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Results Announcement for the First Half of FY2015 (April 1, 2014 – September 30, 2014)
仮 色調整
Honda City seat
http://www.tstech.co.jp
Securities code: 7313 First Section, Tokyo Stock Exchange
Results Announcement for the First Half of FY2015
Details Kazuhiko Hikida
・ Consolidated Results for the First Half of FY2015
・ Consolidated Forecasts for FY2015
・ Consolidated Results Outline for the First Half of FY2015
・ Business Overview for the First Half of FY2015
・ Outline of Consolidated Forecasts for FY2015
Outline Michio Inoue President
Senior Managing Director & Corporate Business Administration Division Executive General Manager
Details Kazuhiko Hikida
Outline Michio Inoue President
・ Consolidated Results Outline for the First Half of FY2015
・ Business Overview for the First Half of FY2015
・ Outline of Consolidated Forecasts for FY2015
Senior Managing Director & Corporate Business Administration Division Executive General Manager
・ Consolidated Results for the First Half of FY2015
・ Consolidated Forecasts for FY2015
Consolidated Results Outline for the First Half of FY2015 (April 1, 2014 - September 30,2014)
First half of
FY2014
First half of
FY2015
First half of
FY2014
First half of
FY2015
First half of
FY2014
First half of
FY2015
First half of
FY2014
First half of
FY2015
Japan China The Americas Asia and Europe
Total seats produced
(Unit: 10,000 seats)
First half of
FY2014
First half of
FY2015
159
(Unit: 10,000 seats)
Production volume according to region
*Figures rounded down to the nearest 10,000 seats. (Source: TS TECH production data)
159
Actual Production Volume for Honda Automobile Seats (First half of FY2015)
Consolidated
6
18
24
72
66
33 39
34 29
+ 0.3%
+ 31.5%
- 8.2%
+ 17.0% - 15.0%
Consolidated Results Outline for the First Half of FY2015 (April 1, 2014 – September 30, 2014)
7
FY2014 FY2015 Comparison of first halves
Difference (Change) Results Results
216,037 216,133 +96 (+0.0%)
Net sales [million yen]
20,485 17,567 -2,918 (-14.3%)
Operating income [million yen]
9.5% 8.1% Operating margin
¥98.9 ¥103.0 Average exchange rate
[USD]
【仮】 売上・利益を明確にわけて書くか?
or ‘一文’化するか?
加藤さん 数字(営業利益率や為替等)を
再度見直してください ※小数点以下の桁揃え
・四捨五入?・切捨て?切り上げ?
【Net sales】 ・ Exchange rate impact ・ Changes to model makeup
【Operating income】
・ Exchange rate impact ・ Changes to model makeup ・ The effects of decreased
production in Thailand
Varia
ble
facto
rs
8
FY2015 FY2015 first half results compared
with initial forecasts
Difference (Change) First half results Initial forecasts (April 25)
213,000 216,133 +3,133 (+1.5%)
売上高 [百万円]
16,500 17,567 +1,067 (+6.5%)
営業利益 [百万円]
7.7% 8.1%
(¥100.0) ¥103.0
【仮】 売上・利益を明確にわけて書くか?
or ‘一文’化するか?
加藤さん 数字(営業利益率や為替等)を
再度見直してください ※小数点以下の桁揃え
・四捨五入?・切捨て?切り上げ?
Net sales [million yen]
Operating income [million yen]
Consolidated Results Outline for the First Half of FY2015 (April 1, 2014 – September 30, 2014)
Operating margin
Average exchange rate
[USD]
8
【Net sales】 ・ Exchange rate impact ・ Changes to model makeup
・ Decreased order volume from major customers
【Operating income】
・ Exchange rate impact ・ Changes to model makeup
・ Decreased order volume from major customers
・ Cost cutting
Varia
ble
facto
rs
Business Overview for the First Half of FY2015
April 1, 2014 – September, 30 2014
SUZUKI
Kawasaki
YAMAHA
The Americas
China
Asia and Europe
第1四半期
Honda
第2四半期
Automobiles Motorcycles, etc.
White: New model/Full model change Gray: Minor model change
ODYSSEY
RM-Z450 (SUZUKI)
CITY (Philippines)
RDX (U.S.)
