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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Taikisha Ltd.    1979   JP3441200007

TAIKISHA LTD.

(1979)
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Taikisha : Updated "Financial Results Briefings"

11/17/2020 | 03:53am EST

This photo shows Kumbhalgarh Fort, one of the Hill Forts of

Rajasthan, the world heritage in India, where Taikisha has affiliates.

The First Half of FY2020

Financial Results Briefing

Nov 17,2020

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Today's explanation contents

1. Greeting

Explanation about the settlement of accounts

2.Initiatives of each strategy in mid- term business plan (FY2019-FY2021)

3. Questions and answers

Representative Director, President Corporate Officer

Koji Kato

Director, Managing Corporate Officer / Chief

Executive, Administrative Management

Headquarters

Masanori Nakagawa

2

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  1. Business environment and Achievements for the First Half of FY2020
  2. Earnings Forecast for FY2020

3

Copyright 2020 Taikisha Ltd., All Rights Reserved.

1. Business environment and Achievements

for the First Half of FY2020

4

Copyright 2020 Taikisha Ltd., All Rights Reserved.

1Business environment and Achievements for the First Half of FY2020

Business environment of H1

In Japan

In the field of Building HVAC, there was a movement to postpone investment due to the impact of the state of emergency during the first quarter of FY2020.

Also, regarding the field of Industrial HVAC, due to the effects of the economic downturn caused by the spread of COVID-19 infection and the growing uncertainty about the future, capital investment by manufacturers continued to be cautious.

Overseas

Capital investment by each manufacturer continued to adjust in both the fields of Industrial HVAC and the automobile paint finishing system.

5

Copyright 2020 Taikisha Ltd., All Rights Reserved.

1Business environment and Achievements for the First Half of FY2020

Consolidated performance of H1

Hundred millions of yen

Original

Results of

Change

expectation

H1 FY2020

Orders-received

900

945

45

Net sales of completed

805

815

10

construction contracts

Ordinary income

39

37

-1

(Ratio)

4.8%

4.6%

-0.3%

Profit attributable to

29

30

1

owners of parent

(Ratio)

3.6%

3.8%

0.2%

Due to the impact of the spread of COVID-19 infection, the earnings forecast was disclosed at the timing of the announcement of the first quarter financial results on August 11.

As a result, the achievements were almost as expected compared to the original expectation for the first half.

6

Copyright 2020 Taikisha Ltd., All Rights Reserved.

2. Earnings Forecast for FY2020

7

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Earnings Forecast for FY2020

Consolidated Earnings Forecast for FY2020

Hundred millions of yen

Results

Expectations

Original

expectation

of H1

of H2

of FY2020

Orders-received

945

1,074

2,020

Net sales of completed

815

1,214

2,030

construction contracts

Ordinary income

37

82

120

(Ratio)

4.6%

6.8%

5.9%

Net income

30

49

80

(Ratio)

3.8%

4.1%

3.9%

Outlook for the business environmentGreen Technology System Business

Construction demand for the field of building HVAC has become more declining due to the spread of remote work, and there are movements to postpone or shrink investment plans in the short term. But demands for such as large-scale redevelopment, renewal, and data centers are expected to remain firm in the medium to long term.

In the field of Industrial HVAC , capital investment is expected to continue in the correction phase in the short term due to the economic downturn caused by the spread of COVID-19 infection both in Japan and overseas.

On the other hand, although there are concerns about the speed, we believe that demand will recover in the medium to long term due to the spread of 5G and the full-scale implementation of CASE, both in Japan and overseas.

Paint Finishing System Business

The outlook remains uncertain due to the re-expansion of COVID-19 infection, and capital investment is expected to continue in a correction phase.

8

Copyright 2020 Taikisha Ltd., All Rights Reserved.

1. Explanation about the First Half of FY2020

  • Highlight of the First Half of FY2020
  • Results of Green Technology System Business
  • Results of Paint Finishing System Business
  • Main projects in Order/ Sales / Carried forward
  • Earnings Forecast for FY2020
  • Shareholders Returns
  1. 2. Initiatives of each strategy in mid-term business plan (FY2019-2021)

  2. The mention numerical value is in principle consolidated basis. In the case ofnon-consolidated basis, it is noted on the title of the page.
  3. Achievements numerical value is in principle a business amount of money for the external customers. Only about operating income and ordinary income according to the segment, it becomes the numerical value including the intersegment turnover.
  4. The forecasted figures are based on available information as of the date of this announcement. It includes economic trends, intense competition in the industry, market demand, exchange rate, reforms of the tax system and various systems, and various other risks and uncertainties. Therefore, please note that actual results may differ from our expectations.

9

Copyright 2020 Taikisha Ltd., All Rights Reserved.

