Citizen Watch Co, Ltd. · TSE:7762
Citizen Watch — H1 FY2004 Earnings Presentation
25 slides from Citizen Watch's earnings presentation, Nov 17, 2004
Slide 1: Fiscal 2004 interim results
2004 2004 11 17 1 2004 2004/11/17 1. 2004 2. 2004 2Q 3. 2004 4. 2 2004 2004/11/17
Slide 2: First half results summary
FY03 FY04 1,808 1,836 +27 +1.5% 162 9.0% 203 11.1% +41 +25.3% 160 8.9% 229 12.5% +68 +42.8% 83 4.6% 115 6.3% +31 +38.0% USD 119 109 +10 EURO 133 133 0 USD 6 4 EURO 1.3 0.5 3 2004 2004/11/17 FY03 1,547 1,791 1,808 1,948 1,836 -3 +35 +13 -17 FY02 FY02 FY03 FY03 FY04 81 115 162 192 203 +0 +10 +41 -4 FY
Slide 3: Full-year forecast summary
FY03 FY04 3,757 3,710 -47 -1.3% 355 9.5% 410 11.1% +54 +15.5% 353 9.4% 430 11.6% +76 +21.5% 194 5.2% 215 5.8% +20 +10.5% USD 114 107 -7 EURO 132 131 -1 USD 6 4 EURO 1.3 0.5 5 2004 2004/11/17 03 3,783 3,275 3,339 3,757 3,710 -14 +69 -72 -29 00 01 02 03 04 255 72 196 355 410 -4 +20 +42 +4 00 01 02 03
Slide 4: Sales breakdown by segment
2004 3,710 4% 3% 2003 3% 3,757 1% 0% 8% 32% 4% 3% 3% 0% 10% 6% 1% 9% 34% 32% 7% 10% 7% 7% 34% 6% 47% 6% 49% 1% 2% 1% 3% 3% 2% 7% 8% 23% 24% 7 2004 2004/11/17 CBM 2004/10 2005/4 2004/4 2002/7 2005/4 8 2004 2004/11/17
Slide 5: Second quarter results
1. 2004 2. 2004 2Q 3. 2004 4. 9 2004 2004/11/17 2Q 2Q03 2Q04 969 925 -43 -4.5% 105 10.9% 94 10.2% -11 -10.6% 96 9.9% 108 11.8% +12 +13.0% 49 5.1% 55 6.0% +6 +12.3% USD 119 109 -10 EURO 135 133 -3 USD 6 4 EURO 1.3 0.5 10 2004 2004/11/17
Slide 6: Quarterly sales and operating income trend
839 969 1,048 899 911 925 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 56 105 135 57 109 94 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 11 2004 2004/11/17 04 2Q 400 280 327 369 293 280 310 300 -17 200 100 Q&Q 0 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 80 29 62 71 21 42 44 24% 60 18% -18 19.2% 19.5% 40 15.1% 14.4% 12% 119 109 20 10.4% 6% 7
Slide 7: Segment quarterly results
04 2Q 600 404 468 509 433 463 422 -45 -33 400 200 -12 0 1Q03 2Q03 3Q03 4Q03 1Q03 2Q04 80 34 50 66 45 71 55 20% +5 60 15% 15.4% 40 13.0% 13.1% 10% 10.7% 10.5% 20 8.6% 5% 0 0% 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 13 2004 2004/11/17 04 2Q 57 78 62 80 78 93 100 75 +14 50 25 0 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 16 4
Slide 8: Segment quarterly results
04 2Q 120 96 94 105 92 88 99 80 +4 +5 40 0 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 10 10% 4 0 8 1 3 0 8 8% +0 6 7.7% 6% 4 4% 4.8% 0.3% 1.2% 4.1% 0.7% 2 2% 0 0% 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 15 2004 2004/11/17 2004 3 31 +59 +56 +103 -44 +22 +96 +103 16 2004 2004/11/17
