Outline of Consolidated Financial Results of Taiheiyo Cement Corporation
for the Second Quarter of Fiscal 2016 ended March 31, 2016
November 10, 2015
Company:
Stock code:
URL:

Taiheiyo Cement Corporation5233
http://www.taiheiyo-cement.co.jp/

Fiscal 2015 2Q:
Fiscal 2015:
Fiscal 2016 2Q:
Fiscal 2016:

April 1, 2014- September 30,2014
April 1, 2014- March 31, 2015
April 1, 2015- September 30, 2015
April 1, 2015- March 31, 2016

The accompanying consolidated financial results are not intended to present the financial results in accordancewith accounting principles and practices generally accepted in countries and jurisdictions other than Japan.
(All yen figures are rounded down to the nearest one million yen.)

1. Consolidated Financial Results for the Second Quarter of Fiscal 2016(April 1, 2015 through September 30, 2015)(1) Operating Results
Net Sales
2Q FY3/16
2Q FY3/15

Operating income

Millions of Yen
415,152
404,297%
2.7
1.5

Millions of Yen
25,25527,770*comprehensive income : Fiscal 2016 2Q 17,579

EPS%
△ 9.1

1.2

Millions of Yen
26,39628,440Fiscal 2015 2Q 21,956

Diluted EPS
Yen––Yen
12.86
14.78

2Q FY3/16
2Q FY3/15

Profit attributable toowners of parent% Millions of Yen%
△ 7.2
△ 13.015,80211.0
18,155
78.4

Ordinary income(2) Financial Position
Total assets
Millions of Yen
1,076,698
1,040,602

2Q FY3/16
FY3/15*Equity : Fiscal 2016 2Q 316,274

Total net assets
Millions of Yen
361,088
347,490

Equity ratio%
29.4
29.1

Fiscal 2015 302,645

2. Dividends
1Q
FY3/15
FY3/16
FY3/16(forecast)

Dividend per share
3Q
4Q

2Q

TotalYen

Yen

Yen

Yen

Yen——

2.00
3.00

—

3.00

5.00—3.00

6.00

3. Consolidated Results Forecast for the Fiscal 2016(April 1, 2015 through March 31, 2016)
Net sales
Millions of Yen

FY3/16

866,000%
2.7

Operating income

Ordinary income

Millions of Yen

Millions of Yen%

65,000△ 4.3

66,000%0.9

Profit attributable toowners of parent
Millions of Yen%
△16.1
37,000EPSYen30.11

This forecast is based on the information available at the date of publication of this material and assumptions at the same datewith respect to the various factors which might have impact on the future financial results. Actual results may differ
materially from this forecast due to various factors.

Page 1 of 7

Consolidated Balance Sheets
All yen figures are rounded down to the nearest one million yen.

(Millions of Yen)

Item
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
A. Property, plant and equipment
Buildings and structures, net
Machinery, equipment, and vehicles, netLand
Other, net
Total property, plant and equipment
B. Intangible assets
Goodwill
Other
Total intangible assets
C. Investments and other assets
Investment securities
Asset for retirement benefits
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

FY3/15(As of 3/31/15)

2Q FY3/16(As of 9/30/15)

53,859178,350
28,5872,183
43,252
26,079(2,329)329,981

105,720
164,201
29,9692,717
42,76824,418(2,303)
367,490

144,291
120,804
164,647
60,821
490,565

141,313
115,860
163,224
65,966486,365

9,297
32,53841,836

7,95531,541
39,496

113,747
20,33850,095(5,961)
178,219
710,6211,040,602

116,935
21,016
51,961(6,566)
183,345709,208
1,076,698

Page 2 of 7

All yen figures are rounded down to the nearest one million yen.

(Millions of Yen)
Item
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Commercial papers
Current portion of bonds
Income taxes payable
Provision for bonuses
Other provision
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Liability for retirement benefits
Provision for directors’ retirement benefits
Provision for loss on business of subsidiaries
and affiliates
Provision for special repairs
Provision for asset removal
Asset retirement obligations
OtherTotal noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Retirement benefits liability adjustments
Total accumulated other comprehensive
incomeNon-controlling interests
Total net assets
Total liabilities and net assets

FY3/15(As of 3/31/15)

2Q FY3/16(As of 9/30/15)

85,036
178,816
5,000
20,38010,7305,642
1,060
71,149377,81777,174
218,852
17,000
570
9,698
5,758
432
68,298397,784

46,710148,232
26,889514

46,300152,145
26,041
423

138

138

312
41
7,673
84,783315,295
693,112331
7,771
84,674
317,826
715,610

86,17450,757
158,939(934)
294,937

86,17450,807
171,535(962)
307,555

6,908

6,896

2
4,295
649
(4,148)

(1)
4,295
1,314
(3,785)

7,707

8,719

44,84544,813

347,490361,088

1,040,602

1,076,698

Page 3 of 7

Consolidated Statements of Income
All yen figures are rounded down to the nearest one million yen.

