Shinagawa Refractories reported net sales decreased by 0.7% in H1 FY2019-20

2019-11-08

Nov. 8, 2019 - Shinagawa Refractories Co., Ltd announced consolidated finacial results of Apr.-Sep. of fiscal year 2019-20. Shinagawa achieved the total net sales of 58.707 billion yen, with a decrease of 0.7% compared with the same period last year. Operating income declined by 8.7% YoY to 4,783 million yen. Net income attributable to parent company shareholders was 2,449 million yen, down by 33.9% YoY.

In addition, the business results by segment are as follows:

Refractories and related products: Net sales increased 1% YoY to 45.667 billion yen, and segment profit decreased 10.3% YoY to 4.42 billion yen. Although the sales volume of refractories decreased due to a decline in domestic crude steel production, sales increased due to price revisions in the second half of the previous fiscal year, but profits declined due to a decrease in volume and inventory valuation gains..

Engineering: Net sales down by 6.6% YoY to 12.01 billion yen, and segment profit increased 25.4% to 458 million yen. There was an impact such as a decrease in coke oven renewal work recorded in the previous year.

Others: Net sales decreased by 2.2% YoY to 1.03 billion yen, and segment profit was 555 million yen, up by 7.1% YoY.