SHIMADZU CORPORATION Shimadzu Corporation (TSE Prime Market: Securities code 7701)
1st Quarter FY 2022 (Ending March 2023) Results & Financial Position
Director, Member of the Board
Senior Managing Executive Officer, CFO August 5, 2022
Akira Watanabe
Overview of Financial Results
01 Overview of Financial Results
2
Copyright © Shimadzu Corporation. All Rights Reserved. | 1st Quarter FY 2022 (Ending March 2023) Results & Financial Position |
Summary of Results
• AMI: Analytical & Measuring Instruments, MED: Medical Systems, IM: Industrial Machinery, AE: Aircraft Equipment | |
Net sales reached a record high | ・Net sales hit a record high for the second consecutive year (exchange rate effect included). |
Operating income decreased | ・Operating income decreased due to price hikes of parts/materials and other factors. |
・AMI: Overseas sales made up for the decline in domestic sales of COVID-19-related products, | |
and AMI net sales reached a record high. Sales of LC and MS (both key models) grew in | |
AMI, MED, and IM achieved a | Europe and other Asian healthcare fields. Aftermarket business also expanded. |
record high net sales | ・MED: Sales of fluoroscopy systems and angiography systems recovered. Sales of tumor-tracking |
systems for radiotherapy were strong. | |
・IM: TMP sales for semiconductor manufacturing equipment and glass winder sales for the | |
Chinese market were both strong. |
The impact of China lockdown
・The two-month period from April was affected by the lockdown, particularly in Shanghai, which affected production partially in addition to logistics disruptions, postponement of installation and movement restrictions.
Order received also
hit a record high
・Q1 orders also hit a record high. Year-on-year + high 10% range (exchange rate effect included).
• LC: Liquid chromatographs, MS: Mass spectrometer systems, GC: Gas chromatographs, TMP: Turbomolecular pumps
3
Copyright © Shimadzu Corporation. All Rights Reserved. | 1st Quarter FY 2022 (Ending March 2023) Results & Financial Position |
Statement of Income
Net sales reached a record high. Operating income decreased due to price hikes of parts/materials and other factors. Because of an increase in foreign exchange gains and other factors, ordinary income decreased by 5%. Profit attributable to owners of parent remained flat.
Net Sales | Operating Income | Operating Margin | Profit Attributable to | ||||||||||||||||||||||||
Owners of Parent | |||||||||||||||||||||||||||
YoY: +4.3 bn yen / +5% | YoY: -3.0 bn yen / -24% | YoY: -3.6pt | |||||||||||||||||||||||||
YoY: -0.0 bn yen / -0% | |||||||||||||||||||||||||||
98.6 bn yen | 9.4 bn yen | 9.6% | |||||||||||||||||||||||||
8.7 bn yen | |||||||||||||||||||||||||||
Q1 (Apr.-Jun.) | YoY | ||||||||||||||||||||||||||
Net Sales and Operating Income over 5 years | (bn yen) | ||||||||||||||||||||||||||
Units: Billions of yen | Net Sales | Operating Income | 98.6 | ||||||||||||||||||||||||
Increase/ | Percent | 100 | 24 | ||||||||||||||||||||||||
94.3 | |||||||||||||||||||||||||||
FY2020 | FY2021 | FY2022 | Increase/ | 95 | |||||||||||||||||||||||
Decrease | 85.7 | 20 | |||||||||||||||||||||||||
Decrease | 90 | ||||||||||||||||||||||||||
16 | |||||||||||||||||||||||||||
Net Sales | 80.2 | 94.3 | 98.6 | +4.3 | +5% | 85 | |||||||||||||||||||||
80.8 | 80.2 | 12.4 | |||||||||||||||||||||||||
Business | Operating Income | 6.1 | 12.4 | 9.4 | -3.0 | -24% | 80 | 12 | |||||||||||||||||||
9.4 | |||||||||||||||||||||||||||
Operating Margin | 7.6% | 13.2% | 9.6% | -3.6pt | |||||||||||||||||||||||
Results | 75 | 8 | |||||||||||||||||||||||||
5.7 | 4.5 | 6.1 | |||||||||||||||||||||||||
Ordinary Income | 6.2 | 12.7 | 12.1 | -0.6 | -5% | 70 | |||||||||||||||||||||
4 | |||||||||||||||||||||||||||
Profit Attributable to Owners of Parent | 4.2 | 8.7 | 8.7 | -0.0 | -0% | 65 | |||||||||||||||||||||
60 | 0 | ||||||||||||||||||||||||||
Exchange | Average Rate: USD (Yen) | 107.67 | 109.53 | 129.63 | +20.10 | +18% | FY2018 FY2019 FY2020 | FY2021 | FY2022 | ||||||||||||||||||
Rates | Average Rate: Euro (Yen) | 118.50 | 132.00 | 138.17 | +6.17 | +5% | |||||||||||||||||||||
Exchange Rate Effect | |||||||||||||||||||||||||||
R&D Expenses | 3.4 | 3.6 | 4.2 | +0.6 | Depreciation | ||||||||||||||||||||||
CAPEX | 2.6 | 2.1 | 5.8 | +3.7 | and | Net sales: 7.4 bn yen Operating income: 1.9 bn yen | |||||||||||||||||||||
Amortization | Exchange rate effect on overseas | ||||||||||||||||||||||||||
4.2 bn yen | |||||||||||||||||||||||||||
inventory acted negatively. | 4 | ||||||||||||||||||||||||||
Copyright © Shimadzu Corporation. All Rights Reserved. | 1st Quarter FY 2022 (Ending March 2023) Results & Financial Position | ||||||||||||||||||||||||||
Analysis of Increase/Decrease in Operating Income
(Billions of yen)
+1.9
12.4 | -1.2 | ||||||||
Exchange | |||||||||
Effect of | -1.6 | ||||||||
Rate Effect | |||||||||
Decrease in | |||||||||
Effect of | |||||||||
Sales | Decrease in | -2.1 | |||||||
Profitability | |||||||||
Effect of | |||||||||
FY | Increase in | ||||||||
Expenses | |||||||||
2021 |
9.4
FY
2022
Exchange Rate
+1.9 bn yen
- The yen weakened against both USD and Euro.
- Exchange rate effect on overseas inventory (acted negatively).
Decrease in
Profitability
-1.6 bn yen
- Surging price of parts/materials.
- Deterioration in product mix.
Decrease in Sales
-1.2 bn yen
- Impact of the China lockdown.
- Production delays due to parts/materials shortage.
Increase in
Expenses
-2.1 bn yen
- Increase in human resource investment.
- Increase in logistics costs.
- Increase in R&D expenses.
5
Copyright © Shimadzu Corporation. All Rights Reserved. | 1st Quarter FY 2022 (Ending March 2023) Results & Financial Position |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Shimadzu Corporation published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 06:20:05 UTC.
