Universal Studios Japan (USJ) Announces Financial Results for the First Quarter; Sales, Ordinary, Operating and Net Income all Rise.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Aug 7, 2007 - (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) - USJ USJ Universitê Saint-Joseph (Beirut, Lebanon) USJ Universal Studios Japan USJ Ultra Shallow Junction (semiconductor measurement) USJ Universiti Subang Jaya Co., Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 2142; 'Universal Studios Japan') has announced financial results for the first quarter ended June 30, 2007. The Company recorded sales of JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 16,825 million, up 7.9% on the previous first quarter ("previous term"), 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. of JPY 1,633 million, up 348.1% on the previous term, ordinary income of JPY 1,614 million, up from a loss of JPY 197 million in the previous term, and net profit of JPY 1,609 million, up from a loss of JPY 514 million in the previous term. Universal Studios Japan Universal Studios Japan (ユニバーサル・スタジオ・ジャパン started its 6th year of operation this April with an annual theme "Dream", under which the Company offers new types of world-class entertainment one after another to make the visitors feel their dreams and aspirations aspirations npl → aspiraciones fpl (= ambition); ambición f aspirations npl (= hopes, ambition) → aspirations fpl come true. Various attractions and shows will be enhanced to make the park a place of special memory. In this quarter, a new sensation roller roller, common name for brightly colored Old World birds noted for performing somersaults in flight. They include the rollers proper (subfamily Coraciinae) and ground rollers (subfamily Brachypteraciinae coaster What a bad CD-R disc is often called. See CD-R and underrun. "Hollywood Dream The Ride", opened in March 2007, continued drawing a large number of guests, proving to be an extremely successful and popular attraction. Two movie-related special events were held for a limited period; "Spider-Man 3 Movie Festival" from April 19 to July 1, 2007, and "Shrek 3 Special Event" from June 7 to August 31, 2007. Marketing and sales efforts continued focusing on Greater Kansai area (Ishikawa, Fukui, Gifu, Mie, Aichi, Okayama, Hiroshima, Tokushima and Kagawa) with enhanced advertising and sales initiatives to drive visitors from these prefectures. In order to raise the awareness of the park in Asian markets, an overseas sales office was opened in Bangkok Bangkok (băng`kŏk'), Thai Krung Thep, city (1990 pop. 8,538,610), capital of Thailand and of Bangkok prov., SW Thailand, on the east bank of the Chao Phraya River, near the Gulf of Thailand. , Thailand, in addition to the ones in Korea, Taiwan and Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. . The Company will continue working closely with local travel agencies and transportation carriers in Asia to implement measures to increase international visitors. As a result of above-mentioned measures, the attendance in the first quarter exceeded that of the same period of the previous year. Although the attendance during the Golden Week Holiday period (April 28 to May 6, 2007) was affected by unfavorable weather conditions, total number of visitors in the quarter was greater than that of the previous year. In the second quarter, a summer-only event "Universal Water Parade" will be offered from July 12 to September 2, 2007, and a new attraction "Magical Oz Go-Round" will be opened as the first carousel in the park. Such initiatives as these continue to meet the needs of the core target segments i.e. female and families with children. Sales increases in the term reflected greater attendance, the effect of ticket price raise implemented in July 2006, and the strong sales of attraction priority access tickets. Operating Income grew dramatically as the ratio of cost of goods sold Cost of goods sold The total cost of buying raw materials, and paying for all the factors that go into producing finished goods. cost of goods sold was improved, and the aggregate amount of cost of sales and selling, general and administrative expenses remained almost same as the previous year with the reduced entertainment production cost and the smaller depreciation expenses due to progress of depreciation period. Ordinary income improved due to foreign exchange gain recorded for this first quarter and reduction of interest payment. Net income increased due to reduction of loss on disposal of fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → . While the Company outperformed its plan in the first quarter, the Company maintains its forecast for the full fiscal year ending March 2008 it had previously announced given the seasonal nature of the theme park business. I. Summary of Consolidated Results
(millions of yen)
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1. Operating results
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Q1 2007 Y/Y% Q1 2006 FY 2006
Net sales 16,825 7.9% 15,590 72,062
Operating profit 1,633 348.1% 364 7,283
Ordinary profit 1,614 -- (197) 5,273
Net income 1,609 -- (514) 3,793
Net income per share(y) 747.55 (269.29) 1,973.91
Diluted net income
per share(y) 743.20 -- 1,938.13
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2. Financial position
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As of June 2007 June 2006 March 2007
Total assets 124,792 132,516 129,937
Net assets 44,954 28,159 42,995
