Slide 1: FY2024 Financial Results
FY2024 Financial Results Ushio Inc. May 13, 2025 Note : This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. Copyright © 2025 Ushio Inc., All R
Slide 2: Highlights of Today's Presentation
Highlights of Today’s Presentation FY2024 Results: ・ While down year-on-year, revenues and earnings exceeded forecasts - Improved profitability by enhancing efficiency through strategic business selection - Investment deferrals owing to semiconductor market downturn hampered performance - Lifted for
Slide 3: I. Financial Results for FY2024
I. Financial Results for FY2024 II. Full-Year Forecasts for FY2025 III. Supplementary Information Copyright © 2025 Ushio Inc., All Rights Reserved 3
Slide 4: FY2024: Summary of Financial Results
FY2024: Summary of Financial Results YoY Comparison: -1.8 billion yen (-1.0%） Net Sales - Industrial Processes business: Revenues dropped on semiconductor 177.6 billion yen market downturn - Visual Imaging business: Weaker yen boosted revenues YoY Comparison: -4.1 billion yen (-32.0%) Operating Prof
Slide 5: FY2024: Financial Highlights
FY2024: Financial Highlights Comparison YoY Comparison (with forecasts) FY2023 FY2024 Forecasts Results Results (11/6/2024) Achievement Changes (％) Changes （Billions of yen) (%) Net Sales 179.4 177.6 -1.8 -1.0% 175.0 ＋2.6 101.5% Operating Profit 12.9 8.8 -4.1 -32.0% 7.5 ＋1.3 117.7% Operating Margin
Slide 6: FY2024: YoY Variation Analysis of Operating Profit
FY2024: YoY Variation Analysis of Operating Profit Although business portfolio revamp contributed to performance, earnings declined owing to lower revenues, higher forward investments, etc. , and valuation losses (Billions of yen) Valuation losses Impacts of associated with FOREX sales decline busin
Slide 7: FY2024: Financial Results by Business Segment
FY2024: Financial Results by Business Segment YoY comparison Comparison FY2023 FY2024 Forecasts (with forecasts) Results Results (11/6/2024) Achievement （Billions of yen) Changes (％) Changes (%) Industrial Net Sales 82.1 78.9 -3.1 -3.9% 80.0 -1.0 98.7% Processes Operating Profit 10.8 9.6 -1.2 -11.5%
Slide 8: FY2024: Industrial Processes Results
FY2024: Industrial Processes Results FY2023 FY2024 YoY Comparison ■Net Sales: down 3.1 billion yen YoY Results Results (Billions of yen) Changes (%) - A semiconductor market downturn prompted investment postponements, with equipment sales dropping ① Net Sales 82.1 78.9 -3.1 -3.9% - EUV-related maint
Slide 9: FY2024: Visual Imaging Results
FY2024: Visual Imaging Results YoY Comparison ■Net Sales: up 0.3 billion yen YoY FY2023 FY2024 Results Results (Billions of yen) Changes (%) - Despite fewer large deals than in previous term, revenues rose on weaker yen ① Net Sales 80.5 80.8 ＋0.3 ＋0.5% - Weaker yen supported higher revenues despite
Slide 10: FY2024: Life Sciences and Photonics Solutions Results
FY2024: Life Sciences and Photonics Solutions Results Life Sciences FY2023 FY2024 YoY Comparison ■Net Sales: up 0.8 billion yen YoY (Billions of yen) Results Results Changes (%) - Higher sales of sodium lamps for horticulture Net Sales 5.2 6.1 ＋0.8 ＋17.2% ■Operating Profit: up 1.2 billion yen YoY Op
Slide 11: II. Full-Year Forecasts for FY2025
I. Financial Results for FY2024 II. Full-Year Forecasts for FY2025 III. Supplementary Information Copyright © 2025 Ushio Inc., All Rights Reserved 11
Slide 12: Summary of FY2025 Full-Year Forecasts
Summary of FY2025 Full-Year Forecasts • Sales will probably decline amid ongoing weakness in semiconductor market (after excluding generative AI) and impact of higher yen *1: For details, please see the “Progress Report on New Growth Strategy Phase I” • Anticipating higher earnings on structural re
Slide 13: Business Impact of U.S. Tariffs
Business Impact of U.S. Tariffs Key risks and responses Risk 1: Additional tariffs on cinema and general imaging projectors exported to United States We manufacture around 80% of these projectors in China, exporting some to the United States. Response: Mitigate impact by lifting production ratio in
Slide 14: FY2025 Full-Year Forecasts: Summary
FY2025 Full-Year Forecasts: Summary FY2024 FY2025 YoY Comparison (Billions of yen) Results Forecasts Changes (%) Net Sales 177.6 170.0 -7.6 -4.3% Operating Profit 8.8 10.0 ＋1.1 ＋13.3% Operating Margin 5.0% 5.9% ＋0.9P - Ordinary Profit 12.4 10.5 -1.9 -15.7% Profit Attributable to Owners of Parent 6.
