Financial Results Briefing Materials
(2024/4/1〜2024/9/30）
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Note to future-oriented statements
The forward-looking statements in this document, including performance forecasting, are based on currently available information and assumptions considered reasonable by us and do not guarantee our future financial results. Actual results may differ greatly from the forecast figures depending on various factors.
Note : This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
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Consolidated Financial Summary （millions of yen）
2024/3（2023/4-2024/3） | ||||||
1st Half | Margin | 2nd Half | Margin | Full Year | Margin | |
Sales | 42,028 | - | 41,986 | - | 84,014 | - |
Operating | 4,137 | 9.8% | 3,622 | 8.6% | 7,759 | 9.2% |
profit | ||||||
Ordinary | 5,611 | 13.4% | 3,994 | 9.5% | 9,605 | 11.4% |
Profit | ||||||
attributable to | 3,593 | 8.5% | 3,509 | 8.4% | 7,102 | 8.5% |
owners of parent
2025/3
（2024/4-2024/9）
1st Half | Margin |
45,451 | - |
4,548 | 10.0% |
4,286 | 9.4% |
6,091 | 13.4% |
vs.PY
(1st Half)
change | % |
+3,423 | +8.1% |
+411 | +9.9% |
△1,325 △23.6%
+2,498 | +69.5% |
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Quarterly Results | （100 mil. of yen) | |||||||||||||||||||||||||||
Sales | 220 | 212 | 215 | 210 | 210 224 230 | |||||||||||||||||||||||
200 | 187 | 185 | 174 | 164 | 144 | 161 | 169 175 | 193 | 178 | 186 192 206 | 191 205 | |||||||||||||||||
150 | ||||||||||||||||||||||||||||
100 | ||||||||||||||||||||||||||||
50 | ||||||||||||||||||||||||||||
0 | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | ||||||
2020/3 | 2021/3 | 2022/3 | 2023/3 | 2024/3 | 2025/3 | |||||||||||||||||||||||
Operating profit
30
20
10
0
23 21
15 | 14 | 11 | 15 | 15 |
9 | ||||
23
17 20 16
21 25 26
18
29
20 21 21
15 16
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q |
Operating | 2020/3 | 2021/3 | 2022/3 | 2023/3 | 2024/3 | 2025/3 |
profit | ||||||
10.3% | 7.7％ | 10.2％ | 10.9% | 9.2% | 10.0% | |
margin |
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Sales by Business
（millions of yen）
2024/3（2023/4-2024/3） | 2025/3 | vs.PY | |||||||||
（2024/4-2024/9） | (1st Half) | ||||||||||
1st Half | 2nd Half | Full Year | |||||||||
Margin | Margin | Margin | 1st Half | Margin | change | % | |||||
Belts (Japan) | 13,877 | 33.0% | 13,485 | 32.1% | 27,362 | 32.6% | 14,204 | 31.3% | +327 | +2.4% | |
(outside Japan) | 22,424 | 53.4% | 21,511 | 51.2% | 43,935 | 52.3% | 24,534 | 54.0% | +2,110 | +9.4% | |
Business | Belts | ||||||||||
Building & | 3,101 | 7.4% | 4,206 | 10.0% | 7,307 | 8.7% | 3,726 | 8.2% | +625 | +20.1% | |
Construction | |||||||||||
Materials | |||||||||||
Others | 2,624 | 6.2% | 2,785 | 6.6% | 5,409 | 6.4% | 2,986 | 6.6% | +362 | +13.8% | |
Total | 42,028 | 100% | 41,986 | 100% | 84,014 | 100% | 45,451 | 100% | +3,423 | +8.1% | |
Sales outside Japan | 22,680 | 54.0% | 21,750 | 51.8% | 44,430 | 52.9% | 24,783 | 54.5% | +2,103 | +9.3% | |
〈Sales by Business〉 | 〈Sales outside Japan〉 |
Belts | 6.6% | 31.3% | ％ | 53.9 | 54.5 | |||||||||||
8.2% | 52.9 | |||||||||||||||
(Japan) | 55 | 49.5 | ||||||||||||||
