Financial results for FY2020 Q1 Financial Summary · 2020-05-20 · Financial results for FY2020 Q1...
Transcript of Financial results for FY2020 Q1 Financial Summary · 2020-05-20 · Financial results for FY2020 Q1...
Financial results for FY2020 Q1
Financial Summary
NIKKISO CO., LTD.May 15, 2020
Securities code: 6376
Disclaimer
This material contains forward-looking statements about future business performance. These statements by definition involve risks and uncertainties and are not intended to guarantee future performance. Actual results in the future may differ from the
estimates presented in the material herein due to changes in the business environment and other factors.
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 2
Ⅰ. Consolidated Performance
Appendix
Ⅱ. Performance by Business Segment
Ⅲ. Financial forecast
Company Information
Table of Contents
Ⅰ. Consolidated Performance
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 4
Both revenue and profit declined due to the spread of COVID-19, but the
Medical Division’s performance remained strong.
[Industrial]
In Industrial Business, shipments for existing oil-related business orders increased, but after-sales service
operations slowed down. Industrial gas/LNG-related business revenue rose as shipments for existing
orders increased. Last year’s sale of the particle analytical equipment business led to a revenue decrease
of 1.1 billion yen. Aerospace Business revenue from the sale of products for Boeing 737 MAX decreased.
[Medical]
In hemodialysis business, sales of machines remained on par with the previous year, but those of
disposables rose. The CRRT business has been strong due to higher needs for treatment of acute kidney
injury caused by COVID-19
Decreased by 998 million yen (Industrial: △2,195; Medical: +1,197)
Decreased by 886 million yen (Industrial: △836; Medical: +98)
Financial Summary
Revenue
Operating
Profit
[Industrial]
Both the Industrial Business and the Aerospace Business posted lower profit due to lower revenue.
[Medical]
Hemodialysis business profit declined slightly due to higher costs. CRRT business profit increased thanks to
improved profitability driven by revenue growth.
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 5
(Millions of JPY)
FY2019 Q1Jan.2019 – Mar.2019
FY2020 Q1Jan.2020 – Mar.2020
Change Change rate
Orders 43,657 40,079 △3,577 △8.2%
Revenue 37,480 36,481 △998 △2.7%
Operating profit 2,154 1,268 △886 △41.1%
Operating margin 5.7% 3.5%
Profit before tax 1,927 993 △933 △48.4%
Pretax profit margin 5.1% 2.7%
Profit for the yearattributable to owners of the company
1,402 733 △668 △47.7%
Profit marginattributable to owners of the company
3.7% 2.0%
Average foreign exchange rate
Against the US dollar (Yen) 110.22 108.86 △1.36 -
Against the euro (Yen) 125.16 120.08 △5.08 -
Consolidated Performance
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 6
Breakdown of Profit/Loss
(Millions of JPY)
FY2019Jan.2019 – Mar. 2019
FY2020Jan. 2020 – Mar. 2020
Change Remarks
Gross profit 12,849 11,343 △1,505
- Selling, general and administrative expenses 10,843 10,632 △210
- Other income 156 615 +459Income from a joint venture agreement in the deep UV-LED business (income from a licensing agreement: +500)
- Other expenses 7 58 +50
Operating profit 2,154 1,268 △886
- Financial income 39 83 +44
- Financial costs 336 359 +23
- Share of profit of associates and joint ventures accounted for using the equity method
70 0 △69
Profit before tax 1,927 993 △933
Closing rate
- Against the US dollar (Yen)
- Against the euro (Yen) 110.99 108.83 △2.16
Gross profit 124.56 119.55 △5.01
Ⅱ. Performance by Business Segment
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 8
Performance by Business Segment
(Millions of JPY)FY2019 Q1
Jan.2019 - Mar.2019
FY2020 Q1Jan.2020 - Mar.2020
YoY comparison
Change Change rate
Orders 43,657 40,079 △3,577 △8.2%
Industrial Business 28,588 25,064 △3,523 △12.3%
Industrial 24,423 21,210 △3,212 △13.2%
Aerospace 4,102 3,734 △367 △9.0%
Medical Business 15,068 15,014 △53 △0.4%
Revenue 37,480 36,481 △998 △2.7%
Industrial Business 24,304 22,108 △2,195 △9.0%
Industrial 20,055 18,329 △1,726 △8.6%
Aerospace 4,168 3,664 △504 △12.1%
Medical Business 13,175 14,372 +1,197 +9.1%
Operating ProfitOperating margin
2,1545.7%
1,2683.5%
△886 △41.1%
Industrial BusinessOperating margin
2,0898.6%
1,2535.7%
△836 △40.0%
Medical BusinessOperating margin
9006.8%
9987.0%
+98 +10.9%
Corporate Expenses △835 △984 △148 -
* As part of the organizational restructuring implemented on January 1, 2020, the Precision Equipment Division was integrated into the Industrial Division. Therefore, figures for the Precision
Equipment Business are included in those of the Industrial Business. The particle analytical equipment business, a part of Precision Equipment Business, was sold in FY2019 Q3.
