Furuno Electric : Financial Results Briefing Materials (1.56MB)

3rd Quarter of Fiscal Year 2022 (Ending February 28, 2023)

Financial Results Briefing Materials

January 16, 2023

FURUNO ELECTRIC CO., LTD.

Cautions:

This document is a translation of the Japanese original, which is authoritative.

The information listed in these materials regarding the Company's forecasts are determined by management, based on the information available at the time of announcement, and potential risks and uncertainties. It should be noted that the actual results may differ substantially from these forecasts, due to these various elements.

The numerical values shown in these materials are the monetary amounts listed in the consolidated balance sheet, consolidated profit-and-loss statement,

consolidated statement of changes in shareholders' equity, and notes to consolidated financial statements. Shown values of less than one unit are truncated, and

ratios and other values are rounded off.

• "E" in this material represents that the figure is an estimation or a projection for operation.
• "FY" in this material indicates the fiscal year ending February 28 (29) of the succeeding year.
• "3Q" in this material represents the nine-month period beginning on March 1 and ending on November 30.

FURUNO ELECTRIC CO., LTD. All Rights Reserved.

Summary of 3rd Quarter of FY 2022

• Net Sales: Increase
• • Increase in overseas sales, especially Europe, for Marine Business helped by a weak yen, despite sales opportunities loss with production delays
• Gross Profit: Increase
• • Increase in gross profit with increase in sales for Marine Business, despite soaring components prices
• Operating Profit: Decrease
• • Increase in SG&A expenses with investments for future growth

FURUNO ELECTRIC CO., LTD. All Rights Reserved.

2

Consolidated Income Statement

Increase in SG&A expenses with continuous investments for future growth

(Unit: Millions of yen)		FY 2021	FY 2022	Year-over-Year	Year-over-Year		Impact Amount*
	3rd Quarter	3rd Quarter	(amount)	(ratio)
Net sales		62,613	64,979	+2,366	+3.8%		+500
Gross profit		24,057	25,252	+1,194	+5.0%		+84
(Sales ratio)		(38.4%)	(38.9%)
Operating profit		2,835	1,324	-1,510	-53.3%		+84
(Sales ratio)		(4.5%)	(2.0%)
Ordinary profit		3,343	2,306	-1,036	-31.0%
		*Change in
(Sales ratio)		(5.3%)	(3.6%)
				accounting standard
Profit attributable to		2,270
owners of parent		1,276	-993	-43.8%
(Sales ratio)		(3.6%)	(2.0%)
R&D expenses		3,896	4,119	+222	+5.7%
(Sales ratio)		(6.2%)	(6.3%)
Capital investment		2,549	1,962	-586	-23.0%
(Sales ratio)		(4.1%)	(3.0%)
Depreciation expenses		2,318	2,260	-58	-2.5%
(Sales ratio)		(3.7%)	(3.5%)
(Unit: Yen, annual average exchange rate)
1 USD		108	125	+17	+15.9%
1 EUR		130	136	+6	+4.7%

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Analysis of Increase/Decrease in Net Sales

Addition of consolidated subsidiaries and overseas sales increase in Marine Business

660

(Unit: 100 Millions of Yen)

650

640

	Asia		Other
-3.2	Regions
630		-1.3

Other Business

Industrial+0.5

Business

+0.5

	Europe	Wireless
	+6.1	LAN Systems
Japan	Americas	+4.7
+2.0	+0.4
		Consolidated
		Subsidiaries

620

610

600

626

+14.1	650

Marine Business

+18.1

FY 2021

3rd Quarter

Sales	FY 2022
+23.7	3rd Quarter

FURUNO ELECTRIC CO., LTD. All Rights Reserved.	4

Analysis of Increase/Decrease in Gross Profit on Sales

270

260

250

240

230

220

210

200

Increase in components prices but increase in overseas sales, etc. in Marine Business

(Unit: 100 Millions of Yen)	Marine	Wireless LAN Systems
	Sales Increase.
	Overseas Sales
	+2.0
Marine	Increase, etc.
Components	+32.5
Prices Increase, etc.

-24.1		Others
			Industrial
			-0.4
			Sales Increase, etc.
			+1.9
241				253

FY 2021	Gross Profit on Sales	FY 2022
3rd Quarter	+11.9	3rd Quarter

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