Toyota Boshoku Corp. · TSE:3116
Toyota Boshoku — H1 FY2021 Earnings Presentation
29 slides from Toyota Boshoku's earnings presentation, Oct 29, 2020
Slide 1: FY2021 1st Half Financial Results
TSE 1st Section Securities Code 3116 FY2021 (ending March 2021) 1st Half Financial Results Date: October 29, 2020
Slide 2: Financial Results
Financial Results 1. 2nd Quarter FY2021 Financial Results 2. FY2021 Financial Forecasts 3. Appendix
Slide 3: 1. 2nd Quarter FY2021 Financial Results
Financial Results 1. 2nd Quarter FY2021 Financial Results 2. FY2021 Financial Forecasts 3. Appendix
Slide 4: Overview of Consolidated Financial Results
1-1) 2nd Quarter FY2021 Financial Results Overview of Consolidated Financial Results (100 million yen) Q2 FY2020 Q2 FY2021 YOY Change Revenue 7,147 100.0% 5,454 100.0% △1,693 △23.7% Operating Profit 265 3.7% 36 0.7% △228 △86.4% Profit before income taxes 271 3.8% 31 0.6% △239 △88.3% Profit* 126 1.8%
Slide 5: Seat Production by Region
1-2) 2nd Quarter FY2021 Financial Results Seat Production by Region Total By Region （10,000 Units） （10,000 Units） YOY Change △92 2Q 2Q Pct Change FY20 FY21 △23.4% 394 302 △44 △25.9% △13 △21 △10.9% 169 △31.9% △15 125 118 △35.5% 105 65 45 41 27 2Q FY20 The Asia & 2Q FY21 Japan Europe& Americas Oceania
Slide 6: Consolidated Revenue & Operating Profit
1-3) 2nd Quarter FY2021 Financial Results Consolidated Revenue & Operating Profit Profit secured even including covid-19 impact, or profit increased excluding it since profit securing measures such as improving overhead costs efficiency and cost reduction efforts were implemented Volume & Model Mix
Slide 7: Japan Revenue & Operating Profit
1-3) 2nd Quarter FY2021 Financial Results Japan Revenue & Operating Profit Profit decreased due to lower volume amid Covid-19 outbreak and labor costs borne to maintain employment despite increased efficiency in overhead cost by reviewing work-styles such as reduced working hours and expenses Volume
Slide 8: The Americas Revenue & Operating Profit
1-3) 2nd Quarter FY2021 Financial Results The Americas Revenue & Operating Profit Profit increased without Covid-19 impact because of improved overhead costs efficiency and cost reduction efforts as well as new product effects Volume & Model Mix Operating Profit Variance (100 million yen) 653 (1,000
Slide 9: Asia & Oceania Revenue & Operating Profit
1-3) 2nd Quarter FY2021 Financial Results Asia & Oceania Revenue & Operating Profit Profit decreased due to volume decline in ASEAN countries amid covid-19 outbreak despite volume increase in China and improved overhead costs efficiency Volume & Model Mix Operating Profit Variance Analysis (100 mill
Slide 10: Europe & Africa Revenue & Operating Profit
1-3) 2nd Quarter FY2021 Financial Results Europe & Africa Revenue & Operating Profit Deficits reduced because of loss from fund leakage incident from last year and foreign exchange impact despite negative factors such as volume decline amid Covid-19 outbreak (100 million yen) Volume & Model Mix Oper
Slide 11: 2. FY2021 Financial Forecasts
Financial Results 1. 2nd Quarter FY2021 Financial Results 2. FY2021 Financial Forecasts 3. Appendix
Slide 12: Overview of Consolidated Financial Forecasts
2-1) FY2021 Financial Forecasts Overview of Consolidated Financial Forecasts （100 million yen） FY20 Forecasts FY20 Actual FY20 Forecasts YOY Change (1Q Announced) Revenue 13,726 100.0% 12,400 100.0% △1,326 △9.7% 11,400 100.0% Operating Profit 477 3.5% 360 2.9% △117 △24.7% 130 1.1% Profit before inco
Slide 13: Seat Assembly Production by Region
2-2) FY2021 Financial Forecasts Seat Assembly Production by Region Total By Region （10,000 Units） （10,000 Units） △60 △7.9% YOY Change 753 FY20 FY21 Pct Change 694 △38 △11.7% △1 △0.1% 327 △11 △10 289 △8.9% △12.6% 223 222 122111 82 72 FY20 FY21 The Asia & Europe& Japan Africa Americas Oceania 9
Slide 14: Consolidated Revenue & Operating Profit Forecast
2-3) FY2021 Financial Forecasts Consolidated Revenue & Operating Profit Operating loss to be reduced by increased overhead cost efficiency and cost reduction efforts throughout the entire company under the circumstances of lower volume amid Covid-19 outbreak Volume & Model Mix Operating Profit Varia
Slide 15: Comparison with the Forecast published for 1Q
2-3) FY2021 Financial Forecasts Comparison with the Forecast published for 1Q Volume & Model Mix Operating Profit Variance Analysis (100 million yen) +427 (1,000 units) 1Q 2Q ･ recovery in 6,937 Difference ＜+6.6%＞ Published Published 6,511 demand and FY20 +78 477 477 － decreased labor 2,625 2,703 Co
