Consolidated Financial Result Digest FY2017 Q2 …...2016/11/11 · Consolidated Financial Result...
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Consolidated Financial Result Digest FY2017 Q2 (Fiscal Year Ended March 31, 2017) Any information incorporated in this document is not intended for suggestion of purchase or sale of equity share of the company. All the description and projection are based on the company's own analysis at the time of compilation, and their accuracy is not guaranteed. These data may be revised without prior announcement. The company will neither assume nor compensate any loss of anybody resulting from decision based on information provided here. TAIYO HOLDINGS CO., LTD Z October 31, 2016
Transcript of Consolidated Financial Result Digest FY2017 Q2 …...2016/11/11 · Consolidated Financial Result...
Consolidated Financial Result Digest FY2017 Q2 (Fiscal Year Ended March 31, 2017)
Any information incorporated in this document is not intended for suggestion of purchase or sale of equity share of the company. All the description and projection are based on the company's own analysis at the time of compilation, and their accuracy is not guaranteed. These data may be revised without prior announcement. The company will neither assume nor compensate any loss of anybody resulting from decision based on information provided here.
TAIYO HOLDINGS CO., LTD Z October 31, 2016
Terminology
Term Definition
PWB Printed wiring boards
SR “Solder resist ink” or “solder mask”
PKG Semiconductor packages
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Classification of product
Group Category Type Remarks
PWB insulating materials
Rigid
high-end
Liquid
・SR materials for insulation and surface protection use
regular
PKG Liquid/Dry Film
FPC Liquid/Dry Film
Build-up Liquid/Dry Film ・build-up materials for interlayer insulation and hole plugging use
Other related products
Other Liquid ・marking, etching, plating materials ・flux, solvent etc. ・conductive silver paste
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FY2017 Q2 Overview
1 Depreciation of the yen against U.S. dollar *Estimated exchange rate:1USD=105yen / Actual exchange rate：1USD=106yen
4 Consolidating Taiyo Green Energy Co., Ltd from April 2016 *The main businesses are sale of electricity generated by solar power and plant factory operation
3 Increased costs due to completion of Kitakyushu Plant in September 2015
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A year-on-year slight increase in FY2017 Q2 sales volume while negative growth forecast* in worldwide main consumer electronics and semiconductor market in 2016
*source: Mizuho Bank, Gartner
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FY2017 Q2 Consolidated financial results
Results summary JPY millions
FY2017
FY2016 FY2017 H1 FY2017
Q2 Q2 forecasts forecasts
Net sales 25,400 23,442 -1,958 -8% 23,000 102% 45,700
Operating
income5,807 4,557 -1,250 -22% 4,100 111% 8,000
Ordinary
income5,889 4,602 -1,287 -22% 3,950 117% 7,800
Net income 4,088 3,623 -465 -11% 2,800 129% 5,500
Exchange rate of
JPY/USD121.48 106.39 105.00 105.00
progress
rate%YoY
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4
FY2017 Q2 Net sales (YoY)
+310
-2,841
+329
Analysis of net sales
25,400 23,442
JPY millions
+29
+215
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Newly consolidated subsidiary, Taiyo Green Energy
Change in product mix,etc.
Increase in sales volume of PWB etc.
Foreign currency fluctuation
Increase in sales volume
of DF
FY2016 Q2 FY2017 Q2
5,807 4,557
-1,560
-8
6
+179 +139
6 FY2017 Q2 Operating income (YoY)
Analysis of operating income
JPY millions
Newly consolidated subsidiary, Taiyo Green
Energy
Increase in sales volume of PWB etc.
Increase in sales volume
of DF
Foreign currency fluctuation,
change in product mix, SGA, etc.
FY2016 Q2 FY2017 Q2
BS (YoY)
FY2017 Q2 BS highlights
・Decrease in foreign currency denominated assets due to appreciation of the yen
・Increase in retained earnings ・Negative impact of foreign currency translation adjustments due to appreciation of the yen
Assets Liabilities and Equity
Cash
Inventories
Other Current Assets
Fixed Assets
Liabilities
Equity
JPY millions
26,124 25,294
13,916 12,943
4,0163,803
21,408 21,775
65,464 63,815
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
FY2016
full year
FY2017
Q2
45,250 44,312
20,214 19,503
65,464 63,815
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
FY2016
full year
FY2017
Q2
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FY2017 Q2 CF highlights
Operating CF Investing CF Financing CF
・Decrease in net income before income taxes
・Capital investment for Kita- Kyushu factory in FY2016 ・Cancellation of fixed deposit
・Increase in short-term loans payable
CF (YoY) JPY millions
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8
4,564 3,701
(4,000)
(2,000)
0
2,000
4,000
6,000
8,000
FY2016
Q2
FY2017
Q2
(3,369)
204
(4,000)
(2,000)
0
2,000
4,000
6,000
8,000
FY2016
Q2
FY2017
Q2
(1,178) (656)
(4,000)
(2,000)
0
2,000
4,000
6,000
8,000
FY2016
Q2
FY2017
Q2
9,056
7,408
4,814
778
2,722
10,320
7,741
4,746
867
1,726
10,123
6,400
4,531
8651,523
0
5,000
10,000
15,000
Rigid (high-end) Rigid (regular) PKG Build-up/FPC Other
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*This category differs from the classification of “sales results by product group category” mentioned in consolidated financial results and annual securities report, etc.
FY2016 Q2
FY2017 Q2
FY2015 Q2
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Sales results by product group category
JPY millions
FY2017 Q2 Sales results by product group category
1,490
2,392
1,159727
293862
2,387
833 605 2950
1,000
2,000
3,000
Japan China Taiwan Korea Other
JPY millions
8,651
11,320
5,0143,889
2,263
8,59410,439
4,128 4,0731,990
0
2,000
4,000
6,000
8,000
10,000
12,000
Japan China Taiwan Korea Other
JPY millions
FY2016 Q2
FY2017 Q2
Operating profit ratio
Sales by segment (including inter-segment sales or transactions)
Operating income by segment (including inter-segment sales or transactions)
17% 21% 23% 19% 13%10% 23% 20% 15% 15%
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10 FY2017 Q2 Segment information
(500)
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017
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11 Trend of quarterly performance
JPY millions
●
Net sales（left axis）
Operating income (right axis）
Net sales & operating income
