FY2013/３Q Financial Results Fujikura Ltd. 2014年2月3日 1. FY2013/3Q Financial Results and Forecast of FY2013 Financial Results 2．By Segment 3. Shareholder Return 1 1. FY2013/3Q Financial Results and Forecast of FY2013 Financial Results 2 FY2013/3Q Financial Results and Forecast of FY2013 Financial Results (Billions of Yen) FY2012 1-3Q Net Sales（単位：億円） 4Q FY2013 （Forecasted on Oct 28） FY2013 FY2012 1-3Q 4Q (F) FY2013 (F) FY2013 363.4 127.7 491.1 439.6 150.4 590.0 580.0 Operating Income 5.5 0.9 6.4 15.8 5.2 21.0 17.0 Operating Income Margin (%) 1.5 0.7 1.3 3.6 3.5 3.6 2.9 Equity Method Income (loss) 0.1 (0.8) (0.7) 1.1 (1.1) 0 1.6 Ordinary Income (Loss) 2.8 (1.6) 1.2 13.8 0.2 14.0 12.0 (0.9) 3.9 3.0 3.1 0.9 4.0 7.5 (2.60) 6.05 8.65 9.43 2.68 11.93 22.26 － － 5.00 3.00 3.00 6.00 6.00 79.96 － 82.92 99.36 － － － 669 － 696 728 － － － Net Income (Loss) Net Income per Share (JPY) Dividend per Share (JPY) Exchange Rate (JPY/US$) <Averare for Period> Copper Base (JPY '000/ton) <Average for Period> 3 Summary of FY2013/1-3Q Financial Results and Full Year Forecast Net sales, Operating Income and Ordinary Income increased on QoQ basis due to the favorable effects of currency exchange rate, the recovery of the Electronics business from Thai flood and increasing Net Sales of Automotive Products. Net Income has turned into the black. For the full year forecast, compared with the estimated figure announced on October 28, Operating Income and Ordinary Income are estimated to increase, but Net Income is estimated to be lower than the previous forecast, due to posting the improvement cost of restructuring as the extraordinary loss. 4 Canyon Chart between FY2012 1-3Q and FY2013 1-3Q Net Sales (Billions of Yen) Net Changes Depreciation of Yen +46.6 Cu Price Impact +22.0 +7.6 Year on Year +76.2 FY2012/1-3Q FY2013/1-3Q 5 Canyon Chart between FY2012 1-3Q and FY2013 1-3Q Operating g Income (Billions of Yen) Restructuring Depreciation of Yen +1.5 Cu price Impact (0.2) Net Changes +3.1 +5.9 15.8 5.5 FY2012/1-3Q 12年度３Q累計 Year on Year +10.3 Note) FY2013 /1‐3Q Operating Income doesn’t include 2.7 billion yen of the fixed cost during suspending operation in 実績 Thailand which was recorded as the extraordinary loss. FY2013/1-3Q 13年度３Q累計 実績 6 FY2013/1-3Q Extraordinary Profit and Loss Extraordinary Profit and Loss (Billions of Yen) FY2012 1-3Q Operating Income FY2013 Full Year 1-3Q 5.5 6.4 15.8 0.1 (0.7) 1.1 2.8 1.2 13.8 Extraordinary Profit 11.0 21.1 0.9 Extraordinary Loss 11.7 16.5 5.3 2.2 5.9 9.4 Total Income Taxes 2.3 2.5 5.9 Minority Interests in Income (Loss) 0.7 0.3 0.2 (0.9) 3.0 3.1 Equity Method Profit (Loss) Ordinary Income Income (Loss) before Income Taxes and Minority Interests Net Income Mainly consisted of restructuring cost for the domestic and the overseas bases (Impairment loss and write-downs: US$3.7 Bil, the cost for the early retirement programs: US$0.7 Bil.) Reduction of US$1.5 billion of fixed cost is estimated annually from the next fiscal year 7 Consolidated B/S (1) (Billions of Yen) As of end of March 2013 As of end of Dec. 2013 GAP 〈Assets〉 528.9 567.4 38.5 Current Assets 247.2 278.9 31.6 Cash and Deposits 43.1 45.5 2.3 Notes and Account Recievable 122.4 143.0 20.5 60.4 68.7 8.3 281.6 288.4 6.8 182.3 186.3 4.0 14.0 15.2 1.2 196.3 201.6 5.2 85.2 86.8 1.6 Inventories Fixed Assets Tangible Fixed Assets Intangible Fixed Assets Sub Total Total Investments and Other Assets reflected increasing of Net Sales 8 Consolidated B/S (2) (Billions of Yen) As of end of As of end of March 2013 Dec. 2013 GAP Total 528.9 567.4 38.5 〈Liabilities〉 324.1 349.7 25.5 67.5 79.2 11.6 189.4 209.2 19.8 42.3 38.0 (4.2) 204.7 217.7 12.9 188.8 185.3 (3.5) 1.7 17.7 16.0 14.1 14.5 0.4 Note and Account Payable Interest Bearing Debt Other Current Liabilities 〈Net Asstes〉 Shareholder's Equity Total Valuation and Translation Adjustments Minority Interests Working capital increased reflecting Net sales Share Buy-back US$ (6.0) billion 9 2．