Business Briefing FY2021 (Year ending March 2021) - Date: May 21, 2021 - Toyota ...
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TSE 1st Section Securities Code 3116 FY2021 (Year ending March 2021) Business Briefing Date: May 21, 2021 Yaris Cross SIENNA 1/ 24
1. Measures against COVID-19 1 Improve workstyle Actions to “vibrant workstyle innovation” ■Promoting telework through effective use of IT and office reform Effective Improved employee satisfaction use of IT Efficient workstyle, anytime, anywhere Improved productivity Mobile PC iPhone Global Headquarters Main Building “Respect time” “Respect motivation and Wifi satisfaction” Office reform 1 Review work Officers Enhance take the 2 Improve workstyle HR initiative systems Effective Office use of IT reform COVID-19 Preventing infection pandemic High-quality instructions and dialogues Around between supervisors and subordinates 30% ◆ (Communication) Telework implementation rate (Administrative & engineering Around workplaces) 15% Splash prevention with partitions FY2019 FY2020 FY2021 FY2022 (To avoid the “Three Cs”) 2/ 24
1. Measures against COVID-19 2 Review of the way to work ■Remote function verification before and after the introduction of equipment by promoting DX Before After Representatives gather from different sites Verification of equipment functions * Equipment specifications, from remote sites* operation/handling check, process to verify equipment functions capability, how to set conditions, etc. MONOZUKURI Innovation Center Equipment manufacturer No travel Live relay Remote handling Each production site Each Equipment production site manufacturer Time lag, loss from traveling, risk of infection Reduction of loss from traveling and risk of infection 3/ 24
2. Review of 2020 Mid-term Business Plan The management structure we aims to achieve We meet the expectations of our stakeholders through contributing to social values and properly distributing economic value as a good corporate citizen. Enhance economic value Invest in growth Distribute what we achieve Enhance corporate value Sustainable growth Expand business fields Shareholders, Economic value Customers investors Offer multi- 4 dimensional International/ value local communities Business 3 Strengthen competitive Strengthen competitive Company advantage members partners advantage Strengthen Strengthen management management foundation 2 foundation 1 Social value Corporate growth in Contribute towards social value Enhance social value harmony with society CSR CSV 4/ 24
2. Review of 2020 Mid-term Business Plan 1 Corporate growth while fulfilling our responsibility in harmony with society Major actions to improve CSR (1)E < Environment > (2)S < Social > ①2020 Environmental action plan Among 8 items of the target KPIs, 2 items have shown Formulated the environmental action plan as a improvement, and the remaining 6 items have stayed same level. ~「Quit・Reduce・Change」 Activity~ five-year implementation plan and achieved all <An example of the action plan> targets for 2020. 1)Actions to improve vibrant KPIs Manager declaration of Quit, reduce, change <An example of the action plan> ① Greeting Activity ② Promoting the “Quit, reduce, and inventory of work (determining whether Challenges of planting 1.32 million trees as 6 part of reforestation activities(132nd change “activity ③ Promoting telework it is necessary or not), review of meetings anniversary for establishment of business) ④ Improving business quality by (Result) By FY2020 Reduce promoting TQM activities working hours by 5 hours per person per month. Goal:Number of trees planted (3)G < Corporate governance > (cumulative total)500,000 trees ⇒ Result : 530,000 trees Achieved all the 4 KPI targets(zero violation cases, etc) <An example of the action plan> 1)Actions to take countermeasures against confidential ②Result of the third-party assessment information leakage (1)Establishment of the Basic Policy on Information Security Selected as the “highest rating” in the Supplier (2)Implementation of targeted email training and e-learning. Engagement Rating conducted by CDP※1 2)Actions to improve supplier satisfaction (1)Quality committee (2)CSR committee (3)Safety committee ※1 CDP is an NGK established in the U.K. in 2000. It operates a global (4)Video distribution and remote holding of suppliers’ general meetings information disclosure system. and regular meetings (bimonthly) 5/ 24
