Q&A at the Conference on Financial Results are here.
- 1. When did you issue ADRs (American Depositary Receipts)?
- We issued them in 1997.
ADR (American Depositary Receipts) information
- 2. Did you pay year-end dividends for fiscal year ended March 31,2016?
- We paid a total ¥12 per share (¥5 for interim dividends and ¥7 for year-end dividends) for fiscal year ended March 31,2016.
- 3. Do you plan to pay year-end dividends for fiscal year ended March 31,2017?
- We intend to pay a total ¥10 per share (¥4 for interim dividends and ¥6 for year-end dividends) for fiscal year ended March 31,2017.
- 4. Do you plan to purchase the Company's own shares?
- We have amended the Articles of Incorporation at the Ordinary General Meeting of Shareholders held on June 29, 2004 so that we are able to purchase the Company's own shares by a resolution of the Board of Directors.
When we make a decision to purchase the Company's own shares by a resolution of the Board of Directors, it will be disclosed immediately.
- 5. When will you announce financial results?
- Please see "IR Calendar".
- 6. When did you hold an ordinary general meeting of shareholders?
- We did hold it on June 24.
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- 7. Where can I learn about your CSR activities?
- Please see "CSR".
Q&A at the conference on Financial Results for FY2015 (held on 27 April, 2016)
- 1. Please elaborate on the main reasons behind the large amount of losses recorded by the Ship & Offshore Structure segment in the fourth quarter of the fiscal year ended March 31, 2016.
- Paralleling a shift toward yen appreciation toward the end of the fiscal year, the segment suffered losses because of a drop in sales on construction projects contracted in foreign currencies, based on accounting by the percentage of completion method, and as a result of additional provision for loss on construction contracts. There were no new orders of shipbuilding in the fourth quarter, so the segment did not record any new provision for loss on construction contracts.
- 2. The Ship & Offshore Structure segment’s joint ventures in China are doing well, but what role is the Sakaide Works, in Japan, to play going forward?
- The Sakaide Works will construct liquefied gas carriers and, as a mother factory, develop and construct new hull forms, develop new production technology, and handle personnel training. Nantong COSCO KHI Ship Engineering Co., Ltd. (NACKS) and Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), the joint ventures in China, will be producing the ships that are developed at the Sakaide Works.
- 3. What is the status of progress on the construction of your offshore work vessel destined for Norway?
- This vessel is presently at the design stage, and it will take time to wrap this up because this is a high-performance offshore work vessel. Progress is about five months behind the initial schedule but construction work should start sometime during the fiscal year ending March 31, 2017, with completion expected in the fiscal year ending March 31, 2019.
- 4. Could you break down your forecast of the motorcycle market into developed countries and emerging markets?
- In developed countries, demand is relatively brisk in both North America and Europe. Going forward, we can expect gradual growth to continue. In emerging markets, our key markets are Indonesia, Thailand, the Philippines and Brazil, and while demand appears to be shrinking in some areas, recent trends indicate that demand as a whole may have bottomed out.
- 5. You anticipate huge growth for the Precision Machinery segment during the Medium-term Business Plan. Could you elaborate on the factors for growth specific to the hydraulic components and robots businesses?
- In the hydraulic components business, growth will come from sales expansions of the construction machinery and agricultural machinery sectors, which we have been working to cultivate for several years.
- In the robots business, we are anticipating increased demand for robots used in assembly and painting operations, semiconductor production and general industrial equipment. Growth will be fueled by higher sales of human-collaborative robots and for line builder solutions in China.