Enomoto Co., Ltd. · TSE:6928
Enomoto — FY2021 Earnings Presentation
45 slides from Enomoto's earnings presentation, May 2021
Slide 1: FY2021 Results Presentation (March 2021 fiscal year)
20215F3 AFA (202044518 ~ 2021431318) AR RAR Sat Blan Rak—ab sr3zI—F:6928
Slide 2: NN ENOMG6TO Co.Ltd.
NN ENOMG6TO Co.Ltd. 1. Boe P.3 2. The P.9 3. FR RA P.14 4. 2021%3ARF P.20 5. PRESS P.29 6. 20223 ARRAS P.41 ENOMOTO
Slide 3: Company overview
BHR SxxetL/Er © ENOMOTO
Slide 4: Company overview and net sales trend
Se HeTENS ENOMGTO Co,Ltd. + 2015S. AV—-hIAVAITIARIY, 4SAAU—-RIL—-LOWPR TC, scLmld23 OB ASEOACEN + EURICMNA CT. HARBOR VREYF IRI IRMOPRC, BRAG 1 SR ABOAEN soli: SMOKE (BAF) mmm 5 0 FES 82) 24,000 90.104 22,647 22,999 3,600 20,000 3,000 16,000 2,400 12,000 1,800 8,000 1,200 4,000 600 0 Co) (600) 2010/
Slide 5: Sales breakdown by business
CAIXY ha (2021563 ABA) ENOMETO Co.,Ltd. * U-RIL—A CS RAITe FICE TORO Rada + DRIOGMiMCLAV—-hIAYPCILP DI Ii ART ORE YF, (RS MPR EO IC-KSYYAZSRU-RIL—-L SLs 68855 ats 7,287s5q Hinett, 3.0% Hone 31.7% rls IRIS 22,99985R (2021/38) gts 12,384a55 Hpeet 53.8% RA Ett ADPKAU-RIL—-L ats 2,639858 tipkett 11.5% 7
Slide 6: Group overview
thie Ase_biSs (20213 AFA) ENOMETO Co.,Ltd. + Hoalac PEISAAM4A7%, PLP SHICBAD5S 3% + DERE? IT CORRE alma BR OLEMRAICH, PUP CORREA OFT CHI (RICE Hota allsc bk etes 202153 AHR aR) 25,000 "BAR DUD =shR =< eOthror ZO 20,000 15,000 2% ot 16% aes) 11% 5,000 2011/3348 2013/358 2015/3348 2017/3348 2019/3348
Slide 7: Business description
thw PEMA CO tE+ em (AA) ENOM6TO Co. Ltd. © AVhIAYPCILP ST iw AO AMICI S SED. FL SB REYFIARIIOLEAEA SSSR, OH MORAAIS3 1a HTA20214F11 A RPE * U-RIL—-AINI-+SARIOCRBE BBM han +E eel oe ZBL f =2t+2a8 AV-hIAY DLP ST ieAIFIAZII ari =E¢ERE SRATSHBR AN-hIAVEITIARIY At (ESR) =E+ERA ATHAU-RIL—L UL —Bbaa AALS H
Slide 8: Group companies and sites
thw PREM OES eB He) ENOM6TO Co,Ltd. © PTs (AB) Clk, U-RILV—-APIRII Ria e, BREN S PL AML: Ky - tH IRIS OMAIT KCB, HIME ARP BMLRIT CARS » DAVEY Cd, ECIRI Va e, RBSYEDS PLAML: Xy+ -tHMAZE C-AE, EICARORMT DT BLT CARs Boel TEMS Re ENOMOTO HONG KONG Co.,Ltd ZHONGSHAN ENOMOTO Co.,Ltd. EE¢ERA IC-hoVYAZSRU-R
Slide 9: Market environment
2. hii SxxetL/Er © ENOMOTO
Slide 10: Business domain and market expansion
HATSU—-RIL—L:- IRI ENOMGTO Co.Ltd. + MO ITVLAESEIC LY, MM LA MO EDNSML Ama RN, Hala + 2020 ER-—SPIIVAIVATP Ria CMULAMR—Y FIV ROTO A ONS BTULIN—9 FILS M-IPIVAIVAT 7? es Koy JAP At PiRy ILP III iimAR STFLYRPC AV-hIAY 1 4 Vv ‘ x uw 1 MI Ne Ni X% jsirea INYAYD BaETVE HEV: EV | 2000~ | 2010~ | 2020~
Slide 11: Market size trend
J—RIL-AABOH ENOM6TO Co. Ltd. + NDFEB ET 1 RIV—hOPRICFEL. U-RIL—-LHRORRE Li < © DIPLARUT 14 VIBAOU-KIL—LAEAM + FAA U—-RIL—-LOPFO-NIVYLP [dH5 % CHRO LL HEA U— RIL LOE HES (Aa) en NE OES ($M) 1,936 2,000 250,000 , 1,904 1,900 1,873 1,840 1,790 1,806 196,500 1,800 200,000 191,500 180.600 182,400 186,000
