Presentation of Operating Results in 3rdQuarter (Apr.- Dec.) of FY 2009

February 4, 2010
FUNAI ELECTRIC.,LTD.
Security code ６８３９0of 3rd Quarter (Apr.-Dec.) of FY2009
Ⅰ Outline
Operating Results (Consolidated)
1. Summary of Operating Results
2. Breakdown of Sales by Equipment
3. Sales of Audio and Visual Equipment
4. Sales of DVD Equipment
5. Sales of Television Equipment
6. Sales of Information Equipment
7. Geographic Breakdown of Sales
8 Factor of Changes of Operating Income
9 Financial Conditions
10. Changes of Inventories
11. Capital Expenditures, Depreciation Expense and R&D Expenditures
Expenditures
12. Forecast of Operating Results of FY2009 Ending March 2010

1１．Summary of Operating Results(100 million yen)

Changes From
Previous FY2008

ＦＹ2008ＦＹ20092,4002,480(+3.3%)32115+83Margin(1.4%)(4.7%)

Ordinary Income

23

120+97Margin(1.0%)(4.9%)△29(※2)△16091(△6.7%)(3.7%)Net Sales
Operating Income

Net Income after tax
MarginAverage Exchange Rate
(USD/JPY)
Month End
Exchange Rate
(USD/JPY)

2008/3100.19102.48
2008/1291.03+80+5 (※1)

+14 (※3)＋154(※4)+25193.22
2009/3
98.23

2009/1292.10（※1）Interest receivables +6、Forex loss △1 （※3） Interest receivables △25、Forex gain +34、Interest expenses +2、Others +3（※2）Income taxes △29（※4） Extraordinary income △4、 Extraordinary loss +45、 Income taxes for prior periods ＋168、Income taxes △55
2

２．Breakdown of Sales by Equipment
AV Equipment
Information Equipment
Others(100 million yen)

2,400

2,480
Comparison to Previous 3Q

1,816

1,867

AV Equipment： ＋51 （＋ 2.8％）

Information Equipment： ＋40 （＋10.3％）

Others： △11 （△ 5.3％）

Total384424200189

Previous 3Q(Apr.-Dec.)

Current 3Q(Apr.-Dec.)： ＋80 （＋ 3.3％）

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３．Sales of Audio and Visual Equipment
DVD Equipment
Television Equipment(100 million yen)

1,816
689

1,127

Previous 3Q(Apr.-Dec.)

1,867
587

Comparison to Previous 3Q
DVD Equipment：△102 （△14.8％）

Television Equipment：＋153 （＋13.6％）

Total：＋ 51 （＋ 2.8％）

1,280

Current 3Q(Apr.-Dec.)

4

４．Sales of DVD Equipment
Video
DVD Player Equipment
DVD Recorder Equipment

Blu-ray disc
Digital STB(100 million yen)

689
16587

177

10DVD Player

DVD Recorder・In the midst of the market contraction, demand in U.S. for
DVD player was larger than expected and DVD recorder tracked
the market trend.
・Conditions for growth are still
Blu-ray discpre-matured.

Digital STB&Others ・Production and sales of Digital STB
completely terminated in June.

Comparison to Previous 3Q

205

108

126
135

221
111

Previous 3Q(Apr.-Dec.)：△Video167

Current 3Q(Apr.-Dec.)

6 （△37.5％）

DVD Player Equipment：＋ 28 （＋15.8％）

DVD Recorder Equipment：△ 41 （△24.6％）

Blu-ray disc：＋ 27 （＋25.0％）

Digital STB：△110 （△49.8％）

Total：△102 （△14.8％）

5

５．Sales of Television Equipment
CRT TVLCD TV
OthersCRT TV・Contraction was accelerated due to therapid growth of FPD TV in the market.

LCD TV・Philips brand in US started to1,280(100 million yen)

1,127

6

contribute for sales growth.

76

Comparison to Previous 3Q

1,246
1,029

CRT TＶ： △ 70 （△92.1％）

LCD TV： ＋217 （＋21.1％）

Others：＋Total

2228

Previous 3Q(Apr.-Dec.)

Current 3Q(Apr.-Dec.)

6 （＋27.3％）： ＋153 （＋13.6％）

66．Sales of Information Equipment(100million yen)

384

424

Information Equipment
・After having run the course of incoming orders, DSC’sproduction halted.

・Ink-jet printer’s incoming orders increased.

384

424

Comparison to Previous 3Q
Information Equipment ： ＋ 40 （＋10.3％）

Previous 3Q(Apr.-Dec.)

Current 3Q(Apr.-Dec.)
7

7．Geographic Breakdown of Sales
North America
EuropeAsia & Others
JapanNorth America
・CRT TV： Shrank in line with the market trend.

(100million yen)

2,480

2,400

・LCD TV： Big gained by adding Philips brand.
・D V D ： DVD player in addition to Blu-ray disc player increased,
but could not cover the decline of Digital STB.

