Lasertec : Consolidated Financial Results for the First Quarter Ended September 30, 2019 (Japanese GAAP) （PDF：129KB）

Consolidated Financial Results for the First Quarter Ended September 30, 2019

(Japanese GAAP)

	October 28, 2019
Company name:	Lasertec Corporation
Stock exchange listing:	Tokyo Stock Exchange
Code:	6920
URL:	https://www.lasertec.co.jp/
Representative:	Osamu Okabayashi
	Representative Director and President
Contact for inquiries:	Shu Uchiyama
	Managing Director and Chief Administrative Officer
	Phone: [phone]
Date of securities report filing:	November 12, 2019
Date of starting dividend payout:
Preparation of supplementary material for
financial results:	Yes
Financial results briefing:	No
	(Figures less than a million yen are rounded down.)

1. Consolidated financial results for the three-month period ended September 30, 2019

(1) Consolidated operating results

(The percentage figures indicate changes from the previous fiscal year.)

																		Net income
	Net sales	Operating income	Ordinary income		attributable to owners
																		of parent
Three months ended	Million yen		%		Million yen		%		Million yen		%			Million yen		%
September 30, 2019	5,542		(10.3)		1,429		55.2		1,372		41.3			993		26.8
September 30, 2018	6,181		127.3		921		272.7		971		294.0			783		296.3
(Note) Comprehensive income: Three months ended September 30, 2019: 967 million yen [10.7%]
	Three months ended September 30, 2018: 874 million yen [263.8%]
		Net income per share			Net income per share, fully diluted
Three months ended						Yen								Yen
September 30, 2019						22.03							22.01
September 30, 2018						17.37							17.36
(2) Consolidated financial position
	Total assets		Net assets				Equity ratio		Net assets per share
		Million yen		Million yen				%							Yen
September 30, 2019	55,145		30,677				55.6			679.90
June 30, 2019	50,055		31,107				62.1			689.44
(Reference) Equity: September 30, 2019: 30,656 million yen June 30, 2019: 31,086 million yen
2. Dividends
								Dividend per share
		End of 1Q	End of 2Q		End of 3Q		Yearend			Total
			Yen	Yen				Yen			Yen			Yen
Fiscal year ended June 30, 2019					16.00							31.00				47.00
Fiscal year ending June 30, 2020
Fiscal year ending June 30, 2020					31.00							47.00				78.00
(Forecast)
(Note) Revision to forecast of dividends since the last announcement: No

3. Forecast of consolidated financial results for the year ending June 30, 2020

(The percentage figures indicate changes from the same period of the previous fiscal year.)

								Net income	Net income per
	Net sales		Operating income	Ordinary income	attributable to
		share
								owners of parent
	Million yen		%	Million yen	%	Million yen	%	Million yen	%	Yen
First six	22,000		30.7	7,700	49.6	7,700	49.5	5,900	53.3	130.85
months
Annual	40,000		39.0	13,000	63.7	13,000	65.9	10,000	68.5	221.78

(Note) Revision to forecast of financial results since the last announcement: No

• Notes

1. Significant changes of subsidiaries during the period (changes of specified subsidiaries accompanying changes in the scope of consolidation): None

Number of subsidiaries added to consolidation: None (Company names: ),

Number of subsidiaries excluded from consolidation: None (Company names: )

1. Application of special accounting procedures to the preparation of quarterly consolidated financial statements: None
2. Changes in accounting policy, changes or restatement of accounting estimates
3. • Changes in accounting policy due to revision of accounting standards: None
   • Changes in accounting policy other than ① : Yes

• Changes in accounting estimates: None
  ④ Restatement due to revision: None

(Note) For details, see "(4) Notes to consolidated financial statements (Changes in accounting policy)" on page 8 of the attached supplementary material.

(4) Number of issued shares (common stock):

• Number of issued shares at the end of the period (including treasury shares)

• Number of treasury shares at the end of the period

• Average number of shares during the period ended

				(Shares)
September 30, 2019	47,143,200	June 30, 2019	47,143,200
September 30, 2019	2,054,196	June 30,	2019	2,054,196
September 30, 2019	45,089,004	September 30,	2018	45,089,103

• This report of financial results is not subject to auditing by certified public accountants.
• Statement about proper use of forecast of financial results and other special notes

The forecast of financial results provided in this report is based on the information currently available to the company and based on certain assumptions it has judged as reasonable. Actual results may differ materially from the forecast due to various factors.

