Toagosei : Financial Results for 2Q FY2023 (2.40MB)
August 09, 2023
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Financial Results for
2Q FY2023
August 9, 2023
Table of Contents
1.
Results for 2Q FY2023
P.2-
2.
Results Forecast for FY2023
P.11-
3.
Topics
P.22-
4.
Toagosei Group's Initiatives to
P.29-
Improve Our Price-to-Book Ratio
(PBR)
5.
Appendix
P.36-
1
Results for 2Q FY2023
2
Summary of Financial Results for 2Q FY2023
Business Environment
Interest rates were raised to combat inflation in Europe and the U.S. Meanwhile, monetary easing continued in Japan to ease inflation. The pace of recovery in the Chinese economy slowed.
It become possible to see a movement to reorganize supply chains due to decoupling because of the power struggle between the U.S. and China.
The sense of an economic slowdown in the manufacturing industry is also becoming more intense in Europe and the U.S. Against this background, the operating efficiency of production equipment for basic materials such as ethylene has remained low over a long period of time.
Overview of Financial Results for 2Q FY2023
Commodity chemicals and other segments located upstream of a wide range of fields were greatly affected by the Japanese and overseas economies. That led to overall decline in shipment volume.
Sales increased for developed products including products for automotive batteries and medical care products.
Net sales, operating income, ordinary income and net income attributable to owners of parent declined in 2Q FY2023 in a year-on-year comparison.
3
Overview of Results for 2Q FY2023
2Q FY2022
2Q FY2023
Change
Rate of
Change
Net sales
(Millions of yen)
77,977
76,947
(1,030)
(1.3%)
Operating income
(Millions of yen)
7,891
4,746
(3,145)
(39.9%)
Operating income ratio
10.1%
6.2%
(4.0P)
-
Ordinary income
(Millions of yen)
9,387
6,172
(3,214)
(34.2%)
Net income attributable
(Millions of yen)
7,391
5,469
(1,921)
(26.0%)
to owners of parent
Net income per share
(Yen)
59.36
45.71
(13.65)
(23.0%)
Interim dividend [annual
(Yen)
18.0
20.0
2
+11.1%
dividend] (the values for
[36.0]
[40.0]
[4]
[+11.1%]
2023 are a forecast)
Note: We have changed our scope of consolidation. We added Toagosei (Shanghai) Management Co., Ltd. from 2Q FY2023 (19 consolidated subsidiaries and 2 equity-method affiliates).
4
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Disclaimer
Toagosei Co. Ltd. published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2023 07:31:04 UTC.
TOAGOSEI CO., LTD. is a Japan-based company mainly engaged in the chemicals business and polymer and oligomer businesses. The Company operates through five business segments. The Basic Chemicals segment manufactures and sells sodium hydroxide, sodium hydroxide, sodium hypochlorite, sulfuric acid, industrial gases, and acrylic acid esters. The Polymer and Oligomer segment manufactures and sells acrylic polymers, polymer flocculants, and photo-curable resins. The Resin Processing Products segment manufactures and sells plumbing equipment products, building materials and civil engineering products, life support products, and elastomer compounds. The Adhesive Materials segment manufactures and sells instant adhesives and functional adhesives. The Advanced Inorganic Materials segment manufactures and sells high-purity inorganic chemicals and inorganic functional materials. It is also engaged in new products research and development business, transportation and trading company business.