SANIX INCORPORATED
Summary of Consolidated Financial Statements
For the Third Quarter Ended December 31, 2016
[Japanese Standards]

The financial figures in this document are based on Japanese Accounting Standards and accompanying laws. Amounts arerounded off to 1 decimal place. This document is an English translation of the Japanese-language original.

Consolidated Financial Statements for the Third Quarter ended December 31, 2016
SANIX INCORPORATED
Stock Listed:Tokyo Stock Exchange First Section, Fukuoka Stock Exchange

Code No;

4651

URL:

http://sanix.jp

President and CEO:

Hiroshi Munemasa

Contact:

Kozo Inoue, Director, Management Corporate Officer,
General Manager of Management & Planning Division

1. Business Results – Operating results for the Third Quarter ended December 31,
2016 (April 1, 2016 to December 31, 2016)(1) Consolidated Operating Results(In Millions of Yen)First Half
From April 1 to December 31
FY2016FY2015%change

Net Sales······························································

36,633Operating Income ··················································%change(20.2%)

45,921(34.1%)

674－(2,857)－

Ordinary Income ····················································

452－(2,709)－Net Income ···························································

51－(3,492)－Net Income per Share (¥) ········································(¥1.08)－(¥73.06)－

Net Income per Share, Diluted(¥)······························

－

－

－

－

(Note) Comprehensive Income ································

(75)

－

(3,523)－(2) Consolidated Financial Position(In Millions of Yen)
As of December 31

As of March 31

FY2016FY2015

Total Assets ···························································

32,172

31,248Net Assets ····························································

2,553

2,629

Shareholders’ Equity Ratio (%) ·······························

7.8%

8.3%

Net assets per share(¥) ···········································¥52.72¥54.34(Reference) Equity Capital ·······································

2,520

2,597

2. Dividends
At the end of
1st

2nd

3rd

4th

Quarter

Quarter

Quarter

Quarter
0.00

0.00

0.00

0.00

Annual(Dividend per Share)
FY2015 ended March 31, 2016······························

0.00

0.00

0.00

FY2016 ended March 31, 2017······························

0.00

0.00

0.00

FY2016 ended March 31, 2017 (Forecast)···············

3. Forecasts for Consolidated Business Results (April 1, 2016 to March 31, 2017)(In Millions of Yen)
Fiscal Year 2016
Full Year%change

Net Sales······························································

46,670(24.6%)

Operating Income ··················································

600－

Ordinary Income ····················································

480－

Net Income ···························································

(60)

－

Net Income per Share (¥) ········································(¥1.26)* Notes(1) Quarterly Changes in significant subsidiaries during the period(Changes in scope of consolidations resulting from change in subsidiaries): None
Number of subsidiaries newly consolidated－
Name of subsidiaries newly consolidated－
Number of subsidiaries excluded from consolidation－
Name of subsidiaries excluded from consolidation－(2) Application of Particular Accounting Procedures to the Preparation of Quarterly Consolidated Financial
Statements: None(3) Quarterly Changes in accounting policies and accounting estimates retrospective restatementⅰ) Changes in accounting policies based on revisions of accounting standard: Noneⅱ) Changes in accounting policies other than ones based on revisions of accounting standard: Noneⅲ) Changes in accounting estimates: Noneⅳ) Retrospective restatement: None(4) Quarterly - Number of issued and outstanding shares (common stock)(Shares)
First Half

Full Year

Dec. 31, 2016

March 31, 2016

Number of issued and outstanding shares ,end of period (including treasury stock)48,919,396

48,919,396

Number of treasury stock at the end of period ······················································

1,113,618

1,113,443

Average number of shares during the period ·······················································

47,805,865* 47,806,196* September 30, 2015

* Indication of Implementation status about the quarterly review:
This summary of financial statements is exempt from audit procedure required by Financial instruments and Exchange Act. It
has finished at the time of disclosure of this summary of financial statements.

* Note to ensure appropriate use of forecasts:
Forecasts in this document are based on assumptions, prospects and plans as of the date of this document. Actual results may
differ significantly from these forecasts, due to various factors affecting the Company’s business performance, such as change ineconomical conditions. For details of these assumptions, prospects and plans, and for notes appropriate use of forecasts for thebusiness results, please see page 2 of the Attachment.

