Financial Results for the Fiscal Year Ended March 31, 2014 [Japanese GAAP] Company Name: ROHTO Pharmaceutical Co., Ltd
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May 14, 2014 Consolidated Financial Results for the Fiscal Year Ended March 31, 2014 [Japanese GAAP] Company name: ROHTO Pharmaceutical Co., Ltd. Stock Exchange listing: TSE, First Section Stock code: 4527 URL: http://www.rohto.co.jp Representative: Toshiaki Yoshino, President and COO Contact: Masaya Saito, Director, General Manager, Corporate Planning & Administration Department Telephone: 81-(0) 6-6758-1211 Scheduled date of Annual General Meeting of Shareholders: June 24, 2014 Scheduled date of filing of Annual Securities Report: June 25, 2014 Scheduled date of dividend payment: June 10, 2014 Preparation of supplementary materials for financial results: Yes Holding of financial results meeting: Yes (for institutional investors and analysts) Note: The original disclosure in Japanese was released on May 14, 2014 at 15:00 (GMT +9). (All amounts are rounded down to the nearest million yen) 1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2014 (April 1, 2013 – March 31, 2014) (1) Consolidated results of operations (Percentages for net sales and incomes represent year-on-year changes) Net sales Operating income Ordinary income Net income Millions of yen % Millions of yen % Millions of yen % Millions of yen % Fiscal year ended Mar. 31, 2014 143,822 11.4 16,821 17.0 17,100 16.1 8,947 10.6 Fiscal year ended Mar. 31, 2013 129,146 7.4 14,380 5.5 14,730 7.6 8,087 (1.2) Note: Comprehensive income (Millions of yen): Fiscal year ended Mar. 31, 2014: 13,032 (up 4.9%) Fiscal year ended Mar. 31, 2013: 12,420 (up 65.7%) Net income per Diluted net Ordinary income Operating income ROE share income per share on total assets to net sales Yen Yen % % % Fiscal year ended Mar. 31, 2014 77.15 76.82 9.4 10.9 11.7 Fiscal year ended Mar. 31, 2013 68.78 68.49 9.2 10.3 11.1 Reference: Equity in earnings of affiliates (Millions of yen): Fiscal year ended Mar. 31, 2014: 167 Fiscal year ended Mar. 31, 2013: (15) (2) Consolidated financial position Total assets Net assets Equity ratio Net assets per share Millions of yen Millions of yen % Yen As of Mar. 31, 2014 162,249 98,627 60.2 861.49 As of Mar. 31, 2013 150,643 93,771 61.7 789.83 Reference: Shareholders’ equity (Millions of yen): As of Mar. 31, 2014: 97,679 As of Mar. 31, 2013: 92,876 (3) Consolidated cash flow Cash flows from Cash flows from Cash flows from Cash and cash equivalents operating activities investing activities financing activities at end of period Millions of yen Millions of yen Millions of yen Millions of yen Fiscal year ended Mar. 31, 2014 18,661 (12,620) (5,211) 23,026 Fiscal year ended Mar. 31, 2013 16,702 (10,595) (3,408) 19,867 2. Dividends Dividend per share Dividends on Total Payout ratio equity 1Q-end 2Q-end 3Q-end Year-end Total dividends (consolidated) (consolidated) Yen Yen Yen Yen Yen Millions of yen % % Fiscal year ended Mar. 31, 2013 - 8.00 - 9.00 17.00 1,999 24.7 2.3 Fiscal year ended Mar. 31, 2014 - 9.00 - 9.00 18.00 2,083 23.3 2.2 Fiscal year ending Mar. 31, 2015 - 9.00 - 9.00 18.00 19.3 (forecast) 3. Consolidated Forecast for the Fiscal Year Ending March 31, 2015 (April 1, 2014 – March 31, 2015) (Percentages represent year-on-year changes) Net sales Operating income Ordinary income Net income Net income per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen First half 68,500 6.1 6,500 (12.3) 6,700 (13.5) 4,100 (9.4) 36.16 Full year 152,000 5.7 17,000 1.1 17,200 0.6 10,600 18.5 93.49 * Notes (1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in change in scope of consolidation): None (2) Changes in accounting policies and accounting estimates, and restatements 1) Changes in accounting policies due to revisions in accounting standards, others: Yes 2) Changes in accounting policies other than 1) above: None 3) Changes in accounting estimates: None 4) Restatements: None Note: Please refer to page 19 of the attachments “3. Consolidated Financial Statements, (5) Notes to Consolidated Financial Statements” for further information. (3) Number of outstanding shares (common stock shares) 1) Number of shares outstanding at end of period (including treasury stock): As of Mar. 31, 2014: 117,929,250 shares As of Mar. 31, 2013: 117,924,768 shares 2) Number of shares of treasury stock at end of period: As of Mar. 31, 2014: 4,545,198 shares As of Mar. 31, 2013: 333,543 shares 3) Average number of shares outstanding during the period: Fiscal year ended Mar. 31, 2014: 115,971,620 shares Fiscal year ended Mar. 31, 2013: 117,590,931 shares Note: Number