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1.
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Executive summary of the Japanese-language Quarterly Report, submitted by the registrant to the Director-General of the Kanto Local Finance Bureau of the Ministry of Finance of Japan on February 12, 2016.
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2.
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English-language translation of the registrant’s Quarterly Consolidated Financial Statements for the fiscal third quarter ended December 31, 2015, filed with the Director-General of the Kanto Local Finance Bureau as part of the registrant’s Quarterly Report.
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Advantest Corporation
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||||
By:
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/s/ Hiroshi Nakamura
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Name:
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Hiroshi Nakamura
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|||
Title:
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Director, Managing Executive Officer
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1.
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Corporate Overview
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·
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Significant financial indices
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·
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Business overview
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2.
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Business Information
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·
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Risk factors
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·
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Material agreements
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·
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Operating and financial review and prospects
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3.
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Company Data
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·
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Share information
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·
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Changes in directors and corporate auditors (none)
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4.
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Financial information
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·
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Consolidated financial statements (Unaudited)
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·
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Others
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Yen (Millions)
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||||||||
Assets
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March 31, 2015
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December 31, 2015
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||||||
Current assets:
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||||||||
Cash and cash equivalents
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¥ | 97,574 | 80,929 | |||||
Trade receivables, net
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24,960 | 21,703 | ||||||
Inventories
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37,210 | 37,347 | ||||||
Other current assets
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5,057 | 6,595 | ||||||
Total current assets
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164,801 | 146,574 | ||||||
Investment securities
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2,249 | 2,273 | ||||||
Property, plant and equipment, net of accumulated depreciation of 45,567 million yen
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38,480 | 36,293 | ||||||
and 46,293 million yen, as of March 31, 2015 and December 31, 2015, respectively
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||||||||
Intangible assets, net of accumulated amortization of 2,489 million yen
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4,085 | 3,501 | ||||||
and 3,057 million yen, as of March 31, 2015 and December 31, 2015, respectively
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||||||||
Goodwill
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54,590 | 54,747 | ||||||
Other assets
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8,836 | 8,597 | ||||||
Total assets
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¥ | 273,041 | 251,985 | |||||
Yen (Millions)
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||||||||
Liabilities and Stockholders’ Equity
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March 31, 2015
|
December 31, 2015
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||||||
Current liabilities:
|
||||||||
Trade accounts payable
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¥ | 18,101 | 10,103 | |||||
Accrued expenses
|
10,482 | 5,364 | ||||||
Income taxes payable
|
2,106 | 2,419 | ||||||
Accrued warranty expenses
|
1,525 | 1,721 | ||||||
Corporate bonds - current portion
|
10,000 | — | ||||||
Customer prepayments
|
4,900 | 3,561 | ||||||
