Inter Action Corporation · TSE:7725
Inter Action — H1 FY2005 Earnings Presentation
31 slides from Inter Action's earnings presentation, Jan 26, 2005
Slide 1: Results of Operations and Fiscal Year Forecast
Results of Operations and Fiscal Year Forecast First Half of the Fiscal Year Ending May 2005 January 26, 2005 INTER ACTION Corporation Copyright © 2005 INTER ACTION Corporation 1
Slide 2: Corporate Profile
Corporate Profile - Established June 25, 1992 - Locations Head office: Kanazawa-ku, Yokohama Kumamoto TSDC: Koushi-machi, Kikuchi-gun, Kumamoto - Common stock ¥ 1,101,259,450 - Shares issued 63,820 shares - Number of employees 45 (average age: 29 years old) - IPO on Mothers Market of the Tokyo Stock
Slide 3: Corporate Philosophy
Corporate Philosophy “Client First” The Client is Always First Outstanding technology Young and talented employees Copyright © 2005 INTER ACTION Corporation 3
Slide 4: Core Activities
Core Activities Fiber-optic Illuminators IP modules sensors Copyright © 2005 INTER ACTION Corporation 4
Slide 5: Optical Product Division: Front-end process illuminators
Optical Product Division Front-end process illuminators Illuminator for connection with prober Illuminator with built-in tester [IA-OPT228W] [IA-OPT190] Copyright © 2005 INTER ACTION Corporation 5
Slide 6: Optical Product Division: Back-end process illuminators
Optical Product Division Back-end process illuminators Quad-site illuminator Eight-site illuminator [OPTPATH-4P] [OPTPATH-8P] Copyright © 2005 INTER ACTION Corporation 6
Slide 7: Optical Product Division: Comprehensive skills in optical, mechanical and software technology
Optical Product Division Comprehensive skills in optical, mechanical and software technology Dedicated to putting the client first An operating framework that competitors cannot match Copyright © 2005 INTER ACTION Corporation 7
Slide 8: Image Processing Division
Image Processing Division IP module IP module linked to a 93000 tester [IA-IPM020] Copyright © 2005 INTER ACTION Corporation 8
Slide 9: Image Processing Division
Image Processing Division Sell the 93000 IP module worldwide. Accumulate technologies and knowledge required to supply clients with total solutions. Copyright © 2005 INTER ACTION Corporation 9
Slide 10: The Kumamoto TSDC
The Kumamoto TSDC Exterior view of the Kumamoto Test Solutions Development Center (TSDC) Copyright © 2005 INTER ACTION Corporation 10
Slide 11: The Kumamoto TSDC
The Kumamoto TSDC Equipped with various testing equipment The Agilent 93000 tester Copyright © 2005 INTER ACTION Corporation 11
Slide 12: The Kumamoto TSDC
The Kumamoto TSDC Equipped with testers, IP modules, illuminators and probers Develops total solutions for the testing of semiconductor imagers An efficient developments and manufacturing base Copyright © 2005 INTER ACTION Corporation 12
Slide 13: Fiber-Optic Sensor Division
Fiber-Optic Sensor Division Sensors for specific applications Standard unit Extender (optional) Rod unit Waterproof unit (option) Binary unit Copyright © 2005 INTER ACTION Corporation 13
Slide 14: Fiber-Optic Sensor Division: FiSty and FiMty
Fiber-Optic Sensor Division Introduction of FiSty A new home security system Progress with FiMty An environmental monitoring system to prevent disasters Copyright © 2005 INTER ACTION Corporation 14
Slide 15: Financial Highlights
INTER ACTION Corporation Financial Highlights (First Half of the Fiscal Year Ending May 2005) Copyright © 2005 INTER ACTION Corporation 15
Slide 16: Financial Results 1
Financial Results 1 (yen in millions) Year ending May 31, 2005 Year ended May 31, 2004 First-half Second-half Full year results forecasts forecasts Sales 2,520 683 917 1,600 Gross profit 1,407 371 461 832 SG&A expenses 541 333 358 691 Operating income 866 37 103 140 Ordinary income 802 14 94 108 Net
Slide 17: Financial Results 2
Financial Results 2 (yen in millions) Year ending May 31, 2005 Year ended May 31, 2004 First-half Second-half Full year results forecasts forecasts R&D expenditures 66 60 66 126 Capital investment 251 153 97 250 Depreciation and amortization 19 19 31 50 Copyright © 2005 INTER ACTION Corporation 17
Slide 18: Analysis of the Financial Results
Analysis of the Financial Results (yen in millions) 1H ended 1H ended Nov. 30, 2003 Nov. 30, 2004 Sales 1,398 683 Gross profit 784 371 (56.1%) (54.3%) SG&A expenses 235 333 Operating income 549 37 (39.3%) (5.5%) Ordinary income 524 14 (37.5%) (2.2%) Net income 299 6 (21.4%) (0.9%) Copyright © 2005 I
