Professional Documents
Culture Documents
1. Consolidated performance for the first quarter of the fiscal year ending April 30, 2012
(May 1, 2011 - July 31, 2011)
(% changes as compared with the corresponding period of the previous fiscal year)
7/31/2011
Net sales
Million yen
102,788
Operating income
Million yen
6,735
13.2%
5,9%
7/31/2010
97,077
8.2%
5,950
Note: Comprehensive income
7/31/2011: 3,052 million yen (54.6%)
7/31/2011
Yen
27.40
7/31/2010
21.41
21.34
Ordinary income
Million yen
6,334
15.1%
46.4%
5,504
41.6%
7/31/2010: 1,974million yen (%)
Net income
Million yen
3,380
2,648
27.6%
35.6%
7/31/2011
Total assets
Net assets
Million yen
215,370
Million yen
102,164
Shareholders equity
ratio
47.4%
4/30/2011
192,462
101,630
52.7%
Reference: Equity
7/31/2011: 102,135million yen
4/30/2011: 101,517 million yen
Note: The above Net income per share pertains to common stock. For Net income per share for Class-A Preferred Stock, refer to Reference
below.
2. Dividends
Dividend per share
(Record date)
Yen
Yen
19.00
Year end
Full year
Yen
19.00
Yen
4/30/2011
38.00
4/30/2012
4/30/2012
19.00
19.00
38.00
(Forecast)
Note: Revision of dividends forecast during the current quarterly period: None
Note: The above Net income per share pertains to common stock. For Net income per share for Class-A Preferred Stock, refer to Reference
below.
3. Forecasted consolidated operation results for the fiscal year ending April 30, 2012 (May 1, 2011 - April 30, 2012)
Net sales
10/31/2011
Million yen
191,300
-1.7%
(% changes as compared with the corresponding period of the previous fiscal year)
Net income
Operating income
Ordinary income
Net income
per share
Million yen
Million yen
Million yen
Yen
-4.6%
-12.3%
40.68
11,100
-8.7%
10,700
5,200
4/30/2012
2.4%
1.8%
2.9%
4.2%
61.95
360,000
18,000
17,000
8,000
Note: Revision of operation results forecast during the current quarterly period: None
Note: The above Net income per share pertains to common stock. For Net income per share for Class-A Preferred Stock, refer to Reference
below.
4. Others
(1) Changes in important subsidiaries during the period
(changes in specific subsidiaries accompanied by a change in the scope of consolidation): None
(2) Application of special accounting methods in preparation for quarterly consolidated financial statements: Yes
Note: Application of simplified accounting and specific for preparing the quarterly consolidated financial statements.
(3) Changes in accounting policies, changes accounting estimate, and restatement
. Changes in accounting policies associated with in accounting standards: None
. Changes in accounting policies other than: None
. Changes in accounting estimates: None
. Restatement: None
(4) Shares outstanding (common stock)
. Numbers of shares outstanding (including treasury stock) 7/31/2011 91,212,380 shares
4/30/2011 91,212,380 shares
. Numbers of treasury stock
7/31/2011 1,986,983 shares
4/30/2011
1,999,983 shares
. Average number of shares during the period (consolidated, cumulative from the beginning of the fiscal year)
7/31/2011 89,216,964 shares
7/31/2010 89,205,154 shares
* Indication of quarterly review procedure implementation status
- These quarterly financial results fall outside the quarterly review requirements as provided in the Financial Instruments and
Exchange Law. The review of quarterly consolidated financial statements as provided in the Financial Instruments and Exchange
Law had not been completed as of the date of this Consolidated Financial Results for the Three-Month Period Ended July 31, 2011.
* Request for appropriate use of the business outlook and other special remarks
- The forecasts are based on information available to the management at the time of an announcement. Due to variable factors,
actual results may be different from the forecast figures. For the basis of presumption of the forecasted operation results and the
notes on its use, refer to (3) Qualitative Information Regarding Forecasts for Consolidated Operating Results, on page 3 in the
Attachment.
