Horiba, Ltd. · TSE:6856
Horiba — Nomura Investment Forum Asia 2021
39 slides from Horiba's conference presentation, May 2021
Slide 1: Nomura Investment Forum Asia 2021 - Financial Information
Nomura Investment Forum Asia 2021 Financial Information HORIBA, Ltd. May, 2021 © 2021 HORIBA, Ltd. All rights reserved. 1
Slide 2: Contents
Contents 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast Topics – HORIBA’s Contribution for Social Issues Shareholder Return Financial Data Corporate Profile © 2021 HORIBA, Ltd. All rights reserved. 2
Slide 3: Contents
Contents 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast Topics – HORIBA’s Contribution for Social Issues Shareholder Return Financial Data Corporate Profile © 2021 HORIBA, Ltd. All rights reserved. 3
Slide 4: Review of 2020
Review of 2020 Economic contraction, driven by COVID-19 impacts Sluggish capital investment and accelerated investment in External electrification by the automobile industry Events Increased investment in semiconductor production equipment due to increased demand for data transmission Height
Slide 5: 2020 Results
2020 Results (Billions of Yen) 2019 2020 Forecast vs vs Results Results Forecast (as of Nov. 12) 2019 (as of Nov. 12) Sales 200.2 188.0 187.0 -13.1 -0.9 Operating Profit 20.9 16.0 19.6 -1.2 +3.6 O.P.% 10.4% 8.5% 10.5% ＋0.1p ＋2.0p Ordinary Profit 20.5 15.0 19.3 -1.1 +4.3 Net Income attributable to Ow
Slide 6: 2020 Results by Segment
2020 Results by Segment (Billions of Yen) Sales Operating Profit 2019 2020 2019 2020 vs vs vs vs Results Forecast Results Results Forecast Results :Record-high (as of Nov. 12) 2019 Forecast (as of Nov. 12) 2019 Forecast (as of Nov. 12) (as of Nov. 12) Auto 81.0 67.0 63.9 -17.1 -3.0 6.4 0.5 2.4 -3.9
Slide 7: 2020 Results (B/S, CF)
2020 Results (B/S, CF) Total assets were ¥328.0bn, up ¥12.9bn, by establishing B/S some bases and financing Equity ratio: 54.3% (compared to the end of Dec. 2019) Operating CF: Cash in ¥32.2bn due to operating profit Free CF: + ¥18.2bn Investing CF: Cash out ¥14.0bn due to CF capital investments
Slide 8: Contents
Contents 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast Topics – HORIBA’s Contribution for Social Issues Shareholder Return Financial Data Corporate Profile © 2021 HORIBA, Ltd. All rights reserved. 8
Slide 9: 2021 1Q (Jan-Mar) Results
2021 1Q (Jan-Mar) Results （Billions of yen） Increased in sales and profits mainly due to an increase in sales of the Semiconductor segment 2020 2021 vs 2020 1Q Results 1Q Results Changes % (Jan-Mar) (Jan-Mar) Sales 44.9 48.5 +3.5 +8% Operating Profit 3.8 5.9 +2.0 +52% O.P.% 8.7% 12.2% ＋3.5p - Ordina
Slide 10: 2021 1Q (Jan-Mar) Results by Segment
2021 1Q (Jan-Mar) Results by Segment （Billions of yen) Sales Operating profit 2020 2021 vs 2020 2020 2021 vs 2020 1Q 1Q 1Q Results 1Q Results Results Changes % Results Changes % (Jan-Mar) (Jan-Mar) (Jan-Mar) (Jan-Mar) Auto 14.8 12.1 -2.7 -18.3% 0.3 -0.4 -0.7 - P&E 4.5 5.2 +0.6 +13.7% 0.2 0.6 +0.4 +1
Slide 11: Contents
Contents 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast Topics – HORIBA’s Contribution for Social Issues Shareholder Return Financial Data Corporate Profile © 2021 HORIBA, Ltd. All rights reserved. 11
Slide 12: 2021 Forecasts
2021 Forecasts （Billions of yen） By taking into account the recent order trend of the Semiconductor segment, revised forecasts of sales and all profits upwardly 2020 2021 Changes Previous Results Forecasts vs 2020 vs Previous Forecasts (as of May 13) Forecasts (as of Feb. 15) Sales 187.0 200.0 210.0
Slide 13: 2021 Forecasts by Segments
2021 Forecasts by Segments （Billions of yen） Sales Operating 2020 2021 Changes 2020 2021 Changes Previous Previous Forecasts vs Previous Forecasts vs Previous Results Forecasts vs 2020 Results Forecasts vs 2020 (as of May 13) Forecasts (as of May 13) Forecasts :Record-high (as of Feb. 15) (as of Feb
Slide 14: Contents
Contents 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast Topics – HORIBA’s Contribution for Social Issues Shareholder Return Financial Data Corporate Profile © 2021 HORIBA, Ltd. All rights reserved. 14
