Consolidated Financial Summary (Japanese Accounting Standards) (For the six months ended September 30, 2022)
October 26, 2022 | |
Listed company: Shin-Etsu Polymer Co., Ltd. | |
Listing code: | No. 7970 (URL https://www.shinpoly.co.jp/en/) |
Listing stock exchange: | Tokyo |
Representative: | Yoshiaki Ono, President, Chief Executive Officer |
Person to contact: | Osamu Kowada, Executive Officer, General Manager of Accounting & Finance Department |
TEL: +81-3-5288-8406 |
Scheduled date to submit the Quarterly Securities Report: | November 11, 2022 |
Scheduled date of dividend payout: | November 25, 2022 |
Supplementary documents for quarterly results: | Yes |
Quarterly results briefing: | Yes (for analysts) |
(Amounts under a million yen are truncated.) |
1. Consolidated Financial Highlights for the First Half of the Fiscal Year Ending March 31, 2023 (April 1, 2022 to September 30, 2022)
- Consolidated Financial Results (The percentages indicate the rates of increase or decrease compared with the preceding fiscal year.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | |||||
owners of parent | ||||||||
April - September 30, 2022 | Million yen | % | Million yen | % | Million yen | % | Million yen | % |
52,549 | 20.2 | 6,643 | 45.0 | 7,384 | 57.0 | 5,033 | 44.2 | |
April - September 30, 2021 | 43,719 | 22.1 | 4,582 | 69.4 | 4,704 | 60.7 | 3,489 | 62.2 |
(Note) Comprehensive income (loss): September 30, 2022: ¥11,207 million (98.3%); September 30, 2021: ¥5,653 million (373.3%)
Basic earnings | Diluted earnings | |
per share | per share | |
April - September 30, 2022 | Yen | Yen |
62.42 | 62.11 | |
April - September 30, 2021 | 43.13 | 42.99 |
(2) Consolidated Financial Position
Total assets | Net assets | Equity ratio | |||
Six months ended | Million yen | Million yen | % | ||
135,772 | 104,624 | 76.7 | |||
September 30, 2022 | |||||
Year ended March 31, 2022 | 122,577 | 94,337 | 76.7 | ||
(Reference) Equity capital: September 30, 2022: ¥104,192 million; March 31, 2022: ¥93,995 million |
2. Dividends
Dividend per share | ||||||||
1st quarter | 2nd quarter | 3rd quarter | Year-end | Annual | ||||
Yen | Yen | Yen | Yen | Yen | ||||
March 2022 | - | 12.00 | - | 14.00 | 26.00 | |||
March 2023 | - | 18.00 | ||||||
March 2023 | - | 18.00 | 36.00 | |||||
(forecast) | ||||||||
(Note) Revisions to dividend forecasts published | most recently: None |
3. Consolidated Financial Forecasts for the Fiscal Year Ending March 31, 2023 (April 1, 2022 to March 31, 2023)
(The percentages indicate the year-on-year change.)
Net sales | Operating profit | Ordinary profit | Profit attributable to | Basic earnings | |||||
owners of parent | per share | ||||||||
Full year | Million yen | % | Million yen | % | Million yen | % | Million yen | % | Yen |
108,000 | 16.6 | 12,000 | 23.3 | 12,500 | 23.4 | 8,800 | 39.5 | 109.18 |
(Note) Revisions to financial forecasts published most recently: None
* Notes
- Any changes in important subsidiaries during the six months ended September 30, 2022 (any changes in specific subsidiaries accompanied by a change in the scope of consolidating): None
Newly added: None | , Eliminated: None |
- Adoption of accounting treatment unique to the preparation of quarterly consolidated financial statements: None
- Any changes in accounting policies and changes or restatement of accounting estimates
1. | Changes in accounting policies associated with the revision of accounting standards, etc.: | None |
2. | Changes in accounting policies other than the above: | None |
3. | Changes in accounting estimates: | None |
4. | Restatement: | None |
(4) Number of shares issued (common stock) | |||
1. | Number of shares issued as of the term end (including treasury shares): | September 2022 | 82,623,376 shares |
March 2022 | 82,623,376 shares | ||
2. | Number of treasury shares as of the term end: | September 2022 | 1,915,531 shares |
March 2022 | 2,025,709 shares | ||
3. | Average number of shares during the term: | September 2022 | 80,639,442 shares |
September 2021 | 80,913,550 shares |
The consolidated financial summary is not included in the scope of the quarterly review by certified public accountants or audit corporations.
Statement regarding the proper use of financial forecasts and other special remarks(Caution regarding forward-looking statements)
The forward-looking statements, such as results forecasts, included in this document are based on information currently available to the Company and certain assumptions considered reasonable, and the Company makes no representations as to their achievability. Actual results may differ materially, depending on a range of factors.
(Method of obtaining presentation material for business result meeting)
The Company will hold a business result meeting for analysts on November 8, 2022. The presentation material used at this meeting will be posted on the Company's website by the day before the meeting.
