ROHM CO., LTD. Financial Highlights for the First Six Months... (From April 1, 2011 to September 30, 2011)

ROHM CO., LTD. Financial Highlights for the First Six Months... (From April 1, 2011 to September 30, 2011)
ROHM CO., LTD. Financial Highlights for the First Six Months of the Year Ending March 31, 2012
(From April 1, 2011 to September 30, 2011)
November 9, 2011
1. Consolidated Financial Results
(Figures are rounded down to the nearest million yen. Smaller fractions are rounded off.)
Year ending
March
31,2012
Year ended
March
31,2011
Increase/decrease from same
period of previous year
First six
months
First six
months
Amount Percentage
Year ended
March
31,2011
Year ending March
31,2012 (Projected)
Annual
Annual
Increase/decrease
from previous year
-9.9%
Net sales
Millions of
yen
164,730
181,355
-16,625
-9.2%
341,885
308,000
Cost of sales
Millions of
yen
109,931
113,942
-4,011
-3.5%
219,149
224,000
Selling, general and administrative
expenses
Millions of
yen
44,861
44,046
+815
+1.9%
89,999
87,000
Operating income
Millions of
yen
9,937
23,366
-13,429
-57.5%
32,736
-3,000
(6.0%)
(12.9%)
(-6.9%)
(9.6%)
(-1.0%)
Millions of
yen
6,645
17,447
-10,802
26,805
-5,300
(4.0%)
(9.6%)
(-5.6%)
Millions of
yen
-2,158
9,862
-12,020
(-1.3%)
(5.4%)
(-6.7%)
Basic net income per share
yen
-20.02
90.01
-110.03
Ratio of net income to equity
%
1.4
Ordinary income to total assets
%
3.4
(Margin)
Ordinary income
(Margin)
Net income
(Margin)
Total assets
Millions of
yen
Net assets
Millions of
yen
Equity ratio
%
Net assets per share
yen
Capital expenditures
Millions of
yen
Depreciation
Millions of
yen
Research and development costs
Millions of
yen
Net financial revenue
Millions of
yen
Foreign currency exchange gain/loss
Millions of
yen
710,857
-61.9%
-
-
(7.8%)
(-1.7%)
9,632
-18,000
(2.8%)
(-5.8%)
88.07
-166.95
-
-
-
774,958
-64,101
-8.3%
759,988
635,011
684,166
-49,155
-7.2%
668,778
89.1
88.0
+1.1
5,871.89
6,227.67
-355.78
-5.7%
6,184.91
17,422
18,197
-775
-4.3%
40,042
48,500
+21.1%
17,010
18,562
-1,552
-8.4%
37,216
38,000
+2.1%
19,422
18,269
+1,153
+6.3%
37,898
38,000
+0.3%
657
+115
+17.6%
1,385
(loss) 6,698
(gain) 2,315
772
(loss) 4,383
87.7
(loss) 7,152
(Second half
of the year)
Foreign exchange rate
(Average yen-dollar rate)
(Note)
yen/US$
79.74
88.85
-9.11
-10.3%
85.82
78.00
As the projected data is based on information that ROHM is currently acquiring as well as specific prerequisites judged as legitimate, actual data
may be considerably different due to various factors.
Contact: Public Relations and Investor Relations Dept., ROHM CO., LTD.
21, Saiin Mizosaki-cho, Ukyouku, Kyoto 615-8585 +81-75-311-2121
Note: 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.
- Financial Highlights 1 -
1. Consolidated Financial Results (Continued from the previous page)
(Figures are rounded down to the nearest million yen. Smaller fractions are rounded off.)
