Smk Corporation · TSE:6798
Smk — H1 FY2009 Earnings Presentation
50 slides from Smk's earnings presentation, Oct 29, 2009
Slide 1: Business Report for FY2009
1/50 Business Report for FY2009 From Apr. to Sep. 2009 SMK Corporation Oct, 2009
Slide 2: Outline of 1H Financial Statement
2/50 FY2009 Outline of 1H Financial Statement Director and Executive Vice President Hajime Yamada
Slide 3: Consolidated 1H Financial Result
3/50 ＜Consolidated＞1H Financial Result Income : Sales Amount : Million yen Million yen △27.6% 50,000 10,000 44,600 40,000 8,000 32,280 30,000 6,000 △17.7% 20,000 4,000 3,165 1,996 10,000 1,710 1,643 2,000 1,282 940 0 0 FY2008 FY2009 April-Sep April-Sep Net Sales Operating Income Ordinary Income Net
Slide 4: Consolidated Financial Highlights (Quarterly)
4/50 ＜Consolidated＞Financial Highlights (Quarterly) １．FY2009 Plan (Unit : Million Ye n) 1st Half Term 2nd Half Term Fiscal Term 1Q 2Q Total Total ( A pr.09-J une.09) ( J ul .09-Sep.09) ( A pr.09-Sep.09) (Oct.09 -Mar.10 ) ( A pr.09-Ma r.10) (Re su lt) (Re su lt) （ Re su lt) （Prospe ct) （ Prospe ct） ①
Slide 5: Trends in performance: Net Sales, Operating Income (Quarterly)
＜Consolidated＞Trends in performance 5/50 Net Sales,Operating Income (Quarterly) Unit : Net Sales Unit : Operating Income Million yen Million yen 25,000 1,500 23,423 1067 21,357 929 937 1,000 706 20,000 500 16,596 0 15,438 15,684 15,000 -500 -1,000 -825 12,704 -933 10,000 -1,500 FY2 0 0 8 FY2 0 0 8 F
Slide 6: Consolidated Sales Expenses
6/50 ＜Consolidated＞ Sales Expenses Unit : FY2008 FY2009 ( ) : percentage to Million yen Apr-Sep Apr-Sep sales amount [(Material costs＋Expenses for external manufacturing processing) 50,000 Material costs improved by 3.0%] 42,604 61.6%→58.6% -977 million yen (95.5%) Expenses external [Labor costs 1,1
Slide 7: Analysis of sales expenses
7/22 ＜Consolidated＞ Analysis of sales expenses Analysis of factors for increase/decrease of consolidated operating income [ FY2008 APR-SEP VS FY2009 APR-SEP ] Total Unit : Million yen -353 million yen 3,000 Factors for profit Factors for profit increase decrease 2,000 1,542 Total : 4,372 Total : -4,
Slide 8: Non-operating profit and loss
8/50 ＜Consolidated＞ Non-operating profit and loss ( ) : percentage to Exchange gain ÆExchange loss Unit : FY2008 FY2009 sales amount Million yen Apr-Sep Apr-Sep (Average rate/within a term) 1,169 Currency 1,500 …P/L reduction exchange (2.7%) 1．FY2008 profit/loss 2Q Average(08/Apr-Sep) 1,000 ¥105.95/
Slide 9: Extraordinary gain or loss
9/50 ＜Consolidated＞ Extraordinary gain or loss Unit : Million yen FY2008 FY2009 Apr-Sep Apr-Sep 100 △29 △140 50 59 36 Gain from sale of fixed 9 19 assets 0 △ 28 -50 △ 107 Loss from revalutaion investment securities -100 △ 157 Loss of disposed fixed -150 assets,etc -200 Others -250before Income 3,025
Slide 10: Consolidated Cash Position
10/50 ＜Consolidated＞ Cash Position Unit : Million yen ２００９／Mar ２００９／Sep Differential （Ａ） （Ｂ） （Ｂ－Ａ） Assets ５８，１６８ ５６，９３０ △１，２３８ Cash and cash equivalents ９，０８１ ９，０１３ △６８ Accounts receivable １４，８６４ １６，４１５ １，５５１ Inventories ６，２３５ ５，６２６ △６０９ Fixed assets ２３，８６５ ２２，６２２ △１，２４３ Liabilities ２９，０８８ ２７，２２７ △１
Slide 11: Consolidated Cash Flow Position
11/50 ＜Consolidated＞ Cash Flow Position Unit : Million yen FY2008 Apr-Sep FY2009 Apr-Sep Operating Cash Flow 3,270 5,494 Working capital -1,782 214 Income before income taxes 3,025 1,253 Depreciation 2,579 1,859 Others -552 2,168 Investing Cash Flow -2,714 -1,160 Free Cash Flow 556 4,334 Financing C
Slide 12: Consolidated Cash Dividend
12/50 ＜Consolidated＞ Cash Dividend End of 1st Half Year-end For fiscal year Previous forecast ¥0.00 per ¥6.00 per ¥6.00 per (announced Apr. 27th,2009) share share share Forecast as modified ¥8.00 per ¥8.00 per (announced Oct.26 th .2009) share share ¥0.00 per Result share ¥6.00 per ¥3.00 per ¥9.00 p
Slide 13: FY2009 2H Result and Prospect
13/50 FY2009 2H Result and Prospect President and COO Tetsuya Nakamura
Slide 14: Half Fiscal Term Performance (FY2007-FY2009/2H)
14/50 Half Fiscal Term Performance (FY2007-FY2009/2H) Unit : Million yen 50,000 8,000 44,031 43,628 44,600 45,000 7,000 40,000 6,000 34,720 5,000 35,000 32,000 32,280 3,904 4,000 30,000 3,807 3,165 28,142 2,337 3,000 25,000 2,018 1,710 1,600 2,000 1,996 1,282 20,000 1,847 1,643 1,757 423 1,400 1,260
Slide 15: Full Fiscal Term Performance (FY2007-FY2009)
15/50 Full Fiscal Term Performance (FY2007-FY2009) Sales Amount : Million yen Income : Million yen 100,000 8,000 90,000 87,659 7,000 80,000 6,000 72,742 70,000 70,000 5,654 67,000 5,000 4,327 60,000 4,000 3,300 50,000 3,400 3,000 2,200 40,000 2,200 2,000 2,094 1,029 1,500 1,500 30,000 1,000 238 20,0
Slide 16: Fiscal Term Sales & Operating Income Performance (FY2000-FY2009)
Fiscal Term Sales & Operating Income 16/50 Performance (FY2000-FY2009) Sales Amount : Income : Million yen 90,000 Million yen 87,659 12,000 Published number 11,000 80,000 72,742 10,000 70,000 66,438 67,000 9,000 60,000 8,000 7,000 50,000 5,654 6,000 5,166 40,000 4,134 4,290 5,000 3,494 3,400 4,000 3
Slide 17: 1H Net Sales by Market (FY2007-FY2009)
17/50 ＜Consolidated＞ 1H Net Sales by Market (FY2007-FY2009) 50,000 Sales Amount : -27.6% Million yen 44,031 44,600 45,000 705 928 3,282 -11.0% 2,919 40,000 4,756 4,387 +8.4% 32,280 35,000 418 30,000 -21.8% 1,691 +3.3% 3,718 18,432 19,044 25,000 -32.5% 20,000 12,860 15,000 3,556 +8.4% 3,856 -17.9% 3,
Slide 18: Video and Acoustic Parts Market 1H Sales
Video and Acoustic Parts Market ＜1H Sales＞ 18/50 ※Contrast with ＦＹ2008 1Ｈ Unit : Million yen 14,000 13,666 4 13,095 79.6%of previous ■FC (remote control) decreased 13,000 5 TP year Sales of Set Top Box 12,000 remote control dropped 11,000 10,424 others 10,000 8,949 Sales of remote FC 19 control for
Slide 19: Electrical Component Market 1H Sales
Electrical Component Market ＜1H Sales＞ 19/50 ※Contrast with ＦＹ2008 1Ｈ Unit : Million yen 82.1% of previous ■CS （connectors）decreased 3,856 year 4,000 Sales of ETC coaxial 3,556 connectors were brisk; 3,500 however, the sales of coaxial TP 3,166 connectors for commercially 3,000 available car navigat
Slide 20: Communication Parts Market 1H Sales
Communication Parts Market ＜1H Sales＞ 20/50 ※Contrast with ＦＹ2008 1Ｈ Unit : Million yen 19,044 20,000 18,432 67.5% of ■TP (touch panel）increased 9 58 TP previous 18,000 1,515 FC year Sales of capacitive touch 2,142 panel for domestic mobile 16,000 phones increased 14,000 12,860 ■FC （unit) decreased
Slide 21: Information Administration Equipment Parts Market 1H Sales
Information Administration Equipment 21/50 Parts Market 〈1HSales〉 ※Contrast with ＦＹ2008 1Ｈ Unit : Million yen 78.2% of 5,000 4,756 previous ■TP (touch panel）increased 34 year 4,387 Sales of ECR/POS touch TP panels increased 430 948 4,000 3,718 others 19 ■FC (remote control) decreased FC 2,925 1,224
Slide 22: Net Sales by Product Division (FY2007-FY2009)
Reference：＜Consolidated＞Net Sales by Product Division 22/50 (FY2007-FY2009) Unit : Million yen 50,000 1H 2H 44,031 44,600 43,628 45,000 2,282 2,799 2,974 40,000 34,720 35,000 15,974 16,543 32,280 16,968 4,659 30,000 4,404 28,142 2,343 25,000 14,332 12,996 20,000 11,827 15,000 25,775 25,258 23,686 10
Slide 23: Operating Income by Product Division (FY2007-FY2009)
Reference：＜Consolidated＞ Operating Income 23/50 by Product Division (FY2007-FY2009) Unit : Million yen 6,000 5,654 849 5,000 4,000 3,400 439 3,000 4,815 1,353 2,000 1,000 238 1,608 -10 754 0 -276 -239 FY2007 Result FY2008 Result FY2009 Plan -1,000 CS FC TP
