< Translation >May 9, 2014

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2014
<under Japanese GAAP>
Company Name:
Listing:
Securities code:
URL:
Representative:
Inquiries:

Yushin Precision Equipment Co., Ltd.
First Section of the Tokyo Stock Exchange6482
http://www.yushin.com
Mayumi Kotani, President and Representative Director
Yoshihisa Nakanishi, Accounting Manager
Tel: +81-75-933-9168 (from overseas)
Scheduled date of annual general shareholders’ meeting:June 26, 2014
Scheduled date to commence dividend payments:
June 12, 2014
Scheduled date to submit annual securities report:
June 27, 2014
Preparation of supplementary materials on financial results: Yes
Holding of financial results briefing:
Yes (for analysts)(Amounts less than one million yen are omitted, unless otherwise noted)

1. Consolidated Financial Results for the FY2014 (from April 1, 2013 to March 31, 2014)(1) Consolidated operating results
Net sales
FY2014FY2013

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

17,90914,721

21.7
3.4

2,792
1,498

86.3
17.7

3,095
1,746

77.2
38.0

1,893
1,114

69.8
43.2

Note: Comprehensive income

Net income
per share
FY2014FY2013(Percentages indicate year-on-year changes)
Ordinary income
Net income

Operating income

FY2014: 2,527 million yen [71.7%]

FY2013: 1,472 million yen [111.6%]

Diluted net
Return on equity
income per share

Ratio of ordinary Ratio of operating
income toincome tototal assets
net sales

Yen

Yen

%

%

%

108.24
63.74

-

9.1
5.8

12.4
7.5

15.6
10.2

Reference: Equity in earnings (losses) of affiliates

FY2014: - million yen

FY2013: - million yen(2) Consolidated financial position
Total assets

Net assets

Net assets
per share

Equity ratio

Millions of yen

Millions of yen%

Yen

26,252
23,744

21,875
19,86582.9
83.4

1,243.88
1,131.63

As of March 31, 2014
As of March 31, 2013

Reference: Equity capital (Net assets less minority interests)
As of March 31, 2014: 21,753 million yen

As of March 31, 2013: 19,791 million yen

Yushin Precision Equipment Co., Ltd. (6482)(3) Consolidated cash flows
Net cash provided by(used in) operating
activities

Net cash provided by(used in) investing
activities

Net cash providedby (used in)financing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

2,575
520

(2,389)
(781)

(569)
(351)

7,506
7,564

FY2014FY2013

Cash and cash
equivalents
at end of period

2. Cash Dividends
Annual dividends per share
1Q

FY2013
FY2014FY2015(Forecast)

2Q

3Q

4Q

Total cash
dividends(annual)

Total

Dividend
payout ratio(consolidated)

Ratio ofdividends to
net assets(consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

-

10.00
10.00

-

20.00
20.00

30.00
30.00

524
524

47.1
27.7

2.7
2.5

-

10.00

-

20.00

30.00

25.0

Note: The dividend of 20.00 yen per share for the fourth quarter-end of the fiscal year ended March 31, 2013 is thesum of an ordinary dividend of 10.00 yen per share and a 40th anniversary commemorative dividend of 10.00 yen
per share.

3. Consolidated Earnings Forecasts for the FY2015(from April 1, 2014 to March 31, 2015)(Percentages indicate year-on-year changes)
Net income
Ordinary income
Net income
per share

OperatingincomeNet sales
Millionsof yen%Millionsof yen%Millionsof yen%Millionsof yen%YenFirst six months
ending September
30, 2014

9,000

7.4

1,260

14.2

1,350

6.2

900

16.9

51.46

FY2015

19,500

8.9

3,100

11.0

3,500

13.1

2,100

10.9

120.09* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying
changes in scope of consolidation): None
Newly added: Excluded: (2) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
2) Changes in accounting policies due to other reasons:None3) Changes in accounting estimates:
None4) Restatement:
None(3) Number of issued shares (common stock)1) Number of issued shares at the end of the period (including shares of treasury stock)
As of March 31, 2014: 17,819,033 shares
As of March 31, 2013: 17,819,033 shares
2) Number of shares of treasury stock at the end of the period
As of March 31, 2014:
330,197 shares
As of March 31, 2013:
329,376 shares
3) Average number of outstanding shares during the period
FY2014:
17,489,268 shares
FY2013:
17,489,873 shares

Yushin Precision Equipment Co., Ltd. (6482)(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the FY2014 (April 1, 2013 - March 31, 2014)(1) Non-consolidated operating results
Net sales
FY2014FY2013(Percentages indicate year-on-year changes)
Ordinary income
Net income

Operating income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

14,351
12,393

15.8
(5.4)

1,611
927

73.7
(2.9)

2,258
1,288

75.3
16.4

1,616
941

71.6
34.6

Net income per share

Diluted Net income
per share

Yen

Yen

92.44
53.86

-

FY2014FY2013(2) Non-consolidated financial position
Total assets

Total net assets

Net assets
per share

Equity ratio

Millions of yen

Millions of yen%

Yen

23,693
22,69920,13819,05285.0
83.9

1,151.50
1,089.37

As of March 31, 2014
As of March 31, 2013
Reference: Equity capital (Net assets)

As of March 31, 2014: 20,138 million yen

As of March 31, 2013: 19,052 million yen

2. Non-consolidated Earnings Forecasts for the FY2015(from April 1, 2014 to March 31, 2015)
Net sales

FY2015(Percentages indicate year-on-year changes)
Net income
Ordinary income
Net income
per share

OperatingincomeMillionsof yen%Millionsof yen%Millionsof yen%Millionsof yen%Yen

15,700

9.4

2,127

32.0

2,470

9.3

1,690

4.5

96.63

* Presentation of situation of audit proceduresThis financial information included in this summary is out of scope of audit procedure under the Financial
Instruments and Exchange Act. Audit procedure under the Financial Instruments and Exchange Act has notbeen completed at the date of submission of this summary.
* Cautionary statement with respect to forward-looking statements and other special remarks
The forecasts above are based on the information currently available. A number of factors could cause actual
results to differ materially from expectations.
For more information about these assumptions and notes regarding the use of earnings forecasts, please refer
to “1. Operating and Financial Review, (1) Analysis of Operating Results” on page 2 of the attacheddocuments.
* Disclaimer
This English version is not an official translation of the original Japanese document. In cases where any
differences occur between the English version and the original Japanese version, the Japanese version shallprevail. Yushin Precision Equipment Co., Ltd. shall accept no responsibility or liability for damages or loss
caused by any error, inaccuracy, misunderstanding or misspelling with regard to this translation. Thistranslation may be used only for reference purposes. Yushin Precision Equipment Co., Ltd. maintains theright to claim compensation from violators for any damage or loss it may suffer from the violation of these
conditions.

