1st Quarter Financial Results for FYE June, 2015

Transcription

1 1st Quarter Financial Results for FYE June, 2015 November 14, 2014 (Securities code : nd section of the Tokyo Stock Exchange, 2nd section of the Nagoya Stock Exchange)

2 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 1 Net sales 8,247 Mil. Yen (Year-on-year %) ~Medical Division and Device Division, both progress favorably.~ Medical Division ~ addition to firm demands from all area, US and Euro currency appreciation supports the performance with large increase. ~ Japan Overseas Growth of PTCA GW especially due to SION Series Launch and share growth of PTCA GC Hyperion and PTCA Balloon Kamui Falling Reimbursement Prices ( 224 Mil. Yen) Tendency to strong growth shown for PTCA GW in the EU and Middle East Strong growth for the Penetration Catheter Corsair in US, EU, Middle East, and China Device Division ~Manufacturing components capacity increased, including effect of acquisition of Toyoflex group as a wholly owned subsidiary~ Increase of medical components domestically, decrease of medically components overseas Including effect of acquisition of Toyoflex group, growth in automotive and construction markets While R&D expense and Sales expenses increased, positive sales growth contributed to large Operating income performance. Gross profit 5,187 Mil. Yen (YoY %) Operating income 2,063 Mil. Yen (YoY %) Increased R&D expense ( 723Mil. Yen ) (YoY+ 161 Mil. Yen, Sales ratio 8.8 %) Increased Sales related expenses, etc Ordinary income 2,212 Mil. Yen (YoY %) Increased Currency exchange gain ( +144 Mil. Yen ) Net income 1,507 Mil. Yen (YoY+ 17.4%) FYE 6/2015 Main Points Exchange rate 2014/ /06 (Unit : JPY) US$ BAHT 3.10 EURO CNY US$ BAHT 3.28 EURO CNY Total negative goodwill from last year s acquisition of Toyoflex has not occurred in this year, thus affecting decrease of profit earning this year ( 319 Mil. Yen )

3 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 2 Highlight FYE 6/2014 FYE 6/2015 (Mil. Yen) (Mil. Yen) (Mil. Yen) YoY Net sales 6, , , Gross profit 4, , , Operating income Ordinary income 1, , , , Net income 1, , * EPS 40.33yen yen *:As from January 1, 2014, one ordinary share was split into two shares. As such, as to EPS, figures after share splits are shown in assumption of Splits of share at the beginning of previous fiscal year.

4 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 3 Net Sales by Segment Division FYE 6/2014 FYE 6/2015 (Mil. Yen) (Mil. Yen) (Mil. Yen) Medical 5, , , Device , Total amount 6, , , ( Reference ) Medical Field 5, , , Industrial Field ,

5 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 4 Operating Income by Segment Division FYE 6/2014 FYE 6/2015 (Mil. Yen) (Mil. Yen) (Mil. Yen) Medical 1, , Device Subtotal 1, , Erasing & Head quarters Total 1,583-2,

6 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 5 Earnings Performance by Segment Division 9,000 8,000 7,000 6,000 5,000 Net sales Operating income 3,000 8,247 2,500 1,819 1,583 6,201 2,000 Device ,500 Device 2, ,000 3,000 5,298 Medical 6,427 1, ,646 Medical 2,018 2,000 1,000 0 Headquarters /6FY 15/6FY /6FY 15/6FY

7 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 6 3,000 2,500 2,000 1,500 1, Attribution analysis of Operating Income 1 (Exchange rate fluctuations included) 1, /6FY Operating income Positive effect of increase sales +1, Negative effect of decrease Negative effect gross profit rate of increase Sales expenses 182 Negative effect of increase Labor expenses 158 Negative effect of increase Administration expenses Increase in Selling, General and Administrative expenses 637 Increase in R&D expense Increase in Sales related expenses (Japan and Overseas) etc. Influence from acquisition of Toyoflex group as consolidated subsidiary in our group etc Our branded items shows large increase from its market demands in all area. Industrial components increase includes effect of Toyoflex group acquisition 14/6 FY Exchange : US$ BAHT 3.10 EURO /6 FY Exchange : US$ BAHT 3.28 EURO ,063 Negative effect of increase R&D expense 15/6FY Operating income

