Meiko Electronics Co., Ltd. · TSE:6787
Meiko Electronics — Q2 FY2017 Earnings Presentation
27 slides from Meiko Electronics's earnings presentation, Nov 16, 2017
Slide 1: FY2017 Q2 Results Briefing Financial Results
FY2017 Q2 Results Briefing Financial Results Nov 16, 2017 （証券コード：6787）
Slide 2: FY2017 2Q Results
１ FY2017 2Q Results 2 The prospect in the future 3 The new product development 1
Slide 3: FY2017 Q2 The settlement of accounts highlights
FY2017 Q2 The settlement of accounts highlights １. The sales are 53.2 billion yen of the year-on-year comparison Net increase by 16.3 %, changing smoothly. sales ･ It changes together for the loading, the smart phone solidly. ･ The build-up substrate increases substantially. １. The operating profit
Slide 4: FY2017 Q2 Consolidated Performance
FY2017 Q2 Consolidated Performance （100million yen） Year-to-year FY2016 FY2017 Q2 Q2 increase % Net Sales 457.4 532.1 +74.7 +16.3% Operating 26.6 38.6 i n c o m e 5.8% 7.3% +12.0 +45.1% Ordinary 1.4 28.2 i n c o m e 0.3% 5.3% +26.8 +1914.3% N e t ▲3.8 21.4 +25.2 i n c o m e ▲0.8% 4.0% - Exchange rat
Slide 5: Analysis of operating profit change 2016 Q2→2017 Q2
Analysis of operatinng profit change 2016 Q2→２０１７Q2 （100million yen） Yield improvement Increase in sales variable cost Fixed cost SG&A FY2016 performance FY2017 performance (exchange rate105.35Yen/us$) (exchange rate111.26Yen/us$) 4
Slide 6: Net Sales, Operating income
Net Sales, Operating income （100million yen） Operating The operating Net Sales Net Sales income profit ratio (total) Operating income 7.3% 5.8% 5.9% 6.0% 5.9% 300 30 277 4.2% 23.5 252 250 255 234 200 223 20 17.3 16.3 15.0 15.1 100 9.3 10 0 0 16Ｑ１ 16Ｑ2 16Ｑ3 16Ｑ4 17Q1 17Q2 5
Slide 7: The management index
The management index （100million yen） 27.3% 28.7% 350 26.8% 24.7% 25.3% 23.9% 315 26% 300 285 292 282 249 256 16% 250 13.4% 200 7.5% 6% 6.3% 3.7% 150 -4% -2.9% 100 -14% 50 -24.0% 0 -24% 2016Q1 2016Q2 2016Q3 2016Q4 2017Q1 2017Q2 Net Worth Capital adequacy ratio ROE Interest- bearing debt 578 554 565
Slide 8: By product Application
By product Application （100 million yen ） Automobiles Smartphones Storage Office equipment Digital home appliances ohers non-PCB 12 (2.3%) FY2017 Q2 235 154 24 (4.5%) 38 (7.2%) 532 (44.2%) (28.9%) 30 39 (5.6%) (7.3%) ＋18 ＋33 ＋24 ＋75 (8.3%) (27.3%) (20.2%) (16.3%) 11 (2.4%) FY2016 Q2 217 121 26 27 (5
Slide 9: By product specification
By product specification （100 million yen ） Double-sided PCB Four-layerPCB Six layers or more HDI PCB others Non-PCB 12 FY2017 (2.3%) 38 150 83 211 532 Q2 (7.1%) (28.2%) (15.6%) (39.7%) 38 (7.1%) ＋7 ＋7 ＋45 ＋75 (4.9%) (9.2%) (27.1%) (16.3%) 5 (1.1%) FY2016 Q2 40 (8.8%) 143 (31.3%) 76 (16.6%) 166 457
Slide 10: FY2017 Q2 Product Revenue
FY2017 Q2 Product Revenue （100million yen） FY2016Q2 FY2017Q2 Operating Operating Sales i n c o m e Sales i n c o m e % % 14.8 16.1 Automotive 217.1 235.4 6.8% 6.8% 7.5 15.7 Smartphones 121.3 153.7 6.2% 10.2% Storage 4.1 4.2 Office equipment 59.7 66.0 Digital home appliances 6.9% 6.4% 0.2 2.6 Others
Slide 11: Smartphone global market share (2017/4-9)
Smartphone global market share(2017/4-9) Vendor Shipment Volume market share １ SamSung 156.8 23.6% ２ Apple 86.9 13.1% ３ Huawei 68.3 10.3% ４ Oppo 59.4 9.0% ５ Vivo 48.8 7.4% ６ Xiaomi 41.5 6.3% Total 663.8 出典：Trendforce Smartphone Top6 10
Slide 12: FY2017 2Q Results
１ FY2017 2Q Results ２ The prospect in the future 3 The new product development 11
Slide 13: The prospect in the future
The prospect in the future ・The good condition continues about Automotive and Smartphone. ・It does productivity up, yield improvement, continuing them. Overview ・It reduces a fixed cost and SG&A expenses. ・It does manpower saving. ・It accelerates the production which increased a domestic investment
Slide 14: FY2017 Full-year forecast
