Q2 2022 Showa Denko KK Earnings Call Transcript
Good evening. This is Hideki Somemiya, CFO of Showa Denko. Thank you very much for your continued interest in our business performance. I'd like to present the financial results of the second quarter FY 2022.
Please turn to the presentation material entitled as a consolidated financial results second quarter 2022. Page 2 shows 3 key points of this presentation. In the first half of the year, in addition to the positive impact of the yen's depreciation, strong sales in the Semiconductor and the Electronic Materials segment continued and increased raw material costs was shifted to product prices to some extent.
But due partly to the sluggish automobile production and sales decline caused by the effect of transfer of the businesses implemented in 2021, sales decreased JPY 37.3 billion year-on-year and profit decreased year-on-year due to the absence of gain in graphite electrode business this year, which was caused by an application of the lower of cost or market accounting method in 2020. But within the
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