Latest Financial Results

Latest Financial Results

(Millions of Yen)

2020/12 2021/12 Year on Year
Orders received 27,448 38,752 41.2%
Net sales 26,526 28,131 6.1%
Operating profit 1,330 1,172 -11.9%
Ordinary profit 1,491 1,386 -7.0%
Profit attributable to owners of parent 943 834 -11.6%

During the nine months ended December 31, 2021, the Japanese economy saw economic activity increasingly return to normal, supported by broad distributing COVID-19 vaccinations, in addition to a recovery trend in the Chinese, Europe and U.S. economies. However, concerns emerged about the economic impact of surging prices for raw materials and supplies and shortages in semiconductor and electronic components, disruptions to logistics networks and, furthermore, the outbreak of a new variant strain in Japan.
Among the Group’s main customers, investments were strong in relation to electronics, and automobile-related investments were also firm, underpinned by digitization and decarbonization in society. The Group’s initiatives included strengthening activities centered on markets related to 5G and IoT where investment is likely to expand and markets related to automated driving and electrification of automobiles. Orders received have been brisk. On the manufacturing front, delays in the procurement of electronic components and other items continued to occur. In response, the Group kept on implementing countermeasures such as procuring alternatives and making design changes.
As a result, in the consolidated results for the nine months ended December 31, 2021, the amount of orders received increased 41.2% year on year to ¥38,752 million. However, net sales were held to an increase of only 6.1% to ¥28,131 million. This result mainly reflected impacts such as longer product delivery times due to component shortages. On the earnings front, operating profit decreased 11.9% year on year to a profit of ¥1,172 million, driven by increase of sales, general, and administrative expenses. Profit attributable to owners of parent decreased 11.6% year on year to ¥834 million.

Performance by Segment

<Equipment Business>

(Millions of Yen)

2020/12 2021/12 Year on Year
Orders received 22,340 33,007 47.8%
Net sales 20,745 23,237 12.0%
Operating profit 1,073 951 -11.4%

In the environmental test chambers field, particularly the Japanese market, orders received increased year on year both for versatile standardized products and customized products, but net sales decreased. In overseas markets, orders received were strong. Net sales increased year on year in China, North America, Europe, Southeast Asia and Taiwan, but decreased in South Korea.
In the energy devices equipment field, both orders received and net sales increased year on year and orders were acquired for evaluation systems for secondary batteries due to recovery in automotive-related investment.
In the semiconductor equipment field, orders received were on a par with the same period of the previous fiscal year while investment related to memory and automobiles continued, but net sales decreased.
As a result, the equipment business on the whole saw orders received increase 47.8% to ¥33,007 million and net sales increase 12.0% year on year to ¥23,237 million. On the profit front, operating profit decreased 11.4% year on year to ¥951 million mainly due to an increase in selling, general and administrative expenses

<Service Business>

(Millions of Yen)

2020/12 2021/12 Year on Year
Orders received 4,567 4,993 9.3%
Net sales 4,114 4,472 8.7%
Operating profit 191 311 63.1%

In the after-sales service and engineering field, both orders received and net sales increased year on year, due to a strong performance in preventive maintenance services such as maintenance agreements.
In laboratory testing services and facility rentals, both orders received and net sales increased year on year as laboratory testing services, centered on automotive-related matters, recovered in Japan, and performed steadily in China.
As a result, the service business on the whole saw orders received increase 9.3% year on year to ¥4,993 million and net sales increase 8.7% to ¥4,472 million. On the profit front, operating profit was ¥311 million, an increase of 63.1% year on year due to an increase in net sales.

<Other Business>

(Millions of Yen)

2020/12 2021/12 Year on Year
Orders received 778 956 22.9%
Net sales 1,848 612 -66.9%
Operating profit (loss) 64 -89

In the other business, which is centered on the environmental preservation and plant factory businesses, orders received increased 22.9% year on year to ¥956 million, due to an increase in orders received for forest and waterside creation, and capturing orders for plant factories. Net sales decreased 66.9% year on year to ¥612 million because of a large plant factory project in the same period of the previous fiscal year. The segment posted an operating loss of ¥89 million, which marked a deterioration of ¥154 million year on year.

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