Consolidated Financial Statements
for the Third Quarter Ended December 31, 2012
January 29, 2013
Stock Listings: Tokyo, Osaka
Registered Company Name: Hitachi Kokusai Electric Inc.
Code No: 6756
URL: http://www.hitachi-kokusai.co.jp/global/
Representative: Manabu Shinomoto, President, CEO and Director
Contact: Akira Horiuchi, General Manager of Strategic Planning & Communication Center Scheduled date of filing of quarterly report: February 13, 2013
Planned Start Date for Dividend Payments: －
Preparation of supplementary material for quarterly financial results: Yes
Holding of quarterly financial results meeting: Yes (for analysts and institutional investors)
Telephone: +81 (0)3-6734-9401
(All figures are rounded off to the nearest million yen)
1. Consolidated Financial Results (For the nine months ended December 31, 2012)
(1) Consolidated Results of Operations
(Percentages indicate percentage increase or decrease year-on-year)
Net Sales
Operating Income
Million Yen
90,611
93,746
%
(22.1)
(1.5)
(Note) Comprehensive Income 3Q of FY2012 (1,597) Million Yen （－%）
3Q of FY 2012
3Q of FY 2011
%
(3.3)
(4.4)
Ordinary Income
Net Income
per Share
Million Yen
1,388
1,782
%
(23.5)
(5.0)
Million Yen
%
－
(3,019)
－
(821)
3Q of FY2011 (1,548) Million Yen （－%）
Diluted Net Income
per Share
Yen
(29.37)
(7.98)
3Q of FY2012
3Q of FY2011
Million Yen
1,524
1,991
Net Income
Yen
－
－
(2) Consolidated Financial Position
Total Assets
Total Net Assets
Million Yen
131,831
152,065
3Q of FY2012
FY2011
(Note) Stockholder's equity
Million Yen
74,803
78,243
3Q of FY2012 71,038 Million Yen
Net Assets per share
Equity Ratio
%
53.9
49.1
FY2011
Yen
691.09
726.75
74,716 Million Yen
2. Dividends
1st Quarter
2nd Quarter
Yen
FY2011
FY2012
FY2012 (Forecast)
－
－
Dividend per Share
3rd Quarter
Yen
4.00
4.00
4th Quarter
Yen
－
－
Total
Yen
8.00
Yen
12.00
8.00
12.00
(Note) Revision of the latest dividend forecast: No
3. Consolidated Financial Forecast for FY2012 (From April 1, 2012 to March 31, 2013)
(Percentages indicate percentage increase or decrease year-on-year)
Net Sales
FY2012
Million Yen
135,000
Operating Income
% Million Yen
(8.3)
5,000
Ordinary Income
% Million Yen
(39.9)
5,000
(Note) Revision on the latest consolidated financial forecast: Yes
-1-
Net Income
per Share
Net Income
% Million Yen
(42.1)
5,500
%
7.4
Yen
53.51
Notes
(1) Changes to significant subsidiaries during the term (changes in specified subsidiaries due to changes in scope)
: No
(2) Application of special accounting methods in the preparation of quarterly consolidated financial statements
: Yes
(3) Changes in accounting policies, accounting estimates and restatement of corrections
[1] Changes due to changes in accounting standards
: No
[2] Changes other than [1] above
: Yes
[3] Changes in accounting estimates
: Yes
[4] Restatement
: No
(Note) Starting from April 1, 2012 the Company and domestic consolidated subsidiaries changed the depreciation method
for property, plant and equipment from the declining balance method to the straight line method.
(4) Number of shares issued (common stock)
[1] Number of shares at end of period
(Including treasury stock)
[2] Number of treasury stock at end
of period
[3] Average number of shares during the
period (Quarterly Cumulative Total)
3Q of FY2012
105,221,259 shares FY2011
105,221,259 shares
3Q of FY2012
2,429,832 shares FY2011
2,413,291 shares
3Q of FY2012
102,798,725 shares 3Q of FY2011
102,820,349 shares
(Notes)
Information regarding the implementation of quarterly review procedure
This quarterly financial report is exempt from the quarterly review procedure based upon the Financial Instruments and Exchange
Act. It is under the review procedure process at the time of disclosure of this report.