1. Explanation about the First Half of FY2020

10

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

- .Orders-received by Business Previous year comparisonComponent

Hundred millions of yen

2019.9

2020.9

Change

2020.9

Building

Orders-received

1,184

945

-239

results

(Japan)

(666)

(449)

(216)

Paint

161

(Overseas) (17.1%)

(Overseas)

(518)

(495)

(22)

300

Green Technology

786

594

-191

(31.8%)

Building HVAC

235

161

-74

Industrial

Industrial HVAC

550

433

-117

Paint

(Japan)

(Japan)

238

(Japan)

(360)

(238)

(122)

Industrial

49

(25.2%)

(Overseas)

(189)

(194)

(5)

(5.2%)

(Overseas)

Paint Finishing

398

350

-48

194

(Japan)

(69)

(49)

(20)

(20.6%)

(Overseas)

(328)

(300)

(27)

Green Technology System Business

In the field of Building HVAC, there was reactionary decline due to orders for large-scale projects in the same period of FY2019 and postponement of investment in the short term due to the spread of COVID-19 infection.

In the field of industrial HVAC in Japan, there was reactionary decline due to orders for large-scale projects in the same period of FY2019, and capital investment continued to be adjusted due to the downturn caused by the spread of COVID-19 infection.

On the other hand, the field of industrial HVAC in overseas was also affected by the economic downturn, but due to orders for large-scale redevelopment projects in Thailand, etc., the orders-received increased.

Paint Finishing System Business

2019.9 results

Paint (Overseas) Building

328 235

(27.8%) (19.9%)Paint

(Japan)

69Industrial

(5.9%) (Japan)

As for Paint Finishing System Business, although we received orders for large-scale projects from non- Japanese customers in Europe FY2020, orders-received decreased, because capital investment continued to adjust due to the effects of the economic downturn, and we received abundant orders in North America in the same period of the previous year.

Industrial 360 (Overseas) (30.5%)

189

(16.0%)

11

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

-.Orders-received by Business Expected comparison

Component

Hundred millions of yen

Original

Result of

Change

2020.9

Building

expectation

H1 FY2020

results

Paint

161

Orders-received

900

945

45

(Overseas)

(17.1%)

(Japan)

(407)

(449)

(42)

300

(Overseas)

(493)

(495)

(2)

(31.8%)

Industrial

Green Technology

550

594

44

Paint

(Japan)

Building HVAC

104

161

57

(Japan)

238

49

Industrial

(25.2%)

Industrial HVAC

446

433

-12

(5.2%)(Overseas)

(Japan)

(249)

(238)

(10)

194

(Overseas)

(197)

(194)

(2)

(20.6%)

Paint Finishing

350

350

0

(Japan)

(54)

(49)

(4)

Original

(Overseas)

(296)

(300)

(4)

expectation

Green Technology System Business

In the field of Building HVAC, the orders-received exceeded original expectation, because the projects that were expected to be issued in the second half or later in view of the movement of customers to postpone the investment period due to the spread of the COVID-19 infection were received ahead of schedule in the first half.

The orders-received of industrial HVAC in Japan fell below original expectations because of the postponement of investment plans due to the economic downturn caused by the spread of the

COVID-19 infection.

Paint Finishing System Business

The orders-received of Paint Finishing System Business was almost as expected.

Building

Paint 104(Overseas) (11.6%)

296

(32.9%)Industrial (Japan)

Paint

249

(27.7%)

(Japan)

54Industrial

(6.0%)(Overseas)

197

(21.9%)

12

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

- .Sales by BusinessPrevious year comparison

Component

Hundred millions of yen

Net sales of completed

2019.9

2020.9

Change

1,049

815

-233

construction contracts

(Japan)

(642)

(474)

(168)

(Overseas)

(407)

(341)

(65)

Green Technology

761

573

-188

Building HVAC

251

175

-75

Industrial HVAC

510

397

-112

(Japan)

(334)

(258)

(75)

(Overseas)

(176)

(139)

(36)

Paint Finishing

288

242

-45

(Japan)

(57)

(40)

(16)

(Overseas)

(230)

(201)

(29)

2020.9

results PaintBuilding

(Overseas) 175

201 (21.5%)Paint(24.7%)

(Japan)

40

Industrial

(5.0%)

Industrial

(Japan)

258

(Overseas)

139

(31.7%)

(17.1%)

Green Technology System Business

In the field of Building HVAC, the volume of large-scale redevelopment projects increased in the same period of FY2019, so the net sales decreased in reaction.

In the field of industrial HVAC in Japan, significant progress of several large-scale projects in the same period of FY2019, so the net sales decreased.

In the field of industrial HVAC in overseas, although the amount of carried forward was higher than at the beginning of the first half of FY2019, there were few projects that contributed to the completion of the first half accounting period of the current term, so the net sales decreased.

Paint Finishing System Business

As the amount of carried forward was less than at the beginning of FY2019, the total amount of net sales decreased.

