Results Meeting for 1H of the Fiscal Year Ending March 2014

Transcription

1 Results Meeting for of the Fiscal Year Ending March 04 President and CEO Kenji Watanabe October 3, 03. Business Overview. Changes due to the External Environment 3. Progress of Business Plan 4. Performance Outlook of the Fiscal Year Ending March 04 P.- P.0 P. P.- Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04

2 . Business Overview A. Overview of of FY03 ) Overview (Consolidated) Actual for of FY03 (a) Actual for of FY0 (b) Difference YoY (c) = (a) (b) Difference YoY (%) (d) = (c) / (b) 00 (00 million yen) (rounded down to 00 million yen) Forecast for (announced on May 8) (e) Difference (compared with ) (f) = (a) (e) Difference (Compared to ) (%) (g) = (f) / (e) 00 Revenues 8,357 7, , Operating Income Ordinary Income Net Income 74 3 (38) (34.) (*) ) Business Indices Cumulative Total (Figures in parentheses are the results for the same period of the previous year.) Operating Income Margin.% (.0%) Ordinary Income Margin.7% (.6%) ROE.9% (4.7%) ROA.% (.8%) Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 (*) Revised s announced on September, 03

3 . Business Overview B. Trend of Revenues and Operating income for the past 5 years (00 mn yen) 0,000 Revenues (consolidated) Consolidated/Parent ratio of sales 7,64 8,043 8,09 7,987 8,357 (times).0 5, FY09. FY0. FY. FY. FY (00 mn yen) 300 Operating income (consolidated) FY09. FY0. FY. FY. FY3. Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04

4 . Business Overview C. Trend of Ordinary income and Net income for the past 5 years Ordinary income (consolidated) Net income (consolidated) (00 mn yen) FY09. FY0. FY. FY. FY3. Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 3

5 . Business Overview D. Overview by reportable segment ) Combined Business (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues 3,53 3, , Segment Income Revenues,784, Operating Income Margin (FY0) Segment Income (0.6) Overview Growth in income resulted from strong performance primarily of warehousing and delivery center business, along with the recovery in demand for automobile transportation Increase in profit associated with strengthening of marginal profit management and other cost containment drives ) Security Transportation (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues (0) (7.) (3) Segment Income 4 9 (4) (47.3) (5) Revenues (0) (7.) Operating Income Margin (FY0) Segment Income () (4.5). (.0) Overview Decrease in both income and profit due to decline in unit service price under tight business environment Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 4

6 . Business Overview D. Overview by reportable segment 3) eavy aulage & Construction (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues 8 9 (0) (5.4) Segment Income 0 8 (8) (44.5) Revenues Operating Income Margin (FY0) Segment Income 5 8 (3) (38.4) 5.9 (9.7) Overview Revenues in line with the level of the year earlier thanks to favorable progress of revenue from overseas constructions Decrease in profit due to decline in the number of large projects compared to the year earlier Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 5

7 . Business Overview D. Overview by reportable segment 4) Air Freight Forwarding (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues (54) (5.8) (79) Segment Income Revenues (3) (.9) Operating Income Margin (FY0) Segment Income (.8) Overview Decrease in income due to ongoing drop in the volume of export Increase in profit reflecting the costs kept low including air freight costs 5) Marine & arbor Transportation (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues Segment Income Revenues Operating Income Margin (FY0) Segment Income 3 () (.5) 3.6 (4.4) Overview Increase in income thanks to imports and coastal shipping services remaining solid along with exports bolstered by equipment transportation Decrease in profit as a result of decreased sales volume in overseas moving services from the year earlier Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 6

8 . Business Overview D. Overview by reportable segment 6) The Americas (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues (0) Segment Income Revenues Operating Income Margin (FY0) Segment Income (4.0) Overview Strong performance in warehousing and delivery and automobile transportation in the US, as well as automobile-related business in Mexico Revenue in line with the level of the year earlier excluding the impact of exchange rates Increase in profit thanks primarily to the reduction of costs including facility usage charges 7) Europe (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues Segment Income 3 5 () (3.8) (4) Revenues Operating Income Margin (FY0) Segment Income 3 (0) (4.6).5 (3.) Overview Decrease in both income and profit excluding the impacts of exchange rates and the newly consolidated subsidiaries Business remains tough in warehousing and intra-region transportation in addition to air freight and marine forwarding Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 7

