* Note on forecasts:
This document (including business plans) is based on information available at the time of its preparation. Nevertheless, actual results may differ substantially from projections due to various risks and uncertainties.
Income Statement (vs. Previous Year)
3Q FY2015 | 3Q FY2016 | Increase/ decrease | |||
Amount | Percentage | Amount | Percentage | ||
Net sales | 149,748 | 100.0% | 128,020 | 100.0% | -21,728 |
Cost of sales | 104,242 | 69.6% | 90,751 | 70.9% | -13,490 |
Gross profit on installment sales | -88 | -0.1% | 151 | 0.1% | 239 |
Gross profit | 45,417 | 30.3% | 37,420 | 29.2% | -7,997 |
Selling, general and administrative expenses | 22,899 | 15.3% | 23,244 | 18.2% | 344 |
Operating income | 22,517 | 15.0% | 14,175 | 11.1% | -8,341 |
Non-operating income and loss | -129 | -0.1% | 46 | 0.0% | 175 |
Ordinary income | 22,388 | 15.0% | 14,221 | 11.1% | -8,166 |
Extraordinary income and loss | -36 | -0.0% | -11 | -0.0% | 24 |
Income before income taxes | 22,351 | 14.9% | 14,209 | 11.1% | -8,141 |
Corporate taxes | 7,102 | 4.7% | 4,137 | 3.2% | -2,965 |
Net income attributable to noncontrolling interests | 47 | 0.0% | 60 | 0.0% | 13 |
Net income attributable to Tadano Ltd. | 15,202 | 10.2% | 10,012 | 7.8% | -5,190 |
(Unit: millions of yen)
[ Key changes of this quarter (April-December) ] Sales and profits for the 3Q decreased for the first time in six years
Y Net sales:
Consolidated net sales decreased by 14.5% compared with the previous 3Q.
Outside Japan sales ratio was 46.8%.
Y COGS ratio:
Despite the efforts to maintain appropriate sales prices and cost reductions, decreased sales and foreign exchange effects drove up the COGS ratio to 70.9%, by 1.3% points from the previous 3Q.
Y Selling, general and administrative expenses:
SGA increased by ¥0.3 billion compared with the previous 3Q.
Y Profits:
Operating income decreased by ¥8.3 billion compared with the previous 3Q.
Ordinary income decreased by ¥8.1 billion compared with the previous 3Q.
Net income attributable to Tadano Ltd. decreased by ¥5.1 billion compared with the previous 3Q.
Y Factors of operating income change:
"'7 - ¥8.0 billion due to an influence of sales volume (Japan: - ¥1.2, Outside Japan: - ¥6.8)
"'7 + ¥0.3 billion due to sales price effects
"'7 - ¥1.0 billion due to foreign exchange effects
"'7 - ¥0.3 billion due to cost effects
"'7 + ¥0.7 billion by other influences
1Balance Sheet (vs. End of Previous Fiscal Year)
FY2015 year-end | 3Q FY2016 | Increase/ decrease | |||
Amount | Percentage | Amount | Percentage | ||
Cash deposit | 73,618 | 31.3% | 68,492 | 29.6% | -5,126 |
Accounts receivable | 51,143 | 21.7% | 39,830 | 17.2% | -11,313 |
Inventories | 53,021 | 22.5% | 64,288 | 27.8% | 11,266 |
Other current assets | 7,699 | 3.3% | 7,001 | 3.0% | -698 |
Total current assets | 185,483 | 78.8% | 179,612 | 77.6% | -5,871 |
Tangible fixed assets | 38,982 | 16.6% | 39,984 | 17.3% | 1,002 |
Intangible fixed assets | 1,187 | 0.5% | 971 | 0.4% | -216 |
Investment and other assets | 9,747 | 4.1% | 11,001 | 4.7% | 1,254 |
Total fixed assets | 49,917 | 21.2% | 51,957 | 22.4% | 2,039 |
Total assets | 235,400 | 100.0% | 231,569 | 100.0% | -3,831 |
