FY2017 2 QTR Consolidated Financial Result Overview...FY2017 2nd QTR Consolidated Financial Result...

FY2017 2nd QTR Consolidated Financial Result

Overview

Nobuhiko Komeya Oct. 30th, 2017

President The earnings projections and other forward-looking statements

herein are based on certain assumptions made in light of

the information currently available to ALPINE and include potential

risks and uncertainty. Actual results could differ from these forecasts

due to changes in various factors surrounding the businesses of the

VISION2020

VISION2020 Consolidated Financial Result Overview -2-

+ ¥5.3bln

+4.5％

% (vs FY16)

+ ¥2.4bln

+ 192.8％

+ ¥3.9bln

ー

+ ¥4.5bln

ー

Sales +￥5.3bln

Net Sales +¥0.2bln

Exchange sales +￥5.1bln ≪Details≫

・USD +¥3.6bln

・EUR + ¥ 0.8bln

・CNY etc. + ¥ 0.7bln

【Foreign Exchange Sensitivity】

Impact on Operating Income

・USD per ¥1 ¥140mil/year

・EUR per ¥1 ¥80mil/year

FY2016 2nd QTR (Ended Mar. 2017)

¥120.8bln

¥1.2bln

△¥1bln

△¥2.1bln

△¥30.56

¥15 (interim)

△1.1%

△1.6%

¥105／$

¥118／€

¥126.2bln

¥3.7bln

¥3.8bln

¥2.4bln

¥34.87

¥15 (interim)

1.2%

1.7%

¥111／$

¥126／€

FY2017 2nd QTR (Ended Mar. 2018)

+ ¥6/$

+ ¥8/€

Net sales

Operating Income

Ordinary Income

Profit attributable to

owners of parent

E.P.S

Dividend

R.O.A.

R.O.E.

VISION2020 Quarterly Result (Segment) -3-

Unit: ¥billion Sales Quarterly Net Sales

Information &

Communication

Audio

55.1 48.8 53.8 64.4 68.2 69.7 72.4 75.4 69.5 72.0 75.0 77.8 73.4 66.3 65.6 67.6 62.4 58.3 60.5 66.3 61.0 65.2

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

1.3

△0.2 0.5 0.6 1.5

2.3

4.0

2.0 2.0 2.5

3.8

3.1

1.8 1.6

0.7 1.1

0.3 0.9

3.3

0.9 0.3

3.3

2.4%

- 0.4%

1.0% 0.9% 2.1%

3.4%

5.5%

2.7% 2.9% 3.5%

5.1% 4.1%

2.6% 2.5% 1.2% 1.7%

0.6% 1.6%

5.5%

1.5% 0.6%

5.2%

-10.0%

-5.0%

0.0%

5.0%

10.0%

(20.00)

0.00

20.00

40.00

60.00

80.00


Operating

Income

Operating

Income Ratio Quarterly Operating Income


円/USD 80.2 78.6 81.2 92.4 98.8 99.0 100.5 102.8 102.2 103.9 114.5 119.1 121.4 122.2 121.5 115.5 108.1 102.4 109.3 113.6 111.1 111.0

円/EUR 102.9 98.4 105.3 122.0 129.0 131.1 136.7 140.8 140.1 137.8 143.1 134.2 134.2 136.0 133.0 127.2 122.0 114.3 117.8 121.1 122.2 130.4

FY2012 FY2013 FY2014 FY2015 FY2017 FY2016

VISION2020 Quarterly Result (After & OEM) -4-

Sales

OEM

After

Others

Quarterly Net Sales

Unit: ¥ billion

55.1

48.8

53.8

64.4 68.2

69.7 72.4 75.4 69.5 72.0

75.0 77.8

73.4

66.3 65.6 67.6 62.4

58.3 60.5

66.3 61.0

65.2



円/USD 80.2 78.6 81.2 92.4 98.8 99.0 100.5 102.8 102.2 103.9 114.5 119.1 121.4 122.2 121.5 115.5 108.1 102.4 109.3 113.6 111.1 111.0

円/EUR 102.9 98.4 105.3 122.0 129.0 131.1 136.7 140.8 140.1 137.8 143.1 134.2 134.2 136.0 133.0 127.2 122.0 114.3 117.8 121.1 122.2 130.4

