FY2020 Financial Results Briefing

(FY2020:From April 1, 2020 to March 31, 2021)

May 27, 2021

MITSUBISHI LOGISNEXT CO., LTD.

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

FY2020 Financial Results

(FY2020:From April 1, 2020 to March 31, 2021)

President and CEO, Takashi Kubo

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

1. FY2020 Summary

Economic Market Trends

  • The global economy is on a gradual recovery trend due to the lifting of lockdowns in Europe and the United States and deregulation in the Asian region, including China, which was among the first to return to normal economic activity.
  • However, the situation is expected to remain unpredictable because of the outbreak of new variants of COVID-19 and the implementation of temporary suspension and re-lockdown of economic recovery measures due to the re-spreading of the infection.
  • In the material handling equipment market, demand for forklift trucks showed a recovery trend from around September, mainly in Europe and the United States, and recovered to the level of the same period of the previous year in some regions and months. In Japan, demand for forklift trucks recovered to nearly the same level as the same period of the previous year in the fourth quarter, although there was a delay compared to Europe and the United States.

Summary of FY2020 Results

  • Net sales decreased 12.8% YoY. Although the order status of sales recovered from the improvement of the economic environment, it did not contribute to sales due to lead time.
  • Operating profit decreased 40.0% YoY (before amortization of goodwill, etc.). Despite continued efforts to reduce fixed costs, it was not enough to offset the decrease in gross profit due to the decline in sales.

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2. Financial Highlights

Unit: Hundred million JPY

Profit and Loss

FY2019

FY2020

YOY Change

Statement

Net Sales

4,489.2

3,915.0

574.2

12.8

Operating Profit

183.3

109.9

73.4

40.0

(Before amortization of goodwill, etc.)

4.1%)

2.8%)

(Operating profit margin)

Amortization of

98.9

93.9

Goodwill

Operating Profit

84.4

15.9

68.4

81.1

(Operating profit margin)

1.9%)

0.4%)

Ordinary Profit

70.5

20.1

50.3

71.4

(Ordinary profit margin)

1.6%)

0.5%)

Profit Attributable to

52.4

26.8

Owners of Parent

(△1.2%)

(△0.7%)

(Net income margin)

FY2019 actual FX rates: USD = JPY108.74, EUR = JPY120.82, CNY = JPY15.60

FY2020 actual FX rates: USD = JPY106.06, EUR = JPY123.70, CNY = JPY15.67

Balance Sheet

FY2019

FY2020

YOY Change

Total Assets

3,736

3,635

101

2.7

Total Liabilities

3,163

3,080

84

2.6

Net Assets

573

555

18

3.1

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FY2020 Sales by Region

3. Business Results by Segment

Net Sale: Domestic sales and exports are on the road to recovery. Overseas sales declined despite a recovery trend.

Net Sales

Unit:

Domestic Business

Overseas Business

China

Hundred million JPY

5,000

4,489

& Asia

3,915

Europe

6%

4,000

17%

(7%)

3,000

2,699

(17%)

Japan

2,230

43%

2,000

(40%)

Americas

1,000

1,790

1,685

34%

(36%)

0

FY2019

FY2020

() = previous year

Operating profit (*) : Despite efforts to reduce fixed costs in all regions, this was not enough to offset the decline in gross profit due to lower sales.

Profit*

Unit:

Domestic Business

Overseas Business

Hundred million JPY

Operating

200.0

183.3

150.0

98.8

56.6

109.9

100.0

53.2

50.0

84.4

0.0

* Operating Profit before amortization of goodwill, etc. FY2019

FY2020

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FY2020 Operating Profit by Segment

Overseas Domestic

Business Business

48.4% 51.6%

(54.0%) (46.0%)

() = previous year

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Mitsubishi Logisnext Co. Ltd. published this content on 08 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2021 08:51:02 UTC.