1 Financial Results for the First Half FY 2012 November 2, 2012
2 Contents ・ FY12 First Half Consolidated Results ・ FY12 Consolidated Forecasts ・ Appendix ※ This “2nd Quarter (2Q)” data states information for 6 month totals.
3 FY12 First Half Consolidated Results
4 Scope of Consolidation － Financial Results for the First Half FY12 － End of FY11 End of FY12 2Q Change Notes Item （ B) - （ A) (A) (B) Number of Newly Included: None 67 67 0 consolidated Newly Excluded: None subsidiaries Number of Newly Included: None 25 25 0 equity method Newly Excluded: None affiliates 92 92 0 Total
5 Environmental Factors － Financial Results for the First Half FY12 － （ Billion Yen ） Impacts on FY11 2Q FY11 2Q Change Item Consolidated OP Income (A) (B) (B) - (A) 79.8 79.4 -0.4 0.0 Yen/$ Exchange Rate $/ ｔ 986 958 -28 (CIF) 0.2 Naphtha (0.3) Yen/KL 57,000 55,200 -1,800 (Domestic) Material Price $/ ｔ Benzene -0.3 1,223 1,245 22 (Average of US and Euro Contract Price) (0.1) $/ ｔ Australian 143.0 130.1 -12.9 1.1 Coal (CIF) 11,407 10,327 (1.2) Yen/t -1,080 ( ): including impacts from fluctuation of exchange rate
6 Major P/L & B/S Items － Financial Results for the First Half FY12 － （ Billion Yen ） FY11 2Q FY12 2Q Change Item (A) (B) (B) - (A) 311.6 310.7 -0.8 Sales 22.6 16.1 -6.4 Operating income 20.7 14.6 -6.0 Ordinary income 12.1 8.4 -3.7 Net income End of FY11 End of FY12 2Q Change Item (A) (B) (B) - (A) 664.9 669.9 4.9 Total assets 253.9 249.6 -4.3 Debt 220.8 217.2 -3.6 Net debt 199.4 205.0 5.5 Equity capital *1 *1: Equity capital = Net assets - Share subscription rights - Minority interests
7 Non Operating Items － Financial Results for the First Half FY12 － （ Billion Yen ） FY11 2Q FY12 2Q Change Item (A) (B) (B) - (A) 22.6 16.1 -6.4 Operating income -1.4 -1.2 0.1 Non operating income Net interest expense Equity in earnings of 1.0 0.5 -0.5 unconsolidated subsidiaries and affiliated companies -1.5 -0.7 0.7 Others -1.9 -1.5 0.4 Total 20.7 14.6 -6.0 Ordinary income
8 Extraordinary Items － Financial Results for the First Half FY12 － （ Billion Yen ） FY11 2Q FY12 2Q Change Item (A) (B) (B) - (A) ‐ 0.2 0.2 Gain on transfer of business 0.1 0.3 0.2 Others 0.1 0.6 0.5 Extraordinary income -0.2 -0.7 -0.4 Loss on disposal of PP&E -1.0 0.0 1.0 Loss on valuation of investment securities -0.1 -0.3 -0.1 Others -1.4 -1.1 0.3 Extraordinary loss -1.3 -0.5 0.8 Net extraordinary income/loss
9 Operating Income – Net Income － Financial Results for the First Half FY12 － （ Billion Yen ） FY11 2Q FY12 2Q Change Item (A) (B) (B) - (A) 22.6 16.1 -6.4 Operating income -1.9 -1.5 0.4 Non operating item 20.7 14.6 -6.0 Ordinary income -1.3 -0.5 0.8 Extraordinary item Income before income tax and 19.3 14.1 -5.1 minority interest -7.1 -5.7 1.4 Income tax and minority interest 12.1 8.4 -3.7 Net income 12.11yen 8.42yen -3.69yen Net income per share(Yen/Share)
