Financial Results for the Fiscal Year

Ending March 31, 2023(FY03/23)

May 18, 2023

Chugoku Marine Paints, Ltd.

(TSE Code: 4617)

Company mascot, "Pentaro"

Outline

１. Consolidated Earnings Summary

２. Summary by Product and Region

３. Medium-Term Management Plan: Progress in FY03/23

４. FY03/24 Forecast and Key Business Topics

５. Reference Material

Note: Figures presented in tables and graphs are expressed in millions of yen unless otherwise indicated.

Page

3-10

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20-26

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33-44

Copyright © Chugoku Marine Paints, Ltd. All Rights Reserved.

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1-1

1. Consolidated Earnings Summary

Copyright © Chugoku Marine Paints, Ltd. All Rights Reserved.

3

Full-year earnings highlights

  • Consolidated net sales grew, driven by strong sales of marine coatings.

Selling price revisions commensurate with higher raw material prices also contributed, along with exchange rate changes.

  • Operating profit grew sharply as higher selling prices covered the rise in various procurement costs.

Net sales

Up 18.0% YoY

99,481

84,295

Gross

margin

24.9%

23.3%

FY03/22FY03/23

Copyright © Chugoku Marine Paints, Ltd. All Rights Reserved.

Operating profit

Up 465.1％ YoY

3,887

682

FY03/22FY03/23

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Consolidated income statement

Gross margin rose 1.6pp YoY, as selling price revisions and improved product mix offset the surge in raw material procurement costs.

Total SG&A expenses rose due to higher transportation costs and forex impact, but the SG&A ratio fell. Operating profit margin improved 3.1pp, recovering to 3.9%.

The Company posted a gain on the sale of investment securities of 1,145 million yen resulting from the sale of strategic shareholdings as extraordinary income.

FY03/22

FY03/23

Change

% change

Net sales

84,295

100.0%

99,481

100.0%

＋15,185

＋18.0%

Gross profit

19,664

23.3%

24,730

24.9%

＋5,066

＋25.8%

SG&A expenses

18,976

22.5%

20,843

21.0%

＋1,866

＋9.8%

Operating profit

687

0.8%

3,887

3.9%

＋3,199

＋465.1%

Ordinary profit

1,012

1.2%

4,351

4.4%

＋3,338

＋329.8%

Profit before income

1,615

1.9%

5,228

5.3%

＋3,613

＋223.7%

taxes

Profit attributable to

257

0.3%

3,848

3.9%

＋3,591

15.0x

owners of parent

＋71.77

Earnings per share (yen)

4.92

76.69

15.6x

5

Copyright © Chugoku Marine Paints, Ltd. All Rights Reserved.

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CMP - Chugoku Marine Paints Ltd. published this content on 18 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2023 07:05:06 UTC.