Consolidated Financial Result Digest FY2018 Q2 (Fiscal Year Ending March 31, 2018) October 31, 2017 Z TAIYO HOLDINGS CO., LTD. Any information incorporated in this document is not intended for suggestion of purchase or sale of equity share of the company. All the description and projection are based on the company's own analysis at the time of compilation, and their accuracy is not guaranteed. These data may be revised without prior announcement. The company will neither assume nor compensate any loss of anybody resulting from decision based on information provided here.
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Consolidated Financial Result Digest
FY2018 Q2 (Fiscal Year Ending March 31, 2018)
October 31, 2017
Z TAIYO HOLDINGS CO., LTD.
Any information incorporated in this document is not intended for suggestion of purchase or sale of equity share
of the company. All the description and projection are based on the company's own analysis at the time of
compilation, and their accuracy is not guaranteed. These data may be revised without prior announcement. The
company will neither assume nor compensate any loss of anybody resulting from decision based on information
provided here.
Terminology
Term Definition
PWB Printed wiring boards
SR “Solder resist ink” or “Solder mask”
PKG Semiconductor packages
1
Classification of Product
Group Category Type Remarks
PWB
insulating
materials
Rigid
high-end
Liquid
・SR materials for insulation and surface
protection use
regular
PKG Liquid/Dry Film
FPC Liquid/Dry Film
Build-up Liquid/Dry Film・build-up materials for interlayer insulation and
hole plugging use
Other
related
products
Other Liquid
・marking, etching, plating materials
・flux, solvent etc.
・conductive silver paste
2
1
3
2
4
3 FY2018 Q2 Overview
Sales volume increased year-on-year particularly in DF (Dry Film)
Revision to consolidated earnings forecasts for FY2018
Established a pharmaceutical business subsidiary,
TAIYO Pharma Co., Ltd.
Actual exchange rate of the yen against U.S. dollar almost the same as
expectation *Estimated exchange rate:1USD=111yen
Results summary
FY2018
FY2017 FY2018 FY2018 full year
Q2 Q2 Q2 new
results results forecasts forecasts
Net sales 23,442 25,784 +2,342 +10% 25,000 103% 50,000
Operating
income4,557 5,744 +1,187 +26% 5,200 110% 10,200
Ordinary
income4,602 5,690 +1,088 +24% 5,100 112% 10,100
Net income 3,623 3,998 +375 +10% 3,600 111% 7,000
progress
rate%YoY
4
JPY millions
FY2018 Q2 Consolidated Financial Results
25,78423,442
+179
+1,768
+395
5 FY2018 Q2 Net Sales (YoY)
Analysis of Net Sales JPY millions
Increase in
sales volume
of PWB etc.
Increase in
sales volume
of DF
Foreign currency
fluctuation,
change in product
mix, etc.
FY2017 Q2 FY2018 Q2
4,557 5,744
+91
+881
+215
6 FY2018 Q2 Operating Income (YoY)
Analysis of Operating Income JPY millions
FY2017 Q2 FY2018 Q2
Increase in
sales volume
of PWB etc.
Increase in
sales volume
of DF
Foreign currency
fluctuation,
change in product
mix, etc.
・Increase in assets due to strong sales and
increased foreign currency denominated assets
from depreciation of the yen
・Increase in short-term loans payable for the
purpose of hedging exchange risk
・Increase in retained earnings
24,903 25,657
14,267 15,493
4,416 4,464
48,800 50,005
92,38695,619
0
20,000
40,000
60,000
80,000
100,000
FY2017
full year
FY2018
Q2
71,846 74,134
20,540 21,485
92,386 95,619
0
20,000
40,000
60,000
80,000
100,000
FY2017
full year
FY2018
Q2
7
BS (YoY)
JPY millions
Assets Liabilities and Equity
Cash
Inventories
Other Current Assets
Fixed Assets
Liabilities
Equity
FY2018 Q2 BS Highlights
204
(2,038)
(2,000)
(1,000)
0
1,000
2,000
3,000
4,000
5,000
FY2017
Q2
FY2018
Q2
3,701
4,807
(2,000)
(1,000)
0
1,000
2,000
3,000
4,000
5,000
FY2017
Q2
FY2018
Q2
(656)
(1,907)
(2,000)
(1,000)
0
1,000
2,000
3,000
4,000
5,000
FY2017
Q2
FY2018
2Q
8
Operating CF Investing CF Financing CF
・Increase in net income
before income taxes
・FY2017 Q2: Cancellation of fixed
deposit
・Purchases of investment securities
・Increase in payment of dividend
・Acquisition of shares of
subsidiary
FY2018 Q2 CF Highlights
CF (YoY)
JPY millions
10,320
7,741
4,746
867
1,726
10,123
6,400
4,531
8651,523
10,903
6,637
5,144
1,3121,785
0
5,000
10,000
15,000
Rigid (high-end) Rigid (regular) PKG Build-up/FPC Other
9
Sales Results by Product Group Category JPY millions
FY2017 Q2
FY2018 Q2
FY2016 Q2
*This category differs from the classification of “sales results by product group category” mentioned in consolidated financial
results and annual securities report, etc.
FY2018 Q2 Sales Results by Product Group Category
862
2,387
833 605 295
1,622
2,463
960 846
2130
1,000
2,000
3,000
Japan China Taiwan Korea Other
8,59410,439
4,128 4,0731,990
9,56811,078
4,579 5,035
2,0980
2,000
4,000
6,000
8,000
10,000
12,000
Japan China Taiwan Korea Other
10% 23% 20% 15% 15%17% 22% 21% 17% 10%
10 FY2018 Q2 Segment InformationSales by Segment (including inter-segment sales or transactions)
Operating Income by Segment (including inter-segment sales or transactions)