F Y 2013 2nd Qu arter F in ancial Resu lts - Calsonic Kansei · © 2013 Calsonic Kansei Cor por at ion All Right s Reserved 1 ,4 2 1 1,2 44 5 14 78 8 2 0 4 2 57 68 3 7 3 8 0 1, 000

© 2013 Calsonic Kansei Corporation All Rights Reserved

FY2013 2nd Quarter Financial Results

1

November 8th, 2013 Calsonic Kansei Corporation

President & CEO Hiroshi Moriya


FY13 2Q Financial Outline <Apr.-Sep. accumulated total>

FY12 1H Actual (A)

(12/4-9)

FY13 1H Actual(B)

(13/4-9)

Variance(Ｂ) –(Ａ)

Sales (Value-added sales)

3,837(2,540)

4,290(2,722)

＋453(+182)

Operating profit* (Operating profit ratio)

53(2.1%)

114(4.2%)

＋61-

Ordinary profit*(Ordinary profit ratio)

49(1.9%)

125(4.6%)

＋76-

Net profit*(Net profit ratio)

20(0.8%)

77(2.8%)

＋57-

FX rate $ 79.4 98.9 ＋19.5

€ 100.5 130.0 ＋29.5

(Unit: 100M of JPY)

2

Reached record level for 1st half results

（Note) Retroactive adjustment is made on FY12 figures due to accounting system revision *Profit ratios are calculated based on value-added sales


2,605 2,422 2,540 2,722

1,171 1,183

1,297 1,568

0

2,000

4,000

FY10 2Q FY11 2Q FY12 2Q FY13 2Q

Pass through / Catalysts, etc.

Value-added sales

(100M of JPY)

Sales History <Apr. – Sep. accumulated total>

Variance analysis◇ Effects of

exchange fluctuation

＋584

◇ Effects of operation capacity, etc.

- 131

3,776 3,6053,837

4,290

3

(*) Internal management figures are used for pass-through parts


1,421 1,244

514788

204 257683 738

0

1,000

2,000

Pass through

In-house (based on VAS)

Sales History by Region <Apr. – Sep. accumulated>

(100M of JPY)

FY13 2Q

2,085

862

364

807

FY12 2Q FY13 2QFY12 2Q FY13 2QFY12 2Q FY13 2QFY12 2Q

1,902

1,370

450

871

-183

＋508

＋86

＋64

4

（Note) Retroactive adjustment is made on FY12 figures due to accounting system revision

Japan Europe AsiaNorth America


36

-9

2

24

48

33

-4

40

-10

0

10

20

30

40

50

Operating Profit History by Region <Apr.–Sep. accumulated total >

FY13 2QFY12 2Q FY13 2QFY12 2Q FY13 2QFY12 2Q FY13 2QFY12 2Q

＋12

＋42

-6

＋16

5

Well-balanced profit structure supported by Japan, the NA & Asia

(100M of JPY) （Note) Retroactive adjustment is made on FY12 figures due to accounting system revision

Japan Europe AsiaNorth America


0

50

100

Operating Profit Variance Analysis <FY12 2Q - FY13 2Q>

(100M of JPY)

FY12 2QOperating

Profit53

Others＋3

Effects of exchange fluctuation

＋36Fixed cost / R&D cost increase

- 21

Effects of operational efficiency

＋10

Rationaliza-tion, etc.

＋13

FY13 2QOperating

Profit114

6

FY12 one-time expense

＋20



FY12 1H Actual

FY13 1HActual

Detail（FY13 2Q Actual)

Operating Profit 53 114

Non-operating Profit/Loss -4 10 FX gain +17Derivative loss -5

Ordinary Profit 49 125

Extraordinary Profit/Loss -11 -4PBT 38 120

Taxes -18 -44 Corporate tax, etc. -44

Net Profit 20 77

7

Ordinary Profit, Net Profit <Apr. – Mar. accumulated total>



4654

93

121113

106

95 107

0

30

60

90

120

150

102

115 117

131

0

30

60

90

120

150

FY102Q

1.8% 3.9%2.2% 4.7%

FY112Q

FY122Q

FY132Q

FY102Q

FY112Q

FY122Q

FY132Q

3.7% 4.6%

8

4.4% 4.8%

CAPEX, Depreciation, R&D Cost Apr.-Mar. Accumulated Total

(100M of JPY) CAPEX R&D Cost(100M of JPY)