Slide 15: HORIBA's Contribution to Social Issues
HORIBA’s Contribution to Social Issues Business Expansion in Response to Various Social Issues 1. Market Oriented Business To develop analysis and measurement solutions, utilizing HORIBA’s core technologies, in the leading three business fields of the mega trend Energy & Environment Bio & Healthcare
Slide 16: Developing the Sensing Technology for the Semiconductor Market
Developing the Sensing Technology MLMAP2023 Market Oriented Business for the Semiconductor Market Materials & Semiconductor Promote Optical Smart Sensing Technology From the perspective of the Optical Smart Sensing (OSS) technology, utilize various sensing technologies owned by the HORIBA Group gl
Slide 17: Development of Healthcare Business <Medical Business>
Development of Healthcare Business MLMAP2023 Market Oriented Business <Medical Business> Bio & Healthcare Expand Business in the US by Acquiring MedTest Engaged in R&D and production of a wide range of biochemical reagents. Possesses the application development function, which is combined with equi
Slide 18: Business Expansion in the Pharmaceutical Industry
Business Expansion MLMAP2023 Market Oriented Business in the Pharmaceutical Industry Bio & Healthcare Contribution in a Wide Range, from R&D to Production Processes Highly-sensitive and rapid microbial Pharmaceutical process evaluation Analysis of exosomes1 in blood contamination inspection Nanopart
Slide 19: Hydrogen Energy Society and HORIBA
MLMAP2023 Hydrogen Energy Society and HORIBA Market Oriented Business Energy & Environment Hydrogen Energy: "Clean," "Storable and Transportable," and "Inexhaustible" Hydrogen Smartly Production Storage Use Evaluator rf-GD-OES1 (GDS) Evaluator EC/ES Evaluate the EC/ES Control the hydrogen Meet
Slide 20: Vehicle Electrification and HORIBA
MLMAP2023 Vehicle Electrification and HORIBA Market Oriented Business Energy & Environment Provide Total Solution for the Vehicle Development – from Internal Combustion Engine to Electrification R&D Technology requirement Vehicle type Powertrain Vehicle Drivetrain Engine Batty/Fuel cell (ICE) Intern
Slide 21: Established Vehicle Development Center for Connected and Autonomous
Established Vehicle Development Center for MLMAP2023 Market Oriented Business Connected and Autonomous Energy & Environment Comprehensive Support from Design to feasible verification of vehicle Comprehensive R&D and Engineering facilities (Open in Mar. 2021) Support vehicle development from four asp
Slide 22: Vehicle Electrification and HORIBA [HORIBA MIRA]
Vehicle Electrification and HORIBA MLMAP2023 Market Oriented Business [HORIBA MIRA] Energy & Environment HORIBA MIRA's Latest Projects HORIBA MIRA & REE Automotive HORIBA MIRA & TOGG Invited REE Automotive1 to open its Engineering Center of Be a key partner of TOGG during the development Excelle
Slide 23: Initiatives for Open Innovation
MLMAP2023 Initiatives for Open Innovation Market Oriented Business Energy & Environment/Materials & Semiconductor Collaborate with Academia Globally HORIBA & National Institute of HORIBA & University of California, Irvine Advanced Industrial Science and Technology (AIST) A new research institute s
Slide 24: Opened a Production Base for Advanced Spectroscopic Technology in Europe
Opened a Production Base for MLMAP2023 Market Oriented Business Advanced Spectroscopic Technology in Europe Materials & Semiconductor Leading the Market as an Advanced Company in Spectroscopic Technology Relocated an R&D and production base in Lille, France and doubled the building area. Strengt
Slide 25: Aim to Establish New Business Model
MLMAP2023 Aim to Establish New Business Model Solution Provider Beyond Life Cycle Management Built New Headquarters for HORIBA TECHNO SERVICE Functions as the forefront of the sales division that creates Start of operation in Feb. 2021 Total cost: Approx. 3.8 billion yen a continuous use cycle for
Slide 26: Participation in the HAYABUSA2 Sample Analysis Project
