Rinnai : Reference Data (312KB)

Financial Results of Fiscal 2024, ended March 31, 2024 Reference Data

May 9, 2024

Disclaimer

Forecasts, projections, strategies, and other forward-looking statements contained in this

document are based on information currently available to the Company and certain

assumptions that the Company believes are reasonable. Actual results may differ materially from these statements due to various risks and uncertainties. This material is

for informational purposes only and is not intended as a solicitation to trade.

©Rinnai Corporation

2

Fiscal 2024 : Income Results by Segment

（Millions of yen）

Net sales		Operating income
Fiscal 2023 Fiscal 2024	YOY	Fiscal 2023 Fiscal 2024	YOY
change	change

Japan

United States

Australia

China

South Korea

Indonesia

Others

Adjustments

Total

196,838	192,354		-2%	23,597	17,965	-24%
55,750	57,875		+4%	313	(1,197)	-
27,655	30,338		+10%	1,180	1,245	+6%
66,150	71,886		+9%	10,569	12,146	+15%
32,094	31,874		-1%	705	16	-98%
16,203	14,913		-8%	2,400	2,745	+14%
30,537	30,943		+1%	4,875	4,361	-11%
	-	-	-	(2,223)	2,078	-
425,229	430,186		+1%	41,418	39,362	-5%

©Rinnai Corporation

3

Fiscal 2024 : Sales Results by Segment

（Millions of yen）

		YOY	Water	YOY	Kitchen	YOY	Air	YOY	Commercial-	YOY		YOY
	Total	conditioning	use	Others
	change	heaters	change	appliances	change	change	change	change
		appliances	equipment
Japan	192,354	-2%	98,467	-5%	58,011	+2%	6,431	-4%	2,286	+9%	27,156	-1%
United States	57,875	+4%	51,166	+1%			3,213	+16%	354	+36%	3,140	+45%
Australia	30,338	+10%	15,679	+16%			10,400	+1%	1,973	+30%	2,285	+2%
China	71,886	+9%	66,467	+12%	3,792	-23%					1,626	-3%
South Korea	31,874	-1%	15,438	-3%	7,175	-1%			4,651	+3%	4,608	+3%
Indonesia	14,913	-8%	151	+41%	12,669	-8%			1,513	-17%	579	+13%
Others	30,943	+1%	16,468	+6%	8,846	+1%	1,700	-21%	433	+15%	3,495	-5%
Total	430,186	+1%	263,839	+2%	90,495	-1%	21,746	-1%	11,212	+5%	42,891	+2%

©Rinnai Corporation

4

Fiscal 2024 :

Main Overseas Consolidated Subsidiaries Income Results

• Millions of yen）

Net sales	YOY	Operating	%of net	Ordinary	%of net	Net income
change	income	sales	income	sales

%of net sales

Rinnai America	57,875	+4%	(1,197)	-2.1%	(1,767)	-3.1%	(1,229)	-2.1%
Rinnai Australia	30,428	+10%	1,224	4.0%	1,484	4.9%	1,056	3.5%
Shanghai Rinnai	67,904	+6%	10,837	16.0%	12,879	19.0%	11,249	16.6%
Rinnai Korea	29,860	-3%	341	1.1%	687	2.3%	535	1.8%
Rinnai Indonesia	15,408	-9%	2,746	17.8%	3,094	20.1%	2,487	16.1%

©Rinnai Corporation

5

Fiscal 2024 :

Main Overseas Consolidated Subsidiaries Sales Results

• Millions of yen）

Total

YOY	Water	YOY	Kitchen	YOY	Air	YOY	Commercial-	YOY
conditioning	use
change	heaters	change	appliances	change	change	change
appliances	equipment

YOY

Others change

Rinnai America

Rinnai Australia

Shanghai Rinnai

Rinnai Korea

Rinnai Indonesia

	+4%
57,875	51,166	+1%			3,213	+16%	354	+36%	3,140	+45%
	(-3% )
	+10%
30,428	15,682	+16%			10,462	+1%	1,974	+30%	2,309	+1%
	(+6% )
	+6%
67,904	62,836	+9%	3,470	-26%					1,597	-18%
	(+3% )
	-3%
29,860	16,033	-4%	7,175	-1%	21	-	4,753	+3%	1,876	-15%
	(-9% )
	-9%
15,408	159	+49%	13,079	-10%			1,560	-17%	608	+12%
	(-13% )

Note:（ on a local currency basis）

©Rinnai Corporation

6

Overseas Consolidated Subsidiaries: FX Impact

*Below shows difference between actual Fiscal 2024 local-currency results and results if previous year's exchange rates were used.

