Consolidated Financial Results for the Second Quarter Ended September 30, 2018
Asahi Holdings, Inc. [IFRS]October 25, 2018

Stock code:
Shares listed:

5857
Tokyo Stock Exchange (First Section)

URL:
Representative

https://www.asahiholdings.com
Tomoya Higashiura, Representative Director and President

For further information please contact:

Hisanobu Aoki, Corporate Planning & Communications
Department General Manager

Filing date of Quarterly Report:(Phone) +81-3-6270-1833
November 13, 2018

Start of dividend payment:
Supplementary materials for the financial results:

November 26, 2018
Yes

Investor conference for the financial results:

Yes (for institutional investors, analysts)(Rounded down to the nearest million yen)
1. Results of the six months ended September 30, 2018 (From April 1, 2018 to September 30, 2018)(1) Results of operations (cumulative)(Percentage: Changes relative to corresponding previous period)
OperatingincomeProfit before
tax

Profit%Millions of yen %Millions of yen %Millions of yen %60,380 5.0
57,489 11.2

6,864 7.5
6,383 12.1

Revenue
The six months ended
September 30, 2018
September 30, 2017

Millions of yen

6,486
6,220

4.3
13.1

4,541
4,321

5.1
7.1

Basic earnings per share

Diluted earnings per share

Yen
114.84131.39Yen−−

The six months ended
September 30, 2018
September 30, 2017

Profitattributable toowners of parent

Total
comprehensive
incomeMillions of yen %Millions of yen %

4,541
4,283

6.0
7.6

4,213 4.0
4,052 186.1(2) Financial Position

As of
September 30, 2018
March 31, 2018

Total assets

Total equity

Equity attributable toowners of parent

Equity attributable toowners of parent ratio

Millions of yen
132,825
131,484

Millions of yen
66,74564,435

Millions of yen
66,74564,435

50.3
49.0

%

2. Dividend payments
Dividends per share

Year ended March 31, 2018Year ending March 31, 2019Year ending March 31, 2019
(Forecast)First quarter

Second quarter

Third quarter

Year-end

Annual

Yen

Yen
30.00
60.00

Yen
−

Yen
33.00

Yen
63.00

−

60.00

120.00−−(Note) Revisions in dividend forecast in the current quarter: Yes
For details, please refer to “Notice on changes in the dividend policy, dividend of surplus, and revision of dividends
forecast (increase in dividends)” made public on October 25, 2018.

3. Forecast (From April 1, 2018 to March 31, 2019)(Percentage: Changes relative to corresponding previous period)
OperatingincomeRevenue
Millions of yen

Year ending March 31, 2019

120,000%

3.6

Millions of yen

14,000

Profit before
tax
%

1.5

Millions of yen

13,800%

Profit attributable
Basic earnings
toper shareowners of parent
Millions of yen
%
Yen

2.9

9,500

0.9

239.90(Note) Revisions in forecast in the current quarter: No* Notes(1) Changes in significant subsidiaries during the current quarter: No(2) Changes in accounting policies and accounting estimates(i) Changes in accounting policies required by IFRS: Yes(ii) Changes other than (i) above: No(iii) Changes in accounting estimates: No
For details, please refer to page 11 2. Condensed Consolidated Financial Statements (7) Notes on Condensed
Consolidated Financial Statements (3.Changes in accounting policies)”.
(3) Number of issued shares (common stock)(i)

Number of issued shares at the quarter end (including treasury shares)
As of September 30, 201839,854,344 shares

As of March 31, 201839,854,344 shares(ii) Number of treasury shares at the quarter end
As of September 30, 2018

505,437 shares

As of March 31, 2018

255,287 shares(iii) Averaged number of shares during the period (quarterly cumulative period)
Six months ended September 30, 2018

39,547,943 shares

Six months ended September 30, 201732,599,271 shares*The quarterly financial statements are not subject to quarterly reviews.
(Notes on forward looking statements, etc.)
These forecast performance figures are based on the information currently available to the company’s
management and certain assumptions judged rational. Accordingly, these might be cases in which actual resultsmaterially differ from forecasts of this report. Please refer to page 3 “1. Qualitative Information (3) Consolidated
Performance Forecasts” for the assumptions used and other notes.

【Appendix】

Table of contents of the appendix
1. Qualitative Information ................................................................................................................................