Net worth/total assets 36.0% 21.3% 33.1%
Net worth per share(y) 20,824.65 12,870.53 20,061.69
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3. Cash flows
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Q1 2007 Q1 2006 FY 2006
Cash flows from
operating activities 1,118 223 17,696
Cash flows from
investing activities (2,860) (6,880) (7,010)
Cash flows from
financing activities (1,849) (5,405) (16,131)
Cash and cash equivalents
at end of period 18,360 15,109 21,920
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Cash Dividends (Cash dividends per share)
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Fiscal year Interim Year End Total Annual
FY 3/31/2007 -- -- 0.00
FY 3/31/2008 (forecast) 750.00 750.00 1,500.00
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Financial Position Assets: Total assets as of June 30,2007 were JPY 124,792 million, decreased by JPY 5,144 million from the end of the previous fiscal year. 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. were JPY 24,592 million, decreased by JPY 2,001 million from the end of the previous fiscal year due to reduction of cash and deposits by JPY 1,296 million as a result of repayment of current portion of long-term debt Current Portion Of Long-Term Debt A portion of the balance sheet that represents the total amount of long-term debt that must be paid within the next year. The balance sheet has a liability section, which is broken down into long-term and current debt. . Fixed assets were JPY 100,191 million, decreased by JPY 3,140 million from the end of the previous fiscal year due to progress of depreciation of theme park facilities. Liabilities: Total liabilities as of June 30, 2007 were JPY 79,838 million, decreased by JPY 7,103 million from the end of the previous fiscal year. 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. were JPY 20,907 million, decreased by JPY 4,748 million from the end of previous fiscal year. This was due to decrease of advances from customers, mainly composed of Partnership fees and Annual pass fees, by JPY 2,324 million as they were recognized as revenue appropriately based on each accrued ac·crue v. ac·crued, ac·cru·ing, ac·crues v.intr. 1. To come to one as a gain, addition, or increment: interest accruing in my savings account. 2. period. Long-term liabilities Long-Term Liabilities Recorded on the balance sheet, a company's liabilities for leases, bond repayments and other items due in more than one year. Notes: A company's long-term liabilities are accounted for by its debt obligations to other parties which last longer than were JPY 58,930 million, decreased by JPY 2,355 million from the end of the previous fiscal year. It was primarily due to decrease of long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. by JPY 1,750 reclassified as current portion of long-term debt. Net Assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. : Total net assets as of June 30, 2007 were JPY 44,954 million, increased by JPY 1,958 million from the end of the previous fiscal year. It was mainly due to increase of retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. by JPY 1,609 million as a result of the net income recorded for the first quarter ended June 30, 2007. Cash Flows Cash and cash equivalents (hereinafter here·in·af·ter adv. In a following part of this document, statement, or book. hereinafter Adverb Formal or law from this point on in this document, matter, or case Adv. 1. , "cash") as of June30, 2007 were JPY 18,360 million, JPY 3,559 million down from the end of the previous fiscal year. This reflects JPY 1,118 million provided by operating activities, JPY 2,860 million used in investing activities, JPY 1,849 million used in financing activities. Cash flows from operating activities: Net cash provided by operating activities was JPY 1,118 million, up by 894 million or 399.6% compared with the same period previous fiscal year. It was achieved by recording the quarterly net income and reduction of interest. Cash flows from investing activities: Net cash used in investing activities were JPY 2,860 million, down by JPY 4,020 million or 58.4% compared with the same period previous fiscal year. This reflects decrease of outflow deposits into term deposit accounts. Forecast for the Full Year ending March 31, 2008
(Millions of yen)
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Interim % Full year %
Net sales 37,100 5.1 73,000 1.3
Operating profit 4,600 39.4 8,000 9.8
Ordinary profit 3,600 50.8 6,000 13.8
Net income 3,400 143.0 5,500 45.0
Net income per share(y) 1,575.02 2,547.82
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About USJ Co., Ltd. USJ Co., Ltd. (TSE: 2142), headquartered in Osaka, Japan, is engaged in the operation and related businesses of Universal Studios Japan theme park. Universal Studios Japan is a theme park focusing on movies and characters from Hollywood. The theme park offers various entertainments including parades, shows, events, as well as rides and interactive attractions. It sells merchandises in stores located mainly in the theme park, as well as foods and beverages in restaurants located in the theme park. For more information, please visit www.usj.co.jp. Source: USJ Co., Ltd. Contact: USJ Co., Ltd. Corporate Communications and Investor Relations Mieko Toyama Tel. +81-6-6465-3134 Email: Mieko_Toyama@usjc.co.jp Japan Corporate News Network. All rights reserved. |
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