Business Report for FY2010 From Apr. to Sep SMK Corporation Oct, 2010

Transcription

1 Business Report for FY21 From Apr. to Sep. 21 SMK Corporation Oct, 21

2 FY21 Outline of 1H Financial Statement Director and Executive Vice President Hajime Yamada

3 <Consolidated>1H Financial Result 1 Sales Amount : Million yen FY29 Apr-Sep FY21 Apr-Sep Income : Million yen 4, 3, +2.2% 32,28 33,2 +39.% 2,284 4, 3, 2, 1,643 1,766 2, 1, 1, ,159 1, Net Sales Operating Income Ordinary Income Net Income

4 <Consolidated> Sales Expenses 2 Unit : Million yen 4, 3, 2, 1, Operating Income FY29 Apr-Sep FY21 Apr-Sep 3,637 3,718 (94.9%) (93.2%) 16, % 16,62 2, % 2,694 6, % 7, % 2,841 3,25 1, % 1,68 1,643 2,284 (5.1%) (6.8%) 48.7% 8.2% 22.% 9.2% 5.1% ( ) : percentage to sales amount Material costs Expenses external manufacuring Labor costs Expenses Depreciation Allowances [(Material costs+expenses for external manufacturing processing) improved by 1.7%] 58.6% 56.9% -588 million yen [Labor costs 264 million yen increase] Personnel number and wage increase Average number of workers in overseas works FY29/Apr-Sep 1,679 people FY21/Apr-Sep 11,283 people

5 1, 5-5 <Consolidated> Analysis of sales expenses Analysis of factors for increase/decrease of consolidated operating income Unit : Million yen [ FY29 APR-SEP VS FY21 APR-SEP ] Total 588 Lower expenses for external manufacturing processing material costs 299 Increase in sales amount Factors for profit increase Total : 1,89 22 Decrease in depreciation allowance Increase in expenses Total : million yen Factors for profit decrease Increase in labor costs -1,

6 <Consolidated> Non-operating operating profit and loss 4 5 Currency exchang 327 profit/loss , Unit : Million yen Ordinary Income FY29 Apr-Sep FY21 Apr-Sep (-1.1%) (-1.6%) ,282 1,766 (4.%) (5.2%) 34 3 ( ) : percentage to sales amount Revenues from and expenditure to fixed assets Financial account balance Other Exchange loss Increase 11 million yen (End of term rate) Evaluation of debts and credits 1.FY29 2nd Quarter 29/Mar 98.23/$ 29/Sep 9.21/$ Yen depreciated by 8.2yen 2. FY21 2nd Quarter 21/Mar 93.4/$ 21/Sep 83.82/$ Yen appreciated by 9.22 yen

7 <Consolidated> Extraordinary gain or loss 5 Unit : Million yen ( ) : percentage to sales amount FY29 FY21 APR-SEP APR-SEP 15 Gain from sale of 29 fixed assets Income from recovery of bad debts Loss of disposed fixed assets.etc -15 Others Income before income taxes Income taxes (Current and deferred) Net income 1, , ,159 (2.9%) (3.5%)

8 <Consolidated>Financial Highlights (Quarterly) 6 1.FY21 Plan 1 Net Sales 2Operating Income 3 Ordinary Income 4 Net Income 2.FY29 Result 1 Net Sales 2 Operating Income 3 Ordinary Income 4 Net Income 1QTR (1/APR~ JUN) [Result] 16,56 1, QTR (9/APR~ JUN) 15, st Half Term 2QTR (1/JUL ~SEP) [Result] 16,946 1, st Half Term 2QTR (9/JUL~ SEP) 16, TOTAL (1/APR~ SEP) [Result] 33,2 2,284 1,766 1,159 TOTAL (9/APR~ SEP) 32,28 1,643 1, QTR (9/OCT~ DEC) 16,164 2 nd Half Term TOTAL (1/OCT~11/MAR) [Plan] ,998 1,316 1,634 1,141 2nd Half Term 4QTR (1/JAN~ MAR) 15, TOTAL (9/OCT~ 1/MAR) Unit : Million yen 32, ,3 922 Fiscal Term TOTAL (1/APR~ 11/MAR) [Plan] 66, 3,6 3,4 2,3 Fiscal Term TOTAL (9/APR~ 1/MAR) 64,371 2,479 2,582 1,862

