Presentation of Operating Results forthe 3rd Quarter (Apr.‐Dec.) of FY2013
February 3, 2014

FUNAI ELECTRIC CO., LTD.
TSE 68390Ⅰ．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 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 3rd Quarter (Oct.‐ Dec.)（100 million yen）

FY 2012FY 2013

Y/Y+70S a l e s580

650(+12.1%)

Operating Income‐3‐1+2)(‐0.7%)(‐0.2%)+27 (※1)

O rd i n a r y I n co m e

32

26‐6N e t(Margin)(5.5%)(4.1%)‐15 (※2)

Net Income after tax

611+5(1.2%)(1.7%)((MMaarrggiinn)

Average USD‐JPY
Exchange Rate

82.78（※1） interest expense ‐1、forex gain +29、other ‐1（※2） extraordinary loss ‐14、income taxes ‐1‐8 (※3)

+11 (※4)102.10（※3） decrease of interest received ‐1、 increase of interest expense ‐1、forex gain and loss ‐5、other ‐1（※4） decrease of extraordinary gain ‐3、decrease of extraordinary loss +2、decrease of income taxes +3、 decrease of income taxes for prior periods +9Month End Exchange Rate

12/9

12/12

13/9

13/12

（USD/JPY）

77.60

86.58

97.75

105.392

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

FY 2012FY 2013

Y/Y+385

S a l e s

1,4701,855

Operating Income‐184+22)(‐1.3%)(0.2%)+44 (※1)

O rd i n a r y I n co m e148+47)(0.1%)(2.6%)‐31 (※2)

Net Income after tax‐2217+39(‐1.6%)(0.9%)

80.23

99.80

N e t(((MMMaaarrrgggiiinnn)

Average USD‐JPYExchange Rate(＋26.2%)+25 (※3)‐8 (※4)（※1） interest received +1、interest expense ‐1、 （※3） decrease of interest received ‐1、increase of forex gain +31、forex gain +48、other ‐4other ‐5（※2） extraordinary loss ‐27、income taxes ‐4（※4） decrease of extraordinary gain ‐3、increase of extraordinary loss ‐11、increase of income taxes ‐3、decrease of income taxes of prior periods +9Month End Exchange Rate

12/3

12/12

13/3

13/12

（USD/JPY）

82.19

86.58

94.05

105.393

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

1,855

1,470

（100 million yen）

Y/Y

1,457
DVD： 293
T V ：1,164

AV
Equipment

Information
Equipment
Others： +246 （+20.3％）

AV Equipment： + 16： + 230

DVD Equip.
LCD TV（+ 5.8％）（+24.6％）

1,211

Information Equipment： + 73 （+96.1％）

DVD：277
T V ：934Others： + 66 （+35.8％）

Total： +385 （+26.2％）

148
75
184

250

Previous 3Q

Current 3Q（Apr.‐Dec.）（Apr.‐Dec.）

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

277

293
Blu‐ray disc67
DVD Players

64

・BD players increased in North America.

（100 million yen）

70
DVD Recorders

79

Y/Y

119
Blu‐ray disc

Others107

2737

Previous 3Q

Current 3Q（Apr.‐Dec.）（Apr.‐Dec.）

DVD Players： + 3 （+ 4.7％）

DVD Recorders： ‐ 9 （‐ 11.4％）

Blu‐ray disc： + 12 （+11.2％）

Others： + 10 （+37.0％）

Total： + 16 （+ 5.8％）55．Sales of LCD Television（100 million yen）

1,164
LCD TV934

・LCD Tvs increased revenue because of strong sales
in North America and Mexican market.

1,164934（100 million yen）

Y/Y
LCD TV

Previous 3Q

Current 3Q（Apr.‐Dec.）（Apr.‐Dec.）： +230 （+24.6%）

6

6．Geographic Breakdown of Sales（100 million yen）

1,855

North America
・Sales of LCD TVs, audio accessories products, DVD‐related products and information equipment
increased.

1,470
Asia & Others

1,347

・The sales of LCD Tvs showed steady increases inMexico.

(73%)

NorthAmerica（100 million yen）

1,065

Y/Y(73%)

Europe： +282 （+26.4％）： + 14 （+29.1％）

Asia & Others： + 91 （+97.8％）

Japan： ‐ 2 （‐ 0.6％）

Total： +385 （+26.2％）

North America

60
EuropeAsia & Others

46 (3%)
93 (6%)

Japan

266(3%)

184 (10%)264(18%)(14%)

Previous 3Q

Current 3Q（Apr.‐Dec.）（Apr.‐Dec.）

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

Salesincrease

Decreased
add‐value*‐2Increase ofgeneralexpenses‐5OperatingIncome294
Operating
Income‐18

Current 3Q

Previous 3Q

88．Financial Conditions（100 million yen）

1,796
Cash / Deposit

AssetsLiabilities
AndNet Assets

615

1,945

1,844

678

447

331

453

Accounts
Receivables

351

Inventories

438

556

466

Fixed Assets
and Others

392

380

478

Trade Payables

292

391

261

Accounts Payables
and Others

273

Net Assets

1,231

1,796
2012/12

341

1,213

1,945
2013/3

306

1,277

1,844

Comparison to 2012/12
Assets+ 48

・Cash / Deposit‐168

・Accounts Receivables+102

・Inventories+ 28

・Fixed Assets and Others+ 86Liabilities+ 2・Trade Payables‐ 31・Accounts Payables
and Others+ 33

