© Copyright Makino 2020
Explanatory Material of
Group Company
for the Third Quarter of
the Fiscal Year Ending
March 31, 2021
Makino Milling Machine Co., Ltd
January 29, 2021
No.2
No.2
FY2019 Actual 1,415 FY2020 Plan (Apr. 2020) 1,145 FY2020 Plan (Jul. 2020) 1,145 FY2020 Plan (Oct. 2020) 1,145 FY2020 Plan (Jan. 2021) 1,145
Order by destination
Consolidated
0
100
200
300
400
500
600
700
1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (100 mil yen)(
FY
)
Others
Die & Mold
Aerospace
Production Machinery
FY2019 Actual 1,415 FY2020 Plan (Apr. 2020) 1,145 FY2020 Plan (Jul. 2020) 1,145 FY2020 Plan (Oct. 2020) 1,145 FY2020 Plan (Jan. 2021) 1,145
No.4
No.4
0
20
40
60
80
100
120
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (Year) (100 mil yen)Others
Europe
North America
Asia
Japan
Monthly order of Makino
0
500
1,000
1,500
2,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
(
Year
)
(
100 mil yen
)
Others
Europe
North America
Asia
Japan
No.6
No.6
0
400
800
1,200
1,600
2,000
2,400
0
20
40
60
80
100
120
JMTBA
Makino
(
Year
)
(
100 mil yen
)
JMTBA
・
Makino (non-consolidated) Order
Non-Consolidated
0
200
400
600
800
1,000
0
10
20
30
40
50
JMTBA
Makino
(
Year
)
(
100 mil yen
)
JMTBA
・
Makino (non-consolidated) Domestic Order
No.8
No.8
0
400
800
1,200
1,600
0
20
40
60
80
JMTBA
Makino
(
Year
)
(
100 mil yen
)
JMTBA
・
Makino (non-consolidated) Overseas Order
Non-Consolidated
0
50
100
150
200
250
300
1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020(
100 mil yen
)
(
FY
)
Overseas
Domestic
FY2019 Actual 693 FY2020 Plan (Apr. 2020) 550 FY2020 Plan (Jul. 2020) 478 FY2020 Plan (Oct. 2020) 451 FY2020 Plan (Jan. 2021) 420No.10
No.10
-20
0
20
40
60
80
100
120
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
(
100 mil yen
)
(
FY
)
Others
Die & Mold
Aerospace
Production Machinery
FY2019 Actual 258 FY2020 Plan (Apr. 2020) 208 FY2020 Plan (Jul. 2020) 193 FY2020 Plan (Oct. 2020) 187 FY2020 Plan (Jan. 2021) 167
Domestic Order
0
50
100
150
200
250
300
1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020(mil S$)
(
FY
)
Others
Die & Mold
Aerospace
Production Machinery
FY2019 Actual 586 FY2020 Plan (Apr. 2020) 515 FY2020 Plan (Jul. 2020) 563 FY2020 Plan (Oct. 2020) 536 FY2020 Plan (Jan. 2021) 600
No.12
No.12
0
50
100
150
200
250
300
1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (mil S$)(FY
)
Others
India
China
China India Others FY2019 Actual 355 / 95 / 137 FY2020 Plan (Apr. 2020) 360 / 59 / 96 FY2020 Plan (Jul. 2020) 413 / 59 / 90 FY2020 Plan (Oct. 2020) 383 / 59 / 93 FY2020 Plan (Jan. 2021) 440 / 68 / 91
0
30
60
90
120
150
180
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
(mil. US$)(
FY
)
Others
Die & Mold
Aerospace
Production Machinery
FY2019 Actual 454 FY2020 Plan (Apr. 2020) 291 FY2020 Plan (Jul. 2020) 260 FY2020 Plan (Oct. 2020) 304 FY2020 Plan (Jan. 2021) 291
No.14
No.14
-10
0
10
20
30
40
50
60
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
1
Q
2
Q
3
Q
4
Q
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
(mil €)
(
FY
)
Others
Die & Mold
Aerospace
Production Machinery
FY2019 Actual 81 FY2020 Plan (Apr. 2020) 84 FY2020 Plan (Jul. 2020) 86 FY2020 plan (Oct. 2020) 62 FY2020 Plan (Jan. 2021) 55
Definition for industries shown in explanatory note
Makino categorizes its market to the following industries according to what
purpose the customers use Makino products for;
Die & Mold
:
where Makino products are used to manufacture Die or Mold to
shape mainly plastic or die-cast products
Production
where Makino products are used to manufacture component
Machinery
:
parts for automobiles or various kinds of machines or devices
other than aerospace products.
