FUJI OIL HOLDINGS INC.
Financial Results Supplement Material
FY2023 FYE March 2024
4Q
Page Item
1Cover
- 0-1: Note / Exchange Rate
- 1-1: FY2023 4Q Consolidated Financial Results (3 months)
- 1-2: FY2023 4Q Consolidated Financial Results
- 2-1: Major Indicators
- 3-1: FY2024 Consolidated Financial Forecast
- 3-2: FY2024 Consolidated Financial Forecast (by Business, Area)
1
0-1:Note / Exchange Rate
Note
Change in accounting period for certain subsidiaries
At the end of FY2022, we made the following changes to the accounting period of our subsidiaries. We changed the accounting period of INDUSTRIAL FOOD SERVICES PTY LIMITED from the end of December to the end of March. We also changed the accounting period for Blommer Chocolate Manufacturing (Shanghai) Co., Ltd. from the end of January to the end of March.
As the effect on consolidated accounting is immaterial, we have made no revisions to YOY comparisons or other figures.
Company | Country | Business | Area | FY2022 Fiscal Period | Fiscal Period from FY2023 |
INDUSTRIAL FOOD | Australia | Industrial | SE Asia | Jan. 2022 - Mar. 2023 | Apr. 2023 - Mar. 2024 |
SERVICES PTY LIMITED | Chocolate | (15 months) | (12 months) | ||
Blommer Chocolate | Industrial | Feb. 2022 - Mar. 2023 | Apr. 2023 - Mar. 2024 | ||
Manufacturing (Shanghai) | China | China | |||
Chocolate | (14 months) | (12 months) | |||
Co., Ltd. | |||||
The recording of extraordinary loss for Blommer and change in accounting period for Blommer
We recorded the extraordinary losses of 10.1 billion yen (71 million US$), consisting of impairment loss* of
6.4 billion yen on goodwill and impairment loss of 3.7 billion yen on tangible assets of Blommer in the third quater of FY2023.
* Impairment loss on goodwill indicated in these materials refers to the additional amortization cost of goodwill due to impairment accounting for subsidiary shares in accordance with the provisions of Section 32 of the Practical Guidelines on Accounting Standards for Capital Consolidation Procedures in Preparing Consolidated Financial Statements (The Japanese Institute of Certified Public Accountants, Accounting Practice Committee Statement No. 7, October 28, 2022).
From FY2024, we will change the Blommer accounting period to the end of March. Previously, Blommer's profit and loss statement from February to January of the next year was consolidated. From FY2024, Blommer's profit and loss statement from April to March of the next year is consolidated.
Main exchange rate
・P/L:Average rate , B/S:Current rate
FY2022 | FY2023 | YOY | FY2024 | ||
End | End | Change | Rate of change | Plan | |
P/L | 135.47 | 144.62 | +9.15 | +6.8% | 145.00 |
$ | |||||
B/S | 133.53 | 151.41 | +17.88 | +13.4% | - |
P/L | 26.28 | 29.31 | +3.03 | +11.5% | 29.50 |
BRL | |||||
B/S | 26.29 | 30.31 | +4.02 | +15.3% | - |
P/L | 140.97 | 156.80 | +15.83 | +11.2% | 156.00 |
€ | |||||
B/S | 145.72 | 163.24 | +17.52 | +12.0% | - |
P/L | 19.75 | 20.14 | +0.39 | +2.0% | 20.00 |
RMB | |||||
B/S | 19.42 | 20.83 | +1.41 | +7.3% | - |
- FY2023 Blommer ($) : P/L 141.91, B/S 148.19
2
1-1: FY2023 4Q Consolidated Financial Results (3 months)
●Summary | Net sales : 142.5 billion yen, YOY +1.8 billion yen |
Operating profit : 5.3 billion yen, YOY +3.2 billion yen |
●Net sales: Net sales increased thanks to higher sales prices to reflect higher raw material prices and the effect of yen depreciation on Industrial Chocolate Business despite decreased sales due to the transfer of fixed assets of Fuji Oil New Orleans on Vegetable Oils and Fats Business.
●Operating profit: Operating profit increased thanks to improved profitability in the Americas and Southeast Asia on Vegetable Oils and Fats Business, decreased temporary costs in the U.S. on Industrial Chocolate Business, and increased sales volume in Brazil on Industrial Chocolate Business.
