Hamamatsu Photonics K.k. · TSE:6965
Hamamatsu Photonics K.k — Q2 FY2023 Earnings Presentation
36 slides from Hamamatsu Photonics K.k's earnings presentation, May 2023
Slide 1: Second Quarter Report, Fiscal Year ended September 30, 2023
Fiscal Year ended September 30, 2023 Second Quarter Report Hamamatsu Photonics K.K. Tokyo Stock Exchange : 6965 May 2023 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 1
Slide 2: Summary of results / Earning forecast
1. Summary of results 2. Earning forecast 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 2
Slide 3: Summary of 1H FY2023 Financial results
Summary of 1H FY2023 Financial results 1H FY2023 Financial results Sales: 111.6 billion yen, Operating profit: 31.5 billion yen. Record High Half-year results. Gross margin: 55.7%, Operating margin: 28.2%. Maintained high profitability. Business environment We maintained sales and profit growt
Slide 4: 1H FY2023 Financial results
1H FY2023 Financial results Sales and profit increased YoY due to steady demand in various Outline applications. Boosted profit margin due to weaker yen. (Unit : 100 million yen) *Numbers are rounded down to the nearest 100 million yen. FY2022 FY2023 Exchange rate (Actual) (Actual) 1H FY2022 1H
Slide 5: Analysis fluctuation to operating profit 1H FY2022-2023
Analysis fluctuation to operating profit 1H FY2022-2023 ＄:114.98→136.97 €:130.21→143.23 *Excluding currency exchange effects. CNY:17.41→20.02 Amount due Impact by Increase of to change in currency (Unit : 100 million yen) gross profit by gross margin Increase of SG & fluctuation sales increase A and
Slide 6: Sales by application
Sales by application Medical-bio Steady demand continued mainly for X-ray CT. instrument Shortage of materials for dental applications. Entirely demand for semiconductor instrument was steady, while affecting deteriorating Industrial semiconductor market. instrument Demand for battery inspec
Slide 7: Quarter sales by application
Quarter sales by application (Unit: 100 million yen) 600 500 400 300 200 100 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q (FY2019) (FY2020) (FY2021) (FY2022) (FY2023) Medical-bio instrument Industrial instrument Analytical instrument Measuring instrument Transport instrument Others 🄫…
Slide 8: Financial results by business segment
Financial results by business segment Increased sales and profit YoY in all segments. Outline Boosted operating margin due to transitory factors in Imaging and measurement instruments. (Unit : 100 million yen) *Numbers are rounded down to the nearest 100 million yen. 1H FY2022 1H FY2023 1H FY202
Slide 9: Sales by region
Sales by region 1H FY20222021年9月期 2022年9月期 1H上期 FY2023 North North Europe Europe America America 21.7% 21.5% 26.6% 25.6% Asia Asia Japan Japan 26.2% 27.8% 26.4% 23.9% (Unit: 100 million yen) Europe Asia (of which China) Japan North America 1H FY2022 218 262 (172) 264 257 1H FY2023 240 310 (208) 267
Slide 10: Capital investment / Depreciation / R&D expense
Capital investment / Depreciation / R&D expense (Unit: million yen) Capital investment / Depreciation R&D expense and *Depreciation : PP&E only ratio of R&D expense to sales 10,000 6.0% 20,000 5.2% 5.2% 8,000 5.0% 15,195 15,000 6,000 5,769 4.0% 5,216 10,000 8,492 4,000 3.0% 5,798 5,846 5,000 2,000 2
Slide 11: Summary of results / Earning forecast
1. Summary of results 2. Earning forecast 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 11
Slide 12: Earning forecast: FY2023 forecast
Earning forecast FY2023 forecast We revised initial plan downward due to ahead of adjustment phase expected in FY2024. We expect to decrease profit YoY due to R&D expenses although sales to increase. We revised 2H assumed exchange rate to strong yen. Business environment Although the rapid g
