Citizen Watch Co, Ltd. · TSE:7762

Citizen Watch — H1 FY2005 Earnings Presentation

68 slides from Citizen Watch's earnings presentation, Nov 16, 2005

  1. Slide 1: 2005 2005

    2005 2005 11 16 1 2005 2005/11/16

  2. Slide 2: Agenda

    1. 2005 (p.2~) (p.17~) 2. (p.32~) 3. (p.50~) 2 2005 2005/11/16

  3. Slide 3: FY05 interim results summary

    FY04 FY05 1,836 1,619 217 11.9% 203 11.1% 128 8.0% 74 36.6% 229 12.5% 146 9.0% 82 36.2% 115 6.3% 76 4.7% 39 34.4% USD 109 109 0 EURO 133 136 +3 USD 6 4 EURO 1.3 0.5 3 2005 2005/11/16

  4. Slide 4: Sales and operating income trends

    FY04 1,836 1,735 1,630 1,619 19 +5 19 177 FY04 FY04 FY05 FY05 8/16 6 2 203 167 120 128 1 4 66 FY04 FY04 FY05 FY05 +1 8/16 4 2005 2005/11/16

  5. Slide 5: Sales breakdown FY2005 interim

    2005 2005 13 13 10 1,619 128 7 10 1% 4% 14% 3% 3% 2% 10% 5% 9% 34% 11% 36% 6% 7% 52% 1% 28% 9% 36% 2% 3% 4% 20% 5 2005 2005/11/16

  6. Slide 6: Watch segment results

    05 800 590 624 585 584 600 6 400 200 0 FY04 FY04 FY05 FY05 8/16 120 87 90 80 89 20% 90 15% 15.2% +1 14.7% 14.5% 60 13.7% 10% 30 5% 0 0% FY04 FY04 FY05 F05 8/16 6 2005 2005/11/16

  7. Slide 7: LED segment results

    05 800 752 586 570 574 177 600 103 LED 400 83 200 0 FY04 FY04 FY05 FY05 8/16 160 114 64 45 47 20% 120 15% 66 15.2% 80 10% 11.0% 40 7.9% 8.2% 5% 0 0% FY04 FY04 FY05 FY05 8/16 7 2005 2005/11/16

  8. Slide 8: POS segment results

    05 150 134 130 120 115 19 100 POS 50 0 FY04 FY04 FY05 FY05 8/16 20 20% 12 14 10 8 15 15% 4 10 10% 10.8% 9.3% 5 8.3% 5% 7.2% 0 0% FY04 FY04 FY05 FY05 8/16 8 2005 2005/11/16

  9. Slide 9: Segment results

    05 200 171 183 180 176 +5 150 +1 100 +4 50 0 FY04 FY04 FY05 FY05 8/16 40 24 25 25 23 20% 30 15% 1 20 14.0% 13.9% 13.9% 13.0% 10% 10 5% 0 0% FY04 FY04 FY05 FY05 8/16 9 2005 2005/11/16

  10. Slide 10: Segment results

    05 240 187 211 175 168 180 19 13 120 60 0 FY04 FY04 FY05 FY05 8/16 15 4 13 2 2 10% 10 2 6.2% 5% 5 2.3% 1.1% 1.4% 0 0% FY04 FY04 FY05 FY05 8/16 10 2005 2005/11/16

  11. Slide 11: FY05 full-year forecast

    FY04 FY05 3,572 3,390 182 5.1% 370 10.4% 285 8.4% 85 23.2% 401 11.2% 305 9.0% 96 24.0% 202 5.7% 160 4.7% 42 20.9% USD 108 110 +2 EURO 135 136 +1 USD 6 4 EURO 1.3 0.5 11 2005 2005/11/16

  12. Slide 12: Sales and profit history

    04 3,275 3,339 3,757 3,572 3,390 39 +15 +10 208 FY01 FY02 FY03 FY04 FY05 +39 72 196 355 370 285 12 +5 4 97 FY01 FY02 FY03 FY04 FY05 +27 12 2005 2005/11/16

  13. Slide 13: Full-year sales breakdown forecast

    2005 2005 13 3,390 285 7 1% 5% 15% 3% 3% 2% 11% 9% 35% 7% 11% 37% 7% 8% 55% 1% 22% 8% 33% 2% 3% 4% 18% 13 2005 2005/11/16

