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Wednesday, 8 August 2018, 14:00 HKT/SGT
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Source: Showa Denko K.K.
Showa Denko Announces 1H 2018 Forecast and Results, Revises FY2018 Forecast

TOKYO, Aug 8, 2018 - (JCN Newswire) - Showa Denko (SDK ; TSE:4004) hereby announces that there is a difference between the forecast of consolidated financial results for the first half (January 1 - June 30) of 2018 announced on May 9, 2018 and actual financial results for the same period announced today. In addition, SDK revises forecast of consolidated financial results for FY2018, taking the latest business trends into consideration.

1. Difference between the forecast of consolidated financial results for the first half (January 1 - June 30) of 2018 and actual financial results for the same period

[Difference between the forecast and actual results]
(Millions of yen, excepting net income attributable to owners of the parent per share)
-----------------------------------------------------------
Net sales  Operating  Ordinary  Net income    
        Net income attributable the parent per share (y)
-----------------------------------------------------------
Prev forecast (A)  (May 9, 2018)
  452,000   68,000    64,500    43,000   294.81
Actual results (B) (Aug 8, 2018)
  455,845   78,084    77,791    58,132   398.56
(B) - (A)
    3,845   10,084    13,291    15,132
Percentage of change 
     0.9%    14.8%     20.6%     35.2%
Ref: Results for H1 2017
  372,193   35,027    22,238     7,837    54.98
-----------------------------------------------------------
Reasons for the difference between the forecast and actual results

Net sales exceeded the previous forecast. In the Petrochemicals segment, prices of products including ethylene were higher than expected because of a rise in the price of raw naphtha. In the Inorganics segment, the condition of global graphite electrode market was stronger than expected.

Operating income in the Inorganics segment was higher than the previous forecast because market prices of graphite electrodes were higher than expected. Operating incomes in the Petrochemicals, Aluminum, and Others segments were also higher than those in the previous forecast due mainly to strong demand for products.

As a result, actual 1H 2018 ordinary income and net income attributable to owners of the parent also exceeded the previous forecast.

2. Revised forecast of consolidated financial results for FY2018 (January - December)
(Millions of yen, excepting net income attributable to owners of the parent per share)
-----------------------------------------------------------
Net sales  Operating  Ordinary  Net income    
        Net income attributable the parent per share (y)
-----------------------------------------------------------
Previous forecast (A) (May 9, 2018)
  935,000   137,000   131,500   85,000   577.45
Revised forecast (B) (Aug 8, 2018)
  985,000   170,000   167,000  115,000   781.27
(B) - (A) 
   50,000    33,000    35,500   30,000
Percentage of change 
     5.3%     24.1%     27.0%    35.3%
Ref: Results for  FY 2017
  780,387    77,818    63,962   33,470    234.84
-----------------------------------------------------------
Reasons for the revision of consolidated performance forecast

Net sales in the Inorganics segment will exceed those in the previous forecast because the global market prices of graphite electrodes are expected to be higher than those in the previous forecast. Net sales in the Petrochemicals segment will exceed those in the previous forecast due mainly to the rise in prices of major products including ethylene.

Overall operating income will exceed the previous forecast. Though operating income in the Electronics segment will be lower than the previous forecast, operating income in the Inorganics segment will be much higher than the previous forecast due to the rises in prices of graphite electrodes in the global market. Operating income in the Others segment will also be higher than the previous forecast.

As a result, ordinary income and net income attributable to owners of the parent for full-year 2018 will also be higher than the previous forecast.


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:
Contact:
Public Relations Office
Phone: 81-3-5470-3235


Aug 8, 2018 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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