Maruwa : FY2023 Second Quarter Financial Results

FY2023 Second Quarter Financial Results

October 30, 2023 MARUWA CO., LTD. (5344)

Disclaimer

This material is not aimed at recommending any investment.

There are forward-looking statements based on current assumptions. Actual results may differ by changes of the environment.

１．Overview

				（Unit：Millions of YEN）
	FY2023 First half（Apr. ~ Sep.）	Earnings forecast	FY2022 First half
		Increase/Decrease	（announced in April）	（Apr. to Sep.）
		from forecast
Net sales	28,063	＋3.6%	27,100	29,668
Operating profit	8,649	△5.0%	9,100	10,616
Ordinary profit	9,616	ー	ー	12,219
Net profit	6,777	ー	ー	8,604

2023 MARUWA CO., LTD.

２．Quarterly Consolidated Operating Results

		FY2021				FY2022			FY2023
16,000											40.0%
14,000
12,000											30.0%
10,000
8,000											20.0%
6,000
4,000											10.0%
2,000
0	FY2021				FY2022				FY2023		0.0%
	2Q	3Q	4Q	2Q	3Q	4Q	2Q
	1Q	1Q	1Q
Net sales
11,112	13,610	15,347	14,273	13,954	15,714	14,908	14,227	12,722	15,341
Operating profit	3,182	4,744	5,434	4,854	4,749	5,866	5,423	4,102	3,530	5,118
Operating profit %	28.6%	34.9%	35.4%	34.0%	34.0%	37.3%	36.4%	28.8%	27.7%	33.4%	（Unit：Millions of YEN）

2023 MARUWA CO., LTD.

３．Sales Breakdown by Market

■Sales amount by market

		（Unit：Millions of YEN）
FY2023 First half	FY2022	Quarter to
Increase/Decrease	quarter ratio
First half
from last year	2Q/1Q

Telecommunication	88.8	△22.5%	114.6	＋61.6%
Automobile	65.1	+17.5%	55.4	△4.8%
Semiconductor	50.8	+8.8%	46.7	＋4.5%
Industrial	40.0	△4.5%	41.8	＋5.9%
equipment
Lighting	35.7	△5.7%	37.8	＋29.6%

■ Composition ratio

12.8%

FY2022 14.1% 38.7% First half

15.7%18.7%

FY2023	12.7%
First half	31.7%
Telecomunication	14.3%
18.1% 23.2%
Semiconductor
Automobile

Industrial equipment

Lighting

2023 MARUWA CO., LTD.

４．Inventory Value

【Inventory value】

12,000

（Unit：Millions of YEN）

10,000

8,000	2,267	2,452	2,503
6,000	2,905	3,014	3,084
4,000
2,000	3,767	4,259	4,450
0
As of March 31, 2023	As of June 30, 2023	As of Sep. 30, 2023

Merchandise and finished products

Work in process

Raw materials and supplies

Continuing to secure raw materials strategically which are mainly for automobile and semiconductor-related businesses

Merchandise and finished products slightly increased due to the recovery of orders, especially in telecommunication business

2023 MARUWA CO., LTD.

５．Outlook for the Second Half (Market Trends and Company Trends)

Market	Environment
	・Although there seems to be a delay in the recovery of telecommunication
Telecommunication	market in China, orders obtained in our existing market are recovering
	moderately.
Automobile	・Orders for EVs remained at a high level globally
	・The new facility for EVs is in progress to contribute to 3Q Sales.
Semiconductor	・Although there is a delay in the full-scale recovery of the market, we
expect to maintain stable earnings due to an abundant order backlog and a
	certain level of order reception.
New	・In the second half of the year, demand is expected to grow in new markets.

2023 MARUWA CO., LTD.

６．FY2023 year-end forecast

			（Unit：Millions of YEN）
	FY2023 year-end forecast	FY2022 year-end
		Increase/Decrease	result
		from last FY
Net sales	61,500	＋4.6%	58,804
Operating	21,000	＋4.3%	20,142
profit

※Regarding "Ordinary income" and "Profit attributable to owners of parent", they are expected to fluctuate mainly due to foreign exchange factors. Therefore, we have omitted to describe forecasts due to the uncertainty of exchange rate trends at this time.

2023 MARUWA CO., LTD.

７．Progress of new plant and new buildings (1)

Plant	Market	Schedule
		Start of operation
Seto	New	in 3Q
plant	Mass production to
		begin sequentially

※As of May 1st in 2023, New Seto plant(Hatanaka-town,Seto-city)

is existed as "Seto plant" and old Seto plant name has been changed to Yamanota plant.

©FUMITO SUZUKI

2023 MARUWA CO., LTD.

７．Progress of new plant and new buildings (2)

Plant Market Schedule

Toki plant	EV	Mass production
New building ①	starting from３Q

※The building on the right in the foreground of the photo is the new building ①.

2023 MARUWA CO., LTD.

７．Progress of new plant and new buildings (3)

Plant	Market	Schedule
Miharu plant	SPE	FY2025 scheduled
new building	to be in operation
Toki plant	EV	FY2025 scheduled
New building ②		to be in operation

Miharu plant new building

※The above illustrations are just image for reference.

2023 MARUWA CO., LTD.