Yushin Precision Equipment Co., Ltd. (6482)[Attached Material]
INDEX
1. Operating and Financial Review ························································································ 2(1) Analysis of operating results ························································································· 2(2) Analysis of financial condition ······················································································ 3(3) Basic policy on allocation of profits ················································································ 3
2. Management Policies ····································································································· 4(1) Fundamental management policy ···················································································· 4(2) Managerial indicators for targets····················································································· 4(3) Medium and long-term management strategies ···································································· 4(4) Issues to be addressed ································································································· 4(5) Other significant management issue ················································································· 4
3. Consolidated Financial Statements ····················································································· 5(1) Consolidated balance sheets ························································································· 5(2) Consolidated statements of income and consolidated statements of comprehensive income ··············· 7
Consolidated statements of income ················································································· 7
Consolidated statements of comprehensive income ······························································ 8(3) Consolidated statements of changes in net assets ······························································· 9(4) Consolidated statements of cash flows ············································································11(5) Notes to consolidated financial statements········································································12Events or conditions raising significant questions regarding assumption of going concerns ··············12
Changes in accounting policies ·····················································································12Segment information etc. ····························································································12
Per share indexes ······································································································14
Significant subsequent events ·······················································································14
Order, backlog and sales ·····························································································15
Overseas sales ·········································································································15
4. Non-consolidated Financial Statements ··············································································16(1) Non-consolidated balance sheets ···················································································16(2) Non-consolidated statements of income ···········································································18(3) Non-consolidated statements of changes in net assets ··························································19
5. Other Information ········································································································21

1Yushin Precision Equipment Co., Ltd. (6482)

1. Operating and Financial Review(1) Analysis of operating results1) Overview of business environment in fiscal year ended March 31, 2014 (“this fiscal year”)
In this fiscal year, the economy of the United States was strong and many of Asian countries also had asteady economy accompanying with healthy US economy. However, the European economy was still
struggling in the debt crisis and there were some unstable political situations in some countries around
Europe. Regarding the industries relating to Yushin Group, demands on the industry of automotive andIT devices for smartphones and etc. have kept strong and also demands for consumer goods andcontainer industries increased. And there were some improvements of the investment for the equipment inJapan following strong overseas markets.
In these circumstances, Yushin Group increased unit sales of main products, take-out robots whichwere developed based on the concepts of a high-speed motion, vibration suppression and an energy saving,
and which have been recognized its performance in many countries of the world. Especially, sales in the
United States, China and South Korea were maintained a good condition. Orders from new customers,
who focus attention on energy-saving performances and labor cost savings, significantly increased. And
Yushin Group has received results of cost reduction activities, local purchases and making up production
systems. As the result, consolidated net sales increased by 21.7% year on year to 17,909 million yen.
Operating income increased by 86.3% year on year to 2,792 million yen, ordinary income increased by
77.2% to 3,095 million yen, and net income increased by 69.8% to 1,893 million yen.
Operating result by product category for this fiscal year compared to the previous fiscal year
< Take-out robot >As the sales of main products, SC and YC series steadily increased, net sales of take-out robot
increased by 2,594 million yen (25.6%) from the previous FY to 12,736 million yen.
< Custom-ordered equipment >Due to a good sale of semiconductor relating equipment, net sales of custom-ordered equipment
increased by 482 million yen (22.5%) from the previous FY to 2,626 million yen.
< Parts and maintenance service >Net sales of parts and maintenance service increased by 110 million yen (4.5%) from the previous FY
to 2,547 million yen.
Operating result by segment category for this fiscal year compared to the previous fiscal year
< Japan >As the sales of take-out robot increased, net sales increased by 15.8% to 14,351 million yen andoperating income increased by 73.7% from the previous FY to 1,611 million yen.
< North America >As for the subsidiary in the United States, net sales increased by 28.5% from the previous FY to 2,827
million yen and operating income increased by 86.5% to 464 million yen.
< Asia >Net sales increased by 33.9% from the previous FY to 4,632 million yen and operating income
increased by 141.9% to 690 million yen due to the good performance of the subsidiary in Korea.
< Europe >Net sales increased by 7.9% from the previous FY to 626 million yen and operating income also
increased by 69.9% from the previous FY to 94 million yen.
2) Business forecasts for the FY2015
As for the business environment surrounding the Yushin Group, although the economic recovery is
expected, only a small increase in the capital investment is anticipated within Japan since manufacturing
shifted to overseas due to the prolonged appreciation of the yen. However, overseas capital investment is
expected to be strong particularly in North America and Asia.
Under these circumstances, Yushin will extend the quality and scale of our business by developing
products to meet market demands, utilizing our global sales and service network, and strengthening
our sales capabilities,. Yushin will also attract new customer for the take-out robots while promoting
receiving orders for custom-ordered equipment.
Yushin forecasts its business performance for the FY2015, based on the current information available,
as follows.
(Millions of yen)
Net sales
Operating income
Ordinary income
Net income
19,500
3,100
3,500
2,100
Consolidated(Y/Y 8.9 %)(Y/Y 11.0 %)(Y/Y 13.1 %)(Y/Y 10.9 %)2