By Segment 10 Actual and Forecast of Net Sales and OP by segment (Billions of Yen) Operating Income and Operating Income Margin Net Sales Segment Power & Telecommunication Systems Company Electronics Business Company FY2012 1-3Q 232.1 57.1 FY2013 1-3Q 258.0 79.1 GAP 25.9 22.0 FY2013 347.3 104.3 Automotive Products Company 63.7 90.6 26.8 122.5 Real estate Company 8.0 8.4 0.3 11.2 Others 2.3 3.3 1.0 4.7 363.4 439.6 76.2 590.0 Total FY2012 1-3Q FY2013 1-3Q GAP FY2013 7.3 11.4 4.2 15.4 3.2% 4.4% 1.3% 4.4% (6.4)* (2.6) 3.7 (3.5) (11.1)% (3.3)% 7.8% (3.3)% 1.7 4.1 2.3 5.4 2.7% 4.5% 1.8% 4.4% 3.6 4.0 0.4 5.4 45.0% 47.5% 3.5% 48.1% (0.7) (1.1) (0.3) (1.6) (29.9)% (34.5)% (4.6)% (33.4)% 5.5 15.8 10.3 21.0 1.5% 3.6% 2.1% 3.6% * FY2013 /1‐3Q Operating Income doesn’t include 2.7 billion yen of the fixed cost during suspending operation in Thailand which was recorded as the extraordinary loss. 11 Power & Telecommunication Systems Company In FY2013/1-3Q, Net sales and Operating Income increased due to improved profitability of the export business under weaker Yen in addition to favorable demand in the optical components and the engineering business in the US market. Net sales and Operating Income for FY2013 full year forecast are estimated to increase because of weaker Yen effect, the favorable business in the US, and enhancement of oversears production. (Billions of Yen) Net Sales and Operating Income Infrastructure Unit インフラ事業部門 Optical FIber Unit 光事業部門 Operating Income 営業利益率 Margin 258.0 Infrastructure Unit 347.3 312.2 232.1 262.3 195.0 Optical Fiber Unit 239.9 179.9 3.2% 52.2 4.4% 3.3% 4.4% 63.0 72.4 85.0 FY2012 12年度 FY2013 (F) 13年度予想 FY2012/1-3Q 12/1-3Q FY2013/1-3Q 13/1-3Q In FY2013/1-3Q, weaker Yen effect and the favorable overseas engineering business increased Net Sales. Weaker Yen and increasing demand in the overseas engineering business as well as the domestic construction market estimate increasing of Net Sales. In FY2013/1-3Q, Net Sales increased due to enhancement of overseas production lines, favorable forecasts in the optical component business, and the increasing sales volume mainly in the optical fiber and the arc fusion splicers. Favorable business forecast in the optical component business and weaker Yen estimates Net Sales increase. Note) Upper row comment says on comparison to FY2012/1-3Q Lower row comment says FY2013 full year forecast 12 Electronics Business Company In 2013/1‐3Q, Net Sales increased by regaining the orders of FPC and others, after recovering from the Thai flood damage. For FY2013 full year forecast, Net Sales is estimated to increase through recovering FPC business and others. (Billions of Yen) Net Sales and Operating Income FPC In 2013/1‐3Q, recovery from the Thai flood damage increased Net Sales. For FY2013 full year forecast, Net Sales is estimated to increase by increasing of orders mainly for smart phones. ＦＰＣ FPC Connector コ ネク タ その 他 Others 営業利益率 Operating Income Margin 104.3 79.1 57.1 31.8 76.5 41.0 30.5 31.7 23.3 24.1 20.5 32.8 27.0 ▲3 . 3 ％ ▲1 1 . 1 ％ FY2012/1-3Q 12/1-3Q FY2013/1-3Q 13/1-3Q In 2013/1‐3Q, Net Sales decreased due to intensifying price competetion for smart phones. For FY2013 full year forecast, Net Sales is estimated to decrease due to continuing price competion. 