Imasen Electric Industrial Co., Ltd. · TSE:7266
Imasen Electric Industrial — Q2 FY2024 Earnings Presentation
31 slides from Imasen Electric Industrial's earnings presentation, Nov 16, 2023
Slide 1: Summary of Consolidated Financial Results for the Second Quarter, Year Ending March 31, 2024
Challenge to New Imasen Summary of Consolidated Financial Results for the Second Quarter of the Year Ending March 31, 2024 November 16, 2023 Imasen Electric Industrial Co., Ltd. Tokyo Stock Exchange Standard Market, Nagoya Stock Exchange Premier Market Stock code: 7266 (The Company moved to the Toky
Slide 2: Agenda
Challenge to New Imasen I. Summary of Consolidated Financial Results for 2Q FY2024 II. Forecasts of Consolidated Financial Results for the Year Ending March 31, 2024 III. Initiatives in 2Q FY2024 IV. Toward Phase 2 of the Medium- and Long-term Management Plan V. Shareholder Returns 2 ©IMASEN ELECTRI
Slide 3: I. Summary of Consolidated Financial Results for 2Q FY2024
Challenge to New Imasen I. Summary of Consolidated Financial Results for 2Q FY2024 II. Forecasts of Consolidated Financial Results for the Year Ending March 31, 2024 III. Initiatives in 2Q FY2024 IV. Toward Phase 2 of the Medium- and Long-term Management Plan V. Shareholder Returns 3 ©IMASEN ELECTRI
Slide 4: Summary of Consolidated Financial Results
Summary of Consolidated Financial Results for 2Q FY2024 Challenge to New Imasen Unit: 2Q FY2023 2Q FY2024 Difference Change million yen Net sales 45,859 47,332 +1,472 +3.2% Operating -1,137 -276 +861 ― profit Ordinary 73 208 +135 +183.0% profit Profit attributable to owners of -562 * -1,114 -551 ― p
Slide 5: Initiative to Achieve Greater Structural Strength: Voluntary Retirement
Initiative to Achieve Greater Structural Strength Challenge to New Imasen Initiative to Achieve a Sustainable Profit Structure Voluntary Retirement Initiative As part of management reforms and to streamline personnel structures, the Company solicited applicants for voluntary retirement. In Japan, th
Slide 6: 2Q FY2024 Operating Profit
2Q FY2024 Operating Profit Challenge to New Imasen (Foreign exchange impact +2,007) Unit: million yen +1,472 (Production fluctuations -535) Net sales: 45,859 Net sales: 47,332 +861 2Q FY2023 +1,832 -85 2Q FY2024 -95 Economic fluctuations/ Other -276 foreign exchange -501 -1,137 -472 Production +182
Slide 7: 2Q FY2024 Results by Business Segment
2Q FY2024 Results by Business Segment Challenge to New Imasen (Unit: million yen) Seat and Electrical Equipment Business Electronics Business Net sales +928 (+2.5%) Net sales +524 (+8.1%) 38,105 Production levels were nearly the same 7,011 Sales increased due to expanded 37,177 as the previous perio
Slide 8: 2Q FY2024 Results by Regional Segment
2Q FY2024 Results by Regional Segment Challenge to New Imasen (Unit: million yen) Consolidated (after elimination) Japan Operating losses shrank due to structural improvements and the resolution of temporary costs. Lower profit due to the impact of soaring material costs (Net sales excluding exchang
Slide 9: 2Q FY2024 Capital Investment and Depreciation Expense
2Q FY2024 Capital Investment and Depreciation Expense Challenge to New Imasen (Unit: million yen) <Major investments during the period> Capital investment • Japan Growth due to investments in molds 2Q FY2023 2Q FY2024 Difference related to new vehicle model launches Japan 545 868 323 • North America
Slide 10: II. Forecasts of Consolidated Financial Results
Challenge to New Imasen I. Summary of Consolidated Financial Results for 2Q FY2024 II. Forecasts of Consolidated Financial Results for the Year Ending March 31, 2024 III. Initiatives in 2Q FY2024 IV. Toward Phase 2 of the Medium- and Long-term Management Plan V. Shareholder Returns 10 ©IMASEN ELECTR