Year ending
March
31,2012
Year ended
March
31,2011
First six
months
First six months
Amount
Percentage
80,952
95,310
-14,358
-15.1%
(Japan)
(33,528)
(37,470)
(-3,942)
(Asia)
(42,178)
(50,430)
(Americas)
(3,873)
(Europe)
Increase/decrease from same
period of previous year
Year ended
March
31,2011
Year ending March
31,2012 (Projected)
Annual
Increase/decre
ase from the
previous year
176,672
152,846
-13.5%
(-10.5%)
(70,825)
(61,674)
-12.9%
(-8,252)
(-16.4%)
(93,284)
(81,272)
-12.9%
(5,417)
(-1,544)
(-28.5%)
(8,888)
(7,363)
-17.2%
(1,372)
(1,992)
(-620)
(-31.1%)
(3,674)
(2,536)
-31.0%
56,132
60,108
-3,976
-6.6%
113,543
101,390
-10.7%
(Japan)
(19,149)
(18,855)
(+294)
(+1.6%)
(37,849)
(34,352)
-9.2%
(Asia)
(32,796)
(36,195)
(-3,399)
(-9.4%)
(66,193)
(59,241)
-10.5%
(Americas)
(1,939)
(2,680)
(-741)
(-27.6%)
(4,752)
(3,577)
-24.7%
(Europe)
(2,246)
(2,376)
(-130)
(-5.5%)
(4,747)
(4,218)
-11.2%
27,646
25,935
+1,711
+6.6%
51,669
53,763
+4.1%
(8,910)
(5,973)
(+2,937)
(+49.2%)
(13,957)
(17,533)
+25.6%
(15,918)
(16,478)
(-560)
(-3.4%)
(31,439)
(30,554)
-2.8%
(998)
(1,533)
(-535)
(-34.9%)
(2,416)
(2,079)
-13.9%
(1,817)
(1,949)
(-132)
(-6.8%)
(3,855)
(3,596)
-6.7%
164,730
181,355
-16,625
-9.2%
341,885
308,000
-9.9%
(Japan)
(61,588)
(62,299)
(-711)
(-1.1%)
(122,632)
(113,560)
-7.4%
(Asia)
(90,894)
(103,104)
(-12,210)
(-11.8%)
(190,917)
(171,068)
-10.4%
(Americas)
(6,811)
(9,631)
(-2,820)
(-29.3%)
(16,056)
(13,021)
-18.9%
(Europe)
(5,436)
(6,319)
(-883)
(-14.0%)
(12,278)
(10,350)
-15.7%
6.8
8.1
-1.3
8.6
Audio
9.9
10.6
-0.7
10.6
Home appliance
2.7
2.5
+0.2
2.6
Other consumer products
12.1
13.5
-1.4
12.4
Computer and OA
12.0
12.0
0.0
11.6
Telecommunications
11.3
11.9
-0.6
12.2
Automotive
11.7
10.2
+1.5
11.1
3.5
2.8
+0.7
2.9
Subassemblies
16.1
14.4
+1.7
15.5
Others
13.9
14.0
-0.1
12.5
6,194
7,887
-1,693
-21.5%
14,913
24,900
+67.0%
Discrete semiconductor
devices
4,667
7,813
-3,146
-40.3%
16,872
12,900
-23.5%
Others
3,415
1,928
+1,487
+77.1%
5,426
5,800
+6.9%
Sales and Administrative
Expenses Division
3,145
568
+2,577
+453.7%
2,829
4,900
+73.2%
17,422
18,197
-775
-4.3%
40,042
48,500
+21.1%
Annual
Sales by segment and geographical region
Millions of
yen
ICs
Discrete semiconductor
devices
Others
(Japan)
(Asia)
(Americas)
(Europe)
Total
Sales by application
Visual
%
Other industrial products
Capital expenditures by segment
Millions of
yen
ICs
Total
(Notes) The above amounts are sales to external customers.
- Financial Highlights 2 -
2. Others
(Percentage figures are rounded to one decimal place.)
Interim dividends
Yen
(Annual cash dividends)
Year ending
March
31,2012
Year ended
March
31,2011
First six
months
First six
months
30.0
Increase/decrease from same
period of previous year
Percentage
65.0
Annual
Annual
(130.0)
(60.0)
-35.0
(Yen)
Shareholders
Year ending
March
31,2012
(Projected)
Year ended
March
31,2011
29,757
29,126
+631
+2.2%
28,577
Financial institution shareholding ratio
%
21.43
24.72
-3.29
21.76
Foreign shareholding ratio
%
49.78
47.55
+2.23
49.03
Japan
5,925
5,882
+43
+0.7%
5,833
Overseas
16,318
15,704
+614
+3.9%
15,727
Total
22,243
21,586
+657
+3.0%
21,560
(R&D employees)
(3,142)
(2,830)
(+312)
(+11.0%)
(2,900)
48
53
-5
50
(Japan)
(12)
(15)
(-3)
(15)
(Overseas)
(36)
(38)
(-2)
(35)
6
6
0
6
(0)
(0)
(0)
(0)
1
1
0
1
(0)
(0)
(0)
(0)
Employees
Consolidated subsidiaries
Affiliated companies
(Companies accounted for by equity method)
Non-consolidated subsidiaries
(Companies accounted for by equity method)
- Financial Highlights 3 -
Financial Report for the First Six Months of the Year Ending March 31, 2012
[Based on Japanese Standard] (Consolidated)
November 9, 2011
Stock Exchange Listings Tokyo, Osaka
Listed Company Name: ROHM CO., LTD
Code No.:
6963
URL http://www.rohm.co.jp
Company Representative: (Title) President
(Name) Satoshi Sawamura
Contact Person:
(Title) Director, Accounting & Finance Headquarters (Name) Eiichi Sasayama
TEL +81-75-311-2121
Scheduled Date for Submitting the Quarterly Financial Reports:
November 11, 2011
Scheduled Dividend Payment Date:
December 2, 2011
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, 2012 (From April 1, 2011 to September 30, 2011)
(1) Consolidated Results of Operations (Accumulated total)
(The percentages [%] represent changes from the first six months of the previous year.)
