ROHM CO., LTD. Financial Highlights for the First Six Months... (From April 1, 2012 to September 30, 2012)

ROHM CO., LTD. Financial Highlights for the First Six Months... (From April 1, 2012 to September 30, 2012)
ROHM CO., LTD. Financial Highlights for the First Six Months of the Year Ending March 31, 2013
(From April 1, 2012 to September 30, 2012)
November 8, 2012
1. Consolidated Financial Results
(Figures are rounded down to the nearest million yen. Any fraction less than the unit is rounded off.)
Year ending
March
31,2013
Year ended
March
31,2012
First six
months
First six
months
Year ended
March
31,2012
Increase/decrease from
the previous year
Year ending
March
31,2013 (Projected)
Amount
Percentage
Annual
Annual
Net sales
Millions of
yen
150,753
164,730
-13,977
-8.5%
304,652
291,000
Cost of sales
Millions of
yen
108,358
109,931
-1,573
-1.4%
209,046
211,500
Selling, general and administrative
expenses
Millions of
yen
39,752
44,861
-5,109
-11.4%
89,253
78,000
Operating income
Millions of
yen
2,642
9,937
-7,295
-73.4%
6,352
1,500
(1.8%)
(6.0%)
(-4.2%)
(2.1%)
(0.5%)
351
6,645
-6,294
7,286
300
(0.2%)
(4.0%)
(-3.8%)
(2.4%)
(0.1%)
-171
-2,158
+1,987
-16,106
-11,000
(-0.1%)
(-1.3%)
(+1.2%)
(-5.3%)
(-3.8%)
-1.59
-20.02
+18.43
-149.41
-102.03
(Operating income margin)
Ordinary income
Millions of
yen
(Ordinary income margin)
Net income
Millions of
yen
(net income margin)
Basic net income per share
yen
Ratio of net income to equity
%
Ordinary income to total assets
%
-94.7%
-
-
Increase/decrease
from the previous
year
-4.5%
-76.4%
-95.9%
-
-2.5
1.0
Total assets
Millions of
yen
697,762
710,857
-13,095
-1.8%
737,326
Net assets
Millions of
yen
614,418
635,011
-20,593
-3.2%
634,280
Equity ratio
%
88.0
89.1
-1.1
Net assets per share
yen
5,696.09
5,871.89
-175.80
-3.0%
5,880.27
Capital expenditures
Millions of
yen
22,568
17,422
+5,146
+29.5%
51,117
57,500
+12.5%
Depreciation
Millions of
yen
17,710
17,010
+700
+4.1%
35,915
40,000
+11.4%
Research and development costs
Millions of
yen
18,869
19,422
-553
-2.8%
39,763
37,000
-7.0%
Net financial revenue
Millions of
yen
852
772
+80
+10.3%
1,599
Foreign currency exchange
gains/losses
Millions of
yen
(loss)3,786
(loss)4,383
(gain)597
79.43
79.74
-0.31
Foregin exchange rate
(Average yen-dollar rate)
86.0
(loss)1,284
(Second half)
yen/US$
-0.4%
79.31
78.00
(Note1) The projected data are based on the information available at the time of release of this report. A number of important factors including business
conditions may cause actual results to differ materially from those projected, and therefore, the projected data are not intended to guarantee to be
achived by ROHM.
(Note2) This report is a translation of the financial highlights of the Company prepared in accordance with the provisions set forth in the Securities and Exchange
Law and its related accounting regulations, and in conformty with accounting principles generally accepted in Japan. The original version of this report is
written in Japanese. In the event of any discrepancies in words, accounts, figures, or the like between this report and the original, the original Japanese
version shall govern.
Contact: Public Relations and Investor Relations Div., ROHM CO., LTD.
21, Saiin Mizosaki-cho, Ukyouku, Kyoto 615-8585
+81-75-311-2121
-Financial Highlihts 1-
1. Consolidated Financial Results (Continued from the previous page)
Year ending
March
31,2013
First six
months
(Figures are rounded down to the nearest million yen. Any fraction less than the unit is rounded off.)
Year ending
Year ended
Year ended
Increase/decrease
March
March
March
from the previous year
31,2013 (Projected)
31,2012
31,2012
First six
months
Amount
Percentage
Annual
Annual
Increase/decrease
from the previous
year
Sales by segment and geographical region (Note 1)
Millions of
yen
ICs
73,239
80,952
-7,713
-9.5%
(Japan)
(27,948)
(33,528)
(-5,580)
(-16.6%)
(62,919)
(52,343)
-16.8%
(Asia)
(40,679)
(42,178)
(-1,499)
(-3.6%)
(76,956)
(77,955)
+1.3%
(Americas)
(3,459)
(3,873)
(-414)
(-10.7%)
(6,765)
(6,631)
-2.0%
(Europe)
(1,153)
(1,372)
(-219)
(-16.0%)
(2,492)
(2,187)
-12.2%
50,854
56,132
-5,278
-9.4%
(Japan)
(17,689)
(19,149)
(-1,460)
(Asia)
(29,252)
(32,796)
(-3,544)
(Americas)
(1,946)
(1,939)
(+7)
(Europe)
(1,966)
(2,246)
(-280)
Discrete semiconductor devices
Others
(Japan)
(Asia)
149,134
139,118
-6.7%
103,861
97,594
-6.0%
(-7.6%)
(37,394)
(33,971)
-9.2%
(-10.8%)
(58,140)
(55,881)
-3.9%
(+0.4%)
(3,947)
(3,874)
-1.8%
(-12.5%)
(4,379)
(3,867)
-11.7%
26,659
27,646
-987
-3.6%
51,656
54,286
+5.1%
(9,833)
(8,910)
(+923)
+10.4%
(17,304)
(20,632)
+19.2%
(14,260)
(15,918)
(-1,658)
(-10.4%)
(29,035)
(28,885)
-0.5%
(Americas)
(1,073)
(998)
(+75)
(+7.5%)
(1,894)
(1,871)
-1.2%
(Europe)
(1,492)
(1,817)
(-325)
(-17.9%)
(3,422)
(2,895)
-15.4%
Total
150,753
164,730
-13,977
-8.5%
304,652
291,000
-4.5%
(Japan)
(55,471)
(61,588)
(-6,117)
(-9.9%)
(117,618)
(106,948)
-9.1%
(Asia)
(84,191)
(90,894)
(-6,703)
(-7.4%)
(164,133)
(162,722)
-0.9%
(Americas)
(6,479)
(6,811)
(-332)
(-4.9%)
(12,606)
(12,377)
-1.8%
(Europe)
(4,611)
(5,436)
(-825)
(-15.2%)
(10,294)
(8,950)
-13.1%
Sales by application (Note 2)
%
6.1
8.9
-2.8
Home appliance
3.3
3.2
+0.1
3.2
Other consumer
12.6
13.2
-0.6
12.7
Computer and OA
12.7
12.6
+0.1
12.5
Telecommunications
12.5
13.4
-0.9
12.9
Automotive
Audio,Visual
7.8
23.6
19.7
+3.9
22.0
Other industrial
5.9
6.0
-0.1
6.0
Subassemblies
17.1
17.4
-0.3
17.4
6.2
5.6
+0.6
5.5
Others
Major End Products
Audio,Visual
TV,HD Recorder/Player,Video Camera,Memory Audio,Electronic Musical Instrument,etc.
