Ushio Inc. · TSE:6925

Ushio — FY2022 Earnings Presentation

36 slides from Ushio's earnings presentation, May 11, 2023

Slide 1: FY2022 Financial Results
FY2022 Financial Results Ushio Inc. May 11, 2023 This report contains forward-looking statements, including earnings forecasts, which are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Please be advised that actual results may differ subst
Slide 2: FY2022 Overview
FY2022 Overview 1. FY2022 revenues and earnings increased 2. Projecting higher revenues and lower earnings in FY2023 3. Reportable segments changed as of FY2023 Copyright © 2023 Ushio Inc. All rights reserved 2
Slide 4: Financial Results Summary for FY2022
Financial Results Summary for FY2022 +26.2 billion yen YoY (+17.6%） Net Sales - Sales increased stemming from forex impact 175.0 billion yen - Optical Equipment: Sales increased due to demand increase in UV equipment - Imaging Equipment: Sales increased owing to recovery trend from COVID-19 in gener
Slide 5: Summary of Financial Results
Summary of Financial Results FY2021 FY2022 YoY comparison （Billions of yen) Result Result Changes ％ Net Sales 148.8 175.0 +26.2 +17.6％ Operating Profit 13.0 15.8 +2.7 +21.4％ Operating Margin 8.8% 9.1% +0.3P ‐ Ordinary Profit 15.1 20.1 +4.9 +32.6％ Profit Attributable to Owner of Parent 12.6 13.6 +1.0
Slide 6: YoY Variation Analysis of Operating Income
YoY Variation Analysis of Operating Income (billions of yen) ＋0.7 -1.0 ＋3.7 -1.5 ＋2.3 -1.4 Imaging Equipment Fixed cost increase 15.8 (Mainly costs of human Others 13.0 (mainly impact of resource and R&D sales increase) increase) including Light Source Optical SG&A FOREX Business Equipment (mainly i
Slide 7: Financial Results by Business Segments
Financial Results by Business Segments Net Sales Operating Profit YoY comparison YoY comparison 148.8 175.0 +26.2 13.0 15.8 +2.7 billion yen billion yen billion yen billion yen billion yen billion yen (billions of yen) (billions of yen) 200 18.0 Others Others +0.6 billion yen 16.0 0.1 +0.0 billion y
Slide 8: Business Environment
Business Environment Impact of shortage of materials for semiconductors continues in some businesses, Common but is easing Rising material costs, energy prices, and logistics costs continue to affect some businesses Signs of near-term adjustment in semiconductor industry amid growth over medium thro
Slide 9: Light Source Business
Light Source Business Discharge lamps Net Sales YoY comparison ・UV lamps (-0.7 billion yen, -6%) FY2021 FY2022 Sales for LCD panel dropped YoY comparison ・Cinema lamps (+1.7 billion yen, +24%) Result Result Sales increased as cinemas reopened and operations recovering from pandemic’s impact （Billion
Slide 10: Equipment Business
Equipment Business Optical equipment FY2021 FY2022 Optical equipment sales YoY comparison Result Result ・UV equipment (+9.6 billion yen, +33%) （Billions of yen） Sales increased for large field stepper for cutting-edge IC Package substrates and Direct Imaging lithography equipment Net Sales 48.3 57.7
Slide 11: Latest Status of Promising Products: Optical Equipment
Latest Status of Promising Products: Optical Equipment Product Latest Status Sales Forecast • Continued growth in the IC package market has led to firm orders and inquiries, but there is a tendency to postpone investment at present Large Field Stepper for • For further demand increase, production ca
Slide 12: Summary of Financial Results for FY2022
Summary of Financial Results for FY2022 While lower than initially targeted owing to deteriorating semiconductor market conditions and materials shortages, results surpassed previously announced forecast revision because of minimal impact of light source production adjustments in Q4 Previous Revisio
Slide 13: Financial Results by Sub-Segment for 2022
Financial Results by Sub-Segment for 2022 Previous Revision Initial Plan FY2022 February 3, 2022 May 11, 2022 Result Full Year Achievement Full Year Achievement Changes Changes (Billions of yen) Forecast rate (%) Forecast rate (%) Net Sales 61.8 59.0 +2.8 104.8％ 63.0 -1.1 98.1％ Light source Operatin
Slide 15: Summary of FY2023 Financial Forecast
Summary of FY2023 Financial Forecast Sales should increase due to the easing trend in the visual imaging-related materials problem, but business conditions remained uncertain, especially in the semiconductor market. Expand strategic investments to achieve the 2nd Medium-Term Management Plan and futu
Slide 16: Reporting Segment Changes
Reporting Segment Changes Changed reporting segments from 2 nd Medium-Term Management Plan (FY2023～2025) to market-centered segments Old business segments Subsegments New business segments Ref: Relevance to former business segments Reporting segments Subsegments Reporting • OA segments Halogen ●Halo
Slide 17: FY2023 Financial Forecasts by Sub-segment
FY2023 Financial Forecasts by Sub-segment IP: Decrease due to continued uncertainty in the semiconductor market and increased investment in development VI: Increase in sales and income due to easing of material issues Net Sales Operating Profit FY2022 FY2023 FY2022 FY2023 Result YoY Comparison Resul
Slide 18: FY2023 Segment Forecasts
FY2023 Segment Forecasts Business climate assumptions Outlooks Business climate to remain generally uncertain, with • Slightly higher sales of projection and Direct Imaging moderate semiconductor market recovery from H2 lithography equipment owing to some investment plan • Semiconductor market capac
Slide 19: YoY Variation Analysis of EBITDA
YoY Variation Analysis of EBITDA ＋2.5 ＋0.3 -2.6 ＋4.4 PHS -3.3 sales LS change Strategic 23.6 -1.1 sales impacts investments -2.7 change （R&D) impacts Strategic -0.1 21.0 IP VI investments sales change sales change (Human impacts impacts resources) Other Impact of strategic xenon gas investme surge n
