consolidated financial results for first half fy2007 · established : jan. 2003 torishima qatar...
TRANSCRIPT
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Consolidated Financial Resultsfor First Half FY2007
November 14th 2007
TORISHIMA PUMP MFG. CO., LTD.
Forecasts regarding future performance in these materials are based on judgment made in accordance with information available at the time this presentation was prepared. Therefore, please notice that there is a risk or uncertainty that the actual results may be different from these predicted results, depending on various factors.
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Business Domain
Pump
Service
Environment &
New Energy
Industrialsector
EnergyChemical, Petro-chemicalRegional development,Urban developmentGeneral industries
Publicsector
City water, Industrial waterSewerage
Flood controlAgricultureHarborSeawater desalination Water treatment
Waste processing
Wind power generationMini & Micro hydro generationBio gas & mass co-generation
Construction, repairing,Servicing and Maintenanceof pumping plant and windpower generation plant, andsolution provider
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Financial Results for First Half FY2007;Summary
80,000
60,000
40,000
20,000
0’06 1Q ’06 2Q ’06 3Q ’06 4Q ’07 1Q ’07 2Q
3,000
2,000
1,000
0
(-1,000)’06 1Q ’06 2Q ’06 3Q ’06 4Q ’07 1Q ’07 2Q
Order Received/Sales/Order Backlog ProfitOrder received Sales Order
backlogOperatingprofit
Ordinaryprofit
Netprofit
Million yenMillion yen
49,687
1,200
2,000(5.0%)
1,800
40,000
44,000
Full year forecast1H results
45,687
635
1,245(3.4%)
852
36,404
43,088
Full year results
-395120△425Net profit
58,917
742(3.9%)
736
18,806
32,035
Change
9.8%-53,653Order backlog
-200
(1.3%)△672
Ordinary profit(Ordinary margin)
-0△944Operating profit
51.6%16,00012,403Sales
18.4%-27,053Order received
1H forecast (*)1H results
FY2006 FY2007(Million yen)
(*)Beginning of FY
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Financial Results for First Half FY2007; Segment
9.8%
△15.5%
10.4%
(11.9%)
Change
58,917
995
57,921
(2,085)
1H FY2007
53,653
1,178
52,474
(1,862)
1H FY2006
Order backlog
51.6%
△18.1%
54.7%
(59.5%)
18,806
423
18,382
(1,713)
32,035 18.4%
929 8.0%
31,106
(2,401)
18.8%
(28.4%)
1H FY2007 Change1H FY2007 Change
12,40327,053Total
517860Environment
&New energy
11,885
(1,073)
26,193
(1,869)
Pumpincluding service
(service)
1H FY20061H FY2006
Order received Sales
(Million yen)
*The sum of money of service division is extracted from that of pump division in accordance with our company measure.
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Financial Results for First Half FY2007; Sector
9.8%58,91753,65351.6%18,80612,40318.4%32,03527,053Total
11.6%
4.2%
6.9%
Change
39,938
3,937
15,042
1H FY2007
35,801
3,777
14,074
1H FY2006
Order backlog
60.8%
4.5%
80.0%
12,734
2,766
3,304
19,089 52.3%
2,994 △16.8%
9,952 △8.9%
1H FY2007 Change1H FY2007 Change
7,92012,530Overseas
2,6473,599Industry
1,83510,923Public
1H FY20061H FY2006
Order received Sales
(Million yen)
100%
’061Q
Order received breakdown by sector
Public Industry Overseas
80%
60%
40%
20%
0%’062Q
’063Q
’064Q
’071Q
’072Q
100%
’061Q
80%
60%
40%
20%
0%’062Q
’063Q
’064Q
’071Q
’072Q
100%
’061Q
80%
60%
40%
20%
0%’062Q
’063Q
’064Q
’071Q
’072Q
Sales breakdown by sector Order backlog breakdown by sectorPublic Public IndustryIndustry OverseasOverseas
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Japanese pump market-Change of “Order received” by sector-
100331,258
22.875,608
13.143,247
19.263,572
44.9148,831’02
100364,460
21.176,961
14.552,766
16.058,396
48.4176,337’99
Ratio(%)Sum of money
Ratio(%)Sum of money
Ratio(%)Sum of money
Ratio(%)Sum of money
Ratio(%)Sum of money
100291,019
24.270,310
28.181,919
23.869,286
23.969,504’06
100310,464
24.877,030
18.958,578
21.867,732
34.5107,124’04
100336,549
22.976,978
14.348,032
18.361,733
44.5149,806’01
100374,413
21.781,143
15.859,055
14.453,878
48.2180,337’98
30.940.143.7
22.421.821.277,53773,13077,895
Private
106,948’05
134,685160,550Public
Overseas
100100100345,714336,161367,298
Total
19.821.321.368,45971,50078,116
Agency
26.816.913.892,77056,84650,737
’00 ’03Sector
*The market data of this page are based on a research by “Japan Society of Industrial Machinery Manufacturers”.
