FY2024 Consolidated Financial Results [IFRS]
(April 1, 2023 through March 31, 2024)
April 26, 2024
This translation may be used only for reference purposes. This English version is a summary of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. AISIN CORPORATION shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, or misunderstanding with regard to this translation.
Company Name | AISIN CORPORATION | Listed on | The Tokyo and Nagoya Stock Exchanges | ||||||||||||||||||||||||||||||||||
Code Number | 7259 | URL | https://www.aisin.com/en | ||||||||||||||||||||||||||||||||||
Representative | Moritaka Yoshida , President | ||||||||||||||||||||||||||||||||||||
Contact person | Yoshio Uchiyama, General Manager Finance & Accounting Dept. | TEL | +81-566-24-8265 | ||||||||||||||||||||||||||||||||||
Scheduled date of the annual regular general meeting of shareholders:June 19, 2024 | |||||||||||||||||||||||||||||||||||||
The expected date of dividends payment:May 29, 2024 | |||||||||||||||||||||||||||||||||||||
Scheduled filing date for reporting on EDINET:June 20, 2024 | |||||||||||||||||||||||||||||||||||||
Additional documents to supplement financial results:Yes (Japanese only) | |||||||||||||||||||||||||||||||||||||
IR presentation:Yes (For analysts and professional investors) | |||||||||||||||||||||||||||||||||||||
1.Consolidated Results for FY2024 (Apr. 1, 2023 through Mar. 31, 2024) | (Amounts less than million yen are rounded down) | ||||||||||||||||||||||||||||||||||||
(1) Consolidated Financial Results | |||||||||||||||||||||||||||||||||||||
(Percent shows changes against previous Fiscal Year) | |||||||||||||||||||||||||||||||||||||
Profit before income | Profit for the period | Comprehensive | |||||||||||||||||||||||||||||||||||
Revenue | Operating profit | Profit for the period | attributable | income | |||||||||||||||||||||||||||||||||
taxes | |||||||||||||||||||||||||||||||||||||
to owners of the parent | for the period | ||||||||||||||||||||||||||||||||||||
Million Yen | % | Million Yen | % | Million Yen | % | Million Yen | % | Million Yen | % | Million Yen | % | ||||||||||||||||||||||||||
FY2024 | 4,909,557 | 11.5 | 143,396 147.5 | 149,877 103.2 | 112,809 135.5 | 90,813 141.1 | 462,984 720.9 | ||||||||||||||||||||||||||||||
FY2023 | 4,402,823 | 12.4 | 57,942 | -68.2 | 73,741 | -66.5 | 47,909 -69.5 | 37,670 | -73.5 | 56,396 | -81.0 | ||||||||||||||||||||||||||
Ratio of profit for the | Ratio of profit before | ||||||||||||||||||||||||||||||||||||
Diluted earnings per | period to equity | Ratio of operating | |||||||||||||||||||||||||||||||||||
Basic earnings per share | income taxes to total | ||||||||||||||||||||||||||||||||||||
share | attributable to | profit to revenue | |||||||||||||||||||||||||||||||||||
assets | |||||||||||||||||||||||||||||||||||||
owners of the parent | |||||||||||||||||||||||||||||||||||||
Yen | Yen | % | % | % | |||||||||||||||||||||||||||||||||
FY2024 | 336.93 | 336.93 | 4.7 | 3.4 | 2.9 | ||||||||||||||||||||||||||||||||
FY2023 | 139.77 | 139.77 | 2.1 | 1.8 | 1.3 | ||||||||||||||||||||||||||||||||
(Reference) Equity in earnings (losses) of affiliates | FY2024 | -8,425Million Yen | FY2023 | 7,332Million Yen | |||||||||||||||||||||||||||||||||
(2) Consolidated Financial Position | |||||||||||||||||||||||||||||||||||||
Equity attributable to | Ratio of equity attributable | Equity attributable | |||||||||||||||||||||||||||||||||||
Total Assets | Total equity | to owners of the parent | |||||||||||||||||||||||||||||||||||
owners of the parent | to owners of the parent | ||||||||||||||||||||||||||||||||||||
per share | |||||||||||||||||||||||||||||||||||||
Million Yen | Million Yen | Million Yen | % | Yen | |||||||||||||||||||||||||||||||||
FY2024 | 4,643,016 | 2,402,029 | 2,135,837 | 46.0 | 7,924.18 | ||||||||||||||||||||||||||||||||
FY2023 | 4,135,826 | 1,991,437 | 1,751,326 | 42.3 | 6,497.86 | ||||||||||||||||||||||||||||||||
(3) Consolidated Cash Flows | |||||||||||||||||||||||||||||||||||||
