TIDMMBC
RNS Number : 9738D
Mitsubishi Corporation
04 February 2015
FINANCIAL RESULTS FOR
THE NINE MONTHS ENDED DECEMBER 2014
-----------------------------------------
Mitsubishi Corporation
2-3-1 Marunouchi, Chiyoda-ku, Tokyo, JAPAN 100-8086
http://www.mitsubishicorp.com/
February 4, 2015
Mitsubishi Corporation
Mitsubishi Corporation and subsidiaries
FINANCIAL HIGHLIGHTS
for the nine months ended December 31, 2014
(Based on IFRS) (Consolidated)
1. Consolidated operating results for the nine months ended
December 31, 2014
(1) Revenues and income
Note:
Figures less than one million
yen are rounded.
%: change from the same
period of the previous
year
-------------- -------------- ---------------- --------------------------------------------------------------
Revenues Income Net income Net income Comprehensive
before attributable income
income to owners
taxes of the
Parent
-------------- -------------- ---------------- -------------------- -------------------- ------------------
For the Millions % Millions % Millions % Millions % Millions %
nine months of Yen of Yen of Yen of Yen of Yen
ended
December
31, 2014 5,844,124 2.1 423,212 (10.5) 320,361 (9.6) 315,318 (5.7) 616,102 (4.1)
December
31, 2013 5,725,410 473,096 354,573 334,466 642,734
-------------- --------- --- -------- ------ ----------- ------- ----------- ------- ---------- ------
Net income Net income
attributable attributable
to owners to owners
of the Parent of the Parent
per share per share
(basic) (diluted)
-------------- ---------------- ----------------
For the Yen Yen
nine months
ended
December
31, 2014 193.73 193.28
December
31, 2013 203.00 202.53
-------------- ---------- ---- ---------- ----
NOTE: Net income attributable to owners of the Parent per share
(basic) and Net income attributable to owners of the Parent per
share (diluted) are calculated based on Net income attributable to
owners of the Parent.
(2) Financial position
Total assets Total equity Equity attributable Ratio of
to equity attributable
owners of to owners
the Parent of the Parent
to total
assets
-------------- ------------ ------------ ------------------- --------------------
As of Millions Millions Millions %
of Yen of Yen of Yen
December
31, 2014 17,148,406 5,955,341 5,465,169 31.9
March 31,
2014 15,901,125 5,539,370 5,067,666 31.9
-------------- ------------ ------------ ------------------- --------------------
2. Dividends
Cash dividend per share (Yen)
--------------------- --------------------------------------
(Record date) 1Q end 2Q end 3Q end 4Q end Annual
--------------------- ------ ------ ------ ------ ------
Fiscal Year
ended March
31, 2014 - 30.00 - 38.00 68.00
--------------------- ------ ------ ------ ------ ------
Fiscal Year
ending March
31, 2015 - 40.00 -
--------------------- ------ ------ ------ ------ ------
Fiscal Year
ending March
31, 2015 (Forecast) 30.00 70.00
--------------------- ------ ------ ------ ------ ------
NOTE: (1) Change from the latest released dividend forecasts:
None
(2) Breakdown of 2Q end dividend for the year ended March 31,
2015: Regular dividend 30.00Yen; commemorative dividend
10.00Yen
3. Outlook for the fiscal year ending March 31, 2015 (April 1,
2014 to March 31, 2015)
Note:
%: change from the
previous year.
-------------- --------------------------------------------
Net income Net income
attributable attributable
to to owners
owners of the Parent
of the per share
Parent
-------------- ---------------------- --------------------
For the Millions % Yen
year ending of Yen
March 31,
2015 400,000 10.7 246.05
-------------- -------------- ------ --------------------
NOTE: Change from the latest released earnings forecasts:
None
4. Notes
(1) Changes in significant subsidiaries during the period
(changes in specified subsidiaries causing changes in scope of
consolidation): Yes
New companies: 0
Excluded companies: 1 (MCX GULF OF MEXICO, LLC)
Note; For more details, please refer to "2(1).Significant
Changes in Subsidiaries During the Nine Months Ended December
2014".
