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パワーポイントテンプレート

Presentation Material:

Announc ement of FY 2011 Year -End Resul ts

May 16, 2012

“To create smiles from the kitchen”

(2)

Ⅰ . Resul ts Outl i ne

(3)

100,851

2,876

2,590

257

5.49

2011/3

(Actual Results)

Net Sales Operating

Income Ordinary

Income Net Income

Net Income Per Share

103,377

2,370

2,083

2,155

46.27

2012/3

(Actual Results)

100,000

1,600

1,500

300

6.44

2012/3

(Initial Forecast)

2.5

17.6

19.5

738.5

742.8

Change From Prev. Period

Compared To Revised Plan

0.9

12.9

9.7

19.8

19.8

10,500

2,100

1,900

1,800

38.63

2012/3

(Revised Forecast)

1. Outl i ne of Consol i dated Resul ts for Per i od Ended Mar c h 2012

(Units: millions of yen)

Initial Forecast: Announced August 6, 2011

Revised Forecast: Announced February 6, 2012

(4)

1,670 million yen

1,110 million yen

Net Sales

Cost of Sales

Gross Profit Cost of Sales Ratio

+ 2.52 billion yen

+ 2.78 billion yen

1.1

△ 0.26 billion yen

System Kitchens ・S.S.

CLEANLADY RAKUERA

Sectional System Kitchen

System Bathrooms

Increase Due to Increased Earnings

Increase Due to Increased Cost of Sales Ratio

Decrease in S.S Cost Ratio

Increase in CLEANLADY Cost Ratio

Increase in RAKUERA Cost Ratio

Increase in System Bathrooms Cost Ratio

Increase in Cost of Raw Mat

Cost Decrease

Increase Due to Increased in Net Sales

Decrease in Gross Profit Ratio

3,530 million yen

3,160 million yen

5,530 million yen

1,010 million yen

1,700 million yen

1,230 million yen

0.1 points

0.6 points

0.2 points

0.5 points

0.2 points

0.3 points

850 million yen

1,110 million yen

100.85

66.73

34.11

33.8

66.2

103.37

69.51

33.85

32.7

67.3

2. Consol i dated Pr ofi ts

Net Sal es, Gr oss Pr ofi t

(Units: billions of yen) Increased/Decreased Values (Rates) Main Increase/Decrease Factors

(5)

Gross Profit

SGA Expenses

Operating Income SGA Ratio

△ 0.26 billion yen

+ 0.25 billion yen

0.5

△ 0.51 billion yen

34.11

31.23

2.87

2.8

31.0

33.85

31.48

2.37

2.3

30.5

2. Consol i dated Pr ofi ts

SGA Expenses, Oper ati ng Inc om e

(Units: billions of yen) Increased/Decreased Values (Rates)

Main Increase/Decrease Factors

Sales Expenses

Distribution Expenses

Personnel Expenses

Administrative Expenses

(Travel, Supplies, Fees, etc.)

60 million yen

230 million yen

90 million yen

140 million yen

Sales Expenses

Distribution Expenses

Personnel Expenses

Administrative Expenses

0.0 points

0.1 points

0.2 points

0.4 points

Decrease in Gross Profit

Change in SGA Expenses

260 million yen

250 million yen

(6)

2011/3 2012/3 2013/3

78,501 17,885

4,464

85,357 20,689

4,954

79,558 19,050 4,768

0 20,000 40,000 60,000 80,000 100,000 120,000

Kitchen Equipment Bathtubs & Washstands Other

76.9 18.6 4.5%

2011/3

2012/3

77.0 18.4

4.6

100,851

77.9 17.7

4.4

103,377

111,000

3. Sal es Com posi ti on

By Segm ent (Consol i dated)

(Units: millions of yen)

Ki tc hen Equi pment Bathtubs &

Washstands

Other

Ki tc hen Equi pment Bathtubs &

Washstands

Other

(Forecast)

(7)

2009/3 2010/3 2011/3

2012/3 2013/3

0

Direc t-S ales (Con domin iu m own ers)

Hou sin g Con stru c tors

G en eral R ou tes (Con stru c tion Con trac tors - Home R en ovation )

