NIPPON SHOKUBAI CO., LTD. (4114) Financial Results

For the First Quarter of the Fiscal Year Ending March 31, 2024

  • This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results

For the First Quarter of the Fiscal Year Ending March 31, 2024 [IFRS]

(Three Months Ended June 30, 2023)

August 7, 2023

Company name:

NIPPON SHOKUBAI CO., LTD.

Listing: TSE (Prime Market)

Code number:

4114

URL: https://www.shokubai.co.jp/

Representative:

Kazuhiro Noda, President and Representative Member of the Board

Contact for inquiries: Tomotaka Nishikawa, General Manager of Corporate

Communications Dept.

Phone: +81-3-3506-7605

Scheduled quarterly report filing date:

August 9, 2023

Scheduled date of dividend payment:

-

Supplementary quarterly materials prepared:

None

Quarterly results information meeting held:

None

(Figures are rounded off to the nearest million yen)

1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024 (hereafter

FY2023) (from April 1, 2023 to June 30, 2023)

(1) Consolidated operating results (cumulative)

(Percentages indicate year-over-year changes)

Profit

Total

Revenue

Operating profit

Profit before tax

Profit

attributable

to

comprehensive

owners of parent

income

Millions of

%

Millions of

%

Millions of

%

Millions of

%

Millions of

%

Millions of

%

yen

yen

yen

yen

yen

yen

Three months

ended

97,362

(12.7)

6,721

(25.5)

7,019

(36.9)

5,260

(32.8)

4,575

(39.7)

15,304

(4.6)

Jun. 30, 2023

Three months

ended

111,505

29.6

9,026

35.6

11,122

37.1

7,822

34.0

7,591

34.5

16,035

151.2

Jun. 30, 2022

Basic earnings

Diluted earnings

per share

per share

Yen

Yen

Three months ended

116.37

116.35

Jun. 30, 2023

Three months ended

190.37

-

Jun. 30, 2022

(2) Consolidated financial position

Equity

attributable

Rate of equity

Equity attributable

Total assets

Total equity

attributable to

to owners of parent

to owners of parent

owners of parent

per share

Millions of yen

Millions of yen

Millions of yen

%

Yen

As of Jun. 30, 2023

535,732

381,333

373,190

69.7

9,491.81

As of Mar. 31, 2023

523,319

369,998

362,231

69.2

9,213.91

NIPPON SHOKUBAI CO., LTD. (4114) Financial Results

For the First Quarter of the Fiscal Year Ending March 31, 2024

2. Dividends

Dividends per share

End of 1Q

End of 2Q

End of 3Q

Year-end

Annual

Yen

Yen

Yen

Yen

Yen

FY 2022

-

90.00

-

90.00

180.00

FY 2023

-

FY 2023

(forecast)

90.00

-

90.00

180.00

Note: Revisions to the dividends

forecast since the latest announcement: None

3. Consolidated Financial Forecasts for the Fiscal Year Ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

(Percentages indicate rate of changes year-over-year)

Revenue

Operating profit

Profit before tax

Profit attributable to

Basic earnings

owners of parent

per share

Millions of

%

Millions of

%

Millions of

%

Millions of

%

Yen

yen

yen

yen

yen

First half

190,000

(13.5)

10,000

(42.3)

10,500

(48.1)

7,000

(50.2)

178.05

(cumulative)

Full year

420,000

0.1

18,000

(23.5)

20,000

(23.6)

14,500

(25.2)

368.80

Note: Revisions

to the financial forecasts since the latest announcement: Yes

  • Notes
  1. Changes in significant subsidiaries during the period (changes in specific subsidiaries that affect the scope of consolidation): None
  2. Changes in accounting policies; changes in accounting estimates
  1. Changes in accounting policies required by IFRS: None
  2. Other changes in accounting policies: None
  3. Changes in accounting estimates: None
  1. Number of shares issued and outstanding (common stock)
  1. Number of shares issued and outstanding at the end of the period (including treasury shares)

Jun. 30, 2023:

40,800,000

shares

Mar. 31, 2023:

40,800,000

shares

2) Number of treasury shares at the end of the period

Jun. 30, 2023:

1,482,894

shares

Mar. 31, 2023:

1,486,460

shares

3) Average number of shares outstanding during the period

Three months ended

39,314,489

shares

Three months ended

39,874,686

shares

Jun. 30, 2023:

Jun. 30, 2022:

Note: The numbers of treasury shares at the end of the periods include shares of the Company held by the trust account set up after the introduction of a Performance-linked Stock Compensation Plan for the Company's Members of the Board and Executive Officers (44,824 shares as of June 30, 2023 and 48,600 shares as of March 31, 2023). Shares of the Company held by the trust account are included in the treasury shares to be deducted in the calculation of the average number of shares outstanding during the period.

