2Q FY2013
Earnings Presentation
2
(April 1 to September 30, 2013)
2Q FY2013
Consolidated Results
3
125.0%+3.3%3.2%
1,2053.1%
1,167Ordinary income
658
1,022
4,293
5,315
37,420
1H
FY12
1.8%
2.7%
11.5%
14.2%
100.0%
% of sales
+6.1%
+5.0%
+3.2%
+3.6%
+0.6%
Y-o-Y
% change
699
1,073
4,431
5,505
37,634
1H
Vs.
Forecast
% of sales
104.4%14.6%Gross profit
Net income
Operating income
SG & A Expenses
Net sales
1.9%
2.9%
11.8%
100.0%
FY13
128.3%
129.3%
99.8%
103.4%
Copyright© Furusato Industries, Ltd. All Rights Reserved
Consolidated ResultsRounded down to the nearest million yen
4
(6,000)0
6,00012,00018,00024,000Net sales
-50005001,0001,5002,000Operating incomeNet sales Operating income
Net sales 13,869 16,247 16,788 17,549 16,262 18,125 19,399 19,837 18,156 19,263 18,823 18,841 17,803 19,831 Operating income -207 289 288 396 286 593 609 724 308 713 621 569 294 7792010.1Q 2Q 3Q 4Q 2011.1Q 2Q 3Q 4Q 2012.1Q 2Q 3Q 4Q 2013.1Q 2QCopyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Consolidated ResultsNet sales・Operating Income Quarterly Base
5
114.1%(20.8)%1.8%
3332.2%
421
Equipment and Tools
355
191
1,022
11,158
7,391
18,869
37,420
1H
FY12
3.2%
2.6%
(% of sales)2.7%
29.8%
19.8%
50.4%
(Composition)100.0%
+74.7%
(46.2)%
+5.0%
+9.3%
(13.2)%
+0.8%
+0.6%
Y-o-Y
% change
103.5%50.6%
19,025
Equipment and Tools
98.7%17.0%
6,412
Machine and Facility
106.1%32.4%
12,196
Construction and Piping Products
621
103
1,073
37,634
1H
Vs.
Forecast
Construction and Piping Products
Machine and Facility
Operating income
Net sales
5.1%
1.6%
(% of sales)2.9%
(Composition)100.0%
FY13
163.5%
83.6%
129.3%
103.4%
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Consolidated Results by SegmentNet Sales・Operating Income
6
117.7116.4111.5107.6 111.1Preliminary107.6112.1Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.94.195.9101.3 99.1 97.8Preliminary94.7 96.1Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.
2012 2013
+0.3%Y-o-Y
7,152
2Q
Actual
6,450
1Q
Actual (9.2)%Y-o-Y
27,435
13,832
2H
Forecast
(2.0)%Total
13,603
1H
ActualY-o-YY-o-Y
Equipment and Tools
Business
Industrial Equipment
Net sales(4.4)% +0.5%
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Net Sales BreakdownIndustrial Equipment Business
BusinessIndustrial tools business of G-net (consolidated subsidiary): Wholesale of machines, industrial tools, parts, consumable supplies used for industrial production in Japan
Impacted by factory operating ratio of domestic manufacturing sector
MeasuringEquipment
FacilityEquipment
IndustrialRobot
Vise EnvironmentalEquipment
MotorCuttingTools
Major product line
Market Trend
Indices of industrial Production (Year 2005=100) Inventory ratio of industrial production (Year 2005 =100)
7
103.3112.0119.2118.0136.3Preliminary
112.3132.8
Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.95.4101.1111.7 109.8 102.9Preliminary103.0 103.6
Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.2012 2013Copyright© Furusato Industries, Ltd. All Rights Reserved
+13.9%Y-o-Y
1,201
2Q
Actual
1,245
1Q
Actual +4.5%Y-o-Y
4,944
2,497
2H
Forecast
+4.3%Total
2,447
1H
ActualY-o-YY-o-Y
Equipment and
Tools Business
Machine and Tools for AutomotiveNet sales
+8.9% +0.2%Rounded down to the nearest million yen
Net Sales BreakdownMachine and Tools for Automotive Business
BusinessOverall businesses of Gifu Shoji (consolidated subsidiary), Direct sales of machinery and industrial tools to the automotive industry mainly in Chubu region
Impacted by business trend of the automotive industry
Major product line
Machine ToolsCutting Tools
Production of Motor Vehicle Parts(Year 2005=100) Inventory Ratio of Motor Vehicle Parts(Year 2005=100)MarketTrend
8
240
227
199
215
257209
241
Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.20122013
Copyright© Furusato Industries, Ltd. All Rights Reserved