Reference
(1) Information per share of Class-A Preferred Stock (May 1, 2011- July 31, 2011)
Net income per share
(diluted)
Yen
27.32
21.34
Yen
27.40
21.41
Yen
24.00
Yen
24.00
Year end
Full year
Yen
24.00
Yen
48.00
24.00
48.00
(3) Information per share of Class-A Preferred Stock in forecasted consolidated operation results
10/31/2011
4/30/2012
71.88
69.45
Contents of Attachments
1. Qualitative Information Regarding Consolidated Financial Results for This Quarter .................................2
(1) Qualitative Information Regarding Consolidated Business Results................................................................................... 2
(2) Qualitative Information Regarding Consolidated Financial Position................................................................................. 3
(3) Qualitative Information Regarding Forecasts for Consolidated Operating Results ........................................................... 3
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1. Qualitative Information Regarding Consolidated Financial Results, Etc. For This Quarter
(1) Qualitative Information Regarding Consolidated Business Results
The first quarter of the fiscal year ending April 30, 2012 (May 1July 31, 2011) saw a gradual recovery in corporate production,
which had declined in the wake of the Great East Japan Earthquake. However, economic conditions in Japan remained severe due to
factors such as power supply problems and concerns over economic deceleration overseas, principally in Europe and North America.
In the beverage market as well, overall business conditions remained challenging because of constraints on the supply of products
to the market and to retailers, due to damage incurred at production facilities and difficulties in procuring materials caused by the
earthquake disaster.
Under these business conditions, the ITO EN Group maintained its STILL NOW strategy of seeking to discover what
customers are not satisfied with and actively conducted business operation based on its management philosophy of Always Putting
the Customer First.
As a result, ITO EN recorded consolidated net sales of 102,788 million yen, up 5.9% from the previous year. On the earnings
front, resulted in operating income of 6,735 million yen, up 13.2% year on year, ordinary income of 6,334 million yen, up 15.1% and
net income of 3,380 million yen, up 27.6%.
<Tea Leaves and Beverages Business>
In the Tea Leaves and Beverages Business, in the face of supply concerns affecting beverage products, such as the procurement of
PET bottle cap material immediately following the earthquake, ITO EN has worked to ensure a stable supply to customers by
implementing production adjustments that prioritized mainstay products. The rainy season ended earlier than usual, and the average
summer temperature was high, albeit lower than the torrid average of last year. The hot weather during the quarter contributed to
favorable growth in sales of mainstay green tea beverages. New product introductions resulted in solid sales of black tea and coffee
beverages.
Chichiyasu Company, which became a consolidated subsidiary in the quarter under review, also contributed to the increase in
sales. As a result, sales in the Tea Leaves and Beverages Business rose 5.7 % from the first quarter of the previous fiscal year, to
97,997 million yen.
<Others>
Tullys Coffee Japan Co., Ltd. continued to perform well, with net sales rising 8.8% year on year, to 4,790 million yen.
ITO EN is committed to provide financial support for areas affected by the Great East Japan Earthquake by donating through the
Japanese Red Cross Society an amount calculated based on sales volumes.*
To reduce the power consumption of its vending machines to cope with power shortages, ITO EN has implemented measures in
areas serviced by Tokyo Electric Power Company and Tohoku Electric Power Company in response to the governments maximum
power consumption reduction policy. The Company has completed work in its efforts to exceed the reduction target by switching
off the vending machines cooling function on a rotating basis or suspending machine operation altogether.
*A donation of one yen per unit for all beverages in PET bottles and cans the Company sells from May 1 to August 31, 2011, including Oi Ocha
green tea beverages, TEAS TEA black tea beverages, TULLYS COFFEE beverages, and Jujitsu Yasai, Ichinichibun no Yasai, and other
vegetable beverages
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(2) Application of Special Accounting Methods in Preparation for Quarterly Consolidated Financial Statements
Calculation of income taxes
The effective tax rate after the application of deferred tax accounting to the net income before income taxes for the
consolidated fiscal year including the first quarter under review is reasonably estimated, and the tax expenses are calculated by
multiplying net income before income taxes by this estimated effective tax rate. Also, the account of income taxes includes
both of income taxes - current and income taxes - deferred.
