Yushin Company · TSE:6482
Yushin — Yushin Precision Equipment — FY2024 Earnings Presentation
34 slides from Yushin's earnings presentation, May 16, 2024
Slide 1: FY2024 Investors Presentation
FY2024 Investors Presentation Standard Market of the Tokyo Stock Exchange Security Code 6482 May 16, 2024 This document contains some estimates of future business performance. Such estimates should not be construed as guarantees. Please note that future performance is subject to various risks and un
Slide 2: Summary
Summary ➢ FY2024 results - Net sales increased (record high) due to increased sales in North America and Europe and the impact of yen depreciation - Operating profit decreased due to soaring raw material prices and aggressive investment in human resources. ➢ FY2025 forecast - Net sales are expected
Slide 3: FY2024 Results
FY2024 Results FY2023 FY2024 Amount Amount Change Mil. Yen Mil. Yen % Net sales 22,373 23,615 5.6 Gross profit 9,573 9,788 2.2 <%> 42.8% 41.5% Operating profit 2,639 2,437 (7.7) <%> 11.8% 10.3% Ordinary profit 2,787 2,586 (7.2) <%> 12.5% 11.0% Profit attributable to owners of parent 1,922 1,692 (12.
Slide 4: FY2024 Results - Summary
FY2024 Results - Summary (+) Positive factor (–) Negative factor ➢ 23,615 million yen, up 5.6% y/y Robot sales, down 4.6% y/y (–) Slowdown in Asian markets, especially China (–) Sluggish global demand for injection molding machines Custom-ordered equipment sales, up 33.5% y/y Net sales (+) Steady de
Slide 5: FY2025 Forecast
FY2025 Forecast FY2024 FY2025 (forecast) Amount Amount Change Mil. Yen Mil. Yen % Net sales 23,615 25,500 8.0 Gross profit 9,788 10,507 7.3 <%> 41.5% 41.2% Operating profit 2,437 2,600 6.7 <%> 10.3% 10.2% Ordinary profit 2,586 2,600 0.5 <%> 11.0% 10.2% Profit attributable to owners of parent 1,692 1
Slide 6: FY2025 Forecast - Summary
FY2025 Forecast - Summary (+) Positive factor (–) Negative factor ➢ 25,500 million yen, up 8.0% y/y Robot sales, up 9.6% y/y (+) Strong sales of medical and mobility Net sales Custom-ordered equipment sales, up 3.7% y/y (+) Sales of custom-ordered medical equipment remain strong (+) Continued demand
Slide 7: Sales by Product Category
Sales by Product Category ➢ Large-scale custom-ordered medical equipment recorded sales in FY2024 ➢ Increased sales of take-out robots and continued sales of large-scale custom-ordered medical equipment expected (Millions of yen) 30,000 (forecast) 25,500 25,000 23,615 22,373 Parts and 4,600 Maintena
Slide 8: Sales by Region
Sales by Region ➢ Decreased in Japan and Asia, but increased in North America and Europe ➢ Expect demand for automation to increase in Japan, Europe and Asia in FY2025. (Millions of yen) 30,000 (forecast) 25,500 25,000 23,615 500 Others 22,373 1,086 20,874 653 5,100 North America 20,011 492 20,000 5
Slide 9: Sales by End-User Industry
Sales by End-User Industry ➢ In FY2024, Medical grew in Europe and North America, and mobility also increased Y/Y. ➢ Expect increase in Medical and Mobility in FY2025 as well. (Millions of yen) 30,000 (forecast) 25,500 25,000 23,615 1,300 Others 22,373 1,215 2,000 Electrical appliance 20,874 1,291 1
Slide 10: Sales by End-User Industry
Sales by End-User Industry Others 5% Electrical appliance 8% Containers Mobility 8% 28% Sundry products 8% Electronics 19% Medical 25% FY2024 Net sales 23.6 billion yen © 2024 YUSHIN PRECISION EQUIPMENT CO., LTD. 10
Slide 11: Capital Investment, Depreciation and R&D
Capital Investment, Depreciation and R&D (Millions of yen) 2,000 Capital Investment Depreciation R&D Expenses 1,500 Old headquarters renovation 1,000 Real estate acquisition 500 0 '20/3 '21/3 '22/3 '23/3 '24/3 '25/3 (forecast) Capital Investment 198 125 846 319 350 968 Depreciation 703 643 585 521 5
