earnings presentation for 3q fy2010 · 2016-06-17 · 1 earnings presentation for 3q fy2010 feb. 9,...

1

Earnings Presentation for 3Q FY2010

Feb. 9, 2011

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.

2

1. 3Q10 Results (3 months ended Dec. 31, 2010)(9 months ended Dec. 31, 2010)

2. FY2. FY2. FY1110 Forecast0 Forecast0 Forecast

Supplementary InformationSupplementary InformationSupplementary Information

3

3Q10 (9 months ended Dec. 31, 2010) Summary

3Q09 3Q10 YoY

(billion yen) Results % to net sales Results % to net

sales Change %

Net Sales 190.9 - 215.9 － +25.0 +13.1%

Operating income

7.0 3.7% 14.8 6.9% +7.7 +109.8%

Ordinary income

7.8 4.1% 12.7 5.9% +4.8 +62.1%

Net income

3.8 2.0% 7.3 3.4% +3.5 +92.2%

¥94/USD ¥87/USD ▲¥7Exchange rate

¥133/EURO ¥114/EURO ▲¥19

Annual effect of exchange rate(1 weaker yen) +50 million yen+120 million yenEURO

+300 million yen+900 million yenUSD

Operating incomeNet sales

4

Operation Results

3Q08 3Q09 3Q10

3Q08 3Q09 3Q10

Other Products

Industrial Machinery

Electronic Products

Devices and Components

Watches and Clocks

12.2

246.3 190.9 215.9

7.0 14.8

Sales

OperatingIncome

(billion yen)

3Q10 Results (9 months)

(billion yen)

Net sales +¥25.0B

Operating income+¥7.8B

※The graph of sales and operating income of 3Q09 and 3Q10 is numerical values rearranged to a new segment.

5

3Q10 (3 months ended Dec. 31, 2010) Summary

3Q09 3Q10 YoY change

(billion yen) Results % to net sales Results % to net

sales Amount %

Net sales 71.2 - 78.0 - +6.8 +9.6%

Operating income

5.3 7.5% 6.8 8.8% +1.5 +28.4%

Ordinary income

5.6 7.9% 6.3 8.1% +0.7 +12.4%

Net income

2.7 3.8% 3.6 4.7% +0.9 +34.5%

¥90/USD ¥83/USD ▲¥7Exchange rate

¥133/EURO ¥113/EURO ▲¥20

Annual effect of exchange rate(1 weaker yen) +50 million yen+120 million yenEURO

+300 million yen+900 million yenUSD

Operating incomeNet sales

6

Quarterly Results

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10E

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10E

Other productsIndustrial machineryElectronic productsDevices and componentsWatches and clocks

61.571.2 64.9

0.15.3 2.9

72.9

5.0

68.0

6.8

78.0

1.7

(billion yen)

Net sales

Operating income


(billion yen)

7

0

30

60

90

120

3Q08 3Q09 3Q10

Watches Clocks

8.7%11.6%11.9%

0

60

120

180

240

3Q08 3Q09 3Q100%

6%

12%

18%

24%Operatingmargin

110.2 97.9 13.0 8.5106.5 12.3


Watches and ClocksSales Operating income

(billion yen) (billion yen)

3Q10 Results (Compared to3Q09）

Net sales +¥8.6B Operating income +¥3.8B


8

0

12

24

36

48

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10E

Watches Clocks

37.5 28.8 30.7 35.0 40.7 30.0

15.4%

10.3%7.9%

2.4%

6.0%

14.3%

0

2

4

6

8

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10E0%

5%

10%

15%

20%Operatingmargin

5.3 0.6 2.4 3.6 6.2 1.8


Watches and Clocks

(billion yen)

Sales Operating income

(billion yen)



・The cell Inn in the Holiday sales changes to the final product well.

・The gain of demand of the movement sales according to a worldwide market recovery.

・The profit increase according to the product mix improvement of movement.

