1 DAINIPPON SCREEN MFG.CO.,LTD. Business Results & Business Forecast Second Quarter Ended September 30, 2009 November 10, 2009 DAINIPPON SCREEN MFG.CO.,LTD. Business Results & Business Forecast Second Quarter Ended September 30, 2009 November 10, 2009 Cautionary statement with respect to these materials; The earnings forecasts contained in these materials and communicated verbally, are based on the most recent information available to Dainippon Screen. However, rapid changes can occur in Dainippon Screen’s business environment, due to factors such as global economic changes, technological developments in the electronics industry and changes in the semiconductor and LCD panel markets. As a result, Dainippon Screen’s earnings performance and achievements may materially differ from those expressed in these materials. Figures have been rounded down to eliminate amounts less than ¥100 million yen, except per share figures.
21
Embed
Business Results&Business Forecast Second Quarter ......• Progress of the Business Restructuring Plan • Financial & Capital Area 3 Business Results Second Quarter Ended September
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
1
DAINIPPON SCREEN MFG.CO.,LTD.Business Results & Business Forecast
Second Quarter Ended September 30, 2009November 10, 2009
DAINIPPON SCREEN MFG.CO.,LTD.Business Results & Business Forecast
Second Quarter Ended September 30, 2009November 10, 2009
Cautionary statement with respect to these materials;The earnings forecasts contained in these materials and communicated verbally, are based on the most recent information available to Dainippon Screen. However, rapid changes can occur in Dainippon Screen’s business environment, due to factors such as global economic changes, technological developments in the electronics industry and changes in the semiconductor and LCD panel markets. As a result, Dainippon Screen’s earnings performance and achievements may materially differ from those expressed in these materials. Figures have been rounded down to eliminate amounts less than ¥100 million yen, except per share figures.
2
Business Results Second Quarter Ended September 30, 2009
President & COO Masahiro Hashimoto
Business Results Business Results Second Quarter Ended September 30, 2009Second Quarter Ended September 30, 2009
President & COOPresident & COO Masahiro HashimotoMasahiro Hashimoto
AgendaAgenda•• 2Q Business Result & Analysis 2Q Business Result & Analysis •• Business Environment & Order SituationBusiness Environment & Order Situation•• Progress of the Business Restructuring PlanProgress of the Business Restructuring Plan•• Financial & Capital AreaFinancial & Capital Area
3
Business Results Second Quarter Ended September 30, 2009
Business Results Business Results Second Quarter Ended September 30, 2009Second Quarter Ended September 30, 2009
4
2Q FY2010 Business Result2Q FY2010 Business Result
Previously announced : JPY (6.0)bnPreviously announced : JPY (6.0)bn
2H Business Forecast2H Business Forecast
Operating IncomeOperating Income
7
101%
105%
87%
109%
vsvs Forecast Forecast ((%%))PointPoint
1H Results1H Results
Bottomed out in 1Q and have been improving
Resulted as planned
Remained low, but showed the recovery trend
Increased significantly for foundries
17.9GA
1.8 Other Electronics
9.4FPD
37.8SPE
(Unit:Billions of JPY)
1H Result JPY (1H Result JPY (1515..77)bn)bn
0.0
0.1
(1.8)
vsvs Forecast Forecast (amount(amount))
PointPoint1H Results1H Results
Slightly increased due to cost reduction measures
Declined compared to the forecast due to increased provision of inventories
(0.1)Other
(1.7)GA
(13.8)Electronic Equipment & Components
(Unit:Billions of JPY)
Net SalesNet Sales
Operating IncomeOperating Income
1H Result JPY 67.3 1H Result JPY 67.3 bnbn Forecast JPY65.5bnForecast JPY65.5bn
11stst Half FY2010 Business Result AnalysisHalf FY2010 Business Result Analysis
SPE: Semiconductor Production Equipment, FPD: FPD Production Equipment, GA: Graphic Arts Equipment.
8
Net Sales/Operating Income(Consolidated)
0
20
40
60
80
100
FY09/1H FY09/2H FY10/1H FY10/2H-20
-15
-10
-5
0
5Net Sales(Left)Operating Income(Right)
Electronic Equipment & Components
<SPE>・Foundries’ investment accelerated beyond our expectation・DRAM price reached up to profitable level
and both of DRAM and Flash makers started investment for miniaturization
<FPD>・New capital expenditures became active・LCD panel makers began to shift its investment location to China
2nd Half Outlook2nd Half Outlook
1st Half1st Half
<SPE>・Memory makers are expected to continue capital expenditures for miniaturization・Orders from foundries are firm although slowing down a little
<FPD>・Businesses in China and Taiwan have been increasing・LCD production equipment compatible with spacer process,
utilizing Inkjet printing technology began users’ evaluation ・Direct imaging equipment is in the final stage toward mass production・Promoting product development utilizing nozzle-printing method
(Unit: Billions of JPY)
Business Environment by SegmentBusiness Environment by Segment
9
・Business situation in Japan, U.S. and the Europe is expected to remain harsh, but U.S. had a good start thanks to successful results in the “Print” exhibition
・Asia is upward by stimulating potential demand・POD sales have been increasing since the start of 2H・Both POD and CTP sales have been improving
Graphic Arts EquipmentGraphic Arts Equipment
・Economic recession and higher yen in Japan, America and the Europe
・Unit sales of main products decreased year on year CTP : slightly over 50% POD : 40%
・Implementing sales strategy by region and expanding production in the China factory
Net Sales/Operating Income(Consolidated)
0
7
14
21
28
35
FY09/1H FY09/2H FY10/1H FY10/2H-3
-2
-1
0
1
2
3Net Sales(Left)Operating Income(Right)
2nd Half Outlook2nd Half Outlook
1st Half1st Half
(Unit: Billions of JPY)
Business Environment by SegmentBusiness Environment by Segment
10
30.6
44.0
23.834.2
18.213.4
22.6
3.8
16.7
12.11.9 1.2
2.7
2.0
15.1
16.5
7.216.1
17.5
2.2
2.0
1.2
2.0
0.6
13.6
14.4
7.7
16.6
12.3 10.1
19.0
15.0
0.3
0.5
0.4
0.2
0.6
0.40.4
0
30
60
90
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q-20
-10
0
10
20
SPE FPD Other Equip GA Other Operating Income(Right)
44.444.4
▲▲6.6.11
41.441.4
▲▲6.6.332525..9 9
▲▲99..55
(Unit: Billions of JPY)
Blue italic figures show quarterly total sales.
