Consolidated Financial Results for the Three Months Ended June 30, 2022
Name of listed company: Nissan Chemical Corporation
URL: https://www.nissanchem.co.jp/
Inquiry to: ARITA Nobuhiro, Managing Associate Executive Officer and Head of Finance and Accounting Department
Scheduled submission date of quarterly report: August 12, 2022
Financial results meeting : Yes (For institutional investors and analysts)
(Amounts rounded down to the nearest million yen)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (From April 1, 2022 to June 30, 2022)
(% indicates the rate of increase/decrease against the same period of the previous year)
(Note) Revision of the latest released dividend outlook: Yes
3. Outlook of Consolidated Financial Results for the Fiscal Year Ending March 31, 2023 (From April 1, 2022 to March 31, 2023)
(% indicates the rate of increase/decrease against the same period of the previous year)
(Note) Revision of the latest released outlook of financial results: Yes
Please refer to " Revision of Financial Results Outlook, Interim Dividend Outlook and Year-ended Dividend Outlook" for details.
(1) Changes in significant consolidated subsidiaries
(Changes in specified subsidiaries involving changes in scope of consolidation)
Newly Included: 1 company (Company name: Nissan Bharat Rasayan Private Limited)
(2) Application of special accounting treatment to preparation of quarterly financial statements
(3) Changes of accounting policies and accounting estimates, and restatement
Changes of accounting policies due to revisions of accounting standards
Changes of accounting policies other than the above
(Note) Please refer to [2. Consolidated Financial Statements (4) Notes to Consolidated Financial Statements "(Changes in Accounting Policies)"] on page 10 for further details.
(4) Number of shares outstanding (common shares)
1. Number of shares outstanding (including treasury shares) As of June 30, 2022 : 142,000,000 shares
Average number of shares outstanding
(Note) July 30,2019. The shares held by the Trust are included in the number of treasury shares at the end of the period, and they
(Note) are included in the number of treasury shares deducted in calculating the average number of shares outstanding over the
(Note) period. The number of shares held by the Trust (included in treasury shares) at the end of the period was 159,300 shares.
(Note) In addition, the average number of shares held by the Trust during the period was 160,083 shares.
(Note) This is not included in the average number of shares outstanding.
Table of Contents for Attached Materials
1. Qualitative Information on Quarterly Results ........................................................................................................
Outlook of Consolidated Financial Results and Other Forward-looking Information ....................................................
Basic Policy on Distribution of Earnings .........................................................................................................
Consolidated Statements of Income / Consolidated Statements of Comprehensive Income .........................................
Consolidated Statements of Cash Flows ........................................................................................................
Notes to Consolidated Financial Statements ..................................................................................................
(Notes on Assumption of Going Concern) .................................................................................................
(Notes on Significant Changes in Shareholders' Equity) ................................................................................
1 Qualitative Information on Quarterly Results
During the first quarter of the current fiscal year (April 1, 2022 to June 30, 2022), although consumer spending showed a recovery trend due to the relaxation of behavioral restrictions, the domestic economy did not achieve a full-fledged recovery due to soaring raw material prices, disruptions in the supply chain, and other factors. Under these circumstances, in the Chemicals Segment, sales of both Basic Chemicals and Fine Chemicals increased, despite the impact of problems with nitric acid plant. In the Performance Materials Segment, Semiconductor Materials performed well. In the Agricultural Chemicals Segment, sales increased. In the Healthcare segment, both healthcare business and
As a result, sales and each income exceeded the same period of the previous fiscal year and the outlooks announced in May. We also achieved record highs for operating income, ordinary income, and net income attributable to owners of the parent for the second consecutive year.
yen, amount roun ded down to the ne arest million yen)
(Note) The outlook is described on page 10 of the FY2021 Presentation Materials (announced on May 13, 2022).
Explanations by segments are as below.
We changed our reporting segments from the first quarter of the current fiscal year. For supplemental information, please refer to
In Basic chemicals, sales of melamine (adhesives agent for particle board), urea, AdBlue®* (high-grade urea solution) were strong. In Fine Chemicals, sales of "TEPIC" (powder coating agent for paint, sealants, etc.) and environmental chemicals (sterilizing and disinfecting agents for pools and septic tanks, etc.) also increase.
As a result, sales of this segment were 10,415 million yen (an increase of 1,582 million) and operating income was 1,716 million yen (an increase of 452 million yen). Compared to the outlook (Note), sales were above 0.2 billion yen and operating income was above 0.1 billion yen.
