Akebono Brake Announces Financial Results for First Half of FY 2006.Tokyo, Japan, Oct 30, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Akebono Brake Industry Co., Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 7238) today announced consolidated financial results for the first half of the fiscal year ending March 31, 2007. In the six months through September, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight totaled 86.2 billion, an increase of 21.9 billion yen compared to the same period last year. Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. rose by 1.5 billion yen to 6.1 billion yen, and ordinary profit increased by 0.4 billion yen to 5.1 billion yen. Net profit for the period was 2.8 billion yen, a 0.7 billion yen increase compared to the previous year.
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(Billions yen)
FY2006 H1 FY2005 H1 Change
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Net sales 86.2 64.3 +21.9
Operating profit 6.1 4.6 +1.5
Ordinary profit 5.1 4.7 +0.4
Net profit 2.8 2.1 +0.7
Net profit per share (1H, yen) 26.30 21.21 +5.09
Total assets 149.4 126.2 +23.2
Net assets 46.7 35.0 +11.8
Equity ratio (%) 28.2 27.7 +0.5
Net assets per share (yen) 392.77 27.69 +65.08
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Regional Overview Japan Sales and profits decreased compared to the previous period, due to a lower than expected performance among some automakers and higher material procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. costs. As a result, net sales decreased by 3.3 billion yen to 46.8 billion yen, and operating profit fell by 0.8 billion yen to 3.7 billion yen. North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. Sales and profits sharply increased compared to the previous period, due to the effect of a stake increase in a consolidated subsidiary (Ambrake Corporation) and an overall increase in orders, as Japanese automakers in the region made advances and orders increased from the Big 3. As a result, net sales increased by 20.6 billionto 34.2 billion yen and ordinary profit rose by 2.2. billion yen to 2.4 billion yen. Europe and others (Europe, China, Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. ) Net sales for the region increased by 4.6 billion yen to 5.2 billion yen and operating profit rose by 0.2 billion yen to 0.0 billion yen, owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de steady business progress and cost reduction efforts, in addition to the effect of a stake increase in a consolidated subsidiary (PT. Tri Dharma dharma (där`mə). In Hinduism, dharma is the doctrine of the religious and moral rights and duties of each individual; it generally refers to religious duty, but may also mean social order, right conduct, or simply virtue. Wisesa). Financial Position Cash Flow The closing balance of cash and cash equivalents on a consolidated basis for the first half of the fiscal year ending March 31, 2007 was 3.6 billion yen, a decrease of 1.5 billion yen compared to last year, resulting from the following activities. Free cash flow was 1.1 billion yen. Cash flow through operating activities Net cash from operating activities was 3.9 billion yen. Contributing factors include net income before taxes and other adjustments of 5.0 billion yen for the period, depreciation of 4.4 billion yen, and paid income taxes of 3.6 billion yen. Cash flow through investing activities Net cash used in investment activities was 2.8 billion yen. Main factors impacting the figure were outflows of 2.6 billion yen to acquire tangible fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → and 1.0 billion yen in IT-related investments to acquire intangible fixed assets, and 0.9 billion yen in proceeds from the sale of investment securities. Cash flow through financing activities Net cash used in financing activities was 2.7 billion yen. Contributing factors include 4.8 billion yen in repayment of long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. borrowings, 7.4 billion yen in proceeds from long-term borrowings, 3.0 billion yen in repayment of short-term borrowings, and 0.6 billion yen in paid dividends. Forecast for FY 2006 (fiscal year ending March 31, 2007) While Japan showed continued signs of gradual economic recovery thanks to increased corporate profits and higher capital expenditures, a number of unpredictable factors remain, including the continued steep rise of material and oil prices from last year and an uncertain economic outlook in North America, especially in the auto industry. Amidst a·midst prep. Variant of amid. [Middle English amiddes : amidde; see amid + -es, adverbial suffix; see -s3.] these circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , the Akebono Group is endeavoring to meet its financial targets. Consolidated forecasts for the fiscal year ending March 31, 2007 are net sales of 172.0 billion yen, operating profit of 14.0 billion yen, ordinary profit of 13.2 billion yen and a net profit of 7.5 billion yen.
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(Billions yen)
FY 2006 FY 2005 Change
forecast results
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Net sales 172.0 142.3 +29.7
Operating profit 14.0 11.7 +2.3
Ordinary profit 12.4 11.0 +1.4
Net profit 7.5 5.9 +1.6
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About Akebono Brake Industry Co., Ltd. Akebono Brake Industry, Co., Ltd. (TSE: 7238), established in 1929, is a world leader in advanced brake and friction material development and production. Akebono's portfolio includes brake products for automobiles, motorbikes, rolling stock rolling stock Any of various readily movable transportation equipment such as automobiles, locomotives, railroad cars, and trucks. Rolling stock generally makes good collateral for loans because the equipment is standardized and easily transportable among , and industrial machinery, and sensor A device that measures or detects a real-world condition, such as motion, heat or light and converts the condition into an analog or digital representation. An optical sensor detects the intensity or brightness of light, or the intensity of red, green and blue for color systems. products for automobiles. The Akebono Group operates R&D centers in Japan, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and France, and has wholly owned or affiliated manufacturing facilities in Japan, the United States, France, China and Indonesia. Akebono recorded net sales of 142.3 billion yen in the fiscal year ended March 31, 2006, and employs over 6,000 people worldwide on a consolidated basis. For more information, please visit www.akebono-brake.co.jp Source: Akebono Brake Industry Co., Ltd. Contact: Akebono Brake Industry Co., Ltd. Corporate Communications Office Matthew Nicholson Tel: +81-3-3668-5183 Fax: +81-3-5695-7391 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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