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1st Quarter Results

29 Jul 2011 16:24

RNS Number : 4204L
Mitsubishi Electric Corporation
29 July 2011
 

 

FOR IMMEDIATE RELEASE

No. 2616

Investor Relations Inquiries:

Media Contact:

Investor Relations Group

Public Relations Division

Corporate Finance Division

Mitsubishi Electric Corporation

Mitsubishi Electric Corporation

Tel: +81-3-3218-3380

Tel: +81-3-3218-2391

prd.gnews@nk.MitsubishiElectric.co.jp

Cad.Irg@rk.MitsubishiElectric.co.jp

http://www.MitsubishiElectric.com/news/

 

 

Mitsubishi Electric Announces Consolidated Financial Results for the First Quarter of Fiscal 2012

 

 

Tokyo, July 29, 2011 - Mitsubishi Electric Corporation(TOKYO: 6503) announced today its financial results for the first quarter ending June 30, 2011, of the current fiscal year ending March 31, 2012 (fiscal 2012).

 

 

Consolidated Financial Results

Net sales:

813.6 billion yen

(4% increase from the same quarter last year)

Operating income:

52.2 billion yen

(1% increase from the same quarter last year)

Income before income taxes:

49.2 billion yen

(5% increase from the same quarter last year)

Net income attributable to

Mitsubishi Electric Corp.:

 

27.1 billion yen

 

(4% increase from the same quarter last year)

 

 

Management conditions during the first quarter of fiscal 2012 experienced a trend of recovery owing to ongoing buoyancy in demand for capital expenditures mainly in Asia, despite a sharp drop in domestic industrial production due to the Great East Japan Earthquake and Japanese yen appreciating against U.S. dollars.

 

Under these circumstances, first quarter consolidated net sales rose by 4% compared to the same period of the previous fiscal year to 813.6 billion yen, owing to increased revenue from the Energy and Electric Systems, Industrial Automation Systems, Electronic Devices and Home Appliances segments, and other factors.

 

Consolidated operating income increased by 1% compared to the same period of the previous fiscal year to 52.2 billion yen due to higher profits from the Industrial Automation Systems, Electronic Devices and Home Appliances segments, and other factors.

 

 

Consolidated Financial Results by Business Segment

Energy and Electric Systems

Total sales:

194.2 billion yen

(1% increase from the same quarter last year)

Operating income:

14.5 billion yen

(0.9 billion yen decrease from the same quarter last year)

 

The social infrastructure systems business saw an increase in orders compared to the same period of the previous fiscal year owing to growth in the Japanese domestic power generation business, while experiencing decreased sales from the same period of the previous fiscal year due to a decline in the rolling stock equipment business in Japan.

The buildingsystems business experienced increases in both orders and sales compared to the same period of the previous fiscal year, owing to increased demand for elevators and escalators in China and the ASEAN markets, as well as sales recorded for large-scale projects in China and the Middle East.

As a result, total sales for this segment increased by 1% from the same period of the previous fiscal year. Operating income decreased compared to the same period of the previous fiscal year by 0.9 billion yen due primarily to a shift in sales components.

 

 

Industrial Automation Systems

Total sales:

233.9 billion yen

(9% increase from the same quarter last year)

Operating income:

27.9 billion yen

(0.9 billion yen increase from the same quarter last year)

 

The factory automation systems business saw increases in both orders and sales from the same period of the previous fiscal year owing to growth in demand in the Asian market, including industrial machinery-related investments in China and flat panel display and semiconductor-related investments in Korea and Taiwan.

The automotive equipment business saw decreases in both orders and sales from the same period of the previous fiscal year with Japanese automotive manufacturers experiencing decreases in production volume due to impacts from the Great East Japan Earthquake, despite expansions in emerging markets including China and India, as well as a recovery in the North American market.

As a result, total sales for this segment increased by 9% from the same period of the previous fiscal year. Operating income increased by 0.9 billion yen compared to the same period of the previous fiscal year mainly due to an increase in sales.

