Thursday 05 November, 2009
Takefuji Corporation
Second Quarter Results
RNS Number : 0077C Takefuji Corporation 05 November 2009
(Translation)
Brief Statement of Financial Results at the Second Quarter
for the Fiscal Year Ending March 31, 2010
November 5, 2009
Company Name: TAKEFUJI CORPORATION (the "Company")
Stock Listings: Tokyo Stock Exchange, First Section/ London Stock Exchange
Code Number: 8564
URL: http://www.takefuji.co.jp/
Head Office: 15-1 Nishi-Shinjuku 8-chome, Shinjuku-ku, Tokyo 163-8654, Japan
Representative Personnel: Akira Kiyokawa, President
Administrative Personnel to Contact: Kentaro Itai, Director & Executive Officer in charge of : Public Relations Dept. as General Manager
Tel: +81-3-3365-8030
Scheduled date for filing the quarterly report to Financial Services Agency: November 13, 2009
Scheduled date of payment of Dividends: December 4, 2009
Note: Figures are rounded (as for "statistics per share" at three places of decimal)
to the nearest appropriate unit.
1. Consolidated Business Results at the Second Quarter (from April 1, 2009 to September 30, 2009) for the Fiscal Year Ending March 31, 2010
(1) Consolidated Operating Results
|
|
Note: The percentage figures for operating revenues, operating income, ordinary income and net income represent year-on-year changes.
|
|
|
Operating Revenues
|
Operating Income
|
Ordinary Income
|
Net Income
|
|
|
millions of yen
|
%
|
millions of yen
|
%
|
millions of yen
|
%
|
millions of yen
|
%
|
|
First Six Months
Ended September 2009
|
66,209
|
(-35.6)
|
18,375
|
(107.1)
|
17,619
|
(176.7)
|
16,982
|
(240.9)
|
|
First Six Months
Ended September 2008
|
102,764
|
( - )
|
8,872
|
( - )
|
6,368
|
( - )
|
4,982
|
( - )
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
per Share
|
Net Income
per Share-diluted
|
|
|
|
|
|
|
yen
|
yen
|
|
|
|
|
|
First Six Months
Ended September 2009
|
125.87
|
105.02
|
|
|
|
|
|
First Six Months
Ended September 2008
|
36.30
|
-
|
|
|
|
|
(2) Consolidated Financial Position
|
|
Total Assets
|
Net Assets
|
Shareholders'
Equity Ratio
|
Net Assets
per Share
|
|
|
millions of yen
|
millions of yen
|
%
|
yen
|
|
Second Quarter
Ended September 2009
|
835,928
|
164,929
|
19.7
|
1,221.00
|
|
Fiscal Year Ended March 2009
|
958,464
|
149,648
|
15.6
|
1,108.12
|
Note: Shareholders' Equity
|
Second quarter ended September 2009
|
164,737
|
millions of yen
|
|
Fiscal year ended March 2009
|
149,507
|
millions of yen
|
2. Dividends
|
|
Dividends per Share
|
|
|
First Quarter
|
Second Quarter
|
Third Quarter
|
Fourth Quarter
|
Total
|
|
|
yen
|
yen
|
yen
|
yen
|
yen
|
|
Fiscal Year Ended
March 2009
|
-
|
30.00
|
-
|
20.00
|
50.00
|
|
Fiscal Year Ending March 2010
|
-
|
15.00
|
|
|
|
|
Fiscal Year Ending March 2010(Forecasts)
|
|
|
-
|
15.00
|
30.00
|
Note: Revision of dividends forecasts during the quarter: None
3. Forecasts of Consolidated Operating Results for the Fiscal Year Ending March 31, 2010
(from April 1, 2009 to March 31, 2010)
Note: The percentage figures show year-on-year changes.