(Unit: millions of yen)
[Key changes]Y Accounts receivable decreased:
¥ 51.1billion "'7 ¥ 39.8 billion
"'7 The receivable turnover period improved. (3Q FY2015: 81.0 days, FY2015: 89.1 days "'7 3Q FY2016: 85.6 days)
Y Inventories increased:
¥ 53.0 billion "'7 ¥ 64.2 billion (The ¥64.2 billion includes ¥17.1 billion in TADANO FAUN GmbH)
"'7 The inventory turnover period deteriorated. (3Q FY2015: 110.0 days, FY2015: 92.4 days "'7 3Q FY2016: 138.1 days)
Y Interest-bearing debt increased:
¥ 36.8 billion "'7 ¥ 37.5 billion "'7 Short-term: increased by ¥0.7 billion; Long-term: decreased by ¥0.0 billion
November 2016
Acquisition of industrial site ¥2.4 billion (Kozai, Takamatsu, Kagawa Prefecture)
Accounts payable | 35,845 | 15.2% | 36,111 | 15.6% | 266 |
Interest-bearing debt | 36,869 | 15.7% | 37,599 | 16.2% | 730 |
Other liabilities | 27,889 | 11.8% | 20,317 | 8.8% | -7,572 |
Total liabilities | 100,603 | 42.7% | 94,028 | 40.6% | -6,575 |
Total equity | 134,796 | 57.3% | 137,540 | 59.4% | 2,744 |
Total liabilities and equity | 235,400 | 100.0% | 231,569 | 100.0% | -3,831 |
Net Sales by Product
(Millions of yen)
150,000
120,000
90,000
149,748
20,731
13,126
14,672
Others
Aerial Work Platforms Truck Loader Cranes Mobile Cranes
128,020
19,891
15,309
14,056
3Q FY2015 | 3Q FY2016 | Increase/ decrease | ||||
Amount | Percentage | Amount | Percentage | Amount | Percentage | |
Mobile Cranes | 101,217 | 67.6% | 78,762 | 61.5% | -22,455 | -22.2% |
Truck Loader Cranes | 14,672 | 9.8% | 14,056 | 11.0% | -616 | -4.2% |
Aerial Work Platforms | 13,126 | 8.8% | 15,309 | 12.0% | 2,183 | 16.6% |
Others | 20,731 | 13.8% | 19,891 | 15.5% | -840 | -4.1% |
Total | 149,748 | 100% | 128,020 | 100% | -21,728 | -14.5% |
(Unit: millions of yen)
60,000
101,217
Japan | 33,807 | 28,163 | -5,643 | -16.7% |
Outside Japan | 67,410 | 50,599 | -16,811 | -24.9% |
Breakdown of Mobile Crane sales in and outside Japan
30,000
78,762
USD | 120.89 | 108.69 |
EUR | 134.77 | 121.17 |
Exchange rate (January-September average rate)
0
3Q FY2015 3Q FY2016
Since the fiscal year for subsidiaries outside of Japan ends in December, the rates given here are January-September average.
3Net Sales by Destination
(Millions of yen)
90,000
Europe
North America
Caribbean, Central and South America Asia
Middle East Others
3Q FY2015 3Q FY2016
(Unit: millions of yen)
Increase/ decrease
77,748
Amount Percentage Amount Percentage Amount Percentage
60,000
17,578
59,926
16,099
Europe 17,578 11.7% 16,099 12.5% -1,479 -8.4%
North America 29,041 19.4% 19,528 15.3% -9,513 -32.8%
Caribbean, Central
and South America 588 0.4% 1,096 0.9% 508 86.3%
Asia | 13,242 | 8.8% | 11,183 | 8.7% | -2,059 | -15.5% |
Middle East | 11,965 | 8.0% | 7,523 | 5.9% | -4,442 | -37.1% |
Others | 5,330 | 3.6% | 4,494 | 3.5% | -836 | -15.7% |
ubtotal (total sales outside Japan) Japan | 77,748 71,999 | 51.9% 48.1% | 59,926 68,093 | 46.8% 53.2% | -17,821 -3,906 | -22.9% -5.4% |
Total | 149,748 | 100% | 128,020 | 100% | -21,728 | -14.5% |
29,041
30,000
588
19,528
13,242
1,096 S
11,183
11,965
7,523
5,330 4,494
0
3Q FY2015 3Q FY2016
The graph on the left excludes Japan. Others comprise Oceania, Africa and the CIS.