Yushin Precision Equipment Co., Ltd. (6482)(2) Analysis of financial condition
Overview of assets, liabilities and net assets< Assets >Total assets increased by 2,507 million yen from the end of the previous fiscal year to 26,252 million
yen due to increase of 1,687 million yen in acquisition of land for the new Headquarters building andfacility, and increase of 661 million yen in Notes and accounts receivable - trade.
< Liabilities >Total liabilities increased by 497 million yen from the end of the previous fiscal year to 4,376 million
yen. This was due to increase of 487 million yen in Income taxes payable.
< Net assets >Net assets increased by 2,010 million yen from the end of the previous fiscal year to 21,875 million yen
due to the rise of retained earnings by 1,368 million yen and foreign currency translation adjustments by
560 million yen.
Overview of cash flow
The balance of cash and cash equivalents on March 31, 2014 decreased by 58 million yen from the end of
the previous fiscal year to 7,506 million yen. Main reason is as follows.
< Cash flow from operating activities >Income before income taxes and minority interests was 3,163 million yen. After deducting 377 million
yen in increase in Notes and accounts receivable - trade, and 756 million yen in Income taxes paid, cash
flow from operating activities for the fiscal year ended March 31, 2014 was a net inflow of 2,575 million
yen (it was a net inflow of 520 million yen in the previous fiscal year).
< Cash flow from investment activities >Due to 2,264 million yen in Purchase of property, plant and equipment, cash flow from investment
activities for the fiscal year ended March 31, 2014 was a net outflow of 2,389 million yen (it was a net
outflow of 781 million yen in the previous fiscal year).
< Cash flow from financing activities >Due to Cash dividends paid of 524 million yen, cash flow from financing activities was a net outflow of
569 million yen (it was a net outflow of 351 million yen in the previous fiscal year).
Reference: Trend of cash flow indexes
FY201087.8%

FY201185.5%

FY201282.8%

FY201383.4%

FY201482.9%

Equity ratio
Equity ratio based
119.6%
123.0%
127.7%
131.6%
199.9%
on market price*Notes: 1. Equity ratio: Shareholders’ equity / Total assets
Equity ratio based on market price: Total amount of shares at market price / Total assets
2. Amortization term and interest coverage ratio is not shown since the balance ininterest-bearing debt and interest payment is insignificant.
3. Each of the above indices is calculated by the consolidated financial results.
4. Total amount of shares at market price refers to the closing market price of shares
multiplied by the number of shares outstanding excluding treasury stock on this date.

(3) Basic policy on allocation of profits
Yushin regards the allocation of profits to shareholders as one of the most important management tasks. To
this end, Yushin make efforts to maintain stable operating results and improve return on equity. Yushin’s
basic policy is to actively distribute profits to shareholders after taking into consideration each fiscal year’s
results. Specifically, Yushin has a target at the realization of 30% and more of dividend payout ratio to
non-consolidated net income.
For the fiscal year ended March 31, 2014, a full-year dividend is planned to be 30 yen per share, comprising
an interim dividend of 10 yen per share and a year-end dividend of 20 yen per share.
For the next fiscal year, based on the outlook of business and target payout ratio of 30%, Yushin plans to
pay a full-year dividend of 30 yen per share, comprising an interim dividend of 10 yen per share and a
year-end dividend of 20 yen per share.

3

Yushin Precision Equipment Co., Ltd. (6482)

2. Management Policies(1) Fundamental management policy
Yushin’s fundamental policy is to contribute widely to society through the creation of innovativetechnology that enables customers to rationalize their production activities in plastic molding industry.
Yushin conducts its business so as to live up to the trust and expectations of its customers, shareholders,
suppliers, employees, local communities and all other stakeholders.
(2) Managerial indicators for targets
Yushin has set the targets of net sales of 19,500 million yen and ordinary income of 3,500 million yen
for the FY2015.
(3) Medium and long-term management strategies
Yushin aims at becoming number-one across the board in the “take-out robot” industry, bydeveloping superior cost-effective products with its quality and performance that meet our customer
needs, and by conducting business even more aggressively in the global market.
This will be achieved by the following product strategies:- Yushin developed a new take-out robot utilizing optimum design technology in 2010. This
technology has been applied hereafter to general purpose take-out robot. It is the technology which
can largely contribute to power-saving by reducing weight and power consumption. Yushin willoffer this definitely-differentiated product by appealing the performance superiority such as
high-speed motion, vibration suppression and power-saving.
- Develop businesses in the semiconductor-related and medical-related area as new domains thathave technological synergies.
Market strategies are as follows:- Yushin has developed a sales and service network for take-out robots in the U.S, Asia, andEurope. Yushin will continuously expand and strengthen the network in areas where business is
expected to grow, including South East Asia and South America, to develop a global business that
can adequately respond to worldwide customer purchases.
- By appearing superior performance of take-out robot with high-speed motion, vibration suppression
and power-saving, Yushin will aim to develop new customers in emerging countries where laborcosts are highly rising.
- Maximally utilize the production capacity of Technical center opened in 2013 to respond to thesales increase in semiconductor-related and medical-related area.
(4) Issues to be addressed
In the existing business area, Yushin must reinforce its products including price competitiveness, andstrengthen its power of global marketing and develop world-class human resources who can sustain for
expanding our presence around the world.
In the new business area, aiming to establish multiple core businesses, Yushin must develop new
products that can manifest technological and/or sales synergies.
(5) Other significant management issue
There is no other significant management issue.

