FINANCIAL
RESULTS BRIEFING
- Fiscal Years Ended March 31, 2024 ）
June 3, 2024
TBK Co., Ltd.
（Stock Code：7277）
Challenge to the future～未来への挑戦～
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Agenda
Ⅰ . Financial Results for the Fiscal Year Ended March 31, 2024
Ⅱ. Forecast for the Fiscal Year Ended March 31, 2025
Ⅲ. Progress of the 15th Mid-Term Business Plan
【Speakers】
CEO：Kaoru Ogata
Managing Executive Officer：Masato Kobayashi
General Manager of Business Planning Division：Kentaro Sasaki
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Ⅰ . Financial Results for the
Fiscal Year Ended March 31, 2024
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（1） Summary of consolidated statements of income
(Unit：100 million yen) | （Reference） | ||
FY2023 | FY2022 | Changes | FY2021 |
Net Sales
Operating Income
Ordinary Income
Net Income
566.5 | 535.2 | ||
9.0 | 1.6% | ▲6.2 ▲1.2% | |
8.4 | 1.5% | ▲6.2 ▲1.2% | |
3.3 | 0.6% | ▲20.6 ▲3.8% |
31.3 5.9%
15.2 ー
14.6 ー
23.9 ー
511.9
5.9 1.2%
12.3 2.4%
7.8 1.5%
《Exchange Rate》 | FY2023 | FY2022 | Changes | FY2021 | |||||
THB | 4.11 | 3.84 | 7.0% | 3.44 | |||||
INR | 1.75 | 1.69 | 3.6% | 1.51 | |||||
HKD | 17.97 | 16.81 | 6.9% | 14.14 | |||||
CNY | 19.83 | 19.50 | 1.7% | 17.04 | |||||
USD | 140.67 | 131.63 | 6.9% | 109.91 |
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（2） Net sales and operating profit by region
(Unit：100 million yen) | （Reference） |
Japan
Asia
China
North
America
Adjustment
Total
FY2023 | FY2022 | ||||
Net Sales | Operating Income Net Sales | Operating Income | |||
297.2 | 1.5 | 0.5% | 295.3 | ▲4.2 ▲1.4% | |
192.4 | 10.0 | 5.2% | 177.7 | 9.3 | 5.2% |
35.1 | ▲0.6 ▲1.7% | 20.0 | ▲7.2 ▲36.0% | ||
41.7 | ▲0.3 ▲0.7% | 42.1 | ▲4.4 ▲10.5% | ||
▲1.4 | 0.3 | ||||
566.5 | 9.0 | 1.6% | 535.2 | ▲6.2 ▲1.2% |
Changes | |
Net Sales | Operating |
Income | |
- 5.7
- 0.7
- 6.6
▲0.4 | 4.1 |
▲1.7 |
31.3 15.2
FY2021
Net Sales Operating Income
284.8 3.0 1.1%
- 8.8 5.7%
- 0.1 0.3%
-
▲6.0 ▲18.1%
0.0
- 5.9 1.2%
・Japan ・Asia ・China
・North America
：The Japan segment has achieved profitability through price adjustments and etc.
：In Thailand, the decline in demand due to rising interest rates and inflation was offset by the expansion of new sales, while the profit margin was maintained due to the favorable Indian market
：Efforts to rationalize material costs have led to significant improvements, but the situation remains unclear
：Although the deficit was reduced through continued rationalization measures in logistics and material costs, the interest burden increased
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（3） Net sales by product
(Unit：100 million yen) | （Reference） |
Brakes
Pumps
Engine Parts
Other
Sub Total
Total
FY2023 | |
Asia/China | |
Japan | /North |
America |
- 65.4
- 124.8
- 71.1
- 8.1
-
269.3
566.5
FY2022 | |
Asia/China | |
Japan | /North |
America |
- 54.8
- 117.6
- 61.1
- 6.3
-
239.9
535.2
Changes | FY2021 | ||
Asia/China | Asia/China | ||
Japan | /North | Japan | /North |
America | America |
- 10.6 128.062.4 ▲12.5 7.2 116.192.8 ▲0.7 10.0 17.3 64.2
- 1.8 23.4 7.6
1.9 29.4 284.8 227.1
31.3 | 511.9 |
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（4) Fluctuation factors in consolidated ordinary profit
(Unit：100 million yen)
・Increased in sales excluding effects of currency translation and effects of selling prices
・Continuation of urgent countermeasures and rationalization
・ Domestic investment reduction
・Peaked energy cost surcharges and effect of rising base prices
- Effects of improving conditions on the materials market
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（5）Consolidated quarterly net sales and ordinary profit trends
Net Sales
FY2023
FY2022
FY2021
Ordinary
Profit
8.7
133 | 144 |
133 | 139 |
129 | |
123 | |
(Unit：100 million yen)
142148
134 | 139 |
125 | 126 |
Operating
Profit
6.0 5.1
4.3
3.3 3.0
0.5 | 0.6 | 1.2 | ||
1st quarter | 2nd quarter | 3rd quarter | 4th quarter | |
▲0.2 | ▲0.9 ▲1.4 | |||
▲2.4 | ▲2.2 | |||
FY2021 FY2022 FY2023
3.0 | ||||
2.0 | 1.8 | |||
0.0 | ||||
1st quarter | 2nd quarter | 3rd quarter | 4th quarter | |
▲0.9 | ▲0.2 ▲0.0 | |||
▲1.8 | ||||
▲3.4 | ▲2.9 | |||
FY2021 | FY2022 | FY2023 |
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（6） Summary of consolidated statements of cash flow
Cash and cash equivalents at March | 39 | ||||||||
31, 2023 | |||||||||
Cash flow from operating activities | ＋31 | ||||||||
Cash flow from investing activities | ▲25 | ||||||||
Free cash flow | ＋6 | ||||||||
Cash flow from financing activities | ▲3 | ||||||||
Cash and cash equivalents at Sep | 42 | ||||||||
31, 2023 | |||||||||
0 | 10 | 20 | 30 | 40 | 50 | 60 | 70 | 80 | |
(Unit：100 million yen)
Operating activities CF
Profit (loss) before income taxes ＋11 Depreciation＋31
Investing activities CF
Purchase of property, plant and equipment ▲35
Proceeds from sale of investment securities +6
Insurance received +3.5
Financing activities CF
Interest-bearing debt▲1.5 Dividends ▲1.5
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（7） Summary of consolidated balance sheets
FY2023 | FY2022 | Changes | |||||
Current Assets | 290.7 | 261.0 | 29.7 | ||||
Non Current Assets | 274.6 | 260.7 | 13.9 | ||||
Total Assets | 565.3 | 521.7 | 43.6 | ||||
Current liabilities | 208.8 | 186.2 | 22.6 | ||||
Non Current liabilities | 62.9 | 60.2 | 2.7 | ||||
Total liabilities | 271.7 | 246.5 | 25.2 | ||||
Shareholders' Equity | 231.8 | 229.6 | 2.2 | ||||
Accumulated other | 54.1 | 39.4 | 14.7 | ||||
comprehensive income | |||||||
Non-controlling interest | 7.4 | 6.2 | 1.2 | ||||
Total net assets | 293.5 | 275.2 | 18.3 | ||||
Total liabilities and net assets | 565.3 | 521.7 | 43.6 |
(Unit：100 million yen)
Notes receivable-trade＋10 Accounts receivable-trade＋10 Inventories +9
Construction in progress ▲18
Machinery and buildings＋27
Securities +3
Accounts payable-trade＋16
Short-term borrowings ＋5
Valuation difference on available- for-sale-securities +4
Foreign currency translation adjustment +9
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