2. Review of 2020 Mid-term Business Plan 2 Strengthen management foundation Develop global human resources capable of contributing to enhancing corporate value (1)Develop the structure on personal training and effective (2)Optimization and standardization of use of competency Organization organizational development that nurtures Company-wide education personnel Duty allotment table Development plan system Skill map Cultivating the OJT Culture Supervisors, mentors, individuals Making maximum use of individual Management span guidelines and abilities organizational templates of an overall global Selection and education of candidates for global/key positions organization. Marginal profit Global personnel guidelines to (3) Proper personnel plan achieve BEP of 70% Fixed cost [Base] GHR Platform (global common HR system) 6/ 24
2. Review of 2020 Mid-term Business Plan 3 Strengthen competitive advantage (1)1-motor power seat (3)Demonstration experiment for autonomous (2)Improving development efficiency driving Newly developed gear box , Promoting self-efficient Participated in Aichi Prefecture’s project operation of R&D for the social implementation of autonomous overseas. driving with “MOOX” @Aichi Expo Memorial Park TBJ ①Tailored interior space that satisfies needs for diverse services ②Providing contents linked to vehicle location Reduced motors, W/H and other information, and five-sense control system parts that were set for each function ③Occupant status monitoring and sterilizing system to * Established in Sep. 2020 3% provide safe services 25% 72% Control Collaboration Toyota, strategic OEMs Reduced motors to one by using a Advanced/preceding development clutch box to distribute power Local OEMs Realized a seat functionally In addition to development mainly Confirmed market acceptability of providing equivalent to Power 6 way with In Japan, strengthened collaboration new values while moving. “ 1-motor” through the R&D Steering Committee 7/ 24
2. Review of 2020 Mid-term Business Plan 4 Offer multi-dimensional value / Expand business fields (1)Motor core for HV (2)Separator for FC stack (3)LI-batteries Building a highly extensible Utilizing our unique precision press and Utilizing our spinning and precision press production system mold technologies technologies HV・ FC・EV Fuel cell (FC) separator PHEV Existing engines Motor core FC stack • High output • Long life • Low-heat- generating FC cell Separator Production line completed and mass Secured a productive capacity 10 times Our productive capacity on the pilot line production started what we have so far improved 8/ 24
2. Review of 2020 Mid-term Business Plan 1) Financial results 2 3 4 2) Non-financial results 1 :Improved from ( ):FY2020 Result (100 million yen) previous FY FY2020 FY2021 E (Environmental) S (Social) G (Corporate governance Actual Actual CO2 emissions 283.8t Rate of female managers 2.0% Compliance with (total volume) Down 5% ( 1.9%) 13,726 12,721 from FY2020) timely and 100% Revenue appropriate 2% Employment rate of (100%) Renewable energy persons with 2.39% disclosure (Compared to Operating introduction rate (2.21%) 477 571 FY2020: -) (Timely disclosure rate) disabilities profit Rate of foreigners in 0.12% G2 or higher positions (0.11%) Operating Number of 3.5% 4.5% Logistics CO2 10,389 t 0 emissions confidential profit margin (Down 3.5% from FY2020) Vibrant workstyle KPI information leaks (0) (total volume) (work motivation) 71.5% ROE 8.5% 10% positive rate (67.2%) Major KPIs Equity ratio 37.3% 39.6% Number of fatal accidents 0 (0) Waste 2.58 t/1,000 0 Number of serious Net asset 3,217 3,696 generation (per unit) units (Down 3% from Rate of 90.7% legal violations (0) FY2020) participation in (85.2%) Dividend QC circle 40.6% 27.0% Number of payout ratio environmental 1 abnormalities and (1) Capital Injustice 587 467 complains reports: 0 Investment Water usage 0.22/k㎥ units (Down 18% from Taxes paid in Supplier (same as (per unit) FY2020 satisfaction above) R&D costs 459 418 Sustainable tax payments to local or all relevant countries national authorities (same as Despite the production cutback due to the Covid-19, above) Increase in profit compared to the previous year due to CO2 emissions and other environmental and corporate value strengthening of the business structure KPIs improved year on year. 9/ 24
