Aisin Corporation · TSE:7259

Aisin — FY2021 Earnings Presentation

38 slides from Aisin's earnings presentation, Apr 28, 2022

  1. Slide 1: Financial Results for the Fiscal Year Ended March 31, 2022

    For the Fiscal year Ended March 31 (April 1st, 2021 to March 31st, 2022) Financial Results April 28 th, 2022 AISIN CORPORATION For the Fiscal year Ended March 31, 2022 Financial Results/ 2022.4.28 / © AISIN CORPORATION All Rights Reserved.

  2. Slide 2: FYE2022 Overview of Financial Results

    FYE2022 Overview of Financial Results Regarding to the FYE2022 result, Revenue and Operating profit increased year on year due to structural reforms and acceleration of cost reduction activities at the new Aisin, although there were negative factors such as a shortage of semiconductors and soaring p

  3. Slide 3: Consolidated Financial Result (FYE2022)

    Consolidated Financial Result (FYE2022) For the Fiscal year Ended March 31, 2022 Financial Results / 2022.4.28 / © AISIN CORPORATION All Rights Reserved. 1

  4. Slide 4: FYE2022 Results Financial Summary

    FYE2022 Results Financial Summary （ ）shows rate to Revenue % 【Billion JPY】 FYE2021 FYE2022 Change rate FYE2022 Forecast Change Results Results ％ @Feb 2nd announcement Revenue 3,525.7 - 3,917.4 - +391.7 +11.1 3,950.0 - Operating Profit 145.3 (4.1) 182.0 (4.6) +36.7 +25.2 220.0 (5.6) Profit before inc

  5. Slide 5: FYE2022 Revenue by Customer

    FYE2022 Revenue by Customer Mobility 【 Billion JPY 】 Energy Solutions and others Revenue by Customer（Other OEMs） 3,917.4 118.5 FYE2021 FYE2022 3,525.7 Change rate Customer Change (3.0%) Results Results (%) 109.2 (3.1%) Stellantis 193.9 236.5 +42.6 +22.0 VW & Audi 240.3 218.8 -21.5 -8.9 1,359.7 SUZUK

  6. Slide 6: FYE2022 Segment Information

    FYE2022 Segment Information FYE2021 Results FYE2022 Results 【Billion JPY】 Revenue（YoY＋391.7） Operating Profit （YoY＋36.7） +138.5 +11.7 116.5 104.8 2,172.1 2,033.6 +33.6 +7.3 48.8 +77.4 +78.1 34.9 -9.1 +106.8 -0.0 27.6 585.7 456.9 -12.4 15.2 508.3 341.4 378.8 370.2 5.1 5.1 332.3 263.4 -4.2 -16.6 Japan

  7. Slide 7: FYE2022 Analysis of Operating Profit

    FYE2022 Analysis of Operating Profit 【vs. April 2021 announcement】 【+ 5.0】 【- 8.0】 【vs. February 2022 announcement】 【+ 5.0】 【-14.0】 【 Billion JPY 】 【+ 0.0】 【-1.0】 【- 31.5】 【-30.0】 【+ 0.0】 +15.0 -33.3 【-1.0】 【- 24.0】 【- 5.0】 【+22.5】 +45.0 + 46.0 -45.0 【+ 6.0】 -15.0 182.0 +24.0 145.3 FYE2021 Sales & P

  8. Slide 8: Consolidated Financial Forecast (FYE2023)

    Consolidated Financial Forecast (FYE2023) For the Fiscal year Ended March 31, 2022 Financial Results / 2022.4.28 / © AISIN CORPORATION All Rights Reserved. 2

  9. Slide 9: FYE2023 Forecast Financial Summary

    FYE2023 Forecast Financial Summary （ ）shows rate to Revenue % 【Billion JPY】 FYE2022 FYE2023 Change rate (Ref.)FYE2018 Change Results Forecasts ％ Result Revenue 3,917.4 - 4,450.0 - +532.6 +13.6 3,908.9 - Operating Profit 182.0 (4.6) 190.0 (4.3) +8.0 +4.4 253.8 (6.5) Profit before income taxes 219.9 (

