Slide 1: FY2021 Financial Results
FY2021 Financial Results February 9, 2022 Tamron Co., Ltd. (Code: 7740) Tamron Co., Ltd.
Slide 2: Contents
Contents Ⅰ. Summary and Progress of the Vision23 Ⅲ. FY2022 Financial Forecast Mid-Term Management Plan 1. FY2022 Financial Forecast 1. FY2021 Summary 2. FY2022 Forecast by Segment 2. Progress of the Vision23 Mid-Term (1) Photographic Products Management Plan (2) Surveillance & FA Lenses (1) Consolid
Slide 3: Summary and Progress on the Vision23 Mid-Term Management Plan
Ⅰ． Summary and Progress on the Vision23 Mid-Term Management Plan Copyright © Tamron Co., Ltd. All rights reserved. 3
Slide 4: FY2021 Summary
Ⅰ-１. FY2021 Summary 【Business Environment】 Economic environment： Despite an uptick in economic activity, there were resurgences of COVID-19 around the world and the effects of semiconductor shortages became serious in the second half of the year. Market environment： The markets for interchangeab
Slide 5: Progress of the Vision23 Mid-Term Management Plan (1) Consolidated Results
Ⅰ-２. Progress of the Vision23 Mid-Term Management Plan (1) Consolidated Results Vision23 Mid-Term Management Plan First year progress Second year plan *From FY2022, the new accounting standards (Announced February 2021) for revenue recognition will be applied. → Impact on net sales: approx. - 1 bill
Slide 6: Progress of the Vision23 Mid-Term Management Plan (2) Trends by Business
Ⅰ-２. Progress of the Vision23 Mid-Term Management Plan (2) Trends by Business Vision23 Mid-Term Management Plan ◆Compared with 2020 levels, net sales rose approx. 1.9 times in Surveillance & FA Lenses, and approx. 1.3 times in Mobility & Healthcare, Others → combined, these segments accounted for ar
Slide 7: FY2021 Financial Results
Ⅱ．FY2021 Financial Results Copyright © Tamron Co., Ltd. All rights reserved. 7
Slide 8: 2021 Full-Year Financial Results
Ⅱ-１. 2021 Full-Year Financial Results Despite positive exchange rate effects, net sale and profit rose considerably even excluding exchange rate effects (Impact of exchange rates - on net sales: +1.77 billion JPY; on operating income: 550 million JPY) Planned results were achieved, despite incre
Slide 9: Factors Behind Variance in Operating Income
Ⅱ-２. Factors Behind Variance in Operating Income (millions of JPY) 7,408 1,133 2,810 3,575 △880 550 220 Increase decrease of FX rate Increase gross profit Actual 20年 Actual 販管費増 のれん償却費減 為替影響 売上増に 粗利率改善など margin , etc 21年 of Amortization Impact of FY21 FY20 実績 Expense （のれん除く） of goodwill Sales よる粗利増
Slide 10: 2021 Full-Year Results by Segment: Photographic Products
Ⅱ-３. 2021 Full-Year Financial Results by Segment (1) Photographic Products （millions of JPY） Revised Actual Actual Inc /Dec Inc /Dec Forecast FX Impact FY20 FY21 Vs.FY20 FY21（21/11/4） (a) (c) (c)-(a) % (c)-(b) % (b) Net Sales 33,569 40,900 41,999 8,429 25.1% 1,370 1,099 2.7% Operating 5,320 7,800 8,
Slide 11: 2021 Full-Year Results by Segment: Surveillance & FA Lenses
Ⅱ-３. 2021 Full-Year Financial Results by Segment (2) Surveillance & FA Lenses （millions of JPY） Revised Actual Actual Inc /Dec Inc /Dec Forecast FX Impact FY20 FY21 Vs.FY20 FY21（21/11/4） (a) (c) (b) (c)-(a) % (c)-(b) % Net Sales 9,069 10,000 9,360 291 3.2% 390 (639) (6.4)% Operating 577 550 478 (99)
Slide 12: 2021 Full-Year Results by Segment: Mobility & Healthcare, Others
Ⅱ-３. 2021 Full-Year Financial Results by Segment (3) Mobility & Healthcare, Others （millions of JPY） Revised Actual Actual Inc /Dec Inc /Dec Forecast FX Impact FY20 FY21 Vs.FY20 FY21（21/11/4） (a) (c) (b) (c)-(a) % (c)-(b) % Net Sales 5,735 6,100 6,178 443 7.7% 10 78 1.3% Operating 359 750 812 452 12
Slide 13: FY2022 Forecast
Ⅲ．FY2022 Forecast Copyright © Tamron Co., Ltd. All rights reserved. 13
Slide 14: FY2022 Financial Forecast
Ⅲ-１. FY2022 Financial Forecast 【Business Environment】 Economic environment: A gradual recovery is expected, but effects from the semiconductor shortage will continue. Market environment :-Markets for interchangeable lens cameras and interchangeable lenses are expected to remain flat in volume te
Slide 15: FY2022 Forecast by Segment: Photographic Products
