FY2012FY2012 2Q2Q（（Ended September 2012Ended September 2012））

Financial Results（（Ended September 2012Ended September 2012））

Financial Results& Business Update& Business Update

Nov 20 2012

（（Security CodeSecurity Code：：67876787））

Nov. 20, 2012

DisclaimerDisclaimer

This presentation contains forwardThis presentation contains forward--looking statements concerning looking statements concerning Meiko Group’s future plans, strategies and performance. However, Meiko Group’s future plans, strategies and performance. However, Meiko does not publish this presentation as a disclosure document Meiko does not publish this presentation as a disclosure document based on the Financial Instruments and Exchange Act of Japan.based on the Financial Instruments and Exchange Act of Japan.

These forwardThese forward--looking statements are not historical facts, rather they looking statements are not historical facts, rather they represent assumptions and beliefs based on comprehensive data represent assumptions and beliefs based on comprehensive data currently available.currently available.

Furthermore, the PWB business is subject to a number of risks and Furthermore, the PWB business is subject to a number of risks and uncertainties that relate to raw material price, conditions of customers’ uncertainties that relate to raw material price, conditions of customers’ market technological trends foreign currency exchange rates taxmarket technological trends foreign currency exchange rates taxmarket, technological trends, foreign currency exchange rates, tax market, technological trends, foreign currency exchange rates, tax rules, regulations, disasters, international conflicts and other factors. rules, regulations, disasters, international conflicts and other factors. Meiko therefore wishes to caution that actual results may differ Meiko therefore wishes to caution that actual results may differ materially from our expectationsmaterially from our expectationsmaterially from our expectations.materially from our expectations.

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1. Highlights 1. Highlights of FY2012 of FY2012 2Q2Q

PagePage

11-- 11 Outline of 1Q & 2Q Business ResultsOutline of 1Q & 2Q Business Results 3311 1.1. Outline of 1Q & 2Q Business ResultsOutline of 1Q & 2Q Business Results

11-- 2.2. Consolidated Financial Results (Consolidated Financial Results (YoYYoY))

33

44

11-- 3.3. NonNon--Consolidated Financial Results (Consolidated Financial Results (YoYYoY))

11-- 4.4. Major Sections ResultsMajor Sections Results

55

66jj

11-- 5.5. Net Net Sales (by businessSales (by business)) 77

8811-- 6.6. Net Net Sales (by marketSales (by market))

11-- 7.7. Net Net Sales (by productsSales (by products))

88

99

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11-- 1. Outline of 1Q & 2Q Business Results1. Outline of 1Q & 2Q Business Results

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11-- 2.2. Consolidated Financial Results (Consolidated Financial Results (YoYYoY))

Exchange rate : 78.96JPY/USD 6.33RMB/USD (millions of yen)FY2011 YoY FY2012 YoY

Net sales 32,320 -15.8% 29,473 -8.8%

O ti i 448 77 7% 71 84 0%Operating income 448 -77.7% 71 -84.0%

% 1.4% 0.2%

Ordinary income (loss) -1,021 - -1,826 -

% -3.2% -6.2%

Net sales (loss) -828 - -2,747 -

% -2.6% -9.3%% 2.6% 9.3%

Net income (loss)per share (yen)

-44.15 -146.34

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11-- 3.3. NonNon--Consolidated Financial Results (Consolidated Financial Results (YoYYoY))

Exchange rate : 78.96JPY/USD 6.33RMB/USD (millions of yen)FY2011 YoY FY2012 YoY

Net sales 17,001 -27.6% 14,957 -12.0%

O ti i 1 264 13 3% 620 50 9%Operating income 1,264 13.3% 620 -50.9%

% 7.4% 4.1%

Ordinary income (loss) -317 - 429 -

% -1.9% 2.9%

Net sales (loss) 106 -78.7% 401 276.6%

% 0.6% 2.7%% 0.6% 2.7%

Net income (loss)per share (yen)

5.68円 21.41円

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11-- 4.4. Major Sections ResultsMajor Sections Results

Exchange rate : 78.96JPY/USD 6.33RMB/USD (millions of yen)Guangzhou Plant FY2011 YoY FY2012 YoYNet sales 13,725 -15.2% 14,362 4.6%

