Sie sind auf Seite 1von 34

Presentation of Business Results for the 1st Quarter of FYE2013 Fuji Heavy Industries Ltd.

August 3, 2012
http://www.fhi.co.jp/english/ir/index.html

A Summary of Business Results

http://www.fhi.co.jp/english/ir/index.html

1st Quarter : Consolidated Automobile Sales


Thousand Units

1Q Actual Results FYE March 2012


Passenger car Minicar

1Q Actual Results FYE March 2013

Increase / Decrease

15.7 15.1

17.7 13.2

+2.1 -2.0

Domestic total
U.S. Canada Russia Europe Australia China Others

30.8
51.8 8.9 1.6 7.7 6.9 5.9 4.7

30.9
82.4 6.7 5.6 12.6 11.8 10.7 5.1

+0.1
+30.6 -2.2 +4.0 +4.9 +4.9 +4.8 +0.4

Overseas total

Total
http://www.fhi.co.jp/english/ir/index.html

87.6 118.3

135.0 165.9

+47.4 +47.5
2

* Canada figures of FYE2012 and China figures of FYE2013 are consolidated on the calendar year basis from Jan. to Mar.

1st Quarter : Consolidated Statements Income


100 Million Yen

1Q Actual Results FYE March 2012


Net sales Domestic Overseas Operating income Ordinary income Income before income taxes and minority interests Net income FHI exchange rate
http://www.fhi.co.jp/english/ir/index.html

1Q Actual Results FYE March 2013

Increase / Decrease

3,004
988 2,016

4,289
1,427 2,862

+1,285
+438 +847

107 117 323 285 82/US$

173 191 190 164 81/US$

+67 +74 -133 -121 -1/US$


3

1st Quarter : Analysis of Increase and Decrease in Operating Income Changes (Consolidated)
Improvement Increase of of sales SG&A volume & Reduction expenses mixture and in cost and others others
100 Million Yen
Increase of fixed cost, SG&A expenses and warranty claims US$ : -18 EURO : -12 CA$ : -4 Currency exchange adjustment : -3

40

-246 334
FHI : +37 SIA : +3

Loss on currency exchange

-37

Increase of R&D expenses

-24 173
Operating Income 1Q FYE March 2013
4

107
Operating Income 1Q FYE March 2012
http://www.fhi.co.jp/english/ir/index.html

Domestic : Increase of volume Overseas : Improvement of volume & mixture

+6.7 billion yen

1st Quarter : Consolidated Net Sales by Business Segment


100 Million Yen / Percentage of Total Sales

1Q Actual Results FYE March 2012

1Q Actual Results FYE March 2013

Increase / Decrease

Automobile Aerospace Industrial products Other

2,725
90.7%

3,963
92.4%

+1,239 +15 -3 +34 +1,285


5

169
5.6%

184
4.3%

86
2.9%

84
2.0%

24
0.8%

58
1.4%

Total
http://www.fhi.co.jp/english/ir/index.html

3,004

4,289

1st Quarter : Consolidated Operating Income by Business Segment


100 Million Yen

1Q Actual Results FYE March 2012

1Q Actual Results FYE March 2013

Increase / Decrease

Automobile Aerospace Industrial products Other Elimination and corporate

96 7 0 3 0 107

156 2 3 11 1 173

+60 -5 +3 +8 +1 +67

Total

http://www.fhi.co.jp/english/ir/index.html

1st Quarter : Consolidated Net Sales by Geographic Area <Appendix>


100 Million Yen / Percentage of Total Sales

1Q Actual Results FYE March 2012

1Q Actual Results FYE March 2013

Increase / Decrease

Japan North America other

1,507
50.2%

2,069
48.2%

+563 +484 +238 +1,285

1,360
45.3%

1,844
43.0%

138
4.6%

376
8.8%

Total

3,004

4,289

http://www.fhi.co.jp/english/ir/index.html

1st Quarter : Consolidated Operating Income by Geographic Area <Appendix>


100 Million Yen

1Q Actual Results FYE March 2012

1Q Actual Results FYE March 2013

Increase / Decrease

Japan North America Other Elimination and corporate

25 28 0 53 107

144 24 1 4 173

+119 -4 +0 -49 +67

Total

http://www.fhi.co.jp/english/ir/index.html

1st Quarter : Overseas Net Sales


1Q Actual Results FYE March 2012 1Q Actual Results FYE March 2013

<Appendix>

100 Million Yen / Percentage of Total Sales

Increase / Decrease

North America Europe Asia Other

1,457
72.3%

1,963
68.6%

+506 +151 +97 +92 +847


9

218
10.8%

369
12.9%

139
6.9%

236
8.2%

202
10.0%

294
10.3%

Total
http://www.fhi.co.jp/english/ir/index.html

2,016

2,862

1st Quarter : Operating Results of Subsidiaries in U.S.