Slide 12: Semiconductor market size
F4ARZD'J—PEBACATPELLIFOLWIAAR ENOMGTO Co.Ltd. * FIAIV—-FEAPELIVIFOLIAHAIEMED AIAENS + INDRA CHEV PS GE. F-IRUI-FICSREAET CRE PEROT 14 ADI—bHSRCA PELL IFOLI AROS ($M) > W— . Tl o= 90,000 FAAI—bh eAThILIRORIA " SELMER AES .A% ee 34 75,841 75,000 69,920 72,828 62,134 S482 64.074 60,000 56,464 50,038 91
Slide 13: Market trend
AAII TBO BHA ENOMETD Co.,Ltd. + PAOIRI IHS ARAD GN TWS + 20207 UISBRAII OM maa OWIY. AV—hI4 VO RMPRAEIEP ILPIIWVETNAAZDIAVLAA THRE S| IDRIS HTT UROUES CRETE (fF3) 100,000 FEI RR E6.1% 90,000 85,913 80,707 80,000 76,210 71,181 70,000 66,462 61,319 63,993 63,865 60,000 53.775 54,670 56698 50,000 40,00
Slide 14: Strengths
3.FF ER aD SxxetL/Er © ENOMOTO
Slide 15: Strengths overview
TSIERKODREA ENOM6TO Co.,Ltd. + Bet Omeld, SRCHEORAMLRMNCABEES RCT SLERMA + Tal RSH LEA BEE SSE XR CUCOU-E ARDY ay CRE ICRA CRE mone ABT AHERAS Se CHeORAaMLRHA REE ETS BAS COR mEOLE AG! MUACLTOY-EAKY Yay
Slide 16: Technology strengths
| BAST AeRASRaM FRiiiT ENOM6TO Co.,Ltd. + Hd ChHOSRL ORE - HH. TUAMLORMEAD LL, FEICRHE + AV-hIAZVAITBEDREYF IRI, NI—FSABU-RIL-LOMBMLICARA + REvFIARIY, NI—4 SAR —-RKIL-LEABEE C3 SRRIDRSN, SHADED @ =: ZEIGLER | BEIOELEREARORD, MECHAM @ Mamet Sete BCS LEM LENOIR Sere ey FUREY FRAIL ASME IE CRE vauie en
Slide 17: Product strengths
moO Soe ASte sale rzsterRiinv ENOMG6TO Co. Ltd. » RS REYF IRI, NI—SSARU-RILD-LEABLEE + BL BREHT LOOSHSUE, SEICMASRIBSI1 SUT CORMKUTT ARH IRDI J-RIL—-A mm) (KE RCY FBIAD DAPLARIT AVIAN Bek Bemtth NIRS ARU—-KIL—-L > REYF (mm)
Slide 18: Customer-related strengths
aes BAN CORMEBOLEAG ENOMG6TO Co. Ltd. > Antex —D—-O Linge, BAERO GRICMIOL, FE I1UED COREE + BHR SPUAML: Xy + - BRAK CO-BEE ETO CWUSRMY SURES + Ph Cran oan Bt Ls CRE CESCEMNS, ebm PRIS SOs Laie JIVE VF BHtOT Lees (BAR) aA, ND—ASSHARU-RILD—L (BAR) aA, NISHA RIL 6,000 6,000 4,933 5,041 5,000 5,000 4,70
Slide 19: Production strengths
RA IRURELCTOV-ERZRVDV ay ENOM6TO Co.,Ltd. + Binx—D—-IdRM MR, BRM UTRICD CE, ENENT-ERZMI YAU RRS + IRIE CHS BANK, BERD SHae MCR CS, MAS Baez AOY bh CLE 4HOY-EARVUAayY 7’ Ls RI! RH i ¢ » x i | 1 DyhatKe< eer 1 ! 1 SRRMLIC RICE | H | IRRIEDRL AJL | ! — | Doorn no nnenc scence cc sccs "1 ger -eeamcecmnc
Slide 20: FY2021 results
4.20213 AHRA SxxetL/Er © ENOMOTO
Slide 21: FY2021 results summary (1/2)
20215 FSAHAE Seis (1/2) ENOMG6TO Co.,Ltd. * TIMMEOAWRMmORVAPA SS LIS, HAAS SL. MAC MME RICKS TLBAUBOKES CUBR eR : PLRRAE SBMst LLECCD SEA Hise L, SHAM lels 63 Vibes am | am | “wo Go TL 22,647 100.0 22,999 100.0 +1.6 - ren 3503 59| 3815 166) 462407 cen | 22340st« |e os| #08 =A Bela 1,358 6.0 1,563 6.
