Financial Results for FY2023
May 14, 2024
Contents
【1】 FY2023 Results
【2】 FY2024 Forecast
【3】 Initiatives to Increase Corporate Value
- Strengthening Production Bases for Growth
- Introduction of New Factories
- Approach to Sustainability
- Strengthening the Corporate Governance System
- Efforts to Implement Management Conscious of Cost of Capital and Stock Price
- Progress Status of Medium-Term Management Plan
7. Shareholder Returns | |||
Abbreviations Used in This Presentation | |||
Business Segment | Abbreviation | ||
Test Solution Business | TS Business | ||
Connector Solution Business | CS Business | ||
Optical-Related Business | OPT Business | 2/26 | |
【1】 FY2023 Results
Results
Profit was negatively impacted despite ongoing cost containment efforts implemented in response to cost growth caused by soaring raw material and energy prices and a temporary increase in overhead expenses related to the launching of new plants in Japan and the Philippines.
FY2022 | FY2023 | YoY | YoY | |||
(Billions of JPY) | Full-year | Forecast | Full-year | increase | increase | |
results | (as of | results | (amount) | (%) | ||
Nov.7,2023) | ||||||
Net sales | 46.9 | 38.4 | 36.4 | (10.5) | -22.5% | |
Operating income | 9.1 | 2.9 | 2.9 | (6.2) | -67.9% | |
Ordinary income | 9.4 | 2.8 | 2.9 | (6.5) | -69.2% | |
Net profit | 7.2 | 2.0 | 2.0 | (5.1) | -71.4% | |
EPS(JPY) | 346.08 | 97.50 | 100.43 | (245.65) | ---- | |
BPS(JPY) | 1770.47 | ---- | 1862.43 | 91.96 | ---- | |
3/26
【1】 FY2023 Results
Results by Business
FY2022 | FY2023 | YoY | YoY | |||||
(Billions of JPY) | Full-year | Forecast | Full-year | increase | increase | |||
results | (as of | results | (amount) | (%) | ||||
Nov.7,2023) | ||||||||
TS | Sales | 24.2 | 17.1 | 15.8 | (8.3) | -34.6% | ||
Business | Operating income | 7.0 | 1.7 | 1.8 | (5.2) | -74.0% | ||
CS | Sales | 21.0 | 20.0 | 19.2 | (1.8) | -8.8% | ||
Business | Operating income | 1.6 | 1.0 | 0.9 | (0.7) | -43.0% | ||
OPT | Sales | 1.7 | 1.3 | 1.3 | (0.3) | -20.4% | ||
Business | Operating income | 0.1 | (0.0) | (0.0) | (0.2) | ---- | ||
Others | Operating income | 0.2 | 0.2 | 0.1 | (0.0) | ---- | ||
(consolidated adjustment) | ||||||||
Total | Sales | 46.9 | 38.4 | 36.4 | (10.5) | -22.5% | ||
Operating income | 9.1 | 2.9 | 2.9 | (6.2) | -67.9% | |||
4/26
【1】 FY2023 Results
TS Business Results
- With regard to the test socket product category, performance from our mainstay products with smartphone-related applications incurred impact from sluggish conditions, especially in the Chinese market, while results also took a hit from circumstances in the PC market, which slowed down due to the absence of previously observed COVID-19-related demand.
- In the sockets for logic semiconductors category, performance from products with automotive applications remained strong, but sales generated through products with applications in other fields declined.
- Despite a slight resumption of investment related to DRAM during 2H, performance from memory semiconductor products was lackluster overall due to ongoing sluggishness in sales generated through memory semiconductor products with NAND-related applications.
- Expenses increased due to soaring costs for raw materials and energy, as well as outlays associated with new plant startups. However, we made productivity and quality improvements to keep the impact to a
minimum. | Sales by Product Type as Percentages of Average |
Quarterly Sales Reported in FY2018 |
Net sales
Operating income
5/26
【1】 FY2023 Results
CS Business Results
CS | YoY increase | YoY increase | |
Business | (Billions of JPY) | (%) | |
Sales | (1.8) | -8.8% | |
Operating income | (0.7) | -43.0% |
- Products for the automotive market performed well, partly due to increased production volumes among major customers and positive impact from new product shipments.
