Supplemental Materials for Financial Results
February 7, 2025
(C)2025 Toho Titanium Co., Ltd.
FY2024 (From April 1, 2024 to March 31, 2025) Consolidated
Financial Results
(In billions of JPY) | ||||
FY2024 | FY2023 | Change | ||
3Q | 3Q | |||
Net sales | 65.8 | 56.5 | +9.3 | |
Operating income | 4.6 | 3.9 | +0.6 | |
Ordinary income | 4.5 | 4.1 | +0.5 | |
Net income | 3.2 | 3.1 | +0.2 | |
Average exchange | 152.6 | 143.3 | ||
(158.2¥/$ at the end | (141.8¥/$ at the end | |||
rate (yen/$) | ||||
of the period) | of the period) | |||
(C)2025 Toho Titanium Co., Ltd. | 2 |
FY2024 Net Sales and Operating Income by Segment
(In billions of JPY) | ||||||||
Net sales | 1Q | 2Q | 3Q | FY24 3Q | FY23 3Q | Change | Change | |
24.3Q-YoY | 24.3Q-QoQ | |||||||
Titanium metal | 15.9 | 16.9 | 16.4 | 49.3 | 42.3 | +6.9 | -0.5 | |
Catalysts | 2.5 | 2.3 | 2.7 | 7.5 | 5.5 | +2.0 | +0.4 | |
Chemicals | 2.9 | 3.2 | 2.9 | 9.1 | 8.7 | +0.4 | -0.3 | |
Total | 21.4 | 22.4 | 22.0 | 65.8 | 56.5 | +9.3 | -0.4 | |
Operating | 1Q | 2Q | 3Q | FY24 3Q | FY23 3Q | Change | Change | |
income | 24.3Q-YoY | 24.3Q-QoQ | ||||||
Titanium metal | 1.3 | 2.0 | 1.7 | 5.0 | 2.6 | +2.4 | -0.3 | |
Catalysts | 0.7 | 0.3 | 0.6 | 1.6 | 1.6 | +0.0 | +0.4 | |
Chemicals | (0.1) | (0.9) | 0.1 | (0.8) | 1.0 | -1.8 | +1.0 | |
Common costs and | (0.5) | (0.5) | (0.5) | (1.4) | (1.3) | -0.1 | -0.0 | |
expenses not allocated | ||||||||
to the segments | ||||||||
Total | 1.4 | 1.0 | 2.0 | 4.5 | 3.9 | +0.6 | +1.1 | 3 |
(C)2025 Toho Titanium Co., Ltd. |
Difference in Operating Income between FY2024 3Q and FY2023 3Q
(In billions of JPY)
2.6→5.0
Titanium metal
1.6→1.6
Catalysts
1.0→(0.8)
Chemicals
10.0
8.0
6.0
4.0
2.0
0.0
Ore and electric power | Exchange rate | |||||||||
Price | (○)1.4 Other costs | (○)1.2 | Sales volume and price | |||||||
(×)0.8 | (○)0.6 | Exchange rate | Costs(Production cuts), etc. | |||||||
Sales volume | (○)1.4 | |||||||||
Human resource investment | (○)0.3 | (×)1.4 | Common costs | |||||||
(○)1.6 | ||||||||||
(×)0.3 | Changes in inventories, etc. | Sales volume and price | ||||||||
Costs, etc. | (×)0.1 | |||||||||
(×)0.2 | ||||||||||
(×)2.1 | (×)0.9 | |||||||||
Nickel ore-related items | ||||||||||
(×)0.2 |
FY2023 3Q | FY2024 3Q |
Operating income | Operating income |
3.9 | 4.5 |
(C)2025 Toho Titanium Co., Ltd. | 4 |
Difference in Operating Income between FY2024 3Q and FY2024 2Q
(In billions of JPY)
2.0→1.7
Titanium metal
0.3→0.6
Catalysts
(0.9)→0.1
Chemicals
2.5 | Nickel ore-related items | |||||||||||
(○)0.4 | ||||||||||||
2.0 | Costs, etc. | |||||||||||
1.5 | Ore and electric power | (○)0.8 | Common costs | |||||||||
Sales volume | Other costs | Changes in inventories, etc. | Costs, etc. | (×)0.0 | ||||||||
Price | (○)0.3 | (○)0.2 | ||||||||||
1.0 | (×)0.5 | (×)0.1 | (×)0.3 | |||||||||
(○)0.3 | ||||||||||||
Transportation cost | Exchange rate | Sales volume and price | ||||||||||
