Slide 1: 1st Quarter FY2024 Financial Results
1st Quarter FY2024 Financial Results April 26, 2024 Tamron Co., Ltd. (Code: 7740)
Slide 2: Contents
Contents I. 1st Quarter FY2024 Financial Results III. Reference Data 1. 1st Quarter FY2024 Summary 1. Financial Summary 2. 1st Quarter FY2024 Financial Results 2. Capital Investment, Depreciation, and 3. Factors Affecting Operating Income Variability R&D Expenses 4. 1st Quarter FY2024 Results by Seg
Slide 3: Ⅰ. 1st Quarter FY2024 Financial Results
Ⅰ. 1st Quarter FY2024 Financial Results
Slide 4: Ⅰ-1. 1st Quarter FY2024 Summary
Ⅰ-１. 1st Quarter FY2024 Summary Environment Economy Market Moderate economic recovery despite some stagnation in overseas economies In the interchangeable lens camera market, although DSLR cameras were Uncertainty continues due to geopolitical risks such as the prolonged situation in weak, mir
Slide 5: Ⅰ-2. 1st Quarter FY2024 Financial Results
Ⅰ-２. 1st Quarter FY2024 Financial Results Sales of mainstay Photographic Products Segment increased by approximately 1.5 times, and sales of Mobility & Healthcare Products, Others Segment led by Automotive Lenses, increased by approximately 1.7 times, driving overall Net Sales Maintain gross pro
Slide 6: Ⅰ-3. Factors Affecting Operating Income Variability
Ⅰ-３. Factors Affecting Operating Income Variability Both of Net sales and Operating Income increased in double digit even without favorable foreign exchange effects (Net Sales increased by approximately 1.4 times and Operating Income Increased by approximately 1.7 times YoY) （Millions of JPY） 1st Qu
Slide 7: Results by Segment: Photographic Products
Ⅰ-４. 1st Quarter FY2024 Results by Segment ①Photographic Products Sales of Own-Brand products increased by double digits, even excluding favorable foreign exchange effects, due to the impact of the launch of a new models last year and continued strong performance in the domestic and Chinese market
Slide 8: Surveillance & FA Lenses
②Surveillance & FA Lenses Sales of Surveillance lenses decreased due to continued efforts to optimize inventory levels at camera manufacturers. Sales of FA lenses continually increased driven by the expansion of the lineup. Sales of Camera Module increased due to significant contribution of ne
Slide 9: Mobility & Healthcare, Others
③ Mobility ＆Healthcare, Others Sales of Automotive lenses increased significantly by more than 70% due to strong demand mainly for sensing applications due to the popularization of Advanced Driving Assistant System (ADAS). Sales of Healthcare components in the cultivation field increased by appr
Slide 10: Summary of revenue and operating income by segment
Summary of revenue and operating income by segment （Millions of JPY） 1Q FY23 YoY (%) 2Q FY23 YoY (%) 3Q FY23 YoY (%) 4Q FY23 YoY (%) 1Q FY24 YoY (%) Photographic Net Sales 9,615 1.3 13,809 4.3 14,207 26.6 15,399 33.2 13,944 45.0 Products Operating Income 2,666 20.0 3,839 8.3 3,948 30.0 3,553 51.0 4,
Slide 11: Ⅱ. 1st Half Revised Financial Forecast & Full Year Financial Forecast FY2024
Ⅱ. 1st Half Revised Financial Forecast & Full Year Financial Forecast FY2024
Slide 12: Ⅱ-1. Financial Forecast FY2024 (1st Half & Full Year)
Ⅱ-１. Financial Forecast FY2024 (1st Half & Full Year) Both sales and profit have been revised upward by double digits in the first half Although the full-year forecasts are unchanged due to due to strong sales, the positive impact of the weaker yen, and the first quarter results uncertainties in
