results announcement first half of fy2015consolidated results outline for the first half of fy2015...

Results Announcement for the First Half of FY2015 (April 1, 2014 – September 30, 2014)

仮色調整

Honda City seat

http://www.tstech.co.jp

Securities code: 7313 First Section, Tokyo Stock Exchange

Results Announcement for the First Half of FY2015

Details Kazuhiko Hikida

・ Consolidated Results for the First Half of FY2015

・ Consolidated Forecasts for FY2015

・ Consolidated Results Outline for the First Half of FY2015

・ Business Overview for the First Half of FY2015

・ Outline of Consolidated Forecasts for FY2015

Outline Michio Inoue President

Senior Managing Director & Corporate Business Administration Division Executive General Manager

Consolidated Results Outline for the First Half of FY2015 (April 1, 2014 - September 30,2014)

First half of

FY2014

First half of

FY2015

First half of

FY2014

First half of

FY2015

First half of

FY2014

First half of

FY2015

First half of

FY2014

First half of

FY2015

Japan China The Americas Asia and Europe

Total seats produced

（Unit: 10,000 seats）

First half of

FY2014

First half of

FY2015

159

（Unit: 10,000 seats）

Production volume according to region

*Figures rounded down to the nearest 10,000 seats. （Source: TS TECH production data)

159

Actual Production Volume for Honda Automobile Seats (First half of FY2015)

Consolidated

6

18

24

72

66

33 39

34 29

+ 0.3%

+ 31.5%

- 8.2%

+ 17.0% - 15.0%

Consolidated Results Outline for the First Half of FY2015 (April 1, 2014 – September 30, 2014)

7

FY2014 FY2015 Comparison of first halves

Difference (Change) Results Results

216,037 216,133 ＋96 (+0.0%)

Net sales [million yen]

20,485 17,567 -2,918 (-14.3%)

Operating income [million yen]

9.5% 8.1% Operating margin

¥98.9 ¥103.0 Average exchange rate

[USD]

【仮】売上・利益を明確にわけて書くか？

or ‘一文’化するか？

加藤さん数字(営業利益率や為替等)を

再度見直してください ※小数点以下の桁揃え

・四捨五入?・切捨て？切り上げ？

【Net sales】･ Exchange rate impact ･ Changes to model makeup

【Operating income】

･ Exchange rate impact ･ Changes to model makeup ･ The effects of decreased

production in Thailand

Varia

ble

facto

rs

8

FY2015 FY2015 first half results compared

with initial forecasts

Difference (Change) First half results Initial forecasts (April 25)

213,000 216,133 ＋3,133 (+1.5%)

売上高 [百万円]

16,500 17,567 ＋1,067 (+6.5%)

営業利益 [百万円]

7.7% 8.1%

(¥100.0) ¥103.0

【仮】売上・利益を明確にわけて書くか？

or ‘一文’化するか？

加藤さん数字(営業利益率や為替等)を

再度見直してください ※小数点以下の桁揃え

・四捨五入?・切捨て？切り上げ？

Net sales [million yen]

Operating income [million yen]

Consolidated Results Outline for the First Half of FY2015 (April 1, 2014 – September 30, 2014)

Operating margin

Average exchange rate

[USD]

8

【Net sales】･ Exchange rate impact ･ Changes to model makeup

･ Decreased order volume from major customers


･ Exchange rate impact ･ Changes to model makeup


･ Cost cutting

Varia

ble

facto

rs

Business Overview for the First Half of FY2015

April 1, 2014 – September, 30 2014

SUZUKI

Kawasaki

YAMAHA

The Americas

China

Asia and Europe

第１四半期

Honda

第２四半期

Automobiles Motorcycles, etc.

White: New model/Full model change Gray: Minor model change

ODYSSEY

RM-Z450 (SUZUKI)

CITY (Philippines)

ＲＤＸ (U.S.)

CIVIC (Brazil)

ODYSSEY

(U.S.)

