SHOEI CO., LTD. Presentation. Nov.21,2007

Transcription

1 SHOEI CO., LTD. Presentation Nov.21,2007 1

2 Contents <1> The Fiscal Year Ended Sept.30,2007, and <3>Characteristics of SHOEI 14 Forecasts for The Fiscal Year Ending Sept.30, (1) Current Premium Helmet Market 14 (1) Consolidated Statements of Income 3 (2) Motorcycle Sales Figures of Main Countries 15 (2) Consolidated Sales Composition by Category 4 in Europe (Above 125cc) (3) Consolidated Sales Composition by Region 5 (3) New Products 16 (4) Factors of Ordinary Income Increase 6 (4)Ranking of System Helmets in Germany 17 (5) Capital Expenditures and Depreciation 7 <4>Past Performance 18 (6) Consolidated Balance Sheets 8 (1) Company Strength Index 19 <2>Company Profile 9 (2)Total of Cash and Cash Equivalents, 20 (1) Company History (2) Factories Long Term Deposits and Dividend per Share (3) Marketing Areas of Consolidated Subsidiaries 12 (4)Sales for New Markets (QTY) 13 2

3 The Fiscal Year Ended Sept.30,2007, and Forecasts for The Fiscal Year Ending Sept.30,2008 (1)Consolidated Statements of Income Net Sales Operating Income Ordinary Income Net Income Net Income per Share Dividend per Share Oct.05 -Sept.06 11,796 2,310 2,117 1, Oct.06 -Sept.07 13,586 2,942 2,751 1, Changes from Previous year(%) Oct.07 -Sept.08 Forecast 14,300 2,950 2,850 1, (Millions of Yen) Changes from Previous year(%) Note: 1. Per share data for the 2006 and 2007 fiscal years are calculated using the weighted average number of shares outstanding. Per share forecasts for the 2008 fiscal year are calculated using the assumed yearend number of shares outstanding. 2.The assumed exchange rates for the 2008 fiscal year are USD/JPY = and EUR/JPY = The company has made the decision of a 2-for-1 stock split, whose record date will be Dec. 31, Per share forecasts for the 2008 fiscal year have been adjusted for this stock split

4 (2) Consolidated Sales Composition by Category Other Helmets 0.0% Others 7.6% Helmets for Government Use 1.0% Helmets for Motorcycles 91.3% Helmets for Motorcycles Helmets for Government Use Other Helmets Others Total Oct.05 -Sept.06 10, ,796 Oct.06 -Sept.07 12, ,034 13,586 Changes from Previous year(%) Oct.07 -Sept.08 Forecast 13, ,300 (Millions of Yen) Changes from Previous year(%)

5 (3) Consolidated Sales Composition by Region (Millions of Yen) 15,000 12,000 9,000 6,000 Overseas(78.1%) Overseas(78.1%) 9,218 9,218 Total Total11,796 Exchange rate US$= EUR= Other Areas(3.8%) 450 North America(25.0%) 2,945 Europe(49.4%) 5,822 Total Total13,586 (changes (changes +1,789) +1,789) Exchange rate US$= EUR= Other Areas(4.0%) 538(changes +87) North America (22.9%) 3,104(changes +159) Total Total14,300 (changes (changes +713) +713) Exchange rate US$= ( 3.41) EUR= (+ 2.25) Other Areas(3.8%) 550(changes +11) North America (20.8%) 2,970(changes 134) Overseas(81.1%) Overseas(81.6%) Overseas(81.1%) Overseas(81.6%) 11,023(changes+1,805) 11,670(changes+646) 11,023(changes+1,805) 11,670(changes+646) Europe(54.4%) Europe(57.0%) 7,380(changes +1,558) 8,150(changes +769) 3,000 0 Japan(21.9%) 2,578 Japan(18.9%) 2,562(changes 16 ) Japan(18.4%) 2,630(changes +67 ) Oct.05-Sept.06 Oct.06-Sept.07 Oct.07-Sept.08 Forecast 5

