Nitto Boseki : Financial Results Presentation (Fiscal Year Ending 2024/Mar 1Q) （1,541KB）

Nittobo Group Financial Results for the First Quarter of FY2023

(From 2023/Apr. to Jun.)

August 3, 2023

Summary of Financial Results For the First Quarter of FY2023

（From 2023/Apr. to Jun.）

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FY2023 1Q Financial Highlights

• Sales of Special Glass got on a recovery track from 1Q, but sales and profit declined due to the higher sales level in 1Q of FY2022.
• Cost increase due to soaring raw materials and fuel price continued to pushing down profits.
• Net profit significantly declined due to the absence of extraordinary gains as

there is in the last fiscal year.		（Billions of yen）
	FY2022	FY2023
	1Q		Change
	1Q

Net sales	23.8	20.3	(3.5)	-14.8%
Operating profit	2.6	0.9	(1.7)	-66.1%
ROS％	11.0%	4.4%
EBITDA	4.6	2.6	(2.0)	-43.6%
EBITDA margin	19.5%	12.9%
Ordinary profit	3.6	1.9	(1.7)	-47.6%
Net profit	4.8	1.1	(3.7)	-77.9%

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Operating Profit Change Analysis（FY22 1Q vs FY23 1Q）

（Billions of yen）

･In vitro diagnostic

reagent	→
･Special Glass	↘
･Flat fiber	↘
･Ultrafine yarn	↘
Ultra-thin cloth

2.6

(0.3) 0.3 (0.5) 0.2

	・Sales price	↗
(1.3)	・Logistics and	↘
repair costs etc.
		0.9
	(0.1)

FY22	Reinforcement	Depreciation	Raw material,	FOREX	Added value	Others	FY23
1Q	cost	cost	electric, fuel	difference	products sales		1Q
			cost
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Overview by Segment

Glass Fiber Business

		• （Composite materials）Sales were sluggish because there was no recovery in
			sales for smartphone and automotive sectors.
	Glass Fiber	• （Electronic materials）Special Glass sales got off the bottom but posted a year-
	Yarn	•	on-year decrease.
		Cost increase factors due to higher energy prices pushed down profits.
				Sales and Profit decreased
	Glass Fiber	•	Sales of Special Glass cloth continued to experience supply chain inventory
		adjustments in semi-conductor packages, but demand from data centers was
	Cloth
		strong.	Sales and Profit decreased
	GF for	•	Sales of heat-insulating materials for housing and glass cloth for equipment
	Industrial
		and construction materials increased.
	Materials		Sales and Profit increased
Life Science Business
	Medical	•	Sales of in vitro diagnostic reagents were generally favorable.
				Sales increased ・ Profit decreased
	Beverage	•	It is no longer included in the consolidated financial results from 4Q of the
		previous year due to the business transfer.
		•	Sales of interlining products were firm on the return of demand due to an
Textile	•	increase in opportunities to go out.
Increased overhead costs, etc., pushed down profits.
				Sales increased・Profit decreased
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