ACCORD (U.S.)

MOBILIO (Thailand)

CIVIC

10

MOBILIO (India)

米国 4月 • 2015 RDX 8月 • 2015 Accord • 2015 Acura TLX • 2015 Odyssey

カナダ

5月 • 2015 RDX 8月 • 2015 Acura TLX

ブラジル 4月末か5月の始まり • 2015 Fit （記事によると発売日が違っていました） 6月 • 2015 Civic 9月 • 2015 City

FIT (Brazil)

発売9月後半用確認⇒JEN

確認済み↓ 9月10日 CITY (Brazil)

VFR800F

10月ごろ発売？用確認⇒JEN

9月発売確認済み↓ 9月15日

CITY CNG (Thailand)

ACCORD (Thailand)

JAZZ (Indonesia)

JAZZ (Thailand)

Japan

ＮＭ４-01

Gold Wing F6C

CRF250R

May July June August September April

Key Models Entering Mass Production in FY2015 (Apr.-Sept. 2014)

ESCUDO Doors (SUZUKI)

JIMNY Doors (SUZUKI)

RM-Z250 (SUZUKI)

MULE PRO FXT (U.S./Kawasaki)

VIKING (U.S./YAMAHA)

Launch ： 2014 April (Philippines)

〃 September (Brazil)

Production sites ： Philippines, Brazil

(Production began earlier in India and Thailand)

Order ： Seats, doors

Honda CITY Full model change

各部品のさらなる小型化と、ミリ単位の配置調整により、リアシートの位置をギリギリまで後ろに設定。

軽量化・低コスト化

11

FITと部品を共有化することでコスト削減を実現

仮

【参考】非表示コスト：約▲40%(売価ベース) FITと部品を共有化することでコスト削減を実現

Door

The fuel efficient car

now weighs even less

前モデル比 [シート１台分]

重量：約▲ 8 % (フィリピン仕様)

コスト：約▲40 % (売価ベース)

[equivalent to the weight of one Philippine spec seat]

■8% lighter than the previous model

【確認事項】原価ベースではどれぐらい減少したのか？

■Improved occupant comfort Made rear seats more comfortable without compromising performance by making seatbacks even thinner

■Significantly lower costs Significantly reduced costs by using the same parts as the FIT

コスト【手元情報として】売価：約▲40% 原価：どのくらいさがったのか？確認

写真なし

Key Models Entering Mass Production in FY2015 (Apr.-Sept. 2014)

フロントシート

Establishment of a new company in India: Production hub for motorcycle seats

■ 主要客先のインド二輪事業拡大に対応

した生産体制を構築

目的

■代表者：代表取締役社長山口修一

■資本金： 460,000千ルピー（約7.6億円）

■事業内容：二輪車用シートの製造・販売

■設立： 2014年5月

■稼働開始： 2015年9月（予定）

概要

TS TECH MANDAL PRIVATE LIMITED

12

Artistic rendering of completed building

主要客先のインドにおける二輪事業の拡大に対応した生産体制を構築するため、インドグ

ジャラート州に新会社を設立いたします。新会社の二輪車用シートの年間生産能力は120万台規模であり、これにより、既存のTS TECH

SUN INDIA Private Limitedの280万台と合

わせて、当グループのインドにおける年間生産能力は400万台となります。

Construct a manufacturing system to accommodate expansion of major customers’ motorcycle business in India

TS TECH SUN RAJASTHAN

Rajasthan

▼Future site of the company

Gujarat

New company

■ Principal operations：Manufacture of seats for motorcycles

■ Location ： Gujarat, India

■ Capital stock ： 460 million rupees (roughly ￥760 million)

■ Establishment ： May 2014

■ Start of operations ：September 2015 (scheduled)

Building area: about 4,000㎡

Lot area: about 20,000㎡


13


Our first appearance at IZB2014, a German exhibition for automotive companies

Aggressive development of sales promotion to expand sales to companies other than Honda

