Results for the Fiscal Year Ended

December 31, 2023

February 20, 2024

Toyo Tanso Co., Ltd.

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

Summary of Results for

the Fiscal Year Ended December 31, 2023

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

2

1. Results for the Fiscal Year Ended December 31, 2023

(Unit: Yen, millions)

Net sales

Operating

profit

(Ratio of operating profit to net sales)

Ordinary

profit

(Ratio of ordinary profit to net sales)

Profit attributable

to owners of

parent

Basic earnings

per share

ROE

Exchange

rate

FY2022

(A)

43,774

6,667

15.2%

7,369

16.8%

5,181

247.08 yen

6.9%

  1. yen/$
  1. yen/€

19.5 yen/CNY

FY2023

(A)

(F)*

Year-on-year change

Compared to forecast

49,251

48,500

+ 5,477

/

+ 12.5 %

+ 751

/

+ 1.5 %

9,283

8,500

+ 2,615

/

+ 39.2 %

+ 783

/

+ 9.2 %

18.8%

17.5%

10,182

9,300

+ 2,813

/

+ 38.2 %

+ 882

/

+ 9.5 %

20.7%

19.2%

7,506

7,000

+ 2,324

/

+ 44.9 %

+ 506

/

+ 7.2 %

357.91 yen

333.77 yen

9.3%

8.8%

140.6 yen/$

133 yen/$

152.0 yen/€

146 yen/€

19.8 yen/CNY

19 yen/CNY

* Announced on August 9, 2023

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

Exchange rate assumptions for H2

3

2. Factors Affecting Changes in Operating Profit

(Results for the year ended December 31, 2022 vs. results for the year ended December 31, 2023)

  • Achieved a significant increase of 39.2% in operating profit due to an increase in marginal profit (volumes, product mix, and price pass-on), despite increases in fixed costs (mainly personnel expenses)
    Offset the impact of soaring raw fuel prices through price pass-on

(Unit: Yen, 100 millions)

Inventory-

Other

Increase in

related

1.0

marginal

10.7

profit

41.3

Impact of exchange rates 5.3

FY2022

Operating

profit

66.6

Change in

raw fuel

prices

11.5 Increase Increase in in fixed depreciation

costs costs

18.9 1.7

FY2023

Operating

profit

92.8

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

4

3. Net Sales by Product and Segment

(Unit: Yen, millions)

60,000

50,000

40,000

30,000

20,000

10,000

0

41,132

6,200 36,402

5,958

20,254 9,093 16,417

  • 8,726
    4,959

3,656

1,732

3,921

4,991

4,527

8,767

8,370

10,075

9,883

1,307

1,513

2,155

1,652

43,774

37,734

8,104

31,226

6,751

20,230

9,598

17,143

5,266

8,377

2,527

13,907

7,024

2,013

3,985

1,616

3,738

4,823

3,763

5,727

4,701

7,808

11,765

9,944

9,306

6,743

7,835

1,820

1,497

1,092

2,969

1,819

1,017

49,251

10,585

24,052

10,843

2,624

4,116

4,457

14,129 12,215

1,913

2,494

Special Graphite Products [Electronics Applications]

Special Graphite Products

[General Industries

Applications]

Special Graphite Products

[Others]

Carbon Products for

General Industries

[Carbon Products for

Mechanical Applications]

Carbon Products for

General Industries

[Carbon Products for Electrical Applications]

Compound Materials and

Other Products

[Three Major Products]

Compound Materials and

Other Products

[Other Products]

Related goods

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

  • Net sales for special graphite products [others] for FY2018, include 3,204 million yen in net sales for China's high-temperaturereactor-pebble- bed modules (HTR-PM).

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

5

3. Net Sales by Product and Segment: Special Graphite Products

(Unit: Yen, millions)

  • Electronics applications

14,000

■ General industries applications

12,355

■ Other

11,697

12,000

11,088

10,000

9,142

4,940

5,644

4,613

8,000

3,491

6,000

4,000

4,472

5,125

5,386

5,457

2,000

0

1,179

1,348

1,370

1,253

FY2022/H1

FY2022/H2

FY2023/H1

FY2023/H2

Dies for continuous casting

Devices for single-crystal

silicon manufacturing

EDM electrodes

[Electronics applications]

Sales of products for single-crystal silicon manufacturing applications increased year on year, driven by a significant increase in the first half of the fiscal year, despite a slight decline in the second half. Sales of products for compound semiconductor manufacturing applications increased on the back of continuing strong demand, mainly for SiC semiconductors. As a result, sales for both applications reached record highs for the third consecutive fiscal year. Sales of products for solar cell manufacturing applications increased year on year thanks to firm demand, despite selective order acceptance focusing on value-added products.

