Slide 1: Kureha Corporation Reports Fiscal 2011 Results
Kureha Corporation Reports Fiscal 2011 Results Tokyo, Japan – May 2012 – Kureha Corporation (“Kureha”), a leading global supplier of specialty chemicals and plastics, has reported earnings for the fiscal year ended March 31, 2012 (FY2011). On a consolidated basis, operating income increased by 33.4%
Slide 2: Business highlights
Business highlights New mid-term business plan, “Grow Globally II” On January 23, 2012, Kureha announced its new mid-term business plan for the period fiscal 2012 to 2015, named “Grow Globally II”, with the aim of further accelerating business growth globally in competitive areas and securing talent
Slide 3: Consolidated performance by segment
Consolidated performance by segment (¥ million, except where stated) Division March 2011 March 2012 March 2013 (Forecast) Advanced materials Sales 33,391 31,253 35,000 Operating income/loss 363 534 100 Specialty chemicals Sales 33,552 30,182 33,500 Operating income/loss 5,202 4,715 4,800 Specialty p
Slide 4: Inventory adjustment for carbon fibers
Inventory adjustment for carbon fibers Sales of carbon fiber products were down 5% to ¥6.9 billion. Demand for carbon fiber was stable during the first half, but showed a notable decline due to inventory adjustments to products for use as insulating materials for solar power equipment. Such inventor
Slide 5: Pharmaceuticals revenue weakens
Pharmaceuticals revenue weakens Sales of pharmaceutical products declined from ¥10.2 billion to ¥8.0 billion, as a result of the accelerated shipments of Kremezin during the previous year to secure inventory immediately after the earthquake, which led to a comparative decline in shipments during FY2
Slide 6: Improved utilization of Vietnam plant
Improved utilization of Vietnam plant Sales of food packaging materials for commercial use were down 13% to ¥9.6 billion, while profits improved due to an increased utilization ratio of production facilities in Vietnam. In Europe, hikes in raw material prices led to cost increases at the multi-layer
Slide 7: Construction and other operations
for industrial waste processing operations increased in response to earthquake recovery efforts, while the Kanagawa plant also saw increased utilization rates and contributed to an improvement in earnings. Logistics and warehousing businesses largely unchanged Logistics and warehousing business sale
Slide 8: Capex, Depreciation, R&D and Debt
Capex, Depreciation, R&D and Debt (¥ billion) March 2011 March 2012 March 2013 (forecast) Capital expenditure 14.1 14.4 26.0 Depreciation 10.3 9.6 9.0 R&D 5.5 5.1 5.7 Interest-bearing debt 54.9 56.7 71.9 Capital expenditure increased marginally to ¥14.4 billion in fiscal 2011, with expenditure proje
Slide 9: Appendix: Condensed Consolidated Financial Statements
<Appendix> Condensed Consolidated Balance Sheets ( ¥ millions) 31 March 2012 31 March 2011 Assets Current assets 66,821 64,161 Cash and cash equivalents 8,857 10,746 Fixed assets 117,591 Tangible assets 87,118 83,917 Intangible assets 840 868 Investments and other assets 31,443 32,805 Total Assets 1
Slide 10: Results for the Year ended March 31, 2012
Results for the Year ended March 31, 2012 May 18, 2012
Slide 11: Contents
Contents 1. Consolidated Companies (2)～(3) 2. Fiscal 2011 Results and Fiscal 2012 Forecasts (4) ・Financial Highlights (5) ・Key Indicators (6) ・Balance Sheets (7) ・Analysis of Recurring Income (8) ・Breakdown of Extraordinary Income/Losses (9) ・Cashflow (10) 3． Consolidated Net Sales and Operating Inc
Slide 12: Consolidated Companies
１. Consolidated Companies （Unit :100million yen） FY2011 FY2012 Increase/Decrease Net sales Total assets Net sales Total assets Net sales Total assets Kureha Corporation 832 1,498 731 1,513 -101 15 Kureha Trading Co., Ltd. and one group company 303 120 271 126 -31 7 Advanced Kureha Corporation 248 -
Slide 13: Consolidated Companies
