comfort seat for minivan exhibited at the 43india established new company as regional...
TRANSCRIPT
Comfort seat for minivan exhibited at the 43rd
Tokyo Motor Show 2013
http://www.tstech.co.jp
Securities code: 7313
First Section, Tokyo Stock Exchange
- Business Overview and Results Outline for FY2014
- 12th Medium-Term Management Plan
(April 2014 to March 2017)
- Outline of Consolidated Forecasts for FY2015
Outline Michio Inoue President
Detail Kazuhiko Hikida Managing Director & Executive
General Manager of the Corporate
Business Administration Division
-Consolidated Results for FY2014
-Consolidated Earnings Forecasts for FY2015
- Business Overview and Results Outline for FY2014
- 12th Medium-Term Management Plan
(April 2014 to March 2017)
- Outline of Consolidated Forecasts for FY2015
Outline Michio Inoue President
Detail Kazuhiko Hikida Managing Director & Executive
General Manager of the Corporate
Business Administration Division
-Consolidated Results for FY2014
-Consolidated Earnings Forecasts for FY2015
Business Overview and
Results Outline for FY2014 April 1, 2013 – March 31, 2014
Consolidated FY2013 FY2014
Difference Year-on-year Sales ratio Sales ratio
Net sales 359,331 100.0% 457,053 100.0% 97,772 27.2%
Operating income 24,219 6.7% 39,133 8.6% 14,914 61.6%
Ordinary income 27,209 7.6% 42,937 9.4% 15,728 57.8%
Net income 15,741 4.4% 23,900 5.2% 8,159 51.8%
Non-consolidated FY2013 FY2014
Difference Year-on-year Sales ratio Sales ratio
Net sales 85,800 100.0% 97,587 100.0% 11,787 13.7%
Operating income 817 1.0% 2,365 2.4% 1,547 189.2%
Ordinary income 5,605 6.5% 10,761 11.0% 5,155 92.0%
Net income 4,355 5.1% 8,776 9.0% 4,420 101.5%
(Unit: Million yen)
[Results compared to FY2013]
[Results compared to FY2013]
* Cash dividends per share in brackets are based on projected figures.
Cash dividends per share
¥34 ¥54 ¥20 58.8%
End of 1st half ¥14 ¥24 ¥10 71.4%
End of year ¥20 ¥30 ¥10 50.0%
(Unit: Million yen)
Results Outline for FY2014
Business Overview and
Results Outline for FY2014
- Review of 11th Medium-Term Management Plan-
7
Medium-Term Management Plan … Vision for 2020
World leader in component competitiveness
2030 Level of global interior parts manufacturing giants ・・・ To the highest peak, Mt. Everest
2010 GOOD QUALITY COMPANY
World-class quality ・・・From beautiful Mt. Fuji
2020 INNOVATIVE QUALITY COMPANY
8
11th Medium-Term
Management Plan
Evolution as a global company
Bolster QCDDM competitiveness
Construct an infrastructure of people capable of
competing worldwide
Develop as a leading company in CSR
Expand sales to companies other than Honda
Honda’s global growth partner
11th Medium-Term Management Plan (April 2011 to March 2014)
Inte
ns
ified
effo
rts
Th
ree
prio
rity
me
as
ure
s
Operating income margin
Objective 6.0% → Actual 8.6%
Evolution as a global company
9
Creation of a global operations framework
Completed establishment of headquarters in each region
Completed base for global operations
Japan TS TECH
Asia
and
Europe Regional Headquarters
TS TECH ASIAN
China Regional Headquarters
TS TECH HONG KONG Regional Headquarters
TS TECH AMERICAS
The
Americas
Bolster QCDDM* competitiveness *Q(Quality) C(Cost) D(Development) D(Delivery) M(Management)
10
Bolster QCDDM competitiveness
Construct an infrastructure of people capable of
competing worldwide
Develop as a leading company in CSR
Expand sales to companies other than Honda
Honda’s global growth partner
11th Medium-Term Management Plan (April 2011 to March 2014)
Operating income margin
Objective 6.0% → Actual 8.6%
グローバル企業としての進化
2011-2014
Inte
nsifie
d
effo
rts
Th
ree p
riority
mea
