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    6361   JP3166000004

EBARA CORPORATION

(6361)
  Report
Delayed Japan Exchange  -  02:00 2022-09-26 am EDT
4780.00 JPY   -4.40%
09/04Regional Fish Inc. announced that it has received ¥2.04 billion in funding from a group of investors
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08/12Ebara : Six Months Ended June 30, 2022(Financial Results) PDF(547KB)
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08/12Ebara : Six Months Ended June 30, 2022(Presentation) PDF(692KB)
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Ebara : Six Months Ended June 30, 2022(Financial Results) PDF(547KB)

08/12/2022 | 02:15pm EDT

CONSOLIDATED FINANCIAL RESULTS

FOR THE SIX MONTHS ENDED JUNE 30, 2022

IFRS

August 12, 2022

Company name:

EBARA CORPORATION

Stock exchange listings:

Tokyo

Code number:

6361

URL:

http://www.ebara.com/en/

Representative:

Masao Asami, President

Contact person:

Shugo Hosoda, Executive Officer, Corporate Strategic Planning,

Finance & Accounting Division

Tel. +81-3-3743-6111

Scheduled date for submission of quarterly report: Scheduled date for dividend payment:

Preparing supplementary material on financial results: Holding financial results presentation meeting

(for institutional investors and analysts):

August 12, 2022

September 13, 2022

Yes

Yes

(Monetary amounts are rounded down to the nearest million yen)

1. Consolidated Results for the Six Months Ended June 30, 2022

(1) Consolidated Financial Results

(% represents percentage change from a comparable previous period)

Millions of yen

Revenue

Operating Profit

Profit before Tax

Profit

Six Months Ended

312,418

14.0%

27,183

10.1%

28,177

10.5%

19,258

4.2%

June 30, 2022

Six Months Ended

274,154

11.7%

24,686

93.4%

25,502

128.4%

18,486

135.2%

June 30, 2021

Profit Attributable to

Total Comprehensive

Basic Earnings per

Basic Earnings per

Share, Diluted

Owners of Parent

Income

Share (Yen)

(Yen)

Six Months Ended

18,065

7.6%

41,739

71.6%

196.35

195.87

June 30, 2022

Six Months Ended

16,789

140.1%

24,316

381.2%

176.30

175.73

June 30, 2021

Note: The Company finalized the provisional accounting treatment for business combinations. Financial results for the six months ended June 30, 2021 reflect the finalization of the provisional accounting treatment.

(2) Consolidated Financial Position

Millions of yen

Total Equity

Ratio of Equity

Total Assets

Total Equity

Attributable to Owners

Attributable to

of Parent

Owners of Parent

As of June 30, 2022

774,959

350,863

341,262

44.0

As of December 31, 2021

719,736

321,655

312,310

43.4

―1―

2. Dividends

Dividends per Share (Yen)

End of 1st Quarter

End of 2nd Quarter

End of 3rd Quarter

Year-End

Annual

Fiscal Year Ended

50.00

113.00

163.00

December 31, 2021

Fiscal Year Ending

85.00

December 31, 2022

Fiscal Year Ending

December 31, 2022

85.00

170.00

(Forecast)

Note: Revisions to forecast of dividends in this quarter: None

3. Forecast of Financial Results for the Fiscal Year Ending December 31, 2022

% represents percentage change from the previous fiscal year

Millions of yen

Revenue

Operating Profit

Profit before Tax

Profit Attributable to

Basic Earnings per

Owners of Parent

Share (Yen)

Fiscal Year Ending

684,000

13.4%

67,500

10.0%

67,600

12.1%

46,500

6.6%

505.39

December 31, 2022

Note: Revisions to forecast of financial results in this quarter: Yes

The forecast of financial results for the fiscal year ending December 31, 2022, previously announced on May 12, 2022 has been revised. For further details, please refer to "Explanation of Forecast of Consolidated Financial Results" on page 10.

―2―

4. Other Information

  1. Changes in significant subsidiaries during the fiscal year under review (Changes in specified subsidiaries involving changes in scope of consolidation): None

Included:

()

Excluded:

()

  1. Changes in accounting policies and changes in accounting estimates
    1. Changes in accounting policies required by IFRS: None
    2. Changes in accounting policies other than (i) above: None
    3. Changes in accounting estimates: None
  2. Number of shares outstanding (Common Shares)
  1. Number of common shares (Including treasury shares)
  2. Number of treasury shares
  3. Average number of common shares

As of June 30, 2022

92,059,115

As of December 31,

95,513,633

2021

As of June 30, 2022

23,349

As of December 31,

3,536,073

2021

Six Months Ended

92,007,682

Six Months Ended

95,233,470

June 30, 2022

June 30, 2021

This quarterly financial result is exempt from quarterly review by certified public accountants or accounting firms.

Explanation of the Appropriate Use of Performance Forecast and Other Related Matters

  1. The forecast of performance and other forward-looking statements contained in this report are based on information that was available to the Company as of the time of the issuance of this report and on certain assumptions about uncertainties that may have an impact on the Group's performance. Actual performance may differ substantially from these forecast owing to a wide range of factors. For further information on the assumptions made in the preparation of the forecast of performance, please refer to "Explanation of Forecast of Consolidated Financial Results" on page 10. Readers are cautioned not to place undue reliance on these forward-looking statements which are valid only as of the date thereof.
  2. This report has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated report and the Japanese original, the original shall prevail. Also, the Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

―3―

Contents

1. Qualitative Information Regarding Consolidated Financial Results

・・・・・・・・・・・・ P.5

(1)

Explanation of Financial Results

・・・・・・・・・・・・ P.5

(2)

Explanation of Financial Position

・・・・・・・・・・・・ P.9

(3)

Explanation of Forecast of Consolidated Financial Results

・・・・・・・・・・・・ P.10

2. Condensed Consolidated Financial Statements and Primary Notes

・・・・・・・・・・・・ P.11

(1)

Condensed Consolidated Statement of Financial Position

・・・・・・・・・・・・ P.11

(2)

Condensed Consolidated Statement of Income and Condensed

・・・・・・・・・・・・ P.13

Consolidated Statement of Comprehensive Income

(3)

Condensed Consolidated Statement of Changes in Equity

・・・・・・・・・・・・ P.17

(4)

Condensed Consolidated Statement of Cash Flows

・・・・・・・・・・・・ P.19

(5)

Notes to Condensed Consolidated Financial Statements

・・・・・・・・・・・・ P.21

(Note for the Assumption of Going Concern)

・・・・・・・・・・・・ P.21

(Segment Information)

・・・・・・・・・・・・ P.21

(Additional Information)

・・・・・・・・・・・・ P.22

3. Others

・・・・・・・・・・・・ P.23

(1)

Litigation and Others

・・・・・・・・・・・・ P.23

(2)

Segment Information

・・・・・・・・・・・・ P.24

(3) Area Information

・・・・・・・・・・・・ P.26

―4―

1. Qualitative Information Regarding Consolidated Financial Results

The Company finalized the provisional accounting treatment for business combinations. Financial results for the six months ended June 30, 2021 reflect the finalization of the provisional accounting treatment.

(1) Explanation of Financial Results

Millions of yen

Six Months Ended

Six Months Ended

Change

Change Ratio (%)

June 30, 2021

June 30, 2022

Orders Received

344,927

399,415

54,487

15.8

Revenue

274,154

312,418

38,264

14.0

Operating Profit

24,686

27,183

2,496

10.1

Operating Profit on

9.0

8.7

Revenue Ratio (%)

Profit Attributable to

16,789

18,065

1,276

7.6

Owners of Parent

Basic Earnings per

176.30

196.35

20.05

11.4

Share (Yen)

During the six months ended June 30, 2022, the global economy showed signs of recovery due to the normalization of socio-economic activities in general, despite the impacts of restrictions on economic activities in some regions, including China, as countermeasures against COVID-19. In the Japanese economy as well, capital investment showed signs of recovery amid measures to curb the outbreak of COVID-19 and the normalization of socio-economic activities. On the other hand, the outlook for the domestic and overseas economies continues to be uncertain and unstable due to such factors as soaring raw material and resource prices and semiconductor lack, as well as the rapid depreciation of the yen and heightened geopolitical risks due to the Ukrainian situation. It is necessary to continue to closely monitor this situation.

In the oil and gas market, which is the Group's primary market, demand trended steadily due to rising crude oil prices and a recovery in demand from the impacts of COVID-19. Demand also recovered in the construction equipment market despite regional differences, as construction work that had been discontinued gradually resumed due to a pick-up in economic activity. In the semiconductor market, the demand remained at a high level, and customers' capital investment continued to expand. In addition, Japan's public investment related to national resilience remained firm.

Under these circumstances, orders received for the six months ended June 30, 2022 was firm in the Fluid Machinery & Systems (FMS) Business and the Precision Machinery (PM) Business. Revenues increased year on year in all businesses due to a high level of orders and so on while some negative factors existed, for example, lock-down impact such as plant shutdowns and postponement of shipments continued in some regions of China and shipment delays occurred in some PM Business products due to difficulties in procuring materials. Operating profit increased year on year as a whole, driven by higher sales in the PM Business and improved productivity at automated plants of the Components products in the PM Business, as well as by contributions from yen depreciation, despite decreases in the FMS Business and Environmental Plant Business.

As a result, consolidated orders received for the six months ended June 30, 2022 amounted to ¥399,415 million (an increase of 15.8% year-on-year), revenue amounted to ¥312,418 million (an increase of 14.0% year-on-year), operating profit amounted to ¥27,183 million (an increase of 10.1% year-on-year), and profit attributable to owners of parent amounted to ¥18,065 million (an increase of 7.6% year-on-year). All of them replaced the past highest records.

―5―

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Ebara Corporation published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 18:14:10 UTC.


© Publicnow 2022
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Sales 2022 672 B 4 656 M 4 656 M
Net income 2022 46 168 M 320 M 320 M
Net cash 2022 32 875 M 228 M 228 M
P/E ratio 2022 9,54x
Yield 2022 3,69%
Capitalization 440 B 3 048 M 3 048 M
EV / Sales 2022 0,61x
EV / Sales 2023 0,52x
Nbr of Employees 18 372
Free-Float 97,6%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 8
Last Close Price 4 780,00 JPY
Average target price 7 190,00 JPY
Spread / Average Target 50,4%
EPS Revisions
Managers and Directors
Masao Asami Managing Executive Officer & President-Electronics
Shugo Hosoda Senior Manager-Finance & Accounting
Toichi Maeda Executive Officer
Hiroshi Oeda Independent Outside Director
Hiroshi Sobukawa Senior Manager-Technology, R&D
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