  10. Slide 10: FYE2023 Revenue by Customer

    FYE2023 Revenue by Customer Mobility 【 Billion JPY 】 Energy Solutions and others Revenue by Customer（Other OEMs） 4,450.0 Customer FYE2022 FYE2023 Change Change rate 129.0 Results Forecast (%) 3,917.4 (2.9%) Stellantis 236.5 324.0 +87.5 +37.0 118.5 (3.0%) VW & Audi 218.8 179.0 -39.8 -18.2 1,535.0 SUZ

  11. Slide 11: FYE2023 Segment Information

    FYE2023 Segment Information FYE2022 Results FYE2023 Forecast 【 Billion JPY 】 Revenue（YoY＋532.6） Operating Profit （YoY＋8.0） +147.9 -19.5 2,320.0 116.5 2,172.1 97.0 -8.8 +10.1 +114.3 +173.1 45.0 48.8 +29.8 +1.9 40.0 700.0 +67.7 +17.6 34.9 630.0 585.7 456.9 400.0 370.2 400.0 5.1 7.0 332.3 1.0 Japan Nor

  12. Slide 12: FYE2023 Analysis of Operating Profit

    FYE2023 Analysis of Operating Profit 【 Billion JPY 】 +15.0 -19.0 +44.0 -65.0 +50.0 -25.0 182.0 190.0 +8.0 FYE2022 Sales & Product Materials/ FX Impact Cost structure Structural Fixed Expenditure FYE2023 mix etc. Freight cost Improvement Result reforms expense etc. for Key areas Forecast Sales & Prod

  13. Slide 13: Business Progress

    Business Progress For the Fiscal year Ended March 31, 2022 Financial Results / 2022.4.28 / © AISIN CORPORATION All Rights Reserved. 3

  14. Slide 14: Aisin Group Business Field

    Aisin Group Business Field low fuel consumption Current Future Contribute to energy High efficiency and efficiency of the entire vehicle AT HEV eAxle Power Management Energy Management Regenerative Cooling High-efficiency and high- Variable Electric Switching cooperative module precision regenerativ

  15. Slide 15: Powertrain Unit Market Forecast

    Powertrain 120,000 Unit Market Forecast (k units/year) 100,000 M/T 80,000 A/T CVT 60,000 DCT HEV unit 40,000 20,000 eAxle 0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 (Source: S&P Global) While preparing a full lineup of powertrain units according to the market, we are promoting preparations

  16. Slide 16: Electric Unit Lineup

    Electric Unit Lineup 2020 2025 2030 Small and 2M-HEV High efficiency/low cost Model development Pursuit of better fuel efficiency medium Pursuit of better FF PHEV electric mileage EV PHEV affinity HEV Large The charm of 1M-PHEV premium motion FR 1M-HEV Motion and fuel economy Small For small cars Sm

  17. Slide 17: Increasing production of electric units

    Increasing production of electric units e-Four increased production Ultra-compact (Japan, North America) EV drive unit FR 1 motor HEV (Japan) (North America) Electromechanical (k units/year) integration eAxle (Japan) eAxle/e-Four 1,730 930 HEV unit 2021 2022 2023 2024 2025 Sequentially launching pro

  18. Slide 18: Shift of capital investment for the future

    Shift of capital investment for the future ■New capital investment in powertrain business 230 billion yen (billion yen) 200 electrification Cumulative investment 100 0 100％ Composition ratio Electrification 50％ ICE 0％ ‘21 ’22 ‘23 ‘24 ‘25 New investment in units for ICE will be almost completed by 20

