Results of Operations for the
First Half of the Fiscal Year Ending March 31, 2022 (FY3/22)
November 12, 2021
IWAKI CO.,LTD.
Stock code: 6237
Trade name: Iwaki Pump
Contents
I. | Summary of 1H FY3/22 Financial Results | ・・・・P 3 |
II. | Outlook for FY3/22 | ・・・・P 15 |
III. Medium-term Management Plan | ・・・・P 24 | |
Business Development and Growth | ||
IV. | Appendix | ・・・・P 30 |
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I. Summary of 1H FY3/22 Financial Results
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1 Financial Summary
Record-high first half sales backed by strong semiconductor/liquid crystal industry investments
1H FY3/21 | 1H FY3/22 | |||||
Amount | Amount | Differences | YoY change | |||
(Millions of yen) | (Millions of yen) | |||||
Net sales | 13,159 | 15,580 | 2,420 | +18.4% | ||
Gross profit | 4,470 | 5,267 | 796 | +17.8% | ||
(Gross margin) | (34.0%) | (33.8%) | ||||
Operating profit | 711 | 1,058 | 346 | +48.7% | ||
(Operating margin) | (5.4%) | (6.8%) | ||||
Ordinary profit | 935 | 1,525 | 590 | +63.1% | ||
Profit attributable to owners of | 1,068 | 1,191 | 122 | +11.5% | ||
parent | ||||||
Net income per share (Yen) | 48.50 | 54.36 | 5.85 | +12.1% | ||
Exchange rate | USD/JPY (Yen) | 108.25 | 107.82 | |||
(average) | EUR/JPY (Yen) | 119.34 | 129.88 | |||
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Sales and Earnings Highlights
Sales: Record-high 1H sales of ¥3,053 million in the semiconductor/liquid crystal category
- Strong sales in all categories except medical equipment, resulting in sales growth of ¥2,420 million from one year earlier.
- 2Q semiconductor/liquid crystal category sales were a record-high ¥1,566 million.
- Only medical equipment category sales were down, the result of lower customers' production of equipment due to the semiconductor shortage.
- Iwaki Nordic Group (ING) contributed ¥648 million to 1H FY3/22 sales (before eliminations for consolidation)
- Large volume of orders, mainly in the semiconductor/liquid crystal category. Concerns about negative effects of tight supplies of resin for pneumatic drive pump components and of the difficulty of purchasing some parts due to overseas supply chain problems due to the pandemic.
2 | Operating profit: Higher cost of sales and SG&A expenses due to consolidation adjustments, resulting in |
an increase of ¥346 million |
- As in the 1Q, differences in fiscal periods of consolidated subsidiaries had an effect on consolidation adjustments. Gross profit increased 17.8% (¥796 million) to ¥5,267 million.
- SG&A expenses
・Expenses increased ¥287 million due to inclusion of ING in income statements. ・Expenses increased ¥41 million for ING goodwill amortization.
- R&D expenses increased ¥87 million.
- Expenses increased ¥30 million for exports/imports.
Total SG&A expenses increased ¥449 million due to the above factors.
3 | Profit attributable to owners of parent: Equity-method profit increased but extraordinary income was |
not as much as the previous fiscal year. |
- Sales were higher in the semiconductor/liquid crystal market mainly in South Korea, Taiwan, Shanghai and Hong Kong.
- FY3/21 extraordinary income for a gain of ¥347 million due to the step acquisition of ING.
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