Toyobo Co., Ltd. · TSE:3101
Toyobo — FY2021 Earnings Presentation
29 slides from Toyobo's earnings presentation, May 10, 2021
Slide 1: Presentation to Investors
May 10, 2021 Presentation to Investors TOYOBO CO., LTD.
Slide 2: Highlights
Highlights FY 3/21 Results - Significant impact due to COVID-19. Operating profit increased since films and reagents for PCR tests performed strongly - Profit was held to ¥4.2 bn as acrylic fiber business recorded impairment loss of ¥7.8 bn. FY 3/22 Forecasts Despite the impact of rising raw materia
Slide 3: Summary of Results: P&L
Summary of Results: P&L (¥bn.) YOY Pervious FY 3/20 FY 3/21 forecasts Amount % (Feb. 2021) Net sales 339.6 337.4 - 2.2 - 0.6% 335.0 Operating profit 22.8 26.7 + 3.9 + 16.9% 23.0 (Ratio to sales) 6.7% 7.9% - - 6.9% Ordinary profit 18.0 20.7 + 2.7 + 14.8% 16.0 Extraordinary income and losses 1.7 -15.1
Slide 4: Analysis in Changes in Operating Profit
Analysis in Changes in Operating Profit Raw materials Volume Others and fuel costs Prices +5.2 -3.2 30.0 +5.6 -3.8 25.0 20.0 - Industrial film - PCR-related products (¥bn.) 15.0 22.8 - Depreciation 26.7 - Cost to launch new unit of films 10.0 (＋3.9 ) 5.0 0.0 FY 3/20 FY 3/21 FY 3/20 FY 3/21 H1 H2 H1
Slide 5: Summary of Results: BS
Summary of Results: BS (B) (A) (¥bn.) Mar. 31, 2019 Mar. 31, 2020 Mar. 31, 2021 (A) - (B) Total assets 461.0 488.9 491.2 + 2.3 Cash and deposits 22.3 25.2 34.7 + 9.4 Inventories 76.8 80.6 76.3 - 4.3 Property, plant and equipment 208.5 231.5 224.6 - 6.8 Net assets 181.2 182.6 188.6 + 6.0 Shareholder'
Slide 6: Summary of Results: Segment
Summary of Results: Segment (¥bn.) Net sales Operating profit Pervious forecasts FY 3/20 FY 3/21 FY 3/20 FY 3/21 YOY (Feb. 2021) Films and Functional 127.1 152.8 14.6 20.0 + 5.4 19.0 Materials Mobility 43.9 36.6 -0.7 -1.6 - 0.9 -2.2 Lifestyle and Environmental 128.4 109.1 5.9 4.4 - 1.6 3.3 Life Scie
Slide 7: Films and Functional Materials
Films and Functional Materials (¥bn.) FY 3/20 FY 3/21 YOY H1 H2 full year H1 H2 full year Amount % Net sales 59.9 67.2 127.1 73.8 79.1 152.8 + 25.7 +20.2% Operating profit 7.3 7.3 14.6 8.7 11.3 20.0 + 5.4 +37.3% (OPM) 12.2% 10.8% 11.5% 11.8% 14.3% 13.1% ‐ ‐ Packaging film - There was demand from peo
Slide 8: Films and Functional Materials
Films and Functional Materials Industrial film “COSMOSHINE SRF” - Sales expanded mainly for use in large-sized TVs due to superior water resistance and durability. - Increase of approximately 30% due to operation of the new line (ongoing from July 2020) and increase of productivity. Mold releasing f
Slide 9: Mobility
Mobility (¥bn.) FY 3/20 FY 3/21 YOY H1 H2 full year H1 H2 full year Amount % Net sales 22.2 21.7 43.9 15.0 21.6 36.6 - 7.3 - 16.7% Operating profit - 0.4 - 0.3 - 0.7 - 1.3 - 0.3 - 1.6 - 0.9 ‐ (OPM) - - - - - - ‐ ‐ - Sales recovered in the second half due to the recovery of global automobile producti
Slide 10: Lifestyle and Environmental
Lifestyle and Environmental (¥bn.) FY 3/20 FY 3/21 YOY H1 H2 full year H1 H2 full year Amount % Net sales 63.8 64.6 128.4 50.2 59.0 109.1 - 19.3 - 15.0% Operating profit 2.4 3.5 5.9 1.8 2.6 4.4 - 1.6 - 26.3% (OPM) 3.8% 5.4% 4.6% 3.5% 4.4% 4.0% ‐ ‐ Environmental solutions - Strong shipments of VOC em
Slide 11: Life Science
Life Science (¥bn.) FY 3/20 FY 3/21 YOY H1 H2 full year H1 H2 full year Amount % Net sales 12.5 13.0 25.5 12.4 14.7 27.1 + 1.5 + 6.1% Operating profit 2.0 1.8 3.8 1.6 2.9 4.5 + 0.7 + 18.9% (OPM) 16.1% 13.7% 14.9% 12.9% 19.8% 16.7% ‐ ‐ Biotechnology - Sales grew significantly for reagents for PCR tes
Slide 12: Forecasts for FY 3/22
Forecasts for FY 3/22 (¥bn.) FY 3/21 FY 3/22 YOY result forecasts Amount % Net sales 337.4 360.0 + 22.6 + 6.7% Operating profit 26.7 27.0 + 0.3 + 1.3% (Ratio to sales) 7.9% 7.5% - - Ordinary profit 20.7 22.0 + 1.3 + 6.2% Extraordinary income and losses - 15.1 - 5.0 - - Profit attributable to owners
Slide 13: Forecasts by Segment
Forecasts by Segment (¥bn.) Net sales Operating profit FY 3/21 FY 3/22 FY 3/21 FY 3/22 YOY result forecasts result forecasts Films and 152.8 168.0 20.0 20.0 - 0.0 Functional Materials Mobility 36.6 39.0 - 1.6 - 1.4 + 0.2 Lifestyle and 109.1 112.0 4.4 4.6 + 0.2 Environmental Life Science 27.1 29.0 4.