In both businesses, construction activities were restricted overseas during the lockdown, but the impact was minor.

2019.9 results

Paint (Overseas) Building

230 251 Paint (22.0%)(23.9%)(Japan)

57

(5.5%)

Industrial Industrial (Overseas) (Japan)

176 334

(16.8%) (31.8%)

13

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

-. Sales by Business Expected comparison

Hundred millions of yen

Original

Result of

Change

expectation

H1 FY2020

Net sales of completed

805

815

10

construction contracts

(Japan)

(480)

(474)

(5)

(Overseas)

(325)

(341)

(16)

Green Technology

565

573

8

Building HVAC

166

175

9

Industrial HVAC

399

397

-1

(Japan)

(264)

(258)

(5)

(Overseas)

(135)

(139)

(4)

Paint Finishing

240

242

2

(Japan)

(50)

(40)

(9)

(Overseas)

(190)

(201)

(11)

The net sales in both the Green Technology System Business and the Paint Finish System Business were almost as expected.

Component

2020.9

results PaintBuilding

(Overseas) 175

201(21.5%) Paint(24.7%)

(Japan)

40

Industrial

(5.0%)

Industrial

(Japan)

258

(Overseas)

139

(31.7%)

(17.1%)

Original expectation

Paint Building

(Overseas) 166

190 (20.6%)

Paint(23.6%)

(Japan)

50

(6.2%)Industrial Industrial (Japan) (Overseas) 264

135 (32.8%)

(16.8%)

14

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

- .Profit by BusinessPrevious year comparison

Hundred millions of yen

2019.9

2020.9

Change

Operating income

75

31

-43

Ratio

7.2%

3.9%

-3.3%

Green Technology

72

42

-29

Ratio

9.5%

7.4%

-2.1%

Paint Finishing

5

-10

-16

Ratio

1.9%

-4.5%

-6.3%

Ordinary income

76

37

-39

Ratio

7.3%

4.6%

-2.8%

Green Technology

74

44

-30

Ratio

9.8%

7.8%

-2.0%

Paint Finishing

5

-10

-15

Ratio

1.8%

-4.4%

-6.2%

Green Technology System Division

The ordinary income decreased because of a significant decrease in the amount of the net sales of completed construction contracts.

Paint Finishing System Division

The amount of net sales in relatively profitable areas decreased due to the impact of the economic downturn, resulting in a current account deficit.

15

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

-. Profit by Business Expected comparison

Hundred millions of yen

Original

Results of

Change

expectation

H1 FY2020

Operating income

31

31

0

Ratio

3.9%

3.9%

0.1%

Green Technology

42

42

0

Ratio

7.4%

7.4%

0.0

Paint Finishing

-10

-10

0

Ratio

-4.2%

-4.5%

-0.3%

Ordinary income

39

37

-1

Ratio

4.8%

4.6%

-0.3%

Green Technology

44

44

0

Ratio

7.8%

7.8%

0.0

Paint Finishing

-8

-10

-2

Ratio

-3.3%

-4.4%

-1.0%

16

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

. Consolidated Income Statements

Hundred millions of yen

Hundred millions of yen

2018.9

2019.9

2020.9

Net sales of completed

988

1,049

815

construction contracts

Gross profit on completed

135

177

129

construction contracts

(Ratio)

13.7%

16.9%

15.9%

Selling, general and

101

102

97

administrative expenses

(Ratio)

10.3%

9.7%

12.0%

Operating income

33

75

31

Ratio

3.4%

7.2%

3.9%

Ordinary income

38

76

37

Ratio

3.9%

7.3%

4.5%

Profit attributable to

9

53

30

owners of parent

(Ratio)

0.9%

5.1%

3.8%

1,500

1,000

500

0

20%

16.9%

15.9%

988

1,049

15%

13.7%

815

10%

7.3%

3.9%

7.2%

4.5%

5%

3.4%

3.9%

0%

2018.9 2019.9 2020.9

Sales

Gross profit on completed construction contracts ratio %

Operating income ratio %Ordinary income ratio %

17

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

.Net sales of completed construction contracts / Ordinary income by Division

Green Technology System Business

9.4%

9.8%

7.8%

Hundred millions of yen

Paint Finishing System Business

1.8%

900

74

80

600

65

761

691

60

600

573

300

44

40

-9.5%

297 288

-4.4%80

60

242 40

20

300

0

20

0

0

(300)

