Consolidated Financial Result Digest FY2017 Q3 (Fiscal ...
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Consolidated Financial Result Digest FY2017 Q3 (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 January 24, 2017
Transcript of Consolidated Financial Result Digest FY2017 Q3 (Fiscal ...
Consolidated Financial Result Digest FY2017 Q3 (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 January 24, 2017
Terminology
Term Definition
PWB Printed wiring boards
SR “Solder resist ink” or “solder mask”
PKG Semiconductor packages
1
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
2
FY2017 Q3 Overview
1
4 Book value of headquarters land and buildings that expected to be idled in connection with the launch of consolidating and relocating management functions written down to real estate appraisal value ( Impairment loss amount: 1,019 million yen)
3
A year-on-year slight increase in FY2017 Q3 sales volume 2
3
5 Revision to consolidated earnings forecasts for FY2017
Depreciation of the yen against U.S. dollar *Estimated exchange rate:1USD=105yen / Actual exchange rate：1USD=108yen
Increased costs due to completion of Kitakyushu Plant in September 2015
FY2017 Q3 Consolidated financial results
Results summary JPY millions
FY2017
FY2016 FY2017 forecasts
Q3 Q3 (revision)
Net sales 38,300 35,922 -2,378 -6% 47,000 76%
Operating
income8,646 7,188 -1,458 -17% 9,000 80%
Ordinary
income8,831 7,302 -1,529 -17% 9,200 79%
Net income 6,226 4,635 -1,591 -26% 6,200 75%
Exchange rate of
JPY/USD121 108 -13 -11% 109
progress
rate%YoY
4
Please see No.10 for further details on revision of FY2017 earnings forecasts
+674 +635
-3,687
FY2017 Q3 Net sales (YoY)
Analysis of net sales
35,992 38,300
JPY millions
5
FY2016 Q3 FY2017 Q3
Increase in sales volume of PWB etc.
Increase in sales volume
of DF Foreign currency fluctuation,
change in product mix, etc.
+345 +345
-2,148
FY2017 Q3 Operating income (YoY)
JPY millions
6
7,188 8,646
Analysis of operating income
FY2016 Q3 FY2017 Q3
Increase in sales volume of PWB etc.
Increase in sales volume
of DF
Foreign currency fluctuation,
change in product mix, SGA, etc.
13,950
11,225
7,260
1,158
3,287
15,496
11,626
7,187
1,298
2,692
15,172
9,858
7,163
1,3562,371
0
5,000
10,000
15,000
20,000
Rigid (high-end) Rigid (regular) PKG Buid-up/FPC Other
7
FY2016 Q3
FY2017 Q3
FY2015 Q3
Sales results by product group category
JPY millions
FY2017 Q3 Sales results by product group category
*This category differs from the classification of “sales results by product group category” mentioned in consolidated financial results and annual securities report, etc.
1,952
3,670
1,7491,109
4411,439
3,531
1,338964
3910
1,000
2,000
3,000
4,000
Japan China Taiwan Korea Other
12,97616,919
7,581 5,9223,360
13,23915,361
7,677 6,4533,033
0
5,000
10,000
15,000
20,000
Japan China Taiwan Korea Other
15% 22% 23% 19% 13%11% 23% 17% 15% 13%
8
JPY millions
JPY millions
FY2016 Q3
FY2017 Q3
Operating profit ratio
Sales by segment (including inter-segment sales or transactions)
Operating income by segment (including inter-segment sales or transactions)
FY2017 Q3 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
9 Trend of quarterly performance
JPY millions
●
Net sales（left axis）
Operating income (right axis）
Net sales & operating income
10
FY2017 FY2017
FY2017 previous new
Q3 forecasts forecasts
Net sales 35,922 45,700 79% 47,000 3% 76%
Operating
income7,188 8,000 90% 9,000 13% 80%
Ordinary
income7,302 7,800 94% 9,200 18% 79%
Net income 4,635 5,500 84% 6,200 13% 75%
Exchange rate
of JPY/USD108 105 109
Q3
progress
rate
rate of
change
Q3
progress
rate
In light of the higher-than-expected demand and the higher-than-anticipated depreciation of the yen, consolidated earnings for FY2017 will probably surpass the previously announced earnings forecasts on May 2, 2016, and hence the revision above.
Revision to FY2017 consolidated earnings forecasts
Forecast summary JPY millions