Slide 13: Ⅱ-2. Financial Forecast FY2024 by Segment: Photographic Products
Ⅱ-２. Financial Forecast FY2024 (1st Half & Full Year) by Segment ① Photographic Products Both in Own-Brand products and OEM products, double-digit upward revision of Original Forecast to double-digit sales growth Despite of increase in materials costs due to higher raw material costs, planned to
Slide 14: Photographic Products-New Models
Number of new models launched annually : Before 2023: Approximately 5 new models ⇒ Original plan for 2024: 6 new models ⇒ Revised plan for 2024: 7 new models Photographic Products-New Models 2021 2022 2023 June May Wide-angle Zoom 11-20mm F/2.8 RXD (B060) 11-20mm F/2.8 RXD (B060) The 4th model for F
Slide 15: Surveillance & FA Lenses
② Surveillance & FA Lenses Although inventory adjustments at customers are gradually being eliminated, sales of Surveillance lenses are expected to decrease due to the impact of prolonged inventory adjustments. Sales of FA lenses and camera modules are expected to exceed the Original Forecast du
Slide 16: Mobility & Healthcare, Others
③Mobility ＆Healthcare, Others Continued strong demand for Automotive lenses sales expected to increase by more than 30% Sales of Healthcare components are expected to continue to increase by double digits due to steady sales growth. Planning to maintain profitability at the same level as the p
Slide 17: Ⅲ. Reference Data
Il. Reference Data
Slide 18: Ⅲ-1. Financial Summary
Ⅲ-１. Financial Summary Assets Liabilities・Net Assets （Millions of JPY） （Millions of JPY） 100,000 100,000 87,062 86,255 87,062 86,255 75,556 80,000 74,872 14,226 12,494 80,000 28,315 2,102 2,589 32,640 11,270 60,000 2,481 60,000 29,085 16,339 14,844 40,000 10,106 40,000 70,732 71,171 14,640 14,801 61
Slide 19: Ⅲ-2. Capital Investment, Depreciation, and R&D Expenses
Ⅲ-２. Capital Investment, Depreciation, and R&D Expenses Capital Investment・Depreciation R&D Expenses For Rationalization/Labor saving 3 （Millions of JPY） For New bussiness/R&D 1 10,000 12% For Increase For New model capacity 9 development 20 9.7% 10% For 2nd plant in 8,000 Vietnam 12 For 8.7% 8.6% M
Slide 20: Ⅲ-3. Cash Flow
Ⅲ-３. Cash Flow （Millions of JPY） 12,000 10,027 10,000 8,000 6,000 4,881 4,000 1,738 1,376 2,000 791 0 (45) (2,000) (946) (1,791) (1,422) (4,000) (2,778) (6,000) (5,145) (4,763) (8,000) 23/3 23/12 24/3 Operating CF Investing CF Free CF Financing CF 23/3 23/12 24/3 Operating Activities CF 1,738 10,027
Slide 21: Ⅲ-4. Cash Dividends Outlook & Key Performance Indicators
Ⅲ-４. Cash Dividends Outlook & Key Performance Indicators Cash Dividends Key Performance Indicators （JPY） 2024 （JPY） Repurchase of 300 56.3% treasury stock 60% 800 20% (2.0Bill.) 2023 17.2% 250 Record-high 50% 16.1% 15.9% dividend for 3 consecutive year 40.9% 16.5% 33.0% 600 15% 200 40% 32.9% 14.8% 1
Slide 22: Ⅲ-5. Foreign exchange impact
Ⅲ-５. Foreign exchange impact Foreign exchange impact on 1Q FY24 Impact (Millions of JPY) 1Q FY23 1Q FY24 Net Sales Operating Income USD/JPY 132.44 148.63 1,110 170 EUR/JPY 142.23 161.38 160 120 Others - - 260 200 Total - - 1,530 490 （Foreign exchange impact on previous year results） Foreign exchange
Slide 23: Disclaimer
Disclaimer 1. The purpose of this material is to provide information on the actual results for 1Q FY2024 and future business strategies. It is not an offer or a solicitation of an offer to buy or sell securities. 2. The information provided in this material is based on the data that is obtainable at