Aerospace
:
where Makino products are used to manufacture component
parts of aerospace products.
No.16
No.16
Acceleration of new-product development
5-Axis vertical machining center
「
D2
」
Nov. 2020
Laser processing machine (LUMINIZER)
「
LB300
/
LB500
」
Dec. 2020
Vertical machining center
for brittle material processing
「
e GRINDER BG500
」
5-Axis horizontal machining
center
「
a800Z
」
Jan. 2021
Our Initiatives
We are accelerating the speed of new machine development by standardization of design
and commoditization of the machine units.
Sales Automation
ー Youtube
Channel
-
No.18
No.18
Sales Automation
-
Special website for JIMTOF
-
Our Initiatives
Sales Automation
The number of visitors
The number of accumulated total visitors
The number of visitors accumulated total
An average visitors per day
The accumulated total number of people who visited our YouTube channel and home page reached over 344,000.
We are now building a system to distribute optimum information to each visitor based on this data.
No.20
No.20
Service Automation
IoT center in Kanagawa
IoT center in Kobe
IoT center in Nagoya
Our Initiatives
Service Automation
We consolidated warehouses into new one aiming for automating operations.
No.22
No.22
Service Automation
Our Initiatives
In the warehouse, several unmanned forklifts are running simultaneously.
And we are proceeding further automation.
Kunshan factory in China
(New) Factory
(New) Warehouse
&
Spare Parts Centre
(New) Customer Service
IOT Center
Existing factory
(
producing Electric Discharge Machine
)
This is our factory for manufacturing EDM machines in Kunshan, China. We expanded the factory for production increase.
No.24
Sales and Operating Income
No.24
USD 109.07 110.26 111.14 110.91 109.90 108.63 108.67 108.74 107.62 106.92 106.11 EUR 130.06 129.85 129.49 128.41 123.49 121.42 121.05 120.82 118.48 121.30 122.38 SGD 81.79 81.64 81.80 81.69 80.61 79.34 79.48 79.28 76.21 76.74 77.03 -12.0% -6.0% 0.0% 6.0% 12.0% 18.0% 24.0% -40,000 -20,000 0 20,000 40,000 60,000 80,000 1Q of FY2018 2Q of FY2018 3Q of F Y2018 4Q of FY2018 1Q of FY2019 2Q of FY2019 3Q of FY2019 4Q of FY2019 1Q of FY2020 2Q of FY2020 3Q of FY2020 Sales Operation Income Operation Income ratio
Exchange rate 20 / 2 Bil. Yen 40 / 4 Bil. Yen 60 / 6 Bil. Yen 80 / 8 Bil. Yen - / -2 Bil. Yen - / -4 Bil. Yen - / 0 Bil. Yen
for the Third Quarter of the Fiscal Year Ending March 31, 2021
(Comparison with the same period of last year)
3Q YTD of FY2019
3Q YTD of FY2020
Change
(Million yen)
(From Apr.1, 2019 to Dec.31, 2019) (From Apr.1, 2020 to Dec.31, 2020)(%)
- 36,627
(-31.9%)
1,532
- 4,615
- 6,148
(1.3%)
(-5.9%)
-2,256
- 3,202
- 5,459
(2.0%)
(-4.1%)
-413
- 3,859
- 4,273
(0.4%)
(-4.9%)
-Exchange rate, against USD
108.67
106.11
Exchange rate, against EUR
121.05
122.38
Exchange rate, against SGD
