FUJIBO HOLDINGS, INC. · 2017. 5. 31. · 19 61 261 172 3,739 3,466 3,735 3,185 3,029 2,980 3,620...

FUJIBO HOLDINGS, INC.

FY 2016Financial Results

May 15, 2017Mitsuo Nakano

Representative Director and PresidentFujibo Holdings, Inc.

COPYRIGHT FUJIBO HOLDINGS, INC. ALL RIGHTS RESERVED.


FY 2016 Key Results

COPYRIGHT FUJIBO HOLDINGS, INC. ALL RIGHTS RESERVED. 2

vs FY2015

Achieved all targets (except net sales) of mid-term management plan, “Maishin (Go for it) 14-16”, including operating income

Significant earning growth and record high operating income , driven by Polishing Pad Business and Chemical Industrial Products Business

Launch our new mid-term management plan “Kasoku (Acceleration) 17-20”“Accelerate” expansion of our corporate value with speedy business operation

N e t S a l e s

Operating Income

+7.2%

+88.1%


3,587 3,533

2,706

3,188

3,768 3,500

5,867

2,981

4,366

3,624

6,816

50,254 47,250

38,203 33,558 35,958

36,282

40,988 39,313 41,173

38,117 40,878

0

10,000

20,000

30,000

40,000

50,000

60,000

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2006 07 08 09 10 11 12 13 14 15 16E

477 755 371 753 918

1,306

3,142

1,770

2,382

3,015

4,344

FY2016 Financial Results


“Toppa” 11-13“Henshin” 06-10

（FY）

(JPY mil)

“Maishin” 14-16

Net Income Attributable to Parent Company’s Shareholders (left axis)Operating Income (left axis)Net Sales (right axis)

(JPY mil)


Quarterly Financials

681 774

1,055

469

950

1,510 1,366

538 783

1,005 992 842

2,257 2,383

1,457

717

9,514 9,576

10,749

9,472 9,832

11,038 10,689

9,613 9,337 9,594 9,345

9,839

10,606 10,910

10,452

8,909

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

FY131Q

FY132Q

FY133Q

FY134Q

FY141Q

FY142Q

FY143Q

FY144Q

FY151Q

FY152Q

FY153Q

FY154Q

FY161Q

FY162Q

FY163Q

FY164Q

Operating Income Net Sales


(JPY Mil)


Net Sales by Segment

12,072

9,613

14,883

4,603

10,418 9,766

14,126

3,806

14,432

10,260

12,529

3,656

0

6,000

12,000

18,000

Polishing Pad Business Chemical IndustrialProduct Business

Textile Business Other Businesses

FY2014 FY2015 FY2016


(JPY Mil)


Operating Income by Segment

3,612

469 235

48

2,636

694 264

26

5,593

864

169 188

0

1,000

2,000

3,000

4,000

5,000

6,000

Polishing Pad Business Chemical IndustrialProduct Business

Textile Business Other Businesses

FY2014 FY2015 FY2016


(JPY Mil)


Polishing Pad Business


541 803 667 624 2,048 1,982

886 676

2,574 2,933 2,483 2,427

4,303 4,264 3,077 2,787

0

1,000

2,000

3,000

4,000

5,000

6,000

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16


2,636

5,593 10,418

14,432

FY15 FY16

(JPY Mil)

Composition of Sales: FY2016 Increases both in Sales and income

For LCD Glass・Production adjustment for panel inventory on customer side

For Hard Disks/Silicon Wafers・Slow down of PC sales, strong wafer market

For CMP・Recovery of semiconductor demand

Others・Boosted demand on user side for general industry application

For LCD glass

For hard disks

For silicone wafersCMP

Others

Non polishing agents


Chemical Industrial Products Business


55 157 196285

155284 266 157

1,794 2,289 2,358 3,324

2,456 2,706 2,829 2,268

0

200

400

600

800

1,000

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16


694

864

9,766 10,260

FY15 FY16

Net sales increase for 11 consecutive periods in a row, and record high operating income・Net sales increase due to order increase

