Toagosei Co., Ltd. · TSE:4045
Toagosei — FY2021 Earnings Presentation
23 slides from Toagosei's earnings presentation, Feb 17, 2022
Slide 1: Financial Results for FY2021
Financial Results for FY2021 February 17, 2022
Slide 2: Overview of Results for FY2021
Overview of Results for FY2021 Scope of consolidation Number of consolidated subsidiaries: 18 (1 less than at end of FY2020; Oita Chemical removed) Number of equity-method affiliates: 2 (no change) FY2020 FY2021 Change Net sales (Millions of yen) 133,392 156,313 22,920 17.2% Operating income (Millio
Slide 3: Summary of Financial Results for FY2021
Summary of Financial Results for FY2021 <Business Environment> ・ Widespread impacts from parts shortages and supply chain disruptions caused by COVID-19. ・ Business environment generally recovering despite factors such as rising prices of commodities and raw materials. ・ COVID-19 cases rose at the e
Slide 4: Consolidated Results (by Segment)
Consolidated Results (by Segment) Net sales (by consolidated segment) (Millions of yen) Change in net sales FY2020 FY2021 Volume Unit price Change Commodity Chemicals 58,495 70,312 5,023 6,793 11,817 Polymer & Oligomer 26,944 34,904 7,497 462 7,960 Adhesive Material 10,054 11,364 1,236 72 1,309 Perf
Slide 5: Non-operating Income/Expenses and Extraordinary Income/Loss (Consolidated)
Non-operating Income/Expenses and Extraordinary Income/Loss (Consolidated) [Non-operating income/expenses] [Extraordinary income/loss] (Millions of yen) (Millions of yen) FY2020 FY2021 Change FY2020 FY2021 Change Interest and dividend income 864 995 130 Gain on sales of 253 1,706 1,453 investment se
Slide 6: Consolidated Balance Sheet
Consolidated Balance Sheet (Millions of yen) Dec. 31, Dec. 31, Change 2020 2021 Cash and deposits 48,564 52,457 3,893 [Balance Sheet] Notes and accounts receivable 39,757 48,456 8,699 (1) Notes and accounts receivable、 inventories and notes and accounts payable increased Securities 25,000 23,000 (2,
Slide 7: Overview of Consolidated Subsidiaries (Results for FY2021)
Overview of Consolidated Subsidiaries (Results for FY2021) (Millions of yen) Net income (loss) attributable to Ownership Net sales Operating income (loss) owners of parent Company name Segment (%) FY2020 FY2021 FY2020 FY2021 FY2020 FY2021 1 Toa Techno-Gas Commodity Chemicals 100 4,306 4,625 340 557
Slide 8: Comparison with 2022 Medium-Term Management Plan
Comparison with 2022 Medium-Term Management Plan FY2021 Results FY2022 MTP Targets Net sales 156.3 billion yen 163.0 billion yen Operating income 17.6 billion yen 17.0 billion yen (operating income ratio) (11.3%) (10.4%) EBITDA 28.2 billion yen 27.0 billion yen Ratio of high-value-added 43.8％ 47％ pr
Slide 9: Challenges in FY2022
Challenges in FY2022 Socioeconomic activities are forecast to become more active despite uncertainties remaining such as parts shortages and rising commodity prices, etc. With efforts to reduce CO2 and transition to EVs picking up steam, the economic and social structure transformed by COVID-19 will
Slide 10: 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 11: 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 12: 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 13: 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 14: 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 15: 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 16: 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 17: 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
Slide 18: Medium-Term Management Plan: Operating Income Trends
Medium-Term Management Plan “Stage up for the Future”: Operating Income Trends High-value-added Commodity products (Billions of yen) products 18.0 17.5 17.7 17.0 16.1 16.4 13.8 6.8 8.5 6.3 12.3 5.9 12.3 12.0 7.1 8.0 3.1 5.5 3.6 4.8 10.2 10.7 10.7 9.2 9.3 9.5 8.4 8.3 9.7 7.6 FY2014 FY2015 FY2016 FY20
Slide 19: Sustainability Initiatives (1) Energy
Sustainability Initiatives (1) Energy Roadmap toward GHG Reduction 50% reduction compared to 2013 Carbon neutral (205 thousand tons) (net zero) Prepared a new roadmap toward GHG reduction. In 2021, operated hydrogen station and promoted switch to LNG, etc. 18
Slide 20: Sustainability Initiatives (2) Energy (continued)
Sustainability Initiatives (2) Energy (continued) Hydrogen Station Tokushima Launched operations at Toagosei Hydrogen Station Tokushima. Supplying hydrogen to FCV at Shikoku’s first stationary and mobile station. Mobile hydrogen station Hirono Plant switched to LNG Switched fuel used by boilers and
Slide 21: Sustainability Initiatives (3) Electronics and Healthcare
Sustainability Initiatives (3) Electronics and Healthcare Caustic potash Decided to increase production of liquid- and flake- type caustic potash to fulfill our supply side responsibilities given forecasts for growing demand for use in electronics, etc. Facility upgrades are underway with operation
Slide 22: Sustainability Initiatives (4) New value creation (continued)
Sustainability Initiatives (4) New value creation (continued) Cellulose Nanofiber (CNF) Newly developed prototypes of dry powder-type products, in addition to aqueous-dispersion liquids, and expanded lineup. Received many business inquiries at trade fairs, etc.; currently being evaluated by users wh
Slide 23: New Product News
New Product News Released Aron Alpha Tough-Power Features improved water and heat resistance compared to conventional product and easier- to-use container. Toagosei’s TV commercial featuring Aaron Phillip Wolf, gold medalist at the Tokyo Olympics, has been well received. Developed ARONIX Sheet N