News Release
Financial results
FUJI OIL HOLDINGS
Announcement of the Settlement of Accounts for the 1st Quarter of the Year Ending March 2021
2020.8.5
(Note) Figures shown have been rounded down to the nearest million yen
Our settlement of accounts for the 1st quarter of the year ending March 2021 was announced on the afternoon of Wednesday, August 5th at the Tokyo Stock Exchange Press Club. An outline of the accounts is presented below.
Consolidated Results for the 1st quarter of the Year Ending March 2021 (April 1, 2020 to June 30, 2020)
Consolidated operating results (total)
(% is in comparison to the previous year)
| 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) | (%) | |
| The 1st quarter of the year ending March 2021 | 82,667 | (12.9) | 4,265 | 6.1 | 3,805 | 8.1 | 2,826 | (15.1) |
| The 1st quarter of the year ending March 2020 | 94,930 | 24.2 | 4,019 | (31.0) | 3,521 | (38.6) | 3,331 | (4.5) |
*Comprehensive income: The 1st quarter of the Year ending March 2021: 698 million yen (81.6%)
The 1st quarter of the Year ending March 2020: 3,800 million yen 8536.4%
During the 3rd quarter of the fiscal year ended March 2020, we finalized provisional accounting treatments related to corporate consolidation. As such, figures related to the 1st quarter of the fiscal year ended March 2020 reflect the application of provisional accounting treatments.
FY2020 Q1 Consolidated Financial Highlights
Revenue decreased on lower sales volume for the Industrial Chocolate business and the Emulsified and Fermented Ingredients business due to the impact of the novel coronavirus. Operating profit increased despite decreased income from the Emulsified and Fermented Ingredients business thanks to Blommer futures valuation gains and firm sales from the Soy-based Ingredients business.
FY2020 1st quarter Segment Highlights
Vegetable Oils and Fats
Revenue decreased as a result of lower sales volume in Southeast Asia and Europe due to the impact of the novel coronavirus. Profit decreased on lower sales in Europe despite sales of high-value added products in Southeast Asia and Japan.
Industrial Chocolate
Revenue decreased as a result of lower sales volume in Japan and Brazil due to the impact of the novel coronavirus. Profit increased despite decreased revenue thanks to Blommer futures valuation gains and firm sales.
Emulsified and Fermented Ingredients
Revenue and profit both decreased due to lower sales volume for cream and margarine in Japan, poor performance by the Preparations business in Southeast Asia, and lower sales volume for margarine and filling in China.
Soy-based Ingredients
Revenue decreased due to impact of selling our Chinese subsidiary during the previous fiscal year. However, profit increased on firm sales of soy protein ingredients and functional agents in Japan.
FY2020 Q1 Revenue and Operating profit by Segment
| Unit : JPY million | FY2019 Q1 | FY2020 Q1 | Change |
|---|---|---|---|
| Revenue | 94,930 | 82,667 | (12,263) |
| Vegetable Oils and Fats | 24,606 | 22,315 | (2,291) |
| Industrial Chocolate | 40,769 | 35,340 | (5,429) |
| Emulsified and Fermented Ingredients | 20,639 | 16,453 | (4,186) |
| Soy-based Ingredients | 8,916 | 8,557 | (359) |
| Operating profit | 4,019 | 4,265 | 246 |
| Vegetable Oils and Fats | 1,916 | 1,832 | (84) |
| Industrial Chocolate | 1,045 | 1,989 | 944 |
| Emulsified and Fermented Ingredients | 877 | 181 | (696) |
| Soy-based Ingredients | 1,027 | 1,156 | 129 |
| Consolidated adjustment / Group administrative expenses | (846) | (894) | (48) |
Main KPI
| FY2019 Q1 | FY2020 Q1 | Change | |
|---|---|---|---|
| ROE | 8.4% | 7.3% | (1.1) |
| ROA | 3.6% | 4.2% | 0.6 |
| ROIC | 3.5% | 3.7% | 0.2 |
| Net D/E Ratio | 0.90 | 0.74 | (0.16) |
| CCC | 123 days | 128 days | 5 days |
Forecasts for Consolidated Results for the Year Ending March 2021 (April 1, 2020 to March 31, 2021)
(% is in comparison to the previous year)
| Revenue | Operating profit | Ordinary profit | Net income attributable to shareholders of parent company | Net income per share | |||||
|---|---|---|---|---|---|---|---|---|---|
| (millions of yen) | (%) | (millions of yen) | (%) | (millions of yen) | (%) | (millions of yen) | (%) | (yen) | |
| First 2 Quarters (Aggregate) | 155,000 | ─ | 5,500 | ─ | 4,900 | ─ | 2,700 | ─ | 31.41 |
| The year ending March 2021 | 370,000 | ─ | 19,300 | ─ | 17,800 | ─ | 11,500 | ─ | 133.79 |
*Qualitative information regarding forecast consolidated figures
For the current consolidated fiscal year, the transitional period during this change in accounting periods, the accounting period for overseas consolidated subsidiaries subject to the accounting period change shall be the 15-month period from January 1, 2019 to March 31, 2020. As such, we do not indicate the rate of change (%) in YoY performance.
Consolidated Financial Guidance for FY2020
There is no change to the full-year earnings forecast we announced on May 12, 2020. We will continue to analyze changes in our operating environment and will provide disclosure immediately in the event of a need to reevaluate forecasts.