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All Rights Reserved, Copyright © FURUKAWA ELECTRIC CO., LTD. 2018
IR Business BriefingMagnet wire business
Shuichi TanakaMagnet wire Division Manager
June 8, 2018
All Rights Reserved, Copyright © FURUKAWA ELECTRIC CO., LTD. 2018
Forward-Looking StatementsProjections of future sales and earnings in these materials are “forward-looking statements.”Management offers these projections in good faith and on the basis of information presently available. Information in these statements reflects assumptions about such variables as economic trends and currency exchange rates. Forward-looking statements incorporate known and unknown risks as well as other uncertainties that include, but are not limited to, the following items.
• Economic trends in the U.S., Europe, Japan and elsewhere in Asia, particularly with regard to consumer spending and corporate expenditures.
• Changes in exchange rates of the U.S. dollar, euro, and Asian currencies. • The Furukawa Electric Group’s ability to respond to rapid advances in technology. • Changes in assumptions involving financial and managerial maters and the operating environment. • Current and future trade restrictions and related matters in foreign countries. • Changes in the market value of securities held by the Furukawa Electric Group.
Due to the above factors, actual sales, earnings, and other operating results may differ significantly from Looking Statements in these materials. In addition, following the release of these materials, Furukawa Electric Group assumes no obligation to announce any revisions to forward-looking statement in these materials
CopyrightsFurukawa Electric Co.Ltd. retains copyrights and other rights involving these materials. Copyright and otherwise reusing these materials in any way without prior consent is prohibited.
Furukawa Electric Co., Ltd
2
All Rights Reserved, Copyright © FURUKAWA ELECTRIC CO., LTD. 2018
1. What is magnet wire
2. Introduction of the Magnet Division manufacturing bases
3. Key products, applications and customer segments
4. Trends in the focal product markets
5. Growth strategy
6. Investment plan
7. Forecasts for the focal products in FY2020
8. Market that should be proactively targeted
Contents of today’s explanation
3
All Rights Reserved, Copyright © FURUKAWA ELECTRIC CO., LTD. 2018 4
What is winding wire (British English) / magnet wire (American English)
As a component
As a product
Coil, antennaTransformer Motor / generator
・As an inductor・Electrical signal⇔Electromagnetic signal ・High voltage⇔Low voltage ・Electrical energy⇔Mechanical energy
All Rights Reserved, Copyright © FURUKAWA ELECTRIC CO., LTD. 2018
Introducing the Magnet Wire Division –manufacturing bases
5
●
●●
FMGT
FEC:100%
FMGW:21%
FEC:49%FMGW:100%
●
●
Jung Shing Wire Co., LTD.(Tainan, Taiwan;
Dongguan, Suzhou, China)
Furukawa Magnet Wire Co., LTD.(Mie, Niigata, Japan)
FE Magnet Wire Malaysia SDN.BHD.(Kelang, Malaysia)
Essex Furukawa Magnet Wire Europe GmbH(Bad Arolsen, Germany)
FEC:100%
●
●
●
Taiwan Furukawa Magnet Wire Co., LTD.( Taoyuan, Taiwan)
All Rights Reserved, Copyright © FURUKAWA ELECTRIC CO., LTD. 2018
Busin
ess
Key products ApplicationsMajor customer
segments
Main regions
Enam
ele
d w
ire
・Enameled wire ・Motors, In-vehicle motors・Transformers, Inductors・In-vehicle relays, etc.
・Industrial machinery manufacturers・Household appliance manufacturers・Electronic component manufacturers
JapanAsia
・Rectangular enameled wire / HVWW®
・Alternators・Motor generators
・Automakers・Electric componentmanufacturers
Japan
・Ribbon wire ・Inductors for smartphones and tablets・In-vehicle inductors
・Electronic component manufacturers
JapanAsia
Enam
ele
d w
ire
deriv
ativ
es
・TEX (Triple insulated wire)・SUS wire
・PIT (Polyimide tubing)
・Various power transformers・Braided tubing for emission gas・Mesh for screen printing・Insulation sleeves, Catheters for medical use
・Electronic component manufacturers・Automotive product manufacturers
JapanAsia
Key products, applications and customer segments
6
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Expand the business in accordance with the trends in the xEV and electronic components markets. A big wave is coming!