17.9 12.3 24.5 Connector ▲ 3.3% ▲ 12.6% FY2012 12 年度 13FY2013 年 度 予(F) 想 Others In2013/1‐3Q, Net Sales increased due to the increasing sales for HDD components, micro coaxial cable assembly, and others. For FY2013 full year forecast, Net Sales is estimated to increase due to the increasing orders for HDD components, thermal porducts and others. Note) Upper row comment says on comparison to FY2012/1-3Q Lower row comment says FY2013 full year forecast 13 Automotive Products Company In FY2013/1‐3Q, Net Sales and Operating Income increased due to increasing demand of overseas market, recovering sales to the Japanese car manufacturers in China, and the wearker Yen For FY2013 full year forecast, Net Sales and Operating Income is estimated to increase due to increasing sales mainly for wire harness (Billions of Yen) Automotive Net Sales and Operating Income 営業利益率 Operating Income Margin 122.5 90.6 87.8 In FY2013/1-3Q, Net Sales increased due to increasing demand of overseas market mainly for the emerging countries, recovering sales to the Japanese car manufacturers in China, and the wearker Yen For FY2013 full year forecast, Net sales is estimated to increase due to launch of new models 63.7 Note) Upper row comment says on comparison to FY2012/1-3Q Lower row comment says FY2013 full year forecast 2.7% FY2012/1-3Q 12/1-3Q 4.5% FY2013/1-3Q 13/1-3Q 2.3% FY2012 12年度 4.4% FY2013 (F) 13年度予想 14 Real Estate Company Real estate lease income mainly by “Fukagawa Gatharia" continuously contribute to revenue (Billions of Yen) Real Estate Net Sales and Operating Income Steady revenue from real estate lease income is estimated throughout the fiscal year. Operating Income Margin 営業利益率 10.9 8.1 45.0% FY2012/1-3Q 12/1-3Q 11.2 8.4 47.5% FY2013/1-3Q 13/1-3Q 45.8% FY2012 12年度 48.1% FY2013 (F) 13年度予想 (参考値） 15 CAPEX and Depreciation Cost (Billions of Yen) FY2012 1-3Q CAPEX (exclude the budget for recovering from the Thai food damage) (for manufacturing business) (for real estate business) Depreciation cost (for manufacturing business) (for real estate business) Full Year FY2013 1-3Q 25.1 37.0 17.0 21.1 32.3 16.8 4.0 4.7 0.2 18.2 25.4 20.0 16.5 23.2 18.3 1.6 2.2 1.6 Note) ‒ The above figures include the leasing cost ‒ The budget for recovering from the Thai flood damage: FY2012 JPY 17.5 Billion、 FY2013 JPY 3.6 Billion 16 3. Shareholder Return 17 Shareholder Return Dividend per Share FY2012 JPY 5.0/share Stock Repurchase FY2012 Total 19.0 million shares/JPY 4.9 billion FY2013 Total 14.7million shares/ JPY 6.0 billion FY2013 dividend pay out plan ： JPY 6.0/share （1H: JPY 3.0/share, 2H JPY 3.0/share） 18 Special Notes:Spe Statements in this presentation that relate to future results and events (including statements regarding Fujikura’s revenue and earnings guidance) are based on Fujikura’s current expectations. Actual results in future periods may differ materially from those currently expected because of a number of risks and uncertainties. These factors include the effects of general economics on the level of demand for Fujikura’s products and services, and on Fujikura’s ability to manage supply and delivery logistics; the level and intensity of competition in the electronic and telecommunication equipment industries, the pricing pressures that result, the ability of Fujikura to timely and effectively manage product transitions, component/material availability and cost; the ability of Fujikura to develop new products based on new or evolving technology; and the ability of Fujikura to manage its inventory levels to minimize excess inventory. 【Contact】 Investor Relation Group TEL:+81 3 5606 1112 FAX:+81 3 5606 1539 E-mail: [email protected]