Resonac Holdings Cp U/Adr (SHWDY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. I'm Hideki Somemiya, CFO of Resnick Holdings Corporation. Thank you for your consistent understanding and support for our company. Today, I will explain the consolidated financial results for the first quarter 2025. Please see slide 2 for key takeaways. There are two key points. First, co-operating profit increased year-on-year under IFRS that we started to adapt in the full-year financial results for FY 2024. This is mainly due to the year-on-year strong performance of the semiconductor and electronic materials segment. Overall revenue remained flat due to the sluggish chemical segment, but core operating profit achieved robust growth. Second, Q1 result shows steady progress against the forecast for FY25, which was announced on February 13. Besides this, partly due to the uncertain external environment by tariff of Trump administration among others, the forecast has not been revised as of today. Without further ado, let me explain the summary of consolidated results for the first quarter 2025. Please see slide 3. This slide shows a consolidated result for the first quarter 2025 with a year-on-year comparison. We started to adapt IFRS, and our disclosure in Annual Securities Report for 2024 ended in December, which was disclosed in March 2025, and numbers of the previous year are restated to adapt IFRS retroactively. As a concept to show the earnings of core business, we disclosed core operating profit, which is close to OP in JGAP. Core operating profit is calculated excluding gains and costs attributable to non-recurring factors, and segment profit is based on this core operating profit. Revenue in the first quarter was 321.1 billion yen. Revenue was up and down by segment, but as a total, it was almost flat year-on-year. Co-operating profit...