May. 12, 2022
Toyo Engineering Corporation (hereafter “TOYO”) hereby announce the difference between the consolidated financial results and forecast for the fiscal year ending March 31, 2022.
1. Difference between the consolidated financial results and forecasts
(1) Difference between the consolidated financial results and forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
1. Difference between the consolidated financial results and forecasts
(1) Difference between the consolidated financial results and forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
(Note) Upon calculation of "Net income per share", the number of class A preferred stocks which were issued in March 2019 is included.
(2) Major reasons of the difference
Net sales was JYE 202 billion, down by 37 billion from previous forecast. This is mainly due to lower-than-expected progress for some projects such as EPC project in India and Petrochemical plant in Russia.
While seeing the impact of decreased net sales, improvement of the profitability in other projects and reduction of SG&A expenses contributed to increased profit at each profit level.
(2) Major reasons of the difference
Net sales was JYE 202 billion, down by 37 billion from previous forecast. This is mainly due to lower-than-expected progress for some projects such as EPC project in India and Petrochemical plant in Russia.
While seeing the impact of decreased net sales, improvement of the profitability in other projects and reduction of SG&A expenses contributed to increased profit at each profit level.