Optorun Co., Ltd

Financial Results(1Q 2021）

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Financial Highlights (1Q 2021)
Sales and operating profit (Quarterly)
Sales by Business Segment (Quarterly)
Orders received (Quarterly)
Consolidated Balance Sheet (1Q 2021)

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1 Financial Highlights (1Q 2021)
 Orders received saw a solid recovery from Year 2020 with a surge in volume in both North America and East
Asia in the smartphone, IoT and LED-related areas.
 New model products, including new Sputters, ALD, LED coaters, drove overall performances.
 High-margin new model product sales and continuous cost reduction effort resulted in gross margin increase.
 The U.S. dollar appreciation also contributed to recurring profit and net profit.
(¥100 million) [Gross Margin and Operating Margin][Performance Comparison]

1Q 2020

1Q 2021

Gross profit Margin

YoY change

Net sales

68.3

68.8

0.6%

50.0%

Gross profit

28.8

31.8

10.5%

45.0%

(42.2%)(46.3%)

12.6

15.1

(18.6%)(22.0%)

16.1

16.7

(23.6%)(24.3%)

18.1

21.7

(26.6%)(31.5%)

14.4

14.5

(21.1%)(21.1%)

7.0

7.2(10.3%)(10.5%)

3.0

3.11.5%

Orders received

125.7

91.3

△27.4%

Order Backlog

382.0

258.3

△32.4%(Gross profit Margin)
SGA expenses(SGA expenses ratio)
Operating profit(Operating profit Margin)
Ordinary profit(Ordinary Profit Margin)
After Tax profit(After Tax profit Margin）
Research and development
expenses(Ratio of R&D Expenses to NetSales)
Capital expenditures

―
19.3%

40.0%

46.3%
42.2%

3.5%
―
19.5%

―
3.0%

37.8%

30.0%
25.0%

23.6%

20.0%
0.5%

39.3%
38.7%

35.0%

―

Operating profit Margin

23.6%

24.0%

3Q 2020

4Q 202024.3%

20.9%

15.0%
10.0%
5.0%

―0.0%

1Q 2020

2Q 2020

1Q 20212

2 Sales and operating profit (Quarterly)
 Sales of new sputter coater accounted for 29% of net sales. The new model sputter coater sales
to North American smartphone maker were recorded for the second consecutive quarter.
 Sputter coater : Evaporation coater = 40:50
 The overall 1Q sales were flat year-on-year. The decline from the 4Q was due to the sizable 4Q
sputter sales in North America that pushed up the overall 4Q sales.
(¥100 million)

Sales of new equipment

140SalesOperating profit

12812097

100808068686040

16200

91Q 2020

742030161821182Q 2020

3Q 2020

194Q 2020

1Q 20213

3 Sales by Business Segment (Quarterly)
 Sales for smartphone application were mainly for camera modules and 3D cameras.
 IoT sales were solid (28% of sales). In particular, optical communication network and biometricauthentication applications contributed most significantly.
(¥100 million)

128

7120

14100

OtherLEDIoT
Camera lensSmartphone

4977806860402003610640

1Q 20202480

27374273948522Q 2020

77343Q 2020

68192334Q 2020

1Q 20214

4 Orders received (Quarterly) Orders received in 1Q increased by 70% from the 4Q 2020.
 Received orders from North American smartphone maker for the new model sputter coater.
 The IoT sector, including automotive, biometric, optical communication network, and AR/VR,continued to lead the overall growth, turning itself into the largest product category.
 Orders for new model products accounted for more than 40% of the total. Orders for the newmodel sputter coater and ALD equipment were particularly strong.
140120100OtherLEDSmartphone(¥100 million)

9121

41163

2604091

1480

IoT
Camera lens

12587

126420028
1Q 2020

2Q 202053
431312917143Q 2020

2152
94Q 202039332
1Q 20215

5 Consolidated Balance Sheets (1Q 2021)
 Cash and deposits increased by 3.7 billion yen due to collection of trade receivables.
 Advances received increased by 1.5 billion yen due to increase in orders.
[Assets](¥100 million)
600

543

(¥100 million)
600

579

500

227264

Cash and depositsNotes and accounts
receivable

300

97
200

0

Inventories

90

Other

111

114

9894

99

End of

End of March

December

2021

100

32020

579

543

500

400

[Liabilities and Net Assets]

400

334 1789

105

2525

114

11Notes and accounts
payable - trade
Short-termborrowings
Advances received

300

Other
200

395

399

Non-current liabilities

Non-current assets
100

3Total net assets

Investment securities
0

End of

End of March

December 2020

2021

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Disclaimer, Precautions, and Contact
Information
The information contained in this document has been prepared on the basis of generally acceptedeconomic and social conditions as of May 11, 2021, and certain assumptions that we judged
reasonable. However, the information contained in this document may be changed without priornotice due to changes in the business environment or other reasons.
The materials and information provided in this publication include so-called forward-lookingstatements. These forward-looking statements are based on current expectations, projections andrisky assumptions, and contain uncertainties that may cause results that differ materially fromthese statements.
These risks and uncertainties include general industry and market conditions, general domestic
and international economic conditions such as interest rates and currency fluctuations.
We are not obligated to update or revise the forward-looking information contained in this reporteven if new information or future events occur.
Contact Information
E-mail:ir-info@optorun.co.jp

TEL:03-6635-9487

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