Aica Kogyo : HR Results for FY2023

Aica Kogyo Co., Ltd.

H1 Results for the Fiscal Year

Ended March 31, 2024

November 24, 2023

Stock code: 4206

Table of Contents

1. H1 Results for the FY2023
2. FY2023 Full Year Forecast
3. Segment Results and Plans 3-1 Chemical Products
   3-2 Laminates & Building Materials
4. Dividends Per Share
5. Progress of Medium-Term Business Plan
   "Value Creation 3000 & 300"

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ⒸAica Kogyo Co., Ltd.

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1-1. Consolidated Financial Results

							[JPY million]
	H1 FY2022			H1 FY2023
	Results	Profit Margin	Forecast	Results	Profit Margin	YoY	vs Fcst.
Net Sales	117,704	－	119,000	113,307	－	(3.7%)	95.2%
Operating Profit	9,437	8.0%	10,000	11,406	10.1%	＋20.9%	114.1%
Ordinary Profit	10,294	8.7%	10,300	12,047	10.6%	＋17.0%	117.0%
Net Income*	6,436	5.5%	6,200	7,390	6.5%	＋14.8%	119.2%

*Profit attributable to owners of parent

[Unit per share: JPY]

Earnings per share

100.62－

96.93

115.53

－ ＋14.8% 119.2%

• Consolidated results: Record highs in operating profit, ordinary profit, and net income*
• Japanese business: High-value added products grew in the Laminates & Building Materials segment and profitability improved in the Chemical Products segment despite the stagnant construction market
• Overseas business: Profit increased in the Chemical Products segment despite the decline in sales due to lower prices and demand Laminates & Building Materials segment showed recovery in China and continued positive trend across Southeast Asia

ⒸAica Kogyo Co., Ltd.

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1-2. Historical Consolidated Results

Net Sales		Record highs in ordinary profit and net income
120,000			117,704
		113,307
		98,650	12,047
	91,848
90,000	10,502	10,156	10,294
		77,927
			7,390
60,000		6,484
6,582	6,267	6,436

3,841

30,000

H1 FY2019

H1 FY2020

H1 FY2021

H1 FY2022

H1 FY2023

Net Sales

Ordinary Profit

Net Income*

*Profit attributable to owners of parent

[JPY million] Profit

14,000

10,500

7,000

3,500

ⒸAica Kogyo Co., Ltd.

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1-3. Key Data

	H1	H1	H1
	FY2021	FY2022	FY2023
R&D Expenditure	JPY 1.64 billion	JPY 1.72 billion	JPY 1.94 billion
Depreciation	JPY 2.87 billion	JPY 3.10 billion	JPY 3.02 billion
Capital Investment	JPY 2.22 billion	JPY 4.43 billion	JPY 3.48 billion
Outstanding Debts	JPY 9.31 billion	JPY 14.52 billion	JPY 12.32 billion
Employees at FY End	4,954	4,971	5,111
(Japanese Business)	1,610	1,608	1,596

(Overseas Business)

3,344

3,363

3,515

ⒸAica Kogyo Co., Ltd.

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1-4. Results by Segment

Chemical Products

Laminates &

Building

Materials

Total

										[JPY million]
		Net Sales				Operating Profit
FY2022	FY2023	YoY	FY2023	vs Fcst.	FY2022	FY2023		YoY	FY2023	vs Fcst.
H1 Results	H1 Results	H1 Forecast	H1 Results	H1 Results		H1 Forecast
					3,783	4,225		+11.7％	3,800	111.2％	Amount
71,654	63,697	(11.1%)	72,000	88.5%
5.3%	6.6%	-	5.3％	-	Profit
					Margin
					7,459	9,090		+21.9％	8,100	112.2％	Amount
46,050	49,610	+7.7%	47,000	105.6%
16.2%	18.3%	-	17.2％	-	Profit
					Margin
			(Adjustments)	(1,804)	(1,909)	+5.8%	(1,900)	- Amount

				9,437	11,406	+20.9％	10,000	114.1％	Amount
117,704	113,307	(3.7%)	119,000	95.2%					Profit
				8.0%	10.1%	-	8.4％	－
				Margin

ⒸAica Kogyo Co., Ltd.

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1-5. Overseas Sales by Segment

					[JPY billion]
	FY2022		FY2023
	H1 Results		H1 Results
	Overseas	Overseas Sales	Overseas	YoY	Overseas Sales
	Sales	Ratio	Sales	Ratio
Chemical	53.79	75.1%	45.29	(15.8%)	71.1%
Products
Laminates &
Building	8.35	18.1%	9.47	＋13.4%	19.1%
Materials

Total

62.1452.8%

54.77(11.9%)48.3%

ⒸAica Kogyo Co., Ltd.

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1-6. Operating Profit Results for Chemical Products

[JPY million]

4,225

(70)	(34)	②

3,783

(226)①

Aica Kogyo Non-consolidated

① Pricing/raw materials cost, etc.
Raw materials cost, etc.	: (519)
Price adjustments/cost reduction	: +1,002

*Operating profit before deducting adjustments

• Overseas Groups AAPH* Group : + 16

EMC* Group : +131

*AAPH: AICA Asia Pacific Holding

*EMC: EVERMORE CHEMICAL INDUSTRY

ⒸAica Kogyo Co., Ltd.

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1-7. Operating Profit Results for Laminates & Building Materials

[JPY million] 9,090

(27)

(319)		②
	(12)

7,459

①

Aica Kogyo Non-consolidated

① Pricing/raw materials cost, etc.
Raw materials cost, etc.	: (820)
Price adjustments/cost reduction	: +1,654

*Operating profit before deducting adjustments

② Overseas Groups
Aica China*	: +337
Wilsonart (Thailand)	: +191

*Aica China: Wilsonart (Shanghai) Co., Ltd. and

Sois Mendinni Industrial Technology (Shanghai) Co., Ltd.

ⒸAica Kogyo Co., Ltd.

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Table of Contents

1. H1 Results for the FY2023
2. FY2023 Full Year Forecast
3. Segment Results and Plans 3-1 Chemical Products
   3-2 Laminates & Building Materials
4. Dividends Per Share
5. Progress of Medium-Term Business Plan
   "Value Creation 3000 & 300"

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ⒸAica Kogyo Co., Ltd.

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