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    4063   JP3371200001

SHIN-ETSU CHEMICAL CO., LTD.

(4063)
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Shin Etsu Chemical : Consolidated

04/28/2021 | 04:11am EDT

Press Release

Consolidated Financial Results for the Fiscal Year Ended March 31, 2021

Shin-Etsu Chemical Co., Ltd.

(JP GAAP)

April 28, 2021

Listing Code: No. 4063 (URL: https://www.shinetsu.co.jp/en/)

Listing Stock Exchange: Tokyo and Nagoya

Representative: Yasuhiko Saitoh (Mr.) Representative Director/President

Personnel to contact: Toshiyuki Kasahara (Mr.) Director, General Manager of Finance & Accounting Department

Tel: +81-3-3246-5051

Date of the annual shareholders' meeting

……

June 29, 2021

Date of the filing of the consolidated financial statements

……

June 30, 2021

Date of year-end dividend payment

……

June 30, 2021

Preparation of supplemental explanatory materials: Yes ("Appendix" is attached.)

Holding of financial results meeting: Yes (for investment analysts and institutional investors)

Amounts are stated in millions of yen by discarding fractional amounts less than 1 million.

Percentage figures indicate increase (decrease) over previous fiscal year.

1. Consolidated Operating Performance for the Fiscal Year Ended March 31, 2021

(From April 1, 2020 to March 31, 2021)

(1) Results of consolidated operations

(Millions of yen)

Net sales

Operating income

Ordinary income

Net income attributable to

owners of parent

April 2020 - March 2021

1,496,906

(3.0%)

392,213

(3.4%)

405,101

(3.1%)

293,732

(6.5%)

April 2019 - March 2020

1,543,525

(3.2%)

406,041

0.6%

418,242

0.7%

314,027

1.6%

(Note) Comprehensive income (Millions of yen) April 2020 - March 2021: 262,230 [(8.6%) ]

April 2019 - March 2020: 286,889 [ 2.5% ]

Net income

Diluted net

Ratio of net income

Ratio of ordinary

Ratio of

per share

income per

to stockholders'

income to total

operating income

(yen)

share (yen)

equity

assets

to net sales

April 2020 - March 2021

706.76

706.26

10.7%

12.3%

26.2%

April 2019 - March 2020

755.17

755.01

12.3%

13.3%

26.3%

(Note) Equity in earnings

(losses) of affiliates (Millions of yen) April 2020 - March 2021: 5,364

(2) Consolidated financial position

April 2019 - March 2020: 4,327

(Millions of yen)

Total assets

Net assets

Stockholders'

Net assets per share

equity ratio

(yen)

March 31, 2021

3,380,615

2,886,625

83.2%

6,769.72

March 31, 2020

3,230,485

2,723,141

82.1%

6,377.93

(Note) Stockholders' equity

(Millions of yen)

As of

March 31, 2021: 2,813,137

As of March 31, 2020: 2,652,309

(3) Consolidated cash flows

(Millions of yen)

Cash flows from

Cash flows from

Cash flows from

Cash and cash

equivalents at the end of

operating activities

investing activities

financing activities

fiscal year

April 2020 - March 2021

401,176

(250,719)

(91,123)

801,596

April 2019 - March 2020

412,384

(394,547)

(94,055)

745,125

2. Cash Dividends

Cash dividends per share

Total annual cash

Dividend

Ratio of

for the fiscal year (yen)

dividend paid

payout

dividend payout

1st

2nd

3rd

Year-

Fiscal

(Millions of yen)

ratio

to net assets

quarter

quarter

quarter

end

year

April 2019 - March 2020

-

110.00

-

110.00

220.00

91,473

29.1%

3.6%

April 2020 - March 2021

-

110.00

-

140.00

250.00

103,853

35.4%

3.8%

3. Forecast of Consolidated Operating Performance for the Fiscal Year Ending March 31, 2022

(From April 1, 2021 to March 31, 2022)

We will promptly make an announcement of the consolidated business and cash dividends forecast as soon as the disclosure of the forecast becomes possible.

