Upload
nikkei225stockscom
View
303
Download
2
Embed Size (px)
DESCRIPTION
Citation preview
30 July 2012
FY2012 1Q Business ResultsFY2012 1Q Business Results
1
Fujikura Ltd.
Contents
1. Impact of the Floods on Business results
2. Summary of FY2012 1Q business results and estimation of 1st half business results
3. Segment Information
2
Summary of FY2012 1Q business results
and estimation of 1st half business results�
Billions of yen
�
Latest
Estmation
FY2011
1Q
FY2011
1st HalfFY2011
FY2012
1Q
FY2012
1st Half
FY2012
1st HalfFY2012
Net Sales 132.9 268.2 509.0 120.6 240.0 240.0 500.0
Operating Income 3.4 6.3 13.3 3.2 5.0 5.0 13.0
Operating Income Margin�%� 2.6 2.4 2.6 2.7 2.1 2.1 2.6
Equity Method Income (Loss) 0.4 0.3 0.8 0.1 0.2 0.2 1.1
Ordinary Income (Loss) 3.0 4.9 9.1 2.8 3.0 3.0 9.0
Net Income (Loss) 0.1 1.0 (0.6) (1.1) 0.0 0.0 4.0
Net Income per Share (JPY) 0.46 2.81 (17.28) (3.27) 0 0 11.09
Devidend per Share (JPY) - - 5.0 - 2.5 2.5 5.0
Devidend Ratio (%) - - 45.1
Exchange Rate�JPY/USD�
�Average for Periods�
Copper Price �'000/ton��Average for Period�
Results
79.07 80.19 80.0079.50
Projection on May 9
80.00
650650772 673718
81.72 79.74
650793
3
1. Impact of the Floods on Business results
4
Impact of the Floods on Business results ���
The latest status of Recovery
� The fixed cost related to the suspended operations and cost for the recovery of production bases which suffered damage by the flood still affect on the business results.
� FPC business division will recover more than 70% of production capacity for the double-sided and multi-layer FPC within the 1st half of FY2012 as originally projected and enhance the production system with the aim of receiving the orders.
� Connector business division has recovered the production systems in the 1Q FY2012 and maintains the equivalent level of net sales as pre-flood.
� FPC business division will establish the new production base in the higher altitude area (Kabinburi Industrial Zone) in Thailand by the end of FY2012, as originally planned.
5
������� ��������� ������������������
�Billions of yen�
FY2011
1Q
�Results� A
FY2012
1Q
�Results� B
GAP
(B – A)
FPC 16.1 3.5 (12.6)
Connector 7.0 7.2 0.2
Others 9.7 7.2 (2.5)
Automotive
Components13.6 22.2 (8.6)
Electronics & AutoTotal Net Sales 46.6 40.3 (6.3)
Operating Income (0.6) (0.5) 0.1
6
� The results of FY2011 1Q includes negative impact from the Great East Japan
Earthquake by JPY 6.0 billion in net sales and by JPY 2.0 billion in operating income.
The GAP in net sales and operating income between FY2011 1Q and FY2012 1Q in
excluding such impacts are respectively JPY 12.3 billion and JPY 1.9 billion.
�Billions of yen�
FY2011 FY2012
GAP�B - A�
FY2012
1QResults
2QResults
1st HalfResults
A
1QResults
2Q
�Est.�
1st half
�Est.�B
1st Half�Projection on May 9�
FPC 16.1 18.4 34.5 3.5 5.0 8.5 (26.0) 9.5
Connector 7.0 8.8 15.8 7.2 7.9 15.1 (0.7) 16.0
Others 9.7 9.7 19.4 7.2 7.5 14.7 (4.7) 14.3
Automotive Components
13.6 17.0 30.6 22.2 21.9 44.1 13.5 42.1
Electronics & AutoTotal Net Sales 46.6 53.9 100.5 40.3 42.2 82.5 (18.0) 82.0
Operating Income (0.6) 1.8 1.1 (0.5) (0.9) (1.4) (2.5) (1.3)
7
������� ��������� ������������������
� The results of FY2011 1Q includes negative impact from the Great East Japan
Earthquake by JPY 9.0 billion in net sales and by JPY 2.5 billion in operating income.
The GAP in net sales and operating income between FY2011 1Q and FY2012 1Q in
excluding such impacts are respectively JPY 27.0 billion and JPY 5.0 billion.