■Dates ： Oct. 14-16, 2014

■Location：Wolfsburg, Germany (near VW headquarters)

■Number of exhibitors：About 800 companies

Internationale Zulieferer Börse： A biannual exhibition for international automotive companies held by VW and the city of Wolfsburg

【Notable items on display】

Component technology ・Global market seat frame ・4-way headrest

・Reinforced lock line-up ・Illuminated door panels

Products ・”Cradle seat” for the Japanese Odyssey

・Doors and seats for the City and Fit

屋内の写真（10/24頃設備導入⇒差し替え写真素材待ち）

The Hungary plant is steadily progressing toward the start of operations

14

Scheduled to begin production of 3rd-row seats for Volkswagen (next-gen SUV) in May 2015

仮 TS TECH Hungary Kft.

写真差し替え予定


■ Progress report

・Building for heavy machinery and office completed

・Installation of manufacturing equipment underway (as of the end of Oct. 2014)

□ Upcoming plans

・Hiring of manufacturing personnel, establishment of quality levels, etc.

・Start of operations: May 2015 (scheduled)

Installation of manufacturing equipment

Office

Relocation of a plant in Guangzhou, China

15

The move is in conjunction with Zengcheng District’s urban development plans

Artistic rendering of completed building

■ Principal operations：Manufacture of seats for automobiles

■ New location：

Zengcheng District, Guangzhou, Guangdong, China

Zengcheng Economic & Technological Development District

(the same district, but roughly 12 km northeast of the current location)

■ Start of operations ：July 2016 (scheduled)

GUANGZHOU TS AUTOMOTIVE INTERIOR SYSTEMS CO., LTD.

■Lot area

About 68,000㎡

About 133,000㎡

■Building area

About 40,000㎡

About 66,000㎡

About 1.6x larger

2x larger

Current plant

New plant


Current plant

New plant

「汽車産業基地」

英訳不明


Measures to Strengthen the Americas Segment

The start of operations at a new plant in Mexico: A component supply hub for the Americas

Further strengthen component competitiveness through the consolidation of automobile seat and door component manufacturing

■

■

■

■

■

：

：

：

：

:

リリース日

所在地

工場稼動開始

投資額

生産品

2013年3月27日

メキシコグアナファト州

2014年10月

約47,000千ドル（約43億円 1ドル:92円）

FIT・CR-V等のシート部品

●

メキシコ

アメリカ

カナダ

設立： 2013年４月稼動開始： 2014年10月(予定)

ブラジル

TS TECH CANADA

TS TECH USA

TS TECH ALABAMA

TS TRIM INDUSTRIES

TS TECH INDIANA

TS TECH DO BRASIL シート部品・ドア部品

New company

INDUSTRIAS TRI-CON DE MEXICO, S.A. DE C.V.

TST MANUFACTURING DE MEXICO, S. DE R.L. DE C.V.

■ Principal operations：Manufacture of seats and door components for automobiles (Fit, CR-V, etc.)

■ Location ： Guanajuato, Mexico

■ Lot area ： About 150,000㎡

■ Investment ： About 47 million dollars（Roughly ¥4.3 billion $1:¥92）

■ Start of operations ： October 2014 Guanajuato

Tamaulipas


Expansion of the Americas segment headquarters

Strengthen the segment’s sales and R&D system as the foundation for business expansion in the Americas

TS TECH AMERICAS, INC.

Section

to be

expanded

■ Expansion of the east side of the existing building (partially two-stories)

Roughly 2x bigger：【existing】5,386㎡ ⇒ 【new】10,568㎡

■ Building to be completed at the end of 2014 (scheduled) 従来：5,386㎡ ⇒ 拡張分：4,274㎡拡張後合計：9,660㎡


20

The aim is to further increase competitiveness and expand sales to customers other than Honda by the coordination and strengthening of all regions in the Americas

【North America】 Expansion of the

Americas segment

headquarters to

strengthen the sales and R&D system

【South America】 Strengthen cost competitiveness

through the construction

of a new sewing plant

and installation of

injection facilities

【Central America】 Strengthen component

competitiveness through consolidation

of production


21

Sitting will change your life.

