earnings presentation for 3q fy2012 - citizenearnings presentation for 3q fy2012 feb 13, 2013 the...
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![Page 1: Earnings Presentation for 3Q FY2012 - citizenEarnings Presentation for 3Q FY2012 Feb 13, 2013 The estimates and projection in this presentation are forward-looking statements based](https://reader036.vdocuments.site/reader036/viewer/2022081617/6023a5c624f5f701b13f32d8/html5/thumbnails/1.jpg)
Earnings Presentation for 3Q FY2012
Feb 13, 2013
The estimates and projection in this presentation are forward-looking statements based on
the information available at the time of the announcement. Actual results may differ materially
depending on a variety of factors.
Figures less than 1 billion yen have been rounded down.
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1. 3Q12 Results
(3 months ended Dec. 31, 2012)
2. 3Q12 Results
(9 months ended Dec. 31, 2012)
Supplementary Information
3. FY12 Forecast
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3Q12 (3 months ended Dec. 31, 2012) Summary
3Q11 3Q12 YoY Change
(billion yen) Results% to net
salesResults
% to net
salesAmount %
Net sales 76.5 - 71.1 - ▲5.4 ▲7.1%
Operating
income6.6 8.7% 3.6 5.1% ▲3.0 ▲45.4%
Ordinary
income7.1 9.3% 5.0 7.1% ▲2.1 ▲29.6%
Net income 2.3 3.0% 3.6 5.1% +1.3 +56.8%
Exchange
rate
¥77/USD ¥80/USD +¥3/USD
¥104/EURO ¥103/EURO ▲¥1/EURO
Annual effect of
exchange rate
(1 weaker yen)
Net sales Operating income
USD +1,200 million yen +400 million yen
EURO +120 million yen +50 million yen
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Quarterly Results
67.576.5 65.2
2.36.6 3.2
70.4
4.4
67.1
3.6
71.1
0.6
(billion yen)
Net sales
Operating
income
(billion yen)
3Q12 Results (3 months) ・4Q12 Forecast
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41.7 32.5 31.2 34.8 40.7 35.1 5.7 1.8 2.0 3.4 4.3 2.1
Watches and Clocks
(billion yen)
Sales Operating income
(billion yen)
3Q12 Results (3 months) ・4Q12 Forecast
3Q12 Results (Compared to 3Q11)
Net sales ▲¥1.0B Operating income ▲¥1.3B
• Domestic market: Steady sales in high-end products and robust sales during
the year-end shopping season
• Overseas market: Decrease in revenue due to the European market slump and
the slowing economy in China
• Movement: Stagnant state continues in Europe and China
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9.6 11.9 9.5 10.6 6.3 8.9 1.1 1.7 1.0 1.1 ▲0.2 ▲0.4
Machine Tools
Sales Operating income
(billion yen) (billion yen)
3Q12 Results (3 months) ・4Q12 Forecast
3Q12 Results (Compared to 3Q11)
Net sales ▲¥3.3B Operating income ▲¥1.4B
• Domestic: Continuing market down trend and decrease in revenue due to changes
such as a decline in motivation for capital expenditures
• Asia: Decrease in revenue due to the slowing growth of China and stagnant market after
the post-flood reconstruction in Thailand.
• U.S.: Increase in revenue due to steady sales in automobiles and medical products
• Europe: Stagnant without improvement in motivation for capital expenditures
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15.4 14.1 15.3 16.1 14.1 14.2 0.1 ▲0.3 0.6 0.6 ▲0.1 ▲0.0
Devices and Components
Sales Operating income
(billion yen) (billion yen)
3Q12 Results (3 months) ・4Q12 Forecast
3Q12 Results (Compared to 3Q11)
Net sales ▲¥1.2B Operating income ▲¥0.3B
• LED: Solid sales in lighting and in-vehicle LED while stagnant in mobile device market
• Quartz crystals: Increase in revenue through recovery in quartz crystal blank
• Micro display: Decrease in revenue due to production adjustment by customers, etc.
• Automobile components: Increase in revenue with a steady transition
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4.9 5.8 4.8 5.4 5.5 5.5 0.0 0.3 0.0 0.0 0.1 0.1
Electronic Products
Sales Operating income
(billion yen) (billion yen)
3Q12 Results (3 months) ・4Q12 Forecast
3Q12 Results (Compared to 3Q11)
Net sales +¥0.5B Operating income +¥0.0B
• POS printer and label printer: Increase in revenue due to solid sales in the U.S. market
• Dot printer: Increase in revenue due to solid sales in the Chinese market.
