Smk Corporation · TSE:6798
Smk — FY2014 1H Earnings Presentation
22 slides from Smk's earnings presentation, Oct 30, 2014
Slide 1: Business Report for FY2014
Business Report for FY2014 SMK Corporation 30 Oct,2014 1/22
Slide 2: Outline of 1H Financial Statement
FY2014 Outline of 1H Financial Statement Executive Vice President and CFO Kohei Ogaki 2/22
Slide 3: Consolidated Financial Result
<Consolidated> Financial Result （Unit : Million JPY） Net Sales FY2013 FY2014 FY2013 Income 4-9 10-3 4-9 40,000 4,000 34,881 32,171 30,915 30,000 2,828 3,000 Exchange Profit 2,420 575 1,988 1,893 Exchange Profit 20,000 978 2,000 1,678 1,423 1,125 Exchange Profit 10,000 2,253 845 1,000 648 342 1,442 5
Slide 4: Consolidated Analysis of Sales Expenses 1
<Consolidated> Analysis of Sales Expenses 1 Analysis of factors for increase/decrease （Unit : Million JPY） of consolidated operating income Total [ FY2013 4-9 vs FY2014 4-9 ] 3,000 -863 Million JPY Impact of Decrease exchange sales Business profit rate amount for previous 282 term -1,826 1,988 In cr
Slide 5: Consolidated Analysis of Sales Expenses 2
<Consolidated> Analysis of Sales Expenses 2 Analysis of factors for increase/decrease （Unit : Million JPY） of consolidated operating income Total [ FY2013 10-3 vs FY2014 4-9 ] 3,000 783 Million JPY In crease in 2,000 Labor costs and Decrease in Expenses Material costs and Business Increase and Amoun
Slide 6: Consolidated Sales Expenses
<Consolidated> Sales Expenses （Unit : Million JPY） FY2013 FY2013 FY2014 4-9 10-3 4-9 ( )：Sales ratio 40,000 32,893 30,573 31,046 Material cost (94.3%) (98.9%) (96.5%) Amount paid to subcontractors Labor cost 30,000 Expenses Depreciation 17,382 allowances 49.8%15,426 16,206 49.9% 50.4% 20,000 <Year-o
Slide 7: Consolidated Non-Operating Profit and Loss
<Consolidated> Non-Operating Profit and Loss Unit : Million yen FY2013 FY2013 FY2014 4-9 10-3 4-9 ( ): Percentage to 840 1,081 1,295 sales amount (2.4%) (3.5%) (4.0%) Increased exchange 1,500 Exchange profit. profit/loss 1. FY2013 4-9 2013/3 94.05 JPY/$ 1,000 2013/9 97.75 JPY/$ 978 Revenues Weak yen
Slide 8: Consolidated Extraordinary Gain or Loss
＜Consolidated＞ Extraordinary Gain or Loss Unit : Million yen FY2013 FY2013 FY2014 4-9 10-3 4-9 ( ): Percentage to △258 △399 11 sales amount 400 Gain from revaluation investment securities 224 90 33 2 20 9 0 11 △ 34 △ 10 Gain on reversal of △ 151 △ 129 △ 98 subscription rights to shares △ 142 Associa
Slide 9: Consolidated Segment Information
＜ Consolidated ＞ Segment Information Unit : Million yen FY2014 4-9 Reporting Segment TOTAL Other(*) （Consolidated gain CS Div. FC Div. TP Div. Total and loss exhibit） Net Sales 13,043 11,600 7,477 32,120 51 32,171 Segment gain or loss (Operating Deficit) 747 -418 792 1,121 4 1,125 FY2013 10-3 Report
Slide 10: Consolidated Half Term Performance
<Consolidated> Half Term Performance Unit : Million yen FY2013 FY2013 FY2014 FY2014 Net Sales 4-9 10-3 4-9 10-3 Income （Forecast） 4 0 ,0 0 0 4 ,0 0 0 34,881 33,829 32,171 30,915 3 0 ,0 0 0 2,828 3 ,0 0 0 2,420 1,988 2 0 ,0 0 0 1,893 2 ,0 0 0 1,678 1,423 1,380 1,275 1,125 1 0 ,0 0 0 822 1 ,0 0 0 648
Slide 11: Consolidated Financial Result
＜Consolidated＞ Financial Result Unit : Million yen FY2013 FY2014 （Forecast） Net Sales +0.3% Income 70,000 65,796 66,000 60,000 6,000 50,000 +3.0% 4,251 40,000 3,800 4,000 Exchange Profit Exchange Profit 1,420 762 30,000 2,541 2,500 2,330 2,400 20,000 2,000 2,831 3,038 10,000 0 0 Net Sales Operating
