fy2018 consolidated financial results - aisin.com · 138.8 22.5 4.5 56.4 +5.0 7.8 169.8 fx 2.8 5.0...

FY2018

Consolidated Financial Results

April 27th, 2018

AISIN SEIKI Co., Ltd.

1

1.Consolidated Operating Results (FY2018) P.2-8

2.Consolidated Operating Forecast (FY2019) P.9-13

3.Reference information P.14-24

Contents

2

1.Consolidated Operating Results (FY2018)

１．Revenue for FY2018 reached 3,908.9 billion yen, which is the

highest ever before, due to favorable AT and Body parts sales,

and the contribution of newly consolidated Art Metal Mfg. Co.,

Ltd. group.

FY2018 Overview of Financial Results

2. Operating profit reached 253.8 billion yen, which is also the

highest ever before, due to the increase of sales and FX trend

etc. , in spite of the rise in material price, the increase of

depreciation cost and extraordinary gain from stock swap

with SHIROKI Corporation last year.

3. Regarding FY2019 forecast, revenue is predicted to reach

3,980.0 billion yen which is higher than FY2018, due to the

increase of AT sales. Operating profit is predicted to be 255.0

billion yen, which is almost same as FY2018, due to the

unfavorable factors such as the increase of depreciation and

R&D cost and FX loss, in spite of the increase of sales.

3

(billion yen)

FY2017 FY2018 Change

Results Rate to

sales % Results

Rate to

sales % Amount %

Revenue 3,562.6 - 3,908.9 - +346.3 +9.7

Operating Profit 228.6 6.4 253.8 6.5 +25.2 +11.0

Profit before

income taxes 237.3 6.7 268.1 6.9 +30.8 +13.0

Profit for the

period * 126.6 3.6 134.5 3.4 +7.9 +6.2

EPS 444.46 yen

- 490.22 yen

- +45.76

yen +10.3

FX Rate USD 109 yen USD 111 yen +2 yen +1.8

CNY 16.1 yen CNY 16.8 yen +0.7yen +4.3

Toyota

production (10,000 Unit)

909 892 -17 -1.9

AT sales (10,000 Unit)

869 983 +114 +13.0

4

FY2018

Forecast

in Feb

Rate to

sales %

3,860.0 -

248.0 6.4

262.0 6.8

129.0 3.3

469.40 yen

-

USD 111 yen

CNY 16.7yen

890

980

Consolidated Operating Results (FY2018)

Pre

-co

nd

itions

* Profit for the period attributable to Owners of the parent

279.1 291.5

93.9 122.1 94.1

104.7 80.1

95.8 69.2

88.6 71.0

85.4 79.1

84.6 37.4

80.7 75.2

74.6

51.3

59.9

34.2

54.9 335.4

376.5

0

200

400

600

800

1,000

1,200

1,400

1,600

FY2017 FY2018

VW&Audi

GM

PSA

BMW

FY2017 Revenue

FY2018 Revenue (+ 346.3)

Other Auto Makers sales breakdown

+12.4

+28.2

+10.6

+15.7

+19.4

+14.4

+5.5

-0.6

+8.6

+43.3

3,562.6

+20.7

+41.1

5

Sales by Customer (FY2018)

(Billion yen)

(Billion yen)

Toyota

Group

2,141.2 (60.1%)

3,908.9

Toyota

Group

2,267.1 (58.0%)

1,300.0 (36.5%)

Other

Auto Makers

Life & others

Life & others

Other

Auto Makers

121.3 (3.4%)

122.5 (3.1%)

1,519.3 (38.9%)

1,300.0

1,519.3 +219.3

Others

VOLVO

Mitsubishi

SUZUKI

Guangzhou Automobile

NISSAN

HONDA

Changan Automobile

Chinese OEMs Total

148.1⇒230.1(+82.0) (Billion yen)

138.8

22.5

4.5

56.4

7.8

169.8

2.8 5.0

55.0

21.8

0

40

80

120

160

Japan NorthAmerica

Europe China Asia& Others

FY2017 FY2018

2,073.1

568.0

309.9 360.7

250.6

2,300.7

573.0

350.4 377.7

306.9

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

2,400

Japan NorthAmerica


FY2017 FY2018

Revenue (+ 346.3) Operating Profit (+ 25.2)

+227.6

+5.0

+17.0

+56.3 -19.7

+0.5

-1.4

+14.0 +40.5

+31.0

6

Segment Information(FY2018)

(Billion yen)

FX

Impact

Other

factors

Japan - +227.6

North America +12.7 -7.7

Europe +7.5 +33.0

China +14.7 +2.3

Asia & Others +19.6 +36.7

Total +54.6 +291.7

FX

Impact

Other

factors

Japan +8.8 +22.2

North America +0.0 -19.7

Europe +0.4 +0.1

China +2.1 -3.5


Elimination - +0.8

Total +13.3 +11.9

(Billion yen)

