Announcement of the Settlement of Accounts for the 2nd Quarter of the Year Ending March 2022
(Note) Figures shown have been rounded down to the nearest million yen
Our settlement of accounts for the 1st half of the year ending March 2022 was announced on the afternoon of Tuesday, November 9th at the Tokyo Stock Exchange Press Club. An outline of the accounts is presented below.
1. Consolidated Results for the 1st half of the Year Ending March 2022 (April 1, 2021 to September 30, 2021)
Consolidated operating results (total)
(% is in comparison to the previous year)
|Net Sales||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 half of the year ending March 2022||204,503||18.5||7,913||7.8||7,631||11.6||6,015||39.3|
|The 1st half of the year ending March 2021||172,589||(9.9)||7,338||(19.6)||6,835||(17.9)||4,318||(30.5)|
*Comprehensive income: The 1st half of the Year ending March 2022: 11,572 million yen -%
The 1st half of the Year ending March 2021: 805 million yen (69.1%)
FY2021 1st half Consolidated Financial Highlights
Net sales increased in all segments due to an increase in sales volume and higher selling prices resulting from higher raw materials prices. Operating profit increased due to the increase in sales, despite the absence of the gain on cocoa futures recorded in the previous fiscal year.
FY2021 1st half Segment Highlights
Vegetable Oils and Fats
Net sales increased in all areas due to higher selling prices resulting from higher raw materials prices and an increase in sales volume. Operating profit increased mainly due to higher sales volume in Southeast Asia, Americans and Europe, despite higher raw materials price.
Net sales increased in all areas due to higher sales volume. Operating profit decreased due to the absence of the gain on cocoa futures recorded in the previous fiscal year, despite the positive impact of higher sales.
Emulsified and Fermented Ingredients
Net sales increased due to higher sales volume in all areas, despite a decrease in sales due to the transfer of Toraku Foods Co.,Ltd. in the previous year. Operating profit increased due to stable sales in Japan, despite lower profit in Southeast Asia and China.
Net sales increased due to an increase in sales volume, mainly of soy protein ingredients. Operating profit decreased due to higher raw materials price and the recording of upfront costs for a new plant in Japan and a new base in Europe.
FY2021 1st half Net sales and Operating profit by Segment
|Unit : JPY million||FY2020 |
|Vegetable Oils and Fats||46,985||61,686||＋14,701|
|Emulsified and Fermented Ingredients||33,661||37,665||＋4,004|
|Vegetable Oils and Fats||3,427||4,263||+836|
|Emulsified and Fermented Ingredients||633||954||+321|
| Consolidated adjustment / |
Group administrative expenses
From FY2021, soymilk and USS soymilk products in the Soy-based Ingredients Business have been reclassified to the Emulsified and Fermented Ingredients Business, so the FY2020 1st half results have been retroactively adjusted.
|Net D/E Ratio||0.70||0.66||(0.04)|
|CCC||118 days||105 days||(13 days)|
2. Forecasts for Consolidated Results for the Year Ending March 2022 (April 1, 2021 to March 31, 2022)
(% is in comparison to the previous year)
|Net sales||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||430,000||17.9||18,000||0.5||16,800||(4.4)||11,500||4.4||133.79|
Consolidated Financial Guidance for FY2021
Due to rising sales prices reflecting increases in palm oil and other major raw materials, net sales are projected to exceed previously announced earnings forecasts by 30,000 million yen. As such, the company has decided to revise its full-year earnings forecast for net sales. Furthermore, in light of current pricing for major raw materials and other factors, no change is being made to previously announced earnings forecasts for each profit category.