(For reference purposes only)
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Consolidated Financial Results for the Year ended March 31, 2020 [Japanese Standard]
May 28, 2020
Stock exchange: Tokyo (First Section)
Listed company name: Aida Engineering, Ltd.
Stock code:
6118 (URL https://www.aida.co.jp/en/)
Representative:
Kimikazu Aida, Chairman & President (CEO)Contact:
Hiromitsu Ugawa, Managing Executive Officer, Division Manager, General Administration Headquarters
Tel: +81-42-772-5231
Scheduled date of annual general shareholders' meeting:June 29, 2020
Scheduled date of filing annual securities report:
June 29, 2020
Scheduled beginning date of dividend payment:
June 30, 2020
Preparation of supplemental explanatory materials:
Yes
Holding of financial results briefing:
None(Figures are rounded down to the nearest million yen)
1. Consolidated Results for Fiscal Year Ended March 31, 2020 (April 1, 2019 to March 31, 2020)(1) Consolidated Financial Results

Net sales（Percentages represent change compared to the previous period)
Net income attributable toOrdinary income
owners of parent

Operating income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

69,159(17.7)

6,173

11.0

6,423

9.2

4,022

(13.2)

Year ended March 31, 201984,082

13.8

5,561

(11.9)

5,880

(0.8)

4,634

(2.4)

Note: Comprehensive income

Year ended March 31, 2020
Year ended March 31, 2019Year ended March 31, 2020

1,605 million yen
3,237 million yen
Diluted net income per
share

Yen

Yen

66.88

66.75

Ratio of ordinary
income to total assets
%
%
5.3
6.0

75.10

74.94

6.1

Net income per share
Year ended March 31, 2020
Year ended March 31, 2019

( -50.4 %)( -54.8 %)Return on equity

Ratio of operating
income to net sales
%
8.9

5.2

6.6

Year ended March 31, 2020 － million yen
Year ended March 31, 2019 － million yen

Reference: Equity in earnings of affiliates(2) Consolidated Financial Position
Total assets

Shareholders' equity ratio

Net assets per share

Millions of yen%

Yen

104,11474,84071.1

1,243.15

77,20668.5

1,238.41

As of March 31, 2020

111,564

As of March 31, 2019
Reference: Shareholders' equity

Net assets

Millions of yen

As of March 31, 2020
As of March 31, 201974,031 million yen
76,453 million yen(3) Consolidated Cash Flow
Operating activities
Year ended March 31, 2020
Year ended March 31, 2019

Investing activities

Cash and cash equivalents at
the end of period

Financing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

3,908
2,821

(1,091)(1,650)(3,377)(1,956)28,71030,633

2. Cash Dividends
Cash dividends per share
1Q End2Q End3Q EndYear-end

Total dividends(Annual)

Total

Ratio of dividends
to net assets(Consolidated)

Payout ratio(Consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

Year ended March 31, 2019

－

－

－

30.00

30.00

1,955

39.9

2.4

Year ended March 31, 2020

－

－

－

30.00

30.00

1,889

44.9

2.4

Year ended March 31, 2021 (forecast)

－

－

－

－

－

－

3. Forecasts of Consolidated Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 to March 31, 2021)
Due to uncertainties caused by the spread of COVID-19, the forecast for the fiscal year ending March 31, 2021 is currently undetermined. When it becomes
possible to make a reasonable estimate, Aida will make an announcement in a timely manner.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41
4. Others(1) Changes among significant subsidiaries during the period: None
Note: This refers to addition and deletion in specific subsidiaries with changes in the scope of consolidation during the period.
(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1. Changes in accounting policies due to revisions of accounting standards: None
2. Changes in accounting policies other than "1": None
3. Changes in accounting estimates: None
4. Retrospective restatement: None
(3) Number of shares outstanding (Common stock)
1. Total number of issued shares (Including treasury stock)69,448,421 shares
As of March 31, 2020
As of March 31, 2019
71,647,321 shares
2. Total number of treasury stock
As of March 31, 2020
9,896,566 shares
9,912,330 shares
As of March 31, 2019
3. Average number of shares
60,149,699 sharesYear ended March 31, 2020
Year ended March 31, 2019
61,712,228 shares[Reference] Outline of Non-Consolidated Results
Non-Consolidated Results for the Fiscal Year Ended March 31, 2020 (April 1, 2019 to March 31, 2020)(1) Non-Consolidated Financial Results（Percentages represent change compared to the previous period)
Net salesYear ended March 31, 2020
Year ended March 31, 2019