2(1) Consolidated Business Performance ........................................................................................................ 2(2) Consolidated Financial Position and Cash Flows for the six months ended September 30, 2018 ....... 2(3) Consolidated Performance Forecasts ....................................................................................................... 3
2. Condensed Consolidated Financial Statements...........................................................................................

4(1) Condensed Consolidated Statements of Financial Position ................................................................... 4(2) Condensed Consolidated Statements of Income for the six months ended September 30, 2018.......... 6(3) Condensed Consolidated Statements of Comprehensive Income for the six months ended
September 30, 2018................................................................................................................................... 7(4) Condensed Consolidated Statements of Changes in Equity ................................................................... 8(5) Condensed Consolidated Statements of Cash Flows .............................................................................. 10(6) Notes on Assumptions for Going Concern ............................................................................................... 11(7) Notes on Condensed Consolidated Financial Statements ...................................................................... 11
1. Reporting entity ................................................................................................................................... 11
2. Basis of preparation ............................................................................................................................ 11
3. Changes in accounting policies ........................................................................................................... 11
4. Significant accounting estimates and associated judgments ............................................................ 12
5. Segment information ........................................................................................................................... 13
6. Subsequent events ............................................................................................................................... 14−

1 −1. Qualitative Information(1) Consolidated Business Performance
In the Japanese economy during the second quarter of the current fiscal year (April 1, 2018 through September 30, 2018),
expansion continued on the back of improvements in corporate performance and employment situation. On the other hand, thefuture prospects remain opaque due in part to the intensifying trade conflict between the U.S. and China as well as majorindustrialized countries that has raised concerns over its negative impact on global economic expansion. Under these conditions,the group’s results in each business segment were as follows.
Precious metals business
Sales revenue from business in the precious metal recycling sector in Japan, South Korea and Malaysia expanded from thesame period in the previous year. Also, the sales revenue of precious metal refining business in North America improved overthe same period a year before. As a result of these accomplishments, sales revenue and operating income in this segment grewfrom the same period in the preceding year.
Environmental preservation business
While the volume of industrial waste discharged in Japan is on a downward trend, sales revenue in this segment increased
from the same period in the preceding year, thanks to efforts to develop new customers. However, operating income in thissegment was lower than in the previous year due in part to the impact of contraction of photosensitive material business that isin the stage of withdrawal.
Life & health business
The construction demand remained high primarily in the Tokyo metropolitan area, which led to a steady increase in sales
revenue from fire-fighting and air-conditioning equipment. However, sales revenue from health care equipment decreased fromthe same period in the previous year. Consequently, sales revenue and operating income in this segment were lower than in thesame period a year before.
As a result of the above, revenue during the second quarter of the current fiscal year was 60,380 million yen,a year-on-year increase of 2,890 million yen (+5.0percent). Operating income was 6,864 million yen, an increaseof 481 million yen (+7.5 percent) year-on-year. Profit before tax was 6,486 million yen, a year-on-year increaseof 265 million yen (+4.3 percent). Profit was 4,541 million yen, a year-on-year increase of 220 million yen (+5.1
percent). Profit attributable to owners of parent for the period was therefore 4,541 million yen, an increase of
258 million yen (+6.0 percent) year-on-year. By segment, revenue in the precious metal business was 42,445
million yen, a year-on-year increase of 4,997 million yen (+13.3 percent). Revenue in the environmental
preservation business was 7,986 million yen, and increase of 143 million yen (+1.8 percent) year-on-year.
Revenue in the life & health business was 9,976 million yen, and decrease of 2,265 million yen (-18.5 percent)year-on-year.

(2) Consolidated Financial Position and Cash Flows for the six months ended September 30, 2018
As of September 30, 2018, total assets amounted to 132,825 million yen, up 1,340 million yen from theprevious fiscal year end. This was due mainly to the increase of 2,500 million yen in trade and otherreceivables and the decrease of 1,185 million yen in inventories.
Total liabilities amounted to 66,079 million yen, down 969 million yen from the previous fiscal year end.
This was due mainly to the increase of 1,873 million yen in loans payable, the decrease of 1,180 million yen inother current liabilities and the decrease of 801 million yen in income tax payable.
Total equity amounted to 66,745 million yen, up 2,310 million yen from the previous fiscal year end. Thiswas due mainly to comprehensive income of 4,213 million yen.
As a result, the equity attributable to owners of parent ratio changed to 50.3%, from 49.0% at the end of theprevious fiscal year.
Net cash provided by operating activities amounted to 4,975 million yen due mainly to 6,486 million yen of
profit before tax, 1,163 million yen of depreciation and amortization, 1,203 million yen of decrease ininventories, 2,427 million yen of increase in trade and other receivables, 4,191 million yen of income taxes
paid.
Net cash used in investing activities amounted to 1,064 million yen due mainly to 1,176 million yen ofpurchase of property, plant and equipment.
−

