Central Glass (4044) Q1 2023 earnings summary

Executive summary

• Q1 FY2023 net sales rose 4.5% YoY to ¥390 (¥100m), while operating profit fell 21.7% to ¥28 (¥100m).

• Profit attributable to owners of parent declined 54.6% YoY to ¥28 (¥100m), despite higher sales in the Glass Business.

Financial highlights

• Ordinary profit fell 32.3% YoY to ¥38 (¥100m); profit before income taxes declined 45.4% to ¥38 (¥100m).

• Comprehensive income decreased 33.3% YoY to ¥42 (¥100m).

Outlook and guidance

• FY2023 forecast, announced in May: net sales ¥1,825 (¥100m), operating profit ¥140 (¥100m), ordinary profit ¥160 (¥100m), and profit attributable to owners of parent ¥140 (¥100m).

• FY2023 segment sales forecast: Glass ¥625 (¥100m) and Chemicals ¥1,200 (¥100m); operating profit forecast ¥20 (¥100m) for Glass and ¥120 (¥100m) for Chemicals.