Presentation of Operating Results forthe 3rd Quarter (Apr.‐Dec.) of FY2012
January 28, 2013

FUNAI ELECTRIC CO., LTD.
Security code 6839

0Ⅰ．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 Expenditures11．Summary of 3rd Quarter (Oct.‐Dec.)（100 million yen）

FY 2011Net SalesMargin)

Margin)Net Income after tax(Margin)

Average USD‐JPY
Exchange Rate

△48580(△7.6%)

8△3△11(1.3%)(△0.7%)＋35 (※1)

832＋24(1.4%)(5.5%)△26 (※2)△56＋11(△1.0%)(1.2%)

Ordinary Income(Y/Y628

Operating Income(FY 2012

77.20＋35 (※3)

△13 (※4)

82.78（※1） interest received +1、forex gain +34、（※3） increase of forex gain＋33、decrease of interest expense＋1、other＋1（※2） extraordinary income +3、extraordinary loss ‐16、income taxes ‐4、 income taxes for prior periods ‐9（※4） increase of extraordinary income＋3、increase of extraordinary loss‐13、decrease of income taxes +6、increase of income taxes for prior periods ‐9Month End Exchange Rate

11/9

11/12

12/9

12/12

（USD/JPY）

76.65

77.74

77.60

86.58

2

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

FY 2011Net Sales
Operating Income(Margin)

Ordinary Income(Margin)

Net Income after tax(Margin)

Average USD‐JPY
Exchange Rate

FY 2012

Y/Y△5642,0341,470(△27.7%)29△18△47(1.4%)(△1.3%)＋19 (※1)

141△13(0.7%)(0.1%)△23 (※2)△35△22＋13(△1.8%)(△1.6%)

78.50

80.23

（※1） interest received +2、forex gain +17（※3） forex gain and loss +33、other +1（※2） extraordinary income +4、extraordinary loss ‐17
income taxes ‐1、 income taxes for prior periods ‐9（※4） increase of extraordinary income +4、increase of extraordinary loss ‐13
decrease of income taxes +35

Month End Exchange Rate

11/3

11/12

12/3

12/12

（USD/JPY）

83.15

77.74

82.19

86.58

＋34 (※3)＋26 (※4)3

3．Breakdown of Sales by Equipment
2,034（100 million yen）

（100 million yen）

1,470
Y/Y

DVD：521
T V ：990： ‐300 （‐19.9％）

AV Equipment

1,511

AVEquipment： ‐ 244： ‐ 56DVD Equip.
T V Equip.

1,211
DVD：277
T V ：934

Information
Equipment

251

Others

272

75
184

Previous 3Q

Current 3Q（Apr.‐Dec.）（Apr.‐Dec.）（‐46.8％）（‐ 5.7％）

Information Equipment： ‐176 （‐70.0％）

Others： ‐ 88 （‐32.3％）

Total： ‐564 （‐27.7％）

44．Sales of DVD related Equipment521（100 million yen）

DVD Players

DVD Recorders

・Both DVD players and recorders declined due tomarket contraction.

DVD Players

92
Blu‐ray disc

DVD Recorders

・BD players increased, but BD recorders significantly
dropped due to ongoing market contraction.

93277（100 million yen）

Y/Y

64
Blu‐ray disc

Others

DVD Players： ‐ 28 （‐30.4％）

DVD Recorders： ‐ 14 （‐15.1％）

Blu‐ray disc： ‐207 （‐65.9％）

107Others： + 5 （+22.7％）

2227Total： ‐244 （‐46.8％）

Previous 3Q

Current 3Q（Apr.‐Dec.）（Apr.‐Dec.）

314

795

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

990
934
LCD TV・Despite stability in the North American market, LCD
TVs declined due to reduced demand in the wake oftransition to digital terrestrial broadcasting in Japan.

990
934

（100 million yen）

Y/Y
： ‐ 56 （‐ 5.7%）

LCD TV

Previous 3Q

Current 3Q（Apr.‐Dec.）（Apr.‐Dec.）
6

6．Geographic Breakdown of Sales
North America

2,034（100 million yen）

・Although the Philips branded audio and accessories
products started selling, the sales of informationequipment and DVD‐related products declined.
・The sales of LCD TVs remained flat.

Japan

1,470
NorthAmerica

1,103(54%)

・The sales of BD recorders, LCD TVs, antenna andrelated devices fell in the wake of transition to digitalterrestrial broadcasting and due to ongoing market
contraction.

