This document provides an overview of NTN Corporation's financial results for the fiscal year ending March 31, 2020 and its plans going forward. Key points include:
- Net sales were 651.5 billion yen, below expectations due to COVID-19, with an operating income of 7.1 billion yen. An impairment loss of 29 billion yen was recorded.
- Issues going forward include further reducing fixed and variable costs, improving technology to reduce price competition, and securing sufficient cash.
- For fiscal year ending 2024, the goal is net sales of 700 billion yen and operating income of 42 billion yen, with a focus on improving ROIC through selection and concentration of businesses and structural
CFO Message in NTN Report 2021 (English Version)TETSUYA SOGO
1. The document discusses the financial results for the fiscal year ending March 31, 2021 and forecasts for the fiscal year ending March 31, 2022 for NTN Corporation.
2. For fiscal year 2021, net sales decreased due to COVID-19 but the company achieved an operating loss turnaround in the second half through cost reductions. However, an operating loss of 3.1 billion yen and loss attributable to owners of 11.6 billion yen were recorded.
3. For fiscal 2022, net sales are forecast to recover to 660 billion yen level with operating income planned at 15 billion yen through demand recovery and fixed cost control, though uncertainties like semiconductor shortages remain.
The document summarizes Sonoco's 2009 second quarter financial results. Key points:
- Net sales declined 21% year-over-year due to lower volumes, especially in industrial markets impacted by recession.
- Base earnings were $0.41 per share compared to $0.62 per share last year, with higher pension costs partially offsetting improvements from cost reductions.
- The Consumer Packaging segment saw a 6% sales decline but a 20% increase in operating profits due to price increases and productivity gains.
Suominen Corporation’s Interim Report for January 1 – March 31, 2016: Cash flow from operations improved markedly, net sales and operating profit declined, guidance for full year remains unchanged
- This document contains Quintiles' earnings presentation for the fourth quarter of 2014.
- Key highlights include 22.2% net new business growth, 9.3% constant currency service revenue growth, and 29.1% diluted adjusted earnings per share growth for Q4.
- For the full year 2014, Quintiles saw 10.1% constant currency service revenue growth, 31.1% diluted adjusted EPS growth, and $11.24 billion in diversified backlog.
DuPont reported a Q4 2008 loss of $0.70 per share, compared to earnings of $0.60 per share in Q4 2007. Excluding restructuring charges, the Q4 2008 loss was $0.28 per share. Global sales declined 17% to $5.8 billion due to a 20% drop in volume from weak demand, partially offset by 7% higher local prices. For 2009, DuPont expects earnings in the range of $2.00-$2.50 per share and continued weak demand, except in agriculture. The company will focus on $730 million in cost reductions and $1 billion in working capital reductions.
Third Quarter 2013 Investor PresentationCNOServices
- The document provides financial and operating results for CNO Financial Group for the third quarter of 2013.
- Key highlights include continued growth in sales and premiums across business segments, solid performance from core earnings drivers, and a strong capital and liquidity position.
- CNO deployed $222 million year-to-date for share repurchases and $18 million in dividends, while maintaining strong capital ratios and leverage.
This document brings together a set of latest data points and publicly available information relevant for Financial Services Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
CFO Message in NTN Report 2021 (English Version)TETSUYA SOGO
1. The document discusses the financial results for the fiscal year ending March 31, 2021 and forecasts for the fiscal year ending March 31, 2022 for NTN Corporation.
2. For fiscal year 2021, net sales decreased due to COVID-19 but the company achieved an operating loss turnaround in the second half through cost reductions. However, an operating loss of 3.1 billion yen and loss attributable to owners of 11.6 billion yen were recorded.
3. For fiscal 2022, net sales are forecast to recover to 660 billion yen level with operating income planned at 15 billion yen through demand recovery and fixed cost control, though uncertainties like semiconductor shortages remain.
The document summarizes Sonoco's 2009 second quarter financial results. Key points:
- Net sales declined 21% year-over-year due to lower volumes, especially in industrial markets impacted by recession.
- Base earnings were $0.41 per share compared to $0.62 per share last year, with higher pension costs partially offsetting improvements from cost reductions.
- The Consumer Packaging segment saw a 6% sales decline but a 20% increase in operating profits due to price increases and productivity gains.
Suominen Corporation’s Interim Report for January 1 – March 31, 2016: Cash flow from operations improved markedly, net sales and operating profit declined, guidance for full year remains unchanged
- This document contains Quintiles' earnings presentation for the fourth quarter of 2014.
- Key highlights include 22.2% net new business growth, 9.3% constant currency service revenue growth, and 29.1% diluted adjusted earnings per share growth for Q4.
- For the full year 2014, Quintiles saw 10.1% constant currency service revenue growth, 31.1% diluted adjusted EPS growth, and $11.24 billion in diversified backlog.
DuPont reported a Q4 2008 loss of $0.70 per share, compared to earnings of $0.60 per share in Q4 2007. Excluding restructuring charges, the Q4 2008 loss was $0.28 per share. Global sales declined 17% to $5.8 billion due to a 20% drop in volume from weak demand, partially offset by 7% higher local prices. For 2009, DuPont expects earnings in the range of $2.00-$2.50 per share and continued weak demand, except in agriculture. The company will focus on $730 million in cost reductions and $1 billion in working capital reductions.
Third Quarter 2013 Investor PresentationCNOServices
- The document provides financial and operating results for CNO Financial Group for the third quarter of 2013.
- Key highlights include continued growth in sales and premiums across business segments, solid performance from core earnings drivers, and a strong capital and liquidity position.
- CNO deployed $222 million year-to-date for share repurchases and $18 million in dividends, while maintaining strong capital ratios and leverage.
This document brings together a set of latest data points and publicly available information relevant for Financial Services Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
Second Quarter of Fiscal Year Ending March 2018 (FY2017)Briefing on Financial...RicohLease
This document provides a briefing on Ricoh Leasing Company's financial results for the second quarter of Fiscal Year 2017, which ended in September 2017. It discusses the company's consolidated results including record high net sales and operating profit that progressed as expected. It also reviews performance by business segment and topics covered in the company's mid-term management plan, including initiatives in expanding their environmental business. The briefing includes forecasts for the full fiscal year and provides key financial metrics and trends.
