Jcu Corporation · TSE:4975
Jcu — Q3 FY3/23 Earnings Presentation
29 slides from Jcu's earnings presentation, Feb 3, 2023
Slide 1: Financial Results Briefing Material for the Third Quarter of FY Ending March 2023
Financial Results Briefing Material for the Third Quarter of the Fiscal Year Ending March 2023 JCU CORPORATION TSE Prime (Stock Code: 4975) February 3, 2023 Financial Results Briefing Material for 3Q FY3/23 1
Slide 2: Summary of Consolidated Financial Results for 3Q FY3/23
Summary of Consolidated Financial Results for 3Q FY3/23 Accounting Period of 3Q FY3/23 JCU (non-consolidated): April 1 to December 31, 2022 Overseas subsidiaries: January 1 to September 30, 2022 China: While demand for PWBs for other high-performance electronic devices subsided after having increa
Slide 3: Summary of Financial Results for 3Q FY3/23
Summary of Financial Results for 3Q FY3/23 (Millions of yen) YoY 3Q FY3/22 3Q FY3/23 % Change Net sales 17,841 20,702 16.0% Operating profit 6,626 7,320 10.5% Ordinary profit 6,743 7,398 9.7% Profit attributable to owners of parent 4,620 5,154 11.5% Net income per share 176.47 yen 198.86 yen - Finan
Slide 4: Foreign Exchange Rates
Foreign Exchange Rates Foreign exchange sensitivity (as at the consolidated year): Changes of about 90 million yen in consolidated operating profit with 1% change in major currency rates listed below (Yen) FY3/22 FY3/23 (Initial 1Q 2Q 3Q 4Q forecast) 1Q 2Q 3Q Chinese yuan (CNY) 16.36 16.66 16.78 17.
Slide 5: Changes in Consolidated Operating Profit for 3Q FY3/23
Changes in Consolidated Operating Profit for 3Q FY3/23 (Millions of yen) 9,000 ■ Positive factors (YoY change) ■ Negative factors 8,000 +694 395 (388) 1,114 53 7,000 (75) (405) 6,000 from the Machine Business Increase in gross profit SG&A currencies to JPY) (due to conversion from local Effects of e
Slide 6: Consolidated Financial Results
Quarterly Consolidated Financial Results (Millions of yen) 9,000 3,000 2,660 2,640 8,000 2,410 2,364 2,500 2,276 2,032 2,035 2,020 1,940 7,000 1,782 1,848 2,000 1,726 1,701 1,613 1,641 1,596 1,539 Operating Profit 6,000 1,377 1,500 1,278 Net sales 5,000 1,000 4,000 500 3,000 0 3Q 1Q 2Q 4Q 1Q 2Q 3Q 4
Slide 7: Consolidated Financial Results (By Segment)
Quarterly Consolidated Financial Results (By Segment) 8,000 7,584 70.0 6,599 6,414 6,957 6,479 6,471 60.0 6,298 6,137 6,187 6,160 5,836 5,751 5,767 6,000 5,517 5,317 5,391 50.0 4,793 4,921 Net Sales (Millions of yen) 4,751 Operating Margin (%) 40.0 4,000 39.3 38.2 35.3 35.2 36.8 36.7 34.8 30.0 31.4
Slide 8: Consolidated Segment Results for 3Q FY3/23
Consolidated Segment Results for 3Q FY3/23 (Millions of yen) 20,500 20,500 18,684 17,500 16,972 (Breakdown) 17,500 (Breakdown) Plating machines 498 Plating machines 1,814 前期3Q累計 3Q FY3/22 Plasma system 246 Plasma system 107 14,500 Solar power related 125 14,500 Solar power related 97 2023年3月期3Q累計 3Q
Slide 9: Sales of Chemicals in Japan and Overseas
Quarterly Sales of Chemicals in Japan and Overseas (Millions of yen) 6,000 81% 81% 5,000 80% 80% 80% 79% 80% 79% 79% 78% 79% 79% 78% 4,000 78% 78% 78% 78% 77% 76% 3,000 2,000 1,000 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2019/3 FY3/19 2020/3 FY3/20 2021/3 FY3/21 2022/3 FY3/22 2023
Slide 10: Sales of Chemicals for POP and Via Filling
Quarterly Sales of Chemicals for POP and Via Filling (Millions of yen) POP: Planting on Plastics, mainly for automotive components Via Filling: Additive for copper planting for printed-wiring boards, mainly for smartphones and PCs 3,000 2,517 2,515 2,519 2,516 2,500 2,345 2,270 2,179 2,179 2,111 2,0
Slide 11: 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 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2019/3 FY3/19 2020/3 FY3/20 2021/3 FY3/21 FY3/22 2022/3 FY3/23 2023/3 日本 Japan 1,041 986 1,107 927 968 975 967 944 842 866 1,071 1,073 1,092 1,152 1,1
Slide 12: Sales of Chemicals by Category
Quarterly Sales of Chemicals by Category (Millions of yen) Consolidated YoY 2% QoQ 0% 5,000 4,304 4,304 4,219 4,129 3,991 3,829 4,000 3,590 3,580 3,528 3,513 (Chemicals for Electronic Components) Core 3,342 3,359 Products: Via filling 3,169 3,256 3,192 3,141 3,108 PWBs, connectors, surface treatment
Slide 13: Sales of Chemicals by Region: Japan