+27.7%Y-o-Y
1,236
2Q
Actual
1,229
1Q
Actual +24.2%Y-o-Y
4,942
2,476
2H
Forecast
+12.4%Total
2,466
1H
ActualY-o-YY-o-Y
Equipment and
Tools Business
Housing Equipment
Net sales+25.9% +1.5%
Rounded down to the nearest million yen
Net Sales BreakdownHousing Equipment Business
Business
Impacted by trend of new construction starts of houses and consumer spending
Major product line
Kitchen
systems
Housing equipment system business of G-net (consolidated subsidiary): Wholesale of housing equipments used for new construction and remodel
Bath
equipments
Gas
appliances
MarketTrend
Leading indicatorNew Construction Starts of Houses (K unit)
9
2,154
2,171
2,262
2,200
2,153
2,299
Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.2012
2013
83
92
97
101
110
84
88
Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.Copyright© Furusato Industries, Ltd. All Rights Reserved
(16.6)%Y-o-Y
2,750
2Q
Actual
2,532
1Q
Actual (10.4)%Y-o-Y
10,981
5,698
2H
Forecast
(1.8)%Total
5,283
1H
ActualY-o-YY-o-Y
Machine and
Facility Business
Machine Tool
Net sales(13.7)% +12.5%Rounded down to the nearest million yen
Net Sales BreakdownMachine Tool Business
Business
Impacted by investment in manufacturing facilities in Japan
Major product line
Machine business of G-net (consolidated subsidiary): Wholesale of machinery and facilities used for
industrial production in Japan
Machine Tools
Production facilities and machinery
Leading indicator Machinery orders (Private sector excluding volatile orders)(Billions of yen) Leading indicator Orders received for machine tools (Domestic order)(Billions of yen)Market
Trend
10Copyright© Furusato Industries, Ltd. All Rights Reserved
+2.5%Y-o-Y
666
2Q
Actual
462
1Q
Actual (25.0)%Y-o-Y
2,275
1,146
2H
Forecast
(24.3)%Total
1,129
1H
ActualY-o-YY-o-Y
Machine and
Facility Business
Factory Automation
Net sales(10.9)% (34.1)%
2,154
2,171
2,262
2,200
2,153
2,299
Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.2012
2013
83
92
97
101
110
84
88
Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.
Rounded down to the nearest million yen
Net Sales BreakdownFactory Automation Business
Business
Major product line
Machine Tools
Factory automation business of G-net (consolidated subsidiary): Direct sale of machines and facilitiesused for industrial production in Japan
Product facility and machinery
Leading indicator Machinery orders (Private sector excluding volatile orders)(Billions of yen) Leading indicator Orders received for machine tools (Domestic order)(Billions of yen)Market
Trend
Impacted by investment in manufacturing facilities in Japan
11
<Machine Tool Business Orders Received>
Copyright© Furusato Industries, Ltd. All Rights Reserved
3,128
5,241
Actual
FY12
% changeActualFacility Business
3,506
5,688
FY13
Orders received at year-end
1H Orders received
Machine and
+12.1%
+8.5%
Y-o-Y
Orders at year-end ⇒up 12%
(Orders at year-end ÷ Orders in 2H) 59.7%⇒61.6%(FY12) (FY13)
929
1,722
Actual
FY12
% changeActualFacility Business
642
1,724
FY13
Orders received at year-end
1H Orders received
Machine and
(30.9)%
+0.1%
Y-o-Y
<Factory Automation Business Orders Received>
Rounded down to the nearest million yen
Net Sales BreakdownMachine Tool
12120
122
102
114
140
118
137
Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.68.0068.3373.33 71.66 74.6670.00 71.00Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec.2012 2013 +9.1(3.5)+5.3Welding
Supplies
+19.9(0.6)+19.1High strength bolts
+8.1(0.2)+7.7Turnbuckle brace
VolumeUnit
price
Net sales1H sales
Copyright© Furusato Industries, Ltd. All Rights Reserved
+11.7%Y-o-Y
5,339
2Q
Actual
4,623
1Q
Actual +11.6%Y-o-Y
19,949
9,987
2H
Forecast
+8.8%Total
9,962
1H
ActualY-o-YY-o-Y
Construction and Piping ProductsBusiness
Steel Frame Building SuppliesNet sales
