fy2020 2 quarter consolidated financial results...+1.2 53.4 -3.3 ost & s fy2020 2q (forecast in...

FY2020 2nd Quarter

Consolidated Financial Results October 31st, 2019

AISIN SEIKI Co., Ltd. The forecasts included in this document are based on information that the Company has obtained at the time of this disclosure and certain assumptions

that the Company considers reasonable. The Company does not guarantee the predicted outcome of the forecasts. Actual results may differ significantly

from the forecast due to a variety of factors, such as exchange rates and conditions of the global market.

1/27

Contents

1.Consolidated Financial Results

(FY2020 2nd Quarter)

2.Consolidated Financial Forecast

(FY2020 2nd Half- 6 months)


(FY2020 - 12 months)

4.Reference Information

P.2-8

P.9-11

P.12-17

P.18-27

2/27

1.Consolidated Financial Results

(FY2020 2nd Quarter)

1. Revenue for FY2020 2nd Quarter decreased due to

unfavorable Automatic Transmission sales in China.

2. Operating profit for FY2020 2nd Quarter decreased due to

the decrease of sales and increase of depreciation cost

by advanced investment, in spite of cost structure

improvement and cost reduction by Structural reforms

etc.

3/27

FY2020 2nd Quarter Overview of Financial Results

3. Although results for 1st Half was as estimated, we revise

the annual forecast downward, since AT sales for 2nd Half

is expected to be lower than the original 2nd Half plan

which had not been revised in July, and also reflecting

loss on business liquidation.

(Billion yen)

FY2019 2Q FY2020 2Q Change

Results Rate to

Revenue % Results

Rate to

Revenue % Amount %

Revenue 1,994.4 - 1,913.7 - -80.7 -4.0

Operating Profit 123.2 6.2 53.4 2.8 -69.8 -56.6

Profit before

income taxes 132.2 6.6 54.4 2.8 -77.8 -58.8

Profit for the

period * 64.5 3.2 30.3 1.6 -34.2 -52.9

EPS 239.53

yen -

112.74

yen - -126.79

yen -52.9

FX Rate USD 110 yen USD 109 yen -1 yen -0.9

CNY 16.7 yen CNY 15.6 yen -1.1yen -6.6

Toyota

production (10,000 Unit)

446 461 +15 +3.3

AT sales (10,000 Unit)

506 446 -60 -11.8

FY2020 2Q

Disclosed

forecast in

July

Rate to

Revenue

%

1,910.0 -

50.0 2.6

52.0 2.7

31.0 1.6

115.03

yen -

USD 107 yen

CNY 15.6 yen

462

445

4/27

Consolidated Financial Results (FY2020 2nd Quarter)

* Profit for the period attributable to Owners of the parent

150.9 122.7

66.2 69.2

49.9 50.2

51.0 47.7

48.4 46.5

45.6 34.3

32.0

32.4

37.0

29.9

28.6

28.9

43.5

18.5

18.9

16.4

238.0

157.8

0

200

400

600

800

FY2019 2Q FY2020 2Q

VW&Audi

BMW

MITSUBISHI

SUZUKI

FCA

NISSAN

Others

VOLVO

PSA

GM

ISUZU

5/27

Sales by Customer (FY2020 2nd Quarter)

FY2019 2nd Quarter Revenue

FY2020 2nd Quarter Revenue (- 80.7)

1,994.4

Toyota

Group

1,124.2 (56.4%)

Other

Auto Makers 810.0

(40.6%)

Life & others 60.2

(3.0%)

1,913.7 Toyota

Group

1,196.2 (62.5%)

Other

Auto Makers 654.5

(34.2%)

Life & others 62.9

(3.3%)

(Billion yen)

(Billion yen)

Other Auto Makers sales breakdown

810.0

HONDA

654.5

-155.5

-28.2

+3.0

+0.3

-3.3

-1.9

-11.3 +0.4 -7.1 +0.3

-25.0

-2.5

-80.2

Chinese OEMs Total

139.8 ⇒ 66.8 (-73.0)

