JTEKT Corporation · TSE:6473
JTEKT — FY2011 Earnings Presentation
23 slides from JTEKT's earnings presentation, May 22, 2012
Slide 1: Presentation for Fiscal Year Ending March 2012
1 Presentation for Fiscal Year Ending March 2012 May 22,2012 JTEKT Corporation JTEKT Corporation
Slide 2: Results for Fiscal 2011; Forecasts for Fiscal 2012
2 1. Results for Fiscal 2011 2.Forecasts for Fiscal 2012 JTEKT Corporation
Slide 3: 1-1) Fiscal Data
3 1-1) Fiscal Data 1.Profit decreased due to “sales price down”,“strong yen”,etc, though sales increased due to “Automotive sales increase” , “Fiscal year unification of subsidiaries”,etc. 2.Interim Dividend:7yen, Annual Dividend:16yen Same as last fiscal year JTEKT Corporation
Slide 4: 1-2) Financial Data (i)
4 1-2) Financial Data (i) Profit decreased due to “sales price down”,“strong yen”,etc,though sales increased due to “Automotive sales increase”,etc. (100 million Yen) Increse FY Real Increase FY 2010 FY 2011 /Decrease /Decrease Unification Net Sales 9,554 10,526 ＋972 ＋627 ＋344 Operating Income (4.2%
Slide 5: 1-2) Financial Data (ii)
5 1-2) Financial Data (ii) (100 million yen) Increase Increase FY2010 FY2011 /Decrease(%) /Decrease Inventries 1,309 1,545 ＋236 ＋18.0% Interest- Bearing Debt 2,060 2,551 ＋490 ＋23.8% Capital Expenditures 308 658 ＋350 ＋113.5% Depreciation 486 467 △19 △3.9% JTEKT Corporation
Slide 6: 1-3) Quarter Trend
6 1-3) Quarter Trend (100 million yen) Profit Profit dropped dropped due due to to Earthquake Earthquake and and Flood. Flood. Recovered Recovered on on 4Q 4Q Operating income rate 5.4% 5.0% 4.2% 4.0% 3.0% 3.3% 2.7% 1.8% 2,639 2,421 2,485 2,249 2,275 2,325 2,347 2,143 Sales 123 124 101 98 78 911 67
Slide 7: 1-4) Financial Result by product
7 1-4) Financial Result by product (100 million yen) Real increase FY FY2010 FY2011 Increase /Decrease Unification /Decrease Steering 3,874 4,437 ＋562 ＋433 ＋129 M echanical Components Systems Net Sales Bearings Net Sales 3,168 3,391 ＋222 ＋72 ＋150 Driveline Components Net Sales 1,246 1,199 △47 ＋22 △7
Slide 8: 1-5) Financial Result by product - Quarter Trend
8 1-5) Financial Result by product - Quarter Trend Mechanical Mechanical Components Components (100 million Yen) 4.3% 4.8% 3.8% 3.0% 3.7% 2.9% 2.1% Operating Income Rate 0.9% 2,010 2,102 2,130 2,012 2,254 1,958 1,936 1,818 75 90 93 82 812 57 65 283 29 38 18 25 Sales Operating Income 1Q'10 2Q'10 3Q'1
Slide 9: 1-6) Net Sales by product - Quarter Trend
9 1-6) Net Sales by product - Quarter Trend Steering Steering Systems Systems FY unification Bearings Bearings (100 million yen) 3,874 ＋14.5% 4,437 1,635 3,169 ＋7.0% 3,391 514 1,054 965 991 1,007 995 961 891 832 911 846 740 784 754 735 770 239 166 81 1,120 926 725 815 1Q'10 2Q 3Q 4Q 1Q'11 2Q 3Q 4Q 1
Slide 10: 1-7) Financial Result by Region (i)
10 1-7) Financial Result by Region (i) (100 million yen) Increase FY Real Increase FY2010 FY2011 /Decrease /Decrease Unification Net Sales 5,001 5,221 ＋220 △14 ＋234 Japan △12 ＋0 △13 Operating income 182 170 Net Sales 1,430 1,698 ＋268 ＋279 △11 Europe △14 △33 △18 ＋6 △24 Operating income North Net Sale
Slide 11: 1-7) Financial Result by Region (ii)
11 1-7) Financial Result by Region (ii) (100 million yen) Increase FY Real Increase FY2010 FY2011 /Decrease Unification /Decrease Net Sales 1,068 1,010 △58 △116 ＋58 Asia・・ Oceania △41 △17 △24 Operating income 145 103 Net Sales 432 563 ＋130 ＋110 ＋20 China △1 ＋10 △11 Operating income 71 70 Other Net S
Slide 12: 1-8) Financial Result by Region - Quarter Trend (i)
12 1-8) Financial Result by Region- Quarter Trend (i) Japan Japan (100 million yen) 5.1% 4.3% 3.6% 3.6% 3.4% 3.4% 2.3% 1.5% Operating income rate 1,501 1,307 1,270 1,236 1,359 1,356 1,173 1,004 75 Sales 44 54 45 49 40 30 15 Operating 15 income △1 △0 1Q'10 2Q 3Q 4Q FY unification 1Q'11 2Q 3Q 4Q FY un
