Hamamatsu Photonics K.k. · TSE:6965
Hamamatsu Photonics K.k — FY2019 Earnings Presentation
38 slides from Hamamatsu Photonics K.k's earnings presentation, November 2019
Slide 1: Fiscal Year ended September 30, 2019 Financial Report
Hamamatsu Photonics K.K. Fiscal Year ended September 30, 2019 Financial Report Tokyo Stock Exchange : 6965 November 2019 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 1
Slide 2: 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 3: Summary of consolidated results; medium to short-term plan
1. Summary of consolidated results 2. Consolidated medium to short-term plan 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 3
Slide 4: Summary of consolidated financial results
Summary of consolidated financial results 1. Net sales are 145.9 billion yen (up by 1.1% from last year, +1.5 billion yen). Sales in the industrial field declined significantly due to U.S.-China trade conflict and downhold of capital investment, but this was covered by medical-bio field and reached
Slide 5: Consolidated financial results
Consolidated financial results Unit :Million Yen Compared Increase in Medical-bio field FY2018 FY2019 with prev. year result result …Sustained market expansion Amount Rate Decrease in industry field Net Sales 144,338 145,912 1,574 1.1 % …Effect by downhold of capital investment due to U.S.-China tra
Slide 6: Analysis of impact by currency fluctuation to Operating Income
Analysis of impact by currency fluctuation to Operating Income 2018-2019 Unit :Million Yen 35,000 *Excluding currency exchange effects Increase of gross profit Amount due to Increase of SG & A by sales increase change in gross and R & D Impact by 30,000 profit ratio expenses currency ＋ 1,586 0 (2,34
Slide 7: FY2019 sales by industry & application
FY2019 sales by industry & application Transport instrument Information Optical Consumer Others (automotive sensor, auto-LAN, ITS) /communication instrument 0.6% 4.3% 3.4% 1.2% 1.8% Measuring instrument Nuclear medical (radiation monitoring, instrument (X-ray CT, PET, oil well logging) gamma camera,
Slide 8: Sales by industry & application
Sales by industry & application Steady performance of X-ray CT, PET, Drastic reduction of semiconductor and FA Delivery to big project completed dental X-ray etc. by downhold of capital investments No major project ongoing Increase of Laboratory testing Increase of Non-destructive inspection for inc
Slide 9: Consolidated financial results by business segment
Consolidated financial results by business segment Unit :Million Yen Amount of Segment Account item FY2018 FY2019 change / Summary percent change 1,812 Measuring instrument has increased. Net sales 57,781 59,593 3.1％ …Increase of Oil well logging Medical-bio instrument has increased. Electron tube …
Slide 10: Sales by region
Sales by region Europe Asia and China Japan North America FY2018 FY2018 25.3％ 22.3％ 29.0％ 23.1％ FY2019 23.6％ 22.5％ 28.5％ 25.3％ Unit Unit :Million :Million Yen Yen Europe Asia and China Japan North America FY2018 36,545 32,252 41,918 33,363 FY2019 34,493 32,775 41,576 36,850 Amount of change (2,052)
Slide 11: Capital investment, Depreciation, R & D expense
Capital investment, Depreciation, R & D expense Unit :Million Yen Capital investment Depreciation R & D expense and ratio of R & D expenses to New building at Ichino factory (Opto- 15,000 semiconductor) … 3,500 million yen sales New building at Toyooka factory (Electron 14,000 18,000 tube) … 2,200 m
Slide 12: Summary of consolidated results; medium to short-term plan
1. Summary of consolidated results 2. Consolidated medium to short-term plan 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 12
Slide 13: Summary of FY2020 and medium to short-term plan
Summary of FY2020 and medium to short-term plan 1. Sales is expected to recover from second half of FY2020. Net Sales projection is 150.2 billion yen (up by 2.9% year-on- year, +4.2 billion yen). Operating Income is planed to be 26.9 billion yen (up by 5.9% year- on-year, +1.4 billion yen). 2. Net S
Slide 14: Sales & profit through FY2022
