Toho Titanium : Notice of Difference between Previous Forecast and Actual Results for the Six Months Ended September 30, 2022, Revision of Financial Forecasts for Fiscal Year 2022 and Revision of Dividend Forecast
October 27, 2022 at 02:14 am EDT
Share
October 27, 2022
Company name: Toho Titanium Co., Ltd.
Representative: Ysuji Yamao, Representative Director and President
Code number: 5727 (First Section of the Tokyo Stock Exchange)
Contact person: Hiromu Tomeba, General Manager, Planning, Corporate Management Division
Telephone: +81-45-394-5521
Notice of Difference between Previous Forecast and Actual Results for the Six Months Ended
September 30, 2022, Revision of Financial Forecasts for Fiscal Year 2022 and Revision of
Dividend Forecast
Toho Titanium Co., Ltd. announced today difference between its forecasts announced on July 28, 2022 and the actual results for the six months ended September 30, 2022.
In light of recent business trends, we also announced Revision to the forecasts for the fiscal year ending March 31, 2023 and Revision of Dividend Forecast as indicated below.
1. Difference between previous forecasts and the actual results for the six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)
(Millions of yen)
Operating
Ordinary
Profit
Net Income
Net sales
attributable
per Share
income
income
to owners of
(Yen)
parent
Previous Forecasts (A)
41,600
4,800
5,000
3,400
47.77
Actual results (B)
38,890
5,823
6,406
4,536
63.74
Difference (B-A)
(2,710)
1,023
1,406
1,136
-
Difference (%)
(6.5)
21.3
28.1
33.4
-
Results for the six months
26,280
2,622
2,583
1,871
26.30
ended September 30, 2021
(Reasons for the difference)
Although net sales for the six months ended September 30, 2022 under review fell below the previously announced figure due to the sales delay of metallic titanium products and THC catalysts, operating income and lower step income exceeded the previously announced figure mainly due to the progress of yen depreciation in exchange rates.
2. Revision of the consolidated financial forecast for the fiscal year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
(Millions of yen)
Operating
Ordinary
Profit
Net Income
Net sales
attributable
per Share
income
income
to owners of
(Yen)
parent
Previous Forecasts (A)
81,000
8,200
8,000
5,400
75.87
Revised Forecasts (B)
80,600
9,700
10,000
7,000
98.35
Difference (B-A)
(400)
1,500
2,000
1,600
-
Difference (%)
(0.4)
18.2
25.0
29.6
-
Results for the fiscal year
55,515
5,228
5,177
3,695
51.93
ended March 31, 2022
(Reasons for the revision)
Operating income, ordinary income, and net income attributable to owners of the parent for FY2022 are expected to increase from the previously announced forecasts, mainly due to improved sales prices of titanium products and a change in the assumed exchange rate from 120 yen/US$ to 140 yen/US$ in consideration of recent exchange rate trends, although the sales volume of ultra-fine nickel powder, a major product in the Chemicals business, will decrease from the previous forecasts.
3. Revision of Dividend Forecast
Dividend per share (yen)
End of
Year-end
Annual
second quarter
Previous forecast
11.00
22.00
Revised forecast
17.00
28.00
Dividends that have been paid
11.00
in the fiscal year
Fore reference: dividends in the previous
6.00
9.00
15.00
fiscal year (ended March 31, 2022)
(Reasons for the revision)
The Company's policy regarding dividends is to determine dividends based on the return of profits to shareholders reflecting business performance, while giving due consideration to the Company's financial position, the need for internal reserves to strengthen the corporate foundation, and the maintenance of stable dividends.
Based on the above policy and the revised consolidated earnings forecast for the fiscal year ending March 31, 2023, we have revised our year-end dividend forecast from 11 yen to 17 yen per share. As a result, the annual dividend will be 28 yen per share.
Note: Business performance forecasts and other forward-looking statements contained in this document are based on the information that is presently available to the Company and on certain assumptions that the Company considers reasonable. The Company makes no representations that those forecasts and other forward-looking statements are achievable. Actual results may differ materially from the forecasts due to various factors.
End of Document
Attachments
Original Link
Original Document
Permalink
Disclaimer
Toho Titanium Co. Ltd. published this content on 27 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2022 06:13:05 UTC.
TOHO TITANIUM COMPANY, LIMITED is a Japan-based company mainly engaged in the metallic titanium business. The Company operates through two business segments. The Metallic Titanium segment is engaged in manufacture of sponge titanium, titanium ingot and high purity titanium. The Functional Chemicals segment is engaged in the manufacture of propylene polymerization catalysts, ultrafine nickel, high-purity titanium oxide, and other products.
Toho Titanium : Notice of Difference between Previous Forecast and Actual Results for the Six Months Ended September 30, 2022, Revision of Financial Forecasts for Fiscal Year 2022 and Revision of Dividend Forecast