Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Second Quarter of Fiscal 2013 ended March 31, 2013
November 13, 2012
Company:
Stock code:
URL:

Taiheiyo Cement Corporation5233
http://www.taiheiyo-cement.co.jp/

Fiscal 2012 2Q: April 1, 2011- September 30,2011
Fiscal 2012:
April 1, 2011-March 31, 2012
Fiscal 2013 2Q: April 1, 2012- September 30, 2012
Fiscal 2013:
April 1, 2012-March 31, 2013

The accompanying consolidated financial results are not intended to present the financial results in accordancewith accounting principles and practices generally accepted in countries and jurisdictions other than Japan.
(All yen figures are rounded down to the nearest one million yen.)

1. Consolidated Financial Results for the Second Quarter of Fiscal 2013 (April 1, 2012 through September 30,2012)(1) Operating Results
2Q FY3/13
2Q FY3/12

Net Sales
Millions of Yen
353,519347,203%1.8
1.2

Operating income
Millions of Yen%
10,625 84.3
5,763–

*comprehensive income : Fiscal 2013 2Q 1,962

EPS

Fiscal 2012 2Q (2,583)

Diluted EPS
Yen––Yen
0.44(3.45)

2Q FY3/13
2Q FY3/12

Ordinary income
Net income(loss)
Millions of Yen% Millions of Yen%
4,567 310.2
539–
1,113–(3,383)–(2) Financial Position
Total assets
Millions of Yen
966,551
982,2312Q FY3/13
FY3/12*Equity : Fiscal 2013 2Q 168,946

Total net assets
Millions of Yen
195,074
196,144

Equity ratio
%
17.5
17.3

Fiscal 2012 169,614

2. Dividends
1H
FY3/12
FY3/13
FY3/13(forecast)

Dividend per share
3Q
4Q

2Q

TotalYen

Yen

Yen

Yen

Yen

——

2.00
2.00

—

2.00

4.00

—

2.00

4.00

3. Consolidated Results Forecast for the Fiscal 2013(April 1, 2012 through March 31, 2013)
Net sales
Millions of Yen

FY3/13735,000%
1.0

Operating income%
40,000 37.1

Millions of Yen

Ordinary income%
30,500 64.9

Millions of Yen

Net income
Millions of Yen

10,000%27.5

EPSYen8.14This forecast is based on the information available at the date of publication of this material and assumptions at the same datewith respect to the various factors which might have impact on the future financial results. Actual results may differ
materially from this forecast due to various factors.

Page 1 of 7Consolidated Balance Sheets
All yen figures are rounded down to the nearest one million yen.

(Millions of Yen)

Item
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
A. Property, plant and equipment
Buildings and structures, net
Machinery, equipment, and vehicles, net
Land
Other, net
Total property, plant and equipment
B. Intangible assets
Goodwill
Other
Total intangible assets
C. Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

FY3/12(As of 03/31/12)

2Q FY3/13(As of 9/30/12)

64,505
167,638
26,155
4,773
37,14536,046(1,766)334,496

59,369161,666
27,9085,432
37,43934,325(1,994)
324,147

150,556
106,117
151,935
53,180461,789

148,190105,279
151,427
53,795
458,692

12,34329,61741,96011,49729,59041,08878,574
71,141(5,730)143,984
647,735
982,231

74,69873,550(5,626)142,622642,403
966,551

Page 2 of 7

All yen figures are rounded down to the nearest one million yen.

ItemLiabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Current portion of bonds
Income taxes payable
Provision for bonuses
Provision for directors’ bonuses
Provision for loss on assignment of business
Other provision
OtherTotal current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Provision for retirement benefits
Provision for directors’ retirement benefits
Provision for loss on business of subsidiaries
and affiliates
Provision for asset removal
Provision for special repairs

FY3/12(As of 03/31/12)(Millions of Yen)
2Q FY3/13(As of 9/30/12)

84,300251,71030,366
3,251
4,395
7
4,191
1,468
68,488448,180

81,088250,149
20,391
6,115
4,376
7
4,191
1,232
68,070435,622

22,143205,965
24,802550

42,710183,019
24,772
452

138

138

2,002
286

1,898
318

Asset retirement obligation
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplusRetained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Revaluation reserve for land

7,103
74,915337,907786,087

8,028
74,516
335,854771,477

86,17450,63685,041(916)
220,935

86,17450,636
83,122(922)
219,011

985

(142)

20
4,710

17
4,637

Foreign currency translation adjustment(53,678)(51,301)

Adustments for emplyee retirement benefit ofoverseas subsidiary
Total accumulated other comprehensiveincome
Minority interests in consolidated subsidiaries(3,358)(3,274)(51,321)(50,064)

26,52926,127

Total net assets

196,144

195,074

Total liabilities and net assets

982,231

966,551

Page 3 of 7

Consolidated Statements of Income
All yen figures are rounded down to the nearest one million yen.

(Millions of Yen)
2QFY3/12(4/1/11–9/30/11)
347,203

2QFY3/13(4/1/12–9/30/12)
353,519

Cost of sales

284,106

284,755

Gross profit

63,097

68,764

Selling, general and administrative expenses

57,333

58,138Operating income

5,763

10,625

231

212

Item
Net sales

Non-operating income
Interest income
Dividends income
Other
Total non-operating income

462

395

2,199

2,275

2,893

2,883

4,749

4,646

273

2,333

2,520

1,961

Non-operating expenses
Interest expenses
Equity in losses of unconsolidated subsidiaries andaffiliates
Other
Total non-operating expenses

7,543

8,941

1,113

4,567

Gain on disposal of non-current assets

586

2,502

Gain on sales of investment securities

1627

Other
Total extraordinary income
Extraordinary loss
Loss on disposal of non-current assets
Loss on sales of investment securities
Loss on disaster
Other272
876

471
3,001

631
165
1,465
1,411

1,682
702
－519

Ordinary income
Extraordinary income

Total extraordinary losses
Income(loss) before income taxes and minority
interests
Income taxes

3,674

2,905

(1,684)

4,663

1,379

4,189

Net income before minority interests(3,063)474

Minority interests

319

(64)

Net income(loss)(3,383)539

Page 4 of 7

Consolidated Statements of Comprehensive Income
All yen figures are rounded down to the nearest one million yen.

