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transcript
(Securities Code:7537 / TSE1st Section)
Financial Results for the Fiscal Year Ended March 31, 2014
(Medium-Term Management Plan and Key Initiatives)
May 2014
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
FY3/14 Summary of Consolidated Financial Results
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
FY3/14 Summary of Consolidated Financial Results
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 3
Electronic Devices Business Increased 17.7% as a result of robust sales of Special-Use ICs for communication modules and Memory ICs for PCs and computer peripherals
Electronic Systems Business Increased 21.7% as a result of increase in Medical Equipment ,Measurement & Inspection Equipment, and inclusion of an equity method affiliate as a consolidated subsidiary
Electronic Devices Business Increased 17.7% as a result of robust sales of Special-Use ICs for communication modules and Memory ICs for PCs and computer peripherals
Electronic Systems Business Increased 21.7% as a result of increase in Medical Equipment ,Measurement & Inspection Equipment, and inclusion of an equity method affiliate as a consolidated subsidiary
Net sales increased by ¥40,244 million (+18.3% YoY)
Increase in equity in net income of affiliates (+116million)
Decrease in foreign exchange losses (-276million)
Increased profits for five years
Increase in equity in net income of affiliates (+116million)
Decrease in foreign exchange losses (-276million)
Increased profits for five years
Decrease in extraordinary loss posted during the previous term (-661million)Decrease in extraordinary loss posted during the previous term (-661million)
Operating income increased by ¥921 million (+30.8% YoY)Ordinary income increased by ¥1,444 million (+57.8% YoY)
Net income increased by ¥1,151 million (+134.3% YoY)
FY3/14 Summary of Financial Results
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 4
[Reference](\ million)
Actual CompositionRatio
ActualComposition
RatioAmount % Oct.2013
CompositionRatio
Net sales 220,200 100.0% 260,424 100.0% 40,224 18.3% 253,000 100.0%
Electronic Devices 187,247 85.0% 220,325 84.6% 33,078 17.7% 214,800 84.9%
Electronic Systems 32,953 15.0% 40,098 15.4% 7,145 21.7% 38,200 15.1%
Gross profit 17,763 8.1% 18,842 7.2% 1,079 6.1% 18,250 7.2%
SG&A expenses 14,771 6.7% 14,930 5.7% 159 1.1% 14,750 5.8%
Personal expenses 9,317 4.2% 9,437 3.6% 120 1.3% - -
Other 5,454 2.5% 5,493 2.1% 39 0.7% - -
Operating income 2,991 1.4% 3,912 1.5% 921 30.8% 3,500 1.4%
Non-operating income 640 0.3% 708 0.3% 68 10.6% - -
Non-operating expenses 1,132 0.5% 675 0.3% (457) -40.4% - -
Ordinary income 2,500 1.1% 3,944 1.5% 1,444 57.8% 3,350 1.3%
Extraordinary income 124 0.1% 12 0.0% (112) -90.3% - -
Extraordinary loss 731 0.3% 70 0.0% (661) -90.4% - -
Net income 857 0.4% 2,008 0.8% 1,151 134.3% 1,675 0.7%
No. of employees at term-end 1,235 ー 1,245 ー ー ー ー ー
FY3/13 FY3/14 YoY Changes FY3/14 Forecasts
28,943 33,5112,490 2,285
27,78335,959
13,08011,572
73,004
89,255
12,509
11,68829,202
35,725
FY3/13 FY3/14
(¥ million)
187,247
220,325
FY3/14 Electronic Devices Business Net Sales Breakdown by Product
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 5
Electronic Components Increase in LCD panels for TVs and Tablet PCs
Custom ICDecrease in ICs for consumer electronics
Special-Use ICIncrease in ICs for communication modules
Micro-ProcessorDecrease in ICs for smartphones and OA equipmentMemory ICIncrease in ICs for PCs and computer peripheralsStandard Logic ICAnalog ICIncrease in ICs for car electronics and industrial equipment
13/3⽉期 1-2Q 14/3⽉期 1-2Q
FY3/14 Electronic Devices Business Market Trend by Application
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 6
Application
Communication Equipment Increase in ICs for communication modules and smartphones
Consumer Electronics Increase in LCD panels for TVs
Computers & OA Equipment Increase in ICs for PCs , computer peripherals and Tablet PCs
Automobile Increase in ICs for car navigation systems and engine controls
Industrial Equipment & Other Decrease in ICs for industrial monitors
Market Trend
Communication
Equipment
40.3%
Consumer
Electronics
26.6%
Computer & OA
Equipment
14.1%
Automobile
9.7%
Indtrial
Equipment
9.2%
FY 3/13
¥187,247million
Communication
Equipment
39.2%
Consumer
Electronics
23.7%
Computer &
OA Equipment
20.9%
Automobile
8.8%
Indstrial
Equipmet
7.4%
FY 3/14
¥220,325million
