THine Electronics, Inc.

6769

JP3345600005

Semiconductors

Market Closed - Japan Exchange Other stock markets 11:30:00 28/05/2024 am IST			5-day change	1st Jan Change
926 ^JPY	-0.11%		-1.07%	+9.85%

01/04	Tranche Update on THine Electronics, Inc.'s Equity Buyback Plan announced on February 2, 2024.	CI
31/03	THine Electronics, Inc.'s Equity Buyback announced on February 2, 2024, has closed with 81,000 shares, representing 0.75% for ¥84.79 million.	CI

THine Electronics : FY2024Q1 Business and Financial Results

May 07, 2024 at 11:51 am IST

THine Electronics, Inc.

(TSE: 6769)

FY2024Q1 Business Results

and Opportunities

May 7, 2024

Mid-term Strategy from 2022 to 2024

TODAY'S AGENDA

Corporate outline

Business results in FY2024Q1

Future opportunities under mid-term strategy, "5G&Beyond-NE"

Corporate outline: Provider of unique value to the world, de facto standard technology of high-speed interface, etc.

Company Name

Founder & CEO President & COO

Capital

Founded

Incorporated

Business Area

Employees

THine Electronics, Inc.

(listed on Tokyo Stock Exchange, code: 6769）

Tetsuya Iizuka, Ph. D Yoichiro Minami 1,175 million Yen May, 1991

June, 1992	Tetsuya Iizuka	Yoichiro Minami

Planning, Designing and Sales of Mixed Signal LSI and

Providing AI & IoT devices and solutions

133 (consolidated basis as of March 31, 2024)

THine teams

Korea

THine Electronics Korea, Inc.

Seoul, Korea

Established in Mar. 2010

China

賽恩電子香港股份有限公司

THine Electronics Hong Kong, Co., Ltd.

Established in Nov.2012

前海赛恩电子(深圳)有限公司

THine Electronics Shenzhen, Co., Ltd.

Established in May 2013 上海分公司

Established in Oct.2013

Taiwan

哉英電子股份有限公司

THine Electronics Taiwan, Inc.

Taipei, Taiwan

Established in Sep. 2000

United States

THine Solutions, Inc.

Santa Clara, CA USA

Established in Feb. 2018

Tokyo - Headquarters -

Tokyo, Japan
Start-up in May 1991	Cathay Tri-Tech
LSI

AIOT Yokohama, Japan

Acquired in Dec., 2018

Server THine HyperData

Yokohama, Japan

Plan to establish in 2024

THine value as

smart connectivity: LSI as smart interface × AIOT as smart IoT solution

Business area

		Product and solution

		<> interface LSI>

		V-by-One® HS plus
		V-by-One® HS
LSI		LVDS
Biz.		Serial Transceiver IOHA:B

		Image Signal Processor
		Camera Development Kit
		<Wireless modules>

AI	5G/LTE/NB-IoT
＜AI&IoT devices and solution＞
&
	IoT Gateway / Router
IoT	Edge AI Processor / Module
		AI & IoT Solution

Biz.	＜Server＞

	AI Server / Data Server

Application market

Camera solution: automotive cameras, security cameras, AR/VR, recognition camera, medical cameras, etc.
Display solution: high-resolution displays such as 8K / 4K,

gaming monitors with high refresh rate

Drive recorders, automotive CID, exp. for EVs
Mobile, PC, and single board computers
OA (multi-function printers), amusement
Industrial equipment such as inspection equipment for semiconductors and LCD displays
Drive recorders with wireless modules
AED monitoring modules
IP transceivers
Remote monitoring module for vending machines and elevators
GPS tracker
AI thermography with facial recognition
IoT monitoring system

