Jcu Corporation · TSE:4975
Jcu — 1H FY3/25 Earnings Presentation
29 slides from Jcu's earnings presentation, Nov 7, 2024
Slide 1: Financial Results Briefing Material for 1H FY3/25
Financial Results Briefing Material for the First Half of the Fiscal Year Ending March 2025 JCU CORPORATION TSE Prime (Stock Code: 4975) November 7, 2024 Financial Results Briefing Material for 1H FY3/25 1
Slide 2: Summary of Consolidated Financial Results for 1H FY3/25
Summary of Consolidated Financial Results for 1H FY3/25 Accounting Period of 1H FY3/25 JCU (non-consolidated): April 1 to September 30, 2024 Overseas subsidiaries: January 1 to June 30, 2024 ■China: The inventory adjustment of high-performance electronic devices including smartphones ran its course,
Slide 3: Summary of Financial Results for 1H FY3/25
Summary of Financial Results for 1H FY3/25 (Millions of yen) 1H FY3/23 1H FY3/24 1H FY3/25 YoY Results Results Forecasts Results % Change Net sales 13,117 10,864 12,100 12,736 17.2% Operating profit 4,680 3,095 3,870 4,665 50.7% Ordinary profit 4,720 3,202 3,870 4,983 55.6% Profit attributable to ow
Slide 4: Foreign Exchange Rates
Foreign Exchange Rates Foreign exchange sensitivity (as at the consolidated year): Changes of about 100 million yen in consolidated operating profit with 1% change in major currency rates listed below (Yen) FY3/24 FY3/25 (Initial 1Q 2Q 3Q 4Q forecast) 1Q 2Q Chinese yuan (CNY) 19.34 19.45 19.61 19.82
Slide 5: Changes in Consolidated Operating Profit for 1H FY3/25
Changes in Consolidated Operating Profit for 1H FY3/25 (Millions of yen) 7,000 ■ Positive factors ■ Negative factors 6,000 (YoY change) (463) + 1,569 389 28 75 5,000 779 4,000 762 3,000 from the Machine Business Increase in gross profit from purchased products Increase in gross profit Increase in SG
Slide 6: Quarterly Consolidated Financial Results
Quarterly Consolidated Financial Results (Millions of yen) 8,000 2,657 3,000 2,660 2,640 2,669 7,000 2,288 2,500 1,965 1,995 2,020 6,000 1,716 2,000 1,379 Operating Profit 5,000 1,500 Net Sales 4,000 1,000 3,000 500 2,000 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2023/3 FY3/23 2024/3 FY3/24 2025/3 FY3/25 総売上高
Slide 7: Quarterly Consolidated Financial Results (By Segment)
Quarterly Consolidated Financial Results (By Segment) 8,000 7,584 7,648 70.0 6,957 6,824 6,434 6,348 60.0 6,160 5,912 6,000 5,639 5,225 50.0 Net Sales (Millions of yen) Operating Margin (%) 40.0 4,000 38.2 39.1 34.8 36.1 34.7 32.8 33.8 30.0 30.5 30.4 26.4 20.0 2,000 10.0 0 0.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4
Slide 8: Consolidated Segment Results for 1H FY3/25
Consolidated Segment Results for 1H FY3/25 (Millions of yen) 14,000 14,000 前期2Q累計 1H FY3/24 12,000 11,384 2025年3月期2Q累計 1H FY3/25 12,000 9,806 10,000 (Breakdown) (Breakdown) Plating machines 712 10,000 Plating machines 1,023 Plasma system 279 Plasma system 217 8,000 Solar power related 66 Solar power
Slide 9: Quarterly Sales of Chemicals in Japan and Overseas
Quarterly Sales of Chemicals in Japan and Overseas (Millions of yen) 6,000 90% 80% 81% 81% 81% 84% 81% 83% 80% 78% 76% 80% 5,000 70% 4,000 60% 50% 3,000 40% 2,000 30% 20% 1,000 10% 0 0% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY3/23 2023/3 2024/3 FY3/24 2025/3 FY3/25 国内 Japan 海外 Overseas 海外比率 Overseas Sales R