Home Appliances
Microwave Oven,Air Conditioner,Refrigerator,Washing Machine,etc.
Other Consumer
Digital Still Camera,Game Machine,Watch,etc.
Computer and OA
PC,Server,PDA,Printer,Data Storage(DVD-ROM,CD-RW,CD-ROM,HDD,FDD),Monitor,Terminal,etc.
Telecommunications
Cellular Phone/PHS,Modem,FAX,Network,etc.
Automotive
Engine Control Unit,Air bag,Car Navigation,Car Audio etc.
Other industrial
Medical Equipment,Electrical Measuring,Machine Tool,Vending Machine,etc.
Subassemblies
Power Supply For Consumer Appliance/Telecommunications/PC/Industrial Equipment,Flat panel module for
PC/TV,Motor,Power,Optial Pick up Laser,Unit,etc.
Others
OEM Sales,Lights,etc.
(Note 1) The above amounts are sales to external customers.
(Note 2) Since ROHM changed the way it classifies sales by application as of the year ending March 31,2013,the company changed its components for
the year ended March 31,3012 and posted those component ratios by application accordingly.
-Financial Highlights 2-
2.Associated information
(Figures are rounded down to the nearest million yen. Any fraction less than the unit is rounded off.)
Year ending
March
31,2013
Year ended
March
31,2012
First six
months
First six
months
Increase/decrease from the
previous year
Year ending
March
31,2013 (Projected)
Year ended
March
31,2012
Amount
Percentage
Annual
Annual
Increase/decrease
from the previous
year
Capital expenditures by segment
Millions of
yen
ICs
6,695
6,194
+501
+8.1%
27,252
20,800
-23.7%
Discrete semiconductor devices
8,227
4,667
+3,560
+76.3%
11,334
20,900
+84.4%
Others
Sales and Administrative
Expenses Division
Total
5,447
3,415
+2,032
+59.5%
7,603
12,600
+65.7%
2,198
3,145
-947
-30.1%
4,925
3,200
-35.0%
22,568
17,422
+5,146
+29.5%
51,117
57,500
+12.5%
30.0
-15.0
(60.0)
(30.0)
Interim dividends
Yen
(Annual cash dividends)
15.0
(Yen)
Number of shareholders
29,819
29,757
+62
+0.2%
29,255
Financial institution shareholding ratio
%
20.80
21.43
-0.63
21.52
Foregin shareholding ratio
%
50.11
49.78
+0.33
49.72
Number of employees
Japan
5,795
5,925
-130
-2.2%
5,900
Overseas
15,325
16,318
-993
-6.1%
15,395
Total
21,120
22,243
-1,123
-5.0%
21,295
(Number of R&D employees)
(3,164)
(3,142)
(+22)
(+0.7%)
(3,243)
48
48
0
48
(Japan)
(12)
(12)
(0)
(12)
(Overseas)
(36)
(36)
(0)
(36)
6
6
0
6
(0)
(0)
(0)
(0)
1
1
0
1
(0)
(0)
(0)
(0)
Number of consolidated subsidiaries
Number of affiliated companies
(Number of companies accounted for by equity method)
Number of non-consolidated subsidiaries
(Number of companies accounted for by equity method)
-Financial Highlights 3-
Financial Report for the First Six Months of the Year Ending March 31, 2013
[Based on Japanese Standard] (Consolidated)
November 8, 2012
Listed Company Name: ROHM CO., LTD.
Stock Exchange Listings: Tokyo, Osaka
Code No.:
6963
URL http://www.rohm.com
Company Representative:
(Title) President
(Name) Satoshi Sawamura
Contact Person:
(Title) Director, Accounting Headquarters
(Name) Eiichi Sasayama
TEL +81-75-311-2121
November 12, 2012
Scheduled Date for Submitting the Quarterly Financial Reports
Scheduled Dividend Payment Date
December 7, 2012
Preparation of Supplementary Briefing Materials for the Quarterly Settlement : Yes
Briefing Session for the Quarterly Settlement to Be Held
: Yes
(For analysts and institutional investors)
(Figures are rounded down to the nearest million yen.)
1. Consolidated Business Results for the First Six Months of the Year Ending March 31, 2013 (From April 1, 2012 to September 30, 2012)
(The percentages [%] represent changes from the first six months of the previous year.)
