Financial Results for the Financial Results for the 3 rd Quarter FY 2008 3 rd Quarter FY 2008 February 6, 200 , 2009 9 February 6
1 Contents Contents ・ FY08 3 rd Quarter Consolidated Results ・ FY08 Consolidated Forecasts ※ This “3 rd Quarter (3Q)” data states information for 9 month totals (April 1, 2008 – December 31, 2008)
2 FY08 3 rd Quarter Consolidated Results FY08 3 rd Quarter Consolidated Results
3 Scope of Consolidation Scope of Consolidation － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － End of Mar. 2008 End of Dec. 2008 Change Notes Item (A) (B) (B) - (A) Number of Newly Included: None 67 66 -1 consolidated Newly Excluded: 1 (Sell off: 1) subsidiaries Number of Newly Included: None 28 28 0 equity method Newly Excluded: None affiliates Total 95 94 -1
4 Major P/L & B/S Items Major P/L & B/S Items － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） FY07 3Q FY08 3Q Change Item (A) (B) (B) - (A) 514.3 546.7 32.2 Sales 38.6 37.3 -1.2 Operating income 33.3 30.5 -2.8 Ordinary income 16.8 19.6 2.8 Net income End of Mar. 2008 End of Dec. 2008 Change Item (A) (B) (B) - (A) 720.8 730.7 9.8 Total assets 300.7 311.0 10.3 Debt 275.6 280.5 4.8 Net debt ＊1 193.8 189.8 -4.0 Equity capital ＊ 1 ： Equity capital = Net assets － Share subscription rights － Minority interests
5 Non Operating Items Non Operating Items － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） FY07 3Q FY08 3Q Change Item (A) (B) (B) - (A) 38.6 37.3 -1.2 Operating income -4.4 -3.6 0.8 Net interest expense Non Operating Equity in earnings of unconsolidated Items 0.9 0.7 -0.2 subsidiaries and affliated companies Gain(loss) on foreign currency 0.6 -1.2 -1.8 exchange -2.4 -2.6 -0.1 Others -5.2 -6.8 -1.5 Total 33.3 30.5 -2.8 Ordinary income
6 Extraordinary Items Extraordinary Items － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） FY07 3Q FY08 3Q Change Item (A) (B) (B) - (A) 0.0 0.3 0.3 Gain on share change balance 0.4 0.0 -0.4 Gain on sale of PP&E 0.5 0.0 -0.5 Other 0.9 0.3 -0.6 Extraordinary income -0.1 -2.7 -2.6 Loss on related business ＊ -3.0 -1.6 1.4 Loss on impairment ＊ -1.7 -1.4 0.2 Others -4.9 -5.8 -0.9 Extraordinary loss -3.9 -5.4 -1.5 Net extraordinary income/loss ＊ The loss f The loss from om the the dissol dissolution of tion of North North American wheel manufacturing operation American wheel manufacturing operations – 4. 4.3
7 Operating Income – Net Income Operating Income – Net Income － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） FY07 3Q FY08 3Q Change Item (A) (B) (B) - (A) 38.6 37.3 -1.2 Operating income -5.2 -6.8 -1.5 Non operating item 33.3 30.5 -2.8 Ordinary income -3.9 -5.4 -1.5 Extraodinary item Income before income tax and 29.4 25.0 -4.3 minority interest -12.5 -5.3 7.2 Income tax and minority interest ＊ 16.8 19.6 2.8 Net income 16.72yen 19.58yen 2.86yen Net income per share(Yen/Share) ＊ Incl Including tax ing tax ef effect fect r relati lating t ng to t the loss e loss from from the disso the dissolution of tion of North North American wheel American wheel manufacturi manufacturing ng operation erations ＋ 6. 6.8
8 Environmental Factors Environmental Factors － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） Impacts on FY07 3Q FY08 3Q Change Item Consolidated (A) (B) (B) - (A) OP Income 117.3 102.8 -14.5 2.0 Exchange Rate Yen/$ 709 937 228 -4.2 $/t (CIF) Naphtha Material Price 59,800 69,600 9,800 (-2.1) Yen/KL (Domestic) 1,088 1,143 55 -2.5 Benzene(Average $/t of US and Euro (2.0) Contract Price) Australian 108.5 160.0 51.5 -11.2 $/t Coal (CIF) 12,725 16,448 3,723 (-7.0) Yen/t （ ） :including impacts on fluctuation of exchange rate
9 Sales by Segment Sales by Segment － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） FY07 3Q FY08 3Q Change Segment Major Factors (A) (B) (B) - (A) Caprolactam chain 6.0 170.4 181.1 10.6 Chemicals & Plastics Synthetic rubber 4.7 Overseas sales subsidiaries 3.0 Specialty Chemicals & 69.0 71.8 2.8 Fine chemicals and Pharmaceuticals 1.2 Products Specialty products -1.3 Construction materials and Quicklime related Cement & Construction 155.1 162.2 7.0 products 4.9 Materials Cement and Ready-mixed concrete 1.5 Machinery & Metal Aluminum wheels -3.8 85.4 84.2 -1.1 Products Machinery 2.6 31.2 44.4 13.1 Energy & Environment Coal 12.5 2.9 2.8 -0.1 Others 514.3 546.7 32.3 Increased by 6.3 ％ Total