- Kodak's net sales decreased 7% in Q2 2007 compared to Q2 2006, primarily due to declines in volumes and prices across many business units. However, gross profits increased 14% due to cost reductions.
- Digital revenues increased 3% led by enterprise solutions, while traditional revenues declined 17% due to declines in film capture and retail printing.
- Consumer Digital Imaging Group sales declined 10% due to volume and price declines, but gross profits increased 23% due to cost reductions.
- Film Products Group sales declined 15% due to declines in consumer film capture, but gross profits declined only slightly.
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Rexnord Corporation (RXN) Q2 Fiscal Year 2020 Financial ResultsRexnord
Consolidated Rexnord
• 2Q net sales decrease (1%) year over year, core growth(1)flat
• Adjusted EBITDA(1) increases 3% year over year to $118 million
• Simplification initiative reduces sales growth by approximately 150 bps year over year
Water Management
• 2Q net sales increase +5% year over year, core growth +4%
• Adjusted EBITDA margin expands to record 27.4%
Process & Motion Control
• 2Q net sales decrease (3%) year over year, core growth (2%), currency translation (2%)
• Simplification actions reduce sales growth by approximately 200 bps
• Margins expand with solid operating execution, SCOFR 2.0 structural cost reductions
Cash Flow & Balance Sheet
• Net debt leverage ratio(1) down to 2.0x
To view this presentation - or any of our previously published financial quarter presentations - please visit https://investors.rexnordcorporation.com/events-and-presentations/presentations/default.aspx
- Illinois Tool Works reported a loss of 6 cents per share in the first quarter of 2009 compared to earnings of 70 cents per share in the first quarter of 2008. Revenues declined 24% due to weak global end markets.
- The company recorded $90 million in impairment charges and $28 million in tax charges in the quarter. Excluding these charges, earnings would have been 17 cents per share.
- Cash flow from operations remained strong at $447 million in the quarter, driven by reductions in working capital. The company expects revenues to increase 5-11% in the second quarter and forecasts earnings of 25-37 cents per share.
Eastman Kodak Company reported financial results for the fourth quarter and full year of 2007. Key highlights include:
- Q4 earnings of $92 million, up from a $15 million loss in the year-ago period. Digital revenue grew 15% in Q4 driven by growth in all digital businesses.
- The company met or exceeded all 2007 financial goals including an 8% increase in digital revenue, $176 million in digital earnings, and $333 million in net cash generation.
- Sales totaled $3.22 billion for Q4, up 4% from the prior year. Digital revenue was $2.26 billion, up 15%, while traditional revenue declined 15%.
-
- Klöckner & Co SE reported Q3 2011 results, with sales up 8.0% to €1.885 billion but EBITDA down 39.7% to €37 million due to price deterioration and margin contraction.
- For the first 9 months of 2011, sales increased 17.1% to €5.357 billion while EBITDA rose 6.8% to €203 million.
- The company launched a profitability action plan targeting a 1% EBITDA margin increase annually through restructuring and divestitures.
- Accenture reported financial results for Q4 FY2009, with revenues of $5.15B for Q4 and $21.58B for the full year.
- The company delivered record annual free cash flow of $2.92B and annual new bookings of $23.90B.
- Accenture increased its annual cash dividend by 50% to $0.75 per share and approved $4B in additional share repurchases.
Invacare Corporation Fourth Quarter & Full year 2019 resultsrperezfont
- The document outlines Invacare Corporation's 4th quarter and full year 2019 financial performance and 2020 focus areas.
- For 2019, operating loss improved 43.1% due to lower SG&A expenses and actions to streamline operations and expand gross profit margins. Adjusted EBITDA improved $22.1 million.
- For 2020, Invacare will focus on sales growth through new products, cost optimization, and process improvements to drive further profitable growth.
- Sales increased 3.5% in Q4 2006 driven by higher volume and price increases offsetting material inflation. However, operating margin declined due to changes in LIFO reserves and higher marketing costs.
- Full year sales grew modestly on an adjusted organic basis while gross and operating margins increased, helped by restructuring savings. However, higher expenses including stock options weighed on margins.
- The company completed $90-100M in restructuring actions in 2006 and expects $45M in annual savings in 2007, with $11-13M more from new 2007 actions.
- Aetna reported its second quarter 2005 results, with operating earnings of $1.20 per share, up 27% from the prior year quarter. Net income was $1.35 per share, a 50% increase.
- Total revenues increased 13% to $5.5 billion, driven by higher membership levels and premium/fee increases. Medical membership increased by 60,000 in the quarter.
- The company reaffirmed its full-year EPS guidance of $4.52-$4.57 despite increased spending on Medicare programs and higher interest expenses.
A. Schulman reported fiscal fourth-quarter and full-year 2009 results, with strong margins and excellent liquidity. For the quarter, gross margins reached 16.3% compared to 12.1% last year. North America approached break-even despite lower volumes. Cash on hand exceeded $228 million with over $300 million available in credit lines. For the full year, net sales were $1.28 billion, down 35.5% from last year. Gross margins increased to 13.3% from 11.8% last year, and income from continuing operations was $11.2 million.
Klöckner & Co - UBS Best of Germany Conference, September 17, 2013Klöckner & Co SE
- Klöckner & Co's Q2 2013 financial results showed declines in turnover, sales, and gross profit compared to Q2 2012 due to weak steel markets and ongoing restructuring efforts. The EBITDA of €43m met guidance due to cost reductions from restructuring measures.
- Turnover decreased 9.3% to €1,698m and sales decreased 13.5% to €1,690m as a result of market declines, site closures, and exiting low-margin business. However, the gross margin improved.