FY3/14 Electronic Systems Business Net Sales Breakdown by Product
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 7
Space & Defense Electronics
Medical EquipmentIncrease in dialysis imaging equipment
Laser EquipmentIncrease in industrial laser and optical communication components
Scientific EquipmentDecrease in thin-film equipment for power semiconductor manufacturingMeasurement & Inspection EquipmentIncrease in semiconductor non-destructive testing equipment and inclusion of Hokushinrika as a consolidated subsidiary
4,833 4,983
9,86813,425
2,620
3412,9974,099
12,636
17,251
FY3/13 FY3/14
(¥ million)
32,953
40,098
1,079 (159)525
1 2 3 4 5FY3/13 FY3/14
2,500
3,944
FY3/14 Factors Affecting Ordinary Income
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 8
(¥ million)
Gross Profit
SG&A ExpensesNon-operating Income/Loss
Increase due to net sales increaseFY3/13: ¥17.7 billion ⇒ FY3/14: ¥18.8 billionIncrease in cost of retirement benefitsPersonnel expenses +¥120 million; General expenses +¥39 millionIncrease in equity in net income of affiliates, and decrease in foreign exchange lossesEquity in net income of affiliates +¥116 million; Foreign exchange losses -¥276 million
Increase in Gross Profit
Improvement in Non-operating Income/Loss
Increase in SG&A Expenses
(\ million) FY3/13 End FY3/14 End YoY Changes
Actual Actual Amount
Current assets 93,799 99,510 5,711
Cash and deposits 17,440 19,151 1,711
Notes and accounts receivable-trade 48,299 60,944 12,645
Inventories 25,426 16,931 (8,495)
Other 2,633 2,484 (149)
Noncurrent assets 10,943 11,124 181
Property, plant and equipment 4,302 4,277 (25)
Intangible assets 406 402 (4)
Investments and other assets 6,234 6,445 211
Total assets 104,743 110,635 5,892
Current liabilities 49,042 65,114 16,072
Notes and accounts payable-trade 33,523 39,910 6,387
Short-term loans payable and other (*1) 11,743 22,143 10,400
Other 3,775 3,061 (714)
Noncurrent liabilities 18,153 3,050 (15,103)
Long-term loans payable and other (*2) 16,037 1,013 (15,024)
Other 2,115 2,037 (78)
Total liabilities 67,195 68,165 970
Total net assets 37,547 42,469 4,922
Total liabilities and net assets 104,743 110,635 5,892
*1 Short-term loans payable + Current portion of long-term loans payable + Current portion of bonds*2 Bonds + Long-term loans payable
End FY3/14 Summary of Balance Sheets
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 9
Increase due to sales increaseDecrease due to inventoriesdecrease in memory ICs
Increase due to purchase increase in Electronic Devices Business and Medical Equipment Business
3/14 Summary of Statements of Cash Flows
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 10
Decrease in Short-team loans (4,726 million)
(\ million) FY13/3 FY3/14
Actual Actual
8,301 5,999
Income before income taxes 1,892 3,886
Decrease (increase) in notes and accountsreceivable-trade
19,256 (10,445)
Decrease (increase) in inventories(2,255) 9,089
Increase (decrease) in notes and accountspayable-trade
(9,678) 4,604
Other(912) (1,134)
(406) (162)
Free cash flow7,894 5,837
(9,261) (5,382)
(512) 1,565
17,410 18,976
Net cash provided by (used in) operatingactivities
Net cash provided by (used in)investing activities
Net cash provided by (used in)financing activitiesNet increase (decrease) incash and cash equivalentsCash and cash equivalents at end of period
Increase due to sales increase
Increase in due to purchase increase in Electronic Devices Business and Medical Equipment Business
Medium-Term VisionProgress of Business Strategies and Key Initiatives
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
Medium-Term Management Vision
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 12
Japanʼs economic environment:The economy is recovering on the back of improvement in corporate earnings and recovery in capital expenditures and consumer spending.Areas driving the domestic electronics market:Shifting from consumer electronics and communication equipment to automobile, industrial equipment, environmental equipment and medial equipment
Medium-Term Management Vision“Transforming into a robust
company that can realize sustainable growth”
Medium-Term Management Slogan“Think & Action”
Gain competitive advantage and achieve differentiation by capturing opportunities
that emerge from the structural changes
Structural Changes in the Operating Environment
Electronic Devices Business: Overview of Key Initiative ①
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 13
Expand the base business
