Shikoku Kasei Holdings Corporation

4099

JP3349600001

Commodity Chemicals

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-07-12 am EDT			5-day change	1st Jan Change
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May. 28	Shikoku Kasei's Profit Rises 3% in Q1	MT
Mar. 08	Shikoku Kasei’s Attributable Profit Rises 11% in 2023	MT

Shikoku Chemicals : Financial Results for the FY2021

April 27, 2021 at 02:15 am EDT

Financial Results for the FY2021

（April 1, 2020-March 31, 2021）

April 27, 2021

Code number：4099

Contents

Corporate Profile	･･･	3
Highlights of Financial Results for FY2021	･･･	4
Financial Results Trend (consolidated and full-year)	･･･	5
Sales Trends by Region	･･･	6
Financial Results Trend (consolidated and quarter)	･･･	7
Financial Results (consolidated and quarter)	･･･	8
Assets (consolidated)	･･･	9
Liabilities, and a total equity (consolidated)	･･･	10
Cash Flow Overview (consolidated)	･･･	11
Capital investment, Depreciation, R&D expenses (consolidated)	･･･	12
Forecast for FY2022 (consolidated)	･･･	13
Sales and Profit by Business segments	･･･	14～16
Chemicals operations segment	･･･	17～18
Housing Materials operations segment	･･･	19～20

Copyright © SHIKOKU CHEMICALS CORPORATION			www.shikoku.co.jp

Corporate Profile
▼Company overview
■ Company name	SHIKOKU CHEMICALS CORPORATION
■ Incorporated	October 10, 1947
	The Company was established in Marugame, Kagawa Prefecture, as a producer of
	carbon disulfide.
■ Lines of Business	〔Chemical operations〕Inorganic Chemicals, Organic Chemicals, Fine Chemicals
	〔Housing Materials operations〕Interior, Exterior Finishes and Paving Materials,
	Home Exterior Products,Decorative Exterior Products
■ R&D,Plant Facilities	1 R&D,7 Plants
■ Directory	〔Japan〕2 branches,7 sales offices	〔Overseas〕U.S.A,China(Shanghai,Shenzhen),
	Taiwan,Shingapore
■ Capital	6,867 million yen
■ Number of employees Consolidated 1,194 Non-Consolidated 618（As of March 31,	2021）
▼Share of stock
■ Issued Shares	55 million shares
■ Number of Shareholders 4,136（As of March 31, 2021）
▼SHIKOKU CHEMICALS CORPORATION Group
〔Japan〕10 consolidated subsidiaries
〔Overseas〕one consolidated subsidiary and one unconsolidated subsidiary
SHIKOKU INTERNATIONAL CORPORATION	SHIKOKU KEIZAI CORPORATION
Nippon Ryutan Kogyo Co., Ltd.	SHIKOKU KEIZAI KANTO CORPORATION
Shikoku Environmental Business Company	NIHON KOHKI CORPORATION
Shikoku Analytical Laboratories	SHIKOKU SYSTEM KOHBOH CORPORATION
SHIKOKU KOSAN CORPORATION	Shikoku Foods & Trading Company
		Shikoku Foods & Insurance Service Co., Ltd.
		Shikoku (Shanghai) Co., Ltd.	3

Highlights of Financial Results for FY2021

Net sales Operating Income Ordinary income

Net income attributable to owners of the parent

Exchange rate (USD) Exchange rate (EUR)

					(Millions of yen)
FY2020
FY2021	Increase of	Changes
Amount	Percentage	Amount	Percentage	amount

51,564	100.0%	49,590	100.0%	▲ 1,973	▲3.8%
7,848	15.2%	7,401	14.9%	▲ 447	▲5.7%
8,022	15.6%	7,997	16.1%	▲ 24	▲0.3%
5,610	10.9%	5,760	11.6%	149	2.7%
109		106
122		122

The exchange rates given above are average rates for the period from April to March.

www.shikoku.co.jp

Financial Results Trend (consolidated and full-year)

(Millions of yen)

