JTEKT Corporation · TSE:6473
JTEKT — Q2 FY2017 Earnings Presentation
82 slides from JTEKT's earnings presentation, Nov 14, 2017
Slide 1: Financial Results for the Second Quarter of Fiscal Year Ending March 2018
1 Financial Results for the Second Quarter of Fiscal Year Ending March 2018 November 14, 2017 JTEKT Corporation JTEKT Corporation
Slide 2: Agenda
2 1. Results for Second Quarter of Fiscal Year Ending March 2018 2. Forecasts for Second Quarter of Fiscal Year Ending March 2018 3. Progress of Mid-Term Management Plan JTEKT Corporation
Slide 3: 1-1) Consolidated Performance
3 1-1) Consolidated Performance Operating profit decreased 1.8 % despite the increase in the sales as a result of weak yen and of the increased physical amount (+ 6.5 %). Ordinary profit and quarterly net profit increased as a result of the decrease in the special loss and by including the foreign e
Slide 4: 1-2) Operating Profit Analysis
4 1-2) Operating Profit Analysis The decline in the selling price and increase in costs were covered by the effects of the sales increase and cost improvement, however, the effects of the foreign exchange rate did not remain due to the unrealized gains and SOP of the downstream-assist-type EPS. Oper
Slide 5: 1-3) Results by Business Units (Mechanical Components)
1-3) Results by Business Units 5 (Mechanical Components) Sales increased as a result of the effects of the foreign exchange rate and bearing demand recovery, however, profit decreased due to the impacts of SOP of downstream-assist-type EPS and unrealized gains. (billions of yen) Mechanical FY2016 FY
Slide 6: 1-4) Results by Business Units (Machine Tools & Others)
1-4) Results by Business Units 6 (Machine Tools & Others) Sales increased mainly in North America and Asia/Oceania, however, profit decreased due to the increase in IoE related business and such expense as well as the impacts of unrealized gains. (billions of yen) Machine tools FY2016 FY2017 Increas
Slide 7: 1-5) Financial Results by Company Location [1]
7 1-5) Financial Results by Company Location [1] Sales Operating Profit Rate (OP Profit %) Japan Operating Profit (OP Profit) FY2016 FY2017 Increase/ (billions of yen) 2Q 2Q Decrease 5.8 % 5.9 % 5.6 % 400 4.7 % 2.7 % 4.8 % 4.0 % 40 Sales 268.3 274.3 6.0 OP Profit 7.1 10.9 3.7 280.3 284.8 281.0 300 2
Slide 8: 1-6) Financial Results by Company Location [2]
8 1-6) Financial Results by Company Location [2] Sales Operating Profit Rate (OP Profit %) North America Operating Profit (OP Profit) FY2016 FY2017 Increase/ (billions of yen) 2Q 2Q Decrease 3.1 % 4.4 % 4.0 % 5.2 % 4.5 % 5.0 % Sales 145.0 145.4 0.4 2.7 % 200 20 168.9 OP Profit 6.5 3.9 (2.6) 159.0 15
Slide 9: 1-7) Financial Results by Company Location [3]
9 1-7) Financial Results by Company Location [3] Sales Operating Profit Rate (OP Profit %) China Operating Profit (OP Profit) FY2016 FY2017 Increase/ (billions of yen) 2Q 2Q Decrease 100 11.1 % 12.7 % 15.2 % 13.7 % 16.7 % 15.2 % 15.6 % 20 Sales 57.2 70.0 12.8 OP Profit 9.5 10.9 1.3 70.5 70.0 15 64.9
Slide 10: Agenda
10 1. Results for Second Quarter of Fiscal Year Ending March 2018 2. Forecasts for Second Quarter of Fiscal Year Ending March 2018 3. Progress of Mid-Term Management Plan JTEKT Corporation
Slide 11: 2-1) Forecasts for Business Environment
11 2-1) Forecasts for Business Environment Developed countries North America remains steady. Europe maintains a gradual recovery despite an unclear political situation. Emerging countries Gradual recovery as a result of the repercussions of the steady growth of the developed countries. Japan
Slide 12: 2-2) Forecasts for Fiscal Year 2017
12 2-2) Forecasts for Fiscal Year 2017 Sales increased thanks to the effects of the foreign exchange rate and M&A, however, due to the increase in expense, sales profit is expected to be the same level as the previous year. (billions of yen) FY2017 (Forecast) Increase/ FY2016 Increase/ FY2017 Decrea
Slide 13: 2-3) Operating Profit Analysis vs. Previous Period