4

Yushin Precision Equipment Co., Ltd. (6482)

3. Consolidated Financial Statements(1) Consolidated balance sheets
As of March 31, 2013
Amount%(Thousands of yen)
As of March 31, 2014
ChangeAmount%Amount<ASSETS>
Current assets
Cash and deposits

7,345,829

7,728,245

382,416

Notes and accounts receivable trade

4,601,853

5,263,663

661,809

Short-term investment securities

300,000-(300,000)

Merchandise and finished goods

1,077,587

837,873(239,713)

Work in process

1,142,033

1,076,358(65,675)

Raw materials and supplies

1,808,738

2,076,333

267,594

Deferred tax assets

392,745

519,500

126,755

Other

370,154

334,029(36,124)

Allowance for doubtful accounts(16,073)(25,363)(9,290)Total current assets

17,022,868

71.7

17,810,640

67.8

787,772

Noncurrent assets
Property, plant and equipment
Buildings and structures

1,954,861

1,846,455(108,406)

68,502

111,845

43,343Land

3,953,407

5,640,928

1,687,521

Other159,649

159,405(243)

Machinery, equipment and vehicles

Total property, plant and equipment
Intangible assets

6,136,420

25.9

7,758,635

29.6

1,622,214

100,0070.4

146,080

0.6

46,072

Investments and other assets
Investment securities

246,287

230,176(16,111)-

107,464

107,464

239,568

200,015(39,552)

Allowance for doubtful accounts(686)(1,003)(316)

Total investments and other assets

485,169

2.0

536,652

2.0

51,483

Total noncurrent assets

6,721,597

28.3

8,441,368

32.2

1,719,771

Total assets

23,744,465

100.0

26,252,009

100.0

2,507,543

Net defined benefit asset
Other

5

Yushin Precision Equipment Co., Ltd. (6482)

As of March 31, 2013
Amount%(Thousands of yen)
As of March 31, 2014
ChangeAmount%Amount<LIABILITIES>Current liabilities
Notes and accounts payable - trade

1,719,798

1,696,371(23,427)

Accounts payable - other

907,062

633,809(273,252)

Income taxes payable

280,914

767,962

487,047

Advances received

264,646

388,832

124,185

Provision for bonuses

192,000

214,000

22,000

Provision for directors’ bonuses

19,72034,50014,780

Provision for product warranties

127,013

138,670

11,657

4,363

4,466

103

184,586

229,290

44,704

Deferred tax liabilities
Other
Total current liabilities
Noncurrent liabilities
Provision for directors’ retirement
benefits
Net defined benefit liability

3,700,105

15.6

4,107,905

15.7

407,799

66,78066,780--33,93833,938

Other

111,957

167,459

55,501

Total noncurrent liabilities

178,7370.7

268,178

1.0

89,4403,878,843

16.3

4,376,083

16.7

497,239

Total liabilities<NET ASSETS>
Shareholders' equity
Capital stock

1,985,666

1,985,666-

Capital surplus

2,023,903

2,023,903-

Retained earnings

16,390,498

17,758,839

1,368,341

Treasury stock(348,598)(350,265)(1,667)

Total shareholders’ equity
Accumulated other comprehensive
incomeValuation difference on
available-for-sale securities
Foreign currency translation
adjustment
Remeasurements of defined benefit
plans
Total accumulated
other comprehensive income
Minority interests

20,051,469

84.5

21,418,143

81.6

1,366,673

58,23953,416(4,822)(317,906)

242,279

560,186-

40,105

40,105(259,667)(1.1)

335,801

1.3

595,469

73,8190.3

121,980

0.4

48,160Total net assets

19,865,622

83.7

21,875,926

83.3

2,010,304

Total liabilities and net assets

23,744,465

100.0

26,252,009

100.0

2,507,543

6

Yushin Precision Equipment Co., Ltd. (6482)(2) Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income%

FY2014
Amount(Thousands of yen)
Change%Amount

14,721,643

100.0

17,909,292

100.0

3,187,649

Cost of sales

8,950,836

60.8

10,269,015

57.3

1,318,178

Gross profit

5,770,806

39.2

7,640,276

42.7

1,869,470

Selling, general and administrative
expenses

4,272,083

29.0

4,848,218

27.1

576,134

Operating income

1,498,722

10.2

2,792,058

15.6

1,293,335

FY2013
AmountNet sales

Non-operating income
Interest and dividends income

23,42920,419(3,009)Foreign exchange gains

195,020

249,737

54,717

Other

34,00035,184

1,184

Total non-operating income

252,449

1.7

305,341

1.7

52,891Non-operating expenses
Sales discounts

799

1,003

203

Other

3,799

1,138

(2,660)Total non-operating expenses

4,598

0.0

2,141

0.0

(2,457)

1,746,573

11.9

3,095,258

17.3

1,348,684

Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
Gain on sales of investment
securities

821

2,934

2,113

34,745

9,047(25,697)-

80,00080,000Subsidy income
Total extraordinary income

35,566Extraordinary loss
Loss on sales and retirement of
noncurrent assets
Total extraordinary losses

2,460
2,460

0.0

23,522

0.1

21,062

Income before income taxes andminority interests

1,779,679

12.1

3,163,717

17.7

1,384,037

Income taxes - current

571,9203.9

1,274,629

7.1

702,709

Income taxes - deferred

21,5740.1(66,217)(0.4)(87,791)

1,186,185

8.1

1,955,306

10.9

769,120

71,384

0.5

62,2780.3(9,106)

1,114,801

7.6

1,893,027

10.6

778,226

Income before minority interests
Minority interests in income
Net income

70.2

91,982

0.5

23,52256,41521,062

Yushin Precision Equipment Co., Ltd. (6482)

Consolidated statements of comprehensive income
FY2013
Income before minority interests

FY2014(Thousands of yen)
Change1,186,185

1,955,306

769,120

10,662(4,822)(15,485)

275,465

577,276

301,810286,128

572,454286,325

1,472,313

2,527,760

1,055,446

1,388,730

2,448,391

1,059,661

83,58379,368(4,215)

Other comprehensive income
Valuation difference on
available-for-sale securities
Foreign currency translation
adjustments
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toowners of the parent
Comprehensive income attributable tominority interests

8

Yushin Precision Equipment Co., Ltd. (6482)(3) Consolidated statements of changes in net assets
FY2013 (As of March 31, 2013)(Thousands of Yen)
Shareholders’ equity

Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income
Purchase of treasurystock
Net changes of items
other than shareholders’equityTotal changes of items
during the period
Balance at the end of current
periodCapital stock

Capital Surplus

Retained earnings

Treasury
stock

Total
Shareholders’ equity

1,985,666

2,023,903

15,625,496(347,903)

19,287,162(349,799)(349,799)

1,114,801

1,114,801
(694)

(694)

-

-

765,001(694)

764,307

1,985,666

2,023,903

16,390,498(348,598)

20,051,469

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities
Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income
Purchase of treasurystock
Net changes of items
other than shareholders’equityTotal changes of items
during the period
Balance at the end of current
periodRemeasurementsof defined benefit
plans

Total accumulated othercomprehensive income

47,576(581,173)-(533,596)

10,662

263,266-

273,929

10,662

263,266-

273,929

58,239(317,906)-(259,667)

Minority interests
Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income
Purchase of treasurystock
Net changes of items
other than shareholders’equityTotal changes of items
during the period
Balance at the end of current
periodForeign currencytranslation
adjustment

Total net assets

33,77818,787,344(349,799)
1,114,801(694)
40,041

313,970

40,041

1,078,277

73,81919,865,622

9

Yushin Precision Equipment Co., Ltd. (6482)

FY2014 (As of March 31, 2014)(Thousands of Yen)
Shareholders’ equity

Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income
Purchase of treasurystock
Net changes of items
other than shareholders’equityTotal changes of items
during the period
Balance at the end of current
periodCapital stock

Capital Surplus

Retained earnings

Treasury
stock

Total
Shareholders’ equity

1,985,666

2,023,903

16,390,498(348,598)

20,051,469

Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income
Purchase of treasurystock
Net changes of items
other than shareholders’equityTotal changes of items
during the period
Balance at the end of current
period(524,686)

1,893,027

1,893,027(1,667)(1,667)--

1,368,341(1,667)

1,366,673

1,985,666

2,023,903

17,758,839(350,265)

21,418,143

Valuation difference
on available-for-salesecurities
Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income
Purchase of treasurystock
Net changes of items
other than shareholders’equityTotal changes of items
during the period
Balance at the end of current
period(524,686)

Accumulated other comprehensive income
Foreign currency
Remeasurements
Total accumulated othertranslationof defined benefit
comprehensive income
adjustment
plans

58,239(317,906)-(259,667)(4,822)560,186

40,105595,469(4,822)560,186

40,105595,469

53,416242,279

40,105335,801

Minority interests

Total net assets

73,81919,865,622(524,686)
1,893,027(1,667)
48,160643,630

48,1602,010,304

121,980

21,875,926

10

Yushin Precision Equipment Co., Ltd. (6482)(4) Consolidated statements of cash flows

Net cash provided by (used in) operating activities
Income before income taxes and minority interests
Depreciation and amortization
Increase (decrease) in allowance for doubtful
accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for directors’
bonuses
Increase (decrease) in net defined benefit liability
Interest and dividends income
Loss (gain) on sales of investment securities
Decrease (increase) in notes and accounts receivable- tradeDecrease (increase) in inventories
Increase (decrease) in notes and accounts payable- tradeIncrease (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends income received
Income taxes paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities
Payments into time deposits
Payback of time deposits
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sales of investment securities
Proceeds from collections of long-term loan
receivable
Net cash provided by (used in) investing activities
Net cash provided by (used in) financing activities
Proceeds from stock issuance from minority
shareholders
Purchase of treasury stock
Cash dividends paid
Payment of dividends to minority shareholders
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 beginning of period
Cash and cash equivalents at end of period

11(Thousands of yen)
ChangeFY2013

FY2014

1,779,679
221,464

3,163,717
336,394

1,384,037
114,930(40,809)

7,420

48,23012,00022,00010,0002,770

14,78012,010(23,429)(34,745)(39,251)(20,419)(9,047)(39,251)
3,009
25,697

226,556(377,112)(603,669)(258,676)

315,950

574,626(818,031)(366,946)

451,085

50,311
28,035
1,145,125
23,426(648,161)
520,390

204,606
59,2793,311,372
20,492(756,454)
2,575,410

154,295
31,244
2,166,246(2,933)(108,293)
2,055,020(71,000)
35,500(777,075)
1,790(16,105)(1,601)
46,745(198,662)
89,400(2,264,993)
3,559(36,259)(1,207)
18,540(127,662)
53,900(1,487,917)
1,768(20,153)393(28,205)

32

-

(32)

(781,714)(2,389,624)(1,607,909)

240

-

(240)

(694)
(350,329)(1,159)(351,943)(1,667)(524,064)(43,783)(569,514)(972)(173,734)(42,623)(217,570)

164,778

325,456

160,678(448,489)
8,013,318
7,564,829(58,270)
7,564,829
7,506,558

390,218(448,489)(58,270)

