Aisin Corporation · TSE:7259

Aisin — FY2023 Earnings Presentation

31 slides from Aisin's earnings presentation, Apr 27, 2023

  1. Slide 1: Financial Results for the Fiscal Year Ended March 31, 2023

    For the Fiscal year Ended March 31 (April 1, 2022 to March 31, 2023) Financial Results April 27, 2023 AISIN CORPORATION For the Fiscal year Ended March 31, 2023 Financial Results/ 2023.4.27 / © AISIN CORPORATION All Rights Reserved.

  2. Slide 2: Overview of FYE2023 Financial Results

    Overview of FYE2023 Financial Results Revenue increased due to FX impact although a decrease in volume (net sales) compared to the previous year due to a shortage of semiconductors and the lockdown in China. Result Operating profit decreased due to the impacts of external environment such as the pro

  3. Slide 3: Consolidated Financial Results (FYE2023)

    Consolidated Financial Results (FYE2023) For the Fiscal year Ended March 31, 2023 Financial Results/ 2023.4.27 / © AISIN CORPORATION All Rights Reserved. 1

  4. Slide 4: FYE2023 Results Financial Summary

    FYE2023 Results Financial Summary （ ）shows rate to Revenue % 【 Billion JPY 】 FYE2022 FYE2023 Change rate FYE2023 Forecast Change Results Results ％ As of Feb. 3rd Revenue 3,917.4 - 4,402.8 - +485.4 +12.4 4,350.0 - Operating Profit 182.0 (4.6) 57.9 (1.3) -124.1 -68.2 90.0 (2.1) Profit before income ta

  5. Slide 5: FYE2023 Revenue by Customer

    FYE2023 Revenue by Customer Mobility 【 Billion JPY 】 Energy Solutions and others Revenue by Customer（Other OEMs） 4,402.8 FYE2022 FYE2023 Change 124.4 Customer Change 3,917.4 (2.8%) Results Results rate (%) 118.5 Stellantis 236.5 275.5 +39.0 +16.5 (3.0%) VW & Audi 218.8 177.2 -41.6 -19.0 1,436.2 SUZU

  6. Slide 6: FYE2023 Segment Information

    FYE2023 Segment Information FYE2022 Results FYE2023 Results 【 Billion JPY 】 Revenue（YoY＋ 485.4） Operating Profit（YoY-124.1） +47.5 -121.0 2,219.6 116.5 2,172.1 +13.4 -18.9 62.2 +228.6 48.8 814.3 +75.0 +3.2 34.9 +122.7 585.7 +11.5 -15.9 16.0 531.9 492.9 5.1 8.3 456.9 370.2 332.3343.8 -4.5 -16.6 -32.5

  7. Slide 7: FYE2023 Analysis of Operating Profit

    FYE2023 Analysis of Operating Profit 【vs. February 2023 announcement】 【 Billion JPY 】 【- 5.0】 182.0 - 90.0 【+ 0.0】 【- 3.5】 【- 2.0】 + 15.0 【+ 3.4】 - 31.5 【- 3.0】 【- 2.0】 + 43.0 - 27.6 【- 20.0】 【- 32.1】 - 58.0 + 45.0 - 20.0 57.9 FYE2022 Sales & Product Materials/ FX Impact Cost structure Structural Ex

  8. Slide 8: Consolidated Financial Forecast (FYE2024)

    Consolidated Financial Forecast (FYE2024) For the Fiscal year Ended March 31, 2023 Financial Results/ 2023.4.27 / © AISIN CORPORATION All Rights Reserved. 2

  9. Slide 9: FYE2024 Forecast Financial Summary

    FYE2024 Forecast Financial Summary （ ）shows rate to Revenue % 【 Billion JPY 】 FYE2023 FYE2024 Change rate Change Results Forecast % Revenue 4,402.8 - 4,600.0 - +197.2 +4.5 Operating Profit 57.9 (1.3) 190.0 (4.1) +132.1 +227.9 Profit before income taxes 73.7 (1.7) 200.0 (4.3) +126.3 +171.2 Profit for

