Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.
February 10, 2022 Daido Metal Co., Ltd.
FY2021 Third Quarter Consolidated Financial Results Highlights
1．Overview | (Unit: JPY Million) |
≪Causes of Fluctuation in Operating profit≫ | (Unit: JPYBillion) |
3rd Quarter (YTD) | |
Financial Results | |
Net sales | |
Operating profit | |
(Operating margin) | |
Ordinary profit | |
(Ordinary income margin) | |
Profit attributable to owners of parent | |
(Net profit margin) | |
Return on Equity (ROE) | *1 |
Net assets to total assets | |
Net interest bearing debt | |
Capital Expenditure | |
Depreciation | |
R&D expenses | |
Number of consolidated subsidiaries | |
Exchange rate (USD) | |
Exchange rate (EUR) | |
*1 | Annualized |
Actual | Year-on-year comparison | Forecast | ||
2020/12 | 2021/12 | Amount | 2022/3 | |
% | ||||
59,160 | 76,073 | 16,913 | 100,000 | |
28.6% | ||||
-1,608 | 4,079 | 5,688 | ― | 4,900 |
(-2.7%) | (5.4%) | ― | ― | (4.9%) |
-2,064 | 3,950 | 6,014 | ― | 4,850 |
(-3.5%) | (5.2%) | ― | ― | (4.9%) |
-2,282 | 1,941 | 4,224 | ― | 2,200 |
(-3.9%) | (2.6%) | ― | ― | (2.2%) |
-5.6% | 4.5% | 10.1% | ― | ― |
33.3% | 36.1% | 2.8% | ― | ― |
41,847 | 34,547 | - 7,300 | - 17.4% | ― |
5,943 | 5,160 | - 782 | - 13.2% | 6,700 |
6,381 | 6,812 | 431 | 6.8% | 9,400 |
1,491 | 1,429 | - 62 | - 4.2% | 2,000 |
33 | 33 | 0 | ― | ― |
105.80 | 111.92 | Exchange rate is TTM rate | 115.02 | |
124.17 | 129.86 | as of September 30. | 130.51 |
≪Dividend/ Dividend Payout Ratio≫ | (Unit: JPY) | ||||
2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | |
Interim | 15 | 15 | 20 (*1) | 10 | 10 |
Year-end | 15 | 15 | 15 | 10 | 15 (*2) |
Annual | 30 | 30 | 35 | 20 | 25 (*2) |
Dividend | |||||
Payout | 33.3% | 32.0% | 60.1% | 888.7% 53.1% (*2) | |
Ratio |
（＊1） The interim dividend for FY2019 : Regular dividend (15 yen) + Commemorative dividend (5 yen)
（＊2） Forecast
2．Consolidated Financial Results/Capital Expenditure and Depreciation
(Unit: JPYBillion) | (Unit: JPYBillion) | (Unit: JPYBillion) | (Unit: JPYBillion) |
Net sales | Operating profit/Operating margin | Ordinary profit/Ordinary income margin | |||||||||||||
106.6 | 107.7 | Operating profit | Ordinary profit | ||||||||||||
100.1 | 100.0 | 6.2% | 6.7% | Operating margin | Ordinary income margin | ||||||||||
4.9% | 6.4% | 6.2% | |||||||||||||
84.7 | 7.2 | 4.2% | 3.7% | 4.9% | |||||||||||
6.6 | 6.8 | 6.6 | |||||||||||||
1.6% | 4.9 | 1.0% | 4.8 | ||||||||||||
4.1 | |||||||||||||||
3.6 | |||||||||||||||
76.0 | |||||||||||||||
1.3 | 4.0 | 0.8 | 3.9 | ||||||||||||
2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | 2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | 2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | |
Forecast | Forecast | - 1 - | Forecast | ||||||||||||
Capital Expenditure/Depreciation | ||||||
10.8 | 9.4 | |||||
8.6 | 8.7 | 8.5 | 9.5 | 8.1 | 8.7 | |
7.2 | 6.7 | |||||
5.1 | 6.8 | |||||
Capital Expenditure | Depreciation | Capital Expenditure | Depreciation | Capital Expenditure | Depreciation | Capital Expenditure | Depreciation | Capital Expenditure | Depreciation |
2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 |
Forecast
3．Sales and Operating profit by Segment
February 10, 2022 Daido Metal Co., Ltd.