1,065
EuropeAsia & OthersJapan

108 (5%)138 (7%)

685
(34%)

（100 million yen）

(73%)

46 (3%)
93 (6%)
266

Y/Y
North America： ‐ 38 （‐ 3.5％）

Europe： ‐ 62 （‐57.1％）

Asia & Others： ‐ 45 （‐32.6％）

Japan： ‐419 （‐61.2％）

Total： ‐564 （‐27.7％）(18%)

Previous 3Q

Current 3Q（Apr.‐Dec.）（Apr.‐Dec.）

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

Sales decrease（100 million yen）

+29
Operating
Income-48
Decreased
add‐value*-12

Previous 3Q

Decrease ofgeneral
expenses-18
Operating
Income+13

Current 3Q8

8．Financial Conditions（100 million yen）

Cash / Deposit

AssetsLiabilities
AndNet Assets

1,820

1,766

765

726

1,796
615

Comparison to 2011/12Assets‐ 24・Cash / Deposit‐ 150351

・Accounts Receivables‐ 22339438

・Inventories

+ 135

379

379

392

・Fixed Assets andOthers+ 13

Trade Payables

338
273

296
232

292

Accounts Payables
and Others

Liabilities‐ 46

・Trade Payables‐ 46

・Accounts Payables
and Others−

Accounts
Receivables

373

322

Inventories

303

Fixed Assets
and Others

Net Assets

1,209

1,238

273

1,231

1,820

1,766

1,796

2011/122012/3

2012/12Net Assets+ 22（Equity Ratio67.8%）

9

9．Changes of Inventories

438
339
303
341
192

Finished products（100 million yen）

223

Comparison to 2011/12

111

116

97

2011/122012/3

2012/12

1.5 months

2.4 months

2.3 months

Work in process

Finished products： +149Work in process： - 14<Inventories Turnover>10

10．Capital Expenditures, Depreciation Expenseand R&D Expenditures
3Q (Apr.‐Dec.)
CapitalExpenditures

Depreciation
ExpenseFull Year
R&DExpenditures

CapitalExpenditures

Depreciation
ExpenseR&DExpenditures（100 million yen）

（100 million yen）

120

120

−‐7‐10100

10080

80

60

60

105
103

79

40

69

40

49
20

28

28

36

20

2940

40

4000
2011/12 2012/12

2011/12 2012/12

2011/12 2012/12

FY2011 FY2012（Projection）

FY2011 FY2012（Projection）

FY2011 FY2012（Projection）

11

Ⅱ.

Supplemental Data ①
Summary of Operating Results (Oct.‐Dec.）
1.
2.
3.

Sales by Equipment
Sales by AV Equipment
Geographic Sales

12

1．Sales by Equipment

628（100 million yen）

580
（100 million yen）

Y/YAV
Equipment

500
DVD：166
T V ：334

466
DVD：126
T V ：340

InformationEquipment

69

34

Others59

80

Previous 3Q

Current 3Q(Oct.‐Dec.)(Oct.‐Dec.)

AV Equipment
DVD Equip.
T V Equip.

： ‐ 34 （‐ 6.8%）： ‐ 40： + 6（‐24.1%）（+ 1.8%）

Information Equipment： ‐ 35 （‐50.7%）

Others： + 21 （+35.6%）

Total： ‐ 48 （‐ 7.6%）

13

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

TV

（100 million yen）

166

334

340

334

340

32

DVD Players

126
29

DVD Recorders

23
LCD TV37
94

Blu‐ray disc50

1116

Previous 3Q

Current 3Q

Previous 3Q

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

Others(Oct.‐Dec.)

14

3．Geographic Sales（100 million yen）

628
580

North
America（100 million yen）

390
(62%)

EuropeAsia & OthersJapan

39 (6%)
39 (6%)(26%)

19 (3%)
38 (6%)
102

Previous 3Q

Current 3Q(Oct.‐Dec.)(Oct.‐Dec.)

160

Y/Y421(73%)

North America：+ 31 （+ 7.9%）

Europe： ‐ 20 （‐51.3%）

Asia & Others： ‐ 1 （‐ 2.6%）

Japan： ‐ 58 （‐36.3%）

Total： ‐ 48 （‐ 7.6%）

(18%)

15

Ⅲ．Supplemental Data ②

1. Quarterly Operating Summary of FY 2011 / 2012
2. Quarterly Changes of Sales Amount by Equipment

16

1．Quarterly Operating Summary of FY 2011 / 2012（100 million yen）

FY 2011

FY 2012

1Q

2Q

3Q

4Q

1Q

2Q

3Q

S a l e s

656

750

628

427

400

490

580

Operating Income

3178-24-9-5-3( M a r g i n )（0.5％）（2.4％）（1.3％）(-5.8%)(-2.4%)(-1.0%)（-0.7％)

Ordinary Income048-12-20-1032( M a r g i n )（0.1％）（0.6％）（1.4％）(-2.9%)(-5.1%)(-2.0%)（5.5％)Net Income after tax-23-6-5-10-18-116( M a r g i n )（-3.6％）（-0.9％）（-1.0％）(-2.4%)（-4.6％）（-2.3％）（1.2％)

N e t17

2．Quarterly Changes of Sales Amount by Equipment
DVD Equipment

TV Equipment

Information Equipment

Others（100 million yen）

750
656
171
184

628
166

379
277

580
490
427
1054007081334

87

95

108

105

1Q

2Q

69
59
3Q

(11/6)(11/9)(11/12)

126

354

340

219

240

49
54
4Q

26
53
1Q

1551
2Q

3Q

(12/3)(12/6)(12/9)(12/12)

3480

18Disclaimer

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 business performancethat 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 such areas
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