Slide 1: CFO Presentation 2002 Q4 Results
2002 12 4 CFO 2003 2 4 1
Slide 2: 2
2
Slide 3: 2002 Q4 Highlights
4 2002 10 12 3
Slide 4: Q4 2002 Consolidated Results
( ) ( ) 2002 2001 ( ) 4 4 11,760 10,838 9% 638 796 -20% 11,122 10,042 11% 6,689 6,125 9% 4,433 3,916 13% 3,942 4,239 -7% 34% 39% 2,576 - - 2001 4 11,616 10,838 7% ( ) 4
Slide 5: Q4 Sales by Region
( ) ( ) 6,000 + 6% 5,006 5,000 4,706 4Q2001 4Q2002 4,000 + 16% - 5% 2,965 3,000 2,547 2,361 2,233 2,000 + 23% 910 1,117 + 40% 1,000 312 437 0 Japan US Europe Asia Pacific Others ( ) 5
Slide 6: Q4 Sales by Region (constant currency)
( ) 2001 4 ( ) 6,000 + 6% 5,006 4Q2001 5,000 4,706 4Q2002 4,000 +5% -4% 2,678 3,000 2,547 2,361 2,257 2,000 + 22% 910 1,115 + 79% 1,000 312 559 0 Japan US Europe Asia Pacific Others ( ) 6
Slide 7: Q4 Sales Mix by Region
( ) 4Q2001 4Q2002 10,838 11,760 3% 4% 8% 9% 43% 43% 24% 25% 22% 19% ( ) 7
Slide 8: Quarterly Trend 2001-2002
( ) ( ) 5,000 4,433 3,916 4,000 3,326 3,086 3,030 3,000 2,665 2,004 2,000 893 1,000 0 1Q2001 2Q2001 3Q2001 4Q2001 1Q2002 2Q2002 3Q2002 4Q2002 ( ) 8
Slide 9: Quarterly Ratios Trend
( ) 100% 95% 95% 95% 95% 95% 94% 94% 94% 93% 90% 1Q2001 2Q2001 3Q2001 4Q2001 1Q2002 2Q2002 3Q2002 4Q2002 40% 35% 36% 38% 35% 30% 31% 31% 29% 30% 25% 20% 14% 15% 10% 1Q2001 2Q2001 3Q2001 4Q2001 1Q2002 2Q2002 3Q2002 4Q2002 ( ) 9
Slide 10: Sales by Product Category
( ) ( ) 14,000 4Q2001 4Q2002 Internet sever 38% 39% 12,000 LAN 14% 16% 10,000 4,638 4,150 PC(consumer) 25% 21% 8,000 1,840 PC(enterprize), 23% 23% 6,000 1,535 others 4,000 2,700 2,526 Total 100% 100% 2,000 2,453 2,756 0 4Q2001 4Q2002 ( ) 10
Slide 11: Operating Expenses Q3 vs Q4 2002
( ) ( ) ** 8,000 3Q2002 4Q2002 7,000 836 830 R&D 12% 12% 6,000 2,126 Marketing 30% 30% 5,000 1,983 Sales 25% 29% 4,000 Support 14% 16% 1,762 3,000 1,925 Others 19% 13% 2,000 1,018 1,070 Total 100% 100% 1,000 1,364 881 0 3Q2002 4Q2002 ** ( ) 11
Slide 12: Headcount by Function
Sep - 2002 Dec - 2002 1,795 1,837 Others Others 224 Sales, 226 Marketing Sales, Technical Technical Marketing Support 610 + 42 Support (+ 2%) 351 624 342 Research, Development Research, Development 619 636 12
Slide 13: Operating Income Change Factors
( ) 74M 53M 117M 550M 77M 4M 4,433 M 3,942 M 3,937 M ( ) 13
Slide 14: Quarterly Trend Mar 2001 - Dec 2002
( ) ( ) 20,000 17,500 15,672 15,000 12,997 12,500 12,017 11,222 10,259 10,000 7,779 6,966 7,500 4,686 5,000 2,500 0 Mar-'01 Jun-'01 Sep-'01 Dec-'01 Mar-'02 Jun-'02 Sep-'02 Dec-'02 ( ) 14
Slide 15: FY2002 Results
2002 1 12 15
