Financial Results FY2023

Nitto Denko Corporation

April 26, 2024

© Nitto Denko Corporation. All Rights Reserved.

Contents

  1. Full-yearResults for FY2023
  2. Full-yearForecasts for FY2024
  3. Supplementary Data

2

P3

P12

P16

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3

1 Full-year Results for FY2023

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Summary of Financial Results

4

Full year Results for FY2023

Revenue

915.1 B. yen

YoY

Operating

profit

139.1 B. yen

Revenue

-13.9 B. yen

(-1.5%)

Operating

profit

-8.0 B. yen

(-5.5%)

  • Revenue and operating profit of Optronics and Human Life decreased.
  • Revenue and operating profit of Industrial Tape increased.
  • Impact of yen weakness on operating profit was 24.0 B. yen.

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FY2023 Results

5

(Billion yen)

FY2022

FY2023

YoY

(Apr.-Mar.)

(Apr.-Mar.)

Dif.

%

Revenue

929.0

915.1

-13.9

-1.5%

Operating profit

147.2

139.1

-8.0

-5.5%

Operating profit to

15.8%

15.2%

-0.6%

－

revenue

Profit before

146.8

138.9

-7.9

-5.4%

income taxes

Net profit

109.2

102.7

-6.5

-5.9%

attributable to owners of

the parent company

Yen/1US$

134.7

143.9

+9.2

+6.8%

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FY2023 YoY Operating Profit Change Analysis

6

(Billion yen)

*Figures in analysis are estimates

・FY2022(Apr.-Mar.)：Reactionary increase in profit due to an impairment loss from the divestment of a

portion of the automotive materials business and loss on fire at Korean subsidiary, etc.

+8.0

・FY2023(Apr.-Mar.)：Insurance income for loss on a fire at Korean subsidiary, loss on disposition of inventory,

valuation loss on liquidating a company and impairment loss, etc.

+1.0

-8.0

FY2022:134.7 ¥/$

FY2023:143.9 ¥/$

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4Q FY2023 QoQ Operating Profit Change Analysis

7

(Billion yen) *Figures in analysis are estimates

・4Q FY2023：Impairment loss on Personal Care Materials, etc. -1.0

-21.1

3Q FY2023:149.1 ¥/$

4Q FY2023:146.9 ¥/$

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FY2023 Results by Segment

8

(Billion yen)

Upper row: Revenue

FY2022

FY2023

YoY

Lower row: Operating profit

(Apr.-Mar.)

(Apr.-Mar.)

Dif.

%

Industrial Tape*

342.9

352.2

+9.2

+2.7%

27.2

39.3

+12.1

+44.3%

Optronics*

482.4

469.9

-12.5

-2.6%

127.4

124.0

-3.5

-2.7%

Human Life*

128.6

124.5

-4.1

-3.2%

0.5

-9.5

-10.0

－

Others

0.0

0.0

-0.0

-7.0%

-3.9

-5.7

-1.8

－

Adjustment

-25.0

-31.4

-6.5

－

-4.1

-9.0

-4.9

－

Total

929.0

915.1

-13.9

-1.5%

147.2

139.1

-8.0

-5.5%

＊From FY2023, some changes have been made to reporting segments as follows.

  1. The plastic optical cable business has been transferred from Others to Optronics.
  2. Certain related business has been transferred from Human Life to Industrial Tape.
  3. Certain business included in Adjustment has been transferred to Others. Such changes have been reflected in the figures for FY2022.

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Results by Segment: Industrial Tape

9

Revenue

(Billion yen)

342.9

352.2

FY2022

FY2023

(Apr.-Mar.)

(Apr.-Mar.)

Operating profit/Operating profit to revenue

(Billion yen)

11.2%

7.9%

Revenue

352.2

B. yen

(YoY +2.7%)

Operating profit

39.3

B. yen

(YoY +44.3%)

◼ Electronics

• Demand for assembly materials for high-end smartphones increased

due to the launch of new products.

• Demand for process materials for ceramic capacitors increased after

bottoming out in 4Q FY2022.

◼ Process Materials

• Demand for semiconductor memories is gradually recovered.

◼ Others

• Demand for automotive materials increased as automotive production

27.2

39.3

recovered mainly in Japan and Europe due to the resolution of the

semiconductor shortage.

FY2022FY2023

(Apr.-Mar.)(Apr.-Mar.)

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Results by Segment: Optronics

10

Revenue

Revenue

469.9 B. yen

(YoY -2.6%)

(Billion yen)

Operating profit

124.0 B. yen

(YoY -2.7%)

Information

Circuit

Fine Materials

Materials

■Information Fine Materials

482.4

469.9

114.6

104.6

•

Demand for optical films and transparent conductive films (ITO) for

high-end laptop PCs and tablets decreased as stay-at-home demand

367.8

365.3

ended.

•

For high-end smartphones, in addition to optical films, demand for

FY2022

FY2023

Optical Clear Adhesive (OCA) and process protective films, remained

(Apr.-Mar.)

(Apr.-Mar.)

Operating profit/Operating profit to revenue

strong.

(Billion yen)

•

Mass production of optical films for Virtual Reality (VR) started in a

26.4%

26.4%

new production line.

■Circuit Materials

127.4

124.0

• In Circuit Integrated Suspension (CIS), demand for Hard Disk Drives

(HDDs) with high capacities in data centers decreased.

•

The number of models adopting the high-precision circuits for high-

FY2022

FY2023

end smartphones increased.

(Apr.-Mar.)

(Apr.-Mar.)

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Nitto Denko Corporation published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 07:21:00 UTC.