TOKYO SEIMITSU CO., LTD. May 12th, 2017 Tokyo Seimitsu Co., Ltd.
*
Hitoshi Yoshida, President and CEO Ticker Symbol: 7729.T
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 1
Cautionary Statement with respect to Forward-Looking StatementsDisclaimer:
This presentation contains "forward-looking statements" that are based on current best available information and policies.
There are various factors such as world economic conditions and semiconductor/automobile market conditions which will directly and indirectly impact the Company's results in the future.
As a result, future outcomes may differ from those projected in this presentation.
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 2
FY2017/3 (April 2016 - March 2017) Business Results
FY2016/3 | FY2017/3 | ||
Full Year | Full Year | YoY(%) | |
Sales | 70.3 | 77.8 | +11% |
SPE Segment | 41.8 | 50.3 | +20% |
Metrology Segment | 28.5 | 27.5 | - 4% |
Operating Income | 13.2 | 13.7 | +3% |
SPE | 7.3 | 8.8 | +20% |
Operating Income Ratio | 18% | 18% | - |
Metrology | 5.9 | 4.8 | -18% |
Operating Income Ratio | 21% | 18% | - |
Ordinary Income | 13.2 | 13.9 | +5% |
Net Income Attributable to Owners of the parent | 9.7 | 9.9 | +2% |
Dividend per share | 59 Yen | 72 Yen | +13 Yen |
Forecast Feb. 2017 | Difference |
72.5 | +5.3 |
46.5 | +3.8 |
26.0 | +1.5 |
13.0 | +0.7 |
12.8 | +1.1 |
9.4 | +0.5 |
68 Yen | +4 Yen |
(Billions of Yen except dividend)
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 3
FY2017/3 4th Quarter(Jan - Mar. 2017)
FY2016/3 | FY2017/3 | |||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | QoQ(%) | YoY(%) | |
Sales | 18.4 | 19.6 | 14.4 | 17.9 | 16.3 | 20.9 | 19.5 | 21.1 | +8% | +18% |
SPE Segment | 12.3 | 11.6 | 7.8 | 10.1 | 11.0 | 13.3 | 13.2 | 12.8 | - 2% | +27% |
Metrology Segment | 6.1 | 8.0 | 6.6 | 7.8 | 5.3 | 7.6 | 6.3 | 8.3 | +30% | +6% |
Operating Income | 3.9 | 3.8 | 2.2 | 3.4 | 2.9 | 3.7 | 3.2 | 3.9 | +24% | +16% |
SPE | 2.9 | 2.0 | 0.9 | 1.6 | 2.2 | 2.2 | 2.1 | 2.3 | +8% | +43% |
Operating Income Ratio | 24% | 17% | 12% | 16% | 20% | 17% | 16% | 18% | - | - |
Metrology | 1.0 | 1.8 | 1.3 | 1.8 | 0.6 | 1.5 | 1.1 | 1.6 | +57% | - 8% |
Operating Income Ratio | 16% | 22% | 19% | 23% | 12% | 20% | 17% | 20% | - | - |
Ordinary Income | 3.9 | 3.7 | 2.3 | 3.2 | 2.6 | 3.7 | 3.5 | 4.1 | +18% | +26% |
Net Income Attributable to Owners of the Parent | 2.8 | 2.7 | 1.7 | 2.5 | 1.9 | 2.8 | 1.4 | 3.9 | +183% | +55% |
Business Results
(Billions of Yen)
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 4
SPE Segment - Business Trends
2.1
1.6
2.3
13.2
10.1
12.8
4Q Sales (Yen 12.8B) in SPE exceeded forecast
Firm demand mainly toward Memory and Automotive device was confirmed
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 5
SPE Segment - Order Status
17.6
16.9
14.3
13.6
11.7
10.1
4Q's Orders were 16.9B(exceeded forecast), FY17/3 Orders were 56.2B, 4Q's backlog was 17.6B
All results above marked the highest record in the last 10 years
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 6
SPE Segment - Regional Sales
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 7
Metrology Segment - Business Trends
1.8
1.6
1.1
7.8
6.3
8.3
In 4Q, Sales(8.3B) slightly exceeded forecast
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 8
Metrology Segment - Order Status
6.5
6.3
7.0
6.7
7.3
6.0
4Q's orders were 7.3B, FY17/3 orders were 27.3B, 4Q's backlog was 6.0B
Demand in Japan and automobile/aircraft sector were firm, and overseas demand bottoming out
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 9
Metrology Segment - Regional Sales
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 10
Mar/E 2016
Mar/E 2017
Diff.