4FY2016 Year-end Forecast (Net Sales by Product)
(Millions of yen)
250,000
200,000
150,000
209,426
28,084
19,432
20,375
Others
Aerial Work Platforms Truck Loader Cranes Mobile Cranes
180,000
26,500
22,400
(Unit: millions of yen)
FY2015 year-end | FY2016 year-end forecast | Increase/ decrease | ||||
Amount | Percentage | Amount | Percentage | Amount | Percentage | |
Mobile Cranes | 141,534 | 67.6% | 111,800 | 62.1% | -29,734 | -21.0% |
Truck Loader Cranes | 20,375 | 9.7% | 19,300 | 10.7% | -1,075 | -5.3% |
Aerial Work Platforms | 19,432 | 9.3% | 22,400 | 12.5% | 2,967 | 15.3% |
Others | 28,084 | 13.4% | 26,500 | 14.7% | -1,584 | -5.6% |
Total | 209,426 | 100% | 180,000 | 100% | -29,426 | -14.1% |
19,300
100,000
50,000
141,534
111,800
Japan | 51,104 | 46,500 | -4,604 | -9.0% |
Outside Japan | 90,429 | 65,300 | -25,129 | -27.8% |
+Outside Japan sales ratio 49.9% - 43.3% Breakdown of Mobile Crane sales in and outside Japan
0
FY2015 year-end FY2016 year-end forecast
No changes from the forecast released on October 31, 2016. However, the composition of sales by product has been revised to reflect the latest sales conditions.
5FY2016 Year-end Forecast (Net Sales by Destination)
(Millions of yen)
120,000
Europe
North America
Caribbean, Central and South America Asia
Middle East Others
104,444
(Unit: millions of yen)
80,000
22,844
FY2015 year-end | FY2016 year-end forecast | Increase/ decrease | ||||
Amount | Percentage | Amount | Percentage | Amount | Percentage | |
Europe | 22,844 | 10.9% | 20,600 | 11.4% | -2,244 | -9.8% |
North America | 39,127 | 18.7% | 25,400 | 14.1% | -13,727 | -35.1% |
Caribbean, Central and South America | 826 | 0.4% | 1,700 | 0.9% | 873 | 105.8% |
Asia | 17,083 | 8.2% | 14,000 | 7.8% | -3,083 | -18.0% |
Middle East | 17,680 | 8.4% | 10,000 | 5.6% | -7,680 | -43.4% |
Others | 6,881 | 3.3% | 6,300 | 3.5% | -581 | -8.4% |
Subtotal (total sales outside Japan) | 104,444 | 49.9% | 78,000 | 43.3% | -26,444 | -25.3% |
Japan | 104,981 | 50.1% | 102,000 | 56.7% | -2,981 | -2.8% |
Total | 209,426 | 100% | 180,000 | 100% | -29,426 | -14.1% |
78,000
39,127
20,600
40,000
826 17,083
17,680
25,400
1,700
14,000
10,000
No changes from the forecast released on October 31, 2016.
6,881 6,300
0
FY2015 year-end FY2016 year-end
forecast
However, the composition of sales by destination has been revised to reflect the latest sales conditions.
The graph on the left excludes Japan.
Others comprise Oceania, Africa, and the CIS.
6Tadano Ltd. published this content on 06 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 February 2017 06:07:05 UTC.
Original documenthttp://www.tadano.com/news/FY2016_3Q.pdf
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