Ushio Inc. · TSE:6925

Ushio — Q3 FY2022 Earnings Presentation

32 slides from Ushio's earnings presentation, Feb 3, 2023

Slide 1: Third Quarter FY2022 Financial Results
Third Quarter FY2022 Financial Results Ushio Inc. February 3, 2023 This report contains forward-looking statements, including earnings forecasts, which are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Please be advised that actual result
Slide 2: Q3 FY2022 Overview
Q3 FY2022 Overview ■ YoY for Q3 FY2022 (Result) : Net sales and earnings increased ■ YoY for FY2022 (Full-year forecast) Lowered forecast announced on May 11, 2022 Copyright © 2023 Ushio Inc. All rights reserved 2
Slide 4: Financial Results Summary for Q3 FY2022
Financial Results Summary for Q3 FY2022 +18.6 billion yen YoY (+17.0%） Net Sales - Sales increased stemming from forex impact 128.3 billion yen - Optical Equipment Business: Sales increased due to demand increase - Imaging Equipment Businesses: Sales increased owing to recovery trend from COVID-19 +
Slide 5: Summary of Financial Results
Summary of Financial Results YoY Comparison Q3 FY2021 Q3 FY2022 （Billions of yen) Changes Percentage changes Net Sales 109.7 128.3 +18.6 +17.0％ Operating Profit 10.8 13.5 +2.7 +25.2％ Operating Margin 9.9% 10.5% +0.7P ‐ Ordinary Profit 12.5 18.0 +5.4 +43.6％ Profit Attributable to Owners of Parent 10.
Slide 6: YoY Variation Analysis of Operating Income
YoY Variation Analysis of Operating Income (Billions of yen) +3.6 ＋0.4 -0.7 -1.1 ＋2.0 -1.5 Imaging Equipment Business SG&A (labor costs, 13.5 (mainly impact of Others R&D, etc.) 10.8 net sales changes) (other SG&A) Light Source Optical Equipment Forex rate Business Business (mainly impact of (mainly
Slide 7: Business Segment Results
Business Segment Results Net Sales Operating Income YoY comparison YoY comparison 109.7 128.3 +18.6 10.8 13.5 +2.7 billion yen billion yen billion yen billion yen billion yen billion yen 1400 140.0 Others 160 160.0 Others +0.4 billion yen +0.0 billion yen 2.8 1200 120.0 140 140.0 0.1 2.4 Imaging Ima
Slide 8: Business Environment
Business Environment Some businesses again suffered from worldwide shortages of semiconductor- Common related materials and other parts and experienced raw materials, energy, and logistics cost hikes Signs of near-term adjustment in semiconductor industry amid growth over medium through long terms,
Slide 9: Light Source Business
Light Source Business Discharge lamps Net Sales YoY comparison ・UV lamps (-0.4 billion yen, -4%) While sales for semiconductors and electronic devices were steady, sales for LCD panel YoY comparison dropped amid capacity utilization adjustments Q3 FY2021 Q3 FY2022 Percentage ・Cinema lamps (+1.9 bill
Slide 10: Equipment Business: Optical Equipment and Imaging Equipment
Equipment Business Optical Equipment YoY comparison Optical equipment Net Sales YoY comparison Q3 FY2021 Q3 FY2022 Percentage Changes ・UV equipment (+8.2 billion yen, +41%) （Billions of yen） changes Sales increased for large field stepper for cutting-edge IC Package substrates and Direct Imaging lit
Slide 12: Full-Year Forecast Revision for FY2022
Full-Year Forecast Revision for FY2022 Lowered full-year forecast due to prolonged COVID-zero policy in China and component costs hike FY2022 Forecast Revision FY2022 FY2021 Q3 Change Changes Forecast Progress** Full-year rate (Billions of yen) Revision 2022.11.2 Changes Q3 Result Net Sales 170.0 17
Slide 13: Sub-segment Full-Year Forecast Revision for FY2022
Sub-segment Full-Year Forecast Revision for FY2022 FY2022 Revised forecast Reason for revision Revision Changes (Billions of yen) on 2022.11.2 Net Sales 59.0 63.0 (4.0) • Posted an inventory write-down for sodium lamps (Q2) Light • Downturn impact of semiconductor-related business Operating Profit 7
Slide 14: FY2022 Financial Forecasts by Sub-Segment
FY2022 Financial Forecasts by Sub-Segment FY2022 FY2021 YoY comparison FY2022 Q4 Business environment assumption result Forecast Q3 Q3 result Change (Revised) Changes progress Light Source (Billions of yen) rate • UV lamps: Adjustment phase continuing for LCDs and Net Sales 57.8 47.5 59.0 +1.1 +2.1％
Slide 15: Recent Light Source Business Climate
Recent Light Source Business Climate Products Statuses • Semiconductors: Lamp demand down since Q3 because of supply-demand adjustments, particularly for memory and logic devices, although there should be growth over medium through long terms UV Lamps • Flat panel displays: Demand for lamps graduall
Slide 16: Progress with Promising Products: Optical Equipment
Progress with Promising Products: Optical Equipment Products Statues Sales Forecasts • Steady orders and inquiries owing to ongoing IC package market growth; accordingly Large Field Stepper boosting production in stages: 30% increase in H2 FY2022, with more than double rise for Cutting-Edge IC in FY
Slide 17: Shareholder Returns
