Consolidated financial results for FY2016

Transcription

1 Consolidated financial results for FY216 The fiscal year April 1, 215 to March 31, 216 Takata Corporation May 25, 216 Our mission your safety.

2 FY216 results overview 2

3 FY216 Consolidated financial highlights 3 FY215 FY216 Average rate during period Net sales % Operating income % Operating income ratio 5.1% 5.9% - - Exchange rate effects on sales: 15.7 billion yen After accounting for exchange rate effects: +9.2% Ordinary income (5.4) (13.4%) Extraordinary loss (58.6) (44.2) - - Net income (loss) (29.5) (13.) USD/yen Euro/yen Consolidated net sales trends Consolidated operating income trends 5.9% 5.1% 4.7% FY214 FY215 FY216 FY214 FY215 FY216

4 1.% 9.% 8.% 7.% 6.% 5.% 4.% 3.% 2.% 1.%.% FY216 Results by region: Japan 4 FY215 FY216 Net sales % Operating income (4.1) (44.2%) Operating income ratio 7.8% 4.1% - - *Total net sales value including internal transactions Net sales trends (consolidated before eliminations) Operating income trends % 7.8% % FY214 FY215 FY216 FY214 FY215 FY216

5 1.% 9.% 8.% 7.% 6.% 5.% 4.% 3.% 2.% 1.%.% FY216 Results by region: Americas 5 FY215 FY216 Net sales % Operating income % Operating income ratio 1.9% 5.1% - - *Total net sales value including internal transactions Exchange rate effects on sales: 19.9 billion yen After accounting for exchange rate effects: +1.9% Net sales trends (consolidated before eliminations) Operating income trends % 1 FY214 FY215 FY %.9% FY214 FY215 FY216

6 7.% 6.% 5.% 4.% 3.% 2.% 1.%.% FY216 Results by region: Europe 6 FY215 FY216 Net sales % Operating income (2.3) (75.2%) Operating income ratio 1.8%.4% - - *Total net sales value including internal transactions Exchange rate effects on sales: (1.5 billion yen) After accounting for exchange rate effects: +8.% Net sales trends (consolidated before eliminations) Operating income trends % 1.8% 5 5 FY214 FY215 FY %.7 FY214 FY215 FY216

7 1.% 8.% 6.% 4.% 2.%.% FY216 Results by region: Asia 7 FY215 FY216 Net sales % Operating income % Operating income ratio 9.4% 1.7% - - *Total net sales value including internal transactions Exchange rate effects on sales: 13.9 billion yen After accounting for exchange rate effects: +1.6% Net sales trends (consolidated before eliminations) Operating income trends % % % 19.3 FY214 FY215 FY216 FY214 FY215 FY216

8 FY216 Consolidated net sales by product 8 Consolidated after eliminations FY215 Composition ratio FY216 Composition ratio Seat belts % % % Airbags % % % Steering wheels % % % Other % % % Total % % % 3 FY FY Seat belts Airbags Steering wheels Other

9 FY216 Customer composition 9 Top 5 customers Composition of net sales by major customer Rank FY215 FY216 Japanese American European Asian/Other 1 Honda Honda 2 VW Renault Nissan 3 GM Ford 4 Renault Nissan GM 13% 22% 25% 14% 19% 27% 5 Fiat Chrysler Fiat Chrysler Top % 52.9% 39% FY215 4% FY216 9

10 FY216 Operating income analysis (summary) 1 Unit: Billion yen FY215 Sales effect Cost reduction etc. R&D expenditure Depreciation Recall related expenses FY216

11 FY216 Financial position 11 FY214 FY215 FY216 s Cash and deposit (17.8) Interest-bearing debt (2.2) Net 17.2 (9.9) (25.5) (15.5) Capital adequacy ratio (%) Investment grade (JCR) (3.5) A BBB+ BB- - CCC days (8) Cash and deposits: includes securities and fixed deposit of more than 3 months CCC: Cash conversion cycle

12 FY216 Consolidated balance sheet 12 FY213 FY214 FY215 FY216 s Current asset (12.7) (Cash and deposits) (17.8) (Inventories) Fixed assets (19.6) (Investment securities) (9.5) Total assets (32.3) Current liabilities (7.4) (Interest-bearing debt) (Warranty reserve) (32.4) Fixed liabilities (1.8) (Interest-bearing debt) (7.) Total liabilities (8.2) Net assets (24.1) Total liabilities and net assets (32.3) Cash and deposits: includes securities and fixed deposit of more than 3 months

13 FY217 forecasts

14 FY217 Consolidated full-year financial outlook 14 FY216 result FY217 forecast Net sales (48.) (6.7%) Operating income (9.1) (21.7%) Ordinary income (2.7) (7.7%) Net income (loss) (13.) USD/yen Euro/yen After accounting for exchange rate effects on sales change :+1.7% Consolidated net sales trends Consolidated operating income trends % 3.5% 4.7% 26.2 Operation income 5.9% 5.1% Ratio 4.9% FY212 FY213 FY214 FY215 FY216 FY217f FY212 FY213 FY214 FY215 FY216 FY217f

