OHARA INC. Presentation of Financial Results
Fiscal Year Ended October 31, 2023
OHARA INC. (Code: 5218)
Dec.14th.2023
CONTENTS
- Overview of FY2023
- Main Points of Results
- Summary of Results
- Optical Business
- Electronics Business
- Factors for Changes in Operating profit/loss
- Statement of Cash Flows
- Outlook for FY2024
- Summary of Results Forecasts
- Explanation of future business environment
- Forecasts for the Optical Business
- Forecasts for the Electronics Business
- Summary of semi-annual changes
- Capital Expenditure, Depreciation, and Research and Development
2
Overview of FY2023
Main Points of Results
Business Environment
■The recovery trend continued, reflecting progress in efforts to institute infection prevention measures while simultaneously facilitating economic activity, despite the continuing impact of the COVID-19 pandemic.
■The outlook remained uncertain, mainly reflecting the Russia-Ukraine war, weakness in the real estate market in China, the acceleration of global inflation due to high resource prices, as well as foreign exchange rate instability.
■The digital camera market remained firm, mainly due to increased sales of mirrorless cameras.
■In the exposure device market, FPD exposure devices remained weak, but semiconductor exposure devices remained firm.
Company Results
■Net sales decreased 0.6% year on year, mainly due to lower sales of lens materials for optical equipment due to inventory adjustments in the supply chain, despite higher sales of high homogeneity optical glass for semiconductor exposure devices.
■Operating profit decreased 25.0% year on year, reflecting the impact of increasing raw material and fuel costs, increasing in SG&A expenses, a decline in the operation rate of production facilities, despite a rise in sales of high value-added products.
1_ Overview of FY2023 | Copyright© 2023 OHARA INC. All Rights Reserved. | 4 |
Summary of Results
（Million yen, %） | |||||
FY2022 | FY2023 | Change | |||
Net Sales | 28,304 | 28,123 | (181) | ||
(0.6)% | |||||
Operating | 2,976 | 2,233 | (742) | ||
Profit | |||||
[Operating | 10.5% | 7.9% | (25.0)% | ||
profit ratio] | |||||
Ordinary | 3,665 | 2,603 | (1,062) | ||
Profit | |||||
[Ordinary profit | 13.0% | 9.3% | (29.0)% | ||
ratio] | |||||
Net Profit | 2,116 | 1,572 | (544) | ||
(attributable to owners | |||||
of parent) | |||||
[Net profit | 7.5% | 5.6% | (25.7)% | ||
ratio] | |||||
Exchange Rate | Average for | Average for | |||
the period | the period | ||||
Yen/USD | 127.39 | 139.28 | |||
Yen/euro | 135.64 | 149.49 | |||
Breakdown of net sales
Pressed optical glass products | Block optical glass products | |||
（Million yen） | Special glass and glass-ceramics | Quartz glass | ||
8,000 | 6,886 | 7,370 | 7,343 | 7,044 | 7,510 | 6,893 | ||
6,703 | 6,673 | |||||||
6,000 | 3,032 | 3,265 | 3,320 | 3,206 | 3,272 | 3,088 | ||
2,767 | ||||||||
3,235 | ||||||||
4,000 | 1,097 | 1,031 | 964 | 610 | ||||
1,002 | 995 | 898 | ||||||
912 | ||||||||
2,000 | 1,481 | 1,598 | 1,677 | 1,891 | 1,848 | 2,218 | 1,752 | 2,131 |
0 | 1,074 | 1,252 | 1,328 | 1,100 | 995 | 1,055 | 1,155 | 1,164 |
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | |
FY2022 | FY2023 |
Breakdown of operating profit
（Million yen） | Optical Business | Electronics Business | Total | |||
1,500
923 | 937 | |||||
1,000 | 748 | 747 | ||||
640 | ||||||
556 | 332 | 552 | ||||
426 | ||||||
255 | 214 | |||||
500 | 259 | ||||||
605 | 672 | 658 | |||||
493 | 497 | 533 | 337 | ||||
296 | |||||||
0 | (31) | (106) | 103 | ||||
(234) | |||||||
△500
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q |
FY2022 | FY2023 |