million US$

SOA
Net sales Operating income Net income Retail sales
(Thousand units)

1Q Actual Results FYE March 2012

1Q Actual Results FYE March 2013

Increase / Decrease

1,313 36 24 64.5
1Q Actual Results FYE March 2012

2,014 34 23 83.6
1Q Actual Results FYE March 2013

+701 -2 -1 +19.1
Increase / Decrease

SIA
Net sales Operating income Net income Subaru production
(Thousand units)
http://www.fhi.co.jp/english/ir/index.html

747 -19 -11 33.3

1,027 21 13 45.2

+280 +40 +24 +11.9


10

1st Quarter : Consolidated Non-Operating Income and Expenses


100 Million Yen

1Q Actual Results 1Q Actual Results FYE March 2012 FYE March 2013 Non-Operating income
Interest & dividends income Equity in earnings of affiliates

Increase / Decrease

36
6 5

99
6 1

+63
+0 -4

Non-operating expenses
Interest expenses

26
9

81
9

+55
+0

Net
Financial revenue and expenditure FOREX effects Net of gain and loss on valuation of derivatives Net of FOREX gains and losses
http://www.fhi.co.jp/english/ir/index.html

10 -3 11
17 -6

18 -3 23
89 -66

+8 +0 +12
+72 -59
11

1st Quarter : Consolidated Extraordinary Income and Expenses


100 Million Yen

1Q Actual Results 1Q Actual Results FYE March 2012 FYE March 2013

Increase / Decrease

Extraordinary income
Gain on sales of noncurrent assets Gain on sales of investment securities Other

265
263 1 0

4
1 3 0

-261
-263 +2 -0

Extraordinary loss
Loss on sales and retirement of noncurrent assets Loss on disaster Other

59
2 57 0

5
4 1

-54
+2 -57 +1

Net
http://www.fhi.co.jp/english/ir/index.html

206

-1

-207
12

Consolidated Balance Sheets


100 Million Yen

As of March 31, 2012

As of June 30, 2012

Increase / Decrease

Total assets
Current assets Noncurrent assets

13,525
7,625 5,900

13,538
7,695 5,843

+12
+69 -57

Interest bearing debt Net assets


Retained earnings Shareholders equity Shareholders equity to total assets D/E ratio
http://www.fhi.co.jp/english/ir/index.html

3,410 4,516
1,885 4,503 33.3% 0.76

3,381 4,573 2,014 4,560 33.7% 0.74

-29 +57 +128 +57 +0.4 -0.02


13

1st Quarter : Consolidated Statement of Cash Flows


100 Million Yen

1Q Actual Results 1Q Actual Results FYE March 2012 FYE March 2013
Net cash provided by (used in) operating activities Net cash provided by (used in) investing activities Free cash flows Net cash provided by (used in) financing activities Effect of exchange rate change on cash and cash equivalents Net increase (decrease) in cash and cash equivalents
Increase (decrease) in cash and cash equivalents resulting from change of scope of consolidation

Increase / Decrease

-197 275 78 624


-8 693 0

393 -172 221 -243


-27 -49 213

+591 -448 +143 -867


-18 -742 +213

Cash and cash equivalents at end of period


http://www.fhi.co.jp/english/ir/index.html

2,971

2,745

-225
14

1st Quarter : Non-Consolidated Automobile Sales


<Appendix>
Thousand units

1Q Actual Results 1Q Actual Results FYE March 2012 FYE March 2013

Increase / Decrease

Domestic production Domestic sales


Passenger car Minicar

77.7 33.0
17.7 15.3

136.6 31.9
20.1 11.8

+58.8 -1.1
+2.4 -3.5

Number of vehicles exported Components for overseas production

46.9 33.1 113.0

95.1 42.7 169.7

+48.3 +9.6 +56.8


15

Total
http://www.fhi.co.jp/english/ir/index.html

* Domestic Production figures include Toyota 86.

