Slide 1: Analyst Briefing | 2nd Quarter FY2011
SUMIDA CORPORATION Analyst Briefing | 2nd Quarter FY2011 1st August 2011 Presented by CFO: Saburo Matsuda & President: Tomoharu Suseki
Slide 2: Key Points of Briefing
KEY POINTS OF BRIEFING Financial Performance ‐ 2nd Quarter FY2011 Business Performance ‐ 2nd Quarter FY2011 Outlook ‐ 3rd Quarter and Rest of FY2011
Slide 3: Consolidated Financial Results 2nd Quarter, FY2011
Consolidated Financial Results 2nd Quarter, FY2011 CFO ‐ Saburo Matsuda
Slide 4: Summary of Consolidated Financial Results
１．Summary of Consolidated Financial Results Millions of yen Change 2011.2Q 2011.1Q 2010.2Q Quarter on Year on Quarter Year Sales 13,880 13,259 14,107 104.7% 98.4% Operating 661 618 1,036 106.9% 63.8% Income Operating 4.8% 4.7% 7.4% 0.1% (2.6%) Income Ratio Ordinary 542 665 447 81.5% 121.3% Income Ne
Slide 5: Sales by Business Segment
２．Sales by Business segment Millions of yen Change 2011.2Q 2011.1Q 2010.2Q Quarter on Year on Year Quarter Asia Pacific 8,601 8,450 9,231 101.8% 93.2% EU 5,278 4,809 4,876 109.8% 108.2% Total 13,880 13,259 14,107 104.7% 98.4%
Slide 6: Sales by Market
３．第2四半期連結会計期間 市場別売上高（参考） Millions of yen Change 2011.2Q 2011.1Q 2010.2Q Quarter on Year on Quarter Year Automotive 6.905 6,895 6,612 100.1% 104.4% Consumer 4,491 4,226 5,244 106.3% 85.6% Electronics Industrial 2,484 2,138 2,251 116.2% 110.4% Total 13,880 13,259 14,107 104.7% 98.4%
Slide 7: Operating Income Analysis
４．Operating Income analysis Millions of yen Asia EU HQ Total 11.1Q pacific Operating Income FY10.2Q 1,260 386 (600) 1,036 1,025 Sales (150) +84 (66) 183 increase/decrease Material cost increase (292) － (292) (180) Labor cost increase in (121) － (121) (150) China Start up cost of (61) － (61) (80) sat
Slide 8: Non-operating Income/Expense
５．Non‐operating Income/Expense Millions of yen FY11.1st FY10.1st FY11.1Q FY11.2Q Half Half Dividend & Interest (124) (65) (189) (291) Received Evaluation 49 (39) 10 (23) Profit/Loss from Forex Gain (Loss) 146 (7) 139 (520) Others (24) (5) (29) 7 Total 47 (116) (69) (827)
Slide 9: Consolidated Balance Sheet
６．Consolidated Balance Sheet Millions of yen FY11.2Q FY10.4Q Change % Current Assets 28,771 27,168 1,603 5.9 Fixed Assets 22,587 22,145 442 2.0 Current 32,426 31,318 1,108 3.5 Liabilities Fixed Liabilities 9,116 9,243 (127) (1.4) Shareholders’ 20,035 19,673 362 1.8 Equity Translation (10,713) (11,38
Slide 10: Consolidated Cash Flow Statement
７．Consolidated Cash Flow statement Millions of yen 1st Half FY2011 1st Half FY2010 Cash Flow from Operating Activities 108 376 Cash Flow from Investment Activities (1,160) (641) Cash Flow from Financing Activities 314 (1,896) Cash & Cash Equivalents 6,725 6,187
Slide 11: Depreciation, CAPEX, R&D
８．Depreciation, CAPEX, R&D Millions of yen FY2011 1Q actual 2Q actual 2H Plan Annual Plan Depreciation 535 549 1,330 2,420 CAPEX 521 663 1,480 2,670 R&D 263 275 790 1,330 Expenditure ¥ vs US $ 82.87 82.10 ー 82.00 ¥ vs EURO 111.07 117.05 ー 112.00
Slide 12: President's Commentary 2nd Quarter FY2011
President’s Commentary 2nd Quarter FY2011 President: Tomoharu Suseki
Slide 13: On Track for the FY2011 Plan
ON TRACK FOR THE FY2011 PLAN OI Ratio ４．８％ Sales １３，８８０M Sales – improved by 4.7% quarter‐on‐quarter Operating Income affected by: Raw material fluctuation, increased labour costs in China. Copyright© 2011 SUMIDA CORPORATION. All rights reserved.
Slide 14: Performance Trend by Market
PERFORMANCE TREND BY MARKET Automotive Consumer Industrial Automotive 2Q: 4.43% increase y‐o‐y Consumer Electronics 2Q: 14.36% decrease Industrial 2Q: 10.40% increase y‐o‐y Copyright© 2011 SUMIDA CORPORATION. All rights reserved.
Slide 15: Raw Material Price Impact on Profitability
RAW MATERIAL PRICE IMPACT ON PROFITABILITY When calculating costs of new products the latest copper price is considered. Prices of products composed of large amounts of copper are linked to copper price. FY2010 Q2 FY2011 Q2 Copyright© 2011 SUMIDA CORPORATION. All rights reserved.
Slide 16: Shifting to Satellite Factories
SHIFTING TO SATELLITE FACTORIES Transfer of production lines to satellite Plants. Jiangxi Centralization of Hunan Nanning 2010 back offices in hub 2010 2008 plants for improved 2010 Expansion efficiency. Vietnam 2010 Hub plants Implementation of Thailand Panyu improvement of （production item
Slide 17: Market Highlights - Automotive
MARKET HIGHLIGHTS ‐ AUTOMOTIVE Market Trends New Products European market remains Production of transformers positive. for HEV have commenced. Japanese market, having suffered severely from the Tohoku Earthquake and Development of ensuing events, is expected to recover from 3Q onwards. trans
Slide 18: Market Highlights - Consumer
MARKET HIGHLIGHTS ‐ CONSUMER Market Trends New Products New orders from Japanese Production of manufacturers plummeted transformers for use in in 2Q due to the Tohoku battery chargers in smart Earthquake. However, phone and tablet PC orders are expected to applications. recover in the latter par
Slide 19: Market Highlights - Industrial
MARKET HIGHLIGHTS ‐ INDUSTRIAL Market Trends New Products As a result of the Fukushima Construction machinery Power Plant disaster, the (hydraulic) number of renewable energy development projects has surged. In particular, there is strong demand for inverter Valve Coil related products for Rea
Slide 20: Looking Forward
LOOKING FORWARD General electronics industry supply chain issues and delays expected to be remedied in 2HY 2011. Output from Car Manufacturers expected to be fully recovered by October 2011. We expect the 3rd Quarter to be in line with our planned targets and we expect to be on track for 2HY 2
Slide 21: Disclaimer
Disclaimer The present slides are provided only to serve the purpose of disclosing information in your evaluation of the Company. Final decision on investments or similar decision is left to your absolute discretion. The Company disclaims responsibility or liability for any or all results arising fr