Net sales
Operating income
Millions of yen
% Millions of yen
% Millions of yen
First six months of the year
ending March 31, 2012
164,730
-9.2
9,937
-57.5
6,645
First six months of the year
ended March 31, 2011
181,355
9.1
23,366
554.6
17,447
(Note) Comprehensive Income
Net income for the first six
months of the year ending
March 31, 2012
Ordinary income
% Millions of yen
-61.9
%
-2,158
-
9,862
-
-
First six months of the year ending March 31, 2012: -26,778 million yen (—%)
First six months of the year ended March 31, 2011: -16,143 million yen (—%)
Basic net income per share
Diluted net income per share
Yen
Yen
First six months of the year
ending March 31, 2012
-20.02
-
First six months of the year
ended March 31, 2011
90.01
-
(2) Consolidated Financial Position
Total assets
Net assets
Millions of yen
Shareholder’s equity ratio
Millions of yen
%
First six months of the year
ending March 31, 2012
710,857
635,011
89.1
Year ended March 31, 2011
759,988
668,778
87.7
(Reference) Equity capital
First six months of the year ending March 31, 2012: 633,079 million yen
Year ended March 31, 2011: 666,831 million yen
2. Dividend Details
Dividend per share
End of the first quarter
Interim
Yen
End of the third quarter
Yen
Year ended March 31, 2011
-
65.00
Year ending March 31, 2012
-
30.00
End of year
Yen
Year ending March 31, 2012
(Estimates)
Annual
Yen
Yen
-
65.00
130.00
-
30.00
60.00
(Note) Revision to recently disclosed dividend estimates: Yes
3. Consolidated Business Results Forecast for the Year Ending March 31, 2012 (From April 1, 2011 to March 31, 2012)
(The percentages [%] shown for Fiscal 2011 figures represent changes from the previous fiscal year.)
Net sales
Operating income
Ordinary income
Millions of yen
% Millions of yen
% Millions of yen
Fiscal 2012
308,000
-9.9
-3,000
-5,300
(Note) Revision to recently disclosed figures for consolidated business results forecast: Yes
Basic net income
per share
Net income
% Millions of yen
-18,000
%
-
yen
-166.95
4. Others
(1) Major Changes in Subsidiaries during the first six months of the Year Ending March 31, 2012
(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, Procedures, Indication Methods, Etc.
[1] Changes according to revision of accounting standards:
None
[2] Other changes:
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)
First six months of the year ending March 31, 2012
113,400,000 shares
Year ended March 31, 2011
115,300,000 shares
)
)
[2] Year-end number of treasury stocks
First six months of the year ending March 31, 2012
5,584,686 shares
Year ended March 31, 2011
7,484,318 shares
[3] Average number of shares during the period (Accumulated total of the first six months)
First six months of the year ending March 31, 2012
107,815,464 shares
First six months of the year ended March 31, 2011
109,567,131 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
- Since the statement regarding the business results forecast accounted for in this financial report is based on current information
acquired by ROHM and specific legitimate prerequisites, actual business results may be considerably different due to various
factors. Regarding prerequisites for business results forecast and cautionary notes on using the business results forecast, 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, 2012 (Appendix).
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
Appendix
· Table of Contents
1. Qualitative information regarding consolidated business results, etc. for the first six months of this fiscal year ......... 2
(1) Qualitative information regarding consolidated business results.............................................................................. 2
(2) Qualitative information regarding consolidated financial conditions ....................................................................... 4
(3) Qualitative information regarding consolidated business results forecast ................................................................ 5
2. Items regarding summary information (Others) ............................................................................................................ 5
(1) Major changes in subsidiaries during the first six months of the year ending March 31, 2012 ................................ 5
(2) Application of specific accounting procedure for compiling consolidated financial statement ................................ 5
(3) Change in accounting methods, changes in accounting estimates, and redisplay of revision................................... 5
3. Consolidated quarterly financial statements ................................................................................................................... 6
(1) Consolidated quarterly balance sheets ...................................................................................................................... 6
(2) Consolidated quarterly statement of income and consolidated quarterly statement of comprehensive income........ 8
Consolidated quarterly statement of income ............................................................................................................ 8
Consolidated quarterly statement of comprehensive income ................................................................................... 9
(3) Consolidated quarterly statements of cash flows .................................................................................................... 10
(4) Note on going concern ............................................................................................................................................ 11
(5) Segment information etc. ........................................................................................................................................ 11
(6) Note in case of significant change in amount of shareholders’ equity .................................................................... 12
4. Supplementary information .......................................................................................................................................... 13
Production, orders and actual sales status..................................................................................................................... 13
* “Financial Highlights for the First Six Months of the Year Ending March 31, 2012” are attached separately as supplementary
briefing materials.
-1-
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
1. Qualitative information regarding consolidated business results, etc. for the first six months of this fiscal year
(1) Qualitative information regarding consolidated business results
Overall condition of business performance
During the first six months of the year ending on March 31, 2012, the world economy reversed into an adverse situation from the
recovery trend of the previous year due to the effects of the Tohoku Pacific Coast Earthquake, financial and monetary problems in
Europe, and spontaneous worldwide decline in stock values. By individual regions, in the US, due to continuing severe
unemployment condition, personal consumption and housing investment deteriorated. Consumer prices were also on the rise, thus
the overall economy remained in a state far from recovery.