78.6 15.7

5.7

73.6 17.1 9.3

75.6 16.7 7.7

79.1 80.1 14.9

15.3 6.0

4.6

3. Sal es Com posi ti on

By Sal es Route (Non-Consol i dated)

(Forecast)

(8)

25.28 26.14 4.77 2.01 43.78

51.87

3.61 2.45

0

2011/3 2012/3

0.44

billion yen

Tangible Fixed Assets

Intangible Fixed Assets

Securities Investments

Current Assets

Fixed Assets

Cash and Deposits

Notes and Accounts Receivable

Decrease in Direct-Sales Inventory

Increase in Marketable Securities (CP)

Increase in Accounts Receivable-Other

Total Assets

Cash and Deposits

Notes and Accounts Receivable

Inventory

Fixed Assets

9.66

billion yen

8.09

billion yen

0.86

billion yen

1.16

billion yen Other Current Assets

8,800 million yen

860 million yen

50 million yen

8,140 million yen

700 million yen

360 million yen

270 million yen

300 million yen

890 million yen (Units: billions of yen)

Assets

75.14

84.81

4. Consol i dated Bal anc e Sheet Sum m ar y – 1/ 2

Increased/Decreased Values Main Increase/Decrease Factors

Current Assets

(9)

51.94 53.79

6.20 7.69

16.99

23.31

0

2011/3 2012/3

Net Income

Dividends

Valuation difference on available-for-sale securities

Trade Accounts Payable

Other Accounts Payable

Current Portion of Long-Term Loans Payable

Allowance for Loss on Disaster

Long-Term Loans

Current Liabilities

Total Net Assets

6.32

billion yen

1.48

billion yen

1.85

billion yen Long-Term Liabilities

2.670 million yen

2,280 million yen

1,610 million yen

440 million yen

1,580 million yen

2,150 million yen

460 million yen

160 million yen

Liabilities / Net assets

75.14

84.81

(Units: billions of yen) Increased/Decreased Values Primary Reasons for Increase/Decrease

4. Consol i dated Bal anc e Sheet Sum m ar y – 2/ 2

(10)

6.75

△ 0 . 1 8

△ 1 . 2 1

△ 1 . 9 6

△ 1 . 6 1

2.60

25.79 26.24

△ 5. 00 0. 00 5. 00 10. 00 15. 00 20. 00 25. 00 30. 00

Cash Flow from Operating Activities Cash Flow from Investing Activities

Cash Flow from Financing Activities Year-End Cash & Cash Equivalents Balance

5. Consol i dated Cash Fl ow Statem ent Sum m ar y

2011/3 2012/3

7.5

4.5

69.3

42.1

(Units: billions of yen)

(11)

6. Capi tal Investm ents (Consol i dated)

2011/3 2012/3 2013/3

1.02 2.16

2.89

3.35 5.70

0.95 1.10

2.89 3.46

0. 0 1. 0 2. 0 3. 0 4. 0 5. 0

R&D Costs Capital Investment Deprecation Costs

FY 2011 Results

FY 2012 Plan

(Units: billions of yen)

Production-Related

Operations-Related

Information-Related

Others

2,890 million yen 1,910 million yen 690 million yen 210 million yen

Production-Related

Showroom Renovation

Commercial Real Estate

Information Investment

770 million yen 1,220 million yen 770 million yen 400 million yen

Major Capital Investment Details

(Forecast)

(12)

7. Outl i ne of Non-Consol i dated Resul ts for Per i od Ended Mar c h 2012

97,114

1,944

1,943

14

0.31 yen

2011/3

(Actual Results)

Net Sales Operating

Income Ordinary

Income Net Income Net Income

Per Share

99,464

1,406

1,362

2,033

43.65 yen

2.4

27.6

29.9

-

-

2012/3

(Actual Results)

Change From Prev. Period (Units: millions of yen)

(13)

8. Non-Consol i dated Sal es Com posi ti on By Segm ent

2011/3 2012/3 2013/3

71,230 13,222

4,664 1,4376,561

79,277 15,659

5,030630 6,204

73,061 14,391

4,6601,083 6,269

0 20,000 40,000 60,000 80,000 100,000 120,000

Kitchen Equipment Bathrooms Washstands Industrial Kitchen Equipment Other

2012/3

74.2% 14.7% 4.7

0.6 5.8

73.5 14.5

4.7

6.3 1.1

97,114

2011/3

73.3 13.6

4.8

6.8 1.5

99,464

106,800

(Units: millions of yen)