1_ Overview of FY2023 | Copyright© 2023 OHARA INC. All Rights Reserved. | 5 |
Optical Business
Full-year comparison
Net sales of pressed optical glass products
Net sales of block optical glass products
Operating income
(Million yen)
18,00016,900
Quarterly changes |
Net sales of pressed optical glass products |
Net sales of block optical glass products |
Operating income |
(Million yen) |
5,000 |
16,000
14,000
15,802
4,500 | 4,363 | 4,352 | |||
4,148 | 4,035 | 4,201 | 4,237 | ||
4,000 | 3,986 | ||||
3,378 | |||||
3,500 | |||||
12,000 | |
10,000 | 12,855 |
12,334 | |
8,000 |
6,000
4,000
2,000 | 4,044 | 3,468 |
0 | 1,156 | |
(40)
(2,000)
FY2022FY2023
3,000 | ||||||||||
3,235 | 3,032 | 3,265 | 3,320 | 3,206 | 3,272 | |||||
2,500 | ||||||||||
3,088 | ||||||||||
2,000 | 2,767 | |||||||||
1,500 | ||||||||||
1,000 | ||||||||||
1,002 | 1,097 | 1,031 | ||||||||
500 | 912 | 995 | 964 | 898 | 610 | |||||
426 | ||||||||||
0 | 255 | 259 | 214 | 332 | ||||||
(500) | (31) | (106) | (234) | |||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | |||
FY2022 | FY2023 |
1_ Overview of FY2023 | Copyright© 2023 OHARA INC. All Rights Reserved. | 6 |
Electronics Business
Full-year comparison
Net sales of special glass and glass-ceramics
Net sales of quartz glass
Operating profit
(Million yen)
15,000
12,320
12,00011,404
9,000
6,6487,950
6,000
3,000 | 4,755 | 4,370 |
1,820 | 2,274 | |
0 | ||
FY2022 | FY2023 |
Quarterly changes
Net sales of special glass and glass-ceramics
Net sales of quartz glass
Operating income
(Million yen)
5,000
4,500
4,000
3,500 | 3,006 | 2,991 | 3,273 | 3,295 | |
3,000 | 2,850 | 2,843 | 2,907 | ||
2,555 | |||||
2,500 | |||||
1,598 | 1,677 | 1,891 | 2,218 | 2,131 | |
2,000 | 1,752 | ||||
1,848 | |||||
1,481 | |||||
1,500 | |||||
1,000 1,074 1,252 1,328 1,100 995 1,055 1,155 1,164
500 | 605 | 672 | 658 | ||||
493 | 497 | 533 | 337 | ||||
296 | |||||||
0 | |||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q |
FY2022 | FY2023 |
1_ Overview of FY2023 | Copyright© 2023 OHARA INC. All Rights Reserved. | 7 |
Factors for Changes in Operating profit/loss
Optical Business
(Million yen)
Effects of | Raw | |
volume and materials, | ||
unit prices | etc. | |
Energy | ||
200 | ||
cost rise |
- Deterioration in
productivity
1,156 | (280) | Other | ||
(580) | ||||
FY2022 | 54 | (40) | ||
FY2023 | ||||
Operating | Operating | |||
profit/loss | profit/loss |
Electronics Business
Improved | Deteriorated | ||
profitability of | profitability in | ||
special glass | quartz glass | ||
(Million yen) | |||
(147) | |||
600 | |||
2,274
1,820
FY2022 | FY2023 |
Operating | Operating |
profit/loss | profit/loss |
1_ Overview of FY2023 | Copyright© 2023 OHARA INC. All Rights Reserved. | 8 |
Statement of Cash Flows
Statement of Cash Flows
CF from | CF from | |||||
operating | ||||||
investing | ||||||
(Million yen) | activities | |||||
activities CF from | ||||||
financing | ||||||
Balance at | activities | Other | (Million yen) | |||
Balance at | ||||||
beginning of | 1,837 | |||||
(2,105) | end of | 8,000 | ||||
fiscal year | ||||||
(7) | 75 | fiscal year | ||||
6,000
Interest-bearing liabilities
（%）
Interest-bearing liabilities
Ratio of interest-bearing liabilities to total…
20.0%
15.0%
10.7%
14,134 | 4,000 |
13,934 | |
2,000
Decrease of 199 million yen in cash balance
0
9.8%
5,963
10.0%
6,596
5.0%
0.0%
End of FY2022 | End of FY2023 |
1_ Overview of FY2023 | Copyright© 2023 OHARA INC. All Rights Reserved. | 9 |
Outlook for FY2024
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Disclaimer
OHARA Inc. published this content on 14 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 December 2023 10:19:35 UTC.