Financial performance in FY2024Q1

Consolidated financial results

（yen in million）

	FY2024Q1		FY2023Q1
		Portion%	YoY		Portion%

Revenues	917	100.0	65.8	1,394	100.0

Gross Profit	471	51.3	66.3	710	51.0

SG&A	562	61.3	93.2	603	43.3

(R&D expenses)	250	27.3	100.0	250	18.0

Operating Income	△91	△10.0	―	106	7.7

(EBITDA)	△69	△7.5	―	157	11.3

Ordinary Income	42	4.6	36.4	116	8.3

(Reference purpose only）	△84	△9.2	―	107	7.7
Ordinary Income without FX effects


Net Income Attributable	13			75
to Owners of the Parent	1.5	17.8	5.4	7

Financial performance in FY2024Q1 by region and segment

Revenues by region

					(unit: yen in million)
1,400		7%
1,200		9%
	2%	2%

1,000
		Decreased 6%

800			by 34％		18%

600				3%	6%

yen in

million		LSI Biz	AIOT Biz
1,000

	Decreased by		Revenues



800		41％		Gross profit


				Operating income


					EBITDA

600
Decreased by

	19％
400

200

400

200

80%67%

FY2023

FY2024

FY2023

FY2024

△ 200

 Consolidated revenues decreased by 34%. While China and

oversea markets show signs of recovery, some of Japanese

customers are still adjusting inventory level.

FY2023-1QFY2024-1Q

Japan	Korea	Taiwan	China	US

 AIOT Biz enters into profitable stage with operating income,

completed its goodwill amortization.

Financial performance of LSI business in FY2024Q1 by application markets

Revenues of LSI business by application

1,000			(unit: yen in million)
	5%

		18%	Decreased by
800		41％

600

	Analysis
Industrial:	Customers in OA and amusement markets were still
decreased by 45%	adjusting their inventory level, resulted in △53% decrease in
(72% of total)	OA, △55% in amusement, and △11% in other industrial.

Automotive:	Launched new products for EV markets. China and Taiwan
decreased by 47%	markets show the sign of recovery while Japan and US
(16% of total)	business decreased.

400

200

12%

16%

77%72%

Consumer:	Applying the new standard interface technology "V-by-One®
increased by 56%	HS plus" for high-resolution television and display markets
(12% of total)	shows healthy growth.

(unit: yen in million)

Quarterly-based sales in LSI business

2,000	FY2023
1,500
FY2024
1,000

FY2023 FY2024

Industrial Automotive Consumer

						* Figures after 2Q
500						is planned.

0
1Q	2Q	3Q	4Q

				Copyright © 2024 THine Electronics, Inc. All Rights Reserved.	9

Financial performance of AIOT business in FY2024Q1 by segment

Revenues of AIOT business segments

500	(unit: yen in million)	要因分析

	1%	Decreased by		IoT products:		Business in vending machines, elevator monitoring systems,
	19％
400	4%		decreased by 22%	AED, etc. made successful shipments while business for a

	3%		(92% of total)		few large-lot-customers delayed to the 2nd quarter.

300		5%		Solution:		Developing new solution such as OEM routers for surveillance
			increased by 43%	cameras made great success.


	95%	92%		AI and more:		Focusing on newly developing solutions and products. AI-
200		increased by 15%	based thermometer Biz almost over due to exit from COVID-19.



				(unit: yen in million)	Quarterly-based sales of AIOT business
100

				1,500
						FY2023
0				1,000		FY2024

FY2023-1Q	FY2024-1Q	500			* Figures after 2Q
						is planned.
IoTproducts	Solution	AI and more	0
1Q	2Q	3Q	4Q

						Copyright © 2024 THine Electronics, Inc. All Rights Reserved.	1 0

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Thine Electronics Inc. published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 06:20:07 UTC.

Latest news about THine Electronics, Inc.

