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Copyright (c) 2012 Unicharm Corporation. All rights reserved.
Unicharm Presentation Materials for
Investor’s Meeting
Unicharm Corporation
Takahisa Takahara
President and CEO
Forecasts included in this Presentation are based on assumptions, prospects and plans
as of July 31, 2012. Actual results may differ significantly from these forecasts due to
various factors affecting the Company's business performance such as competitors’
movements and fluctuations in exchange rates.
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Table of Contents
1. Financial Performance Review:
Fiscal Year Ended June 30, 2012 P3
2. Operating Environment Review:
Fiscal Year Ended June 30, 2012 P13
3. Shareholder Return Policy for Year Ending
March 31, 2013 P19
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
1. Financial Performance Review:
Fiscal Year Ended June 30, 2012
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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4
Compared to same last year period, sales and operating income achieved
all-time high - up 19.2% and 13.6% respectively.
Compared to previous year (in million yen)
Fiscal Year Ended
June 30, 2011
Fiscal Year ended
June 30, 2012
Increase
(decrease)
Increase
(decrease)
(%)
Assessment
Net sales 100,765 120,112 19,346 19.2% ○
Operating
income 13,558 13.5% 15,399 12.8% 1,840 13.6% ○
Ordinary
income 12,580 12.5% 11,981 10.0% (598) (4.8%) ×
Net income 9,196 9.1% 8,032 6.7% (1,164) (12.7%) ×
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Impact of raw
materials price
increases
(- 0.2%P)
(0.3)
5
Operating income increased 1.9bn driven by increase of gross
profit due to sales increase.
Year Ended June 30, 2011 Year Ended June 30, 2012
Increase in
sales
promotion
expenses
(2.8)
Increase
in labor
costs
(0.9)
Increase in
advertising
expenses
(0.4)
Increase in
freight and
other
related
charges
(0.3)
Other
increases
(1.6)
Impact of product
mix/productivity
(-0.5%P)
(0.6)
Increase in
gross profit due
to sales increase
of ¥19.3 billion
+9
Increase in
depreciation
expense
(0.2)
13.5 15.4
billion
yen
billion
yen
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Sales and Profit largely increase in Asia and Middle East and Other areas.
Asia region has become the largest source of profits.
Geographical Segment Information
Japan Asia
Europe, Middle
East and other
areas
TotalElimination/
CorporateConsolidated
Fiscal Year Ended June 30, 2011
Net sales 56,223 34,612 9,929 100,765 ‐ 100,765 Operating income 7,413 5,790 404 13,608 (50) 13,558
Fiscal Year Ended June 30, 2012
Net sales 55,871 47,310 16,930 120,112 ‐ 120,112 Operating income 6,500 7,861 1,057 15,419 (20) 15,399
Increase (decrease)
Net sales (352) 12,697 7,000 19,347 ‐ 19,347 Operating income (913) 2,071 653 1,811 30 1,841
Increase (decrease) (%)
Net sales (0.6%) 36.7% 70.5% 19.2% - 19.2% Operating income (12.3%) 35.8% 161.4% 13.3% (58.9%) 13.6%
(in million yen)
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Asia region continue to sustain high profitability.
Consolidated operating margin was 12.8%.
Operating margin by Geographical Segment
8.5%
13.2%
11.7% 11.6%8.6%
9.0%12.5%
14.7%
12.5%
18.7%
16.7% 16.6%
9.1%
5.1%5.8%
2.5% 2.4% 2.4%
5.2%4.0%
4.5%
13.6% 13.5%
11.8%
7.5%
12.8%
9.0%
7.9%
0.0%
5.0%
10.0%
15.0%
20.0%
'06/6 '07/6 '08/6 '09 /6 '10 /6 '11 /6 '12 /6
Japan Asia Middle East/Europe/USA Consolidated
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Personal Care segment continued to maintain double digit growth.
Pet Care segment is growing rapidly by M&A.
Business Segment Information (in million yen)
Personal
CarePet Care Others Total
Elimination/
CorporateConsolidated
Fiscal Year Ended June 30, 2011
Net sales 87,756 11,509 1,500 100,765 - 100,765 Operating income 12,395 1,033 124 13,552 6 13,558
Fiscal Year Ended June 30, 2012
Net sales 100,509 18,107 1,496 120,112 - 120,112 Operating income 14,030 1,275 89 15,394 5 15,399
Increase (decrease)
Net sales 12,753 6,597 (4) 19,347 - 19,347 Operating income 1,635 242 (35) 1,842 (1) 1,841
Increase (decrease) (%)
Net sales 14.5% 57.3% (0.3%) 19.2% - 19.2% Operating income 13.2% 23.4% (29.3%) 13.6% - 13.6%
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Sales contribution of overseas business reached an all-time high of
53.9% driven by the growth of Asia region.
