Consolidated Financial Results
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Fiscal 2015 Financial Results (Japanese GAAP) (Unaudited) Fiscal 2015 (Year ended March 31, 2015) All financial information has been prepared in accordance with accounting principles generally accepted in Japan. “JR East” refers to East Japan Railway Company on a consolidated basis, or if the context so requires, on a non-consolidated basis. English translation from the original Japanese-language document. April 28, 2015 East Japan Railway Company Stock Exchange Listings Tokyo and Nagoya Securities Code 9020 URL http://www.jreast.co.jp/e Representative Tetsuro Tomita, President and CEO Contact Person Akira Yakushi, General Manager, Public Relations Department (Tel. +81-3-5334-1300) Scheduled Date of Ordinary General Meeting of Shareholders June 23, 2015 Scheduled Date of Dividend Payment Commencement June 24, 2015 Scheduled Date for Release of Annual Securities Report June 23, 2015 Preparation of Supplementary Explanations of Financial Results: No Financial Results Presentation to Be Held: Yes 1. Consolidated Results for Fiscal 2015 (Year Ended March 31, 2015) (Amounts less than one million yen, except for per share amounts, are omitted.) (1) Consolidated financial results (Percentages represent percentage changes as compared with the previous fiscal year.) Operating revenues Operating income Ordinary income Net income Millions of yen % Millions of yen % Millions of yen % Millions of yen % Fiscal 2015 2,756,165 2.0 427,521 5.1 361,977 8.9 180,397 (9.8) Fiscal 2014 2,702,916 1.2 406,793 2.3 332,518 4.7 199,939 14.0 Note: Comprehensive income – Fiscal 2015: 229,292 million yen (an increase of 6.8%), Fiscal 2014: 214,632 million yen (an increase of 8.5%) Earnings Earnings Ratio of ordinary Ratio of operating Return on per share- per share- income to income to average equity Basic Diluted average assets operating revenues Yen Yen % % % Fiscal 2015 458.95 — 8.1 4.8 15.5 Fiscal 2014 506.77 — 9.5 4.5 15.1 Reference: Equity in net income (losses) of affiliated companies – Fiscal 2015: 3,134 million yen, Fiscal 2014: 1,211 million yen (2) Consolidated financial position Shareholders’ equity Total assets Net assets Equity ratio per share Millions of yen Millions of yen % Yen Fiscal 2015 7,605,690 2,304,976 30.1 5,818.19 Fiscal 2014 7,428,303 2,199,357 29.4 5,529.40 Reference: Shareholders’ equity – Fiscal 2015: 2,285,658 million yen, Fiscal 2014: 2,180,632 million yen (3) Consolidated cash flows Net cash provided by Net cash used in Net cash used in Cash and cash equivalents operating activities investing activities financing activities at end of year Millions of yen Millions of yen Millions of yen Millions of yen Fiscal 2015 622,762 (476,844) (86,636) 245,170 Fiscal 2014 562,763 (474,697) (91,367) 186,057 1 2. Dividends (Year Ended March 31, 2014 and 2015 and Year Ending March 31, 2016) Dividends per share Ratio of Total Dividend dividends to 1st quarter 2nd quarter 3rd quarter Total dividends ratio shareholders’ (Record date) Year end end end end annual (annual) (consolidated) equity (consolidated) Yen Yen Yen Yen Yen Millions of yen % % Fiscal 2014 - 60.00 - 60.00 120.00 47,361 23.7 2.3 Fiscal 2015 - 60.00 - 60.00 120.00 47,181 26.1 2.1 (Forecast) Fiscal 2016 - 65.00 - 65.00 130.00 - 21.5 - 3. Forecasts for Fiscal 2016 (Year Ending March 31, 2016) (Percentages represent percentage changes as compared with the previous corresponding fiscal period or fiscal year, as applicable.) Earnings Profit attributable to Operating revenues Operating income Ordinary income per share- owners of parent Basic Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Six-month period ending 1,387,000 2.3 267,000 3.5 232,000 5.0 151,000 11.0 384.37 September 30, 2015 Fiscal 2016 2,800,000 1.6 445,000 4.1 382,000 5.5 238,000 31.9 605.83 ※ Notes (1) Changes to principal subsidiaries during the period (status changes of specified subsidiaries due to changes in the scope of consolidation): No Newly consolidated - excluded - (2) Changes in accounting policies, changes in accounting estimates, and restatement of revisions i Changes in accounting policies with revision of accounting standards : Yes ii Changes in accounting policies other than the above : Yes iii Changes in accounting estimates : No iv Restatement of revisions : No (Note) For details, refer to (5) Notes to Consolidated Financial Statements (Unaudited) (Changes in Accounting Policies, Changes in Accounting Estimates and Restatement of Revisions (Unaudited)) on page 25. (3) Number of issued shares (common stock) i Issued shares at period-end (including treasury stock) Fiscal 2015 393,500,000 shares Fiscal 2014 395,000,000 shares ii Treasury stock at period-end Fiscal 2015 652,972 shares Fiscal 2014 629,294 shares iii Average number of shares