Hamamatsu Photonics K.k. · TSE:6965

Hamamatsu Photonics K.k — Q2 FY2024 Earnings Presentation

40 slides from Hamamatsu Photonics K.k's earnings presentation, May 2024

  1. Slide 1: Fiscal Year ending September 30, 2024 Second Quarter Report

    Fiscal Year ending September 30, 2024 Second Quarter Report Hamamatsu Photonics K.K. Tokyo Stock Exchange : 6965 May 2024 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 1

  2. Slide 2: 1H FY2024 Results and FY2024 Full Year Forecast

    1H FY2024 Results and FY2024 Full Year Forecast 1H FY2024 Results ◼ Sales 103.9 billion yen (YoY : -7.6 billion yen, vs. plan : -7.5 billion yen) Decrease in special demand related to corona, and decrease in orders due to backlash from customer’s order that exceeded actual demand against backdrop of

  3. Slide 3: Summary of results, Earning forecast, TOPICS

    1. Summary of results 2. Earning forecast 3. TOPICS 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 3

  4. Slide 4: 1. Summary of results

    1. Summary of results 2. Earning forecast 3. TOPICS 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 4

  5. Slide 5: Summary of 1H FY2024 Financial results

    Summary of 1H FY2024 Financial results Decrease in sales and profit both YoY and vs.plan Decline in profit margin due to lower sale (Unit : billion yen) 1H FY2023 1H FY2024 1H FY2024 YoY vs. plan (Actual) (Plan) (Actual) Change % Change % Sales 111.6 111.5 103.9 -7.6 -6.8 -7.5 -6.7 Gross profit 62.1

  6. Slide 6: Operating profit variation Analysis 1H FY2023-2024

    Operating profit variation Analysis 1H FY2023-2024 ＄:136.97→148.23 Without impact of currency fluctuations € :143.23→160.16 Amount due RMB:20.02→20.19 to change in -5.8 gross margin (change in product mix, inventory fluctuations, increase in fixed fee ratio) Decrease in Increase of SG & A *Impact of

  7. Slide 7: Sales by application

    Sales by application (Unit : billion yen) 1H FY2023 1H FY2024 1H FY2024 YoY vs. plan (Actual) (Plan) (Actual) Change ％ Change ％ Medical-bio instrument 40.9 38.6 33.7 -7.2 -17.6 -4.9 -12.7 Industrial instrument 38.5 37.8 34.9 -3.6 -9.4 -2.9 -7.7 Analytical instrument 11.3 11.4 10.0 -1.3 -11.5 -1.4 -1

  8. Slide 8: Sales by application (Medical-bio instrument)

    Sales by application（Medical-bio instrument） (Unit : billion yen) 1H FY2023 1H FY2024 1H FY2024 YoY vs. plan (Actual) (Plan) (Actual) Change ％ Change ％ Radiographic testing 27.1 24.0 21.0 -6.1 -22.5 -3.0 -12.5 Laboratory testing 12.2 12.2 10.5 -1.7 -13.9 -1.7 -13.9 Medical-bio instrument 40.9 38.6 3

  9. Slide 9: Sales by application (Industrial instrument)

    Sales by application（Industrial instrument） (Unit : billion yen) 1H FY2023 1H FY2024 1H FY2024 YoY vs. plan (Actual) (Plan) (Actual) Change ％ Change ％ Semiconductor instrument 22.6 20.1 21.3 -1.3 -5.8 1.2 6.0 Non destructive testing 10.4 12.3 9.3 -1.1 -10.6 -3.0 -24.4 Factory automation 4.0 4.0 3.1

  10. Slide 10: Sales by application (Analytical instrument and Academic research)

    Sales by application（Analytical instrument and Academic research） (Unit : billion yen) 1H FY2023 1H FY2024 1H FY2024 YoY vs. plan (Actual) (Plan) (Actual) Change ％ Change ％ Analytical instrument 11.3 11.4 10.0 -1.3 -11.5 -1.4 -12.3 Analytical ◼ For Liquid chromatography systems (YoY : -0.8) instrume

  11. Slide 11: Sales by application (Measuring instrument and Transport instrument)

    Sales by application（Measuring instrument and Transport instrument） (Unit : billion yen) 1H FY2023 1H FY2024 1H FY2024 YoY vs. plan (Actual) (Plan) (Actual) Change ％ Change ％ Measuring instrument 4.8 5.1 5.6 0.8 16.7 0.5 9.8 Measuring ◼ For Geological exploration(YoY : +0.8) instrument Despite geopo

  12. Slide 12: Sales by Region

    Sales by Region 2023年度 上期 1H FY2023 2021年9月期 2024年度 2022年9月期 1H上期 上期 FY2024 North Europe North Europe America America 21.5% 21.5% 26.6% 26.3% Asia Asia Japan Japan 27.8% 23.9% 29.4% 22.6% （単位：百万円） (Unit : billion yen) （単位：百万円） Europe Asia (of which China) Japan North America 1H FY2023 24.0 31.0 (20.

