Iwatani : Supplementary Explanation for FY20 (with scripts)
June 02, 2021 at 01:15 am EDT
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Net sales decreased by JPY51.1 billion from the previous fiscal year to JPY635.5 billion, mainly due to a decrease in sales of mainstay products for the industrial sector caused by the impact of the COVID-19, as well as low LPG import prices.
Of the JPY51.1 billion, JPY17.3 billion was negative in the Energy business, JPY10 billion of which was due to a decrease in overseas barter transactions, which are conducted for the purpose of efficient and stable LPG procurement and have no impact on profits.
Gross profit increased by JPY600 million YoY to JPY176.8 billion due to improved market factors for LPG compared to the previous year and increased sales of consumer products.
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Operating profit increased by JPY1.2 billion from the previous fiscal year to JPY29.9 billion due to a JPY600 million decrease in SG&A expenses as a result of a decrease in travel and transportation expenses due to the COVID- 19 crisis.
Profit increased in the Energy business and the Materials business due to improved market factors and increased sales of consumer products but decreased in the Industrial Gases & Machinery businesses and the Agri-Bio & Foods business due to the negative impact of the COVID-19.
Non-operating profit improved due to an increase in subsidies for the operation of hydrogen-refueling stations and subsidies for hydrogen-related projects.
Ordinary profit increased by JPY2.1 billion from the previous fiscal year to JPY34.4 billion.
Profit attributable to owners of parent increased by JPY2.2 billion from the previous fiscal year to JPY23.2 billion.
As a result, we achieved record profits in all profit categories for the second consecutive year.
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Iwatani Corporation published this content on 02 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2021 05:14:05 UTC.
IWATANI CORPORATION is a gas company. The Total Energy Division provides household, commercial and industrial liquefied petroleum gas (LPG), LPG supplying equipment, liquefied natural gas(LNG), gas products, and household kitchen appliances. The Industrial Gas and Machinery Division provides gas, helium, gas supplying equipment, welding equipment, industrial machinery and robots, pumps and compressors, as well as semiconductor and electronic parts manufacturing equipment, pharmaceutical and food machinery and environmental equipment. The Materials Division provides steel, nonferrous metals, functional films, display materials, electronic material, ceramic raw materials and biomass fuel. The Natural Industry Division provides frozen foods, health food, livestock systems, agricultural materials and equipment. The Others segment involves in finance, insurance, transportation and information processing businesses.
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