CIVIC (Brazil)
ODYSSEY
(U.S.)
ACCORD (U.S.)
MOBILIO (Thailand)
CIVIC
10
MOBILIO (India)
米国 4月 • 2015 RDX 8月 • 2015 Accord • 2015 Acura TLX • 2015 Odyssey
カナダ
5月 • 2015 RDX 8月 • 2015 Acura TLX
ブラジル 4月末か5月の始まり • 2015 Fit (記事によると発売日が違っていました) 6月 • 2015 Civic 9月 • 2015 City
FIT (Brazil)
発売9月後半 用確認⇒JEN
確認済み↓ 9月10日 CITY (Brazil)
VFR800F
10月ごろ発売? 用確認⇒JEN
9月発売確認済み↓ 9月15日
CITY CNG (Thailand)
ACCORD (Thailand)
JAZZ (Indonesia)
JAZZ (Thailand)
Japan
NM4-01
Gold Wing F6C
CRF250R
May July June August September April
Key Models Entering Mass Production in FY2015 (Apr.-Sept. 2014)
ESCUDO Doors (SUZUKI)
JIMNY Doors (SUZUKI)
RM-Z250 (SUZUKI)
MULE PRO FXT (U.S./Kawasaki)
VIKING (U.S./YAMAHA)
Launch : 2014 April (Philippines)
〃 September (Brazil)
Production sites : Philippines, Brazil
(Production began earlier in India and Thailand)
Order : Seats, doors
Honda CITY Full model change
各部品のさらなる小型化と、ミリ単位の配置調整により、リアシートの位置をギリギリまで後ろに設定。
軽量化・低コスト化
11
FITと部品を共有化することでコスト削減を実現
仮
【参考】 非表示 コスト:約▲40%(売価ベース) FITと部品を共有化することで コスト削減を実現
Door
The fuel efficient car
now weighs even less
前モデル比 [シート1台分]
重量 : 約▲ 8 % (フィリピン仕様)
コスト : 約▲40 % (売価ベース)
[equivalent to the weight of one Philippine spec seat]
■8% lighter than the previous model
【確認事項】 原価ベースではどれぐらい減少したのか?
■Improved occupant comfort Made rear seats more comfortable without compromising performance by making seatbacks even thinner
■Significantly lower costs Significantly reduced costs by using the same parts as the FIT
コスト【手元情報として】 売価:約▲40% 原価:どのくらいさがったのか?確認
写真なし
Key Models Entering Mass Production in FY2015 (Apr.-Sept. 2014)
フロントシート
Establishment of a new company in India: Production hub for motorcycle seats
■ 主要客先のインド二輪事業拡大に対応
した生産体制を構築
目的
■代表者: 代表取締役社長 山口 修一
■資本金: 460,000千ルピー(約7.6億円)
■事業内容: 二輪車用シートの製造・販売
■設立: 2014年5月
■稼働開始: 2015年9月(予定)
概要
TS TECH MANDAL PRIVATE LIMITED
12
Artistic rendering of completed building
主要客先のインドにおける二輪事業の拡大に対応した生産体制を構築するため、インド グ
ジャラート州に新会社を設立いたします。新会社の二輪車用シートの年間生産能力は120万台規模であり、これにより、既存のTS TECH
SUN INDIA Private Limitedの280万台と合
わせて、当グループのインドにおける年間生産能力は400万台となります。
Construct a manufacturing system to accommodate expansion of major customers’ motorcycle business in India
TS TECH SUN RAJASTHAN
Rajasthan
▼Future site of the company
Gujarat
New company
■ Principal operations:Manufacture of seats for motorcycles
■ Location : Gujarat, India
■ Capital stock : 460 million rupees (roughly ¥760 million)
■ Establishment : May 2014
■ Start of operations :September 2015 (scheduled)
Building area: about 4,000㎡
Lot area: about 20,000㎡
Business Overview for the First Half of FY2015
13
Business Overview for the First Half of FY2015
Our first appearance at IZB2014, a German exhibition for automotive companies
Aggressive development of sales promotion to expand sales to companies other than Honda
■Dates : Oct. 14-16, 2014
■Location:Wolfsburg, Germany (near VW headquarters)
■Number of exhibitors:About 800 companies
Internationale Zulieferer Börse: A biannual exhibition for international automotive companies held by VW and the city of Wolfsburg
【Notable items on display】
Component technology ・Global market seat frame ・4-way headrest
・Reinforced lock line-up ・Illuminated door panels
Products ・”Cradle seat” for the Japanese Odyssey
・Doors and seats for the City and Fit
屋内の写真 (10/24頃設備導入⇒差し替え写真素材待ち)
The Hungary plant is steadily progressing toward the start of operations
14
Scheduled to begin production of 3rd-row seats for Volkswagen (next-gen SUV) in May 2015
仮 TS TECH Hungary Kft.