13 2-3) Operating Profit Analysis vs. Previous Period While preparation for SOP of North America’s downstream-assist-type EPS is necessary and development costs (for ADAS/IoE support) increase, a slight profit increase is expected from the effects of the foreign exchange rate and sales increase Oper
Slide 14: Agenda
14 1. Results for Second Quarter of Fiscal Year Ending March 2018 2. Forecasts for Second Quarter of Fiscal Year Ending March 2018 3. Progress of Mid-Term Management Plan JTEKT Corporation
Slide 15: Contents
15 3）Progress of Mid-Term Management Plan CONTENTS 1. Actions for Management Environment Changes 1) Our business foundation and present/new business 2) Actions for New business 3) Our approach to EV 2. Strategies of Business Units 1) Steering Systems 3) Bearings 2) Drivelines 4) Machine Tools & Mech
Slide 16: 1) Actions for Management Environment Changes
16 3-1) Actions for Management Environment Changes 1) Actions for Management Environment Changes 1) Our business foundation and present/new business 2) Actions for New business 3) Our approach to EV JTEKT Corporation
Slide 17: 3-1-1) How to Strengthen Present and New Business
17 3-1-1) How to Strengthen present and new business Corp. value Business New Shaping a Better Future through the Spirit of “No.1 & Only One” EV EV DL Business Present MT&M STG BRG Foundation Business OP reform Work style reform Advanced IT B/S streamlining Global HR JTEKT JPS WAY Problem solving me
Slide 18: 3-1-2) Actions for New Business
18 3-1-2) Actions for New Business First new product developed by Second development the New Business Planning Meeting – 40°C to 85 °C first in the world E.g.: JTEKT-made high-heat EPS available on resistant LIC 12V large passenger 12 to 18 V cars (e.g. SUV) Charge- discharge controller Power-assist
Slide 19: 3-1-3) Our Approach to EV
19 3-1-3) Our Approach to EV EV is a great business opportunity. Product development/supply that looks ahead of customers’ demand. • Fix our eyes on electric power infrastructure situation, element engineering development of batteries, and to the trends of government worldwide as well as vehicle/com
Slide 20: 1) Steering Systems
20 3-2) Strategies of Business Units 1) Steering Systems JTEKT Corporation
Slide 21: 3-2-1) Steering Systems Business Mid-term Management Plan
3-2-1) Steering Systems Business 21 Mid-term Management Plan With a “No. 1 & Only One” spirit, continue to evolve as the leading supplier in the market by continuing to provide value to our customers Mid-term Maintain the top global share for Share 25 % target automotive steering systems Steering sy
Slide 22: 3-2-1) Steering Business Growth Strategy
22 3-2-1) Steering Business Growth Strategy Continue to maintain the top share for steering, and to be the No. 1 & Only One as the top runner for advanced steering technology such as ADAS Intense market competition Evolution of technology Change of competitive foundation Environmental changes • Inte
Slide 23: 3-2-1) Situation of downstream-assist-type EPS
23 3-2-1) Situation of downstream-assist-type EPS ■ RP-EPS Nov. 2016: Start of mass production in Hanazono Plant (Japan) May 2017: SOP in Tennessee (NA) Feb. 2019: Promotion of SOP in Tianjin (China) Establish global three-summit production Hanazono Plant RP-EPS line RP-EPS production trend (thousan
Slide 24: 3-2-1) Expansion into Morocco
24 3-2-1) Expansion into Morocco Able to meet Europe customers’ expectations and aim to enhance our presence and stable growth of Europe business through the expansion into Morocco. North Africa automobile Planning to establish a plant in an industrial park in production market (thousands of vehicle
Slide 25: 3-2-1) Strengthen Indian business
25 3-2-1) Strengthen Indian business Accelerate the activities to establish a regional management system. Promote sales expansion in the expanding Indian market to actualize the management in India as well as the improvement of customer satisfaction that follow JTEKT WAY. Haryana Promotion of PMI ac
Slide 26: 3-2-1) Strengthen Column Business
26 3-2-1) Strengthen Column Business Strengthen the steering systems foundation through the integration of column business led by JTEKT after the acquisition of substantial management rights of FKK. World column market FKK’s production Obtain competitively through the integration of development JT
