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Consolidated Financial Results for the 2nd Quarterof the Fiscal Year Ended March 31, 2020 [Japanese Standard]
November 12, 2019
Stock exchange: Tokyo (First Section)
Listed company name: Aida Engineering, Ltd.
Stock code:
6118 (URL http://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 filing quarterly securities report:
November 12, 2019
－Scheduled beginning date of dividend payment:
Preparation of supplemental explanatory materials:
Yes
Holding of financial results briefing:
Yes (for analysts and institutional investors)(Figures are rounded down to the nearest million yen)
1. Consolidated Results for 2nd Quarter of the Fiscal Year Ended March 31, 2020 (April 1, 2019 to September 30, 2019)(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%Six months ended September 30, 201934,274(15.0)

3,027

29.7

3,201

20.8

2,261

30.3

Six months ended September 30, 201840,31123.1

2,334(18.9)

2,651

(6.5)

1,735

(11.0)

Note: Comprehensive income

Six months ended September 30, 2019
Six months ended September 30, 2018

777 million yen
2,096 million yen( -62.9 %)( -46.6 %)Diluted net income pershare

Net income per share
YenYenSix months ended September 30, 2019

37.23

37.16

Six months ended September 30, 2018

28.13

28.06

(2) Consolidated Financial Position
Total assets

Shareholders' equity ratio

Net assets per share

Millions of yen%

Yen

104,21374,01070.3

1,230.28

77,20668.5

1,238.41

As of September 30, 2019

111,564

As of March 31, 2019
Reference: Shareholders' equity

Net assets

Millions of yen

As of September 30, 2019
As of March 31, 201973,259 million yen
76,453 million yen

2. Cash Dividends
Cash dividends per share
1Q End2Q EndYen

Yen

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

3Q EndYear ended March 31, 2020 (forecast)Year-end

Total dividends(Annual)

Total

Ratio of dividends
to net assets(Consolidated)

Payout ratio(Consolidated)

Yen

Yen

Yen

Millions of yen

%%

―

30.00

30.00

2,603

49.5

3.5

1,954

38.7

2.5

―

30.00

30.00

37.8

Note: Revision of dividend forecast for this period: None
3. Forecasts of Consolidated Results for the Fiscal Year Ended March 31, 2020 (April 1, 2019 to March 31, 2020)（Percentages represent change compared to the previous period)
Net sales

Operating income

Net income attributable
Net income per shareto owners of parent

Ordinary income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

72,000
Full year ended March 31, 2020
Note: Revision of forecasts of consolidated results: Yes(14.4)

6,350

14.2

6,500

10.5

4,650

0.3

77.31

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(2) Adoption of special accounting treatment for quarter financial report: Yes
Note: This refers to whether these above were used for preparing quarterly consolidated financial statements.
(3) 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
(4) Number of shares outstanding (Common stock)
1. Total number of issued shares (Including treasury stock)
As of September 30, 2019
71,647,321 shares
As of March 31, 2019
71,647,321 shares
2. Total number of treasury Stock
As of September 30, 201912,100,754 shares
As of March 31, 2019
9,912,330 shares
3. Average number of shares
Six months ended September 30, 201960,749,387 shares
Six months ended September 30, 2018
61,703,410 sharesThis financial results falls outside the scope of audit procedures.
Statement for proper use of business forecast and other special remarks:
The above forecasts and those presented in appended material are based on the information presently available.
Actual results may differ from these forecasts due to changes in various factors.

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 Cash Flows………………………………………………………………6(4) Notes to Going Concern Assumption……………………………………………………………………….
77(5) Notes Regarding Remarkable Fluctuation in Shareholders' Equity……………………………………………………

7(6) Segment Information……………………………………………………………………………………………………
2. Supplementary Information
Status of Orders ……………………………………………………………………………………………
811. Consolidated Financial Statements(1) Consolidated Balance Sheets
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
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 assets2(Millions of Yen)
As of September 30,
201931,15522,859
2,213
2,761
9,814
3,914
3,906
(231)
76,39627,48520,4482,383
2,771
11,288
3,590
2,627
(212)
70,382

25,102(16,613)
8,488
17,687(10,451)
7,235
7,301
296
3,578
(2,967)610
23,932800

25,124(16,757)
8,366
17,091(10,566)
6,525
7,291
160
3,569
(2,995)573
22,918
776

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

6,389
2,291
871
455
160
(32)
10,13533,830104,213

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
Advances received
Accrued warranty costs
Accrued bonuses for employees
Accrued bonuses for directors
Provision for loss on orders receivedOther 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(Millions of Yen)
As of September 30,
2019

6,806
4,671
2,491
500
1,123
617
8,291
596
1,080
44
56
2,148
28,428

5,015
3,706
2,360
500
663
1,005
7,320
596
1,080
46
49
2,019
24,365

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

1,000
902
1,807
449
1,405
271
5,837
30,203

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

7,831
12,41556,084(6,227)
70,102

3,617
(1)
645
398
4,660
139
613
77,206
111,5643,317
46(558)
350
3,156
139
611
74,010104,213

