Taiyo Yuden Co., Ltd. · TSE:6976

Taiyo Yuden — Q3 FY2022 Earnings Presentation

30 slides from Taiyo Yuden's earnings presentation, Feb 7, 2023

  1. Slide 1: Consolidated Financial Results

    Consolidated Financial Results Third quarter for the year ending March 31, 2023 Katsuya Sase Chief of Management Planning Headquarters February 7, 2023 ©TAIYO YUDEN 2017

  2. Slide 2: Financial Summary

    Financial Summary 3Q for the Year Ending March 2023 Net sales were ¥79.0 billion, down 8% Q/Q. Sales of capacitors were down 12% Q/Q as sales of products for use mainly in information equipment declined although sales for use in communication equipment and automobiles increased. Operating profit was

  3. Slide 3: 3Q - Consolidated Financial Results (Q/Q)

    3Q - Consolidated Financial Results (Q/Q) FYE Mar 31, 2023 FYE Mar 31, 2023 ¥ in million 2Q 3Q Change Q/Q (01 Jul 2022 – 30 Sep 2022) (01 Oct 2022 – 31 Dec 2022) Net sales 86,272 100.0% 79,032 100.0% (7,240) (8.4)% Operating profit 16,475 19.1% 6,462 8.2% (10,012) (60.8)% Ordinary profit 18,355 21.3

  4. Slide 4: 3Q - Factors behind Operating Profit (Q/Q)

    3Q - Factors behind Operating Profit (Q/Q) Operating profit (2Q FYE Mar 2023) 16.5 Operating profit (3Q FYE Mar 2023) Changes Currency 6.5 Effect from cost in fluctuations reductions fixed costs +2.8 ±0.0 +1.2 (1.9) Impact of selling price (12.1) Effect from capacity utilization ©TAIYO YUDEN 2017 4

  5. Slide 5: 3Q - Financial Results by Product Classification (Q/Q)

    3Q - Financial Results by Product Classification (Q/Q) FYE Mar 31, 2023 FYE Mar 31, 2023 ¥ in million Change Q/Q 2Q 3Q Capacitors 56,438 65.4% 49,867 63.1% (6,570) (11.6)% Inductors 15,156 17.6% 15,212 19.2% 55 0.4% Integrated modules & devices 8,276 9.6% 7,358 9.3% (918) (11.1)% Others 6,400 7.4% 6

  6. Slide 6: 3Q - Financial Results by Product Classification (Q/Q)

    3Q - Financial Results by Product Classification (Q/Q) ■ Capacitors ((11.6)% Q/Q) Sales increased for use in communication equipment and automobiles, while sales decreased for use in information equipment, IT infrastructure/industrial equipment among others. ■ Inductors (+0.4% Q/Q) Sales of products

  7. Slide 7: Sales by Market Sector

    Sales by Market Sector Consumer products • TV • Game console • Smart watch Information equipment • Tablet device • PC • HDD, SSD Communication equipment • Smartphone Automotive • ADAS • Meter cluster • ECU IT infrastructure/ Industrial equipment • Base station communication device • Server • Securit

  8. Slide 8: Forecast of Consolidated Performance

    Forecast of Consolidated Performance for the year ending March 31, 2023 ©TAIYO YUDEN 2017

  9. Slide 9: Full-Year Forecast (compared with the previous forecast)

    Full-Year Forecast (compared with the previous forecast) FYE Mar 31, 2023 FYE Mar 31, 2023 ¥ in million 1H Forecast as of Nov 7 Forecast as of Feb 7 Actual results 2H Full year 2H Full year Net sales 168,013 173,987 342,000 146,987 315,000 Operating profit 29,618 12,382 42,000 1,382 31,000 Ordinary