Operating income (loss) -18 - 1,050 -% -0.1% 7.3%

Wuhan Plant FY2011 YoY FY2012 YoYN l 11 584 11 0% 8 476 26 8%Net sales 11,584 -11.0% 8,476 -26.8%

Operating income (loss) 579 -48.5% -888 -% 5.0% -10.5%

Vietnam Plant FY2011 YoY FY2012 YoYNet sales 149 820 450 1%Net sales 149 - 820 450.1%

Operating income (loss) -209 - -829 -% 140 3% 101 1%

-6-

% -140.3% -101.1%

11-- 5.5. Net Net Sales (by businessSales (by business))

PCB business

Other businessbusiness business

(YoY) -65.0%(YoY) -5.0%

28.8 0.7FY2012 FY2012 2Q2Q29.5 billion yen29.5 billion yen

97 6% 2 4%

93.8% 6.2%

97.6% 2.4%

FY2011 FY2011 2Q2Q32.3 billion yen32.3 billion yen 2.030.3

(YoY) -15.8% (YoY) -13.0%

PCB business includes PCB manufacturing, Design, Tool, and Solder stencils.

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Other business includes Assembly, Industrial Equipments, and Imaging Equipments.

11-- 6.6. Net Net Sales (by marketSales (by market))

TV AVAV AutomobilesAutomobiles Mobile Mobile OfficeOffice

AmusementAmusementIndustrialIndustrial Other PCBsOther PCBs

Design & ToolDesign & Tool

billion yenbillion yen

DSCDSC phonesphones PC/HDDPC/HDD Other Other BusinessBusiness

2.12.1 0.80.8

0 50 5

14.414.4 2.52.5 2.62.6 2.12.1 1.11.10.30.3

1.01.01.11.1FY2012 2QFY2012 2Q

29 529 5 0.50.5 1.01.0

7% 3%3% 2%2% 49%49% 8%8% 9%9% 7%7% 4%4%1%1% 3%3% 4%4% 3%3%

29.529.5

1.21.2

0.60.6

11.011.0 2.72.7 2.82.8 2.02.0 1.31.3 1.81.8

0.40.4

1.41.4 2.02.05.15.1FY2011 2QFY2011 2Q

32.332.316%16% 4%4% 2%2% 34%34% 8%8% 9%9% 6%6% 4%4%1%1%6%6% 4%4% 6%6%

*Some items manufactured at Kanagawa Factory were allotted to “Others” regardless of market in FY2011(about 0.6 billion yen.) In FY2012 all the items are assorted by market.

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HH

11-- 7.7. Net Net Sales (by products)Sales (by products)

DoubleDouble-- 4 layers 4 layers 6 or more 6 or more HDIHDI

An

y Layer HA

ny Layer H

Mod

Mod

FPC

/FP

C/

Heavy C

oppH

eavy Copp

Heat D

issipatH

eat Dissipat

Design

& T

Design

& T

Oth

Oth

billion yenbillion yen

3.63.6 10.810.8 5.55.5 4.84.8 0.30.3

0.40.4

0.80.8

0.60.6

1.11.1 1.01.0

sided sided yy

layerslayersHDIHDI

HD

IH

DI

ule

ule

/FR/FRperper

tiontionToolTool

ersers

FY2012 2QFY2012 2Q

29 529 50.60.6

12%12% 37%37% 19%19% 16%16% 1%1% 2%2% 2%2% 3%3%1%1% 3%3%

4%4%

29.529.5

0 50 5 0 60 6

4.14.1 13.013.0 4.64.6 4.54.5 0.80.8

0.50.5

0.30.3

0.50.5

0.60.6

1.41.4 2.02.0FY2011 2QFY2011 2Q

32.332.3

13%13% 40%40% 14%14% 14%14%2%2% 1%1% 2%2% 6%6%

2%2% 2%2%

4%4%

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2. FY2012 Forecast2. FY2012 Forecast

22-- 1 FY2012 Initiatives1 FY2012 Initiatives

PagePage

111122 1. FY2012 Initiatives1. FY2012 Initiatives

22-- 2. Consolidated Financial Forecast2. Consolidated Financial Forecast

1111

1212

22-- 3. Non3. Non--consolidated Financial Forecastconsolidated Financial Forecast 1313

