financial results fy2016 & business plan fy2017 · fy2015 fy2016fy2015 fy2016fy2016 fy2016...
TRANSCRIPT
Financial Results FY2016
& Business Plan FY2017
Nov. 30th 2016
Hosokawa Micron Group
http://www.hosokawamicron.com
(at the Securities Analysts Association of Japan)
(million yen)(million yen)(million yen)(million yen)
actualactualactualactual per salesper salesper salesper sales actualactualactualactual per salesper salesper salesper sales planplanplanplan% of% of% of% of
pre. yearpre. yearpre. yearpre. year
BookingBookingBookingBooking 50,204 46,959 93.5%
BacklogBacklogBacklogBacklog 17,539 17,459 99.5%
SalesSalesSalesSales 47,342 44,664 45,500 94.3%
Ope. ProfitOpe. ProfitOpe. ProfitOpe. Profit 2,450 5.2% 3,657 8.2% 3,100 149.3%
PTIPTIPTIPTI 2,646 5.6% 3,718 8.3% 3,100 140.5%
Net IncomeNet IncomeNet IncomeNet Income 2,524 5.3% 2,530 5.7% 2,100 100.2%
【exchange rate】【exchange rate】【exchange rate】【exchange rate】US$US$US$US$ 119.30 111.89 120.00
EUROEUROEUROEURO 136.84 124.11 135.00
FY2016FY2016FY2016FY2016FY2015FY2015FY2015FY2015
Financial Results (consolidated)Financial Results (consolidated)Financial Results (consolidated)Financial Results (consolidated)
FY2015 (consolidated) FY2015 (consolidated) FY2015 (consolidated) FY2015 (consolidated)
1
157 179 215 223 211
212
204 228
234 262 262 234
36.7%35.9%
34.8%34.1% 34.4%
35.70%
29.1%
26.3% 27.3% 27.1% 29.3%
27.47%
7.6%9.6%
7.5% 6.9%
5.2%
8.2% 8.3%
0
100
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700
800
0%
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10%
15%
20%
25%
30%
35%
40%
FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017
((((Forecast))))
Sales (( ((
million yen)) ))
GP
GP
GP
GPR, SGA Ratio, Ope.Profit Ratio(( ((%
)) ))
Sales(1stH) Sales(2ndH) GPR SGA Ratio Ope. Profit Ratio
361406
449 485 473446 450
Financial ResultsFinancial ResultsFinancial ResultsFinancial Results (consolidated)(consolidated)(consolidated)(consolidated)
2
US$ 81.15 78.87 92.82 102.33 119.30 111.89 100.00
Euro 113.09 102.39 121.82 138.82 136.84 124.11 115.00
(10)
(5)
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FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016
Ope.Profit(
100million yen)
Booking, Sales, Backlog(100million yen)
Backlog Booking Sales Ope.Profit
Lehman Shock
※※※※exclude the impact of exchange rate fluctuations
Financial Results (consolidated) Financial Results (consolidated) Financial Results (consolidated) Financial Results (consolidated)
3
US$ 116.26 118.99 107.67 95.22 89.58 81.15 78.87 92.82 102.33 119.30 111.89
Euro 143.01 158.25 161.71 128.71 121.50 113.09 102.39 121.82 138.82 136.84 124.11
【Sales】【Sales】【Sales】【Sales】 (million yen)(million yen)(million yen)(million yen)
FY2015FY2015FY2015FY2015
actualactualactualactual actualactualactualactual% of% of% of% of
Pre.YearPre.YearPre.YearPre.Year
PowderPowderPowderPowder 33,47833,47833,47833,478 33,25133,25133,25133,251 99.3%99.3%99.3%99.3%Blown FilmBlown FilmBlown FilmBlown Film 11,50311,50311,50311,503 11,41311,41311,41311,413 99.2%99.2%99.2%99.2%
