Jcu Corporation · TSE:4975
Jcu — 1H FY3/23 Earnings Presentation
28 slides from Jcu's earnings presentation, Nov 7, 2022
Slide 1: Financial Results Briefing Material for the First Half of FY Ending March 2023
Financial Results Briefing Material for the First Half of the Fiscal Year Ending March 2023 JCU CORPORATION TSE Prime (Stock Code: 4975) November 7, 2022 Financial Results Briefing Material for 1H FY3/23 1
Slide 2: Summary of Consolidated Financial Results for 1H FY3/23
Summary of Consolidated Financial Results for 1H FY3/23 Accounting Period of 1H FY3/23 JCU (non-consolidated): April 1 to September 30, 2022 Overseas subsidiaries: January 1 to June 30, 2022 China: Demand for PWBs for high-performance electronic devices other than smartphones increased with IoT an
Slide 3: Summary of Financial Results for 1H FY3/23
Summary of Financial Results for 1H FY3/23 (Millions of yen) 1H FY3/21 1H FY3/22 1H FY3/23 YoY Results Results Forecasts Results % Change Net sales 9,673 11,654 12,200 13,117 12.6% Operating profit 2,917 4,350 4,100 4,680 7.6% Ordinary profit 2,953 4,430 4,100 4,720 6.6% Profit attributable to owner
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 Chinese yuan (CNY) 16.36 16.66 16.78 17.03
Slide 5: Changes in Consolidated Operating Profit for 1H FY3/23
Changes in Consolidated Operating Profit for 1H FY3/23 (Millions of yen) ■ Positive factors (YoY change) ■ Negative factors +330 168 (274) 629 32 (17 ) (208) currencies to JPY) (due to conversion from local Effects of exchange rates for chemicals from the Machine Business Increase in gross profit Lo
Slide 6: Consolidated Financial Results
Quarterly Consolidated Financial Results (Millions of yen) 9,000 3,000 2,660 2,410 2,364 8,000 2,500 2,276 2,020 1,726 2,032 2,035 1,940 7,000 1,782 1,701 1,848 2,000 1,613 1,641 1,596 1,539 Operating Profit 6,000 1,377 1,278 1,500 Net sales 5,000 1,000 4,000 3,000 500 2,000 0 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3
Slide 7: Consolidated Financial Results (By Segment)
Quarterly Consolidated Financial Results (By Segment) 8,000 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 4,921 Net Sales (Millions of yen) 4,793 4,751 Operating Margin (%) 40.0 4,000 39.3 38.2 35.3 35.2 36.8 36.7 32.3 32.8 30.0 31.4 3
Slide 8: Consolidated Segment Results for 1H FY3/23
Consolidated Segment Results for 1H FY3/23 (Millions of yen) 13,500 13,500 12,122 前期2Q累計 1H FY3/22 11,500 11,068 11,500 (Breakdown) (Breakdown) 2023年3月期2Q累計 1H FY3/23 Plating machines 343 Plating machines 890 9,500 Plasma system 172 Plasma system 35 Solar power related 71 9,500 Solar power related 7
Slide 9: Quarterly Sales of Chemicals in Japan and Overseas
Quarterly Sales of Chemicals in Japan and Overseas (Millions of yen) 5,000 81% 4,000 80% 80% 80% 79% 79% 80% 78% 79% 79% 3,000 79% 78% 78% 78% 78% 78% 2,000 77% 76% 1,000 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2019/3 FY3/19 2020/3 FY3/20 2021/3 FY3/21 2022/3 FY3/22 2023/3 FY3/23 国内
Slide 10: Quarterly 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 2,500 2,345 2,270 2,179 2,111 2,179 2,105 1,9
Slide 11: Quarterly 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 FY3/19 2019/3 FY3/20 2020/3 FY3/21 2021/3 FY3/22 2022/3 FY3/23 2023/3 Japan 1,041 986 1,107 927 968 975 967 944 842 866 1,071 1,073 1,092 1,152 1,150 1,1
Slide 12: Consolidated Sales by Category
Quarterly Sales of Chemicals by Category YoY 12% (Millions of yen) Consolidated QoQ 8% 5,000 4,219 4,304 3,590 3,991 3,580 3,829 4,000 3,342 3,256 3,528 4,129 (Chemicals for Electronic Components) Core 3,192 3,359 3,108 3,169 3,141 Products: Via filling 2,912 3,513 PWBs, connectors, surface treatmen
Slide 13: Japan Sales by Region
Quarterly Sales of Chemicals by Region (Millions of yen) Japan YoY 0% 1,000 QoQ 2% 800 743 752 733 744 674 654 622 633 626 608 578 547 558 600 542 538 545 527 518 400 474 466 419 421 433 445 432 408 409 409 406 418 409 399 412 384 339 297 QoQ 13% 200 YoY 6% 0 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 1Q 2
Slide 14: Overseas Sales by Region
Quarterly Sales of Chemicals by Region (Millions of yen) Overseas YoY 15% 4,500 QoQ 9% 4,000 3,467 3,474 3,559 3,500 3,258 3,086 2,957 2,954 2,920 2,839 3,000 2,678 2,674 2,783 2,820 2,547 2,598 2,581 2,366 2,500 2,187 YoY (15)% 2,000 QoQ (12)% 1,500 1,000 1,182 1,064 1,041 1,058 1,143 1,011 500 914
Slide 15: China Sales by Region
Quarterly Sales of Chemicals by Region (Millions of yen) China YoY 11% QoQ 8% 2,000 1,742 1,662 1,649 1,491 1,492 1,535 1,447 1,465 1,500 1,404 1,200 1,337 1,315 1,198 1,227 1,171 1,171 YoY (31)% 973 1,017 QoQ (23)% 1,000 861 772 729 729 772 500 664 615 632 646 617 600 580 607 591 597 539 518 369 0
Slide 16: Taiwan Sales by Region
Quarterly Sales of Chemicals by Region (Millions of yen) Taiwan YoY 34% QoQ 10% 1,400 1,152 1,200 1,055 1,049 1,013 949 1,000 830 860 796 785 800 689 697 705 728 642 659 589 604 600 480 YoY (20)% 400 QoQ (10)% 200 17 25 23 24 17 23 42 54 51 3 4 5 4 4 5 4 4 3 0 2Q 3Q 4Q 1Q 1Q 3Q 4Q 1Q 2Q 4Q 1Q 2Q 3Q
Slide 17: South Korea Sales by Region
Quarterly Sales of Chemicals by Region (Millions of yen) South Korea 800 YoY 1% 676 657 QoQ 15% 574 573 564 600 546 550 503 516 523 482 470 487 478 431 451 412 426 400 YoY (28)% QoQ (29)% 200 129 113 127 107 90 86 84 87 97 85 92 106 85 91 76 77 73 74 0 3Q 4Q 1Q 2Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
Slide 18: Capital Expenditures, Depreciation and R&D Expenses
Capital Expenditures, Depreciation and R&D Expenses Capital expenditures Depreciation R&D expenses and (Millions of yen) ratio of R&D expenses to net sales 2,000 1,000 1,600 10.0% 1,825 研究開発費 1,800 900 R&D Expenses 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
Slide 19: 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 i
Slide 20: 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 21: 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 1H FY3/23 21
Slide 22: Company Profile
Company Profile Founded in : December 1957 Established on : April 1, 1968 Capital stock : 1,255 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 23: 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 24: 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 25: Major Distribution Channels
25 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 1H FY3/23 Specialist plating companies Our
Slide 26: 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 27: 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 28: Forward-looking statements 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