Slide 11: Forecasts of Consolidated Financial Results for FY2024
Forecasts of Consolidated Financial Results for FY2024 Challenge to New Imasen Previous Unit: Forecasts Difference Change results (FY2024) million yen (FY2023) Net sales 99,730 95,400 -4,330 -4.3% Operating profit -770 70 +840 ― Ordinary profit 28 50 +22 +77.8% Profit attributable to owners of -2,05
Slide 12: III. Initiatives in 2Q FY2024
Challenge to New Imasen I. Summary of Consolidated Financial Results for 2Q FY2024 II. Forecasts of Consolidated Financial Results for the Year Ending March 31, 2024 III. Initiatives in 2Q FY2024 IV. Toward Phase 2 of the Medium- and Long-term Management Plan V. Shareholder Returns 12 ©IMASEN ELECTR
Slide 13: Business Consolidation in North America
Initiatives in 2Q FY2024 Challenge to New Imasen Seat and Electrical Equipment Business Initiatives Business Consolidation in North America In North America, we finished consolidating seat adjustor production at the Ohio Plant; this had previously been handled by the Mexico Plant. This initiative st
Slide 14: Investments Targeting Expansion in the Asian Region: India Plant
Initiatives in 2Q FY2024 Challenge to New Imasen Seat and Electrical Equipment Business Initiatives Investments Targeting Expansion in the Asian Region India Plant: Augmenting capacity for new product orders (press line augmented, building added) Building addition Augmented press line 14
Slide 15: Investments Targeting Expansion in the Asian Region: China Wuhan Plant
Initiatives in 2Q FY2024 Challenge to New Imasen Seat and Electrical Equipment Business Initiatives Investments Targeting Expansion in the Asian Region China Wuhan Plant: Building an integrated production system for in-house manufacturing to boost cost competitiveness (third-phase factory augmentati
Slide 16: Electronics Business: Electric drive system development
Initiatives in 2Q FY2024 Challenge to New Imasen ■Electronics Business: Electric drive system development *Established August 2022 Annual sales インバータ製品 Seeks to develop electric drive products and high efficiency production technologies to build an industrial base for local communities and help real
Slide 17: New Business Initiatives: Agreement with Inuyama City
Initiatives in 2Q FY2024 Challenge to New Imasen New Business Initiatives Concluded an Agreement on Health Promotion and Preventive Long-term Care with Inuyama City in Aichi Prefecture We are using the aLQ non-electric assistive walking device, walking measurement systems, and our associated know-ho
Slide 18: New Business Initiatives: Medium-Term Initiatives
Initiatives in 2Q FY2024 Challenge to New Imasen New Business Initiatives Medium-Term (FY2025–FY2027) Initiatives Local Health insurance governments associations Preventive long- Health promotion term care for for members citizens Hospitals and nursing Sports clubs care facilities Health promotion H
Slide 19: ESG: Developing New Products for Carbon Neutrality
Initiatives in 2Q FY2024 Challenge to New Imasen ESG Management Initiatives Developing New Products that Contribute to Carbon Neutrality Drawing on synergies between existing mechanical technologies and electronic technologies, we are developing inexpensive and energy-efficient facility drive device
Slide 20: ESG: Exhibited at H.C.R. 2023
Initiatives in 2Q FY2024 Challenge to New Imasen ESG Management Initiatives Exhibited at International Home Care and Rehabilitation Exhibition (H.C.R. 2023) ■Imasen Electric Industrial booth Using our proprietary walking measurement system, we implemented a diagnostic service that produced immediate
Slide 21: ESG Management Initiatives (Japan Imasen)
