Presentation Transcripts
Latest Update : May 27, 2020
Back to Financial Results (FY3/2020)
Investor Meeting Presentation for FY 3/2020 held on May 8, 2020
- Cover
- Today's Agenda
- Financial Results
- Summary of Consolidated Business Results
- Summary of Consolidated Business Results for 4Q
- Net Sales, Operating Income/margin Yearly
- Net Sales, Operating Income/margin Quarterly
- 4Q Actual: Differences from the Forecast as of February
- Machined Components Yearly
- Machined Components Quarterly
- Electronic Devices & Components Yearly
- Electronic Devices & Components Quarterly
- Mitsumi Business Yearly
- Mitsumi Business Quarterly
- U-Shin Business Yearly
- U-Shin Business Quarterly
- Profit attributable to owners of the parent / EPS Yearly
- Profit attributable to owners of the parent / EPS Quarterly
- Inventory
- Net interest-bearing debt / Free cash flow
- Forecast for Fiscal Year Ending March 31, 2021
- Forecast for Business Segment
- Management Policy & Business Strategy
- Summary of FY3/20 "Net Sales Hit Record Highs"
- Key Points of FY3/21 Plan
- Image of Operating Income for FY3/21
- OP Rank within Electronic Component Sector
- Impact from the Novel Coronavirus
- Mid-term Business Plan Targets
- Machined Components Targets
- Electronic Devices and Components Targets
- Mitsumi Business Targets
- U-Shin Business Targets
- Acquisition of All Shares of ABLIC Inc.
- Focused Development Field
- Building the Strongest Domestic Association
- Ranking Changed in Eight Spears Strategy
- Our Response to the Novel Coronavirus
- Use of FCF and Shareholder Returns
- Dividend Forecast
- Forward-looking Statements
- Reference
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Last fiscal year was very disappointing for me.
Over the last five years I had been telling everyone across the company to aim for 1 trillion yen in net sales and, up until around last December, I was told that we were on track to reach that target. I always warned the employees that something unexpected could happen to end our upward trajectory, and that something happened in the form of the ongoing COVID-19 crisis that has cut our net sales down to 978 billion yen, about 22 billion yen short of the target. Although this figure was the highest ever, we didn't make it to 1 trillion yen.
This page has a lot of information, so please take a look at it later. The bottom line here is we didn't cut dividend payments. We usually calculate the dividend at a payout ratio of 20%, or somewhere between 17.5% and 22.5%, but this time we bent over backwards to make it 25% in order to keep the dividend the same as it has been over the last several years. Although people have told me to buy back more shares or carry out more M&As, I decided that paying a dividend is the right thing to do in keeping with the long-term approach of Japanese style management. We usually pay dividends in mid-July, but due to the current circumstances, we will pay them in early June when we issue a notice of the ordinary general meeting of shareholders since we can pay dividends upon resolution of the board of directors and without obtaining approval at the shareholders meeting.
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