3. Concept of Actions for FY2022 Actions for FY2022 based on the 2025 Mid-term Business Plan Issues from the 2020 Mid-term Business Implementation Plan 2025 priority actions Actions for FY2022 No.4 Corporate growth in 1 harmony with society Establish a resilient management foundation and systems on a global scale to support sustainable growth Strengthen 2 management No.1 foundation Pursue safety, environment and comfort, and increase customers, thereby evolving into a Materiality As an interior system supplier, trusted supplier capable of offering optimal Strengthen proposals to customers 3 competitive advantage we serve as “home” and secure competitiveness that No.2 can rival global suppliers. Thoroughly, Improve productivity and implement Offer multi- business strategies while enhancing dimensional cooperation among Product business management value segments and Regions 4 No.3 Expand business Improve competitiveness through fields MONOZUKURI innovation and promote environmental initiatives No.5 [Issue in FY2021 Global Hoshin] Strengthen and develop Improvement of Process Quality through TQM Improve work quality through efforts to win the Deming Prize practice of each & every employee 10/ 24
3. Concept of Actions for FY2022 Organizational structure for implementation of actions for FY2022 1 2 3 4 5 :Corresponding action No. in FY2022 Chief Financial CFO Officer 4 1.Revision of the executive officer system Chief Branding CBO Officer 2 (1) Introduce Chief Officers system with a view to promoting cross-functional collaborations and expediting management CRO Chief Risk Officer 1 2 decision-making and execution CEO CSO Chief Technology 1 Chief Chief CTO Officer (2)To promote organizational improvement, proactively appoint Executive Strategy young employees in KANBUSHOKU positions(G0,G1) Chief Manufacturing Officer Officer CMO Officer 2 3 who are competent in specialized fields as Field Chief or Center Chief Chief Information CISO System Officer 3 4 2.Major organizational changes CQO Chief Quality Officer 5 In response to management issues CTO 1 (1) Accelerate efforts to become an Interior Space Creator…Interior Space Visioneering Center(reorganized) (2) Utilize digital transformation(DX) …DX&IT Promotion Field(newly established) CISO 3 (3) Integrated management of logistics from suppliers to plants…Logistics Field(newly established) CMO 3 (4) Promote carbon neutral …Carbon Neutral Environment Division(reorganized) (5) Streamline overlapping functions …Japan Region Plant Management Segment(reorganized) CMO/CTO 3 CMO 3 11/ 24
4. Actions for FY2022 Action No. 1 Pursue innovation for next-generation seat devices Materiality No. 3 (1)Long slide rail Expected effect) Increase in revenue: 10 billion yen / FY2026 The front-rear movable load mechanism has significantly improved operability 世界初 First in the Sales expansion to 他OEMへの拡販 world While adjusting the front slide, Sensor control other OEMs forward sliding by the seat’s own 次期高級ミニバン Next high-grade minivans weight can be inhibited. Multi-functions 次期ファミリーミニバン Next family minivans When long slide is operated, シエナ The Sienna seat can slide with little force. Electrification 2 2020 2025 (2)1-motor power seat Expected effect) Increase in revenue: 2 billion yen / FY2026 Realize the equivalent performance and lower price by reducing the number of power parts aiming to expand sales to broad range of vehicle models. Sales expansion to MNL clutch MNL clutch operating part 他OEMへの拡販 First in the Clutch OFF Clutch ON other OEMs world Optimal production エントリーカー Entry cars Clutch pin Clutch [Newly developed gearbox] Reclining Strengthen ヤリスクロス The Yaris Cross competitiveness Lifter Non-joined Joint Joined 2020 2025 Advance design for each vehicle model to expand the range of applicable models and increase revenue 12/ 24
4. Actions for FY2022 Action No. 1 Expand the interior SS field on a global scale 3)Increase in the number of applicable items 〈 Introducing activity examples 〉 (1)Expand regions (2)Expand development fields ❶Instrument panels: Acquiring skills and techniques in design, = Efforts for advanced development production and quality assurance in preparation for the future increase in applicable items ❷) Door modules: Putting wire harness, regulator and other necessary parts in modules to facilitate assembly of door trims and increase added value. (3) 2 Regulator Now Increase items Pressure sensor Wire harness ●Adoption decided [Fig. 1 Efforts to expand fields] ○Efforts for adoption being made 1 (1)Region (3)Item ECU Direct delivery Development Vehicle model SOP NV to customer (2) North Instrument Door China Asia Europe field America OHC panel module assembly lines B 2023 - ● - - ● ● Speaker C 2023 - - - - ● ● ○ EA(resin) Main body (resin) D 2023 - - - - ● ● ● E 2024 - ● - ● ● ● By advancing efforts to expand business fields, we will expand our Expected effect) Increase in revenue: 30 billion yen / FY2026 capacity as an interior system supplier and serve as “home” in the interior area. 13/ 24