Index of the attachment
1. Qualitative Information for the first three quarters ended December 31,
2016 ........................................................................................................................ 2(1) Information of Consolidated Business Results....................................................................... 2(2) Information of Consolidated Financial Position ...................................................................... 3(3) Information on the Future Outlook,
Including the Forecasts of Consolidated Business Results ................................................. 4

2. Matters relating to Summary Information (Notes)........................................................ 5(1) Quarterly Changes in Significant Subsidiaries during the Period........................................ 5(2) Application of Particular Accounting Proceduresto the Preparation of Quarterly Consolidated Financial Statements ................................... 5(3) Quarterly Changes in Accounting Policies and Changes or Restatement of
Accounting Estimates. ..................................................................................................... 5(4) Added Information ...................................................................................................................... 5

3. Important Information regarding Assumption of Going Concern ......................... 6
4. Quarterly Consolidated Financial Statements for the first three quarters
ended December 31, 2016 ....................................................................................................... 8(1) Quarterly Consolidated Balance Sheets ................................................................................. 8(2) Quarterly Consolidated Statements of Income and Comprehensive Income .................... 10
Quarterly Consolidated Statements of Income
for the first three quarters of the fiscal year ending March 31,2017 ............................... 10
Quarterly Consolidated Statements of Comprehensive Income
for the first three quarters of the fiscal year ending March 31,2017 ............................... 11(3) Notes to the Quarterly Consolidated Financial Statements.................................................. 12
Notes to the Assumption of a Going Concern ........................................................................ 12
Notes to Remarkable changes in the amount of shareholders’ equity ............................... 13
Segment Information, etc. ....................................................................................................... 13

5. Supplement Information .......................................................................................................... 15
Consolidated Net Sales by Division ......................................................................................... 15

2

1. Qualitative Information for the first three quarters ended December 31,
2016(1) Information of Consolidated Business Results
In the first three quarters of the fiscal year ending March 31, 2017 (April 1, 2016 to
December 31, 2016), the Japanese economy continued to follow a modest recovery
path, with improved employment and income conditions. However, the economic
outlook remained uncertain due to concerns such as sluggish consumer spending,growing uncertainty about overseas economies and the risk of sharp fluctuations inforeign exchange rates.
In this business environment, the Group recognizes the need to further strengthen its
business foundations to achieve sustainable growth, and began to execute its new
medium-term business plan (FY2016-FY2018) in April 2016. Under its policy of
promoting management reform, in the first three quarters under review, the Group has
been pursuing initiatives that include implementing a voluntary retirement program,consolidating and eliminating stores, and downsizing logistics and production
operations with the aim of building an appropriate business scale.
As for sales in the first three quarters under review, the Solar Engineering (SE)Division was unable to avoid the adverse effect of changes in the environment and thecontraction of the market for the solar electric power business, and sales declined
sharply. As a consequence, the net sales of the entire Group were ¥36,633 million(decreased 20.2% year on year).
In terms of profitability, although sales declined sharply in the SE Division, cost
reductions as a result of management rationalization initiatives and lower materials
costs, among other factors, led to an improvement in the gross margin and a significant
fall in selling, general and administrative expenses, and income moved into the black at
all levels in the first three quarters under review. As a consequence, for the wholeGroup, operating income was ¥674 million compared to an operating loss of ¥2,857
million in the same period of the previous year, and ordinary income was ¥452 million
compared to an ordinary loss of ¥2,709 million in the same period of the previous year.
The Group posted expenses related to voluntary retirement of ¥177 million, including
special retirement allowances, as extraordinary losses. The Group posted net income
belonging to the shareholders of the parent company of ¥51 million, compared to a net
loss belonging to the shareholders of the parent company of ¥3,492 million in the same
period of the previous year.
Consolidated results of individual divisions for the first three quarters under review
were as follows:a. Solar Engineering (SE) Division

