DAIDO METAL CO., LTD. Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.
August 5, 2021 Daido Metal Co., Ltd.
FY2021 First Quarter Consolidated Financial Results Highlights
1．Overview | (Unit: JPY Million) | ||||||
1st Quarter (YTD) | Actual | Year-on-year comparison | Forecast | ||||
Financial Results | 2020/6 | 2021/6 | Amount | % | 2021/9 | 2022/3 | |
Net sales | 18,870 | 24,995 | 6,124 | 32.5% | 50,000 | 92,000 | |
Operating profit | -1,054 | 1,399 | 2,454 | ― | 2,200 | 3,500 | |
(Operating margin) | (-5.6%) | (5.6%) | ― | ― | (4.4%) | (3.8%) | |
Ordinary profit | -1,403 | 1,403 | 2,806 | ― | 2,100 | 3,200 | |
(Ordinary income margin) | (-7.4%) | (5.6%) | ― | ― | (4.2%) | (3.5%) | |
Profit attributable to owners of parent | -1,151 | 726 | 1,878 | ― | 850 | 1,700 | |
(Net profit margin) | (-6.1%) | (2.9%) | ― | ― | (1.7%) | (1.8%) | |
Return on Equity (ROE) | *1 | -8.4% | 5.1% | 13.5% | ― | ― | ― |
Net assets to total assets | 33.1% | 36.4% | 3.3% | ― | ― | ― | |
Net interest bearing debt | 37,334 | 33,810 | - 3,524 | - 9.4% | ― | ― | |
Capital Expenditure | 1,688 | 1,368 | - 320 | - 19.0% | ― | 7,700 | |
Depreciation | 2,088 | 2,282 | 193 | 9.3% | ― | 9,400 | |
R&D expenses | 451 | 476 | 25 | 5.5% | ― | 2,000 | |
Number of consolidated subsidiaries | 33 | 33 | 0 | ― | ― | ― | |
Exchange rate (USD) | 108.83 | 110.71 | Exchange rate is TTM rate | 110.58 | 105.00 | ||
Exchange rate (EUR) | 119.55 | 129.80 | as of March 31. | 131.58 | 126.00 | ||
*1 | Annualized | TTM rate as of June 30. |
2．Consolidated Financial Results/Capital Expenditure and Depreciation
≪Causes of Fluctuation in Operating profit≫ | (Unit: JPYBillion) |
≪Dividend/ Dividend Payout Ratio≫ | (Unit: JPY) | |||||
2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | ||
Interim | 15 | 15 | 20 (*1) | 10 | 10 | (*2) |
Year-end | 15 | 15 | 15 | 10 | 15 | (*2) |
Annual | 30 | 30 | 35 | 20 | 25 | (*2) |
Dividend | 33.3% | 32.0% | 60.1% | 888.7% 68.4% (*2) | ||
Payout Ratio | ||||||
（＊1） The interim dividend for FY2019 : Regular dividend (15 yen) + Commemorative dividend (5 yen)
（＊2） Forecast
(Unit: JPYBillion) | (Unit: JPYBillion) | (Unit: JPYBillion) | (Unit: JPYBillion) |
Net sales | Operating profit/Operating margin | Ordinary profit/Ordinary income margin | ||||||||||||||||
106.6 | 107.7 | Operating profit | Ordinary profit | |||||||||||||||
Operating margin | Ordinary income margin | |||||||||||||||||
100.1 | 92.0 | 6.2% | 6.7% | 4.2% | 3.8% | 6.4% | 6.2% | |||||||||||
84.7 | 6.6 | 7.2 | 3.7% | 3.5% | ||||||||||||||
6.8 | ||||||||||||||||||
6.6 | ||||||||||||||||||
1.6% | 1.0% | |||||||||||||||||
4.1 | 3.5 | 3.6 | ||||||||||||
3.2 | ||||||||||||||
24.9 | 1.3 | 0.8 | ||||||||||||
1.4 | ||||||||||||||
1.3 | ||||||||||||||
2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | 2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 | 2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 |
Forecast | Forecast | Forecast |
- 1 -
Capital Expenditure/Depreciation | |||||||
10.8 | 9.4 | ||||||
8.6 | 8.7 | 8.5 | 9.5 | 8.7 | 7.7 | ||
7.2 | 8.1 | ||||||
1.3 | 2.2 | ||||||
Capital Expenditure | Depreciation | Capital Expenditure | Depreciation | Capital Expenditure | Depreciation | Capital Expenditure | Depreciation | Capital Expenditure | Depreciation | ||
2018/3 | 2019/3 | 2020/3 | 2021/3 | 2022/3 |
Forecast
3．Sales and Operating profit by Segment
August 5, 2021 Daido Metal Co., Ltd.