写真差し替え予定
Business Overview for the First Half of FY2015
■ Progress report
・Building for heavy machinery and office completed
・Installation of manufacturing equipment underway (as of the end of Oct. 2014)
□ Upcoming plans
・Hiring of manufacturing personnel, establishment of quality levels, etc.
・Start of operations: May 2015 (scheduled)
Installation of manufacturing equipment
Office
Relocation of a plant in Guangzhou, China
15
The move is in conjunction with Zengcheng District’s urban development plans
Artistic rendering of completed building
■ Principal operations:Manufacture of seats for automobiles
■ New location:
Zengcheng District, Guangzhou, Guangdong, China
Zengcheng Economic & Technological Development District
(the same district, but roughly 12 km northeast of the current location)
■ Start of operations :July 2016 (scheduled)
GUANGZHOU TS AUTOMOTIVE INTERIOR SYSTEMS CO., LTD.
■Lot area
About 68,000㎡
About 133,000㎡
■Building area
About 40,000㎡
About 66,000㎡
About 1.6x larger
2x larger
Current plant
New plant
Business Overview for the First Half of FY2015
Current plant
New plant
「汽車産業基地」
英訳不明
Business Overview for the First Half of FY2015
Measures to Strengthen the Americas Segment
The start of operations at a new plant in Mexico: A component supply hub for the Americas
Further strengthen component competitiveness through the consolidation of automobile seat and door component manufacturing
■
■
■
■
■
:
:
:
:
:
リ リ ー ス 日
所 在 地
工 場 稼 動 開 始
投 資 額
生 産 品
2013年3月27日
メキシコ グアナファト州
2014年10月
約47,000千ドル(約43億円 1ドル:92円)
FIT・CR-V等のシート部品
●
メキシコ
アメリカ
カナダ
設立 : 2013年4月 稼動開始 : 2014年10月(予定)
ブラジル
TS TECH CANADA
TS TECH USA
TS TECH ALABAMA
TS TRIM INDUSTRIES
TS TECH INDIANA
TS TECH DO BRASIL シート部品・ドア部品
New company
INDUSTRIAS TRI-CON DE MEXICO, S.A. DE C.V.
TST MANUFACTURING DE MEXICO, S. DE R.L. DE C.V.
■ Principal operations:Manufacture of seats and door components for automobiles (Fit, CR-V, etc.)
■ Location : Guanajuato, Mexico
■ Lot area : About 150,000㎡
■ Investment : About 47 million dollars(Roughly ¥4.3 billion $1:¥92)
■ Start of operations : October 2014 Guanajuato
Tamaulipas
Business Overview for the First Half of FY2015
Expansion of the Americas segment headquarters
Strengthen the segment’s sales and R&D system as the foundation for business expansion in the Americas
TS TECH AMERICAS, INC.
Section
to be
expanded
■ Expansion of the east side of the existing building (partially two-stories)
Roughly 2x bigger:【existing】5,386㎡ ⇒ 【new】10,568㎡
■ Building to be completed at the end of 2014 (scheduled) 従来:5,386㎡ ⇒ 拡張分:4,274㎡ 拡張後合計:9,660㎡
Business Overview for the First Half of FY2015
20
The aim is to further increase competitiveness and expand sales to customers other than Honda by the coordination and strengthening of all regions in the Americas
【North America】 Expansion of the
Americas segment
headquarters to
strengthen the sales and R&D system
【South America】 Strengthen cost competitiveness
through the construction
of a new sewing plant
and installation of
injection facilities
【Central America】 Strengthen component
competitiveness through consolidation
of production
Business Overview for the First Half of FY2015
21
Sitting will change your life.
