Hamamatsu Photonics K.k. · TSE:6965
Hamamatsu Photonics K.k — FY2018 Earnings Presentation
45 slides from Hamamatsu Photonics K.k's earnings presentation, November 2018
Slide 1: Hamamatsu Financial Report, Fiscal Year ended September 30, 2018
Hamamatsu Financial Report Fiscal Year ended September 30, 2018 November 2018 Hamamatsu Photonics K.K. Tokyo Stock Exchange: 6965 www.hamamatsu.com 1
Slide 2: Notes
Notes This material is not intended to be a solicitation to buy or sell any securities of Hamamatsu Photonics K.K. The information contained in this material is based on data available as of making it. No guarantees, promises are made as to its accuracy or completeness.
Slide 3: Financial results & forecast
Financial results & forecast Unit :Million Yen FY: October 1-September 30 FY2017 FY2018 FY2019 Revised plan compared compared Result May 7, 2018 Result with prev. year Plan with prev. year Net Sales 130,495 144,300 144,338 +10.6% 150,400 +4.2% Gross Profit 64,825 73,200 73,952 76,800 +14.0% +3.8% (%
Slide 4: Sales & profit thru FY2021
Sales & profit thru FY2021 Unit :Million Yen 180,000 40,000 Sales Profit 160,000 35,000 140,000 30,000 120,000 25,000 100,000 20,000 80,000 15,000 60,000 10,000 40,000 20,000 5,000 0 0 FY19 FY20 FY21 FY12 FY13 FY14 FY15 FY16 FY17 FY18 (Plan) (Plan) (Plan) Net Sales(Left) 98,067 102,156 112,092 120,6
Slide 5: Capital investment (payment based) & depreciation
Capital investment (payment based) & depreciation Unit :Million Yen 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 FY19’s main capital investment plan 4,000 Toyooka(Electron tube) new building 4.8 billion yen Ichino(Solid state) new building 2.5 billion yen 2,000 0 FY19 FY20 FY21 FY17 FY1
Slide 6: R & D expense
R & D expense Unit :Million Yen 14,500 10.0% 13,500 12,500 8.0% 11,500 10,500 6.0% 9,500 Compound semiconductor fabrication center 1.4 billion yen 4.0% 8,500 7,500 2.0% 6,500 5,500 0.0% FY19 FY20 FY21 FY17 FY18 (Plan) (Plan) (Plan) R&D 11,776 12,830 14,700 14,800 15,100 R & D (non-cons.) 11,529 12,1
Slide 7: Sales by region (consolidated)
Sales by region(consolidated) Unit :Million Yen FY15 FY16 FY17 FY18 Region Year Year Y/Y Share Year Y/Y Share Year Y/Y Share Japan/Do 37,238 36,258 -2.6% 29.8% 38,378 +5.8% 29.4% 41,919 +9.2% 29.0% mestic North 35,135 32,704 -6.9% 26.8% 33,314 +1.9% 25.5% 33,363 +0.1% 23.1% America Europe 29,603 30,
Slide 8: Sales by region
Sales by region FY17 2FY17 25.3％ 19.6％ 29.4％ 25.5％ Europe Asia and China Japan North America FY18 25.3％ 22.3％ 29.0％ 23.1％ Europe Asia and China Japan Japan North America ６
Slide 9: Analysis of impact of currency fluctuation to operating income
Analysis of impact of currency fluctuation to operating income (trial calculation) Increase Unit :Million Yen 35,000 Increase of SG&A Increase of op. Increase expense income Increase of sales 150 Impact of of sales due to of SG&A Decrease of 6,062 op. income 3,340 currency 13,843 hike of GM expense
Slide 10: Sales by industry & application
