Presentation Transcripts
Latest Update : June 2, 2021
Back to Financial Results (FY3/2021)
Investor Meeting Presentation for FY 3/2021 held on May 7, 2021
- Cove
- Today's Agenda
- Financial Results
- Summary of Consolidated Business Results
- Summary of Consolidated Business Results for 4Q
- Net Sales, Operating Income/margin Year
- Net Sales, Operating Income/margin Quarter
- 4Q Actual: Differences from the Forecast as of February
- Machined Components Year
- Machined Components Quarter
- Electronic Devices & Components Year
- Electronic Devices & Components Quarter
- Mitsumi Business Year
- Mitsumi Business Quarter
- U-Shin Business Year
- U-Shin Business Quarter
- Profit attributable to owners of the parent / EPS Year
- Profit attributable to owners of the parent / EPS Quarter
- Inventory
- Net interest-bearing debt / Free cash flow
- Forecast for Fiscal Year Ending March 31, 2022
- Forecast for Business Segment
- Changes of Business Segment
- Forecast for Business Segment (Adjusted)
- Management Policy & Business Strategy
- Summary of Fiscal Year ended 3/21
- Summary of Fiscal Year ending 3/22 Plan
- Mid-term Business Plan Targets
- Machined Components Targets
- Electronic Devices and Comp. (1) Targets
- Electronic Devices and Comp. (2) Motors
- Mitsumi Business (1) Targets
- Mitsumi Business (2) Optical Devices
- Mitsumi Business (3) Analog Semiconductors
- U-Shin Business Targets
- Construction of New Multi-purpose Factory
- Mission as CEO: Looking Back on My Tenure So Far
- Net Sales and Market Capitalization
- Path to 100 billion yen in operating income
- Mission as CEO: Looking Back on My Tenure So Far
- Laying the New Foundation for 100th Anniversary (1)
- Laying the New Foundation for 100th Anniversary (2)
- 70th Anniversary Dividend
- ESG Topics
- Forward-looking Statements
- Reference
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Finally, let's look at the U-Shin business segment.
Net sales decreased 16.0% compare to fiscal year ended March 31, 2020 to total 105.1 billion yen in the fiscal year ended March 31, 2021.
The factors for this decrease include a significant slowdown in production mainly in Europe in the first quarter because of restrictions imposed on operations due to the COVID-19 pandemic.
Operating loss came to 1.9 billion yen, and the operating margin was minus 1.8%. These figures represent a 3.9 percentage point year-on-year drop in operating margin.
One-time expenses incurred during the fourth quarter totaled approx. 4.3 billion yen for restructuring in Europe etc. If these expenses were excluded, operating income would have declined 6% and the operating margin would have risen 0.2 percentage points.
In the fiscal year ending March 31, 2022, we anticipate an increase in sales and an improvement in operating profit and loss due to the impact of the recovery in the automobile market.
Regarding the restructuring in Europe, while we have reached agreements with employees, local governments, etc. about the details of structural reforms to be implemented, our personnel reduction plan won't be completed until the end of March 2022 in order to avoid any impact on our business partners. Therefore, we won't see a reduction in fixed costs brought about until the next fiscal year, which is the fiscal year ending March 2023.
The impact of the business transfer in the U-Shin business segment will be an increase of approx. 28.5 billion yen in net sales for the fiscal year ending March 31, 2022.
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