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    7245   JP3491800003

DAIDO METAL CO., LTD.

(7245)
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Daido Metal : FY2020 First Quarter Consolidated Financial Results Highlights

08/07/2020 | 01:04am EDT

August 7, 2020

Daido Metal Co., Ltd.

FY2020 First Quarter Consolidated Financial Results Highlights

1Overview

1st Quarter (YTD)

Actual

Financial Results

2019/6

2020/6

Net sales

25,482

18,870

Operating profit

1,144

- 1,054

(Operating margin)

(4.5%)

(-5.6%)

Ordinary profit

1,075

- 1,403

(Ordinary income margin)

(4.2%)

(-7.4%)

Profit attributable to owners of parent

498

- 1,151

(Net profit margin)

(2.0%)

(-6.1%)

Return on Equity (ROE) 1

3.5%

- 8.4%

Net assets to total assets

35.0%

33.1%

Net interest bearing debt

40,981

37,334

Capital Expenditure

2,438

1,688

Depreciation

2,207

2,088

R&D expenses

500

451

Number of consolidated subsidiaries

33

33

Exchange rate (USD)

110.99

108.83

Exchange rate (EUR)

124.56

119.55

1 Annualized

(Unit: JPY Million)

Year-on-year comparison

Amount

%

- 6,611

- 25.9%

- 2,199

-

(-10.1%)

-

- 2,479

-

(-11.7%)

-

- 1,650

-

(-8.1%)

-

- 12.0%

-

- 1.9%

-

- 3,647

- 8.9%

- 750

-30.8%

- 119

-5.4%

- 49

-9.8%

0

-

Exchange rate is TTM rate as of March 31.

Causes of Fluctuation in Operating profit

Dividend/ Dividend Payout Ratio

(Unit: JPYBillion)

The forecast of dividends for the fiscal year ending March 31,

2021 is not available at this moment.

(Unit: JPY)

2017/3

2018/3

2019/3

2020/3

2021/3

Interim

15

15

15

20

Year-end

15

15

15

15

Not

available

Annual

30

30

30

35

Dividend

54.0%

33.3%

32.0%

60.1%

Payout Ratio

The interim dividend for FY2019

: Regular dividend (15 yen) + Commemorative dividend (5 yen)

Forecast of FY2021 financial results

As for Consolidated Financial Results for full year, forecast is not available at this moment due to uncertain circumstances caused by the worldwide spread of the new coronavirus (COVID-19). Consolidated Financial Results Forecast for full year will be announced when more detailed information is available.

2Consolidated Financial Results/Capital Expenditure and Depreciation

(Unit: JPYBillion)

(Unit: JPYBillion)

(Unit: JPYBillion)

(Unit: JPYBillion)

Net sales

Operating profit/Operating margin

Ordinary profit/Ordinary income margin

Capital Expenditure/Depreciation

106.6

107.7

8.0

7.2

Operating profit

Ordinary profit

Capital Expenditure

Depreciation

100.1

6.6

Operating margin

12.0%

8.0

6.8

Ordinary income margin

7.0

7.0

6.6

12.0%

12.3

85.0

6.0

10.0%

6.0

10.8

9.5

4.7

5.0

10.0%

8.6

8.7

8.5

5.0

4.1

5.0

7.2

8.0%

3.6

6.7

4.0

6.7%

8.0%

4.0

3.0

6.0%

6.4%

6.2%

6.0%

3.0

6.2%

5.9%

1.6

2.0

2.0

2.0

5.5%

1.0

4.0%

1.0

4.0%

18.8

4.2%

3.7%

Capital Expenditure

Depreciation

Capital Expenditure

Depreciation

Capital Expenditure

Depreciation

Capital Expenditure

Depreciation

Capital Expenditure

Depreciation

0.0

2.0%

0.0

2.0%

-1.0

-1.0

(1.0)

-5.6%

-7.4%

-1.4

-2.0

0.0%

(2.0)