  13. Slide 13: 2. Earning forecast

    1. Summary of results 2. Earning forecast 3. TOPICS 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 13

  14. Slide 14: Earning forecast

    Earning forecast Full-year forecast is revised downward due to prolonged and diverse effects of decline in orders received as a backlash from customer’s advance order. Recovery is expected to be delayed until FY2025 or later. (Unit : billion yen) FY2023 FY2024 FY2024 YoY vs. plan (Actual) (Plan) (Fo

  15. Slide 15: Operating profit variation Analysis FY2023-FY2024

    Operating profit variation Analysis FY2023-FY2024 Without impact of currency fluctuations Amount due to ＄:139.03→146.62 change in gross € :148.38→157.58 -8.1 margin (change in product mix, RMB:19.74→20.35 inventory fluctuations, increase in fixed fee ratio) Decrease in 56.6 gross profit due -9.3 to

  16. Slide 16: Sales by application

    Sales by application Orders continue to decline in many industries due to backlash from customer’s advance orders There has been no significant change of our position in key industries, and we expect to return to growth path in FY2025 as inventory excesses are resolved and market recovers. (Unit : b

  17. Slide 17: For X-ray CT (Typical trend of major customer)

    For X-ray CT (Typical trend of major customer) For X-ray CT From 2021 Shipment could not keep up with rapid increase in demand for X-ray CT at Corona pandemic and continued to increase production. From 2022 to 2023 In complete turnaround, excess inventory due to declining customer demand after Coron

  18. Slide 18: For Dental (Typical trend of major customer)

    For Dental（Typical trend of major customer） For Dental From 2021 Production falls below demand due to shortages of electronic components and other materials. From 2022 to 2023 We continued to increase production by responding to past customer requests for shipments, but excess inventory at customers

  19. Slide 19: For Semiconductor instrument (Typical trend of major customer)

    For Semiconductor instrument（Typical trend of major customer） For Semiconductor instrument Provides high market share products for From 2021 to 2023 major semiconductor manufacturing and Production could not keep up with demand and we continued to increase it. inspection equipments From 2023 We cont

  20. Slide 20: Semiconductor Market Driven by AI

    Semiconductor Market Driven by AI Generative AI chips includes GPU and HBM (high- bandwidth, high-capacity, high-speed special memory) Generative AI market will expand at a rate of CAGR about 50% over the 10 years. HBM HBM Logic (US$M) GENERATIVE AI MARKET Interposer 160,000 Fine-pitch Substrate 140

  21. Slide 21: Capital investment/Depreciation/R&D expenses

    Capital investment/Depreciation/R&D expenses (Unit : billion yen) Capital investment and R&D expenses and ratio of Depreciation R&D expense to sales 50.0 20 7.0% 6.7％ 45.0 43.1 18 6.4％ 40.6 5.6％ 6.0% 40.0 16 15.0 35.0 14 31.1 13.6 5.0% 30.0 12.3 12 25.0 10 4.0% 20.0 17.7 17.1 8 15.0 14.7 3.0% 6 10.0

  22. Slide 22: Action to Implement Management Conscious of Cost of Capital and Stock Price

    Action to Implement Management that is Conscious of Cost of Capital and Stock Price Stock split ◼ Purpose of Stock split To improve liquidity and expand investor base by reducing amount per investment unit through stock split and creating friendly environment to investment ◼ Details of Stock split T

  23. Slide 23: Action to Implement Management Conscious of Cost of Capital and Stock Price

    Action to Implement Management that is Conscious of Cost of Capital and Stock Price Response to request from Tokyo Stock Exchange ◼ March 28 Disclosure of responses to achieve cost of capital and stock price conscious management Considerations for next Mid- term plan (November, 2024) ◼ Growth strate

  24. Slide 24: 3. TOPICS

    1. Summary of results 2. Earning forecast 3. TOPICS 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 24

  25. Slide 25: Creating synergies through collaboration

    TOPICS Creating synergies through collaboration Creation of new Value-added technologies and Initiatives growth businesses 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 25