FY2017 Full-year forecast （100million yen） FY2017 FY2016 Year-to- Original plan Revised plan year (%) +100.9 Net Sales 959.1 1,030 1,060 +10.5% Operating 57.9 62 76 +18.1 i n c o m e 6.0% 6.0% 7.2% +31.3% Ordinary 29.8 46 56 +26.2 i n c o m e 3.1% 4.5% 5.3% +87.9％ N e t 17.7 36 45 +27.3 i n c o m e
Slide 15: 2018 Investments
2018 Investments （ 100 million yen） Domestic overseas 120 100 69 100 50 31 31 59 28 27 20 4 10 0 3 FY2016 FY2016 FY2017 FY2018 Depreciation 64 55 57 64 14
Slide 16: FY2018 Foreign capital investment ～Vietnam Plant No. 3～
FY2018 Foreign capital investment ～Vietnam Plant No. 3～ A factory to produce automotive and smartphone-friendly tip board, starts in April next year Automotive high frequency High current High heat dissipation Smartphone MSAP Construction Completion Investment Total floor Date Date area 3-year total
Slide 17: FY2018 Domestic investment ～Yamagata, Ishinomaki～
FY2018Domestic investment ～Yamagata,Ishinomaki～ Accelerating the production using advanced technology Field Substrate type Use high frequency Millimeter-wave radar High current LED lamp Automotive Power supply unit High heat EV・PHV・Charging dissipation equipment High-precision substrate Smartphone M
Slide 18: Business alliance with Hokuriku Electric Industry Co., Ltd.
About the business alliance with Hokuriku Electric Industry Co., Ltd.. module implementing 、 sensor joint development Contents (It effectively uses a mutual sales network, a manufacturing base, a technology） ・The expansion of the customer approach Customer ・The support for the request of Local produ
Slide 19: FY2017 2Q Results
１ FY2017 2Q Results ２ The prospect in the future 3 The new product development 18
Slide 20: The printed-board technology demanded from Automotive & Smartphones
The printed-board technology which is demanded from the Automotive & Smartphones 19
Slide 21: The millimeter wave radar substrate
The millimeter wave radar substrate (The automatic operation) use The forward-cardiac-failure-theory one detection sensor for a car. The high frequency substrate of the hybrid structure. The high-precision pattern formation. characteristic ～ It produces at the Japanese factory of 2018 years. The ove
Slide 22: The camera substrate
The camera substrate (The automatic operation) use The outside world recognition sensor for the car The high density build-up substrate . characteristic Further speeding-up support . ～ The mass production supports at the Japanese factory from 2013. ～ ■The ADAS camera ■The ADAS camera substrate secti
Slide 23: Metal based High Dissipation PCB (EV)
Metal based High Dissipation PCB(EV) use The LED headlamp for the car It makes high radiation by the direct LED chip implementing to the cavity substrate. characteristic ～ It produces at the Japanese factory of 2017 years. The overseas factory mass production schedule of 2020 years ～ ■The usual stru
Slide 24: Thick copper substrate (EV)
Thick copper substrate(EV) use The junction box, the converter, the EV battery for the car Thick copper substrate Heavy-current's making a high-power characteristic ～ It produces at the Japanese factory & The overseas factory mass production schedule of 2013 years ～ ■The heavy-current - high voltage
Slide 25: Power IC built-in substrate (EV)
Power IC built-in substrate(EV) use The power unit for the car The support by the the heavy-current - high radiation Small-sized - the lightening of an unit characteristic ～ It is a mass production target since 2020 years. The customer and the joint development ～ ■The usual structure ( The power IC
Slide 26: The high density build-up substrate (Smartphone)
The high density build-up substrate （Smartphone） use The main board, the module substrate of the next-generation smart phone The main board, the module substrate of the next-generation smart phone characteristic ～ It produces at the Japanese factory & The overseas factory mass production schedule of
Slide 27: http://www.meiko-elec.com/
http://www.meiko-elec.com/