(Forecast)

Bathr ooms

Other

Washstands Industr i al Ki tchen

Equi pment

Ki tchen Equi pment

Bathr ooms

Other

Washstands Industr i al Ki tchen

Equi pment

Ki tchen Equi pment

(14)

9. Sal es Resul ts For Maj or Pr oduc ts and Cl eanup Mar ket Shar e - 1/ 4

82.1

72.5 70.8

64.4 66.2

69.7

75.2

211.5

186.5

173 166 181

195 207

0.0 20.0 40.0 60.0 80.0 100.0

07/3 08/3 09/3 10/3 11/3 12/3 13/3 0 100 200 300 400 Monetary Value

Volume

1,247 1,228

1,138

975 1,019

1091

17.9 17.1 17.8

15.2 15.2 17.0

0 200 400 600 800 1,000 1,200 1,400

07/3 08/3 09/3 10/3 11/3 12/3 0.0 5.0 10.0 15.0 20.0 25.0 30.0 Demand Volume

Cleanup Share

Complete System Kitchen Sales Results Demand Trends and Market Share

(Units: billions of yen) (Thousands of Sets) (Thousands of Sets) (%)

Forecast

(15)

6.1

5.5

5.0 4.8 5.1

3.4

4.1

58 52

67 61 60

65 75

0.0 2.0 4.0 6.0

07/3 08/3 09/3 10/3 11/3 12/3 13/3 0 30 60 90 120 Monetary Value

Volume

515

438

402 400

378

419

12.5 17.8

15.1 14.9 14.5 14.7

0 200 400 600

07/3 08/3 09/3 10/3 11/3 12/3 0.0 5.0 10.0 15.0 20.0 25.0 30.0 Demand Volume

Cleanup Share

Sectional System Kitchen Sales Results Demand Trends and Market Share

(Units: billions of yen) (Thousands of Sets) (Thousands of Sets) (%)

Forecast

9. Sal es Resul ts For Maj or Pr oduc ts and Cl eanup Mar ket Shar e - 2/ 4

(16)

14.8 14.9 14.5

12.7 12.9

14.1

15.4

32 30.5 30

27

30

35

38

0.0 5.0 10.0 15.0

07/3 08/3 09/3 10/3 11/3 12/3 13/3 0 10 20 30 40 50 Monetary Value

Volume

767

718 695

656 688

731

4.2 4.2 4.3 4.0 4.3

4.8

0 200 400 600 800 1,000

07/3 08/3 09/3 10/3 11/3 12/3 0.0 2.0 4.0 6.0 8.0 10.0 Demand Volume

Cleanup Share

Modular System Bathroom Sales Results Demand Trends and Market Share

(Thousands of Sets) (Thousands of Sets) (%) (Units: billions of yen)

Forecast

9. Sal es Resul ts For Maj or Pr oduc ts and Cl eanup Mar ket Shar e - 3/ 4

(17)

1,834

1,750

1,637

1,494 1,521

1609

6.4 6.2 6.1

5.2 5.6 5.3

0 400 800 1,200 1,600 2,000

07/3 08/3 09/3 10/3 11/3 12/3 0.0 2.0 4.0 6.0 8.0 10.0 Demand Volume

Cleanup Share

5.1 5.0

4.7 4.5 4.7 4.7

5.0

109 98 99

91 91 96 91

0.0 1.0 2.0 3.0 4.0 5.0 6.0

07/3 08/3 09/3 10/3 11/3 12/3 13/3 0 30 60 90 120 150 Monetary Value

Volume

Washstands/Vanities Demand Trends and Market Share

(Thousands of Sets) (Thousands of Sets) (%) (Units: billions of yen)

Forecast

9. Sal es Resul ts For Maj or Pr oduc ts and Cl eanup Mar ket Shar e - 4/ 4

(18)

101 104 107 109 109 105 105 102 102 102 471 480

450 448

480 495

460 456 451 444

0 40 80 120 160 200 240

04/3 05/3 06/3 07/3 08/3 09/3 10/3 11/3 12/3 13/3 0 100 200 300 400 500 600 Number of Showrooms