Slide 27: 3-2-1) Strengthen Electronics Engineering Development
3-2-1) Strengthen Electronics Engineering 27 Development – IT Center (Akita, Japan) - Situation around steering systems Support Support high-output Support ADAS Support SBW JTEKT MCU EPS To aim the strengthening of next-generation steering development, a development center was established in Akita p
Slide 28: 3-2-1) Forecast for FY2018 Mid-term Business Plan for Steering Systems
3-2-1) Forecast for FY2018 Mid-term Business Plan 28 for Steering Systems FY2018 Sales and Profit Forecast ¥95/US$, ¥110/€, ¥16/yuan 2018 2021 Sales: Go beyond the initial target as a result of the Sales: Steady increase expected FKK/SONA’s increase despite the stagnation of global Profit: Promote f
Slide 29: 2) Drivelines
29 3-2) Strategies of Business Units 2) Drivelines JTEKT Corporation
Slide 30: 3-2-2) Drivelines Business Mid-term Management Plan
3-2-2) Drivelines Business 30 Mid-term Management Plan With a “No. 1 & Only One” spirit, continue to evolve as the leading supplier in the market by continuing to provide value to our customers Mid-term target Advance to be a leading global company as a supplier of Drivelines driveline systems Prior
Slide 31: 3-2-2) Driveline Business Growth Strategy
31 3-2-2) Driveline Business Growth Strategy As a distinctive system supplier that takes advantage of strengths such as AWD and hydraulics, aim to become the No. 1 & Only One for the driveline business. Intense market competition Evolution of technology Change of competitive foundation Environmental
Slide 32: 3-2-2) Drivelines Business Sales Portfolio
32 3-2-2) Drivelines Business Sales Portfolio Simultaneously proceed establishment toward 2020 and preparation after 2020 Toward 2020 Beyond 2020 Strengthen business foundation and • Supply driveline products as a system profit foundation through a certain • Support next-gen. products including exec
Slide 33: 3-2-2) JTEKT's Actions toward Next-gen. Driveline Systems
3-2-2) JTEKT’s Actions toward 33 Next-gen. Driveline Systems Improve system solution as a driveline systems supplier 1) Accelerate development of next-gen. models 2016: Start of driveline business HQ 2) Accelerate development of model bases 2017: Driveline system development/Driveline electronics 3)
Slide 34: 3-2-2) Support for Electrification through AWD System
3-2-2) Support for Electrification 34 through AWD System Promote the support for electrification in the AWD field (E-AWD) steadily that progresses in advance to the changes to the electrification of vehicles (EV) along with the strengthening of our conventional AWD system (thousands of vehicles/year
Slide 35: 3-2-2) Strengthen Hydraulic System
35 3-2-2) Strengthen Hydraulic System Better fuel efficiency/Contribution to the change to EV Mechanical Pump (MOP) Hydraulic systems that meet Hydraulic next-gen. vehicles/units knowledge Utilize Evolution Circuit design Expand utilization fields of ability Electrical Pump (EOP) electrical pump
Slide 36: 3-2-2) Forecast for FY2018 Mid-term Business Plan for Drivelines
3-2-2) Forecast for FY2018 Mid-term Business Plan 36 for Drivelines ¥95/US$, ¥110/€, ¥16/yuan Growing after 2021 Although severe situation would continue ⇒ Huge leap to become between 2016 and 2020, our initial target is a leading company expected to be achieved (billions of yen) Toward 2020 Beyond
Slide 37: 3) Bearings
37 3-2) Strategies of Business Units 3) Bearings * TRB (Tapered Roller Bearing) HUB (Hub Unit)…B-HUB (Ball Hub Unit) NRB (Needle Roller Bearing) SBB (Single Ball Bearing) LFT (Low Friction Torque) EXSEV (EXtreme Special EnViroment) JTEKT Corporation
Slide 38: 3-2-3) Bearing Business Mid-term Management Plan
3-2-3) Bearing Business 38 Mid-term Management Plan Long-term vision for bearing business units Continue creating value, impress customers, and praised by customers — Lift the "Koyo" to be the leader brand in the world — • Become a highly profitable business unit by transitioning Overall from quanti
Slide 39: 3-2-3) Bearing Business Growth Strategy