ConfectionaryConfectionaryConfectionaryConfectionary 2,3592,3592,3592,359 ----TotalTotalTotalTotal 47,34247,34247,34247,342 44,66444,66444,66444,664 94.3%94.3%94.3%94.3%
US$Euro
119.30136.84
111.89124.11
【Ope.Profit】【Ope.Profit】【Ope.Profit】【Ope.Profit】 (million yen)(million yen)(million yen)(million yen)
FY2015FY2015FY2015FY2015
actualactualactualactual actualactualactualactual% of% of% of% of
Pre.YearPre.YearPre.YearPre.Year
PowderPowderPowderPowder 2,3122,3122,3122,312 3,0183,0183,0183,018 130.5%130.5%130.5%130.5%Blown FilmBlown FilmBlown FilmBlown Film 1,5411,5411,5411,541 1,6921,6921,6921,692 109.8%109.8%109.8%109.8%
ConfectionaryConfectionaryConfectionaryConfectionary ▲ 341▲ 341▲ 341▲ 341 ---- ----adjustmentadjustmentadjustmentadjustment ※※※※ ▲ 1,062▲ 1,062▲ 1,062▲ 1,062 ▲ 1,052▲ 1,052▲ 1,052▲ 1,052 ----
TotalTotalTotalTotal 2,4502,4502,4502,450 3,6583,6583,6583,658 149.3%149.3%149.3%149.3%US$Euro
119.30136.84
111.89124.11
FY2016FY2016FY2016FY2016
FY2016FY2016FY2016FY2016
※General management expenses without belonging to each segments
Financial Results (by business segments, consolidated)Financial Results (by business segments, consolidated)Financial Results (by business segments, consolidated)Financial Results (by business segments, consolidated)
4
0
50
100
150
200
250
300
350
400
Booking Sales Booking Sales Booking Sales
FY2014 FY2015 FY2016
Bookin
g, S
ale
s, B
acklo
g
(100 m
illion yen)
1stH 2ndH Backlog
Booking, Sales, BacklogBooking, Sales, BacklogBooking, Sales, BacklogBooking, Sales, Backlog
Powder Sales Ratio::::74.4%%%%
-1%
1%
3%
5%
7%
9%
11%
13%
15%
0
10
20
30
40
50
FY2014 FY2015 FY2016
Ope.P
rofit R
atio
(%
)
Ope.P
rofit(100 m
illion yen)
2ndH Ope.Profit1stH Ope.ProfitOpe.Profit Ratio
Ope.Profit, Ope.Profit RatioOpe.Profit, Ope.Profit RatioOpe.Profit, Ope.Profit RatioOpe.Profit, Ope.Profit Ratio
<Powder Processing>
5
Financial Results (consolidated) Financial Results (consolidated) Financial Results (consolidated) Financial Results (consolidated)
Blown Film Sales Ratio::::25.6%%%%
0
20
40
60
80
100
120
140
Booking Sales Booking Sales Booking Sales
FY2014 FY2015 FY2016
Bookin
g, Sale
s, B
acklo
g(100 m
illion y
en)
1stH 2ndH Backlog
Booking, Sales, BacklogBooking, Sales, BacklogBooking, Sales, BacklogBooking, Sales, Backlog
0%
2%
4%
6%
8%
10%
12%
14%
16%
0
2
4
6
8
10
12
14
16
FY2014 FY2015 FY2016
Ope
.Pro
fit R
atio
(%
)
Ope
.Pro
fit(100 m
illio
n y
en)
2ndH Ope.Profit1stH Ope.ProfitOpe.Profit Ratio
Ope.Profit, Ope.Profit RatioOpe.Profit, Ope.Profit RatioOpe.Profit, Ope.Profit RatioOpe.Profit, Ope.Profit Ratio
<Blown Film>
6
Financial Results (consolidated) Financial Results (consolidated) Financial Results (consolidated) Financial Results (consolidated)
Blown Film Business jumped upBlown Film Business jumped upBlown Film Business jumped upBlown Film Business jumped up
7
136136136136125125125125
66666666
86868686
123123123123115115115115 113113113113 106106106106
123123123123 119119119119
23232323
18181818
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14141414
1919191923232323 26262626 38383838
52525252 56565656
14141414
12121212
4444
2222
66666666 5555 9999
0000
50505050
100100100100
150150150150