From operating | From investing | From financing | Cash and cash equivalents | ||||||||||||||||||||||||||||||||||
activities | activities | activities | at the end of FY | ||||||||||||||||||||||||||||||||||
Million Yen | Million Yen | Million Yen | Million Yen | ||||||||||||||||||||||||||||||||||
FY2024 | 499,740 | -93,153 | -211,699 | 527,191 | |||||||||||||||||||||||||||||||||
FY2023 | 237,970 | -186,857 | -127,752 | 317,693 | |||||||||||||||||||||||||||||||||
2.Cash Dividends | |||||||||||||||||||||||||||||||||||||
Annual Cash Dividends Per Share | Dividends | Ratio of equity | |||||||||||||||||||||||||||||||||||
Dividends total | attributable to | ||||||||||||||||||||||||||||||||||||
1st quarter | 2nd quarter | 3rd quarter | 4th quarter | FY Total | Payout Ratio | owners of the | |||||||||||||||||||||||||||||||
parent | |||||||||||||||||||||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | Million Yen | % | % | ||||||||||||||||||||||||||||||
FY2023 | - | 70.00 | - | 100.00 | 170.00 | 45,819 | 121.6 | 2.6 | |||||||||||||||||||||||||||||
FY2024 | - | 80.00 | - | 90.00 | 170.00 | 45,820 | 50.5 | 2.4 | |||||||||||||||||||||||||||||
FY2025 | - | 90.00 | - | 90.00 | 180.00 | 37.3 | |||||||||||||||||||||||||||||||
(Forecast) | |||||||||||||||||||||||||||||||||||||
- 1 -
3.Consolidated forecast for FY2025 (Apr. 1, 2024 through Mar. 31, 2025)
(Percent shows changes against corresponding figures for the previous period)
Revenue | Operating profit | Profit before income | Profit attributable to | Earnings per share | ||||||
taxes | owners of parent | |||||||||
Million Yen | % | Million Yen | % | Million Yen | % | Million Yen | % | Yen | ||
Full year | 4,920,000 | 0.2 | 220,000 | 53.4 | 225,000 | 50.1 | 130,000 | 43.2 | 482.31 | |
4.Others
- Changes in significant subsidiaries:Yes Consolidation scope
Consolidated (New):None
Eliminated :TANGSHAN AISIN AUTOMOTIVE PARTS CO., LTD.
TANGSHAN AISIN AUTOMOTIVE PARTS CO., LTD. was merged into TANGSHAN AISIN GEAR CO., LTD.
- Changes in accounting policies and accounting estimation
- Changes in accounting policies required by IFRS:Yes
② Other changes | :None | |||||
③ Changes in accounting estimation | :None | |||||
(Note) For more information, please refer to (Changes in accounting policies) on page 9. | ||||||
(3) Number of outstanding shares (common stocks) | ||||||
① Number of shares issued including treasury stock as of the | FY2024 | 294,674,634 shares | FY2023 | 294,674,634 shares | ||
respective balance sheet date | ||||||
Number of treasury stock as of the respective balance | FY2024 | 25,140,588 shares | FY2023 | 25,151,250 shares | ||
② sheet date | ||||||
③ Average number of common stocks | FY2024 | 269,532,761 shares | FY2023 | 269,522,153 shares | ||
- 2 -
(Reference) Stand Alone Results for FY2024 (Apr. 1, 2023 through Mar. 31, 2024)
(1) Stand Alone Financial Results
(Percent indications show the percentage of changes against last Fiscal year)
Revenue | Operating profit | Ordinary profit | Profit for the period | |||||||||||||||||||
Million Yen | % | Million Yen | % | Million Yen | % | Million Yen | % | |||||||||||||||
FY2024 | 2,484,121 | 13.5 | 17,128 | - | 49,715 | -32.4 | 109,994 | 50.1 | ||||||||||||||
FY2023 | 2,187,689 | 0.0 | -3,360 | - | 73,547 | -45.5 | 73,274 | -78.2 | ||||||||||||||
Earnings per share | Diluted earnings per share | |||||||||||||||||||||
Yen | Yen | |||||||||||||||||||||
FY2024 | 408.09 | - | ||||||||||||||||||||
FY2023 | 271.87 | - | ||||||||||||||||||||
(2) Stand Alone Financial Position | ||||||||||||||||||||||
Total Assets | Total equity | Tangible net worth ratio | Net worth per share | |||||||||||||||||||
Million Yen | Million Yen | % | Yen | |||||||||||||||||||
FY2024 | 2,968,913 | 1,259,682 | 42.4 | 4,673.56 | ||||||||||||||||||
FY2023 | 2,591,451 | 974,915 | 37.6 | 3,617.18 | ||||||||||||||||||
(Reference) Tangible net worth | FY2024 | 1,259,682Million Yen | FY2023 | 974,915Million Yen |
(Note) The numbers shown on Stand Alone Financial Results are based on Japanese Standard.
