EBARA CORPORATION CONSOLIDATED FINANCIAL RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2023
〔IFRS〕 | |
August 14, 2023 | |
Company name: | EBARA CORPORATION |
Stock exchange listings: | Tokyo |
Code number: | 6361 |
URL: | http://www.ebara.com/en/ |
Representative: | Masao Asami, Representative Executive Officer, CEO & COO |
Contact person: | Shugo Hosoda, Executive Officer, Division Executive, Corporate Strategic Planning, |
Finance and Accounting Division & CFO | |
Tel. +81-3-3743-6111
Scheduled date for submission of quarterly report: Scheduled date for dividend payment:
Preparing supplementary material on financial results: Holding financial results presentation meeting
(for institutional investors and analysts):
August 14, 2023
September 13, 2023
Yes
Yes
(Monetary amounts are rounded down to the nearest million yen)
1. Consolidated Results for the Six Months Ended June 30, 2023
(1) Consolidated Financial Results
(% represents percentage change from a comparable previous period) | Millions of yen | |||||||||
Revenue | Operating Profit | Profit before Tax | Profit | |||||||
Six Months Ended | 363,833 | 16.5% | 33,766 | 24.2% | 34,085 | 21.0% | 22,397 | 16.3% | ||
June 30, 2023 | ||||||||||
Six Months Ended | 312,418 | 14.0% | 27,183 | 10.1% | 28,177 | 10.5% | 19,258 | 4.2% | ||
June 30, 2022 | ||||||||||
Profit Attributable to | Total Comprehensive | Basic Earnings per | Basic Earnings per | |||||||
Share, Diluted | ||||||||||
Owners of Parent | Income | Share (Yen) | ||||||||
(Yen) | ||||||||||
Six Months Ended | 20,583 | 13.9% | 34,189 | (18.1)% | 223.37 | 222.98 | ||||
June 30, 2023 | ||||||||||
Six Months Ended | 18,065 | 7.6% | 41,739 | 71.6% | 196.35 | 195.87 | ||||
June 30, 2022 | ||||||||||
(2) Consolidated Financial Position
Millions of yen | ||||
Total Equity | Ratio of Equity | |||
Total Assets | Total Equity | Attributable to Owners | Attributable toOwners | |
of Parent | of Parent | |||
As of June 30, 2023 | 852,707 | 392,722 | 382,333 | 44.8 |
As of December 31, 2022 | 828,049 | 369,725 | 359,966 | 43.5 |
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2. Dividends
Dividends per Share (Yen) | ||||||
End of 1st Quarter | End of 2nd Quarter | End of 3rd Quarter | Year-End | Annual | ||
Fiscal Year Ended | － | 85.00 | － | 108.00 | 193.00 | |
December 31, 2022 | ||||||
Fiscal Year Ending | － | |||||
December 31, 2023 | ||||||
Fiscal Year Ending | ||||||
December 31, 2023 | 97.50 | － | 97.50 | 195.00 | ||
(Forecast) | ||||||
Note: Revisions to forecast of dividends in this quarter: None
3. Forecast of Financial Results for the Fiscal Year Ending December 31, 2023
% represents percentage change from the previous fiscal year | Millions of yen | |||||||||
Revenue | Operating Profit | Profit before Tax | Profit Attributable to | Basic Earnings per | ||||||
Owners of Parent | Share (Yen) | |||||||||
Fiscal Year Ending | 747,000 | 9.7% | 71,000 | 0.6% | 71,200 | 2.5% | 52,300 | 3.6% | 567.57 | |
December 31, 2023 | ||||||||||
Note: Revisions to forecast of financial results in this quarter: None
The forecast of financial results for the fiscal year ending December 31, 2023, previously announced on May 15, 2023 has been revised. For further details, please refer to "Explanation of Forecast of Consolidated Financial Results" on page 10.
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4. Other Information
- Changes in significant subsidiaries during the fiscal year under review (Changes in specified subsidiaries involving changes in scope of consolidation): None
Included: | － | (－) |
Excluded: | － | (－) |
- Changes in accounting policies and changes in accounting estimates
- Changes in accounting policies required by IFRS: None
- Changes in accounting policies other than (i) above: None
- Changes in accounting estimates: None
- Number of shares outstanding (Common Shares)
- Number of common shares (Including treasury shares)
- Number of treasury shares
- Average number of common shares
As of June 30, 2023 | 92,340,882 | As of December 31, | 92,086,015 |
2022 | |||
As of June 30, 2023 | 25,527 | As of December 31, | 24,422 |
2022 | |||
Six Months Ended | 92,147,870 | Six Months Ended | 92,007,682 |
June 30, 2023 | June 30, 2022 | ||
This quarterly financial result is exempt from quarterly review by certified public accountants or accounting firms.
Explanation of the Appropriate Use of Performance Forecast and Other Related Matters
- The forecast of performance and other forward-looking statements contained in this report are based on information that was available to the Company as of the time of the issuance of this report and on certain assumptions about uncertainties that may have an impact on the Group's performance. Actual performance may differ substantially from these forecast owing to a wide range of factors. For further information on the assumptions made in the preparation of the forecast of performance, please refer to "Explanation of Forecast of Consolidated Financial Results" on page 10. Readers are cautioned not to place undue reliance on these forward-looking statements which are valid only as of the date thereof.