200200200200
FYFYFYFY
2007200720072007
FYFYFYFY
2008200820082008
FYFYFYFY
2009200920092009
FYFYFYFY
2010201020102010
FYFYFYFY
2011201120112011
FYFYFYFY
2012201220122012
FYFYFYFY
2013201320132013
FYFYFYFY
2014201420142014
FYFYFYFY
2015201520152015
FYFYFYFY
2016201620162016
Backlog
Confectionery
Blown Film
Powder Processing
((((100 million yen100 million yen100 million yen100 million yen))))
381381381381 382382382382
244244244244272272272272
337337337337 323323323323 331331331331 342342342342 352352352352 342342342342
78787878 66666666
42424242
50505050
54545454 66666666 7171717199999999
125125125125 127127127127
36363636 39393939
12121212
18181818
21212121 22222222 1919191940404040
24242424
0000
100100100100
200200200200
300300300300
400400400400
500500500500
600600600600
FYFYFYFY
2007200720072007
FYFYFYFY
2008200820082008
FYFYFYFY
2009200920092009
FYFYFYFY
2010201020102010
FYFYFYFY
2011201120112011
FYFYFYFY
2012201220122012
FYFYFYFY
2013201320132013
FYFYFYFY
2014201420142014
FYFYFYFY
2015201520152015
FYFYFYFY
2016201620162016
Booking
Confectionery
Blown Film
Powder Processing
((((100 million yen100 million yen100 million yen100 million yen))))
FFFFinancial Resultsinancial Resultsinancial Resultsinancial Results((((by business segmentby business segmentby business segmentby business segment))))
8
Sales (Destination base, consolidatedSales (Destination base, consolidatedSales (Destination base, consolidatedSales (Destination base, consolidated))))
9
(million yen)(million yen)(million yen)(million yen)
FY2015FY2015FY2015FY2015 FY2016FY2016FY2016FY2016% on% on% on% on
Pre.YearPre.YearPre.YearPre.Year
JapanJapanJapanJapan SalesSalesSalesSales 10,756 11,646 108.3%%%%% 22.7% 26.1%
AmericaAmericaAmericaAmerica SalesSalesSalesSales 10,498 10,287 98.0%%%%% 22.2% 23.0%
EuropeEuropeEuropeEurope SalesSalesSalesSales 17,771 14,700 82.7%%%%% 37.5% 32.9%
Asia&Asia&Asia&Asia& SalesSalesSalesSales 8,316 8,029 96.5%OthersOthersOthersOthers %%%% 17.6% 18.0%
TotalTotalTotalTotal SalesSalesSalesSales 47,342 44,664 94.3%
America :Blown film business situation kept good.
Europe : Revenue to Spain and Russia decreased.
Asian and another : Revenue to China and Korea recovered.
(Secondary Battery and Magnetic material market are booming )
FY2015FY2015FY2015FY2015
FY2014FY2014FY2014FY2014
FY2016FY2016FY2016FY2016
Bookings by Market Segments Bookings by Market Segments Bookings by Market Segments Bookings by Market Segments ((((consolidatedconsolidatedconsolidatedconsolidated))))
10
845 845 845 845
783 783 783 783 730 730 730 730 834 834 834 834
916 916 916 916 893 893 893 893 739 739 739 739 835 835 835 835
1,284 1,284 1,284 1,284 1,303 1,303 1,303 1,303
2,441 2,441 2,441 2,441
1,757 1,757 1,757 1,757 1,741 1,741 1,741 1,741
670 670 670 670
1,120 1,120 1,120 1,120
935 935 935 935 881 881 881 881 995 995 995 995
1,147 1,147 1,147 1,147 1,175 1,175 1,175 1,175
983 983 983 983
0
500
1000
1500
2000
2500
3000
FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016
(million yen)
R & D Cost
Capital Investment
Depreciation Cost
11
