Results Briefing FY2010 COPYRIGHT(C) 2010 ALPS ELECTRIC CO., LTD. ALL RIGHTS RESERVED.

Transcription

1 Results Briefing FY2010 COPYRIGHT(C) 2010 ALPS ELECTRIC CO., LTD. ALL RIGHTS RESERVED.

2 Results for FY2010 Summary (Unit: Billions of JPY) FY2009 FY2010 Results 1-3 Q 4 Q Total Difference Forecast Difference vs.'09 ('11 1/31) vs.forecast Electronic Components % % (AUTO Division) (112.5) (92.7) (32.1) (124.9) (12.4) 11.0% (122.0) (2.9) 2.4% (HM&I Division) (161.6) (134.5) (36.6) (171.2) (9.5) 5.9% (171.0) (0.2) 0.1% Audio Equipment % % Logistics % % Others % % Net Sales % % % % % % % Electronic Components % % % % % % Audio Equipment % % % % % % Logistics % % % % % % % Others % % % % % % % Eliminations Operating Income % % % % % % % Ordinary Income % % % % % % * Extra ordinary loss by disaster (3.4) (3.4) Net Income % % % % % % F JPY/USD X JPY/EUR Details of Extra ordinary loss : E.Components 1.4, Audio Equipment 1.5, Logistics 0.4, Others 0.0 2

3 From Occurrence of Earthquake to Recovery Location in Tohoku Area Furukawa Plant Kitahara Plant Wakuya Plant Sendai R&D Center Nagaoka Plant Alpine Inc. Kakuda Plant Hypocenter Production Base Taira Plant Onahama Plant 3

4 From Occurrence of Earthquake to Recovery Priorities of emergency response: 1. Confirming safety of employees & their families 2. Livelihood support for disaster victims 3. Factory recovery 11 Fri 12 Sat 13 Sun 14 Mo 15 Tue 16 We 17 Thu 18 Fri 19 Sat 20 Sun 21 Mo 22 Tue 23 We 24 Thu 25 Fri 26 Sat 27 Sun 28 Mo 29 Tue 30 We Main shock Aftershock Seismic intensity Seismic intensity 5 ー 6+ (Nagaoka City) (Osaki City) Aftershocks continue Aftershock Seismic intensity 5+ (Iwaki City) Aftershocks continue Emergency Response Team start-up Production bases in Miyagi Pref. Confirm extent of damage & recovery start Production bases in Fukushima Pref. (including ALPINE) Confirm extent of damage & recovery start Restoration of information infrastructure Infrastructure is restored Production activity restarts Quick recovery Infrastructure is restored Total production restart 4

5 From Occurrence of Earthquake to Recovery Accumulation of experience 2003 Miyagiken Sanriku ー minami Earthquake (M7.1) 2004 The Mid Niigata prefecture Earthquake(M6.8) 2007 The Niigataken Chuetsu-oki Earthquake(M6.8) 2008 The Iwate-Miyagi Nairiku Earthquake (M6.2) Earthquake preparedness 1.Risk Mgmt Manual & regular training 2.Implementation of protection measures 3.Relationships with infrastructure manufacturers 4.Cooperative world-wide supply-chain structure Group Company Alps Logistics With the help of Alps Logistics emergency supplies are sent to the affected production bases Preparedness from previous experience and a strong network with stakeholders work to maximum effect Good relation with Construction companies Local governments Quick recovery 5

6 From Occurrence of Earthquake to Recovery Ireland Czech Germany China Japan Korea Mexico Production Ratio 生産比率 5% 7% Production Base 5% 4% 7% 5% 5% 41% 38% 38% 4% Greater China Greater China Japan 41%Japan America America Korea Europe Korea ASEAN Europe Malaysia ASEAN Flexibility provided by cooperative global complementary production system 6

7 213 Results of FY2010 Change in Consolidated Sales Avr. Ex-Ratio JPY/USD Change Billion Yen Effect of exchange rate Billion Yen Depreciation of USD against JPY (Bil. Yen) Billion Yen ( E. Components -5.2, Audio Equipment -5.3) Depreciation of EUR against JPY Billion Yen ( E. Components -7.1, Audio Equipment -5.9) Others Logistics Other currencies Billion Yen ( E. Components -4.0) Excluding exchange rate effect Audio Equipment Billion Yen Increase in sales of Electronic Electronic Components Components Billion Yen Increase in sales of Audio Equipment Billion Yen Increase in sales of Logistics Billion Yen 7