2 −Net cash used in financial activities amounted to 2,073 million yen due mainly to 1,306 million yen of cash
dividends paid.
As a result, cash and cash equivalents as of September 30, 2018 increase 1,996 million yen from March 31,
2018, to 26,136 million yen.

(3) Consolidated Performance Forecasts
The Company has positioned the enhancement of shareholder returns as one of its top priority issues. To
further expand its profit distribution to its shareholders, the Company decided to raise the target level ofdividend payout ratio.
Regarding dividends that are paid out basically twice each fiscal year as an interim dividend and a year-end
dividend, the Company will seek a consolidated dividend payout ratio of “50% and above,” instead of “30% andabove” in the past.
Consequently, projections on year-end dividend for the year ending March 2019 are revised as shown below.
For details, please refer to " Notice on changes in the dividend policy, dividend of surplus, and revision ofdividends forecast (increase in dividends)" made public on October 25, 2018.

Dividends forecast for the year ending on March 31, 2019

Annual dividends
End of the fiscal year

End of the second quarter

Total

Previous Forecast(Released on May 8, 2018 )37.00 yen

37.00 yen

74.00 yen

Recently revised Forecast−

60.00 yen

120.00 yen

Results for the current year

60.00 yen−−

Results of the previous year
(Year ended March 2018)

30.00 yen

33.00 yen

63.00 yen−

3 −

2. Condensed Consolidated Financial Statements(1) Condensed Consolidated Statements of Financial Position
As ofMarch 31,
2018

As of
September 30,
2018

Millions ofyenMillions ofyen

ASSETS
Current assets
Cash and cash equivalents

24,14026,136

Trade and other receivables
Inventories

36,973
22,46639,473
21,281

Income tax receivables
Other financial assets

1,474
660

297
0

Other current assets

2,380

1,997

Total current assets

88,09689,18732,87032,900

8,243
740

8,243
651

Deferred tax assets
Net defined benefit asset

853
124

1,109
202

Financial assets
Other non-current assets

537
18

487
41

Total non-current assets

43,38843,638131,484

132,825

Non-current assets
Property, plant and equipment
Goodwill
Intangible assets

Total assets−

4 −As ofMarch 31,
2018

As of
September 30,
2018

Millions ofyenMillions ofyen

LIABILITIES and EQUITY
Liabilities
Current liabilities
Trade and other payables

14,17914,118Loans payable
Income tax payable

22,515
3,012

23,651
2,210

Other financial liabilities
Provision

506
1,484

846
1,034

Other current liabilities

3,400

2,220

Total current liabilities
Non-current liabilities

45,09944,082Loans payable
Deferred tax liabilities

18,6001,440

19,338
1,477

Net defined benefit liability
Other financial liabilities

153
1,754

158
1,023

Total non-current liabilities

21,94921,997

Total liabilities
Equity67,04966,079

Capital stock
Capital surplus

7,790
10,381

7,790
10,353

Treasury stock
Retained earnings(386)
50,282(955)
53,570

Other components of equity(3,632)(4,013)

Total equity attributable to owners of parent

64,43566,745

Total equity

64,43566,745

131,484

132,825

Total liabilities and equity−

5 −(2) Condensed Consolidated Statements of Income for the six months ended September 30, 2018
The six months
ended September 30,
2017

The six months
ended September 30,
2018

Millions of yen

Millions of yen

Revenue
Cost of sales

57,489(44,117)60,380(46,600)

Gross profit
Selling, general and administrative expenses

13,372(7,142)

13,779(6,909)

184
(30)

146
(152)

Operating income

6,383

6,864

Finance income
Finance cost

47
(210)

35
(413)

Profit before tax
Income tax expenses

6,220(1,899)6,486(1,944)