Slide 10: Chemicals for POP, Via Filling and Etching Quarterly Sales
Chemicals for POP, Via Filling and Etching｜Quarterly Sales POP: Planting on Plastics, mainly for automotive components Via Filling: Additive for copper planting for PWBs and semiconductor package substrates, mainly for smartphones and PCs (Millions of yen) Etching: Additives for PWBs and semiconduct
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 FY3/23 2023/3 FY3/24 2024/3 FY3/25 2025/3 日本 Japan 1,117 1,177 1,173 1,043 1,009 1,038 1,028 884 962 974 中国 China 2,307 2,247 2,612 2,203 1,591 1,931 2,432 2,569 2,181 2,665 台湾
Slide 12: Quarterly Sales of Chemicals by Category
Quarterly Sales of Chemicals by Category (Millions of yen) Consolidated 6,000 YoY 30% QoQ 17% 5,000 4,304 4,304 4,429 4,195 (Chemicals for Electronic Components) 3,991 3,862 3,974 Core Products: Via filling 3,799 4,000 PWBs, connectors, surface treatment 3,404 3,053 chemicals for semiconductor secto
Slide 13: Quarterly Sales of Chemicals by Region: Japan
Quarterly Sales of Chemicals by Region (Millions of yen) Japan 1,000 YoY (2)% 800 733 744 QoQ 5% 707 638 623 617 604 584 591 600 513 400 466 432 426 444 384 405 400 370 369 349 200 QoQ (5)% YoY (13)% 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2023/3 FY3/23 2024/3 FY3/24 2025/3 FY3/25 ● 電子薬品 Chemicals for Elect
Slide 14: Quarterly Sales of Chemicals by Region: Overseas
Quarterly Sales of Chemicals by Region (Millions of yen) Overseas YoY 38% 5,000 QoQ 19% 4,000 3,682 3,805 3,559 3,597 3,258 3,245 3,390 3,207 3,000 2,766 2,449 2,000 YoY (2)% QoQ 7% 1,000 1,143 1,350 1,011 1,133 1,010 854 972 837 784 786 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2023/3 FY3/23 FY3/24 2024/3 20
Slide 15: Quarterly Sales of Chemicals by Region: China
Quarterly Sales of Chemicals by Region (Millions of yen) China YoY 52% 2,800 QoQ 25% 2,170 2,100 1,945 1,749 1,804 1,738 1,649 1,535 1,509 1,426 1,400 1,154 YoY (1)% QoQ 9% 700 855 772 695 651 597 585 442 492 445 487 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY3/23 2023/3 FY3/24 2024/3 FY3/25 2025/3 ● 電子薬品for
Slide 16: Quarterly Sales of Chemicals by Region: Taiwan
Quarterly Sales of Chemicals by Region (Millions of yen) Taiwan YoY 21% 1,400 1,152 QoQ 4% 1,200 1,101 1,049 1,050 989 1,000 848 835 807 800 689 689 600 YoY 24% 400 QoQ 200% 200 4 3 5 4 3 2 3 5 1 3 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY3/23 2023/3 FY3/24 2024/3 FY3/25 2025/3 ● 電子薬品for Electronic Compone
Slide 17: Quarterly Sales of Chemicals by Region: South Korea
Quarterly Sales of Chemicals by Region (Millions of yen) South Korea 800 YoY 17% QoQ 22% 600 550 553 485 504 478 459 481 431 413 388 400 YoY (10)% QoQ 8% 200 129 109 123 113 101 103 111 91 97 100 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY3/23 2023/3 FY3/24 2024/3 FY3/25 2025/3 ● 電子薬品for Electronic Component
Slide 18: Forecasts for FY3/25
Forecasts for FY3/25 (Millions of yen) FY3/25 Progress rate FY3/24 FY3/25 Full year against full- Full year results 1H results forecasts year forecast Net sales 24,859 12,736 27,000 47.2% Operating profit 8,041 4,665 8,500 54.9% Ordinary profit 8,216 4,983 8,500 58.6% Profit attributable to owners o
Slide 19: Annual Sales by Business (incl. Forecast)
