Presentation of Operating Resultsin 3rd Quarter (Apr.-Dec.) of FY2011

January 30, 2012FUNAI ELECTRIC CO., LTD.
Security code 6839

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Ⅰ．Outline of Operating Results
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

Summary of 3rd Quarter (Oct.-Dec.)
Summary of 3rd Quarter (Apr.-Dec.)
Breakdown of Sales by Equipment
Sales of DVD related Equipment
Sales of Television related Equipment
Geographic Breakdown of Sales
Factor of Changes of Operating Income
Financial Conditions
Changes of Inventories
Capital Expenditures, Depreciation Expense and R&D Expenditures

1１．Summary of 3rd Quarter (Oct.-Dec.)（100 million yen）

FY 2010

FY 2011

Y/Y△132Net Sales760628

Operating Income△58(△0.7%)(1.3%)△78＋15(△0.9%)(1.4%)△13 (※2)△16△5＋11(△2.2%)(△1.0%)

82.2177.20(Margin)

Ordinary Income(Margin)

Net Income after tax(Margin)Average USD-JPY
Exchange Rate(△17.2%)＋13− (※1)（※1） interest received＋1、forex gain＋1、interest expense△1、other△1（※3） forex gain and loss＋3、other△1（※2） extraordinary loss△3、income taxes△10（※4） increase of extraordinary loss△6、decrease of income taxes＋2Month End
Exchange Rate

10/9

10/12

11/9

11/12（USD/JPY）

83.82

81.49

76.65

77.74＋2 (※3)△4 (※4)2

２．Summary of 3rd Quarter (Apr.-Dec.)（100 million yen）

FY 2010

FY 2011

Y/Y
△266

2,300

2,034

4029

△11(1.8%)(1.4%)△15 (※1)4014△26)(1.8%)(0.7%)△49 (※2)

Net Income after tax

21

△35

△56(1.0%)(△1.8%)

86.17

78.50

Net Sales
Operating Income(Margin)

Ordinary Income((MMaarrggiinn)

Average USD-JPY
Exchange Rate(△11.5%)（※1） interest received+2、interest expense△1、forex loss△16（※3） decrease of interest received△1、increase of forex loss△13、other△1（※2） extraordinary loss△4、income taxes△36、income taxes for prior period△9（※4） extraordinary loss and gain△6、increase of income taxes△15、increase of income taxes for prior period△9Month End
Exchange Rate
（USD/JPY）

10/3

10/12

11/3

11/12

04

49

15

77.74

93.

81.

83.

△15 (※3)△30 (※4)3

３．Breakdown of Sales by Equipment（100 million yen）

2,300
2,034
（100 million yen）

Y/YAVEquipment

1,512
DVD ： 482
T V ：1,030

AV Equipment

1,511
DVD ：521
T V ：990

InformationEquipment

485

Others303

272

Previous 3Q

Current 3Q(Apr.-Dec.)(Apr.-Dec.)

251：△1 （△ 0.1％）

DVD Equip. ： ＋ 39
T V Equip. ： △ 40（＋ 8.1％）（△ 3.9％）

Information Equipment ： △234 （△48.1％）
Others： △ 31 （△10.2％）

Total： △266 （△11.5％）

4４．Sales of DVD related Equipment（100 million yen）

521
48292
DVD Players

DVD Players

DVD Recorders・Both DVD player and recorder declined.
Blu-ray disc・BD recorder more gained than decline of BD player.

10893（100 million yen）

DVD Recorders

97

Y/Y

Blu-ray disc

Others

246

314

DVD Players： △ 16 （△14.8％）

DVD Recorders：△

Blu-ray disc31

22

Previous 3Q

Current 3Q(Apr.-Dec.)(Apr.-Dec.)

4 （△ 4.1％）： ＋ 68 （＋27.6％）

Others：△9 （△29.0％）

Total： ＋ 39 （＋ 8.1％）

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５．Sales of Television related Equipment（100 million yen）

1,030

990

LCD TV・In spite of the market ASP decline, single unit of LCDTV increased. DVD player combination, however,dragged the total sales.

1,030

990

（100 million yen）

Y/Y
LCD TV

Purevious 3Q

Current 3Q(Apr.-Dec.)(Apr.-Dec.)： △ 40 （△ 3.9%）

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６．Geographic Breakdown of Sales（100 million yen）

2,300
2,034

North America
・Although LCD TV increased, information
Equipment largely dropped and DVD related
equipment also declined.
JapanNorth America

・Although LCD TV declined, BD recorderincreased.

1,240(54%)

1,103（100 million yen）

(54%)

Y/YEurope

198 (8%)Asia & Others

179 (8%)108 (5%)138 (7%)

Japan683685(30%)(34%)

Previous 3Q

Current 3Q(Apr.-Dec.)(Apr.-Dec.)