Slide 22: FY2021 results summary (2/2)
202173AHAS Stat h (2/2) ENOMGTO Co,Ltd. + LRISIOFIC LS BREE GRAY OMESE RT cob Ame bie * 3QURIABRBTEORERD. AV-hIAY-ILP STI imAR OSTA KY, HEURES SSC 407: BAA 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Ls 5,531 5,570 5,718 5,826 5,113 5,351 6,296 6,238 rene | s37 m43.—=o20.~=S9a | 8077371227 1,088 con | 530 543, «=««533.
Slide 23: FY2021 results by segment
202153 AM Baral ls ENOMBIO Co.Ltd * IC-hSYYAIRU—-RIL—AlS, BARAT LH RLECOO, FHLB CO mm BOR < BIC BR + APFRU-RIL—Ald, BRAT. ABT 1 ATLIAMITN3QE CHHLEEONO4QIC HB + DRISHRaaIk, AVY-hIAY-ILPDTPIVAITOUPR. 4AQESHMABONE PD CHV, BACHE #7: BAA 1a 2a 3a 4Q aR 1a 2a 3a 4Q SBT fehavo7oR | 1,802 1868 1,807 1,917 7
Slide 24: Operating profit trend
202173AH tlm nee ENOMG6TO Co. Ltd. > STROBE SAMICK SME Cot LRA REO + BSROMMes SeRASt LUZ AIRE AIC HUD : EAA HN etma HORE C, ABZIROM (BAF) 1,800 1,700 222 18 24 1,600 Pec RU 1,500 BEE OeA BRURRO > 1,400 FLIED 1,300 s800 1.200 1,100 aay FR: 16 7B BABA 1,000 SS 900 800 2 2 av a so Laehlas Res BaUNEE eA
Slide 25: Gross margin by segment
202153A88 Fes Sense lL tepkle ENOMG6TO Co. Ltd. * IIPS iHARAT Ose LAD BIEL 7 0.6 SNL, SoS LA HE 29.0% + HEPRLEILATD3 1.0% 1S 2.0ptt F + LHS Bt EGR OMe e SIT PBLEECOO, FRAILRIS ERS CHEB RE -ER- TO 31.0% + HEPRLEISRRBD3 2.4%251.4 pte F F—9RVI—PY—N—-CVND ERE BERET RAN ERRO Ride ILPITII 5.3% + HRECIAATE
Slide 26: Capital expenditure and depreciation
aimix es ih (sees ENOMGTO Co,Ltd. + DROSS OLE RETIN LONSELEAORBIC EY RRA + PETE OMRORTLSL2021F 1 1 REPEL THY, PUMA ASH axl tae OHS RUMEN OHS "IC hSVUASRU-RIL—L sATKAU-RIL—A (a5R) "DROS RB =e (aR) 2,400 2,173 2,000 2,000 > ; 1,851 1,635 1,706 1,600 1472 — 1,600 kn 151 1,200 1,145 73 983 1,200 043 +19
Slide 27: Balance sheet
202153AHA Bawa ENOMG6TO Co. Ltd. » HNIC KUSH ABM, C SIC IRD Sem S OER 4VAREEREDM + BCAA ISHHI64.4%0565.5%X, 1.1pthF RAE 13,303 14,143 +839 ame of 3346] 3324, A21 smeeRomie | or 7224; +543, meme 00] 10,907] mas3zf +526, ovewmene | asstf 10.222) +397 CBE 24,211 25,577 +1,366 Afi 8,600 8,838 +237 eee |
Slide 28: Cash flows
202130 4ryv170—-zSsz ENOM6TO Co.,Ltd. + ICKY, BS tyyVIIO—2,506BANLRVE + BRL OBRICAS ROWELL CEDS, RAF yYIIO-IkA2,402BGALRIEM DU —FpyVIAIO-lk PSA SiS BRADICKS¥vyYIIO— 2,357 2,506 +148 en re wieof 457, 4297 es re w7z| 46] TA mown =| awe] A907 wetmcestrsao— | ansorf azaoz; A900 amenmomeccest | awn} azar
Slide 29: Medium-term management plan
5. PAA ate (2022573 ABA~ 2024573 AA) SxxetL/Er © ENOMOTO
