Slide 1: Presentation to Investors for Year Ended March 31, 2024
May 13, 2024 Presentation to Investors for Year Ended March 31, 2024 TOYOBO CO., LTD.
Slide 2: Highlights
Highlights FY 3/24 Results Sales increased but operating profit decreased due to decline in demand for reagents for PCR testing and volume decline for packaging film, although sales for polarizer protective films for LCDs increased. Profit was ¥2.5 billion. Profit (loss) attributable to Net sales Op
Slide 3: (Reference) Operating Profit by Quarter
(Reference) Operating Profit by Quarter (¥ bn.) 10.0 8.0 6.0 4.0 2.0 0.0 -2.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY 3/21 FY 3/22 FY 3/23 FY 3/24 3
Slide 4: Business Environment in the FY 3/24 (Difference from initial forecast)
Business Environment in the FY 3/24 (Difference from initial forecast) Current Condition (FY 3/24) Segment Business Initial Forecast (May 2023) Situation* Difference from Initial Forecast Adjustments became prolonged and demand Packaging Adjustments to distributors’ inventories will gradually resolv
Slide 5: Summary of Results: P&L
Summary of Results: P&L (¥ bn.) YOY Previous FY 3/22 FY 3/23 FY 3/24 forecasts Amount % (Feb. 2024) Net sales 375.7 399.9 414.3 +14.3 + 3.6% 410.0 Gross profit 96.1 85.0 88.0 +3.0 + 3.5% - Operating profit 28.4 10.1 9.0 - 1.1 - 10.6% 8.0 (Ratio to sales) 7.6% 2.5% 2.2% - - 2.0% Ordinary profit 23.1
Slide 6: Analysis in Changes in Operating Profit
Analysis in Changes in Operating Profit 16.0 Prices Volume 14.0 +4.4 - 1.7 Others Raw material 12.0 and fuel costs - 2.7 - 1.0 10.0 (¥bn.) 8.0 Films R&D Resin and chemicals Depreciation Cost to launch new 6.0 10.1 Reagents for PCR testing (-) Packaging film (-) equipment of films New company cost 9.
Slide 7: Summary of Results: BS
Summary of Results: BS (B) (A) (¥ bn.) Mar. 31, 2022 Mar. 31, 2023 Mar. 31, 2024 (A)-(B) Total assets 517.8 588.9 607.0 +18.1 Cash and deposits 27.2 60.7 33.8 - 26.9 Inventories 96.0 121.9 122.0 +0.1 Property, plant and equipment 227.6 240.2 281.5 +41.2 Net assets 197.1 221.4 230.1 +8.7 Shareholder'
Slide 8: Summary of Results: CF, etc.
Summary of Results: CF, etc. (¥ bn.) FY 3/23 FY 3/24 YOY Cash flows from operating activities 7.8 21.6 +13.8 Cash flows from investing activities - 36.0 - 58.8 - 22.8 Free cash flows - 28.2 - 37.2 - 9.0 Cash flows from financing activities 61.3 8.3 - 53.0 Others 0.7 2.0 +1.3 Net increase (decrease)
Slide 9: Summary of Results: Segment
Summary of Results: Segment (¥ bn.) Net sales Operating profit Previous forecasts (Feb. 2024) FY 3/23 FY 3/24 FY 3/23 FY 3/24 YOY Films 146.1 156.5 1.6 2.7 +1.1 3.0 Life Science 38.1 34.6 9.2 4.4 - 4.8 4.5 Environmental and Functional Materials 110.8 115.3 4.0 4.7 +0.6 4.0 Functional Textiles and Tr
Slide 10: (Reference) Operating Profit by Quarter (by Segment)
(Reference) Operating Profit by Quarter (by Segment) (¥ bn.) FY 3/23 FY 3/24 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Films 2.5 - 0.0 - 0.4 - 0.4 1.2 0.2 0.1 1.2 Life Science 2.1 3.3 2.6 1.2 1.4 1.0 1.1 1.0 Environmental and Functional Materials 0.9 1.2 0.8 1.1 - 0.7 1.0 2.6 1.7 Functional Textiles and Trading - 0.4
Slide 11: Main actions and their results by businesses (FY 3/24)
Main actions and their results by businesses (FY 3/24) Segment Action plan (Planned in May 2023) Results* Pillar of income. Recovery of income - Packaging film: Improve OP margin by further price revisions. D Films Full-fledged launch of new production equipment and new product. - Mold releasing fil
Slide 12: Films
Films (¥ bn.) FY 3/23 FY 3/24 YOY Previous forecasts H1 H2 Full year H1 H2 Full year Amount % (Feb. 2024) Net sales 74.3 71.7 146.1 78.1 78.5 156.5 +10.5 +7.2% 155.0 Operating profit 2.4 - 0.8 1.6 1.4 1.3 2.7 +1.1 +65.6% 3.0 (OPM) 3.3% - 1.1% 1.8% 1.6% 1.7% - - 1.9% Packaging film - While we worked
Slide 13: Life Science
Life Science (¥ bn.) FY 3/23 FY 3/24 YOY Previous forecasts H1 H2 Full year H1 H2 Full year Amount % (Feb. 2024) Net sales 19.3 18.8 38.1 16.6 18.0 34.6 - 3.6 - 9.4% 34 Operating profit 5.4 3.8 9.2 2.4 2.0 4.4 - 4.8 - 51.8% 4.5 (OPM) 28.0% 20.2% 24.2% 14.5% 11.3% 12.8% - - 13.2% Biotechnology - Sale
Slide 14: Environmental and Functional Materials
