Elematec : Notice Concerning Revisions to Consolidated Business Forecasts for the Fiscal Year Ending March 2024, Dividend Payment from Retained Earnings and Revision to Year-end Dividend Forecast
October 27, 2023 at 04:29 am EDT
Share
October 27, 2023
To Whom It May Concern
Company
Elematec Corporation
Representative
Chief Executive Officer and Chairman of the Board
Akira Yokode
(Stock Code 2715 The Prime Market of the Tokyo Stock Exchange)
Contact
Managing Director, Director of corporate Division
Masahiro Fukami
(Tel: +81-3-3454-3526)
Notice Concerning Revisions to Consolidated Business Forecasts for the Fiscal Year Ending March 2024, Dividend Payment from Retained Earnings and Revision to Year-end Dividend Forecast
Elematec Corporation announces a revision to the business forecast for the fiscal year ending March 2024, which was announced on April 25, 2023, based on recent business performance and trends.
Elematec would also like to make an announcement that the Company at the board of directors meeting held on October 27, 2023 decided to pay dividends from retained earnings at the end of the second quarter of the fiscal year ending March 2024 with a date of record of September 30,2023 and revised the year-end dividend forecast for the fiscal year ending March 2024, as follows.
1. Revisions to business forecasts
Revisions to consolidated business forecasts for the fiscal year ending March 2024 (April 1, 2023 to March 31, 2024)
(Million yen)
Net income
Net sales
Operating
Ordinary
attributable
Net income
income
income
to owners of
per share
parent
Previous forecast (A)
233,500
10,600
10,300
7,250
177.06yen
Revised forecast (B)
207,000
9,000
8,400
6,000
146.53yen
Increase/decrease (B-A)
▲26,500
▲1,600
▲1,900
▲1,250
-
Percentage change (%)
▲11.3%
▲15.1%
▲18.4%
▲17.2%
-
Previous results (Ref.)
(fiscal year ended Mar.
239,774
12,052
11,130
7,696
187.96yen
2023)
Reason for revision
During the fiscal year under review, business conditions have largely been deteriorating compared to our initial forecast due to a delayed recovery of the Chinese economy and diminishing demand for smartphones, and are expected to remain severe over the second half of the fiscal year. The Group will revise its business forecast for the fiscal year ending March 2024. This is mainly due to the lower-than- expected performance of its game console-related materials and electronic parts-related materials.
1
2. Revision to dividends from surplus and year-end dividend forecast
(1) Details of payment of dividends
Payment of
Recent dividend
forecast
dividends decided on
(Announced on
October 27,2023
April 25,2023)
Record date
September 30,2023
Same as on the left
Dividend per Share
40.00
40.00
(yen)
Total amount of dividends
1,637million yen
Effective date
December 4,2023
Source of dividend
Retained earnings
.
(2) Description of revision
Annual dividend (yen)
End of 2Q
Year-end
Previous forecast
49
Revised forecast
45
Current results
40
Previous results
27
49
(Year ended Mar. 2023)
Year-end dividend for
FY2023
(Year ended
March 31,2023) September 30,2022
27.00 1,105million yen December 5,2022 Retained earnings
Total 89
85
76
(3) Reason for revision
As we position redistribution of profits to our shareholders as an important management issue, our basic principle is set to the amount calculated using the payout ratio (consolidated) of 50% or the DOE of 3%, whichever is higher as a guideline, taking into account the status of cash flow based on medium- term performance outlook and investment plan.
Taking into the account the above-mentioned revision to the business forecast, the Company has calculated dividends again, the Company has resolved to pay 40 yen per share as the dividends from retained earnings at the end of the second quarter of the fiscal year ending March 2024.The Company has also revised the estimated year-end dividend to 45 yen per share.
Accordingly, annual dividend per share will be 85 yen and a dividend payout ratio (consolidated) will be 58.0%.
(Note)
The above forecast regarding future performance are based on information available at the time this report was prepared and embody uncertainties. Therefore, actual results may differ from the above forecasts due to changes in business conditions and other factors.
Elematec Corporation published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2023 08:28:02 UTC.
Elematec Corp is a Japan-based company mainly engaged in the sale, processing, design and manufacture of electric materials, electronic components and mechanical parts. The Company operates in four regional segments. The Company is engaged in the provision of electrical materials such as substrates, silicon, anisotropic conductive films (ACFs), heat radiation rubbers, high-function films and resins, insulating tapes, high-function adhesives, lens films, anti-reflective materials and inert liquid; electronic components such as connectors, sensors, thermostats, inductors, backlights, fuses and liquid crystal displays (LCDs); mechanical parts such as fiberglass reinforced plastic (FRP) molded products, filters, exterior products, solar panels, power modules and others; other products such as cable accessories, polishing agents, camera monitors and others. The Company operates within the domestic market and to overseas markets, including China, other Asia, Europe and America.
Elematec : Notice Concerning Revisions to Consolidated Business Forecasts for the Fiscal Year Ending March 2024, Dividend Payment from Retained Earnings and Revision to Year-end Dividend Forecast
ELEMATEC CORPORATION 