22-- 4. 4. Major Sections Major Sections ForecastForecast

22 5 Capital Investment Forecast5 Capital Investment Forecast

1414

151522-- 5. Capital Investment Forecast5. Capital Investment Forecast

22-- 6. Cash Flow Statement Forecast6. Cash Flow Statement Forecast

1515

1616

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22-- 1. FY2012 1. FY2012 InitiativesInitiatives

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22-- 2. Consolidated Financial 2. Consolidated Financial ForecastForecast

（millions of yen）FY2010 YoY FY2011 YoY FY2012 YoY

Rate Assumptions : 79.0JPY/USD 6.29RMB/USD

Net sales 74,724 7.0% 62,972 -15.7% 63,000 0.0%

O ti i 3 297 13 1% 812 75 4% 700 13 8%Operating income 3,297 -13.1% 812 -75.4% 700 -13.8%

Margin 4.4% 1.3% 1.1%

O di i (l ) 2 127 21 1% 222 89 6% 1 800Ordinary income (loss) 2,127 -21.1% 222 -89.6% -1,800 -

Margin 2.8% 0.4% -2.9%

l (l )Net sales (loss) -3,094 - 1,158 - -2,400 -

Margin -4.1% 1.8% -3.8%

N t i (l )Net income (loss)per share (yen)

-166.32 61.73 -127.84

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22-- 3. Non3. Non--consolidated Financial consolidated Financial ForecastForecast

（millions of yen）FY2010 YoY FY2011 YoY FY2012 YoY

Rate Assumptions : 79.0JPY/USD 6.29RMB/USD

Net sales 44,634 3.5% 33,802 -24.3% 30,000 -11.2%

O ti i 2 661 619 1% 2 569 3 5% 1 200 53 3%Operating income 2,661 619.1% 2,569 -3.5% 1,200 -53.3%

Margin 6.0% 7.6% 4.0%

O di i (l ) 1 822 116 5% 2 204 21 0% 900 59 2%Ordinary income (loss) 1,822 116.5% 2,204 21.0% 900 -59.2%

Margin 4.1% 6.5% 3.0%

l (l )Net sales (loss) -2,909 - 3,677 - 1,350 -63.3%

Margin -6.5% 10.9% 4.5%

N t i (l )Net income (loss)per share (yen)

-156.35 195.89 71.91

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22-- 4. 4. Major Sections Major Sections ForecastForecast

（millions of yen）Guangzhou Plant FY2010 YoY FY2011 YoY FY2012 YoY

Rate Assumptions : 79.0JPY/USD 6.29RMB/USD

Net sales 31,132 11.9% 28,383 -8.8% 25,549 -10.0%

Operating income (loss) 1,310 -50.8% 960 -26.7% 1,223 27.3%Margin 4 2% 3 4% 4 8%Margin 4.2% 3.4% 4.8%

Wuhan Plant FY2010 YoY FY2011 YoY FY2012 YoYNet sales 25,798 20.9% 19,024 -26.3% 19,526 2.6%, , ,

Operating income (loss) 2,150 -24.6% -548 - -776 -Margin 8.3% -2.9% -4.0%

Vietnam Plant FY2010 YoY FY2011 YoY FY2012 YoYNet sales 0 - 839 - 4,001 376.9%

O ti i (l ) 0 757 784Operating income (loss) 0 - -757 - -784 -Margin - -90.1% -19.6%

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22-- 5. Capital Investment 5. Capital Investment ForecastForecast

19 Capital investment for outside JapanCapital investment for outside Japan

Capital investment for inside JapanCapital investment for inside Japan

(billion yen)(billion yen)