Other current liabilities
|
2,572 | 3,541 | ||||||
Total current liabilities
|
49,686 | 26,709 | ||||||
Corporate bonds
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15,000 | 15,000 | ||||||
Convertible bonds
|
30,119 | 30,096 | ||||||
Accrued pension and severance costs
|
35,034 | 35,919 | ||||||
Other liabilities
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2,264 | 1,963 | ||||||
Total liabilities
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132,103 | 109,687 | ||||||
Commitments and contingent liabilities
|
||||||||
Stockholders’ equity:
|
||||||||
Common stock,
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||||||||
Authorized 440,000,000 shares; issued 199,566,770 shares
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32,363 | 32,363 | ||||||
Capital surplus
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43,770 | 43,761 | ||||||
Retained earnings
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141,104 | 141,177 | ||||||
Accumulated other comprehensive income
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18,387 | 19,582 | ||||||
Treasury stock, 25,020,294 shares and 24,993,916 shares as of March 31, 2015 and December 31, 2015, respectively
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(94,686 | ) | (94,585 | ) | ||||
Total stockholders’ equity
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140,938 | 142,298 | ||||||
Total liabilities and stockholders’ equity
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¥ | 273,041 | 251,985 |
Yen (Millions)
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||||||||
Nine months ended
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Nine months ended
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|||||||
December 31, 2014
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December 31, 2015
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|||||||
Net sales
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¥ | 119,902 | 116,648 | |||||
Cost of sales
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53,342 | 51,694 | ||||||
Gross profit
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66,560 | 64,954 | ||||||
Research and development expenses
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22,814 | 23,396 | ||||||
Selling, general and administrative expenses
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33,724 | 35,396 | ||||||
Impairment charge
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211 | — | ||||||
Operating income
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9,811 | 6,162 | ||||||
Other income (expense):
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||||||||
Interest and dividend income
|
150 | 245 | ||||||
Interest expense
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(103 | ) | (79 | ) | ||||
Gain on sale of investment securities
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677 | 22 | ||||||
Other, net
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2,770 | 115 | ||||||
Total other income (expense)
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3,494 | 303 | ||||||
Income before income taxes
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13,305 | 6,465 | ||||||
Income tax expense
|
4,064 | 2,841 | ||||||
Net income
|
¥ | 9,241 | 3,624 |
Yen
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||||||||
Nine months ended
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Nine months ended
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|||||||
December 31, 2014
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December 31, 2015
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|||||||
Net income per share:
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||||||||
Basic
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¥ | 53.05 | 20.76 | |||||
Diluted
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47.96 | 18.73 |
Yen (Millions)
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||||||||
Three months ended
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Three months ended
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|||||||
December 31, 2014
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December 31, 2015
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|||||||
Net sales
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¥ | 40,959 | 29,983 | |||||
Cost of sales
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17,645 | 11,979 | ||||||
Gross profit
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23,314 | 18,004 | ||||||
Research and development expenses
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7,792 | 7,418 | ||||||
Selling, general and administrative expenses
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11,892 | 11,172 | ||||||
Impairment charge
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211 | — | ||||||
Operating income (loss)
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3,419 | (586 | ) | |||||
Other income (expense):
|
||||||||
Interest and dividend income
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62 | 91 | ||||||
Interest expense
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(35 | ) | (24 | ) | ||||
Gain on sale of investment securities
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118 | 22 | ||||||
Other, net
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1,724 | 657 | ||||||
Total other income (expense)