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Current assets:
Cash and deposits
Notes and accounts receivable trade
Merchandise and finished products
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Fixed assets:
Property, plant and equipment;
Buildings and structures
Land
Lease assets
Other
Subtotal
Intangible fixed assets;
Goodwill
Lease assets
Other
Subtotal
Investments and other assets;
Subtotal
Total fixed assets
Total assets
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23,986
14,416
39,538
53,321
15,709
25,957
6,607
7,525
13,548
15,157
(86)
(100)
99,302
116,276
14,761
15,165
13,968
15,931
24,746
25,509
4,215
4,703
57,692
61,310
12,824
15,263
100
88
8,853
8,577
21,778
23,930
13,689
13,852
93,159
99,093
192,462
215,370
Current liabilities:
Notes and accounts payable-trade
Short-term loans payable
Commercial papers
Lease obligations
Accrued expenses
Income taxes payable
Accrued bonuses
Other
Total current liabilities
Non-current liabilities:
Long-term loans payable
Lease obligations
Allowance for retirement and severance benefits for employees
Other
Total non-current liabilities
Total liabilities
Shareholders' equity:
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Valuation, translation adjustments and others:
Unrealized holding gains on securities, net of tax
Deferred gains (losses) on hedges
Land revaluation difference, net of tax
Foreign currency translation adjustments
Total accumulated gains (losses) from valuation, translation adjustments and others
Stock acquisition rights
Minority interests
Total net assets
Total liabilities and net assets
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27,027
35,544
310
310
10,000
7,428
7,970
15,587
18,354
5,063
3,521
2,610
1,666
2,384
2,369
60,413
79,737
3,147
5,170
19,234
19,345
4,892
5,675
3,143
3,276
30,418
33,467
90,831
113,205
19,912
19,912
20,259
20,259
74,735
75,573
(4,865)
(4,836)
110,041
110,908
68
82
(10)
(6,260)
(6,260)
(2,333)
(2,583)
(8,523)
(8,772)
105
25
101,630
102,164
192,462
215,370
-7-
Million yen
7/31/2011
97,077
102,788
50,370
52,206
46,707
50,581
40,756
43,845
5,950
6,735
120
139
26
28
26
64
108
566
541
228
261
302
234
35
43
5,504
6,334
53
53
386
108
10
29
35
51
10
13
335
5,170
6,233
2,518
2,932
2,652
3,301
(79)
2,648
3,380
7/31/2010
Million yen
7/31/2011
2,652
3,301
(209)
13
(3)
(677)
(248)
1,974
3,052
1,970
3,131
(79)
-8-
(45)
(13)
(419)
(259)
Net sales:
(1) Outside
(2) Intersegment
Total net sales
Segment earnings (loss)
Others
92,673
4,404
685
(732)
97,077
47
92,720
5,089
(732)
97,077
5,832
334
(216)
5,950
Notes: 1. The segment earnings (loss) adjustment includes (223) million in amortization of goodwill and 6 million in intersegment transactions.
2. Segment earnings are adjusted to the operating income figure on the Consolidated Statements of Operations.
For the first quarter of the fiscal year ending April 30, 2012 (May 1, 2011 - July 31, 2011)
Tea leaves
/Beverages
Business
Net sales:
(1) Outside
(2) Intersegment
Total net sales
Segment earnings (loss)
Others
97,997
4,790
726
(781)
102,788
55
98,053
5,517
(781)
102,788
6,390
596
(251)
6,735
Notes: 1. The segment earnings (loss) adjustment includes (260) million in amortization of goodwill and 8 million in intersegment transactions.
2. Segment earnings are adjusted to the operating income figure on the Consolidated Statements of Operations.
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