Factbook : Second Quarter of 2022（444KB）

Factbook

Second Quarter of 2022 [April 1 to June 30, 2022]

Actuating Your Dreams

Contents

【 Consolidated Data 】
Sales & Profit ---------------------------------------------------------------------------------------------	2
Assets, Liabilities, Net Assets and Cash Flows ---------------------------------------------------	3
Cash Dividend per Share ------------------------------------------------------------------------------	3
Capital Expenditures and R&D Expenses ----------------------------------------------------------	4
Number of Employees ---------------------------------------------------------------------------------	4
Motor Sales / Motor Sales Quantity --------------------------------------------------------------	5,6
Manufacturing Quantity of Motor -------------------------------------------------------------------	6
Stock Information ---------------------------------------------------------------------------------------	7
Consolidated Subsidiaries -----------------------------------------------------------------------------	8
Corporate Profile ----------------------------------------------------------------------------------------	8

Factbook Q2 2022

1

Sales & Profit

						Net Sales												■ Gross Profit	-◆- Gross Profit Ratio
（Millions of yen）													（Millions of yen）
40,000											36, 731		20,000																32%
								35,179
												25.9%
			33,850				33,259											26.3%			26.1%		26.0%
				32,038
30,000															15,000												20.4%			24%
																					9,151
																			8,907
20,000															10,000							8,684					16%
																	8,292
																						7,501
10,000															5,000														8%
0																0																	0%
			'21.Q2		'21.Q3		'21.Q4	'22.Q1		'22.Q2					'21.Q2		'21.Q3		'21.Q4		'22.Q1		'22.Q2

• Operating Income -◆- Operating Income Ratio

（Millions of yen）

8,000				10.1%																12%
							7.7%			8.1%
6,000												7.7%						9%
4,000																				6%
			3,405
					2,682	2,704
					2,469	3.1%
2,000																				3%
														1,132
0																				0%
	'21.Q2			'21.Q3	'21.Q4		'22.Q1		'22.Q2
						Profit attributable to owners of parent
（Millions of yen）
6,000
																5,367
4,000
								3,286
											3,058
				2,738	2,463
2,000
0
		'21.Q2			'21.Q3	'21.Q4		'22.Q1	'22.Q2

• Ordinary Income -◆- Ordinary Income Ratio

（Millions of yen）										20.5%
10,000															20%
										7,522
											14.0%
7,500			13.1%								15%
			11.8%			12.1%
5,000			4,444							4,924				10%
					4,037
			3,770
2,500															5%
0															0%
		'21.Q2		'21.Q3		'21.Q4		'22.Q1
						'22.Q2

Profit per Share

（Yen）

100

83.06

75

							50.15	46.97
50			41.62
			37.45
25
0
		'21.Q2		'21.Q3		'21.Q4	'22.Q1	'22.Q2

Unit : Millions of yen (YOY)

Fiscal Term	2021.Q2	2021.Q3	2021.Q4	2022.Q1	2 0 2 2 .Q 2	2021 Full Year	2022 Projection
		%		%		%		%		%		%		%
Net Sales	33,850		70.5	32,038		-1.1	33,259		-5.5	35,179		-0.8	36,731	8.5	134,595	15.6	153,000	13.7
Gross Profit	8,907		46.8	8,292		-1.5	8,684		-25.6	9,151		-13.1	7,501		-15.8	36,415		4.5	38,000		4.4
Operating Income	3,405		689.5	2,469		-16.5	2,682		-58.3	2,704		-48.4	1,132		-66.7	13,800		7.0	11,500		-16.7
Ordinary Income	4,444		162.3	3,770		32.5	4,037		-40.9	4,924		-32.7	7,522		69.3	19,570		54.4	18,800		-3.9
Profit attributable to owners of parent	2,738		-	2,463		-25.3	3,286		-31.9	3,058		-46.9	5,367		96.0	14,251		58.6	13,000		-8.8
Profit per Share (Yen)	41.62		-	37.45		-24.7	50.15		-31.5	46.97		-46.3	83.06		99.6	216.75		59.8	200.77		-7.4
Gross Profit Ratio ( % )	26.3			25.9			26.1			26.0			20.4			27.1			24.8
Operating Income Ratio ( % )	10.1			7.7			8.1			7.7			3.1			10.3			7.5
Ordinary Income Ratio ( % )	13.1			11.8			12.1			14.0			20.5			14.5			12.3
ROIC ( % )	-			-			-			-			-			6.1			-
ROE ( % )	-			-			-			-			-			5.7			-
ROA ( % )	-			-			-			-			-			7.1			-