Toshiyuki Sawaguchi
Masataka Matsutoya
Brain Scientist Music Producer, Motor Journalist
Kota Nezu
Kakuko Nakamura
Creative Communicator
Doctor of Medicine Visiting Professor at Yokohama City University
SPECIAL GUESTS
Spirit・Moving・Sitting・Future
We’re giving away 180 free tickets to the public ※Winners may be selected via lottery depending on the number of entries
For more info visit www.suwaru.jp
Event Notice
Contact: Za Forum Office [email protected]
Outline of Consolidated Forecasts for FY2015
April 1, 2014 – March 31, 2015
23
Outline of Consolidated Forecasts for FY2015
Results Initial
forecasts [April 25]
Midterm forecasts [Oct. 30]
Initial forecasts [April 25]
Midterm forecasts [Oct. 30]
Difference Change
Difference Change
First half Second half Full year
Average exchange
rate
USD …
CNY…
¥103.0
¥ 16.7
(¥100.0)
(¥15.8)
(¥107.0)
(¥17.2)
Operating margin
8.1% 9.3% 8.1% 8.6% 8.1%
Net sales [100 million yen]
2,161 2,250 2,169 -81 -3.6%
4,380 4,330 -50 -1.1%
Operating income 175 210 175 -35
-16.7%
375 350 -25 -6.7% [100 million yen]
【Net sales】 ・ Exchange rate impact ・ Decreased order volume from major customers
【Operating income】
・ Exchange rate impact ・ Reduced costs
・ Decreased order volume from major customers
・ Cost cutting
見通しの 変動要因
Outline Michio Inoue President
・ Consolidated Results Outline for the First Half of FY2015
・ Business Overview for the First Half of FY2015
・ Outline of Consolidated Forecasts for FY2015
Details Kazuhiko Hikida
Senior Managing Director & Corporate Business Administration Division Executive General Manager
・ Consolidated Results for the First Half of FY2015
・ Consolidated Forecasts for FY2015
Consolidated Results for the First Half of FY2015
April 1, 2014 – September 30, 2014
(Unit: million yen)
First half of FY2014
Results
First half of FY2015
Results Difference Change
Sales ratio Sales ratio
Net sales 216,037 100.0% 216,133 100.0% 96 0.0%
Operating income 20,485 9.5% 17,567 8.1% -2,918 -14.3%
Ordinary income 21,809 10.1% 19,718 9.1% -2,091 -9.6%
Net income 12,738 5.9% 11,351 5.2% -1,457 -11.4%
Capital investment 9,557 8,605 -952 -10.0%
Depreciation 4,259 4,471 212 5.0%
R&D expenses 5,444 6,231 787 14.5%
Exchange rates
(First half average)
USD ¥98.9 ¥103.0
CNY ¥15.5 ¥16.7
Cash dividends per share (End of the first half) ¥24 ¥30
【Net sales】
・ Increase in revenue reflecting the impact of exchange rates
・ Decrease in revenue due to changes to model makeup
Consolidated Results Outline for the First Half of FY2015 【Results compared to the first half of FY2014】
【Main capital investments】
・A decline in investments, etc. in Asian manufacturing hubs
26
【Operating income/ordinary income/net income】
・Income decreased due to changes to model makeup, offsetting the the impact of exchange rates
・Decrease in income as a result of labor costs and increased costs
(Unit: million yen)
First half of FY2014 First half of FY2015
Automobiles 97.5%
Motorcycles 1.5%
Other 1.0%
Automobiles 97.5%
Motorcycles 1.3%
Other 1.2%
216,133
210,614
2,563
2,955
-308 (Down 9.4%)
+36 (Up 0.0%)
+350 (Up 19.0%)
Revenue roughly the same as the first half of FY2014
Net Sales According to Business Segment 【Results compared to the first half of FY2014】
210,577
2,196
3,263
27
216,037
First half of FY2014 First half of FY2015
Revenue increased, particularly in seats
(Unit: million yen)
Other 3.0%
Seats 88.5%
Doors 8.3%
Roofs 0.2%
Other 2.8%
Seats 89.3%
Doors 7.8%
Roofs 0.1%
16,497
187,985
5,947 184
Net Sales According to Product: Automobile Segment 【Results compared to the first half of FY2014】