  14. Slide 14: Capex trends

    300 200 250 201 191 172 100 133 97 0 FY01 FY02 FY03 FY04 FY05 300 200 230 182 166 168 180 100 74 0 FY01 FY02 FY03 FY04 FY05 14 2005 2005/11/16

  15. Slide 15: R&D expense trends

    120 5% 110 106 102 4% 90 94 84 3% 3.2% 3.2% 60 2.9% 2.5% 2.5% 2% 30 1% 0 0% FY01 FY02 FY03 FY04 FY05 15 2005 2005/11/16

  16. Slide 16: Balance sheet trends

    25,000 19,220 18,703 19,864 20,305 20,616 20,000 15,000 10,973 12,029 12,523 12,665 10,909 10,000 5,000 8,247 7,794 7,835 7,782 7,951 0 2002/03 2003/03 2004/03 2005/03 2005/09 16 2005 2005/11/16

  17. Slide 17: Sales by product

    SEN Te 17 2005 2005/11/16

  18. Slide 18: LED quarterly sales

    LED 15,000 14,429 13,412 11,959 11,913 12,000 11,848 10,482 10,787 10,099 10,139 9,297 9,000 7,920 7,986 7,623 6,222 4,964 5,109 6,000 4,938 4,635 4,715 4,145 4,522 3,945 3,000 0 FY00/Q1 Q3 FY01/Q1 Q3 FY02/Q1 Q3 FY03/Q1 Q3 FY04/Q1 Q3 FY05/Q1 18 2005 2005/11/16

  19. Slide 19: LED CITILIGHT sales

    LED CITILIGHT 50,000 40,000 30,000 FY05 20,000 10,000 0 FY00 FY01 FY02 FY03 FY04 FY05 19 2005 2005/11/16

  20. Slide 20: Quarterly sales

    10,000 8,000 6,000 9,199 8,654 8,472 4,000 7,120 7,398 5,349 3,909 5,849 5,906 5,096 3,878 5,095 2,000 2,950 2,930 4,319 4,056 2,150 2,817 1,830 2,216 1,245 1,974 0 FY00/Q1 Q3 FY01/Q1 Q3 FY02/Q1 Q3 FY03Q1 Q3 FY04/Q1 Q3 FY05/Q1 20 2005 2005/11/16

  21. Slide 21: Quarterly sales

    2,000 1,600 1,200 1,736 1,812 1,761 1,682 1,708 1,507 800 1,623 1,554 1,455 1,464 1,342 1,389 1,542 1,372 1,407 1,284 1,308 1,408 1,351 1,006 930 400 912 0 FY00/Q1 Q3 FY01/Q1 Q3 FY02/Q1 Q3 FY03/Q1 Q3 FY04/Q1 Q3 FY05/Q1 21 2005 2005/11/16

  22. Slide 22: Product sales

    SEN Te 22 2005 2005/11/16

  23. Slide 23: TCXO sales

    FY02 TCXO 7,500 6,000 1,001 4,500 745 677 424 627 1,787 1,603 1,241 1,509 1,325 1,496 1,287 3,000 1,500 2,798 2,673 2,558 2,482 2,611 2,575 2,775 0 FY02 FY02 FY03 FY03 FY04 FY04 FY05 23 2005 2005/11/16

  24. Slide 24: Product sales

    SEN Te 24 2005 2005/11/16

  25. Slide 25: Quarterly sales

    1,800 1,495 1,500 1,432 1,457 1,464 1,377 1,315 1,317 1,267 1,260 1,249 1,200 1,141 1,168 1,045 972 987 963 954 909 884 900 841 782 673 600 300 0 FY00/Q1 Q3 FY01/Q1 Q3 FY02/Q1 Q3 FY03/Q1 Q3 FY04/Q1 Q3 FY05/Q1 25 2005 2005/11/16

  26. Slide 26: Quarterly sales

    1,500 1,283 1,233 1,219 1,210 1,222 1,200 1,133 984 910 891 909 900 835 863 817 802 757 752 780 698 709 647 650 600 536 300 0 FY00/Q1 Q3 FY01/Q1 Q3 FY02/Q1 Q3 FY03/Q1 Q3 FY04/Q1 Q3 FY05/Q1 26 2005 2005/11/16

