Daifuku Co., Ltd. · TSE:6383
Daifuku — FY2020 Earnings Presentation
27 slides from Daifuku's earnings presentation, May 11, 2021
Slide 1: Consolidated Financial Results, Fiscal Year Ended March 31, 2021
Consolidated Financial Results The Fiscal Year Ended March 31, 2021 (April 1, 2020 - March 31, 2021) May 11, 2021 DAIFUKU CO., LTD.
Slide 2: Contents
Contents 1 Financial Highlights p. 2 Earnings Forecast p. 15 Medium-Term Business Plan p. 20 © 2021 Daifuku Co., Ltd.
Slide 3: Financial Highlights
2 Back to contents Financial Highlights © 2021 Daifuku Co., Ltd.
Slide 4: Fiscal 2020 Highlights (April 1, 2020 – March 31, 2021)
Fiscal 2020 Highlights (April 1, 2020 – March 31, 2021) 3 (Billion yen) FY2020 Achievement ratio ✓ Orders mainly reflected delays in FY2019 initial plan FY2020 Y/Y change Y/Y rate to initial plan business negotiations due to restrictions on both Orders 483.1 480.0 451.0 -32.1 -6.6％ 94.0% internation
Slide 5: Increases and Decreases in Operating Income
Increases and Decreases in Operating Income 4 (Billion yen) [Reference] Effect of exchange Sales: -6.6 billion yen Decrease in gross Decrease in SG&A Effect of exchange Increase in sales margin ratio expenses rate changes 1.2 -0.3 -3.8 7.1 Exchange rate FY2019 FY2020 US dollar 109.25 yen 106.44 yen
Slide 6: Results by Reportable Segment
Results by Reportable Segment 5 (Billion yen) Orders Net sales Segment income ✓ Daifuku: (Net income attributable to shareholders (Orders from outside customers) (Sales to outside customers) of the parent company) Orders were sluggish in FY2019 FY2020 Y/Y FY2019 FY2020 Y/Y FY2019 FY2020 Y/Y automoti
Slide 7: Consolidated Balance Sheets
Consolidated Balance Sheets 6 (Billion yen) FY2019 FY2020 Change FY2019 FY2020 Change ✓ Assets: Increased ¥34.5 billion Current assets 319.6 350.6 +30.9 Current liabilities 138.6 149.1 +10.4 Cash on hand and [Factors] Notes and accounts in banks 70.9 94.1 +23.2 payable 69.0 62.9 -6.1 Increase: ¥23.2
Slide 8: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows 7 (Billion yen) ✓ Cash provided by operating FY2019 FY2020 Y/Y change activities: ¥38.2 billion [Factors] Cash flows from operating activities 13.7 38.2 +24.5 Income before income taxes and non-controlling interests: ¥45.1 Cash flows from investing activities -1
Slide 9: Orders and Sales by Industry
Orders and Sales by Industry 8 (Billion yen) Orders Sales ✓ Automobile, auto parts: FY2019 FY2020 Y/Y FY2019 FY2020 Y/Y Recorded sales of a large project, Industry change change Orders Composition Orders Composition Sales Composition Sales Composition the order for which had been Automobile, auto pa
Slide 10: Orders by Destination
Orders by Destination 9 (Billion yen) FY2017 FY2018 FY2019 FY2020 ✓ Japan: Y/Y Orders fell, given a reactionary Region Orders Composition Orders Composition Orders Composition Orders Composition change fall in airport systems, which had Japan 145.3 29.8% 174.0 34.6% 170.0 35.2% 152.5 33.8% -17.5 ben
Slide 11: Sales by Destination
Sales by Destination 10 (Billion yen) FY2017 FY2018 FY2019 FY2020 Y/Y Sales Composition Sales Composition Sales Composition Sales Composition Region change ✓ North America: Japan 132.4 32.7% 127.6 27.8% 155.0 34.9% 163.9 34.6% +8.9 Sales were driven by automotive Non-Japan 272.4 67.3% 331.8 72.2% 28
Slide 12: Service Sales
Service Sales 11 (Billion yen) Service sales Ratio to net sales 25% 25% 25% 23% 119.4 101.0 107.9 108.9 FY2017 FY2018 FY2019 FY2020 Y/Y Growth Rate 13% 7% 1% 10% © 2021 Daifuku Co., Ltd.