178.7178.7

15

17

p pp p

21.021.0

11

13

15

96 196 19

11 157.7157.7

6.06.096.196.1

67.867.860 060 0

5

7 12.012.090.190.155 855 8

67.867.8

5.05.055 055 0

60.060.0

3 55.855.8

FY2010FY2010 FY2011FY2011 FY2012FY2012

55.055.0

FY2013FY2013forecastforecast

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forecastforecast

22-- 6. Cash Flow Statement 6. Cash Flow Statement ForecastForecast

20

10

15

Cash flow from Cash flow from financingfinancing activitiesactivities

23.623.610.610.6

86.886.8

0

5Cash flow from Cash flow from operating operating activitiesactivities

financing financing activitiesactivities

79.279.2 92.592.555.455.4

65 965 9

10

-5

Cash flow from Cash flow from investing investing activitiesactivities

--179.1179.1--103.8103.8 --65.965.9

-15

-10

-20

FY2010FY2010--13.113.1--99.999.9

Net CFNet CF

Free CFFree CF

FY2011FY2011

--11.311.3+12.3+12.3

FY2012FY2012

--10.510.5+0.1+0.1

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0 00 0 00 00ForecastForecast

3. Market Trends3. Market Trends

33-- 1 Global Market (1)1 Global Market (1)-- Mobile Phone & PCMobile Phone & PC

PagePage

181833 1. Global Market (1)1. Global Market (1) Mobile Phone & PCMobile Phone & PC

33-- 2. 2. Global Market Global Market (2)(2)-- HDD HDD & & SSDSSD

1818

1919

33-- 3. 3. Global Market Global Market (3)(3)-- Automobile & HVAutomobile & HV 2020

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33-- 1. Global Market (1)1. Global Market (1)-- Mobile Phone & Mobile Phone & PCPC

Mobile Phone(millions)

Smartphone 798Ultrabook

Tablet

PC(millions)

Mobile phone627

714

280

Ultrabook

2,0052,090

2,172 2,242

463 677 978 1,173 1 379 1 581 418

537

470180

230

132

Laptop1,775 1,830

1,379 1,581 418 132

6599

113140 166

7122

1,3121,153 1,027 917

793 661

199 184 194 202184199

Desktop

‘11 ‘12 ‘13 ‘14 ‘15 ‘16

793 661

‘11 ‘12 ‘13 ‘14 ‘15 ‘16

150 150 150 150150150

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11 12 13 14 15 16(Reference: Daiwa Security 2012.11)

11 12 13 14 15 16(Reference: IDC 2012.11）

33-- 2. Global Market (2)2. Global Market (2)-- HDD & HDD & SSDSSD

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33-- 3. Global Market (3)3. Global Market (3)-- Automobile & Automobile & HVHV

HV and others

110 000

(thousands) Automobile (thousands)

9,200

93,000

110,000

63,19571,528

75,35077,000 *The sum of Hybrid vehicles, Plug-in

hybrid vehicles, and Electric vehicles.

3,830

63,195

75 06089,170

100,800

759 9211,190

1,94062,43670,607

74,16075,060

‘09 ‘10 ‘11 ‘12 ‘15 ‘20

759 921

3,830 9,200

‘09 ‘10 ‘11 ‘12 ‘15 ‘20

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09 10 11 12 15 2009 10 11 12 15 20(Reference: Daiwa Security Analyst Report 2012.5) (Reference: Daiwa Security Analyst Report 2012.5)

4. Business Strategy4. Business Strategy

44-- 1. Initiatives from the next fiscal year1. Initiatives from the next fiscal year 2222

PagePage

yy

44-- 2. Initiatives of overseas production bases2. Initiatives of overseas production bases 2323

44-- 3. Resumption plan of Miyagi Factory3. Resumption plan of Miyagi Factory

44-- 4. FY2013 prospects overview4. FY2013 prospects overview

2424

2525p pp p

44-- 5. 5. FY2013 FY2013 prospects (by market)prospects (by market) 2626

44-- 6. 6. FY2013 prospects (by FY2013 prospects (by production base)production base)

44-- 7.7. FY2013 prospects (FY2013 prospects (by products)by products)

2727

282844 7. 7. FY2013 prospects (FY2013 prospects (by products)by products)

44-- 8. 8. FY2013 prospects (by FY2013 prospects (by nationality)nationality)

2828

2929

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44-- 1. Initiatives from the next fiscal 1. Initiatives from the next fiscal yearyear

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44-- 2. Initiatives of overseas production 2. Initiatives of overseas production basesbases

Wuhan Plant• Expansion of PCBs for smartphones• Expansion of PCBs for automobiles• Launching of brand-new PCBs Guangzhou Plant

• Specialization in PCBs for automobiles• Securing the high qualitySecuring the high quality• Strengthening the profitability through optimization