39 3-2-3) Bearing Business Growth Strategy Transition to a highly profitable business through industry/product strategies and regional strategies Change of competitive Environmental Intense market competition Evolution of technology foundation changes • High-precision machining • Intense cost compet
Slide 40: 3-2-3) Situation of Reforms of Business in Japan
40 3-2-3) Situation of Reforms of Business in Japan Kokubu Plant Kameyama Plant Promote to become a flagship Establish foundation for profits as plant for industrial bearings a global HUB model plant • Streamlining through layout review • Introduce high-speed line, small lot corresponding line, • Im
Slide 41: 3-2-3) Strengthen Productivity/Production Engineering Capability (1)
3-2-3) Strengthen Productivity/ 41 Production Engineering Capability (1) Promote the change to [Install IoE] Actualization of JTEKT made IoE system in JTEKT plants sophisticated plants 1. IoE of Maintenance (Control of life cycles and signs of abnormalities) 1) Install IoE 2. IoE for Quality (Contro
Slide 42: 3-2-3) Strengthen Productivity/Production Engineering Capability (2)
3-2-3) Strengthen Productivity/ 42 Production Engineering Capability (2) Situation of equipment performance and Kaizen plan Low equipment performance due to the aging of equipment has dropped the productivity which is a large factor of the sluggish profitability [Kaizen Plan] For all the equipment i
Slide 43: 3-2-3) Strengthen Sales Power
43 3-2-3) Strengthen Sales Power Sales Trend For IND/AM IND/AM For automobile 2017 sales is expected to be above that of 2015 2015 2016 2017 2018 Sales of bearings for industrial machine/aftermarket bottom out and turned to recovery Business Type Action item until now Future action plan IND Strength
Slide 44: 3-2-3) Growth Scenario: Actualization of Strategies by Business
3-2-3) Growth Scenario 44 Actualization of Strategies by Business ◆ Agricultural/Construction machinery • Extend bearing life For IND/AM under severer operating For automobile conditions Long-life mid/large type TRB ◆ Wind power/Steel • High performance (Long life, low torque, high sealability) • De
Slide 45: 3-2-3) Growth Scenario: Actualization of Strategies by Product (1)
3-2-3) Growth Scenario 45 Actualization of Strategies by Product (1) Sales expansion utilizing JTEKT’s strong points ◆ TRB • Manufacturing reform/optimum specifications for each region • Pursue low torque and compact size High-function TRB (LFT-IV) ◆ NRB • Further advance in long-age engineering • S
Slide 46: 3-2-3) Growth Scenario: Actualization of Strategies by Product (2)
3-2-3) Growth Scenario 46 Actualization of Strategies by Product (2) Accelerate changes to EV/meeting autonomous driving [Required functions] [Accelerate responses to changes] • Engineering that contribute to Reading the future requirements vehicle integrated control of customers and automobile • Hi
Slide 47: 3-2-3) Forecast for FY2018 Mid-term Business Plan for Bearing
3-2-3) Forecast for FY2018 Mid-term Business Plan 47 for Bearing FY2018 Sales and Profit Forecast ¥95/US$, ¥110/€, ¥16/yuan Revise the initial target due to environmental changes, etc. <Actualization of strategies by business/product> <Priority Tasks and Corresponding Actions> Accumulate profits by
Slide 48: JTEKT Koyo Key of your operation
JTEKT 4 Koyo 4 Key of your operation JTEKT Corporation
Slide 49: 4) Machine Tools & Mechatronics
49 3-2) Strategies of Business Units 4) Machine Tools & Mechatronics JTEKT Corporation
Slide 50: 3-2-4) Machine Tools & Mechatronics Business Mid-term Management Plan
3-2-4) Machine Tools & Mechatronics Business 50 Mid-term Management Plan • True total production line builder trusted by customers • Provide value in all phases of Monozukuri Ideal • Grinders: More solid and become global No. 1 in special grinders Strengthen • Machining centers: Focus on mid/large-s
Slide 51: 3-2-4) Machine Tools & Mechatronics Business Growth Strategy
51 3-2-4) Machine Tools & Mechatronics Business Growth Strategy Establish position as a total production line builder by utilizing IoE that can provide values in all phases of Monozukuri Intense market competition/ Evolution of technology Environmental Changes in competitive foundation changes • Int