Vegetable | |
Oils and Fats | |
Industrial Chocolate | |
Net sales | Emulsified and Fermented |
Ingredients | |
Soy-based | |
Ingredients |
FY2022 | FY2023 | YOY |
4Q | 4Q | |
49.8 | 45.7 | (4.1) |
61.1 | 66.7 | +5.6 |
21.4 | 22.0 | +0.6 |
8.5 | 8.3 | (0.3) |
(Unit:JPY billion)
Factors of change (YOY)
Net sales decreased due to lower sales by the transfer of fixed assets of Fuji Oil New Orleans.
Net sales increased thanks to higher sales prices to reflect higher raw material prices, increased sales volume in Brazil, and the effect of yen depreciation.
Net sales increased thanks to increased sales volume in Japan and the effect of yen depreciation.
Net sales decreased due to lower sales volume in Japan.
Total | |
Vegetable | |
Oils and Fats | |
Industrial Chocolate | |
Operating | Emulsified and Fermented |
Ingredients | |
profit | |
Soy-based | |
Ingredients | |
Group administrative | |
expenses | |
Total |
Operating margin
Ordinary profit
Profit attributable to owners of parent
*Figures are rounded to the nearest JPY billion.
140.7 | 142.5 | +1.8 |
1.8 | 3.7 | +1.9 |
0.9 | 2.1 | +1.2 |
0.6 | 0.8 | +0.2 |
(0.1) | (0.2) | (0.2) |
(1.0) | (1.0) | (0.1) |
2.2 | 5.3 | +3.2 |
1.5% | 3.7% | +2.2pt |
1.3 | 5.2 | +3.8 |
1.1 | 1.6 | +0.5 |
Operating profit increased thanks to improved profitability in the Americas and Southeast Asia, and the transfer of fixed assets of Fuji Oil New Orleans, which recorded operating losses in the previous fiscal year.
Operating profit increased thanks to decreased temporary costs in the U.S. and increased sales volume in Brazil although sales volume continued to decline in the U.S.
Operating profit increased thanks to higher sales volume of whipping cream in Japan and improved profitability in China.
Operating profit decreased due to increased depreciation cost for a new plant in Europe.
Profit increased thanks to increased operating profit despite the increase of expenses related to the closure of Blommer Chicago plant on Industrial Chocolate Business.
3
1-2: FY2023 Consolidated Financial Results
●Summary | Net sales : 564.1 billion yen, YOY +6.7 billion yen |
Operating profit : 18.2 billion yen, YOY +7.3 billion yen |
●Net sales: Net sales increased thanks to higher sales prices to reflect higher raw material prices and the effect of yen depreciation on Industrial Chocolate Business despite declined sales prices to reflect stable prices for palm oil, our main raw material, and decreased sales due to the transfer of fixed assets of Fuji Oil New Orleans on Vegetable Oils and Fats Business.
●Operating profit: Operating profit increased thanks to improved profitability in Japan, the Americas, and Europe on Vegetable Oils and Fats Business despite decreased sales volume against stagnant demand in the confectionery market and increased fixed cost in the U.S. on Industrial Chocolate Business.
Vegetable | |
Oils and Fats | |
Industrial Chocolate | |
Net sales | Emulsified and Fermented |
Ingredients | |
Soy-based | |
Ingredients |
FY2022 FY2023 YOY
203.4 185.4 (18.1)
228.5 253.4 +24.9
91.2 89.9 (1.3)
34.3 35.5 +1.2
(Unit:JPY billion)
Factors of change (YOY)
Net sales decreased due to declined sales prices to reflect stable prices for palm oil, our main raw material, and lower sales by the transfer of fixed assets of Fuji Oil New Orleans.
Net sales increased thanks to higher sales prices to reflect higher raw material prices, increased sales volume in Brazil and Europe, and the effect of yen depreciation.
Net sales decreased due to lower sales volume and declined sales prices to reflect falling raw material prices in Southeast Asia and China.
Net sales increased thanks to higher sales prices to reflect higher raw material prices due to the effect of yen depreciation.
Total | |
Vegetable | |
Oils and Fats | |
Industrial Chocolate | |
Operating | Emulsified and Fermented |
Ingredients | |
profit | |
Soy-based | |
Ingredients | |
Group administrative | |
expenses | |
Total |
Operating margin
Ordinary profit
Profit attributable to owners of parent
*Figures are rounded to the nearest JPY billion.
