You are on page 1of 6

January 31, 2013

(Consolidated)

KAWASAKI HEAVY INDUSTRIES, LTD. AND CONSOLIDATED SUBSIDIARIES


FLASH CONSOLIDATED FINANCIAL RESULTS
For nine months ended December 31, 2012 and 2011 and one year ended March 31, 2012

Operating results

Net sales
Operating income
Net income
Earnings per share (Yen)

Millions of yen
Nine months ended
Nine months ended
Dec. 31, 2012
Dec. 31, 2011
\
885,896
\
906,314
22,920
47,282
19,343
33,679
11.5
20.1

Thousands of U.S. dollars


Nine months ended
Dec. 31, 2012
$ 10,232,109
264,726
223,411

Millions of yen / Thousand shares


As of
As of
March 31, 2012
Dec. 31, 2012
\
1,494,484
\
1,362,139
322,365
315,922

Thousands of U.S. dollars


As of
Dec. 31, 2012
$
17,261,307
3,723,319

Financial condition

Total assets
Net assets

1,671,799

Number of shares issued and outstanding


Equity Ratio

1,671,815

20.8%

22.4%

Cash flows

Operating activities
Investing activities
Financing activities
Cash and cash equivalents at end of term

Millions of yen
Nine months ended
Nine months ended
Dec. 31, 2011
Dec. 31, 2012
\
(104,274)
\
(16,113)
(66,116)
(51,417)
168,493
61,232
29,587
34,301

Fiscal year forecast


Net sales
One year ending March 31, 2013

1,300,000

-1-

Thousands of U.S. dollars


Nine months ended
Dec. 31, 2012
$
(1,204,365)
(763,640)
1,946,096
341,730

Millions of yen
Operating income
\

40,000

Net income
\

30,000

(Consolidated)
Notes : 1.

This "FLASH CONSOLIDATED FINANCIAL RESULTS" and following financial statements have been
prepared in conformity with generally accepted accounting principles and practices in Japan.

2.

All US$ amounts in these statements represent the arithmetical results of translating Japanese yen
to U.S. dollars on the basis of 86.58=$1, the rate prevailing as of December 31, 2012, solely for the
convenience of the readers.

-2-

(Consolidated)

Condensed Consolidated Balance Sheets


As of December 31 and March 31, 2012
Thousands of
Millions of yen
As of
As of
Dec. 31, 2012
Mar. 31, 2012

Dec. 31, 2012

34,316
416,479
441,897
74,494
967,186
59,602
274,750
60,601
1,362,139

147,924
310,775
99,051
138,253
696,003

U.S. dollars

As of

Assets :
Current assets :
Cash on hand and in banks
Receivables, less allowance
Inventories
Other current assets
Total current assets
Investments and long-term loans less allowance
Net property, plant and equipment
Intangible and other assets
Total assets

30,840
440,005
508,658
75,019
1,054,522
81,648
296,366
61,948
1,494,484

346,802
263,548
102,834
127,476
840,660

356,202
5,082,063
5,875,006
866,470
12,179,741
943,035
3,423,031
715,500
17,261,307

Liabilities and net assets :


Current liabilities :
Short-term borrowings
and current portion of long-term debt
Payables
Advances from customers
Other current liabilities
Total current liabilities
Long-term liabilities :
Long-term debt, less current portion
Others
Total long-term liabilities
Net assets :
Common stock
Capital surplus
Retained earnings
Treasury stock
Net unrealized gains on securities
Gains (losses) on hedging items
Foreign currency translation adjustments
Minority interests
Total net assets
Total liabilities and net assets

-3-

4,005,567
3,043,982
1,187,734
1,472,350
9,709,633

240,381
91,078
331,459

259,243
90,971
350,214

2,776,403
1,051,952
3,828,355

104,484
54,394
187,008
(25)
3,416
(5,999)
(32,229)
11,316
322,365
1,494,484

104,484
54,394
176,414
(22)
3,989
246
(33,451)
9,868
315,922
1,362,139

1,206,791
628,252
2,159,944
(288)
39,454
(69,288)
(372,245)
130,699
3,723,319
17,261,307