2017

年度2016年度2012年度 2013年度 2014年度 2015年度

VISION2020

・Net sales △2.6 ・Exchange difference +4.7

Net Sales Result (Segment/ After & OEM) -5-

（82％）（82％）（81％）

（81％）

△12.6(△11.3%)

vs. FY2015

Unit: ¥ billion

OEM

After

Others Audio

Information &

Communication

Segment

vs. FY16 +5.3

After & OEM

vs. FY16 +5.3

99.5 （82％）

100.4 （80％）

98.1 （81％）

100.2 （79％）

21.4 （18％）

25.8 （20％）

18.9 （16％）

20.9 （17％）

ＦＹ2016

2nd QTR Result

(endedMar.2017)

120.8

¥105/$

¥118/€

ＦＹ2017

2nd QTR Result

(ended Mar.2018)

+4.4(+20.7%)

vs. FY2016

¥111/$

¥126/€

vs. FY2016

+0.9(+1.0%)

ＦＹ2016

2nd QTR Result

(ended Mar.2017)

¥105/$

¥118/€

ＦＹ2017

2nd QTR Result

(ended Mar.2018)

¥111/$

¥126/€

126.2

+2.1(+2.2%)

vs. FY2016

+2.0 (+10.9%)

vs. FY2016

120.8 126.2

・Net sales +3.2 ・Exchange difference +1.2

・Net sales△3.0 ・Exchange difference +3.9

・Net sales +1.6 ・Exchange difference +0.4

VISION2020 Net Sales per Area -6-

42.8 44.8

50.0 44.5

vs. FY2016 +1.9(+4.6%) vs. FY2016 △5.4(△10.9%) vs. FY2016 +7.6(+53.9%) vs. FY2016 +1.2(+9.0%)

FY2016

1st half FY2017

1st half

US EU Asia & Others JPN

Information &

Communication

Audio

Unit: ¥ billion

32.1 31.4

43.8 37.4

10.5 17.3 13.0 14.1

10.7 13.3

6.1

7.0

3.7

4.3 0.9 1.0

14.1

21.7 13.9 15.1

Increase or Sales Impact △0.4

Exchange Rate Impact +2.3

Increase or Sales Impact △7.5


Increase or Sales Impact +7.0


Increase or Sales Impact +1.2

Exchange Rate Impact -

VISION2020 -7-

Operating Income

Negative Factor

Plus Factor Unit: ¥ billion

1.2

3.7 +0.1

+2.8 ＋2.1

+0.7

△2.4

△0.8

FY2016

1st half

Result

Increase Or

Sales Impact

Exchange Rate

Impact

Cost Improvement

Product Mix Selling Price

R&D Cost

Other Expenses

FY2017 1st half Result

vs. 2016 +2.4

Operating Income

VISION 2020 Investment & Inventory -8-

Point

１．R&D △2.1

・Efficient Designing(Software)△2.2

・Collection of R&D △1.2

・Capitalization of Embedded Software+1.0

・Depreciation of Software Assets+0.3

Others

２．Capital Investment △0.1

・Capitalization of Embedded Software△1.0

・Capital Investment+0.8

３．Depreciation +0.2

４．Inventory +2.6

・Exchange Rate Impact+1.2

・Keeping the Level of Inventory & Growing Sales

After Oct.

Unit: ¥ billion

FY2016 FY2017

R&D

FY2016 FY2017

CAPEX

FY2015 FY2016

Amortization

Depreciation

FY2015 FY2016

Inventory

10.3

4.2 3.1

25.6

8.2

4.1 3.3

28.2

0

50

100

150

200

250

300

VISION 2020

-10

0

10

FY2017 1st half

20

0.1

△8.3 △8.1

Cash Flow（1st half total） -9-

FY2016 1st half

1.9

△1.7

△0.2

Investment

CF Free

CF

Operating

CF

Unit: ¥ billion

Increase factor Decrease factor ・Profit before income

taxes +2.6

・Increase in notes and

accounts payable-trade △2.8

・Depreciation +3.3 ・Increase in inventories △1.2

・Income Taxes etc. △1.9

２．Investment CF △8.3 Increase factor Decrease factor

・Tangible Assets△3.4

・Intangible Assets△0.8

・Loan Receivable△4.1

point

Free CF △8. 1 １．Sales CF ＋0.1

VISION2020 Balance Sheet (vs. 2016)