Slide 15: YoY Variation Analysis of Operating Profit for FY2025
YoY Variation Analysis of Operating Profit for FY2025 (Billions of yen) +3.7 -3.4 - Stepper DI lithography equipment +5.7 -1.3 + and DLT system -0.2 10.0 8.8 -1.3 Forex Others impact Decreased Forward -0.6 inventory investments -1.4 Cost containment effect +1.5 in DLT Decrease write-down losses syst
Slide 16: FY2025 Full-Year Forecasts: By Business Segments
FY2025 Full-Year Forecasts: By Business Segments FY2024 FY2025 YoY Comparison (Billions of yen) Results Forecasts Changes (%) Net Sales 78.9 76.0 -2.9 -3.7% Industrial Processes Operating Profit 9.6 6.5 -3.1 -32.5% [Operating Margin] [12.2%] [8.6%] [-3.6P] - Net Sales 80.8 76.0 -4.8 -6.1% Visual Im
Slide 17: FY2025 Full-Year Forecasts: Industrial Processes
FY2025 Full-Year Forecasts: Industrial Processes Net Sales Operating Profit ■Business environment assumptions While generative AI-related markets should grow, expecting only a 78.9 76.0 moderate recovery in overall semiconductor market, and will monitor impact of U.S. tariff measures on semiconducto
Slide 18: FY2025 Full-Year Forecasts: Visual Imaging
FY2025 Full-Year Forecasts: Visual Imaging Net Sales Operating Profit ■Business environment assumptions 80.8 While demand should remain firm, will monitor impacts of Chinese 76.0 economy and U.S. tariff measures Cinema market - Cinema operations and projector replacement demand should remain strong
Slide 19: Supplementary Information on Visual Imaging Business
Supplementary Information on Visual Imaging Business ■ Cinema Screen Numbers and Light Source Trend Forecasts Lamp Laser Total 250,000 200,000 150,000 100,000 50,000 0 CY2016 CY2017 CY2018 CY2019 CY2020 CY2021 CY2022 CY2023 CY2024 CY2025 CY2026 CY2027 CY2028 CY2029 CY2030 As of May 13, 2025, Ushio’s
Slide 20: FY2025 Full-Year Forecasts: Life Sciences and Photonics Solutions
FY2025 Full-Year Forecasts: Life Sciences and Photonics Solutions Life Sciences Net Sales Operating Profit ■Business environment assumptions 6.1 6.0 Demand should remain stable for medical equipment and other offerings ■Net Sales: down 0.1 billion yen YoY -1.0 -0.6 - Sales to be flat for environment
Slide 21: Shareholder Returns
Shareholder Returns Dividends (yen) Dividends payout ratio 【Dividend policy】 Generating stable returns 99.6 88.1 Will set dividend floor of ¥70 per share annually Dividends 56.3 51.4 for FY2024-FY2026 in line with New Growth Strategy 47.2 47.8 43.2 35.5 per Share 30.2 FY2025: ¥70 per share (plan) 70
Slide 22: III. Supplementary Information
I. Financial Results for FY2024 II. Full-Year Forecasts for FY2025 III. Supplementary Information Copyright © 2025 Ushio Inc., All Rights Reserved 22
Slide 23: (New) Business Segments and Main Products
(New) Business Segments and Main Products New Business Main Products Product Examples Segment Light Source: UV lamps, OA lamps, Optical equipment lamps, etc. Industrial Equipment: Processes Lithography equipment, Curing (Source: TNO) equipment, EUV light source for UV lamps OA lamps Stepper Direct i
Slide 24: Reference: Summary of Quarterly Financial Results