FX impact: ¥ millions

Rate: ¥

Rinnai America

Rinnai Australia

Shanghai Rinnai

Rinnai Korea

Rinnai Indonesia

Others

Total

		FY2023	FY2024	FY2024	Composition
FX impact	Currency	of overseas
avg. rate	avg. rate	assumed rate
		sales
4,024	USD	130.772	140.545	130.000	24.3%
892	AUD	90.586	93.330	90.000	12.8%
1,335	RMB	19.385	19.803	19.000	26.6%
1,638	KRW	0.1018	0.1079	0.1040	12.2%
661	IDR	0.00884	0.00925	0.00870	6.3%
2,152					17.9%
10,702					100.0%

©Rinnai Corporation

7

Fiscal 2024 :

Consolidated Capital Expenditures, Depreciation and R&D Expenses

Capital

Expenditures

			（ Millions of yen）
	FY2023 Results	FY2024 Results
	Investment	Depreciation	Investment	Depreciation
Parent company	14,934	6,397	29,678	6,959
Domestic subsidiaries	1,941	2,083	1,158	2,111
Oversea subsidiaries	9,646	4,797	10,277	5,719
Total	26,521	13,278	41,114	14,790
(Including die and mold)	3,847	3,428	3,460	3,639

R&D Expenses

	FY2023 Results	FY2024 Results
Parent Company	8,104	8,773
Consolidated subsidiaries	5,353	5,529
Total	13,458	14,302

©Rinnai Corporation

8

Fiscal 2024 : Nonconsolidated Sales Results

Domestic Sales + Export

Sales Volume	Sales Amount	FY2023
Thousand	YOY	Millions	YOY	Sales Volume	Sales Amount
Units	change	of Yen	change	(Thousand Units)	(Millions of yen)

Water heaters

Kitchen

appliances

Air conditioning

appliances

Simple hot-water units [Heating units] Bath-filling units [Heating units] Hot-water/heating systems [Heating units]

Others

Sub-total

Cooking stoves Built-in gas stoves Others

Sub-total

Fan heaters Others

Sub-total

942	-27%	40,107	-31%	1,291	57,848
			[37,364]	-32%			[55,138]
417	-25%	31,593	-16%	558	37,733
			[28,883]	-17%			[34,899]
211	-19%	40,924	-3%	261	42,404
			[21,850]	-13%			[25,008]
148	-9%	5,679	+5%	161	5,418
1,719	-24%	118,304	-18%	2,273	143,405
753	-8%	11,820	-1%	816	11,908
618	-6%	28,117	-1%	654	28,342
461	-2%	17,739	+6%	471	16,694
1,832	-6%	57,677	+1%	1,942	56,945
170	-23%	3,976	-19%	219	4,916
45	-34%	3,218	-32%	67	4,708
215	-25%	7,195	-25%	287	9,625

Commercial-use equipment Others

Total

Export

66	+8%	2,767	+12%	61	2,470
111	-4%	24,581	-18%	115	29,995
3,946	-16%	210,525	-13%	4,680	242,442
[987]	-27%	[38,242]	-41%	[1,344]	[65,298]

Note：Hybrid Hot-Water Unit is included in "Hot-water/heating systems"	©Rinnai Corporation	9

Fiscal 2024 : Nonconsolidated Sales Results

Domestic Sales (excluding Export)

Sales Volume	Sales Amount	FY2023
Thousand	YOY	Millions	YOY	Sales Volume	Sales Amount
Units	change	of Yen	change	(Thousand Units)	(Millions of yen)

Water heaters

Kitchen

appliances

Air conditioning appliances

Commercial-use equipment

Others

Total

Simple hot-water units	335	-20%	14,543	-5%	420	15,361
[Heating units]				[12,161]	-7%			[13,083]
Bath-filling units	417	-25%	31,585	-16%	558	37,718
[Heating units]				[28,883]	-17%			[34,899]
Hot-water/heating systems	201	-16%	39,822	-0%	240	39,904
[Heating units]				[20,774]	-8%			[22,542]
Others	148	-9%	5,676	+5%	161	5,411
Sub-total	1,102	-20%	91,626	-7%	1,381	98,396
Cooking stoves	565	-6%	9,757	+1%	603	9,627
Built-in gas stoves	571	-4%	26,809	-1%	594	26,953
Others	384	-1%	17,234	+7%	388	16,116
Sub-total	1,521	-4%	53,801	+2%	1,587	52,697
Fan heaters	164	-15%	3,793	-6%	192	4,056
Others	30 -10%	2,267	+0%	33	2,260
Sub-total	194	-14%	6,061	-4%	226	6,317
	40	+7%	2,071	+9%	37	1,902
	100	-3%	18,722	+5%	102	17,829
	2,958	-11%	172,283	-3%	3,335	177,144

Note：Hybrid Hot-Water Unit is included in "Hot-water/heating systems"

©Rinnai Corporation

10