Toyobo Co., Ltd. · TSE:3101
Toyobo — FY2016 Earnings Presentation
18 slides from Toyobo's earnings presentation, May 12, 2017
Slide 1: Presentation to Investors
Presentation to Investors Seiji Narahara President Toyobo Co., Ltd. May 12, 2017 (Analysts’ Meeting)
Slide 2: Highlights
Highlights FY 3/17 Results Operating profit was limited to ¥23.3 billion (up 0.9%), resulting in a reduced profit. Difficult business conditions related to PPS materials for filter bags and Acrylic fibers in China. Brazilian textile business also terminated due to changes in the business environme
Slide 3: I. Results for FY 3/17
I. Results for FY 3/17
Slide 4: Results for FY 3/17: PL, CF
(1) Results for FY 3/17 1)PL.CF (\ bn.) FY 3/17 FY 3/16 YoY H1 H2 Am o u n t ％ Net sales 347.8 164.7 164.8 329.5 -18.3 -5.3% Operating profit 23.1 10.7 12.7 23.3 +0.2 +0.9% Rat i o t o sal e s 6.6% 6.5% 7.7% 7.1% - - Ordinary profit 20.4 8.7 11.9 20.7 +0.3 +1.3% Ext r ao r di n ar y l o sse s 4.9 3.
Slide 5: Analysis of Changes in Operating Profit
Analysis of Changes in Operating Profit [FY 3/16 FY 3/17] Volume Appreciation decrease of yen (sales price) -1.3 -0.8 -2.5 Down in prices Others Decrease in +0.7 raw material and fuel costs +4.1 23.1 23.3 FY 3/16 FY 3/16 FY 3/17 FY 3/17 (¥ bn.) H1 H2 H1 H2 Exchange rate 122 118 120 105 112 109 （￥/U
Slide 6: Balance Sheet
2) BS (A) (B) (\ bn.) Ch a n g e Mar. 31, 2015 Mar. 31, 2016 Mar. 31,2017 (A)→ (B) Total assets 465.8 444.6 450.8 + 6 .2 Cash and deposits 20.6 20.3 32.3 + 1 2 .1 Inventories 82.4 75.3 72.8 - 2 .6 Net assets 161.1 160.1 170.9 + 1 0 .8 Shareholders' equity 158.0 156.9 167.8 + 1 0 .9 R etai ned earni
Slide 7: Results by Segment
(2) Results by Segment (\ bn.) Ne t sale s Ope ratin g profit (loss) FY 3 / 1 7 FY 3 / 1 7 FY 3 / 1 6 FY 3 / 1 6 Ch an ge H1 H2 H1 H2 Films & Fu n c tion al Polyme rs 143.4 69.1 69.5 138.6 9.9 6.0 6.7 12.7 +2.8 In du strial Mate rials 70.5 32.4 36.8 69.2 6.3 2.0 2.8 4.8 -1.5 He alth c are 27.7 14.5
Slide 8: Films & Functional Polymers
1) Films & Functional Polymers Packaging films business experienced lower revenues, impacted by raw material prices. For the industrial films business, “COSMOSHINE SRF” shipments increased. Net sales Operating profit (¥ bn.) (¥ bn.) 143.4 138.6 12.7 (9.2%) 9.9 (6.9%) 66.9 69.5 6.7 5.9 76.5 69.1 6.0
Slide 9: Industrial Materials
2) Industrial Materials Promoting preparation for expanded Airbag fabrics sales in U.S. and Asia,etc. PPS materials for filter bags struggled in those products for China Net sales (¥ bn.) Operating profit (¥ bn.) 70.5 69.2 6.3 4.8 (8.9%) (7.0%) 35.2 36.8 3.0 2.8 35.3 32.4 3.2 2.0 H2 H2 FY 3/16 FY 3/
Slide 10: Healthcare
3) Healthcare Bioproducts and water treatment membranes were affected by the foreign exchange rate fluctuations. For medical products business, pharmaceuticals and medical devices struggled. Net sales (¥ bn.) Operating profit (¥ bn.) 27.7 27.1 4.7 4.3 (17.0%) (15.9%) 14.3 12.7 2.6 2.4 13.5 14.5 2.1
Slide 11: Textiles and Trading
4) Textiles and Trading Thoub cloth for the Middle East was affected by the foreign exchange rate fluctuations. Acrylic fibers struggled under Chinese anti-dumping policies. Net sales Operating profit (¥ bn.) (¥ bn.) 85.5 77.6 2.5 (2.9%) 41.6 37.7 1.3 1.1 (1.4%) 43.8 39.8 H2 1.2 0.6 H2 H1 0.4 H1 FY
Slide 12: II. Forecasts for FY 3/18
II. Forecasts for FY 3/18
Slide 13: Forecasts for FY 3/18
(1) Forecasts for FY 3/18 (\ bn.) FY 3 / 1 7 FY 3 / 1 8 C h an ge (Fo r e c ast s) Am o u n t ％ Ne t sal e s 329.5 340.0 +10.5 +3.2% Ope r at i n g pr o fi t 23.3 25.0 +1.7 +7.1% Rat i o t o sal e s 7.1% 7.4% - - Or di n ar y pr o fi t 20.7 23.0 +2.3 +11.4% Ext r ao r di n ar y l o sse s 7.2 3.2 -4.
Slide 14: Analysis of Changes in Operating Profit: Forecasts
Analysis of Changes in Operating Profit [Forecasts: FY 3/17→ FY 3/18] Depreciation of yen Up (sales price) in prices ±0 +2.5 Others Volume +0.5 increase Increase in raw material +2.2 and fuel costs 23.3 -3.5 25.0 (¥ bn.) FY 3/17 FY 3/17 FY 3/18 FY 3/18 Exchange rate 109 110 (\/US$) Naphtha price in
Slide 15: Forecasts by Segment
(2) Forecasts by Segment (\ bn.) Ne t sale s Ope r at in g pr ofit (loss) FY 3 / 1 7 FY 3 / 1 8 FY 3 / 1 7 FY 3 / 1 8 Change Film s & Fu n c t ion al Polym e r s 138.6 145.0 12.7 13.7 +1.0 In du st r ial Mat e r ials 69.2 74.0 4.8 5.3 +0.5 He alt h c ar e 27.1 28.3 4.3 4.5 +0.2 Te xt ile s an d Tr a
Slide 16: III. Litigation
Ⅲ. Litigation
Slide 17: Progress of Litigation regarding Body Armor Using ZYLON Fiber
Progress of Litigation regarding Body Armor Using ZYLON Fiber 1) In June 2003, an accident with body armor (BA) using Zylon fiber occurred in Pennsylvania, USA. (This is the only accident in which a bullet penetrated BA.) 2) The injured/deceased persons and purchasers of the same type of BA sued the
Slide 18: 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