2018.11.6Announcement of the Settlement of Accounts for the Second Quarter of the Year Ending March 2019
(Note) Figures shown have been rounded down to the nearest million yen
Our settlement of accounts for the Second quarter of the year ending March 2019 was announced on the afternoon of Tuesday, November 6 at the Tokyo Stock Exchange Press Club. An outline of the accounts is presented below.
Consolidated Results for the Second Quarter of the Year Ending March 2019 (April 1, 2018 to September 30, 2018)
|Revenue||Operating profit||Ordinary profit||Net income attributable to shareholders of parent company for quarter|
|(millions of yen)||(%)||(millions of yen)||(%)||(millions of yen)||(%)||(millions of yen)||(%)|
|Second quarter of the
year ending March 2019
|Second quarter of the
year ending March 2018
- *Comprehensive income:
- The Second Quarter of the Year ending March 2019: (658) million yen -%
- The Second Quarter of the Year ending March 2018: 4,670 million yen -%
Net sales decreased. Although sales in China grew, revenues declined due to our strategy of focusing on profitable sales and the impact of yen appreciation against the US dollar and Brazilian real. Operating profit increased thanks to raw material cost reductions and other factors.
Overviews by division are as follows
Oil and Fats Division
Revenues decreased due to sales strategy focused on profitability for frying oils, etc.
Income increased thanks to successful sales strategies.
Revenues decreased on factory operations shutdown due to cold climate and the impact of the weak US dollar.
Income decreased due to declining revenues in the USA.
Confectionery and Bakery Ingredients
Revenues declined due to stagnant sales of chocolate foods for the ice cream market and filling sales.
Income also declined due to unfavorable sales of fillings and dessert products.
Revenues increased thanks to favorable sales of fillings and margarine in China covering the impact of currency fluctuations for the Brazilian real.
Income increased on factors related to consolidated adjustments related to the realization of unrealized income from inventory assets.
Soy protein ingredients sales were favorable on sales for health foods and prepared processed foods but revenues decreased due to declining sales of protein foods for frozen tofu.
Income decreased due to declining sales.
In China, revenues increased thanks to favorable sales.
Income is largely unchanged year on year thanks to improve profitability.
Forecasts for Consolidated Results for the Year Ending March 2019 (April 1, 2018 to March 31, 2019)
|Revenue||Operating profit||Ordinary profit||Net income attributable to shareholders of parent company||Net income
|(millions of yen)||(%)||(millions of yen)||(%)||(millions of yen)||(%)||(millions of yen)||(%)||(yen)|
(Note) Revised from most recently released earnings forecast: Yes
We revised our earnings forecast for FY2018 to reflect our assessment that net sales will underperform initial forecasts largely due to a focus on profitability at overseas Group companies in our Oils and Fats Division and the impact of currency fluctuations at overseas Group companies in our Confectionary and Bakery Ingredients Division. In light of earnings for the cumulative second quarter and current earnings trends, we made no changes to initial forecasts.
*Explanation and other notes regarding appropriate utilization of the predictions
The forecasts above have been made based on assumptions deemed rational together with information available at the time of this announcement, and the actual results may differ from these forecasts due to various factors.
End of report