Nippon Kayaku : Summary of Consolidated Financial Results For the Second Quarter of the Fiscal Year Ending March 31, 2022 – marketscreener.com

Posted on

Summary of Consolidated Financial Results [Japanese GAAP]
For the Second Quarter of the Fiscal Year Ending March 31, 2022
November 9, 2021
Listed company: Nippon Kayaku Co., Ltd.
Listed stock exchange: First Section, Tokyo Stock Exchange
Code No.: 4272 URL: https://www.nipponkayaku.co.jp/english/
Representative (name, position): Atsuhiro Wakumoto, President
Director in charge of inquiries: Tsutomu Kawamura, Executive Director, General Manager of Finance & Accounting Division, Financial Group
Filing date of quarterly securities report: November 11, 2021
Scheduled date for start of dividend payments: December 1, 2021
Preparation of supplementary materials for quarterly financial results: Yes
Quarterly results presentation meeting: Yes (for securities analysts and institutional investors)
1. Consolidated Business Results for the Second Quarter of the Fiscal Year Ending March 31, 2022 (April 1, 2021-September 30, 2021)
(Figures shown are rounded down to the nearest million yen.)
(1) Consolidated Operating Results
(Percentages indicate amount of change from the same period of the previous fiscal year.)
Net sales
Operating income
Ordinary income
Profit attributable to
owners of parent
First half of fiscal
Million yen
%
Million yen
%
Million yen
%
Million yen
%
year ending
88,840
10.3
10,902
56.3
11,828
61.1
9,205
88.5
March 31, 2022
First half of fiscal
year ended March
80,518
(5.9)
6,976
(22.9)
7,341
(19.8)
4,883
(22.9)
31, 2021
Note: Comprehensive income
First half of fiscal year ending March 31, 2022:
10,655 million yen (32.6%)
First half of fiscal year ended March 31, 2021:
8,035 million yen (356.6%)
Profit attributable to owners
Profit attributable to owners
of parent per share-primary
of parent per share-diluted
First half of fiscal
Yen
Yen
year ending
54.27
54.26
March 31, 2022
First half of fiscal
year ended March
28.59

31, 2021
Note: Profit attributable to owners of parent per share-diluted for the first half of the fiscal year ended March 31, 2021 is indicated with a dash (-) because the dilutive shares that do exist do not have a significant dilutive effect.
(2) Consolidated Financial Position
Total assets
Net assets
Equity ratio
As of September
Million yen
Million yen
%
301,957
233,460
77.0
30, 2021
As of March 31,
294,535
228,273
77.2
2021
Reference: Equity As of September 30, 2021
232,653 million yen
As of March 31, 2021
227,506 million yen
This document is an English translation of the Japanese-language original.
All financial information has been prepared in accordance with generally accepted accounting principles in Japan.
Nippon Kayaku Co., Ltd.
Summary of Consolidated Financial Results [Japanese GAAP]
For the Second Quarter of the Fiscal Year Ending March 31, 2022
2. Status of Dividends
Dividend amount per share
End of first
End of second
End of third
End of year
Year
quarter
quarter
quarter
Yen
Fiscal year ended

