today's explanation contents · 2018. 5. 25. · today's explanation contents 1. greeting...
TRANSCRIPT
Copyright 2018 Taikisha Ltd., All Rights Reserved.
FY2017 Financial Results Briefing
May 18,2018
This photo shows the world heritage of Vietnam with our overseas affiliate.It is a Ha Long Bay.
Copyright 2018 Taikisha Ltd., All Rights Reserved.
Today's explanation contents
1. GreetingRepresentative Director, President Corporate Officer
Toshiaki Shiba
2. Explanation about the settlement of accounts
Managing Corporate Officer, Chief Executive, Administrative Management Headquarters
Masanori Nakagawa
3. Questions and answers
Copyright 2018 Taikisha Ltd., All Rights Reserved. 3
1.Achievements in FY2017
2.Earnings Forecast for FY2018
3.Priority issues in FY2018
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Consolidated performance
Orders-received and Sales: Favorable industrial HVAC business in Japan contributed to the increase in orders and sales greatly.Ordinary income: The impact of the unprofitable project in the Paint finishing business in the first half was compensated for favorable industrial HVAC business in Japan due to its significant increase of orders-received and sales.
Achievements in FY20171
(Hundred millions of yen)Original
expectationResults ofFY2017 Difference
Orders-received 2,046 2,198 152
2,132 2,318 186
123 130 7(Ratio) 5.8% 5.6% -0.1%
71 72 1
(Ratio) 3.3% 3.1% -0.2%
Profit attributable toowners of parent
Net sales of completedconstruction contracts
Ordinary income
Copyright 2018 Taikisha Ltd., All Rights Reserved. 5
Aim to achieve targets of the Mid-Term Business Plan by promoting the “Priority issues in FY2018”.
Earnings Forecast for FY20182Consolidated performance
(Hundred millions of yen)
FY2018(Mid-Term
Bussiness Plan)a
FY2017(Results)
b
FY2018(Expectation)
c
Differencec-a
Differencec-b
Orders-received 2,130 2,198 2,150 20 -48
2,081 2,318 2,200 119 -118
130 130 130 0 0
(Ratio) 6.2% 5.6% 5.9% -0.3% 0.3%
75 72 75 0 2
(Ratio) 3.6% 3.1% 3.4% -0.2% 0.3%
Profit attributable toowners of parent
Net sales of completedconstruction contracts
Ordinary income
Copyright 2018 Taikisha Ltd., All Rights Reserved.
① Business in Japan• Promote “keeping existing customers and developing new customers”
by further reducing costs and technology proposal activities aiming at “securing stable orders-received”.
② Business overseas• Expand orders-received from local companies and European and U.S
companies.• Improve management and business structure of overseas affiliates
according to changes in business environment.
③ New Business / Peripheral Business• Strengthen plant factory business and environmental business.
6
Priority issues in FY2018Green Technology System Division 3
Copyright 2018 Taikisha Ltd., All Rights Reserved. 7
Priority issues in FY2018Paint Finishing System Division3
① Business overseas• Strengthen the governance system for overseas affiliates.
② Strengthen technological capabilities in the existing business• Respond to the further advanced needs of customers in the paint
finishing system for automobiles.
③ New Business• Establish Taikisha-brand by expanding automated system in the paint
finishing system for aircraft and railway cars, etc.• Establish the Integrated Development Center.
④ Further strengthen the alliances with Geico S.p.A and Encore Automation LLC
• Promote business development to European and U.S companies by reinforcing synergy with Geico and Encore.
Copyright 2018 Taikisha Ltd., All Rights Reserved. 8
Priority issues in FY20183【Respond with Work Style Reform】
Reducing the work load of on-site operations is the top priority
① Secure manpower
② Enhance support by assistant teams aiming at leveling the work load of on-site operations.
③ Utilize outsource, IT and system support for construction site support.
【Strengthen management base】
① Develop human resource• Introduce a new personnel system and strengthen skill enhancement
support of employees.
② Strategic investment to strengthen the business base• Introduce a new core system.
Copyright 2018 Taikisha Ltd., All Rights Reserved. 9
Explanation about FY2017
① Highlight of FY2017 ④ Main projects in Order/ Sales / Carried forward
② Results of Green Technology System Division
⑤ Earnings Forecast for FY2018
③ Results of Paint Finishing System Division
⑥ Shareholders Returns
1. The mention numerical value is in principle consolidated basis. In the case of non-consolidated basis, it is noted on the title of the page.
2. Achievements numerical value is in principle a business amount of money for the external customers. Only about operating income and ordinary income according to the segment, it becomes the numerical value including the intersegment turnover.
