Furuno Electric Co., Ltd. · TSE:6814
Furuno Electric — FY2023 Earnings Presentation
24 slides from Furuno Electric's earnings presentation, Apr 15, 2024
Slide 1: Financial Results Briefing Materials
Fiscal Year 2023 (Ended February 29, 2024) Financial Results Briefing Materials April 15, 2024 FURUNO ELECTRIC CO., LTD. Cautions: This document is a translation of the Japanese original, which is authoritative. The information listed in these materials regarding the Company’s forecasts are determin
Slide 2: Summary of Fiscal Year 2023
Summary of Fiscal Year 2023 ◆Net Sales: Increase ➢ Increase in sales in all regions for Marine business with continued increase in production to catch-up high backlog and normalize delivery dates ◆Operating Profit: Increase ➢ Gross profit increased with efforts to increase sales, improve production
Slide 3: Consolidated Income Statement
Consolidated Income Statement Increase in sales in all regions for Marine business Net sales and net profit have reached the highest-ever level Year-over-Year Year-over-Year (Unit: 100 Millions of Yen) Fiscal Year 2022 Fiscal Year 2023 (amount) (ratio) Net sales 91,325 114,850 +23,525 +25.8% Gross p
Slide 4: Analysis of Increase/Decrease in Net Sales
Analysis of Increase/Decrease in Net Sales Increase in sales in all regions for Marine business mainly in merchant vessels Increase in sales for Industrial Business in Defense Equipment 1,300 Foreign (Unit: 100 Millions of Yen) Industrial 1,250 Exchange Business Other Impact 1,200 regions +17.1 +44.
Slide 5: Analysis of Increase/Decrease in Gross Profit
Analysis of Increase/Decrease in Gross Profit Increase in gross profit with increase in sales for Marine business and components cost increase compensated by improved profitability Industrial (Unit: 100 Millions of Yen) 480 Business Foreign Sales Price Exchange Increase Management, Impact Improved +
Slide 6: Analysis of Increase/Decrease in Operating Profit
Analysis of Increase/Decrease in Operating Profit Significant Increase in profit with higher gross profit in Marine business, despite increase in SG&A expenses with strengthening of sales and service structure 150 Marine Business (Unit: 100 Millions of Yen) 140 Industrial Business Gross Profit 130 I
Slide 7: Overview of Marine Business
Overview of Marine Business “100M” stands for 100 Million Marine Business Consolidated Sales Marine Business (by Region) (Unit: 100 Millions of Yen) Net Sales 982 100M yen (+29.6% year-over-year) Segment Profit 71.0 100M yen (+58.5 100M yen) 日本 米州 欧州 アジア その他 ⚫ Increase in production to catch-up high
Slide 8: Overview of Industrial Business
Overview of Industrial Business “100M” stands for 100 Million Industrial Business Consolidated Sales Industrial Business (by Product) (Unit: 100 Millions of Yen) Net Sales 128 100M yen (+15.4% year-over-year) Segment Profit +2.4 100M yen (+1.2 100M yen) ■OEM, ETC, etc. ■Healthcare 180 ⚫ Increase in
Slide 9: Appendix: Consolidated Balance Sheet
Appendix: Consolidated Balance Sheet (Unit: Millions of yen) Fiscal year 2022 Fiscal year 2023 Current assets 82,280 86,285 (Cash and deposits) (15,376) (11,786) (Inventories) (40,694) (46,088) Fixed assets 24,116 28,085 (Tangible fixed assets) (13,914) (14,751) (Intangible fixed assets) (4,034) (4,
Slide 10: Forecast for Fiscal Year 2024
Forecast for Fiscal Year 2024 Continued high demand/ Sales maintained at 110B yen Increase in SG&A expenses with increase in personal expenses Significant increase in corporate income tax adjustment with tax effect accounting (first half, 1.5- 2.0B yen) Year-over- Year-over-Year (Unit: Millions of y
Slide 11: Dividend of Retained Earnings: Forecast for FY 2024
Dividend of Retained Earnings: Forecast for FY 2024 Dividend Forecast based on 30% Payout Ratio policy (Unit: Yen) 2nd Quarter End of Term Full Year Payout ratio FY 2022 10 15 25 58.5% FY 2023 20 40 60 30.4% FY 2024 Forecast 10 25 35 31.6% FURUNO ELECTRIC CO., LTD. All Rights Reserved. 11
Slide 12: Forecast: Marine Business
