Slide 1: Consolidated Results of the 1st Quarter FY2009
SUMIDA CORPORATION - Consolidated Results of the 1st Quarter FY2009 - 14th May, 2009 Shigeyuki Yawata, CEO Saburo Matsuda, CFO Copyright © 2009 SUMIDA CORPORATION. All Rights Reserved.
Slide 2: 1. Forex Volatility
1. Forex Volatility （Unit：yen） Average 2009 08.1Q 08.2Q 08.3Q 08.4Q 09.1Q in 2008 （Assumption） Assumption） JPY/USD 105.4 104.5 107.6 96.1 103.4 91.4 95.0 JPY/Euro 157.7 163.3 161.9 127.3 152.3 120.6 120.0 JPY/HKD 13.5 13.4 13.8 12.4 13.3 11.8 12.3 Copyright © 2009 SUMIDA CORPORATION. All Rights Rese
Slide 3: 2. Consolidated Results 1st Quarter 2009
2. Consolidated Results 1st Quarter 2009 （Unit：Millions of yen） 1st quarter 1st quarter 2009 2008 Difference Actual Actual Net Sales 8,579 14,835 (42.2%) Operating Income (1,345) 1,042 － Operating Income － 7.0% － Ratio Ordinary Income (1,057) 810 － Net Income (1,071) 502 － The results of 1st quarter
Slide 4: 3. Quarterly Consolidated Results
3. Quarterly Consolidated Results (Unit: Millions of yen） 2008 2009 1Q 2Q 3Q 4Q 1Q Net Sales 14,835 15,479 14,701 10,719 8,579 Operating Income 1,042 1,051 819 (745) (1,345) Operating Income Ratio 7.0% 6.8% 5.6% － － Ordinary Income 810 517 867 (2,340) (1,057) Net Income 502 (17) 531 (6,759) (1,071)
Slide 5: 4. Analysis of Sales
4. Analysis of Sales （Unit：Millions of yen） 2008 2009 1Q 2Q 3Q 4Q 1Q 2Q Magnetics 5,771 6,015 6,119 4,226 2,976 Automotive 2,630 2,811 2,654 1,910 1,668 Asia / Pacific 8,401 8,826 8,773 6,136 4,644 30%UP Business EU Business 6,434 6,653 5,928 3,423 3,247 2%UP Environmental / － － － 1,160 688 30%UP En
Slide 6: 5. Analysis of Operating Income
5. Analysis of Operating Income 《1Q Operating Income/Loss》 Asia / Pacific Business (174M yen) ・Effect of fixed cost reduction measures (incl. retrenchment of manufacturing and indirect workers) was reflected from March ・Fixed cost reduction of 100 million yen per month ・Profit achieved in March (in
Slide 7: 6. Change in Business Segments
6. Change in Business Segments 《In the past》 《From 1st quarter this year》 Coil Business Asia / Pacific Business VOGT Business EU Business /Component Business VOGT Business Environmental / Energy /EMS Business Business Considering product lines and similarity of markets, we classified our businesses
Slide 8: 7. Information by segments
7. Information by segments （Unit： Millions of yen） 1Q2009 1Q2008 Difference Net Sales 4,644 8,401 (3,757) Asia / Pacific Business Operating (174) 1,259 (1,433) I n c o m e Net Sales 3,247 6,434 (3,187) EU Business Operating (481) 442 (923) I n c o m e Net Sales 688 － － Environmental/ Energy Business
Slide 9: 8. Consolidated Balance Sheet
8. Consolidated Balance Sheet （Unit：Millions of yen） 1Q.09 4Q.08 Difference Current Assets Cash & deposits 9,536 10,855 (1,319) Current Liabilities Short term debt 17,635 18,174 (539) Long term debt due within 1 year 2,639 2,075 564 Bond － 8,200 (8,200) Fixed liabilities Bond 4,550 1,815 2,735 Long
Slide 10: 9. Goodwill
9. Goodwill （Unit：Millions of yen） End of December 2008 5,275 Directly deduct from retained Amortization of past years (1,629) earning at (from acquired to 2008） beginning of year Amortization in 1Q 2009 (69) Impact of FOREX 29 End of March 2009 3,606 Copyright © 2009 SUMIDA CORPORATION. All Rights
Slide 11: 10. Change of Net Assets
10. Change of Net Assets （Unit：Millions of yen） Net loss of 1st quarter (1,071) Retained earnings at the (1,808) beginning of year R&D (157) Goodwill (1,629) Others (22) Dividend payment (192) Gains / losses on heading 198 Translation adjustment 1,299 Valuable difference of other 51 marketable secur
Slide 12: 11. Capital Expenditure/Depreciation/R&D Expenses
11. Capital Expenditure/Depreciation /R&D Expenses （Unit：Millions of yen） 2009 Forecast 1Q 2009 Actual 1Q 2008 Actual Capital Expenditure 2,000 304 771 Depreciation (Including amortization of 3,600 821 810 goodwill) R&D Expenses 1,250 302 - Copyright © 2009 SUMIDA CORPORATION. All Rights Reserved.
