Tokyo, Aug 4, 2009 - (JCN Newswire) - Kobayashi Pharmaceutical (TSE: 4956) has reported results for the first quarter ended June 30, 2009. Sales figures for the quarter increased 2,084 million yen (7.3%) year on year to 30,572 million yen, while operating income rose 960 million yen (25.5%) year on year to 4,728 million yen. Ordinary income increased 939 million yen (25.6%) year on year to 4,613 million yen, and net income expanded 114 million yen (4.4%) year on year to 2,717 million yen.
In these circumstances, the Kobayashi Group sought to fully cultivate the spirit of the Group philosophy of "Creation and Innovation", and the development of customer needs by providing products and services to create new markets while offering new value products and services in existing markets.
I. Consolidated Operating Results
(Millions of Yen)
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First Quarter Ended YoY Change
March 31, 2009 March 31, 2008 Percent
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Operating Results
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Net Sales 30,572 28,488 7.3
Operating Income 4,728 3,767 25.5
Ordinary Income 4,613 3,673 25.6
Net Income 2,717 2,603 4.4
Net Income/Share (Y) 66.37 63.20
Net Income/Share, Diluted (Y) -- 63.18
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Financial Position
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Total Assets 123,066 125,210
Total Sh'holders Equity 79,871 76,364
Sh'holders Equity Ratio 64.8% 60.9%
Shareholders BPS (Yen) 1,946.21 1,861.14
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1) Consumer Products Operation
Nine new products were introduced this spring, including the anti-obesity Chinese herbal medicine Bisuratto Gold a, which reduces access body fat by improving the body's metabolizing of fats, the cooling hair band Netsusama Hinyari Hair Band, which simultaneously cools both the front and back of one's head, and the pleasant-feeling ear brush Tenshi-no-mimigaki, which provides an appropriate level of stimulation to the ear; these products contributed to an increase in sales. In addition, sales of influenza related products such as Netsusama cooling gel sheets and Nodo nu-ru nure mask were firm because of concern about swine flu, and those of existing products including the oral breath freshener Breath Care and sanitary sheet Sarasaty were robust. Therefore net sales rose 1,917 million yen (7.5%) year on year to 27,492 million yen. Operating income expanded 882 million yen (23.1%) year on year to 4,701 million yen because of the increase in net sales and the effective use of sales promotion expenses.
2) Medical Devices Operation
Within the medical devices operation, efforts were made to raise brand awareness and expand the company's market share in the fields of orthopedic and operating room related products, the domestic market for which is expected to grow. As for eVent Medical Ltd., the company worked to strengthen the sales of artificial respirators.
As a result, sales rose 173 million yen (7.0%) year on year to 2,664 million yen. This segment recorded an operating loss of 80 million yen, an improvement of 92 million yen a year ago, since sales expanded.
3) Other Operations
Other Operations (transportation, ad planning and production, etc.) are conducted on a financially independent basis by Kobayashi Pharmaceutical's subsidiaries in support of the Company's two principal businesses and to contribute to the profits of those businesses. This segment reviewed the transfer values of the materials and services these operations provide.
Therefore, sales fell 90 million yen (-4.7%) year on year to 1,833 million yen, but operating income rose 2 million yen (1.7%) year on year to 125 million yen. However, sales include internal sales or transfers between segments, which totaled 1,499 million yen for the previous first quarter and 1,410 million for current first quarter.
II. Financial Position
Current assets increased to 74,907 million yen compared to the previous first quarter. This was the result of various factors including an increase in trade notes and accounts receivable, securities, and products and a decrease in cash and time deposits.
Fixed assets shrank to 48,158 million yen compared to the previous first quarter for several reasons including a decrease in investment securities.
As a result, total assets fell to 123,066 million yen compared to the previous first quarter.
Liabilities declined to 43,195 million yen because of various factors including declines in accrued expenses and accrued income tax.
Net assets rose to 79,871 million yen compared to the previous first quarter for several reasons including an increase in retained earnings, net unrealized holdings on securities, and foreign currency translation adjustment.
III. Forecast
Since earnings for the first quarter were generally in line with projections, no changes were made to projections for earnings through the second quarter and for the full fiscal year that were announced on May 7, 2009.
About Kobayashi Pharmaceutical
Kobayashi Pharmaceutical (TSE: 4967; OTC: KBYPF) first opened for business in 1919, and its management policy has always been to provide people and society with wonderful comfort through "Creativity and Innovation". Over the years the Company has expanded its scope, developing into a cluster of enterprises with two principal businesses: Consumer Products Operation and Medical Devices Operation. In the fiscal year ended March 31, 2008, Kobayashi achieved increases in profits for the eleventh consecutive year since the introduction of consolidated accounting. For more information, please visit www.kobayashi.co.jp .
Contact:
Kobayashi Pharmaceutical Online
http://www.kobayashi.co.jp/english/contact/index.html?lid=1
Aug 4, 2009
Source: Kobayashi Pharmaceutical
Kobayashi Pharmaceutical (TSE: 4967) (U.S: KBYPF)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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