FY2017

228.6 -20.7 +10.3

+51.5

FY2018

-14.2

7

Fluctuations for Operating Profit(FY2018)

FY2017 / FY2018

Op

era

ting

Pro

fit

Op

era

ting

Pro

fit

Bu

sin

es

s

reo

rga

niz

atio

n*

Lo

ss fro

m

ea

rthq

ua

ke

s

(FY

20

17

)

(FY

2017)

(FY

20

17

)

Insu

ran

ce

inc

om

e

204.0

+33.0 -30.7

-16.3 -1.0

240.5

Op

era

ting

Pro

fit (E

xc

ep

t

no

n-o

rdin

ary

fac

tors

)

FY

20

18

+13.3 253.8

(Billion yen)

* Gain from stock swap

with SHIROKI Corporation -19.5

Gain resulting from negative goodwill

with Art Metal MFG +1.2

Op

era

ting

Pro

fit (E

xc

ep

t

no

n-o

rdin

ary

fac

tors

)

FY

20

17

Sale

s flu

ctu

atio

n

Co

st s

tructu

re

imp

rovem

en

t

Ch

an

ge o

f m

ate

rial p

rice

Dep

recia

tion

Fix

ed

co

st &

oth

ers

FX

imp

act

(FY2017) Non-ordinary factors -24.6 billion yen

Ordinary factors +36.5 billion yen

+25.2 Billion yen

(FY2018) Non-ordinary factors +13.3billion yen

+5.5 -0.2

+6.6

+0.7

-6.8

8

Fluctuations for Operating Profit(FY2018)

FY2018(Feb 2nd Forecast) / FY2018(Result)

Op

era

ting

Pro

fit (F

ore

cast in

Feb

)

248.0

253.1 253.8 O

pera

ting

Pro

fit (E

xc

ep

t

no

n-o

rdin

ary

fac

tors

)

Op

era

ting

Pro

fit

FX

imp

act

Sale

s flu

ctu

atio

n

Ch

an

ge o

f m

ate

rial p

rice

Dep

recia

tion

Fix

ed

co

st &

oth

ers

(Billion yen)


+5.8 Billion yen

Non-ordinary factors +0.7 billion yen

FY2018

（Forecast in Feb） FY2018

(Result)

9

2.Consolidated Operating Forecast (FY2019)

FY2018 FY2019 change

Results Rate to

Revenue % Forecast

Rate to

Revenue % Amount %

Revenue 3,908.9 - 3,980.0 - +71.1 +1.8

Operating Profit 253.8 6.5 255.0 6.4 +1.2 +0.5

Profit before

income taxes 268.1 6.9 270.0 6.8 +1.9 +0.7

Profit for the

period * 134.5 3.4 133.0 3.3 -1.5 -1.2

EPS 490.22 yen

- 493.52 yen

- +3.3

yen +0.7

FX Rate USD 111 yen USD 105yen -6 yen -5.4

CNY 16.8 yen CNY 16.6 yen -0.2 yen -1.2

Toyota

production (10,000 Unit)

892 887 -5 -0.5

AT sales (10,000 Unit)

983 1,050 +67 +6.9

10

Consolidated Operating Forecast (FY2019)

(Billion yen)

Pre

-co

nditio

ns

* Profit for the period attributable to Owners of the parent

291.5 283.0

122.1 169.1

104.7 102.8

85.4 101.2

95.8 98.7

84.6 96.2 88.6 91.2 80.7 87.0 74.6 74.9 54.9

74.5 59.9

60.3

376.5

413.1

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

FY2018 FY2019

VW&Audi

PSA

BMW

GM

FY2018 Revenue

FY2019 Revenue (+ 71.1)

Other Auto Makers sales breakdown

-8.5

+47.0

-1.9

+15.8

+2.9

+11.6

+2.6

+0.3 +19.6

+6.3

+132.7

+0.4

+36.6

11

Forecast of Sales by Customer(FY2019)

3,908.9 Toyota

Group

2,267.1 (58.0%)

Life & others

Other

Auto Makers

122.5 (3.1%)

1,519.3 (38.9%)

3,980.0 Toyota

Group

2,196.0 (55.2%)

Other

Auto Makers 1,652.0 (41.5%)

Life & others 132.0 (3.3%)

(Billion yen)

(Billion yen) Chinese OEMs Total

230.1⇒282.1(+52.0)

(Billion yen)

