Toyo Gosei Co., Ltd. · TSE:4970
Toyo Gosei — Q1 FY2024 Earnings Presentation
16 slides from Toyo Gosei's earnings presentation, Aug 9, 2024
Slide 1: Business Results for the First Quarter of Fiscal Year Ending March 31, 2025
Business Results for the First Quarter of Fiscal Year Ending March 31, 2025 (April 1, 2024 － June 30, 2024) August 9, 2024 Copyright © Toyo Gosei Co., Ltd. All rights reserved.
Slide 2: Financial Results for the Q1 FY2024
Financial Results for the Q1 FY2024 • Net sales increased significantly by 21% YoY to 9,216 million yen, thanks to inventory adjustments coming to an end and a rapid recovery in sales of advanced semiconductor materials. • Operating profit was 1,302 million yen, up 56% YoY, thanks to increased sales
Slide 3: Variance Analysis: Operating profit
Variance Analysis: Operating profit • Increased sales absorbed increased costs for production capacity expansion, resulting in a 56% increase in profit over the same period of the previous year. (Billion yen) +0.69 +0.07 −0.11 −0.18 +56% FX Inventory Valuation 1.3 +¥0.46 billion Increase in producti
Slide 4: Quarterly Sales & Operating profit Trends
Quarterly Sales & Operating profit Trends • Inventory adjustments from FY2022 Q2 have settled down and quarterly sales have returned to record highest level ever. Quarterly Sales & Operating profit (Million yen) (Million yen) 10,000 9,232 Sales Recovery 2,000 9,216 8,000 1,600 1,302 6,000 1,200 4,00
Slide 5: Photosensitive Materials Segment
Photosensitive Materials Segment Net sales & Operating profit (Million yen) Net sales (Million yen) 6,000 Operating profit 5,615 1,500 Net sales: ¥5,285 million 5,285 YoY: +¥453 million, +9% 4,832 • Sales of semiconductor materials are recovering, 4,466 4,477 especially in cutting-edge fields, and a
Slide 6: Chemicals Segment
Chemicals Segment Net sales & Operating profit (Million yen) Net sales (Million yen) 5,000 Operating profit 1,500 Net sales: ¥3,930 million YoY: +¥1,151 million, +41% • In the electronic materials sector, inventory 4,000 3,930 3,563 adjustments have been completed and sales of 3,245 advanced semicon
Slide 7: Q1 FY2024 Income Statement
Q1 FY2024 Income Statement • Net sales were 9,216 million yen (YoY +21%). • Gross profit increased by 554 million yen as sales growth absorbed increased expenses, and the gross profit margin improved by 1.8 points to 26.1%. • Operating profit increased by 603 million yen thanks to foreign exchange g
Slide 8: Q1 FY2024 Balance sheet
Q1 FY2024 Balance sheet • Working capital improved by 1.2 billion yen thanks to sales expansion. • Due to continued capital investment to increase production capacity, tangible fixed assets increased by 868 million yen and borrowings increased by 1,718 million yen. • Thanks to the increase in profit
Slide 9: Progress of First Half Earnings Forecasts
Progress of First Half Earnings Forecasts • Progress rates for the first quarter against the first half forecast were 51% for net sales, 84% for operating profit, and 95% for ordinary profit. • The rapid recovery in demand has improved operating rates and accelerated profit progress. H1 FY2024 Q1 FY
Slide 10: Revision to Earnings Forecasts for the FY2024
Revision to Earnings Forecasts for the FY2024 • The first-half earnings forecast was revised upward as demand in the semiconductor market has recovered more quickly than initially expected. • For the second half of the year, the previously announced forecast includes the continuation of the demand r
Slide 11: Sales and Operating profit Forecasts by Half Year
Sales and Operating profit Forecasts by Half Year • Upwardly revised H1 FY2024 forecast to net sales of 18,700 million yen (+700 million yen) and operating profit of 2,050 million yen (+500 million yen). • For the second half of the year, the forecast remains unchanged at net sales of 19,500 million
Slide 12: Outlook for operating profit and fixed cost increase
Outlook for operating profit and fixed cost increase Operating profit and increase in fixed costs ※ No change from the initial plan Operating profit (Billion yen) 2.21 2.05 • Investments to increase production capacity in 1.55 response to growing demand are proceeding as 1.29 planned. +¥1.03 Billion
Slide 13: Progress and Plans for Capital Investment
Reposted) Progress and Plans for Capital Investment ※ No change from the initial plan • The Chiba Plant's No. 4 photosensitive materials plant is scheduled for completion in September 2024 with a production line for advanced products. • Large-scale investments to increase production capacity under B
Slide 14: Appendix
Appendix Copyright © Toyo Gosei Co., Ltd. All rights reserved.
Slide 15: CAPEX, Depreciation & R&D Plans
Reposted) CAPEX, Depreciation & R&D Plans • In FY2023, the company invested 10.1 billion yen in facilities, including construction to increase the capacity of the No.4 photosensitive materials plant for advanced products and the No.2 indoor filling station at the Awaji Plant (already completed). • F
Slide 16: Note on forecasts
独創的な視点で世界へ Individual Development, to the global Chemical 東洋合成工業株式会社 (Note): The forecasts made in this document contain a variety of uncertain factors since it has been prepared based on judgments from information that is currently available. Therefore, actual business results may differ from those