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.
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.
CFO Message in NTN Report 2020 (English Version)TETSUYA SOGO
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
Lkq corporations first quarter 2018 earnings call presentation v2 4.27.18corporationlkq
- The company reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services.
- Net income from continuing operations attributable to stockholders was $153 million for Q1 2018, up 8.6% from $141 million in Q1 2017.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from $290 million in Q1 2017, with margins of 10.9% compared to 12.4% in Q1 2017.
Trinseo reported financial results for the second quarter of 2018 that were in line with prior guidance. Net income was $98 million and Adjusted EBITDA was $170 million, which included a favorable $10 million net timing impact. The company continues to make progress on its 2016-2019 growth initiatives and expects to achieve $90 million in Adjusted EBITDA growth across various segments. For Q3 2018, Trinseo provided an outlook for Net Income between $88-96 million and Adjusted EBITDA between $150-160 million. For full year 2018, the outlook is for Net Income between $393-410 million and Adjusted EBITDA between $665-685 million.
Lkq corporations first quarter 2018 earnings call presentationcorporationlkq
- LKQ reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services. Net income was $153 million.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from Q1 2017. Diluted EPS was $0.49 per share, up 8.9% from Q1 2017.
- Revenue growth was driven by acquisitions in Europe and organic growth in North America. Margins declined due to mix shift to Europe and higher costs.
Third Quarter of Fiscal Year Ending March 2022 (FY2021) Financial HighlightsRicohLease
- Net sales decreased 7.3% year-over-year for Ricoh Leasing due to declines in installment sales and transaction volume from prolonged COVID and semiconductor shortages, however profit increased 17.5% from improved returns.
- Operating assets decreased slightly to 967.9 billion yen due to decreased transaction volume.
- Progress was made toward the 18.5 billion yen full-year operating profit forecast, though uncertainty remains in the market.
ADP reported 6% revenue growth and 6% adjusted diluted EPS growth for the first quarter of fiscal year 2018. Key highlights included a 160 basis point improvement in client retention, 14% revenue growth for PEO services with a 10% increase in average worksite employees, and continued investments in innovation, service, and distribution. For fiscal year 2018, ADP expects 6-8% revenue growth, adjusted EBIT margin expansion, and 5-7% growth in adjusted diluted EPS.
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.
CFO Message in NTN Report 2020 (English Version)TETSUYA SOGO
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
Lkq corporations first quarter 2018 earnings call presentation v2 4.27.18corporationlkq
- The company reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services.
- Net income from continuing operations attributable to stockholders was $153 million for Q1 2018, up 8.6% from $141 million in Q1 2017.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from $290 million in Q1 2017, with margins of 10.9% compared to 12.4% in Q1 2017.
Trinseo reported financial results for the second quarter of 2018 that were in line with prior guidance. Net income was $98 million and Adjusted EBITDA was $170 million, which included a favorable $10 million net timing impact. The company continues to make progress on its 2016-2019 growth initiatives and expects to achieve $90 million in Adjusted EBITDA growth across various segments. For Q3 2018, Trinseo provided an outlook for Net Income between $88-96 million and Adjusted EBITDA between $150-160 million. For full year 2018, the outlook is for Net Income between $393-410 million and Adjusted EBITDA between $665-685 million.
Lkq corporations first quarter 2018 earnings call presentationcorporationlkq
- LKQ reported revenue of $2.721 billion for Q1 2018, up 16.1% from Q1 2017, with organic revenue growth of 3.7% for parts and services. Net income was $153 million.
- Segment EBITDA was $295 million for Q1 2018, up 1.7% from Q1 2017. Diluted EPS was $0.49 per share, up 8.9% from Q1 2017.
- Revenue growth was driven by acquisitions in Europe and organic growth in North America. Margins declined due to mix shift to Europe and higher costs.
Third Quarter of Fiscal Year Ending March 2022 (FY2021) Financial HighlightsRicohLease
- Net sales decreased 7.3% year-over-year for Ricoh Leasing due to declines in installment sales and transaction volume from prolonged COVID and semiconductor shortages, however profit increased 17.5% from improved returns.
- Operating assets decreased slightly to 967.9 billion yen due to decreased transaction volume.
- Progress was made toward the 18.5 billion yen full-year operating profit forecast, though uncertainty remains in the market.
ADP reported 6% revenue growth and 6% adjusted diluted EPS growth for the first quarter of fiscal year 2018. Key highlights included a 160 basis point improvement in client retention, 14% revenue growth for PEO services with a 10% increase in average worksite employees, and continued investments in innovation, service, and distribution. For fiscal year 2018, ADP expects 6-8% revenue growth, adjusted EBIT margin expansion, and 5-7% growth in adjusted diluted EPS.
CN announced a new normal course issuer bid to repurchase up to 14 million common shares over 12 months and a 7% increase to its 2021 dividend. CP reported record Q4 and full-year 2020 results, with diluted EPS rising 23% and 6% respectively, and announced a proposed 5-for-1 share split subject to shareholder approval. CSX reported Q4 EPS of $0.99, including a $0.05 charge for early debt repayment, and a record Q4 operating ratio of 57%. Lufthansa issued a 1.6 billion euro bond in two tranches to refinance 2021 financial liabilities and repay its KfW loan ahead of schedule.
02 27-18 march investor presentation finalAES_BigSky
The document discusses AES Corporation's business operations and future plans. It states that AES aims to deliver 8-10% average annual growth in earnings and parent free cash flow through 2020. It also aims to achieve investment grade credit metrics in 2019 and reduce its carbon intensity by 25% from 2016-2020 and 50% by 2030. AES expects to achieve $500 million in cost savings by 2020 and is adding 4.4 GW of new capacity through projects under construction by 2020 to transform and simplify its portfolio.