Slide 9: Second half forecast
1. 2004 2. 2004 2Q 3. 2004 4. 17 2004 2004/11/17 FY03 FY04 1,948 1,873 -75 -3.9% 192 9.9% 206 11.0% +13 +7.2% 193 9.9% 200 10.7% +7 +3.9% 110 5.7% 99 5.3% -11 -10.5% USD 109 105 -4 EURO 131 130 -1 USD 6 4 EURO 1.3 0.5 18 2004 2004/11/17
Slide 10: Segment forecast: EcoDrive
04 800 608 663 590 651 600 -12 400 109 105 200 0 FY03 FY03 FY04 FY04 120 91 93 87 102 20% 90 15% +8 15.1% 15.8% 14.1% 14.7% 60 10% EcoDrive 30 5% 0 0% FY03 FY03 FY04 FY04 19 2004 2004/11/17 04 1000 873 943 886 857 800 -85 600 -37 400 -47 200 0 FY03 FY03 FY04 FY04 160 84 112 126 113 20% +1 120 15% 14
Slide 11: Segment forecast: OA, DVD/HD
04 200 136 143 171 177 150 +34 100 OA DVD/ 50 HD 0 FY03 FY03 FY04 FY04 30 13 16 24 25 20% 14.0% 14.6% +9 15 10% 11.4% 10.0% 0 0% FY03 FY03 FY04 FY04 21 2004 2004/11/17 04 240 191 198 187 187 180 120 -11 60 0 FY03 FY03 FY04 FY04 10 4 9 4 5 10% 8 8% 6 6% 4 4% -3 4.7% 2 3.0% 2% 2.6% 2.3% 0 0% FY03 FY03
Slide 12: Capital expenditure and R&D trend
300 274 200 201 172 190 100 133 102 0 FY00 FY01 FY02 FY03 FY04 300 200 230 220 182 166 175 100 78 0 FY00 FY01 FY02 FY03 FY04 23 2004 2004/11/17 120 4% 113 106 90 3.2% 100 3% 94 3.0% 84 2.7% 2.5% 2.5% 60 2% 50 30 1% 0 0% FY00 FY01 FY02 FY03 FY04 24 2004 2004/11/17
Slide 13: Balance sheet trend
25,000 21,949 19,220 18,703 19,864 20,440 20,000 11,978 15,000 10,973 12,029 12,534 10,909 10,000 5,000 9,971 8,247 7,794 7,835 7,906 0 2001/03 2002/03 2003/03 2004/03 2004/09 25 2004 2004/11/17 1. 2004 2. 2004 2Q 3. 2004 4. 26 2004 2004/11/17
Slide 14: 2004 2004/11/17
27 2004 2004/11/17 28 2004 2004/11/17
Slide 15: Company history
1960 1970 1980 29 2004 2004/11/17 30 2004 2004/11/17
Slide 16: CTZ
4,063 /2004 989 1,620 1,199 830 271 309 114 CTZ 129 31 2004 2004/11/17 32 2004 2004/11/17
Slide 17: 2004 2004/11/17 %
33 2004 2004/11/17 % 34 2004 2004/11/17
Slide 18: 2004 2004/11/17
35 2004 2004/11/17 36 2004 2004/11/17
Slide 19: Supply Chain Management
CTZ SCM 37 2004 2004/11/17 Supply Chain Management 38 2004 2004/11/17
Slide 20: MMI
MMI 39 2004 2004/11/17 A B 40 2004 2004/11/17
Slide 21: Key1 SCM Key2
41 2004 2004/11/17 Key1 SCM Key2 42 2004 2004/11/17
Slide 22: CNC
CNC 43 2004 2004/11/17 44 2004 2004/11/17
Slide 23: Citizen
CITIZEN CITIZEN Sine | Ee BSHID. PLWHA. Cincarn SLL 2 Ns 45 2004 2004/11/17
Slide 24: Slide 24
Slide 25: Slide 25