su
res
11
Expansion of production capacity and development systems
and completion of consolidations to meet customer needs
Honda’s global growth partner
❚ CIKAMPEC Commenced
operations at new
plant
INDONESIA
❚ Established
new company as
R&D base
※Entrance to office building
CHINA
❚ Decided to establish new company
(Motorcycle seat production)
❚ RAJASTHAN Commenced operations at new
plant (Automobile seat production)
INDIA
❚ Established new company as regional
headquarters/R&D base
❚ KABINBURI Established new company
❚ SARABURI
Commenced
operations at new
plant
THAILAND
12
Honda’s global growth partner
Aiming to expand orders received
for light automobiles
■Production system specializing in
products for light automobiles
■Establishment of a sales liaison office
in the plant
Response to customer SKI (Suzuka bulk system)
Enhancing production efficiency
and developing production technology
Global base for manufacturing
Suzuka Plant Saitama Plant
❚ Receiving orders for
production for
N-WGN
❚ Strengthening the organization to receive orders
for light automobiles
❚ Restructuring in
Japan
Consolidation
at Saitama Plant
New interior plant New seat plant
Saitama Plant (Gyoda)
Expansion of production capacity and development systems
and completion of consolidations to meet customer needs
13
Acquired commercial rights from VW(development through production)/
Received order for trim covers from MAZDA
Expand sales to customers other than Honda
GERMANY MEXICO
HUNGARY
❚ Relocated and expanded sales/
research & development base
❚ Established new company
(Completed plant building)
VW Third seats
for new SUV
❚ Commenced
production
for MAZDA
❚ Established new company
as base to supply
components in the Americas
Scheduled to start
operations in
October 2014
Strengthening
components business
with view to sales to
customers other
than Honda
‘MAZDA3’ trim covers
Business Overview and
Results Outline for FY2014
- Business Overview for FY2014 -
15
SUZUKI SUBARU Kawasaki YAMAHA
Honda
FIT
ACCORD HYBRID
CBR400R CTX700N
ODYSSEY
N-WGN
RDX
TL ACCORD
CRIDER
CRF110F ( export )
ACCORD
AMAZE (India)
MOBILIO (Indonesia)
CITY (India)
CITY (Thailand)
KX85
(Kawasaki)
Ninja1000
(Kawasaki)
HAYABUSA 1300
(SUZUKI)
ESTRELLA
(Kawasaki) Raptor 700R
(YAMAHA)
FourTraxRancher
CRF125F
CTX1300
FITSHUTTLE
CIVIC
Key Models Entering Production during FY2014
Japan
Americas
China
Asia and
Europe
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
ACTIVA (India)
SCV125
(India)
CR-V (North America)
CARRY (SUZUKI)
Automobiles Motorcycles
Red: New model/Full model change
Black: Minor model change
Debut: November 2013
Production site: Japan
Order: Seats
Honda N-WGN New model
16
at a low price Delivering a comfortable car interior for everyone
Cost and weight cutting measures
Specifications: Reduced weight and cost through
purposeful specifications, including
the use of two rear seat rails
Manufacturing: Built special-purpose
manufacturing line to ensure
the smooth flow of products and
profitability even for products
for light automobiles
Purchasing: Established base cost for products for
light automobiles through rigorous cost-
cutting activities
Key Models Entering Production during FY2014
Honda ODYSSEY Full model change
17
Debut: November 2013
Production site: Japan
Order: Seats
Premium cradle seat
Technology: When the back rest is reclined, the
front part of the seat lifts to provide
gentle support.
Also has generous long-slide function, an articulated
structure in the backrest, and a built-in ottoman
*Develops the concept
of the “Relax Seat”
(pictured on the right)
exhibited at the 42nd TMS.