FY2011
2nd half Results
FY2012
1Q Results
Extraordinary Profit
Received Insurance 15.4 0.6
Extraordinary Loss
Repair and restoration Expenses (1.8)
Loss of fixed asset and inventory assets and others (16.0)
Fixed cost related to suspended operations and others (5.8) (1.5)
Restructuring cost and others (1.6)
Loss Total (23.4) (3.2)
Grand Total (8.0) (2.6)
�������
Extraordinary Profit & Loss
� Posted the cost for repairing and restoration at the facilities which suffered the flood damage
� The fixed cost related to the suspension of operation is decreasing as recovery of operation in progress
� Restoration cost such as repairing expenses required aftertime and procurement cost of alternative equipment for the lost asset shall be covered by the insurance
(Billions of yen)
8
2�Summary of FY2012 1Q business results and estimation of 1st half business results
9
Summary of FY2012 1Q business results
and estimation of 1st half business results
( Billions of yen
�
Latest
Estmation
FY2011
1Q
FY2011
1st HalfFY2011
FY2012
1Q
FY2012
1st Half
FY2012
1st HalfFY2012
Net Sales 132.9 268.2 509.0 120.6 240.0 240.0 500.0
Operating Income 3.4 6.3 13.3 3.2 5.0 5.0 13.0
Operating Income Margin�%� 2.6 2.4 2.6 2.7 2.1 2.1 2.6
Equity Method Income (Loss) 0.4 0.3 0.8 0.1 0.2 0.2 1.1
Ordinary Income (Loss) 3.0 4.9 9.1 2.8 3.0 3.0 9.0
Net Income (Loss) 0.1 1.0 (0.6) (1.1) 0.0 0.0 4.0
Net Income per Share (JPY) 0.46 2.81 (17.28) (3.27) 0.00 0.00 11.09
Devidend per Share (JPY) - - 5.0 - 2.5 2.5 5.0
Devidend Ratio (%) - - 45.1
Exchange Rate�JPY/USD�
�Average for Periods�
Copper Price �'000/ton��Average for Period�
81.72 79.74
650793 772 673718
Projection on May 9
80.00
650650
Results
79.07 80.19 80.0079.50
10
Summary of FY2012 1Q business results
and estimation of 1st half business results
� Net sales excluding the impact from higher yen and the sudden drop of copper price, declined significantly at year-on-year affected by the flood in Thailand even though it had recovered from the demand drop due to the Great East Japan Earthquake.
� Operating income was JPY 3.2 billion which is the same level as the last fiscal year, because of the recovery of the demand due to the Great East Japan Earthquake and the increasing demand for the emerging countries, despite decrease in the profit affected by the flood in Thailand.
� Net income was JPY minus 1.1 billion as a result of recording JPY 3.6 billion of the damage and loss for the flood in Thailand and others, as the extraordinary loss.
� The forecast of 1st half business results remains unchanged from the projection dated May 9; net sales: JPY 240 billions, operating income: JPY 5.0 billions, net income: zero.
11
�����
�����
�����
FY2011 1Q FY2012 1Q
Canyon chart between FY2011 1Q and FY2012 1Q
�Billions of yen�
Net salesNet sales
(1.6)
Decline by the
higher yen
Exclusion of the
negative affect by
the Great East
Japan Earthquake
Compared with FY2011 1Q: (12.3)
Decline by the
sharp drop of
copper price
(3.6)
12
+7.0
Exclusion of special
factor �
(14.1)
Declined due to the
Flood in Thailand
������
FY2011 1Q FY2012 1Q
Canyon chart between FY2011 1Q and FY2012 1Q
�
Billions of yen�
Operating incomeOperating income
(0.3)
Decline by the
higher yen
Exclusion of
special factor �
(2.8)
Compared with FY2011 1Q (0.2)
13
Decline by the
sharp drop of
copper price
+0.2
Exclusion of the
negative affect by
the Great East
Japan Earthquake
+2.7
Declined due to the
Flood in Thailand
Summary of FY2012 1Q business results
FY2011
1Q
FY2012
1QGAP
Operating Income 3.4 3.2 (0.2)
Equity Method Income
(Loss)0.4 0.1 (0.3)
Ordinary Income 3.0 2.8 (0.1)
Extraordinary Profit 0.0 0.9 0.9
Extraordinary Loss 1.3 3.6 2.3
Income before TAX 1.6 0.2 (1.5)
TAX expenses 1.3 1.2 (0.1)
Minority interest 0.1 0.1 0.0
Net Income 0.1 (1.1) (1.3)
� Extraordinary profit and loss
Major item of extraordinary loss
Major item of extraordinary loss
�
Billions of yen
�
FY2012 1Q
Damage and loss by the Flood in Thailand
3.2
14
Major item of extraordinary profit
Major item of extraordinary profit
FY2012 1Q
Received insurance 0.6
������������ �����
As of March
31, 2012
As of Jun
30, 2012GAP
�Assets� 489.4 508.8 19.4
Current Assets 251.7 265.1 13.4
Cash and Deposits 59.6 75.4 15.7
Notes and Account receivable 116.4 112.2 (4.1)
Inventories 53.1 55.0 1.9
Fixed Assets 237.7 243.7 5.9