(Note) Operating profit and profit for the period increased compared to FY2023 due to an increase in powertrain unit sales from the previous fiscal year and the recording of income on the sale of cross-shareholdings as extraordinary profit.
- This report is exempt from the audit procedure by certified public accountant or audit firm.
- Explanation regarding the appropriate use of forecasts, and other additional information
1. The forecasts included in this document are based on information that the Company has obtained at the time of this disclosure and certain
assumptions that the Company considers reasonable. The Company does not guarantee the predicted outcome of the forecasts.
Actual results may differ significantly from the forecast due to a variety of factors, such as exchange rates and conditions of the global market.
2. The Company is scheduled to hold the earnings briefing for analysts and professional investors on April 26, 2024. The presentation materials for the earnings briefing will be posted on its website promptly following the presentation.
- 3 -
5. Consolidated Financial Statements
(1) Consolidated Statements of Financial Position
(Million Yen) | ||
FY2023 | FY2024 | |
(As of Mar. 31, 2023) | (As of Mar. 31, 2024) | |
Assets | ||
Current assets | ||
Cash and cash equivalents | 317,693 | 527,191 |
Trade and other receivables | 740,442 | 703,708 |
Other financial assets | 44,326 | 39,375 |
Inventories | 534,181 | 536,600 |
Other current assets | 77,475 | 87,269 |
Subtotal | 1,714,118 | 1,894,144 |
Assets held for sale | 15,665 | 3,608 |
Total current assets | 1,729,784 | 1,897,753 |
Non-current assets | ||
Property, plant and equipment | 1,440,280 | 1,470,862 |
Intangible assets | 56,081 | 55,882 |
Right-of-use assets | 65,451 | 67,203 |
Investments accounted for using the equity method | 138,105 | 131,914 |
Other financial assets | 583,573 | 885,677 |
Deferred tax assets | 80,324 | 81,912 |
Other non-current assets | 42,225 | 51,810 |
Total non-current assets | 2,406,041 | 2,745,263 |
Total assets | 4,135,826 | 4,643,016 |
Liabilities and equity | ||
Liabilities | ||
Current liabilities | ||
Trade and other payables | 840,261 | 908,975 |
Bonds and loans payable | 159,880 | 100,227 |
Lease liabilities | 18,392 | 20,905 |
Other financial liabilities | 3,559 | 9,373 |
Provisions | 38,403 | 44,037 |
Income tax payables | 13,414 | 46,670 |
Other current liabilities | 42,466 | 47,652 |
Subtotal | 1,116,378 | 1,177,842 |
Liabilities directly associated with assets held for sale | 1,494 | 312 |
Total current liabilities | 1,117,873 | 1,178,154 |
Non-current liabilities | ||
Bonds and loans payable | 688,815 | 626,067 |
Lease liabilities | 43,378 | 47,461 |
Other financial liabilities | 19,938 | 27,111 |
Retirement benefit liabilities | 206,115 | 205,801 |
Provisions | 2,206 | 2,393 |
Deferred tax liabilities | 49,532 | 142,238 |
Other non-current liabilities | 16,528 | 11,758 |
Total non-current liabilities | 1,026,515 | 1,062,833 |
Total liabilities | 2,144,389 | 2,240,987 |
Equity | ||
Capital stock | 45,049 | 45,049 |
Capital surplus | 74,401 | 79,352 |
Treasury stock | -115,675 | -115,627 |
Other components of equity | 307,125 | 577,590 |
Retained earnings | 1,440,425 | 1,549,472 |
Equity attributable to owners of the parent company | 1,751,326 | 2,135,837 |
Non-controlling interests | 240,110 | 266,192 |
Total equity | 1,991,437 | 2,402,029 |
Total liabilities and equity | 4,135,826 | 4,643,016 |
- 4 -
- Consolidated Statements of Income / Consolidated Statements of Comprehensive Income (Consolidated Statements of Income)
