Pacific Industrial : Financial Results Briefing for FY2023

Financial Results Briefing for FY2023

The 100th period：Apr. 1st, 2023- Mar. 31st, 2024

May 8, 2024

Contents

１．FY2023 Financial Performance

２．Consolidated Forecast FY2024

３．The Progress of Mid-term

Business Plan "NEXUS-26"

Cautionary Statement with Respect to Forward-Looking Statements

These forward-looking statements are not guarantees of future performance. It involves any risk depending on the Japanese or international economic situation, business trends related to our company, fluctuation of exchange rates and other factors. It may cause our actual performance to be materially different from any future results announced.

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1-1 FY2023 Consolidated Financial Summary

Sales volume increased due to steady automobile production, and both sales and profits reached record highs

（100 millions of yen, ％）

FY2022

FY2023

YoY

rate

22/Q4

Full Year

23/Q4

Full Year

Q4

Full Year

Results

Results

Results

Results

Gain&Loss

% Change

Gain&Loss

% Change

Sales

478

1,912

Record

513

Record

2,073

+35

＋7.4

+160

＋8.4

High

High

Operating Income

36

92

32

Record

144

△3

△10.9

+51

＋55.5

High

Operating Income Ratio

7.5%

4.9%

6.3%

7.0%

△1.2P

－

+2.1P

－

Ordinary Income

46

132

44

Record

188

△2

△4.3

+56

＋42.6

High

Ordinary Income Ratio

9.8%

6.9%

8.7%

9.1%

△1.1P

－

+2.2P

－

Net income attributable to

31

93

Record

60

Record

169

+29

＋95.7

+76

＋82.5

owners parent

High

High

Net Income margin

6.5%

4.9%

11.8%

8.2%

+5.3P

－

+3.3P

－

Average exchange rate（U.S. dollars）

¥133.3

¥134.9

¥147.0

¥144.2

¥13.7

－

¥9.3

－

•

Sales decrease since FY2022 Q4 due to expansion of offsetting range of sales and its cost; the impact of customer-received

steel materials for stamping.

As a result of this, FY2023 results includes a 24.4 billion yen year-on-year decline in net sales. No

impact on income.

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1-2 Analysis of Consolidated Results : Sales

Sales reached record highs due to the sales volume increase and the exchange conversion

						(100 millions of yen)
			Material	Exchange	Selling
			Price	gain	Price	2,073
	Customer-received	Exchange		+7	+1
	+74
	Conversion
	steel materials
1,912	for stamping	+83
		Sales
		Volume
	△244	+239

FY2022

Sales ＋16 Billion yen

FY2023

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1-3 Analysis of Consolidated Results : Operating Income

Record-high profit due to increase in sales volume and cost improvement despite increase in production volume and cost increase

(100 millions of yen)

							Depreciation	Selling
					Cost	Exchange	(excl.dies)	Price	144
					gain	+5	+1
				Improvement	+7
	Labor			Sales	+30
92			Volume
Cost
	△24	Expenses	Material
			+64
		△17	Price
			△15

FY2022

Operating Income + 5.1 billion yen

FY2023

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1-4 Consolidated Results by Business Segments

Stamping and plastic molding business increased sales and profit; valve business increased sales but profit remained flat YoY

（100 million yen,％）

		FY2022
		Result
Stamping &		1,368
Plastic Molding
(The Impact of increased		(△51)
customer-received materials for
stamping)
Operating Income Ratio
Valves		542
Operating Income Ratio

Sales				Operating Income
FY2023	YoY Rate	FY2022	FY2023	YoY Rate
Result	Gain&Loss	%Change	Result	Result	Gain&Loss	%Change
1,499	+131	+9.6	49	103	+54	+108.8
*
(△295)	(△244)
			3.6%	6.9%	+3.3P
571	+29	+5.4	42	41	△1	△3.3
			7.9%	7.2%	△0.7P

*Sales decrease since FY2022 Q4 due to expansion of offsetting range of sales and its cost; the impact of customer-received steel materials for stamping.

