Slide 1: Review of 4Q & FY2012 Results
Review of 4Q & FY2012 Results Shigeyuki Yawata CEO Copyright© 2012 SUMIDA CORPORATION. All rights reserved.
Slide 2: FY 2012 Consolidated Financial Results
FY 2012 Consolidated Financial Results Despite of unfavorable conditions of the yen appreciation, profit decrease was minimized with changes of operational portfolio and cost savings. Millions of Yen FY 2011 FY 2012 Change Sales 52,759 51,300 -1,459 -2.8% Operating Income 2,110 1,706 -404 -19.1% % 4
Slide 3: Sales by Market Segment
Sales by Market Segment Total sales declined, but firm sales in strategically important markets （Million Yen） Au t o mo t ive Co n su me r Ele c t r o n ic s I n du str y 1 6 ,0 0 0 • Automotive 1 4 ,0 0 0 – Steady growth in Japan and Europe 1 2 ,0 0 0 – Share % in total sales rose to 55.8% 1 0 ,0 0
Slide 4: Sales by Region
Sales by Region （Million Yen） Japan Asia Eu r o pe No r t h Ame r ic a 5 ,0 0 0 • North America 4 ,5 0 0 4 ,0 0 0 - Strong demand for automotive 3 ,5 0 0 3 ,0 0 0 products assisted by expansion of 2 ,5 0 0 distributor network 2 ,0 0 0 1 ,5 0 0 • Japan 1 ,0 0 0 500 – Automotive sales making up for 0
Slide 5: Analysis by Market
Analysis by Market Positive and Negative Factors in Each Market Automotive Consumer Industry Electronics Steady growth in Surging demand for -Expansion of Positive Factors Europe, US and smartphone and renewable energy- Japan driven by quick tablet PC related business in electric chargers for Europe
Slide 6: Progress in Mid-term Business Plan (2012-2014)
Progress in Mid-term Business Plan(2012-2014) Copyright© 2012 SUMIDA CORPORATION. All rights reserved.
Slide 7: Mid-term Business Plans in Master Plan
Mid-term Business Plans in Master Plan Master Plan 2012‐2017 & beyond Mid‐term Plan (‘12‐’14) Mid‐term Plan (‘15‐’17) Mid‐term Plan (‘18～) Stage I Stage II Stage III Sales: 67 billion yen Sales: 80～100 billion yen Sales: 100 billion yen1～ ‘12 – ‘14 Stage I: Building foundation with operational restr
Slide 8: Action Plans for Mid-term Plan (2012-2014)
Action Plans for Mid-term Plan (2012-2014) ① Strengthening of cost-competitiveness： ・Optimization of production sites — Production shift from hub-plants to satellite plants — Production increase at Vietnam plant ・Productivity improvement with production lines automation — Automated model lines for a
Slide 9: Action Plans for Mid-term Plan (2012-2014)
Action Plans for Mid-term Plan (2012-2014) ③ Product management： ・Stepping up Sumida’s presence by increasing market share of highly profitable products ・Aiming at market leader in niche markets by developing new products faster than competitors ・Integration of R&D locations and efficient distributi
Slide 10: Targets & Challenges in 2013
Targets & Challenges in 2013 Copyright© 2012 SUMIDA CORPORATION. All rights reserved.
