Japan Display Inc. · TSE:6740
Japan Display — Q3 FY2019 Earnings Presentation
13 slides from Japan Display's earnings presentation, Apr 13, 2020
Slide 1: Third Quarter of FY 2019 Consolidated Financial Results
Third Quarter of FY 2019 (October 1 to December 31, 2019) Consolidated Financial Results Japan Display Inc. April 13, 2020
Slide 2: Q3-FY19 Summary and Outlook for Q4-FY19
Q3-FY19 Summary and Outlook for Q4-FY19 Q3 Results Sales ・・・・・・・・ Lacking a strong demand for shipments of new smartphone products as in Q3 in the previous fiscal year, sales in the current period (Q3) decreased by 101 BJPY YoY (down approx. 40%) Op. Income・・・ Although sales decreased significantly
Slide 3: Quarterly Sales by Region & Business Category
Quarterly Sales by Region & Business Category Quarterly Sales Trend Sales Status per Category (Billion Yen) US / Euro ■ Mobile Category China Mobile • The strong increase in demand for new 251.1 Other regions products shown in Q3-FY18 did not Non-mobile materialize in the current period & together A
Slide 4: Consolidated Operating Results
Consolidated Operating Results (Billion yen) Q3-FY18 Q2-FY19 Q3-FY19 YoY Chg. QoQ Chg. revised revised Net sales 150.0 251.1 (101.0) －40.2% 147.3 +2.7 ＋1.8% Cost of sales 139.1 234.8 (95.7) －40.8% 146.2 (7.1) －4.9% Gross profit (loss) 10.9 16.2 (5.3) －32.7% 1.1 +9.8 ＋879.8% 7.3% 6.5% 0.8% SG&A 8.4 1
Slide 5: Consolidated Operating Profit Change Factors
Consolidated Operating Profit Change Factors Billion yen vs. Previous Year (Q3-FY18) vs. Previous Quarter (Q3-FY19) Sales Sales Sales Sales 251.1 150.0 147.3 150.0 Op. Effects of Op. Op. Op. Income structural reforms Income Loss Income +4.3 ＋3.5 +2.5 (8.1) ＋4.9 ＋0.2 ＋0.4 +2.5 ＋13.1 (0) (0.6) ＋3.8 ＋1
Slide 6: Consolidated Balance Sheet
Consolidated Balance Sheet (Billion yen) 3/2019 6/2019 9/2019 12/2019 revised revised revised Cash and deposits 69.0 43.7 56.8 49.1 Accounts receivable - trade 92.2 60.9 96.3 78.0 Accounts receivable - other 49.7 40.2 74.9 64.8 Inventories 70.9 58.6 45.5 43.5 Other 8.8 8.0 8.6 8.7 Total current asse
Slide 7: Consolidated Cash Flows
Consolidated Cash Flows (Billion yen) FY2019 1-3Q Q1-FY19 Q2-FY19 Q3-FY19 (nine-months) Income before income taxes (78.9) (24.1) (6.3) (109.3) Dep. & Amort. 7.1 4.2 4.8 16.1 Working capital (2.8) (12.9) 5.2 (10.5) Advances received (8.2) (2.1) (1.4) (11.7) Structural reform cost 47.7 12.0 2.5 62.2 O
Slide 8: Status of Measures Addressing Major Issues of FY 2019
Status of Measures Addressing Major Issues of FY 2019 Structural reforms, fundraising, elimination of negative net assets and steady progression towards profitability ✓ Strengthening the financial foundation ✓ Fundraising of 50.4 BJPY - Ensuring capital injection and through Ichigo Trust (March 26)
Slide 9: Continued Support by INCJ (Refinancing)
Continued Support by INCJ (Refinancing) Improving the financial structure by completing the refinancing with INCJ 2020/03/25 2020/3/26 Extr. SH Meeting Refinancing Short-Term Loan Long-Term Loan Short Term Loan 40 BJPY Equity （①2019/8/7：20 BJPY, ②2019/9/2：20 BJPY） 3.7 BJPY Subordinated Loan 30 BJPY
Slide 10: Net Assets: Strengthening the Financial Foundation
Strengthening the Financial Foundation Elimination of negative net assets and drastic reduction of interest bearing debt (Unit: Billion yen） Net Assets ＋21.8 95.0 ＋102.0 ＋29.1 ＋50.4 (Note 1) (108.3) Class B Substitute Class A Q3-End Sale of After issuance preferred payment preferred equipment of pre
Slide 11: Impact of Covid-19 and Countermeasures
Impact of Covid-19 and Countermeasures Focusing countermeasures on the risk of reduced demand & potential impact on production lines due to a global recession by continuing to: ① minimize opportunity losses & excess inventories with flexible production ② expand available fundraising options Impact C
Slide 12: Tasks and Strategies Aimed at Sustainable Growth
Tasks and Strategies Aimed at Sustainable Growth Enhancing efficiency and cost competitiveness to enable the transformation into the No. 1 company in target markets Tasks Overall Strategy ✓ Securing the top line Total strengthening of business Strengthen the business that profitability sustains the
Slide 13: Forward Looking Statement
Forward Looking Statement: Any information related to market trends or industries mentioned in this document is based on information available at present and JDI does not guarantee that this information is accurate or complete. Any plan, estimation, calculation, quotation, evaluation, prediction, ex