[July 26, 2017] |
|
LINE Corporation Announces Summary of Consolidated Financial Results for the Six Months Ended June 30, 2017
LINE Corporation (NYSE:LN) (TOKYO:3938) announces the summary of its
consolidated financial results for the six months ended June 30, 2017.
Company name:
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LINE Corporation (Stock Code:3938) (the "Company")
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Stock exchange on which the shares are listed:
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Tokyo Stock Exchange
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URL:
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http://linecorp.com/
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Representative:
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Takeshi Idezawa, Chief Executive Officer
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Contact:
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Kokan Ki, Executive Officer and Head of Finance and Accounting
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Telephone:
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+81-3-4316-2050
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Filing date of quarterly securities report: August 10, 2017
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Payment date of dividends: -
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Supplemental materials prepared on quarterly financial results: Yes
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Financial results conference scheduled: Yes (for institutional
investors and analysts)
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(Yen amounts are rounded to the nearest million, unless otherwise
noted.)
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1. Consolidated financial results for the first six months of
2017 (from January 1, 2017 to June 30, 2017)
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(1) Consolidated operating results (cumulative)
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(Percentages indicate year-on-year changes.)
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|
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Revenues
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Profit from operating activities
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Profit before income taxes
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Profit for the period
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For the six months ended
|
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Millions of yen
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%
|
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Millions of yen
|
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%
|
|
Millions of yen
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%
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Millions of yen
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%
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June 30, 2017
|
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78,696
|
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16.9
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|
18,629
|
|
39.4
|
|
16,961
|
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58.7
|
|
10,549
|
|
268.1
|
June 30, 2016
|
|
67,310
|
|
19.8
|
|
13,367
|
|
-
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10,688
|
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-
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2,866
|
|
-
|
|
|
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Profit attributable to the shareholders of the Company
|
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Comprehensive income for the period
|
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Basic earnings per share
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Diluted earnings per share
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For the six months ended
|
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Millions of yen
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%
|
|
Millions of yen
|
|
%
|
|
Yen
|
|
Yen
|
June 30, 2017
|
|
10,273
|
|
301.4
|
|
13,626
|
|
-
|
|
46.95
|
|
43.32
|
June 30, 2016
|
|
2,559
|
|
-
|
|
1,111
|
|
-
|
|
14.63
|
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13.10
|
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(2) Consolidated financial position
|
|
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Total assets
|
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Total equity
|
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Equity attributable to the shareholders of the Company
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Ratio of equity attributable to the shareholders of the Company
to total assets
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As of
|
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Millions of yen
|
|
Millions of yen
|
|
Millions of yen
|
|
%
|
June 30, 2017
|
|
270,612
|
|
177,192
|
|
176,329
|
|
65.2
|
December 31, 2016
|
|
256,089
|
|
161,023
|
|
160,834
|
|
62.8
|
|
2. Cash dividends
|
|
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Annual dividends per share
|
|
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First quarter-end
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Second quarter-end
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Third quarter-end
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Fiscal year-end
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Total
|
|
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Yen
|
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Yen
|
|
Yen
|
|
Yen
|
|
Yen
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For the year ended December 31, 2016
|
|
-
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0.00
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-
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0.00
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0.00
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For the year ending December 31, 2017
|
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-
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0.00
|
|
|
|
|
|
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For the year ending December 31, 2017 (Forecast)
|
|
|
|
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-
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-
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-
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Note:
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Revisions to the cash dividends forecasts most recently announced:
None
|
|
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Concerning cash dividends forecasts for the year ending December 31,
2017, while the Company has decided not to pay an interim dividend,
it has not yet made a decision concerning the year-end dividend.