(Notes)

(1) Changes in significant subsidiaries which affected the scope of consolidation during the current fiscal year: No

(2) Changes of accounting policies applied, changes in accounting estimates and retrospective restatement

Changes of accounting policies applied due to revisions of accounting standards: No

Changes of accounting policies other than the above: No

Changes in accounting estimates: No

Retrospective restatement: No

(3) Number of shares outstanding (common stock)

March 31, 2021

March 31, 2020

Number of shares outstanding at the year end

416,662,793

416,662,793

Number of shares of treasury stock at the year end

1,115,572

805,396

Weighted-average number of shares

April 2020 - March 2021

April 2019 - March 2020

415,602,349

415,838,457

outstanding over the year

(Reference) Summary of Non-consolidated Financial Results

Non-consolidated Operating Performance for the Fiscal Year Ended March 31, 2021

(From April 1, 2020 to March 31, 2021)

(1) Results of non-consolidated operations

(Millions of yen)

Net sales

Operating income

Ordinary income

Net income

April 2020 - March 2021

829,065

(1.9%)

137,341

(7.0%)

160,800

(3.9%)

118,910

(9.8%)

April 2019 - March 2020

845,356

2.8%

147,639

13.6%

167,412

24.2%

131,836

35.4%

Net income per share

Diluted net income

(yen)

per share (yen)

April 2020 - March 2021

286.12

285.92

April 2019 - March 2020

317.04

316.98

(2) Non-consolidated financial position

(Millions of yen)

Total assets

Net assets

Stockholders' equity

Net assets per share

ratio

(yen)

March 31, 2021

1,199,772

856,040

71.2%

2,055.94

March 31, 2020

1,156,255

821,894

70.9%

1,972.36

(Note) Stockholders' equity

(Millions of yen)

As of

March 31, 2021: 854,340

As of March 31, 2020: 820,220

Stockholders' equity used for the calculation of indices is net assets excluding share subscription rights.

(Information regarding audit procedures)

The financial information contained in this report is not subject to the audit procedures by independent auditors.

Shin-Etsu Chemical Co., Ltd. (4063)

Fiscal Year Ended March 31, 2021

(Attached Documents)

INDEX

1. Results of Operations and Financial Overview .....................................................................................

2

(1) Results of Operations and Financial Position Overview..................................................................

2

(2) Business Prospects .........................................................................................................................

12

(3) Management Policies.......................................................................................................................

12

2. Basic Approach to the Selection of Accounting Standards .................................................................

13

3. Consolidated Financial Statements......................................................................................................

14

(1) Consolidated Balance Sheets .........................................................................................................

14

(2) Consolidated Statements of Income and Statements of Comprehensive Income ..........................

16

(3) Consolidated Statements of Changes in Net Assets.......................................................................

18

(4) Consolidated Statements of Cash Flows ........................................................................................

20

(5) Notes to Consolidated Financial Statements..................................................................................

21

(Notes on Premise of Going Concern)........................................................................................

21

(Segment Information)................................................................................................................

21

(Per Share Information) ..............................................................................................................

23

(Major Subsequent Events).........................................................................................................

23

(Appendix)

1.

Quarterly Operating Results .........................................................................................................

24

2.

Capital Expenditures and Depreciation and Amortization ...........................................................

25

3.

Operating Performance of Shintech Inc........................................................................................

25

4.

Other Financial Items (Consolidated) ...........................................................................................

26

5.

Comparative Balance Sheets (Consolidated) ................................................................................

26

6.

Cash Dividends per Share ............................................................................................................

27

7.

Sales by Region ............................................................................................................................

27

8.

Assets by Segments ......................................................................................................................

28

9.

Average Exchange Rate ...............................................................................................................

28

10. Topics ...........................................................................................................................................

29

11. Capital Investments ......................................................................................................................

