Jun. 1, 2022 - According to the financial result released by Shinagawa Refractories on late May, Shinagawa’s revenue for the fiscal year 2021-22 (i.e. April 1, 2021 - March 31, 2022) was 110.784 billion yen, a year-on-year increase of 10.8% compared with the previous fiscal year; operating income was 10.107 billion yen, a year-on-year increase of 38.7%; ordinary income was 10.716 billion yen, a year-on-year increase of 30.4%; net income attributable to owners of the parent company was 5.308 billion yen, a year-on-year increase of 151.1%, mainly due to an increase in demand for refractory materials caused by an increase in crude steel production in Japan.
In the steel industry, which is the largest demand destination in the refractory industry, Japan's crude steel production for the full year increased by 15.5% year-on-year to 95.64 million tons due to the recovery of steel demand.
For the refractories and related products sector, Shinagawa’s sales was 84.901 billion yen, a year-on-year increase of 10.8%.
For the project sector, due to the increase in construction of steel plant in the fiscal year 21-22, its sales increased by 15.8% YoY to 24.898 billion yen.
For the other sectors, its sales in the fiscal year 21-22 were 984 million yen, a decrease of 45.8% over the previous fiscal year.