KANEKA CORPORATION Quarterly Financial Summary
3rd Quarter, Ended December 31, 2022
February 8, 2023
KANEKA CORPORATION
Contents
Summary | 1 |
Net Sales, Operating Income by Segment | 2 |
Business Performance | 3 |
Consolidated Balance Sheet | 7 |
Consolidated Business Revised Forecasts | 8 |
Forecasts of the operating results and other statements contained in this document are forward-looking statements, which are rationally determined based on information currently available to the Company. For a variety of reasons, actual performance may differ substantially from these projections. They do not constitute a guarantee that the Company will achieve these forecasts or any other forward-looking statements.
ⓒ2023 Kaneka Group All rights reserved.
Summary
(Billions of yen)
Net sales
FY2021
1-3Q(Apr.-Dec.)
508.7
FY2022
1-3Q(Apr.-Dec.)
567.1
Difference
Amount | % |
58.4 11.5%
Operating income | 33.3 | 27.6 | (5.7) | (17.1%) | |
Ordinary income | 31.3 | 26.6 | (4.7) | (15.0%) | |
Net income attributable to | 22.0 | 18.9 | (3.1) | (14.2%) | |
owners of parent | |||||
Net income per share | ¥337.55 | ¥286.61 |
（State of the Global Economy - Deceleration and Instability -）
- The global economy was unstable due to the sharp rise in energy and resource prices triggered by the Ukraine crisis, growing inflation and monetary tightening in various economies, which put a sudden brake on the economy in 3Q*, and there were also currency fluctuations.
（Kaneka Group's Business Performance - Despite Foundation Businesses Impacted, Leading-edge Businesses Grown -）
ⓒ2023 Kaneka Group All rights reserved.
*the third quarter (October 1 to December 31, 2022) | 1 |
Net Sales, Operating Income by Segment
(Billions of yen) | |||||||||||||||||||||||
Net sales | Operating income | ||||||||||||||||||||||
FY2022 | Difference (YoY) | FY2022 | Difference (YoY) | ||||||||||||||||||||
1Q | 2Q | 3Q | 1-3Q | Amount | % | 1Q | 2Q | 3Q | 1-3Q | Amount | % | ||||||||||||
Material SU | 88.9 | 84.0 | 77.8 | 250.7 | 33.5 | 15.4% | 10.8 | 7.9 | 3.8 | 22.5 | (3.8) | (14.5%) |
Quality of Life SU | 45.0 | 42.2 | 43.8 | 131.0 | 4.9 | 3.9% |
Health Care SU | 16.6 | 17.4 | 18.7 | 52.7 | 10.6 | 25.3% |
Nutrition SU | 41.9 | 44.1 | 46.0 | 132.0 | 9.5 | 7.7% |
Others | 0.3 | 0.2 | 0.2 | 0.8 | 0.0 | 0.3% |
Adjustment | - | - | - | - | - | - |
Total | 192.7 | 187.9 | 186.5 | 567.1 | 58.4 | 11.5% |
4.6 | 4.1 | 4.4 | 13.1 | (0.7) | (5.3%) |
3.9 | 3.7 | 4.5 | 12.0 | 3.6 | 42.3% |
0.8 | 1.3 | 2.3 | 4.4 | 0.7 | 20.4% |
0.2 | 0.1 | 0.1 | 0.4 | 0.0 | 13.1% |
(8.0) | (8.5) | (8.2) | (24.7) | (5.5) | - |
12.2 | 8.6 | 6.8 | 27.6 | (5.7) | (17.1%) |
※SU：Solutions Unit
- In 3Q, some of segments continued to experience declining demand and falling market conditions due to factors including the sluggish building materials and construction markets in Europe and the U.S., falling PVC market prices in Asia, and supply-demand adjustments in the electronics market, which had a significant impact on our business performance. Whereas, in leading-edge businesses (Health Care SU, etc.), sales of new products using our unique and differentiated technologies are steadily expanding and the business is growing speedily. In foundation businesses, Foam* and Foods strengthened their earnings foundation as spreads improved due to price revisions in response to rising raw material prices and other factors. We are making steady progress in transforming our business portfolio.
* Foam & Residential Techs | 2 | |
ⓒ2023 Kaneka Group All rights reserved. | ||
Business Performance（Material Solutions Unit）
Net sales | ¥250.7 billion 【up 15.4% YoY】 | Higher sales and lower profits due to strong impact of |
Operating income | ¥22.5 billion 【down 14.5% YoY】 | economic slowdown in Europe, the U.S., and Asia, |
Net sales
(Billions of yen)
250.7 |
217.2 |
FY2021 FY2022
Apr.-Dec.Apr.-Dec.
Operating income
(Billions of yen)
26.3 | 22.5 |
FY2021 FY2022
Apr.-Dec.Apr.-Dec.
Vinyls and Chlor-Alkali
- Caustic soda sales remained steady in 3Q.
- Demand for PVC resins in Asian markets was dull and market conditions remained weak.
Performance Polymers（MOD）
- Demand for rigid PVC usage for housing in Europe and the U.S. has slowed from 2Q* and remained sluggish in 3Q due to customers' inventory adjustments.
- Our Research & Business activities are shifting to expand the non-PVC applications market to enhance profitability.
- Business performance bottomed out in 3Q and is now on a recovery track.
Performance Polymers（MS）
Operating income（quarter）
10.8 | (Billions of yen) | ||||
9.3 | 8.7 | 7.9 | 8.3 | ||
3.8 | |||||
1Q | 2Q | 3Q | |||
Apr. -Jun. | Jul. -Sep. | Oct. -Dec. | |||
■ FY2021 | ■ | FY2022 |
ⓒ2023 Kaneka Group All rights reserved.
- Demand temporarily slowed down due to the weak construction markets in Europe and the U.S.
- The underlying tone of demand is strong, and following the last year's decision to increase capacity in Belgium, we are quickly considering the next capacity expansion in the U.S.
Green Planet
- Green Planet™ has received many inquiries from major brand holders in Japan, Europe, and the U.S., and joint developments are expanding.
-
We are also working hard on research and development of innovative technology to produce
Green Planet™ from CO2 and H2 for social implementation of "biomanufacturing," a prioritized Japanese government policy.
* the second quarter (July 1 to September 30, 2022) | 3 |
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Kaneka Corporation published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 08:19:10 UTC.