In Europe, the financial crisis that started in Greece also weakened previously strong exports, while personal consumption turned
sluggish, and the unemployment rate continued to stay at a high level. These conditions kept the overall economy in a severe state.
In Asia, the overall economy was strong thanks to robust exports and personal consumption. However, amid mounting anxiety over
inflation and the effects of the Tohoku Pacific Coast Earthquake, the growth rate slowed down. In Japan, exports sank and personal
consumption fell considerably due to decreased production of automobiles on account of the earthquake. In the second half of the
year, the overall economy headed for recovery, but due to continuing severe unemployment, unchanging appreciation of the yen and
prolonged deflation, the overall economy was in a difficult situation.
Within the electronics industries, although smart phones and energy-saving related equipment, including LED lighting and solar
power generators, enjoyed solid sales, production and sales of electronics equipment slowed down, and markets for audio visual
equipment, game consoles, personal computers and flat-screen TVs were severely affected by the Tohoku Pacific Coast Earthquake
and worsening economy.
Consequently, the electronic component industry suffered from the harsh conditions as well.
In individual sectors, in Japan, production volume of audio-visual equipment, including digital still cameras, game consoles, and
automotive equipment drastically decreased due to the effects of supply chain interruptions and energy-saving measures that came
as a consequence of the Tohoku Pacific Coast Earthquake. After the summer, sales started recovering but did not reach a
full-fledged gain. Sales of flat-screen TVs entered an adjustment phase as the demand for purchasing TV sets came to a halt toward
the switch to digital terrestrial broadcasting, thus the market lost the previous momentum. In Asian regions, the growth of personal
computers and flat-screen TVs was slow as it was affected by the earthquake and the effects of worsening personal consumption in
Europe and the US. Sales of smart phones and tablet PCs were strong despite these factors. In the US, the telecommunication
infrastructure market and automotive market enjoyed robust sales, but the consumer- electronic equipment market, consisting
mainly of audio-visual equipment, deteriorated due to stagnated personal consumption. Market in Europe also deteriorated except
for telecommunication infrastructure and automotive segments.
Under these circumstances, the ROHM Group exerted itself to strengthen production lines of automotive and electronic equipment,
digital home appliances, IT and mobile equipment, and also enhanced sales by increasing the number of FAEs (*1) at individual
sales bases including in China. In addition, the group continued to strengthen its sales structure for non-Japanese customers by
establishing a new sales company in India, and proceeding with efforts to form a structure capable of responding to changes in
global markets.
The ROHM Group has also continued to develop eco-friendly devices as a way of contributing to a better global environment, and
has developed specific driver ICs for automotive LED rear lighting, head lights and daytime running lights. Furthermore, product
lineups of the “AGLED” series of home-use LED lighting equipment including LED ceiling lights were drastically enhanced with
the support of ROHM group company Maruzen Electric Co., Ltd. The group continued to focus on increasing sales of LED-related
devices and LED lighting whose markets are expanding rapidly as next-generation energy-saving lighting sources.
The ROHM Group also worked to strengthen partnership structures with OKI Semiconductor Co., Ltd., which ROHM purchased in
2008, SiCrystal AG, a German SiC wafer manufacture that ROHM purchased in 2009, and Kionix, Inc. of the US, which is a
MEMS acceleration sensor (*2) supplier, and worked continuously to augment the business synergy with existing ROHM Group
companies. As of October 1, 2011, “OKI Semiconductor Co., Ltd.” changed its corporate name to “Lapis Semiconductor Co., Ltd”,
and Maruzen Electric Co., Ltd. changed its corporate name to” AGLED Co., Ltd.” .
Under these circumstances, consolidated net sales in the first six months of the year ending March 31, 2012 were 164,730 million
yen (a decrease of 9.2 percent from the first six months of the year ended March 31, 2011), and operating profits were 9,937 million
yen (a decrease of 57.5 percent from the first six months of the year ended March 31, 2011) due to decreasing income and an
increase in sales cost ratio.
Ordinary income amounted to 6,645 million yen (a decrease of 61.9 percent from the first six months in the year ending March 31,
2011), after exchange losses. Besides, depletion loss from good-will accrued and the net loss of the first six months of the year
ending March 31, 2012 was 2,158 million yen (net profit of 9,862 million yen recorded in the first six months of the year ended
March 31, 2011).
*1. FAE (Field Applications Engineer)
Engineers and technicians who provide technical support and proposals including technical information to customers.
*2. MEMS acceleration sensors
Electronic device having a micro-electromechanical structure that mounts a sensor for measuring changes in speed on a
silicon chip by means of semiconductor micro fabrication technology.
-2-
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
Overview of performance in each segment
<ICs>
Consolidated net sales in the first six months of the year ending March 31, 2012 recorded 80,952 million yen (a decrease of 15.1
percent from the first six months of the year ended March 31, 2011), and segment losses for the period marked 168 million yen
(segment profits for the first six months of the year ended March 31, 2011 were 7, 190 million yen).
