financial results of fy2020 ibiden co., ltd.(4062)

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Financial Results of FY2020

IBIDEN Co., Ltd.(4062)

April 28th , 2021


Forecasts in this statement have been made based on the premise,

prospect and plan of IBIDEN as of April 27th, 2021.

Actual results may widely differ from this statement due to any

uncertain factor such as international economy, market competition

and exchange fluctuation.


[Consolidated]

Results of FY2020


14.9

27.0 27.8

▲ 1.0

3.5 4.6

5.8

5.06.2

19.7

35.538.6

Results of Net Sales, Operating Income

and Net Income in FY2020

132.2167.0 166.1

88.4

85.0 87.4

75.4

68.0 70.0

296.0320.0 323.5

108 105 105 Exchange rate (USD)

120 120 121 Exchange rate (EUR)

6.7%

11.1%11.9%

[ +26%]

[ ▲1%]

[ ▲7%]

0

[ +87%]

[ +7%]

0

ResultForecast

Disclosed

on Feb 4Result

FY19 FY20

ResultForecast

Disclosed

on Feb 4Result

FY19 FY20

ResultForecast

Disclosed

on Feb 4Result

FY19 FY20

3.8%

7.5% 7.9%

11.3

24.025.7

[ ]

Net Sales (Unit: Billions of Yen)

Operating Income(Unit: Billions of Yen)

Net Income(Unit: Billions of Yen)

Electronics

Ceramics

Others

Electronics

Ceramics

Others

Move into

the black

OPM NPM

Compared to

the last year+9.3%

Compared to

the last year+96.3%

Compared to

the last year+127.0%

〔〕 shows %

compared to

the last year 〔〕 shows %

compared to

the last year


Market Forecast

and

Business Prospect


3%13%

18%5%

3.0

0

[Electronics]

Trend of Existing Market

CY19 CY20 CY21 CY22 CY23 CY24 CY25

(Unit: 100M Units)

■ PC Growth Rate

□Forecast Growth of PC Market due to Prevailing Remote Work and On-Line

Education in the World

based on data by outside

research companies


22%15%

4% 10%

50

0

[Electronics]

Trend of Data Center


(Unit: Billions of dollars)

■Data Center Growth Rate

based on data by outside

research companies

□Maintain High Level Growth by Continuous Digitization and Cloud System

in Business Activities


5%30% 42% 52%

5G4G

2.5

0

[Electronics]

Trend of High-end Smartphone


□Show Negative Trend Currently and Predict Prospect for Growth

in the Mid-and-Long Term Due to 5G Service Launch

(Unit: 100M Units) based on data by outside

research companies

■ 5G Ratio


0.0

2.0

4.0

6.0

0

50

100

150

CY2010 2020 2030

Gasoline

HV

PHEV

EV

Diesel

CY2010 2020 2030

[Ceramic]

Forecast for Automobile production

Environmentally

Compliant Vehicle

Non-

Environmentally

Compliant Vehicle

EMCON in

Emerging Countries

Passenger car Medium and Heavy Commercial Vehicle

(Unit: Million Unit) (Unit: Million Unit)

based on data by

outside research

companies

based on data by

outside research

companies

□ Passenger Car Market : Maintain a Given Number of Passenger Cars with Internal

Combustion Engines

□ Medium & Heavy Vehicle Market : Expand Market against the Background of

Emission Control in China and Emerging Countries


0.0

5.0

10.0

CY2015 20252020CY2015 20252020

[PC/LCV]

[ HD ]

*PC : Passenger Car

*LCV : Light Commercial Vehicle

*HD : Heavy Duty Car

[Ceramic]

Exhaust System Business

Emerging

Country

Developed

Country Europe

North

America

China

Others

[Existing]

[High function]

EMCON in China

Market of DPFSubstrate Holding Mat

for automobilesHD: Converted value

Passenger Car x about 3

EMCON in China

0.0

20.0

estimate based on

data of customers

estimate based on

data of customers

□ Maintain Optimum and Efficient Production System in Hungary-Mexico-Japan

Trilateral Framework along with Market Change

□ Establish IBIDEN Fine Ceramics Suzhou as Planned and Expect Increasing

Demand of HD & Catalyst Monolith Carrier Sealing Material

(Unit: Million Unit) (Unit: 1,000ton)


Electronics

Field

New

Field

・Next-Generation Substrate

・Equipment Component

・DX SPEC

・Carbon-Free

Technology

・GX SPEC

NEV

Field

・EV Component

[R&D] Target Field and Development concept

Intellectual

Property

StrategyManufacturing

Innovation

Marketing


[Consolidated]

Forecasts of FY2021


Forecasts of Net Sales, Operating Income

and Net Income in FY2021

132.2166.1

222.0

88.4

87.4

88.075.4

70.0

70.0

296.0323.5

380.0

108 105 105 Exchange rate (USD)

120 121 125 Exchange rate (EUR)

6.7%

11.9% 11.8%

0

[ 0%]

[ +1%]

[ +34%]

14.9

27.832.5

▲ 1.0

4.6

6.0

5.8

6.2

6.5

19.7

38.6

45.0

Result Result Forecast

FY19 FY20 FY21


FY19 FY20 FY21

11.3

25.729.0

3.8%

7.9% 7.6%


FY19 FY20 FY21

[ +17%]

[ +5%]

0

[ +30%]



Net Income(Unit: Billions of Yen)

Compared to

FY20 +17.5%

Compared to

FY20 +16.5%

Compared to

FY20 +12.8%

Electronics

Ceramics

Others

Electronics

Ceramics

Others

OPM NPM〔〕 shows %

compared to FY20

〔〕 shows %

compared to FY20


Medium-Term

Forecast


Capital investment has been planned to enhance the production capacity of

IC PKG substrates and meet the increasing demand for semiconductors

in the world’s market.

