JTEKT Corporation · TSE:6473
JTEKT — Q1 FY2022 Earnings Presentation
34 slides from JTEKT's earnings presentation, Aug 2, 2022
Slide 1: IR Presentation for the First Quarter of Fiscal Year Ending March 2023
IR Presentation for the First Quarter of Fiscal Year Ending March 2023 August 2, 2022 1 JTEKT CORPORATION
Slide 2: Overview of Financial Results
Overview of Financial Results Revenues increased due to foreign exchange, but remained essentially flat Results YoY due to production cuts caused by COVID-19 and semiconductor shortages. Business profit decreased due to production cutbacks and raw material, logistics, and energy costs, despite cost
Slide 3: Contents
Contents １．Results for the First Quarter of Fiscal Year Ended March 2023 P４ ２．Forecasts for Fiscal Year 2022, Ending March 2023 P９ ３．Appendix P１４ ３-１．Management indicators P１４ ３-２．Financial statements P１７ ３-３．Quarterly Result Trend P１９ ３-４．Business Profit Analysis (by Business) P３１ ３-５．Return to Sha
Slide 4: 1-1) Consolidated Performance
1-1）Consolidated Performance Revenues increased due to foreign exchange effects, but were essentially flat YoY due to customers' production cutbacks. Business profit decreased due to the impact of customers‘ production cutbacks, as well as material, logistics, and energy cost hikes in each region an
Slide 5: 1-2) Business profit Analysis
1-2）Business profit Analysis Unit: Billion of yen Labor cost -0.6 Repair expense -0.4 Depreciation and amortization +0.0 R&D expense +0.9 Others -0.3 Purchased goods price +1.9 Productivity improvement +1.6 Unrealized Gain -1.7 Material cost -5.9 Logistics cost -1.6 Energy cost -0.8 5 JTEKT CORPORAT
Slide 6: 1-3) Results by Region
1-3）Results by Region Revenue Business profit Unit: Billion of yen [Rate of change] 21/6 22/6 Unit: Billion of yen (Ratio to revenue) 21/6 22/6 Foreign Change excluding Foreign Change excluding exchange foreign exchange exchange foreign exchange -0.6 Japan - -0.6 -0.5% Japan +2.9 -4.8 [-0.5%] Europe
Slide 7: 1-4) Results by Business
1-4）Results by Business Revenue Business profit Unit: Billion of yen [Rate of change] 21/6 22/6 Unit: Billion of yen (Ratio to revenue) 21/6 22/6 Foreign Change excluding Foreign Change excluding exchange foreign exchange exchange foreign exchange ＋6.3 Steering +15.5 -9.1 -5.4% Steering +1.3 -6.6 [＋
Slide 8: Contents
Contents １．Results for the First Quarter of Fiscal Year Ended March 2023 P４ ２．Forecasts for Fiscal Year 2022, Ending March 2023 P９ ３．Appendix P１４ ３-１．Management indicators P１４ ３-２．Financial statements P１７ ３-３．Quarterly Result Trend P１９ ３-４．Business Profit Analysis (by Business) P３１ ３-５．Return to Sha
Slide 9: 2-1) Forecasts - Consolidated Performance
2-1）Forecasts - Consolidated Performance Because the outlook for the external environment remains uncertain, the FY2022 forecast remains unchanged. We will continue our activities to achieve the forecasted figures, such as supplying products firmly when customers' production recovers, cost reduction
Slide 10: 2-2) Forecasts - Business profit Analysis
2-2）Forecasts - Business profit Analysis Results for FY2021 +13.5 Unit: Billion of yen Fixed costs related to business operations are reduced. Investments in strategically important areas. SBW, Gear business, CN, DX, etc. 10 JTEKT CORPORATION
Slide 11: 2-3) Forecasts by Region
2-3）Forecasts by Region Revenue Business profit Unit: Billion of yen [Rate of change] 22/3 23/3 Unit: Billion of yen (Ratio to revenue) 22/3 23/3 Foreign Change excluding Foreign Change excluding exchange foreign exchange exchange foreign exchange ＋54.5 Japan - +54.5 +9.4% Japan +4.3 +2.3 [＋9.4%] Eu
