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May 2015 Fact Book 2015

Transcript of Fact Book 2015Fact Book Fact Book - ZEON · Fact Book May 2015 Fact Book 2015Fact Book ... are not...

Fact Book

May 2015

Fact BookFact BookFact Book 2015

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*Each Fiscal year is from April 1st to March 31st .4 1 3 31 1

I. FINANCIAL HIGHLIGHTS

II. COMMON STOCK INFORMATION

III. FINANCIAL SUMMARY

IV. CONSOLIDATED FINANCIAL STATEMENTS

V. SEGMENT INFORMATION

VI. PRODUCTION CAPACITY

CONTENTS

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Unit JPYm

Net sales

ConsolidatedJPYm

ConsolidatedJPYm

Operating income

I. FINANCIAL HIGHLIGHTS

(Consolidated) Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Net sales270,383 262,842 250,763 296,427 307,524

Operating income35,295 32,123 23,696 29,901 28,245

Ordinary income33,623 31,487 25,212 32,561 31,098

Net income18,303 19,127 14,750 19,650 19,080

Total assets290,596 311,925 350,508 370,872 399,512

Net Assets118,767 135,480 162,057 181,414 215,631

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Common Stock & Net Assets Unit JPYm

Stocks As of Mar. 31, 20152015 3 31

Major Shareholders

II. COMMON STOCK INFORMATION

* Treasury stocks (15,286 thousand shares) are not included in the above list.15,286

Issued Stocks Common StocksNumber of Stocks

Issued

Tokyo (First Section)

As of Mar. 31, 20152015 3 31

(%)Yokohama Rubber Co.,Ltd.

22,682 10.00Japan Trustee Services Bank, Ltd. (Trust Account)

11,340 5.00Mizuho Bank, Ltd

11,310 4.99NORTHERN TRUST CO. (AVFC) RE 15PCT TREATY ACCOUNTNORTHERN TRUST CO. (AVFC) RE 15PCT TREATY ACCOUNT 8,806 3.88The Master Trust Bank of Japan, Ltd. (Trust Account)

7,965 3.51Asahi Mutual Life Insurance Company

7,679 3.39National Mutual Insurance Federation of Agricultural Cooperatives

7,450 3.28Asahi Kasei Chemicals Corp.

6,438 2.84Japan Trustee Services Bank, Ltd. (Trust Account 9)

5,125 2.26CMBL S.A. RE MUTUAL FUNDSCMBL S.A. RE MUTUAL FUNDS 4,333 1.91

Shareholder

Number ofHolding Shares

(thousand) Rate (%)

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Common Stock24,211 24,211 24,211 24,211 24,211

Net Assets118,767 135,480 162,057 181,414 215,631

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Changes in Stock Prices & Stock Market Turnovers

Unit JPY, 1000sharesUnit JPY

Financial Institutions 39.1%39.1%

Other corporate bodies 23.9%23.9%

Individuals & Others 16.4%16.4%

Securities Companies 1.4%1.4%

Foreign corporate bodies 19.2%19.2%

Distribution of Stock OwnershipAs of Mar. 31, 20152015 3 31

Stock M

arket Turnovers&

The Nikkei A

verage

Stock P

rice

Stock Market Turnovers

ZEON’s Stock Price

The Nikkei Average

II. COMMON STOCK INFORMATION

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Financial Indicator

Number of EmployeesUnit Employees

III. FINANCIAL SUMMARY

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Consolidated2,836 2,857 3,163 3,186 3,216

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

EPS(JPY, ) 78.8 82.7 63.8 85.2 84.1 (Earnings Per Share)

- / )PER(X, ) 9.7 9.3 15.3 11.0 13.2 (Price Earnings Ratio)

/ EPSCFPS(JPY, ) 169.7 168.8 142.2 159.1 169.8 (Cash Flow Per Share)

P/CF(X, ) 4.5 4.5 6.8 5.9 6.5 (Cash Flow Ratio)

/ 1BPS(JPY, ) 497 573 686 783 931 (Book-value Per Share)

- / )PBR(X, ) 1.54 1.34 1.42 1.19 1.19 (Price Book-value Ratio)

/ BPS

767Stock Price (JPY, ) 1,110974 934767

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Capital Expenditures

ConsolidatedJPYm

Depreciation & Amortization

Research and Development Expenses

ConsolidatedJPYm

ConsolidatedJPYm

III. FINANCIAL SUMMARY

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 201410,329 22,995 23,489 27,111 28,516

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 20149,532 11,106 11,895 12,661 13,627