3. The forecasted figures are based on available information as of the date of this announcement. It includes economic trends, intense competition in the industry, market demand, exchange rate, reforms of the tax system and various systems, and various other risks and uncertainties. Therefore, please note that actual results may differ from our expectations.
Copyright 2018 Taikisha Ltd., All Rights Reserved. 10
Highlight of FY20171
2018.3results
Paint(Overseas)
Industrial(Overseas)
Industrial(Japan)
Building
Paint(Japan)
Component
610(27.8%)
405(18.4%)
436(19.8%)
633(28.8%)
113(5.1%)
2017.3results
(Green Technology System Division)• In the Industrial HVAC business in Japan, orders-received from the field of Electronic
and electrical product manufacturing factory increased significantly. (Paint Finishing System Division)
• A reactionary fall after the large-scale project in North America in the previous fiscal year.
Paint(Overseas)
Industrial(Overseas)
Industrial(Japan)
Building
Paint(Japan)
746(34.2%)
354(16.2%)
487(22.3%)
462 (21.2%)
132(6.1%)
1-①. Orders-received by Division (previous year comparison)
(Hundred millions of yen)2017.3 2018.3 Change
Orders-received 2,183 2,198 15(Japan) (1,082) (1,182) (99)(Overseas) (1,100) (1,015) (-84)
Green Technology 1,304 1,475 170Building HVAC 487 436 -51Industrial HVAC 816 1,038 222(Japan) (462) (633) (171)(Overseas) (354) (405) (51)Paint Finishing 878 723 -155(Japan) (132) (113) (-19)(Overseas) (746) (610) (-135)
Copyright 2018 Taikisha Ltd., All Rights Reserved. 11
Original expectation
599(29.3%)
393 (19.2%)
527(25.8%)
Paint(Overseas)
Industrial(Overseas)
Highlight of FY20171
Component
383(18.7%)
Industrial(Japan)
Building
Paint(Japan)
144(7.0%)
(Green Technology System Division)• Industrial HVAC business in Japan significantly exceeded original forecasts.
2018.3results
Paint(Overseas)
Industrial(Overseas)
Industrial(Japan)
Building
Paint(Japan)
610(27.8%)
405(18.4%)
436(19.8%)
633(28.8%)
113(5.1%)
1-②. Orders-received by Division (Expected comparison)
(Hundred millions of yen)Original
expectationResults ofFY2017 Difference
Orders-received 2,046 2,198 152(Japan) (1,054) (1,182) (128)(Overseas) (992) (1,015) (23)
Green Technology 1,303 1,475 172Building HVAC 527 436 -90Industrial HVAC 776 1,038 262(Japan) (383) (633) (250)(Overseas) (393) (405) (12)Paint Finishing 743 723 -19(Japan) (144) (113) (-31)(Overseas) (599) (610) (11)
Copyright 2018 Taikisha Ltd., All Rights Reserved.
621(31.0%)
366(18.3%)
440(22.0%)
138(6.9%)
438(21.9%)
12
Highlight of FY20171
Component
Paint(Overseas)
Industrial(Overseas)
Industrial(Japan)
Building
Paint(Japan)
Paint(Overseas)
Industrial(Overseas)
Industrial(Japan)
Building
Paint(Japan)
2018.3results
2017.3results
(Green Technology System Division)• In the Industrial HVAC business in Japan, sales also increased due to impact of
favorable orders-received.(Paint Finishing System Division)
• Increased due to a large-scale automobile painting project by Geico and North American affiliate.
789(34.1%)
371(16.0%)
458(19.8%)
569(24.5%)129
(5.6%)
2-①. Sales by Division (previous year comparison)
(Hundred millions of yen)2017.3 2018.3 Change
2,006 2,318 312
(Japan) (1,017) (1,157) (139)(Overseas) (988) (1,161) (173)
Green Technology 1,245 1,399 153Building HVAC 438 458 19Industrial HVAC 807 940 133(Japan) (440) (569) (128)(Overseas) (366) (371) (5)Paint Finishing 760 919 159(Japan) (138) (129) (-8)(Overseas) (621) (789) (167)
Net sales of completedconstruction contracts
Copyright 2018 Taikisha Ltd., All Rights Reserved. 13
Highlight of FY20171
Component
704(33.0%)
387(18.2%)
478(22.4%)
430(20.2%)133
(6.2%)
Paint(Overseas)
Industrial(Overseas)
Industrial(Japan)
Building
Paint(Japan)
Original expectation
Paint(Overseas)
Industrial(Overseas)
Industrial(Japan)
Building
Paint(Japan)
2018.3results
789(34.1%)
371(16.0%)
458(19.8%)
569(24.5%)129
(5.6%)
2-②. Sales by Division (Expected comparison)
(Hundred millions of yen)Original
expectationResults ofFY2017 Difference
2,132 2,318 186
(Japan) (1,041) (1,157) (116)(Overseas) (1,091) (1,161) (70)
Green Technology 1,295 1,399 104Building HVAC 478 458 -19Industrial HVAC 817 940 123(Japan) (430) (569) (139)(Overseas) (387) (371) (-15)Paint Finishing 837 919 82(Japan) (133) (129) (-3)(Overseas) (704) (789) (85)
Net sales of completedconstruction contracts
(Green Technology System Division)• In the industrial HVAC business in Japan, sales also exceeded forecasts on the
grounds that its orders-received exceeded original forecasts.