0

50

100

150

End of FY2017 2Q End of FY2016

200 Account

Payable 24.0

ー

Others 32.5

145.3

Cash

53.3

Account

Receivable

39.4

Inventory

25.6

Others

10.0

Property

30.5

Investment

43.0 71.1%

Equity Ratio

Current

Assets

Fixed

Assets

Liability

Net Assets

Total Asset

201.8

149.1

70.4%

Total Asset

208.6

-10-

Unit: ¥ billion

Cash

45.8

Account

Receivable

44.1

Inventory

28.2

Others

15.8

Current

Assets Account

Payable 25.0 ー

Others 34.5

Liability

Property

32.1

Investment

42.6

Fixed

Assets

Net Assets

Equity Ratio

ポイント

１．Total Asset 208.6(+6.8)

(inc. Exchange rate impact +5.9)

①Current Asset 133.9（+5.5）

(inc. Exchange rate impact +5.2）

・Cash △7.4 ・Account Receivable 4.7

・Inventory 25.0 ・Loan Receivable 4.1

Others

②Fixed Asset 74.7（+1.2）

(inc. Exchange rate impact＋0.7）

・Tangible Assets +1.1

・Intangible Assets +0.3

Others

２ Liability 59.5 （+2.9）

（inc. Exchange rate impact +1.4）

・Accounts payable +0.9 ・Accured expenses +1.1

・Net defined benefit liability+1.0

Others

３. Net Asset 149.1(＋3.8)

・Retained Earnings +1.3

(Profit attributable to owners of parent +2.4

Devidend △1.0）

・Foreign Currency Translation Adjustment +2.4

Others

VISION2020

VISION2020 Consolidated Financial Result / Forecast -12-

1st Half 2nd Half Total

¥ 120.0bln ¥ 130.0bln ¥ 250.0bln

¥ 2.1bln ¥ 4.4bln ¥ 6.5bln

¥ 1.7bln ¥ 3.9bln ¥ 5.6bln

△ ¥ 1.0bln ¥ 1.8bln ¥ 0.8bln

¥ 11.60

¥108$

¥116/€

¥108/$

¥116/€ ¥108/$

¥116/€

¥ 30(forecast)

0.6%

0.4%

FY2017 (Forecast as of 4/27)

1st Half 2nd Half Total

¥126.2bln ¥ 133.7bln ¥ 260.0bln

¥ 3.7bln ¥ 5.2bln ¥ 9.0bln

¥ 3.8bln ¥ 4.4bln ¥ 8.3bln

¥ 2.4bln ¥ 2.3bln ¥ 4.8bln

¥ 69.62

¥111/$

¥126/€

¥108/$

¥127/€ ¥110/$

¥127€

￥30(forecast)

3.3%

2.3%

FY2017 (Forecast as of 10/30) Total vs

Total

+ ¥ 10.0bln

+ ¥ 2.5bln

+ ¥ 2.7bln

+ ¥ 4.0bln

¥ 58.02

+¥ 2/$

+¥ 11/€

ー

2.7%

1.9%

Net sales

Operating

Income

Ordinary

Income

Profit

attributable to

owners of parent

E.P.S

Dividend

R.O.A.

R.O.E.

VISION2020

2,017 2,049 1,980 2,071 459 550 417 436 2016 年度実績 2017 年度予想 2016 年度実績 2017 年度予想 2,017 2,049 1,980 2,071 459 550 417 436 2016 年度実績 2017 年度予想 2016 年度実績 2017 年度予想

2,017 2,049 1,980 2,071

459 550417 436

2016年度

実績

2017年度

予想

2016年度

実績

2017年度

予想

45.9

201.7

55.0

204.9

41.7 43.6

198.0 207.1

Net Sales Forecast (Segment/ After & OEM) -13-

¥110/$

¥127/€

¥108/$

¥119/€

260.0 247.7

（79％）（81％）（80％）（80％）

（19％）（21％）（17％）

（17％）

+9.1(+19.8%)

vs. 2015

+3.2(+1.6%)

vs. 2016

+1.9(+4.6%)

vs. 2016

+9.1(+4.6%)

vs. 2016

¥110/$

¥127/€

¥108/$

¥119/€

260.0 247.7

Unit: ¥ billion

OEM

After

Others Audio

Information &

Communication

Segment

vs. FY16 +12.2

After & OEM

vs. FY16 +12.2

FY2016

Result (ended Mar. 2017)

FY2017

Forecast (ended Mar. 2018)

FY2016

Result (ended Mar. 2017)

FY2017

Forecast (ended Mar. 2018)

VISION2020 Net Sales per Area (Total) -14-

Vs.2016 +2.6(+3.0%) Vs.2016 △1.3(△1.5%) Vs. 2016 +11.7(+35.2%) Vs. 2016 △0.7(△2.1%)

