IR meeting of FY2014 - NJR · Operating income 2,276 2,918 +642 +28.2% ... Balance sheet March...
Transcript of IR meeting of FY2014 - NJR · Operating income 2,276 2,918 +642 +28.2% ... Balance sheet March...
IR meeting of FY2014
May 15th,2015
Contents
• Performance of FY2014• Forecast of FY2015• Our growth strategy
2
• About Performance of FY2014
3
FY2014:From April 1st,2014 to March 31st,2015
Performance of FY2014
FY2013 FY2014 Gap Percentage
Net sales 42,080 45,220 +3,140 +7.5%
Operating income 2,276 2,918 +642 +28.2%
Net income 2,561 4,580 +2,019 +78.8%
4
・ Increased both in sales and profits of “Electronic Devices”.・ 954 million of yen from sales of fixed assets is reported as extraordinary profits. (Note: change of segment name from “Semiconductors” to “Electronic Devices” at April 1st
2014
(million of JPY)
36,417
42,080 45,220
0
10,000
20,000
30,000
40,000
50,000
60,000
FY2012 FY2013 FY2014
Forward
EMS(existing)
Microwave(existing)
GaAs ICs(existing)
Si IC (existing)
Change of sales
5
+7.5%+15.6%
(million of JPY)
Change of sales and profit
6
0
2,000
4,000
6,000
8,000
10,000
12,000
Microwave tubesMicrowave application productsElectoronic devices
△ 1,500
△ 1,000
△ 500
0
500
1,000
1,500Operating incomeNet income
(million of JPY) (million of JPY)
FY2014FY2013
FY2012
FY2011
FY2014
FY2013
FY2012
FY2011
Change of operation profit
7
(million of JPY)
2,276
+2,576
△111
△1,103
△720 2,918
0
1,000
2,000
3,000
4,000
5,000
6,000
FY2013 FY2014
Depreciation cost Payroll
cost
Others
Increase of sales
Balance sheet
March 31st 2014 March 31st 2014 Gap
Total assets 37,174 39,011 +1,837
Net assets 7,455 10,708 +3,253
Capital ratio 20.1% 27.4% +7.3%
8
Total assets:Increase of liquid assetsNet assets:Increase of profit growth
(million of yen)
Change of net assets and interest-bearing debt
9
(million of JPY)
0
4,000
8,000
12,000
16,000
20,000
June,2010
Sep,2010
Dec,2010
Mar,2011
June,2011
Sep,2011
Dec,2011
Mar,2012
June,2012
Sep,2012
Dec,2012
Mar,2013
June,2013
Sep,2013
Dec,2013
Mar,2014
June,2014
Sep,2014
Dec,2014
Mar,2015
Net assets
Cash flow
10
(million of JPY)
FY2014 FY2015
O p e r a t i n g 4,243 5,416
I n v e s t i n g △1,975 △769
F i n a n c i n g △2,239 △4,102Cash and cashe q u i v a l e n t s 609 1,273
• Forecast of FY2015
11
FY2014:From April 1st 2014 to March 31st 2015
Forecast of FY2015
FY2014 FY2015(F) Gap Percentage
N e t s a l e s 45,220 49,000 +3,780 +8.4%
O p e r a t i n gi n c o m e
2,918 3,700 +782 +26.8%
N e t i n c o m e 4,580 3,700 △880 △19.2%
12
(million of JPY)
Change of sales(business segments)
13
(million of JPY)
Forecast
36,417
42,080
45,220
49,000
0
20,000
40,000
60,000
FY2012 FY2013 FY2014 FY2015(F)
Microwave tubesMicrowave application productsElectoronic devices
36,417
42,080
45,220
49,000
0
10,000
20,000
30,000
40,000
50,000
60,000
FY2012 FY2013 FY2014 FY2015(F)
ForwardEMS(existing)Microwave(existing)GaAs ICs(existing)Si IC (existing)
Change of sales
14
FORWARD drives our growth.
+7.5%
+15.6%
+8.4%
(million of JPY)
(Forecast)
Change of operation income
15
(million of JPY)
2,918
+2,293
+67
△1,150
△4283,700
0
1,000
2,000
3,000
4,000
5,000
6,000
FY2014 FY2015(Forecast)
Depreciation cost Payroll
cost
Others
Increase of sales
Capital investment
16
(million of JPY)
4,131
2,396
717
3,393
3,021
2,194
1,761
2,214
3,845
0
1,000
2,000
3,000
4,000
5,000
• Our growth strategy
17
Change of business environment
18
2012 2013 2014 2015
Sales promotion for automotive field
Cost down, maintaining our market share
Existing items
0
10,000
20,000
30,000
Others
Security
Home appliances
PC
Communication
Automotive
Audio/Video
Change of sales (application)
21
Sales promotion for automotive field(million of JPY)
22
0
2,000
4,000
6,000
8,000
10,000
Automotive devices
23
(million of JPY)
For car AV
For smart key
For PCU and more
Our automotive ICs
24
Car navigation system
Battery
Power control unit
LED head lampSource : Marklines
25
EMS associatedwith industry restructuring
NJR
Technologies
SAW
Foundry
(JRC+XX)
GaAs
Thin film
Technologies
Foundry
service
MEMS
FEM
Wi-Fi(A社)
SAWRelated
Microwave-related
Microwave Application ProductsNew market O3b
C社
B社
Collaboration with Electronic Components
Manufacturer.