Profit

4,321

4,541

Profit attributable to:
Owners of parent

4,283
37

4,541
−

4,321

4,541

131.39114.84

Other operating income
Other operating expenses

Non-controlling interests
ProfitEarnings per share
Basic earnings per share (Yen)−6 −(3) Condensed Consolidated Statements of Comprehensive Income for the six months ended
September 30, 2018

ProfitThe six months
ended September 30,
2017

The six months
ended September 30,
2018

Millions of yen

Millions of yen

4,321

4,541

16

(3)

32

48

48

44

(777)

(648)

Other comprehensive income
Items that will not be reclassified to profit or loss
Financial assets measured at fair value through othercomprehensive income
Remeasurements of defined benefit plans
Total items that will not be reclassified to profit or loss
Items that will be reclassified to profit or loss
Cash flow hedges
Translation adjustments of foreign operations

459

275

Total items that will be reclassified to profit or loss

(317)

(372)

Other comprehensive income, net of tax

(269)

(327)

4,052

4,213

Owners of parent
Non-controlling interests

4,011
40

4,213
−

Comprehensive income

4,052

4,213

Comprehensive income
Comprehensive income attributable to:−7 −(4) Condensed Consolidated Statements of Changes in Equity(Millions of yen)
Equity attributable to owners of parent

Capitalstock

Balance at April 1, 2017
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock
Dividends
Changes in ownershipinterests in subsidiaries
that do not result in loss ofcontrol
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at September 30,
2017

CapitalsurplusTreasurystock

Retainedearnings

Other components ofequityTranslation
adjustments Cash flowof foreign
hedgesoperations

4,480
−

6,126
−

(5,371)−42,783
4,283(3,618)
−

(104)
−

−

−

−

−

459

(777)

−

−

−

4,283

459

(777)

−
−

−
−

(0)
−

−
(977)

−
−

−
−

−

(337)

−

−

−

−

−

−

−

32

−

−

−

21

−

−

−

−

−

(315)

(0)

(945)

−

−

4,480

5,810

(5,372)

46,120(3,159)(882)(Millions of yen)
Equity attributable to owners of parent
Other components of equity
FinancialassetsRemeasuremeasured atments offair value
definedthrough
benefitotherplanscomprehensive income
Balance at April 1, 2017
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock
Dividends
Changes in ownershipinterests in subsidiaries
that do not result in loss ofcontrol
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at September 30,
2017

Total

Total

Noncontrollinginterests

Total equity

7
−

−
−

(3,716)−44,303
4,283

524
37

44,827
4,321

14

32

(271)

(271)

2

(269)

14

32

(271)

4,011

40

4,052

−
−

−
−

−
−

(0)
(977)

−
−

(0)
(977)

3

−

3

(333)

(540)

(874)

−

(32)

(32)

−

−

−

−

−

−

21

−

21

3

(32)

(28)

(1,290)(540)(1,831)24−(4,016)47,02324

47,048−8 −(Millions of yen)
Equity attributable to owners of parent

Capitalstock

CapitalsurplusTreasurystock

Retainedearnings

Other components ofequityTranslation
adjustments Cash flowof foreign
hedgesoperations

Balance at April 1, 2018
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock

7,790
−

10,381−(386)−

50,282
4,541(3,624)
−

(34)
−

−

−

−

−

275

(648)

−

−

−

4,541

275

(648)

−

−

(744)

−

−

−

Disposal of treasury stock
Dividends
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at September 30,
2018

−
−

24
−

70
−

−
(1,306)

−
−

−
−

−

−

−

53

−

−

−

(52)

104

−

−

−

−

(27)

(568)

(1,253)

−

−

7,790

10,353(955)

53,570(3,348)(683)(Millions of yen)
Equity attributable to owners of parent
Other components of equity
FinancialassetsRemeasuremeasured atments offair value
definedthrough
benefitotherplanscomprehensive income
Balance at April 1, 2018
ProfitOther comprehensive
incomeTotal comprehensive
incomePurchase of treasury stock
Disposal of treasury stock
Dividends
Reclassified from othercomponents of equity toretained earnings
Share-based paymenttransactions
Total transactions withownersBalance at September 30,
2018

Total

Total

Total equity

27
−

−
−

(3,632)−64,4354,541

64,435
4,541

(3)

48

(327)

(327)

(327)

(3)

48

(327)

4,213

4,213

−
−
−

−
−
−

−
−
−

(744)
95
(1,306)(744)
95(1,306)

