FY2023

Consolidated Business Results

May 9, 2024

Table of Contents

*FY (fiscal year): April-March

  1. Summary of Consolidated Financial Results for the Year Ended March 31, 2024
  2. Consolidated Financial Forecast for the Year Ending March 31, 2025
  3. Progress of the Mid-Term Management Plan

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FY2023 Results (1)

Summary of Financial Results

  • Full-yearresults
  • Operating income and ordinary income reached record highs for the second straight year.
  • Sales and income both increased year on year.
    Net sales 67.6 billion yen (up 11%), Operating income 11.69 billion yen (up 7%)
  • Orders received decreased by 20% year on year, to 61.8 billion yen
    For back-end process equipment for semiconductors, orders remained steady for advanced packages. For front-end process equipment, however, orders received were downward, mainly for wafers, as some customers revised their capital investment plans. The status of orders received in FY2024 is on a recovery track.
  • A year-end dividend of 200 yen is planned, a 30 yen increase from the dividend forecast made in February.

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FY2023 Results (2)

Financial Results (YoY)

Unit: 100 million yen

FY2022

FY23/H1

FY23/H2

FY2023

YoY rate

of change

Net sales

610

305

371

676

+11%

Operating

109.1

50.2

66.7

116.9

+7%

income

ROS

17.9%

16.4%

18.0%

17.3%

-0.6pt

Ordinary

105.1

50.3

65.8

116.1

+10%

income

Net

92.0

38.7

49.2

87.9

-4%

income

ROE

31.9%

-

-

24.5%

-7.4pt

Orders

768

333

285

618

-20％

received

FCF

32.0

46.3

-9.7

36.6

+4.6

4

  • H1 (first half): April-September, H2(second half):October-March
    SPE: Front and back-end process equipment for semiconductors
    FPD: Front- and back-end process equipment for FPDs
  • Net sales

Increased 11% YoY (61.0 ⇒ 67.6 billion yen)

    • Net sales increased in the SPE field but decreased in the FPD field. Overall net sales increased.
  • Operating income

Increased 7% YoY (10.91 ⇒ 11.69 billion yen)

    • Income increased in the SPE field but decreased in the FPD field. Overall Income increased.
  • Net income

Decreased 4% YoY (9.20 ⇒ 8.79 billion yen)

    • Income decreased due to additional recognition of deferred tax assets (0.92 billion yen) in the previous year.
  • Orders received

Decreased 20% YoY（76.8 ⇒ 61.8billion yen）

  • Decrease mainly in front-end process equipment for semiconductors.

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FY2023 Results (3)

Financial Results by Segment (YoY) (i)

  • Fine mechatronics
  • Net sales Increased by 17% YoY (42.6 50.1 billion yen)
  • Fine mechatronics: Front-end process equipment for semiconductors and FPDs

For front-end process equipment for semiconductors, there was a steady increase for logic/foundry and wafers.

In front-end process equipment for FPDs, net sales declined due to sluggish performance.

  • Ordinary income Increased by 10% YoY (9.63 10.60 billion yen)

Income increased due to a rise in sales of front-end process equipment for semiconductors.

  • Orders received Decreased by 38% YoY (60.3 37.2 billion yen)

For front-end process equipment for semiconductors, although orders remained firm mainly for logic/foundry and photomasks, they decreased primarily for wafers due in part to some customers revising their capital investment plans.

Orders for front-end process equipment for FPDs remained sluggish because of market conditions.

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FY2023 Results (4)

Financial Results by Segment (YoY) (ii)

  • Mechatronics systems
  • Mechatronics systems: Back-end process equipment for semiconductors and FPDs, vacuum equipment
  • Net sales Decreased by 12% YoY (14.1 12.4 billion yen)

Sales of back-end process equipment for semiconductors were firm for advanced packages and increased.

Sales of back-end process equipment for FPDs declined due to sluggish orders in the previous fiscal year.

Sales in the vacuum sector increased due to firm sales for semiconductors.

  • Segment income Decreased by 14% YoY (1.69 1.45 billion yen)

Sales of back-end process equipment for semiconductors increased, but segment income decreased due to a decline in sales of back-end process equipment for FPDs.

  • Orders received Increased by 44% YoY (12.2 17.6 billion yen)

Orders for back-end process equipment for semiconductors increased significantly due to growth in demand for advanced package bonders.

Orders for back-end process equipment for FPDs decreased due to the impact of market conditions. In the vacuum sector, orders were steady, mainly for semiconductors.

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FY2023 Results (5)

Financial Results (vs.Previous Forecast)

*1: Published in February 2024

Unit: 100 million yen

FY2023

Previous

Rate of change

Results

from the

forecast*1

previous

forecast

Net sales

660

676

+2%

Operating income

105.0

116.9

+11%

ROS

15.9%

17.3%

+1.4pt

Ordinary income

100.0

116.1

+16%

Net income

74.5

87.9

+18%

ROE

21.0%

24.5%

+3.5pt

Orders received

-

618

-

7

  • Net sales

Increased 2% from the previous forecast (66.0 ⇒ 67.6 billion yen)

    • SPE field remained steady
  • Operating income

Increased 11% from the previous forecast (10.5 ⇒ 11.69 billion yen)

    • Income increased due to an increase in sales and a decrease in expenses
  • Net income

Increased 18% from the previous forecast (7.45 ⇒ 8.79 billion yen)

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FY2023 Results (6)

Dividend

The Company targets the consolidated dividend payout ratio to be approximately 30%.

Because net income exceeded the previous forecast, the year-end dividend per share is planned to be increased by 30 yen from the previous forecast to 200 yen.

Dividend at the

Year-end

Annual dividend

end of Q2

dividend

Year ended March 31, 2024

0 yen

※ 200 yen

※ 200 yen

Year ended March 31, 2024

0 yen

170 yen

170 yen

(previous forecast)

Year ended March 31, 2023

0 yen

560 yen

560 yen

Year ended March 31, 2022

0 yen

230 yen

230 yen

※Figures after 3-for-1 stock split effective October 1, 2023. Equivalent to 600 yen dividend before stock split.

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FY2023 Results (7)

Sales, Profit and ROS

ROS17.3%

Unit: 100 million yen

676

610

600

531

116.9

Net sales

493

493

109.1

471

448

Operating

income

400

ROS

50.5

17.9%

17.3%

40.0

200

31.2

29.6

25.0

10.3%

7.5%

5.1%

6.6%

6.6%

0

2017

2018

2019

2020

2021

2022

2023

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FY2023 Results (8)

Sales by Segment

*Fine mechatronics: Front-end process equipment for semiconductors and FPDs

Mechatronics systems: Back-end process equipment for semiconductors and FPDs, vacuum equipment

Unit: 100 million yen

Fine mechatronics accounts for 74% Mechatronics systems accounts for 18%

610

676

(8％)

51

600

400

200

0

493

(8％)

40

182

(37％)

270

(55％)

531

(8％)

41

207

(39％)

283

(53％)

471

448

493

(8％)

(9％)

42

(9％)

41

39

138

152

113

(28％)

(32％)

(25％)

278

296

314

(64％)

(59％)

(66％)

(7％)

42

141

(23％)

426

(70％)

124

(18％)

501

(74％)

Others

Mechatronics systems

Fine mechatronics

2017

2018

2019

2020

2021

2022

2023

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Shibaura Mechatronics Corporation published this content on 09 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2024 11:04:06 UTC.