Slide 16: Forecasts by Half Year
2-4) FY2021 Financial Forecasts by Half Year Revenue (100 million yen) FY2021 1st Half (Results) 2nd Half Full Year Japan 3,043 3,807 6,850 The Americas 989 1,560 2,550 Asia & Oceania 1,449 1,549 3,000 Europe & Africa 319 481 800 Consolidated Total 5,454 6,946 12,400 Operating Profit (100 million ye
Slide 17: Revenue & Operating Profit by Region: Japan, The Americas
2-5) FY2021 Financial Forecasts Revenue & Operating Profit by Region Japan The Americas Lower profit due to Covid-19 impact, Higher profit because of improvement in cost despite profit securing measures including efficiency and temporally elimination of cost reduction and improvement in cost ineffic
Slide 18: Revenue & Operating Profit by Region: Asia & Oceania, Europe & Africa
2-5) FY2021 Financial Forecasts Revenue & Operating Profit by Region Asia & Oceania Europe & Africa Lower Profit due to volume decline amid Profit is about to be the same level as the Covid-19 in ASEAN countries despite previous year due to the loss from fund volume increase in China leakage inciden
Slide 19: Returning to Shareholders
2-6) FY2021 Financial Forecasts Returning to Shareholders Interim dividends payout plan is ¥10, which is determined based on comprehensive evaluation to stabilize management and employment We keep long-term sustainable dividends since increased profits associated with demand recovery are expecte
Slide 20: Concluding
2-7) Concluding 2nd Quarter FY2021 Financial Results 【2Q Results】 Profit ensured by implementing Profit Securing Measures including improved cost efficiency and cost reduction 【Annual Forecast】 Further improvement in profitability by promoting profit improvement activities (stop･reduce･change, worki
Slide 21: Disclaimer
<Disclaimer> This report contains forecasts and expectations that relate to future plans and strategies in addition to the expected financial results of the Toyota Boshoku Corporation and the Toyota Boshoku group. Within are estimates based on assumptions and opinions that have been formed by the co
Slide 22: 3. Appendix
Financial Results 1. 2nd Quarter FY2021 Financial Results 2. FY2021 Financial Forecasts 3. Appendix
Slide 23: Status of the Consolidated Statement of Financial Position
Appendix1）Status of the Consolidated Statement of Financial Position (Sep.30, 2020) :Compared to the previous Current assets year(100 million yen) 457.5billion yen ↓ Liabilities 459.0billion yen 467.3 billion yen ↓ ・ Increase in operating +98 +237 482.7billion receivables due to ・ funding to deal wi
Slide 24: Consolidated Cash Flows
Appendix2）Consolidated Cash Flows Cash flows from operating activities: (100 million yen) △28.1 billion yen year-on-year Free cash flows: △35.0 billion yen year-on-year 355 Major factors 164 ・Decrease in cash due to lower income ・Expenses for acquisition of property, 73 plant and equipment etc. FY20
Slide 25: Quarterly Trends: Consolidated
Appendix3) Quarterly Trends: Consolidated volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue JGAAP ◀ ▶ IFRS Revenue Seat Assembly Production (10,000 Units) (100 million yen) 8,000 191 195 201 193 190 220 183 183 188 186 181 183 183 169 119 3,665 3,444 3,418
Slide 26: Quarterly Trends: Japan
Appendix4) Quarterly Trends: Japan volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (100 million yen) (10,000 Units) 4,000 90 100 83 85 84 81 79 79 79 75 76 73 73 76 1,981 2,086 1,840 1,984 2,003 2,063 1,904 2,076 1,846 1,856 50 1,713 1,773 1,813 2,000 50
Slide 27: Quarterly Trends: The Americas
Appendix5) Quarterly Trends: The Americas volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 Units) 2,000 (100 million yen) 50 34 32 30 29 30 31 28 29 28 27 29 27 27 1,000 25 750 691 702 715 723 724 727 709 630 664 651 653 624 12 279 0 0 1Q 2Q 3Q 4Q
Slide 28: Quarterly Trends: Asia & Oceania
Appendix6）Quarterly Trends: Asia & Oceania volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 Units) 2,000 (100 million yen) 80 61 62 59 62 58 56 59 58 54 55 55 52 47 42 892 851 908 929 892 874 928 1,000 828 840 829 840 787 40 642 661 0 0 1Q 2Q 3Q 4Q
Slide 29: Quarterly Trends: Europe & Africa
Appendix7) Quarterly Trends: Europe & Africa volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 Units) 1,000 40 (100 million yen) 23 23 23 23 24 22 21 22 21 20 19 20 500 17 20 243 282 259 250 271 10 225 242 229 232 235 222 210 194 108 0 0 1Q 2Q 3Q 4Q