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 201421,125 19,885 18,122 17,068 19,439

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Consolidated Results Unit JPYm

IV. CONSOLIDATED FINANCIALS STATEMENTS

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Net sales270,383 262,842 250,763 296,427 307,524

Operating income35,295 32,123 23,696 29,901 28,245

Income before income taxes30,244 31,404 23,423 32,528 29,791

Net income18,303 19,127 14,750 19,650 19,080

Net income per Share78.77 82.75 63.81 85.15 84.13

ROE (%)(%) 16.7 15.5 10.1 11.7 9.8

Total assets290,596 311,925 350,508 370,872 399,512

Net assets118,767 135,480 162,057 181,414 215,631

Equity Ratio (%)(%) 39.5% 42.5% 45.2% 47.9% 52.9%

Net assets per share 497.1 573.0 685.6 783.1 931.3

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Consolidated Statements of Income Unit JPYm

IV. CONSOLIDATED FINANCIALS STATEMENTS

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Net Sales270,383 262,842 250,763 296,427 307,524

Cost of sales192,690 186,296 180,624 213,307 224,887

Gross profit77,692 76,546 70,139 83,120 82,636

SG&A42,397 44,423 46,442 53,219 54,391

Operating income35,295 32,123 23,696 29,901 28,245

Non operating income1,551 1,796 3,949 4,430 4,297

Non operating expenses3,224 2,432 2,434 1,770 1,443

Ordinary income33,623 31,487 25,212 32,561 31,098

Extraordinary gains70 1,279 605 544 1,126

Extraordinary losses3,448 1,362 2,394 577 2,434

Income before income taxes30,244 31,404 23,423 32,528 29,791

Income taxes11,321 11,589 8,257 12,535 10,375

18,923 19,815 15,166 19,992 19,416

Minority interest in income of consolidated subsidiaries621 688 416 343 337

Net Income18,303 19,127 14,750 19,650 19,080

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Unit JPYmConsolidated Balance Sheets

IV. CONSOLIDATED FINANCIALS STATEMENTS

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Current assets156,741 169,244 175,656 178,396 176,609

Fixed assets133,855 142,680 174,852 192,476 222,903

Deferred charges- - - - -

Total assets290,596 311,925 350,508 370,872 399,512

Current liabilities105,137 120,312 134,560 133,668 119,174

Long-term liabilities66,691 56,133 53,891 55,789 64,707

Total Liabilities171,828 176,444 188,451 189,457 183,881

Total shareholder's equity121,715 138,340 150,312 162,467 178,273

Accumlated Other Comprehensive Income-6,840 -5,889 8,182 15,136 32,943

Stock acquisition right234 228 262 266 304

Minority interests3,659 2,801 3,301 3,545 4,111

Total net assets118,767 135,480 162,057 181,414 215,631

Total Liabilities and net assets290,596 311,925 350,508 370,872 399,512

Assets

Net Assets

Liabilities

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Segment Information (Current fiscal year From April 1, 2014 to March 31, 2015)Unit JPYm

V. SEGMENT INFORMATION

Elastomer BusinessSynthetic rubbers, Synthetic latices, Chemicals(C5 Petroleum resins, Thermoplastic elastomers, etc),Packaging and Logistics materials

C5

Specialty Materials Business

OthersRIM formulations, RIM Products,Paints Technology of the GPB process, etc RIM RIM

Specialty chemicals (Synthetic aroma chemicals, Industrial chemicals, etc), Information materials (Electronic materials, Polymerized toners, etc), Specialty plastics (Cyclo-olefin polymers, Optical materials)Medical products

On the basis of medium-term management plan, Packaging and Logistics Materials are reported as part of Elastomer Business and the Medical Products are reported as part of Specialty Material Business segment. Previously, both segments were reported as Other Business segment. However, reported results in previous fiscal 2010 do not reflect these segment changes.

ElastomerBusiness

SpecialtyMaterialsBusiness Sub Total Others Total

Eliminationsand corporate Consolidated

I. Sales and operating income

Sales

(1) Sales to third parties

(2) Inter-group sales and transfers

188,829 70,875 259,704 50,049 309,753 -2,229 307,524

16,818 9,446 26,264 2,017 28,281 -36 28,245

-2,229

Operating income

444

307,52470,875

1,785 2,229 -

Total

49,605257,919

1,785

307,524

-

187,044 -

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Sales Unit JPYm

Operating income

V. SEGMENT INFORMATION

Total assets

Unit: JPYm

Unit JPYm

On the basis of medium-term management plan, Packaging and Logistics Materials are reported as part of Elastomer Business and the Medical Products are reported as part of Specialty Material Business segment. Previously, both segments were reported as Other Business segment. However, reported results in previous fiscal 2010 do not reflect these segment changes.

