UBE Corporation · TSE:4208
UBE — FY2022 Earnings Presentation
39 slides from UBE's earnings presentation, May 12, 2023
Slide 1: FY2022 Consolidated Results, FY2023 Consolidated Forecasts
FY2022 Consolidated Results FY2023 Consolidated Forecasts Explanatory material May 12, 2023
Slide 2: FY2022 Consolidated Result
FY2022 Consolidated Result
Slide 3: Scope of Consolidation
FY2022 Consolidated Results Scope of Consolidation End of End of Difference Item FY2021 FY2022 Notes (A) (B) (B) - (A) ＋ API Corporation ＋ MAPIC Europe NV + UBE Corporation America Inc. － Meiwa Plastic Industries, Ltd. － Ube Reality & Development Co., Ltd. － UBE Advanced Materials INC. － Advanced El
Slide 4: Environmental Factors: Naphtha Material Price
FY2022 Consolidated Results Environmental Factors FY2021 FY2022 Difference Item (A) (B) (B) - (A) Exchange Rate Yen/$ 112.4 135.5 23.1 697 797 100 Naphtha CIF $/ｔ 56,200 76,500 20,300 Material Price Domestic Yen/KL Benzene (ACP) $/ｔ 990 1,038 48 Australian $/ｔ 170.3 393.8 223.5 Coal (CIF) Yen/t 19,1
Slide 5: Major P/L Items
FY2022 Consolidated Results Major P/L Items (Billions of yen) FY2021 FY2022 Difference Percentage Item change (A) (B) (B) - (A) Net sales 655.3 494.7 (160.5) (24.5)% Operating profit 44.0 16.3 (27.7) (63.0)% Ordinary profit (loss) 41.5 (8.7) (50.2) － Profit (loss) attributable 24.5 (7.0) (31.5) － to
Slide 6: Net Sales and Operating Profit by Segment
FY2022 Consolidated Results Net Sales and Operating Profit by Segment (Billions of yen) FY2021 FY2022 Difference Percentage Segment * (A) (B) (B) - (A) change Specialty Products 60.8 62.2 1.4 2.3% Net sales Polymers & Chemicals 260.0 293.4 33.3 12.8% Machinery 97.0 96.9 (0.1) (0.1)% Others 54.2 73.1
Slide 7: Analysis - Total
FY2022 Consolidated Results Analysis － Total (Billions of yen) Net Sales Qualitative Information 800.0 Net sales: Down 655.3 (160.5) Specialty Products 1.4 • Polymers & Chemicals: Higher sales prices due to higher raw material market prices 494.7 Polymers & Chemicals 33.3 • Cement-related: Business
Slide 8: Analysis - Specialty Products
FY2022 Consolidated Results Analysis － Specialty Products (Billions of yen) Net Sales Qualitative Information 80.0 Net sales: Up +1.4 62.2 • Polyimides: Negative impact of inventory adjustments of COF for 60.8 displays despite strong sales of varnish for organic EL panels • Separation membranes: Str
Slide 9: Analysis - Polymers & Chemicals
FY2022 Consolidated Results Analysis － Polymers & Chemicals (Billions of yen) Net Sales Qualitative Information 400.0 +33.3 Net sales: Up 293.4 • Higher sales prices due to higher raw material prices, etc., despite a 260.0 Performance Polymers 29.7 slowdown in demand for automobile and nylon fiber &
Slide 10: Analysis - Machinery
FY2022 Consolidated Results Analysis － Machinery (Billions of yen) Net Sales Qualitative Information 120.0 Net sales: Down 97.0 (0.1) 96.9 • Molding machine: Increased sales volume due to recovery of orders from automotive industry • Industrial machines: Large projects such as bulk handling machines
Slide 11: Analysis - Others
FY2022 Consolidated Results Analysis － Others (Billions of yen) Net Sales Qualitative Information 100.0 Net sales: Up +18.9 73.1 • Pharmaceutical: Consolidation of API Corporation and strong sales of both drugs developed by UBE and those manufactured under 54.2 contract Pharmaceutical 5.1 50.0 • Pow
Slide 12: Operating Profit - Profit attributable to owners of parent
FY2022 Consolidated Results Operating Profit － Profit attributable to owners of parent (Billions of yen) FY2021 FY2022 Difference Item (A) (B) (B) - (A) Operating profit 44.0 16.3 (27.7) Non-operating income (expenses) (2.5) (25.0) (22.5) Net interests expenses 0.3 0.7 0.3 Share of profit (loss) of
Slide 13: Consolidated Balance Sheet
FY2022 Consolidated Results Consolidated Balance Sheet (Billions of yen) End of FY2021 End of FY2022 Difference Item (A) (B) (B) - (A) Current assets 394.7 283.0 (111.7) Fixed assets 443.1 448.5 5.3 Total assets 838.0 731.6 (106.3) Interest-bearing debt 241.8 218.1 (23.7) Other liabilities 202.1 131
Slide 14: Consolidated Statements of Cash Flows
FY2022 Consolidated Results Consolidated Statements of Cash Flows (Billions of yen) Item FY2021 FY2022 Loss before income taxes (2.6) Depreciation and amortization 25.4 Share of loss of entities accounted for using equtiy method 23.1 A.Cash flows from operating activities 32.7 18.1 Gain on Change in
Slide 15: FY2023 Consolidated Forecasts
FY2023 Consolidated Forecasts 15
Slide 16: Scope of Consolidation
2022年度 FY2023 連結業績予想 Consolidated Forecasts Scope of Consolidation End of End of Difference Item FY2022 FY2023 Notes (A) (B) （B) - （A) Number of consolidated 36 36 - subsidiaries Number of equity method 15 15 - affiliates Total 51 51 - 16
Slide 17: Environmental Factors: Naphtha Material Price
2022年度 FY2023 連結業績予想 Consolidated Forecasts Environmental Factors FY2022 FY2023 Difference Item (A) (B) (B) - (A) Exchange Rate Yen/$ 135.5 130.0 (5.5) CIF $/ｔ 797 740 (57) Naphtha 76,500 68,900 (7,600) Material Price Domestic Yen/KL Benzene $/ｔ 1,038 920 (118) (ACP) Australian $/ｔ 393.8 224.0 (169.
