Consolidated Financial Result Digest FY10/11 Financial Results · Sales from PWB materials 25.3...

ZXCV

Copyright © 2011 TAIYO HOLDINGS CO.,LTD. All Rights Reserved. 0

Consolidated Financial Result DigestFY10/11 Financial Results

ZXCVMay 20, 2011

Any information incorporated in this document is not intended for suggestion of purchase or sale of equity share of the company . All the description and projection are based on the company's own analysis at the time of compilation , and their accuracy is not guaranteed . These data may be revised without prior announcement . The company will neither assume nor compensate any loss of anybody resulting from decision based on information provided here .

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Copyright © 2011 TAIYO HOLDINGS CO.,LTD. All Rights Reserved.

Classification

SR（Solder Resist）

White SR For Touch Panel

Silver Silver Paste,etcPaste,etc..

PWB Materials

For Rigid PWB

For PKGPWB

For FlexiblePWB

For B/UPWB

FPD FPD MaterialsMaterials

For PDP

New Products

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Terminology

Word Implication

“PWB Materials”(Printed Wiring Board)

Chemical Products for Printed Wiring Boards

“FPD Materials“(Flat Panel Display)

Chemical Products for Flat Panel Display Panels

“PDP Materials” (Plasma Display Panel) Chemical Products for Plasma Display Panels

"SR" Solder Resist Ink or Solder Mask

“PKG Materials”(Package)

Chemical Products for IC Package Substrates

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INDEX

1. FY10/11 Results

2. Forecast for FY11/12

3. Progress of Mid-term management plan

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1. FY10/11 Results

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FY10/11 Actuals

FY09/10 FY10/11 Diff.Change in

%Estimated

Nov.10

Sales 35,056 40,366 5,310 15.1% 39,500

Ope. Income 4,843 5,380 537 11.1% 5,500Ordinary Income 4,787 5,316 529 11.1% 5,500

Net Income 3,010 3,402 391 13.0% 3,700<Ave. Exchange Rate>

USD 93.0 85.8 △7.2 △7.8% 84.8

（JPY millions）Sales of over 4 billion yen in the first time

since FY07/08

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FY10/11 Factors for sales increase (vs. FY09/10)

2.7

3.9

4.1

35.0

40.3FY10/11 actuals

FX rate fluctuation

Changes in product mix

Sales volume increment

FY09/10 actuals

Sales（ JPY billions ）

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5.3

0.9

1.6

1.4

1.6

4.8

FY10/11 actuals

Fixed cost increment

FX rate fluctuation

Contribution init priceincrement

Contribution marginincrement due to

increase

FY09/10 actuals

Ope.Income（ JPY billions ）

FY10/11 Factors for profit increase (vs. FY09/10)

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Sales from PWB materials

25.3

19.9 21.222.9

6.8

5.15.6

5.6

1.3

0.91.1

1.2

0

5

10

15

20

25

30

35

FY07/08 FY08/09 FY09/10 FY10/11

Rigid PKG&Flexible Build-up

Sales

Sales of PWB materials for smartphones and Tablet PCs robust

Sales volume posted a Record in high volume (Consolidated, China, Korea, ASEAN）

Sales volume increased about 13% year on year and China market increased about 18% year on year.Ave. Selling price fell due to a strong yen.Showed somewhat slowdown during 2H.

299279259

336

（ JPY billions ）

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10.2

5.6 6.0

9.4

0.0

2.0

4.0

6.0

8.0

10.0

12.0

FY07/08 FY08/09 FY09/10 FY10/11

Sales

Sales volume close to the new record due to solid Plasma TV sales.

Higher average selling price in 2 H thanks to an increase in the price of silver, a key raw material.

Sales increased for China market.