North America： △137 （△11.0％）

Europe： △ 90 （△45.5％）

Asia & Others： △ 41 （△22.9％）

Japan：＋2 （＋ 0.4％）

Total： △266 （△11.5％）

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７．Factor of Changes of Operating Income《Comparison to 2010/12》＊ Add-value=Sales – (Cost of sales + selling expenses)（100 million yen）

Sales
decrease△22Decrease ofgeneral expenses
Increased
add-value*

40＋6＋5Operating
Income29Operating
IncomePrevious 3Q

Current 3Q(Apr.-Dec.)(Apr.-Dec.)
8８．Financial Conditions（100 million yen）

2,036

AssetsCash / Deposit

623

Accounts
Receivables

423

Inventories

Liabilities
AndNet Assets

549

1,939
700

Y/Y
1,820
765

363
373
438

303

Fixed Assets
and Others

441

438

379

Trade Payables

328

289

338

Accounts Payables
and Others

379

338

273

Net Assets

1,329

1,312

1,209

Assets△216

・Cash / Deposit＋142

・Accounts Receivables△ 50

・Inventories△246

・Fixed Assets and Others△ 62

Liabilities△ 96

・Trade Payables＋ 10・Accounts Payables
and Others△106

Net Assets△120（Shareholder’s Equity Ratio 65.8%）

2,036
2010/121,939
2011/3

1,820
2011/12
9９．Changes of Inventories（100 million yen）

549
438
350

Finished products

303

235

（100 million yen）

Y/Y
192
： △158Work in process： △ 88203

199

Work in process

Finished products

111

2010/122011/3

2011/122.2 months

2.0 months

1.5 months<Inventories Turnover>10

10．Capital Expenditures, Depreciation Expenseand R&D Expenditures
3Q

Full Year

CapitalExpenditures

Depreciation
Expense

R&D
Expenditures

△26＋1

△16

CapitalExpenditures

Depreciation
ExpenseR&DExpenditures（100 million yen）

（100 million yen）
140

140

120

120

100

10080806060

129
118

95
40794060

54202835203648

48

5300

2010/12 2011/12

2010/12 2011/12

2010/12 2011/12

2010/3 2011/3
2010/3 2011/3
2010/3 2011/3（Projection）（Projection）（Projection）
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Ⅱ． Supplemental Data ①
Summary of Operating Results (Oct.-Dec.）
1.
2.
3.

Sales by Equipment
Sales by AV Equipment
Geographic Sales

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１．Sales by Equipment（100 million yen）

760
628
（100 million yen）

AV
Equipment

Y/Y509
DVD：229
T V ：280

AV Equipment500
DVD：166
T V ：334

Information
Equipment

125

Others126

69

DVD Equip.
T V Equip.

： △ 9 （△ 1.8%）： △ 63： ＋ 54（△27.5%）（＋19.3%）

Information Equipment ： △ 56 （△44.8%）
Others： △ 67 （△53.2%）

Total： △132 （△17.2%）

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Previous 3Q

Current 3Q(Oct.-Dec.)(Oct.-Dec.)

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２．Sales by AV Equipment
DVD（100 million yen）

TV

（100 million yen）

334
229
DVD Players

37

DVD Recorders

34280

166
334

32
LCD TV

280

29
142

Blu-ray disc94

Others16

11Previous 3Q

Current 3Q

Previous 3Q

Current 3Q(Oct.-Dec.)(Oct.-Dec.)(Oct.-Dec.)(Oct.-Dec.)
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３．Geographic Sales（100 million yen）

760
628
North America

355（100 million yen）

(47%)

Y/Y
390

EuropeAsia & Others

52 (7%)
41 (5%)

North America： ＋ 35 （＋ 9.9%）

Europe： △ 13 （△25.0%）(62%)

Asia & OthersJapan

312(41%)39 (6%)
39 (6%)
160(26%)

Previous 3Q

Current 3Q(Oct.-Dec.)(Oct.-Dec.)：△2 （△ 4.9%）

Japan： △152 （△48.7%）

Total： △132 （△17.2%）

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Ⅲ．Supplemental Data ②

1. Quarterly Operating Summary of FY 2010 / 2011
2. Quarterly Changes of Sales Amount by Equipment

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１．Quarterly Operating Summary of FY 2010 / 2011（100 million yen）

FY 2010

FY 2011

1Q

2Q

3Q

4Q

1Q

2Q

3Q

S a l e s749

791760659656750628

Operating Income

2520△5△323178( M a r g i n )(3.4%)(2.6%)(△0.7%)(△5.0%)（0.5％）（2.4％）（1.3％）

Ordinary Income1234△7△27048( M a r g i n )(1.7%)(4.4%)(△0.9%)(△4.2%)（0.1％）（0.6％）（1.4％）Net Income after tax

434△16△33△23△6△5( M a r g i n )(0.6%)(4.4%)(△2.2%)(△5.1%)（△3.6％）（△0.9％）（△1.0％）

N e t

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２．Quarterly Changes of Sales Amount by Equipment
DVD Equipment

TV Equipment

Information Equipment

Others（100 million yen）

749

791

760
659

123
130

362

750
656
171

229
174

184

300

277

79

87

95

628
166

388
379

280

334

171

189

125

86

91

126

106

108

105

69
59

1Q

2Q

3Q

4Q

1Q

2Q

3Q

(10/6)(10/9)(10/12)(11/3)(11/6)(11/9)(11/12)18

Disclaimer

This document contains forward-looking statements and projections regarding
business performance which are not historical facts. Please note that these statements
are based on information relating to factors that may impact future businessperformance that was available for analysis at the time this document was printed.
These factors include industry trends relating to the business areas of Funai Electric Co.,
Ltd. or the Funai Group, such as audio-visual devices and information communicationequipment, the economic conditions of both domestic and international markets, andfluctuations in currency exchange rates. Actual performance may greatly differ fromprojections included in this document because of the impacts of uncertainty in suchareas as the competitive conditions of the electronics industry, market trends, currency
exchange rate, introduction and success of new products, and various other global
conditions that may affect the tax system and other systems.

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