(Billion yen)

1,153.2

293.4

164.8 211.1 171.8

1,111.1

304.9

167.2 159.3 171.0

0

200

400

600

800

1,000

1,200

Japan NorthAmerica

Europe China Asia &Others

FY2019 2Q FY2020 2Q

70.4

0.2 3.2

33.1

15.7

23.8

0.2 2.2

14.0 13.5

0

10

20

30

40

50

60

70

80

Japan NorthAmerica


FY2019 2Q FY2020 2Q

FX

Impact

Other

factors

Japan - -42.1

North

America -4.6 +16.1

Europe -2.4 +4.8

China -10.7 -41.1

Asia &

Others +1.1 -1.9

Total -16.7 -64.0

FX

Impact

Other

factors

Japan -3.6 -43.0

North America ±0.0 ±0.0

Europe -0.1 -0.9

China -0.9 -18.2

Asia & Others +0.2 -2.4

Elimination - -0.9

Total -4.4 -65.4

-42.1

+11.5

-51.8 -0.8

-46.6

-1.0

-19.1

-2.2 +2.4

+0.0

6/27

Segment Information (FY2020 2nd Quarter)

Revenue (-80.7)

(Billion yen) (Billion yen)

Operating Profit (-69.8)

-10.2

7/27

Depreciation

Production Preparation cost

R&D cost

Fluctuations for Operating Profit (FY2020 2nd Quarter)

FY2019 2Q / FY2020 2Q (Billion yen)

Op

era

ting

Pro

fit

Sale

s flu

ctu

atio

n

Co

st s

tructu

re

imp

rovem

en

t

+14.0

-51.5

123.2

+3.1

FX

imp

act

-4.4 +2.8 C

han

ge o

f m

ate

rial p

rice

-2.5

-0.8

Fix

ed

co

st

& o

thers

-20.3

53.4

Op

era

ting

P

rofit

FY2020 2Q FY2019 2Q

-69.8 Billion yen

Stru

ctu

ral re

form

s

8/27

Depreciation

+0.4

Fluctuations for Operating Profit (FY2020 2ndQuarter)

FY2020 2Q(Forecast in July)

/ FY2020 2Q(Result)

50.0 Op

era

ting

Pro

fit (F

ore

cast)

Sale

s flu

ctu

atio

n

Co

st s

tructu

re

imp

rovem

en

t

Ch

an

ge o

f m

ate

rial p

rice

FX

imp

act

+1.0 -0.5 +1.6

+1.3 +1.2

+3.4 Billion yen

+0.5

+1.2

Op

era

ting

Pro

fit

53.4

-3.3

Fix

ed

co

st

& o

thers

FY2020 2Q

(Forecast in July) FY2020 2Q

(Billion yen)

Stru

ctu

ral re

form

s


R&D cost

9/27


(FY2020 2nd Half- 6 months)

(Billion yen)

FY2019 2H FY2020 2H Change

Results Rate to

Revenue

% Forecast

Rate to

Revenue

% Amount %

Revenue 2,048.7 - 1,926.3 - -122.4 -6.0


Profit before

income taxes 85.2 4.2 23.6 1.2 -61.6 -72.3

Profit for the

period * 45.6 2.2 9.7 0.5 -35.9 -78.7

EPS 169.11

yen -

35.68

yen -

133.43

yen -78.9


CNY 16.3 yen CNY 14.8 yen -1.5 yen -9.2

Toyota


460 444 -16 -3.5


493 479 -14 -2.8

FY2020 2H

Forecast in

April

Rate to

Revenue

%

2,060.0 -

110.0 5.3

115.0 5.6

55.0 2.7

204.09

yen -

USD 110 yen

CNY 16.4 yen

446

540

10/27

Consolidated Financial Forecast (FY2020 2nd Half- 6 months)