(Million Yen) | ||
FY2023 | FY2024 | |
(Apr. 1, 2022 through | (Apr. 1, 2023 through | |
Mar. 31, 2023) | Mar. 31, 2024) | |
Revenue | 4,402,823 | 4,909,557 |
Cost of revenue | -4,001,434 | -4,358,900 |
Gross profit | 401,389 | 550,656 |
Selling, general and administrative expenses | -339,175 | -417,705 |
Other income | 26,610 | 28,785 |
Other expenses | -30,880 | -18,340 |
Operating profit | 57,942 | 143,396 |
Finance income | 25,036 | 25,445 |
Finance expenses | -16,569 | -10,538 |
Equity in earnings (losses) of affiliates | 7,332 | -8,425 |
Profit before income taxes | 73,741 | 149,877 |
Income tax expenses | -25,832 | -37,068 |
Profit for the period | 47,909 | 112,809 |
Profit for the period attributable to: | ||
Owners of the parent | 37,670 | 90,813 |
Non-controlling interests | 10,238 | 21,996 |
Total | 47,909 | 112,809 |
Earnings per share | ||
Basic earnings per share (Yen) | 139.77 | 336.93 |
Diluted earnings per share (Yen) | 139.77 | 336.93 |
(Consolidated Statements of Comprehensive Income)
(Million Yen) | ||
FY2023 | FY2024 | |
(Apr. 1, 2022 through | (Apr. 1, 2023 through | |
Mar. 31, 2023) | Mar. 31, 2024) | |
Profit for the period | 47,909 | 112,809 |
Other comprehensive income | ||
Items that will not be reclassified to profit or loss | ||
Remeasurements of defined benefit plans | 27,237 | 10,363 |
Net changes in revaluation of financial assets measured at fair value through | -49,014 | 286,827 |
other comprehensive income | ||
Share of other comprehensive income of associates accounted for using the | -506 | -4 |
equity method | ||
Total | ||
-22,282 | 297,187 | |
Items that may be reclassified subsequently to profit or loss |
Net changes in revaluation of financial assets measured at fair value through other comprehensive income
Cash flow hedges
Exchange differences on translating foreign operations
Share of other comprehensive income of associates accounted for using the equity method
Total
Other comprehensive income total Comprehensive income for the period
Comprehensive income for the period attributable to:
Owners of the parent
Non-controlling interests
Total
-75 | 52 |
132 | 77 |
27,867 | 48,896 |
2,843 | 3,960 |
30,769 | 52,987 |
8,487 | 350,174 |
56,396 | 462,984 |
39,353 | 426,802 |
17,043 | 36,182 |
56,396 | 462,984 |
- 5 -
(3) Consolidated Statements of Changes in Equity
FY2023 (Apr. 1, 2022 through Mar. 31, 2023)
(Million Yen)
Equity attributable to owners of the parent
Other components of equity | |||||||
Net changes in | |||||||
Remeasure | revaluation of | Exchange | |||||
Capital | Capital | Treasury | financial assets | Cash | differences | ||
stock | surplus | stock | ments | measured at | on | ||
of defined | flow | Total | |||||
fair value | translation | ||||||
benefit | hedges | ||||||
through other | of foreign | ||||||
plans | |||||||
comprehensive | operations | ||||||
income
Balance as of April 1, 2022 Hyperinflation adjustment
Balance as of April 1, 2022 After adjustment
45,049 | 76,282 | -115,723 | - | 325,493 | -253 | 5,084 | 330,324 |
- | - | - | - | - | - | - | - |
45,049 | 76,282 | -115,723 | - | 325,493 | -253 | 5,084 | 330,324 |
Profit for the period
Other comprehensive income
Comprehensive income for the period
Acquisition of treasury stock Disposal of treasury stock Dividends
Changes in the ownership interest in subsidiaries
Transfer from other components of equity to retained earnings
Total transactions with owners Balance as of Mar. 31, 2023
- | - | - | - | - | - | - | - |
- | - | - | 24,617 | -49,303 | 138 | 26,229 | 1,682 |
