Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Second Quarter of Fiscal 2014 ended March 31, 2014
November 12, 2013
Company:
Stock code:
URL:

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

Fiscal 2013 2Q: April 1, 2012- September 30,2012
Fiscal 2013:
April 1, 2012- March 31, 2013
Fiscal 2014 2Q: April 1, 2013- September 30, 2013
Fiscal 2014:
April 1, 2013- March 31, 2014

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 2014
(April 1, 2013 through September 30, 2013)(1) Operating Results
2Q FY3/14
2Q FY3/13

Net Sales
Millions of Yen
398,411353,519

%
12.7
1.8

Operating income
Millions of Yen%
27,438 158.2
10,62584.3*comprehensive income : Fiscal 2014 2Q 27,255

EPS%––Fiscal 2013 2Q 1,962

Diluted EPS
Yen––Yen
8.29
0.44

2Q FY3/14
2Q FY3/13

Ordinary income
Net income
Millions of Yen% Millions of Yen
25,631 461.2
10,176
4,567 310.2
539(2) Financial Position
Total assets
Millions of Yen
1,013,360
982,473

2Q FY3/14
FY3/13*Equity : Fiscal 2014 2Q 213,401

Total net assets
Millions of Yen
244,272
219,826

Equity ratio
%21.1
19.5

Fiscal 2013 191,427

2. Dividends
1Q
FY3/13
FY3/14
FY3/14(forecast)

Dividend per share
3Q
4Q

2Q

TotalYen

Yen

Yen

Yen

Yen

——

2.00
2.00

—

2.00

4.00

—

3.00

5.00

3. Consolidated Results Forecast for the Fiscal 2014(April 1, 2013 through March 31, 2014)
Net sales
Millions of Yen

FY3/14

824,000%
10.2

Operating income%
64,000 57.4

Millions of Yen

Ordinary income%
57,000 74.5

Millions of Yen

Net income
Millions of Yen

21,000%85.4

EPSYen17.10

This 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)

ItemAssets
Current 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

FY3/13(As of 03/31/13)

2Q FY3/14(As of 9/30/13)

59,379174,336
25,9204,788
36,45531,413(1,587)
330,706

67,352
166,469
28,0306,462
38,48730,723(1,723)335,803

146,664
108,314
152,625
49,884457,489

145,055
110,331
154,742
61,182
471,311

11,30330,275
41,578

11,53830,92342,461

85,12874,282(6,713)
152,698
651,766
982,473

91,88678,506(6,609)163,783
677,557
1,013,360

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
Asset retirement obligation
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained 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
Foreign currency translation adjustment

FY3/13(As of 03/31/13)(Millions of Yen)
2Q FY3/14(As of 9/30/13)

85,010274,760
11,47811,000
4,711
7
2,971
1,922
70,730462,591

81,155
267,773
11,665
16,368
4,922
7
2,519
1,632
69,672455,717

32,385
155,336
25,448505

47,310143,828
26,812
474

138

138

343
1,866
8,032
75,998300,054762,646

342
1,863
7,590
85,010313,370769,088

86,17450,636
91,174(934)
227,051

86,17450,69098,898(901)
234,862

3,168

5,409

78
4,563

30
4,409

(39,640)(27,179)

Adjustment for emplyee retirement benefit ofoverseas subsidiary
Total accumulated other comprehensive
incomeMinority interests in consolidated subsidiaries(3,793)(4,129)(35,624)(21,460)

28,39930,870Total net assets

219,826

244,272

Total liabilities and net assets

982,473

1,013,360

Page 3 of 7

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

(Millions of Yen)
2QFY3/13(4/1/129/30/12)
353,519

2QFY3/14(4/1/139/30/13)
398,411

Cost of sales

284,755

308,645

Gross profit

68,76489,766

Selling, general and administrative expenses

58,13862,327

Operating income

10,62527,438Item
Net sales

Non-operating income
Interest income

212

211

Dividends income

395344-

231

2,275

3,527

2,883

4,315

4,646

4,303

2,333

-

1,961

1,819

Equity in earnings of unconsolidated subsidiaries
and affiliates
Other
Total non-operating income
Non-operating expenses
Interest expenses
Equity in losses of unconsolidated subsidiaries andaffiliates
Other
Total non-operating expenses

