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November 9, 2021
 
Consolidated Financial Results for the First Half of FY2021
 

Metal One Corporation (headquartered in Chiyoda-ku, Tokyo; President & CEO, Shuichi Iwata) is pleased to announce its consolidated results for the first half (April to September) of FY2021. Details are provided below.

 
Overview of Consolidated Financial Results for the First Half of FY2021
 
Business environment
 

Reflecting recovery from economic deceleration triggered by the novel coronavirus pandemic, domestic steel demand grew in the construction, industrial machinery and automotive sectors compared with the same period of the previous fiscal year. Domestic crude steel production was likewise up year on year due to the increase in steel demand. Demand in overseas markets also rose year on year with the Unites States, Europe and China having achieved economic recovery, while Asian and other emerging economies are on a recovery trend, albeit at a decelerating pace.

   
Consolidated statement of income
 

Looking at key items in the consolidated statement of income, there were increases in revenue, gross profit and profit attributable to owners of parent compared with the same period of the previous fiscal year. This was attributable to the abovementioned factors affecting the business environment. The unaudited figures are presented below under IFRS.

 
(Unit: ¥ millions)
Item First half of FY2021
(Apr. to Sep.)
First half of FY2020
(Apr. to Sep.)
Fluctuation
Revenue1
944,711
628,522
316,189
Gross profit
58,316
34,778
23,538
Profit for the period attributable to owners of parent
19,249
163
19,086
 

1 In line with the adoption of the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29: March 31, 2020), etc., “Sales” have been reclassified as “Revenue” from the beginning of FY2021. This reclassification is also retrospectively applied to FY2020 operating results.

 
   
Consolidated statement of financial position
 

Total assets as of September 30, 2021 stood at ¥1,027.1 billion, an increase of ¥118.7 billion from the end of FY2020. This increase was mainly attributable to increases in trade receivables and inventories. Consolidated interest-bearing liabilities rose by ¥93.0 billion, to ¥297.3 billion.

Equity attributable to owners of the parent increased ¥10.8 billion from March 31, 2021, to ¥383.3 billion. This was mainly due to an increase in retained earnings.

   
Consolidated Performance Outlook for the Entire Fiscal Yearr
 
  As for the business environment and market conditions in the second half of FY2021, there is a lingering sense of uncertainty about the future status of steel demand and supply, due to higher steel raw material prices, global shortages of semiconductors, resurgences of the novel coronavirus pandemic, and other factors.
Accordingly, we will refrain from announcing full-year numerical projections.


   
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