1,652.0

1,519.3

VOLVO

SUZUKI

Mitsubishi

Guangzhou Automobile

NISSAN

HONDA Changan Automobile

Others

2,300.7

573.0

350.4 377.7 306.9

2,349.0

553.0

349.0 406.0

323.0

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

2,400

2,600

Japan NorthAmerica


FY2018 FY2019

169.8

2.8 5.0

55.0

21.8

159.8

9.9 4.5

52.9

27.9

0

40

80

120

160

Japan NorthAmerica


FY2018 FY2019

Revenue (+71.1) Operating Profit (+ 1.2)

+48.3

-20.0

+28.3 +16.1

-0.5

-2.1

+6.1 -1.4

-10.0

+7.1

12

Forecast of Segment Information(FY2019)

(Billion yen) (Billion yen)

FX

Impact

Other

factors

Japan - +48.3

North America -30.7 +10.7

Europe +0.1 -1.5

China -2.8 +31.1

Asia & Others -6.2 +22.3

Total -39.7 +110.8

FX

Impact

Other

factors

Japan -7.5 -2.5

North America -0.5 +7.6

Europe +0.0 -0.5

China -0.3 -1.8


Elimination - +0.7

Total -8.4 +9.6

FY2018

253.8

13

Forecast of Fluctuations for Operating Profit(FY2019)

FY2018 / FY2019

Op

era

ting

Pro

fit

(Fo

recast)

Op

era

ting

Pro

fit

Sale

s flu

ctu

atio

n

Co

st s

tructu

re

imp

rovem

en

t

Ch

an

ge o

f m

ate

rial p

rice

Dep

recia

tion

Fix

ed

co

st &

oth

ers

Op

era

ting

Pro

fit (E

xc

ep

t

no

n-o

rdin

ary

fac

tors

) F

Y2

01

8


Non-ordinary factors - 8.4billion yen

+1.2 Billion yen

FX

imp

act

+33.0

+36.0 -8.0

-21.6

-29.8

263.4 255.0 -8.4

(Billion yen)

FY2019 (forecast)

14

3.Reference information

81.1 82.2 88.5 102.0

60.9 68.5

73.1 78.0 12.1 15.3

18.3 23.5

FY2016 FY2017 FY2018 FY2019

68.9 72.0 74.5 78.1

65.8 69.2

80.3 92.0 19.3 18.0

20.1 22.2

FY2016 FY2017 FY2018 FY2019

Others

ADS-G

AW-G

AISIN SEIKI-G

105.5 102.8 122.5

184.0

123.2 72.3

87.3

155.0 23.7

39.7

19.0

36.0

FY2016 FY2017 FY2018 FY2019

237.4

294.1

390.0

260.3

15

Capital Expenditure/Depreciation/ R&D Expenditure

Capital Expenditure Depreciation R&D Expenditure

(Billion yen)

186.1 197.1 213.4

235.0

(Forecast) (Forecast) (Forecast)

162.6 167.7 182.9

200.0 (5.0%)

(4.7%) (5.0%)

(4.7%)

（）: Rate to sales

74 73 74 70

80 83 76 74

80 76 81 75

80 81 83 88

FY2016 FY2017 FY2018 FY2019(Forecast)

4Q

3Q

2Q

1Q

314

146 153 143 145

152 148 147 151

140 151 151 150

135 144 137 134


220 226 217 215

232 231 223 225

220 227 232 225

215 225 220 222


887 887 909

16

892

Toyota car production

Toyota Domestic production

Toyota Oversea production

Toyota global production

(10,000 Unit)

313 314 307

573 596 578 580

31 44 43 29

45 45 38

43 47 46

46 46

0

50

100

150

200


180 204 233 172 207 234 194

224 258 191

234 258

0

200

400

600

800

1,000


37 42 42

41 39 34

43 45 48

39 39 40

0

50

100

150

200


869 737

1,050

165 160 159

178

144 160

15 16 13

19 14 13

13 12 13

14 13 14

0

20

40

60

80


53 61 61

55

17

983 164

181

Sales Number

AT sales

Navigation System sales

MT sales

Navigation Soft sales

(10,000 Unit) (10,000 Unit)

(10,000 Unit) (10,000 Unit)

Yearly

130 132 119

130

105 120

109 111

70

95

120

145

EUR

USD

16.6 18.8 16.1 16.8

3.4 3.4 3.1 3.4

0.0

5.0

10.0

15.0

20.0

25.0


CNY

THB

18

Foreign Currency Exchange Rate

Foreign Exchange Rate

Impacts on

Operating Profit Forex Impact on Operating

profit per 1(or 0.1) yen

(yen)


USD 1.27 1.34 1.13 1.23

EUR 0.13 0.17 0.19 0.15

THB * 0.80 0.81 1.26 1.41

CNY * 0.54 0.79 0.81 0.88

(Billion yen)

* Impacts of THB and CNY are per 0.1yen.

