Hamamatsu Photonics K.k. · TSE:6965
Hamamatsu Photonics K.k — Q2 FY2019 Earnings Presentation
40 slides from Hamamatsu Photonics K.k's earnings presentation, May 2019
Slide 1: Hamamatsu Second Quarter Report (Summary)
Hamamatsu Second Quarter Report (Summary) Fiscal Year ending September 30, 2019 May 2019 Hamamatsu Photonics K.K. Tokyo Stock Exchange: 6965 www.hamamatsu.com 1
Slide 2: Notes
Notes This material is not intended to be a solicitation to buy or sell any securities of Hamamatsu Photonics K.K. The information contained in this material is based on data available as of making it. No guarantees, promises are made as to its accuracy or completeness. 2
Slide 3: 1. Financial results summary
1. Financial results summary 2. Annual forecast/business development 3. Topics 3
Slide 4: Semi-annual performance financial highlights
Semi-annual performance financial highlights in million yen FY2018 FY2019 Compared Compared (Consolidated) 1st 1st Compared Year Year with original with prev. Year with prev. (Original Half Half year plan) (Forecast) plan year (Forecast) (Forecast) Net Sales 73,074 144,338 74,413 +1,339 150,400 146,
Slide 5: Sales & profit (FY2014 - FY2021)
Sales & profit (FY2014 - FY2021) in million yen 200,000 45,000 Sales Profit 180,000 40,000 160,000 35,000 140,000 30,000 120,000 25,000 100,000 20,000 80,000 15,000 60,000 10,000 40,000 20,000 5,000 0 0 FY2019 FY2019 FY2020 FY2021 FY2014 FY2015 FY2016 FY2017 FY2018 (Original (Forecas (Original (Orig
Slide 6: Sales by region
Sales by region in million yen FY2018 FY2019 Region 1st half 2nd half Year Share 1st half Y/Y Share Japan/ Domestic 21,265 20,654 41,918 29.0% 21,632 101.7% 29.1% North America 16,555 16,807 33,363 23.1% 18,062 109.1% 24.3% Europe 19,061 17,485 36,545 25.3% 17,488 91.7% 23.5% Asia and China 16,032 1
Slide 7: Capital investment (payment based) & depreciation
Capital investment (payment based) & depreciation in million yen Capital inv. 14,000 12,835 Main capital investment in the 2 nd half of FY2019 12,000 ・Ichino(Solid state) new building 2.5 billion yen ・Toyooka new dormitory 0.6 billion yen 10,000 Capital inv. 8,000 7,100 Depreciation Depreciation 6,0
Slide 8: Research and development
Research and development in million yen 14,000 12.0% 12,000 10.0% 10,000 8.0% 8,000 6.0% 6,000 4.0% 4,000 2.0% 2,000 0 0.0% 2nd half Year 2nd half Year Year Year 1st half 1st2nd half2nd Year 1st half 1st (Revised (Revised half half half plan) plan) FY2015 FY2016 FY2017 FY2018 FY2019 R&D 11,615 11,87
Slide 9: 2. Annual forecast/business development
1. Financial results summary 2. Annual forecast/business development 3. Topics 9
Slide 10: Sales & profit (FY2016 - FY2021)
Sales & profit (FY2016 - FY2021) in million yen 200,000 45,000 Sales Profit 180,000 40,000 160,000 35,000 140,000 30,000 120,000 25,000 100,000 20,000 80,000 15,000 60,000 10,000 40,000 20,000 5,000 0 0 FY2019 FY2019 FY2020 FY2021 FY2016 FY2017 FY2018 (Original (Revised (Original (Original plan) pla
Slide 11: Sales by industry & application
Sales by industry & application Rad Med. Diag. Inst. (X-ray CT, PET, Gamma camera, Dental imaging) in million yen 60,000 Medical inspection or Monitoring instrument.(DNA, Blood analyzer) 55,000 Semiconductor instrument (Failure analysis, Stealth dicing) 50,000 Non destructive testing Factory automat
Slide 12: FY2019 Projection Sales by industry & application
FY 2019 Projection Sales by industry & application Information/Communication 1.1% Consumer 0.7% Optical instrument Transport instrument 1.7% Others (Automobile sensor, 5.0% Auto-LAN, ITS) 3.8% Nuclear medical Academic Research instrument (Neutrino detection, (X-CT, PET, LHC Project) 5.8% Gamma) 26.5
Slide 13: Electron tube segment (Electron tube division)
Electron tube segment (Electron tube division) Toyooka factory at Iwata-city, Shizuoka-pref. 13
Slide 14: Sales of core electron tube by application