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1,869 | 746 | ||||||
Income before income taxes
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5,288 | 160 | ||||||
Income tax expense
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632 | 967 | ||||||
Net income (loss)
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¥ | 4,656 | (807 | ) |
Yen
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||||||||
Three months ended
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Three months ended
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|||||||
December 31, 2014
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December 31, 2015
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|||||||
Net income (loss) per share:
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||||||||
Basic
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¥ | 26.73 | (4.63 | ) | ||||
Diluted
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24.15 | (4.63 | ) |
Yen (Millions)
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||||||||
Nine months ended
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Nine months ended
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|||||||
December 31, 2014
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December 31, 2015
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|||||||
Comprehensive income (loss)
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||||||||
Net income
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¥ | 9,241 | 3,624 | |||||
Other comprehensive income (loss), net of tax
|
||||||||
Foreign currency translation adjustments
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18,440 | 51 | ||||||
Net unrealized gains (losses) on investment securities:
|
(302 | ) | 38 | |||||
Pension related adjustments
|
784 | 1,106 | ||||||
Total other comprehensive income
|
18,922 | 1,195 | ||||||
Total comprehensive income
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¥ | 28,163 | 4,819 |
Yen (Millions)
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||||||||
Three months ended
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Three months ended
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|||||||
December 31, 2014
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December 31, 2015
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|||||||
Comprehensive income (loss)
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||||||||
Net income (loss)
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¥ | 4,656 | (807 | ) | ||||
Other comprehensive income (loss), net of tax
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||||||||
Foreign currency translation adjustments
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11,779 | 605 | ||||||
Net unrealized gains (losses) on investment securities:
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69 | 159 | ||||||
Pension related adjustments
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252 | 368 | ||||||
Total other comprehensive income
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12,100 | 1,132 | ||||||
Total comprehensive income
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¥ | 16,756 | 325 | |||||
Yen (Millions)
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||||||||
Nine months ended
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Nine months ended
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|||||||
December 31, 2014
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December 31, 2015
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|||||||
Cash flows from operating activities:
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||||||||
Net income
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¥ | 9,241 | 3,624 | |||||
Adjustments to reconcile net income to net cash
|
||||||||
provided by (used in) operating activities:
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||||||||
Depreciation and amortization
|
3,769 | 3,968 | ||||||
Deferred income taxes
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(75 | ) | 435 | |||||
Gain on sale of investment securities
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(677 | ) | (22 | ) | ||||
Changes in assets and liabilities:
|
||||||||
Trade receivables
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(5,617 | ) | 2,897 | |||||
Inventories
|
(1,551 | ) | (130 | ) | ||||
Trade accounts payable
|
718 | (7,753 | ) | |||||
Other account payable
|
953 | (125 | ) | |||||
Accrued expenses
|
1,096 | (5,172 | ) | |||||
Income taxes payable
|
3,208 | 288 | ||||||
Accrued warranty expenses
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(216 | ) | 188 | |||||
Customer prepayments
|
493 | (1,502 | ) | |||||
Accrued pension and severance costs
|
323 | 2,022 | ||||||
Other
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810 | (854 | ) | |||||
Net cash provided by (used in) operating activities
|
12,475 | (2,136 | ) | |||||
Cash flows from investing activities:
|
||||||||
Proceeds from sale of available-for-sale securities
|
1,806 | 54 | ||||||
Proceeds from sale of property, plant and equipment
|
59 | 509 | ||||||
Purchases of property, plant and equipment
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(2,486 | ) | (2,151 | ) | ||||
Purchases of intangible assets
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(307 | ) | (292 | ) | ||||
