UACJ CORPORATION UACJ Corporation
Q1 Financial Results Briefing for the Fiscal Year Ending March 2024
August 3, 2023
Event Summary
[Company Name] | UACJ Corporation | ||
[Company ID] | 5741-QCODE | ||
[Event Language] | JPN | ||
[Event Type] | Earnings Announcement | ||
[Event Name] | Q1 Financial Results Briefing for the Fiscal Year Ending March 2024 | ||
[Fiscal Period] | FY2024 Q1 | ||
[Date] | August 3, 2023 | ||
[Number of Pages] | 28 | ||
[Time] | 16:00 - 16:56 | ||
(Total: 56 minutes, Presentation: 23 minutes, Q&A: 33 minutes) | |||
[Venue] | Webcast | ||
[Venue Size] | |||
[Participants] | |||
[Number of Speakers] | 6 | ||
Miyuki Ishihara | Representative Director, President | ||
Teruo Kawashima | Director, Executive Vice President | ||
Shinji Tanaka | Chief Executive, Corporate Sustainability | ||
Division; Vice Chief Executive, Flat Rolled | |||
Products Division (Manufacturing Division) | |||
Director, Managing Executive Officer | |||
Joji Kumamoto | Chief Executive, Corporate Strategy Division, | ||
Director, Executive Officer | |||
Haruhiro Iida | Chief Executive, Finance and Accounting | ||
Division Executive Officer | |||
Kaoru Ueda | General Manager, IR, Finance Department | ||
[Analyst Names]* | Atsushi Yamaguchi | SMBC Nikko Securities | |
Harunobu Goroh | UBS Securities | ||
Yu Shirakawa | Morgan Stanley MUFG Securities | ||
Support | |||
Japan | 050.5212.7790 | North America | 1.800.674.8375 |
Tollfree | 0120.966.744 | Email Support | support@scriptsasia.com |
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Yuji Matsumoto | Nomura Securities |
Shinichiro Ozaki | Daiwa Securities |
*Analysts that SCRIPTS Asia was able to identify from the audio who spoke during Q&A or whose questions were read by moderator/company representatives.
Support | |||
Japan | 050.5212.7790 | North America | 1.800.674.8375 |
Tollfree | 0120.966.744 | Email Support | support@scriptsasia.com |
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Presentation
Ueda: Thank you very much for taking time out of your busy schedule today to participate in the UACJ Corporation financial results briefing for Q1 of the fiscal year ending March 2024.
I would like to introduce the Company's attendees for today's meeting. Miyuki Ishihara, Representative Director, President.
Ishihara: My name is Ishihara. Thank you.
Ueda: Teruo Kawashima, Director, Executive Vice President.
Kawashima: My name is Kawashima. Thank you.
Ueda: Shinji Tanaka, Director, Managing Executive Officer.
Tanaka: My name is Tanaka. Thank you.
Ueda: Joji Kumamoto, Chief Executive, Corporate Strategy Division, Director, Executive Officer.
Kumamoto: My name is Kumamoto. Thank you.
Ueda: Haruhiro Iida, Chief Executive, Finance and Accounting Division Executive Officer.
Iida: I am Iida. Thank you.
Ueda: I am Kaoru Ueda, General Manager, IR, Finance Department, and I will be your moderator today. Thank you very much for your cooperation.
Mr. Iida, Finance and Accounting Division Executive Officer, will now explain the Q1 results for FY2023, which we announced today. Please refer to the presentation material. I will now hand over to Division Executive Officer Iida.
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Tollfree | 0120.966.744 | Email Support | support@scriptsasia.com |
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Iida: I will explain according to the financial results presentation material.
Page one shows key points of today's announcement. In Q1 of FY2023, operating profit before metal price lag increased by JPY2.1 billion from the same period last year due to improved profitability in domestic operations and TAA and UWH.
I would like to summarize Q1. In Japan, we secured profits, partly due to the introduction of a market price- linked scheme for energy. Although demand remained stagnant following H2 of last fiscal year, sales volume of automotive body panel materials increased in accordance with the recovery of automobile production.Overseas, earnings at UWH, an automotive-related company, have turned around. TAA secured an increase in profit despite the inventory adjustment phase of can stock.
The full-year forecast remains unchanged from the initial forecast announced in May. We expect the automotive-related sector to continue to recover steadily. We expect the adjustment phase in demand for can stock to last longer than we expected at the beginning of the fiscal year, but we believe that we will be able to maintain profitability.
With regard to the risk of price hikes in energy and additive metals, we expect the market price-linked scheme for energy to be effective throughout the year.
Support | |||
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Tollfree | 0120.966.744 | Email Support | support@scriptsasia.com |
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UACJ Corp. published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 01:47:30 UTC.