Number of Visitors

10. Showr oom s And Vi si tor Num ber s

(Locations) (Thousands of groups)

Forecast

(19)

11. For ec asted Consol i dated Resul ts For The Per i od Endi ng Mar c h 2013

Operating Income

Ordinary Income

Net Income

Net Sales

103,377

2,370

2,083

2,155

2012/3

(Actual Results)

111,000

2,400

2,100

900

2013/3

Forecast

7.4

1.2

0.8

58.3

Change From Prev. Period

Operating Income Margin

Ordinary Income Margin

Net Income Margin

2.3

2.0

2.1

2.2

1.9

0.8

-

-

-

(Units: millions of yen)

(20)

Ⅱ. Resul ts fr om thi s ter m and

the outl ook fr om now on

(21)

1. Managem ent Pol i c i es and Resul ts for the Per i od Ended Mar c h 2012

To become the kitchen company through strengthening and

enhancement of management

Expand sales and market share through differentiated products, focused on the new CLEANLADY

Reform organizational structures to further enhance our strengths

Improve awareness, based on our corporate philosophy

Basic Management Policy

In the first half of the year, we completed recovery from the earthquake

In the latter half of the year, we focused on business based around

the new CLEANLADY

・ Due to the expansion in sales in the latter half of the year, we have recovered to

record an increase in revenue for the year

・ We have increased our market share in system kitchens and system bathrooms

(22)

2. Revi ew of the Pr oduc ti on System

Production was focused on the “7 factories” in the Iwaki Business Office

【 In the past

Based on our experience with the earthquake,

we have improved our centralized production system

We built a balanced system with production centers in

both eastern and western Japan by making it possible

to completely produce system kitchens in the Okayama

factory alone

Iwaki Business Office

(7 factories)

Okayama Factory

(23)

3. Managem ent Envi r onm ent

67,12068,198 69,298

64,951

56,527

65,00866,568

59,911

68,688 68,785

71,921 71,998 71,390 72,838 74,517

66,709

62,252 63,419 66,757

63,726 72,687

83,398 81,986

64,206 67,273

72,635 69,069

65,984

(27.1) (19.1)

(15.7) (8.1)

(9.3) (2.4)

0.6

17.7

6.4 6.8 7.5

2.7 10.1

2.4 0.3

6.4 5.8 21.2

14.0

(10.8) (5.8)

(0.3)

(7.3) (1.1) 4.3

20.4

0.6

(4.6)

0 20,000 40,000 60,000 80,000 100,000

Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. (40.0) (20.0) 0.0 20.0 40.0 60.0

New housing starts (units) YOY comparison (%)

New housing starts

(%)

In the 15 months to August 2011, we achieved better results when compared to the same month of the previous year

From September onwards we transitioned to a level below that of the same month of the previous year

2009 2010 2011

Large scale industry reorganization proceeded against a backdrop of related regulatory reform and stagnation of the market

2012 (Units)

(24)

4. System Ki tc hen Mar ket Shar e by Cl ass

15.9 14.3 16.5 19.1

20.6

13.9

25.3

13.1 15.5

14.7

16.0

14.0

15.1 16.3

9.3 9.7

11.7

14.5

4.0 8.0 12.0 16.0 20.0 24.0 28.0

2 0 0 8 / 3 2 0 0 9 / 3 2 0 1 0 / 3 2 0 1 1 / 3 2 0 1 1 / 9 2 0 1 2 / 3

Luxury

Mid-Level

Entry-Level

(%)

We expanded our shar e i n mi d-l evel and entr y l evel ki tc hens

Changes in System Kitchen Market Share

Other shares (special orders) FY 2008 27.3%

FY 2009 27.7% FY 2010 33.6% FY 2011 31.5%

FY 2011Current Interim Period 24.6% FY 2012 28.4%

(25)

5. Soc i al Eval uati on of the New CLEANLADY

All About Kitchen of the Year 2011 Grand Prize

Simple and elegant kitchen design creates a positive impression, and the functionality of the density of drawers, such as floor containers, has been improved