- Restructuring measures have significantly reduced costs and are on track to achieve the targeted annual EBITDA impact of around €160m, with €17m
Equity Consulting Report PowerPoint Presentation Slides is a virtual tool for financial analysts to compile their investment research insights. This private financing PPT theme is replete with data visualization tools. Use pie charts, tabular formats, and other kinds of diagrams to present information about the target company’s financial health. Our equity investment analysis PowerPoint slideshow incorporates state of the art design elements. Using this equity valuation PPT presentation you can consolidate a visually-appealing financial ratio analysis. Build a crisp industry overview involving competitive environment analysis and the latest industry trends. Our investment research PowerPoint templates help you to compile valuation analysis using various methods. Risk assessment is another important aspect that you can address with the help of this Equity research PPT slideshow. Elaborate on the types of risks like currency risk, inflation risk, and so on. Private equity consulting even helps you to identify and portray the intensity of each type of risk. https://bit.ly/3kuXvnu
Mitsubishi electric 3Q financial results of Fiscal 2009earningsreport
Mitsubishi Electric announced consolidated financial results for the first 9 months and third quarter of fiscal year 2009. Net sales decreased 3% for the first 9 months and 11% for the third quarter compared to the previous year. Operating income decreased 13% and 45% respectively due to decreased sales across several business segments. Mitsubishi Electric also revised downward their full year earnings forecast, expecting net sales to decrease 11% and net income to decrease 94% from the previous year due to continued weak economic conditions.
Hitachi announced its financial results for the second quarter of fiscal year 2008, ended September 30, 2008. Consolidated revenues remained flat at 2.76 trillion yen, while operating income rose 23% to 119.3 billion yen. However, net loss was 17.3 billion yen, an improvement of 17.9 billion yen from the previous year. For the first half of fiscal year 2008, revenues were essentially flat at 5.31 trillion yen while operating income rose 62% to 197 billion yen and net income improved to 14.1 billion yen.
Morgan Stanley reported $928 million in net income for Q2 2005, down 24% from Q2 2004. Revenue was $6 billion, down 9% from the prior year. Business highlights included record results in prime brokerage and $3.8 billion in net new retail assets. While most business segments saw lower earnings, advisory revenues increased 10% and the company maintained its leading position in global M&A.
Google announced its financial results for the first quarter of 2009. While revenues were down slightly from the previous quarter, they grew 6% over the first quarter of 2008. Operating income was $1.88 billion, or 34% of revenues. Net income was $1.42 billion, with earnings per share of $4.49. The company continued to see strong growth in paid clicks and remains focused on long-term investments.
Klöckner & Co - Credit Suisse Global Steel and Mining Conference, September 1...Klöckner & Co SE
The CEO of Klöckner & Co SE presented at the Credit Suisse Global Steel and Mining Conference in London on September 19, 2013. The presentation summarized that while steel markets declined, especially in Europe, Klöckner improved its EBITDA margin through extensive restructuring measures. Over 1,800 of 2,000 targeted job cuts and the closure of 60 out of 70 sites were completed. The restructuring contributed €17 million to EBITDA in Q2 2013 and €29 million in the first half of the year. For full year 2013, Klöckner aims to reach the prior year's operating EBITDA level of €140 million despite a weaker first half, through continued restructuring.
The document contains an accounting exam for ACCT1101 with 5 questions. Question 1 has parts (a) and (b) calculating cash paid to suppliers, employees and others as well as net cash from investing activities for Bunney Ltd. Question 2 involves calculating ending inventory under FIFO, LIFO and weighted average for Ben's Bargain. Question 3 analyzes liquidity and profitability ratios for Securitie Ltd over 2 years. Question 4 requires stating whether accounting statements are true or false. Question 5 includes preparing an inventory and purchase budget for Mattress World and calculating budgeted cash payments for Moon Ltd. The exam tests accounting concepts such as financial statements, ratio analysis, inventory valuation and budgeting.
1. NTN's financial results for FY2019 showed a net loss of 44 billion yen, the worst in company history. This was largely due to an impairment loss of 29 billion yen related to unprofitable factories and businesses.
2. The impairment loss was significantly higher than initial estimates of under 2 billion yen due to the auditor requiring COVID-19's impact to be included in calculations. This led to more conservative business forecasts and higher impairment losses.
3. Several cost cutting measures were undertaken, leading to reductions in labor costs and expenses. However, declining sales volumes had a major negative scale effect on profits, and price competition in the automotive sector continued to be a challenge.
CFO Message in NTN Report 2022 (English Version)TETSUYA SOGO
The document discusses the company's financial forecasts for the fiscal year ending March 2023. It expects net sales of 720 billion yen, operating income of 23 billion yen, and profit attributable to owners of parent of 10 billion yen. It cites factors like price increases, cost reductions, and exchange rates. The company aims to reduce debt and resume dividend payments according to its revitalization scenario by thoroughly implementing measures to address high material costs and unstable revenues.
Second Quarter of Fiscal Year Ending March 2018 (FY2017)Briefing on Financial...RicohLease
This document provides a briefing on Ricoh Leasing Company's financial results for the second quarter of Fiscal Year 2017, which ended in September 2017. It discusses the company's consolidated results including record high net sales and operating profit that progressed as expected. It also reviews performance by business segment and topics covered in the company's mid-term management plan, including initiatives in expanding their environmental business. The briefing includes forecasts for the full fiscal year and provides key financial metrics and trends.
- Kodak's net sales decreased 7% in Q2 2007 compared to Q2 2006, primarily due to declines in volumes and prices across many business units. However, gross profits increased 14% due to cost reductions.
- Digital revenues increased 3% led by enterprise solutions, while traditional revenues declined 17% due to declines in film capture and retail printing.
- Consumer Digital Imaging Group sales declined 10% due to volume and price declines, but gross profits increased 23% due to cost reductions.
- Film Products Group sales declined 15% due to declines in consumer film capture, but gross profits declined only slightly.
