results briefing fy2013 2q - alps · ・ethernet avb module ・bluetooth/wifi protocol...
TRANSCRIPT
COPYRIGHT(C)2013 ALPS ELECTRIC CO.,LTD. ALL RIGHT RESERVED.
Securities Code: 6770
Results Briefing FY2013 2QThursday, October 31, 2013
1
■ FY2013 2Q Consolidated Financial Results P. 2 - 7
■ FY2013 Consolidated Financial Results Forecast P. 8 - 11
■ Progress of Priority Areas of the 7th Mid-termBusiness Plan P. 12 - 18
Contents
NB: Here and subsequently amounts have been rounded down to the nearest ¥100 million.NB: Breakdown of sales shows composition, breakdown of operating income shows operating margin, and differences show rates of change.
[Consolidated][Unit: ¥ billion]
2
1. Summary of Financial Results
[Consolidated][Unit: ¥ billion]
3
2. Net Sales and Operating Income: Quarterly Change
Change in Quarterly Net Sales
Change in Quarterly Operating Income
1. Electronic Components Segment
¥162.1 billion (up 22.7% year on year)Net sales (the first half)
Operating income (the first half)¥5.0 billion (up ¥5.8 billion year on year)
■Operating income
Automotive market: ¥76.7 billion (up 12.1%)Focused on development and rollout of original products. Sales of products such as sensors, instrument panels, door modules and communications modules posted a solid growth.Consumer market: ¥85.3 billion (up 33.9%)Sales of component products such as camera actuators, switches and touch panels for smartphones expanded.
Operating margin: 3.1%Income improved due to an increase in sales of such products as camera actuators and switches for smartphones.
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■Operating income
3. Change in Breakdown of Sales by Business Segment
[Unit: ¥ billion]
■Net sales
2. Automotive Infotainment Segment
3. Change in Breakdown of Sales by Business Segment
[Unit: ¥ billion]
■Net salesNet sales (the first half)
Operating income (the first half)
¥136.1 billion (up 32.3% year on year)Sales of new cars in the North American and Chinese markets were strong, leading to sales growth in genuine products for automakers.
¥3.7 billion (up 225.1% year on year)Operating margin: 2.8%The sales composition of commercial products for markets and genuine products for automakers changed.
5
■Operating income
6
USD EUR
Net sales
Operating income
Consolidated
0.29
0.06
0.04
0.01
Net sales
Operating income
Electroniccomponents
segment
0.19
0.05
0.02
0.01
4. Amount of Effect from Exchange Rates
[Unit: ¥ billion/month/per ¥1]
NB: The above amounts for the USD effect include other currencies linked to theUSD (eg.: HKD, CNY).
Inventories¥77.7 billion (up ¥3.3 billion year on year)
Electronic components segment: up ¥1.6 billion (includes ¥1.4 billion in exchange rate effect)Automotive infotainment segment: up ¥1.6 billion (includes ¥1.5 billion in exchange rate effect)
Tangible fixed assets¥132.4 billion (up ¥3.2 billion year on year)
Electronic components segment: up ¥2.2 billion (includes ¥1.9 billion in exchange rate effect)Automotive infotainment segment: up ¥1.5 billion (includes ¥0.7 billion in exchange rate effect)
Interest-bearing debt¥116.7 billion (down ¥7.7 billion year on year)
Electronic components segment: repayment of borrowings under commitment lineAutomotive infotainment segment: repayment of short-term loans payable
7
5. Summary of Balance Sheet
[Consolidated][Unit: ¥ billion]
FY2013 Consolidated Financial Results Forecast
9
[Consolidated]
1. FY2013 Financial Results Forecast
[Unit: ¥ billion]
NB: Here and subsequently amounts have been rounded down to the nearest ¥100 million.NB: Breakdown of sales shows composition, breakdown of operating income shows operating margin, and differences show rates of change.