  27. Slide 27: Semiannual sales

    4,000 3,000 3,326 3,174 3,158 3,062 2,903 2,000 1,895 1,720 1,000 0 FY02 FY02 FY03 FY03 FY04 FY04 FY05 27 2005 2005/11/16

  28. Slide 28: FLCD sales

    FLCD 4,000 3,000 2,697 2,496 2,000 2,148 2,154 1,981 1,611 1,000 1,139 0 FY02 FY02 FY03 FY03 FY04 FY04 FY05 28 2005 2005/11/16

  29. Slide 29: Semiannual sales

    2,000 1,500 1,291 1,330 1,000 1,004 981 500 601 489 302 0 FY02 FY02 FY03 FY03 FY04 FY04 FY05 29 2005 2005/11/16

  30. Slide 30: CRT sales

    CRT 1,000 750 784 611 584 500 552 548 486 424 250 0 FY02 FY02 FY03 FY03 FY04 FY04 FY05 30 2005 2005/11/16

  31. Slide 31: Sales and profit targets

    5,000 3,275 3,339 3,757 3,572 3,390 01 02 03 04 05 06 07 08 580 196 355 370 285 14% 72 12% 11.6% 10% 8% 9.5% 10.4% 8.4% 6% 5.9% 4% 2% 2.2% 0% 01 02 03 04 05 06 07 08 31 2005 2005/11/16

  32. Slide 32: Agenda

    1. 2005 (p.2~) (p.17~) 2. (p.32~) 3. (p.50~) 32 2005 2005/11/16

  33. Slide 33: Watch business targets

    1,394 1,335 1,271 1,215 1,255 1,560 1,500 1,000 500 0 01 02 03 04 05 06 07 08 250 84 153 185 177 205 220 30% 200 20% 150 100 16.3% 14.6% 14.6% 14.1% 10% 50 11.5% 6.1% 0 0% 01 02 03 04 05 06 07 08 33 2005 2005/11/16

  34. Slide 34: New Watch BRICs

    New Watch BRICs 34 2005 2005/11/16

  35. Slide 35: BRICs market growth

    2008 1,800 New Watch 1,200 BRICs 600 0 2005 2008 35 2005 2005/11/16

  36. Slide 36: BRICs

    New Watch BRICs 36 2005 2005/11/16

  37. Slide 37: 2001 2002 2003 2004 2005

    80 70 60 50 40 30 20 10 0 2001 2002 2003 2004 2005 37 2005 2005/11/16

  38. Slide 38: 2002 2003 2004 2005 2006 2007 2008 38

    600 500 400 300 200 100 0 2002 2003 2004 2005 2006 2007 2008 38 2005 2005/11/16

  39. Slide 39: 2001 2001 2002 2003 004 2005 39

    2001 100 200 180 160 150 140 120 115 100 80 2001 2002 2003 2004 2005 39 2005 2005/11/16

  40. Slide 40: New Watch

    New Watch Bluetooth PC BRICs 40 2005 2005/11/16

  41. Slide 41: 1997 1998 1999 2000 2001 2002 2003 2004

    1997 1998 1999 2000 2001 2002 2003 2004 41 2005 2005/11/16

  42. Slide 42: LB

    LB 15 5 15 1 5 1 42 2005 2005/11/16

  43. Slide 43: SEN

    SEN WITTE FEELS LLLLL 43 “ 2005/11/16

  44. Slide 44: CITIZEN

    CITIZEN VAGARY 2005/11/16 2005

  45. Slide 45: 1997 1997 2004 2004 2005 1997 2004 2004 2005 2004 2004 140 140 45

    1997 1997 2004 3 2004 10 2005 10 1997 2004 3 2004 10 2005 10 2004 2004 140 140 45 2005 2005/11/16

  46. Slide 46: - 2006

    - 2006 1 4 5 46 2005 2005/11/16

  47. Slide 47: SHAS

    SHAS a 47 2005 2005/11/16

  48. Slide 48: ZEN

    ZEN FURLA 2005 2005/11/16

  49. Slide 49: SEN

    SEN Te 49 2005 2005/11/16

  50. Slide 50: Agenda

    1. 2005 (p.2~) (p.17~) 2. (p.32~) 3. (p.50~) 50 2005 2005/11/16

  51. Slide 51: Device business targets

    3,000 895 1,074 1,547 1,338 1,130 2,110 2,000 1,000 0 01 02 03 04 05 06 07 08 313 400 26 61 172 178 81 15% 14.8% 300 13.3% 10% 11.2% 200 7.2% 5% 100 5.7% 2.9% 0 0% 01 02 03 04 05 06 07 08 51 2005 2005/11/16