Net Sales & Operating Income


Net Sales 100M 6,000
5,000 4,000 3,000 161 2,000 107 1,000 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 81 107 91

<Appendix>
Operating Income 100M 400 81/$
350 4,289 300 250 200 161 173 150 100 50 0 4Q 1Q

92/$

88/$
347 4,337

83$

83/$

82/$

79/$

79/$

78/$
4,877

4,059 3,706 3,004 3,546

3,703 226

3,744

FY2011
http://www.fhi.co.jp/english/ir/index.html

FY2012

FY2013
16

Complete Cars Production & Retail Sales


1,000 Cars Production
200 162 160 150 174 161 164 156 138 111 100 162 147 136

<Appendix>

Retail
196 158 196 191 182 165

150

50

0 Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Apr.-Jun.

2010
http://www.fhi.co.jp/english/ir/index.html

2011

2012
* Production figures include Toyota 86.

17

Free Cash Flows & Shareholders Equity to Total Assets


FCF 100M
900 33.6% 700 31.9% 500 640 35.4% 871 34.7%

<Appendix>
Shareholders Equity to Total Assets 38%

34.7%

34.2%

33.7%

33.3% 33.7%

35% 33% 30%

397 246 78 283 221 47 -42 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 28% 25% 23% 20%

300

100

-100

FY2011
http://www.fhi.co.jp/english/ir/index.html

FY2012

FY2013
18

Interest Bearing Debts & D/E Ratio


Interest Bearing Debt 100M 4,500
4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 3,473 3,367 3,179 3,306 0.91 0.82 0.76 0.8 0.89 0.85 3,965 3,866 3,688

<Appendix>
D/E Ratio
1.4

3,410

3,381

1.2 1.0

0.89

0.76 0.74

0.8 0.6 0.4 0.2 0.0 1Q

FY2011
http://www.fhi.co.jp/english/ir/index.html

FY2012

FY2013
19

Outlook for the term Ending March 2013

http://www.fhi.co.jp/english/ir/index.html

20

Full Year : Consolidated Statements Income


100 million yen / Thousand units

Actual Results FYE March 2012


Net sales Operating income Ordinary income Income before income taxes and minority interests Net income FHI exchange rate Consolidated automobile sales Domestic total Overseas total
http://www.fhi.co.jp/english/ir/index.html

Plan FYE March 2013

Increase / Decrease

15,171 440 373 529 385 79/US$ 639.9 172.3 467.5

18,600 670 630 600 480 80/US$ 720.8 145.4 575.4

+3,429 +230 +257 +71 +95 +1/US$ +81.0 -26.9 +107.9


21

* No change from the original plan (May 2013)

Full Year : Analysis of Increase and Decrease in Operating Income Changes Original Plan vs Revised Plan (Consolidated) <Appendix>
FHI : +52

Reduction in cost

Loss on currency exchange

52
EURO : -26 CA$ : -5 Currency exchange adjustment : -1

-32

Increase of SG&A expenses and others

100 Million Yen

-20
Increase of warranty claims

670

670

Operating Income FYE March 2013 Original Plan


http://www.fhi.co.jp/english/ir/index.html

0 billion yen

Operating Income FYE March 2013 Revised Plan


22

Full Year : Analysis of Increase and Decrease in Operating Income Changes (Consolidated) <Appendix>
Increase of 100 Million Yen SG&A Improvement Reduction expenses Increase of fixed cost and SG&A expenses of sales Decrease of warranty claims in cost and others volume & US$ : +78 mixture and 263 EURO : -41 Increase others -497 Loss on CA$ : -3exchange Currency of R&D currency adjustment : -35 expenses exchange 514
FHI : +242 SIA : +21

-49

-1

440
Operating Income FYE March 2012

670
Domestic : Deterioration of mixture Overseas : Increase of volume & deterioration of mixture

+23.0 billion yen

Operating Income FYE March 2013

http://www.fhi.co.jp/english/ir/index.html

23

Full Year : Operating Results of Subsidiaries in U.S.


million US$

SOA
Net sales Operating income Net income Retail sales
(Thousand units)

Actual Results FYE March 2012

Plan FYE March 2013

Increase / Decrease

6,923 105 74 279.2


Actual Results FYE March 2012

8,209 59 40 320.0
Plan FYE March 2013

+1,287 -46 -34 +40.8


Increase / Decrease

SIA
Net sales Operating income Net income Subaru production
(Thousand units)
http://www.fhi.co.jp/english/ir/index.html

3,845 82 51 170.6

3,989 41 24 172.7

+144 -41 -27 +2.1


24

Capex / Depreciation / R&D / Interest Bearing Debt


<Appendix>
100 Million Yen

Actual Results Actual Results Actual Results Plan 1Q 1Q FYE2012 (a) FYE2013 (b) FYE2012 FYE2013