+11.7% +6.0%Rounded down to the nearest million yen
Net Sales BreakdownSteel Frame Building Supplies Business
Market Trend
Business
Impacted by investment in buildings in Japan
Major product line
Steel frame building supplies business of Furusato Industries: Direct sale of structural members, secondary supplies, machines and tools, consumable supplies
JIS Turnbuckle brace(Share 60%)High Strength Bolts(Share 20%)In-house
products26% of salesProcured supplies74% of sales
Machinery and tools
WeldingSuppliesLeading indicator
Volume of Steel Frame Used in Building(10Kt) Steel Product Prices (H-beam) (Yen)Unit selling price and volume Y-o-Y (%)
13Copyright© Furusato Industries, Ltd. All Rights Reserved
+2.7%Y-o-Y
1,212
2Q
Actual
1,021
1Q
Actual (3.2)%Y-o-Y
4,734
2,500
2H
Forecast
+5.0%Total
2,234
1H
ActualY-o-YY-o-Y
Construction and Piping ProductsBusiness
Piping ProductsNet sales
(0.1)% +9.9%
Forecast
Rounded down to the nearest million yen
Net Sales BreakdownPiping Products Business
Business
Major product line
Pipe fittings Flanges
Piping products business of Furusato Industries: Direct sales of pipe fittings, flanges, valves, volts, machinery and tools used for building piping facilities
Valve Fastening products
Machinery and tools
Weldingsupplies
Market Trend
! Aiming for a growth with the market share improvement regardless of the business environment due to starting the business from scratch
3.8
4.6
4.6
3.7
4.1
4.7
3.4
0.6
1.3
4.5
2.5FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13
Net sales (Unit:billions of yen)Impacted by investment in manufacturing facilities in Japan
14
FY13FY12
+138
+66
+33
+99
(4)
(4)
+47
+38
Y-o-Y
Change
+1.3%2,7122,678Personal expenses
Items
(8.9)%5055Other
+6.2%1,1301,064Other
+2.7%3,8433,743
General and administrative
expenses
(59.7)%37
Provision of allowance fordoubtful accounts
+9.8%535487Freightage and packing expenses
Items
Total selling, general and
administrative expenses
Selling expenses
4,293
550
1H
+3.2%
+7.0%
Y-o-Y% change
588
4,431
1H
(1.3)%(5)419424Machine and Facility
+37
+54
+52
-(15)(53)Other adjustment
+2.6%2,1232,068
Construction and PipingProducts
+2.8%1,9051,852Equipment and Tools
Items
Breakdown by segment
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Consolidated SG&A Expenses
15
-+2626-Gain on sales of investment securities
FY13FY12
-+55-Loss on retirement of noncurrent assets
+40
+18
+58
+5
+26
+38
Y-o-Y
Change
+3.7%527508Income taxes
+5.1%1,2261,167Income before income taxes
+3.3%1,2051,167Ordinary income
-5-Extraordinary loss
Net income
Extraordinary income
658
-
1H
+6.1%
-
Y-o-Y
% change
26
699
1H
■ 〔Net income per share〕 ¥48.18
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Consolidated Net Income
16
FY13FY12
+49.25
+0.7P
+640
+78
(224)
(145)
+727
(232)
+494
Y-o-Y
Change
―63.9%63.2%Net assets to total assets (%)
+2.1%30,68030,040Total net assets
(1.3)%16,42916,654Current liabilities
+9.4%916838Noncurrent liabilities
item
(0.8)%17,34617,492Total liabilities
+5.7%13,59912,872Noncurrent assets
(0.7)%34,42734,660Current assetsIte
m
Net assets per share
Total assets
¥2,066.57
47,532
Mar. 31, 2013
+2.4%
+1.0%
Y-o-Y% change
48,027
¥2,115.82
Sep. 30, 2013
■ 〔Current assets〕 Cash and deposits +593M, Notes and accounts receivable -952M
■ 〔Noncurrent assets〕 Construction in progress +419M, Investment securities +390M
■ 〔Current liabilities〕 Notes and accounts payable -109M, Income taxes payable -78M
■ 〔Net assets〕 Retained earnings +444M, Treasury stock -34M,
Valuation difference on available-for-sale securities +229M
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Consolidated Balance Sheet
17
Full-year FY2013
Consolidated Forecasts
18
+20.0%
+2.9%
+7.2%
+0.7%
+2.1%
+2.5%
Y-o-Y
% change
755
1,359
1,276
4,438
5,714
38,615
2H Forecast
Oct.-Mar.
