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NIKON CORPORATION                                                                                 Corporate Communications...
Agenda  I.   Financial Results for the First Quarter       of the Year Ending March 31,2013  II. Estimation for the Year E...
Summary for the First Quarter of the Year EndingMarch 31, 2013    Overall sales up 6% and operating income down 37% on pr...
Financial Highlights for the First Quarter of the Year EndingMarch 31, 2013                                        12/3 1Q...
Precision Equipment Company                                  12/3 1Q                  13/3 1Q                 Change      ...
Precision Equipment Company            IC Steppers & Scanners                                        LCD Steppers & Scanne...
Imaging Company            Billions of yen          12/3 1Q              13/3 1Q                 Change           Cameras ...
Instruments Company                              12/3 1Q                    13/3 1Q                 Change         Billion...
Balance Sheet                   Assets                                                Liabilities & Equity                ...
Agenda  I.   Financial Results for the First Quarter       of the Year Ending March 31,2013  II. Estimation for the Year E...
Summary of Estimation for the Year EndingMarch 31, 2013 Change in the assumed exchange rate will downgrade the sales and ...
Estimation for the Year Ending March 31, 2013                         12/3              1H          Previous est.    1H   ...
Estimation for Precision Equipment Company                           12/3            1H     Previous est.    1H           ...
Estimation for Precision Equipment Company                       IC Steppers & Scanners                                   ...
Estimation for Imaging Company     Billions of yen      12/3         1H     Previous est.     1H                        1H...
Estimation for Instruments Company                                 12/3               1H                Previous est.   1H...
Estimation for Capital Expenditure, Depreciation and R&DBillions of yen   [Capital Expenditure & Depreciation]            ...
Agenda  I.   Financial Results for the First Quarter       of the Year Ending March 31,2013  II. Estimation for the Year E...
Exchange Rate  13/3  Estimation                                      Financial Impact from Fluctuation by                E...
Quarterly Net Sales by Segment     Billions of yen 300                                       7.1                          ...
Quarterly Operating Income by Segment         Billions of yen  50                                                         ...
08 31-12 nikon rd-q1_3_2
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08 31-12 nikon rd-q1_3_2

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Transcript of "08 31-12 nikon rd-q1_3_2"

  1. 1. NIKON CORPORATION Corporate Communications & IR Dept. Aug 8 ,2012Financial Results for the First Quarter ofthe Year Ending March 31, 2013 Audio Conference in Tokyo (Aug 8, 2012) NIKON CORPORATIONForward-looking statements for earnings and other performance data contained herein are based oninformation currently available to the Company, and all potential risks and uncertainties are taken intoaccount. The Company asks that investors understand that changes in conditions may cause actualperformance to significantly differ from these projections.
  2. 2. Agenda I. Financial Results for the First Quarter of the Year Ending March 31,2013 II. Estimation for the Year Ending March 31,2013 Ⅲ.Reference Data 2
