FY2018 Year End Business Results 20190507 - amano.co.jp · Th b i f t d j ti d ibdh i b d tl...

Fiscal YearFiscal Year 20182018 (The year ending March(The year ending March 2019)2019)Fiscal Year Fiscal Year 20182018 (The year ending March (The year ending March 2019)2019)

Year End Business ResultsYear End Business Results

AMANO CORPORATIONAMANO CORPORATION (Ticker: 6436)(Ticker: 6436)April 26, 2019

Contact : Corporate Planning Unit,Corporate Planning Division

TEL :Web site :

Corporate Planning Division +81(0)45-439-1591http://www.amano.co.jp/English/

【 Index 】

FY2018 Financial Report The year ending March 2019

P. 3

The 7th Medium-term Business Plan The 2nd Stage Towards a 100-year Company

P.19

Business Plan for FY2019 P.25

Th b i f t d j ti d ib d h i b d tl il blThe business forecasts and projections described herein are based on currently available information and it contains potential risks and uncertainties. Please acknowledge that actual results may differ substantially due to various unforeseeable factors that may or may not occur in the future.

FY2018 Financial ReportFY2018 Financial ReportppThe Year ending March 2019The Year ending March 2019

3

Business Performance

(In million yen)

Amount % Change(%) Amount % Amount % Amount % Amount %% % % % % %

Disclosed plan FY2018Result

FY2017Result

Change(YOY) Change overplan

●Consolidated ●Consolidated performance (Year-on-year)

1. Sales: Up \ 7,308 Mil （ 5.9 % ）Up 5,397 Mil （ Up 5.9 % ）Up 2,416 Mil （ Up 9.0 % ）

（）

･Time Information Segment: Incl: Information Systems:

Net sales 130,000 100.0 4.5 131,713 100.0 124,405 100.0 7,308 5.9 1,713 101.3Gross profit 58,000 44.6 4.9 58,246 44.2 55,302 44.5 2,944 5.3 246 100.4SG&A 43,000 33.1 5.0 43,084 32.7 40,951 32.9 2,132 5.2 84 100.2Operating profit 15,000 11.5 4.5 15,161 11.5 14,350 11.5 811 5.7 161 101.1Non-operating income 750 0.6 (20.8) 1,081 0.8 947 0.8 134 14.2 331 144.2Non-operating expense 50 0.0 (78.9) 152 0.1 237 0.2 (84) (35.5) 102 305.7

Up 3,122 Mil （ Up 5.1 % ）Up 1,911 Mil （ Up 5.8 % ）Up 1,840 Mil （ Up 8.4 % ）Up 70 Mil （ Up 0.6 % ）

Incl: Parking Systems:･Environmental Segment:Incl: Environmental Systems: Incl:Clean Systems:

Ordinary profit 15,700 12.1 4.2 16,090 12.2 15,060 12.1 1,030 6.8 390 102.5Extraordinary profit 0 166 259 (92) - 166 Extraordinary loss 1,050 1,423 39 1,383 373 Net income attributable toowners of the parent company 9,800 7.5 (2.2) 9,142 6.9 10,019 8.1 (877) (8.8) (657) 93.3* FX Rates (Yearly Average): 　US$ 105.00 　US$ 110.37 　US$ 112.04

EUR 130.00 　EUR 130.00 EUR 127.19

2. Gross Profit: Up \ 2,944 Mil （ 5.3 % ）44.2 % Dn 0.3 %

･Time Information Segment : Dn 0.4 %･Environmental Segment : Up 0.1 %

Gross Profit Ratio:

◆ ACJ * ACJ; Amano Corporation Japan(In million yen)

Disclosed plan FY2018R lt

FY2017R lt

Change(YOY) Change overl

3. SG&A: Up \ 2,132 Mil （ 5.2 % ）・Labor Cost Up 1,504 Mil （ Up 5.8 % ）・Other Costs Up 627 Mil （ Up 4.2 % ）

Amount % Change(%) Amount % Amount % Amount % Amount %% % % % % %

Net sales 74,000 100.0 3.1 74,796 100.0 71,754 100.0 3,041 4.2 796 101.1Gross profit 32,000 43.2 3.3 32,222 43.1 30,980 43.2 1,241 4.0 222 100.7SG&A 21,700 29.3 2.5 21,066 28.2 21,170 29.5 (103) (0.5) (633) 97.1Operating profit 10 300 13 9 5 0 11 155 14 9 9 810 13 7 1 345 13 7 855 108 3

pResult Result

g ( )plan

4. Operating Profit: Up \ 811 Mil （ 5.7 % ）･Time Information Segment: \ 13,590 Mil （ Up 545 Mil ）･Environmental Segment: \ 5,621 Mil （ Up 431 Mil ）･Company-wide Expenses: \ -4,049 Mil （ Dn 165 Mil ）Operating profit 10,300 13.9 5.0 11,155 14.9 9,810 13.7 1,345 13.7 855 108.3

Non-operating income 1,750 2.4 (9.1) 2,133 2.9 1,924 2.7 208 10.8 383 121.9Non-operating expense 50 0.1 (52.4) 78 0.1 105 0.1 (26) (25.4) 28 156.8Ordinary profit 12,000 16.2 3.2 13,210 17.7 11,629 16.2 1,580 13.6 1,210 110.1Extraordinary profit 0 862 250 611 862 Extraordinary loss 1,050 1,147 2 1,144 97 Net income 7,800 10.5 (7.8) 9,827 13.1 8,456 11.8 1,370 16.2 2,027 126.0

p y p ,

●Operating profit Ratio 11.5 % （FY2017: 11.5%）●ROE 8.7 % （FY2017: 9.8%）

1.76 times （FY2017: 1.73 times）●Cons Sales / Parent Sales

4

, ( ) , , , ,

Sales by Business Division

●Consolidated(In million yen)

Amount % Change% Amount % Amount % Amount % Amount %Business division Disclosed plan FY2018 FY2017 Change(YOY) Change over planou t % ou t % ou t % ou t % ou t %