In digital audio and visual equipment segments, system power source ICs for digital still cameras and lens controller driver ICs
enjoyed robust sales. For flat-screen TVs, as replacement demand quieted down due to the Tohoku Pacific Coast Earthquake and
the switching to terrestrial digital broadcasting after the summer, power source ICs, speaker amplifiers and timing controllers
suffered from slowing sales. In the mobile phone market, system power source ICs and illumination sensor ICs recorded strong
sales, but sales of LED driver ICs for other mobile phones decreased. In the game console category, sales of voice generation
ADPCM decoder ICs (*3) and power supply ICs declined, due to continuing sluggish market conditions. In the personal computer
category, sales of fan motor driver ICs and power supply ICs were sluggish. For the automotive component market, in the first half
period, sales of power source ICs for car components and engine control units deteriorated, but after the summer, sales were strong
thanks to a recovery from the effects of the Tohoku Pacific Coast Earthquake. In the general-purpose equipment category, stepping
motor driver ICs (*4) continuously enjoyed strong sales, and EEPROMs also increased sales after the summer, but sales of LDO
regulators (*5) slowed down.
At OKI Semiconductor Co., Ltd. (now Lapis Semiconductor Co., Ltd.), sales of LCD driver ICs were strong, but sales of memory
ICs for amusement fell off.
With regards to production systems, ROHM continued to work on improving efficiency in pre- and post-processes, sharing
production lines with OKI Semiconductor Co., Ltd (now Lapis Semiconductor Co., Ltd.) and strengthening risk management
systems.
*3. Voice Generation ADPCM (Adaptive Differential Pulse Code Modulation) Decoder IC
An IC for demodulating voice-compressed data in the form of ADPCM (one of the systems for converting voice into
digital data, which, by digitalizing the difference with the data that was most recently digitalized, besides digitalizing
voices at regular time intervals, reduces the amount of data without losing sound quality) and for reproducing audio via
speakers.
*4. Stepping motor driver ICs
Motor driver ICs which drive stepping motors (motors that rotate a certain degree in accordance with the number of DC
pulses added)
*5. LDO (Low Drop Out) regulator
A circuit for outputting a desired constant voltage from a certain input voltage. LDO stands for Low Drop Out type,
which suffers minimal loss in conversion.
<Discrete semiconductor devices>
Consolidated net sales for the first six months of the year ending March 31, 2012 recorded 56,132 million yen (a decrease of 6.6
percent from the first six months of the year ended March 31, 2011), and segment profits were 8,062 million yen (a decrease of
35.3 percent from the first six months of the year ended March 31, 2011).
In the diode and transistor categories, high efficiency power MOSFETs enjoyed strong sales, but overall sales slowed down from
the effects of the Tohoku Pacific Cost Earthquake and sluggish flat-screen TV markets.
In the light emitting diode category, white LEDs mainly for LED lighting devices enjoyed robust sales. Sales of other LEDs slowed
down.
In the area of laser diodes, sales of dual wavelength pulsation lasers for CD/DVD (*6) increased.
In addition, ROHM strengthened its lineup of SiC diode transistor products, which the company began selling as next-generation
high-efficiency devices last year, and further proceeded with sales promotion activities.
ROHM also continued to improve production efficiency at individual group factories in Thailand, the Philippines, and Tianjin,
China, making efforts to enhance cost control power.
*6. Dual wavelength pulsation laser for CD/DVD
Dual wavelength laser diode of self-pulsation type in which a single element generates two lights, of 780 nm used in
playing CDs and 650 nm used in playing DVDs.
<Others>
Consolidated net sales for the first six months of the year ending March 31, 2012 marked 27,646 million yen (an increase of 6.6
percent from the first six months of the year ended March 31, 2011), and segment profits were 715 million yen (a decrease of 80.2
percent from the first six months of the year ended March 31, 2011).
In the resistors category, sales of super-small 0402 size resistors greatly increased, but overall sales slowed down due to the effects
of the Tohoku Pacific Coast Earthquake
-3-
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
In the tantalum capacitor category, sales numbers for mobile phone equipment decreased as well...
In the module product category, as the result of enhancing product line up of LED lighting module products, which have been
garnering attention, sales of power modules used in LED lighting and infrared reception modules for remote control steadily
increased.
Demand for lighting products (LED lighting) also increased as mounting demand for energy-saving products drastically increased
for straight tube type LED lights. Consequently, the sales were on the rise.
In the category of IrDA (*7) communication modules, sales for game consoles were strong.
In the print head category, sales were sluggish because of adjustments continuing in the mini-printer market.
In the LED display category, sales of dot matrix type displays slowed.
In the area of production systems, the ROHM Group continued to make the utmost efforts to strengthen production management
systems, to improve production efficiency, and to reduce costs at group factories in Thailand and Dalian, China.
*7. IrDA
Specification for receiving and sending signals via infrared ray. It is widely used for laptop computers and mobile
phones.
The net sales mentioned above are sales to 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, 2012, total assets decreased by 49,131 million yen from the previous year,
amounting to 710,857 million yen. The main factors behind the decrease are as follows: cash and time deposits decreased by
24,844 million yen, intangible fixed assets decreased by 13,808 million yen, tangible fixed assets by 7,654 million yen and market
securities decreased by 6,630 million yen.
