Financial Results Briefing for FY2023
The 100th period:Apr. 1st, 2023- Mar. 31st, 2024
May 8, 2024
Contents
1.FY2023 Financial Performance
2.Consolidated Forecast FY2024
3.The Progress of Mid-term
Business Plan "NEXUS-26"
Cautionary Statement with Respect to Forward-Looking Statements
These forward-looking statements are not guarantees of future performance. It involves any risk depending on the Japanese or international economic situation, business trends related to our company, fluctuation of exchange rates and other factors. It may cause our actual performance to be materially different from any future results announced.
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1-1 FY2023 Consolidated Financial Summary
Sales volume increased due to steady automobile production, and both sales and profits reached record highs
(100 millions of yen, %) | ||||||||||||
FY2022 | FY2023 | YoY | rate | |||||||||
22/Q4 | Full Year | 23/Q4 | Full Year | Q4 | Full Year | |||||||
Results | Results | Results | Results | Gain&Loss | % Change | Gain&Loss | % Change | |||||
Sales | 478 | 1,912 | Record | 513 | Record | 2,073 | +35 | +7.4 | +160 | +8.4 | ||
High | High | |||||||||||
Operating Income | 36 | 92 | 32 | Record | 144 | △3 | △10.9 | +51 | +55.5 | |||
High | ||||||||||||
Operating Income Ratio | 7.5% | 4.9% | 6.3% | 7.0% | △1.2P | - | +2.1P | - | ||||
Ordinary Income | 46 | 132 | 44 | Record | 188 | △2 | △4.3 | +56 | +42.6 | |||
High | ||||||||||||
Ordinary Income Ratio | 9.8% | 6.9% | 8.7% | 9.1% | △1.1P | - | +2.2P | - | ||||
Net income attributable to | 31 | 93 | Record | 60 | Record | 169 | +29 | +95.7 | +76 | +82.5 | ||
owners parent | High | High | ||||||||||
Net Income margin | 6.5% | 4.9% | 11.8% | 8.2% | +5.3P | - | +3.3P | - | ||||
Average exchange rate(U.S. dollars) | ¥133.3 | ¥134.9 | ¥147.0 | ¥144.2 | ¥13.7 | - | ¥9.3 | - | ||||
• | Sales decrease since FY2022 Q4 due to expansion of offsetting range of sales and its cost; the impact of customer-received | steel materials for stamping. | ||||||||||
As a result of this, FY2023 results includes a 24.4 billion yen year-on-year decline in net sales. No | impact on income. |
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1-2 Analysis of Consolidated Results : Sales
Sales reached record highs due to the sales volume increase and the exchange conversion
(100 millions of yen) | |||||||
Material | Exchange | Selling | |||||
Price | gain | Price | 2,073 | ||||
Customer-received | Exchange | +7 | +1 | ||||
+74 | |||||||
Conversion | |||||||
steel materials | |||||||
1,912 | for stamping | +83 | |||||
Sales | |||||||
Volume | |||||||
△244 | +239 |
FY2022 | Sales +16 Billion yen | FY2023 |
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1-3 Analysis of Consolidated Results : Operating Income
Record-high profit due to increase in sales volume and cost improvement despite increase in production volume and cost increase
(100 millions of yen)
Depreciation | Selling | ||||||||
Cost | Exchange | (excl.dies) | Price | 144 | |||||
gain | +5 | +1 | |||||||
Improvement | +7 | ||||||||
Labor | Sales | +30 | |||||||
92 | Volume | ||||||||
Cost | |||||||||
△24 | Expenses | Material | |||||||
+64 | |||||||||
△17 | Price | ||||||||
△15 |
FY2022 | Operating Income + 5.1 billion yen | FY2023 |
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1-4 Consolidated Results by Business Segments
Stamping and plastic molding business increased sales and profit; valve business increased sales but profit remained flat YoY
(100 million yen,%)
FY2022 | |||
Result | |||
Stamping & | 1,368 | ||
Plastic Molding | |||
(The Impact of increased | (△51) | ||
customer-received materials for | |||
stamping) | |||
Operating Income Ratio | |||
Valves | 542 | ||
Operating Income Ratio | |||
Sales | Operating Income | |||||
FY2023 | YoY Rate | FY2022 | FY2023 | YoY Rate | ||
Result | Gain&Loss | %Change | Result | Result | Gain&Loss | %Change |
1,499 | +131 | +9.6 | 49 | 103 | +54 | +108.8 |
* | ||||||
(△295) | (△244) | |||||
3.6% | 6.9% | +3.3P | ||||
571 | +29 | +5.4 | 42 | 41 | △1 | △3.3 |
7.9% | 7.2% | △0.7P |
*Sales decrease since FY2022 Q4 due to expansion of offsetting range of sales and its cost; the impact of customer-received steel materials for stamping.
