UBE Corporation · TSE:4208
UBE — FY2021 Earnings Presentation
37 slides from UBE's earnings presentation, May 12, 2022
Slide 1: FY2021 Consolidated Results, FY2022 Consolidated Forecasts
FY2021 Consolidated Results FY2022 Consolidated Forecasts Explanatory material May 12, 2022
Slide 2: FY2021 Consolidated Results
FY2021 Consolidated Results 2
Slide 3: Scope of Consolidation
FY2021 Consolidated Results Scope of Consolidation End of FY2020 End of FY2021 Difference Item Notes (A) (B) （B) - （A) ＋ UBE Elastomer Co., Ltd. Number of ＋ UBE HIGH CO., LTD consolidated 66 65 (1) － Yamaishi Metal Co., Ltd. － UBE PROCESSING TEC CORPORATION subsidiaries － NANTONG UBE CONCRETE CO., L
Slide 4: Environmental Factors
FY2021 Consolidated Results Environmental Factors FY2020 FY2021 Difference Item (A) (B) (B) - (A) Exchange Rate Yen/$ 106.1 112.4 6.3 399 702 303 Naphtha CIF $/ｔ 31,300 56,700 25,400 Material Price Domestic Yen/KL Benzene (ACP) $/ｔ 500 990 490 Australian $/ｔ 82.0 170.3 88.3 Coal (CIF) Yen/t 8,700 19
Slide 5: Major P/L Items
FY2021 Consolidated Results Major P/L Items (Billions of yen) FY2020 FY2021 Difference Percentage Item (A) (B) (B) - (A) change 613.9 655.3 41.4 － Net sales *1 738.0 124.1 20.2% Operating profit 25.9 44.0 18.1 70.0% Ordinary profit 23.3 41.5 18.3 78.4% Profit attributable to 22.9 24.5 1.6 6.8% owner
Slide 6: Net Sales and Operating Profit by Segment
FY2021 Consolidated Results Net Sales and Operating Profit by Segment (Billions of yen) FY2020 FY2021 Difference Percentage Segment (A) (B) (B) - (A) change 259.4 341.5 82.1 － Chemicals *1 351.7 92.3 35.6% 282.9 221.5 (61.4) － Construction Materials Net sales 296.2 13.3 4.7% 78.7 97.0 18.3 － Machine
Slide 7: Analysis - Total
FY2021 Consolidated Results Analysis - Total (Billions of yen) Net Sales Difference of operating profit 800.0 +41.4 655.3 Chemicals 82.1 613.9 +124.1 655.3 738.0 Construction Materials (61.4) Price ※1 (0.3) *1 Machinery 18.3 合成ゴム 69.0 Others 0.3 400.0 Adjustment 2.1 Volume 12.8 カプロラクタム (6.0) － 0.0 F
Slide 8: Analysis - Chemicals
FY2021 Consolidated Results Analysis - Chemicals (Billions of yen) Net Sales Difference of operating profit Engineering Plastics & Fine Chemicals 59.0 +82.1 341.5 Synthetic rubber 21.6 Price ※1 14.9 +92.3 351.7 Specialty Products (0.0) 合成ゴム 69.0 *1 Pharmaceutical 1.4 Volume 10.7 etc カプロラクタム (6.0) －
Slide 9: Analysis - Construction Materials
FY2021 Consolidated Results Analysis –Construction Materials (Billions of yen) Net Sales Difference of operating profit Cement and Ready-mixed concrete (80.7) (61.4) Construction materials and 3.1 +13.3 Price ※1 (14.3) Limestone related products 221.5 *1 Coal 15.9 69.0 296.2 Power 0.8 Volume 1.2 etc
Slide 10: Analysis - Machinery
FY2021 Consolidated Results Analysis - Machinery (Billions of yen) Net Sales Difference of operating profit +18.3 +16.1 97.0 Price ※1 (0.8) *1 94.8 69.0 Volume 0.9 (6.0) － 20.4% Increased Fixed Cost and Others ※2 2.3 Operating profit Total 2.3 +2.3 *1: Including both selling and purchase change 81.2
Slide 11: Operating Profit – Profit attributable to owners of parent
FY2021 Consolidated Results Operating Profit – Profit attributable to owners of parent (Billions of yen) FY2020 FY2021 Difference Item (A) (B) (B) - (A) Operating profit 25.9 44.0 18.1 Non-operating income (expenses) (2.6) (2.5) 0.1 Net interests expenses 0.1 0.3 0.3 Share of profit (loss) of entiti
Slide 12: Consolidated Balance Sheet
FY2021 Consolidated Results Consolidated Balance Sheet (Billions of yen) End of FY2020 End of FY2021 Difference Item (A) (B) (B) - (A) Current assets 331.7 394.7 63.0 Fixed assets 437.8 443.1 5.3 Total assets 769.7 838.0 68.2 Interest-bearing debt 214.8 241.8 27.0 Other liabilities 174.3 202.1 27.8
