Resonac Holdings Corporation · TSE:4004
Resonac — Showa Denko K.K. — Q3 2012 Earnings Presentation
26 slides from Resonac's earnings presentation, Nov 1, 2012
Slide 1: Third Quarter, 2012 Financial Results - Consolidated
Evolving unique chemical company Third Quarter, 2012 Financial Results - Consolidated - SHOWA DENKO K.K. November 1, 2012 Yoshikazu Sakai, CFO This presentation contains statements relating to management’s projections of future profits and expectations for the Company’s product development program.
Slide 2: Consolidated Companies and Selected Data
Consolidated Companies Consolidated subsidiaries: 38 (No changes from the end of June, 2012) Equity method applied: 18 (No changes from the end of June, 2012) Selected Data (Average) 2011 2012 Increase/decrease Jan.-Sept. Jul.-Sept. Jan.-Sept. Jul.-Sept. Jul.-Sept. Yen Yen Exchange rate: 80.7 7
Slide 3: Summary Jan.-Sept. 2011 vs 2012
Summary Jan. 1 – Sept. 30, 2011 v s. Jan. 1 – Sept. 30, 2012 (Unit: Billions of Yen) Jan.- Sept.2011 Jan.-Sept.2012 Increase/decrease Net Sales 641.6 546.9 -94.7 Operating Income 38.9 23.8 -15.0 Non-operating income and expense -6.1 -4.1 2.0 Interest/Dividend income less expenses -3.3 -2.7 0.6 Equit
Slide 4: Consolidated Sales by Segment
Consolidated Sales by Segment (Unit: Billions of Yen) Jan.-Sept. Jan.-Sept. Increase/ 2011 2012 decrease Olefins: sales decreased (shipment volumes down due to problem with equipment that occurred in 1H, 2012, weakened Petrochemicals 191.1 131.4 -59.7 supply and demand conditions) Organic chemicals:
Slide 5: Consolidated Operating Income by Segment
Consolidated Operating Income by Segment (Unit: Billions of Yen) Jan.-Sept. Jan.-Sept. Increase/ 2011 2012 decrease Olefins: profit decreased (shipment volumes down due to problem with equipment that occurred in 1H, 2012, weakened Petrochemicals 5.1 -2.2 -7.3 supply and demand conditions) Organic ch
Slide 6: Summary CQ3 2011 vs CQ3 2012
Summary CQ3 (Jul.1 – Sept.30), 2011 v s. CQ3 (Jul.1 – Sept.30), 2012 (Unit: Billions of Yen) CQ3, 2011 CQ3, 2012 Increase/decrease Net Sales 225.1 194.6 -30.5 Operating Income 16.8 7.8 -9.0 Non-operating income and expense -2.0 -2.5 -0.5 Interest/Dividend income less expenses -1.2 -0.9 0.2 Equity in
Slide 7: Consolidated Sales by Segment CQ3
Consolidated Sales by Segment CQ3 (Jul.1 – Sept.30), 2011 v s. CQ3 (Jul.1 – Sept.30), 2012 (Unit: Billions of Yen) CQ3, CQ3, Increase/ 2011 2012 decrease Olefins: sales decreased (price down) Petrochemicals 64.0 58.8 -5.2 Organic chemicals: sales decreased (shipment volumes of vinyl acetate, ethyl a
Slide 8: Consolidated Operating Income by Segment CQ3
Consolidated Operating Income by Segment CQ3 (Jul.1 – Sept.30), 2011 v s. CQ3 (Jul.1 – Sept.30), 2012 (Unit: Billions of Yen) CQ3, CQ3, Increase/ 2011 2012 decrease Olefins: profit decreased (price down, reduction of production) Petrochemicals 1.0 0.0 -1.0 Organic chemicals: profit decreased (shipme
Slide 9: Consolidated Balance Sheet
Consolidated Balance Sheet (Unit: Billions of Yen) Assets Dec.31, Sept.30, Increase/de Liabilities and Net Assets Dec.31, Sept.30, Increase/ 2011 2012 crease 2011 2012 decrease Cash and deposits 55.2 40.5 -14.7 Notes and accounts payable 117.2 111.1 -6.0 Notes and accounts receivable 139.4 155.4 16.