  26. Slide 26: Value-added Initiatives

    TOPICS Value-added Initiatives 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 26

  27. Slide 27: Promotion of high value-added custom module business

    Creating synergies through business divisions collaboration ～Establishment of new business～ Promotion of high value-added custom module business ✓ Collaboration of in-house elemental technologies ✓ High value-added custom products in line with customer requirements ✓ Building new businesses across s

  28. Slide 28: Newly established X-ray business strategy office

    Creating synergies through business divisions collaboration ～Strengthening Core Competence～ Newly established X-ray business strategy office (May 1) ✓ Launched as new cross-divisional organization (personnel selected from each segment) ✓ Proposal for development of new high value-added products by c

  29. Slide 29: Creation of new technologies and growth businesses

    TOPICS Creation of new technologies and growth businesses 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 29

  30. Slide 30: Business Composition (Components)

    Business Composition (Components) Photomultiplier tube Silicon Opto- Compound Opto- semiconductors semiconductors Electron Tube Segment 80billion yen scale Optical Opto-semiconductor sensors Segment 100billion yen scale Laser Segment 5billion yen scale Light emitters Vacuum tube light LED Light Sour

  31. Slide 31: Collaboration with the Central Research Laboratory

    Creation of new technologies and growth businesses ～Collaboration with the Central Research Laboratory～ Business divisions collaboration Custom module business Semiconductor Core technology Quantum Imaging Divisions Opto- semiconductor Electron Laser light tube source Laser Processing Nanophotonics

  32. Slide 32: Creation of growth businesses

    Creation of growth businesses ✓ Contribution to production of 3D advanced ✓ Supplying key components semiconductor chips for generative AI ✓ Accelerating practical application ✓ Providing new measurement and failure analysis methods Semiconductor Quantum CAGR 10％ CAGR 30％ Source：Semiconductor Manufa

  33. Slide 33: Creation growth businesses: Quantum

    Creation growth businesses＜Quantum＞ ✓ Supplying key components Quantum computer ✓ Accelerating practical application ＜Neutral atom main technologies＞ Optical phase modulator LCOS-SLM Quantum Qubit detection camera ORCA-Quest CAGR 30％ Source：Quantum Photonics Market - Forecast to 2030,MarketsandMarke

  34. Slide 34: Creation of growth businesses: Semiconductor

    Creation of growth businesses＜Semiconductor＞ ✓ Contribution to Production of 3D advanced semiconductor chips for generative AI ✓ Providing new measurement and failure analysis methods Semiconductor Production Technology Stealth dicing SD Semiconductor In-plane film thickness gauge Ultra-high D-range

  35. Slide 35: Creation of growth businesses: Spectrum/Analysis

    Creation of growth businesses＜Spectrum・Analysis＞ ✓ Providing innovative new devices ✓ Providing new measurement THz Spectroscopy methods THz PMT・THz II Normal temperature operation THz Light source Spectroscopy・Analysis CAGR 6％ Source：Life Science Instrumentation Market - Forecast to 2028,Marketsand

  36. Slide 36: Creation of growth businesses: Bio

    Creation of growth businesses＜Bio＞ Cloud-based service offerings ✓ From selling products to selling services From selling products to selling services ✓ Providing cloud-based analysis Ensuring continuous sales technology Ensuring high profit margins Bio CAGR 8％ Source：Cell Based Assays Market - Fore

  37. Slide 37: Notice of Progress of Disclosure Matters

    (Progress of disclosure) Acquisition of shares in NKT Photonics A/S, Denmark by a consolidated subsidiary (conversion to a subsidiary) Notice of Progress of Disclosure Matters 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 37

  38. Slide 38: Acquisition of shares in NKT Photonics A/S, Denmark

    (Progress of disclosure) Acquisition of shares in NKT Photonics A/S, Denmark by a consolidated subsidiary (conversion to a subsidiary) Based on the Board of Directors meeting held on June 9, 2022, the Company concluded a share transfer agreement on June 24, 2022, that its consolidated subsidiary Pho

  39. Slide 39: Acquisition of shares in NKT Photonics A/S, Denmark

    (Progress of disclosure) Acquisition of shares in NKT Photonics A/S, Denmark by a consolidated subsidiary (conversion to a subsidiary) 【Date of the business combination】 During the third quarter of this fiscal year (Planned) 【Acquisition cost of the acquiree and breakdown thereof by consideration ty

  40. Slide 40: 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.

    🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 40

Hamamatsu Photonics K.K. — Q2 FY2024 Earnings Presentation on 6ix