Osaka Soda : Announces Revisions to the First Half and Full-Year Earnings Forecast and Dividend Forecast for the Fiscal Year Ending March 31, 2022
October 19, 2021 at 01:32 pm IST
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October 19, 2021
To whom it may concern,
Company name: OSAKA SODA Co., LTD.
Securities Code: 4046, First Section, Tokyo Stock Exchange
Representative:
Kenshi Terada
Representative Director, Chief Executive Officer
For inquiry:
Toru Imamura
General Manager, Administration Division
Tel: +81-(0)6-6110-1560
Osaka Soda Announces Revisions to the First Half and Full-Year Earnings Forecast and Dividend Forecast for the Fiscal Year Ending March 31, 2022
Based on recent performance trends, Osaka Soda (the "Company") hereby announces the revisions to the first half and full-year consolidated earnings forecast and dividend forecast for the fiscal year ending March 31, 2022 ("Fiscal Year 2021"), which were announced on May 14, 2021.
1. Revisions to consolidated earnings forecast
Revisions to consolidated earnings forecast for the first half of Fiscal Year 2021 (April 1, 2021 - September 30, 2021)
(Millions of yen; unless otherwise noted)
Net Sales Operating
Ordinary
Quarterly net
Quarterly
Income
Income
income attributable
earnings
to owners of the
per share
parent
(yen)
Previous Forecast (A)
37,000
4,000
4,400
3,200
137.18
Revised Forecast (B)
41,000
5,700
6,100
4,400
188.62
Change (B-A)
4,000
1,700
1,700
1,200
-
Change (%)
10.8%
42.5%
38.6%
37.5%
-
(Reference)
Previous Results for the
45,178
3,497
3,698
2,474
104.60
first half of Fiscal 2020
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Revisions to consolidated earnings forecast for Fiscal Year 2021 (April 1, 2021 - March 31, 2022)
(Millions of yen; unless otherwise noted)
Net Sales Operating
Ordinary
Net Income
Earnings
Income
Income
attributable to
per share
owners of the
(yen)
parent
Previous Forecast (A)
75,500
9,000
9,700
6,800
291.51
Revised Forecast (B)
82,000
10,700
11,400
8,000
342.95
Change (B-A)
6,500
1,700
1,700
1,200
-
Change (%)
8.6%
18.9%
17.5%
17.6%
-
(Reference)
Previous Results for
97,266
8,341
8,838
6,050
257.37
Fiscal 2020
(Note)
Since the "Accounting Standard for Revenue Recognition" (ASBJ Statement No.29) is adopted from the beginning of Fiscal Year 2021, the above consolidated earnings forecast is the figures assuming the same standard is adpopted.
(3) Reason for the revision
Net sales of Epichlorohydrin, Synthetic Rubber-related, and Allyl Ether are expected to exceed expectations mainly for electronic materials and automobile-related products for the first half of Fiscal Year 2021. Healthcare business expects to continue favorably, thanks to the expansion of the use of new grades of refined pharmaceutical materials and the acquisition of new projects for bulk and intermediates for pharmaceuticals.
From the third quarter onwards, the outlook is uncertain due to rising raw material & fuel prices and declining automobile production. However, based on the results up to the First half, we will revise upward our forecast for the first half and full-year results for Fiscal Year 2021 as described above. The adjusted first half cumulative period and full-year earnings are record highs.
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2. Revision to the dividend forecast
(1) Revision to the dividend forecast
Annual Dividends (yen)
End of first half
End of fiscal year
Total
Previous Forecast
32.50
32.50
65.00
Revised Forecast
35.00
35.00
70.00
Previous Results for Fiscal 2020
32.50
32.50
65.00
(2) Reason for the revision
In the light of the above revisions to earnings forecast, the Company will revise the dividend at the end of the first half to 35.00 yen, an increase by 2.50 yen from 32.50 yen per share from the previous forecast, taking into account the continuity of stable dividends and retained earnings for future business development. The forecast for the year-end dividend will be increased from the previous forecast of 32.50 yen per share to 35.00 yen. As a result, the annual dividend per share is 70.00 yen, an increase of ¥5.00 from the previous forecast, and an increase of ¥5.00 compared to the previous fiscal year.
(Note)
The above-mentioned forecasts are based on information currently available to the Company. Actual results may differ from the forecasts due to various factors in the future.
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Osaka Soda Co. Ltd. published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2021 08:01:08 UTC.
OSAKA SODA CO., LTD. is a Japan-based chemical manufacturer that has three business segments. The Basic Chemical Product segment manufactures and sells caustic soda, hydrochloric acid, liquid chlorine, chlorine gas, sodium hypochlorite, sodium chlorite soda, caustic potash, hydrogen gas, epichlorohydrin, allyl chloride and others. The Functional Chemical Product segment manufactures and sells allyl ethers, epichlorohydrin rubber, dap resin, modifiers for energy saving tires, purified pharmaceutical materials, optical active materials, pharmaceutical active ingredients, intermediates, electrodes and lens materials, among others. The Housing Facility and Others segment is engaged in the provision of duping materials, housing related products.