Sales of core electron tube by application 9,000 DNA, Blood analyzer,etc in million yen 8,000 Liquid Medical imaging,etc chromatography,etc Semiconductor, Analytical 7,000 and medical inspection,etc 6,000 Non destructive testing,etc 5,000 Semiconductor manufacturing 4,000 3,000 2,000 1,000 0 PMT for
Slide 15: Opto-semiconductor segment (Solid state division)
Opto-semiconductor segment (Solid state division) Ichino main factory at Hamamatsu-city, Shizuoka-pref. 15
Slide 16: Sales of core opto-semiconductor
Sales of core opto-semiconductor Semiconductor inspection, X-ray medical Dental diagnostic and in million yen 16,000 equipment Analytical instrument 14,000 Blood test, 12,000 Dental Semiconductor, diagnostic Range finder, Automobile and Radiation 10,000 FA sensor Measurement etc. Encoder, Optical 8,
Slide 17: Imaging and measurement instruments segment (Systems division)
Imaging and measurement instruments segment (Systems division) Joko factory at Hamamatsu-city, Shizuoka-pref. 17
Slide 18: Sales of core imaging & measurement instruments
Sales of core imaging & measurement instruments Biomedical application in million yen 6,000 Emission microscopy 5,000 Industrial X-ray inspection 4,000 Bio, Medical, Clinical pathology Academic 3,000 research 2,000 1,000 0 Digital camera Semiconductor Measurement System for life Spectroscopy Medical
Slide 19: 3. Topics
1. Financial results summary 2. Annual forecast/business development 3. Topics 19
Slide 20: Chinese real GDP and our sales
Chinese real GDP(left axis) and our sales(right axis) (Unit: billion RMB) (Unit : million yen) 90,000 BHP 80,000 Langfang 32,000 third factory 70,000 plan 28,000 60,000 Opened BHP Langfang 24,000 second factory 50,000 HPC 20,000 Shenzhen 40,000 16,000 Opened BHP 30,000 Langfang factory HPC 12,000 Be
Slide 21: BEIJING HAMAMATSU PHOTON TECHNIQUES INC. (BHP)
BEIJING HAMAMATSU PHOTON TECHNIQUES INC. (BHP) Established in 1988, 16 employees Sales in 1990 : 6.3 million yen Langfang factory opened in 2005, 450 Langfang second factory opened in 2014, 510 employees, sales exceeded 1.7 billion yen employees, sales exceeded 3.4 billion yen 21
Slide 22: BHP (Manufacturing subsidiary in China)
BHP(Manufacturing subsidiary in China) 5 major product lines Middle term plan 12,000 (Unit : million yen) 10,000 8,000 6,000 Photomultiplier tube Glass product 4,000 2,000 0 2018 2019 2020 2021 2022 2023 Scintillator Scintillators, Glass products and Medical equipment are to expand at BHP third fact
Slide 23: HAMAMATSU PHOTONICS (CHINA) Co., Ltd (HPC)
HAMAMATSU PHOTONICS (CHINA) Co., Ltd (HPC) Established 2018 2023’s target in 2011 Employees : 84 Employees : 44 Employees : 140 Sales : 17.8 billion yen Sales : 6.7 billion yen Sales : 30 billion yen 23
Slide 24: HPC (Sales subsidiary in China)
HPC (Sales subsidiary in China) (Unit : million yen) Past, present and future of business in China 35,000 28,985 30,000 25,000 19,217 20,000 17,820 15,000 10,000 5,000 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Medical Industrial Analytical Academic Measurement Others *numbers are roun
Slide 25: Future growth field in China
Future growth field in China Medical PET-CT, X-ray CT, Dental, Blood testing Semiconductor manufacturing / Industrial inspecting instrument, Laser processing Analytical Environment(atmosphere, water, soil), Food-safety Fundamental science Academic experiment(neutrino, dark matter) Automated driving,
Slide 26: Future priority area in China
Future priority area in China Liaoning 7.11% Beijing 27.85% Shanghai 7.73% Jiangsu 8.01% Zhejiang 6.60% Anhui 9.55% Shaanxi Hubei Sichuan Chongqing 0-5 5-15 HPT 15-50 50-100 Guangdong 100+ (Unit : Million RMB) 21.02% 26
Slide 27: High-energy physics experiments using photomultiplier tubes
High-energy physics experiments using photomultiplier tubes Expected year Type Project Name Purpose Place of first delivery Number Neutrino, 40,000 Hyper-Kamiokande Japan 2020 Proton decay 7,000 Underground Complete an JUNO(Daya Bay II) Neutrino China 5,000 order Mediterran KM3NeT Neutrino ean Sea 2
Slide 28: PHOTON IS OUR BUSINESS
PHOTON 1S OUR BUSINESS www.hamamatsu.com Copyright © Hamamatsu Photonics K.K. All Rights Reserved.