This document summarizes WestRock's Q3 FY18 financial results. Key highlights include a 12% increase in net sales year-over-year and strong demand fundamentals across segments. Adjusted earnings per share were up 47% to $1.09. Adjusted segment EBITDA grew 27% with margins expanding 220 basis points. The corrugated packaging segment saw a 29% increase in adjusted segment EBITDA with North America margins improving 420 basis points. The acquisition of KapStone is expected to close by the end of 2018. Full year 2018 guidance projects 10% revenue growth, over 27% adjusted EBITDA growth, and 22.5% adjusted operating cash flow growth.
We've delivered a strong financial performance in 2021, making significant progress on our new strategic plan.
#SGS #SGSGroup #WeAreSGS #FinancialResults
- WestRock reported Q3 2017 results with adjusted earnings per share of $0.74 and adjusted free cash flow of $473 million.
- They achieved $94 million in productivity initiatives and expect a synergy and performance improvement run-rate of $825 million by the end of Q4 2017.
- Guidance for fiscal year 2017 includes reaffirming adjusted free cash flow of $1.2 billion and estimating capital expenditures of $750 million.
- The company reported revenue of $2.34 billion for Q1 2017, up 21.9% from Q1 2016, driven by organic growth, acquisitions, and higher scrap steel prices.
- Income from continuing operations was $140.8 million for Q1 2017 compared to $112.2 million for Q1 2016.
- Segment EBITDA margin was 12.4% for Q1 2017 compared to 12.3% for Q1 2016, as revenue growth offset increased operating expenses from acquisitions.
Second-Quarter 2018 Results
- The company reported strong financial results for the second quarter of 2018, with organic bookings growth of 15% and organic revenue growth of 9% year-over-year.
- Adjusted continuing EPS grew 24% compared to the second quarter of 2017, driven by strong operating performance in both the Climate and Industrial segments.
- The company is raising its full-year 2018 adjusted continuing EPS guidance from a range of approximately $5.20 to approximately $5.50, reflecting continued strong execution expected across both segments.
Sasol Limited reported stronger financial results for the year ended June 30, 2013 compared to the previous year. Key highlights included a 26% increase in operating profit, excluding once-off items, a 25% rise in headline earnings per share, and a 24% increase in cash generated from operating activities. Production volumes at Sasol Synfuels were up 4% and the company's safety recordable case rate reached a new low. However, the results were negatively impacted by several impairment charges and other once-off items totaling R8.5 billion. Looking ahead, Sasol aims to improve operational efficiency and reduce costs through a business performance enhancement program.
- ADP reported solid fiscal 2016 results with 7% revenue growth and earnings per share of $2.89, up 13% from fiscal 2015.
- For fiscal 2017, ADP expects revenue growth of 7-9% and earnings per share growth of 10-12%, driven by continued growth in Employer Services and PEO Services.
- ADP will continue focusing on upgrading clients to modern cloud solutions and aligning its service model to support its HCM strategy.
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES has 3,389 MW of generation projects under construction globally that are expected to come online through 2019.
11 04-16 third quarter 2016 financial review final (revised mw appendix)AES_BigSky
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES continues to expand its natural gas and renewable generation portfolio through its construction program.
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.
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
Bruker reported financial results for Q3 2018 and year-to-date Q3 2018. Q3 revenue increased 7.1% year-over-year to $466.6 million driven by 7% organic growth. Non-GAAP operating income grew 27% and margin expanded 280 basis points. Year-to-date revenue increased 8.6% to $1,342 million with organic growth of 4.7%. Non-GAAP EPS grew 28% in Q3 and 23% year-to-date as revenue growth and margin expansion drove higher profits. Bruker aims to continue revenue growth acceleration through initiatives like acquisitions and new facilities.
The document provides financial and operational results for several energy companies for the fourth quarter and full year of 2019. Key highlights include:
- Occidental reported a net loss of $1.3 billion for Q4 2019 but oil and gas pre-tax income was $921 million. Full year production increased 33% from 2018.
- Apache reported a Q4 loss of $3.0 billion and full year loss of $3.6 billion. Q4 Permian production reached a record 103,000 barrels per day.
- Cheniere reported record Q4 and full year results, with Q4 net income of $939 million. Full year adjusted EBITDA was $2.95 billion.
CIT reported record first quarter results for 2007, with EPS of $1.37, up from $1.12 in the prior year. Revenue grew 14% due to a 24% increase in new business volume. Credit quality remained strong overall, though home lending metrics weakened due to economic conditions. CIT will continue leveraging its origination, risk management, and client service capabilities to increase shareholder returns.
CIT reported record first quarter results for 2007, with EPS of $1.37, up from $1.12 in the prior year. Revenue grew 14% due to a 24% increase in new business volume. Credit quality remained strong overall, though home lending metrics weakened due to economic conditions. CIT will continue leveraging its origination, risk management, and client service capabilities to increase shareholder returns.
- The document discusses Greif's Q3 2016 earnings conference call. It provides an overview of Greif's financial performance in Q3 2016 including net sales, operating profit, net income, and free cash flow.
- Greif's strategic priorities are building engaged teams, customer service excellence, and achieving transformational performance. In Q3 2016, Greif saw improvements in customer satisfaction scores.
- Rigid Industrial Packaging & Services saw revenue growth excluding divestitures. Gross profit margin increased significantly driven by price/mix management and production efficiencies.
- Paper Packaging & Services increased volumes to offset lower prices while specialty sales expanded 10%. Flexible Products & Services showed a 15% improvement in gross
The document summarizes Integer Holdings Corporation's 4Q16 earnings conference call. Key points include:
- Revenue was flat year-over-year and up $13 million quarter-over-quarter. Adjusted EBITDA was $71 million.
