DISCO CORPORATION FY2022
Third Quarter Financial Results
Jan. 24, 2023
DISCLAIMER
Statements in this PowerPoint with respect to DISCO's current strategies, plans, estimates, and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of DISCO. These statements are based on management's assumptions and beliefs in light of the information currently available to it and therefore you should not place undue reliance on them. DISCO cautions you that a number of important factors could cause actual results to differ materially from those discussed in the forward-looking statements, and you should not make decision on your investment thoroughly based on these statements. Such factors include, but not limited to, (i) general economic conditions and levels of demand in DISCO's markets; (ii) developments in technology and resulting changes in semiconductor and/or electronic component manufacturing process; (iii) levels of capital investment for manufacturing semiconductors and/or electronic components; (iv) expansions of the area for products and technologies using semiconductors and/or electronic components and its expanding speed; (v) DISCO's ability to continue to offer products and services corresponding to developments of new semiconductors and/or electronic components and new technologies for manufacturing them; (vi) exchange rates, particularly between the yen, the U.S. dollar, and the euro, and other currencies.
©DISCO CORPORATION All rights reserved
FY2022 3Q Earnings Results
FY2022 | FY2022 | QoQ | FY2021 | YoY | ||||||
Millions of Yen | 3Q | 2Q | Amount | (%) | 3Q | Amount | (%) | |||
Net Sales | 65,838 | 79,532 | -13,694 | -17.2% | 64,186 | 1,652 | 2.6% | |||
Gross Profit | 43,092 | 52,055 | -8,963 | -17.2% | 39,157 | 3,935 | 10.0% | |||
Gross Profit Margin | 65.5% | 65.5% | 0.0p | - | 61.0% | 4.5p | - | |||
SG&A | 18,835 | 18,776 | 58 | 0.3% | 15,865 | 2,970 | 18.7% | |||
Operating Income | 24,257 | 33,278 | -9,021 | -27.1% | 23,292 | 965 | 4.1% | |||
Ordinary Income | 22,605 | 34,819 | -12,214 | -35.1% | 24,001 | -1,396 | -5.8% | |||
Ordinary Income Margin | 34.3% | 43.8% | -9.5p | - | 37.4% | -3.1p | - | |||
Income before income taxes and | 22,522 | 34,798 | -12,276 | -35.3% | 23,901 | -1,379 | -5.8% | |||
minority interests | ||||||||||
Net Income | 16,546 | 24,633 | -8,087 | -32.8% | 16,916 | -371 | -2.2% | |||
Sales: YoY increased due to a high level of shipments and inspection/acceptance. QoQ fluctuation was seen due to inspection/acceptance timing.
GP margin: YoY profit increased due to the exchange rate and continued improvement initiatives. QoQ remained at a high level.
SG&A: Remained at a high level due to increased R&D costs.
2 | ©DISCO CORPORATION All rights reserved | ||||
Quarterly Financial Results
Due to the change in accounting policy, the timing of revenue recognition has been changed to Inspection/Acceptance Basis.
900 800 700 600 500 400 300 200 100 0
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q |
FY13 | FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | |||||||||||||||||||||||||||||
Net Sales | Operating Income | Ordinary Income Margin |
50%
40%
30%
20%
10%
0%
Although sales decreased due to inspection/acceptance timing, all profit categories remained high. (FY22_3Q Operating profit margin 36.8%, Ordinary income 34.3%, Net profit 25.1%)
3 | ©DISCO CORPORATION All rights reserved | ||||
Product Categories
Before (FY21)
Precision Processing
Equipment
Precision Processing
Tools
(Consumables)
Maintenance Parts
Other
Industrial Products
Accessory Equipment *
Related tools
After (FY22)
Precision Processing
Equipment
Precision Processing
Tools
(Consumables)
Maintenance Parts
Other
* Wafer Mounter, Deionized Water Recycling Unit, Other Equipment
The "Other" and "Industrial Products" categories have changed.
4 | ©DISCO CORPORATION All rights reserved | ||||
Quarterly Sales Breakdown by Product
Accounting policy change
800
100 million yen (Oku yen)
700
600
500
400
300
200
100
0 | FY19 1Q | FY20 1Q | FY21 1Q | FY22 1Q | ||||||||||||||
FY18 1Q | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | 2Q | 3Q |
Industrial Products
Other
Maintenance Parts
Precision Processing Tools (Consumables)
Precision Processing Equipment
Note: Composition percentages are listed as additional information on the DISCO website.
5 | ©DISCO CORPORATION All rights reserved | ||||
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Disco Corporation published this content on 24 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 07:16:02 UTC.
