Results Briefing Materials for the First Half of the Fiscal Year Ending March 2027 | CHUBU SHIRYO CO.,LTD. (2053) timely disclosure

Worth reading

59In focus

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Direction

Mixed performance

Direction inferred from the company’s description.

Scale

587

Millions of yen (year-on-year increase in operating profit)

Wording

Conditional

How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFirst half of the fiscal year ending March 202711 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥112,788 million+9.5%

Operating profit¥3,001 million+24.3%

Ordinary income¥3,384 million+24.2%

Net income¥4,824 million+131.6%

Full-year earnings forecast

Net Sales

¥221,000 million

Operating profit

¥5,900 million

Ordinary income

¥6,200 million

Segment profit

¥10,100 million

Net income for the current fiscal year

¥6,900 million

Capital expenditures

¥3,900 million

Depreciation and amortization

¥3,300 million

Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。

Net Sales51.0%

Feed sales50.7%

Other net sales54.6%

Operating profit50.9%

Ordinary income54.6%

Segment profit70.3%

Segment profit adjusted for gains on sales of real estate57.1%

Feed segment profit50.9%

Other segment profit69.3%

Adjustments104.2%

Net income for the current fiscal year69.9%

Net income adjusted for gains on sales of real estate56.4%

Capital expenditures45.2%

Depreciation and amortization45.6%

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

Sales volume of feed, the raw-material position and profit from other segments met the plan. The differentiated-feed ratio, variable-cost unit prices, fixed costs and aquatic-feed profit margin either fell short of the plan or are expected to fall below the full-year plan.

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Lower sales volume of livestock feed-¥80 million
Lower ratio of differentiated feed-¥20 million
Improvement in raw material positions+¥1.21 billion
Higher variable costs, including fund contributions and other costs, and the impact of electricity and fuel costs and unit prices-¥130 million
Higher fixed costs for livestock feed–¥180 million
Lower profit from aquatic feed–¥260 million
Other+¥50 million

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Raw-material prices, foreign exchange rates, ocean freight rates, the situation in the Middle East, the end of electricity and fuel subsidies, fishmeal prices and other factors are listed as drivers of change, but the numerical assumptions underlying the full-year outlook are Not disclosed

New initiatives

Established 中部飼料（海南）有限公司 in China
Transferred the equity interest in 三通中部飼料（山東）有限公司 to the SANTSU Group
Transferred all shares of みらい飼料株式会社 to 伊藤忠飼料
Resolved to acquire up to 1.1 million treasury shares for up to ¥2.6 billion
Interim dividend of ¥38, annual dividend of ¥76 and DOE of 3.0% planned

Key KPIsA metric the company considers important as a management benchmark.

Livestock feed sales volume99.1% year on year
Sales volume of environmentally friendly feed143 Index first half of FY2024/3 = 100
Differentiated feed as a percentage of sales44.9 %
Aquatic feed sales volume132.2% year on year
Sales volume of environmentally friendly aquatic feed174 Index first half of FY2024/3 = 100
Individual shareholders10,840 People
Greenhouse Gas Emissions49.8 thousand t-CO2

Segment results

Feed

Net Sales

¥101,858 million+8.4%

Segment profit

¥2,898 million+14.6%

Other

Net Sales

¥10,929 million+20.9%

Segment profit

¥762 million+57.4%

Adjustments

¥3,439 million

yoy_change3,501

Financial targets

Actual results of an equity ratio of 68.0% and a DE ratio of 0.09x are provided, but financial targets are Not disclosed

Market Size / Share

Market-distribution trends are provided, including April–September livestock-feed market distribution volume of 100.3% year on year, but market share is Not disclosed

