Furuno Electric Co., Ltd. · TSE:6814
Furuno Electric — Q3 FY2024 Earnings Presentation
26 slides from Furuno Electric's earnings presentation, Jan 14, 2025
Slide 1: Financial Results Briefing Materials: 3rd Quarter of Fiscal Year 2024
3rd Quarter of Fiscal Year 2024 (Ending February 28, 2025) Financial Results Briefing Materials January 14, 2025 FURUNO ELECTRIC CO., LTD. Cautions: This document is a translation of the Japanese original, which is authoritative. The information listed in these materials regarding the Company’s fore
Slide 2: Summary of 3rd Quarter of FY 2024
Summary of 3rd Quarter of FY 2024 ◆Sales: Increase ➢ Continuous strong demand in Japan and overseas for Marine business ➢ Sales in Industrial business increased mainly with Defense Equipment ◆Profit: Increase ➢ Improved profitability with increase in equipment sales for Marine business and improved
Slide 3: Consolidated Income Statement
Consolidated Income Statement Sales increase with strong demand for Marine Business and improved profitability. Capital expenditures increase with investment in product life cycle management system, etc. FY 2023 FY 2024 Year-over-Year Year-over-Year (Unit: Millions of yen) 3rd Quarter 34d Quarter (a
Slide 4: Analysis of Increase/Decrease in Net Sales
Analysis of Increase/Decrease in Net Sales Marine business: Significant sales increase with overall strong sales for Merchant Vessels Industrial business: Sales increase mainly led by Defense Equipment 1,000 (Unit: 100 Millions of Yen) Industrial Other Marine Business Business Business +96.1 +0.3 +1
Slide 5: Analysis of Increase/Decrease in Gross Profit
Analysis of Increase/Decrease in Gross Profit Profit increase with sales increase in Marine business and improved profitability, offsetting higher components price and decrease in operation rate due to easing of increased production 450 (Unit: 100 Millions of Yen) Marine Business +66.9 Industrial Wi
Slide 6: Analysis of Increase/Decrease in Operating Profit
Analysis of Increase/Decrease in Operating Profit Increase in Profit due to higher Gross Profit mainly in Marine Business, despite higher SG&A expenses such as personnel costs associated with salary revisions 150 (Unit: 100 Millions of Yen) Others Industrial Wireless Gross Profit Business LAN System
Slide 7: Overview of Marine Business
Overview of Marine Business “100M” stands for 100 Million Marine Business Consolidated Sales (by Region) Marine Business (Unit: 100 Millions of Yen) Net Sales 801 100M yen (+13.6% year-over-year) 900 日本 ■Americas ■Japan 米州 欧州 ■Europeアジア その他 ■Asia ■Other Segment Profit 104.3 100M yen (+38.4 100M yen)
Slide 8: Overview of Industrial Business
Overview of Industrial Business “100M” stands for 100 Million Industrial Business Consolidated Sales (by Product) Industrial Business (Unit: 100 Millions of Yen) Net Sales 104 100M yen (+10.6% year-over-year) 160 ■ITS, GNSS ■Healthcare ■Defense Equipment ■Wireless LAN Systems Segment Profit 2.8 100M
Slide 9: Forecast for FY 2024: Upward Revision
Forecast for FY 2024: Upward Revision Outlook for continuous strong demand for Marine business and decrease in tax expenses. FURUNO will try to achieve its Corporate Vision (NAVI NEXT 2030) targets ahead of schedule. (Unit: Millions of yen) FY 2023 FY 2024 FY 2024 Revision Result Previous Forecast R
Slide 10: Forecast Revision of Profit Attributable to Owners of Parent
Forecast Revision of Profit Attributable to Owners of Parent Operating Profit increase mainly due to strong sales in Marine Business and decrease in SG&A expenses. Also decrease in tax expenses, resulting in the upward revision of forecast. 100 (Unit: 100 Millions of Yen) GP increase with Sales incr
Slide 11: Forecast for FY 2024: 4th Quarter
Forecast for FY 2024: 4th Quarter Profitability decrease in 4Q with inventory-related expenses, etc. and higher SG&A related to bonuses of overseas subsidiaries (Unit: Millions of yen) FY 2024 FY 2024 FY 2024 FY 2024 1Q Result 2Q Result 3Q Result 4Q Forecast Net Sales 28,196 34,605 30,799 31,400 Gro
Slide 12: Appendix: Past Results and FY24 Forecast of 4Q
Appendix: Past Results and FY24 Forecast of 4Q Better Gross margin expected with the effects of profitability improvement initiatives (Unit: Millions of yen) FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 4Q Result 4Q Result 4Q Result 4Q Result 4Q Result 4Q Forecast Net Sales 20,484 21,837 22,170 2
