Aisin Corporation · TSE:7259
Aisin — AISIN SEIKI — FY2020 Q2 Earnings Presentation
28 slides from Aisin's earnings presentation, Oct 31, 2019
Slide 1: FY2020 2nd Quarter Consolidated Financial Results
FY2020 2nd Quarter Consolidated Financial Results October 31st, 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 Financial Results P.2-8 (FY2020 2nd Quarter) 2.Consolidated Financial Forecast P.9-11 (FY2020 2nd Half- 6 months) 3.Consolidated Financial Forecast (FY2020 - 12 months) P.12-17 4.Reference Information P.18-27 1/27
Slide 3: 1. Consolidated Financial Results (FY2020 2nd Quarter)
1.Consolidated Financial Results (FY2020 2nd Quarter) 2/27
Slide 4: FY2020 2nd Quarter Overview of Financial Results
FY2020 2nd Quarter Overview of Financial Results 1. Revenue for FY2020 2nd Quarter decreased due to unfavorable Automatic Transmission sales in China. 2. Operating profit for FY2020 2nd Quarter decreased due to the decrease of sales and increase of depreciation cost by advanced investment, in spite
Slide 5: Consolidated Financial Results (FY2020 2nd Quarter)
Consolidated Financial Results (FY2020 2nd Quarter) FY2019 2Q FY2020 2Q Change FY2020 2Q (Billion yen) Rate to Rate to Disclosed Rate to Results Revenue % Results Revenue % Amount % forecast in Revenue July % Revenue 1,994.4 - 1,913.7 - -80.7 -4.0 1,910.0 - Operating Profit 123.2 6.2 53.4 2.8 -69.8
Slide 6: Sales by Customer (FY2020 2nd Quarter)
Sales by Customer (FY2020 2nd Quarter) FY2019 2nd Quarter Revenue Other Auto Makers sales breakdown Life & others (Billion yen) (Billion yen) Chinese OEMs Total 60.2 139.8 ⇒ 66.8 (-73.0) (3.0%) 810.0 800 Other -155.5 Toyota Auto Makers 1,994.4 Group 238.0 810.0 654.5 (40.6%) 1,124.2 (56.4%) 600 18.9
Slide 7: Segment Information (FY2020 2nd Quarter)
Segment Information (FY2020 2nd Quarter) Revenue (-80.7) Operating Profit (-69.8) (Billion yen) -42.1 FY2019 2Q FY2020 2Q (Billion yen) FY2019 2Q FY2020 2Q FX Other 80 -46.6 FX Other 1,200 Impact factors 1,153.2 Impact factors 1,111.1 -3.6 -43.0 Japan - -42.1 70.4 Japan 70 North North America ±0.0 ±
Slide 8: Fluctuations for Operating Profit (FY2020 2nd Quarter)
Fluctuations for Operating Profit (FY2020 2nd Quarter) FY2019 2Q / FY2020 2Q (Billion yen) Depreciation -10.2 123.2 Production Preparation cost -2.5 R&D cost -0.8 -51.5 Operating Profit +3.1 -4.4 +2.8 +14.0 Structural reforms FX impact material price Change of -20.3 Sales fluctuation improvement Cos
Slide 9: Fluctuations for Operating Profit vs July Forecast
Fluctuations for Operating Profit (FY2020 2ndQuarter) FY2020 2Q(Forecast in July) (Billion yen) / FY2020 2Q(Result) Depreciation +1.2 Production Preparation cost +0.5 R&D cost +0.4 -3.3 +1.2 +1.3 material price Change of 53.4 & others Fixed cost +1.6 FX impact +1.0 -0.5 Operating Profit Structural r
Slide 10: 2. Consolidated Financial Forecast (FY2020 2nd Half - 6 months)
2.Consolidated Financial Forecast (FY2020 2nd Half- 6 months) 9/27
