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Full Year 2020 Tosei Corp Earnings Call Transcript
Good afternoon. This is Hirano speaking, Director and CFO of Tosei Corporation. I would like to explain the financial results for the fiscal year ended November 2020. Please open Page 4 of your handouts.
Here are the highlights of the performance, and the revenue is shown on the top left bar chart. Due to the increased impact from the COVID-19 pandemic, we saw some slowdown in sales from around the second quarter. And our sales activities were mostly suspended in the third quarter of this fiscal year. As a result, we booked JPY 63.9 billion of revenue, an increase of 5.3% year-on-year.
The profit before tax, at the bottom left, was initially forecasted at JPY 13 billion for this fiscal year ended November 2020. However, we booked a large valuation loss in Q2 and at the end of the fiscal year. Thus, the profit before tax prior to this booking was JPY 13.6 billion, but the final profit before tax was JPY 5.9 billion, down 51% year-on-year.
The
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