0
500
1,000
1,500
2,000
2,500
Smartphones – Actual and forecasted production
by region (million units)
Japan China
Asia North America
Central and South America Europe
Other
(Referenced materials from Fuji Chimera Research Institute)
Trends in the focal product markets
Changes in the vehicle electrification market(worldwide) (1,000 vehicles)
0
5,000
10,000
15,000
20,000
25,000
30,000
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
20
20
20
21
20
22
20
23
20
24
20
25
20
26
20
27
20
28
20
29
20
30
HEV
PHEV
EV Forecasted figures
(Source) Created by the Mizuho Bank Industry Research Department based on materials from JATO JAPAN and various countries’ automotive industry associations
(Note)Figures from 2017 were forecast by the Mizuho Bank Industry Research Department
HVWW®Rectangular enameled wire
Ribbon wire
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Growth strategy of the
Magnet Wire Division
Structural reforms, product mix → Focus on profit, and move towards a growth strategy based on high value-added products
Shift to high value-added products that only Furukawa can supply
Shift from round to flat
Large items: HVWW®
rectangular enameled wire
Small items: Ribbon wire
Growth strategy
Large itemsRound
enameled
Small itemsRound
enameled
HVWW®
BEV/PHEV/HEV vehicles
xEV
MG / Reactor
5G
Chip inductor
High voltage resistant rectangular wire
HV rectangular wire(HVW)Enameled wire
Specialized magnet wireRibbon wireEnameled wire
Rib
bon
wire
En
am
ele
d
Recta
ng
ula
rw
ire
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Investment plan
Total capital investments over the next 3 years are planned to be 30% higher than last 3 years.Actively utilize the overseas bases in order to respond to the future market shift to EV.
Major investments and venture capital financing for 2020 mid-term
9
FY2015-FY2017 actual FY2018-FY2020 plan
Capital investments in Japan
FMGW Mie Plant
FMGW Shirane Plant
Increase production of HVWW®
Increase production of enameled rectangular wire
for automobilesIncrease production of
ribbon wire
Increase production of HVWW®
Overseas capital investments
FMGT Taiwan
FEMM Malaysia
Increase production of ribbon wire
Increase production of enameled rectangular wire
for automobiles
Venture capital financing
Overseas JV(Germany)HVWW® production
network(EFMWE)
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HVWW® and ribbon wire will steadily grow and contribute to profits along with the expanding market!
Forecasts for the focal products in 2020
HVWW® volume Ribbon wire volume
0
100
200
300
400
500
600
2015
実績
2016
実績
2017
実績
2018
計画
2020
計画HVWW (Second generation, 2016
results=100)
0
50
100
150
200
2015
実績
2016
実績
2017
実績
2018
計画
2020
計画
Ribbon wire (2016 results=100)
Second generation HVWW® Ribbon wire
2015 actual
2016 actual
2017 actual
2018 plan
2020 plan
2015 actual
HVWW (Second generation, 2016 results=100)
2016 actual
2017 actual
2018plan
2020 plan
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高性能モータはHVWW®+厚皮膜平角線。当社は高電圧市場を中心に狙っていく。
Market that should be proactively targeted(Vehicle electrification market)
Motor characteristics and market size in 2025
Low End
High End
Volume: vehicles/year: Extracted from 2016 data from Sogo Planning
Normal coating (round wire)
Enameled rectangular wire & Thick coated rectangular wire
HVWW®
Middle End
Magnet
wire
use
d
Strategically targeted domains863,000 vehicles
6,038,000 vehicles
1,725,000 vehicles
The Magnet Wire Division will grow by “riding the xEV wave and wave to 5G”!
Mot
or o
utpu
t (kW
)
Motor voltage (V)
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Thank you!