FY2023 Second Quarter

Financial Result

From April 1 through March 31, 2023

TACHI-S CO.,LTD.

November 24, 2023

Securities Code: 7239 (Tokyo/Prime)

Corporate Overview

Company Name

： TACHI-S CO., LTD.

Corporate

： 1-3-1,Suehiro-cho,Oume-shi, Tokyo

Headquarters

Date of

： April, 1954

Establishment

Paid-in Capital

： 9.04 billion yen

Net Sales

： 243.4 billion yen (Consolidated)

(Fiscal Year Ended March 31, 2023)

Number of

： 10,556 (Consolidated) (As of March 31, 2023)

Employees

Stock Exchange

： Tokyo / Prime Market (Securities Code: 7239)

Listing

Business

： Manufacturing of automotive seats

Contents

1/33

Contents

FY2023 Q2 Results

FY2023 Financial Forecast

Progress of the Medium-Term

Management Plan (TVE*)

Shareholder Return

Activity Report

※Transformative Value Evolution

2/33

2Q results (consolidated)

Compared to last term

Unit: billion yen (Rounded down to 0.1 billion yen)

22/09

23/09

Change

Change (％)

Sales

107.9

137.7

29.8

27.6

Operating profit

-4.3

1.7

6.1

－

Ordinary profit or loss

-3.9

1.8

5.7

－

Quarterly profit or loss

0.1

1.2

1.1

669.8

attributable to owners of

parent company

＜Overview of financial results for period to September＞

  • Sales amount rose on the back of sales recovery in Japan, U.S. and Latin America and the impact of foreign currency translation adjustments due to the depreciation of the yen in comparison with the same period last year despite sales downfall in gasoline-powered model in China
  • Operating profit posted the black mainly because of revenue increase and contributions from rationalization efforts including fixed cost reduction.
  • Quarterly net income increased compared with the same period last year although the amount of change from the same period of the previous year was smaller due to the recording of an extraordinary profit from the sale of real estate in the same period of the previous year

3/33

Reasons for change in performance (consolidated)

Compared to last term

137.7

Sales

(Rounded down to 0.1 billion yen)

Unit: billion yen

Region

Change

Rate of change

107.9

58.9

27.9

41.4

+0.0

7.8

1.4

Japan

16.3

38.5%

North America

6.8

32.5%

Central and

12.8

44.8%

South America

Europe

-0.1

-99.9%

China

-6.7

-46.0%

Southeast Asia

0.6

70.9%

22/09 23/09

Exchange

22/09

USD=¥131.56

RMB=¥18.75

Rate

23/09

USD=¥139.93

RMB=¥19.40

4/33

Reasons for change in performance (consolidated)

Compared to last term

Operating profit and loss

1.7

Region

Change

0.9

Japan

3.1

0.8

Central and

2.4

South

America

+0

Europe

-0

-4.3

+0

Southeast Asia

0.2

-0

North America

1.1

-0

China

-0.7

23/09

22/09

Unit: billion yen (Rounded down to 0.1 billion yen)

Net profit or loss attributable to

owners of parent

1.2 Region Change

Central and

1.1

South

2.5

America

0.1

Europe

+0

+0

China

-0

0.1

+0

Southeast Asia

0.1

Equity method

0.3

affiliates

+0

22/09

-0.2

Japan

-2.6

-0.1

North America

1.0

23/09

5/33

Yamataka factor analysis of operating profit and loss

(consolidated)

Operating profit posted the black on the back of sales recovery except for China and contributions from improvement in profitability structure

Unit: billion yen

Compared to last term

(Rounded down to 0.1 billion yen)

4.0

Contributions from profit improvement

3.0

particularly in Japan and China

0.2

1.7

2.0

Sales increase mainly in

2.1

Japan,North America and

Central & South America

1.0

3.8

0

-1.0

-2.0

-3.0

-4.0

-5.0

-4.3

22/09

Difference in

Rationalization

Others

23/09

units sold and

model mix

6/33

Compared to

last term

Yamataka factor analysis of operating profit and loss (consolidated, by major region)

【Japan】 Recorded the black on sales increase and fix cost

【North America】 Operating loss narrowed to zero on sales

reductions, etc.

increase

2.0

Unit: billion yen

2.0

Unit: billion yen

Unit sold increased by

0.2

0.9

Units sold increased by

77k

1.1

39k

1.0

1.0

1.4

0

1.8

0

-0.2

-0.1

-0

-1.0

Contribution from improvement

-1.0

-1.1

in profit structure

-2.0

-2.0

-2.1

-3.0

-3.0

22/09

Difference in

Rationalization

Other

23/09

22/09

Difference in

Rationalization

Other

23/09

units sold and

units sold and

model mix

model mix

【Central and South America】 Sales increase and

【China】 Rationalization made up for the impact of the sharp

contribution from rationalization of the previous year

sales decline

2.0

Unit: billion yen

2.0

Unit: billion yen

Units sold decreased by

0.2

109k

Foreign exchange translation and

the effect of restructuring of

2.7

0.8

1.0

1.0

affiliate company

-0.5

0.6

-0.7

0

0

0.8

-0

-1.0

-1.0

-1.6

-2.1

-2.0

-2.0

Production fluctuation

Units sold rose by 97k driven by

Management and Profti

new model effect

improvement efforts

-3.0

-3.0

22/09

Difference in Rationalization

Other

23/09

22/09

Difference in Rationalization

Other

23/09

units sold and

uints sold and

model mix

model mix

7/33

Contents

FY2023 Q2 Results

FY2023 Financial Forecast

Progress of the Medium-Term

Management Plan (TVE*)

Shareholder Return

Activity Report

※Transformative Value Evolution

8/33

Full year forecast (consolidated)

Compared to last term

Unit: billion yen (Rounded down to 0.1 billion yen)

23/03

24/03

Change

Change(％)

Sales

243.4

291.0

47.5

19.5

Operating profit

1.3

6.0

4.6

338.5

Ordinary profit or loss

1.9

6.5

4.5

229.2

Quarterly profit or loss attributable

5.8

0.8

-5.0

－

to owners of parent company

  • Overview of financial results for period to March 2024 ＞
  • Sales are expected to increase from the previous year in consideration of continued sluggish sales of gasoline-powered vehicles in the China and sales recovery in Japan and Central and South America.
  • Operating profit is expected to increase based on higher sales, the effect of improvement in profitability structure, and ongoing efforts to manage production cutbacks in China.
  • Net income is expected to decrease from the previous year due to the recording of an extraordinary gain from the sale of real estate in the previous year and an extraordinary loss for additional business restructuring to be booked in the current year.

9/33

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

TACHI-S Co. Ltd. published this content on 24 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2023 00:24:18 UTC.