 

 

Information and Communication Systems

Total sales:

86.2 billion yen

(5% decrease from the same quarter last year)

Operating income (loss):

(0.3 billion yen)

(2.0 billion yen decline from the same quarter last year)

 

The telecommunications equipment business saw decreases in both orders and sales compared to the same period of the previous fiscal year due to decreases in demand for communications infrastructures.

The information systems and service business saw no changes in sales from the same period of the previous fiscal year despite increases mainly in the network and system operations business.

The electronic systems business saw a decrease in orders compared to the same period of the previous fiscal year due to a decrease in large orders for the space systems business, while sales were unchanged from the same period of the previous fiscal year.

As a result, total sales for this segment showed a decrease of 5% compared to the same period of the previous fiscal year. Operating income declined by 2.0 billion yen compared to the same period of the previous fiscal year due primarily to decreased sales.

 

 

Electronic Devices

Total sales:

50.0 billion yen

(20% increase from the same quarter last year)

Operating income:

2.4 billion yen

(1.7 billion yen increase from the same quarter last year)

 

The semiconductor business saw increases in both orders and sales from the same period of the previous fiscal year owing to increased demand for power modules used in industrial, consumer and railway applications.

The LCD module business saw increases in both orders and sales from the same period of the previous fiscal year due to increased demand for industrial and automotive-use products.

As a result, total sales for the segment increased by 20% compared to the same period of the previous fiscal year. Operating income increased by 1.7 billion yen compared to the same period of the previous fiscal year due primarily to an increase in sales.

 

 

Home Appliances

Total sales:

232.3 billion yen

(8% increase from the same quarter last year)

Operating income:

14.7 billion yen

(0.5 billion yen increase from the same quarter last year)

 

The home appliances business saw an increase in sales by 8% compared to the same period of the previous fiscal year due primarily to increases in air conditioners for markets inside and outside Japan, LCD televisions and Blu-ray recorders in Japan, which experienced a last-minute surge before the termination of analog broadcasting, as well as photovoltaic systems for the Japanese market owing mainly to ongoing benefits from government subsidies.

Operating income increased by 0.5 billion yen from the same period of the previous fiscal year primarily due to increased sales.

 

 

Others

Total sales:

138.5 billion yen

(3% increase from the same quarter last year)

Operating income:

1.1 billion yen

(0.6 billion yen increase from the same quarter last year)

 

Sales increased by 3% compared to the same period of the previous fiscal year mainly in affiliated companies involved in engineering, material procurement and logistics. Operating income showed an increase by 0.6 billion yen compared to the same period of the previous fiscal year primarily due to increased sales.

 

 

 

Financial Standing

The company's total assets for the fiscal quarter decreased from the end of the previous fiscal year by 88.5 billion yen to 3,244.1 billion yen. This was mainly due to credit collection resulting in a decrease of trade receivables by 119.2 billion yen and also to cash and cash equivalents decreasing by 47.4 billion yen, while inventories increased by 86.0 billion yen mainly due to variation of the balance of work-in-process as recorded in commensurate with progress in job orders under pertinent contracts.

 

The balance of outstanding debt and corporate bonds fell by 7.2 billion yen from the balance as of the end of the previous fiscal year to 477.1 billion yen, while the ratio of interest bearing debt to total assets was 14.7%, a 0.2-point increase compared to the end of the previous fiscal year. Trade payables decreased by 62.2 billion yen, and retirement and severance benefits increased by 6.8 billion yen.

 

Mitsubishi Electric Corporation shareholders' equity increased by 1.3 billion yen compared to the end of the previous fiscal year to 1,051.7 billion yen. Shareholders' equity ratio showed a 0.9-point increase compared to the end of the previous fiscal year to 32.4%. Retained earnings increased by 12.1 billion yen due to a total consolidated net income attributable to Mitsubishi Electric Corporation of 27.1 billion yen and dividend payment of 15.0 billion yen, while accumulated other comprehensive income decreased by 8.3 billion yen amidst strong yen and other factors.

