Giken Ltd. · TSE:6289
Giken — FY2021 Earnings Presentation
25 slides from Giken's earnings presentation, May 2022
Slide 1: Financial Results Overview FY2021
Financial Results Overview FY2021 GIKEN LTD. <stock code : 6289> 1
Slide 2: Overview－Key Points
Overview－Key Points (1) Construction Machinery Segment • Development by the private sector has progressed, such as redevelopment of the Metropolitan area and the Kinki area due to the World Expo in Osaka. With customers’ capital investment appetite showing a recovery trend, sales of standard equipme
Slide 3: Overview－3 year Trend
Overview－3 year Trend Unit : Millions of JPY FY2019 FY2020 FY2021 YoY YoY Net sales 32,442 24,640 -24.0% 27,618 +12.1% Operating 6,689 2,498 -62.6% 3,997 +59.9% Profit Ordinary 6,761 2,792 -58.7% 4,161 +49.0% Profit Net Profit※ 4,571 1,400 -69.4% 3,073 +119.4% Profit per 168.80 51.28 -69.6% 112.22 +
Slide 4: Overview－Sales Result by Segment
Overview－Sales Result by Segment Unit : Millions of JPY 35,000 ◇Construction Machinery 32,442 Segment 30,000 Up 3,542M JPY 27,618 8,803 • Sales of standard equipment -564 24,640 increased thanks to 25,000 +2.8% -6.2% 8,484 replacement demand. • Sales of F301-900 for 900 20,000 9,048 mm hat-type shee
Slide 5: Overview－Sales Result Domestic and Overseas
Overview－Sales Result Domestic and Overseas Unit : Millions of JPY 19.8% 60,000 20.0% ◇Domestic sales Up 335M JPY 18.0% 50,000 15.5% Product sales increased. 16.0% 14.0% 40,000 11.4% ◇Overseas sales 12.0% 32,442 Up 2,642M JPY 30,000 5,044 27,618 10.0% -44.1% +93.8% • Large-scale special 24,640 5,460
Slide 6: Overview－Operating Profit
Overview－Operating Profit Unit : Millions of JPY Construction Press-in Machinery Construction Segment Segment Increase in net Decrease in net sales sales Increase in -564 cost of sales Increase in Decrease in Operating research and stock Decrease in profit -1,538 development compensation travel expe
Slide 7: Overview－Operating Profit to Net Sales
Overview－Operating Profit to Net Sales Unit : Millions of JPY 35,000 20.5% 21.0% 19.7% 20.6% 18.7% 32,442 30,000 17.2% 29,142 18.0% 27,618 25,965 25,000 24,640 14.5% 15.0% 22,017 20,000 18,824 12.0% 10.1% 15,000 9.0% 10,000 6.0% 5,977 6,689 5,124 5,000 4,111 3,997 3.0% 3,233 2,498 0 0.0% FY2015 FY20
Slide 8: Overview－Sales by Category: Construction Machinery Segment (1)
Overview－Sales by Category: Construction Machinery Segment (1) Unit : Millions of JPY 25,000 23,638 • Customers’ appetite for 707 capital investment recovered thanks to an 20,000 5,078 19,134 increase in private 678 sector development, 15,592 leading to growth of 15,000 725 5,374 sales of products.
Slide 9: Overview－Sales by Category: Construction Machinery Segment (2)
Overview－Sales by Category: Construction Machinery Segment (2) Sales by Product Categories Unit : Millions of JPY 18,000 Special Purpose Models 16,000 15,912 Clear Piler 1,159 Zero Piler 831 14,000 GRB System, others 12,481 12,000 1,246 6,622 Large-scale Models 1,384 10,000 9,279 Models handling 900
Slide 10: Overview－Sales by Category: Press-in Construction Segment
Overview－Sales by Category: Press-in Construction Segment Unit : Millions of JPY 10,000 9,048 Domestic sales decreased 8,803 9,000 8,484 • Sales declined with a decrease 8,000 1,552 in large-scale works such as levee construction in Shikoku 3,246 314 7,000 547 2,934 and Kinki and river revetment 393
Slide 11: Overview－Overseas Sales by Segment
Overview－Overseas Sales by Segment Overseas Sales Net Sales Distribution Unit : Millions of JPY by Region 6,000 5,460 5,044 Asia 14.1% 5,000 Oceania Africa 40.1% 8.1% 4,000 2,934 North 3,246 and Latin 2,818 America 3,000 s Europe 28.5% 9.2% 2,000 1,552 2,526 1,000 1,797 1,265 0 FY2019 FY2020 FY2021
Slide 12: Overview－Consolidated Balance Sheet