3

Sales of PV systems decreased 30.6% year on year, and wholesale sales of PV
systems declined 70.0% year on year, reflecting a decline in the number of installationsof commercial PV systems due to the contraction of the market environment in the solar
electric power business. As a consequence, sales were ¥18,597 million (decreased
36.5% year on year).
Despite the sharp decline in sales, operating income increased significantly to ¥1,247
million, compared to an operating loss of ¥1,349 million in the same period of theprevious year, reflecting the reduction of personnel and other expenses mainly due tomanagement rationalization and a focus on cost reductions, including costs of materials
such as photovoltaic modules.
b. Home Sanitation (HS) Division
Sales of basic repair and house reinforcement construction services for ordinary
homes rose from a year ago, while sales of termite control services fell from a year
earlier. As a result, sales were ¥4,941 million (decreased 2.1% year on year.
Operating income stood at ¥767 million (increased 40.0% year on year) mainly
thanks to cost reductions due to a focus on management rationalization, despite thedecrease in segment sales.
c. Establishment Sanitation (ES) Division
Sales

in

anti-rustequipment

installation

andwaterproofingofbuildings,

maintenance-related services for buildings and condominiums, increased from a year
ago. As a result, net sales were ¥746 million (increased 10.5% year on year).
Operating income came to ¥55 million (increased 70.5% year on year) mainly due tothe increase in segment sales.
d. Environmental Resources Development (ERD) Division
Plastic fuel sales secured the level of a year earlier, despite the lower collection
volume of waste plastic due to a rise in unit prices primarily for regular properties.
Electricity sales rose 63.2% year on year due to a sharp rise in the number of sales tohigh-voltage consumers in the PPS (power producer and supplier) business. As aconsequence, sales were ¥12,348 million (increased 13.3% year on year).
Operating income stood at ¥678 million (increased 254.7% year on year), reflecting
an improvement in the gross margin mainly attributable to the revision of unit prices forthe collection of waste plastic, a fall in costs such as inspection and repair costs at
Tomakomai Power Plant, and an increase in the collection volume of organic waste
water recycling.

(2) Information of Consolidated Financial Position
The status of Assets, Liabilities and Net Assets
Total assets as of the end of the first three quarters under review were ¥32,172

4million, an increase of ¥924 million compared with the end of the previous consolidated
fiscal year, mainly due to an increase in cash and deposits of ¥2,176 million, while
notes and accounts receivable-trade and raw materials and supplies decreased by¥498 million and ¥568 million, respectively.
Total liabilities were ¥29,618 million, an increase of ¥999 million compared with theend of the previous consolidated fiscal year, mainly due to an increase in short-termloans payable notes of ¥3,389 million, despite a decrease in accounts payable-trade of¥1,211 million, a decrease in the current portion of long-term loans payable of ¥270
million, a decrease in accounts payable-other of ¥211 million, and a decrease inlong-term loans payable of ¥471 million.
Net assets were ¥2,553 million, a decrease of ¥75 million compared with the end of
the previous consolidated fiscal year, mainly due to a decrease in adjustment for
retirement benefits (cumulative) of ¥111 million, despite the posting of net income
belonging to the shareholders of the parent company of ¥51 million.
As a consequence, the shareholders’ equity ratio was 7.8%, compared with 8.3% at
the end of the previous consolidated fiscal year.

(3) Information on the Future Outlook, Including the Forecasts of Consolidated
Business Results
There is no change in the forecast of consolidated business results for the current
fiscal year ending March 31, 2017, from the forecasts announce on May 12, 2016.

5

2. Matters relating to Summary Information (Notes)(1) Quarterly Changes in Significant Subsidiaries during the Period: NoneOn August 12, 2016, the Company established Shanri (Shanghai) Energy Scienceand Technology Co., Ltd. and includes the company in the scope of consolidationfrom the second quarter. The company is not a specified subsidiary.

(2) Application of Particular Accounting Procedures to the Preparation of Quarterly
Consolidated Financial Statements: None(3) Quarterly Changes in Accounting Policies and Changes or Restatement of
Accounting Estimates: None(4)Added Information: Application of the Implementation Guidance on Recoverability of Deferred Tax
AssetsFrom the first quarter of this fiscal year, the Company has been applying the
Implementation Guidance on Recoverability of Deferred Tax Assets (ASBJ Guidance
No. 26, March 28, 2016).

