Meiko Electronics Co Meiko Electronics Co Meiko Electronics Co., Ltd. Meiko Electronics Co., Ltd. Ltd Ltd Security Code # 6787 Security Code # 6787 FY2012 (ended March 2013) FY2012 (ended March 2013) FY2012 (ended March 2013) FY2012 (ended March 2013) May 21, 2013 May 21, 2013
Disclaimer Disclaimer This presentation contains forward This presentation contains forward- -looking statements concerning looking statements concerning Meiko Group’s future plans, strategies and performance. However, Meiko Group’s future plans, strategies and performance. However, Meiko does not publish this presentation as a disclosure document Meiko does not publish this presentation as a disclosure document based on the Financial Instruments and Exchange Act of Japan. based on the Financial Instruments and Exchange Act of Japan. These forward These forward- -looking statements are not historical facts, rather they looking statements are not historical facts, rather they represent assumptions and beliefs based on comprehensive data represent assumptions and beliefs based on comprehensive data currently available. currently available. Furthermore, the PWB business is subject to a number of risks and Furthermore, the PWB business is subject to a number of risks and uncertainties that relate to raw material price, conditions of customers’ uncertainties that relate to raw material price, conditions of customers’ market technological trends foreign currency exchange rates tax market technological trends foreign currency exchange rates tax market, technological trends, foreign currency exchange rates, tax market, technological trends, foreign currency exchange rates, tax rules, regulations, disasters, international conflicts and other factors. rules, regulations, disasters, international conflicts and other factors. Meiko therefore wishes to caution that actual results may differ Meiko therefore wishes to caution that actual results may differ materially from our expectations materially from our expectations materially from our expectations. materially from our expectations. -1-
Index Index II. FY2013 Forecast II. FY2013 Forecast II FY2013 F II FY2013 F t t I. FY2012 Results I. FY2012 Results 1. Consolidated Forecast for FY2013 …15 1. Summary of FY2012 …4 2. Analysis on Operating Income …16 2. Consolidated Financial Results …5 3. Sales Forecast – by product 3 Sales Forecast by product …17 17 4. Sales Forecast – by application …18 3. Overseas Production Sites …6 5. Sales Forecast – by factory …19 4. Analysis on Sales Target Unachieved …7 6 Sales Forecast 6. Sales Forecast – by nationality by nationality …20 20 5. Analysis on Operating Income …8 7. Analysis on Sales Forecast by Market …21 6. Sales Results – by product 8. FY2013 Business Strategy …22 …9 9 Initiatives & Forecast 9. Initiatives & Forecast - Guangzhou Plant Guangzhou Plant …23 23 7. Sales Results – by application …10 10. Initiatives & Forecast - Wuhan Plant …24 8. Sales Results – by factory …11 11. Initiatives & Forecast - Vietnam Plant …25 9. Sales Results – by nationality 9 Sales Results by nationality …12 12 12 Ishinomaki Factory 12. Ishinomaki Factory …26 26 10. Capital Investment …13 III. Technology Strategy III. Technology Strategy 1. Basic Strategy gy …28 …29 2. MDiM 3. Embedded Devices PCB …31 4. New Rigid-Flex PCB …33 5. New Heat Dissipation PCB …34 -2-
I FY2012 Results I FY2012 Results I. FY2012 Results I. FY2012 Results
1. Summary of FY2012 1. Summary of FY2012 Net Sales Resulted in 60 7 billion yen lower by 11 3 billion yen than planned Resulted in 60.7 billion yen, lower by 11.3 billion yen than planned at the beginning of fiscal year. Plants in China Plants in China -Decrease of order of PCBs for smartphone in USA. -Sharp decrease on Japanese TV market. -Decrease of order & production, raise of wage caused by D f d & d ti i f d b anti-Japanese movements in China. Vietnam Plant Vietnam Plant -Accelerated mass production of PCBs for smartphone toward Asian customers. -Delay of launch of mass production caused by cut in capital D l f l h f d ti d b t i it l investment. -4-
