November 1, 2007 (Thursday) Part 1: FY2007 Interim Financial Summary and FY2007 Projections Yukio Kinoshita, Executive Vice President and CFO 2007.11.1
1-1 Current Term Performance Evaluation ・ ・ Higher earnings for fifth straight year (mid-term net income) Higher earnings for fifth straight year (mid-term net income) Summary ・ Summary ・ New records for orders received, sales, operating income, New records for orders received, sales, operating income, ordinary income and mid-term net income ordinary income and mid-term net income ・ ・ Orders received: JPY 343.8 billion (forecasted: JPY 330 Orders received: JPY 343.8 billion (forecasted: JPY 330 billion) billion) ・ ・ Sales: JPY 305.1 billion (forecasted: JPY 300 billion) Sales: JPY 305.1 billion (forecasted: JPY 300 billion) ・ ・ Operating income: JPY 35 billion (forecasted: JYP 30 billion) Operating income: JPY 35 billion (forecasted: JYP 30 billion) Performance Performance ・ ・ Ordinary income: JPY 35 billion (forecasted: JYP 29 billion) Ordinary income: JPY 35 billion (forecasted: JYP 29 billion) ・ ・ Mid-term net income: JPY 20.2 billion (forecasted: JY P 17 Mid-term net income: JPY 20.2 billion (forecasted: JYP 17 billion) billion) * Forecasts are figures published in May 2007. * Forecasts are figures published in May 2007. 2007.11.1
1-2 Financial Summary for the 1 st half of FY2007 Unit: JPY billion 1 st half of 1st half of Change FY2007 FY2006 ■ Orders received Orders 322.4 343.8 21.4 received Amount of orders received increased in four market segments, except for 273.4 Sales 305.1 31.7 environmental. Operating ■ Sales 26.8 35.0 8.2 income Amount of sales increased in all Operating 9.8% 11.5% 1.7% market segments. income ratio Industrial machinery and 27.7 Ordinary 35.0 7.3 construction machinery provided income particularly significant contributions. Ordinary 10.1% 11.5% 1.4% ■ Operating income income ratio Considerable increases in operating Extraordinary -1.6 -2.2 -0.6 income or loss incomes achieved in all market segments except for standard and 16.7 Mid-term net 20.2 3.5 mass-produced machinery market income segments. Mid-term net income 6.1% 6.6% 0.5% ratio 2007.11.1
1-3 Operating Income by Segment ■ Standard and mass-produced Unit: JPY billion machinery 1 st half of 1 st half of Change PTC and plastics machinery FY2007 FY2006 experienced increases. Standard & 12.7 14.0 -1.3 Precision and other machinery mass-production machinery experienced a slump. ■ Environmental protection facilities, Environmental 1.9 protection -0.1 2.0 plants and others facilities, plants & others Energy-related facilities performed favorably. Ship, steel 5.7 2.3 3.5 structure and ■ Ship, steel structure and other other specialized equipment specialized equipment New ship building, as well as steel 5.5 3.8 1.7 Industrial structure and equipment continued machinery to perform favorably. ■ Industrial machinery 9.0 6.6 2.4 Construction machinery Material handling systems, turbines and pumps performed favorably. 35.0 26.8 8.2 ■ Construction machinery Total Hydraulic excavators and mobile crane businesses in the United States performed favorably. 2007.11.1
1-4 Balance Sheet Unit: JPY billion September March September March Change Change FY2007 FY2007 FY2007 FY2007 Current assets 332.5 Liabilities 336.5 4.0 385.6 394.9 -9.3 Notes and accounts 48.2 33.4 -14.8 149.7 150.9 -1.2 Cash and deposits payable Notes and accounts 158.4 154.2 -4.2 51.4 40.5 10.9 Advance payments receivable 75.5 88.0 -12.6 100.5 Interest-bearing debt Inventories 120.7 20.2 Others Others 25.5 109.0 115.5 -6.4 28.3 2.9 Fixed assets 274.6 268.4 6.2 Net assets 225.6 206.0 19.6 Common equity 189.7 185.1 4.5 172.8 155.3 17.5 Tangible assets Intangible assets Variations in estimates 51.0 49.3 1.7 6.5 6.3 0.2 and exchanges Investments and 78.4 77.0 1.5 Minority interests 1.8 1.3 0.5 other assets Total 611.2 600.9 10.3 Total 611.2 600.9 10.3 Ratio of interest - 12.3% -2.3% 14.7% bearing debt 2.6% Stockholders’ equity 36.6% 34.1% ratio 2007.11.1
