Factbook : Fiscal Year ended December 31, 2022（741KB）

Factbook

Fiscal Year ended December 31, 2022 [January 1 to December 31, 2022]

Actuating Your Dreams

Contents

【 Consolidated Data 】
Sales & Profit ---------------------------------------------------------------------------------------------	2
Assets, Liabilities, Net Assets and Cash Flows ---------------------------------------------------	3
Cash Dividend per Share ------------------------------------------------------------------------------	3
Capital Expenditures and R&D Expenses ----------------------------------------------------------	4
Number of Employees ---------------------------------------------------------------------------------	4
Motor Sales / Motor Sales Quantity --------------------------------------------------------------	5,6
Manufacturing Quantity of Motor -------------------------------------------------------------------	6
Stock Information ---------------------------------------------------------------------------------------	7
Consolidated Subsidiaries -----------------------------------------------------------------------------	8
Corporate Profile ----------------------------------------------------------------------------------------	8

Factbook Q4 2022

1

Sales & Profit

						Net Sales										■ Gross Profit	-◆- Gross Profit Ratio
（Millions of yen）										（Millions of yen）
									42,657	42,137	20,000														32%
											26.0%
																	26.1%
40,000							36,731																25.2%
			33,259		35,179								15,000								23.9%							24%
30,000																	20.4%
														9,151		10,181		10,628
													10,000			8,684									16%
20,000													5,000					7,501									8%
10,000
0														0															0%
		'21.Q4	'22.Q1		'22.Q2	'22.Q3	'22.Q4
								'21.Q4	'22.Q1		'22.Q2		'22.Q3			'22.Q4

• Operating Income -◆- Operating Income Ratio

（Millions of yen）					8.4%
8.1%					8.1%
	7.7%
8,000														8%
6,000														6%
					3.1%
							3,590
4,000								3,396		4%
	2,682	2,704
2,000														2%
					1,132
0														0%
	'21.Q4		'22.Q1	'22.Q2		'22.Q3		'22.Q4

Profit attributable to owners of parent

（Millions of yen）				5,817
6,000
		5,367
4,000
	3,286	3,058
2,000

52

0

'21.Q4

'22.Q1

'22.Q2

'22.Q3

'22.Q4

• Ordinary Income -◆- Ordinary Income Ratio

（Millions of yen）			20.5%
20,000
				18.0%				20%
15,000				14.0%
									15%
	12.1%
10,000										10%
			7,522	7,666
			4,037	4,924			3.2%
5,000						5%
						1,359
0											0%
		'21.Q4	'22.Q1	'22.Q2	'22.Q3	'22.Q4

				Profit per Share
（Yen）
100
				90.00
		83.06
75
50.15	46.97
50
25
				0.81
0
	'21.Q4	'22.Q1	'22.Q2	'22.Q3	'22.Q4

Unit : Millions of yen (YOY)

Fiscal Term	2021.Q4	2022.Q1	2022.Q2	2022.Q3	2 0 2 2 .Q 4	2022 Full Year	2023 Projection
		%		%		%		%		%		%		%
Net Sales	33,259		-5.5	35,179		-0.8	36,731		8.5	42,657		33.1	42,137	26.7	156,706	16.4	173,000	10.4
Gross Profit	8,684		-25.6	9,151		-13.1	7,501		-15.8	10,181		22.8	10,628		22.4	37,462		2.9	45,300		20.9
Operating Income	2,682		-58.3	2,704		-48.4	1,132		-66.7	3,590		45.4	3,396		26.6	10,824		-21.6	15,000		38.6
Ordinary Income	4,037		-40.9	4,924		-32.7	7,522		69.3	7,666		103.3	1,359		-66.3	21,473		9.7	16,800		-21.8
Profit attributable to owners of parent	3,286		-31.9	3,058		-46.9	5,367		96.0	5,817		136.1	52		-98.4	14,295		0.3	11,900		-16.8
Profit per Share (Yen)	50.15		-31.5	46.97		-46.3	83.06		99.6	90.00		140.3	0.81		-98.4	220.79		1.9	184.12		-16.6
Gross Profit Ratio ( % )	26.1			26.0			20.4			23.9			25.2			23.9			26.2
Operating Income Ratio ( % )	8.1			7.7			3.1			8.4			8.1			6.9			8.7
Ordinary Income Ratio ( % )	12.1			14.0			20.5			18.0			3.2			13.7			9.7
ROIC ( % )	-			-			-			-			-			4.1			-
ROE ( % )	-			-			-			-			-			5.3			-
ROA ( % )	-			-			-			-			-			7.2			-

Figures for ROIC, ROE and ROA are for annual results only.

