Financial Resultsfor
FY2018 2Q(April 1, 2018 ~ September 30, 2018)

Asahi Holdings, Inc.

1

Consolidated Financial Results (Year on Year)
᧤JPY in billion᧥

FY2017 2Q
Actual

FY2018 2Q
Actual

57.5

60.4

105%

60.0

120.0

6.38

6.86

108%

6.7

14.0

11.1%

11.4%

-11.2%

11.7%

4.3

4.5

106%

4.5

9.5

Revenue
OperatingIncome
Op. Income
Ratio
Profit attributable toowners of parent

FY2018 2Q
Forecast

Year on Year

Revenue

Operating Income

70

8.0

7.0

FY2018
Forecast

FY2018䚷Plan60
6.0

CAPEX

4.2

5.0

Depreciation
Expense2.450404.0

FY2017 2Q

FY2018 2Q

Highlights of Financial Results (Year on Year)
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Dividendpolicy Raise dividend payout ratio from 30٫ and above to50٫ and above

ͤThe forecast for the annual dividend of FY2018 was revised up from 74yen to 120yen.
2Results (By Segment)
᧤JPY in billion᧥

FY2018岜2Q
ActualPrecious metals

Environmental

Life&Health

Adjustment*

Total

Revenue

42.4

810‫ص‬

60.4

Operation
Income

6.5

1.4

0.3

(1.3)

6.9

Op. Income
Ratio

15.3%

18.1%

2.5%

‫ص‬

11.4%

FY2017岜2Q
ActualPrecious metals

Environmental

Life&Health

Adjustment*

Total

Revenue

37.4

7.8

12.2

‫ص‬

57.5

Operation
Income5.1

1.7

0.7(1.2)

6.4

Op. Income
Ratio

13.7%

21.3%

6.0%

‫ص‬

11.1%

*Adjustments are mainly corporate expenses that are not allocated to each reporting segment.

Segment Results (Precious Metals)
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Actual

FY2017 2Q

FY2018 2Q

Revenue

37.4

42.4

[Revenue]

᧤JPY in billion᧥

Operating
Income5.1

6.5Op. IncomeRatio

13.7%

15.3%

)<4)<4[Operating Income]PlanFY2018

Revenue

78.0

Oparating Income

12.2)<43)<4Segment Results (Environmental Preservation)
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RIZLWKGUDZDOActual

FY2017 2QFY2018 2Q

Revenue

7.8

8.0

OperatingIncome

1.7

1.4

Op. Income
Ratio

21.3%

18.1%

[Revenue]

᧤JPY in billion᧥)<4)<4[Operating Income]PlanFY2018Revenue

16.0

Oparating Income

2.9)<4)<4

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Actual

FY2017 2Q

FY2018 2Q

Revenue

12.2

10.0

OperatingIncome

0.7

0.3

Op. Income
Ratio

6.0%

[Revenue]

᧤JPY in billion᧥

2.5%)<4)<4[Operating Income]

Plan



FY2018

Revenue

26.0

Oparating Income

1.5)<44)<4

Trend in Metal Prices(Au, Ag)(Unit: JPY per gram)

GoldSilver)<)<)<)<)<)<

Trend in Metal Prices(Pd, Pt)(Unit: JPY per gram)

Palladium)<

Platinum)<)<)<)<)<5Trend in Prices(Gold <USD/Toz>, EXC <USD/JPY>)
Gold USD/Toz)<Exchange Rate USD/JPY)<)<)<)<)<

Change in the dividend policy
Targeting a dividend payout ratio

To further expand Before change:
returns to
30% and above of the consolidated net income
shareholders
 After change:
50% and above of the consolidated net income (reflect from 2 quarter of FY2018 ‫ك‬ndEqual proportion ofgrowth investment andshareholders returns

Growthinvestment

Shareholders

returns

Simultaneous achievement of “the mid- and longterm growth and development,” and “profit
distribution to the shareholders”
6Trend in dividend / ROE(Unit: JPY )FY2015
AnnualDividend

FY2016FY2017FY2018FY2018previous forecast

revised forecast

6060

6374120

Payout Ratio

68.6%

ٕ

23.3%

30.8%

50.0%

EPS

87.48

(37.24)270.77239.90239.90ROE

5.8%(2.6%)

17.3%

14.1%

14.1%

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Medium-term financial indicators
after reflecting the impact of change in the dividend policy

FY2017
Dividend payout
ratio

FY2018FY2019FY2020(forecast)(forecast)(forecast)

23.3%

50.0%

50.2%

50.5%

EPS

270.77 yen

239.90 yen

259.22 yen

277.01 yen

ROE

17.3٫

14.1٫

14.2٫

14.1٫

DOE

4.0٫

7.1٫

7.1٫

7.1٫

ROA

8.5٫

7.0٫

7.3٫

8.0٫

Equity ratio

49.0٫

50.5٫

51.8٫

61.4٫

7