For the Fiscal year Ended March 31
(April 1, 2023 to March 31, 2024)
Financial Results
April 26, 2024
AISIN CORPORATION
For the Fiscal year Ended March 31, 2024 Financial Results/ 2024.4.26 / © AISIN CORPORATION All Rights Reserved.
Overview of FYE2024 Financial Results
Results
Forecast
Return to
Shareholders
Revenue increased YoY due to an increase in vehicle production mainly in Japan and the U.S., and a weaker yen, as well as an increase in electrification unit sales. Operating profit increased YoY due to improvements in the business environment and cost structure improvement, despite the recording of quality-related cost in the 3rd quarter.
The forecast of Revenue and Operating profit for FYE2025 are 4,920 billion and 220 billion JPY. Although vehicle production assumptions are at the previous year's level, we will accelerate sales expansion of electrified products, strengthen product competitiveness and reinforce group management.
The annual dividend for the FYE2024 is 170 yen ( year end dividend of 90 yen ) and the dividend forecast for the next fiscal year is 180 yen. We will implement stable and continuous return to shareholders over the medium to long term.
For the Fiscal year Ended March 31, 2024 Financial Results / 2024.4.26 / © AISIN CORPORATION All Rights Reserved. | 1/21 |
Consolidated Financial Results (FYE2024)
1
For the Fiscal year Ended March 31, 2024 Financial Results/ 2024.4.26 / © AISIN CORPORATION All Rights Reserved.
FYE2024 Results Financial Summary
( )Shows Rate to Revenue % | 【 Billion JPY 】 |
FYE2023 | FYE2024 | Change | Change rate | |||
Results | Results | % | ||||
Revenue | 4,402.8 | - | 4,909.5 | - | +506.7 | +11.5 |
Operating Profit | 57.9 | (1.3) | 143.3 | (2.9) | +85.4 | +147.5 |
Profit before | 73.7 | (1.7) | 149.8 | (3.1) | +76.1 | +103.2 |
income taxes | ||||||
Profit for the | 37.6 | (0.9) | 90.8 | (1.8) | +53.2 | +141.1 |
Period*1 | ||||||
*1 :Profit for the period attributable to Owners of the parent
FYE2024 Forecast
As of Feb. 2
4,900.0 -
150.0 (3.1)
160.0 (3.3)
90.0 (1.8)
FX | 136 | JPY | 145 | JPY | +9 | JPY | +6.6 | ||||
Pre-conditions | USD | ||||||||||
Rate | 19.8 | 20.2 | +0.4 | +2.0 | |||||||
CNY | JPY | JPY | JPY | ||||||||
Powertrain Unit | 895 | 10,000 | 973 | 10,000 | +78 | 10,000 | +8.7 | ||||
Toyota production | 10,000 | 10,000 | 10,000 | ||||||||
unit | unit | unit | |||||||||
Sales*2 | 926 | unit | 1,052 | unit | +126 | unit | +13.6 | ||||
(number of elctrification unit*3) | (136) | (226) | (+90) | ||||||||
*2 : Total sales of AT, CVT, HEV and eAxle | *3 : Total sales of HEV, eAxle |
143 | JPY |
19.9 | JPY |
- 10,000unit
1,070 10,000 unit
(230)
For the Fiscal year Ended March 31, 2024 Financial Results / 2024.4.26 / © AISIN CORPORATION All Rights Reserved. | 3/21 |
FYE2024 Revenue by Customer
Mobility | ||
Energy Solutions and Others | ||
4,402.8 | 4,909.5 | |
135.0 | ||
124.4 | (2.8%) | |
(2.8%) | 1,556.7 | |
Other | ||
1,436.2 | OEMs | (31.7%) |
(32.6%) |
2,842.1 TOYOTA 3,217.7
(64.6%) Group (65.5%)
FYE2023 | FYE2024 | |
