Tokyo Stock Exchange (TSE): 6264
Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
MARUMAE CO., LTD.
FY2021 Financial Results Summary
October 8, 2021
TECHNOLOGY FOR THE FUTURE
Manufacturer of vacuum components for semiconductor and FPD production equipment
Marumae Co., Ltd. All Rights Reserved
1. Overview of Financial Results
P/L Analysis
P/L | FY2020 | FY2021 | |||
Amount | Ratio | Amount | Ratio | YoY change ratio | |
(million yen) | (%) | (million yen) | (%) | (%) | |
Point
1. Status of orders received
Semiconductor sector: 4,850 million yen (43.1% YoY increase)
Orders received
Balance of the orders received
Net sales
Cost of sales
Gross profit
Selling and administrative expenses
Operating profit
Ordinary profit
Extraordinary loss (income)
Profit
EPS (yen)
4,346 | ー | 6,241 | ー | 43.6 |
791 | ー | 1,804 | ー | 128.1 |
4,388 | 100.0 | 5,369 | 100.0 | 22.4 |
3,008 | 68.5 | 3,552 | 66.2 | 18.1 |
1,380 | 31.5 | 1,817 | 33.8 | 31.7 |
483 | 11.0 | 610 | 11.4 | 26.0 |
896 | 20.4 | 1,207 | 22.5 | 34.7 |
834 | 19.0 | 1,200 | 22.4 | 43.9 |
142 | 3.3 | 22 | 0.4 | (84.4) |
690 | 15.7 | 902 | 16.8 | 30.7 |
53.34 | ー | 70.51 | ー | 32.2 |
FPD sector: 1,160 million yen (24.3% YoY increase)
Other sectors: 229 million yen (923.4% YoY increase)
2. Net sales
22.4% YoY increase
*The details for each sector are listed on the next page.
3. Cost of sales and gross profit
Material cost: 192 million yen increase (29.4% YoY increase)
Outsourcing expenses: 153 million yen increase (29.9% YoY increase)
Labor costs: 178 million yen increase (19.4% YoY increase)
Depreciation: 67 million yen increase (13.2% YoY increase)
4. Selling and administrative expenses
Personnel expenses: 64 million yen increase
Research and development expenses: 33 million yen increase
Marumae Co., Ltd. All Rights Reserved | -2- |
1. Overview of Financial Results
Trends in Quarterly Business Results
(Unit: | Sales/cutting (semiconductor) | Sales/cutting (FPD) | Sales/cutting (other) | Fiscal Year | |||||||||
Other sales | Gross profit | Operating profit | Ended | ||||||||||
million yen) | 14 | ||||||||||||
Ordinary profit | Profit | August 2021 | |||||||||||
1,600 | 386 | ||||||||||||
1,400 | |||||||||||||
1,200 | 58 | 1,299 | |||||||||||
273 | 76 | 175 | |||||||||||
277 | |||||||||||||
244 | 251 | 17 | |||||||||||
1,000 | 111 | ||||||||||||
198 | 276 | 164 | 1,050 | ||||||||||
977 | |||||||||||||
944 | 263 | 904 | |||||||||||
800 | 871 | 111 | 884 | 893 | |||||||||
831 | |||||||||||||
102 | |||||||||||||
771 | 766 | ||||||||||||
707 | 607 | ||||||||||||
600 | 648 | ||||||||||||
430 | |||||||||||||
400 | 427 | ||||||||||||
346 | |||||||||||||
200 | |||||||||||||
0 | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q |
FY2018 | FY2019 | FY2020 | FY2021 | ||||||||||
Point 1. Record sales for semiconductors, and sales recovery in FPD | Other sectors: 168 million yen (693.3% YoY increase) |
Semiconductor sector: 4,221 million yen (31.8% YoY increase)
- Favorable semiconductor market environment and a new record high in this quarter
FPD sector: 838 million yen (21.5% YoY decrease)
• Sales recovery due to improved market and EBW*-related sales
- Focusing on semiconductor and FPD sectors and tending to curb orders in the other sectors while utilizing outsourcing
2. Improved profits in line with increased sales
- Profit: 902 million yen (30.7% YoY increase)
*EBW: Electron beam welding
*The graph shows quarterly figures, but the numbers in the comments for each point are those for the fiscal year under review.