% % % % % %Information Systems 29,000 22.3 8.4 29,176 22.2 26,759 21.5 2,416 9.0 176 100.6Time Management Products 3,500 2.7 (6.7) 3,609 2.7 3,751 3.0 (141) (3.8) 109 103.1Parking Systems 63,500 48.8 4.5 63,879 48.5 60,757 48.8 3,122 5.1 379 100.6Total: Time Information Segment 96,000 73.8 5.2 96,665 73.4 91,268 73.3 5,397 5.9 665 100.7Environmental Systems 22,800 17.6 3.7 23,833 18.1 21,993 17.7 1,840 8.4 1,033 104.5Clean Systems 11,200 8.6 0.5 11,213 8.5 11,143 9.0 70 0.6 13 100.1Total: Environmental Segment 34,000 26.2 2.6 35,047 26.6 33,136 26.7 1,911 5.8 1,047 103.1

Grand total 130 000 100 0 4 5 131 713 100 0 124 405 100 0 7 308 5 9 1 713 101 3

●ACJ

Grand total 130,000 100.0 4.5 131,713 100.0 124,405 100.0 7,308 5.9 1,713 101.3

(In million yen)Di l d l Ch (YOY)FY2018 FY2017 Ch l

Amount % Change% Amount % Amount % Amount % Amount %% % % % % %

Information Systems 16,000 21.6 5.6 17,032 22.8 15,155 21.1 1,877 12.4 1,032 106.5Time Management Products 3 000 4 1 (2 9) 3 063 4 1 3 089 4 3 (26) (0 9) 63 102 1

Business division Disclosed plan Change(YOY)FY2018 FY2017 Change over plan

Time Management Products 3,000 4.1 (2.9) 3,063 4.1 3,089 4.3 (26) (0.9) 63 102.1Parking Systems 30,800 41.6 1.8 30,059 40.2 30,255 42.2 (196) (0.6) (740) 97.6Total: Time Information Segment 49,800 67.3 2.7 50,154 67.1 48,500 67.6 1,654 3.4 354 100.7Environmental Systems 19,500 26.3 4.6 19,931 26.6 18,635 26.0 1,296 7.0 431 102.2Clean Systems 4,700 6.4 1.8 4,710 6.3 4,618 6.4 91 2.0 10 100.2

5

Total: Environmental Segment 24,200 32.7 4.1 24,642 32.9 23,254 32.4 1,387 6.0 442 101.8Grand total 74,000 100.0 3.1 74,796 100.0 71,754 100.0 3,041 4.2 796 101.1

Quarterly Performance (Consolidated)◆ Quarterly Performance (In million yen)◆ Quarterly Performance (In million yen)

Amount % Amount % Amount % Amount % Amount %% % % % %

Net sales 28,180 100.0 32,828 100.0 31,225 100.0 39,479 100.0 131,713 100.0

FY2018 Result1st quarter 2nd quarter 3rd quarter 4th quarter

Net sales 28,180 100.0 32,828 100.0 31,225 100.0 39,479 100.0 131,713 100.0Gross profit 12,341 43.8 14,695 44.8 13,300 42.6 17,909 45.4 58,246 44.2SG&A 10,950 38.9 10,582 32.2 10,247 32.8 11,303 28.6 43,084 32.7Operating profit 1,390 4.9 4,112 12.5 3,053 9.8 6,605 16.7 15,161 11.5Non-operating income 226 0.8 243 0.7 271 0.9 340 0.9 1,081 0.8Non-operating expense 30 0.1 17 0.1 25 0.1 78 0.2 152 0.1Ordinary profit 1,586 5.6 4,338 13.2 3,299 10.6 6,867 17.4 16,090 12.2Extraordinary profit 2 5 5 153 166 Extraordinary loss 4 6 1,180 232 1,423 N t i tt ib t bl t f

◆ Quarterly Sales

Net income attributable to owners ofthe parent company 765 2.7 3,062 9.3 1,446 4.6 3,867 9.8 9,142 6.9

* FX Rates (Quarterly Average): 　US$ 107.50 　US$ 109.53 　US$ 111.88 　US$ 112.56 　US$ 110.37　EUR 132.33 　EUR 128.98 　EUR 130.52 　EUR 128.17 　EUR 130.00

(In million yen)Q y (In million yen)

Amount % Amount % Amount % Amount % Amount %% % % % %

Information Systems 6,097 21.6 7,153 21.8 6,243 20.0 9,681 24.5 29,176 22.2

Business division 1st quarter 2nd quarter FY2018 Result3rd quarter 4th quarter

y , , , , ,Time Management Products 822 2.9 873 2.7 833 2.7 1,080 2.7 3,609 2.7Parking Systems 13,931 49.5 15,833 48.2 15,780 50.5 18,333 46.4 63,879 48.5Total: Time Information Segment 20,851 74.0 23,860 72.7 22,857 73.2 29,095 73.6 96,665 73.4Environmental Systems 4,707 16.7 5,759 17.5 5,666 18.1 7,701 19.5 23,833 18.1

6

Clean Systems 2,620 9.3 3,208 9.8 2,701 8.7 2,682 6.9 11,213 8.5Total: Environmental Segment 7,328 26.0 8,968 27.3 8,368 26.8 10,383 26.4 35,047 26.6

Grand total 28,180 100.0 32,828 100.0 31,225 100.0 39,479 100.0 131,713 100.0

Consolidated Sales & Operating Profit Transitions (Quarterly)

■ Net sales

30 39834,545

30 774 30 162

36,28132,828 31 225

39,479

35,000

40,000

45,000

■ Net sales（In million yen）

26,20130,398 28,978

27,18730,774 30,162

28,18031,225

15 000

20,000

25,000

30,000

0

5,000

10,000

15,000

6 605 25.0%7,000

FY20161Q

2Q 3Q 4Q FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q

■ Operating profit（In million yen）

5,081 5,209

6,605

11.7% 10.3%14.7% 12.5% 11.6% 14.4% 12.5%

9.8%

16.7%

10 0%

15.0%

20.0%

4 000

5,000

6,000

Operating profitOperating profit ratio

1,541

3,5582,984

1,783

3,844 3,512

1,390

4,1123,053

5.9% 6.6% 4.9%

0.0%

5.0%

10.0%

2,000

3,000

4,000

-10.0%

-5.0%

0

1,000

FY20161Q

2Q 3Q 4Q FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q

7

Sales & Operating Profit by Business Segment(In million yen)