  10. Slide 10: Full-Year Forecast (Y/Y)

    Full-Year Forecast (Y/Y) FYE Mar 31, 2023 ¥ in million FYE Mar 31, 2022 Change Y/Y Forecast as of Feb 7 Net sales 349,636 100.0% 315,000 100.0% (34,636) (9.9)% Operating profit 68,218 19.5% 31,000 9.8% (37,218) (54.6)% Ordinary profit 72,191 20.6% 32,500 10.3% (39,691) (55.0)% Profit attributable to

  11. Slide 11: Factors behind Operating Profit (Y/Y)

    Factors behind Operating Profit (Y/Y) Operating profit (FYE Mar 2022) 68.2 Operating profit (FYE Mar 2023) Currency fluctuations 31.0 +26.3 (2.0) (1.6) Effect from Changes (13.7) cost in Impact of reductions fixed costs selling price (46.2) Effect from capacity utilization ©TAIYO YUDEN 2017 11

  12. Slide 12: Forecast by Product Classification (compared with the previous forecast)

    Forecast by Product Classification (compared with the previous forecast) FYE Mar 31, 2023 FYE Mar 31,2023 ¥ in million 1H Forecast as of Nov 7 Forecast as of Feb 7 Actual results 2H Full year 2H Full year Capacitors 111,021 114,979 226,000 93,979 205,000 Inductors 26,905 29,095 56,000 25,095 52,000

  13. Slide 13: Forecast by Product Classification (Y/Y)

    Forecast by Product Classification (Y/Y) FYE Mar 31,2023 ¥ in million FYE Mar 31, 2022 Change Y/Y Forecast as of Feb 7 Capacitors 230,383 65.9% 205,000 65.1% (25,383) (11.0)% Inductors 48,925 14.0% 52,000 16.5% 3,075 6.3% Integrated modules & devices 48,799 14.0% 32,000 10.2% (16,799) (34.4)% Others

  14. Slide 14: 4Q - Forecast by Product Classification

    4Q - Forecast by Product Classification FYE Mar 31, 2023 FYE Mar 31, 2023 ¥ in million 4Q 3Q Forecast （Q/Q） Capacitors 49,867 (12)% Inductors 15,212 (35)% Integrated modules & devices 7,358 (2)% Others 6,594 +2% Total net sales 79,032 (14)% Yen/USD (Assumption) average exchange rate 144.27 yen 130.0

  15. Slide 15: Shareholder Return Policy

    Shareholder Return Policy Annual cash dividends per 20 20 21 26 40 80 90 share (yen) Net income per share (yen) 46.08 138.80 189.93 143.04 227.99 433.46 160.50 Aim to achieve a stable dividend payout ratio of 30% ©TAIYO YUDEN 2017 15

  16. Slide 16: Supplementary Information

    Supplementary Information ©TAIYO YUDEN 2017

  17. Slide 17: Impact of International Situation, COVID-19 and Other Factors

    Impact of International Situation, COVID-19 and Other Factors Shipments were sluggish in the first and third quarters given the Sales impact of lockdowns in some regions as a countermeasure to COVID-19. Although procurement costs are rising and procurement lead Procurement times increasing, we do no

  18. Slide 18: 3Q - Consolidated Financial Results (Y/Y)

    3Q - Consolidated Financial Results (Y/Y) FYE Mar 31, 2022 FYE Mar 31, 2023 ¥ in million 3Q 3Q Change Y/Y Net sales 89,840 100.0% 79,032 100.0% (10,807) (12.0)% Operating profit 17,643 19.6% 6,462 8.2% (11,181) (63.4)% Ordinary profit 18,390 20.5% 2,572 3.3% (15,817) (86.0)% Profit attributable to o

  19. Slide 19: 3Q - Factors behind Operating Profit (Y/Y)

    3Q - Factors behind Operating Profit (Y/Y) Operating profit (3Q FYE Mar 2022) 17.6 Operating Currency profit fluctuations (3Q FYE Mar +9.0 2023) Changes 6.5 in fixed costs +1.8 (0.5) Effect from (4.6) cost Impact of reductions selling price (16.8) Effect from capacity utilization ©TAIYO YUDEN 2017 1