Slide 12: Consolidated Cash Position
＜Consolidated＞ Cash Position Unit : Million yen 2014/3 2014/9 Differential （Ａ） （Ｂ） （Ｂ－Ａ） Assets 56,235 57,896 1,661 Cash and cash equivalents 11,227 10,486 △741 14,681 16,088 1,407 Inventories 5,904 5,950 46 Fixed assets 21,010 21,532 522 Liabilities 24,759 25,180 421 9,660 11,034 1,374 Interest-bea
Slide 13: Consolidated Cash Flow Position
＜Consolidated＞ Cash Flow Position Unit : Million yen FY2013 4-9 FY2014 4-9 Cash Flow from operating activities 3,520 1,937 Working capital △384 △93 Income before income taxes 2,570 2,431 Depreciation 1,536 1,609 Others △202 △2,010 Cash Flow from investing activities △1,740 △1,862 Free Cash Flow 1,78
Slide 14: Annual Dividend
Annual Dividend Commemorative dividend for our 90th anniversary. End of the second End of year Annual quarter 7.00 JPY (Dividend 5.00 JPY) FY2014（Plan） ― 12.00 JPY (Commemorative dividend 2.00 JPY) FY2014（Result) 5.00 JPY ― ― FY2013 5.00 JPY 5.00 JPY 10.00 JPY 14/22
Slide 15: FY2014 1H Result and Prospect
FY2014 1H Result and Prospect President and COO Yasumitsu Ikeda 15/51
Slide 16: Net Sales by Production Div. (FY2011-FY2014)
Net Sales by Production Div. (FY2011～FY2014) Unit : Million yen 100.3% 80,000 ( )：Composition ratio 98.4% 70,000 65,796 67,100 66,000 134 157 172 60,000 55,340 54,475 15,093 14,447 91% 15,808 234 251 50,000 10,418 9,923 109% 40,000 22,438 25,238 24,473 22,049 18,803 30,000 20,000 98% 25,498 27,416 2
Slide 17: Operating Income by Production Div. (FY2011-FY2014)
Operating Income by Production Div. （FY2011～FY2014） Unit : Million yen Income ratio = Income/Net sales 4.0% 3.6% 3.5% 4,000 2,700 2,400 2,330 24 3,000 25 35 -1.6% 1,866 2,000 1,535 -2.1% 1,544 1,000 -853 9 -1,166 12 1,403 1,112 1,351 44 17 521 0 -312 -510 -963 -717 -1,430 -1,000 -154 -2,000 FY2011Re
Slide 18: Reference: Net Sales by Market (FY2011-FY2014)
Reference : Net Sales by Market（FY2011 ~FY2014） Net Sales: Million yen 80,000 ( )：Composition ratio 65,796 66,000 1,285 1,700 132% 60,000 55,340 54,475 14,046 15,500 110% 1,053 1,090 12,389 11,281 40,000 18,252 18,000 8,953 10,689 99% 6,306 7,425 8,825 9,200 104% 7,372 20,000 8,047 6,453 6,000 93% 1
Slide 19: Challenges of the 2nd Half in FY2014
Challenges of the 2nd HF in FY2014 • Ensure the sales in major markets • Enhance the sales into new markets • Proceed cost reduction activities • Strengthen the product development capabilities 19/22
Slide 20: Activities for Wearables
Activities for Wearables <Head-mount <Watch> <Eyeglass> <Bracelet> <Movie Camera> Display> Internal Connector I/O Connector Wireless Module B to B Connector High Battery Power Jack Bluetooth ® Smart Module Performance Connector BTS01 Series Pogo® Terminal Input Device Touch Panel Push Switch FPC Con
Slide 21: Fiscal Term Sales & Operating Income Performance (FY2001-FY2014)
Fiscal Term Sales & Operating Income Performance (FY2001～FY2014) Unit : Million yen Net Sales Income 100,000 12,000 87,659 90,000 79,074 10,000 80,000 72,742 71,860 64,371 66,000 70,000 60,753 66,438 61,914 65,796 8,000 62,814 58,133 55,340 60,000 5,654 54,475 6,000 5,166 50,000 4,1344,290 40,000 2,
Slide 22: Notice
Notice All information in this material concerning the forecast of business achievements, projections of general business conditions and our business strategies is dependent on our conclusion made to a normally foreseeable extent applying information reasonably accessible to us at the time of prepar