Pre

-conditio

ns

11/27

Lo

ss o

n

bu

sin

ess

liqu

idatio

n

+0.8 Depreciation

R&D cost

+1.8

-0.4

Forecast of Fluctuations for Operating Profit (FY2020 2nd Half- 6 months)

FY2020 2H (Forecast in April)

/ FY2020 2H (Forecast)

FY2020 2H (Forecast in April)

FY2020 2H (Forecast)

Op

era

ting

Pro

fit

(Fo

recast in

Ap

ril)

110.0

-33.5

-1.5 +1.4 -8.8 +2.2 -4.4

-14.0

-32.0

21.6

Sale

s flu

ctu

atio

n

Co

st s

tructu

re

imp

rovem

en

t

Fix

ed

co

st

& o

thers

Op

era

ting

P

rofit

(Fo

reca

st)

FX

imp

act

Op

era

ting

Pro

fit (E

xc

ep

t no

n-o

rdin

ary

fac

tors

)

67.6

Ordinary factors -42.4 billion yen

-88.4 Billion yen

Non-ordinary factors

-46.0 billion yen

Ch

an

ge o

f m

ate

rial p

rice

Stru

ctu

ral re

form

s

Qu

ality

-rela

ted

c

os

ts


(Billion yen)

12/27


(FY2020 - 12 months)

(Billion yen)

FY2019 FY2020 Change

Results Rate to

Revenue

% Results

Rate to

Revenue

% Amount %

Revenue 4,043.1 - 3,840.0 - -203.1 -5.0


Profit before

income taxes 217.4 5.4 78.0 2.0 -139.4 -64.1

Profit for the

period * 110.1 2.7 40.0 1.0 -70.1 -63.7

EPS 408.64 yen

- 148.42

yen - -260.22

yen -63.7


CNY 16.5 yen CNY 15.1 yen -1.4 yen -8.5

Toyota


906 905 -1 -0.1


999 925 -74 -7.4

FY2020

Forecast

in July Rate to

Revenue %

3,970.0 -

160.0 4.0

167.0 4.2

86.0 2.2

319.11 yen

-

13/27

Pre

-conditio

ns


Consolidated Financial Forecast (FY2020 - 12 months)

286.5 267.0

130.7 159.7

116.0 119.6

105.4 103.1

106.0 97.5

87.7 67.2

65.4 63.8

74.0 62.3

54.1 54.5

74.1 35.2

80.1 34.6

419.0

326.5

0

200

400

600

800

1,000

1,200

1,400

1,600

FY2019 FY2020

HONDA

FCA

BMW

Others

NISSAN

-19.5

+29.0

+3.6

-2.3

-8.5

-20.5

-1.6

+0.4 -38.9

-11.7

-92.5

14/27

GM

-45.5

FY2019 Revenue

FY2020 Revenue (- 203.1)

Life & others

Other

Auto Makers

1,599.0

(39.6%)

127.2 (3.1%)

Toyota

Group 2,316.8 (57.3%)

4,043.1

(Billion yen)

Toyota

Group 2,323.0 (60.5%)

3,840.0

Other

Auto Makers

1,391.0

(36.2%)

Life & others 126.0 (3.3%)

(Billion yen)

1,599.0

1,391.0

-208.0

Chinese OEMs Total

258.7 ⇒135.2(-123.5)

Other Auto Makers sales breakdown

(Billion yen)

VW&Audi

PSA

SUZUKI

VOLVO

MITSUBISHI .