  10. Slide 10: FYE2024 Revenue by Customer

    FYE2024 Revenue by Customer Mobility 【 Billion JPY 】 Energy Solutions and others Revenue by Customer（Other OEMs） 4,600.0 4,402.8 133.0 Customer FYE2023 FYE2024 Change Change rate 124.4 (2.9%) Results Forecast (%) (2.8%) Stellantis 275.5 290.0 +14.5 +5.3 VW & Audi 177.2 181.0 +3.8 +2.1 Other 1,493.0

  11. Slide 11: FYE2024 Segment Information

    FYE2024 Segment Information FYE2023 Results FYE2024 Forecast 【 Billion JPY 】 Revenue（YoY＋197.2） Operating Profit（YoY＋132.1） +165.4 +104.5 2,385.0 2,219.6 100.0 -4.2 +14.0 62.258.0 -39.3 -1.3 30.0 +53.1 814.3775.0 +17.1 +27.5 16.0 +1.2 585.0 8.3 7.0 531.9 492.9 510.0 345.0 343.8 -4.5 -5.0 -32.5 Japan

  12. Slide 12: FYE2024 Analysis of Operating Profit

    FYE2024 Analysis of Operating Profit 【 Billion JPY 】 +10.0 +8.1 190.0 +50.0 +55.0 -16.0 +5.0 +20.0 57.9 One-time costs FYE2023 (Expense for Sales & Product FX Impact Materials/ Cost structure Structural Fixed FYE2024 Results mix etc. Logistics cost Improvement reforms Forecast Structural reforms) ex

  13. Slide 13: Business Progress

    Business Progress For the Fiscal year Ended March 31, 2023 Financial Results/ 2023.4.27 / © AISIN CORPORATION All Rights Reserved. 3

  14. Slide 14: Electric Drive Unit Production

    Electric Drive Unit Production Electric drive unit production volume Electrification investment plans (cumulative) (Powertrain only, excludes brakes) 1st gen 2nd gen 3rd gen （Billion yen) (10,000 units) 200 eAxle HV HV・PHEV 2025 4.5 million units Cumulative investment 500 ratio by region (up to 2025

  15. Slide 15: Mobility Field Electrification Initiatives

    Mobility Field Electrification Initiatives AISIN aims to contribute to an increase in power consumption efficiency of BEVs owing to new products that realize “high efficiency” Electrical drive unit Heat management device eAxle Cooling module Contribute to a 10% increase in power Contribute to a cut

  16. Slide 16: Status of New Products

    Status of New Products Status of electrification products mounted Status of Sales Expansion AISIN Group‘s products adopted for new LEXUS 「RX」、「RZ」 Panoramic Sunroof adopted in Mercedes-Benz BEV models AISIN’s panoramic sunroof has been adopted in the first time EQS SUV and the EQE SUV, the flagship

  17. Slide 17: 3rd Generation eAxle

    3rd Generation eAxle Realize overwhelming high efficiency & size reduction via motor and gear train reforms Benchmark Conventional model 2nd gen ・ Increase power 3rd gen consumption efficiency Volume 体 3rd gen through higher efficiency 積 (Goal) and size reduction ・ Cut cost by standardizing units by

  18. Slide 18: Restructuring Business Portfolio for Sustainable Growth

    3 Restructuring Business Portfolio for Sustainable Growth Strategic businesses Next generation/new businesses Mainstay businesses Together • EV-related products Increase sales/ • Electrification-related products with • Products for relief, comfort, and competitive • Products related to comfort/conve

  19. Slide 19: Sustainability Management Initiatives

    Sustainability Management Initiatives （経済産業省・東京証券取引所） Received as Environmentally First time selected as Selected as Nadeshiko brands sustainable company bronze awards Outstanding integrated report for the third consecutive year by ESG finance awards Japan by GPIF's domestic equity managers （Ministr