-939 (Down 5.4%)
-136 (Down 42.5%)
+1,565 (Up 0.8%)
-453 (Down 7.1%)
210,614
28
17,437
186,419
6,400 320
210,577
Japan
第2四半期累計
第2四半期累計
Reasons for year-on-year rise/fall ・Decrease in revenue with a
decline in sales of parts supplied from Japan
・ Increase in revenue with increased order volume from major customers
Year-on-year -1,435 (Down 3.2%)
(Millio
n y
en
)
China
Reasons for year-on-year rise/fall ・ Increase in revenue due to the
impact of exchange rates ・ Increase in revenue with
increased order volume from major customers
Exchange rate impact
+3,750 million yen
The Americas
Reasons for year-on-year rise/fall ・ Decrease in revenue with
decreased order volume from major customers
・ Increase in revenue due to the impact of exchange rates
Exchange rate impact +3,698 million yen
Asia and Europe
Reasons for year-on-year rise/fall ・ Decrease in revenue with
decreased order volume from major customers in Thailand
・ Increase in revenue due to the impact of exchange rates
Exchange rate impact +490 million yen
2014年3月期 2015年3月期
45,175
2014年3月期 2015年3月期
2014年3月期 2015年3月期
2014年3月期 2015年3月期
44,161
106,560
36,447
FY 2015
First half
FY 2014
First half
(Millio
n y
en
)
Results According to Segment (Net Sales)
FY 2015
First half
FY 2014
First half
FY 2015
First half
FY 2014
First half
FY 2015
First half
FY 2014
First half
Year-on-year -285 (Down 0.3%)
Year-on-year +7,296 (Up 16.5) Year-on-year -6,736 (Down 18.5%)
29
43,739
106,274
51,457
29,711
(Millio
n y
en
)
(Millio
n y
en
)
Japan
Reasons for year-on-year rise/fall ・ Decrease in income due to decline
in revenue ・Decrease in income as a result of
increased costs
(Millio
n y
en
)
Reasons for year-on-year rise/fall ・Increase in income due to increase in revenue ・ Increase in income due to the impact of exchange rates Exchange rate impact +470 million yen
(Millio
n y
en
)
The Americas
Reasons for year-on-year rise/fall ・ Decrease in income due to decline
in revenue ・Decrease in income as a result of
various increased costs ・ Increase in income due to the
impact of exchange rates Exchange rate impact +219 million yen
(Millio
n y
en
)
Reasons for year-on-year rise/fall ・ Decrease in income due to decline
in revenue ・Decrease in income as a result of
various increased costs Exchange rate impact +86 million yen
(Millio
n y
en
)
2014年3月期 2015年3月期
3,095
2014年3月期 2015年3月期
5,518
8,592
5,541
FY 2015
First half
FY 2014
First half
FY 2015
First half
FY 2014
First half
FY 2015
First half
FY 2014
First half
FY 2015
First half
FY 2014
First half
Year-on-year -555(Down 17.9%) Year-on-year -857 (Down 10.0%)
Year-on-year +2,847 (Up 51.6%) Year-on-year -3,042(Down 54.9%)
China Asia and Europe
30
2,540
8,365
2,499
7,735
6.9%
8.1%
12.5%
15.2%
5.8%
7.3%
16.3%
8.4%
Operating margin
Operating margin
Operating margin
Operating margin
Results According to Segment (Operating Income)
Income decreased due to changes to model makeup and increased expenses, offsetting the exchange rate impact
Reasons for Increase/Decrease in Operating Income 【Results compared to the first half of FY2014】
First half of
FY2014
First half of
FY2015
17,567
Reduced costs
1,252
Fluctuating sales &
changes to model makeup
-3,386
Increased SG&A
expenses
-1,408
Fluctuating material costs
-181 Exchange
rates
805
-2,918(Down 14.3%)
20,485
31
9.5%
8.1%
(Unit: million yen)
Net sales Operating income
106,861109,175
116,741
124,274
108,280 107,853
1Q 2Q 3Q 4Q 1Q 2Q
(Millio
n y
en
)
FY2014 FY2015
10,42210,062
8,7578,8099,060
9,564
1Q 2Q 3Q 4Q 1Q 2Q
FY2014 FY2015
(Millio
n y
en
)