Slide 12: Management Policy, Business Strategy, and Management Goals
Management Policy, Business Strategy, and Management Goals Business Philosophy Vision Act fairly and judiciously with all of our “strength, wisdom and courage” in Business order to earn the trust of our customers and shareholders. A company that provides products and services that Philosophy delight
Slide 13: Cash Allocation (~FY2027)
Cash Allocation (~FY2027) 1. Strategic investment to create products and services that contribute to solving social issues 2. Proactive investment to expand market share of take-out robots 3. Investments to achieve sustainable growth from a long-term perspective 4. Promote initiatives that meet the
Slide 14: Strategy 1: Investing in the Next Generation of Human Resources
Strategy 1: Investing in the Next Generation of Human Resources ➢Promote initiatives to strengthen human capital centered on the penetration of our corporate philosophy ➢Build CI and human resource development policy on the concept of "Above all, reach people's hearts“ ➢Creating an organization that
Slide 15: Strategy 2: Strengthen Global Sales Capabilities
Strategy 2: Strengthen Global Sales Capabilities ➢ Sales expansion in Europe: Acquisition of 100% of the shares of WEMO (Sweden) (May 2023) ➢ Target leading companies in the world ➢ Strengthening the technical service system NPE exhibition in Florida in May, 2024 © 2024 YUSHIN PRECISION EQUIPMENT CO
Slide 16: Strategy 3, 4: Strengthening Product Capabilities / Develop New Businesses
Strategy 3, 4: Strengthening Product Capabilities / Develop New Businesses ➢ Palletizing robot released (June, 2020) − Acquire new customers mainly in food industry − Emphasize the advantages - small-footprint and easy-access ➢ Low height model launched (August 2023) ➢ Dual-pallet model added (April
Slide 17: Contribution to a sustainable society
Sustainability Management - Environment ~FY2024 ~FY2027 ~FY2031 Scope 1&2 reduction target in Japan (compared to FY2021) 58% 64% 70% Numerical Contribution to a sustainable society goal Percentage of environmentally friendly vehicles in company-owned vehicles 36% 65% 77% ⚫ Support for TCFD recommend
Slide 18: Sustainability Management - Human Rights
Sustainability Management - Human Rights ➢Establishment of YUSHIN Group Human Rights Policy (July 2022) ➢Support for the Ministry of Justice's "My Declaration of Human Rights" Initiatives (August 2023) ➢Establishment of YUSHIN Group Procurement Guidelines (February 2024) Human rights training for di
Slide 19: Return to Shareholders
Return to Shareholders ➢ Dividend Policy ⚫ In order to provide stable and continuous returns to shareholders, we aim for a dividend payout ratio of 30% or more. ⚫ Raise the level of the common dividend by improving consolidated performance. Annual dividends (yen) Dividend payout ratio (%) 35 Annual
Slide 20: Appendix
YUSHIN Appendix
Slide 21: Company Profile
<Appendix> Company Profile Company Name: YUSHIN PRECISION EQUIPMENT CO., LTD Representative Director Takayo Kotani and President: Established: October, 1973 Capital: 1,985 million yen Number of employees: 787 (Consolidated, as of March 31, 2024) Consolidated net sales: 23.6 billion yen (FY2024) Line
Slide 22: Our Strength
<Appendix> Our Strength Technology Broad Customer Base ➢ High-speed take-out ➢ Customers in wide range of ➢ Energy saving industries ➢ Power to propose solutions ➢ Globalization ➢ Branch out into new businesses Human Capital Management Reliability Financial Strength ➢ Top market share ➢ Strong balan
Slide 23: Change in Performance
