Daifuku Co., Ltd. · TSE:6383

Daifuku — FY2019 Earnings Presentation

22 slides from Daifuku's earnings presentation, May 12, 2020

  1. Slide 1: Consolidated Financial Results, Fiscal Year Ended March 31, 2020

    DAIFUKU Always an Edge Ahead Consolidated Financial Results Fiscal Year Ended March 31, 2020 (April 1, 2019 - March 31, 2020) May 12, 2020 DAIFUKU CO., LTD. Value Innovation 2020

  2. Slide 2: Fiscal 2019 Highlights

    Fiscal 2019 Highlights (April 1, 2019 - March 31, 2020) 1 Net sales Operating income Operating margin (Billion yen) 11.9% 9.9% 9.1% 8.9% 6.2% 7.2%  Sales and income reflected a 5.2% 5.6% 459.4 460.0 downturn in investments in the 443.6 404.9 semiconductor and flat-panel 336.1 display (FPD) sectors.

  3. Slide 3: FY2019 Consolidated Results

    FY2019 Consolidated Results 2 (Billion yen) FY2018 FY2019 Year-on-year  Orders reflected the impact from Orders 503.39 483.18 -4.0% a downturn in investments in the Net sales 459.48 443.69 -3.4% semiconductor and FPD sectors. Meanwhile, orders for systems for Operating income 54.68 40.49 -25.9% man

  4. Slide 4: Results by Reportable Segment

    Results by Reportable Segment 3 (Billion yen) Orders Net sales Segment income (Net income attributable to (Orders from outside customers) (Sales to outside customers) shareholders of the parent company)  Daifuku: FY2018 FY2019 FY2018 FY2019 FY2018 FY2019 A gain on sales of shares in affiliates was

  5. Slide 5: Consolidated Balance Sheets

    Consolidated Balance Sheets 4 (Billion yen) FY2018 FY2019 Change FY2018 FY2019 Change  Total assets: Increased by ¥0.9 billion Current assets 326.23 319.68 -6.55 Current liabilities 155.96 138.69 -17.26 [Factors] Cash on hand and 90.91 Notes and accounts Increases: ¥10.8 billion in notes and in ban

  6. Slide 6: Consolidated Statements of Cash Flows

    Consolidated Statements of Cash Flows 5 (Billion yen)  Cash provided by operating FY2018 FY2019 Change activities: ¥13.5 billion [Factors] Income before income taxes and Cash flows from operating activities 8.55 13.50 4.94 non-controlling interests: ¥39.8 billion Increase in advances received on Ca

  7. Slide 7: Consolidated Orders and Sales by Industry

    Consolidated Orders and Sales by Industry 6 (Billion yen) Orders Sales FY2018 FY2019 FY2018 FY2019 Industry Orders Composition Orders Composition Sales Composition Sales Composition Automobile, auto parts 68.75 13.7% 89.98 18.6% 68.67 14.9% 68.48 15.4% Electronics 171.33 34.0% 146.23 30.3% 189.98 41

  8. Slide 8: Orders by Region (Consolidated)

    Orders by Region (Consolidated) 7 (Billion yen) 70% 66% 65% 65% 17.1 21.8 Non-Japan ratio 10.9 to net orders 10.9 14.2 9.4 Other 11.0 182.2 152.1 Europe 207.3 7.2 Asia 127.7 North America 111.0 140.5 107.1 Japan 90.4 Ratio to net sales 145.3 174.0 170.0 120.0 FY2016 FY2017 FY2018 FY2019 Non-Japan To

  9. Slide 9: Orders by Region (Consolidated)

    Orders by Region (Consolidated) 8 (Billion yen) FY2016 FY2017 FY2018 FY2019 Region Orders Composition Orders Composition Orders Composition Orders Composition Japan 120.03 33.7% 145.37 29.8% 174.01 34.6% 170.04 35.2% Non-Japan 236.48 66.3% 342.59 70.2% 329.38 65.4% 313.14 64.8%  In North America, w

  10. Slide 10: Sales by Region (Consolidated)

    Sales by Region (Consolidated) 9 (Billion yen) 72% 67% 65% 65% Non-Japan ratio 15.2 16.2 to net sales 16.7 12.8 9.2 Other 9.6 Europe 17.9 204.6 163.4 8.5 150.5 Asia 107.0 North America 99.6 95.5 99.1 Japan 76.6 Ratio to net sales 132.4 127.6 155.0 110.6 FY2016 FY2017 FY2018 FY2019 Non-Japan Total 21

  11. Slide 11: Sales by Region (Consolidated)

    Sales by Region (Consolidated) 10 (Billion yen) FY2016 FY2017 FY2018 FY2019 Region Sales Composition Sales Composition Sales Composition Sales Composition Japan 110.67 34.5% 132.46 32.7% 127.60 27.8% 155.02 34.9%  In Japan, sales were strong mainly Non-Japan 210.14 65.5% 272.45 67.3% 331.88 72.2% 2

  12. Slide 12: Service Sales (Consolidated)

    Service Sales (Consolidated) 11 %: Ratio to net sales (Billion yen) 28% 25% 23% 25%  Service sales remained firm. 101.0 107.9 108.9 89.4 Note: Sales in the service business include FY2016 FY2017 FY2018 FY2019 maintenance, retrofitting, and remodeling work for products and systems Daifuku delivered.