Results | Results |
【 Billion JPY 】
Revenue by Customer(Other OEMs)
Customer | FYE2023 | FYE2024 | Change | Change | ||
Results | Results | Rate (%) | ||||
Stellantis | 275.5 | 281.9 | +6.4 | +2.3 | ||
VW & Audi | 177.2 | 194.0 | +16.8 | +9.5 | ||
SUZUKI | 156.6 | 168.5 | +11.9 | +7.6 | ||
VOLVO | 98.1 | 110.0 | +11.9 | +12.1 | ||
HONDA | 66.1 | 84.4 | +18.3 | +27.7 | ||
NISSAN | 68.7 | 79.0 | +10.3 | +15.0 | ||
MITSUBISHI | 79.2 | 78.3 | -0.9 | -1.1 | ||
ISUZU | 53.7 | 51.8 | -1.9 | -3.5 | ||
Changan | 35.0 | 47.6 | +12.6 | +36.1 | ||
Automobile | ||||||
China FAW | 37.9 | 43.7 | +5.8 | +15.2 | ||
Others | 388.2 | 417.5 | +29.3 | +7.5 | ||
Total | 1,436.2 | 1,556.7 | +120.5 | +8.4 | ||
(Reference) | 168.3 | 218.4 | +50.1 | +29.8 | ||
Chinese OEMs | ||||||
For the Fiscal year Ended March 31, 2024 Financial Results / 2024.4.26 / © AISIN CORPORATION All Rights Reserved. | 4/21 |
FYE2024 Segment Information
FYE2023 Results | FYE2024 Results(Excluding Quality-related Cost) | 【 Billion JPY 】 | |||
Revenue ( YoY +506.7) | Operating Profit ( YoY +148.4*) | ||||
* Excluding Quality-related Cost of 63.0 |
+231.2 | ||||||||||||||||
2,450.8 | ||||||||||||||||
2,219.6 | +168.0 | |||||||||||||||
982.3 | +80.4 | +6.2 | ||||||||||||||
814.3 | +20.9 | |||||||||||||||
612.3 | ||||||||||||||||
364.7 531.9 | 492.9 | 499.1 | ||||||||||||||
343.8 |
+98.6
94.1 | -1.4 | |||||||||||||||
+20.4 | .8 | |||||||||||||||
62.260 | ||||||||||||||||
+38.8 | -0.6 | 36.4 | ||||||||||||||
16.0 | ||||||||||||||||
6.3 | 8.3 | 7.7 | ||||||||||||||
-4.5
-32.5 | |||||||||||
Japan | North | Europe | China | Asia & | Japan | Europe | China | Asia & | |||
America | Others | North | |||||||||
※Revenue to External Customers | America | Others | 5/21 | ||||||||
For the Fiscal year Ended March 31, 2024 Financial Results / 2024.4.26 / © AISIN CORPORATION All Rights Reserved. |
FYE2024 Analysis of Operating Profit | 【 Billion JPY 】 | |||
【 Compared to Disclosure on Feb. 2 】 | 【-4.7】 | 【-6.7】 | ||
+ 60.0 -19.6 | 206.3 | -63.0 | ||
【+6.5】 | 【-1.5】 | |||
【-7.0】 | + 8.5 | 【-6.7】 | ||
+ 21.5 | ||||
+ 58.0 | 143.3 | |||
57.9 + 20.0
FYE2023
Results
One-time Costs | Sales &Product | FX Impact | Materials/ | Cost Structure | Fixed | FYE2024 Results | Quality-related | FYE2024 |
(Expense for | Mix etc. | Logistics Cost | Improvement | Expense etc. | (Excluding | Cost | Results | |
Structural Reforms) | ・Structural Reforms | |||||||
Quality Cost) |
Sales &Product Mix etc. Breakdown
Sales Volume | + 98.0 |
Fluctuations | |
Sales Price Variance | - 40.0 |
& Product Mix | |
FX Impact | Breakdown |
USD | +10.7 |
CNY | +3.0 |
EUR | +1.6 |
THB | +6.2 |
Cost Structure Improvement/Structural Reforms
Activities toward 3 years of "Full Model Change" with changing the "content" of the business and improving the "quality" are accelerating.
・Accelerate profit improvement of existing products. (HEV、Brakes、8-speed AT)
・Reduction of raw material consumption, energy conservation, and improvement of logistics.
・Harvesting corporate M&A merit.
