Hamamatsu Second Quarter Report (Summary) Fiscal Year ending September 30, 2015 June 2015 Hamamatsu Photonics K.K. Tokyo Stock Exchange: 6965 www.hamamatsu.com Notes This material is not intended to be a solicitation to buy or sell any securities of Hamamatsu Photonics K.K. The information contained in this material is based on data available as of making it. No guarantees, promises are made as to its accuracy or completeness. Semi-Annual Consolidated Performance in million yen Financial Highlights Fiscal Years ending September 30,2015 FY 2014 1st Half Net Sales 2nd Half FY 2015 1st Half Year compared with prev. year 2nd Half (proj) Year (proj.) compared with prev. year 56,680 55,412 112,092 62,229 +9.8% 62,070 124,300 +10.9% Operating Income 11,078 10,586 21,665 13,777 +24.4% 11,422 25,200 +16.3% Ordinary Income 11,422 11,108 22,531 14,582 +27.7% 11,517 26,100 +15.8% Net Income 7,468 7,687 15,155 9,861 +32.0% 8,438 18,300 +20.7% Net Income per share (yen) 46.45 47.81 94.26 61.33 +32.0% 52.48 113.81 +20.7% 25 30 55 30 Dividends (yen) Exchange Rates actual rate +5 16(32) actual rate 46(62) +7 assumption rate 1 US dollar(yen) 101.53 - 102.29 116.73 - - 115.00 - 1 euro(yen) 138.62 - 138.76 138.47 - - 135.00 - 1 Sales & Profit (Consolidated) Sales Fiscal Years ending September 30 in million yen 140,000 30,000 Profit 120,000 25,000 100,000 20,000 80,000 15,000 60,000 10,000 40,000 5,000 20,000 0 FY2015 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 Net Sales(Left) 98,811 71,976 90,959 101,858 98,067 102,156 112,092 124,300 Ordinary Income(Right) 20,882 4,794 16,059 22,216 18,350 17,883 22,531 26,100 Net Sales(Right) 13,117 1,791 11,491 13,702 11,206 11,529 15,155 18,300 2 (Proj.） 0 Capital Investment (payment based) & Depreciation Fiscal Years ending September 30 Major Items For FY ending September 30, 2015 New Building at Electron Tube Div. 3.3 billion yen Solid State Division: MOEMS manufacturing equipment 1.9 billion yen Industries Development Laboratory: Laser irradiation Building 400 million yen Central Research Laboratory: High-voltage power supply. 400 million yen in million yen 12,000 9,617 10,000 8,000 7,283 6,000 4,914 3,585 4,000 2,000 0 1st half 2nd half FY2013 1st half 2nd half FY2014 1st half 2nd half (Proj.) FY2015 (Proj.) Capital Inv. (cons.) 3,939 5,245 7,957 7,542 7,283 9,617 Capital Inv. (non-cons.) 3,598 4,797 7,167 7,023 6,404 8,896 Depreciation (cons.) 3,586 4,183 3,434 3,962 3,585 4,914 Depreciation (non-cons.) 3,305 3,852 3,122 3,619 3,231 4,568 3 R & D Expense Fiscal Years ending September 30 in million yen 7,000 6,321 10.2% 6,000 12.0% 10.0% 5,000 8.0% 4,000 6.0% 3,000 4.0% 2,000 2.0% 1,000 0 1st half 2nd half 1st half FY2013 2nd half FY2014 1st half 2nd half (Proj.) FY2015 (Proj.) R&D(consolidated) 5,182 5,703 5,309 5,668 5,479 6,321 R&D(non-consolidated) 5,057 5,567 5,123 5,559 5,344 6,166 R&D to Sales ratio(cons.) 10.3% 11.0% 9.4% 10.2% 8.8% 10.2% 4 0.0% (Consolidated) Sales by Region Fiscal Years ending September 30 FY2015 FY2014 Region 1st Half in million yen 2nd Half Year 1st Half Inc./Dec. Share Japan 19,861 16,963 36,823 19,711 -0.8% 31.7% North America 14,741 16,361 31,102 17,956 21.8% 28.8% Europe 13,832 13,850 27,683 15,175 9.7% 24.4% 8,143 8,105 16,248 9,204 13.0% 14.8% Other 103 132 236 183 77.5% 0.3% Total 56,680 55,412 102,092 62,229 9.8% 100.0% Asia and China Major countries on each region • North America: United States of America • Europe: Germany, France, U.K. • Asia and China: Israel, India, China, South Korea, Taiwan • Other: Australia 5 (Consolidated) Sales by Region Fiscal Years ending September 30 FY2014 1st Half Net Sales 56,680 Asia and China 14.4% in million yen FY2015 1st Half 62,229 Other 0.3% Other 0.2% Asia and China 14.8% Japan 35.0% Europe 24.4% Japan 31.7% Europe 24.4% North America 26.0% North America 28.9% 1 US dollar: 101.53yen 1 euro: 138.62yen 6 116.73yen 138.47yen Sales by Industry & Application 1/2 (Consolidated) Fiscal Years ending September 30 FY2013 March Medical Instrument Rad Med. Diag. Inst. (X-CT, PET, Gamma Camera, Dental Imaging) Med Inspection or Monit. Inst. (DNA, Blood Analyzer) Other Med. Inst. Industrial Instrument Semicon. Inst. (Failure Analysis, Stealth Dicing) Non Destructive Testing Factory Auto. Inst. (UV Cure, Robotic Encorder) Other Industrial Inst. (Bank Note Identification) Analytical：Material, Water, Environment FY2014 September 1st Half 2nd Half in million yen Year March % 1st Half FY2015 September 2nd Half Year March % 1st Half September 2nd Half Proj. Year proj. % 18,945 19,519 38,464 37.7 20,452 19,276 39,729 35.4 23,452 23,240 46,692 37.6 14,036 15,284 29,321 28.7 15,893 14,472 30,366 27.1 17,687 17,590 35,277 28.4 3,866 3,541 7,407 7.3 3,744 3,916 7,660 6.8 4,924 4,607 9,531 7.7 1,043 694 1,736 1.7 815 886 1,701 1.5 841 1,043 1,884 1.5 11,250 12,092 23,343 22.9 13,443 13,849 27,293 24.3 14,969 15,621 30,591 24.6 5,604 5,059 10,664 10.4 6,746 6,589 13,336 11.9 7,365 7,629 3,465 3,839 7,304 7.1 3,842 3,905 7,748 6.9 4,377 4,501 8,878 7.1 1,450 2,275 3,725 3.6 2,133 2,676 4,810 4.3 2,371 2,692 5,063 4.1 731 919 1,650 1.6 721 677 1,398 1.2 856 799 1,656 1.3 6,273 11,932 11.7 6,778 8,025 14,803 13.2 8,021 8,253 5,660 Exchange Rates actual 1 US dollar (yen) 86.57 1 euro (yen) 113.28 actual actual ー 92.84 101.53 ー 121.80 138.62 7 14,994 12.1 16,273 13.1 actual actual ー 102.29 116.73 ー 115.00 ー 138.76 138.47 ー 135.00 assumption Sales by Industry & Application 2/2 (Consolidated) Fiscal Years ending September 30 FY2013 March FY2014 September 1st Half 2nd Half in million yen Year March % 1st Half FY2015 September 2nd Half Year March % 1st Half September 2nd Half Year proj. % Academic Research: Neutrino/Dark Matter Detection 4,226 3,451 7,677 7.5 4,142 2,698 6,840 6.1 3,840 2,137 5,977 4.8 Measuring Instrument: Radiation Monitoring, Oil Well Logging 3,838 3,890 7,728 7.6 3,998 3,910 7,908 7.1 3,989 3,943 7,932 6.4 Transport Instrument: Automobile Sensor,Auto-LAN, ITS 1,439 1,640 3,080 3.0 1,905 1,986 3,892 3.5 2,167 2,148 4,315 3.5 Information/Communication: Optical Communication, Computer Storage,Communication Equipment 837 944 1,781 1.7 1,107 1,109 2,217 2.0 873 871 1,744 1.4 Optical/Photographic Instrument: Laser Microscope 1,095 1,075 2,170 2.1 1,196 1,073 2,269 2.0 1,162 998 2,159 1.7 264 252 517 317 591 0.5 288 581 0.5 2,920 2,545 5,465 5.3 3,379 3,164 6,544 5.8 3,464 4,571 8,035 6.5 51,682 102,156 100.0 56,680 55,412 112,092 100.0 62,229 62,071 124,300 100.0 Consumer Instrument: Audio Link,Auto-dimming Others/Not Classified Total Exchange Rates 50,474 actual actual 0.5 273 actual actual 293 actual assumption 1 US dollar (yen) 86.57 ー 92.84 101.53 ー 102.29 116.73 ー 115.00 1 euro (yen) 113.28 ー 121.80 138.62 ー 138.76 138.47 ー 135.00 8 Sales by Industry & Application （Consolidated） Photographic