EIZO Corporation · TSE:6737
EIZO — H1 FY2006 Earnings Presentation
21 slides from EIZO's earnings presentation, 2006
Slide 1: Consolidated Financial Highlights
Consolidated Financial Highlights First half financial result of fiscal 2006
Slide 2: 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 currentl
Slide 3: 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 Highl
Slide 4: 1. Consolidated Statements of Income
1. Consolidated Statements of Income (millions of JPY ) 05F1 06F1 05F1 to 06F1 change 06F1 Thousands of Amount Amount Amount USD Net Sales 47,153 100.0 49,749 100.0 2,596 5.5 421,959 Cost of Goods Sold 33,373 70.8 36,534 73.4 3,161 9.5 309,873 Gross Profit 13,779 29.2 13,214 26.6 (565) (4.1) 112,078
Slide 5: 2. Consolidated Balance Sheets
2. Consolidated Balance Sheets millions of JPY Increase over 05F1 05F 06F1 06F1 05F Thousands of Amount Amount Amount Amount USD Cash and cash equivalents 11,887 16.9 15,008 20.1 12,316 15.5 (2,691) 104,461 Notes and accounts receivable 16,963 24.1 12,387 16.6 16,956 21.4 4,569 143,817 Inventories 6
Slide 6: 3. Selling, general and administrative expenses
3. Selling, general and administrative expenses millions of JPY 05F1 to 06F1 06F1 05F1 06F1 Change Thousands of USD Amounts (%) Amounts (%) (%) Personnel Costs 1,580 3.4 1,666 3.3 5.4 14,131 R&D Expenses 1,467 3.1 1,708 3.4 16.4 14,487 Advertising Expenses 582 1.2 790 1.6 35.7 6,701 Others 1,630 3.4
Slide 7: 4. Consolidated Statements of Cash Flows
4. Consolidated Statements of Cash Flows millions of JPY 05F1 to 06F1 06F1 05F1 06F1 Change Thousands of USD Net Income(Interim) before tax and depreciation 9,113 7,429 (1,683) 63,011 Tax Payment (2,072) (1,998) 74 (16,947) Other Operating Cash Flows 252 (3,457) (3,709) (29,321) Operating Activities
Slide 8: 5. Consolidated Financial Highlights
5. Consolidated Financial Highlights millions of JPY 05F1 to 06F1 06F1 Forecast of 05F1 06F1 Change Thousands of USD 06F Net Sales 47,153 49,749 5.5 % 421,959 94,000 Ordinary Income 8,528 6,861 (19.5 %) 58,193 10,000 Ordinary Income/ Net Sales 18.1 % 13.8 % (4.3 p.) - 10.6% ROA 25.0 % 17.8 % (7.2 p.
Slide 9: 6. Net Sales
6. Net Sales billions of JPY 120 100 Change 94.0 91.6 91.0 Change 85.0 10.5% (6.6%) 77.5 80 45.2 44.2 45.6 37.9 60 42.8 40 46.4 45.4 47.1 49.7 20 34.6 0 02F 03F 04F 05F 06F 06F Change Change 3.8% 5.5% 6 Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 10: 7. Net Sales by Products
7. Net Sales by Products millions of JPY 05F1 06F1 05F1 to 06F1 Amount (%) Amount (%) Product Change(%) Monitors for Computer use 14,029 29.8 18,740 37.7 33.6 Amusement Monitors 30,803 65.3 28,471 57.2 (7.6) Others 2,319 4.9 2,537 5.1 9.4 Total 47,153 100.0 49,749 100.0 5.5 7 Copyright©2006 Eizo Nan
Slide 11: 8. Net Sales by Products (Change)
8. Net Sales by Products (Change) billions of JPY 60.0 48.7 50.0 46.7 45.5 43.5 38.5 37.4 40.0 36.2 36.2 34.6 42.0 27.6 30.0 26.9 20.0 7.9 10.0 6.6 6.5 5.2 5.7 5.2 5.5 2.1 0.3 4.5 0.0 0.0 0.0 01F 02F 03F 04F 05F 06F 8 Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 12: 9. Net Sales (LCD Monitors)
