Financial Results of the First Quarter for FY2024
(April 1, 2024 - June 30, 2024)
August 2, 2024
TYO 7231
This material is not a disclosure document under the Financial Instruments and Exchange Act and does not guarantee the accuracy or completeness of its information. The forward-looking statements in this material are based on information available at the time the material was prepared and include uncertainties. Investors are advised not to make investment decisions based solely on this information. In no event will the Company be liable for any loss or damage whatsoever resulting from the use of this material.
Financial Results of the First Quarter for FY2024
(compared to FY2023)
Net sales
Decrease in sales
Decrease | |
Operating profit | |
in income | |
(100 millions of yen)
FY2023 1Q | FY2024 1Q | YoY | ||
Results | Results | Change | Increase/decrease (%) | |
Net sales | 815 | 736 | (79) | (9.7)% |
Operating profit | 16 | 1 | (15) | (91.3)% |
Operating profit margin | 1.9% | 0.2% | (1.7)% | |
Ordinary profit | 24 | 14 | (10) | (42.2)％ |
Profit attributable | 17 | 7 | (10) | (58.2)％ |
to owners of parent | ||||
Compared to same period of the past FY
Quarterly changes | (100 millioms of yen) |
50 | 1,000 |
Net sales Operating profit
(9)
16 |
(6)
(100 millioms of yen)
1
38 | 800 | |||||
24 | ||||||
17 | 21 | 18 16 | ||||
15 | 600 | |||||
6 | ||||||
1 | ||||||
(5) (9) (6) | (9) (6) | 400 | ||||
460 557
750 815 736
(19) | 200 |
(23) |
0
(23)
FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
1Q | 1Q | 1Q | 1Q | 1Q |
Copyright©2024 Topy Industries, Limited All Rights Reserved.
Apl.-Jun.Jul.-Sep.Oct.-Dec.Jan.-Mar.Apl.-Jun. | Jul.-Sep.Oct.-Dec. | Jan.-Mar.Apl.-Jun.Jul.-Sep.Oct.-Dec.Jan.-Mar. | Apl.-Jun.Jul.-Sep.Oct.-Dec. |
FY2020 | FY2021 | FY2022 | FY2023 |
Apl.-Jun.
Jan.-Mar.
FY2024 1
Results by segment
(compared to FY2023)
(100 millions of yen) | |||||||||
YoY | |||||||||
FY2023 1Q Results | FY2024 1Q Results | ||||||||
Change | Increase/decrease (%) | ||||||||
Net sales | Operating | Net sales | Operating | Net sales | Operating | Net sales | Operating | ||
profit | profit | profit | profit | ||||||
Steel | 277 | 24 | 266 | 19 | (11) | (5) | (3.9)% | (21.9)% | |
Segment | |||||||||
Automotive and | |||||||||
Industrial | 494 | 9 | 452 | (5) | (42) | (14) | (8.5)% | ― | |
Machinery | |||||||||
Components | |||||||||
Segment | |||||||||
Others | 44 | (4) | 18 | 2 | (26) | 6 | (58.8)% | ― | |
Head office | ― | (14) | ― | (15) | ― | (1) | ― | ― | |
Total | 815 | 16 | 736 | 1 | (79) | (15) | (9.7)% | (91.3)％ | |
Copyright©2024 Topy Industries, Limited All Rights Reserved. | 2 |
Factors for change in operating profit
(compared to FY2023)
Factors for increase in profit
Factors for decrease in profit
16
(100 millions of yen)
(13) | 3 | 1 | |
6 | |||
2 | |
11 | |
(13) | (4) |
(7)
FY2023 1Q | Quantity & Selling price | Raw | Energy & | Foreign | Labor costs | Others | Cost | FY2024 1Q |
Operating | Variety mix | materials | Sub | exchange | improvement | Operating | ||
profit | materials | profit |
Copyright©2024 Topy Industries, Limited All Rights Reserved. | 3 |
Overview of business results by segment
(1) Steel
Compared to same period of the past FY | Quarterly changes |
Net sales | (100 millioms of yen) | 31 |
27 | ||
Operating profit | 24 |
19
(100 millioms of yen)
31 800
24 | 22 | 20 19 | |
20 | 600 |
7
152 151
(5) |
FY2020 FY2021
1Q1Q
264
2 277 266
FY2022 FY2023 FY2024
1Q1Q1Q
7 | 3 | 3 | 5 | 400 | |||
2 | |||||||
0 | |||||||
(3)(3) | |||||||
(5) | 200 | ||||||
Apl.-Jun.Jul.-Sep.Oct.-Dec. | Jan.-Mar.Apl.-Jun.Jul.-Sep.Oct.-Dec.Jan.-Mar. | Apl.-Jun.Jul.-Sep.Oct.-Dec.Jan.-Mar. | Apl.-Jun.Jul.-Sep.Oct.-Dec. | 0 | |||
Jan.-Mar.Apl.-Jun. | |||||||
FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
Operating profit analysis
Factors for increase in profit | |||||
Factors for decrease in profit | |||||
11 | 0 | (100 millions of yen) | |||
3 | |||||
24 | (2) | (1) | |||
(5) | (4) | 19 |
(7)
FY2023 1Q | Quantity & | Selling | Raw | Energy & Sub | Foreign | Labor costs | Others | Cost | FY2024 1Q |
Operating | Variety mix | price | materials | materials | exchange | improvement | Operating | ||
profit | profit |
Copyright©2024 Topy Industries, Limited All Rights Reserved.