Operating income

Ordinary income

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

42,592

(5.0)

4,529

72.2

9,670

134.4

5,942

73.0

44,8123.9

2,630(19.0)

4,126

(7.3)

3,436

(10.9)

Diluted net income pershare

Net income per share

Year ended March 31, 2020
Year ended March 31, 2019

Yen

Yen

98.80

98.62

55.68

55.56

(2) Non-Consolidated Financial Position
Total assets

Shareholders' equity ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

73,01957,84279.0

968.9574,71857,702 million yen

56,77975.8

917.47

As of March 31, 2020
As of March 31, 2019

56,639 million yen

As of March 31, 2020
As of March 31, 2019
Reference: Shareholders' equity

Net assets

This financial results falls outside the scope of audit procedures.
Statement for proper use of business forecast and other special remarks:
As for the forecasts of consolidated results for the fiscal year ended March 31, 2021, it is difficult to reasonably estimate the effects of the coronavirus (COVID 19)
as of today, so forecasts is undecided. AIDA will disclose such figures promptly after it becomes possible to estimate them in the future.

TABLE OF CONTENTS

1. Consolidated Financial Statements(1) Consolidated Balance Sheets…………………………………………………………………………………………
2(2) Consolidated Statements of Income and Comprehensive Income……………………………………………………
4
Consolidated Statements of Income………………………………………………………………………
4

Consolidated Statements of Comprehensive Income…………………………………………………………………
5(3) Consolidated Statements of Change in Net Assets ………………………………………………………
6(4) Consolidated Statements of Cash Flows………………………………………………………………89(5) Notes to Going Concern Assumption……………………………………………………………………….
(6) Segment Information………………………………………………………………………………….9
2. Supplementary Information
Status of Orders ……………………………………………………………………………………………
10

1

1. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of Yen)
As of March 31, 2019
AssetsCurrent assets
Cash on hand and at banks
Notes and accounts receivable - trade
Electronically recorded monetary claims - operating
Finished goods
Work in process
Raw materials and supplies
Advance payments - trade
Accounts receivable - otherConsumption taxes receivable
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery and vehicles
Accumulated depreciation
Machinery and vehicles, net
LandConstruction in progress
Other fixed assets
Accumulated depreciation
Other fixed assets, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Insurance reserve fundNet defined benefit assets
Deferred tax assets
Other assets
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets

2

As of March 31, 2020

31,15522,859
2,213
2,761
9,814
3,914
1,120
1,425
766
595
(231)
76,39628,723
20,3782,748
2,618
10,662
3,557
596
1,628
386
490
(223)
71,56825,102(16,613)
8,488
17,687(10,451)
7,235
7,301
296
3,578
(2,967)610
23,932800

25,001(16,957)
8,044
17,095(11,099)
5,996
7,283
377
3,638
(3,077)561
22,263
743

6,808
2,219
856
405
178
(32)
10,43535,167
111,564

5,944
2,324
814
331
156
(32)
9,539
32,546104,114

(Millions of Yen)
As of March 31, 2019
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded monetary obligations - operating
Short-term loans payable
Current portion of long-term loans payable
Accounts payable - other
Income taxes payable
Accrued expenses
Advances received
Accrued warranty costs
Accrued bonuses for employees
Accrued bonuses for directors
Provision for loss on orders received
Other current liabilities
Total current liabilities
Long-term liabilities
Long-term loans payable
Long-term accounts payable - other
Deferred tax liabilities
Accrued stock payments
Net defined benefit liabilities
Other long-term liabilities
Total long-term liabilities
Total liabilities
Net assets
Shareholders' equity
Common stock
Additional paid-in capital
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Net unrealized gains on other securities
Deferred hedge gains (losses)
Foreign currency translation adjustments
Retirement benefit plan adjustments
Total accumulated other comprehensive income
Stock options
Non-controlling interests
Total net assets
Total liabilities and net assets

