FY2015FY20152Q Report2Q Report - mes.co.jp · PDF fileFY2015FY20152Q Report2Q Report ......

FY2015FY2015 2Q Report2Q Report(ended on 30(ended on 30thth September 2015)September 2015)(ended on 30(ended on 30thth September 2015)September 2015)

Reported on 6Reported on 6thth November 2015November 2015

1

IndexIndex

Ⅰ FY2015 2Q Financial Highlight0 5 Q a c a g g tⅡ FY2015 Latest Forecast

Progress of Midterm Business Plan 2014Progress of Midterm Business Plan 2014Ⅲ FY2015 2Q Financial Statement(Appendix) Supplemental information

2© 2015 Mitsui Engineering & Shipbuilding Co., Ltd.

2

FY2015 2Q HighlightFY2015 2Q Highlight

New OrdersNew OrdersNew orders decreased due toNew orders decreased due to

（JPY 100 million）

FY142Q

CompareFY152Q New orders decreased due to New orders decreased due to

decrease in new orders of ships in decrease in new orders of ships in subsidiary caused by last minutes subsidiary caused by last minutes orders in prior year, and selective orders in prior year, and selective order in cranesorder in cranes

2Q

Actual Plan Actual

to lastyear

2Q

order in cranes.order in cranes.

Net SalesNet SalesNet sales increased due to good Net sales increased due to good progress of EPC proje t inprogress of EPC proje t in

New Orders 2,552 2,116 436

Net Sales 3,524 3,900 3,810 +286 progress of EPC project in progress of EPC project in Engineering segment.Engineering segment.

Operating IncomeOperating Income

Net Sales 3,524 3,900 3,810 286

87 10 9(2.5%) (0.3%) -

OperatingIncome

96p gp g

Operating income stayed low level Operating income stayed low level due to provision for losses in due to provision for losses in shipbuilding subsidiary and repair shipbuilding subsidiary and repair expenses in MODEC.expenses in MODEC.

( )

91 40 24(2.6%) (1.0%) (0.6%)

43 5 11

OrdinaryIncome

67pp

Net ProfitNet ProfitNet profit decreased due to decrease in Net profit decreased due to decrease in operating income.operating income.

43 5 11(1.2%) (0.1%) -

US$ Rate (year end) 119 96

Net Income 54


US$ Rate (year end) 119.96US$ Rate (Average) 111.80


Breakdown by segmentBreakdown by segment （JPY 100 million）

New Orders Net Sales Oprating IncomeNew Orders Net Sales Oprating IncomeFY142Q

FY152Q

Var.FY142Q

FY152Q

Var.FY142Q

FY152Q

Var.

Ship & Ocean 1,128 807 △321 2,083 2,112 29 45 △90 △135

Machinery 713 544 △169 745 810 65 40 69 29

Engine 21 9 8 21 10 189 △ 2 1Engineering 521 579 58 521 710 189 △13 2 15

Others 190 186 △4 175 178 3 15 10 △5Others 190 186 △4 175 178 3 15 10 △5

Total 2,552 2,116 △436 3,524 3,810 286 87 △9 △96



Decrease in Operating Income of Ship & Ocean segmentDecrease in Operating Income of Ship & Ocean segment●●Additional cost in building ocean support vessels in a shipbuilding subsidiaryAdditional cost in building ocean support vessels in a shipbuilding subsidiary

→→Design changes delay in schedule due to problems and back track workDesign changes delay in schedule due to problems and back track work→→Design changes, delay in schedule due to problems, and back track workDesign changes, delay in schedule due to problems, and back track work→→Provision includes maximum expense. Established structure to support fully by MES as a parent.Provision includes maximum expense. Established structure to support fully by MES as a parent.

●●Repair expense and elimination of unrealized profit of MODEC.Repair expense and elimination of unrealized profit of MODEC.●●Progress of ships received when the market was tough.Progress of ships received when the market was tough.