2018.9 2019.9 2020.9

5

-10

-28

2018.9 2019.9 2020.9

ratio

0

‐20

‐40

18

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

6. Orders-received / Net sales of completed construction contracts / Construction carried forward

Hundred millions of yen

2,000

Orders-received

2,000

Sales

2,000

Carried forward

1,7901,872 1,859

1,500

1,000

1,185

1,500

1,184

25221.3%

23519.9% 945

1,000

16117.1%

9881,049

19019.3% 25123.9%815

1,500

1,000

58432.6%

40622.7%

512 27.4%442 23.8%

38420.5% 33518.0%

500

44337.4%

360

30.5%

23825.2%

189

16.0%

20.6%

500

31331.7% 33431.8

17521.5%

258 31.7

500

23313.0%

81

4.3%

74

4.0%

188

15.9%

69

5.9%

194

5.2%

5.1%

49

60

328 27.8%300

31.8%

24020.3%

18718.9%

17616.8%

139

17.1%

46

4.7%

57

5.5%

40

5.0%

25025.3%

230 22.0%201

24.7%

50228.1%64234.3% 61132.9%

0

2018.9 2019.9 2020.9

0

2018.9 2019.9 2020.9

0

2018.9 2019.9 2020.9

Building HVAC

Paint Finishing (Japan)

Industrial HVAC (Japan)

Paint Finishing (Overseas)

Industrial HVAC (Overseas)

19

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

. Overseas net sales of completed construction contracts by Region

44.3%

41.8%

38.8%

600

Hundred millions of yen

1,200

1,000

800

988

1,049

815

437

7

400

38

56

407 4

48

341

6

46

14

600

400

550 642

474

48

200 124

80

56

47

51

8666

6275

200

437 407 341

0

81

10278

0

2018.9 2019.9 2020.9

Japan

Overseas

Overseas Ratio

2018.9

2019.9

2020.9

Other Southeast Asia

North America

Thailand

China

Others

India

Other East Asia

●Main countries and regions The numerical value does not include the internal trading. Other SoutheastAsia-- Singapore , Malaysia, Indonesia, Philippines, Vietnam , others

Other EastAsia--Taiwan, Korea North America--USA, Canada, Mexico Others-- Russia, South America, others

20

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Highlight of the First Half of FY2020

8. Sales of overseas main five companies

Hundred millions of yen

Taikisha ThailandCo.,Ltd. Group

Wu-Zhou Taikisha Engineering Co., Ltd.

TKS Industrial Company Group

Thailand

GroupChina

USA

200

150

122

100

25

86

66

12

12

200

150

100

39

45

200

150

100

75

54

58

50

97

73

54

0

50

0

36

27

29

37

11

7

8

50

0

54 58 75

2018.9 2019.9 2020.9

Geico S.p.A. Group

(Italy

200

150

100 77

50

73

42

46

42

46

0

4

2018.9

2019.9

2020.9

200

150

100

50

0

2018.9

2019.9

2020.9

Taikisha Engineering India

Private Ltd.India

35

41

32

41

13

3

0

0

13

2018.9

2019.9

2020.9

2018.9 2019.9 2020.9

Paint Finishing System

Industrial HVAC

The numerical value does not include the internal trading.

21

Copyright 2020 Taikisha Ltd., All Rights Reserved.

1

Highlight of the First Half of FY2020

9. Consolidated Balance Sheet

Hundred millions of yen

2020.3

2020.9

Change

Current assets

1,689

1,534

-155

Cash and deposits

576

508

-67

Notes receivable, Accounts

967

831

-135

receivable from completed

construction contracts and other

Securities

35

10

-25

Costs on uncompleted

construction contractsRaw

34

41

6

materials and supplies

Other intangible assets

79

145

65

Allowance for doubtful accounts

-3

-2

0

Non-current assets

464

543

79

Property, plant and equipment

104

105

0

Goodwil

7

48

40

Other intangible assets

28

32

3

Investment securities

243

274

30

Deferred tax assets

6

5

-0

Other

73

78

4

Allowance for doubtful accounts

-0

-0

0

Total assets

2,153

2,077

-75

On July 30, 2020, Taikisha Ltd. conducted a capital participation in Nicomac Clean Rooms Far East LLP a manufacturer and marketer of clean room panels in India and it became a consolidated subsidiary. As a result, goodwill increased by 4 billion yen from the end of the previous fiscal year.

2020.3

2020.9

Change

Current liabilities

939

818

-120

Notes payable, accounts payable

for construction contracts and

576

395

-180

other

Advances received on

uncompleted construction

143

177

33

contracts

Provision for loss on construction

2

1

-1

contracts

Other

216

244

27

Non-current liabilities

86

108

21

Total liabilities

1,025

926

-98

Total net assets

1,128

1,151

22

Capital stock

64

64

0

Capital surplus

50

50

0

Retained earnings

908

915

6

Treasury shares, at cost

-25

-25

-0

Valuation difference on

83

105

21

available-for-sale securities

Deferred gains or losses on

-0

-0

-0

hedges

Foreign currency translation

3

-4

-8

adjustment

Accumulated remeasurements of

-3

0

3

defined benefit plans

Non-controlling interests

46

45

-0

Total liabilities and net assets

2,153

2,077

-75

22

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Results of Green Technology System Business

