Toagosei Co., Ltd. · TSE:4045
Toagosei — Q1 FY2022 Earnings Presentation
23 slides from Toagosei's earnings presentation, May 23, 2022
Slide 1: Financial Results for 1Q FY2022
Financial Results for 1Q FY2022 May 23,2022
Slide 2: Overview of Results for 1Q FY2022
Overview of Results for 1Q FY2022 Scope of consolidation Number of consolidated subsidiaries: 18 Number of equity-method affiliates: 2 1Q FY2021 1Q FY2022 Change 37,750 1,796 5.0% Net sales (Millions of yen) 35,953 [41,195] [5,241] [14.6%] 4,109 (578) (12.3%) Operating income (Millions of yen) 4,687
Slide 3: Consolidated Results (by Segment)
Consolidated Results (by Segment) (Millions of yen) 1Q 1Q Net Sales Net sales When Not Applied Change Change When Not (by consolidated segment) FY2021 FY2022 Volume Unit price Applied (2)-(1) (3)-(1) (1) (2) (3) Commodity Chemicals 15,590 16,018 16,388 (487) 859 427 798 Polymer & Oligomer 8,081 9,11
Slide 4: Net Sales Growth Rate (Commodity Chemicals Business)
Net Sales Growth Rate (Commodity Chemicals Business) Year-on-year Comparison Commodity Chemicals 1Q-1Q Reason for the Change Business 1Q (Cumulative Total) Sales of electrolysis products were on a par with the previous fiscal year Inorganic chemicals 101% 101% Sales volume declined due to the impact
Slide 5: Net Sales Growth Rate (Polymer and Oligomer Business)
Net Sales Growth Rate (Polymer and Oligomer Business) Year-on-year Comparison Polymer and Oligomer 1Q-1Q Reason for the Change Business 1Q (Cumulative Total) Sales volume declined due to the impact of Polymers 90% 90% product adjustments in the automobile industry Shipments for electronic materials
Slide 6: Net Sales Growth Rate (Adhesive Materials Business)
Net Sales Growth Rate (Adhesive Materials Business) Year-on-year Comparison Adhesive Materials 1Q-1Q Reason for the Change Business 1Q (Cumulative Total) The number of in-store customers decreased due to bad weather in Japan while sales volume declined due to the impact of the COVID-19 Instant glue
Slide 7: Net Sales Growth Rate (High Performance Materials Business)
Net Sales Growth Rate (High Performance Materials Business) Year-on-year Comparison High Performance 1Q-1Q Reason for the Change Materials Business 1Q (Cumulative Total) Shipments of deodorants and antimicrobial Inorganic functional agents were strong 105% 105% materials Shipments for semiconductors
Slide 8: Net Sales Growth Rate (Plastics Business)
Net Sales Growth Rate (Plastics Business) Year-on-year Comparison Plastics Business 1Q-1Q Reason for the Change 1Q (Cumulative Total Demand for inventory increased Piping equipment 118% 118% Shipments were on a par with the previous year Nursing care products 102% 102% Shipments for overseas home ap
Slide 9: Overview of Consolidated Subsidiaries (Results for 1Q FY2022)
Overview of Consolidated Subsidiaries (Results for 1Q FY2022) (Millions of yen) Net income (loss) attributable to Ownership Net sales Operating income (loss) owners of parent Company name Segment (%) 1Q FY2021 1Q FY2022 1Q FY2021 1Q FY2022 1Q FY2021 1Q FY2022 Commodity 1 Toa Techno-Gas Chemicals 100
Slide 10: Consolidated Statement of Income (Non-operating and Extraordinary Items)
Consolidated Statement of Income (Non-operating Income/Expenses and Extraordinary Income/Losses ) [Non-operating income/expenses] (Millions of yen) [Extraordinary income/losses] (Millions of yen) 1Q FY2021 1Q FY2022 Change 2021年1Q 1Q FY2022 Change Interest and dividend Gain on sales of income 176 67
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet (Millions of yen) Dec. 31, Mar. 31, Dec. 31, Mar. 31, Change Change 2021 2022 2021 2022 Current assets 145,168 132,824 (12,343) Total liabilities 52,343 50,064 (2,279) Notes and accounts Cash and deposits 52,457 42,443 (10,013) payable 18,391 17,726 (665) Notes and account
Slide 12: Comparison with 2022 Medium-Term Management Plan
