FY2009 Financial Results

Transcription

1 FY29 Financial Results I. FY29 ended March 21 Financial Results II. FY21 Full Year Plan April 28, 21 TOPCON CORPORATION CFO Takayuki Ogawa Topcon Investor Relations 21

2 FY29 ended March 21 Financial Results 1 Topcon Investor Relations 21

3 Consolidated Financial Results ( yen) 29/3 29/3 Actual Actual 21/3 21/3 Actual Actual YoY (%) Point (YoY Point (YoY) Net Net Sales Sales Gross Gross Income Income on on Sales Sales SGA SGA % 13% 85% - World Economic Downturn, Lower Sales Volume - Yen Strength + Stable Growth in Chinese Market (Except Projectors) Operating Operating Income Income (Loss) (Loss) OP Ratio Non-Operating Non-Operating Expenses Expenses Ordinary Ordinary Income Income (Loss) (Loss) Extraordinary Extraordinary Income Income (Loss) (Loss) Income Income before before income income taxes taxes and and minority minority interests interests (6.9) % (2.3) (9.3) (1.2) (1.5) % (.8) % % % % + Change in Product Mix + Reduction in Fixed Cost - Lower Sales Volume, Yen Strength + Gain on Sales of Properties + Reversal of Allowance for Doubtful Accounts - Liquidation of Affiliated Company Net Net income income (9.9).1 % Dividends Dividends ( )( ( ) Topcon Investor Relations 21

4 Financial Results by Segment Positioning Eye Care Eye Care Finetech Net Sales (Consolidated) ( yen) Operating Income (Consolidated) ( yen) 29/3 Actual YoY (%) 21/3 Actual 29/1/3 Announcement 29/3 Actual YoY (%) 21/3 Actual 29/1/3 Announcement % (5.2) 119% 1.9 (.5) 2.9 (.4) (.8) % % (3.2) % (6.9) Topcon Investor Relations 21

5 Financial Results (Quarterly) 1.Consolidated 2.Positioning Net Sales ( yen) Operating Income ( yen) Net Sales Operating Income (2.1) (1.8) (1.5) (5) Net Sales ( yen) (2.) 13.6 (4.3) Operating Income ( yen) Net Sales Operating Income (.9) (1.1) 4 2 (2) (4) (7.8) 8/1Q 8/2Q 8/3Q 8/4Q 9/1Q 9/2Q 9/3Q 9/4Q (1) 8/1Q 8/2Q 8/3Q 8/4Q 9/1Q 9/2Q 9/3Q 9/4Q (6) 3.Eye Care 4.Finetech 15 1 Net Sales ( yen) Operating Income ( yen) Net Sales Operating Income Net Sales ( yen).1 (.1) (.5) Operating Income ( yen) Net Sales Operating Income (.2) (.7) (.4) (1) (.1) (2) (.6) 8/1Q 8/2Q 8/3Q 8/4Q 9/1Q 9/2Q 9/3Q 9/4Q (1) (2.7) 8/1Q 8/2Q 8/3Q 8/4Q 9/1Q 9/2Q 9/3Q 9/4Q (3) 4 Topcon Investor Relations 21

6 Analysis of Gain and Loss in Operating Income (YoY) [Consolidated] FY28 FY29 (codes are based on gain and loss) ( yen) 7.1 Total of Gain and Loss Results of the FY28 Exchange Fluctuations 1.5 Change in Sales, Change in Sales Mix, etc. 4. Results of the FY Fixed-cost Cost Reduction (2.6) (2.1) Reduction (2.5) Disposal of Bad Assets, etc. (4.3) 5 Topcon Investor Relations 21

7 Impact from Currency Exchange (Compared with Original Plan) Exchange Rate in FY29 Total Amount of Impact Assumed Rate for FY 29 Average Exchange Rate Net Sales Operating Income US$ EUR Total *We applied the average exchange rate from 1Q FY29 6 Topcon Investor Relations 21

8 Domestic and Overseas Sales (YoY) Japan North America Europe FY28 FY29 FY28 FY29 FY28 FY29 China Asia & Oceania Others FY28 FY29 FY28 FY29 FY28 FY29 7 Topcon Investor Relations 21