(1) Consolidated Results of Operations (Accumulated total)
Net income for the first six
Net sales
Operating income
Ordinary income
months of the year ending
March 31, 2013
%
Millions of yen
First six months of the year
ending March 31, 2013
First six months of the year
ended March 31, 2012
%
Millions of yen
%
Millions of yen
%
Millions of yen
150,753
-8.5
2,642
-73.4
351
-94.7
-171
―
164,730
-9.2
9,937
-57.5
6,645
-61.9
-2,158
―
(Note) Comprehensive Income First six months of the year ending March 31, 2013: -16,625 million yen (—%)
First six months of the year ended March 31, 2012: -26,778 million yen (—%)
Basic net income per share
Diluted net income per share
Yen
First six months of the year
ending March 31, 2013
First six months of the year
ended March 31, 2012
Yen
-1.59
―
-20.02
―
(2) Consolidated Financial Position
Total assets
First six months of the year
ending March 31, 2013
Year ended March 31, 2012
(Reference) Equity capital
Net assets
Shareholder’s equity ratio
Millions of yen
Millions of yen
%
697,762
614,418
88.0
634,280
614,120 million yen
633,982 million yen
86.0
737,326
First six months of the year ending March 31, 2013:
Year ended March 31, 2012:
2. Dividend Details
End of the first
quarter
Annual dividend
End of the third
quarter
Interim
Yen
Year ended March 31, 2012
Year ending March 31, 2013
Year ending March 31, 2013
(Estimates)
Yen
―
―
30.00
15.00
End of year
Yen
Total
Yen
Yen
―
30.00
60.00
―
15.00
30.00
(Note) Revision to recently disclosed dividend estimates: Yes
3. Consolidated Business Results Forecast for the Year Ending March 31, 2013 (From April 1, 2012 to March 31, 2013)
(The percentages [%] shown for FY2012 represent changes from the previous fiscal year.)
Net sales
Operating income
%
Millions of yen
-11,000
Millions of yen
%
Millions of yen
1
Basic net
income per
share
Net income
Fiscal 2013
291,000
-4.5
1,500
-76.4
300
-95.9
(Note) Revision to recently disclosed figures for consolidated business results forecast: Yes
Millions of yen
%
Ordinary income
%
―
Yen
-102.03
*Note
(1) Major Changes in Subsidiaries during the First Six Months of the Year Ending March 31, 2013
(Changes to specified subsidiaries accompanying revision on the scope of consolidation): None
) ,
New company - (Company name:
Excluded company - (Company name:
)
(2) Application of specific accounting method for compiling consolidated financial statements: None
(3) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatement of Revisions
[1] Changes in accounting policies according to revision to accounting standards
: None
[2] Other changes in accounting policies other than items indicated in [1]
: None
[3] Change in accounting estimates
: None
[4] Restatement of revisions
: None
(4) Number of Shares Outstanding (common shares)
[1] Year-end number of
shares outstanding
(incl. treasury stocks)
[2] Year-end number of
treasury stocks
[3] Average number of shares
during the period (Accumulated
total of the first six months)
First six months of the year
ending March 31, 2013
113,400,000 shares
First six months of the year
ending March 31, 2013
5,585,569 shares
Year ended
March 31, 2012
Year ended
March 31, 2012
First six months of
First six months of the year
107,814,637 shares the year ended
ending March 31, 2013
March 31, 2012
113,400,000 shares
5,585,173 shares
107,815,464 shares
*Description Regarding Implementation Status of Quarterly Review Procedures
This quarterly financial report is not applicable to quarter review procedures based on the Financial Instruments and Exchange Act. At the time of disclosure of
this quarterly financial report, the review procedure of the quarterly financial statement based on the Financial Instruments and Exchange Act had been completed.
*Explanation on Adequate Usage of Business Results Forecast
Statements on business results forecasts in this financial report are based on current information acquired by ROHM as well as specific legitimate premises for
making decisions, therefore ROHM makes no promises as to attaining these forecasts. Actual business results may be considerably different due to various factors.
For conditions and notes used for making prepositions of business forecasts, please refer to “Qualitative information regarding consolidated business results forecast”
on Page 5 of the Financial Report for the First Six Months of the Year Ending March 31, 2013 (Appendix).
2
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
○Table of Contents
1. Qualitative information regarding the financial results for the first six months of the current
fiscal year
2
(1) Qualitative information regarding consolidated operating results
2
(2) Qualitative information regarding consolidated financial conditions
4
(3) Qualitative information regarding consolidated business results forecast
5
2. Items regarding summary information (Note)
5
(1) Major changes in subsidiaries during the first six months of the current fiscal year
5
(2) Application of specific accounting procedure for compiling consolidated financial statement
5
(3) Changes in accounting policies, changes in accounting estimates, and restatement of revisions
5
3. Consolidated quarterly financial statements
6
(1) Consolidated quarterly balance sheets
(2) Consolidated quarterly statement of income and consolidated quarterly statement of
comprehensive income
Consolidated quarterly statement of income
Consolidated quarterly statement of comprehensive income
6
8
8
9
(3) Consolidated quarterly statements of cash flows
10
(4) Note on going concern
11
(5) Note in case of significant change in amount of shareholders’ equity
11
(6) Segment information etc.
11
4. Supplementary information
13
Production, orders and actual sales status
13
* Separately attached as supplementary material are “Financial Highlights for the First Six Months of the Year
Ending March 31, 2013.”
1
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
1. Qualitative information regarding the financial results for the first six months of the current fiscal year
(1) Qualitative information regarding consolidated operating results
General Overview of Business Performance
The world economy in the first six months of the current fiscal year continues in uncertainty due to China’s
economic slowdown coupled with financial and monetary problems in Europe. By individual regions, in the US the
mining and manufacturing industries experienced a slowdown while improvement in the employment environment
was delayed, hampering economic recovery. In Europe, the economy continued to slump with lingering financial and
monetary problems centered on Greece and a high unemployment rate. In Asia, although domestic demand including
automobiles was strong in China, decreasing export expansion, combined with sluggish production, slowed the pace
of growth. This weakened pace of economic expansion continued in other Asian regions, including India. In addition
to these economic slowdowns overseas a strong yen, coupled with a sharp decline in the demand for consumer
electronics products, caused a downturn in the Japanese economy, which was on the road to recovery due to
reconstruction demands following the Great East Japan Earthquake.