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Elastomer Business173,434 177,547 164,028 184,351 188,829

Specialty Materials Business49,790 48,134 51,411 64,154 70,875

Others48,494 39,057 37,508 50,798 50,049

Eliminations and corporate assets-1,336 -1,896 -2,185 -2,876 -2,229

Consolidated270,383 262,842 250,763 296,427 307,524

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Elastomer Business28,186 30,166 19,595 19,322 16,818

Specialty Materials Business6,445 491 2,613 9,121 9,446

Others587 1,435 1,489 1,488 2,017

Eliminations and corporate assets77 30 -1 -31 -36

Consolidated35,295 32,123 23,696 29,901 28,245

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Elastomer Business147,173 168,409 179,797 192,704 196,115

Specialty Materials Business73,647 72,973 71,878 76,687 78,754

Others23,468 20,056 29,199 28,021 26,919

Eliminations and corporate assets46,308 50,486 69,634 73,460 97,723

Consolidated290,596 311,925 350,508 370,872 399,512

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Depreciation & Amortization Unit JPYm

V. SEGMENT INFORMATION

Capital expenditures Unit: JPYm

On the basis of medium-term management plan, Packaging and Logistics Materials are reported as part of Elastomer Business and the Medical Products are reported as part of Specialty Material Business segment. Previously, both segments were reported as Other Business segment. However, reported results in previous fiscal 2010 do not reflect these segment changes.

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Elastomer Business7,880 7,313 6,681 7,378 8,902

Specialty Materials Business11,342 11,028 9,720 7,380 8,144

Others410 69 73 324 278

Eliminations and corporate assets1,493 1,476 1,648 1,985 2,114

Consolidated21,125 19,885 18,122 17,068 19,439

Mar-11 Mar-12 Mar-13 Mar-14 Mar-152010 2011 2012 2013 2014

Elastomer Business3,617 12,152 15,333 12,788 13,906

Specialty Materials Business5,433 8,968 5,040 12,053 9,650

Others316 140 433 386 355

Eliminations and corporate assets963 1,735 2,683 1,884 4,605

Consolidated10,329 22,995 23,489 27,111 28,516

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Elastomer Business

Sales Operating incomeJPYm

JPYm

JPYm

JPYmTotal assets Depreciation & Amortization

JPYm Capital expenditures

V. SEGMENT INFORMATION

On the basis of medium-term management plan, Packaging and Logistics Materials are reported as part of Elastomer Business and the Medical Products are reported as part of Specialty Material Business segment. Previously, both segments were reported as Other Business segment. However, reported results in previous fiscal 2010 do not reflect these segment changes.

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Specialty Materials Business

Sales Operating incomeJPYm

JPYm

JPYm

JPYmTotal assets Depreciation & Amortization

JPYm Capital expenditures

V. SEGMENT INFORMATION

On the basis of medium-term management plan, Packaging and Logistics Materials are reported as part of Elastomer Business and the Medical Products are reported as part of Specialty Material Business segment. Previously, both segments were reported as Other Business segment. However, reported results in previous fiscal 2010 do not reflect these segment changes.

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Others

Sales Operating incomeJPYm

JPYm

JPYm

JPYmTotal assets Depreciation & Amortization

JPYm Capital expenditures

V. SEGMENT INFORMATION

On the basis of medium-term management plan, Packaging and Logistics Materials are reported as part of Elastomer Business and the Medical Products are reported as part of Specialty Material Business segment. Previously, both segments were reported as Other Business segment. However, reported results in previous fiscal 2010 do not reflect these segment changes.

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Production Capacity by product and locationUnit /y

/

(a) Total capacity of Tokuyama and Kawasaki Plants.NBR

VI. PRODUCTION CAPACITY

Unit million /y/

(b) Total capacity of Kawasaki and Kurashiki Plants.ACM

Takaoka Himi Tsuruga Total

Optical Films35 105 10 150

Tokuyama Kawasaki Kurashiki Takaoka Mizushima USA UK Singapore Thailand Total

Monomer

Butadiene180,000 157,000 337,000

Isoprene80,000 80,000

Synthetic Rubbers

ESBR 80,000 80,000SSBR 55,000 35,000 90,000BR 65,000 65,000NBR 15,000 15,000 90,000HNBR 500 4,000 5,000 9,500IR 40,000 40,000ACM 8,500 17,000Others