Participation in the HAYABUSA2 MLMAP2023 Solution Provider Sample Analysis Project Beyond Life Cycle Management Participation in the Initial Analysis Project Six international teams are conducting initial analysis of samples taken from the asteroid, Ryugu. HORIBA TECHNO SERVICE, which specialize
Slide 27: Awarded Nadeshiko Brands and Health & Productivity Stock Selection Program
Awarded Nadeshiko Brands and Health & Productivity Stock Selection Program by METI and Tokyo Stock Exchange Activities aimed at realizing a better working environment highly evaluated from the stock market Evaluated the engagement based on our Diversity promotion activities “HORIBA Stained Glass P
Slide 28: Contents
Contents 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast Topics – HORIBA’s Contribution for Social Issues Shareholder Return Financial Data Corporate Profile © 2021 HORIBA, Ltd. All rights reserved. 28
Slide 29: Shareholder Return
Shareholder Return Dividend payment + Share buyback = 30% of Consolidated net profit to be targeted Basic Policy Remaining earnings are retained internally for strategic investment (i.e. facilities, M&A) Dividends per share and Share buybacks 2019 Results: 130YEN [Interim 50yen / Year-end 80ye
Slide 30: Contents
Contents 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast Topics – HORIBA’s Contribution for Social Issues Shareholder Return Financial Data Corporate Profile © 2021 HORIBA, Ltd. All rights reserved. 30
Slide 31: Operating Profit Analysis (vs 2020 Jan - Mar)
Operating Profit Analysis (vs 2020 Jan - Mar) (Billions of Yen) 2020 2021 Jan. – Mar. Jan. – Mar. Increase Exchange Exchange Decrease Increase Decrease Cost of Goods Impact for Impact for Other 3.89 Sales +3.36 Sales Gross Profit Expenses R&D Cost +0.28 Expense 5.93 -1.84 -0.05 -0.15 +0.44 Increase
Slide 32: Impact of Fluctuation in Foreign exchange
Impact of Fluctuation in Foreign exchange (Billions of Yen) Exchange rate impact Exchange rate impact for 2021 Forecast for 2021 Jan. - Mar. 1 yen impact of Sales and O.P. (vs 2020 Jan. - Mar.) (Yen appreciation) Increase Sales +0.22 Operating Sales Increase Cost of Goods Sales -0.28 Profit Increase
Slide 33: Capital Investment, Depreciation, R&D
Capital Investment, Depreciation, R&D (Billions of Yen) 2020 2021 2021 Old Forecast Forecast Actual Results Diff. (as of Feb. 15) (as of May 13) Jan - Mar Capex 15.1 16.5 16.5 - 3.4 Depreciation and 9.6 10.5 10.5 - 2.4 amortization R&D expenses 15.5 17.0 17.0 - 3.8 to net sales(%) 8.3% 8.5% 8.1% 8.0
Slide 34: Contents
Contents 2020 Results 2021 1Q (Jan.- Mar) Results 2021 Forecast Outlines by Business Segment Topics – HORIBA’s Contribution for Social Issues Shareholder Return Financial Data Corporate Profile © 2021 HORIBA, Ltd. All rights reserved. 34
Slide 35: Five Business Segments & Major Products
Five Business Segments & Major Products Figures are the sales composition ratio for FY 2020 Process & Medical Automotive Semiconductor Scientific Environmental Diagnostics （34%） （31%） （14%） （10%） （11%） Emission Measurement Automatic Blood Cell Stack Gas Analyzers Mass Flow Controllers Raman Imaging
Slide 36: Global Network
Global Network Sales by region (as of Dec 2020) ● : Major business hubs Americas Europe Asia Japan 15% 21% 33% 31% Employee headcount by region (as of Dec 2020) Americas Europe Asia Japan 11% 33% 18% 38% Number of companies （as of Dec 31, 2020) 49 Overseas sales ratio （as of Dec 2020) 69% Foreign em
Slide 37: Achieving Sustainable Growth Through M&A
Achieving Sustainable Growth Through M&A Major M&As 1996 1997 2005 2015 2018 ABX （France） Jobin Yvon SCHENCK DTS MIRA （UK） FuelCon 【Medical】 （France） （Germany） 【Automotive】 （Germany） 【Scientific】 【Automotive】 【Automotive】 Trends in consolidated sales 187.0 billion yen Six-fold growth in corporate sc
Slide 38: HORIBA's Business Domain
HORIBA’s Business Domain Space Planetary probe Development Auroral analysis Agriculture New Material IT Infrastructure Health and Security Plant factory Development Semiconductor device IoT, Cloud, 5G Soil analysis Secondary battery Solar panels Automation informatics Food safety Biomaterial Petroch
Slide 39: © 2021 HORIBA, Ltd. All rights reserved.
© 2021 HORIBA, Ltd. All rights reserved. 39