 

Operating cash flow for this quarter decreased by 67.4 billion yen compared to the same period of the previous fiscal year to 19.2 billion yen (cash in). Investment cash flow decreased by 23.3 billion yen compared to the same period of the previous fiscal year to 31.8 billion yen (cash out), resulting from a decrease mainly in investment on securities. As a result, free cash flow totaled 12.5 billion yen (cash out). Financial cash flow was 33.8 billion yen (cash out) due to payment of dividends, repayment of loans and other factors.

 

Forecast for Fiscal 2012

Despite impacts from the Great East Japan Earthquake, Mitsubishi Electric's financial performance in the first half of fiscal 2012, ending September 30, 2011, is expected to exceed its previous forecast in the Industrial Automation Systems segment, which is experiencing ongoing buoyancy in demand for capital expenditures mainly in Asia, and the Home Appliances segment, which is enjoying strong sales mainly in air conditioners for markets both inside and outside Japan. The company has modified the consolidated earnings forecast for the first half of fiscal 2012, announced on June 20, 2011, as stated below. The forecast for fiscal 2012, ending March 31, 2012, has also been raised by the same amount revised for the first half of fiscal 2012.

 

 

First Half of Fiscal 2012 Consolidated Earnings Forecast

Previous forecast

Revised forecast

Net sales:

1,750.0 billion yen

1,770.0 billion yen

(3% increase from the same period last year)

Operating income:

90.0 billion yen

100.0 billion yen

(11% decrease from the same period last year)

Income before

income taxes:

70.0 billion yen

80.0 billion yen

(30% decrease from the same period last year)

Net income

attributable to

Mitsubishi Electric Corp.:

45.0 billion yen

55.0 billion yen

(23% decrease from the same period last year)

 

 

Fiscal 2012 Consolidated Earnings Forecast

Previous forecast

Revised forecast

Net sales:

3,770.0 billion yen

3,790.0 billion yen

(4% increase from the previous fiscal year)

Operating income:

230.0 billion yen

240.0 billion yen

(3% increase from the previous fiscal year)

Income before

income taxes:

200.0 billion yen

210.0 billion yen

(Unchanged from the previous fiscal year)

Net income

attributable to

Mitsubishi Electric Corp.:

125.0 billion yen

135.0 billion yen

(8% increase from the previous fiscal year)

 

 

Note: The results forecast above is based on assumptions deemed reasonable by the Company at the present time, and actual results may differ significantly from forecasts. Please refer to the cautionary statement at the end.

 

 

 

Consolidated Financial Results Summary

 

(In billions of yen except where noted)

FY '11 Q1 (A)

(Apr. 1, 2010 -

Jun. 30, 2010)

FY '12 Q1 (B)

(Apr. 1, 2011 -

Jun. 30, 2011)

B - A

B/A

(%)

Net sales

778.9

813.6

34.6

104

Operating income

51.5

52.2

0.6

101

Income before income taxes

46.7

49.2

2.4

105

Net income attributable to Mitsubishi Electric Corp.

26.2

27.1

0.9

104

Basic net income per share attributable to Mitsubishi Electric Corp.

12.22 yen

12.66 yen

0.44 yen

104

 

Note: 1) Consolidated financial charts made in accordance with U.S. GAAP.

2) The company has 161 consolidated subsidiaries.

Consolidated Profit and Loss Statement

 

 (In millions of yen)

 

FY '11 Q1

(Apr. 1, 2010 -

Jun. 30, 2010)

FY '12 Q1

(Apr. 1, 2011 -

Jun. 30, 2011)

B - A

B/A (%)

(A)

% of

total

(B)

% of

total

Net sales

778,937

100.0

813,635

100.0

34,698

104

Cost of sales

548,277

70.4

575,633

70.7

27,356

105

Selling, general and

administrative expenses

179,063

23.0

185,768

22.9

6,705

104

 

