EIZO Corporation · TSE:6737
EIZO — Eizo Nanao — FY2005 Earnings Presentation
21 slides from EIZO's earnings presentation, Mar 31, 2006
Slide 1: Consolidated Financial Highlights
Consolidated Financial Highlights Fiscal Year Ended Mar 31, 2006
Slide 2: Table of Contents
Table of Contents 1. Consolidated Statements of Income 10. Net Sales (Amusement Monitors) 2. Consolidated Balance Sheets 11. Net Sales (LCD-TV) 3. Selling, general and administrative expenses 12. Direct Sales 4. Consolidated Statements of Cash Flows 13． Ordinary Income 5. Consolidated Financial High
Slide 3: Consolidated Statements of Income
1. Consolidated Statements of Income (millions of JPY ) 04F 05F 04F to 05F change 05F Thousands of Amount （％） Amount （％） Amount （％） USD Net Sales 91,094 100.0 85,057 100.0 (6,036) (6.6) 724,012 Cost of Sales 70,128 77.0 62,059 73.0 (8,068) (11.5) 528,251 Gross Profit 20,966 23.0 22,997 27.0 2,031 9.
Slide 4: Consolidated Balance Sheets
2. Consolidated Balance Sheets （millions of JPY） 04F 05F Increase over 04F 05F Amount （％） Amount （％） Thousands of USD Cash and equivalents 11,171 17.0 15,008 20.1 3,836 127,749 Notes and accounts receivable 17,452 26.5 12,387 16.6 (5,065) 105,439 Inventories 7,762 11.8 13,536 18.1 5,773 115,219 Othe
Slide 5: Selling, general and administrative expenses
3. Selling, general and administrative expenses （millions of JPY） 04F to 05F 05F 04F 05F Change Thousands of USD Amounts (%) Amounts (%) (%) Personnel Costs 2,776 3.0 3,108 3.7 12.0 26,455 R&D Expenses 2,932 3.2 3,053 3.6 4.1 25,987 Advertising Expenses 1,284 1.4 1,545 1.8 20.3 13,151 Others 3,548 3
Slide 6: Consolidated Statements of Cash Flows
4. Consolidated Statements of Cash Flows （millions of JPY） 04F to 05F 05F 04F 05F Change Thousands of USD Net Income before tax and depreciation 11,693 13,327 1,633 113,440 Tax Payment (5,636) (4,045) 1,590 (34,431) Other Operating Cash Flows (3,429) (1,020) 2,408 (8,682) Operating Activities 2,628
Slide 7: Consolidated Financial Highlights
5. Consolidated Financial Highlights （millions of JPY） 04F to 05F 05F Forecast of 04F 05F Change Thousands of USD 06F Net Sales 91,094 85,057 (6.6 %) 724,012 100,000 Ordinary Income 10,348 11,980 15.8 % 101,974 10,000 Ordinary Income/ Net Sales 11.4 % 14.1 % 2.7 p. - 10.0% ROA 15.0 % 17.1 % 2.0 p. -
Slide 8: Net Sales
6. Net Sales （billions of JPY） 100.0 3-year Business Plan Actual & Forecast Change Change 17.6% (6.6%) 80.0 60.0 100.0 100.0 91.6 91.0 40.0 85.0 77.5 20.0 0.0 02F 03F 04F 05F 06F 06F 6 Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 9: Net Sales by Products
7. Net Sales by Products （millions of JPY） 04F 05F 04F to 05F Amount (%) Amount (%) Product Change(%) Monitors for Computer use (LCD Monitors and CRT Monitors) 36,611 40.2 36,249 42.6 (1.0) Amusement Monitors 48,719 53.5 43,599 51.3 (10.5) Others 5,763 6.3 5,208 6.1 (9.6) Total 91,094 100.0 85,057 1
Slide 10: Net Sales by Products (Change)
8. Net Sales by Products (Change) （billions of JPY） CRT Monitors LCD Monitors Amusement Monitors Others 60.0 48.7 50.0 46.7 46.7 43.5 38.5 37.4 46.2 40.0 36.2 36.2 34.6 30.0 26.9 27.6 20.0 10.0 7.9 6.7 5.2 5.7 5.2 7.1 5.5 4.5 2.1 0.0 0.0 0.3 01F 02F 03F 04F 05F 06F 8 Copyright©2006 Eizo Nanao Corpor
Slide 11: Net Sales (LCD Monitors)