Liabilities, Net Assets
(Billions of Yen)
Mar/E 2016
Mar/E 2017
Diff.
Cash
27.4
33.9
+6.5
Accounts Payable (*2)
11.8
15.8
+4.0
Short term Debt
1.2
1.3
+0.1
Accounts Receivable (*1)
26.0
28.4
+2.4
Others
8.4
9.5
+1.1
Total Current Liabilities
21.4
26.6
+5.2
Inventories
16.1
17.3
+1.2
Total Fixed Liabilities
1.1
0.7
- 0.4
Others
3.2
3.2
- 0
Total Liabilities
22.5
27.3
+4.8
Total Current Assets
72.7
82.8
+10.1
Net Assets
79.4
87.2
+7.8
Fixed Assets
29.2
31.7
+2.4
Total Assets
101.9
114.5
+12.5
Total
(Int. bearing debt)
101.9
(1.6)
114.5
(1.3)
+12.5
(- 0.3)
Assets
(Billions of Yen)
FY2017/3 (March 2017)
Balance Sheet
(*1) Incl. Trade notes and Electronically Recorded Monetary Claims (*2) Incl. Trade notes and Electronically recorded obligations-operating
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 11
FY2017/3 (April 2016 - March 2017)
Cash Flows
（Billions of Yen) FY2015/3 FY2016/3 FY2017/3
Opening Balance 20.4 26.8 27.3
From Operating
Activities
Income before Tax, Interest & Depreciation 15.1 15.5 16.9
-2.0 - 4.2 - 0.1
(Receivables + Inventories) - Accounts Payable(*1)
Tax Payment
- 2.1
- 3.8
- 3.6
Others
- 2.0
- 0.3
- 0.4
Total
10.8
7.2
12.8
From Investing Activities
- 3.0
- 3.8
- 3.5
Free Cash Flow
7.9
3.4
9.3
Increase/decrease in Borrowings
- 0.4
- 0.5
- 0.3
Dividends & others
- 1.4
- 2.3
- 2.6
Total
- 1.8
- 2.8
- 3.0
6.4 0.5 6.5
From
Financing Activities
Net Cash Increase (incl. adjustments and change in consolidated subsidiaries)
Closing Balance 26.8 27.3 33.8
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 12
Number of Employees
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 13
（Billions of Yen)
R&D, Capex & Depreciation
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 14
Topics for FY2017/3
Hachioji No.6 Plant (Tokyo, Japan) Construction completed in May 2016
Business tie-up to promote "Laser grooving and Plasma Dicing method" announced in Feb. 2017
No.6 Plant
© Panasonic Factory Solutions Co., Ltd. 2017
Expansion Large equipment's MFG Extension of Demonstration Labs
Business tie-up with Panasonic Factory Solutions Co., Ltd. to promote "Laser Grooving and Plasma Dicing method"
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 15
Market Outlook
Semiconductor Production Equipment
Current demand situation is positive
Demand toward memory & automotive devices and in China is expected to be kept firm
Smartphone market trends to be carefully watched
Metrology Equipment
Demand in Japan and Automobile / Aircraft sector still continues to be active
Overseas demand (especially China) is bottoming out
Machine tools market is gently recovering
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 16
Forecast for FY2018/3 (April 2017 - March 2018)
FY2017/3
FY2018/3
1H
2H
Full Year
1H
Fcst
2H
Fcst
Full Year Fcst
YoY(%)
Sales
37.2
40.6
77.8
42.3
36.7
79.0
+2%
SPE
24.3
26.0
50.3
29.0
22.0
51.0
+1%
Metrology
12.9
14.6
27.5
13.3
14.7
28.0
+2%
Operating Income
6.6
7.0
13.7
7.8
6.2
14.0
+2%
Operating Income Ratio
18%
17%
18%
18%
17%
18%
-
Ordinary Income
6.3
7.6
13.9
7.8
6.2
14.0
+1%
Net Income attributable to Owners of the parent
4.7
5.2
9.9
5.6
4.4
10.0
+1%
Dividend per share
72 Yen
72 Yen
±0 Yen
(Billions of Yen except dividend)
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 17
SPE Segment - Sales/Orders trend incl. Forecasts
Anticipates a seasonal Order decrease in FY2018/3 1H
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Metrology Segment - Sales/Orders trend incl. Forecasts