  • Indication regarding execution of audit procedures

This quarterly financial results report is outside the scope of quarterly review by certified public accountants or an audit corporation.

  • Appropriate use of business forecasts and other special items

In this document, statements other than historical facts are forward-looking statements that reflect the Company's plans and expectations. These forward-looking statements involve risks, uncertainties and other factors that may cause our actual results and achievements to differ from those anticipated in these statements.

NIPPON SHOKUBAI CO., LTD. (4114) Financial Results

For the First Quarter of the Fiscal Year Ending March 31, 2024

2. Condensed Quarterly Consolidated Financial Statements and Related Notes

(1) Condensed Quarterly Consolidated Statements of Financial Position

(Unit: Millions of yen)

FY2022

1Q-FY2023

As of Mar. 31, 2023

As of Jun. 30, 2023

Assets

Current assets

Cash and cash equivalents

39,035

38,938

Trade receivables

98,571

99,390

Inventories

86,056

87,940

Other financial assets

14,151

15,578

Other current assets

6,239

7,036

Total current assets

244,053

248,883

Non-current assets

Property, plant and equipment

189,520

194,044

Intangible assets

8,358

8,621

Investments accounted for using equity method

27,088

25,835

Other financial assets

40,195

43,902

Retirement benefit asset

9,129

9,154

Deferred tax assets

3,404

3,706

Other non-current assets

1,573

1,588

Total non-current assets

279,266

286,849

Total assets

523,319

535,732

1

NIPPON SHOKUBAI

CO., LTD. (4114) Financial Results

For the First Quarter of the Fiscal Year Ending March 31, 2024

(Unit: Millions of yen)

FY2022

1Q-FY2023

As of Mar. 31, 2023

As of Jun. 30, 2023

Liabilities and equity

Liabilities

Current liabilities

Trade payables

53,138

55,010

Borrowings

23,044

20,543

Other financial liabilities

9,539

10,890

Income taxes payable

3,970

1,920

Provisions

6,672

8,078

Other current liabilities

5,278

5,170

Total current liabilities

101,641

101,610

Non-current liabilities

Borrowings

27,867

27,326

Other financial liabilities

5,961

5,944

Retirement benefit liability

8,941

9,056

Provisions

2,582

2,815

Deferred tax liabilities

6,330

7,647

Total non-current liabilities

51,681

52,788

Total liabilities

153,321

154,399

Equity

Share capital

25,038

25,038

Capital surplus

22,520

22,513

Treasury shares

(9,298)

(9,276)

Retained earnings

301,940

302,983

Other components of equity

22,030

31,931

Total equity attributable to owners of parent

362,231

373,190

Non-controlling interests

7,767

8,142

Total equity

369,998

381,333

Total liabilities and equity

523,319

535,732

2

NIPPON SHOKUBAI CO., LTD. (4114) Financial Results

For the First Quarter of the Fiscal Year Ending March 31, 2024

  1. Condensed Quarterly Consolidated Statements of Profit or Loss and Condensed Quarterly Consolidated Statements of Comprehensive Income
    Condensed Quarterly Consolidated Statements of Profit or Loss

Three months ended June 30, 2022 and 2023

(Unit: Millions of yen)

1Q-FY 2022

1Q-FY 2023

Apr. 1, 2022 to Jun. 30, 2022

Apr. 1, 2023 to Jun. 30, 2023

Revenue

111,505

97,362

Cost of sales

88,372

79,964

Gross profit

23,133

17,398

Selling, general and administrative expenses

14,373

12,289

Other operating income

624

1,791

Other operating expenses

357

178

Operating profit

9,026

6,721

Finance income

946

1,075

Finance costs

84

392

Share of profit (loss) of investments accounted

1,235

(385)

for using equity method

Profit before tax

11,122

7,019

Income tax expense

3,300

1,759

Profit

7,822

5,260

Profit attributable to

Owners of parent

7,591

4,575

Non-controlling interests

231

685

Profit

7,822

5,260

Earnings per share

Basic earnings per share (Yen)

190.37

116.37

Diluted earnings per share (Yen)

-

116.35

3

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Nippon Shokubai Co. Ltd. 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 04:07:07 UTC.