4. Actions for FY2022 Action No. 1 As an interior space creator, establish a business model leading to further growth of Toyota Boshoku Enhance advanced development (strengthen collaboration within Group) Status of item development for MX191 exhibited at 2019 Tokyo Motor Show 2020 21 25 Realizing optimization for Launch elemental technologies (1) each customer and into market in phases Personal air improved efficiency with conditioning the air conditioner and air circulator installed in seats Efficient air conditioning for interior space Incorporating safety Strengthening and (2) systemization of Autonomous driving vehicles Safety seat for belt in seats to devices autonomous ensure safety and comfort during Advanced mass production of driving vehicles elemental technologies Development of seat frame completed autonomous driving Gauges the level of Commercial vehicle (3) drowsiness from human Built-in seat Seat cover type Drowsiness facial expressions and speaker PoV Suppression controlling the drowsiness Incorporated in seat Seat System with music and vibration Vibrator without annoying the driver Conduct demonstration tests on road to verify the effects While launching elemental technologies in advance, advance system development and demonstration tests, thereby respond to the autonomous driving market 14/ 24
4. Actions for FY2022 Action No. 2 Solidify foundation for global production and supply structures (2) Actions for completely local procurement (1) Promote completely local procurement in Asia and China to raise marginal profit ■Effort to adopt lower-grade materials Activity to develop new For BCP Case of difficulty in supply of PA66 material suppliers Case of promoting local procurement of lifer brakes [After the activity] [Present] 1) Difficulty in securing material 2) Price spike Item: Cylinder head cover Supply from Japan to Item: Lifter brakes Introducing/developing [Asia region] [Effects of cost reduction] other countries local suppliers in China [Securing necessary quantities] 地域最適化 Regional optimization Amount of use (index) 買い方改善 Purchase improvement Necessary quantity Consider new 真の現調化 Completely local procurement Export from Japan Chinese suppliers STEP 1: Mutually complement (指数表示) 造り方 Way of making 309 Company C (Index) Cost index materials between regions (to 100 secure quantities) Company B 74 64 100 Transportation cost (Measure) Supply restriction Current manufacturer Company A Supplier B (added) Japan China China FY22 FY23 FY24 FY25 FY26 Current Supplier A Supplier C (added) Jan Feb Mar Apr Jun Jul Aug Sep (Future) Consider global deployment [China region] [Effects of cost reduction] 現調化 Local procurement 697 地域最適化 Regional optimization STEP 2: Change to more Amount of effect (index) 買い方改善 Purchase improvement versatile, lower-priced VE (指数表示) material (Index) Supply from China to other countries have cost effects globally. 100 100 97 100 100 61 (Measure) 80 85 100 PA66 → PA6 Japan procurement China procurement Japan China procurement procurement Japan China procurement procurement Japan procurement China procurement FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 Japan North ASEAN Europe FY26 America * “Completely local procurement” means to achieve local procurement of raw materials and difficult-to-produce parts. 15/ 24
4.Actions for FY2022 Action №3 Realize optimal production and supply systems globally (1)Japan Region (2)The Americas [The Americas] [Actions for priority 3 regions] Process restructuring started in Indiana, Illinois, and Kentucky Door trims (implementation started) Seat frames (implementation plan being examined) ミドルボード Middle board アッパーボード Upper board ドアAssy Door Assy プレス・溶接S/A Press, welding 溶接Assy Welding Assy シートAssy Seat Assy [Toyota region] 1 (表皮を基材に巻込み) (Rolling surface skin on (真空成型) (vacuum forming) S/A Accelerate restructuring focusing base metal) 工 on concentration of production Process工 程 程 2 processes and integration of logistics 現 ケンタッキー Kentucky イリノイ工場 Illinois region 現 Tennessee イリノイ工場 Illinois region 3 Present状 状 テネシー工場 インディアナ工場 工場 インディアナ工場 region Indiana region region Indiana region [Streamlining of sites] Reduce 4 Reduce 再 再 イリノイ工場 イリノイ工場 sites 2 sites Reduce 編 Kentucky ケンタッキー工場 Illinois region 編 