Toyobo : Presentation to Investors for the First Quarter Ended June 30, 2023 (305KB)

August2023. 8.7,7 2023

Presentation to Investors

for the First Quarter Ended June 30, 2023

TOYOBO CO., LTD.

Highlights

Q1 FY 3/24 Results

• Sales and operating profit decreased amid sluggish recovery in demand for packaging film combined with a downturn in sales of reagents for PCR testing, despite growth in sales of polarizer protective films for LCDs. Loss was ¥0.5 bn.

Net sales		Operating profit (loss)		Profit attributable to
		owners of parent (loss)

-3.9%
(¥ bn.)
101.0	97.1
Q1 FY 3/23	Q1 FY 3/24

4.6

-0.1

Q1 FY 3/23 Q1 FY 3/24

7.8

-0.5

Q1 FY 3/23 Q1 FY 3/24

FY 3/24 Forecasts

Forecasts of operating profit of ¥15.0 bn. and net profit of ¥4.0 bn. remain unchanged amid recovery in sales volume of films and automotive-related products and improvements in terms of trade.

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Summary of Results: P&L

						(¥ bn.)
		FY 3/23	FY 3/24	YOY
		Q1	Q1	Amount		%
Net sales		101.0	97.1	- 4.0		- 3.9%
Operating profit	4.6	-0.1	- 4.7		-
(Ratio to sales)	4.6%	-0.1%	-		-
Ordinary profit	4.3	-0.3	- 4.6		-
Extraordinary income	6.8	0.0	- 6.8		-
Extraordinary losses	0.3	0.5	+ 0.3		-
Profit attributable to owners of parent	7.8	-0.5	- 8.3		-
EBITDA*	*Operating profit + Depreciation (including goodwill)	9.5	4.4	- 5.0		- 53.2%
EPS ()		87.7	-5.8	-		-
Depreciation	4.8	4.5	- 0.3		- 6.8%
CAPEX		9.0	10.8	+ 1.8		+ 20.0%
R&D expenses	3.7	3.4	- 0.2		- 6.8%

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Analysis in Changes in Operating Profit

（¥bn.）

6.0

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

Raw materials and fuel costs

- 3.0	Prices	Volume
	+ 2.2	- 3.0

4.6			Others
		- 0.9	- 0.1
				( - 4.7 )
	- Reagents for PCR testing	- Testing expenses
	- Packaging film
	- Development of the
	- Mold releasing film for MLCC
		business base
Q1 FY 3/23			Q1 FY 3/24
	- New company cost

		FY 3/22			FY 3/23			FY 3/24
		Q3		Q4	Q1		Q2	Q3		Q4	Q1
	Exchange rate (/US$)	114		116	130		138	141		132	137
	Naphtha price in Japan (thousand/kl)	61		66	86		81	72		67	67	4
		63		84		70	-

Summary of Results: BS

				(B)	(A)	(¥bn.)
			Mar. 31, 2022	Mar. 31, 2023	Jun. 30, 2023	(A) - (B)
Total assets	517.8	588.9	569.5	- 19.4
	Cash and deposits	27.2	60.7	30.7	- 30.1
	Inventories	96.0	121.9	125.2	+ 3.3
	Property, plant and equipment	227.6	240.2	247.6	+ 7.4
Net assets	197.1	221.4	219.9	- 1.5
	Shareholder's equity	194.9	189.6	188.7	- 0.9
		(Retained earnings)	74.7	70.5	66.4	- 4.0
	Non-controlling interests	2.3	31.8	31.2	- 0.6
Interest-bearing debt	191.2	229.4	221.4	- 8.0
D/E ratio	0.98	1.21	1.17	-
Net Debt / EBITDA ratio*	3.4	5.8	10.8	-

* (Interest-bearing debt - Cash and deposits)＜Ending＞／ EBITDA＜Annualized＞

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