Loss making project in Engineering segment was completedLoss making project in Engineering segment was completedLoss making project received in tough marketing environment is over Profitable project will beLoss making project received in tough marketing environment is over Profitable project will be

Order backlog to be recorded in sales after 152QOrder backlog to be recorded in sales after 152Q

Loss making project received in tough marketing environment is over. Profitable project will be Loss making project received in tough marketing environment is over. Profitable project will be recorded for a while.recorded for a while.

AreaArea ProjectProjectPetroPetro--chemicalchemical¥¥130 billion130 billion

ExxonMobileExxonMobile（（U.S.A.U.S.A. and Singaporeand Singapore））SASOLSASOL（（U.S.A.U.S.A.））

Infrastructure / PowerInfrastructure / Power¥¥ 160 billion160 billion

CivilCivil engineering for thermal powerengineering for thermal power（（S.E. AsiaS.E. Asia））Biomass powerBiomass power（（U.K.U.K.））

Operation and MaintenanceOperation and Maintenance BiBi （（U KU K ））


Operation and MaintenanceOperation and Maintenance¥¥ 85 billion85 billion BiomassBiomass powerpower（（U.K.U.K. ））

Ship & OceanShip & Ocean Main Main products: New ships, ship repairs, ocean structures products: New ships, ship repairs, ocean structures

New ordersNew orders：：Decrease JPY Decrease JPY --32.1 billion (32.1 billion (vsvs last year)last year)

Certain number of orders are secured by taking advantage of pioneer in fuel efficient ships even though 4,233

2 793

5,3613,600rs


g p p gthe market demand is largely decreasing due to lower freight for bulk carriers.Forecast of new orders is lowered as MODEC’s order is expected to carry over.

1,128 807

2,793,

1st H. 2nd H. YearNew

Ord

e

1st H. 2nd H. Year

Net SalesNet Sales：：Increase JPY +2.9 billion (Increase JPY +2.9 billion (vsvs last year)last year)

N t l i t k d t d i

FY14 FY15

2 727

4,810 4,500

Net sales is on track due to good progress in MODEC’s project and other back log orders.2,083 2,112

2,727 2,388

Net

Sal

es

1st H. 2nd H. Year 1st H. 2nd H. Year

Operating IncomeOperating Income：：Decrease JPY Decrease JPY --13.5 billion (13.5 billion (vsvs last year)last year)

Operating income became far below last year due to

FY14 FY15

8097e p g ylarge provision for ocean support vessels being built in a subsidiary and repair expense and elimination of unrealized profit in MODEC.

45

-90

528097

-10

atin

g In

com

e

1st H. 2nd H. Year

6

FY14 FY15


Ope

ra

1st H. 2nd H. Year

MachineryMachinery Main products: Diesel engines, Main products: Diesel engines, industrial industrial machinery, container cranesmachinery, container cranes

New orders decreased by JPY 16.9 billion as sales activity of container yard crane business was selective due to 1,323 1,256

2,036 1,800

rs（JPY 100 million） New ordersNew orders：：Decrease JPY Decrease JPY --16.9 billion (16.9 billion (vsvs last year)last year)

yconstraint in production capacity as the back log increased by favorable order environment in prior year. Although the order environment of industrial machinery is tough, the order target will be reached as the demand of container yard crane remains to be large and capacity

713 544

,

New

Ord

e

1st H. 2nd H. Year 1st H. 2nd H. Yearcontainer yard crane remains to be large and capacity increase will be achieved. After service market is also favorable.

FY14 FY15

926 990

1,671 1,800

N t S lN t S l I JPY 6 5 billi (I JPY 6 5 billi ( l )l )

Net sales increased due to increase in container yard crane and after service business.

745 810926 990

Net

Sal

es

Net SalesNet Sales：：Increase JPY +6.5 billion (Increase JPY +6.5 billion (vsvs last year)last year)


Operating income exceeded last year because of

FY14 FY15

107 120

e

Operating IncomeOperating Income：：Increase JPY +2.9 billion (Increase JPY +2.9 billion (vsvs last year)last year)

Operating income exceeded last year because of improvement in profitability of marine diesel engine, continuous good condition in container yard crane and after service, and effort of cost reduction.

