HORIBA, LTD. Summary of Consolidated Financial Statements for the Three Months Ended March 31, 2023
(Japanese GAAP)
HORIBA, Ltd. | May 12, 2023 | |
Company name | Listed stock exchanges: Tokyo | |
Listing code | 6856 | URL: https://www.horiba.com/int/ |
Representative | Atsushi Horiba, Chairman & Group CEO | TEL: (81)75-313-8121 |
Contact | Yoshihiro Morita, Department Manager, Finance and Accounting Dept. |
(Figures have been rounded down to the nearest million yen)
1. Consolidated Results for the Three Months Ended March 31, 2023 (January 1, 2023 - March 31, 2023)
(1) Consolidated Operating Results | (Percentages represent changes from the corresponding in the previous year) | |||||||||
Net Sales | Operating Income | Ordinary Income | Net Income Attributable | |||||||
to Owners of Parent | ||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
Three Months Ended 3/31/23 | 65,854 | 18.6 | 10,450 | 21.4 | 10,320 | 18.0 | 13,556 | 136.9 | ||
Three Months Ended 3/31/22 | 55,510 | 14.3 | 8,605 | 45.0 | 8,743 | 48.6 | 5,721 | 46.7 | ||
(Note) Comprehensive income: | FY2023Q1 | 15,865 million yen (43.2%) | FY2022Q1 11,077 million yen (16.9%) | |||||||||||||||
Net Income Attributable | Net Income Attributable | |||||||||||||||||
to Owners of Parent per Share | ||||||||||||||||||
to Owners of Parent per Share | ||||||||||||||||||
(Diluted) | ||||||||||||||||||
Yen | Yen | |||||||||||||||||
Three Months Ended 3/31/23 | 320.99 | 319.36 | ||||||||||||||||
Three Months Ended 3/31/22 | 135.59 | 134.88 | ||||||||||||||||
(2) Consolidated Financial Position | ||||||||||||||||||
Total Assets | Net Assets | Shareholders' | ||||||||||||||||
Equity Ratio | ||||||||||||||||||
Millions of yen | Millions of yen | % | ||||||||||||||||
As of 3/31/23 | 414,063 | 249,114 | 60.0 | |||||||||||||||
As of 12/31/22 | 416,742 | 240,850 | 57.6 | |||||||||||||||
(Reference) Net assets excluding subscription rights to shares and non-controlling interests: | ||||||||||||||||||
As of 3/31/23 248,341 million yen | As of 12/31/22 240,065 million yen | |||||||||||||||||
2. Dividend | ||||||||||||||||||
Dividend per Share | ||||||||||||||||||
First | Second | Third | Year End | Total | ||||||||||||||
Quarter | Quarter | Quarter | ||||||||||||||||
Yen | Yen | Yen | Yen | Yen | ||||||||||||||
FY 12/2022 | - | 65.00 | - | 180.00 | 245.00 | |||||||||||||
FY 12/2023 | - | |||||||||||||||||
FY 12/2023 (Forecast) | 80.00 | - | 175.00 | 255.00 | ||||||||||||||
(Note) Changes in the latest dividend forecasts released: None
3. Consolidated Forecasts for the Year Ending December 31, 2023 (January 1, 2023 - December 31, 2023)
(Percentages represent changes from the same period in the previous year)
Net Sales
Operating Income
Ordinary Income | Net Income Attributable |
to Owners of Parent |
Net Income Attributable
to Owners of Parent
per Share
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |
First Half | 127,500 | 10.9 | 18,500 | 13.8 | 18,300 | 9.0 | 19,000 | 69.0 |
Full Year | 279,000 | 3.3 | 40,000 | -12.7 | 39,500 | -15.7 | 34,000 | -0.2 |
(Note) Changes in the latest business forecasts released: Yes
Yen 449.87 805.03
1 | HORIBA, Ltd.(Consolidated) |
Notes
-
Changes in significant subsidiaries during the period
(Changes in specified subsidiaries that caused a change in the scope of consolidation): None - Application of the accounting method specific to quarterly consolidated financial statements: Yes
- Changes in accounting policies, accounting estimates and retrospective restatement
- Changes in accounting policies associated with revision of accounting standards: None
- Changes in accounting policies arising from other than the above: None
③ Changes in accounting estimates: None
④ Retrospective restatement: None
- Number of shares outstanding (common stock)
① Shares issued (including treasury stock) | March 31, 2023 | 42,532,752 | December 31, 2022 | 42,532,752 | |
② Treasury stock | March 31, 2023 | 298,394 | December 31, 2022 | 302,553 | |
③ Average number of outstanding shares | Jan. - Mar., 2023 | 42,231,966 | Jan. - Mar., 2022 | 42,197,250 | |
Note 1. This consolidated financial report is not subject to quarterly review by certified public accountants or accounting firms.