Ⅲ-２. FY2022 Financial Forecast by Segment (1) Photographic Products （millions of JPY） Actual Forecast Inc/Dec FY21（※） FY22 (a) (b) (b)-(a) % Net Sales 41,257 41,500 242 0.6% Operating Income 8,530 8,500 (30) (0.4)% (% Sales) 20.7％ 20.5％ (0.2)% － A slight increase in sales is expected due to the ab
Slide 16: Photographic Products - New Models
Photographic Products - New Models Category Launched in 2019 Launched in 2020 Launched in 2021 Launched Launched Launched Fixed in Dec. in Dec. in Jan. Focal 24mm F/2.8 35mm F/2.8 20mm F/2.8 OSD M1:2（F050） OSD M1:2 (F051) OSD M1:2 (F053) Wide- Launched Launched angle in Jul. in Jun. Zoom 17-28mm F/2
Slide 17: FY2022 Forecast by Segment: Surveillance & FA Lenses
Ⅲ-２. FY2022 Financial Forecast by Segment (2) Surveillance & FA Lenses （millions of JPY） Actual Forecast Inc/Dec FY21（※） FY22 (a) (b) (b)-(a) % Net Sales 9,326 12,500 3,173 34.0% Operating Income 477 900 422 88.7% (% Sales) 5.1％ 7.2% 2.1% － Net sales for the Chinese market will roughly double and
Slide 18: FY2022 Forecast by Segment: Mobility & Healthcare, Others
Ⅲ-２. FY2022 Financial Forecast by Segment (3) Mobility & Healthcare, Others （millions of JPY） Actual Forecast Inc/Dec FY21（※） FY22 (a) (b) (b)-(a) % Net Sales 5,940 7,000 1,059 17.8% Operating Income 813 900 86 10.6% (% Sales) 13.7％ 12.9% (0.8)% － Double-digit growth in sales for automotive lenses
Slide 19: ESG and Sustainability Initiatives (1) Value Creation Process
Ⅲ-３. ESG and Sustainability Initiatives (1) Value Creation Process Copyright © Tamron Co., Ltd. All rights reserved. 19
Slide 20: ESG and Sustainability Initiatives (2) Improved Governance
Ⅲ-３. ESG and Sustainability Initiatives (2) Improved Governance Improvements will be made in light of dialogue with shareholders and investors, the purpose of the revised corporate governance code. → Selection and Application for Prime Market as the New Market Segment Main Items Details - Increasing
Slide 21: ESG and Sustainability Initiatives (3) Environmental Vision
Ⅲ-３. ESG and Sustainability Initiatives (3) Environmental Vision Copyright © Tamron Co., Ltd. All rights reserved. 21
Slide 22: Reference Data
Ⅳ．Reference Data Copyright © Tamron Co., Ltd. All rights reserved. 22
Slide 23: Financial Summary
Ⅳ-１. Financial Summary （millions of JPY） Dec 31, Dec 31, Change Inventories 2020 2021 (b)-(a) Inventories Turnover （Month） (a) (b) 15,000 2.3 2.5 Cash & Deposits 21,417 25,797 4,380 1.9 12,000 2.0 1.6 Notes & Accounts 9,000 1.5 Receivable 10,318 10,505 186 6,000 1.0 11,233 9,388 Inventories 8,604 11
Slide 24: Capital Investment, Depreciation, & Research & Development Expenses
Ⅳ-２. Capital Investment, Depreciation, &Research & Development Expenses Capital Investment & Depreciation Research & Development Expenses （ millions of JPY ） (Ratio of R&D Expenses （ millions of JPY ） Capital Investment /Net Sales) 6,000 Depreciation 6,000 12% 9.7% 5,000 5,000 10% 8.7% 8.9% 8.3% 4,0
Slide 25: Cash Flow Situation
Ⅳ-３. Cash Flow Situation （ millions of JPY ） Operating CF FY20 FY21 Investing CF 8,660 10,000 7,554 Free CF 4,879 5,000 Financing CF 0 (2,112) (1,250) (5,000) (3,780) (4,780) (10,000) (15,000) (12,334) FY20 FY21 Cash Flow from Operating Activities 7,554 8,660 Cash Flow from Investing Activities (12,
Slide 26: Cash Dividends Outlook & Key Performance Indicators
Ⅳ-４. Cash Dividends Outlook ＆ Key Performance Indicators （JPY） Cash Dividends （JPY） Key Performance Indicators Year-End Dividend EPS 12.0% ROE 100 Interm Dividend 56.3% 60% 300 11.0% 12% Dividend Payout Ratio ROA 10.9% 250 9.1% 80 10.5% 10.1% 9% 9.7% 35.8% 40% 200 33.0% 32.8% 8.6% 60 32.8% 5.9% 150
Slide 27: Impact of Foreign Exchange Rate Fluctuations
Ⅳ-５. Impact of Foreign Exchange Rate Fluctuations FY2021 （JPY） （million of JPY） Exchange Rate Impact Actual Actual Operating Net Sales FY20 FY21 Income 米ドル 106.77 109.91 750 (30) ユーロ 121.92 129.95 510 430 他通貨 - - 510 150 合 計 - - 1,770 550 （Impact on FY2020 Actual performance） Forecast FY2022 Exchang
Slide 28: Disclaimer
Disclaimer 1. The purpose of this material is to provide information on the actual results for FY2021 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 company’s presentation are b