テネシー工場 Illinois region 3 sites FY2022 後 後 Tennessee region インディアナ工場 Fuji Susono region Indiana region Bisai, Tsutsumi-kita Sewtech Kanto After Illinois region Illinois region restructuring Kentucky region (Door Assy only) Tennessee region 2019 2020 2021 2022 FY2024 Indiana region ・ Expand production restructuring Integrate into Kentucky region Integrate into Tennessee region including suppliers ・Accelerate CO2 emissions reduction through ・For door trims, we will integrate ・We will also integrate the seat frame the injection molding and production in the Illinois region to streamlining of logistics assembly processes in the Indiana the Tennessee region. region to Kentucky region. 16/24
グランドデザイン(案) 4. Actions for FY2022 Action No. 4 Build management information infrastructure Based on profit/loss unit, formulate a mid-term plan and establish infrastructure for progress verification FY21 Start operation FY22 Expand functions Progress Centralized control of management information verification Mid-term Plan Centralized (100 million yen) information Verification 16,000 Sales expansion rank control B 14,000 Sales expansion rank A Database Measures Existing businesses [Annual plan /results] ・・・ Per unit Collaboration FY21 FY22 FY23 FY24 FY25 FY26 Number of Profit and Profit and loss units sold loss by site by product Work process Results Profit/loss unit × Number of units × Preconditions standardization Gradually (Selling price, (Variable Cross-operational cost price) factors) core system introduced to sites Realize a sales simulation 17/ 24
5. FY2022 Targets Financial Target ※Non-financial targets are currently under review (100 million yen) FY22 full-year forecast FY26 management target Revenue 14,000 14,000 Operating profit 720 1,000 + α Operating profit 5.1% 6~7% margin ROE 13.3% 10% or higher Equity ratio 41.3% Around 40% Net asset 4,060 4,000 Dividend payout ratio 25.4% Around 30% Capital Investment 500 (FY21 to 25cumulative total) 2,500+α R&D costs 420 (FY21 to 25cumulative total) 2,000+α Steadily implement initiatives to achieve targets for FY2021 by leveraging earning power developed through the 2020 Mid-Term Business Plan 18/ 24
6. Actions in 2025 Mid-term Business Plan Action No. 1 As an interior space creator, establish a business model leading to further growth of Toyota Boshoku Interior space creator (in response to MaaS) Lv5 Materiality No. 1 Transformable space free from Space that makes travel fun driving Offering solutions for realizing automobile interior while always being taken care space that pursues comfort premised on safety and environment for customers around the world Lv4 Lv3 System supplier that manages entire interior space Materiality No. 2 Enhance advanced development (strengthen collaboration within Group) Materiality No. 2 5 companies collaboration Lv2 • Personal air conditioning and active driver engagement system • Seat-incorporated safety belt ■ Supplier covering from material development to assembly ■ Enhance development capabilities ■ Strengthen production engineering capabilities Strengthen business ■ Develop human resources ■ Enhance management infrastructure structure to raise earning ■Accelerated our effort to become an interior space creator: reorganize Interior Space Visioneering Center. power ■Integrated product management function of the Seat Business Segment and Interior & Exterior Business Segment, newly established Product Planning and Development Promotion Center. 2018 2020 2025 2030 19/ 24
6. Actions in 2025 Mid-term Business Plan Action No. 2 Establish a procurement base to strengthen global competitive advantage Materiality No. 3 Reforming supply chains: Restructuring supply chains by evaluation and stratification (higher-level SQCD) Target: Roadmap for 2025 Competitiveness * ISC: Interior space creator Expansion of core suppliers Internal ・Deciding suppliers to be ・Sharing direction with TB ・ISC*, new businesses Collaboration production trained by evaluation based on product Developing new strategies suppliers based on the Suppliers that can and stratification complement internal ・ Activities to train open-door policy for production ・ Building global suppliers expansion of SS field consensus for activities Suppliers to be trained Development of new suppliers Suppliers with challenges 2020 2021 2022 2023 2024 2025 (2) Supplier structure reform activity (3) Complement weaknesses of Specific cases suppliers (1) Training core suppliers (cover manufacturers) (door surface skin rolling