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3. Consolidated earnings forecasts for 2017 (from January 1,
2017 to December 31, 2017)
Amid rapid international and domestic changes, there is a level of
uncertainty within the mobile applications market for smartphones and
other mobile devices, the main business of the Company and its
subsidiaries (collectively, the "Group"). As the state of this market
significantly impacts the Group's financial results, it is difficult to
formulate a precise earnings forecast. Furthermore, as the Company's
shares are listed on the New York Stock Exchange as well as the Tokyo
Stock Exchange, we are also carefully considering risks relating to U.S.
securities regulations. Accordingly, an announcement concerning earnings
forecasts is not made at this time.
Notes
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(1)
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|
Changes in significant subsidiaries during the current period
(changes in specified subsidiaries resulting in change in scope of
consolidation): None
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(2)
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Changes in accounting policies and estimates
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a.
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Changes in accounting policies due to revisions in accounting
standards under IFRS: None
|
|
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b.
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Changes in accounting policies due to other reasons: None
|
|
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c.
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Changes in accounting estimates: None
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(3)
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Number of shares issued and outstanding (common stock)
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a.
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Total number of common shares issued and outstanding at the end of
the period (including treasury shares)
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|
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As of June 30, 2017
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219,407,000 shares
|
|
|
|
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As of December 31, 2016
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217,775,500 shares
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|
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b.
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Number of treasury shares at the end of the period
|
|
|
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As of June 30, 2017
|
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- shares
|
|
|
|
|
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As of December 31, 2016
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- shares
|
|
|
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c.
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Average number of common shares outstanding during the period
(cumulative from the beginning of the fiscal year)
|
|
|
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For the six months ended June 30, 2017
|
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218,812,544 shares
|
|
|
|
|
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For the six months ended June 30, 2016
|
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87,974,120 shares
|
|
|
|
Note:
|
|
As of December 31, 2015, the Company had issued 174,992,000 class A
shares. However, through an amendment to its articles of
incorporation effective as of March 31, 2016, the Company terminated
its dual class structure and converted all class A shares into
common shares. The average number of class A shares outstanding
during the six-month period ended June 30, 2016 was 87,017,880. The
combined average number of common shares and class A shares
outstanding during the period (cumulative from the beginning of the
fiscal year) for the six-month period ended June 30, 2016 was
174,992,000.
|
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* Information regarding the quarterly review
procedures
This summary quarterly financial results report is exempt from the
quarterly consolidated financial statements review procedures in
accordance with the Financial Instruments and Exchange Act.
* Cautionary statement with respect to
forward-looking statements, and other information
This document contains forward-looking statements with respect to the
current plans, estimates, strategies and beliefs of the Company.
Forward-looking statements include, but are not limited to, those
statements using words such as "anticipate," "believe," "continues,"
"expect," "estimate," "intend," "project" and similar expressions and
future or conditional verbs such as "will," "would," "should," "could,"
"might," "can," "may," or similar expressions generally intended to
identify forward-looking statements. These forward-looking statements
are based on information currently available to the Company, speak only
as of the date hereof and are based on the Company's current plans and
expectations and are subject to a number of known and unknown
uncertainties and risks, many of which are beyond the Company's control.
As a consequence, current plans, anticipated actions and future
financial position and results of operations may differ significantly
from those expressed in any forward-looking statements in the document.
You are cautioned not to unduly rely on such forward-looking statements
when evaluating the information presented and the Company does not
intend to update any of these forward-looking statements. Risks and
uncertainties that might affect the Company include, but are not limited
to:
i.
|
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its ability to attract and retain users and increase the level of
engagement of its users;
|
ii.
|
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its ability to improve user monetization;
|
iii.
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its ability to successfully enter new markets and manage its
business expansion;
|
iv.
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its ability to compete in the global social network services market;
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v.
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its ability to develop or acquire new products and services, improve
its existing products and services and increase the value of its
products and services in a timely and cost-effective manner;
|
vi.
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its ability to maintain good relationships with platform partners
and attract new platform partners;
|
vii.
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its ability to attract advertisers to the LINE platform and increase
the amount that advertisers spend with LINE;
|
viii.
