FY2013 Financial Results

Transcription

1 FY213 Financial Results May 15 th, 214 Calsonic Kansei Corporation President & CEO Hiroshi Moriya 1

2 Financial Outline <12-month accumulated total> Sales (Value-added sales) Operating profit * (Operating profit ratio) Ordinary profit *(Ordinary profit ratio) Net profit *(Net profit ratio) FY12 Actual (A) (12/4-13/3) 7,69 (4,781) 98 (2.%) 128 (2.7%) 55 (1.2%) Actual (B) (13/4-14/3) 9,187 (5,743) 288 (5.%) 295 (5.1%) 25 (4.4%) (1 millions of JPY) Variance (B)-(A) +1,578 (+962) *Profit ratios are calculated based on value-added sales(note) Retroactive adjustment is made on FY12 figures due to accounting system revision FX rate $ Achieved record-high profit with sharp sales/profit increase from FY12 2

3 Sales History <FY1-> (1M of JPY) (*) Internal management figures are used for pass-through parts 1, 8, Pass-through parts/ Catalysts Value-added sales 7,482 7,823 7,69 9,187 3,444 Variance analysis Effects of exchange fluctuation + 1,173 6, 2,271 2,738 2,828 Effects of operation capacity, etc , 2, 5,211 5,85 4,781 5,743 FY1 FY11 FY12 3

4 Sales History by Region (1M of JPY) 4, 3,882 3, Pass-through parts/catalysts 3, 2,956 +1,23 In-house (based on VAS) 2, 1,933 1,584 1, , 2,488 2,53 FY12 1,75 FY12 1, , ,34 North Japan Europe America Asia 1,613 Production volume increased at overseas Regions. New models have launched smoothly with thorough Monozukuri (manufacturing) process FY12 FY12 4

5 Operating Profit History by Region (1M of JPY) (Note) Retroactive adjustment is made on FY12 figures due to accounting system revision FY FY12 FY12 North America -9 FY12 Japan Europe Asia Lowered break-even point / Currency benefit Volume increase contributed to profit increase Advance investment for new site launch & production preparation CHN: Volume recovery, THA: Operational efficiency improvement / Export biz 5

6 Operating Profit Variance Analysis <FY12 - > (1M of JPY) Effects of exchange fluctuation +82 Effects of operational efficiency +75 Rationalization, etc. +54 Fixed cost / R&D cost increase - 61 Others, onetime expense, etc. +4 Operating profit FY12 Operating profit 98 (Note) Retroactive adjustment is made on FY12 figures due to accounting system revision 6

7 Ordinary Profit, Net Profit <12-month accumulated total> FY12 Actual Actual Operating Profit Non-operating Profit 3 7 Detail ( Actual) FX gain +37 Derivative loss -22 Ordinary Profit Extraordinary Profit/Loss PBT Taxes Corporate tax, etc. -35 Net Profit (Note) Retroactive adjustment is made on FY12 figures due to accounting system revision In addition to sharp operating profit increase, net profit also increased due to the 214 Calsonic reassessment Kansei Corporation All Rights of Reserved deferred tax assets. 7

8 CAPEX, Depreciation, R&D Cost 12-month accumulated total (1M of JPY) CAPEX (1M of JPY) R&D Cost Depreciation FY1 FY11 FY12 FY1 FY11 FY12 CAPEX on sales (VA sales) R&D on sales 2.9% 4.2% 5.2% 5.1% 4.% 4.6% 5.% 4.7% (VA sales) 8

9 FY214 Forecast 9

10 FY214 Anticipated Issues & Mitigation Plans Japan Region production decrease Secure profit by lowering the Japan Region s break-even point as production decrease is expected in the region Market slowdown in emerging countries Strengthen the emerging countries business foundation in order to tap into their mid-term market growth Tapering of currency benefits Establish well-balanced profit structure between the Japan Region and the Global Regions so as to be capable of mitigating currency fluctuation risks Despite severe situation in Japan, Global profit is expected to increase 1

11 FY214 Financial Forecasts (1 million on JPY) Sales (Value-added sales) Operating profit * (Operating profit ratio) Ordinary profit *(Ordinary profit ratio) Net profit *(Net profit ratio) Actual (A) (13/4-14/3) 9,187 (5,743) 288 (5.%) 295 (5.1%) 25 (4.4%) FY14 Forecast (B) (14/3-15/4) 9,4 (5,8) 3 (5.2%) 29 (5.%) 2 (3.4%) Variance (B) (A) +213 (+57) *Profit ratios are calculated based on value-added sales (Note) Retroactive adjustment is made on FY12 figures due to accounting system revision FX rate $

12 Sales Forecast by Region (1million of JPY) 4, 3, 3,871 3, ,956 3, Pass-through parts, Catalysts In-house (based on VAS) 2, 1,953 2, , 2,53 2,25 1,642 1,8 1,47 1, ,613 1,75 FY14 Forecast FY14 Forecast FY14 Forecast North Japan Europe America Asia FY14 Forecast 12

13 Operating Profit Variance Analysis < Actual vs. FY14 Forecast> 3 (1M of JPY) Effects of exchange fluctuation +3 Effects of operational efficiency +18 Rationalization, etc. +24 Fixed cost, R&D cost increase -2 Others Actual 288 FY14 Forecast 3 13

14 CAPEX, Depreciation, R&D Cost FY14 Forecast (1M of JPY) CAPEX (1M of JPY) R&D Cost Depreciation CAPEX on sales (VA sales) FY11 FY12 FY14 Forecast 4.2% 5.2% 5.1% 3.8% (VA sales) 4.6% 5.% 4.7% 4.9% R&D on sales FY11 FY12 FY14 Forecast 14

15 Sales Expansion Sales Progress (Image) <Major examples of newly-won 1, (1M of JPY) business in (from OEMs other than Nissan)> Japanese OEM (Global model) Electronic parts 9,4 9,187 New business from OEM other than Nissan is expected to expand Japanese OEM (Global model) Compressor, Heat exchanger European OEM A/C, Exhaust, Heat exchanger Non-Nissan business (Incl. non-japanese OEMs) Nissan business - New business FY14 Forecast Steadily proceeding toward CK GX4 T1 goals 15

16 Global Top 1 Automotive Suppliers in Sales(over 1 Trillion yen) Global Top 1 Automotive Suppliers in Operating Profit (7%+ OP Rate* 1 ) *1: OP on Value-added sales (1M of JPY) (%) (%) 9,187 9,4 1, 7. 7,482 7,823 7, , Achieved V-shaped recovery and came back on a growth track FY9 FY1 FY11 FY12 FY14 FY9 FY1 FY11 FY12 FY

17 Plans, strategies, opinions and other statements regarding Calsonic Kansei Corporation stated in this document, other than historical facts, are forward-looking statements, which include risks and uncertainty. Please note the actual results may differ from the statements in accordance with the future economic condition, market trends, exchange fluctuation, and other important aspects. The statements in this documents are developed based on the purpose to provide information, and not to solicit investment. This document is the copyright of Calsonic Kansei Corporation. Reproduction or use of any copy without permission is prohibited. 17