１. Consolidated Companies （Unit: 100 million yen) FY2011 FY2012 Increase/Decrease Net sales Total assets Net sales Total assets Net sales Total assets Kurehanishiki Construction Co., Ltd. and three group companies 130 70 193 96 63 26 Construction - Kureha Engineering Co., Ltd. 78 46 100 44 22 -2 rel
Slide 14: Fiscal 2011 Results and Fiscal 2012 Forecasts
２. Fiscal 2011 Results and Fiscal 2012 Forecasts (4)
Slide 15: Financial Highlights
Financial Highlights （ unit： 100million yen ） FY2010 FY2011 FY2012(est.) ※( )FY2012 second quarter（ est.） Non- Non- Year-on-year change Non- Year-on-year change Consolidated consolidated Ratio Consolidated consolidated Ratio Consolidated Non-consolidated Consolidated consolidated Ratio Consolidated
Slide 16: Key Indicators
Key Indicators （ unit ： 100 million yen ） FY2010 FY2011 FY2012（est.) Non- Non- Year-on-year change Non- Year-on-year change Consolidated consolidated Ratio Consolidatedonsolidate Ratio Consolidated Non-consolidated ConsolidatedconsolidatedRatio Consolidated Non-consolidated Capital Expenditure 141 6
Slide 17: Balance Sheets
Balance Sheets 1. Assets (Unit: 100 million yen) As of Mar. 31, 2011 As of Mar. 31, 2012 Increase/decrease Non- Non- Non- Consolidated consolidated Consolidated consolidated Consolidated consolidated Cash and cash equivalents 107 50 89 34 -19 -16 Accounts and notes receivable-trade 273 166 296 174 2
Slide 18: Analysis of Recurring Income
Analysis of Recurring Income FY2010 FY2011 Change Kureha 51.4 91% 62.1 79% 10.7 Recurring Consolidated subsidiaries 10.9 19% 28.2 36% 17.3 income Equity-method affiliates 3.2 6% 2.1 3% -1.0 Consolidation adjustments -9.1 -16% -13.8 -17% -4.7 56.4 100% 78.7 100% 22.3 Reason for earnings increase/decr
Slide 19: Breakdown of Extraordinary Income/Losses
Breakdown of Extraordinary Income/Losses FY2010 FY2011 Amount Increase/Decrease Non- Non- Non- Consolidated consolidated Consolidated consolidated Consolidated consolidated Gain on business transfer - - 7.0 7.0 7.0 7.0 Gain on extinguishment of tie-in shares - 11.3 - - - -11.3 Reversal of allowance
Slide 20: Cashflow
Cashflow (Unit: 100 million yen) FY2010 FY2011 FY2012(est.) Consolidated Non-consolidated Consolidated Non-consolidated Consolidated Non-consolidated Pre-depreciation profit 120 122 128 96 150 124 Increase/decrease in Cashflow from assets and liabilities 10 22 8 -19 -15 -5 Operating activities Payme
Slide 21: Consolidated Net Sales and Operating Income by Segment
３. Consolidated Net Sales and Operating Income by Segment (11)
Slide 22: Advanced Materials
Consolidated Net Sales and Operating Income by Segment ＜Advanced Materials＞ （Unit:100 million yen) FY2010 FY2011 FY2012(est.) Amount Increase/decrease Amount Increase/decrease Carbon products 73 69 -3 -5% 63 -6 -9% Consolidated Kureha Advanced plastics 143 147 3 2% 172 25 17% net sales Others 32 4 -
Slide 23: Specialty Chemicals
Consolidated Net Sales and Operating Income by Segment ＜Specialty Chemicals＞ （ Unit:100 million yen) FY2010 FY2011 FY2012(est.) Amount Increase/decrease Amount Increase/decrease Industrial chemicals 99 90 -9 -9% 93 3 3% Consolidated Kureha Agrochemicals 72 76 4 5% 77 1 1% net sales Pharmaceuticals 1
Slide 24: Specialty Plastics
Consolidated Net Sales and Operating Income by Segment ＜Specialty Plastics＞ （ Unit:100 million yen) FY2010 FY2011 FY2012(est.) Amount Increase/decrease Amount Increase/decrease Food packaging materials 110 96 -15 -13% 113 17 18% Household products 175 140 -35 -20% 177 37 26% Consolidated Kureha Fish
Slide 25: Construction-related and Other Operations
Consolidated Net Sales and Operating Income by Segment ＜Construction – related＞ （ Unit:100 million yen) FY2010 FY2011 FY2012(est.) Increase/d Amount Increase/decrease Amount ecrease Construction-related business 208 292 84 41% 220 -72 -25% Consolidated Consolidation adjustments -80 -129 -49 - -90 39
Slide 26: Disclaimer
Disclaimer • These materials are supplied to provide a deeper understanding of our company, and are not intended as a solicitation for investment or other actions • These materials ware prepared by our company based on the information available at this point in time, however actual performance may p