Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Consolidated Financial Results
for the Six Months Ended September 30, 2021
(under Japanese GAAP)
November 5, 2021
Company name: | Sanyo Chemical Industries, Ltd. |
Listing: | Tokyo Stock Exchange |
Securities code: | 4471 |
URL: | https://www.sanyo-chemical.co.jp/ |
Representative: | Akinori Higuchi, President & CEO |
Inquiries: | Masaya Yamamoto, Director & Managing Executive Officer, General Manager of |
Administrative Affairs Division | |
TEL: | +81-75-541-4312 |
Scheduled date to file quarterly securities report: | November 11, 2021 |
Scheduled date to commence dividend payments: | December 1, 2021 |
Preparation of supplementary material on quarterly financial results: | Yes |
Holding of quarterly financial results presentation meeting: | Yes (for analysts) |
(Figures are rounded down to the nearest million yen)
1. Consolidated financial results for the first six months of the fiscal year ending March 31, 2022 (from April 1, 2021 to September 30, 2021)
(1) Consolidated operating results (cumulative) | (% indicates year-on-year changes) | ||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||||
owners of parent | |||||||||||||||
Six months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||
September 30, 2021 | 77,519 | 17.6 | 5,918 | 28.7 | 6,861 | 56.9 | 4,418 | 89.6 | |||||||
September 30, 2020 | 65,933 | (15.4) | 4,599 | (22.1) | 4,374 | (25.8) | 2,330 | (38.6) | |||||||
Note: | Comprehensive income: Six months ended September 30, 2021 | ¥4,240 million [(7.0)%] | |||||||||||||
Six months ended September 30, 2020 | ¥4,560 million [160.5%] | ||||||||||||||
Basic earnings per share | Diluted earnings per | ||||||||||||||
share | |||||||||||||||
Six months ended | Yen | Yen | |||||||||||||
September 30, 2021 | 200.37 | - | |||||||||||||
September 30, 2020 | 105.70 | - | |||||||||||||
(2) Consolidated financial position | |||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | ||||||||||||
As of | Millions of yen | Millions of yen | % | Yen | |||||||||||
September 30, 2021 | 197,684 | 145,269 | 72.3 | 6,475.88 | |||||||||||
March 31, 2021 | 195,723 | 142,951 | 71.8 | 6,371.77 | |||||||||||
Reference: | Equity: | As of September 30, 2021 | ¥142,856 million | ||||||||||||
As of March 31, 2021 | ¥140,474 million |
2. Cash dividends
Cash dividends per share | |||||
1Q (as of June 30) | 2Q (as of Sept. 30) | 3Q (as of Dec. 31) | 4Q (as of Mar. 31) | Total | |
Yen | Yen | Yen | Yen | Yen | |
Fiscal year ended | - | 70.00 | - | 80.00 | 150.00 |
March 31, 2021 | |||||
Fiscal year ending | - | 85.00 | |||
March 31, 2022 | |||||
Fiscal year ending | - | 85.00 | 170.00 | ||
March 31, 2022 | |||||
(Forecast) | |||||
Note: Revisions of the latest forecasts for cash dividends announced: None
3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
(% indicates year-on-year changes) | ||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic | ||||||
earnings | ||||||||||
owners of parent | ||||||||||
per share | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
Fiscal year ending | 170,000 | 17.4 | 13,500 | 13.1 | 13,500 | 12.5 | 9,000 | 23.6 | 408.07 | |
March 31, 2022 | ||||||||||
Note: Revisions of the latest forecasts for earnings announced: None |
* Notes
- Significant changes in subsidiaries during the six months ended September 30, 2021 (changes in specific subsidiaries resulting in the change in scope of consolidation): None
-
Application of special accounting methods for the preparation of quarterly consolidated financial statements: Yes
Note: See page 10, "2. Quarterly consolidated financial statements and significant notes thereto, (4) Notes to quarterly consolidated financial statements, Application of special accounting methods for the preparation of quarterly consolidated financial statements" for more information. - Changes in accounting policies, accounting estimates, and restatements
a. | Changes in accounting policies associated with revised accounting standards, etc.: | Yes |
b. | Changes in accounting policies other than a. above: | None |
c. | Changes in accounting estimates: | None |
d. | Restatements: | None |
Note: See page 10, "2. Quarterly consolidated financial statements and significant notes thereto, (4) Notes to quarterly consolidated financial statements, Changes in accounting policies" for more information.
(4) Number of shares issued (common stock)
a. Number of shares issued at the end of the period (including treasury shares)
As of September 30, 2021 | 23,534,752 shares |
As of March 31, 2021 | 23,534,752 shares |
b. Number of treasury shares at the end of the period
As of September 30, 2021 | 1,474,917 shares |
As of March 31, 2021 | 1,488,441 shares |
- Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
For the six months ended September 30, 2021 | 22,050,706 shares |
For the six months ended September 30, 2020 | 22,045,230 shares |
Note: Shares of Sanyo Chemical Industries, Ltd. (the "Company") owned by the trust whose beneficiaries are directors, etc. of the Company are included in the treasury shares that are excluded in calculating the number of treasury shares at the end of the period and the average number of shares outstanding during the period.