- This report has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated report and the Japanese original, the original shall prevail. Also, the Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
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Contents | ||
1. Qualitative Information Regarding Consolidated Financial Results | ・・・・・・・・・・・・ P.5 | |
(1) | Explanation of Financial Results | ・・・・・・・・・・・・ P.5 |
(2) | Explanation of Financial Position | ・・・・・・・・・・・・ P.9 |
(3) | Explanation of Forecast of Consolidated Financial Results | ・・・・・・・・・・・・ P.10 |
2. Condensed Consolidated Financial Statements and Primary Notes | ・・・・・・・・・・・・ P.11 | |
(1) | Condensed Consolidated Statement of Financial Position | ・・・・・・・・・・・・ P.11 |
(2) | Condensed Consolidated Statement of Income and Condensed | ・・・・・・・・・・・・ P.13 |
Consolidated Statement of Comprehensive Income | ||
(3) | Condensed Consolidated Statement of Changes in Equity | ・・・・・・・・・・・・ P.17 |
(4) | Condensed Consolidated Statement of Cash Flows | ・・・・・・・・・・・・ P.21 |
(5) | Notes to Condensed Consolidated Financial Statements | ・・・・・・・・・・・・ P.23 |
(Note for the Assumption of Going Concern) | ・・・・・・・・・・・・ P.23 | |
(Segment Information) | ・・・・・・・・・・・・ P.23 | |
(Contingency) | ・・・・・・・・・・・・ P.25 | |
(Additional Information) | ・・・・・・・・・・・・ P.25 | |
3. Others | ・・・・・・・・・・・・ P.26 | |
(1) | Segment Information | ・・・・・・・・・・・・ P.26 |
(2) Area Information | ・・・・・・・・・・・・ P.28 |
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1. Qualitative Information Regarding Consolidated Financial Results
- Explanation of Financial Results
Millions of yen | ||||
Six Months Ended | Six Months Ended | Change | Change Ratio (%) | |
June 30, 2022 | June 30, 2023 | |||
Orders Received | 399,415 | 367,672 | (31,742) | (7.9) |
Revenue | 312,418 | 363,833 | 51,414 | 16.5 |
Operating Profit | 27,183 | 33,766 | 6,582 | 24.2 |
Operating Profit on | 8.7 | 9.3 | － | － |
Revenue Ratio (%) | ||||
Profit Attributable to | 18,065 | 20,583 | 2,518 | 13.9 |
Owners of Parent | ||||
Basic Earnings per | 196.35 | 223.37 | 27.03 | 13.8 |
Share (Yen) | ||||
During the Six Months Ended June 30, 2023, the Japanese economy showed signs of a gradual recovery in consumer spending and corporate capital investment due to the normalization of socioeconomic activities by "with Corona". On the other hand, in the global economy, there is a sense of a slowdown in economic activity, such as the prolonged situation in Ukraine, global inflation, and corporate investment restraints accompanying monetary tightening. The outlook remains uncertain, partly due to concerns about an economic downturn in Europe and the U.S. as a result of monetary policy, and heightened geopolitical risks, such as tightening restrictions on semiconductor export controls in the U.S. and China.
Under these circumstances, we formulated the Medium-term Management Plan "E-Plan 2025" for three years starting from fiscal year 2023. Under the theme of "creating value from the customer's perspective," we have shifted to a face-to-face market structure to further strengthen the competitiveness of each of our businesses, and we are moving forward with various measures to achieve our management indicators.
Orders received for the Six Months Ended June 30, 2023 were sluggish in Precision Machinery Business, which were affected by restrained or revised capital investment by semiconductor manufacturers in the semiconductor market, and a decline in plant utilization rates. On the other hand, in Energy Business, orders for large-scale projects for LNG, center in North America, and orders for services & support were firm. As a result, orders received for the entire company were high due to other businesses covering the decline in Precision Machinery Business, despite a year-on-year decline. Revenue increased year on year in other businesses, excluding in Environment Business, and remained strong. Revenue increased due to a recovery in demand in Building Service & Industrial Business and in Energy Business, which were affected by the previous year's lockdown in China. An improvement in production conditions in Precision Machinery Business, such as the elimination of component shortages results in an increase in revenues from order back lpg at the end of the previous fiscal year. Despite an upward trend in personnel expenses and fixed costs associated with the expansion of business activities, operating profit increased due to the impacts of price revisions and the yen's depreciation, in addition to higher revenue. As a result, both revenues and operating profit reached record highs for the second quarter of the fiscal year under review.
As a result, consolidated orders received for the Six Months Ended June 30, 2023 amounted to ¥367,672 million (a decrease of 7.9% year-on-year), revenue amounted to ¥363,833 million (an increase of 16.5% year- on-year), operating profit amounted to ¥33,766 million (an increase of 24.2% year-on-year), and profit attributable to owners of parent amounted to ¥20,583 million (an increase of 13.9% year-on-year).
Operating Results by Business Segment is as follows. From the first quarter of the fiscal year ending December 31, 2023, the classification of reportable segments has been changed. As a result, figures for the second quarter of the previous fiscal year have been reclassified into the new segment classification.
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Ebara Corporation published this content on 14 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2023 18:21:26 UTC.