557.4 | 564.1 | +6.7 |
7.0 | 15.4 | +8.4 |
5.0 | 1.8 | (3.1) |
1.5 | 3.8 | +2.3 |
1.3 | 1.0 | (0.2) |
(3.8) | (3.9) | (0.1) |
10.9 | 18.2 | +7.3 |
2.0% | 3.2% | +1.3pt |
9.7 | 16.8 | +7.1 |
6.1 | 6.5 | +0.4 |
Operating profit increased thanks to improved profitability to reflect stable raw material prices in Japan, the Americas, and Europe, and the transfer of fixed assets of Fuji Oil New Orleans, which recorded operating losses in the previous fiscal year.
Operating profit decreased due to lower sales volume against stagnant demand in the confectionery market and worsening of profitability caused by soaring raw material prices and increased fixed cost in the U.S., despite increases in sales volume in Brazil and Europe.
Operating profit increased thanks to higher sales volume of whipping cream in Japan and improved profitability in China.
Operating profit decreased due to increased depreciation cost for a new plant in Europe.
Profit increased thanks to extraordinary income from the transfer of fixed assets of Fuji Oil New Orleans on Vegetable Oils and Fats Business as well as improved profitability mainly on Vegetable Oils and Fats Business despite extraordinary loss for Blommer on Industrial Chocolate Business.
4
2-1:Major Indicators
Primary Item
PL related
BS related
Item
Operating profit
Operating profit growth rate
EBITDA
Capital Expenditures
Depreciation
ROA
ROE
Net profit margin
Total asset turnover
Financial leverage
ROIC
Total assets
Interest-bearing debt
Net interest-bearing debt
Net operating capital
Equity ratio
Debt ratio
Unit | Note |
JPY billion
%
JPY billion
JPY billion For tangible fixed assets
JPY billion Depreciation for tangible fixed assets
Ordinary profit
- / Average total assets at beginning and end of period Net profit margin × Total asset turnover
- × Financial leverage
- Net profit / Net sales
Times Net sales / Total assets at beginning and end of period
Times Total assets / Equity
Operating profit × (1-corporate tax rate)
- / (Interest-bearing debt + Equity)
JPY billion
JPY billion
JPY billion
JPY billion
%
%
FY2021 | FY2022 | FY2023(Total Results) | |||
1Q | 2Q | 3Q | 4Q | ||
15.0 | 10.9 | 3.6 | 8.8 | 12.9 | 18.2 |
(16.2%) | (27.1%) | +51.0% | +73.7% | +47.0% | +66.5% |
32.4 | 31.2 | 8.6 | 18.9 | 34.7 | 45.3 |
17.3 | 21.5 | 3.6 | 7.0 | 11.1 | 15.1 |
12.7 | 14.6 | 3.6 | 7.2 | 11.0*² | 14.9 |
3.7% | 2.2% | 2.7% | 3.4% | 3.3% | 3.6% |
6.6% | 3.1% | 17.0% | 11.4% | 3.1% | 3.0% |
2.7% | 1.1% | 6.9% | 4.6% | 1.2% | 1.2% |
1.12 | 1.26 | 1.09 | 1.12 | 1.18 | 1.20 |
2.2 | 2.3 | 2.2 | 2.2 | 2.2 | 2.0 |
3.1% | 2.0% | 2.5% | 3.0% | 3.2% | 3.5% |
416.6 | 468.8 | 496.1 | 503.4 | 483.0 | 470.2 |
148.8 | 168.4 | 175.2 | 169.1 | 156.4 | 130.3 |
132.8 | 149.4 | 135.5 | 140.9 | 129.1 | 102.8 |
80.5 | 81.9 | 117.3 | 123.5 | 119.7 | 89.9 |
44.7% | 43.3% | 45.2% | 46.2% | 46.0% | 49.4% |
121.9% | 127.1% | 116.3% | 111.6% | 112.2% | 97.3% |
FY2024 | Capital expenditures | |||
Forecast | ||||
20.0 | FY | Major expenditures | JPY billion | |
+9.8% | 2023 | Japan | Capital expenditures , etc. | 5.1 |
- | Total | Americas Capital expenditures for Blommer, etc. | 3.7 | |
- | Americas Construction of Harald's No.2 plant, etc. | 1.4 | ||
- | Total | 15.1 | ||
3.4% |
4.4%
1.7%
1.27
2.1
3.8%
470.0
138.5 Dividend history
123.5 Dividend Policy
- ・Payout ratio 30% to 40%
48.7% | ・Stable, consistent dividends | |
95.8% | Dividend per share | (Unit:JPY) |
CF related
Goodwill (in a broad sense)
Amortization of goodwill
Goodwill (in a broad sense) / Net assets ratio
D/E ratio
Net D/E ratio
Cash flows from operating activities
Cash flows from investing activities
Free cash flows
Cash flows from financing activities
CCC
JPY billion
JPY billion
%
Times
Times
JPY billion
JPY billion
JPY billion
JPY billion
Day
Goodwill (in a broad sense) refers to goodwill as well as trademark rights and other intangible fixed assets.