Sales by industry & application Unit :Million Yen 55,000 Medical instrument 50,000 (X-ray CT, dental imaging ,PET, gamma camera, etc) 45,000 Semiconductor instrument (failure analysis, stealth dicing, etc) X-ray non-destructive inspection, factory 40,000 automation instrument 35,000 30,000 Material,
Slide 11: FY18 sales by industry & application
FY18 sales by industry & application Transport instrument Optical Information Consumer Others (automotive sensor, instrument /communication 4.5% 0.8% auto-LAN, ITS) 1.5% 1.2% 3.7% Nuclear medical Measuring instrument instrument (X-ray CT, PET, (radiation monitoring, gamma camera, dental oil well log
Slide 12: Electron tube segment (Electron tube division)
Electron tube segment (Electron tube division) Toyooka factory in Iwata-city, Shizuoka-pref. １０
Slide 13: Sales of core electron tube products
Sales of core electron tube products Unit :Million Yen 9,000 DNA, Blood Analyzer, etc 8,000 Medical imaging, etc 7,000 liquid chromatography, etc 6,000 Non Destructive Testing, etc Semiconductor, Analytical 5,000 and Medical inspection, etc Semiconductor 4,000 manufacturing 3,000 2,000 1,000 0 PMT f
Slide 14: Opto-semiconductor segment (Solid state division)
Opto-semiconductor segment (Solid state division) Ichino main factory in Hamamatsu-city, Shizuoka-pref. １２
Slide 15: Sales of core opto-semiconductor products
Sales of core opto-semiconductor products Semiconductor inspection, Unit :Million Yen Dental diagnostic and 16,000 Analytical instrument X-ray medical equipment 14,000 Dental diagnostic Blood test, 12,000 Semiconductor, Automobile and Range finder, Encoder, 10,000 FA sensor Radiation Optical Measure
Slide 16: Imaging and measurement instruments segment (Systems division)
Imaging and measurement instruments segment (Systems division) Joko factory in Hamamatsu-city, Shizuoka-pref. １４
Slide 17: Sales of core imaging & measurement instruments products
Sales of core imaging & measurement instruments products Unit :Million Yen 6,000 Biomedical application Emission microscopy 5,000 4,000 Industrial X-ray Bio, Medical, inspection Clinical pathology 3,000 Academic research 2,000 1,000 0 Digital Camera Semi-con Failure Measurement for System for Life S
Slide 18: Sales of laser products
Sales of laser products Unit :Million Yen 2,500 Material processing, measurement instrument, light source, range finder, medical equipment etc. 2,000 Laser diode 1,500 1,000 High power laser diode bar module 500 0 Direct diode laser, fiber out laser diode FY19 FY15 FY16 FY17 FY18 （Plan） Laser diode
Slide 19: High-energy physics experiments using photomultiplier tubes
High-energy physics experiments using photomultiplier tubes Expected Type Project Name Purpose Place year of first number delivery Neutrino, Proton 82,000 Hyper-Kamiokande Japan 2020 decay 14,000 Underground JUNO(Daya Bay II ) Neutrino China 2016 5,000 Mediterranean KM3NeT Neutrino Sea 2018 175,000
Slide 20: Topics
PHOTON IS OUR BUSINESS Topics Copyright © Hamamatsu Photonics K.K. All Rights Reserved.
