Nippon Chemi Con : Financial Results Explanatory Material (1Q FY2023)
August 18, 2023 at 05:19 am EDT
Share
Translation
Financial Results Explanatory Material
for 1Q FY2023
(Three months ended June 30, 2023)
TSE Prime Market, Securities code:6997
NIPPON CHEMI‐CON CORPORATION
August 2023
0
1Q FY2023 - Results Overview
Net sales (41.1 billion yen, +7% YoY,-2% QoQ)
Automotive electronics market
Firm automotive demand and easing of the semiconductor shortage led to an increase in vehicle production volume.
Industrial equipment market
Translation
Demand targeted at plant automation and productivity improvement was robust, but concerns over deceleration of the global economy from the second half of last fiscal year and other factors led to a correction phase.
ICT market
The deceleration in demand for PCs and servers and inventory adjustments continued.
Operating income (2.4 billion yen,-1.4% YoY, -38.5% QoQ)
We continued to address the surge in the price of materials and electricity due to the prolonged conflict between Russia and Ukraine and rising energy costs by implementing structural reforms to reduce costs and revising selling prices.
Profit attributable to owners of parent
Recognition of an extraordinary loss for the approx.18.1-billion-yen settlement of a U.S. civil lawsuit with Avnet, Inc. and three other companies resulted in a loss attributable to owners of parent of 13.8 billion yen.
NIPPON CHEMI‐CON CORPORATION
August 2023
1
1Q FY2023 - Consolidated Results (YoY, QoQ)
Translation
YoY: Higher net sales, lower operating income
QoQ: Lower net sales and operating income
(Million yen, %)
FY2022
FY2023
YoY
QoQ
1Q
4Q
1Q
Change
% Change
Change
% Change
Net sales
38,439
41,982
41,137
+2,698
+7.0%
(845)
(2.0%)
Operating income
2,447
3,926
2,413
(34)
(1.4%)
(1,513)
(38.5%)
Ratio to net sales
6.4%
9.4%
5.9%
(0.5 pt)
-
(3.5 pt)
-
Profit/loss attributable to
(2,281)
220
(13,827)
(11,546)
-
(14,047)
-
owners of parent
Ratio to net sales
(5.9%)
0.5%
(33.6%)
(27.7 pt)
-
(34.1 pt)
-
Capital investment
1,585
2,569
1,501
(84)
(5.3%)
(1,068)
(41.6)
Depreciation and amortization
1,458
1,432
1,532
+74
+5.1%
+100
+6.9
R&D expenses
1,084
1,135
1,118
+34
+3.1%
(17)
(1.5%)
Avg. exchange rate: USD (yen)
129.57
132.34
137.37
6.0% weaker yen
3.8% weaker yen
EUR (yen)
138.12
142.10
149.47
8.2% weaker yen
5.2% weaker yen
*The approx. 18.1-billion-yen settlement for the U.S. civil lawsuit has been posted as extraordinary loss for 1Q FY2023.
NIPPON CHEMI‐CON CORPORATION
August 2023
2
1Q FY2023 - Operating Income (YoY)
Translation
(Unit: Billion yen)
Surge in price of materials, electricity, etc. roughly equal to positive
effect from cost reductions, weakening yen, selling price revisions, etc.
NIPPON CHEMI‐CON CORPORATION
August 2023
3
1Q FY2023 - Operating Income (QoQ)
Translation
(Unit: Billion yen)
Decrease in net sales and SG&A, material, electricity, and other
expenses exceeded the positive effect from the weakening yen, selling
price revisions, and cost reductions.
NIPPON CHEMI‐CON CORPORATION
August 2023
4
Attachments
Original Link
Original Document
Permalink
Disclaimer
Nippon Chemi-con Corporation published this content on 18 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2023 09:18:01 UTC.
Nippon Chemi-Con Corp is a company primarily engaged in the manufacture and sale of electronic parts. The Company operates in Capacitors segment. The Capacitors segment is engaged in the manufacture, purchase and sale of capacitor products, including aluminum electrolysis capacitors and others, as well as the capacitor materials, such as aluminum electrode foils.
NIPPON CHEMI-CON CORPORATION 
