1 st Quarter FY2013 Financial Review

Transcription

1 1 st Quarter FY2013 Financial Review August 6, 2013 Nippon Paper Industries Co., Ltd.

2 Contents 1 st Quarter FY2013 Review (April 1 June 30, 2013) 1. Business environment 2. Financial results 3. Earnings forecast 2

3 1. Business Environment: Domestic Shipment Domestic shipment improved YOY Domestic shipment of Japanese paper industry (YOY) 110% Paper Paperboard 105% 100% 95% 90% 85% Apr. '11 Jul. Oct. Jan. '12 Apr. Jul. Oct. Jan. '13 Apr. Source: Japan Paper Association 3

4 1. Business Environment: Domestic Shipment, Exports and Imports Imports volume sharply fell off, while domestic shipments and exports volume increased Domestic shipments volume YOY ('000 tons) Apr. - Jun Exports volume ('000 tons) YOY Apr. - Jun Imports volume ('000 tons) YOY Newsprint % % % Printing & business communication paper 1, % % % Coated paper * 1, % % % Uncoated & specialty printing paper % % % Business communication paper % % % Other papers (packaging, sanitary and other miscellaneous uses) % % % Paper total 3, % % % Container board 2, % % % Folding box board and others % % % Paperboard total 2, % % % Paper and paperboard total 6, % % % Bitoko-shi paper is included in coated paper. Source: Japan Paper Association 4

5 1. Business Environment: Domestic Price Trends Printing paper price began to hike (Apr. 11=1.00) 1.15 Printing paper Household tissue Linerboard Apr. '11 Oct. Apr. '12 Oct. Apr. '13 Source: Bank of Japan Corporate Goods Price Index 5

6 1. Business Environment: Major Input Price Trends Japanese yen has been depreciated, meanwhile the prices are flattened 20 Wastepaper ( /kg) ONP OCC Pulp (US$/t) BHK BSK Woodchip 1000 Pulp & Woodchip Woodchip (US$/t) Apr. '11 Oct. Apr. '12 Oct. Apr. ' Apr. '11 Oct. Apr. '12 Oct. Apr. ' (US$/BL) Crude oil (Dubai) & Coal (US$/t) Crude oil Coal 150 ( /US$) FOREX ( /A$) US$ A$ Apr. '11 Oct. Apr. '12 Oct. Apr. '13 Apr. '11 Oct. Apr. '12 Oct. Apr. '13 Source: Paper Recycling Promotion Center, Pulp&Paper Week, Crude oil= Platts, Coal=Global Coal Index 6

7 2. Financial Results: Highlights ( billion) FY2013 1Q Results Change (YOY) FY2012 1Q Results <Net sales> <Operating income> <Ordinary income> <Net income> Net sales increased YOY due to the recovery of paper sales in accordance with the restoration of disaster suffered mill. -Though cost reductions were steadily executed, operating income and ordinary income were below the previous year due to the decline of printing paper price. -Net income jumped up YOY due to gain on sales of non current assets 5.1 billion. 7

8 2. Financial Results: Segment Information Operating income decreased in pulp & paper segment with the paper price decline Upper row: Sales Lower row: Operating income FY2012 FY2013 (\billion) 1st QTR 2nd QTR 3rd QTR 4th QTR 1st QTR Change (YOY) Pulp and paper Paper related (packaging and chemical products) Wood products and construction related Other (beverages, logistics, etc.) Total

9 2. Financial Results: Sales Volume by Product Printing paper volume has increased due to the capacity restoration ( 000 tons) FY2012/1Q FY2013/1Q Change YOY Newsprint % Printing & business communication paper % Coated paper % Uncoated & specialty printing paper % Business communication paper % Packaging paper and others % Domestic sales (paper) 953 1, % Export (paper) % Paper total 976 1, % Container board % Folding boxboard and others % Domestic sales (paperboard) % Export (paperboard) % Paperboard total % Grand total (paper and paperboard) 1,367 1, % 9

10 2. Financial Results: Variance Analysis for Operating Income Cost reduction measures firmly supported operating income ( billion) Operating income -2.0 Raw materials & fuel prices Others FY2012/1Q Sales (volume & price) -6.3 Cost reduction +7.6 FY2013/1Q 10

11 3. Earnings Forecast ( billion) FY2013 (Estimate) <Net Sales> 1,050.0 <Operating income> 30.0 FY2012 1, Change (YoY) <Ordinary income> <Net income> No change from the estimation announced on May. 15,

12 Disclaimer Any statements in this presentation document, other than those of historical fact, are forward-looking statements about the future performance of Nippon Paper Industries, Co., Ltd. and its group companies. These statements are based on management s assumptions and beliefs in light of information currently available, and involve risks and uncertainties. Actual results may differ materially from these forecasts. Nippon Paper Industries Co., Ltd.