Slide 13: Appendix: Consolidated Balance Sheet
Appendix: Consolidated Balance Sheet (Unit: Millions of yen) Full Year FY 2023 3rd Quarter FY 2024 Current assets 86,285 88,062 (Cash and deposits) (11,786) (13,820) (Inventories) (46,088) (44,437) Fixed assets 28,085 29,369 (Tangible fixed assets) (14,751) (15,260) (Intangible fixed assets) (4,902)
Slide 14: Topics
Topics FURUNO ELECTRIC CO., LTD. All Rights Reserved. 14
Slide 15: First installation of Smart Bridge in Japan
Topics First installation of “Smart Bridge” in Japan Smart Bridge, a next-generation integrated fishing labor system developed by one of our overseas subsidiaries, has been installed for the first time in Japan on a vessel owned by Ishidamaru Fishery Co. This bridge system is a system that combines
Slide 16: Winner of NMEA Best Product Award in 2024
Topics Winner of NMEA Best Product Award in 2024, in 6 categories FURUNO won the Best Product Award in 6 out of 18 categories at the National Marine Electronics Association (NMEA) in 2024, the 54th consecutive year since winning the NMEA Best Manufacturer Award in the “Fish Finder Category” in 1971.
Slide 17: Exhibited at the world's largest conference on time synchronization
Topics Exhibited the world's largest conference on time synchronization As a Gold Sponsor, FURUNO exhibited at the International Timing and Sync Forum (ITSF) 2024, the world's largest international conference on time synchronization held in Seville, Spain. The conference brought together industry pr
Slide 18: Sea to the Future Project
Topics “Sea to the Future” Project FURUNO communicates attractive activities and problem of sea with children as a company which has been growing in marine market for a long time. Spo-GOMI World Cup Hyogo Stage Hankyu Hanshin Dream Town Delivering fresh and delicious fish to Social Lab Children’s ca
Slide 19: Publication of the Integrated Report 2024
Topics Publication of the Integrated Report 2024 Towards a sustainable society and further enhancement of corporate value Since 2023, FURUNO has published an Integrated Report to inform our shareholders, investors and other stakeholders about our business activities, medium-term management plan and
Slide 20: World's first Onshore Support Center for remote navigation
Topics World's first “Onshore Support Center” for remote navigation Steady progress toward commercialization of unmanned vessels by 2025 MOL is participating in MEGURI2040, an unmanned vessel project being promoted by the Nippon Foundation starting in February 2020. The “Onshore Support Center,” whi
Slide 21: FURUNO's Fish Finder recognized as IEEE Milestone
Topics FURUNO’s Fish Finder recognized as IEEE Milestone About IEEE Milestone IEEE established the Milestones program to recognize significant achievements in the fields of electrical, electronics and information technology that occurred at least 25 years ago and have contributed to the advancement
Slide 22: FURUNO's Business Outline
FURUNO’s Business Outline FURUNO ELECTRIC CO., LTD. All Rights Reserved. 22
Slide 23: Appendix: Corporate Outline
Appendix: Corporate Outline Since commercializing the world's first Fish Finder in 1948, FURUNO has supplied many types of products for the marine electronics market. By using its exclusive knowledge of ultrasonic and electronics technologies, FURUNO has developed a wide array of products that have
Slide 24: Appendix: FURUNO's Business Fields
Appendix: FURUNO’s Business Fields Achieve better safety, security and comfort to bring about a society and sea navigation that considers the needs of people and the environment Automatic GPS/GNSS Identification Disciplined GPS/GNSS System (AIS) Oscillator Displacement Continuous Remote Monitoring S
Slide 25: Appendix: FURUNO's Marine Business
Appendix: FURUNO’s Marine Business For Merchant For Fishing Vessels Vessels Radar Sonar Fish Finder ECDIS Satellite (Electronic Chart Display Communications Current Radiotelephone and Information System) Equipment Indicator For Pleasure For Work Boats Boats Multi-Function Multi-Function Radar Radar
Slide 26: Appendix: FURUNO's Industrial Business
Appendix: FURUNO’s Industrial Business ITS・GNSS Healthcare ETC, Vehicle Clinical Chemistry ETC2.0 / ETC * Management Analyzer & Reagent Solution* GPS / GNSS Chips & Modules Ultrasound Bone Densitometer Defense Wireless LAN Equipment Systems Wireless LAN Access Point* Multi-beam Sonar Fathometer Wire