Toshiyuki Sawaguchi

Masataka Matsutoya

Brain Scientist Music Producer, Motor Journalist

Kota Nezu

Kakuko Nakamura

Creative Communicator

Doctor of Medicine Visiting Professor at Yokohama City University

SPECIAL GUESTS

Spirit・Moving・Sitting・Future

We’re giving away 180 free tickets to the public ※Winners may be selected via lottery depending on the number of entries

For more info visit www.suwaru.jp

Event Notice

Contact: Za Forum Office [email protected]

Outline of Consolidated Forecasts for FY2015

April 1, 2014 – March 31, 2015

23

Outline of Consolidated Forecasts for FY2015

Results Initial

forecasts [April 25]

Midterm forecasts [Oct. 30]

Initial forecasts [April 25]

Midterm forecasts [Oct. 30]

Difference Change

Difference Change

First half Second half Full year

Average exchange

rate

USD …

CNY…

¥103.0

¥ 16.7

(¥100.0)

(¥15.8)

(¥107.0)

(¥17.2)

Operating margin

8.1% 9.3% 8.1% 8.6% 8.1%

Net sales [100 million yen]

2,161 2,250 2,169 -81 -3.6%

4,380 4,330 -50 -1.1%

Operating income 175 210 175 -35

-16.7%

375 350 -25 -6.7% [100 million yen]

【Net sales】･ Exchange rate impact ･ Decreased order volume from major customers


･ Exchange rate impact ･ Reduced costs


･ Cost cutting

見通しの変動要因

Consolidated Results for the First Half of FY2015

April 1, 2014 – September 30, 2014

（Unit: million yen)

First half of FY2014

Results


Results Difference Change

Sales ratio Sales ratio

Net sales 216,037 100.0% 216,133 100.0% 96 0.0%

Operating income 20,485 9.5% 17,567 8.1% -2,918 -14.3%

Ordinary income 21,809 10.1% 19,718 9.1% -2,091 -9.6%

Net income 12,738 5.9% 11,351 5.2% -1,457 -11.4%

Capital investment 9,557 8,605 -952 -10.0%

Depreciation 4,259 4,471 212 5.0%

R&D expenses 5,444 6,231 787 14.5%

Exchange rates

(First half average)

USD ￥98.9 ￥103.0

CNY ￥15.5 ￥16.7

Cash dividends per share (End of the first half) ￥24 ￥30

【Net sales】

・ Increase in revenue reflecting the impact of exchange rates

・ Decrease in revenue due to changes to model makeup

Consolidated Results Outline for the First Half of FY2015 【Results compared to the first half of FY2014】

【Main capital investments】

・A decline in investments, etc. in Asian manufacturing hubs

26

【Operating income/ordinary income/net income】

・Income decreased due to changes to model makeup, offsetting the the impact of exchange rates

・Decrease in income as a result of labor costs and increased costs

（Unit: million yen）

First half of FY2014 First half of FY2015

Automobiles 97.5％

Motorcycles 1.5％

Other 1.0％

Automobiles 97.5％

Motorcycles 1.3％

Other 1.2％

216,133

210,614

2,563

2,955

-308 （Down 9.4%）

+36 （Up 0.0%）

+350 （Up 19.0%）

Revenue roughly the same as the first half of FY2014

Net Sales According to Business Segment 【Results compared to the first half of FY2014】

210,577

2,196

3,263

27

216,037

First half of FY2014 First half of FY2015

Revenue increased, particularly in seats


Other 3.0％

Seats 88.5％

Doors 8.3％

Roofs 0.2％

Other 2.8％

Seats 89.3％

Doors 7.8％

Roofs 0.1％

16,497

187,985

5,947 184

Net Sales According to Product: Automobile Segment 【Results compared to the first half of FY2014】