R&D, Capital Investment and Depreciation (consolidated)R&D, Capital Investment and Depreciation (consolidated)R&D, Capital Investment and Depreciation (consolidated)R&D, Capital Investment and Depreciation (consolidated)
(million yen)(million yen)(million yen)(million yen)
FY2015FY2015FY2015FY2015
actualactualactualactual actualactualactualactual% of
pre. Year
BacklogBacklogBacklogBacklog 3,523 4,364
BookingBookingBookingBooking 12,119 12,292 101.4%
SalesSalesSalesSales 11,278 12,511 110.9%
Gross MarginGross MarginGross MarginGross Margin 4,667 5,321 114.0%
(%)(%)(%)(%) 41.4% 42.5%
Ope. ProfitOpe. ProfitOpe. ProfitOpe. Profit 597 1,268 212.4%
(%)(%)(%)(%) 5.3% 10.1%
FY2016FY2016FY2016FY2016
Financial Results (nonFinancial Results (nonFinancial Results (nonFinancial Results (non----consolidated)consolidated)consolidated)consolidated)
12
44 58 63
65
58
56 65
63
75 92
52 73 57
60
38.3%
41.5%
38.9% 39.2%41.2% 41.4%
42.5%
36.2% 31.9%
28.2%
36.4%
31.9%
36.1%
32.4%
2.1%
9.6%10.7%
2.8%
9.3%
5.3%
10.1%
0
50
100
150
200
0%
10%
20%
30%
40%
FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016
Sales (million yen)
GP
R、
GP
R、
GP
R、
GP
R、
SG
A R
atio
SG
A R
atio
SG
A R
atio
SG
A R
atio 、、 、、
Ope
. Pro
fit ra
tio
Ope
. Pro
fit ra
tio
Ope
. Pro
fit ra
tio
Ope
. Pro
fit ra
tio(( ((%
)) ))
Sales(1stH) Sales(2ndH plan) GPR SGA Ratio Ope. Profit Ratio
133
155
107117
132113
125
Financial Results (nonFinancial Results (nonFinancial Results (nonFinancial Results (non----consolidated)consolidated)consolidated)consolidated)
13
11.0%11.0%11.0%11.0%9.7%9.7%9.7%9.7%
8.5%8.5%8.5%8.5% 8.6%8.6%8.6%8.6% 8.6%8.6%8.6%8.6%
0%
2%
4%
6%
8%
10%
12%
14%
16%
FY2012 FY2013 FY2014 FY2015 FY2016
ROE (Return on Equity, consolidated)ROE (Return on Equity, consolidated)ROE (Return on Equity, consolidated)ROE (Return on Equity, consolidated)
)))) (連結)(連結)(連結)(連結)
14
(100 million yen)(100 million yen)(100 million yen)(100 million yen)
FY2015FY2015FY2015FY2015 FY2016FY2016FY2016FY2016 FY2016FY2016FY2016FY2016 FY2017FY2017FY2017FY2017
ActualActualActualActual PlanPlanPlanPlan ActualActualActualActual PlanPlanPlanPlan
Sales 473 485 447 450Ope. Profit 25 30 37 38
(% per sales)(% per sales)(% per sales)(% per sales) 5.2% 6.2% 8.2% 8.3%Ext. Income 26 30 37 38
(% per sales)(% per sales)(% per sales)(% per sales) 5.6% 6.2% 8.3% 8.3%Net Income 25 20 25 26
(% per sales)(% per sales)(% per sales)(% per sales) 5.3% 4.1% 5.7% 5.7%【為替レート】【為替レート】【為替レート】【為替レート】
US$US$US$US$ 119.30119.30119.30119.30 120.00120.00120.00120.00 111.89111.89111.89111.89 100.00100.00100.00100.00
EUROEUROEUROEURO 136.84136.84136.84136.84 135.00135.00135.00135.00 124.11124.11124.11124.11 115.00115.00115.00115.00
15
Business Plan FY2017 (consolidated)Business Plan FY2017 (consolidated)Business Plan FY2017 (consolidated)Business Plan FY2017 (consolidated)
< Group vision >< Group vision >< Group vision >< Group vision >
Growth at developing countriesGrowth at developing countriesGrowth at developing countriesGrowth at developing countries
Further improvement of the profitability.Further improvement of the profitability.Further improvement of the profitability.Further improvement of the profitability.
