(TRANSLATION)
This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
Consolidated Quarterly Financial Results
(based on Japanese standards)
For the three months ended June 30, 2023
July 28, 2023 | ||
Company name: FANUC CORPORATION | Stock exchange listing: Tokyo Stock Exchange | |
Stock code: | 6954 | URL: https://www.fanuc.co.jp/eindex.html |
Representative: (Title) President | (Name) Kenji Yamaguchi | |
Contact: | (Title) Manager, Public Relations & Shareholders Relations Department | |
(Name) Naoki Yukisada TEL: (0555)84-5555 |
Scheduled date of filing quarterly report: August 9, 2023
Scheduled date of commencing of dividend payments: -
Availability of supplementary briefing material on quarterly financial results: Available
Schedule of quarterly financial results briefing session: Scheduled
1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 - June 30, 2023)
(1) Consolidated Results of Operations (cumulative)
(% represents changes from the previous corresponding three-month period.) | |||||||||
Three months | Net income | ||||||||
Net sales | Operating income | Ordinary income | attributable to owners | ||||||
ended June 30 | |||||||||
of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
2023 | 201,771 | (4.6) | 32,594 | (34.5) | 41,675 | (30.0) | 30,324 | (28.0) | |
2022 | 211,563 | 14.2 | 49,757 | (4.4) | 59,538 | 2.7 | 42,122 | 4.5 | |
Note: Consolidated comprehensive income: | April-June 2023: | ¥72,004 million (15.0)% | |||||||
April-June 2022: | ¥84,743 million 76.8% | ||||||||
Three months | Net income | Net income | |||||||
per share | |||||||||
ended June 30 | per share | ||||||||
(diluted) | |||||||||
Yen | Yen | ||||||||
2023 | 31.82 | - | |||||||
2022 | 44.00 | - |
Note: On April 1, 2023, the Company performed a 1-to-5 stock split of common share. "Net income per share" was calculated assuming that the stock split was performed at the beginning of the previous fiscal year.
(2) Consolidated Financial Position | ||||||
Total assets | Net assets | Equity ratio | ||||
Millions of yen | Millions of yen | % | ||||
June 30, 2023 | 1,868,123 | 1,640,675 | 87.2 | |||
March 31, 2023 | 1,873,536 | 1,627,555 | 86.2 | |||
(Reference) Equity: June 30, 2023: ¥1,629,393 million | March 31, 2023: ¥1,615,376 million | |||||
2. Dividends | ||||||
Dividends per share | ||||||
1st Quarter | 2nd Quarter | 3rd Quarter | Fiscal year-end | Full year | ||
Yen | Yen | Yen | Yen | Yen | ||
FY2022 | - | 264.02 | - | 271.64 | 535.66 | |
FY2023 | - | |||||
FY2023 | - | - | - | - | ||
(forecast) | ||||||
Note: We have not changed the forecasts of dividends from the latest ones.
Note: On April 1, 2023, the Company performed a 1-to-5 stock split of common share. Figures for FY2022 are the actual amount of dividends before the stock split.
Note: The 2nd quarter-end and year-end dividends for FY2023, will be disclosed promptly upon their availability.
3. Consolidated Financial Forecasts for FY 2023 (April 1, 2023 - March 31, 2024)
(% for the 2Q cumulative period and for the full year represents changes from the same quarter of the previous fiscal year and changes from the previous fiscal year respectively.)
Net income
Net sales Operating income Ordinary income attributable to owners of parent
2nd Quarter | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % |
(Cumulative) | 384,600 | (7.6) | 62,500 | (34.0) | 81,400 | (29.6) | 60,800 | (27.8) |
Full year | 750,300 | (11.9) | 118,300 | (38.2) | 150,300 | (35.0) | 113,100 | (33.7) |
Note: We have changed the forecasts of financial results from the latest ones.
*Notes
- Changes in Significant Subsidiaries during the three months ended June 30, 2023 (changes in specific subsidiaries that caused change in scope of consolidation) : No
- Adoption of Simplified and Specifically Applied Accounting Method for Quarterly
Consolidated Financial Reporting | : No |
Net income
per share
Yen
63.80
118.69
- Changes in Accounting Principles and Accounting Estimates, and Revisions/Restatements
1. Changes in accounting principles associated with changes in | : | No | |
accounting standards | |||
2. | Changes in accounting principles other than 1 | : | Yes |
3. | Changes in accounting estimates | : | No |
4. | Revisions/Restatements | : | No |
Note: For details, please see "3. Other Information (3) Changes in Accounting Principles and Accounting Estimates, and Revisions/Restatements" on page 9 of the Accompanying Documents.
- Number of shares outstanding (Common shares)
1. Number of shares outstanding at the end of the period (including treasury stocks)
June 30, 2023 | 1,003,073,989 | March 31, 2023 | 1,009,546,985 |
shares | shares |
2. Number of treasury stocks at the end of the period
June 30, 2023 | 50,155,241 | March 31, 2023 | 56,626,695 |
shares | shares |
3. Average number of shares during the period
April-June 2023 | 952,918,966 | April-June 2022 | 957,338,500 |
shares | shares |
Note: On April 1, 2023, the Company performed a 1-to-5 stock split of common stock. "Number of shares outstanding at the end of the period," "Number of treasury stocks at the end of the period" and "Average number of shares during the period" were calculated assuming that the stock split was performed at the beginning of the previous fiscal year.
