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I would like to explain financial results for 1Q FY2024 actual and FY2024 outlook.
Financial Results for 1Q FY2024 Actual
In the Chemicals Segment, sales of Basic Chemicals decreased. In the Performance Materials Segment, sales of Display Materials decreased, but sales of Semiconductor Materials increased. In the Agricultural Chemicals Segment, sales increased. In the Healthcare Segment, sales decreased.
As a result, sales were above in the same period of the previous fiscal year, but each income was below the same period of the previous fiscal year. Both sales and each income exceeded the outlooks announced in May.
Consolidated Financial Results for 1Q FY2024 (April 1, 2024, to June 30, 2024)
(Million yen, amount rounded down to the nearest million yen)
| 1Q FY2023 | 1Q FY2024 | Year-on-year Change |
1Q FY2024 Outlook |
Change from Outlook |
|
|---|---|---|---|---|---|
| Sales | 54,939 | 58,688 | +3,748 | 56,200 | +2,488 |
| Operating income | 14,998 | 14,426 | (571) | 11,900 | +2,526 |
| Ordinary income | 17,046 | 16,029 | (1,017) | 12,200 | +3,829 |
| Net income attributable to owners of parent |
12,236 | 11,590 | (645) | 9,300 | +2,290 |
Financial Results for FY2024 Outlook
We estimate that sales will be 234.1 billion yen, operating income will be 50.0 billion yen, ordinary income will be 50.5 billion yen and net income attributable to owners of parent will be 38.4 billion yen.
Outlook of Consolidated Financial Results for the FY2024 (April 1, 2024, to March 31, 2025)
(Billion yen, amounts rounded to the nearest billion yen)
| FY2023 Actual (A) |
FY2024 Outlook (B) |
Increase or decrease (B-A) |
Rate of change (%) |
|
|---|---|---|---|---|
| Sales | 226.7 | 234.1 | +7.4 | +3.3% |
| Operating income | 48.2 | 50.0 | +1.8 | +3.7% |
| Ordinary income | 51.6 | 50.5 | (1.1) | (2.2)% |
| Net income attributable to owners of parent | 38.0 | 38.4 | +0.4 | +1.0% |
| EPS | 272.82 yen |
279.08 yen |
+6.26 yen |
+2.3% |
Long & Medium-Term Business Plan
We launched two plans, "Atelier2050" and "Vista2027" in April 2022. "Atelier2050" is a long-term business plan with a broader perspective up to FY2050, and "Vista2027" is a medium-term business plan that indicates the ideal state of the Group in FY2027 as a stepping-stone to attain the long-term plan.
"Atelier2050" aims to become a corporate group that continues to grow for the next 100 years by responding to various social demands, such as achieving carbon neutrality and solving food issues. Furthermore, we foster a corporate culture of continuous challenge by integrating internal and external knowledge as a driving force for corporate development. Based on the above, we drew up the ideal state in FY2050 as follows.
A "Future-Creating Company” that grows through seeking to enrich people and nature.
A group of co-creators that faces challenges for change with a strong passion.
We defined three business areas, Information & Communication, Life Sciences, and Environment & Energy as growth business, and Materials & Services as core business. By acquiring new core technologies and integrating and deepening them with existing core technologies, we will create new products and businesses and establish a path for growth. We will establish the basic stance of our group employees to realize the ideal state of our company and take on the challenge of creating the future.
"Vista2027" has Stage I for the first three years and Stage II for the second three years. The targets for the final years of Stage II are set at sales of 285.0 billion yen and operating profit of 67.0 billion yen in FY2027. We established the following four basic strategies to realize our corporate vision for FY2050.
- Deepen business areas and improve marketing capabilities
We strive to enhance our R&D capability and improve our planning ability to realize the ideal state in FY2050. - Promote sustainable management
We foster our efforts and propel measures for sustainability and facilitate offering sustainability-related information internally and externally. - Strengthen value creation and co-creation processes
We propel building our business foundations and environment that help mutual communication and improvement in efficiency and facilitate the creation of new value and joint creation. - Expand market share and profit in current businesses
We improve profitability by expanding existing products as a source of growth and solidly developing new products.
For Key Performance Indicators, non-financial indicators are listed in addition to the existing key financial indicators. These non-financial indicators include the expansion of the Nissan Chemical Sustainable Agenda, which clarifies the products and services that contribute to solving social issues, and the GHG emissions reduction target for FY2027, which was previously the target for FY2030. By strongly promoting sustainable management, we improve the overall strength of all our business activities, including business, research, manufacturing, and the solid business foundation.
Based on our corporate philosophy of “Contribute to the protection of the global environment and the existence/development of humanity, offering the value sought by society.” we strongly promote management soundness and transparency, thorough compliance, consideration for the environment, and social contribution activities. We are committed to becoming a corporate group trusted by all stakeholders.
We appreciate your understanding and cooperation.
August 2024
YAGI Shinsuke
Representative Director, President
