Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 9 May 2018, 14:00 HKT/SGT
Share:
    

Source: Showa Denko K.K.
Showa Denko Revises 2018 Performance Forecast

TOKYO, May 9, 2018 - (JCN Newswire) - Showa Denko ("SDK"; TSE:4004) hereby announces revised forecast of consolidated financial results for the first half (January 1 - June 30) of 2018. SDK announced the earlier forecast on February 14, 2018. Accordingly, SDK revises forecast of consolidated financial results for full-year 2018. Regarding the revised forecast of consolidated financial results for full-year 2018, SDK reflected the difference between the earlier forecast and the revised forecast for the first half of the year, but did not revise the forecast of consolidated financial results for the second half (July 1 - December 31) of 2018.

1. Revised forecast of consolidated financial results for the first half of 2018
(Millions of yen, excepting net income attributable 
to owners of the parent per share)
---------------------------------------------------------------------------
                Net sales  Operating  Ordinary  Net income    Net income
                           income     income    attributable  attributable
                                                to owners of  to owners of
                                                the parent    the parent
                                                              per share (y)
---------------------------------------------------------------------------
Earlier forecast (A) (Announced on Feb. 14, 2018)
                  417,000     41,000    39,000        23,000         157.69
---------------------------------------------------------------------------
Revised forecast (B) (Announced on May 9, 2018)
                  452,000     68,000    64,500        43,000         294.81
---------------------------------------------------------------------------
(B) - (A)          35,000     27,000    25,500        20,000
---------------------------------------------------------------------------
Percentage of changes
                     8.4%      65.9%     65.4%         87.0%
---------------------------------------------------------------------------
Reference: Results for the first half of 2017
                  372,193     35,027    22,238         7,837          54.98
---------------------------------------------------------------------------
Reasons for the revision of consolidated performance forecast

Net sales are expected to exceed the earlier forecast in all segments. Especially in the Inorganics segment, market prices of graphite electrodes are higher than expected because of tighter supply-demand situation. Also in the Petrochemicals segment, market prices of products are higher than earlier forecast on the background of strong demand in Asia.

Operating incomes in five segments other than the Aluminum segment are expected to be higher than those in the earlier forecast, though that in the Aluminum segment is expected to be at the same level of the earlier forecast. Operating income in the Inorganics segment is expected to be considerably higher than the earlier forecast due to a rise in prices of graphite electrodes. Operating income in the Petrochemicals segment is also expected to be higher than the earlier forecast due to the use of raw material naphtha in the first quarter of 2018 purchased before the increase in naphtha prices, in addition to the continuously strong market for petrochemical products. Operating incomes in the Chemicals, Electronics, and Others segments are also expected to increase on the background of strong demand for products.

As a result, we expect ordinary income and net income attributable to owners of the parent for the first half of 2018 will also significantly exceed the earlier forecast.

2. Revised forecast of consolidated financial results for full-year 2018 (January - December)
(Millions of yen, excepting net income attributable
to owners of the parent per share)
---------------------------------------------------------------------------
                Net sales  Operating  Ordinary  Net income    Net income
                           income     income    attributable  attributable
                                                to owners of  to owners of
                                                the parent    the parent
                                                              per share (y)
---------------------------------------------------------------------------
Earlier forecast (A) (Announced on Feb. 14, 2018)
                  900,000    110,000   106,000        65,000         441.58
---------------------------------------------------------------------------
Revised forecast (B) (Announced on May 9, 2018) 
                  935,000    137,000   131,500        85,000         577.45
---------------------------------------------------------------------------
(B) - (A)          35,000     27,000    25,500        20,000
---------------------------------------------------------------------------
Percentage of changes 
                     3.9%      24.5%     24.1%         30.8%
---------------------------------------------------------------------------
Reference: Results for fill-year 2017
                  780,387     77,818    63,962        33,470         234.84
---------------------------------------------------------------------------
Reasons for the revision of consolidated performance forecast

With regard to the forecast of consolidated financial results for full-year 2018, we reflected only the increases in the forecast for the first half of 2018, but did not revise the forecast of consolidated financial results for the second half of 2018.

The amount of prospective term-end dividend is not changed from the earlier forecast, which is 70 yen per share.


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


May 9, 2018 14:00 HKT/SGT
Source: Showa Denko K.K.

Showa Denko K.K. (TSE: 4004)

Topic: Earnings
Sectors: Chemicals
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Showa Denko K.K.
Oct 3, 2018 14:00 HKT/SGT
Showa Denko Announces Early Repayment of Subordinated Loan
Sept 3, 2018 16:00 HKT/SGT
Showa Denko Develops New Shodex Analytical Column
Aug 8, 2018 14:00 HKT/SGT
Showa Denko Announces 1H 2018 Forecast and Results, Revises FY2018 Forecast
Aug 8, 2018 14:00 HKT/SGT
Showa Denko Announces 2Q 2018 Consolidated Financial Results
July 23, 2018 15:00 HKT/SGT
Showa Denko Included in Three ESG Indices for Consecutive Years
July 11, 2018 16:00 HKT/SGT
Showa Denko and Cinnamon to Develop AI-enabled Database System for Japanese Technical Documents
July 3, 2018 11:00 HKT/SGT
SDK Plans Third Expansion of High-Grade SiC Wafer Production Facilities in Two Years
June 11, 2018 13:00 HKT/SGT
Showa Aluminum Can completes Second Production Base in Vietnam
May 30, 2018 11:00 HKT/SGT
SDK supplies recycled 'low-carbon' gas for fuel cells at KAWASAKI TOKYU HOTEL
May 29, 2018 18:00 HKT/SGT
Showa Denko Forecasts Payment of Midterm Dividend
More news >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: