Taiyo Yuden Co., Ltd. · TSE:6976
Taiyo Yuden — FY2022 Earnings Presentation
21 slides from Taiyo Yuden's earnings presentation, May 9, 2023
Slide 1: Consolidated Financial Results
Consolidated Financial Results Year ended March 31, 2023 Katsuya Sase Chief of Management Planning Headquarters May 9, 2023 ©TAIYO YUDEN 2017
Slide 2: Financial Summary
Financial Summary FYE March 2023 Net sales declined 9% Y/Y and operating profit declined 53% Y/Y as a result of a decrease in production volume of smartphones, laptops, and other products, and the impact of inventory adjustments. Sales of capacitors fell 10% Y/Y. Although sales of products for use i
Slide 3: Summary of Consolidated Financial Results (Y/Y)
Summary of Consolidated Financial Results (Y/Y) ¥ in million FYE Mar 31, 2022 FYE Mar 31, 2023 Change Y/Y Net sales 349,636 100.0% 319,504 100.0% (30,132) (8.6)% Operating profit 68,218 19.5% 31,980 10.0% (36,238) (53.1)% Ordinary profit 72,191 20.6% 34,832 10.9% (37,358) (51.7)% Profit attributable
Slide 4: Factors behind Operating Income in FYE March 2023
Factors behind Operating Income in FYE March 2023 Operating profit (FYE Mar 2022) 68.2 Operating profit (FYE Mar Currency 2023) fluctuations 32.0 +25.6 Changes In fixed costs +0.4 (2.0) Effect from cost (14.7) reductions Impact of selling price (45.5) Effect from capacity utilization ©TAIYO YUDEN 20
Slide 5: Financial Results by Product Classification (Y/Y)
Financial Results by Product Classification (Y/Y) ¥ in million FYE Mar 31, 2022 FYE Mar 31, 2023 Change Y/Y Capacitors 230,383 65.9% 208,115 65.1% (22,268) (9.7)% Inductors 48,925 14.0% 52,866 16.5% 3,941 8.1% Integrated modules & 48,799 14.0% 32,581 10.2% (16,218) (33.2)% devices Others 21,527 6.2%
Slide 6: Financial Results by Product Classification (Y/Y)
Financial Results by Product Classification (Y/Y) ■ Capacitors ((9.7)% Y/Y) Sales remained strong for products used in automobiles where use of electronic components is increasing but decreased for products used in other applications. ■ Inductors (+8.1% Y/Y) Sales increased for products in a wide ra
Slide 7: Sales by Market Sector
Sales by Market Sector Consumer 100% products 10% 10% 9% 8% • TV 13% 12% 12% • Game console • Smart watch 14% 16% 15% 14% 14% 15% Information 80% 15% equipment • Tablet device • PC 25% • HDD, SSD 60% 32% 29% Communication 35% equipment 35% 42% • Smartphone 47% Automotive 40% 28% • ADAS 19% 22% • Met
Slide 8: Forecast of Consolidated Performance
Forecast of Consolidated Performance Year ending March 31, 2024 ©TAIYO YUDEN 2017
Slide 9: Full-Year Forecast
Full-Year Forecast FYE Mar 31, 2024 ¥ in million FYE Mar 31, 2023 Change Y/Y forecast Net sales 319,504 100.0% 322,000 100.0% 2,496 0.8% Operating profit 31,980 10.0% 15,000 4.7% (16,980) (53.1)% Ordinary profit 34,832 10.9% 14,000 4.3% (20,832) (59.8)% Profit attributable to owners of parent 23,216
Slide 10: Factors behind Operating Income in FYE March 2024
Factors behind Operating Income in FYE March 2024 Operating profit (FYE Mar 2023) 32.0 Effect from capacity utilization +24.2 Operating profit (FYE Mar 2024) 15.0 Effect from cost reductions +2.0 (5.0) Currency fluctuations (17.1) (21.1) Changes Impact of In fixed costs selling price ©TAIYO YUDEN 20
Slide 11: Full-Year Forecast by Product Classification
Full-Year Forecast by Product Classification FYE Mar 31, 2024 ¥ in million FYE Mar 31, 2023 Change Y/Y forecast Capacitors 208,115 65.1% 213,000 66.1% 4,885 2.3% Inductors 52,866 16.5% 51,000 15.8% (1,866) (3.5)% Integrated modules & 32,581 10.2% 30,000 9.3% (2,581) (7.9)% devices Others 25,941 8.1%
Slide 12: 1Q - Forecast by Product Classification
1Q - Forecast by Product Classification FYE Mar 31, 2024 FYE Mar 31, 2023 ¥ in million 1Q 4Q Forecast （Q/Q） Capacitors 47,225 (4)~±0% Inductors 10,748 (13~9)% Integrated modules & devices 7,786 (5~1)% Others 6,697 (7~3)% Total net sales 72,458 (6~2)% Yen/USD (Assumption) 132.75 yen average exchange
Slide 13: Shareholder Return Policy
Shareholder Return Policy Annual cash dividends per 20 20 21 26 40 80 90 90 share (yen) Basic earnings per share 46.08 138.80 189.93 143.04 227.99 433.46 186.32 64.20 (yen) Aim to achieve a stable dividend payout ratio of 30% ©TAIYO YUDEN 2017 13
Slide 14: Supplementary Information
Supplementary Information ©TAIYO YUDEN 2017
Slide 15: Impact of International Situation, COVID-19 and Other Factors
Impact of International Situation, COVID-19 and Other Factors Shipments were sluggish in the first and third quarters of FYE Sales March 2023 given the impact of lockdowns in some regions as a countermeasure to COVID-19. Although procurement costs are rising and procurement lead Procurement times in
Slide 16: Consolidated Earnings Trends (Quarterly)
Consolidated Earnings Trends (Quarterly) FYE Mar 31, 2022 FYE Mar 31, 2023 ¥ in million 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Net sales 83,836 88,833 89,840 87,125 81,740 86,272 79,032 72,458 Capacitors 53,209 59,035 59,787 58,352 54,583 56,438 49,867 47,225 Inductors 11,386 12,863 12,957 11,717 11,748 15,156 15,
Slide 17: Consolidated Earnings Trends (Quarterly)
Consolidated Earnings Trends (Quarterly) Net sales ©TAIYO YUDEN 2017 17
Slide 18: Orders Received and Order Backlog Trends (Quarterly)
Orders Received and Order Backlog Trends (Quarterly) (¥ in billion) ■ Capacitors ■ Inductors ■ Integrated modules & devices ■ Others ©TAIYO YUDEN 2017 18
Slide 19: Consolidated Financial Condition
Consolidated Financial Condition (¥ in billion) 600 80% 500 Total assets 400 70% Net assets 300 200 60% Equity-to-asset ratio (right scale) 100 0 50% 17/3 18/3 19/3 20/3 21/3 22/3 23/3 (¥ in billion) (¥ in billion) 125 25 100 20 Cash and deposits 75 15 50 10 Interest-bearing 25 5 debt 0 0 Net cash (
Slide 20: Forward-looking statements
Forward-looking statements This document contains information about the plans, business results, and strategies of TAIYO YUDEN CO., LTD. and the TAIYO YUDEN Group. These forward-looking statements other than historical facts represent judgments made by the Company based on information available at p
Slide 21: ©TAIYO YUDEN 2017
TAIYO YUDEN @©TAIYO YUDEN 2017