. Orders-received / Net sales of completed construction contracts

Orders-received

24.1%

32.7%

21.3%

1,000

884

800

252

786

28.5%

600

235

30.0%

594

161

27.2%

400

443

50.1%

360

45.9%

238

40.1%

200

188

21.3%

189

24.1%

194

32.7%

0

2018.9 2019.9 2020.9

Building HVAC

Industrial HVAC (Japan)

Sales

Hundred millions of yen

27.1%

24.3%

23.1%

1,000

800

691

761

600

190

27.6%

251

33.0%

573

175

30.6%

400

313

45.3%

334

43.9%

25845.1%

200

187

27.1%

176

23.1%

139

24.3%

0

2019.9

2020.9

2018.9

Industrial HVAC (Overseas) Overseas Ratio

23

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Results of Green Technology System Business

2. Order of the market classificationNon-consolidated

Hundred millions of yen

450

400

350

300

250

200

150

100

50

0

2019.9 2020.9

255

147

154

80

55 43

83

20

18

13

13 12

41

7

2

4

4

10

Electronic and

Office

Pharmacy Accommodation

Precision

Commercial

School,

Station, airport Others

electrical industry

building

machinery

educational

institution

24

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Results of Green Technology System Business

3. Order of the market classificationConsolidated

Hundred millions of yen

450

400

350

300

250

355

2019.9

2020.9

200

150

100

50

0

191

159 146

144

61 48

94

24

22

16

15 12

34 38

3

7

5

Electronic and

Office

Pharmacy

Precision

Accommodation

Commercial

School,

Others

Uncategorized

electrical industry

building

machinery

educational

orders-received

institution

by small-scale

affiliates

25

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Results of Green Technology System Business

700

600

500

400

300

200

100

0

4. Renewal constructionConsolidated

Orders-received

Sales

Hundred millions of yen

(%: Renewal Ratio

632

700

550

600

500

510

307

500

49%

247

433

239

397

45%

400

292

235

300

58%

47%

214

252

54%

251

235

54%

190

81

110

81

161

200

175

32%

44%

325

34%

303

118

83

271

81

198

100

44%

208

47%

183

142

154

170

73%

107

94

43

0

2018.9

2019.9

2020.9

2018.9

2019.9

2020.9

Building HVACRenewal

Industrial HVACRenewal

Building HVACNew

Industrial HVACNew

26

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Results of Paint Finishing System Business

. Orders-received / Net sales of completed construction contracts

600

500

400

300

200

100

0

Orders-received

Sales

Hundred millions of yen

85.9%

83.2%

82.5%

84.2%

80.1%

79.9%

600

500

398

350

400

69

300

17.5%

297

288

49

14.1%

300

242

60

20.1%

46

15.8%

57

19.9%

40

16.8%

200

328

240

82.5%

300

85.9%

250

84.2%

230

79.9%

100

80.1%

201

83.2%

0

2018.9

2019.9

2020.9

2018.9

2019.9

2020.9

Paint Finishing (Japan)

Paint Finishing (Overseas)

Overseas Ratio

27

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Results of Paint Finishing System Business

. Order ratio from non Japanese customers

600

500

400

64.4%

26.6%

16.0%

398

350

Hundred millions of yen

Japanese customer

300

200

300

292

252

125

Non Japanese customer

  • Non Japanese ratio

The order of the overseas Japanese-joint

100

0

48

225

106

venture (including all of Japanese customer investment companies) is included in the total value of the Japanese customer.

2018.92019.92020.9

28

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Main projects in Order/ Sales / Carried forward

. Orderfrom project more than 5 hundred millions of yen

Number of cases over 5 hundred millions of yen / construction, market classification

Orders- received

23 cases

445 hundred millions of yen

Office building

1

School, educational institution

1

Japan

Commercial

1

Accommodation

1

132

13

Station, airport

1

cases

Electronic and electrical industry

4

hundred millions of

Precision machinery

1

yen

Iron manufacture machinery

1

Pharmacy

1

Automobile

1

Office building

1

Overseas

Electronic and electrical industry

1

Other factory

1

10

312

Automobile

4

Cases

Truck

1

hundred millions of

yen

Railway

1

Motorcycle

1

29

Copyright 2020 Taikisha Ltd., All Rights Reserved.

4Main projects in Order/ Sales / Carried forward

2. Salesfrom project more than 5 hundred millions of yen

Number of cases over 5 hundred millions of yen / construction, market classification

Office building

4

Sales

Japan

School, educational institution

1

16

Accommodation

1

144

27 cases

Cases

Electronic and electrical industry

6

hundred millions of yen

Pharmacy

3

285

Transportation equipment

1

hundred millions of

Overseas

Office building

1

yen

11

141

Commercial

1

Cases

hundred millions of yen

Automobile

9

30

Copyright 2020 Taikisha Ltd., All Rights Reserved.

