Yasunaga Corporation Business Report FY ended Mar. 2015
Financial Overview |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | Rate of Change (%) |
Factors | |
| Overall | ||||
| Sales | 29,605 | 31,439 | (5.8) | - |
| Operating income | 150 | 614 | (75.6) | - |
| Ordinary income | 339 | 680 | (50.1) | - |
| Net income | 86 | 375 | (77.1) | - |
| Engine components business | ||||
| Sales | 20,159 | 22,565 | (10.7) | -A consumption-tax increase in Japan hampered sales, and product sales to major, overseas customers decreased. |
| Operating profit | (185) | 656 | - | -Initial expenses incurred to launch a production plant overseas negatively affected performance. |
Recent Development outside Japan
-The Company announced that it will establish a new subsidiary to manufacture and sell engine parts and machine tools in Jalisco, Mexico in July 2015. Capitalized at MXN 80 million (approximately JPY 640 million), the new company will be tentatively called Yasunaga Mexico S.A. de C.V. It will cover a land area of approximately 30,000 square meters. Operations are expected to start around the summer of 2018. (From a press release on May 14, 2015)
-In January 2015, the Company's subsidiary, Yasunaga (Thailand) Co., Ltd., launched production of conrods. It currently is operating three production lines, while getting two more production lines ready to start operations.
Mid-term Management Plan (FY ending Mar. 2015 - FY ending Mar. 2017)
| Sales | Operating income | Operating profit margin (%) |
|
| Overall | 34,000 | 1,020 | 3.0 |
| -Engine components business | 21,900 | 170 | 0.8 |
Strengthening production structure to support customers' operations
-The engine components division will step up its marketing efforts by focusing on its "5C" products, namely, connecting rods, cylinder heads, cylinder blocks, cam shafts, and crankshafts.
-The Company aims to become the No.1 supplier of connecting rods by utilizing its overseas production bases in other Asian countries.
R&D Expenditure |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| Overall | 457 | 499 | 542 |
Capital Expenditure |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| Overall | 2,741 | 5,829 | 2,667 |
| -Engine components business | 2,375 | 5,718 | 2,223 |
Engine components business
-The Company invested in new production equipment and buildings at the Saimyoji Plant, Yasunaga (Thailand) Co., Ltd., P.T. Yasunaga Indonesia and Yasunaga Korea Co., Ltd. in order to win new orders and expand business.
Planned Capital Investments (Engine components business related) |
(As of Mar. 31, 2015) |
| Plant (Location) |
Purpose | Planned investment (in million JPY) |
Start | Planned completion | Increased capacity upon completion |
| Yumeporisu Plant (Mie Pref., Japan) |
Engine Components Production facilities | 1,495 | Apr. 2012 | May 2015 | 27% increase in production capacity |
| Saimyoji factory (Mie Pref., Japan) |
Engine Components Production facilities | 791 | Sep. 2014 | Jan. 2017 | 8% increase in production capacity |
| Yasunaga (Thailand) Co., Ltd. (Rayong, Thailand) |
Engine Components Production facilities | 429 | Dec. 2014 | Sep. 2015 | - |
| Engine Components Production facilities | 319 | Oct. 2014 | May 2016 | - | |
| Yasunaga Korea Co., Ltd. (Jeollabuk-do, Korea) |
Engine Components Production facilities | 596 | Oct. 2012 | Jul. 2015 | - |
Data
| Segment | Mar. 2015 | Mar. 2014 | Mar. 2013 |
| Engine components | 1,030 | 1,011 | 1,016 |
| Machinery and equipment | 240 | 240 | 253 |
| Environmental equipment | 193 | 183 | 155 |
| Others | 90 | 92 | 88 |
| Corporate (In common) | 69 | 60 | 57 |
| Total | 1,622 | 1,586 | 1,569 |
Sales by Segment |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | ||||
| Sales | Operating income |
Sales | Operating income |
Sales | Operating income |
|
| Engine components | 20,159 | (185) | 22,565 | 656 | 25,674 | 1,362 |
| Machinery and equipment | 5,474 | 127 | 5,405 | (70) | 5,077 | (1,863) |
| Environmental equipment | 3,595 | 216 | 3,093 | 94 | 2,871 | 117 |
| Others | 375 | 31 | 375 | 11 | 342 | 28 |
| Adjusted amounts | - | (39) | - | (78) | - | 22 |
| Total | 29,605 | 150 | 31,439 | 614 | 33,966 | (332) |
Sales by Geographic Area |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| Japan | 19,741 | 19,733 | 21,359 |
| Asia | 5,679 | 7,202 | 8,144 |
| North America | 3,434 | 3,771 | 3,764 |
| Other | 750 | 731 | 698 |
| Total | 29,605 | 31,439 | 33,966 |
(Notes) Sales data is based on the locations of the Company's customers, being classified by country.
