Fujikura Ltd · TSE:5803
Fujikura — 1H FY2020 Earnings Presentation
24 slides from Fujikura's earnings presentation, Nov 2, 2020
Slide 1: 1st Half FY2020 Financial Results
st. 1 Half FY2020 Financial Results November 2, 2020
Slide 2: Contents
Contents 1. Review of 1H FY2020 Financial Results and FY2020 Forecasts 2. By Segment 3. Shareholder Return 1
Slide 3: 1. Review of 1H FY2020 Financial Results and FY2020 Forecasts
1. Review of 1H FY2020 Financial Results and FY2020 Forecasts 2
Slide 4: 1H FY2020 Financial Results and FY2020 Forecasts
1H FY2020 Financial Results and FY2020 Forecasts (Unit : Yen in billion) FY2020 FY2019 FY2020 （Forecasted on Aug 3） 2H FY2020 1H 2H Full Year 1H 1H Full year Forecasts Forecasts Net Sales 343.5 328.8 672.3 300.5 299.5 600.0 290.0 － Operating Income 5.8 (2.4) 3.3 8.9 2.1 11.0 1.0 － Ratio of Operating
Slide 5: Review of 1H FY2020 Results
Review of 1H FY2020 Results 【YoY basis】 Although there was a significant decrease in profit due to production suspension of automobile manufactures because of COVID-19, both operating profit and ordinary profit increased. There are mainly 3 reasons. One is an effect of business restructure and cos
Slide 6: Review of 1H FY2020 Results: Full Year Forecast
Review of 1H FY2020 Results 【Full Year Forecast】 Net sales is expected to decrease due to a demand decrease in domestic electrical wire market in Power and Telecommunication Systems Company and due to COVID-19 in Automotive Products Business Company. But, both operating profit and ordinary profit
Slide 7: 1H FY2020 Contributing Factors to Net Sales Change
1H FY2020 Contributing Factors to Net Sales Change (year-on-year basis) Net Sales (Unit : Yen in billion) Electronics Effects of Effects of Business Copper Prices Forex +5.9 (2.2) (2.7) Power & Automotive Products Telecommunication Business Systems Business (3.4) (15.6) COVID-19 Others (24.4) (0.6)
Slide 8: 1H FY2020 Contributing Factors to Operating Income Change
1H FY2020 Contributing Factors to Operating Income Change (year-on-year basis) Operating Income (Unit : Yen in billion) Reduction of fixed costs through structural reforms +3.6 Effects of Effects of cost Product mix COVID-19 Copper reduction etc. Prices measures (2.7) (4.0) +2.3 +3.9 5.8 8.9 3.1 hig
Slide 9: 1H FY2020 Extraordinary Profit and Loss
1H FY2020 Extraordinary Profit and Loss (Unit: Yen in billion) FY2019 1H Full FY2020 1H 2H year Operating Income 5.8 (2.4) 3.3 8.9 Share of other comprehensive income of entities accounted for 0.8 0.3 1.1 0.0 using equity method Ordinary Income 5.0 (3.7) 1.3 7.4 Extraordinary profit (3.4) Extraordin
Slide 10: FY2020 Forecast: Reduction of Depreciation and Business Structure Improvement
FY2020 Forecast Reduction of depreciation due to impairment Improvement of business structure (Unit: Yen in billion) FY2020 Segment 1H 2H Full year Comment Power & 【impairment】 Telecommunication 1.5 1.5 3.0 ・Optical fiber manufacturing assets (2.2) Systems Company ・Fiber laser manufacturing assets (
Slide 11: Consolidated B/S (1)
Consolidated B/S (1) （Unit: Yen in billion） As of March As of Sep. Change 31, 2020 30, 2020 〈Assets〉 576.1 589.1 +13.0 Current Assets 299.8 322.7 +22.9 Accumulation of liquidity at hand to handle COVID-19 Cash and Deposits 44.7 66.9 +22.3 Notes and Account Increased due to seasonal factors at 128.9
Slide 12: Consolidated B/S (2)
Consolidated B/S (2) （Unit: Yen in billion） As of March As of Sep. Change 31, 2020 30, 2020 Total 576.1 589.1 +13.0 (Treasury Stock) ((10.9)) ((10.9)) (+0.0) 〈Liability〉 404.0 412.6 +8.6 Notes and Account 65.8 69.6 +3.9 Although interest-bearing debt Payable increased because of an Interest-bearing
