TBK : FY2023 FINANCIAL RESULTS BRIEFING

FINANCIAL

RESULTS BRIEFING

• Fiscal Years Ended March 31, 2024 ）

June 3, 2024

TBK Co., Ltd.

（Stock Code：7277）

Challenge to the future～未来への挑戦～

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Agenda

Ⅰ . Financial Results for the Fiscal Year Ended March 31, 2024

Ⅱ. Forecast for the Fiscal Year Ended March 31, 2025

Ⅲ. Progress of the 15th Mid-Term Business Plan

【Speakers】

CEO：Kaoru Ogata

Managing Executive Officer：Masato Kobayashi

General Manager of Business Planning Division：Kentaro Sasaki

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Ⅰ . Financial Results for the

Fiscal Year Ended March 31, 2024

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（1） Summary of consolidated statements of income

		(Unit：100 million yen)	（Reference）
FY2023	FY2022	Changes	FY2021

Net Sales

Operating Income

Ordinary Income

Net Income

566.5		535.2
9.0	1.6%		▲6.2 ▲1.2%
8.4	1.5%		▲6.2 ▲1.2%
3.3	0.6%		▲20.6 ▲3.8%

31.3 5.9%

15.2 ー

14.6 ー

23.9 ー

511.9

5.9 1.2%

12.3 2.4%

7.8 1.5%

《Exchange Rate》		FY2023			FY2022		Changes		FY2021
THB	4.11	3.84	7.0%		3.44
INR		1.75			1.69	3.6%		1.51
HKD		17.97			16.81	6.9%		14.14
CNY		19.83			19.50	1.7%		17.04
USD		140.67			131.63	6.9%		109.91

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（2） Net sales and operating profit by region

(Unit：100 million yen)

（Reference）

Japan

Asia

China

North

America

Adjustment

Total

FY2023		FY2022
Net Sales	Operating Income Net Sales	Operating Income
297.2	1.5	0.5%	295.3	▲4.2 ▲1.4%
192.4	10.0	5.2%	177.7	9.3	5.2%
35.1	▲0.6 ▲1.7%	20.0	▲7.2 ▲36.0%
41.7	▲0.3 ▲0.7%	42.1	▲4.4 ▲10.5%
	▲1.4			0.3
566.5	9.0	1.6%	535.2	▲6.2 ▲1.2%

Changes
Net Sales	Operating
Income

1. 5.7

1. 0.7

1. 6.6

▲0.4	4.1
	▲1.7

31.3 15.2

FY2021

Net Sales Operating Income

284.8 3.0 1.1%

1. 8.8 5.7%

1. 0.1 0.3%

1. ▲6.0 ▲18.1%
   0.0

1. 5.9 1.2%

・Japan ・Asia ・China

・North America

：The Japan segment has achieved profitability through price adjustments and etc.

：In Thailand, the decline in demand due to rising interest rates and inflation was offset by the expansion of new sales, while the profit margin was maintained due to the favorable Indian market

：Efforts to rationalize material costs have led to significant improvements, but the situation remains unclear

：Although the deficit was reduced through continued rationalization measures in logistics and material costs, the interest burden increased

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（3） Net sales by product

(Unit：100 million yen)

（Reference）

Brakes

Pumps

Engine Parts

Other

Sub Total

Total

FY2023
	Asia/China
Japan	/North
	America

1. 65.4

1. 124.8

1. 71.1

1. 8.1

1. 269.3
   566.5

FY2022
	Asia/China
Japan	/North
	America

1. 54.8
2. 117.6

1. 61.1

1. 6.3

1. 239.9
   535.2

Changes	FY2021
	Asia/China		Asia/China
Japan	/North	Japan	/North
	America		America

1. 10.6 128.062.4 ▲12.5 7.2 116.192.8 ▲0.7 10.0 17.3 64.2

1. 1.8 23.4 7.6

1.9 29.4 284.8 227.1

31.3

511.9

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（4) Fluctuation factors in consolidated ordinary profit

(Unit：100 million yen)

・Increased in sales excluding effects of currency translation and effects of selling prices

・Continuation of urgent countermeasures and rationalization

・ Domestic investment reduction

・Peaked energy cost surcharges and effect of rising base prices

• Effects of improving conditions on the materials market

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（5）Consolidated quarterly net sales and ordinary profit trends

Net Sales

FY2023

FY2022

FY2021

Ordinary

Profit

8.7

133	144
133	139
129
123

(Unit：100 million yen)

142148

134	139
125	126

Operating

Profit

6.0 5.1

4.3

3.3 3.0

	0.5		0.6	1.2
1st quarter	2nd quarter	3rd quarter		4th quarter
▲0.2		▲0.9 ▲1.4
	▲2.4		▲2.2

FY2021 FY2022 FY2023

	3.0
	2.0			1.8
				0.0
1st quarter	2nd quarter		3rd quarter	4th quarter
▲0.9			▲0.2 ▲0.0
			▲1.8
▲3.4	▲2.9
	FY2021	FY2022	FY2023

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（6） Summary of consolidated statements of cash flow

	Cash and cash equivalents at March		39
	31, 2023
	Cash flow from operating activities					＋31
	Cash flow from investing activities						▲25
	Free cash flow				＋6
	Cash flow from financing activities					▲3
	Cash and cash equivalents at Sep		42
	31, 2023
	0	10	20	30	40	50	60	70	80

(Unit：100 million yen)

Operating activities CF

Profit (loss) before income taxes ＋11 Depreciation＋31

Investing activities CF

Purchase of property, plant and equipment ▲35

Proceeds from sale of investment securities +6

Insurance received +3.5

Financing activities CF

Interest-bearing debt▲1.5 Dividends ▲1.5

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（7） Summary of consolidated balance sheets

			FY2023		FY2022		Changes
	Current Assets	290.7	261.0	29.7
	Non Current Assets		274.6		260.7		13.9
Total Assets	565.3	521.7	43.6
	Current liabilities	208.8	186.2	22.6
	Non Current liabilities		62.9		60.2		2.7
Total liabilities	271.7	246.5	25.2
	Shareholders' Equity	231.8	229.6	2.2
	Accumulated other	54.1	39.4	14.7
	comprehensive income
	Non-controlling interest		7.4		6.2		1.2
Total net assets	293.5	275.2	18.3
Total liabilities and net assets	565.3	521.7	43.6

(Unit：100 million yen)

Notes receivable-trade＋10 Accounts receivable-trade＋10 Inventories +9

Construction in progress ▲18

Machinery and buildings＋27

Securities +3

Accounts payable-trade＋16

Short-term borrowings ＋5

Valuation difference on available- for-sale-securities +4

Foreign currency translation adjustment +9

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