(mainly TOYOBO MC Environmental and Functional Materials Corporation) (¥ bn.) FY 3/23 FY 3/24 YOY Previous forecasts H1 H2 Full year H1 H2 Full year Amount % (Feb. 2024) Net sales 55.7 55.1 110.8 52.5 62.8 115.3 +4.5 +4.1% 115.0 Operating profit 2.1 1.9 4.0 0.4 4.3 4.7 +0.6 +15.3% 4.0 (OPM) 3.8% 3.5
Slide 15: Functional Textiles and Trading
Functional Textiles and Trading (¥ bn.) FY 3/23 FY 3/24 YOY Previous forecasts H1 H2 Full year H1 H2 Full year Amount % (Feb. 2024) Net sales 45.3 47.0 92.4 45.7 50.0 95.7 +3.3 +3.6% 93.0 Operating profit - 1.1 - 1.4 - 2.5 - 0.9 - 0.2 - 1.0 +1.5 - - 1.2 (OPM) - - - - - - - - - Textiles - Business st
Slide 16: Forecasts for Business Environment in the FY 3/25
Forecasts for Business Environment in the FY 3/25 Segment Business Condition of previous fiscal year (FY 3/24) Forecasts (FY 3/25) Adjustments became prolonged and demand Inventory adjustment finishes and the market moves Packaging recovery delayed. toward a gradual recovery. Films Demand for polari
Slide 17: Forecasts for FY 3/25
Forecasts for FY 3/25 We forecast operating profit of ¥17.0 billion and net profit of ¥2.6 billion, based on demand recovery for packaging film and electronic materials in addition to advancing measures for businesses requiring improvement. (¥ bn.) FY 3/24 FY 3/25 YOY Results Forecasts Amount % Net
Slide 18: Analysis in Changes in Operating Profit
Analysis in Changes in Operating Profit Volume Others 20.0 +5.0 - 2.0 18.0 16.0 Prices Raw material +3.0 14.0 and fuel costs Depreciation +2.0 (¥ bn.) 12.0 R&D Cost to launch new 10.0 equipment of films 17.0 8.0 Films ( +80 ) Resin and chemicals 6.0 Packaging film (+) 9.0 Industrial film (+) 4.0 Med
Slide 19: Forecasts by Segment
Forecasts by Segment (¥ bn.) Net sales Operatinig profit FY 3/24 FY 3/25 FY 3/24 FY 3/25 YOY Results Forecasts Results Forecasts Films 156.5 170.0 2.7 7.3 +4.6 Life Science 34.6 38.0 4.4 3.7 - 0.7 Envrionmental and Functional Materials 115.3 120.0 4.7 8.0 +3.3 Functional Textiles and Trading 95.7 95
Slide 20: Management Policy in FY 3/25
Management Policy in FY 3/25 Recover earning power to create the future 1. Thorough safety, disaster prevention and quality assurance, and compliance (basic premise) 2. Endured pricing commensurate with value 3. Measures for businesses requiring improvement (low earning / loss-making segments) 4. St
Slide 21: 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 22: ©️ TOYOBO CO., LTD. All rights reserved.
©️ TOYOBO CO., LTD. All rights reserved.
Slide 23: Appendix
TOYOBO Appendix
Slide 24: Business performance
Business performance (¥ bn.) FY 3/23 FY 3/24 Net sales Q1 Q2 Q3 Q4 Full year Q1 Q2 Q3 Q4 Full year Films 39.2 35.2 35.6 36.1 146.1 39.0 39.1 39.3 39.1 156.5 Life Science 8.7 10.6 10.0 8.8 38.1 8.1 8.4 8.7 9.3 34.6 Environmental and Functional Materials 27.9 27.8 26.7 28.3 110.8 25.0 27.6 33.6 29.2 1
Slide 25: Major indicators
Major indicators (¥ bn.) FY 3/19 FY 3/20 FY 3/21 FY 3/22 FY 3/23 FY 3/24 FY 3/25 Results Forecasts Net sales 336.7 339.6 337.4 375.7 399.9 414.3 435.0 Operating profit 21.7 22.8 26.7 28.4 10.1 9.0 17.0 (Ratio to sales) 6.5% 6.7% 7.9% 7.6% 2.5% 2.2% 3.9% EBITDA*1 37.5 39.8 45.8 48.5 29.1 28.8 40.5 EP
Slide 26: Product price revisions for Rising raw material and fuel prices
Product price revisions for Rising raw material and fuel prices (thousand ¥/kl) Naphtha price 100 in Japan 75 50 25 0 3/16 2015 3/17 2016 3/18 2017 3/19 2018 3/20 2019 3/21 2020 3/22 2021 3/23 2022 3/24 2023 (FY) ($/t) Coal prices 500 (Australian thermal coal 400 market prices) 300 200 100 0 3/16 20
Slide 27: Recovery in market conditions for films
Recovery in market conditions for films Packaging film Shipping results in the domestic market for OPP film for food packaging (YOY %) Market 10.0% - FY 3/24: Shipping results for OPP* film turned positive 5.0% in the second half of the year. 0.0% - FY 3/25: Forecasting inventory adjustment finishes
Slide 28: Main actions by businesses (FY 3/25)
Main actions by businesses (FY 3/25) Segment Action plan Improvement in profitability of packaging film and further expansion of industrial film - Packaging film: Further price revisions. Full-fledged launch of new production equipment and new product. Films Review production system. - Mold releasin
Slide 29: ©️ TOYOBO CO., LTD. All rights reserved.
©️ TOYOBO CO., LTD. All rights reserved.