Slide 30: Enomoto 2030 vision
EY3Y2030 ENOM6TO Co.,Ltd. Sweet L/Er BEOMDSA THY, Hz hek—la CSBS BEBEDI<VEBUT. BPRHSORRICARTS. 52080 IA DET CARE EIS | KYINE<K KY RAMOBATC BSULCCVRAOKARN-hY—€@ BS 2 ee + SRO C BIMOTH RCS RLTMRE ACF HLT S + RAENT FE PLDI SRR < WB C1 NS ay EEE + REAR ORAL CRARARORRIC HATS
Slide 31: Plan overview
RARER AE ENOMGTO Co,Ltd. + EYSY2030Cl4, BFRGMOmLAS RiRA DD. HIMMEZORMLeHcX LEBER CEARMAO V-TYFORRE LASHBKREMS + RABICIS, Tin MOR ALAN OND, Tina FORAMAE ML. AEE AOR EDUT, RE EEE ES CMR (Fuss 1st STEP 2nd /3'd STEP | . - - 7 SEBO BEAR ORE wie ao, HESSD BH ERO DAD ILL DI Wier Alt) ORHAERE EDA ORE H + P
Slide 32: 1st STEP
1st STEP(202273 ABA~ 202443 AHA) ENOMG6TO Co. Ltd. * IIPS iA SAITIAIY, NIB AIF U—-KID—AIBIC ESI + SEURSPRICMNA T. BEMESICKY (TAMMIE (RFF) ILC. eRe Ste 1st STEP Baral TEINTERR KRDEA OIA RRB EAE (ILLS ina) => ETS eae ieee ALB sepa ROE 2508 208 8% EV: Bape ANED OS 2I1 EDL COSEBME ALS BSeFRS BFR FUSS |S
Slide 33: Growth in target markets
KROBAOKRSE ENOMETO Co.,Ltd. + ILPDI WimARAITECOREYFIRIIPNI—FSAMITI—RIL—-LRE, SORE ABEERMDED CSAC HURL in BORG E KRRAEOH Rie Pal BOLP ST iA (FA) SINISE CHRUSD) @U-KIL-h @ ARII(ARIIBREC) «=6—@ FOB y 456 440 YY 421 393 <r “fy 353 # y 350 # y RE SER IIS NS 304 «# RY Ws 300 NANT RIAD 245 250 o> Me e@ Sal
Slide 34: Growth strategy
War 75816 (Beit o— Be All 5816) ENOME6TO Co,Ltd. + ENRMOKCAS BSUS, MRO RTA BC RAO DS CIMA, MITRES. ASMbCEHBEL (RIAZMEERRI SEIT CRK<, BRAICMLT—Y SEALERS REAS + BSS—AEE PAO LY, PRA AURe ERE StS SC CSIC. ARN AMR ION P RAO S el IA Sie Re RC AU, FARMONIMMBALEMSCW< Y-RIL—-L: DRIV ORES LECRAD LR SEE BE(DLA
Slide 35: Fuel cell separator business
PRS ES tH eB on O BFE ENOMG6TO Co.Ltd. + BARA FERS Bib (PEFC) MISA Zi (GDL) ABER LINDY SWRAFCH AP + PRO MAYS GDL(GDLFC+) CARR Ema EGER, Set heMlC KU ACA tee + Bet 9. GDLEBHEEL. HAV TYRE bL. IAP EEL + 20255 (CRA SHEAITOT AM. HERICER AMS, KO-Y, RAR. LAIP—-LS CORMERS HERA tHE BARE 2 LES ——, #iRAZGDLFCt
Slide 36: FCV business roadmap
PRS ES EB GaSe FA CIC at T ENOM6TO Co.Ltd. TT + XTVI—PFYBISFCV — 203 0FFCVinsauR4 67,5 208A (BLA PA) + 20213 AR ICBUC Hat 6 (BPE: 4, BIA: 2 fF) RAR * BEICMIT2Z015FItW1/10IAZbA ORE Bist 1st STEP(20217 2023) 2nd STEP(2024° 2026) 3" STEP(2027° 2030) ‘RBS. RAAOBARH ‘BEST VORB BSG BSR. REAOBARF ‘BES UE B
Slide 37: Targets by segment