0.0%

2017/3

2018/3

2019/3

2020/3

2020/6

2017/3

2018/3

2019/3

2020/3

2020/6

2017/3

2018/3

2019/3

2020/3

2020/6

2017/3

2018/3

2019/3

2020/3

2020/6

- 1 -

3Sales and Operating profit by Segment

(before elimination of inter-segment transactions)

Operating profit or loss

Net sales

Unit: JPYBillion

Unit: JPYBillion

1.6

Net sales

Operating profit or loss

15

14.4

10.4

1.5

10

0.7

1.0

5

0.3

4.5

3.4

0.3

0.3

3.7

0.5

0.2

2.4

2.5

2.2

0.1

0.1

0.6

0.5

0

0.0

-0.01

-0.5

-0.6

-1.0

2019/6

2020/6

2019/6

2020/6

2019/6

2020/6

2019/6

2020/6

2019/6

2020/6

Automotive

*

Automotive

Non-automotive

Other automotive parts

Others

engine bearings

non-engine bearings

bearings

* "Others"includes electrode sheets for electric double layer capacitors, themetallicdry bearings business, pump-related products businesses, and real estateleasing.

4Sales and Operating profit by Region

(before elimination of internal transactions)

Net sales

Operating profit or loss

Unit: JPYBillion

Unit: JPYBillion

17

17.0

12.2

Net sales

Operating profit or loss

1.1

12

7.2

0.6

7

0.4

5.3

3.3 0.2

3.0

3.5

2

0.2

0.001

0.08

2.7

0.02

0.1

-0.1

-0.4

-0.9

-1.2

-1.4

2019/6

2020/6

2019/6

2020/6

2019/6

2020/6

2019/6

2020/6

Asia

North America

Europe

Japan

August 7, 2020

Daido Metal Co., Ltd.

[Sales]

(+)Gains (-)Losses

(Unit: JPY Million)

[Operating profit] (+)Gains (-)Losses (Unit: JPY Million)

Ne t s ale s ratio

Year-on-year

Year-on-year

comparison

comparison

Segment

Causes of Gains and Losses

Causes of Gains and Losses

2020/6

Amount

Amount

(%)

(%)

(-)Japan: Significant decrease of production adjustments by passenger car

manufacturers due to COVID-19

(-)Japan: Continued decrease in demand from trucks for exports(Mainly for

(-)Decrease due to COVID-19

Southeast Asia and Indonesia)

Automotive

- 3,916

- 1,273

(+)Korea : Profit increase due to increased sales

54.3%

(-)Orders decrease for turbocharger bearings

engine bearings

(-27.2%)

(-77.3%)

/Recovered earnings

(-)China: Significant decrease by production adjustments due to COVID-19

(-)Thailand: Significant decrease of the domestic market shrink and

decrease in exports to overseas from Thailand

(+)Korea: Increase orders for small SUVs

Automotive

- 1,121

(-)Japan,China: Significant decrease of production adjustments by auto

- 460

17.8%

parts manufacturers due to COVID-19

(-)Decrease due to COVID-19

non-engine bearings

(-24.6%)

(-63.4%)

(-)Europe: Decrease in sales due to Dieselgate issue

(-)Decrease due to falling demand for low-speed diesel engines bearings

Non-automotive

99

(+)Development of ship-related businesses overseas (China and Korea)

0

(-)Decrease of low-speed diesel engines bearings

13.4%

(-)Weak demand from construction machinery sector in overseas market

bearings

(4.0%)

( - )

(+)Increase for energy sector

(China, North America, Asia)

(+)Increase orders of steam turbines for the energy sector

(-)Iino Group: Decrease due to COVID-19 globally

(-)Iino Group: Decrease due to COVID-19

Other automotive

11.7%

- 1,525

(-)Weak demand of Thailand's auto industry, decrease for alminum die

- 647

(-)Decrease in sales alminum die cast products due to

parts

(-40.2%)

cast products by the suspension of plant operations due to COVID-19 and

( - )

COVID-19 incl, increasing depreciation for DMCT

significant decrease in automobile exports to overseas from Thailand

(New factory for alminum die cast parts in Thailand)