-939 （Down 5.4%）

-136 （Down 42.5%）

+1,565 （Up 0.8%）

-453 （Down 7.1%）

210,614

28

17,437

186,419

6,400 320

210,577

Japan

第2四半期累計

第2四半期累計

Reasons for year-on-year rise/fall ・Decrease in revenue with a

decline in sales of parts supplied from Japan

・ Increase in revenue with increased order volume from major customers

Year-on-year -1,435 (Down 3.2%)

（Millio

n y

en

）

China

Reasons for year-on-year rise/fall ・ Increase in revenue due to the

impact of exchange rates ・ Increase in revenue with

increased order volume from major customers

Exchange rate impact

+3,750 million yen

The Americas

Reasons for year-on-year rise/fall ・ Decrease in revenue with

decreased order volume from major customers

・ Increase in revenue due to the impact of exchange rates

Exchange rate impact +3,698 million yen

Asia and Europe

Reasons for year-on-year rise/fall ・ Decrease in revenue with

decreased order volume from major customers in Thailand


Exchange rate impact +490 million yen

2014年3月期 2015年3月期

45,175

2014年3月期 2015年3月期

2014年3月期 2015年3月期

2014年3月期 2015年3月期

44,161

106,560

36,447

FY 2015

First half

FY 2014

First half

（Millio

n y

en

）

Results According to Segment (Net Sales)

FY 2015

First half

FY 2014

First half

FY 2015

First half

FY 2014

First half

FY 2015

First half

FY 2014

First half

Year-on-year -285 (Down 0.3%)

Year-on-year +7,296 (Up 16.5) Year-on-year -6,736 (Down 18.5%)

29

43,739

106,274

51,457

29,711

（Millio

n y

en

）

（Millio

n y

en

）

Japan

Reasons for year-on-year rise/fall ・ Decrease in income due to decline

in revenue ・Decrease in income as a result of

increased costs

（Millio

n y

en

）

Reasons for year-on-year rise/fall ・Increase in income due to increase in revenue ・ Increase in income due to the impact of exchange rates Exchange rate impact +470 million yen

（Millio

n y

en

）

The Americas



various increased costs ・ Increase in income due to the

impact of exchange rates Exchange rate impact +219 million yen

（Millio

n y

en

）



various increased costs Exchange rate impact +86 million yen

（Millio

n y

en

）

2014年3月期 2015年3月期

3,095

2014年3月期 2015年3月期

5,518

8,592

5,541

FY 2015

First half

FY 2014

First half

FY 2015

First half

FY 2014

First half

FY 2015

First half

FY 2014

First half

FY 2015

First half

FY 2014

First half

Year-on-year -555（Down 17.9%） Year-on-year -857 （Down 10.0%）

Year-on-year +2,847 （Up 51.6%） Year-on-year -3,042（Down 54.9%）

China Asia and Europe

30

2,540

8,365

2,499

7,735

6.9%

8.1%

12.5%

15.2%

5.8%

7.3%

16.3%

8.4%

Operating margin

Operating margin

Operating margin

Operating margin

Results According to Segment (Operating Income)

Income decreased due to changes to model makeup and increased expenses, offsetting the exchange rate impact

Reasons for Increase/Decrease in Operating Income 【Results compared to the first half of FY2014】