9 . Business Overview D. Overview by reportable segment 8) East Asia (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues Segment Income 6 7 (0) (.6) 55. (5) Revenues Operating Income Margin (FY0) Segment Income (.4) Overview Decrease in income but increase in profit, excluding the impacts of exchange rates and the newly consolidated subsidiaries Forwarding for Europe and America yet to recover, resulting in poor performance 9) South Asia & Oceania (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues (0) Segment Income 5 0 (4) (46.4) (5) Revenues Operating Income Margin (FY0) Segment Income 3 4 () (3.6).8 (4.3) Overview Decrease in both income and profit excluding the impact of exchange rates Massive drop in air freight exports as backlash from the surge in emergency transportation following the flood in Thailand, with slight increase in warehousing and delivery, and automobile transportation Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 8

10 . Business Overview D. Overview by reportable segment 0) Goods Sales (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues,903, , Segment Income 0 3 () (37.5) (5) Revenues Operating Income Margin (FY0) Segment Income 0 () (5.9).0 (.3) Overview Increase in income associated with an increase in the unit sales price of oil despite decrease in sales volume Decrease in profit due to delayed recovery in the export package handling ) Other (00 million yen) Actual Comparison with FY0 Comparison with (announced on May 8) FY03 FY0 Difference Difference (%) Forecast Progress (%) Difference Revenues (7) Segment Income 6 6 (0) (0.3) (0) Revenues Operating Income Margin (FY0) Segment Income (4.7) Overview Increase in income thanks to the favorable logistics finance business at Nippon Express Capital Co., Ltd., however, income margin stagnated Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 9

11 . Changes due to the External Environment Change factors Change factors Impact of change in unit fuel price Impact of foreign exchange (weak yen) Consolidated ( Cumulative Total) Fuel cost: billion (cost increase) Revenues: +.39 billion Operating income: billion Average Light oil: Gasoline: eavy oil: of FY03.7/l 45.9/l 69.37/l Reference ( of FY0) ( 05.85) ( 37.55) ( 6.59) Average exchange rate for of FY03 (*) ( of FY0) USD: EUR: KD: RMB: ( 79.74) ( 03.45) ( 0.8) (.65) (*) The average exchange rates for of FY03 and FY0 are the reference rates. For the preparation of financial reports, average quarterly rates are applied to the quarterly results of businesses on a local currency basis. Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 0

12 3. Progress of Business Plan Nippon Express Group Corporate Strategy 05 - Innovation and Moving Forward - Progress of basic strategy Basic Strategy Item Progress 40% of sales from overseas-related business in FY05 Actual for of FY03 3.4% (Actual for FY0 9.7%) Further Expanding Our Global Logistics Business Strengthening Management Practices for Our Domestic Businesses Growth in the global market 3% of operating income margin for Domestic combined business in FY05 ) Establishment of Guanajuato Logistics Center (Mexico) ) Establishment of Nippon Express (Xi'an) Co., Ltd. (China) 3) Establishment of Nippon Express Global SCM(Shanghai) Co., Ltd. (China) 4) Establishment of aiphong Truck Control Center (Vietnam) Actual for of FY03.5% (Actual for FY0.0%) (Actual for of FY0 0.4%) Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04

13 4. Performance Outlook of the Fiscal Year Ending March 04 A. Consolidated (After adjustment) (00 million yen) FY03 Forecast (a) Actual for FY0 (b) Comparison with FY0 Difference (c) = (a) (b) Difference (%) (d) = (c) / (b) 00 (e) Adjustments to (announced on May 8) Difference (f) = (a) (e) Difference (%) (g) = (f) / (e) 00 Revenues 6,900 6, ,900 ±0 ±0.0 Operating Income Ordinary Income Net Income ±0 ±0.0 Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04

14 4. Performance Outlook of the Fiscal Year Ending March 04 B. Overview by reportable segment (After adjustment) ) Combined Business Forecast Comparison with FY0 Adjustments (00 million yen) FY03 FY0 Difference Difference (%) Revenues 7,0 6, , Segment Income Revenues 3,587 3, Segment Income Margin (FY0) Segment Income (.0).4 (.6) ) Security Transportation (00 million yen) Forecast Comparison with FY0 Adjustments FY03 FY0 Difference Difference (%) Revenues (40) (6.9) Segment Income 0 7 (7) (39.8) 6 (5) (33.7) Revenues (9) (6.7) Segment Income Margin (FY0) Segment Income 5 8 () (3.8).0 (3.0). (3.0) Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 3