Guangzhou Automobile

Forecast of Sales by Customer (FY2020 - 12 months)

2,376.3

585.4

350.0 377.5 353.7

2,208.0

585.0

375.0 331.0 341.0

0

500

1,000

1,500

2,000

2,500

Japan NorthAmerica


FY2019 FY2020

122.9

- 2.5

5.5

45.2

32.2

45.0

- 11.0

5.0 10.0

26.0

(12)

94

Japan NorthAmerica


FY2019 FY2020

FX

Impact

Other

factors

Japan - -168.3

North

America -22.3 +21.9

Europe -6.0 +31.0

China -28.5 -18.0

Asia &

Others -3.0 -9.7

Total -60.0 -143.1

FX

Impact

Other

factors

Japan -13.5 -64.4

North America +0.4 -8.9

Europe -0.4 -0.1

China -0.8 -34.4

Asia & Others +0.1 -6.3

Elimination - -2.0

Total -14.2 -116.3

-168.3

-0.4

-46.5 -12.7

-0.5

-35.2

-6.2 +25.0

-77.9

-8.5

15/27

Revenue (-203.1) Operating Profit (- 130.5)

(Billion yen) (Billion yen)

Forecast of Segment Information (FY2020 - 12 months)

Op

era

ting

Pro

fit

FX

imp

act

205.5 F

ixed

co

st

& o

thers

16/27

Operating Profit (Forecast)

Quality-related costs

Depreciation


R&D cost

Sale

s

fluctu

atio

n

Co

st s

tructu

re

imp

rovem

en

t

Ch

an

ge o

f m

ate

rial p

rice

Stru

ctu

ral re

form

s

Op

era

ting

Pro

fit (F

ore

ca

st)

(Ex

ce

pt n

on

-ord

ina

ry

fac

tors

for F

Y

)

+26.2 231.7

-96.0

+34.5

+7.0 -14.2

+1.0 -18.6

-7.5

-4.9 -2.5 130.5

-23.5

-32.0

75.0


-130.5 Billion yen

Non-ordinary

factors for FY2020

-55.5 billion yen

Non-ordinary

factors for FY2019

+26.2 billion yen

FY2019 / FY2020

qu

ality

-rela

ted

c

osts

for F

Y 2

01

9

Op

era

ting

Pro

fit (Fo

recast)

(Ex

ce

pt n

on

-ord

ina

ry fa

cto

rs fo

r FY

) 2

01

9

FY2019 FY2020 （Forecast)

20

20

(Billion yen)

Forecast of Fluctuations for Operating Profit (FY2020 - 12 months)

Loss on business liquidation

17/27

FY2020 （Forecast in July)

Op

era

ting

Pro

fit (F

ore

cast)

160.0

-32.5

Sale

s

fluctu

atio

n

Co

st s

tructu

re

imp

rovem

en

t

Stru

ctu

ral re

form

s

-2.0 +3.0 -7.5

FX

imp

act

Ch

an

ge o

f m

ate

rial p

rice

+3.4

Depreciation +2.0

Production Preparation cost +2.3

R&D cost ±0

-3.5

Fix

ed

co

st

& o

thers

Op

era

ting

Pro

fit (Fo

recast)

(Ex

ce

pt n

on

-ord

ina

ry fa

cto

rs )

125.2 -18.2

qu

ality

-rela

ted

c

osts

-32.0

Op

era

ting

Pro

fit (F

ore

ca

st)

75.0

FY2020 （Forecast)

FY2020 (Forecast July)

/ FY2020 (Forecast) (Billion yen)


-85.0 Billion yen

Non-ordinary factors

-50.2 billion yen

Forecast of Fluctuations for Operating Profit (FY2020 - 12 months)

loss o

n

bu

sin

ess

liq

uid

atio

n

18/27

4.Reference information

82.2 88.5 92.7 99.4

68.5 73.1

76.8 95.5 15.3

18.3 22.6

25.1

FY2017 FY2018 FY2019 F2020(Forecast)

72.0 74.5 81.0 82.7

69.2 80.3

92.0 98.0 18.0

20.1 22.3 22.6

FY2017 FY2018 FY2019 FY2020(Forecast)

Others

ADS-G

AW-G

AISIN SEIKI-G

102.8 122.5

169.0 126.3

72.3

87.3

144.9

123.5 39.7

19.0

32.9

38.8


19/27

(Billion yen)

237.4

389.9

260.3

Capital Expenditure Depreciation

320.0

197.1 213.4

226.4 245.0

167.7 182.9

202.1 (4.7%) (5.0%)

(4.7%) 207.0 (5.4%)

AW-G of

FY2020(Forecast)

amount includes

AISIN AI Group by

integration.