In the electronics industries, smartphones and tablet computers enjoyed robust sales, and the sales of game consoles
were on the rise, however sales of flat screen TVs were considerably sluggish due to prolonged inventory adjustments
and little or no stimulus from the Olympics. Sales of personal computers, excluding tablet computers, recorded a
seasonal increase in the first half period, but slowed down in the second half. Energy-saving-related equipment did
not make its usual seasonal recovery due to deteriorating business confidence.
As a result, the electronic components industry continued to face difficult conditions. In Japan, sales of electronic
components for automotive applications and high performance digital cameras regained positive ground after the
flooding in Thailand. However, tough times remained for the flat screen TV sector. In Asia, thanks to the recovery
efforts from the flooding in Thailand, demand for smartphones and tablet computers increased, along with the demand
for electronic components, but sales were sluggish overall as the production of flat-screen TVs and conventional
mobile phones decreased. In the US, automotive electronic components and telecommunication infrastructure-related
equipment were both strong, but the market for other industrial equipment recorded sluggish sales. In Europe, the
demand for components was slow due to a downturn in the regional electronic components markets.
Under these circumstances, the ROHM Group is committed to strengthening its product lineups by focusing on
four strategies for growth.
1. Enhancing IC products via synergistic collaboration with LAPIS Semiconductor Co., Ltd.
2. Strengthening our lineup of sensors
3. Developing power device products centered on SiC
4. Expanding LED operations to include LED elements, optical modules, and LED lighting equipment
In individual markets, the ROHM Group is making concerted efforts in strengthening sales in two important areas
where significant growth is expected – the automotive and industrial markets, the latter of which includes
telecommunication infrastructure, smart meters, power generation and power storage.
The ROHM Group created new product strategy groups for different markets in order to provide products in a
timely manner to enhance sales. In addition, to improve support for global customers, the company restructured the
sales system from one focused on individual regions into a global sales system centered on customers. And at
individual overseas sites the ROHM Group continued to employ local FAEs (*1).
Regarding new product development, ROHM successfully miniaturized inverter circuits for electric and hybridelectric vehicles and developed isolated gate drivers for automotive applications that contribute to decreased power
consumption as well as LDO regulators (*2) for automotive applications that utilize low dark current (*3) in order to
reduce current by 80% over conventional products.
In addition, ROHM continued to develop eco-friendly devices with the goal of improving the environment on a
global scale. This included enhancing product lineups with full SiC modules that incorporate an SiC SBD (*4) and
SiC MOSFET (*5) in a single-package, significantly reducing power loss in inverters and minimizing the number of
external components required.
ROHM also developed the world’s smallest transistor and diode, which contribute to making portable equipment –
including smartphones – thinner, smaller, and more functional.
Under these circumstances, consolidated net sales in the first six months of the year ending March 31, 2013 were
150,753 million yen (a decrease of 8.5 percent from the first six months of the year ended March 31, 2012), and
operating income was 2,642 million yen (a decrease of 73.4 percent from the first six months of the year ended March
31, 2012).
Ordinary income was 351 million yen (a decrease of 94.7 percent from the first six months of the year ended March
31, 2012), after exchange losses, and net loss for the quarter was 171 million yen (net loss of 2,158 million yen
recorded in the first six months of the year ended March 31, 2012).
*1. FAE (Field Applications Engineer)
Engineers and technicians who provide technical support and proposals, including technical information, to
customers.
*2. LDO (Low Drop Out) regulators
Outputs a desired constant voltage from an input voltage. LDO, short for Low Drop Out, provides minimal
voltage conversion loss.
*3. Dark current
A small amount of current that flows through the entire circuit even when regulator output is OFF.
*4. SiC SBD
Schottky barrier diodes that use SiC (silicon carbide). A rectifier diode using SiC makes it suitable for hightemperature operation at a high voltage and provides superior high- speed performance with a Schottky
junction.
2
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
*5. SiC MOSFET
Metal Oxide Semiconductor Field Effect Transistor utilizing SiC. A MOSFET that uses SiC supports hightemperature operation at high voltage and is suitable for use as a switching element.
Overview of Performance by Segment
<ICs>
Consolidated net sales for the first six months of the year ending March 31, 2013 were 73,239 million yen (a
decrease of 9.5 percent from the first six months of the year ended March 31, 2012), and segment losses for the period
were 3,637 million yen (segment losses for the first six months of the year ended March 31, 2012 were 168 million
yen).
In the digital AV equipment segment, sales of lens controller driver ICs for digital cameras and system power ICs
increased. In the flat screen TV sector, system power ICs and timing controller ICs (*6) for LCD panels trended
upward, but the effects were short-lived and severe conditions persisted compared with the first six months of the
previous year. The demand for smartphones was strong, but extreme price competition, coupled with the effects of a
sluggish mobile phone market, continued the sparse demand for LED driver ICs and interface ICs. For gaming
consoles, recovery centered on power ICs and production started on new models for the summer. For personal
computers, sales of motor driver ICs for fan motors and optical disks increased, but overall sales were slow, including
sales of power supply ICs. For the automotive components market, sales of LED driver ICs for headlights and rear
lights, and several power supply ICs were robust. In the industrial equipment market, sales of general-purpose ICs
were strong, but the demand for sensor-related ICs and display driver ICs for smart meters were sluggish. In the
general-purpose sector, sales of EEPROMs (*7) and RESET ICs (*8) were on the rise, but then fell in the second half
of the period.