Slide 13: 12. Forecast for Fiscal Year 2009
12. Forecast for Fiscal Year 2009 <Announced at 24th February 2009 （Unit：Millions of yen） 2009 Forecast 2008 Actual Difference Net Sales 47,600 55,734 (8,134) Operating 1,490 2,167 (677) Income Operating 3.1% 3.9% - Income Ratio Ordinary 890 (146) 1,036 Income Net Income 700 (5,743) 6,443 （Assumptio
Slide 14: Summary of Business Result – 1st Quarter FY2009
Summary of Business Result – 1st Quarter FY2009 (Mil Yen) Summary 1. Sales dropped in all business segments (Consumer, Automotive, Environmental/Energy). y/y decreased by 42.2%. Sales amount was at the same level as Dec FY08. Net Sales 8,579 However, number of purchasing order has been increasing si
Slide 15: Summary of 1st Quarter of FY2009
Summary of 1st Quarter of FY2009 Summary 1. 1. Market Market Environment Environment a．Consumer a．Consumer Electronics Electronics 44 quarter of FY08 th th quarter of FY08 to to Jan-Feb Jan-Feb FY09 FY09 was was thethe bottom bottom ->Recovery ->Recovery isis expected expected b. b. Automotive Autom
Slide 16: Measures to be implemented from 2nd Quarter
Measures to be implemented from 2nd Quarter Prospect Prospect and and measures measures to to be be implemented implemented from from the the 2 nd quarter 2nd quarter 1. 1. Enhance Enhance Global Global Sales Sales Function Function -> -> Assign Assign Executive Executive Officer Officer responsible
Slide 17: Measures to be implemented from 2nd Quarter
Measures to be implemented from 2nd Quarter Prospect Prospect and and measures measures to to be be implemented implemented from from the the 2nd 2nd quarter quarter 2. 2. Continue Continue fixed fixed cost cost management management in in order order to to further further lower lower the the break-
Slide 18: Outline of Concord Electronics Industries
Outline of Concord Electronics Industries Company Concord Electronics Industries Name Major Development, manufacturing and sales of high Business current transformers and reactors Major Headquarter: Saku City, Nagano Operation Japan: Nagano (R&D, Manufacturing, Sales) Sites Outside Japan: Vietnam (M
Slide 19: Advantages of acquiring Concord
Advantages of acquiring Concord 1. 1. Improvement Improvement of of new new product product development development speed speed Sales Breakdown of Concord Concord has similar product lineups with EIWA for Consumer and Industry Medical 30% Consumer /Industry Enables to accelerate manufacturing 70% sp
Slide 20: Forecast of FY2009
Forecast of FY2009 Asia / Pacific Business 2Q. 2009 ⇒ Turn into profit Ensure consolidated operating profit 3Q. 2009 ⇒ Settle operating loss recorded in 1Q Ensure consolidated operating profit 4Q. 2009 ⇒ With an accumulative operating profit Ensure consolidated 1.5 billion operating profit in FY2009
Slide 21: Basis of FY2009 Budget: Asia/Pacific Business
Basis of FY2009 Budget: Actual & Projection of Asia/Pacific Business (Unit: Mil Yen) ● ● 3,000 ● 2,500 ● Monthly Sales 2,000 ● ● ● ● ● 1,500 ● ● ● FY2008 FY2009 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Copyright © 2009 SUMIDA CORPORATION. All Rights Reserved.
Slide 22: Basis of FY2009 Budget: Sales of Asia/Pacific Business
Basis of FY2009 Budget: Sales of Asia/Pacific Business (Unit: Mil Yen) Quarterly break- even point 8,000 4,800 million yen 6,000 4,000 2,000 0 08.4Q 09.1Q 09.2Q Plan 09.3Q Plan 09.4Q Plan Sales Break Even Point Copyright © 2009 SUMIDA CORPORATION. All Rights Reserved.
Slide 23: Basis of FY2009 Budget: EU Business
Basis of FY2009 Budget: Actual & Projection of EU Business (Unit: Mil EUR） 10 ● Monthly Sales ● 9 ● ● ● ● ● ● 8 ● FY2008 FY2009 Oct Nov Dec Jan Feb Mar Apr May Jun Copyright © 2009 SUMIDA CORPORATION. All Rights Reserved.
Slide 24: Basis of FY2009 Budget: Operating Profit
Basis of FY2009 Budget: Operating Profit (Unit: Mil Yen) Maintain Maintain profit profit for for full full year year 2,000 1,500 1,000 500 ±0 0 1Q 2Q 3Q 4Q -500 -1,000 -1,500 -2,000 Offset Offset 1Q 1Q loss loss in in 3Q 3Q Copyright © 2009 SUMIDA CORPORATION. All Rights Reserved.
Slide 25: Trend of number of orders etc.
Trend of number of orders etc. Asia / Pacific Business (Million pcs) 200 175 150 125 May 100 Recovery 75 from March April 50 March 25 0 Jan- Apr- Jul- Oct- Jan- Apr- Jul- Oct- Jan- Apr- Jul- Oct- Jan- Apr- Jul- Oct- Jan- Apr- 05 05 05 05 06 06 06 06 07 07 07 07 08 08 08 08 09 09 No. of Order No. of
Slide 26: Change of total workers in China production sites
Change of total workers in China production sites Head count 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 Jan- Feb- Mar- Apr- M Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- 08 08 08 08 ay- 08 08 08 08 08 08 08 09 09 09 09 08 Copyright © 2009 SUMIDA CORPORATION. All Rights R
Slide 27: Overtime trend in China production sites
Overtime trend in China production sites Hour/head 140 120 92h 100 80 62h 60 40h 40 20 0 Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- 08 08 08 08 08 08 08 08 08 08 08 08 09 09 09 09 Copyright © 2009 SUMIDA CORPORATION. All Rights Reserved.
Slide 28: End of the Report
End of the Report Disclaimer The present slides are provided only to serve the purpose of disclosing information in your evaluation of the Company. Final decision on investments or similar decision is left to your absolute discretion. The Company disclaims responsibility or liability for any or all