Aisin Corporation · TSE:7259
Aisin — Aisin Seiki — FY2018 Q2 Earnings Presentation
26 slides from Aisin's earnings presentation, Oct 31, 2017
Slide 1: FY2018 2nd Quarter Consolidated Financial Results
FY2018 2nd Quarter Consolidated Financial Results October 31st, 2017 AISIN SEIKI Co., Ltd.
Slide 2: Contents
Contents 1.Consolidated Operating Results P.2-8 (FY2018 2nd Quarter) 2.Consolidated Operating Forecast P.9-14 (FY2018 - 12 months) 3.Reference Information P.15-25 1
Slide 3: 1. Consolidated Operating Results (FY2018 2nd Quarter)
1.Consolidated Operating Results (FY2018 2nd Quarter) 2
Slide 4: FY2018 2nd Quarter Overview of Financial Results
FY2018 2nd Quarter Overview of Financial Results 1. Revenue increased compared to last year due to favorable AT and Body parts sales, and the contribution of newly consolidated Art Metal Mfg. Co., Ltd. group. 2. Operating profit increased due to the increase of sales and FX trend, in spite of the ri
Slide 5: Consolidated Operating Results (FY2018 2nd Quarter)
Consolidated Operating Results (FY2018 2nd Quarter) FY2017 2Q FY2018 2Q Change FY2018 2Q Rate to Rate to Disclosed Rate to Results Revenue % Results Revenue % Amount % forecast in Revenue (Billion yen) July % Revenue 1,697.5 - 1,855.1 - +157.6 +9.3 1,840.0 - Operating Profit 94.8 5.6 108.0 5.8 +13.2
Slide 6: Sales by Customer (FY2018 2nd Quarter)
Sales by Customer(FY2018 2nd Quarter) FY2017 2nd Quarter Revenue Other Auto Makers sales breakdown Life & others (Billion yen) (Billion yen) Chinese OEMs Total 59.2 52.4⇒101.9(+49.5) 800 (3.4%) 705.7 Other Toyota +107.3 Auto Makers Group A/M & 1,697.5 Others 598.4 1,039.9 598.4 180.4 +27.2 600 (35.3
Slide 7: Segment Information (FY2018 2nd Quarter)
Segment Information (FY2018 2nd Quarter) Revenue (+ 157.6) Operating Profit (+ 13.2) (Billion yen) FY2017 2Q FY2018 2Q (Billion yen) FY2017 2Q FY2018 2Q 1,200 +100.6 +18.4 FX Other FX Other 80 Impact factors Impact factors 1,088.3 71.2 Japan +5.9 +12.5 Japan - +100.6 987.7 North 1,000 North America
Slide 8: Fluctuations for Operating Profit (FY2018 2nd Quarter)
Fluctuations for Operating Profit (FY2018 2nd Quarter) FY2017 2Q / FY2018 2Q (Billion yen) +14.0 -13.0 material price Change of improvement Cost structure *Gain from stock swap -10.5 +7.7 108.0 with SHIROKI Corporation -19.5 +24.5 +0.4 Depreciation FX impact 100.3 Fixed cost & others Operating Profi
Slide 9: Fluctuations for Operating Profit vs July Forecast
Fluctuations for Operating Profit (FY2018 2nd Quarter) FY2018 2Q(Forecast in July) / FY2018 2Q(Result) (Billion yen) -1.5 +0.6 +0.1 +2.3 +3.5 105.7 108.0 Depreciation FX impact material price Change of Fixed cost & others (Result) Operating Profit Sales fluctuation (Except Operating Profit non-ordin
Slide 10: 2. Consolidated Operating Forecast (FY2018 - 12 months)
2.Consolidated Operating Forecast (FY2018 - 12 months) 9
Slide 11: Consolidated Operating Forecast (FY2018 - 12 months)
Consolidated Operating Forecast (FY2018 - 12 months) FY2017 FY2018 Change FY2018 (Billion yen) Rate to Rate to Disclosed Rate to Results Revenue % Forecast Revenue % Amount % forecast in Revenue April % Revenue 3,562.6 - 3,780.0 - +217.4 +6.1 3,670.0 - Operating Profit 228.6 6.4 242.0 6.4 +13.4 +5.8
Slide 12: Forecast of Sales by Customer
Forecast of Sales by Customer (FY2018 - 12 months) FY2017 Revenue Other Auto Makers sales breakdown Life & others 121.3 (Billion yen) (Billion yen) Chinese OEMs Total 1,600 148.1⇒228.3(+80.2) (3.4%) 1,471.0 Other Toyota 1,400 +171.0 A/M & Auto Makers 3,562.6 Group 1,300.0 Others 364.8 +29.4 1,300.0
Slide 13: Forecast of Segment Information
Forecast of Segment Information (FY2018 - 12 months) +4 Revenue (+217.4) Operating Profit (+ 13.4) (Billion yen) +151.9 (Billion yen) +18.3 2,400 FY2017 FY2018 157.1 FY2017 FY2018 160 2,225.0 FX Other FX Other 2,200 Impact factors Impact factors 2,073.1 Japan - +151.9 138.8 Japan +7.3 +11.0 2,000 No
Slide 14: Forecast of Fluctuations for Operating Profit