Business status
(Unit: 1,000 tons, ¥1,000/tons) | ||||
FY2023 | FY2024 | Change | ||
1Q | 1Q | |||
Sales | steel | |||
Shaped | 189 | 186 | (3) | |
Volume | ||||
Steel bars | 46 | 43 | (3) | |
Total | 235 | 230 | (5) | |
Selling price | 114.8 | 112.0 | (2.8) | |
Scrap payout | 49.6 | 51.3 | 1.7 | |
unit price | ||||
Spreads | 65.2 | 60.7 | (4.5) | |
*Including internal sales
4
Overview of business results by segment
(2) Automotive and industrial machinery components
Compared to same period of the past FY | Quarterly changes |
Net sales | (100 millioms of yen) | |
Operating profit | 10 | 9 |
6
439 | 494 | 452 | ||
378 | ||||
279 | (5) | |||
(18) | ||||
FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
1Q | 1Q | 1Q | 1Q | 1Q |
(100 millioms of yen) | |||||||||
24 | 24 | 27 | 600 | ||||||
6 | 10 | 10 | 6 | 11 14 | 9 | 9 | 13 | 6 | |
5 | 400 | ||||||||
(5) | |||||||||
(14) | 200 | ||||||||
(18) |
0
Apl.-Jun.Jul.-Sep.Oct.-Dec.Jan.-Mar.Apl.-Jun. | Jul.-Sep.Oct.-Dec.Jan.-Mar. | Apl.-Jun.Jul.-Sep.Oct.-Dec. | Jan.-Mar.Apl.-Jun.Jul.-Sep.Oct.-Dec. | Jan.-Mar.Apl.-Jun. |
FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
Operating profit analysis
Factors for increase in profit | |||||||||||||
Factors for decrease in profit | |||||||||||||
9 | (100 millions of yen) | ||||||||||||
(9) | |||||||||||||
4 | 0 | △5 | |||||||||||
2 | |||||||||||||
(8) | (0) | (0) | (3) | ||||||||||
FY2023 1Q | Quantity & | Selling | Raw | Energy & Sub | Foreign | Labor costs | Others | Cost | FY2024 1Q | ||||
Operating | Variety mix | price | materials | materials | exchange | improvement | Operating | ||||||
profit | profit | ||||||||||||
Copyright©2024 Topy Industries, Limited All Rights Reserved. | 5 |
Business environment
Domestic steel orders received (by application)
(thousand tons) | Manufacturing excluding automobiles | |||||
8,000 | Automobiles | |||||
6,000 | Construction | |||||
4,000 | ||||||
2,000 | ||||||
0 | Oct-DecJan-MarApr-JunJul-Sep | |||||
Jan-MarApr-JunJul-Sep | Oct-DecJan-MarApr-JunJul-Sep | Oct-DecJan-MarApr-JunJul-Sep | Oct-DecJan-Mar | |||
2020 | 2021 | 2022 | 2023 | 2024 |
Source:The Japan Iron and Steel Federation
Domestic crude steel production volume
(thousand tons) | Blast furnace | |||||
30,000 | Electric fuenace | |||||
20,000 | ||||||
10,000 | ||||||
0 | Oct-DecJan-MarApr-Jun | |||||
Jan-MarApr-JunJul-Sep | Oct-DecJan-MarApr-JunJul-Sep | Oct-DecJan-MarApr-JunJul-Sep | Oct-DecJan-MarApr-JunJul-Sep | |||
2020 | 2021 | 2022 | 2023 | 2024 |
Source:The Japan Iron and Steel Federation
Domestic production units
(1,000units) | (1,000units) | Light vehicles | (1,000units) | |||||||||
2,000 | Passenger vehicles | 400 | 400 | |||||||||
1,500 | ||||||||||||
1,000 | 200 | 200 | ||||||||||
500 | ||||||||||||
0 | 0 | 0 | ||||||||||
Apr-Jun | Jul-SepOct-DecJan-Mar | Apr-JunJul-Sep | Oct-DecJan-MarApr-Jun | Apr-JunJul-SepOct-Dec | Jan-MarApr-JunJul-SepOct-Dec | Jan-MarApr-Jun | ||||||
Apr-Jun | ||||||||||||
2022 | 2023 | 2024 | 2022 | 2023 | 2024 |
Copyright©2024 Topy Industries, Limited All Rights Reserved.