Explanation on the appropriate use of financial forecasts and other important items
The forecasts figures are based on information currently available to the Company and certain assumptions deemed to be reasonable.
This material does not represent promises or guarantees regarding the forecasts and due to various factors, actual results may vary
significantly from these forecasts.
This document has been translated from the Japanese original for reference purpose only. With respect to any
differences between the English translation and the Japanese original, the Japanese version takes
precedence. The translations of Japanese Yen amounts into U.S. Dollar amounts are included solely for the
convenience of readers and have been made at the rate of 86.58Yen to U.S.$1, the rate of exchange at
December 28, 2012.
-2-
HITACHI KOKUSAI ELECTRIC INC.
CONSOLIDATED FINANCIAL STATEMENTS
(Translation)
Consolidated Balance Sheets (Unaudited)
December 31, 2012 and March 31, 2012
Millions of Yen
FY2011
3Q of FY2012
Assets
Current assets
Cash and deposits
Deposits with Hitachi, Ltd.
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets
12,001
32,741
39,705
11,985
10,944
6,059
5,103
2,516
(110)
120,944
10,379
17,466
34,361
11,795
15,617
6,030
5,449
2,755
(99)
103,753
120
202
397
136
180
70
63
32
(1)
1,198
10,878
2,695
6,156
564
1,155
21,448
9,231
2,879
6,014
516
1,324
19,964
107
33
69
6
15
231
3,090
2,136
5,226
1,265
1,823
3,088
15
21
36
1,348
143
1,233
1,975
(252)
4,447
31,121
152,065
-3-
Millions of
U.S. Dollars
3Q of FY2012
1,371
150
1,128
2,610
(233)
5,026
28,078
131,831
16
2
13
30
(3)
58
324
1,523
HITACHI KOKUSAI ELECTRIC INC.
CONSOLIDATED FINANCIAL STATEMENTS
(Translation)
Consolidated Balance Sheets (Unaudited)
December 31, 2012 and March 31, 2012
Millions of Yen
FY2011
3Q of FY2012
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Income taxes payable
Accrued expenses
Provision for product warranties
Provision for loss on construction contracts
Notes payable-facilities
Other
Total current liabilities
Noncurrent liabilities
Long-term loans payable
Provision for retirement benefits
Provision for directors' retirement benefits
Asset retirement obligations
Deferred tax liabilities
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Minority interests
Total net assets
Total liabilities and net assets
-4-
Millions of
U.S. Dollars
3Q of FY2012
30,980
554
784
10,250
1,712
6
10
6,304
50,600
20,797
545
397
5,855
999
4
3
7,403
36,003
240
6
5
68
12
0
0
86
416
218
19,312
179
135
398
2,980
23,222
73,822
212
18,828
159
79
261
1,486
21,025
57,028
2
217
2
1
3
17
243
659
10,058
26,203
43,218
(2,606)
76,872
10,058
26,202
38,934
(2,616)
72,578
116
303
450
(30)
838
61
(2,217)
(2,156)
3,527
78,243
152,065
65
(1,605)
(1,540)
3,765
74,803
131,831
1
(19)
(18)
43
864
1,523
HITACHI KOKUSAI ELECTRIC INC.