79.48
77.03
Net income / loss
attributable to owners of
the parent
Net sales
114,728
78,101
Operating income / loss
No.26
Segments
No.26
(Million yen)
1-
3
Q
of FY2020
Net sales
44,709
31,060
22,120
5,118 -24,907
78,101
(Sales in foreign currency)
(391,208)
(208,470)
(41,824)
Operating income/loss
- 5,579
1,624
1
- 1,080
417
- 4,615
1-
3
Q
of FY2019
Net sales
73,890
40,577
35,813
9,111 -44,665 114,728
(Sales in foreign currency)
(498,981)
(329,566)
(75,274)
Operating income/loss
- 1,140
2,848
921
- 1,018
- 79
1,532
1-
3
Q
of FY2018
Net sales
99,441
52,211
40,464
12,661 -60,300 144,478
(Sales in foreign currency)
(616,576)
(364,090)
(97,783)
Operating income/loss
10,467
4,761
1,253
- 596
- 1,410
14,476
Ⅰ
(Japan)
Ⅱ
(Asia)
Ⅲ
(America)
Ⅳ
(Europe)
Ⅰ
(Japan)
Ⅱ
(Asia)
Ⅲ
(America)
Ⅳ
(Europe)
Ⅰ
(Japan)
Ⅲ
(America)
Ⅱ
(Asia)
Ⅳ
(Europe)
Eliminations
Consolidated
Consolidated
Eliminations
Consolidated
Sales amount by Destination
(Million yen)
1-3Q
of FY2020
Net sales
18,251 31,129 22,268
5,424
1,027 78,101
Ratio
23.4%
39.9%
28.5%
6.9%
1.3%
1-3Q
of FY2019
Net sales
26,927 41,934 35,464
9,402
998 114,728
Ratio
23.4%
36.5%
30.9%
8.2%
0.8%
1-3Q
of FY2018
Net sales
34,937 53,675 39,385 13,198
3,281 144,478
Ratio
24.1%
37.1%
27.2%
9.1%
2.2%
Consolidated
Japan
Asia
America
Europe
Others
Consolidated
Japan
Asia
America
Europe
Others
Consolidated
No.28
Consolidated Balance Sheets
No.28
Assets
(Million yen)
Cash and time deposits
55,748
68,788
13,039
Notes and accounts receivable
40,179
25,356
- 14,822
Marketable securities
35
3,347
3,312
Inventories
58,346
59,575
1,228
Other current assets
8,683
5,969
- 2,714
Allowance for doubtful accounts
- 949
- 1,078
- 128
Total
162,043
161,959
- 84
Property, plant and equipment
67,808
68,091
282
Intangible assets
4,581
4,155
- 426
Investments and other assets
24,454
34,164
9,709
Total
96,845
106,411
9,565
258,889
268,370
9,481
Total assets
End of FY2019
(As of Mar. 31, 2020)End of Q3 FY2020
(As of Dec. 31, 2020)
Change
C
u
rr
e
n
t a
sse
ts
Item
N
o
n
cu
rr
en
t
asse
ts
Consolidated Balance Sheets
Liabilities and net assets
(Million yen)
End of FY2019
End of Q3 FY2020
(As of Mar. 31, 2020) (As of Dec. 31, 2020)
Notes and accounts payable
23,968
17,479
- 6,489
Short-term loans from banks
4,767
4,896
129
Current portion of long-term debt
597
1,000
402
Other current liabilities
22,864
21,734
- 1,130
Total
52,198
45,109
- 7,088
Bonds payable
20,000
20,000
-Long-term loans payable
20,445
31,654
11,208
Other noncurrent liabilities
14,541
17,022
2,480
Total
54,987
68,676
13,689
107,185
113,786
6,601
Common stock
21,142
21,142
-Capital surplus
37,070
37,074
3
Retained earnings
93,424
89,075
- 4,348
Treasury stock
- 2,011
- 2,173
- 162
Total
149,626
145,119
- 4,507
1,248
8,680
7,431
828
784
- 44
151,703
154,583
2,880
258,889
268,370
9,481