Slide 13: Consolidated Statements of Cash Flows
FY2021 Consolidated Results Consolidated Statements of Cash Flows (Billions of yen) Item FY2020 FY2021 Profit before income taxes 36.8 Depreciation and amortization 36.5 A.Cash flows from operating activities 66.1 32.7 Decrease in working capital (40.5) Income taxes paid (5.4) etc. B.Cash flows from
Slide 14: FY2022 Consolidated Forecasts
FY2022 Consolidated Forecasts 14
Slide 15: Scope of Consolidation
FY2022 Consolidated Forecasts Scope of Consolidation End of End of Difference Item FY2021 FY2022 Notes (A) (B) （B) - （A) － Meiwa Plastic Industries, Ltd. － Ube Reality & Development Co., Ltd. － UBE Advanced Materials INC. － Advanced Electrolyte Technologies LLC － R-Koma, Ltd. － Ichinoseki Remicon Co
Slide 16: Environmental Factors
FY2022 Consolidated Forecasts Environmental Factors FY2021 FY2022 Difference Item (A) (B) (B) - (A) Exchange Rate Yen/$ 112.4 125.0 12.6 CIF $/ｔ 702 850 148 Naphtha Material Price Domestic Yen/KL 56,700 69,200 12,500 Benzene $/ｔ 990 1,070 80 (ACP) Australian $/ｔ 170.3 283.0 112.8 Coal (CIF) Yen/t 19
Slide 17: Major P/L & B/S Items
FY2022 Consolidated Forecasts Major P/L & B/S Items (Billions of yen) FY2021 FY2022 Difference Percentage Item change (A) (B) (B) - (A) Net sales 655.3 510.0 (145.3) (22.2)% Operating profit 44.0 34.5 (9.5) (21.7)% Ordinary profit 41.5 31.0 (10.5) (25.4)% Profit attributable to 24.5 21.0 (3.5) (14.3
Slide 18: Segment Change
FY2022 Consolidated Forecasts Segment Change 旧セグメント 内 容 新セグメント 内 容 ・ Engineering Plastics & Fine Chemicals Nylon Polymer, Composite ・ Polyimide Caprolactam, Ammonium Sulfate ・ Battery materials Industrial Chemicals Specialty ・ Specialty products Fine Chemicals, High-Performance Coating Products ・ El
Slide 19: Net Sales and Operating Profit by Segment
FY2022 Consolidated Forecasts Net Sales and Operating Profit by Segment (Billions of yen) FY2021 FY2022 Difference Percentage Segment *1 change (A) (B) (B) - (A) Specialty Products 60.8 69.0 8.2 13.5% Net sales Polymers & Chemicals 260.0 302.0 42.0 16.1% Machinery 97.0 106.0 9.0 9.3% Others 53.2 60.
Slide 20: Analysis - Total
FY2022 Consolidated Forecasts Analysis - Total (Billions of yen) Net Sales Qualitative Information Net Sales : Decreased 800.0 655.3 (145.3) • Cement-related business : 510.0 Split and converted to an equity-method affiliate • Specialty Products, Polymers & Chemicals : 400.0 Increase in sales volume
Slide 21: Analysis - Specialty Products
FY2022 Consolidated Forecasts Analysis - Specialty Products (Billions of yen) Net Sales Qualitative Information Net Sales : Increased +8.2 • Polyimide : Steady sales of the COF films mainly used on displays and varnish used for organic EL panels • Separation Membrane ： Focus on environment and energ
Slide 22: Analysis – Polymers & Chemicals
FY2022 Consolidated Forecasts Analysis – Polymers & Chemicals (Billions of yen) Net Sales Qualitative Information +42.0 Net Sales : Increased • Nylon Polymer and Composite, Caprolactam, Synthetic rubber : Increased sales volume due to strong demand • Sales price rising due to the raw materials and f
Slide 23: Analysis – Machinery
FY2022 Consolidated Forecasts Analysis – Machinery (Billions of yen) Net Sales Qualitative Information Net Sales : Increased +9.0 • Molding Machine : Demand for overseas automobile industry is expected to be on a recovery trend • Industrial Machines : Impact of large-scale projects for electric powe
Slide 24: Analysis – Others (Pharmaceutical, In-house Power etc.)