FY2018 1Q FY2018 2Q Year ending Year ending ChFY2018 4QFY2018 3Q

Sales Sales Sales Sales Sales Sales% % % % % % % %

Time Information Segment 20,851 1,545 7.4 23,860 3,592 15.1 22,857 2,620 11.5 29,095 5,832 20.0 96,665 13,590 14.1 91,268 13,044 14.3 5,397 5.9 545 4.2Environmental Segment 7,328 861 11.8 8,968 1,502 16.8 8,368 1,350 16.1 10,383 1,906 18.4 35,047 5,621 16.0 33,136 5,189 15.7 1,911 5.8 431 8.3

FY2018 1Q FY2018 2Q Year endingMarch 31, 2019

Year endingMarch 31, 2018

ChangeFY2018 4QFY2018 3Q

Operating profit Operating profit Operating profit Operating profit Operating profitOperating profitOperating profit Sales

【Net sales】【Operating profit】【References】

Company-wide Expenses 0 (1,016) 0.0 0 (982) 0.0 0 (917) 0.0 0 (1,132) 0.0 0 (4,049) 0.0 0 (3,884) 0.0 0 0.0 (165) Total 28,180 1,390 4.9 32,828 4,112 12.5 31,225 3,053 9.8 39,479 6,605 16.7 131,713 15,161 11.5 124,405 14,350 11.5 7,308 5.9 811 5.7

Ti I f ti S t U 5 9%

91,268 96,665

80,000

100,000

5,189 5,621

14,350 15,161

15,000

19,000

Company-wide Expenses

Total: Environmental Segment

（In million yen）

Increase / decreasein gross profit margin

●Time Information Segment Up 5.9%（In million yen）

FY2017/FY2018 Consolidated ACJ

Information Systems

26,759 29,176

3,751 3,609

60,757 63,879

20,000

40,000

60,000 Parking Systems

Time Management Products

Information Systems

13,044 13,5903,000

7,000

11,000Segment

Total: Time Information Segment

Time Management Products

Parking Systems

Environmental Systems

0FY2017 FY2018

(3,884) (4,049)△ 5,000

△ 1,000

FY2017 FY2018


Company-wide Expenses

Clean Systems

●Environmental Segment Up 5.8%

11,143 11,213

33,136 35,047

20,000

30,000

40,000

Clean Systems

● Time Information Segment Up 4.2 ％● Environmental Segment Up 8.3 ％

21,993 23,833

0

10,000

FY2017 FY2018


8

Performance by Business DivisionPerformance by Business DivisionPerformance by Business DivisionPerformance by Business Division

9

Information Systems※※ Increased Domestic & Overseas SalesIncreased Domestic & Overseas Sales

ー ACJ ーー Consolidated ーThe ENACTMENT of Work Style Reform and related Acts

※ ※ Increased Domestic & Overseas SalesIncreased Domestic & Overseas Sales【Sales（YOY）】

･ Strong Orders for Software and Cloud Services･ Favorable T&A Terminal Sales ･ Firm Orders from the Public sector


26,75929,176

30,000

35,000Up 9.0%

･N. America:Sales Grew at Accu-Time Systems Inc.

･Europe:13,957 15,155

17,032

24,78926,759

0 000

15,000

20,000

25,000Up 12.4%

Europe: Sales Grew at Horoquartz, S.A.

0

5,000

10,000

FY2016 FY2017 FY2018 FY2016 FY2017 FY2018

8,577

9,681

9,00010,000 ACJ

Consolidated


【Sales composition by Region】【Quarterly Sales Performance (1Q FY2016 to 4Q FY2018)】

2,7053,608

2,962

4,680

2,7983,920

3,066

5,369

3,059

4,2913,398

6,2835,430

6,272 5,572

7,514

5,528

6,7335,920

,

6,0977,153

6,243

3 0004,0005,0006,0007,0008,000,

01,0002,0003,000

FY20161Q

2Q 3Q 4Q FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q

10

Time Management Products※ Domestic & Overseas Sales Declined※ Domestic & Overseas Sales Declined

ー ACJ ーー Consolidated ー･TimeP@ck Series; Sales higher

※ Domestic & Overseas Sales Declined※ Domestic & Overseas Sales Declined【Sales（YOY）】

･Basic Time Recorders;Domestic and export sales volume declined


3,818 3,751 3,6094,0004,500

Down 3.8%

Down 0.9%

･European Sales Flat･N. America & Asia; Sales lower

3,073 3,089 3,063,

1,5002,0002,5003,0003,500

0500

1,0001,500

FY2016 FY2017 FY2018 FY2016 FY2017 FY2018

1,055 1,088 1,0801,200ACJConsolidated



736 723 735877

687 702779

919

676739 721

926922 922 9181,055

882 890 889822 873 833

400

600

800

1,000

0

200

400

FY20161Q

2Q 3Q 4Q FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q

11

Parking Systems※ Domesti※ Domesticc（（ACJACJ））Sales Down, Overseas UpSales Down, Overseas Up

ー ACJ ーー Consolidated ー･Large-scale Projects Declined･Firm Orders from Management Service Projects

※ Domesti※ Domesticc（（ACJACJ））Sales Down, Overseas UpSales Down, Overseas Up【Sales（YOY）】

･Sales for Bicycle Parking Systems and Security GateSystems declined

･Firm commissioned management service business（In million yen）

58,402 60,757 63,879

60,000

70,000

Up 5.1%

･Asian Sales Higher (Korea, Hong Kong and Malaysia were Strong)

･N. America; Amano McGann Inc; 30,185 30,255 30,059

30,000

40,000

50,000

60,000

Down 0.6%

Sales growth attributable to acquisition, profitabilityis on the way to recovery

0

10,000

20,000

FY2016 FY2017 FY2018 FY2016 FY2017 FY2018

17 407 18,33320,000 ACJ



6,3257,585 6,738

9,535

6,383 7,361 7,5118,999

6,4377,576 6,782

9,263

12,75114,53114,338

16,780

13,37114,58315,394

17,407

13,93115,833 15,780

,

8,00010,00012,00014,00016,00018,000

,Consolidated

,

02,0004,0006,000,

FY20161Q

2Q 3Q 4Q FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q12

Environmental Systems※※ Increased Domestic & Overseas SalesIncreased Domestic & Overseas Sales

