SUMCF - Sumco Corporation (SUMCF) Q1 2024 Earnings Call Transcript
2024-05-12 10:32:10 ET
Sumco Corporation (SUMCF)
Q1 2024 Earnings Conference Call
May 9, 2024, 2:00 AM ET
Company Participants
Takayuki Komori - Investor Relations
Mayuki Hashimoto - Chairman and CEO
Shinichi Kubozoe - Vice President and CFO
Conference Call Participants
Takashi Enomoto - BofA
Atsushi Ikeda - Goldman Sachs
Takato Watabe - Morgan Stanley
Shigeki Okazaki - Nomura
Go Miyamoto - SMBC Nikko
Yuta Nishiyama - Citigroup Securities
Yu Yoshida - CLSA
Yasuhiro Nakada - JPMorgan
Mikiya Yamada - Mizuho Securities
Presentation
Takayuki Komori
Thank you for your participation today. This is the results briefing for the First Quarter of the Fiscal Year ending December 2024.
Before starting the presentation, allow me to confirm today’s materials, which consist of four items. The brief statement on consolidated financial results for Q1 fiscal 2024. The announcement concerning disparity between forecast and actual figures for the first quarter of fiscal 2024. The announcement regarding revision to dividend forecast and the presentation deck entitled Results for the Three Months ended March 2024. This will be a 60-minute briefing, which will end at 5 p.m.
Next, a disclaimer. The estimates, expectations, forecasts, and other future information discussed here and shown in today’s materials were prepared based on the information available to the company as of today and on certain assumptions and qualifications, including our subjective judgment.
Actual financial performance or results may differ substantially from the future information contained in this material due to risk factors including domestic and global economic conditions, trends in the semiconductor market and foreign exchange rates.
We will have presentations today from Representative Director, Chairman and CEO, Mayuki Hashimoto; and Vice President, CFO, Shinichi Kubozoe. Chairman and CEO, Hashimoto will discuss our forecasts and operating environment to be followed by an explanation of the financial results by CFO, Kubozoe. We have set aside time for a Q&A session as well.
I will now hand over to Chairman, Hashimoto.
Mayuki Hashimoto
I am Chairman, Hashimoto. I will start with the overview on Slide 5. This is a summary of the results for the first quarter of the fiscal year 2024. Both sales and profits for first quarter significantly overshot our forecasts. Sales exceeded the forecast by JPY6.5 billion. As shown here, operating income and ordinary income were roughly double the forecast....
Sumco Corporation (SUMCF) Q1 2024 Earnings Call Transcript