(2) Changes in accounting principles and accounting estimate
-1- Changes in accounting principles required by IFRS : Yes
-2- Changes other than -1- : None
-3- Changes in accounting estimate : None
(3) Number of shares issued (Common stock)
-1- Number of shares issued, including treasury stock
(December 31,
2014) 1,624,036,751
(March 31, 2014) 1,653,505,751
-2- Number of shares of treasury stock
(December 31,
2014) 4,068,695
(March 31, 2014) 4,964,444
-3- Average number of shares during nine months (Apr-Dec.)
(December 31,
2014) 1,627,600,007
(December 31,
2013) 1,647,653,868
Disclosure Regarding Quarterly Review Procedures
As of the date of disclosure of this quarterly earnings release,
a review of the quarterly financial statements is being carried out
in accordance with the Financial Instruments and Exchange Act.
Forward-looking Statements
Earnings forecasts and other forward-looking statements in this
release are based on data currently available to management and
certain assumptions that management believes are reasonable. The
achievement of said forecasts cannot be promised. Actual results
may therefore differ materially from these statements for various
reasons. For cautionary notes concerning assumptions for earnings
forecasts and use of earnings forecasts, please refer to
"1(3).Qualitative Information Concerning Consolidated Forecasts for
the Year Ending March 2015."
Contents
1. Qualitative Information Concerning Consolidated Operating
Results--------------------------------------------------------------------------------------------------------------
2
(1) Qualitative Information Related to Consolidated Results of
Operations--------------------------------------------------------------------------------------------
2
(2) Qualitative Information Concerning Consolidated Financial
Position----------------------------------------------------------------------------------------------------
6
(3) Qualitative Information Concerning Consolidated Forecasts
for the Year Ending March 2015---------------------------- 8
2. Summary Information (Notes)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
9
(1) Significant Changes in Subsidiaries During the Nine Months
Ended December
2014---------------------------------------------------- 9
(2) Changes in Accounting Policies and Changes in Accounting
Estimates--------------------------------------------------------------------------------------------
9
3. Condensed Consolidated Financial
Statements----------------------------------------------------------------------------------------------------------------------------------------------------------------------
10
(1) Condensed Consolidated Statement of Financial Position
(IFRS)
----------------------------------------------------------------------------------------------------
10
(2) Condensed Consolidated Statement of Income (IFRS)
--------------------------------------------------------------------------------------------------------------------------------
12
(3) Condensed Consolidated Statement of Other Comprehensive
Income (IFRS)
------------------------------------------------------------------
13
(4) Condensed Consolidated Statement of Changes in Equity (IFRS)
----------------------------------------------------------------------------------------------------
14
(5) Condensed Consolidated Statement of Cash Flows (IFRS)
--------------------------------------------------------------------------------------------------------------------
15
(6) Notes Concerning Going Concern
Assumption----------------------------------------------------------------------------------------------------------------------------------------------------------
16
(7) Segment Information (Condensed) (IFRS)
------------------------------------------------------------------------------------------------------------------------------------------------------------------
16
(8) Notes Concerning Major Changes in Shareholders'
Equity--------------------------------------------------------------------------------------------------------------------------
16
*Mitsubishi Corporation will hold an earnings conference call
for the nine months ended December 2014, inviting institutional
investors and analysts to join.
The conference material can be accessed live in Japanese from
the following URL:
http://www.mitsubishicorp.com/jp/ja/ir/index.html
Date and Time of the earnings conference call:
Wednesday, February 4, 2015 from 17:00 to 18:00 (Japan Time)
(English interpretation of the conference call will be posted in
the Investor Relations section of our web site as soon as it
becomes available.)
1. Qualitative Information Concerning Consolidated Operating
Results
(Consolidated net income, as used hereinafter, refers to net
income attributable to owners of the Parent.)
