JTEKT Corporation · TSE:6473
JTEKT — Q1 FY2021 Earnings Presentation
34 slides from JTEKT's earnings presentation, Aug 2, 2021
Slide 1: IR Presentation for the First Quarter of Fiscal Year Ending March 2022
IR Presentation for the First Quarter of Fiscal Year Ending March 2022 August 2, 2021 1 JTEKT CORPORATION
Slide 2: Financial points
Financial points 1. Sales revenue increased in all regions and businesses, supported by a recovery in automobile production, despite the impact of semiconductor shortages and other factors, resulting in an overall increase of 76.2% year on year. Business profit increased by 38.8 billion yen year-on-
Slide 3: Results for the First Quarter of Fiscal Year Ending March 2022
１．Results for the First Quarter of Fiscal Year Ending March 2022 P４ ２．Forecasts for Fiscal Year 2021, Ending March 2022 P１０ ３．Appendix P１６ ３-１．Management indicators P１６ ３-２．Changes in fixed costs P１８ ３-３．Financial statements P１９ ３-４．Quarterly Result Trend（by Region / Business ） P２１ ３-５．Business Prof
Slide 4: 1-1) Consolidated Performance
1-1）Consolidated Performance Sales increased in all businesses and regions due to the recovery in automobile production. business structure is steadily improving due to the effects of cost improvement and fixed cost reduction despite of material cost hike and transport cost. ( ):Ratio to Revenue
Slide 5: 1-2) Quarterly Result Trend
1-2）Quarterly Result Trend Sales in the first quarter of 2021 did not recover to the results of the first quarter of 2019 due to the impact of semiconductor shortages. Despite deteriorating profitability in North America, the Company's business structure is steadily improving due to the effects
Slide 6: 1-3) Business Profit Analysis
1-3）Business Profit Analysis Unit：billion of yen Earning structure ＋3.4 Material ▲1.1 Purchase price +0.6 Productivity improvement +3.6 Labor cost ＋2.5 R & D expenses ＋0.7 other expenses +1.5 6 JTEKT CORPORATION
Slide 7: 1-4) Results by Region
1-4）Results by Region Sales revenue Business profit Unit：billion of yen [Rate of change] FY20 1Q FY21 1Q Unit：billion of yen (Ratio to Revenue) FY20 1Q FY21 1Q Currency Currency Increase / Increase / decrease difference difference decrease Japan - ＋47.0 ＋51.3% Japan ＋0.9 ＋22.4 Europe ▲0.2 ＋3.4 ＋47.0
Slide 8: 1-5) Result by Business
1-5）Result by Business Sales revenue Business profit Unit：billion of yen [Rate of change] FY20 1Q FY21 1Q Unit：billion of yen (Ratio to Revenue) FY20 1Q FY21 1Q ＋82.5 Currency Increase / Currency difference Increase / decrease [＋93.6%] difference decrease Steering ＋0.6 ＋15.5 Steering ＋8.9 ＋73.5 ＋83.
Slide 9: Results for the First Quarter of Fiscal Year Ending March 2022
１．Results for the First Quarter of Fiscal Year Ending March 2022 P４ ２．Forecasts for Fiscal Year 2021, Ending March 2022 P１０ ３．Appendix P１６ ３-１．Management indicators P１６ ３-２．Changes in fixed costs P１８ ３-３．Financial statements P１９ ３-４．Quarterly Result Trend（by Region / Business ） P２１ ３-５．Business Prof
Slide 10: 2-1) Forecasts for Fiscal Year Ending March 2022
2-1）Forecasts for Fiscal Year Ending March 2022 Although the market environment was on a recovery trend, sales revenue remains unchanged due to uncertainties such as semiconductor shortages and the spread of COVID-19. Revised profits upward at each stage to reflect the upside factors such as cos
Slide 11: 2-2) Forecasts - Business profit Analysis
2-2） Forecasts － Business profit Analysis Unit：billion of yen ( )：Increase / decrease in the previous forecast Implementation of medium- term management plan measures 45.0 (▲10.5) 1Q (▲9.5) (▲9.0) (▲1.0) previous Cost forecast (＋1.1) Increase (39.0) total ▲14.7 (▲20.0) 11 JTEKT CORPORATION
Slide 12: 2-3) Forecasts - by Region