9 Consolidated Cash Flows Cash Flows ( yen) 28/3 29/3 21/3 D/E Ratio (%) % 127.2% % (1.2) 1.1 (2.6) (1) (5.7) (6.9) C/F from Operating Activities (2) (16.1) C/F from Investment Activities Free Cash Flow D/E Ratio (23.) 8 Topcon Investor Relations 21

10 CAPEX / Depreciation / R&D Cash Flows ( yen) Capital Expenditure / Depreciation Capital Expenditure R&D ( yen) R&D Positioning Eye Care R&D Expenditure to Sales Ratio(%) Depreciation Finetech % R&D Expenditure to Sales Ratio 1.3% % /3 29/3 21/3 28/3 29/3 21/3 9 Topcon Investor Relations 21

11 Results of Earnings Recovery Measures (Consolidated) ( yen) Reduction in Fixed-Cost (labor costs, expenses) Original Plan 3.5 1Q 1Q - 2Q 1Q - 3Q Actual Results 7.1 Reduction in Sales-Cost Total Topcon Investor Relations 21

12 FY21 Full Year Plan 11 Topcon Investor Relations 21

13 Business Trends by Region and Market by Region America Europe Japan Emerging Countries FY9 FY1 Overview of FY9 USA: Shows gradual recovery from 2H 2H FY29 Japan and Europe: Continued stagnated economy Emerging Co: Keeps growing while impacted by by recession Forecast for FY1 Expecting for for global economic recovery Further growth in in emerging countries by Market Construction Precision Agriculture Surveying/ GIS 3D Measurement FY9 FY1 Overview of FY9 Gradual recovery in in construction market Further growth in in new fields such as as precision Ag Ag and mobile mapping Forecast for FY1 Further market growth led mainly by by emerging countries Stronger demand for for high value-added products in in pursuing work efficiency 12 Topcon Investor Relations 21

14 Business Trends by Region and Market by Region FY9 FY1 Overview of FY9 Europe America Japan Asia USA: USA: CAPEX freeze in in facilities Japan: Expanding market in in medical check-up :: OCT OCT inspection now now covered by by the the medical insurance system Asia: Asia: Stable growth in in China :: Huge economic damage in in oil-producing countries Forecast for FY1 Slow Slow recovery in in USA. USA. Sluggish economy in in Europe Slow Slow downing replacement demand for for retinal camera in in the the Japanese check-up market. Increased OCT OCT demand in in medical facilities. Continuing growth in in Asia Asia lead lead by by China and and India India 3D OCT-2 3D OCT-2FA KR-1W IT Solution by Market Ophthalmic Market Optometric Market Diabetes and Glaucoma Screening Market FY9 FY1 Overview of FY9 Decreased investments for for facilities in in ophthalmic market Less Less participants in in the the bidding CAPEX freeze in in optometric market Expansion of of screening market Forecast for FY1 Increased investment and and inquiries in in ophthalmic market Hitting bottom in in optometric market Stable growth in in screening market 13 Topcon Investor Relations 21

15 Business Trends by Region and Market by Region Europe North America FY9 FY1 FY9 Overview Increased consumer spending helped helped by by economic stimulus in in many many countries Resumption of of CAPEX CAPEX at at large large firms firms Japan Asia FY1 Forecast Over-concentration of of capital capital investment in in Asia Asia Increasing demand on on energy energy saving saving products and and new new energy energy by Market Semiconductor MPU Memory Green 環境デバイス Device FY9 FY1 FY9 Overview FY1 Forecast Improved FAB FAB capacity utilization rates rates along along with with economic recovery Decreased customer and and production lines lines by by reconstruction of of the theindustry Steady Steady growth growth in in semiconductor market market by by strong strong demand on on PC PC SSD, SSD, Green Green devices devices (LED, (LED, Power-IC) entering an an expanding phase phase FPD LCD OLED Touch Screen FY9 Overview FY1 Forecast Extensive economic stimulus by by Chinese government lead lead FPD FPD market market Investment in in new new FAB FAB lines lines are are shifting shifting to to China China Rapid Rapid expansion of of demand on on terminal devices devices with with touch touch screen screen Possibility of of oversupply by by operation start start of of new new LCD LCD lines lines in in China China Device Projector Multi Function Printer Optical Pickup FY9 Overview FY1 Forecast Decreased office office equipment sales sales by by expense reduction of of many many companies Lower Lower demand on on DVD DVD player player embedded PC PC because of of expansion of of demand on on netbook Growing with with the the expansion of of the the Pico Pico Projector equipped mobile mobiledevices Increasing demand on on BD-DVD embedded FPD FPDTV TV 14 Topcon Investor Relations 21

