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Financial results for the 80th fiscal year and change in assignments of Executive Officers

At the Board of Directors meeting of June 12, 2017, the Board approved the financial results for the 80th fiscal year (April 1, 2016, to March 31, 2017) and tentatively confirmed assignments of executive officers.
Formal confirmation of the assignments of executive officers is scheduled to be made at the Annual Shareholders Meeting and Board of Directors meeting to be held on June 23.

Summary of Financial Statements for the 80th fiscal year

For the current period, units sold fell (8.36 million kl, down 630,000 kl from the same period last year) as a result of a drop in production due to regularly scheduled work on both the Shikoku and Yamaguchi plants. In addition, the decline in selling price per unit reduced sales figures to 533.5 billion yen (down 76.1 billion yen from the same period last year).
A profit accrued during the period from revised valuation of product in stock, and there was something of a resurgence in demand in Asia for petrochemical products. Also, the market for styrene monomers in particular was strong, due to the long-term prospect of work being done on petrochemical factories in the United States. The market thereby turned favorable overall, for an operating income of 22.5 billion yen (up 10.5 billion yen on the same period last year), and ordinary income of 21.4 billion yen (up 8.9 billion yen on the same period last year). Furthermore, current net earnings were their highest ever at 13.5 billion yen (up 4.8 billion yen on the same period last year), making for decreased income but greater profits.

Profit and Loss

(unit: JPY 100 million)

  79th fiscal year 80th fiscal year year-on-year
Sales 6,096 5,335 -761
Operating income 120 225 +105
Ordinary income
(Ordinary income excluding stock-related factors)
125
(270)
214
(47)
+89
(-223)
Net income 87 135 +48
(On a consolidated basis)      
Consolidated sales volume 6,172 5,418 -754
Consolidated ordinary income 124 211 +87
Consolidated net income 85 131 +46

Assignments of Executive Officers