Kobayashi Pharmaceutical Reports Financial Results for the First Quarter Ended June 30, 2005.Osaka Osaka (ō`säkä), city (1990 pop. 2,623,801), capital of Osaka prefecture, S Honshu, Japan, on Osaka Bay, at the mouth of the Yodo River. , Japan, July July: see month. 25, 2005 - (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) - Kobayashi Pharmaceutical Co., Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 4967), a leading importer and distributor of medical equipment and pharmaceutical wholesaler, has announced consolidated financial results for the first quarter ended June 30, 2005. 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 recorded an increase of 14.9% on the previous first quarter ("previous term") to 61,414 million yen, while operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. rose to 3,998 million yen, an increase of 39.3%, and ordinary income rose 44.3% to 3,591 million yen. Asset impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. accounting for land that produced a loss of 1,437 million yen, however, with a result that net income for the first quarter registered at 1,680 million yen, the same as the previous fiscal year. Results for the first quarter were roughly in line with forecasts. Therefore, Kobayashi has not revised interim or full-year earnings projections announced on May 17, 2005. The Company is projecting consolidated sales of 250,000 million yen for the fiscal year ending March 31, 2006, and increase of 15.9% on the previous term, an increase in operating income of 5.1% to 802 million yen, an increase of 5.2% in ordinary income to 14,900 million yen, and current net income of 370 million yen, an increase of 5.5%. I. Consolidated Financial Summary (April 1, 2005 - June 30, 2005)
(1) Consolidated Operating Results
(Millions of Yen)
April 1 - June 30 Year ended 3/31,
2005 % 2004 2005
Operating Revenues 61,414 14.9 53,470 215,708
Operating Income 3,998 39.3 2,870 15,698
Ordinary Income 3,591 44.3 2,488 14,159
Net Income 1,680 0.0 1,680 6,730
Net Income per Share (yen) 40.37 39.45 160.64
Net Income per Share,
diluted (yen) -- -- --
(2) Consolidated Financial Position
(Millions of Yen)
As of June 30 As of March 31,
2005 2004 2005
Total Assets 149,996 132,193 134,629
Shareholders' Equity 60,985 54,950 60,116
Shareholders' Equity Ratio 40.7% 41.6% 44.7%
Shareholders' Equity
per Share (Yen) 1,465.28 1,319.26 1,443.30
(3) Consolidated Cash Flows
(Millions of Yen)
As of June 30, As of March 31,
2005 2004 2005
Cash Flows from
Operating Activities (283) (1,086) 8,364
Cash Flows from
Investing Activities 518 (672) (3,936)
Cash Flows from
Financing Activities 888 (1,523) (3,369)
Cash and Cash Equivalents,
End of term 20,170 14,540 19,035
(4) Consolidated Projections for the Full Year Ending March 31, 2006
(Millions of Yen)
Full Year Interim
Net Sales 250,000 126,000
Ordinary Income 14,900 7,200
Net Income 7,100 3,000
Net Income per Share (yen) 169.52 --
II. Summary Performance by Business Segment Consumer Products Operation: This segment saw marketing of seven new products (excluding nutritional supplement food products) in the spring, which contributed to sales growth. There were also strong trends in "Keshimi Cream" and nutritional supplement food products. As a result, sales of the Consumer Product Operation increased 1,589 million yen, or 7.7%, from the previous year to 22,207 million yen. On the other hand, the operating income was 4,051 million yen, an increase of 1,371 million yen or 51.2%, from the previous yearowing to the execution of the cost reduction in the cost of goods manufactured etc. in addition to the sales extension. The Company acquired the exclusive distributorship of "Inochi no Haha A" from Sasaoka Yakuhin (medicine) Corporation, and has sold the product since June. Wholesale Operation: Following the transfer on April 1 of Suzuken's general pharmaceutical wholesaling business, this segment's sales rose by 7,511 million yen, 22.4% over the previous year, to 41,007 million yen. But the effects of the integration were not fully reflected in operating results, and the operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. was 40 million yen, a decline of 6 million yen, or 17.6% compared to the previous year. The two subsidiaries KS Hokkaido and KS Tokai were consolidated in the first quarter. Medical Devices Operation: In the domestic market stress was placed on the cosmetic surgery cosmetic surgery, plastic surgery for cosmetic purposes, such as the improvement of the appearance of the face by removing wrinkles or reshaping the nose. domain, with its prospects for market expansion, and sales trended strongly. In the U.S., purchase of customer lists helped lock in customers, but the segment continued to feel the effects of changes in the California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). state insurance system (reduction of insurance refunds and others). As a result, sales increased by 4 million yen or 0.1%, compared with the previous year to 3,808 million yen, but an operating loss was 42 million yen declined by 136 million yen compared to the previous year. III. Changes in Financial Position Compared with the end of the previous fiscal year, Total assets increased by 15,367 million yen as compared with the end of the previous fiscal year, but shareholder equity rose by only 869 million yen, so the shareholder equity ratio declined by 4.0 points. The principal increases were a 9,397 million yen gain in current assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. (trade notes and accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying ) and 4,035 million yen in inventory assets due to consolidation of subsidiaries. Similarly, current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. (trade notes and accounts payable) increased by 13,280 million yen. Cash flows from operating activities: Cash used as a result of operating activities was 283 million. Although net income in the first quarter before tax and other adjustments was 3,142 million yen, corporate and other tax payments amounted to 2,988 million yen. Cash flows from investing activities: Net cash used in investing operations totaled 518 million yen. This is mainly due to the acquisition of tangible fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → was 165 million yen and of intangible fixed assets 347 million yen, but proceeds from transfer of goodwill came to 1,065 million yen. Cash flows from financing activities: Net cash used in financing activities totaled 888 million yen. There was 1,373 million yen in dividend and other payments, but a capital outlay capital outlay See capital expenditure. of 2,650 million yen for the Kobasho subsidiary. IV. Summary Driven by improved corporate earnings, a firmer floor for consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. and other factors, Japan's economy in the first quarter embarked on a slow recovery trend, but prospects for ongoing increases in crude oil prices and the like still maintained uncertainties about the future. In 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 , Kobayashi sought to fully cultivate cul·ti·vate tr.v. cul·ti·vat·ed, cul·ti·vat·ing, cul·ti·vates 1. a. To improve and prepare (land), as by plowing or fertilizing, for raising crops; till. b. the spirit in the Group concept of "creation and innovation, and development of customer needs by providing products and services to create new markets while striving for fresh added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
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