Aida Engineering : Presentation of Consolidated Financial Results for the 2nd Quarter of the FY Ended March 31, 2023

Presentation of Consolidated Financial Results

for the 2nd Quarter of the FY Ended March 31, 2023

（from Apr. 2022 to Sep. 2022）

1

Highlights of Consolidated Results Summary of P&L

	(JPY mil.)			FY2022/3	FY2023/3		Fluctuation
			1st Half	1st Half		Amount	%
	Order Intake			42,435	47,302		4,867		11.5%
	Net Sales			26,910	32,164		5,253		19.5%
	Cost of Sales			21,934	26,862		4,927		22.5%
	Gross Profit			4,975	5,302		326		6.6%
				18.5%	16.5%				(△2.1P)
	Selling, general and administrative		4,177	4,585		408		9.8%
	expenses
	Operating Income			798	716		△ 82		△10.3%
			3.0%	2.2%				(△0.8P)
	Ordinary Income			962	789		△ 173		△18.0%
	Income Before Income Taxes		863	885		22		2.6%
	Net Income/Loss			552	495		△ 57		△10.3%
	Exchange Rate		1USD		¥109.80	¥133.93		24.13		22.0%
		1EUR		¥130.85	¥138.70		7.85		6.0%
					Order Intake	Orders for 'high-speed presses' rose significantly due to increased capital
					investment in electric vehicle-related equipment, with orders for the first half of
						the year reaching a record high (increased 11.5% year-on-year).
				Sales increased 19.5% year-on-year due to increase of EV related press sales
		Net Sales	(large presses and high speed presses) and the impact of foreign exchange rates
		(impact of a weaker yen), but were lower than initial expectation due to sales
	Orders increased			delays caused by the electronic components shortage.
			Gross profit increased 6.6% year-on-year due to the above factors, but the
	significantly due to
		Gross Profit	gross margin declined year-on-year due to higher raw material prices, increased
	increased demand related		outsourcing and logistics costs, as well as delays in the sale of high-profit press
	to electric vehicles, with			projects and services.
			Operating income dropped 10.3% year-on-year, due to the above-mentioned
	sales reaching a record high		Operating Income
		factor of lower gross margins, as well as an increase in SGA expenses
	for the first half of the year,			(including the effect of a weaker yen).
	but profits declined due to			Ordinary income decreased 18.0% year-on-year due to the above factors, as
	lower gross margins.		Ordinary Income
		well as an increase in foreign exchange losses and commission paid.
					Net Income	Net income declined due to the above factors, but only by 10.3% year-on-year
					because of the elimination of "Losses relating to COVID-19 and impairment loss
						in Chinese factory booked previous fiscal year.
										2

Trend of Sales, Gross Profit and Operating Income

JPY(million)	Net Sales	Gross Profit	Operating Income/Loss		Gross Profit ratio		Operating Income ratio

25,000					20%
20,000					15%
15,000					10%
10,000					5%
5,000					0%
0					-5%
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q
1Q				1Q

JPY(million)		FY2022/3			FY2023/3
1Q	2Q	3Q	4Q		1Q	2Q

			Net Sales	13,079	13,830	17,192	18,363		13,665	18,498
			Gross Profit	2,375	2,600	2,724	3,192		2,174	3,127
			Operating Income/Loss	270	528	601	1,105			△ 121	837
			Gross Profit ratio	18.2%	18.8%	15.8%	17.4%		15.9%	16.9%
			Operating Income ratio	2.1%	3.8%	3.5%	6.0%			△0.9%	4.5%

3

Sales to Third Party (by Business/Customer/Geographic segment)

Sales by Business segment（Press related / Others）

	(JPY mil.)	FY2022/3	FY2023/3			Fluctuation
	1st Half	1st Half		Amount	%
Press Machines	18,096	67.2%	23,502	73.1%			5,406		29.9%
Services	6,869	25.5%	6,860	21.3%			△ 9		△ 0.1%
Others	1,944	7.2%	1,801	5.6%			△ 142		△ 7.3%
	Total	26,910	100.0%	32,164	100.0%			5,253		19.5%
	Press Machines	Services	Others
			898	1,313					1,010
			3,866					3,984
830	1,114	3,129	790
3,104	3,764			2,876
9,144	8,951	13,163	13,183	9,998			13,503
	FY2022/3	2Q	3Q	4Q	FY2023/3			2Q
	1Q				1Q