4Main projects in Order/ Sales / Carried forward

3. Carried forwardfrom project more than 1billion yen

Planned

Number of projects over 1 billion yen / construction, market classification

project to be

completed

in FY2020

Office building

7

Administrative facility

1

Japan

16

Accommodation

1

367

Medical and social welfare

1

Carried

hundred

cases

Electronic and electrical industry

2

1

millions of yen

Pharmacy

2

forward

Research and development

1

39 cases

Construction machine

1

Office building

2

1,066

Station, airport

2

Overseas

Electronic and electrical industry

2

hundred millions

Pharmacy

1

of yen

698

23

Other factory

1

hundred

cases

Automobile

12

3

millions of yen

Truck

1

Railway

1

Motorcycle

1

31

Copyright 2020

Taikisha Ltd.,

All Rights Reserved.

  • Earnings Forecast for FY2019

Expectations by Business

2020.3

Green Technology

Paint Finishing

Total

H1

H2

Total

H1

H2

Total

H1

H2

Total

Order-

786

819

1,605

398

265

663

1,184

1,084

2,269

received

Sales

761

812

1,573

288

391

680

1,049

1,204

2,253

Operating

72

63

135

5

22

27

75

78

154

income

Ordinary

74

64

138

5

22

28

76

83

159

income

Net

-

-

-

-

-

-

53

37

91

income

Hundred millions of yen

2021.3

Green Technology

Paint Finishing

Total

H1

H2(E)

Total(E)

H1

H2(E)

Total(E)

H1

H2(E)

Total(E)

594

705

1,300

350

369

720

945

1,074

2,020

573

726

1,300

242

487

730

815

1,214

2,030

42

63

106

-10

22

12

31

78

110

44

63

108

-10

23

13

37

82

120

-

-

-

-

-

-

30

49

80

  • Results of FY2019 H1:1US$=¥110.11, 1€=¥124.47, 1THB=¥3.48
    Results of FY2020 H1:1US$=¥108.44, 1€=¥119.85, 1THB=¥3.44
  • FY2020 Estimation1US$=¥106.00, 1€=¥117.00, 1THB=¥3.49

Effects of foreign exchange differences between and on

Sales : 9.3 hundred millions of yen, Ordinary income : +0.3hundred millions of yen.

Effects of foreign exchange differences between and on

Sales : +4.6 hundred millions of yen, Ordinary income: +0.1 hundred millions of yen.

  • Influence for the earnings forecasts for FY2020 when all exchange rates fluctuate by 1% is;

Orders/SalesApproximately 10 hundred millions of yen, Ordinary incomeApproximately 0.3 hundred millions of yen

32

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Earnings Forecast for FY2020

Earnings Forecasts by Business

Orders-received

Sales

(Hundred millions of yen)

2,500

2,000

1,500

1,000

500

0

2,418

2,269

467

19.3%

477

21.0%

2,020

355

17.6%

694

28.7%

632

27.9%

558

27.6%

423

17.5%

495

21.8%

387

19.2%

136

5.7%

136

6.0%

122

6.0%

696

28.8%

527

23.3%

598

29.6%

2019.3

2020.3

2021.3(E)

2,500

2,000

1,500

1,000

500

0

2,254

2,253

2,030

461

20.5%

549

24.4%

360

17.7%

613

27.2%

634

28.2%

558

27.5%

416

18.5%

389

17.3%

382

18.8%

117

5.2%

139

6.2%

134

6.6%

645

28.6%

540

24.0%

596

29.4%

2019.3

2020.3

2021.3(E)

Building HVAC

Paint Finishing(Japan)

Industrial HVAC(Japan)

Paint Finishing(Overseas)

Industrial HVAC(Overseas)

33

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Earnings Forecast for FY2020

TotalJapanOverseas

Orders-received

2,500

2,418

2,269

2,000

2,020

1,298

1,245

1,500

1,035

1,185

1,184

1,000

7561,120

666

945

449

1,023

500

985

46.3%

45.1%

48.8%

428

518

495

0

36.2%

43.8%

52.5%

H1Total

H1Total

H1Total

2019.3

2020.3

2021.3 (E)

2,500

2,000

1,500

1,000

500

0

Hundred millions of yen) %: Overseas ratio

Sales

2,254 2,253

2,030

1,192

1,323

1,052

988

1,049

815

5501,061

642

474 978

930

47.1%

41.3%

48.2%

437

407

341

44.3%

38.8%

41.8%

H1Total

H1Total

H1Total

2019.3

2020.3

2021.3(E)

34

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Earnings Forecast for FY2020

Green Technology System Division Japan/Overseas

2,000

Orders-received

2,000

1,585

1,605

1,500

1,500

1,300

1,000

1,162

1,109

1,000

Hundred millions of yen) (%: Overseas ratio

Sales

1,491 1,573

1,300

1,075 1,184

884

786

913

691 761

918

696

594

500

596

400

500

423

495

387

18826.7%

18930.9%

19429.8%

0

21.3%

24.1%

32.7%

0

H1Total

H1Total

H1Total

2019.3

2020.3

2021.3(E)

585

573

504

433

416

176

389

382

18727.9%

24.8%

13929.4%

27.1%

23.1%

24.3%

H1Total

H1Total

H1Total

2019.3

2020.3

2021.3(E)

35

Copyright 2020 Taikisha Ltd., All Rights Reserved.