Supreme comfort everyone will appreciate
Key Models Entering Production during FY2014
18
promptly reflecting local needs Honda MOBILIO New model
Debut: January 2014
Production site: Indonesia
Order: Seats
Prototype-less development
Cost-cutting measures
Development: First seat independently developed
at local research & development site
Challenges: First prototype-less development
(CAE development), and fastest-ever
development in the shortest-ever
timeframe
Procurement: Actively used new local suppliers
Specifications: Tailored specifications (reduced
cost) to meet local needs according to
local market research
Key Models Entering Production during FY2014
12th Medium-Term Management Plan April 2014 to March 2017
20
12th Medium-Term Management Plan (April 2014 to March 2017)
Bolster QCDDM competitiveness
Construct an infrastructure of people
capable of competing worldwide
Conduct CSR activities
Honda’s global growth partner Intensified
efforts
Fo
ur p
riority
measu
res
Net sales
¥500 billion
Operating income
¥45 billion
Expand sales to customers other than Honda
Establishment of position as a global company
2014-2017
Intensified
efforts
21
2020 World leader in component competitiveness
12th Medium-Term Management Plan (April 2014 to March 2017)
Creation of technologies enabling
low-cost manufacturing dominance
Creation of
“unprecedented value”
Investment of management
resources (people, goods, money and information)
Attractive products that exceed customer expectations
New product
development
Innovative
Production
engineering
22
2020 World leader in component competitiveness
Pursue component strategies at a global level
12th Medium-Term Management Plan (April 2014 to March 2017)
Component strategies Functional cooperation
Japan
The Americas
China
Asia and Europe
Frames
Devices
Trim
covers
Door
trims
New product development
Creation of innovative
production engineering
Establishment of optimum
process flow
Purchasing
Production
Development
Sales Administration
Glo
bal p
rocure
me
nt
Pro
ductio
n e
ngin
eerin
g
effic
iency &
qu
ality
New
technolo
gie
s
& n
ew
pro
ducts
Pla
nnin
g &
stra
tegy
form
ula
tion
HR
develo
pm
en
t
& fin
ances
Regional
characteristics
23
Expand sales to customers other than Honda
Global cooperation structure
Development and
Engineering Division
Strengthen structure for each region/function
and rigorously conduct regional development
and sales activities through global cooperation
The
Americas
China
Europe DEUTSCHLAND
12th Medium-Term Management Plan (April 2014 to March 2017)
Asia THAILAND
Appointing “personnel responsible for sales to
customers other than Honda” in each region
Establishing “regional development structure”
Appointing personnel in charge of sales to customers
other than Honda in each functional division
Manufacturing
Division
Corporate Purchasing
Division
Corporate Quality
Assurance Division
Japan Director in charge of new
business development
Sales Division
Outline of Consolidated
Forecasts for FY2015
25
Outline of Consolidated Forecasts for FY2015
Japan ❚ Increase in production of seats for light automobiles (new models)
despite a slowdown in demand due to changes in the tax system
❚ Reduction of expenses
The Americas
❚ Decrease in order volume (decrease in high value added models) as compared to the previous fiscal year's strong sales owing to the economic recovery
❚ Increase in expenses, mainly due to the launch of a new factory
China ❚ Increase in production of locally developed automobiles in the
middle class
❚ Increase in labor costs
Asia and Europe
❚ Decrease in production due to the abolition of tax privileges and political instability in Thailand
❚ Ordered model makeup focusing on low cost automobiles
Assumptions for the consolidated forecasts (predictions)
26
Outline of Earnings Forecasts for FY2015
Consolidated FY2013 FY2014 Forecast
Difference Year-on-year Sales ratio Sales ratio
Net sales 457,053 100.0% 438,000 100.0% -19,053 -4.2%
Operating income 39,133 8.6% 37,500 8.6% -1,633 -4.2%
Ordinary income 42,937 9.4% 40,000 9.1% -2,937 -6.8%
Net income 23,900 5.2% 22,700 5.2% -1,200 -5.0%
(注) 1株当たり配当の( )は予定です。
Cash dividends per share
¥54 (¥60) ¥6 11.1%
End of 1st half ¥24 (¥30) ¥6 25.0%
End of year ¥30 (¥30) ¥0 0.0%
[Results compared to FY2013] (Unit: Million yen)
* Cash dividends per share in brackets are based on projected figures.
