Securities code: 6770
Financial year ending March 31, 2024
Results Briefing FY2023 2Q
Monday, October 30, 2023
Today's Speakers
Representative Director | Director |
CEO/CTO | CFO |
Hideo Izumi | Satoshi Kodaira |
© 2023 ALPS ALPINE CO., LTD. All rights reserved. 1
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FY2023 2Q Financial Results
FY2023 Financial Results Forecast
Initiatives to Enhance Corporate Value
Reference Data
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FY2023 2Q Financial Results
FY2023 Financial Results Forecast
Initiatives to Enhance Corporate Value
Reference Data
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Financial year ending March 31, 2024
2Q Consolidated cumulative period result
[Unit: 100 million yen]
[Sales] Sales increased primarily due to the depreciation of the yen, a recovery in automobile production and the positive impact of new products despite
continued weakness in the consumer market.
[Operating Income] Despite progress in price optimization, operating income decreased primarily due to the negative impact of changes in the product mix in the mobile market and the failure to achieve the targeted yield rate for the launch of new module products in Europe.
FY2022 2Q | FY2023 2Q |
YoY
Results(Cumulative) Results(Cumulative)
act of exchange r
Net Sales | 454.2 | 475.0 | +20.7 | +18.3 |
100.0% | 100.0% | +4.6% | ||
Operating | 19.9 | 10.6 | -9.2 | +3.7 |
Income | 4.4% | 2.2% | -46.6% | |
Ordinary | 26.8 | 16.9 | -9.9 | |
Income | 5.9% | 3.6% | -37.0% | |
Profit Attributable | 17.4 | 6.7 | -10.7 | |
to Owners of | ||||
Parent | 3.8% | 1.4% | -61.5% | |
Includes foreign exchange gains of 4.3
billion yen in the current period
USD / JPY | 133.97 | 141.00 | +7.03 |
EUR / JPY | 138.73 | 153.39 | +14.66 |
CNY / JPY | 19.88 | 19.75 | -0.13 |
Logistics segment to be accounted for using equity method from 2Q FY2023
© 2023 ALPS ALPINE CO., LTD. All rights reserved. 4
Factors behind Increase/Decrease in Operating Income
[Unit: 100 million yen]
Effect of | Major up and downs | ||
Net | exchange rates | (-) Product mix change | |
sales | Variable | Material cost increase | |
cost | |||
Extra cost for new product launch | |||
(+) Price optimization | |||
Fixed cost | |||
(Labor costs, various | |||
expenses and R&D costs) | |||
Depreciation | |||
expenses | |||
Major up and downs | Others | Logistics | |
segment | |||
(+) Car production recovery | |||
(Accounted for | |||
Increase new products for cars | by the equity | ||
method) |
(-) Products for mobile market
Major up and downs
(-) Wages, Energy cost increase Extra cost for new product launch
(+) R&D cost decrease
FY2022 2Q
Cumulative Financial | YoY -9.2 |
Results |
FY2023 2Q
Cumulative Financial
Results
© 2023 ALPS ALPINE CO., LTD. All rights reserved. 5
Net Sales and Operating Income by Segment
FY2022 2Q | FY2023 2Q | YoY | [Unit: 100 million yen] | |
Net Sales | ||||
Results (Cumulative) | Results (Cumulative) | |||
Component | 160.0 | 150.4 | -9.5 | -6% |
Sensor & Communication | 44.4 | 40.7 | -3.7 | -8% |
Module & System | 221.5 | 274.3 | +52.8 | 24% |
Others | 28.2 | 9.4 | -18.8 | Logistics segment to be accounted for |
using equity method from 2Q FY2023 | ||||
Total | 454.2 | 475.0 | +20.7 | 5% |
Operating Income | FY2022 2Q | FY2023 2Q | YoY | |
Results (Cumulative) | Results (Cumulative) | |||
Component | 21.7 | 10.7 | -11.0 | -51% |
13.6% | 7.1% |
Sensor & Communication | 0.7 | -1.4 | -2.2 |
1.6% | -3.7% | ||
Module & System | -5.2 | 0.5 | +5.8 |
-
-
-2.4% | 0.2% | ||
Others / Eliminations | 2.6 | 0.8 | -1.8 |
Total | 19.9 | 10.6 | -9.2-47% |
4.4% | 2.2% | ||
© 2023 ALPS ALPINE CO., LTD. All rights reserved. 6
Component Segments
Net sales | 150.4 billion yen (YoY -9.5 billion yen) | [Unit: 100 million yen] |
(-) Decreased in products for mobile market | -13.0 | |
(-) Decreased in products for consumer market | -3.0 | |
160.0 | 150.4 | +7.0 |
(+) Weaker yen |
FY2022 1H | FY2023 1H | |
Operating income | 10.7 billion yen (YoY -11 billion yen) | |
13.6% | Operating margin: 7.1% | |
(-) Change in the product mix | -9.0 | |
(-) Decreased in net sales | -6.0 | |
7.1% | ||
21.7 | (+) Weaker yen | +3.5 |
(+) Decreased in depreciation expenses | +2.0 | |
10.7 |
FY2022 1H | FY2023 1H | © 2023 ALPS ALPINE CO., LTD. All rights reserved. 7 |
Sensor & Communication Segments
Net sales | [Unit: 100 million yen] | |||
40.7 billion yen (YoY -3.7 billion yen) | ||||
(-) Product replacement for mobile market | -5.0 | |||
(-) Products for consumer and other markets | -1.5 | |||
44.4 | 40.7 | (+) Products for in-vehicle use | +1.5 | |
(+) Weaker yen | +1.5 | |||
FY2022 1H | FY2023 1H | |||
Operating income | 1.4 billion yen (YoY -2.2 billion yen) | |||
1.6% | Operating margin: -3.7% | |||
0.7 | (-) Decreased in sales of products for mobile market | -1.5 | ||
-1.4 | Increased in R&D expenses as advanced | -0.7 | ||
(-) | ||||
investment | ||||
-3.7% |
FY2022 1H | FY2023 1H | © 2023 ALPS ALPINE CO., LTD. All rights reserved. 8 |
Module & System Segments
Net sales | [Unit: 100 million yen] | |
274.3 billion yen (YoY +52.8 billion yen) | ||
(+) | Recovery of car production and sales increased by | |
+42.8 |
new product
274.3
221.5
FY2022 1H | FY2023 1H |
Operating income
0.5
0.2%
-5.2
-2.4%
(+) Weaker yen | +10.0 |
500 million yen (YoY +5.8 billion yen) Operating margin: 0.2%
Sales increase, Product mix change (unprofitable | |
products decreased) | |
(+) Delayed execution of some R&D costs to the second half | +12.5 |
of the fiscal year or later | |
Progress of price optimization in response to material | |
(+) cost increase | +6.0 |
(-) Increase of new module product launch cost for EU | -4.0 |
(-) Additional royalties for past years on system products | -2.0 |
FY2022 1H | FY2023 1H | © 2023 ALPS ALPINE CO., LTD. All rights reserved. 9 |
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Alps Electric Co. Ltd. published this content on 30 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2023 06:17:20 UTC.