No impact on income.

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1-5 Consolidated Results by Region

Sales and profits are expected to increase in real terms in Japan, Europe and
the America. In Asia, sales at the same level as the previous year and profit
decline.							（100 millions of yen,％）
			Sales				Operating Income
	FY2022		FY2023	YoY Rate	FY2022	FY2023	YoY Rate
	Result		Result	Gain&Loss	%Change	Result	Result	Gain&Loss	%Change
Japan	706		679	△27	△3.8	49	62	+12	+25.3
(The Impact of increased customer-	(△51)	*	(△295)	(△244)
received materials for stamping)
Operating Income Ratio						7.1%	9.2%	+2.1P
Europe & America	781		969	+188	+24.2	△1	43	+44	-
Operating Income Ratio						△0.2%	4.4%	+4.6P
Asia	425		424	△0	△0.2	36	26	△9	△26.9
Operating Income Ratio						8.7%	6.4%	△2.3P
* Sales decrease since FY2022 Q4 due to expansion of offsetting range of sales and its cost; the impact of customer-received steel materials

for stamping. No impact on income.

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1-6 Consolidated Quarterly Results

Profit declined from Q3 due to increased preparation costs for the start of new plant operations and amortization burden etc.

Sales

(100 millions of yen)

Operating Income	(100 millions of yen)

Sales

increase due to yen depreciat ion

Decrease

in sales

due to the

increase

of

customer-

received materials for stamping.

Record

high for

Q1 due to

increase

in

productio n volume

Increase in sales

due to higher sales

volume and yen

depreciation

Production

lines of

some

customers

stopped

Secured

income due to improved profitability

Profit
increased			Increas
due to
	Profit	e in
retroactiv
	decrease	dies
e
	due to Q4	and
adjustme
	retroactive	molds
nt of
	adjustment	profit
selling
	s
prices

Decrease	Profit
in dies	decreas
and	e due to
molds	lower
profit.	sales
Increase	volume
in new
plant
costs.

525	478	493	533	533	513

30

43

36

31

37

32

22/Q3

22/Q4

23/Q1

23/Q2

23/Q3

23/Q4

22/Q3

22/Q4

23/Q1

23/Q2

23/Q3

23/Q4

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Contents

１．FY2023 Financial Performance

２．Consolidated Forecast FY2024

３．The Progress of Mid-term

Business Plan "NEXUS-26"

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（ 100 millions of yen, ％）

2-1 Full Year Forecast FY2024

Expect income decrease due to lower sales volume and higher labor cost, expenses etc.

	FY2023		FY2024			YonY	rate
	Q2 Cumulative	Full Year		Q2 Cumulative	Full Year		Q2 Cumulative	Full Year
	Results	Results		Forecast	Forecast		Gain&Loss	%Change	Gain&Loss	%Change
Sales	1,026	2,073		980	2,000		△46	△4.5%	△73	△3.5%
Operating Income	74	144		45	110		△29	△40.0%	△34	△23.9%
Operating Income Ratio	7.3%	7.0%		4.6%	5.5%		△2.7P	－	△1.5P	－
Ordinary Income	103	188		55	130		△48	△46.8%	△58	△31.0%
Ordinary Income Ratio	10.1%	9.1%		5.6%	6.5%		△4.5P	－	△2.6P	－
Current Net Income *	75	169		45	100		△30	△40.2%	△69	△41.1%
ＲＯＥ	－	11.2%		－	6.0%		－	－	△5.2P	－
ＲＯＡ(Operating income basis）	－	5.3%		－	3.7%		－	－	△1.6P	－
Net Assets per Share	－	¥2,840		－	¥2,895		－	－	+55円	1.9%
Average exchange rate (US dollars)	¥139.9	¥144.2		¥145.0	¥145.0		¥5.1	－	¥0.8	－

* Current net income is the current net income attributable to the parent company shareholders.

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