(Consolidated)

Condensed Consolidated Statements of Income


For nine months ended December 31, 2012 and 2011

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Other income (expenses) :
Interest and dividend income
Equity in income of unconsolidated
subsidiaries and affiliates
Interest expense
Other, net
Income before income taxes and
minority interests
Income taxes
Minority interests in net income of
consolidated subsidiaries
Net income

Millions of yen
Nine months ended
Nine months ended
Dec.31, 2011
Dec.31, 2012
906,314
\
885,896
\
749,212
748,339
157,102
137,557
109,820
114,637
47,282
22,920

Thousands of
U.S. dollars

Change
-2%

-52%

Nine months ended


Dec.31, 2012
$
10,232,109
8,643,325
1,588,784
1,324,058
264,726

1,928

1,813

22,268

7,082
(3,131)
1,038

7,100
(3,237)
4,228

81,797
(36,163)
11,989

29,837
(8,694)

57,186
(21,442)

344,617
(100,416)

(1,800)
19,343

-4-

(2,065)
33,679

-43%

(20,790)
223,411

(Consolidated)

Segment information
Information by reportable segment

External
sales
Ship Offshore Structure \
Rolling Stock
Aerospace
Gas Turbine & Machinery
Plant & Infrastructure
Motorcycle & Engine
Precision Machinery
Other
Total
Eliminations and corporate
\
Consolidated total

87,113
94,651
138,586
137,070
78,773
154,277
129,097
86,747
906,314
906,314

External
sales
Ship Offshore Structure \
Rolling Stock
Aerospace
Gas Turbine & Machinery
Plant & Infrastructure
Motorcycle & Engine
Precision Machinery
Other
Total
Eliminations and corporate
Consolidated total
\

68,629
94,181
165,848
144,667
71,132
158,855
93,830
88,754
885,896
885,896

Millions of yen
Nine months ended
Dec. 31, 2011
Total
sales

Intersegment
sales
\

1,048
1,641
1,433
14,428
8,313
766
9,497
24,972
62,098
(62,098)
-

Intersegment
sales
\

1,446
2,468
1,656
12,227
11,460
513
9,382
23,536
62,688
(62,688)
-

88,161
96,292
140,019
151,498
87,086
155,043
138,594
111,719
968,412
(62,098)
906,314

Operating
expenses
\

Millions of yen
Nine months ended
Dec. 31, 2012
Total
sales
\

70,075
96,649
167,504
156,894
82,592
159,368
103,212
112,290
948,584
(62,688)
885,896

84,029
91,387
134,114
143,464
78,249
159,624
117,805
108,367
917,039
(58,007)
859,032

Operating
income (loss)
\

Operating
expenses
\

65,658
97,234
158,158
152,239
78,880
161,386
98,361
110,789
922,705
(59,729)
862,976

4,132
4,905
5,905
8,034
8,837
(4,581)
20,789
3,352
51,373
(4,091)
47,282

Operating
income (loss)
\

4,417
(585)
9,346
4,655
3,712
(2,018)
4,851
1,501
25,879
(2,959)
22,920

Thousands of U.S. dollars

External
sales
Ship Offshore Structure
Rolling Stock
Aerospace
Gas Turbine & Machinery
Plant & Infrastructure
Motorcycle & Engine
Precision Machinery
Other
Total
Eliminations and corporate
Consolidated total

792,666
1,087,792
1,915,546
1,670,905
821,575
1,834,777
1,083,738
1,025,110
10,232,109
10,232,109

Intersegment
sales
$

16,701
28,506
19,127
141,222
132,363
5,925
108,362
271,841
724,047
(724,047)
-

-5-

Nine months ended


Dec. 31, 2012
Total
sales
$

809,367
1,116,298
1,934,673
1,812,127
953,938
1,840,702
1,192,100
1,296,951
10,956,156
(724,047)
10,232,109

