Slide 1: Financial Results Briefing Material for the Fiscal Year Ended March 2024
Financial Results Briefing Material for the Fiscal Year Ended March 2024 JCU CORPORATION TSE Prime (Stock Code: 4975) May 10, 2024 Financial Results Briefing Material for FY3/24 1
Slide 2: Summary of Consolidated Financial Results for FY3/24
Summary of Consolidated Financial Results for FY3/24 Accounting Period of FY3/24 JCU (non-consolidated): April 1, 2023 to March 31, 2024 Overseas subsidiaries: January 1 to December 31, 2023 ◼ China: Despite a recovery trend in some PWB manufacturers, demand for high-performance electronic devices i
Slide 3: Summary of Financial Results for FY3/24
Summary of Financial Results for FY3/24 (Millions of yen) FY3/22 FY3/23 FY3/24 YoY Results Results Forecasts Results % Change Net sales 24,256 27,137 25,000 24,859 (8.4)% Operating profit 8,990 9,285 7,000 8,041 (13.4)% Ordinary profit 9,231 9,369 7,000 8,216 (12.3)% Profit attributable to owners of
Slide 4: Summary Consolidated Balance Sheet
Summary Consolidated Balance Sheet (Millions of yen) FY3/23 FY3/24 Current assets 36,646 40,831 Cash and deposits 24,180 27,037 Notes and accounts receivable-trade 8,526 10,171 Inventories 2,852 2,518 Non-current assets 8,255 8,810 Property, plant and equipment 6,081 6,165 Investments and other asse
Slide 5: Foreign Exchange Rates
Foreign Exchange Rates Foreign exchange sensitivity (as at the consolidated year): Changes of about 105 million yen in consolidated operating profit with 1% change in major currency rates listed below (Yen) FY3/24 FY3/25 FY3/23 1Q (Forecast) 2Q 3Q 4Q (Initial forecast) Chinese yuan (CNY) 19.48 19.34
Slide 6: Changes in Consolidated Operating Profit for FY3/24
Changes in Consolidated Operating Profit for FY3/24 (Millions of yen) 10,000 (YoY change) (2,357) ◼ Positive factors ◼ Negative factors (1,244) 403 3 82 5 8,000 620 6,000 Lower sales of chemicals Higher profit margin of chemicals currencies to JPY) (due to conversion from local Effects of exchange r
Slide 7: Forecasts for FY3/25
Forecasts for FY3/25 (Millions of yen) FY3/24 FY3/25 YoY% Change Results Forecasts Net sales 24,859 27,000 8.6% Operating profit 8,041 8,500 5.7% Ordinary profit 8,216 8,500 3.5% Profit attributable to owners of parent 5,530 5,900 6.7% Net income per share 216.95 yen 232.90 yen - Financial Results B
Slide 8: Changes in Consolidated Operating Profit (Forecast for FY3/25)
8 Operating Profit (forecast) FY3/25 (YoY) +459 8,500 Changes in Consolidated Operating Profit (Forecast for FY3/25) Exchange rate impact of gross profits 213 presented in financial statements of overseas subsidiaries Financial Results Briefing Material for FY3/24 (1,111) Increase in SG&A expenses ◼
Slide 9: Annual Consolidated Financial Results (By Segment)
Annual Consolidated Financial Results (By Segment) 30,000 60 27,137 27,000 0 0 24,866 2,608 24,860 3,000 25,000 35 24,256 0 50 23,120 0 1,718 22,319 1,307 Net Sales (Millions of yen) 3,178 2,000 4,796 27 21,192 1,435 Operating Margin (%) 3,194 9 2,936 1,783 20,000 2,035 40 1,345 1,429 1,324 1,092 34
Slide 10: Quarterly Consolidated Financial Results
Quarterly Consolidated Financial Results (Millions of yen) 8,000 2,657 3,000 2,640 2,660 7,000 2,410 2,364 2,500 2,276 2,289 1,965 2,020 1,940 6,000 1,716 2,000 1,379 Operating Profit 5,000 1,500 Net sales 4,000 1,000 3,000 500 2,000 0 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY3/22 2022/3 FY3/23 2023/3
Slide 11: Quarterly Consolidated Financial Results (By Segment)
Quarterly Consolidated Financial Results (By Segment) 8,000 7,584 7,648 70.0 6,957 6,414 6,434 6,348 60.0 6,137 6,187 6,160 6,000 5,517 5,639 5,225 50.0 Net Sales (Millions of yen) Operating Margin (%) 40.0 4,000 39.3 38.2 35.2 36.8 36.7 36.1 34.8 34.7 30.0 32.8 30.5 30.4 26.4 20.0 2,000 10.0 0 0.0
Slide 12: Consolidated Segment Results for FY3/24