9 Sales Amount : Million yen <Consolidated>2Q Financial Result Compared with FY21 1Q FY21 Apr-Jun FY21 Jul-Sep 7 Income : Million yen 2, +5.5% 4, 16,56 16,946 15, 3, 1, - 12.% 2, 5, 1, , , Net Sales Operating Income Ordinary Income Net Income

10 1, 5 <Consolidated> Analysis of sales expenses Compared with FY21 1Q Analysis of factors for increase/decrease of consolidated operating income [ FY21 APR-JUN VS FY21 JUL-SEP ] 396 Increase in sales amount Factors for profit increase Total Decrease in labor costs Increase in depreciation allowance 64 Increase in expenses 15 8 Unit : Million yen Total million yen Factors for profit decrease Total Higher expenses for external manufacturing processing material costs ,

11 <Consolidated> Cash Position 21/Mar 21/Sep Differential (A) (B) (B-A) 9 Unit : Million yen Assets Cash and cash equivalents 56,113 8,758 54,42 7,45-1,693-1,353 Accounts receivable 16,337 16, Inventories 5,24 5, Fixed assets 22,133 21, Liabilities Accounts payable and accrued expenses Interest-bearing dept 24,986 1,841 1,965 23,923 11,5 9,435-1, ,53 Net assets Common stock 31,127 7,996 3,497 7, Capital adequacy ratio 55.3% 55.8%.5%

12 <Consolidated> Cash Flow Position 1 Unit : Million yen Operating Cash Flow Working capital Income before income taxes Depreciation Others Investing Cash Flow Free Cash Flow Financing Cash Flow Increase (decrease) in interestbearing dept Purchases of treasury stock Dividends paid Initial balance Final balance FY29 APR-SEP 5,494 1,649 1,253 1, ,16 4,334-4,191-3, ,72 9,4 FY21 APR-SEP 2, ,76 1, , ,23-1, ,749 7,335

13 <Consolidated> Segment Information 11 FY21 APR-SEP Unit : Million yen CS Division Segment repot FC Division TP Division Other(*) TOTAL (Consolidate d gain and loss exhibit) Net Sales 12,615 16,238 4, ,2 Segment gain or loss (Operating Income) 592 1, ,284 (*) Other:research and development, lease, real-estate rental, factoring

14 12 FY21 2Q Result and Prospect President and COO Tetsuya Nakamura

15 Half Fiscal Term Performance (FY28-FY21) FY21) 13 5, 45, 4, Unit : Million yen 44,6 +2.2% Income: Million yen 8, 7, 6, 35, 3, 25, 2, 15, 1,996 3,165 1,71 28,142 32,28 32,91 33, 33,2 32, % 1,6 1,766 1,634 1,282 1,3 2,284 1,643 1, ,2 1, 1,159 1,141 5, 4, 3, 2, 1, 1, 5, -1,758-2,136-3,33 1H Result 2H Result 1H Result 2H Result 1H Plan 1H Result 2H Revised FY28 FY29 FY21 plan Net Sales Operating Income Ordinary Income Net Income -1, -2, -3,

16 Full Fiscal Term Performance (FY28-FY21) FY21) 14 Net Sales: Million yen 8, 7, 6, 5, 4, 3, 2, 1, ,742 1,29-1,62 FY28 Result 2,479 64,371 2,582 1, % +2.5% 67, 66, 3,2 3,9 2,6 3,4 3,6 2,3 FY29 Result FY21 Original Plan FY21 Revised Plan Net Sales Operating Income Ordinary Income Net Income Income: Million yen 8, 7, 6, 5, 4, 3, 2, 1, -1, -2,

