OKI Announces Financial Results for the First Quarter of the Fiscal Year ending March 31, 2013 and Restates its Past Financial Results
TOKYO, September 14, 2012 -- Oki Electric Industry Co., Ltd. (TSE:6703) today announces its financial results for the first quarter (from April 1, 2012 to June 30, 2012) of the fiscal year ending March 31, 2013. The company also restates its past financial results from FY end. March 31, 2008 to FY end. March 31, 2012, based on the investigation report by outside experts, as annouced in "Notice on investigative Report Regarding Improper Accounting at an Overseas Consolidated Subsidiary" dated September 11.
Summary of the Consolidated Financial Results
Q1 of FY Mar. 31, 2013 | Q1 of FY Mar. 31, 2012 | Changes | <Projections> Full year end. FY Mar. 31, 2013 |
<Results> FY end. Mar. 31, 2012 |
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---|---|---|---|---|---|---|
Amount | Ratio | |||||
Billion yen | Billion yen | Billion yen | % | Billion yen | Billion yen | |
Net sales | 91.1 | 83.9 | 7.2 | 8.7 | 447.0 | 423.5 |
Operating income | -2.2 | -0.1 | -2.1 | — | 18.5 | 12.0 |
Recurring income | -3.3 | -0.8 | -2.5 | — | 15.5 | 9.1 |
Net income | -4.1 | -3.1 | -1.0 | — | 11.0 | 1.6 |
Yen | Yen | Yen | % | Yen | Yen | |
Net income per share | -5.61 | -4.24 | -1.37 | — | 13.64 | 0.32 |
Diluted net income per share | — | — | — | — | — | — |
Billion yen | Billion yen | Billion yen | % | Billion yen | Billion yen | |
Total assets | 353.7 | 356.6 | -2.9 | -0.8 | — | 368.1 |
Net assets | 38.5 | 34.7 | 3.8 | 10.8 | — | 41.3 |
% | % | % | % | % | ||
Shareholders' equity ratio | 10.8 | 9.9 | 0.9 | — | 11.2 | |
Billion yen | Billion yen | Billion yen | % | Billion yen | Billion yen | |
Cash flows from operating activities | -1.3 | 12.7 | -14.0 | — | 23.0 | 22.8 |
Cash flows from investing activities | -3.7 | -1.8 | -1.9 | — | -17.0 | -9.4 |
Free cash flows | -5.0 | 10.9 | -15.9 | 6.0 | 13.4 | |
Cash flows from financing activities | -0.4 | -0.9 | 0.5 | — | — | -17.5 |
- *Amounts are rounded to the nearest hundred million.
- *Full year projections for the fiscal year ending March 31, 2013 has been revised from the previous projections annouced on May 9, 2012
- *The projections and plans in this document are subject to change depending upon the changes of business environments and other conditions.
Impact amount on financial statements due to restatement (million yen)
Term | Item | Consolidated | Stand-alone | ||||
---|---|---|---|---|---|---|---|
Pre- restatement A |
Post- restatement B |
Amount C B - A | Pre- restatement A |
Post- restatement B |
Amount C B - A | ||
FY end. March 31, 2008 (1Q) | Net sales | 143,540 | 145,374 | 1,834 | |||
Operating income | -4,730 | -4,011 | 719 | ||||
Recurring income | -5,361 | -4,641 | 720 | ||||
Net income (1Q) | -8,014 | -7,269 | 745 | ||||
Total assets | 598,353 | 606,531 | 8,178 | ||||
Net assets | 108,811 | 98,998 | -9,813 | ||||
FY end. March 31, 2008 (1H) | Net sales | 327,635 | 327,697 | 62 | 182,938 | 182,920 | -18 |
Operating income | -7,071 | -7,961 | -890 | -13,176 | -13,171 | 5 | |
Recurring income | -11,021 | -11,911 | -890 | -11,331 | -11,326 | 5 | |
Net income (1H) | -12,482 | -13,588 | -1,106 | -10,351 | -12,076 | -1,725 | |
Total assets | 590,837 | 596,903 | 6,066 | 443,151 | 432,086 | -11,065 | |