  52. Slide 52: CMOS

    Stee CMOS 52 2005 2005/11/16

  53. Slide 53: LED

    LED LED LED / LED 53 2005 2005/11/16

  54. Slide 54: LED market and adoption

    LED 2003 2004 2005 2006 2007 2008 2009 2010 510,000 630,000 770,000 805,000 866,000 932,000 970,000 1,000,000 43,000 77,500 185,500 247,135 308,296 394,236 436,500 500,000 467,000 552,500 584,500 557,865 557,704 537,764 533,500 500,000 8.4% 12.3% 24.1% 30.7% 35.6% 42.3% 45.0% 50.0% 1,200,000 100% 1,

  55. Slide 55: LED sales forecast

    LED LED 5,700 6,000 5,000 4,000 4,000 3,000 2,000 900 1,000 385 23 49 125 0 2004 2005 2006 2007 2008 2010 2015 55 2005 2005/11/16

  56. Slide 56: LED

    LED LED LED 70lm/W 80lm/W 56 2005 2005/11/16

  57. Slide 57: LED market

    LED LED LED 1,600 1,367 CL-L100 1,400 1,200 1,000 831 800 600 440 400 266 106 190 200 81 0 2002 2003 2004 2005 2006 2007 2008 JEITA CL-L100 LED CL-L100 70lm/W HID LED 57 2005 2005/11/16

  58. Slide 58: LED adoption forecast

    ( 2003 2004 2005 2006 2007 2008 2009 2010 510,000 630,000 770,000 805,000 866,000 932,000 970,000 1,000,000 240,210 480,690 633,710 665,735 723,110 800,588 866,210 960,000 269,790 149,310 136,290 139,265 142,890 131,412 103,790 40,000 47.1% 76.3% 82.3% 82.7% 83.5% 85.9% 89.3% 96.0% 1,200,000 100% 90

  59. Slide 59: 0.4mm 0.4mm 0.65mm

    0.4mm 08 160 0.4mm 20 0.65mm 50 60 59 2005 2005/11/16

  60. Slide 60: RGB LED market

    50,000 47,000 100,000 90,000 12,000 10,800 40,000 80,000 10,000 30,000 54,000 7,900 60,000 20,000 16,000 8,000 40,000 6,000 10,000 0 20,000 4,000 2005 2008 2005 2008 2005 2008 ○ RED GREEN BLUE LED ○ CCFL 12 ○ CCFL ○ LED YAG ○ CCFL ○ ○ ○ 60 2005 2005/11/16

  61. Slide 61: Display market

    DVD or Display DVD FSC PNLC Display *CSTN,TFT 2005 2006 2007 2008 FSC Field Sequential Color) PNLC(Polymer Network) DVD 61 2005 2005/11/16

  62. Slide 62: Crystal devices

    AT/OSC 216H 325M 252H SMD 213 315 252T 216T TCXO /AT/OSC IC 2005 2006 2007 2008 / 62 2005 2005/11/16

  63. Slide 63: ZEN

    ZEN 63 2005 2005/11/16

  64. Slide 64: PIM CNC

    PIM CNC IP DLC TIC 64 2005 2005/11/16

  65. Slide 65: CMOS

    AF CMOS CMOS CMOS CMOS AF 65 2005 2005/11/16

  66. Slide 66: 2003 2004 2005 2006 2007 2008 2009 2010 510,000 630,000 770,000 805,000 866,000 932,000

    2003 2004 2005 2006 2007 2008 2009 2010 510,000 630,000 770,000 805,000 866,000 932,000 970,000 1,000,000 71,400 189,000 340,340 487,025 571,560 633,760 683,850 735,000 438,600 441,000 429,660 317,975 294,440 298,240 286,150 265,000 14.0% 30.0% 44.2% 60.5% 66.0% 68.0% 70.5% 73.5% 1,200,000 100% 90%

  67. Slide 67: ZEN

    ZEN —— 10 2005 67 2005/11/16

  68. Slide 68: 68

    68 2005 2005/11/16

Citizen Watch — H1 FY2005 Earnings Presentation on 6ix