Results Briefing for FY2020 (Ended February 28, 2021)
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Results Briefing for FY2020 (Ended February 28, 2021) Notes: Yaskawa Group has voluntarily adopted International Financial Reporting Standards (IFRS) since its Annual Securities Report submitted on May 28, 2020, in order to enhance business management through the unification of accounting standards and to improve the international comparability of financial information in capital markets. We have also changed the segment classification since fiscal 2020. As a result, the figures for the same period of the previous fiscal year were calculated taking into account the impact of these changes. (Please see P.26) The information within this document is made as of the date of writing. Any forward-looking statements are made according to the assumptions of management and are subject to change as a result of risks and uncertainties. YASKAWA Electric Corporation undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Figures in this document are rounded off, and may differ from those in other documents such as financial results. The copyright to all materials in this document is held by YASKAWA Electric Corporation. No part of this document may be reproduced or distributed without the prior permission of the copyright holder. © 2021 YASKAWA Electric Corporation Contents 1. FY2020 Financial Results 3. FY2021 Full-Year Forecasts • FY2020 Financial Results • FY2021 Full-Year Financial Forecasts • Business Segment Overview • Breakdown of Changes • Revenue Breakdown by Business in Operating Profit Segment • Measures for FY2021 • Revenue Breakdown by Region • Shareholder Return(Dividends) • Breakdown of Changes in Operating Profit 4. Reference • Current Initiatives from FY 2020 4Q • Retroactive Application of IFRS/ Business Reclassification to the 2. Progress and Review of FY2019 Full-Year Results Mid-term Business Plan • Capital Expenditure, R&D Investment, • Progress of Mid-term Business Plan Forex Rates and Sensitivity "Challenge 25" • Financial Indices • Achievements and Challenges of • Revenue / Operating Profit "Challenge 25" • Quarterly Sales Trends • Overview and Basic Policies of • Quarterly Order Trends "Challenge 25 Plus" • Major Production Bases © 2021 YASKAWA Electric Corporation 1 Business Overview Motion Control Robotics System Engineering 【Core products】 【Core products】 【Core products】 ・AC servo motors and controllers ・Industrial robots ・Large-scale wind power generator ・Linear servo motors - Arc and spot welding robots, and converter ・AC drives painting robots ・PM motor - FPD glass sheet transfer robots, ・PV inverters handling robots ・Electrical systems for steel plants ・Semiconductor wafer transfer ・Electrical instrumentation robots systems for water supply plants ・Biomedical robots and sewage treatment facilities ・Collaborative robots AC servo motor Σ-X series Small and versatile industrial robot Electrical instrumentation MOTOMAN-GP4 Generator and converter for systems for water and large-scale wind turbines sewerage Yaskawa AC drive new series Dust and drip proof PV inverter Electrical systems for collaborative robot XGI1500 150kW steel plants 7-axis MOTOMAN-HC20DT arc-welding robot MOTOMAN-AR1440E Other GA500 Matrix converter GA700 U1000 ・Logistics © 2021 YASKAWA Electric Corporation 2 サブタイトルの書式設定 • マスター テキストの書式設定 • 第 2 レベル 1• .第 3FY2020 レベル Financial Results • 第 4 レベル • 第 5 レベル (Ended February 28, 2021) © 2021 YASKAWA Electric©Corporation 2021 YASKAWA Electric Corporation 3 FY2020 Financial Results (Highlights) ・Despite a decrease in revenue due to the impact of the spread of novel coronavirus, profitability improved and profit increased due to thorough cost reduction. FY2020 FY2019 Changes Results Results Amounts % Revenue \ 389.7bn. \ 411.0bn. -\ 21.2bn. -5.2% Operating profit \ 27.2bn. \ 24.2bn. +\ 3.0bn. +12.3% Profit before tax \ 27.2bn. \ 24.6bn. +\ 2.5bn. +10.3% Profit attributable to owners of parent \ 18.9bn. \ 15.6bn. +\ 3.4bn. +21.5% © 2021 YASKAWA Electric Corporation 4 FY2020 Financial Results by Business Segment ・Profit increased for Motion Control and Robotics despite lower revenue ・Profit for System Engineering decreased due to temporary allocation of costs FY2020 FY2019 Changes Profit Profit Results Results Amounts % (Billions of yen) ratio ratio Revenue 389.7 411.0 -21.2 -5.2% Motion Control 176.0 180.4 -4.4 -2.5% Robotics 139.5 152.2 -12.7 -8.3% System Engineering 50.8 55.5 -4.8 -8.6% Other 23.4 22.8 +0.6 +2.8% Operating profit 27.2 7.0% 24.2 5.9% +3.0 +12.3% Motion Control 24.6 14.0% 20.6 11.4% +4.0 +19.6% Robotics 6.9 5.0% 6.5 4.3% +0.4 +6.2% System Engineering -1.0 -2.0% 0.5 0.8% -1.5 - Other 0.3 1.3% -0.0 -0.1% +0.3 - Elimination or Corporate -3.6 - -3.3 - -0.3 - © 2021 YASKAWA Electric Corporation 5 Business Segment Overview: Motion Control Revenue (Billions of yen) 200 [Revenue] 180.4 176.0 • In AC servo & controller business, sales of new infrastructure- 160 related products in China and semiconductor and electronic