ROIC = (Operating profit × (1 - Effective tax rate)) / (Accounts receivable-trade + Inventories + Non-Current assets (excluding Investment securities) - Accounts payable-trade)

2	Factbook Q4 2022

Assets, Liabilities, Net Assets and Cash Flows

Inventories

（Millions of yen）

																					61,394
60,000
																	50,920
40,000						35,708
						33,880
				32,519
20,000
0
					'18.12		'19.12			'20.12		'21.12				'22.12
									■ Net Assets		-◆- Equity Ratio
（Millions of yen）
400,000							91.1%				91.4%				91.0%			90.9%				91.0%			100%
300,000																					280,175		75%
																259,909
				244,454	245,172		239,103
200,000											50%
100,000																									25%
0																										0%
					'18.12		'19.12			'20.12		'21.12				'22.12

• Cash Flows from Operating Activities ■ Cash Flows from Investing Activities

-◆- Free Cash Flows

■ Cash Flows from Financing Activities

（Millions of yen）

30,000

25,830

20,979

20,000					18,741
				13,437
										10,206
10,000								8,743
			10,584
8,244
0												-261
						-4,226
				-5,304
-10,000										-10,468	-10,088
	-11,069	-12,132		-10,952		-11,285
-12,735			-12,970
-15,246
-20,000
2018	2019	2020	2021	2022

Unit : Millions of yen (YOY)

As of	2018.12.31	2019.12.31		2020.12.31		2021.12.31		2 0 2 2 .1 2 .3 1
			%				%				%				%				%
Inventories	35,708		8.2	33,880			-5.1	32,519			-4.0	50,920			56.6	61,394			20.6
Current Assets	181,473		-3.0	173,510			-4.4	173,394			-0.1	185,577			7.0	200,554			8.1
Current Liabilities	18,518		-11.0	17,121			-7.5	18,193			6.3	21,136			16.2	21,442			1.4
Current Ratio ( % )	980			1,013				953				878				935
Net Assets	244,454		0.9	245,172			0.3	239,103			-2.5	259,909			8.7	280,175			7.8
Total Assets	268,246		-0.4	268,244			-0.0	262,559			-2.1	285,704			8.8	307,786			7.7
Book Value per Share ( Yen )	3,640.08		1.7	3,690.86			1.4	3,623.63			-1.8	3,975.34			9.7	4,333.76			9.0
Equity Ratio ( % )	91.1			91.4				91.0				90.9				91.0
Cash & Cash Equivalents	113,560		-4.5	110,863			-2.4	110,190			-0.6	103,539			-6.0	101,255			-2.2
																Unit : Millions of yen
Fiscal Term	2018		2019		2020		2021		2 0 2 2
Cash Flows from Operating Activities	20,979	25,830		18,741		8,743		10,206
Cash Flows from Investing Activities	-12,735	-15,246		-5,304		-12,970		-10,468
Free Cash Flows	8,244	10,584		13,437		-4,226		-261
Cash Flows from Financing Activities	-11,069	-12,132		-10,952		-11,285		-10,088

Cash Dividend per Share

（Yen）			■ Interim	■ Year-end										Unit ： Yen
160													Fiscal Term	2020	2021	2 0 2 2	2023
			135.0		1 3 5.0			135.0					Forecast
120				115.0									Interim	67.0	57.0	67.0	67.0
	68.0			68.0		68.0
								Year-end	68.0	58.0	68.0	68.0
				58.0								Cash Dividend
80
											per Share	Annual	135.0	115.0	135.0	135.0
40
												(Special Dividend)	(105.0)	(85.0)	(105.0)	(105.0)
67.0	57.0		67.0		67.0
												Payout Ratio ( % ) (Consolidated)	99.5	53.1	61.1	73.3
0
		2020	2021		2022		2023
								Forecast

Factbook Q4 2022

3

Capital Expenditures and R&D Expenses

Capital Expenditures

（Millions of yen） 30,000

20,000			17,915
16,332
												15,091
									10,614
							9,622
10,000					7,736
0
	'18.12	'19.12		'20.12	'21.12	'22.12	'23.12

Projection

Depreciation and Amortization

（Millions of yen）
15,000
				11,634	12,440
10,000		8,648	9,666
8,264
7,652
5,000
0
'18.12	'19.12	'20.12	'21.12	'22.12	'23.12
					Projection

						■ R & D Expenses		-◆- R & D Expenses / Net sales												R & D Personnel
（Millions of yen）																								（Number of Employees）
12,500																												5%			600
																																											537
																																	479	481	482	500
																									3.9%
										3.8%				3.8%																	459
														3.5%		3.6%
10,000					3.5%												4%
																																	400
7,500																								6,671		3%
																5,574
5,000				4,939			4,958			4,453	4,711							2%			200
2,500																												1%
																													0
0																												0%
			'18.12			'19.12			'20.12	'21.12	'22.12	'23.12						'18.12	'19.12	'20.12	'21.12	'22.12		'23.12
																							Projection																	Projection
																																												Unit : Millions of yen (YOY)
														Fiscal Term		2018.12					2019.12	2020.12	2021.12	2 0 2 2 .1 2		2023.12Projection
																							%								%						%		%		%							%
	Capital Expenditures										16,332			27.2		17,915	9.7	7,736			-56.8	9,622	24.4	10,614	10.3		15,091			42.2
	Depreciation and Amortization						7,652			7.1				8,264	8.0	8,648			4.6	9,666	11.8	11,634	20.4		12,440			6.9
	R & D Expenses										4,939			-5.6				4,958	0.4	4,453			-10.2	4,711	5.8	5,574	18.3		6,671			19.7
						R & D Expenses / Net Sales ( % )		3.5								3.8			3.8				3.5			3.6					3.9
		R & D Personnel (Number of Employees)		459			6.3				479	4.4	481			0.4	482	0.2	500	3.7		537			7.4

