Aisin Corporation · TSE:7259
Aisin — Q1 FYE2022 Earnings Presentation
23 slides from Aisin's earnings presentation, Jul 30, 2021
Slide 1: Financial Results, 1st Quarter FYE2022
For the Fiscal year Ended March 31, 2022 1st Quarter (April 1, 2021 to June 30, 2021) Financial Results July 30th, 2021 AISIN CORPORATION July 30, 2021 / © AISIN CORPORATION All Rights Reserved.
Slide 2: FYE2022 1st Quarter Overview of Financial Results
FYE2022 1st Quarter Overview of Financial Results １. Revenue for FYE2022 1st quarter increased significantly compared to the same period of the previous year, which was affected by COVID-19, due to the operation recovery to the normal levels, despite that customer’s production decreased by the short
Slide 3: Consolidated Financial Results (FYE2022 1st Quarter)
Consolidated Financial Results (FYE2022 1st Quarter) July 30, 2021 / © AISIN CORPORATION All Rights Reserved. 2/21
Slide 4: 1st Quarter Results: Financial Summary
FYE2022 1st Quarter Results: Financial Summary （ ）shows rate to Revenue % 【Billion JPY】 FYE2021 1st Quarter FYE2022 1st Quarter Change rate Change Results Results % Revenue 555.2 - 977.5 - + 422.3 + 76.0 Operating Profit - 79.9 (-14.4) 59.8 (6.1) + 139.7 - Profit before income taxes - 73.7 (-13.3) 6
Slide 5: 1st Quarter: Revenue by Customer
FYE2022 1st Quarter: Revenue by Customer 【Billion JPY】 Mobility Revenue by Customer（Other OEMs） Energy solutions and others FYE2021 1Q FYE2022 1Q Customer Change Results Results 977.5 VW&Audi 51.6 64.8 +13.2 29.6 (3.0%) Stellantis 16.9 56.6 +39.7 VOLVO 20.0 31.6 +11.6 343.1 SUZUKI 16.9 27.4 +10.5 (3
Slide 6: 1st Quarter: Segment Information
FYE2022 1st Quarter: Segment Information FYE2021 1st Quarter Results FYE2022 1st Quarter Results 【Billion JPY】 Revenue（YoY+422.3） Operating Profit （YoY＋139.7） +109.4 +219.4 37.0 551.3 -0.4 +17.2 +96.4 11.2 10.8 +16.3 +1.9 331.9 10.4 +46.8 +8.3 +51.4 157.2 2.1 1.6 99.9 -0.3 88.6 91.6 60.8 80.2 -6.8 4
Slide 7: 1st Quarter: Analysis of Operating Profit
FYE2022 1st Quarter: Analysis of Operating Profit 【Billion JPY】 +10.0 +2.5 -7.8 +59.8 + 130.0 +5.0 -79.9 FYE2021 Sales & FX Impact Cost structure Structural Expenditure FYE2022 1Q Result Product mix Improvement reforms for Key areas 1Q Result etc. etc. Sales & FX Structural Expenditure for Breakdown
Slide 8: Consolidated Financial Forecast (FYE2022 2nd Quarter)
Consolidated Financial Forecast (FYE2022 2nd Quarter) July 30, 2021 / © AISIN CORPORATION All Rights Reserved. 7/21
Slide 9: 2nd Quarter Forecast: Financial Summary
FYE2022 2nd Quarter Forecast: Financial Summary （ ）shows rate to Revenue % 【Billion JPY】 FYE2021 2nd Quarter FYE2022 2nd Quarter Change rate Change Results Forecast % Revenue 1,455.9 - 2,050.0 - +594.1 +40.8 Operating Profit - 38.5 (-2.6) 130.0 (6.3) +168.5 - Profit before income taxes - 31.3 (-2.2)
Slide 10: 2nd Quarter: Revenue by Customer
FYE2022 2nd Quarter: Revenue by Customer 【Billion JPY】 Mobility Revenue by Customer（Other OEMs） Energy solutions and others FYE2021 2Q FYE2022 2Q Customer Change Results Forecast 2,050.0 VW&Audi 110.8 135.0 +24.2 59.0 (2.9%) Stellantis 65.4 126.7 +61.3 VOLVO 47.8 67.0 +19.2 1,455.9 SUZUKI 44.3 60.0
Slide 11: 2nd Quarter: Segment Information
FYE2022 2nd Quarter: Segment Information FYE2021 2nd Quarter Results FYE2022 2nd Quarter Forecast 【Billion JPY】 Revenue（YoY+594.1） Operating Profit （YoY＋168.5） +329.5 +130.3 1,175.0 82.5 +0.6 +24.8 +91.4 +62.5 +32.3 +2.9 20.0 22.0 845.5 +78.6 +11.7 19.4 305.0 215.0 3.3 213.6 2.2 185.0 182.7 0.4 170.