Vietnam Plant• Expansion of PCBs for smartphones• Expansion of production line for automobiles

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44-- 3. Resumption plan of Miyagi 3. Resumption plan of Miyagi FactoryFactory

Floor area : Using 25% of the total floor area(=4,000m2)

Investment : 1 billion yen

Products : Embedded devices PCBs, Module PCBs

Employees : 30 peopleEmployees : 30 people

Schedule : April 2013

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44-- 4. FY2013 prospects 4. FY2013 prospects overviewoverview

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44-- 5. FY2013 prospects (by market5. FY2013 prospects (by market))Amusement OthersIndustrial

(billion yen)

TVAV

DSC AutomobilesMobile phones

PC/HDD

Office

Amusement OthersDesign & ToolOther

Business

1.81.6

0.8 28.4 18.8 5.5 4.4 2.9

0.6

2.0 2.4 2.8FY2013 prospect72 billion(PCB 66.8

billion)

Business

3%2%1% 39% 26% 8% 6%4%1% 3% 4%3%billion)

3.5

1.7

1.2 27.4 9.6 5.2 4.2 2.51.1

1.62.3 2.7

FY2012 forecast63 billion(PCB 58.0

billion)6% 3%2% 44% 15% 8% 7% 5%2% 4% 4%2%

billion)

FY201163 billion(PCB 55.6

billion) 1.51.9 25.5 6.2 5.4 4.0 1.9

1.17.9

0.22.9 4.5

13% 2%3% 40% 10% 9% 6% 3%2%5% 7%

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13% 2%3% 40% 10% 9% 6% 3%2%5% 7%

44-- 6. FY2013 prospects (by production base6. FY2013 prospects (by production base))

Kanagawa

Fukushima

Yamagata Guangzhou Wuhan Vietnam Other business

Miyagi

(billion yen)

FY2013 prospect72 billion

6.6 19.52.62.5 21.9 13.6 5.2

3% 4% 9% 27% 30% 19% 7%

0.1

3% 4% 9% 27% 30% 19% 7%

FY2012 forecast

6.3 billion5.04.017.524.27.12.92.3

4% 5% 11% 38% 28% 6% 8%

0

FY20116.3 billion 7.40.516.825.77.52.5 2.5 0.1

4% 4% 12% 41% 27% 1% 12%

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44-- 7. FY2013 prospects (by products7. FY2013 prospects (by products))

H

(billion yen)

Double- 6 or more HDI

An

y Layer HD

Mo

du

FPC

/FH

eavy Co

pp

Heat D

issipatio

Desig

n &

To

Oth

e

5.2 19.4 12.2 20.2 4.50.9

1.31.7

1.42.82.4

FY2013 prospect72 billion

sided 4 layers layers HDI

DI

ule

FRp

er

on

oo

l

ers

8% 28% 18% 26% 6%1%2%

3%

2%3% 4%

72 billion

6.2 20.6 11.3 12.4 3.10.7

0.91.5

1.32.72.3

FY2012 forecast63 billion

1.1 1.1

10% 34% 18% 20% 5%

1%

1%

1%

2%4% 4%

7.7 23.5 9.6 9.0 1.61.1

0.8

1.21.1

4.52.9

12% 37% 15% 14% 3%1% 2%5% 7%

FY201163 billion

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2% 2%

44-- 8. FY2013 prospects (by nationality8. FY2013 prospects (by nationality))

Ko

Japa

Ch

Euro

Am

e

Japanese 62% Non-Japanese 38%

(billion yen)

orean

anese

hinese

opean

North

erican

41 1 3 8 11 6 4 3 6 0

FY2013 prospect

72 0 billion

6％

41.1 3.8 11.6 4.3

62％ 17％ 6％ 9％

6.072.0 billionPCB 66.8billion)

43.2 0.4 7.2 2.7 4.5

FY2012 forecast

63.0 billion(PCB 58.0

b ll )74％ 12％ 5％ 8％1％

FY2011

billion)

47.0 2.02.0 4.6

85％ 4％ 4％ 8％

FY201163 billion(PCB 55.6

billion)

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http://www.meikohttp://www.meiko--elec.com/elec.com/

November 20 2012

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November 20, 2012