Reference: Summary of Quarterly Financial Results FY2023 FY2024 YoY Comparison (Billions of yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Changes (%) Net Sales 39.2 45.7 47.5 46.9 37.5 48.1 42.4 49.5 ＋2.6 ＋5.6% Operating Profit 2.0 2.9 5.2 2.7 0.3 3.9 3.1 1.4 -1.3 -48.3% Operating 5.2% 6.4% 11.0% 5.9% 0.9% 8.2% 7.4%
Slide 25: Reference: Quarterly Financial Results by Business Segments
Reference: Summary of Quarterly Financial Results by Business Segments FY2023 FY2024 YoY Comparison (Billions of yen) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Changes (%) Net Sales 17.4 20.3 22.5 21.7 15.5 22.0 17.0 24.3 ＋2.5 ＋11.7% Industrial Operating profit 2.2 1.7 4.0 2.8 1.0 4.1 1.8 2.5 -0.3 -11.2% Processes Op
Slide 26: Reference: Sales Ratio by Region
Reference: Sales Ratio by Region Others 0.6% FY2023 Japan North America Asia Europe Net Sales 22.6% 27.5% 40.8% 8.5% 179.4 billion yen FY2024 Net Sales Japan North America Asia Europe 177.6 22.8% 29.9% 37.6% 8.7% billion yen Others 1.0% Copyright © 2025 Ushio Inc., All Rights Reserved 26
Slide 27: Reference: R&D Expenses/Capital Expenditures and Depreciation
Reference: R&D Expenses/Capital Expenditures and Depreciation R&D Expenses（Billions of yen） Capital Expenditures (Billions of yen) Ratio of R&D Expenses to Net Sales (%) Depreciation (Billions of yen) 8.5 8.5 18.0 14.8 7.1 7.2 7.2 6.5 16.0 14.5 12.5 11.8 12.9 12.8 14.0 11.4 12.0 10.5 8.9 10.0 8.3 8.
Slide 28: Reference: Balance Sheet
Reference: Balance Sheet Assets Liabilities/Net Assets (Billions of yen) (Billions of yen) Changes Changes 337.5 337.5 -40.2 -40.2 297.3 21.6 297.3 65.6 37.6 -6.3 Notes and AP -4.3 15.2 Cash and Bank Deposits -1.4 Other Current Liabilities 61.3 41.3 36.1 39.7 4.1 +0.5 Notes and AR (Trade) +4.0 Long-
Slide 29: Reference: Cash Flow
Reference: Cash Flow (Billions of yen) 23.1 21.6 20.4 8.9 16.1 15.8 14.3 8.8 14.5 11.0 13.0 12.9 -0.3 5.3 2.7 0.7 0.8 FY2020 FY2021 FY2022 FY2023 FY2024 -0.7 -1.1 -3.4 -5.5 -10.6 -13.4 -24.9 -26.8 Operating Profit Sales CF Investment CF Financial CF Free CF Copyright © 2025 Ushio Inc., All Rights Re
Slide 30: Glossary
Glossary AI Artificial Intelligence DCP Digital Cinema Projector DI Direct Imaging: An exposure technique that draws patterns directly without using a mask DLT Digital Lithography Technology EUV Extreme Ultraviolet Radiation FPD Flat Panel Display OA Office Automation Advanced packaging An advanced
Slide 31: IR Website and Email Newsletter
IR Website and Email Newsletter The investor relations portal on our website presents an array of useful information. We invite you to register on the portal to stay up to date with statutory disclosures, announcements, and other content through our email newsletter. Visit our official website Recei
Slide 32: Disclaimer
<Disclaimer> This report contains forward-looking statements, including earnings forecasts, which are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Please be advised that actual results may differ substantially from those forward-looking
Slide 33: Contact: Investor Relations Office
Contact: Investor Relations Office Ushio Inc. Email: ir@ushio.co.jp https://www.ushio.co.jp/en/ir/ Copyright © 2025 Ushio Inc., All Rights Reserved 33