No impact on income.
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1-5 Consolidated Results by Region
Sales and profits are expected to increase in real terms in Japan, Europe and | |||||||||
the America. In Asia, sales at the same level as the previous year and profit | |||||||||
decline. | (100 millions of yen,%) | ||||||||
Sales | Operating Income | ||||||||
FY2022 | FY2023 | YoY Rate | FY2022 | FY2023 | YoY Rate | ||||
Result | Result | Gain&Loss | %Change | Result | Result | Gain&Loss | %Change | ||
Japan | 706 | 679 | △27 | △3.8 | 49 | 62 | +12 | +25.3 | |
(The Impact of increased customer- | (△51) | * | (△295) | (△244) | |||||
received materials for stamping) | |||||||||
Operating Income Ratio | 7.1% | 9.2% | +2.1P | ||||||
Europe & America | 781 | 969 | +188 | +24.2 | △1 | 43 | +44 | - | |
Operating Income Ratio | △0.2% | 4.4% | +4.6P | ||||||
Asia | 425 | 424 | △0 | △0.2 | 36 | 26 | △9 | △26.9 | |
Operating Income Ratio | 8.7% | 6.4% | △2.3P | ||||||
* Sales decrease since FY2022 Q4 due to expansion of offsetting range of sales and its cost; the impact of customer-received steel materials |
for stamping. No impact on income.
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1-6 Consolidated Quarterly Results
Profit declined from Q3 due to increased preparation costs for the start of new plant operations and amortization burden etc.
Sales
(100 millions of yen)
Operating Income | (100 millions of yen) |
Sales
increase due to yen depreciat ion
Decrease
in sales
due to the
increase
of
customer-
received materials for stamping.
Record
high for
Q1 due to
increase
in
productio n volume
Increase in sales
due to higher sales
volume and yen
depreciation
Production
lines of
some
customers
stopped
Secured
income due to improved profitability
Profit | |||
increased | Increas | ||
due to | |||
Profit | e in | ||
retroactiv | |||
decrease | dies | ||
e | |||
due to Q4 | and | ||
adjustme | |||
retroactive | molds | ||
nt of | |||
adjustment | profit | ||
selling | |||
s | |||
prices | |||
Decrease | Profit |
in dies | decreas |
and | e due to |
molds | lower |
profit. | sales |
Increase | volume |
in new | |
plant | |
costs. | |
525 | 478 | 493 | 533 | 533 | 513 | |
30
43
36
31
37
32
22/Q3 | 22/Q4 | 23/Q1 | 23/Q2 | 23/Q3 | 23/Q4 | 22/Q3 | 22/Q4 | 23/Q1 | 23/Q2 | 23/Q3 | 23/Q4 |
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Contents
1.FY2023 Financial Performance
2.Consolidated Forecast FY2024
3.The Progress of Mid-term
Business Plan "NEXUS-26"
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2-1 Full Year Forecast FY2024
Expect income decrease due to lower sales volume and higher labor cost, expenses etc.
FY2023 | FY2024 | YonY | rate | |||||||
Q2 Cumulative | Full Year | Q2 Cumulative | Full Year | Q2 Cumulative | Full Year | |||||
Results | Results | Forecast | Forecast | Gain&Loss | %Change | Gain&Loss | %Change | |||
Sales | 1,026 | 2,073 | 980 | 2,000 | △46 | △4.5% | △73 | △3.5% | ||
Operating Income | 74 | 144 | 45 | 110 | △29 | △40.0% | △34 | △23.9% | ||
Operating Income Ratio | 7.3% | 7.0% | 4.6% | 5.5% | △2.7P | - | △1.5P | - | ||
Ordinary Income | 103 | 188 | 55 | 130 | △48 | △46.8% | △58 | △31.0% | ||
Ordinary Income Ratio | 10.1% | 9.1% | 5.6% | 6.5% | △4.5P | - | △2.6P | - | ||
Current Net Income * | 75 | 169 | 45 | 100 | △30 | △40.2% | △69 | △41.1% | ||
ROE | - | 11.2% | - | 6.0% | - | - | △5.2P | - | ||
ROA(Operating income basis) | - | 5.3% | - | 3.7% | - | - | △1.6P | - | ||
Net Assets per Share | - | ¥2,840 | - | ¥2,895 | - | - | +55円 | 1.9% | ||
Average exchange rate (US dollars) | ¥139.9 | ¥144.2 | ¥145.0 | ¥145.0 | ¥5.1 | - | ¥0.8 | - | ||
* Current net income is the current net income attributable to the parent company shareholders.
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Pacific Industrial Co. Ltd. published this content on 20 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 May 2024 01:27:10 UTC.