Solution Proposals
Owing to enhanced Demand Creation functions, the Company received multiple awards, including the Best Distributor Award
Extensive range ofanalog
products
PCBs and connectors
Software
Other semi-conductors
and electronic
components
Enhance the Demand Creation (DC)
function
Aim to increase the usage of our line card
in respective projects
Strengthen follow-up actions for clientsʼrespective projects
Electronic Devices Business: Overview of Key Initiative ②
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 14
Develop businesses in growing markets
Propose a combination ofassembly and testing equipment with
semiconductors and electronic components
Car Electronics
Telecommunication
Medical Equipment
Industrial Equipment
Develop key devices and propose solutions
Propose comprehensive solutions that can respond to upstream to downstream markets
Electronic Devices Business: Overview of Key Initiative ③
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 15
Semiconductors Custom ICs
• Promote orders received for ASICs of Open-Silicon, Inc. and BaySand, Inc.
Memory ICs• Launch sales of built-in flash memories and SSDs of
SanDisk Corporation
Environmental Expand solar panel product lineups (ranging from thin-film
to crystalline solar panels) Boost sales and promotion of solar power facility for
farming “Solar Farming” Excavate new products
Assign employees to work full-time in U.S. offices
Promote development of new products
BaySand, Inc.ASIC
Solar Farming
SanDisk CorporationSSD
Electronic Devices Business: Overview of Key Initiative ④
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 16
Enhance global operations with a focus on regions where production sites for automobile-related industries are expanding
MARUBUN CORPORATION OtherMARUBUN/ARROW USA, LLC MARUBUN/ARROW ASIA, LTD
MARUBUN/ARROW(SHANGHAI) CO., LTD(Shanghai, China)
MARUBUN ARROW(THAI) CO., LTD(Bangkok, Thailand)
Marubun Semicon(Shanghai) Co., Ltd.(Shanghai, China)
MARUBUN/ARROW(HK) LTD(Hong Kong, China)
MARUBUN ARROW(M) SDN BHD(Penang, Malaysia)
MARUBUN/ARROW(S) PTE LTD(Singapore)
Dalian, China
Nanjing, China
MARUBUN/ARROW (SHENZHEN) ELECTRONIC PRODUCT CONSULTING CO.,LTD. (Shenzhen, China)
Kuala Lumpur, Malaysia
MARUBUN/ARROW ASIA, LTD.
MARUBUN/ARROW(PHILS) INC.(Manila, Philippines)
MARUBNU/ARROW USA, LLC(Headquarters: Santa Clara)
Marubun Taiwan Inc.(Taipei, Taiwan)
MARUBUN SEMICON(H.K.) LIMITED(Hong Kong, China)
MARUBUN CORPORATIONDenver
ChicagoDetroit
Atlanta
DallasSan DiegoFoothill Ranch
MARUBUN SEMICON(S) Pte.Ltd. (Singapore)
PT. MARUBUN ARROW INDONESIA (Jakarta, Indonesia)
Boost sales of broad range of our line card, mainly targeting automobile-related clients
Mexico
Prepare to establish operation bases, responding to the accelerated entry of automobile-related industries
Incorporation of the Shenzhen Office in China
Electronic Systems Business:Overview of FY3/15 Strategies and Key Initiatives
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 17
Laser and TelecommunicationEquipment
• Boost sales of industrial lasers• Boost sales of original laser fine processing equipment
Measurement & Inspection andScientific Equipment
• Boost sales of semiconductor non-destructive testing systems• Boost sales of photonic crystal process integration system
Medical Equipment • Promote local sales activities• Strengthen capabilities in technical services and expand sales channels
Scientific Equipment • Boost sales of MBE equipment as well as CVD equipment for power device manufacturing
Aerospace Electronics
• Expand client bases in aero and defense industries• Expand product line-ups of sensors and analyzers for automobiles and social
infrastructure
Improve profitability and business stability under the Companyʼs “Customer-in” philosophy
Boost sales activities by
mobilizing the entire Group
Strengthen system integration capability
Enhance engineering services
Enrich product line-up
Electronic Systems Business: Topics
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 18
Launched sales of a Photonic Crystal Process Integration SystemSignificantly improved luminous efficiency by using crystal technology
Through a joint research with ULVAC, Inc., TOKYO OHKA KOGYO CO., LTD., TOSHIBA MACHINE CO., LTD., as well as The National Institute of Advanced Industrial Science and Technology (AIST) and RIKEN, we developed and released a system which significantly improves light extraction efficiency in the LED manufacturing process.