Liabilities decreased by 15,363 million yen from the previous fiscal year, amounting to 75,846 million yen. The main causes are
long-term deferred tax liabilities decreased by 7,721 million yen and other accounts payable decreased by 6,047 million yen.
Net assets decreased by 33,767 million yen from the previous fiscal year, amounting to 635,011 million yen. Decreases in foreign
currency translation adjustments by 20,601 million yen and shareholders' equity by 9,169 million were the main causes.
Consequently, equity ratio increased from the 87.7 percent of the previous fiscal year to 89.1 percent.
Cash flow status for the first six months of the year ending March 31, 2012 is as follows.
Cash flow from operating activities in the first six month of the year ending March 31, 2012 was a plus of 16,296 million yen as
profits decreased 17,288 million yen from the same period of the previous year (a plus of 33,584 million yen). This is mainly
attributable to a series of negative factors in the net profits before taxes turning into a loss, a decrease in appreciation costs,
inventory asset changing from a decrease to an increase, and a smaller increased amount of accounts payable. The contributing
positive factors were an impairment loss, which did not exist in the same period of the previous year but accrued in the first six
months of the year ending March 31, 2012, and a smaller decreased amount of accounts payable.
Cash flow from investing activities recorded a minus of 20,928 million yen as expenses decreased by 3,456 million yen from the
first six months of the year ended March 31, 2011 (a minus of 24,384 million yen). This was attributed to the time deposits
changing from an increase to a decrease, which had a positive effect, and an increase in expenses due to the purchase of
marketable securities and investment securities, which had a negative effect.
Cash flow from financing activities was a minus of 7,138 million yen as expenses decreased by 81 million yen from the first six
months of the previous fiscal year (a minus of 7,219 million yen).
As a result of adding the effect of exchange rate changes on cash and cash equivalents, which decreased by 11,380 million yen, to
the above factors, cash and cash equivalents decreased by 23,150 million yen from the year ended March 31, 2011, amounting to
207,570 million yen.
-4-
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
(3) Qualitative information regarding consolidated business results forecast
The world economy continued to be afflicted by sluggish consumption and severe environment conditions due to mounting concern
over the financial situation in Europe. The business outlook has become even more opaque. In Japan, economic recovery has been
slow because, in addition to the effects of the Tohoku Pacific Coast Earthquake, an abrupt increase in the value of the yen has greatly
affected exports. In the electronics markets, besides severe economic conditions, large-scale floods in Thailand have considerably
impacted the global production of automobiles and electronics equipment, thus the forecast is that the market will reenter an
adjustment phase again after recovery from the earthquake, and, for the time being, extremely severe conditions will persist. The
ROHM Group’s Thailand operations have been impacted by the flooding, as production at two local factories remain suspended.
Although production is being alternated between factories within or outside of the ROHM Group, it will take considerable time and
money to recover production.
For the time being, the ROHM Group is working to minimize the effects of flooding in Thailand on various concerned fields, and has
made it a top priority to recover production systems at the earliest. At the same time, ROHM is making utmost efforts to improve
business performance by developing new products, strengthening customer support systems, and thoroughly streamlining and
decreasing costs. Furthermore, the group is further strengthening the partnership structure in the IC business with OKI
Semiconductor Co,. Ltd. (now Lapis Semiconductor Co., Ltd.) and is promoting the development of new products for which market
expansion in the mid- to long-term can be expected, such as an assortment of power devices including SiC devises, LED related
products and sensor devices, thus making solid efforts to increase corporate value.
In consideration of such circumstances, ROHM is revising its business results forecast for the year ending March 31, 2012 as
follows.
Business results forecast for the year ending March 31, 2012 (Consolidated)
Net sales
308,000 million yen (Decrease by 9.9 percent from the first six months of the previous fiscal year)
Operating loss
3,000 million yen
Ordinary loss
5,300 million yen
Net loss
18,000 million yen
The forecasts are based on an exchange rate of 78 yen to US$1.