ax iat eS * OSC BASS ENOM6TO Co.,Ltd. © ami lt3 C6 OBA ~ 70fa (3 LS) + RHR S3 FH C3 ~ 518A (RABEL) Bia CME ROMANS FER iRRA RRA =| 6 Oe5~ 70mm (SEIT) MERE 5 Ogg ~5 5. (SHERIREt) HABA 3er~ Stars (SEIT) RTSIBR 31187 AN-hIAY DLP ST) ieARAIFIAIY OSE DIAVPLAMUT 4 YTD NIA U-RIL—LORE 04a AYN—bIP Ibs TUS 5a
Slide 38: Profitability targets
BARR RRERIC ENOMGTO Co,Ltd. * ED3Y2030 15t STEP Cd, BRT AORBStHY, AA25%% BialCRES SR + 29d STEPLRISIR EAR EHRL I O. CS EROSIS LITER Bc Sa Ac SHOTS mee EECA (A) —O- ac 4ttea 26.0% 25.8% 25.0% 2017/3348 2018/3348 2019/3384 2020/3348 2021/3#4 2022/38 2024/3348
Slide 39: SDGs initiatives
SDGSADEXU HAA ENOMGTO Co.Ltd. BICKS mies — | PRATER ORE BRRHAORIR =“ + KBR OHMER PETRIE PE) + ABDI IVE | SBR RRO ME CRORE + RARORELED GHEE es ELEN / SRTOLYTUmOB — |. RIBDERUBEICL SIS FT < SHADE rg OF (JSFF<BHN*) » HERO LE RO BR HO AVER CR SHA BEOINEEE CS SRROR Ce |. cetmeosets EO AREER Hg + GRATE ES
Slide 40: Enomoto 2030 1st STEP targets
EY3aY2030 1st STEP ENOMG6TO Co.,Ltd. * IIPS imAAITIARIY, NIE U—-RIL—ARC SAA MOMAIC LS JOR C TAMMIE (PRR ZE) SIS FITC KSAMBKRE BT ToL CANTER (BRITA EAS) (BAF) meet 9 —O— ft Dnmies 46% 46% 46% ° 45% 30,000 AA% > ol fo 43% 42% 25,000 25,000 22,103 22,647 22,999 21,047 18,903 19,135 19,366 2015/388 2016
Slide 41: FY2022 forecast
6.202273 AAAsRin TAB SxxetL/Er © ENOMOTO
Slide 42: FY2022 forecast summary
20225 FSAHH Seta PA ENOMG6TO Co.,Ltd. soLalt, 4QIC MPM A OSHA A S Allele, BIA PAB AC. STM OWE KY BRIBE PAR SATA LARA OMS Lec VSB ADE<CRSCEDS, MC PR iat aoLtt Fa sob BISELL ToLieie Rt (BAR) (%) (BAR) (%) (%) (pt) TLS 22,999 100.0 23,000 100.0 +0.0 - atone | 3815 166] 3850 167) 40900 +o moe [ 2252 98|
Slide 43: FY2022 forecast by segment
202253A8R enetalsstare ENOMG6TO Co. Ltd. + U-RIL—AIEIND BAIT SCOP RICK VIBE PAB + DRIDHBmMIsAY—-hIAY: ILP DT bb AAlT SEES PAT SH 4QO2 MAES AiielC MA = PAB 2021/3#8 2022/3#8 Re #BpRLE Bigs HBpLe BUELL (BAR) (%) (BR) (%) (%) hee 7,287 31.7 7,423 32.3 +1.9 a7 on 2,639 11.5 2,697 11.7 42.2 THIS ABE 12,3
Slide 44: FY2022 capital expenditure forecast
2022773 AHH axle Maas ENOM6TO Co.,Ltd. + DROS M Ban CLE LE BSRIC HES aeRO AS aM + SOHO BILERPYATLOANBASICHS ED + BTR OMRORLSI1IAREPEL THY, RMRMAO Mls ee Bait Pia BUELL (BAR) (BAR) (%) Ba ted 2,173 4,119 +89.5 IC-hSYYASRU-RIL—-L 210 223 +6.1 ATDhABU-RIL-L 184 235 +27.7 3499 aban 1,732 3,290 +89.9 Eos
Slide 45: ENOMG6TO Co.,Ltd.
ENOMG6TO Co.,Ltd. tama RRORZ, RAP RSORROMMICMDSacHlCO OTK CIA, BRAN BE CILEUVED, FERCERE BA CHVUET. WEA FRE eRICB OW CHE RLEEO CHY, RORRIL, SRO PRAICLYFPRCRESERCSSARBEDHSCCECT ARUET.