Slide 12: 2-4) Forecasts by Business
2-4）Forecasts by Business Revenue Business profit Unit: Billion of yen [Rate of change] 22/3 23/3 Unit: Billion of yen (Ratio to revenue) 22/3 23/3 Foreign Change excluding Foreign Change excluding exchange foreign exchange exchange foreign exchange ＋94.6 [＋13.7%] Steering +3.0 +91.6 +13.3% Steering
Slide 13: Contents
Contents １．Results for the First Quarter of Fiscal Year Ended March 2023 P４ ２．Forecasts for Fiscal Year 2022, Ending March 2023 P９ ３．Appendix P１４ ３-１．Management indicators P１４ ３-２．Financial statements P１７ ３-３．Quarterly Result Trend P１９ ３-４．Business Profit Analysis (by Business) P３１ ３-５．Return to Sha
Slide 14: 3-1) Management indicator
3-1）Management indicator Cash flows ROE / ROA Upper row Cash flows from operating activities FCF ROE ROA Lower row Cash flows from investing activities 27.6 39.2 41.7 4.4 4.6 103.0 3.8 -29.4 91.7 Unit: Billion of yen 3.3 62.3 67.0 14.6 1.9 1.7 1.5 0.2 -0.3 -10.1 -25.2 0.1 -52.5 -0.8 -75.3 -91.7 (For
Slide 15: 3-1) Management indicator
3-1）Management indicator Capital expenditures Depreciation and amortization R&D expense Upper row Jul-Mar Unit: Billion of yen Ratio to revenue Lower row Apr-Jun Unit: Billion of yen 4.2% 4.6% 4.2% 3.3% 3.3% 75.2 75.0 66.9 65.0 65.0 64.3 64.6 63.0 63.6 64.7 Unit: Billion of yen 52.1 52.0 50.7 47.5 4
Slide 16: 3-1) Management indicator
3-1）Management indicator Inventories Interest bearing debt / Cash reserves Left bar Interest bearing debt Inventory turnover month NET DE ratio Right bar Cash reserves 1.8 2.0 1.6 1.7 Unit: Billion of yen 1.4 0.38 254.9 0.29 0.30 Unit: Billion of yen 229.0 328.1 0.21 0.21 190.8 286.2 273.5 275.8 183
Slide 17: 3-2) Financial statements
3-2）Financial statements Assets Liabilities and equity Unit: Unit: Billion Billion of of yenyen Unit: Billion of yen Liabilities Assets 22/3 22/6 Change 22/3 22/6 Change and equity Cash and cash Trade and other equivalents 124.2 133.4 +9.1 payables 317.6 322.1 +4.5 Trade and other Interest-Bearing r
Slide 18: 3-2) Financial statements
3-2）Financial statements Consolidated Statement of Profit or Loss Consolidated Statement of Cash Flows Unit: Unit: Billion Billion of of yenyen Unit: Billion of yen 21/6 22/6 Change 21/6 22/6 Change Cash flows from Revenue 344.1 371.6 +27.5 operating activities 33.2 14.6 -18.6 Cash flows from Busine
Slide 19: 3-3) Quarterly Result Trend
3-3）Quarterly Result Trend Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 406.4 4.2% 2.6% 371.6 2.1% 2.7% 357.8 0.7% 344.1 319.9 17.0 8.9 9.7 6.5 2.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 19 JTEKT CORPORATION
Slide 20: 3-3) Quarterly Result Trend - Japan
3-3）Quarterly Result Trend－Japan Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 6.5% 168.1 2.8% 2.2% 1.9% 0.9% 138.7 140.2 138.1 135.3 10.8 3.7 3.0 2.5 1.2 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 20 JTEKT CORPORATION
Slide 21: 3-3) Quarterly Result Trend - Europe
3-3）Quarterly Result Trend－Europe Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue -4.4% -4.7% -7.1% -7.1% -8.1% 44.9 44.2 42.8 39.5 33.1 -1.8 -1.8 -2.6 -3.1 -3.1 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 21 JTEKT CORPORATION
Slide 22: 3-3) Quarterly Result Trend - North America
3-3）Quarterly Result Trend－North America Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 89.3 84.0 -0.6% -1.1% -1.2% 73.3 -1.4% 71.9 65.4 -3.6% -0.4 -1.0 -0.9 -1.0 -2.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 22 JTEKT CORPORATI