Slide 11: Targets in 2013
Targets in 2013 21% Sales Increase & 35% Profit Increase • Assumption of foreign ex rates： US $1 = ¥90, €1 = ¥120 • Conservative sales target with concentration on profit • Improvement of cost competitiveness • Further promotion of Silk Road concept for production Sales Operating Income （’00 million
Slide 12: Challenges in 2013
Challenges in 2013 1) Product strategy — Disposal of unprofitable products particularly in the consumer electronics 2) Regional strategy — Expansion of North America business — Production increase in NAFTA area 3) Improvement of cost competitiveness — Further automation of production lines — Product
Slide 13: 1) Product Strategy
1) Product Strategy Automotive: Focus on supplying to global Tier 1 makers in Europe Consumer electronics： Disposal of unprofitable products and exploitation of new demand for white household appliances in China Industry： Expand into Asia and Japan success in renewable energy-related business in Eur
Slide 14: 2) Regional Strategy
2) Regional Strategy Europe North America —Increase automotive product line-up －Take full advantage of distributor network —Focus on renewal energy-related business －Exploit the medical market as well as the automotive Asia（primarily Greater China） Japan －Integrate R&D centers in C-Lab for developme
Slide 15: Dividend Policy in 2013
Dividend Policy in 2013 With target payout ratio of 25～30%, dividend policy depends on performance Dividend reflecting Balance Stable dividend performance 1. Dividend policy in 2013 EPS (Earnings Per Share) × Target payout ratio (25%-30%) ⇒ Annual basic dividend = 20 yen／share---- Committed to pay t
Slide 16: Consolidated Financial Results 4Q and FY 2012
SUMIDA CORPORATION Consolidated Financial Results 4Q and FY 2012 February 18, 2013
Slide 17: 4Q Consolidated Financial Results
１．4Q Consolidated Financial Results （Millions Yen） 2012.4Q 2011.4Q % 2012.3Q % (A) (B) (A)/(B) (C) (A)/(C) Sales 12,358 11,913 3.7 13,220 △6.5 Operating Income 374 300 24.5 582 △35.7 Ordinary 318 3 － 408 △22.0 Income Net Income 85 △196 － 480 △82.2 USD/Yen 79.90 76.99 3.8 78.93 1.2 FOREX Rate Euro/Ye
Slide 18: Full Year Consolidated Financial Results
２．Full Year Consolidated Financial Results （Million Yen） FY 2012 FY 2011 Change % Sales 51,300 52,759 △2.8％ Operating 1,706 2,110 △19.1％ Income % 3.3％ 4.0% △0.7％ Ordinary 1,100 1,294 △15.0％ Income Net Income 691 496 39.2％ USD/Yen 79.42 80.25 △1.0％ FOREX Rate Euro/Yen 102.37 111.71 △8.4％ Euro/USD 1.2
Slide 19: Operating Income Analysis 2011 vs. 2012
３．Operating Income Analysis 2011 vs. 2012 Exp. （Million Yen） Savings Production 190 Efficiency Revenue 330 Loss Cost Production △360 Savings Adjustment 530 △130 Others 49 Exchange Rate （mainly Euro）Thai Plant △635 △52 FY 2011 Wages FY 2012 Operating in China Operating Income △326 Income 2,110 1,706
Slide 20: Operating Income Analysis 2012 (FC) vs. 2012
4．Operating Income Analysis 2012 (FC) vs. 2012 (Million Yen） Copper Exchange Revenue Price Rate Product 170 Loss △180 Production Others Mix △190 Adjustment 110 46 △150 FY 2012 FY 2012 Operating Operating Income Income (Forecast) (Actual) 1,900 1,706 Copyright© 2013 SUMIDA CORPORATION. All rights res
Slide 21: B/S Improvement
５．B/S Improvement Progress in 2012 ・Global Cash Management Efficient use of funds drastically improved through regular forecasting of cash flow and implementing cash pooling system *Achieved reduction of bank loans ・Current ratio improved *0.87 → 1.15 ・ＤＥ(Debt/Equity) ratio improved *4.74 → 2.86 ・ＣＣ
Slide 22: Consolidated B/S
６．Consolidated B/S FY 2012 FY 2011 Change Million Yen Days Million Yen Days Amount (%) Current Assets Cash & Cash equivalent 2,608 6,912 △4,303 △62.3 Notes receivable & AR 10,384 73.9 9,580 66.3 803 8.4 Inventory 8,136 71.3 8,027 68.8 109 1.4 Others 2,147 1,961 186 9.5 Fixed Assets + Deferred Tax As
Slide 23: FY 2013 Consolidated P/L Forecast
７．FY 2013 Consolidated P/L Forecast （Million Yen） FY2013 FY2012 Change % Forecast Actual Sales 62,300 51,300 21.4% Operating Income 2,300 1,706 34.7% % 3.7% 3.3％ 0.4％ Ordinary Income 1,770 1,100 60.8% N e t I n c o m e 500 691 △27.7％ USD/Yen 90.00 79.42 13.3％ FOREX Rate Euro/Yen 120.00 102.37 17.2％
Slide 24: Operating Income Analysis 2012 vs. 2013(FC)
８．Operating Income Analysis 2012 vs. 2013(FC) Cost Savings （Million Yen） 320 Revenue Increase Productivity 800 Efficiency 210 Wages in China & Exchange Others etc. Rate Exp. △16 △480 △130 Increase △110 FY 2013 FY 2012 Operating Operating Income Income (Forecast) (Actual) 2,300 1,706 Copyright© 2013
Slide 25: Currency Mix in 2013
９．Currency Mix in 2013 ¥ US$ Euro Others Total Sales 19％ 29％ 49％ 3％ 100％ Costs/Exp 11％ 54％ 33％ 2％ 100％ *every 1 yen depreciation against the euro ↓ Sales up by ¥254 million/Operating income up by ¥86 million ＊every 1 yen depreciation against the US dollar ↓ Sales up by ¥203 million/Operating income