Presentation of Financial Results for FY2012 and Prospects ... · 6807 Japan Aviation Electronics...

1Copyright ©2013，Japan Aviation Electronics Industry，Ltd.

6807 Japan Aviation Electronics Industry, LimitedPresident Yasutaka Akiyama

Presentation of Financial Results for FY2012 Presentation of Financial Results for FY2012 and Prospects for FY2013and Prospects for FY2013

May 9, 2013May 9, 2013

2

Ａｇｅｎｄａ

Copyright ©2013，Japan Aviation Electronics Industry，Ltd.

Ⅰ．Financial Results for FY2012Ⅱ．Prospects for FY2013

57.765.2

86

63.455.6

77.4

32.334.3

50.6

0.0

20.0

40.0

60.0

80.0

100.0

121110

1,000

1,100

1,200

1,300

385.73 79.08

1,296

1,106

Published sales targets almost achieved

（106％）

（115％）1,124

（102％）

82.91Copyright ©2013，Japan Aviation Electronics Industry，Ltd.

Sales Operating Income

Ordinary Income

Net Income

1,300 90 80 50

Target

1. Overview of Financial Results for FY2012(consolidated)

Unit: ¥100 million

Sales（% of Previous

Year)

Unit: ¥100 million

Average Exchange Rate

（JPY/USD）

FY

Operating Income

Ordinary IncomeNet Income

Unit: ¥100 million

121 101 89

269 293 376

140 9062

172 220

432124 146

108

0

500

1,000

10 11 12

8541,098

4

878

120

50

Smartphone, automobile boost-up sales

196％

88％

128％

74％

69％

83.791.8（10.7％）

108.2（9.9％）

（9.5％）

125％


2（1）. Connectors SalesUnit: ¥100 million

Unit: ¥100 million

Sales

FY

Operating Income

% of Previous Year

Industrial

Automotive

Digital Home Appliances

Information

Communications

Others

65 52

3

2724

20

35

27

27

0

50

100

150

10 11 12

103127

50 49％

100％

83％

5

△2.20.8△6

0

△10

Downturn in digital camera, industrial equipment Markets


2（2）. UIS Sales

Operating Income

Unit: ¥100 million

FY

Unit: ¥100 million

Sales

% of Previous Year

Input Devices

Component Mounting

Interface Devices

63 76 69

5258 69

0

50

100

150

10 11 12

134115

138 103％

119％

91％

6

19.2（13.9％）

20.2（15.1％）

14（12.2％）

30

15

0

Sound sales growth in defense and space, Weak sales in industrial equipment


2（3）. Aerospace Sales

Operating Income

(%)

Unit: ¥100 million

Unit: ¥100 million

Sales

FY

% of Previous Year

Defense &Space

Industrial Equipment

581

525 602

522 506

790

0

500

1,000

1,500

10 11 12

1,2961,106 1,124

131％

97％

7

115％

61％

50

70（％）

47.5％53.6％

Significant increase in Connectors for overseas smartphone, automobile


Overseas Ratio

FY

Unit: ¥100 million

Sales

Overseas

Japan

% of Previous Year

2（4）. Changes in Sales by District/Overseas Ratio

86107

106 251815

31

210107135

8

266

10 11 12

116103144

０

１００

２００

１００

３００

２００


2（5）. Capital Investments & Depreciation

FY

Capital Investments

Depreciation

Unit: ¥100 million

Die/Assembly Machinery

General Machinery

Land & Buildings

JAE’s Strategy

Economic Environment ： - Relapse of European financial problems slow down economic

recovery in both developed and developing countries - Japan suffers from strong yen, deflation, falling stock prices until Q3

- After Q4 monetary easing measures, high expectations for Abe government actions lead to weaker yen

Electronics Related Market ： Continuous stable performance of smartphone, tablet PC, automobile

Severe outlook on a full business year basis

9

【Domestic】

Production of state-of-the-art products through automation, in-house, labor-saving manufacturing methods

【Overseas】

- Increasing production of harness in Mexico and Philipines, in response to customer needs,

- Positive investment (in new machinery facilities in Hirosaki, Yamagata, Philipines) for further growth

Positive approach to markets and industrial devices where demand is expanding


3. Overview of Financial Results for FY2012

Market Environment

75

80

85

90


300

800

1H 2H 1H 2H 1H 2H

10 11 12

88.9

82.48

79.7578.39

79.4

86.57

Sales

Changes in the Average Exchange Rate

Manufacturing technology overcomes strong yen and extends sales

3. Overview of Financial Results for FY2012Average

Exchange Rate （JPY/USD）

FY

Unit: ¥100 million

Changes in Sales

75

80

85

90


300

800

1H 2H 1H 2H 1H 2H

10 11 12

88.9

82.48

79.7578.39

79.4

86.57

Changes in Sales

Introduction of new technology accelerates sales growth

3. Overview of Financial Results for FY2012

Unit: ¥100 million

Sales

Changes in the Average Exchange Rate

Average Exchange Rate

（JPY/USD）

FY

4．ＴＯＰＩＣＳ


13

Meiyu Giken Inc. becomes subsidiary

Promoting shorter lead-time and cost reduction for manufacturing

Facility design, manufacturing know-how


Manufacturing technology innovation centered on automation, in-house manufacturing

Meiyu Giken JAE

＋

4. Manufacturing Innovation for Further Growth

http://www.jbs.jae.co.jp/


Product development, Production technology

Manufacturing facilities Die making

Automatic machinery production

Continuation of domestic production through automation, in-house, labor-saving manufacturing