3

As of March 31, 2020

6,806
4,671
2,491
500
1,123
617
1,191
8,291
596
1,080
44
56
956
28,428

4,733
3,369
2,991
500
707
1,681
1,048
6,134
583
1,129
49
170
725
23,823

1,000
817
2,024
401
1,385
300
5,929
34,358

1,000
883
1,445
463
1,387
271
5,450
29,273

7,831
12,41555,777(4,230)71,793

7,831
12,41556,536(4,917)
71,864

3,617
(1)
645
398
4,660
139
613
77,206
111,564

2,638
47
(773)
253
2,166
139
669
74,840104,114(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Foreign exchange gain
Gain from redemption at maturity of endowment insurance
Other non-operating income
Total non-operating income
Non-operating expense
Interest expenses
Commission expenses
Foreign exchange loss
Restructuring charges
Other non-operating expenses
Total non-operating expenses
Ordinary income
Extraordinary gain
Gain on sales of fixed assets
Gain on sales of investment securities
Total extraordinary gain
Extraordinary loss
Loss on sales of fixed assets
Loss on disposal of fixed assets
Loss on impairment
Other extraordinary loss
Total extraordinary loss
Income before income taxes
Current taxes
Deferred taxes
Income taxes
Net income
Net income attributable to non-controlling interests
Net income attributable to owners of parent

4

Year ended March 31,
201984,082
68,851
15,2309,669
5,561(Millions of Yen)
Year ended March 31,
2020
69,15953,96615,192
9,019
6,173

99
197
－
168
154
619

102
196
45
－
145
490

38
13
155
－
94
301
5,880

31
83
－
71
55
240
6,423

24
83
107

3
44
48

0
197
－
4
202
5,785
1,248
(155)
1,092
4,693
58
4,634

0
25
174
28
228
6,242
2,276
(132)
2,143
4,099
76
4,022

Consolidated Statements of Comprehensive Income(Millions of Yen)
Year ended March 31, Year ended March 31,
2019
2020
4,693
4,099

Net income
Other comprehensive income
Net unrealized gains (losses) on other securities
Deferred hedge gains (losses)
Foreign currency translation adjustments
Retirement benefit plan adjustments
Total other comprehensive income (loss)
Comprehensive income
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests(1,313)
(27)
(89)
(25)
(1,455)
3,237
3,179
57

5

(979)
49
(1,418)(144)(2,493)
1,605
1,529
76

(3) Consolidated Statements of Change in Net Assets
Year ended March 31, 2019 (from April 1, 2018 to March 31, 2019)(Millions of Yen)

Shareholders' equity

Balance at the beginning of the period

Common stock

Additional
paid-in capital

Retained earnings

Treasury stock

Total
shareholders'equity7,831

12,48654,000(5,222)

69,095

Changes during the period
Cash dividends(1,954)

Net income attributable to owners of parent

4,634(1,954)
4,634
(0)

(0)

14

18

978

－

Purchase of treasury stock
Disposal of treasury stock3

Retirement of treasury stock

(74)

(903)

Net changes of items other than shareholders' equity
Total changes during the period
Balance at the end of period

－

(71)

1,776

992

2,697

7,831

12,41555,777(4,230)71,793

Accumulated other comprehensive income

Balance at the beginning of the period

Net unrealized
gains (losses) onother securities

Deferred hedge
gains (losses)

4,930

26

Total
Foreign currency
Retirement benefit accumulated othertranslationplans adjustments comprehensive
adjustments
income (loss)

734

423

6,114

Stock option

148

Non-controllinginterests

Total net assets

566

75,924(10)(1,965)