Anticipates an increase of Orders for 2018/3 1H than FY2017/3 2H
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 19
R&D, Capex & Depreciation
（Billions of Yen)
incl. Forecasts
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 20
Corporate Philosophy
Growing together with partners and customers by collaborating technology, knowledge and information to create the world's No.1 products.
Our motto depicting this philosophy;
「WIN-WINの仕事で世界No.1の商品を創ろう」
WIN-WIN relationships create the World's No. 1 Products
Our corporate brand ;
A combination of the words ACCRETE (grow together) and TECHNOLOGY
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 21
Conceptual Framework
Increase in profit and enterprise value
Investment for growth
Strong financial position
CSR and Group Governance
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 22
Business Portfolio Analysis
SPE
Strengths: Precision positioning technology and in-house manufacturing
Opportunities: New Semiconductor technologies and devices
Metrology
Strengths: Precision, high-resolution measuring technology and reliability
Opportunities: New metrology products and demands from overseas including emerging countries
Well-balanced business portfolio
Enables stable business performance through offsetting demand fluctuations across variable sector trends
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 23
Long-term / Mid-term Business Target
Long-term: To maintain strong corporate structure with over 10% of ROE Mid-term (by FY2019/3): To achieve historical highest OP (15.0 billion yen)
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 24
Short-term business strategy
Be competitive in mainstream markets, and allocate resources to markets that can expect stable demand or potential growth
SPE Metrology
Mainstream Markets
・Mobiles
・Storage
・Automobiles
Mainstream Markets
・Auto and Auto Parts
・Machine Tools
+ +Emerging Markets
China Market
Non-Si and Substrates
Consumables
Emerging Markets
Aircrafts
Automations
Overseas Market
Continuous Increase in Sales and Profits
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Strategy of SPE Business
Final Products
Mobiles
Storage
Automobiles
Wafer Probing Machine
Response to ALL needs
Good environmental durability
Productivity improve for Memory
Wafer Dicing Machines/blades
Strengthen ability to provide solutions
Solution for electronic components - Proposing integrated process with
other equipment
PG, CMP and High Rigid Grinder
Response to the latest technologies
High precision and new materials (SiC,GaN)
Proposing integrated process with other equipment
Continuous Increase in Sales and Profits
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Strategy of Metrology Business
Increase in Sales through new Products
- Products for stable and rowing industries
- Sales expansion of OMI
Increase in Overseas Sales
- Response to growing needs for automation and IoT
- Launch of friendly models for global use
OMI: Optical Measuring Instruments
Continuous Increase in Sales and Profits
Copyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 27
ACCRETECH is Tokyo SeimitsuCopyright 2017 Tokyo Seimitsu Co., Ltd. (7729.T) All rights reserved. 28
Tokyo Seimitsu Co. Ltd. published this content on 12 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 May 2017 06:09:17 UTC.
Original documenthttp://www.accretech.jp/english/ir/library/financial_summary/files/BR_2017_4q_E.pdf
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