Mitsuboshi Belting Ltd. · TSE:5192
Mitsuboshi Belting — FY2023 Earnings Presentation
18 slides from Mitsuboshi Belting's earnings presentation, May 2024
Slide 1: Financial Results Briefing Materials
Financial Results Briefing Materials (2023/4/1〜2024/3/31） 1
Slide 2: Note to future-oriented statements
Note to future-oriented statements The forward-looking statements in this document, including performance forecasting, are based on currently available information and assumptions considered reasonable by us and do not guarantee our future financial results. Actual results may differ greatly from th
Slide 3: Consolidated Financial Summary
Consolidated Financial Summary （millions of yen） 2023/3（2022/4-2023/3） 2024/3（2023/4-2024/3） Year-on-Year 1st Half 2nd Half Full Year 1st Half 2nd Half Full Year change Margin Margin Margin Margin Margin Margin % +1,103 Sales 42,568 40,343 82,911 42,028 41,986 84,014 +1.3% Operating 4,597 4,433 9,03
Slide 4: Quarterly Results
Quarterly Results （100 mil. of yen) Sales 206 220 212 205 215 210 210 187 185 193 192 191 200 184 183 183 174 175 178 186 169 164 161 169 144 150 100 50 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2019/3 2020/3 2021/3 2022/3 2023/3 2024/3 Operating profit 30 26 24 23 23
Slide 5: Sales by Business
Sales by Business （millions of yen） 2023/3（2022/4-2023/3） 2024/3（2023/4-2024/3） Year-on-Year 1st Half 2nd Half Full Year 1st Half 2nd Half Full Year change Margin Margin Margin Margin Margin Margin % Belts (Japan) 14,288 14,012 28,300 13,877 13,485 27,362 △938 33.6% 34.7% 34.1% 33.0% 32.1% 32.6% △3.
Slide 6: Breakdown of Belt Sales
Breakdown of Belt Sales （millions of yen） 2023/3（2022/4-2023/3） 2024/3（2023/4-2024/3） Year-on-Year 1st Half 2nd Half Full Year 1st Half 2nd Half Full Year change Margin Margin Margin Margin Margin Margin % Automotive belt 18,797 17,993 36,790 19,316 19,404 38,720 +1,930 49.9% 51.6% 50.7% 53.2% 55.4%
Slide 7: Analysis of Operating Profit
Analysis of Operating Profit （100 mil. of yen） 2023/3 2024/3 change (－) Decrease in sales Sales 829.1 840.1 11.0 （Overseas local currency base) Operating 90.3 77.6 △12.7 Effects of sales composition Profit (＋) Decrease in labor costs and logistics costs Ordinary Profit 104.7 96.1 △8.6 Effects of
Slide 8: Capital expenditures and Depreciation
Capital expenditures and Depreciation （100 mil. of yen） Capital expenditures （capitalized amounts） 1st Half 2nd Half 80 60 75 62 37 44 36 60 24 41 34 32 33 40 17 22 21 24 39 27 19 30 15 52 62 20 7 19 21 19 7 9 14 22 10 15 14 12 10 14 11 13 21 18 13 0 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3
Slide 9: Forecast
Forecast （millions of yen） 2025/3 Year-on-Year 2024/3 Forecast change ％ Results 1st Half 2nd Half Full year Sales 84,014 45,000 43,500 88,500 +4,486 +5.3% Operating Profit 7,759 4,400 4,650 9,050 +1,291 +16.6% Margin 9.2% 9.8% 10.7% 10.2% Ordinary Profit 9,605 4,100 4,500 8,600 △1,005 △10.5% Margin
Slide 10: Dividends
Dividends Interim Year-end Total 2023/3 ¥120 ¥130 ¥250 2024/3(Forecast) ¥125 ¥125 ¥250 2025/3(Forecast) ¥90 ¥90 ¥180 250 Payout ratio Ordinary dividend 100 100 2009/3︓482％ 100 200 2010/3︓130％ Special dividend 97 Payout ratio % 80 150 65 250 55 250 60 100 41 37 180 40 28 30 26 24 28 30 29 25 22 21 21
Slide 11: Retirement of treasury shares
Retirement of treasury shares （Thousand Shares） Aggregate number of shares issued as of June 30,1998 51,998 (100%) Total acquisition of common shares 25,799（50％） Total retirement of treasury shares Stock Market Owned Disposal 20,835（40％） FY2023 Aggregate number of shares issued as of March 31,2024 R
Slide 12: Management Conscious of Cost of Capital and Stock Price ①
Action to Implement Management That Is Conscious of Cost of Capital and Stock Price ① “ ’24 Mid-Term Business Plan” marks the second phase toward FY2030 “Target Position.“ The previous plan focused on strengthening our business foundation, while the current plan positions itself as a period of accel
Slide 13: Management Conscious of Cost of Capital and Stock Price ②
Action to Implement Management That Is Conscious of Cost of Capital and Stock Price ② 2024/3 ROE・PBR ROE : 7.6% PBR : 1.35 (x) (X) 16.0% 1.60 14.0% 1.40 12.0% 1.20 ROE（ left ） 10.0% 1.00 ROE（target） 8.0% 0.80 （ left ） Cost of Capital 6.0% 0.60 （ left ） PBR （ right ） 4.0% 0.40 Strengthen financial po
Slide 14: Individual business strategies①
Individual business strategies① 1. Automotive parts ・Expand sales of high value-added system products for accessory drive(for M-HEVs). Respond to electrification・ ・Expand sales of products for electrification of 4-wheeled contribute to environment vehicle control equipment (EPS, PSD) ・Expand sales o
Slide 15: Individual business strategies②
Individual business strategies② 3. Construction materials Respond to improvement of working ・Develop waterproofing and water shield systems and expand sales of Environment product in response to labor shortages Respond to solutions for residential ・Expand sales of energy saving and long-lasting prod
Slide 16: Status of dialogue with shareholders and investors
Status of dialogue with shareholders and investors Dialogue with shareholders and investors（FY2022〜FY2023） （Unit︓Number of times） 2022 2023 Company Responders Financial results briefing for institutional President , Senior Managing Director investors and securities analysts 2 2 (at the end of the se
Slide 17: ESG initiatives（1）
ESG initiatives（1） Time Category Initiatives S Mitsuboshi Belting Fureai Council, a volunteer organization comprising Group employees, formed Nov. 2000 to promote town development where residents and businesses coexist Oct. 2003 G Executive Officer system introduced May 2015 G Risk Management Commit
Slide 18: ESG initiatives（2）
ESG initiatives（2） Time Category Initiatives March S G The Corporate Philosophy, Management Principle, etc. organized into a new philosophy system. Selected as a constituent of the FTSE Blossom Japan Sector Relative Index, a leading index for June E S G ESG investment 2023 “Sustainability Report 202