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 9
Orders Analysis (vs FY2019)
< Medical>< Aerospace >< Industrial, etc. >
FY2019 Q1(Jan.2019-Mar.2019)
Orders
43,657
+111 △165
△2,599
△556△342
△24
Simpledecrease
(Millions of JPY)
Simpledecrease
Decreased 3,577 million yen year on year (Simple decrease: △2,830; Impact of FX: △747)
Simpleincrease
Impact of FX
Impact of FX Impact of FX
FY2020 Q1(Jan.2020-Mar.2020)
Orders
40,079
✓ LNG-related business: Orders
received declined due to the
postponement of investment
decisions or delays in project
completion.
✓ The sale of the particle analytical
equipment business (in FY2019
Q3) caused a drop in orders.
✓ Orders received declined due to
737 MAX production suspension.
✓ In hemodialysis business, dialysis
machine orders received fell slightly,
but the number of quotation
requests for domestic new
machines increased.
✓ Orders received for CRRT
(Continuous Renal Replacement
Therapy) business increased due to
higher needs for treatment of acute
kidney injury caused by COVID-19.
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 10
Revenue Analysis (vs FY2019)
< Medical>< Aerospace >< Industrial, etc. >
(Millions of JPY)
FY2019 Q1(Jan.2019-Mar.2019)
Revenue
37,480
△169+1,366
Simpledecrease
△1,281
△410
△480
△24
Simpledecrease
Decreased 998 million yen year on year (Simple decrease: △395; Impact of FX: △603)
Impact of FX
Impact of FX
Impact of FXSimple
increaseFY2020 Q1
(Jan.2020-Mar.2020)Revenue
36,481
✓ In LEWA, shipments for existing
orders increased, but after-sales
service operations slowed down
due to COVID-19.
✓ The sale of the particle
analytical equipment business
(in FY2019 Q3) caused a drop in
revenue.
✓ Sales decreased due to 737 MAX
production suspension.
✓ Achieved strong hemodialysis
machine sales to China.
✓ Sales of disposables increased
in hemodialysis business.
✓ Strong sales of machines and
disposables in CRRT business.
Copyright © 2020 NIKKISO CO., LTD. All rights reserved.
< Medical>< Aerospace>< Industrial, etc. >
11
Operating profit Analysis (vs FY2019)
(Millions of JPY)
+168 △70△148
FY2019(Jan.2019-Mar.2019)
Operating profit
2,154
△694△20
△109
△11
Decreased 886 million yen year on year (Simple decrease: △635; Impact of FX: △102;
Corporate expenses:△148)
Simpledecrease
Simpledecrease
Simpleincrease
Impact of FX
Impact of FX
Impact of FX Increase in corporate
expenses, etc. FY2020(Jan.2020-Mar.2020)
Operating profit
1,268✓ Shipments decreased in
Industrial Business.
