Mikuni Corporation · TSE:7247
Mikuni — FY2022 Earnings Presentation
26 slides from Mikuni's earnings presentation, Jun 5, 2023
Slide 1: Financial Results Briefing for the Fiscal Year ended March 31, 2023
(Reference Translation) Financial Results Briefing for the Fiscal Year ended March 31, 2023 June 5, 2023 証券コード Securities : 7247 code: 7247 identification Copyright(c) 2021 MIKUNI CORP. All Right Reserved.
Slide 2: Agenda and Speakers
Financial Results Briefing June 5, 2023 Monday 14:00-15:00 at Mikuni Building Agenda 1. Consolidated Financial Results for the Fiscal Year ended March 31, 2023 2. Forecast for the Fiscal Year ending March 31, 2024 3. Mid-to-long term Initiatives 4. Q&A Session Speakers Hisataka IKUTA President, CEO
Slide 3: Consolidated Financial Results for the Fiscal Year ended March 31, 2023
Consolidated Financial Results for the Fiscal Year ended March 31, 2023 Note Our fiscal year begins on April 1 of each year and ends on March 31 of the following year. Copyright(c) 2021 MIKUNI CORP. All Right Reserved. 3
Slide 4: Mikuni's Business Segments
FY ended March 31, 2023 Mikuni's Business Segments Net Sales and Composition Ratio by Business Segment 3% Other Business Automotive- 82% related Products Welfare vehicles, Nursing equipment Turf-care Equipment 5% Others Turf-care2,509 ≫ for Four-wheelers Sales of Turf-care equipment etc. 4,806 Aircr
Slide 5: Financial Highlights
FY ended March 31, 2023 Financial Highlights Fiscal Year ended March 31, 2023 (April 2022 - March 2023) • Consolidated sales* recovered to pre-COVID levels, driven by increased sales in the automotive- related products business. • Operating and ordinary income declined due to insufficient price pass
Slide 6: Financial Highlights (continued)
FY ended March 31, 2023 Financial Highlights *continued from the previous page OPERATING RESULTS BY SEGMENT Turf-care Equipment, etc. Sales Business • Double-digit revenue growth on the back of recovery in capital investment by customers, particularly golf courses. • Operating income returned to the
Slide 7: Net Sales and Operating Income by Business Segment
Net Sales and Operating Income FY ended March 31, 2023 by Business Segment Net Sales and Operating Income by Business Segment (FY ended March 31, 2022 and 2023) Change Change in Operating FY ended March 31, 2022 FY ended March 31, 2023 in Net Sales Income Operating Operating Net Sales Net Sales Inco
Slide 8: Transition of Quarterly Net Sales and Operating Income
Transition of Quarterly Net Sales FY ended March 31, 2023 and Operating Income (Millions of yen) 30,000 24,173 24,161 24,874 25,000 21,259 20,637 19,183 20,373 19,972 20,000 Net Sales 15,000 10,000 5,000 0 1,600 Operating Income (Loss) 1,307 1,183 1,200 1,057 901 719 800 514 415 308 400 0 2021.4-6 2
Slide 9: Comparison of the Past Three Fiscal Years
Comparison of the Past Three Fiscal Years (Reference) Net Sales and Operating Income by Segment (Previous Standard) (Millions of yen) Automotive Related Products Net Sales Operating Income 70,200 81,178 69,763 3,688 3,565 60,345 2,736 116 100 99 86 772 Size of sales with FY03/2020 as 100 March, 2020
Slide 10: Comparison of the Past Three Fiscal Years (continued)
Comparison of the Past Three Fiscal Years (Reference) Net Sales and Operating Income by Segment (Previous Standard) Aircraft Parts Import and Sales (Millions of yen) 28,733 Net Sales Operating Income 346 347 22,129 19,709 286 16,441 100 190 77 69 57 March, 2020 March, 2021 March, 2022 March, 2023 Ma
Slide 11: Summary of Income Statement
FY ended March 31, 2023 Summary of Income Statement Forecast for FY ended FY ended FY ended March 31, March 31, Change March 31, 2022 2023 (Millions of yen) 2024 Net sales 80,789 93,847 13,057 99,000 Operating income 3,318 3,089 (229) 4,000 Ordinary income 3,137 2,644 (492) 3,300 Net income attribut
Slide 12: Summary of Balance Sheet
FY ended March 31, 2023 Summary of Balance Sheet End of March End of March Change (Millions of yen) 2022 2023 in amount Current assets 51,010 53,402 2,391 Fixed assets 45,906 46,705 799 Total assets 96,917 100,108 3,191 Current liabilities 33,553 37,579 4,025 Fixed liabilities 31,444 30,330 (1,114)
Slide 13: Summary of Balance Sheet: Capital Ratio and Interest-Bearing Debt