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its expectations regarding its user growth rate and the usage of its
mobile applications;
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ix.
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its ability to increase revenues and its revenue growth rate;
|
x.
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its ability to timely and effectively scale and adapt its existing
technology and network infrastructure;
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xi.
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its ability to successfully acquire and integrate companies and
assets;
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xii.
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its future business development, results of operations and financial
condition;
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xiii.
|
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the regulatory environment in which it operates;
|
xiv.
|
|
fluctuations in currency exchange rates and changes in the
proportion of its revenues and expenses denominated in foreign
currencies; and
|
xv.
|
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changes in business or macroeconomic conditions.
|
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The Company plans to hold a financial results conference for
institutional investors and analysts on Wednesday, July 26, 2017 (Tokyo
time). The Company plans to upload the video of this conference and
presentation material on its corporate website.
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Index
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1. Qualitative information regarding financial results for the six
months ended June 30, 2017
|
|
|
(1)
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Operating results
|
|
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(2)
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Financial position
|
|
|
(3)
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Forecast of consolidated financial results
|
|
2. Interim condensed consolidated financial statements
|
|
|
(1)
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Interim condensed consolidated statement of financial position -
unaudited
|
|
|
(2)
|
Interim condensed consolidated statement of profit or loss -
unaudited
|
|
|
(3)
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Interim condensed consolidated statement of comprehensive income -
unaudited
|
|
|
(4)
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Interim condensed consolidated statement of change in equity -
unaudited
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|
|
(5)
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Notes to interim condensed consolidated financial statements -
unaudited
|
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Notes for going concern assumption
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1. Qualitative information regarding financial results for the
six months ended June 30, 2017
(1) Operating results
In the first six months of 2017 (from January 1, 2017 to June 30, 2017),
amid continuing uncertainty regarding the economic policies of the new
U.S. administration, emerging economies in Asia, particularly the
Chinese economy, began to show signs of respite from the global economic
slowdown. In addition, GDP growth rates in some of the Company's key
countries, including Thailand and Taiwan showed a moderate trend of
recovery.
Meanwhile, in the Japanese economy, there were signs of recovery in
exports in industries such as the IT industry, firm improvement in
employment rates and personal income levels, while personal spending
showed moderate improvement.
Amid such circumstances, in the internet industry in which the Group is
engaged, the total number of mobile phone shipments in Japan for the
fiscal year ended December 31, 2016 was 36.06 million, a decrease of
3.0% year on year. The ratio of smartphones to the total number of
mobile phone shipments in Japan was 81.6%, an increase of 3.6 percentage
points year on year. Although the overall number of mobile phone
shipments has hit a ceiling, there was an increase in users switching
from feature phones to smartphones and an increase in the number of
SIM-free smartphones. [Current estimates suggest that the number of
smartphone contracts in Japan will exceed 100 million by year 2018, and
the mobile internet market is expected to continue to grow on the back
of this expansion] (Source: MM Research Institute, Japan mobile phone
handset shipment estimates for year 2016 and Overview of domestic mobile
phone shipments for FY 2016).
In this business environment, the Group actively moved forward with the
LINE business and portal segment. As of June 30, 2017, MAUs* in our four
key countries (Japan, Taiwan, Thailand and Indonesia) reached 169
million, a year-on-year increase of 7.5%.
* Monthly Active Users ("MAUs") in a given month refers to the number of
user accounts that (i) accessed the LINE messaging application or any
LINE Games through mobile devices; (ii) sent messages through the LINE
messaging application from personal computers; or (iii) sent messages
through any other LINE application from mobile devices, in each case at
least once during that month.
