Consolidated Financial Results
for the First Quarter of Fiscal Year Ending March 31, 2022
(Based on IFRS)
July 30, 2021 | ||
Company name: | Nippon Sanso Holdings Corporation | Stock exchange listing: Tokyo (1st section) |
TSE Code: | 4091 URL: https://www.nipponsanso-hd.co.jp/ | |
Representative: Toshihiko Hamada, Representative Director, President CEO | ||
Inquiries: | Takayoshi Umehara, General Manager, Investor Relations | |
Tel.: | +81-3-5788-8512 |
Scheduled date to file Quarterly Securities Report: August 6, 2021
Scheduled date to commence dividend payments: -
Supplementary materials on quarterly financial results: Yes
Quarterly results explanatory meeting: Yes (For institutional investors and analysts)
(Amounts less than ¥1 million are omitted)
1. Financial results for the first quarter of FYE2022 (April 1, 2021- June 30, 2021)
(1) Operating results
(Percentages indicate year-on-year change) | |||||||||||||||||
Core operating | Net income | Total comprehen- | |||||||||||||||
Revenue | Operating income | Net income | attributable to | ||||||||||||||
income | sive income | ||||||||||||||||
owners of the parent | |||||||||||||||||
(¥ million) | % | (¥ million) | % | (¥ million) | % | (¥ million) | % | (¥ million) | % | (¥ million) | % | ||||||
First quarter | 218,303 | 18.3 | 24,572 | 74.6 | 24,572 | 74.6 | 16,403 | 115.0 | 16,062 | 116.0 | 20,387 | 14.3 | |||||
of | |||||||||||||||||
FYE2022 | |||||||||||||||||
First quarter | 184,503 | (12.3) | 14,070 | (35.2) | 14,070 | (33.3) | 7,629 | (40.2) | 7,436 | (39.1) | 17,835 | ― | |||||
of | |||||||||||||||||
FYE2021 | |||||||||||||||||
(Reference) | Income before income taxes | ||||||||||||||||
First quarter of FYE2022: ¥22,202 million [93.1%] | |||||||||||||||||
First quarter of FYE2021: ¥11,495 million [(37.1%) ] | |||||||||||||||||
Core operating income is calculated as operating income excluding certain gains and expenses attributable | |||||||||||||||||
to non-recurring factors (non-recurring items). | |||||||||||||||||
Basic earnings | Diluted net income | ||||||||||||||||
per share (Yen) | per share (Yen) | ||||||||||||||||
First quarter of | 37.12 | - | |||||||||||||||
FYE2022 | |||||||||||||||||
First quarter of | 17.19 | - | |||||||||||||||
FYE2021 | |||||||||||||||||
(2) Financial position
Total assets | Total equity | Equity attributable to | Equity attributable to | |
owners of the parent | owners of the parent | |||
(¥ million) | (¥ million) | |||
(¥ million) | ratio (%) | |||
First quarter of FYE2022 | 1,842,429 | 557,316 | 526,326 | 28.6 |
(June 30, 2021) | ||||
FYE2021 | 1,836,294 | 543,900 | 513,164 | 27.9 |
(March 31, 2021) | ||||
2. Dividends
Annual Dividend | |||||
End of 1st quarter | End of 2nd | End of 3rd quarter | Term | Total | |
quarter | end | ||||
(Yen) | (Yen) | (Yen) | (Yen) | (Yen) | |
FYE2021 | - | 14.00 | - | 16.00 | 30.00 |
FYE2022 | - | ||||
FYE2022 (est.) | - | 16.00 | - | 16.00 | 32.00 |
Note: No revisions have been made to recently announced forecasts.