10 Operating Income by Segment Operating Income by Segment － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） FY07 3Q FY08 3Q Change Segment Major Factors (A) (B) (B) - (A) Caprolactam chain -1.5 11.8 11.7 -0.1 Chemicals & Plastics Synthetic rubber 1.5 Specialty Chemicals & Specialty products -2.2 9.5 7.6 -1.8 Products Fine chemicals and Pharmaceuticals 0.2 Cement and Ready-mixed concrete -0.5 Cement & Construction 8.3 8.0 -0.2 Construction materials and Quicklime related Materials products 0.3 Machinery & Metal Machinery -1.0 4.7 2.9 -1.8 Products Aluminum wheels -0.8 3.5 6.4 2.9 Energy & Environment Coal 2.5 0.6 0.6 0.0 Others 38.6 37.3 -1.2 Decreased by 3.3 ％ Total
11 Analysis of Operating Income Analysis of Operating Income － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） Operating Income Change in Sales Fixed Segment Change FY07 3Q FY08 3Q Price Others Regulation Cost Volume (A) (B) (B) - (A) including LCM *1 Method ＊2 11.8 11.7 -0.1 2.9 -1.1 0.3 -3.4 1.2 Chemicals & Plastics Specialty Chemicals & 9.5 7.6 -1.8 -1.9 1.4 -1.8 -0.3 0.7 Products Cement & Construction 8.3 8.0 -0.2 2.2 -1.8 0.3 -0.7 -0.3 Materials Machinery & Metal 4.7 2.9 -1.8 -0.5 -0.6 -0.5 -0.1 -0.1 Products 3.5 6.4 2.9 3.2 0.2 -0.4 0.1 -0.1 Energy & Environment 0.6 0.6 0.0 0.0 0.0 0.1 0.0 -0.1 Others 38.6 37.3 -1.2 5.9 -1.9 -2.0 -4.4 1.3 Total ＊ 1 ： Including both selling and purchase change ＊ 2 ： Inventory valuation changes 2.9
12 Consolidated Balance Sheet Consolidated Balance Sheet － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） End of Mar. 2008 End of Dec. 2008 Change Item (A) (B) (B) - (A) 297.8 331.5 33.6 Current assets 422.9 399.1 -23.8 Fixed assets 720.8 730.7 9.8 Total assets 300.7 311.0 10.3 Interest-bearing debts 201.1 206.0 4.9 Other liabilities 501.8 517.1 15.2 Total liabilities 193.8 189.8 -4.0 Equity capital *1 25.1 23.7 -1.4 Minority interests 219.0 213.5 -5.4 Total net assets 720.8 730.7 9.8 Total liabilities and net assets ＊ 1 ： Equity capital = Net assets － Share subscription rights － Minority interests
13 Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － （ Billion Yen ） Item FY08 3Q Income before tax and minority interests 25.0 23.6 A.Cash flows from operating activites Depreciation and amortization 26.2 Working capital -24.8 -23.5 B.Cash flows from investing activities Acquisition of PP&E -23.5 0.1 Free cash flows （Ａ＋Ｂ） Increase in interest-bearing debts 32.6 6.8 C.Cash flows from financing activities Bond redemption -20.1 Dividends -5.5 D.Net increase/decrease in cash and cash 5.4 equivalents E.Cash and cash equivalents at end of 30.5 December 2008
14 Business Highlight Business Highlight － Financial Results for the 3 rd Quarter FY08 － － Financial Results for the 3 rd Quarter FY08 － Chemicals and Plastics ◆ A memorandum was concluded that collaborative commercialization of the wide-ranging chemical business in Thailand is examined with PTT Public Company Limited, which develops natural gas, petroleum refining and petro-chemistry in Thailand. (December 2008) ◆ The production facility of butadiene rubber (BR) in Nantong (China) was completed which is owned by the joint venture company, TSRC Ube (Nantong) Chemical Industry Co., Ltd. (December 2008) Specialty Chemicals and Products ◆ An agreement was concluded that the entire stock of UBE Medical Co., Ltd., a company selling, manufacturing and importing medical equipment, to Japan Lifeline Co., Ltd. (December 2008) ◆ The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMEA) has issued a positive opinion recommending approval of Prasugrel, an antiplatelet agent. (December 2008) ◆ An agreement was concluded that new material technology for aircraft is developed in collaboration with Boeing. (January 2009)
15 FY08 Consolidated Forecasts FY08 Consolidated Forecasts
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