First half of

FY2014

First half of

FY2015

17,567

Reduced costs

1,252

Fluctuating sales &

changes to model makeup

-3,386

Increased SG&A

expenses

-1,408

Fluctuating material costs

-181 Exchange

rates

805

-2,918（Down 14.3%）

20,485

31

9.5%

8.1%


Net sales Operating income

106,861109,175

116,741

124,274

108,280 107,853

1Q 2Q 3Q 4Q 1Q 2Q

（Millio

n y

en

）

FY2014 FY2015

10,42210,062

8,7578,8099,060

9,564

1Q 2Q 3Q 4Q 1Q 2Q

FY2014 FY2015

（Millio

n y

en

）

-1,322 （Down 1.2%）

1,418 （Up 1.3%）

-1,612 （Down 15.5%）

-1,305 （Down 13.0%）

Quarterly Results

32



Forecasts (April 25）


Results Difference Change

Sales ratio Sales ratio

Net sales 213,000 100.0% 216,133 100.0% 3,133 1.5%

Operating income 16,500 7.7% 17,567 8.1% 1,067 6.5%

Ordinary income 17,800 8.4% 19,718 9.1% 1,918 10.8%

Net income 9,900 4.6% 11,351 5.2% 1,451 14.7%

Capital investment 11,550 8,605 -2,944 -25.5%

Depreciation 4,624 4,471 -152 -3.3%

R&D expenses 6,700 6,231 -468 -7.0%

Exchange rates (First half average)

USD ￥100.0 ￥103.0

CNY ￥16.4 ￥16.7

Cash dividends per share (End of first half) ￥30 ￥30

【Net sales】


・ Increase in revenue due to changes to model makeup

・ Decrease in revenue with decreased order volume from

major customers


・Increase in income due to changes to model makeup

・ Increase in income due to the impact of exchange rates

・ Decrease in income due to a decrease in revenue

33

Consolidated Results Outline for the First Half of FY2015 【Results compared to the forecasts released on April 25】

Income increased, primarily due to the exchange rate impact and cost cutting measures

First half of

FY2015

First half of

FY2015

17,567 Reduced

costs

213

Fluctuating sales & changes to

model makeup

-111 16,500

Exchange rates

377


4

Decreased SG&A

expenses

584

+1,067（Up 6.5%）

(April 25 forecasts)

34

7.7%

8.1%

（Unit: Million yen）

Reasons for Increase/Decrease in Operating Income 【Results compared to the forecasts released on April 25】

(Results)

Consolidated Forecasts for FY2015

April 1, 2014 – March 31, 2015

（Unit: million yen)

FY2014

Results

FY2015 Year-on-year

Change Forecasts（April 25） Revised forecasts (Oct. 30）

Net sales 457,053 438,000 433,000 -5.3% -1.1%

Operating income 39,133 37,500 35,000 -10.6% -6.7%

Ordinary income 42,937 40,000 38,500 -10.3% -3.7%

Net income 23,900 22,700 21,900 -8.4% -3.5%

Capital investment 19,960 20,000 22,500 12.7% 12.5%

Depreciation 8,628 9,600 9,320 8.0% -2.9%

R&D expenses 11,635 13,400 13,160 13.1% -1.8%

Exchange rates

USD Full year average

￥100.2 Full year average

￥100.0

First half average ￥103.0

Second half average ￥107.0

CNY Full year average

￥15.9 Full year average

￥16.1

First half average ￥16.7

Second half average ￥17.2

Cash dividends per share ￥54 ￥60 ￥60

《Year-on-year》

【Net sales】

・ Decrease in revenue with decreased order volume from major customers



・ Decrease in income due to a decrease in revenue

・ Increase in income due to the impact of exchange rates

《Compared to the forecasts (April 25)》

【Net sales】・Decrease in revenue with decreased order volume from major customers ・ Increase in revenue due to the impact of exchange rates 【Operating income/ordinary income/net income】・Decrease in income due to a decrease in revenue ・Increase in income due to the impact of exchange rates

Consolidated Forecasts for FY2015 【Revised forecasts compared to results from FY2014/Revised forecasts compared to the forecasts released on April 25】

36

68期減価償却費不明

資料：8,566

Japan

Reasons for year-on-year rise/fall ・Decrease in revenue due to changes to model makeup ・Decrease in revenue with a decline in sales of parts supplied from Japan Reasons for rise/fall from April 25 forecasts ・Decrease in revenue with decreased order volume from major customers