60,000
								52,813	51,564		Net sales
							50,791
					50,246			49,590
				49,153	49,467

50,000
		47,044

	40,865	42,502									Operating

					15.9%					income
40,000					15.9%	16.1%
							15.2%	15.2%	14.9%	margin

		12.4%	13.0%	12.4%
	12.0%
30,000
										Cost of

											sales
					29,902	29,236	29,917	31,681	30,479	29,506
								Selling,
20,000			29,452	31,296
								general
		27,087
	25,925									and
					12,371	12,375	12,706	13,083	13,236	12,682	adminis-
					trative
			11,477	11,750
10,000	10,020	10,152							expenses

											Operating
			6,113	6,106	7,973	7,855	8,167	8,049	7,848	7,401	income
	4,919	5,262

0
	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021
											5

www.shikoku.co.jp

Sales Trends by Region

(Millions of yen)	34.4%	33.7%
20,000
33.0%	32.6%

	29.0%	16,924	16,922	30.3%	30.2%

16,000	26.5%	15,536	16,126	15,397	15,943

		5,402	5,600
	12,318	4,780	5,811	4,666	5,593
12,000	10,821

4,011

3,394

8,000

9,621	9,133	8,100	7,982	7,856
9,484

4,000 6,600 7,457

Outside

Japan Sales

30.3%Ratio

28.7%	Total

14,815	15,004

North

5,564 5,943 America

Asia

7,320 7,319

Others

			1,271	1,900	2,188	2,215	2,748	2,494	1,931	1,741
	826	850
0


	FY2012	FY2013	FY2014	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021

Exchange rate	79	82	100	109	121	108	111	111	109	106
(USD)

Exchange rate	110	106	132	139	133	120	128	129	122	122
(EUR)

www.shikoku.co.jp

Financial Results Trend (consolidated and quarter)

(Millions of yen)												Net sales
15,000
			13,894
			13,789				13,404				13,566

					12,823	12,869						Operating
	12,364	12,765			12,466				12,615
							income
								11,816
12,000									11,592		18.5%	margin
									18.1%
		18.0%

					16.0% 17.0%
				15.3%
		14.8%
				13.5% 14.3%
9,000	12.5%							11.4%

								10.9%
												Cost of

													sales
6,000		7,740	8,017	8,317	7,777	7,768	7,222	7,711			7,232	7,699	Selling,

	7,606
								7,179	7,396			general

													and
			3,296	3,444				3,408			3,104	3,354	adminis-
		3,133		3,317	3,263	3,247				trative
3,000	3,208								expenses
				3,151	3,072


													Operating
	1,549	1,891	2,475	2,131	1,729	1,837	1,996	2,284	1,262	1,347	2,279	2,513	income
0

	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
		FY2019			FY2020			FY2021		7

Copyright © SHIKOKU CHEMICALS CORPORATION	www.shikoku.co.jp

Financial Results	(consolidated and quarter)

(Millions of yen)

FY2021

year-on year	year-on year	year-on year	year-on year
changes	changes	changes	changes

Net sales	11,592	▲ 1,231	11,816	▲ 1,053	12,615	148	13,566	162
			(▲9.6%)			(▲8.2%)			(+1.2%)	(+1.2%)

Operating income	1,262	▲ 467	1,347	▲ 490	2,279	282	2,513	228
(▲27.0%)	(▲26.7%)	(+14.1%)	(+10.0%)

Ordinary income	1,441	▲ 341	1,380	▲ 462	2,383	248	2,791	530
(▲19.2%)	(▲25.1%)	(+11.7%)	(+23.5%)

Net income attributable	946	▲ 263	977	▲ 346	1,987	494	1,848	265
to owners of the parent	(▲21.8%)	(▲26.2%)	(+33.1%)	(+16.8%)

year-on year

changes

49,590	▲ 1,973
(▲3.8%)

7,401	▲ 447
(▲5.7%)

7,997	▲ 24
(▲0.3%)

5,760	149
(+2.7%)

www.shikoku.co.jp

Assets (consolidated)

(Millions of yen)