(Millions of Yen)

Net sales

404,297

2Q FY3/16(4/1/159/30/15)
415,152

Cost of sales

310,863

322,927

Gross profit

93,43392,225

Selling, general and administrative expenses

65,662

66,970Operating income

27,77025,255Interest income

245281Dividends income

396

480

3,933

3,680

1,991

2,596

6,567

7,038

Interest expenses

3,533

3,020

Other

2,363

2,877

5,897

5,897

28,44026,396

Gain on disposal of property, plant, and equipment

720370Gain on sales of investment securities

68640

Gain on step acquisitions

916-

Gain on forgiveness of debts

4,425

-

Other
Total extraordinary income

509

76

6,641

1,087
1,031

Business structure reform expenses

1,199
1,360

Other
Total extraordinary losses

456

403

3,015

1,434

Income before income taxes and non-controlling interests32,066

26,048

Income taxes-current

8,972

9,449

ProfitProfit attributable to non-controlling interests

23,094
4,938

16,598796

Profit attributable to owners of parent

18,15515,802Item

2Q FY3/15(4/1/149/30/14)

Non-operating income

Equity in earnings of unconsolidated subsidiaries
and affiliates
Other
Total non-operating income
Non-operating expenses

Total non-operating expenses
Ordinary income
Extraordinary income

Extraordinary loss
Loss on disposal of property, plant, and equipment-Page 4 of 7

Consolidated Statements of Comprehensive Income
All yen figures are rounded down to the nearest one million yen.

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Retirement benefits liability adjustments
Share of other comprehensive income of associates accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to :Owners of parent
Non-controlling interests(Millions of Yen)
2Q FY3/15
2Q FY3/16(4/1/14(4/1/159/30/14)
9/30/15)
23,094
16,598
1,742(18)(3,635)
731

(14)
(0)
864
364

41(233)(1,138)21,956980
17,57917,762
4,193

16,814765

Page 5 of 7

Consolidated Statements of Cash FlowsAll yen figures are rounded down to the nearest one million yen.

2Q FY3/15(4/1/149/30/14)
Cash flows from operating activities
Income before income taxes and non-controlling interests
Depreciation and amortization
Amortization of goodwill
Equity in (earnings)losses of unconsolidated
subsidiaries and affiliates
Loss(gain) on valuation of investment securities
Changes in asset and liability for retirement benefits
Increase(decrease) in provision for directors' retirement
benefits
Increase(decrease) in provision for bonuses
Increase(decrease) in allowance for doubtful accounts
Increase(decrease) in provision for removal of assets
Increase(decrease) in other provisionInterest and dividends income
Interest expenses
Loss(gain)on sales of investment securities
Loss(gain)on disposal of property, plant, and equipment
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable-trade
Business structure reform expenses
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Cash flows from operating activities
Cash flows from investing activities
Decrease(Increase) in time deposits
Purchase of property, plant, and equipment
Proceeds from sales of property, plant, and equipment
Purchase of investment securities
Proceeds from sales of investment securities
Purchases of investments in subsidiaries resulting inchange in scope of consolidation
Proceeds from sales of investments in subsidiaries
resulting in change in scope of consolidation
Payments of loans receivableCollections of loans receivable
Other, net
Cash flows from investing activities(Millions of Yen)
2Q FY3/16(4/1/159/30/15)

32,066
19,986
1,186

26,04821,4401,467(3,933)(3,680)5(682)

98(474)

(37)

(90)

196
532
(2)
(1,208)
(642)
3,533
(65)
478
2,299
(4,522)(5,208)

321
570
(41)
(716)
(762)
3,020
(621)
661
11,160(3,081)(7,183)

1,360-(1,055)44,215969(3,726)(18,037)
23,421(3,354)44,783
1,128(3,180)(10,957)
31,773

528(21,230)
2,100(765)119

331(19,004)
2,501(25)
171(516)--

6,751(938)2,153
320(18,230)

(804)
2,426
431
(7,220)Page 6 of 7

Cash flows from financing activities
Increase (decrease) in short-term loans payable

1,460

44,952

Increase (decrease) in commercial papers
Proceeds from long-term loans payable
Repayment of long-term loans payable
Redemption of bonds
Proceeds from issuance of bonds
Purchase of treasury stock
Proceeds from sales of treasury stock
Cash dividend paid

Cash dividends paid to minority shareholdersOther, net
Cash flows from 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
Increase(decrease) in cash and cash equivalents due to changes
in scope of consolidation
Increase in cash and cash equivalents resulting from merger ofsubsidiaries-

12,00024,084(45,204)(390)
20,000(29)
0(3,685)(222)(2,428)(6,414)(866)(2,089)55,604

31,678(33,763)(20,220)(25)
0(3,685)(716)(2,673)27,547(28)
52,07250,645

354

9273

138

-(105)

53,942

102,844

Decrease in cash and cash equivalents from corporate division
Cash and cash equivalents at end of the period

Consolidated Segment Information
All yen figures are rounded down to the nearest one million yen.

(Millions of Yen)

CementBusiness
Net sales
Sales to outside
customers
Inter-segment
sales
Total
Segment
income(loss)

Inter-segment
sales
Total
Segment
income(loss)

Total

Adjustment Consolidated
Total

267,675

36,002

34,56038,230376,468

27,828404,297－404,297

5,214

11,3892,535

1,99821,138

12,23933,377(33,377)－

272,889

47,39137,09540,229397,607

40,067437,674(33,377)404,297

17,709

2,612

3,500

1,205

25,0282,757

27,786(15)

27,770CementBusiness
Net sales
Sales to outside
customers

2Q FY3/15 (4/1/14 – 9/30/14)
Reportable Segments
MineralConstruction
Environmental
Other
Resources
Materials
Total
Business
Business
Business

2Q FY3/16 (4/1/15 – 9/30/15)
Reportable Segments
MineralConstruction
Environmental
Other
Resources
Materials
Business
Total
Business
Business

Total

Adjustment Consolidated
Total

287,371

33,79333,043

36,244

390,453

24,699415,152－

415,152

4,719

11,649

2,678

2,928

21,976

11,85533,831(33,831)－

292,091

45,44235,721

39,173

412,429

36,555448,984(33,831)

415,152

15,004

3,129

3,558

1,983

23,676

1,569

25,246

8

25,255

Page 7 of 7