Furuno Electric Co., Ltd. · TSE:6814
Furuno Electric — Q2 2023 Earnings Presentation
19 slides from Furuno Electric's earnings presentation, Oct 16, 2023
Slide 1: Financial Results Briefing Materials
2nd Quarter of Fiscal Year 2023 (Ending February 28, 2024) Financial Results Briefing Materials October 16, 2023 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 2nd Quarter of FY 2023
Summary of 2nd Quarter of FY 2023 ◆Net Sales: Increase ➢ Increase in overseas sales for Marine business with increase in production to catch-up high backlog and normalize delivery dates ◆Operating Profit: Increase ➢ Gross profit increased with improved production efficiency, etc. ➢ Strengthening of
Slide 3: Consolidated Income Statement
Consolidated Income Statement Increase in overseas sales for Marine business with production increased to catch-up high backlog Better profit margin due to efforts to improve profitability, despite the impact of rising costs FY 2022 FY 2023 Year-over-Year Year-over-Year (Unit: Millions of yen) 2nd Q
Slide 4: Analysis of Increase/Decrease in Net Sales
Analysis of Increase/Decrease in Net Sales Decrease in domestic sales, but increase in overseas sales mainly in merchant vessels 600 (Unit: 100 Millions of Yen) Others Industrial Business Marine Business Business +8.7 -0.3 550 +92.3 500 Europe Wireless +33.6 LAN Systems Japan Foreign -4.8 -14.4 Amer
Slide 5: Analysis of Increase/Decrease in Gross Profit
Analysis of Increase/Decrease in Gross Profit Increase in gross profit with increase in sales for Marine business and efforts to improve profitability (improved production capacity, price management, etc.), despite higher cost 225 Marine Business +46.7 (Unit: 100 Millions of Yen) Sales Increase 210
Slide 6: Analysis of Increase/Decrease in Operating Profit
Analysis of Increase/Decrease in Operating Profit Increase in profit with higher gross profit in Marine business, despite increase in SG&A expenses with strengthened sales and service structure and continued investment in R&D 80 Wireless (Unit: 100 Millions of Yen) Marine Business LAN Systems 70 Gro
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 452 100M yen (+25.7% year-over-year) 日本 ■Americas ■Japan 米州 欧州 ■Europeアジア その他 ■Asia ■Other Segment Profit 41.7 100M yen (+31.9 100M yen) 500
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 60 100M yen (+16.9% year-over-year) ■OEM, ETC, etc. ■Healthcare 90 ■Defense Equipment ■Wireless LAN Systems Segment Profit +0.4
Slide 9: Forecast for FY 2023: Upward Revision
Forecast for FY 2023: Upward Revision Efforts to improve profitability, impact of yen depreciation, and expected firm demand environment in the Marine business (Unit: Millions of yen) FY 2022 FY 2023 FY 2023 Results Previous Forecast Revised Forecast Net Sales 91,325 100,000 105,000 Operating Profit
Slide 10: Appendix: Consolidated Balance Sheet
Appendix: Consolidated Balance Sheet (Unit: Millions of yen) Full Year FY 2022 2nd Quarter FY 2023 Current assets 82,280 85,487 (Cash and deposits) (15,376) (12,348) (Inventories) (40,694) (44,915) Fixed assets 24,116 24,731 (Tangible fixed assets) (13,914) (14,129) (Intangible fixed assets) (4,034)
Slide 11: Topics
Topics FURUNO ELECTRIC CO., LTD. All Rights Reserved. 11
Slide 12: Topics: Nippon Foundation's Unmanned Vessel Project
Topics Participation in the second stage of the Nippon Foundation's Unmanned Vessel Project: Social Implementation Program Overview 1. Demonstration Experiment Design next-generation vessels and conduct ship-land operation demonstrations envisioning the future coastal shipping industry. 2. Standardi
Slide 13: FURUNO dominates 2023 NMEA Product of Excellence Awards
Topics FURUNO dominates 2023 NMEA Product of Excellence Awards About NMEA (National Marine Electronics Association) The awards are given every fall to the products with the best design, performance, and reliability among marine electronic equipment released that year. FURUNO has received the NMEA Be
Slide 14: Publishment of FURUNO's Integrated Report 2023
Topics Publishment of FURUNO’s Integrated Report 2023 Toward a sustainable society and further corporate value This report focuses on our business vision "Achieve better safety, security and comfort to bring about a society and sea navigation that considers the needs of people and the environment,"
Slide 15: FURUNO's Business Outline
FURUNO’s Business Outline FURUNO ELECTRIC CO., LTD. All Rights Reserved. 15
Slide 16: Corporate Outline
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 been world
Slide 17: FURUNO's Business Fields
FURUNO’s Business Fields Automatic GPS/GNSS Identification Disciplined GPS/GNSS System (AIS) Oscillator Displacement Continuous Remote Monitoring Satellite System Communications Meteorological Equipment Monitoring and Analyzing System Wireless LAN Radar Access Point Voyage Data GPS/GNSS Recorder Rec
Slide 18: FURUNO's Marine Business
FURUNO’s Marine Business For Merchant Vessels ECDIS (Electronic Chart Display Satellite Communications Radar and Information System) Equipment For Fishing Vessels Sonar Fish Finder Current Indicator Radiotelephone For Pleasure Boats GPS/WAAS Radar Multi-Function Display Chart Plotter Autopilot FURUN
Slide 19: FURUNO's Industrial Business
FURUNO’s Industrial Business OEM, ETC, etc. ETC2.0 / ETC * ETC, Vehicle GPS / GNSS Management Solution* Chips & Modules Healthcare Clinical Chemistry Analyzer & Reagent Ultrasound Bone Densitometer Wireless LAN Systems Wireless LAN Access Point* Wireless Handheld Terminal* FURUNO ELECTRIC CO., LTD.