Consolidated Financial Summary (Japanese Accounting Standards)
(For the nine months ended December 31, 2021)
January 26, 2022 | |
Listed company: Shin-Etsu Polymer Co., Ltd. | |
Listing code: | No. 7970 (URL https://www.shinpoly.co.jp/en/) |
Listing stock exchange: | Tokyo |
Representative: | Yoshiaki Ono, President, Chief Executive Officer |
Person to contact: | Osamu Kowada, Executive Officer, General Manager of Accounting & Finance Department |
TEL: +81-3-5289-3716 |
Scheduled date to submit the Quarterly Securities Report: | February 10, 2022 |
Scheduled date of dividend payout: | - |
Supplementary documents for quarterly results: | None |
Quarterly results briefing: | None |
(Amounts under a million yen are truncated.) |
1. Consolidated Financial Highlights for the First Nine Months of the Fiscal Year Ending March 31, 2022 (April 1, 2021 to December 31, 2021)
(1) Consolidated Financial Results | (The percentages indicate the rates of increase or decrease compared with the preceding fiscal year.) | ||||||||||||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||||||||||||
owners of parent | |||||||||||||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||||||||||
April - December 31, 2021 | 68,888 | 23.5 | 7,456 | 59.9 | 7,709 | 61.1 | 5,647 | 62.4 | |||||||||||
April - December 31, 2020 | 55,782 | (8.1) | 4,663 | (20.2) | 4,785 | (24.3) | 3,477 | (26.6) | |||||||||||
(Note) Comprehensive income (loss): December 31, 2021: ¥7,994 million (210.8%); December 31, 2020: ¥2,572 million (-21.0%) | |||||||||||||||||||
Basic earnings | Diluted earnings | ||||||||||||||||||
per share | per share | ||||||||||||||||||
Yen | Yen | ||||||||||||||||||
April - December 31, 2021 | 69.90 | 69.68 | |||||||||||||||||
April - December 31, 2020 | 43.00 | 42.93 | |||||||||||||||||
(2) Consolidated Financial Position | |||||||||||||||||||
Total assets | Net assets | Equity ratio | |||||||||||||||||
Million yen | Million yen | % | |||||||||||||||||
As of December 31, 2021 | 120,370 | 92,360 | 76.4 | ||||||||||||||||
As of March 31, 2021 | 108,212 | 86,677 | 79.8 | ||||||||||||||||
(Reference) Equity capital: December 31, 2021: ¥91,999 million; March 31, 2021: ¥86,362 million | |||||||||||||||||||
2. Dividends | |||||||||||||||||||
Dividend per share | |||||||||||||||||||
First quarter | Second quarter | Third quarter | Year-end | Annual | |||||||||||||||
Yen | Yen | Yen | Yen | Yen | |||||||||||||||
March 2021 | - | 9.00 | - | 11.00 | 20.00 | ||||||||||||||
March 2022 | - | 12.00 | - | ||||||||||||||||
March 2022 | 12.00 | 24.00 | |||||||||||||||||
(forecast) | |||||||||||||||||||
(Note) Revisions to dividend forecasts published most recently: No |
3. Consolidated Financial Forecasts for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March 31, 2022)
(The percentages indicate the year-on-year change.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | |||||
owners of parent | per share | ||||||||
Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen | |
Full year | 86,000 | 11.8 | 8,800 | 21.9 | 9,000 | 28.2 | 6,400 | 41.1 | 79.11 |
(Note) Revisions to financial forecasts published most recently: No
* Notes
(1) Any changes in important subsidiaries during the nine months ended December 31, 2021 (any changes in specific subsidiaries accompanied by a change in the scope of consolidating): None
Newly added: None | , Eliminated: None |
- Adoption of accounting treatment unique to the preparation of quarterly consolidated financial statements: None
-
Any changes in accounting policies and changes or restatement of accounting estimates
1. Changes in accounting policies associated with the revision of accounting standards, etc.: Yes
2. | Changes in accounting policies other than the above: | None |
3. | Changes in accounting estimates: | None |
4. | Restatement: | None |
(Note) For details, please refer to 2. Consolidated Quarterly Financial Statements and Key Notes, (3) Explanatory Notes to Consolidated Financial Statements (Changes in Accounting Policies) on page 9 of the Accompanying Materials.
(4) Number of shares issued (common stock) | |||
1. | Number of shares issued as of the term end (including treasury shares): | December 2021 | 82,623,376 shares |
March 2021 | 82,623,376 shares | ||
2. | Number of treasury shares as of the term end: | December 2021 | 2,192,189 shares |
March 2021 | 1,727,742 shares | ||
3. | Average number of shares during the term: | December 2021 | 80,794,815 shares |
December 2020 | 80,886,211 shares |
The consolidated financial summary is not included in the scope of the quarterly review by certified public accountants or audit corporations.
Statement regarding the proper use of financial forecasts and other special remarks
The forward-looking statements, such as results forecasts, included in this document are based on information currently available to the Company and certain assumptions considered reasonable, and the Company makes no representations as to their achievability. Actual results may differ materially, depending on a range of factors.