Net assets | 100,453 | 88,964 | -11,489 | 95,227 | 79,598 | -15,629 | |
FY end. March 31, 2008 (9 months) | Net sales | 487,287 | 487,727 | 440 | |||
Operating income | -3,144 | -3,617 | -473 | ||||
Recurring income | -8,987 | -9,460 | -473 | ||||
Net income (9 months) | -13,545 | -14,187 | -642 | ||||
Total assets | 591,885 | 600,141 | 8,256 | ||||
Net assets | 96,999 | 85,758 | -11,241 | ||||
FY end. March 31, 2008 (full year) | Net sales | 719,677 | 719,756 | 79 | 408,840 | 408,787 | -53 |
Operating income | 6,200 | 5,385 | -815 | -12,980 | -13,003 | -23 | |
Recurring income | -3,887 | -4,702 | -815 | -11,869 | -11,892 | -23 | |
Net income (full year) | 567 | -313 | -880 | -1,729 | 1,078 | 2,807 | |
Total assets | 570,819 | 574,371 | 3,552 | 426,071 | 414,975 | -11,096 | |
Net assets | 101,376 | 90,138 | -11,238 | 93,702 | 82,606 | -11,096 | |
FY end. March 31, 2009 (1Q) | Net sales | 125,252 | 126,565 | 1,313 | |||
Operating income | -6,531 | -4,252 | 2,279 | ||||
Recurring income | -6,431 | -4,152 | 2,279 | ||||
Net income (1Q) | -22,211 | -19,785 | 2,426 | ||||
Total assets | 531,213 | 541,932 | 10,719 | ||||
Net assets | 78,745 | 69,666 | -9,079 | ||||
FY end. March 31, 2009 (1H) | Net sales | 286,882 | 287,062 | 180 | |||
Operating income | -10,575 | -9,954 | 621 | ||||
Recurring income | -13,334 | -12,713 | 621 | ||||
Net income (1H) | -35,343 | -34,679 | 664 | ||||
Total assets | 515,804 | 523,886 | 8,082 | ||||
Net assets | 63,118 | 53,432 | -9,686 | ||||
FY end. March 31, 2009 (9 months) | Net sales | 396,234 | 395,670 | -564 | |||
Operating income | -8,711 | -8,466 | 245 | ||||
Recurring income | -13,633 | -13,387 | 246 | ||||
Net income (9 months) | -48,140 | -47,977 | 163 | ||||
Total assets | 400,902 | 406,172 | 5,270 | ||||
Net assets | 57,063 | 48,310 | -8,753 | ||||
FY end. March 31, 2009 (full year) | Net sales | 545,680 | 544,529 | -1,151 | 271,108 | 271,161 | 53 |
Operating income | 410 | -629 | -1,039 | -8,527 | -8,599 | -72 | |
Recurring income | -6,189 | -7,228 | -1,039 | -8,136 | -8,208 | -72 | |
Net income (full year) | -45,011 | -46,188 | -1,177 | -35,179 | -35,891 | -712 | |
Total assets | 396,963 | 398,188 | 1,225 | 285,151 | 274,078 | -11,073 | |
Net assets | 58,683 | 48,408 | -10,275 | 57,405 | 45,597 | -11,808 | |
FY end. March 31, 2010 (1Q) | Net sales | 82,621 | 81,780 | -841 | |||
Operating income | -3,142 | -4,307 | -1,165 | ||||
Recurring income | -5,037 | -6,226 | -1,189 | ||||
Net income (1Q) | -6,685 | -8,032 | -1,347 | ||||
Total assets | 360,382 | 362,328 | 1,946 | ||||
Net assets | 55,260 | 43,114 | -12,146 | ||||
FY end. March 31, 2010 (1H) | Net sales | 188,998 | 189,332 | 334 | |||
Operating income | -1,645 | -3,331 | -1,686 | ||||
Recurring income | -4,716 | -6,402 | -1,686 | ||||
Net income (1H) | -6,990 | -8,641 | -1,651 | ||||
Total assets | 365,414 | 367,680 | 2,266 | ||||
Net assets | 54,708 | 42,620 | -12,088 | ||||
FY end. March 31, 2010 (9 months) | Net sales | 288,893 | 288,576 | -317 | |||
Operating income | 1,137 | -675 | -1,812 | ||||
Recurring income | -3,057 | -4,870 | -1,813 | ||||
Net income (9 months) | -8,745 | -10,530 | -1,785 | ||||
Total assets | 371,048 | 371,575 | 527 | ||||
Net assets | 52,630 | 40,385 | -12,245 | ||||
FY end. March 31, 2010 (full year) | Net sales | 443,949 | 442,949 | -1,000 | 200,530 | 200,530 | — |
