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3. Management Record
(1) Outline of the current period
Although the economy of Japan for this consolidated fiscal year
showed signs of slow recovery with the information technology
industry taking the lead, the unemployment rate remained on
a high level and in the consumer spending, trends of recovery
were hardly shown. In the latter half of this period, a rapid
slowdown of US economy and a subsequent letup in IT related
demand caused anxiety of recession to emerge.
In the building facilities industry, although capital investment
was increased in part of the manufacturing industry, under business
stagnant atmosphere, what with sluggish private capital investment
and public investment hanging low due to tight financial conditions
of local governments, the order environments were continuously
severe.
Under these severe economic conditions, our corporate group
has fully implemented the intermediate term management plan
as mentioned above. The consolidated amount of work orders received
was 158,657million yen, a decrease of 9.1% over that of the
previous period, which was due to the severe order environments
and changing the recording method for work orders received.
The consolidated amount of work completed was 178,589 million
yen, an increase of 5.9% over that of the previous period.
As far as profits are concerned, due to decreased construction
gross profit margin in the intensive competition, operating
profits totaled 1,065 million yen, a decrease of 73.5% over
that of the previous period, and ordinary profits totaled 1,317
million yen, a decrease of 69.0% over that of the previous period.
To aim at wholesome financial affairs, lump-sum write-off of
a 11,213 million yen deficit in reserves for severance costs
accounts, a 3,431 million yen mandatory write-down of real property
to be sold, a 3,115 million yen loss due to extraordinary construction
settlement, and a 4,051 million yen profit from severance costs
in trust, were accounted. As a result, the net loss totaled
8,480 million yen.
In regard to consolidated cash flow for the current consolidated
fiscal year, cash flow on sales activities was + 2,544 million
yen, cash flow on investment activities was + 1,037 million
yen, cash flow on financial activities was |1,790 million yen.
By adding up a 5 million yen exchange translation difference
to the above increase and decrease, the difference was a 1,796
million yen increase. Cash and cash equivalence balance at the
end of the current period amounted to 33,068 million yen. In
regard to stock dividends of our company, though we accounted
net loss for the current period, we plan to pay an ordinary
dividend of 5 and a special dividend of 6 per share, a total
11 per share for the current period as in the previous period,
based on our basic policy concerning profit sharing. Since an
ordinary dividend of 5 was paid for the mid-term period, dividend
for the entire period will become 16 per share.
(2) Forecast for the next period
Phenomena such as bad debts managing, sluggish capital investments,
and the slow-down of US economy eliciting economic recession,
the business situation seems to be continuously at a standstill.
In the light of these conditions, it is predicted that invisible
and unstable economic situation will continue.
In the construction and facilities industry, it is predicted
that severer order environments including the reduction of market,
price destruction, and anxiety of "deflation pressure" will
continue.
To cope with such a situation, our corporate group will concentrate
our efforts en bloc to garner orders and increase efficiency
of job execution.
Received work orders of 169,000 million yen, completed work
of 164,000 million yen, ordinary profits of 2,100 million yen,
and a current net profit of 700 million yen are predicted for
the next period.
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bBrief Report(Consolidated)b
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Copyright 2004 DAI-DAN Co.,Ltd. |
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