✓ UV-LED licensing income
increased by 500 million yen.
✓ Sales of products used for
737 MAX declined.
✓ Depreciation and other
expenses of the Aerospace
factory in Miyazaki increased.
✓ CRRT business profitability
improved thanks to increased
sales.
✓ Production and logistics costs
increased in hemodialysis
business.
✓ Expenses related
to the
restructuring of
domestic bases
increased.
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 12
Industrial Division
FY2019 Q1Jan.2019 – Mar. 2019
FY2020 Q1Jan. 2020– Mar. 2020
YoY comparison
Change Change rate
Orders 21,676 20,251 △1,424 △6.6%
Revenue 17,536 17,227 △308 △1.8%
Revenue Composition ratio by Product
37%
7%14%8%
29%
5%
FY2020 Q1
Reciprocating pump
Canned motor pump
Cryogenics pump
Geveke
CI Group
Others
Topics
Q1 Results
Consolidated performance
(Millions of JPY)
• Crude oil prices fell in March due to fiercer price competition among oil-producing countries and the effects
of COVID-19. The suspension or postponement of ongoing projects is limited, but some new investment
deals have already been suspended or postponed.
• In industrial gas/LNG-related business, making decisions on some investment deals were postponed, and
there were some delays in the completion of deals.
• Continuously maintaining stable product supply through manufacturing bases around the world, while
ensuring employee safety as our top priority.
• Currently building a cryogenic pump testing facility in Miyazaki to meet the increasing demand for LNG from
a medium to long term perspective.
Copyright © 2020 NIKKISO CO., LTD. All rights reserved.
FY2020
13
Quarterly performance trend of LEWA
58
132
197
247
71
136
206
270
79
263
46
94
153
237
53
108
177
242
52
260
1 411
22
512
2634
5
33
106
133 138
95
115 123 125 124
151
-200
-150
-100
-50
0
50
100
150
0
50
100
150
200
250
300
350
Order (Left axis) Reveue (Left axis) EBITDA(Left axis) Order backlog(Right axis)
Q1 Q2 Q3 Q4 Q1 Q2 Q3
FY2018 FY2019
Q1 Q4Q3Q2Q4
2020(forecast)
(Millions of €)
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 14
Quarterly performance trend of CI group
54
87
137
212
51
96
140
180
42
230
31
65
112
124
43
87
113
182
46
209
1 511
175 9 11
163
20
114 108 111
138 146 147 150
136 136
-150
-100
-50
0
50
100
150
0
50
100
150
200
250
300
Order (Left axis) Reveue (Left axis) EBITDA(Left axis) Order backlog(Right axis)(Millions of $)
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
FY2018 FY20192020
(forecast)
Q1 Q4Q3Q2
FY2020
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 15
Precision Equipment Division
FY2019 Q1Jan.2019 – Mar. 2019
FY2020 Q1Jan. 2020– Mar. 2020
YoY comparison
Change Change rate
Orders 2,747 959 △1,788 △65.1%
Revenue 2,518 1,101 △1,417 △56.3%
Revenue Composition ratio by Product
Power plant-related equipment
Electronic component manufacturing equipment
Others
37%
48%
15%
FY2020Q1
Consolidated performance
Topics
Q1 Results
(Millions of JPY)
• Orders received for power plant-related equipment decreased year on year as we did not receive large
orders in foreign countries. Revenue increased as periodic inspections for thermal power plants were
intensively conducted.
• Orders for electronic component-related equipment have been pushed back to Q2 or later due to the
effects of COVID-19, although the MLCC market (a main market) is on track for recovery.
• No impact from COVID-19 on manufacturing as contract manufacturing continues.
*FY2019 Q1 figures include those related to the particle analytical equipment business (which was sold in FY2019 Q3).
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 16
Aerospace Division
FY2019 Q1Jan.2019 – Mar. 2019
FY2020 Q1Jan. 2020– Mar. 2020
YoY comparison
Change Change rate
Orders 4,102 3,734 △367 △9.0%
Revenue 4,168 3,664 △504 △12.1%
Revenue Composition ratio by Product
Cascade
Wing parts
Others
Jet engine parts
Nacelle parts36%
15%
29%
18%
2%
FY2020Q1
Consolidated performance
Topics
Q1 Results
(Millions of JPY)
• US-based Boeing’s suspension of 737 MAX production led to our suspension of cascade shipments for such
production, resulting in a decline in sales. Both revenue and profit decreased year on year due to increased
expenses, including depreciation expenses incurred at the Aerospace factory in Miyazaki.
• Demand for all types of aircrafts plunged suddenly as airline companies around the world significantly
decreased flights.
• Relocated equipment from Shizuoka to Miyazaki last year, and in March began to manufacture products
that used to be manufactured in Shizuoka. Currently carrying out transfer work, as scheduled, to start the
mass production of fan case liners in Miyazaki.
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 17
Medical Division
FY2019 Q1Jan.2019 – Mar. 2019
FY2020 Q1Jan. 2020– Mar. 2020
YoY comparison
Change Change rate
Orders 15,068 15,014 △53 △0.4%
Revenue 13,175 14,372 +1,197 +9.1%
Revenue Composition ratio by Product
10%
10%
32%
4%
12%
13%
19%
(Japan) Dialysis machines
(Overseas) Dialysis machines
(Japan) Disposable
Maintenance
CRRT
Others
FY2020Q1
Topics
Q1 Results
Consolidated performance
(Overseas) Disposable
(Millions of JPY)
• Sales of hemodialysis machine remained on par with the previous year, although sales activities were
restricted due to the effects of COVID-19. Hemodialysis business revenue rose as sales of disposables strong,
but profit fell due to increased manufacturing and logistics costs, etc.
• CRRT business and healthcare product sales grew due to higher needs for treatment of acute renal failure
and prevention of virus infections. CRRT business performance improved thanks to an increasing number of
quotation requests.
• Began building a new factory in Vietnam to enable the stable supply of blood tubing lines that have been
increasingly in demand around the globe.
• Decided to build a medical training center in Miyazaki as part of the restructuring of bases (scheduled to be
established in May 2021). Aim to further strengthen relationships with medical personnel by providing them
with valuable experiences.
Ⅲ. Financial forecast
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 19
Consolidated Performance
(Millions of JPY)
FY2019
Actual record
FY2020
Performance forecastYoY comparison
Change Change rate
Orders 167,034 177,000 +9,965 +6.0%
Revenue 165,780 174,000 +8,219 +5.0%
Operating profit 12,466 11,000 △1,466 △11.8%
Operating margin 7.5% 6.3%
Profit before tax 11,381 10,000 △1,381 △12.1%
Pretax profit margin 6.9% 5.7%
attributable to owners of the company
Profit for the year 6,813 6,000 △813 △11.9%
Profit margin attributable to owners of the company
4.1% 3.4%
Average/ForecastAgainst the US dollar (Yen)
Against the euro (Yen) 109.03122.03
109.00120.00
△0.03△2.03
Forex sensitivity for FY2020 (When
yen was depreciated by 1 yen)
US dollar (Yen)
Euro (Yen)
Revenue +460 million yen Operating profit +80 million yenRevenue +400 million yen Operating profit +70 million yen
Financial forecast remains unchanged. After assessing the impact of environmental changes in each business, strengthening
various measures and analyzing the effects of countermeasures in detail, if any revision becomes necessary in future, the
Company will disclose new forecast immediately.
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 20
Performance by Business Segment
(Millions of JPY)
FY2019Actual record
FY2020
Performance forecastYoY comparison
Orders 167,034 177,000 +9,965 +6.0%
Industrial Business 104,437 111,000 +6,562 +6.3%
Industrial 77,623 85,000 +7,376 +9.5%
Precision Equipment 7,571 6,500 △1,071 △14.2%
Aerospace 17,926 18,500 +573 +3.2%
Medical Business 62,597 66,000 +3,402 +5.4%
Revenue 165,780 174,000 +8,219 +5.0%
Industrial Business 103,734 108,000 +4,265 +4.1%
Industrial 75,238 82,000 +6,761 +9.0%
Precision Equipment 9,233 6,500 △2,733 △29.6%
Aerospace 17,955 18,500 +544 +3.0%
Medical Business 62,046 66,000 +3,953 +6.4%
Operating ProfitOperating margin
12,4667.5%
11,0006.3%
△1,466 △11.8%
Industrial BusinessOperating margin
10,85110.5%
10,2009.4%
△651 △6.0%
Medical BusinessOperating margin
3,4475.6%
5,5008.3%
+2,052 +59.5%
Corporate Expenses △1,833 △4,700 △2,866
Appendix
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 22
34,492
75,578
115,437
165,326
37,480
78,956
121,193
165,780
36,481
84,000
174,000
864
3,168
6,308
10,302
2,154
3,558
9,511
12,466
1,268
4,000
11,000
0
2,500
5,000
7,500
10,000
12,500
15,000
17,500
20,000
0
30,000
60,000
90,000
120,000
150,000
180,000
Revenue Operating Profit
FY2018
Q1 Q2 Q3 Q4
Quarterly results trend
(Millions of JPY)
FY2019 FY2020
Average foreign exchange rate
1$ = 110.44Yen1€ = 130.35Yen
Average foreign exchange rate
1$ = 109.03Yen1€ = 122.03Yen
Foreign exchange rate (forecast)
1$ = 109.00Yen1€ = 120.00Yen
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 23
Consolidated Statement of Financial Position
As of end of December 2019 As of end of March 2020
(Millions of JPY)Amount
Composition ratio Amount
Composition ratio Change
Total assets 252,984 100.0% 261,543 100.0% +8,558
Total current assets 113,020 44.7% 120,139 45.9% +7,118
Cash and cash equivalents 20,303 8.0% 27,912 10.7% +7,608
Trade and other receivables 53,256 21.1% 49,194 18.8% △4,062
Inventories 35,523 14.0% 38,563 14.7% +3,039
Total non-current assets 139,964 55.3% 141,403 54.1% +1,439
Property, plant and equipment 41,849 16.5% 43,836 16.8% +1,986
Goodwill and Intangible assets 61,105 24.2% 61,263 23.4% +158
Total liabilities 169,571 67.0% 181,600 69.4% +12,028
Trade and other payables 28,231 11.2% 26,446 10.1% △1,785
Bonds and borrowings 104,731 41.4% 117,331 44.9% +12,599
Total equity 83,413 33.0% 79,942 30.6% △3,470
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 24
Revenue Composition Ratio by Region
81%
19%Japan
Asia
North America
Europe
Others
21%
5%
70%
4%
66%
19%
12%
2%
20%
30%
40%
50%
60%
70%
0
20,000
40,000
60,000
80,000
100,000
120,000
09/3 10/3 11/3 12/3 13/3 14/3 15/3 15/12 16/12 17/12 18/12 19/12
Asia North America
Europe Others
Overseas revenue ratio (right axis)
Overseasrevenue ratio
63%
(9 months)
(Millions of JPY)
13%
36%
23%
24%
3%
FY2020Q1
Japan
37%
Asia25%
North America
18%
Europe17%
Others2%
FY2020Q1
FY2020Q1
FY2020Q1
FY2020Q1
Industrial Precision Equipment Aerospace Medical
Nikkiso Group Total Revenue trend by overseas region
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 25
Breakdown of forex sensitivity
(Millions of JPY)FY2020
Performance forecast
Against the US dollar Against the euro
RevenueOperating
profitRevenue
Operating
profit
Industrial Division/
Precision Equipment Division+310 +20 +320 +30
Aerospace Division +140 +90 +0 +0
Medical Division +10 △30 +80 +40
Total +460 +80 +400 +70