Slide 52: 3-2-4) Progress in Mid-term Management Plan (1)
3-2-4) Progress in 52 Mid-term Management Plan (1) Shifting resources to grinders/control system businesses (JTEKT Corp. ) Non-consolidated 100% 他 Others Competitive grinders Strengthen profitability 80% Profitable control systems through shifting resources 切削 Cutting 60% 制御 Control • Shifting resou
Slide 53: 3-2-4) Progress in Mid-term Management Plan (2)
3-2-4) Progress in 53 Mid-term Management Plan (2) Break-even point trend (JTEKT Corp.) (Index) 100 80 60 40 20 Trend when “2015 1H = 100” 0 15上 15 1H 下 2H 16上 16 1H 下 2H 17上 17 1H Proceed the strengthening of business base that follows the mid-term plan, and promote the improvement of business stru
Slide 54: 3-2-4) Responding to Electrification
54 3-2-4) Responding to Electrification Meeting gasoline engine downsizing (HV/PHV) • Support TNGA engines (Delivered to Japan/overseas, continue until 2018) ■ e300G • Delivered e300G (Grinder for turbo shafts) Support changes to EV • Delivered equipment for lithium battery (For mass production) • K
Slide 55: 3-2-4) Next Pillar: Actions for IoE
55 3-2-4) Next Pillar: Actions for IoE IoE: Internet of Everything ● JTEKT’s “IoE solution” that makes the present equipment smarter through four steps We have equipment Cannot read/take out We want more effects Cannot analyze made by different manufactures equipment data so we cannot connect them C
Slide 56: 3-2-4) Strengthen Cooperation with Group Companies
3-2-4) Strengthen Cooperation with 56 Group Companies ■ Support customers’ plants using unique engineering of our group companies Heat Quality Forming Cutting treatment Grinding Assembly inspection • JTEKT • KMI • KMI - Machining centers, grinders, - Assembly machines, - Inspection systems special p
Slide 57: 3-2-4) Strengthen Cooperation with Group Companies
3-2-4) Strengthen Cooperation with 57 Group Companies ◆ Consolidated sales status ◆ Engineering for different industries (1) Automotive, Industrial machines • Crank/Cam shafts grinding • Cylinder block/head cutting JTEKT • Transfer (CNK) 34 % • Water pump components 2017 surface improvement (CNK) (A
Slide 58: 3-2-4) Strengthen Cooperation with Group Companies
3-2-4) Strengthen Cooperation with 58 Group Companies ◆ Engineering for different industries (2) Semi-conductors • Wafer grinding (KMI) ■ Wafer grinder • Heat treatment (Koyo Thermo Systems) (Clean heating for OEL, etc.) Dies Others • Precision cutting (Mitsui Seiki) • Hydraulic vibration control (T
Slide 59: 3-2-4) Forecast for FY2018 Mid-term Business Plan for Machine Tools & Mechatronics
3-2-4) Forecast for FY2018 Mid-term Business Plan 59 for Machine Tools & Mechatronics FY2018 Sales and Profit Forecast ¥95/US$, ¥110/€, ¥16/yuan Promotion of business structure revolution (billions of yen) 200 180 売上 Sales 180 160 155 利益率 Profit (%) 140 10% 120 100 80 60 5% 40 20 0 0% 2016 2017 2018
Slide 60: 1) Reviews
60 3-3) Summary 1) Reviews JTEKT Corporation
Slide 61: 3-3-1) Review – Profit & Loss Trend (Management rate)
61 3-3-1) Review – Profit & Loss Trend (Management rate) Business structure was improving until FY2016 except for the foreign exchange rate, but FY2017 profit is expected to decrease because of (1)JTEKT Profitability falling, (2) Launch Rack assist EPS in North America, (3) Upfront investment for th
Slide 62: 3-3-1) Actions to reduce Interest-Bearing Debt
62 3-3-1) Actions to reduce Interest-Bearing Debt Aggressive management through creating funds from B/S streamlining Interest-bearing debt (billions of yen) Strategic funds/Special funds • Acquire additional shares of SKSSL 15 billion yen 187.1 • Acquire additional shares of FKK 20 billion yen 245.7
Slide 63: 3-3-1) Review - Management Index (Consolidated)
63 3-3-1) Review - Management Index (Consolidated) The demands of special funds in FY2017 increased the interest-bearing debts (billions of yen) (billions of yen) Inventory Interest-bearing debt Inventory Interest-bearing debt Inventory turnover month D/E ratio 1.6 0.62 1.5 1.4 1.4 0.48 0.42 0.38 0.