8 213 Results of FY2010 Change in Operating Income Change Billion Yen (Bil. Yen) % % Ratio to the Sales Others Logistics Audio Equipment Electronic Components Note: Data shown is before elimination of consolidated accounts. Effect of exchange rate Billion Yen Depreciation of USD against JPY Billion Yen ( E. Components -1.8, Audio Equipment -0.5) Depreciation of EUR against JPY Billion Yen ( E. Components -1.5, Audio Equipment -1.8) Other Currencies Billion Yen ( E. Components -0.4) Excluding exchange rate effect Billion Yen Increase in Electronic Components Increase in Audio Equipment Increase in Logistics Billion Yen Billion Yen Billion Yen 8

9 Results of FY2010 Overview of Electronic Components Segment Breakdown of Sales Change Billion Yen (Billion Yen) AUTO ( Billion Yen) Sales of both component products for luxury automobiles and automotive electronics remain steady due to a stable recovery in automobile production volume HM & I ( Billion Yen) Touch panel sales are rising well in light of more demand for mobile devices such as smartphones. (+6.5 Billion Yen) AUTO HM&I Increase in sales of new module products for home game consoles. (+14.5 Billion Yen) Decrease in sales of key-boards for notebook PCs due to decrease in demand in the PC market. (- 7.6 Billion Yen) Decrease in sales of TV tuners and communication modules for AV products. (- 4.4 Billion Yen) 9

10 Results of FY2010 Overview of Electronic Components Segment Change in Operating Income Change Billion Yen (Billion Yen) 4.4% Ratio to the Sales Effect of exchange rate Billion Yen % Q 3Q 2Q 1Q Depreciation of USD against JPY Billion Yen Depreciation of EUR against JPY Billion Yen Other Currencies Billion Yen Excluding exchange rate effect Billion Yen Increase in Net Sales Billion Yen Production process improvements and a reduction in variable costs are continuing, while fixed costs have slightly increased due to a rise in labor costs Billion Yen 10

11 (Reference) Effect of Fluctuation of Exchange Rates Amount Affected to Sales and Operating Income Per 1 < Consolidation Base > Sales: 0.25 Billion Yen/month against USD 0.05 Billion Yen/month against EUR Operating Income: 0.04 Billion Yen/month against USD 0.02 Billion Yen/month against EUR < Electronic Components Segment > Sales: 0.19 Billion Yen/month against USD 0.02 Billion Yen/month against EUR Operating Income: 0.03 Billion Yen/month against USD 0.01 Billion Yen/month against EUR Note: Based on the results of FY

12 Forecast of FY2011 Summary FY2011 Forecast FY H 2 H Total Results (Unit: Billions of JPY) Difference Electronic Components % (AUTO Division) (58.0) (65.5) (123.5) (124.9) -(1.4) -1.1% (HM&I Division) (82.0) (94.5) (176.5) (171.2) (5.3) 3.1% Audio Equipment % Logistics % Others % Net Sales % % % % % Electronic Components % % % % % Audio Equipment % % % % % Logistics % % % % % Others % % % % % Eliminations Operating Income % % % % % Ordinary Income % % % % % Net Income % % % % % F JPY/USD X JPY/EUR

13 Forecast of FY2011 Capital Expenditures, Depreciation Expenses and R&D (Billion Yen) '09 Results '10 Results '11 Forecast '09 Results '10 Results '11 Forecast '09 Results '10 Results '11 Forecast Cap - Ex Depreciation Expenses R & D E. Components Audio Logistics & Others 13

14 Forecast of FY2011 Overview of Electronic Components Segment Breakdown of Sales Change Billion Yen (Billion Yen) AUTO ( Billion Yen) Sales have seen a downward trend in FY2011-1H due to the impact of the earthquake disaster, but are expected to recover during FY2011-2H HM & I ( Billion Yen) Touch panel sales are rising well in light of more demand for mobile devices such as smartphones. (+10.0 Billion Yen) AUTO While components sales for mobile devices are strong, products for other markets are seeing a general downward trend due to the impact of the earthquake disaster and weak market conditions HM&I

15 Forecast of FY2011 Overview of Electronic Components Segment Change in Operating Income Change Billion Yen (Billion Yen) % % 2H 1H Ratio to the Sales Effect of exchange rate Billion Yen Depreciation of USD against JPY Billion Yen Depreciation of JPY against EUR Billion Yen Excluding exchange rate effect Billion Yen Increase in Net Sales Billion Yen Costs decreased due to implementation of structural reforms etc Billion Yen

