Jvckenwood Corporation · TSE:6632
Jvckenwood — FY2021 Earnings Presentation
28 slides from Jvckenwood's earnings presentation, Apr 27, 2021
Slide 1: Results and Forecast Briefing, Fiscal Year Ended March 2021
Translation for Reference Only JVCKENWOOD Results and Forecast Briefing Fiscal Year Ended March 2021（IFRS) April 27, 2021 JVCKENWOOD Corporation Copyright © 2021 JVCKENWOOD Corporation. All rights reserved.
Slide 2: Business Domains
Business Domains *All figures in this document are prepared in accordance Media Service Sector (MS) Others with International Financial Reporting Standards (IFRS). ■Media Business ■ DX※ Business, etc. ・Solutions/Lifestyle/Brand video cameras, headphones, projectors, home audio, Automotive Sector (AM
Slide 3: Overview of Financial Results for FYE3/'21
1. Overview of Financial Results for FYE3/’21 2. Full-Year Earnings Forecast for FYE3/’22 3. Major Efforts in FYE3/’22
Slide 4: 1. Overview of Financial Results for FYE3/'21
1. Overview of Financial Results for FYE3/’21 2. Full-Year Earnings Forecast for FYE3/’22 3. Major Efforts in FYE3/’22
Slide 5: Financial Results for FYE3/'21 - Highlights
Financial Results for FYE3/’21 - Highlights While revenue decreased due to the impact of COVID-19, all levels of profit or loss below core operating income exceeded the results of the previous year due to a recovery in the second half. （Billion yen） FYE3/’20 FYE3/’21 Composition Composition YoY ra
Slide 6: JVCKENWOOD Group - Trends in Quarterly Results
JVCKENWOOD Group - Trends in Quarterly Results In the second half of FYE3/’21, the results significantly recovered from the impact of COVID-19 and the core operating income exceeded 10 billion yen for the first time after the merger. Core Operating Revenue Income (Billion yen) FYE3/’19 FYE3/’20 FY
Slide 7: Progress of CEM Project and Enhancement of Business Structure
Progress of CEM* Project and Promotion of Enhancement of Business Structure * CEM＝COVID-19 Emergency Measures (Urgent countermeasures against novel coronavirus) Full-Year Actual 1Q~ Control capital Reduce overtime costs: Reduce general CEM Project investment: Approx. 30% Approx. 50+% expenses: Appro
Slide 8: Increase and Decrease of Operating Profit (by Factor)
Financial Results for FYE3/’21 – Increase and Decrease of Operating Profit (by Factor) Improvement in initially forecast Effect of COVID-19 core operating income Emergency Measures (CEM*) （Billion yen） Impacts of COVID-19 Decrease in other revenue and cost -1.0 +2.3 4.9 4.1 -10.2 +9.7 FYE3/’20 Opera
Slide 9: Financial Results for FYE3/'21 - Results by Sector
Financial Results for FYE3/’21 – Results by Sector （Billion yen） 3Q(1-3Q) 3Q(1-3Q) YoY change YoY change Factors 'FYE3/’20 'FYE3/’21 (amount) (percentage) *Revenue at the Aftermarket Business was affected by the impact of COVID-19 in 1Q, but increased year-on-year due to a recovery in sales for the
Slide 10: Consolidated Revenue by Sector
Financial Results for FYE3/’21 – Consolidated Revenue by Sector (Billion yen) (Billion yen) Consolidated Revenue by Sector (Full-Year) Consolidated Revenue by Sector (4Q) 3,200 320.0 80.0 800 -1.1 +1.4 +6.2 -6.7 +0.3 -9.8 Others AM -5.3 +4.1 PS MS (DX, etc.) PS MS Others (DX, etc.) 2,400 240.0 AM 70
Slide 11: Consolidated Core Operating Income by Sector
Financial Results for FYE3/’21 － Consolidated Core Operating Income by Sector (Billion yen) Consolidated Core Operating Income (Billion yen) Consolidated Core Operating Income by Sector (Full-Year) by Sector (4Q) 100 10.0 60 6.0 +0.6 +0.3 -0.3 MS Others (DX, etc.) +2.5 -1.1 +3.5 PS +0.7 7.5 75 -0.3
Slide 12: Quarterly Results - Automotive Sector
Quarterly Results - Automotive Sector In FYE3/’21, the results affected by the semiconductor supply problem in 4Q significantly recovered in the second half, and the total core operating income in the second half exceeded 5 billion yen. Core Operating Revenue Income (Billion yen) FYE3/’19 FYE3/’20
Slide 13: Quarterly Results - Public Service Sector
Quarterly Results - Public Service Sector In FYE3/’21, core operating income increased in the second half due to strong sales of the Communications System Business and the effect of improvements in business structure. Core Operating Revenue Income (Billion yen) FYE3/’19 FYE3/’20 FYE3/’21 (Billion
Slide 14: Quarterly Results - Media Service Sector
Quarterly Results - Media Service Sector In FYE3/’21, revenue and core operating income increased due to the solid Media Business that captured demand for staying at home in the second half. Core Operating Revenue Income (Billion yen) FYE3/’19 FYE3/’20 FYE3/’21 (Billion yen) 25.0 250 2.5 25 Entert
