Fujikura Ltd · TSE:5803
Fujikura — FY2016 Earnings Presentation
27 slides from Fujikura's earnings presentation, May 9, 2017
Slide 1: FY2016 Financial Results
FY2016 Financial Results Fujikura Ltd. May 9, 2017
Slide 2: Contents
Contents 1. FY2016 Financial Results and FY2017 Forecasts 2. Reviews by Segment 3. Return to Shareholders 1
Slide 3: 1. FY2016 Financial Results and FY2017 Forecasts
1. FY2016 Financial Results and FY2017 Forecasts 2
Slide 4: FY2016 Financial Results
FY2016 Financial Results （Unit：Yen in billion） FY2016‐FY2015 FY2015 FY2016 Change Net Sales 678.5 653.7 (24.7) Operating Income 32.6 34.2 1.5 （単位：億円） Ratio of Operating Income to 4.8 5.2 0.4 Net Sales（%） Equity in Net Income (Loss) (2.9) 1.0 3.9 of Affiliates Ordinary Income (Loss) 24.6 32.5 7.9 Net
Slide 5: Summary of FY2016 Business Results
Summary of FY2016 Business Results In FY2016, net sales decreased on a YoY basis due to effects of appreciation of the yen (FY2015:120.16 yen/USD → FY2016:108.36 yen/USD) and fall of price of copper (basis of copper price FY2015: 677 thousand yen/t → FY2016: 604 thousand yen/t). Operating income
Slide 6: FY2016 Contributing Factors to Net Sales Change
FY2016 Contributing Factors to Net Sales Change（year-on-year basis） Net Sales （Unit：Yen in billion） Effects of Appreciation of Yen Power & Telecommunication Automotive Other Systems Electronics Products (0.6) (44.6) Effects of Business Copper +9.5 Price +8.3 678.5 +15.2 (12.5) 653.7 24.7 lower than
Slide 7: FY2016 Contributing Factors to Operating Income Change
FY2016 Contributing Factors to Operating Income Change（year-on-year basis） Operating Income （Unit：Yen in billion） Power & Telecommunication Effects of Systems Electronics Automotive Other Appreciation Effects of Business Products of Yen Copper (3.8) +0.9 +0.2 Price +9.7 (6.8) +1.3 32.6 34.2 1.5 high
Slide 8: FY2016 Extraordinary Profit and Loss
FY2016 Extraordinary Profit and Loss Extraordinary Profit and Loss （Unit：Yen in billion） FY2015 FY2016 Operating Income 32.6 34.2 Equity Method Income (2.9) 1.0 Ordinary Income 24.6 32.5 VISCAS business Extraordinary Gains 2.7 0.6 reorganization cost drastically reduced Extraordinary Losses 10.1 4.8
Slide 9: Consolidated B/S (1)
Consolidated B/S（１） （Unit：Yen in billion） Effects of exchange rates As of March As of March -5.7 billion yen Change Effects of strong yen and 31, 2016 31, 2017 depreciation of currencies of 〈Assets〉 552.6 588.6 +35.9 emerging countries March 2016 March 2017 Current Assets 282.4 296.5 +14.0 Yuan 17.4
Slide 10: Consolidated B/S (2)
Consolidated B/S（２） （Unit：Yen in billion） As of March As of March Change 31, 2016 31, 2017 Total 552.6 588.6 +35.9 （Treasury Stock） ((25.3)) ((5.9)) （+19.4） 〈Liability〉 334.6 364.0 +29.3 Increase by power systems business Notes and Account reorganization and share buyback 73.7 77.2 +3.4 Payable in a
Slide 11: FY2017 Forecasts
FY2017 Forecasts （Unit：Yen in billion） FY2017 Forecasts FY2016 2H FY2017 FY2017 －FY2016 Results Results Forecasts Forecasts Change Net Sales 653.7 340.0 700.0 46.2 Operating Income 34.2 16.0 38.0 3.7 Ratio of Operating Income 5.2 4.7 5.4 0.2 to （単位：億円） Net sales（%） Equity in Net Income (Loss) 1.0 0.
