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Operating Results and Forecast

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Consolidated Operating Results for the First Quarter of the Fiscal Year Ending March 31, 2018

Overview


In the first quarter of the fiscal year ending March 31, 2018, which extends from April to June 2017, the Japanese economy continued to gradually improve due mainly to a recovery in consumer spending and capital investment. As for the future outlook, ongoing recovery, with improving employment and income levels, is expected.

Overseas, although the European, U.S., and Chinese economies continued to gradually recover, the outlook remains murky due in part to signs of a slowdown in automotive sales in the United States and China as well as instability in the European economy.

Under these circumstances, the Ryobi Group has been promoting proactive marketing and the development of new products to meet user needs while taking various measures to reduce costs, improve productivity and streamline business operations.

As a result, the Company's performance in the first quarter included a decrease in revenues and an increase in earnings compared with the same period of the previous fiscal year.


Consolidated Earnings
Three months ended
June 30, 2016
Three months ended
June 30, 2017
Change
Millions of
yen
% of
net sales
Millions of
yen
% of
net sales
Millions of
yen
%
Net sales 61,900 60,738 -1,162 -1.9%
Operating income 3,214 5.2% 3,536 5.8% 322 10.0%
Profit attributable to
owners of parent
2,154 3.5% 2,501 4.1% 347 16.1%


Performance by Industry Segment


The Die Castings Business recorded decreases in revenues and earnings compared with the same period of the previous fiscal year. Orders remained firm in Japan and China, but revenues decreased overall due to falls in orders in the United States and the United Kingdom. The decline in earnings was mainly attributable to the decrease in revenues.

The Power Tools and Builders' Hardware Business recorded increases in revenues and earnings compared with the same period of the previous fiscal year. Sales increased for both the power tools business and the builders' hardware business. Earnings grew due to an improvement in the cost of sales ratio in addition to effects of the increase in revenues.

The Printing Equipment Business saw a decrease in revenues while earnings increased compared with the same period of the previous fiscal year. Revenues fell as the domestic sales environment remained severe, but earnings rose mainly owing to the effects of cutting costs and expenses and a decrease in marketing expenses.


Net Sales by Industry Segment
Three months ended
June 30, 2016
Three months ended
June 30, 2017
Change
Millions of
yen
% of
consolidated
net sales
Millions of
yen
% of
consolidated
net sales
Millions of
yen
%
Die Castings 48,969 79.1% 47,866 78.8% -1,103 -2.3%
Power Tools and
Builders' Hardware
6,714 10.8% 7,015 11.6% 300 4.5%
Printing Equipment 6,136 9.9% 5,772 9.5% -363 -5.9%

Operating Income by Industry Segment
Three months ended
June 30, 2016
Three months ended
June 30, 2017
Change
Millions of
yen
% of
segment
net sales
Millions of
yen
% of
segment
net sales
Millions of
yen
%
Die Castings 3,016 6.2% 2,905 6.1% -110 -3.7%
Power Tools and
Builders' Hardware
234 3.5% 546 7.8% 312 133.0%
Printing Equipment -66 -1.1% 49 0.9% 116 -

Consolidated Financial Statements for the First Quarter of Fiscal 2018 < PDF 65KB >



Forecasts for the Fiscal Year Ending March 31, 2018

(As of July 31, 2017)

With regard to performance forecasts for fiscal 2018, the forecast values announced on May 11, 2017, for the first half and the full year have been revised as follows due to the favorable business results of the first quarter.


Consolidated Performance Forecasts for the Six Months Ending September 30, 2017
Net sales Operating
income
Profit attributable
to owners of
parent
Earnings
per share
Millions of yen Yen
Announced May 11, 2017 118,800 5,000 3,200 19.77
Announced July 31, 2017 120,000 6,200 3,900 24.10
Change 1,200
(1.0%)
1,200
(24.0%)
700
(21.9%)

Consolidated Performance Forecasts for the Full Fiscal Year Ending March 31, 2018
Net sales Operating
income
Profit attributable
to owners of
parent
Earnings
per share
Millions of yen Yen
Announced May 11, 2017 245,000 12,400 7,700 * 237.88
Announced July 31, 2017 247,000 13,600 8,400 * 259.50
Change 2,000
(0.8%)
1,200
(9.7%)
700
(9.1%)

* The forecast for earnings per share takes into consideration the effect of the reverse share split to be implemented on October 1, 2017. The consolidated forecast for the full fiscal year ended March 31, 2018 for earnings per share would be ¥51.90 per share if the reverse share split were not taken into consideration.



Operating Results for Fiscal 2017