Consolidated Results for the First Quarter of Fiscal 2003, the Year Ending March 31, 2004
2003-08-08
| Listed Stock Exchange: | The first sections of Tokyo, Osaka, and Nagoya Stock Exchange | | Headquarters: | Osaka | | Securities Code: | No.8003 | | Representative: | Mahito Kageyama, President | | Contact Information: | Koichi Koiwai, General Manager, Corporate Communications Office
Tel. (03)5288-2090 | | Adoption of accounting principles generally accepted in the United States of America: NA |
1. Items regarding Preparation for the Summary of the First Quarter Results | (1) | Regulations and standards complied with to prepare financial statements: those for preparation of interim period consolidated financial statements | | (2) | Difference in accounting methods from the recognition method adopted in the latest consolidated fiscal year:
None | | (3) | Changes in number of consolidated subsidiaries and companies under equity method | | Consolidated subsidiaries | June 30, 2003: 211 | March 31, 2003: 212 | | Unconsolidated subsidiaries under Equity Method | June 30, 2003: 2 | March 31, 2003: 2 | | Affiliated companies under Equity Method | June 30, 2003: 86 | March 31, 2003: 89 |
| | (4) | The results of the first quarter are not audited by independent public accountants. |
2. Consolidated Results for the First Quarter of Fiscal 2003
[April 1, 2003 through June 30, 2003]
Tomen began disclosure of the quarterly results from the first quarter of fiscal 2003 ended June 30, 2003. | (1) Consolidated Results of Operations | (Amounts less than 1 million yen were omitted) | | | Total Trading Transactions | Operating Income | Ordinary Profit | | | Millions of Yen | % | Millions of Yen | % | Millions of Yen | % | First Quarter of Fiscal 2003
(Apr.1, 2003-June 30, 2003) | 390,282 | - | 6,106 | - | 5,749 | - | First Quarter of Fiscal 2002
(Apr.1, 2002-June 30, 2002) | - | - | - | - | - | - | (Ref.) Fiscal 2002 ended
March 31, 2003 | 2,082,897 | | 25,661 | | 13,704 | |
|
| | Net Income | | | Millions of Yen | % | First Quarter of Fiscal 2003
(Apr.1, 2003-June 30, 2003) | 1,996 | - | First Quarter of Fiscal 2002
(Apr.1, 2002-June 30, 2002) | - | - | (Ref.) Fiscal 2002 ended
March 31, 2003 | -66,969 | |
(2)Consolidated Financial Position | | Total Assets | Shareholders' Equity | Shareholders' Equity Ratio | | | Millions of Yen | Millions of Yen | % | First Quarter of Fiscal 2003
(Apr.1, 2003-June 30, 2003) | 955,998 | 19,701 | 2.1 | First Quarter of Fiscal 2002
(Apr.1, 2002-June 30, 2002) | - | - | - | (Ref.) Fiscal 2002 ended
March 31, 2003 | 971,713 | 13,861 | 1.4 |
[Summary of Consolidated Results] Trading transactions by commodity for the first quarter of fiscal 2003 were as follows. | | (Millions of Yen) | | Chemicals: | 108,558 | | Produce & Foodstuffs: | 56,126 | | Textiles: | 53,374 | | Electronics: | 54,250 | | Machinery & Energy: | 104,223 | | Others: | 13,749 | | (Total: | 390,282) |
Operating income by commodity for the first quarter of fiscal 2003 was as follows. | | (Millions of Yen) | | Chemicals: | 3,646 | | Produce & Foodstuffs: | 2,196 | | Textiles: | 664 | | Electronics: | 1,688 | | Machinery & Energy: | -474 | | Others: | -188 | | (Elimination or consolidation | -1,425) | | (Total: | 6,106) |
Ordinary profit for the first quarter of fiscal 2003 was 5,749 million yen.
After adjustment by extraordinary profit and loss, income tax and loss from minority interest, net income for the first quarter of fiscal 2003 was 1,996 million yen. [Business Projections]
| (1) | Business projection of consolidated results for the interim period (April 1, 2003 - September 30, 2003):
Tomen Corporation estimates total trading transactions, ordinary profit and net income for the interim period will be 800 billion yen, 9.5 billion yen and 1.7 billion yen respectively, as announced on May 15, 2003. | | (2) | Business projection of consolidated results for the fiscal 2003 (April 1, 2003 - March 31, 2004):
Tomen Corporation estimates total trading transactions, ordinary profit and net income for the fiscal 2003 will be 1,550 billion yen, 20 billion yen and 3.5 billion yen respectively, as announced on May 15, 2003. | |
Note:
This report contains forward-looking statements, which reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those projected in the forward-looking statements due to factors such as changing economic environment, exchange rate fluctuations, and changes in competitive conditions as well as government regulations and litigation.Tomen Corporation and its consolidated domestic subsidiaries maintain their accounts and records in accordance with the provisions set forth in the Japanese Commercial Code and the Securities and Exchange Law and in conformity with accounting principles and practices generally accepted in Japan. The above statements are translated into English for the convenience of readers outside Japan. |
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