Second Quarter Financial Resultsfor FY2019
October 31, 2019

Securities Code: 6455
https://www.morita119.com/en© 2019 MORITA HOLDINGS CORPORATION

Consolidated Performance (2Q)
bil. JPY40

Net sales
-1%

30

29.6

20

21.9

27.5

31.9

31.7

bil. JPY
2.0

0

0.0'16'17'18

bil. JPY60

Order Intake

40

49.7

48.0

54.9

'19
-6%
51.5

38.6

'16'17'18

45.6

46.8

'16

'17

0'18'15

1.1

40

0'17

1.0

Order Backlog

20'16

1.4

bil. JPY
60

20'15

1.5

1.0
0.5

+30%

1.9

1.5

10'15

Operating Income'19'19-6%

51.4

48.2'181931.4'15•

Net sales decreased by 1% YoY•

Operating income increased by 30％ YoY•

Order intake decreased by 6% YoY, and order backlog decreased by 6%⁃

While net sales increased in FFV business, RM business, and ECV business, it decreased in FPES business⁃

FFV business and ECV business contributed to the increased operating income⁃

Partly due to the decrease in order intake in FFV business* FFV: Fire Fighting Vehicles*FPES: Fire Protection Equipment & Systems *RM: Recycling Machines *ECV: Environmental Conservation Vehicles© 2019 MORITA HOLDINGS CORPORATION
2Performance Composition by Quarter
Net Salesbil. JPY

1Q

100

2Q

3Q

4Q
91.5

90

85.1

85.5

70
60
50

88.0352(41%)

20
100

35.2(41%)

4Q
9.5

7.5

4.4(46%)
4.8(56%)

3.0(40%)20.5(30%)

22.7(27%)22.2(24%)4
3

19.8(22%)20.4(23%)

10.7(12%)12.1(13%)

11.3(13%)'17'18'19

18.6(22%)16.8(20%)8.3(12%)11.0(13%)'15'16

3.0(40%)3.4(35%)2.8(33%)2
10-1

1.5(19%)2.1(21%)

9.247.6(56%)

5.6(59%)7.8(85%)523.2(27%)

13.6(20%)

63Q

8.5

9756.3(64%)

2Q

9.6

10837.3(41%)

26.2(39%)4030

32.2(38%)

1Q

1180
68.6

Operating Incomebil. JPY

2.8(29%)1.3(15%)

1.6(17%)

1.7(19%)0.03(0%)-0.2(-2%)

-0.3
(-4%)

-0.6(-6%)-0.3(-3%)'15'16'17'18'19© 2019 MORITA HOLDINGS CORPORATION

3

Outlook for Segment Performance (Full year)
Net Salesbil. JPY

2018A

60
54.6
40-7%
51.0+0%

20

21.6

10.6

ECVRMFPES10.6

Operating Incomebil. JPY

2018A84

4.8

4.7

FFV+0%+1%

21.7062019E

2019E-6%
6.3

5.9+2%22.1

2.20FFVFPES+5%0.38

0.40

RM+2%0.78

0.80

ECV

© 2019 MORITA HOLDINGS CORPORATION

4

Fire Fighting Vehicles (2Q)
bil. JPY
20

Net Sales

15

15.3

10

13.7

+7%
15.0

15.9

0'15

bil. JPY
50'17

40
38.720'18

Order Intake

30

1.2

0.4'1636.5

41.8'19

-4%
40.2

0.0

00'18'19

0.6
0.1'16'17'18'19

Order Backlog-9%30
10'170.60.4'15+277%

4010'16

1.0bil. JPY
5020

25.7'15

Operating Income

0.8

7.75bil. JPY
1.636.8

35.6'16'17

39.9

36.4

21.2'15'18•

Net sales increased by 7% YoY•

Operating income increased 3.8 times YoY•

Order intake decreased by 4% YoY, and order backlog decreased by 9%'19⁃

Due to the steady increase in overseas sales primarily in Asia⁃

Due to the normalization of delay in issuing import license in China and absence of cost for trade show
occurred in the previous year⁃