|
|
Operating Revenues
|
Operating Income
|
Ordinary Income
|
|
|
millions of yen
|
%
|
millions of yen
|
%
|
millions of yen
|
%
|
|
Full Year
|
118,700
|
(-36.3)
|
13,300
|
( - )
|
13,700
|
( - )
|
|
|
Net Income
|
Net Income per Share
|
|
|
millions of yen
|
%
|
yen
|
|
Full Year
|
13,000
|
( - )
|
96.35
|
Note: Revision of consolidated operating results forecasts during the quarter: None
4. Others
(1) Changes of Significant Subsidiaries in the Second Quarter (Changes in Scope of Consolidation): None
(2) Adoption of Simple Method in Accounting and Adoption of Particular Accounting Method for Consolidated Quarterly Financial Statements: Yes
(Refer to the detail of "4. Others" on page 4 of "Qualitative Information and Financial Statements")
(3) Changes in Accounting Method for Consolidated Quarterly Financial Statements (Significant Accounting Policies for Consolidated Quarterly Financial Statements)
A. Changes in accordance with revision of accounting standard: None
B. Other changes: None
(4) Number of Shares Issued (Common Stock)
A. Number of shares issued (including treasury stock)
|
Second quarter ended September 2009
|
144,295,200
|
Shares
|
|
Fiscal year ended March 2009
|
144,295,200
|
Shares
|
B. Treasury stocks
|
Second quarter ended September 2009
|
9,375,390
|
Shares
|
|
Fiscal year ended March 2009
|
9,375,385
|
Shares
|
C. Average number of shares (Consolidated first six months)
|
First six months ended September 2009
|
134,919,813
|
Shares
|
|
First six months ended September 2008
|
137,234,943
|
Shares
|
* Explanatory note and remarks regarding performance forecasts
Forward-looking statements such as forecasts of operating results and others contained in this Brief Statement of Financial Results are based on beliefs in light of information currently available as of the date of this announcement and management's assumptions considered reasonable. Final business results may differ greatly from the forecasts above as a result of various factors and future events. Please refer to "3. Qualitative Information on Forecasts of Consolidated Operating Results" on page 4 of "Qualitative Information and Financial Statements" for the assumptions adopted and precantion for use of the forecasts.
Qualitative Information and Financial Statements
1. Qualitative Information on Consolidated Business Performance
The Japanese economy continued to struggle during the consolidated first six months under review. While personal spending was still generally weak as capital investment declines and the employment and income environments became increasingly difficult following the global turmoil in the financial markets, economic conditions were turning upward due to improvement in government spending, exports and production.
The consumer finance sector is under pressure to adjust its earnings structure, for instance by adopting stricter lending criteria and more efficient operation in anticipation of the full enforcement of the revised Money Lending Business Law. The operating environment for the industry remains severe, with high numbers of interest refund claims, the single largest factor squeezing profits.
In this environment, TAKEFUJI CORPORATION and its subsidiaries ("the Group") are not only adopting the benecere strategy to improve asset quality; it is also proceeding with a reorganization to strengthen the loan administration function, to increase business efficiency and to reduce cost. Our aim is to comprehensively adhere to our founding "Customer First" philosophy to ensure the stability of profits of those who have in financial demands. We also continue to focus on enhancing revenues by improving customer satisfaction and convenience, based on an understanding that it is the mission of a nonbank financial company to meet the healthy financial needs as much as possible.
As a result of above initiatives, operating revenues for the consolidated first six months under review were 66,209 million yen (down 35.6% year-on-year), and ordinary income was 17,619 million yen (up 176.7%), partly reflecting a response to all refund claims, which remain high, by reversal of the allowance. Net income was 16,982 million yen (up 240.9%).
2. Qualitative Information on Consolidated Financial Condition
Total assets at the end of the second quarter under review on a consolidated basis was 835,928 million yen, down 122,536 million yen compared to that of the end of the previous consolidated fiscal year. This was mainly because of a decrease in direct cash loans to customers of 112,579 million yen and a fall in short-term loans receivable of 34,992 million yen.
As for liabilities, the amount decreased to 670,999 million yen, by 137,817 million yen compared to that of the end of the previous consolidated fiscal year. This was mainly due to a decrease in allowance for losses for refund of interest received from customers of 54,860 million yen due to responding to refund claims of interest and a decrease in long-term borrowings of 88,722 million yen.
Regarding net assets, the amount increased to 164,929 million yen, by 15,281 million yen compared to that of the end of the previous consolidated fiscal year mainly due to an increase in retained earnings of 14,284 million yen. Consequently, shareholders' equity ratio was 19.7%, up 4.1 point compared to that of the end of the previous consolidated fiscal year.
(The situation of consolidated cash flows)
Cash and cash equivalent at the end of the second quarter under review on a consolidated basis (hereinafter called "the Funds") was 59,146 million yen, down 38,716 million yen compared to that of the end of the previous consolidated fiscal year.