ー ACJ ーー Consolidated ー･Firm Orders for Standard Dust CollectorsL l S t S l Hi h

※ ※ Increased Domestic & Overseas SalesIncreased Domestic & Overseas Sales【Sales（YOY）】

21,712 21,99323,83325,000

30,000Up 8.4%

Up 7.0%

･Large-scale System Sales Higher（In million yen）

19,124 18,635 19,931,

10,000

15,000

20,000

･Asian Sales Higher (driven by China, Thailand and Philippines)M i S l D li d

0

5,000

FY2016 FY2017 FY2018 FY2016 FY2017 FY2018

･Mexican Sales Declined

6 369 6 580

7,701

7 0008,000 ACJ

Consolidated



3,890

5,114 4,6215,498

3,9894,881

4,247

5,516

4,0274,846 4,721

6,335

4,345

5,7085,289

6,369

4,5955,616 5,200

6,580

4,7075,759 5,666

3,0004,0005,0006,0007,000 Consolidated

01,0002,000

FY20161Q

2Q 3Q 4Q FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q

13

Clean Systems※※ Domestic Sales Up, Overseas DownDomestic Sales Up, Overseas Down

ー ACJ ーー Consolidated ー･Higher Sales for "EG series" Scrubbers ･Strong Orders for New Cordless Polisher

※ ※ Domestic Sales Up, Overseas DownDomestic Sales Up, Overseas Down【Sales（YOY）】

11,401 11,143 11,21312,000

Up 0.6%

Strong Orders for New Cordless Polisher･Increased Carpet Cleaner Sales･The new robotic scrubber “EGrobo” is well-received


4,718 4,618 4,710

,

6,000

8,000

10,000

12,000

Up 2.0% ･N. America;Wooden Floor Sanding Business remains FirmSales for Cleaning Equipment & Chemicals Declined

0

2,000

4,000

FY2016 FY2017 FY2018 FY2016 FY2017 FY2018

Sales for Cleaning Equipment & Chemicals Declined

3 500ACJConsolidated



1,035 1,145 1,172 1,3641,057 1,147 1,139 1,274 1,100 1,131 1,202 1,276

2,7512,964 2,859 2,825 2,809 2,950 2,756 2,627 2,620

3,2082,701 2,682

1 0001,5002,0002,5003,0003,500 Consolidated

0500

1,000

FY20161Q

2Q 3Q 4Q FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q

14

Performance of Group Companies

(In million yen)FY2018 1Q FY2018 2Q FY 2018FY2018 4QFY2018 3Q FY2017

Y Y Ch

* * Performance by regionPerformance by region*The business year ending for all overseas units is December.

Sales Sales Sales Sales Sales Sales

% % % % % % % %N. America 3,748 (564) (15.1) 5,050 (121) (2.4) 4,644 (246) (5.3) 4,866 (201) (4.1) 18,308 (1,132) (6.2) 18,085 (102) (0.6) 223 1.2 (1,029)

Europe 2,439 212 8.7 2,170 101 4.8 2,025 123 6.1 2,397 282 11.8 9,031 718 8.0 8,432 695 8.2 598 7.1 22 3.2

Operating profit Operating profit

Q(Jan - Mar, 2018)

Q(Apr - Jun, 2018) (Jan - Dec, 2018)

Operating profit

Q(Oct - Dec, 2018)

Operating profit

Q(Jul - Sep, 2018)

Operating profit

(Jan - Dec, 2017) Year on Year Change

Operating profit Sales Operating profit

－

pAsia 3,752 385 10.3 4,007 297 7.4 4,636 408 8.8 5,391 384 7.1 17,786 1,474 8.3 14,494 1,180 8.1 3,292 22.7 293 24.9

Overseasgroup companies

9,941 33 0.3 11,225 277 2.5 11,305 285 2.5 12,654 465 3.7 45,125 1,060 2.3 41,011 1,773 4.3 4,114 10.0 (713) (40.2)

* FX Rates (Quarterly Average): US＄ 107.50 US＄ 109.53 US＄ 111.88 US＄ 112.56 US＄ 110.37 US＄ 112.04EUR 132.33 EUR 128.98 EUR 130.52 EUR 128.17 EUR 130.00 EUR 127.19

(I illi )

EUR 132.33 EUR 128.98 EUR 130.52 EUR 128.17 EUR 130.00 EUR 127.19

* Goodwill Amortization:N.America 43million N.America 59million N.America 60million N.America 61million N.America 225million N.America 197millionEurope 81million Europe 79million Europe 80million Europe 78million Europe 320million Europe 313million

(In million yen)

Sales Sales Sales Sales Sales Sales

% % % % % % % %Domestic

Operating profit Operating profit Operating profit

FY2018 1Q(Apr - Jun, 2018)

FY2018 2Q(Jul - Sep, 2018)

FY 2018(Apr,2018 - Mar, 2019)

FY2018 3Q(Oct - Dec, 2018)

FY2018 4Q(Jan - Mar, 2019)

FY 2017(Apr,2017 - Mar, 2018)

Year on Year Change

Operating profit Operating profit Operating profit Operating profit Sales

DomesticGroup companies

Total5,347 594 11.1 5,384 769 14.3 5,503 771 14.0 5,649 848 15.0 21,885 2,983 13.6 22,056 2,711 12.3 (171) (0.8) 271 10.0

15

Consolidated Balance Sheet

(In million yen)

FY2018 FY2017 ChangeCONSOLIDATED B/S 19.3.31 18.3.31Assets 147,609 145,439 2,169

Cash & Bank Deposits 45,558 44,525 1,033Notes and accounts receivable - trade 35,367 33,632 1,734

ChangeCONSOLIDATED B/S

Notes and accounts receivable trade 35,367 33,632 1,734Inventories 10,184 9,729 455Othe Current Assets 4,338 4,177 160Fixed Assets 52,160 53,374 (1,214)