-1,322 (Down 1.2%)
1,418 (Up 1.3%)
-1,612 (Down 15.5%)
-1,305 (Down 13.0%)
Quarterly Results
32
(Unit: million yen)
First half of FY2015
Forecasts (April 25)
First half of FY2015
Results Difference Change
Sales ratio Sales ratio
Net sales 213,000 100.0% 216,133 100.0% 3,133 1.5%
Operating income 16,500 7.7% 17,567 8.1% 1,067 6.5%
Ordinary income 17,800 8.4% 19,718 9.1% 1,918 10.8%
Net income 9,900 4.6% 11,351 5.2% 1,451 14.7%
Capital investment 11,550 8,605 -2,944 -25.5%
Depreciation 4,624 4,471 -152 -3.3%
R&D expenses 6,700 6,231 -468 -7.0%
Exchange rates (First half average)
USD ¥100.0 ¥103.0
CNY ¥16.4 ¥16.7
Cash dividends per share (End of first half) ¥30 ¥30
【Net sales】
・ Increase in revenue due to the impact of exchange rates
・ Increase in revenue due to changes to model makeup
・ Decrease in revenue with decreased order volume from
major customers
【Operating income/ordinary income/net income】
・Increase in income due to changes to model makeup
・ Increase in income due to the impact of exchange rates
・ Decrease in income due to a decrease in revenue
33
Consolidated Results Outline for the First Half of FY2015 【Results compared to the forecasts released on April 25】
Income increased, primarily due to the exchange rate impact and cost cutting measures
First half of
FY2015
First half of
FY2015
17,567 Reduced
costs
213
Fluctuating sales & changes to
model makeup
-111 16,500
Exchange rates
377
Fluctuating material costs
4
Decreased SG&A
expenses
584
+1,067(Up 6.5%)
(April 25 forecasts)
34
7.7%
8.1%
(Unit: Million yen)
Reasons for Increase/Decrease in Operating Income 【Results compared to the forecasts released on April 25】
(Results)
Consolidated Forecasts for FY2015
April 1, 2014 – March 31, 2015
(Unit: million yen)
FY2014
Results
FY2015 Year-on-year
Change Forecasts(April 25) Revised forecasts (Oct. 30)
Net sales 457,053 438,000 433,000 -5.3% -1.1%
Operating income 39,133 37,500 35,000 -10.6% -6.7%
Ordinary income 42,937 40,000 38,500 -10.3% -3.7%
Net income 23,900 22,700 21,900 -8.4% -3.5%
Capital investment 19,960 20,000 22,500 12.7% 12.5%
Depreciation 8,628 9,600 9,320 8.0% -2.9%
R&D expenses 11,635 13,400 13,160 13.1% -1.8%
Exchange rates
USD Full year average
¥100.2 Full year average
¥100.0
First half average ¥103.0
Second half average ¥107.0
CNY Full year average
¥15.9 Full year average
¥16.1
First half average ¥16.7
Second half average ¥17.2
Cash dividends per share ¥54 ¥60 ¥60
《Year-on-year》
【Net sales】
・ Decrease in revenue with decreased order volume from major customers
・ Increase in revenue due to the impact of exchange rates
【Operating income/ordinary income/net income】
・ Decrease in income due to a decrease in revenue
・ Increase in income due to the impact of exchange rates
《Compared to the forecasts (April 25)》
【Net sales】 ・Decrease in revenue with decreased order volume from major customers ・ Increase in revenue due to the impact of exchange rates 【Operating income/ordinary income/net income】 ・Decrease in income due to a decrease in revenue ・Increase in income due to the impact of exchange rates
Consolidated Forecasts for FY2015 【Revised forecasts compared to results from FY2014/Revised forecasts compared to the forecasts released on April 25】
36
68期減価償却費 不明
資料:8,566
Japan
Reasons for year-on-year rise/fall ・Decrease in revenue due to changes to model makeup ・Decrease in revenue with a decline in sales of parts supplied from Japan Reasons for rise/fall from April 25 forecasts ・Decrease in revenue with decreased order volume from major customers
