Good evening, everyone. This is Hideki Somemiya, CFO of Showa Denko. Thank you very much for your continued interest in our business performance. I would like to present the financial results of the third quarter FY 2022. Please turn to page two for summary. There are two main points. First, the summary of the third quarter business results, the second, the downward revision of the full-year forecast. As for the summary of the third quarter results, quarterly operating income from July to September decreased JPY 7.9 billion, down 32%. It was mainly due to chemicals segment profit decrease of JPY 5.4 billion. The total sales from January decreased JPY 17.5 billion, down 2% year-on-year. Operating income decreased JPY 18.4 billion, down 26% year-on-year.
Excluding the impact of transferred business on the previous year's results, based on the ongoing businesses, net sales from January to September increased JPY 123.8 billion, up 14% year-on-year. Operating income decreased by JPY 6.6 billion, down 11%. As for the downward revision of the full-year forecast, considering changes in external business environment, including a demand slowdown in semiconductor and electronic materials segment, oil price decline, and the deteriorated spread in chemicals segment, and time lag in cost pass-through for raw material cost, we revised downward the full-year performance forecast this time. Net sales will be JPY 1.41 trillion, and operating income will be JPY 56 billion for the full year after revision. Compared to the forecast announced in August, sales went down JPY 90 billion, down 6%. Operating income went down JPY 28 billion, down 33%, showing the substantial downward revision.
This downward revision of the full-year forecast is backed by the rapid change in business environment from July to September. In July to September, environment deteriorated more than our expectation, including production adjustment of the semiconductor back-end customers, inventory adjustment in HD media for data center, and oil price decline. In our semiconductor materials business, due to the inventory adjustment of the semiconductor customers, achieving the initial plan has become difficult. We had to revise downward the full-year forecast. As management, I take this fact extremely seriously. We assume there would not be major changes in mid- to long-term strategy to compete globally and in the industry trend as a basis for the strategy. However, in order to gain trust from investors, we will move the necessary actions forward with increased sense of crisis.
To be more specific, we will bring forward the structural reform in automotive parts business in mobility segment. We will accelerate the review of sweeping structural reform with no sacred cows in the entire company. Please turn to page three for the consolidated results summary. Consolidated results from January to September are shown in year-on-year comparison. Please turn to the table on the left. In January to September period, net sales were JPY 1,034.2 billion, down JPY 17.5 billion, or 2% year-on-year. Operating income was JPY 53.5 billion, down JPY 18.4 billion, or 26% year-on-year. Ordinary income was JPY 64.1 billion, down JPY 9.2 billion, or 13% year-on-year. With the decrease in extraordinary loss, net income attributable to owners of the parent was JPY 39.7 billion, up JPY 50 billion year-on-year. Table on the right shows the year-on-year comparison based on the ongoing businesses.
Net sales increased JPY 123.8 billion, up 14% year-on-year. Operating income decreased JPY 6.6 billion, down 11%. EBITDA decreased JPY 6.7 billion, down 4.7%, and the EBITDA margin to sales worsened 2.5 points. Please turn to page four for operating income breakdown by factor. This chart shows the analysis of operating income variance of JPY 18.4 billion between JPY 53.5 billion of this year from January to September, and JPY 71.9 billion for the same period of 2021. Operating income of ongoing business is JPY 60.2 billion, excluding the impact of business transfer, JPY 11.7 billion from JPY 71.9 billion of operating income from January to September in the previous year. Volume impact was -JPY 4 billion. Change in raw material prices were +JPY 11.5 billion.
This combines the cost increase with raw material cost increase, selling price hike, and foreign exchange impact by depreciation of JPY. Graphite electrode reversal gain impact from the lower of cost or market method application in the previous year was -JPY 18.3 billion, as a reversal gain of JPY 18.3 billion was posted in the previous year. With its absence this year, profit decreased. Others, +JPY 4.1 billion, includes feedstock adjustment of graphite electrode, among others. Please turn to page five for sales and operating income by segment. Sales and operating income by segment are shown on year-on-year basis. Semiconductor and electronic materials segment sales and profit increased, but in three segments of mobility, innovation-enabling materials, and chemicals, sales increased but profit decreased.
Others and adjustment in the previous year include the sales and profit of energy storage device and system, aluminum can, aluminum roll product, which were transferred during the previous fiscal year, and SHOKO CO., LTD., which was deconsolidated with reduced stakes. From page six to eight, sales and operating income by segment are shown more in detail. In performance overview column on the right, details are described. Please refer to them later. Let me comment on the summary here. As for the semiconductor and electronic materials segment on page six, as mentioned at the beginning, with production adjustment in the back-end semiconductor process and further inventory adjustment in hard disk media, in July to September, sales and profit decreased slightly quarter-on-quarter.
