Consolidated Achievement of Fiscal Year 2005 (The 144th term, from April 2005 to March 2006)
Japanese economy in the 144th term showed gradual, continued recovery trends in domestic consumption by progress of private capital investment resulted from corporate profit improvement and recovery of individual consumption, and exports underwent a transition.
In this business environment ADEKA Group was able to achieve near target profits in the final fiscal year of the Mid-Term Management Plan. The group marked increases both in sales and profits for four consecutive terms and made record-setting achievements in sales, operating profit, current income, net income for the term.
The consolidated sales of ADEKA Group amounted to ¥165,043 million (¥13,218 million, 8.7% increase over the previous term) in this term. Even though raw material prices skyrocketed, we managed to increase profits by re-adjusting prices, expanding sales of extra value and performance added products, and proactively developing and promoting our new products on the market. As a result, operating profits were ¥17,285 million (¥2,511 million, 8.7% increase over the previous term). Current income was ¥17,391 million (¥2,759 million, 18.9% increase over the previous term).
Net income, after deducting taxes and allocating extraordinary expenses such as loss on sale of fixed assets and shortage of retirement allowance disestablishment, was ¥9,133 million (¥1,538 million, 20.3& increase over the previous term).
♦ Sales, Operating Profit Ratio, Current Income Ratio and Net Income Ratio of the Term
♦ Operating Profit, Current Income and Net Income of the Term
♦ Profitability [Net Income of the Term per Share: ROE, Return on Equity]
Dividend Policy and Dividend Distribution
The basic principle of ADEKA Group is to fairly determine profit dividends to stockholders and internal reserve by taking various business management factors into consideration, comprehensively, such as management environment, business strategy, business performance and financial status. We continue to attempt further improvement of growth potential and profitability, and to improve dividend ratios from year to year, targeting 30%. The internal reserve is used preferentially for capital investment to improve business performance and future management practices, such as R&D and facility investment in growing next-generation and core business, strengthening overseas operation and production technology.
FY2005 dividend was ¥20 (¥18 ordinary dividend and ¥2 Commemorative Dividend) per share.
Table of Annual Dividend per Share and Dividend Ratio Change
( ) Commemorative Dividend (¥)
♦ Overseas Sales Ratio (Consolidated), Export Ratio (Solo)
♦ Sales by Area (Consolidated)
Asia: Taiwan, South Korea, China, Singapore and Other
Others: USA, Europe and Other
Change in Number of Shares per Unit
We examined reduction in the unit of stock investment, based on ?Action Program toward Promoting Reduction in Unit of Stock Investment? issued by the Tokyo Stock Exchange with comprehensive consideration of the trend in stock exchange, changes in our stock quote, supply-demand situation and shareholder composition.
Our stock quote increased in the last half of 2005 and exceeded challenging targets for the unit of stock investment ?less than ¥500,000? set by the Tokyo Stock Exchange, therefore, we reduced the number of shares from 1000 shares to 100 shares per one unit as of 1 May 2006, to improve liquidity of shares in the market and increase participation of individual investors.
Other Financial Data
♦ Changes in Consolidated Balance Sheet (Overview)
♦ Changes in Sole Balance Sheet (Overview)
♦ Changes in Balance of Interest-Bearing Liabilities
ADEKA Group actively promoted reduction of interest-bearing liabilities. As a result, balance of interest-bearing liabilities at the end of March 2006 was ¥18,244 million for consolidation, reduced by ¥29,224 million from the end of March 2002, and ¥10,028 million for solo, reduced by ¥28,432 million.
♦ Changes in Retirement Allowance Liabilities and Retirement Allowance Reserve
ADEKA Group has reformed the retirement allowance system. As a first step, welfare pension fund was dissolved in December 2003 (March 2004 term). As a second step, approved retirement annuity system was abolished in February 2006 (March 2006 term).
♦ Changes in Consolidated Cash Flow (Overview)
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