(1) Qualitative Information Related to Consolidated Results of
Operations
Summary of Results for the Nine Months Ended December 2014
In the first nine months of the year ending March 2015, the U.S.
economy continued to experience a solid recovery, driven by
consumer spending. In Europe, there were continuing signs of an
upturn in overall economic conditions, albeit at a gradual pace of
recovery. Certain emerging nations experienced a slowdown in
economic growth. The Japanese economy followed a moderate recovery
path, despite a pull-back from last-minute demand ahead of the
increase in the consumption tax rate. In the latter half of 2014,
resource prices such as crude oil prices decreased, while the yen
depreciated further.
Against this backdrop, revenues for the first nine months of the
year ending March 2015 increased 118.7 billion yen, or 2% year over
year, to 5,844.1 billion yen. This increase was mainly due to
higher transaction volumes and foreign currency factors.
Gross profit was 882.1 billion yen, mostly unchanged year on
year.
Selling, general and administrative expenses increased 37.3
billion yen, or 5%, to 732.9 billion yen, due mainly to the impact
of business expansion (new consolidations).
In other P/L items, impairment losses on long-lived assets
increased mainly due to the recording of impairment losses in the
gas and oil development business in North America and Europe, while
other (expense) income-net and finance income increased mainly due
to an improvement in foreign exchange gains and losses, as well as
to higher dividend income from resource-related investees.
Income from investments accounted for using the equity method
increased 10.6 billion yen, or 6%, to 177.8 billion yen.
As a result, consolidated net income attributable to owners of
the Parent for the nine months ended December 2014 decreased 19.1
billion yen, or 6%, to 315.3 billion yen.
Review of Operating Segments
1) Global Environmental & Infrastructure Business Group
The Global Environmental & Infrastructure Business Group
conducts infrastructure projects, related trading operations and
other activities in power generation, water, transportation and
other infrastructure fields that serve as a foundation for
industry.
The segment recorded consolidated net income of 23.1 billion
yen, an increase of 4.8 billion yen year over year.
The higher earnings mainly reflect increased earnings from the
FPSO (Floating Production Storage & Offloading System)
chartering business and the North American power generation
business, despite the absence of gains accompanying the sale of
part of a power generation business subsidiary recorded in the
previous fiscal year.
2) Industrial Finance, Logistics & Development Group
The Industrial Finance, Logistics & Development Group is
developing shosha-type industrial finance business. These
businesses range from asset management, infrastructure investment,
and buyout investment to leasing, real estate development and
logistics services.
The segment recorded consolidated net income of 36.5 billion
yen, an increase of 11.6 billion yen year over year.
The higher earnings mainly reflected increased earnings in the
fund investment business and the sale of real estate held for
sale.
3) Energy Business Group
The Energy Business Group conducts a number of activities
including oil and gas exploration, development and production
(E&P) business; investment in natural gas liquefaction
projects; trading of crude oil, petroleum products, carbon
materials and products, LNG (Liquefied Natural Gas), and LPG
(Liquefied Petroleum Gas); and planning and development of new
energy business.
The segment recorded consolidated net income of 80.3 billion
yen, a decrease of 26.2 billion yen year over year.
This decrease mainly reflected the recording of impairment
losses in the gas and oil development business in North America and
Europe in line with a decrease in oil prices and changes in the
business environment.
4) Metals Group
The Metals Group trades, develops business and invests in a
range of fields. These include steel products such as steel sheets
and thick plates, steel raw materials such as coking coal and iron
ore, and non-ferrous raw materials and products such as copper and
aluminum.
The segment recorded consolidated net income of 25.7 billion
yen, a decrease of a 1.3 billion yen year over year.
The decrease reflects mainly lower sales prices in the
Australian coal business.
5) Machinery Group
The Machinery Group handles sales, finance and logistics across
many different sectors, in which it also invests. These fields
include machine tools, agricultural machinery, construction
machinery, mining machinery, elevating machinery, ships,
aerospace-related equipment and motor vehicles.
The segment recorded consolidated net income of 68.5 billion
yen, a decrease of 9.5 billion yen year over year.
This decrease mainly reflects lower sales in Asian automobile
operations and the rebound of a one-off gain associated with the
revaluation of assets recorded in the previous fiscal year.