At LAPIS Semiconductor Co., Ltd., a ROHM Group company, sales of low power consumption microcontrollers
for the security market and display driver ICs for the automotive sector were strong and new lithium ion battery
protection ICs enjoyed brisk sales, but the demand for P2ROM*9 for the entertainment market significantly
decreased.
Regarding production systems, ROHM continued efforts to improve production efficiency in pre- and postprocesses, and enhanced the BCM (Business Continuity Management) system against risks such as disasters by
sharing production lines with LAPIS Semiconductor Co., Ltd.
*6. Timing controller ICs
ICs that output the timing pulse necessary to display video on liquid crystal panels.
*7. EEPROMs
Non-volatile memory that erases or rewrites data electrically (voltage) and can retain data even when the power
is shut OFF.
*8. RESET ICs
ICs that output reset signals to prevent operation while power is ON until the voltage reaches the normal level
in order to prevent malfunctions due to insufficient voltage.
*9. P2ROM(Production Programmed ROM)
Non-volatile memory developed by LAPIS Semiconductor Co., Ltd. Products are shipped after the customer’s
program and data are written into memory at the factory. It is often used for gaming consoles, and features a
shorter turnaround time (TAT) compared to conventional mask ROMs.
<Discrete Semiconductor Devices>
Consolidated net sales for the first six months of the year ending March 31, 2013 were 50,854 million yen (a
decrease of 9.4 percent from the first six months of the year ended March 31, 2012), and segment profits were 5,443
million yen (a decrease of 32.5 percent from the first six months of the year ended March 31, 2012).
In the diode and transistor segments, sales were down as inventory for flat screen TVs went through an adjustment
and recovery from the flooding in Thailand died down, even in the automotive components market.
SiC diodes and MOSFETs, which ROHM began selling as next-generation high efficiency devices in 2010, saw an
increase in sales due to an enhanced product lineup as the company started mass-production of full SiC modules in
March 2012.
Regarding LEDs, sales of red, green, and white LEDs were strong but sales lagged after the summer.
Regarding laser diodes, sales of dual-wavelength pulsation laser diodes for CD/DVD (*10) and others increased.
3
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
Regarding production systems, ROHM continued to improve production efficiency at individual group factories in
Thailand, the Philippines, and Tianjin, China, and made considerable efforts to enhance its BCM (Business
Continuity Management) system.
*10. Dual-wavelength pulsation laser diodes for CD/DVD
Self-pulsation-type dual-wavelength laser diodes in which a single element generates two lasers, a 780nm
beam for playing CDs and a 650nm type for playing DVDs.
<Other>
Consolidated net sales for the first six months of the year ending March 31, 2013 were 26,659 million yen (a
decrease of 3.6 percent from the first six months of the year ended March 31, 2012), and segment losses were 299
million yen (segment profits for the first six months of the year ended March 31, 2012 were 715 million yen).
In the resistor category, sales gradually recovered from the damage caused by the flooding in Thailand, but
compact resistors including the 0603 and 0402 sizes, which saw a favorable increase in sales for mobile phones,
entered an adjustment phase, reducing overall sales.
Tantalum capacitors bounced back from sluggish sales by expanding market share, and recovering from the
damage caused by the flooding in Thailand, however not to the levels of the previous fiscal year.
With optical modules, sales of infrared LED sensors for smartphones increased in the first half period, but entered
an adjustment phase in the second half.
Regarding LED lighting products, demand and sales drastically increased due to growing energy-saving concerns.
In the power module category, power source modules for LED lighting increased sales, and sales were strong
overall.
Regarding thermal printheads, sales for mini-printers recovered, but remained unchanged from the first six months
of the previous fiscal year.
In the medical field, sales of trace blood test systems were strong.
Regarding production systems, ROHM continued to strengthen production control systems and BCM (Business
Continuity Management), enhance production efficiency, and reduce costs at group factories in Thailand, the
Philippines, Dalian and Tianjin, China.
It should be noted that the above sales are for external customers.
(2) Qualitative information regarding consolidated financial conditions
Analysis of status of assets, liabilities, net assets and cash flow
During the first six months of the year ending March 31, 2013, total assets decreased by 39,564 million yen from
the previous fiscal year, amounting to 697,762 million yen. The main factors behind the decrease were as follows:
other current assets decreased by 31,863 million yen (including accrued insurance coverage of 30,070 million yen),
investment securities decreased by 7,868 million yen, and marketable securities decreased by 4,483 million yen. On
the other hand, notes and accounts receivable trade increased by 3,575 million yen.
Liabilities decreased by 19,702 million yen from the previous fiscal year, amounting to 83,344 million yen. The
main causes were that accounts payable decreased by 7,782 million yen, deferred tax liabilities decreased by 3,452
million yen, notes and accounts payable trade decreased by 3,396 million yen, and, allowance for restructuring
expenses decreased by 1,937 million yen respectively.
Net assets decreased by 19,862 million yen from the previous fiscal year, amounting to 614,418 million yen. The
main causes were decreases in foreign currency translation adjustments by 13,553 million yen and shareholders'
equity by 3,407 million yen, and valuation differences of available-for-sale securities by 2,902 million yen.
Consequently, equity ratio increased from the 86.0 percent of the previous fiscal year to 88.0 percent.
Cash flow status for the first six months of the year ending March 31, 2013 is as follows.
Cash flow from operating activities in the first six months of the year ending March 31, 2013 was a plus of 35,540
million yen as profits increased 19,244 million yen from the same period of the previous year (a plus of 16,296
million yen). This was mainly attributed to a series of positive factors to note insurance proceeds that did not exist in
the same period of the previous year, and the net loss before taxes turning into a profit. The contributing negative
factors were an impairment loss, which occurred in the first six months of the previous year but did not exist in the
first six months of the current fiscal year, and the amount of accounts payable changing from an increase to a
decrease.
