Presentation of Operating Results forthe 1st Quarter (Apr.‐Jun.) of FY2015
August 3, 2015

FUNAI ELECTRIC CO., LTD.
TSE 6839

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

Summary of 1st Quarter (Apr.‐Jun.)
Summary of 1st Quarter (Apr.‐Jun.) (Ordinary Income, Net Income)Breakdown of Sales by Equipment
Sales of DVD related Equipment
Sales of LCD Television
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 1st Quarter (Apr.‐Jun.)（100 million yen）

FY20141Q

N e t

FY2015
1Q

Y/Y(Changes)-53

S a l e s

430

377

Operating Income-21-43-22)(-4.9%)(-11.4%)(－)

Ordinary Income-24-37-13)(-5.7%)(-9.9%)(－)

Net Income Attributableto owners of parent-23-40-17(-5.4%)(-10.7%)(－)(((MMMaaarrrgggiiinnn)

Average USD‐JPY
Exchange Rate

101.87(-12.4%)121.72Month End Exchange Rate

14/3

14/6

15/3

15/6

（USD/JPY）

102.92101.36120.17122.45
22．Summary of 1st Quarter (Apr.‐Jun.)(Ordinary Income, Net Income)（100 million yen）

FY2014
1Q
Non‐operating income
Non‐operating expenses(note:1)

Ordinary Income
Extraordinary income
Extraordinary losses(note:2)

Income before Income Taxes
Income taxes

Net Income Attributableto owners of parent(note:1 Non-operating income and expenses)
Interest
income01Dividends
income1Foreign exchange
gain and loss

0‐4‐160

3‐6‐24‐37‐132005‐25‐22‐42‐20

1‐2‐3‐23‐40‐17(note:2 Extraordinary income and losses)FY2015 1Q

Extraordinarylosses

2500
FY2014 1Q

FY2014 1Q

Y/Y36Extraordinary
incomeEquity innet losses

5FY2015
1Q0FY2015 1Q

33．Breakdown of Sales by Equipment
 AV Equipment: LCD TVs increased, DVD related products increased slightly.
 Info Equipment: Printers declined.
 Others:
Audio Accessories declined.
（100 million yen）

Y / Y (Change)（100 million yen）

AV Equipment

DVD Equip.： - 0430

296
DVD： 60
T V：236

OthersTotal： - 53 （-12.4%）

Sales Composition
DVD18% 14%

1551

Information
Equip.

13%Others
Information
Equip.

DVD

13% 16%4%FY2014TV

FY2014 1Q： - 26 (- 33.7%)

DVD： 60
T V：251

5777

Others311

OthersInformation
Equipment(- 0.2%)

TV Equip. ： + 15 (+ 6.2%)
Information Equipment ： - 42 (- 73.1%)

377
AVEquipment： + 15 (+ 4.9%)

55%

FY2015

TV67%

FY2015 1Q
4

4．Sales of DVD related Equipment
 Sales have increased slightly, due to an end in the effect of consumption
tax hike.
（100 million yen）

60

60

DVD Players

14（100 million yen）

17
Y / Y (Change)

DVD Recorders

1314

Blu‐ray disc2224Others

11
FY2014 1Q

DVD Recorders： + 3 （+19.2%）： + 1 （+13.5%）

Blu‐ray disc： + 2 （+10.2%）

DVD Players

Others： -6 （-61.4%）

Total： - 0 （ - 0.2%）

5FY2015 1Q
5

5．Sales of LCD Television Good sales in Japan, because the influence of consumption tax hike cameto an end. And sales have increased slightly in US.
（100 million yen）

236

251
（100 million yen）

Y / Y (Change)251

LCD TV：+ 15 （+6.2%）

236

FY2014 1Q

FY2015 1Q
6

6. Geographic Breakdown of Sales
 Americas: LCD TVs increased slightly, but Audio Accessories declined.
 Japan:LCD TVs and Blu-ray Disc Recorders had good sales.
（100 million yen）

（100 million yen）

Y / Y (Change)

430

Americas： - 45 （-13.5%）

Europe： - 14 （-79.9%）

Asia & Others： - 2 （ -37.2%）

Japan： + 8 （+11.5%）

Total： - 53 （-12.4%）

377

Americas336
291

Sales Composition
EuropeAsia & Others

17634Japan71

79

FY2014 1Q

FY2015 1Q

Asia&Others

EuropeJapan

1%17%
4%
FY2014
Americas 78%

Japan
Asia&Others

Europe21%1%1%
FY2015
Americas77%7

7. Factor of Changes of Operating Income＊ Add‐value=Sales – (Cost of sales + selling expenses)（100 million yen）

Y/Y

Operating
Income-21
Sales
decrease

OperatingIncome
Decrease ofAdd‐value-43-3-13Decrease ofGeneral
Expenses-6
FY2013 1Q

FY2014 1Q
8

8. Financial Conditions（100 million yen）
（100 million yen）

1,896

1,857

455

668

524

Assets+ 94388

・Cash / Deposit+ 69

・Accounts Receivables+ 60

・Inventories-・Fixed Assets and Others- 32

Cash / Deposit
Accounts
Receivables

AssetsInventories

Liabilities
AndNet Assets

328
531

381
425528Fixed Assets
and Others

449

422417

Trade Payables

285

316

295

338

302

326

Accounts Payables
and Others

Net Assets

前Y 期/Y比

1,763

1,140

1,278

1,236

1,763

1,896

1,857

2014/6

2015/3

2015/6

3

Liabilities-2

・Trade Payables+ 10・Accounts Payables
and Others- 12Net Assets+ 96（ Equity Ratio

65.9%）

99. Changes of Inventories（100 million yen）

531

528
425

Finished products272（100 million yen）

371
264

Work in process

Y/Y

256
160

161

2014/6

2015/3

2015/6

3.7 months

2.9 months

4.2 months<Inventories Turnover>Finished products： ‐ 99Work in process： + 961010. Capital Expenditures, Depreciation Expense and R&D Expenditures
1Q
CapitalExpenditures

