Slide 1: Consolidated Financial Results 4Q & Full-Year FY2013
Sumida Corporation Consolidated Financial Results < 4Q & Full-Year of FY 2013 > February 13, 2014
Slide 2: Consolidated Financial Results - CFO Yoshiyuki Honda
Sumida Corporation Consolidated Financial Results <4Q & Full-Year of FY2013 > CFO Yoshiyuki Honda February 13, 2014
Slide 3: Consolidated P/L for Full-Year of FY2013
Consolidated P/L for Full-Year of FY2013 （Million yen） FY2012 FY2013 Change % (A) （B) （B)/(A) S a l e s 51,300 63,893 24.5％ G r o ss Inc ome 9,649 11,052 14.5％ % 18.8％ 17.3％ Operating Income 1,754 1,698 △3.2％ % 3.4％ 2.7％ Ordinary Income 1,148 1,107 △3.5％ Income before Taxes 826 817 △1.1％ N e t I n c
Slide 4: Operating Income Analysis FY2012 → FY2013
Operating Income Analysis FY2012 → FY2013 Revenue UP Copper 700 Price （Million yen） DOWN Productivity 190 UP 340 Others China 44 Wages Ex. Rates China UP △765 Welfare ex. △420 Operating UP Operating Income △145 Income 1,754 1,698 FY2012 FY2013 Copyright© 2014 SUMIDA CORPORATION. All rights reserved.
Slide 5: Extraordinary Income/Loss Analysis
Extraordinary Income/Loss Analysis （Million yen） FY2013 Insurance proceeds 1,426 Extraordinary Sale of fixed assets 1,188 I n c o m e Others 20 TOTAL 2,634 Loss from floods in 1,742 Germany Impairment loss 748 Extraordinary Office relocation Ex. 202 L o s s Business restructuring Ex. 185 Others 44 T
Slide 6: Consolidated B/S
Consolidated B/S （Million yen） Dec31, 2012 Dec31, 2013 Change Dec31, 2012 Dec31,2013 Change Current Assets 23,277 29,588 6,311 Current Liabilities 20,267 27,352 7,085 Cash & Deposits 2,608 3,581 973 Notes & AP 3,474 6,393 2,918 Notes & AR 10,384 12,840 2,456 Short-term Debts 13,558 16,136 2,578 Othe
Slide 7: Hedging of foreign exchange risk completed
Hedging of foreign exchange risk completed • Transaction currency mix shifted to promote natural hedge • Weak yen pushes up sales with limited effects on operating income – Announced at IR meeting on Feb.18, 2013 • Down 155mil.yen（US$）Up 86mil.yen（euro） – Announced at IR meeting on Aug.1, 2013 • Dow
Slide 8: Consolidated Earnings Forecast for FY2014
Consolidated Earnings Forecast for FY2014 （Million yen） FY2014 FY2013 Change % （Forecast） （Actual） S a l e s 68,200 63,893 6.7％ Operating Income 2,700 1,698 59.0％ % 4.0％ 2.7％ Ordinar y Income 2,100 1,107 89.6％ N e t I n c o m e 1,300 △2,008 － Net Income/share 56.01 △91.41 Ex. Rates US$/Yen 100.00 96
Slide 9: Operating Income Analysis FY2013→FY2014 Forecast
Operating Income Analysis FY2013→FY2014 Forecast Cost M&A Reduction （Million yen） 60 1,315 Ex. Rates △50 Productivity UP Operating 680 China Income Revenue Wages 2,700 Depreciation Others UP UP UP △98 550 △1,155 Operating △300 Income 1,698 FY2013 FY2014 Actual Forecast Copyright© 2014 SUMIDA CORPORA
Slide 10: Performance Review 4Q & Full-Year of FY2013
Sumida Corporation Performance Review < 4Q & Full-Year of FY 2013 > Chief Executive Officer Shigeyuki Yawata February 13, 2014
Slide 11: Consolidated P/L for full-year of FY2013
Consolidated P/L for full-year of FY 2013 Sales were up 24.5% from a year earlier with automotive-related sales covering a shortfall caused by consumer electronics sales. However, net income fell Into the red due to reversal of deferred tax assets. （Million yen） FY 2012 FY 2013 Change Sales 51,300 6
Slide 12: Sales by Market Segment
Sales by Market Segment Automotive & Industry sales growing, but weak sales for consumer electronics Quarterly Sales by Market Segment (Million yen) • Automotive – Smart entry became widely used in U.S. – Use of smart entry for luxury cars steadily grew in developing countries • Consumer Electronics
Slide 13: Sales by Region
Sales by Region Total sales increased with the backing of yen’s depreciation in addition to sales growth on a local currency basis in the U.S. and China Quarterly Sales by Region (Million yen) • North America Ja p an As ia E urope North America 7 ,000 Sales increased thanks to; 6 ,000 – Smart entry
Slide 14: Market Analysis
Market Analysis Positive factors (growth in strategic markets) absorbed negative ones Automotive Consumer Industry Electronics Smart entry Orders for Steady growth for Positive factors sales increased smartphone and medical-related in the U.S. tablet PC business significantly rose due to release of
Slide 15: Measures executed in 2013
Measures executed in 2013 ☛ Strengthened sales force in the U.S. and China -Expansion of distributor network -Buildup of R&D backup system ↓ U.S. sales： up 64.1% vs. 2012 China sales： up 49.9% vs. 2012 ☛ Implemented business practices less susceptible to foreign currency exchange -Established sellin
Slide 16: Measures executed in 2013: cost savings
Measures executed in 2013 Approximately 1 billion yen expense cuts in preparation for 2014 Japan：４00 million yen Integration of R&D centers & Target for Relocation of Tokyo staff organization units Cost Savings TOTAL 1 billion yen China：４00 million yen Space optimization among hub and satellite plan
Slide 17: Measures executed in 2013: risk management
Measures executed in 2013 Strengthened risk management ☛Factory in Germany was submerged under 2 meters of water flooded from the Danube in June 2013. Damages were quickly recovered in a month. Since then, warehouses and a part of factory were moved to higher ground and building a floodwall is being
Slide 18: Action plans to be executed in 2014
Action plans to be executed in 2014 ☛ To expand automotive-related business To make sure to harvest fruits borne out of the seeds planted in the past -To launch new products of reactors, transformers and inductors to meet the needs for further computerization of automobiles including HV/EV -To devel
Slide 19: Action plans to be executed in 2014: plant expansion
Action plans to be executed in 2014 To expand China satellite plant and Mexico plant To upgrade Ji’an satellite plant to a hub plant status through To expand production significant expansion and to capacity to accommodate streamline automotive-related increasing demand for Germany production lines a
Slide 20: Positioning of 2012-2014 as the stage I of the Master Plan
Positioning of 2012-2014 as the stage I of the Master Plan Stage l was positioned as a preparation period going to the Stage II to build a foundation for new Sumida that had traditionally grown with consumer electronics business and has recently expanded its business into the automotive and the indu
Slide 21: Dividend Policy for 2014
Dividend Policy for 2014 With basic dividend ratio of 25-30%, dividend payout is decided depending on performance Dividend payout Stable dividend Balance reflecting performance payout 1. Dividend policy for 2014 Consolidated net income target × Basic payout ratio (25%-30%) ⇒ Annual basic dividend pa
Slide 22: Disclaimer Regarding Forward Looking Statements
Disclaimer Regarding Forward Looking Statements Sumida Corporation (referred to as "Sumida") makes this document available for informational purposes only. This document contains certain “forward-looking statements” which reflect management’s current views and the assumptions made with respect to sp