+3.1%2,565
+3.3%1,205
Ordinary income
+12.9%
+6.2%
+2.0%
+2.8%
+1.6%
Y-o-Y
% change
+6.1%
+5.0%
+3.2%
+3.6%
+0.6%
Y-o-Y
% change
699
1,073
4,431
5,505
37,634
1H Actual
Apr.-Sep.
1,455
2,350
8,870
11,220
76,250
Full-year
Forecast
Apr.-Mar.
FY13
Gross profit
Net income
Operating income
SG & A Expenses
Net sales
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Consolidated Forecast 2H・Full-year
19
+12.4%4,942
+1.5%2,476
+25.9%2,466
Housing Equipment
+4.3%4,944
+0.2%2,497
+8.9%2,447
Machine and Toolsfor Automotive
(13.9)%772
(7.8)%438
(20.8)%333
Operating income
+8.3%173
(1.3)%96
+23.2%77
Overseas
(2.0)%27,435
+0.5%13,832
(4.4)%13,603
Industrial Equipment
+9.0%813
+0.6%383
+17.7%430
Other
+0.6%
Y-o-Y
% change
19,284
2H Forecast
Oct.-Mar.
+0.7%
Y-o-Y
% change
38,309+0.8%
19,025Net sales
Y-o-Y
% change
1H Actual
Apr.-Sep.
Full-year
Forecast
Apr.-Mar.
Equipment and
Tools Business
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Consolidated Forecast by SegmentEquipment and Tools Business
20
(29.7)%270
(13.3)%167
(46.2)%103
Operating income
(1.8)%10,981
+12.5%5,698
(13.7)%5,283
Machine Tool
(24.3)%2,275
(34.1)%1,146
(10.9)%1,129
Factory Automation
+0.6%
Y-o-Y
% change
6,844
2H Forecast
Oct.-Mar.
(6.6)%
Y-o-Y
% change
13,256(13.2)%
6,412Net sales
Y-o-Y
% change
1H Actual
Apr.-Sep.
Full-year
Forecast
Apr.-Mar.
Machine and
Facility Business
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Consolidated Forecast by SegmentMachine and Facility Business
21
+34.5%1,265
+10.1%643
+74.7%621
Operating income
+8.8%19,949
+6.0%9,987
+11.7%9,962
Steel FrameBuilding Supplies
+5.0%4,734
+9.9%2,500
(0.1)%2,234
Piping Products
+6.8%
Y-o-Y
% change
12,487
2H Forecast
Oct.-Mar.
+8.0%
Y-o-Y
% change
24,683+9.3%
12,196Net sales
Y-o-Y
% change
1H Actual
Apr.-Sep.
Full-year
Forecast
Apr.-Mar.