component-related products for smartphones and other 120 products in the global market were strong. • In drives business, although orders were on a recovery trend 80 toward the end of the fiscal year, demand related to oil and gas in the United States has declined significantly for the full year, 40 which led to decrease in revenue. [Operating profit] 0 • Increased due to improved profitability stemming from growth FY2019 FY2020 in revenue in China and the effect of cost control Operating profit/loss (Billions of yen) Revenue breakdown Operating profit ratio (%) by region 30 18.0% 24.6 25 16.0% 20.6 14.0% 20 14.0% 15 12.0% FY2020 10 11.4% 10.0% \ 176.0 bn. 5 8.0% 0 6.0% FY2019 FY2020 © 2021 YASKAWA Electric Corporation 6 Business Segment Overview: Robotics Revenue (Billions of yen) [Revenue] 160 152.2 139.5 • In the automobile market, although global capital investment recovered toward the end of the fiscal year, revenue was sluggish 120 due to the impact of the novel coronavirus in the first half • In the general industrial sector, capital investment was seen 80 mainly in China against the backdrop of expanding needs for automation Sales of semiconductor robots were solid 40 • [Operating profit] 0 • Increased due to the recovery of the automobile market and the effect of cost control FY2019 FY2020 Operating profit/loss (Billions of yen) Revenue breakdown Operating profit ratio (%) by region 8 15.0% 6.5 6.9 6 10.0% 5.0% 4 5.0% FY2020 4.3% \ 139.5 bn. 2 0.0% 0 -5.0% FY2019 FY2020 © 2021 YASKAWA Electric Corporation 7 Business Segment Overview: System Engineering Revenue (Billions of yen) 60 55.5 [Revenue] 50.8 • Sales of PV inverter for solar power generation were sluggish, 45 while sales of electrical equipment for large-scale wind turbines and revenue for water and sewage systems remained firm. 30 • In the steel plant-related sector, revenue was sluggish due to the postponement of capital investment in Japan. 15 [Operating profit] • Although structural reforms progressed, profit decreased due to the provision of temporary product repair costs. 0 FY2019 FY2020 Operating profit/loss (Billions of yen) Revenue breakdown Operating profit ratio (%) by region 0.8 3.0% 0.5 0.4 0.8% 1.0% 0.0 -2.0% -1.0% FY2020 -0.4 \ 50.8 bn. -0.8 -3.0% -1.2 -1.0 -5.0% FY2019 FY2020 © 2021 YASKAWA Electric Corporation 8 Revenue Breakdown by Business Segment FY2019 FY2020 Revenue Revenue \ 411.0 bn. \ 389.7 bn. © 2021 YASKAWA Electric Corporation 9 Revenue Breakdown by Destination (1) ・Revenue of China significantly increased year on year. Changes FY2020 FY2019 Amounts % (Billions of yen) Revenue 389.7 411.0 -21.2 -5.2% Japan 135.9 151.5 -15.6 -10.3% Overseas 253.8 259.5 -5.7 -2.2% The Americas 58.9 73.9 -15.0 -20.3% Europe 54.8 61.3 -6.5 -10.5% China 97.9 80.0 +18.0 +22.5% Asian Countries 41.8 43.9 -2.1 -4.7% except China Other 0.3 0.4 -0.1 -30.8% Note : Europe includes Middle East and Africa. © 2021 YASKAWA Electric Corporation 10 Revenue Breakdown by Destination (2) FY2019 FY2020 Revenue Revenue \ 411.0 bn. \ 389.7 bn. Note : Europe includes Middle East and Africa. © 2021 YASKAWA Electric Corporation 11 Breakdown of Changes in Operating Profit ( FY2019 → FY2020 ) (Billions of yen) Decrease Other FY2020 in expenses Effects of +10.0 +0.6 27.2 changes +3.0 in forex Profit FY2019 rates decrease due to sales 24.2 -1.4 decrease -5.1 Decrease in added value -1.1 © 2021 YASKAWA Electric Corporation 12 Current Initiatives from FY 2020 4Q 3 Establishment of "i -Mechatronics" business model Development capabilities ・YASKAWA Technology Center opened in the headquarters (March 2021) ... The central base for technology for integrated development, including production technology from elemental technologies to mass production prototypes Sales capabilities Exterior view of YASKAWA Technology Center ・AC servo drive drive Σ-X series was launched (March 2021) ... Creating added value for customers with the industry's best motion performance and digital data solutions Strengthen management foundation that contributes to sustainable society/businesses Sustainability policy was established (March 2021) ・ Aiming at realizing a sustainable society by solving social issues Carbon neutral target for 2050 was established (March 2021) ・ Achieve net zero emission of CO2 from business activities in 2050 (carbon neutral) AC servo drive Σ-X Series ・ Completed the introduction of 100% renewable energy-derived electricity at three major business sites in Japan *1 Including carbon dioxide and other greenhouse gases (Fluorocarbons, etc.) *2 Yawatanishi Plant, Intermediate Plant, and Kokura Plant © 2021 YASKAWA Electric Corporation 13 Confidential サブタイトルの書式設定 • マスター テキストの書式設定 • 第 2 レベル • 第 3 レベル • 第 4 レベル 2. Progress• 第 5 レベル and Review of Mid-term Business Plan © 2021 YASKAWA Electric©Corporation 2021 YASKAWA Electric Corporation 14 Progress of Mid-term Business Plan "Challenge 25" ・Social and environmental assumptions significantly changed due to US-China trade conflict and the impact of Coronavirus(COVID-19).