Slide 13: Quarterly Orders, Sales and Order Backlogs (Consolidated)
Quarterly Orders, Sales and Order Backlogs (Consolidated) 12 (Billion yen) Orders Sales 148.5 145.0 149.4 140.6 129.1 128.8 127.1 118.1 120.8 119.9 123.7 112.7 113.8 113.9 116.0 100.4 128.7 124.8 113.4 112.5 110.0 116.7 112.3 108.0 104.8 104.9 99.0 100.4 97.2 96.1 85.0 84.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 14: Liabilities, Fixed Cost, Employees (Consolidated)
Liabilities, Fixed Cost, Employees (Consolidated) 13 (Billion yen) FY2017 FY2018 FY2019 FY2020 Y/Y change Short-term 19.9 19.4 11.7 15.5 +3.7 Long-term 18.0 20.5 21.6 19.6 -2.0 Total 37.9 40.0 33.4 35.1 +1.7 D/E ratio* (times) 0.20 0.18 0.14 0.14 － Fixed cost 107.7 119.3 117.6 117.4 -0.1 Personnel 7
Slide 15: Financial Condition
Financial Condition 14 (Billion yen) 262.0 ✓ Net assets: Favorable growth 237.3 222.8 ✓ D/E ratio: Favorable level at Common stock 191.4 below 0.2 0.20 times Net assets 0.18 times 0.14 times 0.14 times D/E ratio 31.8 31.8 31.8 31.8 FY2017 FY2018 FY2019 FY2020 ROE* 17.7％ 19.5% 12.4% 13.2% ✓ ROE: Secu
Slide 16: Earnings Forecast
15 Back to contents Earnings Forecast © 2021 Daifuku Co., Ltd.
Slide 17: Fiscal 2021 Forecast (Consolidated)
Fiscal 2021 Forecast (Consolidated) 16 (Billion yen) FY2021 FY2021 FY2020 FY2020 H1 H1 FY Y/Y change Y/Y rate Y/Y change Y/Y rate (Forecast) (Forecast) Orders 189.3 290.0 +100.6 +53.2% 451.0 520.0 +68.9 +15.3% Net sales 230.0 240.0 +9.9 +4.3% 473.9 500.0 +26.0 +5.5% Operating income 19.6 20.5 +0.8 +
Slide 18: Financial Performance
Financial Performance 17 (Billion yen) Net sales Operating income Operating margin 11.9% 700.0 10.5% 9.9% 12.0% 600.0 9.1% 9.4% 9.4% 540.0 500.0 473.9 7.0% 459.4 500.0 443.6 404.9 400.0 2.0% 300.0 -3.0% 200.0 -8.0% 54.6 56.7 100.0 39.9 40.4 44.5 47.0 0.0 -13.0% FY2017 FY2018 FY2019 FY2020 FY2021 FY2
Slide 19: Dividends
Dividends 18 (Yen) Interim Year-end Consolidated payout ratio ✓ Kept the consolidated dividend payout ratio at roughly 30% in every fiscal year. A consolidated 33.6% dividend payout ratio of 30.8% 31.5% 40. 0% 29.7% 31.1% 140 28.6% was maintained on a four-year 30. 0% 120 (FY2017-FY2020) average dur
Slide 20: Capital Investment, Depreciation, R&D Expenses (Consolidated)
Capital Investment, Depreciation, R&D Expenses (Consolidated) 19 ✓ Invested in maintaining and retrofitting production facilities at factories in Japan and North America. ✓ Depreciation has remained mostly at the same level. Capital investment Deprecation & amortization (Billion yen) R&D expenses Ra
Slide 21: Medium-Term Business Plan
20 Back to contents Medium-Term Business Plan © 2021 Daifuku Co., Ltd.
Slide 22: Review of Value Innovation 2020
Review of Value Innovation 2020 21 Net sales Operating margin 700 .0 11.9% 11.5% 9.9% 9.4% 9.1% 11. 0% 8.0% 600 .0 500.0 459.4 473.9 443.6 500 .0 420.0 6.0 % 404.9 400 .0 1.0 % 300 .0 200 .0 -4.0% 100 .0 - -9.0% FY2017 FY2018 FY2019 FY2020 Initially planed Revised (February 2017) (May 2019) ROE 17.7
Slide 23: Review of Value Innovation 2020
Review of Value Innovation 2020 22 Core Policies Outcome Next Challenge Business Domains Enabled the visualization of system ・ Establishing new core business maintenance data by employing IoT ・ Strengthening existing businesses technologies. By expanding efforts toward the Use evolving ICT and AI an
Slide 24: Topics of Value Innovation 2020
Topics of Value Innovation 2020 23 Core Policies Develops 3D software package, Sym3, across the Daifuku Group With these technologies, development and testing are possible without physically making Provide smart logistics anything, the current status of operations can be confirmed without being on s
Slide 25: Concept of Value Transformation 2023
Concept of Value Transformation 2023 24 Period of the new business plan (April 2021 – March 2024) While the previous business plan was formulated to address a four-year period, the period of this business plan is three years to enable a quicker response to drastic change in the social, environmental
Slide 26: Themes of Value Transformation 2023
Themes of Value Transformation 2023 25 Current Business Environment Themes and Business Strategy Market Trends 1. Accelerating globalization 3. Developing new business Global expansion of e-commerce Strategically invest in the global market Invest in promising new domains Business Diversified automa
Slide 27: Cautionary Statement with Respect to Forward-Looking Statements
Cautionary Statement with Respect to Forward-Looking Statements The strategies, beliefs and plans related to future business performance as described in this document are not established facts. They are business prospects based on the assumptions and beliefs of the management team judging from the m