(Before elimination of inter-segment transactions)
Net sales | Operating Profit or loss | ||||||||||||
(Unit: JPYBillion) | Net sales | Operating profit or loss | (Unit: JPYBillion) | ||||||||||
42.7 | |||||||||||||
6.4 | 7 | ||||||||||||
38 | |||||||||||||
33.0 | 6 | ||||||||||||
28 | 5 | ||||||||||||
[Sales] | ||
Net sales ratio | Year-on-year | |
comparison | ||
Segment | ||
Amount | ||
2021/12 | ||
(%) | ||
Automotive | 55.0% | 9,711 |
engine bearings | (29.4%) | |
(+)Gains | (-)Losses (Unit: JPY Million) | [Operating profit] (+)Gains | (-)Losses (Unit: JPY Million) | |
Year-on-year | ||||
Causes of Gains and Losses | comparison | Causes of Gains and Losses | ||
Amount | ||||
(%) |
① (+) Japan: Orders increase due to the new business development.
②(+) | Japan: Orders increase of export truck market for Southeast Asia, etc.,due to | 4,272 | |
recovery from COVID-19. | (+) As sales increased on the left. | ||
(192.4%) | |||
③(+) | Orders increase due to in globally strong demand recovery from COVID-19. | ||
④(+) | Orders increase due to strong demand recovery for turbocharger bearings. |
4 | ||||||||||||||||||||||||||||||||||||||||||
18 | 2.2 | 15.1 2.5 | 3 | |||||||||||||||||||||||||||||||||||||||
10.8 | 7.5 | 1.2 | 8.1 | 1.1 | 7.2 | 10.1 | 2 | |||||||||||||||||||||||||||||||||||
8 | 1.0 | 1.5 0.26 | 1.5 0.25 | 1 | ||||||||||||||||||||||||||||||||||||||
-2 | 0 | |||||||||||||||||||||||||||||||||||||||||
-1 | ||||||||||||||||||||||||||||||||||||||||||
-1.0 | ||||||||||||||||||||||||||||||||||||||||||
-12 | -1.5 | -2 | ||||||||||||||||||||||||||||||||||||||||
2020/12 | 2021/12 | 2020/12 | 2021/12 | 2020/12 | 2021/12 | 2020/12 | 2021/12 | 2020/12 | 2021/12 | |||||||||||||||||||||||||||||||||
Non-automotive | ||||||||||||||||||||||||||||||||||||||||||
Automotive | Automotive | Other automotiveparts | Others * | |||||||||||||||||||||||||||||||||||||||
enginebearings | non-enginebearings | bearings | ||||||||||||||||||||||||||||||||||||||||
* "Others"includeselectrodesheetsforelectricdoublelayer capacitors,themetallicdrybearingsbusiness, pump-relatedproductsbusinesses, andreal estate leasingbusiness.
4．Sales and Operating profit by Region
Automotive | 19.4% | 4,251 |
non-engine bearings | (39.2%) | |
Non-automotive | 10.5% | 626 |
bearings | (8.3%) | |
Other automotive | 13.1% | 2,899 |
parts | (39.8%) | |
⑤(+) Orders increase due to recovery in global automotive production from COVID- 19.
⑥(+) Ships: Increase orders for the development of new customers in China, despite
of decline in overall demand in the marine industry.
⑦(+) Construction machinery etc.: Orders increased due to recovery in demand
for service parts of construction machinery, and generators.
⑧(-)Energy sector : Orders decreased for gas and steam turbine bearings, despite of increasing assembly bearing for Hydraulic power generation by winning over new customers.
⑨(+) Formed pipes, Knock pins, NC milled parts, etc.: Orders increase due to
strong demand recovery from COVID-19 in Japan, China and North America.
⑩(+) Aluminum die cast products : Orders increase due to demand recovery in Thailand from COVID-19 in Automotive Industry and new entrants for electric vehicles.
1,491 | (+) As sales increased on the left. |
(140.9%) | |
- 63 (+) As sales increased on the left.
(-5.1%)(-) As sales decreased on the left.