8 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 7 Attribution analysis of Operating Income 2 (Exchange rate fluctuations excluded) 3,000 2,500 2,000 1,500 Currency exchange influence 1, Positive effect of increase sales +1, Negative effect of decrease gross profit rate Negative effect of increase Sales expenses 129 Negative effect of increase Labor expenses 139 Negative effect of increase Administration expenses Negative effect 170 of increase R&D expense 161 2,063 Increase in Selling, General and Administrative expenses 601 1, /6FY Operating income 14/6 FY Exchange : US$ BAHT 3.10 EURO /6 FY Exchange : US$ BAHT 3.28 EURO /6FY Operating income

9 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 8 Per Segment by Medical Division (by Geography-1) 7,000 6,000 5,000 4,000 3,000 2,000 1,000 5, ,675 6, ,371 1,096 2,890 Other China USA Japan Net sales (YoY) Japan: Cardiovascular and non-cardiovascular segments favorably progressed despite of suffering the influence of the reimbursement price reduction( 224 Mil. Yen). PTCAGW: Volume increases based on SION Series PTCA Balloon Catheter: Increased share due to launch of new product Kamui PTCA Guiding Catheter: : Increased share due to launch of new product Hyperion Penetration Catheter: Started limited launch of new product Caravel Peripheral vascular products: Change to direct sales for Peripheral GW led to EU/ Middle East temporary decrease Abdominal /Neurovascular Products: : Slight increase due to favorable sales figures Overseas : In all area, good market demand shown. US&Euro currency appreciation supports further increase. USA: PTCA GW / Shipments above contractual minimums Penetration Catheter Corsair / Growth trends from direct sales effects EU/ Middle East: PTCA GW / Market demands grows continuously, resulting in good result progress. Penetration Catheter Corsair : Increasing Demand China: PTCA GW / Progresses well over market growth rate Penetration Catheter Corsair : Increased sales due to increased demand Other : PTCA GW mainly shows good result trends. 0 14/6FY 15/6FY Operating income While expending R&D expense and Sales related expenses, sales growth contributed to large profit performance.

10 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 9 Per Segment by Medical Division (by Geography-2) 2014/6FYE 2015/6FYE (mil.yen) YoY (Exchange rate:usd) Net sales 5,298 6,427 +1, Japan 2,675 2, Overseas 2,623 3, USA 922 1, EU/EMEA 943 1, China Other Operating income 1,646 2,

11 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 10 Per Segment by Medical Division (by Treatment-1) 7,000 6,000 5,000 4,000 5, , (Overseas) OEM (Japan) (Overseas) Non -Cardiovascular (Japan) Net sales (YoY) Cardiovascular Japan: In addition to conventional product, new products also progress well. PTCA GW / SION Series mainly shows good result trends. PTCA Balloon Catheter/ Increased share due to launch of new product Kamui PTCA Guiding Catheter:/ Increased share due to launch of new product Hyperion Overseas : In all area, PTCA GW mainly shows good result trends. USA: PTCA GW/ Shipments above contractual minimums US, EU, Middle East, China: Penetration Catheter Corsair / Increased sales due to increased demand 3,000 2,000 1, ,101 2,853 1,640 1,766 14/6FY 15/6FY (Overseas) Cardiovascular (Japan) Non-Cardiov0ascular Japan : Temporal decrease along with Peripheral GW accrued from its switch over to direct business. Abdominal/Neurovascular products: Trend to increase due to strong sales Overseas : OEM Asia(including China) : Abdominal products shows good result trends. Japan :Increased based on Peripheral GW Overseas :Mini-Guide Wire in cardiovascular diagnosis increases.

