FY2023 Second Quarter
Financial Result
From April 1 through March 31, 2023
TACHI-S CO.,LTD.
November 24, 2023
Securities Code: 7239 (Tokyo/Prime)
Corporate Overview
Company Name | : TACHI-S CO., LTD. |
Corporate | : 1-3-1,Suehiro-cho,Oume-shi, Tokyo |
Headquarters | |
Date of | : April, 1954 |
Establishment | |
Paid-in Capital | : 9.04 billion yen |
Net Sales | : 243.4 billion yen (Consolidated) |
(Fiscal Year Ended March 31, 2023) | |
Number of | : 10,556 (Consolidated) (As of March 31, 2023) |
Employees | |
Stock Exchange | : Tokyo / Prime Market (Securities Code: 7239) |
Listing | |
Business | : Manufacturing of automotive seats |
Contents |
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Contents
FY2023 Q2 Results
FY2023 Financial Forecast
Progress of the Medium-Term
Management Plan (TVE*)
Shareholder Return
Activity Report
※Transformative Value Evolution
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2Q results (consolidated)
Compared to last term
Unit: billion yen (Rounded down to 0.1 billion yen)
22/09 | 23/09 | Change | Change (%) | |||
Sales | 107.9 | 137.7 | 29.8 | 27.6 | ||
Operating profit | -4.3 | 1.7 | 6.1 | - | ||
Ordinary profit or loss | -3.9 | 1.8 | 5.7 | - | ||
Quarterly profit or loss | 0.1 | 1.2 | 1.1 | 669.8 | ||
attributable to owners of | ||||||
parent company | ||||||
<Overview of financial results for period to September>
- Sales amount rose on the back of sales recovery in Japan, U.S. and Latin America and the impact of foreign currency translation adjustments due to the depreciation of the yen in comparison with the same period last year despite sales downfall in gasoline-powered model in China
- Operating profit posted the black mainly because of revenue increase and contributions from rationalization efforts including fixed cost reduction.
- Quarterly net income increased compared with the same period last year although the amount of change from the same period of the previous year was smaller due to the recording of an extraordinary profit from the sale of real estate in the same period of the previous year
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Reasons for change in performance (consolidated)
Compared to last term
137.7
Sales | (Rounded down to 0.1 billion yen) | |
Unit: billion yen | ||
Region | Change | Rate of change |
107.9
58.9
27.9
41.4
+0.0
7.8
1.4
Japan | 16.3 | 38.5% |
North America | 6.8 | 32.5% |
Central and | 12.8 | 44.8% |
South America | ||
Europe | -0.1 | -99.9% |
China | -6.7 | -46.0% |
Southeast Asia | 0.6 | 70.9% |
22/09 23/09
Exchange | 22/09 | USD=¥131.56 | RMB=¥18.75 |
Rate | 23/09 | USD=¥139.93 | RMB=¥19.40 |
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Reasons for change in performance (consolidated)
Compared to last term
Operating profit and loss
1.7 | Region | Change | |||||
0.9 | Japan | 3.1 | |||||
0.8 | Central and | 2.4 | |||||
South | |||||||
America | |||||||
+0 | Europe | -0 | |||||
-4.3 | |||||||
+0 | Southeast Asia | 0.2 | |||||
-0 | North America | 1.1 | |||||
-0 | |||||||
China | -0.7 | ||||||
23/09 | |||||||
22/09 |
Unit: billion yen (Rounded down to 0.1 billion yen)
Net profit or loss attributable to
owners of parent
1.2 Region Change
Central and | ||
1.1 | South | 2.5 |
America |
0.1 | Europe | +0 | |||
+0 | |||||
China | -0 | ||||
0.1 | +0 | Southeast Asia | 0.1 | ||
Equity method | |||||
0.3 | affiliates | +0 | |||
22/09 | -0.2 | Japan | -2.6 | ||
-0.1 | North America | 1.0 | |||
23/09 |
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Yamataka factor analysis of operating profit and loss
(consolidated)
Operating profit posted the black on the back of sales recovery except for China and contributions from improvement in profitability structure
Unit: billion yen | |||||||||||||||||||||||||
Compared to last term | |||||||||||||||||||||||||
(Rounded down to 0.1 billion yen) | |||||||||||||||||||||||||
4.0 | |||||||||||||||||||||||||
Contributions from profit improvement | |||||||||||||||||||||||||
3.0 | particularly in Japan and China | ||||||||||||||||||||||||
0.2 | 1.7 | ||||||||||||||||||||||||
2.0 | Sales increase mainly in | 2.1 | |||||||||||||||||||||||
Japan,North America and | |||||||||||||||||||||||||
Central & South America | |||||||||||||||||||||||||
1.0 | |||||||||||||||||||||||||
3.8 | |||||||||||||||||||||||||
0 | |||||||||||||||||||||||||
-1.0 | |||||||||||||||||||||||||
-2.0 | |||||||||||||||||||||||||
-3.0 | |||||||||||||||||||||||||
-4.0 | |||||||||||||||||||||||||
