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TADANO LTD.

(6395)
  Report
Delayed Japan Exchange  -  05/19 12:08:59 am EDT
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04/28TADANO : Notice Concerning Change of Accounting Period (Fiscal Year-End Date)
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04/28TADANO : Consolidated Financial Results (Quantitative) For FY 2021
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Tadano : Consolidated Financial Results(Quantitative) For First Quarter of FY 2020

07/31/2020 | 02:05am EDT

Consolidated Financial Results(Quantitative) For First Quarter of FY 2020

(April 1, 2020 through June 30, 2020)

Notes:

For the purpose of timely English-language financial

information disclosure, Tadano Ltd. provides quantitative

financial results reports in concurrence with the disclosure of

its original Japanese-language financial results. Detailed

qualitative information will be disclosed at a later date in a

July 31, 2020

comprehensive financial results report.

< Notes >

Forward-looking statements contained in this report are based on information available as of the date this report was prepared. A variety of factors may cause actual results to differ from projections.

1

Income Statement

(Unit: millions of yen)

FY2019

FY2020

Increase/

1Q

1Q

Decrease

Amount

Percentage

Amount

Percentage

Net sales

40,376

100%

43,213

100%

2,836

Cost of sales

30,003

74.3%

33,846

78.3%

3,842

Gross profit on installment sales

-11

-0.0%

-15

-0.0%

-3

Gross profit

10,360

25.7%

9,351

21.6%

-1,008

Selling, general, and

8,919

22.1%

9,921

23.0%

1,001

administrative expenses

Operating income

1,440

3.6%

-569

-1.3%

-2,010

Non-operating income and loss

-84

-0.2%

-227

-0.5%

-142

Ordinary income

1,356

3.4%

-796

-1.8%

-2,152

Extraordinary income and loss

-1

-0.0%

101

0.2%

103

Income before income taxes

1,354

3.4%

-694

-1.6%

-2,049

Corporate taxes

723

1.8%

314

0.7%

-408

Net income attributable to

-7

-0.0%

-4

-0.0%

3

noncontrolling interests

Net income attributable to

639

1.6%

-1,005

-2.3%

-1,645

owners of the parent

2

Balance Sheet

(Unit: millions of yen)

FY2019

FY2020

Increase/

FY2019

FY2020

Increase/

Year-end

1Q

Decrease

Year-end

1Q

Decrease

Cash deposits

57,075

60,262

3,186

Accounts payable

40,745

37,766

-2,978

Accounts receivable

63,725

45,103

-18,621

Interest-bearing debt

63,070

63,883

812

Inventories

97,457

107,258

9,800

Other liabilities

48,621

44,206

-4,415

11,723

7,310

-4,412

Other current assets

Total liabilities

152,437

145,855

-6,581

Total current assets

229,982

219,935

-10,046

Total equity

159,609

155,475

-4,134

Tangible fixed assets

66,417

65,827

-590

Total liabilities

312,047

301,331

-10,715

and equity

Intangible fixed assets

1,705

1,613

-91

Investment and

13,942

13,955

12

other assets

FY2019

FY2019

FY2020

Total fixed assets

82,064

81,396

-668

1Q

1Q

Total assets

312,047

301,331

-10,715

Receivable turnover

93.4 days

88.7 days

95.0 days

Inventory turnover

167.8 days

135.6 days

225.9 days

Equity ratio

59.3%

50.8%

51.2%

3

Net Sales by Product

(Unit: millions of yen)

FY2019

FY2020

Increase/Decrease

1Q

1Q

Amount Percentage

Mobile Cranes

23,396

26,567

3,171

13.6%

Truck Loader

5,584

4,273

-1,310

-23.5%

Cranes

Aerial Work

4,002

3,147

-855

-21.4%

Platforms

Other

7,393

9,224

1,831

24.8%

Total

40,376

43,213

2,836

7.0%

Breakdown of Mobile Crane Sales Inside and Outside Japan

Japan

7,728

5,913

-1,815

-23.5%

Outside Japan

15,667

20,653

4,986

31.8%

Total

23,396

26,567

3,171

13.6%

Exchange Rate

* Since the fiscal year for subsidiaries outside Japan ends in December,

the rates given here are January-March average.

USD

110.20

108.92

EUR

125.15

120.11

Net Sales by Product

Millions of yen

250,000

200,000

150,000

100,000

50,000

0

FY10 FY11

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19

FY19

FY20

1Q

1Q

Mobile Cranes

Truck Loader Cranes

Aerial Work Platforms

Other

4

Net Sales by Destination

(Unit: millions of yen)

FY2019

FY2020

Increase/Decrease

1Q

1Q

Amount

Percentage

Europe

4,483

8,457

3,974

88.6%

North America

5,666

9,865

4,199

74.1%

Caribbean, Central

726

1,799

1,072

147.8%

and South America

Asia

3,635

2,836

-798

-22.0%

Middle East

1,539

1,353

-186

-12.1%

Other

3,096

1,829

-1,266

-40.9%

Subtotal

19,147

26,141

6,994

36.5%

(total outside Japan sales)

Japan

21,229

17,071

-4,157

-19.6%

Total

40,376

43,213

2,836

7.0%

Outside Japan

47.4%

60.5%

Sales Ratio

Millions of yen

Net Sales by Destination

140,000

70%

120,000

60%

100,000

50%

80,000

40%

60,000

30%

40,000

20%

20,000

10%

0

0%

FY10

FY11

FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY19

FY20

Europe

North America

1Q

1Q

Caribbean,Central and South America

Asia

Middle East

Other

Outside Japan Sales ratio

The graph above excludes Japan.