Revenues
LINE Business and Portal segment
The Group's revenues from continuing operations from its major
services in the first six months of 2016 and 2017 are as follows:
|
|
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(In millions of yen)
|
|
|
|
For the six-month period
|
|
|
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ended June 30,
|
|
|
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2016
|
|
2017
|
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LINE business and portal segment
|
|
|
|
|
|
Communication and content
|
|
|
|
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|
Communication(1)
|
|
15,063
|
|
15,615
|
|
Content(2)
|
|
23,252
|
|
20,521
|
|
Others(3)
|
|
4,503
|
|
8,496
|
|
|
|
|
|
|
|
Sub-total
|
|
42,818
|
|
44,632
|
|
|
|
|
|
|
|
Advertising
|
|
|
|
|
|
LINE advertising(4)
|
|
19,462
|
|
28,892
|
|
Portal advertising
|
|
5,030
|
|
5,172
|
|
|
|
|
|
|
|
Sub-total
|
|
24,492
|
|
34,064
|
|
|
|
|
|
|
|
Total
|
|
67,310
|
|
78,696
|
(1)
|
|
Revenues from communication increased mainly due to the steady
growth of Creators' Themes released in April 2016, as well as a
shortening of the time taken for stickers to pass the review process
and enhancement of products by popular creators for Creators'
stickers.
|
(2)
|
|
Revenues from content decreased mainly due to a decrease in revenues
generated by the LINE Games business as a result of fewer new title
releases, although we are steadily promoting existing services such
as LINE Manga and LINE Fortune.
|
(3)
|
|
Revenues from others increased mainly due to the expansion of LINE
Friends service primarily overseas as well as the launch of LINE
Mobile in September 2016.
|
(4)
|
|
Revenues from LINE advertising increased mainly due to the continued
growth of existing "messenger ads" such as Official Accounts as well
as a significant increase in revenues generated by "performance ads"
on Timeline and LINE NEWS provided by the LINE Ads Platform released
in June 2016.
|
|
Profit from operating activities
Profit from operating activities consists of revenues and other
operating income reduced by operating expenses. In the first six months
of 2017, other operating income included 10,444 million yen in gain on
transfer of business resulting from restructuring of the camera
application business. With respect to operating expenses, there was an
increase in employee compensation expenses due to headcount growth in
accordance with business expansion, an increase in marketing expenses
due mainly to the active running of TV commercials for LINE Mobile, an
increase in authentication and other service expenses due mainly to
additional network costs for LINE Mobile accompanying arising number of
users, an increase in depreciation expenses of furniture and fixtures
which were newly purchased due to the relocation of the headquarter
offices, and an increase in other operating expenses due to an increase
in LINE Points expenses to attract new users for LINE Pay and an
increase in rent payments for the new headquarter offices, which were
partially offset by an decrease in the share-based payment expenses.
Accordingly, the Group recorded operating expenses of 71,091 million
yen, a year-on-year increase of 20.5%.
As a result, for the first six months of 2017, the Group recorded profit
from operating activities of 18,629 million yen, a year-on-year increase
of 39.4%.
Profit for the period from continuing operations
The Group recorded profit before tax for the period from continuing
operations of 16,961 million yen in the first six months of 2017, a
58.7% increase year on year, due in part to an increase in profit from
operating activities, a decrease in loss on foreign currency
transactions, net, and a decrease in other non-operating expenses, which
were offset in part by an increase in share of loss of associates and
joint ventures. Income tax expense increased by 4.1% to 6,405 million
yen for the first six months of 2017 compared to the first six months of
2016. On an after-tax basis, profit for the period from continuing
operations was 10,556 million yen in the first six months of 2017, an
increase of 132.9% year on year. The effective tax rate for the
six-month period ended June 30, 2017 of 37.8% differed from the Japanese
statutory tax rate of 31.7% for the year ended December 31, 2017. The
effective income tax rate of 37.8% was primarily due to pre-tax losses
recorded by subsidiaries on a standalone basis and pre-tax losses
recorded by associates and joint ventures for which no deferred tax
assets were recognized as the related tax benefits could not be
recognized.