Slide 29: Databook
Databook Second Quarter of Fiscal Year ending September 30, 2019 May 2019 Hamamatsu Photonics K.K. Tokyo Stock Exchange: 6965 www.hamamatsu.com A-1
Slide 30: Income statements (consolidated)
Income statements(consolidated) Unit :Million Yen FY2017 FY2018 FY2019 2nd half Year Year % 1st half 2nd half Year % 1st half % (Forecast) (Forecast) Net sales 130,495 100.0 73,074 71,264 144,338 100.0 74,413 71,886 146,300 100.0 Cost of sales 65,670 50.3 35,414 34,971 70,385 48.8 36,255 35,044 71,3
Slide 31: Sales by industry & application (consolidated)
Sales by industry & application(consolidated) Unit :Million Yen FY2017 FY2018 FY2019 March September March September March September Application nd 2 half Year 1st half 2nd half Year % 1st half 2nd half Year % 1st half % (Forecast) (Forecast) Medical instrument (X-ray CT, PET, 19,133 18,405 37,538 2
Slide 32: Major subsidiaries income statements
Major subsidiaries income statements (America, Europe, China) Unit: Thousand local currency Local currency(thousand dollars) Yen(million yen) American sales FY2018 FY2019 FY2018 FY2019 Account item company 2nd half nd 1st half 2 half Year Year 1st half ％ 2nd half ％ Year % 1st half % (Forecast) % (Fo
Slide 33: Sales by business segment (consolidated)
Sales by business segment (consolidated) Unit :Million Yen FY2017 FY2018 FY2019 st nd st 2 nd half Year Year 1 half 2 half Year 1 half (Forecast) (Forecast) Electron tube 50,449 28,725 29,056 57,781 30,000 28,999 59,000 Opto- semiconductor 61,526 34,560 32,934 67,494 34,018 32,431 66,450 Imaging and
Slide 34: Electron tube's performance
Electron tube's performance Unit :Million Yen FY2017 FY2018 FY2019 Year % 1st half % 2nd half % Year % 1st half % 2nd half % Year % (Forecast) (Forecast) Net sales 50,449 100.0 28,725 100.0 29,056 100.0 57,781 100.0 30,000 100.0 28,999 100.0 59,000 100.0 Cost of sales 22,762 45.1 12,592 43.8 12,749
Slide 35: Opto-semiconductor's performance
Opto-semiconductor's performance Unit :Million Yen FY2017 FY2018 FY2019 Year % 1st half % 2nd half % Year % 1st half % 2nd half % Year % (Forecast) (Forecast) Net sales 61,526 100.0 34,560 100.0 32,934 100.0 67,494 100.0 34,018 100.0 32,431 100.0 66,450 100.0 Cost of sales 33,264 54.1 18,025 52.2 17
Slide 36: Imaging & measurement instrument's performance
Imaging & measurement instrument's performance Unit :Million Yen FY2017 FY2018 FY2019 Year % 1st half % 2nd half % Year % 1st half % 2nd half % Year % (Forecast) (Forecast) Net sales 17,242 100.0 8,686 100.0 8,483 100.0 17,169 100.0 9,296 100.0 9,353 100.0 18,650 100.0 Cost of sales 8,764 50.8 4,175
Slide 37: Sales by product line 1
Sales by product line 1 Unit :Million Yen (Consolidated) FY2016 FY2017 FY2018 FY2019 2nd half Year Segment Product 1st half 2nd half Year 1st half 2nd half Year 1st half 2nd half Year 1st half (Forecast) (Forecast) PMT for medical inspection 3,217 2,924 6,142 3,068 3,334 6,401 3,673 3,435 7,108 3,97
Slide 38: Sales by product line 2
Sales by product line 2 Unit :Million Yen (Consolidated) FY2016 FY2017 FY2018 FY2019 2nd half Year Segment Product 1st half 2nd half Year 1st half 2nd half Year 1st half 2nd half Year 1st half (Forecast) (Forecast) Si photodiode for medical instrument 6,604 6,591 13,195 6,613 5,673 12,286 5,980 6,55
Slide 39: Capital investment, R & D expenses and depreciation
Capital investment, R & D expenses and depreciation Unit :Million Yen FY2015 – FY2019 FY2015 FY2016 FY2017 FY2018 FY2019 (Consolidated) Ratio to Ratio to Ratio to Ratio to Ratio to sales (%) sales (%) sales (%) sales (%) sales (%) 1st quarter 3,122 10.9 1,441 4.8 4,441 14.8 4,235 12.4 2,052 5.7 2nd
Slide 40: Group offices and subsidiaries worldwide
Asia North America HAMAMATSU PHOTONICS K.K. HAMAMATSU CORPORATION Headquarters Main Office / California Office / Chicago Office HAMAMATSU PHOTONICS (CHINA)Co., Ltd. / Boston Office Head Office / Shanghai Branch PHOTONICS MANAGEMENT Corp. / Shenzhen Branch ENERGETIQ TECHNOLOGY, Inc. BEIJING HAMAMATSU
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