Europe・Under on-going restructuring the organization both of DVD andLCD TV lost sales.

Comparison to Previous 3Q

1,802

1,711308
113
268239134
305

Previous 3Q(Apr.-Dec.)

Current 3Q(Apr.-Dec.)

North America：＋ 91 （＋ 5.3％）

Europe：△ 69 （△22.7％）

Asia & Others：＋ 21 （＋18.6％）

Japan：＋ 37 （＋13.8％）

Total：＋ 80 （＋ 3.3％）
88．Factor of Changes of Operating Income

Improved
add-value＊

Decreaseof general
expenses

967
Sales
increase

7115
OperatingIncome32
Operating
IncomePrevious 3Q(Apr.-Dec.)

Current 3Q(Apr.-Dec.)＊ Add-value=Sales - (Cost of sales + selling expenses)

99．Financial Conditions
Comparison to 2008/12（100 million yen）

2,107

AssetsLiabilities
andNet Assets

1,998

2,166
917

Cash / Deposit

840

Accounts
Receivables

433

Inventories

419

288
306

Fixed Assets
and Others

415

439

424

Trade Payables

371

411

Accounts Payables
and Others

432

281
362

Net Assets

1,304

965

1,355

341
484

357

1,398

Assets＋ 59

・Cash / Deposit＋ 77

・Accounts Receivables△ 92・Inventories＋ 65

・Fixed Assets and Others＋Liabilities△ 35・Trade Payables＋ 40・Accounts Payables
and Others△ 75

Net Assets
2,107
2008/12

1,998
2009/32,166

9（Shareholders’ Equity Ratio＋ 9464.2%)

2009/1210

10．Changes of Inventories
Finished products
Work in process

484(100 million yen)

419
306

Comparison to 2008/12326

331

Finished products△ 5Work in process

＋ 70

209
15888

97

2008/12

2009/3

2009/121.3months

1.5months

1.8months〈Inventories Turnover〉
11Capital Expenditures, Depreciation Expenseand R&D Expenditures

11.

3Q

Full Year

CapitalExpenditures

Depreciation
ExpenseR&DExpenditures＋3＋4△2（100 million yen）

CapitalExpenditures

Depreciation
Expense

R&D
Expenditures＋9＋8＋9（100 million yen）
160

160

140

140120120

10010080806060

984096130 1394059
2030332027 31

5036

44

00

2008/12 2009/12

2008/12 2009/12

2009/3 2010/3

2008/12 2009/12

2009/3 2010/3(Projection）（Projection）

2009/3 2010/3（Projection）

12of Operating Results of FY2009
12. Forecast
Ending March 2010(100 million yen)Previous
Forecast

Revision ofForecast（Released in May 13)（Released in Oct 29)

3,027

3,400

3,300

1460

120

Margin(0.5%)(1.8%)(3.6%)

Ordinary Income

1253114

Margin(0.4%)(1.6%)(3.5%)△173

3987(△5.7%)(1.1%)(2.6%)

FY2008Results

Net Sales
Operating Income

Net Income after tax
MarginAverage Exchange Rate
(USD/JPY)

100.66

95.00

Changes
FromPrevious
FY2008＋273

Changes
FromPrevious
Forecast△100(＋9.0%)（△2.9％）＋106＋60＋102＋61＋260

＋48

90.00
13Supplemental Data ①Ⅱ

Summary of Operating Results (Oct.(Oct.-Dec.)

1.
2.
3.
4.
5.
6.
7.

Summary of Operating Results
Breakdown of Sales by Equipment
Sales of Audio and Visual Equipment
Sales of DVD Equipment
Sales of Television Equipment
Sales of Information Equipment
Geographic Breakdown of Sales

14１．Summary of Operating Results(100 million yen)

Changes fromPrevious 3Q

FY 2008 3Q

FY 2009 3Q

Net Sales

954810(△15.2%)

Operating Income△1014+24Margin(△1.1%)(1.8%)＋10 (※1)

Ordinary Income△3524+59Margin(△3.8%)(3.0%)△3918(△4.1%)(2.3%)Net Income after tax
MarginAverage Exchange Rate (USD- JPY)（※1）Interest receivables +1
Forex gain +8、Others +1（※2）Income taxes△694.99△144△6(※2)+35 (※3)△2(※4)+5790.11（※3） Interest receivables △12、 Forex gain +45、 Interest expenses +1、 Others +1（※4） Extraordinary loss +26、 Income taxes △28
15

２．Breakdown of Sales by Equipment
AV Equipment
Information Equipment
Others(100 million yen)

954
810

779

585

Comparison to Previous 3Q
AV Equipment： △194 （△24.9％）

Information Equipment： ＋ 52 （＋48.6％）

OthersTotal107
68

15966

Previous 3Q(Oct.-Dec.)