Liabilities 41,017 39,805 1,211Notes and accounts payable - trade 14,279 13,488 790Other Current Liabilities 21,290 20,881 408Other Fixed Liabilities 5 447 5 434 12Other Fixed Liabilities 5,447 5,434 12

Net Assets 106,592 105,634 957Shareholder's Equity 109,178 106,780 2,397Total accumulated other comprehensive income (3,216) (1,689) (1,527)

630 543 87Total Liabilities & Net Assets 147,609 145,439 2,169Non-Controlling shareholder's interests

16

Consolidated Statements of Cash Flows

(In million yen)FY2018 FY201719.3.31 18.3.31

CF from Operating Activities 15,719 16,750 (1,031)

ChangeConsilidated Cash Flows (CF)

p g , , ( , )CF from Investing Activities (6,133) (6,500) 366FCF 9,585 10,250 (664)CF from Financial Activities (6,800) (5,392) (1,408)( , ) ( , ) ( , )Net Increase (decrease) in Cash & Equivalents 2,255 4,961 (2,705)Cash and cash equivalents at end of period 42,487 40,231 2,255

CAPEX（tangible fixed asset） 2,751 3,099 (348)CAPEX（intangible asset） 715 642 72Depreciation 3,833 3,593 240p , ,

17

CAPEX & Depreciation(In million yen)

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019Plan

Consolidated CAPEX［tangible fixed asset］ 3,284 2,545 2,787 3,101 3,099 2,751 3,109Consolidated CAPEX［intangible asset］ ― 4,297 3,858 615 642 715 888

Consolidated Total ― 6,842 6,645 3,717 3,742 3,468 3,998Consolidated Total 6,842 6,645 3,717 3,742 3,468 3,998ACJ CAPEX［tangible fixed asset］ 729 721 1,083 1,426 1,112 924 1,346ACJ CAPEX［intangible asset］ ― 1,450 3,058 309 323 251 375

Unconsolidated Total ― 2,171 4,142 1,736 1,435 1,175 1,721

Depreciation (Consolidated) 3,711 4,137 4,415 3,549 3,593 3,833 3,878


The CAPEX and Depreciation figures after FY2016, does not include software for sale and M&As. Note:

Depreciation (Consolidated) 3,711 4,137 4,415 3,549 3,593 3,833 3,878Depreciation (ACJ) 1,753 1,921 2,047 1,255 1,327 1,273 1,420

3,7114,137

4,415

3,549 3,5933,833 3,878

4,297

3,8584,000

4,500

5,000（In million yen）

,

1 753 1,921 2,047

3,284

2,5452,787

3,101 3,0992,751

3,1093,058

2,000

2,500

3,000

3,500

Depreciation (Consolidated)

Depreciation (ACJ) 1,753 ,

1,2551,327 1,273

1,420

729 7211,083

1,426

1,112924 1,346

615642 715 888

1,450

309500

1,000

1,500

2,000p ( )

Consolidated CAPEX［tangible fixed asset］

ACJ CAPEX［tangible fixed asset］

Consolidated CAPEX［intangible asset］

［］ 309 323 251 3750

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019Plan

ACJ CAPEX［intangible asset］

18

The The 7th 7th MediumMedium--Term Business PlanTerm Business Plan((FY2017FY2017--FY2019)FY2019)

19

Roadmap of the Medium-term Business Plan

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

4th medium-term plan 5th medium-term plan 6th medium-term plan 7th Medium-term Plan

2nd Stage Towards a 100 year Companyt ed u te p a

FY2013

Sales: over ¥103Bn

Operating Profit: over ¥10Bn

FY2010

Net Sales: over ¥114Bn

Ordinary Profit: over ¥12 7Bn

Global Growth Strategy To become a 100-year CompanyChallenge to a New Stage

FY2016

Sales: over ¥130Bn


2nd Stage Towards a 100-year CompanyQuantum Leap

FY2019

Sales: over ¥140Bn


Global Niche TopEstablishing new businesses

Re-building prof it structure & strengthening global

strategy

Ordinary Profit: over ¥12.7Bn

Expand Corporate Scale & Establish Growth Drivers

Innovative Creation of Value for Sustainable Growth

30 000160 0005ｔｈ medium-term plan

6ｔｈ medium-term plan7ｔｈ Medium-term Plan

(In Million Yen)(In Million Yen)

Original Plan Revised Plan

91 812102,131

109,837 119,506 120,124 124,405

131,713 142,000

15 161 16,00020,000

25,000

30,000

100 000

120,000

140,000

160,000 4th medium-term plan138,000138,000

16,50016,50091,812

78,586 83,302 88,146 90,295

5,371 4,383 5,917 7,329

8,826 9,357

12,942 13,165 14,350 15,161 16,000

5 000

10,000

15,000

60,000

80,000

100,000

1,927

0

5,000

20,000

40,000

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019Plan 20

Business Concept

The 7th Medium-Term Business Plan Concept (Apr. 2017- Mar. 2020)The 7th Medium-Term Business Plan Concept (Apr. 2017- Mar. 2020)

21

The 7th Medium-Term Business Plan the theme, “Regional growth strategies”

¥7.3Bn ¥8.4Bn ¥9.0Bn ¥18.8Bn ¥18.0Bn ¥18.3Bn

FY2016 FY2017 FY2018 FY2016 FY2017 FY2018

ACJ +Domestic Group( )

¥12.0Bn ¥14.5Bn ¥17.8Bn¥92.7Bn ¥93.9Bn ¥96.8Bn

Clean SystemsClean SystemsEnvironmental SystemsEnvironmental SystemsParking SystemsParking SystemsTime Management ProductsTime Management ProductsInformation SystemsInformation Systems

22

FY2016 FY2017 FY2018 FY2016 FY2017 FY2018

＜ Consolidated ＞

Numerical Targets for FY2017-FY2019

(In million yen)

Change% Change% Change%FY2017 Result FY2018 Result MTBP FY2019 Plan FY2019 Revised Plan