406967 51

atin

g In

com

e



FY14 FY15

Ope

ra

EngineeringEngineering Main products: Chemical plants, water processing plants, Main products: Chemical plants, water processing plants, foreign civil engineering, construction projects, power plants foreign civil engineering, construction projects, power plants

There was no large project in petrochemical plant.Construction project of wind power was received as

1,303 1,2211,824 1,800

rs（JPY 100 million）

New ordersNew orders：：Increase JPY +5.8 billion (Increase JPY +5.8 billion (vsvs last year)last year)

Construction project of wind power was received as infrastructure / power area.New orders exceeded last year mainly because of new EPC and O&M project of Biomass in U.K. received by BWSC, a subsidiary.

521 579

New

Ord

e


N t l i d d t i i l f BWSC

FY14 FY15

8901,296

1,600Net SalesNet Sales：：Increase JPY +18.9 billion (Increase JPY +18.9 billion (vsvs last year)last year)

Net sales increased due to increase in sales of BWSC and good progress of backlog projects received in 2 years ago.

521 710775 890

Net

Sal

es


Operating income recovered as loss making projects

FY14 FY15

13

238 40

e

Operating IncomeOperating Income：：Increase JPY +1.5 billion (Increase JPY +1.5 billion (vsvs last year)last year)

1st H 2nd H Year Operating income recovered as loss making projects are completed and main sales will now shift to profitable projects received in 2 years ago.

-13

-93 -106FY14 FY15

atin

g In

com

e

1st H. 2nd H. Year

1 H. 2 H. Year


Ope

ra

FY2015 ForecastFY2015 Forecast


FY15 FY15Variance

Original Plan Latest Plan

New Orders 9,100 7,500 1,600

Variance

, , ,

New Sales 8,300 8,300 0

220 180 40(2.7%) (2.2%)

250 220 30

OperatingIncome

Ordinary 250 220 30(3.0%) (2.7%)

130 130 0(1 6%) (1 6%)

Net Income

Ordinaryincome

(1.6%) (1.6%)

Dividend 3 to 4 Yen 4 Yen

et co e


US$ Rate 115.00 115.00

FY2015 Forecast (by segment)FY2015 Forecast (by segment)（JPY 100 million）

New Orders Net Sales Operating IncomegFY15 1st H.（Actual）

FY15 2nd H.（Plan）

Year（Plan）

FY15 1st H.（Actual）


Year（Plan）

FY15 1st H.（Actual）


Year（Plan）

Ship & Ocean 807 2,793 3,600 2,112 2,388 4,500 △90 80 △10

Machinery 544 1,256 1,800 810 990 1,800 69 51 120

Engine 579 1 221 1 800 710 890 1 600 2 38 40Engineering 579 1,221 1,800 710 890 1,600 2 38 40

Others 186 114 300 178 222 400 10 20 30

Total 2,116 5,384 7,500 3,810 4,490 8,300 △9 189 180


The plan is latest plan as of 30 October 2015

Progress of Midterm business plan 2014Progress of Midterm business plan 2014 Midterm business plan 2014announced on 28th June 2013

Basic Policy(1)W llW ll b l d P tf lib l d P tf liWellWell--balanced Portfoliobalanced Portfolio

-- Sustainable Growth and Solid Profit Stability Sustainable Growth and Solid Profit Stability --Susta ab e G o t a d So d o t Stab tySusta ab e G o t a d So d o t Stab ty

cy Key Strategy 1Key Strategy 1 Key Strategy 2Key Strategy 2 Key Strategy 3Key Strategy 3

c po

lic ManufacturingManufacturingbusiness business

i tii ti

Key Strategy 1Key Strategy 1

EngineeringEngineeringbusinessbusiness

ExpansionExpansionof business of business

engagement andengagement and

Key Strategy 2Key Strategy 2 Key Strategy 3Key Strategy 3

Bas

ic innovationinnovation expansionexpansion engagement and engagement and related service related service

businessbusiness


Enhance Business FoundationEnhance Business FoundationB

Progress of Midterm business plan 2014Progress of Midterm business plan 2014 Midterm business plan 2014announced on 28th June 2013

Tough in Short Term, New Business Opportunity Arises

Uncertain global economics, stagnation in emerging countries, financial i i d h i k icrisis and currency exchange risk continue.