Note 2. Appropriate use of business forecasts and other important information
The forecasts of dividend amount and business performance contained in this report have been made based on certain future assumptions, outlooks, and plans which are available at the HORIBA Group as of May 12,2023. However, due to risks and various uncertain factors such as future business operation policies, changes in the economic environment in Japan and overseas, fluctuation of currency rates, it is possible that actual performance would vary considerably from the forecasts.
2 | HORIBA, Ltd.(Consolidated) |
1. Qualitative Information Concerning Consolidated Results
(1) Information Concerning Consolidated Operating Results
(For details, see page 12-14, "3. Supplemental Information - HORIBA, Ltd. Financial Highlights for the Three Months Ended March 31, 2023")
During the three months ended March 31,2023 (the first quarter), HORIBA, Ltd. ("the Company") and its consolidated subsidiaries (together "the HORIBA Group" or "HORIBA" as a consolidated group) increased sales by 18.6% year-on- year to 65,854 million yen, mainly due to an increase in sales in the Semiconductor segment. Operating income increased by 21.4% to 10,450 million yen and ordinary income, by 18.0% to 10,320 million yen. In addition, contributed mainly by extraordinary gain on the sale of shares of subsidiaries, net income attributable to owners of parent ("net income") increased by 136.9% to 13,556 million yen.
The operating results of each business segment are summarized as follows.
(Automotive Segment)
Sales of emission measurement systems increased in Americas and Asia. As a result, segment sales increased by 16.6% year-on-year to 15,943 million yen and operating income increased by 147.3% to 330 million yen.
(Process & Environmental Segment)
Mainly due to demand for industrial process measurement expanded, sales of process measurement equipment business increased in Americas and Japan as well as water quality system in Japan. As a result, segment sales increased by 12.9% year-on-year to 5,404 million yen an operating income increased by 16.6% to 529 million yen.
(Medical-Diagnostics Segment)
Mainly due to an increase in sales of hematology analyzers in Japan and Asia as well as clinical chemistry analyzers and reagents in Americas, segment sales increased by 10.5% year-on-year to 7,351 million yen. On the profit side, operating loss of 43 million yen was recorded owing mainly to an increase in rising purchasing prices (compared to an operating income of 154 million yen in the first three months of the previous year).
(Semiconductor Segment)
Sales to semiconductor production equipment manufacturers increased due to high-level of order backlogs in the previous year, while demand appeared to be slower recently. As a result, segment sales increased by 30.4% year-on- year to 28,988 million yen and operating income increased by 35.2% to 9,707 million yen.
(Scientific Segment)
Mainly due to a decrease in sales of optical components, segment sales decreased slightly to 8,166 million yen (compared to a sales of 8,169 million yen in the first three months of the previous year). On the profit side, operating loss of 73 million yen was recorded mainly caused by a change in the product sales mix (compared to an operating income of 683 million yen in the first three months of the previous year).
3 | HORIBA, Ltd.(Consolidated) |
- Information Concerning Consolidated Earnings Forecasts for FY2023 The consolidated earnings forecasts are summarized as follows.
Our assumption for the exchange rate has been changed from 130 yen to 133 yen against the US dollars and 140 yen to 144 yen against the euro.