17 <Consolidated>Trends in performance of Net Sales (Quarterly) Net Sales: Million yen 15 9, 87,659 8, 2,688 72,742 7, 12,74 64,371 6, 5, 22,94 15,438 15,927 4, 3, 2, 1, 23,61 23,243 2,421 21,357 16, % 16,596 16, % 33,2(1H) 15,684 16,56 4Q 3Q 2Q 1Q FY27 FY28 FY29 FY21

18 <Consolidated>Fiscal Term 16 Operating Income Performance Net Sales: Million yen 6, 5, , 1,541 4, 3, 2, 1, 2,88 1, , , ,284(1H) 169 4Q 3Q 2Q 1,215 1Q -1, , FY27 FY28 FY29 FY21

19 8, 7, 6, 5, Reference:Net Sales by Product Division (FY27-FY21) FY21) Net Sales: Million yen 9, 87,659 5,256 (6%) 32,942 (38%) FY27~29: Full term result FY21:1H Result, 1Q Plan 72,742 5,142 (7%) 28,371 (39%) 64,371 8,974 (14%) 66, 8,65 Other 213 (13%) 17 ( ):Composition ratio 4, 3, 2, 1, 49,461 (56%) 39,229 (54%) 27,759 (43%) 4,74 16,238 12,615 FY27 Result FY28 Result FY29 Result FY21 1H Result CS FC TP 27,637 (43%) 32,472 (49%) Other 75 33,2 (12%) (49%) (38%) 24,71 FY21 Plan (37%)

20 Half Fiscal Term:Net Sales 18 by Product Division (FY28-FY21) FY21) Net Sales: Million yen ( ):Composition ratio 5, 45, 4, 35, 3, 25, 2, 15, 1, 5, 44,6 2,799 16,543 25,258 (6%) (37%) (57%) 28,142 2,343 11,828 (8%) (42%) 32,28 12,996 13,971 14,88 (5%) 4,44 (14%) 4,57 (4%) (46%) 33,2 32,91 Other (14%) 4,74 14,641 16,238 (36%) 12,88 12,615 (4%) 75 (12%) (49%) (38%) FY28 1H FY28 2H FY29 1H FY29 2H FY21 1H CS FC TP Other

21 Operating Income by Product Division (FY28-FY21) FY21) 19 Income: Million yen 2,5 2, 1,5 1, 1, ,868 1, ,284 1,635 Other FY28 1H -1, FY29 1H FY29 2H FY21 1H -1, -1,5-2, ,758 FY28 2H CS FC TP Other

22 Net Sales by Market (FY28 FY21) 2 Sales Amount : Million yen 5, 45, 4, 35, 3, 25, 2, 15, 1, 5, 44, ,919 4,756 19,44 3,856 13,95 28, ,915 2,925 11,163 2, % 32,28 33,2 32, ,691 1,795 2,18 3,718 3,874 3,78 12,86 11,765 11,899 3,166 4,76 4,39 8,949 1,424 9,977 1,511 FY28 1H FY28 2H FY29 1H FY29 2H FY21 1H Audio & Visual Car Electronics Telecom Computer Amusement & Appliance Other

23 <Consolidated> 1H Net Sales by Market Net Sales: Million yen 14, 13, 12, 11, 1, 9, 8, 7, 6, 5, 4, 3, 2, 1, 13,95 5 1,14 3,66 Audio & Visual market 1,424 1,511 FC 8,228 CS 2, % TP 3 8,667 1,832 FY28 FY29 FY21 Net Sales: Million yen 5, 4, 3, 2, 1, 3,856 Car Electronics 3, % 4,39 1,449 2, ,449 TP 415 FC 742 1,562 1,32 CS 1,278 FY28 FY29 FY21

