Marubun Corporation · TSE:7537
Marubun — FY2015 Earnings Presentation
43 slides from Marubun's earnings presentation, May 2015
Slide 1: Financial Results for Fiscal Year Ending March 31, 2015
Financial Results for Fiscal Year Ending March 31, 2015 May 2015 (Securities Code：7537 / TSE1st Section) Copyright © MARUBUN CORPORATION All Rights Reserved.
Slide 2: FY3/15 Summary of Consolidated Financial Results
FY3/15 Summary of Consolidated Financial Results Copyright © MARUBUN CORPORATION All Rights Reserved.
Slide 3: FY3/15 Summary of Consolidated Financial Results
FY3/15 Summary of Consolidated Financial Results Net sales increased by ¥19 billion (+7.6% YoY) Electronic Devices Business Increased 9.4% as a result of robust sales of Special-Use ICs for communication modules and other ICs for Projector, automobile and industrial equipment Electronic Systems Busi
Slide 4: FY3/15 Summary of Financial Results
FY3/15 Summary of Financial Results (\ million) FY3/14 FY3/15 YoY Changes FY3/15 Forecasts Composition Composition Actual Compositi Actual Amount ％ (Oct.2014) Ratio Ratio on Net sales 260,424 100.0% 280,320 100.0% 19,896 7.6% 263,000 100.0% Electronic Devices 220,325 84.6% 241,065 86.0% 20,740 9.4%
Slide 5: FY3/15 Electronic Devices Business Net Sales Breakdown by Product
FY3/15 Electronic Devices Business Net Sales Breakdown by Product （¥ million） 241,065 220,325 28,675 Electronic Components Decrease for digital steel cameras, TV and PC 35,725 14,608 Custom IC Increase in ICs for consumer electronics 11,688 Special-Use IC 108,348 Increase in ICs for communication mo
Slide 6: FY3/15 Electronic Devices Business Net Sales Breakdown by Product
FY3/15 Electronic Devices Business Net Sales Breakdown by Product Application Market Trend Communication Equipment Increase in ICs for communication modules and infrastructure Consumer Electronics Decrease in ICs for digital cameras and TV, increase for TVs and game consoles Computers & OA Equipment
Slide 7: FY3/15 Electronic Systems Business Net Sales Breakdown by Product
FY3/15 Electronic Systems Business Net Sales Breakdown by Product （¥ million） 40,098 39,254 Medical Equipment 17,251 14,582 Decrease in radiation therapy systems and Diagnostic Imaging Equipment Laser Equipment 3,822 4,099 Scientific Equipment 1,318 341 Increase in thin-film equipment for power semi
Slide 8: FY3/15 Factors Affecting Ordinary Income
FY3/15 Factors Affecting Ordinary Income Increase in Gross Profit Last fiscal year average in SG&A Expenses 59 Increase in （¥ million） foreign exchange losses Decrease in 718 (763) Non-operating Expenses 4,066 3,944 108 FY3/14 1 2 3 4 5 FY3/15 6 Increase of Net sales and increase by the positive eff
Slide 9: End FY3/15 Summary of Balance Sheets
End FY3/15 Summary of Balance Sheets (\ million) FY3/14 End FY3/15 End Changes in 12 m/s Actual Actual Amount Current assets 99,510 117,084 17,574 Cash and deposits 19,151 21,725 2,574 Notes and accounts receivable-trade 60,944 63,393 2,449 Inventories 16,931 28,987 12,056 Other 2,484 2,978 494 Incr
Slide 10: FY3/15 Summary of Statements of Cash Flows
FY3/15 Summary of Statements of Cash Flows (\ million) FY3/14 FY3/15 Actual Actual Net cash provided by (used in) operating 5,999 2,255 activities Income before income taxes 3,886 3,963 Decrease (increase) in notes and (10,445) (1,212) accounts receivable-trade 9,089 (11,629) Decrease (increase) in
Slide 11: Medium-Term Vision: Progress of Business Strategies and Key Initiatives
Medium-Term Vision Progress of Business Strategies and Key Initiatives Copyright © MARUBUN CORPORATION All Rights Reserved.
