Espec : Results Briefing for the Fiscal Year Ended March 31, 2022
June 10, 2022 at 02:22 am EDT
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Securities ID code:6859
Results Briefing
for the Fiscal Year Ended March 31, 2022
ESPEC CORP.
May 25, 2022
Financial Result for the Fiscal Year Ended March 31, 2022
Orders received ware strong mainly in electronics-related products and reached record highs.
Net sales failed to grow due to an electronic component shortage, and profit decreased due to procurement costs and selling, general and administrative expenses.
Comparison with Forecasts
Year on Year
(Revised in February, 2022)
Increased substantially in the Equipment
Continued strong performance in the
■ Orders Received
〇
Business (mainly environmental test
〇 Equipment Business (mainly
chambers)
environmental test chambers)
Increased in the Equipment Business
Equipment Business fell slightly short,
■ Net Sales
〇
(mainly environmental test chambers)
〇
but was in line with forecast
and Service Business
Decreased due to a rise in procurement
Below forecast due to a deterioration in
■ Operating Profit
×
costs and an increase in selling, general
×
the cost-of-sales ratio and an increase in
and administrative expenses in line with
selling, general and administrative
an increase of orders received
expenses.
■ Ordinary Profit,
Decreased due to the decrease in
In line with forecast through gain on
Profit Attributable to
×
〇
operating profit
sale of investment securities, etc.
Owners of Parent
■ Looking at the dividend per share, the annual dividend forecast is ¥60,
with an interim dividend of ¥18 and a year-end dividend of ¥42, as initially planned.
1
Summary of Profits and Losses
(Millions of yen)
FY 2020
FY2021
FY 2021
Forecast
Year on Year
Against forecast
Results
Results
(February, 2022)
Orders Received
37,580
50,800
51,303
+36.5%
+1.0%
Net Sales
38,668
42,200
41,852
+8.2%
-0.8%
Cost of Net Sales
25,255
27,900
27,849
+10.3%
-0.2%
Cost Ratio
65.3%
66.1%
66.5%
1.2pt deterioration
0.4pt deterioration
Gross Profit
13,412
14,300
14,003
+4.4%
-2.1%
SG&A
10,839
11,900
12,034
+11.0%
+1.1%
Operating Profit
2,572
2,400
1,968
-23.5%
-18.0%
Ordinary Profit
2,840
2,600
2,322
-18.2%
-10.7%
Profit Attributable to
1,961
1,900
1,905
-2.8%
+0.3%
Owners of Parent
From July 2021, ESPEC THERMAL TECH SYSTEM CORP. has been included in the scope of consolidation.
2
Performance by Segment
(Millions of yen)
FY 2020
FY2021
FY 2021
Segment
Forecast
Year on Year
Against forecast
Results
Results
(February, 2022)
Equipment
Orders Received
30,755
43,450
43,535
+41.6%
+0.2%
Net Sales
30,669
35,000
34,518
+12.6%
-1.4%
Business
Operating Profit
2,062
1,920
1,370
-33.5%
-28.6%
Service
Orders Received
6,153
6,450
6,771
+10.0%
+5.0%
Net Sales
6,063
6,400
6,407
+5.7%
+0.1%
Business
Operating Profit
446
550
618
+38.5%
+12.4%
Orders Received
976
1,200
1,265
+29.6%
+5.4%
Other
Net Sales
2,241
1,100
1,188
-47.0%
+8.0%
Business
Operating profit
60
-70
-23
-
-
Orders Received
-304
-300
-269
-
-
Elimination
Net Sales
-305
-300
-261
-
-
Operating Profit
3
0
2
-
-
Orders Received
37,580
50,800
51,303
+36.5%
+1.0%
Total
Net Sales
38,668
42,200
41,852
+8.2%
-0.8%
Operating Profit
2,572
2,400
1,968
-23.5%
-18.0%
From July 2021, ESPEC THERMAL TECH SYSTEM CORP. has been included in the scope of consolidation.
3
Orders Received in FY2021
■ Orders received reached record highs partly because of a rebound effect from FY2020
Orders Received (Consolidated)
of yen）
60,000
51,303
50,000
-5,991
+13,722
Rebound effect*
43,571
assumed to be approx. ¥3.0 billion
40,000
37,580
30,000
（Millions
20,000
10,000
0
2019
2020
2021
Assumed to be ¥48.0 billion excluding the rebound effect
*Rebound effect
The amount assuming that investments planned in FY2020 were implemented in FY2021
4
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Espec Corporation published this content on 10 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2022 06:21:03 UTC.
ESPEC CORP. is a Japan-based company mainly engaged in the equipment business, service business and others. The Company operates in three business segments. The Equipment segment is engaged in the provision of environmental testing equipment, providing environmental test equipment for testing the effects of temperature, humidity, and other environmental factors on automobiles, communications, and other electronic components, energy device equipment, providing charge and discharge evaluation systems, and electrode drying device used in battery manufacturing process, as well as semiconductor-related devices. The Service segment is involved in the provision of after services, engineering services and contract testing services; the rental of environmental testing equipment. The Others segment is involved in the environmental protection business and plant growing equipment business.
ESPEC CORP. 