(Before elimination of inter-segment transactions)
Net sales | Operating Profit or loss | |||||||||||||||||||||||||||||||||||||||||||||
(Unit: JPYBillion) | 14.1 | 2.2 | Net sales | Operating profit or loss | (Unit: JPYBillion) | |||||||||||||||||||||||||||||||||||||||||
2.0 | ||||||||||||||||||||||||||||||||||||||||||||||
10.4 | ||||||||||||||||||||||||||||||||||||||||||||||
9 | 1.5 | |||||||||||||||||||||||||||||||||||||||||||||
5.0 0.82 | 1.0 | |||||||||||||||||||||||||||||||||||||||||||||
4 | 0.37 | 3.4 | 2.5 0.38 | 2.5 | 2.2 | 3.2 | ||||||||||||||||||||||||||||||||||||||||
0.26 | 0.33 | 0.52 0.10 0.530.09 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||
0.0 | ||||||||||||||||||||||||||||||||||||||||||||||
-0.35 | -0.5 | |||||||||||||||||||||||||||||||||||||||||||||
-0.65 | ||||||||||||||||||||||||||||||||||||||||||||||
-1.0 | ||||||||||||||||||||||||||||||||||||||||||||||
2020/6 | 2021/6 | 2020/6 | 2021/6 | 2020/6 | 2021/6 | 2020/6 | 2021/6 | 2020/6 | 2021/6 | |||||||||||||||||||||||||||||||||||||
Non-automotive | ||||||||||||||||||||||||||||||||||||||||||||||
Automotive | Automotive | Other automotiveparts | Others * | |||||||||||||||||||||||||||||||||||||||||||
enginebearings | non-enginebearings | bearings | ||||||||||||||||||||||||||||||||||||||||||||
* "Others"includeselectrodesheetsforelectricdoublelayer capacitors,themetallicdrybearingsbusiness, pump-relatedproductsbusinesses, andreal estate leasing. business。
4．Sales and Operating profit by Region
(Before elimination of internal transactions)
Net sales | 18.2 | Operating Profit or loss | ||||||||
(Unit: JPYBillion) | (Unit: JPYBillion) | |||||||||
Net sales | Operating profit or loss | |||||||||
1.0 | ||||||||||
15 | ||||||||||
12.2 | 1.0 | |||||||||
Segment
Automotive engine bearings
Automotive non-engine bearings
Non-automotive bearings
Other automotive parts
Others
Elimination of inter-segment transactions
Net sales ratio 2021/6
55.4%
19.8%
10.0%
12.7%
2.1%
[Sales] Year-on-year comparison Amount (%)
3,620 (34.5%)
1,618 (47.1%)
-
50
(-1.9%)
966 (42.7%)
6 (1.1%)
- 36
(+)Gains (-)Losses (Unit: JPY Million)
Causes of Gains and Losses
① (+)Japan: Especially for the passenger car sales have been recovery from COVID-19 and winning over new customers. Increased orders due to recovery in demand for (China, Southeast Asia and the Middle East) in export truck market.
②(+) Japan: Orders increase due to strong demand recovery for turbocharger bearings. ③(+) North America: Strong recovery from COVID-19.④(+) China: Rebound increase due to recovery in demand from COVID-19.
⑤(+) Recovery in global automotive production from COVID-19.
⑥(-) Mainly impact of a decline in overall demand in the marine industry, despite of increasing partially in orders for low-speed diesel engines for ships by the development
of new customers and demand in China.
