Unipres Corporation · TSE:5949

Unipres — FY2023 Earnings Presentation

48 slides from Unipres's earnings presentation, 2024

  1. Slide 1: Financial Results of FY2023

    =_» UNIPRES UNIPRES CORPORATION Financial Results of FY2023 UNIPRES CORPORATION

  2. Slide 2: Full-year Results FY2023, Forecast FY2024, Mid-term Management Policies

    Full-year Results for Fiscal Year 2023 Forecast of Fiscal Year 2024 FY2024-2026 Mid-term Management Polices Copyright© UNIPRES CORPORATION, All Rights Reserved. 2 2

  3. Slide 3: Full-year Results for Fiscal Year 2023

    Full-year Results for Fiscal Year 2023 Copyright© UNIPRES CORPORATION, All Rights Reserved. 3 3

  4. Slide 4: Fiscal Year 2023 Financial Highlights

    Fiscal Year 2023 Financial Highlights Sales increased to 335.0 billion yen due to an increase in customers’ production volume and positive exchange rate. Operating profit increased to 10.9 billion yen mainly due to sales increase and the efforts of cost saving. Copyright© UNIPRES CORPORATION, All Ri

  5. Slide 5: Consolidated Financial Results for FY2023

    Consolidated Financial Results for FY2023  Net sales increased by 30.6 billion yen (+10.1%) year-over-year.  Operating profit increased by 7.2 billion yen year-over-year. 40 400 Net Sales (billion yen） 335.0 Net sales 304.4 Operating profit 30 254.4 300 (billion yen) 20 200 10 100 Operating profit

  6. Slide 6: Consolidated Sales by Product Group

    Consolidated Sales by Product Group (billion yen) FY2022 FY2023 Variance Variance % Sales % Sales % Car body press parts 265.0 87.0% 293.3 87.5% +28.3 +0.5% Transmission 32.2 10.6% 36.1 10.8% +3.9 +0.2% parts Plastic 3.9 1.3% 3.9 1.2% 0.0 -0.1% parts Other 3.3 1.1% 1.7 0.5% -1.6 -0.6% Total 304.4 10

  7. Slide 7: Consolidated Sales by Customer (Nissan Motor-related Products)

    Consolidated Sales by Customer（Nissan Motor-related Products）  Although sales to Dongfeng Motor Company Limited decreased, an increase in sales to Nissan Mexicana and Nissan Motor resulted in a 2.8% increase in the composition ratio. (billion yen) FY2022 FY2023 Variance Sales % Sales % Nissan Motor

  8. Slide 8: Consolidated Sales by Customer (Other Customers)

    Consolidated Sales by Customer (Other Customers)  The composition ratio decreased by 2.8% mainly due to a decrease in Honda De Mexico, S.A. De C.V. FY2022 FY2023 and Renault. Sales % Sales % Variance (billion yen) Other customers Sub-total 77.2 25.4% 75.7 22.6% -2.8% Incl.） Honda of America Mfg., I

  9. Slide 9: Operating Profit Variance Analysis

    Operating Profit Variance Analysis (billion yen) 15 Production reinforcement:0 10 -1.6 2.7 0.5 -0.7 -1.7 1.3 6.8 -0.1 -3.3 10.9 5 3.7 0 parts new car model Initial cost for Volume fluctuation /amortization Depreciation Forex Cost saving adjustment Consolidation Others SG&A & model mix etc. FY2022 FY

  10. Slide 10: Sales/Operating Profit by Region (Japan)

    Sales/Operating Profit by Region (Japan)  Net sales increased by 15.6% mainly due to the impact of customers’ production increase.  Operating profit increased by 4.0 billion yen because of sales increase and the efforts of cost saving. (billion yen) (billion yen) Net sales Operating profit 150 10

  11. Slide 11: Sales/Operating Profit by Region (The Americas)

    Sales/Operating Profit by Region (The Americas)  Net sales increased by 36.9% due to the impact of customers’ production increase and the weaker yen exchange rate.  Operating profit increased by 5.9 billion yen because of sales increase and the efforts of cost saving. （億円） (billion yen) (billion y

  12. Slide 12: Sales/Operating Profit by Region (Europe)

    Sales/Operating Profit by Region (Europe)  In spite of customers’ production increase and the weaker yen exchange rate, net sales remained flat due to a decrease in dies sales.  Operating loss was 0.2 billion. (billion yen) (billion yen) Net sales Operating profit 60 2 first half first half second