Year-on-year -11,555（Down 11.0％） April 25 forecasts -7,980（Down 7.9％）

（millio

n y

en

）

China

Reasons for year-on-year rise/fall ・Decrease in revenue with decreased order volume from major customers ・Increase in revenue reflecting the impact

of exchange rates Reasons for rise/fall from April 25 forecasts ・ Decrease in revenue with decreased

order volume from major customers ・ Increase in revenue reflecting the impact

of exchange rates Exchange rate impact Year-on-year +6,312 million yen April 25 forecasts +5,205 million yen

Year-on-year -2,023（Down 1.9％） April 25 forecasts -5,310 （Down 4.9％）

Reasons for year-on-year rise/fall ・ Decrease in revenue with decreased order volume from major customers ・ Increase in revenue reflecting the impact of exchange rates Reasons for rise/fall from April 25 forecasts ・ Increase in revenue reflecting the impact of exchange rates ・Increase in revenue due to changes to model makeup Exchange rate impact Year-on-year +9,123 million yen April 25 forecasts +9,015 million yen

Year-on-year -1,658（Down 0.8％）

April 25 forecasts +15,010（Up 7.6％）

Asia and Europe

Reasons for year-on-year rise/fall ・Decrease in revenue due to changes to model makeup ・ Increase in revenue reflecting the impact of exchange rates Reasons for rise/fall from April 25 forecasts ・ Decrease in revenue with decreased order volume from major customers ・Decrease in revenue due to changes to model makeup ・ Increase in revenue reflecting the impact of exchange rates Exchange rate impact Year-on-year +1,794 million yen April 25 forecasts +2,424 million yen

Year-on-year -9,771（Down 14.4％）

April 25 forecasts -4,390 （Down 7.0％）

93,340 104,895 101,320

102,040 104,063 107,350

The Americas

212,970 214,628

197,960

58,040 67,811 62,430

FY 2014 results

Revised forecasts

April 25 forecasts

FY 2014 results

FY 2014 results

FY2015

37

Forecasts According to Segment (Net Sales)

（millio

n y

en

）

（millio

n y

en

）

（millio

n y

en

）

FY 2014 results Revised

forecasts April 25 forecasts

FY2015 Revised forecasts

April 25 forecasts

FY2015

Revised forecasts

April 25 forecasts

FY2015

Japan

Reasons for year-on-year rise/fall ・Increase in income due to cost reductions ・ Decrease in income due to decrease in revenue Reasons for rise/fall from April 25 forecasts ・ Decrease in income due to decrease in revenue

Year-on-year +796（Up 11.6％） April 25 forecasts -1,770（Down 18.7％）

China

Reasons for year-on-year rise/fall ・ Increase in income due to earnings recovery measures ・Increase in income due to changes to model makeup ・ Decrease in income due to decrease in revenue Reasons for rise/fall from April 25 forecasts ・ Increase in income due to changes to model makeup ・ Increase in income due to the impact of exchange rates ・ Decrease in income due to decrease in revenue Exchange rate impact Year-on-year +834 million yen April 25 forecasts +705 million yen

Year-on-year +1,149（Up 8.2％）

April 25 forecasts +640（Up 4.4％）

The Americas

Reasons for year-on-year rise/fall ・Increase in income due to earnings

recovery measures ・ Decrease in income due to decrease in

revenue ・Increase in income due to the impact of

exchange rates

Reasons for rise/fall from April 25 forecasts ・ Increase in income due to the impact of exchange rates ・Increase in income due to changes to model makeup Exchange rate impact Year-on-year +568 million yen April 25 forecasts +549 million yen

Year-on-year -1,034（Down 6.3％） April 25 forecasts +1,300（Up 9.3％）

Asia and Europe

Reasons for year-on-year rise/fall ・ Increase in income due to earnings recovery measures ・Decrease in income due to decrease in revenue/changes to model makeup ・ Decrease in income as a result of various increased costs Reasons for rise/fall from April 25 forecasts ・ Increase in income due to earnings recovery measures ・ Decrease in income due to decrease in revenue ・Decrease in income due to changes to model makeup Exchange rate impact Year-on-year +186 million yen April 25 forecasts +115 million yen