Forecast: Marine Business “100M” stands for 100 Million Marine Business Consolidated Sales (by Region) Marine Business (Unit: 100 Millions of Yen) Net Sales 913 100M 日本 米州 欧州 アジア その他 Segment Profit 50.0 100M yen 1,000 Move to FY2023 69 ⚫ Increase in sales in FY2023 due to the due to the lack 900 of
Slide 13: Forecast: Industrial Business
Forecast: Industrial Business “100M” stands for 100 Million Industrial Business Consolidated Sales (by Product) Industrial Business (Unit: 100 Millions of Yen) Net Sales 147 100M yen ■ITS, GNSS ■Healthcare Segment Profit 3.0 100M yen 220 ■Defense Equipment ■Wireless LAN Systems 200 ◆ITS, GNSS: Net s
Slide 14: Topics
Topics FURUNO ELECTRIC CO., LTD. All Rights Reserved. 14
Slide 15: HermAce approved by LiMA for remote VDR APT
Topics FURUNO has received approval from LiMA to use HermAce as a tool for remote VDR APT HermAce which was developed by FURUNO uses a Digital Twin (a virtual replica) of bridge equipment based on data streamed directly from the vessel that offers live identification and diagnosis of problems. Each
Slide 16: New application for AI fish weight estimation system
Topics New application for AI fish weight estimation system We have developed new application “Aqua Scope” which integrates and displays necessary data to support fish farming operations. AI fish weight estimation system can grasp the growth of fish by data from AI fish weight estimation camera “UC-
Slide 17: "Sea to the future" project
Topics ”Sea to the future” project FURUNO communicates attractive and problem of sea with children as the company which has been growing in marine market for a long time. Talk show and workshop SupoGOMI world cup in Hyogo Job experience program We communicates attractive of sea Our two teams joined
Slide 18: Certified as a Health and Productivity Management Organization (White 500)
Topics Certified for 6 consecutive years as a “Health and Productivity Management Organization (White 500)” The "Excellent Corporation for Health Management System" is a system to recognize large corporations, small and medium-sized companies, and other corporations that practice particularly excell
Slide 19: Advertisement on trains and stations in Hanshin Railway
Topics Advertisement on trains and stations in Hanshin Railway Our corporate advertisement series “We Want You to Know FURUNO” to promote our attractiveness and familiarity The advertisements including new version are displayed on media in the Hanshin Railway facilities which connect Hyogo and Osaka
Slide 20: Appendix: FURUNO's Business Outline
Appendix: FURUNO’s Business Outline FURUNO ELECTRIC CO., LTD. All Rights Reserved. 20
Slide 21: Appendix: Corporate Outline
Appendix: Corporate Outline Since commercializing the world's first Fish Finder in 1948, FURUNO has supplied many types of products for the marine electronics market. By using its exclusive knowledge of ultrasonic and electronics technologies, FURUNO has developed a wide array of products that have
Slide 22: Appendix: FURUNO's Business Fields
Appendix: FURUNO’s Business Fields Automatic GPS/GNSS Identification Disciplined GPS/GNSS System (AIS) Oscillator Displacement Continuous Remote Monitoring Satellite System Communications Meteorological Equipment Monitoring and Analyzing System Wireless LAN Radar Access Point Voyage Data GPS/GNSS Re
Slide 23: Appendix: FURUNO's Marine Business
Appendix: FURUNO’s Marine Business For Merchant Vessels ECDIS (Electronic Chart Display Satellite Communications Radar and Information System) Equipment For Fishing Vessels Sonar Fish Finder Current Indicator Radiotelephone For Pleasure Boats GPS/WAAS Radar Multi-Function Display Chart Plotter Autop
Slide 24: Appendix: FURUNO's Industrial Business
Appendix: FURUNO’s Industrial Business ITS, GNSS ETC2.0 / ETC * ETC, Vehicle GPS / GNSS Management Solution* Chips & Modules Healthcare Clinical Chemistry Analyzer & Reagent Ultrasound Bone Densitometer Wireless LAN Systems Wireless LAN Access Point* Wireless Handheld Terminal* FURUNO ELECTRIC CO.,