Changes during the period
Cash dividends

4,634

Net income attributable to owners of parent
Purchase of treasury stock(0)

Disposal of treasury stock

18－

Retirement of treasury stock
Net changes of items other than shareholders' equity(1,312)(27)

Total changes during the period(1,312)(27)

Balance at the end of period

3,617

(1)

(89)

6

(25)

(1,454)(8)

57(1,405)

(89)

(25)

(1,454)

(8)

47

1,281

645

398

4,660

139

613

77,206

Year ended March 31, 2020 (from April 1, 2019 to March 31, 2020)(Millions of Yen)

Shareholders' equity

Balance at the beginning of the period

Common stock

Additional
paid-in capital

Retained earnings

7,831

12,41555,777

Treasury stock(4,230)Total
shareholders'equity71,793

Changes during the period
Cash dividends(1,955)

Net income attributable to owners of parent

4,022(1,955)
4,022(2,000)Purchase of treasury stock

4

4

1,309

－

Disposal of treasury stock(1,309)Retirement of treasury stock(2,000)Net changes of items other than shareholders' equity
Total changes during the period
Balance at the end of period

－

－

758

(686)

71

7,831

12,41556,536(4,917)

71,864

Accumulated other comprehensive income

Balance at the beginning of the period

Net unrealized
gains (losses) onother securities

Deferred hedge
gains (losses)

3,617

(1)

Foreign currency
Retirement benefit
translationplans adjustments
adjustments

645

398

Total accumulated
othercomprehensive
income (loss)

4,660

Stock option

139

Non-controllinginterests

Total net assets

613

77,206(20)(1,975)

Changes during the period
Cash dividends
Net income attributable to owners of parent

4,022

Purchase of treasury stock(2,000)

Disposal of treasury stock4

Retirement of treasury stock－

Net changes of items other than shareholders' equity

(979)

49

(1,418)(144)(2,493)－76

Total changes during the period

(979)

49

(1,418)(144)(2,493)－55(2,365)

Balance at the end of period

2,638

47

(773)

253

2,166

139

669

74,8407(2,416)

(4) Consolidated Statements of Cash Flows

Cash flows from operating activities:
Income before income taxes
Depreciation and amortization
Loss on impairment(Gain) loss on sales of fixed assets
Loss on disposal of fixed assets(Gain) loss on sales of securities
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in accrued bonuses for employees, net
Increase (decrease) in accrued bonuses for directors, net
Increase (decrease) in accrued warranty costs, net
Increase (decrease) in net defined benefit liabilities(Increase) decrease in net defined benefit assets
Increase (decrease) in accrued stock payments, net
Increase (decrease) in provision for loss on orders received, net
Interest and dividend income
Interest expense(Increase) decrease in accounts receivable - trade(Increase) decrease in inventories
Increase (decrease) in accounts payable - trade(Increase) decrease in other assets
Increase (decrease) in other liabilities
Other, net
Sub-totalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Payments for purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Payments for purchase of intangible assets
Payments for purchase of investment securities
Proceeds from sales of investment securities
Payments into time deposits
Proceeds from withdrawal of time deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayment of long-term loans payable
Payments for finance lease obligations
Proceeds from sales of treasury stock
Payments for purchase of treasury stock
Cash dividends paid
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year

8

Year ended March 31,
2019（Millions of Yen）
Year ended March 31,
2020

5,785
2,142
－
(23)
197
(83)
(0)
(138)
(8)
(116)
(72)
(33)
56
(46)
(297)
38
(4,328)
1,010
(473)
197
504
80
4,389
297
(38)
(1,826)
2,821

6,242
2,146
174
(3)
25
(44)
(2)
53
4
(1)
(5)
(15)
61
116
(298)
31
(740)
(714)
(2,776)
379
(500)
607
4,738
299
(31)
(1,097)
3,908(2,733)
132
(82)
－
67
(76)
1,040
2
(1,650)(1,219)
5
(93)
(500)
218
－
497
(0)
(1,091)