10,000 10,000Synthetic Latices

92,500Chemicals

C5 fraction resinC5 40,000 40,000 80,000DCPD resinDCPD 10,000 10,000SIS 42,000 42,000

Specialty Chemicals

Synthetic aroma3,000 3,000

Specialty solvents8,000 8,000

Cyclo-olefin Polymer31,000 31,000

Polymerized toner5,400 5,400

60,000

92,500

8,500

(a)

(a)

(b)

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FACT BOOK 20151818181818

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1919191919

References

*Each Fiscal year is from April 1st to March 31st .4 1 3 31 1

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Production for Major Petrochemicals(Japan)Unit /y

(Notes)( The subjects of major petrochemicals are based on “Chemical Industry Statistics” from Ministry of Economy,

Trade and Industry of Japan.

(Source: Japan Petrochemical Industry Association)

References

2009 2010 2011 2012 2013Quantity Quantity Quantity Quantity Quantity

6,912,627 7,017,554 6,689,349 6,145,182 6,695,723

5,590,487 5,985,539 5,624,736 5,239,333 5,646,978

871,038 977,175 933,786 904,849 963,384

2,996,462 2,938,613 2,739,045 2,392,007 2,592,035

601,700 662,998 732,834 553,908 517,869

527,438 670,447 665,192 651,598 655,630

254,230 294,094 274,789 290,362 302,617

85,628 115,007 109,369 107,180 115,001

88,584 129,554 135,324 122,507 125,841

148,852 192,717 196,871 217,916 202,479

195,611 193,425 229,664 237,803 242,050

1,300,343 1,595,244 1,611,209 1,627,366 1,643,618

1,604,820 1,704,076 1,664,221 1,477,334 1,539,314

985,767 1,015,260 934,800 927,796 907,938

2,410,807 2,709,023 2,448,358 2,390,256 2,248,199

GP-HI689,920 698,113 653,963 588,559 632,767

FS114,067 123,560 125,143 112,316 111,038

SAN92,394 108,925 77,885 85,171 89,726

ABS ResinABS 348,369 454,109 418,479 381,656 355,539

112,055 119,903 121,466 106,643 104,440

Polystyrene

Low-density Polyethylene

Polypropylene

Petroleum Resin

Plastics

High-density Polyethylene

Butadiene Rubber(BR)

Basic ProductsSynthetic Rubbers

Ethylene

Propylene

Butadiene

Styrene

Acrylonitrile

Polychloroprene Rubber(CR)

Styrene-Butadiene Rubber(SBR)

Acrylonitrile-Butadiene Rubber(NBR)

Ethylene-Propylene Terpolymer(EPDM)

Others

Sub-Total

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Changes in Consumption of Rubber; Ratio of Synthetic Rubber(Japan)Unit /y

/

(Source: The Japan Rubber Manufactures Association)

Changes in Consumption of Raw Material for Tire and Tubes(Japan) Unit: /y

(Source: The Japan Automobile Tyre Manufacturers Association, Inc.)

Changes in Domestic Naphtha Prices Unit JPY/KL/KL

References

(Source: Trade Statistics of Japan.)

2010 2011 2012 2013 2014Tires

1,179,050 1,190,780 1,160,070 1,140,260 1,135,400

Industrial use242,740 233,980 242,020 240,130 240,090

Footwear1,369 1,100 1,050 1,050 1,080

Others15,041 15,540 16,760 16,760 17,130

Sub-Total1,438,200 1,441,400 1,419,900 1,398,200 1,393,700

299,400 275,100 270,100 266,050 266,700

1,737,600 1,716,500 1,690,000 1,664,250 1,660,400

118.4 98.8 98.5 98.5 99.8

987,200 963,100 956,600 953,700 951,400

56.8 56.1 56.6 57.3 57.3

Rubber Manufactures

Other Products

(%)

Total

Change(%)(%)

Synthetic Rubbers

Rate of Usage(%)

2010 2011 2012 2013 2014New Rubber (A)

1,162,731 1,193,901 1,110,980 1,100,255 1,098,786

507,153 512,333 479,669 478,045 480,042

43.62 42.91 43.18 43.45 43.69

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Domestic Capacity of Japan's Synthetic Rubber ManufacturersUnit 1000 /y

/

References

(Source: International Institute of Synthetic Rubber Producers / Worldwide Rubber Statistics 2014(table3-F)) International Institute of Synthetic Rubber Producers / Worldwide Rubber Statistics 2014 (table3-F)