Year-on-year -5,074（Down 63.5％） April 25 forecasts -3,240（Down 52.6％） 15,120

2,920

7,690

15,300

6,893

9,460

13,970 14,480

16,334

14,000

7,994

6,160

FY 2014 results

FY 2014 results

FY 2014 results

FY 2014 results

38

6.6%

7.6%

13.4%

11.8%

9.3%

7.1%

13.5%

9.9%

8.2%

7.2%

5.0%

利益率基礎資料と不一致資料：13.4%

14.8%

Operating margin

Operating margin

Operating margin

Operating margin

Forecasts According to Segment (Operating Income)

Revised forecasts

April 25 forecasts

FY2015

Revised forecasts

April 25 forecasts

FY2015

Revised forecasts

April 25 forecasts

FY2015

Revised forecasts

April 25 forecasts

FY2015

（millio

n y

en

）

（millio

n y

en

）

（millio

n y

en

）

（millio

n y

en

）

Fluctuating sales & changes to model

makeup

-10,802 Decreased

SG&A expenses

978 Exchange

rates

1,588

Reduced costs

４,729

39,133

35,000


-626

FY2014 FY2015 （Revised forecasts）

Increase in income due to exchange rate impact and increased order volume from major customers

（Unit: million yen） -4,133（Down 10.6%）

Consolidated Forecasts for Operating Income 【Revised forecasts compared to FY2014】

39

8.6%

8.1%

Increase in income due to cost cutting measures as well as changes to model makeup and exchange rate impact

Decreased SG&A

expenses

654

Exchange rates

1,326

39,133

35,000


79

FY2014 FY2015 （April 25 forecasts）

FY2015 （Revised forecasts）

37,500 Reduced

costs

619

-2,500（Down 6.7%）

40

8.6%

（Unit：million yen）

Fluctuating sales & changes to

model makeup

-5,178

8.6%

8.1%

Consolidated Forecasts for Operating Income 【Revised forecasts compared to the forecasts released on April 25】

FY2014 FY2015 FY2015 '14.3 '15.3 '15.3

Japan

China

Capital investment（by segment）

FY2014 Results

FY2015 April 25 forecasts

FY2015 First half results


The revised forecasts for FY2015 expect capital investments to increase, reflecting the construction of a new plant in Mexico

'14.3 '15.3 '15.3

8,605

4,471

FY2014 FY2015 FY2015FY2014 FY2015 FY2015

FY2014 FY2015 FY2015

The Americas

1,490

Asia and Europe

Total

FY2015 Second half forecasts

2,988

April 25 forecasts

Revised forecasts

Results

9,320

2,547

5,380 4,250

654 2,600

6,698 8,300

7,227

4,850

19,960 20,000

8,628 9,600

1,576

9,400

4,200

4,500

22,500

4,400

April 25 forecasts

Revised forecasts

Results Results

April 25 forecasts

Revised forecasts

Results April 25 forecasts

Revised forecasts

Results

Total

Capital Investment and Depreciation

Capital investment

Results

Depreciation


41

1,653

6,412

2,910 2,924

13,895

4,849

FY2014 FY2015 FY2015

FY2015 FY2015 FY2014

April 25 forecasts

Revised forecasts

April 25 forecasts

Revised forecasts

Thank you for listening

IR inquiries TS TECH Co., Ltd. Public Relations Section, Administration Department

Phone: 048‐462‐1136

Forward-looking statements and earnings forecasts contained in this presentation

represent TS TECH’s assumptions based on information currently available and are

subject to a degree of risk and uncertainty.

Therefore, please bear in mind that actual results may vary significantly from the

forward-looking statements contained in this presentation due to a range of variable

factors.

results announcement first half of fy2015consolidated results outline for the first half of fy2015...

Documents