Tamron Co., Ltd. · TSE:7740
Tamron — Q3 2024 Earnings Presentation
23 slides from Tamron's earnings presentation, Nov 6, 2024
Slide 1: 3rd Quarter 2024 Financial Results
3rd Quarter 2024 Financial Results November 6, 2024 Tamron Co., Ltd. (Code: 7740)
Slide 2: Contents
Contents I. 3rd Quarter FY2024 Financial Results III. Reference Data 1. 3rd Quarter FY2024 Summary 1. Financial Summary 2. 3rd Quarter FY2024 Financial Results 2. Capital Investment, Depreciation, and 3. Factors Affecting Operating Income Variability R&D Expenses 4. 3rd Quarter FY2024 Results by Seg
Slide 3: Ⅰ. 3rd Quarter FY2024 Financial Results
Ⅰ. 3rd Quarter FY2024 Financial Results
Slide 4: Ⅰ-1. 3rd Quarter FY2024 Summary
Ⅰ-1. 3rd Quarter FY2024 Summary Environment Economy Market Moderate economic recovery despite some stagnation in overseas economies The interchangeable lens camera market grew by approximately 10% in Uncertainty continues due to geopolitical risks such as the prolonged Russia- both volume and
Slide 5: Ⅰ-2. 3rd Quarter FY2024 Financial Results
Ⅰ-2. 3rd Quarter FY2024 Financial Results Significant YoY sales increases in all segments for the cumulative 3rd quarter; Photographic Products Segment: approximately 1.3 times Surveillance & FA Lenses Segment: approximately 1.2 times Mobility & Healthcare Products, Others Segment: more than
Slide 6: Ⅰ-3. Factors Affecting Operating Income Variability
Ⅰ-3. Factors Affecting Operating Income Variability Both of Net sales and Operating Income increased in double digit even without favorable foreign exchange effects (Net Sales increased by approximately 20% and Operating Income Increased by approximately 50% YoY) FY2024 1Q-3Q （Millions of JPY） Impac
Slide 7: Ⅰ-4. Results by Segment: Photographic Products
Ⅰ-4. 3rd Quarter FY2024 Results by Segment ①Photographic Products For the 3rd cumulative quarter, Sales of Own-Brand products increased by double digits, due to the impact of new models launched through 2023 and the 3rd quarter of 2024, as well as strong performance in the domestic, Chinese, and o
Slide 8: Surveillance & FA Lenses
②Surveillance & FA Lenses For the 3rd cumulative quarter, The impact of inventory optimization at customers almost come to an end, sales of Surveillance lenses recovered to the same level as the previous year. Sales of FA lenses continually increased driven by the expansion of the lineup. Sale
Slide 9: Mobility & Healthcare Products, Others
③ Mobility ＆Healthcare Products, Others For the 3rd cumulative quarter, Sales of Automotive lenses increased significantly by approximately 1.4 times YoY because of strong demand mainly for sensing applications due to the popularization of Advanced Driving Assistant System (ADAS). Sales of Healt
Slide 10: Summary of revenue and operating income by segment
Summary of revenue and operating income by segment FY23 YoY FY23 YoY FY23 YoY FY23 YoY FY24 YoY FY24 YoY FY24 YoY (Millions of JPY) 1Q (%) 2Q (%) 3Q (%) 4Q (%) 1Q (%) 2Q (%) 3Q (%) Photographic Net Sales 9,615 1.3 13,809 4.3 14,207 26.6 15,399 33.2 13,944 45.0 19,152 38.7 17,228 21.3 Products Operat
Slide 11: Ⅱ. Financial Forecast FY2024
Ⅱ. Financial Forecast FY2024
Slide 12: Ⅱ-1. Financial Forecast FY2024
Ⅱ-1. Financial Forecast FY2024 Considering that the 3rd quarter of 2024 financial result performed significantly exceed the plan and the recent trend of each segment, full-year sales and all profits (Operating Income, Ordinary Income and Net Income) have been revised upward Revised Sales and Net