46.5 | 46.5 | 46.1 | 46.3 | 46.3 | ||||||||||||
Belts | 50 | 43.7 | 45.0 | 45.1 | ||||||||||||
(outside Japan) | ||||||||||||||||
45 | ||||||||||||||||
Construction | ||||||||||||||||
40 | ||||||||||||||||
Materials | ||||||||||||||||
Others | 54.0% | 35 | 2014/3 | 2015/3 | 2016/3 | 2017/3 | 2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | 2023/3 | 2024/3 | 2025/3 | ||
-2Ｑ |
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Breakdown of Belt Sales
（millions of yen）
2024/3（2023/4-2024/3） | 2025/3 | vs.PY | ||||||||||
（2024/4-2024/9） | (1st Half) | |||||||||||
1st Half | Margin | 2nd Half | Margin | Full Year | Margin | 1st Half | Margin | change | % | |||
Automotive parts | 19,316 | 53.2% | 19,404 | 55.4% | 38,720 | 54.3% | 21,417 | 55.3% | +2,101 | +10.9% | ||
Industrial | Industrial belt | 11,698 | 32.2% | 10,257 | 29.3% | 21,955 | 30.8% | 11,654 | 30.1% | △44 | △0.4% | |
OA equipment | 1,372 | 3.8% | 1,455 | 4.2% | 2,827 | 4.0% | 1,570 | 4.1% | +198 | +14.4% | ||
machinery | ||||||||||||
Engineering plastics | 1,569 | 4.3% | 1,442 | 4.1% | 3,011 | 4.2% | 1,437 | 3.7% | △132 | △8.4% | ||
Conveyor belt | 2,347 | 6.5% | 2,437 | 7.0% | 4,784 | 6.7% | 2,661 | 6.9% | +314 | +13.3% | ||
Total | 36,302 | 100% | 34,995 | 100% | 71,297 | 100% | 38,738 | 100% | +2,436 | +6.7% | ||
〈2025/3 | 1st Half 〉 | 〈Belt Sales〉 |
Automotive parts Industrial belt
OA equipment Conveyor belt
6.9% | 3.7% | (100millions of yen) | ||
4.1% | 600 | |||
55.3% | ||||
400
200
Engineering plastics | 0 | ||||||||||||
30.1% | |||||||||||||
2014/3 | 2015/3 | 2016/3 | 2017/3 | 2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | 2023/3 | 2024/3 | |||
Automotive parts | Industrial belt | OA equipment | Conveyor belt | Engineering plastics | |||||||||
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Analysis of Operating Profit | （100 mil. of yen） | |||||
2023-2Q | 2024-2Q | change | | (＋) Increase in sales | ||
Sales | 420.2 | 454.5 | +34.2 | |||
Effects of FOREX Rates | ||||||
Operating | 41.3 | 45.4 | +4.1 | |||
| (－) Effects of sales composition | |||||
Profit | ||||||
Increase in labor costs and logistics costs | ||||||
Ordinary | 56.1 | 42.8 | △13.3 | |||
Profit |
Operating Profit Positive factor Negative factor
50 | Logistics costs | Effects of FOREX Rates | |||||||
8.3 | 2.5 | 1.0 | 2.0 | ||||||
40 | 2.6 | 1.9 | 5.8 | ||||||
30 | 41.3 | Labor costs | 45.4 | ||||||
Raw material costs | Others | ||||||||
20 | |||||||||
Effects of sales mix | |||||||||
10 | Increase in sales | ||||||||
2023-2Q | +4.1 | 2024-2Q | |||||||
Operating | Operating | ||||||||
0 | Profit | Profit | |||||||
2023-2Q | Sales | Sales Mix | Materials | Labor costs | Logistics | Others | FOREX | 2024-2Q | |
Decrease |
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Capital expenditures and Depreciation （100 mil. of yen）
Capital expenditures | （capitalized amounts） |
80
60
40
20
0
1st Half | 2nd Half |
17 | 22 | 41 | 21 | 24 | ||||
27 | ||||||||
7 | ||||||||
7 | 9 | 14 | ||||||
14 | ||||||||
12 | ||||||||
10 | 15 | 10 |
34
19
14
32
21
11
33
19
13
60
39
21
37
19
18
44 36
- 15
- 22
75
24
52
64
32
32