Sales & profit through FY2022 Sales Unit :Million Yen Profit 180,000 40,000 160,000 35,000 Average annual 140,000 30,000 growth rate over 3yrs 120,000 25,000 100,000 Medical-bio : +4.2％ 20,000 80,000 Industrial : +12.0% 15,000 60,000 10,000 Analytical : +5.4% 40,000 20,000 5,000 Academic : +12.8%、 0
Slide 15: Consolidated financial forecast
Consolidated financial forecast Unit :Million Yen Compared FY2019 FY2020 Sales : 1st half 74,200 million yen with prev. year result forecast 2nd half 76,000 million yen Amount Rate Medical-bio is expected to increase. Net Sales 145,912 150,200 4,288 2.9 % …Radiation application and laboratory testin
Slide 16: Analysis of impact by currency fluctuation to operating income
Analysis of impact by currency fluctuation to operating income (trial calculation) 2019-2020 *Excluding currency exchange effects Unit :Million Yen 35,000 Amount due to Increase of gross profit change in gross Increase of SG & A Impact by and R & D expenses by sales increase profit ratio currency 30
Slide 17: Sales forecast by industry & application
Sales forecast by industry & application Expects steady increase of X-ray CT, PET, Semiconductor and FA expected to HL-LHC delivery to start but Big dental X-ray and Laboratory testing recover from 2nd half project scheduled from FY2022 Expecst increase of non-destructive inspection Geological inves
Slide 18: Consolidated financial forecast by business segment
Consolidated financial forecast by business segment Unit :Million Yen Amount of FY2020 Segment Account item FY2019 change / Summary (Forecast) percent change (843) Medical-bio instrument is expected to increase. Net sales 59,593 58,750 …Laboratory testing to increase (1.4％) Academic research is expe
Slide 19: Plans of Capital investment, Depreciation, R & D expense
Plans of Capital investment, Depreciation, R & D expense Unit :Million Yen Capital investment, Depreciation R & D expense and New building at Toyooka factory New building at Shingai factory ratio of R & D expenses 30,000 (Electron tube) …5,000 million yen (Opto-semicon.) …700 million yen 15,000 to s
Slide 20: Group locations: Asia, North America, Europe
Asia North America HAMAMATSU PHOTONICS K.K. HAMAMATSU CORPORATION Headquarters Main Office / California Office / Chicago Office HAMAMATSU PHOTONICS (CHINA)Co., Ltd. / Boston Office Head Office / Shanghai Branch / Shenzhen Branch PHOTONICS MANAGEMENT Corp. BEIJING HAMAMATSU PHOTON TECHNIQUES INC. ENE
Slide 21: 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.
🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 21
Slide 22: Fiscal Year ended September 30, 2019 Databook
Hamamatsu Photonics K.K. Fiscal Year ended September 30, 2019 Databook Tokyo Stock Exchange : 6965 November 2019 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 22
Slide 23: 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 24: Consolidated income statements
Consolidated income statements Unit :Million Yen FY2018 FY2019 FY2020(Forecast) FY2021(Forecast) FY2022(Forecast) Year % 1st half 2nd half Year % 1st half 2nd half Year % Year % Year % Net sales 144,338 100.0 74,413 71,499 145,912 100.0 74,200 76,000 150,200 100.0 163,600 100.0 177,100 100.0 Cost of
Slide 25: Sales by industry & application (consolidated)
Sales by industry & application (consolidated) Unit :Million Yen FY2018 FY2019 FY2020 (Forecast) Application March September March September March September 1st half nd 2 half Year % 1st half nd 2 half Year % st nd 1 half 2 half Year % Medical-bio instrument 27,165 25,830 52,994 36.7 28,894 28,878 5
Slide 26: Sales by industry & application of Electron tube segment
Sales by industry & application of Electron tube segment Unit :Million Yen FY2018 FY2019 FY2020 (Forecast) Application March September March September March September 1st half nd 2 half Year % 1st half nd 2 half Year % st nd 1 half 2 half Year % Medical-bio instrument 9,964 9,589 19,283 33.4 10,445
Slide 27: Sales by industry & application of Opto-semiconductor segment