- Several product lines saw revenue increases compared to prior periods, while others declined due to lower product launches or accelerated demand in the year-ago period.
- The company is focused on operational improvements, new product launches, and reducing debt to drive future growth. An outlook for 2017 anticipates revenue of $1.39-1.43 billion and adjusted EPS of $2.70-3.10.
- WestRock reported positive Q2 FY18 results with revenue growth, higher earnings per share, and margin expansion. Key highlights included a 6.8% increase in North American corrugated box shipments, strong consumer packaging backlogs, and price increases across corrugated and consumer grades. The company achieved productivity savings and synergy targets but earnings were negatively impacted by $28 million from severe winter weather. WestRock is implementing strategic investments and pursuing the planned acquisition of KapStone.
2011-2017: NTN Americas Town Hall Meeting & Leadership Academy TETSUYA SOGO
2015-2017: NTN Americas Town Hall Meetings at 12 companies in 15 locations
2015 Town Hall Meetings in NTN Americas -"NTN Corporate Strategy & Vision"
2016 Town Hall Meetings in NTN Americas -"NTN Corporate Philosophy"
2017 Town Hall Meetings in NTN Americas - "Maximizing the Value of NTN Americas"
2011 - 2016: NTN Americas "Leadership Academy" - Building a "Learning Organization" by "Middle up/down Management"
CN announced a new normal course issuer bid to repurchase up to 14 million common shares over 12 months and a 7% increase to its 2021 dividend. CP reported record Q4 and full-year 2020 results, with diluted EPS rising 23% and 6% respectively, and announced a proposed 5-for-1 share split subject to shareholder approval. CSX reported Q4 EPS of $0.99, including a $0.05 charge for early debt repayment, and a record Q4 operating ratio of 57%. Lufthansa issued a 1.6 billion euro bond in two tranches to refinance 2021 financial liabilities and repay its KfW loan ahead of schedule.
02 27-18 march investor presentation finalAES_BigSky
The document discusses AES Corporation's business operations and future plans. It states that AES aims to deliver 8-10% average annual growth in earnings and parent free cash flow through 2020. It also aims to achieve investment grade credit metrics in 2019 and reduce its carbon intensity by 25% from 2016-2020 and 50% by 2030. AES expects to achieve $500 million in cost savings by 2020 and is adding 4.4 GW of new capacity through projects under construction by 2020 to transform and simplify its portfolio.
This document summarizes WestRock's Q3 FY18 financial results. Key highlights include a 12% increase in net sales year-over-year and strong demand fundamentals across segments. Adjusted earnings per share were up 47% to $1.09. Adjusted segment EBITDA grew 27% with margins expanding 220 basis points. The corrugated packaging segment saw a 29% increase in adjusted segment EBITDA with North America margins improving 420 basis points. The acquisition of KapStone is expected to close by the end of 2018. Full year 2018 guidance projects 10% revenue growth, over 27% adjusted EBITDA growth, and 22.5% adjusted operating cash flow growth.
We've delivered a strong financial performance in 2021, making significant progress on our new strategic plan.
#SGS #SGSGroup #WeAreSGS #FinancialResults
- WestRock reported Q3 2017 results with adjusted earnings per share of $0.74 and adjusted free cash flow of $473 million.
- They achieved $94 million in productivity initiatives and expect a synergy and performance improvement run-rate of $825 million by the end of Q4 2017.
- Guidance for fiscal year 2017 includes reaffirming adjusted free cash flow of $1.2 billion and estimating capital expenditures of $750 million.
- The company reported revenue of $2.34 billion for Q1 2017, up 21.9% from Q1 2016, driven by organic growth, acquisitions, and higher scrap steel prices.
- Income from continuing operations was $140.8 million for Q1 2017 compared to $112.2 million for Q1 2016.
- Segment EBITDA margin was 12.4% for Q1 2017 compared to 12.3% for Q1 2016, as revenue growth offset increased operating expenses from acquisitions.
Second-Quarter 2018 Results
- The company reported strong financial results for the second quarter of 2018, with organic bookings growth of 15% and organic revenue growth of 9% year-over-year.
- Adjusted continuing EPS grew 24% compared to the second quarter of 2017, driven by strong operating performance in both the Climate and Industrial segments.
- The company is raising its full-year 2018 adjusted continuing EPS guidance from a range of approximately $5.20 to approximately $5.50, reflecting continued strong execution expected across both segments.
Sasol Limited reported stronger financial results for the year ended June 30, 2013 compared to the previous year. Key highlights included a 26% increase in operating profit, excluding once-off items, a 25% rise in headline earnings per share, and a 24% increase in cash generated from operating activities. Production volumes at Sasol Synfuels were up 4% and the company's safety recordable case rate reached a new low. However, the results were negatively impacted by several impairment charges and other once-off items totaling R8.5 billion. Looking ahead, Sasol aims to improve operational efficiency and reduce costs through a business performance enhancement program.
- ADP reported solid fiscal 2016 results with 7% revenue growth and earnings per share of $2.89, up 13% from fiscal 2015.
- For fiscal 2017, ADP expects revenue growth of 7-9% and earnings per share growth of 10-12%, driven by continued growth in Employer Services and PEO Services.
- ADP will continue focusing on upgrading clients to modern cloud solutions and aligning its service model to support its HCM strategy.
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES has 3,389 MW of generation projects under construction globally that are expected to come online through 2019.
11 04-16 third quarter 2016 financial review final (revised mw appendix)AES_BigSky
The AES Corporation reported its third quarter 2016 financial results. Key points include:
- Adjusted EPS decreased to $0.32 per share from $0.38 per share in Q3 2015 due to foreign exchange impacts and restructuring in Chile.