Year-on-year -11,555(Down 11.0%) April 25 forecasts -7,980(Down 7.9%)
(millio
n y
en
)
China
Reasons for year-on-year rise/fall ・Decrease in revenue with decreased order volume from major customers ・Increase in revenue reflecting the impact
of exchange rates Reasons for rise/fall from April 25 forecasts ・ Decrease in revenue with decreased
order volume from major customers ・ Increase in revenue reflecting the impact
of exchange rates Exchange rate impact Year-on-year +6,312 million yen April 25 forecasts +5,205 million yen
Year-on-year -2,023(Down 1.9%) April 25 forecasts -5,310 (Down 4.9%)
Reasons for year-on-year rise/fall ・ Decrease in revenue with decreased order volume from major customers ・ Increase in revenue reflecting the impact of exchange rates Reasons for rise/fall from April 25 forecasts ・ Increase in revenue reflecting the impact of exchange rates ・Increase in revenue due to changes to model makeup Exchange rate impact Year-on-year +9,123 million yen April 25 forecasts +9,015 million yen
Year-on-year -1,658(Down 0.8%)
April 25 forecasts +15,010(Up 7.6%)
Asia and Europe
Reasons for year-on-year rise/fall ・Decrease in revenue due to changes to model makeup ・ Increase in revenue reflecting the impact of exchange rates Reasons for rise/fall from April 25 forecasts ・ Decrease in revenue with decreased order volume from major customers ・Decrease in revenue due to changes to model makeup ・ Increase in revenue reflecting the impact of exchange rates Exchange rate impact Year-on-year +1,794 million yen April 25 forecasts +2,424 million yen
Year-on-year -9,771(Down 14.4%)
April 25 forecasts -4,390 (Down 7.0%)
93,340 104,895 101,320
102,040 104,063 107,350
The Americas
212,970 214,628
197,960
58,040 67,811 62,430
FY 2014 results
Revised forecasts
April 25 forecasts
FY 2014 results
FY 2014 results
FY2015
37
Forecasts According to Segment (Net Sales)
(millio
n y
en
)
(millio
n y
en
)
(millio
n y
en
)
FY 2014 results Revised
forecasts April 25 forecasts
FY2015 Revised forecasts
April 25 forecasts
FY2015
Revised forecasts
April 25 forecasts
FY2015
Japan
Reasons for year-on-year rise/fall ・Increase in income due to cost reductions ・ Decrease in income due to decrease in revenue Reasons for rise/fall from April 25 forecasts ・ Decrease in income due to decrease in revenue
Year-on-year +796(Up 11.6%) April 25 forecasts -1,770(Down 18.7%)
China
Reasons for year-on-year rise/fall ・ Increase in income due to earnings recovery measures ・Increase in income due to changes to model makeup ・ Decrease in income due to decrease in revenue Reasons for rise/fall from April 25 forecasts ・ Increase in income due to changes to model makeup ・ Increase in income due to the impact of exchange rates ・ Decrease in income due to decrease in revenue Exchange rate impact Year-on-year +834 million yen April 25 forecasts +705 million yen
Year-on-year +1,149(Up 8.2%)
April 25 forecasts +640(Up 4.4%)
The Americas
Reasons for year-on-year rise/fall ・Increase in income due to earnings
recovery measures ・ Decrease in income due to decrease in
revenue ・Increase in income due to the impact of
exchange rates
Reasons for rise/fall from April 25 forecasts ・ Increase in income due to the impact of exchange rates ・Increase in income due to changes to model makeup Exchange rate impact Year-on-year +568 million yen April 25 forecasts +549 million yen
Year-on-year -1,034(Down 6.3%) April 25 forecasts +1,300(Up 9.3%)
Asia and Europe