  • Earnings Forecast for FY2020

Paint Finishing System Division Japan/Overseas

Orders-received

1,000

833

1,000

136

663

720

122

136

500

696

398

500

527

350

300

69

60

49 598

83.6%

328

79.5%

30083.1%

240

79.9%

82.5%

85.9%

0

0

H1Total

H1Total

H1Total

2019.3

2020.3

2021.3(E)

Hundred millions of yen) %: Overseas ratio

Sales

762

730

117

680

134

139

645

540

297

288

242 596

46

57

84.6%

79.5%

4081.6%

250

230

201

84.2%

80.1%

83.2%

H1Total

H1Total

H1Total

2019.3

2020.3

2021.3(E)

36

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Shareholders Returns

Purchase / Retirement Disposal of Treasury Shares

Purchase

Record

Date

Number

Unit

Amount

Price

(million

(thousand)

(yen)

yen)

2005/12

40

1,933

77

2006/2

597

1,780

1,062

2006/7,8

500

1,401

700

2011/8

300

1,576

472

2012/11

600

1,614

968

2013/12

800

2,170

1,736

2015/5

680

3,245

2,206

2016/11

356

2,805

999

2017/11,12

136

3,654

499

Retirement Record

Date

Number(thousand)

Unit

Amount

Price

(million

(yen)

yen)

2008/8

1,200

1,593

1,912

2018/2

1,700

2,443

4,154

Disposal Record

by ESOP

Date

Number(thousand)

Unit

Amount

Price

(million

(yen)

yen)

2013/2

180

1,860

334

37

Copyright 2020 Taikisha Ltd., All Rights Reserved.

6Shareholders Returns

Net income & Cash Dividends

(億円/円)

%

120.0

45

100.0

40

35

80.0

30

60.0

25

20

40.0

15

20.0

10

5

0.0

0

2012.3

2013.3

2014.3

2015.3

2016.3

2017.3

2018.3

2019.3

2020.3

2021.3

(E)

Net income(hundred millions of yen)

43.7

62.0

41.5

60.8

70.8

63.0

72.5

88.4

91.3

80

Cash dividends per share(yen)

35

50

45

52

67

70

75

91

100

90

Dividend payout ratio(%)

29.3

29.2

38.8

30.1

32.8

38.2

35.3

35.1

37.3

38.3

The basic policy is to implement steady dividends by targeting a consolidated dividend payout ratio of 35%.Regarding the estimated annual dividend ended March 31, 2021, it is 90 yen per share. (dividend payout ratio of 38.3%)

38

Copyright 2020 Taikisha Ltd., All Rights Reserved.

2. Initiatives of each strategy

in mid-term business plan (FY2019-2021)

39

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Long-term VisionQuantitative TargetsInvestment theme

40

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Basic Policy and DirectionStrategy

41

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Initiatives of each strategy Achievement①〜

Strategy︓Respond to social needs through business operations➀

Exterior appearance "Barrier Cube"

Evacuation Shelter

42

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Initiatives of each strategy Achievement③〜

StrategyRespond to social needs through business operations

43

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Initiatives of each strategy Achievement③〜

StrategyExpansion of overseas business domain through capital alliance

At the end of July 2020, Taikisha Ltd. (hereinafter "Company") conducted a capital participation in Nicomac Clean Rooms Far East LLP, a manufacturer and marketer of clean room panels in India (hereinafter "Nicomac").

Nicomac manufactures and sells high quality panels to Indian pharmaceutical manufacturers as its main customers.

Taking advantage of this capital participation, in the Indian market, which is expected to grow economically in the medium to long term, the Company aims to strengthen its ability to respond to the Indian clean room construction market, by combining Nicomac's panel manufacturing and installation technologies with air conditioning system technologies of the Company, mainly in the pharmaceutical manufacturing environment, which requires high performance air conditioning systems.

44

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Initiatives of each strategy Main initiatives in progress①〜

Strategy

Enhance added value

Energy-saving,cost-saving and environment-responsive technology and automation technology, etc.

Main initiative in progress

Develop and commercialize the paint system that remarkably improves coating efficiency

Taikisha is promoting to develop and to commercialize the paint system that remarkably improves coating efficiency related to reduce COemissions.

