Financial Results
Q1of FY Ending March 2023
August 9, 2022
FEED ONE CO., LTD.
TSE Prime Symbol：2060
Summary of Financial Results for First Quarter of FY Ending March 2023
- Animal feed sales increased due to higher sales prices. Profits declined significantly due to higher raw material prices and increased SG&A expenses.
（Millions of Yen, %）
Net Sales Cost of Sales SG&A expenses Operating Profit Ordinary Income
Net income attributable to owners of the parent company
Q1 FY 2022 | Q1 FY 2023 | |
YoY | ||
56,811 | 67,131 | 18.2 |
50,981 | 63,589 | 24.7 |
4,405 | 5,243 | 19.0 |
1,424 | -1,700 | － |
1,637 | -1,474 | － |
年度 | ||
1,117 | -984 | － |
YoY change
- Net sales
Sales increased due to higher sales volumes of livestock feed and higher selling prices.
- Operating Income and Ordinary Income
Cost of sales increased due to higher corn price and distribution costs and the sharp depreciation of the yen. An increase in SG&A expenses due to an increase in the reserve for the compound feed price stabilization program led to a significant decrease in profit.
2
The First Quarter FY 2022 segment status
(Millions of Yen,
Feed business
Food business
Others
%)
Net Sales Segment profit Net Sales Segment profit
Net Sales
年度 Segment profit
Q1 FY2022 | Q1 FY2023 |
46,925 | 56,998 |
2,048 | -1,021 |
9,266 | 9,525 |
-76 | -134 |
619 | 607 |
68 | 58 |
YoY difference | YoY | |
+10,072 | + 21.5 | |
-3,069 | － | |
+259 | 年度 | + 2.8 |
-58 | － | |
-11 | -1.9 | |
-10 | -14.6 |
(Thousand metric tons)
年 | Q1 FY2022 | Q1 FY2023 | ||||
Sales volume | ||||||
YoY | Comments | |||||
Animal feed | 86.3 | 88.1 | ＋ 2.2 | For layers +4%, for broilers +3%, for pigs -2%, | ||
for cattle +4% | ||||||
Aquatic feed | 2.2 | 2.2 | - 2.2 | For marine fish -0%, for freshwater fish -13% | 3 | |
セグメント売上高の増減要因
Factors of Net sales increase / decrease
- Net sales increased due to higher volumes and sales prices of animal feed.
(Millions of Yen)
68000+8,202
63000
+1,928
58000 | Previous period increasedvolumeSales | feedAnimal increasedpriceSales | |
53000 | feedAnimal | ||
56,811 | |||
48000 | |||
Q1 FY2022 |
Feed business | Food business | ||||
＋10,072 | ＋259 | ||||
+107 | +127 | +387 | |||
-106 | -187 | -128-11 |
+10,320
67,131 | |||||||
feed Aquatic decreasedvolume Sales | feed Aquatic increased price Sales | .etc feed, Other | agent Offsetting applying by transactions Standards "Accounting ".Recognition Revenue for | business Food products Livestock .etc rise, price market | agent Offsetting applyingby transactions Standards "Accounting ".Recognition Revenue for | Others | |
Current period | 4 | ||||||
Q1 FY2023 |
Increase / decrease factors of operating profit
-
Feed business：Animal feed profitability declined due to higher raw material prices and increased contributions to the Feed Stabilization Fund.
Food business： Meat business profitability declined due to higher purchase costs caused by soaring pork market prices.
(Millions of Yen)
1500
1000
1,424
500
0
-500
-1000
-1500
-2000
Previous period
Q1 FY2022
+81
Feed business | Food business | |
-3,069 | -58 | |
-2,092 | ||||||||
-847 | -19 | +2 | ||||||
-188 | -4 | -0 | ||||||
-58 | ||||||||
feed Animal volume Sales increased | feed Animal profit Gross decreased | SG&A feed Animal expenses 1* increased | feed Aquatic volume Sales decreased | feed Aquatic profit Gross decreased | feed Aquatic expenses SG&A increased | feed, Other .etc | business Food decreased Profit | Others |
-3,125
-1,700
Current period
Q1 FY2023
5
*１ Mainly increased in reserve for compound feed price stabilization program -763 million yen.
This is an excerpt of the original content. To continue reading it, access the original document here.