Economic growth of emerging countries in Asia continues to lead world economic growth.

Global energy demand increases and shift to natural gas and renewable energy sources accelerated.

Change of industrial structural caused by shale gas revolution.g y g Announcement of Basic Plan on Ocean Policy in Japan. （Apr. 2013） Tough business environment in marine diesel engine continues. Increase of opportunity of orders received in marine resources Increase of opportunity of orders received in marine resources

development, petro-chemical gas, electric power, environmental energy, logistics and crane fields.


Gas businessGas business

Change in LNG marketChange in LNG market・・Excess production of shale oil gasExcess production of shale oil gas →→ LNG price downLNG price downExcess production of shale oil, gas Excess production of shale oil, gas → → LNG price downLNG price down

→ → Increase in shortIncrease in short--range LNG demandrange LNG demand

Forecast of marine gas transportationForecast of marine gas transportationForecast of marine gas transportationForecast of marine gas transportation・・Development of gas market in India, China, and S.E. Asia Development of gas market in India, China, and S.E. Asia → → LNG hub tradeLNG hub trade・・ShortShort--Middle range, nonMiddle range, non--fixed amount, and spot trade fixed amount, and spot trade → → portion ladingportion lading・・Lower LNG price and tighter environment controlLower LNG price and tighter environment control →→ Increase in gas fueled shipIncrease in gas fueled ship・・Lower LNG price and tighter environment control Lower LNG price and tighter environment control → → Increase in gas fueled shipIncrease in gas fueled ship

Future of liquidated gas carrierFuture of liquidated gas carrierD l f l i ill b i tD l f l i ill b i t・・Dual fuel engine will be main streamDual fuel engine will be main stream

・・Ship type will be categorized into threeShip type will be categorized into threeLarge Large Membrane Membrane Tanks for CargoTanks for CargoMiddlMiddl T B(MT B(M ) T k f C) T k f CMiddle Middle Type B(MossType B(Moss) Tanks for Cargo) Tanks for CargoSmall Small Type CType C Tanks for CargoTanks for Cargo

Small「Type C」 Image


⇒⇒ New line up in neoNew line up in neo series, Middle type series, Middle type 「「neo82GCneo82GC」」

MEME--GI &GI & FGSSFGSS

Domestically first MEDomestically first ME--GI engine completedGI engine completedD l f l i f LNG hi “MAND l f l i f LNG hi “MAN B&WB&W 8S70ME8S70ME C8 2C8 2 GI”GI”Dual fuel engine for LNG ship “MAN Dual fuel engine for LNG ship “MAN B&W B&W 8S70ME8S70ME--C8.2C8.2--GI”GI”

LineLine--up of Dual fuel engineup of Dual fuel engineMEME--GI(LNG/Heavy oil)GI(LNG/Heavy oil)MEME GI(LNG/Heavy oil)GI(LNG/Heavy oil)MEME--GIGI--Ethane(Ethane/Heavy oil)Ethane(Ethane/Heavy oil)MEME--LGI(Methanol, ethanol, LPG, LGI(Methanol, ethanol, LPG, DimenthylDimenthyl Ether/Heavy oil)Ether/Heavy oil)

Achieved natural gas supply using FGSSAchieved natural gas supply using FGSS* * compressorcompressorAchieve onAchieve on--land commissioning by combining MEland commissioning by combining ME--GI and FGSS compressorGI and FGSS compressorMES is the only company to enable trial combining MEMES is the only company to enable trial combining ME--GI and FGSS before loadingGI and FGSS before loadingMES is the only company to enable trial combining MEMES is the only company to enable trial combining ME GI and FGSS before loadingGI and FGSS before loading