Average/Forecast (Yen) 109.00 120.00
※When yen was depreciated by 1 yen
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 26
Financial data
FY2016 FY2017 FY2018 FY2019
Earnings per share (Basic) 66.08yen 72.82yen 104.63yen 95.68yen
Return on equity (ROE) 7.2% 7.3% 9.8% 8.6%
Return on asset (ROA) 3.8% 3.9% 3.9% 4.5%
Operating margin 6.2% 6.2% 6.2% 7.5%
Equity ratio 37.4% 30.7% 30.7% 32.2%
Debt/equity ratio 1.05times 1.63times 1.53times 1.28times
(Millions of JPY) FY2016 FY2017 FY2018 FY2019
Capital expenditure 7,635 7,508 12,869 7,220
Research and development expenditure 1,679 2,435 2,387 2,346
Depreciation and amortization 4,766 5,246 6,335 8,994
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 27
(Millions of JPY) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
FY201820,066 19,760 18,808 23,604
overseas 18,316 17,659 16,974 20,488
FY201921,676 19,727 18,147 18,075
overseas 20,422 16,050 16,819 15,704
FY202020,251
overseas 18,241
(Millions of JPY) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
FY201843,058 44,457 43,496 43,674
overseas 40,088 41,298 40,305 39,608
FY201947,813 49,402 48,938 46,058
overseas 44,435 44,282 44,900 41,700
FY202049,883
overseas 45,730
Orders
Order Backlog
Quarterly orders/order backlog trend of Industrial Division
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 28
Quarterly revenue trend
(Millions of JPY) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Industrial
FY201815,206 18,361 19,770 23,426
overseas 13,247 16,289 17,809 21,203
FY201917,536 18,138 18,610 20,953
overseas 15,595 16,203 16,567 18,535
FY202017,227
overseas 15,012
Precision Equipment
FY20182,516 2,640 2,187 3,339
overseas 604 794 739 1,177
FY20192,518 2,947 1,589 2,177
overseas 896 1,113 662 1,394
FY20201,101
overseas 210
Aerospace
FY20183,792 4,213 3,924 4,980
overseas 3,301 3,648 3,114 4,240
FY20194,168 4,431 4,656 4,698
overseas 3,389 3,704 3,803 3,874
FY20203,664
overseas 2,892
Medical
FY201812,936 15,855 13,943 18,090
overseas 4,148 4,586 4,682 5,335
FY201913,175 15,861 16,681 16,327
overseas 4,193 4,703 4,420 5,255
FY202014,372
overseas 4,849
Company Information
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 30
Consolidated Revenue
Industrial business 63%
Medical business37%
Industrial
45%Medical
37%
Aerospace
11%
FY2019
Precision Equipment
6%0
5,000
10,000
15,000
20,000
25,000
30,000
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019
国内売上 海外売上 営業利益(billion yen)
165.7165.3
140.9
130.0
110.2
129.2
121.5
103.6
90.183.1
78.012.110.3
8.78.1
3.86.1
9.47.46.5
5.35.6
10/3 11/3 12/3 13/3 14/3 15/3 15/12 16/12 17/12 18/12 19/12
JGAPP IFRS
11-Year Summary Revenue by segment
Operating
Profit
Domestic
revenue
Overseas
revenue
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 31
Performance trend of Industrial Business
33,663 43,076
52,393 54,663
69,307
79,239
69,536 75,183
85,406
111,459
103,927
111,000
37,233
42,123
47,490
55,176
68,588
74,960
68,625
75,593
85,228
104,501 103,734 108,000
3,444 2,760 4,662 3,770 5,102 4,375 3,668
5,932 7,539 8,140 10,851 10,200
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
0
20,000
40,000
60,000
80,000
100,000
120,000
2010/03 2011/03 2012/03 2013/03 2014/03 2015/03 2015/12 2016/12 2017/12 2018/12 2019/12 2020/12
Orders Revenue
Operating profit (Left axis) Operating margin (Right axis)
(IFRS)(IFRS)(IFRS)(9months) (forecast)(IFRS)
Acquired the LEWA Group
Acquired Geveke B.V.