Slide 12: Summary of Medium-Term Vision
Summary of Medium-Term Vision Transforming into a robust company Vision that can realize sustainable growth Slogan Think & Action（Ｔ＆Ａ） View structural changes as an opportunity, accelerate management reforms, and conduct positive management to make a breakthrough Electronic Devices Electronic System
Slide 13: Electronic Devices: Expand fundamental business
Electric Devices Business: Four T & A (1) Expand fundamental business Supplier Customer Marubun Systematically manage sales activities with Build a technical support system the SFA* Step up FAE* and Measure the degree sales activities Shared strategy of achievement with Improve skills for KPIs* prop
Slide 14: Focus Markets
Electric Devices Business: Four T & A (2) Step up actions for growth markets Focus attention on IoT* - Develop original evaluation boards and present different solutions to Communications move the cultivation of the market forward. Focus Markets Step up efforts related to ADAS* and other （billion） E
Slide 15: Promote development of new products
Electric Devices Business: Four T & A (3) Promote development of new products Offering the latest technologies and products in form of solutions to at least 50 companies based mainly in the United States, Taiwan, and China conductor • OpenSilicon(ASIC) Semi- • Baysand(ASIC) ⇒ Full-scale launch • San
Slide 16: Enhance global operations
Electric Devices Business: Four T & A (4) Enhance global operations Further build up overseas support capabilities through the use of Arrow’s wide-ranging products, bases, and distribution data infrastructure Marubun/Arrow ９ countries, 23 bases Arrow Electronics 56 countries, 460 bases MARUBUN USA C
Slide 17: Electronic Systems Business: Three T&A
Electric Systems Business: Three T & A Customer-In concept Move ahead with differentiation by offering services and solutions that answer the varying needs of each individual customer Strengthen Enhance (1) engineering (2) system (3) Enrich product integration line-up services capabilities Customer
Slide 18: Electronic Systems: Efforts in different product categories
Electric Systems Business: Efforts in different product categories - Boost sales of embedded semiconductor lasers for industrial equipment Laser - Win more orders for original fine laser processing systems Equipment - Work to increase the number of cases in which the network monitoring systems, time
Slide 19: FY3/16 Summary of Consolidated Financial Forecasts
FY3/16 Summary of Consolidated Financial Forecasts Copyright © MARUBUN CORPORATION All Rights Reserved.
Slide 20: FY3/16 Summary of Financial Forecasts
FY3/16 Summary of Financial Forecasts Net sales expected ¥270 billion (-3.7% YoY) Electronic Devices Business Increase in ICs for automobile , industrial equipment and telecommunications infrastructure , decrease in ICs for communication modules and PC Electronic Systems Business Increase in medical
Slide 21: FY3/16 Financial Forecasts
FY3/16 Financial Forecasts (\ million) FY3/15 FY3/16 YoY Changes Composition Composition Actual Ratio Forcast Amount ％ Ratio Net sales 280,320 100.0% 270,000 100.0% (10,320) -3.7% Electronic Devices 241,065 86.0% 225,000 83.3% (16,065) -6.7% Electronic Systems 39,254 14.0% 45,000 16.7% 5,746 14.6% G
Slide 22: FY3/16 Electronic Devices Net Sales Forecasts by Product
FY3/16 Electronic Devices Business Net Sales Forecasts by Product (million) 241,065 225,000 28,675 Electronic Components Increase in Conector,PCB,E-paper 33,722 14,608 Custom IC 11,178 Decrease in ICs for consumer electronics 108,348 Special-Use IC 92,459 Decrease in ICs for communication modules 18
Slide 23: FY3/16 Electronic Systems Net Sales Forecasts by Product
FY3/16 Electronic Systems Business Net Sales Forecasts by Product 45,000 (million) 39,254 Medical Equipment 19,389 Increase in diagnostic imaging equipment and inclusion a consolidated subsidiary 14,582 Laser Equipment 4,196 Increase in marking laser 3,822 1,318 1,437 Scientific Equipment Increase i
Slide 24: FY3/16 Factors Affecting Ordinary Income (Forecasts)
FY3/16 Factors Affecting Ordinary Income (Forcasts) Increase in Decrease in foreign exchange （¥ million） SG&A Expenses losses Decrease in Non- Increase in Gross Profit operating Income (330) 4,500 903 440 (579) 4,066 FY 3/15 1 2 3 4 5 FY 3/16 6 Actual Forcast Improvement of gross profit margin ratio
Slide 25: Return to Shareholders
Return to Shareholders Change in a dividend policy The greater, 25% or more(consolidated) Dividend or 30% or more(non-consolidated) Payout Ratio 30% or more(consolidated) Dividends Forecast FY 3/16 （\） FY 3/15 （Forcasts） Annual Dividend per Share 20.00 30.00 ¥10 Interim Dividend 7.00 12.00 UP Year-E
Slide 26: Appendix
Appendix Copyright © MARUBUN CORPORATION All Rights Reserved.
