FY23/3 H1

Corporate Presentation

November 10, 2022

PersonalTech

For A Better World

Copyright 2022 Japan Display Inc. All Rights Reserved.

Slide 2

FY23/3 H1 Earnings Review

FY23/3 H1 Key Points

  • H1 sales JPY 138.3B (JPY -16.4B vs. forecast), operating profit JPY -11.8B (JPY +4.9B vs. forecast)
  • Sales came in at almost the same level as FY22/3 H1, with weak mobile demand (c. JPY -24.2B YOY) offset by strong automotive sales (c. JPY +21.8B YOY) & the positive effect of the yen's depreciation (c. JPY +26B)
  • Operating profit worsened by JPY 4.7B YoY on inventory growth impacts & rising material, energy, & shipping costs
  • In light of H1 results & expected weakened demand for H2, JDI is revising down its H2 & full-year forecasts

Copyright 2022 Japan Display Inc. All Rights Reserved.

Slide 4

FY23/3 H1 Difference between Forecast & Actual Results

Despite below-forecast sales, losses shrank due to positive FX effects, & reductions

in fixed & variable costs

(JPY billion)

FY23/3 H1

FY23/3 H1

Diff

FCST

ACT

Sales

154.7

138.3

-16.4

Mobile (US/Euro)

21.9

28.6

+6.7

Mobile (China/other)

13.5

9.4

-4.1

Automotive

75.5

66.5

-9.0

Non-Mobile

43.9

33.8

-10.1

EBITDA

-11.9

-7.5

+4.4

Operating Profit

-16.7

-11.8

+4.9

Recurring Profit

-17.3

-8.4

+8.9

Net Income

-17.2

-11.6

+5.6

FX（JPY/USD）

123.0

134.0

Explanation

Mobile US/Euro: Expanded market share

Mobile China/Other: Decrease in shipments due to lower-than-expected smartphone demand

Automotive: Decrease due to restricted production at JDI & customers driven by Shanghai lockdown & prolonged material shortages

Non-Mobile: Significant decrease in VR demand as key customer revised down sales plans

  • Lower fixed costs from reduced production
  • Aggressive cost cutting

Booked JPY 4.1B non-op. FX gain positive contributor to RP

Positive: JPY 1B extraordinary gain on reversal of restructuring expenses

Negative: JPY 1.2B extraordinary impairment loss. JPY 1B increase in income taxes of an overseas subsidiary

Copyright 2022 Japan Display Inc. All Rights Reserved.

Slide 5

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Japan Display Inc. published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2022 06:06:22 UTC.