Change in Domestic and Overseas Net Sales (in million yen)
26.8%
31.8%34.4%
39.6% 39.6%
43.4%44.6%
53.9%
23.3%
39.4%
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
130,000
140,000
'08/6 '09/6 '10/6 '11/6 '12/6
0%
10%
20%
30%
40%
50%
60%
Sales in Japan (left gauge) Sales in Asia (left gauge)
Overseas sales excluding Asia (left gauge) Sales ratio in Asia (right gauge)
Overseas sales ratio (right gauge)
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Sales promotion expenses increased due to strengthen marketing activities
and expansion of sales areas.
Logistics cost’s ratio decreased by optimizing the global supply chain.
Increases/Decreases in Consolidated Selling, General
and Administrative Expenses(Consolidated)
Amount
Ratio to net
sales Amount
Ratio to net
sales
Freight and other related
charges 5,316 5.3% 5,633 4.7% 317 (0 .6%P)
Sales promotion expenses 13,222 13.1% 15,975 13.4% 2,753 0.3%P
Advertising expenses 3,122 3.1% 3,528 3.0% 406 (0 .1%P)Employee salaries and
bonuses 2,666 2.6% 3,525 3.0% 859 0.4%PProvision to reserve for
bonuses 886 0.9% 912 0.8% 26 (0 .1%P)Retirement benefit
expenses 324 0.3% 380 0.4% 56 0.1%PDepreciation/amortization
expenses 262 0.3% 485 0.5% 223 0.2%P
Other expenses 7,089 7 .0% 8,738 6 .8% 1,649 (0 .2%P)
Total 32,887 32.6% 39,176 32.6% 6,289 0.0%P
Fiscal Year Ended
June 30, 2012
Fiscal Year Ended
June 30, 2011
Increase
(decrease)
Increase
(decrease)
(%)
(in million yen)
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Foreign exchange losses incurred due to appraisal of the parent
company subsidiary loan.
Increase (Decrease) in Non-Operating Income (Expenses) (Consolidated)
Fiscal Year
Ended June
30, 2011
Fiscal Year
Ended June
30, 2012
Amount Amount
Non-operating revenues
Interest income 198 184 (14)
Dividends income 117 132 15Others 120 111 (9)
Total 437 429 (8)Non-operating expenses
Interest expenses 96 102 6
Sales discounts1,071 1,300 229
Increase by sales
expansion
Foreign exchange losses175 2,389 2,214
Effect of the parent
company subsidiary loan
Others 71 54 (17)Total 1,415 3,847 2,432
Increase
(Decrease)Major causes
(in million yen)
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Structural improvement expenses occurred for improving
profitability of Australian subsidiary.
Increase (Decrease) in Extraordinary Income (Loss) (consolidated)
Fiscal Year Ended
June 30, 2011
Fiscal Year Ended
June 30, 2012
Amount Amount
Gains on sales of noncurrent assets 1 21 20
Others 0 5 5
Total 1 27 26
Loss on disposal of noncurrent assets 111 32 (79)
Loss from disasters 277 0 (277) Earthquake-related
Costs of business structure
improvement 44 28 (16)
Mainly improvements in
structure of Australian
subsidiary
Others 58 1 (57)
Total 491 62 (429)
Extraordinary income
Extraordinary loss
Increase
(decrease)Major causes
(in million yen)
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
2. Operating Environment Review:
Fiscal Year Ended June 30, 2012
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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14
Recent pulp prices continue to be on an upward trend,
while naphtha prices have changed rapidly to a downward trend.
Chart of Naphtha/Pulp Price
0
300
600
900
1200
'08/
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8/6'0
8/8
'08/
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'08/
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1/8
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2/2'1
2/4'1
2/6
Naphtha Pulp
(US$/ton)
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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'07/3 '08/3 '09/3 '10/3 '11/3 '12/3 '12/6 '13/3E
Procurement costs increased by ¥0.3 billion ended June 30.
On an annual basis, it is assumed rise of 1.2 billion.
Increase/Decrease of Raw Material Costs from Previous Year (in billion yen)
(9.3)
+7.2
+3.0
+3.2
+8.0
+5.6
+0.3 +1.2
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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Almost all currencies suffered from Yen hike, sales and operating income
were reduced 2.2 and 0.2 billion respectively by the impact of currency
depreciation.
