GS Yuasa : Fiscal Year Ended March 31, 2023 (FY2022) Result Briefing (6.5MB)

Fiscal year Ended March 31, 2023 (FY2022)

Result Briefing

May 16, 2023

GS Yuasa Corporation

Contents

FY2022 Financial Results
Point of FY2022 Financial Results	4
1. Net Sales, Profits …………………………………………	5
2. Segment Results …………………………………………	8
- Automotive Batteries (Japan)	9
- Automotive Batteries (Overseas)	11
- Industrial Batteries and Power Supplies	13
- Automotive Lithium-ion Batteries	15
- Specialized Batteries and Others	16
3. Balance Sheet ………………………………………………	17
4. Cash Flow Statements ………………………………	18
5. Capital Investment, Depreciation, R&D Costs	19

FY2023 Financial Forecast & Initiatives
Point of FY2023 Financial Forecast	21
1.	Net Sales, Profits Forecast	………………………	22
2.	Segment Results Forecast	………………………	24
	- Automotive Batteries (Japan)		25
	- Automotive Batteries (Overseas)	26
	- Automotive Batteries		27
	- Industrial Batteries and Power Supplies	28
	- Automotive Lithium-ion Batteries	30
	- Specialized Batteries and Others	33
3. Capital Investment, Depreciation, R&D Costs	34
4.	Financial Status ……………………………………………	35

FY2022 Financial Results

Point of FY2022 Financial Results

FY2022 Financial Results (Apr. - Mar.)

	FY2021	FY2022	Difference	Change
Net sales	432.1 billion yen	517.7	billion yen	+85.6 billion yen	+19.8 %
Operating income	22.7 billion yen	31.5	billion yen	+8.8 billion yen	+39.0 %
Operating income before amortization	23.9 billion yen	32.1	billion yen	+8.2	billion yen	+34.5	%
of goodwill
Ordinary income	24.7 billion yen	24.2	billion yen	-0.5	billion yen	-1.9	%
Profit	8.5	billion yen	13.9	billion yen	+5.4 billion yen	+64.5 %
Profit before amortization of goodwill	9.5	billion yen	14.4	billion yen	+4.9	billion yen	+52.0	%

Performance Trends

• Net sales and operating income mainly reflects an increase in sales volume of lithium-ion batteries for hybrid vehicles and the effect of the consolidation of Turkish site as well as the effect of yen depreciation on foreign exchange rate.
• Ordinary profit remained at the same level as the previous year despite deterioration in the share of profit from entities accounted for using the equity method such as the site in China and increased interest expenses.
• Profit attributable to owners of parent increased due mainly to the recording of non-current assets, gain on sale of investment securities, etc.

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© 2023 GS Yuasa International Ltd. All Rights Reserved.

1. Net Sales, Profits

							(Billion yen)
							[Reference]
	FY2021	FY2022	Change	(YoY%)
		Nov. 2022 forecast
Net sales	432.1	Record	517.7	+85.6	(+19.8%)		520.0
Operating income	22.7	Record	31.5	+8.8	(+39.0%)		28.0
(Operating income ratio)	5.2%		6.1%	+0.9P			5.4%
Operating income before amortization of goodwill	23.9	Record	32.1	+8.2			29.0
(Operating income ratio before amortization of goodwill)	5.5%		6.2%	+0.7P			5.6%
Ordinary income	24.7		24.2	-0.5	(-1.9%)		28.0
Extraordinary income	2.4		6.9	+4.5			-
Extraordinary loss	7.8		4.0	-3.8			-
Profit before income taxes	19.2		27.1	+7.9			-
Income taxes	6.7		8.6	+1.9			-
Profit attributable to non-controlling interests	4.1		4.6	+0.5			-
Profit	8.5	Record	13.9	+5.4	(+64.5%)		12.0
(Profit ratio)	2.0%		2.7%	+0.7P			2.3%
Profit before amortization of goodwill	9.5		14.4	+4.9			13.0
(Profit ratio before amortization of goodwill)	2.2%		2.8%	+0.6P			2.5%
Domestic lead price quote (¥10,000/t)	31.64		34.66	+3.02			34.0
LME (US$/t)	2,283		2,105	-178			1,950
Exchange rate (¥/US$)	113.04		136.00	+22.96			142.5
Annual dividend (¥/share)	¥50		¥50 (Plan)	±¥0			¥50 (Plan)
Purchase of treasury stock	-		-	-			-
Total return ratio	42.4%		27.9%	-14.5P			-
Return on equity (ROE)	4.6%		6.5%	+1.9P			-
Return on invested capital (ROIC)	9.7%		11.4%	+1.7P			-

Notes:	1. ROE and total return ratio are based on profit before amortization of goodwill.
	2. ROIC is calculated as follows: Invested capital (fixed assets [excl. goodwill amortization] + working capital) / Operating income before amortization of goodwill. Invested capital is the average of amount at
	beginning and end of term.

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© 2023 GS Yuasa International Ltd. All Rights Reserved.