Worth reading
45Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
593
¥ million (year-on-year decrease in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFirst quarter of the fiscal year ending March 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥29,658 million+1.3%
Operating profit¥86 million-87.3%
Ordinary income¥-14 million
Net income¥-154 million
Gross Profit Margin8.5
Operating profit margin0.3
Selling, general and administrative expenses¥2,423 million
Results for the three months of the current quarter
Net Sales
¥29,658 million
Operating profit
¥86 million
Ordinary income
¥-14 million
Net income
¥-154 million
Full-year earnings forecast
Net Sales
¥118,000 million
Operating profit
¥2,400 million
Ordinary income
¥2,000 million
Net income
¥1,600 million
Earnings per share
¥84.75
Dividend per share
¥25
Capital expenditures
¥4,800 million
Depreciation and amortization
¥4,816 million
What the company explained in this material
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
- One-off factors: No particular one-off factors arose at the operating income level. Non-operating income included approximately ¥48 million in gains from the collection of receivables previously written off following the bankruptcy of a customer for bicycle airbag products.
- Recovery of tariff costs: There was no significant progress in the first quarter, and discussions continue, including on amounts not agreed in the previous fiscal year.
- Situation in the Middle East: There has been no direct impact on production activities, but raw material prices have been trending higher, and discussions are under way on passing these increases through to selling prices.
- Medium-term management plan: The timing of the announcement of the Seventh Medium-Term Management Plan has not been determined.
- China business: The company will accelerate further minimization of its local operating structure to minimize losses.
- Major customers' revisions to their EV strategies: Following changes to or cancellations of new-vehicle development plans, the company is applying for compensation for development expenses and capital expenditures and is pursuing orders for new vehicle models.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Rationalization389
Reduction in fixed costs57
Decrease in depreciation and amortization26
Impact of lower revenue-64
Foreign Exchange Effects-17
Increase in variable costs-6
Model mix differences, etc.-979
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
US dollar exchange rate
¥155
New initiatives
- Further minimization of the local operating structure in China
- Applications to major customers for compensation for development expenses and capital expenditures
- Pursuit of orders for newly introduced vehicle models
Segment results
Japan
Net Sales
¥10,916 million+6.5%
Operating profit
¥336 million+600.6%
North America
Net Sales
¥16,008 million0.0%
Operating profit
¥-280 million
China
Net Sales
¥2,005 million-7.3%
Operating profit
¥-148 million
Asia
Net Sales
¥727 million-16.3%
Operating profit
¥126 million-16.4%
Financial targets
Equity ratio
44 %
Capital expenditures
¥4,800 million
Annual Dividend
¥25
Interim12.5
End of period12.5
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥29,658 million (YoY +1.3%) |
| Operating profit | ¥86 million (YoY -87.3%) |
| Ordinary income | ¥-14 million |
| Net income | ¥-154 million |
| Gross Profit Margin | 8.5 |
| Operating profit margin | 0.3 |
| Selling, general and administrative expenses | ¥2,423 million |
| Results for the three months of the current quarter | Net Sales ¥29,658 million / Operating profit ¥86 million / Ordinary income ¥-14 million / Net income ¥-154 million |
| Full-year earnings forecast | Net Sales ¥118,000 million / Operating profit ¥2,400 million / Ordinary income ¥2,000 million / Net income ¥1,600 million / Earnings per share ¥84.75 / Dividend per share ¥25 / Capital expenditures ¥4,800 million / Depreciation and amortization ¥4,816 million |
| Segment results | Japan Net Sales ¥10,916 million (YoY +6.5%) / Operating profit ¥336 million (YoY +600.6%) / North America Net Sales ¥16,008 million (YoY 0.0%) / Operating profit ¥-280 million / China Net Sales ¥2,005 million (YoY -7.3%) / Operating profit ¥-148 million / Asia Net Sales ¥727 million (YoY -16.3%) / Operating profit ¥126 million (YoY -16.4%) |
| Breakdown of Factors Affecting the Change | Rationalization 389 / Reduction in fixed costs 57 / Decrease in depreciation and amortization 26 / Impact of lower revenue -64 / Foreign Exchange Effects -17 / Increase in variable costs -6 / Model mix differences, etc. -979 |
| Assumptions Underlying the Business Outlook | US dollar exchange rate ¥155 |
| Financial targets | Equity ratio 44 % |
| Annual Dividend | ¥25 |
| Capital expenditures | ¥4,800 million |
| Key points of the Q&A | One-off factors: No particular one-off factors arose at the operating income level. Non-operating income included approximately ¥48 million in gains from the collection of receivables previously written off following the bankruptcy of a customer for bicycle airbag products., Recovery of tariff costs: There was no significant progress in the first quarter, and discussions continue, including on amounts not agreed in the previous fiscal year., Situation in the Middle East: There has been no direct impact on production activities, but raw material prices have been trending higher, and discussions are under way on passing these increases through to selling prices., Medium-term management plan: The timing of the announcement of the Seventh Medium-Term Management Plan has not been determined., China business: The company will accelerate further minimization of its local operating structure to minimize losses., Major customers' revisions to their EV strategies: Following changes to or cancellations of new-vehicle development plans, the company is applying for compensation for development expenses and capital expenditures and is pursuing orders for new vehicle models. |
| New initiatives | Further minimization of the local operating structure in China, Applications to major customers for compensation for development expenses and capital expenditures, Pursuit of orders for newly introduced vehicle models |
Items this document does not state (12)
Progress against full-year forecastSelf-assessment against the planKey KPIsUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsPayout ratioAcquisition of treasury sharesOrders received and order backlogMarket Size / Share
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company cited the negative impact of differences in vehicle model mix and other factors, lower revenue, higher variable costs, and foreign exchange movements as factors behind the decline in profit. Although rationalization, fixed-cost reductions, and lower depreciation expense had a positive effect, these improvements were insufficient to offset the factors reducing profit. By region, the company cited lower sales of dies in North America, higher tariff costs, and rising wages; lower revenue, costs associated with reviewing the personnel structure, and weaker production efficiency in China; and lower revenue in Asia.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.