Interest-bearing debt / Equity
Net interest-bearing debt (interest-bearing debt - cash and deposits) / equity capital
49.9 | 55.2 | 57.8 | 58.4 | 52.5 | 51.7*³ |
2.2 | 2.6 | 0.7 | 1.3 | 2.1 | 2.6 |
26% | 26% | 25% | 24% | 22% | 21% |
0.80 | 0.83 | 0.78 | 0.73 | 0.70 | 0.56 |
0.73 | 0.80 | 0.70 | 0.71 | 0.69 | 0.54 |
3.5 | 7.6 | (2.1) | (1.6) | 19.5 | 48.2 |
(18.8) | (16.5) | 19.8 | 16.4 | 11.9 | 8.8 |
(15.3) | (8.9) | 17.7 | 14.8 | 31.4 | 57.0 |
9.4 | 9.8 | 1.0 | (6.9) | (23.5) | (50.0) |
115 | 104 | 122 | 117 | 103 | 102 |
- | FY | 1st half | 2nd half | total | Payout ratio |
- | 2016 | 22 | 22 | 44 | 31.2% |
- | 2017 | 23 | 25 | 48 | 30.0% |
0.61 | 2018 | 25 | 25 | 50 | 37.1% |
- | 2019 | 27 | 29 | 56 | 29.4% |
31.0 | 2020 | 26 | 26 | 52 | 40.6% |
(30.0) | 2021 | 26 | 26 | 52 | 38.9% |
1.0 | 2022 | 26 | 26 | 52 | 73.0% |
(14.5) | 2023 | 26 | 26 | 52 | 68.6% |
Forecast | |||||
97 | 2024 | 26 | 26 | 52 | 44.8% |
Forecast | |||||
*1 If the previous year's figure has changed, the retroactively corrected figure is shown.
*2 ROA, ROE and ROIC for 1Q, 2Q and 3Q FY2023 are annualized figures for reference.
*3 Excluding impairment loss of 6.4 billion yen on goodwill for Blommer.
5
3-1: FY2024 Consolidated Financial Forecast
●Summary | Net sales : 600.0 billion yen, YOY +35.9 billion yen |
Operating profit : 20.0 billion yen, YOY +1.8 billion yen |
Vegetable | |
Oils and Fats | |
Industrial Chocolate | |
Net sales | Emulsified and Fermented |
Ingredients | |
Soy-based | |
Ingredients | |
Total | |
Vegetable | |
Oils and Fats | |
Industrial Chocolate | |
Operating | Emulsified and Fermented |
Ingredients | |
profit | |
●Net sales: Planning on an increase in net sales thanks to sales prices revision appropriately to reflect higher raw material prices such as cocoa and an increase in fixed costs and the expansion on Emulsified and Fermented Ingredients Business despite lower sales volume in Blommer due to the closure of Chicago plant.
●Operating profit: Planning on an increase in operating profit thanks to the improvement in Blommer on Industrial Chocolate Business despite a decrease in operating profit on Vegetable Oils and Fats Business due to sales prices revision appropriately to reflect stable raw material prices.
(Unit:JPY billion) | |||
FY2023 | FY2024 | YOY | Factors of change (YOY) |
Results | Forecast | ||
185.4 | 187.4 | +2.0 | Planning on an increase in net sales thanks to higher sales prices to reflect an increase in fixed costs despite stable raw material prices. |
253.4 | 280.5 | +27.1 | Planning on an increase in net sales thanks to higher sales prices to reflect higher raw material prices despite lower sales volume in |
Blommer due to the closure of Chicago plant. | |||
89.9 | 95.0 | +5.1 | Planning on an increase in net sales mainly by expanding sales in China. |
35.5 | 37.1 | +1.6 | Planning on an increase in net sales thanks by expanding sales of soy protein ingredients in Japan. |
564.1 | 600.0 | +35.9 | |
15.4 | 12.3 | (3.1) | Planning on a decrease in sales price revision appropriately to reflect stable raw material prices. |
1.8 | 7.4 | +5.6 | Planning on an increase in operating profit mainly by the reduction of fixed costs in Blommer. |
3.8 | 3.5 | (0.3) | Planning on a decrease in operating profit in Japan despite improvement in Southeast Asia and China. |
Soy-based
Ingredients
Group administrative expenses
Total
Operating margin
Ordinary profit
Profit attributable to owners of parent
*Figures are rounded to the nearest JPY billion.