Figures for ROIC, ROE and ROA are for annual results only.

ROIC = (Operating profit × (1 - Effective tax rate)) / (Accounts receivable-trade + Inventories + Non-Current assets (excluding Investment securities) - Accounts payable-trade)

2	Factbook Q2 2022

Assets, Liabilities, Net Assets and Cash Flows

														Inventories													■ Cash Flows from Operating Activities	■ Cash Flows from Investing Activities
（Millions of yen）																							65,176							-◆- Free Cash Flows				■ Cash Flows from Financing Activities
60,000																																					（Millions of yen）
															50,920
															41,988
40,000						36,850																														15,000
							32,519
																																													13,613
																																																12,474
20,000																																					10,000
0
									'20.6	'20.12					'21.6		'21.12					'22.6
																																											5,127							4,575
（Millions of yen）			■ Net Assets	-◆- Equity Ratio										5,000											4,168
									93.0%																																				963				352
400,000									91.0%				91.0%						90.9%					91.7%			100%
																			0
																																														-1,139											-	2,050
300,000																														286,098		75%
																				259,909
							235,208	239,103	254,148														-4,164	-4,545			-4,222		-5,509				-4,094
200,000																																		50%				-5,000					-5,776
																																												-6,407							-4,579						-6,875
100,000																																		25%																		-8,747			-	6,145
0																																			0%				-10,000
																																						'20.1stHF	'20.2ndHF	'21.1stHF	'21.2ndHF		'22.1stHF
					'20.6	'20.12					'21.6		'21.12					'22.6
																																																								Unit : Millions of yen (YOY)
														As of			2020.6.30						2020.12.31			2021.6.30			2021.12.31					2 0 2 2 .6 .3 0
																												%										%								%						%								%
	Inventories									36,850				12.3			32,519				-4.0		41,988			13.9		50,920			56.6			65,176	55.2
	Current Assets									164,365				-3.1	173,394				-0.1		183,899			11.9		185,577			7.0			202,614			10.2
	Current Liabilities									12,669				-19.8			18,193				6.3		19,446			53.5		21,136			16.2			21,095			8.5
											Current Ratio ( % )			1,297										953						946						878									960
	Net Assets									235,208				-1.5	239,103				-2.5		254,148			8.1		259,909			8.7			286,098	12.6
	Total Assets									252,853				-2.3	262,559				-2.1		279,308			10.5		285,704			8.8			312,000			11.7
											Equity Ratio ( % )			93.0										91.0						91.0						90.9									91.7
	Cash & Cash Equivalents						105,974				0.5	110,190				-0.6		111,124			4.9		103,539			-6.0			100,940	-9.2
																																																											Unit : Millions of yen
												Fiscal Term			2020.1stHF		2020.2ndHF			2021.1stHF			2021.2ndHF						2 0 2 2 .1 st HF
	Cash Flows from Operating Activities			5,127				-			13,613				-		4,575			-		4,168			-			-2,050	-
	Cash Flows from Investing Activities			-4,164				-			-1,139				-		-4,222			-		-8,747			-			-4,094			-
	Free Cash Flows									963				-			12,474				-		352			-		-4,579			-			-6,145			-
	Cash Flows from Financing Activities			-4,545				-			-6,407				-		-5,509			-		-5,776			-			-6,875			-
			Cash Dividend per Share
	（Yen）		■ Interim	■ Year-end																																				Unit ： Yen
160																																								Fiscal Term		2019		2020					2021			2022
																																																		Forecast
								135.0		135.0									135.0
120													115.0																							Interim							67.0		67.0					57.0			67.0
									68.0		68.0							68.0										Cash Dividend		Year-end				68.0		68.0					58.0			68.0
														58.0
80																												per Share
																																								Annual							135.0		135.0					115.0			135.0
40																																						(Special Dividend)				(105.0)		(105.0)					(85.0)			(105.0)
							67.0		67.0		57.0			67.0
																																Payout Ratio ( % ) (Consolidated)				63.1		99.5					53.1			67.2
0
							2019		2020		2021			2022
																				Forecast