Public sector is shrinking from FY 1998 and whole of pump market is in severe competitive situation. On the other hand, overseas market is growing.
(Million yen)
Fiscal Year
20%
0%
40%
60%
80%
100%
’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05
Breakdown ratio
Overseas
Private s.
Public s.
Agency
’06
2,000
1,500
1,000
500
097 98 99 00 01 02 03 04 05 06
Fiscal Year
Public
Private
Overseas
Sum of moneyBil. yen
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TORISHIMA structural change-Order received and Sales- Order received and Sales
50,000
42,000
34,000
26,000’00
28,020
32,265
’01
26,816
30,445
’02
30,754
28,961
’03
28,928
29,912
’04
32,600
30,735
’05
46,443
31,393
’06
43,088
36,404
Fiscal Year
100%
0%
50%
30,000
38,000
46,000
100%
0%
50%
’00
6,887
3,984
’01
4,435
4,416
’02
3,152
5,879
’03
3,346
8,147
’04
9,327
6,054
’05
9,367
6,824
’06
16,127
6,040
21,393 21,593 19,930 18,418 15,352 15,201 14,236
40,000
36,000
34,000
32,000
30,000
28,000
’00
5,264
4,005
’01
3,011
4,309
’02
7,935
6,371
’03
7,057
7,419
’04
12,059
7,126
’05
25,758
7,177
’06
18,520
6,924
18,749 19,496 16,447 14,452 13,414 13,507 17,643
’07Full year forecast
44,000
40,000
38,000
’07中間
19,089
2,994
9,952
’07中間
12,734
2,766
3,304
(Million yen)
Order received (Mil. yen) Sales (Mil. yen)
TORISHIMA made structural changes in the pump market business.In order to keep in line with market which has resulted in steady growth, particularly in the overseas market.
Order received
Sales
Order received breakdown ratio by sector Sales breakdown ratio by sector
Fiscal YearFiscal Year
Public Public
PrivatePrivate
OverseasOverseas
(Million yen)(Million yen)
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Service Network -Overseas-
TORISHIMA BEIJING LIASON OFFICETORISHIMA BEIJING LIASON OFFICE( Sales, Engineering, Service )( Sales, Engineering, Service )Established : Jul. 2006Established : Jul. 2006
TORISHIMA EUROPE OFFICETORISHIMA EUROPE OFFICE( Glasgow / U.K. )( Glasgow / U.K. )( Sales, Engineering, Service )( Sales, Engineering, Service )Established : Jan. 2003Established : Jan. 2003
TORISHIMA QATAR PROJECT OFFICETORISHIMA QATAR PROJECT OFFICE( Engineering, Service )( Engineering, Service )Established : May. 2006Established : May. 2006
TORISHIMA U. A. E.TORISHIMA U. A. E.TORISHIMA Abu Dhabi OfficeTORISHIMA Abu Dhabi Office( Sales, Engineering, Service )( Sales, Engineering, Service )Established : Sep. 2002Established : Sep. 2002
TORISHIMA DUBAI OFFICETORISHIMA DUBAI OFFICE( Sales, Engineering, Service )( Sales, Engineering, Service )Planning to establish soonPlanning to establish soon
TORISHIMA INDONESIATORISHIMA INDONESIAP.T.GETEKA FOUNINDO ( Foundry Factory )P.T.GETEKA FOUNINDO ( Foundry Factory )Establishment : 1991Establishment : 1991P.T.TORISHIMA GUNA INDONESIAP.T.TORISHIMA GUNA INDONESIA( Machining, Assembling Factory )( Machining, Assembling Factory )Establishment : Feb. 1984Establishment : Feb. 1984P.T.TORISHIMA GUNA ENGINEERINGP.T.TORISHIMA GUNA ENGINEERING( Sales, Engineering, Service )( Sales, Engineering, Service )Establishment : Jan. 1999Establishment : Jan. 1999
TORISHIMA (HONG KONG) LIMITEDTORISHIMA (HONG KONG) LIMITED..