1.0 | 1.4 | +0.3 | Planning on an increase in operating profit by expanding sales in Japan. |
(3.9) | (4.6) | (0.7) | Planning on an increase in labor costs and group-wide fixed costs. |
18.2 | 20.0 | +1.8 | |
3.2% | 3.3% | +0.1pt | |
16.8 | 16.0 | (0.8) | Planning on a decrease in ordinary profit due to higher interest expenses. |
6.5 | 10.0 | +3.5 | Planning on an increase in profit thanks to an increase in operating profit as well as the reduction of temporary costs in the previous year. |
*From FY2024, we will change the Blommer accounting period to the end of March. Previously, Blommer's profit and loss statement from February to January of the next year was consolidated. From FY2024, Blommer's profit and loss statement from April to March of the next year is consolidated.
6
3-2: FY2024 Consolidated Financial Forecast (by Business, Area)
Net Sales | (Unit: JPY million) | |||||||||||||
FY | Japan | Americas | SE Asia | China | Europe | Consolidated | ||||||||
Total | ||||||||||||||
YOY | YOY | YOY | YOY | YOY | YOY | |||||||||
Vegetable | 2024 | Forecast | 59,000 | +1,987 | 60,900 | (2,114) | 26,000 | (485) | 3,600 | +281 | 37,900 | +2,380 | 187,400 | +2,049 |
2023 | Results | 57,012 | +579 | 63,014 | (16,203) | 26,485 | (4,372) | 3,318 | (56) | 35,519 | +1,954 | 185,350 | (18,097) | |
Oils and Fats | ||||||||||||||
2022 | Results | 56,432 | - | 79,217 | - | 30,858 | - | 3,374 | - | 33,564 | - | 203,448 | - | |
Industrial | 2024 | Forecast | 49,400 | +3,093 | 185,000 | +14,824 | 26,600 | +7,025 | 9,400 | +1,523 | 10,100 | +624 | 280,500 | +27,091 |
2023 | Results | 46,306 | +4,057 | 170,175 | +16,851 | 19,574 | +1,406 | 7,876 | +409 | 9,475 | +2,171 | 253,408 | +24,895 | |
Chocolate | ||||||||||||||
2022 | Results | 42,248 | - | 153,324 | - | 18,168 | - | 7,467 | - | 7,304 | - | 228,513 | - | |
Emulsified and | 2024 Forecast | 59,700 | +682 | - | - | 14,900 | +460 | 20,400 | +4,001 | - | - | 95,000 | +5,144 | |
Fermented | 2023 Results | 59,017 | +1,319 | - | - | 14,439 | (1,632) | 16,398 | (997) | - | - | 89,855 | (1,309) | |
Ingredients | 2022 Results | 57,697 | - | - | - | 16,071 | - | 17,395 | - | - | - | 91,164 | - | |
Soy-based | 2024 | Forecast | 36,000 | +1,298 | - | - | - | - | 900 | +129 | 200 | +200 | 37,100 | +1,627 |
2023 | Results | 34,701 | +1,452 | - | - | - | - | 770 | (265) | 0 | +0 | 35,472 | +1,188 | |
Ingredients | ||||||||||||||
2022 | Results | 33,248 | - | - | - | - | - | 1,035 | - | - | - | 34,284 | - | |
Net Sales | 2024 | Forecast | 204,100 | +7,062 | 245,900 | +12,709 | 67,500 | +7,000 | 34,300 | +5,936 | 48,200 | +3,204 | 600,000 | +35,912 |
2023 | Results | 197,037 | +7,409 | 233,190 | +648 | 60,499 | (4,598) | 28,363 | (909) | 44,995 | +4,126 | 564,087 | +6,676 | |
Total | ||||||||||||||
2022 | Results | 189,627 | - | 232,542 | - | 65,097 | - | 29,273 | - | 40,869 | - | 557,410 | - | |
* Net sales above is sales to outside customers.