Continuing stable production(Yanai factory) ・Production enhancement due to new facility in

operation(Takefu factory) ・Stable production due to facility renovation

Functional Materials

Pharmaceuticalsintermediates

AgriculturalChemical intermediates

Carbon bisulphide Lime sulfur mixture

Composition of Sales: FY2016 Increases both in Sales and income

(JPY Mil)


Textile Business


138 42 134▲ 50

19 61 261

▲ 172

3,739 3,466 3,735 3,185 3,029 2,980 3,620 2,899

-400

-200

0

200

400

600

800

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16


264 169

14,126 12,529

FY15 FY16

Product/ fabric (B.V.D., ANGLE) ・TV shopping, Internet sales growth・Sales stagnation in mass retailers and department stores・Logistics cost reduction resulting from significant inventory cutback

・Overall cost reduction due to facility scale optimization at domestic and overseas plants

・Shift to more profitable products Structural reform for constitutional improvement

BVD

ANGLE SpinningSynthetic fiber

Spandex

Weaving, knitting

OEM

Dye processing

Composition of Sales: FY2016 Decrease both in Sales and income

(JPY Mil)


Other Businesses


462

▲ 6 ▲ 16

33 53 44 56

1,230 905 768 902 818 959 924 954

-50

0

50

100

150

200

250

300

1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16


26

188

3,806 3,656

FY15 FY16

Trading (Automobile & Machinery and others)・Recovery trend in automobile exports・Downward trend in machinery and tire exports

Chemical products・Expansion of devices for medical products for new applications・Recovery of devices for digital camera・Productivity improvement due to labor savings and streamlining

Purification (Solvent Purification and others)・Cost reduction in solvent regeneration

Trading

OthersFunctional products

Chemical products

Composition of Sales: FY2016 Decrease in sales and increase in income

(JPY Mil)


Gross Operating Income and SGA


COGS, 25,546

COGS, 25,591

Gross Operating Income, 12,571

Gross Operating Income, 15,286

FY15 FY16

Gross Operating Income Selling, general and administrative expenses

(JPY Mil) (JPY Mil)

8,946 8,470

FY15 FY16

COGS Ratio SG＆A Ratio

62.6％67.0％ 20.7％23.5％

Net Sales38,117

Net Sales40,878


YoY change in Operating Income

FY15 Volume COGS Sales Prices Foreign exchange

rates

Expenses FY16


(JPY Mil)

6,816

3,624

+1,985+409 +65 +159

+574

+3,192


FY 2016 Consolidated Results

(JPY Mil) FY16 FY15 ChangeNet Sales 40,878 38,117 +2,760 +7.2%Operating Income 6,816 3,624 +3,191 +88.1%Net financial revenues 27 ▲24 +51Others 232 124 +108

Ordinary income 7,076 3,724 +3,351 +90.0%Extraordinary income or loss ▲713 35 ▲749

Income before income taxes 6,362 3,760 +2,601 +69.2%Corporation tax and others 2,017 745 +1,272

Net Income(attributable to shareholders of the parent) 4,344 3,015 +1,329 +44.1%

Profit margin on sales 16.7% 9.5% +7.2pt



Details of Extraordinary Income or Loss

(JPY Mil) FY16

Extraordinary income +5 Gain on sales of noncurrent assets

Loss on disposal of fixed assets ▲109 Equipment replacement and others

Impairment loss ▲585 Reasons related to the Oyama Factory and others

Other extraordinary loss ▲23

Expenses of aid to Kumamoto earthquake

Total extraordinary income or loss ▲713



Consolidated Balance Sheet


Capital adequacy

ratio

Mar 2015 Mar 2016 Mar 2017

51.0％ 57.7％ 60.2％

29,715 27,295 27,415

6,070 5,856 5,034

9,652 8,566 8,860

3,239 4,139 8,734

Mar-15 Mar-16 Mar-17

Cash and deposits

Accounts receivable

Inventories

Others

(JPY Mil) (JPY Mil)

