Earnings Presentation for 3Q FY2012

Transcription

1 Earnings Presentation for 3Q FY2012 Feb 13, 2013 The estimates and projection in this presentation are forward-looking statements based on the information available at the time of the announcement. Actual results may differ materially depending on a variety of factors. Figures less than 1 billion yen have been rounded down.

2 1. 3Q12 Results (3 months ended Dec. 31, 2012) 2. 3Q12 Results (9 months ended Dec. 31, 2012) 3. FY12 Forecast Supplementary Information 2

3 3Q12 (3 months ended Dec. 31, 2012) Summary 3Q11 3Q12 YoY Change Results % to net sales Results % to net sales Amount % Net sales % Operating income Ordinary income % % % % % % Net income % % % Exchange rate 77/USD 80/USD + 3/USD 104/EURO 103/EURO 1/EURO Annual effect of exchange rate (1 weaker yen) Net sales Operating income USD +1,200 million yen +400 million yen EURO +120 million yen +50 million yen 3

4 3Q12 Results (3 months) 4Q12 Forecast Quarterly Results Net sales Operating income 4

5 3Q12 Results (3 months) 4Q12 Forecast Watches and Clocks Sales Operating income Q12 Results (Compared to 3Q11) Net sales 1.0B Operating income 1.3B Domestic market: Steady sales in high-end products and robust sales during the year-end shopping season Overseas market: Decrease in revenue due to the European market slump and the slowing economy in China Movement: Stagnant state continues in Europe and China 5

6 3Q12 Results (3 months) 4Q12 Forecast Machine Tools Sales Operating income Q12 Results (Compared to 3Q11) Net sales 3.3B Operating income 1.4B Domestic: Continuing market down trend and decrease in revenue due to changes such as a decline in motivation for capital expenditures Asia: Decrease in revenue due to the slowing growth of China and stagnant market after the post-flood reconstruction in Thailand. U.S.: Increase in revenue due to steady sales in automobiles and medical products Europe: Stagnant without improvement in motivation for capital expenditures 6

7 3Q12 Results (3 months) 4Q12 Forecast Devices and Components Sales Operating income Q12 Results (Compared to 3Q11) Net sales 1.2B Operating income 0.3B LED: Solid sales in lighting and in-vehicle LED while stagnant in mobile device market Quartz crystals: Increase in revenue through recovery in quartz crystal blank Micro display: Decrease in revenue due to production adjustment by customers, etc. Automobile components: Increase in revenue with a steady transition 7

8 3Q12 Results (3 months) 4Q12 Forecast Electronic Products Sales Operating income Q12 Results (Compared to 3Q11) Net sales + 0.5B Operating income + 0.0B POS printer and label printer: Increase in revenue due to solid sales in the U.S. market Dot printer: Increase in revenue due to solid sales in the Chinese market. 8

9 3Q12 Results (3 months) 4Q12 Forecast Other Products Sales Operating income Q12 Results (Compared to 3Q11) Net sales 0.4B Operating income + 0.0B Jewelry: Decrease in revenue due to decline in sales of high-end products that have boosted the overall sales Pachinko-related products: Decrease in revenue due to reduced investment by customers experiencing economic uncertainty. 9

10 1. 3Q12 Results (3 months ended Dec. 31, 2012) 2. 3Q12 Results (9 months ended Dec. 31, 2012) 3. FY12 Forecast Supplementary Information 10

11 3Q12 (9 months ended Dec. 31, 2012) Summary 1-3Q11 1-3Q12 YoY Change Results % to net sales Results % to net sales Amount % Net sales % Operating income Ordinary income % % % % % % Net income % % % Exchange rate 79/USD 80/USD + 1/USD 112/EURO 101/EURO 11/EURO Annual effect of exchange rate (1 weaker yen) Net sales Operating income USD +1,200 million yen +400 million yen EURO +120 million yen +50 million yen 11

12 3Q12 Results (9 months) Operation Results Sales Q12 Results (Compared to 1-3Q11) Net sales 5.4B Q12 Results (Compared to 1-3Q11) Operating Income Operating income 2.8B 12