Consolidated Segment Results for FY3/24 (Millions of yen) 29,000 29,000 前期4Q累計 FY3/23 24,528 23,000 21,681 (Breakdown) 23,000 (Breakdown) 2024年3月期4Q累計 FY3/24 Plating machines 2,359 Plating machines 2,490 Plasma system 123 Plasma system 537 Solar power related 126 Solar power related 151 17,000 17,00
Slide 13: Quarterly Sales of Chemicals in Japan and Overseas
Quarterly Sales of Chemicals in Japan and Overseas (Millions of yen) 6,000 84% 90% 79% 79% 81% 80% 80% 81% 81% 81% 78% 76% 78% 80% 5,000 70% 4,000 60% 50% 3,000 40% 2,000 30% 20% 1,000 10% 0 0% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/22 2022/3 FY3/23 2023/3 FY3/24 2024/3 国内 Japan 海外 Overseas 海外比率 Ov
Slide 14: Annual Sales of Chemicals, POP, Via Filling and Etching
Annual Sales of Chemicals, POP, Via Filling and Etching 12,000 10,000 9,407 9,624 8,876 8,055 8,005 8,000 7,729 7,675 6,098 6,000 5,571 4,961 5,177 5,057 5,004 4,597 4,000 2,860 2,351 2,337 1,812 1,784 1,695 1,831 2,000 0 2018/3 FY3/18 2019/3 FY3/19 2020/3 FY3/20 2021/3 FY3/21 2022/3 FY3/22 2023/3 F
Slide 15: Quarterly Sales of Chemicals for POP, Via Filling and Etching
Quarterly Sales of Chemicals for POP, Via Filling and Etching POP: Planting on Plastics, mainly for automotive components Via Filling: Additive for copper planting for printed-wiring boards and semiconductor package substrates, mainly for smartphones and PCs (Millions of yen) Etching: Additives for
Slide 16: Quarterly Sales of Chemicals by Region
Quarterly Sales of Chemicals by Region (Millions of yen) 3,000 2,500 2,000 1,500 1,000 500 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/22 2022/3 FY3/23 2023/3 FY3/24 2024/3 日本 Japan 1,092 1,152 1,150 1,166 1,117 1,177 1,173 1,043 1,009 1,038 1,028 884 中国 China 2,133 2,353 2,359 2,391 2,307 2,247 2,612
Slide 17: Quarterly Sales of Chemicals by Category
Quarterly Sales of Chemicals by Category (Millions of yen) Consolidated YoY 9% 5,000 QoQ 6% 4,219 4,304 4,304 4,195 4,129 3,991 3,862 3,974 3,829 4,000 3,513 3,404 (Chemicals for Electronic Components) Core Products: Via filling 3,053 PWBs, connectors, surface treatment 3,000 (plating) chemicals for
Slide 18: Quarterly Sales of Chemicals by Region: Japan
Quarterly Sales of Chemicals by Region (Millions of yen) Japan 1,000 YoY (17)% QoQ (12)% 800 743 752 744 733 707 674 654 617 638 604 584 600 513 400 466 418 432 426 444 409 399 412 384 405 400 370 200 QoQ (17)% YoY (13)% 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/22 2022/3 FY3/23 2023/3 FY3/24 2024/3
Slide 19: Quarterly Sales of Chemicals by Region: Overseas
Quarterly Sales of Chemicals by Region (Millions of yen) Overseas YoY 14% 4,500 QoQ 9% 4,000 3,597 3,682 3,467 3,474 3,559 3,390 3,500 3,258 3,245 3,086 2,839 2,766 3,000 2,449 2,500 2,000 YoY (14)% 1,500 QoQ (4)% 1,000 1,350 1,041 1,182 1,058 1,143 1,133 903 1,011 1,010 972 500 784 854 0 1Q 2Q 3Q 4
Slide 20: Quarterly Sales of Chemicals by Region: China
Quarterly Sales of Chemicals by Region (Millions of yen) China YoY 29% 2,400 QoQ 8% 1,945 2,000 1,804 1,742 1,749 1,662 1,649 1,492 1,535 1,509 1,600 1,404 1,426 1,154 1,200 YoY (16)% 800 QoQ (10)% 861 855 729 729 772 695 651 400 617 597 585 442 492 0 1Q 1Q 2Q 3Q 4Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2022/3 2023/
Slide 21: Quarterly Sales of Chemicals by Region: Taiwan
Quarterly Sales of Chemicals by Region (Millions of yen) Taiwan YoY (6)% 1,400 1,152 QoQ 17% 1,200 1,101 1,055 1,049 1,050 1,013 989 1,000 860 848 800 728 689 689 600 YoY 24% 400 QoQ 59% 200 4 4 5 4 4 3 5 4 3 2 3 5 0 1Q 1Q 2Q 3Q 4Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2022/3 2023/3 2024/3 ● Chemicals for Electronic
Slide 22: Quarterly Sales of Chemicals by Region: South Korea
Quarterly Sales of Chemicals by Region (Millions of yen) South Korea YoY 5% 600 546 564 550 553 QoQ (1)% 516 523 478 485 481 459 431 388 400 YoY 4% QoQ (11)% 200 113 127 129 123 113 107 109 97 100 101 85 91 0 1Q 1Q 2Q 3Q 4Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2022/3 2023/3 2024/3 ● Chemicals for Electronic Compone