Increase/ Decrease (b) - (a)

Capex Depreciation R&D


Interest bearing debt

140 116 106 3,965

543 537 481 3,410

113 119 130 3,381

720 600 530 3,300

+177 +63 +49 -110

http://www.fhi.co.jp/english/ir/index.html

25

Appendix

http://www.fhi.co.jp/english/ir/index.html

26

1st Half : Consolidated Statements Income


<Appendix>
100 million yen / Thousand units

1H Actual Results FYE March 2012


Net sales Operating income Ordinary income Income before income taxes and minority interests Net income FHI exchange rate Consolidated automobile sales Domestic total Overseas total
http://www.fhi.co.jp/english/ir/index.html

1H Plan FYE March 2013

Increase / Decrease

6,550 188 216 402 328 80/US$ 265.9 72.6 193.3

9,100 320 300 290 230 80/US$ 355.9 75.2 280.8

+2,550 +132 +84 -112 -98 -0/US$ +90.0 +2.6 +87.4


27

* No change from the original plan (May 2013)

1st Half : Analysis of Increase and Decrease in Operating Income Changes Original Plan vs Revised Plan (Consolidated) <Appendix>
FHI : +29

Reduction in cost

Increase of SG&A expenses and others

100 Million Yen

Loss on currency exchange

29
Increase of warranty claims

-20
EURO : -6 CA$ : -3

-9

320

320

20
Operating Income 1H FYE March 2013 Original Plan
http://www.fhi.co.jp/english/ir/index.html

9
Operating Income 1H FYE March 2013 Revised Plan
28

0 billion yen

1st Half : Analysis of Increase and Decrease in Operating Income Changes (Consolidated)<Appendix>
Improvement of sales Reduction in cost volume & mixture and 157 others
Increase of fixed cost and SG&A expenses

100 Million Yen

-423

483

FHI : +147 SIA : +10

Increase of R&D expenses

188
Operating Income 1H FYE March 2012
http://www.fhi.co.jp/english/ir/index.html

Increase of SG&A expenses and others

-47

Loss on currency exchange

US$ : -12 EURO : -24 CA$ : -9 Currency exchange adjustment : +7

-38 320
Operating Income 1H FYE March 2013
29

Domestic : Increase of volume, deterioration of mixture Overseas : Increase of volume, deterioration of mixture

+13.2 billion yen

2nd Half : Consolidated Statements Income


<Appendix>
100 million yen / Thousand units

2H Actual Results FYE March 2012


Net sales Operating income Ordinary income Income before income taxes and minority interests Net income FHI exchange rate Consolidated automobile sales Domestic total Overseas total
http://www.fhi.co.jp/english/ir/index.html

2H Plan FYE March 2013

Increase / Decrease

8,621 252 157 127 57 77/US$ 373.9 99.8 274.2

9,500 350 330 310 250 80/US$ 364.9 70.2 294.7

+879 +98 +173 +183 +193 +3/US$ -9.1 -29.5 +20.5


30

* No change from the original plan (May 2013)

2nd Half : Analysis of Increase and Decrease in Operating Income Changes Original Plan vs Revised Plan (Consolidated) <Appendix> Reduction in cost Loss on currency exchange
100 Million Yen

FHI : +23

23
EURO : -20 CA$ : -2 Currency exchange adjustment : -1

-23

350

350

Operating Income 2H FYE March 2013 Original Plan


http://www.fhi.co.jp/english/ir/index.html

0 billion yen

Operating Income 2H FYE March 2013 Revised Plan


31

2nd Half : Analysis of Increase and Decrease in Operating Income Changes (Consolidated)<Appendix>
FHI : +95 SIA : +11

Gain on currency Reduction exchange 37 in cost

100 Million Yen

31
Improvement of sales volume & mixture and others

74
Increase of SG&A expenses and others

Increase of R&D expenses

106
US$ : +90 EURO : -17 CA$ : +6 Currency exchange adjustment : -42

252

Increase of fixed cost and SG&A expenses Decrease of warranty claims Domestic : Deterioration of volume & mixture Overseas : Increase of volume, deterioration of mixture

350

Operating Income 2H FYE March 2012


http://www.fhi.co.jp/english/ir/index.html

+9.8 billion yen

Operating Income 2H FYE March 2013


32

Thank you !

http://www.fhi.co.jp/english/ir/index.html

33