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Q2 2020 Tosei Corp Earnings Call Transcript
Good afternoon. This is Hirano speaking, Director and CFO of Tosei Corporation. I would like to explain the financial results for the first 6 months of this fiscal year, ending November, 2020.
Please open Page 4 of your handouts. Here are the highlights of the cumulative results in the first 6 months. As shown on the top, we booked revenue of JPY 45 billion, up 30.8% year-on-year, which was a very strong performance.
This presentation is slightly different from the past, and let me give you an example using the operating profit on the top right. Next to the figures of the previous fiscal year and the year before, you can see the white bar in the middle, which is the initial operating profit forecast of JPY 13.7 billion set at the beginning of the fiscal year. The bar next to that is the actual OP in the first 6 months of this fiscal year, which was JPY 9.8 billion.
We booked a large valuation loss of inventories at the end of the first 6 months
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