(Note) The outlook is described on page 24 of the FY2021 Presentation Materials (announced on May 13, 2022). * AdBlue® is a registered trademark of the Verband der Automobilindustrie (VDA).
In Display Materials, sales of "SUNEVER" (LCD alignment coating) for smartphones declined. In Semiconductor Materials, sales of anti- reflective coating for semiconductors (ARC®*) and multilayer materials (OptiStack®*) increased due to favorable customer operations. In Inorganic materials, sales of "SNOWTEX" for polishing electronic materials and hard coating, Organo / Monomer sol (various kinds of coating materials, resin additive) and Oilfield materials (for enhancing oil recovery) were steady.
As a result, sales of this segment were 21,774 million yen (an increase of 1,822 million) and operating income was 7,888 million yen (an increase of 959 million yen). Compared to the outlook (Note), sales were above 0.6 billion yen and operating income was above 0.8 billion yen.
(Note) The outlook is described on page 24 of the FY2021 Presentation Materials (announced on May 13, 2022). * ARC®, OptiStack® are registered trademarks of Brewer Science, Inc.
Sales of Fluralaner (active ingredients for veterinary pharmaceuticals) increased due to the completion of customer inventory adjustments
in the previous fiscal year. In Japanese - rice herbicide), and "GRACIA" (insecticide) were firm. In the overseas market, sales increased significantly due to strong sales of "TARGA" (herbicide), "LEIMAY" (fungicide) and "GRACIA", as well as the shift in the timing of some shipments.
As a result, sales of this segment were 19,728 million yen (an increase of 6,324 million yen) and operating income was 6,825 million yen (an increase of 2,777 million yen). Compared to the outlook (Note), sales were above 2.5 billion yen and operating income was above 1.1 billion yen.
(Note) The outlook is described on page 24 of the FY2021 Presentation Materials (announced on May 13, 2022).
Shipments of "LIVALO" (anti-cholesterol drug) to overseas were firm. In "Custom Chemicals", sales increased due to the concentration of shipments.
As a result, sales of this segment were 1,654 million yen (an increase of 584 million) and operating income was 757 million yen (an increase of 457 million yen). Compared to the outlook (Note), sales were above 0.1 billion yen and operating income was above 0.2 billion yen.
(Note) The outlook is described on page 24 of the FY2021 Presentation Materials (announced on May 13, 2022).
Sales of this segment were 23,656 million yen (an increase of 5,857 million yen) and operating income was 1,033 million yen (an increase of 369 million yen). Compared to the outlook (Note), sales were above 4.0 billion yen and operating income was above 0.4 billion yen.
(Note) The outlook is described on page 82 and 83 of the FY2021 Presentation Materials (announced on May 13, 2022).
Sales of this segment were 6,537 million yen (an increase of 1,626 million yen) and operating income was 133 million yen (an increase of 65 million yen).
(Position of Assets, Liabilities and Net Assets)
Total assets as of June 30, 2022 was 277,231 million yen (a decrease of 2,456 million yen from March 31, 2022). It is mainly due to the decrease of cash and deposits.
Also, total liabilities as of June 30, 2022 was 67,519 million yen (a decrease of 4,158 million yen). It is mainly due to the decrease of short- term loans payable.
Net assets as of June 30, 2022 was 209,712 million yen (an increase of 1,702 million yen). As a result of these factors, equity ratio was 74.5% (an increase of 0.9% from March 31, 2022).
Deducting income taxes paid from income before income taxes and non-controlling interests, depreciation and gain and loss on working capital, net cash provided by operating activities for the three months ended June 30, 2022 was 13,107 million yen (11,849 million yen for the same period of the previous year).
Due to the investment on plant and equipment, net cash used in investing activities for the three months ended June 30, 2022 was 4,345 million yen (3,291 million yen).
Due to the decrease in loans payable, payment for dividends and share repurchase, net cash used in financing activities for the three months ended June 30, 2022 was 18,023 million yen (23,821 million yen).
Cash and cash equivalents at the end of this period decreased 8,407 million yen from March 31, 2022 after adjusting for the 852 million yen effect of exchange rate. Moreover, after adding the 3,116 million yen increase in cash and cash equivalents resulting from change in scope of consolidation, the balance stood at 29,366 million yen (17,121 million yen).
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Nissan Chemical Corporation published this content on 08 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2022 06:13:04 UTC.