US EU Asia & Others JPN

Unit: ¥ billion FY2016

Result FY2017

Forecast

Information &

Communication

Audio

64.2 62.6

83.1 76.2

25.1 37.6

29.4 28.4

23.2 27.3

12.6 18.0

8.2

7.4

2.0 2.2

87.3 89.9 95.6 94.3

33.3 45.1 31.3 30.6

Increase of Sales +1.7


Increase of Sales △3.6


Increase of Sales +11.2


Increase of Sales △0.7

Exchange Rate Impact -

VISION2020 Operating Income (vs. 4/27) -15-

Operating Income

vs. 4/27 +2.5

Negative Factor


FY2017

4/27

Increase

Or

Sales Impact

Exchange

Rate

Impact

Cost

Improvement

Product Mix

Selling Price

R&D

Cost

Other

Expenses

FY2017

10/30

6.5

9.0

+1.4

+1.1 +0.5

+1.4

+1.6 △3.4

VISION2020 Operating Income (vs. 2016) -16-

Operating Income

vs. 2016 +3.3

Negative Factor


5.6

9.0

+2.5

+0.8

+7.3 +0.9

△ 4.4

△ 3.7

FY2016 Increase

Or

Sales Impact

Exchange

Rate

Impact

Cost

Improvement

Product Mix

Selling Price

R&D

Cost

Other

Expenses

FY2017

(10/30 Corrected)

VISION 2020 Investment & Asset planning -17-

Point

１．R&D △0.9

・Efficient Designing(Software)△3.1

・Capitalization of Software R&D+1.8


Others

２．Capital Investment +0.2

・Capital Investment+2

・Capitalization of Software R&D△1.8

Others

３．Depreciation +0.6


・Continuous Investment Over Depreciation+0.2

４．Inventory +2.7

・Keeping Adequate Level

Unit: ¥ billion

FY2016 FY2017

R&D

FY2016 FY2017

CAPEX

FY2016 FY2017

Amortization

Depreciation

FY2016 FY2017

Inventory

18.3

7.9 6.4

25.6

17.4

8.1 7.0

28.3

0

50

100

150

200

250

300

350

VISION 2020

-10

0

10

9.8

△12.1

△2.3

3.4 3.4

6.9

FY2016

Cash Flow Forecast -18-

Investment

CF Free

CF

Operating

CF

Unit: ¥ billion

FY2017

Increase cause Decrease cause

・ Profit before income taxes

＋7.1

・Inventory△2.7

・Depreciation+7.0 ・Exchange Rate Impact

others

２．Investment CF△12.1

Increase Cause Decrease Cause

・Tangible/Intangible Assets△8.1

・Loan Receivable△4.1

others

Point

Free CF△2.3

１．Operating CF＋9.8

VISION2020 Balance Sheet Forecast

0

50

100

150

FY2017 Forecast

200

150.5

70.6%

Equity Ratio

Net Assets

Total Asset

210.3 Point

１．Total Asset 210.3(+8.5)

(inc. Exchange rate impact +5.9)

①Current Assets 135.5（+7.1）

(inc. Exchange Rate Impact +5.2)

・Account Receivable +1.9

・Inventory +2.7

・Loan Receivable +4.1

Others

②Fixed Assets 74.8(+1.3)

(inc. Exchange Rate Impact +0.7)

・Tangible/Intangible asset ＋8.1

・Depreciation △7.0

Others

２．Net Assets 150.5(+5.2)

・Retained Earnings +2.7

(Profit attributable to owners of parent +4.8,

Devidend △2.0)

・Foreign Currency Translation Adjustments+2.4

Others FY2016 Result

145.3

71.1%

Equity Ratio

Net Assets

Total Asset

201.8

-19-

Unit: ¥ billion

Cash

53.3

Account

Receivable

39.4

Inventory

25.6

Others

10.0

Current

Assets Account

Payable 24.0

ー

Others 32.5

Liability

Property

30.5

Investment

43.0

Fixed

Assets

Cash

50.7

Account

Receivable

41.4

Inventory

28.3

Others

15.1

Current

Assets Account

Payable 25.3

ー

Others 34.5

Liability

Property

31.4

Investment

38.9

Fixed

Assets

VISION2020 -20-

FY2017 2 QTR Consolidated Financial Result Overview...FY2017 2nd QTR Consolidated Financial Result...

Documents

Transcript of FY2017 2 QTR Consolidated Financial Result Overview...FY2017 2nd QTR Consolidated Financial Result...