- Proportional free cash flow was $400 million, down from $621 million in Q3 2015 due to working capital impacts in South America.
- The company is on track to achieve its full-year 2016 guidance.
- AES continues to expand its natural gas and renewable generation portfolio through its construction program.
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.
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
Bruker reported financial results for Q3 2018 and year-to-date Q3 2018. Q3 revenue increased 7.1% year-over-year to $466.6 million driven by 7% organic growth. Non-GAAP operating income grew 27% and margin expanded 280 basis points. Year-to-date revenue increased 8.6% to $1,342 million with organic growth of 4.7%. Non-GAAP EPS grew 28% in Q3 and 23% year-to-date as revenue growth and margin expansion drove higher profits. Bruker aims to continue revenue growth acceleration through initiatives like acquisitions and new facilities.
The document provides financial and operational results for several energy companies for the fourth quarter and full year of 2019. Key highlights include:
- Occidental reported a net loss of $1.3 billion for Q4 2019 but oil and gas pre-tax income was $921 million. Full year production increased 33% from 2018.
- Apache reported a Q4 loss of $3.0 billion and full year loss of $3.6 billion. Q4 Permian production reached a record 103,000 barrels per day.
- Cheniere reported record Q4 and full year results, with Q4 net income of $939 million. Full year adjusted EBITDA was $2.95 billion.
CIT reported record first quarter results for 2007, with EPS of $1.37, up from $1.12 in the prior year. Revenue grew 14% due to a 24% increase in new business volume. Credit quality remained strong overall, though home lending metrics weakened due to economic conditions. CIT will continue leveraging its origination, risk management, and client service capabilities to increase shareholder returns.
CIT reported record first quarter results for 2007, with EPS of $1.37, up from $1.12 in the prior year. Revenue grew 14% due to a 24% increase in new business volume. Credit quality remained strong overall, though home lending metrics weakened due to economic conditions. CIT will continue leveraging its origination, risk management, and client service capabilities to increase shareholder returns.
- The document discusses Greif's Q3 2016 earnings conference call. It provides an overview of Greif's financial performance in Q3 2016 including net sales, operating profit, net income, and free cash flow.
- Greif's strategic priorities are building engaged teams, customer service excellence, and achieving transformational performance. In Q3 2016, Greif saw improvements in customer satisfaction scores.
- Rigid Industrial Packaging & Services saw revenue growth excluding divestitures. Gross profit margin increased significantly driven by price/mix management and production efficiencies.
- Paper Packaging & Services increased volumes to offset lower prices while specialty sales expanded 10%. Flexible Products & Services showed a 15% improvement in gross
The document summarizes Integer Holdings Corporation's 4Q16 earnings conference call. Key points include:
- Revenue was flat year-over-year and up $13 million quarter-over-quarter. Adjusted EBITDA was $71 million.
- Several product lines saw revenue increases compared to prior periods, while others declined due to lower product launches or accelerated demand in the year-ago period.
- The company is focused on operational improvements, new product launches, and reducing debt to drive future growth. An outlook for 2017 anticipates revenue of $1.39-1.43 billion and adjusted EPS of $2.70-3.10.
- WestRock reported positive Q2 FY18 results with revenue growth, higher earnings per share, and margin expansion. Key highlights included a 6.8% increase in North American corrugated box shipments, strong consumer packaging backlogs, and price increases across corrugated and consumer grades. The company achieved productivity savings and synergy targets but earnings were negatively impacted by $28 million from severe winter weather. WestRock is implementing strategic investments and pursuing the planned acquisition of KapStone.
Similar to CFO Message in NTN Report 2022 (English Version) (20)
2011-2017: NTN Americas Town Hall Meeting & Leadership Academy TETSUYA SOGO
2015-2017: NTN Americas Town Hall Meetings at 12 companies in 15 locations
2015 Town Hall Meetings in NTN Americas -"NTN Corporate Strategy & Vision"
2016 Town Hall Meetings in NTN Americas -"NTN Corporate Philosophy"
2017 Town Hall Meetings in NTN Americas - "Maximizing the Value of NTN Americas"
2011 - 2016: NTN Americas "Leadership Academy" - Building a "Learning Organization" by "Middle up/down Management"
Business Essay in the August 2023 issue of Waseda Mail Magazine TETSUYA SOGO
My business essay reflecting on my experience for over 40 years at a Japanese manufacturing company was published in the August 2023 issue of Waseda Mail Magazine hosted by Professor OHNO, Faculty of Science and Engineering. (Japanese version with English translation attached)
Profile of Tetsuya Sogo as of March 31, 2023TETSUYA SOGO
1. Tetsuya Sogo is a retired CFO of NTN Corporation and former CEO of NTN Americas.
2. He has over 35 years of experience in various leadership roles within NTN Corporation and its subsidiaries worldwide, focused on global strategy, mergers and acquisitions, and business expansion.
3. As CFO of NTN Corporation, he led initiatives that increased the company's market capitalization 1.8 times despite challenging business conditions.
1. Tetsuya Sogo is a retired CFO and CEO of NTN Corporation and NTN Americas with over 35 years of experience in the bearing manufacturing industry.
2. He has held various leadership positions within NTN Group companies in Japan, the Americas, Europe, and Asia, leading business expansion, M&A activities, and joint venture formations.
3. Sogo has an MBA from Kellogg School of Management and BS in engineering from Waseda University.
NTN First Half Financial Results Briefing for FY2022TETSUYA SOGO
November 4, 2022: NTN First Half Financial Results Briefing was held on the web. What we should do during this fiscal year is extremely clear and shared globally. We will do that and achieve our upward revised profit outlook.