9. Net Sales (LCD Monitors) （billions of JPY） 50.0 3-year Business Plan Actual & Forecast Change Change 40.0 (0.1%) 27.6% 30.0 20.0 46.2 45.5 38.5 37.4 36.2 36.2 10.0 0.0 02F 03F 04F 05F 06F 06F 9 Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 12: Net Sales (Amusement Monitors)
10. Net Sales (Amusement Monitors) （billions of JPY） 3-year Business Plan 60.0 Actual & Forecast 50.0 Change Change 7.1% (10.5%) 40.0 30.0 44.6 46.7 48.7 46.7 43.5 20.0 27.6 10.0 0.0 02F 03F 04F 05F 06F 06F 10 Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 13: Net Sales (LCD-TV)
11. Net Sales (LCD-TV) （millions of JPY） 3-year Business Plan 5,000 Actual & Forecast 4,000 3,000 3,000 3,000 Change 466.7% 2,000 Change 1,000 32.3% 529 400 43 0 03F 04F 05F 06F 06F 11 Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 14: Direct Sales
12. Direct Sales （billions of JPY） Actual & Forecast 10.0 10.0 8.0 7.5 6.0 4.5 4.0 Change Change 2.0 1.6 165.8% 254.4% 0.4 0.0 04F 05F 06F 07F 08F 3-year Business Plan 12 Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 15: Ordinary Income
13. Ordinary Income （billions of JPY） 14.0 3-year Business Plan 16% Change Actual & Forecast 14.1% 15.8% Change 12.0 Ordinary Income/ Net Sales (16.5%) 12.5% 11.4% 12% 10.0 10.0% 8.0 8.0% 8% 6.0 11.9 11.4 10.3 10.0 10.0 4.0 4% 6.2 2.0 0.0 0% 02F 03F 04F 05F 06F06F 13 Copyright©2006 Eizo Nanao Corpor
Slide 16: Selling, general and administrative expenses
14．Selling, general and administrative expenses （billions of JPY） 16.0 14.6% 16.0% 14.0 13.0% 14.0% 14.6 11.6% 12.0 11.5% 12.0% 10.4% 11.1 10.5 7.8 10.0 9.5 10.0% 8.9 8.0 6.6 8.0% 6.4 5.9 6.0 5.8 6.0% 2.6 4.0 1.5 4.0% 0.9 1.2 0.6 2.0 4.2 2.0% 2.5 2.7 2.9 3.0 0.0 0.0% 02F 03F 04F 05F 06F R&D Expenses
Slide 17: R&D Expenses
15. R&D Expenses （billions of JPY） 5.0 4.5% 5.0% 5.0% 4.0% 4.0% 4.0 3.6% 4.0% 3.0 3.0% 5.0 3.6 3.8 2.0 3.3 2.0% 3.0 1.0 1.0% 0.0 0.0% 02F 03F 04F 05F 06F R&D Expenses R&D Expenses / Net Sales * Including R&D Expenses as cost of sales 02F 03F 04F 05F 06F Number of R&D staff （The end of Fiscal year） 2
Slide 18: CAPEX
16. CAPEX （billions of JPY） 6.0 CAPEX Molding Cost 0.8 5.0 2.5 billion yen for new R&D building 4.0 3.0 5.0 2.0 0.4 0.5 0.5 1.0 0.3 1.7 1.6 1.3 0.6 0.0 02F 03F 04F 05F 06F 16 Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 19: Plans for FY2006
17. Plans for FY2006 （millions of JPY） 05F 06F 05F to 06F Change Amounts （％） Amounts （％） Amount （％） Net Sales 85,057 100.0 100,000 100.0 14,942 17.6 Ordinary Income 11,980 14.1 10,000 10.0 (1,980) (16.5) Net Income 7,257 8.5 6,000 6.0 (1,257) (17.3) Net Sales by Products Amounts （％） Amounts （％） Amou
Slide 20: Dividend
18. Dividend （JPY／share） 70 Year-end Dividend 22.7% 24% Interim Dividend Dividend payout ratio (Consolidated base) 60 20% 17.5% 50 14.4% 30 16% 40 11.3% 30 12% 9.5% 30 25 60 8% 20 55 20 40 30 7.5 25 4% 10 30 15 10 15 7.5 0 0% 02F 03F 04F 05F 06F 18 Copyright©2006 Eizo Nanao Corporation. All rights r
Slide 21: Disclaimer Regarding Forward-looking Statements
Disclaimer Regarding Forward-looking Statements Any statements in this document, other than those of historical fact, are forward-looking statements about the future performance of Eizo and its Group companies, which are based on management’s assumptions and beliefs in light of information currently