Taiyo Yuden Co., Ltd. · TSE:6976
Taiyo Yuden — FY2018 Earnings Presentation
22 slides from Taiyo Yuden's earnings presentation, May 13, 2019
Slide 1: Consolidated Financial Results
Consolidated Financial Results Year ended March 31, 2019 Shinji Masuyama Chief of Management Planning Headquarters May 13, 2019 ©TAIYO YUDEN 2017
Slide 2: Financial Summary FYE March 2019
Financial Summary FYE March 2019 Net sales increased 12% Y/Y to ¥274.3 billion, and operating income increased 74% to ¥35.2 billion, resulting in revenue and profit growth. Sales of capacitors increased 19% Y/Y. Sales rose for all applications, in particular led by sales for Automotive. Net sa
Slide 3: Summary of Consolidated Financial Results (Y/Y)
Summary of Consolidated Financial Results (Y/Y) ¥ in million FYE Mar 31, 2018 FYE Mar 31, 2019 Change Y/Y (01 Apr 2017 – 31 Mar 2018) (01 Apr 2018 – 31 Mar 2019) Net sales 244,117 100.0% 274,349 100.0% 30,231 12.4% Operating income 20,221 8.3% 35,237 12.8% 15,016 74.3% Ordinary income 20,553 8.4% 34
Slide 4: Capital investment and depreciation expenses
capacitor production subsidiary NIIGATA TAIYO YUDEN, there was a significant increase of 14.0 billion yen Y/Y. Depreciation expenses were 26.5 billion yen, an increase of 1.0 billion yen from the previous fiscal year.
Slide 5: Factors behind Operating Income in FYE March 2019
Factors behind Operating Income in FYE March 2019 Operating income (FYE Mar 2019) 35.2 Operating income Effect from (FYE Mar 2018) capacity utilization 20.2 +18.8 Effect from Impact of cost reductions selling price +2.0 +0.2 (1.2) Currency (4.7) fluctuations Changes in fixed costs *Excludes ELNA CO.
Slide 6: Financial Results by Product Classification (Y/Y)
Financial Results by Product Classification (Y/Y) ¥ in million FYE Mar 31, 2018 FYE Mar 31, 2019 Change Y/Y Capacitors 142,858 58.5% 170,633 62.2% 27,774 19.4% Ferrite and applied products 40,977 16.8% 40,595 14.8% (381) (0.9)% Integrated modules & devices 56,838 23.3% 47,930 17.5% (8,907) (15.7)% O
Slide 7: Financial Results by Product Classification (Y/Y)
Financial Results by Product Classification (Y/Y) ■ Capacitors (+19.4%) Strong demand extended across a wide range of applications. Demand for products for Automotive and IT infrastructure (base station communication device, data centers, etc.) was particularly strong. ■ Ferrite and applied products
Slide 8: Sales by Market Sector
Sales by Market Sector ＊Estimated by the Company ©TAIYO YUDEN 2017 7 Composition of sales classified by market application is 15% for Automotive and 24% for IT infrastructure/Industrial equipment. The targeted 15% for Automotive was achieved by making ELNA, which has strengths in products for use in
Slide 9: Change in market sector classification
“Automotive” has been established as a separate classification from the previous classification of “Automobiles/Industrial equipment.” In addition, as the Company’s main sales of products for Industrial equipment are for base station communication devices and data centers, the name of Industrial equ
Slide 10: Forecast of Consolidated Performance
Forecast of Consolidated Performance for the year ending March 31, 2020 ©TAIYO YUDEN 2017
Slide 11: Full-Year Forecast
Full-Year Forecast FYE Mar 31, 2020 ¥ in million FYE Mar 31, 2019 Change Forecast Net sales 274,349 100.0% 290,000 100.0% 15,651 5.7% Operating income 35,237 12.8% 38,000 13.1% 2,763 7.8% Ordinary income 34,351 12.5% 37,000 12.8% 2,649 7.7% Net income attributable to owners of parent 23,687 8.6% 25,
Slide 12: Capacity increase and depreciation outlook
improve productivity. We project an annual capacity increase of 10-15% for capacitors due to capital investment. Associated with this, we expect that depreciation expenses will increase 1.5 billion yen to 28.0 billion yen.
Slide 13: Factors behind Operating Income in FYE March 2020
Factors behind Operating Income in FYE March 2020 Operating income (FYE Mar 2020) Operating income Forecast (FYE Mar 2019) 38.0 35.2 Effect from capacity utilization +16.5 Effect from cost reductions +3.0 (0.6) Currency (7.6) fluctuations (8.6) Changes in Impact of *Excludes ELNA CO., LTD. selling p
Slide 14: Full-Year Forecast by Product Classification
Full-Year Forecast by Product Classification FYE Mar 31, 2020 ¥ in million FYE Mar 31, 2019 Change Forecast Capacitors 170,633 62.2% 188,000 64.8% 17,367 10.2% Ferrite and applied products 40,595 14.8% 37,000 12.8% (3,595) (8.9)% Integrated modules & devices 47,930 17.5% 47,000 16.2% (930) (1.9)% Ot
Slide 15: Quarterly outlook, capacity utilization and inventory
The company-wide total is expected to increase 0-5% Q/Q. Capacity utilization for capacitors is expected to be 90-95%, remaining at a high level. We will ensure the necessary level of inventory to prepare for a peak in shipments, and our target for company-wide inventory is an increase of 3.0 billio
Slide 16: Supplementary Information
Supplementary Information ©TAIYO YUDEN 2017
Slide 17: Consolidated Earnings Trends (Half Yearly)
Consolidated Earnings Trends (Half Yearly) FYE Mar 31, 2020 FYE Mar 31, 2018 FYE Mar 31, 2019 ¥ in million Forecast 1H 2H 1H 2H 1H 2H Net sales 118,180 125,937 133,565 140,783 145,000 145,000 Capacitors 66,767 76,091 80,168 90,464 93,500 94,500 Ferrite and applied products 20,223 20,753 21,154 19,44
Slide 18: Consolidated Earnings Trends (Quarterly)
Consolidated Earnings Trends (Quarterly) FYE Mar 31, 2018 FYE Mar 31, 2019 ¥ in million 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Net sales 54,072 64,107 66,053 59,883 59,576 73,989 73,963 66,820 Capacitors 29,747 37,019 38,800 37,290 36,184 43,984 47,362 43,101 Ferrite and applied 8,847 11,376 11,746 9,006 9,228 11,
Slide 19: Consolidated Earnings Trends (Quarterly)
Consolidated Earnings Trends (Quarterly) Net sales ©TAIYO YUDEN 2017 15
Slide 20: Orders Received and Order Backlog Trends (Quarterly)
Orders Received and Order Backlog Trends (Quarterly) （¥ in billion） Orders received Order backlog ■ Capacitors ■ Ferrite and applied products ■ Integrated modules & devices ■ Others ©TAIYO YUDEN 2017 16
Slide 21: Forward-looking statements
Forward-looking statements This document contains information about the plans, business results, and strategies of TAIYO YUDEN CO., LTD. and the TAIYO YUDEN Group. These forward-looking statements other than historical facts represent judgments made by the Company based on information available at p
Slide 22: TAIYO YUDEN
©TAIYO YUDEN 2017 TAIYO YUDEN