TOYO GOSEI CO.,LTD. Business Results for the
Fiscal Year Ended March 31, 2023
(April 1, 2022 - March 31, 2023)
May 19, 2023
1
１．Business Results for the FY 2022
２．Projection for the FY2023
３．Future Outlook
2
External Environment
- Inflation accelerated worldwide due to the recovery from the COVID-19 disaster and the invasion to Ukraine.
- Naphtha price soared 2.5 times in 2 years. Although resource prices have peaked out, it remains high.
- Electricity rates have doubled in two years and continue to rise.
(¥/KL) | Naphtha Prices | (¥/kwh) | |
25.00 | |||
100,000 | 2.5 times | ||
¥86,100/KL | |||
80,000 | in 2 years | ¥80,000/KL | |
20.00 | |||
60,000 | 15.00 | ||
40,000 | |||
20,000 | 10.00 | ||
FY2020 | FY2021 | FY2022 | |
0 | 5.00 | ||
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 |
2020 | 2021 | 2022 |
Electricity Unit price
2 times | ¥21.6/kwh | |
in 2 years | ¥18.3/kwh | |
FY2020 | FY2021 | FY2022 |
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 |
2020 | 2021 | 2022 |
Source: EIC, Amerex Energy Com. 3
Semiconductor / Display Markets
- CY2021: Demand, including inventory piling up demand, expanded due to stay-at-home demand and logistics turmoil due to the COVID-19 pandemic.
- CY2022: Declining demand due to slowdown in consumption and optimization of inventory levels. However, cutting-edge semiconductors remained firm.
- CY2023: Moderate recovery trend after bottoming out in April-June.
(billion $) | Semiconductor Market Trend | (M m2) | Display Area Demand Trend | |||||||||||||||
160 | FY2021 | FY2022 | 80 | FY2021 | FY2022 | |||||||||||||
LCD | OLED | |||||||||||||||||
140 | ||||||||||||||||||
120 | 60 | |||||||||||||||||
100 | ||||||||||||||||||
40 | ||||||||||||||||||
80 | ||||||||||||||||||
60 | 20 | |||||||||||||||||
Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |||
2021 | 2022 | 2023 | 2021 | 2022 | 2023 | |||||||||||||
Source: WSTS, DSCC | 4 |
Financial Results for the FY2022
- Sales increased 1.01 billion yen YOY due to strong demand for advanced semiconductor materials amid a slowdown in demand for general products.
- Profit reached a highest record as higher fixed costs were absorbed by expanded sales of high-value-added products and improved productivity.
- Compared to the earnings forecast, both ordinary income and net income exceeded although the sales fell short of the forecast.
FY2021 Results | FY2022 | FY2022 Results | |
(Million yen) | Projections | ||
Net sales | 33,144 | 35,000 | 34,156 |
Operating profit | 4,624 | 5,150 | 4,968 |
Ordinary profit | 4,794 | 5,000 | 5,122 |
Profit | 3,457 | 3,500 | 3,827 |
YoY | |
Change | % |
+1,012 | +3% |
+344 | +7% |
+327 | +7% |
+369 | +11% |
Comparison with Forecasts
Change | YoY | ||
(843) | (2%) | ||
(181) | (4%) | ||
+122 | +2% | ||
+327 | +9% | ||
EPS | 435 | 440 | 482 |
Interim Dividends | 30 | 40 | 40 |
FX Rate (USD) | ¥112/$ | ¥138/$ | ¥135/$ |
5
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Disclaimer
Toyo Gosei Co. Ltd. published this content on 26 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 May 2023 09:40:09 UTC.