Kellogg Class Yearbook for EMBA Reunion 2022TETSUYA SOGO
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Tetsuya Sogo is currently the CFO and Corporate Executive Officer of NTN Corporation, a Japanese bearing manufacturer. He has over 35 years of experience in various management and executive roles within NTN and its subsidiaries, primarily focused on global business expansion, mergers and acquisitions, and operations in North and South America. He received an MBA from Kellogg School of Management and BS in engineering from Waseda University.
July-August, 2022: Global Web Meeting on CFO MessageTETSUYA SOGO
The document discusses the CFO's message on NTN's financial results and plans. It summarizes NTN's actions over the past two years to respond to COVID-19 and other challenges, including cost reduction measures and raising funds. It then discusses the need to continuously monitor business plans and forecasts to respond quickly to changes, share understanding of assumptions between divisions and headquarters, and take responsive measures to achieve financial targets. The overall goal is to improve corporate value through the NTN100 transformation plan focusing on digitalization, resources, innovation, costs and efficiency.
Global Values, Local Success (Jan.1, 2016: Profile Magazine)TETSUYA SOGO
The document discusses a 4 step process but provides no details on the actual steps or content of the process. It references numbered sections but provides no information within those sections. Overall, the document does not contain any substantive information that could be summarized due to the lack of details provided within the numbered sections.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
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Introduction
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This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
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INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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1. Value Creation Story CFO Message
the initially announced forecast. In addition, the net D/E
ratio was further lowered as compared to the announced
forecast. In a tough external environment with significant
fluctuations and instability of top-line revenue, a surge in
prices of raw materials, etc., we produced good results
by steadily implementing measures that should be taken
by the entire NTN Group to reduce variable costs, control
fixed costs and address cash flow issues in order to
achieve the NTN Revitalization Scenario.
<Key points of forecasts for the fiscal year ending
March 31, 2023>
In the fiscal year ending March 31, 2023, as the
outlook continues to be uncertain due to a shortage of
semiconductors, the COVID-19 pandemic, the situation
in Ukraine and other factors, increases in prices of raw
materials, sea freight rates, etc. are expected to be at
least twice their increases of the fiscal year ended March
31, 2022. Regarding these abnormal cost increases,
the important measures for the current fiscal year are to
vigorously promote thorough price pass-on measures
and reliably implement measures including variable cost
reformation to reduce variable costs and control fixed
costs according to the plan as we did in the previous
fiscal year. Based on this, we forecast 720.0 billion yen
in net sales, 23.0 billion yen in operating income and
10.0 billion yen in profit attributable to owners of parent
for the fiscal year ending March 31, 2023, taking into
consideration the current weaker-yen environment and
global sales decrease factors. As top-line instability
continues, we will reduce inventory assets, secure
18.0 billion yen of free cash flow and lower the net
D/E ratio according to the plan. In addition, we are to
resume dividend payments, beginning with the interim
dividends for the current fiscal year, as initially planned
in the Revitalization Scenario. Whatever changes occur
to the external environment including sales, prices of
raw materials, etc., thoroughly implementing the above
important measures that should be carried out by the
entire NTN Group will lead to maintaining the course for
achieving the NTN Revitalization Scenario in the fiscal
year ending March 31, 2024.
<Year-on-year analysis of profits for the fiscal year
ending March 31, 2023>
- Breakdown of profit-increasing factors (47.0 billion yen) -
The largest profit-increasing factor for the current fiscal
year is the price pass-on measure of 28.8 billion yen.
An increase in variable costs of 26.0 billion yen including
increase in costs of 33.8 billion yen and a measure
to address the issue is to reflect at least 28.8 billion
yen in prices during the current fiscal year. However,
the 28.8 billion yen amount includes 6.0 billion yen in
increased costs for the previous fiscal year for which
the implementation of a price pass-on measure is
delayed to the current fiscal year. As such, with regard
to passing increased costs for the current fiscal year
on to prices during the current fiscal year, 22.8 billion
yen or 67% of such costs is conservatively set as an
achievement level, but our target is still 100%.
On the other hand, unstable top-line revenue is
expected to fluctuate significantly in the current
fiscal year as well but it is important to continue to
thoroughly improve productivity and cut down costs
and thereby reliably implement variable cost reduction
and fixed cost control measures according to the plan,
while reducing inventory assets that increased in the
previous fiscal year and aiming for 100% price pass-
through in order to, among other purposes, achieve
profitability in the automotive business.
Furthermore, as the growth rate in the aftermarket
business is small in the current fiscal year, we need
to take measures to strengthen our ability to respond
to aftermarket demand and add as many sales as
possible to the forecasted net sales for the aftermarket
business by focusing on expanding inventories for
aftermarket services while reducing inventories for
OEM.
In parallel with the above activities, we will work to,
among other activities, improve the profit ratio of the
automotive business and expand the aftermarket
business and, at the same time, must ensure the
achievement of the NTN Revitalization Scenario in the
fiscal year ending March 31, 2024 by accelerating
three drastic transformation measures (Pricing Power,
Cash Conversion Cycle and Strategic Partnership) in
order to revitalize NTN and promote product/business
portfolio reformation, production/logistics reformation
and Variable Cost Reformation with firm resolve.
