Smk Corporation · TSE:6798
Smk — H1 FY2018 Earnings Presentation
23 slides from Smk's earnings presentation, Nov 7, 2018
Slide 1: Business Report for FY2018 1st Half
1/23 Business Report for FY2018 1st Half November 7th 2018
Slide 2: FY2018 2Q Outline of Financial Statement
2/23 FY2018 2Q Outline of Financial Statement Executive Vice President and CFO KOHEI OHGAKI
Slide 3: Consolidated 2Q Financial Results
3/23 <Consolidated> 2Q Financial Results Unit: Million yen FY2017 FY2018 Net Sales 4-9 4-9 Profit 40,000 4.4% DOWN 4,000 29,393 28,101 30,000 3,000 245.2% DOWN 20,000 2,000 1,095 900 10,000 598 1,000 278 122 0 0 -10,000 -1,000 -869 -20,000 -2,000 Net Sales Operating Profit Ordinary Profit Net Profit
Slide 4: Consolidated Operating Expenses
4/23 <Consolidated> Operating Expenses Unit: Million yen FY2017 FY2018 4-9 4-9 28,795 28,970 [ ]: Sales Ratio 30,000 [98.0%] [103.1%] Material costs Amount paid to subconstractors 25,000 Labor costs 12,475 13,490 42.4% Expenses 20,000 48.0% Depreciations 3.3% 15,000 969 837 3.0% Raise by 5.3% in r
Slide 5: Consolidated Analysis of Changes in Operating Profit
5/23 <Consolidated> Analysis of Changes in Operating Profit Analysis of factors for increase/ decrease Unit: Million yen of consolidated operating profit ［ FY2017 4-9 vs FY2018 4-9 ］ Total After adjusting impact of -1,467 million yen 900 foreign exchange rates 600 Impact of foreign Increase in excha
Slide 6: Consolidated Non-operating Profit and Loss
6/23 <Consolidated> Non-operating Profit and Loss Unit: Million yen FY2017 FY2018 4-9 4-9 497 1,147 [ ]: Sales Ratio 1,200 [1.7%] [4.1%] Currency exchange profit/loss Revenues from and expenditure 1,000 to fixed assets 759 800 Financial account balance 600 Others 72 Currency exchange profit increase
Slide 7: Consolidated Extraordinary Profit and Loss
7/23 <Consolidated> Extraordinary Profit and Loss FY2017 FY2018 Unit: Million yen 300 4-9 4-9 -421 142 [ ]: Sales Ratio 150 Gain on redemption of 195 investment securities 46 Gain on sales of 0 41 16 investment securites -58 -69 -1 Gain on sales of fixed assets -150 -178 Loss on impairment -300 Loss
Slide 8: Consolidated Segment Information
8/23 <Consolidated> Segment Information Unit: Million yen FY2018 4-9 Reporting Segment Others* TOTAL CS Div. FC Div. TP Div. Total Net Sales 11,436 11,832 4,635 27,903 197 28,101 Operating Profit (Loss) 51 (508) (325) (782) (87) (869) FY2017 4-9 Reporting Segment Others* TOTAL CS Div. FC Div. TP Div
Slide 9: Consolidated Revised Financial Result Forecast
9/23 <Consolidated> Revised Financial Result Forecast Upper row: Percentage to net sales Lower row: Increase (decrease) ratio to FY2017 Forecast of consolidated operating results for FY 2018 (Full-year) Disclosed on Net Sales Operating Profit Ordinary Profit Net Profit Million yen % Million yen % Mi
Slide 10: Consolidated Changes in Financial Results (Full-year)
10/23 <Consolidated> Changes in Financial Results (Full-year) Unit: Million yen FY2017 FY2018 Net Sales Forecast Profit 1.3% DOWN 70,000 7,000 59,786 59,000 60,000 6,000 50,000 5,000 40,000 4,000 30,000 223.6% DOWN 3,000 20,000 2,000 10,000 485 358 400 1,000 200 0 0 -10,000 -288 -1,000 -600 Net Sale
Slide 11: Consolidated Changes in Financial Results (Half Term)
11/23 <Consolidated> Changes in Financial Results (Half Term) Unit: Million yen Net Sales FY2017 FY2017 FY2018 FY2018 Profit 4-9 10-3 4-9 10-3 40,000 Forecast 4,000 29,393 30,393 30,899 30,000 28,101 3,000 20,000 2,000 900 10,000 1,000 598 269 122 78 0 0 1,095 -113 278 122 -10,000 -737 -1,000 -869 -
Slide 12: Consolidated Cash Position