9. Net Sales (LCD Monitors) billions of JPY 50.0 F1 F2 42.0 40.0 38.5 37.4 36.2 36.2 Change Change (0.1%) 16.0% 30.0 16.7 23.2 21.6 18.4 22.2 3Y Plan 20.0 45.5 10.0 21.8 17.8 18.7 15.7 13.9 0.0 02F 03F 04F 05F 06F 06F Change Change (21.5%) 33.9% 9 Copyright©2006 Eizo Nanao Corporation. All rights re
Slide 13: 10. Net Sales (Amusement Monitors)
10. Net Sales (Amusement Monitors) billions of JPY 60.0 F1 F2 48.7 50.0 46.7 43.5 45.5 Change Change (10.5%) 4.4% 40.0 19.9 24.6 12.7 17.0 30.0 27.6 3Y Plan 44.6 20.0 21.3 30.8 28.4 26.8 24.1 10.0 6.3 0.0 02F 03F 04F Change 05F Change 06F 06F 27.7% (7.6%) 10 Copyright©2006 Eizo Nanao Corporation. Al
Slide 14: 11. Net Sales (LCD-TV)
11. Net Sales (LCD-TV) millions of JPY F1 F2 3,000 3Y Plan 3,000 2,000 1,160 1,000 Change 119.1% 877 Change 529 400 32.3% 287 241 158 242 282 0 43 03F 04F 05F 06F 06F Change Change 11 52.9% 16.6% Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 15: 12. Direct Sales
12. Direct Sales billions of JPY 10.0 10.0 8.0 7.5 5.5 6.0 4.0 4.0 Change 38.2% 2.0 0.0 Change 3-year Business Plan 28.3% 12 Copyright©2006 Eizo Nanao Corporation. All rights reserved.
Slide 16: 13. Ordinary Income
13. Ordinary Income billions of JPY 14.0 Change Change 11.9 (16.5%) 16.0% 12.0 11.4 15.8% 10.3 14.1% 3.4 10.0 10.0 12.5% 4.3 12.0% 11.4% 10.6% 8.0 5.0 3.1 6.2 6.0 8.0% 8.0% 3Y Plan 10.0 4.0 3.8 8.5 7.1 6.8 4.0% 5.3 2.0 2.3 0.0 0.0% 02F 03F 04F 05F 06F 06F Change Change 60.3% (19.5%) 13 Copyright©200
Slide 17: 14. Selling, general and administrative expenses (Change)
14 Selling, general and administrative expenses(Change) billions of JPY 16.0 14.5% 16.0% 14.0 13.0% 14.0% 11.6% 13.6 12.0 11.5% 12.0% 10.4% 11.1 10.5 10.0 9.5 10.0% 8.9 8.0 8.0% 6.0 6.0% 4.0 4.0% 2.0 2.0% 0.0 0.0% 02F 03F 04F 05F 06F R&D Expenses Advertising Expenses Others SG&A / Net Sales 14 Copyr
Slide 18: 15. 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% 3.6 3.8 4.6 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 goods sold 02F 03F 04F 05F 06F Number of R&D staff The end of Fiscal year
Slide 19: 16. CAPEX
16. CAPEX billions of JPY 7.0 CAPEX Molding Cost Depreciation Molding Cost 6.0 1.0 2.5 billion yen for 5.0 new R&D building 4.0 3.0 5.6 2.0 0.4 0.5 1.0 0.5 0.5 0.5 0.2 0.4 1.0 0.2 1.1 1.7 1.6 1.1 1.3 1.3 1.2 1.2 0.6 0.0 02F 03F 04F 05F 06F 16 Copyright©2006 Eizo Nanao Corporation. All rights reserve
Slide 20: 17. 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 94,000 100.0 8,942 10.5 Ordinary Income 11,980 14.1 10,000 10.6 (1,980) (16.5) Net Income 7,257 8.5 6,000 6.4 (1,257) (17.3) Net Sales by Products Amounts Amounts Amount Monitors for Computer
Slide 21: 18. Dividend
18. Dividend JPY share 70 Year-end Dividend 22.7% 24.0% Interim Dividend Dividend payout ratio (Consolidated base) 60 20.0% 17.5% 50 14.4% 30 16.0% 40 11.3% 30 12.0% 9.5% 30 25 60 8.0% 20 55 20 40 30 7.5 25 4.0% 10 30 15 10 15 7.5 0 0.0% 02F 03F 04F 05F 06F 18 Copyright©2006 Eizo Nanao Corporation.