This document brings together a set
of latest data points and publicly
available information relevant for
Platforms & Applications
Technology. We are very excited to
share this content and believe that
readers will benefit from this @itshades.com
About Us
Who We are Aim of this T-Byte Reasons to talk to us
ITShades.com has been founded with
singular aim of engaging and
enabling the best and brightest of
businesses, professionals and
students with opportunities,
learnings, best practices,
collaboration and innovation from IT
industry.
This document brings together a set
of latest data points and publicly
available information relevant for
Platforms & Applications
Technology. We are very excited to
share this content and believe that
readers will benefit from this
periodic publication immensely.
Rexnord Corporation (RXN) Q2 Fiscal Year 2020 Financial ResultsRexnord
Consolidated Rexnord
• 2Q net sales decrease (1%) year over year, core growth(1)flat
• Adjusted EBITDA(1) increases 3% year over year to $118 million
• Simplification initiative reduces sales growth by approximately 150 bps year over year
Water Management
• 2Q net sales increase +5% year over year, core growth +4%
• Adjusted EBITDA margin expands to record 27.4%
Process & Motion Control
• 2Q net sales decrease (3%) year over year, core growth (2%), currency translation (2%)
• Simplification actions reduce sales growth by approximately 200 bps
• Margins expand with solid operating execution, SCOFR 2.0 structural cost reductions
Cash Flow & Balance Sheet
• Net debt leverage ratio(1) down to 2.0x
To view this presentation - or any of our previously published financial quarter presentations - please visit https://investors.rexnordcorporation.com/events-and-presentations/presentations/default.aspx
- Illinois Tool Works reported a loss of 6 cents per share in the first quarter of 2009 compared to earnings of 70 cents per share in the first quarter of 2008. Revenues declined 24% due to weak global end markets.
- The company recorded $90 million in impairment charges and $28 million in tax charges in the quarter. Excluding these charges, earnings would have been 17 cents per share.
- Cash flow from operations remained strong at $447 million in the quarter, driven by reductions in working capital. The company expects revenues to increase 5-11% in the second quarter and forecasts earnings of 25-37 cents per share.
Eastman Kodak Company reported financial results for the fourth quarter and full year of 2007. Key highlights include:
- Q4 earnings of $92 million, up from a $15 million loss in the year-ago period. Digital revenue grew 15% in Q4 driven by growth in all digital businesses.
- The company met or exceeded all 2007 financial goals including an 8% increase in digital revenue, $176 million in digital earnings, and $333 million in net cash generation.
- Sales totaled $3.22 billion for Q4, up 4% from the prior year. Digital revenue was $2.26 billion, up 15%, while traditional revenue declined 15%.
-
- Klöckner & Co SE reported Q3 2011 results, with sales up 8.0% to €1.885 billion but EBITDA down 39.7% to €37 million due to price deterioration and margin contraction.
- For the first 9 months of 2011, sales increased 17.1% to €5.357 billion while EBITDA rose 6.8% to €203 million.
- The company launched a profitability action plan targeting a 1% EBITDA margin increase annually through restructuring and divestitures.
- Accenture reported financial results for Q4 FY2009, with revenues of $5.15B for Q4 and $21.58B for the full year.
- The company delivered record annual free cash flow of $2.92B and annual new bookings of $23.90B.
- Accenture increased its annual cash dividend by 50% to $0.75 per share and approved $4B in additional share repurchases.
Invacare Corporation Fourth Quarter & Full year 2019 resultsrperezfont
- The document outlines Invacare Corporation's 4th quarter and full year 2019 financial performance and 2020 focus areas.
- For 2019, operating loss improved 43.1% due to lower SG&A expenses and actions to streamline operations and expand gross profit margins. Adjusted EBITDA improved $22.1 million.
- For 2020, Invacare will focus on sales growth through new products, cost optimization, and process improvements to drive further profitable growth.
- Sales increased 3.5% in Q4 2006 driven by higher volume and price increases offsetting material inflation. However, operating margin declined due to changes in LIFO reserves and higher marketing costs.
- Full year sales grew modestly on an adjusted organic basis while gross and operating margins increased, helped by restructuring savings. However, higher expenses including stock options weighed on margins.
- The company completed $90-100M in restructuring actions in 2006 and expects $45M in annual savings in 2007, with $11-13M more from new 2007 actions.
- Aetna reported its second quarter 2005 results, with operating earnings of $1.20 per share, up 27% from the prior year quarter. Net income was $1.35 per share, a 50% increase.
- Total revenues increased 13% to $5.5 billion, driven by higher membership levels and premium/fee increases. Medical membership increased by 60,000 in the quarter.
- The company reaffirmed its full-year EPS guidance of $4.52-$4.57 despite increased spending on Medicare programs and higher interest expenses.
A. Schulman reported fiscal fourth-quarter and full-year 2009 results, with strong margins and excellent liquidity. For the quarter, gross margins reached 16.3% compared to 12.1% last year. North America approached break-even despite lower volumes. Cash on hand exceeded $228 million with over $300 million available in credit lines. For the full year, net sales were $1.28 billion, down 35.5% from last year. Gross margins increased to 13.3% from 11.8% last year, and income from continuing operations was $11.2 million.
Klöckner & Co - UBS Best of Germany Conference, September 17, 2013Klöckner & Co SE
- Klöckner & Co's Q2 2013 financial results showed declines in turnover, sales, and gross profit compared to Q2 2012 due to weak steel markets and ongoing restructuring efforts. The EBITDA of €43m met guidance due to cost reductions from restructuring measures.
- Turnover decreased 9.3% to €1,698m and sales decreased 13.5% to €1,690m as a result of market declines, site closures, and exiting low-margin business. However, the gross margin improved.