Comparison with 2022 Medium-Term Management Plan 1Q FY2022 FY2022 MTP Progress Rate Results Targets 37.7 billion yen 23.1% Net sales (41.1 billion yen ) (25.2%) 163.0 billion yen Operating income 4.1 billion yen 17.0 billion yen 24.1% (operating income ratio) [10.9％] [10.4%] EBITDA 6.6 billion yen 2
Slide 13: ESG Initiatives
ESG Initiatives Jul 2021 Issued the Toagosei Group Report Aug 2021 Held an event for the Riko Challenge (science and technology challenge) organized by the Cabinet Office, Ministry of Education, Culture, Sports, Science and Technology (MEXT), and the Japan Business Federation (Keidanren) Dec 2021 Se
Slide 14: ESG Initiatives
ESG Initiatives Mar 2019 Abolished anti-takeover measures Mar 2019 Elected a female director for the first time Mar 2020 Introduced a restricted share remuneration system for directors Oct 2021 Revised the Toagosei Group Basic Policy on Corporate Governance • Aim to improve shareholder return with t
Slide 15: Reference Materials (Forecast for the Full FY2022)
Reference Materials (Forecast for the Full FY2022) 14
Slide 16: Consolidated Results Forecast for FY2022
Consolidated Results Forecast for FY2022 (Millions of yen) FY2021 FY2022 1H FY2022 2H FY2022 forecast Change (A) (forecast) (forecast) (B) (B-A) Net sales 156,313 73,700 80,100 153,800 (2,513) Operating income 17,676 9,000 9,000 18,000 324 Operating income ratio 11.3% 12.2% 11.2% 11.7% 0.4% Non-oper
Slide 17: Consolidated Results Forecast for FY2022 (by Segment)
Consolidated Results Forecast for FY2022 (by Segment) Net sales Net sales without Change without FY2021 *FY2022 accounting accounting standard Change standard Factors for change ②-① results Forecast application application ① ② ③ ②-① ③-① Commodity Chemicals 70,312 67,900 75,000 (2,412) 4,688 [Increas
Slide 18: Overview of Consolidated Subsidiaries (FY2022 Forecast)
Overview of Consolidated Subsidiaries (FY2022 Forecast) (Millions of yen) Net income (loss) attributable to Net sales Operating income (loss) owners of parent Ownership Company name Segment (%) FY2022 FY2022 FY2022 FY2021 FY2021 FY2021 forecast forecast forecast 1 Toa Techno-Gas Commodity Chemicals
Slide 19: Trends in Consolidated Results
Trends in Consolidated Results (Millions of yen) (Yen) 35,000 120.00 108.14 109.22 30,000 98.08 28,299 28,800 100.00 96.85 25,397 24,782 25,000 23,039 78.91 22,184 80.00 62.43 20,000 18,000 17,453 17,676 16,408 60.00 15,000 13,782 12,336 40.00 10,000 13,771 13,500 8,142 20.00 5,000 12,911 12,748 10,
Slide 20: Reference for Consolidated Performance
Reference for Consolidated Performance (Billions of yen) FY2022 FY2017 FY2018 FY2019 FY2020 FY2021 (forecast) Capital investment (acceptance basis) 10.0 12.5 15.8 13.6 11.9 20.6 Capital investment (approval basis) 22.1 17.0 16.9 11.8 24.9 33.6 Depreciation and amortization 7.9 8.3 9.2 9.8 10.6 10.8
Slide 21: Consolidated Performance Reference Figure Trends
Consolidated Performance Reference Figure Trends (Millions of yen) (Millions of yen) 210,000 207,921 50,000 201,764 193,764 192,885 40,000 186,419 182,624 79.8% 30,000 78.4% 77.9% 78.4% 77.3% 170,000 76.5% 20,000 12,150 11,692 11,534 11,376 11,208 11,065 10,000 130,000 0 FY2017 FY2018 FY2019 FY2020
Slide 22: EBITDA/PP&E Ratio Trends
EBITDA/PP&E Ratio Trends (Millions of yen) (Millions of yen) 100,000 50,000 90,893 78,301 78,193 40,000 74,376 67,083 62,663 28,300 28,800 30,000 25,397 24,782 50,000 23,039 22,184 40.5% 20,000 36.9% 35.3% 31.0% 31.7% 28.3% 10,000 0 0 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 (forecast) PP&E (left s
Slide 23: Shareholder Return Trends
Shareholder Return Trends Total return ratio 150.0% 95.4% 100.0% 62.1% 58.7% 28.9% 38.0% 50.0% 24.8% 26.5% 0.0% (百万円) (Millions of yen) （円） (Yen) 9,000 38 36 36 8,000 36 7,000 34 4,000 6,000 3,500 32 3,882 30 30 5,000 30 28 4,000 28 26 26 3,000 26 4,554 4,419 2,000 3,685 3,948 3,881 24 3,422 3,422 1