15.00

15.00
30.00
March 31, 2021
Fiscal year ending

15.00
March 31, 2022
Fiscal year ending
March 31, 2022

15.00
30.00
(forecast)
Note: Changes to the most recent dividend forecast: None
3. Consolidated Business Results Forecasts for the Fiscal Year Ending March 31, 2022 (April 1, 2021- March 31, 2022)
(Percentages indicate amount of change from the same period of the previous fiscal year.)
Net sales
Operating income
Ordinary income
Profit attributable to
Profit attributable to
owners of parent
owners
of parent per share
Full
Million yen
%
Million yen
%
Million yen
%
Million yen
%
Yen
184,000
6.1
18,900
24.4
20,100
21.5
15,200
20.9
89.60
year
Note: Changes to the most recent forecast for consolidated business results: Yes
See “Notice of Revision to the Business Results Forecasts” disclosed today concerning the revision to the business results forecasts.
Notes
Note: See “2. Quarterly Consolidated Financial Statements and Notes to Quarterly Consolidated Financial Statements, (4) Notes to Quarterly Consolidated Financial Statements (Changes to Accounting Policies)” on page 11 for further details.
(Disclaimer concerning forward-looking statements)
The information in this report constitutes forward-looking statements regarding future events and performance. This information is based on the beliefs and assumptions of management in light of information currently available to it at the time of announcement and subject to a number of uncertainties that may affect future results. Actual business results may differ substantially from the forecasts herein due to various factors. For matters pertaining to business forecasts, please refer to “(3) Analysis of Forward-looking Statements, Including Consolidated Business Results
This document is an English translation of the Japanese-language original.
All financial information has been prepared in accordance with generally accepted accounting principles in Japan.
Nippon Kayaku Co., Ltd.
Summary of Consolidated Financial Results [Japanese GAAP]
For the Second Quarter of the Fiscal Year Ending March 31, 2022
Forecasts” on page 3 of the Supplementary Information.
(How to obtain the materials for the briefing on quarterly financial results)
We have scheduled a teleconference for securities analysts and institutional investors on Wednesday, November 10, 2021. The materials for the briefing will be posted on the corporate website.
This document is an English translation of the Japanese-language original.
All financial information has been prepared in accordance with generally accepted accounting principles in Japan.
Nippon Kayaku Co., Ltd.
Summary of Consolidated Financial Results [Japanese GAAP]
For the Second Quarter of the Fiscal Year Ending March 31, 2022
Supplementary Information
Contents
1. Qualitative Information Concerning Results for the Second Quarter
2
(1) Analysis of Operating Results
2
(2) Analysis of Financial Position
3
(3) Analysis of Forward-looking Statements, Including Consolidated Business Results Forecasts
3
2. Quarterly Consolidated Financial Statements and Notes to Quarterly Consolidated Financial
5
Statements
(1)
Consolidated Balance Sheets
5
(2)
Consolidated Statements of Income & Consolidated Statements of Comprehensive Income
7
(3)
Consolidated Statements of Cash Flows
9
(4)
Notes to Quarterly Consolidated Financial Statements
11
(Notes Regarding Assumptions for the Going Concern)
11
(Notes in Case of Significant Change in Shareholders’ Equity)
11
(Changes to Accounting Policies)
11
(Segment Information and Other Items)
12
This document is an English translation of the Japanese-language original.
All financial information has been prepared in accordance with generally accepted accounting principles in Japan.
―1―
Nippon Kayaku Co., Ltd.
Summary of Consolidated Financial Results [Japanese GAAP]
For the Second Quarter of the Fiscal Year Ending March 31, 2022
1. Qualitative Information Concerning Results for the Second Quarter
(1) Analysis of Operating Results
During the first half of this consolidated fiscal year (April 1 to September 30, 2021), the global economy saw economic activity begin to return to normal and signs of economic recovery, due in part to progress on vaccinations for the novel coronavirus (COVID-19). While the recovery of the Japanese economy is lagging compared to Europe and the U.S., business sentiment has improved. However, the impacts of the semiconductor shortage and the automobile industry production cuts due to difficulty of procuring parts accompanying the spread of COVID-19 in Southeast Asia were exacerbated in Japan and overseas, particularly in the second quarter of this consolidated fiscal year. Concerns over deceleration of the Chinese economy also remain.
Amid these conditions, the Nippon Kayaku Group worked to implement the key themes and resolve the mid- and long-term key issues outlined in “KAYAKU Next Stage,” the mid-term business plan launched in the fiscal year ended March 31, 2020, while also making active use of staggered working hours, telecommuting, and other systems amid the restrictions imposed on corporate activities. We took these steps to ensure the safety of employees working in the Company and at Group companies while also implementing a new lifestyle and promote efficient workstyles aimed at minimizing the impact on our business.
As a result, net sales for the first half of this consolidated fiscal year totaled 88,840 million yen, an increase of 8,321 million yen (10.3%) year-on-year. Sales in all of the businesses outperformed the first half of the previous fiscal year.
Operating income totaled 10,902 million yen, an increase of 3,925 million yen (56.3%) year-on-year. Ordinary income totaled 11,828 million yen, an increase of 4,487 million yen (61.1%) year-on-year.
Profit attributable to owners of parent was 9,205 million yen, an increase of 4,322 million yen (88.5%) year-on-year.
Regarding changes in accounting policies, the Company implemented the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, revised March 31, 2020) and other guidance from the beginning of the first quarter of this consolidated fiscal year. We have therefore used numbers based on calculation methods subject to different standards than in the same period of the previous fiscal year. See 2. Quarterly Consolidated Financial Statements and Notes to Quarterly Consolidated Financial Statements, (4) Notes to Quarterly Consolidated Financial Statements (Changes to Accounting Policies) for further details.
Performance by business segment is as described below.
[Functional Chemicals Business]
Sales stood at 37,612 million yen, an increase of 2,762 million yen (7.9%) year-on-year.
The Functional Materials Business as a whole outperformed the first half of the previous fiscal year. The outperformance resulted from strong sales of epoxy resins used in semiconductor encapsulation, circuit boards, and LCD cleaners from increased demand for IT equipment due to telecommuting, in addition to the proliferation of high-speed (5G) communications devices and IoT, and the increasingly sophisticated electronic equipment in vehicles.
The Color Materials Business as a whole outperformed the first half of the previous fiscal year. This outperformance was due to a rebound in demand for colorants for inkjet printers in industrial applications, in addition to strong sales of colorants for inkjet printers for consumer use.
The Catalyst Business underperformed the first half of the previous fiscal year because of the lull between customer replacement periods.
In the Polatechno Business, a rebound in demand for polarizing films for LCD projectors and dye-type polarizing films, in addition to strong sales of components for X-ray analysis systems resulted in outperformance of the Polatechno Business as a whole, compared with the first half of the previous fiscal year.
Segment profit totaled 6,074 million yen, an increase of 2,427 million yen (66.6%) year-on-year. This increase resulted from growth in net sales in each business.
[Pharmaceuticals Business]
Sales stood at 25,534 million yen, an increase of 400 million yen (1.6%) year-on-year.
Pharmaceuticals in Japan underperformed the first half of the previous fiscal year due to the impact from drug price revisions, despite market penetration of PORTRAZZA®, a biomedicine; the switch to antibody biosimilars, TRASTUZUMAB BS and INFLIXIMAB BS; growth in sales of a cancer-related generic, APREPITANT capsule; and the launch of the new generic anti-cancer drug PEMETREXED in July.
Sales of active pharmaceutical ingredients for the Japanese domestic market underperformed while exports, and sales of contract production and diagnostic drugs outperformed the same period of the previous fiscal year.
Segment profit totaled 4,115 million yen, a decrease of 218 million yen (5.0%) year-on-year. This resulted from the impact of drug price revisions, in addition to increased expenses related to sales activities adjusted to the new life style and progress on R&D activities.
This document is an English translation of the Japanese-language original.
All financial information has been prepared in accordance with generally accepted accounting principles in Japan.
―2―
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Disclaimer
Nippon Kayaku Co. Ltd. published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2021 01:26:07 UTC.

source

Leave a Reply

Your email address will not be published.