Overview－Consolidated Balance Sheet Unit : Millions of JPY Account title FY2020 FY2021 YoY change Increase in cash and deposits Assets 3,707M JPY Current Assets 25,477 26,907 1,430 Decrease in inventories -3,016M JPY Non-current Assets 24,231 24,759 527 Assets 49,708 51,667 1,958 Liabilities Current
Slide 13: Overview－Consolidated Cash Flow Statement
Overview－Consolidated Cash Flow Statement Unit : Millions of JPY Growth ◇CF from Operating Activities Category FY2020 FY2021 Comparison YoY change +4,505M JPY • Increased due to profit before income tax and CF from Operating a decline in inventories. 3,263 7,768 4,505 Activities ◇CF from Investing A
Slide 14: Overview－Capital Investment Expense
Overview－Capital Investment Expense Unit : Millions of JPY 10,000 8,000 Kochi Head Office South Bldg. 138 Kochi Factory No.3 263 Kochi Factory No.3 384 Dormitory in Kansai 153 Demonstration 6,000 Kochi Factory Training Center 38 Almere Office and Facility 309 No.2 230 Kochi Head Office Almere Office
Slide 15: Overview－Research and Development Expense
Overview－Research and Development Expense Unit : Millions of JPY 1,400 3.3% 3.5% 1,200 3.0% 2.5% 2.5% 1,000 2.5% 800 2.0% 600 1.5% 922 400 803 1.0% 625 200 0.5% 0 0.0% FY2019 FY2020 FY2021 R&D Ratio to Net Sales 15
Slide 16: FY2022 Forecast
FY2022 Forecast 16
Slide 17: Forecast－Consolidated Results
Forecast－Consolidated Results Unit : Millions of JPY FY2021 Forecast for FY2022 Actual 1st half 2nd half Full year YoY Net sales 27,618 14,000 16,000 30,000 +8.6% Operating 3,997 2,270 2,230 4,500 +12.6% profit Ordinary 4,161 2,300 2,250 4,550 +9.3% profit Net Profit※ 3,073 1,500 1,700 3,200 +4.1% P
Slide 18: Forecast－Key Points (1) Domestic Trend
Forecast－Key Points (1) Domestic Trend ◎Increased adoption of Implant Method • Implant method has been increasingly adopted for river projects, disaster prevention of steep slopes, road disaster prevention, renovation of expressways, port development projects, aseismic measures for ponds, and anti-l
Slide 19: Forecast－Key Points (2) Overseas Trend
Forecast－Key Points (2) Overseas Trend ◎Focus on ‘total package’ solutions and accelerate the take-up of press-in methodologies globally • In January 2022, pilot works will start for the canal revetment repair works in Amsterdam, the Netherland • To strengthen construction method proposals to local
Slide 20: Forecast－Sales by Segment
Forecast－Sales by Segment Unit : Millions of JPY 40,000 ◇Construction 35,000 Machinery Segment 30,000 Up 1,665M JPY 30,000 +715 27,618 Press-in machine sales 24,640 +8.4% are expected to grow led 25,000 9,200 -6.2% 8,484 by increased adoption of 20,000 9,048 +1,665 the Implant Method both in Japan a
Slide 21: Forecast－Capital Investment, R&D Expenses
Forecast－Capital Investment, R&D Expenses ◎Capital Investment and Depreciation Expenses ◎R&D Expenses Demonstration Facility 1,349 Unit : Millions of JPY Unit : Millions of JPY 4,000 1,400 3.3% 3.3% 3.5% 3,060 3,174 3,000 1,200 3.0% 2,294 2.5% 1,901 1,952 2,036 2,000 1,000 2.5% 1,000 800 2.0% 600 1.
Slide 22: Forecast－Overseas Sales Trend
Forecast－Overseas Sales Trend Unit : Millions of JPY 19.8% 20.0% 8,000 20.0% 7,000 18.0% 16.0% 6,000 14.0% 5,000 11.4% 12.0% 4,000 10.0% 8.0% 3,000 6,000 5,460 6.0% 2,000 4.0% 2,818 1,000 2.0% 0 0.0% FY2020 FY2021 FY2022 forecast Offshore Ratio to Net Sales 22
Slide 23: Forecast－Medium-Term Management Plan
Forecast－Medium-Term Management Plan 【Net Sales】 Unit : Millions of JPY 【Operating Profit】 Unit : Millions of JPY Medium-Term Medium-Term Management Plan Management Plan 40,000 8,000 35,000 35,000 6,689 32,442 30,000 6,000 30,000 27,618 5,500 24,640 25,000 4,500 3,997 20,000 4,000 15,000 2,498 10,00
Slide 24: Shareholder Return
Shareholder Return 24
Slide 25: Shareholder Return
Shareholder Return FY2021 FY2022 Interim dividend : 35 yen (result) Interim dividend : 35 yen Year-end dividend : 35 yen (forecast) Year-end dividend : 35 yen Unit : yen 80 Interim Yearend 70 70 70 70 70 68 60 60 Commemorative 50 30 34 35 35 35 30 40 30 20 20 35 35 35 30 34 10 20 0 FY2017 FY2018 FY2