Hitachi Metals, Ltd.
Financial Results for the First Three Months
of Fiscal Year 2022 (April 1 to June 30, 2022)
[Table of Contents]
- Overview of Operating Results
- Operating Results by Segment
- Financial Condition
- Consolidated Cash Flows
5. Tender Offer Bid (TOB) | July 27, 2022 |
© Hitachi Metals, Ltd. 2022 All rights reserved.
1. Overview of Operating Results
1-1. Overview of the First Quarter, FY2022
Management environment
ーThe contents on this page are based on estimates by Hitachi Metals, Ltd. which reference various materials.ー
- While there are signs of material prices peaking out of the surge, prices remained high due to the impact of the depreciation of the yen to its lowest level in decades
- The impact of shortage in components and materials as well as international logistics disruption continued
- The uncertain situation of the outlook for the demand continued, including the spread of COVID-19 and the situation in Ukraine
Revenues
- Increased year on year due to the impact from a rise in raw material prices (sliding-scale rate material price system) and the depreciation of the yen.
- Trends in business fields (YoY)
[Automobiles] | As for volume trends by product group, while the volume increased for automotive casting |
products due to demand recovery in the North American market, the volume decreased for | |
Industrial equipment materials, magnetic materials, and automotive electronic components | |
due to the impact of production adjustments by automobile manufacturers reflecting | |
semiconductor shortages and China's lockdowns, among other factors. | |
[Aircraft] | Demand related to small- and medium-sized passenger aircraft rebounded significantly. |
[FA / robots] | Capital expenditure demand related to manufacturing, mainly for automobiles and |
semiconductors, increased. | |
[Semiconductors] | Demand for use in telecommunications equipment and automobiles increased |
Adjusted operating income / Net income*
Adjusted operating income and net income increased by ¥3.3 billion and ¥12.1 billion, respectively, year on year, reflecting a rise in profit as a result of cost reduction measures and the depreciation of the yen, despite a decline in profit due to revenues, sales portfolio, etc. as well as soaring raw material prices and electricity and transportation costs.
Sales prices are being revised in response to an increase in expenses and energy cost due to soaring resource | |
prices. | 1 |
* Net income attributable to shareholders of the parent company | © Hitachi Metals, Ltd. 2022 All rights reserved. |
1-2. Operating Results
FY2021 | FY2022 | ||||||||||||||||||
¥ billions | 1Q (Apr - Jun)(A) 2Q (Jul - Sep) 3Q (Oct - Dec) 4Q (Jan - Mar) | Full-year | 1Q (Apr - Jun)(B) | Differences | Full-year | ||||||||||||||
Forecasts | |||||||||||||||||||
Italic letters indicate | US$1 = ¥109 | US$1 = ¥110 | US$1 = ¥114 | US$1 = ¥116 | US$1 = ¥112 | US$1=¥130 | Year-on-Year | US$1 = ¥120 | |||||||||||
profit margin. | €1 = ¥132 | €1 = ¥130 | €1 = ¥130 | €1 = ¥130 | €1 = ¥131 | €1=¥138 | (B/A-1)*100[%] | €1 = ¥130 | |||||||||||
1 yuan = ¥17.0 | 1 yuan = ¥17.0 | 1 yuan = ¥17.8 | 1 yuan = ¥18.3 | 1 yuan = ¥17.5 | 1 yuan=¥19.6 | or B-A | 1 yuan = ¥19.0 | ||||||||||||
Revenues | 226.9 | 229.5 | 234.4 | 251.9 | 942.7 | 276.8 | +22% | 1,100.0 | |||||||||||
Adjusted | 3.7% | 8.5 | 3.0% | 6.8 | 2.3% | 5.3 | 2.5% | 6.2 | 2.8% | 26.8 | 4.3% | 11.8 | +3.3 | 6.4% | 70.0 | ||||
operating income* | |||||||||||||||||||
IFRS | 1.9% | 4.2 | 4.6% 10.6 | 1.8% | 4.2 | 3.1% | 7.7 | 2.8% 26.7 | 3.5% | 9.8 | +5.6 | - | |||||||
operating income | |||||||||||||||||||
Income | 4.3 | 11.0 | 5.2 | 12.2 | 32.7 | 19.9 | +15.6 | 41.5 | |||||||||||
before income taxes | |||||||||||||||||||
Net income (loss) | 3.0 | 8.3 | 2.2 | -1.5 | 12.0 | 15.1 | +12.1 | 30.0 | |||||||||||
attributable to shareholders | |||||||||||||||||||
of the parent company | |||||||||||||||||||
*Adjusted operating income = Revenues - Sales cost - Selling, general, & administrative expenses | Foreign exchange gains: | ||||||||||||||||||
¥10.1 billion | |||||||||||||||||||
Sales by region | |||||||||||||||||||
¥ billions | Japan | North America | China | Other Asian countries Europe | Others | ||||||||||||||
1Q, | Revenues | 98.4 | 65.1 | 19.5 | 29.0 | 10.4 | 4.5 | ||||||||||||
FY2021 | Sales ratio | 43% | 29% | 9% | 13% | 4% | 2% | ||||||||||||
1Q, | Revenues | 103.3 | 95.2 | 22.9 | 36.1 | 13.3 | 6.0 | ||||||||||||
FY2022 | Sales ratio | 37% | 35% | 8% | 13% | 5% | 2% | ||||||||||||
Revenues Year-on-Year | +5% | +46% | +17% | +24% | +28% | +33% |
2
© Hitachi Metals, Ltd. 2022 All rights reserved.
1-3. Factors Behind Increase/Decrease in Revenues and Adjusted Operating Income (Year-on-Year)
[Revenues] | ¥ billions | |||
31.0 | 276.8 | |||
Specialty Steel Products | -3.2 | |||
Functional Components and Equipment | Foreign | |||
4.8 | ||||
Magnetic Materials and Applications | ||||
exchange | ||||
/ Power Electronics | 0 |
Wires, Cables, and Related Products
-4.7 | 22.2 |
Revenues,
226.9 sales portfolio, etc.
Raw materials sliding-
scale price
system/price revision
-3.3
1Q, FY20211Q, FY2022
[ Adjusted | Specialty Steel Products | -1.2 | |||||
Functional Components and Equipment | Raw material prices, | ||||||
operating income ] Magnetic Materials and Applications | 2.0 | ||||||
/ Power Electronics | -0.4 | electricity, transportation | 11.8 | ||||
Wires, Cables, and Related Products | -1.4 | costs, and others | 4.1 | ||||
2.1 | (including revisions | ||||||
8.5 | of sales prices) | ||||||
-1.0 | Foreign | -1.9 | Cost reduction | ||||
Revenues, | exchange | and others | |||||
sales portfolio, etc. | |||||||
1Q, FY2021 | 1Q, FY2022 | 3 | |||||
© Hitachi Metals, Ltd. 2022 All rights reserved.
Hitachi Metals, Ltd.
Financial Results for the First Three Months
of Fiscal Year 2022 (April 1 to June 30, 2022)
[Table of Contents]
2. Operating Results by Segment
© Hitachi Metals, Ltd. 2022 All rights reserved.
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Hitachi Metals Ltd. published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 06:21:08 UTC.