- Business Overview and Results Outline for FY2014
- 12th Medium-Term Management Plan
(April 2014 to March 2017)
- Outline of Consolidated Forecasts for FY2015
Outline Michio Inoue President
Detail Kazuhiko Hikida Managing Director & Executive
General Manager of the Corporate
Business Administration Division
-Consolidated Results for FY2014
-Consolidated Earnings Forecasts for FY2015
Consolidated Results
for FY2014
29
FY2013 (Actual)
FY2014 Year-on-year
Change
from forecasts Revised forecasts (Oct. 29) Actual results
Net sales 359,331 441,000 457,053 27.2% 3.6%
Operating income 24,219 34,500 39,133 61.6% 13.4%
Ordinary income 27,209 37,000 42,937 57.8% 16.0%
Net income 15,741 21,000 23,900 51.8% 13.8%
Capital investment 11,377 20,500 19,960 75.4% -2.6%
Depreciation 7,332 8,400 8,628 17.7% 2.7%
R&D expenses 11,221 10,690 11,635 3.7% 8.8%
Exchange rates
USD Full year average
¥83.09 Full year average
¥96.93 Full year average
¥100.21
CNY Full year average
¥12.64 Full year average
¥15.60 Full year average
¥15.89
Cash dividends per share ¥34 (¥48) (¥54)
<<Compared to forecasts (Oct. 29)>>
[Net sales] - Increase in revenue due to exchange rate impacts
- Increase in revenue with increased order volumes from major customers
[Operating income/ordinary income/net income] - Increase in income given the effect of a weak yen
- Increase in income due to cost cutting, etc.
<<Year-on-year>>
[Net sales]
- Increase in revenue due to exchange rate impacts
- Increase in revenue with increased order volumes mainly in the Americas and China
[Operating income/ordinary income/net income]
- Increase in income due to the increase in revenue and cost cutting
[Capital investments]
- Restructuring in Japan and construction of new plants in Thailand and Indonesia
(Unit: Million yen)
* Cash dividends per share in brackets are based on projected figures
Outline of Consolidated Results for FY2014 [Results compared to FY2013 / Results compared forecasts (Oct. 29)]
30
Revenue rose in all businesses due to an increase in ordered models
2013年3月期 2014年3月期
+55 (Up 0.8%)
+96,403 (Up 27.6%)
457,053
445,406
4, 791
6,855
+1,263 (Up 35.8%)
Motorcycles 1.5%
Automobiles 97.5%
Other 1.0%
Motorcycles 1.9%
Automobiles 97.1%
Other 1.0%
349,003
359,331 6,800
6,800
3, 527
Net Sales According to Business Segment [Results compared to FY2013]
(Unit: Million yen)
FY2013 FY2014
31
2013年3月期 2014年3月期
Revenue increased, particularly in seats and doors
396,148
636
1,791
445,406
35,244
+87,672 (Up 28.4%)
+8,386 (Up 31.2%)
-1,154 (Down 64.4%)
+1,499 (Up 12.6%)
Other 3.0%
Seats 89.0%
Doors 7.9%
Roofs 0.1%
Other 3.4%
Seats 88.4 %
Doors 7.7 %
Roofs 0.5%
308,476
1,791
349,003
26,858
13,376
11,877
Net Sales According to Product; Automobile Segment [Results compared to FY2013]
FY2013 FY2014
(Unit: Million yen)
32
Japan
Actual
Oct. 29 forecast
FY2013
Actual
Reasons for year-on-year rise/fall ・Increase in revenue due to increased order
volumes from major customers
・Increase in revenue due to increase in royalties
Reasons for rise/fall from Oct. 29 forecast ・Increase in revenue due to difference in model
makeup
FY2014
Year-on-year +11,033(Up 11.8%)
Oct. 29 forecast +2,246(Up 2.2%)
(Million y
en)
China
Actual FY2013
Actual
Reasons for year-on-year rise/fall ・Increase in revenue due to increased order
volumes from major customers
・Increase in revenue due to exchange rate impacts
Reasons for rise/fall from Oct. 29 forecast ・Increase in revenue due to exchange rate impacts
・Increase in revenue due to increased order
volumes from major customers
Exchange rate impact Year-on-year +22,256 million yen
Oct. 29 forecasts + 2,213 million yen FY2014
Year-on-year + 32,151(Up 44.7%)
Oct. 29 forecast +6,193(Up 6.3%)
(Millio
n y
en)
The Americas
Actual
FY2013
Actual