0.5 | (×)0.1 | Sales volume and price | (×)0.2 | |||||||||
(○)0.1 | ||||||||||||
(○)0.1 | ||||||||||||
0.0 | FY2024 2Q, Major production | |||||||||||
adjustments to improve the | ||||||||||||
FY2024 2Q | inventory balance of Ni powder. | FY2024 3Q | ||||||||||
Operating income | ||||||||||||
Operating income | ||||||||||||
1.0 | ||||||||||||
2.0 | ||||||||||||
(C)2025 Toho Titanium Co., Ltd. | 5 |
Consolidated Financial Forecasts for FY2024 forecast
(In billions of JPY)
FY2024 | FY2024 Previous | Change | |
full-year | forecast | ||
Net sales | 88.7 | 95.3 | -6.6 |
Operating Income | 5.3 | 5.7 | -0.4 |
Ordinary income | 5.0 | 5.0 | 0.0 |
Net income | 3.7 | 3.7 | 0.0 |
■ Lower sales volume due to delayed demand recovery mainly due to quality issues and strikes at Boeing and the prolonged economic stagnation in China.
■ The yen's depreciation (actual result up to 3Q of ¥153 /US$, 4Q assumption of ¥150 /US$, previous assumption of ¥145 /US$) is a factor behind the increase in profits.
(C)2025 Toho Titanium Co., Ltd. | 6 |
Consolidated Financial Forecasts for FY2024 forecast by Segment
(In billions of JPY) | |||||||||
Net sales | FY2024 | FY2024 | FY2024 | Previous forecast | Change | ||||
first half | second half | full-year | FY2024 full-year | (FY2024 full-year） | |||||
Titanium metal | 32.8 | 32.4 | 65.2 | 69.7 | -4.5 | ||||
Catalysts | 4.8 | 6.0 | 10.8 | 11.2 | -0.4 | ||||
Chemicals | 6.2 | 6.5 | 12.7 | 13.3 | -0.6 | ||||
Others | － | － | － | 1.1 | -1.1 | ||||
Total | 43.8 | 44.9 | 88.7 | 95.3 | -6.6 | ||||
Operating | FY2024 | FY2024 | FY2024 | Previous forecast | Change | ||||
Income | |||||||||
first half | second half | full-year | FY2024 full-year | (FY2024 full-year） | |||||
Titanium metal | 3.3 | 2.9 | 6.2 | 6.4 | -0.2 | ||||
Catalysts | 1.0 | 1.5 | 2.5 | 2.6 | -0.1 | ||||
Chemicals | (1.0) | (0.5) | (1.4) | (1.4) | 0.0 | ||||
Common costs and | |||||||||
expenses not | (0.9) | (1.1) | (2.0) | (1.9) | -0.1 | ||||
allocated to the | |||||||||
segments | |||||||||
Total | 2.4 | 2.9 | 5.3 | 5.7 | -0.4 | ||||
(C)2025 Toho Titanium Co., Ltd. 7 |
FY2024 Difference in Operating Income between financial forecast and Previous forecast
(In billions of JPY)
8.0
6.0
4.0
2.0
0.0
6.4→6.2 | 2.6→2.5 | (1.4) →(1.4) |
Titanium metal | Catalysts | Chemicals |
Sales volume | Changes in inventories, etc. | Sales volume and price | ||||||
(○)0.7 | Costs(Production cuts), etc. | (×)0.2 | Common costs | |||||
(×)1.9 | Exchange rate | (×)0.3 | (×)0.1 | |||||
Price | Transportation cost | (○)1.3 | Sales volume and price | Exchange rate | Costs, etc. | |||
(○)0.2 | (×)0.3 | |||||||
(×)0.1 | ||||||||
Ore and electric power | (○)0.3 | (○)0.2 | ||||||
Other costs | ||||||||
(×)0.1 | (×)0.1 |
Previous forecast | FY2024 full-year |
Operating income | Operating income |
5.7 | 5.3 |
(C)2025 Toho Titanium Co., Ltd. | 8 |