Amount Amount Amount Amount

◆ Business Plan

% % %Sales 124,405 3.6 131,713 5.9 142,000 138,000 4.8Operating profit 14,350 9.0 15,161 5.7 16,000 16,500 8.8Operating profit Ratio 11.5% 11.5% 11.3% 12.0%Ordinary profit 15,060 9.1 16,090 6.8 16,400 16,900 5.0y p , , , ,Net income attributable to owners ofthe parent company 10,019 8.6 9,142 (8.8) 10,800 11,000 20.3

(*)MTBP : Medium-Term Business Plan

(In million yen)

Amount % Change% Amount % Change% Amount Change% Amount % Change%% % % % % %

FY2017 Result FY2018 Result MTBP FY2019 Plan FY2019 Revised Plan◆Sales Plan

Information Systems 26,759 21.5 7.9 29,176 22.2 9.0 32,000 22.5 31,500 22.8 8.0Time Management Products 3,751 3.0 (1.7) 3,609 2.7 (3.8) 3,300 2.3 3,500 2.5 (3.0)Parking Systems 60,757 48.8 4.0 63,879 48.5 5.1 68,000 47.9 67,500 48.9 5.7Total: Time Information Segment 91,268 73.3 4.9 96,665 73.4 5.9 103,300 72.7 102,500 74.2 6.0Environmental Systems 21,993 17.7 1.3 23,833 18.1 8.4 25,200 17.8 24,100 17.5 1.1Clean Systems 11,143 9.0 (2.3) 11,213 8.5 0.6 13,500 9.5 11,400 8.3 1.7Total: Environmental Segment 33,136 26.7 0.1 35,047 26.6 5.8 38,700 27.3 35,500 25.8 1.3Grand total 124,405 100.0 3.6 131,713 100.0 5.9 142,000 100.0 138,000 100.0 4.8

FX Conversion Rates: 　US$ 112.04 　US$ 110.37 　US$ 105.00 　US$ 105.00　EUR 127.19 EUR 130.00 EUR 114.00 EUR 125.00

23

Shareholder Return Policy

Di id d P li S bl di id d f i i・Consolidated Dividend Payout Ratio: Target above 40.0% ・Net Asset Payout Ratio: Target above 2.5%

◎ Dividend Policy Stable dividends + performance incentives

・Total Return Ratio : Target above 55.0%NEW

80.0 （％）

5.7 6.0

90 0

100.0Year-end dividend（yen）Interim dividend（yen）

<Dividend per Share and Consolidated Net Asset Payout Ratio >＜Consolidated Dividend Payout Ratio and Total Return Ratio ＞

43 4 43 7 3 3

65.9

43 750.0

60.0

70.0

Total Return Ratio 55.0 55.0

57 0

80.0

64.03.9 4.1 4.2 4.4

4.0

5.0

70.0

80.0

90.0 Net Asset Payout Ratio（%）

Special dividends

20.043.4 42.8 43.7 43.0 43.3 43.7

30.0

40.0

Normal dividends49.5

28 029.0

34.036.0

30 038.0

48.052.0

57.02.9

3.3

2 0

3.0

40.0

50.0

60.0

Normal dividends

35.0

20.0 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

Forcast

13 0 15.0 20.0 23.0 23.0 25.0 28.0

17.023.0

28.030.0

1.0

2.0

10.0

20.0

30.0

25.013.0 15.0

0.00.0FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

Forcast★ The acquisition of treasury stock・ Acquisition period ： From October 2018 to March 2019

24

・ Total number of acquired stocks・ Total amount of acquired stocks

： 1 Million： 2,326 Mill ion yen

Business Plan for FY2019Business Plan for FY2019Business Plan for FY2019Business Plan for FY2019

25

FY2019 Plan: Consolidated & Unconsolidated ACJ

●Consolidated (In million yen)

Amount (%) Change(%) Amount (%) Change(%) Amount (%) Amount (%)% % % % % %

FY2019 PlanFull Year 1st Half Full Year 1st Half

FY2018 Result

% % % % % %Net sales 138,000 100.0 4.8 63,500 100.0 4.1 131,713 100.0 61,008 100.0Gross profit 61,000 44.2 4.7 28,200 44.4 4.3 58,246 44.2 27,036 44.3SG&A 44,500 32.2 3.3 22,200 35.0 3.1 43,084 32.7 21,533 35.3Operating profit 16 500 12 0 8 8 6 000 9 4 9 0 15 161 11 5 5 502 9 0Operating profit 16,500 12.0 8.8 6,000 9.4 9.0 15,161 11.5 5,502 9.0Ordinary profit 16,900 12.2 5.0 6,500 10.2 9.7 16,090 12.2 5,924 9.7Net income attributable to ownersof the parent company 11,000 8.0 20.3 4,000 6.3 4.5 9,142 6.9 3,828 6.3

●ACJ (In million yen)

1st HalfFY2018 Result

Full Year 1st HalfFY2019 Plan

Full YearAmount (%) Change(%) Amount (%) Change(%) Amount (%) Amount (%)

% % % % % %Net sales 77,000 100.0 2.9 34,800 100.0 2.7 74,796 100.0 33,885 100.0Gross profit 33,100 43.0 2.7 14,700 42.2 2.7 32,222 43.1 14,317 42.3

1st Half Full Year 1st HalfFull Year

p , , , ,SG&A 21,600 28.1 2.5 10,800 31.0 3.0 21,066 28.2 10,487 31.0Operating profit 11,500 14.9 3.1 3,900 11.2 1.8 11,155 14.9 3,830 11.3Ordinary profit 13,500 17.5 2.2 5,200 14.9 0.7 13,210 17.7 5,165 15.2Net Income 9,500 12.3 (3.3) 3,800 10.9 2.7 9,827 13.1 3,699 10.9

26

, ( ) , , ,

FY2019: Sales Plan by Business Division●Consolidated (In million yen)●Consolidated (In million yen)

Amount % Amount % Amount % Amount %% % % % %

Business divisionPlan FY2019

Year ending March 31, 2020ResultFY2018

Change

Plan1st half

Plan2nd half

% % % % %Information Systems 31,500 22.8 2,323 8.0 14,300 22.5 17,200 23.1 29,176 22.2Time Management Products 3,500 2.5 (109) (3.0) 1,600 2.5 1,900 2.6 3,609 2.7Parking Systems 67,500 48.9 3,620 5.7 31,200 49.2 36,300 48.7 63,879 48.5Total: Time Information Segment 102,500 74.2 5,834 6.0 47,100 74.2 55,400 74.4 96,665 73.4Environmental Systems 24,100 17.5 266 1.1 10,500 16.5 13,600 18.2 23,833 18.1Clean Systems 11,400 8.3 186 1.7 5,900 9.3 5,500 7.4 11,213 8.5