<Appendix> Change in Performance Net Sales Ordinary Profit (Millions of yen) (Millions of yen) 30,000 10,000 (forecast) 9,000 25,000 Special demand of optical disc (2000s) 8,000 Years of globalization (1990s~2000s) 7,000 20,000 6,000 15,000 5,000 4,000 10,000 3,000 2,000 5,000 Entered the take-out r
Slide 24: Global Network
<Appendix> Global Network Sweden <Värnamo> South Korea Canada<Toronto> <Siheung> UK<Birmingham> China<Tianjin, Yantai, Dalian> South Korea USA<Ohio> Germany <Daegu> <Munich> USA<Rhode Island> China<Shanghai> USA<California> USA<Texas> China<Chongqing, Wuhan, Suzhou> USA Japan <North Carolina> Turkey
Slide 25: Quarterly Trend of Orders Received and Order Backlog
<Appendix> Quarterly Trend of Orders Received and Order Backlog ➢ Orders for robots did not show a strong recovery due to weak demand for injection molding machines worldwide. ➢ Order backlog for custom-ordered equipment remained high. (Millions of yen) Orders received 18,000 Robots Custom-ordered e
Slide 26: Balance Sheets
<Appendix> Balance Sheets ➢ Increase in intangible assets and inventory ➢ Maintained high equity ratio and zero interest- due to acquisition of WEMO as a subsidiary bearing debt (Millions of yen) (Millions of yen) Assets Liabilities, Net Assets 45,000 45,000 Investments and other assets Notes and ac
Slide 27: Change in Cash Flow
<Appendix> Change in Cash Flow Major cash flow analysis (millions of yen) Operating CF Investing CF Financing CF 119 (2,519) (1,070) Depreciation Profit before +599 income taxes +2,561 Other operating CF (147) Trade payables As of March (885) 31, 2023 Other 10,815 current Effect of liabilities Incom
Slide 28: Product Lineup (1)
<Appendix> Product Lineup (1) Sales ratio Robots FRA series HSA series HST series 57% <Traverse type> <Traverse type> <Traverse type> 13,504 million yen FY2024 RC series YD series SD series <Traverse type> <Traverse type> <Traverse type> HOP series TSXA series Palletizing series <Swing type> <Side-E
Slide 29: Product Lineup (2)
<Appendix> Product Lineup (2) Sales ratio Custom-ordered Equipment Gate cut stock system 25% Flexible In-mold system module stocker 5,882 million yen FY2024 Parts and Maintenance services Sales ratio 18% 4,228 million yen FY2024 © 2024 YUSHIN PRECISION EQUIPMENT CO., LTD. 29
Slide 30: Performance and Price of Take-out Robots
<Appendix> Performance and Price of Take-out Robots Performance FRA HSA High-end TSXA HST High-cycle series RC YD High speed High stiffness Traverse type <All axes servo driven> Multi purpose SD Energy saving For Asian market HOP Energy saving Swing type <Air driven> Price © 2024 YUSHIN PRECISION EQ
Slide 31: ESG / SGDs
<Appendix> ESG / SGDs < Environmentally-Friendly Products > • Development of energy-saving products (Won the JMF’s E Energy-Efficient Machinery Award) Related SGDs Environment < Efforts to Fight Climate Change and Decarbonize > • Switched to the power generated by renewable energy source • Informati
Slide 32: YUSHIN's Target Products Are…
<Appendix> YUSHIN’s Target Products Are… © 2024 YUSHIN PRECISION EQUIPMENT CO., LTD. 32
Slide 33: Monthly Stock Price Trend over the past Decade
<Appendix> Monthly Stock Price Trend over the past Decade (yen) 2,000 A two-for-one stock split 1,800 1,600 Share buyback announced 1,400 1,200 1,000 800 600 400 © 2024 YUSHIN PRECISION EQUIPMENT CO., LTD. 33
Slide 34: Contact: Corporate Planning Office
Contact: Corporate Planning Office (E-mail) [email protected] www.ype.co.jp/en/ The IR site distributes explanatory meeting information and various materials. http://ir.ype.co.jp/en/Top.html You can also access from this QR code. Notes: This document contains some estimates of future business per
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