Reasons for year-on-year rise/fall ・Increase in revenue due to increased order
volumes from major customers
・Increase in revenue due to exchange rate
impacts
Reasons for rise/fall from Oct. 29 forecast ・Increase in revenue due to increased order
volumes from major customers
・Increase in revenue due to exchange rate
impacts
Exchange rate impact
Year-on-year +35,624 million yen
Oct. 29 forecasts + 6,394 million yen
FY2014
Year-on-year + 42,565(Up 24.7%)
Oct. 29 forecast +15,418(Up 7.7%)
(Million y
en)
Asia and Europe
Actual
FY2013
Actual
Reasons for year-on-year rise/fall ・Increase in revenue due to increased order
volumes from major customers
・Increase in revenue due to exchange rate impacts
Reasons for rise/fall from Oct. 29 forecast
Exchange rate impact Year-on-year +10,752million yen
Oct. 29 forecasts + 14 million yen
FY2014
Year-on-year +17,603(Up 35.1%)
Oct. 29 forecast - 39(Down 0.1%) (M
illion y
en)
97,870
71,911 67,850
50,207
102,650
199,210
172,063
93,862 104,895
214,628
Results According to Segment (Net Sales)
Oct. 29 forecast
Oct. 29 forecast
Oct. 29 forecast
104,063
67,811
33
Japan
Reasons for year-on-year rise/fall ・Increase in income due to a rise in revenue
・Increase in income due to a rise in royalties
Reasons for rise/fall from Oct. 29 forecast ・Decrease in income as a result of increased
costs
Year-on-year +1,570(Up 29.5%)
Oct. 29 forecast -186(Down 2.6%)
China
Reasons for year-on-year rise/fall ・Increase in income due to a rise in revenue
・Increase in income due to exchange rate impacts
Reasons for rise/fall from Oct. 29 forecast ・Increase in income due to a rise in revenue
Exchange rate impact
Year-on-year +3,068 million yen
Oct. 29 forecasts + 319 million yen
Year-on-year +5,780(Up 70.6%)
Oct. 29 forecast +1,450(Up 11.6%)
The Americas
Reasons for year-on-year rise/fall ・Increase in income due to a rise in revenue
・Increase in income due to exchange rate impacts
Reasons for rise/fall from Oct. 29 forecast ・Increase in income due to a rise in revenue
・Increase in income reflecting cost cutting
Exchange rate impact Year-on-year +2,507 million yen
Oct. 29 forecasts + 361 million yen
Year-on-year +6,122(Up 60.0%)
Oct. 29 forecast +4,094(Up 33.5%)
Asia and Europe
Reasons for year-on-year rise/fall ・Increase in income due to a rise in revenue
・Increase in income due to exchange rate impacts
Reasons for rise/fall from Oct. 29 forecast ・Increase in income reflecting cost cutting
Exchange rate impact Year-on-year + 1,104 million yen
Oct. 29 forecasts -2 million yen
Year-on-year +3,115(Up 63.9%)
Oct. 29 forecast +244(Up 3.2%)
8,190
7,750
7,080
5,323
10,212
12,240
4,878
(Millio
n y
en)
(Millio
n y
en)
(Millio
n y
en)
(Millio
n y
en)
Results According to Segment (Operating Income)
12,520
6,893
16,334
13,970
7,994
6.6 % 5.7% 6.9%
Operating income margin
7.6 % 5.9% 6.1%
13.5 % 11.4% 12.8%
11.8 %
9.7% 11.4%
Operating income margin
Operating income margin
Operating income margin
Actual
Oct. 29 forecast
FY2013
Actual
FY2014
Actual FY2013
Actual
FY2014
Actual
FY2013
Actual
FY2014
Actual
FY2013
Actual
FY2014
Oct. 29 forecast
Oct. 29 forecast
Oct. 29 forecast
34
2012年3月期 2012年3月期
24,219
Fluctuating sales & changes to model makeup
7,706
39,133
Increased SG&A
expenses
-2,238
Fluctuating material costs
408 Reduced costs
2,355 Exchange
rates
6,680
Ordinary income increased, reflecting increased order volumes from major customers, exchange rate impacts, and cost reductions
14,913(Up 61.6%)
8.6%
Operating income margin
6.7%
Operating income margin
(Unit: Million yen)
FY2013 Actual
FY2014 Actual
Reasons for Increase/Decrease in Ordinary Income [Results compared to FY2013]
35
Ordinary income rose, primarily reflecting increased order volumes from major customers and exchange rate effects.