Each cash flow situation and factors were as follows:
(Net cash provided by operating activities)
The Funds provided by operating activities were 33,486 million yen (71,948 million yen was provided in the previous year's same period). The principal sources of these cash flows were as follows; 49,094 million yen (previously 103,595 million yen) for direct cash loans made to customers and 108,357 million yen (previously 159,936 million yen) for direct cash loans collected from customers based on our core business of consumer finance.
(Net cash used in investing activities)
The Funds used in investing activities were 1,212 million yen (488 million yen was used in the previous year's same period). The principal sources of these cash flows were as follows; 764 million yen (previously 1,660 million yen) for the purchase of tangible and intangible fixed assets, and 1,216 million yen (previously 76 million yen) for the purchase of investment securities.
(Net cash used in financing activities)
The Funds used in financing activities were 69,887 million yen ( 82,878 million yen was used in the previous year's same period). The principal sources of these cash flows were as follows; 61,349 million yen (previously 144,160 million yen) for repayment of long-term borrowings, 5,841 million yen for redemption of bonds (previously 70,000 million yen for proceeds from issuance of bonds) and 2,697 million yen (previously 12,374 million yen) for cash dividends paid.
3. Qualitative Information on Forecasts of Consolidated Operating Results
There is no change to Forecasts of Consolidated Operating Results for the Fiscal Year Ending March 31, 2010 and Non-consolidated Forecast for the Fiscal Year Ending March 31, 2010, both announced on May 14, 2009.
4. Others
(1) Changes of Significant Subsidiaries in the Second Quarter (Changes in Scope of Consolidation)
None
(2) Adoption of Simple Method in Accounting and Adoption of Particular Accounting Method for Consolidated Quarterly Financial Statements
A. Calculation Method of Write-off Estimate for Normal Loans
As there is no significant change between the credit loss ratio at the end of the consolidated quarter under review and the credit loss ratio at the end of the previous consolidated fiscal year, the write-off estimate is calculated based upon the credit loss ratio at the end of the previous consolidated fiscal year.
B. Calculation Method of Fixed Assets Depreciation and Amortization
As for assets adopting declining-balance method, the amount of depreciation and amortization is allocated based on related duration.
(3) Changes in Accounting Method for Consolidated Quarterly Financial Statements
None
5. Second Quarter Consolidated Financial Statements
(1) Second Quarter Consolidated Balance Sheets
(millions of yen)
|
|
Current Second Quarter
as of Sep. 30, 2009
|
Previous Fiscal Year
as of Mar. 31, 2009
|
|
Assets:
|
|
|
|
Current assets
|
|
|
|
Cash and deposits
|
44,147
|
47,871
|
|
Direct cash loans to customers
|
748,938
|
861,517
|
|
Short-term loans receivable
|
14,999
|
49,992
|
|
Other current assets
|
43,870
|
24,156
|
|
Allowance for credit losses
|
-85,487
|
-96,994
|
|
Total current assets
|
766,467
|
886,541
|
|
Fixed assets
|
|
|
|
Tangible fixed assets
|
44,894
|
45,195
|
|
Intangible fixed assets
|
4,783
|
5,174
|
|
Investments and other assets
|
19,784
|
21,554
|
|
Total fixed assets
|
69,461
|
71,923
|
|
Total assets
|
835,928
|
958,464
|
(millions of yen)
|
|
Current Second Quarter
as of Sep. 30, 2009
|
Previous Fiscal Year
as of Mar. 31, 2009
|
|
Liabilities:
|
|
|
|
Current liabilities
|
|
|
|
Current portion of long-term borrowings
|
118,969
|
91,595
|
|
Income taxes payable
|
256
|
461
|
|