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4.6 3.0 4.3 3.2 4.2 3.1 0.2 ▲0.2 0.3 ▲0.0 0.2 ▲0.0
Other Products
Sales Operating income
(billion yen) (billion yen)
3Q12 Results (3 months) ・4Q12 Forecast
3Q12 Results (Compared to 3Q11)
Net sales ▲¥0.4B Operating income +¥0.0B
• Jewelry: Decrease in revenue due to decline in sales of high-end products that
have boosted the overall sales
• Pachinko-related products: Decrease in revenue due to reduced investment
by customers experiencing economic uncertainty.
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1. 3Q12 Results
(3 months ended Dec. 31, 2012)
2. 3Q12 Results
(9 months ended Dec. 31, 2012)
Supplementary Information
3. FY12 Forecast
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3Q12 (9 months ended Dec. 31, 2012) Summary
1-3Q11 1-3Q12 YoY Change
(billion yen) Results% to net
salesResults
% to net
salesAmount %
Net sales 212.2 - 206.8 - ▲5.4 ▲2.5%
Operating
income14.1 6.7% 11.3 5.5% ▲2.8 ▲20.0%
Ordinary
income13.2 6.2% 11.9 5.8% ▲1.2 ▲9.7%
Net income 6.7 3.2% 8.1 3.9% +1.3 +20.0%
Exchange
rate
¥79/USD ¥80/USD +¥1/USD
¥112/EURO ¥101/EURO ▲¥11/EURO
Annual effect of
exchange rate
(1 weaker yen)
Net sales Operating income
USD +1,200 million yen +400 million yen
EURO +120 million yen +50 million yen
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Operation Results
14.8
215.9 212.2 206.8
14.1 11.3
Net sales
▲¥5.4B
3Q12 Results (9 months)
Sales
Operating
Income
(billion yen)
(billion yen)
Operating income
▲¥2.8B
1-3Q12 Results
(Compared to 1-3Q11)
1-3Q12 Results
(Compared to 1-3Q11)
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106.5 106.8 12.3 11.2106.8 9.8
Watches and Clocks
Sales Operating income
(billion yen) (billion yen)
1-3Q12 Results (Compared to 1-3Q11)
Net sales ▲¥0.0B Operating income ▲¥1.4B
3Q12 Results (9 months)
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Machine Tools
26.1 30.0 1.6 3.326.5 1.9
Operating income
(billion yen) (billion yen)
Sales
3Q12 Results (9 months)
1-3Q12 Results (Compared to 1-3Q11)
Net sales ▲¥3.4B Operating income ▲¥1.4B
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55.3 47.2 2.7 1.345.7 1.1
Devices and Components
Sales Operating income
(billion yen) (billion yen)
3Q12 Results (9 months)
1-3Q12 Results (Compared to 1-3Q11)
Net sales ▲¥1.5B Operating income ▲¥0.2B
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Electronic Products
15.9 16.7 0.4 0.515.9 0.2
Operating income
(billion yen) (billion yen)
Sales
3Q12 Results (9 months)
1-3Q12 Results (Compared to 1-3Q11)
Net sales ▲¥0.7B Operating income ▲¥0.3B
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Other Products
11.8 11.4 ▲0.0 ▲0.111.8 0.5
Operating income
(billion yen) (billion yen)
Sales
3Q12 Results (9 months)
1-3Q12 Results (Compared to 1-3Q11)
Net sales +¥0.3B Operating income +¥0.6B
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1. 3Q12 Results
(3 months ended Dec. 31, 2012)
2. 3Q12 Results
(9 months ended Dec. 31, 2012)
Supplementary Information
3. FY12 Forecast
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FY2012 Forecast
FY12 FY11
(billion yen)2/12
Forecast
% to net
sales
11/7
Forecast
% to net
salesResults
% to net
sales
FY
Net sales 274.0 - 280.0 - 279.7 -
Operating
income12.0 4.4% 14.5 5.2% 16.5 5.9%
Ordinary
income13.0 4.7% 13.5 4.8% 16.7 6.0%
Net income ▲6.0 ▲2.2% 8.5 3.0% 7.6 2.8%
Exchange rate¥83/USD ¥80/USD ¥79/USD
¥107/EURO ¥101/EURO ¥110/EURO
2H
Net sales 138.2 - 144.2 - 144.0 -
Operating