2-3） Forecasts － by Region Sales revenue Business profit Unit：billions of yen [Rate of change] 21/3 22/3 Unit：billions of yen (Ratio to Revenue) 21/3 22/3 Currency Increase / Currency difference decrease Increase / decrease difference Japan ＋3.0 ＋11.7 Japan - ＋31.2 ＋5.8% ＋31.2 Europe ▲0.0 ＋3.7 [＋5.8
Slide 13: 2-4) Forecasts - by Business
2-4） Forecasts － by Business Sales revenue Business profit Unit：billions of yen [Rate of change] 21/3 22/3 Unit：billions of yen (Ratio to Revenue) 21/3 22/3 Currency Currency Increase / Increase / decrease difference difference decrease ＋87.6 Steering ＋9.9 ＋77.6 ＋12.8% Steering ＋2.0 ＋4.9 [＋14.4%] Dr
Slide 14: 2-5) Forecasts - by Business (first half - second half)
2-5） Forecasts － by Business （first half － second half) Sales revenue Business profit Unit：billions of yen [Rate of change] first half second half Unit：billions of yen (Ratio to Revenue) first half second half ＋19.0 [＋5.6%] 357.0 ＋10.0 338.0 ＋4.0 13.0 ＋13.0 (3.6%) ▲1.0 [＋9.0%] 10.5 [▲0.8%] (6.6%) +3
Slide 15: Results for the First Quarter of Fiscal Year Ending March 2022
１．Results for the First Quarter of Fiscal Year Ending March 2022 P４ ２．Forecasts for Fiscal Year 2021, Ending March 2022 P１０ ３．Appendix P１６ ３-１．Management indicators P１６ ３-２．Changes in fixed costs P１８ ３-３．Financial statements P１９ ３-４．Quarterly Result Trend（by Region / Business ） P２１ ３-５．Business Prof
Slide 16: 3-1) Inventories / Interest-bearing debt / Cash reserves
3-1）Inventories／Interest-bearing debt・Cash reserves Inventories Interest-bearing debt・Cash reserves Inventory turnover month Left bar Interest-bearing debt NET DE ratio Right bar Cash reserves 1.8 0.38 1.4 1.4 1.6 1.6 0.29 0.29 0.30 Unit：billion of yen 0.22 190.8 192.7 Unit：billion of yen 328.1 183.
Slide 17: 3-1) Cash flows / ROE / ROA
3-1）Cash flows／ROE・ROA Cash flows ROE・ROA Upper row Sales C/F Unit：billion of yen FreeC/F ROE ROA Lower row Investment C/F 39.2 27.6 43.4 0.9 9.7 100.0 103.0 ▲29.4 91.7 62.3 32.3 4.6 4.2 3.7 1.9 1.6 10.1 ▲0.3 0.2 0.1 ▲52.5 ▲0.7 Positive investment ▲75.3 cash flow due to sale ▲99.0 ▲91.7 of strategic
Slide 18: 3-2) Changes in fixed costs
3-2）Changes in fixed costs Depreciation and Research and Capital expenditures amortization development expenses Upper row July - March Unit：billion of yen Unit：billion of yen Ratio to Revenue Unit：billion of yen Lower row April - June 4.6% 4.2% 4.2% 3.9% 3.8% 75.2 75.0 66.6 64.3 64.6 63.0 64.0 60.4
Slide 19: 3-3) Consolidated Statements of Financial Position
3-3）Consolidated Statements of Financial Position Assets Liabilities and equity Unit：billion of yen Unit：billion of yen Increase / Liabilities and Increase / Assets 21/3 21/6 21/3 21/6 decrease decrease equity Cash and cash Trade and other 118.6 156.7 +38.1 286.6 298.5 +11.9 equivalents payables Tra
Slide 20: 3-3) Consolidated Statements of Income / Cash flow statement
3-3）Consolidated Statements of Income ／ Consolidated cash flow statement Consolidated Statements of Income Consolidated cash flow statement Unit：billion Unit：billion of of yen yen Unit：billion of yen Increase / Increase / 20/6 21/6 decrease 20/6 21/6 decrease Sales revenue 195.3 344.1 +148.8 Cash fl
Slide 21: 3-4) Quarterly Result Trend - Japan
3-4）Quarterly Result Trend－Japan Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 7.3% 153.4 153.1 4.5% 1.7% 11.1 2.2% 139.4 138.7 6.9 2.4 3.0 91.6 ▲22.1% ▲20.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2020 FY2021 21 JTEKT CORPORATION
Slide 22: 3-4) Quarterly Result Trend - Europe
3-4）Quarterly Result Trend－Europe Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 0.9% ▲2.0% ▲4.0% ▲4.4% 0.4 46.3 46.1 42.8 39.4 ▲0.9 ▲1.5 ▲1.8 18.9 ▲5.1 ▲27.0% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2020 FY2021 22 JTEKT CORPORATION
Slide 23: 3-4) Quarterly Result Trend - North America