manufacturers) Company F (Cost index) Strengths (’20/10~) ・High quality Contribu ・Cost competitiveness tion Supplier ・Technical capability Production Production ⇒Production ・Possible absence of Weaknesses preparation preparation preparation W/G next president due to Support Quality Quality ⇒Quality W/G hollowing-out of next- generation managers Production Production ⇒Production Secondment to Company A from engineering engineering engineering W/G Before activities After activities Sharing strengths and weaknesses each function of TB through management meetings, provide By promoting integrated activities between TB and suppliers, support for business succession issue, Enhance functions of company A , enhance supplier earnings base. and develop next-generation managers and develop the company into a core supplier 20/ 24
6. Actions in 2025 Mid-term Business Plan Action No. 3 Minimize environmental burden by promoting MONOZUKURI innovation Materiality No. 3 「Actions to carbon neutral」 Reducing Toyota Boshoku Group’s CO2 emissions to zero in 2050 ① Promote daily improvement (1) (Reference year: 2013) Promote 40 energy-saving items Progress of CO2 emissions ② Application of innovative technologies CO2 recovery and methanation system Daily improvement experimentation plant (Energy saving, Karakuri (introduction scheduled in 2022) improvement) Energy-saving diagnosis and Standardization improvement Dehydrator Application of innovative technologies ③ Introduce renewable energy CO2 collector Introduce solar power via PPA* Methanation Incinerator reactor Introduce renewable energy Desired cut 3-5%/year Zero * PPA: Power Purchase Agreement Solar power A direct agreement between a party that generates electricity and a user (2) Reducing life cycle CO2 emissions to zero To be able to respond to the Japanese Government’s reduction 資源採掘 素材製造 生産 物流 走行 廃棄 Material Resource mining manufacturing Production Logistics Driving Disposal target for 2030(reduce 46%), we will establish the Carbon Neutral Enviroment Division, and enhance collaboration with Toyota G, JAMA, and JAPIA, etc. Promote activities througout the entire value chain 21/ 24
グランドデザイン(案) 6. Actions in 2025 Mid-term Business Plan Action No. 4 Build management information infrastructure Strengthen competitiveness Centralized information Finance Safety Cost and Enhance governance and expedite decision making Personnel productivity Global Headquarters Financial KPI Non-financial KPI Procurement Quality Analysis Safety Sales Environment Personnel Profit and loss Profit and loss Quality by site by product Improvement Steadily implement the Mid-term Productivity Business Plan by taking speedy actions globally in response to Cross-operational core system enviromental changes. 22/ 24
6. Actions in 2025 Mid-term Business Plan Action No. 5 Improve work quality by implementation of TQM by all employees Improve work quality (strengthen management Materiality No. 4 foundation) We will develop people capable of contributing to society, who have diverse values, a challenging spirit, and respect for teamwork. Organization (capability): Ability to carry out strategies To win the For Kariya Deming Prize Process: plant to win for all our Procedure for work or manufacturing the Deming company’s Prize seat products People:Skill map Phase1 Phase2 (qualifications, professional abilities) Efforts to win Deming Prize TQM Full Ceaseless Dissemination of Hoshin Customer first Philosophy participation improvement management Become Principles of For society and work honestly and Develop TQM education system single- Toyoda for people steadily minded 2018 2019 2020 2021 2022 2023 2024 Improve work quality of all our employees and develop human resources who can work self-efficiently. 23/ 24
Open the door, it’s a big world outside. Let’s tackle the challenges together to a new century. The forecasts relating to future business performance provided in this report are estimates made by the Company based on the information available at the time of reporting, and therefore involve risks and uncertainties. Accordingly, actual results may differ from the forecasts due to various factors. 24/ 24
Appendix