Profit for the period
Loss for the period from discontinued operations, which relate to the
MixRadio business, for the first six months of 2017 decreased from the
corresponding period in 2016. Therefore, after subtracting the loss for
the period from discontinued operations, profit for the period was
10,549 million yen in the first six months of 2017, an increase of
268.1% year on year. Profit for the period attributable to the
shareholders of the Company was 10,273 million yen in the first six
months of 2017, an increase of 301.4% year on year.
(2) Financial position
Regarding the financial position of the Group as of June 30, 2017, total
assets of the Group increased by 14,523 million yen compared to the end
of the previous fiscal year to 270,612 million yen, primarily due to a
10,087 million yen increase in investments in associates and joint
ventures mainly due to the acquisition of additional shares of Snow
Corporation, which is an associate of the Group, in exchange for the
camera application business and a 3,781 million yen increase in property
and equipment, which related mainly to the relocation of the headquarter
offices. Total liabilities decreased by 1,646 million yen to 93,420
million yen as of June 30, 2017. The main factor of decrease was a 2,719
million yen decrease in income taxes payables due to tax payments, while
the main factor of increase was a 1,611 million yen increase in
provisions, non-current, caused by an increase in provision for asset
retirement associated with the relocation of the headquarter offices.
Total shareholders' equity increased by 16,169 million yen to 177,192
million yen as of June 30, 2017. These changes were primarily
attributable to profit for the period of 10,549 million yen.
(3) Forecast of consolidated financial results
Forecasts for the next quarter
The Group's revenues for the first nine months of fiscal year 2017
(January 1, 2017 to September 30, 2017) are expected to be higher
compared to the corresponding period of 2016 driven by the steady growth
of advertising. Specifically, in LINE advertising, growth in revenues is
expected due to existing advertising products such as Official Accounts,
and also the contribution from the revenues of performance ads appearing
mainly in the Timeline and LINE NEWS that have enjoyed increased traffic
from the News Tab, a feature newly added in February 2017. With respect
to content distribution, the Group expects to generate revenues
steadily, mainly because the Group plans to update existing titles and
implement marketing activities. In addition, the Group expects stable
revenues in communication as a result of executing measures geared
toward seasons and events.
In the third quarter of fiscal year 2017 (July 1, 2017 to September 30,
2017), although increased operating expenses are expected following the
expansion of services and marketing activities as well as full-scale
investments in cloud AI "Clova" and new share-based compensation
expenses, the Group expects to continue the trend of positive profit
from operating activities.
|
2. Interim Condensed Consolidated Financial Statements
|
|
(1) Interim Condensed Consolidated Statement of Financial Position
- Unaudited
|
|
|
|
(In millions of yen)
|
|
|
|
December 31, 2016
|
|
June 30, 2017
|
Assets
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
134,698
|
|
|
125,512
|
Trade and other receivables
|
|
|
28,167
|
|
|
31,418
|
Other financial assets, current
|
|
|
6,952
|
|
|
7,916
|
Inventories
|
|
|
961
|
|
|
2,526
|