⑦(+) Increase orders for construction machinery sector in Asia (especially China)
and Latin America due to recovery of demand and build-up of inventories.
⑧(-)Energy sector : Orders decreased for gas and steam turbine bearings, despite of increasing also bearing assembly of hydraulic power generation by winning over new customers.
⑨(+) Formed pipes, Knock pins, NC milled parts, etc.: Increased orders for strong recovery in demand in Japan and North America and the recovery from COVID-19in China. ⑩(+) Aluminum die cast products : Automotive Industry recovery from COVID-19in Thailand.
⑪(+) Signs of recovery in demand for construction machinery and machine tools due to recovery in the Chinese, European and American economies.
[Operating Year-on-year comparison Amount (%)
1,895 (507.5%)
558 (210.0%)
- 58 (-14.9%)
299 (45.5%)
- 8 (-8.4%)
- 232
profit] (+)Gains (-)Losses (Unit: JPY Million)
Causes of Gains and Losses
(+) As sales increased on the left.
- As sales increased on the left.
- As sales increased on the left. (-) As sales decreased on the left.
⑬(+)Formed pipes, Knock pins, NC milled parts, etc.: Impact of profit improvement by productivity improvement and rationalization efforts, and increase in demand recovery.
⑭(+)Aluminum die cast products : Impact of increased due to recovery from COVID-19in Thailand and profit improvement due to efforts to reduce labor costs, etc.
10 | 7.7 | |||
5.3 | 0.40 | 0.29 | 0.5 | |
Total
6,124 (32.5%)
⑫(+) Fluctuations in exchange rate. | 2,454 |
( - ) | |
5 | 3.0 | 3.3 | 2.7 | 2.8 | |||||||||||||||||||||||||||||
0 | 0.001 | 0.02 | 0.0 | ||||||||||||||||||||||||||||||
-0.02 | |||||||||||||||||||||||||||||||||
-5 | -0.18 | ||||||||||||||||||||||||||||||||
-0.5 | |||||||||||||||||||||||||||||||||
-10 | |||||||||||||||||||||||||||||||||
-1.0 | |||||||||||||||||||||||||||||||||
-15 | |||||||||||||||||||||||||||||||||
-1.2 | |||||||||||||||||||||||||||||||||
-20 | -1.5 | ||||||||||||||||||||||||||||||||
2020/6 | 2021/6 | 2020/6 | 2021/6 | 2020/6 | 2021/6 | 2020/6 | 2021/6 | ||||||||||||||||||||||||||
Japan | Asia | North America | Europe |
[Sales] | (+)Gains (-)Losses (Unit: JPY Million) | [Operating profit] (+)Gains (-)Losses (Unit: JPY Million) | |||
Net sales ratio | Year-on-year | Year-on-year | |||
comparison | comparison | ||||
Region | Causes of Gains and Losses | Causes of Gains and Losses | |||
2021/6 | Amount | Amount | |||
(%) | (%) | ||||
Japan | 56.7% | 6,076 | (+) Same as ➀, ② above. | 2,367 | (+) Same as ⑤, ⑬ above. |
(49.8%) | ( - ) | ||||
Asia | 24.1% | 2,409 | (+) Same as ④, ⑩ above. | 596 | (+) Same as ④, ⑩ above. |
(44.9%) | ( - ) | ||||
North America | 10.3% | 300 | (+) Same as ⑤, ⑦ above. | 291 | (+) Same as ⑤ above. |
(10.0%) | ( - ) | ||||
Europe | 8.9% | 100 | (+) Same as ⑤ above. | -49 | |
(including Russia) | (3.6%) | ( - ) | |||
Elimination of | -2,761 | -751 | |||
internal transactions | |||||
Total | 6,124 | (+) Same as ⑫ above. | 2,454 | ||
(32.5%) | ( - ) | ||||
- Future prospects are prepared as information purpose only, based on the information available to us at this moment, and are under certain condition which we assumed reasonable. We will not guarantee the realization of such prospects, and actual performance fluctuates due to various factors.
- 2 -
Attachments
- Original document
- Permalink
Disclaimer
Daido Metal Co. Ltd. published this content on 05 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2021 05:05:08 UTC.