  13. Slide 13: Sales/Operating Profit by Region (Asia)

    Sales/Operating Profit by Region (Asia)  Net sales decreased by 21.6% due to the customers' production cutbacks in spite of Forex impact.  Operating loss was 2.6 billion yen as a result of the impact of volume fluctuation. (billion yen) (billion yen) Net sales Operating profit 100 5 first half fir

  14. Slide 14: Capital Investment

    Capital Investment (billion yen) 25 FY2021 FY2022 FY2023 Overseas business result Domestic business result 20 18.8 15 6.4 10.8 10.2 10 10.1 3.4 8.0 3.2 4.1 3.0 6.5 6.6 12.4 0.8 5 2.7 7.4 3.6 3.6 5.7 6.9 1.4 6.1 5.0 2.4 3.9 1.2 2.2 0 1st half 2nd half full year 1st half 2nd half full year 1st half 2n

  15. Slide 15: Capital Investment & Depreciation/Amortization

    Capital Investment & Depreciation/Amortization  Capital investment remained at the same level from the previous year. (6.8 billion yen decrease compared to the plan)  Depreciation/Amortization increased by 1.6 billion yen from the previous year. (2.4 billion yen increase compared to the plan) (bil

  16. Slide 16: Cash Flows

    Cash Flows  16.4 billion yen of free cash flow secured. (billion yen) 40 FY2021 FY2022 FY2023 Cash flow from operating activities Cash flow from investing activities Free cash flow 30 26.7 20 16.4 35.2 20.6 25.7 28.7 10 4.5 2.3 14.1 17.118.9 17.1 12.8 6.1 11.6 12.3 10.6 9.5 8.5 8.3 9.3 4.3 5.1 3.4

  17. Slide 17: Interest-bearing Debt & Net Interest-bearing Debt Balance

    Interest-bearing Debt & Net Interest-bearing Debt Balance  Interest-bearing debts decreased by 10.9 billion yen on a year-on-year basis.  Net interest-bearing debts including cash and deposits became 14.3 billion yen. (billion yen) 100 Long-term loans payable Short-term loans payable Interest-bear

  18. Slide 18: Equity to Total Assets

    Equity to Total Assets  The ratio of equity to total assets increased by 3.2% to 45.7% compare to the previous year. （％） 100 80 60 48.7 45.7 40.9 40.6 42.5 40 20 0 End-March, End-March, End-March, End-March, End-March, Copyright© UNIPRES CORPORATION, All Rights Reserved. 2020 2021 2022 2023 2024 18

  19. Slide 19: Dividends

    Dividends  As a result of the solid financial performance for this fiscal year , the annual dividend is planned to increase to 35.00 yen per share. (The dividend at year-end is planned to be 20 yen per share from the initially planned 15 yen) （yen/share） 60 55 Dividends at year-end Dividends at end

  20. Slide 20: Forecast of Fiscal Year 2024

    Forecast of Fiscal Year 2024 Copyright© UNIPRES CORPORATION, All Rights Reserved. 20 20

  21. Slide 21: Forecast of Fiscal Year 2024

    Forecast of Fiscal Year 2024 １. Net sales is forecast to decrease as the impact of customers’ production reduction. ２. Operating profit is forecast to increase due to cost saving. Copyright© UNIPRES CORPORATION, All Rights Reserved. 21

  22. Slide 22: Consolidated Business Forecast for FY2024

    Consolidated Business Forecast for FY2024 Net Sales (billion yen） 40 400 Net sales 335.0 330.0 Operating profit (billion yen) 304.4 30 300 20 200 Operating profit 10 100 10.9 12.0 0 3.7 0 FY2022 FY2023（A） FY2024（B） （B）-（A) Net sales 304.4 335.0 330.0 -5.0 Operating profit 3.7 10.9 12.0 +1.1 Ordinary

  23. Slide 23: Consolidated Sales by Product Group

    Consolidated Sales by Product Group (billion yen) FY2023 FY2024 Variance Variance % Sales % Sales % Car body press parts 293.3 87.5% 292.8 88.7% -0.5 +1.2% Transmission parts 36.1 10.8% 32.1 9.7% -4.0 -1.1% Plastic 3.9 1.2% 3.6 1.1% -0.3 -0.1% parts Other 1.7 0.5% 1.5 0.5% -0.2 0.0% Total 3,350 100%