Instrument 2% in million yen Consumer 1% Optical Instrument 1% FY 2015 Projection Others/Not Classified 6% Transport Instrument(Automobile Sensor, Auto-LAN, ITS) 4% Rad Med. Diag. Inst. (X-CT, PET, Gamma Camera) 27% Measuring Instrument(Radiation Monitoring, Oil Well Logging) 6% Academic Research(Neutrino Detection, LHC Project) 5% Analytical Instrument(Material, Water, Pollution and etc,) 13% Other Industrial Inst. (Bank Note Identification) 1% Factory Auto. Inst. (UV Cure, Robotic Encorder) 4% Medical Instrument 37% Others 38% Industrial Instrument 25% Non Destructive Testing 7% Med Inspection or Monit. Inst. (DNA, Blood Analyzer) 8% Semicon. Inst. (Failure Analysis, Plasma Process Monitor) 12% 9 Other Med. Inst. (Drag screening system) 2% SALES BY THE SEGMENT Incl. intersegment sales (Consolidated) FY2013 (2012/102013/9) Year FY2014 (2013/10-2014/9) 1st Half 2nd Half in million yen FY2015 (2014/10-2015/9) Year 1st Half 2nd Half proj. Year proj. Electron Tube 45,010 23,724 23,146 46,871 25,884 24,015 49,900 Optosemiconductor 42,798 24,950 24,912 49,862 27,271 27,928 55,200 Imaging and Measurement Instruments 13,282 7,066 6,998 14,065 8,291 8,908 17,200 1,064 938 354 1,293 781 1,218 2,000 102,156 56,680 55,412 112,092 62,229 62,070 124,300 Other (Incl. Laser and excl. internal sales) Total * rounded off to million yen 10 Experiments for High-Energy Physics Using Photomultiplier Tubes(PMT) Name of Experiment Purpose of Experiment Place of Exp. start year of production (plan) Detector Number of Detectors Neutrino,Proton Decay Japan 2018 LENA Neutrino,Proton Decay 20" HPD ASSY 8" PMT ASSY Europe 2017 R11780 LZ-7 Dark Matter USA 2015 Super-NEMO Double Bata Decay Europe 2015 R5912-03 10,000 JUNO (Daya Bay Ⅱ) Neutrino China 2016 20" PMT ASSY 16,500 Deep-sea KM3NeT Neutrino Europe 2014 R12199-02 150,000 Ice experiment IceCube/PINGU Neutrino Antarctic 2016 Gamma-Ray Space Southern and Telescope Northern Hyper -Kamiokande Underground Ground-surface CTA 2015 99,000 25,000 32,000 450 4,000 R11920-100 96,000 Hemisphere Space JEM-EUSO Accelerator RICH/LHC-B/CERN experiment RICH/CBM/GSI Extreme energy ISS 2017 5,000 Collision experiments(Higgs) Europe 2015 4,000 Fixed target experiment Europe 2015 850 cosmic ray particle 11 Laser Irradiation Building This building is to house the company s research into applications of the world s most powerful 100-joule class, high repetition rate, laser-diode pumped, all-solid-state laser. The new building is located on the site of Hamamatsu s Industries Development laboratory (Nishi-ku, Hamamatsu), where the company s Power Laser Development Section works on projects related to laser fusion for power generation. 12 Asia HAMAMATSU PHOTONICS K.K. Headquarters HAMAMATSU PHOTONICS (CHINA)Co., Ltd. Head Office / Shanghai Branch BEIJING HAMAMATSU PHOTON TECHNIQUES INC. Head Office / Langfang Factory America HAMAMATSU CORPORATION Main Office / California Office / Chicago Office / Boston Office PHOTONICS MANAGEMENT CORP. Europe HAMAMATSU PHOTONICS EUROPE GmbH HAMAMATSU PHOTONICS DEUTSCHLAND GmbH Main Office / Netherlands Office / Poland Office / Danish Office HAMAMATSU PHOTONICS FRANCE S.A.R.L. Main Office / Swiss Office / Belgian Office / Spanish Office HAMAMATSU PHOTONICS NORDEN AB Main Office / Russian Office HAMAMATSU PHOTONICS ITALIA S.r.l. Main Office / Rome Office HAMAMATSU PHOTONICS UK Limited Main Office / South African Office