Slide 16: FY2002 Consolidated Results
( ) ( ) 2002 2001 42,979 31,326 37% 2,353 1,898 24% 40,625 29,427 38% 26,749 19,946 34% 13,876 9,481 46% 13,449 9,549 41% 31% 30% 7,892 2,421 226% 2001 42,035 31,326 34% ( ) 16
Slide 17: FY Sales by Region
( ) ( ) + 51% 20,000 18,346 FY2001 15,000 FY2002 12,114 + 43% + 7% 9,215 9,807 10,000 8,577 6,860 + 50% 4,208 5,000 2,803 + 44% 9701,401 0 Japan US Europe Asia Pacific Others ( ) 17
Slide 18: FY Sales by Region (constant currency)
2001 ( ) ( ) + 51% 20,000 18,346 FY2001 15,000 FY2002 12,114 + 5% + 32% 8,964 9,022 10,000 8,577 6,860 + 47% 5,000 4,110 + 64% 2,803 1,590 970 0 Japan US Europe Asia, Pacific Others ( ) 18
Slide 19: FY Operating Expenses
( ) ( ) ** 30,000 FY2001 FY2002 25,000 3,505 R&D 14% 13% 20,000 Marketing 19% 28% 7,405 2,755 Sales 31% 29% 15,000 3,810 Support 12% 14% 7,640 10,000 6,206 Others 24% 16% 2,459 3,855 5,000 Total 100% 100% 4,716 4,344 0 FY2001 FY2002 ** ( ) 19
Slide 20: FY Operating Income Change Factors
( ) 64 M 48 M 277 M 409 M 550 M 122M 88M 93M 13,876 M 13,449 M 13,431 M ( ) 20
Slide 21: Consolidated Balance Sheet: Assets
( ) ( ) 2002 2001 74,165 + 8,848 65,317 47,895 + 7,042 40,853 12,287 +6 12,280 4,044 + 835 3,209 1,150 - 1,379 2,529 ( ) 21
Slide 22: Consolidated Balance Sheet: Liabilities and Equity
( ) ( ) 2002 2001 37,081 + 2,665 34,416 3,683 + 676 3,006 15,672 + 5,413 10,259 11,500 - 3,000 14,500 37,084 + 6,183 30,901 7,257 + 423 6,833 12,119 + 883 11,236 19,870 + 7,892 11.978 ( ) 22
Slide 23: Deferred Revenue by Region
( ) ( ) 8,000 + 36% 6,897 Dec-2001 6,000 Dec-2002 5,085 + 48% + 109% 3,977 3,519 4,000 2,678 1,685 + 74% 2,000 939 + 26% 540 268 339 0 Japan US Europe Asia Pacific Others ( ) 23
Slide 24: Deferred Revenue by Region (constant currency)
2001 ( ) ( ) 8,000 + 36% 6,897 Dec-2001 6,000 Dec-2002 5,085 + 63% 4,364 + 95% 4,000 3,283 2,678 1,685 + 83% 2,000 988 + 78% 540 268 478 0 Japan US Europe Asia Pacific Others ( ) 24
Slide 25: Cash is King
Cash is King ( ) Total asset composition Cash - Bond Account receivable Other assets ( ) 25
Slide 26: Net Income
( ) ( ) 2002 2001 13,449 9,549 872 821 12,577 8,727 6% 9% ( ) 26
Slide 27: Income by Region
( ) ( ) 4,397 US 3,942 Euro Japan 739 Asia/ Oceania 370 Others 5,543 (5,279) US 1,468 Japan Euro (1,398) 2,617 Asia/ (2,481) Oceania 0 Others (0) ( ) 27
Slide 28: FY2002 Quarterly Outlook
FY2002 – 1H 2H – – , – Q4 – 28
Slide 29: 2003 Forecast
2003 2003 1 3 11,000 +13% 3,100 1,800 • 1 = 118 1 = 128 • • 20 29
Slide 30: Thank you!
Thank you! 30