Slide 20: Shareholder Returns
Shareholder Returns 50 yen for FY2022 (plan) 【Dividend policy 】Generating stable returns 50 yen for FY2023 (continuation) Cash dividends (yen) 47.2 56.3 47.8 55.2 43.2 Dividends Dividend payout ratio (%) 35.5 31.6 30.2 27.8 30.3 50 50 50 50 per Share 26 24 26 26 24 26 26 FY2013 FY2014 FY2015 FY2016
Slide 22: EUV Light Source for Mask Inspection
EUV Light Source for Mask Inspection Mask Inspection equipment EUV light source for next- Sales of light manufacturer/ Semiconductor device generation semiconductor source Research & development manufacturers mass-production process Maintenance institution Development, Production, Sales Increase EUV
Slide 23: Sales Expansion of Exposure Equipment for Cutting-edge IC Package Substrates
Sales Expansion of Exposure Equipment for Cutting-edge IC Package Substrates Cutting-edge & Next generation package demand expansion With IoT evolution, demand increased for servers for data centers processing high capacity and high speed data processing Large Field Stepper（UX-5） Equipment Package s
Slide 24: Direct Imaging (DI) Lithography Equipment
Direct Imaging (DI) Lithography Equipment Print-wired board demand increasing As 5G progressed as application innovation Innovation of each application and demand increasing Data Center Direct Imaging Print-wired board Base Station Lithograph Equipment Sales Equipment Package substrate Board Mountin
Slide 25: Care222 as Disinfection and Virus Inactivation Solution
Care222 as Disinfection and Virus Inactivation Solution Care222Ⓡ: Disinfection and Illumination equipment Occupied space Space/surface Space infrastructure Virus Inactivation Solution Module Others (Robots etc.) Disinfection and Manufacturers virus inactivation Our Goal：Safe and reassured environmen
Slide 26: Reference: Summary of Quarterly Financial Results
Reference: Summary of Quarterly Financial Results FY2021 FY2022 YoY comparison (Billions of yen) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Changes ％ Net Sales 34.9 36.6 38.1 39.1 39.7 48.2 40.4 46.6 +7.5 +19.3％ Operating Profit 2.5 3.9 4.2 2.2 4.4 5.6 3.4 2.3 -0.0 (3.2)％ Operating Margin 7.4% 10.9% 11.1% 5.8% 11.3% 1
Slide 27: Reference: Quarterly Financial Results by Business Segments
Reference: Summary of Quarterly Financial Results by Business Segments FY2021 FY2022 YoY comparison (Billions of yen) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Net Sales 13.6 14.3 15.2 14.5 16.0 16.4 15.0 14.2 -0.3 (2.3)％ Light Source Operating Profit 1.9 2.5 2.4 1.2 3.1 2.0 2.1 1.7 +0.4 +37.5％ Operating Margin 14.3%
Slide 28: Reference: Sales Ratio by Region
Reference: Sales Ratio by Region Others 0.4% FY2021 Japan North America Asia Europe Net Sales 148.8 26.8% 19.9% 45.3% 7.6% billion yen FY2022 Japan North America Asia Europe Net Sales 175.0 21.7% 25.9% 44.7% 6.9% billion yen Others 0.8% Copyright © 2023 Ushio Inc. All rights reserved 28
Slide 29: Reference: R&D Expenses/Capital Expenditures and Depreciation
Reference: R&D Expenses/Capital Expenditures and Depreciation R&D Expenses（Billions of yen） Capital Expenditures (Billions of yen) Ratio of R&D Expenses to net sales (%) Depreciation (Billions of yen) 8.5 11.0 7.1 7.4 6.4 7.1 8.9 6.1 14.0 8.5 8.2 7.9 11.4 7.1 7.3 6.9 7.6 10.1 10.5 6.7 6.9 10.1 10.0
Slide 30: Reference: Balance Sheet
Reference: Balance Sheet Asset Liabilities/Total Net Equity Changes (Billion of yen) Changes (Billion of yen) 321.0 323.6 +2.5 321.0 323.6 +2.5 +5.0 Notes and AP -24.4 Cash and Bank Deposits 21.1 26.2 64.2 -15.0 Other Current Liabilities 88.6 51.2 36.2 +3.1 Marketable Securities +3.6 Long-term Liabi
Slide 31: Reference: Cash Flow
Reference: Cash Flow (Billions of yen) 21.6 20 15.8 14.5 13 16.1 11.5 11 8.5 8.8 6.6 5.5 4.3 2.7 -0.3 1.1 0.7 0.8 -1.1 FY2018 FY2019 FY2020 -0.7 FY2021 FY2022 -5 -3.9 -3.4 -5.5 -10.6 -20.3 -26.8 -30 Operating Profit Sales CF Investment CF Finacial CF Free CF Copyright © 2023 Ushio Inc. All rights re
Slide 32: Renewed IR Website/ IR Mail Distribution Feature
Renewed IR Website/ IR Mail Distribution Feature  Our official website "Investor Relations Information" has been renewed. We have reorganized the contents to make it more accessible and to let you know about Ushio's present to future.  We added new feature “IR E-mail distribution” to send our IR i
Slide 33: Glossary
Glossary AI Artificial Intelligence APMI Actinic Patterned Mask Defect Inspection BGA Ball Grid Array CoO Cost of Ownership CPU Central Processing Unite DCP Digital Cinema Projector DI Direct Imaging EUV Extreme Ultraviolet Radiation FPD Flat Panel Display GPU Graphic Processing Unit IoT Internet of
Slide 34: (Old) Business Segments and Main Products
(Old) Business Segments and Main Products Business segments Main products Product examples Discharge lamps Halogen lamps Light Source Solid state light sources Solid-state UV lamps Cinema Data projector OA lamps Care222 related light sources lamps lamps products （LD/LED） Large field steppers Direct
Slide 35: (New) Business Segments and Main Products
(New) Business Segments and Main Products New Business Main Products Product Examples Segment Light Source: UV lamps, OA lamps, Optical equipment lamps, etc. Industrial Equipment: Processes UV Equipment, Curing （提供：TNO） equipment, EUV light source for mast inspection, Maintenance UV lamps OA lamps L
Slide 36: Contact: Investor Relations Section
Contact: Investor Relations Section Corporate Communication Department Ushio Inc. Email: ir@ushio.co.jp https://www.ushio.co.jp/en/ Copyright © 2023 Ushio Inc. All rights reserved 36

