May 15, 2024
FY23 Financial Results
(Fiscal Year Ended March 31, 2024)
Securities Code: 6287.T
FY23 Results & | FY24-28Medium-term | |
Management Plan | ||
FY24 Consolidated Forecasts | Japan & Overseas Initiatives | |
1
FY23 Results & | FY24-28Medium-term | |
Management Plan | ||
FY24 Consolidated Forecasts | Japan & Overseas Initiatives | |
2
Consolidated
Summary
- FY23 Results
- Consolidated sales and OI reached record highs.
-
Both overseas and Japan businesses contributed to sales.
OI was driven by overseas while Japan achieved its revised plan.
- Q4 (Jan-Mar) Results
- Consolidated sales increased YoY while OI remained flat.
The OI decline in Primary Label businesses was offset by higher profits in Asia, Oceania, and Japan. - Overseas Base business : Sales and OI increased
Overseas Primary business: Sales increased but OI decreased
Japan business: Sales were flat and OI increased
- Overseas Base business : Sales and OI increased
- OI overseas exceeded its plan. Japan was in line with plan.
- Asia and Oceania performed well versus plan.
- Outlook for FY24
- Consolidated sales and OI are forecasted to mark record highs.
3
Consolidated | FY23 |
Sales and OI by Business Segment
Auto-ID | Total Sales | ||
Solutions | |||
Operating | |||
business | |||
Income | |||
Total Sales | |||
Overseas | |||
Operating | |||
Income | |||
Total Sales | |||
Japan | |||
Operating | |||
Income | |||
Consolidated | Total Sales | ||
(incl. eliminations) | Operating | ||
Income | |||
FY23
143,446
(127,447)
9,968
(6,200)
67,931
(51,933)
8,243
(4,475)
75,514
1,724
143,446
(127,447)
10,383
(6,615)
FY22
142,824
(125,157)
9,748
(6,205)
68,657
(50,990)
7,111
(3,568)
74,166
2,637
142,824
(125,157)
8,841
(5,297)
(Millions of JPY) | |
YoY | |
excl. FX impact | |
+0.4% | +3.2% |
(+1.8%) | (+1.1%) |
+2.3% | +21.4% |
(-0.1%) | (+11.2%) |
-1.1% | +4.8% |
(+1.8%) | (-0.0%) |
+15.9% | +42.8% |
(+25.4%) | (+46.1%) |
+1.8% | +1.8% |
-34.6% | -36.2% |
+0.4% | +3.2% |
(+1.8%) | (+1.1%) |
+17.4% | +38.6% |
(+24.9%) | (+38.0%) |
* Figures in parentheses exclude the Russian subsidiaries.
4
Consolidated | FY23 |
Consolidated Results
FY23 | |
Net Sales | 143,446 |
(127,447) | |
Operating | 10,383 |
Income | (6,615) |
Operating Income % | 7.2% |
(5.2%) | |
Ordinary Income | 8,961 |
(5,716) | |
Profit attributable to | 3,565 |
owners of parent | (1,578) |
Effective Tax Rate | 25.8% |
EBITDA* | 15,456 |
(11,165) | |
(Millions of JPY) | ||
FY22 | Change | |
YoY | ||
142,824 | +621 | +0.4% |
(125,157) | (+2,290) | (+1.8%) |
8,841 | +1,541 | +17.4% |
(5,297) | (+1,317) | (+24.9%) |
6.2% | +1.0pt | - |
(4.2%) | (+1.0pt) | - |
9,068 | -106 | -1.2% |
(5,391) | (+324) | (+6.0%) |
4,184 | -619 | -14.8% |
(1,987) | (-409) | (-20.6%) |
30.6% | -4.8pt | - |
13,961 | +1,494 | +10.7% |
(9,710) | (+1,454) | (+15.0%) |
Average exchange rates for FY23: JPY 144.58 /USD, JPY 156.74 /EUR, FY22: JPY 135.49 /USD, JPY 140.98 /EUR
FX sensitivity for FY23: JPY +503million in sales and JPY +19million in OI for +1 JPY against USD and assuming all others move by the same ratio
- EBITDA = Operating Income + Depreciation + Amortization ・Depreciation for FY23: JPY 4,926 million (4,404 million)
・Amortization for FY23: JPY 146 million (146 million)
FY22: JPY 4,855 million (4,148 million)
FY22: JPY 264 million (264 million)
* Figures in parentheses exclude the Russian subsidiaries. | 5 |
Consolidated
Sales and OI by Business Segment
Jan-Mar
(Millions of JPY)
Auto-ID Solutions business
Overseas
Japan
Consolidated (incl. eliminations)
Total Sales
Operating
Income
Total Sales
Operating
Income
Total Sales
Operating
Income
Total Sales
Operating
Income
FY23 Jan-Mar
36,031 (32,257)
2,139 (1,421)
16,725 (12,951)
1,238 (520)
19,305
901
36,031 (32,257)
2,295 (1,577)
FY22 Jan-Mar
34,489 (30,748)
2,039 (1,034)
15,153 (11,411)
1,445 (440)
19,336
594
34,489 (30,748)
1,760 (755)
YoY
+4.5% (+4.9%) +4.9% (+37.4%) +10.4% (+13.5%) -14.3% (+18.2%)
-0.2%
+51.5%
+4.5% (+4.9%) +30.4% (2.1x)
excl. FX impact +3.6% (+2.7%) +9.0% (+42.9%) +8.5% (+7.6%) -7.4% (+35.1%)
-0.2%
+48.7%
+3.6% (+2.7%) +35.2% (2.2x)
* Figures in parentheses exclude the Russian subsidiaries.