Depreciation

CAPEX on sales(VA sales)

R&D on sales(VA sales)


FY2013 Forecast

9


Anticipated Risks & Mitigation Plans

10

• Promote the activities to bring down the Japan Region’s break-even point

Japan Region production decrease

Japan Region production decrease

• Rolled-out the new-model launch process which minimizes the risks

• On-going new-model launches are proceeding smoothly & steadily

Production confusion along with new-model

launch in North America Region

Production confusion along with new-model

launch in North America Region

• Promote efficient investment in the Regions by positioning them as growing markets from mid-term viewpoint

Market deterioration in emerging Regions

Market deterioration in emerging Regions

Transform Risks into Opportunities by developing mitigation plans


FY2013 Financial Forecasts FY12 Actual

(12/04 -13/03)

FY13 Initial forecast

（A）（13/04-14/03）

FY13 Revised forecast

（B）(13/04-14/03）

Variance(Ｂ)-(Ａ)

Sales (Value-added sales)

7,609（4,781）

8,300（5,400）

8,700（5,550）

＋400（＋150）

Operating profit* (Operating profit ratio)

98（2.0％）

200（3.7％）

240（4.3％）

＋40－

Ordinary profit*(Ordinary profit ratio)

128（2.7％）

190（3.5％）

250（4.5％）

＋60－

Net profit*(Net profit ratio)

55（1.2％）

100（1.9％）

170（3.1％）

＋70－

CAPEX 249 261 256 -5R&D 238 262 270 ＋8

Depreciation 193 224 224 ±0

（100M of JPY）

11Operating profit is revised upward from 20 billion yen to 24 billion yen

（Note) Retroactive adjustment is made on FY12 figures due to accounting system revision *Profit ratios are calculated based on value-added sales


0

100

200

300

Operating Profit Variance Analysis<FY13 Initial vs. Revised>

(100M of JPY)

Effects of exchange fluctuation

＋18

FY13Initial

forecast200

FY13Revised forecast

240

12

Effects of operational efficiency

＋10

Rationaliza-tion, etc.

＋3

Fixed cost/ R&D cost decrease

＋6Others

＋3


New Technologies - GX4 T10 Goals & Post GX4 T10 technologies -

FY11-12FY13-14

FY15-16

GX4 T10Goals

GX4 T10Goals

FY17～

EGR coolerInjection skin IP

B/M for bat. cooling

13

(Soft-feel Hard IP)*

EGRｸｰﾗｰ Injection Skin IP Brushless motor for battery cooling *Soft-feel Hard IP has also been in production from FY12

In productionOrder receivedUnder sourcing

New products

New products

Introduce 10 Eco-friendly products which leads the global competition by FY16


6,194

7,482 7,823 7,6098,700

10,000

FY09 FY10 FY11 FY12 FY13-1.3

3.74.3

2.1

4.3

7.0

FY09 FY10 FY11 FY12 FY13

(100M of JPY) （％）

14

Global Top 10 Automotive Suppliers in Sales(over 1 Trillion yen)

Global Top 10 Automotive Suppliersin Operating Profit (7%+ OP Rate*1)

*1: OP on Value-added sales


Plans, strategies, opinions and other statements regarding Calsonic Kansei Corporation stated in this document, other than historical facts, are forward-looking statements, which include risks and uncertainty. Please note the actual results may differ from the statements in accordance with the future economic condition, market trends, exchange fluctuation, and other important aspects.

・The statements in this documents are developed based on the purpose to provide information, and not to solicit investment.

・This document is the copyright of Calsonic Kansei Corporation. Reproduction or use of any copy without permission is prohibited.

15

Documents

F Y 2013 2nd Qu arter F in ancial Resu lts - Calsonic Kansei · © 2013 Calsonic Kansei Cor por at ion All Right s Reserved 1 ,4 2 1 1,2 44 5 14 78 8 2 0 4 2 57 68 3 7 3 8 0 1, 000