6

3. Important Information regarding Assumption of Going Concern
The Group (the Company and its consolidated subsidiaries) recorded a significant
operating loss, ordinary loss, and net loss belonging to the shareholders of the parent
company both in the fiscal year ended March 31, 2015 and the fiscal year ended March
31, 2016. However, in the first three quarters under review, the Group recorded
operating income of ¥674 million, ordinary income of ¥452 million and net income
belonging to the shareholders of the parent company of ¥51 million. Nevertheless, theGroup is still in the course of achieving the medium-term business plan, and its
interest-bearing debt is ¥15,360 million, which is high compared with its liquidity on
hand. Accordingly, the Company recognizes that it is still susceptible to events andconditions that cast significant doubt on going concern assumptions.
To overcome the situation, the Company believes that, in light of the businessenvironment surrounding the solar electric power business, it is essential to further
strengthen the business foundation to achieve sustainable growth. The Company isthus focusing on the following measures as part of the medium-term business plan
(FY2016 - FY2018) announced on April 15, 2016.
ⅰ) A well-balanced allocation of management resources to business divisions
The Company is scaling down the SE Division to an appropriate size based on areasonable analysis of the external environment, rebuilding the HS Division and ESDivision, and further improving efficiency of the Environmental Resources
Development Division.
ⅱ) Strengthening the business base through thorough streamlining
The Company is disposing of assets in accordance with the downsizing of the SE
Division (the elimination and consolidation of stores, the scaling down of the
production of power conditioners, the downsizing of logistics and production
operations, and the closing of a logistics center).
The Company called for voluntary retirement (approximately 500 employees) to
reduce employee numbers to an appropriate level for its sales and, as a result, 391
employees took voluntary retirement, which was fewer than the number called for but
is more or less in line with the initial plan if natural attrition is taken into account. The
Company is also reducing the wages of all employees across the board.
ⅲ) Enhancement of the governance system
At the 38th Annual general Meeting of Shareholders held on June 29, 2016, theCompany increased the number of outside directors by one to a total of three. The
Company is also strengthening the management oversight functions of the Board of
Directors and changing the business execution system to clarify the responsibilities of

7each business division.

The Company expects that its profitability will improve through these initiatives andwill remain in the black. The medium-term business plan (FY2016 - FY2018) has
been formulated on the assumption of the continued support of the main financing
bank. The Company expects to continue to receive support and cooperation in
financing and will work to stabilize cash management.
However, we have not completed these initiatives, and the support and cooperationof the main financing bank is not ensured, although we have obtained theirunderstanding. We therefore recognize significant uncertainty about the going
concern assumption.

8

4. Quarterly Consolidated Financial Statements for the first three quarters
ended December 31, 2016
(1) Quarterly Consolidated Balance Sheets(In Millions of Yen)

As of March 31

As of Dec. 31

FY2015FY2016

Assets :Current Assets :Cash and deposits

3,038

5,215

Notes and accounts receivable-trade

6,693

6,194

962

816

Merchandise and finished goods
Work in process-construction

514

339

Raw materials and supplies

5,688

5,120

Other

727

936

Allowance for doubtful accounts

(693)

(612)

16,93018,010

Buildings and structures (net of depreciation)

1,909

1,770

Machinery, Equipment and Vehicles (net of depreciation)

1,323

1,266

Land

8,001

7,941

Other, net

1,183

1,344

Total Property, Plant and Equipment

12,417

12,322

Goodwill

289

205

Other

151

147

Intangible Fixed Assets, net

440

352

Investments and Other Assets :

1,458

1,486

Total Fixed Assets

14,317

14,161

31,24832,172

Total Current Assets
Fixed Assets:
Property, Plant and Equipment :Intangible Fixed Assets :Total Assets

9(In Millions of Yen)

As of March 31

As of Dec. 31

FY2015FY2016

Liabilities :Current Liabilities :Notes and accounts payable-trade

7,227

6,015

Short-term loans payable

10,11813,508

896

626

3,298

3,086

Accrued income taxes

244

248

Allowance for resource-recycling expenses

37

35

Current portion of long-term loans payable
Accounts payable

Other

2,820

2,811

Total Current Liabilities

24,642

26,332

1,077

606

170

163

Non-Current Liabilities :Long-term loans payable
Provision for directors’ retirement benefits
Provision for disposal site closing expenses
Liability Related to Retirement Benefits

499

529

1,371

1,360

856

626

3,976

3,286

28,61829,61814,041

14,0411

1Retained earnings(10,193)(10,141)

Treasury stock(1,481)(1,481)

Total Shareholders’ Equity

2,368

2,420

Valuation difference on available-for-sale securities

34

61

Foreign currency translation adjustment

46

1

Other
Total Non-Current Liabilities
Total Liabilities
Net Assets :Shareholders’ Equity :Capital stock
Capital surplus

Valuation and translation adjustments :Adjustment for Retirement Benefits (Cumulative)