Others

2.7%

- 96

(-)Demand decrease for special types of bearings from general industory

- 31

(-)Decrease due to COVID-19

(-15.5%)

sector

(-23.5%)

Elimination of

- 50

215

inter-segment transactions

Total

- 6,611

(-)Fluctuations in exchange rate

- 2,199

(-25.9%)

( - )

[Sales]

(+)Gains (-)Losses

(Unit: JPY Million)

[Operating profit] (+)Gains (-)Losses (Unit: JPY Million)

Ne t sale s ratio

Year-on-year

Year-on-year

comparison

comparison

Region

Causes of Gains and Losses

Causes of Gains and Losses

2020/6

Amount

Amount

(%)

(%)

(-)Japan: Significant decrease of production adjustments by passenger car

manufacturers due to COVID-19

(-)Continued decrease in demand from trucks for exports (Mainly for

(-)Decrease due to COVID-19

Southeast Asia and Indonesia)

- 4,888

- 1,546

(-)Decrease of material exports to overseas subsidiaries

Japan

52.3%

(-)Orders decrease for turbocharger bearings

(-28.6%)

(-)

due to demand decrease

(-)Decrease due to falling demand for low-speed diesel engines bearings

(-)Weak demand from construction machinery sector in overseas market

(China,North America, Asia)

(-)Iino: Substantial decrease by production adjustment due to COVID-19

(+)Korea : Profit increase due to increased sales /Recovered

(-)China: Significant decrease by production adjustments due to COVID-19

earnings

(-)Thailand: Significant decrease of the domestic market shrink

(+)Korea: Increase orders for small SUVs

- 1,921

- 659

and decrease in exports to overseas from Thailand due to

Asia

23.0%

(-)Weak demand from Thailand's auto industry, decrease for alminum die

(-26.4%)

(-)

COVID-19

cast products by the suspension of plant operations due to COVID-19 and

(-)Decrease in sales alminum die cast products due to

significant decrease in automobile exports to overseas from Thailand

COVID-19 incl, increasing depreciation for DMCT (New

factory for alminum die cast parts in Thailand)

- 378

(-)Decrease by production adjustments due to COVID-19 and decrease in

- 252

North America

12.9%

sales related to construction machinery

(-)Decrease due to COVID-19

(-11.2%)

(-99.3%)

(-)Iino Group: Decrease by production adjustments due to COVID-19

Europe

- 797

(-)Decrease due to Dieselgates issue

-64

(-)Decrease in automobile-related sales due to Dieselgate

11.9%

(-)Decrease in sales for turbocharger bearings

issue

(including Russia)

( - )

(-76.4%)

(+)Increased orders in Russia

(+)Russia: Increase in sales

Elimination of

1,374

324

internal transactions

Total

- 6,611

(-)Fluctuations in exchange rate

- 2,199

(-25.9%)

(-)

- 2 -

Disclaimer

Daido Metal Co. Ltd. published this content on 07 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2020 05:03:13 UTC


© Publicnow 2020
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Financials
Sales 2022 88 000 M 772 M 772 M
Net income 2022 1 400 M 12,3 M 12,3 M
Net Debt 2022 43 096 M 378 M 378 M
P/E ratio 2022 20,4x
Yield 2022 4,07%
Capitalization 28 568 M 251 M 251 M
EV / Sales 2022 0,81x
EV / Sales 2023 0,75x
Nbr of Employees 6 795
Free-Float 84,9%
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Technical analysis trends DAIDO METAL CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 614,00 JPY
Average target price 600,00 JPY
Spread / Average Target -2,28%
EPS Revisions
Managers and Directors
Seigo Hanji Chairman & Chief Executive Officer
Motoyuki Miyo President, COO & Representative Director
Naoki Kurita Executive Officer & Head-Financial Planning
Yoshiaki Sato Director, Head-Technology Unit & Inuyama Branch
Hirotaka Ito Executive Officer & Head-Compliance Unit
Sector and Competitors