Slide 64: 2) Actions for Developing Corporate Value
64 3-3) Summary 2) Actions for Developing Corporate Value JTEKT Corporation
Slide 65: 3-3-2) Management Model
65 3-3-2) Management Model Created a model to actually practice the enhancement of corporate values steadily Management Model • Share our ideal and take actions Corporate Philosophy based on the common values Growth strategy (Mid-term Management Plan) • Actions to actualize the growth Changes in the
Slide 66: 3-3-2) Strengthen Policy Management
66 3-3-2) Strengthen Policy Management To Actualize growth strategies (Mid-term plan), Growth strategies (Mid-term management plan) incorporate the policy management down to the priority themes of individual level HQ policy Dept. policy Communicate Dept. (Actions and targets) (Make adjustment) Contr
Slide 67: 3-3-2) Strengthening Fundamental (Corporate Fundamental)
67 3-3-2) Strengthening Fundamental (Corporate Fundamental) Proceed strengthening of the fundamental to support and extend the growth strategies Familiarization of JTEKT WAY Familiarization of OP reform of indirect depts. Actions for advanced IT basic concept Promotion of TQM Promotion of JPS Proble
Slide 68: 3-3-2) Operational Reform of Indirect Departments
68 3-3-2) Operational Reform of Indirect Departments Objective • Upgrade the standardization of daily work among all the indirect departments of the JTEKT Groups to actualize small headquarters/small indirect departments. • Enrich total power of the JTEKT Group by supporting work style reform of ind
Slide 69: 3-3-2) Proceed IT Sophistication
69 3-3-2) Proceed IT Sophistication Proceed the thorough introduction of IT from mid/long-term perspectives Strengthen competitiveness based on mid/long- term perspectives Steering Bearings Machine tools Improve decision-making speed Drivelines systems & Mechatronics Policy management (1) Global par
Slide 70: 3-3-2) Strengthen Risk Management
70 3-3-2) Strengthen Risk Management Share and handle major risk information appropriately and adequately to establish the structure/systems to strengthen fundamental (Corporate fundamental) [Changes in external environment] • Higher demand for ESG (Environment, [Conventional risk management] Social
Slide 71: Thank you!
71 Thank you! JTEKT Corporation
Slide 72: (Reference) Quarterly Result Trend
72 (Reference) Quarterly Result Trend (billions of yen) Operating profit rate 7.4 % 5.5 % 5.8 % 5.8 % 5.5 % 5.4 % 4.7 % 4.8 % 349.9 354.1 346.5 338.9 335.7 321.3 318.9 323.8 26.2 Sales 20.4 18.5 18.6 19.0 17.2 15.3 16.1 Operating profit FY2014*1 FY2015*2 FY2016 1Q 2Q 3Q 4Q FY2017 1Q 2Q USD JPY110 JP
Slide 73: (Reference) Sales Forecast by Business Units
73 (Reference) Sales Forecast by Business Units JTEKT Corporation
Slide 74: (Reference) Sales Forecast by Company Locations
74 (Reference) Sales Forecast by Company Locations JTEKT Corporation
Slide 75: (Reference) Financial Results by Business (Mechanical Components)