Other
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27 | (51 | ) | |||||
Net cash provided by (used in) investing activities
|
(901 | ) | (1,931 | ) | ||||
Cash flows from financing activities:
|
||||||||
Redemption of corporate bonds
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— | (10,000 | ) | |||||
Dividends paid
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(1,666 | ) | (3,339 | ) | ||||
Other
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114 | (22 | ) | |||||
Net cash provided by (used in) financing activities
|
(1,552 | ) | (13,361 | ) | ||||
Net effect of exchange rate changes on cash and cash equivalents
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6,126 | 783 | ||||||
Net change in cash and cash equivalents
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16,148 | (16,645 | ) | |||||
Cash and cash equivalents at beginning of period
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68,997 | 97,574 | ||||||
Cash and cash equivalents at end of period
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¥ | 85,145 | 80,929 |
(a)
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Terminology, Form and Method of Preparation of the Consolidated Financial Statements
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(b)
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Preparation of the Consolidated Financial Statements and Registration with the U.S. Securities and Exchange Commission
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(c)
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Significant differences from the preparation of financial statements under Japanese GAAP
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(a)
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Description of Business
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(b)
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Accounting Changes and Accounting Standards Not Yet Adopted
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(c)
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Reclassification
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Yen (Millions)
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||||||||
March 31, 2015
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December 31, 2015
|
|||||||
Finished goods
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¥ | 12,287 | 8,855 | |||||
Work in process
|
12,999 | 16,156 | ||||||
Raw materials and supplies
|
11,924 | 12,336 | ||||||
¥ | 37,210 | 37,347 |
Yen (Millions) | ||||||||||||||||
March 31, 2015
|
||||||||||||||||
Acquisition
cost
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Gross
unrealized gains
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Gross
unrealized losses
|
Fair value
|
|||||||||||||
Noncurrent:
|
||||||||||||||||
Available-for-sale:
|
||||||||||||||||
Equity securities
|
¥ | 987 | 786 | – | 1,773 | |||||||||||
Yen (Millions) | ||||||||||||||||
December 31, 2015 | ||||||||||||||||
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Acquisition
cost
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Gross
unrealized gains
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Gross
unrealized losses
|
Fair value
|
||||||||||||
Noncurrent:
|
||||||||||||||||
Available-for-sale:
|
||||||||||||||||
Equity securities
|
¥ | 953 | 860 | 16 | 1,797 |
Yen (Millions)
|
||||||||||||||||
March 31, 2015
|
||||||||||||||||
Less than 12 months
|
12 months or longer
|
|||||||||||||||
Fair value
|
Gross
unrealized
losses
|
Fair value
|
Gross
unrealized
losses
|
|||||||||||||
Noncurrent:
|
||||||||||||||||
Available-for-sale:
|
||||||||||||||||
Equity securities
|
¥ | – | – | – | – |
Yen (Millions)
|
||||||||||||||||
December 31, 2015
|
||||||||||||||||
Less than 12 months
|
12 months or longer
|
|||||||||||||||
Fair value
|
Gross
unrealized
losses
|
Fair value
|
Gross
unrealized
losses
|
|||||||||||||
Noncurrent:
|
||||||||||||||||
Available-for-sale:
|
||||||||||||||||
Equity securities
|
¥ | 61 | 16 |
–
|
–
|
|
Advantest uses derivative instruments primarily to manage exposures to foreign currency. The primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency. The instruments are not designated for trading or speculative purposes. Derivative financial instruments contain an element of risk in the event the counterparties are unable to meet the terms of the agreements. However, Advantest minimizes risk exposure by limiting the counterparties to major international banks and financial institutions meeting established credit guidelines. Management of Advantest does not expect any counterparty to default on its obligations and, therefore, does not expect to incur any losses due to counterparty default on its obligations. Advantest generally does not require or place collateral for these derivative financial instruments.
|
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Advantest recognizes derivative instruments as either assets or liabilities on the consolidated balance sheet at fair value. Changes in fair value of the derivatives are recorded as other income (expense).
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Yen (Millions)
|
|||||||||
Amount of gain (loss) recognized in
income on derivatives
|
|||||||||
Location of gain (loss) recognized in income on derivatives
|
Nine months ended
December 31, 2014 |
Nine months ended
December 31, 2015
|
|||||||
