This is to inform you that ZEON Corporation today filed a report with the Tokyo Stock Exchange regarding its financial results for the first quarter of the fiscal year ending March 2005, as follows:
Summary of FY2004 First Quarter Consolidated Financial Results and Business Performance
Name of listed company: URL http://www.zeon.co.jp/ |
ZEON Corporation | (Code: 4205: First Section, Tokyo Stock Exchange and Osaka Securities Exchange) |
| Representative | President & CEO | Naozumi Furukawa | |
| Contact | Managing Director, Finance & Accounting Dept. |
Yoichi Mishima | Tel: +81-3-3216-1785 |
| 1. | Notes Regarding the Compilation of Quarterly Results |
| (1) | Adoption of simplified method of accounting: Applicable Content: Method of depreciation and amortization, calculation standards for corporate taxes, etc. |
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| (2) | Change in accounting method in current consolidated fiscal year (fiscal 2004): Applicable Content: The method for depreciation and amortization of fixed assets, which in the past was mainly based on the straight line method, was changed to one primarily based on the fixed percentage method from the quarter under review. |
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| (3) | Change in scope of consolidation or application of equity method for subsidiaries: Not applicable |
| 2. | Summary of Financial Results for FY2004 First Quarter (April 1, 2004 to June 30, 2004) |
(1) Status Report on Consolidated Management Results
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(Rounded to the nearest million yen)
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| Notes: 1. | Percentage change for net sales shows increase or decrease from the same quarter in the previous fiscal year. | |
| 2. | With regard to items other than net sales, figures on actual results for FY2003 first quarter and percentage change from the same quarter in the previous fiscal year have not been provided because the Company began disclosing the relevant figures from the quarter under review. |
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Qualitative Information Related to Status Report on Consolidated Management Results
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Net sales for the FY2004 first quarter increased by ¥1,436 million, or 2.7% from the same quarter last year.
In our Elastomer Materials business, synthetic rubbers continued to demonstrate favorable sales, while exports of chemical products rose. In our Specialty Materials business, we saw significant growth in sales of optical resins and related processed products as well as in electronics materials, particularly with regard to our ZEORORA etching gas. Sales in our other businesses fell below levels of the same quarter in the previous fiscal year, due to an operational transfer in the Environmental Materials business and a decline in sales at our trading subsidiary.
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(2) Changes in Consolidated Financial Condition
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| Note: | With regard to changes in financial condition, figures for FY2003 first quarter have not been provided because the Company began disclosing the relevant figures from the quarter under review. |
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Qualitative Information Related to Changes in Consolidated Financial Condition
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On May 17, 2004, the Company repurchased 1,000,000 shares of its own stock for ¥737 million through the ToSTnet-2 closing price transaction mechanism on the Tokyo Stock Exchange.
In addition, there was a ¥2,150 million increase in investment securities and a ¥1,261 million increase in gain on valuation of other securities holdings.
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Reference
Forecast of Consolidated Financial Results for FY 2004 (April 1, 2004 to March 31, 2005)
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The Company has not revised its forecast. It may revise its full-year forecast when reporting FY2004 first-half results.
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Supplementary documents
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