Sales from FPD materials


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Results by segment for FY10/11

18.4

11.9

4.4

13.7

3.0

0.0

4.0

8.0

12.0

16.0

20.0

24.0

Japan China Taiwan Korea Others

0.9

0.5

2.8

0.2

1.0

5.5%

23.6%

11.6%

7.1% 7.8%

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

Japan China Taiwan Korea Others

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

Sales

Ope.Income & Ratio


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Impact of the 3/11 earthquake in Japan

No Damage

There was no injury to our employees and no property damage.So there was no impact on production.

Raw material procurement situation

Competitors spread rumors that Taiyo couldn’t secure vital important raw materials but in fact there was no such issue.

Rolling blackout during summer

We will be adjusting our working hours to maintain production level.

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Return to shareholder

30

60

90 90 9025

55

25

3.9%

8.1%

6.5%6.8%

8.6%

0

20

40

60

80

100

120

140

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

Ordinary Special DOE

（¥/Share）

55

115

9090

115

Commemorative dividend for 10th anniversary of listing

Projection

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2. Forecast for FY11/12

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• Electronics market will grow in China and emerging market.

• Concern of the impact of the earthquake during 2H.– Rolling power shortage.– Disruption in the global supply chain due to

shortage of semiconductor materials .– Recovery status of the affected companies.

• Our customers accelerating searching for second source suppliers.

• In China market, price competition continue to be fierce.

Business environment

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Forecast for FY11/12

FY10/11FY11/12

ForecastDiff.

Change in%

Sales 40,366 44,500 4,634 10.2%

PWB+ 30,909 33,000 2,091 6.8%

FPD 9,455 11,500 2,545 21.6%

Ope.Income 5,380 5,600 420 4.1%

Ordinary Income 5,316 5,600 484 5.3%

Net Income 3,402 3,800 598 11.7%

＜Foreign Exchange Rate＞

USD 85.8 80.0 △5.8 △6.8%

Considered partly uncertain factors from the earthquake effect. (JPY millions ))

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FY11/12 Forecast factors for sales increase

2

2

5.1

40.3

45FY11/12 forecast

FX rate fluctuation

Changes in product mix

Sales volume increment

FY10/11 actuals

Sales （ JPY billions ）

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5.6

0.4

1.5

0.2

2.0

5.3

FY11/12 forecast

Contribution unit pricedecrease

FX rate fluctuation

Fixed cost decrease

Contribution marginincrease due to sales

volume increase

FY10/11 actuals

Ope.Income （ JPY billions ）

FY11/12 Forecast factors for profit increase

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Investment & depreciation expense

0

500

1,000

1,500

2,000

2,500

3,000

FY07/08 FY08/09 FY09/10 FY10/11 FY11/12

Investment Depreciation（Projection）

¥1.6 billion investment for Taiyo Zhongshan

（JPY millions）

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3. Progress of Mid-term management plan

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Strategy for Chinese Market

zhongshan

To develop “Low price + α” products

To develop “Low price + α” products to increase market share in China.

“Low price +α” products under development in cooperation with Taiyo ink (Japan) and Taiyo Suzhou.

Setting up a new factory and sales office

Began sales of Taiyo Shenzhen in Jan 2011.

Opening a China strategy office in Apr 2011.

Taiyo Zhongshan under construction to be operated in Oct 2012.

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New product development strategyNew product development strategy

New products sales

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

FY09/10 FY10/11 FY11/12 FY12/13

About ¥2.0 billion in FY10/11

Sales target ¥4.0 billion in FY12/13 Black SRBlack SR

Carbon pasteCarbon paste

Inkjet markingInkjet marking


(Forecast) (Projection)

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White Resist

New product development strategyNew product development strategy

Over ¥0.5billion in FY10/11.

Low cost products have been developing for China, Taiwan and Korea.

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Target of Mid-term management plan

41.945.3

32.635.0

40.3

44.548.0

7.9 8.8

3.34.8 5.3 5.6

7.7

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

50.0

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11 FY11/12 FY12/13

Sales Ope.Income（JPY Billion）

GBP2010

(Forecast) (Projection)

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