SBR EPM/ NBRSolid EPDM Solid

JSR CorporationJSR 210 72 41 36 35 394

Japan Buthyl178 178

KRATON JSR ELASTOMERS46 46

(JSR Group)JSR 210 72 41 36 178 35 46 618

135 65 40 64 40 344

Asahi Kasei Chemicals70 35 60 165

Sumitomo Chemical40 40

Ube Industries126 126

Mitsubishi Chemical65 65

Mitsui Chemicals95 95

DENKA100 100

Japan Elastomer19 16 25 60

TOSOH34 34

Showa Denko20 20

Kuraray7 23 30

Total499 314 88 171 178 99 154 194 1,697

ZEON CORPORATION

CR TotalBR IR IIR SBC

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References

Synthetic Rubber Production Volume by CountryUnit 1000 /y

/

(Source: The Japan Rubber Manufacturers Association.)

2010 2011 2012 2013 2014

USA2,322 2,498 2,311 2,234 2,312

UK238 230 240 199 143

Germany809 850 838 875 874

France568 611 578 616 571

Russia1,379 1,460 1,398 1,469 1,328

China3,100 3,490 3,820 4,090 5,314

Japan1,595 1,616 1,622 1,638 1,599

Total14,082 15,115 15,094 15,495 16,715

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References

Synthetic Rubber Consumption by Country

(Source: The Japan Rubber Manufacturers Association.)

Unit 1000 /y/

2010 2011 2012 2013 2014

USA1,732 1,859 1,766 1,698 1,855

UK148 161 152 160 140

Germany563 612 555 576 585

France306 319 280 257 251

Russia697 712 754 673 574

China4,442 4,464 5,039 5,471 6,646

Japan987 950 957 929 956

Total14,086 14,926 14,925 15,483 16,769

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References

Capacity of Major World Synthetic Rubber Manufacturers

(Source: International Institute of Synthetic Rubber Producers / Worldwide Rubber Statistics 2014(table19)) International Institute of Synthetic Rubber Producers / Worldwide Rubber Statistics 2014 (table19)

Unit 1000 /y/

Lanxess

Brazil, Germany, France, Belgium,Netherlands, U.S.A., Canada,Singapore

1,751ESBR BR EPM/EPDM IIR NBRCR SSBR SBC

Goodyear Tire & Rubber U.S.A.725 SSBR BR IR ESBR

ExxonMobil Chemical U.S.A., France, U.K.736 EPDM IIR

Versalis S.p.A. Italy, U.K.518

JSR Corporation Japan, ThailandJSR 645

ZEON CORPORATION Japan, U.S.A., U.K., Singapore414 ESBR BR IR NBR SSBR SBC

Dow Chemical U.S.A.140 EPDM

Styron Germany370 BR ESBR SSBR

Karbochem South Africa95 SSBR BR IR ESBR

Kumho Petrochemical Korea1,198 ESBR BR NBR SSBR SBC EPDM

SINOPEC China1,445 ESBR BR IIR IR SSBR SBC

Petro China China1,236 BR SBC SSBR ESBR EPDM NBR

Firestone Polymers LLC U.S.A.319 SSBR BR

DuPont Performance Elastomers U.S.A.100 CR

American Synthetic Rubber Co. U.S.A.170 SSBR BR

BR SSBR EPDM NBR ESBR SBC

SSBR IIR SBC BR EPDM IR ESBRNBR

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References

Global Automobile Production Unit thousand/y

/

(Source: ORGANISATION INTERNATIONALE DES CONSTRUCTEURS D'AUTOMOBILES)OICA

2010 2011 2012 2013 2014

Japan9,626 8,399 9,943 9,630 9,775

Korea4,272 4,657 4,558 4,521 4,525

China18,265 18,419 19,272 22,117 23,722

U.S.A.7,761 8,654 10,329 11,046 11,661

Canada2,071 2,135 2,464 2,380 2,394

Mexico2,345 2,680 3,002 3,070 3,365

Brazil3,648 3,406 3,343 3,451 3,146

Germany5,910 6,311 5,611 5,649 5,908

France2,228 2,295 1,968 1,797 1,817

England1,393 1,349 1,577 1,586 1,599

Italy857 790 672 511 698

Spain2,388 2,354 1,979 1,941 2,403

Others16,846 18,615 19,387 16,373 18,736

Total77,610 80,064 84,141 84,072 89,747

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03-3216-2747 Fax 03-3216-0501

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FACT BOOK 2015

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