2. Items regarding summary information (Others)
(1) Major changes in subsidiaries during the first six months of the year ending March 31, 2012
None
(2) Application of specific accounting procedure for compiling consolidated financial statement
None
(3) Change in accounting methods, changes in accounting estimates, and redisplay of revision
None
-5-
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
3. Consolidated quarterly financial statements
(1) Consolidated quarterly balance sheets
End of the accounting year
ended March 31, 2011
(March 31, 2011)
Assets
Current assets
Cash and time deposits
Notes and accounts receivable trade
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
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 intangible fixed assets
Investments and other assets
Investment securities
Deferred tax assets
Others
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets
-6-
(Unit: millions of yen)
First six months of the year
ending March 31, 2012
(September 30, 2011)
230,286
73,297
28,094
23,525
35,350
25,077
2,263
8,475
397
9,765
-286
436,247
205,442
76,925
21,464
18,672
35,137
27,463
2,258
6,764
2,428
13,619
-284
409,891
211,806
476,651
42,672
85,903
15,026
-579,844
252,216
209,453
465,027
41,639
85,088
15,748
-572,395
244,562
20,346
7,879
28,225
7,719
6,698
14,417
37,159
1,597
5,088
-545
43,299
323,741
759,988
37,164
1,083
4,277
-540
41,985
300,965
710,857
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
End of the accounting year
ended March 31, 2011
(March 31, 2011)
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
Common share
Capital surplus
Retained earnings
Treasury stock-at cost
Total shareholders' equity
Unrealized or translated gains/loss
Net unrealized gain on available-for-sale securities
Foreign currency translation adjustments
Total unrealized or translated gains/losses
Minority interests
Total net assets
Total of liabilities and net assets
-7-
(Unit: millions of yen)
First six months of the year
ending March 31, 2012
(September 30, 2011)
21,904
22,486
3,180
1,053
147
1,745
13,815
64,333
22,567
16,439
2,029
693
137
972
14,495
57,334
16,554
8,344
1,976
26,876
91,209
8,833
8,043
1,634
18,511
75,846
86,969
102,403
633,388
-67,120
755,641
86,969
102,403
607,182
-50,082
746,472
5,859
-94,669
-88,810
1,947
668,778
759,988
1,877
-115,270
-113,393
1,931
635,011
710,857
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
(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, 2012)
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Others
Total non-operating income
Non-operating expenses
Foreign currency exchange loss
Others
Total non-operating expenses
Ordinary income
Extraordinary gains
Gain on sales of fixed assets
Gain on insurance adjustments
Total extraordinary gains
Extraordinary losses
Loss on sales/disposal of fixed assets
Abandonment loss on fixed assets
Impairment loss
Loss on revaluation of investment securities
Loss on revaluation of affiliate companies’ stocks
Amount affected by application of Accounting Standard
on Asset Retirement Obligations
Total extraordinary losses
Income (-loss) before income taxes and minority interests
Income taxes-current
Income taxes-deferred
Total income taxes
Income (-loss) of minority shareholders before adjustment of
profits and losses
Income (-loss) of minority shareholders
Net income (-loss)
-8-
First six months of the year
ended March 31, 2011
(From April 1, 2010
To September 30, 2010)
181,355
113,942
67,412
44,046
23,366
(Unit: millions of yen)
First six months of the year
ending March 31, 2012
(From April 1, 2011
To September 30, 2011)
164,730
109,931
54,799
44,861
9,937
478
466
944
573
623
1,196
6,698
164
6,863
17,447
4,383
105
4,488
6,645
20
20
264
597
862
32
81
62
341
148
3
87
9,143
112
443
-
666
16,801
4,826
2,166
6,993
9,808
9,791
-2,283
3,011
-3,138
-126
-2,156
-54
9,862
2
-2,158
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
(Consolidated quarterly statement of comprehensive income)
(First six months of the year ending March 31, 2012)
Income (-loss) of minority shareholders before adjustment of
profits and losses
Other comprehensive income
Valuation difference of available-for-sale securities
Other valuation difference 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
ended March 31, 2011
(From April 1, 2010
To September 30, 2010)
9,808
First six months of the year
ending March 31, 2012
(From April 1, 2011
To September 30, 2011)
-2,156
-3,635
-22,315
-3,982
-20,639
-25,951
-16,143
-24,621
-26,778
-16,055
-26,741
-88
-36
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
(3)Consolidated quarterly statements of cash flows
First six months of the year
ended March 31, 2011
(From April 1, 2010
To September 30, 2010)
Operating Activities
Income (-loss) before income taxes and minority interests
Depreciation
Impairment loss
Amortization of goodwill
Increase (-decrease) in net liability for retirement benefits
Increase (-decrease) in prepaid pension cost
Increase (-decrease) in allowance for restructuring
expenses
Decrease (-increase) in allowance for casualty 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 payable -trade
Increase (-decrease) in other accounts payable
Others -net
Interest and dividends -received
Interest expenses
Income taxes -refunded (-paid)
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
Effect of Exchange Rate Changes on Cash and Cash
Equivalents
Net Increase(-Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of the Fiscal Year
Cash and Cash Equivalents at End of the First Six Months
-10-
(Unit: millions of yen)
First six months of the year
ending March 31, 2012
(From April 1, 2011
To September 30, 2011)
16,801
19,456
3,515
178
195
-233
-2,283
17,010
9,143
3,531
-215
5
-6
-665
3,864
403
-773
-800
3,746
556
-6,168
-7,032
612
4,499
-5,409
736
682
-8
-4,876
33,584
-1,535
3,342
-1,860
-1,741
799
-27
-5,560
16,296
-225
-6,210
5,615
-8,645
3,898
2,603
-21,213
25
-658
-24,384
-21,444
334
606
-20,928
-6
-7,121
-91
-7,219
-14,837
-1
-7,008
-128
-7,138
-11,380
-12,856
259,135
246,279
-23,150
230,721
207,570
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
(4) Note on going concern
No applicable items
(5) Segment information etc.