  19. Slide 19: Aisin group Main new products for Toyota bZ4X

    Electrification Aisin group Main new products for Toyota bZ4X Electric Unit Connected ■eAxle (150kw Fr, 80kW Fr/Rr) ■Car Navigation System for BEV • Electromechanical integration • Contributes to improvement of electricity cost by loss reduction technology such as • Addition of functions for BEV suc

  20. Slide 20: Expansion of development system for EV products

    Electrification Expansion of development system for EV products Established an EV Promotion Center directly under the top management to expand the Aisin Group's EV products Before From now on Board of Board of directors directors EV Promotion Main role Center General Manager: Yamamoto CESO (1) Formu

  21. Slide 21: Aisin group Main new products for Toyota new NOA/VOXY

    Safe, secure and comfortable Aisin group Main new products for Toyota new NOA/VOXY Universal Step Free Stop Back Door The operation of the step is linked with the opening and We realized a back door that can be used safely closing of the sliding door, and the simple structure that even in narrow pla

  22. Slide 22: Shared service "Choisoko" expanded to 27 local governments

    Safe, secure and comfortable Shared service "Choisoko" expanded to 27 local governments / 15 prefectures nationwide Nationwide expansion status (As of Mar.2022) ：In service (27 local governments / 15 prefectures) ：To be in service (7 local governments / 7 prefectures) ：In examination A state of a de

  23. Slide 23: Efforts for carbon neutrality: CO2-free production

    Efforts for carbon neutrality: CO2-free production ■CO2-free production of eAxle While reducing CO2 as much as possible by promoting energy-saving activities and introducing renewable energy, we achieved CO2-free production including offsets due to carbon credits. -Place: Anjo Plant Ⅰ (Anjo-City, Ai

  24. Slide 24: Efforts for carbon neutrality: CO2-free production

    Efforts for carbon neutrality: CO2-free production ■Realization of super-eco production line concept Introduced super-eco production line concept from production line for bZ4X eAxle Manual work area Approximately 40% of (with workers) Diversion of existing AT equipment production equipment is Fluctu

  25. Slide 25: Promotion of alliances

    Promotion of alliances ■Joint development of "carbon recycled concrete" with Taisei Corporation We will promote joint development of the technology to immobilize CO2 as calcium carbonate by utilizing the amino acids possessed by Aisin for the carbon recycled concrete developed by Taisei Corporation,

  26. Slide 26: Promotion of alliances

    Promotion of alliances ■Investing in Tohoku Magnet Institute Invested in Tohoku Magnet Institute, a venture company from Tohoku University that develops nanocrystal soft magnetic materials*, and accelerated advanced development aiming for unprecedented high-efficiency motors. *The world's top ultra-

  27. Slide 27: Reference information

    Reference information For the Fiscal year Ended March 31, 2022 Financial Results / 2022.4.28 / © AISIN CORPORATION All Rights Reserved. 4

  28. Slide 28: Revenue Details (FYE2022 Result, FYE2023 Forecast)

    Revenue Details（FYE2022 Result・FYE2023 Forecast） （ ）shows composition ratio 【Billion JPY】 FYE2021 FYE2022 FYE2022 Forecasts Change % Results Results (@Feb announcement) Powertrain 1,968.3 (55.8) 2,234.3 (57.0) +266.0 +13.5 2,240.0 Chassis & Vehicle 780.0 650.2 (18.5) 766.7 (19.6) +116.5 +17.9 Mobili

  29. Slide 29: CAPEX / Depreciation / R&D

    CAPEX / Depreciation / R&D 【Billion JPY】 By Sub-group FYE2021 FYE2022 FYE2023 By Business company Results Results Forecast AISIN SEIKI-G 77.0 Powertrain 96.7 125.0 Chassis & Vehicle AW-G 73.7 Safety systems 46.6 49.0 CAPEX ADS-G 29.6 Body 31.9 35.5 Others 9.9 CSS* & Others 43.5 50.5 Total 190.2 Tota