- Products for the FA/industrial market were affected by inventory adjustments performed by customers in Europe, which is a key market.
- Products for the telecom/datacom market remained strong in Europe due to increased demand for high-speed,large-capacity transmission amid the continued impact of economic friction between the US and China, but were affected by protracted inventory adjustments among North American customers.
- Expenses increased due to soaring costs for raw materials and energy, as well as outlays associated with new plant startups. However, we made productivity and quality improvements to keep the impact to a minimum.
Net sales
Operating income
6/26
【1】 FY2023 Results
Forex Impact on Results
Forex rate | FY2022 | FY2023 | YoY change |
USD (JPY) | 135.47 | 144.64 | + 9.17 |
EUR (JPY) | 140.97 | 156.81 | +15.84 |
YoY Forex Impact | |||
Net sales | JPY 2.4 billion | ||
Operating income | JPY 0.7 billion | ||
Forex sensitivity | Impact on | Impact on | |
operating | |||
(JPY1/year) | net sales | ||
income | |||
USD | JPY 0.13 billion | JPY 0.06 billion | |
EUR | JPY 0.07 billion | JPY 0.01 billion | 7/26 |
【1】 FY2023 Results
Cash Flows
(Billions of JPY) | FY2021 | FY2022 | FY2023 | YoY increase | ||
(amount) | ||||||
Cash flows from operating activities | 7.6 | 10.8 | 3.2 | (7.6) | ||
Cash flows from investing activities | (2.2) | (4.8) | (4.2) | 0.6 | ||
Free cash flows | 5.3 | 5.9 | (0.9) | (6.9) | ||
Cash flows from financing activities | (1.7) | (3.3) | (3.4) | (0.0) | ||
Cash and cash equivalents at the end of period | 13.5 | 16.7 | 13.0 | (3.6) |
15
10
5
Cash flows from
operating activities Cash flows from
investing activities Cash flows from
0 | financing activities | |||||||
(5) | Free cash flows | |||||||
FY2021 | FY2022 | FY2023 | ||||||
8/26
【1】 FY2023 Results
Balance Sheet
Billions of JPY | End of | End of | Increase / | Notes | ||
Mar. 2022 | Mar. 2024 | decrease | ||||
Total current | Cash and deposits: JPY4.12bn decrease | |||||
32.6 | 29.7 | (2.9) | (Decrease in sales, expenditures for the construction of a new | |||
assets | building at our Sakura Factory and a new factory in the | |||||
Philippines) | ||||||
Total Non-current | 17.6 | 21.3 | 3.6 | Buildings and structures: JPY2.79bn increase due to the | ||
assets | construction of production factories | |||||
Total assets | 50.3 | 51.0 | 0.6 | |||
Total current | 10.4 | 9.2 | (1.1) | Income taxes payable: JPY580mn decrease | ||
liabilities | Provision for bonuses: JPY730mn decrease | |||||
Total non-current | 2.9 | 3.5 | 0.6 | |||
liabilities | ||||||
Total liabilities | 13.3 | 12.7 | (0.5) |
Total net assets | 37.0 | 38.2 | 1.2 |
Total liabilities and | 50.3 | 51.0 | 0.6 |
net assets | |||
9/26 | |||
【1】 FY2023 Results
Capex and Depreciation
Capital Investment
7
6
(Billions of JPY)
FY projection
6.0
5
4
3
2
1
0
4.5
2.7
5.5
4.6
2.8
FY2021 | FY2022 | FY2023 |
result | result | Q3 result |
10/26
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YAMAICHI Electronics Co. Ltd. published this content on 20 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 May 2024 04:17:10 UTC.