Slide 13: 2. By Segment
F Fujikura 2. By Segment
Slide 14: Financial Results and Forecasts by Segment
Financial Results and Forecasts by Segment （Unit: Yen in billion） Net Sales Operating Income and Ratio of Operating Income to Net Sales 1H FY2019 1H FY2020 2H FY2020 1H FY2019 1H FY2020 2H FY2020 Segment Change Results Change Results Results Forecast Results Forecast Power & 4.4 8.3 +3.8 4.0 Telecom
Slide 15: Power & Telecommunication Systems Company
Power & Telecommunication Systems Company In 1H, net sales decreased on a YoY basis due to the decrease in demand in domestic electric wire market and the intensifying competition in optical fiber. But, profit increased due to fixed cost reduction through business restructure and valuation gain fo
Slide 16: Electronics Business Company
Electronics Business Company Compared to the same period last year, sales and profit increased due to special demand attributed to Stay Home for digital devices etc. In the second half, sales and profit for smartphone are projected to decrease owing to seasonality. It is conservative because the
Slide 17: Automotive Products Company
Automotive Products Company In 1H, both net sales and profit significantly decrease on a YoY basis because production of automobile manufactures was suspended due to lockdown which was carried out all around the world because of COVID-19. In the second half of the year, we will improve productiv
Slide 18: Real Estate Business Company
Real Estate Business Company Revenues from leasing real estate properties continue to contribute to consolidated operating income. （Unit: Yen in billion） Net sales and Ratio of Operating Income to Net Sales Real Estate Ratio of Operating Income to Net Sales Stable revenues form leasing properties
Slide 19: CAPEX and Depreciation Cost
CAPEX and Depreciation Cost （Unit: Yen in billion） FY2019 FY2020 1H Forecasts 1H Full year FY2019 （11.2） CAPEX 19.7 30.1 10.2 17.0 (for manufacturing 18.8 28.8 9.6 16.0 business) (for real estate business) 0.9 1.4 0.6 1.0 Depreciation Cost 17.7 35.7 16.3 33.0 (for manufacturing 16.7 33.7 15.3 31.0 b
Slide 20: Interest-bearing Debts, Net Financial Profit and Free Cash Flow
Interest-bearing Debts, Net Financial Profit and Free Cash Flow （Unit: Yen in billion） FY2019 FY2020 1H 2H Full year 1H Interest-bearing 273.6 260.7 260.7 270.0 Debts① Cash and deposits② 36.9 44.7 44.7 66.9 ①－②Net Debt 236.8 216.0 216.0 203.1 Net Financial (1.0) (0.9) (1.9) (0.8) Profit/Loss Free Ca
Slide 21: 3. Shareholder Return
F Fujikura 3. Shareholder Return
Slide 22: Profit Return
Profit Return Interim dividends FY2020 Results We regret to say there is no interim dividends in FY2020. Year-end dividends FY2020 Forecast As a result of comprehensive consideration based on the consolidated business forecast and environment, we regret to say we will not pay any dividends in FY20
Slide 23: Special Notes
Special Notes: Statements in this presentation that relate to future to results and events (including statements regarding Fujikura's revenue and earnings guidance) and based on Fujikura's current expectations. Actual results in future periods may differ materially form those currently expected beca
Slide 24: 1H FY2020 Financial Results Appendix: Net Sales and Operating Income by Segment
【1H FY2020 Financial Results Appendix】 Net Sales and Operating Income by Segment Net Sales Records and Forecast by Segment Unit: Yen in Billion FY2020 FY2019 FY2020 Forecast on August Full 1Q 2Q 1H 2H Full Year 1Q 2Q 3Q 4Q 1H 2H 1H Est. Year Results Results Results Forecasts Forecasts Power Systems