Operating
expenses
$

758,350
1,123,054
1,826,727
1,758,362
911,065
1,864,010
1,136,071
1,279,614
10,657,253
(689,870)
9,967,383

Operating
income (loss)
$

51,017
(6,756)
107,946
53,765
42,873
(23,308)
56,029
17,337
298,903
(34,177)
264,726

(Consolidated)

Net sales, orders and order backlog by industry segment


For nine months ended December 31, 2012 and 2011 and as of December 31 and March 31, 2012

Thousands of

Millions of yen
Nine months ended
Nine months ended
Dec. 31, 2012
Dec. 31, 2011
Net sales :
Ship Offshore Structure
Rolling Stock
Aerospace
Gas Turbine & Machinery
Plant & Infrastructure
Motorcycle & Engine
Precision Machinery
Other
Total
Orders :
Ship Offshore Structure
Rolling Stock
Aerospace
Gas Turbine & Machinery
Plant & Infrastructure
Motorcycle & Engine
Precision Machinery
Other
Total

68,629
94,181
165,848
144,667
71,132
158,855
93,830
88,754
885,896

(8%)
(11%)
(19%)
(16%)
(8%)
(18%)
(10%)
(10%)
(100%)

42,982
93,149
138,359
131,670
69,481
158,855
78,403
89,534
802,433

(5%)
(12%)
(17%)
(16%)
(9%)
(20%)
(10%)
(11%)
(100%)

U.S. dollars

%
Change

Nine months ended


Dec. 31, 2012

87,113
94,651
138,586
137,070
78,773
154,277
129,097
86,747
906,314

(10%)
(10%)
(15%)
(15%)
(9%)
(17%)
(14%)
(10%)
(100%)

-21%
-0%
+20%
+6%
-10%
+3%
-27%
+2%
-2%

36,911
49,937
114,110
123,344
84,069
154,277
131,185
88,273
782,106

(5%)
(6%)
(14%)
(16%)
(11%)
(20%)
(17%)
(11%)
(100%)

+16%
+87%
+21%
+7%
-17%
+3%
-40%
+1%
+3%

792,666
1,087,792
1,915,546
1,670,905
821,575
1,834,777
1,083,738
1,025,110
10,232,109

496,442
1,075,872
1,598,048
1,520,790
802,506
1,834,777
905,555
1,034,120
9,268,110
Thousands of

Millions of yen
As of
Dec. 31, 2012
Order backlog :
Ship Offshore Structure
Rolling Stock
Aerospace
Gas Turbine & Machinery
Plant & Infrastructure
Motorcycle & Engine
Precision Machinery
Other
Total

77,657
348,644
359,572
411,817
172,076
26,873
26,644
\ 1,423,283

U.S. dollars

As of
Mar. 31, 2012

(5%)
(25%)
(25%)
(29%)
(12%)
( - %)
(2%)
(2%)
(100%)

102,870
345,170
386,376
409,819
181,698
42,300
25,883
1,494,116

(7%)
(23%)
(26%)
(27%)
(12%)
( - %)
(3%)
(2%)
(100%)

%
Change
-25%
+1%
-7%
+0%
-5%
-%
-36%
+3%
-5%

As of
Dec. 31, 2012
$

896,939
4,026,842
4,153,060
4,756,491
1,987,479
310,383
307,741
16,438,935

Net Sales by geographic area


For nine months ended December 31, 2012 and 2011
Thousands of

Millions of yen
As of
Dec. 31, 2012
Japan

United States

U.S. dollars

%
Change

As of
Dec. 31, 2011

438,227

(49%)

177,244

(20%)

385,211

(42%)

+14%

152,505

(17%)

+16%

As of
Dec. 31, 2012
$

5,061,527
2,047,170

61,025

(7%)

89,937

(10%)

-32%

704,840

Asia

137,881

(16%)

179,109

(20%)

-23%

1,592,527

Other

71,519

(8%)

99,552

(11%)

-28%

826,045

885,896

(100%)

906,314

(100%)

-2%

Europe

Total

-6-

10,232,109