Other current assets
|
|
|
3,929
|
|
|
5,005
|
|
|
|
|
|
|
|
Total current assets
|
|
|
174,707
|
|
|
172,377
|
|
|
|
|
|
|
|
Non-current assets
|
|
|
|
|
|
|
Property and equipment
|
|
|
9,029
|
|
|
12,810
|
Goodwill
|
|
|
3,400
|
|
|
5,360
|
Other intangible assets
|
|
|
1,851
|
|
|
2,101
|
Investments in associates and joint ventures
|
|
|
12,712
|
|
|
22,799
|
Other financial assets, non-current
|
|
|
35,715
|
|
|
38,881
|
Deferred tax assets
|
|
|
18,385
|
|
|
15,933
|
Other non-current assets
|
|
|
290
|
|
|
351
|
|
|
|
|
|
|
|
Total non-current assets
|
|
|
81,382
|
|
|
98,235
|
|
|
|
|
|
|
|
Total assets
|
|
|
256,089
|
|
|
270,612
|
|
|
|
(In millions of yen)
|
|
|
December 31, 2016
|
|
June 30, 2017
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
Trade and other payables
|
|
21,532
|
|
|
|
22,317
|
|
Other financial liabilities, current
|
|
24,497
|
|
|
|
24,327
|
|
Accrued expenses
|
|
9,049
|
|
|
|
8,098
|
|
Income tax payables
|
|
5,699
|
|
|
|
2,980
|
|
Advances received
|
|
11,286
|
|
|
|
12,557
|
|
Deferred revenue
|
|
9,739
|
|
|
|
9,442
|
|
Provisions, current
|
|
964
|
|
|
|
1,019
|
|
Other current liabilities
|
|
3,670
|
|
|
|
1,212
|
|
|
|
|
|
|
|
Total current liabilities
|
|
86,436
|
|
|
|
81,952
|
|
|
|
|
|
|
|
Non-current liabilities
|
|
|
|
|
|
Other financial liabilities, non-current
|
|
-
|
|
|
|
58
|
|
Deferred tax liabilities
|
|
1,161
|
|
|
|
1,908
|
|
Provisions, non-current
|
|
1,120
|
|
|
|
2,731
|
|
Post-employment benefits
|
|
6,204
|
|
|
|
6,723
|
|
Other non-current liabilities
|
|
145
|
|
|
|
48
|
|
|
|
|
|
|
|
Total non-current liabilities
|
|
8,630
|
|
|
|
11,468
|
|
|
|
|
|
|
|
Total liabilities
|
|
95,066
|
|
|
|
93,420
|
|
|
|
|
|
|
|
Shareholders' equity
|
|
|
|
|
|
Share capital
|
|
77,856
|
|
|
|
79,919
|
|
Share premium
|
|
91,208
|
|
|
|
91,283
|
|
Accumulated deficit
|
|
(12,381
|
)
|
|
|
(2,100
|
)
|
Accumulated other comprehensive income
|
|
4,151
|
|
|
|
7,227
|
|
|
|
|
|
|
|
Equity attributable to the shareholders of the Company
|
|
160,834
|
|
|
|
176,329
|
|
|
|
|
|
|
|
Non-controlling interests
|
|
189
|
|
|
|
863
|
|
|
|
|
|
|
|
Total shareholders' equity
|
|
161,023
|
|
|
|
177,192
|
|
|
|
|
|
|
|
Total liabilities and shareholders' equity
|
|
256,089
|
|
|
|
270,612
|
|
|
(2) Interim Condensed Consolidated Statement of Profit or Loss -
Unaudited
|
|
|
(In millions of yen)
|
|
|
For the six-month period ended June 30,
|
|
|
2016
|
|
2017
|
Revenues and other operating income:
|
|
|
|
|
Revenues
|
|
67,310
|
|
78,696
|
Other operating income
|
|
5,042
|
|
11,024
|
|
|
|
|
|
Total revenues and other operating income
|
|
72,352
|
|
89,720
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
Payment processing and licensing expenses
|
|
(15,128)
|
|
(15,024)
|
Employee compensation expenses
|
|
(19,114)
|
|
(19,265)
|
Marketing expenses
|
|
(4,754)
|
|
(7,858)
|
Infrastructure and communication expenses
|
|
(3,776)
|
|
(4,385)
|
Authentication and other service expenses
|
|
(6,137)
|
|
(10,709)
|
Depreciation and amortization expenses
|
|
(2,234)
|
|
(3,017)
|
Other operating expenses
|
|
(7,842)
|
|
(10,833)
|
|
|
|
|
|
Total operating expenses
|
|
(58,985)
|
|
(71,091)
|
|
|
|
|
|
Profit from operating activities
|
|
13,367
|
|
18,629
|
Finance income
|
|
40
|
|
67
|
Finance costs
|
|
(40)
|
|
(14)
|
Share of loss of associates and joint ventures
|
|
(144)
|
|
(2,443)
|
Loss on foreign currency transactions, net
|
|
(1,376)
|
|
(329)
|
Other non-operating income
|
|
-
|
|
1,094
|
Other non-operating expenses