Copyright 2018 Taikisha Ltd., All Rights Reserved. 14
Highlight of FY20171
3-①. Profit by Division (previous year comparison)(Hundred millions of yen)
2017.3 2018.3 ChangeOperating income 84 121 37(Ratio) 4.2% 5.3% 1.0%
Green Technology 97 115 18(Ratio) 7.8% 8.3% 0.5%Paint Finishing -10 9 19(Ratio) -1.3% 1.1% 2.4%
Ordinary income 98 130 32(Ratio) 4.9% 5.6% 0.7%
Green Technology 99 118 19(Ratio) 8.0% 8.5% 0.5%Paint Finishing -1 11 12(Ratio) -0.2% 1.3% 1.4%
(Green Technology System Division)• Significant increase of orders-received and sales in the industrial HVAC business in
Japan contributed to the increase in profit. (Paint Finishing System Division)• Affected by the profit deterioration of the project in the U.S from the end of FY2016
to the first half of FY2017.
Copyright 2018 Taikisha Ltd., All Rights Reserved. 15
Highlight of FY20171
3-②. Profit by Division (Expected comparison)
(Hundred millions of yen)Original
expectationA
*Newexpectation
B
ResultsC
DifferenceC-A
DifferenceC-B
Operating income 117 117 121 4 4(Ratio) 5.5% 5.5% 5.3% -0.2% -0.2%
Green Technology 98 113 115 17 2(Ratio) 7.6% 8.8% 8.3% 0.7% -0.5%Paint Finishing 27 9 9 -17 0(Ratio) 3.2% 1.1% 1.1% -2.2% 0.0%
Ordinary income 123 123 130 7 7(Ratio) 5.8% 5.8% 5.6% -0.1% -0.1%
Green Technology 100 116 118 18 2(Ratio) 7.7% 9.0% 8.5% 0.8% -0.5%Paint Finishing 28 8 11 -16 3(Ratio) 3.3% 1.0% 1.3% -2.1% 0.3%
*The earnings forecast was revised in the 2Q• The impact of the unprofitable project in the Paint finishing business in the first half was
compensated for favorable industrial HVAC business in Japan due to its significant increase of orders-received and sales.
Copyright 2018 Taikisha Ltd., All Rights Reserved. 16
Highlight of FY20171
2,124 2,006
2,318
15.3%14.0% 14.1%
6.0%
4.2%5.3%
5.8%4.9% 5.6%
7.6%6.8% 7.2%
0%
5%
10%
15%
20%
0
500
1,000
1,500
2,000
2,500
2016.3 2017.3 2018.3SalesGross profit on completed construction contracts ratio (%)Operating income ratio (%)Ordinary income ratio (%)ROE(%)
4. Consolidated Income Statements
(Hundred millions of yen)(Hundred millions of yen)
2016.3 2017.3 2018.3
2,124 2,006 2,318
325 281 327
(Ratio) 15.3% 14.0% 14.1%
198 196 205
(Ratio) 9.3% 9.8% 8.9%Operating income 127 84 121(Ratio) 6.0% 4.2% 5.3%Ordinary income 123 98 130(Ratio) 5.8% 4.9% 5.6%
70 63 72
(Ratio) 3.3% 3.1% 3.1%ROE 7.6% 6.8% 7.2%
Profit attributable toowners of parent
Net sales of completedconstruction contractsGross profit on completedconstruction contracts
Selling, general andadministrative expenses
Copyright 2018 Taikisha Ltd., All Rights Reserved. 17
Highlight of FY20171
2017.3 2017.3 2018.32016.3 2016.32018.3
Green Technology System Division Paint Finishing System Division
1,348 1,245
1,399
89 99
118
0
20
40
60
80
100
120
0
300
600
900
1,200
1,500
6.6% 8.0% 8.5%
776 760 919
35
-1
11
‐20
0
20
40
60
80
100
(300)
0
300
600
900
1,200
1,500 4.5%-0.2%
1.3%
Sales Ordinary income ― Ordinary income ratio
(Hundred millions of yen)
5. Net sales of completed construction contracts / Ordinary income by Division
Copyright 2018 Taikisha Ltd., All Rights Reserved. 18
Highlight of FY20171
Building
Industrial(Overseas)
Industrial(Japan) Paint(Overseas)
Paint(Japan)
775 746 610
115 132 113
428 354 405
461 462 633
437 487 436
0
500
1,000
1,500
2,000
2,500
2016.3 2017.3 2018.3
662 621 789
113 138 129
515 366 371
396440
569
436438
458
0
500
1,000
1,500
2,000
2,500
2016.3 2017.3 2018.3
621 683 513
71 66 49
226 188 230
190 212276
495 544 522
0
500
1,000
1,500
2,000
2,500
2016.3 2017.3 2018.3
1,6941,606