Lasertec Corporation (6920)

Contents of Supplementary Material

1. Qualitative information concerning this quarterly report --------------------------------------------------------2
2. 1. Information concerning operating results----------------------------------------------------------------------2
   2. Information concerning financial position----------------------------------------------------------------------2
   3. Information concerning forecast of consolidated financial results -------------------------------------2
3. Consolidated financial statements and notes ---------------------------------------------------------------------3
4. 1. Consolidated balance sheet --------------------------------------------------------------------------------------3
   2. Consolidated statement of income and consolidated statement of comprehensive income-----5 Consolidated statement of income
      First three months of the fiscal year--------------------------------------------------------------------------5 Consolidated statement of comprehensive income
      First three months of the fiscal year--------------------------------------------------------------------------6
   3. Consolidated statement of cash flows -------------------------------------------------------------------------7
   4. Notes to consolidated financial statements-------------------------------------------------------------------8 (Note on going concern)--------------------------------------------------------------------------------------------8 (Note on significant changes in the amount of shareholders' equity)-----------------------------------8 (Changes in accounting policy) ---------------------------------------------------------------------------------8
5. Supplementary information---------------------------------------------------------------------------------------------9
6. 1. Production by category---------------------------------------------------------------------------------------------9
   2. Orders and backlog by category---------------------------------------------------------------------------------9
   3. Sales by category ---------------------------------------------------------------------------------------------------9

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Lasertec Corporation (6920)

1. Qualitative information concerning this quarterly report

1. Information concerning operating results

During the first three months of this fiscal year, the global economy maintained a steady pace of growth, but it was beginning to slow down due to the spread of protectionist trade policies, as exemplified by the USChina trade friction, as well as due to the unce rtainty of geopolitical issues.

In the semiconductor industry, our primary market, there were signs that the fall of memory prices was coming to an end, but the capital investment of memory manufacturers did not fully recover yet. On the other hand, logic manufacturers kept a high pace of capital investment to enable further scaling at leading edge production lines. In particular, major foundries continued making investment in earnest for the commercial application of nextgeneration extreme u ltraviolet (EUV) lithography.

In the flat panel display (FPD) industry, another major market of our business, the pace of capital investment was slowing down due to an oversupply of LCD panels as Chinese manufacturers started operating their newly built 10.5G largepanel produ ction plants.

Under these circumstances, our consolidated net sales in the threemonth period ended September 30, 2019 totaled 5,542 million yen (down 10.3% yearon year).

By product segment, semiconductorrelated products accounted for 3,195 million yen (down 22.3% year onyear), other products for 1,001 million yen (dow n 9.2% yearonyear), and services for 1,345 millio n yen (up 39.5% yearonyear).

As for consolidated income for this period, we recorded an operating income of 1,429 million yen (up 55.2% yearonyear), an ordinary income of 1,372 million yen (up 41.3% yearonyear), and a 993 millionyen net income attributable to owners of parent (up 26.8% yearonyear).

1. Information concerning financial position

• Financial position

Total assets at the end of the period amounted to 55,145 million yen, up 5,089 million yen from the end of the previous fiscal year. This is mainly due to a 4,863 million yen increase in work in process.

Liabilities at the end of the period amounted to 24,467 million yen, up 5,519 million yen from the end of the previous fiscal year. This is mainly due to a 4,840 million yen increase in advances received.

Net assets, which consist of shareholders' equity, accumulated other comprehensive income, and subscription right to shares, amounted to 30,677 million yen. The capitaltoasset ratio was 55.6%.

• Cash flows

Cash and cash equivalents at the end of the period amounted to 13,385 million yen, up 265 million yen from the end of the previous fiscal year. Following is the status of cash flows and their contributing factors during the threemonth period.

Net cash provided by operating activities amounted to 2,654 million yen (up 26.3% yearonyear). This is mainly because the sum of cash receipt, such as a 4,838 million yen increase in advances received, a 1,992 million yen increase in accounts payabletrad e, and 72 million yen in income before income taxes, exceeded the sum of cash payment, such as a 4,994 million yen increase in inventories and 1,206 million yen used for income taxes paid.

Net cash used in investing activities amounted to 968 million yen (up 454.6% yearonyear). This is ma inly due to 926 million yen used for purchase of property, plant and equipment.

Net cash used in financing activities amounted to 1,399 million yen (up 41.0% yearonyear). This is m ainly due to 1,397 million yen used for cash dividends paid.

1. Information concerning forecast of consolidated financial results

We have not revised our forecast for the fiscal year ending June 2020 announced on August 7, 2019.

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			Lasertec Corporation (6920)
2. Consolidated financial statements and notes
(1) Consolidated balance sheet
			(In thousands of yen)
		Previous	Current
		(As of	(As of
		June 30,2019)	September 30,2019)
	Assets
	Current assets
	Cash and deposits	13,185,860	13,448,497
	Notes and accounts receivabletrade	4,313,818	3,925,072
	Work in process	15,479,479	20,342,959
	Raw materials and supplies	3,278,609	3,407,575
	Other	3,589,280	3,752,323
	Allowance for doubtful accounts	(5,990)	(4,460)
	Total current assets
	39,841,058	44,871,967
	Noncurrent assets
	Property, plant and equipment
	Buildings and structures, net	2,457,654	2,423,843
	Machinery, equipment and vehicles, net	1,030,031	960,793
	Tools, furniture and fixtures, net	309,310	401,363
	Leased assets, net	3,190	25,425
	Land	4,254,773	4,254,773
	Total property, plant and equipment
	8,054,960	8,066,199
	Intangible assets
	462,664	463,328
	Investments and other assets
	Investment securities	478,373	480,674
	Deferred tax assets	1,113,574	1,154,549
	Other	105,135	108,620
	Allowance for doubtful accounts	(95)	(95)
	Total investments and other assets	1,696,987	1,743,748
	Total noncurrent assets	10,214,612	10,273,277
	Total assets
	50,055,671	55,145,244

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