FY ended March 31, 2023 Summary of Balance Sheet Transition of Capital Ratio 40.0% 30.0% 33.1% 32.1% 31.4% 28.6% 29.4% 20.0% March, 2019 March, 2020 March, 2021 March, 2022 March, 2023 Transition of Interest-Bearing Debt (Millions of yen) 50,000 44,000 36,568 35,734 38,000 35,363 33,627 32,000 30,02
Slide 14: Inventories Quarter-end Balance
FY ended March 31, 2023 Inventories Quarter-end Balance 1.1 billion yen increase from the end of the previous period (excluding the effect of exchange rate fluctuations: +0.3 billion yen) (Millions of yen) 30,000 25,186 25,359 25,000 24,358 21,372 22,494 8,493 9,188 19,077 8,466 20,000 15,983 7,483
Slide 15: Transition of Interest-Bearing Debt and D/E Ratio
FY ended March 31, 2023 Transition of Interest-Bearing Debt and D/E Ratio Interest-bearing debt at the end of the period was 35.7 billion yen. Although it increased by 0.4 billion yen from the end of the previous period, excluding the effect of exchange rates, it actually decreased by -0.1 billion y
Slide 16: Automotive Product Segment by Region (Reference)
(Reference) Comparison of Net Sales and Operating Income in Automotive Product Segment with the Last Two Fiscal Years (Previous Accounting Standard) (Millions of yen) ASEAN India 12,532 12,491 15,231 11,299 8,337 226 100 100 9,353 10,174 90 6,740 151 67 139 100 March, 2020 March, 2021 March, 2022 Ma
Slide 17: Transition of Cash Flow
FY ended March 31, 2023 Transition of Cash Flow Operating cash flow was positive 4,880 million yen. Investment cash flow was negative 5,441 million yen due to a large increase in expenditures for capital investment compared to the previous year. Free cash was slightly negative (Millions of yen) 10,0
Slide 18: Depreciation, Capital Investment and R&D Expenses
Depreciation, Capital Investment FY ended March 31, 2023 and R&D Expenses (Millions of yen) Depreciation and Capital Investment Depreciation Capital Investment 8,000 7,364 7,000 5,893 6,000 5,149 4,621 4,651 4,762 5,000 4,000 3,284 3,163 3,000 2,000 1,000 0 March, 2020 March, 2021 March, 2022 March,
Slide 19: Forecast for the Fiscal Year Ending March 31, 2024
Forecast for the Fiscal Year Ending March 31, 2024 Copyright(c) 2021 MIKUNI CORP. All Right Reserved. 19
Slide 20: Forecast for Net Sales and Operating Income by Business Segment
Forecast for Net Sales and Operating Income FY ending March 31, 2024 by Business Segment Net Sales and Operating Income by Business Segment (Results for the previous FY and forecast for the current FY) (Forecast) Change Change in Operating FY ended March, 2023 FY ending March, 2024 in Net Sales Inco
Slide 21: Summary of Income Statement and Forecast
Forecast for FY ending March 31, 2024 Summary of Income Statement Forecast for FY2021 ended FY2022 ended FY2023 ending March, 2022 March, 2023 March, 2024 (Millions of yen) Net sales 80,789 93,847 99,000 Operating income 3,318 3,089 4,000 Ordinary income 3,137 2,644 3,300 Net income attributable to
Slide 22: Mid- and Long-term Initiatives
Mid- and Long-term Initiatives Copyright(c) 2021 MIKUNI CORP. All Right Reserved. 22
Slide 23: Reorganization and Structural Reform of Production Sites in China
Reorganization and Structural Reform of Production Sites in China • Liquidation of Chengdu Mikuni and transfer of motorcycle parts production to Zhejiang Mikuni • Strengthening of Tianjin Mikuni's functions Oct. 2023 Plant expansion March 2023 Tianjin Mikuni Liquidation started Chengdu Mikuni ・Waste
Slide 24: Mobility business in India remains favorable
Mobility business in India remains favorable Expanding business with major local manufacturers in the world's largest motorcycle market In the four-wheel market, enhancing business base with customers such as Maruti Suzuki and Tata （Millions of yen) Sales by region (India) 18,000 16,000 14,000 1
Slide 25: Accelerating EV Initiatives
Accelerating EV Initiatives We will lift the sales ratio of EV products to higher than 70% of our automobile (four-wheeler) business segment by 2030 Our CCV is used in Nissan e-POWER Products for EV Our CCV (Coolant Control Valve) is used in the engine for the 2nd generation e-POWER of the new Ser
Slide 26: Disclaimer
Disclaimer 1. This document has been prepared on a consolidated basis. 2. This document summarizes the financial results and earnings forecasts that have already been announced, and is provided solely for the purpose of providing information to investors, and is not intended as a solicitation to buy