FGSS：Fuel Gas Supply System

Acquired TGE MarineAcquired TGE Marine

Business of TGEBusiness of TGE MarineMarine・・Engineering company for Gas ship in Bonn, GermanyEngineering company for Gas ship in Bonn, Germany

P idi EPCSP idi EPCS(E i i P C i S i i ) f(E i i P C i S i i ) f・・Providing EPCSProviding EPCS(Engineering, Procurement, Construction Supervision) for (Engineering, Procurement, Construction Supervision) for small size gas carrier using Typesmall size gas carrier using Type C tank and gas handling systemC tank and gas handling system→ → Global share of 50% in small ethylene carrier and 30% in LPGGlobal share of 50% in small ethylene carrier and 30% in LPG

G hi i E d hi b ild i Chi d K t bG hi i E d hi b ild i Chi d K t bPurpose of acquisitionPurpose of acquisition・・MESMES：：Global market for middle to small size gas carrier and FSRU. Sales base Global market for middle to small size gas carrier and FSRU. Sales base

・・Gas ship owner in Europe and shipbuilder in China and Korea as customer base Gas ship owner in Europe and shipbuilder in China and Korea as customer base

ggfor FGSS equipmentfor FGSS equipment・・TGETGE：：Enter into Japanese market and enlargement of business area. Enter into Japanese market and enlargement of business area. Enhancement of quality control for procurement.Enhancement of quality control for procurement.

Commercial ship

TGETGE

Balanced PortfolioBalanced PortfolioMarine/Gas/

Engineering Area

GasEngineering

Business portfolio（Image）

FuelEfficient

ship

OceanDevelopment

NEONEO serieseseriese

NOAHNOAHNEO(GAS)NEO(GAS)

pBalanced PortfolioBalanced Portfolio Engineering Area

SmallLNG/LPG


•FSRU：Floating Storage and Re-gasification Unit

Normal ships Project ships

NOAHNOAHNEO(GAS)NEO(GAS)

Progress of Midterm business plan 2014Progress of Midterm business plan 2014

【【Key strategy 1Key strategy 1】】 Manufacturing business innovationManufacturing business innovationRestructuring of domestic deve-lopment and production system

Development global business structure

Development and expansion of key components business

FPSO construction, ME-GI, LGI orders, Increase of crane capacity, neo82GC(new line-up)、FPSO(NOAH) development

JV for process machinery, Overseas block production in cranes, Sales office for cranes in Singapore

FGSS for ME-GI、Lower fuel by THS, Kaji tech (Hydrogenestation)、Lobo-tics business

【【Key Strategy 2Key Strategy 2】】 Engineering business expansionEngineering business expansionEnhance and expand competitiveness

in chemical, power and marine resources development EPC fields

Expand environmental energy EPC field

Enhance group internal partnerships and global operations structurep p

Cooperation with MODEC for TOSIDE, FSO in North sea, Thermal power civil engineering

Biomass power plant, Wind power plant, Hybrid plant of biogas power and animal feed

People exchange within group, Joint project with subsidiary in EPC project

【【K S 3K S 3】】 E i f b i d l d i b iE i f b i d l d i b i【【Key Strategy 3Key Strategy 3】】 Expansion of business engagement and related service businessExpansion of business engagement and related service businessEnhance related services that revolve around our

manufacturing businessEnhance upstream and downstream services that

center on EPC

New techno service base in Turkey and QatarNew techno-service base in Turkey and Qatar, Comprehensive contract for new crane and maintenance, Bid for terminal business for port, Joint operation of ship repair with KHI, AZUMA ENGINEERING (Overseas repair base) Acquired

Start of biogass power generation in BetsukaiHokkaido, Solar power plant business (6 projects)、After service order for petro chemical plant in


ENGINEERING (Overseas repair base)、Acquired TGE-Marine（Middle to small gas carrier and FGSS）

p pSingapore

FY15 2Q Consolidated PLFY15 2Q Consolidated PL

FY14 2Q FY15 2Q Var.