6) Chemicals Group
The Chemicals Group trades chemical products in a broad range of
fields, in which it also develops business and invests. These
fields extend from basic materials such as ethylene, methanol, and
salt produced from crude oil, natural gas, minerals, plants, marine
resources and so forth, to midstream and downstream products such
as plastics, electronic materials, food ingredients, fertilizer and
fine chemicals.
The segment recorded consolidated net income of 21.4 billion
yen, a decrease of 1.6 billion yen year over year.
Earnings decreased mainly due to lower earnings on transactions
at a petrochemical business-related company.
7) Living Essentials Group
The Living Essentials Group provides products and services,
develops businesses and invests in various fields closely linked
with people's lives, including food products and food, textiles,
essential supplies, healthcare, distribution and retail. These
fields extend from the procurement of raw materials to the consumer
market.
The segment recorded consolidated net income of 56.0 billion
yen, an increase of 11.7 billion yen year over year.
Earnings increased mainly due to higher sales prices in the
livestock business.
(2) Qualitative Information Concerning Consolidated Financial
Position
Changes in Assets, Liabilities and Equity
Total assets at December 31, 2014 were 17,148.4 billion yen, an
increase of 1,247.3 billion yen from March 31, 2014. Total assets
rose mainly because of an increase in investments accounted for
using the equity method due to the impact of the yen's depreciation
and new and additional investments, an increase in trade
receivables and other receivables mainly due to increased sales
volume, as well as increases in various asset items associated with
the acquisition of new subsidiaries.
Total liabilities were 11,193.1 billion yen, an increase of
831.3 billion yen. This mainly reflected an increase in long-term
debt due to the impact of the yen's depreciation, the procurement
of funds for making new and additional investments, and an increase
in trade payables and other payables mainly due to a higher number
of transactions, as well as an increase in short-term debt
reflecting the procurement of funds in line with an increase in
working capital at subsidiaries.
Interest-bearing liabilities (net), which are interest-bearing
liabilities (gross) minus cash and cash equivalents and time
deposits, increased 441.4 billion yen from March 31, 2014 to
5,042.5 billion yen. The net debt-to-equity ratio, which is net
interest-bearing liabilities divided by equity attributable to
owners of the Parent, was 0.9.
Equity attributable to owners of the Parent increased 397.5
billion yen to 5,465.2 billion yen. This increase was mainly due to
an increase in retained earnings because of the consolidated net
income, as well as an increase in exchange differences on
translating foreign operations in line with the yen's depreciation,
which were partly offset by the payment of dividends at the
Parent.
Cash Flows
Cash and cash equivalents at December 31, 2014 were 1,342.5
billion yen, an increase of 10.5 billion yen from March 31,
2014.
(Operating activities)
Net cash provided by operating activities was 357.7 billion yen,
mainly due to cash flows from operating transactions and dividend
income.
(Investing activities)
Net cash used in investing activities was 274.8 billion yen.
Investing activities used net cash mainly due to an investment in a
salmon farming company and capital expenditures in the Australian
coal business, despite cash provided by the sale of aircraft and
the collection of loans receivable at subsidiaries.
As a result, free cash flow, the sum of operating and investing
cash flows, was a positive 82.9 billion yen.
(Financing activities)
Net cash used in financing activities was 131.6 billion yen.
Financing activities used net cash mainly due to the purchase of
treasury stock and the payment of dividends at the Parent.
(3) Qualitative Information Concerning Consolidated Forecasts
for the Year Ending March 2015
There has been no change to the consolidated earnings forecasts
for the year ending March 2015 announced on May 8, 2014. Please
note that the basic assumptions for the earnings forecasts have
been revised, as follows.
(Reference) Change of basic assumptions
Year Ending March Year Ending March Change
2015 (Forecasts) 2015 (Forecasts)
Announced February Announced on May
4, 2015 8, 2014
--------------- ------------------- ----------------- ------------
Exchange Yen 108.8/US$ Yen 100/US$ +Yen 8.8/US$
Rate
--------------- ------------------- ----------------- ------------
Crude oil US$83/BBL US$100/BBL US$-17/BBL
price
--------------- ------------------- ----------------- ------------
Interest
rate (TIBOR) 0.20 % 0.25 % -0.05 %
--------------- ------------------- ----------------- ------------
Note:
Earnings forecasts and other forward-looking statements in this
release are based on data currently available to management and
certain assumptions that management believes are reasonable.