Annual Sales by Business (incl. Forecast) 30,000 60 27,137 27,000 0 0 24,866 2,608 24,860 3,000 25,000 35 24,256 0 50 23,120 0 1,718 22,319 1,307 3,178 2,000 Net Sales (Millions of yen) 4,796 27 21,192 1,435 Operating Margin (%) 3,194 9 2,936 1,783 20,000 2,035 40 1,345 1,429 1,324 1,092 34.2 32.3 3
Slide 20: Capital Expenditures, Depreciation and R&D Expenses
Capital Expenditures, Depreciation and R&D Expenses R&D Expenses and Capital Expenditures Depreciation (Millions of yen) R&D/Sales ratio 7,000 1,200 1,600 10.0% 研究開発費 R&D Expenses 5,925 1,001 1,400 研究開発費比率 R&D/Sales ratio 1,350 6,000 1,000 8.0% 1,200 5,000 1,061 1,058 800 727 960 962 1,000 676 6.0%
Slide 21: FY3/25 Equity Policy
FY3/25 Equity Policy Dividends per share Interim dividend: 37 yen Plans to increase dividends for (Forecasts) Year-end dividend: 37 yen 15 consecutive fiscal years 期末 Year-end 中間 Interim Total distribution ratio 総還元性向 75.9% 49.2% 50.3% 46.9% 44.1% 44.9% 29.7% 24.8% 24.1% 70 74 66 57 +¥2 45 48.5 50 4
Slide 22: 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. Environment Social Development of environmentally responsible Ratio of female managers (non-consolidated) products 11
Slide 23: Reference
Reference ●Company Profile ●Surface Treatment Technology in Future ●Major Distribution Channels ●Usages of Chemicals and Typical Final Products Financial Results Briefing Material for 1H FY3/25 23
Slide 24: Company Profile
Company Profile Founded in : December 1957 Established on : April 1, 1968 Capital stock : 1,281 million yen Non-consolidated: 13.8 billion yen / Consolidated: 24.8 billion yen Annual sales : (For the fiscal year ended March 31, 2024) Head office : TIXTOWER UENO 16F, 8-1 Higashiueno 4-chome, Taito-ku
Slide 25: Surface Treatment Technology in Future: Electronic Components
Surface Treatment Technology in Future —Electronic Components— Target Next-generation PKG boards for AI accelerators, data centers, high-performance electronic devices Hybrid bonding 〇Expected primary application 2.xD/3D package Si substrate Memory 〇Performance required by surface treatment technolo
Slide 26: Surface Treatment Technology in Future: Decoration & Function
Surface Treatment Technology in Future —Decoration & Function— Target Automotive components (front grilles, door handles, emblems, etc.) Faucet parts (showerheads, drain plugs, etc.) Plating technology with no hexavalent chromium (Cr6+) and no PFAS Conventional Newly Cr6+ free Before processing PFAS
Slide 27: Major Distribution Channels
Major Distribution Channels Customers (sold-to) Materials (chemicals) Manufacturing/processing/assembly Products (e.g. Automobiles Decoration/Function JCU Our overseas ・Automobile parts CORPORATION subsidiaries manufacturers －Tier 1, Tier 2, etc. ・Automobile manufacturers ・Specialist plating compani
Slide 28: Usages of Chemicals and Typical Final Products
Usages of Chemicals and Typical Final Products Description of term Final products Surface treatment chemicals for decorative and function purposes such as those for providing a Chemicals for function/decoration Automotive parts, faucet parts, construction materials, etc. metal appearance and prevent
Slide 29: This material contains current plans and forecasts of future performance of JCU CORPORATION. These
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