Financial Results for the
1st quarter of FY2021
(FY2021:From April 1, 2021 to March 31, 2022)
Aug. 23, 2021
© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.
Economic Market Trends
- The impact of the COVID-19 has declined, and the global economy is recovering, especially in the United States, Europe, and China
- The overseas material handling equipment market has been recovering to a level that exceeds the level before the COVID-19 disaster. This is a result of reactionary demand in China, which was the first to show recovery; the United States and Europe, where demand showed signs of recovery from around September last year; and Asia, which has been growing strongly recently. The recovery trend is more modest in Japan, because, among other things, the COVID-19 pandemic had a smaller economic impact than in the United States and Europe.
- The rapid economic recovery has led to sharp rising material and transportation costs, disruptions in the supply chain, and production and cost issues that have become apparent.
Summary of FY2021/1Q Results
- Strong sales at respective group companies due to growth of the forklift market have resulted in parts procurement and product shipment delays, especially at overseas bases. Consequently, establishing adequate production capabilities and normalizing lead times have become urgent issues.
- Net sales increased 19.4% YoY due to strong market recovery mainly in Americas and Europe.
- Operating profit increased 235.3% YoY (before amortization of goodwill, etc.) due to the contribution of increased sales from the market recovery, despite the impact of increased material and transportation costs.
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2. Financial Highlights
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Unit: Hundred million JPY |
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Profit and Loss |
FY2020/1Q |
FY2021/1Q |
YOY Change |
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Statement |
|||||||||
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Net Sales |
905.4 |
1,080.8 |
+175.4 |
+19.4％ |
|||||
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Operating Profit |
10.4 |
34.8 |
+24.4 |
+235.3％ |
|||||
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(Before amortization of goodwill, etc.) |
（1.1％） |
（3.2％） |
|||||||
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(Operating profit margin) |
|||||||||
|
Amortization of |
21.9 |
22.7 |
― |
― |
|||||
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Goodwill |
|||||||||
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Operating Profit |
△11.5 |
12.1 |
+23.6 |
― |
|||||
|
(Operating profit margin) |
（△1.3％） |
（1.2％） |
|||||||
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Ordinary Profit |
△13.8 |
11.9 |
+25.7 |
― |
|||||
|
(Ordinary profit margin) |
（△1.5％） |
（1.1％） |
|||||||
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Profit Attributable to |
△15.8 |
△0.4 |
+15.4 |
― |
|||||
|
Owners of Parent |
|||||||||
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（△1.7％） |
（△0.0％） |
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(Net income margin) |
|||||||||
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FY2020/1Q actual FX rates：USD＝JPY107.62 |
EUR＝JPY118.48 |
CNY＝JPY15.17 |
|||||||
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FY2020/4Q actual FX rates：USD＝JPY106.06 |
EUR＝JPY123.70 |
CNY＝JPY15.67 |
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FY2021/1Q actual FX rates：USD＝JPY109.49 |
EUR＝JPY131.93 |
CNY＝JPY16.95 |
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Balance Sheet |
FY2020/4Q |
FY2021/1Q |
YOY Change |
||||||
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Total Assets |
3,635 |
3,659 |
+24 |
+0.6％ |
|||||
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Total Liabilities |
3,080 |
3,104 |
+24 |
+0.8％ |
|||||
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Net Assets |
555 |
555 |
△0 |
0.0％ |
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© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved. |
3 |
3. Business Results by Segment
Net Sale: Net sales increased due to strong market recovery mainly in Americas and Europe.
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Unit: |
Domestic Business |
Overseas Business |
||
|
Hundred million JPY |
||||
|
1,200 |
905 |
1,081 |
||
|
1,000 |
||||
|
800 |
521 |
671 |
||
|
600 |
||||
|
400 |
||||
|
200 |
384 |
409 |
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|
0 |
||||
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FY2020/1Q |
FY2021/1Q |
|||
FY2021/1Q Sales by Region
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China |
||
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& Asia |
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Europe 7% |
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18% |
(6%) |
Japan |
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(16%) |
38% |
|
|
(42%) |
Americas
37%
(36%)
() = previous year
Operating profit (*): Despite the impact of the sharp rise of material and transportation costs, operating profit increased due to the contribution of higher gross profit from sales recovery.
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Profit* |
Hundred million JPY |
Domestic Business |
Overseas Business |
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Unit: |
|||||
|
40.0 |
34.8 |
||||
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Operating |
30.0 |
23.5 |
|||
|
20.0 |
4.4 |
||||
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10.4 |
|||||
|
10.0 |
|||||
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6.0 |
11.3 |
||||
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0.0 |
|||||
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FY2020/1Q |
FY2021/1Q |
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* Operating Profit before amortization of goodwill, etc.
© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.
FY2021/1Q Operating Profit by Segment
Domestic
Business
32.5%
Overseas (42.4%)
Business
67.5%
(57.6%)
() = previous year
4
|
(Unit: Hundred million JPY) |
(Unit: Hundred million JPY) |
|
500 |
409.3 |
500 |
400.4 |
||
|
400 |
383.9 |
400 |
323.5 |
||
|
300 |
300 |
||||
|
200 |
383.9 |
409.3 |
200 |
323.5 |
400.4 |
|
100 |
100 |
||||
|
0 |
0 |
||||
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FY2020/1Q |
FY2021/1Q |
FY2020/1Q |
FY2021/1Q |
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(Unit: Hundred million JPY) |
Europe |
(Unit: Hundred million JPY) |
China and Asia |
||
|
196.4 |
|||||
|
200 |
100 |
||||
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147.3 |
74.6 |
||||
|
50.7 |
|||||
|
100 |
196.4 |
50 |
|||
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147.3 |
74.6 |
||||
|
50.7 |
|||||
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0 |
0 |
||||
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FY2020/1Q |
FY2021/1Q |
FY2020/1Q |
FY2021/1Q |
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Disclaimer
Mitsubishi Logisnext Co. Ltd. published this content on 24 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 December 2021 06:06:04 UTC.
Publicnow 2021
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Technical analysis trends MITSUBISHI LOGISNEXT CO., LTD.
| Short Term | Mid-Term | Long Term | |
| Trends | Bearish | Neutral | Neutral |
Income Statement Evolution