FY2022 Consolidated Forecasts Analysis – Others (Pharmaceutical, In-house Power etc.) (Billions of yen) Net Sales Qualitative Information +6.8 Net Sales : Increased • In-house Power : Increase in power sales volume (Since the cement-related business was split and transferred to an equity-method affi
Slide 25: Operating Profit – Profit attributable to owners of parent
FY2022 Consolidated Forecasts Operating Profit – Profit attributable to owners of parent (Billions of yen) FY2021 FY2022 Difference Item (A) (B) (B) - (A) Operating profit 44.0 34.5 (9.5) Non-operating income (expenses) (2.5) (3.5) (1.0) Share of loss of entities accounted for using equtiy method re
Slide 26: Reference
Reference 26
Slide 27: Analysis of Operating Profit by Segment
Reference: FY2021 Consolidated Results Analysis of Operating Profit by Segment （Billions of yen） Operating profit Segment FY2020 FY2021 Difference Fixed cost Price Volume and others (A) (B) (B) - (A) *1 *2 Chemicals 8.2 35.5 27.3 14.9 10.7 1.8 Construction Materials 14.7 3.4 (11.3) (14.3) 1.2 1.7 *3
Slide 28: Net Sales
Reference: FY2021 Consolidated Results Net Sales (Billions of yen) FY2021 Segment 1Q 2Q 3Q 4Q Total Chemicals 76.8 80.6 90.3 93.8 341.5 Construction 48.7 57.1 55.7 60.0 221.5 Materials Machinery 21.4 23.9 25.4 26.2 97.0 Others 0.8 0.8 0.9 0.9 3.4 Adjustment (1.4) (2.0) (2.3) (2.4) (8.1) Total 146.3
Slide 29: Operating Profit
Reference: FY2021 Consolidated Results Operating Profit (Billions of yen) FY2021 Segment 1Q 2Q 3Q 4Q Total Chemicals 7.6 6.9 11.5 9.4 35.5 Construction 0.7 1.4 1.5 (0.1) 3.4 Materials Machinery 0.7 1.6 0.8 1.9 5.1 Others 0.1 0.1 0.2 0.2 0.6 Adjustment (0.2) 0.1 (0.2) (0.3) (0.5) Total 8.9 10.2 13.8
Slide 30: 4Q on 3Q - Net Sales
Reference: FY2021 Consolidated Results 4Q on 3Q - Net Sales （Billions of yen） FY2021 FY2021 Difference Segment 3Q 4Q Major factors (A) (B) (B) - (A) Engineering Plastics & Fine 7.8 Chemicals Chemicals 90.3 93.8 3.5 Synthetic rubber (1.6) Specialty Products 0.1 Pharmaceutical 1.9 etc. Cement and Read
Slide 31: 4Q on 3Q - Operating Profit
Reference: FY2021 Consolidated Results 4Q on 3Q - Operating Profit （Billions of yen） FY2021 FY2021 Difference Segment 3Q 4Q Major factors (A) (B) (B) - (A) Engineering Plastics & Fine 0.1 Chemicals Chemicals 11.5 9.4 (2.0) Synthetic rubber (2.5) Specialty Products (0.7) Pharmaceutical 1.2 etc. Cemen
Slide 32: Consolidated Key Indicators
Reference: FY2021 Consolidated Results Consolidated Key Indicators (Billions of yen) FY2022 Item FY2020 FY2021 (forecast) Capital investment 37.2 39.6 39.0 Depreciation and amortization 36.4 36.5 24.0 Research and development expenses 11.4 11.8 11.0 Adjusted operating profit 28.0 43.3 36.0 Interest-
Slide 33: Consolidated Major Subsidiaries
Reference: FY2021 Consolidated Results Consolidated Major Subsidiaries (Billions of yen) Difference of Net Sales operating Subsidiaries and Affiliates Business profit from FY 2021 FY 2020 Manufacture and sales of nylon, caprolactam, ammonium sulfate and UBE Corporation Europe, S.A. Unipersonal fine
Slide 34: Net Sales and Operating Profit in Half Years by Segment
Reference: FY2022 Consolidated Forecasts Net Sales and Operating Profit in Half Years by Segment （Billions of yen） Net Sales Operating profit Segment First Second First Second Total Total half half half half Specialty Products 33.0 36.0 69.0 5.5 7.5 13.0 Polymers & Chemicals 148.0 154.0 302.0 6.5 12
Slide 35: Major Items for Capital Expenditure
Reference: FY2022 Consolidated Forecasts Major Items for Capital Expenditure Estimeated Segment Subject Place completion date Expand plant of raw material of Ube, Japan FY2023 polyimide (BPDA) Specialty Products Expand production facilities for Ube, Japan FY2024 polyimide Film 35
Slide 36: IR Calendar
Reference: IR Calendar Analyst Briefing and Announcement of 1st Quarter Business Results FY2022 Analyst Briefing （Telephone conference） • May 19, 10:00 Announcement of 1st quarter Business Results • August 4, 15:00 Telephone Conference for 1st Quarter • August 4, 18:00 (Note) This schedule is subjec
Slide 37: Forward-looking statements
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