Allowance for bonuses
|
545
|
639
|
|
Other current liabilities
|
17,632
|
31,478
|
|
Total current liabilities
|
137,402
|
124,173
|
|
Fixed liabilities
|
|
|
|
Bonds payable
|
82,462
|
88,567
|
|
Convertible bond-type bonds with subscription rights to shares
|
70,000
|
70,000
|
|
Long-term borrowings
|
26,857
|
115,579
|
|
Allowance for losses for refund
of interest received from customers
|
348,497
|
403,357
|
|
Allowance for retirement benefits of employees
|
3,797
|
3,610
|
|
Allowance for retirement benefits of directors and corporate auditors
|
157
|
147
|
|
Other fixed liabilities
|
1,826
|
3,382
|
|
Total fixed liabilities
|
533,597
|
684,642
|
|
Total liabilities
|
670,999
|
808,816
|
|
Net assets:
|
|
|
|
Shareholders' equity
|
|
|
|
Capital stock
|
30,478
|
30,478
|
|
Capital surplus
|
52,263
|
52,263
|
|
Retained earnings
|
120,045
|
105,761
|
|
Treasury stock
|
-36,469
|
-36,469
|
|
Total shareholders' equity
|
166,318
|
152,034
|
|
Valuation and foreign currency translation adjustments
|
|
|
|
Valuation difference on available-for-sale securities
|
-1,026
|
-1,943
|
|
Foreign currency translation adjustments
|
-554
|
-584
|
|
Total valuation and foreign currency translation adjustments
|
-1,580
|
-2,527
|
|
Subscription rights to shares
|
192
|
141
|
|
Total net assets
|
164,929
|
149,648
|
|
Total liabilities and net assets
|
835,928
|
958,464
|
(2) Second Quarter Consolidated Statements of Income
|
|
Previous First Six Months
Ended Sep. 30, 2008
(from Apr. 1, 2008 to Sep. 30, 2008)
|
Current First Six Months
Ended Sep. 30, 2009
(from Apr. 1, 2009 to Sep. 30, 2009)
|
|
Operating revenues
|
|
|
|
Interest income on direct cash loans
|
98,747
|
63,259
|
|
Credit card revenues
|
36
|
30
|
|
Other financial revenues
|
1,392
|
62
|
|
Other operating revenues
|
2,588
|
2,858
|
|
Total operating revenues
|
102,764
|
66,209
|
|
Operating expenses
|
|
|
|
Financial expenses
|
10,544
|
6,125
|
|
Other operating expenses
|
|
|
|
Provisions for credit losses
|
29,708
|
20,897
|
|
Provisions for losses for refund of interest received from customers
|
28,067
|
-
|
|
Other
|
25,572
|
20,811
|
|
Total other operating expenses
|
83,347
|
41,708
|
|
Total operating expenses
|
93,892
|
47,833
|
|
Operating income
|
8,872
|
18,375
|
|
Non-operating income
|
|
|
|
Dividends income
|
434
|
171
|
|
Interest on income taxes refund
|
128
|
-
|
|
Miscellaneous income
|
159
|
265
|
|
Total non-operating income
|
721
|
436
|
|
Non-operating expenses
|
|
|
|
Bond issuance cost
|
1,798
|
-
|
|
Foreign exchange losses
|
522
|
1,109
|
|
Option fees
|
877
|
-
|
|
Miscellaneous loss
|
29
|
83
|
|
Total non-operating expenses
|
3,226
|
1,192
|
|
Ordinary income
|
6,368
|
17,619
|
|
Extraordinary income
|
|
|
|
Gain on sales of investment securities
|
670
|
475
|
|
Gain on redemption of bonds
|
-
|
754
|
|
Gain on sales of noncurrent assets
|
-
|
15
|
|
Total extraordinary income
|
670
|
1,245
|
|
Extraordinary loss
|
|
|
|
Loss on devaluation of investment securities
|
348
|
654
|
|
Loss on sales of investment securities
|
3
|
519
|
|
Impairment loss
|
93
|
-
|
|
Loss on closing of branch offices
|
162
|
373
|
|
Loss on commitment facility cancellation
|
2,165
|
-
|
|
Other extraordinary loss
|
-
|
151
|
|
Total extraordinary loss
|
2,771
|
1,697
|
|
Income before income taxes
|
4,267
|
17,167
|
|
Income taxes-current
|
390
|
184
|
|
Income taxes-deferred
|
-1,104
|
1
|
|
Total income taxes
|
-715
|
185
|
|
Net income
|
4,982
|
16,982
|
(millions of yen)
(3) Second Quarter Consolidated Statements of Cash Flows
(millions of yen)
|
|
Previous First Six Months
Ended Sep. 30, 2008
(from Apr. 1, 2008 to Sep. 30, 2008)
|
Current First Six Months
Ended Sep. 30, 2009
