Toyobo Co., Ltd. · TSE:3101
Toyobo — H1 FY3/18 Earnings Presentation
16 slides from Toyobo's earnings presentation, Nov 10, 2017
Slide 1: Presentation to Investors
Presentation to Investors Seiji Narahara President Toyobo Co., Ltd. November 10, 2017 (Analysts’ Meeting)
Slide 2: Highlights
Highlights H1 FY 3/18 Results Operating profit was ¥10.5 billion (down 1.5%), and profit was ¥6.0 billion (up 65.3%) For “COSMOSHINE SRF,” focus was placed on the increase in production capacity. Sales of packaging film were struggling, led by a rise in raw material prices. Although sales of P
Slide 3: I. Results for H1 of FY 3/18
I. Results for H1 of FY 3/18
Slide 4: (1) Results for H1 FY 3/18 1) PL, CF
(1) Results for H1 FY 3/18 1)PL.CF \ bn. H1 H2 H1 Previous YoY forecasts FY 3/17 FY 3/17 FY 3/18 Am o u n t % (Aug, 2017) Net Sales 164.7 164.8 161.4 -3.3 -2.0% 165.0 Operating profit 10.7 12.7 10.5 -0.2 -1.5% 11.0 Ratio to sales 6.5% 7.7% 6.5% - - 6.7% Ordinary profit 8.7 11.9 9.1 +0.3 +3.8% 10.0 P
Slide 5: Analysis of Changes in Operating Profit
Analysis of Changes in Operating Profit [H1 FY 3/17 H1 FY 3/18] Depreciation Volume of yen increase (sales price) +0.6 +1.2 +0.1 Up in prices Others -0.5 Increase in raw material and fuel costs -1.6 10.5 10.7 10.5 10.7 H1 FY 3/17 H1 FY 3/18 (¥ bn.) H1 FY 3/17 H1 FY 3/18 Exchange rate 105 111 （\/US$
Slide 6: 2) BS
2) BS (A) (B) \ bn. Mar .3 1 , Mar . 3 1 , Se p. 3 0 , Change 2016 2017 2017 (A)→(B) Total asse ts 4 4 4 .6 4 5 0 .8 4 4 7 .4 -3.4 Cash an d de posits 2 0 .3 3 2 .3 2 5 .6 -6.8 In ve n tor y 7 5 .3 7 2 .8 7 1 .8 -1.0 Ne t asse ts 1 6 0 .1 1 7 0 .9 1 7 7 .2 +6.3 Sh ar e h olde r s' e qu ity 1 5 6 .9
Slide 7: (2) Results by Segment
(2) Results by Segment \ bn. Ne t Sale s Ope r at in g Pr o fit (lo ss) H1 H2 H1 H1 H2 H1 YoY FY 3 / 1 7 FY 3 / 1 7 FY 3 / 1 8 FY 3 / 1 7 FY 3 / 1 7 3/18 Film s & Fu n c t io n al Po lym e r s 69.1 69.5 73.1 6.0 6.7 6.4 +0.4 In du st r ial M at e r ials 28.9 31.0 30.5 1.7 2.1 2.2 +0.5 He alt h c ar
Slide 8: 1) Films & Functional Polymers
1) Films & Functional Polymers Sales of packaging film were struggling, led by a rise in raw material prices. For “COSMOSHINE SRF,” focus was placed on the increase in production capacity. Sales of mold release film also increased. Net sales (¥ bn.) Operating profit (¥ bn.) 69.1 69.5 73.1 6.0 6.7 6.
Slide 9: 2) Industrial Materials
2) Industrial Materials For airbag fabrics, the preparation for the sales expansion starting from the second half of the fiscal year under review was advanced. Sales of PPS materials for filter bags were recovering. Net sales (¥ bn.) Operating profit (¥ bn.) 28.9 31.0 30.5 1.7 2.1 2.2 (6.0%) (6.9%)
Slide 10: 3) Healthcare
3) Healthcare In the bio-science & medical business, profit from the contract manufacturing of pharmaceuticals decreased. In the membranes & environment business, sales of VOC emissions treatment equipment were increasing. Net sales (¥ bn.) Operating profit (¥ bn.) 18.0 18.5 16.3 2.2 3.0 1.7 (12.3%)
Slide 11: 4) Textiles and Trading
4) Textiles and Trading Sales of thoub cloth in the Middle East were weak because of the situation in the Middle East and other factors. Sales of some materials for sports apparel were sluggish. Net sales (¥ bn.) Operating profit (loss) (¥ bn.) 39.8 37.7 33.8 0.4 0.6 -0.2 (1.1%) (1.7%) (-0.5%) 19.7
Slide 12: II. Forecasts for FY 3/18
II. Forecasts for FY 3/18
Slide 13: (1) Forecasts for FY 3/18
(1) Forecasts for FY 3/18 \ bn. Previous FY 3 / 1 7 FY 3 / 1 8 (For e c asts) Chang e forecasts H1 H2 A mount % (Aug, 2017) Ne t sale s 329.5 161.4 178.6 340.0 +10.5 +3.2% 340.0 Ope r atin g pr ofit 23.3 10.5 14.5 25.0 +1.7 +7.1% 25.0 Ratio to sale s 7 .1 % 6 .5 % 8 .1 % 7 .4 % - - 7.4% Or din ar y
Slide 14: Analysis of Changes in Operating Profit [Forecasts: FY 3/17→ FY 3/18]
Analysis of Changes in Operating Profit [Forecasts: FY 3/17→ FY 3/18] Depreciation Volume of yen increase (sales price) Up in prices +3.0 +0.4 +1.5 Others -0.4 Increase in raw material and fuel costs 23.3 -2.8 25.0 FY 3/1 7 FY 3/18 (¥ bn.) H1 FY3/17 H1 FY 3/18 Exchange rate 109 112 （\/US$) Naptha pr
Slide 15: (2) Forecasts by Segment
(2) Forecasts by Segment \ bn. Previous Net Sales Operating Profit forecasts FY 3/18 (Forecasts) FY 3/18 (Forecasts) （Aug, 2017） FY 3/17 FY 3/17 H1 H2 H1 H2 Films & Functional Polymers 138.6 73.1 74.9 148.0 12.7 6.4 8.3 14.7 13.7 Industrial Materials 59.9 30.5 31.4 61.9 3.9 2.2 2.1 4.3 3.9 Healthcar
Slide 16: Please Note
Please Note The business performance forecasts and targets included in the business plans contained in this presentation are based on information known to the Company’s management as of the day of presentation. Please be aware that the content of the future forecasts may differ significantly from ac