August 9, 2023
Attention: All concerned parties
Toyo Tanso Co., Ltd.
5-7-12 Takeshima, Nishiyodogawa-ku, Osaka 555-0011, Japan (Stock Exchange Code: 5310, Prime Market, Tokyo Stock Exchange)
Notification of Differences between Consolidated Earnings Forecasts for First Half of Fiscal Year and Actual Results, Revisions to Consolidated Earnings Forecasts for Fiscal Year, and Revisions to Dividend Forecasts for Fiscal Year
The consolidated earnings forecasts announced on February 14, 2023 for the first half of the fiscal year ending December 31, 2023 (January 1, 2023 - June 30, 2023) differ from the actual results announced today, as noted below.
Also, based on the latest business circumstances, we have revised the earnings forecast and dividend forecasts for the consolidated fiscal year (January 1, 2023 - December 31, 2023) as follows.
Particulars
1. Differences between consolidated earnings forecasts for first half of fiscal year and actual results, and revisions to consolidated earnings forecasts for fiscal year
- Differences between consolidated earnings forecasts and actual results for first half of fiscal year ending December 31, 2023 (January 1, 2023 - June 30, 2023)
Profit | Basic earnings | ||||
Net sales | Operating | Ordinary | attributable to | ||
income | income | owners of | per share | ||
parent | |||||
(million yen) | (million yen) | (million yen) | (million yen) | (yen) | |
Previous forecast (A) | 23,000 | 3,800 | 3,800 | 2,600 | 123.97 |
Actual results (B) | 23,712 | 4,610 | 5,338 | 4,128 | 196.85 |
Amount of increase/decrease (B-A) | 712 | 810 | 1,538 | 1,528 | - |
Percentage of increase/decrease (%) | 3.1 | 21.3 | 40.5 | 58.8 | - |
(Ref.) Results for the first half of the | |||||
previous fiscal year (first half of the | 20,293 | 3,039 | 3,705 | 2,564 | 122.29 |
fiscal year ended December 31, | |||||
2022) | |||||
- Revision of figures in consolidated earnings forecast for the year ending December 31, 2023 (January 1, 2023 - December 31, 2023)
Profit | |||||
Net sales | Operating | Ordinary | attributable to | Basic earnings | |
income | income | owners of | per share | ||
parent | |||||
(million yen) | (million yen) | (million yen) | (million yen) | (yen) | |
Previous forecast (A) | 47,000 | 8,000 | 8,000 | 5,500 | 262.25 |
Revised forecast (B) | 48,500 | 8,500 | 9,300 | 7,000 | 333.77 |
Amount of increase/decrease (B-A) | 1,500 | 500 | 1,300 | 1,500 | - |
Percentage of increase/decrease (%) | 3.2 | 6.3 | 16.3 | 27.3 | - |
(Ref.) Previous fiscal year results | 43,774 | 6,667 | 7,369 | 5,181 | 247.08 |
(Year ended December 31, 2022) | |||||
- Reasons for differences and revision
In the first half of the consolidated fiscal year under review, net sales were more or less in line with the plan, while operating profit exceeded the plan due to the posting of one-off sales of high- value-added products, in addition to the exchange rate continuing to be weaker than anticipated. In addition, ordinary profit and profit attributable to owners of parent substantially exceeded the plan reflecting foreign exchange gains and subsidy income, which were recorded in non- operating income and extraordinary income, respectively.
As it is anticipated that the yen's weakness will continue to a certain extent in the third quarter and beyond, we have changed our exchange rate assumptions. In line with this change, we have revised the full-year consolidated earnings forecast for the fiscal year ending December 31, 2023
*Exchange rates for the fiscal year ending December 31, 2023
Actual exchange rates for the consolidated first half: 134.8 yen/US$, 145.8 yen/EUR, 19.5 yen/CNY
Assumed exchange rates for the third quarter and beyond: 133 yen/US$, 146 yen/EUR,
19 yen/CNY
2. Revisions to dividend forecasts
(1) Revisions to dividend forecasts
Dividends per share (yen) | ||||||||||
First | Second | Third | Year-end | Total | ||||||
quarter-end | quarter-end | quarter-end | (Full year) | |||||||
Previous forecast | - | 0.00 | - | 80.00 | 80.00 | |||||
Revised forecast | - | 0.00 | - | 90.00 | 90.00 | |||||
Actual results for the | ||||||||||
fiscal | year | ending | - | 0.00 | ||||||
December 31, 2023 | ||||||||||
(Ref.) Results for the | ||||||||||
previous fiscal year | - | 0.00 | - | 70.00 | 70.00 | |||||
(fiscal | year | ended | ||||||||
December 31, 2022) | ||||||||||
- Reasons for differences and revision
Our basic policy for profit allocation is to make strategic investments in order to strengthen our competitiveness and enhance our value over the long term and return profits to shareholders in a continuous and stable fashion with due consideration of business results for the fiscal year, funding needs for the future expansion of our business operations, and consolidation of our business foundation. Under this policy, the profit level and financial position for the fiscal year ending December 31, 2023, and the financial demands for the following fiscal period and beyond have been comprehensively considered, and the year-end dividends for the fiscal year ending December 31, 2023, have been adjusted to 90 yen, representing a 10-yen increase from the initial forecast.
Note: The above forecasts are based on the information available when these materials were
released, and actual results may differ from these forecasts due to various factors.
Please direct inquiries regarding the current situation to:
Toyo Tanso Co., Ltd.
Publicity & Investor Relations
E-mail: info@toyotanso.co.jp
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Toyo Tanso Co. Ltd. published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2023 06:38:02 UTC.