24,830 26,445 30,149

5,297 4,224 2,617

13,292 10,093 12,405

5,256 5,093

4,872

Mar-15 Mar-16 Mar-17

Account Payable

Others

Interest Bearing Debt

Net Asset

D/E RatioMar 2015 Mar 2016 Mar 2017

0.21 0.16 0.09

48,677 45,858 50,044 48,677 45,85850,044

Assets Liabilities and Net Assets


Cash flow and Working Capital


4829

5545

79

▲ 16

▲ 36 ▲ 34

▲ 12 ▲ 8

31

▲ 6

20 32

71

FY12 FY13 FY14 FY15 FY16

Investment cash flowOperating cash flowFCF

（JPY Hundred Million）（JPY Hundred Million）

(48) (51) (52) (50) (48)

107 89 96 85 88

5260 60 58 50

11198 104 99 90

Mar-13 Mar-14 Mar-15 Mar-16 Mar-17

InventoriesAccounts receivablesAccounts payablesWorking Capital

Cash flow Working Capital


FY2017 Financial Outlook


1H, 21,516

1H, 19,800

2H, 19,361

FY16 FY17E

Net Sales Operating Income Net Income（JPY Mil）（JPY Mil）（JPY Mil）

1H, 4,641

1H, 2,270

2H, 2,175

FY16 FY17E

1H, 3,060

1H, 1,530

2H, 1,284

FY16 FY17E

40,878 40,000

6,816

4,500

4,344

3,000▲2.1％

▲34.0％

▲31.0％


FY2017: Financial Outlook Summary

(JPY Mil)FY17

ForecastFY2H

Forecast FY16 Change

Net Sales 40,000 19,800 40,878 ▲878 ▲2.1%

Operating Income 4,500 2,270 6,816 ▲2,316 ▲34.0%

OrdinaryIncome 4,700 2,370 7,076 ▲2,376 ▲33.6%

Net Income 3,000 1,530 4,344 ▲1,344 ▲31.0%

Net Income Per Share（JPY）

262.25 133.75 379.80 ▲117.55

Dividend Per Share（JPY）

90.00(Estimate)

- 90.00(Planned)

-



14,432

10,260

12,529

3,656

10,800

11,000

13,500

4,700

FY16 FY17E

5,593

864

169

188

2,800

900

650

150

FY17 Forecasts by Business Segment


Net Sales Operating Income（JPY Mil）（JPY Mil）

Polishing Pad Business

Chemical Industrial Products Business

Textile Business

Other Businesses


1,252

665 594 291

1,239

511 1,263

2,768

1,350

558

326105

215

9985

471 740

298

101231

FY12 FY13 FY14 FY15 FY16 FY17E

Polishing Pad Business Chemical Industrial Products Business Textile Business Other Businesses + Total Company

Forecast: CAPEX and Depreciation


CAPEX Depreciation（JPY Mil）（JPY Mil）

2,5632,775

3,876

583 653 665 568 544

566 674 746 937

1,173 173

195 190 207

184

5574 83

9387

FY12 FY13 FY14 FY15 FY16E FY17E

1,3791,598 1,686

1,843 1,806

3,389

2,2702,1141,989


Dividend policy

34.49 70.91 88.06

127.95

294.64

151.78

204.19

260.19

379.80

0

200

400

600

800

1,000

1,200

FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16

Total Dividends EPS（JPY）


（JPY Mil）

FUJIBO HOLDINGS, INC. 22

This presentation is prepared to offer reference information about Fujibo Holdings, Inc. to the investorsand is intended to generally provide investors and analysts with financial and operational informationabout Fujibo Holdings, Inc., but not to solicit or recommend any sale or purchase of stock or othersecurities of Fujibo Holdings, Inc.

Fujibo Holdings, Inc. has not verified and would assume no responsibility for the accuracy, appropriation,or completeness thereof. This presentation does not contain all relevant information relating to FujiboHoldings, Inc. or the sale of its shares.

This presentation includes forward-looking statements. These statements discuss expectations, identifystrategies, contain projections of Fujibo Holdings, Inc.’s financial condition or results of operations or stateother forward-looking information. The forward-looking statements in this presentation are subject tovarious risks, uncertainties and assumptions about Fujibo Holdings, Inc.’s business and results ofoperations. The expectations expressed in these forward-looking statements may not be achieved, andactual results could differ materially from and be worse than expectations.

FUJIBO HOLDINGS, INC. · 2017. 5. 31. · 19 61 261 172 3,739 3,466 3,735 3,185 3,029 2,980 3,620...

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