Quarterly Sales of Chemicals by Region (Millions of yen) Japan YoY (6)% 1,000 QoQ (5)% 800 743 752 733 744 707 674 654 622 633 626 608 578 600 547 558 538 545 518 542 527 400 474 466 466 433 445 432 419 408 409 421 409 406 418 409 399 412 384 339 297 QoQ 8% 200 YoY 17% 0 2Q 1Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2
Slide 14: Sales of Chemicals by Region: Overseas
Quarterly Sales of Chemicals by Region (Millions of yen) Overseas YoY 4% 4,500 QoQ 1% 4,000 3,467 3,474 3,559 3,597 3,500 3,258 3,086 2,957 2,954 2,920 2,783 2,820 2,839 3,000 2,678 2,674 2,598 2,547 2,581 2,366 2,500 2,187 YoY 50% 2,000 QoQ 34% 1,500 1,000 1,350 1,182 914 1,018 970 976 1,064 1,041
Slide 15: Sales of Chemicals by Region: China
Quarterly Sales of Chemicals by Region YoY 0% (Millions of yen) China QoQ 6% 2,000 1,742 1,749 1,662 1,649 1,491 1,492 1,535 1,447 1,465 1,500 1,404 1,337 1,315 1,200 1,198 1,227 1,171 1,171 YoY 39% 973 1,017 1,000 QoQ 43% 861 855 772 729 729 772 500 664 632 646 617 600 580 615 607 591 597 539 518 3
Slide 16: Sales of Chemicals by Region: Taiwan
Quarterly Sales of Chemicals by Region (Millions of yen) Taiwan 1,400 1,152 1,200 1,101 1,055 1,049 1,013 949 1,000 830 860 QoQ (5)% 796 785 800 697 705 728 689 659 642 YoY 9% 589 604 600 480 400 YoY 2% QoQ 60% 200 17 25 23 24 17 23 42 54 51 3 4 5 4 4 5 4 4 3 5 0 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
Slide 17: Sales of Chemicals by Region: South Korea
Quarterly Sales of Chemicals by Region (Millions of yen) South Korea 800 YoY 6% 676 657 QoQ 1% 574 573 564 600 546 550 553 516 523 503 487 482 470 478 451 412 431 426 400 YoY 28% QoQ 19% 200 127 129 97 106 113 107 109 90 86 84 87 76 77 73 85 74 92 85 91 0 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
Slide 18: 3Q Progress Rate against FY3/23 Forecasts
3Q Progress Rate against FY3/23 Forecasts (Millions of yen) FY3/23 Forecasts Progress rate against 3Q FY3/23 (Revised on May 11, full-year forecast 2022) Net sales 20,702 26,500 78.1% Operating profit 7,320 9,100 80.4% Ordinary profit 7,398 9,100 81.3% Profit attributable to owners of parent 5,154 6
Slide 19: Capital Expenditures, Depreciation and R&D Expenses
Capital Expenditures, Depreciation and R&D Expenses Capital expenditures Depreciation R&D expenses and ratio of R&D expenses to net sales 2,000 1,000 1,600 10.0% 1,825 研究開発費 R&D Expenses 1,800 900 1,400 研究開発費比率 Ratio of R&D expenses 1,600 800 751 to net sales 8.0% 1,200 1,140 1,400 700 606 619 998 1
Slide 20: Dividend Forecast
Dividend Forecast Dividends per share Interim dividend: 33 yen Plans to increase dividends for (Forecasts) Year-end dividend: 33 yen 13 consecutive fiscal years 70 66 60 57 中間 Interim 期末 Year-end 48.5 50 +¥33 50 45 42.5 40 32.5 30 30 22.5 +¥33 20 13.75 10 10 6.75 7.125 7.5 0 We will continue to make
Slide 21: 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 ‒ Hexavalent chromium-free process for automotive c
Slide 22: Reference
Reference ●Company Profile ●Surface Treatment Technology in Future ●Major Distribution Channels ●Major Products ●Usages of Chemicals and Typical Final Products Financial Results Briefing Material for 3Q FY3/23 22
Slide 23: Company Profile
Company Profile Founded in : December 1957 Established on : April 1, 1968 Capital stock : 1,245 million yen Non-consolidated: 12.7 billion yen / Consolidated: 24.2 billion yen Annual sales : (For the fiscal year ended March 31, 2022) Head office : TIXTOWER UENO 16F, 8-1 Higashiueno 4-chome, Taito-ku
Slide 24: 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 25: 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 26: Major Distribution Channels
26 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.) Financial Results Briefing Material for 3Q FY3/23 Specialist plating companies Our
Slide 27: Major Products
Major Products Chemicals Business For decoration and Automotive parts (front grilles, door handles, emblems, etc.) rust-proofing Faucet parts (water supply equipment, showerheads, drain plugs, etc.) (Key chemicals) Construction materials (bolts, nuts, etc.) For electronic PWBs (reversible and multil
Slide 28: 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 Key chemicals such as those for providing a metal appearance and preventing rust. and construction material
Slide 29: 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