Slide 18: Major P/L & B/S Items
2022年度 FY2023 連結業績予想 Consolidated Forecasts Major P/L & B/S Items (Billions of yen) FY2022 FY2023 Difference Percentage Item (A) (B) (B) - (A) change Net sales 494.7 545.0 50.3 10.2% Operating profit 16.3 30.0 13.7 84.2% Ordinary profit (loss) (8.7) 38.5 47.2 － Profit (loss) attributable to owners o
Slide 19: Net Sales and Operating Profit by Segment
2022年度 FY2023 連結業績予想 Consolidated Forecasts Net Sales and Operating profit by Segment * (Billions of yen) Segment FY2022 FY2023 Difference Percentage (A) (B) (B) - (A) change Specialty Products 62.2 71.5 9.3 15.0% Net sales Polymers & Chemicals 293.4 313.0 19.6 6.7% Machinery 96.9 108.5 11.6 11.9% O
Slide 20: Analysis - Total
FY2023 Consolidated Forecasts Analysis － Total (Billions of yen) Net Sales Qualitative Information 700.0 Net sales: Up +50.3 545.0 494.7 Specialty Products 9.3 • Polymers & Chemicals: Recovery in demand Polymers & Chemicals 19.6 • Pharmaceutical: Consolidation of API Corporation Machinery 11.6 350.0
Slide 21: Analysis - Specialty Products
FY2023 Consolidated Forecasts Analysis － Specialty Products (Billions of yen) Net Sales Qualitative Information 90.0 Net sales: Up +9.3 71.5 • Polyimide: Increase in sales of varnish for organic EL panels and 62.2 other products • Separation membranes: Increase in sales mainly for biogas-related app
Slide 22: Analysis - Polymers & Chemicals
FY2023 Consolidated Forecasts Analysis － Polymers & Chemicals (Billions of yen) Net Sales Qualitative Information 400.0 Net sales: Up +19.6 313.0 • Nylon polymers: Recovery in demand for products such as nylon film 293.4 for food packaging Performance Polymers • Industrial chemicals: Sales increase
Slide 23: Analysis - Machinery
FY2023 Consolidated Forecasts Analysis － Machinery (Billions of yen) Net Sales Qualitative Information 140.0 +11.6 108.5 96.9 Net sales: Up • Molding machine: Increase in sales for automotive industry 70.0 Operating profit: Up • Molding machine: Increase in sales for automotive industry • Steel prod
Slide 24: Analysis - Others
FY2023 Consolidated Forecasts Analysis － Others (Billions of yen) Net Sales Qualitative Information 120.0 +15.4 88.5 Net sales: Up 73.1 • Pharmaceutical: Consolidation of API Corporation Pharmaceutical 14.6 60.0 Power 1.9 Operating profit: Up etc • Pharmaceutical: Increase in royalty revenues • Powe
Slide 25: Operating Profit - Profit attributable to owners of parent
2022年度 FY2023 連結業績予想 Consolidated Forecasts Operating Profit － Profit attributable to owners of parent (Billions of yen) FY2022 FY2023 Difference Item (A) (B) (B) - (A) Operating profit 16.3 30.0 13.7 Non-operating income (expenses) (25.0) 8.5 33.5 Share of profit (loss) of entities accounted for us
Slide 26: Reference
Reference
Slide 27: Analysis of Operating Profit by Segment
Reference: FY2022 Consolidated Results Analysis of Operating profit by Segment （Billions of yen） Operating profit Segment FY2021 FY2022 Difference Fixed cost Price Volume and others (A) (B) (B) - (A) *1 *2 Specialty Products 11.6 10.5 (1.2) (0.0) (0.8) (0.3) Polymers & Chemicals 23.5 2.4 (21.1) (6.0
Slide 28: Net Sales
Reference: FY2022 Consolidated Results Net Sales (Billions of yen) FY2022 Segment 1Q 2Q 3Q 4Q Total Specialty Products 15.3 16.5 15.6 14.8 62.2 Polymers & Chemicals 71.4 78.0 75.7 68.2 293.4 Machinery 20.3 24.9 24.0 27.6 96.9 Others 15.6 17.8 17.3 22.5 73.1 Adjustment (6.5) (8.6) (9.1) (6.7) (30.8)
Slide 29: Operating Profit
Reference: FY2022 Consolidated Results Operating Profit (Billions of yen) FY2022 Segment 1Q 2Q 3Q 4Q Total Specialty Products 2.8 2.7 3.0 1.9 10.5 Polymers & Chemicals 1.9 0.5 0.9 (0.9) 2.4 Machinery 0.4 0.9 1.4 2.6 5.2 Others 0.7 0.6 0.5 0.9 2.6 Adjustment (1.4) (0.5) (1.3) (1.3) (4.5) Total 4.4 4.