Sales	by Geographic segment
	(JPY mil.)		FY2022/3	FY2023/3		Fluctuation
		1st Half	1st Half		Amount	%
Japan			10,120		37.6%	11,307		35.2%		1,186		11.7%
China			3,906		14.5%	5,043		15.7%		1,136		29.1%
Asia			1,155		4.3%	3,119		9.7%		1,963		170.0%
Americas			5,836		21.7%	7,951		24.7%		2,114		36.2%
Europe			5,890		21.9%	4,742		14.7%		△ 1,148		△ 19.5%
	Total		26,910		100.0%	32,164		100.0%		5,253		19.5%
	Japan	China	Asia	Americas Europe
					2,897	3,397				2,877
					4,146	1,865	4,495
3,004		2,886	3,654
	1,731
2,856		2,980	1,323	1,696		3,456
553			601	2,477	2,113		1,387	3,330
1,806		2,100	6,838	7,009	1,712	6,064
	4,859		5,261	5,243
	FY2022/3	2Q		3Q	4Q	FY2023/3		2Q
	1Q									1Q

Sales by Business segment of the Medium-Term Management Plan（Press / FA / Service）

	(JPY mil.)	FY2022/3		FY2023/3		Fluctuation
	1st Half		1st Half		Amount	%
Press Machines	15,688	58.3%		20,869		64.9%		5,180	33.0%
Factory Automation	2,761	10.3%		3,155			9.8%		393	14.2%
Services	8,460	31.4%		8,140		25.3%		△ 320	△ 3.8%
	Total	26,910	100.0%		32,164		100.0%		5,253	19.5%
	Press Machines	Factory Automation Services
			3,931		4,951					4,666
3,757	4,703	1,917		1,365		3,473		1,405
1,801	960						1,749
11,342		12,046					12,426
7,521	8,166			8,442
	FY2022/3	2Q	3Q	4Q		FY2023/3		2Q
	1Q							1Q

Sales (press machines) by Customer industry

(JPY mil.)	FY2022/3	FY2023/3	Fluctuation
1st Half	1st Half	Amount	%
Automotive relate	12,414	68.6%	16,036	68.2%	3,622	29.2%
Electric related	1,906	10.5%	1,884	8.0%	△ 21	△ 1.1%
Other industries	3,776	20.9%	5,581	23.7%	1,805	47.8%
Total	18,096	100.0%	23,502	100.0%	5,406	29.9%

Automotive related Electric related Other industries

		2,706	2,427		2,968
1,810	1,965	1,148	1,583	2,613	1,140
828	1,077	9,309	9,171	744	9,394
6,505	5,908	6,641
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q
1Q				1Q

4

Sales / Operating Income (by Geographic segment)

Japan

(JPY mil.)	FY2022/3	FY2023/3	Fluctuation
1st Half	1st Half	Amount	%
Net Sales	16,215		18,736	2,520	15.5%
Operating	85	0.5%	△ 288	△ 1.5%	△ 374	-
Income
				Net Sales		Operating Income

		10,650	11,322
				9,818
				8,917
7,958	8,257
	542
89		174
△ 3			△ 97
					△ 190
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q
1Q				1Q

China

(JPY mil.)

FY2022/3

FY2023/3

Fluctuation

1st Half

1st Half

Amount

%

Net Sales

4,094

5,331

1,236

30.2%

Operating

379

9.3%

253

4.8%

△ 126

△33.3%

Income

Net Sales

Operating Income

					3,558
	2,178	2,564	2,192
1,915		1,772
		235	225
187	192
126
				28
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q
1Q				1Q

Asia

(JPY mil.)	FY2022/3	FY2023/3	Fluctuation
	1st Half	1st Half	Amount	%
Net Sales		2,383	5,433	3,049	128.0%
Operating		155	6.5%	339	6.3%	184	119.3%
Income
Net Sales				Operating Income

					3,229
		2,495	2,766
			2,203
			353
1,231	1,151	237			243
66	88			95
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q
1Q				1Q

Americas

(JPY mil.)

FY2022/3

FY2023/3

Fluctuation

1st Half

1st Half

Amount

%

Net Sales

5,888

8,197

2,308

39.2%

Operating

62

1.1%

49

0.6%

△ 13

△21.0%

Income

Net Sales

Operating Income

			4,272		4,543
		3,707		3,653
2,885	3,003
	105	46	160		147
△ 42
			△ 98
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q
1Q				1Q

Europe

(JPY mil.)

FY2022/3

FY2023/3

Fluctuation

1st Half

1st Half

Amount

%

Net Sales

6,096

4,991

△ 1,105

△18.1%

Operating

75

1.2%

87

1.8%

11

15.3%

Income

Net Sales

Operating Income

			3,616
3,027	3,069	2,945			2,959
				2,032
					89
45	30	24	10
	△ 1
FY2022/3	2Q	3Q	4Q	FY2023/3	2Q
1Q				1Q

5