fy2012 full year forecast - topcon · keep launching world’s first and world’s no.1 products by...

©2012 Topcon Corporation From Reform To Enhancement

FY2012 Full Year Forecast

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©2012 Topcon Corporation From Reform To Enhancement 13

We revised assumed exchange rate ¥80/US$ ･ ¥110/EUR ¥75/US$ ･ ¥95/EUR

２． Revision of exchange rate and our action

３． Launching of new strategic products

We are considering sovereign risk in Europe and country risk in China

Acceleration of Reform Plan

Strategies for 2H <To achieve our mid-term plan :ROE 20%>

１．Change of market conditions


2,529 2,324

1,885 1,800 1,650 1,650

205 439

Original Plan 85

FY2012 235 personnel will be reduced

Plan will be completed 2 years earlier

than it was scheduled

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Acceleration of Reform Plan <Early reduction of domestic personnel>

FY2009 Actual

FY2010 Actual

FY2011 Actual

FY2012 Forecast Plan

FY2014 Midterm

Business Plan


Integrate domestic plants by the end of FY2012 2H

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Complete by the end of FY2014 Complete by the end of FY2012 Mid-term Business Plan 2014

Impacts We estimate extraordinary losses for FY2012 2H, but profits we make after FY2012 will offset the exchange loss in this fiscal year.

FY2012 ： extraordinary losses ¥(1.0) billion From FY2013 ： operating income ¥ 2.0 billion

Cost for personnel reduction : ¥1.5 billion Running cost : ¥0.5 billion

Details of the plan <Details of personnel reduction plan>

５Places

３ Places


Product Launch <New products>

Company (New) Main Products Sales Composition Ratio to

Strategic Product Sales (%) FY2012 1H (Actual) FY2012 2H (Forecast)

Smart Infrastructure

Total Station (cloud compatible) 3D Measurement Laser Equipment

Total Station (low price) Total Station (motor drive)

Positioning

GPS Receiver Software for GPS (cloud compatible) GNSS board

Auto Steering Systems for Agriculture OEM (for construction and agriculture )

Eye Care

High-end OCT Slit Lamp Refraction Equipment

Affordable Model of OCT Pascal (new line-up) Specular Microscope Basic RM/KR (common platform) Optical Biometer

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*OCT…Optical Coherence Tomography

*

World’s First

World’s Smallest and Lightest

Industry's First

World’s Smallest

World’s First

World’s Lightest

World’s First World’s First


Product Launch (Plan for FY2012)

(models)

Company

FY2012 FY2012-FY2014

Plan 1Q Actual

2Q Actual

2H Plan

Full-year Plan

Smart Infrastructure 2 2 2 6 18 Positioning 3 3 2 8 23

Eye Care 0 5 6 11 17 Total 5 10 10 25 58

Product Launch <New products>

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[Consolidated] FY2011 FY2012

Full Year Full Year July 31,2012

Actual Revised Forecast YoY(%) Original Forecast

Net Sales 98,834 98,000 99% 108,000

Operating Income (Operating Income Ratio)

2,080 （2.1%）

5,000 （5.1%）

240% 8,000 （7.4%）

Ordinary Income 467 3,200 685% 6,800

Net Income △3,686 500 3,000

ROE △10.6％ 1.6％ 8.8％

ROIC 1.6％ 4.5％ 6.8％

Dividends ¥4 ¥6 ¥6

Average Exchange

Rate

US$ ¥79.30 ¥77.38 ¥80

EUR ¥110.17 ¥98.30 ¥110

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(million yen)

Full Year Business Forecast

Assumed exchange rate for FY2012 2H is ¥75/US$, ¥95/EUR * After extraordinary Income reduced 4.6％

*


Reasons for revision of assumed exchange rate

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Reasons for revision Amount of change

Revision of assumed exchange rate ¥(4.0) billion

Risks for sluggish economy in Europe and China ¥(6.0) billion

Total ¥(10.0) billion

Reasons for revision Amount of change

Revision of assumed exchange rate ¥(2.0) billion

Risks for sluggish economy in Europe and China ¥(1.0) billion

Total ¥(3.0) billion

★Net Sales

★Operating Income

Considering over following risks, we set conservative targets

We will implement Reform Plan in Europe and China for further profit improvement

(YoY)