Slide 21: PHOTON FAIR 2018 exhibition
PHOTON FAIR 2018 exhibition Journey to the future of Photonics with Hamamatsu November 1st to 3rd, 2018 Over 10,000 visitors １８
Slide 22: PHOTON FAIR 2018 exhibition
PHOTON FAIR 2018 exhibition Experience the future of photonics technology in six areas Automotive Life Medical & life science Environment Manufacturing Science & research １９
Slide 23: PHOTON FAIR 2018 exhibition
PHOTON FAIR 2018 exhibition Service ★ ★ ★ ★ System ★ ★ ★ Module New application Photonic ★ ★ of photonics devices technology Advanced ★ applied research ★ Enhancement of core technology Basic research Photonics Technology is for Photonic devices Key Enabling Technology ２０
Slide 24: Infrastructure development for production and technological enhancement
Infrastructure development for production and technological enhancement Customer Provide more competitive products in a timely manner Electron tube Solid state Laser promotion division division division Chip Chip Chip Compound semiconductor Shared front-end process by fabrication center business div
Slide 25: Compound semiconductor fabrication center
Compound semiconductor fabrication center Compound semiconductor product sales forecast 14000 12000 Sales（million yen） 10000 8000 6000 4000 2000 0 FY19 FY20 FY21 FY22 FY23 25 ２２
Slide 26: Micro focus X-ray source (MFX)
Micro focus X-ray source(MFX) ●Application - Electrical circuit board inspection - Lithium ion battery inspection - X-ray Metrology etc. ●market growth ratio 53% increase in next 5 years ECU (Engine control unit) ２３
Slide 27: Mass spectrometry related products
Mass spectrometry related products ●Application - Environment analysis - Drug development - Explosive Trace Detection - Quality control of materials and foods ●market growth ratio 385% increase in next 5 years ２４
Slide 28: LiDAR scanning
LiDAR (Light Detection and Ranging) scan ① ② ③ ①Emission ② C =299,792 km/s Scanning ≒300mm/1ns τ Reflection Distance D= τ/C ③Detection τ Ex.︓Delay 10ns= 3m ２５
Slide 29: Approach to automatic driving technology: LiDAR
Approach to automatic driving technology LiDAR (Light Detection ・Advanced And Ranging) ・Automotive Standards semiconductor ・Simulation ・Analysis technique factory Key Enabling Technology ・High Sensitivity Sensors ・MEMS Technology Compound Semiconductor ・ASIC ・High-power PLDs Fabrication Center IR-OB
Slide 30: 100% QE, Zero noise: Aim for the ultimate 2D photon measurement
100% QE, Zero noise Aim for the ultimate 2D photon measurement 2013 2018 2020 - 2G sCMOS Camera 3G sCMOS Camera Photon-counting SCMOS Camera QE Noise >90 0.2e- % 10 number of electron (e) 9 8 7 Noise : Noise : 6 1.4e- 0.7e- 5 QE : QE︓ 4 82% 80% 3 2 4M 100 5.3M 100 1 pixel fps pixel fps 0 -1 frequenc
Slide 31: Brain PET
Brain PET Next-gen. brain PET concept Patient-friendly brain PET is under development using our MPPC module. Image from Prof. Satoshi Minoshima at the University of Utah Supine position Seated position Stand position Cloud network connection concept ２８
Slide 32: www.hamamatsu.com
PHOTON IS OUR BUSINESS www.hamamatsu.com Copyright © Hamamatsu Photonics K.K. All Rights Reserved.
Slide 33: Databook
Databook Fiscal Year ended September 30, 2018 November 2018 Hamamatsu Photonics K.K. Tokyo Stock Exchange: 6965 www.hamamatsu.com
Slide 34: Consolidated income statements
Consolidated income statements Unit :Million Yen FY17 FY18 FY19(Plan) FY20(Plan) FY21(Plan) Year % 1st half 2nd half Year % 1st half 2nd half Year % Year % Year % Net sales 130,495 100.0 73,074 71,264 144,338 100.0 74,900 75,500 150,400 100.0 162,300 100.0 176,400 100.0 Cost of sales 65,670 50.3 35,
Slide 35: Sales by industry & application (consolidated)
