1H FY2019 Financial Results (presentation material) Nov 20, 2019 - - PowerPoint PPT Presentation

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1H FY2019 Financial Results (presentation material) Nov 20, 2019 - - PowerPoint PPT Presentation

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CMK CORPORATION Stock code 6958 1H FY2019 Financial Results (presentation material) Nov 20, 2019 CMK CORPORATION 1 Contents Consolidated financial results for 1H FY2019 Our business overview Supplementary

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1

1H FY2019 Financial Results

(presentation material)

Nov 20, 2019 CMK CORPORATION

CMK CORPORATION （Stock code：6958）

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Contents

2

１．Consolidated financial results for 1H FY2019 ２．Our business overview ３．Supplementary material

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１．Consolidated financial results

for 1H FY2019

3

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①Key points of 1H FY2019 Financial results

4

Consolidated financial results for 1H FY2019 41.9 44.7 42.9 2.1 1.7 0.7

1,000 2,000 3,000 10 20 30 40 50

1H FY2017 1H FY2018 1H FY2019

Sales Operating income

 Sales of our key products for automotive use reminded strong by the progress of automotive electrification. However, net sales decreased due to decline in mobile communication sales and amusement sales etc.  Operating income decreased due to decline in sales and low operation rate of factories in Japan etc.

（Billions of yen）

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②Consolidated Income statement

5

1H FY2018 Results 1H FY2019 Results YoY Change % Net sales

44.7 42.9

  • 1.7
  • 4.0%

Operating income

1.7 0.7

  • 1.0
  • 60.0%

Operating margin

4.0% 1.7%

  • 2.3%

Ordinary income

1.8 0.7

  • 1.0
  • 56.8%

Profit attributable to owners of parent

1.1 0.2

  • 0.8
  • 75.7%

Exchange rate (USD/JPY)

108.52 109.98

+1.46 +1.3%

Consolidated financial results for 1H FY2019

（Billions of yen）

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SLIDE 6

33.4 35.1

1.3 0.4 0.5 0.4 0.8 0.6 1.0 0.1 7.6 6.0

0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 1H FY2018 (Results) 1H FY2019 (Results)

Car electronics

44.7 42.9

Car electronics

AV equipment Digital still camera Mobile communications Amusement Others AV equipment Digital still camera Mobile communications Amusement Others （Billions of yen）

③Sales by application

6

 Sales of products for automotive use increased steadily by 5.4% compared with the previous fiscal year  The share of products for automotive use in total sales increased from 74.6% in the previous fiscal year to 81.9% Consolidated financial results for 1H FY2019

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④Analysis of changes in operating income

7

0.7 1.7 ▲1.4 0.3 0.3 ▲0.3

0.0

1H FY2018 Operating income (Results) 1H FY2019 Operating income (Results)

Consolidated financial results for 1H FY2019

Decreased in profit due to sales decline Improved manufacturing yield and increased productivity Exchange fluctuation Decreased sales prices and increased procurement cost etc. （Billions of yen）

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⑤Changes in quarterly operating income

8 0.63 0.65 0.76 0.65 0.68 0.75 0.26 0.27 0.04 0.23 0.59 0.45 0.49 0.37 0.16 0.42 1.03 0.70 0.26 0.49

▲ 0.09 ▲ 0.09 ▲ 0.08 ▲ 0.07 ▲ 0.07 ▲ 0.14 ▲ 0.16 ▲ 0.12 ▲ 0.16 ▲ 0.15

1.13 1.01 1.18 0.95 0.76 1.03 1.13 0.85 0.14 0.57

  • 0.20

0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40

FY2017 1Q 2Q 3Q 4Q FY2018 1Q 2Q 3Q 4Q FY2019 1Q 2Q 3Q 4Q

Japan ：Productivity enhancement Overseas：Enhancement of production capacity in the factory of Thailand and Wuxi

Consolidated financial results for 1H FY2019

■Overseas ■Japan ■Adjustment

Japan： 3-1Q Low operating rate Overseas：1-2Q Exchange fluctuation 4-1Q Upfront cost of capital investment in the factory of Thailand Japan： 2Q Optimization in production

  • peration

Overseas：2Q Exchange fluctuation and increased productivity

（Billions of yen）

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FY2019 1Q Results FY2019 2Q Results QoQ

Sales Operating income Sales Operating income Sales Operating income

Japan

12.5 12.6 0.2

+0 +0.1 China

7.2 0.3 7.3 0.3

+0.1 +0 Southeast Asia

5.9

  • 0.1

6.2

+0.2 +0.2 Europe & North America

1.5 1.6

+0 +0 Total

27.3 0.3 27.8 0.7

+0.4 +0.4 Adjustment

▲6.0 ▲0.1 ▲6.1 ▲0.1

  • 0.1

+0 Consolidated

21.3 0.1 21.6 0.5

+0.3 +0.4

Consolidated financial results for 1H FY2019

⑥Quarterly financial results by region

（Billions of yen）

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⑦Consolidated Income Statement

10

FY2018 Results FY2019 Forecast YoY Change % Net sales

90.2 87.0

  • 3.2
  • 3.6%

Operating income

3.7 2.0

  • 1.7
  • 46.9%

Operating margin

4.2% 2.3%

  • 1.9%

Ordinary income

3.7 1.7

  • 2.0
  • 54.9%

Profit attributable to

  • wners of parent

2.0 1.2

  • 0.8
  • 40.4%

Exchange rate (USD/JPY)