Operating income

51,597

6.6

52,234

6.4

637

101

Other income

12,414

1.6

9,615

1.2

(2,799)

77

Interest and dividends

3,241

0.4

3,370

0.4

129

104

Other

9,173

1.2

6,245

0.8

(2,928)

68

Other expenses

17,234

2.2

12,603

1.5

(4,631)

73

Interest

1,973

0.3

1,792

0.2

(181)

91

Equity in losses of affiliated companies

5,705

0.7

4,479

0.5

(1,226)

79

Other

9,556

1.2

6,332

0.8

(3,224)

66

Income before income

taxes

46,777

6.0

49,246

6.1

2,469

105

 

Income taxes

19,035

2.4

19,965

2.5

930

105

Net income

27,742

3.6

29,281

3.6

1,539

106

Net income attributable to the noncontrolling interests

1,509

0.2

2,105

0.3

596

139

Net income

attributable to Mitsubishi Electric Corp.

26,233

3.4

27,176

3.3

943

104

 

 

Consolidated Balance Sheet

 

 (In millions of yen)

FY '11 (A)

(ending Mar. 31, 2011)

FY '12 Q1 (B)

(ending Jun. 30, 2011)

B - A

(Assets)

Current assets

2,073,064

1,991,801

(81,263)

Cash and cash equivalents

472,067

424,633

(47,434)

Short-term investments

10,031

7,637

(2,394)

Trade receivables

790,991

671,911

(119,080)

Inventories

527,504

613,512

86,008

Prepaid expenses and other current assets

272,471

274,108

1,637

Long-term trade receivables

2,090

1,963

(127)

Investments

448,953

435,662

(13,291)

Net property, plant and equipment

527,453

533,722

6,269

Other assets

281,119

281,020

(99)

Total assets

3,332,679

3,244,168

(88,511)

(Liabilities and equity)

Current liabilities

1,470,387

1,389,268

(81,119)

Bank loans and current portion of long-term debt

202,761

206,318

3,557

Trade payables

697,789

635,495

(62,294)

Other current liabilities

569,837

547,455

(22,382)

Long-term debt

281,591

270,785

(10,806)

Retirement and severance benefits

419,008

425,866

6,858

Other fixed liabilities

52,668

51,243

(1,425)

Total equity

1,109,025

1,107,006

(2,019)

Mitsubishi Electric Corp. shareholders' equity

1,050,340

1,051,734

1,394

Common stock

175,820

175,820

-

Capital surplus

208,669

206,270

(2,399)

Retained earnings

881,973

894,121

12,148

Accumulated other comprehensive income (loss)

(215,919)

(224,270)

(8,351)

Treasury stock at cost

(203)

(207)

(4)

Noncontrolling interests

58,685

55,272

(3,413)

Total liabilities and equity

3,332,679

3,244,168

(88,511)

Balance of Debt

484,352

477,103

(7,249)

Accumulated other comprehensive income (loss):

Foreign currency translation adjustments

(59,400)

(63,215)

(3,815)

Pension liability adjustments

(162,390)

(166,929)

(4,539)

Unrealized gains on securities

5,957

5,953

(4)

Unrealized gains (losses) on derivative

instruments

(86)

(79)

7

 

Consolidated Cash Flow Statement

 

(In millions of yen)

FY '11 Q1 (A)

(Apr. 1, 2010 - Jun. 30, 2010)

FY '12 Q1 (B)

(Apr. 1, 2011 - Jun. 30, 2011)

B - A

I

Cash flows from operating activities

1

Net income

27,742

29,281

1,539

2

Adjustments to reconcile net income to net cash provided by operating activities

(1) Depreciation of tangible fixed assets and other

21,855

24,498

2,643

(2) Decrease in trade receivables

132,096

119,148

(12,948)

(3) Decrease (increase) in inventories

(91,142)

(87,377)

3,765

(4) Increase (decrease) in trade payables

(23,626)

(58,981)

(35,355)

(5) Other, net

19,700

(7,356)

(27,056)