120,000

100,000

80,000

60,000

40,000

20,000

82,933

22,817

14,858

7,637

237

20,273

17,109

90,417

27,872

15,451

8,389

177

19,695

18,829

92,191

26,641

16,646

3,800

9,440

309

19,515

15,839

100,896

26,607

15,152

11,000

10,060

282

19,315

18,477

107,344

25,907

15,315

13,999

9,330

470

21,492

20,827

Total assets

Cash and deposits

Accounts receivable

Securities

Inventories

Other current assets

Tangible fixed assets

Intangible fixed assets and Investment and other assets

	FY2017	FY2018	FY2019	FY2020	FY2021

ＲＯＡ（％）	7.3％	7.6%	5.9%	5.8％	5.5%	9

Liabilities, and a total equity (consolidated)

(Millions of yen)

120,000

100,000

80,000

60,000

40,000

20,000

82,933

7,489

2,064 5,560 1,562 4,753

61,503

90,417

8,174

2,050 5,849 1,520 4,793

68,029

	100,896
92,191	6,945
	3,423
8,870	7,378
2,844	7,157
4,992
680	4,343
4,432

70,370

71,647

		Total liabilities
107,344	and equity
Notes and accounts

6,940		payable-trade
2,604		Short-term and

6,157		Current portion of

10,957	long-term loans
4,118		payable
	Other current

		liabilities
		Long-term loans
		payable
		Other non-
76,566	current liabilities
Total equity

FY2017

FY2018

FY2019

FY2020

FY2021

ROE（％）

interest-bearing debt （millions of yen）

net interest-bearing debt （millions of yen）

Ratio of equity attributable to owners of the Parent (%)

10.1	10.3	7.9	8.0	7.9

3,853	3,806	3,768	10,838	13,834

▲ 18,963	▲ 24,066	▲ 22,872	▲15,769	▲12,072

73.4	74.4	75.5	70.2	70.5	10

www.shikoku.co.jp

Cash Flow Overview (consolidated)

(Millions of yen)

10,000

8,000

6,000

4,000

2,000

2,000
4,000
6,000

	9,676	Operating

		activities
7,100	7,385	7,411

5,984	Free cash flow

5,529
3,661	4,411

		1,810
			1,367	Investing

				activities
▲ 3,438				▲ 2,999
	▲ 4,146
		▲ 4,174
			▲ 6,018
FY2017	FY2018	FY2019	FY2020	FY2021

www.shikoku.co.jp

Capital investment, Depreciation, R&D expenses (consolidated)

(Millions of yen)

6,000 5,000 4,000

Capital investment

3,000 2,000 1,000 0

Depreciation

R&D expenses

FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
					Forecast

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
	Forecast

Capital	3,815	1,628	2,073	1,961	4,106	5,873
investment


Depreciation	1,645	2,318	2,281	2,189	1,835	2,319

R&D	1,235	1,310	1,295	1,338	1,207	1,594
expenses	12

www.shikoku.co.jp

Forecast for FY2022 (consolidated)

Net sales

Operating Income

Ordinary income

Net income attributable to owners of the parent

		(millions of yen)
FY2021	FY2022	Increase	Changes
（Forecast） of amount

49,590 51,500 1,910 3.9%

7,401

8,000

599

8.1%

7,997

8,300

303

3.8%

5,760

6,000

240

4.2%

*Assumed exchange rates are as follows:

105 yen per U.S. dollar, and 128 yen per euro.