- Restructuring measures have significantly reduced costs and are on track to achieve the targeted annual EBITDA impact of around €160m, with €17m
Equity Consulting Report PowerPoint Presentation Slides is a virtual tool for financial analysts to compile their investment research insights. This private financing PPT theme is replete with data visualization tools. Use pie charts, tabular formats, and other kinds of diagrams to present information about the target company’s financial health. Our equity investment analysis PowerPoint slideshow incorporates state of the art design elements. Using this equity valuation PPT presentation you can consolidate a visually-appealing financial ratio analysis. Build a crisp industry overview involving competitive environment analysis and the latest industry trends. Our investment research PowerPoint templates help you to compile valuation analysis using various methods. Risk assessment is another important aspect that you can address with the help of this Equity research PPT slideshow. Elaborate on the types of risks like currency risk, inflation risk, and so on. Private equity consulting even helps you to identify and portray the intensity of each type of risk. https://bit.ly/3kuXvnu
Mitsubishi electric 3Q financial results of Fiscal 2009earningsreport
Mitsubishi Electric announced consolidated financial results for the first 9 months and third quarter of fiscal year 2009. Net sales decreased 3% for the first 9 months and 11% for the third quarter compared to the previous year. Operating income decreased 13% and 45% respectively due to decreased sales across several business segments. Mitsubishi Electric also revised downward their full year earnings forecast, expecting net sales to decrease 11% and net income to decrease 94% from the previous year due to continued weak economic conditions.
Hitachi announced its financial results for the second quarter of fiscal year 2008, ended September 30, 2008. Consolidated revenues remained flat at 2.76 trillion yen, while operating income rose 23% to 119.3 billion yen. However, net loss was 17.3 billion yen, an improvement of 17.9 billion yen from the previous year. For the first half of fiscal year 2008, revenues were essentially flat at 5.31 trillion yen while operating income rose 62% to 197 billion yen and net income improved to 14.1 billion yen.
Morgan Stanley reported $928 million in net income for Q2 2005, down 24% from Q2 2004. Revenue was $6 billion, down 9% from the prior year. Business highlights included record results in prime brokerage and $3.8 billion in net new retail assets. While most business segments saw lower earnings, advisory revenues increased 10% and the company maintained its leading position in global M&A.
Google announced its financial results for the first quarter of 2009. While revenues were down slightly from the previous quarter, they grew 6% over the first quarter of 2008. Operating income was $1.88 billion, or 34% of revenues. Net income was $1.42 billion, with earnings per share of $4.49. The company continued to see strong growth in paid clicks and remains focused on long-term investments.
Klöckner & Co - Credit Suisse Global Steel and Mining Conference, September 1...Klöckner & Co SE
The CEO of Klöckner & Co SE presented at the Credit Suisse Global Steel and Mining Conference in London on September 19, 2013. The presentation summarized that while steel markets declined, especially in Europe, Klöckner improved its EBITDA margin through extensive restructuring measures. Over 1,800 of 2,000 targeted job cuts and the closure of 60 out of 70 sites were completed. The restructuring contributed €17 million to EBITDA in Q2 2013 and €29 million in the first half of the year. For full year 2013, Klöckner aims to reach the prior year's operating EBITDA level of €140 million despite a weaker first half, through continued restructuring.
The document contains an accounting exam for ACCT1101 with 5 questions. Question 1 has parts (a) and (b) calculating cash paid to suppliers, employees and others as well as net cash from investing activities for Bunney Ltd. Question 2 involves calculating ending inventory under FIFO, LIFO and weighted average for Ben's Bargain. Question 3 analyzes liquidity and profitability ratios for Securitie Ltd over 2 years. Question 4 requires stating whether accounting statements are true or false. Question 5 includes preparing an inventory and purchase budget for Mattress World and calculating budgeted cash payments for Moon Ltd. The exam tests accounting concepts such as financial statements, ratio analysis, inventory valuation and budgeting.
1. NTN's financial results for FY2019 showed a net loss of 44 billion yen, the worst in company history. This was largely due to an impairment loss of 29 billion yen related to unprofitable factories and businesses.
2. The impairment loss was significantly higher than initial estimates of under 2 billion yen due to the auditor requiring COVID-19's impact to be included in calculations. This led to more conservative business forecasts and higher impairment losses.
3. Several cost cutting measures were undertaken, leading to reductions in labor costs and expenses. However, declining sales volumes had a major negative scale effect on profits, and price competition in the automotive sector continued to be a challenge.
CFO Message in NTN Report 2022 (English Version)TETSUYA SOGO
The document discusses the company's financial forecasts for the fiscal year ending March 2023. It expects net sales of 720 billion yen, operating income of 23 billion yen, and profit attributable to owners of parent of 10 billion yen. It cites factors like price increases, cost reductions, and exchange rates. The company aims to reduce debt and resume dividend payments according to its revitalization scenario by thoroughly implementing measures to address high material costs and unstable revenues.
This document brings together a set
of latest data points and publicly
available information relevant for
Automotive Industry. We are very
excited to share this content and
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TIM - Financial information at March 31, 2019Gruppo TIM
- TIM Group reported financial results for Q1 2019, showing evidence that new management's focus on cost reduction and process redesign is improving cash generation. Net debt decreased by €190M and operating free cash flow increased by €541M compared to Q1 2018.
- Group revenues were €4.5B, down 2.9% YoY. Service revenues were €4.1B, down 3.0% YoY mainly due to Sparkle closing low-margin contracts. Excluding this impact, service revenues declined 2.0% at Group level and 2.7% for the Domestic business unit.
- Organic EBITDA was €1.8B, down 2.1
This document brings together a set
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This document brings together a set of latest data points and publicly available information relevant for Agile & AI Operations Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
This document brings together a set of latest data points and publicly available information relevant for Insurance Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
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believe that readers will benefit from
this periodic publication immensely.
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CFO Message in NTN Report 2020 (English Version)
1. Summary
As for the fiscal year ended March 31, 2020, we announced the
outlook for net sales of 680.0 billion yen and operating income
of 10.0 billion yen at our Financial Settlement Briefing Meeting
for the third quarter that was held in February prior to the
impact of the new coronavirus (COVID-19). However, the result
was that net sales was 651.5 billion yen, substantially below
expectations, largely due to the spread of COVID-19 in the
fourth quarter.
