Latest Results and Forecasts

Consolidated Operating Results for the First Six Months
of the Fiscal Year Ending December 31, 2021

Overview

In the first half of the fiscal year ending December 31, 2021 (January 1, 2021 to June 30, 2021), although conditions in the Japanese economy remained harsh due to the influence of the novel coronavirus (COVID-19) pandemic, there were signs of recovery that reflected economic improvement overseas. In Europe and the United States, economic recovery continued, albeit modestly, as restrictions on economic activities were gradually relaxed in step with the expansion of the vaccinated population. In China, which turned to positive growth earlier than other countries, economic recovery was seen mainly due to expansion in domestic demand. However, the overall outlook remains unclear, reflecting lingering worries about a possible resurgence of the COVID-19 pandemic due to the emergence of highly infectious variants as well as global shortages of semiconductors, surging raw material prices, and other factors.

Against this backdrop, the Ryobi Group actively pursued web-based business negotiations and other such marketing activities while implementing measures aimed at achieving cost reductions, productivity improvements, and higher operational efficiency.

These efforts yielded performance improvements over the period that included increases in net sales and earnings compared with the same period of the previous fiscal year.

Consolidated Earnings

  First six months of fiscal year
ended December 31, 2020
First six months of fiscal year
ending December 31, 2021
Change
Millions of yen % of net sales Millions of yen % of net sales Millions of yen %
Net sales 77,700 95,567 17,866 23.0%
Operating income -3,551 -4.6% -621 -0.7% 2,930
Profit attributable to owners of parent -1,668 -2.1% 225 0.2% 1,894

Performance by Industry Segment

The Die Castings Business recorded increases in revenues and earnings compared with the same period of the previous fiscal year. Sales increased in Japan and overseas. Despite the negative impact of global semiconductor shortages on automobile production, revenues grew in all regions thanks to a recovery in automobile sales accompanying improved business confidence and progress in the COVID-19 vaccination rate. Moreover, the upward revision in Ryobi’s product prices, which reflected rising raw material (aluminum) prices, contributed to growth in revenues. On the earnings front, although the increase in revenues led to an improvement in profit, ongoing growth in raw material prices inhibited the Group's ability to achieve profitability in this segment as the subsequent effect of upward revisions in sales prices has yet to offset the higher raw material prices.

The Builders' Hardware Business recorded decreases in revenues and earnings compared with the same period of the previous fiscal year. Sales decreased both in Japan and overseas. On the earnings front, despite efforts to cut costs and expenses, segment earnings declined due to lower sales and higher procurement costs caused by the appreciation of the Chinese yuan.

The Printing Equipment Business recorded an increase in revenues and a decrease in earnings compared with the same period of the previous fiscal year. Revenues decreased in Japan, but increased overseas. In Japan, the sales environment remained severe as printing companies became increasingly cautious about undertaking capital investment due mainly to uncertainty over the future. On the other hand, overseas exports, mainly to China and South Korea, were strong, and revenues increased. Despite our efforts to reduce costs and improve productivity, segment earnings decreased due to the decline in domestic sales.

Net Sales by Industry Segment

First six months of fiscal year
ended December 31, 2020
First six months of fiscal year
ending December 31, 2021
Change
Millions of yen % of consolidated net sales Millions of yen % of consolidated net sales Millions of yen %
Die Castings 64,648 83.2% 82,140 86.0% 17,492 27.1%
Builders' Hardware 4,672 6.0% 4,520 4.7% -152 -3.3%
Printing Equipment 8,302 10.7% 8,817 9.2% 514 6.2%

Operating Income by Industry Segment

  First six months of fiscal year
ended December 31, 2020
First six months of fiscal year
ending December 31, 2021
Change
Millions of yen % of segment net sales Millions of yen % of segment net sales Millions of yen %
Die Castings -3,509 -5.4% -369 -0.5% 3,139
Builders' Hardware 372 8.0% 233 5.2% -138 -37.2%
Printing Equipment -402 -4.8% -488 -5.5% -86

Consolidated Financial Statements for the First Six Months of Fiscal 2021 <PDF 408KB>

Presentation Materials for the First Six Months of Fiscal 2021 <PDF 1.53MB>


Forecasts for the Fiscal Year Ending December 31, 2021

As of October 19, 2021

With regard to performance forecasts for fiscal 2021, the Company has revised the figures announced on July 16, 2021. Details follows.

Consolidated Performance Forecast for the Full Fiscal Year Ending December 31, 2021

  Net sales Operating income Profit attributable to owners of parent Earnings per share
Millions of yen Yen
Announced July 16, 2021 211,000 2,300 2,200 67.97
Announced October 19, 2021 202,000 -1,800 -600 -18.54
Change -9,000
( -4.3% )
-4,100
( — )
-2,800
( — )

( — )

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