Slide 1: 2nd Quarter FY2018 Financial Results
2nd Quarter FY2018 Financial Results August 6, 2018 Tamron Co., Ltd. (Code: 7740) Tamron Co., Ltd.
Slide 2: Contents
Contents Ⅰ. FY 2018 Summary Ⅳ. Reference Data 1. 1st Half FY2018 Summary 1. Financial Summary 2. FY2018 Overview 2. Capital Investment, Depreciation, and Research & Development Expenses 3. Cash Flow Situation Ⅱ. 2nd Quarter FY2018 Financial Results 4. Cash Dividends Outlook and 1. 1st Half FY2018 Fi
Slide 3: FY2018 Summary
Ⅰ．FY 2018 Summary 3 Copyright © Tamron Co., Ltd. All rights reserved.
Slide 4: 1st Half FY2018 Summary
Ⅰ-１. 1st Half FY2018 Summary 【Business Environment】 Economic Situation (comparison from the previous year) • Digital SLR cameras: 4% down in quantity-base, 1% increase in money-base. • Interchangeable lenses: 2% down in quantity-base, 4% increase in money-base. • Lens-integrated cameras: 40% down
Slide 5: FY2018 Overview
Ⅰ-２. FY2018 Overview 【Business Environment from 2 n d Half】 Economic Situation : • Digital SLR camera and Interchangeable lens markets are expected to show positive increase in money-base. • Lens-integrated camera market are continuously expected to shrink significantly. Exchange Rate Assumption
Slide 6: 2nd Quarter FY2018 Financial Results
Ⅱ．2nd Quarter FY2018 Financial Results 6 Copyright © Tamron Co., Ltd. All rights reserved.
Slide 7: 1st Half FY2018 Financial Results
Ⅱ-１. 1st Half FY2018 Financial Results （millions of JPY） Actual Forecast Actual Inc / Dec Inc / Dec 1st H FY17 1st H FY18 1st H FY18 (a) (b) (c) (c)-(a) % (c)-(b) % Net Sales 26,912 27,800 28,572 1,659 106.2% 772 102.8% Gross profit 9,002 － 9,661 658 107.3% － － (% Sales) 33.5% － 33.8% 0.3% － － － Ope
Slide 8: 1st Half FY2018 Performance Variation Factors
Ⅱ-２. 1st Half FY2018 Performance Variation Factors （millions of JPY） 2500 1,959 270 268 2000 180 1500 600 1,177 1000 500 0 Actual Increase Reduction FX rate Others Actual 1st H of Sales of Impact 1st H FY17 Expenses FY18 8 Copyright © Tamron Co., Ltd. All rights reserved.
Slide 9: 1st Half FY2018 Results by Segment: Photographic Products
Ⅱ-３. 1st Half FY2018 Results by Segment 1) Photographic Products （millions of JPY） Actual Forecast Actual Inc / Dec FX Impact Inc / Dec 1st H FY17 1st H FY18 1st H FY18 vs. 1st H FY17 (a) (b) (c) (c)-(a) % (c)-(b) % Net Sales 19,776 20,700 21,650 1,874 109.5% 10 950 104.6% Operating 1,651 2,400 2,91
Slide 10: 1st Half FY2018 Results by Segment: Optical Components
Ⅱ-３. 1st Half FY2018 Results by Segment 2) Optical Components （millions of JPY） Actual Forecast Actual Inc / Dec FX Impact Inc / Dec 1st H FY17 1st H FY18 1st H FY18 vs. 1st H FY17 (a) (b) (c) (c)-(a) % (c)-(b) % Net Sales 1,532 1,200 1,209 (322) 79.0% (40) 9 100.8% Operating 187 0 (25) (213) － 10 (
Slide 11: 1st Half FY2018 Results by Segment: Commercial / Industrial-Use Optics
Ⅱ-３. 1st Half FY2018 Results by Segment 3) Commercial / Industrial-Use Optics （millions of JPY） Actual Forecast Actual Inc / Dec FX Impact Inc / Dec 1st H FY17 1st H FY18 1st H FY18 vs. 1st H FY17 (a) (b) (c) (c)-(a) % (c)-(b) % Net Sales 5,604 5,900 5,711 107 101.9% (120) (188) 96.8% Operating 427
Slide 12: FY2018 Financial Forecast
Ⅲ．FY2018 Financial Forecast 12 Copyright © Tamron Co., Ltd. All rights reserved.
