Advantest e fy13_20130725_slide

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Advantest e fy13_20130725_slide

  1. 1. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 1 All Rights Reserved - Advantest Corporation July 25, 2013 Advantest Corporation Information Meeting 2013/7/25All Rights Reserved - Advantest Corporation NOTE ・Prepared in accordance with US GAAP ・Cautionary Statement with Respect to Forward-Looking Statements This presentation contains “forward-looking statements” that are based on Advantest's current expectations, estimates and projections. These statements include, among other things, a discussion of Advantest’s business strategy, outlook and expectations as to market and business developments, production and capacity plans. These forward-looking statements can be identified by use of forward-looking terminology are subject to known and unknown risks, uncertainties and other factors that may cause Advantest’s actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These factors include: (i) changes in demand for the products and services produced and offered by Advantest’s customers, including semiconductors, communications services and electronic goods; (ii) circumstances relating to Advantest’s investment in technology, including its ability to develop in a timely fashion products that meet the changing needs of semiconductor manufacturers and communications network equipment and component makers and service providers; (iii) significant changes in the competitive environment in the major markets where Advantest purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold; and (iv) changes in economic conditions, currency exchange rates or political stability in the major markets where Advantest procures materials, components and supplies for the production of its principal products or where its products are produced, distributed or sold. A discussion of these and other factors which may affect Advantest’s actual results, levels of activity, performance or achievements is contained in the “Operating and Financial Review and Prospects”, “Key Information - Risk Factors” and “Information on the Company” sections and elsewhere in Advantest’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.
  2. 2. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 2 All Rights Reserved - Advantest Corporation Financial Results for 1st Quarter of FY2013 July 25, 2013 Hiroshi Nakamura Director and Managing Executive Officer 2013/7/254 Summary of Results FY2012 FY2013 1Q 2Q 3Q 4Q 1Q Q on Q (%) Y on Y (%) Orders 46.2 25.3 24.4 29.8 39.5 32.1 -14.5 Sales 33.4 39.2 24.6 35.7 30.1 -15.8 -9.8 Cost of Sales 15.8 18.7 11.6 17.9 14.8 -17.5 -6.3 Gross Profit 17.6 2.05 13.0 17.8 15.3 -14.0 -12.9 Operating Income 0.8 2.6 -2.6 -0.7 -3.3 - - Non-Operating Income 0.5 -0.8 -0.4 -0.7 0.5 - -5.7 Income Before Tax 1.3 1.8 -3.0 -1.4 -2.8 - - Net Income 0.4 1.1 -3.4 -1.9 -3.6 - - Order Backlog 36.4 22.5 22.3 16.4 25.8 57.0 -29.1 All Rights Reserved - Advantest Corporation (¥B)
  3. 3. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 3 2013/7/25 29.3 14.3 14.8 17.2 20.1 8.3 3.8 1.9 3.2 8.1 2012 1Q 2012 2Q 2012 3Q 2012 4Q 列2 2013 1Q All Rights Reserved - Advantest Corporation5 4.7 4.6 4.7 6.7 6.7 4.2 3.2 2.7 2.9 4.7 37.6 18.1 16.7 20.4 28.2 46.2 0 37.6 Orders by Segment 25.3 18.1 16.7 20.4 0 FY2012 2Q 4Q1Q 3Q FY2012 2Q 4Q1Q 3Q FY2013 FY2013 1Q 1Q 24.4 29.8 39.5 28.2 3030 Semiconductor & Component Test Systems Mechatronics Systems Services, Support & Others Memory Test Systems Non-Memory Test Systems Note: Intersegment transactions have been eliminated from totals Semiconductor & Component Test System Breakdown (¥B) 2013/7/25All Rights Reserved - Advantest Corporation6 3.6 1.4 1.8 1.7 2.5 2.3 2.5 1.8 1.3 3.3 6.3 3.1 3.5 3.7 2.7 5.8 2.1 0.6 2.8 3.3 9.7 6.3 9.6 11.8 14.3 15.7 7.2 3.6 5.6 8.9 2.8 2.7 3.5 2.9 4.5 Japan S Korea Taiwan China Americas Europe Others 25.3 0 46.2 FY2012 2Q 4Q1Q 3Q FY2013 29.8 24.4 1Q Orders by Region 39.5 (¥B)