3-4）Quarterly Result Trend－North America Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 3.5% 3.2% 73.3 1.1% 68.4 68.5 70.2 2.3 2.2 ▲0.6% 0.7 ▲0.4 32.1 ▲20.2% ▲6.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2020 FY2021 23 JTEKT CORPORATIO
Slide 24: 3-4) Quarterly Result Trend - China
3-4）Quarterly Result Trend－China Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 10.4% 9.5% 9.3% 9.3% 45.7 7.2% 43.7 39.6 37.2 38.1 4.7 4.0 3.7 3.4 2.7 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2020 FY2021 24 JTEKT CORPORATION
Slide 25: 3-4) Quarterly Result Trend - Asia & Others
3-4）Quarterly Result Trend－Asia & Others Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 12.7% 10.4% 8.7% 5.8% 6.9 5.1 54.9 3.9 49.1 45.4 2.1 37.9 15.2 ▲3.4 ▲22.9% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2020 FY2021 25 JTEKT CORPORATIO
Slide 26: 3-4) Quarterly Result Trend - Automotive
3-4）Quarterly Result Trend－Automotive (Steering＋Drivelines、including Hub unit) Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 255.4 246.7 237.3 5.3% 6.3% 219.8 1.8% 2.6% 15.4 13.5 5.6 4.2 122.5 ▲21.3 ▲17.4% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2
Slide 27: 3-4) Quarterly Result Trend - Industrial & Bearings Business
3-4）Quarterly Result Trend－Industrial & Bearings Business (Hub unit not included） Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 6.3% 5.1% 3.5% 5.0 79.7 77.3 ▲1.3% 3.9 75.1 2.6 69.7 46.6 ▲0.8 ▲16.3% ▲7.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020
Slide 28: 3-4) Quarterly Result Trend - Machine tools and others
3-4）Quarterly Result Trend－Machine tools and others Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 4.7% 4.9% 35.2 36.2 1.6 1.7 1.7% 32.6 29.3 0.6% 26.0 0.4 0.1 ▲5.6% ▲1.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2020 FY2021 28 JTEKT CO
Slide 29: 3-4) Quarterly Result Trend - Steering
3-4）Quarterly Result Trend－Steering Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 6.4% 4.6% 2.2% 1.1% 183.8 11.3 177.7 170.6 8.5 157.5 3.4 1.9 88.1 ▲16.2% ▲14.2 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2020 FY2021 29 JTEKT CORPORATION
Slide 30: 3-4) Quarterly Result Trend - Drivelines
3-4）Quarterly Result Trend－Drivelines （Including Hub unit) Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 7.1% 6.0% 3.6% 3.5% 5.0 71.6 4.1 68.9 66.7 62.2 2.2 2.3 34.4 ▲20.4% ▲7.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2020 FY2021 30
Slide 31: 3-4) Quarterly Result Trend - Machine tools
3-4）Quarterly Result Trend－Machine tools (Others excluded) Sales revenue Business profit Unit：billion of yen Unit：billion of yen ● Ratio to Revenue 6.3% 5.3% 34.7 35.5 32.4 2.2 29.2 1.8 2.7% 25.6 1.3% 0.7 0.4 ▲3.8% ▲0.9 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2020 FY2021 FY2020 FY2021 31 J
Slide 32: 3-5) Business profit Analysis - Steering / Drivelines
3-5） Business profit Analysis－Steering／Drivelines Unit：billion of yen Earning structure ▲0.6 Steering Unit：billion of yen Earning structure ＋0.4 ※Including Hub unit ▲0.9 Drivelines ▲0.0 ※ ※ 32 JTEKT CORPORATION
Slide 33: 3-5) Business profit Analysis - Bearing / Machine tools
3-5） Business profit Analysis － Bearing／Machine tools Mechatronics Business Units Earning structure ＋1.4 Unit：billion of yen ※Hub unit not included Bearing ※ Unit：billion of yen ※Other products not included Earning structure ＋1.2 Mechatronics Business Units Machine tools ＋0.4 ＋0.1 ※ 33 JTEKT CORPORA
Slide 34: 3-6) Return to Shareholders
3-6） Return to Shareholders Dividend payout ratio (%) 61.2 685.2 41.1 39.5 13.50 17.7 26.9 26.3 27.4 29.6 30.3 29.7 26.1 Shareholders - - - Return to 30% 42 42 43 44 Upper row Year-end dividend Unit：yen per share 38 Lower row Interim dividend 34 24 21 21 22 22 16 19 17 18 20 16 16 16 16 16 13 11 10