DISCO CORPORATION FY2023
Second Quarter Financial Results
October 19, 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
FY2023 2Q Earnings Results
Billions of Yen
Net Sales
Gross Profit
Gross Profit Margin SG&A
Operating Income
Ordinary Income Ordinary Income Margin
Income before income taxes and minority interests
Net Income
FY2023
2Q
72.3
49.5
68.4%
21.4
28.0
28.1
38.9%
28.1
20.0
FY2023 | QoQ | ||
1Q | Amount | (%) | |
54.0 | 18.3 | 34.0% | |
35.2 | 14.3 | 40.6% | |
65.2% | 3.2p | - | |
18.2 | 3.2 | 17.8% | |
17.0 | 11.1 | 65.2% | |
18.2 | 10.0 | 54.8% | |
33.7% | 5.2p | - | |
18.1 | 10.0 | 54.9% | |
12.7 | 7.3 | 57.9% |
FY2022 | YoY | |
2Q | Amount | (%) |
79.5 | -7.2 | -9.1% |
52.1 | -2.6 | -4.9% |
65.5% | 2.9p | - |
18.8 | 2.7 | 14.2% |
33.3 | -5.2 | -15.7% |
34.8 | -6.7 | -19.3% |
43.8% | -4.9p | - |
34.8 | -6.7 | -19.2% |
24.6 | -4.6 | -18.7% |
Sales: QoQ increase due to inspection/acceptance progress.
GP margin: QoQ increase due to exchange rate, improvement activities, high-value added cases, etc.
SG&A: QoQ increase mainly due to personnel and R&D expenses.
2 | ©DISCO CORPORATION All rights reserved | ||||
FY2023 1H Earnings Results
Billions of Yen
Net Sales
Gross Profit
Gross Profit Margin
SG&A
Operating Income
Ordinary Income
Ordinary Income Margin
Income before income taxes and minority interests
Net Income
FY2023
1H
126.3
84.7
67.1%
39.7
45.0
46.3
36.7%
46.2
32.7
FY2022 | YoY | ||
1H | Amount | (%) | |
139.3 | -13.0 | -9.3% | |
90.2 | -5.5 | -6.1% | |
64.8% | 2.3p | - | |
35.3 | 4.3 | 12.3% | |
54.9 | -9.9 | -18.0% | |
57.6 | -11.3 | -19.6% | |
41.3% | -4.6p | - | |
57.5 | -11.3 | -19.6% | |
40.7 | -8.0 | -19.6% | |
Net Sales：YoY increase due to a high level of product shipments from an increase in high-value added cases, but prolonged inspection/acceptance seen.
GP margin：YoY increase due to exchange rate, improvement activities, high-value added cases, etc.
SG&A：YoY increase mainly due to personnel and R&D expenses.
3 | ©DISCO CORPORATION All rights reserved | ||||
Quarterly Financial Results
Billions of Yen | Due to the change in accounting policy, the timing of | ||||||||||||||||||||||||||||||||||||
revenue recognition has been changed to | |||||||||||||||||||||||||||||||||||||
90.0 | Inspection/Acceptance Basis. | 50% | |||||||||||||||||||||||||||||||||||
80.0 | |||||||||||||||||||||||||||||||||||||
70.0 | 40% | ||||||||||||||||||||||||||||||||||||
60.0 | |||||||||||||||||||||||||||||||||||||
50.0 | 30% | ||||||||||||||||||||||||||||||||||||
40.0 | 20% | ||||||||||||||||||||||||||||||||||||
30.0 | |||||||||||||||||||||||||||||||||||||
20.0 | 10% | ||||||||||||||||||||||||||||||||||||
10.0 | |||||||||||||||||||||||||||||||||||||
0.0 | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 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 | ||||||||||||
FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 |
Net Sales | Operating Income | Ordinary Income Margin | ||
As the sales and GP margin were high, operating profit margin remained higher than 30%. (FY23_2Q Operating profit margin 38.8％, Ordinary profit 38.9%, Net income 27.7%)