(Reference) Financial Results by Business 75 (Mechanical Components) Sales Quarterly Trend OP Quarterly Trend OP Profit OP Profit (%) 7.4 % STG DL BRG 5.3 % 5.8 % 5.7 % 5.1 % 5.1 % 306.8 4.9 % 23.2 4.8 % 299.4 289.9 292.9 311.9 300.6 279.8 281.3 100.6 93.6 103.9 101.6 103.2 17.8 95.1 96.0 94.1 16.3
Slide 76: (Reference) Financial Results by Business (Machine Tools & Others)
(Reference) Financial Results by Business 76 (Machine Tools & Others) Sales Quarterly Trend OP Quarterly Trend OP Profit OP Profit (%) MT & M Others 7.7 % 8.1 % 7.1 % 6.9 % 39.5 41.2 42.5 6.6 % 3.0 37.6 39.7 2.9 0.6 7.9 % 4.6 % 31.3 0.4 30.8 35.0 0.3 0.2 1.0 0.3 2.9 % 33 3.2 2.8 2.9 2.7 38.1 41.9 39
Slide 77: (Reference) Financial Results by Region (Japan)
77 (Reference) Financial Results by Region (Japan) Quarterly Trend (billions of yen) Operating profit rate 6.3 % 5.1 % 6.0 % 3.3 % 3.3 % 2.7 % 5.1 % 2.0 % 139.8 139.9 142.4 146.5 142.5 125.8 134.4 131.8 Sales 8.2 9.1 7.2 7.3 Operating 4.6 4.4 3.5 profit 2.5 FY2014 FY2015 FY2016 1Q 2Q 3Q 4Q FY2017 1Q
Slide 78: (Reference) Financial Results by Region (Europe)
78 (Reference) Financial Results by Region (Europe) Quarterly Trend 5.3 % (billions of yen) Operating profit rate 2.9 % 2.7 % 2.7 % 2.3 % 0.6 % 2.3 % 1.9 % 52.8 52.7 53.6 52.1 51.8 48.5 42.6 45.2 Sales 2.8 1.2 1.0 1.5 1.1 1.2 1.1 0.3 Operating profit FY2014 FY2015 FY2016 1Q 2Q 3Q 4Q FY2017 1Q 2Q JTE
Slide 79: (Reference) Financial Results by Region (North America)
(Reference) Financial Results by Region 79 (North America) Quarterly Trend Operating profit rate 6.4 % 5.6 % (billions of yen) 3.4 % 3.5 % 3.7 % 3.8 % 4.6 % 1.4 % 82.1 75.7 76.2 74.0 76.3 68.8 70.5 69.1 Sales 4.7 3.8 4.2 2.8 2.4 2.8 2.3 Operating profit 1.0 FY2014 FY2015 FY2016 1Q 2Q 3Q 4Q FY2017 1Q
Slide 80: (Reference) Financial Results by Region (Asia/Oceania (Including India))
(Reference) Financial Results by Region 80 (Asia/Oceania (Including India) Quarterly Trend (billions of yen) 11.1 % Operating profit rate 9.3 % 9.8 % 8.5 % 9.1 % 8.7 % 9.3 % 8.3 % 43.7 39.2 37.3 38.8 32.6 31.9 33.8 31.8 Sales 4.3 4.3 3.6 3.1 2.7 2.9 2.9 2.9 Operating profit FY2014 FY2015 FY2016 1Q 2
Slide 81: (Reference) Financial Results by Region (China)
81 (Reference) Financial Results by Region (China) Quarterly Trend (billions of yen) 16.9 % 18.0 % 16.6 % 15.3 % 15.6 % Operating profit rate 12.5 % 12.0 % 14.2 % 36.1 34.3 34.8 35.2 32.5 29.4 27.7 25.2 6.1 5.3 5.5 Sales 4.6 4.9 4.6 4.5 3.0 Operating profit FY2014 FY2015 FY2016 1Q 2Q 3Q 4Q FY2017 1Q
Slide 82: (Reference) Financial Results by Region (South America & Others)
(Reference) Financial Results by Region 82 (South America & Others) (billions of yen) Quarterly Trend 8.8 % 8.2 % 5.3 % 3.8 % 5.3 % Operating profit rate 3.3 % 6.8 7.3 (2.4 %) 6.6 6.0 (3.8 %) 5.2 5.3 5.3 5.4 Sales 0.6 0.6 0.3 Operating 0.2 0.2 profit 0.1 (0.1) (0.2) FY2014 FY2015 FY2016 1Q 2Q 3Q 4Q