  30. Slide 30: FYE2022 Segment by Region

    FYE2022 Segment by Region 【Billion JPY】 FYE2021 FYE2022 Region Change Results Results FX Others Japan 2,033.6 2,172.1 +138.5 - +138.5 North America 508.3 585.7 +77.4 +33.0 +44.4 Revenue Europe 341.4 332.3 -9.1 +2.3 -11.4 China 378.8 456.9 +78.1 +47.9 +30.2 Asia & Others 263.4 370.2 +106.8 +9.4 +97.4

  31. Slide 31: FYE2023 Segment by Region

    FYE2023 Segment by Region 【Billion JPY】 FYE2022 FYE2023 Region Change Results Forecasts FX Others Japan 2,172.1 2,320.0 +147.9 - +147.9 North America 585.7 700.0 +114.3 +17.3 +97.0 Revenue Europe 332.3 400.0 +67.7 -0.2 +67.9 China 456.9 630.0 +173.1 +21.2 +151.9 Asia & Others 370.2 400.0 +29.8 +8.7

  32. Slide 32: Highlights of Financial Performance

    Highlights of Financial Performance R&D expenditure Revenue／Operating Profit／Operating profit ratio ／Ratio of R&D expenditure to revenue Revenue Operating Profit Operating profit ratio R&D expenditure Ratio of R&D expenditure to revenue 【%】 【 Billion JPY 】 【%】 【 Billion JPY 】 4,450.0 202.1 205.8 210

  33. Slide 33: Toyota production/Powertrain Unit Sales

    Toyota production/Powertrain Unit Sales 【10,000 Unit】 Toyota production Volume Powertrain Unit Sales Volume （）Total sales of HEV, eAxle (after FYE2021） Domestic Overseas 999 953 916 904 888 (93) 906 893 (70) 816 591 567 643 526 315 326 290 273 FYE2019 Result FYE2020 Result FYE2021 Result FYE2022 Res

  34. Slide 34: Half Yearly Performance

    Half Yearly Performance 【10,000 Unit】 Revenue Revenue Powertrain Unit Sales （）Total sales of HEV, eAxle (after FYE2021） 【Billion JPY】 531 516 506 （42） 484 493 469 （52） 467 458 446 （41） 357 （28） 1,855.1 2,053.8 1,994.4 2,048.7 1,913.7 1,870.8 2,069.8 1,864.7 2,052.7 1,455.9 0.0 1H 2H 1H 2H 1H 2H 1H 2

  35. Slide 35: Quarterly Performance

    Quarterly Performance Revenue 【 10,000 Unit 】 Revenue Powertrain Unit Sales （）Total sales of HEV, eAxle (after FYE2021） 【 Billion JPY 】 274 258 258 258 260 （20） （22） 243 227 238 245 233 234 246 246 247 236 220 （20） 226 220 222 （17） （21） （27） （25） 137 （10） 938.0 1,030.2 986.5 1,029.7 950.7 1,048.5 97

  36. Slide 36: Capital policy

    Capital policy Our core capital policy is to maximize corporate value by maintaining the balance between “financial safety” and “capital efficiency”. We regard capitalization ratio*1 as an important financial index to assess our capital structure, and believe the ratio from 25% to 30% represents opt

  37. Slide 37: Return to Shareholders

    Return to Shareholders Our “Return to shareholders” policy is to achieve steady dividend payout with a dividend payout ratio of around 30%. We also consider to repurchase Treasury Stock based on our capitalization ratio and future investment trends. Profit before income taxes／ EPS Dividends per shar

  38. Slide 38: Note on future predictions

    【Note on future predictions 】 Excluding matters related to past and current facts, the business results forecasts and forward-looking estimates, strategies and targets disclosed by the Company are estimates regarding the future. These estimates are formulated from plans, expectations and judgments m

Aisin — FY2021 Earnings Presentation on 6ix