Upgrade and utilize

laboratories

Reinforce technological

development capabilities and

strengthen proposal

capabilities through the

visualization of technology

Utilize IoTAI

Promote the development of

new solutions

Reconstruct Research and Development Center as demonstration center

Taikisha is considering reconstruction of Research and Development Center as inspection facility to propose customers to technologies related to Green Technology System Division.

Develop and commercialize IoT and AI-based predictive maintenance system in factories

Taikisha is promoting business activity to expand introduction of i-Navistar. (an IoT and AI-based root cause analysis system for analyzing causes of suspended operation and quality defects on automotive paint)

45

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Initiatives of each strategy Main initiatives in progress②〜

Strategy

Enhance productivity

Main initiative in progress

Develop the automation system to draw the design and to estimate

Taikisha is developing the automation system to draw the design and to estimate.

Expand new

businesses

The plant factory business and the paint finishing system business for large vehicles other than automobiles

Construct Taikishaʼs own plant factory

Taikisha is considering establishment and demonstration of mass- production and automation technology, additionally construction of the facility to propose to customers.

Develop and commercialize automated polishing system for aircraft and railway cars

Taikisha is promoting business activities and technology demonstration for order-receiving the first project.

Expand business areas

Consider establishing affiliates in new countries

into new countries

Taikisha is considering establishing the new affiliates in the area that

is expected to invest.

46

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Initiatives of each strategy Main initiatives in progress③〜

Strategy

Main initiative in progress

Secure human

resources

Measures to make the Company more attractive including the enhancement of systems to enable flexible work styles, improvement of benefits and reduction of working hours

Reinforce human capital

and organizational

capabilities through the

utilization of diverse

human resources

Efforts for post-corona damage such as expansion of telework system

Taikisha is considering measures to improve the working styles of employees and improve work efficiency in anticipation of the post- corona damage, such as expanding the telework system suitable for Taikisha.

Introduce of telework

Taikisha is considering arrangement of making effective use of time and providing job opportunities for employees on administrative leave and retirees by introducing telework, as working from home, mobile work, working at satellite offices.

Utilize of diverse human resources

To promote womenʼs career advancement, female employees can take flexible leave according to life event. And Taikisha provides job training guidance for employees reinstated. Also, Taikisha is considering correspondence of employment until 70, which the Japanese Government promotes.

47

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Initiatives of each strategy Main initiatives in progress④〜

Strategy

Reinforce corporate

governance

Reinforcement of the management oversight functions of the Board of Directors and capital cost- conscious management

Reinforce the internal control system both in Japan and overseas

Improve the global risk

management system

Legal risks, information security, compliance, etc.

Main initiative in progress

Deepen consideration about capital cost, capital and shareholders returns policy

To aim for increase corporate value, Taikisha is promoting capital cost-conscious management, consideration about capital and shareholders returns policy.

Reinforce the internal control system related IT

Taikisha is considering reinforcing internal control system to maintain and supervise IT in the entire group.

Reinforce the global information security measure

Taikisha is considering reinforcing information security measure in overseas affiliates.

48

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Precaution about Forward Perspective

The data and future prospect in this material is based on the judgment on the announcement date and the available information. They are possible to change by various kinds of factors and can not guarantee the achievement of goals and future performance. This information is subject to change without notice.

We therefore recommend that you use this information with checking and confirming other information as well.

Taikisha assumes no responsibility whatsoever for any damages resulting from the use of this material.

Contact information for inquiry about this material

Investor Relations Section, Administrative Management Headquarters,

Taikisha Ltd.

TEL+81-3-5338-5052FAX+81-3-5338-5195

40

Copyright 2020 Taikisha Ltd., All Rights Reserved.

Disclaimer

Taikisha Ltd. published this content on 17 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2020 08:52:09 UTC


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Financials
Sales 2021 203 B 1 939 M 1 939 M
Net income 2021 7 834 M 75,0 M 75,0 M
Net cash 2021 58 995 M 565 M 565 M
P/E ratio 2021 12,3x
Yield 2021 3,18%
Capitalization 96 482 M 927 M 924 M
EV / Sales 2021 0,19x
EV / Sales 2022 0,15x
Nbr of Employees 4 783
Free-Float 66,5%
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Technical analysis trends TAIKISHA LTD.
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 6
Average target price 3 154,00 JPY
Last Close Price 2 832,00 JPY
Spread / Highest target 30,6%
Spread / Average Target 11,4%
Spread / Lowest Target -1,13%
EPS Revisions
Managers and Directors
NameTitle
Koji Kato Executive President & Representative Director
Junichi Murakawa Director & Senior Manager-Technology
Nobutaka Inagawa Director & Managing Executive Officer
Hiroshi Mukai Representative Director & Executive Vice President
Kazuhide Hayakawa Director & Senior Managing Executive Officer
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