Financial Results for FY2024
(Results for the Fiscal Year Ended March 31, 2025)
May 21, 2025
(Forward-Looking Statements)
This material contains forward-looking statements based on expectations and are not guarantees or assurances of future performance. Accordingly, please be fully aware that results may differ materially from those expectations.
Copyright © Iwatani Corporation. All rights reserved.
Iwatani Corporation
〔Security Code 8088〕
Contents
FY2024 Overview
-Highlights
-Consolidated Operating Results
-Consolidated Operating Results (Segment Analysis)
-Operating Profit Analysis of Each Segment
-Balance Sheet (Consolidated)
FY2025 Forecasts
-Forecasts for the Year ending March 31, 2026
-Forecasts of Each Segment
Progress of Medium-Term Management Plan: "PLAN27"
-Management Targets
(Management that is conscious of cost of capital and stock price)
-Capital Policies
-Progress of Priority Measures
Capital and Business Alliance with Cosmo Energy Holdings Co., Ltd.
Copyright © Iwatani Corporation. All rights reserved.
1
FY2024 Overview
Copyright © Iwatani Corporation. All rights reserved.
2
Summary of Financial Results for FY2024 |
|
Due to the finalization of the amount of "negative goodwill" related to the additional acquisition of Cosmo Energy Holdings shares made in FY2023, the ordinary profit and profit attributable to owners of parent for FY2023 have decreased by 3.895 billion yen each from the amounts announced last year. All data for FY2023 presented in this document reflect the above-mentioned information. |
173 187
191
109
85
84 77
60
1Q 2Q 3Q 4Q
1Q 2Q 3Q 4Q
Highlights
Net sales increased. Operating profit, ordinary profit, and profit attributable to owners of parent decreased.
883.0 billion yen YoY +35.1 billion yen +4.1%
46.2 billion yen YoY (4.4) billion yen (8.7)%
61.4 billion yen YoY (0.8) billion yen (1.3)%
Operating profit quarterly trends (100 million yen)
40.4 billion yen YoY (3.0) billion yen (6.9)%
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3
Profit attributable to owners of parent
Ordinary profit
Operating profit
Net sales
First, we have revised some of our financial results for the fiscal year ended March 2024, which is the previous fiscal year, and I will explain about it.
"Negative goodwill" was generated upon the acquisition of additional shares of Cosmo Energy HD conducted in the previous fiscal year, and a provisional amount was recorded, but the amount has been finalized.
Therefore, ordinary income and net income for the previous fiscal year announced last year decreased by JPY3.895 billion, respectively.
Although the financial summary for the fiscal year ending March 31, 2025, showed an increase in net sales compared to the previous year, operating profit, ordinary profit, and net income all declined.
FY24 Results (A) | FY23 YoY Results (A)-(B) FY24 (B) (A)/(B) Forecasts | |
et sales | 8,830 | 8,478 +351 9,020 +4.1% |
Gross profit | 2,343 | 2,294 +48 - +2.1% |
Operating profit | 462 | 506 (44) 527 (8.7)% |
Operating profit xcluding impact of PG import price luctuation | 460 | 498 (38) 527 (7.8)% |
Non-operating profit | 152 | 116 +35 - +30.7% |
Equity gains of affiliated companies related to Cosmo Energy HD | 91 | 54 +36 159 +66.2% |
Ordinary profit | 614 | 623 (8) 728 (1.3)% |
rofit attributable o owners of parent | 404 | 434 (30) 540 (6.9)% |
Consolidated Operating Results
(100 million yen)
Net sales
8,478
216
92
34
7 8,830
Gases & Energy Machinery
e L
f
FY23
Operating profit
Industrial
FY24
506
Integrated Energy
(6)
Gases & Machinery
(41)
Materials
(5)
9
Others
462
P
t
FY23 FY24
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4
Net sales increased JPY35.1 billion, or 4.1%, from the previous year to JPY883 billion, mainly due to the result of LPG import prices, which were higher than the previous year, higher sales prices of LPG, and solid performance of the product for the industrial sectors.
Gross operating profit increased JPY4.8 billion, or 2.1%, to JPY234.3 billion due to solid sales of air-separated gas and hydrogen as well as the impact of new consolidation and the growth in sales of energy-related equipment.
SG&A expenses increased JPY9.2 billion due to labor costs and depreciation as well as an increase in logistics expenses, etc. As a result, operating profit decreased by JPY4.4 billion, or 8.7%, to JPY46.2 billion.
Non-operating income increased JPY3.5 billion from the previous year due to an increase of JPY3.6 billion in equity in earnings of Cosmo Energy HD from the previous year.
Ordinary profit decreased by JPY0.8 billion, or 1.3%, to JPY61.4 billion. In addition, extraordinary losses include a loss on withdrawal from a hydrogen-related project in Australia and an impairment loss on hydrogen-refueling stations-related facilities in the US.
As a result, net income decreased by JPY3 billion, or 6.9%, to JPY40.4 billion.