Aisin Corporation · TSE:7259
Aisin — Q1 FYE2024 Earnings Presentation
24 slides from Aisin's earnings presentation, Jul 28, 2023
Slide 1: Financial Results for the Fiscal Year Ended March 31, 2024 1st Quarter
For the Fiscal year Ended March 31, 2024 1st Quarter (April 1, 2023 to June 30, 2023) Financial Results July 28, 2023 AISIN CORPORATION For the Fiscal year Ended March 31, 2024 1st Quarter Financial Results/ 2023.7.28 / © AISIN CORPORATION All Rights Reserved.
Slide 2: Overview of FYE2024 1st Quarter Financial Results
Overview of FYE2024 1st Quarter Financial Results Revenue increased YoY due to a recovery in vehicle production resulting from an FYE2024 improvement in the semiconductor shortage and an increase in electrification unit sales. 1Q Operating profit increased YoY due to improvements in the business env
Slide 3: Consolidated Financial Results (FYE2024 1st Quarter)
Consolidated Financial Results (FYE2024 1st Quarter) For the Fiscal year Ended March 31, 2024 1st Quarter Financial Results/ 2023.7.28 / © AISIN CORPORATION All Rights Reserved. 1
Slide 4: FYE2024 1st Quarter Results Financial Summary
FYE2024 1st Quarter Results Financial Summary （ ）shows rate to Revenue % 【 Billion JPY 】 FYE2023 1st Quarter FYE2024 1st Quarter Change rate Change Results Results % Revenue 997.8 - 1,191.7 - +193.9 +19.4 Operating Profit 6.6 (0.7) 34.4 (2.9) +27.8 +422.0 Profit before income taxes 31.4 (3.2) 54.4 (
Slide 5: FYE2024 1st Quarter Revenue by Customer
FYE2024 1st Quarter Revenue by Customer Mobility 【 Billion JPY 】 Energy Solutions and others Revenue by Customer（Other OEMs） 1,191.7 Customer FYE2023 1Q FYE2024 1Q Change Change Results Results rate (%) 28.2 997.8 (2.4%) Stellantis 64.5 71.9 +7.4 +11.5 27.9 VW & Audi 46.9 48.0 +1.1 +2.2 (2.8%) 366.0
Slide 6: FYE2024 1st Quarter Segment Information
FYE2024 1st Quarter Segment Information FYE2023 1st Quarter Results FYE2024 1st Quarter Results 【 Billion JPY 】 Revenue（YoY＋193.9） Operating Profit（YoY＋27.8） +94.9 590.8 +50.2 495.9 237.4 +22.5 +0.4 +25.3 187.2 +9.3 +2.3 +14.3 147.4 11.8 +7.4 +0.8 11.712.1 122.1 6.9 99.2 107.5116.8 1.9 4.6 84.9 0.9
Slide 7: FYE2024 1st Quarter Analysis of Operating Profit
FYE2024 1st Quarter Analysis of Operating Profit 【 Billion JPY 】 +10.0 +2.0 -9.5 +5.5 34.4 + 16.5 + 3.3 6.6 FYE2023 1Q Sales & Product FX Impact Materials/ Cost Structure Structural Fixed Expense FYE2024 1Q Mix etc. Improvement Results Logistics Cost Reforms etc. Results Sales & Product Mix etc. Bre
Slide 8: (Ref) FYE2024 Forecast Financial Summary
(Ref) FYE2024 Forecast Financial Summary (Disclosed on April 27) （ ）shows rate to Revenue % 【 Billion JPY 】 FYE2023 FYE2024 Change rate Change Results Forecast % Revenue 4,402.8 - 4,600.0 - +197.2 +4.5 Operating Profit 57.9 (1.3) 190.0 (4.1) +132.1 +227.9 Profit before income taxes 73.7 (1.7) 200.0
Slide 9: (Ref) FYE2024 Analysis of Operating Profit
(Ref) FYE2024 Analysis of Operating Profit (Disclosed on April 27) 【 Billion JPY 】 +10.0 +8.1 190.0 +50.0 +55.0 -16.0 +5.0 +20.0 57.9 One-time Costs FYE2023 (Expense for Sales & Product FX Impact Materials/ Cost Structure Structural Fixed FYE2024 Results Mix etc. Logistics Cost Improvement Reforms F
Slide 10: Business Progress
Business Progress For the Fiscal year Ended March 31, 2024 1st Quarter Financial Results/ 2023.7.28 / © AISIN CORPORATION All Rights Reserved. 2
Slide 11: Promote Business Portfolio Restructuring