Timely introduction of new technology and manufacturing methods

Automatic machinery production

4. Manufacturing Innovation for Further Growth

Yamagata

Meiyu Giken

Hirosaki

JAE

Fuji


Ⅱ． Prospects for FY2013

1. Basic Business Policies of FY2013

Achievement of ¥150 Billion sales

（Mid-Term Financial Target）

16

★Further sales increase in smartphone, automotive markets


★Strengthening marketing efforts in the field of industrial devices and taking the initiative in new markets

- Strengthening global marketing and technological development capabilities

- Manufacturing technology innovation centered on in-house manufacturing, automation


86

110

77.4

100

50.665

0

20

40

60

80

100

120

140

13e12

1,200

1,300

1,400

1,5001,500

（116％）

1,296

128％129％

128％

（115％）

2（1）. Prospects for FY2013 （consolidated）

*Estimated exchange rate during 2013: ¥90/$

Sales

Unit: ¥100 million

（% of Previous Year)

Unit: ¥100 million

FY

Operating Income

Ordinary IncomeNet Income


FY2012 FY2013ｅ

1,296

Connector 1,098

UIS 50

Aerospace 138

18

Connector 1,275（116％）

1,500

UIS 47

Aerospace 150

Others 28

Others 10

（Touch Sensor Project 20）

2（2）. Sales by Business Segment for FY2012（consolidated）

Unit: ¥100 million


FY2012

FY2013e

1,098 1,275

Communications 550

（127％）

Automotive415 (110%)

Industrial 95

Information 110

Digital Home Appliances 65

Communications 432

Automotive 376

Industrial 89 Information

108

Digital Home Appliances 62

19

Japan382

Overseas 893 （120％）

2（3）. Connector Sales by Segment for FY2012（consolidated）

Unit: ¥100 million

20

1st Half Full Year % of Previous Year

Connector 57.7 127.8 +19.6

UIS △0.5 0.0 +2.2

Aerospace 8.5 20.0 +0.8

Others △1.3 1.2 +2.7

UnallocatableCosts △19.4 △39.0 △1.3

Total 45.0 110.0 +24.0

Estimated

Market


Unit: ¥100 million

2（4）. Operating Income by Business Segment for FY2012 （consolidated）


Smartphone / Tablet PC

Micro SD CARD

SIM CARD

Expand sales in the synergy of 3 key sectors

Automotive （including EV/HV）

Take advantage of extreamely small and thin products

Connector Aerospace

I／O

Board to Board

FPC

3（1）. Key Markets and Products ①

Capacitive Touch Panel

Touch Sensor Project

Information / Communication System, Harness

Resolver / Resolver-to-digital

Converter


Board to Board

3（2）. Key Markets and Products ②

Industrial / Communications Infrastructure

Robot / NumericalControl Machine

Communications Base Station / Antenna

Compact Circular I/O Fiber Optic

Connector

Smart Grid / LED Lighting / Energy

LED Lighting / Ceiling LightQuick Charger

Storage Battery

2510 423118

28

210

107100

135

266

11 12 13e

116144

170

180

０

５０

５０

１００

１００

１５０

１５０

２００

２００


２５０

３００

23

4（1）. Capital Investments & Depreciation

Unit: ¥100 million

FY

Capital Investments

Depreciation

Die/Assembly Machinery

General Machinery

Land & Buildings

FCF

24

210

13e

Operating CF

Investment CF

△75

０

10 12

140

281

180

206

５０

５０

１００

０

１００

１００

２００

２００

156


１００

FCF

16 3023

11

138

115

4（2）. Free Cash Flow

Unit: ¥100 million

Unit: ¥100 million

FY

FY 10 11 12 13e

JAE Group

Sales 1,106 1,124 1,296 1,500

OrdinaryIncome Ratio

5.0％ 5.1％ 6.0％ 6.7％

Connectors

Sales 854 878 1,098 1,275

OperatingIncome Ratio

10.7％ 9.5％ 9.9％ 10.0％


13eTarget

1,500

8％

1,200

13％

over

5. Management Reform Phase 3, Mid-Term Financial Target

Unit: ¥100 million

over

over

over



<General Notes>The plans, strategies & results forecasts and targets for our company and our consolidated affiliates (hereinafter

JAE) noted in these materials are forecasts and targets as of May 9, 2013, and include risks and uncertainties. The targets noted in these materials are not projections, and do not reflect current projections by the management

team with regards to future results. Rather, these are targets to be attained by the management team through implementing business strategies.

Note that actual results may differ greatly from forecasts and targets, etc. based on various factors. Major factors that affect actual business results, etc. are the political and economic situations in Japan, the US, Asia and so forth that involve regions where JAE conducts business operations, demand fluctuations for JAE products (including software products) in the market, deflationary pressures caused by severe competition, the ability to continue supplying over our competitors, the ability to expand business operations in overseas markets, changes to the laws and regulations concerning business activities, and their opacity, potential legal responsibilities, exchange rates, etc, and there may be other factors beyond the ones listed here. Actual results may differ from management targets and other forecasts due to a worsening global economy and the global financial situation, stagnation in the domestic and overseas stock markets, etc. Note that descriptions concerning projections are current as of that day.

Although new risks and factors of uncertainty that occur at any anytime are evident, it is impossible to predict their occurrence or effects. In addition, details describing future predictions may not actually occur due to risk and uncertainties. Do not rely solely on these descriptions.

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