Sales and Profit by Business segments

■ Sales amount

Others

constituent ratio

979(2.0%)

(Millions of yen)

Exterior

Inorganic

Housing

Products

Chemicals

Chemical

Materials

17,285(34.9%)

10,435(21.0%）

operations

18,760(37.8%)

FY2021

29,850(60.2％)

Consolidated

Net sales

49,590

Organic

Interior, Exterior

Chemicals

Finishes and Paving

10,709(21.6%)

■ Segment information

Materials

(Millions of yen)

1,475(3.0%)

Fine Chemicals

Increase of

FY2020

FY2021

Changes

8,705(17.6%)

amount

Net sales

Chemical operations

30,150

29,850

▲ 299

▲1.0%

Housing Materials

20,619

18,760

▲ 1,858

▲9.0%

operations

Segment profit

Chemical operations

5,656

5,664

0.1%

Housing Materials

3,966

3,505

▲ 460

▲11.6%

operations

Sales and Profit by Business segments

(consolidated and full-year)

(Millions of yen)
14,000	21.2%	21.4%

			19.9%	19.2%	19.0%
12,000
	17.8%
	17.5%	17.5%

				18.8%	18.7%
10,000
8,000
	6,439	6,573	6,338	5,656	5,664
6,000

4,000
2,000	3,239	3,449	3,527	3,966	3,505

0
	FY2017	FY2018	FY2019	FY2020	FY2021

www.shikoku.co.jp

Chemical segment profit rate

Housing Materials segment profit rate

Chemical segment profit

Housing

Materials segment profit

Chemical operations net sales	30,325	30,701	31,879	30,150	29,850
Housing Materials operations net	18,468	19,376	20,124	20,619	18,760
sales

Chemical segment profit	6,439	6,573	6,338	5,656	5,664
Housing Materials segment profit	3,239	3,449	3,527	3,966	3,505	15

Sales and Profit by Business segments

(consolidated and quarter)

														Housing
(Millions of yen)													Materials
4,000									23.6%			22.9%	23.1%	segment
										profit rate


			21.7%
	19.7%	20.3%		20.7%	20.4%						22.5%
				19.3%	18.3%		19.2%				Chemical

3,000			20.7%					16.9%			segment
							19.8%
									profit rate
				17.8%				18.3%	15.5%
					17.2%


		15.5%		14.6%

2,000											14.3%
									13.8%			Chemical

														segment
	10.8%													profit

1,000														Housing

														Materials
														segment
														profit
0
	1Q	2Q	3Q	4Q	1Q	2Q	3Q		4Q	1Q	2Q	3Q	4Q
		FY2019			FY2020				FY2021
Chemical operations	8,024	8,132	7,988	7,734	7,854	7,885	7,092	7,317	7,051	7,245	7,686	7,867
net sales

Housing Materials	4,193	4,350	5,593	5,986 4,821 4,772 5,137 5,888	4,362	4,349	4,644	5,404
operations net sales
Chemical segment profit	1,577	1,652	1,731	1,377	1,514	1,440	1,362	1,338	1,093	1,038	1,761	1,771
Housing Materials segment	452	673	1,160	1,241	704	822	1,048	1,390	601	735	919	1,249	16
profit

www.shikoku.co.jp

Chemicals operations segment

(Millions of yen)		【 Main products 】

Inorganic Chemicals		Insoluble sulfur

10,435(21.0%）
		Vulcanizing agent for rubber


FY2021	■	Carbon Disulfide
	Sodium Sulfate
Consolidated	■
	Sodium carbonate
Chemical operations		■
Net sales		【 Main products 】
29,850

Organic Chemicals		 Cyanuric acid derivatives

10,709(21.6%)
			for swimming pool and
Fine Chemicals
	septic tank disinfectants
8,705(17.6%)

Hipolka

Main products 】

Glicoat-SMD

Heat-resistant OSP (Organic Solderability Preservative) for printed wiring boards

 Imidazoles
Imidazole derivatives for an epoxy resin
curing agent and a raw material for
pharmaceuticals and other applications;
modifiers for high-added-value resins	17
■ THEIC

www.shikoku.co.jp

Sales Trend of Chemical operations

(consolidated and quarter)

(Millions of yen)

9,000
8,000											Fine

											Chemicals
7,000
6,000
5,000											Organic
										Chemicals
4,000
3,000
2,000											Inorganic
											Chemicals
1,000
0
1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	４Q
	FY2019			FY2020			FY2021

