Aisin Corporation · TSE:7259
Aisin — AISIN SEIKI — FY2019 Earnings Presentation
25 slides from Aisin's earnings presentation, Apr 26, 2019
Slide 1: FY2019 Consolidated Financial Results
FY2019 Consolidated Financial Results April 26th, 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 guarantee the
Slide 2: Contents
Contents 1.Consolidated Financial Results(FY2019) P.2-8 2.Consolidated Financial Forecast(FY2020) P.9-13 3.Reference Information P.14-24 1/24
Slide 3: 1. Consolidated Financial Results (FY2019)
1.Consolidated Financial Results (FY2019) 2/24
Slide 4: FY2019 Overview of Financial Results
FY2019 Overview of Financial Results 1 Revenue for FY2019 reached 4,043.1 billion yen, which is the highest ever before, due to favorable AT, Brake and Body parts sales. 2 Operating profit for FY2019 decreased due to the increase of fixed cost such as depreciation cost and R&D cost by advanced inves
Slide 5: Consolidated Financial Results (FY2019) Pre-conditions
Consolidated Financial Results (FY2019) FY2018 FY2019 Change FY2019 (Billion yen) Rate to Rate to Forecast Rate to Results Revenue% Results Revenue% Amount % Revenue % in Feb Revenue 3,908.9 - 4,043.1 - +134.2 +3.4 3,980.0 - Operating Profit 253.8 6.5 205.5 5.1 -48.3 -19.0 210.0 5.3 Profit before in
Slide 6: Sales by Customer (FY2019)
Sales by Customer(FY2019) FY2018 Revenue Other Auto Makers sales breakdown Life & others (Billion yen) (Billion yen) Chinese OEMs Total 122.5 230.1⇒258.7(+28.6) 1,800 (3.1%) +79.7 1,599.0 Other 1,600 Toyota 1,519.3 Auto Makers 3,908.9 1,519.3 Group 1,400 403.5 Others +27.0 (38.9%) 2,267.1 376.5 (58.
Slide 7: Segment Information (FY2019)
Segment Information (FY2019) +4 Revenue (+134.2) Operating Profit (-48.3) (Billion yen) +75.6 FY2018 FY2019 (Billion yen) -46.9 FY2018 FY2019 FX Other FX Other 2,500 Impact factors 169.8 Impact factors 2,376.3 2,300.7 Japan - +75.6 Japan -0.5 -46.4 155 North America +0.2 +12.2 North America ±0.0 -5.
Slide 8: Fluctuations for Operating Profit (FY2019)
Fluctuations for Operating Profit (FY2019) FY2018 / FY2019 (Billion yen) -3.9 +33.5 -13.0 -1.5 material price -19.2 Change of Depreciation 253.8 improvement Cost structure R&D cost -43.7 Sales fluctuation -0.5 Operating Profit & others Fixed cost 206.0 205.5 FX impact factors) (Except non-ordinary O
Slide 9: Fluctuations for Operating Profit (FY2019 Forecast vs Result)
Fluctuations for Operating Profit (FY2019) FY2019(Feb 1st Forecast) / FY2019(Result) (Billion yen) -2.5 +3.6 -2.1 +7.5 Depreciation -15.4 R&D cost improvement Cost structure 210.0 +4.4 Sales fluctuation 205.5 Operating Profit （ & others Fixed cost Forecast in Feb 201.1 FX impact Operating Profit fac
Slide 10: 2. Consolidated Financial Forecast (FY2020)
2.Consolidated Financial Forecast (FY2020) 9/24
Slide 11: Consolidated Financial Forecast (FY2020) Pre-conditions
Consolidated Financial Forecast (FY2020) FY2019 FY2020 Change (Billion yen) Rate to Rate to Results Revenue % Forecast Revenue % Amount % Revenue 4,043.1 - 4,040.0 - -3.1 -0.1 Operating Profit 205.5 5.1 180.0 4.5 -25.5 -12.4 Profit before income taxes 217.4 5.4 189.0 4.7 -28.4 -13.1 Profit for the p
Slide 12: Forecast of Sales by Customer (FY2020)
Forecast of Sales by Customer(FY2020) FY2019 Revenue Other Auto Makers sales breakdown Life & others Chinese OEMs Total (Billion yen) (Billion yen) 127.2 258.7 ⇒229.8(-28.9) 1,800 (3.1%) 1,599.0 -15.0 1,584.0 Other Toyota 1,600 Auto Makers Group 4,043.1 2,316.8 325.6 286.8 Others -38.8 1,599.0 1,400
Slide 13: Forecast of Segment Information (FY2020)
Forecast of Segment Information(FY2020) Revenue (-3.1) Operating Profit (- 25.5) (Billion yen) -94.3 FY2019 FY2020 (Billion yen) FY2019 FY2020 2,500 2,376.3 FX Other FX Other 2,282.0 Impact factors Impact factors Japan - -94.3 Japan -2.2 -15.2 2,000 North America -4.7 +17.3 North America ±0.0 +10.2
Slide 14: Forecast of Fluctuations for Operating Profit (FY2020)
Forecast of Fluctuations for Operating Profit(FY2020) FY2019 / FY2020 (Billion yen) 205.5 +4.0 -3.5 material price Change of Structural reforms Operating Profit -21.6 -44.0 +36.0 -2.4 +10.9 182.4 180.0 FX impact -4.9 Depreciation non-ordinary factors) (Except Operating Profit Fixed cost & others R&D
Slide 15: 3. Reference Information
3.Reference information 14/24
Slide 16: 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 350.0 * AW-G of 32.9 FY2020(Forecast) amount includes 40.4 AISIN AI Group by 260.3 integration. 237.4 248.0 144.9 213.4 226.4 (5.