Marumae Co., Ltd. All Rights Reserved | -3- |
1. Overview of Financial Results
B/S Analysis
B/S | Fiscal year ended | Fiscal year ended | 1. Assets: 9,742 million yen (increased by 848 million yen | |||||||||||||||||||||||||||||||||
Point | from the end of the previous fiscal year) | |||||||||||||||||||||||||||||||||||
Aug 2020 | Aug 2021 | |||||||||||||||||||||||||||||||||||
(Unit: million yen) | • Machinery and equipment: 498 million yen increase | |||||||||||||||||||||||||||||||||||
Current assets | 4,369 | 4,813 | • Trade receivables: 309 million yen increase | |||||||||||||||||||||||||||||||||
2. Liabilities: 3,415 million yen (increased by 227 million yen | ||||||||||||||||||||||||||||||||||||
Cash & deposits | 2,540 | 2,505 | from the end of the previous fiscal year) | |||||||||||||||||||||||||||||||||
• Accounts payable - other: 185 million yen increase | ||||||||||||||||||||||||||||||||||||
Trade receivables | • Accounts payable - trade: 133 million yen increase | |||||||||||||||||||||||||||||||||||
(Notes receivable - trade, | 1,376 | 1,685 | 3. Net assets: 6,327 million yen (increased by 621 million yen | |||||||||||||||||||||||||||||||||
accounts receivable - trade, and | from the end of the previous fiscal year) | |||||||||||||||||||||||||||||||||||
electronically recorded monetary | • Dividends paid: 281 million yen | |||||||||||||||||||||||||||||||||||
claims - operating) | ||||||||||||||||||||||||||||||||||||
• Retained earnings: 621 million yen increase | ||||||||||||||||||||||||||||||||||||
Inventories | 438 | 597 | • Equity ratio: 64.2% → 64.9% | |||||||||||||||||||||||||||||||||
Non-current assets | 4,524 | 4,929 | ||||||||||||||||||||||||||||||||||
(Unit: | Long-term borrowings | Fiscal Year | ||||||||||||||||||||||||||||||||||
Buildings & land | 2,359 | 2,358 | Current portion of long-term borrowings | Ended | ||||||||||||||||||||||||||||||||
million yen) | ||||||||||||||||||||||||||||||||||||
August 2021 | ||||||||||||||||||||||||||||||||||||
Machinery & equipment | 1,775 | 2,273 | 2,500 | 379 | 379 | 379 | 429 | |||||||||||||||||||||||||||||
379 | 389 | |||||||||||||||||||||||||||||||||||
1,183 | 1,452 | 427 | ||||||||||||||||||||||||||||||||||
Current liabilities | 389 | |||||||||||||||||||||||||||||||||||
2,000 | ||||||||||||||||||||||||||||||||||||
389 | ||||||||||||||||||||||||||||||||||||
Interest-bearing liabilities | 389 | 427 | ||||||||||||||||||||||||||||||||||
(short-term)* | 1,500 | |||||||||||||||||||||||||||||||||||
Non-current liabilities | 2,004 | 1,963 | ||||||||||||||||||||||||||||||||||
Long-term borrowings | 1,970 | 1,923 | 1,000 | 2,262 | 2,167 | 2,072 | ||||||||||||||||||||||||||||||
1,978 | 1,970 | 1,873 | 2,028 | 1,923 | ||||||||||||||||||||||||||||||||
1,775 | ||||||||||||||||||||||||||||||||||||
Total liabilities | 3,188 | 3,415 | 500 | |||||||||||||||||||||||||||||||||
Total net assets | 5,706 | 6,327 | ||||||||||||||||||||||||||||||||||
Total assets | 8,894 | 9,742 | 0 | |||||||||||||||||||||||||||||||||
Term-end | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | ||||||||||||||||||||||||||||
FY | ||||||||||||||||||||||||||||||||||||
*Interest-bearing liabilities (short-term):Short-term borrowings + Current portion of long-term borrowings | 2019 | |||||||||||||||||||||||||||||||||||
Marumae Co., Ltd. All Rights Reserved | -4- |
2. Business Environment
Trends in the Monthly Balance of Orders Received
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
(Unit: million yen) | Fiscal Year Ended | 67 | |||||||||||||||||||||||||||||
Semiconductor sector | August 2021 | ||||||||||||||||||||||||||||||
FPD sector | 26 | 34 | |||||||||||||||||||||||||||||
8 | 27 | ||||||||||||||||||||||||||||||
Other sectors | 527 | ||||||||||||||||||||||||||||||
499 478 | |||||||||||||||||||||||||||||||
27 | 512 531 | ||||||||||||||||||||||||||||||
4 | 55 | 499 | |||||||||||||||||||||||||||||
6 | 88 | ||||||||||||||||||||||||||||||
4 | 5 | 4 | 49 | 23 | 324 | ||||||||||||||||||||||||||
22 | 4 | 6 | 4 | 5 | 3 | 4 | 7 | 5 | 8 | 294 | 322 291 | 6 | 8 | 41 | 205 | 225 | |||||||||||||||
3 | 26 | 4 | 4 | 4 | 4 | 251 262 | 176 | 1,209 | |||||||||||||||||||||||
205 | 189 | 195 | |||||||||||||||||||||||||||||
147 158 174 164 174 | 4 | 3 | 185 191 206 | 246 340 | 337 322 | 312 | 275 | 273 283 | 1,122 | ||||||||||||||||||||||
157 | 169 | 1,095 | |||||||||||||||||||||||||||||
991 979 |
606 571 534 540 521 458 490 555 548 536 460 391 429 438 459 462 498 511 599 624 607 599 581 579 590 639 589 654 696 697 753
Sep Oct Nov Dec Jan Feb Mar Apr May Jun | Jul Aug | Sep Oct Nov Dec Jan Feb Mar Apr May Jun | Jul Aug | Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug |
FY2019 | FY2020 | FY2021 | ||
Point Semiconductor sector: In addition to a market that was strong overall, there were increased orders from a new customer.
- FPD sector: There was a recovery trend in orders for G10.5 LCDs as well as for G6 OLED (organic LEDs). Market-share gains also contributed to the recovery.
- Other sectors: There were orders related to our automated equipment and recovery in orders for solar cell production equipment parts.
*The Company's orders have varying lead times. When there are many orders with a long lead time, the order backlog tends to be high compared to sales, and the reverse is true when there are many orders with a short lead time.
Marumae Co., Ltd. All Rights Reserved | -5- |
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Marumae Co. Ltd. published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2021 06:11:10 UTC.