Fine Chemicals	2,044	2,190	2,188	1,790	1,844	2,148	2,159	1,937	1,984	1,898	2,303	2,520
Organic Chemicals	2,839	2,707	2,450	2,761	2,859	2,659	1,948	2,679	2,877	2,867	2,444	2,520
Inorganic Chemicals	3,140	3,233	3,350	3,183	3,149	3,077	2,984	2,700	2,189	2,479	2,939	2,826

Copyright © SHIKOKU CHEMICALS CORPORATION				www.shikoku.co.jp

	Housing Materials operations segment
							(Millions of yen)
		【Main products】			Exterior Products
		 Home Exterior Products				17,285(34.9%)

					FY2021

		gates, fences , garage and accordion gate
					Consolidated
		 Decorative Exterior Products
					Housing Materials
		large gates and fences, shelter, bicycle parking, garbage				operations net
		collection container and Greening system				sales
					Interior, Exterior 18,760
		【Main products】
		Finishes and Paving
		 Interior, Exterior Finishes and Paving Materials				Materials

			1,475(3.0 %)

large gates	Interior	"Fun roof" （ terrace ） 19

Sales Trend of Housing Materials operations

(consolidated and quarter)

(Millions of yen)

7,000

6,000

5,000

4,000

3,000

2,000

1,000

Exterior Products

Interior, Exterior

and Paving Materials

Exterior

Products

Interior, Exterior Finishes and Paving Materials

1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q
		FY2019			FY2020			FY2021
3,746		3,926		5,147		5,547	4,401
			4,355	4,705	5,492	4,007	3,994	4,247	5,037
446		423		446		438	419	417	431	396	355	355	397	367

Copyright © SHIKOKU CHEMICALS CORPORATION	www.shikoku.co.jp

Contact Information

Corporate planning department,

Shikoku Chemicals Corporation

TEL：+81-(0)877-21-4119

FAX：+81-(0)877-22-4119

www.shikoku.co.jp/

[Note regarding this document]

Forward-looking statements or projections mentioned in this document, including earnings are based on currently available information and actual results may differ from the projection due to various factors.

Further, the purpose of this material is to provide information to the investors, and not to serve as a recommendation to buy or to sell. Please note that Shikoku Chemical Corporation will not be responsible for the consequences of investments etc.

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Shikoku Chemicals Corporation published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 06:14:01 UTC.