Cash flow from investing activities recorded a minus of 50,464 million yen as expenses increased by 29,536
million yen from the first six months of the year ended March 31, 2012 (a minus of 20,928 million yen). This was
attributed to the time deposits changing from a decrease to an increase and an increase in expenses due to the
acquisition of tangible fixed assets, which had negative effects, and a decrease in expenses due to the purchase of
marketable securities and investment securities, which had a positive effect.
4
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
Cash flow from financing activities was a minus of 3,366 million yen as expenses decreased by 3,772 million yen
from the first six months of the previous fiscal year (a minus of 7,138 million yen). This was mainly attributed to a
decrease in dividend payments, which had a positive effect.
After adding a decrease due to exchange rate conversion differences, which decreased by 6,569 million yen, to the
above factors, cash and cash equivalents for the first six months of the current fiscal year decreased by 24,859 million
yen from the year ended March 31, 2012, amounting to 183,885 million yen.
(3) Qualitative information regarding consolidated business results forecast
As for the world economy, in the U.S., favorable signs started to show with an improvement in the employment
situation and the bottoming-out of the housing market, but the overall market is still in a volatile state. In Europe, in
addition to financial and monetary problems, the German economy, which had maintained a relatively robust status
until now, has begun to show signs of adjustment, thus the overall economy in Europe remains in severe shape. In
Asia, the overall economy of the region is growing slowly as economic growth in China slowed down. Growth has
been affected by the slowing economic situations in developed countries. Japan seems to be in a recession as various
economic indexes are getting worse. Thus, the economic situation around the globe is expected to remain severe.
In the electronics market, the overall market excluding the fields of smartphones and tablet PCs, which have
maintained robust sales, has remained sluggish. The automotive electronics market, which enjoyed robust sales,
seems to be entering an adjustment phase, thus conditions are considered to be extremely tough for a while and the
outlook on the world economy remains very unclear.
Under these circumstances, the ROHM Group continued to develop new products in the fields of power devices
including SiC devices, sensor devices, and LED related products, and introduced new products onto the market in a
timely manner. With these schemes, the group will continue to make the utmost efforts to expand share in the
automotive and industrial instruments markets, where long-term growth is expected, and strengthen customer support
systems in overseas markets, while thoroughly rationalizing production systems and decreasing costs. The group will
also make the utmost effort to enhance sales in new fields such as the distribution of micro-blood analysis systems in
Europe. Furthermore, in order to recover business performance amid intensifying global competition, ROHM will
reorganize business by restructuring production systems, optimizing group staff and endeavoring to improve
corporate values.
In consideration of the above-mentioned situations, we will revise our consolidated business forecast for the year
ending on March 31, 2013 as follows.
Business results forecast for the year ending March 31, 2013 (Consolidated)
Net sales
291,000 million yen
(Decrease by 4.5 percent from the first six months of the previous fiscal year)
Operating loss
1,500 million yen
(Decrease by 76.4 percent from the first six months of the previous fiscal year)
Ordinary loss
300 million yen (Decrease by 95.9 percent from the first six months of the previous fiscal year)
Net loss
11,000 million yen
The forecasts are based on an exchange rate of 78 yen to US$1.
2. Items regarding summary information (Note)
(1) Major changes in subsidiaries during the first six months of the current fiscal year
None
(2) Application of specific accounting procedure for compiling consolidated financial statement
None
(3) Changes in accounting policies, changes in accounting estimates, and restatement of revisions
None
5
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
3. Consolidated quarterly financial statements
(1) Consolidated quarterly balance sheets
(Unit: millions of yen)
End of the accounting year
ended March 31, 2012
(March 31, 2012)
Assets
Current assets
Cash and time deposits
Notes and accounts receivable trade
Marketable securities
Commodities and products
Products in progress
Raw materials and inventories
Prepaid pension cost
Deferred tax assets
Refundable income taxes
Others
Allowance for doubtful accounts
First six months of the year
ending March 31, 2013
(September 30, 2012)
211,199
67,393
15,618
24,366
38,508
30,652
2,250
1,369
2,887
40,474
-265
212,434
70,968
11,135
23,272
41,798
28,134
2,241
1,046
3,035
8,611
-320
434,457
402,357
208,252
460,311
40,600
79,791
20,015
-563,585
207,583
462,661
42,954
79,820
22,186
-569,238
245,386
245,968
5,561
6,049
4,287
5,275
Total intangible fixed assets
11,610
9,562
Investments and other assets
Investment securities
Deferred tax assets
Others
Allowance for doubtful accounts
39,886
1,735
4,784
-533
32,018
1,533
6,853
-531
45,872
39,873
302,869
295,405
737,326
697,762
Total current assets
Fixed assets
Tangible fixed assets
Buildings and structures
Machinery, equipment and vehicles
Tools and furniture
Land
Construction in progress
Accumulated depreciation
Total tangible fixed assets
Intangible fixed assets
Goodwill
Others
Total investments and other assets
Total fixed assets
Total assets
6
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
(Unit: millions of yen)
End of the accounting year
ended March 31, 2012
(March 31, 2012)
Liabilities
Current liabilities
Notes and accounts payable trade
Other accounts payable
Accrued income taxes
Deferred tax liabilities
Allowance for restructuring expenses
Allowance for disaster loss
Others
Total current liabilities
Long-term liabilities
Deferred tax liabilities
Liabilities for retirement benefits
Others
Total long-term liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock-at cost
Total shareholders' equity
Other comprehensive income
Net unrealized gain on available-for-sale securities