13 3Q12 Results (9 months) Watches and Clocks Sales Operating income Q12 Results (Compared to 1-3Q11) Net sales 0.0B Operating income 1.4B 13

14 3Q12 Results (9 months) Machine Tools Sales Operating income Q12 Results (Compared to 1-3Q11) Net sales 3.4B Operating income 1.4B 14

15 3Q12 Results (9 months) Devices and Components Sales Operating income Q12 Results (Compared to 1-3Q11) Net sales 1.5B Operating income 0.2B 15

16 3Q12 Results (9 months) Electronic Products Sales Operating income Q12 Results (Compared to 1-3Q11) Net sales 0.7B Operating income 0.3B 16

17 3Q12 Results (9 months) Other Products Sales Operating income Q12 Results (Compared to 1-3Q11) Net sales + 0.3B Operating income + 0.6B 17

18 1. 3Q12 Results (3 months ended Dec. 31, 2012) 2. 3Q12 Results (9 months ended Dec. 31, 2012) 3. FY12 Forecast Supplementary Information 18

19 FY2012 Forecast FY12 FY11 2/12 Forecast % to net sales 11/7 Forecast % to net sales Results % to net sales Net sales FY Operating income Ordinary income % % % % % % Net income % % % Exchange rate 83/USD 80/USD 79/USD 107/EURO 101/EURO 110/EURO Net sales H Operating income Ordinary income % % % % % % Net income % % % Exchange rate 85/USD 80/USD 78/USD 112/EURO 100/EURO 104/EURO19

20 Full-year Results Net sales Operating income

21 1. 3Q12 Results (3 months ended Dec. 31, 2012) 2. 3Q12 Results (9 months ended Dec. 31, 2012) 3. FY12 Forecast Supplementary Information 21

22 Supplementary R&D 22

23 Supplementary Capex / Depreciation Capex Depreciation FY07 FY08 FY09 FY10 FY11 FY12E 23

24 Supplementary <summary> Consolidated Statement of Cash Flow 1-3Q/FY11 1-3Q/FY12 Cash flows from operating activities 11,582 12,118 Cash flows from investing activities 10,786 19,661 Cash flows from financing activities 3,196 1,910 Effect of exchange rate changes on cash and cash Equivalents 3,454 1,892 Net increase in cash and cash equivalents 5,854 3,739 Cash and cash equivalents at beginning of term (million yen) 68,201 68,937 Cash and cash equivalents at end of term 63,365 65,198 (reference) Depreciation 10,236 11,149 Capex 11,551 14,429 24

25 Supplementary Free Cash Flow Free cash flow Cash flow from investing activities Cash flow from operating activities FY07 FY08 FY09 FY10 FY11 FY07 FY08 FY09 FY10 FY Net cash flow Net cash flow=cash and cash equivalents + Marketable securities-interest bearing debt FY07 FY08 FY09 FY10 FY11 25

26 Supplementary EPS FY07 FY08 FY09 FY10 FY Net income EPS(right axis) (Yen) (shares) 400,000, ,000,000 Average number of outstanding shares during term excluding treasury stock 350,000, ,840, ,777, ,000, ,257, ,120, ,004, ,000,000 FY07 FY08 FY09 FY10 FY11 26

27 Supplementary ROE 26 16% % 4.2% % 2.8% FY07 FY08 FY09 FY10 FY11 8% 0% Net income ROE (right axis) % 8% 16% average of the beginning and end of the term Net assets FY07 FY08 FY09 FY10 FY11 27

28 Supplementary Ratio of Return to Shareholders 30% Dividends per share (Full Year) E Purchases for treasury stock Total dividends paid Net income FY08 FY09 FY09 FY10 FY10 FY10 FY

29 Supplementary Group Employees (consolidated) (person) 30,000 25,085 23,725 24,494 24,233 22,976 25,000 20,000 15,000 16,348 14,946 15,473 15,317 14,223 Overseas Japan 10,000 5,000 8,737 8,779 9,021 8,916 8, / /3 2012/6 2012/9 2012/12 29