Taiyo Yuden : Earnings Release Conference for the 2nd Quarter(1297KB)

Consolidated Financial Results

Second quarter for the year ending March 31, 2023

Katsuya Sase

Chief of Management Planning Headquarters

November 7, 2022

©TAIYO YUDEN 2017

Financial Summary

2Q for the Year Ending March 2023

Net sales were ¥86.3 billion, up 6% Q/Q. Sales of inductors were up 29% Q/Q, driving the increase in sales overall.

The recovery in demand was slower than our forecast, and sales were lower than expected as of August.

Operating profit was ¥16.5 billion, up 25% Q/Q. The impact of exchange rates and the effect of capacity utilization contributed to profit growth.

Earnings Forecast for the year Ending March 2023

The financial results forecasts published in May have been revised downward.

The full-year earnings forecasts are for net sales of ¥342.0 billion, down 2% Y/Y, and operating profit of ¥42.0 billion yen, down 38% Y/Y.

©TAIYO YUDEN 2017		2

2Q - Consolidated Financial Results (Q/Q)

	FYE Mar 31, 2023	FYE Mar 31, 2023	Change Q/Q
¥ in million	1Q			2Q
	(01 Apr 2022 - 30 Jun 2022)	(01 Jul 2022 - 30 Sep 2022)
Net sales	81,740	100.0%	86,272	100.0%	4,532	5.5%
Operating profit	13,142	16.1%	16,475	19.1%	3,332	25.4%
Ordinary profit	17,204	21.0%	18,355	21.3%	1,151	6.7%
Profit attributable to	12,236	15.0%	12,643	14.7%	406	3.3%
owners of parent
Yen/USD	124.45 yen	135.33 yen		10.88 yen
average exchange rate		depreciated
Impact of exchange rate	4.9 billion yen on net sales, 3.5 billion yen on operating profit
fluctuation	* Including the impact of currencies other than US dollars
R&D expenses		3,112		3,111	(0)	(0.0)%
Capital investment		9,763		10,602	838	8.6%
Depreciation expenses		7,856		8,468	612	7.8%
©TAIYO YUDEN 2017							3

2Q - Factors behind Operating Profit (Q/Q)

Operating profit (2Q FYE Mar 2023)

Operating profit (1Q FYE Mar 2023)

13.1

16.5

Effect from		Currency
capacity		fluctuations
utilization	Effect from	+3.5
+2.4	cost
	reductions
	±0
(1.2)		(1.3)
Impact of		Changes
selling price		In
		fixed costs

©TAIYO YUDEN 2017		4

2Q - Financial Results by Product Classification (Q/Q)

¥ in million	FYE Mar 31, 2023	FYE Mar 31, 2023	Change Q/Q
1Q		2Q
Capacitors	54,583	66.8%	56,438	65.4%	1,855	3.4%
Inductors	11,748	14.4%	15,156	17.6%	3,408	29.0%
Integrated modules &	9,159	11.2%	8,276	9.6%	(882)	(9.6)%
devices
Others	6,248	7.6%	6,400	7.4%	152	2.4%
Total net sales	81,740	100.0%	86,272	100.0%	4,532	5.5%

©TAIYO YUDEN 2017		5