Tranche Update on THine Electronics, Inc.'s Equity Buyback Plan announced on February 2, 2024.	01/04	CI
THine Electronics, Inc.'s Equity Buyback announced on February 2, 2024, has closed with 81,000 shares, representing 0.75% for ¥84.79 million.	31/03	CI
THine Electronics, Inc. announces an Equity Buyback for 150,000 shares, representing 1.4% for ¥180 million.	02/02	CI
THine Electronics, Inc. authorizes a Buyback Plan.	02/02	CI
Tranche Update on THine Electronics, Inc.'s Equity Buyback Plan announced on November 2, 2023.	08/12	CI
THine Electronics, Inc.'s Equity Buyback announced on November 2, 2023, has closed with 150,000 shares, representing 1.38% for ¥125.04 million.	07/12	CI
THine Electronics, Inc. announces an Equity Buyback for 150,000 shares, representing 1.38% for ¥150 million.	02/11	CI
THine Electronics, Inc. authorizes a Buyback Plan.	02/11	CI
THine Electronics, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023	08/23/08	CI
THine Electronics, Inc. Unveils Its Advanced Interface Technology V-By-One Hs Plus, Suitable for Achieving Energy Efficiency of Televisions	21/23/21	CI
Thine Electronics, Inc. High-Speed Data Transmission Product, Compatible with Multiple Cameras, Adopted in Drive Recorder Produced by Owltech	09/22/09	CI
THine Electronics, Inc. Announces an Extremely Small Redriver for USB4 Active Copper Cables	29/21/29	CI
THine Electronics, Inc. completed the acquisition of additional 31.5% stake in Cathay Tri-Tech.,inc.	10/19/10	CI
Thine Electronics Inc. and Keyssa Systems, Inc. Announces Launch of Detachable Hd Camera System solution	03/19/03	CI
THine Electronics, Inc. completed the acquisition of 52.39% stake in Cathay Tri-Tech., Inc. from Takashi Nakahara, Wenquan Xie and Hyakuen Nakahara.	06/18/06	CI
THine Electronics, Inc. agreed to acquire additional 31.5% stake in Cathay Tri-Tech.,inc.	06/18/06	CI
THine Electronics, Inc. signed a share transfer agreement to acquire 52.39% stake in Cathay Tri-Tech., Inc. from Takashi Nakahara, Wenquan Xie and Hyakuen Nakahara for approximately ¥180 million.	20/18/20	CI
THine Has Working Samples of V-by-One®US Chip Set Ready	21/18/21	CI
THine's Cumulative V-By-One Shipments over 100 Million Units	03/18/03	CI
THine Releases 4x10Gbps CML Redriver for 2x4K XR Active Cable	07/18/07	CI
THine Electronics, Inc Launches Paddle Card and Active Plug for USB3.1 Gen2 Active Cable	27/18/27	CI
THine Electronics, Inc. and California Eastern Laboratories, Inc. Introduce Camera Development Kit to Enable Fast and Easy Advanced Camera System Development	30/18/30	CI
THine Electronics, Inc. Produces Raspberry Pi Camera 15 M Long-Distance Transmission Module	24/18/24	CI
THine Electronics, Inc. Establishes Subsidiary in the US	05/18/05	CI
THine Electronics, Inc. Announces Establishment of Interface Technology for Image Sensor Cameras, VBOCTM	11/17/11	CI

Chart THine Electronics, Inc.

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Company Profile

THine Electronics, Inc. is a Japan-based company primarily engaged in the large scale integration (LSI) business and artificial intelligence and Internet of Things (AIOT) business. The Company has two business segments. The LSI segment is engaged in the development and sale of flat panels and other mixed signal LSI products for office equipment, amusements, security cameras, in-vehicle equipment, flat screen televisions, liquid crystal panels, personal computers and other fields, as well as the intellectual property (IP) licensing business through products development. The AIOT segment is engaged in the development, manufacture and sale of hardware and software for artificial intelligence (AI), Internet of Things (IoT) and machine-to-machine (M2M) devices, and mobile communication devices.

Sector

Semiconductors

Calendar

01/08/2024 - Q2 2024 Earnings Release (Projected)

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THine Electronics, Inc.

Equities

6769

JP3345600005

Semiconductors

THine Electronics : FY2024Q1 Business and Financial Results

Latest news about THine Electronics, Inc.

Chart THine Electronics, Inc.

Company Profile

Income Statement Evolution

Quarterly earnings - Rate of surprise

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