Mikuni Corporation · TSE:7247
Mikuni — H1 FY2022 Earnings Presentation
24 slides from Mikuni's earnings presentation, Nov 22, 2022
Slide 1: Financial Results Briefing for the Six Months ended September 30, 2022
(Reference Translation) Financial Results Briefing for the Six Months ended September 30, 2022 November 22, 2022 Securities 証券コード identification : 7247 code: 7247 Copyright(c) 2021 MIKUNI CORP. All Right Reserved.
Slide 2: Financial Results Briefing Agenda and Speakers
Financial Results Briefing November 22, 2022 Tuesday 14:00-15:00 at Mikuni Building Agenda 1. Consolidated Financial Results for the Six Months ended September 3, 2022 2. Forecast for the Fiscal Year ending March 31, 2023 3. Mid-to-long term Initiatives and Related Topics 4. Q&A Session Speakers His
Slide 3: Consolidated Financial Results for the Six Months ended September 30, 2022
Consolidated Financial Results for the Six Months ended September 30, 2022 Note Our fiscal year begins on April 1 of each year and ends on March 31 of the following year. Copyright(c) 2021 MIKUNI CORP. All Right Reserved. 3
Slide 4: Net Sales and Composition Ratio by Business Segment
6 Months ended Sept. 30, 2022 Mikuni's Business Segments Net Sales and Composition Ratio by Business Segment 3% 82% Other Business Automotive- related Products Welfare vehicles, Nursing equipment 5% Turf-Care Equipment Others Turf-Care1,177 Sales of Turf-care equipment etc. 2,339 ≫ for Four-wheelers
Slide 5: Financial Highlights
6 Months ended Sept. 30, 2022 Financial Highlights Financial performance bottomed out in the July-September period and is expected to recover in the months ahead. Efforts to strengthen competitiveness will continue. • Sales, especially in the automotive-related products business, exceeded the same p
Slide 6: Financial Highlights: Operating Results by Segment
6 Months ended Sept. 30, 2022 Financial Highlights *continued from the previous page OPERATING RESULTS BY SEGMENT Turf-care Equipment, etc. Sales Business • Sales and income increased due to steady capital investment by customers, especially golf courses, and successful focus on after-sales services
Slide 7: Summary of Income Statement
6 Months ended Sept. 30, 2022 Summary of Income Statement Forecast for FY2022 ended 6 months 6 months March, 2023 ended Sept. ended Sept. Change 30, 2021 30, 2022 Initial Revised (Millions of yen) Net sales 39,556 44,810 5,254 95,000 95,100 Operating income 1,902 724 (1,178) 3,500 2,800 Ordinary inc
Slide 8: Net Sales and Operating Income by Business Segment
Net Sales and Operating Income 6 Months ended Sept. 30, 2022 by Business Segment Net Sales and Operating Income by Business Segment (Apr. – Sept. , 2020 and 2021) 6 Months 6 Months Change Change in Operating ended September, 2021 ended September, 2022 in Net Sales Income Operating Operating Net Sale
Slide 9: Transition of Quarterly Net Sales and Operating Income
Transition of Quarterly Net Sales 6 Months ended Sept. 30, 2022 and Operating Income ■Automotive Products Business ■Household Appliances Device Products Business ■Aircraft Parts Import and Sales Business ■Turf-Care Equipment Sales Business ■Other Business (Millions of yen) 30,000 25,145 25,145 24,17
Slide 10: Automotive Product Segment Comparison with Last Two Fiscal Years
(Reference) Comparison of Net Sales and Operating Income in Automotive Product Segment with the Last Two Fiscal Years (Previous Accounting Standard) (Millions of yen) ASEAN India 12,532 11,299 12,355 16,404 8,337 10,174 9,353 243 100 98 90 6,740 151 67 100 139 FY2019 FY2020 FY2021 FY2022 FY2019 FY20
Slide 11: Summary of Balance Sheet
6 Months ended Sept. 30, 2022 Summary of Balance Sheet End of March End of September Change (Millions of yen) 2022 2022 in amount Current assets 51,010 58,412 7,402 Fixed assets 45,906 48,638 2,731 Total assets 96,917 107,051 10,133 Current liabilities 33,553 41,361 7,808 Fixed liabilities 31,444 30
Slide 12: Transition of Cash Flow
