2019.2.6Announcement of the Settlement of Accounts for the Third 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 Third quarter of the year ending March 2019 was announced on the afternoon of Wednesday, February 6 at the Tokyo Stock Exchange Press Club. An outline of the accounts is presented below.
Consolidated Results for the Third Quarter of the Year Ending March 2019 (April 1, 2018 to December 31, 2018)
|Revenue||Operating profit||Ordinary profit||Net income attributable to shareholders of parent company|
|(millions of yen)||(%)||(millions of yen)||(%)||(millions of yen)||(%)||(millions of yen)||(%)|
|Third quarter of the
year ending March 2019
|Third quarter of the
year ending March 2018
- *Comprehensive income:
- The Third Quarter of the Year ending March 2019: 3,536 million yen (70.9)%
- The Third Quarter of the Year ending March 2018: 12,170 million yen 147.6%
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 and filling sales.
Income also declined due to unfavorable sales of 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 decreased due to preparations declined in Southeast Asia.
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 increased 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 conducted a downward revision for net sales in our FY2018 full-year forecast. We project net sales will decline beyond the range indicated in our previous revision mainly due to decreased profit-focused sales at overseas Group companies in the Oils and Fats division and the impact of currency fluctuations on overseas companies in the Confectionery and Bakery Ingredients division.
We conducted a downward revision for income in our FY2018 full-year forecast. Although operating income transitioned favorably from 1Q to 3Q, this is mainly due to current performance trending below original forecasts, expenses incurred in relation to the acquisition of the Blommer Chocolate Company in the US, and due to recording impairment losses based on an assumption of the transfer of ownership for a Chinese subsidiary.
*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