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
-
Appropriate use of earnings forecasts and other special items
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual earnings may differ significantly due to various factors. See page 4, "1. Qualitative information regarding financial results for the six months ended September 30, 2021, (3) Information concerning future forecast such as consolidated earnings forecasts" for more information regarding the circumstances behind the assumptions used in earnings forecasts and matters to be noted when relying on earnings forecasts.
Attached Material Index | ||
1. Qualitative information regarding financial results for the six months ended September 30, 2021 | ..... 2 | |
(1) | Information regarding operating results...................................................................................................... | 2 |
(2) | Analysis of financial position ..................................................................................................................... | 4 |
(3) | Information concerning future forecast such as consolidated earnings forecasts ....................................... | 4 |
2. Quarterly consolidated financial statements and significant notes thereto ............................................. | 5 | |
(1) | Consolidated balance sheets ....................................................................................................................... | 5 |
(2) | Consolidated statements of income and consolidated statements of comprehensive income..................... | 7 |
Consolidated statements of income (cumulative) ....................................................................................... | 7 | |
Consolidated statements of comprehensive income (cumulative) .............................................................. | 8 | |
(3) | Consolidated statements of cash flows ....................................................................................................... | 9 |
(4) | Notes to quarterly consolidated financial statements................................................................................ | 10 |
Notes to going concern assumptions ........................................................................................................ | 10 | |
Notes on significant changes in the amount of shareholders' equity........................................................ | 10 | |
Application of special accounting methods for the preparation of quarterly consolidated financial | ||
statements ................................................................................................................................................. | 10 | |
Changes in accounting policies................................................................................................................. | 10 | |
Segment information ................................................................................................................................ | 11 | |
3. Supplementary information....................................................................................................................... | 13 |
- 1 -
1. Qualitative information regarding financial results for the six months ended September 30, 2021
-
Information regarding operating results
During the first six months (April 1, 2021 to September 30, 2021) of the fiscal year ending March 31, 2022 in the Japanese economy, amid continued restrictions on economic activities due to the impact of COVID-19, private consumption fluctuated, and challenging conditions continued amid factors such as the prolonged stagnation in inbound demand, despite a continued trend of increasing exports. In the global economy, although there are signs that the expansion of the Chinese economy has plateaued, in the US and Europe, the easing of restrictions on economic activities with progress in the dissemination of vaccinations led the economy to a track of recovery.
In the chemical industry, the forex market is fluctuating based on conflicting speculation over when the US will begin to reduce easing in its monetary policy, and raw material costs are rising due to higher oil prices and the recovery in demand. Amid these conditions, the business environment remains unpredictable.
Under these circumstances, net sales for the period under review increased by 17.6% year on year, to ¥77,519 million. In terms of profit, operating profit was ¥5,918 million (an increase of 28.7% year on year) mainly due to an increase in net sales, and ordinary profit was ¥6,861 million (an increase of 56.9% year on year) mainly due to an increase in share of profit of entities accounted for using equity method. Profit attributable to owners of parent was ¥4,418 million (an increase of 89.6% year on year).
- Business performance
(Millions of yen) | |||||||
Six months | Six months | ||||||
ended | ended | Change | FY2020 | ||||
September 30, | September 30, | ||||||
2020 | 2021 | ||||||
(Amount) | (Change) | ||||||
Net sales | 65,933 | 77,519 | 11,585 | 17.6% | 144,757 | ||
Operating profit | 4,599 | 5,918 | 1,319 | 28.7% | 11,932 | ||
Ordinary profit | 4,374 | 6,861 | 2,487 | 56.9% | 11,999 | ||
Profit attributable to owners | 2,330 | 4,418 | 2,088 | 89.6% | 7,282 | ||
of parent | |||||||
Basic earnings per share | ¥105.70 | ¥200.37 | ¥94.67 | 89.6% | ¥330.34 | ||
ROA (Return on assets*) | 4.9% | 7.0% | - | 2.1 percentage | 6.4% | ||
point | |||||||
ROE (Return on equity) | 3.6% | 6.2% | - | 2.6 percentage | 5.4% | ||
point | |||||||
Currency exchange (US$, | US$=¥106.93 | US$=¥109.82 | ¥2.89 | US$=¥106.11 | |||
CNY) | CNY=¥15.26 | CNY=¥16.99 | ¥1.73 | CNY=¥15.68 | |||
Naphtha price in Japan | ¥27,600/kl | ¥50,600/kl | ¥23,000/kl | ¥31,400/kl |
*ROA (Return on assets) is calculated based on ordinary profit.
Note: ROA and ROE for the six months ended September 30, 2020 and 2021 are annualized.
- 2 -
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Sanyo Chemical Industries Ltd. published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 00:39:07 UTC.