Mitsubishi Gas Chemical : Revision of Business Performance Forecasts
August 07, 2023 at 02:07 am EDT
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August 7, 2023
Company name: Mitsubishi Gas Chemical Company, Inc.
Representative: Masashi Fujii, Representative Director & President
Securities code: 4182 (The Prime Market of the Tokyo Stock Exchange)
Contact: Satoshi Takizawa, General Manager, IR Department
TEL: +81-3-3283-5041
Revision of Business Performance Forecasts
In view of its recent performance, Mitsubishi Gas Chemical Company, Inc. (MGC) has revised the business performance forecasts published on May 12, 2023.
1. Revision of half-year consolidated performance forecasts for the fiscal year ending March 2024 (April 1, 2023 - September 30, 2023)
Consolidated business forecasts
(Millions of yen)
Profit
Net sales
Operating
Ordinary
attributable
Basic earnings
profit
profit
to owners of
per share (¥)
parent
Previous forecast (A)
390,000
22,000
24,000
33,000
161.31
Revised forecast (B)
380,000
14,000
16,000
25,000
122.19
Change (B - A)
(10,000)
(8,000)
(8,000)
(8,000)
Change (%)
-2.6
-36.4
-33.3
-24.2
Results for the previous 1H
394,909
33,524
49,928
34,269
166.33
(ended September 2022)
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2. Revision of full-year consolidated performance forecasts for the fiscal year ending March 2024 (April 1, 2023 -March 31, 2024)
(1) Consolidated business forecasts
(Millions of yen)
Profit
Net sales
Operating
Ordinary
attributable
Basic earnings
profit
profit
to owners of
per share (¥)
parent
Previous forecast (A)
850,000
54,000
58,000
56,000
273.73
Revised forecast (B)
840,000
46,000
49,000
47,000
229.71
Change (B - A)
(10,000)
(8,000)
(9,000)
(9,000)
Change (%)
-1.2
-14.8
-15.5
-16.1
Results for the previous year
781,211
49,030
69,764
49,085
239.08
(ended March 2023)
(2) Non-consolidated business forecasts
(Millions of yen)
Net sales
Operating
Ordinary
Net profit
Basic earnings
profit
profit
per share (¥)
Previous forecast (A)
430,000
22,000
40,000
37,000
180.86
Revised forecast (B)
410,000
18,000
39,000
37,000
180.86
Change (B - A)
(20,000)
(4,000)
(1,000)
0
Change (%)
-4.7
-18.2
-2.5
0.0
Results for the previous year
439,525
19,144
40,528
37,371
182.03
(ended March 2023)
3. Reasons for Revisions
With regard to consolidated operating results forecasts for the first six months of the fiscal year ending March 31, 2024, the MGC Group anticipates that polyacetal and methanol market prices will fall short of its forecasts at the beginning of the fiscal year. In addition, overall sales volumes are likely to be lower than estimated, especially those of polycarbonates, electronic materials and aromatic chemicals. Accordingly, the Group expects net sales and each profit indicator to fall short of previous forecasts.
In terms of full-year consolidated operating results forecasts, the Group similarly expects net sales, along with each profit indicator, to fall short of its previous forecasts as first-half profit is expected to fall short of the previous forecast.
As for full-yearnon-consolidated operating results forecasts, the Group anticipates that net sales and operating profit and ordinary profit will fall short of previous forecasts based on similar reasons as those provided for consolidated operating results forecasts.
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The above forecasts assume exchange rates of ¥135=$1 (a depreciation of ¥5 from the previous forecast) and ¥145=€1 (a depreciation of ¥5 from the previous forecast) for the remaining months of the fiscal year.
Note: This document has been translated from the Japanese original for reference purpose only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
The above forecasts are based on information currently available to MGC as of the date of the announcement of this document. Actual operating results may vary due to various factors.
END
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MGC - Mitsubishi Gas Chemical Co. Inc. published this content on 07 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2023 06:05:52 UTC.
MITSUBISHI GAS CHEMICAL COMPANY, INC. is a Japan-based chemical company. The Company operates in five business segments. The Natural Gas-related Chemicals segment manufactures and sells methanol, ammonia, amine products, methacrylic acid products, multiple alcohol, enzyme and crude. The Aromatic-related Chemicals segment manufactures and sells xylene isomer and xylene derivatives. The Functional Chemicals segment manufactures and sells industrial inorganic chemicals, electronic chemicals and engineering plastics. The Specialty Functional Materials segment manufactures and sells materials for printed circuit boards (PCBs), printed boards and deacidification agents. The Others segment is engaged in the real estate business.
MITSUBISHI GAS CHEMICAL COMPANY, INC. 
