Chori : Feb. 3, 2023 FY2022 3Q Financial Results Materials(Highlights) (870 KB)

Translation ― Original text in Japanese

FY2022 3Q (April 1, 2022 to December 31, 2022)

Financial Results Materials

(Highlights)

January 27, 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 3Q Financial Results Summary

Key Points of the Summary

POINT

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

・Steady progress to our new stage, "consistently deliver ordinary profit at the ¥10.0 billion level."

Business

results summary

Financial

base

Topics

• Increased sales and profit YoY significantly
  ・Ordinary profit in FY2022 3Q was ¥11.0 billion and net profit attributable to owners of parent was ¥7.5 billion, hitting new record highs.
  ・Increased sales across all segments. Both the Fibers, Textiles and Garments segment and the Chemicals segment were strong.
• Equity-to-assetratio: 47.5% Maintained at a high level
• The full-year consolidated business results forecast (P. 7) and the fiscal year-end dividend forecast (P. 8) were revised upward.
  Cf. Dividend forecast: Annual ¥100 per share ⇒ ¥105 per share

(Fiscal year-end ¥50 per share → ¥55 per share)

• Company-widebusiness transformation project (Chori's new mission-critical system implementation project planned to be launched in October 2024, called CARAT) is ongoing.
• The next medium-term management plan is under consideration.

CHORI CO., LTD.

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FY2022 3Q Financial Results Summary

Business Results Breakdown (YoY Comparison)

POINT

• Both the Fibers, Textiles and Garments business and the Chemicals business were strong. Increased sales and each profit YoY significantly.
• The business environment of the global and Japanese economy are still uncertain.

Unit: billions of yen	FY2021	FY2022	Difference	Ratio
Apr.-Dec.	Apr.-Dec.
Net sales	205.8	255.4	+49.5	+24.1%
Gross profit	22.3	28.5	+6.3	+28.1%
Selling, general and administrative expenses	14.9	17.6	+2.7	+18.2%
Operating profit	7.4	10.9	+3.5	+48.1%
Ordinary profit	8.2	11.0	+2.9	+35.0%
Net profit attributable to owners of parent	5.9	7.5	+1.7	+29.0%

CHORI CO., LTD.

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FY2022 3Q Financial Results Summary

Reasons for Changes in Ordinary Profit

+0.9

+5.4

Increased profit ratio

Unit: billions of yen

-2.7

-0.8

Record high

for 3Q

Increase in selling,

general and	Non-
administrative
operating
expenses
profit or loss
	and others
Effect of
increased
sales
	11.0
8.2

FY2021 Apr.-Dec.

FY2022 Apr.-Dec.

CHORI CO., LTD.

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FY2022 3Q Financial Results Summary

Segment Results Unit: billions of yen

Net sales

■ Fibers, Textiles and Garments

■ Chemicals ■ Machinery ■ Others

			110.9
81.6
120.8	140.7	3.7
			3.4
			0.1	0.1
		FY2021	FY2022
	Ordinary profit Apr.-Dec.	Apr.-Dec.
■ Fibers, Textiles and Garments
■ Chemicals ■ Machinery ■ Others	3.9
2.3
5.1	7.2
0.7	0.2
			0.0
			0.0
		FY2021	FY2022
		Apr.-Dec.	Apr.-Dec.

Unit: billions of yen	FY2021	FY2022	Difference
Apr.-Dec.	Apr.-Dec.
Fibers, Textiles	81.6	110.9	+29.3
and Garments
Chemicals	120.8	140.7	+19.9
Machinery (*)	3.4	3.7	+0.3
Others	0.1	0.1	+0.0
Total	205.8	255.4	+49.5
*(Reference) Trading amount handled: FY2021 3Q ¥30.6 billion,
		FY2022 3Q ¥41.2 billion
Unit: billions of yen	FY2021	FY2022	Difference
Apr.-Dec.	Apr.-Dec.
Fibers, Textiles	2.3	3.7	+1.3
and Garments
Chemicals	5.1	7.2	+2.1
Machinery	0.7	0.2	-0.5
Others (*)	0.0	0.0	-0.0
Total	8.2	11.0	+2.9

* 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
Strong	Sustainable products	Strong	Fine chemicals
			Inorganic fine materials

Increased sales

Loss

Vehicles for Europe and

Central America

Additional recording of allowance for doubtful accounts

CHORI CO., LTD.

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