Marubun Corporation · TSE:7537
Marubun — H1 FY2008 Earnings Presentation
20 slides from Marubun's earnings presentation, Nov 11, 2008
Slide 1: Financial Information Briefing for First Half of Fiscal Year Ending March 31, 2009
Financial Information Briefing for First Half of Fiscal Year Ending March 31, 2009 November 11, 2008 Within the presentation, information on the future performance such as results forecasts is based on the data available at the time this presentation was prepared that the Company assumes reasonable.
Slide 2: Fiscal 2008 First-Half Consolidated Financial Results
Fiscal 2008 First-Half Consolidated Financial Results (Million yen) Sep/08 (Result) Sep/07 (Result) Change Net Sales 107,425 124,152 (13.5%) Gross Profit 10,615 11,547 (8.1%) Operating Income 1,071 2,150 (50.2%) Ordinary Income 882 1,861 (52.6%) Net Income 369 884 (58.3%) 1 [FY2008 First-Half Consol
Slide 3: Sales by Segment
Sales by Segment (Million yen) Sep/08 (Result) Sep/07 (Result) Change Consolidated Net Sales 107,425 124,152 (16,727) Electronic Devices 90,899 107,487 (16,588) Electronic Systems 16,526 16,664 (138) 2 [Net Sales By Segment] • We would next like to provide an explanation of the sales by segment. • S
Slide 4: Electronic Devices Net Sales by Product
Electronic Devices Sales by Product 107,487 (Million yen) 11,788 Total -16,588 90,899 9,083 Devices -1,551 Decrease in TFT panels 10,237 10,805 3,529 Discrete -5,554 Decrease in ICs for video games 6,694 Custom IC -4,111 Decrease in ICs for video games Special-use IC +107 (Breakdown) 43,039 Micro pr
Slide 5: Electronic Devices Sales by Application and Supplier
Electronic Devices Sales by Application and Supplier Sales by Application Sales by Supplier Industrial Equipment and Other Other 16% 28% TI Consumer 34% Automobile Electronics 8% 34% 2008/9 2008/9 OA Equipment 13% Freescale Broadcom 5% Communication Samsung 13% Equipment 12% 29% Seiko Epson Epson To
Slide 6: Electronic Systems – Sales by Product
Electronic Systems – Sales by Product (Million yen) Total -138 16,664 16,526 Medical Equipment -452 Decrease in demand for hospital 4,307 construction 4,759 2,850 2,611 Laser Equipment -239 425 Scientific Equipment -888 Decrease in thin-film equipment 1,313 for LED manufacturing Measurement & +41 5,
Slide 7: Factors Affecting Ordinary Income
Factors Affecting Ordinary Income (Million yen) 2,000 Decline in 1,500 Gross Profit -930 Increase in SG&A expenses Non-operating income 1,000 -148 +100 1,861 500 882 0 2007/9 2008/9 [Gross Profit] Decrease from decline in sales [SG&A Expenses] Increase in retirement benefit expenses +288 million yen
Slide 8: Consolidated Balance Sheet
Consolidated Balance Sheet (Million yen) 2008/9 2008/3 Change Current Assets 101,857 104,390 -2,533 Reasons for major changes Cash and deposits 9,254 7,451 1,803 Notes and accounts receivable-trade 55,517 61,536 -6,019 [Current assets] Merchandise 31,315 30,978 337 Decline in receivables accompanyin
Slide 9: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows (Million yen) 08/9 07/9 Change Income before income taxes 822 1,811 -989 Main reason for changes Depreciation and amortization 356 591 -235 Amortization of goodwill 54 50 4 [Cash flows from operating activities] Equity in (earnings) losses of affiliates -60 -49 -
Slide 10: Trends in Orders
Trends in Orders (Million yen) 63,188 64,964 62,062 57,565 53,965 52,253 Electronic Systems Electronic Devices 07/4-6 07/7-9 07/10-12 08/1-3 08/4-6 08/7-9 (1Q) (2Q) (3Q) (4Q) (1Q) (2Q) 9 [Trends in Orders] • The graph shows orders for recent quarters. • Since the beginning of 2008, demand for electr
Slide 11: Trends in Net Sales
Trends in Net Sales (Million yen) 62,156 61,995 61,300 59,836 58,639 Electronic 48,785 Systems Electronic Devices 07/4-6 07/7-9 07/10-12 08/1-3 08/4-6 08/7-9 (1Q) (2Q) (3Q) (4Q) (1Q) (2Q) 10 [Trends in Net Sales] • The graph shows recent sales.