2,1982,217 2,183
19.8%
18.4%
28.8%
27.8%
5.1%
22.3%
16.2%
21.2%
34.2%
6.1%
19.7%
19.3%
20.8%
35.0%
5.2%
2,124 2,006
21.9%
18.3%
22.0%
31.0%
6.9%
20.5%
24.3%
18.7%
31.2%
5.3%
32.1%
11.1%12.5%
40.3%
3.9%
30.9%
14.1%
11.8%
38.7%
4.5%
19.8%
16.0%
24.5%
34.1%
5.6%
32.8%
14.5%
17.4%
32.2%
3.1%
2,318
1,592
6. Orders-received / Net sales of completed construction contracts / Construction carried forward
(Hundred millions of yen)
Orders-received Sales Carried forward
Copyright 2018 Taikisha Ltd., All Rights Reserved.
55.5% 49.3% 50.1%
19
1178 988 1161
9451017
1157
0
400
800
1,200
1,600
2,000
2,400
2016.3 2017.3 2018.3
115 289 419 216 175
224 341 206
200 230 152 110
173 84
100 85
65 81
14
13
23
0
200
400
600
800
1,000
1,200
1,400
2016.3 2017.3 2018.3North America Other Southeast AsiaThailand ChinaOthers IndiaOther East Asia
2,318 1,1782,124 1,1612,006
Highlight of FY20171
988
7. Overseas net sales of completed construction contracts by Region
(Hundred millions of yen)
OverseasJapan ― Overseas ratio
●Main countries and regions ※The numerical value does not include the internal trading.・Other Southeast Asia -- Singapore, Malaysia, Indonesia, Philippines, Vietnam, others・Other East Asia --Taiwan, Korea ・North America --USA, Canada, Mexico ・Others -- Russia, South America, others
Copyright 2018 Taikisha Ltd., All Rights Reserved. 20
Highlight of FY20171
101178 196
050
100150200250300350
2016.3 2017.3 2018.3
178
29 15 24
102 90 67
050
100150200250300350
2016.3 2017.3 2018.3
106271185 154
69
1935
050
100150200250300350
2016.3 2017.3 2018.3
205
91131
190
341
196
101
1 5 352 45 510
50100150200250300350
2016.3 2017.3 2018.3
51
8 8 7
155 186 310
050
100150200250300350
2016.3 2017.3 2018.3
194
318
54 55
164
8. Sales of overseas main five companies(Hundred millions of yen)
Wu-Zhou Taikisha Engineering Co., Ltd. Group(China)
Taikisha (Thailand) Co.,Ltd. Group(Thailand)
TKS Industrial Company Group (USA)
Taikisha Engineering India Private Ltd.(India)
Geico S.p.A. Group(Italy)
Paint Finishing System
Industrial HVAC
The numerical value does not include the internal trading.
Copyright 2018 Taikisha Ltd., All Rights Reserved. 21
Highlight of FY20171
(Hundred millions of yen)9. Consolidated Balance Sheet
2017.3 2018.3 Change1,529 1,611 82
Cash and deposits 422 471 48Notes receivable, Accountsreceivable from completedconstruction contracts and other
1,009 1,0199
Securities 0 - -0Costs on uncompletedconstruction contracts・ Rawmaterials and supplies
22 24 2
Other 78 101 22Allowance for doubtful accounts -4 -5 -0
461 558 96Property, plant and equipment 127 155 28Investment securities 256 307 50Other 77 95 17Allowance for doubtful accounts -0 -0 -0
1,990 2,169 179
Non-current assets
Total assets
Current assets
2017.3 2018.3 Change886 937 51
Notes payable, accounts payablefor construction contracts andother
552 605 53
Advances received onuncompleted constructioncontracts
155 118-36
Provision for loss on constructioncontracts
7 4 -3
Other 169 208 38102 125 23988 1,063 74
1,001 1,106 104Capital stock 64 64 0Capital surplus ・ Retainedearnings
852 859 7
Treasury shares, at cost -61 -24 36Valuation difference on available-for-sale securities
99 132 32
Deferred gains or losses onhedges
-1 0 1
Foreign currency translationadjustment
3 11 7
Accumulated remeasurements ofdefined benefit plans
-0 8 8
Non-controlling interests 44 54 101,990 2,169 179
Current liabilities
Non-current liabilities
Total liabilities and net assets
Total liabilitiesTotal net assets
Copyright 2018 Taikisha Ltd., All Rights Reserved.