Shin-Etsu Polymer Co., Ltd. (7970) Financial Summary (For the six months ended September 30, 2022)
Accompanying Materials - Contents | ||
1. Qualitative Information on Consolidated Results, etc. for the Six-Month Period Ended September | ||
30, 2022................................................................................................................................................ | 2 | |
(1) | Qualitative Information on Consolidated Results .................................................................................. | 2 |
(2) | Explanation of Information on Future Forecasts Such as Consolidated Financial Forecasts ................ | 3 |
2. Consolidated Quarterly Financial Statements and Key Notes.............................................................. | 4 | |
(1) | Consolidated Balance Sheet................................................................................................................... | 4 |
(2) | Consolidated Statements of Income and Consolidated Statement of Comprehensive Income.............. | 6 |
(3) | Consolidated Statement of Cash Flows ................................................................................................. | 8 |
(4) | Explanatory Notes to Consolidated Financial Statements ..................................................................... | 9 |
(Notes on the Premise of a Going Concern) .......................................................................................... | 9 | |
(Notes on Significant Changes in Shareholders' Equity (if any)).......................................................... | 9 | |
(Segment Information)........................................................................................................................... | 9 |
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Shin-Etsu Polymer Co., Ltd. (7970) Financial Summary (For the six months ended September 30, 2022)
1. Qualitative Information on Consolidated Results, etc. for the Six-Month Period Ended September 30, 2022
(1) Qualitative Information on Consolidated Results
During the first six months of the consolidated fiscal year under review, downside risks increased for the global economy due to sharp price increases and supply constraints, among other factors, despite signs of recovery against the backdrop of the progress in a shift of lifestyles to the new stage of living with COVID-19. In the United States, the economy remained firm, partly reflecting a rise in the number of people employed and an expansion in consumption. However, the risk of an economic slowdown increased due to the successive implementation of monetary policies. In Europe, procuring energy continued to be difficult, and the economic recovery slowed due to surging commodity prices. In Asia, economic growth in China slowed, reflecting sluggish production activities associated with lockdowns. In contrast, economic recovery was in evidence in India and the ASEAN region.
In the Japanese economy, corporate capital expenditure and consumer spending picked up. Meanwhile, exports remained flat.
The Group's business environment remained favorable overall, thanks to continued growth in demand in the semiconductor industry, although demand remained flat in the automotive-related industry.
In this operating environment, the Group continued to focus its sales activities on boosting sales of both key products and new businesses in Japan and overseas, to expand the production/supply systems as well.
As a result, consolidated net sales stood at ¥52,549 million (up 20.2% year on year). Operating profit amounted to ¥6,643 million (up 45.0% year on year), ordinary profit was ¥7,384 million (up 57.0% year on year), and profit attributable to owners of parent came to ¥5,033 million (up 44.2% year on year) for the six months under review.
Consolidated results by segment are as follows.
1) Electronic Devices segment
In the Electronic Devices segment, shipments of automotive input devices decreased chiefly due to a shortage of procurable parts in the automotive industry. Nonetheless, overall sales were higher than the year-ago level, reflecting the broader application of price revisions and impact of exchange rates.
Overall sales for input devices remained flat from a year earlier due to solid shipments of touchpads for slim notebook personal computers and the broader application of price revisions, which offset decreased automotive key switch shipments.
Overall sales for display-related products expanded thanks to the strong shipments of view/light path control film (VCF), although LCD connector shipments remained at the year-ago level.
Sales for component-related products grew, reflecting strong shipments of in-vehicle silicone molded products and automotive windshield wipers.
As a result, net sales for the segment amounted to 11,887 million (up 5.6% year on year), and operating profit for the segment came to ¥818 million (up 18.3% year on year).
2) Precision Molding Products segment
In the Precision Molding Products segment, overall sales far surpassed the year-ago level, reflecting continued strength in shipments of semiconductor-related containers, office automation equipment parts, and silicon rubber molded products, coupled partly with the impact of exchange rates.
Overall sales for semiconductor-related containers grew sharply, reflecting strong shipments of 300-mm wafer shipping containers and other products with lively demand in the semiconductor industry in the background. Sales of office automation equipment increased significantly due to strong shipments of rollers for laser printers, or mainstay products.
Sales of carrier tape-related products decreased. Shipments of carrier tapes for micro electronic parts saw sluggish growth.
Sales of silicone rubber molded products rose overall, reflecting a recovery in sales of mainstay medical equipment due to the normalization of medical services in the living-with-COVID-19 condition.
As a result, segment sales stood at ¥24,372 million (up 24.8% year on year) and operating profit was ¥5,252 million (up 55.3% year on year).
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Shin-Etsu Polymer Co., Ltd. (7970) Financial Summary (For the six months ended September 30, 2022)
3) Housing & Living Materials segment
In the Housing & Living Materials segment, the Company revised sales prices and carried out M&A in the extremely difficult market environment for PVC products. Overall sales for the segment rose significantly from a year earlier.
Sales of packing materials such as wrapping films increased significantly, reflecting the consolidation of Kitche Nista Co., Ltd.
Shipments of PVC pipes and related products remained sluggish, but sales climbed due to price revisions. Sales of functional compounds rose significantly because shipments to new customers expanded and demand for applications in robot cables for industrial machinery remained strong.
Overall sales for exterior materials remained at the year-earlier level, despite sluggish growth in demand, due to revisions to sales prices.
Sales for conductive polymer rose steadily due to increased orders for automotive electronic component applications, which more than offset sluggish demand for display applications.
As a result, segment sales stood at ¥12,981 million (up 34.1% year on year) and operating profit was ¥442 million (up 21.8% year on year).
4) Others segment
Overall sales were unchanged year on year, reflecting solid orders for the interior construction of commercial facilities and public facilities in the construction business.
As a result, segment sales stood at ¥3,307 million (up 1.8% year on year) and operating profit was ¥130 million (down 9.9% year on year).
(2) Explanation of Information on Future Forecasts Such as Consolidated Financial Forecasts
Consolidated financial forecasts for the fiscal year ending March 31, 2023 published on July 26, 2022 remain unchanged.
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Shin-Etsu Polymer Co. Ltd. published this content on 28 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2022 01:52:04 UTC.