Japan Display Inc. · TSE:6740
Japan Display — Q2 FY2018 Earnings Presentation
12 slides from Japan Display's earnings presentation, Nov 12, 2018
Slide 1: Second Quarter of FY 2018 Consolidated Financial Results
Second Quarter of FY 2018 （July 1, 2018 – Sep 30, 2018) Consolidated Financial Results Japan Display Inc. November 12, 2018
Slide 2: Today's Speakers
Today’s Speakers Yoshiyuki Tsukizaki Chief Operating Officer and President Takanobu Oshima Chief Financial Officer Copyright © 2018 Japan Display Inc. All Rights Reserved. 2
Slide 3: 2Q-FY18 Topics
2Q-FY18 Topics 2Q sales: ¥111bn, up 8% QoQ. Full shipments of slim bezel LCD FULL ACTIVE™ started later than planned due to delayed supplies of some components etc. 2Q saw big YoY drop in sales but lower fixed costs enabled by FY 2017 structural reforms led to a lower operating loss. One-month S
Slide 4: Business Conditions
Business Conditions 2Q: Expected sales to rise 40%-50% vs. 1Q backed by higher shipments of FULL ACTIVE™ for mobile, but sales were short of forecast due to component supply delays causing display Biz module production delays. Conditions In mobile displays business in China and other regions rem
Slide 5: 2Q-FY 2018 Operating Results
2Q-FY 2018 Operating Results (Billion yen) Q2-FY18 Q2-FY17 YoY Chg. Q1-FY18 QoQ Chg. Net sales 111.0 185.3 (74.3) －40.1% 103.3 +7.7 ＋7.5% Cost of sales 103.6 183.2 (79.6) －43.4% 102.1 +1.5 ＋1.5% Gross profit (loss) 7.4 2.1 +5.3 ＋258.6% 1.2 +6.2 ＋516.0% 6.6% 1.1% 1.2% SG&A 12.0 14.4 (2.4) －16.5% 11.0
Slide 6: 1H-FY 2018 Operating Results
1H-FY 2018 Operating Results (Billion yen) 1H-FY18 1H-FY17 YoY Chg. Net sales 214.3 373.9 (159.6) －42.7% Cost of sales 205.7 370.8 (165.1) －44.5% Gross profit 8.6 3.1 +5.5 ＋176.7% 4.0% 0.8% SG&A 23.0 29.9 (6.9) －23.0% Operating income (loss) (14.5) (26.8) +12.3 - -6.8% -7.2% Net non-op. income (expe
Slide 7: Operating Profit Change Factors
Operating Profit Change Factors vs. Previous Year (2Q-FY17) vs. Previous quarter (1Q-FY18) (Billion yen) Sales Sales 185.3 111.0 103.3 111.0 (4.7) (12.4) Operating loss (4.7) Operating loss ＋2.4 Operating loss (0) (9.8) ＋12.9 Operating loss ＋1.7 ＋0.3(1.0) (16.8) ＋1.2 ＋9.2 ＋2.9 Shipment Mfg. 2Q Shipm
Slide 8: Balance Sheet
Balance Sheet (Billion yen) 9/2018 6/2018 3/2018 9/2017 Cash and deposits 62.2 78.9 80.9 66.8 Accounts receivable - trade 80.9 64.2 82.9 99.8 Accounts receivable - other 67.3 37.6 42.8 84.6 Inventories 78.1 69.2 58.2 105.9 Other 20.1 8.4 6.1 5.8 Total current assets 308.5 258.4 270.8 362.9 Total non
Slide 9: Cash Flows
Cash Flows ■Financial Report: JGAAP ■ Internal business administration (Advances received are included in Operating CF) (Advances received are regarded as long-term liabilities & included in CF) (Billion yen) (Billion yen) Q1-FY18 Q2-FY18 Q1-FY18 Q2-FY18 Income bef. income taxes (0.8) (6.3) Income b
Slide 10: FY 2018 Guidance
FY 2018 Guidance Full shipments of FULL ACTIVE™ started in Oct. Since Oct. total sales are more than ¥100bn, we expect 3Q sales to be much higher QoQ. We expect solid growth in Automotive sales in the 2H. We are also seeing an increase in new business in the Non-mobile category. JDI will caref
Slide 11: Ramping up new Non-Mobile businesses
Non-Mobile New Business Ramp Up Ramping up new Non-Mobile businesses VR-dedicated Ultra- High-res Note PC Glass-Based high-res Display Display Fingerprint Sensor 6X higher sales vs. 15X higher sales vs. Plan to start mass FY17* FY17* mfg. in FY18 •VR-dedicated ultra high- •Full Active™ like displays
Slide 12: Forward Looking Statement
Forward Looking Statement: Any information related to market trends or industries mentioned in this document is based on information available at present and JDI does not guarantee that this information is accurate or complete. Any plan, estimation, calculation, quotation, evaluation, prediction, ex