Fixed Expense etc.
Accelerate resource shift to growth domains and control total fixed costs with discipline.
・R&D investing in Electrification・intelligence products and CN. ・Improving development efficiency by utilizing MBD and DX. ・Preparation for production with a focus on BEV Products.
・Reduction of investment by utilizing existing assets.
For the Fiscal year Ended March 31, 2024 Financial Results / 2024.4.26 / © AISIN CORPORATION All Rights Reserved. | 6/21 |
Consolidated Financial Forecast (FYE2025)
2
For the Fiscal year Ended March 31, 2024 Financial Results/ 2024.4.26 / © AISIN CORPORATION All Rights Reserved.
FYE2025 Forecast Financial Summary
( )Shows Rate to Revenue % | 【 Billion JPY 】 | |||||||
FYE2024 | FYE2025 | Change | Change Rate | |||||
Results | Forecast | % | ||||||
Revenue | 4,909.5 | - | 4,920.0 | - | +10.5 | +0.2 | ||
Operating profit | 143.3 | (2.9) | 220.0 | (4.5) | +76.7 | +53.4 | ||
Profit before | 149.8 | (3.1) | 225.0 | (4.6) | +75.2 | +50.1 | ||
Income Taxes | ||||||||
Profit for the | 90.8 | (1.8) | 130.0 | (2.6) | +39.2 | +43.2 | ||
Period*1 | ||||||||
*1 :Profit for the Period Attributable to Owners of the Parent
Pre-conditions | USD |
FX | |
Rate | |
CNY | |
Powertrain Unit | |
Sales*2 |
(number of electrification unit*3)
*2 : Total Sales of AT, CVT, HEV and eAxle
145 | JPY | 145 | JPY | +0 | JPY |
20.2 | JPY | 20.0 | JPY | -0.2 | JPY |
1,052 | 10,000 | 1,020 | -32 | 10,000 | |
10,000 | |||||
(226) | unit | (246) | Unit | (+20) | unit |
*3 : Total Sales of HEV, eAxle
+0.0 -1.0
-3.0
For the Fiscal year Ended March 31, 2024 Financial Results / 2024.4.26 / © AISIN CORPORATION All Rights Reserved. | 8/21 |
FYE2025 Revenue by Customer
Mobility
Energy Solutions and Others
4,909.5 | 4,920.0 | |
135.0 | 120.0 | |
(2.8%) | (2.4%) | |
1,556.7 | Other | 1,480.0 |
(31.7%) | OEMs | (30.1%) |
3,217.7 TOYOTA 3,320.0
(65.5%) Group (67.5%)
【 Billion JPY 】
Revenue by Customer(Other OEMs)
Customer | FYE2024 | FYE2025 | Change | Change |
Results | Forecast | Rate (%) | ||
Stellantis | 281.9 | 235.0 | -46.9 | -16.6 |
SUZUKI | 168.5 | 184.0 | +15.5 | +9.2 |
VW & Audi | 194.0 | 155.0 | -39.0 | -20.1 |
VOLVO | 110.0 | 94.0 | -16.0 | -14.6 |
HONDA | 84.4 | 85.0 | +0.6 | +0.7 |
NISSAN | 79.0 | 80.0 | +1.0 | +1.2 |
MITSUBISHI | 78.3 | 66.0 | -12.3 | -15.7 |
China FAW | 43.7 | 48.0 | +4.3 | +9.7 |
ISUZU | 51.8 | 45.0 | -6.8 | -13.3 |
Geely | 42.2 | 43.0 | +0.8 | +1.7 |
Others | 422.9 | 445.0 | +22.1 | +5.4 |
Total | 1,556.7 | 1,480.0 | -76.7 | -4.9 |
FYE2024
Results
FYE2025 Forecast
(Reference) | 218.4 | 212.0 | -6.4 | -3.0 | |
Chinese OEMs | |||||
For the Fiscal year Ended March 31, 2024 Financial Results / 2024.4.26 / © AISIN CORPORATION All Rights Reserved. | 9/21 |
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Aisin Corporation published this content on 26 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2024 14:36:28 UTC.