Therefore, they do not constitute a guarantee that they will be
achieved. Actual results may differ materially from these
statements for various reasons.
2. Summary Information (Notes)
(1) Significant Changes in Subsidiaries During the Nine Months
Ended December 2014
(Changes in Specified Subsidiaries Causing Changes in Scope of
Consolidation)
From the nine months ended December 2014, MCX GULF OF MEXICO,
LLC is excluded from the scope of consolidation due to its
extinguishment following the execution of an absorption-type merger
in which MCX EXPLORATION (USA), LLC, a group company of Mitsubishi
International Corporation (U.S.A.), was the surviving company and
MCX GULF OF MEXICO, LLC was the extinguished company. Mitsubishi
International Corporation (U.S.A.) is a U.S. subsidiary of
Mitsubishi Corporation.
(2) Changes in Accounting Policies and Changes in Accounting
Estimates
The important accounting policies applied to the condensed
consolidated financial statements for the nine months ended
December 2014 are identical to the accounting policies applied to
the consolidated financial statements for the previous fiscal year,
except for the following:
New standards and interpretation guidelines applied
Standard and interpretation Outline
guideline
---------------------------- ------------------------------------
IFRIC 21 Levies Accounting treatment of liabilities
related to levies
---------------------------- ------------------------------------
IAS 36 Impairment Disclosure requirements for
of Assets (Amended) the recoverable amount of impaired
assets
---------------------------- ------------------------------------
The adoption of the above standards and interpretation
guidelines had no impact on the condensed consolidated financial
statements for the nine months ended December 2014.
3. Condensed Consolidated Financial Statements
Mitsubishi Corporation and subsidiaries
(1). CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(IFRS)
March 31, 2014 and December 31, 2014
ASSETS Millions of Yen
--------------------------------- ----------------------
March 31 December
31
2014 2014
--------------------------------- ---------- ----------
Current assets
Cash and cash equivalents 1,332,036 1,342,510
Time deposits 142,705 152,003
Short-term investments 23,533 22,451
Trade and other receivables 3,751,865 3,967,535
Other financial assets 136,398 198,210
Inventories 1,287,959 1,377,011
Biological assets 18,059 75,537
Advance payments to suppliers 236,493 245,993
Assets classified as held
for sale 55,874 109,483
Other current assets 285,121 410,903
---------- ----------
Total current assets 7,270,043 7,901,636
Non-current assets
Investments accounted
for using the equity method 2,833,576 3,122,474
Other investments 2,122,444 2,241,100
Trade and other receivables 623,686 612,597
Other financial assets 93,174 129,730
Property and equipment 2,509,918 2,557,050
Investment property 103,725 105,290
Intangible assets and
goodwill 213,729 321,958
Deferred tax assets 45,822 42,613
Other non-current assets 85,008 113,958
---------- ----------
Total non-current assets 8,631,082 9,246,770
--------------------------------- ---------- ----------
Total 15,901,125 17,148,406
--------------------------------- ---------- ----------
Mitsubishi Corporation and subsidiaries
(1). CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(IFRS)
March 31, 2014 and December 31, 2014
LIABILITIES AND EQUITY Millions of Yen
------------------------------------- ----------------------
March 31 December
31
2014 2014
------------------------------------- ---------- ----------
Current liabilities
Borrowings 1,381,980 1,530,983
Trade and other payables 2,680,954 2,850,009
Other financial liabilities 110,557 206,584
Advances from customers 220,041 238,940
Income tax payables 86,251 37,896
Liabilities directly associated
with assets classified
as held for sale 9,043 -
Other current liabilities 363,765 437,373
---------- ----------
Total current liabilities 4,852,591 5,301,785
Non-current liabilities
Borrowings 4,693,855 5,006,036
Trade and other payables 91,361 83,106
Other financial liabilities 32,966 29,883
Accrued pension and retirement
benefits 65,452 62,995
Deferred tax liabilities 462,391 510,902
Other non-current liabilities 163,139 198,358