Current 3Q(Oct.-Dec.)：△2 （△ 2.9％）： △144 （△15.2％）

16

３．Sales of Audio and Visual Equipment
DVD Equipment
Television Equipment(100million yen)

779
221

585125558
460

Previous 3Q(Oct.-Dec.)

Current 3Q(Oct.-Dec.)

Comparison to Previous 3Q
DVD Equipment： △ 96 （△43.4％）

Television Equipment：△ 98 （△17.6％）

Total：△194 （△24.9％）

17

４．Sales of DVD Equipment
Blu-ray disc
Digital STB

Video
DVD Player Equipment
DVD Recorder Equipment

DVD Player

DVD Recorder・In line with the contraction of market, both of player and recordershrank.

(100 million yen)

221・Larger sales price decline than
expected in the pre-matured stage.

Blu-ray disc5

Digital STB&Others ・Production and sales of Digital STB

53

completely terminated in June.

1255232

Comparison to Previous 3Q

2Video： △ 3 （△60.0％ ）48

DVD Player Equipment： △ 5 （△ 9.4％）

DVD Recorder Equipment： △ 7 （△13.5％）

Blu-ray disc： △ 6 （△18.8％）

Digital STB： △75 （△94.9％）

45

79

264

Current 3Q(Oct.-Dec.)

Previous 3Q(Oct.-Dec.)

Total： △96 （△43.4％）
18５．Sales of Television Equipment
CRT TVLCD TV
Others(100million yen)

LCD TV558
19・Volume increased ,but revenue declined due to sales
price decline in the market.

4601531455

Comparison to Previous 3Q
CRT TV： △18 （△94.7％）

LCD TV： △76 （△14.3％）

Others

： △ 4 （△50.0％）

Total

84

Previous 3Q(Oct.-Dec.)

Current 3Q(Oct.-Dec.)： △98（△17.6％）

19

6．Sales of Information Equipment

159(100million yen)

Information Equipment
・Increase of ink-jet printer’s incoming orders contributed to107

revenue increase.

159

Information Equipment

107

Previous 3Q(Oct.-Dec.)

Comparison to Previous 3Q： ＋ 52 （＋48.6％）

Current 3Q(Oct.-Dec.)
20

7．Geographic Breakdown of Sales
North America
EuropeAsia & Others
JapanNorth America(100million yen)954

・Ｉn addition to the termination of Digital STB, sales decline ofLCD TV adversely affected the revenue.

810
Comparison to Previous 3Q
711
553

113
41898954114

Previous 3Q(Oct.-Dec.)

Current 3Q(Oct.-Dec.)

North America：△158 （△22.2％）

Europe：△ 24 （△21.2％）

Asia & Others：＋ 13 （＋31.7％）

Japan：＋ 25 （＋28.1％）

Total ：△144 （△15.2％）

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Ⅲ Supplemental Data ②
Quarterly Comparison of FY 2008 and FY 2009
1. Operating Summary
2. Sales Amount by Equipment

22

１．Quarterly Operating Summary of FY 2008, 2009（100 million yen）

FY 2008

Net SalesOperating Income
MarginOrdinary Income
MarginNet Income After Tax
MarginFY 2009

1Q

2Q

3Q

4Q

1Q

2Q

3Q

594852954627776894810

33 △ 10△183763

14(3.9%) (△1.1%) (△3.0%)(4.8%)(7.1%)(1.8%)△114055

24(1.8%) (△3.8%) (△1.9%)(5.3%)(6.2%)(3.0%)△133141

18(2.0%) (△4.1%) (△2.1%)(4.1%)(4.6%)(2.3%)

9(1.7%)

44(7.5%)△137(△23.2)

15 △ 35
16 △ 3923

２．Quarterly Changes of Sales Amount by Equipment
DVD Equipment

Television Equipment

Information Equipment

Others（100 million yen）

954

1,000

894

852

776

221

800

594

280

627

213

810
125

249

600

161

188
558

463

460

340

400

329

229

357

200

0

107

170

70

62

1Q(08/6)

2Q(08/9)

109

156

159

68

66
71

61

62

66

3Q
(08/12)

4Q(09/3)

1Q(09/6)

2Q(09/9)

3Q(09/12)107

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Disclaimer•

This document contains forward-looking statements and projections regarding
business performance which are not historical facts. Please note that thesestatements are based on information relating to factors that may impact futurebusiness performance that was available for analysis at the time this document
was printed. These factors include industry trends relating to the businessareas of Funai Electric Co., Ltd. or the Funai Group, such as audio-visualdevices and information communication equipment, the economic conditions ofboth domestic and international markets, and fluctuations in currency exchange
rates. Actual performance may greatly differ from projections included in thisdocument because of the impacts of uncertainty in such areas as thecompetitive conditions of the electronics industry, market trends, currency
exchange rate, introduction and success of new products, and various otherglobal conditions that may affect the tax system and other systems.

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