Impact of Exchange Rate Fluctuations (Fiscal Year Ended June 30, 2012) compared with the same period last year)
Net sales
(in million yen)
Operating
Income
(in million yen)
Previous Year
Rate
Current Year
Rate
Change in
Rate (%)
Taiwan dollar (133) (22) 2.83 2.70 (4.6%)
Baht (Thailand) (418) (90) 2.70 2.57 (4.8%)
Won (South Korea) (96) (13) 0.0737 0.0703 (4.6%)
Rupiah (Indonesia) (1,032) (177) 0.0096 0.0087 (9.4%)
Ringgit (Malaysia) (89) (11) 27.06 25.76 (4.8%)
Euro (334) (12) 112.57 103.99 (7.6%)
RMB (China) 115 22 12.50 12.57 0.6
Peso (Philippines) (2) (0) 1.90 1.86 (2.1%)
Riyal (Saudi Arabia) (116) (13) 21.82 21.41 (1.9%)
Rupee (India) (122) 83 1.85 1.50 (18.9%)
US$ (15) (1) 82.34 79.28 (3.7%)
Ruble (Russia) (30) (1) 2.82 2.64 (6.4%)
Australian Dollar 25 0 82.75 83.73 1.2%
Total (2,247) (234) ― ― ―
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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8
9
10
'10/9
'10/1
0
'10/1
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'10/1
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'11/1
'11/2
'11/3
'11/4
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'12/3
'12/4
'12/5
'12/6
1
1.1
1.2
1.3
1.4
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1/2
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2/2
'12/
4
Shop prices of disposable diapers in Asia continue to be in the
upward trend.
On the other hand,Japan have remained in the flat trend.
Disposable diaper - Changes in shop price per piece (Average of all manufacturers) China Thailand
Indonesia Japan
1,600
1,650
1,700
1,750
1,800
1,850
1,900
1,950
'10/
8
'10/
10
'10/
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1/2
'11/
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1/6
'11/
8
'11/
10
'11/
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2/2
'12/
4
20
20.5
21
21.5
22
22.5
23
23.5
'10/8
'10/1
0
'10/1
2'1
1/2'1
1/4'1
1/6'1
1/8
'11/1
0
'11/1
2'1
2/2'1
2/4'1
2/6
(*) Prices in Japan include those of toilet-training pants. Source: UC Research
(Baht) (RMB)
(Rupiah) (Yen)
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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1.6
1.8
2
2.2
2.4
2.6
2.8
3
3.2
3.4
'10/
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4'1
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0.3
0.32
0.34
0.36
0.38
0.4
0.42
0.44
0.46
0.48
0.5
0.52
0.54
'10/
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1/2
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1/6
'11/
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'11/
10
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2/2
'12/
4
In case of Thailand and Indonesia, the shop prices of female
sanitary products were stable, while China continued to increase
through the introduction of value-added products.
Sanitary pads - Changes in shop price per piece (Average of all manufacturers) China Thailand
Indonesia Japan
300
350
400
450
500
550
600
'10/
8
'10/
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'10/
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1/2
'11/
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2/2
'12/
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8
8.2
8.4
8.6
8.8
9
9.2
9.4
9.6
'10/8
'10/1
0
'10/1
2'1
1/2'1
1/4'1
1/6'1
1/8
'11/1
0
'11/1
2'1
2/2'1
2/4'1
2/6
(*) Including sanitary pads, liners and tampons (Source) UC Research
(RMB) (Baht)
(Rupiah) (Yen)
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
3. Shareholder Return Policy
for Year Ending March 31, 2013
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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20
Planned dividend for FY13/3 is ¥34, ¥2 increase from FY12/3, achieving 11th
consecutive year of dividend raise
Changes in Dividends
* In year ended Mar 2001, commemorative dividends were
distributed in connection with appointment of the new CEO.
(Yen)
68 7 8 9 10 11
1518
23
28
3234
15
0
5
10
15
20
25
30
35
40
'00/3 '01/3 '02/3 '03/3 '04/3 '05/3 '06/3 '07/3 '08/3 '09/3 '10/3 '11/3 '12/3 '13/3E
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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21.7%
93.9%
59.9%56.0%
64.2%
43.5%
11.8%
46.2%
58.7%
47.5%49.5%
44.7%
38.3%
55.6%50.0%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
1997 1998 '01/3 '02/3 '03/3 '04/3 '05/3 '06/3 '07/3 '08/3 '09/3 '10/3 '11/3 '12/3 '13/3E0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%Dividends Company stock buy-back Profit return ratio
21
Maintaining total shareholder return of 50% through result-driven
dividend and share buy back program
Outlook for Return to Shareholders (in billion yen)
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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22
Unicharm Ideals
We contribute to creating a better quality of life for everyone
by offering only the finest products and services to the
market and customers, both at home in Japan and abroad.
We strive to pursue proper corporate management
principles which combine corporate growth, associated
well-being and the fulfillment of our social responsibilities.
We bring forth the fruits of cooperation based on integrity
and harmony, by respecting the independence of the
individual and striving to promote the Five Great Pillars.
Copyright (c) 2012 Unicharm Corporation. All rights reserved.
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23