Tokuyama : Releases FY2016 Results

April 28, 2017 - Tokuyama Corporation announced its consolidated results for fiscal 2016 (April 1, 2016 to March 31, 2017). Net sales amounted to ¥299.1 billion, a decrease of 3% compared with the corresponding period of the previous fiscal year. Despite a higher sales volume of semiconductor- and solar-grade polycrystalline silicon, this was largely attributable to the weak selling prices of petrochemicals on the back of a downturn in domestic naphtha prices.

Operating income increased 72% year on year to ¥39.7 billion due mainly to the improved productivity and decreased depreciation expense at Tokuyama Malaysia as well as decreased production costs as a result of the drop in raw materials and fuel prices. Profit attributable to owners of parent improved by ¥152.6 billion to ¥52.1 billion compared with the corresponding period of the previous fiscal year. This was owing mainly to improved extraordinary income/losses and posting of deferred tax assets.

Operating results by segment (year on year)
Chemicals: Higher earnings on lower sales, due mainly to weak selling price of petrochemicals on the back of downturn in domestic naphtha prices and decrease in production costs as a results of the drop in raw material and fuel prices.
Specialty Products: Higher earnings on higher sales, owing chiefly to improved productivity of Tokuyama Malaysia and higher sales volume of semiconductor-releted products.
Cement: Higher earnings on lower sales. While domestic sales volume decreased, this was attributalble to decreased production costs as a result of the drop in raw material and fuel prices.
Life & Amenity: Lower earnings on lower sales, owing chiefly to weak selling prices on the back of downturn in domestic naphtha prices and deconsolidation of Figaro Engineering Inc.