News Release

2021.2.5Announcement of the Settlement of Accounts for the 3rd Quarter of the Year Ending March 2021

(Note) Figures shown have been rounded down to the nearest million yen

Our settlement of accounts for the 3rd quarter of the year ending March 2021 was announced on the afternoon of Friday, February 5th at the Tokyo Stock Exchange Press Club. An outline of the accounts is presented below.

Consolidated Results for the 3rd quarter of the Year Ending March 2021 (April 1, 2020 to December 31, 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 3rd quarter of the year ending March 2021 273,144 (6.3) 13,522 (18.7) 12,865 (14.9) 8,613 (28.4)
The 3rd quarter of the year ending March 2020 291,499 28.6 16,640 4.4 15,113 (3.4) 12,031 33.5

*Comprehensive income:  The 3rd quarter of the Year ending March 2021: 4,121million yen (16.8%)
The 3rd quarter of the Year ending March 2020: 4,953 million yen (40.1%)

FY2020 Q3 Consolidated Financial Highlights

Revenue decreased due to the lower sales volume mainly in the Vegetable Oils and Fats business and the Industrial Chocolate Business caused by COVID-19. Operating profit decreased due to lower sales in all Business segments and soaring raw material prices, despite futures valuation gains in Blommer.

FY2020 3rd quarter Segment Highlights

Vegetable Oils and Fats

Revenue decreased due to lower sales volume caused by COVID-19 in Southeast Asia and Europe.
Profit decreased due to lower sales in Europe and lower profitability caused by higher raw material costs in the Americas.

Industrial Chocolate

Revenue decreased due to lower sales volume in Japan and the Americas caused by COVID-19. Although Blommer recorded a gain on valuation of futures, profits decreased due to lower sales and worsening profitability mainly caused by the depreciation of the Brazilian real.

Emulsified and Fermented Ingredients

Revenue decreased due to the transfer of Toraku Foods.Co.,Ltd.Corporation and lower sales volume in Japan and Southeast Asia caused by COVID-19. Operating profit decreased due to lower sales in Japan and Southeast Asia, despite higher sales volume in China.

Soy-based Ingredients

Revenue decreased due to the liquidation of the soy milk business and lower sales volume of functional ingredients and soy protein foods caused by COVID-19. Operating profit decreased due to the aforementioned decrease in sales, despite steady sales of soy protein ingredient.

FY2020 Q3 Revenue and Operating profit by Segment

Unit : JPY million FY2019
Q3 Total*
FY2020
Q3 Total
Change
Revenue 291,505 273,144 (18,361)
 Vegetable Oils and Fats 72,824 72,163 (661)
 Industrial Chocolate 130,314 122,094 (8,220)
 Emulsified and Fermented Ingredients 61,635 52,835 (8,800)
 Soy-based Ingredients 26,732 26,050 (682)
Operating profit 17,105 13,522 (3,583)
 Vegetable Oils and Fats 7,357 5,586 (1,771)
 Industrial Chocolate 5,880 5,445 (435)
 Emulsified and Fermented Ingredients 3,497 2,461 (1,036)
 Soy-based Ingredients 3,114 2,686 (428)
 Group administrative expenses (2,741) (2,656) +85

*For overseas consolidated subsidiaries subject to accounting period change in FY2019, FY2019 3Q total is April – December 2020.

Main KPI

FY2019
Q3
FY2020
Q3
Change
ROE 10.3% 7.5% (2.8)
ROA 5.2% 4.7% (0.5)
ROIC 4.7% 3.9% (0.8)
Net D/E Ratio 0.87 0.76 (0.11)
CCC 118 days 110 days (8 days)

*Main KPI is annual reference figures.

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)
The year ending
March 2021
360,000 16,500 15,300 10,000 116.33

*1 Revised from most recently released earnings forecast: No
*2 For the previous 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.

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