Asahi Kasei Reports Consolidated Results for 1st Quarter Fiscal 2007.Tokyo, Japan, July 31, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Asahi Kasei's consolidated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the quarter were JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 385.2 billion, an increase of JPY 36.7 billion (10.5%) from a year ago, with product prices for chemicals rising to compensate for increased feedstock feed·stock n. Raw material required for an industrial process. Noun 1. feedstock - the raw material that is required for some industrial process raw material, staple - material suitable for manufacture or use or finishing costs. Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. was JPY 25.9 billion, an increase of JPY 10.6 billion (69.4%). Ordinary profit was JPY 28.2 billion, an increase of JPY 13.2 billion (87.4%). Net income was JPY 18.1 billion, an increase of JPY 8.9 billion (96.7%). I. Summary of Consolidated Results
(millions of yen, unless otherwise specified)
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1. Operating results (% change from previous year in brackets)
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Q1 2007 Q1 2006
Net sales 385,170 [+10.5%] 348,483 [+6.0%]
Operating profit 25,919 [+69.4%] 15,297 [+12.4%]
Ordinary profit 28,235 [+87.4%] 15,064 [+3.2%]
Net income 18,066 [+96.7%] 9,184 [+76.8%]
Net income per share(y) 12.91 6.56
Diluted net income
per share(y) - -
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2. Financial position
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At end of June 2007 June 2006
Total assets 1,485,758 1,409,705
Net assets 666,016 601,712
Net worth/total assets 45.3% 42.2%
Net worth per share(y) 470.29 424.88
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3. Cash flows
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Nine months ended December Q1 2007 Q1 2006
Cash flows from
operating activities (10,716) (11,554)
Cash flows from
investing activities (14,374) (15,519)
Cash flows from
financing activities (15,105) 7,739
Cash and cash equivalents
at end of period 61,499 69,395
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Cash Dividends (Cash dividends per share)
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Fiscal year Q1 Q2 Q3 Q4 Total annual
2006 - 5.00 - 7.00 12.00
2007 (forecast) - 6.00 - 7.00 13.00
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II. Results by Operating Segment With the April 1, 2007, merger of Asahi Kasei Life & Living with Asahi Kasei Chemicals, the Life & Living segment was combined with the Chemicals segment. For comparison purposes, results for the year-ago period in the Chemicals segment have been revised to include those in the Life & Living segment. Chemicals Sales increased by JPY 28.3 billion (14.9%) from the first quarter a year ago to JPY 218.1 billion and operating profit increased by JPY 10.8 billion (170.1%) to JPY 17.2 billion. Operating profit from volume products operations increased, with strong overseas demand for acrylonitrile acrylonitrile /ac·ry·lo·ni·trile/ (ak?ri-lo-ni´tril) a colorless halogenated hydrocarbon used in the making of plastics and as a pesticide; its vapors are irritant to the respiratory tract and eyes, may cause systemic poisoning, and are , adipic acid a·dip·ic acid n. A white crystalline dicarboxylic acid, C6H11O4, that is derived from oxidation of various fats, slightly soluble in water and soluble in alcohol and acetone, and used especially in the manufacture of , and other chemicals and derivative derivative: see calculus. derivative In mathematics, a fundamental concept of differential calculus representing the instantaneous rate of change of a function. products. Operating profit from specialty products operations grew, with increased shipments of ion-exchange membranes to China. Homes Sales increased by JPY 3.7 billion (6.4%) from the first quarter a year ago to JPY 62.3 billion and the operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. decreased by JPY 0.9 billion to JPY 2.8 billion. Orders for order-built homes decreased by JPY 4.1 billion (4.9%) to JPY 79.6 billion. Order-built homes operations performed well, with higher unit prices for unit homes and increased deliveries of multi-dwelling homes. Operating profit from housing-related operations such as real estate and remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling increased. Pharma Sales increased by JPY 1.2 billion (4.5%) from the first quarter a year ago to JPY 27.2 billion and operating profit decreased slightly by JPY 0.1 billion (2.6%) to JPY 4.6 billion. Operating profit from devices operations grew, with increased shipments of APS(TM) polysulfone-membrane artificial kidneys artificial kidney: see kidney, artificial. and Planova(TM) virus removal filters. Profitability of pharmaceuticals operations was impacted by lower licensing income and higher R&D expenditures. Fibers Sales increased by JPY 5.3 billion (22.9%) from the first quarter a year ago to JPY 28.2 billion and operating profit increased by JPY 1.1 billion (a multiple of 3.1) to JPY 1.7 billion. Operating profit from elastic elastic Of or relating to the demand for a good or service when the quantity purchased varies significantly in response