(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
Gain from redemption at maturity of endowment insurance
Insurance premiums refunded cancellation
Foreign exchange gain
Other non-operating income
Total non-operating income
Non-operating expense
Restructuring charges
Interest expenses
Foreign exchange loss
Other non-operating expenses
Total non-operating expenses
Ordinary income
Extraordinary gain
Gain on sales of fixed assets
Total extraordinary gain
Extraordinary loss
Loss on labor accident
Loss on sales of fixed assets
Loss on disposal of fixed assets
Other extraordinary loss
Total extraordinary loss
Income before income taxes
Income taxes
Net income
Net income attributable to non-controlling interests
Net income attributable to owners of parent

4

Six months ended
September 30, 201840,311
33,2147,097
4,762
2,334(Millions of Yen)
Six months ended
September 30, 201934,274
26,792
7,482
4,454
3,027

51
103
12
166－
64
398

54
114
0－
1168
249－
1720
43
81
2,651

27
16－
31
75
3,201

20
20

22－
0
161
4
166
2,505
749
1,756
20
1,735

26－
21－
47
3,156
876
2,280
18
2,261

Consolidated Statements of Comprehensive Income

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

5

Six months ended
September 30, 2018
1,756

(Millions of Yen)
Six months ended
September 30, 2019
2,280

227
(99)
234
(22)
340
2,096
2,075
20(300)48(1,203)(47)(1,503)
777
758
18

(3) Consolidated Statements of Cash FlowsSix months ended
September 30, 2018
Cash flows from operating activities:
Income before income taxes
Depreciation and amortization
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in accrued warranty costs, net
Increase (decrease) in accrued bonuses for employees, net
Increase (decrease) in accrued bonuses for directors, net
Increase (decrease) in provision for loss on orders received, net
Increase (decrease) in net defined benefit liabilities(Increase) decrease in net defined benefit assets
Increase (decrease) in accrued stock payments, net
Interest and dividend income
Interest expense(Gain) loss on sales of fixed assets
Loss on disposal of fixed assets(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 into time deposits
Proceeds from withdrawal of time deposits
Payments for purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Payments for purchase of intangible assetsProceeds from sales of investment securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Payments for purchase of treasury stock
Proceeds from sales of treasury stock
Cash dividends paid
Dividends paid to non-controlling interests
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

6（Millions of Yen）
Six months ended
September 30, 2019

2,505
1,060
(13)
(74)
(126)
(8)
11(16)(45)
47(154)17(19)
161(1,395)(1,276)
959
168
217
29
2,047
154
(17)
(930)
1,254

3,156
1,064
(9)
14
6
1(6)
26(83)
47(169)
16(2)
21
1,567
(1,530)(2,269)
187
(449)
319
1,910
168
(16)
(394)
1,668

(28)
798
(969)
122
(25)
－
0(103)(7)502(596)
4(35)
103
0(28)

(0)
0(1,951)(10)(1,961)(112)(924)
31,72130,797(2,000)－(1,955)(20)(3,976)(827)(3,163)30,63327,470(4) Notes to Going Concern Assumption
None(5) Notes Regarding Remarkable Fluctuation in Shareholders' Equity
AIDA repurchased treasury stock based on the resolution at the meeting of the Board of Directors held on June 11, 2019in accordance with the Companies Act, Article 156, applied by replacement under Article 165, paragraph 3 of the same Act.
As a result, treasury stock increased by ¥1,999 million during the six months ended Septedmber 30, 2019, and was ¥6,227 million
as of September 30, 2019.
(6) Segment Information
Six months ended September 30, 2018
Japan

ChinaAsiaAmericas

EuropeSub total

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

Sales
Sales to third parties

16,767

5,611

2,316

8,368

7,248

40,311－

40,311

Inter-segment sales

9,073

422

2,298

179

193

12,167(12,167)－

Total sales

25,840

6,033

4,615

8,547

7,442

52,479(12,167)

40,311

Segment profit or loss

1,029

312

555

367

(41)

2,223

110

2,334

Note:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment profit or loss refer to inter-segment transaction eliminations.
2. Segment profit or loss is adjusted to operating income of consolidated statements of income.
Six months ended September 30, 2019
Japan

ChinaAsia

Americas

EuropeSub total

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

Sales
Sales to third parties

17,939

2,402

2,676

5,658

5,596

34,274－34,274

Inter-segment sales

6,341

433

1,590

138

143

8,648

(8,648)－

Total sales

24,281

2,835

4,267

5,797

5,740

42,922(8,648)34,274

Segment profit or loss2,291

24586

317

(52)

3,166(139)

3,027

Note:
1. Adjustments of sales represent elimination of inter-segment transactions.
Adjustments of segment profit or loss refer to inter-segment transaction eliminations.
2. Segment profit or loss is adjusted to operating income of consolidated statements of income.

7

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

Six months ended September 30, 2019
OrdersOrder backlog

Comparison with theprevious period (%)

AmountComparison with theend of previous year (%)

AmountJapan

14,400(31.8)

25,586(12.2)

China

2,792

(49.7)

5,655

7.4

Asia

3,316

7.3

3,286

24.2

Americas4,034(44.0)

4,568(26.2)

Europe5,078(28.6)

7,183

(6.7)

29,621(32.8)

46,280

(9.1)

Total

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

8