CONSOLIDATED FINANCIAL STATEMENTS
(Translation)
Consolidated Quarterly Statements of Operations (Unaudited)
For the nine months ended December 31, 2012 and 2011
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Reversal of allowance for doubtful accounts
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on valuation of inventories
Loss on disposal of noncurrent assets
Foreign exchange losses
Maintenance cost for idle assets
Other
Total non-operating expenses
Ordinary income
Extraordinary loss
Business structure improvement expenses
Loss on sales of subsidiaries' stocks
Loss on sales of noncurrent assets
Impairment of goodwill
Total extraordinary losses
Income (loss) before income taxes and minority interests
Income taxes
Loss before minority interests
Minority interests in income
Net loss
Millions of Yen
3Q of FY2011
3Q of FY2012
93,746
90,611
68,750
66,444
24,996
24,167
23,214
22,779
1,782
1,388
-5-
Millions of
U.S. Dollars
3Q of FY2012
1,047
767
279
263
16
104
98
235
99
296
832
111
71
－
71
178
431
1
1
－
1
2
5
27
147
46
156
95
152
623
1,991
16
－
33
－
92
154
295
1,524
0
－
0
－
1
2
3
18
－
112
－
－
112
1,879
2,253
(374)
447
(821)
2,405
－
180
1,155
3,740
(2,216)
483
(2,699)
320
(3,019)
28
－
2
13
43
(26)
6
(31)
4
(35)
HITACHI KOKUSAI ELECTRIC INC.
CONSOLIDATED FINANCIAL STATEMENTS
(Translation)
Consolidated Quarterly Statements of Cash Flows (Unaudited)
For the nine months ended December 31, 2012 and 2011
Millions of
U.S. Dollars
3Q of FY2012
Millions of Yen
3Q of FY2011
Net cash provided by (used in) operating activities
Income (loss) before income taxes and minority interests
Depreciation and amortization
Impairment of goodwill
Business structure improvement expenses
Increase (decrease) in provision for retirement benefits
Increase (decrease) in provision for directors' retirement benefits
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for loss on construction contracts
Interest and dividends income
Interest expenses
Loss (gain) on disposal of noncurrent assets
Loss (gain) on sales of noncurrent assets
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in notes and accounts payable-trade
Increase (decrease) in accrued consumption taxes
Increase (decrease) in other current liabilities
Othe net
Other,
et
Subtotal
Interest and dividends income received
Interest expenses paid
Income taxes paid
Income taxes refund
Payments for extra retirement payments
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of investments in subsidiaries
Purchase of intangible assets
Purchase of investments in subsidiaries resulting in change in
scope of consolidation
Decrease (increase) in short-term loans receivable
Decrease (increase) in other investments
Purchase of long-term prepaid expenses
Other, net
Net cash provided by (used in) investing activities
Net cash provided by (used in) financing activities
Cash dividends paid
Repayment of long-term loans payable
Cash dividends paid to minority shareholders
Decrease (increase) in treasury stock
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
-6-
3Q of FY2012
1,879
2,360
－
－
(253)
(71)
(706)
(2,216)
2,328
1,155
1,348
(497)
(20)
(720)
(26)
27
13
16
(6)
(0)
(8)
(236)
(3)
(0)
(197)
27
39
(63)
14,836
(5,850)
135
(4,852)
302
(5,632)
713
2,431
198
(26)
(1,709)
155
(1,244)
(195)
(176)
16
33
169
5,566
(4,443)
850
(10,264)
(924)
(3,711)
455
(11,054)
173
(15)
(1,336)
243
(1,759)
(13,748)
(2)
0
0
2
64
(51)
10
(119)
(11)
(43)
5
(128)
2
(0)
(15)
3
(20)
(159)
(9)
187
(2)
150
(1,834)
122
－
(336)
(9)
630
(2)
3
(1,723)
1,012
(36)
(344)
(0)
7
(0)
0
(20)
12
(0)
(4)
(3,384)
－
－
48
134
－
(106)
(5,030)
16
148
(1,074)
2
(1,377)
0
2
(12)
0
(16)
(1,024)
(308)
(211)
(10)
(105)
(1,658)
(632)
(7,515)
44,629
37,114
(1,231)
－
(342)
(10)
(17)
(1,600)
473
(16,252)
43,989
27,737
(14)
－
(4)
(0)
(0)
(18)
5
(188)
508
320
January 29, 2013
Hitachi Kokusai Electric Inc.