( Sales, Engineering, Service )( Sales, Engineering, Service )
Establishment : Oct. 1994Establishment : Oct. 1994
TORISHIMA SINGAPORE OFFICETORISHIMA SINGAPORE OFFICE( Sales, Engineering, Service )Establishment : Jan. 1979
TORISHIMA VIETNAM OFFICETORISHIMA VIETNAM OFFICE( Sales, Engineering, Service )( Sales, Engineering, Service )Establishment : Dec. 2003Establishment : Dec. 2003
TORISHIMA MALAYSIA SDN.BHD.TORISHIMA MALAYSIA SDN.BHD.( Sales, Engineering, Service )Establishment : May. 2001
TORISHIMA U. S. A. OFFICETORISHIMA U. S. A. OFFICE( Sales, Service )( Sales, Service )Establishment : Feb. 2003Establishment : Feb. 2003
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TORISHIMA Sales breakdown by area
51.6%306.1%59.2%32.1%35.4%Change of 1H
Sales12,403
36,404
18,806
1,736 5,942
4,089 10,798
2,294 9,459
TotalAsia Mid. East
2414,4831H FY2006
1,23920,276Full year FY2006
9806,0711H FY2007
Others(Overseas)
Japan(Million yen)
1H FY2006 1H FY2007Others(Overseas)
1.9%
Mid. East47.9%
Japan36.1%
Others(Overseas)5.2%
Mid. East
50.3%Asia
12.2%
Japan32.3%
Asia 14.0%
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Continuous expansion of worldwide demand for pump
40.00
30.00
20.00
10.00
0.002000 2005 2010 2015
MarineWastewater
Water Supply
Manufact. / Mach.
Other Ind.
Food & Bever.
Mining
Pulp & Paper
Power Gen.
Chemical
Refineries
Oil & Gas
Pump Market by Industries
$19.1 Bil.$21.5 Bil.
$24.6 Bil.
$28.3 Bil.
2.45% up
CAGR
2.75% up
2.85% up
Bil. USD
* Above data are referred to a commercial letter by Onestone Consulting Group.
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Middle term management plan –Order received/Sales/Objective profit figure-
44,00042,00040,00036,40431,393Sales
3,3002,8001,800852107Operating profit
635
1,245
43,088
FY 2006
Net profit
Ordinary profit
Order Received
3,5003,0002,000747
1,200 1,800
44,000 46,000
FY 2007 FY 2008
2,100377
48,00046,443
FY 2009FY 2005
Order received/Sales/Profit
4,000
2,000
0
3,000
50,000
1,000
(Profit)
40,000
30,000
20,000
(Order received / Sales)
(90th Anniversary)
Net profitOrdinary profitOperating profit
Sales
Order received
Mil. yenMil. yen
(Million yen)
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Key policiesfor the mid-term management plan
1.Strengthening of competitive advantageWe aim at building up a competitive advantage in the areas of technology, products and service by MOT (Management Of Technology) system.
2.Promoting for globalizationWe establish more markets with in which TORISHIMA can be the top 1 by areas such as industry and process on the worldwide market.
3.Expansion of service businessWe make close relationship between the end users who can find something valuable about environment, i.e. saving energy and long life expectancy, placing importance on LCC (Life Cycle Cost).
4.Leveling up factory workforceWe aim at performing operational excellence.
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We delivered more than 500,000 pumps in the world of more than 80 countries!
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Philippine“MINDANAO” BFP“Asia Pacific” BFP“Limay Battan” BFP, CWP“Batangas” CWP
Kuwait“Doha” CWP
China“Ningbo” BFP“Shanxi Heijin” BFP, CWP“BEIJING THERMAL” BFP, IP FWP“Sanhe” CWP“Hongkong Lamma” CWP“Fuzhou” CWP, BCP“Others” BFP, CWP, BCP
Turkey“Elbistan” BFP“Kangal” CWP, BFP
PolandBFPCzechBFP
Ireland“Huntstown” BFP
AustriaBFP
Cerbia“Banja Luka” BFP“Others” BFPSyria“Al-Zara” BFP“Jandar” BFP
Jordan“SAMRA” BFP
EgyptBFP
Saudi Arabia“ZHUHAI” BCP“Others” BFP, CWP
Iran“MAPNA” BFP“Gharb” CWP
U. A. E.“FUJAIRAH” BFP“Others” BFP
India“Auraiya” BFP, CWP“Durgapur” BFP“Gandhar” CWP“Others” BFP
Malaysia“PRAI CCGT”CWP
Pakistan“BIN QASIM”BFP, CWP
“Kot-Addu” CWP“Others” BFP
Thailand“RPCL” BFP“Yala Green” BFP“South Bangkok”
HP/IP FWP“Others” BFP
Singapore“TUAS” BFP“Others” BFP
Indonesia“Tarahan” BFP“Tanjung Puriok” CWP“Surabaya” CWP“Others” BFP Australia
“Port Kebla Copper” BFP“XKC” BCP