Yushin Precision Equipment Co., Ltd. (6482)(5) Notes to consolidated financial statements
Events or conditions raising significant questions regarding assumption of going concerns
Non applicable
Changes in accounting policies
Adoption of Accounting Standard for Retirement Benefits
Effective from this fiscal year ended March 31, 2014, the Company adopted the AccountingStandard for Retirement Benefits (Accounting Standards Board of Japan [ASBJ] Statement No. 26
issued on May 17, 2012; hereafter “the Accounting Standard for Retirement Benefits”), and its
Guidance on Accounting Standard for Retirement Benefits (ASBJ Guidance No. 25 issued on May 17,
2012; hereafter “the Guidance on Retirement Benefits”) (But, except article 35 of ASBJ Statement No.
26 and article 67 of ASBJ Guidance No. 25). Under the new Accounting standard, pension assets are
deducted from retirement benefit obligations and the net amount is recognized as Net defined benefit
asset and Net defined benefit liability, and unrecognized actuarial gains or losses, and unrecognizedprior services costs are recorded as Net defined benefit asset and Net defined benefit liability.
Regarding to the adoption of “the Accounting Standard for Retirement Benefits”, in accordancewith transitional accounting as stipulated in Article 37 of “the Accounting Standard for Retirement
Benefits”, the effect of the changes in accounting policies arising from initial application is recognized
as Remeasurements of defined benefit plans in Accumulated other comprehensive income as of March
31, 2014.
As a result, Net defined benefit asset on the consolidated balance sheet was 107,464 thousand yen
and Net defined benefit liability was 33,938 thousand yen as of March 31, 2014. And Accumulated
other comprehensive income on the consolidated balance sheet increased by 40,105 thousand yen.
Also noted that the effect on Net assets per share increased by 2.29 yen.
Segment information etc.
Segment information
1. Overview of reportable segment
Segments used for financial reporting are the Company’s constituent units for which separate
financial information is available and for which the Board of Directors performs periodic studies forthe purposes of determining the allocation of resources and evaluating performance.
Yushin carries out the development, production, sales and after-sales maintenance of take-out
robots for injection-molded products and peripheral equipment, including labor-saving systems. In
the domestic market, these operations are handled by the Company; overseas markets - North
America, Asia (South Korea, Taiwan, China, Indonesia, Vietnam, Malaysia, Thailand and India)
and Europe (UK) - are serviced by local subsidiaries, including Yushin America Inc. (US), Yushin
Korea Co., Ltd. (South Korea) and Yushin Automation Limited (Europe). The local subsidiaries are
independently managed units, with separately drafted strategies and activities.
Accordingly, Yushin's operations, based on its production, sales and after-sales maintenancesetups, are geographically grouped into four reportable segments: Japan, North America, Asia andEurope.
2. Method of calculating sales and income (loss), identifiable assets, and other items by businesssegment reported
Accounting policies for the reportable business segments are the same as “Basis of Presenting
Consideration Financial Statements”.
Income by business segment reported is calculated based on operating income.
Inter-segment income and transfer are based on realized market price basis.

12

Yushin Precision Equipment Co., Ltd. (6482)

3. Information related to sales and profit or loss for each reportable segment
FY2013 (from April 1, 2012 to March 31, 2013)(Thousands of yen)
Reportable segment
Japan

North
America

Asia

Europe

Total

Adjustment*1

Amounts
shown onconsolidated
statements ofincome *2

Net sales
Sales to customers
8,733,814
2,195,063
3,223,954
568,811
14,721,643
14,721,643
Inter-segment sales
3,660,060
4,850
236,475
12,114
3,913,501(3,913,501)
Total
12,393,875
2,199,913
3,460,430
580,925
18,635,144(3,913,501)
14,721,643
Segment profit
927,680249,237
285,471
55,714
1,518,104(19,381)
1,498,722
Segment assets
14,745,629
1,310,891
2,420,438
380,30718,857,267
4,887,198
23,744,465
Other items
Depreciation and
132,813
19,59912,091
5,754
170,258
170,258
amortization
Increment of tangible
1,177,271
17,74522,3607,889
1,225,267
1,225,267& intangible assets*Notes 1: Adjustment is as follows.
(1) The (19,381) thousand yen adjustment to segment profit includes eliminations for inter-segment
transactions of 37,069 thousand yen and inventory adjustments of (56,450) thousand yen.
(2) The 4,887,198 thousand yen adjustment to segment assets includes eliminations forinter-segment transactions of (2,161,166) thousand yen and operating funds of surplus assets
by the Company (cash and deposits, securities) of 7,048,365 thousand yen.
*Notes 2: Segment profit is adjusted to be consistent with operating income shown on the consolidated statements
of income.
FY2014 (from April 1, 2013 to March 31, 2014)(Thousands of yen)
Reportable segment
Japan

North
America

Asia

Europe

Total

Adjustment*1

Amounts
shown onconsolidated
statements ofincome *2

Net sales
Sales to customers
10,132,670
2,802,486
4,355,384
618,751
17,909,292
17,909,292
Inter-segment sales
4,218,570
25,255277,392
8,056
4,529,275(4,529,275)
Total
14,351,240
2,827,741
4,632,776
626,808
22,438,567(4,529,275)
17,909,292
Segment profit
1,611,488
464,896
690,467
94,6582,861,511(69,452)
2,792,058
Segment assets
16,207,281
1,797,913
3,194,755
569,821
21,769,772
4,482,237
26,252,009
Other items
Depreciation and
230,205
25,07818,218
8,665
282,168
282,168
amortization
Increment of tangible
1,856,082
20,94334,001
13,682
1,924,710
1,924,710& intangible assets*Notes 1: Adjustment is as follows.
(1) The (69,452) thousand yen adjustment to segment profit includes eliminations for inter-segment
transactions of 7,920 thousand yen and inventory adjustments of (77,373) thousand yen.
(2) The 4,482,237 thousand yen adjustment to segment assets includes eliminations forinter-segment transactions of (2,173,873) thousand yen and operating funds of surplus assets
by the Company (cash and deposits, securities) of 6,593,931 thousand yen.
*Notes 2: Segment profit is adjusted to be consistent with operating income shown on the consolidated statements
of income.

13

Yushin Precision Equipment Co., Ltd. (6482)

Per share indexes(Yen)
FY2013

FY2014Book-value per share (BPS)

1,131.63

1,243.88

Earnings per share (EPS)

63.74

108.24*Notes 1: Net income per share fully diluted is not shown since there is none.