Meanwhile, we tried to increase operating income as much as
possible by thoroughly reducing fixed costs such as expenses
and personnel costs in particular, thereby maintaining a level of
7.1 billion yen. Although we maintained a positive level of
operating income, we posted a net loss of 44.0 billion yen, the
worst figure in NTN's history. This was mainly due to the
recording of extraordinary losses of 34.2 billion yen in particular,
including an impairment loss of 29.0 billion yen as well as the
recording of a loss of 1.8 billion yen on dissolution of
unprofitable joint ventures in China and South Korea that have
no prospect of recovery as non-operating expenses.
Impairment loss
Regarding our manufacturing business units, plants and
affiliated companies (CGU: Cash Generating Unit) that are
expected to experience a significant deterioration in
profitability in the future, we make it a rule to explain, discuss
and agree with the auditing firm on our business plan for the
average remaining depreciation periods (about 7 to 8 years) of
production machinery we have in each of our CGU mentioned
above for our impairment examination and calculation. We
calculate the business value (net present value of free cash flow
generated and net realizable value of the land and building) for
each CGU, and if it is lower than its respective current book
value of tangible fixed assets, we will write off the difference
between them. Consequently, impairment loss means that the
value of such business is less than the book value of property,
plant and equipment for its business activities, and we recorded
impairment loss of 17.0 billion yen at NTN Corporation and five
affiliated companies in Japan in the fiscal year ended March 31,
2019. In addition to external factors such as declining sales due
to changes in economic conditions, exchange-rates, steel
material prices and tariffs, as the competitive environment is
changing and becoming more intense globally, our competitive
advantage as a whole has gradually deteriorated particularly in
Japan, making us unable to create sufficient business value. We
did not estimate major impairment loss in the fiscal year ended
March 31, 2020 as in the previous year by promoting measures,
aimed at enhancing each business value, primarily at our CGUs
in Japan, such as normalizing the burden of expenses with
overseas operations, raising prices of unprofitable products,
withdrawing from unprofitable business lines, and
strengthening aftermarket business. However, after discussions
with the auditing firm, we determined that the measurement of
impairment loss would have to reflect the impact of COVID-19.
As a result, impairment loss of 29.0 billion yen was recorded, of
which 22.0 billion yen was in Japan and 7.0 billion yen was in
overseas business sites. The impairment loss of 29.0 billion yen
in the fiscal year ended March 31, 2020 was calculated on the
basis of a very conservative assumption that net sales in the
fiscal year ending March 31, 2021 would decline 20% from net
sales in the business plan prior to the impact of COVID-19, the
level of net sales in the fiscal year ending March 31, 2022 would
still not recover to 100%, and the level of net sales would not
increase and would stay flat in the remaining years of
depreciation. As a result of this impairment loss, the amount of
depreciation will be reduced by 3.5 billion yen per year in the
future.
Remaining issues to improve our financial structure
In the fiscal year ended March 31, 2020, we reduced fixed costs
by 6.9 billion in personnel costs, 9.2 billion yen in expenses, as
well as variable costs by 3.1 billion yen, including 3.6 billion yen
in our general continuous cost reduction. However, the negative
impact of the scale reduction of 33.9 billion yen was extremely
significant, and operating income decreased significantly. The
first issue is how much variable costs can be reduced through
promotion of global procurement, as the amount of cost
reduction is declining year by year. Furthermore, as for the
impact of the scale reduction effect, decreased sales volume
was 62.4 billion yen excluding the impact of exchange rates and
sales price fluctuations. On the other hand, for the entire NTN
Group, the ratio of variable costs to sales is about 55%, and
therefore our consolidated marginal profit ratio is 45%. Due to
this, the scale reduction effect on operating income will be 28.0
billion yen. However, as we have decreased inventories
drastically in line with a decrease in sales in the fiscal year ended
March 31, 2020, production volume dropped by 87.0 billion yen,
resulting in minus 33.9 billion yen due to the scale reduction
effect causing an additional reduction in the production
volume. The second issue is how to further reduce fixed costs
such as personnel costs and expenses, assuming that the
negative impact on operating income will be extremely
significant because of a further reduction of inventories to
ensure cash flow in the fiscal year ending March 31, 2021, as
sales will decrease more drastically in that fiscal year. In
particular, head office expenses need to be thoroughly
reviewed in order to concentrate on improving strategic
capabilities and shared service functions in the future. The sales
price level was down 2.5 billion yen year on year, and this came
mainly from a decrease of 5.8 billion yen in the sales price level
for automotive OEM business only. The third issue therefore is
how to differentiate ourselves from competitors in terms of
technology and services to move away from intensified price
competition, thereby reducing discounts and raising prices,
particularly in our OEM businesses, where operating margin is
noticeably declining.
Along with addressing the above issues, Finance HQ will
continue to support and follow our“Global Value Creation
Activities”through our new“Decision Making System of
Investments”and“Evaluation System of Business Performances”
based on the shared concept of“Cost of Capital”for each
business location, which we introduced in the fiscal year ended
March 31, 2020.
1 Strengthen global management capabilities for decision and
follow-up of major investments that directly lead to
improvement of corporate value through thorough
implementation of our new valuation standard for
investments based on NPV and IRR
2 Monitor the status of corporate value creation in each business,
region, and company by thoroughly evaluating business
performance using EVA and ROIC, and strengthen the
organizational system to clarify issues and respond to them
3 Through the measures listed in 1 and 2 above, establish the
base of“Global Learning Organization”that implements the
most effective measures autonomously and promptly to
maximize the value in each business, region, and company
while they communicate closely with each other
Impairment loss in fiscal year
ended March 31, 2020:
29.0 billion yen
• Japan 22.0 billion yen NTN (non-consolidated) 12.7 billion yen
Affiliated company (8 companies) 9.3 billion yen
• Overseas 7.0 billion yen Americas (1 company) 5.5 billion yen
Europe (1 company) 1.5 billion yen
Impairment loss in fiscal year
ended March 31, 2019:
17.0 billion yen
• Japan 17.0 billion yen NTN (non-consolidated) 5.3 billion yen
Affiliated company (5 companies) 11.7 billion yen
NTN Revitalization Story
Executive Officer
CFO (Chief Financial Officer)
CFO Message
Toward Establishing a Management Base
to Realize Sustainable Growth
as a Global Company
Tetsuya Sogo
Financial results for the fiscal year ended March 2020
Breakdown of impairment loss
In the fiscal year ending March 31, 2021, which is regarded as the
Crisis Respond Period, we will ensure the safety of employees,
endeavor to survive on a sharply falling sales scale, and prepare
for recovery from the fiscal year ending March 31, 2022.
