UACJ Corporation
Financial Results Briefing for the Fiscal Year Ended March 2023
May 11, 2023
Event Summary
[Company Name] | UACJ Corporation | |
[Company ID] | 5741-QCODE | |
[Event Language] | JPN | |
[Event Type] | Earnings Announcement | |
[Event Name] | Financial Results Briefing for the Fiscal Year Ended March 2023 | |
[Fiscal Period] | FY2023 Annual | |
[Date] | May 11, 2023 | |
[Number of Pages] | 38 | |
[Time] | 15:30 - 16:32 | |
(Total: 62 minutes, Presentation: 33 minutes, Q&A: 29 minutes) | ||
[Venue] | Webcast | |
[Venue Size] | ||
[Participants] | ||
[Number of Speakers] | 6 | |
Miyuki Ishihara | Representative Director, President | |
Teruo Kawashima | Director, Executive Vice President | |
Shinji Tanaka | Director, Managing Executive Officer | |
Joji Kumamoto | Executive Officer, Chief Executive, Corporate | |
Strategy Division | ||
Haruhiro Iida | Executive Officer, Chief Executive, Finance | |
and Accounting Division | ||
Kaoru Ueda | General Manager, IR, Finance Department | |
[Analyst Names]* | Atsushi Yamaguchi | SMBC Nikko Securities Inc. |
Harunobu Goroh | UBS Securities Japan Co., Ltd. | |
Yu Shirakawa | Morgan Stanley MUFG Securities Co., Ltd. | |
Yuji Matsumoto | Nomura Securities Co., Ltd. | |
Shinichiro Ozaki | Daiwa Securities Co. Ltd. |
Support | |||
Japan | 050.5212.7790 | North America | 1.800.674.8375 |
Tollfree | 0120.966.744 | Email Support | support@scriptsasia.com |
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*Analysts that SCRIPTS Asia was able to identify from the audio who spoke during Q&A.
Support | |||
Japan | 050.5212.7790 | North America | 1.800.674.8375 |
Tollfree | 0120.966.744 | Email Support | support@scriptsasia.com |
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Presentation
Ueda: All participants, thank you very much for waiting. Thank you very much for taking time out of your busy schedule to participate in the financial results briefing for FY2022 of UACJ Corporation today. This briefing will be conducted using the briefing materials available on the UACJ Corporation website. If you do not have the materials at hand, please visit our website.
This presentation may contain forward-looking statements, and such statements are based on our current expectations only. Please note that actual results may differ materially from these future projections due to a variety of factors.
We would like to ask for your cooperation in starting the conference. In order to facilitate the question-and- answer session, please change your display name on Zoom to a combination of your company name and your name.
Now, I would like to introduce today's speakers from the Company. Miyuki Ishihara, Representative Director, President.
Ishihara: This is Ishihara. Thank you for joining us today.
Ueda: Teruo Kawashima, Director, Executive Vice President.
Kawashima: Hello, this is Kawashima. Thank you for joining us today.
Ueda: Shinji Tanaka, Director, Managing Executive Officer.
Tanaka: I am Tanaka. Thank you.
Ueda: Joji Kumamoto, Executive Officer, Chief Executive, Corporate Strategy Division.
Kumamoto [A]: This is Kumamoto. Thank you.
Ueda: Haruhiro Iida, Executive Officer, Chief Executive, Finance and Accounting Division.
Iida: I am Iida. Thank you.
Ueda: I am Kaoru Ueda, General Manager, IR, Finance Department, who will serve as the moderator today. Thank you.
President Ishihara will now present financial results for the FY2022 and the full-year forecast for FY2023 announced today. Please join us while viewing the presentation materials.
President Ishihara, please go ahead.
Ishihara: I will now explain based on the financial results presentation materials.
Support | |||
Japan | 050.5212.7790 | North America | 1.800.674.8375 |
Tollfree | 0120.966.744 | Email Support | support@scriptsasia.com |
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We will begin with the key points of the presentation on page one, as you can see from the page number at the right bottom.
In FY2022, sales increased from the previous year, while ordinary income before inventory effects, which is the actual profit, decreased. In FY2023, we expect improvement due to the effects of energy surcharges and recovery in automobile-related demand.
In FY2022, earnings decreased from the previous year, mainly due to the significant impact of automobile production in all of our businesses, including flat-rolled products and extrusion. As for the domestic business, the automotive-related business has been affected by the market impact to a large extent. Among them, sales of general-purpose materials increased in terms of volume due to strong sales of air conditioner fin materials.
Overseas, both TAA in North America and UATH in Thailand increased profits due to strong global demand for can stock. I will discuss the effects of the structural reforms we undertook up to FY2022 in more detail later, but I believe that as a result, we have become more resilient, able to respond quickly to changes in the external environment.
Looking at our full-year business outlook for FY2023, we expect domestic automobile production volume to recover from H2 of FY2023. The disruption in the production of automobile in North America is expected to be resolved, and the production of UWH (UACJ Automotive Whitehall Industries, Inc.) in North America is also expected to return to profitability during the year.
We have achieved our price scheme linked to the energy and additive metals markets globally as planned, and for FY2023, we expect the effects of this scheme to be manifested throughout the year. There will be new additional costs for electricity and other expenses, but we will continue to consider this matter.
Support | |||
Japan | 050.5212.7790 | North America | 1.800.674.8375 |
Tollfree | 0120.966.744 | Email Support | support@scriptsasia.com |
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Disclaimer
UACJ Corp. published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2023 07:49:03 UTC.