Number of Employees

(C o n so l i dat e d)Unit ： Number of Employees (Ratio) (YOY)

As of	2018.12.31		2019.12.31		2020.12.31		2021.12.31		2 0 2 2 .1 2 .3 1
		%			%		%			%		%			%		%			%		%			%
Production Division	21,887	93.2			-2.2	20,394	92.4			-6.8	19,849	92.4			-2.7	19,273	92.2			-2.9	18,614	91.9			-3.4
Sales Division	249	1.1			4.6	256	1.2			2.8	253	1.2			-1.2	247	1.2			-2.4	259	1.3			4.9
R & D Division	593	2.5			4.0	616	2.8			3.9	602	2.8			-2.3	596	2.9			-1.0	615	3.0			3.2
Administrative Division	747	3.2			-1.5	795	3.6			6.4	773	3.6			-2.8	778	3.7			0.6	760	3.8			-2.3
Total	23,476	100.0			-1.9	22,061	100.0			-6.0	21,477	100.0			-2.6	20,894	100.0			-2.7	20,248	100.0			-3.1
(No n - C o n so lidat e d)
As of	2018.12.31		2019.12.31		2020.12.31		2021.12.31		2 0 2 2 .1 2 .3 1
						%						%						%						%						%
Total	824					2.2	849					3.0	851					0.2	836					-1.8	827					-1.1

4	Factbook Q4 2022

Motor Sales by Application / Motor Sales Quantity by Application

								■ Automotive Products				■ Life & Industrial Products
（Millions of yen）
																				42,657		42,131
40,000
												36,730
33,237			35,175
30,000
20,000
10,000
		0
			'21.Q4			'22.Q1						'22.Q2				'22.Q3		'22.Q4
Motor Sal es																																Unit : Millions of yen (Ratio) (YOY)
Fiscal Term		2021.Q4			2022.Q1						2022.Q2					2022.Q3						2 0 2 2 .Q 4
					%	%		%		%			%	%				%	%		%	%
Automotive Products		23,988	72.2	-9.3	25,804	73.4		-3.4	26,696	72.7	8.1		32,142	75.3	40.7	32,413	76.9	35.1
Life & Industrial Products		9,249	27.8	5.9	9,371	26.6		7.6	10,033	27.3	9.6		10,515	24.7	14.5	9,718	23.1	5.1
Total Sales		33,237	100.0	-5.5	35,175	100.0		-0.7	36,730	100.0	8.5		42,657	100.0	33.2	42,131	100.0	26.8
Motor Sal es Quanti ty																																		Unit : In Millions (Ratio) (YOY)
Automotive Products		222	69.5	-17.0	237	72.0		-9.2	221	70.5	-6.8		248	73.1	15.5	245	76.0	10.5
Life & Industrial Products		97	30.5	-8.2	92	28.0		-10.1	92	29.5	-12.2		91	26.9	-12.7	77	24.0	-20.7
Total Sales		319	100.0	-14.5	329	100.0		-9.4	313	100.0	-8.5		340	100.0	6.3	322	100.0	0.9
A verag e Sal es Pri ce																																					Unit : Yen
Fiscal Term		2021.Q4			2022.Q1						2022.Q2					2022.Q3						2 0 2 2 .Q 4
Automotive Products				108.05				108.68								120.72						129.11							132.18
Life & Industrial Products				94.71				101.66								108.18						114.86							125.51
Total Sales				103.98				106.72								117.02						125.28							130.58
A verag e Ex chang e R ate																																					Unit : Yen
US$ :				113.71				116.20								129.57						138.37							141.59
																																	Unit : Millions of yen (Ratio) (YOY)
						Fiscal Term						2022 Full Year												2023 Projection
																		%			%													%			%
			Automotive Products		117,056						74.7			19.1				130,414						75.4			11.4
Motor Sales		Life & Industrial Products		39,639						25.3			9.2				42,585						24.6			7.4
				Total Sales				156,696						100.0			16.5				173,000						100.0			10.4
																																			Unit : In Millions (Ratio) (YOY)
			Automotive Products		952						72.9			1.8				1,003						74.3			5.3
Motor Sales Quantity		Life & Industrial Products		353						27.1	-13.8				346						25.7			-2.1
				Total Sales				1,306						100.0			-3.0				1,350						100.0			3.3
																																						Unit : Yen
						Fiscal Term						2022 Full Year												2023 Projection
			Automotive Products						122.86												129.94
Average Sales Price		Life & Industrial Products						112.00												122.95
				Total Sales								119.92												128.15
Average Exchange Rate				US$ :								131.43												135.00

Factbook Q4 2022

5