428 354 405
461462
633
437 487
436
0
300
600
900
1,200
1,500
2016.3 2017.3 2018.3
32.3% 27.2% 27.5%
22
38.3%29.4% 26.6%
2
1,4751,327 1,304
29.6%
42.9%
27.5%
37.4%
35.5%
27.2%
32.9%
34.7%
32.3% 515 366 371
396440
569
436438
458
0
300
600
900
1,200
1,500
2016.3 2017.3 2018.3
1,3481,245
35.2%
35.4%
29.4%
32.3%
38.3%
29.4%
(Hundred millions of yen)
1,399
32.8%
40.7%
26.6%
1. Orders-received / Net sales of completed construction contracts
Orders-received Sales
― Overseas ratioBuilding HVAC Industrial HVAC (Overseas)Industrial HVAC (Japan)
Results of Green Technology System Division
Copyright 2018 Taikisha Ltd., All Rights Reserved. 23
221 230
140
6335 40 41
86 68
450
261
8733 28 24 21
74 67
0
100
200
300
400
500
600
7002017.3
2018.3
2
Others(Building HVAC)
Others(Industrial HVAC)
(Hundred millions of yen)
Results of Green Technology System Division
Electronic and electrical
industry
Office building
Pharmacy Medical and social
welfare
Food, fisheries
Culture, entertainment,
religion
Commercial
2. Order of the market classification(Non-consolidated)
Copyright 2018 Taikisha Ltd., All Rights Reserved. 24
331263
161
4776 63 40
259
60
599
307
11243 36 36 24
245
68
0
100
200
300
400
500
600
7002017.3
2018.3
2
Uncategorized orders-
received by small-scale
affiliates
(Hundred millions of yen)
Results of Green Technology System Division
3. Order of the market classification(Consolidated)
Electronic and electrical
industry
Office building
Pharmacy Food, fisheries
Medical and social
welfare
OthersCommercial facility
culture, entertainment,
religion
Copyright 2018 Taikisha Ltd., All Rights Reserved. 25
287 245 271
149 193 187
382 392 366
530415 574
0
200
400
600
800
1,000
1,200
259 307 223
178180
213
407 403 372
482413
666
0
200
400
600
800
1,000
1,200
2
437
54%
889
2018.32016.3 2017.32018.32016.3 2017.3
912
436
58%
34%
436
1,038
41%
64%
49%
487
816
438
807
37%
51%
44%
51%
(Hundred millions of yen)
458
940
61%
41%
Results of Green Technology System Division
4. Renewal construction(Consolidated)
Orders-received Sales (%: Renewal ratio)
Building HVAC(Renewal) Industrial HVAC(Renewal)
Building HVAC(New) Industrial HVAC(New)
Copyright 2018 Taikisha Ltd., All Rights Reserved.
87.1%
84.9% 84.4%
26
3
775 746 610
115 132
113
0
200
400
600
800
1,000
2016.3 2017.3 2018.3
723
890 878
84.4%
15.6%
84.9%
15.1%
87.1%
12.9%
85.4%
81.8%
85.9%
662 621 789
113 138
129
0
200
400
600
800
1,000
2016.3 2017.3 2018.3
776 760
81.8%
18.2%
85.4%
14.6%
(Hundred millions of yen)
919
85.9%
14.1%
Results of Paint Finishing System Division
1. Orders-received / Net sales of completed construction contracts
SalesOrders-received
Paint Finishing (Overseas)Paint Finishing (Japan) ― Overseas ratio
Copyright 2018 Taikisha Ltd., All Rights Reserved. 27
309491
235
581387
488
0
200
400
600
800
1000
2016.3 2017.3 2018.3
34.8%56.0%
32.4%
890
3
723
878
(Hundred millions of yen)
Results of Paint Finishing System Division
2. Order ratio from non Japanese customers
Japanese customerNon Japanese customer
― Non Japanese ratio
*The order of the overseas Japanese-joint venture (including all of Japanese customer investment companies) is included in the total value of the Japanese customer.