Slide 23: Financial Results since Listing
Financial Results since Listing (Millions of yen) 30,000 10,000 24,800 27,000 Operating Profit & Profit 25,000 8,000 Net Sales 8,000 8,500 20,000 6,000 15,000 5,500 5,900 4,000 10,000 2,000 5,000 0 0 06/3FY3/07 FY3/06 07/3FY3/08 08/3 09/3 FY3/09 10/3 FY3/10 11/3 12/3 FY3/13 FY3/11 FY3/12 13/3 FY3/14
Slide 24: Capital Expenditures, Depreciation and R&D Expenses
Capital Expenditures, Depreciation and R&D Expenses Capital expenditures Depreciation R&D expenses and (Millions of yen) ratio of R&D expenses to net sales 6,000 1,200 1,600 10.0% 5,296 研究開発費 R&D Expenses 1,001 1,400 Ratio of R&D 1,350 5,000 1,000 研究開発費比率 Expenses 8.0% to Net Sales 1,200 1,061 4,000
Slide 25: FY3/25 Dividend Forecast
FY3/25 Dividend Forecast Dividends per share Interim dividend: 37 yen Plans to increase dividends for (Forecasts) Year-end dividend: 37 yen 15 consecutive fiscal years (Yen) 80 74 中間 Interim 期末 Year-end 70 70 66 60 57 +¥2 48.5 50 50 45 42.5 40 32.5 30 30 22.5 +¥2 20 13.75 10 10 6.75 7.125 7.5 0 We w
Slide 26: Efforts in Addressing ESG Challenges
Efforts in Addressing ESG Challenges JCU aims to become a global company that continues to grow in a sustainable fashion by addressing ESG challenges through its business activities. Environmental Development of environmentally responsible products ‒ Stamp type plating process equipment and chemical
Slide 27: Reference
Reference ⚫ Outline of the Next 50 Innovation 2nd ⚫ Company Profile ⚫ Surface Treatment Technology in Future ⚫ Major Distribution Channels ⚫ Major Products ⚫ Usages of Chemicals and Typical Final Products Financial Results Briefing Material for FY3/24 27
Slide 28: Review of the Next Innovation 2nd: Outcome and Issues
Review of the Next 50 Innovation 2nd｜Outcome and Issues Basic policy Outcome Issues ◼ Launched a new brand – the TIPHARES Series ◼ Further strengthen the lineup of products ◼ Made key products more competitive ◼ More activities for sales growth in current ◼ Initiated plan for constructing the Kumamo
Slide 29: JCU VISION 2035: New Guidelines and Goals
JCU VISION 2035｜New Guidelines and Goals Corporate Philosophy Explorer in Surface Engineering Management Vision Basic Policy Vision of the Aim to be a company to be proud of in the future, constantly taking on new challenges ► Big investments in growing markets JCU Group ► A stronger foundation and
Slide 30: JCU VISION 2035 1st stage: Performance Targets
JCU VISION 2035 －1st stage－｜Performance Targets JCU VISION 2035 1st stage (Millions of yen) FY3/24 FY3/25 FY3/26 FY3/27 FY3/35 (Results) (Plan) (Plan) (Plan) (Long-term target) Net sales 24,859 27,000 29,000 31,000 50,000 Operating profit 8,041 8,500 9,100 10,000 17,500 Profitability Ordinary profit
Slide 31: JCU VISION 2035 1st stage: Basic Policy
JCU VISION 2035 －1st stage－｜Basic Policy Big investments in growing A stronger foundation Use the DX for effective data markets utilization ◼ Faster development of surface ◼ Achieve the financial targets ◼ Become more competitive by treatment chemicals in key market recruiting and training data scie
Slide 32: Financial Strategy: Measures for Management with Emphasis on the Cost of Capital and Stock Price
Financial Strategy ｜Measures for Management with Emphasis on the Cost of Capital and Stock Price Financial condition ROE／% PBR／times ◼ The ROE has been between about 13% and 23%, which is higher than the cost 30 30.0% 6.0 of capital. ROE ◼ The PBR has been 2-4x but has been declining since FY3/21. P
Slide 33: Financial Strategy: Equity Policy
Financial Strategy ｜Equity Policy Treasury stock Dividend Total distribution 自己株式取得額 配当額 Dividend 配当性向 payout ratio 総還元性向 purchased ratio 75.9% JCU VISION 2035 －1st stage－ 49.2% Actions involving capital 50.3% 50% guideline 44.1% 46.9% for the total 44.9% shareholder distribution Shareholder Distrib
