0703-3q en

January 30, 2007
Nihon Dempa Kogyo Co., Ltd.
3rd Quarter Consolidated Financial Results
Tokyo, January 30, 2007 – Nihon Dempa Kogyo Co., Ltd. today announced its consolidated business results for
the nine months ended December 31, 2006, the 3rd Quarter of the fiscal year ending March 31, 2007. The
following summary of the business results and the attached financial statements are unaudited and prepared in
accordance with Japanese GAAP.
1. Consolidated Financial Results for the Nine Months Ended December 31, 2006
(April 1, 2006 - December 31, 2006)
(Millions of Yen, Figures less than a million yen are omitted)
Nine months ended December 31,
(1) Results of Operations
Net sales
Operating income
Ordinary income
Net income
Earnings per share (Yen)
Earnings per share, diluted (Yen)
2006
54,869
7,355
6,664
3,806
191.10
181.55
2005
47,028
3,452
3,452
2,575
129.26
129.17
Year ended March 31,
Change
16.7%
113.0%
93.1%
47.8%
December 31,
(2) Financial Position
Total assets
Net Assets
Owners' equity to total assets
Owners' equity per share (Yen)
2006
88,647
48,327
54.4%
2,421.39
March 31,
2006
78,054
44,253
56.7%
2,221.40
2005
77,850
43,577
56.0%
2,187.40
Nine months ended December 31,
(3) Conditions of Cash Flows
Net cash provided by operating activities
Net cash used in investing activities
Net cash (used in)/provided by financing activities
Cash and cash equivalents at end of period
(4) Change in Scope of Consolidation
Consolidated subsidiaries
(addition) 0
Equity method companies
(addition) 0
2006
9,273
(8,222)
3,015
14,433
2006
63,642
5,270
5,183
3,257
163.52
163.26
2005
6,519
(4,594)
(2,331)
9,184
Year ended March 31,
2006
9,285
(6,177)
(2,613)
10,079
(exclusion) 1
(exclusion) 0
2. Forecast for the Fiscal Year Ending March 31, 2007 (April 1, 2006 - March 31, 2007)
Millions of Yen,
(1) Results of Operations
Year ending March 31, 2007
Net sales
71,000
Operating income
8,400
Ordinary income
8,000
Net income
4,600
Earnings per share (Yen)
230.92
Note: The estimates showing above are based on information available to the Company on the date of the
report's announcement. Due to the unforeseen circumstances, actual results may differ from such
estimates.
1
Consolidated Balance Sheets
January 30, 2007
Nihon Dempa Kogyo Co., Ltd.
(Millions of Yen, Figures less than a million yen are omitted)
December 31,
Composition
December 31,
Composition
March 31,
Composition
2006
%
2005
%
2006
%
ASSETS
Current assets:
Cash on hand and bank deposits
14,133
9,184
10,079
Trade receivables
19,809
16,843
16,822
300
-
-
Inventories
8,506
8,115
8,623
Others
2,949
2,819
3,259
(60)
(51)
(110)
Short-term investments
Allowances for doubtful receivables
Total current assets
45,639
51.5
36,911
47.4
38,674
49.5
Noncurrent assets:
Total property, plant and equipment, net
35,578
33,460
31,711
Total intangible assets
1,472
2,678
2,470
Total Investments and other assets
5,958
4,800
5,198
Total noncurrent assets
43,008
48.5
40,938
52.6
39,379
50.5
Total assets
88,647
100.0
77,850
100.0
78,054
100.0
2
Consolidated Balance Sheets
January 30, 2007
Nihon Dempa Kogyo Co., Ltd.