---------- ----------
Total non-current liabilities 5,509,164 5,891,280
---------- ----------
Total liabilities 10,361,755 11,193,065
---------- ----------
Equity
Common stock 204,447 204,447
Additional paid-in capital 265,356 266,452
Treasury stock (14,081) (8,689)
Other components of equity
Other investments designated
as FVTOCI 625,151 654,219
Cash flow hedges (4,119) (12,954)
Exchange differences on
translating foreign operations 638,220 882,769
---------- ----------
Total other components
of equity 1,259,252 1,524,034
Retained earnings 3,352,692 3,478,925
---------- ----------
Equity attributable to
owners of the Parent 5,067,666 5,465,169
Non-controlling interest 471,704 490,172
---------- ----------
Total equity 5,539,370 5,955,341
------------------------------------- ---------- ----------
Total 15,901,125 17,148,406
------------------------------------- ---------- ----------
Mitsubishi Corporation and subsidiaries
(2). CONDENSED CONSOLIDATED STATEMENT OF INCOME (IFRS)
for the nine months ended December 31, 2013 and 2014
Millions of Yen
------------------------
Nine months Nine months
ended ended
December December
31, 2013 31, 2014
------------------------------------- ----------- -----------
Revenues 5,725,410 5,844,124
Costs of revenues (4,844,075) (4,962,039)
----------- -----------
Gross profit 881,335 882,085
Selling, general and administrative
expenses (695,622) (732,912)
Gains on investments 36,615 30,189
Gains on sale and disposal of
long-lived assets 6,676 19,047
Impairment losses on long-lived
assets (11,621) (67,303)
Other (expense) income _net (40,015) (7,181)
Finance income 150,988 157,306
Finance costs (22,464) (35,838)
Income from investments accounted
for using the equity method 167,204 177,819
----------- -----------
Income before income taxes 473,096 423,212
Income taxes (118,523) (102,851)
----------- -----------
Net income 354,573 320,361
Net income attributable to:
Owners of the Parent 334,466 315,318
Non-controlling interest 20,107 5,043
----------- -----------
354,573 320,361
------------------------------------- ----------- -----------
Mitsubishi Corporation and subsidiaries
(3). CONDENSED CONSOLIDATED STATEMENT OF OTHER
COMPREHENSIVE INCOME (IFRS)
for the nine months ended December 31, 2013 and 2014
Millions of Yen
------------------------
Nine months Nine months
ended ended
December December
31,2013 31,2014
----------------------------------------- ----------- -----------
Net income 354,573 320,361
Other comprehensive income (loss),
net of tax
Items that will not be reclassified
to net income:
Gains on other investments designated
as FVTOCI 73,234 39,604
Remeasurement of defined benefit
pension plans 1,282 (1,031)
----------- -----------
Total 74,516 38,573
Items that may be reclassified
to net income:
Cash flow hedges (12,766) (9,019)
Exchange differences on translating
foreign operations 226,411 266,187
----------- -----------
Total 213,645 257,168
----------- -----------
Total other comprehensive income,
net of tax 288,161 295,741
----------- -----------
Total comprehensive income 642,734 616,102
Comprehensive income attributable
to:
Owners of the Parent 608,660 582,524
Non-controlling interest 34,074 33,578
----------- -----------
642,734 616,102
----------------------------------------- ----------- -----------
Mitsubishi Corporation and subsidiaries
(4). CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
(IFRS)
for the nine months ended December 31, 2013 and 2014
Millions of Yen
------------------------
Nine months Nine months
ended ended
December December
31 ,2013 31 ,2014
----------------------------------------------- ----------- -----------
Common stock:
Balance, beginning of year 204,447 204,447
----------- -----------
Balance, end of year 204,447 204,447
Additional paid-in capital:
Balance, beginning of year 261,987 265,356
Compensation costs related to
stock options 1,091 1,110
Sales of treasury stock upon
exercise of stock options (1,070) (1,025)
Equity transactions with non-controlling
interests and others (1,402) 1,011
----------- -----------
Balance, end of year 260,606 266,452
Treasury stock:
Balance, beginning of year (17,970) (14,081)
Sales of treasury stock upon
exercise of stock options 2,334 2,093
Purchases and sales_net 264 (60,010)