Slide 34: R&D: R&D Expenditures
R&D ｜ R&D Expenditures R&D (Millions of yen) R&D/Sales ratio (%) Next-generation market sectors 2,400 12.0% Markets Semiconductor advanced packages R&D expenditures 研究開発費 (RDL, Cu Pillar, TSV, Hybrid Bonding etc.) 売上高研究開発費率 R&D/Sales ratio 2,000 10.0% Locations R&D Center/ Kumamoto Manufacturing and
Slide 35: Sustainability Management: Materiality at JCU
Sustainability Management｜Materiality at JCU ◼ Workplace safety and hygiene; prevention of accidents ◼ Innovation for protecting the environment ◼ Improve the quality of products ◼ Protection and responsible use of natural resources ◼ Effectively utilize human resources ◼ Many activities to combat c
Slide 36: TOPICS: Kumamoto Manufacturing/Research Center
TOPICS｜Kumamoto Manufacturing/Research Center Kumamoto Manufacturing/Research Center Roles of the Kumamoto Manufacturing/Research Center R&D Rendering of the center More added value by stronger linkage of development, manufacturing and service 1 business units More linkage for efficient operations A
Slide 37: TOPICS: The TIPHARES Series of Surface Treatment Chemicals for Semiconductors
TOPICS｜The TIPHARES Series of Surface Treatment Chemicals for Semiconductors RDL (For rewiring layers) Pillars (Vertical electrodes) TSV (Through-silicon via) Hybrid bonding ◆ TIPHARES RDP ◆ TIPHARES BUP ◆ TIPHARES TVP ◆ Under development Sales started in FY3/24 Sales to start in FY3/25 Sales to sta
Slide 38: Company Profile
Company Profile Founded in : December 1957 Established on : April 1, 1968 Capital stock : 1,266 million yen Non-consolidated: 13.8 billion yen / Consolidated: 24.8 billion yen Annual sales : (For the fiscal year ended March 31, 2024) Head office : TIXTOWER UENO 16F, 8-1 Higashiueno 4-chome, Taito-ku
Slide 39: Surface Treatment Technology in Future: Electronic Components
Surface Treatment Technology in Future —Electronic Components— Target Next-generation IC-PKG boards for high-performance electronic devices, communications technology infrastructure, car electronics, etc. (1) Improve within wafer non-uniformity (2) Improve via filling for thin-film layer Schematic d
Slide 40: Surface Treatment Technology in Future: Decoration & Function
Surface Treatment Technology in Future —Decoration & Function— Target Automotive components (front grilles, door handles, emblems, etc.) technology Faucet parts (showerheads, drain plugs, etc.) (1) Restricted substance-free alternatives (2) Eco-friendly decorative copper plating process Surface trea
Slide 41: Major Distribution Channels
41 High-performance electronic Automobile manufacturers device manufacturers Manufacturers of Customers (sold-to) Substrate manufacturers automobile parts (Tier 1 , (in Japan, China, Taiwan, Tier 2) South Korea, etc.) Specialist plating Financial Results Briefing Material for FY3/24 companies Our ov
Slide 42: Major Products
Major Products Chemicals Business For decoration and Automotive parts (front grilles, door handles, emblems, etc.) function Faucet parts (water supply equipment, showerheads, drain plugs, etc.) (Key chemicals) Construction materials (bolts, nuts, etc.) For electronic PWBs (reversible and multilayer,
Slide 43: Usages of Chemicals and Typical Final Products
Usages of Chemicals and Typical Final Products Description of term Final products Surface treatment (plating) chemicals for decorative and rust-proofing purposes Automotive parts, faucet parts Chemicals for Function/decoration such as those for providing a metal appearance and preventing rust. and c
Slide 44: Disclaimer and Contact
This material contains current plans and forecasts of future performance of JCU CORPORATION. These plans and forecast figures are prepared by the Company based on currently available information. This material does not give any assurance or guarantee of the Company’s future financial performance and