By using nanoimprinting and dry etching technologies, a photonic crystal layer with a unique pattern is created in the sapphire substrate, which externally emits light during the last phase of LED manufacturing process.
Light extraction efficiency, which is some 30% with the traditional PSS method, can be improved to up to 80% by using the new system.
The pattern depth has been reduced to nearly one fifth, thereby reducing the time consumed in dry etching process and contributing to a significant cutback in manufacturing cost.
The pattern depth has been reduced significantly in contrast to the traditional PSS method.
Left: The traditional PSS method (photo: magnified 10,000 times)Right: Photonic Crystal method (photo: magnified 50,000 times)
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
FY3/15Summary of Consolidated Financial Forecasts
FY3/15 Summary of Financial Forecasts
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 20
Electronic Devices Business Expecting an increase in Micro-Processor for tablet PCs and a decrease in Special-Use ICs for communication modules
Electronic Systems Business Expecting a decrease in Medical Equipment
Electronic Devices Business Expecting an increase in Micro-Processor for tablet PCs and a decrease in Special-Use ICs for communication modules
Electronic Systems Business Expecting a decrease in Medical Equipment
Net sales expected ¥263 billion (+1.0% YoY)
Operating income expected ¥4.1 billion (+4.8% YoY)
Ordinary income expected ¥4.0 billion (+1.4% YoY)
Net income expected ¥2.1 billion (+4.6% YoY)
FY3/15 Financial Forecasts
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 21
(\ million)
ActualComposition
Ratio ForcastComposition
RatioAmount %
Net sales 260,424 100.0% 263,000 100.0% 2,576 1.0%
Electronic Devices 220,325 84.6% 224,000 85.2% 3,675 1.7%
Electronic Systems 40,098 15.4% 39,000 14.8% (1,098) -2.7%
Gross profit 18,842 7.2% 19,100 7.3% 258 1.4%
SG&A expenses 14,930 5.7% 15,000 5.7% 70 0.5%
Operating income 3,912 1.5% 4,100 1.6% 188 4.8%
Non-operating income 708 0.3% 600 0.2% (108) -15.3%
Non-operating expenses 675 0.3% 700 0.3% 25 3.7%
Ordinary income 3,944 1.5% 4,000 1.5% 56 1.4%
Extraordinary income 12 0.0% 0 0.0% (12) -
Extraordinary loss 70 0.0% 50 0.0% (20) -28.6%
Net income 2,008 0.8% 2,100 0.8% 92 4.6%
FY3/14 FY3/15 YoY Changes
FY3/15 Electronic Devices Business Net Sales Forecasts by Product
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 22
Electronic ComponentsIncrease in LCD panels for TV and Tablet PCs
Custom IC Increase in ICs for consumer electronics
Special-Use ICDecrease in ICs for communication modules
Micro-ProcessorIncrease in ICs for Tablet PCs
Memory ICDecrease in ICs for PC
Analog ICIncrease in ICs for car electronics and Industrial Equipment
Standard Logic IC
33,511 37,400
2,285 1,656
35,959 32,845
11,572 17,073
89,255 81,507
11,688 13,387
35,725 38,874
FY 3/14
Actual
FY 3/15
Forcasts
224,000220,325
(¥ million)
4,983 4,503
13,425 13,913
341 1,7364,099
3,548
17,251 15,300
FY 3/14
Actual
FY 3/15
Forcasts
(¥ million)
39,00040,098
FY3/15 Electronic Systems Business Net Sales Forecasts by Product
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 23
Medical EquipmentDecrease in diagnostic imageing equipments
Laser EquipmentDecrease in optical communications componentsScientific EquipmentIncrease in thin-film equipment for power semiconductor manufacturing
Measurement & Inspection Equipment