(4)

(48)

(53)

−

−

−

−

−

52

52

(4)

(48)

(53)

(1,903)(1,903)18−(4,013)66,74566,745−9 −(5) Condensed Consolidated Statements of Cash FlowsThe six
months ended
September 30,
2017

The six
months ended
September 30,
2018

Millions of yen

Millions of yen

Net cash provided by (used in) operating activities
Profit before tax
Depreciation and amortization

6,220
1,117
−

Impairment loss
Finance income and finance cost

6,486
1,163

186

15
368

Decrease (increase) in inventories
Decrease (increase) in trade and other receivables(4,148)(1,827)1,203(2,427)

Increase (decrease) in trade and other payables
Other, net

2,149
1,838

(218)
1,607

Subtotal

5,536

8,199

Interest and dividends income received
Interest expenses paid

12
(220)

22
(419)

(1,912)951(4,191)
1,364

4,366

4,975

Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment(1,592)158(1,176)196

Purchase of intangible assets
Proceeds from sales and redemption of investments

(149)
−

(83)
12

9

(14)

Net cash provided by (used in) investing activities(1,573)(1,064)

Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable

(200)

39

(135)
−

(135)
95

(0)

(744)

(874)

−

(977)

(1,306)

Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities

Other, net

Repayment of long-term loans payable
Proceeds from sales of treasury stock
Purchase of treasury stock
Payment to acquire interests in subsidiaries from noncontrolling interests
Cash dividends paid
Other, net

(6)

(21)

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents(2,194)(109)(2,073)
158

Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period

489
10,798

1,996
24,140Cash and cash equivalents at end of period

11,287

26,136−10 −(6) Notes on Assumptions for Going Concern
Not applicable(7) Notes on Condensed Consolidated Financial Statements
1. Reporting entity
Asahi Holdings, Inc. (hereinafter the “Company”) is a company located in Japan. The Company’s condensed
consolidated financial statements for the six months ended September 30, 2018 comprise the financial
statements of the Company as well as its subsidiaries (hereinafter the “Group”).
For the main activities of the Group, please refer to Note 5. “Segment information.”

2. Basis of preparation(1) Statement of compliance with IFRSThe condensed consolidated financial statements of the Group have been prepared based on IAS 34“Interim Financial Reporting.”
Having met the requirements for a Specified Company under the Designated International AccountingStandards, as prescribed in Article 1-2 of the Ordinance on the Terminology, Forms, and Preparation
Methods of Quarterly Consolidated Financial Statements (Cabinet Office Ordinance No. 64 of 2007), theGroup adopts the provisions of Article 93 of the aforementioned rules.
(2) Basis of measurement
The condensed consolidated financial statements of the Group have been prepared based on costs ofacquisition, except for the specified financial instruments that have been measured at fair value.
(3) Functional currency and presentation currency
The condensed consolidated financial statements of the Group are presented in Japanese yen, which isthe functional currency of the Company, and figures less than one million yen are rounded down to thenearest million yen.

3. Changes in accounting policies
The significant accounting policies adopted for the condensed consolidated financial statements are thesame as those for the consolidated financial statements for the fiscal year ended March 31, 2018, with the
exception of the items described below.
The income tax for the six months ended September 30, 2018 was calculated based on the estimated averageannual effective tax rate.
(Adoption of IFRS 15 “Revenue from Contracts with Customers”)
The Group has adopted IFRS 15 “Revenue from Contracts with Customers”(published in May 2014) and“Clarifications to IFRS 15” (published in April 2016)(hereinafter, collectively referred to as ”IFRS 15”) fromthe first quarter ended June 30, 2018. When applying IFRS 15, as a transition measure the Group applies
this standard retrospectively with the cumulative effects of initially applying this standard recognized at thedate of initial application.
In accordance with IFRS 15, except for interests and dividend income stipulated by IFRS 9 “ Financial
instruments”, revenue is recognizes based on the following five-step model.
Step 1: Identify the contract with a customer
Step 2: Identify the performance obligations in the contract
Step 3: Determine the transaction price
Step 4: Allocate the transaction price to the performance obligations in the contract
Step 5: Recognize revenue when the entity satisfies a performance obligation
Our group is engaged in the sales of precious metals, massage chairs, electrolytic hydrogen water generator,
hearing aids, heating equipment and other items. Regarding these products, revenue is recognized when the
goods are transferred to the customer, a point at which the customer has control of the goods and performanceobligation is deemed to have been satisfied. As for revenue pertaining to intermediate treatment or otherprocessing of industrial wastes, revenue is recognized when the treatment of the said industrial waste iscompleted, a point at which the customer has control and performance obligation is deemed to have been−