% % % % % %
546.4 100.0% 328.2 100.0% 319.7 100.0% 648.0 100.0% 101.6 18.6% -8.5 -2.6%
268.0 49.1% 162.1 49.4% 157.8 49.4% 320.0 49.4% 52.0 19.4% -4.3 -2.7%
Automotive market 140.0 25.6% 76.7 23.4% 92.2 28.9% 169.0 26.1% 29.0 20.7% 15.5 20.2%
Consumer market 128.0 23.5% 85.3 26.0% 65.6 20.5% 151.0 23.3% 23.0 18.0% -19.7 -23.1%
219.8 40.2% 136.1 41.5% 130.8 40.9% 267.0 41.2% 47.2 21.5% -5.3 -3.9%
48.5 8.9% 25.1 7.6% 25.8 8.1% 51.0 7.9% 2.5 5.2% 0.7 2.8%
9.9 1.8% 4.8 1.5% 5.1 1.6% 10.0 1.5% 0.1 1.0% 0.3 6.3%
6.8 1.3% 11.1 3.4% 12.8 4.0% 24.0 3.7% 17.2 250.3% 1.7 15.3%
0.2 0.1% 5.0 3.1% 7.4 4.7% 12.5 3.9% 12.3 ‐ 2.4 48.0%
2.3 1.1% 3.7 2.8% 3.2 2.4% 7.0 2.6% 4.7 204.3% -0.5 -13.5%
3.5 7.4% 1.8 7.4% 1.9 7.4% 3.7 7.3% 0.2 5.7% 0.1 5.6%
0.4 4.2% 0.1 3.7% 0.2 3.9% 0.4 4.0% 0.0 ‐ 0.1 10.0%
Eliminations 0.2 0.2 0.0% 0.1 0.0% 0.4 0.0% 0.2 0.0% -0.1 -5.0%
7.6 1.4% 10.7 3.3% 11.7 3.7% 22.5 3.5% 14.9 193.8% 1.0 9.3%
-7.0 -1.3% 5.3 1.6% 5.6 1.8% 11.0 1.7% 18.0 ‐ 0.3 5.7%
Differencevs. FY2013 1H
USD/JPY 83.10 98.85 95.00 96.92
Electronic Components
Net IncomeOrdinary Income
Others
Automotive InfotainmentLogistics
Others
Automotive Infotainment
Differencevs. FY20122H
Forecast
FY2013FY2013Forecast
1HResults
Net Sales
FY2012Results
Operating IncomeElectronic Components
Logistics
127.50EUR/JPY 107.14 130.00 125.00
10
2. Net Sales and Operating Income Forecasts by Business
[Unit: ¥ billion]1. Electronic Components Segment■Net sales
■Operating income
Net sales
Operating income
¥320.0 billion (up 19.4% year on year)
¥12.5 billion (up ¥12.3 billion year on year)Operating margin: 3.9%Income will be improved due to an increase in sales of such products as camera actuators and switches for smartphones.
Automotive market: ¥169.0 billion (up 20.7%)By focusing on development and rollout of original products, sales of products such as sensors, instrument panels, door modules and communications modules are expected to expand.Consumer market: ¥151.0 billion (up 18.0%)Sales of component products such as camera actuators, switches and touch panels for smartphones are expected to expand.
11
2. Net Sales and Operating Income Forecasts by Business
[Unit: ¥ billion]2. Automotive Infotainment Segment
■Operating income
■Net salesNet sales
Operating income
¥267.0 billion (up 21.5% year on year)
¥7.0 billion (up 204.3% year on year)Operating margin: 2.6%Sales of genuine products for automakers to total sales will increase.
Sales of new cars in the overseas markets will be strong, leading to sales growth in genuine products for automakers.
Progress of the 7th Mid-Term Business Plan
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Targets Strategies
1
2
3
4
5
1. Promote customer-targeted marketing strategies2. Expand market share of existing products3. Create new products
1. Establish environment / energy business2. Accelerate healthcare business
1. Expand sales to leading smartphone manufacturers2. Boost promotion of sales to Chinese and
Taiwanese manufacturers
Global personnel reduction of 3,000- Mar. 31, 2013: reduction of 1,000 personnel completed- Sep. 30, 2013: reduction of 1,000 personnel planned- Mar. 31, 2014: reduction of 1,000 personnel planned
Rationalization of fixed costs
1. Deepen the human-machine interface2. Increase variety of sensors3. Expand businesses based on connectivity
Achieve ¥200 billion in salesto the automotive market
Strengthen coretechnology and productcapabilities
Achieve ¥100 billion insales for smartphones
Establish businessin new markets
[Electronic Components Segment]
1. Progress of Priority Areas of the 7th Mid-Term Business Plan
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2. Achieve ¥200 Billion in Sales to the Automotive Market
Ensure Net Sales of ¥200 Billion Toward Further Expansion
Next-Generation Product Proposals
CEATEC JAPAN 2013Proposal of next-generation input device “Epistemic Cockpit” for automotive use
<Eyeline detection/Anticipation of next move>Detect the driver's eyeline and anticipate the driver's next move to help operate touch screen and gesture input<Connectivity/Contactless power supply>Proposal of easier and smoother connection between car and portable devices, enabling pairing with smartphonesby NFC and wireless power supply, etc.<Compact shifter>Proposal of new car interior design made possible with development of smaller shifter
Development of New Products
Global Response Capabilities(Japan/Europe/the U.S. + Emerging Countries)