of shares of treasury stock as of March 31, 2014 includes Company stock held by the ESOP trust (527,000 shares at end of period). Reference: Summary of Non-consolidated Financial Results 1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2014 (April 1, 2013 – March 31, 2014) (1) Non-consolidated results of operations (Percentages represent year-on-year changes) Net sales Operating income Ordinary income Net income Millions of yen % Millions of yen % Millions of yen % Millions of yen % Fiscal year ended Mar. 31, 2014 84,434 2.0 11,651 0.3 12,277 1.2 4,232 (29.3) Fiscal year ended Mar. 31, 2013 82,754 6.8 11,613 5.9 12,132 5.2 5,983 7.0 Diluted net income Net income per share per share Yen Yen Fiscal year ended Mar. 31, 2014 36.50 36.34 Fiscal year ended Mar. 31, 2013 50.88 50.67 (2) Non-consolidated financial position Total assets Net assets Equity ratio Net assets per share Millions of yen Millions of yen % Yen As of Mar. 31, 2014 115,684 82,738 71.0 724.70 As of Mar. 31, 2013 115,230 85,244 73.5 720.05 Reference: Shareholders’ equity (Millions of yen): As of Mar. 31, 2014: 82,169 As of Mar. 31, 2013: 84,671 Note 1: Indication of audit procedure implementation status This summary report is not subject to the audit procedures based on the Financial Instruments and Exchange Law. At the time when this report was released, the audit procedures for financial statements have not been completed. Note 2: Cautionary statement with respect to forward-looking statements and other special items Forecasts regarding future performance in these materials are based on assumptions judged to be valid and information available to the Company at the time the materials were created. Actual results of operations may differ significantly from the forecasts depending on various factors. For discussion of the assumptions and other factors considered by the Company in preparing the above projections, please refer to page 2 of the attachments “1. Analysis of Results of Operations and Financial Position, (1) Analysis of Results of Operations.” ROHTO Pharmaceutical Co., Ltd. (4527) Financial Results for FY3/14 Contents of Attachments 1. Analysis of Results of Operations and Financial Position 2 (1) Analysis of Results of Operations 2 (2) Analysis of Financial Position 4 (3) Basic Policy of Profit Distribution and Dividends for the Current and Next Fiscal Years 6 2. Management Policies 7 (1) Basic Management Policy 7 (2) Target Performance Indicators 7 (3) Medium- and Long-term Business Strategy and Challenges 7 3. Consolidated Financial Statements 8 (1) Consolidated Balance Sheets 8 (2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income 10 (3) Consolidated Statements of Change in Shareholders’ Equity 13 (4) Consolidated Statements of Cash Flows 15 (5) Notes to Consolidated Financial Statements 17 Going Concern Assumption 17 Significant Accounting Policies in the Preparation of Consolidated Financial Statements 17 Change in Accounting Policies 18 Additional Information 18 Segment and Other Information 19 Per-share Information 22 Material Subsequent Events 22 1 ROHTO Pharmaceutical Co., Ltd. (4527) Financial Results for FY3/14 1. Analysis of Results of Operations and Financial Position (1) Analysis of Results of Operations (Millions of yen) Net sales Operating income Ordinary income Net income Fiscal year ended Mar. 31, 2014 143,822 16,821 17,100 8,947 Fiscal year ended Mar. 31, 2013 129,146 14,380 14,730 8,087 Year-on-year change (%) 11.4 17.0 16.1 10.6 This fiscal year, Japanese economy showed tentative signs of recovery as government economic measures led to a falling yen and rising stock market. Overseas, economic growth continued in Asia, although some countries were affected by political events. In Europe, the economy has started to recover following the slowdown caused by the debt crisis. In the United States, the economy continued to recover despite financial uncertainty. Overall, the result was a slow economic recovery in overseas economies. In this situation, the Rohto Group has moved into new fields with customer-oriented product development and marketing activities. In its existing categories, the Group endeavored to develop high value-added products and activate markets. In total, net sales increased 11.4% year-on-year, to 143,822 million yen, the 21st successive year of higher sales. Regarding profits, despite an increase in selling, general and administrative expenses, with the back of a strong performance in net sales, operating income rose 17.0% year-on-year to 16,821 million yen, ordinary income rose 16.1% to 17,100 million yen, and net income rose 10.6% to 8,947 million yen.