9

0

25

50

75

100

3Q08 3Q09 3Q10

Opto devices Quartz devices Other parts

1.3%

5.0%

7.2%

0

1

2

3

4

3Q08 3Q09 3Q100%

2%

4%

6%

8%Operatingmargin

68.8 51.4 55.3 0.9 3.6 2.7

Sales Operating income



Net sales +¥3.9B Operating income ▲¥0.9B




10

6.4%

0.0%2.1%

8.5%

2.5%

6.5%

0

1

2

3

4

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10E0%

5%

10%

15%

20%Operatingmargin

0

5

10

15

20

25

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10EOpto devices Quartz devicesOther parts

18.4 17.3 18.8 18.5 17.9 17.8 1.5 0.4 1.2 1.1 0.3 0.0


Devices and ComponentsSales Operating income



Net sales ▲¥0.5B Operating income ▲¥1.2B

・Progress of unit price fall and influence of appreciation of the yen (LED and HDD glass substrate etc.)

・Increased demand of electronic viewfinder for DSC.

11

0

7

14

21

28

3Q08 3Q09 3Q10Healthcare equipment

Printers, calculators

4.0%3.1%2.4%

0

0.5

1

1.5

2

3Q08 3Q09 3Q100%

3%

6%

9%

12%Operatingmargin

16.0 14.9 15.9 0.6 0.3 0.4


Electronic ProductsSales Operating income





12

0

2.5

5

7.5

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10EHealthcare equipmentPrinters, calculators

1.0%

5.2% 3.4%

2.6%

5.0%3.8%

0

0.1

0.2

0.3

0.4

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10E0%

2%

4%

6%

8%Operatingmargin

4.9 5.5 4.4 5.8 5.7 5.8 0.1 0.2 0.0 0.3 0.1 0.2


Electronic ProductsSales Operating income



Net sales +¥0.8B Operating income ±¥0.0B

・The POS printer and the label printer change well.

・Gain of demand of large-scale Dot impact printer (for China)

・The healthcare equipment (Digital pedometer and Digital thermometer) is sluggish from the market saturation.

13

0

10

20

30

40

3Q08 3Q09 3Q10Other machineryNC automatic lathes

6.2%3.8%

▲34.8%

▲ 5

▲ 3

0

3

5

▲40%

▲20%

0%

20%

40%Operatingmargin

3Q09

28.4 11.9 26.1 1.0 ▲4.1 1.6

3Q08 3Q10


Industrial MachinerySales Operating income





14

0

3

6

9

12

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10ENC automatic lathes

▲3.3%

▲27.3%

7.5%5.7%5.5% 7.3%

▲ 2

▲ 1

0

1

2

▲30%

▲15%

0%

15%

30%Operatingmargin

3Q09 4Q09

4.9 6.4 7.4 9.6 9.0 10.7 ▲1.3 ▲0.2 0.4 0.7 0.5 0.8

1Q10 2Q10 3Q10 4Q10E


Industrial MachinerySales Operating income




・The profit increase according to an increase in sales and the effects of the reduction of fixed costs.

・It is a stagnation feeling to demand in an Asian region where the market recovery was pulled in the first half of the term.

15

0

10

20

30

3Q08 3Q09 3Q10Jewelry Pachinko-related products Other

2.4%

▲0.5%

4.9%

▲ 0.5

0.0

0.5

1.0

1.5

3Q08 3Q09 3Q10-3%

0%

3%

6%

9%Operatingmargin

22.7 14.6 11.8 0.5 0.7 ▲0.0


Other ProductsSales Operating income





16

0

2.5

5

7.5

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10EOtherPachinko-related productsJewelry

▲5.9%

5.7% 5.7%

▲5.5%▲2.8%

▲10.3%

▲ 0.6

▲ 0.3

0.0

0.3

0.6

▲20%

▲10%

0%

10%

20%Operatingmargin

5.3 3.3 3.5 3.7 4.5 3.6 0.3 ▲0.3 ▲0.2 ▲0.1 0.2 ▲0.2

4Q10E3Q102Q101Q104Q093Q09


Other ProductsSales Operating income




・Jewelry : Depression of consumer confidence of market

・3Q of the equipment for the Pachinko-related products is a sales increase. However, the peripheral capital investment trend is opaque.