Slide 11: Consolidated Financial Forecast (FY2020 2nd Half)
Consolidated Financial Forecast (FY2020 2nd Half- 6 months) FY2019 2H FY2020 2H Change FY2020 2H (Billion yen) Rate to Rate to Forecast in Rate to Results Revenue Forecast Revenue Amount % April Revenue % % % Revenue 2,048.7 - 1,926.3 - -122.4 -6.0 2,060.0 - Operating Profit 82.3 4.0 21.6 1.1 -60.7
Slide 12: Forecast of Fluctuations for Operating Profit (2nd Half)
Forecast of Fluctuations for Operating Profit (FY2020 2nd Half- 6 months) FY2020 2H (Forecast in April) (Billion yen) / FY2020 2H (Forecast) 110.0 Depreciation +0.8 -33.5 Production Preparation cost +1.8 Operating Profit (Forecast in April) R&D cost -0.4 -1.5 +1.4 -8.8 -4.4 Sales fluctuation +2.2 St
Slide 13: 3. Consolidated Financial Forecast (FY2020 - 12 months)
3.Consolidated Financial Forecast (FY2020 - 12 months) 12/27
Slide 14: Consolidated Financial Forecast (FY2020 - 12 months)
Consolidated Financial Forecast (FY2020 - 12 months) FY2019 FY2020 Change FY2020 (Billion yen) Rate to Rate to Forecast Rate to Results Revenue Results Revenue Amount % Revenue % % % in July Revenue 4,043.1 - 3,840.0 - -203.1 -5.0 3,970.0 - Operating Profit 205.5 5.1 75.0 2.0 -130.5 -63.5 160.0 4.0
Slide 15: Forecast of Sales by Customer (FY2020)
Forecast of Sales by Customer (FY2020 - 12 months) FY2019 Revenue Other Auto Makers sales breakdown Life & others (Billion yen) (Billion yen) Chinese OEMs Total 127.2 258.7 ⇒135.2(-123.5) 1,600 1,599.0 (3.1%) -208.0 Toyota 1,391.0 1,400 419.0 Other Group Auto Makers 4,043.1 2,316.8 (57.3%) 1,200 326
Slide 16: Forecast of Segment Information (FY2020)
Forecast of Segment Information (FY2020 - 12 months) Revenue (-203.1) Operating Profit (- 130.5) (Billion yen) -168.3 (Billion yen) FY2019 FY2020 FY2019 FY2020 2,500 2,376.3 FX Other FX Other Impact factors Impact factors 2,208.0 Japan - -168.3 Japan -13.5 -64.4 2,000 North North America +0.4 -8.9 -
Slide 17: Forecast of Fluctuations for Operating Profit (FY2020)
Forecast of Fluctuations for Operating Profit (FY2020 - 12 months) FY2019 / FY2020 (Billion yen) Depreciation Production Preparation cost +26.2 231.7 (Except non-ordinary factors for FY 2019 ) Operating Profit (Forecast) Quality-related quality-related 205.5 costs for FY 2019 -96.0 costs Operating P
Slide 18: Forecast of Fluctuations for Operating Profit vs July Forecast
Forecast of Fluctuations for Operating Profit (FY2020 - 12 months) FY2020 (Forecast July) (Billion yen) / FY2020 (Forecast) Depreciation +2.0 160.0 Production Preparation cost +2.3 R&D cost ±0 (Forecast) Operating Profit -32.5 -2.0 +3.0 -7.5 -3.5 +3.4 fluctuation Sales 125.2 improvement Cost structu
Slide 19: 4. Reference Information
4.Reference information 18/27
Slide 20: Capital Expenditure/Depreciation/R&D Expenditure