3 524 3 810 286Net Sales


3,524 3,810 286

304 222 (82)

SG&A 218 231 13

Gross Profit

Net Sales

87 (9) (96)

2.5% (0.2%) (2.6%)

Other Income 46 70 24

Operating Income

Other Income 46 70 24

Other Expenses 41 37 (4)

91 24 (67)Ordinary Income

Extraordinary Income 2 14 12

Extraordinary Losses 34 22 (12)

59 16 (43)Profit before taxes

Income Taxes 31 44 13

Non-controlling interest (15) (18) (3)

43 (11) (54)Profit attributable to owners of parent

17

43 (11) (54)Profit attributable to owners of parent

© 2015 Mitsui Engineering & Shipbuilding Co., Ltd.

FY15 2Q Consolidated BSFY15 2Q Consolidated BS

FY14 FY15 2Q Var. FY14 FY15 2Q Var.


Cash 854 940 86 Payables 2,477 2,441 (36)

Receivables 3 110 2 858 (252) Advances from customers 772 962 190Receivables 3,110 2,858 (252) Advances from customers 772 962 190

Work in Progress 282 381 99 Provision for losses 171 112 (59)

Other Current Assets 1,180 1,206 26 Interest bearing debt 1,883 2,270 387

Fixed Assets 3,894 3,916 22 Others 1,970 1,713 (257)

Investment, other 1,426 1,645 219 Net Assets 3,473 3,448 (25)

T t l A t 10 746 10 946 200Total liabilities and

10 746 10 946 200Total Asset 10,746 10,946 200net assets

10,746 10,946 200

© 2015 Mitsui Engineering & Shipbuilding Co., Ltd. 18

Consolidated Cash FlowConsolidated Cash Flow

FY14 2QActual

FY15 2QActual

FY12Actual

FY13Actual

FY14Actual

FY15Plan


Operating CF (139) 228

Investing

472 145 152 180Investing

CF (321) (630)

Free CF (460) (402)

(121) (373) (324) (630)

351 (228) (172) (450)Free CF (460) (402)Financing

CF 243 363

351 (228) (172) (450)

(48) 155 (44) 430

Interest bearing debt 2,088 2,270

DE R i 1 0 1 0

1,483 1,878 1,883 2,350

0 8 0 9 0 8 1 0DE Ratio 1.0 1.0

ROE

0.8 0.9 0.8 1.0

(4.6%) 21.6% 4.1%


Interest bearing debt = Loans and bonds

Appendix: Segment breakdownAppendix: Segment breakdown（JPY 100 million）

FY14 2Q FY15 2Q FY15 PlanShip & Ocean 1,128 807 3,600Machinery 713 544 1 800de

rs

Machinery 713 544 1,800Engineering 521 579 1,800Other 190 186 300N

ew O

rd

Total 2,552 2,116 7,500

Ship & Ocean 2,083 2,112 4,500

es Machinery 745 810 1,800Engineering 521 710 1,600Other 175 178 400

Net

Sal

e

Total 3,524 3,810 8,300

Ship & Ocean 9,626 10,457

ers

Machinery 1,249 1,385Engineering 3,288 3,827Other 88 75ck

log

Ord

e

© 2015 Mitsui Engineering & Shipbuilding Co., Ltd. 20

Other 88 75Total 14,251 15,744

Bac

Appendix: Major subsidiary, Appendix: Major subsidiary, capexcapex, employees, employees（JPY 100 million）

FY14 2Q FY14 FY15 2Q FY15 PlanOrders Sales Orders Sales Orders Sales Orders Sales

sidi

ary

MODEC 356 1,620 3,958 3,785 297 1,568 － 3,000BWSC 33 167 733 354 249 187 － 520

Sh Ai 111 241 112 240Maj

or S

ubs

Showa Air 111 241 112 240

Consolidated FY14 2Q FY14 FY15 2Q FY15 Plan

M


FY14 2Q FY14 FY15 2Q FY15 PlanCapex. 75 166 118 350

Depreciation 83 175 86 －

Cap

ex.