6 (4)Factors of Ordinary Income Increase (Millions of Yen) 2,800 2,700 Administration Sales Costs 209 2,600 2,500 2,400 2,300 2,200 Foreign Exchange Profit +128 Production Costs 405 Subsidiaries Profit( ) +354 Others 1 2,751 ( +634 ) 2,100 2,000 1,900 2,117 Oct.05-Sept.06 Sales +768 ( )This is the amount after excluding the increased portion of the profit not yet realized (10 Million Yen). Oct.06-Sept.07 6

7 (5) Capital Expenditures and Depreciation (Millions of Yen) Oct.05-Sept.06 Oct.06-Sept.07 Oct.07-Sept.08 Capital Capital Expenditures Expenditures Changes from Previous year Depreciation Depreciation Changes from Previous year

8 (6)Consolidated Balance Sheets (Millions of Yen) Sept.30,2006 Sept.30,2007 Cash and Cash Equivalents 2,131 2,894 ( +762) Account Receivable 1,381 1,769 ( +388) I n v e n t o r i e s 1,405 1,516 ( +111) Other Current Assets ( +93) Total Current Assets 5,480 6,836 (+1,353) Long Term Deposits ( +500) Total Fixed Assets 2,024 2,575 ( +550) T o t a l A s s e t s 7,505 9,411 (+1,906) Current Liabilities ( B a n k L o a n s ) 2,364 ( ) 2,777 ( ) ( +412) ( ) Fixed Liabilities ( B a n k L o a n s ) 141 ( ) 220 ( ) ( +79) ( ) Total Liabilities 2,505 2,998 ( +492) Total Shareholders' Equity ( Common Stock) (Treasury Stock at Cost) 4,927 (1,394) ( 229) 6,188 (1,394) ( ) (+1,260) ( ) ( +229) Total Net Assets 4,999 6,413 (+1,414) Total Liabilities, and Total Net Assets 7,505 9,411 (+1,906) 8

9 <2>Company Profile (as of Sept. 30, 2007) Company Name Established on Paid-up Capital President Number of Employees Head Office Line of Business Factories Subsidiaries SHOEI CO., LTD. March 17, ,394 Million Yen Masaru Yamada , Ueno, Taito-ku, Tokyo Manufacturing and Sales of Helmet Ibaraki and Iwate 4 in Overseas (3 in Europe and 1 in U.S.A.) 9

10 (1) Company History Mar Jan Aug SHOEI KAKO CO., LTD. Established with Paid-up Capital of 0.6 Million Yen Production of Helmet started in Tokyo Factory (closed in March 1993) Helmet for Motorcycles started Ibaraki Factory established Jul Jul Apr Jun May Sept Dec Mar Mar May Oct SHOEI SAFETY HELMET CORPORATION established SHOEI FRANCE S.A.R.L. (changed to SHOEI EUROPE DISTRIBUTION S.A.R.L. in March 2001) established Iwate Factory established Obtained Minami-Konashi Painting Co., Ltd. as subsidiary Filed a Relief by Bankruptcy Act (similar to Chapter 11 of Bankruptcy Code in U.S.A.) Application of above Act decided by Court Rehabilitation Plan approved by Court SHOEI (EUROPA) GMBH established Rehabilitation of Company completed Company Name changed to SHOEI CO., LTD. SHOEI EUROPA DISTRIBUTION DEUTSCHLAND (changed to SHOEI DISTRIBUTION GMBH in July 2004) established Jul Apr Sept Listed on JASDAQ Amalgamation of Minami-Konashi Painting Co., Ltd. Listed on Tokyo Exchange Exchange, 2nd Section 10

11 (2)Factories Ibaraki Factory Iwate Factory Production Capacity :750pcs per day (+7.1%:Compared with Previous year) Mostly High-End Products and Domestic Products. Production Capacity :1,450pcs per day (+11.5%:Compared with Previous year) Mostly Overseas Products. 11