- | - | - | 24,617 | -49,303 | 138 | 26,229 | 1,682 |
- | - | -5 | - | - | - | - | - |
- | -13 | 53 | - | - | - | - | - |
- | - | - | - | - | - | - | - |
- | -1,867 | - | 52 | - | - | - | 52 |
- | - | - | -24,670 | -263 | - | - | -24,933 |
- | -1,880 | 48 | -24,617 | -263 | - | - | -24,881 |
45,049 | 74,401 | -115,675 | - | 275,926 | -114 | 31,313 | 307,125 |
Equity attributable to owners of the parent
Retained | Non-controlling interests | Total equity | |
Total | |||
earnings | |||
Balance as of April 1, 2022 Hyperinflation adjustment
Balance as of April 1, 2022 After adjustment
1,420,583 | 1,756,516 | 239,992 | 1,996,508 |
3,055 | 3,055 | - | 3,055 |
1,423,638 | 1,759,571 | 239,992 | 1,999,563 |
Profit for the period
Other comprehensive income
Comprehensive income for the period
Acquisition of treasury stock Disposal of treasury stock Dividends
Changes in the ownership interest in subsidiaries
Transfer from other components of equity to retained earnings
Total transactions with owners Balance as of Mar. 31, 2023
37,670 | 37,670 | 10,238 | 47,909 |
- | 1,682 | 6,804 | 8,487 |
37,670 | 39,353 | 17,043 | 56,396 |
- | -5 | - | -5 |
- | 39 | - | 39 |
-45,818 | -45,818 | -8,491 | -54,309 |
- | -1,814 | -8,433 | -10,248 |
24,933 | - | - | - |
-20,884 | -47,598 | -16,925 | -64,523 |
1,440,425 | 1,751,326 | 240,110 | 1,991,437 |
- 6 -
FY2024 (Apr. 1, 2023 through Mar. 31, 2024)
(Million Yen)
Equity attributable to owners of the parent
Other components of equity | |||||||
Net changes in | |||||||
Remeasure | revaluation of | Exchange | |||||
Capital | Capital | Treasury | financial assets | Cash | differences | ||
stock | surplus | stock | ments | measured at | on | ||
of defined | flow | Total | |||||
fair value | translation | ||||||
benefit | hedges | ||||||
through other | of foreign | ||||||
plans | |||||||
comprehensive | operations | ||||||
income
Balance as of April 1, 2023 Profit for the period
Other comprehensive income
Comprehensive income for the period
Hyperinflation adjustment Acquisition of treasury stock Disposal of treasury stock Dividends
Changes in the ownership interest in subsidiaries
Change in scope of consolidation
Transfer from other components of equity to retained earnings
Total transactions with owners Balance as of Mar. 31, 2024
45,049 | 74,401 | -115,675 | - | 275,926 | -114 | 31,313 | 307,125 |
- | - | - | - | - | - | - | - |
- | - | - | 8,633 | 284,752 | 80 | 42,522 | 335,988 |
- | - | - | 8,633 | 284,752 | 80 | 42,522 | 335,988 |
- | - | - | - | - | - | - | - |
- | - | -6 | - | - | - | - | - |
- | -9 | 55 | - | - | - | - | - |
- | - | - | - | - | - | - | - |
- | 4,959 | - | - | - | - | - | - |
- | - | - | 90 | - | - | -310 | -220 |
- | - | - | -8,723 | -56,579 | - | - | -65,303 |
- | 4,950 | 48 | -8,633 | -56,579 | - | -310 | -65,523 |
45,049 | 79,352 | -115,627 | - | 504,099 | -34 | 73,526 | 577,590 |
Equity attributable to owners of the parent
Retained | Total | Non-controlling interests | Total equity | |
earnings | ||||
Balance as of April 1, 2023 | 1,440,425 | 1,751,326 | 240,110 | 1,991,437 |
Profit for the period | 90,813 | 90,813 | 21,996 | 112,809 |
Other comprehensive income | - | 335,988 | 14,185 | 350,174 |
Comprehensive income for the | 90,813 | 426,802 | 36,182 | 462,984 |
period | ||||
Hyperinflation adjustment | ||||
1,445 | 1,445 | - | 1,445 | |
Acquisition of treasury stock | - | -6 | - | -6 |
Disposal of treasury stock | - | 46 | 1 | 47 |
Dividends | -48,515 | -48,515 | -9,052 | -57,567 |
Changes in the ownership | - | 4,959 | -1,050 | 3,909 |