Space and Defense ElectronicsDecrease in satellite components
FY3/15 Factors Affecting Ordinary Income(Forcasts)
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 24
Increase in Gross Profit
Increase in SG&A Expenses Decrease in
Non-operating Income
(¥ million)
258
(70)(133)
1 2 3 4 5FY 14/3Actual
FY 15/3Forcasts
3,944 4,000
Gross Profit
SG&A ExpensesNon-operating Income/Loss
Increase due to net sales increaseFY3/14: ¥18.8 billion ⇒ FY3/15: ¥19.1 billionIncrease in cost of outsourcingFY3/14: ¥14.9 billion ⇒ FY3/15: ¥15.0 billionDecrease in equity in net income of affiliatesNon-operating Income -¥108 million ; Non-operating Loss +¥25 million
Return to Shareholders
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 25
Dividends Forecast
(\)FY3/14 FY3/15
Forecasts
Annual Dividend per Share 19.00 20.00
Interim Dividend 6.00 7.00
Year-End Dividend 13.00 13.00
Aim to achieve net sales of ¥280 billion and ordinary income of ¥6 billion in FY3/17 by aggressively implementing initiatives of the medium-term vision
Medium-Term Quantitative Target(FY3/15-FY3/17)
26Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
220.3224.0
228.0 235.0
40.0 39.0 42.0 45.0
3.9 4.0
5.06.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
0.0
50.0
100.0
150.0
200.0
250.0
300.0
FY3/14 FY3/15 FY3/16 FY3/17
Actual Forecasts Plan Plan
(¥ billion)(¥ billion)Electronic Devices Business (LHS) Electronic Systems Business (LHS)
Ordinary Income (RHS)
260.4 263.0270.0
280.0
Appendix
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
FY2013
Share of Sales
by Segment
Corporate Outline
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
Establishment July 1947
Capital ¥6,214 million
Activities Distribution of Cutting-edge Electronics Products
Headquarters Chuo-ku, Tokyo
Consolidated Net Sales
260,424 million yen(FY2013)
Numbers of Employees
1,245(As of March,31 2014)
Net SalesElectronic Devices 84.6%Electronic Systems 15.4%
Gross ProfitElectronic Devices 63.1%Electronic Systems 36.9%
28
History of Company Operations
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
Japan Over Seas
1844
2013Business acquisition Hokushin Rika.
1897The dry goods wholesale business discontinued; Horikoshi Office established to manage the property.
1947Established Marubun Corp. to sell machinery, instruments and daily-use sundries.
1985Established Logistics Center.
1997Listed on the 2nd Section of the Tokyo Stock Exchange.
1952Contracted with Rocke International, Inc., to serve as their representative office, and began import and sales of American machinery.
1968
19881989
1994
1999Established Marubun/Arrow USA, LLC.1998Established Marubun/Arrow Asia Limited.
2001
2005
1965Imported and sold ICs (made by TI) at first in Japan.
1961Established Marubun Tsusho Co.,Ltd.
2007Business acquisition of Foresight Techno Co.,Ltd.
2001
2002
2006
Listed on the 1st Section of the Tokyo Stock Exchange.
Established Marubun Semicon Corporationto sell SUMSUNG Semiconductors.
Established subsidiary in Singapore.
Established representative office in USA.
Established subsidiary in Taiwan.
Established subsidiary in Hong Kong.
Established subsidiary in Malaysia.
Established subsidiary in Thailand.
Established subsidiary in Shanghai and Philippines.
Dry goods wholesaler "Horikoshi" started a business, at the site of the present company headquarters, that went by the name Marubun.
2013Established subsidiary in Shenzhen, China and Indonesia.