(from Apr. 1, 2009 to Sep. 30, 2009)
|
|
Net cash provided by operating activities
|
|
|
|
Income before income taxes
|
4,267
|
17,167
|
|
Impairment loss
|
93
|
-
|
|
Increase or decrease in allowance for retirement benefits of employees
|
180
|
187
|
|
Increase or decrease in allowance for retirement benefits of directors and corporate auditors
|
-10
|
10
|
|
Increase or decrease in allowance for credit losses
|
2,830
|
-11,507
|
|
Increase or decrease in allowance for losses for refund of interest received from customers
|
-53,018
|
-54,860
|
|
Write-offs
|
26,878
|
32,404
|
|
Interest repaid (portion of principal impaired)
|
28,471
|
20,946
|
|
Interest and dividends income
|
-434
|
-171
|
|
Gain or loss on sales of property, plant and equipment
|
-
|
-15
|
|
Loss on closing of branch offices
|
162
|
10
|
|
Gain or loss on sales of short-term and long-term investment securities
|
-667
|
44
|
|
Direct cash loans made to customers
|
-103,595
|
-49,094
|
|
Direct cash loans collected from customers
|
159,936
|
108,357
|
|
Other
|
2,491
|
-30,043
|
|
Subtotal
|
67,583
|
33,435
|
|
Interest and dividends income received
|
434
|
171
|
|
Income taxes paid
|
-321
|
-393
|
|
Income taxes refund
|
4,251
|
274
|
|
Net cash provided by operating activities
|
71,948
|
33,486
|
(millions of yen)
|
|
Previous First Six Months
Ended Sep. 30, 2008
(from Apr. 1, 2008 to Sep. 30, 2008)
|
Current First Six Months
Ended Sep. 30, 2009
(from Apr. 1, 2009 to Sep. 30, 2009)
|
|
Net cash used by investing activities
|
|
|
|
Purchase of tangible fixed assets
|
-242
|
-363
|
|
Purchase of intangible fixed assets
|
-1,417
|
-401
|
|
Proceeds from sales of property, plant and equipment
|
-
|
31
|
|
Purchase of investment securities
|
-76
|
-1,216
|
|
Proceeds from sales of investment securities
|
1,224
|
84
|
|
Other
|
24
|
654
|
|
Net cash used by investing activities
|
-488
|
-1,212
|
|
Net cash used by financing activities
|
|
|
|
Proceeds from long-term borrowings
|
6,200
|
-
|
|
Repayments of long-term borrowings
|
-144,160
|
-61,349
|
|
Proceeds from issuance of bonds with subscription rights to shares
|
70,000
|
-
|
|
Purchase of treasury stock
|
-2,544
|
-0
|
|
Repayments for redemption of bonds
|
-
|
-5,841
|
|
Cash dividends paid
|
-12,374
|
-2,697
|
|
Net cash used by financing activities
|
-82,878
|
-69,887
|
|
Effect of exchange rate changes on cash and cash equivalents
|
481
|
-1,103
|
|
Net increase or decrease in cash and cash equivalents
|
-10,936
|
-38,716
|
|
Cash and cash equivalents at the beginning of the period
|
153,471
|
97,862
|
|
Cash and cash equivalents at the end of the period
|
142,535
|
59,146
|
(4) Notes on the Going-concern Assumption
None
(5) Notes in Case of Significant Changes in the Amount of Shareholders' Equity
None
[Reference]
Second Quarter Non-consolidated Financial Statements
(1) Second Quarter Non-consolidated Balance Sheets
(millions of yen)
|
|
Current Second Quarter
as of Sep. 30, 2009
|
Previous Fiscal Year
as of Mar. 31, 2009
|
|
Assets:
|
|
|
|
Current assets
|
|
|
|
Cash and deposits
|
42,798
|
42,935
|
|
Direct cash loans to customers
|
748,938
|
861,517
|
|
Short-term loans receivable
|
15,549
|
49,992
|
|
Other current assets
|
43,797
|
24,102
|
|
Allowance for credit losses
|
-85,487
|
-96,994
|
|
Total current assets
|
765,594
|
881,552
|
|
Fixed assets
|
|
|
|
Tangible fixed assets
|
32,346
|
32,655
|
|
Intangible fixed assets
|
4,779
|
5,171
|
|
Investments and other assets
|
54,901
|
57,714
|
|
Total fixed assets
|
92,026
|
95,540
|
|
Total assets
|
857,620
|
977,092
|
(millions of yen)
|
|
Current Second Quarter
as of Sep. 30, 2009
|
Previous Fiscal Year
as of Mar. 31, 2009
|
|
Liabilities:
|
|
|
|
Current liabilities
|