Slide 13: Financial Forecast FY2024 by Segment: Photographic Products
Ⅱ-2. Financial Forecast FY2024 by Segment ① Photographic Products Sales of Photographic Products is expected to increase by double digits even the sales of Own-Brand products decline slightly from the Aug.8 forecast due to delay sales recovery in Europe and US, and a slowdown in the Chinese market
Slide 14: Photographic Products - New Models
Photographic Products - New Models Before 2023: Approximately 5 new models ⇒ New medium-term(2024-2026) management plan policy : 6 to 7 new models a year ⇒ 7 new models in the first year(2024) of the plan 2022 2023 2024 Sep. Oct. Oct. Oct. Jun. Aug. Oct. For SONY E-mount Total:21 50-400mm F/4.5-6.3
Slide 15: Surveillance & FA Lenses
② Surveillance & FA Lenses Sales of Surveillance is expected to increase due to the impact of inventory optimization at customers almost come to an end. Sales of Camera Module is expected to increase significantly by approximately 3 times YoY due to the large contribution of new models launched
Slide 16: Mobility & Healthcare Products, Others
③Mobility ＆ Healthcare Products, Others Sales of Automotive lenses is expected to increase by approximately 1.3 times YoY through sustained strong growth. Sales of Healthcare components in the cultivation field is expected to increase approximately 1.7 times YoY driven by the expansion of the li
Slide 17: Ⅲ. Reference Data
Il. Reference Data
Slide 18: III-1. Financial Summary
III- １. Financial Summary Assets Liabilities・Net Assets （Millions of JPY） （Millions of JPY） 120,000 120,000 96,412 96,412 100,000 100,000 86,015 87,062 86,015 87,062 16,042 80,000 80,000 14,566 14,226 2,830 34,013 2,798 2,102 31,091 32,640 60,000 60,000 18,834 15,408 14,844 40,000 40,000 77,539 14,4
Slide 19: III-2. Capital Investment, Depreciation, and R&D Expenses
III-２. Capital Investment, Depreciation, and R&D Expenses Capital Investment・Depreciation R&D Expenses For Rationalization/Labor saving 4 （Millions of JPY） For New bussiness/R&D 1 10,000 12% For Increase For New model capacity 11 development 21 9.7% 10% 8,000 For 2nd plant in For 8.7% Vietnam 13 Mai
Slide 20: III-3. Cash Flow
III- ３. Cash Flow （Millions of JPY） 14,000 12,666 12,000 10,027 10,000 7,740 8,000 6,314 6,000 4,881 4,000 2,677 2,000 0 (2,000) (4,000) (2,579) (2,778) (3,637) (6,000) (5,145) (4,926) (6,414) (8,000) 23/9 23/12 24/9 Operating CF Investing CF Free CF Financing CF 23/9 23/12 24/9 Operating Activities
Slide 21: III-4. Cash Dividends Outlook & Key Performance Indicators
III- ４. Cash Dividends Outlook & Key Performance Indicators Cash Dividends Key Performance Indicators （JPY） Feb. to Mar. 2024 （JPY） Repurchase of 150 56.3% treasury stock 60% (2.0Bill.) 400 30% 2023 Record-high 50% 350 dividend for 3 25% 33.0% consecutive year 100 40% 300 32.9% 30.0% 20% 90 30% 250
Slide 22: III-5. Impact of Foreign Exchange Rate Fluctuations
III- ５. Impact of Foreign Exchange Rate Fluctuations Foreign exchange impact on 3rd Quarter of FY24 Impact (Millions of JPY) FY23 3Q FY24 3Q Net Sales Operating Income USD/JPY 144.64 149.67 680 (30) EUR/JPY 157.38 164.28 70 60 Others - - 120 70 Total - - 870 100 （Foreign exchange impact on previous
Slide 23: Disclaimer
Disclaimer 1. The purpose of this material is to provide information on the actual results for 3rd Quarter FY2024 and future business strategies. It is not an offer or a solicitation of an offer to buy or sell securities. 2. The information provided in this material is based on the data that is obta