Press Kogyo : FY2023 First Quarter (1Q) Financial Results
August 29, 2023 at 03:17 am
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Beyond manufacturing.
Toward creation.
FY2023 First Quarter(1Q)
Press Kogyo Co., Ltd.
Financial Results
August 9, 2023
Agenda
Ⅰ. FY2023 First Quarter(1Q) Financial Results
Note: This document is a translation from the Japanese original for reference purposes only. In the event of any discrepancy between this translation and the Japanese original, the Japanese original shall prevail. Press Kogyo Co., Ltd. assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
1
Financial Results
Millions of Yen
FY2022
FY2023
Difference
1Q
1Q
Net Sales
42,287
51,203
+8,916
+21.1%
Operating Income
2,448
3,325
+877
+35.8%
Consolidated operating
5.8%
6.5%
+0.7%
-
Income ratio
Ordinary Income
2,935
3,689
+754
+25.7%
Net Income*
1,628
2,384
+756
+46.5%
*Net Income Attributable to Owners of the Parent.
Acquisition of treasury
1,000
1,000
+0
stock
Main factors contributing to
increase in profit
Effect of
energy
Total
steel
foreign
costs
exchange
+903
+1,813
+90
+2,807
-
+133
△161
△28
USD
THB
RMB
SEK
FY22
122.41
3.69
19.25
13.25
FY23
133.54
3.92
19.42
12.90
■ Financial Results showed increases year on year owing to improvement in component shortages and effects of foreign exchange due to weak yen
■ Recorded gain of 509 million yen in extraordinary income for land use rights at subsidiary in China (PMC), which was dissolved in September 2021 (added 282 million yen to net income)
2
Sales by Regions
Millions of Yen
Effect of foreign exchange
FY2022
FY2023
Difference
1Q
1Q
Foreign exchange
After
Difference
gains and losses
exclusion
Press Kogyo
14,884
17,643
+2,759
+18.5%
17,643
+2,759
Domestic
7,215
8,386
+1,171
+16.2%
8,386
+1,171
Subsidiaries
Thailand
15,553
22,388
+6,835
+43.9%
1,314
21,074
+5,521
U.S.A.
5,626
5,051
△575
△10.2%
421
4,630
△996
Indonesia
1,672
1,577
△95
△5.7%
131
1,446
△226
Sweden
2,205
2,015
△190
△8.6%
△ 55
2,070
△135
China
814
532
△282
△34.6%
5
527
△287
Elimination
△5,683
△6,389
△706
-
△ 3
△ 6,386
△704
Total
42,287
51,203
+8,916
+21.1%
1,813
49,390
+7,103
Main factors contributing
to difference
Increase in production for automobiles and construction machinery
Increase in production for automobiles and construction machinery
Rising steel prices and increase in mold sales
Decrease due to discontinued production of models for some customers
Decrease in production for exports
Decrease due to falling steel prices
Decrease in production continued due to sluggish Chinese market
USD
THB
RMB
SEK
FY22
122.41
3.69
19.25
13.25
FY23
133.54
3.92
19.42
12.90
3
Sales by Products
Millions of Yen
FY2022
FY2023
Difference
1Q
Ratio
1Q
Ratio
Large Truck
7,399
17.5%
8,558
16.7%
+1,159
+15.7%
Parts
Small Truck
25,948
61.3%
32,827
64.1%
+6,879
+26.5%
Parts
Construction
7,381
17.5%
8,434
16.5%
+1,054
+14.3%
Machinery Parts
Others
1,559
3.7%
1,384
2.8%
△175
△11.2%
Total
42,287
-
51,203
-
+8,916
+21.1%
Year-on-year increase for all products due to improvement in component shortages ■ Large Truck Parts: Increase in production at Press Kogyo
■ Small Truck Parts: Mainly rising steel prices and increase in mold sales in Thailand
■ Construction Machinery Parts: Increase in production at Press Kogyo and domestic subsidiaries
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Disclaimer
Press Kogyo Co. Ltd. published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 07:17:04 UTC.
PRESS KOGYO CO., LTD. is a Japan-based company primarily engaged in the manufacture of automotive parts and construction machinery. The Company operates in two business segments. The Automobile-related segment is involved in the manufacture and sale of automotive parts, automotive assembly and automobile molds. The Construction Machinery segment is engaged in the manufacture and sale of construction machinery parts. The Company is also engaged in manufacture and sale of building-related parts and multi-story parking equipment. The main products include chassis frame, completed vehicle assembly, side cover, transmission cover, under cover, front bumper, front pillar inner, mold & automation equipment axle, motorcycle garage, cabin for construction machinery, and among others.