*Notes 2: The bases for calculating Earnings per share (EPS) are followings.
(Thousands of yen)
FY2013
A: Net income

FY2014
1,114,801

1,893,027--

1,114,801

1,893,027

17,489,873 shares

17,489,268 shares

B: Non-stockholders’ equity
A-B: Net income for common shares
Average number of shares*Notes 3: The bases for calculating Book-value per share (BPS) are followings.
(Thousands of yen)
As of March 31, 2013
Total net assets
Amounts deducted from total net assets(Portion of minority interest)
Net assets at fiscal year-end applicable tocommon shares
Number of common shares at fiscal
year-end used in calculating book-value per
share

Significant subsequent events
Non applicable14

As of March 31, 2014

19,865,622

21,875,926

73,819

121,980(73,819)(121,980)

19,791,802

21,753,945

17,489,657 shares

17,488,836 shares

Yushin Precision Equipment Co., Ltd. (6482)

Order, backlog and sales(1) Orders
1) Order received
Products(Thousands of yen)
FY2013

FY2014

Changes (%)

Take-out robots

10,173,320

12,593,960

23.8

Custom-ordered equipments

1,666,035

2,874,853

72.6

Parts and maintenance service

2,423,982

2,516,442

3.8

Total

14,263,339

17,985,255

26.1

2) Backlog of orders
Products(Thousands of yen)
As of March 31, 2013

As of March 31, 2014

1,626,952

1,484,706(8.7)

Custom-ordered equipments

349,842598,649

71.1

Parts and maintenance service

146,247

115,649(20.9)

Total

2,123,041

2,199,005

3.6

Take-out robots(Thousands of yen)

(2) Net sales
Products

Changes (%)

FY2013

FY2014

Changes (%)

Take-out robots

10,141,284

12,736,206

25.6

Custom-ordered equipments

2,144,021

2,626,046

22.5

Parts and maintenance service

2,436,336

2,547,039

4.5

Total

14,721,643

17,909,292

21.7

Overseas sales
FY2013 (from April 1, 2012 to March 31, 2013)
North
AmericaI

Overseas sales

2,215,551

Asia

Europe6,411,723

824,311(Thousands of yen)
Other
Total
areas
181,954

II Consolidated net sales
III Ratio of overseas sales toconsolidated net sales (%)

14,721,643
15.0

FY2014 (from April 1, 2013 to March 31, 2014)
North
AmericaI

Overseas sales

2,917,996

43.6

5.6

Asia

Europe7,459,438

1,352,645

1.2

65.4

(Thousands of yen)
Other
Total
areas
484,277 12,214,358

II Consolidated net sales
III Ratio of overseas sales toconsolidated net sales (%)

9,633,541

17,909,292
16.3

15

41.7

7.6

2.7

68.2

Yushin Precision Equipment Co., Ltd. (6482)

4. Non-consolidated Financial Statements(1) Non-consolidated balance sheets(Thousands of yen)

<ASSETS>
Current assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Short-term investment securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Prepaid expenses
Consumption taxes receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Buildings
Structures
Machinery and equipment
VehiclesTools, furniture and fixtures
Land
Lease assets
Construction in progress
Total property, plant and equipment
Intangible assets
Telephone subscription right
Right of trademark
SoftwareTotal intangible assets
Investments and other assets
Investment securities
Stocks of subsidiaries and affiliates
Investments in capital
Investments in capital ofsubsidiaries and affiliates
Claims provable in bankruptcy,
claims provable in rehabilitation andother
Guarantee deposits
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

As of March 31, 2013
Amount%As of March 31, 2014
Amount%ChangeAmount6,103,188924,3034,367,120
300,000
788,952
1,076,456
1,247,618
43,704
161,842
195,949
141,618(10,500)
15,340,255

67.6

5,833,753
970,843
4,642,795
496,928
989,6121,289,649
36,47987,793
255,484
152,885(10,000)
14,746,227

62.2(269,434)
46,540275,675(300,000)(292,023)(86,843)
42,030(7,224)(74,048)
59,535
11,266500(594,027)

25.4

1,508,027
123,459
33,581
1,211
90,7385,490,953
22,254
5,775
7,276,002

30.7(190,217)
39,0602,482
996(5,664)
1,659,523
6,533
2,409
1,515,124

0.1

11,43095
43,04054,5660.2(300)
30,10629,806

1,698,244
84,39831,099215
96,402
3,831,429
15,721
3,366
5,760,878
11,430395
12,934
24,760246,287
789,460
170

230,176
789,460
170(16,111)-

267,132

297,873

30,741

686

1,003

316

29,184
51,840189,517(686)
1,573,592
7,359,231
22,699,486

27,61479,816
191,938(1,003)
1,617,049
8,947,618
23,693,846(1,570)27,9762,420(316)
43,456
1,588,387
994,359

16

6.9
32.4
100.0

6.8
37.8
100.0

Yushin Precision Equipment Co., Ltd. (6482)

As of March 31, 2013
Amount%<LIABILITIES>Current liabilities
Notes payable - trade
Accounts payable - trade
Lease obligations
Accounts payable - otherAccrued expenses
Income taxes payable
Advances received
Deposits received
Provision for bonuses
Provision for directors’ bonuses
Provision for product warranties
Notes payable - facilities
Total current liabilities
Noncurrent liabilities
Lease obligations
Provision for directors’ retirement
benefitLong-term guarantee deposited
Total noncurrent liabilities
Total liabilities<NET ASSETS>
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for dividend equalization
General reserve
Retained earnings brought
forward
Total retained earnings
Treasury stock
Total Shareholders’ equity
Valuation and translation adjustments
Valuation difference on
available-for-sale securities
Total valuation and translation
adjustments
Total net assets
Total liabilities and net assets

72,486
1,965,231
2,849
846,528
72,507
188,974
92,59913,327
192,000
19,72067,50031,9253,565,651(Thousands of yen)
As of March 31, 2014
ChangeAmount%Amount22,394
1,831,340
5,019
567,516
68,516
601,878
23,786
12,973214,000
34,50087,000708
15.7

3,469,635(50,091)(133,890)
2,170(279,012)(3,991)
412,903(68,813)(354)
22,00014,78019,500(31,216)
14.6(96,016)

13,692

18,507

4,815

66,78066,780-620
81,092
3,646,744

0.4
16.1

580
85,8673,555,502

0.4
15.0

(40)
4,775
(91,241)