［Consolidated］ FY2011 FY2012

Full Year Full Year July 31, 2012

Actual Revised forecast YoY(%) Original Forecast

Net Sales

Smart Infrastructure 19,656 21,000 107% 25,000

Positioning 33,000 33,000 100% 37,000

Eye Care 32,598 33,000 101% 35,000

Others 13,579 11,000 81% 11,000

Total 98,834 98,000 99% 108,000

Operating Income （Operating Income

Ratio）

Smart Infrastructure 975 （5.0%）

1,600 （7.6%）

164% 2,500 （10.0%）

Positioning 508 （1.5%）

1,400 （4.2%）

276% 2,500 （6.8%）

Eye Care 1,766 （5.4%）

2,000 （6.1%）

113% 3,000 （8.6%）

Others (1,168) （ △8.6%）

0 （0%）

-% 0 （0%）

Total 2,080 （2.1%）

5,000 （5.1%）

240% 8,000 （7.4%）

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(million yen)

Business Forecast by Company


5.0

2.9

0.6

(1.1)

3.3

1.7

(1.6)

2.1

COGSReduction

ExchangeFluctuation

Fixed-costReduction

Results forFY2011

Changein Sales

SalesPrice Down

Forecast forFY2012

Total Amountof Gain

and LossesFactors

(billion yen)

(codes are based on gain and loss)

[Consolidated] FY2011Actual Results

FY2012Forecast

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After revision of forecasts

Analysis of Gain and Loss in Operating Income (YoY)


1. Smart Infrastructure - Strategy for Emerging Market

Road &Railroad: 15 Tri. Yen Housing: 2.3 Tri. Yen

Housing & Road: 14 Tri. Yen

★World’s Lightest Motor-driven Total Station

★Low-end Total Station

Strategy of Companies in 2H

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Targeting Emerging Countries where infrastructure spending is rapidly growing

New Products

New New


1. Smart Infrastructure – Products: Cloud Service

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TSshield: World’s First Cloud Service for Total Stations (Already on sale)

New


2. Positioning – Strategy: Structural Reform


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“Reform 15” - Accelerate Reform Plan in POC

Target: Operating Profit 15% in FY2015

-20%

-10%

0%

10%

20%

2015201420132012201120102009200820072006

15%


2. Positioning – Enhance Products: Unrivaled Products

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Introducing World’s Smallest and Lightest GPS Receivers Lighten users’ workload for easier and faster survey jobs!

New

Launch New Strategic Product

World’s Smallest & Lightest GPS Receiver “HiPer SR” (Released in Sept.)


2. Positioning – Enhance Products: Lead the Innovation

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Introducing World’s Smallest Precision GPS chip Less than quarter size of existing products, best processing speed and least power consumption (Released in Sept.)

New


2. Positioning - Enhance Products: Distinguishing Products

FY2007 08 09 10 11 12 Plan

Precision Ag Sales

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Gaining market shares of Precision Ag with new product

Introducing World’s smallest Auto-steering System (Easier installation even for small tractors)

New


Strategy of Companies in 2H 3. Eye Care – Business Strategy

Launch Strategic Products

New Development in Vision Care Business

Sales Strategy

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©2012 Topcon Corporation From Reform To Enhancement 29

3. Eye Care – Enhance Products: Taking OCT Market


Hospital

Private MD

Optometrist Low-end World’s First fully-automated

image acquisition OCT for private clinic & OD

Hospital

Researcher

Screening market

High-end DRI OCT-1 Atlantis

Launch World’s First Deep Range Imaging OCT (High-end)

OCT-New

World’s First deep range imaging OCT for

researchers & specialists (Released in Aug)

Full Line-up

3D OCT-2000 (Current model)

Launch World’s First Fully-automated Image Acquisition OCT (Low-end)


3. Eye Care – Enhance Products: Improve Line-up


Introducing new line-up for World’s First Pattern Laser Equipment PASCAL

Hospital

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PASCAL Streamline (Already in market) New PASCAL (Attachment Type)

New

+ 20% Cost Reduction!


3. Eye Care – Enhance Products: Common Platform

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Common platform to enable large cost reduction

25% Cost Reduction!

Common Platform


3. Eye Care - Structural Reform

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Vision Care Business in Japan

Establish “Topcon Vision Care Japan Co., Ltd.” on November 1. - Targeting Speedy Management by Corporate Split


Summary <To achieve our business plan for FY2012…>

We will strive to increase the corporate value to reach the target of ROE20% by the final year 2014 of Mid-term business plan.

Enhance our profitability Speedy execution !

Keep launching World’s first and World’s No.1 products by Topcon’s competitive global operation.

Execute the strategies of Mid-term business plan two years ahead of schedule to secure our profit of the final year of the Mid-term Plan (2014).

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fy2012 full year forecast - topcon · keep launching world’s first and world’s no.1 products by...

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