Fiscal 2015 393,066,943 shares Fiscal 2014 394,533,865 shares during period 2 (Reference) Overview of the Non-consolidated Financial Results 1. Non-consolidated Results for Fiscal 2015 (Year Ended March 31, 2015) (Amounts less than one million yen, except for per share amounts, are omitted.) (1) Non-consolidated financial results (Percentages represent percentage changes as compared with the previous fiscal year.) Operating revenues Operating income Ordinary income Net income Millions of yen % Millions of yen % Millions of yen % Millions of yen % Fiscal 2015 1,966,042 1.7 352,677 7.6 301,571 14.3 157,126 (7.5) Fiscal 2014 1,932,599 1.1 327,877 1.5 263,907 08.6 169,878 22.4 Earnings Earnings per share- per share- Basic Diluted Yen Yen Fiscal 2015 399.42 — Fiscal 2014 430.24 — (2) Non-consolidated financial position Shareholders’ equity Total assets Net assets Equity ratio per share Millions of yen Millions of yen % Yen Fiscal 2015 7,100,479 1,903,633 26.8 4,841.64 Fiscal 2014 6,913,416 1,850,266 26.8 4,688.00 Reference: Shareholders’ equity – Fiscal 2015: 1,903,633 million yen, Fiscal 2014: 1,850,266 million yen 2. Forecasts for Fiscal 2016 (Year Ending March 31, 2016) (Percentages represent percentage changes as compared with the previous corresponding fiscal period or fiscal year, as applicable.) Earnings Operating revenues Operating income Ordinary income Net income per share- Basic Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Six-month period ending 1,017,000 3.3 242,000 7.0 214,000 4.4 145,000 08.8 368.79 September 30, 2015 Fiscal 2016 2,016,000 2.5 375,000 6.3 319,000 5.8 207,000 31.7 526.48 Applicability of audit requirements and completion of audit procedure These financial results are not subject to audit requirements as provided in the Financial Instruments and Exchange Law. The audit procedures of financial statements as provided in the Financial Instruments and Exchange Law have yet to be completed as of the issue date of this report on financial results for the year ended March 31, 2015. Explanation of appropriate use of forecasts of business results; other important items The forecasts of business results and other forward-looking statements in this report are based on information available as of the date of this report and on certain assumptions that JR East viewed as reasonable as of the date of this report. Actual results may differ from such forward-looking statements for a variety of reasons. Regarding the forecasts of business results, please refer to “Outlook for the Year Ending March 31, 2016” on page 8 of this document. JR East is scheduled to hold an analysts’ meeting on April 30, 2015, to present its operating results for Fiscal 2015. JR East plans to upload the presentation materials distributed at such meeting to its website as soon as the meeting is over. 3 Contents of Attachments 1. Operating Results and Financial Position .......................................................... 5 (1) Analysis of Operating Results .................................................................................................................. 5 (2) Analysis of Financial Position ................................................................................................................... 9 (3) Basic Dividend Policy and Dividends for Fiscal 2015 and Fiscal 2016 .................................................... 9 2. Status of the Group .................................................................................... 11 3. Management Policies ................................................................................. 13 (1) Basic Management Policies ................................................................................................................... 13 (2) Medium- to Long-Term Management Strategies and Issues to be Addressed ..................................... 13 (3) Progress in Management Framework and Management Benchmarks .................................................. 16 4. Basic Policy for Selection of Accounting Standards .......................................... 17 5. Consolidated Financial Statements ................................................................ 18 (1) Consolidated Balance Sheets ................................................................................................................ 18 (2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income .......... 20 (3) Consolidated Statements of Changes in Net Assets ............................................................................. 22 (4) Consolidated Statements of Cash Flows ............................................................................................... 24 (5) Notes to Consolidated Financial Statements ........................................................................................