1-5 Statements of Cash Flow Unit: JPY billion 1 st half of 1 st half of Category Change FY2007 FY2006 11.5 23.4 -12.0 Operating activities -6.2 9.9 -16.2 Working capital 38.6 31.0 7.6 Operating income before interest payment -20.9 -17.5 -3.4 Other -11.4 -2.5 -8.9 Investing activities Free cash flow 0 20.9 -20.9 -15.2 -32.1 16.8 Financing activities Increase or decrease in cash and cash -14.9 -10.5 -4.4 equivalents Cash and cash equivalents at end of year 32.8 33.6 -0.8 2007.11.1
1-6 Current Term Performance Forecasts • Higher earnings forecasted for fifth straight year and • Higher earnings forecasted for fifth straight year and increased profits (current term profits) forecasted for increased profits (current term profits) forecasted for seventh straight year. seventh straight year. Summary Summary • New records for orders received, sales, operating income, • New records for orders received, sales, operating income, ordinary income and current net income forecasted. ordinary income and current net income forecasted. ・ ・ Orders received: JPY 730 billion (forecasted: JPY 700 billion) Orders received: JPY 730 billion (forecasted: JPY 700 billion) ・ ・ Sales: JPY 660 billion (forecasted: JPY 650 billion) Sales: JPY 660 billion (forecasted: JPY 650 billion) ・ ・ Operating income: JPY 77 billion (forecasted: JPY 74 billion) Operating income: JPY 77 billion (forecasted: JPY 74 billion) Performance Performance ・ ・ Ordinary income: JPY 75 (forecasted: JPY 73 billion) Ordinary income: JPY 75 (forecasted: JPY 73 billion) ・ ・ Current net income: JPY 43 billion (forecasted: JPY 43 billion) Current net income: JPY 43 billion (forecasted: JPY 43 billion) * Forecasts are figures published in May 2007. * Forecasts are figures published in May 2007. 2007.11.1
1-7 FY2007 Forecast of Operating Results Unit: JPY billion 1 st half of 1 st half of FY2007 FY2006 FY2007 Actual FY2006 Actual Forecast Actual Orders 343.8 730.0 707.4 322.4 received Sales 305.1 660.0 600.3 273.4 Operating 35.0 77.0 64.2 26.8 income Operating income 11.5% 9.8% 11.7% 10.7% ratio Ordinary 35.0 75.0 65.3 27.7 income Ordinary income 11.5% 11.3% 10.9% 10.1% ratio Extraordinary -2.2 -1.6 -3.5 -2.4 income or loss 20.2 43.0 37.4 16.7 Net income Net income ratio 6.6% 6.1% 6.5% 6.2% JPY5 JPY3.5 JPY10 JPY7 Dividends 13.7% 12.2% ROIC (after tax) Projected exchange rate (US dollar) JPY 115 2007.11.1
1-8 FY2007 Forecast of Sales and Operating Income by Segment Unit: JPY billion 1 st half of 1 st half of FY2007 FY2006 FY2007 FY2006 Change Change Forecast Actual Actual Actual Sales 110.2 107.4 2.9 236.0 222.9 13.1 Mass-produced Operating income 12.7 14.0 -1.3 31.0 28.8 2.2 machinery Operating 11.5% 13.0% -1.5% 13.1% 12.9% 0.2% income ratio Sales 35.3 31.6 3.7 87.0 79.4 7.6 Environmental protection Operating income 1.9 0.1 2.0 5.5 4.5 1.0 facilities, plants Operating 5.4% -0.2% 5.6% 6.3% 5.6% 0.7% and others income ratio Sales 31.1 29.3 1.8 74.0 69.5 4.5 Ship, steel Operating income structure and 5.7 2.3 3.5 11.0 6.7 4.3 other specialized Operating 7 . 8 % 18.5% 10.7% 14.9% 9.7% 5.2% equipment income ratio Sales 38.5 28.9 9.6 80.0 68.3 11.7 Industrial Operating income 5.5 3.8 1.7 12.0 9.5 2.5 machinery Operating 14.3% 13.3% 1.0% 15.0% 14.0% 1.0% income ratio Sales 89.9 76.2 13.7 183.0 160.2 22.8 Construction Operating income 9.0 6.6 2.4 17.5 14.4 3.1 machinery Operating 10.0% 8.7% 1.3% 9.6% 9.0% 0.6% income ratio Total Sales 305.1 273.4 31.7 660.0 600.3 59.7 Operating income 35.0 26.8 8.2 77.0 64.2 12.8 Operating 11.5% 9.8% 1.7% 11.7% 10.7% 1.0% income ratio 2007.11.1
1-9 FY2007 Forecast of Orders Received and Sales by Segment Unit: JPY billion 800 Orders received Sales Operating income 100 730.0 707.4 77.0 80 660.0 64.2 17.5 60 189.0 14.4 603 168.1 600.3 47.5 12.0 600 9.5 8.5 11.0 40 551.3 183 5.8 6.7 5.5 4.1 4.5 136.4 160.2 20 89.0 93.6 31.0 30.0 126.4 28.8 0 80.0 68.7 -1.0 2007 89.0 68.3 2005 2006 400 56.1 Forecast 121.0 74.0 95.2 65.9 69.5 Construction machinery 113.0 90.0 87.0 82.1 79.4 Industrial machinery 83.6 Ship, steel structure and other 200 specialized equipment Environmental protection facilities, plants and others 250.0 234.7 236 221.0 222.9 219.1 Mass-produced machinery 0 2007 2007 2005 2006 2005 2006 Forecast Forecast 2007.11.1
November 1, 2007 (Thursday) Part 2: Management Strategy Progress of Medium-term Management Plan “Leap to Excellence ’07” Yoshinobu Nakamura, President and CEO 2007.11.1
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