110.37 110.00

  • 0.37
  • 0.3%

Consolidated financial results for 1H FY2019

（Billions of yen）

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２．Our business overview

11

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12

Information and Communication Body Electronics Climate Control

Required quality・reliability

Powertrain Driving control and Safety

FY2018 1Q 2Q 3Q 4Q FY2019 1Q 2Q

Powertrain・Driving control and Safety Body Electronics・Climate Control Information and Communication

+13％ +11％

  • 4％

+17.8 +17.0 +17.8 +17.8 +17.3 +16.3

＊Compared with FY2018 1Q

Our key business sectors Sales for automotive use

Our business overview Single-sided Double-sided Multilayered HDI

Market growth

Value-added Products

（Billions of yen）

①Our business overview：Our key Business sectors and sales for automotive use

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Our business overview

CMK electronics(Wuxi)co., ltd.

（HDI）

Capital investment was finished to enhance production capacity by 20% compared with the existing capacity, responding to a growing demand for HDI PWBs for automotive use

CMK Corporation(THAILAND) co., ltd.

（Double-sided, Multilayered, HDI）

Capital investment was finished to enhance production capacity by 25% compared with the existing capacity, responding to a growing demand for products for Powertrain and Driving control and Safety

②Our business overview：Enhanced production capacity in overseas factories

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Our business overview

We will progress our developments in the fields high quality and high reliability required

Powertrain

Application for automotive use

Inverter Converter

Main products 2019

Compact sizing ／Next generation

PWB requirement 2020 After 2021

Driving control and Safety ADAS

・Down-sized unit ・Reliability of high withstand voltage （ EV has higher voltage than 10x voltage for gasoline vehicle ） ・High heat-resistance performance（More than 1.5x conductive reliabilities of consumer products） ・High current PWB for PHV or EV

Millimeter wave Radar

Camera・ Information module, Other sensors

MSAP Camera control Thick RF PWB

・Requests of more down-sizing and more accuracy improvement ・Thick RF PWB for higher stiffness ・Higher reliability of thin PWB for automotive use

Fine pattern Under Mass-production Heavy cooper Thin PWB

・PWB combined higher density and higher stiffness

LED Lamp Cooper based

・Requests of higher heat radiation Information and communication Communication module for automotive

Fine pattern

・Requests of more down-sizing and more accuracy improvement

※RF Stands for Rigid flexible PWB

HDI Development Mass-production Mass- production Trial Mass-production Under-Mass-production Under Mass-production Trial

Market needs

Trial Mass-production Mass-production Trial Under Mass-production Trial Mass- production

③Our business overview：Technology roadmaps

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３．Supplementary material

15

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①Sales by application

16

Supplementary material

1H FY2018 Results 1H FY2019 Results YoY Change FY2019 Forecast Car electronics

33.4 35.1

+1.7

71.2

Mobile communications

1.3 0.4

  • 0.8

0.8

AV equipment

0.5 0.4

1.0

Digital still camera

0.8 0.6

  • 0.1

1.4

Amusement

1.0 0.1

  • 0.8

0.3

Others

7.6 6.0

  • 1.5

12.0

Total

44.7 42.9

  • 1.7

87.0

（Billions of yen）

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②Sales by type of PWBs

17

Supplementary material

1H FY2018 Results 1H FY2019 Results YoY Change FY2019 Forecast HDI PWBs

13.8 11.3

  • 2.4

22.6

Multilayered PWBs

19.5 22.0

+2.5

45.1

Double-sided PWBs

7.5 6.7

  • 0.8

13.5

Others

3.8 2.8

  • 1.0

5.6

Total

44.7 42.9

  • 1.7

87.0

（Billions of yen）

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③Financial results by region

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Supplementary material

1H FY2018 Results 1H FY2019 Results YoY Change FY2019 Forecast

Sales Operating income Sales Operating income Sales Operating income Sales Operating income

Japan 26.9 1.4 25.2 0.2

  • 1.6
  • 1.1

50.9 1.0 China 14.3 0.1 14.5 0.7 +0.1 +0.5 29.0 1.4 Southeast Asia 11.3 0.1 12.2

  • 0.1

+0.8

  • 0.3

25.0

  • 0.1

Europe & North America 3.6 0.2 3.2 0.1

  • 0.4

6.2 0.3 Total 56.2 2.0 55.2 1.0

  • 1.0
  • 0.9

111.3 2.6 Adjustment ▲11.5 ▲0.2 ▲12.2 ▲0.3

  • 0.7

▲24.3 ▲0.6 Consolidated 44.7 1.7 42.9 0.7

  • 1.7
  • 1.0

87.0 2.0

（Billions of yen）

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④Capital investment

19

Supplementary material

1H FY2018 Results 1H FY2019 Results YoY Change FY2019 Forecast Japan

0.5 0.5

+0

2.2

Overseas

1.7 5.1

+3.4

7.5

Consolidated

2.2 5.7

+3.4

9.8

Depreciation cost

2.1 2.2

+0.1

5.0

（Billions of yen）

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END

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Future-related information and descriptions in this material are just forward-looking statements and not guarantees for future achievements (Amounts are rounded, and % is rounded to one decimal place.)