  20. Slide 20: 3Q - Financial Results by Product Classification (Y/Y)

    3Q - Financial Results by Product Classification (Y/Y) FYE Mar 31, 2022 FYE Mar 31, 2023 ¥ in million Change Y/Y 3Q 3Q Capacitors 59,787 66.5% 49,867 63.1% (9,919) (16.6)% Inductors 12,957 14.4% 15,212 19.2% 2,255 17.4% Integrated modules & devices 11,351 12.6% 7,358 9.3% (3,993) (35.2)% Others 5,74

  21. Slide 21: 3Q - Financial Results by Product Classification (Y/Y)

    3Q - Financial Results by Product Classification (Y/Y) ■ Capacitors ((16.6)% Y/Y) Although sales of products for use in automobiles increased, sales of products for other applications decreased. ■ Inductors (+17.4% Y/Y) Sales of products for use in a wide range of applications increased, primarily f

  22. Slide 22: 1-3Q - Consolidated Financial Results (Y/Y)

    1-3Q - Consolidated Financial Results (Y/Y) FYE Mar 31, 2022 FYE Mar 31, 2023 ¥ in million Change Y/Y 1-3Q 1-3Q Net sales 262,510 100.0% 247,046 100.0% (15,464) (5.9)% Operating profit 52,299 19.9% 36,080 14.6% (16,218) (31.0)% Ordinary profit 53,934 20.5% 38,132 15.4% (15,802) (29.3)% Profit attrib

  23. Slide 23: 1-3Q - Factors behind Operating Profit (Y/Y)

    1-3Q - Factors behind Operating Profit (Y/Y) Operating profit (1-3Q FYE Mar 2022) 52.3 Operating profit (1-3Q FYE Mar 2023) 36.1 Currency fluctuations +22.1 (1.5) (2.3) (7.8) Effect from Changes in Impact of cost fixed costs selling price reductions (26.7) Effect from capacity utilization ©TAIYO YUD

  24. Slide 24: 1-3Q - Financial Results by Product Classification (Y/Y)

    1-3Q - Financial Results by Product Classification (Y/Y) FYE Mar 31, 2022 FYE Mar 31, 2023 ¥ in million Change Y/Y 1-3Q 1-3Q Capacitors 172,031 65.5% 160,889 65.1% (11,142) (6.5)% Inductors 37,207 14.2% 42,118 17.0% 4,910 13.2% Integrated modules & devices 37,288 14.2% 24,794 10.0% (12,494) (33.5)%

  25. Slide 25: 1-3Q - Financial Results by Product Classification (Y/Y)

    1-3Q - Financial Results by Product Classification (Y/Y) ■ Capacitors ((6.5)% Y/Y) Sales of products for use in automobiles and IT infrastructure/ industrial equipment increased, while sales for use in communication equipment, such as smartphones, among others decreased. ■ Inductors (+13.2% Y/Y) Sal

  26. Slide 26: Consolidated Earnings Trends (Quarterly)

    Consolidated Earnings Trends (Quarterly) FYE Mar 31, 2021 FYE Mar 31, 2022 FYE Mar 31, 2023 ¥ in million 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Net sales 60,493 79,728 81,226 79,471 83,836 88,833 89,840 87,125 81,740 86,272 79,032 Capacitors 40,075 52,596 51,895 50,630 53,209 59,035 59,787 58,352 54,583 5

  27. Slide 27: Consolidated Earnings Trends (Quarterly)

    Consolidated Earnings Trends (Quarterly) Net sales ©TAIYO YUDEN 2017 27

  28. Slide 28: Orders Received and Order Backlog Trends (Quarterly)

    Orders Received and Order Backlog Trends (Quarterly) (¥ in billion) ■ Capacitors ■ Inductors ■ Integrated modules & devices ■ Others ©TAIYO YUDEN 2017 28

  29. Slide 29: 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

  30. Slide 30: ©TAIYO YUDEN 2017

    TAIYO YUDEN @©TAIYO YUDEN 2017

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