Promote Business Portfolio Restructuring Discussions to be commenced regarding transfer of the shower toilet business to LIXIL Share Purchase Agreement of PT.SHIROKI INDONESIA to TOYOTA BOSHOKU ASIA (Transfer of manufacture automotive seat frame mechanism parts in a series of seat business restructu
Slide 12: Carbon Neutral Initiatives
Carbon Neutral Initiatives Evaluation of "resource recycling system" that separates, recovers, and utilizes CO2 commenced at Nishio Plant "Resource Recycling System" Flow Diagram With the aim of achieving carbon neutrality in production by 2035, AISIN has commenced the evaluation of its newly develo
Slide 13: Reference information
Reference information For the Fiscal year Ended March 31, 2024 1st Quarter Financial Results/ 2023.7.28 / © AISIN CORPORATION All Rights Reserved. 3
Slide 14: Revenue Details (FYE2024 1Q Results, FYE2024 Forecast)
Revenue Details（FYE2024 1Q Results・FYE2024 Forecast） （ ）shows composition ratio 【Billion JPY】 FYE2023 1Q FYE2024 1Q Change rate Change Results Results % Powertrain 575.4 (57.7) 671.0 (56.3) +95.6 +16.6 Chassis & Vehicle 200.9 (20.1) 239.0 (20.0) +38.1 +19.0 Mobility Safety systems Body 175.3 (17.6)
Slide 15: CAPEX / Depreciation / R&D
CAPEX / Depreciation / R&D 【Billion JPY】 FYE2023 1Q FYE2024 1Q FYE2023 FYE2024 By Business Results Results Results Forecast (Disclosed on April 27) Powertrain 18.6 10.8 96.8 109.0 Chassis & Vehicle 7.3 9.5 42.0 52.0 CAPEX Safety systems Body 6.6 5.7 37.3 37.0 CSS* & Others 4.9 9.7 45.3 50.0 Total 37
Slide 16: FYE2024 1Q Segment by Region
FYE2024 1Q Segment by Region 【Billion JPY】 FYE2023 1Q FYE2024 1Q Change Region Change Results Results FX Others Japan 495.9 590.8 +94.9 - +94.9 North America 187.2 237.4 +50.2 +13.3 +36.9 Revenue Europe 84.9 99.2 +14.3 +0.6 +13.7 China 122.1 147.4 +25.3 +0.0 +25.3 Asia & Others 107.5 116.8 +9.3 +4.8
Slide 17: FYE2024 Segment by Region (Disclosed on April 27)
FYE2024 Segment by Region (Disclosed on April 27) 【Billion JPY】 FYE2023 FYE2024 Change Region Change Results Forecast FX Others Japan 2,219.6 2,385.0 +165.4 - +165.4 North America 814.3 775.0 -39.3 -31.4 -7.9 Revenue Europe 343.8 345.0 +1.2 -1.6 +2.8 China 531.9 585.0 +53.1 -28.9 +82.0 Asia & Others
Slide 18: 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 】 4,600.0 205.8 218.6 210
Slide 19: Toyota production/Powertrain Unit Sales
Toyota production/Powertrain Unit Sales 【10,000 Unit】 Toyota production Volume Powertrain Unit Sales Volume Domestic Overseas （）Total sales of HEV, eAxle (after FYE2021） 953 888 (93) 926 916 904 (136) 893 895 (70) 816 567 643 618 526 326 290 273 276 FYE2020 Results FYE2021 Results FYE2022 Results FY
Slide 20: Half Yearly Performance
Half Yearly Performance Revenue （）Total sales of HEV, eAxle (after FYE2021） Revenue Powertrain Unit Sales 【Billion JPY】 【10,000 Unit】 531 （42） 469 484 462 （52） 464 446 458 （41） （59） （77） 2,000.0 357 （28） 1,913.7 2,069.8 2,052.7 2,106.6 2,296.2 1,000.0 1,870.8 1,864.7 1,455.9 0.0 1H 2H 1H 2H 1H 2H 1H
Slide 21: Quarterly Performance
Quarterly Performance Revenue Revenue Powertrain Unit Sales （）Total sales of HEV, eAxle (after FYE2021） 【Billion JPY】 【10,000 Unit】 274 258 265 1,800.0 （20） 243 227 238 245 233 236 236 220 （22） 229 228 （56） 226 220 222 （20） （21） （27） （25） （27） （32） （36） （41） （17） 1,200.0 137 （10） 997.8 1,104.5 1,191
Slide 22: 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
Slide 23: 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
Slide 24: 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