Chori : FY2022 Financial Results Materials(Highlights) (855 KB)

Translation ― Original text in Japanese

FY2022 (April 1, 2022 to March 31, 2023)

Financial Results Materials

(Highlights)

April 28, 2023

Forecasts of operational performance, as well as future predictions described in this document, were prepared based on information available as of the day on which this document was released. This document in no way guarantees the condition and operational performance of the company in the future.

FY2022 Financial Results Summary

Key Points of the Summary

POINT Final year of the Medium-Term Management Plan "Chori Innovation Plan 2022 (CIP2022)"

•

•

•

Achieved all of CIP2022 financial targets (Net Sales, Ordinary Profit, ROA, ROE). Reached a new stage to "consistently deliver ordinary income at the ¥10.0 billion level," for the second consecutive fiscal year.

Ordinary profit and net profit attributable to owners of parent hit new record highs following the previous fiscal year.

Business

results summary

• Increased sales YoY with significant increase in each profit
• Increased sales across all segments. Both the Fibers, Textiles and Garments business and the Chemicals business were strong.

Net Sales	¥329.4 billion	(CIP2022 target	¥280.0 billion)
Ordinary Profit	¥12.4 billion	(CIP2022 target	¥11.0 billion)
ROA (ordinary profit basis)	9.0%	(CIP2022 target	8% or more)
ROE (net profit basis)	11.8%	(CIP2022 target)	11% or more)

Financial

base

Shareholder

returns

Topics

• Equity-to-assetratio: 50.4% Maintained at a high level
• The year-end dividend is as announced on January 27, 2023.

Year-end dividend of ¥55 per share, annual dividend of ¥105 per share (dividend payout ratio of 32%)

• Disclosed the new medium-term management plan "Chori Innovation Plan 2025 (CIP2025)."
  Period: FY2023 - FY2025 (three-year plan)

CHORI CO., LTD.

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FY2022 Financial Results Summary

Business Results Breakdown (YoY Comparison)

POINT

• The business environment of the global and Japanese economy remains uncertain. Saw a slowdown in FY2022 4Q, mainly in the overseas business.
• Increased sales YoY with significant increase in profit in both the Fibers, Textiles and Garments business and the Chemicals business. However, a provision of allowance for doubtful accounts of ¥1.7 billion was recorded additionally in the Machinery business.

Unit: billions of yen	FY2021	FY2022		Difference	Ratio
Net sales		284.1	329.4	+45.3	+15.9%
Gross profit		30.7	37.1	+6.4	+20.9%
Selling, general and administrative expenses		21.3	24.4	+3.1	+14.4%
Operating profit		9.3	12.7	+3.3	+35.7%
Ordinary profit		10.3	12.4	+2.2	+21.1%
Net profit attributable to owners of parent		6.8	8.1	+1.3	+19.3%

CHORI CO., LTD.

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FY2022 Financial Results Summary

Reasons for Changes in Ordinary Profit		Unit: billions of yen
+1.6		-3.1
+4.9								-1.2
					Increased
					profit ratio	Increase in selling,		Non-
							general and
			Effect of		administrative		operating
			increased			expenses	profit or loss
			sales						and others
	10.3

Record high

12.4

FY2021

FY2022

Trends in Business Performance

Unit: billions of yen

		FY2021					FY2022
1Q	2Q	3Q	4Q	Full-year total	1Q	2Q	3Q	4Q	Full-year total

Net sales	60.7	69.4	75.8	78.3	284.1	81.9	86.6	86.9	74.0	329.4
Operating income	2.6	2.3	2.6	2.0	9.3	3.2	3.6	4.2	1.7	12.7
Ordinary income	2.9	2.4	2.9	2.1	10.3	3.7	3.7	3.6	1.4	12.4
Net income attributable to owners of	2.3	1.7	1.9	1.0	6.8	2.3	2.5	2.8	0.6	8.1
parent

CHORI CO., LTD.

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FY2022 Financial Results Summary

Segment Results Unit: billions of yen

Net sales

■ Fibers, Textiles and Garments

■ Chemicals ■ Machinery ■ Others

				144.8
115.5
164.2	180.0	4.4
4.3
0.1		0.1
			FY2021	FY2022
	Ordinary profit (loss)
■ Fibers, Textiles and Garments
■ Chemicals ■ Machinery ■ Others	5.1
3.0
7.4	8.8
				-0.2
-0.1	-1.3
			FY2021 -0.0	FY2022

Unit: billions of yen	FY2021	FY2022	Difference
Fibers, Textiles	115.5		144.8	+29.3
and Garments
Chemicals	164.2		180.0	+15.9
Machinery (*)	4.3		4.4	+0.1
Others	0.1		0.1	+0.0
Total	284.1		329.4	+45.3
*(Reference) Trading amount handled: FY2021	¥40.0 billion,
		FY2022	¥50.1 billion
Unit: billions of yen	FY2021	FY2022	Difference
Fibers, Textiles	3.0		5.1	+2.1
and Garments
Chemicals	7.4		8.8	+1.4
Machinery	-0.0		-1.3	-1.2
Others (*)	-0.1		-0.2	-0.1
Total	10.3		12.4	+2.2

* Adjusted amounts for "Others" are included.

Fibers, Textiles and Garments		Chemicals
Increased sales and profit		Increased sales and profit

Machinery

Increased sales and decreased profit

Recovering	Domestic apparel-related	Steady	Overall
			Performance chemicals,
Expanded	Sustainable products	Strong
transactions	Fine chemicals,

Inorganic fine materials

Increased sales

Loss

Vehicles for Europe and

Central America

Additional recording of allowance for doubtful accounts

CHORI CO., LTD.		4