Copyright 2018 Taikisha Ltd., All Rights Reserved. 28
4
Number of projects over 1 billion yen / construction, market classification
Orders-received
34 projects
739 hundred millions of yen
Japan348 hundred millions of yen
18projects
Office building 5Medical and social welfare 1Accommodation 1School, educational institution 1Electronic and electrical industry 7Automobile 2Other vehicle 1
Overseas391 hundred millions of yen
16projects
Office building 1Electronic and electrical industry 1Automobile 12Aircraft 1Railway 1
Main projects in Order/ Sales / Carried forward1. Order project more than 1 billion yen
Copyright 2018 Taikisha Ltd., All Rights Reserved. 29
4
Number of projects over 1 billion yen / construction, market classification
Sales
28 projects
816 hundred millions of yen
Japan257 hundred millions of yen
14projects
Office building 3Medical and social welfare 1Accommodation 1Electronic and electrical industry 5Pharmacy 1Automobile 2Aircraft 1
Overseas559 hundred millions of yen
14projects
Commercial 1Electronic and electrical industry 1Automobile 12
Main projects in Order/ Sales / Carried forward2. Sales project more than 1 billion yen
Copyright 2018 Taikisha Ltd., All Rights Reserved. 30
4
Number of projects over 1 billion yen / construction, market classification Planned project to be completed in FY2018
Carried forward
39 projects
857 hundred millions of
yen
Japan444 hundred
millions of yen
22projects
Office building 10 2Medical and social welfare 2 1School, educational institution 1 ーAccommodation 1 1Culture, entertainment 1 ーAdministrative facility 1 ーElectronic and electrical industry 4 4Automobile 1 ーOther 1 ー
Overseas412 hundred
millions of yen
17projects
Commercial 1 1Electronic and electrical industry 1 1Pharmacy 1 ーAutomobile 13 5Railway 1 ー
Main projects in Order/ Sales / Carried forward3. Carried forward project more than 1 billion yen
Copyright 2018 Taikisha Ltd., All Rights Reserved. 31
5
(Hundred millions of yen)
※ In the earnings forecast for FY2018, Influence when all exchange rates fluctuate by 1%⇒ Orders/Sales: Approximately 10 hundred millions of yen, Ordinary income: Approximately 0.5 hundred millions of yen
Earnings Forecast for FY2018
Earnings Forecast by Division※ Change in breakdown among segments in operating income and ordinary income(figures in parentheses are different from original forecasts)
② FY2017 Results:1US$=¥112.39, 1€=¥126.84, 1THB=¥3.31① FY2016 Results:1US$=¥110.30, 1€=¥121.41, 1THB=¥3.12 Effects of foreign exchange differences between ① and ② on
Sales : 32 hundred millions of yen, Ordinary income: -0.1 hundred millions of yen
③ FY2018 Estimation:1US$=¥105.00, 1€=¥130.00, 1THB=¥3.33
H1(E) H2(E) Total(E) H1(E) H2(E) Total(E) H1(E) H2(E) Total(E)
Orders 1,304 878 2,183 1,475 723 2,198 570 830 1,400 360 390 750 930 1,220 2,150
Sales 1,245 760 2,006 1,399 919 2,318 660 740 1,400 300 500 800 960 1,240 2,200
Operatingincome
97 -10 84 115 9 121 41 64 105 2 24 26 41 82 123
(ratio) 7.8% -1.3% 4.2% 8.3% 1.1% 5.3% 6.2% 8.6% 7.5% 0.7% 4.8% 3.3% 4.3% 6.6% 5.6%
Ordinaryincome 99 -1 98 118 11 130 43 64 107 3 24 27 46 84 130
(ratio) 8.0% -0.2% 4.9% 8.5% 1.3% 5.6% 6.5% 8.6% 7.6% 1.0% 4.8% 3.4% 4.8% 6.8% 5.9%
Netincome - - 63 - - 72 - - - - - - 28 47 75
(ratio) - - 3.1% - - 3.1% - - - - - - 2.9% 3.8% 3.4%
2017.3 2018.3 2019.3TotalGreen
TechnologyPaint
FinishingTotal Green
TechnologyPaint
FinishingTotal Green Technology Paint Finishing
Copyright 2018 Taikisha Ltd., All Rights Reserved. 32
Orders-received5
(Green Technology System Division)• In the building HVAC business, the situation with plentiful projects is likely to continue mainly in redevelopment in
central Tokyo in the current term as well as continuing from the previous fiscal year. • A reactionary fall is expected for industrial HVAC business in Japan due to substantial investments from the field of
Electronic and electrical product manufacturing factory in the previous fiscal year. However, investments from this field is likely to continue at a high level due to expectation of expansion of demand for IOT, AI, and automatic automobile system, etc. in the future.
• In the industrial HVAC business overseas, investments by Japanese customers will remain uncertain.(Paint Finishing System Division)• Demand for renewal in the U.S and expansion of investments in China and India are likely to continue actively.