Operating Profit
FY | Japan | Americas | SE Asia | China | Europe | Consolidated | Group administrative | Consolidated | ||||||||||
adjustment | expenses | Total | ||||||||||||||||
YOY | YOY | YOY | YOY | YOY | YOY | YOY | YOY | |||||||||||
Vegetable | 2024 | Forecast | 4,907 | (919) | 2,824 | (1,482) | 2,526 | +377 | (3) | (8) | 2,021 | (1,060) | 27 | (46) | - | - | 12,302 | (3,138) |
2023 | Results | 5,825 | +1,875 | 4,306 | +5,244 | 2,148 | (811) | 4 | +192 | 3,081 | +1,698 | 73 | +218 | - | - | 15,439 | +8,418 | |
Oils and Fats | ||||||||||||||||||
2022 | Results | 3,950 | - | (938) | - | 2,959 | - | (187) | - | 1,383 | - | (145) | - | - | - | 7,021 | - | |
Industrial | 2024 | Forecast | 5,355 | (906) | 144 | +6,808 | 1,512 | +210 | 17 | (204) | 370 | (307) | 27 | (17) | - | - | 7,426 | +5,585 |
2023 | Results | 6,261 | +632 | (6,664) | (4,639) | 1,301 | +419 | 221 | +182 | 676 | +301 | 44 | (29) | - | - | 1,840 | (3,132) | |
Chocolate | ||||||||||||||||||
2022 | Results | 5,629 | - | (2,025) | - | 882 | - | 38 | - | 375 | - | 73 | - | - | - | 4,973 | - | |
Emulsified and | 2024 Forecast | 2,808 | (723) | - | - | 30 | +337 | 658 | +84 | - | - | 32 | +37 | - | - | 3,528 | (266) | |
Fermented | 2023 Results | 3,531 | +1,368 | - | - | (306) | +125 | 574 | +760 | - | - | (5) | +49 | - | - | 3,793 | +2,302 | |
Ingredients | 2022 Results | 2,163 | - | - | - | (432) | - | (185) | - | - | - | (54) | - | - | - | 1,490 | - | |
Soy-based | 2024 | Forecast | 1,612 | +56 | - | - | - | - | 386 | +110 | (676) | +209 | 38 | (56) | - | - | 1,359 | +319 |
2023 | Results | 1,555 | +209 | - | - | - | - | 275 | (9) | (884) | (508) | 94 | +71 | - | - | 1,040 | (237) | |
Ingredients | ||||||||||||||||||
2022 | Results | 1,346 | - | - | - | - | - | 284 | - | (376) | - | 22 | - | - | - | 1,277 | - | |
Consolidated | 2024 | Forecast | - | (127) | - | +13 | - | (22) | - | +6 | - | (57) | - | +177 | - | - | - | (10) |
2023 | Results | 127 | (30) | (13) | (5) | 22 | +75 | (6) | (23) | 57 | +190 | (177) | (166) | - | - | 10 | +40 | |
Adjustment | ||||||||||||||||||
2022 | Results | 158 | - | (8) | - | (52) | - | 16 | - | (133) | - | (10) | - | - | - | (30) | - | |
Group | 2024 Forecast | - | - | - | - | - | - | - | - | - | - | - | - | (4,615) | (704) | (4,615) | (704) | |
Administrative | 2023 Results | - | - | - | - | - | - | - | - | - | - | - | - | (3,910) | (118) | (3,910) | (118) | |
Expenses | 2022 Results | - | - | - | - | - | - | - | - | - | - | - | - | (3,792) | - | (3,792) | - | |
Operating Profit | 2024 | Forecast | 14,681 | (2,620) | 2,968 | +5,339 | 4,068 | +901 | 1,059 | (10) | 1,715 | (1,215) | 124 | +95 | (4,615) | (704) | 20,000 | +1,787 |
2023 | Results | 17,301 | +4,053 | (2,371) | +600 | 3,166 | (190) | 1,069 | +1,102 | 2,930 | +1,682 | 28 | +143 | (3,910) | (118) | 18,213 | +7,273 | |
Total | ||||||||||||||||||
2022 | Results | 13,247 | - | (2,972) | - | 3,356 | - | (33) | - | 1,248 | - | (114) | - | (3,792) | - | 10,940 | - | |
7
FUJI OIL HOLDINGS INC.