0

30

60

90

120

150

180

0

30

60

90

120

150

0

600

1,200

1,800

◆

0

500

1,000

1,500

2,000

19

◆

◆ ◆

4.7%

◆

◆ ◆ 7.9%

◆

Financial Results of the Main Consolidated Companies Ⅰ

AISIN SEIKI Group

AISIN AW Group

1,503.0 1,641.9

70.8 80.5

1,776.2

78.0 70.0

1,680.0


(Billion yen)

(Billion yen)

(Billion yen)

(Billion yen)


1,276.6

101.0 122.9

1,431.1 1, 621.2

141.9

1,720.0

147.0

4.9% 4.4% 4.2%

8.6% 8.8% 8.5%

0

2

4

6

8

10

12

0

10

20

30

0

50

100

150

200

0

100

200

300

400

20

◆

◆

◆

◆

4.3% 3.2%

4.5% 4.1%

◆

◆

◆

◆

3.4%

1.0%

5.3%

0.0%

AISIN Takaoka Group

AISIN AI Group



8.8

275.9 273.0

12.3

295.7

11.9 13.0

300.9

(Billion yen)

(Billion yen)

133.9 137.8

1.3 0.0

154.7 8.1

156.9

5.4

(Billion yen)

(Billion yen)

Financial Results of the Main Consolidated Companies Ⅱ

0

5

10

15

20

25

0

200

400

600

800

21

◆

◆

◆

◆

2.7%

1.7% 1.1% 1.7%


ADVICS Group

(Billion yen) (Billion yen)

551.6 555.4

9.2 6.1

586.5

10.1

551.2 14.8

Financial Results of the Main Consolidated Companies Ⅲ

707.0 727.8 756.4 773.2 771.2 792.2 843.5 838.9 838.6 858.8 907.5 957.5 917.0 938.0 1,023.5 1,030.2

223 231 223 222 220

232 220 215

226 231 227 225 217 223 232

220

0

50

100

150

200

250

0

600

1,200

1,800

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

38.4 32.0

44.9 50.5

33.1 43.7

62.0 53.7

59.0

35.7

67.3 66.4

53.5 54.4

77.6 68.1

5.4%

4.4%

5.9% 6.5%

4.3%

5.5%

7.4%

6.4% 7.0%

4.2%

7.4% 6.9%

5.8% 5.8%

7.6%

6.6%

0.0%

2.0%

4.0%

6.0%

8.0%

0

30

60

90

120

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q22

Quarterly Performance

Operating Profit

Revenue

* The results of FY2015 are based on JGAAP and the others are based on IFRS.

FY2015 FY2016 FY2017 FY2018

FY2015 FY2016 FY2017 FY2018

(10,000 Unit) (Billion yen)

(Billion yen)

1,434.8 1,529.7 1,563.4 1,682.5 1,697.5

1,865.0 1,855.1 2,053.8

454 445 451 436 457 452 440 452

0

120

240

360

480

0

600

1,200

1,800

2,400

3,000

1st H 2nd H 1st H 2nd H 1st H 2nd H 1st H 2nd H

70.5

95.5

76.8

115.8

94.8

133.8

108.0

145.7

4.9%

6.2%

4.9%

6.9%

5.6%

7.2%

5.8%

7.1%

0.0%

2.0%

4.0%

6.0%

8.0%

0

30

60

90

120

150

180

1st H 2nd H 1st H 2nd H 1st H 2nd H 1st H 2nd H23

Half Yearly Performance * The results of FY2015 are based on JGAAP and the others are based on IFRS.

Operating Profit

Revenue

(Billion yen) (10,000 Unit)

(Billion yen)

FY2015 FY2016 FY2017 FY2018

FY2015 FY2016 FY2017 FY2018

35 45 50 50 60 60

60 50 50 75

90 90

29.7%

34.7%

28.2% 28.1% 30.6% 30.4%

0%

5%

10%

15%

20%

25%

30%

35%

0

50

100

150

200

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019…24

Dividend per Share * The results before FY2015 are based on JGAAP and the others are based on IFRS.

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

(Forecast)

Interim 35 45 50 50 60 60

Year-end 60 50 50 75 90 90

Total 95 95 100 125 150 150

Dividend Payout Ratio 29.7% 34.7% 28.2% 28.1% 30.6% 30.4%

Repurchase of Treasury

Stock (billion yen) 0.0 0.0 0.0 49.0 59.4 －

Total return Ratio(*) 29.7% 34.7% 28.2% 66.5% 74.5% －

Div

ide

nd

(yen)

(*) Total return Ratio= (Cash dividend paid + repurchase of treasury Stock) / Profit for the period

95 95 100

125

150 150

fy2018 consolidated financial results - aisin.com · 138.8 22.5 4.5 56.4 +5.0 7.8 169.8 fx 2.8 5.0...

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