12 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 11 Per Segment by Medical Division (by Treatment-2) 2014/6FYE 2015/6FYE (mil.yen) YoY (Exchange rate:usd) Net sales 5,298 6,427 +1, Japan 2,675 2, Overseas 2,623 3, Vascular 3,742 4, Japan 1,640 1, Overseas 2,101 2, Non-Vascular 961 1, Japan Overseas OEM Japan Overseas

13 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 12 Per Segment by Device Division -1 2,000 1,819 Net sales (YoY) Medical components decresaed overseas, but industrial components increased given effect of the Toyoflex acquisition. 296 (Overseas) Medical Components 1, Medical Components Japan: Increase in endoscopic components Overseas: Decrease in Ear/nose/throat, vascular device components (Japan) Industrial Components 1, Japan : Increase from acquisition of Toyoflex group as consolidated subsidiary /6FY 1QYTD /6FY 1QYTD (Overseas) Industrial Components (Japan) Overseas : Component supply increased in leisure industry and automobile market. Increase from acquisition of Toyoflex group as consolidated subsidiary +432 Operating income Minimal profit growth from acquisition of Toyoflex group as consolidated subsidiary. Sales Increases contributed its profit growth.

14 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 13 Per Segment by Device Division /6FYE 2015/6FYE YoY Toyoflex.Co. (Exchange rate:usd) Net sales 902 1, Japan Overseas Medical Components Japan Overseas Industrial Components 330 1, Japan Overseas Operating income

15 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 14 Reference : P/L 2014/6FYE 2015/6FYE (Mil.Yen) (Mil.Yen) (Mil.Yen) The main comparison factors Net sales 6, , ,045 Positive trends observed in Medical Field in all area. Industrial Components increased Cost of Sales 2, , Gross profit 4, , ,117 Along with brisk sales growth Gross profit ratio decreased due to acquisition of Toyoflex group as consolidated subsidiary SGA 2, , R&D expense and Sales related expenses increased Operating income 1, , Non-operating income Currency exchange gain increased Non-operating expense Ordinary income 1, , Extraordinary gain Total negative goodwill from last year s acquisition of Toyoflex group has not occurred this year, thus affecting 319 Mil. Yen this year. Extraordinary loss Net income 1, , Comprehensive income 1, , ,312 Foreign currency translation adjustment increased +1,039 Mil. Yen

16 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 15 Reference : B/S FYE 6/ /6FYE (Mil.Yen) (Mil.Yen) (Mil.Yen) The main comparison factors Assets Current assets Fixed assets 26, , , , Total assets 42, , Liabilities Current liabilities Fixed liabilities 9, , , , Total liabilities 17, , Total net assets 25, , ,375 Total liabilities & Net assets 42, , Cash and deposit 771 Receivable-trade +361 Investment securities 600 Inventory assets +620 Tangible fixed assets +546 Intangible fixed assets +74 Investments and other assets +190 Payable-Trade +234 Account payable-other 270 Other Current liability 443 Long term debt 453 Deferred tax liability +159 Retained earnings +399 Foreign currency translation adjustment +890

17 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 16 Reference : C/F 14,000 12,000 Tangible fixed assets acquisition 790 Debt borrowing/repayment 528 Cash dividends paid , ,000 1, ,584 8,000 6,000 Income before tax +2,212 Depreciation and Amortization +429 Inventory increase 305 Accounts receivable - other +395 Income tax payment 833 Effect of exchange rate changes 4,000 2, /6FY Cash and Cash equivalents Operating activities Investing activities Financing activities Other 15/6FY Cash and Cash equivalents

18 All Rights Reserved.Copyright 2014 ASAHI INTECC CO.,LTD. 17 Caution Regarding Information Presented All forward looking statements contained herein, including sales forecasts, outlooks, and strategic plans, are based on the best currently available data; however, risk and Uncertainty are involved in these statements. Please note that actual results may differ greatly from plans presented here. IR contact Asahi Intecc Co., Ltd. Corporate strategic office TEL URL