Appendix1)Status of the Consolidated Statement of Financial Position (Mar.31, 2021) :Compared to the previous Current assets year ( billion yen) 457.5billion yen Liabilities 459.0billion yen ↓ ↓ 506.8billion yen ・Increase in operating +49.3 +17.1 476.1billion yen receivables due to ・ funding to deal with recovery from lower covid-19 outbreak volume ・Increase in operating payables due to recovery Assets from low volume Non-current 845.7 billion yen assets (+780.7 billion yen from 323.1billion yen the previous year) ↓ +47.9 Equity 338.9billion yen 321.7billion yen +15.7 Total equity attribute ↓ to owners of the Increase in property, plant and equipment due to the parent 369.6billion yen construction of global 37.3% mainstay hub ↓ 39.6%
Appendix2)Consolidated Cash Flows (100 million yen) 796 Cash flows from operating activities: 744 △5.1 billion yen year-on-year Free cash flows: △2.4 billion yen year-on-year 254 230 Major factors ・Expenses for acquisition of property, plant and equipment etc. FY20 FY21 Cash flows from investing activities: +2.7 billion yen year-on-year △ 541 △ 513 (100 million yen) FY20 FY21 Change Cash flows from operating activities 796 744 △ 51 Cash flows from investing activities △ 541 △ 513 27 Free cash flows 254 230 △ 24 Cash flows from finacial activities △ 139 27 167 Impact of foreign exchange △ 63 59 123 Change in cash and cash equivalents 51 318 266 Balance of cash and cash equivalents 1,633 1,951 318
Appendix3) Quarterly Trends: Consolidated volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue JGAAP ◀ ▶ IFRS Revenue Seat Assembly Production (10,000 Units) (100 million yen) 201 206 8,000 188 191 195 193 190 194 220 183 183 186 181 183 183 169 119 3,665 3,444 3,418 3,605 3,597 3,518 3,629 3,434 3,782 3,484 4,000 3,325 3,398 3,607 3,144 3,333 110 2,120 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2018 FY2019 FY2020 FY2021 Operating Profit / Operating Profit Ratio Operating Profit Ratio Operating Profit (%) 400 8.0% 6.7% 5.9% 5.3% 4.9% 4.6% 4.9% 4.2% 4.4% 217 3.9% 4.0% 4.2% 3.9% 232 3.2% 2.5% 302 162 156 176 158 176 200 143 135 144 147 134 117 78 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q △6.6% △200 △140 FY2021 FY2018 FY2019 FY2020
Appendix4) Quarterly Trends: Japan volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 Units) (100 million yen) 4,000 90 100 83 85 84 85 81 79 79 79 79 75 76 73 73 76 1,981 2,086 1,840 1,984 2,003 2,063 1,904 2,076 1,846 1,856 50 2,070 1,882 1,713 1,773 1,813 2,000 50 1,229 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2018 FY2019 FY2020 FY2021 Operating Profit / Operating Profit Ratio (100 million yen) 300 5.4% 3.1% 3.3% 2.8% 2.2% 2.9% 1.8% 5.2% 1.8% 1.5% 1.1% 0.4% 0.0% △0.3% 150 111 97 58 64 68 50 31 39 31 34 8 20 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q △7 △19 △150 △1.1% △119 FY2018 FY2019 FY2020 FY2021 △9.7%
Appendix5) Quarterly Trends: The Americas volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue 2,000 (100 million yen) (10,000 Units) 50 34 32 33 30 29 30 31 31 28 29 28 27 29 27 27 1,000 25 750 691 702 715 723 724 727 709 752 718 630 664 651 653 624 12 279 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2018 FY2019 FY2020 FY2021 Operating Profit / Operating Profit Ratio 150 (100 million yen) 137 21.7% Impact of APA 7.2% 3.9% 3.4% 2.4% 4.5% 7.1% 3.9% 1.6% 2.6% 1.4% 2.1% 75 51 △0.5% 0.1% △2.4% 47 34 28 27 25 11 18 10 13 17 0 △20.1% 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q △3 △15 △75 △56 FY2018 FY2019 FY2020 FY2021
Appendix6)Quarterly Trends: Asia & Oceania volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue 2,000 (100 million yen) (10,000 Units) 80 67 61 62 59 62 58 56 59 58 59 54 55 55 52 47 42 892 908 929 892 874 928 938 1,000 828 840 829 851 840 787 854 40 642 661 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2018 FY2019 FY2020 FY2021 Operating Profit / Operating Profit Ratio (100 million yen) Impact of APA 14.1% 140 12.2% 132 10.4% 11.7% 10.0% 12.0% 9.9% 10.6% 109 113 94 9.8% 93 9.3% 8.7% 8.6% 84 90 9.3% 89 9.0% 81 78 72 78 78 6.8% 55 70 44 △18 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q △70 △2.0% FY2018 FY2019 FY2020 FY2021
Appendix7) Quarterly Trends: Europe & Africa volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue 1,000 (10,000 Units) 40 (100 million yen) 23 23 23 23 24 23 22 21 22 21 22 20 19 20 500 17 20 243 282 259 250 271 10 251 255 225 242 229 232 235 222 210 194 108 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY2018 FY2019 FY2020 FY2021 Operating Profit / Operating Profit Ratio 60 (100 million yen) 11.6% 13.4% 13.0% 12.9% 9.2% 8.5% 7.8% 6.6% 7.4% 6.6% 6.0% 6.6% 5.8% 30 29 32 32 2.6% 30 23 23 22 16 17 16 13 15 13 5 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q △10 △30 △28 △14.8% △10.0% FY2018 FY2019 FY2020 FY2021
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