Slide 12: FY2017 Forecasts
FY2017 Forecasts Net sales is forecasted to be 700 billion yen which is an increase of 46.2 billion yen on a YoY basis owing to the increase of revenue in each company; Power & Telecommunication Company, Electronics Business Company and Automotive Products Company. Operating income and ordinary
Slide 13: Contributing Factors to Net Sales Change (FY2017 Forecast)
FY2016 Results/ FY2017 Forecasts Contributing Factors to Net Sales Change（year-on-year basis） Net Sales （Unit：JPY in Billion） Other Automotive +1.6 Electronics Power & Tele- +14.8 communication Effects of Effects of +13.4 Depreciation Copper of Yen Price +10.8 700.0 +1.6 +4.0 653.7 46.2 higher than
Slide 14: Contributing Factors to Operating Income Change (FY2017 Forecast)
FY2016 Results/ FY2017 Forecasts Contributing Factors to Operating Income Change（year-on-year basis） Operating Income （Unit：JPY in Billion） Change of depreciation Other Power & Tele- method communication +0.1 Electronics Real Estates +0.4 +3.6 38.0 34.2 (1.9) +1.5 FY2016 Result FY2017 Forecast 3.7 h
Slide 15: 2. Reviews by Segment
2. Reviews by Segment F Fujikura lt
Slide 16: Financial Records and Forecasts by Segment
Financial Records and Forecasts by Segment （Unit：Yen in billion） Net Sales Operating Income & Ratio of Operating Income to Net Sales 1st Half FY2017 1st Half FY2017 Segment FY2015 FY2016 2017 Forecasts FY2015 FY2016 2017 Forecasts Forecasts Forecasts Power & 14.3 20.3 9.4 21.1 Telecommunication 366.
Slide 17: Power & Telecommunication Systems Company
Power & Telecommunication Systems Company In FY2016, net sales decreased due to effects of appreciation of the yen and fall of price of copper, but operating income increased owing to strong market demand in telecommunication business and improvement of product mix. For FY2017, ratio of operatin
Slide 18: Electronics Business Company
Electronics Business Company In FY2016, net sales decreased due to the effect of foreign exchange rates. Operating income decreased due to the effect of severe competition in addition to that of the foreign exchange rates. For FY2017, both net sales and net income are projected to increase owing
Slide 19: Automotive Products Company
Automotive Products Company In FY2016, net sales remained almost unchanged on a YoY basis due to the effect of foreign exchange rates, although shipping volume increased. Ratio of operating income to net sales was at the same level on a YoY basis due to the rise of costs for launching of new sites
Slide 20: Real Estate Business Company
Real Estate Business Company Revenues from leasing real estate properties continue to contribute to consolidated operating income. （Unit：Yen in billion） Net sales & Ratio of Operating Income to Net Sales Real Estate Ratio of Operating Income to Net Sales ■ In FY2016, operating income decrease due t
Slide 21: CAPEX and Depreciation Cost
CAPEX and Depreciation Cost （単位：億円） FY2017 FY2015 FY2016 Est. CAPEX 31.9 45.6 48.0 （for manufacturing business） 31.3 37.0 46.0 （for real estate business） 0.6 8.5 2.0 Depreciation Cost 26.6 27.5 28.5 （for manufacturing business） 24.8 25.7 26.5 （for real estate business） 1.7 1.8 2.0 Note: The above fi
Slide 22: Interest-bearing Debts, Net Financial Profit and Free Cash Flow
Interest-bearing Debts, Net Financial Profit and Free Cash Flow （Unit：Yen in billion） FY2015 FY2016 Fiscal Fiscal 1st Half 2nd Half Year 1st Half 2nd Half Year Interest- 197.2 199.6 199.6 229.7 225.9 225.9 bearing Debts Net Financial (0.8) (0.5) (1.3) (0.6) (0.6) (1.2) Profit/Loss Free Cash 7.6 6.2
Slide 23: 3. Return to Shareholders
3. Return to Shareholders F Fujikura le
Slide 24: Profit Return
Profit Return Basic Policy of FY2020 Mid-term Dividend payout ratio 20% or higher FY2016 Forecasts Dividends 10.0 yen per share （Interim 5.0 yen per share, Year-end 5.0 yen per share, 2.8 billion yen） FY2015 8.0 yen per share ( Interim 4.0 yen per share , Year-end 4.0 per share) （2.0 yen of incr
Slide 25: Profit Return
Profit Return Basic Policy of FY2020 Mid-term Dividend payout ratio 20% or higher FY2017 Forecasts Dividends 14.0 yen per share （Interim 7.0 yen per share, Year-end 7.0 yen per share, 3.9 billion yen） （4.0 yen of increase compared with FY2016） Dividend Payout Ratio in FY2017 20.0% 24
Slide 26: Contact / Special Notes
Special Notes: Statements in this presentation that relate to future results and events (including statements regarding Fujikura’s revenue and earnings guidance) are based on Fujikura’s current expectations. Actual results in future periods may differ materially from those currently expected because
Slide 27: Net Sales and Operating Income by Segment
【FY2016 Financial Results Appendix】 Net Sales and Operating Income by Segment Net Sales Records and Forecasts by Segment Unit：Yen in billion FY2015 FY2016 FY2017 Est. Full Full Full 1Q 2Q 3Q 4Q 1H 2H 1Q 2Q 3Q 4Q 1H 2H 1H 2H Year Year Year Power Systems 52.8 54.3 54.7 50.9 107.1 105.6 212.7 45.1 46.3