Slide 27: Corporate Outline
Corporate Outline Net Sales Establishment July 1947 Electronic Devices 86.0% Electronic Systems 14.0% Capital ¥6,214 million Activities Distribution of Cutting-edge Electronics Products FY3/15 Results Headquarters Chuo-ku, Tokyo by Segment Consolidated 280,320 million yen(FY3/15) Net Sales Numbers o
Slide 28: History of Company Operations
History of Company Operations Japan Over Seas 2013 2014 Business acquisition Hokushin Rika. Established subsidiary in Indonesia and Mexico. 2013 2007 Established subsidiary in Shenzhen, China. Business acquisition of Foresight Techno Co.,Ltd. 2005 2006 Established Marubun Semicon Corporation Establi
Slide 29: Trend of 10 years
Trend of 10 years （¥ million） Net Sales Foreign Sales Ratio 300,000 60.0% 250,000 50.0% 200,000 40.0% 150,000 30.0% 100,000 20.0% 50,000 10.0% 0 0.0% FY3/05 FY3/06 FY3/07 FY3/08 FY3/09 FY3/10 FY3/11 FY3/12 FY3/13 FY3/14 FY3/15 29 Copyright © MARUBUN CORPORATION All Rights Reserved.
Slide 30: Domestic Offices
Domestic Offices Operations IKEDA IRYOUDENNKI CO., LTD Branch (Head Office:Niigata) Sales Office MARUBUN TSUSHO CO., LTD.(Head Office:Kanazawa) Kanazawa Nanao Logistics Center Toyama Hakusan Center Affiliated Company Fukui Tokyo Matsumoto Kofu HOKUSHIN RIKA Nagano (Head Office:Nagano) Omiya Matsumot
Slide 31: World-wide Sales Network
World-wide Sales Network Marubun/Arrow (Shanghai) Co., Ltd （Shanghai） Marubun USA Corporation Chicago Nanjing,China Marubun/Arrow USA, LLC Dalian,China (Head Office：Santa Clara) Denver Detroit Marubun Corporation Reno Marubun/Arrow (Shenzhen) Electronic Products Consulting Co., Ltd. (Shenzhen,China)
Slide 32: Characteristic and Strength - Electronic Devices
Characteristic and Strength -Electronic Devices- Electronic Devices Wide Range of Products made by Leading Semiconductor Manufacturers Global Sales Network in alliance with Arrow Electronics, Inc. Broad Customer base. Broad Product Lineup Design Activity Marketing Order Order Customer Supplier Our F
Slide 33: Affiliations - Electronic Devices
Affiliations -Electronic Devices- Company Headquarters Establishment Shares Principal Business Electronic Devices Marubun Semicon Corporation Minato-ku, Tokyo Mar. 2005 100.0% Marubun Semicon (Shanghai) Co., Ltd. Shanghai, China Mar. 2005 100.0% Devices Business Marubun Semicon (H.K.) Ltd. Hong Kong
Slide 34: Main Products (by Application) - Electronic Devices
Main Products (by Application) -Electronic Devices- Application Electronic Devices Computer & OA Communication Automobile Equipment Equipment Equipment Consumer Industrial Industrial Equipment & Semiconductor Other Analog Analog IC ● ● ● ● ● Automobile 8.8% Discrete ● ● ● ● Standard Logic IC 9.6% ●
Slide 35: Main Products (by Supplier) - Electronic Devices