148

37

Total Valuation and translation adjustments

229

100

31

33

Total Net Assets

2,629

2,553

Total Liabilities and Assets

31,24832,172

Non-controlling Interests

10(2) Quarterly Consolidated Statements of Income and Comprehensive Income(Quarterly Consolidated Statements of Income)(For the first three quarters of the fiscal year ending March 31, 2017)(In Millions of Yen)First three quarters
From April 1 to December 31
FY2016FY2015Net sales

45,912

36,633

Cost of sales

36,415

26,150Gross profit

9,497

10,482

Selling, general and administrative expenses

12,354

9,808

Operating income (loss)(2,857)

674

50

15

Non-operating income :Interest income
Dividends income

112Land and house rent revenue

51

47

Subsidy income

901

Foreign exchange gains

67

-

Other

81

72

Total non-operating expenses

352

139

Interest expenses

165

179

Commission fee

115

Non-operating expenses :Foreign exchange losses
Other

-

124

27

51

204

361

(2,709)452

Cost of earlier voluntary retirement

371

177

Impairment loss

147-

Total non-operating expenses
Ordinary income (loss)
Extra ordinary loss :

518

177

(3,228)275

Income taxes-current

259

219

Income taxes-deferred22

Total extra ordinary loss
Income (loss) before income taxes and minority interests

Total income taxes
Net Income
Net Income (loss) belonging to the non-controlling shareholders
Net income (loss) belonging to the shareholders of the parent
company262

221(3,490)53

2

2(3,492)51

11(Quarterly Consolidated Statements of Comprehensive Income)(For the first three quarters of the fiscal year ending March 31, 2017)(In Millions of Yen)First three quarters
From April 1 to December 31
FY2016FY2015
Income before minority interests
Other comprehensive income :Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment(3,490)

53

16

27

0

-

(72)

(44)

Retirement benefit adjustment

22

(111)

Total other comprehensive income

(33)

(128)

(3,523)(75)(3,526)

(77)

2

2

Comprehensive net income
Comprehensive income attributable toComprehensive income (loss) belonging to the shareholdersof the parent company
Comprehensive income (loss) belonging to non-controllingshareholders

12(3) Notes to the Quarterly Consolidated Financial Statements(Notes to Assumption of Going Concern)
The Group (the Company and its consolidated subsidiaries) recorded a significant
operating loss, ordinary loss, and net loss belonging to the shareholders of the parent
company both in the fiscal year ended March 31, 2015 and the fiscal year ended March
31, 2016. However, in the first three quarters under review, the Group recorded
operating income of ¥674 million, ordinary income of ¥452 million and net income
belonging to the shareholders of the parent company of ¥51 million. Nevertheless, theGroup is still in the course of achieving the medium-term business plan, and its
interest-bearing debt is ¥15,360 million, which is high compared with its liquidity on
hand. Accordingly, the Company recognizes that it is still susceptible to events andconditions that cast significant doubt on going concern assumptions.
To overcome the situation, the Company believes that, in light of the businessenvironment surrounding the solar electric power business, it is essential to further
strengthen the business foundation to achieve sustainable growth. The Company isthus focusing on the following measures as part of the medium-term business plan
(FY2016 - FY2018) announced on April 15, 2016.
ⅰ) A well-balanced allocation of management resources to business divisions
The Company is scaling down the SE Division to an appropriate size based on areasonable analysis of the external environment, rebuilding the HS Division and ESDivision, and further improving efficiency of the Environmental Resources
Development Division.
ⅱ) Strengthening the business base through thorough streamlining
The Company is disposing of assets in accordance with the downsizing of the SE
Division (the elimination and consolidation of stores, the scaling down of the
production of power conditioners, the downsizing of logistics and production
operations, and the closing of a logistics center).
The Company called for voluntary retirement (approximately 500 employees) to
reduce employee numbers to an appropriate level for its sales and, as a result, 391
employees took voluntary retirement, which was fewer than the number called for but
is more or less in line with the initial plan if natural attrition is taken into account. The
Company is also reducing the wages of all employees across the board.
ⅲ) Enhancement of the governance system
At the 38th Annual general Meeting of Shareholders held on June 29, 2016, theCompany increased the number of outside directors by one to a total of three. The
Company is also strengthening the management oversight functions of the Board of

13

Directors and changing the business execution system to clarify the responsibilities ofeach business division.