1,985,666
2,023,903

8.7
8.9

1,985,666
2,023,903

8.4
8.6

-

286,314286,314-1,000,000
8,700,000

1,000,000
8,700,000-

5,347,216

6,439,307

1,092,090

15,333,531(348,598)
18,994,503

67.6
(1.5)
83.7

16,425,622(350,265)
20,084,926

69.3
(1.5)
84.8

1,092,090(1,667)
1,090,423

58,2390.2

53,4160.2(4,822)

58,2390.2

53,4160.2(4,822)

19,052,742
22,699,486

83.9
100.0

20,138,343
23,693,846

85.0
100.0

1,085,601
994,35917

Yushin Precision Equipment Co., Ltd. (6482)(2) Non-consolidated statements of income%

FY2014
Amount(Thousands of yen)
Change%Amount12,393,875

100.0

14,351,240

100.0

1,957,365

Cost of sales

8,026,110

64.8

9,060,468

63.1

1,034,358

Gross profit
Selling, general and administrative
expenses
Operating income

4,367,764

35.2

5,290,772

36.9

923,0073,440,084

27.7

3,679,283

25.6

239,199

927,680

7.5

1,611,488

11.2

683,807

FY2013
AmountNet sales

Non-operating income
Interest income

13,4739,524(3,948)

403

82

(321)

Dividends income

270,004

589,358

319,354

Purchase discounts

10,777

12,233

1,456

Foreign exchange gains

40,21323,302(16,911)

Other

27,64914,815(12,833)

Total non-operating income

362,521

Interest on securities

2.9

649,317

4.5

286,796

Non-operating expenses
Sales discounts

799

1,003

203

Other

591

1,013

421

Total non-operating expenses
Ordinary income

1,390

0.0

2,016

0.0

625

1,288,811

10.4

2,258,789

15.7

969,978

Extraordinary income

Gain on sales of noncurrent assets
Gain on sales of investment
securities
Subsidy income
Total extraordinary income

-

10

10

34,745

9,047(25,697)-

80,00080,00034,745

0.3

89,0570.6

54,312Extraordinary loss
Loss on sales and retirement of
noncurrent assets
Loss on liquidation of subsidiaries
and affiliates
Total extraordinary losses

1,645

23,475

21,830

292

-

(292)

1,938

0.0

23,4750.2

21,537

1,321,618

10.7

2,324,371

16.2

1,002,753

Income taxes - current

373,660

3.0

792,102

5.5

418,441

Income taxes - deferred

6,032

0.1

(84,507)(0.6)(90,539)

941,925

7.6

1,616,777

11.3

674,852

Income before income taxes

Net income

18

Yushin Precision Equipment Co., Ltd. (6482)(3) Non-consolidated statements of changes in net assets
FY2013 (As of March 31, 2013)(Thousands of Yen)
Shareholders’ equity
Capital Surplus

Capital stock
Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus

Legal Capital Surplus

Total Capital Surplus

1,985,666

2,023,903

2,023,903---

1,985,666

2,023,903

2,023,903

Net income
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items
during the period
Balance at the end ofcurrent period

Shareholders’ equity
Retained earnings
Other retained earnings
Legal retained
earnings
Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items
during the period
Balance at the end of current
periodReserve for dividend
equalization

286,3141,000,000

Generalreserve

Retained earnings
brought forward

8,700,000

Total
retainedearnings

4,755,090

14,741,405(349,799)
941,925(349,799)
941,925---

592,125

592,125

286,3141,000,000

8,700,000

5,347,216

15,333,531

Shareholders’ equity
Treasurystock
Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income(347,903)

Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items
during the period
Balance at the end of current
period(694)

Valuation and translation adjustments

Total
Shareholders’equityValuation difference
on available-for-salesecurities

Total Valuationand translation
adjustments

Total net assets

18,403,072

47,57647,576

18,450,648(349,799)
941,925(349,799)
941,925

(694)

(694)
10,662

10,662

10,662(694)

591,431

10,662

10,662602,093(348,598)

18,994,503

58,23958,23919,052,742

19

Yushin Precision Equipment Co., Ltd. (6482)

FY2014 (As of March 31, 2014)(Thousands of Yen)
Shareholders’ equity
Capital Surplus

Capital stock
Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus

Legal Capital Surplus

Total Capital Surplus

1,985,666

2,023,903

2,023,903---

1,985,666

2,023,903

2,023,903

Net income
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items
during the period
Balance at the end ofcurrent period

Shareholders’ equity
Retained earnings
Other retained earnings
Legal retained
earnings
Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income
Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items
during the period
Balance at the end of current
periodReserve for dividend
equalization

286,3141,000,000

Generalreserve

Retained earnings
brought forward

8,700,000

Total
retainedearnings

5,347,216

15,333,531(524,686)
1,616,777(524,686)
1,616,777---

1,092,090

1,092,090

286,3141,000,000

8,700,000

6,439,307

16,425,622

Shareholders’ equity
Treasurystock
Balance at the beginning ofcurrent period
Changes of items during theperiodDividends from surplus
Net income(348,598)

Purchase of treasury stock
Net changes of items otherthan shareholders’ equity
Total changes of items
during the period
Balance at the end of current
period

(1,667)

Valuation and translation adjustments

Total
Shareholders’equityValuation difference
on available-for-salesecurities

Total Valuationand translation
adjustments

Total net assets

18,994,503

58,23958,23919,052,742(524,686)
1,616,777(524,686)
1,616,777(1,667)(1,667)(4,822)(4,822)(4,822)(1,667)

1,090,423(4,822)(4,822)

1,085,601(350,265)

20,084,926

53,41653,416

20,138,343

20

Yushin Precision Equipment Co., Ltd. (6482)

5. Other information(1) Executive Appointment
1. Representative
Non applicable
2. Other Members (Effective on June 26, 2014)
Candidate for Director
Outside Director: Yasuo Nishiguchi
Outside Director: Hiroshi Matsuhisa

21