Capital expenditures

¥1,764 million

Annual Dividend

¥76 /share

Interim38

End of period38

Acquisition of treasury shares

¥2.6 billion

Number of SharesMaximum of 1.1 million shares

Contents of this document
Item	Details
Document type	Presentation materials for financial results
Fiscal Period Covered	First half of the fiscal year ending March 2027
Net Sales	¥112,788 million (YoY +9.5%)
Operating profit	¥3,001 million (YoY +24.3%)
Ordinary income	¥3,384 million (YoY +24.2%)
Net income	¥4,824 million (YoY +131.6%)
Full-year earnings forecast	Net Sales ¥221,000 million / Operating profit ¥5,900 million / Ordinary income ¥6,200 million / Segment profit ¥10,100 million / Net income for the current fiscal year ¥6,900 million / Capital expenditures ¥3,900 million / Depreciation and amortization ¥3,300 million
Progress against full-year forecast	Net Sales 51.0% / Feed sales 50.7% / Other net sales 54.6% / Operating profit 50.9% / Ordinary income 54.6% / Segment profit 70.3% / Segment profit adjusted for gains on sales of real estate 57.1% / Feed segment profit 50.9% / Other segment profit 69.3% / Adjustments 104.2% / Net income for the current fiscal year 69.9% / Net income adjusted for gains on sales of real estate 56.4% / Capital expenditures 45.2% / Depreciation and amortization 45.6%
Self-assessment against the plan	Sales volume of feed, the raw-material position and profit from other segments met the plan. The differentiated-feed ratio, variable-cost unit prices, fixed costs and aquatic-feed profit margin either fell short of the plan or are expected to fall below the full-year plan.
Segment results	Feed Net Sales ¥101,858 million (YoY +8.4%) / Segment profit ¥2,898 million (YoY +14.6%) / Other Net Sales ¥10,929 million (YoY +20.9%) / Segment profit ¥762 million (YoY +57.4%) / Adjustments ¥3,439 million
Breakdown of Factors Affecting the Change	Factors Lower sales volume of livestock feed / Amount -¥80 million, Factors Lower ratio of differentiated feed / Amount -¥20 million, Factors Improvement in raw material positions / Amount +¥1.21 billion, Factors Higher variable costs, including fund contributions and other costs, and the impact of electricity and fuel costs and unit prices / Amount -¥130 million, Factors Higher fixed costs for livestock feed / Amount –¥180 million, Factors Lower profit from aquatic feed / Amount –¥260 million, Factors Other / Amount +¥50 million
Key KPIs	Indicator name Livestock feed sales volume / Value 99.1% year on year, Indicator name Sales volume of environmentally friendly feed / Value 143 Index (first half of FY2024/3 = 100), Indicator name Differentiated feed as a percentage of sales / Value 44.9 %, Indicator name Aquatic feed sales volume / Value 132.2% year on year, Indicator name Sales volume of environmentally friendly aquatic feed / Value 174 Index (first half of FY2024/3 = 100), Indicator name Individual shareholders / Value 10,840 People, Indicator name Greenhouse Gas Emissions / Value 49.8 thousand t-CO2
Assumptions Underlying the Business Outlook	Raw-material prices, foreign exchange rates, ocean freight rates, the situation in the Middle East, the end of electricity and fuel subsidies, fishmeal prices and other factors are listed as drivers of change, but the numerical assumptions underlying the full-year outlook are Not disclosed
Financial targets	Actual results of an equity ratio of 68.0% and a DE ratio of 0.09x are provided, but financial targets are Not disclosed
Annual Dividend	¥76 /share
Acquisition of treasury shares	Number of Shares Maximum of 1.1 million shares / Amount ¥2.6 billion / Period Not disclosed
Capital expenditures	¥1,764 million
Market Size / Share	Market-distribution trends are provided, including April–September livestock-feed market distribution volume of 100.3% year on year, but market share is Not disclosed
New initiatives	Established 中部飼料（海南）有限公司 in China, Transferred the equity interest in 三通中部飼料（山東）有限公司 to the SANTSU Group, Transferred all shares of みらい飼料株式会社 to 伊藤忠飼料, Resolved to acquire up to 1.1 million treasury shares for up to ¥2.6 billion, Interim dividend of ¥38, annual dividend of ¥76 and DOE of 3.0% planned

Items this document does not state (12)

Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsPayout ratioOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Value-added sales based on raw-material price trends, the use of competitively priced raw materials such as new animal-based materials, and improved yields through optimization of manufacturing and processing conditions improved the raw-material position, lifting profit by ¥1.21 billion. Increased extraordinary gains, including gains on real estate sales, also contributed to a substantial increase in net income. On the other hand, lower sales volumes of livestock feed, a lower ratio of differentiated feed, higher variable and fixed costs, and lower margins on aquatic feed weighed on profit.

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