－
500
(500)
－
10
(0)
(1,965)(1,956)(302)(1,087)31,721
30,633

604
500
(500)
(3)
－
(2,000)(1,977)(3,377)(1,363)(1,923)30,63328,710(5) Notes to Going Concern Assumption
None(6) Segment Information
1.Overview of Reportable Segments
The reportable segments are components for which discrete financial information is available and whose operating results are regularly reviewed bymanagement to make decisions about resource allocation and to assess performance.
The Companies operate within a single business related to the manufacture and sale of press machines and their ancillary facilities, and auxiliary
business such as services. The Company plays a key role for the domestic business. As for the overseas business, each local company including
China(China and Hong Kong), Asia (Singapore and Malaysia), Americas (U.S.A.) and Europe (Italy) plays an important role. Each foreignsubsidiary is a single business entity, planning comprehensive business strategies for products and conducting business activities in each area.
Accordingly, the Companies consist of geographic segments which have the fundamental function of manufacturing, sales and service. Reportablesegments are categorized into “Japan”, “China”, “Asia”, “Americas” and “Europe.”
2. Basis for calculating sales, profit or loss, assets, and other items by reportable segments
Operating income is used as reportable segment income. Inter-segment sales and transfer prices are based on fair value.
3. Information regarding amounts of sales, profit, assets, and other items by reportable segments
Year ended March 31, 2019
Japan

China

Asia

Americas

EuropeSub total

Adjustments(*1)（Millions of Yen）
Consolidated
statements ofincome(*2)

Sales
Sales to third parties

34,833

13,125

4,923

16,14015,05984,082－

84,082

Inter-segment sales

16,429

784

4,726

485

426

22,851(22,851)－

Total sales

51,263

13,9099,649

16,625

15,485

106,933(22,851)

84,082

Segment profit

2,431

723

1,398

693

4

5,251

310

5,561

Segment assets

81,842

12,055

10,5889,126

15,361

128,973(17,409)111,564

Depreciation
1,034
355
263
208
282
2,143
Increase in property, plant,
2,364
50
103
247
101
2,867
equipment and intangible
Note:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment profit refer to inter-segment transaction eliminations.
Adjustments of segment assets represent elimination between inter-segment receivables and payables.
2. Segment profit is adjusted to operating income of consolidated statements of income.

(1)

2,142

－

2,867

OthersYear ended March 31, 2020
Japan

China

Asia

Americas

EuropeSub total

Adjustments(*1)（Millions of Yen）
Consolidated
statements ofincome(*2)

Sales
Sales to third parties

35,988

6,147

5,160

11,467

10,395

69,159－69,159Inter-segment sales

12,667

583

3,067

350

794

17,463(17,463)－

Total sales

48,655

6,731

8,228

11,817

11,18986,622(17,463)

69,159Segment profit or loss

4,726

240

1,062

542

(243)

6,329

(155)

6,173

Segment assets

78,123

9,718

10,341

8,436

11,077

117,696(13,582)

104,114

Depreciation
1,067
329
277
208
262
2,145
Increase in property, plant,
371
43
389
45
88
939
equipment and intangible
Note:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment profit or loss refer to inter-segment transaction eliminations.
Adjustments of segment assets represent elimination between inter-segment receivables and payables.
2. Segment profit or loss is adjusted to operating income of consolidated statements of income.

0

2,146

－

939

Others9

2. Supplementary Information
Status of Orders（Millions of Yen）

Year ended March 31, 2020
OrdersOrder backlog

Comparison with theprevious period (%)

AmountComparison with theend of previous year (%)

AmountJapan

27,879(29.5)

21,017(27.8)

China

6,141

(21.3)

5,259

(0.1)

Asia

5,594

8.4

3,080

16.4

Americas11,336

1.8

6,061

(2.1)

Europe11,375

(5.7)

8,681

12.7

Total

62,326(17.7)

44,100(13.4)

Note:
1. Inter-segment transactions have been eliminated.
2. Amounts above do not include consumption tax.

10