Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Consolidated Financial Results
for the Nine Months Ended December 31, 2021
(under Japanese GAAP)
February 3, 2022
Company name: | Sanyo Chemical Industries, Ltd. |
Listing: | Tokyo Stock Exchange |
Securities code: | 4471 |
URL: | https://www.sanyo-chemical.co.jp/ |
Representative: | Akinori Higuchi, President & CEO |
Inquiries: | Masaya Yamamoto, Director & Managing Executive Officer, General Manager of |
Administrative Affairs Division | |
TEL: | +81-75-541-4312 |
Scheduled date to file quarterly securities report: | February 10, 2022 |
Scheduled date to commence dividend payments: | - |
Preparation of supplementary material on quarterly financial results: | None |
Holding of quarterly financial results presentation meeting: | None |
(Figures are rounded down to the nearest million yen)
1. Consolidated financial results for the first nine months of the fiscal year ending March 31, 2022 (from April 1, 2021 to December 31, 2021)
(1) Consolidated operating results (cumulative) | (% indicates year-on-year changes) | |||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||||||||||
owners of parent | ||||||||||||||||
Nine months ended | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||
December 31, 2021 | 120,846 | 13.6 | 9,600 | 8.5 | 11,373 | 29.0 | 7,502 | 71.4 | ||||||||
December 31, 2020 | 106,332 | (9.7) | 8,850 | 1.5 | 8,814 | (4.3) | 4,377 | (26.0) | ||||||||
Note: | Comprehensive income: Nine months ended December 31, 2021 | ¥7,929 million [(12.2)%] | ||||||||||||||
Nine months ended December 31, 2020 | ¥9,032 million [69.8%] | |||||||||||||||
Basic earnings per share | Diluted earnings per | |||||||||||||||
share | ||||||||||||||||
Nine months ended | Yen | Yen | ||||||||||||||
December 31, 2021 | 340.18 | - | ||||||||||||||
December 31, 2020 | 198.56 | - | ||||||||||||||
(2) Consolidated financial position | ||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets per share | |||||||||||||
As of | Millions of yen | Millions of yen | % | Yen | ||||||||||||
December 31, 2021 | 204,957 | 146,880 | 70.5 | 6,549.77 | ||||||||||||
March 31, 2021 | 195,723 | 142,951 | 71.8 | 6,371.77 | ||||||||||||
Reference: | Equity: | As of December 31, 2021 | ¥144,484 million | |||||||||||||
As of March 31, 2021 | ¥140,474 million |
2. Cash dividends
Cash dividends per share | |||||
1Q (as of June 30) | 2Q (as of Sept. 30) | 3Q (as of Dec. 31) | 4Q (as of Mar. 31) | Total | |
Yen | Yen | Yen | Yen | Yen | |
Fiscal year ended | - | 70.00 | - | 80.00 | 150.00 |
March 31, 2021 | |||||
Fiscal year ending | - | 85.00 | - | ||
March 31, 2022 | |||||
Fiscal year ending | 85.00 | 170.00 | |||
March 31, 2022 | |||||
(Forecast) | |||||
Note: Revisions of the latest forecasts for cash dividends announced: None |
3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
(% indicates year-on-year changes) | ||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic | ||||||
earnings | ||||||||||
owners of parent | ||||||||||
per share | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | ||
Fiscal year ending | 170,000 | 17.4 | 13,500 | 13.1 | 13,500 | 12.5 | 9,000 | 23.6 | 408.07 | |
March 31, 2022 | ||||||||||
Note: Revisions of the latest forecasts for earnings announced: None |
* Notes
- Significant changes in subsidiaries during the nine months ended December 31, 2021 (changes in specific subsidiaries resulting in the change in scope of consolidation): None
-
Application of special accounting methods for the preparation of quarterly consolidated financial statements: Yes
Note: See page 10, "2. Quarterly consolidated financial statements and significant notes thereto, (4) Notes to quarterly consolidated financial statements, Application of special accounting methods for the preparation of quarterly consolidated financial statements" for more information. - Changes in accounting policies, accounting estimates, and restatements
a. | Changes in accounting policies associated with revised accounting standards, etc.: | Yes |
b. | Changes in accounting policies other than a. above: | None |
c. | Changes in accounting estimates: | None |
d. | Restatements: | None |
Note: See page 10, "2. Quarterly consolidated financial statements and significant notes thereto, (4) Notes to quarterly consolidated financial statements, Changes in accounting policies" for more information.
(4) Number of shares issued (common stock)
a. Number of shares issued at the end of the period (including treasury shares)
As of December 31, 2021 | 23,534,752 shares |
As of March 31, 2021 | 23,534,752 shares |
b. Number of treasury shares at the end of the period
As of December 31, 2021 | 1,475,253 shares |
As of March 31, 2021 | 1,488,441 shares |
- Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
For the nine months ended December 31, 2021 | 22,053,375 shares |
For the nine months ended December 31, 2020 | 22,045,652 shares |
Note: Shares of Sanyo Chemical Industries, Ltd. (the "Company") owned by the trust whose beneficiaries are directors, etc. of the Company are included in the treasury shares that are excluded in calculating the number of treasury shares at the end of the period and the average number of shares outstanding during the period.
- Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
-
Appropriate use of earnings forecasts and other special items
The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual earnings may differ significantly due to various factors. See page 4, "1. Qualitative information regarding financial results for the nine months ended December 31, 2021, (3) Information concerning future forecast such as consolidated earnings forecasts" for more information regarding the circumstances behind the assumptions used in earnings forecasts and matters to be noted when relying on earnings forecasts.
Attached Material Index | ||
1. Qualitative information regarding financial results for the nine months ended December 31, 2021 | .... 2 | |
(1) | Information regarding operating results...................................................................................................... | 2 |
(2) | Analysis of financial position ..................................................................................................................... | 4 |
(3) | Information concerning future forecast such as consolidated earnings forecasts ....................................... | 4 |
2. Quarterly consolidated financial statements and significant notes thereto ............................................. | 5 | |
(1) | Consolidated balance sheets ....................................................................................................................... | 5 |
(2) | Consolidated statements of income and consolidated statements of comprehensive income..................... | 7 |
Consolidated statements of income (cumulative) ....................................................................................... | 7 | |
Consolidated statements of comprehensive income (cumulative) .............................................................. | 8 | |
(3) | Consolidated statements of cash flows ....................................................................................................... | 9 |
(4) | Notes to quarterly consolidated financial statements................................................................................ | 10 |
Notes to going concern assumptions ........................................................................................................ | 10 | |
Notes on significant changes in the amount of shareholders' equity........................................................ | 10 | |
Application of special accounting methods for the preparation of quarterly consolidated financial | ||
statements ................................................................................................................................................. | 10 | |
Changes in accounting policies................................................................................................................. | 10 | |
Consolidated Statements of Income ......................................................................................................... | 10 | |
Segment information ................................................................................................................................ | 11 | |
3. Supplementary information....................................................................................................................... | 13 |
- 1 -
1. Qualitative information regarding financial results for the nine months ended December 31, 2021
-
Information regarding operating results
During the first nine months (April 1, 2021 to December 31, 2021) of the fiscal year ending March 31, 2022 in the Japanese economy, amid a move toward the normalization of economic activities due to progressing COVID-19 vaccinations, private consumption fluctuated, and challenging conditions continued amid factors such as the prolonged stagnation in inbound demand, despite a continued trend of increasing exports. In the global economy, although there are signs that the expansion of the Chinese economy has plateaued, in the US and Europe, the easing of restrictions on economic activities with progress in the dissemination of vaccinations led the economy to a track of recovery.
In the chemical industry, the forex market is experiencing a trend of yen depreciation mainly due to the start of reduced easing in US monetary policy, and raw material costs are rising due to higher oil prices and the recovery in demand. Amid these conditions, the business environment remains unpredictable.
Under these circumstances, net sales for the period under review increased by 13.6% year on year, to ¥120,846 million. In terms of profit, operating profit was ¥9,600 million (an increase of 8.5% year on year) mainly due to an increase in net sales, and ordinary profit was ¥11,373 million (an increase of 29.0% year on year) mainly due to an increase in share of profit of entities accounted for using equity method. Profit attributable to owners of parent was ¥7,502 million (an increase of 71.4% year on year).
- Business performance
(Millions of yen) | ||||||
Nine months | Nine months | |||||
ended | ended | Change | FY2020 | |||
December 31, | December 31, | |||||
2020 | 2021 | |||||
(Amount) | (Change) | |||||
Net sales | 106,332 | 120,846 | 14,513 | 13.6% | 144,757 | |
Operating profit | 8,850 | 9,600 | 749 | 8.5% | 11,932 | |
Ordinary profit | 8,814 | 11,373 | 2,558 | 29.0% | 11,999 | |
Profit attributable to owners | 4,377 | 7,502 | 3,124 | 71.4% | 7,282 | |
of parent | ||||||
Basic earnings per share | ¥198.56 | ¥340.18 | ¥141.62 | 71.3% | ¥330.34 | |
ROA (Return on assets*) | 6.4% | 7.6% | - | 1.2 percentage | 6.4% | |
point | ||||||
ROE (Return on equity) | 4.5% | 7.0% | - | 2.5 percentage | 5.4% | |
point | ||||||
Currency exchange (US$, | US$=¥106.11 | US$=¥111.14 | ¥5.03 | US$=¥106.11 | ||
CNY) | CNY=¥15.45 | CNY=¥17.26 | ¥1.81 | CNY=¥15.68 | ||
Naphtha price in Japan | ¥28,800/kl | ¥53,200/kl | ¥24,400/kl | ¥31,400/kl |
*ROA (Return on assets) is calculated based on ordinary profit.
Note: ROA and ROE for the nine months ended December 31, 2020 and 2021 are annualized.
- 2 -
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Sanyo Chemical Industries Ltd. published this content on 21 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2022 00:50:01 UTC.