29
Trend of 10 years
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
0
50,000
100,000
150,000
200,000
250,000
300,000
FY3/05 FY3/06 FY3/07 FY3/08 FY3/09 FY3/10 FY3/11 FY3/12 FY3/13 FY3/14
(¥ million) Net Sales Foreign Sales Ratio
30
Domestic Offices
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
Tokyo Head Office
MARUBUN TSUSHO CO., LTD.(Head Office:Kanazawa)
MARUBUN WEST CORPORATION(Head Office:Kobe)
MARUBUN SEMICON CORPORATION(Head Office:Minato-ku,Tokyo)
Minamisuna Technical Center
Minamisuna Logistics Center
East Japan Logistics Center
Omiya
Tachikawa
Matsumoto Satellite Office
Central Japan Operations(Nagoya)
West Japan Operations(Osaka)
Utsunomiya Carelectronics Office
Himeji Carelectronics Office
OsakaNagoya
KanazawaToyamaFukuiMatsumotoNagano
NanaoTamaHakusan CenterTokyoKofu
Kyushu Satellite Office(Fukuoka)
Operations
Branch
Sales Office
Logistics Center
Affiliated Company
Hamamatsu Satellite Office
Hiroshima Satellite Office
Himeji
Hokuriku
Mishima Satellite Office
FORESIGHT TECHNO CO., LTD(Head Office:Koto-ku,Tokyo)
(As Of March31,2014)
IKEDA IRYOUDENNKI CO., LTD(Head Office:Niigata)
HOKUSHIN RIKA(Head Office:Nagano)
MatsumotoKofu
31
World-wide Sales Network
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
Marubun Corporation OtherMarubun/Arrow USA, LLC Marubun/Arrow Asia, Ltd.
Marubun/Arrow (Shanghai) Co., Ltd(Shanghai)
Marubun Arrow (Thai) Co., Ltd.(Bangkok)
Marubun Semicon (Shanghai) Co., Ltd.(Shanghai)
Marubun/Arrow (HK) Ltd.(Hong Kong)
Marubun Arrow (M) Sdn Bhd(Penang)
Marubun/Arrow (S) Pte Ltd (Singapore)
Dalian,ChinaNanjing,China
Kuala Lunpur,Malaysia
Marubun/Arrow Asia, Ltd.
Marubun/Arrow (Phips) Inc.(Manila,Philippines)
Marubun/Arrow USA, LLC(Head Office:Santa Clara)
Marubun Taiwan Inc.(Taipei)
Marubun Semicon (H.K.) Ltd.(Hong Kong)
Marubun Corporation
Denver
Chicago
Detroit
AtlantaDallas
San Diego
Foothill Ranch
Marubun Semicon (S) Pte Ltd. (Singapore)
(As Of March31,2014)
Marubun/Arrow (Shenzhen) Electronic Products Consulting Co., Ltd. (Shenzhen,China)
PT. Marubun Arrow Indonesia (Jakarta, Indonesia)
32
Wide Range of Products made by Leading Semiconductor Manufacturers
Global Sales Network in alliance with Arrow Electronics, Inc.
Broad Customer base.
Characteristic and Strength -Electronic Devices-
33Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
OurFunction
Supplier
Customer
Order
Purchase
Order
Sales
Broad Product Lineup
Design Activity
Technical Support
Global Support
Marketing
Just-in-Time Logistics
Electronic Devices
Affiliations -Electronic Devices-
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
* Marubun/Arrow USA, Future Technology & Service Co., Ltd. :Affiliate company
Electronic Devices
Company Headquarters Establishment Shares Principal Business
Marubun Semicon Corporation Minato-ku, Tokyo Mar. 2005 100.0%
Marubun Semicon (Shanghai) Co., Ltd. Shanghai, China Mar. 2005 100.0%
Marubun Semicon (H.K.) Ltd. Hong Kong, China Jan. 2010 100.0%
Marubun Semicon (S) Pte. Ltd. Alexandra Road, Singapore Nov.2013 100.0%
Marubun USA Corporation California, U.S.A. Oct. 1983 100.0% Devices Business/Holding Company
Marubun Taiwan, Inc. Taipei, Taiwan Nov. 1989 100.0% Devices Business
Marubun/Arrow Asia, Ltd. British Virgin Islands Oct. 1998 50.0% Devices Business/Holding Company
Marubun/Arrow (S) Pte Ltd. Anson Road, Singapore Mar. 1988 50.0%
Marubun/Arrow (HK) Ltd. Hong Kong, China Aug. 1994 50.0%
Marubun Arrow (Thailand) Co., Ltd. Bangkok, Thailand Oct. 2000 50.0%
Marubun/Arrow (Phils), Inc. Laguna, Philippines Oct. 2001 50.0%
Marubun Arrow (M) SDN BHD Penang, Malaysia Jun. 2006 50.0%
Marubun/Arrow (Shanghai) Co., Ltd. Shanghai, China Sep. 2002 50.0%
Marubun/Arrow (Shenzhen) ElectronicProduct Consulting Co.,Ltd.