interest in subsidiaries | ||||
Change in scope of consolidation | - | -220 | - | -220 |
Transfer from other components | 65,303 | - | - | - |
of equity to retained earnings | ||||
Total transactions with owners | ||||
16,787 | -43,736 | -10,100 | -53,837 | |
Balance as of Mar. 31, 2024 | 1,549,472 | 2,135,837 | 266,192 | 2,402,029 |
- 7 -
(4) Consolidated Statements of Cash Flows
(Million Yen) | ||
FY2023 | FY2024 | |
(Apr. 1, 2022 through | (Apr. 1, 2023 through | |
Mar. 31, 2023) | Mar. 31, 2024) | |
Net cash provided by (used in) operating activities | ||
Profit before income tax | 73,741 | 149,877 |
Depreciation and amortization | 277,187 | 274,300 |
Impairment losses | 19,981 | 4,092 |
Decrease (increase) in trade and other receivables | -80,483 | 89,617 |
Decrease (increase) in inventories | 56,910 | 30,143 |
Increase (decrease) in trade and other payables | -35,186 | -4,753 |
Other, net | -13,964 | -29,110 |
Subtotal | 298,185 | 514,167 |
Interest income received | 2,958 | 5,067 |
Dividends income received | 18,397 | 21,940 |
Interest expenses paid | -11,865 | -8,516 |
Income taxes paid | -69,706 | -32,919 |
Net cash provided by (used in) operating activities | 237,970 | 499,740 |
Net cash provided by (used in) investing activities | ||
Decrease (increase) in time deposits | 26,215 | -4,891 |
Purchase of property, plant and equipment | -212,312 | -228,148 |
Proceeds from sales of property, plant and equipment | 6,560 | 10,111 |
Purchase of intangible assets | -26,558 | -16,316 |
Purchase of investment securities | -2,309 | -2,283 |
Proceeds from sales and redemption of investment securities | 6,458 | 118,957 |
Proceeds from collection of lease receivables | 14,874 | 14,054 |
Proceeds from sales of subsidiaries or other businesses | - | 13,075 |
Other, net | 214 | 2,288 |
Net cash provided by (used in) investing activities | -186,857 | -93,153 |
Net cash provided by (used in) financing activities | ||
Increase (decrease) in short-term bank loans and commercial papers | 22,674 | -41,939 |
Proceeds from long-term loans payable | 555 | 5,359 |
Repayment of long-term loans payable | -65,249 | -80,288 |
Redemption of bonds | - | -15,000 |
Repayment of lease payables | -25,507 | -25,949 |
Cash dividends paid | -45,792 | -48,502 |
Cash dividends paid to non-controlling interests | -8,491 | -9,052 |
Other, net | -5,941 | 3,672 |
Net cash provided by (used in) financing activities | -127,752 | -211,699 |
Effect of exchange rate change on cash and cash equivalents | 8,959 | 13,207 |
Net increase (decrease) in cash and cash equivalents | -67,680 | 208,094 |
Cash and cash equivalents at beginning of period | 386,906 | 317,693 |
To reclassify cash and cash eqiuvalents included in assets held for sale | -1,532 | 1,403 |
Cash and cash equivalents at end of period | 317,693 | 527,191 |
- 8 -
-
Notes to the Consolidated Financial Statements (Going concern assumption)
None
(Changes in accounting policies)
Beginning from FY2024, the company has adopted "Amended by Deferred Tax related to Assets and Liabilities arising from a Single Transaction" (Amendments to IAS12). The adoption of this atandard has no significant impact on the Consolidated Financial Statements of the company.
(Segments information)
1. General information regarding reportable segments
The reportable segments of the Group are components for which financial information is available and whose operating results are periodically
reviewed by the Board of Directors to make decisions about allocation of resources and to assess performance.