Foreign currency translation adjustments
Total other comprehensive income
Minority interests
Total net assets
Total of liabilities and net assets
7
First six months of the year
ending March 31, 2013
(September 30, 2012)
23,979
29,168
1,551
1,227
2,056
61
16,291
20,583
21,386
2,049
756
119
23
14,569
74,337
59,488
18,899
7,700
2,109
15,447
6,839
1,568
28,709
23,855
103,046
83,344
86,969
102,403
589,999
-50,084
86,969
102,403
586,594
-50,085
729,288
725,881
3,780
-99,086
878
-112,639
-95,306
-111,760
297
297
634,280
614,418
737,326
697,762
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
(2) Consolidated quarterly statement of income and consolidated quarterly statement of
comprehensive income
(Consolidated quarterly statement of income)
(First six months of the year ending March 31, 2013)
(Unit: millions of yen)
First six months of the year
ending March 31, 2013
(From April 1, 2012
To September 30, 2012)
First six months of the year
ended March 31, 2012
(From April 1, 2011
To September 30, 2011)
Net sales
Cost of sales
164,730
109,931
150,753
108,358
Gross profit
54,799
42,395
Selling, general and administrative expenses
44,861
39,752
9,937
2,642
573
623
647
926
Total non-operating income
1,196
1,573
Non-operating expenses
Foreign currency exchange loss
Others
4,383
105
3,786
78
Total non-operating expenses
4,488
3,864
6,645
351
264
-
597
2
388
2,789
862
3,181
3
87
9,143
-
112
443
-
3
50
-
1,061
Operating income
Non-operating income
Interest income
Others
Ordinary income
Extraordinary gains
Gain on sale of fixed assets
Gain on sale of investment securities
Gain on insurance adjustments
Total extraordinary gains
Extraordinary losses
Loss on sale/disposal of fixed assets
Abandonment loss on fixed assets
Impairment loss
Loss on reduction of fixed assets
Loss on revaluation of investment securities
Loss on revaluation of affiliate companies’ stocks
Loss from provision for product warranty
3
1,551
-
9,791
2,670
Income (-loss) before income taxes
-2,283
862
Income taxes-current
Income taxes-deferred
3,011
-3,138
3,197
-2,169
-126
1,027
-2,156
-165
Total extraordinary losses
Total income taxes
Net loss before minority interests or losses adjustments
Minority interest
Net loss
8
2
6
-2,158
-171
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
(Consolidated quarterly statement of comprehensive income)
(First six months of the year ending March 31, 2013)
(Unit: millions of yen)
First six months of the year
ended March 31, 2012
(From April 1, 2011
To September 30, 2011)
Net loss before minority interests or losses adjustments
Other comprehensive income
Valuation differences of available-for-sale securities
Other valuation differences of foreign exchange
translations
Total other comprehensive income
Comprehensive Income
(breakdown)
Comprehensive Income Attributable to Parent
Company Shareholders
Comprehensive Income Attributable to Minority
Shareholders
9
First six months of the year
ending March 31, 2013
(From April 1, 2012
To September 30, 2012)
-2,156
-165
-3,982
-2,901
-20,639
-13,558
-24,621
-16,459
-26,778
-16,625
-26,741
-16,625
-36
0
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
(3) Consolidated quarterly statements of cash flows
(Unit: millions of yen)
First six months of the year
ending March 31, 2013
(From April 1, 2012
To September 30, 2012)
First six months of the year
ended March 31, 2012
(From April 1, 2011
To September 30, 2011)
Operating Activities
Income (-loss) before income taxes and minority
interests
Depreciation
Impairment loss
Gain on insurance adjustments
Amortization of goodwill
Increase (-decrease) in net liability for retirement
benefits
Decrease (-increase) in prepaid pension cost
Increase (-decrease) in allowance for restructuring
expenses
Increase (-decrease) in allowance for disaster losses
Interest and dividends income
Foreign currency exchange loss (-gain)-net
Revaluation loss (-gain) on marketable securities and
investment securities
Decrease (-increase) in notes and accounts receivable trade
Decrease (-increase) in inventories
Increase (-decrease) in notes and accounts payabletrade
Increase (-decrease) in other accounts payable
Others -net
Proceeds from insurance income
Interest and dividends -received
Interest expenses
Income taxes -refunded (-paid)
-2,283
862
17,010
9,143
-597
3,531
17,688
-
-215
-802
5
9
-6
-1,936
-773
-800
3,746
-37
-857
2,333
556
1,551
-7,032
-5,281
-1,535
-2,324
3,342
-1,569
-1,860
-1,143
-
799
-27
-5,560
-2,881
783
31,722
822
-4
-2,752
16,296
35,540
5,615
-18,554
-8,645
-5,762
2,603
2,825
-21,444
334
606
-28,530
14
-457
-20,928
-50,464
-1
-7,008
-128
-1
-3,234
-130
-7,138
-3,366
Effect of Exchange Rate Changes on Cash and Cash
Equivalents
-11,380
-6,569
Net Increase(-Decrease) in Cash and Cash Equivalents
-23,150
-24,859
Cash and Cash Equivalents at Beginning of the Fiscal
Year
230,721
208,745
Cash and Cash Equivalents at End of the First Six Months
207,570
183,885
Net cash used by operating activities
Investing Activities
Decrease (-increase) in time deposits
Purchase of marketable securities and investment
securities
Revenue from selling and paying-off of marketable
securities and investment securities
Purchases of tangible fixed assets
Proceeds from sales of tangible fixed assets
Others -net
Net cash used in investing activities
Financing Activities
Purchases of treasury stocks
Dividends paid
Others -net
Net cash used in financing activities
10
-2,789
1,003
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
(4) Note on going concern
No applicable items
(5) Note in case of significant change in amount of shareholders’ equity
No applicable items
(6) Segment information etc.
[Segment information]
First six months of the year ended March 31, 2012 (From April 1, 2011 to September 30, 2011)
1. Information on net sales, profits or losses by individual reportable segments
(Unit: millions of yen)
Reportable segments
ICs
Discrete
semiconductor
devices
Subtotal
Others
(Note 1)
Total
Amount on
consolidated
income
statement
(Note 3)
Adjusted
amount
(Note 2)
Sales
Sales to customers
80,952
56,132
137,084
27,646
164,730
-
164,730
Inter-segment sales
or transfer
1,053
518
1,572
0
1,573
-1,573
-
82,006
56,651
138,657
27,646
166,304
-1,573
164,730
-168
8,062
7,894
715
8,610
1,327
9,937
Total
Segment profit (-loss)
(Note) 1. “Others” is an operational segment that is not included in reportable segments, consisting of business in
resistors, printheads, optical modules, tantalum capacitors, power modules, and lightings (LEDs).