Image of new production building in Gama Plant

Announcement of Capital Investment Plan

for IC PKG Substrate

【Outline of capital investment】1. Objective: Enhancement of production capacity in high-performance IC PKG substrates

2. Amount : JPY180 billion (estimation basis)

3. Place : IBIDEN Gama Plant (3-200 Gama-cho, Ogaki-City, Gifu Pref.)

4. Start of production : To be first started within 2023, then shifted finally to high-volume manufacturing

5. Production capacity : Enhancement production capacity for demand of IC PKG substrates

expected to increase from FY2023

6. Three stages to start of production:

1st stage : Start of demolition of existing building, removing of facilities and equipment

(First half of FY2021)

2nd stage: Start of construction of new production building(Second half of FY2021)

3rd stage : Completion of new production building and start of high-volume manufacturing(FY2023)


Plan of Capital Expenditure and Depreciation

22.9

57.1

78.2

90.0

25.1 24.2

35.4

60.0

FY18 FY19 FY20 FY21 FY22 FY23

Result Forecast

9% 8%11%

16%

FY18 FY19 FY20 FY21 FY22 FY23

Result Forecast

Capital Expenditure (Unit: Billions of Yen)

Depreciation(Unit: Billions of Yen)

Ratio computed by

Depreciation/Consolidated net sales

Electronics

Ceramics

Others

Electronics

Ceramics

Others

[FY18~22]

・Disclosed on Oct 28

: JPY250.0 billion

[FY18~21]

・Disclosed on Apr 27

: JPY248.2 billion

[FY18~22]

・Disclosed on Oct 28

: JPY220.0 billion

[FY18~21]

・Disclosed on Apr 27

: JPY144.8 billion

□Make Positive Upfront Investment in Growing Market in Order to Allow Us

to Gain a Foothold for the Next Mid-Term Plan


Mid-Term Forecast

FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Result Forecast

2.5

14.9

27.832.5

44.0

3.0

▲ 1.0

4.6

6.0

9.0

4.6

5.8

6.2

6.5

7.0

10.1

19.7

38.6

45.0

60.03.5%

6.7%

11.9%11.8%

14.3%

116.0132.2

166.1

222.0255.0

102.588.4

87.4

88.0

90.0

72.7 75.4

70.0

70.0

75.0

291.1 296.0

323.5

380.0

420.0

45.0

FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

Result Forecast

400.0

360.0

38.5

Electronics

Ceramics

Others



Electronics

Ceramics

Others

OPM: disclosed business prospect


Return to

Shareholders


□Prioritize Ongoing Large-Scale Investment for IC Package Substrate from

Our Point of View of Capital Allocation

Return to Shareholders

FY18 FY19 FY20 FY21

15 15 15 15

20 20 20 20

35 35 35 35

(Plan)

Dividend per Share

(Unit: Yen)

Year-end

dividend

Interim

dividend


ESG Management

and DX/GX Promotion


ESG External Authentication

MSCI FTSE Russell

DX Promotion

DX

MSCI Inc. is a financial service provider in New York in the United States and is listed on the New York Stock Exchange. MSCI is a leading provider of investment decision support tools to institutional investors globally, including

large-scale public pension funds, asset managers, and hedge funds.

The Inclusion of IBIDEN Co., Ltd. in any MSCI index, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement of promotion of IBIDEN Co., Ltd. by MSCI or any of

its affiliates.

The MSCI indexes are the exclusive property of MSCI. MSCI and the MSCI index names and logos are trademarks or service marks of MSCI or its affiliates.

Selected for the Fourth

Consecutive Year after

The Launch of the Index

The Highest AAA in ESG

Rating at Seven Stages The Fifth

Consecutive Year

The Fourth

Consecutive Year

ESG External Authentication and DX Promotion

Prompt Decision-

Making by Paperless

Activity and RPA

Better Productivity and

Best Person for the Job by

Integrated Group System

Quality Improvement by

Digitized Production

Information

Optimum Production and

Combination

by AI


(kt-CO2)

666 560

455

▲ 455

-500

0

500

1,000

1,500

2017 2020 2030(Target)

2050(Target)

0

GX toward Carbon-Free Society

For Climate ChangeAugust, 20 Support the Recommendations of the

TCFD

March, 21 Disclose Reduction Goals toward Zero

Emission

Challenge Zero Emission

carbon offset

FY30

Cut Emission Intensity in Half

And Cut Total Emission by 16%

Compared to FY17

□ Compatible Business Growth and Emission

Reduction

・ Manufacturing Technology Innovation for

Energy Saving and Efficiency

・ In-Company Carbon Pricing

FY50Aim Zero-Emission in the Earliest

Level

□ Offset by Business Activity and R&D

・ Green Business and Recover & Immobilization

Technology

・ New Technology and Procurement for

Renewable Energy Technology

emission

reduction

deemed emission

increase by

business growth

financial results of fy2020 ibiden co., ltd.(4062)

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