6
Consolidated | Jan-Mar |
Consolidated Results
FY23 | |
Jan-Mar | |
Net Sales | 36,031 |
(32,257) | |
Operating | 2,295 |
Income | (1,577) |
Operating Income % | 6.4% |
(4.9%) | |
Ordinary Income | 1,194 |
(709) | |
Profit attributable to | (1,241) |
owners of parent | (-1,538) |
EBITDA* | 3,633 |
(2,763) | |
(Millions of JPY) | ||
FY22 | Change | |
Jan-Mar | YoY | |
34,489 | +1,541 | +4.5% |
(30,748) | (+1,508) | (+4.9%) |
1,760 | +535 | +30.4% |
(755) | (+822) | (2.1x) |
5.1% | +1.3pt | - |
(2.5%) | (+2.4pt) | - |
1,391 | -197 | -14.2% |
(863) | (-154) | (-17.9%) |
(932) | -308 | - |
(-1,223) | (-314) | - |
2,970 | +662 | +22.3% |
(1,817) | (+945) | (+52.0%) |
* EBITDA = Operating Income + Depreciation + Amortization | ||
・Depreciation for Jan-Mar FY23: JPY 1,300 million (1,148 million) | Jan-Mar FY22: JPY | 1,182million (1,034 million) |
・Amortization for Jan-Mar FY23: JPY 37 million (37 million) | Jan-Mar FY22: JPY | 27 million (27 million) |
* Figures in parentheses exclude the Russian subsidiaries. |
7
Auto-ID Solutions Business (Overseas)
Jan- Mar
Overview
Labor shortage-related demand was captured by SATO's solutions.
Sales increased, partly due to the completion of inventory adjustments for printers at distributors in the U.S. and Europe. OI decreased due to intensified competition in Russia and the impact of applying hyperinflationary accounting standards in Argentina.
FY23 | FY22 | Change | |||
Jan-Mar | Jan-Mar | YoY | excl. FX impact | ||
Total Sales | 16,725 | 15,153 | +1,572 | +10.4% | +8.5% |
(12,951) | (11,411) | (+1,539) | (+13.5%) | (+7.6%) | |
Gross Profit | 6,306 | 5,761 | +544 | +9.5% | - |
(4,949) | (4,181) | (+768) | (+18.4%) | - | |
Gross Profit % | 37.7% | 38.0% | -0.3pt | - | - |
(38.2%) | (36.6%) | (+1.6pt) | - | - | |
Operating Income | 1,238 | 1,445 | -207 | -14.3% | -7.4% |
(520) | (440) | (+80) | (+18.2%) | (+35.1%) | |
Operating Income % | 7.4% | 9.5% | -2.1pt | - | - |
(4.0%) | (3.9%) | (+0.2pt) | - | - | |
FY23 | FY22 | Change | |||
YoY | excl. FX impact | ||||
Total Sales | 67,931 | 68,657 | -725 | -1.1% | +4.8% |
(51,933) | (50,990) | (+942) | (+1.8%) | (-0.0%) | |
Gross Profit | 27,719 | 25,255 | +2,464 | +9.8% | - |
(21,185) | (19,307) | (+1,878) | (+9.7%) | - | |
Gross Profit % | 40.8% | 36.8% | +4.0pt | - | - |
(40.8%) | (37.9%) | (+2.9pt) | - | - | |
Operating Income | 8,243 | 7,111 | +1,131 | +15.9% | +42.8% |
(4,475) | (3,568) | (+907) | (+25.4%) | (+46.1%) | |
Operating Income % | 12.1% | 10.4% | +1.8pt | - | - |
(8.6%) | (7.0%) | (+1.6pt) | - | - | |
* Figures in parentheses exclude the Russian subsidiaries. | 8 |
Auto-ID Solutions Business (Overseas)
Major Gains/Losses in OI
(Millions of JPY)
Jan-Mar | +772 | -436 | ||
• | Negative factors | (+545) | (-73) | |
• | Positive factors |
-443
(-318) | -100 |
(-74) |
1,445
- • Europe and The Americas primary labels
- Factories
- Asia/Oceania
- Europe and The Americas primary labels
• | Asia/Oceania | • | The Americas primary labels | 1,238 |
• | Europe primary labels | |||
• | Factories | (520) | ||
FY23
7,111
(3,568)
- Europe and The Americas primary labels
- Europe
+1,947
(+740)
+2,662 | -1,569 | |
(+1,253) | (-348) | |
• Europe and The Americas | • | Europe |
• | Europe primary labels | |
primary labels | • | The Americas |
• The Americas |
-1,908
(-738)
- Europe and The Americas primary labels
8,243
(4,475)
Excludes exchange rate effects
* Figures in parentheses exclude the Russian subsidiaries. Comments shown in the bubble include the Russian subsidiaries. | 9 |
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Disclaimer
SATO Holdings Corporation published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 11:28:05 UTC.