Slide 1: FY06/23 Performance Highlights and Future Outlook
FY06/23 Performance Highlights and Future Outlook Abalance Corporation TSE Standard: 3856 / August 2023 Copyright © 2023 A balance Corporation
Slide 2: Corporate Profile
Corporate Profile ■ Company name Abalance Corporation (Group Holding Company) ■ Establishment April 17, 2000 ■ Business segments Solar Panel Manufacturing Business, Green Energy Business, IT Business, Photocatalyst Business ■ Primary consolidated subsidiaries VSUN, Vietnam Sunergy Cell Company Limit
Slide 3: Performance Highlights [FY06/23]
Performance Highlights [FY06/23] Sales and profit growth for three consecutive fiscal years; the highest profit recorded in FY06/23. Consolidated net sales: 217.4 billion yen (2.4 x YoY), Ordinary profit: 14.8 billion yen (9.8 x YoY). Reasons for sales growth: Reasons for profit growth: Global dem
Slide 4: Performance of Key Segments
Performance of Key Segments Solar Panel Manufacturing Business (VSUN) Significant increase in sales and segment profit. Sales of solar panels to the US and Europe exceeded expectations. Price pass-through and reduced container freight costs led to improved profit margins (especially in 2H. P
Slide 5: Consolidated Performance Forecast for FY06/24
Consolidated Performance Forecast for FY06/24 *Announced on August 18 Consolidated Sales: 251.8 billion yen (+16% YoY), Ordinary Profit: 15.8 billion yen (+7% YoY) ➡The cell plant (Phase 1) is scheduled for completion in October 2023. (Billions of yen) FY06/23 FY06/24 Change (YoY) Actual Forecast Ne
Slide 6: Establishment of the New Medium-term Management Plan
Establishment of the New Medium-term Management Plan While FY06/24 marks the final year of the current Medium-term Management Plan, considering changes in the business environment, we plan to announce a new Medium-term Management Plan starting from FY06/24 within this fiscal year. Current Medium-t
Slide 7: Equity Ratio and Shareholder Returns
Equity Ratio and Shareholder Returns ▼ Improvement in Equity Ratio Improved from 7.0% (end-FY06/22) to 9.1% (end-FY06/23) Equity ratio target: Above 10% to 12%. We aim to bolster our equity by increasing retained earnings, with the Solar Panel Manufacturing Business and Green Energy Business a
Slide 8: [Overseas Topics ①] New US Panel Factory (VSUN)
[Overseas Topics ①] New US Panel Factory (VSUN) (Published on May 31,2023) VSUN started considering the construction of a new panel factory with a view toward direct investment in the US market and inspected potential construction sites. ➡ The schedule, factory location, and construction funds are s
Slide 9: [Overseas Topics②] Plant No.4 Operational in Phases from January 2023 (VSUN)
[Overseas Topics②] Plant No.4 Operational in Phases from January 2023 (VSUN) (Published on October 27, 2022) In line with the expansion of orders, we enhanced production capacity and swiftly responded to the generational transition of solar panels based on Purpose & Overview of market trends. the
Slide 10: [Overseas Topics ③] Construction of Cell Plant (VSUN)
[Overseas Topics ③] Construction of Cell Plant (VSUN) (Published on February 10, 2023) ●Shift from purchasing cells (the main component of solar panels) to in- house manufacturing Executed an investment in the construction of the cell plant in Phases 1 and 2. [Cell] Annual production capacity: 6
Slide 11: Fundraising Details (VSUN)
■Fundraising Details (VSUN) (Published on May 12, 2023) VSUN entered into a long-term partnership agreement with Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), the largest state-owned bank in Vietnam, as of May 2023. Comprehensive financial support will serve as a
Slide 12: [Overseas Topics④] Moving toward NASDAQ Listing (SPAC)
[Overseas Topics④] Moving toward NASDAQ Listing (SPAC) (Published on August 10, 2023) • Our subsidiary, Vietnam Sunergy Cell Company Limited (hereinafter, "Cell Company"), signed a memorandum of understanding with BLUE WORLD ACQUISITION CORPORATION, a special purpose acquisition company (SPAC) liste
Slide 13: [Domestic Topics ①] Promotion of Offsite Corporate PPA
【Domestic Topics ①】 Promotion of Offsite Corporate PPA (Green Energy Business) (Published on August 10, 2023) A balance, along with its consolidated subsidiary WWB Corporation and Mitsui & Co. Plant Systems, Ltd., signed a Memorandum of Understanding on the Joint Development of Solar Power Generat
Slide 14: [Domestic Topics ②] Initiation of Battery Storage Business
[Domestic Topics ②] Initiation of Battery Storage Business (Green Energy Business) (Published on April 26, 2023) ▼ New entry into the grid-connected battery storage business Collaborating with leading domestic power generation operators, construction companies, and heavy electrical system manufact
Slide 15: [Domestic Topics ③] Commencement of Sales of Electricity Generated at Power Plants
[Domestic Topics ③] Commencement of Sales of Electricity Generated at Power Plants (Green Energy Business) (Published on June 14, 2023) Taiwa Town and Ohira Village Solar Power Plants (Kurokawa County, Miyagi Prefecture/SPC) ➡ Major development following the Kakuda Solar Power Plant. ➡ Significant l
Slide 16: Utilization of Sustainability Linked Loans
■Utilization of Sustainability Linked Loans (Green Energy Business) (Published on June 26, 2023) WWB Corporation secured a "Kiyo Sustainability Linked Loan" from The Kiyo Bank, Ltd. to further its ESG and SDGs initiatives. Conformity to the Sustainability Linked Loan Principles (2023) and the Mi
Slide 17: Frequently Asked Questions (FAQ)
Frequently Asked Questions (FAQ) Copyright © 2023 A balance Corporation 16
Slide 18: Q&A (1)
Q&A (1) 1. Can you explain the reasons for the delay in the financial results announcement? We initially planned to announce our financial results for the fiscal year ended June 2023 on August 14, 2023. However, we postponed the announcement to August 21, 2023 (as stated in our August 14, 2023 rel
Slide 19: Q&A (2)
Q&A (2) 3. Can you provide a breakdown of the "Other" category, which accounts for 14 billion yen in the "Cash Flows from Operating Activities"? The primary components within this category are the increase in accrued expenses* from VSUN (+9.1 billion yen) and the decrease in accounts receivables (
Slide 20: Q&A (3)
Q&A (3) 7. How is VSUN responding to US regulations regarding export circumvention? On August 18, 2023, the U.S. Department of Commerce issued a press release. They announced a final decision that several solar product manufacturers with Chinese origins were circumventing the Anti-Dumping Duties (
Slide 21: Disclaimer
Disclaimer The future outlook and estimated figures presented in this material are based on information available to our company at the time of its creation, as well as facts we recognized and results from our subsequent analyses and evaluations. While we have considered past confirmed facts and