Net income(loss) before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Adjustments for employee retirement benefit of overseas
subsidiary
Share of other comprehensive income of associates accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to :Shareholders of Taiheiyo Cement Corporation
Minority interests(Millions of Yen)
2Q FY3/12
2Q FY3/13(As of 9/30/11) (As of 9/30/12)(3,063)474(865)(14)
(388)

(963)
(6)
1,629

145

84

1,603

743

479
(2,583)

1,488
1,962

(2,760)177

1,87092

Page 5 of 7

Consolidated Statements of Cash FlowsAll yen figures are rounded down to the nearest one million yen.

III

Net cash provided by(used in) operating activities
Income(loss) before income taxes and minority interests
Depreciation and amortization
Amortization of goodwill
Equity in (earnings)losses of affiliates
Loss(gain) on valuation of investment securities
Increase(decrease) in provision for retirement benefits
Increase(decrease) in provision for directors' retirement
benefits
Increase(decrease) in provision for bonuses
Increase(decrease) in allowance for doubtful accounts
Increase(decrease) in provision for removal of assets
Increase(decrease) in other provisionInterest and dividends income
Interest expenses
Loss(gain)on sales of investment securities
Loss(gain)on disposal of property, plant, and equipment
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable-trade
Loss on disaster
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by operating activities
Net cash provided by(used in) investing activities
Decrease(Increase) in time deposits
Purchase of property, plant, and equipment
Proceeds from sales of property, plant, and equipment
Purchase of investment securities
Proceeds from sales of investment securities
Payments for sales of investments in subsidiaries
resulting in change in scope of consolidation
Collections of loans receivable
Other, net
Net cash provided by(used in) investing activities

2Q FY3/12(As of 9/30/11)(Millions of Yen)
2Q FY3/13(As of 9/30/12)(1,684)
20,227
1,038
273
165
(1,105)

4,663
18,860
1,014
2,333
702
(1,847)

(133)

(97)

(81)
94
(25)
(10)
(694)
4,749
(4)
45
6,262
(2,291)(6,019)1,465(3,794)
18,477968(4,832)(2,620)11,992(21)
128(103)
(194)
(607)
4,646
(35)
(823)
6,198
(2,340)(3,621)–
2,263
31,116855(4,842)(2,822)
24,307578(7,974)
977
(320)
157

(242)
(13,893)
4,116
(310)
178

(1,956)(483)

1,173115(7,248)

1,136
207
(9,290)Page 6 of 7

III Net cash provided by(used in) financing activities
Increase (decrease) in short-term loans payable
Increase (decrese) in commercial papers
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Proceeds from issuance of bonds
Proceeds from issuance of common stock
Purchase of treasury stock
Proceeds from sales of treasury stock
Cash dividend paid

Cash dividends paid to minority shareholders
Other, netNet cash provided by(used in) financing activities
IV Effect of exchange rate changes on cash and cash equivalents
V Net increase in cash and cash equivalents
VI Cash and cash equivalents at beginning of period
VII Decrease in cash and cash equivalents resulting fromexclusion of subsidiaries from consolidation
VIII Increase in cash and cash equivalents resulting from merger(3,102)(12,000)
33,945(32,544)(10,178)
600
33,350(5)
1(2,372)(466)(1,018)6,208(78)
10,872
61,265(27,753)–
26,815(25,598)(10,208)
20,800–(6)
0(2,457)(419)(1,644)(20,472)125(5,330)
59,785

(5)

(70)

47

–

72,18054,384

IX Cash and cash equivalents at end of the period

Consolidated Segment Information
All yen figures are rounded down to the nearest one million yen.

(Millions of Yen)
2Q FY3/12 (4/1/11 – 9/30/11)
Reportable Segments
MineralConstructio Ceramics &Cement
Environmental
Other
Resourcesn Materials Electronics
Total
Business
Business
Business
Business
Business
Net sales
Sales to outside
customers
Inter-segment
sales
Total
Segment
income(loss)

Inter-segment
sales
Total
Segment
income(loss)

Adjustment Consolidated
Total

212,888

31,55628,09333,733

21,406327,679

19,524347,203—347,203

6,453

8,348

2,666

1,636

5

19,110

10,15029,260(29,260)—

219,342

39,90530,76035,37021,412346,790

29,674376,464(29,260)

347,203

1,895

756

3,118

(1,110)

(147)

4,512

1,297

5,810

(46)

5,763

2Q FY3/13 (4/1/12 – 9/30/12)
Reportable Segments
MineralConstruction Ceramics &Cement
Environmental
Other
Resources
Materials Electronics
Total
Business
Business
Business
Business
Business
Net sales
Sales to outside
customers

Total

Total

Adjustment Consolidated
Total

228,233

32,07432,43833,074

6,897

332,71720,802353,519—

353,519

5,937

8,839

2,759

1,928

18

19,483

10,88330,367(30,367)—234,170

40,91335,19735,003

6,915

352,201

31,686

383,887(30,367)

353,519

6,207

1,613

3,147

(783)

(736)

9,447

1,283

10,731(106)

10,625

Page 7 of 7