Shenzhen, China Jun. 2013 50.0%
PT. Marubun Arrow Indonesia Jakarta, Indonesia Aug. 2013 50.0%
Marubun/Arrow USA, LLC* Delaware, U.S.A. Nov. 1998 50.0%
Future Technology & Service Co., Ltd. * Toshima-ku, Tokyo Nov. 2006 29.3% Devices Business
Devices Business
Devices Business
34
Main Products (by Application) -Electronic Devices-
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 35
Electronic Devices
Com
mun
icat
ion
Equi
pmen
t
Cons
umer
Equi
pmen
t
Com
pute
r &
OA
Auto
mob
ile
Indu
stria
lEq
uipm
ent
Semiconductor Analog ● ● ● ● ●
Discrete ● ● ● ●
Standard Logic IC ● ● ● ● ●
DRAM ● ● ● ●
Flash ● ● ●
MPU,MCU ● ● ● ● ●
DSP ● ● ● ●
ASSP ● ● ●
Display Driver ● ● ●
DMD ● ● ●
LED ●
Custom IC ● ● ● ●
Erectronic Components● ● ● ●
OELD ● ●
● ● ● ●
● ●
LCD Panel
Crystal DeviceBoard Computer
Application
Analog IC
Memory IC
Micro-Processor
Special-UseIC
Communication
Equipment
39.2%
Consumer
Electronics
23.7%
Computer &
OA Equipment
20.9%
Automobile
8.8%
Indstrial
Equipmet
7.4%
FY 3/14
¥220,325million
Asah
i Kas
eiM
icro
devi
ces
ISSI
Inte
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iona
lRe
ctifi
er
Sam
sung
Seik
o Ep
son
Texa
sIn
stru
men
ts
Triq
uint
Free
scal
e
Broa
dcom
Max
im
Mol
ex
Semiconductor Analog ● ● ● ● ●
Discrete ● ●
Standard Logic IC ●
DRAM ● ●
Flash ●
MPU,MCU ● ● ●
DSP ● ● ●
ASSP ● ● ● ● ● ● ●
Display Driver ● ● ●
DMD ●
LED ●
Custom IC ● ● ● ●
Erectronic Components●
OELD ●
●
●
Supplier
Micro-Processor
Special-UseIC
LCD Panel
Crystal DeviceBoard Computer
Analog IC
Memory IC
Main Products(by Supplier) -Electronic Devices-
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 36
Electronic Devices
Providing Unrivaled Products in High-end Markets Value-added Technical Support
(System Integration, Installation and Maintenance Services)
Characteristic and Strength -Electronic Systems-
37Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
Order
Purchase
Order
Sale
Development cooperation
Technical support
Consultation
Marketing
Supplier
Customer
Operation Training
Maintenance
Repair
Calibration
Our Function
Electronic Systems
Affiliations -Electronic Systems-
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
Electronic Systems
*Ikeda iryoudenki :Affiliate company
Company Headquarters Establishment Shares Principal Business
Marubun Tsusho Co.,Ltd. Kanazawa, Ishikawa Mar. 1961 100.0% Systems Business
Hokushinrika Nagano, Nagano Nov. 1951 100.0% Systems Business
Ikeda iryoudenki Co.,Ltd. * Niigata, Niigata Aug. 1961 41.0% Systems Business
Marubun West Corporation Kobe, Hyogo May. 2005 100.0% Systems Business
Foresight Techno Co.,Ltd. Koto-ku, Tokyo Mar. 1999 51.0% Systems Business
38
Main Products -Electronic Systems-
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved. 39
Electronic Systems
Segment Main Products Major Supplier
High-reliability Components,Sensors
Tele Communication Systems、Plascore,Lavision
Avionics Test System,Microwave Equipment
AAI,CPI,L3 Communications
Measurement & InspectionEquipment
Uni-Hite System,Akim,DCG systems, HIMEC
Manufacturing EquipmentSeiko Epson,Nippon Avionics
ScientificEquipment
MOCVD System,in-situ monitoring system
AIXTRON,LayTec
Laser Oscillators & ProcessingEquipment
Laserline,nLight
Network Equipment,Optical Components
Microsemi,Calnex Solutions,EXFO,Excelitas Technologies
Diagnostic ImagingEquipment
Shimadzu,Siemens Japan,Konica Minolta Healthcare
Hemo Dialysis EquipmentNikkiso,Asahi Kasei Medical,Kaneka Medix
MedicalEquipment
Measurement & InspectionEquipment
Space andDefense
Electronics
Laser Equipmen
Space and
