March 30, 2022
Name of Company: Representative:
Abalance Corporation
Yasuaki Mitsuyuki, Representative Director and President
Stock Code: Contact:
3856, TSE Second Section
Telephone:
Kazuya Tao, General Manager, Administration Division +813-6864-4001
Announcement of Financial Results Briefing for the Second Quarter of the Fiscal Year Ending June 30, 2022 (Video with English support)
We have decided to disclose our financial results briefing for the second quarter of the fiscal year ending June 30, 2022 to the public via video streaming with English-language support, placing the highest priority on preventing the spread of COVID-19 and ensuring safety.
We strive to disclose information in a timely and fair manner, and hope you will take this opportunity to deepen your understanding of our group's business and initiatives.
Release Date | Tuesday, March 30, 2022 at 5 p.m. |
Release Method | Public access through video streaming with English-language support |
Presenter | Yasuaki Mitsuyuki, Representative Director and President |
Contents of Briefing | Abalance Group "Financial Results for the Second Quarter (Interim) of the Fiscal Year Ending June 30, 2022" and Future Outlook
|
URL:https://irtv.jp/channel/5848
If you have any questions regarding this briefing on financial results (video streaming), please click on the "Inquiries" button, and select "Regarding business performance, financial statements, and IR" from a pulldown menu on our website. Our staff will reply to your inquiries shortly.
Abalance Group
"Financial Results for the Second Quarter (Interim) of the Fiscal Year Ending June 30, 2022" and Future Outlook
March 2022
Abalance Corporation Securities Code: 3856
(Second Section of the Tokyo Stock Exchange)
Summary of Consolidated Financial Results (2Q of FY06/2022)
◼ Net sales: ¥26.65 billion, operating profit: ¥532 million, ordinary profit ¥340 million, profit attributable to owners of parent: ¥803 million Solar panel manufacturing and green energy businesses lead the consolidated performance
◼ Net sales: Increased significantly by ¥15.08 billion YoY (+130%)
◼ Profits: Decreased except profit attributable to owners of parent
VSUN: Panel manufacturing and sales to Europe and the United States increased significantly
In terms of profits, component and marine transport costs soared under the COVID-19 pandemic (however 2Q was in a recovery trend)
In the green energy business, both sales and profits increased, and M&A was actively implemented
¥1.02 billion collected as settlement relating to construction contract agreement of the previous fiscal year (recorded as extraordinary income in 1Q)
*Percentage in parentheses represents year-on-year changes.
Upward revision of full-year performance forecast (as of January 31, 2022)
Consolidated net sales: ¥38.5 billion (previous forecast: ¥35.0 billion), stage profit is unchanged considering conservatively the impact from the COVID-19 pandemic.
(Millions of yen)
*(4) Full-year budget presents values after upward revision.
Solar Panel Manufacturing Business(VSUN)
◼ NNeet ssaalelse: s¥2:2¥.72 2bi.ll7io2n (+b1i5ll9i%on), ,SeSgemgenmt peronfitt: ¥p2r2o3fmiti:llio¥n2((2509%m)) illion
➢ 2Q Sales grew significantly (1Q: ¥7.4 billion, 2Q: ¥15.3 billion) with strong orders
➢ Segment surplus was secured despite soaring costs of manufacturing components and marine transport
Soaring peaked out and profits are expected to recover from 3Q/FY2022
◼ 【訳出せず】
【
VSUN plant production and operational status has recovered to normal operation.
➢ Measures to adjust supply chain were successful leading to normal operation
➢ Also managed to minimize impact from Chinese New Year and Vietnam's Tet (New Year)
*Percentage in parentheses represents year-on-year changes.
Financing
[Funds procured] USD 5 million (December 2021)
[Use of funds] Procured short-term working capital from a domestic bank (Hong Kong Branch)
Committed to support financing from domestic banks as a Group for VSUN's growth.
(Millions of yen)
(1) 2Q/FY2021 Cumulative total | (2) 2Q/FY2022 Cumulative total | (3) Difference (= (2) − (1)) | Rate of change (= (3)/(1)) | (4) Full-year budget | Progress rate (= (2)/(4)) | |
Net sales | 8,760 | 22,723 | +13,963 | +159% | 28,500 | 80% |
Segment profit | 545 | 223 | (322) | (59%) | 1,000 | 22% |
* (4) Full-year budget presents values after upward revision of consolidated performance as of January 31, 2022.
* Segment profit presents values before company-wide expenses not allocated to each reportable segment are deducted.
* Since consolidation of VSUN started from 2Q/FY2021, values presented under "(1) 2Q/FY2021 Cumulative total" are for a period of three months (from September 2020 to December 2020).
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Abalance Corporation published this content on 30 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2022 08:14:04 UTC.