R&D 17 49 17 68

Cs

Consolidated FY14 2Q FY14 FY15 2QEmployees 12,365 12,291 12,668

Em

ploy

ees


E

AppendixAppendix：：Main productsMain products and customer (Ship & Ocean)and customer (Ship & Ocean)

ShipbuildingProducts: commercial and naval ships, working ships, fishing vesselsC t d ti d hi hi i iCustomer: domestic and overseas ship owner, shipping companies,

Ministry of Defense, Japan Coast Guard

Offshore structureP d t FPSO/FSO (Fl ti P d ti St d Offl di )Products: FPSO/FSO (Floating Production, Storage, and Offloading)Customer: oil resource development companies

Repair and othersProducts: Repair and retrofit marine related equipments underwater vehicles

（ships）FY2015 2Q Breakdown of shipsFY2015 2Q Breakdown of ships

Products: Repair and retrofit, marine related equipments, underwater vehiclesCustomer: shipping companies, Ministry of Defense, Japan Coast Guard,

public institutions

（ships）

Types New orders Delivery Backlog

Commercial ships（ i ）

8

FY2015 2Q Breakdown of shipsFY2015 2Q Breakdown of ships

（neo series）

5 43FPSO Hull

Others

22

Others

Total 5 8 4322

© 2015 Mitsui Engineering & Shipbuilding Co., Ltd.

AppendixAppendix：：Main productsMain products and customer (Machinery)and customer (Machinery)

Diesel engineProducts: marine diesel enginesCustomer: mainly domestic shipbuilders

Industrial machineryProducts: compressors, blowers, gas and steam turbine, process unit,

induction heaters, radar inspection equipment, manipulatorCustomer: oil refineries petro chemical plant steel paper power auto companiesCustomer: oil refineries, petro-chemical plant, steel , paper, power, auto companiesTechno serviceProducts: service parts and maintenance for diesel engine, machinery, and cranesCustomer: shipping oil steel companies container terminal operatorsCustomer: shipping, oil, steel companies, container terminal operators

Cranes for container terminalProducts: Portainer, Transtainer, industrial cranes, CTMS(management system)Customer: container terminal operators steel companiesCustomer: container terminal operators, steel companiesOthersProducts: marine and land generating equipments , forging, castingCustomer: construction machinery makers train IT machinery industriesCustomer: construction machinery makers, train, IT, machinery industries


Appendix: Details of Diesel enginesAppendix: Details of Diesel engines

FY2014 FY2015 2Q

UnitHorse Power Unit

Horse Power

Jan. to Dec. 2014Marine Diesel Engines

domestic shareUnit Power

(10k)Unit Power

(10k)

New 176 322 28 49Orders *(12) *(31)

Deliveries 166 328 73 138MES

Back log149

*(12)284

*(31)104 196 *Makita

Production 181 354 87 158 Source: KP data (2 stroke engine)

Makita is sub-licensee of MES

*fi i b k t ( ) t f l i (GI d LGI) i l i


*figures in bracket ( ) represent gas fuel engines (GI and LGI) inclusive

AppendixAppendix：：Main productsMain products and customer (Engineering)and customer (Engineering)

Chemical PlantProducts: EPC for chemical plant such as plastic, synthetics fiber, rubberCustomer:domestic and overseas major chemical companies, petroleum companiescompanies

Infrastructures and powerProducts: civil engineering for coal fired power plant, EPC and O&M for biomass,

renewable energy plant sludge treatment plantrenewable energy plant, sludge treatment plantCustomer:major trading house, power producer, local governments

BWSC (Burmeister & Wain Scandinavian Contractor A/S)Products: EPC and O&M for diesel and biomass power plantProducts: EPC and O&M for diesel and biomass power plantCustomer: major utility companies, IPP(Independent Power Producer)

BreakdownBreakdown (JPY 100 illi )(JPY 100 illi )

FY14 2Q FY15 2Q

New Orders Net Sales New Orders Net Sales

BreakdownBreakdown (JPY 100 million)(JPY 100 million)

Chemical Plant 153 193 88 310

Infrastructures and power 368 328 491 400

25Total 521 521 579 710


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