3. Forecasts for business operations for FYE2022 full term (April 1, 2021 - March 31, 2022)
(Percentages indicate | year-on-year change) | |||||||||||||
Core operating | Net income | Net income | Basic | |||||||||||
Revenue | Operating income | attributable to owners | earnings | |||||||||||
income | ||||||||||||||
of the parent | per share | |||||||||||||
(¥ million) | % | (¥ million) | % | (¥ million) | % | (¥ million) | % | (¥ million) | % | (Yen) | ||||
Full term | 865,000 | 5.7 | 96,000 | 10.0 | 96,500 | 8.6 | 60,000 | 5.5 | 58,200 | 5.4 | 134.49 | |||
Note: No revisions have been made to recently announced forecasts. (Reference) Income before income taxes
FYE2022 full term: ¥ 86,000 million [10.7%]
- Notes
-
Changes in significant subsidiaries during the period: None
(Transfer of specified subsidiaries resulting in changes in the scope of consolidation) - Changes in accounting policies, changes in financial forecasts
- Changes in accounting policies required by IFRS: None
- Changes in accounting policies other than 1.: None
- Changes in accounting estimates: None
- Number of outstanding shares (common shares)
1. | Number of outstanding shares at the end of | As of | 433,092,837 | As of | 433,092,837 |
the period (including treasury stock) | Jun. 30, 2021 | shares | Mar. 31, 2021 | shares | |
2. | Number of treasury stocks at the end of the | As of | 342,615 | As of | 342,332 |
period | Jun. 30, 2021 | shares | Mar. 31, 2021 | shares | |
3. | Average number of shares during the period | As of | 432,750,371 | As of | 432,753,552 |
Jun. 30, 2021 | shares | Jun. 30, 2020 | shares | ||
- Quarterly financial reports are out of the scope of audit by certified public accountants or audit corporations.
-
Explanation on the appropriate use of the forecasts of financial results and other comments
The forward-looking statements such as the forecasts of financial results stated in this document are based on the information currently available to the Company and certain assumptions that the Company judges as rational. The Company is under no obligation to guarantee their achievement. Actual financial results may vary significantly due to various reasons. For details on the assumptions of the forecasts and related matters, please see page 6, "(3) Explanation concerning predictive information such as forecasts for business operations" in "1. General information relating to the first quarter results."
NIPPON SANSO Holdings Corporation ( Ticker : 4091.T ) | ||
Consolidated Financial Performance for the first quarter of FYE2022 | ||
Contents | ||
(3) | Explanation concerning predictive information such as forecasts for business operations ....... | 6 |
2. Condensed consolidated financial statements and main notes................................................................................. | 7 | |
(1) | Condensed Consolidated Statement of Financial Position ........................................................... | 7 |
(2) Condensed Consolidated Statement of Profit or Loss and Condensed Consolidated | ||
Statement of Comprehensive Income ........................................................................................... | 9 | |
(3) | Condensed Consolidated Statement of Changes in Equity......................................................... | 11 |
(4) | Condensed Consolidated Statement of Cash Flows..................................................................... | 13 |
(5) | Notes to the Condensed Consolidated Financial Statements ..................................................... | 14 |
(Note regarding going concern assumption)................................................................................. | 14 | |
(Segment information) ................................................................................................................... | 14 |
NIPPON SANSO Holdings Corporation ( Ticker : 4091.T )
Consolidated Financial Performance for the first quarter of FYE2022
1. General information relating to the first quarter results
-
Explanation concerning business results (General overview)
In the business environment surrounding the Nippon Sanso Holdings Group (NSHD Group) in the first quarter of the fiscal year under review (from April 1, 2021 to June 30, 2021), the COVID-19 pandemic continued from the previous fiscal year, without any indication of when it might end. Nevertheless, the economy appeared to recover, mainly in Europe and the United States, and the shipment volume of air separation gases (oxygen, nitrogen, argon) increased significantly compared to the previous fiscal year. The negative impact of the COVID-19 pandemic on the first quarter revenue and core operating income has been less severe than the previous fiscal year. While there is a continuing impact on some business activities, the Company has maintained its stable supply structure for air separation gases in its global geographic hubs.
Against this backdrop, the NSHD Group achieved the following results for the first quarter of the fiscal year under review. Revenue on a consolidated basis increased 18.3% year on year to ¥218,303 million, core operating income increased 74.6% to ¥24,572 million, operating income increased 74.6% to ¥24,572 million, and net income attributable to owners of the parent increased 116.0% to ¥16,062 million.
Core operating income is calculated as operating income excluding certain gains and expenses attributable to non-recurring factors (non-recurring items).
(Overview of business performance by reportable segment)
A breakdown of business performance by reportable segment is as follows. Segment income represents core operating income.
From the first quarter of the fiscal year under review, the NSHD Group changed its reportable segments. Therefore, to facilitate the year-on-year comparisons shown below, the figures for the first quarter of the previous fiscal year have been reclassified based on the changes to the reportable segments.
-
Gas Business in Japan
In the industrial gas-related business, revenue from air separation gases, a core product, increased sharply year on year, mainly due to a general recovery in production activity in relevant industries. Meanwhile, in the electronics-related business, revenue from electronic materials gases also increased. In equipment and installation, medical-related equipment sales performed favorably, and sales in the electronics-related business also grew year on year.