Tangible Fixed Assets 147.6 152.5 4.9
Intangible Fixed Assets 5.6 8.3 2.7
Sub-Total 153.2 160.9 7.6
Total Investments
and Other assets84.4 82.7 (1.7)
�
Billions of yen
�15
Increased due to
the advance
funding for
repayment of
long-term loan
������������ ������
Billions of yen
�
As of March
31, 2012
As of Jun
30, 2012GAP
Total 489.4 508.8 19.4
�Liabilities� 305.2 332.9 27.6
Notes and Account
Payable74.6 66.7 (7.9)
Interest-bearing Debt 168.3 200.2 31.9
Other Current Liability 41.7 45.4 3.6
�Net Assets� 184.2 175.9 (8.2)
Shareholder’s Equity 192.5 190.5 (2.0)
Total Valuation and
Translation Adjustments(20.2) (26.3) (6.1)
Minority Interests 11.8 11.8 (0.0)
16
Increased due to the
advance funding for
repayment of long-
term loan
3. Segment Information
17
Net sales Operating Income and Margin
Segment FY2011 1Q
FY2012
1Q
FY2012
2Q
(Est.�
FY2012
1st half
(Est.�
FY2011
1�
FY20�2
1�
FY2012
2�
�Est.�
FY2012
1st half
�Est.�
Telecom-
munications26.6 27.9 26.8 54.7
2.8 1.9 1.0 2.9
10.6% 6.8% 3.7% 5.3%
Electronics & Auto
46.6 40.3 42.2 82.5(0.6) (0.5) (0.9) (1.4)
(1.3)� (1.3)% (2.1)% (1.7)%
Metal cable & Systems
54.3 48.2 46.2 94.4(0.1) 0.3 0.4 0.7
(0.2)� 0.8� 0.9� 0.8�
Real estate 2.7 2.7 2.7 5.41.3 1.3 1.2 2.5
48.1% 48.1% 43.1% 45.6%
Others 2.6 1.4 1.5 2.90.0 0.1 0.1 0.2
0.0% 7.1% 4.6% 5.8%
Consolidated Total
132.9 120.6 119.4 240.03.4 3.2 1.8 5.0
2.6% 2.7% 1.5% 2.1%
Result and Estimation by quarter and segment
�Billions of yen�
18
Telecommunications
Engineering
� The favorable demand in the market in China in FY2012. Revenue increased due to the recovery demand of the Great East Japan Earthquake and the full operation of optical fiber preform manufacturing in China
� Net sales in FY2012 2Q is estimated to be the same level as FY2011 1Q
Optical Components
� The arc fusion splicer had favorable sales in China and the demand of optical components in both domestic and overseas market was strong
� FY2012 2Q is estimated to be decreased in revenue due to severe competitions and decreasing demand in the arc fusion splicer caused by the seasonal factors
Optical fiber/Cable
� The revenue of FY2012 1Q decreased due to slack demand in the United States
� The revenue of FY2012 2Q is estimated to remain same
�FY2012 1Q results was decreased in profit due to the increasing competition in the domestic market despite increase in revenues reflecting the strong demand in China
�The revenue and profit of optical components estimated to be decreased, and the ones of both optical fiber/cable and engineering estimated to remain same, in FY2012 2Q
Net salesNet sales�
Billions of yen
�
4.6 3.9 3.8
14.8
14.715.8
8.28.17.3
27.926.6 26.8
10.6%
6.8%
3.7%
FY2011 1Q FY2012 1Q FY2012 2Q
(Est.)
Optical Fiber/Cables
Optical Components
Engineering
Operating Income Margin
19
Electronics & Auto
�Automotive components division recovered from the Great East Japan Earthquake, but Electronics division suffered the damage by the Flood in Thailand. As a result, the revenue of the segment decreased at year-on-year
�Electronics division is estimated to increase in revenue. Automotive components division is estimated to decrease in revenue and income because of summer shut down in Europe despite steady demand in the emerging countries
� The revenue still decreased due to the Flood in Thailand in FY2012 1Q
� The revenue is estimated to increase as the major factories restarts the operation and accordingly receives the new orders
Connector
Net salesNet sales�
Billions of yen
�
Automotive Components
� Steady results in FY2012 1Q by contribution of the sales for mobile phone base stations
� The revenue is estimated to increase by receiving strong orders of smartphones
� The revenue still decreased due to the Flood in Thailand in FY2012 1Q
� The revenue is estimated to increase due to favorable demand of the components for HDD in F2012 2Q
Other Electronics
� The revenue in FY2012 1Q increased due to the demand of Japanese customers recovering from the earthquake and increasing demand mainly from the emerging countries
� FY12012 2Q is estimated to decrease in revenue and income because of summer shut down in Europe despite steady demand in the emerging countries
FPC
21.922.1
13.6
7.57.2
9.7
7.97.27.0
16.1 5.03.5
46.640.3 42.2
�
���%�
1.3%�
��3%
FY2011 1Q FY2012 1Q FY2012 2Q
(Est.)
