FY2024

1st Quarter

Results Presentation

KITZ CORPORATION

May 2024

The forecast data presented herein reflects assumed results based on conditions that are subject to change. KITZ Corporation does not make representations as to, or warrant, in whole or in part, the attainment or realization of any of the forecasted results presented in this document. Numerical figures presented herein are rounded down.

©2024 KITZ CORPORATION All Rights Reserved

Contents

  1. FY2024 1st Quarter Financial Results
  2. FY2024 Forecast
  3. Topics
    - Appendix -

©2024 KITZ CORPORATION All Rights Reserved

｜2

  1. FY2024 1st Quarter Financial Results
  2. FY2024 Forecast
  3. Topics
    - Appendix -

©2024 KITZ CORPORATION All Rights Reserved

｜3

Summary of FY2024 1st Quarter Results

Sales

¥40.2 Billion

YoY：+2.5%

Progress*：48.1%

  • Valve Manufacturing Business

Increased by 3.4% YoY, on the back of the effects of price revisions and the foreign exchange rate, despite lower sales in the Semiconductor Equipment market and a decrease in sales volume in both domestic and overseas markets due to slow sales trends.

  • Brass Bar Manufacturing Business

Decreased by 2.3% YoY due to a sales volume decrease caused by weak demand in the overall industry.

Profit Attributable to

¥2.5 Billion

Owners of the Parent

YoY：(25.7)%

Progress*：50.2%

  • Decreased by 25.7% YoY due to decrease in gain on sales of investment securities from sale of shares held under a cross-shareholding arrangement.

Operating Profit

¥2.8 Billion

YoY：(19.6)%

Progress*：42.6%

  • Valve Manufacturing Business

Decreased by 15.3% YoY due to lower sales volume and inflation-related increase in expenses and labor costs.

  • Brass Bar Manufacturing Business

Increased by 87.0% YoY as a result of reduction in material waste, etc.

*Note: Progress against 1H Plan

©2024 KITZ CORPORATION All Rights Reserved

｜4

FY2024 1st Quarter Results

(Millions of Yen)

FY2023

FY2024

Progress

Q1

Q1

YoY Change

against H1

Results

Results

Sales

39,241

40,211

970

2.5%

48.1%

Valve Manufacturing

32,043

33,138

1,095

3.4%

47.7%

Brass Bar Manufacturing

6,723

6,566

(156)

(2.3)%

50.5%

Operating Profit

3,496

2,812

(683)

(19.6)%

42.6%

%

8.9%

7.0%

Valve Manufacturing

4,488

3,800

(688)

(15.3)%

44.2%

Brass Bar Manufacturing

87

163

76

87.0%

65.4%

Ordinary Profit

3,776

3,340

(436)

(11.6)%

48.8%

%

9.6%

8.3%

Profit Attributable to Owners of the

3,376

2,507

Parent

(869)

(25.7)%

50.2%

6.2%

%

8.6%

Yen / US Dollar

133.45

149.89

Yen / Euro

143.93

162.17

*Note : Total Sales and Operating Profit

Electrolytic Copper, Yen/ kg

1,237

1,301

include other segment and adjustment.

©2024 KITZ CORPORATION All Rights Reserved

｜5

Quarterly Results (Consolidated)

(Millions of Yen)

Sales/OP

OP Margin

45,000

OP(Right)

4,500

12.0%

Sales(Left)

9.8%

40,000

4,000

10.0%

8.9%

35,000

3,500

7.3%

8.0%

30,000

3,000

6.9%

7.0%

25,000

2,500

6.0%

20,000

2,000

4.0%

15,000

1,500

10,000

1,000

2.0%

5,000

500

0.0%

0

0

Q1

Q2

Q3

Q4

Q1

Q1

Q2

Q3

Q4

Q1

FY2023

FY2024

FY2023

FY2024

(Millions of Yen)

FY2023

FY2024

Q1

Q2

Q3

Q4

Q1

Sales

39,241

42,032

42,084

43,582

40,211

Operating Profit

3,496

3,076

4,129

2,985

2,812

Ordinary Profit

3,776

3,461

4,290

2,924

3,340

Net Profit

3,376

2,108

3,042

2,063

2,507

OP Margin

8.9%

7.3%

9.8%

6.9%

7.0%

©2024 KITZ CORPORATION All Rights Reserved

｜6

Quarterly Results (Valve Manufacturing)

(Millions of Yen)

Sales/OP

40,000

Sales(Left)

35,000

OP(Right)

30,000

25,000

20,000

15,000

10,000

5,000

0

Q1

Q2

Q3

Q4

Q1

FY2023

FY2024

6,000

5,000

4,000

3,000

2,000

1,000

0

16.0%

14.0%

12.0%

10.0%

8.0%

6.0%

4.0%

2.0%

0.0%

OP Margin

14.0%14.3%

12.0%

11.6%

11.5%

Q1

Q2

Q3

Q4

Q1

FY2023

FY2024

(Millions of Yen)