Factbook Q2 2022

3

Capital Expenditures and R&D Expenses

（Millions of yen）	Capital Expenditures
7,500
										6,169
5,000
			3,874
	3,861
											3,592
2,500					3,452
0
	'20.1stHF	'20.2ndHF	'21.1stHF	'21.2ndHF	'22.1stHF

Depreciation and Amortization

（Millions of yen）
7,500
					5,674
			4,622	5,043
5,000	4,290	4,357
2,500
0
	'20.1stHF	'20.2ndHF	'21.1stHF	'21.2ndHF	'22.1stHF

				■ R & D Expenses -◆- R & D Expenses / Net sales											R & D Personnel
（Millions of yen）																									（Number of Employees）
																										600
5,000					4.5%																				5%
													4.2%																			496
																	3.6%								487		481	466			482
4,000																					4%
							3.3%
3,000											2.8%				2,767								3%	400
															2,564
			2,204				2,248
2,000									1,944													2%	200
1,000																									1%			0
0																										0%
				'20.1stHF	'20.2ndHF	'21.1stHF	'21.2ndHF		'22.1stHF							'20.1stHF	'20.2ndHF		'21.1stHF	'21.2ndHF	'22.1stHF
																																											Unit : Millions of yen (YOY)
									Fiscal Term	2020.1stHF		2020.2ndHF			2021.1stHF	2021.2ndHF	2 0 2 2 .1 st HF		2021 Full Year	2022 Projection
																%			%						%						%		%				%				%
	Capital Expenditures				3,861			-53.4		3,874	-59.8				3,452	-10.6	6,169			59.2	3,592	4.1			9,622	24.4	10,411	8.2
	Depreciation and Amortization	4,290			4.4		4,357	4.8				4,622	7.7	5,043			15.8	5,674	22.8			9,666	11.8	11,860	22.7
	R & D Expenses				2,204			-10.5		2,248	-9.8				1,944	-11.8	2,767			23.1	2,564	31.9			4,711	5.8	5,416	15.0
	R & D Expenses / Net Sales ( % )	4.5					3.3								2.8			4.2				3.6					3.5			3.5
							R & D Personnel	487			4.1		481	0.4				466	-4.3	482			0.2	496	6.4			482	0.2	503	4.4
				(Number of Employees)

Number of Employees

(C o n so l i dat e d)Unit ： Number of Employees (Ratio) (YOY)