Slide 24: Monthly booking Entry (FY2004~)
24/50 Monthly booking Entry (FY2004～） Unit : Million yen 9,000 8,000 FY2009 7,000 FY2008 FY2007 6,000 FY2006 5,000 FY2005 FY2009 FY2009 FY2004 4,000 3,000 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Slide 25: Monthly booking: Compared to last year
Monthly booking : Compared to last year 25/50 (With the average of electronic parts manufactures) Compared to last year （％） Reference: Daiwa Securities SMBC Co.Ltd Financial Research Center 30.0 20.0 SMK 10.0 Average of 18 electronics suppliers 0.0 08/1 08/2 08/3 08/4 08/5 08/6 08/7 08/8 08/9 08/10
Slide 26: Management Policy of SMK
26/50 Management Policy of SMK Basic Stance: Expansionary course accompanied by fair profit Technical and Product Active Investment Development Environmental Use of Photovoltaic power Business connectors, junction boxes Creating an Exciting Future
Slide 27: Presentation at CEATEC JAPAN 2009
27/50 Make a presentation of CEATEC JAPAN 2009 6th to 10th OCT, 2009 At Makuhari Messe
Slide 28: CS Division
28/50 CS Division SMIK,
Slide 29: CS Division
29/50 CS Division CS= Connection System 【Major Products】 ：Connector/Jack ■Connector ■Jack Coaxial Connector Pin Jacks FPC Connector Speaker Terminals Interface DC Power Supply Jacks Card Connector Connector Headphone Jacks
Slide 30: CS Division Net Sales, Operating Income
30/50 CS Division Net Sales, Operating Income (Consolidated) Sales Amount : 100 Million yen Operating Income : 100 Million yen 400 392 Net Sales 40 (78%) 306 Operating 300 Income 30 (213%) 200 (106%) 16.1 20 149 157 (123%) 8.9 100 7.5 7.2 10 0 FY2008 FY2009 FY2009 1H FY2009 2H Result Plan Result Pla
Slide 31: CS Division Transition of market-specific sales
CS Division Transition of market-specific sales 31/50 (Consolidated) Composition ratio：% 100% 3% 5% 4% 5% Industry Information Technology 72% 72% 69% 70% 50% Car 6% 9% 8% Electronics 7% 19% 17% 18% 18% Audio/Visual 0% FY2008 1H FY2008 2H FY2009 1H FY2009 2H Result Result Result Plan
Slide 32: CS Division Priority Approach Market/Priority Product
CS Division Priority Approach Market/Priority Product 32/50 Mobile Phones／Portable Equipment Market Card Connectors Board-to-Board Connector 2in1 3in1 combo-connectors 0.4mm pitch PB-4F 0.35mm pitch PB-35 H=0.8mm 0.35mm pitch More Complex Ultra-Small / Low Profile More Functional High-Speed Increase
Slide 33: CS Division Strategic markets/products
CS Division Strategic markets/products 33/50 Mobile Phone/ Ecology Market Portable Device Market Connectors 1.2mm Pitch Wire for to Board Crimping Photovoltaic Connectors Module 1.2mm Stacking Height Small items Lens Connector Waterproofing for Digital Camera Technique Connectors for LED Lightning C
Slide 34: CS Division FY2009 Policy
34/50 CS Division FY2009 Policy Priority Measures for Performance Improvement １．Thoroughly Implementation of the Crisis Proposal Measures ・Income Oriented POINT ・Speed Securing Profits Select ２．Pursuit of Efficiency and Focus ・Promote automation in China ・Diversion and generalization Total Entire Qu
Slide 35: FC Division
35/50 FC Division SMIK,
Slide 36: FC Division
36/50 FC Division FC=Functional Components 【Main products】： Switch/Keyboard/Control Panel/Bluetooth/Microphone Remote Control Unit/Camera Module ■SW (Switch) ■UN (Unit) Antenna Bluetooth Unit Control Panel Various types of switches (Microphone-free Bluetooth headset) ■RC (Remote Control) ■MD (Module
Slide 37: FC Division Net Sales, Operating Income
37/50 FC Division Net Sales, Operating Income (Consolidated) Sales Amount : 100 Million yen Operating Income : 100 Million yen 400 Net Sales 40 Operating 300 284 273 Income 30 200 20 13.5 130 143 100 6.9 6.6 10 0 0 -2.7 FY2008 FY2009 FY2009 1H FY2009 2H -100 -10 Result Plan Result Plan