Earnings Forecast for FY2018
(Hundred millions of yen)
FY2018(Mid-Term
Bussiness Plan)a
FY2017(Results)
b
FY2018(Expectation)
c
Differencec-a
Differencec-b
Orders-received 2,130 2,198 2,150 20 -48(Japan) (1,053) (1,182) (1,185) (132) (2)(Overseas) (1,077) (1,015) (965) (-112) (-50)
Green Technology 1,379 1,475 1,400 21 -75Building HVAC 534 436 530 -4 93Industrial HVAC 845 1,038 870 25 -168(Japan) (386) (633) (505) (119) (-128)(Overseas) (459) (405) (365) (-94) (-40)Paint Finishing 751 723 750 -1 26(Japan) (133) (113) (150) (17) (37)(Overseas) (618) (610) (600) (-18) (-10)
Copyright 2018 Taikisha Ltd., All Rights Reserved. 33
Sales5
(Paint Finishing System Division)• A reactionary fall is expected due to completion of two large-scale projects in
the U.S in the previous fiscal year.
Earnings Forecast for FY2018
(Hundred millions of yen)
FY2018(Mid-Term
Bussiness Plan)a
FY2017(Results)
b
FY2018(Expectation)
c
Differencec-a
Differencec-b
2,081 2,318 2,200 119 -118
(Japan) (1,038) (1,157) (1,131) (93) (-26)(Overseas) (1,043) (1,161) (1,069) (26) (-92)
Green Technology 1,319 1,399 1,400 81 0Building HVAC 423 458 470 47 11Industrial HVAC 896 940 930 34 -10(Japan) (447) (569) (546) (99) (-23)(Overseas) (449) (371) (384) (-65) (12)Paint Finishing 762 919 800 38 -119(Japan) (168) (129) (115) (-53) (-14)(Overseas) (594) (789) (685) (91) (-104)
Net sales of completedconstruction contracts
Copyright 2018 Taikisha Ltd., All Rights Reserved. 34
Profit5
( Company-level )• Costs will increase due to the expansion of investment including introduction of new personnel system and new
core system, etc.
(Green Technology System Division)• Fixed costs will increase due to the expansion of recruitment aiming at strengthening technological capabilities of
construction and responding to Work Style Reform in Japanese business.
(Paint Finishing System Division)• Profitability will remain difficult due to the tough competition environment in the Chinese markets and cost-increase
in the U.S markets, etc.• Increase due to recovery from losses caused by automobile painting project in the U.S in the previous fiscal year.
Earnings Forecast for FY2018
(Hundred millions of yen)FY2018(Mid-Term
Bussiness Plan)a
FY2017(Results)
b
FY2018(Expectation)
c
Differencec-a
Differencec-b
Ordinary income 130 130 130 0 0(Ratio) 6.2% 5.6% 5.9% -0.3% 0.3%
Green Technology 90 118 107 17 -11(Ratio) 6.8% 8.5% 7.6% 0.8% -0.9%Paint Finishing 44 11 27 -17 15(Ratio) 5.8% 1.3% 3.4% -2.4% 2.1%
75 72 75 0 2
(Ratio) 3.6% 3.1% 3.4% -0.2% 0.3%
Profit attributable toowners of parent
Copyright 2018 Taikisha Ltd., All Rights Reserved.
746 610 600
132 113 150
354 405 365
462 633 505
487 436 530
0
500
1,000
1,500
2,000
2,500
2017.3 2018.3 2019.3(E)
5
2,1982,183
19.8%
18.4%
28.8%
27.8%
5.1%
621 789 685
138 129
115 366
371 384
440569
546
438
458470
0
500
1,000
1,500
2,000
2,500
2017.3 2018.3 2019.3(E)
2,006
35
(Hundred millions of yen)
22.3%
16.2%
21.2%
34.2%
6.1%
21.9%
18.3%
22.0%
31.0%
6.9%
2,150
24.7%
17.0%
23.5%
27.9%
7.0%
2,318
19.8%
16.0%
24.5%
34.1%
5.6%
2,200
21.4%
17.5%
24.8%
31.1%
5.2%
Building HVAC
Industrial HVAC (Overseas)
Industrial HVAC (Japan) Paint Finishing (Overseas)
Paint Finishing (Japan)
Earnings Forecast for FY2018
Earnings Forecast by Division
Orders-received Sales
Copyright 2018 Taikisha Ltd., All Rights Reserved.