1900/1/1 1900/1/2 1900/1/3 1900/1/4 1900/1/5 1900/1/6 1900/1/7 1900/1/8
39,133
34,500
24,219
Exchange rates
678
Increased SG&A expenses
362 Reduced costs
439
Fluctuating material costs
170
Fluctuating sales & changes to
model makeup
2,984
4,633(Up13.4%)
8.6%
6.7%
7.8%
Operating income margin
Operating income margin
(Unit: Million yen)
FY2012 Actual
FY2013 Forecasts Oct. 29
FY2014 Actual
Reasons for Increase/Decrease in Ordinary Income [Results compared to forecasts (Oct 29)]
36
Net sales Operating income
124,275
116,741
89,916 89,118 88,58291,713
106,862109,176
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
4,4204,108
5,1515,518
1,481
△613
5,331
第1四半期 第2四半期 第3四半期 第4四半期 第1四半期 第2四半期 第3四半期 第4四半期
32,562 (Up 35.5%)
28,158 (Up 31.8%)
20,057 (Up 22.5%)
16,945 (Up 18.8%)
7,129
6,094
10,42310,063
5,283
5,712
9,5659,060
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
2,966 (Up 48.7%)
4,780 (Up 90.5%)
2,435 (Up 34.2%)
4,710 (Up 82.5%)
Quarterly Results
(M
illion ye
n)
(M
illion ye
n)
FY2013 FY2014 FY2013 FY2014
Consolidated Earnings Forecasts
for FY2015
38
FY2014 (Actual) FY2015 (Forecasts) Difference Change
Sales ratio Sales ratio
Net sales 457,053 100.0% 438,000 100.0% -19,053 -4.2%
Operating income 39,133 8.6% 37,500 8.6% -1,633 -4.2%
Ordinary income 42,937 9.4% 40,000 9.1% -2,937 -6.8%
Net income 23,900 5.2% 22,700 5.2% -1,200 -5.0%
Capital investment 19,960 20,000 40 0.2%
Depreciation 8,628 9,600 972 11.3%
R&D expenses 11,635 13,400 1,765 15.2%
Exchange rates (full year averages)
USD: ¥100.21 CNY:¥15.89 USD: ¥100.0 CNY:¥16.1
1st half (Actual) 2nd half (Actual) 1st half(Forecasts) 2nd half(Forecasts)
Net sales 216,037 241,016 213,000 225,000
Operating income 20,485 18,647 16,500 21,000
Ordinary income 21,809 21,128 17,800 22,200
Net income 12,738 11,162 9,900 12,800
[Net Sales]
- Decrease in revenue with decreased order volumes mainly in Thailand and North America
[Operating income/ordinary income/net income]
- Decrease in income due to a decrease in revenue
[Main capital investments]
- Restructuring in Japan and decrease in investment in new factory in Asia, etc.