Slide 12: FY2008 Consolidated Results Forecasts
FY2008 Consolidated Results Forecasts (Million yen) FY 2008 FY 2007 Change (Forecast) (Result) Net Sales 229,000 245,289 (6.6%) Gross Profit 22,500 22,318 +0.8% Operating Income 3,400 3,648 (6.8%) Ordinary Income 3,050 2,956 +3.2% Net Income 1,450 889 +63.1% 11 [FY2008 Consolidated Results Forecast]
Slide 13: FY2008 Consolidated Results Forecasts (Comparison with initial forecast)
FY2008 Consolidated Results Forecasts (Comparison with initial forecast) (Million yen) FY 2008 FY 2008 Change Revised forecast Initial forecast Net Sales 229,000 250,000 (8.4%) Gross Profit 22,500 24,200 (7.0%) Operating Income 3,400 4,200 (19.0%) Ordinary Income 3,050 3,800 (19.7%) Net Income 1,450
Slide 14: Electronic Devices – Sales Projections by Product
Electronic Devices – Sales Projections by Product (Million yen) 205,309 Total -20,659 24,457 184,650 20,531 Devices -3,926 Decrease in TFT panels 16,131 20,625 8,128 Discrete -8,003 Decrease in ICs for video games 14,006 Custom IC -6,619 Decrease in ICs for video games Special-use IC +2,064 (Breakdo
Slide 15: Electronic Systems – Sales Projections by Product
Electronic Systems – Sales Projections by Product (Million yen) Total +4,371 44,350 39,979 Medical Equipment -193 12,135 12,328 6,053 Laser Equipment +196 5,857 3,845 Scientific Equipment +1,126 Increase in thin-film equipment for LED 2,719 manufacturing Measurement & +2,186 Increase in X-ray inspec
Slide 16: Factors Affecting Ordinary Income
Factors Affecting Ordinary Income (Million yen) 4,000 Increase in Increase in Gross Profit SG&A Non-operating Expenses Income +182 3,000 -430 +342 2,000 2,956 3,050 1,000 0 FY2007 FY2008 (forecast) [Gross profit] Improvements in the gross profit margin: 9.1% (FY2007) 9.8% (FY2008) [SG&A expenses] In
Slide 17: Electronic Devices Business Strategy: Establish a foundation for stable growth
Electronic Devices Business Strategy Establish a foundation for stable growth X Expanding sales of analog ICs – Expansion of sales of ICs mainly for industrial equipment – Sales expected to increase 20% year on year for Texas Instruments, Inc. analog products Sales transitions in the X Increase sa
Slide 18: Electronic Devices Business Strategy: Focus on the growing markets
Electronic Devices Business Strategy Focus on the growing markets X Focus on the cellular phone and flat panel TV and digital camera markets – Surge in sales of Broadcom communication module ICs X Developing the next-generation communications infrastructure market (NGN, WiMax) X Promoting the deve
Slide 19: Electronic Systems Business Strategy
Electronic Systems Business Strategy Promoting the system integration business/strategic alliance ► Laser Micromachining Project Technological development for mass production phase is ongoing ► Wafer Inspection Project Joint development of new inspection equipment for super-thin wafer and trans
Slide 20: Return to Shareholders: Expected Dividend
Return to Shareholders Expected Dividend FY2007 FY2008 Actual (Projection) Annual Dividend Per Share 18 yen 14 yen Interim Dividend 12 yen 8 yen End of Year Dividend 6 yen 6 yen 19 [Return to Shareholders] • Finally, we would like to discuss the return of profits to shareholders. • We sincerely re