- The report of the quarterly financial results is not subject to audit by certified public accountant or audit firm.
-
Notes on appropriate use of the financial forecasts, other notes.
Any forward looking statements such as financial forecasts described in this report are subject to uncertain factors such as product supply and demand trends, industry competition, economic conditions, and others in major markets. Actual results may differ from these forecasts. For the details of the financial forecasts, please see "Financial Results Forecasts" on page 4 of the Accompanying Documents. The forecasts of the 2nd quarter-end and the year-end dividends for FY2023, will be disclosed promptly upon their availability.
Table of Contents of Accompanying Documents
1. Results of Operations and Financial Position | 2 | |
(1) | Results of Operations | 2 |
(2) | Financial Position | 3 |
(3) | Financial Results Forecasts | 4 |
2. Consolidated Quarterly Financial Statements | 5 | |
(1) | Consolidated Quarterly Balance Sheet | 5 |
(2) | Consolidated Quarterly Statement of Income and | |
Consolidated Quarterly Statement of Comprehensive Income | 7 | |
Consolidated Quarterly Statement of Income | 7 | |
Consolidated Quarterly Statement of Comprehensive Income | 8 | |
3. Other Information | 9 | |
(1) | Changes in Significant Subsidiaries during the three months | |
ended June 30, 2023 | 9 | |
(2) | Adoption of Simplified and Specifically Applied Accounting | |
Method for Quarterly Consolidated Financial Reporting | 9 | |
(3) | Changes in Accounting Principles and Accounting Estimates, and | |
Revisions/Restatements | 9 | |
(4) | Note on Premise of a Going Concern | 9 |
(5) | Note on the Substantial Change in Shareholders' Equity | 9 |
1
1. Results of Operations and Financial Position
(1) Overview of Results of Operations
Regarding the circumstances surrounding the FANUC Group during the first three-month period of the fiscal year ending March 31, 2024 (from April 1 to June 30, 2023), while the impact on production activities by shortage in semiconductors and other components in the supply chain that had continued until now has subsided, the outlook remained uncertain due to several factors, such as the effects of progressing global inflation, concerns of an economic slowdown, and fluctuations in exchange rates. In addition, inventory adjustments from the second half of FY 2022 (the fiscal year ended March 31, 2023) had an impact on production. Amidst these difficult conditions, the Company has done every effort to minimize the impact on the financial results through the concerted efforts of all departments, including sales divisions, R&D divisions, factories, service divisions, and administrative departments.
During the three months from April to June 2023, FANUC posted consolidated net sales totaling ¥201,771 million, down 4.6%, consolidated ordinary income totaling ¥41,675 million, down 30.0%, and net income attributable to owners of parent totaling ¥30,324 million, down 28.0%, compared with the corresponding period of the previous fiscal year.
An overview of the results for each business division is as follows:
In the FA Division, demand from the machine tool industry, the primary market for CNC systems, showed a slowdown trend in each country around the world, including Japan, except the Indian market, where demand was firm, and sales of our CNC systems also declined. Net sales in the FA Division amounted to ¥49,653 million, down 24.3% compared with the corresponding period of the previous fiscal year.
In the Robot Division, sales increased due to strong demand in China for EV industry and general industries, mainly for renewable energy-related industries. In the U.S., demand for EV-related industries remained very strong and sales increased. In Europe, demand for general industries remained very strong and EV-related business negotiations became active, resulting in an overall increase in sales. In Japan, sales increased as sales for general industries remained strong, despite sluggish sales for automobile industry. As a result, net sales in the Robot Division amounted to ¥96,479 million, up 20.0% compared with the corresponding period of the previous fiscal year.
In the Robomachine Division, sales of ROBODRILLs (compact machining centers) decreased due to a drop in demand in the Americas and China. Sales of ROBOSHOTs (electric injection molding machines) declined due to a peaking-out in demand from the IT-related and medical markets. Sales of ROBOCUTs (wire electrical-discharge machines) decreased due to lower demand from IT-related and EV-related markets in China, although demand from the medical market remained strong. As a result, net sales in the Robomachine Division amounted to ¥25,493 million, down 36.6% compared with the corresponding period of the previous fiscal year.
In the Service Division, with an emphasis on our policy of "Service First," we are strengthening the service system and improving efficiency by actively introducing IT technology. Net sales in the Service
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Division amounted to ¥30,146 million, up 18.8% compared with the corresponding period of the previous fiscal year.
(2) Financial Position
Total assets were ¥1,868,123 million, down ¥5,413 million compared with the end of the previous fiscal year.
Total liabilities were ¥227,448 million, down ¥18,533 million compared with the end of the previous fiscal year.
Total net assets were ¥1,640,675 million, up ¥13,120 million compared with the end of the previous fiscal year.
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Fanuc Corporation published this content on 30 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 06:04:11 UTC.