Sales by industry & application (consolidated) Unit :Million Yen FY17 FY18 FY19(Plan) Application March September March September March September 1st half 2nd half Year % 1st half 2nd half Year % 1st half 2nd half Year % Medical instrument 24,641 24,132 48,773 37.4 25,731 24,903 50,634 35.1 27,404 2
Slide 36: Major subsidiaries income statements
Major subsidiaries income statements (America, Europe) Unit: Thousand local currency Local currency(thousand dollars) Yen(million yen) Company Account item FY17 FY18 FY17 FY18 Year ％ Year ％ Year Year Net sales 331,930 100 342,360 100 36,933 37,817 Hamamatsu Corporation Gross profit 69,688 21 80,196
Slide 37: Major subsidiaries income statements
Major subsidiaries income statements (China) Unit: Thousand RMB Local currency(thousand RMB) Yen(million yen) Company Account item FY17 FY18 FY17 FY18 Year ％ Year ％ Year Year Net sales 773,290 100 947,693 100 12,395 16,082 HAMAMATSU PHOTONICS (CHINA)Co., Ltd. Gross profit 132,605 17 192,396 20 2,125
Slide 38: Consolidated sales by business segment FY17 - FY21
Consolidated sales by business segment Unit :Million Yen FY17 - FY21 FY19 FY20 FY21 FY17 FY18 (Plan) (Plan) (Plan) Year 1st half 2nd half Year 1st half 2nd half Year Electron tube 50,449 28,725 29,056 57,781 29,350 29,900 59,250 62,900 67,250 Opto- 61,526 34,560 32,934 67,494 34,900 35,050 69,950 75
Slide 39: Electron tube's consolidated performance
Electron tube's consolidated performance Unit :Million Yen FY19 FY20 FY21 FY17 FY18 (Plan) (Plan) (Plan) Year % 1st half 2nd half Year % 1st half 2nd half Year % Year % Year % Net sales 50,449 100.0 28,725 29,056 57,781 100.0 29,350 29,900 59,250 100.0 62,900 100.0 67,250 100.0 Cost of 22,762 45.1 1
Slide 40: Opto-semiconductor's consolidated performance
Opto-semiconductor's consolidated performance Unit :Million Yen FY19 FY20 FY21 FY17 FY18 (Plan) (Plan) (Plan) Year % 1st half 2nd half Year % 1st half 2nd half Year % Year % Year % Net sales 61,526 100.0 34,560 32,934 67,494 100.0 34,900 35,050 69,950 100.0 75,350 100.0 80,800 100.0 Cost of 33,264 5
Slide 41: Imaging & measurement instrument's consolidated performance
Imaging & measurement instrument's consolidated performance Unit :Million Yen FY19 FY20 FY21 FY17 FY18 (Plan) (Plan) (Plan) Year % 1st half 2nd half Year % 1st half 2nd half Year % Year % Year % Net sales 17,242 100.0 8,686 8,483 17,169 100.0 9,350 9,000 18,350 100.0 19,450 100.0 21,200 100.0 Cost o
Slide 42: Consolidated sales by product line 1
Consolidated sales by product line 1 Unit :Million Yen FY19 FY15 FY16 FY17 FY18 (Plan) Segment Product Year Year Year Year Year PMT for medical inspection 6,829 6,142 6,401 7,108 8,454 Scintillator(FOS, ACS, ALS) 5,092 4,823 5,030 5,561 5,600 PMT for analysis 4,064 3,968 3,658 3,995 4,470 Micro-focu
Slide 43: Consolidated sales by product line 2
Consolidated sales by product line 2 Unit :Million Yen FY19 FY15 FY16 FY17 FY18 (Plan) Segment Product Year Year Year Year Year Si photodiode for medical instrument 12,037 13,195 12,286 12,534 14,003 Linear/area image sensor 11,023 11,322 13,409 14,832 14,423 Flat panel image sensor 6,628 7,077 9,54
Slide 44: Consolidated capital investment, R & D expenses and depreciation FY14 – FY19
Consolidated capital investment, R & D expenses and depreciation Unit :Million Yen FY14 – FY19 FY19 FY14 FY15 FY16 FY17 FY18 (Plan) Ratio to Ratio to Ratio to Ratio to Ratio to Ratio to sales (%) sales (%) sales (%) sales (%) sales (%) sales (%) 1st quarter 4,961 19.0 3,122 10.9 1,441 4.8 4,441 14.8
Slide 45: Hamamatsu Photonics group offices
Asia North America HAMAMATSU PHOTONICS K.K. HAMAMATSU CORPORATION Headquarters Main Office / California Office / Chicago Office HAMAMATSU PHOTONICS (CHINA)Co., Ltd. / Boston Office Head Office / Shanghai Branch PHOTONICS MANAGEMENT Corp. / Shenzhen Branch ENERGETIQ TECHNOLOGY, Inc. BEIJING HAMAMATSU
Hamamatsu Photonics K.K. — FY2018 Earnings Presentation on 6ix