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"
Copyright © 2024 THine Electronics, Inc. All Rights Reserved. | 2 |
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)
Copyright © 2024 THine Electronics, Inc. All Rights Reserved. 3
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
Copyright © 2024 THine Electronics, Inc. All Rights Reserved. | 4 |
THine value as
smart connectivity: LSI as smart interface × AIOT as smart IoT solution
Copyright © 2024 THine Electronics, Inc. All Rights Reserved. | 5 |
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
Copyright © 2024 THine Electronics, Inc. All Rights Reserved. | 6 |
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
0
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. |
0
FY2023-1QFY2024-1Q
Japan | Korea | Taiwan | China | US | ||||
AIOT Biz enters into profitable stage with operating income, |
completed its goodwill amortization. |
Copyright © 2024 THine Electronics, Inc. All Rights Reserved. | 8 |
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
0
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.