|
|
(1,159)
|
|
(43)
|
|
|
|
|
|
Profit before tax from continuing operations
|
|
10,688
|
|
16,961
|
Income tax expenses
|
|
(6,156)
|
|
(6,405)
|
|
|
|
|
|
Profit for the period from continuing operations
|
|
4,532
|
|
10,556
|
Loss from discontinued operations, net of tax
|
|
(1,666)
|
|
(7)
|
|
|
|
|
|
Profit for the period
|
|
2,866
|
|
10,549
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
The shareholders of the Company
|
|
2,559
|
|
10,273
|
Non-controlling interests
|
|
307
|
|
276
|
|
|
|
|
|
(In yen)
|
Earnings per share
|
|
|
|
|
Basic profit for the period attributable to the shareholders of the
Company
|
|
14.63
|
|
|
46.95
|
|
Diluted profit for the period attributable to the shareholders of
the Company
|
|
13.10
|
|
|
43.32
|
|
Earnings per share from continuing operations
|
|
|
|
|
Basic profit from continuing operations attributable to the
shareholders of the
|
|
|
|
|
|
|
Company
|
|
24.15
|
|
|
46.98
|
|
Diluted profit from continuing operations attributable to the
shareholders of the
|
|
|
|
|
|
|
Company
|
|
21.63
|
|
|
43.35
|
|
Earnings per share from discontinued operations
|
|
|
|
|
Basic loss from discontinued operations attributable to the
shareholders of the
|
|
|
|
|
|
|
Company
|
|
(9.52
|
)
|
|
(0.03
|
)
|
Diluted loss from discontinued operations attributable to the
shareholders of the
|
|
|
|
|
|
|
Company
|
|
(8.53
|
)
|
|
(0.03
|
)
|
|
(3) Interim Condensed Consolidated Statement of Comprehensive
Income - Unaudited
|
|
|
(In millions of yen)
|
|
|
For the six-month period ended June 30,
|
|
|
2016
|
|
2017
|
Profit for the period
|
|
2,866
|
|
10,549
|
Other comprehensive income
|
|
|
|
|
Items that may be reclassified to profit or loss:
|
|
|
|
|
Available-for-sale financial assets:
|
|
|
|
|
Net changes in fair value
|
|
(850)
|
|
4,295
|
Reclassification to profit or loss
|
|
273
|
|
(690)
|
Exchange differences on translation of foreign operations:
|
|
|
|
|
(Loss)/gain arising during the period
|
|
(1,256)
|
|
404
|
Reclassification to profit or loss
|
|
50
|
|
-
|
Proportionate share of other comprehensive income of associates and
joint ventures
|
|
(13)
|
|
(3)
|
Income tax relating to items that may be reclassified subsequently
to profit or loss
|
|
41
|
|
(929)
|
|
|
|
|
|
Total other comprehensive income for the period, net of tax
|
|
(1,755)
|
|
3,077
|
|
|
|
|
|
Total comprehensive income for the period, net of tax
|
|
1,111
|
|
13,626
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
The shareholders of the Company
|
|
767
|
|
13,347
|
Non-controlling interests
|
|
344
|
|
279
|
|
(4) Interim Condensed Consolidated Statement of Change in Equity -
Unaudited
|
(In millions of yen)
|
|
|
Equity attributable to the shareholder of the Company
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income
|
|
|
|
|
|
|
|
|
Share capital
|
|
Share premium
|
|
Accumulated deficit
|
|
Foreign currency translation reserve
|
|
Available-for- sale reserve
|
|
Defined benefit plan reserve
|
|
Total
|
|
Non- controlling interests
|
|
Total shareholder's equity
|
Balance at January 1, 2016
|
|
12,596
|
|
18,983
|
|
|
(19,204
|
)
|
|
240
|
|
|
6,917
|
|
|
(1,789
|
)
|
|
17,743
|
|
|
(210
|
)
|
|
17,533
|
|
Comprehensive income/(loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
period
|
|
-
|
|
-
|
|
|
2,559
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
2,559
|
|
|
307
|
|
|
2,866
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
comprehensive
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
income
|
|
-
