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Friday, 4 December 2015, 14:00 HKT/SGT
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Source: Showa Denko K.K.
Showa Denko Revises Consolidated Performance Forecast for 2015

TOKYO, Dec 4, 2015 - (JCN Newswire) - Showa Denko (SDK) (TOKYO: 4004) has revised its consolidated performance forecast for full-year 2015 announced on July 30, 2015, taking into consideration the recent business trends.

1. Revised forecast of consolidated business results for Jan.1 - Dec. 31, 2015
(Millions of yen, excepting net income per share)
---------------------------------------------------------------------------
                   Net sales  Operating  Ordinary  Net income    Net income
                                 income    income             per share (y)
---------------------------------------------------------------------------
Earlier forecast (A) 825,000     40,000    37,000      10,000          7.00
(Announced on July 30, 2015) 
---------------------------------------------------------------------------
Revised forecast (B) 785,000     34,000    31,000       7,000          4.90
(Announced on Dec. 4, 2015) 
---------------------------------------------------------------------------
(B) - (A)            -40,000     -6,000    -6,000      -3,000
---------------------------------------------------------------------------
Percentage of changes  -4.8%     -15.0%    -16.2%      -30.0%
---------------------------------------------------------------------------
2014 results
(Reference)          876,580     20,915    22,102       3,500          2.38
---------------------------------------------------------------------------
2. Reasons for the revision of consolidated performance forecast

Net sales will be lower than the earlier forecast. Though shipment volumes of petrochemical products are expected to remain firm, sales in the Petrochemicals segment will decrease due to the lower-than-earlier-forecast tendencies in sales prices of petrochemical products, reflecting the fall in raw naphtha prices. Sales in Electronics segment will also be lower than the earlier forecast due to lower-than-expected shipment volumes of HD media.

Operating income will also be lower than the earlier forecast. Operating income from the Chemicals segment will increase because shipment volumes of high-purity semiconductor-processing gases remain strong. However, operating income from the Petrochemicals segment will be lower than the earlier forecast because of the decline in market prices of raw naphtha, which will result in loss on feedstock cost adjustment. Operating income from the Electronics segment will also be lower than the earlier forecast due to the decline in shipment volumes of HD media and the sluggish market for rare earth magnetic alloys. In addition, operating income from the Inorganics segment will also be lower than expected due to the decline in shipment volumes and sales prices of graphite electrodes on the Asian market.

Ordinary income and net income will be lower than the earlier forecast due mainly to the lower-than-expected operating income.


About Showa Denko K.K.

Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY), a major manufacturer of chemical products, serves a wide range of fields from heavy industry to electronics and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, and the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory and graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

Contact:
IR Office, Finance & Accounting Department
Phone: 81-3-5470-3323


Dec 4, 2015 14:00 HKT/SGT
Source: Showa Denko K.K.

Showa Denko K.K. (TSE: 4004)

Topic: Press release summary
Sectors: Chemicals
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