TIDMMBC
RNS Number : 8357E
Mitsubishi Corporation
13 February 2015
Translation of report filed with the Tokyo Stock Exchange on
February 13, 2015
February 13, 2015
Corrections of Consolidated Financial Statements for the Six
Months Ended September 2014 (Based on IFRS)
Mitsubishi Corporation announced today the corrections of its
consolidated financial statements based on IFRS, for the six months
ended September 2014 originally announced on November 7, 2014.
1. Corrected items: Cash and cash equivalents and Time deposits as of September 30, 2014.
2. Corrected items are shown underlined in the Qualitative
Information Concerning Operating Results, Condensed Consolidated
Statement of Financial Position (IFRS) and Condensed Consolidated
Statement of Cash Flows (IFRS).
http://www.rns-pdf.londonstockexchange.com/rns/8357E_-2015-2-13.pdf
Qualitative Information Concerning Consolidated Operating
Results
(2) Qualitative Information Concerning Consolidated Financial
Position
<Before Corrections>
Cash Flows
Cash and cash equivalents at September 30, 2014 were 1,382.1
billion yen, an increase of 50.1 billion yen from March 31,
2014.
(Operating activities)
Net cash provided by operating activities was 300.6 billion yen,
mainly due to cash flows from operating transactions and dividend
income.
(Investing activities)
Net cash used in investing activities was 142.1 billion yen.
Investing activities used net cash mainly due to capital
expenditures in the Australian coal business and investments in
energy resource businesses, despite cash provided by the sale of
aircraft and the collection of loans receivable at
subsidiaries.
As a result, free cash flow, the sum of operating and investing
cash flows, was a positive 158.5 billion yen.
<After Corrections>
Cash Flows
Cash and cash equivalents at September 30, 2014 were 1,413.4
billion yen, an increase of 81.4 billion yen from March 31,
2014.
(Operating activities)
Net cash provided by operating activities was 269.3 billion yen,
mainly due to cash flows from operating transactions and dividend
income.
(Investing activities)
Net cash used in investing activities was 105.5 billion yen.
Investing activities used net cash mainly due to capital
expenditures in the Australian coal business and investments in
energy resource businesses, despite cash provided by the sale of
aircraft and the collection of loans receivable at
subsidiaries.
As a result, free cash flow, the sum of operating and investing
cash flows, was a positive 163.8 billion yen.
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(IFRS)
<Before Corrections>
(millions of yen)
Six months
ended
September
30, 2014
Cash and cash equivalents 1,382,115
---------------------------- -----------
Time deposits 173,213
---------------------------- -----------
<After Corrections>
(millions of yen)
Six months
ended
September
30, 2014
Cash and cash equivalents 1,413,431
---------------------------- -----------
Time deposits 141,897
---------------------------- -----------
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (IFRS)
<Before Corrections>
Millions of
Yen
------------
Six months
ended
September
30, 2014
------------------------------------------------ ------------
Operating activities:
Net income 271,600
Adjustments to reconcile net income
to net cash provided by operating activities:
Depreciation and amortization 95,270
Gains on investments (7,667)
Gains on long-lived assets (8,564)
Finance income _net of finance costs (108,339)
Income from investments accounted
for using the equity method (124,319)
Income taxes 73,759
Changes in notes and accounts receivable_trade 41,236
Changes in inventories (3,997)
Changes in notes, acceptance and accounts
payable_trade (35,092)
Other_net (23,288)
Dividends received 233,536
Interest received 40,082
Interest paid (31,761)
Income taxes paid (111,809)
Net cash provided by operating activities 300,647
Investing activities:
Expenditures for property and equipment (174,407)
Proceeds from sales of property and
equipment 62,399
Purchases of investments accounted for
using the equity method (77,359)
Proceeds from sales of investments accounted
for using the equity method 31,030
Acquisitions of businesses_net of cash
acquired (12,417)
Proceeds from sales of businesses_net
of cash divested 6,582
Purchases of other investments (20,421)
Proceeds from sales of other investments 28,720
Increase in loans receivable (44,962)
Collection of loans receivable 88,643
Net increase in time deposits (29,911)
------------
Net cash used in investing activities (142,103)
Financing activities:
Net (decrease) increase in short-term
debts 67,713
Proceeds from long-term debts_net of
issuance costs 466,044
Repayment of long-term debts (517,476)
Payment of dividends (62,647)
Payment of dividends to the non-controlling
interest (19,600)
Payment for acquisition of subsidiary's
interests from the non-controlling interest (5,136)
Proceeds from sales of subsidiary's
interests to the non-controlling interest 5,862
Net decrease (increase) in treasury
stock (59,840)
Net cash used in financing activities (125,080)
Effect of exchange rate changes on cash
and cash equivalents 16,615
------------
Net (decrease) increase in cash and cash
equivalents 50,079
------------
Cash and cash equivalents, beginning
of period 1,332,036
------------
Cash and cash equivalents, end of period 1,382,115
-------------------------------------------------- ------------
<After Corrections>
Millions of
Yen
------------
Six months
ended
September
30, 2014
------------------------------------------------ ------------
Operating activities:
Net income 271,600
Adjustments to reconcile net income
to net cash provided by operating activities:
Depreciation and amortization 95,270
Gains on investments (7,667)
Gains on long-lived assets (8,564)
Finance income _net of finance costs (108,339)
Income from investments accounted
for using the equity method (124,319)
Income taxes 73,759
Changes in notes and accounts receivable_trade 9,920
Changes in inventories (3,997)
Changes in notes, acceptance and accounts
payable_trade (35,092)
Other_net (23,288)
Dividends received 233,536
Interest received 40,082
Interest paid (31,761)
Income taxes paid (111,809)
Net cash provided by operating activities 269,331
Investing activities:
Expenditures for property and equipment (174,407)
Proceeds from sales of property and
equipment 62,399
Purchases of investments accounted for
using the equity method (77,359)
Proceeds from sales of investments accounted
for using the equity method 31,030
Acquisitions of businesses_net of cash
acquired (12,417)
Proceeds from sales of businesses_net
of cash divested 6,582
Purchases of other investments (20,421)
Proceeds from sales of other investments 28,720
Increase in loans receivable (44,962)
Collection of loans receivable 88,643
Net increase in time deposits 6,727
------------
Net cash used in investing activities (105,465)
Financing activities:
Net (decrease) increase in short-term
debts 67,713
Proceeds from long-term debts_net of
issuance costs 466,044
Repayment of long-term debts (517,476)
Payment of dividends (62,647)
Payment of dividends to the non-controlling
interest (19,600)
Payment for acquisition of subsidiary's
interests from the non-controlling interest (5,136)
Proceeds from sales of subsidiary's
interests to the non-controlling interest 5,862
Net decrease (increase) in treasury
stock (59,840)
Net cash used in financing activities (125,080)
Effect of exchange rate changes on cash
and cash equivalents 42,609
------------
Net (decrease) increase in cash and cash
equivalents 81,395
------------
Cash and cash equivalents, beginning
of period 1,332,036
------------
Cash and cash equivalents, end of period 1,413,431
-------------------------------------------------- ------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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