Slide 10: Total Assets, Interest-bearing Debt, D/E ratio and Equity ratio
Total Assets, Interest-bearing Debt, D/E ratio and Stockholders’ Equity ratio (Unit: Billions of Yen, times, %) Dec.31, 2011 Sept.30, 2012 Increase Total assets 941.3 943.7 2.4 Interest-bearing debt 347.3 371.5 24.2 Debt/Equity ratio 1.17times 1.23times 0.06p Stockholders’ Equity ratio 26.8%
Slide 11: Interest-bearing Debt
Interest-bearing Debt （Unit: Billions of Yen) 450.0 D/E Ratio 1.48 1.32 1.30 1.23 1.21 1.23 1.17 400.0 395.6 392.9 373.9 371.5 361.4 351.0 347.3 350.0 300.0 2007 2008 2009 2010 2011 2012 2012 Jun.30 Sept.30 Equity ratio 26.9% 25.0% 25.5% 26.1% 26.8% 27.6% 27.6% Showa Denko 3rd Quarter, 2012 Consolid
Slide 12: (Reference) Summary
(Reference) Summary CQ2 (Apr.1 – Jun.30), 2012 v s. CQ3 (Jul.1 – Sept.30), 2012 (Unit: Billions of Yen) Increase/ CQ2, 2012 CQ3, 2012 decrease Net Sales 171.0 194.6 23.7 Operating Income 6.5 7.8 1.3 Non-operating income and expense -0.4 -2.5 -2.1 Interest/Dividend income less expenses -0.8 -0.9 -0.1
Slide 13: Consolidated Sales by Segment CQ2 vs CQ3 2012
Consolidated Sales by Segment CQ2 (Apr.1 – Jun.30), 2012 v s. CQ3 (Jul.1 – Sept.30), 2012 (Unit: Billions of Yen) CQ2, CQ3, Increase/ 2012 2012 Decrease Olefins, organic chemicals: sales increased (shipment volumes up due to the Petrochemicals 25.5 58.8 33.3 resumption of ethylene plant operation) F
Slide 14: Consolidated Operating Income by Segment CQ2 vs CQ3 2012
Consolidated Operating Income by Segment CQ2 (Apr.1 – Jun.30), 2012 v s. CQ3 (Jul.1 – Sept.30), 2012 (Unit: Billions of Yen) CQ2, CQ3, Increase/ 2012 2012 Decrease Olefins: profit increased (shipment volumes up due to the resumption of Petrochemicals -2.3 0.0 2.3 ethylene plant operation) Organic ch
Slide 15: 2012 Forecast
2012 Forecast (Unit: Billions of Yen except Cash dividends per Share and Net income per Share) 2012 2012 Increase/ Earlier Revised decrease 2011 Forecast* Forecast ** Net Sales 790.0 750.0 -40.0 854.2 Operating Income 42.0 32.0 -10.0 47.4 Ordinary Income 36.0 27.0 -9.0 40.0 Net Income 18.0 10.0 -8.0
Slide 16: Net Sales by Segment, 2012 Forecast
Consolidated Net Sales by Segment, 2012 Forecast (Unit: Billions of Yen) 2012 2012 Increase/ Earlier Revised decrease 2011 Forecast* Forecast** Petrochemicals 195.0 190.0 -5.0 250.4 Chemicals 135.0 130.0 -5.0 130.2 Electronics 175.0 170.0 -5.0 165.0 Inorganics 75.0 65.0 -10.0 77.6 Aluminum 100.0 90.