Net cash provided by operating activities

86,625

19,213

(67,412)

II

Cash flows from investing activities

1

Capital expenditure

(26,035)

(33,258)

(7,223)

2

Proceeds from sale of property, plant and equipment

1,702

765

(937)

3

Purchase of short-term investments and investment securities

(37,187)

(1,416)

35,771

4

Proceeds from sale of short-term investments and investment securities

6,217

4,085

(2,132)

5

Other, net

166

(1,981)

(2,147)

Net cash used in investing activities

(55,137)

(31,805)

23,332

I + II

Free cash flow

31,488

(12,592)

(44,080)

III

Cash flows from financing activities

1

Repayment of long-term debt

(5,002)

(13,420)

(8,418)

2

Increase (decrease) in bank loans, net

(1,760)

2,166

3,926

3

Dividends paid

(8,580)

(15,028)

(6,448)

4

Purchase of treasury stock

(9)

(4)

5

5

Reissuance of treasury stock

1

-

(1)

6

Other, net

(438)

(7,530)

(7,092)

Net cash provided by (used in) financing activities

(15,788)

(33,816)

(18,028)

IV

Effect of exchange rate changes on cash and cash equivalents

(7,125)

(1,026)

6,099

V

Net increase (decrease) in cash and cash equivalents

8,575

(47,434)

(56,009)

VI

Cash and cash equivalents at beginning of period

391,118

472,067

80,949

VII

Cash and cash equivalents at end of period

399,693

424,633

24,940

 

Consolidated Segment Information

 

 

1. Sales and Operating Income by Business Segment

(In millions of yen)

Business Segment

FY '11 Q1

(Apr. 1, 2010 -

Jun. 30, 2010)

FY '12 Q1

(Apr. 1, 2011 -

Jun. 30, 2011)

C - A

D - B

C/A

(%)

Sales

(A)

Operating income

(B)

Sales

(C)

Operating income

(loss) (D)

Energy and Electric Systems

192,323

15,415

194,205

14,503

1,882

(912)

101

Industrial Automation Systems

214,560

27,015

233,919

27,933

19,359

918

109

Information and

Communication Systems

91,222

1,651

86,208

(374)

(5,014)

(2,025)

95

Electronic Devices

41,544

737

50,034

2,494

8,490

1,757

120

Home Appliances

214,949

14,155

232,384

14,723

17,435

568

108

Others

134,987

460

138,599

1,149

3,612

689

103

Subtotal

889,585

59,433

935,349

60,428

45,764

995

105

Eliminations and other

(110,648)

(7,836)

(121,714)

(8,194)

(11,066)

(358)

-

Total

778,937

51,597

813,635

52,234

34,698

637

104

*Note: Inter-segment sales are included in the above chart.

2. Sales and Operating Income by Location

(In millions of yen)

Location

FY '11 Q1

(Apr. 1, 2010 -

Jun. 30, 2010)

FY '12 Q1

(Apr. 1, 2011 -

Jun. 30, 2011)

C - A

D - B

C/A

(%)

Sales

(A)

Operating income

(B)

Sales

(C)

Operating income

(D)

Japan

662,845

37,439

680,672

37,912

17,827

473

103

North America

49,698

86

56,033

1,196

6,335

1,110

113

Asia (excluding Japan)

133,381

11,320

156,033

12,262

22,652

942

117

Europe

76,900

3,571

84,820

3,230

7,920

(341)

110

Others

8,369

938

8,895

971

526

33

106

Subtotal

931,193

53,354

986,453

55,571

55,260

2,217

106

Eliminations

(152,256)

(1,757)

(172,818)

(3,337)

(20,562)

(1,580)

-

Total

778,937

51,597

813,635

52,234

34,698

637

104

*Note: Inter-segment sales are included in the above chart.