[Segment information]
First six months of the year ended March 31, 2011 (From April 1, 2010 to September 30, 2010)
Information on net sales, profits or losses by individual reportable segments
(Unit: millions of yen)
Reportable segments
ICs
Discrete
semiconductor Subtotal
devices
Others
(Note 1)
Total
Adjusted
amount
(Note 2)
Amount on
consolidated
income
statement
(Note 3)
Sales
Sales to
95,310
60,108 155,419
25,935
181,355
181,355
customers
Inter-segment
959
741
1,700
3
1,704
-1,704
sales or transfer
96,269
60,850 157,120
25,939
183,059
181,355
Total
-1,704
7,190
12,458
19,648
3,612
23,261
105
23,366
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, minus 105 million yen, mainly includes
general administrative expenses of minus 625 million yen that do not attribute to the segment,
and the settlement adjusted amount of minus 730 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.
First six months of the year ending 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
Adjusted
amount
(Note 2)
Amount on
consolidated
income
statement
(Note 3)
Sales
Sales to
80,952
56,132
137,084
27,646
164,730
164,730
customers
Inter-segment
1,053
518
1,572
0
1,573
-1,573
sales or transfer
Total
82,006
56,651
138,657
27,646
166,304
164,730
-1,573
8,062
7,894
715
8,610
1,327
9,937
Segment profit
-168
(-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, 1,327 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.
-11-
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
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 November 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, 2012 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, 2012, ROHM has implemented assets impairment
accounting procedures on “goodwill,” and such procedure was described in “Significant impairment loss in fixed assets.”
(6) Note in case of significant change in amount of shareholders’ equity
ROHM decided, in the board of directors meeting held on May 10, 2011, to retire a part of own shares according to provisions of
Article 178 of the Companies Act. Of the shares owned on May 31, 2011, the following shares were retired.
1. Category of shares to be retired:
2. Number of shares to be retired:
3. Total amount of retired shares:
Common shares
1,900,000 shares
17,039 million yen
-12-
ROHM CO., LTD. (6963) Financial Report for the First Six Months of the Year Ending March 31, 2012
4. Supplementary information
Production, orders and actual sales status
(1) Actual production
First six months of the year
ended March 31, 2011
Segment
From April 1, 2010
To September 30, 2010
ICs
From April 1, 2011
To September 30, 2011
94,356
59,442
153,798
25,965
179,764
Discrete semiconductor devices
Total of reportable segments
Others
Total
(Note)
(Unit: millions of yen)
First six months of the year
ending March 31, 2012
77,388
53,692
131,081
26,526
157,607
The above amounts are sales to external customers and do not contain consumption tax and the like.
(2) Orders
First six months of the year
ended March 31, 2011
From April 1, 2010
To September 30, 2010
Order received
Order backlog
Segment
ICs
Discrete semiconductor devices
Total of reportable segments
Others
Total
(Note)
91,827
59,475
151,303
26,515
177,819
26,168
15,445
41,614
9,205
50,820
(Unit: millions of yen)
First six months of the year
ending March 31, 2012
From April 1, 2011
To September 30, 2011
Order received
Order backlog
78,220
53,450
131,670
27,669
159,340
24,004
15,557
39,561
8,738
48,300
The above amounts are sales to external customers and do 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, 2012
(3) Actual sales
Actual sales by segment (domestic)
Segment
ICs
Discrete semiconductor devices
Total of reportable segments
Others
Total
First six months of the year
ended March 31, 2011
(Unit: millions of yen)
First six months of the year
ending March 31, 2012
From April 1, 2010
To September 30, 2010
Amount
Ratio
From April 1, 2011
To September 30, 2011
Amount
Ratio
37,470
18,855
56,325
5,973
62,299
39.3%
31.4
36.2
23.0
34.4
33,528
19,149
52,677
8,910
61,588
41.4%
34.1
38.4
32.2
37.4
Actual sales by segment (overseas)
First six months of the year
ended March 31, 2011
From April 1, 2010
To September 30, 2010
Segment
Amount
ICs
Discrete semiconductor devices
Total of reportable segments
Others
Total
From April 1, 2011
To September 30, 2011
Ratio
57,840
41,253
99,093
19,961
119,055
(Unit: millions of yen)
First six months of the year
ending March 31, 2012
60.7%
68.6
63.8
77.0
65.6
Amount
Ratio
47,423
36,983
84,407
18,735
103,142
58.6%
65.9
61.6
67.8
62.6
Actual sales by segment (total)
First six months of the year
ended March 31, 2011
From April 1, 2010
To September 30, 2010
Segment
Amount
ICs
Discrete semiconductor devices
Total of reportable segments
Others
Total
(Note)
From April 1, 2011
To September 30, 2011
Ratio
95,310
60,108
155,419
25,935
181,355
(Unit: millions of yen)
First six months of the year
ending March 31, 2012
52.6%
33.1
85.7
14.3
100.0
Amount
80,952
56,132
137,084
27,646
164,730
Ratio
49.1%
34.1
83.2
16.8
100.0
The above amounts are sales to external customers and do not contain consumption tax and the like.
-14-
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