Defense
Electronics
12.4%
Measurement &
Inspection
Equipment
33.5%
Scientific
Equipment
0.9%
Laser Equipment
10.2%
Medical
Equipment
43.0% ElectronicSystemsFY 3/14
40,098 million
Trend in Net Sales/Gross Profit/SG&A expenses
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
49,68753,35054,877
62,285
55,796
63,57668,073
72,976
7.6% 7.9% 7.4%
9.2%
7.0% 7.1% 6.8%7.9%
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY3/13 FY3/14
Net Sales Gross Profit margin
(¥ million) 3,768 3,7183,570
3,713 3,635 3,638 3,651
4,005
7.6% 7.0% 6.5%6.0% 6.5% 5.7% 5.4% 5.5%
0.0%
10.0%
20.0%
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY3/13 FY3/14
SG&A expenses SGA ratio(¥ million)
3,718 3,713 3,6353,768
3,570
40
Trend in Orders/Sales
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
Orders Sales
44,536 44,546 48,223 49,941 50,550 54,39959,038 56,337
5,151 8,8046,654
12,3435,246
9,1779,035 16,638
49,68753,350 54,877
62,285
55,796
63,57668,073
72,976
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY3/13 FY3/14
Electronic Devices Electronic Systems
(¥ million)
43,413 46,329 45,22052,411 55,697 54,890 53,257
61,649
8,1678,881 7,886
8,18110,673 10,355 11,386
7,829
51,58155,210 53,107
60,59366,371 65,246 64,644
69,478
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY3/13 FY3/14
Electronic Devices Electronic Systems(¥ million)
41
Trend in Sales of Electronic Devices by Products
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
7,140 6,966 6,869 7,968 6,571 7,621 8,437 10,882687 635 547 621 842 589 490
3645,017 6,138 7,3749,254 8,376 8,869 8,635
10,0783,461 3,173 3,1193,328
2,729 2,680 2,8303,33216,473 18,051
20,61617,865 22,750 22,453 24,618 19,4343,749 2,568
3,151 3,0402,163 3,431
2,803 3,290
7,931 6,8936,501 7,877 6,966
8,48211,082 9,196
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY3/13 FY3/14
Electronic Components
Custom IC
Special-Use IC
Micro-Processor
Memory IC
Standard Logic IC
Analog IC
(¥ million)
44,536 44,54648,223 49,941 50,550
54,399
59,03856,337
42
Trend in Sales of Electronic Devices by Applications
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
34.8%42.0% 43.3% 40.9%
46.3%40.6% 38.4%
32.4%
31.6%27.4% 25.7%
22.4%
24.4%27.6%
17.5% 25.9%
12.1%13.8% 14.3%
16.0%
13.6% 15.5%29.6% 23.6%
9.5%9.7% 9.1%
10.4%9.0% 9.2% 7.3% 9.7%
12.0%7.0% 7.5% 10.4% 6.7% 7.1% 7.2% 8.4%
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY3/13 FY3/14
Industrial
Equipment
Automobile
Computer & OA
Consumer
Equipment
Communication
Equipment
43
Trend in Sales of Electronic Systems
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.
639 1,302 9781,912
605 1,046 1,226 2,1051,565
2,6732,087
3,543
1,835
3,192 3,310
5,087
112
640602
1,266
43
73 60
164
537
719656
1,085
681
984 805
1,628
2,299
3,470
2,330
4,538
2,082
3,881 3,635
7,653
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY3/13 FY3/14
Medical Equipment
Laser Equipment
Scientific Equipment
Measurement & Inspection
Equipment
Space and Defense
Electronics
(¥ million)
5,151
8,804
6,654
12,343
5,246
9,177 9,035
16,638
44
Cautionary Statement
45
Within the presentation, information on the future performance such as results forecasts isbased on the data available at the time this presentation was prepared that the Companyassumes reasonable. Actual performance depends on various important factors and maydiffer significantly from the estimates contained herein.
MARUBUN CORPORATIONCORPORATE PLANNING Dept.PHONE +81-3-3639-3010E-mail ir@marubun.co.jp
Contact
Copyright © 2002-2014 MARUBUN CORPORATION All Rights Reserved.