397 509 436
445501 524
988 1,161 1,069
10171157
1131
0
500
1,000
1,500
2,000
2,500
2017.3 2018.3 2019.3(E)
1,010
643 508 446
616605
4841,100 1,015 965
1,082 1,182 1,185
0
500
1,000
1,500
2,000
2,500
2017.3 2018.3
50.4%
45.7%
5
2019.3 (E)
51.0 %
1,260
842
2,150
47.1%
2,183 2,198
44.9%
2,006
49.3%
1,114
50.4%
Earnings Forecast for FY2018
(Hundred millions of yen)
36
48.0%
46.2%
9,300
2,2002,318
48.6%
45.4%
50.1%
960
(%: Overseas ratio)
Total(Japan/Overseas)
Orders-received Sales
H1 Total H1 TotalH1 Total H1 Total H1 TotalH1 Total
JapanOverseas
Copyright 2018 Taikisha Ltd., All Rights Reserved.
167 161 186
390 440 474
366 371 384
8791027 1016
0
500
1,000
1,500
2018.3 2019.3(E)2017.3
156 215 146
517537
424354 405 365
9491069
1035
0
500
1,000
1,500
2018.32017.3
5
2019.3(E)
23.3% 26.9%
673558
30.0%
1,304
27.2%
1,245
29.4%
752
28.6%
602
37
Earnings Forecast for FY2018
1,400
25.6%
570
26.1%
1,475
27.5%
1,400
28.2%
660
27.4%
1,399
26.6%
Green Technology System Division (Japan/Overseas)
Orders-received Sales
JapanOverseas
(Hundred millions of yen)
(%: Overseas ratio)
H1 TotalH1 TotalH1 Total H1 TotalH1 TotalH1 Total
Copyright 2018 Taikisha Ltd., All Rights Reserved.
229347
250
54
60
50
621
789
685
138
129
115
0
500
1,000
2017.3 2018.3 2019.3(E)
486
293 300
99
67 60
746610
600
132
113 150
0
500
1,000
2017.3 2018.3
5
2019.3(E)
83.0%
283
80.8%
586
878
84.9%
760
81.8%
81.2% 85.1%
408361
38
Earnings Forecast for FY2018
750
83.3%
360
80.0%
723
84.4%
800
83.3%
30085.6%
919
85.9%
(Hundred millions of yen)
(%: Overseas ratio)
Paint Finishing System Division (Japan/Overseas)
JapanOverseas
Orders-received Sales
H1 TotalH1 TotalH1 Total H1 TotalH1 TotalH1 Total
Copyright 2018 Taikisha Ltd., All Rights Reserved. 39
6
DateNumber(thou
sand)
Unit Price(yen)
Amount(million yen)
2005/12 40 1,933 77
2006/2 597 1,780 1,062
2006/7 500 1,401 700
2011/8 300 1,576 472
2012/11 600 1,614 968
2013/12 800 2,170 1,736
2015/5 680 3,245 2,206
2016/11 356 2,805 999
2017/11,12 136 3,654 499
Date Number(thousand)
Unit Price(yen)
Amount(million yen)
2008/8 1,200 1,593 1,912
2018/2 1,700 2,443 4,154
Date number(thousand)
Unit Price(yen)
Amount(million yen)
2013/2 180 1,860 334
Shareholders Returns Purchase / Retirement / Disposal of Treasury Shares
Disposal Record
Purchase Record Retirement Record
(by ESOP)
Copyright 2018 Taikisha Ltd., All Rights Reserved.
2010.3 2011.3 2012.3 2013.3 2014.3 2015.3 2016.3 2017.3 2018.32019.3
(E)Net income(hundred millions of yen) 36.6 37.0 43.7 62.0 41.5 60.8 70.8 63.0 72.5 75.0
Cash dividends per share(yen) 30 30 35 50 45 52 67 70 75 77
Dividend payout ratio(%) 30.1 29.8 29.3 29.2 38.8 30.1 32.8 38.2 35.3 35.1
0
5
10
15
20
25
30
35
40
45
0
10
20
30
40
50
60
70
80
90
6
(%)
40
(Hundred millions of Yen / Yen)
The basic policy is to implement steady dividends by targeting a consolidated dividend payout ratio of 35%.
Shareholders Returns Net Income per Share & Cash Dividends per Share
Copyright 2018 Taikisha Ltd., All Rights Reserved. 41
Precaution about Forward Perspective The data and future prospect in this material is based on the judgment on the announcement date and the available information. They are possible to change by various kinds of factors and can not guarantee the achievement of goals and future performance. This information is subject to change without notice.We therefore recommend that you use this information with checking and confirming other information as well. Taikisha assumes no responsibility whatsoever for any damages resulting from the use of this material.
Contact information for inquiry about this materialInvestor Relations Section, Administrative Management Headquarters,
Taikisha Ltd.TEL:+81-3-5338-5052 FAX:+81-3-5338-5195