Forecast of Fluctuations for Operating Profit (FY2018 - 12 months) FY2017 / FY2018 (Forecast) * Gain from stock swap (Billion yen) with SHIROKI Corporation -19.5 Gain resulting from negative goodwill +33.0 -31.0 with Art Metal MFG -1.2 -22.9 +14.3 +10.6 improvement Cost structure material price Chan
Slide 15: Forecast of Fluctuations for Operating Profit vs April Forecast
Forecast of Fluctuations for Operating Profit (FY2018 - 12 months) FY2018(Forecast in April) / FY2018 (Forecast) (Billion yen) -6.0 242.0 +11.0 material price +17.3 Change of (Forecast) Operating Profit -10.3 Sales fluctuation 230.0 & others Fixed cost 224.7 FX impact (Forecast in April) Operating P
Slide 16: 3. Reference Information
3. Reference Information AISIN 4 \ GROUP 15
Slide 17: Capital Expenditure/Depreciation/R&D Expenditure
Capital Expenditure/Depreciation/ R&D Expenditure Capital Expenditure Depreciation R&D Expenditure (Billion yen) 294.1 280.0 Others ADS-G AW-G 247.8 AISIN SEIKI-G 23.7 237.4 23.0 220.0 （）: Rate to sales 197.1 (4.8%) 186.1 25.8 39.7 94.0 (5.0%) (4.7%) 183.0 161.0 18.5 (5.0%) 162.6 167.7 123.2 15.3 20
Slide 18: Toyota car production
Toyota car production Toyota Domestic Toyota Oversea Toyota global production production production (10,000 Unit) 4Q 3Q 899 887 909 885 2Q 1Q 222 215 225 218 586 573 596 571 140 135 144 134 223 220 227 227 314 313 148 140 151 147 313 314 231 232 231 223 82 80 81 84 151 152 148 147 75 80 76 80 80 80
Slide 19: Sales number
Sales number MT sales 2nd H AT sales (10,000 Unit) (10,000 Unit) 1,000 980 869 200 800 160 165 687 737 234 144 151 513 150 39 191 39 600 171 37 224 45 75 194 100 43 400 176 36 207 234 172 172 50 35 41 39 34 200 168 180 204 233 36 37 42 42 0 0 FY2015 FY2016 FY2017 FY2018 FY2015 FY2016 FY2017 FY2018 (
Slide 20: Foreign Currency Exchange Rate
Foreign Currency Exchange Rate Foreign Exchange Rate (yen) 145 138 132 128 119 120 95 120 EUR 110 109 111 USD 70 25.0 18.0 18.8 16.1 16.6 CNY 20.0 THB 15.0 10.0 3.4 3.4 3.1 3.3 5.0 0.0 FY2015 FY2016 FY2017 FY2018 (Forecast) Impacts on Forex Impact on Operating Operating Profit profit per 1(or 0.1) y
Slide 21: Financial Results of the Main Consolidated Companies I
Financial Results* Theofresults the Main Consolidated Companies Ⅰ of FY2015 are based on JGAAP and the others are based on IFRS. AISIN SEIKI Group 4.7% 4.9% (Billion yen) (Billion yen) ◆ 4.1% 150 2,000 3.4% ◆ ◆ ◆ 1,641.9 1,700.0 120 1,402.5 1,503.0 1,500 80.5 2nd H 856.3 69.0 90 1,000 70.8 48.1 60 3
Slide 22: Financial Results of the Main Consolidated Companies II
Financial Results of the Main Consolidated Companies Ⅱ based on IFRS. * The results of FY2015 are based on JGAAP and the others are AISIN Takaoka Group (Billion yen) 4.3% 4.5% 4.3% (Billion yen) ◆ ◆ 3.2% ◆ 30 400 ◆ 288.6 300 263.8 275.9 273.0 20 200 2nd H 147.3 12.5 11.2 12.3 8.8 10 100 7.5 1st H 14
Slide 23: Financial Results of the Main Consolidated Companies III
Financial Results* Theof the Main Consolidated Companies Ⅲ based on IFRS. results of FY2015 are based on JGAAP and the others are ADVICS Group 1.8% 1.7% 1.9% (Billion yen) ◆ ◆ ◆ (Billion yen) 800 1.1% 20 9.6 572.7 600 527.3 551.6 555.4 ◆ 15 2nd H 287.7 10.6 400 9.2 10 6.1 7.1 200 5 1st H 285.0 3.5 0
Slide 24: Quarterly Performance
Quarterly Performance * The results of FY2015 are based on JGAAP and the others are based on IFRS. Revenue (10,000 Unit) (Billion yen) 231 223 232 226 231 227 225 223 250 223 222 220 220 215 217 1,200 907.5 957.5 917.0 938.0 200 1,000 858.8 792.2 843.5 838.9 838.6 727.8 756.4 773.2 771.2 800 707.0 1
Slide 25: Half Yearly Performance
Half Yearly Performance * The results of FY2015 are based on JGAAP and the others are based on IFRS. Revenue (10,000 Unit) (Billion yen) 2,400 454 445 451 436 457 452 440 445 480 1,865.0 1,855.1 1,924.9 1,800 1,682.5 1,697.5 360 1,529.7 1,563.4 1,434.8 1,200 240 600 120 0 0 1st H 2nd H 1st H 2nd H 1
Slide 26: Dividend per Share
Dividend per Share * The results before FY2015 are based on JGAAP and the others are based on IFRS. FY2018 FY2013 FY2014 FY2015 FY2016 FY2017 (Forecast) Interim 25 35 45 50 50 60 Dividend (yen) Year-end 50 60 50 50 75 70 Total 75 95 95 100 125 130 Dividend Payout Ratio 27.3% 29.7% 34.7% 28.2% 28.1%