Aisin Corporation · TSE:7259
Aisin — AISIN SEIKI — Q3 FY2019 Earnings Presentation
25 slides from Aisin's earnings presentation, Feb 1, 2019
Slide 1: FY2019 3rd Quarter Consolidated Financial Results
FY2019 3rd Quarter Consolidated Financial Results February 1st, 2019 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 Operating Results P.2-7 (FY2019 3rd Quarter(9 months)) 2.Consolidated Operating Forecast P.8-13 (FY2019- 12 months) 3.Reference Information P.14-24 1/24
Slide 3: 1. Consolidated Operating Results (FY2019 3rd Quarter (9 months))
1.Consolidated Operating Results (FY2019 3rd Quarter(9 months)) 2/24
Slide 4: Overview of Financial Results
FY2019 3rd Quarter(9 months) Overview of Financial Results 1. Revenue for FY2019 3rd quarter is the highest ever before, due to the increase of AT, Brake and Body parts sales. 2. Operating profit for FY2019 3rd quarter decreased due to the increase of fixed cost such as depreciation cost by advanced
Slide 5: Consolidated Operating Results (FY2019 3rd Quarter)
Consolidated Operating Results (FY2019 3rd Quarter(9 months)) FY2018 3Q FY2019 3Q Change Rate to Rate to Results Results Amount % (Billion yen) Revenue % Revenue % Revenue 2,878.6 - 3,013.3 - +134.7 +4.7 Operating Profit 185.6 6.4 161.4 5.4 -24.2 -13.1 Profit before income taxes 200.9 7.0 174.7 5.8
Slide 6: Sales by Customer (FY2019 3rd Quarter)
Sales by Customer(FY2019 3rd Quarter(9 months)) FY2018 3rd Quarter Revenue Other Auto Makers sales breakdown Life & others (Billion yen) (Billion yen) Chinese OEMs Total 90.8 1,400 170.9 ⇒ 206.8 (+35.9) (3.1%) Other Toyota +103.3 1,213.5 1,200 Auto Makers 2,878.6 Group 1,110.2 1,110.2 1,677.5 301.9
Slide 7: Segment Information (FY2019 3rd Quarter)
Segment Information (FY2019 3rd Quarter(9 months)) Revenue (+ 134.7) Operating Profit (- 24.2) (Billion yen) (Billion yen) FY2018 3Q FY2019 3Q FY2018 3Q FY2019 3Q 2,000 +69.1 FX Other -30.0 FX Other Impact factors Impact factors 1,800 1,760.5 Japan - +69.1 130 Japan -0.4 -29.6 1,691.4 123.0 1,600 No
Slide 8: Fluctuations for Operating Profit (FY2019 3rd Quarter)
Fluctuations for Operating Profit (FY2019 3rd Quarter(9 months)) FY2018 3Q / FY2019 3Q (Billion yen) -3.1 -7.3 +25.0 material price Change of Depreciation +18.5 -57.3 improvement Cost structure Sales fluctuation 185.6 +0.0 Fixed cost & others 161.4 161.4 Operating Profit FX impact (Except non-ordina
Slide 9: 2. Consolidated Operating Forecast (FY2019 - 12 months)
2.Consolidated Operating Forecast (FY2019 - 12 months) 8/24
Slide 10: Consolidated Operating Forecast (FY2019)
Consolidated Operating Forecast (FY2019 - 12 months) FY2018 FY2019 Change FY2019 Rate to Rate to Rate to Forecast Results Revenue Forecast Revenue Amount % Revenue in October (Billion yen) % % % Revenue 3,908.9 - 3,980.0 - +71.1 +1.8 4,000.0 - Operating Profit 253.8 6.5 210.0 5.3 -43.8 -17.3 234.0 5
Slide 11: Forecast of Sales by Customer
Forecast of Sales by Customer (FY2019 - 12 months) FY2018 Revenue Other Auto Makers sales breakdown Life & others (Billion yen) (Billion yen) Chinese OEMs Total 122.5 230.1⇒245.1(+15.0) 1,800 (3.1%) Other 1,600 +41.7 1,561.0 1,519.3 Auto Makers 3,908.9 Toyota 1,519.3 Group 1,400 376.5 393.4 Others +
Slide 12: Forecast of Segment Information
Forecast of Segment Information (FY2019 - 12 months) +4 Revenue (+71.1) Operating Profit (- 43.8) (Billion yen) +49.3 (Billion yen) -40.5 2,600 FY2018 FY2019 FY2018 FY2019 FX Other FX Other 2,400 2,350.0 Impact factors 169.8 Impact factors 2,300.7 Japan - +49.3 Japan -3.6 -36.9 2,200 155 North Ameri
Slide 13: Forecast of Fluctuations for Operating Profit
Forecast of Fluctuations for Operating Profit (FY2019 - 12 months) FY2018 / FY2019 (Billion yen) -3.9 +36.0 -16.6 material price Change of -9.0 Depreciation 253.8 -45.4 improvement Cost structure Sales fluctuation -4.9 Fixed cost & others Operating Profit 214.9 210.0 FX impact non-ordinary factors)
