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Shimadzu : 1st Quarter Results & Financial Position for the Fiscal Year Ending March 2024 (FY 2023)
August 04, 2023 at 02:16 am EDT
Shimadzu Corporation (TSE Prime Market: Securities code 7701)
1st Quarter FY 2023 (Ending March 2024) Results & Financial Position
Director, Member of the Board
Senior Managing Executive Officer, CFO
Akira Watanabe
Overview of Financial Results
01 Overview of Financial Results
02 Results by Business Segment
03 FY 2023 Earnings Forecast
Excellence in Science
&
Best for Our Customers
• AMI: Analytical & Measuring Instruments, MED: Medical
Excellence in Science
Systems, IM: Industrial Machinery, AE: Aircraft Equipment
• AMI key models (LC: Liquid Chromatographs, MS: Mass
&
Spectrometer Systems, GC: Gas Chromatographs),
Best for Our Customers
TMP: Turbomolecular Pumps
1
Sales: Record high for the 3 consecutive year, driven by key business, AMI.
OP: Record high, driven by AMI centering on key models.
AMI: Record high sales driven by strong key models.
MED: Sales and OP decreased in Japan and North America as capital investment decreased due to deterioration in hospital management.
2 IM: Record high sales and OP achieved by increase in Hydraulic Pumps, profitability improvement, and other measures.
AE: Sales for both commercial aircraft and defense increased, led to a significant increase in sales and OP.
3 AMI key models YoY +18%, double digit growth achieved for the 2 consecutive Quarters.
Copyright © Shimadzu Corporation. All Rights Reserved. | FY2023 Q1 Results
3
Excellence in Science
&
Best for Our Customers
Net Sales, Operating Income, Ordinary Income, and Net Income all hit record high with overseas expansion. Amid strategic investment for R&D and HR, profitability improved, and Operating Margin improved.
Net Sales
Operating Income
Operating Margin
Net Income
YoY: +10.6 bn yen / +11%
YoY: +3.8 bn yen / +40%
YoY: +2.6pt
YoY: +2.4 bn yen / +28%
109.2 bn yen
13.2 bn yen
12.1%
11.1 bn yen
Units: Billions of yen
Q1 (Apr.-Jun.)
YoY
FY2022
FY2023
Changes
%
Net Sales
98.6
109.2
+10.6
+11%
Business
Operating Income
9.4
13.2
+3.8
+40%
Operating Margin
9.6%
12.1%
+2.6pt
Results
Ordinary Income
12.1
15.7
+3.6
+29%
Profit Attributable to Owners of Parent
8.7
11.1
+2.4
+28%
Exchange
Average Rate: USD (Yen)
129.63
137.40
+7.77
+6%
Rates
Average Rate: Euro (Yen)
138.17
149.50
+11.33
+8%
R&D Expenses
4.2
5.0
+0.7
CAPEX
5.8
5.7
-0.1
Depreciation
and
Amortization
4.5 bn yen
Exchange Rate
Effect
Net Sales:
bn yen
Operating Income:
bn yen
FX effect on overseas inventory acted positively.
Copyright © Shimadzu Corporation. All Rights Reserved. | FY2023 Q1 Results
4
Analysis of YoY Change in Operating Income
Excellence in Science
&
Best for Our Customers
Increased Profit on Higher Sales:
GP increase by higher sales in AMI and AE and rebound from last year's lockdown in China.
+2.8 BY
GP Margin Improved: Though material prices remained high, price revisions and product mix improvement covered up. +3.3 BY
Increased SG&A: Travel expenses and others increased.
1.8 BY (OP pull)
Increased Growth Investment: Investment for future growth such as HR and R&D increased.
3.1 BY (OP pull)
Bn yen
Segment Mix
Product Mix
Increased
Other
Price
Improved/
Change
Others
Expense
Sales
Surging
Revision
Increased
Rebound
Increased
Increased
Material
HR
from last
R&D
Prices
Investment
year's
FX
lockdown
in China
Increased Profit
GP Margin
Increased
Investment for
on Higher Sales
Improved
Expense
Future Growth
FY2023
Q1
Copyright © Shimadzu Corporation. All Rights Reserved. | FY2023 Q1 Results
5
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Shimadzu Corporation published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public , unedited and unaltered, on 04 August 2023 06:15:35 UTC .
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Shimadzu Corp is a Japan-based company mainly engaged in the research, development, manufacture, sale and maintenance of scientific and precision equipment. The Company has four segments. Testing and Measuring Instruments segment is engaged in the provision of chromatographic analysis systems, mass spectrometry systems, light analysis systems, thermal analysis systems, bio-related analysis systems, water quality measurement systems and others. Medical Equipment segment is engaged in the provision of X-ray television (TV) systems, angiography systems, X-ray imaging systems and others. Aircraft Equipment segment is engaged in the provision of flight control systems, air management systems, cockpit display systems and others. Industrial Equipment segment is engaged in the provision of turbomolecular pumps and others. The Company is also engaged in the leasing and management of real estate business.
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Scientific & Precision Equipment
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