Main Products(by Supplier) -Electronic Devices- Supplier Electronic Devices Microdevices Instruments Seiko Epson International Asahi Kasei Broadcom Freescale Samsung Rectifier Triquint Maxim Texas Molex ISSI Semiconductor Analog Analog IC ● ● ● ● ● Discrete ● ● Standard Logic IC ● DRAM Memory IC ● ●
Slide 36: Characteristic and Strength - Electronic Systems
Characteristic and Strength -Electronic Systems- Electronic Systems Providing Unrivaled Products in High-end Markets Value-added Technical Support (System Integration, Installation and Maintenance Services) Our Function Marketing Consultation Order Order Technical support Customer Supplier Operation
Slide 37: Affiliations - Electronic Systems
Affiliations -Electronic Systems- Electronic Systems Company Headquarters Establishment Shares Principal Business Marubun Tsusho Co.,Ltd. Kanazawa, Ishikawa Mar. 1961 100.0% Systems Business Hokushinrika Nagano, Nagano Nov. 1951 100.0% Systems Business Ikeda iryoudenki Co.,Ltd. * Niigata, Niigata Au
Slide 38: Main Products - Electronic Systems
Main Products -Electronic Systems- Electronic Systems Segment Main Products Major Supplier High-reliability Components, Tele Communication Systems、 Space and Space and Sensors Plascore,Lavision Defense Defense Avionics Test System, Electronics CPI,L3 Communications Electronics Microwave Equipment Me
Slide 39: Trend in Net Sales/Gross Profit/SG&A expenses
Trend in Net Sales/Gross Profit/SG&A expenses Net Sales Gross Profit margin SG&A expenses SGA ratio 4,005 20.0% （¥million） （¥million） 3,969 81,617 75,511 3,635 3,638 3,651 3,601 3,636 3,664 72,976 68,073 68,913 63,576 55,796 54,276 10.0% 7.9% 7.6% 7.0% 7.1% 6.8% 6.9% 6.9% 6.4% 6.6% 5.3% 5.5% 4.9% 4.
Slide 40: Trend in Orders/Sales
Trend in Orders/Sales Orders Sales Electronic Devices Electronic Systems Electronic Devices Electronic Systems 82,721 81,617 （¥million） 79,256 75,511 72,976 12,344 13,991 69,478 （¥million） 68,073 68,913 69,089 12,847 9,561 65,246 64,644 66,371 63,576 62,802 16,638 9,061 7,829 9,035 9,799 10,673 10,3
Slide 41: Trend in Sales of Electronic Devices by Products
Trend in Sales of Electronic Devices by Products 67,626 65,950 （¥million） 59,852 7,234 59,038 56,337 7,974 Electronic 54,399 2,742 50,550 7,929 2,687 Components 11,082 47,636 Custom IC 9,196 8,482 4,385 6,966 2,803 3,290 5,538 3,431 Special-Use IC 2,163 29,220 4,795 31,801 19,434 Micro-Processor 24,
Slide 42: Trend in Sales of Electronic Systems
Trend in Sales of Electronic Systems 16,638 Medical Equipment 13,991 7,653 Laser （¥million） Equipment 5,291 9,561 9,177 9,035 9,061 Scientific 1,628 Equipment 1,583 6,640 3,161 3,912 3,881 3,635 164 494 5,246 Measurement & 2,218 893 762 984 805 98 324 Inspection 60 5,087 2,082 73 584 4,784 402 Equip
Slide 43: Cautionary Statement
Cautionary Statement 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. Actual performance depends on various important factors and may differ signific