[General industries applications]

Products for metallurgical applications such as continuous casting applications and industrial furnace applications, as well as EDM electrode applications, performed solidly, driven by factors such as the recovery of operations in automotive industries and steady capital investment.

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

6

3. Net Sales by Product and Segment: Carbon Products for General Industries

(Unit: Yen, millions) ■ Carbon products for mechanical applications

5,000

■ Carbon products for electrical applications

4,323

4,485

4,120

4,453

4,000

1,859

2,125

2,017

2,099

3,000

2,000

1,000

2,464

2,359

2,102

2,354

0

FY2022/H1

FY2022/H2

FY2023/H1 FY2023/H2

Contact strips of

pantograph

Bearings

Carbon brushes

[Carbon products for mechanical applications]

Sales of bearings, sealing rings, and contact strips of pantograph sliders increased year on year on firm demand.

[Carbon products for electrical applications]

Demand for small-motor applications for home appliances and power tools remained flat due to production adjustments by customers.

Steady progress was made in opening up new large-motor applications due to recognition of the high quality of our products. Although sales volume is still small, adoption is progressing for industrial machinery including wind power generation.

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

7

3. Net Sales by Product and Segment: Compound Materials and Other Products

(Unit: Yen, millions)

■ Three major products ■ Other

8,000

6,745

7,384

6,338

6,000

5,426

4,000

5,802

6,413

5,374

4,570

2,000

0

856

964

942

971

FY2022/H1

FY2022/H2

FY2023/H1

FY2023/H2

MOCVD susceptor

(SiC-coated graphite products)

Bolts and nuts

(C/C composite products)

Graphite sheet products

Three-layered trays

(C/C composite products)

[Three major products]

Sales of SiC-coated graphite products increased dramatically for SiC epitaxial applications. Sales for Si epitaxial applications were also solid. Although sales for LED applications remained low, the allocation of resources to products for booming semiconductor applications led to a significant increase in sales of these products, reaching the highest level ever.

Sales of C/C composite products increased year on year on the back of rising demand for industrial furnace applications.

Sales of graphite sheet products were little changed year on year, with firm demand for automotive, semiconductor, and metallurgical applications.

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

8

4. Sales by Region

  • Sales in Japan, Europe, and North America increased steadily, supported by demand for semiconductor and metallurgical applications.
    In Asia, despite adjustments for carbon for electrical applications and in some regions, sales for other applications were generally solid.

(Unit: Yen, millions)

50,000

41,132

40,000

36,402

15,198

30,000

16,458

■ Japan ■ Asia ■ Europe ■ North America ■ Other Regions

49,251

43,774

37,734

21,523

18,254

31,226

15,464

13,450

20,000

17,921

*

17,810

19,048

12,949

15,584

11,900

10,000

3,911

5,268

3,659

3,307

2,804

3,458

0

3,054

3,503

2,905

2,993

3,552

4,332

171

182

165

233

244

205

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

* Net sales in Asia for FY2018, include 3,204 million yen in net sales for China's high-temperaturereactor-pebble-bed modules (HTR-PM).

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

9

5. Consolidated Balance Sheet and Statement of Cash Flows for the Fiscal Year Ended December 31, 2023

(Unit: Yen, millions)

Consolidated Balance Sheet

December 31,

December 31,

Consolidated Statement

of Cash Flow

2022

2023

Total assets

89,432

96,612

Cash and cash equivalents

at beginning of period

Notes and accounts

Net increase (decrease) in

16,606

17,494

receivable - trade

cash and cash equivalents

(Unit: Yen, millions)

FY2022

FY2023

12,470

11,773

(696)

1,828

Inventories

18,416

21,806

Property, plant and

31,138

33,243

equipment

Total liabilities and net

89,432

96,612

assets

Interest-bearing

285

‐

liabilities

Share capital

7,947

7,947

Cash and cash equivalents at end of period

Net cash provided by operating activities

Net cash provided by (used in) investing activities

Net cash provided by (used in) financing activities

11,773

13,601

5,625

6,216

(5,253)

(2,693)

(1,388)

(1,970)

Net assets

77,200

84,524

Equity ratio

86.3%

87.4%

Copyright © Toyo Tanso Co., Ltd. All Rights Reserved

10

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Toyo Tanso Co. Ltd. published this content on 05 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 March 2024 08:52:08 UTC.