When you look at the January to September total, backed by the robust demand from the beginning of the year, sales increased 7% and profit increased 15% year-on-year. We have a green prospect for the fourth quarter. As I will elaborate later, segment operating income forecast is revised downward by JPY 15 billion from the announcement on August 4th. As for the mobility segment on page seven, with the automobile production recovery from the third quarter, sales increased 3% year-on-year. Operating loss was incurred due to amortization of goodwill with consolidation of Showa Denko Materials, in addition to the material cost surge. As for innovation-enabling materials segment on page eight, sales increased 1% year-on-year due to selling price increase with a raw material cost surge. Cost pass-through was not sufficient and profit decreased 36%.
In Chemicals Segment, sales increased 24% year-over-year and profit decreased 37%. Chemical sales were boosted by naphtha price hike and graphite electrode price increase, and profit decreased due to tighter spread due to eased supply-demand balance. Please turn to page nine for non-operating income and expenses and extraordinary profit and loss on year-over-year basis. Non-operating income and expenses improved JPY 9.2 billion year-over-year, and it is mainly due to foreign exchange gain by depreciation of yen. Extraordinary profit and loss improved JPY 47.5 billion year-over-year in net, and it is mainly due to the decrease in loss. In the previous year, business restructuring expenses of JPY 32.8 billion in energy storage devices business was material, followed by the decrease in loss on sales of businesses, JPY 6.9 billion.
Another major topic was gain on sales of investment securities in strategic shareholding, +JPY 2.7 billion. Please turn to the full year forecast for 2022. We disclose a revision of the full year forecast for FY 2022 today. As mentioned at the beginning, compared to the forecast at the second quarter results, we revised downward the sales and profit forecast. After revision, sales forecast is JPY 1,410 billion, down JPY 90 billion or 6% from the previous forecast. Operating income full year forecast is JPY 56 billion, down JPY 28 billion or 33% from the previous forecast, reflecting the business environment deterioration in Semiconductor and Electronic Materials and the Chemicals Segment in the second half.
In the column below operating income, improvement in non-operating income with foreign exchange gain and improvement in extraordinary profit and loss due to decrease in extraordinary loss compared to the previous forecast are reflected. Due to these, net income attributable to owners of the parent for the full year forecast is JPY 22 billion, down JPY 10 billion or 31% from the previous forecast. Please turn to page 11 for sales and operating forecast for the full year by segment. As for sales, we had to make substantial downward revision in Semiconductor and Electronic Materials and Chemicals Segment. Out of the total JPY 90 billion sales decrease forecast, Semiconductor and Electronic Materials decrease is JPY 30 billion and Chemicals JPY 45 billion. In operating income as well, revision in Semiconductor and Electronic Materials and Chemicals account for major parts.
Out of the total JPY 28 billion profit decrease, Semiconductor and Electronic Materials decrease is JPY 15 billion and Chemicals JPY 12 billion. Please turn to page 12 for consolidated balance sheet. As for assets, as of this quarter end, cash and deposit intangible fixed assets, including goodwill, decreased. Inventories increased partly due to raw material cost surge, and the tangible fixed assets also increased due to CapEx. Total assets increased JPY 55.2 billion from the end of the previous fiscal year to JPY 2,197.6 billion. We are trying hard to cut back the inventories toward the end of the fiscal year. As for liabilities, interest-bearing debt increased as we financed through the subordinated loan for the repurchase of preferred stock in the first half, the total liabilities increased JPY 259.7 billion from the end of the previous fiscal year to JPY 1,583.6 billion.
As for net assets, shareholders' equity increased JPY 16.5 billion and the total accumulated other comprehensive income increased JPY 58.2 billion, while non-controlling interest of preferred stock decreased substantially corresponding to the interest-bearing debt increase as mentioned. On the other hand, foreign currency translation adjustment increased due to the depreciation of JPY, and the total net assets decreased JPY 204.5 billion to JPY 614 billion. net D/E ratio, one of our KPIs, improved 0.08 points to 1.07 times, and the equity ratio improved 2.8 points to 26.8%. This improvement is backed by the increase in total net assets due to the increase in foreign currency translation adjustment. Please take note that these equity-related indicators are affected by the fluctuation in the foreign exchange market. Let me add one more point.
As described in the footnote, 50% of the preferred stocks and subordinated loan are considered as equity capital in net D/E ratio calculation. It is based on the credit rating given by Japan Credit Rating Agency. Skipping a few pages, please turn to page 20 for topics. As shown in the second column from the top, JCR announced the upgrading of credit rating on Showa Denko on October 4th from single A minus to single A flat. We think that improvement in financial structure and realization of consolidated management effect with Showa Denko Materials were positively assessed. In semiconductor and electronic materials, sample shipment of 200 mm SiC epi-wafers started, and we are investing for capacity expansion in semiconductor materials business from the mid- to long-term perspective.
In mobility business, where structure reform is ongoing in the internal combustion engine components, we completed a transfer of ISOLITE, an European thermal insulation manufacturer. Please come back to the top line. At the extraordinary general meeting of shareholders on September 29th, the resolutions were passed to transform itself to holding company structure, change trade names, and partially amend articles of incorporation. Newly integrated company, Resonac, will start on January 1st, 2023. After the transformation into Resonac, we sincerely wish to have your continued support. This concludes my presentation. Thank you very much for your attention