6 Months ended Sept. 30, 2022 Transition of Cash Flow Operating activities turned negative by -580 million yen, mainly due to increased demand for funds associated with inventories. In investing activities, capital expenditures amounted to -3.0 billion yen. Free cash through the first half was minus
Slide 13: Depreciation, Capital Investment and R&D Expenses
Depreciation, Capital Investment 6 Months ended Sept. 30, 2022 and R&D Expenses (Millions of yen) Depreciation and Capital Investment 7,411 Depreciation Capital Investment 8,000 7,364 7,000 6,570 6,000 4,621 4,651 4,762 4,790 5,000 4,338 4,000 3,284 3,163 3,000 2,000 2Q 2Q 2Q 1,000 2Q 2,407 2,680 2,
Slide 14: Transition of Capital Ratio and Interest-Bearing Debt
6 Months ended Sept. 30, 2022 Summary of Balance Sheet Transition of Capital Ratio 40.0% 30.0% 33.1% 32.1% 31.8% 29.4% 20.0% 28.6% 10.0% 0.0% March, 2019 March, 2020 March, 2021 March, 2021 March, 2022 Transition of Interest-Bearing Debt (Millions of yen) 50,000 39,932 40,000 36,568 35,363 33,627 30
Slide 15: Forecast for the Fiscal Year Ending March 31, 2023
Forecast for the Fiscal Year Ending March 31, 2023 Copyright(c) 2021 MIKUNI CORP. All Right Reserved. 15
Slide 16: Forecast for FY ending March 31, 2023 Summary of Income Statement
Forecast for FY ending March 31, 2023 Summary of Income Statement Forecast for FY2020 ended FY2021 ended FY2022 ending March, 2021 March, 2022 March, 2023 (Millions of yen) Net sales 86,962 80,789 95,100 Operating income 569 3,318 2,800 Ordinary income 597 3,137 2,500 Net income attributable to owne
Slide 17: Six-Monthly Performance Trends
Forecast for FY ending March 31, 2023 Six-Monthly Performance Trends April - April – Forecast September October 2021 – September October 2022 2021 March 2022 2022 – March 2023 (Millions of yen) Net sales 39,556 41,233 44,810 50,290 Operating income 1,902 1,416 724 2,076 Ordinary income 1,685 1,452 4
Slide 18: Net Sales and Operating Income by Business Segment Forecast
Forecast for Net Sales and Operating Income FY ending March 31, 2023 by Business Segment Net Sales and Operating Income by Business Segment (FY2021 and FY2022) FY2021 FY2022 Change Change in Operating ended March, 2022 ending March, 2023 in Net Sales Income Operating Operating Net Sales Net Sales In
Slide 19: Mid- and Long-term Initiatives and Related Topics
Mid- and Long-term Initiatives and Related Topics Copyright(c) 2021 MIKUNI CORP. All Right Reserved. 19
Slide 20: Mobility business in India leads the growth of Mikuni Group
Mobility business in India leads the growth of Mikuni Group Leveraging Mikuni's strengths in India, the world's largest motorcycle market Contribute to the growth of the Indian automobile market with our FY2018 India, （Millions of yen） 地域別売上高（インド） （単位:百万円） Net Sales in India Consolidated Net Sal
Slide 21: Topics: Business Expansion in India
Topics: Business Expansion in India Expanding production for fuel injection system for motorcycles in India Global Motorcycle Market Indian Motorcycle Market (Volume Share by Region) (Volume Share by Maker) Increasing production of VVT (Variable Valve Timing)* in India With a capital investment
Slide 22: Products for EV to be 70% by FY2030
Products for EV to be 70% by FY2030 We will increase the sales ratio of EV products to more than 70% of our automobile (four-wheeler) business segment by 2030 （Examples of products developed for EVs） FY2021 EV 10% ICE Coolant Control Valve 90% for Motor Battery Inverter Electronic Parking FY2030 Loc
Slide 23: Topics: New Businesses for EV, Activities for the Next Generation
Topics: New Businesses for EV, Activities for the Next Generation New businesses for EV June: Began production of electric oil pumps for light EV trucks. August: Began mass production and supply of accelerator pedal modules to a BEV (Battery Electric Vehicle) manufacturer in California, U.S.A. N
Slide 24: Disclaimer
Disclaimer 1. This document has been prepared on a consolidated basis. 2. This document summarizes the financial results and earnings forecasts that have already been announced, and is provided solely for the purpose of providing information to investors, and is not intended as a solicitation to buy