FY2023

Fourth Quarter Financial Results

April. 25, 2024

DISCLAIMER

Statements in this PowerPoint with respect to DISCO's current strategies, plans, estimates, and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of DISCO. These statements are based on management's assumptions and beliefs in light of the information currently available to it and therefore you should not place undue reliance on them. DISCO cautions you that a number of important factors could cause actual results to differ materially from those discussed in the forward-looking statements, and you should not make decision on your investment thoroughly based on these statements. Such factors include, but not limited to, (i) general economic conditions and levels of demand in DISCO's markets; (ii) developments in technology and resulting changes in semiconductor and/or electronic component manufacturing process; (iii) levels of capital investment for manufacturing semiconductors and/or electronic components; (iv) expansions of the area for products and technologies using semiconductors and/or electronic components and its expanding speed; (v) DISCO's ability to continue to offer products and services corresponding to developments of new semiconductors and/or electronic components and new technologies for manufacturing them; (vi) exchange rates, particularly between the yen, the U.S. dollar, and the euro, and other currencies.

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FY2023 Highlights

Net sales

307.5 B yen

Previous year : 284.1 B yen

New record

GP margin

67.8 %

Previous year : 64.9%

New record

Operating income

121.4 B yen

Previous year : 110.4 B yen

New record

Operating income

margin

39.5 %

Previous year : 38.9%

New record

CAPEXR&DTotal assets

16.5 B yen

27.3 B yen

556.0 B yen

Previous year : 14.9 B yen

Previous year : 22.4 B yen

Previous year : 468.7 B yen

FCF

ROE

EPS

81.1 B yen

22.4 %

777.29 yen

Previous year : 68.7 B yen

Previous year : 25.9%

Previous year : 765.47 yen

Ordinary income margin averaged over a four-year period

37.0 %

Previous year : 34.4%

Annual dividend

307 yen

Per share

Previous year : 916 yen

Record high *

*The Company implemented a stock split in the proportion of 1 share into 3 shares effective as of April 1, 2023. Under the assumption that the stock split was implemented at the beginning of the previous fiscal year, the results of the previous year will be 305 yen.

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FY2023 4Q Earnings Results

Billions of Yen

Net Sales

Gross Profit

Gross Profit Margin

SG&A

Operating Income

Ordinary Income

Ordinary Income Margin

Income before income taxes and minority interests

Net Income

FY2023 4Q 104.3 71.3 68.4% 25.2 46.1 46.7 44.7% 46.5 35.4

FY2023

QoQ

3Q

Amount

(%)

77.0

27.3

35.5%

52.7

18.7

35.5%

68.4%

0.0p

-

22.3

2.9

13.0%

30.4

15.8

52.0%

29.4

17.2

58.5%

38.2%

6.5p

-

21.9

24.6

112.3%

16.1

19.4

120.4%

FY2022

YoY

4Q

Amount

(%)

79.0

25.3

32.0%

51.2

20.1

39.2%

64.8%

3.6p

-

19.9

5.3

26.4%

31.3

14.8

47.4%

32.2

14.5

45.2%

40.7%

4.0p

-

32.7

13.7

41.9%

25.7

9.8

38.0%

Sales: Both YoY and QoQ increased due to progress in equipment inspection/acceptance.

GP margin: YoY increased due to high-added value cases, improvement activities, exchange rate, etc.

SG&A: YoY increased mainly due to personnel and R&D expenses.

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FY2023 Earnings Results

Billions of Yen

Net Sales

Gross Profit

Gross Profit Margin

SG&A

Operating Income

Ordinary Income

Ordinary Income Margin

Income before income taxes and minority interests

Net Income

FY2023 Full Year 307.6 208.6 67.8% 87.2 121.5 122.4 39.8% 114.6 84.2

FY2022 Full Year 284.1 184.5 64.9% 74.1 110.4 112.3 39.5% 112.8 82.9

YoY

Amount

(%)

23.4 8.2%

24.1 13.1%

2.9p -

13.1 17.6%

11.1 10.0%

  1. 9.0%
    0.3p -
  1. 1.6%

1.3 1.6%

Sales: Inspection/acceptance sales increased supported by a high level of product shipments (record high).

GP margin: Increased mainly due to the effect of the exchange rate.