15 FY217 forecast : Japan Lower earnings on fall in sales Higher recall-related expenses (SG&A, etc.) Lower material costs due to yen appreciation FY217 Automobile production sales growth rate 15 FY217 Takata sales growth rate Japan 6.3%) Japan (5.7%) FY216 result FY217 forecast Net sales (7.2) (5.7%) Operating income (1.4) (28.8%) Operating income ratio 4.1% 3.1% - - *Total net sales value including internal transactions Net sales trends Operating income / ratio trends % 7.5% 7.8% FY212 FY213 FY214 FY215 FY216 FY217f 1 4.% 4.1% % FY212 FY213 FY214 FY215 FY216 FY217f 15

16 FY217 forecast : Americas Higher material costs due to yen appreciation Higher recall-related expenses (SG&A, etc.) Accelerating streamlining and fixed cost reductions Expanding production facilities to enhance quality in Mexico FY217 Automobile production growth rate North America South America + 4.4% (8.5%) 16 FY217 Takata sales growth rate North America South America + 3.3% +7.5% After accounting for exchange rate effects FY216 result FY217 forecast Net sales (32.4) (9.5%) Operating income (6.3) (36.5%) Operating income ratio 5.1% 3.6% - - *Total net sales value including internal transactions After accounting for exchange rate effects on sales change:+3.6% 3 Net sales trends Operating income / ratio trends FY212 FY213 FY214 FY215 FY216 FY217f 1 5.1% % 1.9% 3.6%.9% 5.5.1% FY212 FY FY214 FY215 FY216 FY217f

17 FY217 forecast : Europe Lower earnings on fall in sales Accelerating streamlining and fixed cost reductions Full-scale launch of Hungary (Miskolc) plant FY217 Automobile production growth rate Germany +2.9 % Russia (.5%) Europe 3.5% 17 FY217 Takata sales growth rate Europe (1.9%) After accounting for exchange rate effects FY216 result FY217 forecast Net sales (13.7) (7.5%) Operating income % Operating income ratio.4%.8% - - *Total net sales value including internal transactions After accounting for exchange rate effects on sales change: (1.9%) 2 Net sales trends 1 Operating income / ratio trends % FY212 FY213 FY214 FY215 FY216 FY217f % 1.8%.8% % -1.7% (2.) 17 FY212 FY213 FY214 FY215 FY216 FY217f

18 FY217 forecast : Asia 18 Higher material costs due to yen appreciation China: Higher labor costs China: Full-scale operation of third plant (Jingzhou) FY216 result FY217 forecast FY217 Automobile production growth rate FY217 Takata sales growth rate China +4.1% China (3.2%) Thailand +.9% Thailand + 2.7% Net sales (11.2) (6.2%) Operating income (2.5) (13.%) Operating income ratio 1.7% 9.9% - - After accounting for exchange rate effects *Total net sales value including internal transactions After accounting for exchange rate effects on sales change: (.%) Net sales trends Operating income / ratio trends % 6.7% % % % % 16.8 FY212 FY213 FY214 FY215 FY216 FY217f FY212 FY213 FY214 FY215 FY216 FY217f

19 FY217 Operating income analysis (summary) FY216 Sales effect Labor cost, SGA etc. R&D expenditure Depreciation Recall related expenses FY217f

20 CAPEX / Depreciation 2 FY216 result FY217 forecast CAPEX (5.8) (2.3%) Depreciation % CAPEX is calculated on the basis of acquired fixed and intangible assets as recorded in consolidated statements of cash flow from investing activities. CAPEX trend Depreciation trend 4 5.3% CAPEX Ratio to sales 5.5% 4 Depreciation Ratio to sales 3 4.1% % % % % 3.4% 愛知川 3.2% % 3.% % 22.5 FY212 FY213 FY214 FY215 FY216 FY217f FY212 FY213 FY214 FY215 FY216 FY217f

21 R&D 21 FY216 result FY217 forecast R&D % R&D ratio 3.4% 4.% - - R&D trend 4 R&D Ratio to sales 4.8% 4.7% % % 3.4% % 愛知川 FY212 FY213 FY214 FY215 FY216 FY217f

22 Takata Corporation IR Office TEL: Disclaimer The information provided on these materials is not intended to be and should not be construed as an inducement to purchase or sell stock in Takata Corporation. You should make any investment decisions relating to the stock of Takata Corporation on the basis of your own assessment and judgment. The information in these materials includes forward-looking statements and forecasts, as well as historical results. Please be informed that such forward-looking statements and forecasts are not guarantees of future results, but rather are inherently risky and uncertain and therefore actual results may be materially different. Takata Corporation does not assume any responsibility for any damage resulting from the use of the information contained in these materials.