Cancellation - 63,309
----------- -----------
Balance, end of year (15,372) (8,689)
Other components of equity:
Balance, beginning of year 1,046,595 1,259,252
Other comprehensive income attributable
to owners of the Parent 274,194 267,206
Transfer to retained earnings (40,769) (2,424)
----------- -----------
Balance, end of year 1,280,020 1,524,034
Retained earnings:
Balance, beginning of year 3,022,048 3,352,692
Net income attributable to owners
of the Parent 334,466 315,318
Cash dividends paid to owners
of the Parent (98,862) (127,437)
Sales of treasury stock upon
exercise of stock options (1,036) (763)
Cancellation of treasury stock - (63,309)
Transfer from other components
of equity 40,769 2,424
----------- -----------
Balance, end of year 3,297,385 3,478,925
----------- -----------
Equity attributable to owners
of the Parent 5,027,086 5,465,169
----------- -----------
Non-controlling interest:
Balance, beginning of year 414,668 471,704
Cash dividends paid to non-controlling
interest (22,635) (23,342)
Equity transactions with non-controlling
interest and others 19,794 8,232
Net income attributable to non-controlling
interest 20,107 5,043
Other comprehensive income attributable
to non-controlling interest 13,967 28,535
----------- -----------
Balance, end of year 445,901 490,172
----------- -----------
Total equity 5,472,987 5,955,341
----------------------------------------------- ----------- -----------
Mitsubishi Corporation and subsidiaries
(5). CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (IFRS)
for the nine months ended December 31, 2013 and 2014
Millions of Yen
------------------------
Nine months Nine months
ended ended
December December
31, 2013 31, 2014
------------------------------------------------ ----------- -----------
Operating activities:
Net income 354,573 320,361
Adjustments to reconcile net
income to net cash provided by
operating activities:
Depreciation and amortization 136,551 147,384
Gains on investments (36,615) (30,189)
Losses on long-lived assets 4,945 48,256
Finance income _net of finance
costs (128,524) (121,468)
Income from investments accounted
for using the equity method (167,204) (177,819)
Income taxes 118,523 102,851
Changes in notes and accounts
receivable_trade (234,198) (204,785)
Changes in inventories (54,368) 6,511
Changes in notes, acceptance
and accounts payable_trade 142,456 156,681
Other_net 18,737 (49,487)
Dividends received 259,596 315,340
Interest received 54,540 58,626
Interest paid (31,066) (45,004)
Income taxes paid (120,042) (169,565)
----------- -----------
Net cash provided by operating
activities 317,904 357,693
Investing activities:
Expenditures for property and
equipment (382,384) (248,612)
Proceeds from sales of property
and equipment 72,195 96,207
Purchases of investments accounted
for using the equity method (142,914) (122,784)
Proceeds from sales of investments
accounted for using the equity
method 46,763 51,368
Acquisitions of businesses_net
of cash acquired (36,627) (154,332)
Proceeds from sales of businesses_net
of cash divested 9,875 6,593
Purchases of other investments (63,723) (42,217)
Proceeds from sales of other
investments 214,799 50,336
Increase in loans receivable (62,151) (58,741)
Collection of loans receivable 104,913 145,081
Net (increase) decrease in time
deposits (6,418) 2,303
----------- -----------
Net cash used in investing activities (245,672) (274,798)
------------------------------------------------ ----------- -----------
Millions of Yen
------------------------
Nine months Nine months
ended ended
December December
31, 2013 31, 2014
------------------------------------------------ ----------- -----------
Financing activities:
Net (decrease) increase in short
- term debts (60,397) 114,132
Proceeds from long-term debts_net
of issuance costs 576,543 748,703
Repayment of long-term debts (513,782) (785,929)
Payment of dividends (98,862) (127,437)
Payment of dividends to the non
- controlling interest (22,635) (23,342)
Payment for acquisition of subsidiary's
interests from the non - controlling
interest (4,210) (6,158)
Proceeds from sales of subsidiary's
interests to the non - controlling
interest 9,851 8,112
Net decrease (increase) in treasury
stock 492 (59,705)
----------- -----------