Slide 12: 2nd Quarter: Analysis of Operating Profit
FYE2022 2nd Quarter: Analysis of Operating Profit 【Billion JPY】 +21.0 +5.0 -20.0 +6.5 130.0 + 156.0 -38.5 FYE2021 Sales & FX Cost structure Structural Expenditure FYE2022 2Q Result Product mix Impact Improvement reforms for Key areas 2Q Forecast etc. etc. Sales & FX Structural Expenditure for Breakd
Slide 13: Reference information
Reference information July 30, 2021 / © AISIN CORPORATION All Rights Reserved. 12/21
Slide 14: CAPEX / Depreciation / R&D
CAPEX / Depreciation / R&D 【Billion JPY】 By Sub-group FYE2021 1Q FYE2022 1Q FYE2022 2Q By business company Result Result Forecast AISIN SEIKI-G 13.8 Powertrain 16.6 48.8 AW-G 14.7 Body 6.6 12.5 CAPEX Chassis & Vehicle ADS-G 7.2 Safety systems 13.3 27.0 Others 3.6 CSS* & Others 11.5 26.7 Total 39.4 T
Slide 15: 1st Quarter: Segment by Region
FYE2022 1st Quarter: Segment by Region 【Billion JPY】 FYE2021 1Q FYE2022 1Q Change Region Change Result Result FX Others Japan 331.9 551.3 ＋ 219.4 - +219.4 North America 60.8 157.2 ＋ 96.4 +2.8 +93.6 41.8 88.6 ＋ 46.8 +1.1 +45.7 Revenue Europe China 91.6 99.9 ＋ 8.3 +10.4 -2.1 Asia & Others 28.8 80.2 ＋
Slide 16: 2nd Quarter: Segment by Region
FYE2022 2nd Quarter: Segment by Region 【Billion JPY】 FYE2021 2Q FYE2022 2Q Change Region Change Result Forecast FX Others Japan 845.5 1,175.0 +329.5 - +329.5 North America 213.6 305.0 +91.4 +2.3 +89.1 122.5 185.0 +62.5 +1.5 +61.0 Revenue Europe China 182.7 215.0 +32.3 +18.0 +14.3 Asia & Others 91.4
Slide 17: Highlights of Financial Performance
Highlights of Financial Performance R&D expenditure Revenue／Operating Profit／Operating profit margin ／Ratio of R&D expenditure to revenue Revenue Operating Profit Operating profit ratio R&D expenditure Ratio of R&D expenditure to revenue 【%】 【Billion JPY】 【%】 【Billion JPY】 4,043.1 202.1 205.8 3,950.
Slide 18: Toyota production・Powertrain Unit Sales
Toyota production・Powertrain Unit Sales 【10,000 Unit】 Toyota production Volume Powertrain Unit Sales Volume （）shows number of E-Four(capacity of intermediate and above) Domestic Overseas 983 999 904 888 892 906 893 （8） 816 578 591 567 526 314 315 326 290 FYE2018 FYE2019 FYE2020 FYE2021 FYE2018 FYE20
Slide 19: Half Yearly Performance
Half Yearly Performance Revenue Revenue Powertrain Unit sales （）shows number of E-Four (capacity of intermediate and above) 【10,000 Unit】 【Billion JPY】 531 523 516 （6） 506 （8） 493 446 458 467 2000.0 357 （2） 1000.0 1,855.1 2,053.8 1,994.4 2,048.7 1,913.7 1,870.8 2,069.8 2,050.0 1,455.9 0.0 1H 2H 1H 2
Slide 20: Quarterly Performance
Quarterly Performance Revenue Revenue Powertrain Unit sales （）shows number of E-Four(capacity of intermediate and above) 【10,000 Unit】 【Billion JPY】 274 280 1,800.0 （3） 258 243 （4） 258 258 260 246 246 247 220 （3） （4） 233 234 226 236 222 220 （2） 1,200.0 137 （0） 600.0 1,072.5 917.0 938.0 1,023.5 1,030
Slide 21: Capital policy
Capital policy Our core capital policy is to maximize corporate value by maintaining the balance between “financial safety” and “capital efficiency”. We regard capitalization ratio*1 as an important financial index to assess our capital structure, and believe the ratio from 25% to 30% represents opt
Slide 22: Return to Shareholders
Return to Shareholders Our “Return to shareholders” policy is to achieve steady dividend payout with a dividend payout ratio of around 30%. We also consider to repurchase Treasury Stock based on our capitalization ratio and future investment trends. Profit before income taxes／ EPS Dividends per shar
Slide 23: Note on future predictions
【Note on future predictions 】 Excluding matters related to past and current facts, the business results forecasts and forward-looking estimates, strategies and targets disclosed by the Company are estimates regarding the future. These estimates are formulated from plans, expectations and judgments m