Valuation and translation adjustments
Non-controlling interests
Total net assets
Total liabilities and net assets
S h ar eh old ers ' eq u ity
Total liabilities
Change
C u rr en t liab ilit ie sItem
N on cu rr en t liab ilit ie sNo.30
Consolidated Statements of Cash Flow
No.30
(Million yen)
Item (From Apr. 1, 2019 to Dec. 31, 2019) (From Apr. 1, 2020 to Dec. 31, 2020)3Q YTD of FY2019 3Q YTD of FY2020
I. Cash flows from operating activities:
Income (loss) before income taxes 2,277 - 3,340
Depreciation and amortization 4,649 5,061
(Increase) decrease in notes and accounts receivable, trade 16,911 14,558
(Increase) decrease in inventories - 2,105 - 1,348
Increase (decrease) in notes and accounts payable, trade - 8,647 - 6,404
Other, net - 7,010 1,204
Cash flows from operating activities 6,076 9,731
II. Cash flows from investing activities:
Purchase of property, plant and equipment - 5,572 - 3,936 Proceeds from sales of property, plant and equipment 255 434
Other, net - 735 - 988
Cash flows from investing activities - 6,052 - 4,490
III. Cash flows from financing activities:
Increase (decrease) in short-term loans payable, net 689 293
Repayment of finance-lease obligations - 459 - 502
Proceeds from long-term loans payable - 12,111
Repayment of long-term loans payable - 60 - 611
Payment for purchases of treasury stock - 1 - 162
Payment for purchases of treasury stock of subsidiaries - - 22
Dividends paid by the parent company - 2,923 - 490
Dividends paid to minority shareholders - 13 - 11
Cash flows from financing activities - 2,767 10,604
IV. Effect of exchange rate changes on cash and cash equivalents - 768 195
V. Net increase (decrease) in cash and cash equivalents - 3,513 16,041
VI. Cash and cash equivalents, beginning of period 48,827 55,358
Capital Investment (Forecast)
52
39
36
27
20
35
70
86
94
84
43
65
0
50
100
150
FY2016
FY2017
FY2018
FY2019
FY2020
1-3Q
FY2020
Plan
(100mil yen)
No.32
Depreciation (Forecast)
No.32
37
37
39
39
28
39
49
51
59
66
50
68
0
30
60
90
FY2016
FY2017
FY2018
FY2019
FY2020
1-3Q
FY2020
Plan
(100mil yen)
1,485
1,501
1,466
1,468
1,493
4,593
4,731
4,805
4,757
4,540
0
2,500
5,000
7,500
FY2016
FY2017
FY2018
FY2019
FY2020
1-3Q
(Persons)
No.34
Forecast of Consolidated Operating Results
No.34
Actual
Previous Forecast
(as of Oct. 30,2020)
3Q YTD of FY2020
4Q of FY2020
FY2020
FY2020
(Million yen)
(From Apr. 1, 2020to Dec. 31, 2020) (From Jan. 1, 2021to Mar. 31, 2021) (From Apr. 1, 2020to Mar. 31, 2021) (From Apr. 1, 2020to Mar. 31, 2021)-4,615
-185
-4,800
-6,000
(-5.9%)
(-0.5%)
(-4.2%)
(-5.3%)
-3,202
-398
-3,600
-5,000
(-4.1%)
(-1.1%)
(-3.2%)
(-4.4%)
-3,859
-541
-4,400
-5,600
(-4.9%)
(-1.5%)
(-3.9%)
(-4.9%)
Exchange rate, against USD
106.11
103.00
105.00
106.00
Exchange rate, against EUR
122.38
121.00
122.00
119.20
Exchange rate, against SGD