Sanyo Special Steel : Overview of Business Results for the 1st Quarter of Fiscal Year Ending March 31, 2024
July 28, 2023 at 01:45 am EDT
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Overview of Business Results
for the 1st Quarter of Fiscal Year Ending March 31, 2024
(April 2023 → June 2023)
July 28, 2023
Santo-kun
https://www.sanyo-steel.co.jp/(Our mascot)
Table of Contents
1. FY2023/1Q Results
Outline of Statements of Income Business Environment
Net Sales and Income (Quarterly), Earnings by Business Segment, Balance Sheets Ordinary Income Variance Analysis (FY2022/1Q → FY2023/1Q, FY2022/4Q → FY2023/1Q)
Ordinary Income : 6.1 billion yen (Compared to FY2022/1Q : -3.2 billion yen)
Revenue and profit decreased due to decline in sales volume and shrinkage of positive impact of OVAKO's transient factors.
Although sales prices increased through applying energy surcharge, etc. revenue and profit decreased due to drop in sales volume, soaring raw material and fuel prices and inflation impact of other materials. Shrinkage of positive impact of OVAKO's transient factors affected as well.
(Unit: Billion yen)
FY2023/1Q (A)
FY2022/1Q (B)
Change (B) → (A)
Amount
Ratio (%)
Amount
Ratio (%)
Amount
Ratio (%)
Net Sales
99.9
100.0
104.1
100.0
-4.2
-4.0
Operating Income
5.5
5.5
8.8
8.4
-3.3
-37.4
Ordinary Income
6.1
ROS 6.1
9.3
ROS
8.9
-3.2
-34.6
(Sanyo)
2.0
4.2
3.4
7.1
-1.4
-40.0
(OVAKO)
5.2
11.8
7.3
14.7
-2.1
-28.5
(SSMI)
0.2
2.9
-0.1
－
+0.3
－
(Amortization of goodwill)
-0.8
－
-0.7
－
-0.1
－
Net Income
*1
4.3
4.3
6.9
6.6
-2.6
-37.4
Net Income
5.1
5.1
7.6
7.3
-2.5
-33.0
before amortization of goodwill
Sales Volume (Thousand tons)
392
(per month)
130.6
440
(per month)
146.5
-48
(per month)
-15.9
(Sanyo)
213
71.0
234
78.1
-21
-7.2
(OVAKO)
152
50.7
177
59.0
-25
-8.3
(SSMI)
27
8.9
28
9.3
-1
-0.4
*1 Profit attributable to owners of parent *2 The consolidated accounting period for SSMI is Jan. to Mar.
Although semiconductor shortage has resolved, recovery of auto production is gradual. Production for construction and industrial machineries has remained stagnant. Sluggish recovery of demand for specialty steel due to economic uncertainty in Europe and slow recovery of Chinese economy is becoming a concern.
Raw material and fuel prices trend remains still high and inflation on other materials has also emerged. Nevertheless, energy prices have peaked out.
１．Volume of order booked (Specialty steel products)
(Thousand tons）
Source: The Japan Iron and Steel Federation
6,000
Exports
Domestic
Year-on-year rate
200%
5,000
150%
4,000
100%
3,000
50%
2,000
0%
1,000
-50%
0
-100%
* FY2023/1Q: Sanyo calculated at 1.5 times the total of Apr. and May
Sanyo Special Steel Co. Ltd. published this content on 28 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 05:44:48 UTC.
Sanyo Special Steel Co., Ltd. is a Japan-based company mainly engaged in the steel, special material and forging businesses. The Company has three business segments. The Steel segment is engaged in the manufacture and sale of bearing steel, steel for machine architecture, stainless steel, heat-resistant steel and tool steel, among others. The Power segment is engaged in the manufacture and sale of metal powder products. The Forging segment is engaged in the manufacture and sale of forging products made from special bar steel and steel pipes. The Company is also involved in the provision of support services for business operation, such as information processing, security and facility management services.
SANYO SPECIAL STEEL CO., LTD. 