|
|
|
Short-term borrowings
|
27,079
|
23,884
|
|
Current portion of long-term borrowings
|
118,969
|
91,595
|
|
Income taxes payable
|
100
|
204
|
|
Allowance for bonuses
|
544
|
638
|
|
Other current liabilities
|
17,638
|
31,485
|
|
Total current liabilities
|
164,330
|
147,806
|
|
Fixed liabilities
|
|
|
|
Bonds payable
|
82,462
|
88,567
|
|
Convertible bond-type bonds with subscription rights to shares
|
70,000
|
70,000
|
|
Long-term borrowings
|
26,857
|
115,579
|
|
Allowance for losses for refund
of interest received from customers
|
348,497
|
403,357
|
|
Allowance for retirement benefits of employees
|
3,791
|
3,605
|
|
Allowance for retirement benefits of directors and corporate auditors
|
157
|
147
|
|
Other fixed liabilities
|
1,810
|
3,371
|
|
Total fixed liabilities
|
533,574
|
684,626
|
|
Total liabilities
|
697,904
|
832,432
|
|
Net assets:
|
|
|
|
Shareholders' equity
|
|
|
|
Capital stock
|
30,478
|
30,478
|
|
Capital surplus
|
52,263
|
52,263
|
|
Retained earnings
|
113,796
|
99,787
|
|
Treasury stock
|
-36,469
|
-36,469
|
|
Total shareholders' equity
|
160,069
|
146,059
|
|
Valuation and foreign currency translation adjustments
|
|
|
|
Valuation difference on available-for-sale securities
|
-545
|
-1,541
|
|
Total valuation and foreign currency translation adjustments
|
-545
|
-1,541
|
|
Subscription rights to shares
|
192
|
141
|
|
Total net assets
|
159,716
|
144,659
|
|
Total liabilities and net assets
|
857,620
|
977,092
|
Note: The quarterly balance sheets are prepared based upon quarterly financial statements rules. However, it is not subject to review for statutory disclosure.
(2) Second Quarter Non-consolidated Statements of Income
(millions of yen)
|
|
Previous First Six Months
Ended Sep. 30, 2008
(from Apr. 1, 2008 to Sep. 30, 2008)
|
Current First Six Months
Ended Sep. 30, 2009
(from Apr. 1, 2009 to Sep. 30, 2009)
|
|
Operating revenues
|
|
|
|
Interest income on direct cash loans
|
98,747
|
63,259
|
|
Credit card revenues
|
36
|
30
|
|
Other financial revenues
|
1,371
|
58
|
|
Other operating revenues
|
2,170
|
2,442
|
|
Total operating revenues
|
102,324
|
65,789
|
|
Operating expenses
|
|
|
|
Financial expenses
|
10,814
|
6,412
|
|
Other operating expenses
|
83,117
|
41,462
|
|
Total operating expenses
|
93,931
|
47,874
|
|
Operating income
|
8,393
|
17,915
|
|
Non-operating income
|
|
|
|
Dividends income
|
278
|
171
|
|
Interest on income taxes refund
|
128
|
-
|
|
Miscellaneous income
|
205
|
263
|
|
Total non-operating income
|
612
|
434
|
|
Non-operating expenses
|
|
|
|
Bond issuance cost
|
1,798
|
-
|
|
Foreign exchange losses
|
555
|
1,057
|
|
Option fees
|
877
|
-
|
|
Miscellaneous loss
|
28
|
83
|
|
Total non-operating expenses
|
3,259
|
1,139
|
|
Ordinary income
|
5,746
|
17,209
|
|
Extraordinary income
|
|
|
|
Gain on sales of investment securities
|
478
|
475
|
|
Gain on redemption of bonds
|
-
|
754
|
|
Gain on sales of noncurrent assets
|
-
|
15
|
|
Total extraordinary income
|
478
|
1,245
|
|
Extraordinary loss
|
|
|
|
Loss on devaluation of investment securities
|
348
|
634
|
|
Loss on sales of investment securities
|
3
|
519
|
|
Impairment loss
|
93
|
-
|
|
Loss on closing of branch offices
|
162
|
373
|
|
Loss on commitment facility cancellation
|
2,165
|
-
|
|
Other extraordinary loss
|
-
|
151
|
|
Total extraordinary loss
|
2,771
|
1,677
|
|
Income before income taxes
|
3,453
|
16,777
|
|
Income taxes-current
|
102
|
69
|
|
Income taxes-deferred
|
-1,105
|
-
|
|
Total income taxes
|
-1,004
|
69
|
|
Net income
|
4,456
|
16,708
|
Note: The quarterly statements of income are prepared based upon quarterly financial statements rules. However, it is not subject to review for statutory disclosure.