Capital Expenditure/Depreciation/ R&D Expenditure Capital Expenditure Depreciation R&D Expenditure （）: Rate to sales (Billion yen) Others 389.9 ADS-G AW-G AISIN SEIKI-G AW-G of 32.9 320.0 FY2020(Forecast) amount includes AISIN AI Group by integration. 260.3 38.8 245.0 237.4 144.9 226.4 (5.4%) 213.4
Slide 21: Toyota car production
Toyota car production Toyota Domestic Toyota Oversea Toyota global production production production (10,000 Unit) 4Q 3Q 909 892 906 905 2Q 1Q 225 226 218 220 596 578 591 577 144 137 136 138 227 234 226 232 313 315 328 151 151 155 147 314 80 231 223 222 228 81 83 90 79 148 147 149 144 76 81 79 83 76
Slide 22: Sales Number
Sales Number AT sales MT sales (10,000 Unit) 2nd H (10,000 Unit) 983 999 1,000 869 925 200 247 165 164 800 258 151 234 150 39 40 246 479 33 114 600 258 224 100 45 48 36 400 246 57 207 234 220 39 34 39 200 50 29 204 233 260 226 42 42 43 0 28 0 FY2017 FY2018 FY2019 FY2020 FY2017 FY2018 FY2019 FY2020 (
Slide 23: Foreign Currency Exchange Rate
Foreign Currency Exchange Rate Foreign Exchange Rate (yen) 140 130 129 119 118 EUR 120 100 USD 109 111 111 107 80 20.0 16.1 16.8 16.5 15.1 CNY 10.0 3.1 3.4 3.4 3.5 THB 0.0 FY2017 FY2018 FY2019 FY2020 (Forecast) Impacts on Forex Impact on Operating Operating Profit profit per 1(or 0.1) yen (Billion y
Slide 24: Financial Results of the Main Consolidated Companies I
Financial Results of the Main Consolidated Companies Ⅰ AISIN SEIKI Group 4.9% ◆ 4.4% (Billion yen) (Billion yen) ◆ 3.8% ◆ 120 2,000 1,776.2 1,782.6 1,700.0 1,641.9 80.5 78.0 90 1,500 67.0 2.0% 2H 838.7 ◆ 1,000 60 33.2 500 3.1 2H 30 1H 861.3 30.1 1H 0 0 FY2017 FY2018 FY2019 FY2020(Forecast) AISIN AW
Slide 25: Financial Results of the Main Consolidated Companies II
Financial Results of the Main Consolidated Companies Ⅱ AISIN Takaoka Group (Billion yen) 4.5% 4.2% (Billion yen) ◆ 4.1% ◆ ◆ 2.9% 30 400 ◆ 320.7 314.3 300 273.0 295.7 20 13.5 2H 152.5 200 12.3 11.9 9.0 10 100 4.0 2H 1H 161.8 5.0 1H 0 0 FY2017 FY2018 FY2019 FY2020(Forecast) ADVICS Group (Billion yen)
Slide 26: Quarterly Performance
Quarterly Performance Revenue (Billion yen) (10,000 Unit) 1,800 231 227 225 232 234 226 233 250 226 217 223 220 224 222 228 200 1,200 1,023.5 1,030.2 1,007.9 986.5 1,018.9 1,029.7 963.0 907.5 957.5 917.0 938.0 950.7 838.6 858.8 150 600 100 50 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2017 FY20
Slide 27: Half Yearly Performance
Half Yearly Performance Revenue (10,000 Unit) (Billion yen) 3,000 457 452 440 452 446 460 461 444 480 2,400 2,053.8 1,994.4 2,048.7 1,926.3 360 1,865.0 1,855.1 1,913.7 1,697.5 1,800 240 1,200 600 120 0 0 1H 2H 1H 2H 1H FY2019 2H 1H 2H (Forecast) FY2017 FY2018 FY2020 Operating Profit (Billion yen) 21
Slide 28: Dividend per Share
Dividend per Share * The results of FY2015 are based on JGAAP and the others are based on IFRS. FY2020 FY2015 FY2016 FY2017 FY2018 FY2019 (Forecast) Interim 45 50 50 60 60 60 Dividend (yen) Year-end 50 50 75 90 90 60 Total 95 100 125 150 150 120 Dividend Payout 34.7% 28.2% 28.1% 30.6% 36.7% 80.9% Ra