Shareholder Returns Dividend policy Generating stable returns 50 yen for FY2022 (plan) Cash dividends (yen) 56.3 Dividend payout ratio (%) 47.2 47.8 45.5 40.1 35.5 Dividends 31.6 27.8 30.3 30.2 50 50 50 per Share 26 24 26 24 26 26 26 22 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Buyback
Slide 19: EUV Light Source for Mask Inspection
EUV Light Source for Mask Inspection Mask Inspection equipment EUV light source for next- Sales of light manufacturer/ Semiconductor device generation semiconductor source Research & development manufacturers mass-production process Maintenance institution Development, Production, Sales Increase EUV
Slide 20: Sales Expansion of Exposure Equipment for Cutting-edge IC Package Substrates
Sales Expansion of Exposure Equipment for Cutting-edge IC Package Substrates Cutting-edge & Next generation package demand expansion With IoT evolution, demand increased for servers for data centers processing high capacity and high speed data processing Large Field Stepper（UX-5） Equipment Package s
Slide 21: Direct Imaging (DI) Lithography Equipment
Direct Imaging (DI) Lithography Equipment Print-wired board demand increasing As 5G progressed as application innovation Innovation of each application and demand increasing Data Center Direct Imaging Print-wired board Base Station Lithograph Equipment Sales Equipment Package substrate Board Mountin
Slide 22: Care222 as Disinfection and Virus Inactivation Solution
Care222 as Disinfection and Virus Inactivation Solution Care222Ⓡ: Disinfection and Illumination equipment Occupied space Space/surface Space infrastructure Virus Inactivation Solution Module Others (Robots etc.) Disinfection and Manufacturers virus inactivation Our Goal：Safe and reassured environmen
Slide 23: Reference: Quarterly Results Summary
Reference: Quarterly Results Summary FY2021 FY2022 YoY comparison Change Q1 Q2 Q3 Q4 Q1 Q2 Q3 Changes (Billions of yen) rate Net Sales 34.9 36.6 38.1 39.1 39.7 48.2 40.4 +2.2 +6.0％ Operating Profit 2.5 3.9 4.2 2.2 4.4 5.6 3.4 (0.8) (19.5)％ Operating Margin 7.4% 10.9% 11.1% 5.8% 11.3% 11.7% 8.5% (2.7
Slide 24: Reference: Quarterly Business Segments Summary
Reference: Quarterly Business Segments Summary FY2021 FY2022 YoY comparison Change Q1 Q2 Q3 Q4 Q1 Q2 Q3 Changes rate Net Sales 13.6 14.3 15.2 14.5 16.0 16.4 15.0 (0.1) (1.1)％ Light Operating Profit 1.9 2.5 2.4 1.2 3.1 2.0 2.1 (0.3) (14.4)％ Source Operating Margin 14.3% 17.8% 16.3% 8.8% 19.4% 12.2% 1
Slide 25: Reference: Sales Ratio by Region
Reference: Sales Ratio by Region Others 1.4% Q3 FY2021 Japan North America Asia Europe Net Sales 109.7 27.2% 17.5% 46.3% 7.6% billion yen Q3 FY2022 Japan North America Asia Europe Net Sales 128.3 21.1% 25.9% 45.5% 6.7% billion yen Others 0.8% Copyright © 2023 Ushio Inc. All rights reserved 25
Slide 26: Reference: R&D Expenses/Capital Expenditures and Depreciation
Reference: R&D Expenses/Capital Expenditures and Depreciation R&D Expenses（Billions of yen） Capital Expenditures (Billions of yen) R&D Expenses to net sales (%) Depreciation (Billions of yen) 8.5 10.0 7.6 7.1 8.2 13.0 7.9 6.2 6.4 7.3 7.5 6.1 7.1 6.9 6.9 10.6 10.5 6.7 6.7 6.8 10.1 10.1 10.0 5.0 Q3 Q3
Slide 27: Reference: Balance Sheets
Reference: Balance Sheets Assets Changes Liabilities/Total Net Equity Changes (Billion of yen) (Billions of yen) 321.0 317.7 -3.3 321.0 317.7 -3.3 Notes and accounts 21.1 +5.5 payable -24.4 Cash and deposits 26.6 64.2 -13.8 Other current liabilities 88.6 51.2 37.4 +0.4 Securities +1.1 Long-term liab
Slide 28: Reference: Cash Flows
Reference: Cash Flows (Billions of yen) 250 25.0 19.8 21.6 200 20.0 16.1 15.5 150 15.0 11.5 14.5 11.0 13.0 10.1 100 10.0 8.5 8.8 5.5 6.6 4.3 50 5.0 4.3 2.7 1.1 0.7 0 0 FY17 FY18 FY19 FY20 FY21 -0.7 -50 -5.0 -3.4 -3.6 -3.9 -5.5 -100 -10.0 -10.6 -150 -15.0 -200 -20.0 -20.3 -250 -25.0 営業利益 Operating pr
Slide 29: Business Segments and Main Products
Business Segments and Main Products Business segments Main products Product examples Discharge lamps Halogen lamps Light Source Solid state light sources Solid-state UV lamps Cinema Data projector OA lamps Care222 related light sources lamps lamps products （LD/LED） Large field steppers Direct imagin
Slide 30: Renewed IR Website/ IR Mail Distribution Feature
Renewed IR Website/ IR Mail Distribution Feature  Our official website "Investor Relations Information" has been renewed. We have reorganized the contents to make it more accessible and to let you know about Ushio's present to future.  We added new feature “IR E-mail distribution” to send our IR i
Slide 31: Glossary
Glossary AI Artificial Intelligence APMI Actinic Patterned Mask Defect Inspection BGA Ball Grid Array CoO Cost of Ownership CPU Central Processing Unite DCP Digital Cinema Projector DI Direct Imaging EUV Extreme Ultraviolet Radiation FPD Flat Panel Display GPU Graphic Processing Unit IoT Internet of
Slide 32: Contact: Investor Relations Section
Contact: Investor Relations Section Corporate Communication Department Ushio Inc. Email: ir@ushio.co.jp https://www.ushio.co.jp/en/ Copyright © 2023 Ushio Inc., All Rights Reserved 32