12/23 <Consolidated> Cash Position Unit: Million yen Mar. 2018 Sep. 2018 Differential （Ａ） （Ｂ） （Ｂ－Ａ） Assets 61,474 61,566 91 Cash and cash equivalents 10,599 9,138 (1,460) Accounts receivable 15,251 15,304 53 Inventories 8,775 9,016 240 Fixed assets 25,465 27,083 1,617 Liabilities 30,837 31,116 279 A
Slide 13: Consolidated Cash Flow Position
13/23 <Consolidated> Cash Flow Position Unit: Million yen FY2017 4-9 FY2018 4-9 Cash flow from operating activities 1,959 66 Working capital (1,206) (1,689) Profit before taxes 674 420 Depreciation 2,085 1,791 Others 406 (456) Cash flow from investing activities (1,914) (2,335) Free cash flow 45 (2,
Slide 14: Annual Dividend
14/23 Annual Dividend At second At fiscal Annual quarter end year end FY2017 4.00 yen 4.00 yen 8.00 yen Result FY2018 0.00 yen ― ― Result FY2018 ― 50.00 yen ― Forecast ※ The forecast year-end dividends for FY2018 stated are the amount that takes the effects of the consolidation of shares dated Octob
Slide 15: FY2018 Prospect
15/23 FY2018 Prospect President, CEO and COO YASUMITSU IKEDA
Slide 16: Net Sales by Product Div. (FY2015-FY2018)
16/23 Net Sales by Product Div. (FY2015-FY2018) Unit: Million yen %: Compared to 99% previous term 77,206 94% 80,000 195 62,971 70,000 14,467 62,500 59,786 59,000 60,000 263 470 501 11,931 362 9,480 9,582 9,580 100% 50,000 35,449 40,000 21,420 27,238 27,349 127% 27,115 30,000 20,000 27,095 28,422 25
Slide 17: Operating Profit by Product Div. (FY2015-FY2018)
17/23 Operating Profit by Product Div. (FY2015-FY2018) Unit: Million yen Profitability (%)=Profit/Sales 5.4% 1.0% 0.8% 1.6% 5,000 4,171 630 485 1,000 -600 4,000 1,838 3,000 370 2,000 113 3,203 2,215 333 1,000 1,919 1,124 25 0 246 -786 -329 -434 -252 -1,360 -1,000 -128 -437 -616 -2,000 -832 -526 -3,0
Slide 18: Reference: Net Sales by Market (FY2015-FY2018)
18/23 Reference: Net Sales by Market (FY2015-FY2018) Unit: Million yen %: Compared to previous term 99% 80,000 77,206 7,119 70,000 62,971 59,786 59,000 60,000 21,178 8,077 7,249 62% 11,605 50,000 18,982 40,000 18,184 20,335 112% 30,000 32,207 24,086 120% 20,000 18,326 21,909 10,000 16,700 11,825 11,
Slide 19: FY2018 Priority Matters
19/23 FY2018 Priority Matters １. Improve Profitability in Short-term Improve unprofitable business and deficit-ridden company Launch the new large project successfully Improve productivity, Realize quality level for car electronics ２. Realize Mid- to Long-term Growth Explore new markets, cre
Slide 20: FY2018 2H Turnaround Plan
20/23 FY2018 2H Turnaround Plan 【Japan】 1. Reorganization of Headquarters. -Relocation of departments from Osaki Office to Headquarters. -Consolidation of R&D Center and Strategic Planning Dept. 2. Cutback in labor costs and in expenses. 3. Sale of assets. 【Japan and Overseas】 1. Follow-up for turna
Slide 21: Approach to LPWA Business
21/23 Approach to LPWA Business Sigfox LoRaWAN™ Environment: Agriculture: Social Facility/ Water level Temperature control Infrastructure Equipment monitoring, etc. in greenhouse, etc. 【SMK’s Sales Target】 【SMK’s Sales Target】 FY2018 target is taken as 100 FY2019 target is taken as 100 1,300 WF931 S
Slide 22: Advanced Development Technology Show 2018
22/23 Advanced Development Technology Show 2018 <Date> Oct. 17 (Wed.) to 19 (Fri.), 2018 <Venue> Hotel New Otani Makuhari 2F banquet room STELLA <Purpose> 1. Private show and invite only VIP customers. 2. Introduction of SMK’s unreleased new products, No. of guests No. of inquiries technologies, and
Slide 23: Notice
23/23 Notice All information in this material concerning the forecast of business achievements, projections of general business conditions and our business strategies is dependent on our conclusion made to a normally foreseeable extent applying information reasonably accessible to us at the time of