  3. 3. Summary for the First Quarter of the Year EndingMarch 31, 2013 Overall sales up 6% and operating income down 37% on previous Q1.Precision Equipment Company- IC steppers/scanners sales volume decreased due to the market contraction. LCD steppers/scanners maintained the sales of over 20 units.- Sales decreased 15%; operating income saw a slight reduction.Imaging Company- Suspended production due to Thai floods recovered to the normal level, being able to respond to brisk demands for digital cameras ― interchangeable lens type and interchangeable lenses.- Sales improved 14%; operating income suffered 38% reduction due to strong yen and sales expenses hike.Instruments Company- Flat sales, but the deficit amount increased due to strong yen. 3
  4. 4. Financial Highlights for the First Quarter of the Year EndingMarch 31, 2013 12/3 1Q 13/3 1Q Change Billions of yen (A) (B) (B)-(A) Net Sales 245.5 259.4 +13.9 Operating Income 36.9 23.3 -13.6 % vs Net Sales 15.0% 9.0%Ordinary Income 37.7 23.4 -14.3 % vs Net Sales 15.4% 9.0% Net Income 30.6 15.7 -14.9 % vs Net Sales 12.5% 6.1% FCF 1.3 - 0.2 -1.5 Exchange Rate Impact on 82 yen 80yen US$ Net Sales: -12.4 EURO 117yen 103yen Op. Income: -4.7Sales improved 6%: however, the incomes deteriorated due to strong yen and increased salesexpenses.* Amounts in this statement are rounded down to the hundred million. 4
  5. 5. Precision Equipment Company 12/3 1Q 13/3 1Q Change Billions of yen (A) (B) (B)-(A) Net Sales 61.6 52.2 -9.4 Operating Income 10.6 10.2 -0.4 % vs Net Sales 17.2% 19.5% 11/7 units 6/3 units -5/ -4 units IC Steppers & Scanners New / Refurbished 24 units 22 units -2 units LCD Steppers & ScannersIC steppers/scanners started to enjoy the effect of the earning structure revamp of the previousyear, which was able to reduce the ArF immersion scanner production leadtime among otherbenefits. LCD steppers/scanner inked a favorable sales volume, mainly those for mid/smalls-sized panels.The Company overall maintained the high operating income ratio. 5
  6. 6. Precision Equipment Company IC Steppers & Scanners LCD Steppers & Scanners Units Sales by Technology Units Sales by Generation *Including refurbished systems 30 20 18 25 24 22 15 5 7G~ 5 0 20 4 10 9 15 8 18 5G/6G ArF 3 immersion 10 1 KrF 5 9 5 11 5 ⅰ-line 4 4G 0 0 12/3 1Q 13/3 1Q 12/3 1Q 13/3 1Q 6
  7. 7. Imaging Company Billions of yen 12/3 1Q 13/3 1Q Change Cameras & Lenses (1,000 of units sold) (A) (B) (B)-(A) Net Sales 167.0 190.1 +23.1 Operating Income 31.7 19.6 -12.1 % vs Net Sales 19.0% 10.3% 1,360 1,670 +310 Digital camera ―Interchangeable Lens Type Interchangeable Lenses 2,000 2,300 +300 Compact DSC 3,950 4,430 +480 Production that had been impaired by the Thai floods recovered to the normal capacity. Digital cameras ― interchangeable lens type and interchangeable lenses sold 23% and 15% more units respectively, and the compact DSC achieved 12% sales volume hike in spite of the shrinking market. The operating income went down, affected by the strong yen and sales expenses increase. 7
  8. 8. Instruments Company 12/3 1Q 13/3 1Q Change Billions of yen (A) (B) (B)-(A) Net Sales 11.1 10.8 -0.3Operating Income -1.9 -2.4 -0.5 % vs Net Sales -% -% In the strong yen environment, the sales amount maintained the level of previous year: but, the loss expanded. 8
  9. 9. Balance Sheet Assets Liabilities & Equity 60% Capital ratio Billions of yen 50% Billions of yen 51.1% 845.6 860.2 48.8% 50.3%900 842.0 860.2 900 845.6 842.0 40% 132.4 120.2 Cash & Time 176.1 Deposit Notes & accounts 137.5 132.0 Receivable-600 126.9 trade 432.7 426.6 411.4 Total 600 liabilities 263.0 274.5 Inventories 248.6300 76.6 61.8 Other 57.7 current 300 assets 433.6 430.6 Total 412.9 Net assets 236.3 250.7 253.5 Fixed assets 0 0 11/6 12/3 12/6 11/6 12/3 12/6 9
  10. 10. Agenda I. Financial Results for the First Quarter of the Year Ending March 31,2013 II. Estimation for the Year Ending March 31,2013 Ⅲ.Reference Data 10
