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Operating Results and Forecast

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Consolidated Operating Results for the First Nine Months of the Fiscal Year Ending March 31, 2017

Overview


In the first nine months of the fiscal year ending March 31, 2017, extending from April to December 2016, the overall domestic economy enjoyed gradual recovery thanks to modest upturns in corporate production and exports as well as consumer spending. Overseas, although the U.S. economy remained firm, emerging nations mainly saw continued slowdowns in economic growth. Moreover, with the yen appreciating to a value greater than that recorded in the same period of the previous fiscal year, overseas subsidiaries' contributions to consolidated operating results were partially offset by disadvantageous foreign exchange rates.

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

As a result, although the Company registered a decrease in revenues in the first nine months, it recorded an increase in earnings compared with the same period of the previous fiscal year.


Consolidated Earnings
Nine months ended
December 31, 2015
Nine months ended
December 31, 2016
Change
Millions of
yen
% of
net sales
Millions of
yen
% of
net sales
Millions of
yen
%
Net sales 188,357 177,940 -10,416 -5.5%
Operating income 8,627 4.6% 8,750 4.9% 123 1.4%
Profit attributable to
owners of parent
5,361 2.8% 6,409 3.6% 1,048 19.6%


Performance by Industry Segment


The Die Castings Business recorded decreases both in revenues and earnings compared with the same period of the previous fiscal year. In addition to a decrease in domestic sales, disadvantageous foreign exchange rates affected revenues from overseas subsidiaries, leading to a widespread decline in sales. Furthermore, although the Company's U.S. and Chinese subsidiaries posted increases in profit, domestic results fell in step with the decrease in domestic sales, causing overall earnings to decline.

The Power Tools and Builders' Hardware Business recorded a decrease in revenues and an increase in earnings compared with the same period of the previous fiscal year. Sales were down due mainly to a decline in domestic sales and exports of power tools. Nevertheless, despite a profit decrease accompanying the aforementioned sales decrease, earnings grew due to an improvement in the cost of sales ratio that reflected the depreciation of Chinese yuan and resulting growth in overall profitability.

The Printing Equipment Business saw decreases both in revenues and earnings compared with the same period of the previous fiscal year. Despite an increase in orders received from Japanese customers for large- and middle-sized printing presses, overall revenues declined, reflecting a decrease in exports to the United States and China. Earnings decreased in step with the decrease in revenues and a rise in expenses for exhibition and other sales promotional activities.


Net Sales by Industry Segment
Nine months ended
December 31, 2015
Nine months ended
December 31, 2016
Change
Millions of
yen
% of
consolidated
net sales
Millions of
yen
% of
consolidated
net sales
Millions of
yen
%
Die Castings 147,198 78.1% 138,090 77.6% -9,108 -6.2%
Power Tools and
Builders' Hardware
21,007 11.2% 19,998 11.2% -1,009 -4.8%
Printing Equipment 19,947 10.6% 19,639 11.0% -307 -1.5%

Operating Income by Industry Segment
Nine months ended
December 31, 2015
Nine months ended
December 31, 2016
Change
Millions of
yen
% of
segment
net sales
Millions of
yen
% of
segment
net sales
Millions of
yen
%
Die Castings 6,894 4.7% 6,759 4.9% -135 -2.0%
Power Tools and
Builders' Hardware
598 2.8% 1,265 6.3% 667 111.6%
Printing Equipment 1,098 5.5% 683 3.5% -414 -37.8%

Consolidated Financial Statements for the First Nine Months of Fiscal 2017 < PDF 85KB >



Forecasts for the Fiscal Year Ending March 31, 2017

With regard to performance forecasts for fiscal 2017, the Company has revised the figures announced on October 31, 2016. Details follow.

Forecasts for sales and operating income were upwardly revised. This was mainly attributable to the depreciation of the yen observed after the announcement of the aforementioned performance forecasts that assumed the yen would appreciate from the third quarter onward. The forecast for profit attributable to owners of the parent was also revised upwardly, reflecting the aforementioned factors as well as the posting of extraordinary income associated with sales of non-current assets, including land and stocks.


Consolidated Performance Forecasts for the Full Fiscal Year Ending March 31, 2017
Net sales Operating
income
Profit attributable
to owners of
parent
Earnings
per share
Millions of yen Yen
Announced October 31, 2016 238,000 10,400 6,400 39.54
Announced January 31, 2017 240,000 11,000 8,000 49.43
Change 2,000
(0.8%)
600
(5.8%)
1,600
(25.0%)


Operating Results for Fiscal 2016