Showa Denko Revises Forecast of Consolidated Performance

by JCN Newswire

TOKYO, Feb 9, 2022 - (JCN Newswire) -  Showa Denko (SDK; TSE:4004) announces that it revises its forecast of consolidated business results for the full year ending on December 31, 2021, which was announced on August 3, 2021.

1. Revision of forecast of consolidated business results for January 1 - December 31, 2021

(1) Revised forecast of consolidated business results for January 1 - December 31, 2021
https://www.acnnewswire.com/docs/Multimedia/Low_SDK202202.jpg

(2) Reasons for the revision

Net sales hovers around the level of the previous forecast. However, operating income is expected to slightly increase. Ordinary income is also expected to increase by about 4.5 billion yen due to an increase in foreign exchange gain and a slight increase in equity in earnings of affiliates. In addition, an extraordinary loss of about 8.5 billion yen, which was once expected to incur in the year ending on December 31, 2021 as a cost of business structure improvement in the Showa Denko Materials segment, is now expected to incur in 2022. As a result, net income attributable to owners of the parent is expected to increase by about 13 billion yen from that in the previous forecast.

With regard to the dividend, we maintain our expectation that the Company will pay 65 yen per share as year-end dividend.

About Showa Denko K.K.

Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers and electronics. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory/graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high bright LEDs, and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

For further information, contact:
Showa Denko K.K., IR Office, Finance & Accounting Department, Tel: 81-3-5470-3323

Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.com