3. Sales by Location of Customers

(In millions of yen)

Location

FY '11 Q1

(Apr. 1, 2010 -

Jun. 30, 2010)

FY '12 Q1

(Apr. 1, 2011 -

Jun. 30, 2011)

B - A

B/A (%)

Sales (A)

% of

total net

sales

Sales (B)

% of

total net

sales

Japan

487,534

62.6

498,848

61.3

11,314

102

North America

54,152

6.9

58,971

7.2

4,819

109

Asia

(excluding Japan)

139,540

17.9

155,056

19.1

15,516

111

Europe

76,099

9.8

83,135

10.2

7,036

109

Others

21,612

2.8

17,625

2.2

(3,987)

82

Total overseas sales

291,403

37.4

314,787

38.7

23,384

108

Consolidated total

778,937

100.0

813,635

100.0

34,698

104

 

 

Cautionary Statement

The expectation of operating results herein and any associated statement to be made orally with respect to the Company's current plans, estimates, strategies and beliefs and any other statements that are not historical facts are forward-looking statements. Words such as "expects", "anticipates", "plans", "believes", "scheduled", "estimated", "targeted" along with any variations of these words and similar expressions are intended to identify forward-looking statements which include but are not limited to projections of revenues, earnings, performance and production. While the statements herein are based on certain assumptions and premises that the Company trusts and considers to be reasonable under the circumstances to the date of announcement, you are requested to kindly take note that actual operating results are subject to change due to any of the factors as contemplated hereunder and/or any additional factor unforeseeable as of the date of this announcement. Such factors materially affecting the expectations expressed herein shall include but are not limited to the following:

 

(1) Important trends

The Mitsubishi Electric Group's operations may be affected by trends in the global economy, social conditions, laws, tax codes, and regulations.

(2) Foreign currency exchange rates

Fluctuations in foreign currency markets may affect Mitsubishi Electric's sales of exported products and purchases of imported materials that are denominated in U.S. dollars or Euros, as well as its Asian production bases' sales of exported products and purchases of imported materials that are denominated in foreign currencies.

(3) Stock markets

A fall in stock market prices may cause Mitsubishi Electric to record devaluation losses on marketable securities, or cause an increase in retirement benefit obligations in accordance with a decline in the fair value of pension assets.

(4) Supply/demand balance for products and procurement conditions for materials and components

A decline in prices and shipments due to changes in the supply/demand balance, as well as an increase in material prices due to a worsening of material and component procurement conditions may adversely affect the Mitsubishi Electric Group's performance.

(5) Fund raising

An increase in interest rates, the yen interest rate in particular, would increase Mitsubishi Electric's interest expenses.

(6) Significant patent matters

Important patent filings, licensing, copyrights and patent-related disputes may adversely affect related businesses.

(7) Environmental legislation or relevant issues

We may incur losses or expenses owing to changes in environmental legislation or the occurrence of environmental issues. Such changes in legislation or the occurrence of environmental issues may also impact manufacturing and all corporate activities of the Mitsubishi Electric Group.

(8) Flaws or defects in products or services

We may incur losses or expenses resulting out of flaws or defects in products or services, and the lowered reputation of the quality of all our products and services may affect the entire Mitsubishi Electric group.

(9) Litigation and other legal proceedings

The Mitsubishi Electric Group's operations may be affected by lawsuits or other legal proceedings against Mitsubishi Electric, its subsidiaries and/or equity-method affiliated companies.

(10) Disruptive changes

Disruptive changes in technology, development of products using new technology, timing of production, and market introduction may adversely affect the Mitsubishi Electric Group's performance.

(11) Business restructuring

The Mitsubishi Electric Group may record losses due to restructuring measures.

(12) Natural disasters

The Mitsubishi Electric Group's operations, particularly manufacturing activities, may be affected by the occurrence of earthquakes, typhoons, tsunami, fires and other large-scale disasters.

(13) Other significant factors

The Mitsubishi Electric Group's operations may be affected by the outbreak of social or political upheaval due to terrorism, war, pandemic by new strains of influenza and other diseases, or other factors.