Results of examining, by using uniform exchange rates,
whether forecasts for the fiscal year ending March 31,
2023 are consistent with the course for achieving the NTN
Revitalization Scenario in the fiscal year ending March 31,
2024 are shown in the next page. The targets (700.0 billion
Key points of financial results for the fiscal year
ended March 31, 2022
For the fiscal year ended March 31, 2022, we announced
the initial forecasts of 660.0 billion yen in net sales and
15.0 billion yen in operating income. During the period,
however, we revised the forecasts downward to 630.0
billion yen in net sales and 6.0 billion yen in operating
income, taking into consideration a much higher-than-
expected level of semiconductor shortage and surge in
prices of steel and other raw materials in the first half of
the year. Despite a higher surge in prices of raw materials
and a greater-than-expected rise in personnel expenses
in the U.S. due to the COVID-19 pandemic in the revised
forecasts, the actual result was that net sales and
operating income exceeded what was published in the
revised forecasts and came to 642.0 billion yen and 6.9
billion yen, respectively. This was because in a weaker-
yen environment, sales slightly exceeded our assumption
and we reduced variable costs as planned, thoroughly
managed fixed costs and improved selling prices. On
the other hand, although there was no choice but to
increase inventory assets to a higher level than planned
due to a disruption in the supply chains of customers,
we attained significant improvement in free cash flows by
accelerating sales of cross-held shares and other assets
and achieved a substantial increase in net income from
a rise in prices of steel materials of 22.0 billion yen
and other increase of 4.0 billion yen such as a rise in
electricity, gas fees, prices of materials and parts have
been factored in. Furthermore, we assume an increase
in sea freight rates of 6.0 billion yen and an increase of
personnel expenses in U.S. manufacturing companies
of 1.8 billion yen due to the COVID-19 pandemic. As a
result, costs will increase by 33.8 billion yen in total due
to a sharp increase in inflation. In this regard, we aim to
pass all of those increased costs on to our customers.
However, regarding the recovery of such amounts in the
current fiscal year, 28.8 billion yen is planned as a target
that must be achieved, factoring in a conservative buffer
of 5.0 billion yen.
Net sales for the current fiscal year are expected to
increase by 78.0 billion yen year on year to 720.0 billion
yen. This amount, however, factors in the impacts of
exchange rates (21.8 billion yen) and price pass-on
measures (28.8 billion yen) and therefore a sales volume
increase on a physical quantity basis is 27.4 billion yen.
We expect a profit increase of 12.3 billion yen, which
is calculated by multiplying the amount of the sales
volume increase by the marginal profit ratio.
In addition, a profit increase due to the weaker yen is
projected to be 5.9 billion yen.
- Breakdown of profit-decreasing factors (30.8 billion yen) -
Regarding variable costs, an increase of 19.1 billion
yen and the corresponding decrease in profits are
expected, taking into consideration a rise in prices of
steel materials, etc. of 26.0 billion yen and an expected
result from our cost reduction activities of 7.0 billion yen
including the impact of variable cost reformation. In the
previous fiscal year, variable cost-increasing factors,
including a rise in prices of steel materials, etc. of 9.6
billion yen and a rise in electricity and gas fees and
prices of materials and parts, amounted to 13.5 billion
yen. Therefore, in the current fiscal year, we assume an
abnormal surge in prices of raw materials that is about
twice the increase of the previous fiscal year.
With regard to fixed costs, personnel and other expenses
are expected to increase by 11.8 billion yen, resulting
in a decline in profits. Of those, a total of 7.8 billion yen
resulting from a 6.0 billion yen increase in sea freight rates
and a 1.8 billion yen increase in U.S. personnel expenses
will be passed on to customers and the remaining
amount of 4.0 billion yen is set according to the existing
policy to restrain an increase in fixed costs to 15% or less
of a sales volume increase of 27.4 billion yen.
Key points of measures to achieve the forecasted
results for the fiscal year ending March 31, 2023
The biggest issue for the current fiscal year is a sharp
(billion yen)
Inventories 176.8 214.8 200.0
Free Cash Flow 18.5 11.5 18.0
Net D/E ratio 1.6 1.4 1.3
Dividends (¥) 0.0 0.0 5.0
Exchange rate
(¥)
US$ 106.0 112.3 120.0
EURO 123.7 130.5 135.0
Actual results for the fiscal year ended
March 31, 2022 and forecasts for the fiscal
year ending March 31, 2023
1
Analysis of the forecasted profits for the fiscal
year ending March 31, 2023 and key points of
measures to achieve the forecasted profits
2 Relationship between forecasts for the
fiscal year ending March 31, 2023 and those
for the fiscal year ending March 31, 2024
3
Analysis of Operating Income
(2022/3 Results vs 2023/3 Forecast)
NTN Revitalization Scenario
(Fiscal Year Ending March 2023)
Promotion of sales price
increase
Pass increased raw material
costs on selling prices
Withdraw from unprofitable
products and negotiate for price
increase
Reduction of variable costs
through variable cost
reformation
- 1 point in the variable cost ratio
Fixed cost control in the phase
of increasing volume
Within 15% of the increase in
volume
1. Creating Corporate Value
ROIC 5%
2. Strengthen financial position
Net D/E 1.0
3. Realize stable dividends
DOE 4%
1. Pricing Power
(product/business portfolio reformation)
2. Cash Conversion Cycle
(production and logistics reformation)
3. Strategic Partnership
(variable cost reformation)
Priority Issues for
the Current Fiscal Year
Revitalization Scenario
Definition of Revitalization
Acceleration of transformation
for revitalization
2022/3
Full year
operating
income
(Results)
6.9
Exchange
rates
+5.9
Increase in
personnel
expenses
-7.1
Expenses etc.
(Depreciation, others)
-4.7
2023/3
Full year
operating
income
(Forecast)
23.0
Increase in
variable costs
-19.1
Breakdown of
profit-increasing factors
(47.0)
+16.1
Breakdown of
profit-decreasing factors
(30.8)
Sales price
level
+28.8
Scale
effects
+12.3
Toward Establishing a Management Base to
Realize Sustainable Growth as a Global Company
Even in a very tough management environment, as exemplified by the
COVID-19 pandemic, a shortage of semiconductors, the situation in
Ukraine and a surge in prices of raw materials, we have been steadily
moving forward to revitalize NTN in the fiscal year ending March 31, 2024,
while maintaining a course set forth in the NTN Revitalization Scenario.