- Increase in investment in the Americas and China
Outline of Consolidated Earnings Forecasts for FY2014 [Forecasts compared to results for FY2013]
(Unit: Million yen)
39
Japan
Year-on-year -3,575(Down 3.4%)
(Millio
n y
en)
China
Year-on-year +3,286 (Up 3.2%)
(Millio
n y
en)
The Americas
Year-on-year -16, 668(Down7.8%)
(Millio
n y
en)
Asia and Europe
Year-on-year -5,381(Down 7.9%)
(Millio
n y
en)
2013年3月期 2014年3月期
104,895 101,320
見通し 2013年3月期 2014年3月期
2013年3月期 2014年3月期
2013年3月期 2043年3月期
107,350
214,628 197,960
67,811 62,430
見通し
見通し
見通し
実績
実績
実績
Reasons for year-on-year rise/fall ・Increase in revenue with higher order volumes
from major customers
・Decrease I revenue reflecting decline in sales of
components supplied overseas
Reasons for year-on-year rise/fall ・Decrease in revenue with lower order volumes from
major customers
Exchange rate impact -32 million yen
Reasons for year-on-year rise/fall ・Increase in revenue with higher order volumes
from major customers
・Decrease in revenue reflecting exchange rate
impacts
・Decrease in revenue due to a change in the
model makeup
Exchange rate impact +820 million yen
Reasons for year-on-year rise/fall ・Decrease in revenue due to a change in the
model makeup
・Decrease in revenue reflecting exchange rate
impacts
Exchange rate impact - 924 million yen
FY2015
Forecasts
FY2014
Actual
Forecasts According to Segment (Net Sales)
104,063
FY2015
Forecasts
FY2014
Actual
FY2015
Forecasts
FY2014
Actual
FY2015
Forecasts
FY2014
Actual
40
Japan
Year-on-year +2,566 (Up 37.2%)
China
Year-on-year +509 (Up 3.6%)
The Americas
Year-on-year -2,334(Down14.3%)
Asia and Europe
Year-on-year -1,834 (Down 22.9%)
6,893
9,460
2012年3月期 2013年3月期
13,970 14,480
16,334
14,000
7,994
6,160
Reasons for year-on-year rise/fall ・Increase in income due to higher volumes
・Increase in income due to cost cutting
Reasons for year-on-year rise/fall ・Increase in income due to an increase in revenue
・Increase in income attributable to exchange rate
impacts
・Decrease in income due to a change in model
makeup
Exchange rate impact + 107 million yen
Reasons for year-on-year rise/fall ・Decrease in income due to a decrease in
revenue
・Increase in income due to cost cutting
Exchange rate impact +1 million yen
Reasons for year-on-year rise/fall ・Decrease in income due to a decrease in
revenue
・Decrease in income due to a change in model
makeup
Exchange rate impact -143 million yen
(Million y
en)
(millio
n y
en)
(Millio
n y
en)
(millio
n y
en)
Forecasts According to Segment (Operating Income)
9.3 % 6.6%
7.1 % 7.6%
13.5 % 13.4%
9.9% 11.8%
Operating income margin
Operating income margin
Operating income margin
Operating income margin
FY2015
Forecasts
FY2014
Actual
FY2015
Forecasts
FY2014
Actual
FY2015
Forecasts
FY2014
Actual
FY2015
Forecasts
FY2014
Actual
41
Decrease in income due to decreased order volumes
from major customers and change in model makeup
2014年3月期 2015.年3月期
39,133
Fluctuating sales & changes to
model makeup
△5,331 37,500
Increased SG&A
expenses
735 Fluctuating material costs
△703
Reduced costs
3,700
Exchange rates
△34
-1,633(Down 4.2%) (Unit: Million yen)
8.6%
8.6%
Operating income margin
Operating income margin
Reasons for Increase/Decrease in Ordinary Income [Forecasts compared to results for FY2014]
FY2014 Actual
FY2015 Forecasts
42
Capital investments are expected to increase in FY2015, reflecting the construction of a new interior plant in the Saitama Plant
and new plants in Thailand, Mexico, Indonesia and other locations.
8,628
5,082
659
2,857
2,779
11,377
7,332
6,698 5,380
7,227
19,960 20,000
654
4,250
8,300
2,600
4,850 9,600
Capital Investment and Depreciation
FY2013 Actual FY2014 Actual FY2015 Forecasts
Capital investment
Depreciation
Total
Japan Americas
China Asia and Europe
Total
FY2013 FY2014 FY2015 FY2013 FY2014 FY2015 FY2013 FY2014 FY2015
FY2013 FY2014 FY2015 FY2013 FY2014 FY2015 FY2013 FY2014 FY2015
(Unit: Million yen)
(Unit: Million yen)
IR inquiries TS TECH Co., Ltd. Public Relations Section. Administration Department
Phone: 048‐462‐1136
Forward-looking statements and earnings forecasts contained in this presentation represent TS TECH’s
assumptions based on information currently available and are subject to a degree of risk and uncertainty.
Therefore, please bear in mind that actual results may vary significantly from the forward-looking
statements contained in this presentation due to a range of variable factors.