SG&A: Increased mainly due to personnel and R&D expenses.

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Quarterly Financial Results

Billions of Yen

Due to the change in accounting policy, the timing of revenue

110.0

recognition has been changed to Inspection/Acceptance Basis.

50%

100.0

90.0

40%

80.0

70.0

30%

60.0

50.0

40.0

20%

30.0

20.0

10%

10.0

0.0

2Q

1Q

4Q

3Q

2Q

1Q

4Q

3Q

2Q

1Q

4Q

3Q

2Q

0%

1Q

3Q

4Q

2Q

3Q

1Q

2Q

4Q

1Q

3Q

4Q

2Q

3Q

1Q

2Q

4Q

1Q

3Q

4Q

2Q

3Q

1Q

2Q

4Q

1Q

3Q

4Q

FY14

FY15

FY16

FY17

FY18

FY19

FY20

FY21

FY22

FY23

Net Sales

Operating Income

Ordinary Income Margin

Sales exceeded 100 billion yen for the first time on a quarterly basis

(FY23_4Q Operating income margin 44.2％, Ordinary income margin 44.7%, Net income margin 34.0%)

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Quarterly Sales Breakdown by Product

110.0

Billions of Yen

100.0

90.0

80.0

70.0

60.0

50.0

40.0

30.0

20.0

10.0

2Q

3Q

4Q

2Q

3Q

4Q

2Q

3Q

4Q

2Q

3Q

4Q

2Q

3Q

4Q

FY19_1Q

FY20_1Q

FY21_1Q

FY22_1Q

FY23_1Q

Other

Maintenance Parts

Precision Processing Tools (Consumables)

Precision Processing Equipment

Note: Composition percentages are listed as additional information on the DISCO website.

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Quarterly Sales Breakdown by Region

110.0

100.0

90.0

80.0

70.0

60.0

50.0

40.0

30.0

20.0

10.0

Billions of Yen

FY19 1Q

2Q

3Q

4Q

FY20 1Q

2Q

3Q

4Q

FY21 1Q

2Q

3Q

4Q

FY22 1Q

2Q

3Q

4Q

FY23 1Q

2Q

3Q

4Q

Asia

Japan

Europe

North America

FY23_4Q Overseas sales ratio: 87.9%

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Quarterly Shipments

100.0

90.0

80.0

70.0

60.0

50.0

40.0

30.0

20.0

10.0

0.0

95.0

Billions of Yen

FY14 1Q

2Q

3Q

4Q

FY15 1Q

2Q

3Q

4Q

FY16 1Q

2Q

3Q

4Q

FY17 1Q

2Q

3Q

4Q

FY18 1Q

2Q

3Q

4Q

FY19 1Q

2Q

3Q

4Q

FY20 1Q

2Q

3Q

4Q

FY21 1Q

2Q

3Q

4Q

FY22 1Q

2Q

3Q

4Q

FY23 1Q

2Q

3Q

4Q

FY23_4Q Shipment volume: approx. 95.0 billion yen

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Precision Processing Equipment: Sales by Application

Shipment Basis

Precision Processing Equipment

FY19 1Q

2Q

3Q

4Q

FY20 1Q

2Q

3Q

4Q

FY21 1Q

2Q

3Q

4Q

FY22 1Q

2Q

3Q

4Q

FY23 1Q

2Q

3Q

4Q

Non-semiconductors

Wafer manufacturing

Other semiconductors

Optical semiconductors

Package singulation

IC

QoQ: An increase in sales for IC (for generative AI) and power semiconductors (under "Other semiconductors") boosted the whole.

YoY: Increased significantly for IC due to increased demand for generative AI.

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Dicer: Sales by Application

Shipment Basis

Dicer

Non-semiconductors

Other semiconductors

Optical semiconductors

Package singulation

IC

FY19 1Q

2Q

3Q

4Q

FY20 1Q

2Q

3Q

4Q

FY21 1Q

2Q

3Q

4Q

FY22 1Q

2Q

3Q

4Q

FY23 1Q

2Q

3Q

4Q

QoQ: An increase in sales for IC (for generative AI) and power semiconductors (under "Other semiconductors") boosted the whole.

YoY: Increased significantly for IC due to increased demand for generative AI.

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Disco Corporation published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 07:14:14 UTC.