"Other" is comprised of Oceania, Africa and the CIS.

5

FY 2020 First Half Business Performance Forecast

FY2020 First HalfReleased on July 31,2020

(Unit: millions of yen)

FY2019

FY2020

Increase/Decrease

First Half

First Half Forecast

Amount

Percentage

Amount

Percentage

Amount

Percentage

Net sales

100,304

100%

88,000

100%

-12,304

-12.3%

Operating income

7,573

7.6%

-2,100

-2.4%

-9,673

-

Ordinary income

7,262

7.2%

-2,500

-2.8%

-9,762

-

Net income attributable to

5,064

5.0%

-3,100

-3.5%

-8,164

-

owners of the parent

FY2019

FY2020

Mid-year ¥14.00

Mid-year

¥0.00

Dividends per share

Year-end

¥14.00

Year-end

Undetermined

Full-year

¥28.00

Full-year

Undetermined

*The consolidated business performance forecast for FY 2020 has not yet been formulated due to the difficulty in reasonably assessing the impact of the novel coronavirus disease (COVID-19).

The forecast will be disclosed after it becomes possible to assess these matters to a higher degree.

*The mid-year dividends will not be paid. The year-end dividends forecast has not yet been determined and will be disclosed when the consolidated business performance forecast for FY 2020 becomes available.

6

FY 2020 First Half Forecast (Net Sales by Product)

(Unit: millions of yen)

FY2019

FY2020

Increase/Decrease

First Half

First Half

Forecast

Amount Percentage

Mobile Cranes

64,199

53,800

-10,399

-16.2%

Truck Loader

11,265

9,300

-1,965

-17.4%

Cranes

Aerial Work

9,507

8,000

-1,507

-15.9%

Platforms

Other

15,332

16,900

1,568

10.2%

Total

100,304

88,000

-12,304

-12.3%

Breakdown of Mobile Crane Sales Inside and Outside Japan

Japan

24,984

17,500

-7,484

-30.0%

Outside Japan

39,214

36,300

-2,914

-7.4%

Total

64,199

53,800

-10,399

-16.2%

Exchange Rate

* Since the fiscal year for subsidiaries outside Japan ends in December,

the rates given here are January-June average.

USD

110.05

108.27

EUR

124.32

119.30

Millions of yen

Net Sales by Product

250,000

200,000

150,000

100,000

50,000

0

FY10

FY11

FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY19

FY20

First Half

First Half

Forecast

Mobile Cranes

Truck Loader Cranes

Aerial Work Platforms

Other

7

FY 2020 First Half Forecast (Net Sales by Destination)

(Unit: millions of yen)

FY2019

FY2020

Increase/Decrease

First Half

First Half

Amount Percentage

Forecast

Europe

8,627

13,600

4,973

57.6%

North America

21,043

18,100

-2,943

-14.0%

Caribbean, Central

1,317

2,300

983

74.6%

and South America

Asia

6,729

5,100

-1,629

-24.2%

Middle East

3,064

3,500

436

14.2%

Other

5,377

3,900

-1,477

-27.5%

Subtotal

46,159

46,500

341

0.7%

(total outside Japan sales)

Japan

54,144

41,500

-12,644

-23.4%

Total

100,304

88,000

-12,304

-12.3%

Outside Japan

46.0%

52.8%

Sales ratio

Millions of yen

Net Sales by Destination

140,000

60%

120,000

50%

100,000

40%

80,000

30%

60,000

20%

40,000

20,000

10%

0

0%

FY10

FY11

FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY19

FY20

First Half

First Half

Forecast

Europe

North America

Caribbean,Central and South America

Asia

Middle East

Other

Outside Japan Sales ratio

The graph above excludes Japan.

"Other" is comprised of Oceania, Africa and the CIS.

8

Disclaimer

Tadano Ltd. published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 06:05:29 UTC


ę Publicnow 2020
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Financials
Sales 2022 207 B 1 612 M 1 612 M
Net income 2022 10 763 M 84,0 M 84,0 M
Net cash 2022 13 042 M 102 M 102 M
P/E ratio 2022 10,9x
Yield 2022 0,83%
Capitalization 117 B 916 M 916 M
EV / Sales 2022 0,50x
EV / Sales 2023 0,51x
Nbr of Employees 5 074
Free-Float 97,2%
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 926,00 JPY
Average target price 1 130,00 JPY
Spread / Average Target 22,0%
EPS Revisions
Managers and Directors
Toshiaki Ujiie President, CEO & Representative Director
Koichi Tadano Chairman
Yuji Tadano Executive Officer, Head-Technology & Research
Kozo Yoshida Executive Officer & Head-Compliance
Yasuyuki Yoshida Independent Outside Director
Sector and Competitors