Ushio — FY2022 Earnings Presentation on 6ix

Ushio — FY2022 Earnings Presentation

Slide 1: FY2022 Financial Results

Slide 2: FY2022 Overview

Slide 3: Agenda

Slide 4: Financial Results Summary for FY2022

Slide 5: Summary of Financial Results

Slide 6: YoY Variation Analysis of Operating Income

Slide 7: Financial Results by Business Segments

Slide 8: Business Environment

Slide 9: Light Source Business

Slide 10: Equipment Business

Slide 11: Latest Status of Promising Products: Optical Equipment

Slide 12: Summary of Financial Results for FY2022

Slide 13: Financial Results by Sub-Segment for 2022

Slide 14: II. Full-year Forecast for FY2023

Slide 15: Summary of FY2023 Financial Forecast

Slide 16: Reporting Segment Changes

Slide 17: FY2023 Financial Forecasts by Sub-segment

Slide 18: FY2023 Segment Forecasts

Slide 19: YoY Variation Analysis of EBITDA

Slide 20: Shareholder Returns

Slide 21: III. Supplementary Information

Slide 22: EUV Light Source for Mask Inspection

Slide 23: Sales Expansion of Exposure Equipment for Cutting-edge IC Package Substrates

Slide 24: Direct Imaging (DI) Lithography Equipment

Slide 25: Care222 as Disinfection and Virus Inactivation Solution

Slide 26: Reference: Summary of Quarterly Financial Results

Slide 27: Reference: Quarterly Financial Results by Business Segments

Slide 28: Reference: Sales Ratio by Region

Slide 29: Reference: R&D Expenses/Capital Expenditures and Depreciation

Slide 30: Reference: Balance Sheet

Slide 31: Reference: Cash Flow

Slide 32: Renewed IR Website/ IR Mail Distribution Feature

Slide 33: Glossary

Slide 34: (Old) Business Segments and Main Products

Slide 35: (New) Business Segments and Main Products

Slide 36: Contact: Investor Relations Section