MITSUI KINZOKU
(Mitsui Mining & Smelting Co., Ltd. TSE5706)
FY2023 Q1 Results & FY 2023 Forecast
August 8, 2023
Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved.
Results of FY2023 Q1
-
FY2023 Q1 YoY: Sales decreased due to lower sales volumes in the Engineered Materials segment, such as MicroThin™, and lower metal and precious metal prices.
In addition to the above, higher energy costs and inventory factors associated with lower metal and precious metal prices led to a decrease in profit. - As for the FY2023 forecast, sales are expected to be lower than the previous forecast due to a decrease in sales volume of major products in the Engineered Materials segment and lower-than- expected prices of metals and precious metals.
In addition to the above, operating income is expected to decrease from the previous forecast due to inventory factors resulting from the decline in metal and precious metal prices, etc. However, ordinary income is expected to be the same amount as the previous forecast due to an increase in non-operating income such as dividend income.
(Unit: Billion yen) | Q1 Results | |||
2023 | 2022 | Difference | ||
Results | Results (23-22) | |||
Net Sales | 147.5 | 165.1 | -17.6 | |
-10.6% | ||||
Operating Income | -5.5 | 18.2 | -23.7 | |
- | ||||
Ordinary Income | 5.1 | 25.4 | -20.4 | |
-80.0% | ||||
Net income attributable to | 2.5 | 21.7 | -19.2 | |
owners of parent | -88.3% | |||
Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved.
Forecast
2023 2023 Difference
Forecast Forecast
-
Aug 8) (May 10)
605.0 645.0 -40.0
-6.2%
11.0 20.0 -9.0
-45.0%
20.0 20.0 0.0
0.0%
9.5 10.0 -0.5
-5.0%
1
Sales and Earnings
(Unit: Billion yen) | 66.0 | ||||||
60.7 | |||||||
51.3 | |||||||
51.1 | |||||||
44.8 | 52.1 | Ordinary Income | |||||
13.0 | 19.9 | 20.0 | |||||
9.3 | 12.5 | 11.0 | 5.1 | Net Income | |||
1.6 | 8.5 | 9.5 | 2.5 | attributable to owners | |||
of parent | |||||||
20/3 | 21/3 | 22/3 | 23/3 | '24/3 | '23/6 | ||
-5.5 | |||||||
633.3 | 652.0 | 605.0 | |||||
Operating Income | |||||||
522.9 | |||||||
473.1 | |||||||
147.5 | Sales | ||||||
20/3 | 21/3 | 22/3 | 23/3 | 24/3 | 23/6 | ||
Dividend per share | Forecast | ||||||
¥70 | ¥85 | ¥110 | ¥140 | ¥140 | |||
< - > | < - > | < - > | < - > | < ¥70 > | |||
DOE | 2.5% | 2.5% | 2.6% | 3.3% | 3.3% | ||
Forecast | 2 | ||||||
Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. | as of Aug 8 | ||||||
FY2023 Ordinary Income Forecast
FY2023 1st half ordinary income is expected to be 2 billion yen higher than the forecast announced on May 10th. FY2023 full-year ordinary income is expected to be the same as the forecast announced on May 10th.
(Unit: Billion yen)
Ordinary Income | Ordinary Income | See page 5 | |
Forecast for FY2023 | Forecast for FY2023 | for details | |
(May 10th) | 20.0 | (Aug 8th) | 20.0 |
18.0 | ||
See page 18 | 16.0 | |
for details | ||
Profit increase by | ||
12.0 billion | ||
See page 4 | ||
for details | ||
Profit increase by | 4.0 | |
2.0 billion | ||
2.0 |
Forecast for | Forecast for | Forecast for | Forecast for | Forecast for | Forecast for |
FY2023 | FY2023 | FY2023 | FY2023 | FY2023 | FY2023 |
1st half | 2nd half | 1st half | 2nd half |
Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved.
Profit decrease by 2.0 billion
See page 17
for details
3
FY2023 1st half Ordinary Income Forecast
Operating income forecast for the first half of FY2023 is expected to decrease by 6 billion yen from the forecast announced on May 10th. Ordinary income forecast is expected to
increase by 2 billion yen from the forecast announced on May 10th. | (Unit: Billion yen) |
+ 1.4 | 4.0 |
2.0 0 2.0 - 2.8
Non-
operating profit/loss
■ Main factor
- Engineered Materials +0.4
・ Metals | -3.2 |
+ 6.6 | Ordinary | |||
Other | ||||
Operating profit and | ||||
Profit | ||||
loss decrease by | non- | increase by | ||
6.0 billion | operating | 2.0 billion | ||
profit/ | ||||
- 4.0 | loss |
Ordinary | Operating | - 6.0 |
Income | Income | Inventory |
Forecast | Forecast | |
factors | ||
for FY2023 | for FY2023 | |
1st half on | 1st half on | |
May 10th | May 10th |
■ Main factor
・ Copper foil+0.3 ・ Engineered Powders +0.4
■ Main factor | |
・ LME/Forex | -0.6 |
・ Energy cost decrease | |
(including cokes) | +1.0 |
・ Deterioration in zinc | |
smelting operations | -0.9 |
・ Mineral Resources Div | -1.0 |
+ 2.5
Ordinary
Income
Forecast
for FY2023
1st half
on Aug 8th
+ 1.3
Operating Dividend income
Loss | from Japan | |
Korea Joint | ||
Forecast | ||
Corporate | Smelting | |
+ 0.6 | - 1.6 | |||||
PGM price | Engineered | |||||
difference | Materials | |||||
on Catalysts | Metals | Mobility |
& others for FY2023 |
1st half |
on Aug 8th |
■ Main factor |
・ Catalysts +2.6 |
Copyright © Mitsui Mining & Smelting Co., Ltd. All Rights Reserved. | 4 |
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Mitsui Mining & Smelting Co. Ltd. published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 06:22:59 UTC.