Initiatives in 2Q FY2024 Challenge to New Imasen ESG Management Initiatives (Japan Imasen) Donating Stockpiled Food We donate stockpiled food when it needs to be replaced to local welfare facilities and food banks. Through this initiative, we seek to continue working to minimize food loss and contri
Slide 22: ESG Management Initiatives (Overseas Sites)
Initiatives in 2Q FY2024 Challenge to New Imasen ESG Management Initiatives (Overseas Sites) Global Social Contribution Activities Beach cleanup activities Imasen Electric & Machinery Co., Ltd. Cosponsoring local (Taiwan) Halloween events Imasen Bucyrus Technology Inc.’s Tennessee Plant (Tennessee,
Slide 23: IV. Toward Phase 2 of the Medium- and Long-term Management Plan
Challenge to New Imasen I. Summary of Consolidated Financial Results for 2Q FY2024 II. Forecasts of Consolidated Financial Results for the Year Ending March 31, 2024 III. Initiatives in 2Q FY2024 IV. Toward Phase 2 of the Medium- and Long-term Management Plan V. Shareholder Returns 23 ©IMASEN ELECTR
Slide 24: Medium- and Long-term Management Plan 2029
Toward Phase 2 of the Medium- and Long-term Management Plan Challenge to New Imasen Medium- and Long-term Management Plan 2029 In April 2021, we established Medium- and Long-term Management Plan 2029, under which we launched activities. We have also renewed our management philosophy to become a comp
Slide 25: Review of Phase 1 (FY2022-2024)
Toward Phase 2 of the Medium- and Long-term Management Plan Challenge to New Imasen ➤Review of Phase 1 (FY2022-2024) of the Medium- and Long-term Management Plan 2029 Business Growth strategy Review ➤ Sales were lower due to COVID-19, the semiconductor supply • Strengthening shortage, and the discon
Slide 26: Toward Phase 2 of the Management Plan
Toward Phase 2 of the Medium- and Long-term Management Plan Challenge to New Imasen ➤ In April 2021, we established Medium- and Long-term Management Plan 2029, under which we launched activities. ➤ We will move to Phase 2 in April 2024. Phase 1 Phase 2 Phase 3 FY2022-24 FY2025-27 FY2028-30 ➤Changes
Slide 27: Trust & Challenge
Toward Phase 2 of the Medium- and Long-term Management Plan Challenge to New Imasen Code of Conduct/Company Slogan Trust & Challenge Phase 1 (FY2022-2024) Challenge to New Imasen Based on the structural fortifications of Phase 1, Phase 2 (FY2025-2027) Challenge by New Imasen achieve steady business
Slide 28: V. Shareholder Returns
Challenge to New Imasen I. Summary of Consolidated Financial Results for 2Q FY2024 II. Forecasts of Consolidated Financial Results for the Year Ending March 31, 2024 III. Initiatives in 2Q FY2024 IV. Toward Phase 2 of the Medium- and Long-term Management Plan V. Shareholder Returns 28 ©IMASEN ELECTR
Slide 29: Projected Dividends
Shareholder Returns Challenge to New Imasen ■Projected Dividends [Dividend policy] As we maintain sustained growth, we will provide stable and continuous returns to our shareholders while investing to enhance our financial construction and management foundations. (Yen) 40 31 32 A first-half 30 26 di
Slide 30: Acquisition of Treasury Stock
Shareholder Returns Challenge to New Imasen ■Acquisition of Treasury Stock The acquisition of treasury stock pursuant to the provisions of Article 156 of the Companies Act after applying the provision of Article 165, Paragraph 3 of the same Act, which was resolved by the Board of Directors on Novemb
Slide 31: Trust & Challenge
Challenge to New Imasen Trust & Challenge Challenge to New Imasen • Imasen Electric Industrial Co., Ltd. reserves all rights to the contents of this document. Unauthorized republication or reuse is strictly prohibited. • Forecasts of business results and other forward-looking statements in this docu
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