Ushio — Q3 FY2022 Earnings Presentation on 6ix

Ushio — Q3 FY2022 Earnings Presentation

Slide 1: Third Quarter FY2022 Financial Results

Slide 2: Q3 FY2022 Overview

Slide 3: Agenda

Slide 4: Financial Results Summary for Q3 FY2022

Slide 5: Summary of Financial Results

Slide 6: YoY Variation Analysis of Operating Income

Slide 7: Business Segment Results

Slide 8: Business Environment

Slide 9: Light Source Business

Slide 10: Equipment Business: Optical Equipment and Imaging Equipment

Slide 11: Full-Year Forecast for FY2022

Slide 12: Full-Year Forecast Revision for FY2022

Slide 13: Sub-segment Full-Year Forecast Revision for FY2022

Slide 14: FY2022 Financial Forecasts by Sub-Segment

Slide 15: Recent Light Source Business Climate

Slide 16: Progress with Promising Products: Optical Equipment

Slide 17: Shareholder Returns

Slide 18: Supplementary Information

Slide 19: EUV Light Source for Mask Inspection

Slide 20: Sales Expansion of Exposure Equipment for Cutting-edge IC Package Substrates

Slide 21: Direct Imaging (DI) Lithography Equipment

Slide 22: Care222 as Disinfection and Virus Inactivation Solution

Slide 23: Reference: Quarterly Results Summary

Slide 24: Reference: Quarterly Business Segments Summary

Slide 25: Reference: Sales Ratio by Region

Slide 26: Reference: R&D Expenses/Capital Expenditures and Depreciation

Slide 27: Reference: Balance Sheets

Slide 28: Reference: Cash Flows

Slide 29: Business Segments and Main Products

Slide 30: Renewed IR Website/ IR Mail Distribution Feature

Slide 31: Glossary

Slide 32: Contact: Investor Relations Section