4 | ©DISCO CORPORATION All rights reserved | ||||
Quarterly Sales Breakdown by Product
90.0 | |||||||||||||||||
Billions of Yen | |||||||||||||||||
80.0 | |||||||||||||||||
70.0 | |||||||||||||||||
60.0 | |||||||||||||||||
50.0 | |||||||||||||||||
40.0 | |||||||||||||||||
30.0 | |||||||||||||||||
20.0 | |||||||||||||||||
10.0 | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | ||||||||
1Q | 1Q | 1Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | |||||||||
FY19_ | FY20_ | FY21_ | FY22_ | FY23_ |
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 | ||||
Quarterly Sales Breakdown by Region
90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
Billions of Yen
FY19 1Q | 2Q | 3Q | 4Q | FY20 1Q | 2Q | 3Q | 4Q | FY21 1Q | 2Q | 3Q | 4Q | FY22 1Q | 2Q | 3Q | 4Q | FY23 1Q | 2Q |
Asia
Japan
Europe
North America
FY23_2Q Overseas sales ratio:88.5%
6 | ©DISCO CORPORATION All rights reserved | ||||
Quarterly Shipment
90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
Billions of Yen | 79.4 |
FY14 1Q | 2Q | 3Q | 4Q | FY15 1Q | 2Q | 3Q | 4Q | FY16 1Q | 2Q | 3Q | 4Q | FY17 1Q | 2Q | 3Q | 4Q | FY18 1Q | 2Q | 3Q | 4Q | FY19 1Q | 2Q | 3Q | 4Q | FY20 1Q | 2Q | 3Q | 4Q | FY21 1Q | 2Q | 3Q | 4Q | FY22 1Q | 2Q | 3Q | 4Q | FY23 1Q | 2Q |
FY23_2Q Shipment volume: approx. JPY 79.4 B
7 | ©DISCO CORPORATION All rights reserved | ||||
Precision Processing Equipment: Sales by Application
Shipment Basis | Precision Processing Equipment |
FY19 1Q | 2Q | 3Q | 4Q | FY20 1Q | 2Q | 3Q | 4Q | FY21 1Q | 2Q | 3Q | 4Q | FY22 1Q | 2Q | 3Q | 4Q | FY23 1Q | 2Q |
Non-semiconductors
Wafer manufacturing
Other semiconductors
Optical semiconductors
Package singulation
IC
Sales by applications for precision processing equipment (dicers and grinders)
8 | ©DISCO CORPORATION All rights reserved | ||||
Dicer: Sales by Application
Shipment Basis | Dicer |
Non-semiconductors
Other semiconductors
Optical semiconductors
Package singulation
IC
FY19 1Q | 2Q | 3Q | 4Q | FY20 1Q | 2Q | 3Q | 4Q | FY21 1Q | 2Q | 3Q | 4Q | FY22 1Q | 2Q | 3Q | 4Q | FY23 1Q | 2Q |
QoQ: The increase for power semiconductors (under "Other semiconductors") and logic (IC) pushed the whole higher.
YoY: Increased for power semiconductors (under "Other semiconductors"), but the decrease in IC pushed the whole lower.
9 | ©DISCO CORPORATION All rights reserved | ||||
Grinder: Sales by Application
Shipment Basis | Grinder |
Non-semiconductors
Wafer manufacturing
Other semiconductors
Optical semiconductors
IC
FY19 1Q | 2Q | 3Q | 4Q | FY20 1Q | 2Q | 3Q | 4Q | FY21 1Q | 2Q | 3Q | 4Q | FY22 1Q | 2Q | 3Q | 4Q | FY23 1Q | 2Q |
QoQ: In addition to an increase for power semiconductors (under "Other semiconductors"), the increase for IC, etc. pushed sales to a new record high.
YoY: Increased for all applications including for power semiconductors (under "Other semiconductors").
10 | ©DISCO CORPORATION All rights reserved | ||||
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Disclaimer
Disco Corporation published this content on 19 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2023 07:16:36 UTC.