Reasons for year-on-year rise/fall ・ Increase in income due to earnings recovery measures ・Decrease in income due to decrease in revenue/changes to model makeup ・ Decrease in income as a result of various increased costs Reasons for rise/fall from April 25 forecasts ・ Increase in income due to earnings recovery measures ・ Decrease in income due to decrease in revenue ・Decrease in income due to changes to model makeup Exchange rate impact Year-on-year +186 million yen April 25 forecasts +115 million yen
Year-on-year -5,074(Down 63.5%) April 25 forecasts -3,240(Down 52.6%) 15,120
2,920
7,690
15,300
6,893
9,460
13,970 14,480
16,334
14,000
7,994
6,160
FY 2014 results
FY 2014 results
FY 2014 results
FY 2014 results
38
6.6%
7.6%
13.4%
11.8%
9.3%
7.1%
13.5%
9.9%
8.2%
7.2%
5.0%
利益率 基礎資料と不一致 資料:13.4%
14.8%
Operating margin
Operating margin
Operating margin
Operating margin
Forecasts According to Segment (Operating Income)
Revised forecasts
April 25 forecasts
FY2015
Revised forecasts
April 25 forecasts
FY2015
Revised forecasts
April 25 forecasts
FY2015
Revised forecasts
April 25 forecasts
FY2015
(millio
n y
en
)
(millio
n y
en
)
(millio
n y
en
)
(millio
n y
en
)
Fluctuating sales & changes to model
makeup
-10,802 Decreased
SG&A expenses
978 Exchange
rates
1,588
Reduced costs
4,729
39,133
35,000
Fluctuating material costs
-626
FY2014 FY2015 (Revised forecasts)
Increase in income due to exchange rate impact and increased order volume from major customers
(Unit: million yen) -4,133(Down 10.6%)
Consolidated Forecasts for Operating Income 【Revised forecasts compared to FY2014】
39
8.6%
8.1%
Increase in income due to cost cutting measures as well as changes to model makeup and exchange rate impact
Decreased SG&A
expenses
654
Exchange rates
1,326
39,133
35,000
Fluctuating material costs
79
FY2014 FY2015 (April 25 forecasts)
FY2015 (Revised forecasts)
37,500 Reduced
costs
619
-2,500(Down 6.7%)
40
8.6%
(Unit:million yen)
Fluctuating sales & changes to
model makeup
-5,178
8.6%
8.1%
Consolidated Forecasts for Operating Income 【Revised forecasts compared to the forecasts released on April 25】
FY2014 FY2015 FY2015 '14.3 '15.3 '15.3
Japan
China
Capital investment(by segment)
FY2014 Results
FY2015 April 25 forecasts
FY2015 First half results
(Unit: million yen)
The revised forecasts for FY2015 expect capital investments to increase, reflecting the construction of a new plant in Mexico
'14.3 '15.3 '15.3
8,605
4,471
FY2014 FY2015 FY2015FY2014 FY2015 FY2015
FY2014 FY2015 FY2015
The Americas
1,490
Asia and Europe
Total
FY2015 Second half forecasts
2,988
April 25 forecasts
Revised forecasts
Results
9,320
2,547
5,380 4,250
654 2,600
6,698 8,300
7,227
4,850
19,960 20,000
8,628 9,600
1,576
9,400
4,200
4,500
22,500
4,400
April 25 forecasts
Revised forecasts
Results Results
April 25 forecasts
Revised forecasts
Results April 25 forecasts
Revised forecasts
Results
Total
Capital Investment and Depreciation
Capital investment
Results
Depreciation
(Unit: million yen)
41
1,653
6,412
2,910 2,924
13,895
4,849
FY2014 FY2015 FY2015
FY2015 FY2015 FY2014
April 25 forecasts
Revised forecasts
April 25 forecasts
Revised forecasts
Thank you for listening
IR inquiries TS TECH Co., Ltd. Public Relations Section, Administration Department
Phone: 048‐462‐1136
Forward-looking statements and earnings forecasts contained in this presentation
represent TS TECH’s assumptions based on information currently available and are
subject to a degree of risk and uncertainty.
Therefore, please bear in mind that actual results may vary significantly from the
forward-looking statements contained in this presentation due to a range of variable
factors.