6. Other Information
(1) Actual Operating Results (Consolidated)
A. Break-down of Operating Revenues
|
Sources of revenues
|
Previous First Six Months
Ended Sep. 30, 2008
(from Apr. 1, 2008
to Sep. 30, 2008)
|
Current First Six Months
Ended Sep. 30, 2009
(from Apr. 1, 2009
to Sep. 30, 2009)
|
Previous Fiscal Year
(from Apr. 1, 2008
to Mar. 31, 2009)
|
|
Amount
(millions of yen)
|
Compo-
sition Ratio(%)
|
Amount
(millions of yen)
|
Compo-
sition Ratio(%)
|
Amount
(millions of yen)
|
Compo-
sition Ratio(%)
|
|
Interest income on direct cash loans
|
Unsecured loans
|
98,747
|
96.1
|
63,259
|
95.5
|
178,337
|
95.7
|
|
Credit card revenues
|
Credit card
|
36
|
0.0
|
30
|
0.1
|
69
|
0.0
|
|
Other financial revenues
|
Interest on bank deposits
|
300
|
0.3
|
35
|
0.1
|
461
|
0.2
|
|
Interest on loans other than direct cash loans
|
199
|
0.2
|
27
|
0.0
|
329
|
0.2
|
|
Other (Note 1)
|
893
|
0.9
|
-
|
-
|
1,822
|
1.0
|
|
Subtotal
|
1,392
|
1.4
|
62
|
0.1
|
2,611
|
1.4
|
|
Other operating revenues
|
Collection from bad debts previously written-off
|
1,563
|
1.5
|
1,848
|
2.8
|
3,235
|
1.8
|
|
Real estate rent income
|
499
|
0.5
|
461
|
0.7
|
993
|
0.5
|
|
Other (Note 2)
|
526
|
0.5
|
549
|
0.8
|
1,104
|
0.6
|
|
Subtotal
|
2,588
|
2.5
|
2,858
|
4.3
|
5,331
|
2.9
|
|
Total
|
102,764
|
100.0
|
66,209
|
100.0
|
186,349
|
100.0
|
Notes: 1. "Other" in other financial revenues mainly consist of interest received from interest swap transaction.
2. "Other" in other operating revenues mainly consist of parking lots fees and golf course play fees.
B. Other Highlights Data
|
Items
|
Previous Second Quarter
as of Sep. 30, 2008
|
Current Second Quarter
as of Sep. 30, 2009
|
Previous Fiscal Year
as of Mar. 31, 2009
|
|
Direct cash loans to customers
(millions of yen)
|
1,083,764
|
748,938
|
861,517
|
|
|
Unsecured loans
|
1,083,764
|
748,938
|
861,517
|
|
|
Secured loans
|
-
|
-
|
-
|
|
Installment receivables (millions of yen)
|
576
|
417
|
465
|
|
Number of loan customer accounts
|
1,707,798
|
1,351,238
|
1,480,683
|
|
|
Unsecured loans
|
1,707,798
|
1,351,238
|
1,480,683
|
|
|
Secured loans
|
-
|
-
|
-
|
|
Number of credit card membership
|
294,919
|
260,025
|
275,684
|
|
Number of branch offices
|
1,458
|
1,034
|
1,051
|
|
|
Manned
|
317
|
180
|
210
|
|
|
Unmanned (including Automatic quick loan application machines)
|
1,140
|
853
|
840
|
|
|
Internet branch office
|
1
|
1
|
1
|
|
Number of unmanned loan contract machines (including Automatic quick loan application machines)
|
1,458
|
1,034
|
1,051
|
|
Number of cash dispensers and ATMs
|
54,348
|
55,646
|
54,904
|
|
|
Owned
|
1,572
|
1,136
|
1,161
|
|
|
Tie-up
|
52,776
|
54,510
|
53,743
|
|
Number of employees
|
2,618
|
2,344
|
2,434
|
|
Write-offs (millions of yen)
|
26,878
|
32,404
|
144,404
|
|
Interest repaid (portion of principal impaired) (millions of yen)
|
28,471
|
20,946
|
67,531
|
|
Allowance for credit losses
(millions of yen)
|
146,828
|
85,487
|
96,994
|
(2) Actual Operating Results (Non-consolidated)