Slide 14: New Management Policy
New Management Policy 14
Slide 15: Vision
Vision 【Management mission】 Improve corporate value by realizing the corporate philosophy （“Jun-Ri-Soku-Yu” adhering to reason leads to prosperity） 【Vision】 We will continue to create the solutions needed by people and the earth with materials and science. A company that contributes to solving socia
Slide 16: Management Policy
Management Policy 【Recognition of current situation】 - Despite realization of growth in films, unable to transition from the conservative values - Flat business performance and corporate value over the past 10 years - Trust as manufacturer shaken Right now is the “time for change” (share sense of cr
Slide 17: Management issues
Management issues (1) Recovery of trust (priority issue) (i) Thorough safety, disaster prevention and quality assurance (ii) Strengthening Risk Management (2) Rearrangement of business portfolio (i) Prioritized investment into expanding businesses (Films, Life Science, Environment) (ii) Observe room
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
Slide 19: All Rights Reserved
All Rights Reserved
Slide 20: Appendix
Appendix
Slide 21: Business performance
Business performance (¥bn.) FY 3/20 FY 3/21 Net sales Q1 Q2 Q3 Q4 full year Q1 Q2 Q3 Q4 full year Films and Funcitonal Materials 29.5 30.4 30.5 36.7 127.1 36.3 37.5 39.2 39.8 152.8 Mobility 11.7 10.5 10.8 10.9 43.9 6.8 8.2 10.5 11.1 36.6 Lifestyle and Environmental 30.7 33.1 31.7 32.8 128.4 22.9 27.
Slide 22: Analysis in Changes in Operating Profit
Analysis in Changes in Operating Profit Raw materials Volume Others 30.0 and fuel costs Prices +5.6 -2.6 -5.8 +3.1 25.0 20.0 (¥bn.) - Industrial film 15.0 26.7 - PCR-related products 27.0 ( +0.3 ) - Depreciation 10.0 - Safety and disaster prevention investment 5.0 0.0 FY 3/21 FY 3/22 FY 3/21 FY 3/22
Slide 23: Prevent recurrence of cases of misconduct concerning quality
Prevent recurrence of cases of misconduct concerning quality (1) Released on December 29, 2020 - Investigative body: Law firm that does not have an advisory agreement or entrustment relationship with the Company Committee comprising Outside Directors and Corporate Auditors - Subject: Misconduct at t
Slide 24: Safety and disaster prevention measures
Safety and disaster prevention measures (1) Fire Accident A fire broke out at the Inuyama Plant (Aichi Pref.) on Sept. 2020. 2 employees died, and partial loss of the packaging film production line (2) Probable cause ((accident investigation committee (in-house)) Sparks were generated from electric
Slide 25: Corporate Governance Structure: Strengthen Risk Management
Corporate Governance Structure: Strengthen Risk Management General Shareholders’ Meeting Election and dismissal Election and Election and dismissal dismissal Accounting auditing Reporting Accounting Nomination & Remuneration Auditor Advisory Committee Board of Directors Business auditing Board of Re
Slide 26: 2018 Medium-Term Management Plan
2018 Medium-Term Management Plan (Final year FY 3/22) Assumptions have changed due to the fire accident, the spread of COVID-19, etc. 35.0 30.0 30.0 FY 3/21 Targets Operating profit (¥ bn.) 26.7 27.0 25.0 23.9 22.8 Net sales 337.4 375.0 21.7 Overseas sales ratio 33.0% 35.0% 20.0 Operating profit 26.
Slide 27: Declaration to be carbon neutral by 2050
Declaration to be carbon neutral by 2050 【FY 3/31 Targets】 Scope1,2：Reduce GHG emissions by 30% (Compared to FY 3/14) (further review going forward) Introduction of fuel conversion, renewable energy, etc. 【FY 3/51 Targets】 Scope1,2：Aim for net zero GHG emissions Volume of avoided GHG emissions > Amo
Slide 28: 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
Slide 29: All Rights Reserved
All Rights Reserved