Slide 13: Sales & profit through FY2025
Sales & profit through FY2025 (Unit: 100 million yen) （%） Ratio of SG&A cost (right axis) （%） 2,800 60 25 2,400 50 20 2,000 Gross profit margin (left axis) 40 1,600 15 Operating profit margin (left axis) 30 1,200 10 20 800 5 400 10 Ratio of R&D cost (right axis) 0 0 0 FY2019 FY2020 FY2021 FY2022 FY2
Slide 14: Earning forecast
Earning forecast Revised forecast downward due to inventory adjustment but increased sales YoY. Outline R&D to increase and SG&A to increase due to normalization form COVID-19. (Unit : 100 million yen) *Numbers are rounded down to the nearest 100 million yen. FY2022 FY2023 FY2023 Exchange FY2022
Slide 15: Analysis fluctuation to operating profit 2022-2023
Analysis fluctuation to operating profit 2022-2023 *Excluding currency exchange effects Increase of Amount due ＄:124.55→131.00 gross profit by to change in €:134.51→139.00 Increase of SG & sales increase gross margin CNY:18.18→19.20 A and R & D (23) expenses (Unit : 100 million yen) + 59 Impact by c
Slide 16: Sales forecast by application
Sales forecast by application Demand for PCR test are to decrease due to decreasing demand for inspecting of Medical-bio COVID-19. instrument Continue to be affected by shortage of materials for dental applications. 2H sales of semiconductor instrument are to decrease YoY due to expected deter
Slide 17: Sales forecast by business segment
Sales forecast by business segment Expect sales and profit growth YoY in all segments. Outline Expect operating margin exceed 30% or more in all segments. (Unit : 100 million yen) *Numbers are rounded down to the nearest 100 million yen. FY2022 FY2023 FY2023 YoY Vs Plan (Actual) (Plan) (Actual)
Slide 18: Capital investment / Depreciation / R&D expense
Capital investment / Depreciation / R&D expense (Unit : million yen) 50,000 Capital Investment *Numbers are rounded down to the nearest million yen. 40,000 R&D expense and 30,000 23,097 ratio of R & D expense to sales 23,143 20,000 16,909 30,000 8.0% 11,603 6.2% 6.6% 10,000 18,103 6.3% 8,824 13,057
Slide 19: Progress of Disclosed Matters: Acquisition of NKT Photonics
(Progress of Disclosed Matters) Announcement regarding Acquisition of Shares in (Subsidiary Acquisition of) NKT Photonics A/S in Denmark by Our Consolidated Hamamatsu Photonics K.K. (hereinafter “we”) disclosed on June 24, 2022 that our consolidated subsidiary, Photonics Management Europe S.R.L ("PM
Slide 20: Group companies and offices
Asia Americas HAMAMATSU PHOTONICS K.K. HAMAMATSU CORPORATION Headquarters Main Office / California Office HAMAMATSU PHOTONICS (CHINA)Co., Ltd. PHOTONICS MANAGEMENT Corp. Main Office / Shanghai Branch ENERGETIQ TECHNOLOGY, Inc. / Shenzhen Branch / Wuhan Branch BEIJING HAMAMATSU PHOTON TECHNIQUES INC.
Slide 21: Notes
Notes This material is not intended to be a solicitation to buy or sell any securities of Hamamatsu Photonics K.K. The information contained in this material is based on data available as of making it. No guarantees, promises are made as to its accuracy or completeness. This material includes
Slide 22: 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.
🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 22
Slide 23: Second Quarter Databook
Second Quarter of Fiscal Year ending September 30, 2023 Databook Hamamatsu Photonics K.K. Tokyo Stock Exchange : 6965 May 2023 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 23
Slide 24: Income statements
Income statements (Unit : Million Yen) FY2021 FY2022 FY2023 2nd half Year Year % 1st half 2nd half Year % 1st half (Forecast) (Forecast) % Net sales 169,026 100.0 100,516 108,286 208,803 100.0 111,618 112,282 223,900 100.0 Cost of sales 85,631 50.7 46,243 50,178 96,421 46.2 49,451 54,449 103,900 46.