Slide 13: FY2018 Financial Forecast
Ⅲ-１. FY2018 Financial Forecast （millions of JPY） 1H Net Sales 2H Original Revised Actual Inc / Dec Inc / Dec 80,000 Forecast Forecast FY17 FY18 FY18 60,000 (a) (c) (c)-(a) % (c)-(b) % (b) 29,404 33,583 34,427 40,000 Net Sales 60,496 63,000 63,000 2,503 104.1% 0 100.0% Operating 20,000 4,246 4,800 5,
Slide 14: FY2018 Forecast by Segment: Photographic Products
Ⅲ-２. FY2018 Forecast by Segment 1) Photographic Products （millions of JPY） Original Revised Actual Inc / Dec Inc / Dec Forecast Forecast FY17 FY18 FY18 (a) (c) (c)-(a) % (c)-(b) % (b) Net Sales 45,292 46,300 47,600 2,307 105.1% 1,300 102.8% Operating 5,818 6,500 7,350 1,531 126.3% 850 113.1% Income
Slide 15: Photographic Products - New Models
One more new model will be launched in 2 nd Photographic Products - New Models Half, 2018 Launched To be Launched Category Launched in 2017 in 1st Half, 2018 in 2nd Half, 2018 To be Launched Launched in Sep. Wide in Mar. 17-35mm F/2.8-4 OSD (A037) Zoom 10-24mm VC HLD (B023) ※ The smallest, lightest
Slide 16: FY2018 Forecast by Segment: Optical Components
Ⅲ-２. FY2018 Forecast by Segment 2) Optical Components （millions of JPY） Original Revised Actual Inc / Dec Inc / Dec Forecast Forecast FY17 FY18 FY18 (a) (b) (c) (c)-(a) % (c)-(b) % Net Sales 3,375 3,400 3,100 (275) 91.8% (300) 91.2% Operating (24) 200 50 74 － (150) 25.0% Income (% Sales) (0.7)％ 5.9%
Slide 17: FY2018 Forecast by Segment: Commercial / Industrial-Use Optics
Ⅲ-２. FY2018 Forecast by Segment 3) Commercial / Industrial-Use Optics （millions of JPY） Original Revised Actual Inc / Dec Inc / Dec Forecast Forecast FY17 FY18 FY18 (a) (b) (c) (c)-(a) % (c)-(b) % Net Sales 11,827 13,300 12,300 472 104.0% (1,000) 92.5% Operating 827 900 350 (477) 42.3% (550) 38.9% I
Slide 18: Reference Data
Ⅳ．Reference Data 18 Copyright © Tamron Co., Ltd. All rights reserved.
Slide 19: Financial Summary
Ⅳ-１. Financial Summary （millions of JPY） Inventories Jun30, Dec 31, Jun 30, Inventries Turnover Change 2.3 （Month） 2017 2017 2018 15,000 2.5 (c)-(b) 2.2 (a) (b) (c) 1.9 12,000 2.0 Cash & Deposits 17,645 19,431 21,976 2,544 9,000 1.5 Notes & Accounts 11,991 14,061 12,222 (1,839) 6,000 1.0 Receivable
Slide 20: Capital Investment, Depreciation, & Research & Development Expenses
Ⅳ-２. Capital Investment, Depreciation, & Research & Development Expenses Capital Investment & Depreciation Research & Development Expenses (Ratio of R&D Expenses （millions of JPY） （millions of JPY） /Net Sales) Capital Ivestment Depreciation 5,000 5,000 10.0% 4,052 4,111 4,150 4,002 4,000 3,812 4,000
Slide 21: Cash Flow Situation
Ⅳ-３. Cash Flow Situation （millions of JPY） 1st H FY17 FY17 1st H FY18 10,000 7,661 Operating CF 8,000 Investing CF 6,000 5,487 4,558 Free CF 4,250 3,877 Financing CF 4,000 3,056 2,000 0 (2,000) (680) (1,017) (1,194) (1,358) (2,174) (2,351) (4,000) (6,000) 1st H FY17 FY17 1st H FY18 Cash Flow from Op
Slide 22: Cash Dividends Outlook & Key Performance Indicators
Ⅳ-４. Cash Dividends Outlook & Key Performance Indicators （JPY） Cash Dividends Key Performance Indicators （JPY） 200 EPS 10.0% 100 96.2% Year-End 100.0% 9.2% ROE Dividend Interm 8.0% ROA 7.8% 80 80.0% 8.0% Dividend 150 7.8% 6.6% 7.6% 7.2% 60 60.0% 6.0% 45.7% 4.5% 5.8% 100 39.0% 35.7% 35.5% 4.0% 40 30
Slide 23: Impact of Foreign Exchange Rate Fluctuations
Ⅳ-６. Impact of Foreign Exchange Rate Fluctuations Actual 1st Half FY2018 (JPY) （millions of JPY） Exchange Rate Impact Actual Actual Operating Net Sales 1st H FY17 1st H FY18 Income USD 112.35 108.68 (550) (10) EUR 121.70 131.58 360 290 Others - - 40 (10) Total - - (150) 270 (Impact on previous year
Slide 24: Disclaimer
Disclaimer 1. The purpose of this material is to provide information on the actual results for 1st Half of FY2018 and future business strategies. It is not an offer or a solicitation of an offer to buy or sell securities. 2. This material and the information provided verbally in the companyʼs presen