Aisin Corporation · TSE:7259
Aisin — AISIN SEIKI — Q3 FY2021 Earnings Presentation
26 slides from Aisin's earnings presentation, Feb 2, 2021
Slide 1: FY2021 3rd Quarter Consolidated Financial Results
FY2021 3rd Quarter Consolidated Financial Results February 2nd, 2021 AISIN SEIKI Co., Ltd. The forecasts included in this document are based on information that the Company has obtained at the time of this disclosure and certain assumptions that the Company considers reasonable. The Company does not
Slide 2: Contents
Contents 1.Consolidated Financial Results (FY2021 3rd Quarter) P.2-8 2.Consolidated Financial Forecast (FY2021 - 12 months) P.9-14 3.Reference Information P.15-25 1/25
Slide 3: 1. Consolidated Financial Results (FY2021 3rd Quarter)
1.Consolidated Financial Results (FY2021 3rd Quarter) 2/25
Slide 4: FY2021 3rd Quarter Overview of Financial Results
FY2021 3rd Quarter Overview of Financial Results 1.With respect to the 3Q (9 months) result for FY2021, Revenue and Operating Profit decreased compared to the previous year, due to the impact of COVID-19 in the 1Q, in spite of the recovery tendency of the market since the 2Q. 2.With respect to the O
Slide 5: Consolidated Financial Results (FY2021 3rd Quarter)
Consolidated Financial Results (FY2021 3rd Quarter) FY2020 3Q FY2021 3Q Change （Billion yen） Rate to Rate to Results Revenue % Results Revenue % Amount ％ Revenue 2,871.8 - 2,504.4 - -367.4 -12.8 Operating Profit 77.2 2.7 49.3 2.0 -27.9 -36.0 Profit before income taxes 85.8 3.0 63.5 2.5 -22.3 -25.9 P
Slide 6: Sales by Customer (FY2021 3rd Quarter)
Sales by Customer (FY2021 3rd Quarter) FY2020 3rd Quarter Revenue Other Auto Makers sales breakdown Life & others (Billion yen) (Billion yen) Chinese OEMs Total 92.8 116.2 ⇒ 134.5 (+18.3) (3.2%) 1,017.1 Other 1,000 -121.9 Auto Makers Toyota Group 220.2 895.2 1,017.1 2,871.8 (35.5%) 1,761.8 800 179.2
Slide 7: Segment Information (FY2021 3rd Quarter)
Segment Information (FY2021 3rd Quarter) Revenue (-367.4) Operating Profit (-27.9) (Billion yen)-208.6 FY2020 3Q FY2021 3Q (Billion yen) FY2020 3Q FY2021 3Q FX Other FX Other 1,655.4 Impact factors Impact factors 1,600 Japan -2.8 -11.7 Japan － -208.6 1,446.8 North North America +0.1 -5.5 America -9.
Slide 8: Fluctuations for Operating Profit (FY2021 3rd Quarter)
Fluctuations for Operating Profit (FY2021 3rd Quarter) & Structural reforms Emergency Measures (Billion yen) FY2020 3Q / FY2021 3Q 77.2 Profit Operating improvement Cost structure 49.3 improvement Additional +11.0 Operating Profit & others Fixed cost FX impact -132.9 +71.7 +5.0 +20.5 -3.2 fluctuatio
Slide 9: Fluctuations for Operating Profit (Oct-Dec 3 months)
Fluctuations for Operating Profit (FY2021 3rd Quarter (Oct-Dec 3months)) FY2020 Oct-Dec(3 months) / (Billion yen) FY2021 Oct-Dec(3 months) 87.9 -0.4 Fixed cost & others fluctuation Sales +23.7 Operating Profit +3.0 & Structural reforms Emergency Measures improvement Additional +10.3 -1.2 improvement
Slide 10: 2. Consolidated Financial Forecast (FY2021 - 12 months)
2.Consolidated Financial Forecast (FY2021 - 12 months) 9/25
Slide 11: Consolidated Financial Forecast (FY2021 - 12 months)
Consolidated Financial Forecast (FY2021 - 12 months) FY2020 FY2021 Change FY2021 (Billion yen) Rate to Rate to Forecast in Rate to Results Revenue Forecast Revenue Amount % October Revenue % % % Revenue 3,784.5 - 3,450.0 - -334.5 -8.8 3,380.0 - Operating Profit 56.1 1.5 100.0 2.9 +43.9 +78.2 50.0 1.