  4. 4. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 4 2013/4/25 20.4 24.1 15.9 22.9 15.1 5.5 6.4 1.5 4.4 5.9 2012 1Q 2012 2Q 2012 3Q 2012 4Q 列2 2013 1Q All Rights Reserved - Advantest Corporation7 4.6 5.1 4.9 5.5 5.6 3.3 4.9 2.5 3.0 3.5 25.9 30.5 17.4 27.3 21 33.4 0 25.9 Sales by Segment 39.2 30.5 17.4 27.3 0 FY2012 2Q 4Q1Q 3Q FY2012 2Q 4Q1Q 3Q FY2013 FY2013 1Q 1Q 24.6 35.7 30.1 21.0 3030 Semiconductor & Component Test Systems Mechatronics Systems Services, Support & Others Memory Test Systems Non-Memory Test Systems Note: Intersegment transactions have been eliminated from totals Semiconductor & Component Test System Breakdown (¥B) 2013/4/25All Rights Reserved - Advantest Corporation8 3.5 2.7 1.6 1.8 1.8 2.3 2.7 2.2 1.9 2.2 5.5 3.8 5.3 6.0 3.0 3.2 5.1 1.4 2.3 2.9 7.0 8.3 6.5 14.0 9.9 9.0 13.1 4.1 5.6 7.6 2.9 3.5 3.5 4.1 2.7 Japan S Korea Taiwan China Americas Europe Others 39.2 0 33.4 FY2012 2Q 4Q1Q 3Q FY2013 35.7 24.6 1Q Sales by Region Overseas Sales % 91.4% 90.9% 88.3% 86.1% 91.1% 30.1 (¥B)
  5. 5. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 5 2013/7/25 16.8 17.9 15.6 18.5 18.6 0.8 2.6 -2.6 -0.7 -3.3 52.6% 52.3% 53.1% 49.8% 50.8% Gross Margin All Rights Reserved - Advantest Corporation9 Gross Profit/Operating Expenses/ Operating Income FY2012 2Q 4Q1Q 3Q FY2013 1Q Operating Expenses, Operating Income 50% Operating Income Operating Expenses (¥B) 2013/7/25All Rights Reserved - Advantest Corporation10 8.1 8.6 7.5 8.9 8.7 2.9 2.8 4.0 2.9 1.4 1.9 1.9 2.0 2.3 2.3 R&D Capex Depreciation and Amortization R&D Expenses/Capex/ Depreciation and Amortization R&D as a % of Sales 24.1% 22.0% 30.6% 24.8% FY2012 2Q 4Q1Q 3Q FY2013 1Q 29.0% (¥B)
  6. 6. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 6 2013/7/25 51.0 66.0 67.7 42.3 42.8 42.6 32.4 32.4 32.4 26.5 31.4 32.025.0 25.0 25.017.2 17.5 18.418.7 10.4 12.5 12.8 13.8 14.4 35.2 41.7 44.9 14.8 15.8 16.1 35.4 41.4 41.37.2 8.3 8.533.2 31.8 32.7 24.5 27.0 25.4 50.0 45.7 47.3 All Rights Reserved - Advantest Corporation11 Balance Sheet 213.1 June 30, 2013 June 30, 2012 230.6225.5 March 30, 2013 125.7 141.2 142.6 59.0% 62.6% 61.8% June 30, 2013 June 30, 2012 March 30, 2013 (Equity) Liabilities & Equity Property, Plant & Equipment Other Assets Cash, Cash Equivalents Accounts Receivable Inventories Other Current Assets Intangible Assets Goodwill Accounts Payable Other Liabilities Common Stock Capital Surplus Retained Earnings & Others Corporate Bonds Other Current Liabilities 213.1 230.6225.5 (¥B) (Equity-to-Assets Ratio) Assets All Rights Reserved - Advantest Corporation We reiterate our anticipation of increased demand from the memory market. FY2013 1Q Business Update July 25th 2013 Haruo Matsuno Representative Director, President & CEO
  7. 7. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 7 2013/7/2513 All Rights Reserved - Advantest Corporation  Memory Tester Business • Short-term demand driven by higher-speed mobile DRAM • A new round of investment in front-end processes also foreseen • Advantest’s new T5831, launched in July, poised to capture additional share in the NAND tester market  Non-Memory Tester Business • Low-end smartphones establishing a stronger presence • High-end smartphone growth may sag in the near term • 2H demand projections are positive for a broad range of device types including logic ICs and CIS FY2013 Business Outlook Update 1 2013/7/2514 All Rights Reserved - Advantest Corporation  Handler Business, Device Interface Business • In addition to the recovery of the memory tester market, finer-pitch semiconductor processes for mobile devices will drive high-volume demand in 2H • Business environment is improving • Probe cards currently under customer evaluation, expected to contribute to revenues in 2H  Service & Support Business • Sales continue to find a higher range, correlating with the growth of Advantest’s installed base FY2013 Business Outlook Update 2