Burunei“Tutong” BFP
Vietnem“Phu My1” BFP, CWP“FIC VN” BFP“Omon” FWP, CWP, BCP“Others” BFP, CWP
Taiwan“RF-CFB” BFP“Dha-Tan” IP FWP“Hai-hu” CWP“Others” BFP
JapanBFP, HP/IP FWP,IP FWP, CWP,BCP
Korea“Puchon” BFP“Ulsan” BFP“YONGHUNG” BCP“TANGJIN” BCP“PUSAN” BCP“Others” BFP, CWP, BCP
CanadaBFP
U. S. A.“S.E.G.S” BFP“XMA” BFP“MER” BCP“Others” BCP
Mexico“Petacalco” BCP, BFP, CWP“Tuxpan” BFP, CWP“Guayamas” BFP“Altamira” BFP, CWP
DominicaCWP
Columbia“Tasajero”CWP
Brazil“Petrobras” BFP“CST Tubarao” BFP“Others” BFP
Peru“Chila” BFP
Chile“DISPUTADA” BFP“San Isidro”
IraqBFP
Worldwide TORISHIMA pump for power generation plant
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Algeria• Hamma Desalination Plant (RO)• ARZEW Desalination and Power Complex (MSF)
Libya• Abu Taraba Desalination Plant (MED)• Zuara Desalination Plant (MED)
Kuwait• Sabiya Distillation Plants Phase 1&2 (MSF)• Sabiya Distillation Plants Phase 3 (MSF)• Shuaiba Life Extension (MSF)• Az-Zour South Stage 3 (MSF)• Shuwaikh (MSF)• Sabiya (RO)• Az-Zour South Stage 2 (MSF)• Al-Khobar 3 (RO)• Doha West (MSF)
Saudi Arabia• Rabigh Power & Desalination Plant (RO)• Shuaibah IWPP Desalination Plant (MSF)• Al-Jubail Phase 2 (MSF)• Yanbu Petrochem (MSF)• Al-Shoaiba 2 (MSF)
Bahrain• RAJ RO Expansion (RO)
Oman• Ghubrah V (MSF)
Qatar• Ras Laffan B IWPP (MSF)• Ras Abu Fontas B2 (MSF)
U. A. E.• Al-Taweelah B (MSF)• Al-Taweelah A2 (MSF)• Umm Al-Nar Station B (MSF)• Ruwais (MSF)
Business performances of pumpfor the desalination plant in the middle east countries
-more than 2,000 units-If the pumps for power generation use and water supply use are added on the above figure, that is more than 4,500 unit.
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RAS ABU FONTAS B2Desalination Plant
25 - pumps136,000 ton
(Equiv : 350 thousand people)
RAS LAFFAN BDesalination Plant
46 - pumps273,000 ton
(Equiv : 700 thousand people)Booster P/S
6 - pumps
Water Supply P/S55 - pumps
Potable water-service to the city of Doha
Irrigation P/S8 - pumps
Greening-serving by supplying water to the deserts
For long-distance water transfer
Sea
Sewage Disposal Plant5 - pumps
Sewage treatment & Water supply
Seawaterintake
Capital, DOHA
Sewerage P/S5 - pumps
For long-distance sewage transfer
Seawaterdesalination
Watersupply
Relay pressurization
Water supplyWater service Water service
Water dischargeWater supply
Watersupply
Watersupply
Relay pressurization
Sewage treatment
Irrigation
Mainly in the middle east where they were suffering from shortage of water, we contribute for the creation of full-water life. TORSHIMA pump is the heart of Doha, conveying water from sea to the above important sights after desalinating.
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Development of high-efficient pump enables to save energy and decrease damage toward environment !
We are working for reducing CO2 emission positively, by way of saving energy and applying natural energy, as we commit to promote for environmental management on our management policy.
The boiler feed pump of “MH series” which is a basic kind of energy area is getting business performances as a key method for environmental friendly one.
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3000
2700
2400
2100
1800
1500
1200
900
600
300
00 100 200 300 400 500 600 700 800 900
0
20
40
60
80
100
H [m
], S
P×
1/10
[kW
]
Q [m3/h]
Eff
[%]
New ability
Traditional ability
Recent example of improving quality,up by about 5 points.
<Test calculation>5 points of efficiency (reduction of 300 kW) rose up at the measuring point (about 630m3/h).
↓1.5 mil. yen can be saved per year.(Test calculated by 6 yen per 1kWh)
Reduction of CO2 emission by 965 t per year!
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High pressure seawater feed pump for desalinating by RO
Gold Coast City
2007/04/19 Japan Industry &
Economy Newspaper
20
2007/09/14 The Nikkan
Kogyo Shimbun , Ltd.
The same type as being installed as a main pump in Dubai