Slide 38: FC Division Transition of market-specific sales
FC Division Transition of market-specific sales 38/50 (Consolidated) Composition ratio：% 100% 14% 13% 12% 13% Industry 22% Information 21% 23% 20% Technology 3% 3% Car 3% 5% Electronics 50% 62% 59% 64% 60% Audio/Visual 0% FY2008 1H FY2008 2H FY2009 1H FY2009 2H Result Result Result Plan
Slide 39: FC Division Priority Approach Market/Priority Product
FC Division Priority Approach Market/Priority Product 39/50 1 Dome Switch Midmount Horizontal Momentary Slide Push Switch Switch RF Remote Control Panel Push Lock T 0.4㎜MT Control Unit Switch Switch Long Stroke Push Remote Control Camera Module Switch Unit for Automotive
Slide 40: FC Division Strategic markets/products
FC Division Strategic markets/products 40/50 Antenna Coupler Thin Type Analog for Transfer JET Switch Long Life Switches ① T= 3.2mm type( WHA9400-1632F ） ② T= 2.6mm type( WHA9400-1626F ) Push Lock Thin Type Long ・Major Specifications Switch Stroke Push Switch Bonding Strength (S21) : -20dB min. Dime
Slide 41: FC Division Strategic markets/products
FC Division Strategic markets/products 41/50 Windows®7 compatible IR RF Transmission remote controlled + New Input Devise transmission/reception unit Featuring a capacitive type touch pad/Analog Switch Digital JOG Switch/3D Sensor ＋ Environment-responsive「Ecology」 Electric power saving・Less battery
Slide 42: FC Division FY2009 Policy
42/50 FC Division FY2009 Policy Sales：100 million yen 79% Sales Operating Profit ＜Protective Measures＞ 165 Reduction of material costs 130 143 and processing costs 118 Reduction of labor cost and 71% 6.9 6.6 budget 2.1 -4.8 ＜Aggressive Measures＞ FY2008 1H FY2008 2H FY2009 1H FY2009 2H Sales Increase
Slide 43: TP Division
43/50 TP Division SMIK,
Slide 44: TP Division
44/50 TP Division TP=Touch Panel 【Main products】 Resistance Capacitive Optical Touch Sensitive Touch Panel Panel Touch Panel
Slide 45: TP Division Net Sales, Operating Income
45/50 TP Division Net Sales, Operating Income (Consolidated) Sales Amount : 100 Million yen Operating Income : 100 Million yen 100 Net Sales 40 91 75 Operating 30 Income 51 50 44 47 20 25 10 4.4 2.3 2.1 0 0 ▲2.4 FY2008 FY2009 FY2009 1H FY2009 2H Result Plan Result Plan
Slide 46: TP Division Transition of market-specific sales
TP Division Transition of market-specific sales 46/50 (Consolidated) Composition ratio：% 100% 28% 26% Industry 43% 44% 5% 36% Information Technology 50% 39% 16% 52% Car 41% 38% Electronics 33% 0% FY2008 1H FY2008 2H FY2009 1H FY2009 2H Result Result Result Plan
Slide 47: TP Division Strategic Products
TP Division Strategic Products 47/50 Automotive Product Specification Film/Glass Touch Panel Film/Glass Glass/Glass Film/Glass（previous equivalents） Operating Temp. －30～85℃ －30～85℃ －20～70℃ Storage Temp. －40～95℃ －40～95℃ －40～85℃ Transparency 84～87％ 70～75％ 77～89％ Reflectance 7～11％ 1～10％ 8～20％ Resistanc
Slide 48: Capacitive Touch Panel: Potential by Applications
TP Division Strategic markets/products 48/50 Capacitive Touch Panel ~ Potential by Applications Unit: M pcs/Year 1,000 :Current target Mobile Phone Game Car Navi. Smart Phone 100 Dig. Audio Photo Flame PC 10 Portable DSC Navi. MFP 1 0 2 4 6 8 10 SMALL MEDIUM LARGE ※SMK Forecast
Slide 49: TP Division FY2009 Policy
49/50 TP Division FY2009 Policy In preparation for expanding market Expansion of sales １ Capacitance TP Resistance TP Concentrate heavily on main products Force feed back TP 市場攻略 Market capture For automobiles For mobile phone units For POS、ATM EU+ Asia Area From Japan to EU + U.S.A Japan + Asia are
Slide 50: Notice
50/50 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