Slide 15: Quarterly Results - Others
Quarterly Results - Others In FYE3/’21, while an allowance was set aside in 4Q, full-year revenue and core operating income increased sharply due to continued strong sales in telematics solutions. Core Operating Revenue Income (Billion yen) FYE3/’19 FYE3/’20 FYE3/’21 (Billion yen) 7.5 75 2.5 25 Ot
Slide 16: Consolidated Revenue by Region
Financial Results for FYE3/’21 - Consolidated Revenue by Region While full-year revenue declined in all regions excluding Others, 4Q revenue increased in all regions other than Japan, which was affected by a shortage of components. (Billion yen) (Billion yen) Consolidated Revenue by Region (Full-Y
Slide 17: Transition in consolidated revenue by region
Transition in consolidated revenue by region All regions achieved a year-on-year revenue increase in 4Q excluding Japan, which was affected by a shortage of components. (Billion yen) FYE3/’19 FYE3/’20 FYE3/’21 100.0 1,000 Others Asia/China Europe Americas 800 80.0 1.5 1.5 Japan 2.5 1.9 1.6 9.6 1.4
Slide 18: Consolidated Profit/Loss (Summary)
Financial Results for FYE3/’21 - Consolidated Profit/Loss (Summary) While impairment loss amounted to approximately 2.8 billion yen in the Media Service and Public Service Sectors due to the impact of COVID-19 and the revision of business policy, all levels of profit or loss increased due to an in
Slide 19: Financial Position (Summary)
Financial Results for FYE3/’21 - Financial Position (Summary) Cash and deposits as of the end of March 2021 amounted to 59.6 billion yen. Together with securities, on-hand liquidity was 61.9 billion yen (on-hand liquidity ratio: 2.4 months). Commitment line of approx. 30.0 billion yen is unused.
Slide 20: Cash Flow Summary
Financial Results for FYE3/’21 - Cash Flow Summary Net cash provided by operating activities increased, reflecting profit before income taxes and cash inflows from working capital. Net cash used in investing activities decreased due to a decrease in purchases of property, plant and equipment as
Slide 21: 2. Full-Year Earnings Forecast for FYE3/'22
1. Overview of Financial Results for FYE3/’21 2. Full-Year Earnings Forecast for FYE3/’22 3. Major Efforts in FYE3/’22
Slide 22: Earnings Forecast for FYE3/'22
Earnings Forecast for FYE3/’22 The outlook will remain uncertain for the time being due to the impact of a delay in procuring components caused by a fire at a supplier at the Communications Systems Business, as well as a potential significant impact of globally tight semiconductor demand/supply in
Slide 23: 3. Major Efforts in FYE3/'22
1. Overview of Financial Results for FYE3/’21 2. Full-Year Earnings Forecast for FYE3/’22 3. Major Efforts in FYE3/’22
Slide 24: Major Efforts in FYE3/'22 - Dashcams
Major Efforts in FYE3/’22 - Dashcams Company-wide dashcam revenue in the first half exceeded 30 billion yen Sold in various sectors including the Aftermarket Business and OEM in the Automotive Sector and non-life insurance in the DX Business, dashcams achieved company-wide revenue of over 30 bil
Slide 25: Major Efforts in FYE3/'22 - Automotive Sector
Major Efforts in FYE3/’22 - Automotive Sector Transition in ASK revenue OEM For dealer-installed products, we seek to acquire new large projects of car navigations and dashcams, in addition to enhancing our response to the shortage of semiconductors and other components. ASK, a subsidiary in I
Slide 26: Major Efforts in FYE3/'22 - Public Service Sector
Major Efforts in FYE3/’22 - Public Service Sector Communications Systems Transition in EFJT revenue In the continuously robust public safety market, we will work to acquire orders for large projects including P25 systems for a certain county in the United States in collaboration with EFJT, a com
Slide 27: Major Efforts in FYE3/'22 - Media Service Sector
Major Efforts in FYE3/’22 - Media Service Sector Media Enhance product lines for markets that are expected to grow, including high-precision remote communications, demand for staying at home due to more hours being spent at home, and preparation for natural disasters and pandemics that have beco
Slide 28: Forward-looking statements notice
The expressions contained in this presentation referring to the Company's future plans, intentions and expectations are categorized as future forecast statements. Such statements reflect management expectations of future events, and accordingly, are inherently susceptible to risk, uncertainty and ot