12 (3)Marketing Areas of Consolidated Subsidiaries CENTRAL ASIA ラトビア LATVIA LITHUANI NETHERLANDS BELGIUM GERMANY ドイツ POLAND ポーランド CZECH チェコ LUXEMBOURG スロバキア SLOVAKIA FRANCE オーストリア AUSTRIA SLOVENIA クロアチア CROATIA ベラルーシ BELARUS UKRAINE ウクライナ ルーマニア ROMANIA KAZAKHSTAN PORTUGAL BOSNIA and HERZEGOVINA セルビ SERBIA ア MONTENEGR ブルガリア BULGARIA UZBEKISTAN MACEDONI LEBANO EUROPE SED SD Scheduled Countries where Sales Started this Year: LITHUANIA, LEBANON, MACEDONIA, BULGARIA, MONTENEGRO, SERBIA, BOSNIA AND HERZEGOVINA (7 Countries) 12

13 (4)Sales for New Markets (QTY) (pcs) 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1, ,179 4,441 3,933 4,036 3,462 3,330 3,022 2,478 1,994 1, Greece Denmark Russia Brazil Oct.05-Sept.06 Oct.06-Sept.07 Oct.07-Sept.08(Forecast) 13

14 <3>Characteristics of SHOEI (1) Current Premium Helmet Market (50.8 Billions of Yen : Changes from Previous year +12.5%) North America 22.2% Other Areas 4.9% (2.4 Billions of Yen:+11.1%) Japan 12.5% (11.3 Billions of Yen:+13.1%) (6.3 Billions of Yen:-7.0%) 46.1% SHOEI 53.9% (+0.8%) Europe 60.4% (30.6 Billions of Yen:+17.4%) Note: Amount is based on retail prices. 14

15 (2)Motorcycle Sales Figures of Main Countries in Europe (Above 125cc) (Figures) 600, , , , ,000 U.K イギリス Germany ドイツ France フランス Italy イタリア Spain スペイン 100,

16 (3)New Products MULTITEC HORNET-DS DS System Helmet On Road and Off Road Type 16

17 (4) Ranking of System Helmets in Germany Source:MOTORRAD 17

18 <4>Past Performance (Millions of Yen) 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2, ,575 9, Oct.02- Sept.03 Net Sales Ordinary Income Net Income 1, Oct.03- Sept.04 10,661 11,796 13,586 2,117 2,751 1,510 1, ,248 Oct.04- Sept.05 Oct.05- Sept.06 Oct.06- Sept.07 Earnings per Share Ordinary Income Ratio on Net Sales 7.3% 13.2% 14.2% 18.0% 20.3% Net Income Ratio on Net Sales 4.0% 7.5% 8.3% 10.6% 12.0% Return on Equity 15.2% 20.9% 22.5% 25.0% 25.4% 18

19 (1) Company Strength Index Oct.03- Sept.04 Oct.04- Sept.05 (Millions of Yen) Oct.05- Sept.06 Oct.06- Sept.07 Ordinary Income Ratio on Total Assets 21.4% 24.0% 28.2% 29.2% Shareholders Equity Ratio 58.5% 63.0% 66.6% 68.1% Consolidated Company Strength Index 1,251.7% 1,512.6% 1,879.5% 1,992.5% Ordinary Income 1,282 1,510 2,117 2,751 Shareholders Equity 3,504 3,963 4,999 6,413 Total Assets 5,992 6,290 7,505 9,411 Ordinary Income Ratio on Total Assets 22.6% 24.2% 30.3% 28.7% Shareholders Equity Ratio 72.1% 71.2% 70.6% 72.1% Unconsolidated Company Strength Index 1,627.0% 1,723.2% 2,142.2% 2,065.1% Ordinary Income 996 1,158 1,819 2,008 Shareholders Equity 3,178 3,409 4,231 5,052 Total Assets 4,411 4,788 5,994 7,010 Note: Company Strength Index =Ordinary Income Ratio on Total Assets X Shareholders Equity Ratio 19

20 (2)Total of Cash and Cash Equivalents, Long Term Deposits and Dividend per Share Add Cash and Cash Equivalents, Long Term Deposits 5,000 (Millions of Yen) Dividend per Share 4,537 4,000 3, (Yen) 3,000 2,000 1,000 1, , , (Forecast) Note: Per share forecasts for the 2008 fiscal year have been adjusted for this stock split. 20