-5.0 | -4.3 | ||||||||||||||||||||||||
22/09 | Difference in | Rationalization | Others | 23/09 | |||||||||||||||||||||
units sold and | |||||||||||||||||||||||||
model mix | |||||||||||||||||||||||||
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Compared to
last term
Yamataka factor analysis of operating profit and loss (consolidated, by major region)
【Japan】 Recorded the black on sales increase and fix cost | 【North America】 Operating loss narrowed to zero on sales | ||||||||
reductions, etc. | increase | ||||||||
2.0 | Unit: billion yen | 2.0 | Unit: billion yen | ||||||
Unit sold increased by | |||||||||
0.2 | 0.9 | Units sold increased by | |||||||
77k | 1.1 | 39k | |||||||
1.0 | 1.0 | 1.4 | |||||||
0 | 1.8 | 0 | -0.2 | ||||||
-0.1 | -0 | ||||||||
-1.0 | Contribution from improvement | -1.0 | |||||||
-1.1 | |||||||||
in profit structure | |||||||||
-2.0 | -2.0 | ||||||||
-2.1 | |||||||||
-3.0 | -3.0 | ||||||||
22/09 | Difference in | Rationalization | Other | 23/09 | 22/09 | Difference in | Rationalization | Other | 23/09 |
units sold and | units sold and | ||||||||
model mix | model mix |
【Central and South America】 Sales increase and | 【China】 Rationalization made up for the impact of the sharp | ||||||||||||||||||||||||||||||||||||||||||||||||||
contribution from rationalization of the previous year | sales decline | ||||||||||||||||||||||||||||||||||||||||||||||||||
2.0 | Unit: billion yen | 2.0 | Unit: billion yen | ||||||||||||||||||||||||||||||||||||||||||||||||
Units sold decreased by | |||||||||||||||||||||||||||||||||||||||||||||||||||
0.2 | 109k | Foreign exchange translation and | |||||||||||||||||||||||||||||||||||||||||||||||||
the effect of restructuring of | |||||||||||||||||||||||||||||||||||||||||||||||||||
2.7 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||
1.0 | 1.0 | affiliate company | |||||||||||||||||||||||||||||||||||||||||||||||||
-0.5 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||
-0.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||
0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
0.8 | -0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
-1.0 | -1.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
-1.6 | -2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
-2.0 | -2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Production fluctuation | |||||||||||||||||||||||||||||||||||||||||||||||||||
Units sold rose by 97k driven by | |||||||||||||||||||||||||||||||||||||||||||||||||||
Management and Profti | |||||||||||||||||||||||||||||||||||||||||||||||||||
new model effect | |||||||||||||||||||||||||||||||||||||||||||||||||||
improvement efforts | |||||||||||||||||||||||||||||||||||||||||||||||||||
-3.0 | -3.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
22/09 | Difference in Rationalization | Other | 23/09 | 22/09 | Difference in Rationalization | Other | 23/09 | ||||||||||||||||||||||||||||||||||||||||||||
units sold and | uints sold and | ||||||||||||||||||||||||||||||||||||||||||||||||||
model mix | model mix | 7/33 |
Contents
FY2023 Q2 Results
FY2023 Financial Forecast
Progress of the Medium-Term
Management Plan (TVE*)
Shareholder Return
Activity Report
※Transformative Value Evolution
8/33
Full year forecast (consolidated)
Compared to last term
Unit: billion yen (Rounded down to 0.1 billion yen)
23/03 | 24/03 | Change | Change(%) | |||
Sales | 243.4 | 291.0 | 47.5 | 19.5 | ||
Operating profit | 1.3 | 6.0 | 4.6 | 338.5 | ||
Ordinary profit or loss | 1.9 | 6.5 | 4.5 | 229.2 | ||
Quarterly profit or loss attributable | 5.8 | 0.8 | -5.0 | - | ||
to owners of parent company | ||||||
- Overview of financial results for period to March 2024 >
- Sales are expected to increase from the previous year in consideration of continued sluggish sales of gasoline-powered vehicles in the China and sales recovery in Japan and Central and South America.
- Operating profit is expected to increase based on higher sales, the effect of improvement in profitability structure, and ongoing efforts to manage production cutbacks in China.
- Net income is expected to decrease from the previous year due to the recording of an extraordinary gain from the sale of real estate in the previous year and an extraordinary loss for additional business restructuring to be booked in the current year.
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Disclaimer
TACHI-S Co. Ltd. published this content on 24 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2023 00:24:18 UTC.