Securing sufficient cash
We explained our Revitalization Scenario to our main financing
bank and secured 100.0 billion yen of funds, including under
commitment line agreements with our main financing banks.
Obtaining a commitment line means that we can borrow from a
bank at any time within the amount and period of the
commitment line. It is roughly estimated that the amount of
100.0 billion yen is an additional amount, which is sufficient to
sustain ourselves in the event of a 30% decline in annual sales.
At the same time, we will consider and promote the utilization
of factoring (liquidation of receivables) not only in Japan but
also at overseas locations, and aim to collect and utilize surplus
funds globally.
Restraining outflow of funds
While securing sufficient funds, we will thoroughly restrain the
outflow of funds. To achieve this, we will first limit capital
expenditures to 20.0 billion yen. Within this scope, we thoroughly
examine the minimum investments required, but in principle, we
will freeze new investments to expand capacity and prioritize the
Major actions during the Crisis Response Period
Fiscal year ended
March 31, 2019
Fiscal year ended
March 31, 2020
Net sales 733.6 651.5
Operating income 26.9 7.1
Operating margin (3.7%) (1.1%)
Ordinary income 22.2 -1.7
Extraordinary income or loss -19.3 -32.3
Net income attributable to
shareholder (parent com-pany)
-7.0 -44.0
Exchange rates
US$ 110.9 108.7
EURO 128.4 120.8
Consolidated financial results (Billions of yen)
Fiscal year
ended
March 31,
2020
Operating
income 7.1
Sales effects
33.9
Sales price
level 2.5 Exchange
rates 2.7
Expenses etc. 9.2
(Depreciation 0.7, Other 8.5)
-19.9
Decrease in
variable
costs 3.1
Positive factors
(19.2)
Decrease in
personnel
costs 6.9
Fiscal year ended March 31, 2019 vs Fiscal year ended March 31, 2020
Fiscal year
ended
March 31,
2019
Operating
income
26.9
Negative factors
(39.1)
Analysis of Operating Income *All figures are in billion yen
NTN ReportNTN Report23 242020 2020
Company/StockInformationFinancialDataESGStrategiesBusinessStrategiesNTNRevitalizationStoryAboutUs
2. 2018 2019 2020 2021 2022 2023 2024
0
0.5
1.0
1.5
2.0
2.5
3.0
-5.0
0.0
5.0
(%)
Crisis Response Period New Mid-term Management Plan
ROICNet DE Ratio
Net DE Ratio
(Fiscal years ended/ending March 31)
Fiscal year ended March 31, 2018 (Results)
Net sales: 744.4 billion yen
Operating income: 39.6 billion yen
Fiscal year ending March 31, 2024 (new mid-term plan)
Net sales: 700.0 billion yen (700.0-750.0 billion yen)
Operating income: 42.0 billion yen (6% or more)
Fiscal year ended March 31, 2019 (Results)
Selection and
Concentration
Net sales: 651.5 billion yen
Operating income: 7.1 billion yen
ROIC
1. Sales of assets
2. Business integration
and closure
Structural
Reform
1. Fundamental review of marketing and pricing strategy
2. Strengthen production control and inventory control
3. Break away from self-sufficiency
(Break away from self-sufficiency and drastically reduce
capital expenditure)
Since the fiscal year ended March 31, 2020, we have been
explaining overview of our Revitalization Scenario through
interviews with analysts and rating agencies and other means.
At the Financial Settlement Briefing Meeting for 2019, we were
asked the reasons why the implementation of the plan was
delayed and the extent of the feasibility of the plan. Basically,
this scenario is a prerequisite for the commitment line of 100.0
billion yen. It is not a matter of whether it is feasible or
impossible to implement the plan, but this scenario should be
recognized as the minimum requirement. The biggest factor
affecting the feasibility and the speed of implementation is how
each Executive Officer can take advantage of the current
environment of COVID-19 as an opportunity for our
fundamental change, by breaking down this scenario by each
business functional field using his/her own words, and
thoroughly implementing each field's reform story through
inspired Middle Management people in each field.
The outlook is becoming increasingly difficult after the spread
of COVID-19. As a vision for the future, under such extreme
uncertainty, we will accelerate the establishment of a corporate
culture, or a Global Learning Organization, that will
autonomously pursue total optimization to ensure that all
regions and divisions survive with a shared view to maximizing
the total value of NTN Group.
This is because, even if the clear strategies and directions of
top management toward maximizing corporate value are
broken down into specific tasks by function, we believe that no
transformation will be achieved without the strong networking
of middle management that measures, manages, and
maximizes the results of value creation while coordinating
between related divisions in order to resolve the contradictions
between ideals of top management to aim for and realities at
each working place in each business functional field.
Therefore, I myself make every effort to repeatedly explain,
discuss, and exchange opinions and views on the strategies and
directions that each company should take through direct dialog
(including web meetings and discussions) with the leaders of all
divisions in Japan and overseas.
Invested Capital) is 5% in the fiscal year ending March 31, 2024,
to create corporate value under New Mid-term Management
Plan, which is scheduled to start in the fiscal year ending March
31, 2022. In terms of management stability, our final target for
Net D/E ratio is less than 1.0, and we have set the net D/E ratio
of 1.5 as a mandatory target for the fiscal year ending March 31,
2024. We aim to become a company that can steadily improve
corporate value in the future by achieving the above-
mentioned mandatory targets, maintaining ROE of 8% or more,
returning 4% to shareholders (DOE of 4%), and allocating the
remaining 4% to sustainable growth in the future.