10 Sales by Segment － Financial Results for the First Half FY12 － （ Billion Yen ） FY11 2Q FY12 2Q Change Segment Major Factors (A) (B) (B) - (A) Caprolactam chain -4.1 115.2 109.3 -5.8 Chemicals & Plastics Synthetic rubber -1.7 Specialty Chemicals & 33.5 32.1 -1.4 Specialty products -1.4 Products 3.8 5.6 1.8 Pharmaceutical Cement & Construction Cement and Ready-mixed concrete 2.0 100.8 101.5 0.7 Materials Construction materials and Quicklime related products -1.0, etc. Machinery & Metal 33.5 34.3 0.7 Products 30.8 35.4 4.6 Energy & Environment Coal 4.1, Power 0.5 12.5 12.3 -0.1 Others -18.6 -20.1 -1.4 Adjustment 311.6 310.7 -0.8 Total Decreased by 0.3%
11 Operating Income by Segment － Financial Results for the First Half FY12 － （ Billion Yen ） FY11 2Q FY12 2Q Change Segment Major Factors (A) (B) (B) - (A) Caprolactam chain -8.8 13.7 3.8 -9.8 Chemicals & Plastics Synthetic rubber -1.0 Specialty Chemicals & Specialty products -1.3 3.7 1.8 -1.8 Products Fine chemicals -0.5 0.7 1.9 1.2 Pharmaceutical Cement & Construction 2.9 4.5 1.6 Cement and Ready-mixed concrete 1.7, etc. Materials Machinery & Metal 0.6 1.6 1.0 Products 1.5 2.6 1.1 Energy & Environment Coal 0.2, Power 0.9 0.4 0.4 0.0 Others -1.0 -0.8 0.1 Adjustment 22.6 16.1 -6.4 Total Decreased by 28.5%
12 Analysis of Operating Income － Financial Results for the First Half FY12 － （ Billion Yen ） Operating Income Segment FY11 2Q FY12 2Q Change Sales Fixed Price Others Volume Cost (A) (B) (B) - (A) *1 *2 Chemicals & Plastics 13.7 3.8 -9.8 -7.0 0.3 -0.9 -2.2 Specialty Chemicals & 3.7 1.8 -1.8 -1.6 1.1 -0.4 -1.0 Products Pharmaceutical 0.7 1.9 1.2 -0.4 1.7 -0.2 0.2 Cement & Construction 2.9 4.5 1.6 1.0 -0.9 1.2 0.4 Materials *3 Machinery & Metal 0.6 1.6 1.0 0.1 -0.1 -0.2 1.3 Products Energy & Environment 1.5 2.6 1.1 0.7 0.2 0.1 0.2 0.4 0.4 0.0 -0.1 0.1 0.0 0.0 Others Adjustment -1.0 -0.8 0.1 0.0 0.0 0.1 0.0 22.6 16.1 -6.4 -7.4 2.4 -0.4 -1.1 Total *1: Including both selling and purchase change *2: Including inventory valuation changes -1.7 *3: Including marginal profit on machinery products 1.4
13 Sales Progress by Segment － Financial Results for the First Half FY12 － （ Billion Yen ） FY11 FY12 Full Year Change Segment Progress Progress Forecast (B) - (A) Full Year 2Q 2Q (A) (B) Published on 10/15/2012 231.0 115.2 49.9% 224.0 109.3 48.8% -1.1% Chemicals & Plastics Specialty Chemicals & 64.3 33.5 52.1% 71.0 32.1 45.2% -6.9% Products Pharmaceutical 11.1 3.8 34.2% 12.5 5.6 45.5% 11.3% Cement & Construction 209.1 100.8 48.2% 207.5 101.5 48.9% 0.7% Materials Machinery & Metal 72.5 33.5 46.3% 72.5 34.3 47.4% 1.1% Products 62.5 30.8 49.3% 65.0 35.4 54.5% 5.2% Energy & Environment 25.9 12.5 48.4% 23.5 12.3 52.7% 4.3% Others Adjustment -38.0 -18.6 --- -38.0 -20.1 --- --- 638.6 311.6 48.8% 638.0 310.7 48.7% -0.1% Total