|
|
-
|
|
|
-
|
|
|
(1,480
|
)
|
|
(312
|
)
|
|
-
|
|
|
(1,792
|
)
|
|
37
|
|
|
(1,755
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income/(loss) for the period
|
|
-
|
|
-
|
|
|
2,559
|
|
|
(1,480
|
)
|
|
(312
|
)
|
|
-
|
|
|
767
|
|
|
344
|
|
|
1,111
|
|
Recognition of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
share-based
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
payments
|
|
-
|
|
4,961
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
4,961
|
|
|
-
|
|
|
4,961
|
|
Forfeiture of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
option
|
|
-
|
|
(34
|
)
|
|
34
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Acquisition of a
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
subsidiary
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
92
|
|
|
92
|
|
Other
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
0
|
|
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at June 30, 2016
|
|
12,596
|
|
23,910
|
|
|
(16,611
|
)
|
|
(1,240
|
)
|
|
6,605
|
|
|
(1,789
|
)
|
|
23,471
|
|
|
226
|
|
|
23,697
|
|
|
(In millions of yen)
|
|
|
Equity attributable to the shareholders of the Company
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income
|
|
|
|
|
|
|
|
|
Share capital
|
|
Share premium
|
|
Accumulated deficit
|
|
Foreign currency translation reserve
|
|
Available-for- sale reserve
|
|
Defined benefit plan reserve
|
|
Total
|
|
Non- controlling interests
|
|
Total shareholders' equity
|
Balance at January 1, 2017
|
|
77,856
|
|
91,208
|
|
|
(12,381
|
)
|
|
(174
|
)
|
|
5,649
|
|
(1,324
|
)
|
|
160,834
|
|
|
189
|
|
161,023
|
|
Comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
period
|
|
-
|
|
-
|
|
|
10,273
|
|
|
-
|
|
|
-
|
|
-
|
|
|
10,273
|
|
|
276
|
|
10,549
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
comprehensive
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
income
|
|
-
|
|
-
|
|
|
-
|
|
|
390
|
|
|
2,684
|
|
-
|
|
|
3,074
|
|
|
3
|
|
3,077
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income for the period
|
|
-
|
|
-
|
|
|
10,273
|
|
|
390
|
|
|
2,684
|
|
-
|
|
|
13,347
|
|
|
279
|
|
13,626
|
|
Recognition of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
share-based
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
payments
|
|
-
|
|
748
|
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
|
748
|
|
|
-
|
|
748
|
|
Forfeiture of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
options
|
|
-
|
|
(8
|
)
|
|
8
|
|
|
-
|
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
Exercise of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
options
|
|
2,063
|
|
(619
|
)
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
|
1,444
|
|
|
-
|
|
1,444
|
|
Acquisition of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
non-controlling
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
interests
|
|
-
|
|
(46
|
)
|
|
-
|
|
|
2
|
|
|
-
|
|
-
|
|
|
(44
|
)
|
|
15
|
|
(29
|
)
|
Acquisition of a
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
subsidiary
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
|
-
|
|
|
380
|
|
380
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at June 30, 2017
|
|
79,919
|
|
91,283
|
|
|
(2,100
|
)
|
|
218
|
|
|
8,333
|
|
(1,324
|
)
|
|
176,329
|
|
|
863
|
|
177,192
|
|
|
(5) Notes to Interim Condensed Consolidated Financial
Statements - Unaudited
Notes for going concern assumption
Not applicable.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170726005613/en/
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