Showa Denko: Fiscal 3Q21 Financial Results

Showa Denko K.K. announced its financial results for 3FQ21 ended September 30, 2021.

Global revenue reaches ¥1,051.7 billion (or $9.2 billion) for the first 9 month of fiscal year, vs. ¥636.0 billion (or $5.6 billion) – up 65% Y/Y – for the same period one year ago, with net loss of $10.3 and $66.3, respectively.

This losses result from recording of expenses for execution of environmental measures amounting to ¥9 billion and an expenditure to cover the cost of structural reform related to the transfer of energy storage devices and systems business amounting to ¥30.1 billion.

For FY21, expectations are ¥1,400 billion in total sales and ¥25 billion loss.

Among firm’s businesses, one is concerning storage: glass-based hard disk platter manufacturing, included in its electronic segment.

No figures were revealed in this segment but some comments.

Sales of HD media increased due to an increase in shipment volumes for use in data centers and PCs. But profit slightly decreased with volumes up due to steady demand for nearline servers for data centers and will have only a slight influence on the demand for disks in the near future.