OperatingIncome
NetSales
FY08 FY09 FY10
Quarterly Net Sales and Operating Income Quarterly Net Sales and Operating Income (Consolidated)(Consolidated)
11
29.9 25.0 29.9 31.4
8.9 7.4 11.2
34.3
11.427.3
28.8
4.1
19.314.4
16.3
11.2 7.4
11.3
0.2 0.03
0.1
1.6
4.8
0.80.82.2
1.8
2.21.4
2.40.9
0.40.8
15.4
10.8
0
0.010.04
0.10.1
0
25
50
75
100
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q0
40
80
120
160SPE FPD Other Equip GA Other Order Backlog(Right)
63.663.6
19.619.6
60.260.2
2020..55
51.651.6
7700..55
Order Backlog
OrderReceived
Blue italic figures show quarterly total orders received
(Unit: Billions of JPY) FY08 FY09 FY10
Quarterly Orders Received and Order Backlog Quarterly Orders Received and Order Backlog (Consolidated)(Consolidated)
12
2Q Order received : JPY34.3bn(Consolidated)Orders from foundries increased substantially and memory makers started investment
2Q Order received : JPY2Q Order received : JPY334.3bn4.3bn((ConsolidatedConsolidated))Orders from foundries increased substantially Orders from foundries increased substantially and memory makers started investment and memory makers started investment
Semiconductor Production Equipment Semiconductor Production Equipment Quarterly Quarterly OrOrder der RReceivedeceived Ratio by Device Application Ratio by Device Application (Nonconsolidated)(Nonconsolidated)
FPDFPD Production Equipment Production Equipment Quarterly Orders Received by Generation Quarterly Orders Received by Generation (Nonconsolidated)(Nonconsolidated)
Japan Taiwan Korea China
0% 20% 40% 60% 80% 100%
Capital Expenditures for G8 resumedMost sales are covered by Coater/developersCapital Expenditures Capital Expenditures for G8 for G8 resumedresumedMost sales are covered by Most sales are covered by Coater/developersCoater/developers
1H orders by location
(Nonconsolidated)
14
Progress of the Business Restructuring PlanProgress of the Business Restructuring PlanProgress of the Business Restructuring Plan
The target of cost reduction: JPY 40 billionTotal amount of the actions implemented is about 35 billion yenThe target of cost reduction: JPY 40 billionThe target of cost reduction: JPY 40 billionTotal amount of the actions implemented is about Total amount of the actions implemented is about 35 billion yen35 billion yen
Progress of the Business Restructuring PlanProgress of the Business Restructuring Plan
Mar. 2008 Jun. Sept. Dec. Mar.2009 Jun. Sept.-0.50
0.50
1.50
2.50
Interesting-bearing Debt Cash and Time DepositsEquity D/E RatioNet D/E Ratio
100
1,50
50
*Lease obligations are not included in interesting-bearing debt as end of Mar. 2008
InterestingInteresting--bearing Debt and D/E Ratiobearing Debt and D/E RatioInteresting-bearing D
ebtEquity
Cash
Net D
ebt
Interesting-bearing Debt (Unit: Billions of JPY) D/E Ratio
19
Decreasing interest-bearing debt - Business environment has been better cash flow has been improving
Accelerating advance payment for interest-bearing debtMinimize the risk of increasing interest on debt
Expanding EquitySelling of securities holdings
1.191.141.110.250.10Net D/E ratio
2.01
25.9%
Sept. 2009
1.851.480.470.36D/E Ratio
27.5%28.1%41.9%41.6%Equity Ratio
Jun. 2009Mar. 2009Mar. 2008Mar. 2007
Focus on improving “Equity ratio” and “D/E ratio” without capital increaseFocus on improving Focus on improving ““Equity ratioEquity ratio”” and and ““D/E ratioD/E ratio”” without without capital increasecapital increase
Financial AreaFinancial Area
20
SPE: Sales rebounded strongly.We focus on sales promoting for single wafer cleaning tools and Flash Lamp Annealing systems.
FPD business is in a trend of recovery but full recovery will be in the next fiscal year.We focus on gaining new business area.
GA business have remained as planned.We focus on additional cost reduction for CTP and sales expansion for POD.
Complete the business restructuring plan Accomplishment of BEP JPY150bn Positive profit in the next fiscal year
Strengthening the financial base
Business areaBusiness areaBusiness area
Areas we focus onAreas we focus onAreas we focus on