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Consolidated Financial Statements
Consolidated Balance Sheets
| Priorconsolidated fiscalyear (AsofOctober31,2014) |
Currentconsolidatedfiscalyear (AsofOctober31,2015) |
||
|---|---|---|---|
| Millions of yen | Millions of yen | Thousands of U.S. dollars (Note) |
|
ASSETS |
|||
Currentassets |
|||
| Cashanddeposits | ¥31,650 | ¥35,900 | $296,940 |
| Notesandaccountsreceivable-trade | 33,651 | 37,251 | 308,120 |
| Securities | 350 | 350 | 2,894 |
| Merchandiseandfinishedgoods | 595 | 672 | 5,566 |
| Rawmaterialsandsupplies | 227 | 272 | 2,253 |
| Constructionmachineparts | 6,566 | 8,214 | 67,947 |
| Deferredtaxassets | 656 | 610 | 5,051 |
| Other | 610 | 623 | 5,160 |
| Allowancefordoubtfulaccounts | (227) | (701) | (5,803) |
| Totalcurrentassets | 74,080 | 83,195 | 688,132 |
Non-currentassets |
|||
Property,plantandequipment |
|||
| Rentalequipment | 150,727 | 164,914 | 1,364,056 |
| Accumulateddepreciation | (85,083) | (97,573) | (807,056) |
| Rentalequipment,net | 65,644 | 67,341 | 556,999 |
| Buildingsandstructures | 23,691 | 25,840 | 213,732 |
| Accumulateddepreciation | (15,663) | (16,275) | (134,620) |
| Buildingsandstructures,net | 8,027 | 9,564 | 79,111 |
| Machinery,equipmentandvehicles | 5,541 | 5,714 | 47,266 |
| Accumulateddepreciation | (4,882) | (4,965) | (41,071) |
| Machinery,equipmentandvehicles,net | 659 | 749 | 6,195 |
| Land | 31,459 | 32,354 | 267,612 |
| Other | 1,563 | 2,539 | 21,005 |
| Accumulateddepreciation | (1,013) | (1,112) | (9,203) |
| Other,net | 549 | 1,426 | 11,802 |
| Totalproperty,plantandequipment | 106,341 | 111,436 | 921,721 |
Intangibleassets |
|||
| Goodwill | 57 | ー | ー |
| Other | 208 | 316 | 2,614 |
| Totalintangibleassets | 266 | 316 | 2,614 |
Investmentsandotherassets |
|||
| Investmentsecurities | 6,286 | 6,317 | 52,257 |
| Deferredtaxassets | 265 | 285 | 2,358 |
| Other | 1,854 | 2,008 | 16,610 |
| Allowancefordoubtfulaccounts | (491) | (528) | (4,373) |
| Allowanceforinvestmentloss | (110) | (110) | (910) |
| Totalinvestmentsandotherassets | 7,804 | 7,972 | 65,942 |
| Totalnon-currentassets | 114,411 | 119,724 | 990,278 |
Totalassets |
¥188,491 | ¥202,919 | $1,678,410 |
| Priorconsolidated fiscalyear (AsofOctober31,2014) |
Currentconsolidatedfiscalyear (AsofOctober31,2015) |
||
|---|---|---|---|
| Millions of yen | Millions of yen | Thousands of U.S. dollars (Note) |
|
Liabilities |
|||
Currentliabilities |
|||
| Notesandaccountspayable-trade | ¥23,134 | ¥27,775 | $229,740 |
| Short-termloanspayable | 612 | 727 | 6,015 |
| Currentportionoflong-termloanspayable | 11,883 | 12,550 | 103,811 |
| Leaseobligations | 995 | 1,585 | 13,110 |
| Incometaxespayable | 3,729 | 3,711 | 30,701 |
| Provisionforbonuses | 850 | 856 | 7,085 |
| Accountspayable-other | 16,460 | 19,233 | 159,082 |
| Other | 2,988 | 3,093 | 25,591 |
| Totalcurrentliabilities | 60,655 | 69,534 | 575,139 |
Non-currentliabilities |
|||
| Long-termloanspayable | 21,698 | 19,614 | 162,239 |
| Leaseobligations | 2,082 | 1,831 | 15,149 |
| Long-termaccountspayable-other | 37,853 | 39,254 | 324,686 |
| Netdefinedbenefitliability | 16 | ー | ー |
| Assetretirementobligations | 231 | 317 | 2,625 |
| Other | 440 | 368 | 3,050 |
| Totalnon-currentliabilities | 62,322 | 61,387 | 507,751 |
Totalliabilities |
122,978 | 130,921 | 1,082,891 |
Netassets |
|||
Shareholders’equity |
|||
| Capitalstock | 13,652 | 13,652 | 112,927 |
| Capitalsurplus | 14,916 | 14,916 | 123,382 |
| Retainedearnings | 32,860 | 41,156 | 340,415 |
| Treasuryshares | (56) | (2,128) | (17,607) |
| Totalshareholders'equity | 61,373 | 67,597 | 559,117 |
Accumulatedothercomprehensiveincome |
|||
| Valuationdifferenceonavailable-for-salesecurities | 1,977 | 1,948 | 16,112 |
| Deferredgainsorlossesonhedges | ー | (0) | (0) |
| Foreigncurrencytranslationadjustment | 14 | 43 | 359 |
| Totalaccumulatedothercomprehensiveincome | 1,992 | 1,991 | 16,470 |
Minorityinterests |
2,147 | 2,409 | 19,931 |
Totalnetassets |
65,513 | 71,998 | 595,519 |
Totalliabilitiesandnetassets |
¥188,491 | ¥202,919 | $1,678,410 |
Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥120.90=US$1, the approximate exchange rate on October 30, 2015.
