News Release

2021.5.11Announcement of the Settlement of Accounts for the Year Ending March 2021

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

Our settlement of accounts for the year ending March 2021 was announced on the afternoon of Tuesday, May 11th at the Tokyo Stock Exchange Press Club. An outline of the accounts is presented below.

Consolidated Results for the Year Ending March 2021 (April 1, 2020 to March 31, 2021)

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 year ending March 2021 364,779 17,911 17,565 11,014
The year ending March 2020 414,727 23,598 22,359 16,375

*Comprehensive income:  The Year ending March 2021: 11,486million yen (‐%)
 The Year ending March 2020: 4,440 million yen (‐%)

Note: Due to a change in the fiscal year-end of 19 overseas consolidated subsidiaries, the actual results for fiscal 2019 are based on a 15-month (January 1, 2019 to March 31, 2020) fiscal year-end for the relevant consolidated subsidiaries. As a result, the percentage change from the previous fiscal year is not stated.
Year-on-year comparisons of consolidated financial highlights, segment highlights, and segment results are based on comparisons with the same month of the previous fiscal year, April 2019 to March 2020.

FY2020 Q4 Consolidated Financial Highlights

Revenue decreased due to the lower sales volume mainly in the Industrial Chocolate Business caused by COVID-19, although the rise in raw material prices had an impact. Operating profit decreased due to lower sales in the Industrial Chocolate Business and soaring raw material prices, despite futures valuation gains in Blommer.

FY2020 Q4 Segment Highlights

Vegetable Oils and Fats

Revenue increased due to higher raw material prices, despite a decrease in sales volume due to the impact of COVID-19.
Operating profit decreased due to lower sales volume of vegetable fats for chocolate and the impact of higher raw material prices.

Industrial Chocolate

Revenue decreased due to lower sales volume mainly in the Americas caused by COVID-19. Operating profits increased due to a gain on valuation of futures of Blommer, despite lower sales volume 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. 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 despite an increase in the volume of soy protein ingredients. Operating profit decreased due to a decline in sales volume of functional agent.

FY2020 Revenue and Operating profit by Segment

Unit : JPY million FY2019* FY2020 Change
Revenue 383,672 364,779 (18,892)
 Vegetable Oils and Fats 97,886 98,413 +527
 Industrial Chocolate 171,723 162,445 (9,278)
 Emulsified and Fermented
 Ingredients
79,339 69,567 (9,772)
 Soy-based Ingredients 34,722 34,353 (369)
Operating profit 21,459 17,911 (3,547)
 Vegetable Oils and Fats 10,124 7,872 (2,252)
 Industrial Chocolate 7,547 7,608 +61
 Emulsified and Fermented
 Ingredients
3,795 3,018 (777)
 Soy-based Ingredients 3,932 3,169 (763)
 Group administrative expenses (3,940) (3,756) +184

*Reference figures based on reclassification of FY2019 15-month results of overseas consolidated subsidiaries that changed their fiscal year-end to 12 months (April 2019-March 2020)

Main KPI

FY2019 FY2020 Change
ROE 10.5% 7.0% (3.5)
ROA 5.9% 4.8% (1.1)
ROIC 5.1% 4.0% (1.1)
Net D/E Ratio 0.75 0.63 (0.12)
CCC 112.6 days 106.6 days (6.0 days)

Forecasts for Consolidated Results for the Year Ending March 2022(April 1, 2021 to March 31, 2022)

(% 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 2022 400,000 9.7 18,000 0.5 16,800 (4.4) 11,500 4.4 133.79

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