Slide 1: FY2017 Financial Results Briefing
FY2017 Financial Results Briefing May 17, 2018 （Securities Identification Code: 6787）
Slide 2: Agenda
１ FY2017 Results ２ FY2018 Plan 3 Industry trends 4 Technology roadmap 1
Slide 3: Financial Results Highlights in FY2017
Financial Results Highlights in FY2017 1. Net sales grew positively, increasing by 13.2% over previous year, to total 108,500 million yen. Net sales •Sales remained strong in the automotive and smartphone markets. •Sales of HDI PCBs substantially increased. 1. Operating income amounted to 7,460 mill
Slide 4: FY2017 Consolidated Business Performance
FY2017 Consolidated Business Performance （100 million yen） FY2016 FY2017 Year-on-year performance performance Increase % N e t s a l e s 959.1 1,085.4 126.3 13.2% Operating income 57.9 74.6 16.7 28.8% 6.0% 6.9% Ordinary income 29.8 48.0 18.2 61.1% 3.1% 4.4% N e t i n c o m e 17.7 43.7 26.6 146.9% 1.
Slide 5: Analysis of operating profit change FY2016→FY2017
Analysis of operating profit change FY2016→FY2017 (100 million yen) Increase variable expenses Increase for increased sales in Sales Yield Variable cost improvement increase due to material cost increase 16.7 Growth Fixed cost SG&A FY2016 performance FY2017 performance (Exchange rate 108.69yen/us$)
Slide 6: Net sales, Operating income
Net sales , Operating income （100 million yen） Operating Operating Net sales Margin income Operating Net sales (Total) income 7.3% 7.1% 6.9% 5.8% 5.9% 6.0% 5.9% 300 30 4.2% 277 280 274 23.5 252 250 255 234 200 223 19.1 20 17.3 16.3 16.9 15.0 15.1 100 9.3 10 0 0 16Ｑ１ 16Ｑ2 16Ｑ3 16Ｑ4 17Q1 17Q2 17Q3 17Q
Slide 7: FY2017 Product Revenue
FY2017 Product Revenue (100 million yen) FY2016 FY2017 Difference Operating Operating Operating income income Sales i n c o m e Sales Sales % % % % 31.0 37.2 45.8 6.2 Automotive 437.0 482.8 7.1% 7.7% 10.5% 20.0% 19.0 27.5 77.7 8.5 Smartphones 253.5 331.2 7.5% 8.3% 30.7% 44.7% 7.9 9.9 2.8 2.0 Others
Slide 8: By product
By product (100 million yen) Double-sided PWB Four-layer PWB Six layers or higher HDI PWB other PWBs Non-PWB 20 (1.7%) FY2017 76 299 177 447 66 1,085 (7.0%) (27.6%) (16.3%) (41.2%) (6.2%) +12億円 +19億円 +97億円 10 (1.1%) FY2016 78 287 158 350 76 959 (8.1%) (29.9%) (16.5%) (36.5%) (7.9%) 0 200 400 600 800
Slide 9: FY2018 Plan
１ FY2017 Results ２ FY2018 Plan 3 Industry trends 4 Technology roadmap 8
Slide 10: Future Outlook
Future Outlook Sales will remain strong in both automotive and smartphone markets. Overall We will focus on HDI PCBs in the new applications. We will focus on flexible PCBs and module mounting(EMS). Build third factory in Vietnam. Investments Increase Japan domestic investment. Invest in labor
Slide 11: Consolidated financial prospect for FY2018
Consolidated financial prospect for FY2018 （100million yen） Difference FY2017 FY2018 increase % N e t S a l e s 1,085.4 1,180 94.6 8.7% O p e r a t i n g 74.6 82 7.4 9.9% i n c o m e 6.9% 6.9% O r d i n a r y 48.0 68 20.0 41.7% i n c o m e 4.4% 5.8% N e t 43.7 60 16.3 37.3% i n c o m e 4.0% 5.1% Exc
Slide 12: FY2018 Full-year forecast
FY2018 Full-year forecast （100million yen） FY2017 FY2018 Difference Operating Operating Operating income income Sales i n c o m e Sales Sales % % % % 37.2 38.9 28.6 1.7 Automotive 482.8 511.4 7.7% 7.6% 5.9% 4.6% 27.0 32.1 25.8 4.6 Smartphones 323.8 357.0 8.3% 9.0% 7.8% 16.7% 10.6 11 40.2 1.1 Others
Slide 13: 2018 Investments
2018 Investments （ 100 million yen） Domestic Overseas 120 96 100 85 83 50 35 31 31 35 28 27 35 13 0 3 4 FY2014 FY2015 SY2016 SY2017 SY2018 Depreciation 71 64 55 58 62 12
Slide 14: Industry trends
１ FY2017 Results ２ FY2018 Plan 3 Industry trends 4 Technology roadmap 13
Slide 15: Industry trends -Automobile-
Industry trends -Automobile- Usage of PWBs in cars is growing faster than the car sales growing rate. Automotive 9,754 9,998 10,270 Sales volume 8,715 8,787 8,928 9,452 (10k units) (100 million yen) 745,260 718,870 692,990 88,450 666,730 80,350 641,900 69,800 596,890 55,650 61,330 535,070 49,750 44,
Slide 16: Industry trends -smartphone-
Industry trends -smartphone- （ 1 million units ） 1,493 1,531 1,480 1,420 Others 471 483 Huawei 595 605 177 Xiaomi 162 140 115 105 105 Vivo 50 88 93 70 75 40 115 120 45 100 Oppo 325 310 320 315 Samsung 230 210 220 240 Apple 2015 2016 2017 2018 Source：Fujikimera 15
Slide 17: Technology roadmap
１ FY2017 Results ２ FY2018 Plan 3 Industry trends 4 Technology roadmap 16
Slide 18: Automotive Market Trend
Automotive Market Trend No. of new cars sold in major countries EV/PHV ratio No. EV/PHV sold Unit: 10,000 28.87 million cars 100% Other 750,000 cars (3%) 80 (up 38%) countries 2016 70 US 80% 2017 60 17.23 million cars Norway (-2%) 160,000 cars 60% 50 UK 5.23 million cars 40 (5%) 40% 28% 30 4.01 mill
Slide 19: PWB for EV/PHV・Automatic operation
PWB for EV/PHV・Automatic operation ■ EV/PHV ■ Automatic operation （Electrification） （Advanced driving support system） Large current High speed high voltage wide area communication High heat dissipation Connected car High power V2X communication Conversion efficiency location information EV charging
Slide 20: Automotive Technology Trend
Automotive Technology Trend Communication Evaluation Communication High density module substrate module Information Narrow pitch IC Multi-Layer HDI Trial Metal base heat Mass LED lighting production dissipation board Body Copper inlay heat Power IC Trial dissipation board Heat dissipation Thick copp
Slide 21: Smartphone mainboard technology roadmap
Smartphone mainboard technology roadmap High speed Mobile communication 4G 5G transmission Low dielectric Data transmission speed 100M-1Gbps 10Gbps, USB3.1 material Application processor Flip chip CSP Flip chip CSP/FOWLP Narrow pitch Liquid crystal / Liquid crystal / FPC Display panel high definitio
Slide 22: http://www.meiko-elec.com/
http://www.meiko-elec.com/