Kobayashi Pharmaceutical Reports Financial Results for the First Quarter Ended June 30, 2008Friday August 8 9:48 PMKobashou Co., Ltd., which was responsible for wholesale operations, became a wholly-owned subsidiary of Mediceo Paltac Holdings through a stock swap on January 2008. Kobashou's earnings were not included in consolidated figures for the affiliated companies doing wholesale operations starting in the fourth quarter ended in March 2008. As a result, sales figures for the first quarter ended June 30, 2008, likewise, fell 34,288 million yen (-54.6%) year on year to 28,488 million yen, operating income fell 15 million yen (-0.4%) year on year to 3,767 million yen. Ordinary income, however, increased 525 million yen (16.7%) year on year to 3,673 million yen, and net income expanded 224 million yen (9.4%) year on year to 2,603 million yen. Operating income fell year on year because of factors that impacted the cost of sales and changes to the accounting treatment of inventory valuations and losses on the valuation and disposal of inventories following the application of the Accounting for Inventory Valuations accounting standard starting this fiscal year.
(1) Consolidated Operating Results
------------------------------------------------------------------------
(Millions of Yen)
April 1 - June 30, 2008 % 2007 %
------------------------------------------------------------------------
Net Sales 28,488 - 62,777 0.2
Operating Income 3,767 - 3,783 4.8
Ordinary Income 3,673 - 3,148 1.3
Net Income 2,603 - 2,378 (2.1)
Net Income per Share (Yen) 63.20 57.53
Net Income per Share, diluted (Yen) 63.18 57.45
------------------------------------------------------------------------
(2) Consolidated Financial Position
------------------------------------------------------------------------
(Millions of Yen)
As of June 30, 2008 2007
------------------------------------------------------------------------
Total Assets 121,495 122,409
Shareholders' Equity 76,742 77,182
Shareholders' Equity Ratio 63.1% 63.0%
Shareholders' Equity per Share (Yen) 1,871.70 1,863.24
------------------------------------------------------------------------
II. Performance by Business SegmentConsumer Products Operation Six new products were introduced and contributed to sales expansion in this segment, including Doruchitoru, a medicine to reduce excessive cholesterol in the blood, Inochi No Haha White, an OCT medicine to reduce menstrual discomfort, and Bluelet Hyouhakudama Plus, a toilet tank cleaner that maintains whiteness and shininess through the combined cleaning strength of Hyouhakudama and a concentrated cleaning liquid. In addition, although sales of OTC pharmaceutical products for summer were flat as a result of unseasonable weather, the overseas body warmer business and business related to existing products, such as OTC pharmaceutical product Nicitol 85, which promotes the breakdown and consumption of abdominal fat, mouth freshener Breath Care, and the toilet cleaner Bluelet, were firm, which led to sales growing 1.4% (351 million yen) year on year to 25,574 million yen. Operating income fell 73 million yen (-1.9%) year on year to 3,818 million yen. This followed factors that impacted the cost of sales, changes in the accounting treatment of inventory valuations and losses on the valuation and disposal of inventories following application of the Accounting for Inventory Valuations accounting standard starting this fiscal year. (Sales include sales and transfers between segments, which amounted to 8,089 million yen for the first quarter a year ago and 1 million yen for the current quarter.) Medical Devices Operation Focus in the Medical Devices Operation segment was in the fields of orthopedic surgery and operating room related products, the domestic market for which is expected to grow, and sales were firm. However, sales for the eVent Company declined because of delays in the redesign of artificial ventilators that they sell. As a result, sales rose 37 million yen (1.5%) year on year to 2,490 million yen. The Group also recorded an operating loss of 172 million yen since aggressive investments were continuously made to grow the eVent Company's artificial ventilator business. Other Operations Other Operations (transportation, sales promotion, market research, etc.) are conducted on a financially independent basis by Kobayashi Pharmaceutical's subsidiaries in support of the Company's two principal businesses and to contribute to the profits of those businesses. The Group reviewed the transfer values of the materials and services these operations provide. Therefore, sales fell 34 million yen (-1.7%) year on year to 1,924 million yen, but operating income rose 24 million yen (25.0%) year on year to 123 million yen. However, sales include sales and transfers between segments, which totaled 1,511 million yen during the first quarter a year ago and 1,499 million for current quarter.
- Cash Flows from Operating Activities
- Cash Flows from Investing Activities
- Cash Flows from Financing Activities
At the present time, earnings are not expected to change dramatically, and there were no changes in the earnings forecast for the first half and full fiscal year, which were released on May 8, 2008.
(Millions of Yen)
------------------------------------------------------------------------
H1 Sept 30, 2008 (%) FY March 31, 2009 (%)
------------------------------------------------------------------------
Net Sales 61,500 (52.9) 129,000 (43.6)
Operating Income 7,900 (13.6) 15,600 (16.0)
Ordinary Income 7,700 (3.1) 15,400 (1.8)
Net Income 4,900 5.0 8,800 3.5
Net Income per Share (yen) 118.41 212.66
------------------------------------------------------------------------
Note: The above forecasts are based on information available at the time of publication of the documents, and actual future business performance may differ from the forecasts due to unpredictable factors.V. Dividend The Kobayashi Group anticipates a 29 yen dividend at the end of the interim and a 29 yen dividend at the end of the year for a total dividend of 58 yen for the fiscal year. About Kobayashi Pharmaceutical
Kobayashi Pharmaceutical (TSE: 4967; OTC: KBYPF) first opened for business in 1919, and its management policy has always been to provide people and society with wonderful comfort through "Creativity and Innovation". Over the years the Company has expanded its scope, developing into a cluster of enterprises with two principal businesses: Consumer Products Operation and Medical Devices Operation. In the fiscal year ended March 31, 2008, Kobayashi achieved increases in sales and profits for the tenth consecutive year since the introduction of consolidated accounting. For more information, please visit www.kobayashi.co.jp . Source: Kobayashi Pharmaceutical Contact: Kobayashi Pharmaceutical Online http://www.kobayashi.co.jp/english/contact/index.html?lid=1 Copyright 2008 JCN Newswire. All rights reserved. www.japancorp.net |
 All Stories
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Copyright ©
2008
Yahoo!7 Pty Limited. All rights reserved.
Advertise with Us -
Privacy Policy - Terms of Service.