2772010 presentation material) - MPI Corporation · 1 MPI Co. Updated: Jan, 2010 Goldman Sachs “...
Transcript of 2772010 presentation material) - MPI Corporation · 1 MPI Co. Updated: Jan, 2010 Goldman Sachs “...
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MPI Co. <6223TT>MPI Co. <6223TT>
Updated: Jan, 2010Updated: Jan, 2010
Goldman SachsGoldman Sachs““ Taiwan Corporate DayTaiwan Corporate Day””
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CONTENTSCONTENTSA. Company Profile 03
B. Products 06
Appendix 29
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A. Company Profilea1. Company at a Glance
a2. Business Portfolio
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a1. Company at a Glancea1. Company at a GlanceAA
No. 7, Luke 1st Rd., Luzhu Shiang, Kaohsiung,
821 Taiwan, R.O.C.Southern Taiwan Branch
743No. of Employees
NTD$ 733MPaid-in Capital
July, 25, 1995Founded
No. 155, Chung-Ho St., Chu-Pei, Hsinchu,
302 Taiwan, R.O.C.Address
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a2. Business Portfolio : 2009a2. Business Portfolio : 2009
Solar
15%
Leda
24% Probe Card
61%
AA
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B. Products
b1. LED: Prober & Sorter01. LED Food Chain02. LED Trend03. Business Contents
b2. Semi-conductor: Probe Card01. Semi-conductor 02. Peer Group Analysis03. Business Contents
b3. Solar: Ingot Slicing01. Wafer Process in Solar02. Business Contents
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01. LED EPI-Wafer Process01. LED EPI-Wafer ProcessB1B1
400um 100um
GrinderGrinderLaser ScriberLaser Scriber
ExpanderExpander
Wafer Wafer MounterMounter BreakerBreaker
ProberProber
Tape Tape MounterMounter
SorterSorterQC ProberQC Prober
CounterCounter
CCD
2560
Post Post InspectionInspection
•• MPI Co. (75%)MPI Co. (75%)
•• FittechFittech Co.Co.
•• ChromaChroma ATE Inc.ATE Inc.
•• MPI Co. (30%)MPI Co. (30%)
•• ASMP (HK)ASMP (HK)
111 777 777MOCVD MOCVD 42(P)/Run42(P)/Run
SorterSorterProberProberPCPCPCPC PCPCPCPC PCPCPCPC
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02. LED Trend02. LED TrendB1B1
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02. LED CAGR02. LED CAGRB1B1
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86
0
20
40
60
80
100
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
PC
Shipment
P.O.
03. Equipment Shipment 2008~200903. Equipment Shipment 2008~2009B1B1
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China
41%
Korea
5%
Taiwan
54%
by Geographyby Geographyby Geography by Productby Productby Product
31
43 3989
12910
21
0%
20%
40%
60%
80%
100%
Q1 Q2 Q3 Q4 Season
%
Sorter
Prboer
PC
03. Shipment: Geography & Product Mix03. Shipment: Geography & Product MixB1B1
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TaiwanTaiwan ChinaChinaKoreaKorea
03. 2009 Major Customers03. 2009 Major CustomersB1B1
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Semi-Automatic Probe Station
LEDA-PT120 PROBER
03. Prober 03. Prober B1B1
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LEDA-PNP
M7600 Fully-Auto Mapping Sorter
03. Sorter 03. Sorter B1B1
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LED-Auto Taping Machines
PT-350 TAPING
03. Auto Taping Machine03. Auto Taping MachineB1B1
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03. State-of-the-Art 2 in 1 Machine03. State-of-the-Art 2 in 1 MachineB1B1
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01. Market Consensus: Semi-Conductor01. Market Consensus: Semi-ConductorB2B2
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12,18410,164
4,824 4,1271,450
4,593
15,252
10,941
4,286 4,857
1,708
4,347
6,936
11,231
3,963 4,074
1,946
3,973
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
FFI MJC JEM TCL MPI SV
NT$ Million
2008
2007
2006
P1::::Exchange rate: 1 dollar = NT 33 ; 1 JPY = NT 0.3; 1SGD = NT 22
P2:::: SV probe in 100% wholly own by Ellipsiz, an semi-conductor equipment maker, from 2006.
b2. Peer Group Analysisb2. Peer Group AnalysisB2B2
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17%
21%20%
6%
36%
23%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
FFI MJC JEM TCL MPI SV
(%)
08Q4
09Q1
09Q2
09Q3
P1::::same quarter period in all company. Ex: Q1= 2008.01~2008.03.
P2::::Exchange rate: 1 dollar = NT 33 ; 1 JPY = NT 0.3; 1SGD = NT 22
P3::::SV probe in 100% wholly own by Ellipsiz, an semi-conductor equipment maker, from 2006.
b2. Peer Group Analysis (con.)b2. Peer Group Analysis (con.)B2B2
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Logic P/C
LCD Driver IC 40μμμμm pitch for LCD Driver IC
03. Categories of Probe Card03. Categories of Probe CardB2B2
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70%
66%
60%63%
32%33%
27%27%
5%7%7%
3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Q1'09 Q2'09 Q3'09 Q4'09
%
LCD
Logic
Memory
03. Product Mix in 2009B2B2
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03. Monthly Shipment 2007~2009
0
50,000
100,000
150,000
200,000
250,000
300,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Pin
2007
2008
2009
B2B2
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03. 2009 Major Customers
Design HousesDesign Houses FoundriesFoundries Testing HousesTesting Houses
B2B2
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03. B/B Ratio 2007~2009
1.25
0
0.3
0.6
0.9
1.2
1.5
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
200920092009200920082008200820082007200720072007B2B2
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B2B2 03. Product & Customers Mix (%)
LCD
64%Logic
30%
Memory
6%
by Productby Productby Product by Customerby Customerby Customer
Design
house
35%
Foundry
7%
Testing
house
58%
20092009
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01. Wafer Process in Solar
Growing/Casting
Wafer cutting
Gluing
Cropping
Wafer cleaningWafer measuring
Edge grinding
Wafer separating
Squaring/Bricking
Wafering process
Mono Si
Poly Si
B3B3
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02. Shipment 2009
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
Jan-09 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Month
Pcs
B3B3
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02. 2009 Shipment by Geography
Korea
5%US
25%
Taiwan
70%
B3B3
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Appendix
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Global LED SectorsGlobal LED SectorsGlobal LED Sectors