24 <Consolidated> 1H Net Sales by Market Net Sales: Million yen 2, 18, 19, ,142 3 Telecom market 16, 14, 12, 1, 8, 6, 4, 2, 16,841 12,86 TP 1,671 FC 1,716 CS 9, % 1 Other 11, ,63 7,388 FY28 FY29 FY21 7 5, 4, 3, 2, 1, Computer market Net Sales: Million yen 4, ,874 1,896 3,718 3,78 19 Other 28 1,224 1,121 1, % TP FC CS 1,441 1,19 FY28 FY29 FY21

25 Monthly booking Entry (FY27~) 23 FY21 FY21 FY29 FY28 FY27 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

26 Management Policy of SMK FY21 24 Reasonable profits accompanied by expansion Business challenge problems that confront one 1 Yen appreciation 2 China risk 3 Volume zone & double standard

27 CEATEC JAPAN 21 25

28 CS Division 26

29 CS Division CS=Connection System Major Products :Connector/Jack Connector JackJack Pin Jack Jack box 27 Coaxial Connector FPC Connector Card Connector Interface Connector DC Power Supply Jacks Headphone Jacks

30 CS Division Net Sales, Operating Income (Consolidated) 28 Sales Amount : 1 Million yen 4 Operating Income : 1 Million yen Net Sales (89%) 247 Operating Income (112%) (96%) (47%) 2.8 FY29 FY21 FY21 1H FY21 2H Result plan Result plan 2 1

31 1% CS Division Transition of market-specific sales (Consolidated) 4% 7% 6% 6% 29 Industry 69% 66% 66% 65% Information Technology 5% 9% 1% 1% 9% Car Electronics % 18% 17% 18% 2% FY29 1H FY29 2H FY21 1H FY21 2H Result Result Result Plan Audio/Visual

32 *FY28=1 1 CS Division Product Strategy Expand sales through increased functionality and new technological ideas Changing sales figures 132 FY8 FY9 FY1 FY11 Result FPC Connectors 67 Result Space-saving, low-profile EN Series Car electronics, meter parts, sensors, radar connections etc. External Multipole Connectors Changing sales figures *FY28=1 Plan 21 Plan 132 Strong sales of smartphones, e-books, wireless modules, data communication cards BF Series Highly-reliable and robust types,more variety 3 Shielded FPC connectors Support high image quality and high-speed transmission Micro USB Connectors Increased product repertoire inc. stand-off, reverse, mid-mounting and SMP/DIP types FY8 FY9 FY1 FY11 Result Result Plan Plan Increased demand Shockresistant Robust

33 CS Division Technical expansion into growing and new markets Photovoltaic Cell Module Connector PV Series 55% miniaturization compared to our traditional products 31 Waterproofing technology high-current compatible Simple workmanship Weatherability and flame retardancy Size/lock structure More variety SIM card connectors Industry-first side-insertion type LED lighting connectors Increased demand Enter period of real growth Achieves smallest size and lowest profile in market Multipole wire to board connector ID-MULTI Series Low-profile and space-saving High contact reliability Switch-attached coaxial connector TS-12 Low-profile and space-saving High mating force Ecology Car Electronics Smartphone e-book Medical Healthcare Connectors for medical equipment (interface connectors, battery connectors, sensor connectors etc.) Increased personal use

34 CS Division FY21 Policy 32 成長市場のマッピング再考 Reconsider mapping of growing markets Continue focus on high value-added fields Speed New product development Technical partnerships Priority products:fpc, PB, Coaxial Improved products in growing markets car electronics / tablet PCs ecology / medical equipment Volume zone strategy :V-Project Develop local vendors Buying reform Function-focused design Design and quality assurance reform Reformation Simplified manufacturing processes Manufacturing reform

35 FC Division 33

36 FC Division FC=Functional Components Major Products SW (Switch) UN (Unit) 34 Various types of switches RC (Remote Control) Transfer Jet Antenna Coupler AC adapters Control Panel MD (Module) Remote Control Camera Module