Acquired the Cryogenic Industries group
Miyazaki Nikkiso Aerospace factory
Higashimurayama Aerospace factory
Aerospace product expansion
Transferred production from Shizuoka to Kanazawa
(Millions of JPY)
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 32
Performance trend of LEWA
(Millions of €)
132
195 194204
220236 232
200
247270
129148
189
217 217 224 219236 237 242
13 1727 30 31 28 21 28 22
34
0
20
40
60
80
100
120
0
50
100
150
200
250
300
10 11 12 13 14 15 16 17 18 19
Order (Left axis) Revenue (Left axis) EBITDA (Left axis) Crude oil price (Right axis)
($/barrel)
(Source)Crude oil price:The World Bank Group「Commodity Markets Outlook」
36%
41%
23%Oil&Gas
Process industry
Clean market
After service
Revenue Composition ratio
FY2010
34%
36%
6%
24%
FY2015
25%
38%
10%
28%
FY2019
Copyright © 2020 NIKKISO CO., LTD. All rights reserved. 33
Performance trend of Medical Business
(IFRS)(IFRS)(IFRS)
40,786 41,019 42,646
48,493 52,960
54,295
41,592
54,451 55,684
60,824 62,046
66,000
5,226 5,598 5,224 6,962 7,845
5,243 3,041
5,209 3,950 5,582
3,447 5,500
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
2010/03 2011/03 2012/03 2013/03 2014/03 2015/03 2015/12 2016/12 2017/12 2018/12 2019/12 2020/12
Revenue Operating profit (Left axis) Operating margin (Right axis)
(IFRS)
(Millions of JPY)
Full-scale sales of DCS-100NX, a multipurpose dialysis monitoring device (from January 2012)
Sales of DBB-EXA, a dialysis device for personal use (in overseas markets) (from 2015)
Higher demand for online HDF
Consumption tax hike in April 2014 (to 8% from 5%)
Acquired the CRRT business
Transferred production from Shizuoka to Kanazawa
Full-scale sales of DCS-200Si, a multipurpose dialysis monitoring device (from July 2019)
(9months) (forecast)
Copyright © 2020 NIKKISO CO., LTD. All rights reserved.
History
69 71 74 75 83 87 95 01 09 1053 54 56 60 61 67 13 15 1714 1808 19
Industrial Division
Medical Division
Aerospace Division
Company is established for the purpose of import and sales of reciprocating metering pumps.
Develops a water conditioning system for power plants and begins production and sales of systems.
Introduces Japan’s first leak-free canned motor pump technology and begins production and sales of pumps.
Begins import and sales of artificial dialysis machines for the first time in Japan.
Completes Japan’s first hemodialysis machine and begins production and sales of machines.
Begins production and sales of dialyzers for hemodialysis.
Begins production and sales of cascades made of carbon fiber reinforced plastic as components for commercial aircraft.
Begins manufacturing and sales of cryogenic pumps.
Begins production of bloodtubing lines for hemodialysisin Vietnam.
Establishes the Deep UV-LED Business Joint-Venture Company with Formosa Plastic Group.
Completes construction of HigashimurayamaPlant.
Listing on the second section of the Tokyo Stock Exchange.
Listing on the first section of the Tokyo Stock Exchange.
Completes construction of Shizuoka Plant.
Completes construction ofKanazawa Plant.
Acquires the LEWA Group of Germany.
Establishes a joint venture with the China-based Weigao for the manufacture and maintenance of dialysis machine
Acquires Geveke B.V. of the Netherland
Acquires CRRT business of Baxter International Inc.
Acquires Cryogenic pump business of Atlas Copco.
Acquires the Cryogenic Industries Group of U.S.A.
Completes construction ofAerospace factory at theMiyazaki Nikkiso, and Vietnam No.2 factory.
Establishes a Nikkiso Vietnam,Inc.