Summary of Financial Statement for the 3rd Quarter of Fiscal Year TABUCHI ELECTRIC CO., LTD (Security code:6624)

Transcription

1 Summary of Financial Statement for the 3rd Quarter of Fiscal Year 2017 February 13, 2017 TABUCHI ELECTRIC CO., LTD (Security code:6624)

2 FY2017 3Q Result Overview Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 1

3 Main point of FY2017 3Q Result (Power Supply Energy solution business ) In the domestic photovoltaic power generation market there are signs that the delay in the accreditation procedure after the FIT revised enforcement is gradually canceled, but the installation has largely fallen in the fourth quarter With regard to the sales expansion of North American market, Sales of power storage systems steadily progress in Hawaii, California, Puerto Rico etc. (Power Supply Power Supply & Device business) Adapters for amusement machine continue to respond to increasing demand with full production, contributing greatly to increased sales (Transfomer Power Supply & Device business) The demand for air conditioner reactors increased in Japan and ASEAN countries, but overall sales remained steady as the Chinese business stagnated. Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 2

4 Consolidated Operating Result Along with an increase of AC adaptor for amusement machine, stagnation of domestic PV market and a delay of oversea expansion, sales is slightly increased. Cost reduction achieved as planned, executed Loss on inventory valuation and impairment. FY2016 3Q FY2017 3Q Difference Sales 18,366 20,027 1,661 (Unit: MJPY) Operating Profit 2,345 3,440 1,095 Current Profit 2,346 3,386 1,040 Net Profit 3,261 7,196 3,934 Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 3

5 Operating Result by Segment (Unit: MJPY) F Y Q F Y Q D i f f e r e n c e Sales Operating Profit Sales Operating Profit Sales Operating Profit Power Supply 11,320 2,495 12,794 3,369 +1, Transformer 7, , Adj Total 18,366 2,345 20,027 3,440 1,661 1,095 Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 4

6 Summary for Sales by Segment Power Supply Business Transformer Business +13.0%(vs FY2016-3Q) +2.7%(vs FY2016-3Q) Although domestic solar market conditions are bottoming up recovery will fall back to the fourth quarter In North America, sales of hybrid storage systems started as small scale ADP for amusement machines continues to perform well Reactor for inverter air conditioner level off Switching transformer for power supply Steady demand for ASEAN for white goods and office machines Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 5

7 Quarterly Sales Trend by Segment (Unit: MJPY) 12,000 FY2015 FY2016 FY ,000 2,344 1,995 8,000 2,392 2,425 2,345 6,000 2,627 2,216 2,624 2,289 2,318 4,000 8,242 8,754 2,201 2,000 6,148 6,799 3,702 4,437 3,180 5,444 4,506 4,331 3, Q 15-2Q 15-3Q 15-4Q 16-1Q 16-2Q 16-3Q 16-4Q 17-1Q 17-2Q 17-3Q Power Supply Transformer Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 6

8 Consolidated Operating Result Quarterly Trend (Unit: MJPY) 4,000 FY2015 FY2016 FY ,000 3,000 14,000 Operating, ordinary, and net profit (bar chart) ) 2,000 1, ,000-2, Q 15-2Q 15-3Q 15-4Q 16-1Q 16-2Q 16-3Q 16-4Q 17-1Q 17-2Q 17-3Q 12,000 10,000 8,000 6,000 4,000 Sales (line chart) -3,000 2,000-4,000 0 Operating Profit Current Profit Net Profit Sales Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 7

9 Consolidated Financial Position Asset 17/3/E 17/12/E Liabilities &Equity 17/3/E (Unit: MJPY) 17/12/E Cash & EQV. 4,365 3,377 Acc. Payables 4,434 4,551 Acc. Receivables 5,268 3,904 Short-term debt 7,065 8,473 Inventories 9,064 8,597 Others (current) 3,177 2,485 Others (current) 1,024 1,104 Long-term debt 2,309 1,962 Fixed asset 12,121 8,075 Others (NC) 4,951 4,562 Deferred asset 0 0 Equity 9,905 3,023 Total 31,844 25,060 Total 31,844 25, % Equity ratio 300.0% Fixed asset/equity ratio 267.1% 8,000 Net Interest-bearing debt (Unit: MJPY) % 30.0% 31.1% 250.0% 200.0% 6,000 5, % 10.0% 12.1% 150.0% 100.0% 50.0% 122.4% 4,000 2, % 17/3/E 17/12/E 0.0% 17/3/E 17/12/E 0 17/3/E 17/12/E Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 8

10 FY2017 Forecast Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 9

11 <Forecast> Consolidated Income First Last Half Half FY2017 FY2017 (Unit: MJPY) Actual 3QResult 4Q-F Forecast before revised Sales 13,751 6,276 7,473 13,749 28,300 27,500 Operating Profit Operating Profit ratio Current Profit Net Profit 2,171 1, ,729 2,000 3,900 ー ー ー 2,144 1, ,856 2,100 4,000 4,426 2, ,374 4,300 7,800 Dividend per share At-half 0JPY ーー Year-end 0JPY Yearly 0JPY Yearly 0JPY Foreign exchange rate : JPY110/USD Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 10

12 Second Half Forecast Points of second-half performance forecast Sales and Ordinary Profit The amusement power supply and transformer business is expected to remain strong In the domestic market of the PV inverter, the delay of FIT recertification procedure has gradually improved, but the installation concentrated in the fourth quarter Sales expansion of overseas (especially the United States) power storage system steadily began from 3Q, but it did not reach the expected volume There was no increase in revenue compared to the first half, but there was also a downward revaluation loss and a decline in profit Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 11

13 <Forecast> Sales Trend by Segment Unit: Million Yen 25,000 FY2015 FY2016 FY ,336 20,000 4,339 17,767 15,000 4,818 12,984 13,172 13,751 13,749 10,000 4,844 4,547 4,913 4,600 16,996 12,948 5,000 8,139 8,625 8,837 9,149 0 FH LH FH LH FH LH Power Supply Transformer Copyright(C) Tabuchi Electric Co., Ltd. All rights reserved. 12

14 Contact <Headquarters> Nissay-shinosaka Bldg., Miyahara, Yodogawa-ku, Osaka , JAPAN <Tokyo Branch> Kinsan Bldg., Kanda Nishiki-cho, Chiyoda-ku, Tokyo , JAPAN <Investor Relations> (Osamu Inoue in Business Strategy Dept.) *Please note that the statements contained in this document are based on various assumptions from presently available information and never constitute any guarantee that projections of the performance will actually realize.