  24. Slide 24: Forecast of Operating Profit Variance Analysis

    Forecast of Operating Profit Variance Analysis (billion yen) 15 10 -3.8 5.1 1.7 -0.6 -0.2 -0.5 -0.1 -0.5 12.0 10.9 5 0 SG&A reinforcement Production Forex Cost saving Volume fluctuation parts new car model Initial cost for adjustment Consolidation amortization Depreciation/ & model mix etc. FY2023 F

  25. Slide 25: Sales/Operating Profit by Region (Japan)

    Sales/Operating Profit by Region (Japan)  Net sales is projected to decrease.  Operating profit is forecasted to slightly decrease due to sales decrease. (billion yen) (billion yen) Net sales Operating profit 150 4 3 100 2 3.5 3.2 113.6 111.6 1 50 98.3 0 -0.5 0 -1 FY2022 FY2023 FY2024 FY2022 FY202

  26. Slide 26: Sales/Operating Profit by Region (the Americas)

    Sales/Operating Profit by Region (the Americas)  Net sales growth is projected because of sales increase of dies in spite of customers’ productions decrease.  Operating profit is forecasted to slightly decrease due to sales decrease of parts. (billion yen) (billion yen) Net sales Operating profit

  27. Slide 27: Sales/Operating Profit by Region (Europe)

    Sales/Operating Profit by Region (Europe)  Net sales is projected to be lower due to customers’ productions reduction.  Operating profit is projected to grow through cost reduction efforts. (billion yen) Net sales (billion yen) Operating profit 60 1 40 0.5 0.7 46.2 46.1 20 42.8 0 -0.1 -0.2 0 -0.5

  28. Slide 28: Sales/Operating Profit by Region (Asia)

    Sales/Operating Profit by Region (Asia)  Net sales is projected to decrease mainly due to the model mix.  Operating profit is projected to be improved due to cost reduction efforts. (billion yen) (billion yen) Net sales Operating profit 100 1 0.5 0 -1.4 50 -1 -2.6 74.4 58.3 52.1 -2 0 -3 FY2022 FY2

  29. Slide 29: Capital investment & Depreciation/Amortization plan

    Capital investment & Depreciation /Amortization plan  10.1 billion yen increase from the previous year is planned in capital investment.  Depreciation / amortization is projected to decrease by 1.7 billion yen. (billion yen) Capital investment (billion yen) Depreciation / amortization 30 30 20 20

  30. Slide 30: Dividends

    Dividends  The annual dividend per share for FY2024 is projected to be 60 yen. （yen/share） 70 Dividends at year-end Dividends at end of 2nd quarter 60 60 50 30 40 35 30 20 20 20 10 10 10 30 10 10 10 10 15 0 FY2020 FY2021 FY2022 FY2023 FY2024 (plan) Copyright© UNIPRES CORPORATION, All Rights Reserve

  31. Slide 31: FY2024-2026 Medium-term Management Policies: Cost of Capital and Stock Price

    FY2024-2026 Medium-term Management Policies: Action to Implement Management that is Conscious of Cost of Capital and Stock Price Copyright© UNIPRES CORPORATION, All Rights Reserved. 31 31

  32. Slide 32: Analysis of current situation, Policies and targets, Measures

    Analysis of the current situation Policies and targets Measures to be undertaken Copyright© UNIPRES CORPORATION, All Rights Reserved. 32

  33. Slide 33: Analysis of the current situation

    Analysis of the current situation Copyright© UNIPRES CORPORATION, All Rights Reserved. 33

  34. Slide 34: Changes of PBR and ROE

    Changes of PBR and ROE Recovery of revenue and reduction of equity capital are the issues Sluggish revenue due to the Strong revenue and yen depreciation led to capital impact of COVID-19 and expansion semiconductor shortage ROE (％) PBR (times) ROE PBR 15.0% 1.40 12.3% 11.6% 11.8% 10.0% 8.2% 8.3% 8.