Slide 14: Forecast of Fluctuations for Operating Profit vs October Forecast
Forecast of Fluctuations for Operating Profit (FY2019 - 12 months) FY2019(Forecast in October) / FY2019 (Forecast) (Billion yen) 234.0 -17.5 +2.0 (Forecast in Oct) Operating Profit +3.1 -9.9 Depreciation Sales fluctuation material price Change of -1.7 & others Fixed cost 211.7 210.0 FX impact non-or
Slide 15: 3. Reference Information
3.Reference information 14/24
Slide 16: Capital Expenditure/Depreciation/R&D Expenditure
Capital Expenditure/Depreciation/ R&D Expenditure Capital Expenditure Depreciation R&D Expenditure (Billion yen) （）: Rate to sales Others 390.0 ADS-G AW-G AISIN SEIKI-G 34.2 294.1 260.3 237.4 155.0 23.7 230.0 213.4 (5.0%) 19.0 (4.7%) 200.0 39.7 186.1 197.1 (5.0%) (4.7%) 182.9 18.3 22.7 162.6 167.7 2
Slide 17: Toyota car production
Toyota car production Toyota Domestic Toyota Oversea Toyota global production production production (10,000 Unit) 4Q 3Q 887 909 892 904 2Q 1Q 215 225 220 224 573 596 578 590 135 144 137 135 227 220 232 234 314 313 314 140 151 151 155 314 80 81 83 232 231 223 222 89 152 148 147 149 80 76 81 79 80 83
Slide 18: Sales Number
Sales Number AT sales MT sales (10,000 Unit) (10,000 Unit) 983 990 1,000 200 869 160 165 164 153 800 737 258 238 234 150 39 40 39 35 600 191 258 246 224 100 43 45 48 36 400 194 246 207 234 41 39 34 39 200 172 50 180 204 233 260 37 42 42 43 0 0 FY2016 FY2017 FY2018 FY2019 FY2016 FY2017 FY2018 FY2019
Slide 19: Foreign Currency Exchange Rate
Foreign Currency Exchange Rate Foreign Exchange Rate (yen) 145 132 130 129 119 120 120 EUR 95 109 111 110 USD 70 25.0 18.8 CNY 20.0 16.1 16.8 16.3 THB 15.0 10.0 3.4 3.1 3.4 3.4 5.0 0.0 FY2016 FY2017 FY2018 FY2019 (Forecast) Impacts on Forex Impact on Operating profit per 1(or 0.1) yen Operating Prof
Slide 20: Financial Results of the Main Consolidated Companies I
Financial Results of the Main Consolidated Companies Ⅰ AISIN SEIKI Group 4.7% 4.9% 4.4% (Billion yen) (Billion yen) ◆ ◆ ◆ 150 2,000 1,760.0 1,641.9 1,776.2 1,503.0 ◆ 3.7% 120 1,500 4Q 436.1 80.5 78.0 90 70.8 65.0 1,000 19.5 60 1,323.9 500 3Q 30 45.5 0 0 FY2016 FY2017 FY2018 FY2019(Forecast) AISIN AW
Slide 21: Financial Results of the Main Consolidated Companies II
Financial Results of the Main Consolidated Companies Ⅱ AISIN Takaoka Group 4.5% 4.4% (Billion yen) (Billion yen) ◆ 4.1% ◆ 3.2% 30 400 ◆ ◆ 317.0 300 275.9 273.0 295.7 4Q 79.5 20 13.8 200 12.3 11.9 8.8 4.1 3Q 10 100 237.5 9.7 0 0 FY2016 FY2017 FY2018 FY2019(Forecast) AISIN AI Group (Billion yen) 5.3%
Slide 22: Financial Results of the Main Consolidated Companies III
Financial Results of the Main Consolidated Companies Ⅲ ADVICS Group (Billion yen) 2.0% (Billion yen) 1.7% 1.1% 1.7% ◆ 800 ◆ ◆ 30 ◆ 589.2 600 551.6 555.4 586.5 4Q 141.8 20 400 11.9 9.2 10.1 10 6.1 3Q 447.4 5.1 200 6.8 0 0 FY2016 FY2017 FY2018 FY2019(Forecast) 21/24
Slide 23: Quarterly Performance
Quarterly Performance Revenue (10,000 Unit) (Billion yen) 1,800 232 226 231 227 225 232 220 224 222 234 250 220 220 215 217 223 224 200 1,200 1,030.2 1,007.9 1,018.9 907.5 957.5 917.0 938.0 1,023.5 986.5 966.6 771.2 792.2 843.5 838.9 838.6 858.8 150 600 100 50 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
Slide 24: Half Yearly Performance
Half Yearly Performance Revenue (10,000 Unit) (Billion yen) 3,000 451 457 452 440 452 446 458 436 480 2,400 2,053.8 1,994.4 1,985.5 360 1,697.5 1,865.0 1,855.1 1,800 1,563.4 1,682.5 240 1,200 600 120 0 0 1st H 2nd H 1st H 2nd H 1st H 2nd H 1st H 2nd H(Forecast) FY2016 FY2017 FY2018 FY2019 Operating
Slide 25: Dividend
Dividend per Share * The results before FY2015 are based on JGAAP and the others are based on IFRS. FY2019 FY2014 FY2015 FY2016 FY2017 FY2018 (Forecast) Interim 35 45 50 50 60 60 Dividend (yen) Year-end 60 50 50 75 90 90 Total 95 95 100 125 150 150 Dividend Payout Ratio 29.7% 34.7% 28.2% 28.1% 30.6%