Due to the changes in domestic product mix© 2019 MORITA HOLDINGS CORPORATION

5Fire Protection Equipment & Systems (2Q)
bil. JPY
108Net Sales
9.8
7.8

6

7.5

-18%
8.0

7.3

bil. JPY
1.0
0.8
0.6

4

0.4

2

0.2

0

0.0'15bil. JPY
54'16'18'19

Order Intake
4.4

4.2

3'17

4.7

3.1

2

-27%

4

3.4

3
2
1

00'16

'17'18

'19

0.5

0.5
0.3
'15

bil. JPY
51'15

Operating Income

'16

0.2

0.1
'17'18Order Backlog
4.3
2.6

2.6'15'16'17'19-2%

4.04.0'18'19•

Net sales decreased by 18% YoY•

Operating income decreased by 56% YoY•

Order intake decreased by 27% YoY, and order backlog decreased by 2%

⁃

-56%

While sales of fire extinguisher were solid, SPRINEX decreased due to the delay in grant of government
subsidies⁃

In accordance with the decrease in sales of SPRINEX⁃SPRINEX decreased due to the impact of delay in grant of government subsidies© 2019 MORITA HOLDINGS CORPORATION

6

Recycling Machines (2Q)
bil. JPY
3.0Net Sales

2.0

2.4
1.71.01.8+11%bil. JPY
0.3

2.6

0.2
0.1

1.6

0.0

0.0'15bil. JPY
5'16'17'18'19

Order Intake

-0.1

4
3.52

2.3

10'15'16

2.0'17

2.5

+4%

3

2.6

2'18'19

0.2

0.2

'18

'19

-0.01
'15'16'17

Order backlog
4.2+12%
2.1

10-4%

0.02

0.1

bil. JPY
543

Operating Income'15'16

2.3

2.5'17'18•Net sales increased by 11% YoY•

Operating income decreased by 4 % YoY•

Order intake increased by 4% YoY, and order backlog increased by 12%⁃

While maintenance and services decreased, sales of products increased steadily⁃Due to the change in composition of products, maintenance and service⁃Maintenance and service increased steadily

2.9'19© 2019 MORITA HOLDINGS CORPORATION

7

Environmental Conservation Vehicles (2Q)
bil. JPY
6Net Sales

4

4.7

4.9

4.9

+6%
4.8

5.1

bil. JPY
0.6
0.4

2

0.2

0

0.0'15bil. JPY
8'16'17'18'19

Oder Intake
5.2

4

5.7

5.1

5.9

5.3

'15

'16'17'18

'19

00.6

+59%
0.4'15'160.20.3'17'18Order Backlog

42200.5bil. JPY
6-9%

6Operating Income

3.4'15

4.1'16

4.5'17-0%

5.0

5.0'18'19•

Net sales increased by 6% YoY•

Operating income increased by 59% YoY•

Order intake decreased by 9% YoY, and order backlog decreased slightly⁃'19

Sales of products increased steadily since order backlog at the beginning of the period was higher than theprevious years due to the rush demand before the model change of chassis⁃In accordance with increase in sales⁃Due to the reactionary decrease in rush demand occurred in the previous year

© 2019 MORITA HOLDINGS CORPORATION

8This document contains forward-looking statements. Where any such forward-looking statement
includes a statement of the assumptions, bases underlying such a forward-looking statement, oreconomic environment in the primary markets and fluctuations of demand and supply, Morita
Holdings cautions that assumed facts for bases almost always vary from the actual results, anddifferences between assumed facts or bases and actual results can be material, depending upon thecircumstances. Where, in any forward-looking statement, Morita Holdings or its management
expresses an expectation or belief as to future results, there can be no guaranty or assurance thatthe statement of expectation or belief will result or be achieved or accomplished. The words“forecast”, “project”, “believe”, “expect”, “anticipate”, and similar expressions may identify forwardlooking statements.
Taking into account the foregoing, the following are identified as important factors, risks or
uncertainties that cause the actual results to differ materially from those expressed in any forwardlooking statement made by, or on behalf of, Morita Holdings: competitive factors, including and not
limited to, pricing, the implementation of Morita Holdings’ product strategies, and economic trends inimportant markets worldwide.
Morita Holdings assumes no obligation to update its forward-looking statements or to advise of
any changes in the assumptions and factors on which they are based.
© 2019 MORITA HOLDINGS CORPORATION