Strategies for FY2017Strategies for FY2017Strategies for FY2017Strategies for FY2017
16
◆ Development of new product and technologies to create
competitive advantages and high profitability
◆ Expansion of our global reach to emerging markets
◆ Marketing group products which meet the needs of booming market
◆ Enhancement of mutual understanding and personnel
exchanges in the group
◆ Implementation of strategic plans to expand business and
continuous improvement of profitability
◆New products & technologies development
Competitive advantage
Profitability improvement
17
Recent New products
★ NOB-VC (Dry particle composing for mass production)★ ACM-BC (Fine grinding for the cathode material)★ Hair growth tonic and Skin care products
Booming market= LIB cathode material, Magnetic material
Focus measures for FY2017Focus measures for FY2017Focus measures for FY2017Focus measures for FY2017
11.3%11.3%11.3%11.3% 12.1%12.1%12.1%12.1%
19.2%19.2%19.2%19.2%
14.8%14.8%14.8%14.8%16.7%16.7%16.7%16.7%
17.9%17.9%17.9%17.9%18.4%18.4%18.4%18.4%
14.4%14.4%14.4%14.4%16.2%16.2%16.2%16.2%
19.3%19.3%19.3%19.3%
0
5
10
15
20
25
30
0%
5%
10%
15%
20%
25%
FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017
(Plan)
Amount
Ratio
◆Hot market => Magnetic material, Lithium-ion secondary battery
=> to China
◆New Products for secondary battery
【Export ratio of the domestic business】(million)
18
Focus measures for FY2017Focus measures for FY2017Focus measures for FY2017Focus measures for FY2017
2.5%2.5%2.5%2.5% 2.8%2.8%2.8%2.8% 2.9%2.9%2.9%2.9%
4.9%4.9%4.9%4.9%
6.0%6.0%6.0%6.0%6666....6666%%%%
7.8%7.8%7.8%7.8%8.8.8.8.2222%%%%
9.09.09.09.0%%%%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017
(Plan)
Ratio
Focus on Asia market from FY2012 ⇒ Results are increased steadily
【The export ratio from Japan at the After sales business】
◆Developing country (China, South-eastern Asia, etc.)
⇒ Expansion of After Sales business
ToJapanese-affiliated companies
+Local companies
19
Focus measures for FY2017Focus measures for FY2017Focus measures for FY2017Focus measures for FY2017
◆Concentrate to the activity markets
⇒ Sharing of the Asian market information
and Sales strategies
◎Keystone of the growth and profitability
・Secondary Battery materials and Magnetic materials
⇒ focus in China
New products = Specialized equipment for LIB, Neodymium magnet
・Pharmaceutical
(Booking) FY2016:9 millions Yen⇒ FY2017:13 millions Yen
20
Focus measures for FY2017Focus measures for FY2017Focus measures for FY2017Focus measures for FY2017
2.02.02.02.0 2.02.02.02.0 2.52.52.52.54.04.04.04.0
6.06.06.06.07.57.57.57.5 7.57.57.57.5 7.57.57.57.53.03.03.03.0 3.03.03.03.0 4.54.54.54.5
5.05.05.05.0
6.06.06.06.0
7.57.57.57.57.57.57.57.5 10101010
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016
Pay
out R
atio
Div
idend
year-end
interim
payout ratio
5555yenyenyenyen5555yenyenyenyen
7777yenyenyenyen
12121212yenyenyenyen
(yen)
9999yenyenyenyen
11115yen5yen5yen5yen 11115yen5yen5yen5yen
17.5yen17.5yen17.5yen17.5yen
Dividend in FY2016::::17.5yen/share((((Payout Ratio::::28.9%)%)%)%)
Dividend & Payout RatioDividend & Payout RatioDividend & Payout RatioDividend & Payout Ratio
21
Dividend forecast in FY2017::::15.0yen/share ((((Payout Ratio::::24.6%)%)%)%)
22
Influence of the world economic topicsInfluence of the world economic topicsInfluence of the world economic topicsInfluence of the world economic topics
< American presidential election (November 8, 2016) >● America first
Using priority for American products⇒ Anxiety of an exclusive trade policy
※ Our equipment for the powder processing dedicated.
⇒ Without relevant equipment
●Domestic-demand expansion policies
⇒ Expansion for the infrastructure investment
⇒ Domestic-demand expansion ⇒ increase of consumption
⇒ Increase a intention for the capital investment
※ Positive factor for our Blown film business in America.
●Lifting of the economic sanctions to Russia (?)
⇒ Economic recovery in Russia ⇒ Recover the business chance in Russia
Our business prospect ⇒⇒⇒⇒ No important impacts
< Brexit (June, 2016) >
There is no big influence.
Business situation of British subsidiary is keeping good stably.