2. The adjusted amount of the segment profit or loss, 1,327 million yen, mainly includes general
administrative expenses of minus 521 million yen that do not attribute to the segment, and
the settlement adjusted amount of 1,848 million yen, which is not allocated to the segment (such as
adjustment for retirement benefits).
3. For segment profits or loss, adjustments are made using the operating income of the consolidated
quarterly statements of income.
2. Information on impairment loss of fixed assets or goodwill of individual reportable segments
<Significant impairment loss on fixed assets>
At the time that OKI Semiconductor Co., Ltd. (the company changed its name to “LAPIS Semiconductor Co.,
Ltd. on October 1, 2011) was purchased, ROHM reduced the book value of account “good-will,” which
accrued in the “ICs” segment, to the recoverable value and recorded the decrease as an impairment loss. The
balance of impairment loss in the first six-month period of the year ending March 31, 2013 was 8,622 million
yen.
<Significant change in the balance of goodwill>
During the consolidated period of the six months of the year ending March 31, 2013, ROHM has implemented
assets impairment accounting procedures on “goodwill,” and such procedure was described in “Significant
impairment loss in fixed assets.”
11
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
First six months of the year ending March 31, 2013 (From April 1, 2012 to September 30, 2012)
Information on net sales, profits or losses by individual reportable segments
(Unit: millions of yen)
Reportable segments
ICs
Discrete
semiconductor
devices
Subtotal
Others
(Note 1)
Total
Amount on
consolidated
income
statement
(Note 3)
Adjusted
amount
(Note 2)
Sales
Sales to customers
73,239
50,854
124,094
26,659
150,753
-
150,753
Inter-segment sales
or transfer
1,144
481
1,625
0
1,625
-1,625
-
74,383
51,336
125,719
26,659
152,379
-1,625
150,753
-3,637
5,443
1,805
-299
1,506
1,136
2,642
Total
Segment profit (-loss)
(Note) 1. “Others” is an operational segment that is not included in reportable segments, consisting of business in
resistors, printheads, optical modules, tantalum capacitors, power modules, and lightings.
2. The adjusted amount of the segment profit or loss, 1,136 million yen, mainly includes general
administrative expenses of minus 213 million yen that do not attribute to the segment, and the settlement
adjusted amount of 1,350 million yen, which is not allocated to the segment
(such as adjustment for retirement benefits).
3. For segment profits or loss, adjustments are made using the operating income of the consolidated quarterly
statements of income.
12
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
4. Supplementary information
Production, orders and actual sales status
(1) Actual production
(Unit: millions of yen)
First six months of the year
ended March 31, 2012
(From April 1, 2011
To September 30, 2011)
First six months of the year
ending March 31, 2013
(From April 1, 2012
To September 30, 2012)
ICs
77,388
74,179
Discrete semiconductor devices
53,692
54,393
Total of reportable segments
131,081
128,573
Others
26,526
28,339
Total
157,607
156,912
(Notes) The amounts above are calculated based on the average sale prices for each fiscal year and consumption tax and
the like are excluded.
(2) Orders
(Unit: millions of yen)
First six months of the year
ended March 31, 2012
(From April 1, 2011
To September 30, 2011)
Order received
First six months of the year
ending March 31, 2013
(From April 1, 2012
To September 30, 2012)
Order backlog
Order received
Order backlog
ICs
78,220
24,004
70,000
20,363
Discrete semiconductor devices
53,450
15,557
50,577
13,972
Total of reportable segments
131,670
39,561
120,577
34,336
Others
27,669
8,738
26,858
7,611
Total
159,340
48,300
147,435
41,947
(Notes) The above amount does not contain consumption tax and the like.
13
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2013
(3) Actual sales
Actual sales by segment (domestic)
(Unit: millions of yen)
First six months of the year
ended March 31, 2012
(From April 1, 2011
To September 30, 2011)
Amount
First six months of the year
ending March 31, 2013
(From April 1, 2012
To September 30, 2012)
Domestic Ratio
Amount
Domestic Ratio
ICs
33,528
41.4%
27,948
38.2%
Discrete semiconductor devices
19,149
34.1
17,689
34.8
Total of reportable segments
52,677
38.4
45,638
36.8
Others
8,910
32.2
9,833
36.9
Total
61,588
37.4
55,471
36.8
Actual sales by segment (overseas)
(Unit: millions of yen)
First six months of the year
ended March 31, 2012
(From April 1, 2011
To September 30, 2011)
Amount
First six months of the year
ending March 31, 2013
(From April 1, 2012
To September 30, 2012)
Overseas Ratio
Amount
Overseas Ratio
ICs
47,423
58.6%
45,291
61.8%
Discrete semiconductor devices
36,983
65.9
33,165
65.2
Total of reportable segments
84,407
61.6
78,456
63.2
Others
18,735
67.8
16,825
63.1
Total
103,142
62.6
95,282
63.2
Actual sales by segment (total)
(Unit: millions of yen)
First six months of the year
ended March 31, 2012
(From April 1, 2011
To September 30, 2011)
Amount
First six months of the year
ending March 31, 2013
(From April 1, 2012
To September 30, 2012)
Percentage
Distribution
Amount
Percentage
Distribution
ICs
80,952
49.1%
73,239
48.6%
Discrete semiconductor devices
56,132
34.1
50,854
33.7
Total of reportable segments
137,084
83.2
124,094
82.3
Others
27,646
16.8
26,659
17.7
Total
164,730
100.0
150,753
100.0
(Note) The above amounts are sales to external customers and do not contain consumption tax and the like.
14
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