Total: Environmental Segment 35,500 25.8 452 1.3 16,400 25.8 19,100 25.6 35,047 26.6Grand total 138,000 100.0 6,286 4.8 63,500 100.0 74,500 100.0 131,713 100.0

●ACJ (In million yen)

Business divisionPlan FY2019

Year ending March 31 2020ResultFY2018

Plan1st half

Plan2nd half

Amount % Amount % Amount % Amount %% % % % %

Information Systems 18,500 24.0 1,467 8.6 8,000 23.0 10,500 24.9 17,032 22.8Time Management Products 3,100 4.0 36 1.2 1,400 4.0 1,700 4.0 3,063 4.1

Business division Year ending March 31, 2020 FY2018Change

1st half 2nd half

Time Management Products 3,100 4.0 36 1.2 1,400 4.0 1,700 4.0 3,063 4.1Parking Systems 30,400 39.5 340 1.1 14,100 40.5 16,300 38.6 30,059 40.2Total: Time Information Segment 52,000 67.5 1,845 3.7 23,500 67.5 28,500 67.5 50,154 67.1Environmental Systems 20,100 26.1 168 0.8 9,000 25.9 11,100 26.3 19,931 26.6Clean Systems 4,900 6.4 189 4.0 2,300 6.6 2,600 6.2 4,710 6.3

27

Total: Environmental Segment 25,000 32.5 357 1.5 11,300 32.5 13,700 32.5 24,642 32.9Grand total 77,000 100.0 2,203 2.9 34,800 100.0 42,200 100.0 74,796 100.0

HR Solution VendorHR Solution VendorThe 7th Medium term Business PlanThe 7th Medium term Business Plan

Information Systems: Action Plan

HR Solution VendorHR Solution VendorThe ENFORCEMENT of Work Style Reform and related Acts･MH(Middle High) market;

Promote VG+ZeeM packaged salesCollaborate with CREOP H i & Cl d B d S l i （VG Cl d）

Medium-term Business PlanBrand Strategy by BusinessMedium-term Business PlanBrand Strategy by Business

Promote Hosting & Cloud Based Solutions（VG Cloud）･ML(Middle Low) market;

Strengthen proposals of NX(T&A / Payroll)Expand proposals utilizing Web and Hosting

･Developing public markets


･Strengthen Terminal Business

･N. America; Accu-Time Systems Inc. Expand cloud services, strengthen terminal proposals

･Europe; Horoquartz S A Expand customer baseUp 8.0% ･Europe; Horoquartz, S.A. Expand customer basePromote 3-in-1 proposals which includes T&A, Access and Cards

TopicsTopics23 558

25,512 24,78926,759

29,17631,500

25 000

30,000

35,0002nd Half1st Half

p

e-AMANO Personnel notification service

12,80813,724 13,087

14,49815,925

17,20023,558 24,789

15,000

20,000

25,000 Providing the personnel notification workflow necessary for the various social insurance notifications as a cloud service. Improved work efficiency and utilization of personnel information

10,750 11,788 11,702 12,261 13,251 14,3005,000

10,000

,

28

0FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

Plan

Time Management Products : Action PlanThe 7th Medium term Business PlanThe 7th Medium term Business Plan HR Solution VendorHR Solution Vendor

･Uncovering new demand from the basic time recorder marketStrengthen online store and sales over the internet

Medium-term Business PlanBrand Strategy by BusinessMedium-term Business PlanBrand Strategy by Business HR Solution VendorHR Solution Vendor

･Expand TimeP@CK salesEnhancing charged member services

6,0002nd Half


･N. America; Restructure Sales Channels & Deploy Online Sales

･Europe; Establish sales network, deploy online sales

4,100 4,1653,818 3 7514,000

5,000

2nd Half1st Half

Dn 3.0% TopicsTopics Introductory model for Time Cards & IC CardsThe TimeP@CK Series

Selectable time recorders

2,143 2,1501,974 1,978 1,913 1,900

, 3,751 3,609 3,500

3,000

4,000 Selectable time recordersto suit your operations ＋

1,957 2,015 1,844 1,773 1,696 1,6001,000

2,000

TimeP@CK ClubInitial installation

supportInquiry priority

responseAssured support

during changes of persons in charge

Dedicated service to ensure worry-free purchase and carefree use after purchase

Assurance at the time of adoption

T&A softwareStandard model High-performace model IC card model

0FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

Plan

29

support response persons in chargeLatest software provided free of

charge

In case of malfunction, a substitute unit will be

provided free of charge

Call us if you have concerns over labor

issues

time of adoption

Assurance for long-time use

ParkingParking Total Solution VendorTotal Solution Vendor

Parking Systems: Action PlanThe 7th Medium term Business PlanThe 7th Medium term Business Plan

･Closer ties with major operators･Medium small operators

Parking Data Center; Enhance Services

Parking Parking Total Solution VendorTotal Solution VendorMedium-term Business PlanBrand Strategy by BusinessMedium-term Business PlanBrand Strategy by Business

g ;･Management services; Expand holistic solutions

Promote Packaged Installation of Car & Bicycle Parking･Expand new markets

Bicycle parking , security gates, toll roads・ New product launch

Up 5 7%（In million yen）

New product launch

･Strengthening group collaboration･N.America; Re-estabishing the sales regime and

management controls･Europe; Reinforce Sales Organization and Management

55 784 58,402 60,75763,879

67,500

60 000

70,000


Up 5.7%

E h d d d t t f ti

･Europe; Reinforce Sales Organization and Management Service Business

･Asia; Expand Management service business

TopicsTopics

28,26630,306 31,119 32,802 34,114 36,300

51,81755,784 58,402

40,000

50,000

60,000 Enhance and expand data center functions

Promote business development based on parking data center!