Executive Officer CFO (Chief Financial Officer) Tetsuya Sogo
*All figures in billion yen
2021/3
Results
2022/3
Results
2023/3
Forecast
Net sales 562.8 642.0 720.0
Operating income -3.1 6.9 23.0
(Operating margin) (-0.6%) (1.1%) (3.2%)
Ordinary income -5.7 6.8 20.0
Extraordinary
income/loss
4.5 10.8 -3.0
Profit attributable to
owners of parent
-11.6 7.3 10.0
Consolidated Statements of Operation
49 50
NTN Report
NTN Report 2022
2022
Company
Data/Investor
Information
Financial
Report
SASB
Data
Business
Strategies
Sustainability
Management
About
Us
Value
Creation
Story
2. Value Creation Story CFO Message
carry out 100% price pass-through with firm resolve.
If this trend continues, profits do not increase and only
net sales grow and therefore, the profit ratio declines.
However, even if net sales increase due to the price
pass-on measures, this does not affect invested
capital. Therefore, NTN will take measures to reliably
implement stable distribution of dividends with ROIC
= 5%, the net D/E ratio = 1.0 and DOE = 4% which
is the definition of revitalization of NTN by steadily
reducing interest-bearing debt while reliably ensuring
operating income.
For your information, interest-bearing debt and equity
capital are 370.0 billion yen and 200.0 billion yen as
set forth in forecasts for the fiscal year ending March
31, 2023 and we plan to further reduce interest-
bearing debt in the fiscal year ending March 31,
2024. However, even if the current level of invested
capital (570.0 billion yen) remains unchanged, if
42.0 billion yen of operating income is ensured, the
ROIC is calculated to be 5.2% in the formula: (420
x 0.7)/5,700, assuming that the effective tax rate is
30%. Therefore, we can achieve the 5% target in a
reliable manner.
The overview of the NTN Revitalization Scenario
formulated in the fiscal year ended March 31, 2020
was provided in the CFO Message two years ago.
Thereafter, in order to respond to significant changes
in the external environment, such as the COVID-19
pandemic, a shortage of semiconductors and a surge
in prices of raw materials, we took risk hedge measures
assuming the worst-case scenario, as exemplified by
the securing of 100.0 billion yen of funds including
commitment line agreements with our main banks, and
the issuance of hybrid bonds worth 50.0 billion yen. In
doing so, we focused on thorough fixed cost reduction
(42.7 billion yen) in the two-year period until the fiscal
year ended March 31, 2021. Since the fiscal year ended
March 31, 2022, we have accelerated the three drastic
transformation measures described below and have
been aiming to reduce interest-bearing debt and resume
stable distribution of dividends through free cash flow
control while implementing measures to reduce variable
costs by approximately 7.0 billion yen per year and
control fixed costs according to the sales volume (within
15% of an increase in sales volume).
the logistics reformation and introduce the successful
practices to overseas sites, thereby steadily minimizing
the current gap between our competitors and us.
3) Strategic Partnership (variable cost reformation):
The Medium-term Management Plan for the fiscal year
ended March 31, 2022 to the fiscal year ending March
31, 2024 aims to reduce variable costs by approximately
7.0 billion yen per year through variable cost reformation
etc., and the result for the first fiscal year (ended March
31, 2022) was a decrease of 8.5 billion yen. We are
moving forward with reviewing product specifications,
exploring new suppliers and breaking away from
self-sufficiency through collaborations with partner
companies, and in this way, we will aim not only to
produce variable cost reduction effects in the short term
but also to continue to significantly reduce investments
and complement human and technical resources by
building strategic partnerships.
Vision for future sustainable growth
We are in a situation where it is increasingly difficult to
make forecasts, but our future vision is that no matter
what changes occur to the external environment, we
will accelerate the establishment of organizational
culture where all regional business sites and divisions
autonomously pursue overall optimization for survival by
sharing the perspective of corporate value maximization,
in other words, the establishment of a global learning
organization. For that purpose, each business site needs
to enhance the autonomy of its daily management and
administration work to promptly respond to changes in
a situation surrounding the business site under close
coordination within the entire NTN Group so that the
business site can use its relationship with the head office
as a stepping stone for making a leap forward. On the
other hand, the head office will focus on formulating and
promoting a global financial strategy, brand strategy,
business portfolio strategy, production/technology
strategy, etc. and enhance the cohesion of the entire
NTN Group by stepping up functions of the head office
as a global strategic headquarters. I myself will maintain
a keen awareness of investment in personnel as a non-
financial indicator and will have direct dialogs including
global web meetings with leaders of all divisions within
and outside Japan to explain and discuss strategies and
directions to be adopted by us.
yen of net sales and 42.0 billion yen of operating income) for
the fiscal year ending March 31, 2024 can be attained by,
as previously, restraining an increase in fixed costs across
the NTN Group to 15% or less of an increase in net sales
and reducing variable costs by 7.0 billion yen per year to cut
the variable cost ratio by one point as planned.
First, if the exchange rates for the forecasts (720.0
billion yen of net sales and 23.0 billion yen of operating
income) for the fiscal year ending March 31, 2023 are
converted to the exchange rates as of formulating
the Medium-term Management Plan for the fiscal
year ending March 31, 2024, net sales and operating
income are changed to 660.0 billion yen and 13.0
billion yen, respectively.