Consolidated Statements of Income
| Prior Consolidated Fiscal Year (From November 1, 2013 to October 31, 2014) |
Current Consolidated Fiscal Year (From November 1, 2014 to October 31, 2015) |
||
|---|---|---|---|
| Millions of yen | Millions of yen | Thousands of U.S. dollars (Note) |
|
Netsales |
¥125,555 | ¥133,292 | $1,102,498 |
Costofsales |
85,334 | 91,886 | 760,024 |
Grossprofit |
40,220 | 41,405 | 342,473 |
Selling,generalandadministrativeexpenses |
23,766 | 25,134 | 207,892 |
Operatingincome |
16,454 | 16,270 | 134,580 |
Non-operatingincome |
|||
| Interestincome | 9 | 8 | 74 |
| Dividendincome | 90 | 111 | 923 |
| Insuranceincome | 33 | 42 | 348 |
| Rentincome | 57 | 65 | 541 |
| Areceiptbonus | 42 | 26 | 217 |
| Foreignexchangegains | 183 | 96 | 799 |
| Reversalofallowancefordoubtfulaccounts | 79 | 4 | 38 |
| Other | 218 | 225 | 1,868 |
| Totalnon-operatingincome | 714 | 581 | 4,812 |
Non-operatingexpenses |
|||
| Interestexpenses | 609 | 461 | 3,814 |
| Lossonsalesofnotespayable | 34 | 18 | 153 |
| Other | 445 | 208 | 1,725 |
| Totalnon-operatingexpenses | 1,090 | 688 | 5,693 |
Ordinaryincome |
16,078 | 16,164 | 133,699 |
Extraordinaryincome |
|||
| Gainonsalesofnon-currentassets | 37 | 12 | 103 |
| Subsidyincome | 12 | 12 | 102 |
| Gainonsalesofinvestmentsecurities | ー | 307 | 2,543 |
| Gainonsalesofsharesofsubsidiariesandassociates | ー | 68 | 567 |
| Compensationincomefordamage | ー | 118 | 976 |
| Other | 0 | ー | ー |
| Totalextraordinaryincome | 49 | 519 | 4,294 |
Extraordinarylosses |
|||
| Impairmentloss | ー | 171 | 1,421 |
| Lossonsalesandretirementofnon-currentassets | 215 | 157 | 1,303 |
| Lossonvaluationofinvestmentsecurities | ー | 87 | 719 |
| Lossonrevisionofretirementbenefitplan | 43 | ー | ー |
| Totalextraordinarylosses | 258 | 416 | 3,445 |
Incomebeforeincometaxesandminorityinterests |
15,869 | 16,266 | 134,548 |
Incometaxes-current |
5,849 | 6,318 | 52,258 |
Incometaxes-deferred |
284 | 98 | 814 |
Totalincometaxes |
6,134 | 6,416 | 53,073 |
Incomebeforeminorityinterests |
9,734 | 9,850 | 81,474 |
Minorityinterestsinincome |
435 | 292 | 2,421 |
Netincome |
¥9,299 | ¥9,557 | $79,053 |
Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥120.90=US$1, the approximate exchange rate on October 30, 2015.
Consolidated Statements of Comprehensive Income
| Prior consolidated fiscal year (From November 1, 2013 to October 31, 2014) |
Current consolidated fiscal year (From November 1, 2014 to October 31, 2015) |
||
|---|---|---|---|
| Millions of yen | Millions of yen | Thousands of U.S. dollars (Note) |
|
Income before minority interests |
¥9,734 | ¥9,850 | $81,474 |
| Other comprehensive income | |||
| Valuation difference on available-for-sale securities | 409 | (29) | (244) |
| Deferred gains or losses on hedges | ー | (0) | (1) |
| Foreign currency translation adjustment | 19 | 25 | 208 |
| Total other comprehensive income | 429 | (4) | (37) |
Comprehensive income |
10,164 | 9,845 | 81,437 |
| Comprehensive income attributable to | |||
| Comprehensive income attributable to owners of parent | 9,725 | 9,556 | 79,045 |
| Comprehensive income attributable to minority interests | ¥439 | ¥289 | $2,392 |
Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥120.90=US$1, the approximate exchange rate on October 30, 2015.