Latest news about Shikoku Kasei Holdings Corporation

Shikoku Kasei's Profit Rises 3% in Q1	May. 28	MT
Shikoku Kasei’s Attributable Profit Rises 11% in 2023	Mar. 08	MT
Shikoku Kasei Holdings Corp. Provides Consolidated Earnings guidance for the Fiscal Year Ending December 31, 2024	Mar. 08	CI
Shikoku Chemicals Corporation Announces Dividend for the Year Ended December 31, 2023, Payable on March 7, 2024	Mar. 08	CI
Shikoku Chemicals Corporation Provides Dividend Guidance for the Second Quarter and Full Year Ended December 31, 2024	Mar. 08	CI
Tranche Update on Shikoku Kasei Holdings Corporation's Equity Buyback Plan announced on February 28, 2024.	Feb. 28	CI
Shikoku Kasei Holdings Corp's Equity Buyback announced on February 28, 2024, has closed with 5,891,100 shares, representing 11.62% for ¥10,221.06 million.	Feb. 28	CI
Shikoku Kasei Holdings Corp announces an Equity Buyback for 6,200,000 shares, representing 12.23% for ¥10,757 million.	Feb. 28	CI
Shikoku Kasei Holdings Corp authorizes a Buyback Plan.	Feb. 27	CI
Tranche Update on Shikoku Kasei Holdings Corp's Equity Buyback Plan announced on October 26, 2023.	23-10-26	CI
Shikoku Kasei Holdings Corp's Equity Buyback announced on October 26, 2023, has closed with 110,000 shares, representing 0.22% for ¥179.96 million.	23-10-26	CI
Shikoku Kasei Holdings Corp announces an Equity Buyback for 200,000 shares, representing 0.39% for ¥327.2 million.	23-10-26	CI
Shikoku Kasei Holdings Corp authorizes a Buyback Plan.	23-10-25	CI
Shikoku Kasei Holdings Corp Announces Dividend for the Second Quarter for the Fiscal Year Ending December 31 2023, Payable on September 5,2023; Provides Dividend for the Fiscal Year Ending December 31 2023	23-08-10	CI
Shikoku Kasei Holdings Corp Provides Earnings Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2023	23-08-10	CI
Tranche Update on Shikoku Kasei Holdings Corp's Equity Buyback Plan announced on May 30, 2023.	23-05-30	CI
Shikoku Kasei Holdings Corp's Equity Buyback announced on May 30, 2023, has closed with 2,102,900 shares, representing 3.99% for ¥3,038.69 million.	23-05-30	CI
Shikoku Kasei Holdings Corp announces an Equity Buyback for 2,300,000 shares, representing 4.35% for ¥3,323.5 million.	23-05-30	CI
Shikoku Kasei Holdings Corp authorizes a Buyback Plan.	23-05-29	CI
Shikoku Chemicals Corporation Provides Consolidated Earnings Guidance for the Year Ended December 31, 2023	23-05-16	CI
Shikoku Chemicals Corporation Provides Dividend Guidance for the Second Quarter and Full Year Ended December 31, 2023	23-05-16	CI
Shikoku Kasei Holdings Corp Reports Earnings Results for the First Quarter Ended March 31, 2023	23-04-27	CI
Shikoku Chemicals Corporation Provides Dividend Guidance for the Second Quarter and Full Year Ended December 31, 2023	23-02-16	CI
Shikoku Chemicals Corporation Provides Consolidated Earnings Guidance for the Year Ended December 31, 2023	23-02-16	CI
Shikoku Chemicals Corporation Provides Dividend Guidance for the Second Quarter and Full Year Ended December 31, 2022	22-11-04	CI

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Company Profile

Shikoku Kasei Holdings Corp, former Shikoku Chemicals Corp, is a Japan-based company engaged in the research and development, production and sale of chemical industrial chemicals and pharmaceuticals as well as housing, landscape and store-related products, as well as operates environmental businesses related to sterilization and water treatment, and information system businesses. The Company operates in two segments. The Chemicals segment includes inorganic chemical products including carbon disulfide, anhydrous sodium sulfate, and insoluble sulfur, organic chemical products including chlorinated isocyanuric acid, wastewater treatment agents, water-soluble rust inhibitors for printed wiring boards, fine chemicals including imidazoles. The Building Materials segment provides wall materials, including interior and exterior wall materials and paving materials, as well as exteriors, including gates, fences, garages and shutters.

Sector

Commodity Chemicals

Calendar

2024-07-29 - Q2 2024 Earnings Release

More about the company

Income Statement Evolution

More financial data

Ratings for Shikoku Kasei Holdings Corporation

Trading Rating

Investor Rating

ESG Refinitiv

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,256 JPY

Average target price

2,900 JPY

Spread / Average Target

+28.55%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Commodity Chemicals

	1st Jan change	Capi.
SHIKOKU KASEI HOLDINGS CORPORATION	+25.68%	639M
AIR LIQUIDE	+3.74%	104B
SABIC	-10.18%	59.99B
PT CHANDRA ASRI PACIFIC TBK	+80.95%	50.92B
WANHUA CHEMICAL GROUP CO., LTD.	+8.46%	36.09B
LYONDELLBASELL INDUSTRIES N.V.	-0.02%	30.95B
WESTLAKE CORPORATION	+4.78%	18.85B
NINGXIA BAOFENG ENERGY GROUP CO., LTD.	+18.14%	17.61B
HENGLI PETROCHEMICAL CO.,LTD.	+9.26%	13.97B
SOLAR INDUSTRIES INDIA LIMITED	+78.32%	13B

Other Commodity Chemicals

Shikoku Kasei Holdings Corporation

Equities

4099

JP3349600001

Commodity Chemicals

Shikoku Chemicals : Financial Results for the FY2021

EPS Revisions