As a result, in the Gas Business in Japan, revenue increased 8.0% year on year to ¥83,085 million and segment income increased 36.9% to ¥6,503 million. - Gas Business in the United States
In the industrial gas-related business, revenue from air separation gases, a core product, increased significantly year on year, mainly for bulk gases, driven by a recovery in production activity. In equipment and installation, demand for welding and cutting equipment recovered after weakness in the previous fiscal year, with sales increasing sharply. In the electronics-related business, revenue also increased.
As a result, in the Gas Business in the United States, revenue increased 15.1% year on year to ¥51,659 million and segment income increased 100.1% to ¥7,043 million.
- Gas Business in Europe
In the previous fiscal year, demand dropped sharply overall in the key regions of Iberia, Germany and Italy as the serious impact of COVID-19 caused a general halt in production activity there. However, from the second half of the previous fiscal year, demand in the region recovered gradually, leading to an increase in sales.
As a result, the Gas Business in Europe, revenue increased 35.3% year on year to ¥47,489 million and segment income increased 99.1% to ¥6,641 million.
4
NIPPON SANSO Holdings Corporation ( Ticker : 4091.T )
Consolidated Financial Performance for the first quarter of FYE2022
- Gas Business in Asia & Oceania
In the industrial gas-related business, air separation gases, a core product, saw an increase in revenue driven by a recovery in production activity in related industries. In LPG, which makes up a large portion of sales in the Australia region, sales increased from an increase in unit sales prices due to an increase in the purchasing price on steady shipment volumes. In the electronics-related business, sales increased due to improved performance in electronic material gas shipment volume in East Asia. In equipment and installation, sales increased in the electronic-related business.
As a result, in the Gas Business in Asia & Oceania, revenue increased 29.8% year on year to ¥29,271 million and segment income increased 40.8% to ¥3,035 million.
-
Thermos Business
In the Thermos Businesses, in Japan revenue increased significantly year on year due to a sharp recovery in sales of portable mugs and sports bottles. Furthermore, sales volumes of frying pans and tumblers also increased, continuing from the previous fiscal year, in connection with the widespread adoption of new lifestyles where consumer spend longer periods of time at home. Overseas, shipping volume increased due to the recovery of business conditions in various regions.
As a result, in the Thermos Business, revenue increased 36.0% year on year to ¥6,744 million, and segment income increased 143.8% to ¥1,501 million.
- Explanation concerning financial position
Total assets amounted to ¥1,842,429 million as of June 30, 2021, an increase of ¥6,134 million from March 31, 2021. Due to the impact of foreign exchange rates, total assets were stated approximately ¥10.1 billion higher than they otherwise would have been reported. This mainly reflected foreign exchange rate changes such as the yen's depreciation of ¥0.13 against the U.S. dollar and the yen's depreciation of ¥1.78 against the euro as of June 30, 2021, compared with the rates as of March 31, 2021.
[Assets]
Total current assets amounted to ¥373,816 million as of June 30, 2021, an increase of ¥4,914 million from March 31, 2021, mainly reflecting increases in trade receivables and inventories, and a decrease in cash and cash equivalents.
Total non-current assets were ¥1,468,613 million, an increase of ¥1,219 million from March 31, 2021, mainly reflecting an increase in goodwill and a decrease in property, plant and equipment.
[Liabilities]
Total current liabilities were ¥335,778 million, an increase of ¥9,758 million from March 31, 2021, mainly reflecting an increase in bonds and borrowings and a decrease in income taxes payable.
Total non-current liabilities were ¥949,334 million, a decrease of ¥17,039 million from March 31, 2021, mainly reflecting a decrease in bonds and borrowings and an increase in deferred tax liabilities.
[Equity]
Total equity amounted to ¥557,316 million, an increase of ¥13,416 million from March 31, 2021. The main changes were an increase due to the recording of net income attributable to owners of the parent, a decrease in retained earnings paid as dividends, and an increase in exchange differences on translation of foreign operations.
The equity attributable to owners of the parent ratio stood at 28.6%, up 70 basis points from the previous fiscal year-end.
(Cash flow analysis)
(Cash flow from operating activities)
Net cash provided by operating activities amounted to ¥24,843 million. The main components were profit before income taxes, depreciation and amortization, and income taxes refund (paid).
(Cash flow from investing activities)
Net cash used in investing activities was ¥16,739 million. The main use of cash was for the purchase of property, plant and equipment.
5
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Nippon Sanso Holdings Corporation published this content on 20 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2021 06:03:07 UTC.