Slide 17: Toyota car production
Toyota car production Toyota Domestic Toyota Oversea Toyota global production production production (10,000 Unit) 4Q 3Q 909 892 906 912 2Q 1Q 225 220 226 220 596 578 591 592 144 137 136 141 227 234 226 232 320 151 151 155 153 313 314 315 231 223 222 233 81 83 90 79 73 148 147 149 149 76 81 79 83 76
Slide 18: Sales Number
Sales Number Yearly AT sales MT sales (10,000 Unit) (10,000 Unit) 983 999 1,020 1,000 869 200 165 164 800 258 247 151 234 150 39 40 135 246 33 600 258 224 100 45 48 36 400 246 207 234 39 34 39 200 50 204 233 260 42 42 43 0 0 FY2017 FY2018 FY2019 FY2020 FY2017 FY2018 FY2019 FY2020 (Forecast) (Forecas
Slide 19: Foreign Currency Exchange Rate
Foreign Currency Exchange Rate Foreign Exchange Rate (yen) 145 130 129 119 125 120 95 111 111 110 EUR 109 USD 70 25.0 16.1 16.8 CNY 20.0 16.5 16.4 THB 15.0 10.0 3.4 5.0 3.1 3.4 3.5 0.0 FY2017 FY2018 FY2019 FY2020 (Forecast) Impacts on Forex Impact on Operating Operating Profit profit per 1(or 0.1) y
Slide 20: Financial Results of the Main Consolidated Companies I
Financial Results of the Main Consolidated Companies Ⅰ AISIN SEIKI Group (Billion yen) 4.9% ◆ 4.4% 3.8% (Billion yen) ◆ ◆ 3.2% 150 ◆ 2,000 1,641.9 1,776.2 1,782.6 1,750.0 120 1,500 80.5 78.0 90 67.0 1,000 56.5 60 500 30 0 0 FY2017 FY2018 FY2019 FY2020(Forecast) AISIN AW Group (Billion yen) 8.6% 8.8%
Slide 21: 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% ◆ 4.1% ◆ ◆ 30 400 320.7 317.1 300 273.0 295.7 20 200 12.3 13.5 13.1 11.9 10 100 0 0 FY2017 FY2018 FY2019 FY2020(Forecast) AISIN AI Group (Billion yen) (Billion yen) 12 200 5.3% 166
Slide 22: Financial Results of the Main Consolidated Companies III
Financial Results of the Main Consolidated Companies Ⅲ ADVICS Group 3.7% ◆ (Billion yen) (Billion yen) 2.0% 1.1% 1.7% 800 ◆ ◆ ◆ 30 555.4 586.5 600.4 599.3 21.9 600 20 400 10.1 11.8 10 200 6.1 0 0 FY2017 FY2018 FY2019 FY2020(Forecast) AISIN AW Group (after integration with AISIN AI Group) 8.6% 8.1% ◆
Slide 23: Quarterly Performance
Quarterly Performance Revenue (10,000 Unit) (Billion yen) 1,800 232 226 231 227 225 232 220 224 222 234 250 220 220 215 217 223 226 200 1,200 1,023.5 1,030.21,007.9 1,018.9 1,029.7 907.5 957.5 917.0 938.0 986.5 771.2 792.2 843.5 838.9 838.6 858.8 150 600 100 50 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4
Slide 24: Half Yearly Performance
Half Yearly Performance Revenue (10,000 Unit) (Billion yen) 3,000 451 457 452 440 452 446 460 436 480 2,400 2,053.8 1,994.4 2,048.6 360 1,697.5 1,865.0 1,855.1 1,800 1,563.4 1,682.5 240 1,200 600 120 0 0 1st H 2nd H 1st H 2nd H 1st H 2nd H 1st H 2nd H FY2016 FY2017 FY2018 FY2019 Operating Profit (Bi
Slide 25: 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 90 Total 95 100 125 150 150 150 Dividend Payout Ratio 34.7% 28.2% 28.1% 30.6% 36.7% 43