Consolidated Statements of Changes in Equity
(From November 1, 2013 to October 31, 2015)
| Shareholders’ equity | Accumulated other comprehensive income | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capital stock | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | Valuation difference on available-forsale securities | Deferred gains or losses on hedges | Foreign currency translation adjustment | Total accumulated other comprehensive income | Minority interests | Total net assets | |
| Millions of yen | |||||||||||
Balance at November 1, 2013 |
¥13,652 | ¥14,916 | ¥24,462 | ¥(48) | ¥52,983 | ¥1,567 | ¥ー | ¥(1) | ¥1,566 | ¥1,643 | ¥56,192 |
Changes of items during period |
|||||||||||
| Dividends of surplus | (901) | (901) | (901) | ||||||||
| Net income | 9,299 | 9,299 | 9,299 | ||||||||
| Purchase of treasury shares | (8) | (8) | (8) | ||||||||
| Net changes of items other than shareholders' equity | 409 | 16 | 426 | 504 | 930 | ||||||
Total changes of items during period |
ー | ー | 8,397 | (8) | 8,389 | 409 | ー | 16 | 426 | 504 | 9,320 |
Balance at November 1, 2014 |
¥13,652 | ¥14,916 | ¥32,860 | ¥(56) | ¥61,373 | ¥1,977 | ¥ー | ¥14 | ¥1,992 | ¥2,147 | ¥65,513 |
Changes of items during period |
|||||||||||
| Dividends of surplus | (1,261) | (1,261) | ー | (1,261) | |||||||
| Net income | 9,557 | 9,557 | ー | 9,557 | |||||||
| Purchase of treasury shares | (2,072) | (2,072) | ー | (2,072) | |||||||
| Net changes of items other than shareholders' equity | (29) | (0) | 28 | (0) | 261 | 260 | |||||
Total changes of items during period |
ー | ー | 8,296 | (2,072) | 6,223 | (29) | (0) | 28 | (0) | 261 | 6,484 |
Balance at October 31, 2015 |
¥13,652 | ¥14,916 | ¥41,156 | ¥(2,128) | ¥67,597 | ¥1,948 | ¥(0) | ¥43 | ¥1,991 | ¥2,409 | ¥71,998 |
| Shareholders’ equity | Accumulated other comprehensive income | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capital stock | Capital surplus | Retained earnings | Treasury shares | Total shareholders’ equity | Valuation difference on available-forsale securities | Deferred gains or losses on hedges | Foreign currency translation adjustment | Total accumulated other comprehensive income | Minority interests | Total net assets | |
| Thousands of U.S. dollars (Note) | |||||||||||
Balance at November 1, 2014 |
$112,927 | $123,382 | $271,794 | $(467) | $507,637 | $16,357 | $ー | $121 | $16,478 | $17,765 | $541,881 |
Changes of items during period |
|||||||||||
| Dividends of surplus | (10,433) | (10,433) | ー | (10,433) | |||||||
| Net income | 79,053 | 79,053 | ー | 79,053 | |||||||
| Purchase of treasury shares | (17,140) | (17,140) | ー | (17,140) | |||||||
| Net changes of items other than shareholders' equity | (244) | (1) | 238 | (8) | 2,165 | 2,157 | |||||
Total changes of items during period |
ー | ー | 68,620 | (17,140) | 51,480 | (244) | (1) | 238 | (8) | 2,165 | 53,637 |
Balance at October 31, 2015 |
$112,927 | $123,382 | $340,415 | $(17,607) | $559,117 | $16,112 | $(1) | $359 | $16,470 | $19,931 | $595,519 |
Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥120.90=US$1, the approximate exchange rate on October 30, 2015.