Cabinets built from the new stainless steel “NSSCR FW1”, with limited use of rare metals such as chrome and nickel, nearly eliminate the need for bonding agents and have halved the weight, with a weight reduction of 50%. Not only are they recyclable, but they also utilize ground-breaking technology which reduces the burden on the environment during transport

The significance of providing an indication of the direction of future kitchen design is worthy of the grand prize

● Stainless steel cabinets, which have been limited to the luxury price range until now, have been introduced in the intermediate price range, expanding the volume zone of the market

● In addition to reducing the use of resources and lightening transport loads in order to protect the environment, we have also improved recyclability which is only possible with stainless steel

CLEANLADY

Merit Award in the 14

th

Japan Stainless Steel Association Prize

(26)

6 . Basi c Managem ent Pol i cy (Fr om the New Mi d-Ter m Managem ent Pl an)

Sal es

c apabi l i ti es

Br and

power

Thoroughly promote the 12 mid-term plans to become

the kitchen company

Technological development of differentiated products

Strengthening the brand Improved overall showroom

competitiveness for comprehensive renovation plans

Pr oduct

appeal

Over seas

busi ness

c apabi l i ti es

Development in Asia

Real i zati on of “The Ki tc hen Com pany”

(27)

The Craftsmanship of a Specialist Manufacturer

High-Value-Added Products

Luxury System Kitchen

“S.S.”

“S.S. Light Package

Mid/High-Quality System Kitchen

“CLEANLADY”

Popular System Kitchen

“RAKUERA

Company System Kitchen

“COLTY

The system bath model has been changed to AQULIA-BATH

High Price

Widespread Products

Low Price

Highly functional, stylish, product designed for urban life with limited space.

A branded product allowing consumers to experience Cleanup’s high-quality.

Products aimed at customers who want both financial savings and added value.

Our standard brand as “The Kitchen Company” A model allowing consumers to

experience the beauty of stainless at a reasonable price.

Renewal results for FY2011

“CLEANLADY”

(Fully upgraded model)

7. Measur es to Enhanc e Pr oduc t Appeal (1) Pr oduc t Li neup

(28)

7. Measur es to Enhanc e Pr oduc t Appeal (2)

▲Cleanliness has been improved with the “Clean Hair Catcher”

Design has been improved by using “Aqulistone Quartz”

Improved cleanliness and design

The first model change in 5 years

Highly demanded cleanliness and design have been improved in addition to the industry-best heat retention and safety

Cleanliness

Cleanliness has been improved by using the new joint filler

“Clean Gasket”, which prevents mold from taking root, and including the low maintenance, stainless steel “Clean Hair Catcher” in the plugholes as standard.

Design

Cleanup’s unique dense yet translucent artificial marble,

“Aqulistone Quartz”, has been introduced in bath tubs and countertops (8 colour variations to choose from).

AQULIA-BATH

Orders accepted from March 1, 2012

The model has been changed for the AQULIA-BATH

(29)

8. Measur es to Enhanc e Sal es Capabi l i ti es Com pr ehensi ve Renovati on Pl ans

● Expand “Water Section Workshops” member

stores to 2,500 store system

As of March 31, 2012

● Renovation fairs

Held last year 2,183 Planned this year 2,800

Strengthen renovation strategy

Strengthen logistics cooperation

Improve overall showroom competiveness

● Showroom construction that makes use of the strengths of a specialist

manufacturer (Osaka showroom’s large-scale move/opening etc.)

Improved showroom advisors

● Implement renovation seminars for sub-customers in cooperation with

strong local firms

● Implement renovation fairs with strong firms/sub-customers as sponsors

(30)

Community courses held

every year from 2009

The Cooking Academy

“Web Campus” has been

opened

(Anyone can attend just by clicking)

◎ Cooking Academy to Create Smiles from the Kitchen

26 participants were selected by lottery out of over 200 people who expressed interest

With the help of Seitoku University, classes began at Seitoku University Open Academy starting on October 7

(and will continue once a month until March 16, 2012 for 6 total classes)

Classes include food-related lectures and hands-on practice from a variety of different angles such as local cuisine, aesthetics, science, health, safety, and dietary education.