15 4. Performance Outlook of the Fiscal Year Ending March 04 B. Overview by reportable segment (After adjustment) 3) eavy aulage & Construction Forecast Comparison with FY0 Adjustments (00 million yen) FY03 FY0 Difference Difference (%) Revenues (6) (7.) Segment Income 9 9 (0) (34.6) Revenues (6) (9.) Segment Income Margin (FY0) Segment Income 8 0 () (8.0) 5.6 (7.9) 5.5 (6.) Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 4

16 4. Performance Outlook of the Fiscal Year Ending March 04 B. Overview by reportable segment (After adjustment) 4) Air Freight Forwarding Forecast Comparison with FY0 Adjustments (00 million yen) FY03 FY0 Difference Difference (%) Revenues,786,8 (35) (.9),899 (3) (6.0) Segment Income Revenues Segment Income Margin (FY0) Segment Income (.) 3.0 (.4) 5) Marine & arbor Transportation (00 million yen) Forecast Comparison with FY0 Adjustments FY03 FY0 Difference Difference (%) Revenues,303, ,30 0. Segment Income () (.5) Revenues Segment Income Margin (FY0) Segment Income (3.8) 3.4 (.6) Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 5

17 4. Performance Outlook of the Fiscal Year Ending March 04 B. Overview by reportable segment (After adjustment) 6) The Americas Forecast Comparison with FY0 Adjustments (00 million yen) FY03 FY0 Difference Difference (%) Revenues (6) (.3) Segment Income Revenues Segment Income Margin (FY0) Segment Income (3.9) 4. (4.0) 7) Europe (00 million yen) Forecast Comparison with FY0 Adjustments FY03 FY0 Difference Difference (%) Revenues (8) (.5) Segment Income 7 5 (7) (50.8) (5) (66.8) Revenues Segment Income Margin (FY0) Segment Income 3 9 (5) (6.3). (3.5). (4.4) Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 6

18 4. Performance Outlook of the Fiscal Year Ending March 04 B. Overview by reportable segment (After adjustment) 8) East Asia Forecast Comparison with FY0 Adjustments (00 million yen) FY03 FY0 Difference Difference (%) Revenues Segment Income (3) (.) Revenues Segment Income Margin (FY0) Segment Income (.9) 3. (.5) 9) South Asia & Oceania (00 million yen) Forecast Comparison with FY0 Adjustments FY03 FY0 Difference Difference (%) Revenues (3) (.5) Segment Income 5 6 () (8.) (6) (7.8) Revenues Segment Income Margin (FY0) Segment Income (3.8) 3.7 (3.0) Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 7

19 4. Performance Outlook of the Fiscal Year Ending March 04 B. Overview by reportable segment (After adjustment) 0) Goods Sales Forecast Comparison with FY0 Adjustments (00 million yen) FY03 FY0 Difference Difference (%) Revenues 3,987 3, , Segment Income (8) (3.8) 56 (6) (.8) Revenues,083, Segment Income Margin (FY0) Segment Income (.5).4 (.3) ) Other (00 million yen) Forecast Comparison with FY0 Adjustments FY03 FY0 Difference Difference (%) Revenues 4 48 (7) (.7) 46 (5) (3.5) Segment Income 6 7 (0) (4.9) 7 () (6.3) Revenues 09 6 (7) (7.8) Segment Income Margin (FY0) Segment Income 9 0 (0) (7.6) 4.0 (4.) 4.8 (4.7) Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 8

20 4. Performance Outlook of the Fiscal Year Ending March 04 C. Assumptions for external factors Impact of change in unit fuel price Impact on consolidated results Fuel cost: billion (cost increase) Assumptions Average FY03 (Yearly average in FY0) Light oil:.0/l ( 06.93) Gasoline: 47.0/l ( 39.06) eavy oil: 68.53/l ( 6.07) Assumes the same of fuel will be used as that of the previous year. Impact of foreign exchange Revenues: billion Operating income: billion USD: EUR: KD: RMB: FY (FY0(*)) ( 79.89) ( 0.80) ( 0.30) (.70) *The exchange rates for FY0 used in the assumptions are the reference rates. For the preparation of financial reports, average quarterly rates are applied to the quarterly results of local businesses. Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 9

21 This document is not aimed to solicit or gain investments in any of our securities that are to be issued. The opinions and s in this document are based on information available at the time of creation of this document. We do not guarantee or commit to the accuracy of this information, and it may be altered without notice. We do not bear any responsibility for any damages caused by information contained in this document. Copyright 03 NIPPON EXPRESS, All rights reserved. Briefing Material of Results Meeting for of the Fiscal Year Ending March 04 0