Q1 2020 Showa Denko KK Earnings Call Transcript
Ladies and gentlemen, thank you very much for joining us. This is Motohiro Takeuchi, CFO of Showa Denko. Thank you very much for your interest in the performance of our company. First of all, we would like to express our deepest sympathy to those who contracted the new coronavirus and those who are faced with difficult living environment due to the virus.
Let me now present the overview of 2020 Q1 financial results. Please turn to Page 2. Number of consolidated subsidiaries is 61, no change from the end of previous term. Equity method is applied to 11 companies, same as the end of fiscal 2019. January to March average exchange rate was JPY 108.9 to the dollar. Yen appreciated JPY 1.3 year-on-year from JPY 110.2. End-of-term exchange rate used to evaluate assets and liabilities was JPY 108.8 at the end of March. Yen appreciated 0.7 from JPY 109.6 at the end of previous term. As for euro, January to March average was JPY 120.1 to the euro. Yen appreciated JPY 5 year-on-year from JPY 125.2.
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