14 Operating Income Progress by Segment － Financial Results for the First Half FY12 － （ Billion Yen ） FY11 FY12 Full Year Change Segment Progress Progress Forecast (B) - (A) Full Year 2Q 2Q (A) (B) Published on 10/15/2012 22.9 13.7 59.9% 7.9 3.8 49.2% -10.7% Chemicals & Plastics Specialty Chemicals & 5.4 3.7 68.3% 5.7 1.8 32.7% -35.6% Products Pharmaceutical 3.7 0.7 18.8% 4.0 1.9 48.7% 29.9% Cement & Construction 8.6 2.9 33.5% 11.4 4.5 40.2% 6.7% Materials Machinery & Metal 3.0 0.6 20.4% 3.5 1.6 46.6% 26.2% Products 3.3 1.5 45.2% 4.8 2.6 56.2% 11.0% Energy & Environment Others 1.0 0.4 38.7% 1.0 0.4 44.2% 5.5% Adjustment -2.3 -1.0 --- -2.3 -0.8 --- --- 46.0 22.6 49.2% 36.0 16.1 45.0% -4.2% Total
15 Consolidated Balance Sheet － Financial Results for the First Half FY12 － （ Billion Yen ） End of FY11 End of FY12 2Q Change Item (A) (B) (B) - (A) 284.4 288.0 3.6 Current assets 380.4 381.7 1.2 Fixed assets 664.9 669.9 4.9 Total assets 253.9 249.6 -4.3 Interest-bearing debts 186.5 182.6 -3.9 Other liabilities 440.5 432.2 -8.2 Total liabilities 199.4 205.0 5.5 Equity capital *1 24.9 32.6 7.7 Minority interests and others 224.4 237.6 13.2 Total net assets 664.9 669.9 4.9 Total liabilities and net assets *1: Equity capital = Net assets - Share subscription rights - Minority interests
16 Consolidated Statements of Cash Flows － Financial Results for the First Half FY12 － （ Billion Yen ） Item FY11 2Q FY12 2Q Income before tax and minority interests 14.1 11.6 18.9 A.Cash flows from operating activities Depreciation and amortization 15.4 Working capital -5.1, Tax payment and others -7.4, etc. -23.3 -18.1 Acquisition of PP&E -18.4, etc. B.Cash flows from investing activities -11.7 0.8 Free cash flows (A+B) Increase in interest-bearing debts -4.8 -5.9 -1.7 C.Cash flows from financing activities Proceeds from stock issuance to minority shareholders 9.6 Dividends and others -6.1, etc. D.Net increase/decrease in cash and cash -17.3 -0.7 equivalents E.Cash and cash equivalents at end of the 32.1 32.4 quarter
17 FY12 Consolidated Forecasts
18 Scope of Consolidation － FY12 Consolidated Forecasts － End of FY11 End of FY12 Change Notes Item （ B) - （ A) (A) (B) Number of Newly Included: None 67 66 -1 consolidated Newly Excluded: 1 subsidiaries Number of Newly Included: 1 25 26 +1 equity method Newly Excluded: None affiliates 92 92 0 Total
19 Environmental Factors － FY12 Consolidated Forecasts － （ Billion Yen ） Impacts on FY11 FY12 Change Item Consolidated OP Income (A) (B) (B) - (A) 79.1 78.7 -0.4 0.0 Yen/$ Exchange Rate [78.0] $/ ｔ 965 954 -11 (CIF) 0.2 [950] Naphtha (0.2) Yen/KL 55,000 54,400 -600 (Domestic) Material Price [53,500] $/ ｔ 1,147 1,285 138 Benzene -4.3 (Average of US and Euro Contract Price) (-4.0) [1,325] $/ ｔ 143.6 127.2 -16.4 Australian 3.1 Coal [124.3] (CIF) 11,360 10,009 (3.2) Yen/t -1,351 [9,695] [ ]: numbers for the second half of the period only ( ): including impacts from fluctuation of exchange rate
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