Consolidated Statements of Cash Flows
| Prior consolidated fiscal year (From November 1, 2013 to October 31, 2014) |
Current consolidated fiscal year (From November 1, 2014 to October 31, 2015) |
||
|---|---|---|---|
| Millions of yen | Millions of yen | Thousands of U.S. dollars (Note) |
|
Cash flows from operating activities |
|||
| Income before income taxes and minority interests | ¥15,869 | ¥16,266 | $134,548 |
| Depreciation | 17,950 | 20,273 | 167,689 |
| Impairment loss | ー | 171 | 1,421 |
| Amortization of goodwill | 26 | 10 | 88 |
| Loss (gain) on sales and retirement of non-current assets | 178 | 145 | 1,200 |
| Amount of assets purchased on installment for small rentals | 0 | ー | ー |
| Amount of cost price transfer with sale of construction machine parts | 8 | 7 | 58 |
| Amount of cost price transfer with sale of rental assets | 684 | 944 | 7,809 |
| Expenditures for acquisition of construction machine parts | (124) | (132) | (1,096) |
| Expenditures for acquisition of rental assets | (2,633) | (1,198) | (9,913) |
| Loss (gain) on valuation of investment securities | ー | 87 | 719 |
| Loss (gain) on sales of investment securities | ー | (307) | (2,543) |
| Loss (gain) on sales of shares of subsidiaries and associates | ー | (68) | (567) |
| Increase (decrease) in allowance for doubtful accounts | (183) | 498 | 4,121 |
| Increase (decrease) in allowance for investment loss | 42 | ー | ー |
| Increase (decrease) in provision for bonuses | 26 | 17 | 145 |
| Increase (decrease) in allowance for losses on employee pension fund withdrawal | (200) | ー | ー |
| Increase (decrease) in net defined benefit liability | 8 | 6 | 53 |
| Interest and dividend income | (99) | (120) | (998) |
| Interest expense on installment purchases of rental assets | 347 | 380 | 3,146 |
| Interest expenses | 609 | 461 | 3,814 |
| Foreign exchange losses (gains) | (138) | (64) | (532) |
| Compensation income for damage | ー | (118) | (976) |
| Loss on revision of retirement benefit plan | 43 | ー | ー |
| Decrease (increase) in notes and accounts receivable - trade | (5,833) | (3,613) | (29,890) |
| Decrease (increase) in inventories | (6) | (109) | (905) |
| Increase (decrease) in notes and accounts payable - trade | 2,029 | 4,486 | 37,106 |
| Increase (decrease) in accounts payable - other | 1,728 | 2,101 | 17,384 |
| Other, net | 941 | 295 | 2,444 |
| Subtotal | 31,275 | 40,420 | 334,327 |
| Interest and dividend income received | 99 | 120 | 998 |
| Compensation for damage income received | ー | 118 | 976 |
| Interest expenses paid | (969) | (828) | (6,852) |
| Income taxes paid | (5,622) | (6,320) | (52,282) |
| Net cash provided by (used in) operating activities | ¥24,782 | ¥33,509 | $277,168 |
Cash flows from investing activities |
|||
| Payments into time deposits | ¥(340) | ¥(80) | $(661) |
| Proceeds from withdrawal of time deposits | 340 | ー | ー |
| Purchase of property, plant and equipment | (3,102) | (4,113) | (34,027) |
| Proceeds from sales of property, plant and equipment | 40 | 34 | 286 |
| Purchase of intangible assets | (84) | (160) | (1,327) |
| Purchase of investment securities | (311) | (72) | (600) |
| Proceeds from sales of investment securities | 0 | 330 | 2,736 |
| Purchase of shares of subsidiaries | (27) | (213) | (1,762) |
| Proceeds from sales of shares of subsidiaries resulting in change in scope of consolidation | ー | 51 | 425 |
| Purchase of shares of subsidiaries and associates | (66) | (54) | (452) |
| Payments of loans receivable | (5) | (98) | (817) |
| Collection of loans receivable | 165 | 4 | 36 |
| Other, net | 17 | (115) | (957) |
| Net cash provided by (used in) investing activities | (3,374) | (4,488) | (37,122) |
Cash flows from financing activities |
|||
| Net increase (decrease) in short-term loans payable | 3 | 102 | 845 |
| Proceeds from long-term loans payable | 8,700 | 11,462 | 94,811 |
| Repayments of long-term loans payable | (13,726) | (12,984) | (107,401) |
| Repayments of installment payables | (15,132) | (18,913) | (156,443) |
| Repayments of lease obligations | (1,347) | (1,188) | (9,831) |
| Purchase of treasury shares | (8) | (2,072) | (17,140) |
| Purchase of treasury shares of subsidiaries | (0) | (0) | (0) |
| Cash dividends paid | (899) | (1,259) | (10,419) |
| Proceeds from share issuance to minority shareholders | 8 | ー | ー |
| Cash dividends paid to minority shareholders | (3) | (3) | (24) |
| Net cash provided by (used in) financing activities | (22,405) | (24,857) | (205,604) |
Effect of exchange rate change on cash and cash equivalents |
21 | 5 | 47 |
Net increase (decrease) in cash and cash equivalents |
(976) | 4,169 | 34,488 |
Cash and cash equivalents at beginning of period |
32,957 | 31,980 | 264,520 |
Cash and cash equivalents at end of period |
¥31,980 | ¥36,150 | $299,008 |
Note: U.S. dollar amounts have been translated from yen for convenience only, at the rate ¥120.90=US$1, the approximate exchange rate on October 30, 2015.