TopicsTopics

23,551 25,478 27,283 27,955 29,765 31,20010,000

20,000

30,000

0

,

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019Plan 30

M2M Partial Solution VendorM2M Partial Solution Vendor

Environmental Systems: Action PlanThe 7th Medium term Business PlanThe 7th Medium term Business Plan

･Increase global project orders initiated domestically･Strengthen proposals for standard dust collectors･Expand holistic sales by including peripheral devices

M2M Partial Solution VendorM2M Partial Solution VendorMedium-term Business PlanBrand Strategy by BusinessMedium-term Business PlanBrand Strategy by Business

･Expand holistic sales by including peripheral devicesPowder Conveying & Deodorizing Equipment

･ Developing new sales channels


・North & Central America;Expand standard equipment sales to the auto industryDevelop new markets

・Asia; Reinforce sales and engineeringD l h Chi d Vi k

TopicsTopics Enhancing the product line for standard dust collectors

Develop the Chinese and Vietnamese markets

20 63921,830 21,712 21,993

23,833 24,10025,000


Up 1.1%

for standard dust collectors

●Space saving & Large area filter●Inverter as standard equipment●Automatic air volume control

Large dust collector "PiF Series"

11,90711,981 11,659 11,781 13,367 13,600

20,639,

15,000

20,000

Dust explosion pressure diffusion type medium size dust collectors

"PiF D series"Kst value 300

compliant

●Explosion dissipating port & Check valve8,732 9,849 10,053 10,212 10,466 10,5005,000

10,000

31

●Explosion dissipating port & Check valve●Space saving & Large area filter●Inverter as standard equipment●Automatic air volume control

0FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

Plan

Robotics Solution Vendor

Clean Systems: Action PlanThe 7th Medium term Business PlanThe 7th Medium term Business Plan

･Develop markets for robotic cleaners ･Promote the Sales of Auto Floor Scrubber "EG Series"･Expand sales of compact cordless polishers

Robotics Solution VendorMedium-term Business PlanBrand Strategy by BusinessMedium-term Business PlanBrand Strategy by Business

Expand sales of compact cordless polishers･Strengthen Holistic Cleanliness Proposals

Total Solutions; Hard & Software, Maintenance and Services

･Mining the factory market


・N. America; Strengthen business foundationExpand the wooden floor sanding business

9 720

12,21311,401 11,143 11,213 11,400

10 000

12,000

14,000 2nd Half1st Half

Up 1.7%

TopicsTopics

y

Promote Comprehensive solutions

Systemization and digitization of Cleaning equipment & supplies plus commissioned cleaning services

5,328

6,494 5,685 5,384 5,384 5,500

9,720

6,000

8,000

10,000 & supplies plus commissioned cleaning services

Management ServiceOperational control

Cleaning equipment & supplies Cleaning operations control service

+Vacuum Cleaners / Sweepers,Cleaning robots, Scrubbers / Polishers,Carpet cleaners Buffing machines

4,3925,719 5,716 5,759 5,829 5,900

2,000

4,000Offer cleaning work solutions that correspond to

"manpower shortage" and "work reform"

Robotic Auto Floor

+Carpet cleaners, Buffing machines,Cleaning Supplies

0FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

Plan32

「EGrobo」「EG Series」

RoboticFloor Scrubber

Auto Floor Scrubber

Sales & Operating Profit Plans by Segment(In million yen)

Sales Sales% % % %

Time Information Segment 102,500 15,200 14.8 96,665 13,590 14.1 5,834 6.0 1,609 11.8Environmental Segment 35 500 5 500 15 5 35 047 5 621 16 0 452 1 3 (121) (2 2)

Operating profit Operating profit Sales Operating profitFY2019 Plan FY2018 Result Change

【Sales】【Operating profit】

Environmental Segment 35,500 5,500 15.5 35,047 5,621 16.0 452 1.3 (121) (2.2)Company-wide Expenses 0 (4,200) 0.0 0 (4,049) 0.0 0 0.0 (150)

Total 138,000 16,500 12.0 131,713 15,161 11.5 6,286 4.8 1,338 8.8

5 50015,161 16,500

20,000

25,000

Company‐wide Expenses

Total: Environmental Segment

96,665102,500

100,000

120,000

【Sales】（In million yen）（In million yen）

【Operating profit】 ●Time Information Segment Change Up 6.0％

13,590 15,200

5,621 5,500

0

5,000

10,000

15,000 Total: Environmental Segment

Total: Time Information Segment

29,176 31,500

3,609 3,500

63,879 67,500

20,000

40,000

60,000

80,000

Parking Systems

Time Management ProductsInformation Systems

(4,049) (4,200)(5,000)

0

FY2018Result

FY2019Plan

29,176 3 ,5000

FY2018Result

FY2019Plan

Information Systems

Company wide expenses


●Environmental Segment Change Up 1.3％

23 833 24 100

11,213 11,400

35,047 35,500

20,000

30,000

40,000

Clean Systems

（ o ye ）

※ Operating Profit Change Up 8.8％●Time Information Segment Change Up 11.8％●Environmental Segment Change Dn 2.2％

23,833 24,100

0

10,000

FY2018Result

FY2019Plan


33

Quarterly Sales by Item (actual results)

4 000

6,000

8,000

Standard unitLarge systems

<Information Systems> <Environmental Systems>

HardwareSoftware

0

2,000

4,000

FY2017 2Q 3Q 4Q FY2018 2Q 3Q 4Q

Maintenance & suppliesDifferenceTotal

FY2017 2Q 3Q 4Q FY2018 2Q 3Q 4Q

Maintenance & suppliesDifferenceTotal

1Q 1Q

4,000< Time Management Products > < Clean Systems>

FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q

1,000

2,000

3,000 Cleaning equipment

Maintenance & supplies

DifferenceTotal

Time recorders, stampsMaintenance & suppliesDifferenceTotal

0FY2017

1Q2Q 3Q 4Q FY2018

1Q2Q 3Q 4Q

<Parking Systems>

FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q

System & MerchandiseMaintenance & suppliesDifference

34

FY20171Q

2Q 3Q 4Q FY20181Q

2Q 3Q 4Q

Total

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