2012/3 | 2013/3 | 2014/3 | 2015/3 | 2016/3 | 2017/3 | 2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | 2023/3 | 2024/3 | 2025/3 (F) |
Depreciation
60
40
20
0
1st Half | 2nd Half | 40 | 39 | 41 | 43 | 46 | ||||||||||||||||||||||
31 | 28 | 29 | 31 | 31 | 28 | 30 | 30 | 33 | ||||||||||||||||||||
24 | ||||||||||||||||||||||||||||
22 | 20 | 21 | 22 | |||||||||||||||||||||||||
16 | 16 | 18 | ||||||||||||||||||||||||||
14 | 15 | 17 | 15 | 16 | 16 | |||||||||||||||||||||||
21 | 22 | |||||||||||||||||||||||||||
20 | ||||||||||||||||||||||||||||
18 | ||||||||||||||||||||||||||||
17 | ||||||||||||||||||||||||||||
16 | ||||||||||||||||||||||||||||
14 | 15 | 14 | 15 | 14 | 14 | 15 | 15 |
2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 2022/3 2023/3 2024/3 2025/3 (F)
'24 Mid-Term Business Plan (FY2024-FY2026)
・3-year capital investment budget ︓ 20.0 Bil. Yen | |
・The approved amount for FY2024 plan is approximately 6.5 billion yen | |
(as of the end of September 2024). | 8 |
Forecast | （millions of yen） |
2025/3 | Year-on-Year | ||||
2024/3 | |||||
Forecast | |||||
Results | 1st Half | Full year | change | ％ | |
(2024/4- | |||||
2024/9) | |||||
Sales | 84,014 | 45,451 | 88,500 | +4,486 | +5.3% |
Operating Profit | 7,759 | 4,548 | 9,050 | +1,291 | +16.6% |
Margin | 9.2% | 10.0% | 10.2% | ||
Ordinary Profit | 9,605 | 4,286 | 8,600 | △1,005 | △10.5% |
Margin | 11.4% | 9.4% | 9.7% | ||
Profit attributable to | 7,102 | 6,091 | 9,300 | +2,198 | +30.9% |
owners of parent | |||||
Margin | 8.5% | 13.4% | 10.5% | ||
Exchange rate︓USD
144.6 yen
152.6 yen
140 yen
（period average）
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Dividends | |||||||||||||||||||||||
Interim | Year-end | Total | |||||||||||||||||||||
2024/3 | ¥125 | ¥125 | ¥250 | ||||||||||||||||||||
2025/3 | ¥90 | ¥90 | ¥180 | ||||||||||||||||||||
2025/3(Forecast) | |||||||||||||||||||||||
250 | Payout ratio | Ordinary dividend | 100100 | ||||||||||||||||||||
100 | |||||||||||||||||||||||
200 | 2009/3︓482％ | Special dividend | |||||||||||||||||||||
2010/3︓130％ | 97 | ||||||||||||||||||||||
Payout ratio % | 80 | ||||||||||||||||||||||
150 | 65 | 250 55 | |||||||||||||||||||||
250 | 60 | ||||||||||||||||||||||
100 | 37 | 30 | 41 | 180 40 | |||||||||||||||||||
28 | 24 | 28 | 29 | ||||||||||||||||||||
30 26 | 25 | 22 | 21 | 20 | 20 | 24 | 143 | ||||||||||||||||
50 | 21 | 32 36 | 60 | 20 | |||||||||||||||||||
24 | 40 | ||||||||||||||||||||||
16 | 8 | 10 | |||||||||||||||||||||
8 | 4 | 4 | |||||||||||||||||||||
0 | 12 | 4 | 16 | 24 | 36 24 | 24 24 28 28 | 44 50 | 50 | 54 | 57 | 0 | ||||||||||||
12 | 32 | 3236 36 | |||||||||||||||||||||
2003/3 | 2004/3 | 2005/3 | 2006/3 | 2007/3 | 2008/3 | 2009/3 | 2010/3 | 2011/3 | 2012/3 | 2013/3 | 2014/3 | 2015/3 | 2016/3 | 2017/3 | 2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | 2023/3 | 2024/3 | 2025/3 |
The share was consolidated (2 shares→ 1 share) on Oct. 1, 2018. The values of dividends are converted on the post-consolidation basis.
'24 Mid-Term Business Plan (FY2024-FY2026)
ＤＯＥ(Dividend on equity ratio) target︓ approx. 5.4％ （Dividend per share︓at least 180 yen / year）
(F)
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