(Millions of Yen, Figures less than a million yen are omitted)
December 31,
Composition
December 31,
Composition
March 31,
Composition
2006
%
2005
%
2006
%
LIABILITIES AND EQUITY
Current liabilities:
Notes and accounts payable-trade
Short-term loans
6,524
6,156
5,928
720
6,670
6,704
Current portion of long-term debt
3,290
3,309
3,231
Others
7,994
5, 430
5,704
Total current liabilities
18,528
20.9
21,566
27.7
21,569
27.6
Noncurrent liabilities:
Convertible bonds
11,308
-
-
Long-term debt
7,699
9,889
9,417
Employee benefit obligations
Retirement allowance for directors and
statutory corporate auditors
Others
2,195
2,141
2,144
580
548
556
8
44
31
Total noncurrent liabilities
21,791
24.6
12,624
16.2
12,149
15.6
Total liabilities
40,319
45.5
34,191
43.9
33,718
43.2
-
-
81
0.1
83
0.1
Minority interests
Shareholders' equity:
Share capital
-
10,649
10,649
Capital surplus
-
10,634
10,634
Retained earnings
Fair value reserve for
available-for-sale investment securities
Foreign currency translation reserve
-
22,087
22,769
-
928
855
-
562
632
Treasury stock, at cost
-
(1,284)
(1,288)
Total shareholders' equity
Total liabilities, minority interests and
shareholders’ equity
Net assets:
-
-
43,577
56.0
44,253
56.7
-
-
77,850
100.0
78,054
100.0
Shareholders' equity
Share capital
10,649
-
-
Capital surplus
10,634
-
-
Retained earnings
26,118
-
-
Treasury stock, at cost
(1,295)
-
-
Total shareholders' equity
46,107
52.0
-
-
-
-
Fair value reserve,
translation reserve and others
Fair value reserve for
available-for-sale investment securities
Foreign currency translation reserve
Total fair value reserve,
translation reserve and others
Minority interests
722
-
-
1,403
-
-
2,126
2.4
-
-
-
-
94
0.1
-
-
-
-
Total net assets
48,327
54.5
-
-
-
-
Total liabilities and net assets
88,647
100.0
-
-
-
-
3
Consolidated Statements of Income
January 30, 2007
Nihon Dempa Kogyo Co., Ltd.
(Millions of Yen, Figures less than a million yen are omitted)
December 31,
Composition
December 31,
Composition
March 31,
Composition
2006
%
2005
%
2006
%
Cost of sales
54,869
39,141
100.0
71.3
47,028
35,341
100.0
75.1
63,642
47,448
100.0
74.6
Gross profit
15,728
28.7
11,686
24.9
16,194
25.4
Selling, general and administrative expenses
8,373
15.3
8,233
17.6
10,923
17.1
Operating income
7,355
13.4
3,452
7.3
5,270
8.3
221
911
0.4
1.7
281
282
0.6
0.6
330
417
0.5
0.7
Ordinary income
6,664
12.1
3,452
7.3
5,183
8.1
Extraordinary income
Extraordinary expenses
131
1,147
0.3
2.1
220
766
0.5
1.6
234
2,095
0.4
3.3
Income before income taxes
5,648
10.3
2,905
6.2
3,322
5.2
Current tax expenses
Minority interests
2,252
(416)
5
4.1
(0.7)
0.0
693
(362)
(0)
1.5
(0.8)
(0.0)
1,089
(1,025)
0
1.7
(1.6)
0.0
Net income
3,806
6.9
2,575
5.5
3,257
5.1
Net sales
Non-operating income
Non-operating expenses
Deferred tax expenses / (benefits)
4
Consolidated Statements of Cash Flows
January 30, 2007
Nihon Dempa Kogyo Co., Ltd.
(Millions of Yen, Figures less than a million yen are omitted)
December 31,
December 31,
March 31,
2006
2005
2006
Operating activities:
Income before income taxes
Depreciation and amortisation
Interest and dividend income
Interest expense
(Increase)/decrease in trade receivables
(Increase)/decrease in inventories
Increase/(decrease) in trade payables
Other, net
Sub-total
Interest and cash dividends received
Interest paid
Income taxes paid, net
Net cash provided by operating activities
5,648
5,284
(109)
126
(2,407)
276
165
1,380
2,905
5,162
(67)
167
159
(519)
241
508
3,322
7,054
(83)
204
(248)
(996)
8
2,037
10,363
8,556
11,298
86
67
83
(141)
(169)
(200)
(1,035)
(1,935)
(1,896)
9,273
6,519
9,285
Investing activities:
(7,512)
(4,638)
(6,056)
Purchase of investment securities
(506)
(306)
(408)
Other, net
(204)
350
286
(8,222)
(4,594)
(6,177)
(5,952)
(1,441)
(1,119)
Purchase of property, plant and equipment
Net cash used in investing activities
Financing activities:
Net decrease in short-term loans
Proceeds from long-term debt
1,000
3,400
3,600
Repayment of long-term debt
(2,659)
(4,009)
(4,759)
Proceeds from issuing convertible bonds
11,012
-
-
(386)
(281)
(333)
3,015
(2,331)
(2,613)
288
320
313
(85)
808
Cash and cash equivalents at beginning of year
4,354
10,079
9,270
9,270
Cash and cash equivalents at end of period
14,433
9,184
10,079
Other, net
Net cash (used in)/provided by financing activities
Net effect of currency translation on cash and cash equivalents
Net increase in cash and cash equivalents
5
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