・Alps Electric KoreaR&D Center construction completed R&D relating to automotive and consumer equipment・Alcom Electronicos De MexicoConstruct new building Respond to expansion in North American automotive market・Office opened in Jakarta, IndonesiaEnhance support for 2-wheel and 4-wheel vehicle manufacturers・Alps Electric (India)Local production of in-car products planned
Head-Up Display Electronic Shifter Electronic Parking Brake
Bluetooth® SMART ModuleW-LAN + Bluetooth® Module Steering Angle Sensor
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2. Achieve ¥200 Billion in Sales to the Automotive Market
3 to 4G Line・LTE(Long Term Evolution) ・V2X(802.11p) ・GPS/Glonass receiver ・Remote Tuner(TUSDR) ・Automotive integrated antenna ・Whitespace Radio(802.11af)
・BT/BTLE/WLAN/NFC + Smartphone Link (Mirror Link/Mirracast)
・Connectivity Box ・Ethernet AVB module
・Bluetooth/WiFi protocol・Smartphone link (Mirrorlink, Miracast, etc.)・GPS/GNSS location service ・LTE, V2X (802.11p)
eCall, response to regulation on robbery tracking
・Linux OS
Development into Genivi, QNX
・High-frequency wave, EMC lab, antenna design CAE environment ・BT/WiFi cross connectivity verification system ・Hands free acoustic evaluation facilities + sound control technology ・Projected image (TV) and audios (FM/AM) evaluation technology ・High-frequency wave resin seal and WLCSP high-density mounting technology
Inside-Car Communication Devices Business
Outside-Car Communication Devices Business
Automotive SoCReference Design
Broaden a market andhave widened customers
V2I
V2V
cloudMulti Satellite
Tuner, M2M(Sub Giga)Equipment for consumers
and industries
Software IPSystems + Evaluation Technology Assets
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3. Achieve ¥100 Billion in Sales for Smartphones
・Development of actuators for new-type camerasActuators for next-generation smartphones
・Development of new-type sensorsDevelop smart sensors, augment sensor variety
・Touch panel solutions meeting customer needsRealize thin touch panels through F2/F1 appeal
Expand Sales to Leading Smartphone Manufacturers and Boost Promotion of Sales in China
Strengthen partnership with Qualtré, Inc. in the U.S.The commercialization of new products fusing Qualtré'stechnology and the Company's packaging technology will allow the addition of inertial sensors, such as gyroscopes and acceleration sensors, to the product lineup and provide further impetus for development activities.
Business alliance with mCube in the U.S.Developed a 6-axis sensor integrating the Company's geomagnetic sensor and mCube's acceleration sensor. Mass production began in October 2013 to launch sales through mCube.
Expand Sales to Leading Smartphone Manufacturers
Promotion of Sales to Chinese and Taiwanese Smartphone Manufacturers
Enhance development of sensors
Adoption by Chinese
manufacturers
Adoption by Chinese and Taiwanese
manufacturers
Adoption by Taiwanese
manufacturers
Camera Actuators Sensors Touch Panels
Customer targeted distributors
Reference registration activity
Switches
Connectors
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4. Establish Business in New Markets
Accelerate energy saving business
Establish Environment / Energy Business
Current sensorsAlps Green Devices Co. began in earnest with development of really small, light and high-precision current sensors.Augmenting variety including board mounting type smallest and lightest in the industry and type compatible with large current
CEATEC JAPAN 2013Alps Green Devices developed a current sensor and DC–DC converter using Liqualloy™ Reactors.Won Semi-Grand Prix of CEATEC AWARD in Core Technology Category
Business collaboration of the Coil BusinessALPS Green Devices Co., Ltd. and Toho Zinc Co., Ltd. went into partnership.1. Joint development of Liqualloy™-applied products (core, inductor and reactors)2. Reciprocal sales of Takron Coil and Liqualloy™ products
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5. Rationalization of Fixed Costs
Personnel Reduction (compared to December 2012)
As of September 30, 2013Considerable impact of global personnel reduction of 3,000 achieved
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The business results forecasts and future predictions included in these materials are based on the judgment of the Company at the time of preparation of the materials, and are inherently subject to risks and uncertainties. As a result, actual business results and outcomes may differ significantly due to a variety of factors.