Slide 13: 1-8) Financial Result by Region - Quarter Trend (ii)
13 1-8) Financial Result by Region- Quarter Trend (ii) North North America America 2.6% 2.5% 2.8% (100 million yen) 1.8% △0.9% △0.9% △0.9% △2.5% 348 368 331 350 369 328 338 393 391 8 10 9 64 3 7 6 △9 △3 △3 △3 1Q'10 2Q 3Q 4Q FY 1Q'11 2Q 3Q 4Q FY unification unification impact impact Asia ・・Oceania As
Slide 14: 1-8) Financial Result by Region - Quarter Trend (iii)
14 1-8) Financial Result by Region- Quarter Trend (iii) China China (100 million yen) 17.7% 18.1% 18.3% 16.6% 13.3% 14.9% 12.7% 9.6% 105 18 110 20 98 115 109 120 120 114 99 18 15 18 15 15 11 10 4 0 1Q'10 2Q 3Q 4Q FY 1Q'11 2Q 3Q 4Q FY unification unification impact impact Other(South&Central Other(So
Slide 15: 1-9) Operating Income Change Analysis
15 1-9) Operating Income Change Analysis Down 42 Billion yen (100 million yen) ＋73 ＋5 △69 ＋134 399 356 △155 △10 △20 Exclude foreign exchange impact FY2010 FY2011 Foreign Fall in selling Rise in raw Others Income rise FY Unification in sales growth Cost cutting material price price Level exchange Imp
Slide 16: 1-10) Dividends
16 1-10) Dividends (yen per share) Interim Interim Dividend：7yen Dividend：7yen Annual Annual Dividend：16yen Dividend：16yen 24yen Annual Dividend (17.7%) (Dividend Payout Ratio) 19yen (13.5%) 17yen 16yen 16yen (―) 13 (26.9%) (41.1%) 11yen 10 6 (―) Year-end 9 9 6 9 11 11 Interim 5 7 7 FY2006 FY2007 FY
Slide 17: Forecasts for FY 2012
17 １. Results for Fiscal 2011 2. Forecasts for FY 2012 JTEKT Corporation
Slide 18: 2-1) External Environment
18 2-1) External Environment Uncertainty in Global Economy due to Sovereign-debt crisis in Europe ,Economy Slow Down in Emerging Market , Oil Price surge , etc. Concern in Business Environment due to Long Lasting Strong Yen , Lack of Electricity Supply . JTEKT Corporation
Slide 19: 2-2) Financial Data
19 2-2) Financial Data Increase in Sales & Income (100 million yen) FY2011 FY2012 Increase FY Real Increase /Decrease /Decrease Unification Net Sales 10,526 11,000 ＋473 △911 ＋1,384 Operating Income (3.4%) 356 (4.1%) 450 ＋93 △34 ＋128 Ordinary Income (3.7%) 386 (3.9%) 430 ＋43 △36 ＋79 Net Income (1.3%)
Slide 20: 2-3) Net Sales by Product
20 2-3) Net Sales by Product (100 million yen) Increase FY Real Increase FY2011 FY2012 /Decrease Unification /Decrease Steering 4,437 4,750 ＋312 △514 ＋826 Mechanical Components Systems Bearings 3,391 3,610 ＋218 △239 ＋457 Driveline Components 1,199 1,140 △59 △59 ＋0 Total 9,027 9,500 ＋472 △812 ＋1,284
Slide 21: 2-4) Net Sales by Region
21 2-4) Net Sales by Region (100 million yen) Increase FY Real Increase FY2011 FY2012 /Decrease /Decrease Unification Japan 5,220 5,975 ＋754 ― ＋754 Europe 1,698 1,430 △268 △324 ＋55 North America 1,821 1,560 △260 △392 ＋131 ・ Oceania Asia・ 1,010 1,210 ＋200 △39 ＋239 China 563 645 ＋82 △114 ＋196 Other 21
Slide 22: 2-5) Operating Income change Analysis
22 2-5) Operating Income change Analysis Up 93 Billion yen (100 million yen) ＋82 ＋220 △30 450 356 △120 △25 Exclude foreign △34 exchange impact FY2011 FY2012 Foreign Fall in selling Rise in raw FY unification Income rise Cost cutting in sales growth material price price level exchange impact JTEKT Co
Slide 23: 2-6) Capital Expenditure, R&D cost
23 2-6) Capital Expenditure , R&D cost (100 million yen) For Future Growth , Invest with Business Strategies Capital Capital Expenditure Expenditure // Depreciation Depreciation R&D R&D cost cost Capital Expenditure Depreciation R&D cost R&D cost/Sales Ratio 3.6% 3.3% 3.3% 3.2% 2.9% 2.9% 2.7% 558 51