A. Break-down of Operating Revenues
|
Sources of revenues
|
Previous First Six Months
Ended Sep. 30, 2008
(from Apr. 1, 2008
to Sep. 30, 2008)
|
Current First Six Months
Ended Sep. 30, 2009
(from Apr. 1, 2009
to Sep. 30, 2009)
|
Previous Fiscal Year
(from Apr. 1, 2008
to Mar. 31, 2009)
|
|
Amount
(millions of yen)
|
Compo-
sition Ratio(%)
|
Amount
(millions of yen)
|
Compo-
sition Ratio(%)
|
Amount
(millions of yen)
|
Compo-
sition Ratio(%)
|
|
Interest income on direct cash loans
|
Unsecured loans
|
98,747
|
96.5
|
63,259
|
96.2
|
178,337
|
96.2
|
|
Credit card revenues
|
Credit card
|
36
|
0.0
|
30
|
0.0
|
69
|
0.0
|
|
Other financial revenues
|
Interest on bank deposits
|
279
|
0.3
|
32
|
0.1
|
427
|
0.2
|
|
Interest on loans other than direct cash loans
|
199
|
0.2
|
27
|
0.0
|
329
|
0.2
|
|
Other (Note 1)
|
893
|
0.9
|
-
|
-
|
1,822
|
1.0
|
|
Subtotal
|
1,371
|
1.4
|
58
|
0.1
|
2,578
|
1.4
|
|
Other operating revenues
|
Collection from bad debts previously written-off
|
1,563
|
1.5
|
1,848
|
2.8
|
3,235
|
1.8
|
|
Real estate rent income
|
499
|
0.5
|
461
|
0.7
|
993
|
0.5
|
|
Other (Note 2)
|
108
|
0.1
|
133
|
0.2
|
232
|
0.1
|
|
Subtotal
|
2,170
|
2.1
|
2,442
|
3.7
|
4,459
|
2.4
|
|
Total
|
102,324
|
100.0
|
65,789
|
100.0
|
185,443
|
100.0
|
Notes: 1. "Other" in other financial revenues mainly consist of interest received from interest swap transaction.
2. "Other" in other operating revenues mainly consist of fee received.
B. Other Highlights Data
|
Items
|
Previous Second Quarter
as of Sep. 30, 2008
|
Current Second Quarter
as of Sep. 30, 2009
|
Previous Fiscal Year
as of Mar. 31, 2009
|
|
Direct cash loans to customers
(millions of yen)
|
1,083,764
|
748,938
|
861,517
|
|
|
Unsecured loans
|
1,083,764
|
748,938
|
861,517
|
|
|
Secured loans
|
-
|
-
|
-
|
|
Installment receivables (millions of yen)
|
576
|
417
|
465
|
|
Number of loan customer accounts
|
1,707,798
|
1,351,238
|
1,480,683
|
|
|
Unsecured loans
|
1,707,798
|
1,351,238
|
1,480,683
|
|
|
Secured loans
|
-
|
-
|
-
|
|
Number of credit card membership
|
294,919
|
260,025
|
275,684
|
|
Number of branch offices
|
1,458
|
1,034
|
1,051
|
|
|
Manned
|
317
|
180
|
210
|
|
|
Unmanned (including Automatic quick loan application machines)
|
1,140
|
853
|
840
|
|
|
Internet branch office
|
1
|
1
|
1
|
|
Number of unmanned loan contract machines (including Automatic quick loan application machines)
|
1,458
|
1,034
|
1,051
|
|
Number of cash dispensers and ATMs
|
54,348
|
55,646
|
54,904
|
|
|
Owned
|
1,572
|
1,136
|
1,161
|
|
|
Tie-up
|
52,776
|
54,510
|
53,743
|
|
Number of employees
|
2,598
|
2,324
|
2,415
|
|
Write-offs (millions of yen)
|
26,878
|
32,404
|
144,404
|
|
Interest repaid (portion of principal impaired) (millions of yen)
|
28,471
|
20,946
|
67,531
|
|
Allowance for credit losses
(millions of yen)
|
146,828
|
85,487
|
96,994
|
This information is provided by RNS
The company news service from the London Stock Exchange END IR CKPKQPBDKODK
|
|