（）: Rate to sales

Capital Expenditure/Depreciation/ R&D Expenditure

R&D Expenditure

73 74 73 85

83 76 73 84

76 81 79 79

81 83 90 80

FY2017 FY2018 FY2019 FY2020

4Q

3Q

2Q

1Q

153 143 151 148

148 147 149 144

151 151 155 147

144 137 136 138

FY2017 FY2018 FY2019 FY2020

226 217 224 233

231 223 222 228

227 232 234 226

225 220 226 218

FY2017 FY2018 FY2019 FY2020

20/27

Toyota car production

313 314 315 328

Toyota Domestic production

Toyota Oversea production

Toyota global production

(Forecast) (Forecast)

596 578 591 577

906 909 892 905

(Forecast)

(10,000 Unit)

44 43 46 41

45 45 43 37

43 47 41

46 46 40

67

0

50

100

150

200

FY2017 FY2018 FY2019 FY2020

204 233 260 226

207 234 246 220

224 258 246

234 258 247

479

0

200

400

600

800

1,000

FY2017 FY2018 FY2019 FY2020

42 42 43 28

39 34 39 29

45 48 36

39 40 33

57

0

50

100

150

200

FY2017 FY2018 FY2019 FY2020

16 13 17 23

14 13 18

19 12 13

20 13 14

17 35

0

20

40

60

80

FY2017 FY2018 FY2019 FY2020

21/27

Sales Number

AT sales

Navigation System sales

MT sales

Navigation Soft sales

178 170 181 145

(Forecast)

869 999 983 925

(Forecast)

(10,000 Unit)

(10,000 Unit)

165 151

164

114

2nd H (10,000 Unit)

(10,000 Unit)

(Forecast)

(Forecast)

53

72

55

77

119 130 129

118

109 111 111 107 80

100

120

140

EUR

USD

16.5 15.1 16.1 16.8

3.4 3.5 3.1 3.4

0.0

10.0

20.0


CNY

THB


USD 1.34 1.13 1.13 1.00

EUR 0.17 0.19 0.17 0.16

THB * 0.81 1.26 1.55 1.55

CNY * 0.79 0.81 0.76 0.58

Rate after Oct

USD 105

EUR 115

THB 3.4

CNY 14.8

22/27

Foreign Currency Exchange Rate

Foreign Exchange Rate

(Billion yen)

Impacts on

Operating Profit Forex Impact on Operating

profit per 1(or 0.1) yen

* Impacts of THB and CNY are per 0.1yen.

(yen)

30.1

3.1

0

30

60

90

1201,782.6

1,641.9 80.5

1,776.2

78.0


◆ ◆ 4.9% 4.4%

3.8%

33.2

861.3

838.7

0

500

1,000

1,500

2,000

2H

1H

18.0

10.0

0

60

120

180

802.2

842.8

0

600

1,200

1,800

◆

1.7%

8.1% 8.6%

6.1% ◆

◆

◆

2H

1H

23/27

67.0

◆

1,700.0

◆ 2.0%

Financial Results of the Main Consolidated Companies Ⅰ

(Billion yen)

AISIN SEIKI Group

AISIN AW Group (after integration with AISIN AI Group)

1,542.1

124.2

1,738.1

150.1

1,799.2

110.2

1,645.0

28.0

(Billion yen)


(Billion yen)

(Billion yen)