Note that the amount of costs passed on to sales
prices and included in such net sales is 28.8 billion
yen and if the exchange rates for the Medium-term
Management Plan are applied to this amount, the
amount is changed to 27.0 billion yen. Then, if the
27.0 billion yen is regarded as a temporary external
factor and excluded from the net sales and the
variable costs, the net sales and the operating income
are changed to 633.0 billion yen and 13.0 billion yen,
respectively. These amounts can be compared with
the targets (700.0 billion yen of net sales and 42.0
billion yen of operating income) for the fiscal year
ending March 31, 2024 based on the same exchange
rates and the same conditions.
In this case, net sales will increase by 67.0 billion yen
from 633.0 billion yen to 700.0 billion yen over a period
from the fiscal year ending March 31, 2023 to the
fiscal year ending March 31, 2024. Accordingly, fixed
costs will increase by 10.0 billion yen, or 15% of 67.0
billion yen, resulting in an increase from 284.0 billion
yen to 294.0 billion yen. Meanwhile, if the variable cost
ratio is assumed to be further lowered by one point to
52% as planned, the targets of 700.0 billion yen in net
sales and 42.0 billion yen in operating income will be
achieved in the fiscal year ending March 31, 2024 as
initially planned.
However, as the excluded 27.0 billion yen of costs are
actually to be added, the net sales and the operating
income will come to 727.0 billion yen and 42.0 billion
yen, respectively. As such, the operating income ratio
will be worse than the 6% target and the break-even
point will rise. That being said, we recognize that it is
absolutely necessary to take price pass-on measures
in order to respond to the sharp rise in costs under
the current circumstances, and even in the case of
a further rise in prices of steel materials, etc., we will
Progress of transformation toward
Revitalization of NTN
1) Pricing Power (product/business portfolio reformation):
Investment decision criteria (NPV, IRR) and business
performance evaluation criteria (EVA, ROIC) that were
set by globally introducing the concept of capital costs
in the fiscal year ended March 31, 2020 have taken root,
strengthening the investment selection and follow-up
systems. Also, the systems for monitoring the status
of creation of corporate value, clarifying issues and
taking measures are being strengthened with regard to
each group company in each region of each business.
Regarding the OEM business for automobiles and
industrial machinery in particular, while thoroughly
verifying investment returns and taking into consideration
NTN’s competitive advantages such as future product
technologies and production technologies, we thoroughly
implement a policy in which measures to expand
investments simply for winning price competitions
are eliminated and such available funds are used to
invest in the aftermarket business. This will surely lead
to improvement in the product portfolio of each OEM
business and improvement of the business portfolio
through expansion of the aftermarket business in the
future. Especially in the automotive business, the trend
toward decarbonization and EVs has created a business
opportunity for NTN to utilize its technological advantage.
2) Cash Conversion Cycle (production/logistics reformation):
We have been promoting production reformation since
the fiscal year ending March 31, 2020 and many of our
production sites in Japan succeeded in reducing work-
in-process and shortening production lead times. We are
working to apply such successful practices across more
sites, but in the environment with significant changes in
top-line revenue, our efforts to reduce inventory assets
have currently not produced good results in the NTN
Group as a whole and the number of our inventory
turnover days is consistently approximately 40 days
larger than that of competitors in Japan. We cover
this weak point by implementing factoring and other
measures and have produced positive results in terms of
the Cash Conversion Cycle, as a whole. However, a large
volume of inventory assets still remains a heavy drag
on us in this competitive environment. Starting from the
current fiscal year, we will link the production reformation
that produced results in production sites in Japan to
2018/3 2019/3 2020/3 2021/3 2022/3 2023/3 2024/3
0
0.5
1.0
1.5
2.0
2.5
3.0
-5.0
0.0
5.0
(%)
ROIC
Crisis Response Period Medium-term Management Plan
ROIC
Net D/E Ratio
Net
D/E
Ratio
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.
Fiscal year ended March 31, 2018 (Results)
Net sales: 744.7 billion yen
Operating income: 39.9 billion yen
Fiscal year ending March 31, 2024
(Medium-term Management Plan)
Net sales: 700.0 billion yen
Operating income: 42.0 billion yen (6% or more)
Fiscal year ended March 31, 2022 (Results)
Net sales: 642.0 billion yen
Operating income: 6.9 billion yen
1. Fundamental review of marketing and pricing strategy
2. Strengthen production control and inventory control
3. Break out of self-sufficiency
“Structural
Reform”
*Dotted lines are
estimation when
formulating the scenario
“Selection and
Concentration”
1. Sales of assets
2. Business integration and closure
(in billion yen)
Operating income
Exchange rate B Exchange rate B Exchange rate B Exchange rate B
Exchange rate A
Variable cost Fixed cost Break-even point
2023/3
Latest
announcement
23.0
390.0
307.0
54.2%
2023/3
Latest
announcement
Net sales
660.0
13.0
363.0
284.0
55.0%
2023/3
Latest announcement
excluding price
pass-on measures
Net sales
633.0
13.0
336.0
284.0
53.1%
2024/3
Medium-term
Managament Plan
Net sales
700.0
42.0
364.0
294.0
52.0%
2024/3
Medium-term
Managament Plan
including price
pass-on measures
Net sales
727.0
42.0
391.0
645.0 617.0 590.0 570.0 595.0
294.0
53.8%
Net sales
720.0
Exchange rate A
Latest announcement
in May 2022
1US$ = ¥120
1EURO = ¥135
Exchange rate B
Medium-term
Managament Plan
1US$ = ¥103
1EURO = ¥125
NTN Revitalization Scenario
that must be achieved and
our future vision
4
Lower Break-even Point towards Revitalization
Lower Break-even Point towards Revitalization
NTN Revitalization Scenario - Toward Corporate Value Creation (ROIC 5% or More)
51 52
NTN Report
NTN Report 2022
2022
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