The Company expects that its profitability will improve through these initiatives andwill remain in the black. The medium-term business plan (FY2016 - FY2018) has beenformulated on the assumption of the continued support of the main financing bank. The
Company expects to continue to receive support and cooperation in financing and will
work to stabilize cash management.
However, we have not completed these initiatives, and the support and cooperationof the main financing bank is not ensured, although we have obtained theirunderstanding. We therefore recognize significant uncertainty about the going concern
assumption.
Quarterly consolidated financial statements were prepared based on the assumptionof a going concern, and did not reflect the impact of these serious doubts regarding ourability to continue as a going concern.

(Notes to Remarkable Changes in the amount of Shareholders’ Equity): None(Segment Information, etc.)
Ⅰ The previous first three quarters (From April 1, 2015 to December 31, 2015)ⅰ)Information concerning the Amount of Net Sales and Operating Income(loss) by Segment(In Millions of Yen)

Elimination
or Group(note 1)

Segments

Consolidated(note 2)

SE

HS

ES

ERD

Total

29,2905,047

675

10,89945,912-45,912

-

-

-

-

-

-

-

Total

29,2905,047

675

10,89945,912-45,912

Operating income (loss)(1,349)

547

32

191

(578)

(2,279)(2,857)

Sales:
Sales to customers
Internal sales among
segments and transfer
accounts(note 1)
Negative ¥2,279 million for adjustments of Operating income (loss) represents corporate expenses notallocated to reportable segments. Corporate expenses are mainly general and administrative expenses
note attributable to reportable segments.
(note 2)
Operating income (loss) is adjusted to operating loss of quarterly consolidated statements of income.

14ⅱ) Information on Impairment Losses on Fixed Assets and Goodwill by Segment(Significant impairment losses on fixed assets)
The Company is implementing management rationalization initiatives, including a
voluntary retirement program and the elimination and consolidation of stores, anddecided to close certain business premises and cancel lease contracts. The
Company determined that the book value of assets that it planned to dispose of
was not recoverable and posted impairment losses.
In the first three quarters under review, impairment losses of ¥97 million in the
Solar Engineering Division, ¥28 million in the Home Sanitation Division, and ¥20
million in corporate assets that are not allocated to any segments were posted.

Ⅱ The first three quarters (From April 1, 2016 to December 31, 2016)ⅰ) Information concerning the Amount of Net Sales and Operating Income(loss) by Segment(In Millions of Yen)

SE

HS

ES

ERD

Total

Elimination
or Group(note 1)

18,597

4,941

746

12,34836,633-36,633

-

-

-

-

-

-

-

Total

18,597

4,941

746

12,34836,633-36,633Operating income (loss)

1,247

767

55

678

2,747

(2,073)674

Segments

Consolidated(note 2)

Sales:
Sales to customers
Internal sales among
segments and transfer
accounts(note 1)
Negative ¥2,073 million for adjustments of Operating income (loss) represents corporate expenses notallocated to reportable segments. Corporate expenses are mainly general and administrative expenses
note attributable to reportable segments.
(note 2)
Operating income (loss) is adjusted to operating loss of quarterly consolidated statements of income.

15

5. Supplemental Information
Consolidated Net Sales by Division(In Millions of Yen)

From April 1 to December 31
FY2016FY2015

ChangesCommercial PV system

24,751

17,177(7,574)Wholesale of PV components

4,459

1,338

(3,121)OthersSolar Engineering Total

79

81

2

29,29018,597(10,693)

1,927

1,703

(224)

Under-Roof/Roof Ventilation System

691

669

(22)

Foundation Repairing/Home Reinforcement
System

300

437

136

2,127

2,130

3

5,047

4,941

(105)

Termite Eradication Service

OthersHome Sanitation Division Total
Anti-rust equipment installation

19

82

62

Repair of building water-woks

324

249

(75)

Water proofing of building

59

117

57

Others

271

297

25

Establishment Sanitation Division Total

675

746

70

Plastic fuelIndustrial waste (Organic Waste Water
Recycle)

5,440

5,403

(37)

2,750

4,489

1,738

Generation of electricity

1,252

1,345

93

607

534

(73)

847

576

(271)

Final disposal
OthersEnvironmental Resources Development
Division Total :10,89912,348

1,449

Total Net Sales

45,912

36,633(9,278)