The sales revenue increased by 9.0% with the operating income up 18.3% and the profit for the term up 11.2% in comparison with that of last year.

The sales revenue of industrial gases increased by 8.5% with the operating income up 15.1% compared with last year. Although the on-site gas supply at blast furnaces and the delivery by tank trucks or cylinders slowed down in the latter half of the term, the sales of on-site equipment for electronics use grew steadily.　

Furthermore, the new consolidation of the Indian gas business taken over from Praxair and Linde as well as Nichinetsu HD brought an additional sales revenue in the amount of JPY10.7 billion.
In the chemical field, the sales revenue increased by 19.9% with the operating income up 145% comparing with last year. Despite the declined selling price of phthalic anhydride, the M&As of Filwel and Daito Chemical contributed to the increase in sales revenue. In the medical field, the sales revenue increased by 7.9% with the operating income down 2.4%. The sales revenue increased in the well-going medical services with SPD and all other areas but medical gases. As for the energy field, the sales decreased by 1.4% with the operating income up by 9.6% compared with last year. The declination in the selling price of LP gases caused the decrease in sales.

In the agricultural and food field, the sales revenue increased by 0.6% with the operating income down 22.1%. It was attributed to the decrease in the consignment of beverage business due to the cool summer and the lowered market price of vegetable. In the logistics-related field, the sales revenue increased by 5.1% with the operating income up 8% compared with last year.

There was an increased sales in each field of transportation, the third party logistics and chassis production. The seawater business decreased in sales by 0.6% with the operating income up 24.4%. In terms of profit, the result was positive on account of the revised price of salt for commercial use although there was a negative factor like the declined sales of magnesium hydroxide.

In the other business fields, there were new consolidated overseas companies like Tailor Warton USA, Power Partners and Hitech. In addition, the operation of Hofu Power Station also contributed greatly to the corporate sales and profit.

Regarding the delivery of the major gases in the midst of the new coronavirus peril, the company says, “In April the sales of medical oxygen decreased by 5% on a monetary basis and the industrial gases as a whole decreased by 5.9%. In May nearly the same level as in April seems to be maintained though not yet being confirmed.”

Regarding the forecast of FY2021 ending March, the company foresees a downward pressure in sales revenue in the amount of JPY55 billion and an operating income of JPY6.8 billion on the assumption that there would be an extensive economic restriction in production and capital investment domestically and abroad during the first quarter, but in and after the second quarter the self-imposed control might well be gradually mitigated leading to a normalized situation through the year end to the beginning of the next year. In the industrial gas business, out of the estimated sales amounting to JPY32 billion in the on-site project for the blast furnace, a negative influence is anticipated to cause a decrease by JPY5 billion during the first half of term due to the suspension of the production facilities.

As the other areas which would inevitably be affected by the new coronavirus the company points out the agricultural and food-related fields whose sales might will be decreased under the stagnated condition of the medical, eat-out and sightseeing industries to be caused inevitably by the postponement of construction works of hospital facilities.

On the other hand, the company plans to wipe out the sales decrease due to the coronavirus with some positive factors like the full consolidation of the Indian business, an expansion of the electronics field and obtaining engineering orders, and to supplement JPY5.2 for the reduced operating income with the effect of the new consolidations.

On the basis of the above assumption, the company has a forecast of annual sales to be increased by 0.1% amounting to JPY810 billion with an operating income down 9.1% amounting to JPY 46 billion and the profit for the term down 11.3% amounting to JPY27 billion. A dividend is estimated to be 44 yen as last year.