17

1.1.1. 3Q10 Results 3Q10 Results 3Q10 Results (3 months ended Dec. 31, 2(3 months ended Dec. 31, 2(3 months ended Dec. 31, 2000111000)))(9 months ended Dec. 31, 2010)(9 months ended Dec. 31, 2010)(9 months ended Dec. 31, 2010)

Supplementary InformationSupplementary InformationSupplementary Information

2. FY10 Forecast

18

FY10 Forecast

FY10 FY09

(billion yen)

Forecast % to net sales Results % to net sales

Net sales 284.0 - 252.5 -Operating income 16.5 5.8% 7.2 2.9%

Ordinary income 14.0 4.9% 7.9 3.2%

Net income 7.0 2.5% 3.5 1.4%USD ¥86 ¥93

FY

EURO ¥113 ¥131

Net sales 146.1 - 132.8 -Operating income 8.5 5.8% 5.5 4.1%

Ordinary income 7.6 5.2% 5.7 4.3%

Net income 3.3 2.3% 2.4 1.8%USD ¥82 ¥90

2H

EURO ¥110 ¥130

19

FY10 Forecast

FY10 FY10

FY08 FY09 FY10 FY10

Other Products

Industrial Machinery

Electronic Products


Watches and Clocks

1.3

296.8 252.5 280.0

7.2 14.0

Sales

OperatingIncome

(billion yen)

(billion yen)

284.0

16.5

FY08 FY09 11/8E

11/8E

2/9E

2/9E

※The graph of sales and operating income of FY09 and FY10 is numerical values rearranged to a new segment.

20

2. FY10 Forecast2. FY10 Forecast2. FY10 Forecast

Supplementary Information

1.1.1. 3Q10 Results 3Q10 Results 3Q10 Results (3 months ended Dec. 31, 2(3 months ended Dec. 31, 2(3 months ended Dec. 31, 2000111000)))(9 months ended Dec. 31, 2010)(9 months ended Dec. 31, 2010)(9 months ended Dec. 31, 2010)

21

R&D

11.013.7

10.8 10.58.4 9.0

3.3%

4.1%

3.2%3.5% 3.4%

3.2%

0

4

8

12

16

20

FY05 FY06 FY07 FY08 FY09 FY10E0%

1%

2%

3%

4%

5%R&D% to net sales

Supplementary

(billion yen)

22

Capex/Depreciation

21.3

25.1

16.516.2

18.921.4

20.1

14.9 15.0

29.0

19.5

8.7

0

5

10

15

20

25

30

35

FY05 FY06 FY07 FY08 FY09 FY10E

CapexDepreciation

Supplementary

(billion yen)

23

344,486,788

320,257,278 322,120,527333,777,359

346,840,088

367,812,417

300,000,000

325,000,000

350,000,000

375,000,000

400,000,000


Average number of outstanding shares during term

EPS

18.5

7.112.1

-25.8

7.03.5

¥35.14

▲¥77.32

¥21.73¥19.43¥11.01

¥53.23

▲ 27

▲ 18

▲ 9

0

9

18

27


▲ 90

▲ 60

▲ 30

0

30

60

90

Net incomeEPS (right axis)

Supplementary

（billion yen）

（shares）

（Yen）

※excluding treasury stock

24

▲ 25.8

3.5

18.57.1

12.12.7%

4.9%

▲12.3%

2.0%

7.2%

▲ 26

▲ 13

0

13

26

FY05 FY06 FY07 FY08 FY09

▲16%

▲8%

0%

8%

16%

Net incomeROE (right axis)

258.6 264.4247.3

213.5187.8

150

200

250

300


Shareholders' equity

ROESupplementary

（billion yen）

（billion yen） ※average of the beginning and end of the term

25

64.0%

495.0%

63.6%135.1%

0%

100%

200%

300%

400%

500%


Ratio of return to shareholders

18.5

7.112.1

▲ 25.8

3.5

▲ 26

▲ 13

0

13

26

39


Ratio of Return to Shareholders

5.1 5.3 7.83.3 2.2

20.0

30.0

20.0

Total dividends paid

Purchases for treasury stock

Net income

30％

Supplementary

（billion yen）

26

8,687 8,559 8,448 8,467 8,631 8,621 8,607

10,972 11,835 11,356 11,16013,803 14,264 14,497

0

5,000

10,000

15,000

20,000

25,000

2009/6 2009/9 2009/12 2010/3 2010/6 2010/9 2010/12

Overseas

Japan

20,394 19,804 22,43419,627 22,88519,659 23,104

Supplementary

Group Employees (consolidated)（person）

earnings presentation for 3q fy2010 · 2016-06-17 · 1 earnings presentation for 3q fy2010 feb. 9,...

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