29

1

Shin-Etsu Chemical Co., Ltd. (4063)

Fiscal Year Ended March 31, 2021

1. Results of Operations and Financial Overview

(1) Results of Operations and Financial Position Overview

1) General Overview

During the fiscal year ended March 31, 2021 (April 1, 2020 to March 31, 2021), demand recovered to varying degrees depending on the region and industry, after a downturn caused by worldwide restrictions on economic activities in the April to June quarter. Demand and market conditions recovered in our major business fields in the October to December quarter. Since then, demand and market conditions have generally improved. In March 2021, the U.S. government enacted the Covid 19 Economic Stimulus Package amounting to US$ 1.9 trillion and the U.S. Federal Reserve confirmed that it would continue monetary easing toward full employment. Meanwhile, the Chinese government decided to renew its five-year plan and take flexible measures for economic growth. The Shin-Etsu Group focused on business requirements such as maintaining high operating rates, ensuring a stable product supply, and preserving receivables, while giving top priority to the health and safety of our employees. Communicating closely with our customers, we promoted the development of products that are of value to our customers, and provided a stable supply of products of unwavering quality. In addition, we carried out the capital investment projects as scheduled.

As a result, the business results for the fiscal year ended March 31, 2021 are as follows.

(Billions of yen)

Fiscal year

Fiscal year

Increase

Quarterly

19/4 - 20/3

20/4 - 21/3

(Decrease)

Apr-Jun

Jul-Sep

Oct-Dec

Jan-Mar

Net sales

1,543.5

1,496.9

(3.0%)

359.3

351.1

379.8

406.4

(46.6)

Operating income

406.0

392.2

(3.4%)

90.9

93.3

100.7

107.1

(13.8)

Ordinary income

418.2

405.1

(3.1%)

95.2

97.0

100.8

112.0

(13.1)

Net income attributable

314.0

293.7

(6.5%)

69.3

70.9

73.0

80.4

to owners of parent

(20.3)

ROIC

19.4%

17.2%

( 2.2points)

ROE

12.3%

10.7%

( 1.6points)

ROA

13.3%

12.3%

( 1.0points)

Per Share (Yen)

Net income

755

707

(48)

Cash dividends

220

(Forecast) 250

30

Notes: ROIC: Return on invested capital

Net operating income after tax / (Net assets + Interest-bearing liabilitiesCash)

  • ROE: Return (Net income) on equity

Equity used for this calculation is net assets excluding both share subscription rights and non-controlling interests in consolidated subsidiaries.

    • ROA: Return (Ordinary income) on total assets.
  • Amounts are stated in billions of yen by discarding fractional amounts less than 0.1 billion on this summary.

2

Shin-Etsu Chemical Co., Ltd. (4063)

Fiscal Year Ended March 31, 2021

2) Business Segment Overview

Net sales and Operating income by Segment

(Billions of yen)

Net sales

Operating income

Fiscal year

Fiscal year

Increase

Fiscal year

Fiscal year

Increase

19/4 - 20/3

20/4 - 21/3

(Decrease)

19/4 - 20/3

20/4 - 21/3

(Decrease)

PVC/Chlor-Alkali Business

484.3

469.7

(3.0%)

92.1

97.0

5.3%

(14.6)

4.9

Silicones Business

226.8

208.3

(8.2%)

61.4

45.1

(26.6%)

(18.5)

(16.3)

Specialty Chemicals Business

114.7

112.6

(1.9%)

27.7

21.8

(21.3%)

(2.1)

(5.9)

Semiconductor Silicon

387.6

374.0

(3.5%)

143.2

144.1

0.6%

Business

(13.6)

0.9

Electronics & Functional

225.1

234.8

4.3%

68.5

70.2

2.6%

Materials Business

9.7

1.7

Processing, Trading &

104.7

97.2

(7.2%)

14.8

14.3

(3.1%)

Specialized Services Business

(7.5)

(0.5)

Total

1,543.5

1,496.9

(3.0%)

406.0

392.2

(3.4%)

(46.6)

(13.8)

Processing, Trading &

Processing, Trading &

Specialized Services

Specialized Services

6%

3%

Electronics &

Electronics &

Functional

PVC/

Functional

PVC/

Materials

Chlor-Alkali

Materials

18%

25%

16%

Chlor-Alkali

Net

31%

Operating

sales

income

1,496.9

392.2

Silicones

Semiconductor

Billions of yen

Billions of yen

11%

Silicon

Semiconductor

25%

Silicones

Silicon

37%

14%

Specialty

Specialty

Chemicals

Chemicals

6%

8%

3

Disclaimer

Shin-Etsu Chemical Co. Ltd. published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2021 08:10:07 UTC.


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