Hitachi Koki Releases Summary of Financial Results for the Half Year ended September 30, 2001
October 30, 2001
Company name: Hitachi Koki Co., Ltd.
Securities code: 6581
Stock market listings: Tokyo Stock Exchange, Osaka Securities Exchange
Headquarters: Tokyo
1. Consolidated results for the interim fiscal period ended September 30, 2001 (April 1, 2001-September 30, 2001)
Consolidated business results (Amounts less than \1 million have been omitted.)
Unit: millions of yen
| Sales | Operating income | Ordinary income | ||||
| Fiscal 2002 interim period | 64,226 | -2.6% | 2,284 | 59.7% | 1,643 | 264.2% |
|---|---|---|---|---|---|---|
| Fiscal 2001 interim period | 65,913 | - | 1,430 | - | 451 | - |
| Fiscal 2001 | 130,682 | 2,214 | 1,187 | |||
| Interim net income (Period under review) |
Interim net income per share (Period under review) |
Interim net income per share (Period under review) after adjustment for latent shares | ||||
| Fiscal 2002 interim period | 347 millions of yen |
-85.4% | 2.82 yen |
- | ||
|---|---|---|---|---|---|---|
| Fiscal 2001 interim period | 2,375 millions of yen |
- | 19.30 yen |
19.14 yen |
||
| Fiscal 2001 | 3,018 millions of yen |
24.53 yen |
24.42 yen |
|||
Notes:
1. Investment income and losses resulting from the application of the equity method:
Fiscal 2002 interim period: - \8 million
Fiscal 2001 interim period: -\5 million
Fiscal 2001: \16 million
2. Average number of shares during period: (Consolidated)
Fiscal 2002 interim period: 123,070,105 shares
Fiscal 2001 interim period: 123,069,656 shares
Fiscal 2001: 123,069,903 shares
3. Changes in accounting procedures: None
4. Percentages for net sales, operating income, ordinary income, and interim net income (period under review) are changes from the interim period in the previous fiscal year.
2. Consolidated Financial Condition
| Total assets | Shareholders' equity | Shareholders' equity ratio | Shareholders' equity per share | |
| Fiscal 2002 interim period | 138,454 millions of yen |
90,629 millions of yen |
65.5% | 736.39 yen |
|---|---|---|---|---|
| Fiscal 2001 interim period | 147,674 millions of yen |
90,889 millions of yen |
61.5% | 742.84 yen |
| Fiscal 2001 | 150,061 millions of yen |
91,419 millions of yen |
60.9% | 742.84 yen |
Scientific Instruments Group
Unit: millions of yen
| Consolidated | Results for theyear ended March 2000 | Plan for the year ending | ||
| March 2001 | March 2002 | March 2003 | ||
| Net sales | 3,160 | 3,600 | 3,750 | 3,900 |
|---|---|---|---|---|
| Operating income (loss) | (52) | 50 | 150 | 250 |
| Ratio of operating income to sales | - | 1.4 | 4.0 | 6.4 |
| Non-consolidated | Results for theyear ended March 2000 | Plan for the year ending | ||
| March 2001 | March 2002 | March 2003 | ||
| Net sales | 3,160 | 3,600 | 3,750 | 3,900 |
| Operating income (loss) | (52) | 50 | 150 | 250 |
| Ratio of operating income to sales | - | 1.4 | 4.0 | 6.4 |
Plan Highlights
1. Thorough Implementation of Efficient Management
2. Reinforcement of Consolidated Group Management
3. Reinforcement of Cost Competitiveness
4. Strengthening of New Product Development Capability
Specific Measures for Individual Groups
Power Tools Group
1. Reviewing production facility utilization
Under the new plan, plants in Japan will manufacture high-added-value products destined for world markets and professional-class products for the Japanese market. The Company will invest in its production facilities in China to develop their capacity to produce professional-class products, do-it-yourself (DIY) items and cordless tools for export to world markets.
2. Promoting alliances and technological cooperation
While considering a possibility of forming mutual product supply-type tie-ups with competitive companies, we will study a plan for covering the field of power tool products that are not produced by ourselves with products of tie-up manufacturers.
3. Increasing sales
Domestically, we will strive to increase sales under Hitachi Koki Sales Co., Ltd., a power tool sales subsidiary established in April this year to improve sales in the important Tokyo and the Kanagawa area, by strengthening direct ties to customers and expanding the commercial reach. We will also step up sales to the home center channel in Japan. In overseas markets, we will emphasize North America as the priority sales region and reinforce sales there through the home center route, in particular.
4. Prioritizing and accelerating new product development
With importance placed on new products for North America and Japan, we will develop our forte products, such as hammers, hammer drills, pneumatic nailers and staplers, disk grinders and circular saws, as well as products with wider markets, including cordless tools and home center items, on a priority basis as a means of sales expansion. Based on the thorough implementation of 3D-CAD and other digital design, furthermore, we will bolster our design development potential and accelerate the speed for product development. We will develop new products that meet future market needs.
5. Building up Total Supply Chain Management (TSCM) system
With importance placed on new products for North America and Japan, we will develop our forte products, such as hammers, hammer drills, pneumatic nailers and staplers, disk grinders and circular saws, as well as products with wider markets, including cordless tools and home center items, on a priority basis as a means of sales expansion. Based on the thorough implementation of 3D-CAD and other digital design, furthermore, we will bolster our design development potential and accelerate the speed for product development. We will develop new products that meet future market needs.
Printing Systems Group
1. Developing next-generation continuous paper laser printers
We will introduce new models designed for high visual quality, further speed increases and superb color capabilities, thereby improving our continuous paper laser printer series. These improvements build on the achievements of our high-speed continuous paper printers, represented by Laser Printer LB16 that features one of the highest printing speeds in the world.
2. Developing an advanced cut-sheet laser printer series
We will put the production of DDP70, a high-speed cut-sheet printer, into high gear and sell the products throughout the world using our own sales channels, other Hitachi channels and collaborating with our OEM partners inside and outside Japan. And, in addition, we will cultivate new markets by introducing POD products based on the DDP70 family for use by the mainstream printing industry.
3. Developing high-end ink-jet color printers
We will promptly develop high-end ink-jet color printers in our new business activities.
4. Reinforcing the solutions business
Formulating an array of products and services that provide a total solutions for customers, through the development of controllers, application software, pre-and post- printing processing equipment and other products. To accomplish this, we will further reinforce our collaboration with external partners, including Hitachi Ltd.
5. Streamlining the product development process
We will improve our design development capability and accelerate the speed of product development through advances in development technology, based on 3D-CAD and other digital design techniques.
6. Building up Total Supply Chain Management (TSCM) system
Shorten the lead time and speed up the turnover of inventory assets by building up the Total Supply Chain Management (TSCM) system.
Scientific Instruments Group
1. Expanding the centrifuge market in the biological research field
We will reinforce efforts to develop centrifugal systems used in the prior processing for genome analysis and centrifuges for the production of influenza vaccines, which are currently in increased demand
2. Globally reinforcing the centrifuge sales and support infrastructure
We will strive to expand sales in the world market and improve our centrifugal product mix by strengthening alliances with overseas companies.
3. Building up Total Supply Chain Management (TSCM) system
Shorten the lead time and speed up the turnover of inventory assets by building up the Total Supply Chain Management (TSCM) system.