8,941

6,122

4,567

25,631

2,502

1,253498

89

Total extraordinary income

3,001

1,343

Extraordinary loss
Loss on disposal of non-current assets

1,682

1,036

1,222
2,905

583
1,619

Income before income taxes and minority interests

4,663

25,355

Income taxes

4,189

14,537

Net income before minority interests

474

10,817

Minority interests

(64)

640

Net income

539

10,176

Ordinary income
Extraordinary income
Gain on disposal of non-current assets
Other

Other
Total extraordinary losses

Page 4 of 7

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

Net income 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 FY3/13
2Q FY3/14(4/1/12(4/1/139/30/12)
9/30/13)474
10,817(963)
(6)
1,629

2,156(48)12,15484(336)

743

2,511

1,488
1,962

16,43727,2551,870
92

24,4942,760

Page 5 of 7

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

2Q FY3/13(4/1-129/30/12)
I

Cash flows from operating activities
Income before income taxes and minority interests
Depreciation and amortization
Amortization of goodwill
Equity in (earnings)losses of unconsolidated
subsidiaries and 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
Other, netII

SubtotalInterest and dividends income received
Interest expenses paidIncome taxes paid
Cash flows from operating activities
Cash flows from 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 of loans receivableCollections of loans receivable
Other, net
Cash flows from investing activities(Millions of Yen)
2Q FY3/14(4/1/139/30/13)

4,663
18,8601,014

25,355
19,649
1,082

2,333

(231)

702
(1,847)34(2,546)

(97)

(31)

(21)128(103)
(194)
(607)
4,646
(35)
(823)
6,198
(2,340)(3,621)

203
12(2)
(891)
(556)
4,303
(26)
(216)
10,824(3,291)(5,008)2,263
31,116855(4,842)(2,822)
24,307

3,454
52,116908(4,462)(10,751)
37,811(242)(13,893)
4,116
(310)
178
(483)
1,136
207
(9,290)818(17,599)
1,750
(148)
323
(1,167)2,500
152(13,371)

Page 6 of 7

III Cash flows from financing activities
Increase (decrease) in short-term loans payable(27,753)(9,216)

Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Proceeds from issuance of bonds

26,815(25,598)(10,208)
20,800Purchase of treasury stock
Proceeds from sales of treasury stock(6)0(2,457)(419)(1,644)(20,472)
125(5,330)59,78532,532(50,233)(238)
15,350(25)
54(2,457)(415)(2,493)(17,369)
1,925
8,995
54,408

(70)

(263)

54,384

63,140Cash dividend paid

Cash dividends paid to minority shareholders
Other, net
Cash flows from 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 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 FY3/13 (4/1/12 – 9/30/12)
Reportable Segments
MineralConstructio Ceramics &Cement
Environmental
OtherResourcesn Materials Electronics
Total
Business
Business
BusinessBusinessBusinessNet sales
Sales to outside
customers
Inter-segment
sales
TotalSegment
income(loss)

Inter-segment
sales
Total
Segment
income(loss)

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)

10,6252Q FY3/14 (4/1/13 – 9/30/13)
Reportable Segments
Construction Ceramics &Mineral
Environmental
CementOther
Materials Electronics
TotalResources
Business
Business
Business
Business
Business
Net sales
Sales to outside
customers

Total

Total

Adjustment Consolidated
Total

251,945

36,00446,49837,2805,490

377,219

21,192

398,411－

398,411

5,629

9,544

2,372

2,061

3

19,611

11,32230,933(30,933)－

257,574

45,54848,871

39,3425,494

396,830

32,514429,345(30,933)

398,41118,516

3,445

3,862

611

(108)

26,327

1,353

27,680(241)

27,438Page 7 of 7