As of	2020.6.30		2020.12.31		2021.6.30		2021.12.31		2022 .6 .30
		%		%		%			%		%		%		%			%		%			%
Production Division	19,087	91.9		-6.2	19,849	92.4			-2.7	19,837	92.5		3.9	19,273	92.2			-2.9	18,788	92.0			-5.3
Sales Division	256	1.2		-3.0	253	1.2			-1.2	251	1.2		-2.0	247	1.2			-2.4	259	1.3			3.2
R & D Division	623	3.0		1.0	602	2.8			-2.3	578	2.7		-7.2	596	2.9			-1.0	615	3.0			6.4
Administrative Division	796	3.8		4.2	773	3.6			-2.8	778	3.6		-2.3	778	3.7			0.6	768	3.8			-1.3
Total	20,762	100.0		-5.6	21,477	100.0			-2.6	21,444	100.0		3.3	20,894	100.0			-2.7	20,430	100.0			-4.7
(No n - Co n so lidat e d)
As of	2020.6.30		2020.12.31		2021.6.30		2021.12.31		2022 .6 .30
					%						%					%						%						%
Total	867				0.7	851					0.2	836				-3.6	836					-1.8	843					0.8

4	Factbook Q2 2022

Motor Sales by Application / Motor Sales Quantity by Application

									■ Automotive Products				■ Life & Industrial Products
（Millions of yen）
40,000
																							36,730
33,847				32,034					33,237		35,175
30,000
20,000
10,000
		0
			'21.Q2		'21.Q3					'21.Q4		'22.Q1		'22.Q2
Motor Sal es																																Unit : Millions of yen (Ratio) (YOY)
Fiscal Term		2021.Q2		2021.Q3					2021.Q4					2022.Q1						2 0 2 2 .Q 2
					%			%		%		%			%	%				%	%		%	%
Automotive Products		24,691	72.9			90.4	22,851	71.3		-2.0		23,988	72.2	-9.3		25,804	73.4	-3.4	26,696	72.7	8.1
Life & Industrial Products		9,155	27.1			32.9	9,182	28.7		1.0		9,249	27.8	5.9		9,371	26.6	7.6	10,033	27.3	9.6
Total Sales		33,847	100.0			70.5	32,034	100.0		-1.1		33,237	100.0	-5.5		35,175	100.0	-0.7	36,730	100.0	8.5
Motor Sal es Quanti ty																																		Unit : In Millions (Ratio) (YOY)
Automotive Products		237	69.2			77.0	215	67.3		-3.6		222	69.5	-17.0		237	72.0	-9.2	221	70.5	-6.8
Life & Industrial Products		105	30.8			32.1	104	32.7		-2.6		97	30.5	-8.2		92	28.0	-10.1	92	29.5	-12.2
Total Sales		342	100.0			60.2	320	100.0		-3.3		319	100.0	-14.5		329	100.0	-9.4	313	100.0	-8.5
A verag e Sal es Pri ce																																					Unit : Yen
Fiscal Term		2021.Q2		2021.Q3					2021.Q4					2022.Q1						2 0 2 2 .Q 2
Automotive Products				104.07					106.03							108.05						108.68							120.72
Life & Industrial Products				86.66					87.56							94.71						101.66							108.18
Total Sales				98.71					99.98							103.98						106.72							117.02
A verag e Ex chang e R ate																																					Unit : Yen
US$ :				109.49					110.11							113.71						116.20							129.57
																																	Unit : Millions of yen (Ratio) (YOY)
						Fiscal Term						2021 Full Year												2022 Projection
																		%			%													%			%
			Automotive Products			98,246					73.0			16.0				113,245						74.0			15.3
Motor Sales		Life & Industrial Products		36,297					27.0			14.5				39,754						26.0			9.5
				Total Sales			134,544					100.0			15.6				153,000						100.0			13.7
																																			Unit : In Millions (Ratio) (YOY)
			Automotive Products			936					69.5			10.5				946						72.2			1.0
Motor Sales Quantity		Life & Industrial Products		410					30.5			9.3				363						27.8	-11.4
				Total Sales			1,346					100.0			10.1				1,310						100.0			-2.7
																																						Unit : Yen
						Fiscal Term						2021 Full Year												2022 Projection
			Automotive Products							104.93												119.70
Average Sales Price		Life & Industrial Products									88.38												109.24
				Total Sales										99.89												116.79
Average Exchange Rate				US$ :							109.80												123.94

Factbook Q2 2022

5