Accompanying Materials - Contents | ||
1. Qualitative Information on Consolidated Results, etc. for the Nine-Month Period Ended | ||
December 31, 2021............................................................................................................................... | 2 | |
(1) | Qualitative Information on Consolidated Results .................................................................................. | 2 |
(2) | Explanation of Information on Future Forecasts Such as Consolidated Financial Forecasts ................ | 3 |
2. Consolidated Quarterly Financial Statements and Key Notes.............................................................. | 4 | |
(1) | Consolidated Balance Sheet................................................................................................................... | 4 |
(2) | Consolidated Statements of Income and Consolidated Statement of Comprehensive Income .............. | 6 |
(3) | Explanatory Notes to Consolidated Financial Statements ..................................................................... | 8 |
(Notes on the Premise of a Going Concern) .......................................................................................... | 8 | |
(Notes on Significant Changes in Shareholders' Equity (if any)).......................................................... | 8 | |
(Changes in the Scope of Consolidation or the Scope of Equity Method Application)......................... | 8 | |
(Changes in Accounting Policies).......................................................................................................... | 9 | |
(Segment Information)......................................................................................................................... | 10 |
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1. Qualitative Information on Consolidated Results, etc. for the Nine-Month Period Ended December 31, 2021
(1) Qualitative Information on Consolidated Results
During the nine-month period ended December 31, 2021, signs of a recovery continued to spread, but the sense of uncertainty about the global economic outlook increased, given factors such as the recurrent spread of COVID-19, steep rises in the prices of raw materials, and the insufficient supply of semiconductors. In the United States, employment recovered, and consumer spending also gained strength. In Europe, business was generally weak, albeit with a recovery. In Asia, the Chinese economy continued to recover. However, recovery slowed in India and ASEAN countries due to COVID-19's recurred spread.
In the Japanese economy, corporate capital expenditure, production and exports picked up. However, more time appears necessary for a full-scale economic recovery as weak consumer spending demonstrates.
The Group's business environment remained favorable overall, reflecting continued demand expansion in semiconductor and electronics component industries and demand recovery in the automotive sector.
In this operating environment, the Group took steps to control the spread of the coronavirus while also continuing activities to boost sales of both key products and new businesses in Japan and overseas and working to expand the production/supply systems as well. The Group also strengthened the food wrapping film business through M&A.
As a result, consolidated net sales stood at ¥68,888 million (up 23.5% year on year). Operating profit amounted to ¥7,456 million (up 59.9% year on year), ordinary profit was ¥7,709 million (up 61.1% year on year), and profit attributable to owners of parent stood at ¥5,647 million (up 62.4% year on year) for the nine months under review.
Consolidated results by segment are as follows.
1) Electronic Devices segment
In the Electronic Devices segment, overall sales were substantially higher than the year-ago level, reflecting strong shipments particularly of automotive input devices, supported by demand recovery in the automotive sector.
Overall sales for input devices increased substantially attributable to the recovered shipments of mainstay automotive key switches and the strong shipments of touchpads for slim notebook personal computers.
Overall sales for display-related products expanded significantly thanks to the strong shipments of LCD connectors and view/light path control film (VCF).
Sales for component-related products grew sharply, reflecting the strong shipments of electronic-part testing connectors.
As a result, segment sales stood at ¥16,650 million (up 30.6% year on year) and operating profit was ¥1,007 million (up 327.8% year on year).
2) Precision Molding Products segment
In the Precision Molding Products segment, overall sales far surpassed the year-ago level, supported by shipments of semiconductor-related containers and carrier tape-related products which remained favorable. Sales for semiconductor-related containers grew sharply, reflecting strong shipments of 300-mm wafer shipping containers and other products with lively demand in the semiconductor industry in the background.
Sales of office automation equipment increased due to the recovery in shipments of rollers for laser printers, which are mainstay products.
Sales of carrier tape-related products grew substantially, reflecting continued strong demand for electronic components for automobiles and smartphones.
Overall sales of silicone rubber molded products were roughly the same as the previous year because the sales of mainstay medical equipment showed slow growth.
As a result, segment sales stood at ¥31,087 million (up 24.0% year on year) and operating profit was ¥5,552 million (up 43.9% year on year).
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3) Housing & Living Materials segment
In the Housing & Living Materials segment, the Company revised prices, increased production efficiency, promoted M&A, and expanded the sales of products in new business categories in the extremely difficult market environment for PVC products. Overall sales for the segment rose significantly from the previous fiscal year, supported by a recovery in demand for food packing materials and automotive-related materials.
Sales of packing materials such as wrapping films increased significantly, reflecting firm shipments to supermarkets and the consolidation of Kitche Nista Co., Ltd.
Sales of PVC pipes and related products were sluggish due to weak domestic demand.
Functional compounds rose significantly, reflecting a recovery in demand for those for robot cables and for automobiles and an increase in sales to new customers.
Sales for exterior materials decreased due to weak sales to existing customers.
Sales for conductive polymer rose sharply, reflecting increased orders for display and automotive electronic components.
As a result, segment sales stood at ¥15,943 million (up 21.2% year on year) and operating profit was ¥669 million (up 82.5% year on year).
4) Others segment
Overall sales from the construction business grew year on year with increases in orders for projects for building and renovating commercial facilities, particularly in Tokyo and neighboring areas, and projects for finishing the interior of public facilities.
As a result, segment sales amounted to ¥5,206 million (up 8.7% year on year) and operating profit was ¥227 million (up 12.4% year on year).
(2) Explanation of Information on Future Forecasts Such as Consolidated Financial Forecasts
Consolidated financial forecasts for the fiscal year ending March 31, 2022 published on July 26, 2021 remain unchanged.
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Shin-Etsu Polymer Co. Ltd. published this content on 28 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2022 02:35:03 UTC.