16 Dividend Schedule FY2010 Year end Dividend (27 th Jun., FY2011 Interim Dividend (End of Nov., The The contents included in in this this presentation are are based based on on currently available information. To To the the extent extent that that statements in in this this presentation do do not not relate relateto to historical or or current current facts, facts, they they constitute forward-looking statements based based on on current current assumptions and and beliefs. beliefs. Alps Alps Electric Electric cannot cannot guarantee the the outcome of of these these forward-looking statements. Finally, Finally, the the information in in this this presentation is is not not subject subject to to inspection by by certified public public accountants. 16

17 Consolidated financilal results FY2010 (Apr.'10 - Mar.'11) Basic Datas May, 2011 Alps Electric Co., Ltd.

18 1.Outline (Est) 1st Half Net Sales 7,081 6,926 5,389 4,936 5,506 5,400 2,550 Domestic 1,784 1,942 1,546 1,424 1, Overseas 5,297 4,984 3,843 3,511 4, Operating Income Ordinary Income Net Income Net Sales (by segments) Japan 1,784 1,942 1,546 1,424 1,427 United States 1,534 1, EU 1,645 1,660 1,449 1,240 1,435 Asia 2,072 1,868 1,494 1,482 1,672 Others Total 7,081 6,926 5,389 4,936 5,506 3.Performances (Unit:Yen) EPS EPS after adjustment PBR 1, , ROE 2.4% 2.2% 45.9% 0.5% 9.8% ROA 0.9% 0.8% 16.1% 0.1% 2.7% Equity Ratio 37.1% 39.2% 29.6% 27.4% 27.0% Debt Redemption Years Debt Equity Ratio 51.8% 37.7% 94.0% 103.3% 103.9% Interest Coverage Ratio Cash Flow by Sales operations by Investments Free Cash Flow by Finacial operations Cash balances Inventories Consolidated Amount Turnover Capital Expenditures, Depreciation Expenses (Est) 1st Half Cap Ex Depreciations (Note) Estimate booked on the basis of order forecast including lease. 7.R & D Expenses (Est) 1st Half Expenses Ratio by Net Sales 6.6% 6.1% 7.5% 5.6% 5.1% 5.9% 6.5% 8.Employees (Unit:Person) Headcount at the end 36,976 41,224 37,656 36,520 38,547 Consolidated Basic Datas - 1 -

19 Consolidated Basic datas by segments 1.Net Sales (Est) 1st Half Electronic Components 3,964 3,914 2,919 2,741 2,961 3,000 1,400 AUTO ,125 1,249 1, HM&I ,616 1,712 1, Components (926) (999) (768) (856) Magnetic devices (526) (126) (-) (-) Communications (542) (561) (446) (333) Peripheral products (997) (1,136) (923) (751) Automotive electronics (971) (1,090) (781) (799) Audio equipment 2,612 2,475 1,932 1,661 1,983 1, Logistics Others Total 7,081 6,926 5,389 4,936 5,506 5,400 2,550 Ref1: The sales of Magnetic Devices includes in the Components from FY2008. Ref2: We changed the segment informations from FY2009. Ref3: From the beginning of this fiscal year, the "Logistics and others segment" has been split into the "Logistics segment" and "Others" due to the change of reporting segments. 2.Operating Income (Est) 1st Half Electronic Components Audio equipment Logistics Others Eliminations Total Order Backlog 2007/3 2008/3 2009/3 2010/3 2011/3 Electronic Components Audio equipment Logistics Others - Total Inventories 2007/3 2008/3 2009/3 2010/3 2011/3 Electronic Components Audio equipment Logistics Others 0 Eliminations Total Turnover Electronic Components Audio equipment Total Capital Expenditures (Est) 1st Half Electronic Components Audio equipment Logistics Others Eliminations Total Depreciation Expenses (Est) 1st Half Electronic Components Audio equipment Logistics Others Eliminations Total Loan Balance Electronic Components Audio equipment Logistics Others 101 Eliminations Total 1, ,044 1,163 1,199 8.R & D Expenses (Est) 1st Half Electronic Components Audio equipment Logistics Others Total Employees (Unit:Person) Electronic Components 20,381 23,334 21,182 20,633 22,522 Audio equipment 12,456 13,403 11,573 10,913 10,835 Logistics 4,386 4,139 4,487 4,901 4,974 Others 804 Total 36,976 41,224 37,656 36,520 38,547 (Non Consolidated) 5,777 5,759 5,805 5,854 5,600 (Ref.) All figures exclude temporary employees