to price changes in the good or service. polyurethane polyurethane Any of a class of very versatile polymers that are made into flexible and rigid foams, fibres, elastomers (elastic polymers), surface coatings, and adhesives. filament filament, in astronomy: see chromosphere. operations increased, with a recovery of profitability of operations in Europe and the US and with strong overseas demand. Operating profit in Bemberg(TM) regenerated cellulose cellulose, chief constituent of the cell walls of plants. Chemically, it is a carbohydrate that is a high molecular weight polysaccharide. Raw cotton is composed of 91% pure cellulose; other important natural sources are flax, hemp, jute, straw, and wood. grew with increased exports. Elecgtronics Materials and Devices Sales increased by JPY 1.5 billion (5.4%) from the first quarter a year ago to JPY 29.2 billion and operating profit decreased by JPY 0.7 billion (10.3%) to JPY 5.8 billion. Electronics materials operations performed well, with increased shipments. Electronics devices operations were impacted by lower product prices for LSIs. Construction Materials Sales increased by JPY 0.5 billion (3.5%) from the first quarter a year ago to JPY 15.2 billion and operating profit increased slightly to JPY 1.1 billion. Hebel autoclaved lightweight concrete (ALC (Assembly Language Coding) A generic term for IBM mainframe assembly languages. 1. ALC - Assembly Language Compiler. 2. ALC - Airline Line Control. ) panels performed well. Sales from foundation systems operations increased, with generally healthy demand in construction markets. Services, Engineering and Others Sales decreased by JPY 3.8 billion (43.8%) from the first quarter a year ago to JPY 4.8 billion and operating profit decreased by JPY 1.1 billion (75.3%) to JPY 0.4 billion. Profitability of engineering operations declined as an effect of fewer deliveries of large overseas projects. III. Forecasts for Fiscal 2007 (April 1, 2007 - March 31, 2008) 1. Latest forecasts (percent change from results in year-ago period in brackets brackets: see punctuation. )
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First half Full year
Net sales 834,000 [+8.5%] 1,682,000 [+3.6%]
Operating profit 56,000 [+10.5%] 126,000 [−1.4%]
Ordinary profit 56,500 [+15.9%] 123,500 [−2.4%]
Net income 32,000 [+10.5%] 70,000 [+2.1%]
Net income per share(y) 22.87 50.04
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2. Comparison of previous and revised H1 2007 forecasts
(billions yen)
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Previous Revised Increase in cf.
H1 2007 H1 2007 H1 2007 H1 2006
forecast forecast forecast results
Net sales 8,020 8,340 320 7,689
Operating profit 500 560 60 507
Ordinary profit 495 565 70 488
Net income 255 320 65 290
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3. Annual forecast
(billions yen)
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FY 2007 forecast cf. FY 2006 results
Net sales 16,820 16,238
Operating profit 1,260 1,278
Ordinary profit 1,235 1,265
Net income 700 686
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Notes: - Performance forecasts are based on the best information available at this time, but actual results may diverge diverge - If a series of approximations to some value get progressively further from it then the series is said to diverge. The reduction of some term under some evaluation strategy diverges if it does not reach a normal form after a finite number of reductions. from these forecasts due to a variety of factors which cannot be foreseen fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. . - The forecast for the first half of fiscal 2007 announced on May 8, 2007 has been revised. - A revision of the forecast for the full year will be made when first half results are announced. Please download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. the Asahi Kasei full year financial summary at http://www.asahi-kasei.co.jp/asahi/en/ir/summary/June2007.pdf About Asahi Kasei Corp. Asahi Kasei provides innovative solutions based in chemistry and materials science materials science Study of the properties of solid materials and how those properties are determined by the material's composition and structure, both macroscopic and microscopic. to a diverse range of markets including fibers, chemicals, consumer products, housing, construction, electronics, and health care. With consolidated sales of some US$10 billion, it is a Fortune Global 500 enterprise with twenty-five thousand employees and one hundred consolidated subsidiaries. The operating configuration comprises seven core operating companies operating company A business that engages in transactions with outsiders. as autonomous business units specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in separate business fields. Asahi Kasei Corporation, as the parent company, functions as a holding company for group operations. An Independent Businesses Group provides group services. For more information, please visit www.asahi-kasei.co.jp. Source: Asahi Kasei Corp. Contact: Asahi Kasei Corporation Corporate Communications Phone: +81-3-3507-2060 Fax: +81-3-3507-2495 Japan Corporate News Network. All rights reserved. |
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