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furusato industries ltd (8087) Details

Furusato Industries, Ltd., together with its subsidiaries, provides steel frame building supplies and piping products in Japan. It offers industrial equipment, such as machines, industrial tools, components, consumable supplies, and other related supplies used for production activities in the manufacturing sector through machines and industrial tools dealers. The company also retails machines and industrial tools to the automotive sector; sells system kitchens, bath units, vanity units, toilets, and other related products to builders, constructors, remodeling companies, and others at wholesale; and imports machine tools, equipment, and tools. In addition, it is involved in the sale of shop-lifting prevention security systems; and proposal, design, construction, and maintenance of production lines and facilities. Further, the company provides machine and facility tools, including machine tools through machine dealers; and sells machines, facilities, and other related products directly to users, primarily machine and industrial tools suppliers. Additionally, it retails structural members, building and consumable supplies, machines, and tools to the steel fabricators who assemble steel frames of steel structure and steel reinforced concrete structure. Furthermore, the company retails equipment and tools, including pipes and fittings, valves, flanges, fastening products, and welding supplies to plumbing contractors who install, repair, and maintain piping facilities primarily in factories and manufacturing plants. The company was formerly known as Furusato Tekkosho Ltd. and changed its name to Furusato Industries, Ltd. in 1973. Furusato Industries, Ltd. was founded in 1959 and is headquartered in Osaka, Japan.

925 Employees
Last Reported Date: 06/28/16
Founded in 1959

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furusato industries ltd (8087) Key Developments

Furusato Industries Ltd., Annual General Meeting, Jun 28, 2016

Furusato Industries Ltd., Annual General Meeting, Jun 28, 2016.

Furusato Industries Ltd. Reports Consolidated and Non Consolidated Unaudited Earnings Results for the Year Ended March 31, 2016; Provides Earnings Guidance for Year Ending March 31, 2017

Furusato Industries Ltd. reported consolidated and non consolidated unaudited earnings results for the year ended March 31, 2016. For the year, on consolidated basis the company reported net sales were ¥94,857 million against ¥87,684 million reported year ago. Operating income was ¥3,556 million against ¥3,272 million reported year ago. Ordinary income was ¥3,854 million against ¥3,577 million reported year ago. Net income attributable to owners of parent was ¥2,416 million or ¥166.69 per share against ¥2,230 million or ¥153.81 per share reported year ago. Net cash provided by operating activities was ¥2,613 million against ¥2,700 million reported year ago. ROE was 7.0% against 6.8% reported year ago. ROA was 6.8% against 6.5% reported year ago. Income before income taxes was ¥3,742,819 million against ¥3,621,256 million reported year ago. For the year, on non consolidated basis the company reported net sales were ¥28,939 million against ¥28,401 million reported year ago. Operating income was ¥1,510 million against ¥1,728 million reported year ago. Ordinary income was ¥1,693 million against ¥1,923 million reported year ago. Net income was ¥1,023 million or ¥70.56 per share against ¥1,176 million or ¥81.13 per share reported year ago. For the year ending March 31, 2017, the company forecast net sales of ¥94,700 million, operating income of ¥3,190 million, ordinary income of ¥3,460 million and net income attributable to owners of parent of ¥2,260 million.

Furusato Industries Ltd. Revises Consolidated and Non-Consolidated Earnings Guidance for the Full Year Ending March 31, 2016

Furusato Industries Ltd. revised consolidated and non-consolidated earnings guidance for the full year ending March 31, 2016. For the year, on consolidated basis, the company now expects net sales of JPY 94,800 million compared with JPY 91,725 million, operating income of JPY 3,500 million compared with JPY 3,219 million, ordinary income of JPY 3,800 million compared with JPY 3,499 million, profit attributable to owners of parent of JPY 2,350 million and net income per share of JPY 162.09 compared with JPY 2,127 million and net income per share of JPY 146.70 provided in the previous guidance. Reason for the revision to the earnings forecasts: In the Equipment and Tools Business, net sales are expected to record a high-single digit growth, mainly led by the Industrial Equipment Business and the Machine and Tools for Automotive Business despite a decrease in sales and income in the previous second half forecast of fiscal 2015. In the Machine and Facility Business, net sales are expected to record a double-digit growth in the second half as a result of higher-than-expected sales based on steady backlog despite a decrease in sales and income in the previous second half forecast. In the Construction and Piping Products Business, net sales are expected to decrease slightly. According to the breakdown by business, in the Steel Frame Building Supplies Business, net sales are expected to decrease in the second half, reflecting further delay in construction works due to defective piling work problem as well as a shortage of construction workers. Meanwhile, in the Piping Products Business, net sales are expected to remain on an upward trend. Gross profit margin is expected to fall short of the previous forecast due to fierce price competition in the Steel Frame Building Supplies Business. Moreover, the company expects to record provision for removal expenses of noncurrent assets of ¥100 million under extraordinary losses based on the agreement for demolition work of old factory by factory relocation plan. Consequently, consolidated sales, operating income, ordinary income and net income attributable to owners of parent are expected to exceed the previous forecast. For the year, on non-consolidated basis, the company now expects net sales of JPY 28,900 million compared with JPY 29,207 million, operating income of JPY 1,450 million compared with JPY 1,544 million, ordinary income of JPY 1,600 million compared with JPY 1,705 million, profit attributable to owners of parent of JPY 950 million and net income per share of JPY 65.52 compared with JPY 998 million and net income per share of JPY 68.83 provided in the previous guidance. Although the company expected a slight increase in sales and a decrease in income below operating income in the previous second half forecast, in the Steel Frame Building Supplies Business, net sale are expected to decrease due to further delay in construction work. The gross profit margin is expected to fall short of the previous forecast due to fierce price competition and an increase in cost of finished products sold, resulting from a review of the useful life of building based on a decision of demolition of the old factory by factory relocation plan. Moreover, The company expects to record provision for removal expenses of noncurrent assets of ¥100 million under extraordinary losses based on the agreement for demolition work of old factory by factory relocation plan. Consequently, non-consolidated sales, operating income, ordinary income and net income attributable to owners of parent are expected to fall short of the previous forecast.

 

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