JSP Corp. Reports Consolidated Earnings Results for the First Half Ended September 30, 2014; Revises Earnings Guidance for the Year 2015; Provides Dividend Guidance for the Year Ending March 31, 2015; Announces Second Quarter End Dividend, Payable on December 4, 2014
October 29, 2014
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JSP Corporation reported consolidated earnings results for the first half ended September 30, 2014. For the quarter, on consolidated basis, the company reported net sales of ¥58,266 million against ¥54,465 million a year ago. Operating income was ¥2,673 million against ¥2,798 million a year ago. Ordinary income was ¥2,936 million against ¥3,095 million a year ago. Net income was ¥2,157 million or ¥72.36 per share against ¥2,278 million or ¥76.42 per share a year ago. Net assets per share as of September 30, 2014 were ¥1,983.51 per share compared to ¥1,940.48 per share, as of March 31, 2014. Net cash provided by operating activities totaled ¥1,551 million, a decrease of ¥810 million from the same period of the previous fiscal year. Net cash used in investing activities totaled ¥3,998 million, an increase of ¥466 million from the same period of the previous fiscal year. This included an outflow of ¥4,002 million for the purchase of non-current assets.
The company revised earnings guidance for the year 2015, the company now expects to report net sales of ¥115,500 million, operating income of ¥6,000 million, ordinary income of ¥6,200 million and net income of ¥4,200 million or ¥140.88 per share compared to previously expected sales of ¥117,000 million, operating income of ¥7,100 million, ordinary income of ¥7,200 million and net income of ¥4,900 million or ¥164.35 per share. The company reported that there are two primary reasons for revision of guidance. First is the delay in revising selling prices to reflect the higher cost of raw materials and fuel, electricity and cargo transportation in Japan. Second is the larger than expected drop in demand from a reactionary falloff in the wake of the consumption tax hike in Japan.
For the year ending March 31, 2015, the company expected to pay yearend dividend of ¥15.00 per share in line with previous year dividend.
The company also announced second quarter end dividend of ¥15.00 per share for fiscal 2015 compared to ¥15.00 paid for the same period a year ago. The scheduled date of payment of dividend is December 4, 2014.
JSP Corp is a Japan-based company mainly engaged in the manufacture and sale of plastic products with enhanced functionality and economic efficiency, mainly using foaming technology. The Company operates business through two business segments. The Extrusion segment is engaged in the manufacture and sale of polystyrene, polyethylene, polypropylene sheets, boards and others, using extrusion foam technology as its core. The Beads segment is engaged in the manufacture and sale of foamed polypropylene, foamed polyethylene, and foamed polystyrene products based on bead foaming technology. The Company also operates businesses related to the sale of general packaging materials.
JSP Corp. Reports Consolidated Earnings Results for the First Half Ended September 30, 2014; Revises Earnings Guidance for the Year 2015; Provides Dividend Guidance for the Year Ending March 31, 2015; Announces Second Quarter End Dividend, Payable on December 4, 2014
JSP CORPORATION 