Net cash used in financing activities (113,000) (131,624)
Effect of exchange rate changes
on cash and cash equivalents 19,382 59,203
Net (decrease) increase in cash
and cash equivalents (21,386) 10,474
----------- -----------
Cash and cash equivalents, beginning
of period 1,345,920 1,332,036
----------- -----------
Cash and cash equivalents, end
of period 1,324,534 1,342,510
------------------------------------------------ ----------- -----------
(6). Notes Concerning Going Concern Assumption
None
(7). Segment information (Condensed) (IFRS)
Nine months ended December 31, 2013
Millions of Yen
--------------------------------------------------------------------------------------------------------------------------------------
Global Industrial Energy Metals Machinery Chemicals Living Total Other Adjustments Consolidated
Environmental Finance, Business Essentials and
& Logistics Eliminations
Infrastructure &
Business Development
-------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
Gross
profit 21,376 48,496 49,772 175,779 139,537 76,387 357,141 868,488 16,712 (3,865) 881,335
Income
(loss)
from
investments
accounted
for using
the equity
method 20,605 14,428 60,502 16,527 23,733 16,908 16,935 169,638 (2,794) 360 167,204
Net income
attributable
to owners
of the
Parent 18,318 24,949 106,465 27,045 78,013 22,993 44,347 322,130 10,946 1,390 334,466
Total
assets
(As of
March
31) 866,996 1,031,393 2,464,014 4,703,943 1,891,157 1,008,397 2,662,090 14,627,990 3,143,721 (1,870,586) 15,901,125
-------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
Nine months ended December 31, 2014
Millions of Yen
--------------------------------------------------------------------------------------------------------------------------------------
Global Industrial Energy Metals Machinery Chemicals Living Total Other Adjustments Consolidated
Environmental Finance, Business Essentials and
& Logistics Eliminations
Infrastructure &
Business Development
-------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
Gross
profit 21,682 59,553 35,003 148,178 147,008 84,384 379,513 875,321 10,807 (4,043) 882,085
Income
(loss)
from
investments
accounted
for using
the equity
method 28,453 26,463 59,147 13,195 23,522 13,453 15,420 179,653 (1,489) (345) 177,819
Net income
attributable
to owners
of the
Parent" 23,082 36,505 80,315 25,690 68,505 21,440 55,964 311,501 3,624 193 315,318
Total
assets
(As of
December
31) 983,997 990,899 2,500,982 5,123,590 2,017,865 1,048,565 3,281,947 15,947,845 3,505,061 (2,304,500) 17,148,406
-------------- -------------- ----------- --------- --------- --------- --------- ---------- ---------- --------- ------------ ------------
*1. "Other" represents the corporate departments which primarily
provide services and operational support to the Company and
Affiliated companies.
This column also includes certain revenues and expenses from
business activities related to financing and human resource
services that are not allocated to reportable operating
segments.
Unallocated corporate assets categorized in "Other" consist
primarily of cash, time deposits and securities for financial and
investment activities.
*2. "Adjustments and Eliminations" include certain income and
expense items that are not allocated to reportable operating
segments and intersegment eliminations.
*3. The Company determines the infrastructure-related business
of the "Global Environmental & Infrastructure Business Group"
as an operating segment and is thus presented as the Global
Environmental & Infrastructure Business. The
environment-related business categorized in the "Other."
*4. Effective from April 1 and July 1, 2014 the part of
environment-related business in the "Other" was transferred to the
"Global Environment & Infrastructure Business."
With this change, the consolidated financial position and the
results of operations of related reportable operating segments for
the three months ended March 31, 2014 have also been reclassified
accordingly.
(8). Notes concerning major changes in shareholders' equity
None
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRTZZLBBELFBBBL
Mitsub.Corp (LSE:MBC)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Mitsub.Corp (LSE:MBC)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