Slide 12: Forecast of Sales by Customer (FY2021 - 12 months)
Forecast of Sales by Customer (FY2021 - 12 months) ２０年３月期 売上収益 FY2020 Revenue Other Auto Makers sales breakdown Life & others (Billion yen) (Billion yen) Chinese OEMs Total 119.8 142.0 ⇒177.7(+35.7) (3.2%) 1,600 1,400 1,355.2 Other -120.2 Auto Makers 3,784.5 1,235.0 2,309.4 1,200 287.1 1,355.2 (61.0
Slide 13: Forecast of Segment Information (FY2021 - 12 months)
Forecast of Segment Information (FY2021 - 12 months) Revenue (-334.5) Operating Profit (+43.9) (Billion yen) FY2020 FY2021 FY2020 FY2021 (Billion yen) FX Other 2,500 -200.2 FX Other Impact factors Impact factors 2,190.2 Japan － -200.2 Japan -5.9 +4.6 North North America ±0.0 +14.4 1,990.0 America -2
Slide 14: Forecast of Fluctuations for Operating Profit (FY2021 - 12 months)
13/25 (Billion yen) （Forecast) 100.0 FY2021 Operating Profit Forecast of Fluctuations for Operating Profit -20.1 Fixed cost & others +95.0 Emergency Measures & Structural reforms Additional +7.0 improvement +43.9 Billion yen +30.0 Cost structure improvement -6.9 -124.6 FX impact Sales FY2020 / FY202
Slide 15: Forecast of Fluctuations for Operating Profit (vs October forecast)
Forecast of Fluctuations for Operating Profit (FY2021 - 12 months) (Billion yen) FY2021(forecast in Oct) / FY2021 100.0 +7.5 +3.0 -0.6 +2.0 Fixed cost & others & Structural reforms Emergency Measures improvement Cost structure Operating Profit FX impact +38.1 50.0 fluctuation Sales Profit Operating
Slide 16: 3. Reference Information
3.Reference information 15/25
Slide 17: Capital Expenditure/Depreciation/R&D Expenditure
Capital Expenditure/Depreciation/ R&D Expenditure Capital Expenditure Depreciation R&D Expenditure (Billion yen) AW-G after FY2020 （）: Rate to sales amount includes AISIN AI Group by 389.9 integration. Others ADS-G AW-G 32.9 AISIN SEIKI-G 290.6 260.3 242.1 245.0 144.9 39.8 205.0 226.4 (5.0%) (5.4%)
Slide 18: Toyota car production
Toyota car production Toyota Domestic Toyota Oversea Toyota Global production production production (10,000 Unit) 4Q 3Q 906 893 892 2Q 823 1Q 220 226 208 591 232 578 567 530 137 136 129 232 234 224 150 245 315 326 151 155 146 314 293 159 223 222 228 83 90 79 82 78 147 149 144 223 81 79 86 148 76 73
Slide 19: Sales Number
Sales Number AT sales MT sales (10,000 Unit) (10,000 Unit) 983 999 200 1,000 904 870 164 247 151 800 258 222 150 40 244 33 111 600 258 246 100 48 36 90 236 24 272 27 400 234 246 39 30 220 50 34 30 200 217 29 233 260 226 42 43 28 18 0 137 0 15 FY2018 FY2019 FY2020 FY2021 FY2018 FY2019 FY2020 FY2021 （
Slide 20: Foreign Currency Exchange Rate
Foreign Currency Exchange Rate Foreign Exchange Rate （yen） 140 130 129 121 123 EUR 120 100 111 111 USD 109 104 80 20 16.8 16.5 15.6 15.4 CNY 10 3.4 3.4 3.5 3.4 THB 0 FY2018 FY2019 FY2020 FY2021 （Forecast） Impacts on Forex Impact on Operating Operating Profit profit per 1(or 0.1) yen (Billion yen) FY
Slide 21: Financial Results of the Main Consolidated Companies I
Financial Results of the Main Consolidated Companies Ⅰ AISIN SEIKI Group (Billion yen) 4.4% ◆ 3.8% 2.6% ◆ 1.8% ◆ (Billion yen) ◆ 2,000 1,776.2 1,782.6 1,685.7 1,490.0 1,500 150 4Q 393.3 1,000 78.0 67.0 90 500 30.2 3Q 1,096.7 (9 months) 38.0 18.0 4Q 30 0 20.0 3Q (9 months) -30 FY2018 FY2019 FY2020 FY
Slide 22: Financial Results of the Main Consolidated Companies II
Financial Results of the Main Consolidated Companies Ⅱ AISIN Takaoka Group 4.1% (Billion yen) (Billion yen) 4.2% 2.5% ◆ ◆ 2.2% 30 400 ◆ ◆ 295.7 320.7 310.0 300 274.7 20 13.5 4Q 77.0 200 11.9 6.9 10 6.7 100 3Q 197.7 2.6 4Q (9months) 4.3 3Q 0 (9months) 0 FY2018 FY2019 FY2020 FY2021 (Forecast) ADVICS G
Slide 23: Quarterly Performance
Quarterly Performance Revenue (10,000 Unit) (Billion yen) 1,800.0 232 234 233 217 223 224 222 226 228 224 223 250 220 208 245 232 200 1,200.0 1,023.51,030.21,007.9 986.5 1,018.91,029.7 963.0 950.7 958.0 1,048.5 917.0 938.0 912.7 123 900.7 945.6 150 555.2 100 600.0 50 0.0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
Slide 24: Half Yearly Performance
Half Yearly Performance Revenue (10,000 Unit) (Billion yen) 600 3,000 452 446 460 461 477 440 432 480 1,994.4 2,048.7 346 1,855.1 2,053.8 1,913.7 1,994.1 360 2,000 1,870.8 1,455.9 240 1,000 120 0 0 1H 2H 1H 2H 1H 2H 1H 2H FY2018 FY2019 FY2020 FY2021 (Forecast) Operating Profit (Billion yen) 200 7.1%
Slide 25: Capital policy and Return to Shareholders
Capital policy and Return to Shareholders 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 as an important financial index to assess our capital structure, and believe
Slide 26: Progress of Structural reforms toward integration
Progress of “Structural reforms” toward integration Strengthening the foundation steadily toward integration with Aisin AW We expect more than 90 billion yen ・Business reorganization in L&E front-load of Integration 90 Billion yen department (becoming profitable) effect after “Structural reforms” FY