Espec : Results Briefing for the Nine Months Ended December 31, 2021
February 28, 2022 at 01:22 am EST
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Securities ID code:6859
Results Briefing
for the Nine Months Ended December 31, 2021
ESPEC CORP.
February 18, 2022
Financial Result for the Nine Months Ended December 31, 2021
Orders Received increased substantially due to recovery of the global economy, while production decreased due to a shortage of electronic components.
Although sales increased year on year, operating profit declined because of an increase in selling, general and administrative expenses.
Year on Year
Comparison with Forecasts
(Announced in November, 2021)
Increased substantially in the
Continued strong performance in the
■ Orders Received
○ Equipment Business (mainly
○ Equipment Business (mainly
environmental test chambers)
environmental test chambers)
Declined in Other Business, but
Below forecast with no progress
○ increased in the Equipment
■ Net Sales
× made toward the normalization of
Business (mainly environmental test
component procurement
chambers) and Service Business
Decreased due to an increase in
Below forecast due to a shortfall in
■ Operating Profit
× selling, general and administrative
× net sales and an increase in selling,
expenses
general and administrative expenses
■ Ordinary Profit,
Decreased due to the decrease in
Below forecast due to the decrease in
Profit Attributable to
×
×
Owners of Parent
operating profit
operating profit
■ On February 10, the Company announced downward revisions to its full-year profit forecast based on 3rd quarter results. No revision made to initial forecast for year-end dividends (¥18 interim dividend, ¥42 year-end dividend, and ¥60 annual dividend).
1
Summary of Profits and Losses
(Millions of yen)
FY 2020
FY 2021
Year on Year
3Q Results
3Q Results
Orders Received
27,448
38,752
41.2%
Net Sales
26,526
28,131
6.1%
Cost of Net Sales
17,401
18,337
5.4%
Cost Rate
65.6%
65.2%
0.4pt amelioration
Gross Profit
9,125
9,794
7.3%
SG&A
7,794
8,621
10.6%
Operating Profit
1,330
1,172
-11.9%
Ordinary Profit
1,491
1,386
-7.0%
Profit Attributable to
943
834
-11.6%
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)
Segment
FY 2020
FY 2021
Year on Year
3Q Results
3Q Results
Equipment
Orders Received
22,340
33,007
47.8%
Net Sales
20,745
23,237
12.0%
Business
Operating Profit
1,073
951
-11.4%
Service
Orders Received
4,567
4,993
9.3%
Net Sales
4,114
4,472
8.7%
Business
191
311
63.1%
Operating Profit
Orders Received
778
956
22.9%
Other
Net Sales
1,848
612
-66.9%
Business
64
-89
-
Operating profit
Orders Received
-237
-205
-
Elimination
Net Sales
-182
-190
-
Operating Profit
1
-0
-
Orders Received
27,448
38,752
41.2%
Total
Net Sales
26,526
28,131
6.1%
Operating Profit
1,330
1,172
-11.9%
3
Analysis of Operating Profit Increase and Decrease Factor
Equipment Business
Service Business
Other Business
128 -225
877
1,330
552
Increase and decrease of
the gross profit by the
fluctuation of the
net sales
-247
58
79
116
Increase and decrease of
the gross profit by the
fluctuation of the cost rate
(Millions of yen)
-298
166
-120
-111-23
allowancesandSalaries
developmentandResearch expenses
feeCommission
-82
costsfreightandPacking
andTraveling expensestransportation
Other
Depreciation
-358
1,172
-827
Increase of selling, general and
administrative expenses
FY2020
3Q
-158
Totals have been calculated using the gross profit per net sales rate.
FY2021
3Q
4
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Espec Corporation published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 06:21:05 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. 