FY2023

FY2024

Q1

Q2

Q3

Q4

Q1

Sales

32,043

33,687

34,624

35,661

33,138

Operating Profit

4,488

4,042

4,949

4,145

3,800

OP Margin

14.0%

12.0%

14.3%

11.6%

11.5%

©2024 KITZ CORPORATION All Rights Reserved

｜7

Valve Manufacturing Business Results

- Sales by Market -

  • Building & Facilities / Petrochemicals : Remained stable.
  • Water Treatment : Increased YoY driven by sales from a large-scale project at a Group company in South Korea.
  • Semiconductor Equipment : Decreased YoY due to due to a sluggish market.
  • Semiconductor Materials (Filters) : Remained flat YoY, backed by the effect of the foreign exchange rate.
  • Fine Chemicals : Decreased YoY due to the absence of the previous year's large-scale project sales.
  • Hydrogen & Clean Energy : Increased YoY due to sales of hydrogen station package units.

(Billions of Yen)

FY2023

FY2024

Progress

YoY Change

against

Q1

Q2

Q3

Q4

Q1

H1 Plan

C

Building & Facilities

6.8

6.7

7.5

8.0

7.5

0.7

9.7%

23.8%

Petrochemicals

7.0

8.3

8.1

7.9

7.3

0.3

4.8%

22.7%

O

2.1

2.0

2.5

2.7

3.3

1.2

56.6%

33.8%

R Water Treatment

E

Machinery & Equipment

2.5

2.4

2.6

2.7

2.4

(0.1)

(4.3)%

25.8%

Core Total

18.4

19.4

20.7

21.3

20.5

2.1

11.3%

24.8%

G Semiconductor Equipment

6.1

6.2

6.4

6.3

5.3

(0.8)

(12.7)%

22.2%

R

Semiconductor Materials (Filters)

1.1

1.2

1.2

1.1

1.1

0.0

0.8%

22.2%

O

W Fine Chemicals

1.1

1.0

0.8

0.9

0.7

(0.4)

(38.3)%

16.9%

T

Hydrogen & Clean Energy

0.2

0.2

0.2

0.4

0.9

0.7

344.0%

34.5%

H

Growth 合計

8.5

8.6

8.6

8.7

8.0

(0.5)

(5.9)%

22.5%

Other

5.1

5.7

5.3

5.7

4.7

(0.4)

(8.5)%

20.5%

Total

32.0

33.7

34.6

35.7

33.1

1.1

3.6%

23.5%

Note : Since figures are shown in units of billion yen, totals may not align to the calculation.

All Rights Reserved

｜8

Valve Manufacturing Business Results

- Sales by Area -

  • Composition of Sales: Domestic 56% and overseas 44%
  • Domestic sales decreased by 3.2% YoY, while overseas sales influenced by foreign exchange rates rose by 13.3% YoY.
  • Americas : Decreased YoY due to lower sales in the North American semiconductor equipment market.
  • ASEAN, Korea, and other: Increased YoY on the back of sales from a project in the Middle East.
  • China : Increased YoY due to higher industrial product sales despite the real estate downturn.

(Billions of Yen)

FY2023

FY2024

YoY Change

Progress

against

Q1

Q2

Q3

Q4

Q1

H1 Plan

Japan

19.1

19.8

20.0

21.1

18.5

(0.6)

(3.2)%

22.2%

Overseas Total

12.8

13.8

14.5

14.5

14.5

1.7

13.3%

25.1%

ASEAN, Korea,

4.2

4.1

4.3

5.1

5.6

1.3

32.3%

29.5%

and other

China

2.4

3.1

3.8

3.5

2.7

0.3

14.9%

21.1%

India

0.4

0.4

0.5

0.5

0.4

(0.0)

(3.4)%

20.0%

Asia Total

7.1

7.7

8.7

9.1

8.8

1.7

24.1%

26.0%

Americas

4.5

4.7

4.5

4.1

4.4

(0.1)

(2.7)%

23.0%

(North and South America)

Europe, etc.

1.1

1.3

1.2

1.1

1.2

0.1

10.5%

24.5%

Note1 : From FY2024, the area aggregation grouping in the Asian market has been partially modified

Note2 : Since figures are shown in units of billion yen, totals may not align to the calculation.

©2024 KITZ CORPORATION All Rights Reserved

｜9

Valve Manufacturing Business Results

- Operating Profit Analysis by Factors-

(Millions of Yen)

FY2023

2024年

Progress

12月期

Q1

YoY Change

against H1

Results

1Q実績

Plan

Sales

32,043

33,138

1,095

3.4%

47.7%

Operating

4,488

3,800

(688)

(15.3)%

44.2%

Profit

(Millions of Yen)

6,000

5,000

4,000

3,000

2,000

1,000

4,488

Cost

Reduction

+60

Sales Volume

Product Mix

-530

Material

Cost

+70

Parts &

Energy Cost

-180

SG&A -230

Forex +120

3,800

0

FY2023 Q1

FY2024 Q1

©2024 KITZ CORPORATION All Rights Reserved ｜10

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Kitz Corporation published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 11:00:35 UTC.