Consolidated forecasts for the first half of FY2023
Amount: Millions of yen | ||||
Previous Forecasts | Revised Forecasts | Changes | ||
(As of Feb. 14) | (As of May 12) | |||
Net Sales | 128,000 | 127,500 | -500 | |
Operating Income | 19,000 | 18,500 | -500 | |
Ordinary Income | 18,800 | 18,300 | -500 | |
Net Income Attributable | 17,000 | 19,000 | +2,000 | |
to Owners of Parent | ||||
Consolidated forecasts for the first half of FY2023 by segment | ||||
Net Sales | Amount: Millions of yen | Operating Income | Amount: Millions of yen |
Previous | Revise | ||
Forecasts | Forecasts | Changes | |
(As of Feb. | (As of May | ||
14) | 12) | ||
Automotive | 30,000 | 30,000 | - |
Process& | 11,000 | 11,000 | - |
Environmental | |||
Medical-Diagnostics | 15,000 | 15,000 | - |
Semiconductor | 54,000 | 54,000 | - |
Scientific | 18,000 | 17,500 | -500 |
Total | 128,000 | 127,500 | -500 |
Previous | Revised | |||
Forecasts | Forecasts | Changes | ||
(As of Feb. | (As of May | |||
14) | 12) | |||
Automotive | (1,500) | (1,000) | +500 | |
Process& | 1,000 | 1,000 | - | |
Environmental | ||||
Medical-Diagnostics | - | - | - | |
Semiconductor | 18,000 | 18,000 | - | |
Scientific | 1,500 | 500 | -1,000 | |
Total | 19,000 | 18,500 | -500 | |
With regard to consolidated earnings forecasts for the first half of FY2023, overall sales and operating income forecasts have been revised to 127,500 million yen and 18,500 million yen respectively. Also forecast for ordinary income has been revised downward by 500 million yen to 18,300 million yen. Meanwhile, net income forecast has been revised upward by 2,000 million yen to 19,000 million yen, resulting from the UK's Substantial Shareholders Exemption which will be applied to extraordinary gain on the sale of shares of subsidiaries.
By business segment, the Company has revised downward sales and operating income forecasts of the Scientific segment by 500 million yen and 1,000 million yen respectively, after taking into account the recent order trend. On the other hand, operating income forecast of the Automotive segment has been revised upward by 500 million yen, since products with good profit margins are expected to be recorded in the first half.
4 | HORIBA, Ltd.(Consolidated) |
Consolidated forecasts of full year FY2023
Amount: Millions of yen | ||||
Previous Forecasts | Revised Forecasts | Changes | ||
(As of Feb. 14) | (As of May 12) | |||
Net Sales | 290,000 | 279,000 | -11,000 | |
Operating Income | 46,000 | 40,000 | -6,000 | |
Ordinary Income | 45,500 | 39,500 | -6,000 | |
Net Income Attributable | 35,500 | 34,000 | -1,500 | |
to Owners of Parent | ||||
Consolidated forecasts of full year FY2023 by segment | ||||
Net Sales | Amount: Millions of yen | Operating Income | Amount: Millions of yen |
Previous | Revise | ||
Forecasts | Forecasts | Changes | |
(As of Feb. | (As of May | ||
14) | 12) | ||
Automotive | 79,000 | 79,000 | - |
Process& | 25,000 | 25,000 | - |
Environmental | |||
Medical-Diagnostics | 31,000 | 31,000 | - |
Semiconductor | 115,000 | 105,000 | -10,000 |
Scientific | 40,000 | 39,000 | -1,000 |
Total | 290,000 | 279,000 | -11,000 |
Previous | Revised | |
Forecasts | Forecasts | Changes |
(As of Feb. | (As of May |
- 12)
Automotive | 500 | 500 | - | |
Process& | 2,500 | 2,500 | - | |
Environmental | ||||
Medical-Diagnostics | 500 | 500 | - | |
Semiconductor | 38,500 | 33,500 | -5,000 | |
Scientific | 4,000 | 3,000 | -1,000 | |
Total | 46,000 | 40,000 | -6,000 | |
With regard to consolidated earnings forecasts for the full fiscal year, overall sales and operating income forecasts have been revised to 279,000 million yen and 40,000 million yen respectively, while forecasts for ordinary income and net income have been revised downward by 6,000 million yen to 39,500 million yen and by 1,500 million yen to 34,000 million yen respectively due to a decrease in operating income.
By business segment, forecasts for sales and operating income of the Semiconductor segment have been revised downward by 10,000 million yen and 5,000 million yen respectively, while those forecasts of the Scientific segment have also been revised downward by 1,000 million yen each , after taking into account the recent order trend.
The dividend forecast for the current fiscal year remains unchanged.
Cautionary statement with respect to earnings forecasts
The forecasts of dividend amount and business performance contained in this report have been made based on certain future assumptions, outlooks, and plans which are available at the HORIBA Group as of May 12, 2023. However, due to risks and various uncertain factors such as future business operation policies, changes in the economic environment in Japan and overseas, fluctuation of currency rates, it is possible that actual performance would vary considerably from the forecasts.
5 | HORIBA, Ltd.(Consolidated) |
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Horiba Ltd. published this content on 16 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2023 07:49:03 UTC.