37 FC Division Net Sales, Operating Income (Consolidated) 35 Sales Amount : 1 Million yen Operating Income : 1 Million yen (118%) 325 Net Sales Operating Income (167%) (1%) (56%) FY29 FY21 FY21 1H FY21 2H Result Plan Result Plan

38 1% FC Division Transition of market-specific sales (Consolidated) Industry 5% Information Technology Car Electronics Audio/Visual % FY29 1H FY29 2H FY21 1H FY21 2H Result Result Result Plan

39 Smart Phone FC Division Priority Approach Market, Priority Product 1-dome switch antenna coupler Featuring a Thin Horizontal capacitive type RF Remote switch switch Control Audio&Visual Remote Control for IPTV 37 Development of Remote Control with Motion Control Sensor Rubber single-key switch Remote control for automotive applications Car Electronics Camera Module Remote control for Sanitary Remote control for Air conditioner Home Appliance

40 FC Division FY21 Policy 38 Shift to path of growth Strengthen technical 技術開発強化 development Strengthen marketing No.1 No,1 product 商品 Capture volume zone Maintain profitable structure (cut variable costs + reduce fixed costs)

41 TP Division 39

42 TP Division TP=Touch Panel Main products 4 Main applications Resistance Sensitive Touch Panel Capacitive Touch Panel Optical Touch Panel

43 TP Division Net Sales, Operating Income 41 (Consolidated) Sales Amount : 1 Million yen Operating Income : 1 Million yen 1 9 (96%) 86 Net Sales Operating Income (11%) FY29 Result FY21 Plan (67%) 1.2 FY21 1H Result 1.2 FY21 2H Plan 2.5

44 1% TP Division Transition of market-specific sales (Consolidated) 42 28% 26% 27% 26% Industry 5% 39% 26% 24% 27% Information Technology 33% 49% 49% 47% Car Electronics % % % 1% 1% FY29 1H FY29 2H FY21 1H FY21 2H Result Result Result Plan Audio/Visual

45 TP Division Prioritized products and markets Automotive market Develop high value-added products Strive to to reduce costs by by increasing production capacity and and efficiency Dokodemo touch Increase share Resistance sensitive multi-touch TP Multi-touch Capacitive medium-size TP (automotive spec.) Multi-touch models:1 Sizes:3 to 1-inch Other:Input with pen and while wearing gloves is possible *Products exhibited at CEATEC JAPAN 21 Mobile phone market Improve product lineup according to to application Strive to to make products even thinner and and to to reduce costs further Multi-touch models:1 Sizes:7 to 8-inch Other:Win7, Android-compatible, high-transmission Expand SMK-PH Plant Due to go into full operation from Dec./21 Capacitive lightweight TP Multi-touch models:1 Sizes:2.5 to 7-inch Other: Lightweight, unbreakable Product example 43

46 TP Division FY21 Policy 1 Increase sales Expand operations 44 Attack overseas market Overseas market sales ratio FY29 results U.S. Europe 3% % Asia 29% Japan 68% FY21 forecast U.S. 4% Asia 48% Europe 1% Japan 47% ~Respond to weak dollar ~ Shift production base Purchase in dollars Rare metal focus 2 Expand profits Product configuration New product development Exchange-rate loss measures

47 Notice 45 All information in this material concerning the forecast of business achievements, projections of general business conditions and our business strategies is dependent on our conclusion made to a normally foreseeable extent applying information reasonably accessible to us at the time of preparation of this material. However, the reality is that it contains risks and uncertainties which may cause result to materially differ from business projections, stated or implied, due to situations which are unforeseeable under normal conditions, or of results which are beyond a reasonably foreseeable outcome at that time. Despite our active efforts to disclose information which is considered to be important to investors of our company, total dependence on the business projections in this material, stated or implied, must be refrained from when decisions of any kind are made regarding our company. *The materials for this presentation to our investors is available on the IR Information Section of our Web site,