Depreciation
ExpenseFull Year
R&DExpenditures

CapitalExpenditures

Depreciation
Expense

R&D
Expenditures（ 100 million yen ）（ 100 million yen ）

120

120

Y/Y
‐1Y/Y
‐7Y/Y
+5100

10080

80606096
404074047

2020

114

FY2014 FY2015
Q1Q1211110

FY2014 FY2015
Q1Q116FY2014 FY2015
Q1Q13247300FY2014 FY2015

FY2014 FY2015

FY2014 FY2015(Projection)(Projection)(Projection)

11Ⅱ. Appendix
1. Quarterly Operating Summary of FY 2014 ‐ 2015
2. Quarterly Changes of Sales Amount by Equipment
3. Quarterly Changes of Sales Amount by Geography
4. Projection of FY 2015 ( Full Year )5. Projection of Sales by Equipment in FY 2015 ( Full Year )6. Projection of Sales by Geography in FY 2015 ( Full Year )12

1．Quarterly Operating Summary of FY 2014 ‐ 2015
（ 100 million yen ）FY2014FY2015

1Q

2Q

3Q

S a l e s430

728

577

435

377

O p e ra t i n g I n c o m e‐21340‐8‐43)(‐4.9%)(4.7%)(0.1%)(‐1.9%)(‐11.4%)

Ordinary Income‐245215‐23‐37)(‐5.7%)(7.1%)(2.6%)(‐5.5%)(‐9.9%)Net Income Attributableto owners of parent

‐2349

13

‐25‐40(‐5.4%)(6.7%)(2.3%)(‐5.9%)(‐10.7%)101.87105.34116.04119.23121.72N e t(((M a r g i n

M a r g i n

M a r g i n

Average USD‐JPY
Exchange Rate)

4Q

1Q

13

2．Quarterly Changes of Sales Amount by Equipment（ 100 million yen ）DVD Equipment

TV Equipment

Information Equipment

Others

728
86577
97

430
60

43560528377603782362792515739171377758583

1551

1Q

2Q

3Q

4Q

1Q

FY2014FY201514

3 ． Quarterly Changes of Sales Amount by GeographyAmericas

EuropeAsia & OthersJapan（ 100 million yen ）

728

577
430

435

614

377
478
338

336

291

17671
1Q

18690

12582

14479

3479

2Q

3Q

4Q

1Q

FY2014FY201515

4 ． Projection of FY 2015 ( Full Year )（100 million yen）

FY 2014 Actual

N e t

S a l e s

1H

2H

1,158

1,012

Y/Y

FY 2015 Projection

Full year

2,170

1H

2H

911

1,289(Change)

Full year

1H

2H-247+277+30（－）（+27.3%）（+1.3%）

Full year

2,200

Operating Income

13-75-143016-27+37+11( m a r g i n )(1.2%)(-0.8%)(0.3%)(-1.5%)(2.3%)(0.7%)（－）（－）（+1.3%）

Ordinary Income

27-8

19-1830

12-45+38-7( m a r g i n )(2.4%)(-0.9%)(0.9%)(-2.0%)(2.3%)(0.5%)（－）（－） （-36.8%）

Net Income Attributableto owners of parent

26-1213-21254-47+37( m a r g i n )(2.3%)(-1.3%)(0.6%)(-2.3%)(1.9%)(0.2%)（－）（－） （-69.2%）

Average USD‐JPY
Exchange Rate

103.61117.63110.62-9118.00
16

5 ． Projection of Sales by Equipment in FY 2015 ( Full Year )TV related Equipment

DVD related Equipment（100 million yen）

【FY2014 vs FY2015】+16.0％【FY2014 vs FY2015】‐ 12.8％2,170303303【Minus Factor】
・Market had shrunk

1,649
1,421

2,200264【Plus Factor】
・Alter strategy of brandand distribution channels

264

FY2014FY2015FY2014(Projection)

FY2015(Projection)

1,421

OthersInformation Equipment【FY2014 vs FY2015】‐ 41.7％【FY2013 vs FY2014】‐ 21.0％126320126100【Minus Factor】
・Ink jet Printers(sell first year )187【Minus Factor】
・Audio accessories

100320FY2014FY2014FY2015(Projection)

1,649

FY2014FY2015(Projection)

187
FY2015(Projection)17

6 ． Projection of Sales by Geography in FY 2015 ( Full Year )（ 100 million yen ）EuropeAmericas【FY2014 vs FY2015】+ 1.6％
1,766

1,794

【FY2014 vs FY2015】‐ 41.5％36

FY2014FY2015【FY2014 vs FY2015】+ 32.7％32228342【Plus Factor】
・Laser Printers

FY2015(Projection)

1,79461213628322342FY2015

Japan

Asia & Others

FY2014

1,760【Minus Factor】
・DVD‐related products(Projection)(Projection)

21

2,20061【Plus Factor】
・LCD TVs

FY20142,170【FY2014 vs FY2015】+ 6.3％【Plus Factor】
・LCD TVs

FY2014FY2015(Projection)

FY2014FY2015(Projection)

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.

19