IR Supplement Material
FY2023 FYE March 2024
4Q
Page Item
- Cover
- FY2023 4Q Pick out:Market and sales trends in each area
- IR Supplement (1):Sales volumes of major product categories (YOY)
- IR Supplement (2):Main raw material market price(~ the end of Apr. 2024)
- IR Supplement (3):Topics / Pick out
8
FY2023 4Q Pick out:Market and sales trends in each area
Area 4Q(Jan. - Mar. 2024)Market and sales trends
Industrial Chocolate | |
-Sales were firm for souvenir, ice cream, and covenience stores market. | |
Emulsified and Fermented Ingredients | |
Japan | -Sales of whipping cream were firm for confectionery in convenience stores and food service chains. |
Soy-based Ingredients | |
-Among soy protein ingredients, sales volume of low-margin granulated soy protein decreased, and textured soy protein recoverd for home-meal replacement | |
products. | |
-Sales volume of soy protein foods for home delivery continued to decrease. | |
Vegetable Oils and Fats | |
-Sales of vegetable fats for chocolate increased thanks to capturing new demand for confectionery distribution. | |
America | Industrial Chocolate (4Q: Nov. 2023 - Jan. 2024) |
-Consumption in the chocolate confectionery market continued to weaken as a result of inflation. |
Brazil
SE Asia
China
Europe
Industrial Chocolate
-Sales for Easter increased YOY, contributed by Harald's No.2 factory, which started operation in April 2023.
Industrial Chocolate
-Sales were firm for bakeries in Australia although sales for events such as Valentine's Day declined YOY in Indonesia.
Emulsified and Fermented Ingredients
-Sales volume is on a gradual recovery trend thanks to expansion for new customers despite the impact of economic downturn.
Industrial Chocolate
-Demand was firm for gift market.
9
IR Supplement (1):Sales volumes of major product categories (YOY)
FY2021 | FY2022 | FY2023 | ||||||||||||||||||||
Business | Area | Product | 1Q | 2Q | 1st | 2nd | 1Q | 2Q | 1st | 2nd | 1Q | 2Q | 1st | 2nd | ||||||||
3Q | 4Q | Total | 3Q | 4Q | Total | 3Q | 4Q | |||||||||||||||
half | half | half | half | half | half | |||||||||||||||||
Japan | 96% | 102% | 99% | 102% | 98% | 100% | 100% | 111% | 106% | 108% | 91% | 98% | 94% | 100% | 92% | 91% | 91% | 102% | 107% | 104% | ||
Americas | 89% | 112% | 99% | 100% | 102% | 101% | 100% | 113% | 94% | 103% | 100% | 77% | 87% | 96% | 82% | 91% | 86% | 116% | 126% | 121% | ||
Vegetable | SE Asia | Vegetable fats for | 93% | 98% | 95% | 96% | 103% | 99% | 97% | 107% | 105% | 106% | 84% | 88% | 86% | 95% | 91% | 87% | 89% | 102% | 109% | 105% |
chocolate | ||||||||||||||||||||||
Oils and Fats | ||||||||||||||||||||||
(CBS,CBR,CBS) | ||||||||||||||||||||||
China | 72% | 77% | 75% | 54% | 63% | 57% | 66% | -*³ | -*³ | -*³ | -*³ | -*³ | -*³ | -*³ | -*³ | -*³ | -*³ | -*³ | -*³ | -*³ | ||
Europe | 180% | 153% | 164% | 135% | 104% | 118% | 137% | 109% | 70% | 88% | 69% | 80% | 75% | 81% | 84% | 124% | 102% | 122% | 111% | 116% | ||
Total | 101% | 110% | 106% | 102% | 101% | 102% | 103% | 108% | 93% | 100% | 86% | 85% | 85% | 92% | 88% | 96% | 92% | 108% | 114% | 111% | ||
Japan | 114% | 106% | 110% | 104% | 97% | 101% | 105% | 98% | 96% | 97% | 93% | 95% | 94% | 96% | 97% | 101% | 99% | 101% | 101% | 101% | ||
Americas | 218% | 123% | 147% | 102% | 121% | 111% | 123% | 112% | 105% | 108% | 100% | 102% | 101% | 104% | 118% | 110% | 113% | 109% | 116% | 113% | ||
(Brazil) | ||||||||||||||||||||||
SE Asia | 117% | 110% | 113% | 106% | 106% | 106% | 109% | 105% | 109% | 107% | 103% | 112% | 108% | 107% | 107% | 109% | 108% | 110% | 94% | 102% | ||
Industrial | China | Chocolate | 115% | 83% | 95% | 106% | 77% | 93% | 94% | 77% | 103% | 91% | 87% | 110% | 97% | 94% | 112% | 76% | 89% | 98% | 141% | 115% |
Chocolate | (Including cocoa | |||||||||||||||||||||
Europe | products) | 152% | 125% | 137% | 152% | 129% | 139% | 138% | 120% | 129% | 125% | 114% | 111% | 112% | 118% | 119% | 106% | 112% | 107% | 114% | 111% | |
Total | 133% | 112% | 120% | 106% | 108% | 107% | 113% | 104% | 105% | 104% | 98% | 103% | 100% | 102% | 108% | 104% | 106% | 106% | 108% | 107% | ||
(excluding |
Blommer)
Total | FY2023 Q4 Key point |
98% Sales for confectionery distribution recovered.