Construction and Piping Products Business
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Consolidated Forecast by SegmentConstruction and Piping Products Business
22
47.8310
22
3740 41
27.5
10 10
100.3088.1078.8237.55(89.58)109.64
163.92199.86184.37113.0022.5
20 25.525.525.525.5
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13(Forecast)
(Yen)EPS DividendStable payment Dividend payout ratio 20% Dividend payout ratio 25%
Copyright© Furusato Industries, Ltd. All Rights Reserved
Dividend Forecast
<Dividend Policy>■ Dividend payout ratio; Consolidated net income×25%
■ In case that the annual dividend per share based on the above dividend payout ratio isless than ¥10; Annual dividend per share ¥10
23
Future Trends
Statistics and Related Business
Copyright© Furusato Industries, Ltd. All Rights Reserved
Capital investmentCapital investment plan in FY13:
Large companies up 5.1%, Overall up 3.3%(Tankan survey in Sep.)
Orders received for machine tools (Domestic):
Jul.-Sep. up 18.9% Y-o-Y
Building starts by floor area (non-residential building):
Apr.-Sep. up 12.5% Y-o-Y
Production
Moderate increase expected based on improvement in exports and steady domestic demand (Monthly economic report in Oct.)
Projected production index of manufacturing industry:
Oct. up 4.7%, Nov. down 1.2% (vs. previous month)
Housing construction
Housing Starts:Apr.-Sep. up 12.6% Y-o-Y
⇒Machine Tool Business
⇒Steel Frame Building
Supplies Business
⇒Industrial Equipment
Business
⇒Housing Equipment
Business
Projected production index of transport equipment:Oct. up 2.4%, Nov. up 1.3% (vs. previous month)
⇒Machine and Tools
for Automotive Business
Upward trend to be continued for a while due to improvement in
employment and income situations and the last-minute surge in demand (Monthly economy report in Oct.)
24
Business Strategy
25
Drawing out potential needsPotential needs of users, Proposing improvement in convenience
Copyright© Furusato Industries, Ltd. All Rights Reserved
�Support tool for machine design
�Convert components and parts to CAD data
�Making lists of components and partsused in the design
�Automatic quotation and orders
Users:Improvement in convenience and productivity
(design and production engineering section, purchasing section)
Advantages for dealers:Differenciation by introduction of EG PARTSand improvement in productivity
Launch in 2014(Scheduled)
Business StrategyEquipment and Tools Business
26
⇒Proposing schemes which end-users are not aware of
◆ 「Easy Problem-Solving Catalog」 Environmental measure series vol.1-6
Copyright© Furusato Industries, Ltd. All Rights Reserved
◆ Providing overseas original products⇒Providing high cost-competitive products which end-users are not aware of
EX.Machine vise (Taiwan)⇒Realizing the quality equivalent to that of domestic products at a low price
EX.Processed products⇒Productivity improvementat production sites by lobar-saving in working process
Business StrategyEquipment and Tools Business
Drawing out potential needs
1. Energy-saving
factory air
2. Energy-saving
factory electricity
3. Energy-saving
factory hydraulic
pressure
4. Safety and health
in factory
5. Productivity improvement in factory(machining series) 6. Productivity
improvement in factory (Industrial built-in equipment series)
27
Reinforcing wholesale functionBoosting convenience for sales dealers
Web order system
TOKU Mori CatalogFocusing on consumable supplies and PB products
Copyright© Furusato Industries, Ltd. All Rights Reserved
Movie demonstration on tablet deviceApprox. 150 movies with a scenario availableMovie icon
●Cost advantage
●Convenience
●Labor savingEDI
Business StrategyEquipment and Tools Business
28
Reinforcing core fields●Machining Exhibition; Proposing productivity improvement and cost cutting to end-users
by comprehensive solution including latest machines and peripherals
Copyright© Furusato Industries, Ltd. All Rights Reserved
