Furuno Electric : Financial Results Briefing Materials (1.56MB)
January 16, 2023 at 11:40 am
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3rd Quarter of Fiscal Year 2022 (Ending February 28, 2023)
Financial Results Briefing Materials
January 16, 2023
FURUNO ELECTRIC CO., LTD.
Cautions:
This document is a translation of the Japanese original, which is authoritative.
The information listed in these materials regarding the Company's forecasts are determined by management, based on the information available at the time of announcement, and potential risks and uncertainties. It should be noted that the actual results may differ substantially from these forecasts, due to these various elements.
The numerical values shown in these materials are the monetary amounts listed in the consolidated balance sheet, consolidated profit-and-loss statement,
consolidated statement of changes in shareholders' equity, and notes to consolidated financial statements. Shown values of less than one unit are truncated, and
ratios and other values are rounded off.
"E" in this material represents that the figure is an estimation or a projection for operation.
"FY" in this material indicates the fiscal year ending February 28 (29) of the succeeding year.
"3Q" in this material represents the nine-month period beginning on March 1 and ending on November 30.
FURUNO ELECTRIC CO., LTD. All Rights Reserved.
Summary of 3rd Quarter of FY 2022
Net Sales: Increase
Increase in overseas sales, especially Europe, for Marine Business helped by a weak yen, despite sales opportunities loss with production delays
Gross Profit: Increase
Increase in gross profit with increase in sales for Marine Business, despite soaring components prices
Operating Profit: Decrease
Increase in SG&A expenses with investments for future growth
FURUNO ELECTRIC CO., LTD. All Rights Reserved.
2
Consolidated Income Statement
Increase in SG&A expenses with continuous investments for future growth
(Unit: Millions of yen)
FY 2021
FY 2022
Year-over-Year
Year-over-Year
Impact Amount*
3rd Quarter
3rd Quarter
(amount)
(ratio)
Net sales
62,613
64,979
+2,366
+3.8%
+500
Gross profit
24,057
25,252
+1,194
+5.0%
+84
(Sales ratio)
(38.4%)
(38.9%)
Operating profit
2,835
1,324
-1,510
-53.3%
+84
(Sales ratio)
(4.5%)
(2.0%)
Ordinary profit
3,343
2,306
-1,036
-31.0%
*Change in
(Sales ratio)
(5.3%)
(3.6%)
accounting standard
Profit attributable to
2,270
owners of parent
1,276
-993
-43.8%
(Sales ratio)
(3.6%)
(2.0%)
R&D expenses
3,896
4,119
+222
+5.7%
(Sales ratio)
(6.2%)
(6.3%)
Capital investment
2,549
1,962
-586
-23.0%
(Sales ratio)
(4.1%)
(3.0%)
Depreciation expenses
2,318
2,260
-58
-2.5%
(Sales ratio)
(3.7%)
(3.5%)
(Unit: Yen, annual average exchange rate)
1 USD
108
125
+17
+15.9%
1 EUR
130
136
+6
+4.7%
FURUNO ELECTRIC CO., LTD. All Rights Reserved.
3
Analysis of Increase/Decrease in Net Sales
Addition of consolidated subsidiaries and overseas sales increase in Marine Business
660
(Unit: 100 Millions of Yen)
650
640
Asia
Other
-3.2
Regions
630
-1.3
Other Business
Industrial+0.5
Business
+0.5
Europe
Wireless
+6.1
LAN Systems
Japan
Americas
+4.7
+2.0
+0.4
Consolidated
Subsidiaries
620
610
600
626
+14.1
650
Marine Business
+18.1
FY 2021
3rd Quarter
Sales
FY 2022
+23.7
3rd Quarter
FURUNO ELECTRIC CO., LTD. All Rights Reserved.
4
Analysis of Increase/Decrease in Gross Profit on Sales
270
260
250
240
230
220
210
200
Increase in components prices but increase in overseas sales, etc. in Marine Business
(Unit: 100 Millions of Yen)
Marine
Wireless LAN Systems
Sales Increase.
Overseas Sales
+2.0
Marine
Increase, etc.
Components
+32.5
Prices Increase, etc.
-24.1
Others
Industrial
-0.4
Sales Increase, etc.
+1.9
241
253
FY 2021
Gross Profit on Sales
FY 2022
3rd Quarter
+11.9
3rd Quarter
FURUNO ELECTRIC CO., LTD. All Rights Reserved.
5
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Furuno Electric Co. Ltd. published this content on 16 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 January 2023 11:39:03 UTC.
Furuno Electric Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of marine electronic devices and industrial electronic devices based on sensor technology centered on ultrasonic waves and electromagnetic waves. The Company operates through three business segments. The Marine Business segment is engaged in the manufacture and sale of navigation equipment, fishing equipment, wireless communication equipment and others. The Industrial Business segment is engaged in the provision of medical equipment, intelligent transportation systems (ITS) equipment, global positioning system (GPS) equipment and aircraft electronics. The Wireless Local Area Network (LAN)/Handy Terminal Business segment is mainly engaged in the manufacture and sale of wireless LAN systems and handy terminals. The Company is also engaged in the electromagnetic environment test business, and digital communication business for the shipping industry.