 

 

Notes

1.Change of status in material affiliates in this quarterly period: none

 

 

###

 

 

About Mitsubishi Electric

With 90 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company recorded consolidated group sales of 3,645.3 billion yen (US$ 43.9 billion*) in the fiscal year ended March 31, 2011. For more information visit http://www.MitsubishiElectric.com

*At an exchange rate of 83 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2011

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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27th Oct 20229:33 amRNSStatement re (Improper quality control practices)
14th Oct 20228:21 amRNSStatement re (Reobtained ISO9001, Nagasaki Works)
22nd Sep 202211:20 amRNSDividend Declaration
20th Sep 20228:41 amRNSStatement re (Reobtained ISO 9001)
30th Aug 20227:00 amRNSStatement re (ISO9001 of Kobe Works etc.)
5th Aug 20227:12 amRNSStatement re (Nagoya Works ISO)
5th Aug 20227:09 amRNSStatement re (Himeji and Sanda Works IATF16949)
28th Jul 20227:00 amRNS1st Quarter Results
27th Jul 202210:52 amRNSStatement re (ISO9001 of Itami Works)
8th Jul 202210:15 amRNSStatement re (ISO9001 of T&D systems center)
8th Jul 202210:08 amRNSStatement re (Kamakura Works ISO9001)
7th Jul 20228:03 amRNSStatement re (ISO9001 of T&D systems center)
4th Jul 20227:00 amRNSStatement re (Rescinded ISO9001 Suspension)
22nd Jun 20228:47 amRNSStatement re (ISO9001 Temporarily Suspended )
16th Jun 202210:01 amRNSStatement re (ISO9001, IRIS Temporarily Suspended)
10th Jun 202210:01 amRNSStatement re (ISO9001 Suspension to be Rescinded)
1st Jun 202210:01 amRNSStatement re (Improper QC Practices Investigation)
1st Jun 202210:00 amRNSStatement re (Compensation Scheme)
25th May 20228:34 amRNSStatement re (Director Candidates)
25th May 20228:27 amRNSDividend Declaration
6th May 20227:25 amRNSStatement re (ISO & IRIS Temporarily Suspended)
28th Apr 20227:00 amRNSFinal Results
22nd Apr 20227:55 amRNSStatement re Completion Date of Investigation
22nd Apr 20227:53 amRNSStatement re Improper Quality Control Practices
1st Apr 20227:00 amRNSStatement re (Director Candidates)
25th Mar 20227:08 amRNSDividend Declaration
11th Mar 20227:00 amRNSStatement re (Rescinded ISO 9001 Suspension)
9th Mar 20227:00 amRNSStatement re (Conclusion of Stock Repurchase)
3rd Mar 20227:00 amRNSStatement re (Company Stock Repurchase)
17th Feb 20227:24 amRNSStatement re (New Building System Subsidiary)
17th Feb 20227:19 amRNSStatement re (New Management Structure)
4th Feb 20227:00 amRNSStatement re (Status of Company Stock Repurchase)
2nd Feb 20227:00 amRNS3rd Quarter Results
26th Jan 20229:22 amRNSStatement re (Rescinded ISO 9001 Suspension)
14th Jan 20228:09 amRNSStatement re (Suspended ISO9001 Certifications)
7th Jan 20227:00 amRNSStatement re (Status of Company Stock Repurchase)
7th Jan 20227:00 amRNSStatement re (Rescinded ISO 9001 Suspension)
24th Dec 20217:00 amRNSStatement re (Improper QC Practice Investigation)
23rd Dec 20217:00 amRNSStatement re (Disciplinary Actions)
23rd Dec 20217:00 amRNSStatement re (Executive Officer’s Duties Change)
23rd Dec 20217:00 amRNSStatement re (Improper QC Investigation Results)
23rd Dec 20217:00 amRNSStatement re (Governance Review Committee Report)
23rd Dec 20217:00 amRNSStatement re (Investigation into Improper QC)
3rd Dec 20217:00 amRNSStatement re (Status of Company Stock Repurchase)

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