  13. Slide 13: Quarterly Orders and Sales (Consolidated)

    Quarterly Orders and Sales (Consolidated) 12 (Billion yen) Orders Sales 148.5 145.0 140.6 129.1 128.8 123.7 120.8 119.9 109.4 112.7 113.4 113.8  The impact of COVID-19 on 103.1 118.1 128.7 100.4 124.8 orders and sales during the 85.0 108.0 104.8 112.5 110.0 83.2 99.0 100.4 fourth quarter was minor.

  14. Slide 14: Order Backlogs (Consolidated)

    Order Backlogs (Consolidated) 13 (Billion yen) 397.9 373.6 377.7 362.7 358.4 346.4 326.8 358.5 364.0 314.0 314.5  Order backlogs set a new 294.9 record high. 231.4 218.5 192.3 182.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY2016 FY2017 FY2018 FY2019 © 2020 Daifuku Co., Ltd.

  15. Slide 15: FY2020 Consolidated Forecast

    FY2020 Consolidated Forecast 14 (Billion yen) Year-on- Year-on- FY2019 H1 FY2020 H1 year FY2019 FY2020 year Orders 214.32 240.0 12.0% 483.18 480.0 -0.7％ Net sales 208.73 212.0 1.6% 443.69 460.0 3.7％  Forecasting increased sales and income. Operating income 17.28 16.3 -5.7% 40.49 41.0 1.2％ Ordinary

  16. Slide 16: Impact of COVID-19

    Impact of COVID-19 15  Emerging needs are expected, such as expanding e-commerce due to more people staying at home; rising demand for more efficient logistics operations; and growing demand for semiconductors underpinned by the spread of teleworking and 5G communications.  Shiga Works, our mainst

  17. Slide 17: Dividends

    Dividends 16 The annual dividend of 75 yen for FY2019 is expected to be retained for FY2020 Daifuku has decided to pay a FY2019 annual dividend of 75 yen, based on a dividend policy that targets a consolidated payout ratio of 30%. The FY2020 annual dividend is planned to be 75 yen. Interim Year-end

  18. Slide 18: Liabilities, Fixed Cost, Employees (Consolidated)

    Liabilities, Fixed Cost, Employees (Consolidated) 17 (Billion yen) Interest-bearing liabilities FY2016 FY2017 FY2018 FY2019 Short-term 21.6 19.9 19.4 11.7 Long-term 18.1 18.0 20.5 21.6  We retain a strong financial Total 39.7 37.9 40.0 33.4 position with a D/E ratio of D/E ratio* (times) 0.29 0.20

  19. Slide 19: Capital Investment, Depreciation, R&D Expenses (Consolidated)

    Capital Investment, Depreciation, R&D Expenses (Consolidated) 18  FY2019 investment included a headquarters  Depreciation has remained mostly at the relocation in Japan and a new production site same level. construction in North America. (Billion yen) (Billion yen) Capital investment R&D expenses

  20. Slide 20: Medium-Term Business Plan Financial Condition

    Medium-Term Business Plan Financial Condition 19 (Billion yen) Common stock Net assets D/E ratio ROE 19.5% 17.7% 237.3 222.8 12.6%  Net assets: 11.6% 191.4 9.6% 12.4% Favorable growth 8.6% 142.3  D/E ratio: 130.1 0.60 times Favorable level at below 0.2 0.56 times Public stock offerings  ROE: 99.6

  21. Slide 21: Factors for ROE

    Factors for ROE 20 FY2016 FY2017 FY2018 FY2019 ROE* 12.6% 17.7% 19.5% 12.4%  FY2019 ROE was lower than the previous fiscal year, as the 1) Return on sales 5.22% 7.16% 8.61% 6.32% return on sales declined. 2) Total asset turnover (times) 1.07 1.20 1.17 1.08 3) Financial leverage (times) 2.18 1.99 1.

  22. Slide 22: Cautionary Statement with Respect to Forward-Looking Statements

    Cautionary Statement with Respect to Forward-Looking Statements The strategies, beliefs and plans related to future business performance as described in this document are not established facts. They are business prospects based on the assumptions and beliefs of the management team judging from the m

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