102% Sales volume for confectionery distribution increased.
97% Sales increased year-on-year, as it has been a year since sales to confectionery distribution declined.
-*³
109% Sales for confectionery distribution were firm.
101%
100% Sales for souvenir, ice cream, and convenience stores market increased.
113% Sales for Easter were firm.
105% Sales volume decreased due to lower sales for events such as Valentine's Day YOY.
101% Sales increased thanks to spot demand.
111% Sales to souvenir market were strong.
106%
Blommer | 106% | 108% | 107% | 96% | 98% | 96% | 101% | 95% | 92% | 94% | 87% | 94% | 90% | 92% | 84% | 89% | 86% | 94% | 88% | 91% | 88% Sales decreased due to weak consumption. |
Total | 116% | 110% | 113% | 100% | 103% | 102% | 107% | 99% | 98% | 98% | 93% | 98% | 96% | 97% | 95% | 96% | 96% | 100% | 99% | 100% | 98% |
(including |
Blommer)
Whipping cream | 119% | 108% | 113% | 104% | 102% | 103% | 108% | 97% | 106% | 101% | 104% | 105% | 104% | 103% | 108% | 107% | 107% | 110% | 108% | 109% | ||
Japan | ||||||||||||||||||||||
Margarine / | 102% | 98% | 100% | 98% | 91% | 94% | 97% | 104% | 106% | 105% | 101% | 104% | 103% | 104% | 100% | 99% | 99% | 96% | 99% | 98% | ||
Shortening | ||||||||||||||||||||||
Emulsified | ||||||||||||||||||||||
and | SE Asia | Whipping cream | 157% | 72% | 105% | 79% | 124% | 97% | 101% | 84% | 134% | 105% | 86% | 94% | 90% | 98% | 89% | 74% | 81% | 126% | 89% | 106% |
Fermented | ||||||||||||||||||||||
Ingredients | ||||||||||||||||||||||
Margarine / | 118% | 94% | 105% | 121% | 117% | 119% | 112% | 124% | 80% | 102% | 73% | 83% | 77% | 89% | 73% | 118% | 90% | 93% | 99% | 96% | ||
Shortening | ||||||||||||||||||||||
China
108%
99%
93%
93%
Sales for food services and convenience stores increased.
Sales for bakeries and confectionery distribution remain at the same level as the previous year.
Sales for bakeries decreased.
Sales remain at the same level as the previous year due to expansion to new customers despite lower sales to existing cuntomers by economic downtown.
Filling | 144% | 111% | 126% | 123% | 115% | 119% | 122% | 88% | 92% | 90% | 87% | ||
Soy protein | 106% | 103% | 104% | 102% | 102% | 102% | 103% | 96% | 98% | 97% | 95% | ||
ingredients | |||||||||||||
Soy-based | Japan | Soy protein foods | 107% | 96% | 102% | 100% | 99% | 99% | 100% | 105% | 96% | 101% | 95% |
Ingredients | |||||||||||||
Functional | 103% | 99% | 101% | 99% | 99% | 99% | 100% | 87% | 110% | ||||
ingredients | |||||||||||||
*1: If the previous year's figure has changed due to a revision of the product category definition, etc., the retroactively corrected figure is shown.
*2: For companies that changed fiscal year end in FY2022Q4, comparison is made with the same month of the previous year.
*3: Vegetable fats for chocolate in China are not disclosed due to low volume.
87% | 87% | 88% | 94% | 94% | 94% | 104% | 99% | 101% | 98% | Sales remain at the same level as the previous year due to expansion to new |
customers despite lower sales to existing cuntomers by economic downtown. | ||||||||||
92% | 93% | 95% | 100% | 97% | 98% | 104% | 98% | 101% | 100% | Sales volume of low-margin granulated soy protein decreased, and textured soy |
protein recoverd for home-meal replacement products. | ||||||||||
94% | 95% | 98% | 97% | 91% | 94% | 92% | 87% | 90% | 92% | Sales decreased in home delivery demand and school lunch. |
84% | 86% | 85% | 95% | 79% | 86% | 86% | Sales decreased due to the rebound of the previous year. |
10
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Fuji Oil Holdings Inc. published this content on 09 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 May 2024 06:08:12 UTC.