income4.2 3.1% 6.7 4.6% 8.9 6.2%
Ordinary
income6.0 4.4% 6.5 4.5% 10.6 7.4%
Net income ▲10.4 ▲7.6% 4.0 2.8% 3.2 2.3%
Exchange rate¥85/USD ¥80/USD ¥78/USD
¥112/EURO ¥100/EURO ¥104/EURO
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Full-year Results
Net sales
Operating
income
(billion yen)
284.9 279.7 280.0
14.5(billion yen)
274.0
16.7 16.5 12.0
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1. 3Q12 Results
(3 months ended Dec. 31, 2012)
2. 3Q12 Results
(9 months ended Dec. 31, 2012)
Supplementary Information
3. FY12 Forecast
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R&D
Supplementary
(billion yen)
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Capex / Depreciation
25.1
8.7
20.021.4
20.1
14.9 14.4 14.2
16.0
19.5
13.9
17.2
0
4
8
12
16
20
24
28
32
FY07 FY08 FY09 FY10 FY11 FY12E
Capex
Depreciation
Supplementary
(billion yen)
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<summary> Consolidated Statement of Cash Flow
1-3Q/FY11 1-3Q/FY12
Cash flows from operating activities 11,582 12,118
Cash flows from investing activities ▲10,786 ▲19,661Cash flows from financing activities ▲3,196 1,910
Effect of exchange rate changes on cash and
cash Equivalents▲3,454 1,892
Net increase in cash and cash equivalents ▲5,854 ▲3,739Cash and cash equivalents at beginning of
term68,201 68,937
Cash and cash equivalents at end of term 63,365 65,198
(reference)
Depreciation 10,236 11,149
Capex 11,551 14,429
(million yen)
Supplementary
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Free Cash Flow
26.3
14.6
33.4
21.9 19.5
58.6
30.6
6.4
14.4 15.1
26.97.5 4.4
▲▲▲▲16
▲▲▲▲32.2
0
15
30
45
60
FY07 FY08 FY09 FY10 FY11
Free cash flow
Cash flow from investing activities
Cash flow from operating activities
13.7
▲▲▲▲ 31.1▲▲▲▲ 5.2 ▲▲▲▲ 0.1▲▲▲▲ 1.6
▲ 40
▲ 20
0
20
40
FY07 FY08 FY09 FY10 FY11
Net cash flow
FY07 FY08 FY09 FY10 FY11
Supplementary
(billion yen)
(billion yen) ※Net cash flow=Cash and cash equivalents + Marketable securities-Interest bearing debt
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346,840,088
324,004,850322,120,471320,257,278
333,777,359
300,000,000
325,000,000
350,000,000
375,000,000
400,000,000
FY07 FY08 FY09 FY10 FY11
Average number of outstanding shares during term
EPS
Supplementary
(billion yen)
(shares)
(Yen)
※excluding treasury stock
12.1
▲▲▲▲ 25.8
3.5 5.17.6
¥11.01¥15.90
▲▲▲▲¥77.32
¥23.76¥35.14
▲ 27
▲ 18
▲ 9
0
9
18
27
FY07 FY08 FY09 FY10 FY11
▲ 90
▲ 60
▲ 30
0
30
60
90
Net income
EPS(right axis)
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12.15.13.5
▲▲▲▲ 25.8
7.6
4.9%
▲▲▲▲12.3%
2.0% 2.8%4.2%
▲ 26
▲ 13
0
13
26
FY07 FY08 FY09 FY10 FY11
▲16%
▲8%
0%
8%
16%
Net income
ROE (right axis)
247.3
210.6
180.8 182.7 185.2
150
175
200
225
250
FY07 FY08 FY09 FY10 FY11
Net assets
ROE
Supplementary
(billion yen)
(billion yen) ※average of the beginning and end of the term
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▲▲▲▲ 25.8
5.17.6
3.3 2.2 2.2 2.5
20.0
3.5
▲ 26
▲ 13
0
13
26
FY09 FY10 FY10
Purchases for treasury stock
Total dividends paid
Net income
(billion yen)
Dividends
per share
(Full Year)
Ratio of Return to Shareholders
30%
FY08 FY09 FY10 FY11
¥10.00 ¥7.00 ¥7.00 ¥8.00 ¥8.00E
Supplementary
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Group Employees (consolidated)
8,737 8,779 9,021 8,916 8,753
16,34814,946 15,473 15,317
14,223
0
5,000
10,000
15,000
20,000
25,000
30,000
2011/12 2012/3 2012/6 2012/9 2012/12
Overseas
Japan
(person)
25,085 22,97623,725 24,494 24,233
Supplementary