Slide 19: Quarterly Sales and Profit Margins (Two-year summary)
Quarterly Sales and Profit Margins (Two-year summary) (yen in millions) 900 Gross profit margin 70% 57.2% 59.3% 800 56.2% 57.6% 56.5% 54.9% 54.0% 60% 700 47.8% 50% 600 43.4% 41.6% 500 36.4% 40% 34.7% Operating margin 400 31.4% 30% 300 23.5% Sales 20% 200 9.9% 10% 100 343 783 779 620 442 680 300 383
Slide 20: Cash Flows
Cash Flows 1H ended Year ended 1H ended (yen in millions) Nov. 30, 2003 May 31, 2004 Nov. 30, 2004 Net income before income taxes 519 731 14 Depreciation and amortization 4 18 19 Decrease (increase) in receivable – trade 139 93 337 Others (172) (244) (401) Net cash provided by (used in) operating ac
Slide 21: Sales by Product Segment
Sales by Product Segment (yen in millions) 900 Illuminators IP modules Others 783 779 800 43 53 700 50 680 620 99 600 46 35 500 442 245 343 54 383 400 26 690 726 300 112 112 300 31 539 41 68 108 200 336 286 275 100 190 161 0 FY02/3Q 4Q FY03/1Q 2Q 3Q 4Q FY04/1Q 2Q Copyright © 2005 INTER ACTION Corpor
Slide 22: Share of Total Sales
Share of Total Sales 0% 50% 100% 2Q 42.2 28.4 29.4 FY04/1Q 63.4 22.8 13.8 4Q 49.4 36 14.6 3Q 62.3 25.4 12.3 2Q 86.9 5.7 7.4 FY03/1Q 93.2 0 6.8 4Q 88.1 6.4 5.5 FY02/3Q 83.4 9 7.6 Illuminators IP modules Others Copyright © 2005 INTER ACTION Corporation 22
Slide 23: Quarterly Orders
Quarterly Orders FY ended May 31, 2004 FY ending May 31, 2005 (yen in millions) 1Q ended 2Q ended 3Q ended 4Q ended 1Q ended 2Q ended Aug. 31, Nov. 30, Feb. 29, May 31, 2003 2003 2004 2004 Aug. 31, 2004 Nov. 30, 2004 Orders 643 671 836 433 286 457 received Illuminators 110 Illuminators 411 IP module
Slide 24: Business Objectives
INTER ACTION Corporation Business Objectives Aiming to become a source of total solutions that integrate optical technology with expertise in image processing tests Copyright © 2005 INTER ACTION Corporation 24
Slide 25: Optical Product Division: Today and Future
Optical Product Division Today Future Optical Products Halogen Large Area Built-in Illuminator Multi site test for ATE system More multi sites More downsizing LED Built-in Illuminator Low cost test for ATE system Automated solutions Remote service Camera Module LED Illuminator Single or multi site I
Slide 26: Image Processing Division: Today and Future
Image Processing Division Image Today Future Processing IP Module More multi sites Agilent 93000 SOC Tester Speeding up Lower price Automated Camera Module inspection Unit Mega-pixel capability LED illuminator Automated solutions Kumamoto + IP module Speeding up TSDC + DC tester Expanded scope of Ge
Slide 27: The Future of Image Sensor Testing
The Future of Image Sensor Testing Today Future Semiconductor Tester Wafer Semiconductor Tester 4-8 chips at once tests 8-16 chips at once Advanced SOC More advanced SOC Wafer sales Production of Camera Modules No need for semiconductor tester Package Semiconductor Tester testers 4-8 chips at once A
Slide 28: Growth in Global Production of CCD/CIS Imagers
Growth in Global Production of CCD/CIS Imagers (Unit: Million units) 800 700 600 500 400 300 200 100 0 2002 2003 2004 2005 2006 2007 2008 CCD CIS (Source: iSuppli Japan K.K.) Copyright © 2005 INTER ACTION Corporation 28
Slide 29: Manufacturers of Image Sensors
Manufacturers of Image Sensors * Companies are listed in alphabetic order CCD Manufacturers Atmel, Fujifilm Microdevices, Kodak, Matsushita, Samsung, Sanyo, Sharp, Sony CIS Manufacturers Agilent, Altasens, Canesta, Canon, Cypress(Fillfactory), ElecVision, ESS, Foveon, Fujitsu, Hynix Semiconductor, I
Slide 30: Fiber-Optic Sensor Division: Today and Future
Fiber-Optic Sensor Division Today Future Fiber Optic Sensors The FiMty environmental monitoring system to prevent disasters Detection of land movement Detection of fluid leaks Detection of cracks Monitors health of large structures The FiSty home security system More downsizing Lower price Fiber-opt
Slide 31: Precautions Concerning Forward-Looking Statements
Precautions Concerning Forward-Looking Statements These presentation materials contain information that is based on the company’s current expectations, estimates and forecasts. These forward-looking statements embody known and unknown risks and uncertainties that could cause the company’s actual fin