  20. Slide 20: Reference information

    Reference information For the Fiscal year Ended March 31, 2023 Financial Results/ 2023.4.27 / © AISIN CORPORATION All Rights Reserved. 4

  21. Slide 21: Revenue Details (FYE2023 Results, FYE2024 Forecast)

    Revenue Details（FYE2023 Results・FYE2024 Forecast） （ ）shows composition ratio 【Billion JPY】 FYE2022 FYE2023 Forecast Change % Results Results As of Feb. 3rd Powertrain 2,234.3 (57.0) 2,452.6 (55.7) +218.3 +9.8 2,422.0 Chassis & Vehicle 766.7 (19.6) 897.0 (20.4) +130.3 +17.0 895.0 Mobility Safety syst

  22. Slide 22: CAPEX / Depreciation / R&D

    CAPEX / Depreciation / R&D 【Billion JPY】 FYE2022 FYE2023 FYE2024 By Business Resullts Resullts Forecast Powertrain 96.7 96.8 109.0 Chassis & Vehicle 46.6 42.0 52.0 CAPEX Safety systems Body 31.9 37.3 37.0 CSS* & Others 43.5 45.3 50.0 Total 218.7 221.4 248.0 Powertrain 138.3 145.4 139.0 Chassis & Veh

  23. Slide 23: FYE2023 Segment by Region

    FYE2023 Segment by Region 【Billion JPY】 FYE2022 FYE2023 Change Region Change Results Results FX Others Japan 2,172.1 2,219.6 +47.5 - +47.5 North America 585.7 814.3 +228.6 +139.0 +89.6 Revenue Europe 332.3 343.8 +11.5 +25.3 -13.8 China 456.9 531.9 +75.0 +60.0 +15.0 Asia & Others 370.2 492.9 +122.7 +

  24. Slide 24: FYE2024 Segment by Region

    FYE2024 Segment by Region 【Billion JPY】 FYE2023 FYE2024 Change Region Change Results Forecast FX Others Japan 2,219.6 2,385.0 +165.4 - +165.4 North America 814.3 775.0 -39.3 -31.4 -7.9 Revenue Europe 343.8 345.0 +1.2 -1.6 +2.8 China 531.9 585.0 +53.1 -28.9 +82.0 Asia & Others 492.9 510.0 +17.1 -10.1

  25. Slide 25: Highlights of Financial Performance

    Highlights of Financial Performance R&D expenditure Revenue／Operating Profit／Operating profit ratio ／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 】 4,600.0 205.8 218.6 210

  26. Slide 26: Toyota production/Powertrain Unit Sales

    Toyota production/Powertrain Unit Sales 【10,000 Unit】 Toyota production Volume Powertrain Unit Sales Volume Domestic Overseas （）Total sales of HEV, eAxle (after FYE2021） 953 888 (93) 926 916 904 (136) 893 895 (70) 816 567 643 618 526 326 290 273 276 FYE2020 Results FYE2021 Results FYE2022 Results FY

  27. Slide 27: Half Yearly Performance

    Half Yearly Performance Revenue 【10,000 Unit】 Revenue Powertrain Unit Sales （）Total sales of HEV, eAxle (after FYE2021） 【Billion JPY】 531 506 （42） 484 493 469 462 464 458 （41） （52） （59） 446 （77） 2,000.0 357 （28） 1,994.4 2,048.7 1,913.7 2,069.8 2,052.7 2,106.6 2,296.2 1,000.0 1,870.8 1,864.7 1,455.9

  28. Slide 28: Quarterly Performance

    Quarterly Performance Revenue Revenue Powertrain Unit Sales （）Total sales of HEV, eAxle (after FYE2021） 【10,000 Unit】 【Billion JPY】 274 258 260 （20） 243 227 238 245 236 246 246 247 236 220 （22） （20） 229 233 228 226 220 222 （21） （27） （25） （27） （32） （36） （17） （41） 137 （10） 986.5 1,029.7 1,191.6 950.7

  29. Slide 29: 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

  30. Slide 30: 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

  31. Slide 31: 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

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