●Solution Fair;Proposing solution method and supplies focusing on environment and saving energy
●Mechatronics System Exhibition (Mechatronics solution exhibition);
Solution exhibition focusing on Industrial built-in equipments
Business StrategyMachine and Facility / Equipment and Tools Business
Practicing marketing-style proposals
29Copyright© Furusato Industries, Ltd. All Rights Reserved
Business Strategy
Overseas strategyOverseas business development; Established local companies as one of the service menus for users
・China:Suzho Retra Co.,Ltd.(Suzhon, Jiangsu)
Business Outline
●Sale of machine tools and peripheral equipments
●Sale of production automation related equipments
●Import, export and sale of supplies and equipments
・Thailand: Retra Engineering (Thailand ) Co., Ltd. (Chonburi)
30Copyright© Furusato Industries, Ltd. All Rights Reserved
Business StrategyConstruction and Piping Products Business
Enhancing one-stop shop functionAiming for enhancing a service system selected by users based on “Convenience” and “Credit”
Convenience
Credit
●Location:Near points of demand(Production, distribution, sales)
●Inventory: Standard items, immediate delivery possible
●Network:In-house delivery nationwide
●Product diversity:In-house production and
domestic and overseas supplier network
For customers “Just what is needed, only when needed, where needed and only in the amount needed”
●Quality:Quality control system for in-house productsand import items
●Responsibility:Fulfilling responsibilities to providersand suppliers
●Management:Original risk control system
●Specialty:Utilizing knowledge and know-how as a specialized company
To concerned parties “Pursuing convenience”
312007年年年年3月期月期月期月期 決算決算決算決算
www.furusato.co.jp/ir/
1-2-10, Minamishin-machi, Chuo-ku, Osaka
540-0024, Japan
TEL: 06-6946-9608 (Direct)
FAX: 06-6946-9780
E-mail : [email protected]
Copyright© Furusato Industries, Ltd. All Rights Reserved
Forward-Looking Statements
This material is solely for information purposes and should not be construed
as a solicitation. Although this material (including the financial forecasts )
has been prepared based on information currently available, Furusato does
not take responsibilities for any errors and omissions pertaining to the
inherent risks and uncertainties of the material presented.
We ask that you exercise your own judgment in assessing this material.
Furusato is not responsible for any losses that may arise from investment
decisions based on the forecasts and other numerical targets contained
herein.
This presentation material is copyrighted by Furusato Industries, Ltd.
Contact:Corporate Planning Division
FURUSATO INDUSTRIES, LTD.
32
+52.1%5.6%686
4.0%450
Ordinary income
248
355
2,068
2,424
11,167
1H
FY12
2.2%
3.2%
18.5%
21.7%
100.0%
% of sales
+64.4%
+74.7%
+2.6%
+13.2%
+9.4%
Y-o-Y
% change
407
621
2,123
2,744
12,212
1H% of sales
22.5%Gross profit
Net income
Operating income
SG & A Expenses
Net sales
3.3%
5.1%
17.4%
100.0%
FY13
Copyright© Furusato Industries, Ltd. All Rights Reserved
Non-consolidated ResultsFurusato Industries
Rounded down to the nearest million yen
33
(33.4)%1.7%402
2.5%604
Ordinary income
343
524
2,025
2,549
24,594
1H
FY12
1.4%
2.1%
8.2%
10.4%
100.0%
% of sales
(35.6)%
(36.6)%
+1.7%
(6.2)%
(4.1)%
Y-o-Y
% change
221
332
2,060
2,392
23,588
1H% of sales
10.1%Gross profit
Net income
Operating income
SG & A Expenses
Net sales
0.9%
1.4%
8.7%
100.0%
FY13
Copyright© Furusato Industries, Ltd. All Rights Reserved
Non-consolidated ResultsG-net
Rounded down to the nearest million yen
34
+18.4%5.4%132
5.0%112
Ordinary income
66
88
252
341
2,250
1H
FY12
3.0%
3.9%
11.2%
15.2%
100.0%
% of sales
+19.2%
+17.7%
+4.6%
+8.0%
+8.8%
Y-o-Y
% change
79
104
264
369
2,448
1H% of sales
15.1%Gross profit
Net income
Operating income
SG & A Expenses
Net sales
3.3%
4.3%
10.8%
100.0%
FY13
Copyright© Furusato Industries, Ltd. All Rights Reserved
Rounded down to the nearest million yen
Non-consolidated ResultsGifu Shoji