FPCConnectorOther ElectronicsAutomotive ComponentsOerating Income Margin
20
Metal Cable & Systems
Metal Cable & Systems
� The profit in FY20121 1Q was restored due to the favorable demand of OPGW in the United States and the structural reform of the business despite the decrease in revenue because of copper price drop and downturn in the construction market
� The operating income in FY2012 2Q is estimated to remain same
�Tough environment in the power utility market in Japan
�Continue to improve the profitability by the structural reform of the business
Net SalesNet Sales
46.248.2
54.3
�0.2% 0.8% 0.9%
FY2011 1Q FY2012 1Q FY2012 2Q (Est.)
Operting Income Margin
������
��
������
��
�������
������
������������
���������������
������ ������!�������"#
$%& '$& '(�
21
(Billions of yen)
22
Special Notes�Statements in this presentation that relate to future results and events (including statements regarding Fujikura’s revenue and earnings guidance) are based on Fujikura’s current expectations. Actual results in future periods may differ materially from those currently expected because of a number of risks and uncertainties.These factors include the effects of general economics on the level of demand for Fujikura’s products and services, and on Fujikura’s ability to manage supply and delivery logistics; the level and intensity of competition in the electronic an telecommunication equipment industries, pricing pressures that result, the ability of Fujikura to timely and effectively manage product transitions, component/material availability and cost; the ability of Fujikura to develop new products based on new or evolving technology; and the ability of Fujikura to manage its inventory levels to minimize excess inventory.
Contact:Investor Relation Group Tel: +81-305606-1112, FAX: +81-3-5606-1539, E-mail: [email protected]
����������� � �� �� �� �� �� ������� ������� ������ �� �� � ��!" ��� ����� ��!"#$%&'() *&+,-./(+), 0!� 0!1 0!2 3!� ��!3 �2!0 ��!2 3!� 3!� �1!� �2!�#$%&'() /45$46,6%7 ��!0 ��!0 ��!0 �2!1 �3!� ��!� 23!1 �2!3 ��!3 ��!1 �8!196:&6,,-&6: �!1 �!2 �!1 �!� 8!� 0!8 �0!� �!8 �!3 0!0 8!��1!1 �2!0 �2!0 �3!� 2�!� 2�!3 ��1!� �0!8 �1!3 2�!0 2�!8*;/ �1!� �3!� 3!� 2!� ��!2 ��!� �0!8 �!2 2!� 3!2 8!2/466,'%4- 0!� 3!3 0!� 0!� �2!3 ��!� ��!� 0!� 0!8 �2!� �1!�<=%454%&>,/45$46,6%7 ��!1 �0!� �8!2 ��!8 ��!1 ��!� 0�!� ��!� ��!8 ��!� ��!�#%?,- ,),'%-46&'7 8!0 8!0 2!� 0!� �8!� ��!2 ��!8 0!� 0!2 ��!0 ��!��1!1 2�!8 ��!� ��!� ���!2 3�!1 �3�!� ��!� ��!� 3�!2 3�!�2�!� 2�!1 �3!� �3!3 ���!8 80!� ���!8 �3!� �1!� 8�!� 81!��!0 �!3 �!0 �!0 2!2 2!� ��!8 �!0 �!0 2!� 2!2�!1 �!� �!� �!8 �!8 �!� 3!� �!� �!2 �!8 �!����!8 ��2!� ��8!� ���!1 �13!� ���!0 2�8!� ���!1 ��8!� ���!� ���!�@AB �CDE CDFGH �!3 �!0 �!� �!� �!� �!� 1!0 �!8 �!� �!8 �!0��!1" �!3 ��!�" � �!� ��!�" �!8 ��!2" ��!8" ��!�" ��!�"��!�" ��!0" �!� �!3 ��!3" �!� �!� �!� �!� �!0 �!��!� �!� �!� �!� �!1 �!� 2!� �!� �!� �!2 �!�� ��!�" �!� �!� ��!�" �!� �!� �!� �!� �!� �!��!� �!8 �!� �!1 1!� 0!� ��!� �!� �!3 2!� 2!�
�����������
9-,() 97%(%,
������������
9),'%-46&'7 I <=%4J,),'455=6&'(%&467
9-,() 97%(%,9),'%-46&'7 I <=%4
��� K��� L�������MNLO PQ�P�L� R�S 8TUVWXYZ [\Y UZ]^_[]^W\Z W` \U] Z[aUZ [\Y WbUX[]^\c ^\VW_U de ZUc_U\]
f,%() /(+), I gh7%,57f,%() /(+), I gh7%,57#%?,-7J4%()
#%?,-7J4%()J,),'455=6&'(%&467