Financial Results for the 2nd Quarter Ended March 31, 2021
T．HASEGAWA CO., LTD.
May 26, 2021
Agenda
Ⅰ . Overview of Consolidated Financial Statement
Ⅱ. Impact of COVID-19
Ⅲ. Revision of Annual Plan (Consolidated)
Ⅳ. Management Policy
Ⅴ. Global Strategies
Ⅵ. Capital Policy
Ⅶ. Appendix
1
- Overview of Consolidated Financial Statement
2
Market Environment
Domestic Market
・Market Trends by Product Category
2nd Quarter - FY Ending Sept. 2021 (Oct. 2020 - March 2021)
Category | Trend | ||
・Low consumer spending affected by avoidance of outing from an impact | |||
Beverages | Decreased | of COVID-19 | |
・Slumping demand at workplaces mainly in Metropolitan area | |||
・Sluggish sales for restaurant use and vending machines continued | |||
・Potato Snacks - Bagged products were robust but seasonal limited | |||
products and tub-type package products had hard time | |||
Snacks | Decreased | ・Corn Snacks - New product sales decreased and existing products also | |
had hard time | |||
・Flour Products - Sales at supermarkets and drug stores were strong | |||
・Recovery trend of chocolate bars peaked out | |||
・For high cacao contents and health-promoting chocolates, small bagged | |||
Chocolate | Decreased | and personal products were slow | |
・Chocolate confections, mainly multi pack products, sales grew | |||
・Event needs, such as Valentine's Day, Christmas and Halloween, were | |||
slow due to impact of COVID-19 | |||
・Restaurant use products had hard time but commercial products were | |||
Frozen Dessert | Increased | strong | |
・Treat size products were still robust due to impact of avoidance of outing | |||
・New products contributed | |||
・Package-type instant noodles performed well from heightened trend of | |||
eating at home | |||
Instant Noodles | Decreased | ・Bowl-type instant noodles experienced CVS demand decrease and | |
rebound decrease from previous year's booming demands (demand | |||
increase associated with typhoon and COVID-19) | |||
Data Source: Nikkan Keizai Tsushin Co., Ltd. | 3 | ||
Performance Overview (Consolidated base)
Sales
Increase comparing to pervious year
Progress ratio against annual plan was 48.7％ (average progress ratio: 48％)
Operating Income
Increase comparing to pervious year | ||||||||
Progress ratio against annual plan was 56.8％ (average progress ratio: 45％) | (Million yen) | |||||||
Achievement | Progress | |||||||
FY20 2Q | FY21 2Q | vs Annual | ||||||
yr/yr | ||||||||
Plan*¹ | ||||||||
Actual | Actual | |||||||
Value | ％ | ％ | ||||||
Net sales | 24,462 | 26,135 | 1,672 | 6.8% | 48.7% | |||
Cost of sales | 15,114 | 15,582 | 467 | 3.1% | 48.1% | |||
Gross profit | 9,348 | 10,553 | 1,204 | 12.9% | 49.5% | |||
SG&A expenses | 6,878 | 7,584 | 705 | 10.3% | 47.2% | |||
Operating income | 2,469 | 2,968 | 499 | 20.2% | 56.8% | |||
Ordinary income | 2,688 | 3,304 | 616 | 22.9% | 58.0% | |||
Income before | 3,008 | 4,435 | 1,426 | 47.4% | 58.7% | |||
income taxes | ||||||||
Net income | 2,092 | 3,138 | 1,045 | 49.9% | 58.7% | |||
² | 3,951 | 4,660 | 708 | 17.9% | 49.8% | |||
EBITDA * |
*¹ Progress rate against revised plan announced on May 7, 2021 | 4 |
*² EBITDA = Operating income + Depreciation and Amortization + Amortization of goodwill |
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