⑪(+) Formed pipes, Knock pins, NC milled | |
parts, etc.: Impact of profit improvement by recovery | |
from COVID-19, and productivity improvement and | |
520 | rationalization efforts. |
(33.5%) | ⑫(+) Aluminum die cast products : Impact of |
increased due to recovery from COVID-19 in Thailand | |
and profit improvement due to efforts to reduce labor | |
costs, etc. |
(Before elimination of internal transactions)
Net sales | Operating Profit or loss | ||||||||||||||||||||||||||||||||
55.7 | |||||||||||||||||||||||||||||||||
(Unit: JPYBillion) | Net sales | Operating profit or loss | (Unit: JPYBillion) | ||||||||||||||||||||||||||||||
3.1 | |||||||||||||||||||||||||||||||||
50 | 42.4 | 3.0 | |||||||||||||||||||||||||||||||
40 | |||||||||||||||||||||||||||||||||
30 | 23.0 | 2.0 | |||||||||||||||||||||||||||||||
20 | 16.7 | ||||||||||||||||||||||||||||||||
10 | 0.71 | 7.2 | 9.7 0.60 | 6.8 | 8.8 | 1.0 | |||||||||||||||||||||||||||
0 | 0.0 | ||||||||||||||||||||||||||||||||
- 0.05 | |||||||||||||||||||||||||||||||||
-0.21 | |||||||||||||||||||||||||||||||||
-10 | -0.35 | -0.22 | |||||||||||||||||||||||||||||||
-1.0 | |||||||||||||||||||||||||||||||||
-20 | |||||||||||||||||||||||||||||||||
-30 | -1.4 | -2.0 | |||||||||||||||||||||||||||||||
2020/12 | 2021/12 | 2020/12 | 2021/12 | 2020/12 | 2021/12 | 2020/12 | 2021/12 | ||||||||||||||||||||||||||
Japan | Asia | North America | Europe |
Others | 2.0% | 4 | - 12 | ||
(0.3%) | (-4.6%) | ||||
Elimination of | - 580 | - 520 | |||
inter-segment transactions | |||||
Total | 16,913 | 5,688 | |||
(28.6%) | ( - ) | ||||
[Sales] | (+)Gains (-)Losses (Unit: JPY Million) | [Operating profit] (+)Gains (-)Losses (Unit: JPY Million) | |||
Net sales ratio | Year-on-year | Year-on-year | |||
comparison | comparison | ||||
Region | Causes of Gains and Losses | Causes of Gains and Losses | |||
2021/12 | Amount | Amount | |||
(%) | (%) | ||||
(+) Same as ➀, ② above. | (+) Same as ⑯ above. | ||||
13,309 | 4,547 | ⑱(+) Formed pipes, Knock pins, NC milled | |||
Japan | 57.2% | ⑬(+) Orders increase due to recovery in demand for service parts of construction | |||
(31.4%) | ( - ) | parts, etc.: Impact of profit improvement by recovery | |||
machinery. | |||||
from COVID-19. | |||||
⑭(+) China: Strong performance for local automobile manufacturers in China. | |||||
Asia | 23.6% | 6,315 | ⑮(+) Thailand: Orders increase due to demand recovery from COVID-19 in | 1,063 | (+) As sales increased on the left. |
(37.8%) | ( - ) | (+) Same as ⑱ above. | |||
Automotive Industry, and new delivery of aluminum die cast products for electric | |||||
vehicles. | |||||
⑯(+) Orders increase due to strong recovery in automotive production from | |||||
North America | 10.0% | 2,480 | COVID-19. | 819 | (+) As sales increased on the left. |
(34.0%) | ⑰(+) Orders increase due to continued recovery in demand in the construction | ( - ) | |||
machinery. | |||||
Europe | 9.1% | 1,952 | (+) Same as ⑯ above. | -169 | |
(including Russia) | (28.3%) | (-314.1%) | |||
Elimination of | -7,145 | -572 | |||
internal transactions | |||||
Total | 16,913 | 5,688 | |||
(28.6%) | ( - ) | ||||
- Future prospects are prepared as information purpose only, based on the information available to us at this moment, and are under certain condition which we assumed reasonable. We will not guarantee the realization of such prospects, and actual performance fluctuates due to various factors.
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