Foreign exchange contracts
|
Other income
|
¥ | 19 | 83 |
Yen (Millions)
|
|||||||||
Amount of gain (loss) recognized in
income on derivatives
|
|||||||||
Location of gain (loss) recognized in income on derivatives
|
Three months ended
December 31, 2014 |
Three months ended
December 31, 2015
|
|||||||
Foreign exchange contracts
|
Other income
|
¥ | 2 | 63 |
Yen (Millions)
|
||||||||||||||||
March 31, 2015
|
December 31, 2015
|
|||||||||||||||
Carrying
amount
|
Fair
value
|
Carrying
amount
|
Fair
value
|
|||||||||||||
Financial assets:
|
||||||||||||||||
Investment securities
|
||||||||||||||||
Available-for-sale securities
|
¥ | 1,773 | 1,773 | 1,797 | 1,797 | |||||||||||
Financial liabilities:
|
||||||||||||||||
Corporate bonds (Including current portion)
|
25,000 | 25,024 | 15,000 | 15,054 | ||||||||||||
Convertible bonds
|
30,119 | 33,555 | 30,096 | 30,285 |
Yen (Millions) | ||||||||||||||||
Fair Value Measurements at March 31, 2015 |
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
Assets
|
||||||||||||||||
Available-for-sale equity securities
|
¥ | 1,773 | 1,773 | – | – | |||||||||||
Total assets measured at fair value
|
1,773 | 1,773 | – | – |
Yen (Millions)
|
||||||||||||||||
Fair Value Measurements
at December 31, 2015
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
Assets
|
||||||||||||||||
Available-for-sale equity securities
|
¥ | 1,797 | 1,797 | – | – | |||||||||||
Total assets measured at fair value
|
1,797 | 1,797 | – | – | ||||||||||||
Yen (Millions)
|
||||||||||||||||
Fair Value Measurements
at March 31, 2015
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
Assets
|
||||||||||||||||
Assets held for sale
|
¥ | 122 | – |
–
|
122 | |||||||||||
Total assets measured at fair value
|
122 |
–
|
–
|
122 |
Yen (Millions)
|
||||||||
March 31, 2015
|
December 31, 2015
|
|||||||
Unsecured 0.416% bonds, due May 25, 2015
|
¥ | 10,000 |
-
|
|||||
Unsecured 0.606% bonds, due May 25, 2017
|
15,000 | 15,000 | ||||||
Corporate bonds
|
¥ | 25,000 | 15,000 | |||||
Unsecured zero coupon convertible bonds, due March 14, 2019
|
¥ | 30,000 | 30,000 | |||||
Add unamortized premium
|
119 | 96 | ||||||
Convertible bonds
|
¥ | 30,119 | 30,096 |
Yen (Millions)
|
||||||||||||||||
Nine months ended December 31, 2014
|
||||||||||||||||
Foreign currency translation adjustment
|
Net unrealized gains (losses) on investment securities
|
Pension related adjustment
|
Accumulated other comprehensive income (loss)
|
|||||||||||||
Balance at March 31, 2014
|
¥
|
16,489 | 907 | (12,070 | ) | 5,326 | ||||||||||
Other comprehensive income
|
||||||||||||||||
(loss) before reclassifications
|
18,440 | 136 | 46 | 18,622 | ||||||||||||
Amounts reclassified from
|
||||||||||||||||
Accumulated other comprehensive
|
||||||||||||||||
Income (loss)
|
–
|
(438 | ) | 738 | 300 | |||||||||||
Net change during the period
|
18,440 |
(302
|
) | 784 |
18,922
|
|||||||||||
Balance at December 31, 2014
|
¥
|
34,929 | 605 | (11,286 | ) | 24,248 |
Yen (Millions)
|
||||||||||||||||
Nine months ended December 31, 2015
|
||||||||||||||||
Foreign currency translation adjustment
|
Net unrealized gains (losses) on investment securities
|
Pension related adjustment
|
Accumulated other comprehensive income (loss)
|
|||||||||||||
Balance at March 31, 2015
|
¥ | 33,963 | 641 | (16,217 | ) | 18,387 | ||||||||||
Other comprehensive income
|
||||||||||||||||
(loss) before reclassifications
|
51 | 55 | 0 | 106 | ||||||||||||
Amounts reclassified from
|
||||||||||||||||
Accumulated other comprehensive
|
||||||||||||||||
Income (loss) |
–
|
(17 | ) | 1,106 |
1,089
|
|||||||||||
Net change during the period
|
51 | 38 | 1,106 |
1,195
|
||||||||||||
Balance at December 31, 2015
|
¥
|
34,014 | 679 | (15,111 | ) | 19,582 |
Yen (Millions)
|
||||||||||||
Amount reclassified from accumulated other comprehensive income (loss) (1)
|
||||||||||||
Nine months ended December 31, 2014
|
Nine months ended December 31, 2015
|
Affected line items
in consolidated statements of operations |
||||||||||
Unrealized gains and
|
||||||||||||
losses on investment securities
|
¥ | (677 | ) | (22 | ) |
Other income (expense): Other, net
|
||||||
239 | 5 |
Income taxes
|
||||||||||
(438 | ) | (17 | ) |
Net income (loss)
|
||||||||
Pension liability adjustments
|
||||||||||||
Amortization of actuarial loss
|
965 | 1,476 | (2) | |||||||||
Amortization of prior service cost
|
(126 | ) | (126 | ) | (2) | |||||||
(101 | ) | (244 | ) |
Income taxes
|
||||||||
738 | 1,106 |
Net income
|
||||||||||
Total amount reclassified, net of tax
|
¥ | 300 | 1,089 |
Yen (Millions)
|
||||||||||||
Amount reclassified from accumulated other comprehensive income (loss) (1)
|
||||||||||||
Three months ended December 31, 2014
|
Three months ended December 31, 2015
|
Affected line items
in consolidated statements of operations |
||||||||||
Unrealized gains and
|
||||||||||||
losses on investment securities
|
(118 | ) | (22 | ) |
Other income(expense): Other, net
|
|||||||
41 | 5 |
Income taxes
|
||||||||||
(77 | ) | (17 | ) |
Net income (loss)
|
||||||||
Pension liability adjustments
|
||||||||||||
Amortization of actuarial loss
|
324 | 480 | (2) | |||||||||
Amortization of prior service cost
|
(42 | ) | (42 | ) | (2) | |||||||
(35 | ) | (78 | ) |
Income taxes
|
||||||||
247 | 360 |
Net income
|
||||||||||
Total amount reclassified, net of tax
|
170 | 343 |
(1)
|
Amounts in parentheses indicate gain in consolidated statements of operations.