Operating income | 13,957 | 6,508 | -7,449 | 3,537 | 3,537 | — | |
Recurring income | 8,768 | 1,320 | -7,448 | 5,104 | 5,104 | — | |
Net income (full year) | 3,619 | -3,836 | -7,455 | 2,711 | -5,198 | -7,909 | |
Total assets | 383,640 | 377,894 | -5,746 | 276,008 | 264,935 | -11,073 | |
Net assets | 64,810 | 47,607 | -17,203 | 62,284 | 42,567 | -19,717 | |
FY end. March 31, 2011 (1Q) | Net sales | 82,525 | 83,600 | 1,075 | |||
Operating income | -7,812 | -6,876 | 936 | ||||
Recurring income | -9,055 | -8,102 | 953 | ||||
Net income (1Q) | -10,487 | -9,445 | 1,042 | ||||
Total assets | 365,016 | 362,244 | -2,772 | ||||
Net assets | 51,336 | 37,486 | -13,850 | ||||
FY end. March 31, 2011 (1H) | Net sales | 185,888 | 186,379 | 491 | |||
Operating income | -5,734 | -5,090 | 644 | ||||
Recurring income | -7,904 | -7,259 | 645 | ||||
Net income (1H) | -11,746 | -11,120 | 626 | ||||
Total assets | 356,891 | 353,876 | -3,015 | ||||
Net assets | 48,380 | 33,293 | -15,087 | ||||
FY end. March 31, 2011 (9 months) | Net sales | 284,756 | 283,689 | -1,067 | |||
Operating income | -4,980 | -5,130 | -150 | ||||
Recurring income | -10,039 | -10,189 | -150 | ||||
Net income (9 months) | -18,332 | -18,710 | -378 | ||||
Total assets | 380,325 | 377,504 | -2,821 | ||||
Net assets | 73,193 | 57,983 | -15,210 | ||||
FY end. March 31, 2011(full year) | Net sales | 432,685 | 432,651 | -34 | 189,929 | 189,929 | — |
Operating income | 11,049 | 6,308 | -4,741 | 4,602 | 4,625 | 23 | |
Recurring income | 5,906 | 1,166 | -4,740 | 3,883 | 3,906 | 23 | |
Net income (full year) | -27,001 | -31,809 | -4,808 | -29,060 | -25,729 | 3,331 | |
Total assets | 372,192 | 368,822 | -3,370 | 276,950 | 271,231 | -5,719 | |
Net assets | 59,903 | 38,859 | -21,044 | 62,754 | 46,367 | -16,387 | |
FY end. March 31, 2012 (1Q) | Net sales | 83,767 | 83,892 | 125 | |||
Operating income | -341 | -105 | 236 | ||||
Recurring income | -947 | -782 | 165 | ||||
Net income (1Q) | -3,240 | -3,101 | 139 | ||||
Total assets | 359,532 | 356,564 | -2,968 | ||||
Net assets | 55,525 | 34,747 | -20,778 | ||||
FY end. March 31, 2012 (1H) | Net sales | 188,429 | 186,268 | -2,161 | |||
Operating income | 1,472 | -2,893 | -4,365 | ||||
Recurring income | -856 | -5,222 | -4,366 | ||||
Net income (1H) | -5,000 | -9,660 | -4,660 | ||||
Total assets | 350,437 | 348,040 | -2,397 | ||||
Net assets | 53,609 | 30,473 | -23,136 | ||||
FY end. March 31, 2012 (9 months) | Net sales | 293,379 | 288,035 | -5,344 | |||
Operating income | 6,938 | 2,977 | -3,961 | ||||
Recurring income | 3,925 | 355 | -3,570 | ||||
Net income (9 months) | -6,295 | -10,599 | -4,304 | ||||
Total assets | 339,617 | 336,852 | -2,765 | ||||
Net assets | 52,053 | 30,018 | -22,035 | ||||
FY end. March 31, 2012 (full year) | Net sales | 428,104 | 423,480 | -4,624 | 205,078 | 205,078 | — |
Operating income | 17,415 | 11,980 | -5,435 | 6,346 | 6,323 | -23 | |
Recurring income | 14,550 | 9,075 | -5,475 | 6,691 | 6,668 | -23 | |
Net income (full year) | 8,000 | 1,555 | -6,445 | 5,159 | 3,395 | -1,764 | |
Total assets | 374,829 | 368,065 | -6,764 | 292,460 | 292,460 | — | |
Net assets | 67,524 | 41,251 | -26,273 | 68,048 | 49,897 | -18,151 |
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- *Information in the press releases is current on the date of the press announcement, but is subject to change without prior notice.