Sales by industry & application of Opto-semiconductor segment Unit :Million Yen FY2018 FY2019 FY2020 (Forecast) Application March September March September March September 1st half nd 2 half Year % 1st half nd 2 half Year % st nd 1 half 2 half Year % Medical-bio instrument 14,561 14,224 28,786 42.6
Slide 28: Sales by industry & application of Imaging and measurement instruments segment
Sales by industry & application of Imaging and measurement instruments segment Unit :Million Yen FY2018 FY2019 FY2020 (Forecast) Application March September March September March September 1st half nd 2 half Year % 1st half nd 2 half Year % st nd 1 half 2 half Year % Medical-bio instrument 2,756 1,9
Slide 29: Major subsidiaries income statements (The U.S., Germany, China)
Major subsidiaries income statements (The U.S., Germany, China) Local currency (thousand local currency) Yen (million yen) Company Account item FY2018 FY2019 FY2018 FY2019 Year ％ Year ％ Year Year Net sales 342,360 100.0 365,939 100.0 37,817 40,289 Hamamatsu Corporation Gross profit 80,196 23.4 78,94
Slide 30: Consolidated financial forecast by business segment
Consolidated financial forecast by business segment Unit :Million Yen FY2020 FY2018 FY2019 FY2021 FY2022 (Forecast) (Forecast) (Forecast) Year 1st half 2nd half Year 1st half 2nd half Year Electron tube 57,781 30,000 29,593 59,593 29,050 29,700 58,750 61,450 66,450 Opto- 67,494 34,018 31,988 66,006
Slide 31: Electron tube's consolidated performance
Electron tube's consolidated performance Unit :Million Yen FY2020 2021 2022 FY2018 FY2019 (Forecast) (Forecast) (Forecast) Year % 1st half 2nd half Year % 1st half 2nd half Year % Year % Year % Net sales 57,781 100.0 30,000 29,593 59,593 100.0 29,050 29,700 58,750 100.0 61,450 100.0 66,450 100.0 Cos
Slide 32: Opto-semiconductor's consolidated performance
Opto-semiconductor's consolidated performance Unit :Million Yen FY2020 2021 2022 FY2018 FY2019 (Forecast) (Forecast) (Forecast) Year % 1st half 2nd half Year % 1st half 2nd half Year % Year % Year % Net sales 67,494 100.0 34,018 31,988 66,006 100.0 34,800 35,750 70,550 100.0 77,850 100.0 83,250 100.
Slide 33: Imaging & measurement instrument's consolidated performance
Imaging & measurement instrument's consolidated performance Unit :Million Yen FY2020 2021 2022 FY2018 FY2019 (Forecast) (Forecast) (Forecast) Year % 1st half 2nd half Year % 1st half 2nd half Year % Year % Year % Net sales 17,169 100.0 9,296 9,116 18,412 100.0 9,300 9,300 18,600 100.0 20,350 100.0 2
Slide 34: Consolidated sales by product line 1
Consolidated sales by product line 1 Unit :Million Yen FY2015 FY2016 FY2017 FY2018 FY2019 Segment Product Year Year Year Year Year PMT for medical inspection 6,829 6,142 6,401 7,108 8,084 Scintillator(FOS, ACS, ALS) 5,092 4,823 5,030 5,561 5,248 Micro-focus X-ray light source 3,761 3,668 4,037 4,727
Slide 35: Consolidated sales by product line 2
Consolidated sales by product line 2 Unit :Million Yen FY2015 FY2016 FY2017 FY2018 FY2019 Segment Product Year Year Year Year Year Si photodiode for medical instrument 12,037 13,195 12,286 12,534 13,997 Linear/area image sensor 11,023 11,322 13,409 14,832 11,530 Flat panel image sensor 6,628 7,077 9
Slide 36: Consolidated capital investment, R & D expenses and depreciation
Consolidated capital investment, R & D expenses and depreciation Unit :Million Yen FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 Ratio to Ratio to Ratio to Ratio to Ratio to Ratio to sales (%) sales (%) sales (%) sales (%) sales (%) sales (%) 1st quarter 4,961 19.0 3,122 10.9 1,441 4.8 4,441 14.8 4,235
Slide 37: High-energy physics experiments using photomultiplier tubes
High-energy physics experiments using photomultiplier tubes Expected year of Type Project Name Purpose Place first delivery number 40,000 Underground Hyper-Kamiokande Neutrino, Proton decay Japan 2020 7,000 KM3NeT Neutrino Mediterranean Sea 2020 175,000 Deep-sea Baikal-GVD Neutrino Russia 2015 10,00
Slide 38: 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.
🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 38
Hamamatsu Photonics K.K. — FY2019 Earnings Presentation on 6ix