The content from past courses has been uploaded to the home page as the “Web Campus”

The first two entries “ The Role of Food” and “The Science of Food” have already been uploaded The third entry onwards will be uploaded in due course

9. Measur es to Enhanc e Br and Power (1) Cooki ng Ac adem y

(31)

9. Measur es to Enhanc e Br and Power (2) Ec o-Pr oduc ts Di spl ay

◎ Display in the biggest environmental exhibition in Japan,

“Eco-Products 2011”.

Appealed to 180,000 visitors with the Cleanup brand

message, “create smiles from the kitchen”, and the high

environmental performance of the new CLEANLADY.

(32)

10. Over seas Busi ness Capabi l i ti es

China

In cooperation with a house

manufacturer, we produced and

supplied kitchens locally in

Shenyang, Liaoning

Vietnam

Opened a new local showroom

in conjunction with our agent

Taiwan

Opened a local office to

support our existing agent

Okayama Tokyo Iwaki

Hanoi

Hong Kong

Taipei Shenyang

Beijing

Shanghai

(33)

11. Medi um -ter m Str ategy (1) Pr oduc t Devel opm ent fr om the Custom er ’s Poi nt of Vi ew

Reflected in the CLEANLADY etc. which features a “stainless steel eco-cabinet” as standard.

Aiming to create “products you can trust”…

Cleanup will continue to provide high-quality products, regardless of the

times, and always with an emphasis on the consumer’s point of view.

Cl eanup’s Pr oduc t Cr eati on

Pr oduc ts You Can Tr ust”

CSR

Envi r onm ental Com pl i anc e

The Foundati on of Pr oduct Cr eati on

CPS (Cleanup Production System), based on Cleanup’s unique quality management beliefs

Compl i ance wi th Laws/ Systems

●Housing Function Display System (Quality Assurance Law)

Effective Resource Use Promotion Law

Long-Term Quality Housing Promulgation and Promotion Law, etc.

3R Effor ts

Reduce

(Reduce creation of waste products)

Reuse (Reuse waste products)

Recycle (Reuse as raw materials)

(34)

Founder ’s Phi l osophy

(Fi ve Conc epts)

Cor por ate Phi l osophy

(c r eati ng c heer ful sm i l es i n the fam i l y)

Acti ve Phi l osophy

1. We wi l l cr eate a ‘soul ful ’ cul tur e of l i fest yl e and cui si ne.

2. We wi l l al ways conduct fai r and honest cor por ate acti vi ti es.

3. We wi l l cr eate a company our fami l i es can take pr i de i n.

New Br and Statem ent

To cr eate smi l es fr om the ki tchen

For our busi ness to be the ‘Top l eader i n ki tchens.’

To establ i sh a r eputati on among our customer s ‘synonymous wi th ki tchens.’

Acti on Pol i cy

11. Medi um -ter m Str ategy (2) Pur sui t of “New Managem ent Phi l osophy”

On 65

th

anniversary of our inauguration, creating a foundation

suitable for a “second inauguration”

Aiming for a business that

develops globally, while

valuing individuals, families,

and communities, based on

our experience with the

earthquake

(35)

Cleanup Corporation

Corporate Planning Department,

Public Relations Section

Tel 03-3810-8241

Fax 03-3800-2261

URL http://cleanup.jp/

For any questions concerning investor relations,

please contact:

(36)

This material is intended to provide information regarding FY2011 financial results (April 2011 - March 2012) and does not constitute a solicitation to invest in Cleanup Corporation-issued securities.

Furthermore, this material was created based upon data current as of May 16, 2012. Opinions and forecasts contained within this material were the subjective judgments of Cleanup Corporation at the time of creation. No guarantee or promise is made as to the accuracy or

completeness of this information. Additionally, this information is subject to change without prior notice.

Disclaimer

参照

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Selberg; Local Well-posedness below the Charge Norm for the Dirac-Klein-Gordon system in two space dimensions, Journal of Hyperbolic Differntial Equations (2007), no.. Bachelot;

The main discrepancies are that we require our groupoids to exhibit a nice topology (locally compact, Hausdorff) and to be endowed with a continuous Haar system, whereas

We derive the macroscopic mathematical models for seismic wave propagation through these two different media as a homog- enization of the exact mathematical model at the