  8. 8. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 8 2013/7/2515 All Rights Reserved - Advantest Corporation  Entry Into Wireless Test Market • In June 2013, Advantest completed its acquisition of W2BI, a provider of system level test automation software focusing on wireless communications  Advantest’s global sales and support network can rapidly expand sales of W2BI’s highly-regarded solutions New Business Update 1 USD 700M USD 1,400M 2012 2017 Estimated value of mobile device system level test software market (source: Advantest) (CY) 2013/7/2516 All Rights Reserved - Advantest Corporation  Entry Into SSD Tester Market • Advantest has announced a new SSD tester platform enabling the first truly scalable, platform-based solutions for SSDs  Enterprise storage demand is powering high growth in the SSD tester market  The SSD tester market is forecast to triple in value to ¥9 billion within the next three years  Advantest’s experience in the NAND flash memory market and expertise in test position us to capture a significant share of this market New Business Update 2
  9. 9. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 9 2013/7/25  Status of Other New Businesses • Corporate reorganization executed in June with the goal of accelerating new business development  Additional sales resources allocated to new businesses • Advantest’s CloudTesting Service launched in the USA  Europe and Taiwan rollouts scheduled for FY2013  Currently focusing on brand recognition for the service, with substantial revenue contributions expected in FY2014 17 All Rights Reserved - Advantest Corporation New Business Update 3 2013/7/25  Status of Other New Businesses • First order for new F7000 Electron Beam lithography tool secured • New terahertz wave spectroscopy and analysis platform developed  Coverage extends from R&D to industrial uses, including in-line monitoring of manufacturing processes  Expands the horizons of applied terahertz technology 18 All Rights Reserved - Advantest Corporation New Business Update 4 F7000 EB Lithography System Terahertz Wave Spectroscopy & Analysis Platform
  10. 10. July 25, 2013 © Copyright 2013 ADVANTEST CORPORATION 10 2013/7/2519 FY2013 Forecast All Rights Reserved - Advantest Corporation FY2012 Results FY2013 Full Year Forecast Orders 125.7 165.0 Sales 132.9 160.0 Operating Income 0.1 13.0 Net Income -3.8 9.8 FY2013 exchange rate assumptions: 1USD=¥90, 1Euro=¥120 Interim Dividend Per Share ¥10 ¥10 (forecast) Year-End Dividend Per Share ¥10 ¥10 (forecast) (¥B) 2013/7/2520 FY2013 Earnings Outlook: All Rights Reserved - Advantest Corporation 0 50 100 150 200 250 FY2012 FY2013 ¥132.9B Core Businesses Approx. ¥103B Approx. ¥9B FY2012 (¥B) ¥160B FY2013 Approx. ¥21B Approx. ¥116B Category Breakdown New Businesses: +¥4B YoY GOAL: Expand sales in new markets including EB lithography and terahertz analysis GOAL: Aggressively develop wireless test and SSD tester businesses Tester Peripherals: +¥10B YoY Device Interfaces GOAL: Win probe card customers GOAL: Expand share within existing DI categories Services GOAL: Grow earnings from maintenance services by expanding sales Core Businesses: +¥13B YoY Semiconductor Test Systems GOAL: Maintain share of mobile test segment GOAL: Improve share of CIS, power IC, MCU segments GOAL: Corral demand for high-speed DRAM and NAND memory testers Test Handlers GOAL: Maintain demand correlation with memory testers Approx. ¥13B Approx. ¥31B Tester Peripherals New Businesses

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