Slide 23: 3-3) Quarterly Result Trend - China
3-3）Quarterly Result Trend－China Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 11.4% 9.3% 7.9% 7.2% 52.3 46.6 5.9 43.7 5.8% 43.4 38.4 4.0 3.3 3.0 2.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 23 JTEKT CORPORATION
Slide 24: 3-3) Quarterly Result Trend - Asia & Others
3-3）Quarterly Result Trend－Asia & Others Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 10.8% 11.1% 8.7% 10.0% 8.4% 62.6 56.5 6.9 53.8 47.6 45.4 5.3 5.1 4.7 3.9 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 24 JTEKT CORPORATION
Slide 25: 3-3) Quarterly Result Trend - Automotive
3-3）Quarterly Result Trend－Automotive (Steering + Drivelines) Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 2.8% 1.8% 1.5% 276.5 258.9 237.3 245.5 -0.5% -1.0% 205.8 7.7 4.2 3.7 -0.9 -2.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY202
Slide 26: 3-3) Quarterly Result Trend - Industrial & Bearings
3-3）Quarterly Result Trend－Industrial & Bearings Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 6.1% 5.1% 4.9% 5.0% 4.0% 82.9 77.3 76.3 74.0 77.1 4.4 4.1 3.9 3.7 3.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 26 JTEKT CORPORATION
Slide 27: 3-3) Quarterly Result Trend - Machine tools
3-3）Quarterly Result Trend－Machine tools (Machine tools & others) Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 10.5% 7.0% 46.8 5.3% 40.0 4.8% 35.1 36.2 4.9 1.7% 29.3 2.8 1.9 1.7 0.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 27
Slide 28: 3-3) Quarterly Result Trend - Steering
3-3）Quarterly Result Trend－Steering Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 191.8 1.8% 1.8% 179.6 177.0 1.1% 170.6 -0.1% 148.1 -1.9% 3.3 3.3 1.9 -0.1 -3.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 28 JTEKT CORPORATION
Slide 29: 3-3) Quarterly Result Trend - Drivelines
3-3）Quarterly Result Trend－Drivelines Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 5.1% 3.5% 0.6% 84.6 81.9 1.0% -1.4% 66.7 65.9 4.3 57.7 2.3 0.8 0.4 -0.8 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 29 JTEKT CORPORATION
Slide 30: 3-3) Quarterly Result Trend - Machine tools
3-3）Quarterly Result Trend－Machine tools (Others excluded) Revenue Business profit Unit: Billion of yen Unit: Billion of yen ● Ratio to revenue 12.3% 8.9% 45.6 6.8% 6.0% 39.8 35.8 2.7% 34.7 5.5 29.2 3.5 2.0 2.4 0.7 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2021 FY2022 FY2021 FY2022 30 JTEKT
Slide 31: 3-4) Business profit Analysis - Steering / Drivelines
3-4）Business profit Analysis － Steering / Drivelines Unit: Billion of yen Steering Unit: Billion of yen Drivelines 31 JTEKT CORPORATION
Slide 32: 3-4) Business profit Analysis - Bearing / Machine tools
3-4）Business profit Analysis － Bearing / Machine tools Unit: Billion of yen Bearing Unit: Billion of yen Machine tools 32 JTEKT CORPORATION
Slide 33: 3-5) Return to Shareholders
3-5）Return to Shareholders Dividend payout ratio (%) 61.2 685.2 Return to Shareholders 26.3 27.4 29.6 30.3 29.7 29.8 30.2 30% - line Upper row Year-end dividend Lower row Interim dividend 42 42 43 44 38 34 Unit: yen per share 21 21 22 22 16 22 18 20 16 18 11 11 21 21 21 22 22 8 10 14 8 8 11 7 FY2013
Slide 34: Note on forward-looking statements
[Note on forward-looking statements] This report contains forward-looking statements pertaining to future plans and strategies. These forward-looking statements include risks, uncertainties and other factors, and actual results and business results may differ from those stated. 34 JTEKT CORPORATION