Central Glass : Notice of Differences between Consolidated Financial Results Forecast and Actual Results for the First Half Ended September 30, 2023, and Revision of Financial Results Forecast for the Fiscal Year Ending March 31, 2024（185KB）

November 6, 2023

Central Glass Co., Ltd.

Note: This document is a translation of the Japanese original for reference purposes only. In case of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from or in connection with the translation.

Notice of Differences between Consolidated Financial Results Forecast and Actual Results for the First Half Ended September 30, 2023, and Revision of Financial Results Forecast for the Fiscal Year Ending March 31, 2024

Central Glass Co., Ltd. (hereinafter called the "Company") hereby announces the differences between the consolidated financial results forecast announced on May 11, 2023 and the actual results for the first half ended September 30, 2023, as well as the revision of financial results forecast for the fiscal year ending March 31, 2024, as follows;

1. Differences between Consolidated Financial Results Forecast and Actual Results for the First Half Ended September 30, 2023 (from April 1, 2023 to September 30, 2023)

	Net sales	Operating	Ordinary profit	Profit attributable		Earnings
	profit	to owners of parent		per share
Forecast announced	Millions of yen	Millions of yen	Millions of yen	Millions of yen		Yen
May 11, 2023 (A)	83,500	4,500	5,000	4,000	161.42
Results (B)	79,115	6,010	6,305	5,672	228.92
Difference (B-A)	(4,384)	1,510	1,305	1,672
Difference (%)	(5.3%)	33.6%	26.1%	41.8%
(Reference)
Results for the first half	78,268	7,426	10,625	16,863	421.65
ended September 30, 2022

2. Revision of Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

	Net sales	Operating	Ordinary profit	Profit attributable		Earnings
	profit	to owners of parent		per share
Forecast announced	Millions of yen	Millions of yen	Millions of yen	Millions of yen		Yen
May 11, 2023 (A)	182,500	14,000	16,000	14,000	564.97
Revised forecast (B)	161,500	11,000	12,000	10,000	403.55
Difference (B-A)	(21,000)	(3,000)	(4,000)	(4,000)
Difference (%)	(11.5%)	(21.4%)	(25.0%)	(28.6%)
(Reference)	169,309	16,757	19,637	42,494	1,222.21
Results for the year ended
March 31, 2023
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3. Reasons for the revision

For the first half of the fiscal year under review, net sales were lower than those previously announced due to a decrease in sales of hydrofluoroolefin products and products related to the semiconductor industry, a decrease in sales and a decline in sales prices of fertilizer products. However, due to factors such as the penetration of price revisions for architectural glass products, accelerated shipments of pharmaceutical-related products, and increased sales of electrolytes for lithium-ion batteries, operating profit, ordinary profit and profit attributable to owners of parent increased compared to the previous announcement.

For the consolidated financial results forecast for the fiscal year under review, we expect net sales to be lower than the previously announced figures at the beginning of the current fiscal year due to a decline in sales of hydrofluoroolefin products and products related to the semiconductor industry, a decline in sales and lower sales prices of fertilizer products, as well as a slowdown in demand and lower sales prices of electrolytes for lithium- ion batteries. As a result of these reduction factors, reviewing the profit at each stage, and considering the actual results for the first half of the current fiscal year, operating profit, ordinary profit and profit attributable to owners of parent are also expected to be lower than the previously announced figures.

< Reference>

Breakdown of Net sales and Operating profit from the Table above in "2. Revision of Financial Results Forecast for the Fiscal Year Ending March 31, 2024"

		Net sales			Operating profit
	Glass	Chemicals	Total	Glass	Chemicals		Total
	Business	Business	Business	Business
	Millions of yen	Millions of yen	Millions of yen	Millions of yen	Millions of yen		Millions of yen
Forecast announced	62,500	120,000	182,500	2,000	12,000		14,000
May 11, 2023 (A)
Revised forecast (B)	61,000	100,500	161,500	2,500	8,500		11,000
Difference (B-A)	(1,500)	(19,500)	(21,000)	500	(3,500)		(3,000)

• This forecast is based on information available to the Company at the time of publication and actual results may differ from the forecast due to various factors. The Company will review these forecasts as appropriate while carefully assessing the impact of changes in the situation going forward.

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