1H

2H

1H

2H

5.0

4.0

0

10

20

30

161.8

152.5

0

100

200

300

400

◆ ◆

◆

2H

1H

- 0.7 7.0

-5

0

5

10

15

20

25

297.2

288.6

0

200

400

600

800◆

◆ ◆

◆

2H

1H

◆

24/27

AISIN Takaoka Group

Financial Results of the Main Consolidated Companies Ⅱ

ADVICS Group

273.0

12.3

295.7

11.9

320.7

13.5

4.2% 4.5% 4.1% (Billion yen)


314.3

2.9%

9.0

(Billion yen)

(Billion yen)


555.4

6.1

586.5

10.1

2.0%

1.1% 1.7%

600.4

11.8

585.8

6.3

(Billion yen)

1.1%

1H

2H

1H 2H

838.6 858.8 907.5 957.5 917.0 938.0

1,023.5 1,030.2 1,007.9 986.5 1,018.9 1,029.7 963.0 950.7

226 231 227 225

217 223 232

220 224 222 234 226 233

228

0

50

100

150

200

250

0

600

1,200

1,800

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

59.0

35.7

67.3 66.4

53.5 54.4

77.6 68.1 64.8

58.3

38.1 44.1

25.5 27.9

7.0%

4.2%

7.4% 6.9%

5.8% 5.8%

7.6% 6.6% 6.4%

5.9%

3.7% 4.3%

2.7% 2.9%

0.0%

2.0%

4.0%

6.0%

8.0%

0

30

60

90

120

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q25/27

Quarterly Performance

Operating Profit

Revenue

FY2017 FY2018 FY2019 FY2020

FY2017 FY2018 FY2019 FY2020

(Billion yen)

(Billion yen)

(10,000 Unit)

94.8

133.8

108.0

145.7 123.2

82.3

53.4 21.6

5.6%

7.2%

5.8%

7.1%

6.2%

4.0%

2.8%

1.1%

0.0%

2.0%

4.0%

6.0%

0

30

60

90

120

150

180

210

1H 2H 1H 2H 1H 2H 1H 2H

1,697.5 1,865.0 1,855.1 2,053.8 1,994.4 2,048.7 1,913.7 1,926.3

457 452 440 452 446 460 461 444

0

120

240

360

480

0

600

1,200

1,800

2,400

3,000

1H 2H 1H 2H 1H 2H 1H 2H (Forecast)

26/27

Half Yearly Performance

Operating Profit

Revenue

(Billion yen)

(Billion yen)

FY2017 FY2018 FY2019 FY2020

(10,000 Unit)

FY2017 FY2018 FY2019 FY2020 (Forecast)

45 50 50 60 60 60

50 50 75 90 90

60

34.7% 28.2% 28.1% 30.6% 36.7%

80.9%

-80%

-60%

-40%

-20%

0%

20%

40%

60%

80%

0

50

100

150

200

250

300

FY2015 FY2016 FY2017 FY2018 FY2019 FY2020(Forecast)

FY2015 FY2016 FY2017 FY2018 FY2019 FY2020

(Forecast)

Interim 45 50 50 60 60 60

Year-end 50 50 75 90 90 60

Total 95 100 125 150 150 120

Dividend Payout

Ratio 34.7% 28.2% 28.1% 30.6% 36.7% 80.9%

Repurchase of

Treasury Stock

(billion yen) 0.0 0.0 49.0 59.4 0.0 －

Total return Ratio(*) 34.7% 28.2% 66.5% 74.5% 36.7% －

27/27

Dividend per Share * The results of FY2015 are based on JGAAP and the others are based on IFRS.

Div

ide

nd

(ye

n)

(*) Total return Ratio= (Cash dividend paid + repurchase of treasury Stock) / Profit for the period

95 100 125

150 150 120

fy2020 2 quarter consolidated financial results...+1.2 53.4 -3.3 ost & s fy2020 2q (forecast in...

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