We devise strategies, policies and goals for maximizing sustainable business value for the entire Group by meeting diverse needs near major automobile manufacturers around the world, and developing, producing, and selling high value-added products. We have assigned officers in charge of each region to supervise the devising of comprehensive strategies in the regions. In addition, the Group mainly manufactures and sells automobile parts, etc., and each company is conducting business activities by devising comprehensive strategies as independent management units in each region.
Therefore, the Group consists of segments by location of the company based on the manufacture and sale of automobile parts, etc., and set five reportable segments: "Japan", "North America", "Europe", "China", and "ASEAN and India". Therefore, reportable segments and its product and service are as follows.
Segment | Product and service | |
Japan | Overall automotive parts | |
Energy solution related products etc. | ||
North America | Overall automotive parts | |
Europe | Overall automotive parts | |
China | Overall automotive parts | |
ASEAN and India | Overall automotive parts | |
2. Change in reportable segment classification
From the beginning of the current consolidated fiscal year, the Group's reportable segments has been changed from four segments of "Japan",
"North America", "Europe" and "China" to five segments of "Japan", "North America", "Europe", "China", and "ASEAN and India" due to the review of performance management classification. "ASEAN and India" includes consolidated subsidiaries located in Thailand, Indonesia, Philippines, India, and Singapore.
The segment information for the previous consolidated fiscal year has been restated based on the new reportable segments.
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2. Revenue and profit by reportable segments FY2023(Apr. 1, 2022 through Mar. 31, 2023)
(Million Yen) | ||||||||||
Reportable Segments | ||||||||||
Japan | North | Europe | China | ASEAN | Total | Others | Adjustments | Total | ||
America | and India | |||||||||
Revenue | ||||||||||
(1) Revenue from third | 2,219,693 | 814,368 | 343,873 | 531,951 | 456,826 | 4,366,713 | 36,110 | - | 4,402,823 | |
parties | ||||||||||
(2) Inter-segment | 633,725 | 14,641 | 9,640 | 16,579 | 35,824 | 710,410 | 49 | -710,460 | - | |
Total | 2,853,419 | 829,009 | 353,513 | 548,530 | 492,650 | 5,077,124 | 36,159 | -710,460 | 4,402,823 | |
Segment profit (loss) | -4,594 | -32,539 | 8,369 | 16,044 | 58,582 | 45,862 | 3,706 | 8,373 | 57,942 | |
Finance income | 25,036 | |||||||||
Finance expenses | -16,569 | |||||||||
Equity in earnings (losses) of affiliates | 7,332 | |||||||||
Profit before income taxes | 73,741 | |||||||||
(Note1) Others include omitted non-core regions that manufacture and sell automotive parts, such as Brazil.
(Note2) Inter-segment revenue is based on transaction price negotiated each year in consideration of market price and total cost.
(Note3) Segment profit (loss) is based on Operating profit.
FY2024(Apr. 1, 2023 through Mar. 31, 2024)
(Million Yen) | ||||||||||
Reportable Segments | ||||||||||
Japan | North | Europe | China | ASEAN | Total | Others | Adjustments | Total | ||
America | and India | |||||||||
Revenue | ||||||||||
(1) Revenue from | 2,450,841 | 982,393 | 364,773 | 612,373 | 456,587 | 4,866,969 | 42,587 | - | 4,909,557 | |
third parties | ||||||||||
(2) Inter-segment | 744,423 | 18,141 | 11,082 | 22,943 | 43,524 | 840,115 | 43 | -840,158 | - | |
Total | 3,195,265 | 1,000,535 | 375,855 | 635,316 | 500,111 | 5,707,084 | 42,631 | -840,158 | 4,909,557 | |
Segment profit (loss) | 62,609 | -25,154 | 7,748 | 36,470 | 56,164 | 137,837 | 4,702 | 855 | 143,396 | |
Finance income | 25,445 | |||||||||
Finance expenses | -10,538 | |||||||||
Equity in earnings (losses) of affiliates | -8,425 | |||||||||
Profit before income taxes | 149,877 | |||||||||
(Note1) Others include omitted non-core regions that manufacture and sell automotive parts, such as Brazil.
(Note2) Inter-segment revenue is based on transaction price negotiated each year in consideration of market price and total cost.
(Note3) Segment profit (loss) is based on Operating profit.
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Aisin Corporation published this content on 26 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2024 14:36:28 UTC.