16 Full Year Business Forecast (million yen) [Consolidated] FY29 FY21 1H Full Year 1H Full Year Actual Actual Forecast YoY (%) Forecast YoY (%) Net Sales 43,338 94,862 48, 11.8% 14, 19.6% Operating Income (Loss) (1,836) 1,45 -% 2, % Ordinary Income (Loss) (2,364) 545 (6) -% 1, % Net Income (Loss) (2,369) 133 (9) -% % ROE.3%.5% Dividends Exchange Rate US$ EUR Topcon Investor Relations 21

17 Business Forecast by Segment (million yen) [Consolidated] FY29 FY21 1H Actual Full Year 1H Full Year Actual Forecast YoY (%) Forecast YoY (%) Positioning 22,997 49,35 25, 18.7% 52, 15.4% Net Sales Eye Care 14,929 31,561 16, 17.2% 34, 17.7% Finetech 5,411 13,95 7, 129.4% 18, 129.% Total 43,338 94,862 48, 11.8% 14, 19.6% Positioning (1,173) 6 (2) -% 5 -% Operating Income (Loss) Eye Care 326 1, % 2, 11.9% Finetech (99) (564) (4) -% 2 -% Total (1,836) 1,45 -% 2, % 16 Topcon Investor Relations 21

18 Financial Results and Forecast (Semiannually) 1.Consolidated 2.Positioning 8 Net Sales ( yen) Operating Income ( yen) Net Sales Operating Income Net Sales ( yen) 1.1 Net Sales Operating Income Operating Income ( yen) (1.8) (9.9) 8/1H 8/2H 9/1H 9/2H 1/1H 1/2H (5) (1) (1.1) (.2) (6.4) 8/1H 8/2H 9/1H 9/2H 1/1H 1/2H (2) (4) (6) (8) 3.Eye Care 4.Finetech Net Sales ( yen) 1.8 Net Sales Operating Income 1.6 Operating Income ( yen) (.1) Net Sales ( yen) (.9) 5.4 Operating Income ( yen) Net Sales Operating Income.6.4 (.4) (2) 8/1H 8/2H 9/1H 9/2H 1/1H 1/2H (2.) (3.3) 8/1H 8/2H 9/1H 9/2H 1/1H 1/2H (4) 17 Topcon Investor Relations 21

19 Forecast of Gain and Loss in Operating Income [Consolidated] FY29 FY21 (codes are based on gain and ( yen) Result of the FY Exchange Fluctuations (1.2) Fixed-cost Reduction (2.8) 1.5 Cost Reduction 3.8 Change in Sales, Chage in Sales Mix, etc Total amount of Gain and Loss Factors 1.3 Forecast for the FY Topcon Investor Relations 21

20 FY21 Resource Loading Plan ( yen) Items FY29 FY21 Capital Expenditure (Depreciation) (3.9) (4.1) R&D (R&D Expenditure to Sales Ratio) 9.6 (1.1%) 1.4 (1.%) Investment & Loan Topcon Investor Relations 21

21 Impact from Currency Exchange FY21 Exchange Rate Impact from Fluctuation by 1 Assumed Rate for FY21 Net Sales Operating Income US$ EUR * In cases where a foreign subsidiary is consolidated, the Company had converted figures into yen based on exchange rate at the end of the term until FY28. From FY29 onward, average exchange rate during the period will be applied. 2 Topcon Investor Relations 21

22 Cautionary Note regarding Forward-Looking Statements These materials contain forward-looking statements, including projections of future operating performance. Such statements are based on management s best judgment, given the materials available to them at the time these statements are made. However, please be aware that actual performance may differ from projected figures owing to unexpected changes in the economic environment in which we operate, as well as to market fluctuations. Inquiries: Corporate Communication Dept. IR Affairs TOPCON CORPORATION Tel: investor_info@topcon.co.jp URL: 21 Topcon Investor Relations 21