|
(2)
|
The accumulated other comprehensive income components are included in the computation of net periodic pension cost (see note 10 for additional details).
|
Yen (Millions)
|
||||||||||||||||
Nine months ended
|
||||||||||||||||
December 31, 2014
|
December 31, 2015
|
|||||||||||||||
Japanese
Plans
|
Non-Japanese
Plans
|
Japanese
Plans
|
Non-Japanese
Plans
|
|||||||||||||
Service cost
|
¥ | 1,332 | 413 | 1,413 | 557 | |||||||||||
Interest cost
|
453 | 397 | 384 | 275 | ||||||||||||
Expected return on plan assets
|
(502 | ) | (302 | ) | (704 | ) | (325 | ) | ||||||||
Amortization of unrecognized:
|
||||||||||||||||
Net actuarial (gain) or loss
|
673 | 292 | 678 | 798 | ||||||||||||
Prior service (benefit) cost
|
(126 | ) | – | (126 | ) | – | ||||||||||
Net periodic benefit cost
|
¥ |
1,830
|
800 | 1,645 | 1,305 | |||||||||||
Yen (Millions)
|
||||||||||||||||
Three months ended
|
||||||||||||||||
December 31, 2014
|
December 31, 2015
|
|||||||||||||||
Japanese
Plans
|
Non-Japanese
Plans
|
Japanese
Plans
|
Non-Japanese
Plans
|
|||||||||||||
Service cost
|
¥ | 444 | 126 | 471 | 176 | |||||||||||
Interest cost
|
151 | 135 | 128 | 87 | ||||||||||||
Expected return on plan assets
|
(167 | ) | (103 | ) | (235 | ) | (103 | ) | ||||||||
Amortization of unrecognized:
|
||||||||||||||||
Net actuarial (gain) or loss
|
224 | 100 | 226 | 254 | ||||||||||||
Prior service (benefit) cost
|
(42 | ) | – | (42 | ) |
–
|
||||||||||
Net periodic benefit cost
|
¥ |
610
|
258 | 548 | 414 | |||||||||||
Yen (Millions) | ||||||||
Nine months ended
|
||||||||
December 31, 2014
|
December 31, 2015
|
|||||||
|
|
|||||||
Balance at beginning of period
|
¥ | 1,589 | 1,525 | |||||
Addition
|
1,837 | 3,038 | ||||||
Reduction
|
(2,059 | ) | (2,840 | ) | ||||
Translation adjustments
|
79 | (2 | ) | |||||
Balance at end of period
|
¥ | 1,446 | 1,721 |
Yen (Millions)
|
||||||||||||||||||||
Nine months ended December 31, 2014
|
||||||||||||||||||||
Semiconductor and Component Test System Business
|
Mechatronics System Business
|
Services, Support and Others
|
Elimination and Corporate
|
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥
|
79,972 | 20,217 | 19,713 |
-
|
119,902 | ||||||||||||||
Inter-segment sales
|
80 |
-
|
-
|
(80 | ) |
-
|
||||||||||||||
Net sales
|
80,052 | 20,217 | 19,713 | (80 | ) | 119,902 | ||||||||||||||
Operating income (loss) before stock option compensation expense
|
10,255 | 2,620 | 2,440 | (5,504 | ) | 9,811 | ||||||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income
|
¥ | 9,811 |
Yen (Millions)
|
||||||||||||||||||||
Nine months ended December 31, 2015
|
||||||||||||||||||||
Semiconductor and Component Test System Business
|
Mechatronics System Business
|
Services, Support and Others
|
Elimination and Corporate
|
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥ | 69,344 | 24,865 | 22,439 |
-
|
116,648 | ||||||||||||||
Inter-segment sales
|
40 |
-
|
-
|
(40 | ) |
-
|
||||||||||||||
Net sales
|
69,384 | 24,865 | 22,439 | (40 | ) | 116,648 | ||||||||||||||
Operating income (loss) before stock option compensation expense
|