Our business with core-technologies (2012)
SAW Ass’y(JRC+XX)
MicAmp
Challenge the New market in 2013
F社
G
E社D社
PowerS/J
NewTechnology
Smartphone etc.
+
26
EMS associatedwith industry restructuring
NJRTechnologies
SAWFoundry
(JRC+XX)
GaAs
Thin filmTechnologies
Foundryservice
MEMS
FEM
Wi-Fi(A)
SAWRelated
LNA/SW
Microwave-related
マイクロ波コンポーネント 新規事業分野(通信インフラ)O3b
C
B
Collaboration with Electronic Components
Manufacturer
XX
Our business with core-technologies (currently)
SAW Ass’y(JRC+XX)
MicAmp
Challenge the New market in 2013
F
G
ED
PowerS / J
NewTechnology
Smartphone
+
BUCBUC27
36,417
42,080 45,220
49,000
0
10,000
20,000
30,000
40,000
50,000
60,000
FY2012 FY2013 FY2014 FY2015(F)
ForwardEMS(existing)Microwave(existing)GaAs ICs(existing)Si IC (existing)
FORWARD
28
FORWARD drives our growth.
+7.5%+15.6%
+8.4%
(million of JPY)
Forecast
Change of sales “FORWARD” products
29
(million of JPY)
0
2,000
4,000
6,000
8,000
10,000
FY2012 FY2013 FY2014 FY2015(Forecast)
Microwave Application
MEMS
SAW
Passive
EMS
GaAs IC
Si IC
5,414
9,511
0
2,000
4,000
6,000
8,000
10,000
12,000
FY2014 FY2015
Change of sales “FORWARD” products
30
(million of JPY)
0 500 1,000 1,500 2,000
Si IC
MEMS
SAW
MicrowaveApplication
(Forecast)
Microwave application products
31
The data and telephone communications are transmitted long distances by microwaves between ground stations and communications satellites.
Microwave application products
32
24G High-speed satellite communications Ka band transceiver(EMS)
Ka band(30GHz)
K band(18-26GHz)
Ku band(12-18GHz)
X band(8-12GHz)
C band(4-8GHz)
Frequency
High
Low
Communication Capability
High
Low
Microwave application products
33
Microwave
Technology
Assembling Technology of the
Semiconductor
Microwave Technology(30GHz)
Adjustment Technique of the Analog Circuit
Assembling technology of the Semiconductor
Power Devices
Submicron technology THAI NJR CO.,LTD. Adjustment Technique
SAW(Surface Acoustic Wave)•SAW (surface acoustic wave) filters are electromechanical devices commonly used in radio frequency applications.
MEMS(Micro electro mechanical systems)•MEMS transducer of New JRC is a sound sensor. MEMS microphones are adopted to smartphones in order to cancel noises and improve sound quality. Also, microphone amp is our strong field.
SAW & MEMS
34
Microphone ampMEMS transducer +
ABC
ASAW filter
Forecast of mobile terminal market
35
2. The number of SAW Filter to be used for one smartphone2G 3G 4G LTE
4- 6 6 - 8 15 - 20
EE Catalog
1. 3G/4G/LTE
0
400
800
1,200
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
Products BusinessFoundly Business
Change of sales “SAW”
36
(million of JPY)
FY2012
FY2013
FY2014
FY2015
Forecast
0
200
400
600
800
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
Change of sales “MEMS”
37
FY2012
FY2015
(million of JPY)
FY2013
FY2014
Forecast
May, 2014 Total shipments 100 millionsNov, 2014 Total shipments 200 millions
FEM
Source:Garmin HP
LNA SAW
Antenna
SAW
GNSS Receiver IC
FEM: SAW+LNA+SAW
LNA Post SAWSAW
GNSS Receiver IC
FEM: SAW+LNA
0
50
100
150
200
250
FY2014 FY2015(Forcast)
170%
38
(million of JPY)
Others(Forward Item)
Analog IC design and Manufacturing technique
・Custom・Foundry
Utilization of semiconductor production technology
・Collaboration with Electronic Components Manufacturer
0
200
400
600
800
1,000
1,200
153%
39
(million of JPY)
Impedance Converter for Microphone
40
0
10
20
30
40
50
60
70
80
FY2014 FY2015(Forecast)
Microphone Module
ECMMic.
AMP.FET
BIASVocal Microphone
Pin Microphone
(million of JPY)