  35. Slide 35: The Relationship Between Shareholders' Equity Cost and ROE

    The Relationship Between Shareholders' Equity Cost and ROE Strengthening of efforts to achieve ROE that exceeds the cost of shareholders' equity ROE (％) 10.0% Shareholders' equity cost ６％～７％ 5.0% 3.7% 1.9% 0.0% -5.0% -2.8% -6.6% -10.0% -15.0% -13.9% FY2019 FY2020 FY2021 FY2022 FY2023 Copyright© UNIP

  36. Slide 36: Policies and targets

    Policies and targets Copyright© UNIPRES CORPORATION, All Rights Reserved. 36

  37. Slide 37: Unwavering Focus on Corporate/Shareholder Value Maximization

    Unwavering Focus on Corporate/ Shareholder Value Maximization Setting a mid-term goal of achieving an ROE of 8% or higher, with the aim of improving PBR Strengthening of revenue base Obtaining market confidence in the （Improvement of ROE） company’s future potential Business strategies Non-financial

  38. Slide 38: FY2024-2026 Medium-term Management Policies Quantitative Target

    FY2024-2026 Medi-term Management Policies Quantitative Target 4,500 Net sales Operating profit 21.0 4,000 17.5 250 （billion yen） 10.9 12.0 3,500 3.7 Net sales 3,000 -7.5 Operating -11.3 336.0 -50 335.0 330.0 338.0 2,500 profit 304.4 254.4 2,000 234.5 1,500 -35 FY2020 2020年度 FY2021 2021年度 FY2022 2022

  39. Slide 39: Measures to be undertaken

    Measures to be undertaken Copyright© UNIPRES CORPORATION, All Rights Reserved. 39

  40. Slide 40: Strengthening of Revenue Base (Improvement of ROE)

    Strengthening of Revenue Base（Improvement of ROE ） ＜Improvement of operating profit＞ ＜ Reduction of equity capital ＞ 0.7 billion yen Dividend 3.9 ▲9.4 billion Reduce loss in the new 25.0 billion yen yen automotive billion Acquisition of parts yen 5.5 Improvement manufactur treasury stock billion of

  41. Slide 41: Business Strategies

    Business Non-financial strategies strategies Business Strategies Financial strategies Shareholders/ investors Technology Smartification Development Sales Expansion Proposal of optimal Production Car body press car body structure  Expand sales to new  Weight reduction/ cost customers, including eme

  42. Slide 42: Enhancement of shareholder returns

    Business Non-financial strategies strategies Enhancement of shareholder returns Financial strategies Shareholders/ investors  Aim for the stable and an appropriate level of dividends, with an awareness of DOE  Aim for DOE of over 2% for the time being and 3% in the medium term (yen/share) Year-end

  43. Slide 43: Cash Allocation

    Business Non-financial strategies strategies Cash Allocation Financial strategies Shareholders/ investors  Cumulative total for 3 years from FY2024 to FY2026 ＜Cash Inflows＞ ＜ Cash outflows ＞ Dividend 9.4 billion yen R&D 18.0 billion yen Operating Capital investment Cash flow 55.0 billion yen 123.5

  44. Slide 44: Achieve Sustainability Management

    Business Non-financial strategies strategies Achieve Sustainability Management Financial strategies Shareholders/ investors Investment in human capital Well-being Management  Career  Human relations  Economic aspect ‐Implementation of career ‐Improvement of psychological safety ‐Revision of wage

  45. Slide 45: Bolster IR/SR Initiatives

    Business Non-financial strategies strategies Bolster IR/SR Initiatives Financial strategies Shareholders/ investors Further enhance IR/SR activities, including strengthening information disclosure, thereby bridging the perception gap with shareholders and investors and enhancing corporate value FY２０

  46. Slide 46: UNIPRES

    <4 D> UNIPRES

  47. Slide 47: Reference: Exchange rate

    Exchange rate Reference （yen） FY2022 FY2023 Preconditions of FY2024 Average for Average for forecast the period term end the period term end US $ 136.00 133.54 145.31 151.40 140.00 STG ￡ 162.07 160.01 176.22 180.66 175.00 EURO 138.49 141.44 153.14 157.09 150.00 MEX $ 6.60 6.81 8.04 8.35 8.10 RMB 19.

  48. Slide 48: Precautions for treatment of material

    Precautions for treatment of material The future outlook of the Company mentioned in this presentation material was prepared based on information available to the Company that point in time. This is absolutely an expectation about the future at this point in time, which contains risks and uncertain

Unipres — FY2023 Earnings Presentation on 6ix