Supplementary information for the third quarter ended December 31, 2012 (Consolidated basis)
1. Summary
(Millions of yen)
Fiscal 2011
2nd half
1st half
(A)
Orders received
Net sales
Operating income (loss)
Ordinary income (loss)
Net income (loss)
79,425
65,506
1,947
2,144
912
3Q
（B）
35,676
28,240
(165)
(153)
(1,690)
（C）
Fiscal 2012
1st half
Total
(D)
74,028 153,453
81,678 147,184
6,367
8,314
6,492
8,636
4,208
5,120
Results
(E)
3Q
(F)/(B)
Results
%
(F)
90
28,518
80
93
29,680
105
35
707
－
30
889
－
－ (1,446)
－
(E)/(A)
71,521
60,931
681
635
(1,573)
2nd half
Previous Revised
Forecast Forecast
(G)
(H)
63,479
63,479
74,069
74,069
4,319
4,319
3,865
4,365
7,073
7,073
(H)/(G)
100
100
100
113
100
Total
Previous Revised
(H)/(C) Forecast Forecast
(J)/(I)
(I)
(J)
86 135,000 135,000
100
91 135,000 135,000
100
68
5,000
5,000
100
67
4,500
5,000
111
168
5,500
5,500
100
2. Industry segment
88
92
60
58
107
(Millions of yen)
Fiscal 2011
2nd half
1st half
(A)
Video and wireless network
Orders received
Net sales
Operating income (loss)
Eco- and thin film processing
Orders received
Net sales
Operating income
Eliminations/Corporate
Orders received
Net sales
Operating income (loss)
Total
Orders received
Net sales
sa es
Net
Operating income (loss)
(J)/(D)
3Q
（B）
Fiscal 2012
1st half
（C）
Total
(D)
Results
(E)
(E)/(A)
3Q
Results
(F)
(F)/(B)
%
2nd half
Previous Revised
Forecast Forecast
(G)
(H)
(H)/(G)
(H)/(C)
Total
Previous Revised
(J)/(I)
Forecast Forecast
(I)
(J)
(J)/(D)
47,890
29,460
(3,336)
19,748
14,616
(1,759)
44,695
51,669
3,638
92,585
81,129
302
47,090
33,426
(1,810)
98
113
－
16,353
18,860
272
83
129
－
39,910
51,574
4,310
39,910
51,574
4,310
100
100
100
89
100
118
87,000
85,000
2,500
87,000
85,000
2,500
100
100
100
94
105
828
31,169
35,655
5,822
15,759
13,458
1,363
29,006
29,675
2,471
60,175
65,330
8,293
24,076
27,176
2,175
77
76
37
11,970
10,603
573
76
79
42
22,924
21,824
325
22,924
21,824
325
100
100
100
79
74
13
47,000
49,000
2,500
47,000
49,000
2,500
100
100
100
78
75
30
169
166
231
327
334
258
355
329
316
97
84
－
100
100
－
197
201
－
1,000
1,000
0
1,000
1,000
0
100
100
－
144
138
－
71,521
60,93
60,931
681
90
93
35
100
100
00
100
86
991
68
135,000
135,000
35,000
5,000
135,000
135,000
35,000
5,000
100
100
00
100
88
992
60
366
391
(539)
79,425
65,506
1,947
35,676
28,240
8, 0
(165)
693
725
(281)
74,028 153,453
881,678
,678 147,184
7, 8
6,367
8,314
Note: Previous Forecast: Announced on October 29, 2012
195
217
(138)
28,518
29,680
9,680
707
-7-
115
131
－
80
105
05
－
645
671
(316)
63,479
774,069
,069
4,319
645
671
(316)
63,479
774,069
,069
4,319