Slide 25: Sales by application
Sales by application (Unit : Million Yen) FY2021 FY2022 FY2023 Application nd 2 half Year Year % 1st half 2nd half Year % 1st half % (Forecast) (Forecast) Radiographic testing 45,441 26.9 25,666 26,676 52,342 25.1 27,147 26,051 53,199 23.8 Medical-bio Laboratory testing 20,742 12.3 11,623 12,342 23,
Slide 26: Sales by Electron tube segment
Sales by Electron tube segment (Unit : Million yen) FY2021 FY2022 FY2023 Application nd 2 half Year Year % 1st half 2nd half Year % 1st half % (Forecast) (Forecast) Radiographic testing 10,150 15.4 6,055 6,200 12,255 14.8 6,181 5,436 11,617 13.5 Medical-bio Laboratory testing 12,593 19.1 6,479 7,490
Slide 27: Sales by Opto-semiconductor segment
Sales by Opto-semiconductor segment (Unit : Million yen) FY2021 FY2022 FY2023 Application nd 2 half Year Year % 1st half 2nd half Year % 1st half % (Forecast) (Forecast) Radiographic testing 35,284 45.0 19,610 20,476 40,086 41.4 20,966 20,612 41,579 41.4 Medical-bio Laboratory testing 2,930 3.7 1,44
Slide 28: Sales by Imaging and measurement instruments segment
Sales by Imaging and measurement instruments segment (Unit : Million yen) FY2021 FY2022 FY2023 Application nd 2 half Year Year % 1st half 2nd half Year % 1st half % (Forecast) (Forecast) Radiographic testing 2 0.0 0 0 0 0.0 0 2 2 0.0 Medical-bio Laboratory testing 5,206 24.2 3,690 3,173 6,863 25.7 3
Slide 29: Major subsidiaries income statements
Major subsidiaries income statements (The U.S., Germany, China) Local currency (thousand dollar) Yen (million yen) Account FY2022 FY2023 FY2022 FY2023 Company item 2nd half Year 2nd half Year 1st half 2nd half Year % 1st half (Forecast) (Forecast) % 1st half 2nd half Year 1st half (Forecast) (Foreca
Slide 30: Financial forecast by business segment
Financial forecast by business segment (Unit : Million Yen) FY2021 FY2022 FY2023 2nd half Year Year 1st half 2nd half Year 1st half % (Forecast) (Forecast) Electron tube 66,032 40,062 42,476 82,538 43,909 42,390 86,300 38.5 Opto-semiconductor 78,418 46,955 49,856 96,812 50,992 49,457 100,450 44.9 Im
Slide 31: Electron tube's performance
Electron tube's performance (Unit : Million Yen) FY2021 FY2022 FY2023 2nd half Year Year % 1st half 2nd half Year % 1st half % (Forecast) (Forecast) Net sales 66,032 100.0 40,062 42,476 82,538 100.0 43,909 42,390 86,300 100.0 Cost of sales 28,869 43.7 16,181 16,779 32,960 39.9 16,331 17,718 34,050 3
Slide 32: Opto-semiconductor's performance
Opto-semiconductor's performance (Unit : Million Yen) FY2021 FY2022 FY2023 2nd half Year Year % 1st half 2nd half Year % 1st half % (Forecast) (Forecast) Net sales 78,418 100.0 46,955 49,856 96,812 100.0 50,992 49,457 100,450 100.0 Cost of sales 44,633 56.9 24,005 25,900 49,905 51.5 26,136 25,763 51
Slide 33: Imaging and measurement instrument's performance
Imaging and measurement instrument's performance (Unit : Million Yen) FY2021 FY2022 FY2023 2nd half Year Year % 1st half 2nd half Year % 1st half % (Forecast) (Forecast) Net sales 21,543 100.0 11,993 14,688 26,681 100.0 14,864 18,985 33,850 100.0 Cost of sales 10,061 46.7 5,205 6,522 11,727 44.0 5,7
Slide 34: Capital investments, R&D expenses and depreciation
Capital investments, R&D expenses and depreciation (Unit : Million Yen) FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Amount Ratio Amount Ratio 1st quarter 4,235 12.4 2,052 5.7 4,659 13.5 1,758 4.8 4,121 8.8 8,111 14.7 2nd quarter Cumulative 7,939 10.9
Slide 35: Notes
Notes This material is not intended to be a solicitation to buy or sell any securities of Hamamatsu Photonics K.K. The information contained in this material is based on data available as of making it. No guarantees, promises are made as to its accuracy or completeness. This material includes
Slide 36: 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.
🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 36
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