Net Assets+ 46（ Equity Ratio68.7%）

2013/129

9．Financial Conditions（100 million yen）

556
466

438
345

（100 million yen）

313

Comparison to 2012/12

341

Finished products

211
Work in process

Finished products： ‐ 28Work in process： + 56153

97

2012/122013/3

2013/122.3 months

3.7 months

2.2 months<Inventories Turnover>10

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

DepreciationExpense

Full Year
R&DExpenditures

CapitalExpenditures

Depreciation
Expense

R&D
Expenditures（100 million yen）

（100 million yen）

140

140+71+10‐5120120

1001008080609340692028122609929643993

4020534060

00
2012/12 2013/12

2012/1 2013/122

2012/12 2013/12

FY2012 FY2013（Projection）

FY2012 FY2013（Projection）

FY2012 FY2013（Projection）

11

Ⅱ．Appendix ①< Summary of Operating Results (Oct.– Dec.) >
1.
2.
3.

Sales by Equipment
Sales of AV Equipment
Sales by Geography

12

1．Sales by Equipment（ 100 million yen ）650580（ 100 million yen ）Y/YAVEquipment

466DVD ：126
T V ：340

518
DVD：121
T V ：397

InformationEquipment

3441

Others8091

Previous 3Q

Current 3Q(Oct.‐ Dec.)(Oct.‐ Dec.)

AV Equipment： + 52 （+11.2%）

DVD Equip.
LCD TV： ‐ 5 （‐ 4.0%）： + 57 （+16.8%）

Information Equipment： + 7 （+20.6%）

Others： + 11 （+13.8%）

Total： + 70 （+12.1%）

13

2．Sales of AV Equipment
DVD related Equipment126

TV related Equipment（ 100 million yen ）（ 100 million yen ）

397

121
340

23

DVD Players

DVD
Recorders

2537

31

397
LCD TVs

Bru‐ray disc50

Others

16340

4421Previous 3Q

Current 3Q

Previous 3Q

Current 3Q(Oct.‐ Dec.)(Oct.‐ Dec.)(Oct.‐ Dec.)(Oct.‐ Dec.)
14

3．Sales by Geography（ 100 million yen ）650
580（ 100 million yen ）Y/Y465North
America

421

(72%)

(73%)

EuropeAsia & OthersJapan

19 (3%)
38 (6%)

21 (3%)
70 (11%)

102

94

(18%)

(14%)

Previous 3Q

Current 3Q(Oct.‐ Dec.)(Oct.‐ Dec.)

North America： + 44 （+10.5%）

Europe： + 2 （+10.5%）

Asia & Others： + 32 （+84.2%）

Japan： ‐ 8 （‐ 7.8%）

Total： + 70 （+12.1%）

15

Ⅲ．Appendix
1. Quarterly Operating Summary of FY 2012 / 2013
2. Quarterly Changes of Sales Amount by Equipment
3. Quarterly Changes of Sales Amount by Geography

16

1．Quarterly Operating Summary of FY 2012 / 2013（100 million yen）

FY 20121Q

N e t

FY 2013

2Q

3Q

4Q

1Q

2Q

3Q

S a l e s

400490580

450505700650

Operating Income‐9‐5‐3‐34‐1722‐1( M a r g i n )(‐2.4%)(‐1.0%)(‐0.7%)(‐7.6%)(‐3.4%)(3.3%)（‐0.2％)O rd i n a r y In co m e‐20‐1032‐412026( M a r g i n )(‐5.1%)(‐2.0%)(5.5%)(‐1.1%)(0.2%)(2.9%)（4.1％)Net Income after tax‐18‐116‐62‐0611( M a r g i n )（‐4.6％）（‐2.3％）（1.2％）(‐13.9%)（‐0.0％）（0.9％）（1.7％)

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2．Quarterly Changes of Sales Amount by Equipment
DVD Equipment

LCD TVs

Information Equipment

Others（ 100 million yen ）

700
79

580
490
400

126

650
121

505
450

70

93

81481

81

397
340
354

265

240

286

44
60

4977

58
82

4191

26
53

1551

3480

1Q

2Q

3Q

4Q

1Q

2Q

3Q

(12/6)(12/9)(12/12)(13/3)(13/6)(13/9)(13/12)18

3．Quarterly Changes of Sales Amount by Geography
North America

EuropeAsia & OthersJapan（ 100 million yen ）

700
650
580
505

490

450

400
421
375
269

(73%)

(77%)

268

341

(60%)

(67%)

16 (3%)
73(16%)
93

19 (4%)
50 (10%)95(21%)

(19%)

541

465

(77%)

(72%)

(67%)

15 (4%)
26 (7%)
90(22%)

12 (2%)
29 (6%)
74(15%)

19 (3%)
38 (6%)
102(18%)20 (3%)
64 (9%)
75(11%)

21 (3%)
70 (11%)
94
(14%)

1Q

2Q

3Q

4Q

1Q

2Q

3Q

(12/6)(12/9)(12/12)(13/3)(13/6)(13/9)(13/12)19

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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