2,450 | 4,026 | 3,911 | (4,225 | ) | 6,162 | ||||||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income
|
¥ | 6,162 |
Yen (Millions)
|
||||||||||||||||||||
Three months ended December 31, 2014
|
||||||||||||||||||||
Semiconductor and Component Test System Business
|
Mechatronics System Business
|
Services, Support and Others
|
Elimination and Corporate
|
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥ | 25,047 | 9,117 | 6,795 |
-
|
40,959 | ||||||||||||||
Inter-segment sales
|
14 |
-
|
-
|
(14 | ) |
-
|
||||||||||||||
Net sales
|
25,061 | 9,117 | 6,795 | (14 | ) | 40,959 | ||||||||||||||
Operating income (loss) before stock option compensation expense
|
2,351 | 1,906 | 872 | (1,710 | ) | 3,419 | ||||||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income (loss)
|
¥ | 3,419 |
Yen (Millions)
|
||||||||||||||||||||
Three months ended December 31, 2015
|
||||||||||||||||||||
Semiconductor and Component Test System Business
|
Mechatronics System Business
|
Services, Support and Others
|
Elimination and Corporate
|
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥ | 18,176 | 4,607 | 7,200 |
-
|
29,983 | ||||||||||||||
Inter-segment sales
|
16 |
-
|
-
|
(16 | ) |
-
|
||||||||||||||
Net sales
|
18,192 | 4,607 | 7,200 | (16 | ) | 29,983 | ||||||||||||||
Operating income (loss) before stock option compensation expense
|
(329 | ) | (483 | ) | 1,580 | (1,354 | ) | (586 | ) | |||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income (loss)
|
¥ | (586 | ) |
Yen (Millions)
except share and per share data
|
||||||||
Nine months ended
|
Nine months ended
|
|||||||
December 31, 2014
|
December 31, 2015
|
|||||||
Numerator:
|
||||||||
Net income
|
¥ | 9,241 | 3,624 | |||||
Dilutive effect of exercise of convertible bonds
|
(12 | ) | (12 | ) | ||||
Diluted net income
|
9,229 | 3,612 | ||||||
Denominator:
|
||||||||
Basic weighted average shares of common stock outstanding
|
174,199,488 | 174,568,038 | ||||||
Dilutive effect of exercise of stock options
|
106,849 | 81,565 | ||||||
Dilutive effect of exercise of convertible bonds
|
18,126,888 | 18,126,888 | ||||||
Diluted weighted average shares of common stock outstanding
|
192,433,225 | 192,776,491 | ||||||
Basic net income per share
|
¥ | 53.05 | 20.76 | |||||
Diluted net income per share
|
¥ | 47.96 | 18.73 |
Yen (Millions)
except share and per share data
|
||||||||
Three months ended
|
Three months ended
|
|||||||
December 31, 2014
|
December 31, 2015
|
|||||||
Numerator:
|
||||||||
Net income (loss)
|
¥ | 4,656 | (807 | ) | ||||
Dilutive effect of exercise of convertible bonds
|
(4 | ) |
-
|
|||||
Diluted net income (loss)
|
4,652 | (807 | ) | |||||
Denominator:
|
||||||||
Basic weighted average shares of common stock outstanding
|
174,219,714 | 174,572,969 | ||||||
Dilutive effect of exercise of stock options
|
249,457 |
-
|
||||||
Dilutive effect of exercise of convertible bonds
|
18,126,888 |
-
|
||||||
Diluted weighted average shares of common stock outstanding
|
192,596,059 | 174,572,969 | ||||||
Basic net income (loss) per share
|
¥ | 26.73 | (4.63 | ) | ||||
Diluted net income (loss) per share
|
¥ | 24.15 | (4.63 | ) | ||||