  11. 11. Summary of Estimation for the Year EndingMarch 31, 2013 Change in the assumed exchange rate will downgrade the sales and incomes:but, the overall performance trend, sales/income increase, will not change.Precision Equipment CompanyThe number of IC and LCD steppers/scanners sold is expected to decrease on year due to themarket contraction. But, the newly launched IC stepper/scanner will secure the profitable 2ndhalf. The previous forecast is unchanged: year-on-year sales down 15% and income down41%.Imaging CompanySales volume forecast is unchanged: however, the assumed exchange rate change forcesdowngrading of both sales and operating income amounts. Both sales and income areexpected to improve 23% and 39% on year.Instruments CompanyIn emerging nations such as Asian countries, the bioscience field strives to expand the shareof biological microscopes for general research and clinical use, while the industrialinstruments field attempts to capture new demand from car industry, etc. The previousforecast is unchanged: sales is expected to grow 9% on year with reduced loss. The assumed exchange rate against Euro is changed from 105 yen to 100 yen. Estimated annual dividend per share: 41 yen (interim dividend 19 yen) 11
  12. 12. Estimation for the Year Ending March 31, 2013 12/3 1H Previous est. 1H New est. 1H Change Change 1H Actual (A) 2H (B) (May 10) 2H (C) 2H (C)-(A) (C)-(B) 2H Billions of yen 486.3 485.0 485.0 ±0 Net Sales 918.6 432.3 1,030.0 545.0 1,020.0 535.0 +101.4 -10.0 -10.0 Operating 80.0 61.1 90.0 35.0 85.0 34.0 -1.0 Income 18.9 55.0 51.0 +5.0 -5.0 -4.0 % vs Net Sales 8.7% 8.7% 8.3% Ordinary 89.3 65.1 94.0 38.0 90.0 37.0 -1.0 Income 24.2 56.0 53.0 +0.7 -4.0 -3.0 % vs Net Sales 9.7% 9.1% 8.8% 59.3 50.4 65.0 29.0 60.0 27.0 -2.0 Net Income 8.9 36.0 33.0 +0.7 -5.0 -3.0 % vs Net Sales 6.5% 6.3% 5.9% FCF -34.0 30.0 30.0 +64.0 ±0 ― 80yen 80yen Exchange 79yen 78yen 80yen 80yen 80yen Rate US$ 109yen 114 yen 105yen 101yen 101 yen EURO 104yen 100yenAlthough economy slowdown is concerned in various regions, the sales volume forecast of eachCompany is not changed. As the assumed exchange rate against Euro is changed, the yearly salesand income amounts are downgraded.The previous estimation is as of May 10, 2012. 12
  13. 13. Estimation for Precision Equipment Company 12/3 1H Previous est. 1H 1H (May 10) New est. Billions of yen Actual 2H 2H 2H 124.8 85.0 85.0 Net Sales 248.1 123.3 210.0 125.0 210.0 125.0 Operating Income 42.7 23.2 25.0 6.0 25.0 6.0 17.2% 19.5 11.9% 19.0 11.9% 19.0 % vs Net Sales IC Steppers & 26/16 12/ 9 12/ 9 Scanners 55/29units 46/20units 46/20units New / Refurbished 29/13 34/11 34/11 LCD 48 28 28 86units 42units 42unitsSteppers & Scanners 38 14 14IC Steppers &ScannersMarket Scale CY11/12 311units Approx. 240units Approx. 240units LCD Steppers & Scanners 109units Approx. 60units Approx. 60unitsMarket Scale CY11/12 In IC stepper/scanner division, sales of new products, ArF immersion scanner S621D and ArF scanner S320F, will be fully materialized in the 2nd half, making a good start for further expansion in the following year. LCD stepper/scanner is to maintain steady sales of Gen. 5/6 machines for high-precision mid/small-sized panel application. 13
  14. 14. Estimation for Precision Equipment Company IC Steppers & Scanners LCD Steppers & ScannersUnits Sales by Technology Units Sales by Generation *Including refurbished systems 90 84 90 86 80 80 18 17 70 66 66 70 3 60 ArF 60 20 20 Immersion 50 32 28 50 42 42 40 10 10 ArF 40 2 2 7G~ 30 9 9 KrF 30 20 34 34 5G/6G 20 35 37 27 27 i-line 10 10 4G 0 6 6 1 2 / 3 Ac t u al Pr e vio u s e st . Ne w e st . 0 1 2 / 3 Ac t u al Pr e vio u s e st . Ne w e st . 14