11 −

satisfied.
Regarding revenues pertaining to the design, construction and other works on fire-fighting, air conditioning
and sanitary equipment, revenue is recognized in accordance with the progress of performance obligation.
Progress is measured according to input method based on the costs incurred and other means.
Also, revenue is measured at a value derived by deducting discounts, rebates, returns, etc. from theconsideration undertaken in the contract with the customer.
The application of IFRS 15 does not have a significant impact on the performance or financial conditions ofour group.

4. Significant accounting estimates and associated judgments
In preparing condensed consolidated financial statements, the management is required to make judgment,
estimates and assumptions that affect the adoption of accounting policies and the amounts of assets, liabilities,
revenues and expenses. Actual results may differ from such estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. The effect of a change inaccounting estimates is recognized as the accounting period in which such change occurs as well as theaccounting periods to be affected in the future.
The estimates and judgments made by the management that may have material impacts on the figures in
the condensed consolidated financial statements are the same as those for the consolidated financial
statements for the fiscal year ended March 31, 2018.

−

12 −

5. Segment information(1) Overview of reporting segments
The Group’s reporting segments are those Group constituent units for which separate financial
information is obtainable, and which the Board of Directors subjects to regular examination in order todecide the allocation of management resources and evaluate business results.
As a pure holding company, the Company is in charge of overall strategic function for the Group, whereas
operating companies of the Group engage in the precious and rare metals recycling business and therefining and processing business, industrial waste management and other environmental preservation
business, and life & health business including manufacturing and selling of health equipment.
Therefore, the Group is composed of product and service segments based on business sectors. The threereporting segments are the precious metal business, the environmental preservation business, and the life
& health business. Meanwhile, these reporting segments are not be aggregated.
The precious metals business engages mainly in recycling and selling of precious and rare metals suchas gold, silver, palladium, and platinum, as well as refining and processing of precious metals such as goldand silver. The main work of environmental preservation business is the collection, transport andintermediate processing of industrial waste. In the life & health business, the main work is the manufactureand sales of massagers, hearing aids, and other health equipment, the manufacture and sales of electricheaters, the design and installation of radiant heating and air conditioning systems, and the design andinstallation of disaster prevention equipment.
(2) Segment revenue and performance
Accounting policies of the reporting segments are the same as those of the Group stated in “Note 3.
Changes in accounting policies.”
Revenue and other performance of each reportable segment of the Group are as follows.
For the six months ended September 30, 2017 (from April 1, 2017 to September 30, 2017)(Millions of yen)
Reporting segment
Environmental
preservation
business

Life & healthbusiness

37,448−

7,799

12,242

43

0

Total

37,448

7,843

Operating income by businesssegment

5,143

1,669

Precious metals
business

Revenue
External revenue
Intersegment revenue

Total

Adjustment

Consolidated

57,489

−

43

(43)

57,489−12,24257,533(43)

57,489733

7,546(1,162)

6,383

Finance income

47

Finance costs(210)

Profit before tax

6,220(Note) 1. Intersegment transactions are based on prevailing market prices.
2. Adjustments of operating income by business segment are mainly corporate expenses that are notallocated to each reporting segment.

−

13 −

For the six months ended September 30, 2018 (from April 1, 2018 to September 30, 2018)(Millions of yen)
Reporting segment
Precious metals
business

Environmental
preservation
business

Life & healthbusiness

42,445
−

7,959
27

9,976
0

60,38027

42,445

7,986

9,976

6,495

1,441

254

Total

Adjustment

Consolidated−(27)

60,380−60,408(27)

60,3808,191(1,327)

6,864

Revenue
External revenue
Intersegment revenue
Total
Operating income by businesssegment
Finance income
Finance costs

35
(413)

Profit before tax

6,486(Note) 1. Intersegment transactions are based on prevailing market prices.
2. Adjustments of operating income by business segment are mainly corporate expenses that are notallocated to each reporting segment.

6. Subsequent events
Not applicable−

14 −