Slide 30: 4Q on 3Q - Net Sales
Reference: FY2022 Consolidated Results 4Q on 3Q － Net Sales （Billions of yen） FY2022 FY2022 Difference Segment 3Q 4Q Major factors (A) (B) (B) - (A) Specialty Products 15.6 14.8 (0.9) Performance Polymers & Chemicals (5.9) Polymers & Chemicals 75.7 68.2 (7.6) Elastmer (1.7) Machinery 24.0 27.6 3.6 P
Slide 31: 4Q on 3Q - Operating Profit
Reference: FY2022 Consolidated Results 4Q on 3Q － Operating Profit （Billions of yen） FY2022 FY2022 Difference Segment 3Q 4Q Major factors (A) (B) (B) - (A) Specialty Products 3.0 1.9 (1.1) Performance Polymers & Chemicals (0.4) Polymers & Chemicals 0.9 (0.9) (1.7) Elastmer (1.3) Machinery 1.4 2.6 1.
Slide 32: Net Sales and Operating Profit by Business Portfolio
Reference: FY2022 Consolidated Results Net Sales and Operating Profit by Business Portfolio (Billions of yen) FY2022 FY2023 Business portfolio Difference (A) (B) Specialty business 138.2 165.0 26.9 Net sales Basic business 236.9 252.0 15.1 Machinery business 96.9 108.5 11.6 Other businesses (incl. a
Slide 33: Mitsubishi UBE Cement
Reference: FY2022 Consolidated Results Mitsubishi UBE Cement (Billions of yen) ■Major P/L Items ■Environmental Factors Mitsubishi UBE Cement Corporation and Consolidated Subsidiaries Item FY2022 FY2023 Item FY2022 FY2023 Total demand for cement in Net Sales 576.3 670.0 Japan (million tons) 37.24 38.
Slide 34: Consolidated Key Indicators
Reference: FY2022 Consolidated Results Consolidated Key Indicators (Billions of yen) FY2023 Item FY2021 FY2022 (forecast) Capital investment 39.6 29.3 47.5 Depreciation and amortization 36.5 25.4 24.5 Research and development expenses 11.8 10.4 11.0 Adjusted operating profit (loss) 43.3 (5.4) 41.0 I
Slide 35: Consolidated Major Subsidiaries
Reference: FY2022 Consolidated Results Consolidated Major Subsidiaries (Billions of yen) Difference of Net Sales operating Subsidiaries and Affiliates Business profit from FY2022 FY 2021 Manufacture and sales of nylon, caprolactam, ammonium sulfate and UBE Corporation Europe, S.A. Unipersonal fine c
Slide 36: Net Sales and Operating Profit in Half Years by Segment
Reference: FY2023 Consolidated Forecast Net Sales and Operating Profit in Half Years by Segment （Billions of yen） フリーレイアウトスペース Net Sales Operating profit Segment First Second First Second Total Total half half half half Specialty Products 34.0 37.5 71.5 5.5 7.0 12.5 Polymers & Chemicals 153.0 160.0
Slide 37: Major Items for Capital Expenditure
Reference: FY2023 Consolidated Forecast Major Items for Capital Expenditure フリーレイアウトスペース Estimated Segment Subject Place completion date Expand plant of raw material of Ube, Japan FY2023 polyimide (BPDA) Specialty Expand production facilities for Ube, Japan FY2024 Products polyimide film Expand prod
Slide 38: IR Calendar
Reference: IR Calendar FY2023 Management Overview Briefing and 1st Quarter FY2023 Business Results ➢ FY2023 Management Overview Briefing • May 23, 2023 10:00 ー 11:30 ➢ Announcement of 1st quarter FY2023 Business Results • August 4, 2023 15:00 ➢ Telephone Conference for 1st Quarter FY2023 Business Re
Slide 39: Forward-looking statements disclaimer
This presentation material contains forward-looking statements concerning UBE’s future plans, strategies, and performance. These forward-looking statements are not historical facts; rather, they represent assumptions and beliefs based on economic, financial, and competitive conditions currently obse