Consolidated |
| FY ended Mar. 31, 2011 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2013 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2015 | |
| Sales (million yen) | 36,445 | 36,314 | 33,966 | 31,439 | 29,605 |
| Income from ordinary business activities (million yen) | 2,494 | 1,055 | (275) | 680 | 339 |
| Net income (million yen) | 1,728 | 882 | (524) | 375 | 86 |
| Comprehensive income (million yen) | 1,704 | 772 | (252) | 616 | 1,001 |
| Net assets (million yen) | 10,428 | 10,937 | 10,529 | 10,920 | 11,917 |
| Total assets (million yen) | 28,211 | 30,397 | 29,768 | 31,965 | 32,285 |
| Book value per share (yen) | 871.67 | 914.27 | 880.12 | 912.83 | 996.10 |
| EPS (yen) | 144.47 | 73.78 | (43.82) | 31.35 | 7.26 |
| Diluted EPS (yen) | - | - | - | - | - |
| Net asset ratio (%) | 37.0 | 36.0 | 35.4 | 34.2 | 36.9 |
| ROE (%) | 17.9 | 8.3 | (4.9) | 3.5 | 0.8 |
| PER | 6.5 | 8.4 | - | 15.0 | 85.2 |
| Cash flow from operating activity (million yen) | 6,092 | (97) | 1,770 | 4,512 | 940 |
| Cash flow from invest (million yen) | (1,973) | (3,396) | (2,365) | (5,368) | (3,179) |
| Cash flow from financial activity (million yen) | (3,424) | 3,366 | 682 | 1,235 | 1,026 |
| Balance of cash and cash equivalents (million yen) | 3,867 | 3,649 | 3,764 | 4,240 | 3,104 |
| Number of employees | 1,442 | 1,520 | 1,569 | 1,586 | 1,622 |
Non Consolidated
| FY ended Mar. 31, 2011 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2013 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2015 | |
| Sales (million yen) | 32,230 | 32,314 | 28,768 | 27,259 | 22,608 |
| Income from ordinary business activities (million yen) | 2,109 | 822 | (953) | 645 | 344 |
| Net income (million yen) | 1,375 | 774 | (981) | 453 | 55 |
| Paid-in Capital (million yen) | 2,142 | 2,142 | 2,142 | 2,142 | 2,142 |
| Number of shares outstanding (thousand) | 12,938 | 12,938 | 12,938 | 12,938 | 12,938 |
| Net assets (million yen) | 10,248 | 10,768 | 9,717 | 10,077 | 10,203 |
| Total assets (million yen) | 27,108 | 29,411 | 27,733 | 29,132 | 27,499 |
| Book value per share (yen) | 856.67 | 900.12 | 812.29 | 842.39 | 852.92 |
| Dividend per share (yen) | 20.00 | 18.00 | 9.00 | 10.00 | 10.00 |
| EPS (yen) | 115.00 | 64.77 | (82.08) | 37.93 | 4.68 |
| Diluted EPS (yen) | - | - | - | - | - |
| Net asset ratio (%) | 37.8 | 36.6 | 35.0 | 34.6 | 37.1 |
| ROE (%) | 14.3 | 7.4 | (9.6) | 4.6 | 0.6 |
| PER | 8.2 | 9.6 | - | 12.4 | 132.3 |
| Payout ratio (%) | 17.4 | 27.8 | - | 26.4 | 213.71 |
| Number of employees | 733 | 745 | 740 | 701 | 677 |