  15. 15. Estimation for Imaging Company Billions of yen 12/3 1H Previous est. 1H 1HCameras & Lenses New est.(1,000 of units sold) Actual 2H (May 10) 2H 2H 360.0Net Sales 587.1 324.5 730.0 360.0 720.0 360.0 262.6 370.0Operating Income 53.9 47.4 80.0 38.0 75.0 37.0 % vs Net Sales 9.2% 6.5 11.0% 42.0 10.4% 38.0Digital camera ― 3,400Interchangeable 4,740 2,730 7,000 3,400 7,000 3,600 Lens Type 2,010 3,600Interchangeable 4,900 4,900 Lens 7,130 3,930 10,000 10,000 5,100 3,200 5,100 7,860 8,400 8,400Compact DSC 17,370 9,510 18,000 9,600 18,000 9,600 D-CIL Market Scale 16,330 19,000 19,000 IL Market Scale 26,410 31,000 31,000 C-DSC Market Scale 99,330 95,000 95,000In the yearly forecasts, the sales volume is unchanged while the sales and operating income aredowngraded due to a change in the assumed exchange rate. 15
  16. 16. Estimation for Instruments Company 12/3 1H Previous est. 1H 1H (May 10) New est. Billions of yen Actual 2H 2H 2H 24.6 24.0 24.0 Net Sales 56.0 31.4 61.0 37.0 61.0 37.0 Operating Income -3.1 -2.3 -1.0 -2.5 -1.0 -2.5 -0.8 1.5 1.5 % vs Net Sales -% -% -% Non-contact 3D metrology tools and X-ray inspection systems of Nikon Metrology are regarded as potential products for midterm growth. Development and salesBillions of yen promotion are scheduled this year for future income expansion. Sales is expected to 75 rise 9% with reduced loss. 60 Industrial instruments 45 53% 51% 53% 30 15 47% 49% 47% Bioscience 0 12 / 3 Ac tu al Pre vious e st. Ne w e st. 16
  17. 17. Estimation for Capital Expenditure, Depreciation and R&DBillions of yen [Capital Expenditure & Depreciation] Billions of yen [R&D]70 Capital Expenditure 80 77.0 10.0% 65.0 R&D Depreciation Ratio of R&D Investment for equipment 70 68.760 replacement and building 55.9 repair due to Thai floods: 61.4 60.2 60.7 9.0% 13B yen for FY12/3 13B yen for FY13/3(est.) 6050 43.4 5040 8.0% 37.5 29.7 4030 42.0 7.7 % 7.5 % 7.5 % 7.0% 30 32.9 35.9 34.0 7.0 % 32.5 6.8 %20 20 6.0%10 10 0 0 5.0% 09/3 10/3 11/3 12/3 13/3 09/3 10/3 11/3 12/3 13/3 Est. Est. * After 09/3 : Include the amount of acquisition of Lease asset by change of Accounting Standard for Lease Transactions 17
  18. 18. Agenda I. Financial Results for the First Quarter of the Year Ending March 31,2013 II. Estimation for the Year Ending March 31,2013 Ⅲ.Reference Data 18
  19. 19. Exchange Rate 13/3 Estimation Financial Impact from Fluctuation by Exchange Rate 1 yen 13/3 Net Sales Operating Income Forecast for 2Q-4Q 2Q-4Q 2Q-4Q Approx.0.5 billion US $ 80yen Approx.5.0 billion yen yen Approx.1.1 billion EURO 100yen Approx.1.8 billion yen yen 19
  20. 20. Quarterly Net Sales by Segment Billions of yen 300 7.1 6.1 5.7 6.6 6.6 10.8 13.0 11.1 13.4 5.7 9.2 5.2 20.2 52.2 200 6.0 61.4 61.6 13.2 18.1 10.9 63.1 13.2 66.4 40.2 58.8 40.4 64.4 100 190.1 172.1 167.0 157.4 148.7 133.0 142.3 137.4 125.1 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 11/3 12/3 13/3 Imaging Company Precision Equipment Company Instruments Company Other Business* Amounts in this statement are rounded down to the hundred million: the sum of breakdown values may not match the total. 20
  21. 21. Quarterly Operating Income by Segment Billions of yen 50 0.3 40 10.6 0.9 30 0.7 1.2 10.2 1.1 0.5 12.6 20 3.3 0.7 4.1 31.7 2.2 0.8 0.3 10 1.1 19.6 13.9 15.6 14.3 15.6 8.8 10.5 8.3 3.7 2.7 0 -0.6 -0.4 -2.4 -2.5 -4.1 -1.6 -1.9 -1.0 -5.2 -1.5 -4.4 -5.0 -4.3 -4.3-10-20 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 11/3 12/3 13/3 Imagin g Compan y Pre c ision Equ ipmen t Company In stru me n ts Compan y Oth e r Bu sin e ss Corporate Expe n se s* Amounts in this statement are rounded down to the hundred million: the sum of breakdown values may not match the total. 21
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