Consolidated Financilal Results FY2013 2Q (April 2013 - September 2013)
Basic Data
October 2013
Alps Electric Co., Ltd.
1.Outline (Unit:100 million Yen)
1Q 2Q 3Q 4Q Total 1Q 2Q 2Q Half Total
Net Sales 1,331 1,312 1,367 1,452 5,464 1,557 1,724 3,282 6,480Domestic 343 315 309 294 1,262 287 332 619 -Overseas 988 997 1,058 1,157 4,202 1,270 1,392 2,662 -
Operating Income 4 23 25 14 68 31 79 111 240Ordinary Income △3 20 34 25 76 29 78 107 225Net Income △24 △2 △12 △31 △70 △2 55 53 110
2.Net Sales (by segments) (Unit:100 million Yen)
1Q 2Q 3Q 4Q Total 1Q 2Q 2Q Half Total
Electronic Components 640 681 684 674 2,680 736 884 1,621 3,200
Automotive market 355 329 328 387 1,400 400 366 767 1,690
Consumer market 284 352 356 287 1,280 335 518 853 1,510
Automotive Infotainment 545 483 532 637 2,198 673 687 1,361 2,670
Logistics 121 122 125 116 485 123 128 251 510
Others 24 25 25 24 99 24 24 48 100
Total 1,331 1,312 1,367 1,452 5,464 1,557 1,724 3,282 6,480
3.Operating Income (Unit:100 million Yen)
1Q 2Q 3Q 4Q Total 1Q 2Q 2Q Half Total
Electronic Components △23 15 7 3 2 6 44 50 125Automotive Infotainment 13 △2 5 5 23 14 23 37 70Logistics 11 7 11 5 35 9 8 18 37Others 1 1 2 △1 4 0 1 1 4Eliminations 1 1 △1 0 2 0 1 2 4Total 4 23 25 14 68 31 79 111 240
4.Capital Expenditures (Unit:100 million Yen)
1Q 2Q 3Q 4Q Total 1Q 2Q 2Q Half Total
Electronic Components 78 67 50 42 238 41 39 81 169Automotive Infotainment 16 18 13 17 67 15 22 38 75Logistics 3 5 4 2 16 3 4 7 11Others 2 1 1 1 6 1 1 2 10Eliminations △1 △0 △0 △7 △9 △1 △0 △1 △1Total 100 92 69 55 318 59 68 128 265(Ref.) Estimate booked on the basis of order forecast including lease.
5.Depreciation Expenses (Unit:100 million Yen)
1Q 2Q 3Q 4Q Total 1Q 2Q 2Q Half Total
Electronic Components 30 32 35 30 130 38 39 78 158Automotive Infotainment 14 14 15 16 61 14 14 29 54Logistics 4 4 4 5 19 4 4 9 19Others 1 1 1 1 5 1 1 2 10Eliminations △0 △0 △0 △0 △0 △0 △0 △0 △0Total 50 53 57 53 215 58 60 118 242
6.R & D Expenses (Unit:100 million Yen)
1Q 2Q 3Q 4Q Total 1Q 2Q 2Q Half Total
Electronic Components 33 27 27 28 117 33 34 67 134Automotive Infotainment 40 45 39 43 168 44 48 93 188Logistics - - - - - - - - -Others 0 0 0 0 0 0 0 0 0Total 73 73 67 72 286 77 83 160 322
7.Inventories (Unit:100 million Yen)2012/6 2012/9 2012/12 2013/3 2013/6 2012/9
Electronic Components 419 407 437 439 500 456Automotive Infotainment 288 326 346 293 300 309Logistics 12 10 8 10 10 11Others 0 0 1 0 1 0Eliminations △0 △0 △1 △0 △0 △0Total 720 745 792 743 811 777
8.Employees (Unit:Person)2012/6 2012/9 2012/12 2013/3 2013/6 2012/9
Electronic Components 20,059 20,060 19,629 19,600 19,797 19,756Automotive Infotainment 11,194 11,241 11,141 11,107 11,368 11,400Logistics 4,600 4,626 4,714 4,683 4,721 4,751Others 809 808 812 809 824 819Total 36,662 36,735 36,296 36,199 36,710 36,726(Non Consolidated) 5,615 5,548 5,533 5,471 5,567 5,515(Ref.) All figures exclude temporary employees.
FY2013
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FY2012
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FY2012
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FY2013FY2012
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