Commercial vehicles | (1,000units) | Mini excavators | ||||||
60 | Hydraulic excavators | |||||||
40 | ||||||||
20 | ||||||||
0 | ||||||||
Jul-SepOct-Dec | Jan-MarApr-JunJul-Sep | Oct-DecJan-Mar | Apr-Jun | Jul-SepOct-Dec | Jan-MarApr-JunJul-SepOct-Dec | Jan-Mar | ||
2022 | 2023 | 2024 | 2022 | 2023 | 2024 | |||
Source: Japan Construction Equipment 6 | ||||||||
Source: MARKLINES | ||||||||
Manufacturers Association |
Business environment
Ferrous scrap price
(¥1,000/tons)
60 | ||||
40 | ||||
20 | ||||
0 | ||||
Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. | ||||
2020 | 2021 | 2022 | 2023 | 2024 |
Source:Source: Japan Metal Daily, The Japan ferrous raw materials association | ||||
(H2, before maker furnace, average of 3 districts) | ||||
Aluminum price | ||||
(Nikkei average) | ||||
(¥1,000/tons） | ||||
600 | ||||
500 | ||||
400 | ||||
300 | ||||
200 | ||||
100 | ||||
0 | Oct. Jan. Apr. Jul. | Oct. Jan. Apr. Jul. | Oct. Jan. Apr. Jul. | Oct. Jan. Apr. |
Jan. Apr. Jul. | ||||
2020 | 2021 | 2022 | 2023 | 2024 |
Copyright©2024 Topy Industries, Limited All Rights Reserved. | Source:Nikkal Shoko |
Electricity
250 ※Unit price for the Company's Toyohashi Plant Calculated with January 2020 unit price set at 100
200
150
100
50
0
Jan. Apr. Jul. | Oct. Jan. Apr. Jul. | Oct. Jan. Apr. Jul. | Oct. Jan. Apr. Jul. | Oct. Jan. Apr. |
2020 | 2021 | 2022 | 2023 | 2024 |
7
Forecast for FY2024
There are no change in the consolidated financial forecast from the previous forecast.
(100 millions of yen)
FY2024 | FY2024 | FY2024 | |||
1Q | First half | ||||
(Forecasts) | |||||
Results | (Forecasts) | ||||
Net sales | 736 | 1,540 | 3,170 | ||
Operating profit | 1 | 18 | 86 | ||
Ordinary profit | 14 | 19 | 90 | ||
Profit attributable to owners of parent | 7 | 19 | 72 | ||
Dividend per share (yen) | ― | 30 | 73 | ||
Copyright©2024 Topy Industries, Limited All Rights Reserved. | 8 |
Reference:
net sales composition by segment and business area
Steel
（36％）
Others | Wheels for | |
passenger vehicles | ||
(2 | ％ | ) |
(27％) |
Automotive and | |
FY2024 1Q Industrial Machinery | |
Net sales | Components |
73.6 billion | |
（62％） |
Undercarriage parts
for construction
machinery
（15%）
Others | Wheels for commercial vehicles |
and construction machinery | |
（10%） | |
（10%） | |
Copyright©2024 Topy Industries, Limited All Rights Reserved. | 9 |