2. Consolidated Financial Results 2. Consolidated Financial Results Unit: million yen FY2011 YoY FY2012 YoY Net Sales 62,972 -15.7% 60,709 -3.6% Operating Income (loss) Operating Income (loss) 812 -75.4% 812 75.4% -605 605 - % 1.3% -1.0% Ordinary Income (loss) Ordinary Income (loss) 222 222 -89.6% 89 6% -386 386 - 0.4% -0.6% % Net Income (loss) 1,158 - -1,567 - % 1.8% -2.6% Net Income (loss) N t I (l ) 61.73 - -83.52 - per share (yen) Exchange rate 1USD - 78.96JPY 1USD - 83.31JPY -5-
3. Overseas Production Sites 3. Overseas Production Sites Guangzhou Plant Guangzhou Plant Guangzhou Plant Guangzhou Plant Unit: million yen Unit: million yen FY2012 YoY FY2013 YoY Net Sales 27,661 -2.5% 26,246 -5.1% Operating Income 1,570 63.5% 1,913 21.8% margin 5.7% 7.3% exchange rate g 1USD= 83.31JPY 1USD= 95.00JPY Wuhan Plant Wuhan Plant FY2012 YoY FY2013 YoY Net Sales 17,665 -7.1% 22,859 29.4% Operating Income -2,638 -381.4% 250 - margin -14.9% 1.1% exchange rate exchange rate 1USD= 83 31JPY 1USD= 83.31JPY 1USD= 95.00JPY 1USD= 95 00JPY Vietnam Plant Vietnam Plant Including CAD, tool, FY2012 YoY FY2013 YoY and half-finished Net Sales N S l 3 390 304 1% 3,390 304.1% 10 273 203 0% 10,273 203.0% PCBs. -1,461 -93.0% 1,025 Operating Income - Excluding other non- PCB business. margin margin -43 1% 43.1% 10 0% 10.0% exchange rate 1USD= 83.31JPY 1USD= 95.00JPY -6-
4. Analysis on Sales Target Unachieved 4. Analysis on Sales Target Unachieved -11.3 billion yen Unit: million yen Sales target Smartphone toward USA toward USA on April on April customers Apple 向け落ち込み 期首計画 720 Smartphone -30 ▲ 30 720 toward Asian customers 三星電子無線向け落ち込み TV & home -24 ▲ 24 Automotives A t ti electronics TV ・家電関連・事務機向け落ち込み Toward -22 ▲ 22 Japanese customers Other factors 日系車載向け落ち込み -5 その他 ▲ 5 -32 ▲ 31 Results Results 2012 年度実績 607 607 -7-
5. Analysis on Operating Income 5. Analysis on Operating Income Unit: million yen ll Marginal profit 810 -20 FY2012 Operating p g I ncome -630 Increase of FY2011 fixed cost fixed cost Operating Operating I ncome Exchange rate Exchange rate From: 1USD - 6.376RMB To:1USD - 6.300RMB -770 -605 Impact: -460 million yen Increase of SGA: Sales and General l d l SGA* Administration Expense -8-
6. Sales Results 6. Sales Results – – by product by product Unit: billion yen b ll Heat Di issipation Non-PCB FR/FPC Double-sided 4 layers 6 or more layers HDI 1.2 1.2 FY2012 FY2012 6.4 22.1 11.2 14.3 4.5 1.0 60.7 (%) 10 36 18 23 2 1 7 0.8 FY2011 8.7 23.6 10.3 11.1 7.4 1.1 63.0 (%) (%) 13 13 37 37 16 16 17 17 1 1 1 1 11 11 FY2012 1USD - 83.31JPY FY2011 1USD - 78.98JPY -9-
7. Sales 7. Sales Results Results – – by application by application Unit: billion yen b ll PC/H Amu Oth No In her PCBs usement ndustrial on-PCBs DD/SSD Office DSC AV Automobiles Mobile phones TV FY2012 FY2012 4.1 2.91.8 4 1 2 91.8 4 5 3 6 1 3 5 2 1.3 5.2 28 1 28.1 8 3 8.3 3.60.7 4.5 60.7 0.2 3 (%) 46 13 6 1 2 8 6 5 7 0 0.8 2.3 FY2011 24.9 6.0 8.1 5.8 4.5 2.1 0.3 7.4 0.8 63.0 3 1 3 1 (%) (%) 39 39 9 9 13 13 1 1 3 3 9 9 7 7 11 11 0 FY2012 1USD - 83.31JPY FY2011 1USD - 78.98JPY -10-
8. Sales 8. Sales Results Results – – by factory by factory Unit: billion yen b ll Ish Fu Ka Y Yamagata N Non-PCBs ukushima anagawa hinomaki Guangzhou Wuhan Vietnam FY2012 FY2012 26.0 14.6 3.2 2.4 2.7 7.3 0 4.5 60.7 (%) 42 24 5 4 4 12 7 0 FY2011 25.7 16.8 0.5 2.5 2.5 7.5 0.1 7.4 63.0 (%) (%) 40 40 26 26 1 1 4 4 4 4 11 11 0 0 11 11 FY2012 1USD - 83.31JPY FY2011 1USD - 78.98JPY Consists of PCB sales only. Excluding CAD, tool, and half-finished PCBs. -11-
9. 9. Sales Sales Results Results – – by nationality by nationality Unit: billion yen b ll North A America Europe China Japan Korea FY2012 FY2012 1.6 1 6 47.3 6.7 3.9 60.7 1.2 (%) 77 11 2 2 6 0.1 FY2011 54.2 4.5 2.1 2.1 63.0 (%) (%) 86 86 3 3 0 0 3 3 7 7 FY2012 1USD - 83.31JPY FY2011 1USD - 78.98JPY -12-
10. Capital Investment 10. Capital Investment Unit: billion yen b ll 17.8 Overseas 18.0 Japan 16.0 13.1 14.0 12.0 9.6 15.7 10.0 101.4 6.1 8.0 77.5 4.9 6.0 9.0 5 3 5.3 4 0 4.0 4.6 2.0 3.0 2.1 0.6 0.3 0.8 0 0 0.0 FY2008 FY2009 FY2010 FY2011 FY2012 -Inspection basis -13-
II. FY2013 Forecast II. FY2013 Forecast II. FY2013 Forecast II. FY2013 Forecast
Recommend
More recommend