Slide 17: Operating Income by Segment, 2012 Forecast
Consolidated Operating Income by Segment, 2012 Forecast (Unit: Billions of Yen) 2012 2012 Increase/ Earlier Revised decrease 2011 Forecast* Forecast** Petrochemicals 0.0 -1.5 -1.5 3.5 Chemicals 2.5 0.5 -2.0 2.0 Electronics 33.5 33.0 -0.5 30.2 Inorganics 7.5 4.0 -3.5 9.6 Aluminum 4.0 2.0 -2.0 6.2 Oth
Slide 18: (Reference) Quarterly Operating Income
(Reference) Quarterly Operating Income (Unit: Billions of Yen) 《Corporate》 2012 16.8 2011 15.0 12.7 10.0 9.4 9.5 8.5 7.8 6.5 5.0 0.0 CQ1 CQ2 CQ3 CQ4 Showa Denko 3rd Quarter, 2012 Consolidated Financial Results 18
Slide 19: (Reference) Quarterly Operating Income
(Reference) Quarterly Operating Income 《Petrochemicals》 《Chemicals》 (Unit: Billions of Yen) (Unit: Billions of Yen) 2.5 2012 2012 2.1 2.0 2011 2011 2.0 1.5 1.7 1.0 1.1 0.5 0.1 1.0 0.0 0.6 CQ1 CQ2 CQ3 CQ4 -0.5 0.0 -1.5 CQ1 CQ2 CQ3 -0.1 CQ4 -1.6 -0.3 -0.5 -2.5 -2.3 -1.0 -0.8 Showa Denko 3rd Quarter, 2
Slide 20: (Reference) Quarterly Operating Income
(Reference) Quarterly Operating Income 《Electronics》 《Inorganics》 (Unit: Billions of Yen) (Unit: Billions of Yen) 14.0 2012 4.0 2012 12.5 2011 2011 12.0 3.2 10.2 10.0 3.0 9.1 8.7 8.6 2.5 2.5 8.0 2.0 6.0 5.4 1.5 1.5 4.0 1.0 0.8 2.1 0.5 2.0 0.0 0.0 CQ1 CQ2 CQ3 CQ4 CQ1 CQ2 CQ3 CQ4 Showa Denko 3rd Quart
Slide 21: (Reference) Quarterly Operating Income
(Reference) Quarterly Operating Income 《Aluminum》 《Others》 (Unit: Billions of Yen) (Unit: Billions of Yen) 3.5 2012 1.0 2012 2011 2011 3.0 0.8 2.5 2.4 0.7 2.0 2.0 1.6 0.5 1.5 1.4 1.0 0.3 0.6 0.2 0.5 0.2 0.1 0.1 0.0 0.0 CQ1 CQ2 CQ3 CQ4 0.0 -0.2 -0.5 CQ1 CQ2 CQ3 CQ4 Showa Denko 3rd Quarter, 2012 Conso
Slide 22: Topics
Topics Corporate Acquisition of highest-level BCM rating from DBJ SDK received a loan in August from Development Bank of Japan Inc. (DBJ), after acquiring the highest-level rating for its business continuity management (BCM). DBJ evaluates firms’ ability to prevent disaster and continue busines
Slide 23: Topics
Topics Corporate Development of printable conductive inks for electronics In October, SDK announced the joint development, with Osaka University, of printable silver nanowire ink for the manufacture of electronic devices. When the ink is used in combination with Photonic Curing™ process technol
Slide 24: Topics
Topics Chemicals Launch of efficient and large dry-type PFC decomposition system SDK decided to begin marketing a new hybrid-type system for decomposing global-warming perfluoro compounds (PFCs) by the end of this year. PFCs are used in the process of manufacturing LCD panels and semiconductors.
Slide 25: Topics
Topics Electronics Transfer of GaN LED business by company split SDK decided to split and transfer its gallium-nitride (GaN) LED business to its wholly owned subsidiary TS Opto Co., Ltd. effective December 1, 2012 through company split. SDK will transfer 70% of shares in TS Opto to Toyoda Gose
Slide 26: Topics
Topics Aluminum Construction of an aluminum casting plant in Malaysia SDK decided to construct an aluminum casting plant in the state of Johor, Malaysia, for start-up by the end of 2014. In addition to an integrated aluminum casting/forging facility at Kitakata, Japan, SDK is operating one each