Basic assumptions for the creation of corporate value
In order to achieve ROIC of 5%, we do not rely on measures to
increase net sales by expanding production capacity to increase
production, and we aim to create a financial structure that can
create corporate value with net sales of 700.0 billion yen.
Specifically, the minimum targets of net sales and operating
income are 700.0 billion yen and 42.0 billion yen (operating
margin of 6%), respectively. To achieve this target, we will
reduce the current variable cost rate of 55% by 3% pts (net
reduction) through our efforts such as raising selling prices and
reducing procurement costs. At the same time, we will further
review and reduce fixed costs, which we had drastically reduced
in the fiscal year ended March 31, 2020. Through these
measures, we will minimize any increase in personnel costs and
expenses in response to a rebound in sales from fiscal year
ending March 31, 2022, and lower our break-even point. For the
fiscal year ending March 2024, we will lower the break-even
point to 80% of net sales, or 560.0 billion yen relative to net
sales of 700.0 billion yen.
Transformation of mindset toward Revitalization
Prior to the Lehman Crisis, even though NTN's asset turnover
rate was much lower than that of its domestic competitors,
NTN's profitability was higher due to its superiority in self-
sufficiency from the pre-process, and both its ROIC and stock
price were at higher levels. We need a“Structural Reform”based
on a new mindset that will allow us to break away from our
successful experiences in the past and secure a new competitive
advantage. Based on this direction, we will consider and
promote Selection and Concentration in the areas of asset
sales, business integration and closure. The following section
shows three reforms aimed at NTN Revitalization (corporate
value creation) through an increase in free cash flows.
1 Break away from our current corporate culture that relies
too heavily on a KAIZEN spirit at manufacturing sites that
responds to the demand of“All”OEM customers through
continuous improvement of productivity and cost
reduction:
In the face of changes in the business environment caused
by low-price competition driven by Korean and Chinese
companies in the industrial and automotive OEM market, we
need to strengthen our marketing and cost quotation
functions, as well as investigation, planning, execution and
follow-up functions of our pricing strategies in the sales
division to secure our new competitive advantage.
In addition to selecting customers and cultivating new
target customers, we aim to improve the profitability of the
OEM business by withdrawing from extremely unprofitable
businesses, restraining price reductions, and thoroughly
negotiating price increases. (Withdraw from large loss-
making products in terms of gross profit margin and
thoroughly implement strategic precision pricing)
2 Break away from our current corporate culture that has not
implemented drastic measures while inventory asset
turnover is extremely low compared to our competitors in
Japan:
In the midst of a significant deterioration in NTN’s
profitability, which once surpassed competitors in Japan, we
need to promote manufacturing reforms based on KPIs
centered on GMROI (Gross Margin Return On Inventory
Investment) in order to maximize throughput to secure a new
competitive advantage in the face of environmental changes,
in which our low inventory asset turnover is a major
impediment to competition. In addition to reducing invested
capital by reducing inventory assets, we aim to expand
aftermarket business and improve profitability by realizing
flexible manufacturing for aftermarket services in our OEM
production lines. (Break away from prioritization for OEM and
ensure efficient production of profitable products for
aftermarket services)
3 Break away from our current corporate culture that
attempts to internally accumulate added value as well as
technological know-how by carrying out the entire process
of development, manufacturing, and sales on its own:
In order to secure a new competitive advantage, we need
to build and strengthen WIN-WIN partnerships based on
mutual trust and respect with partners that have
complementary capabilities to succeed together and with
which synergy is expected to be created in each of our
business areas and markets. This is because the burden of
investment costs has increased and we have insufficient
human, financial, and technological resources due to
diversified customer requirements and increasingly
sophisticated requirements in the global market. Through
strategic partnerships, we aim to significantly reduce
investments and supplement human and technical resources.
following: investments in production reforms to improve current
situations such as throughput; overhaul of existing facilities; and
flexible setup response. Furthermore, regarding inventory assets,
we will strategically increase inventories for aftermarket services
with the aim of increasing sales in aftermarket business. At the
same time, we will reduce OEM inventories and aim to achieve
the Group-wide inventory asset turnover ratio of 3.6 as in the
fiscal year ended March 31, 2020.
Preparing for Revitalization
Within the Group as a whole, we will clarify the business
strategies for unprofitable companies and clearly determine the
direction such as reconstruction, downsizing or closure. Each
Business Headquarters will play a central role for domestic
operations and the Office of General Managers for overseas
businesses, while these headquarters and office work together
with Corporate Strategy Headquarters, Finance Headquarters,
and Production Headquarters to formulate concrete plans,
including consideration of asset sales and business
consolidation. The progress of these plans will be tracked in the
New Mid-term Management Plan. At the same time, we will
accelerate the implementation and promotion of measures to
strengthen the“Product Portfolio”by withdrawing from the
deficit products and concentrating on the profitable products in
the industrial and automotive OEM business, and measures to
strengthen the“Business Portfolio”by expanding and
strengthening aftermarket business.
Definition of Revitalization
NTN Revitalization means making it possible for us to create
corporate value. Since the fiscal year ended March 31, 2020, we
have introduced the concept of“Cost of Capital (WACC)”in our
investment decisions and business evaluations in each country
globally. Assuming that the return expected by our
shareholders from the Company in the Japanese stock market is
8% at present, we have designed our consolidated WACC at 5%,
so our mandatory target for consolidated ROIC (Return on
NTN Revitalization Scenario
Future Vision
Achieve ROIC 5% or more, maintain ROE 8% or more, return 4% to shareholders, and allocate the remaining 4% to sustainable growth in the future.
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NTN Revitalization Scenario - Toward Corporate Value Creation [ROIC 5% or More]-
NTN Revitalization Story A Message from the CFO
NTN ReportNTN Report25 262020 2020
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