Second Quarter FY2020

Financial Results
Ushio Inc.
October 30, 2020
This report contains forward-looking statements, including earnings forecasts, which are
based on information currently available to the Company and on certain assumptions
deemed to be reasonable. Please be advised that actual results may differ substantiallyfrom those forward-looking statements due to various factors.
* All figures in the material have been rounded down to the nearest billion yen.
* FY2020 starts from April 1st, 2020 through March 31st, 2021.
Copyright © 2008 Ushio Inc. All rights reserved

Copyright © 2008 Ushio Inc. All rights reserved

２Q FY2020 Overview■ Update on Impact of the Spread of the Novel Coronavirus (COVID-19)■ Net Sales and Earnings Decreased to YoY for ２Q FY2020 (Result) and
YoY for FY2020 (Full-year Forecast) because of COVID-19 impact■ YoY for FY2020 (Full-year Forecast ):Reasons on FY2020 Financial Results Forecast Revision

Copyright © 2008 Ushio Inc. All rights reserved2Agenda
I.
II.
III
IV.
V.

Update on Impact of the Spread of
the Novel Coronavirus (COVID-19)
Financial Results for 2Q FY2020
Forecast for FY2020
TopicsSupplementary Information

Copyright © 2008 Ushio Inc. All rights reserved3Update on Impact of the Spread of the Novel Coronavirus (COVID-19)
Latest status of Ushio Group’s business sites (summary)（Note）Information as of October 30, 2020

 For the purpose of preventing chances for infection, continue to operate under teleworking and flex-time basis at domestic
sites and mainly in North America.
 For production sites, production adjustments have been made at domestic and overseas sites as follows:- Lamps for cinema (Japan and Philippines): maintaining production adjustments- Imaging equipment (Canada and China): maintaining production adjustments (implementing headcount reduction)

FY2020 Performance Impact (precondition)
Visual Imaging Field Please refer to slide 12 for “Update on latest business environment of imaging related business”

Electronics Field
 While demand remains steady, we might expect delays in and acceptance inspections caused by delays in installations.

Others UV light disinfection and virus inactivation device Care222 has started selling from this September (Please refer to slide 20)
 FY2020 YoY forecast does not include impact of second wave of COVID-19 and additional lockdowns.

Copyright © 2008 Ushio Inc. All rights reserved

4

I.
II.
III
IV.
V.

Update on Impact of the Spread of
the Novel Coronavirus (COVID-19)
Financial Results for 2Q FY2020
Forecast for FY2020
TopicsSupplementary Information

Copyright © 2008 Ushio Inc. All rights reserved

5Highlights of Financial Results for FY2020
Net Sales : 52.0 billion yen (▲29.9 billion yen YoY, ▲36.6%)
Significant decline in sales of image equipment and lamps for cinema (light source business)due to COVID-19

Operating Income : ▲1.0 billion yen (▲5.9 billion yen YoY)
Decline in profit due to COVID-19, despite of SGA reduction effort

Profit Attributable to Owner of Parent: ▲1.9 billion yen(▲4.9 billion yen YoY）
COVID-19 related: Non-operating Income
Extraordinary Expense

Employment Adjustment Subsidy
Restructuring Costs
Loss on Temporary Closing and others

0.8 billion yen
0.8 billion yen
0.8 billion yen※FOREX（FY20_1H）: US$1＝107 yen
Copyright © 2008 Ushio Inc. All rights reserved

6Summary of Financial Results
FY19
1H（billion yen）

YoY

FY20
1H

FY20 Forecast

10.30

Achievement
Rate (％)

changes

％

▲29.9

▲36.6

119.0

43.7

▲5.9

－

▲2.2

－

▲8.0P

－

▲1.9

－

▲5.4

▲93.1

0.2

161.6

▲4.9

－

▲3.2

－

Center Valueafter revision

4.8

52.0
▲1.0

5.9

▲2.1

Ordinary Income

5.8

Profit (Loss) Attributable to Ownersof Parent

3.0

0.4
▲1.9

EPS（yen）

24.41▲16.36▲40.77－▲26.96

－

USD

109

108

▲2

－

105

－

EUR

122

118

▲1

－

120

－

82.0

Net Sales
Operating Income (Loss)
Operating Income (Loss) (%)

Forex（yen）

FOREX sensitivity: Amount of impact from 1 yen fluctuations(full-year)

against USD

Net Sales

Operating Income

Approx.￥1.0 billion

Approx. ￥0.15 billion

Copyright © 2008 Ushio Inc. All rights reserved

7

YoY Variation Analysis of Operating Income(billion yen)

4.8

▲0.1

COVID-19 impact to operating income(based on Gross Profit)▲4.4

Approx. ▲8.3 billion yen

Forex
Lamps for cinema and data projectors
COVID-19 impact and etc.

▲0.5
FY19_1H
Operating Income
Light Source Business(mainly from impact of
net sales up/down)

▲1.0

▲3.9

▲0.3

＋1.5

Optical Equipment
Business(mainly from impact
of net sales up/down)

Mainly impact
of COVID-19＋1.7

FY20_1H
Operating Income
OthersIncluding SGA

Imaging Equipment Impact ofBusiness
Fixed Cost
(mainly from impact of Reduction▲5.9 billion yen
Note: Figures other than “FOREX” exclude forex impact

net sales up/down)

Copyright © 2008 Ushio Inc. All rights reserved

8

Financial Results by Business Segments(billion yen)Light Source
Business
OpticalEquipment
Business

OthersElimination andcorporate

Ref：Net sales breakdown for Light Source Business

YoY
Changes

％

FY19
1H

FY20
1H

YoY
％

Changes

30.4

21.0

▲9.3

▲30.8

UV lamp

20.8

13.9

▲6.8

▲32.8

3.6

0.6

▲2.9

▲81.3

Halogen
lamp

5.3

3.9

▲1.3

▲25.9

Operating Income (%)

11.9

3.2

▲8.7P

-

Solid state
light source

4.2

3.0

▲1.1

▲27.4

Net Sales

18.0

16.3

▲1.7

▲9.5

Operating Income

0.3

0.1

▲0.1

▲51.4

Operating Income (%)

1.8

1.0

▲0.8P

-

31.7

13.4

▲18.3

▲57.8

Operating Income (Loss)

0.6

▲1.9

▲2.6

-

Operating Income (%)

2.2

▲14.4

▲16.6P-

Net Sales

1.7

1.2

▲0.4

▲29.2

Operating Income (Loss)

0

▲0.0

▲0.0

▲229.1

Operating Income (%)

1.1

▲1.9

▲3.0P

-

Operating Income

0.1

0.0

▲0.1

-

Net Sales
Operating Income

Net Sales

Image
Equipment
Business (*)

FY20
1H

FY19
1H

*：Including「Illumination Equipment and others subtracted from Equipment Business 」by FY2019*：Net sales indicates sales to unaffiliated customers. Operating income ratio indicates the ratio of operating income against sales to unaffiliated customers.

Copyright © 2008 Ushio Inc. All rights reserved

9

Business Environment and Business Segment Overview
Electronics Field
Business
Environment
Light Source
Business

In electronics-related markets, operation is coming back to pre-COVID-19 level, while new capital
investments are in recovering stage.
・ FPD: New investment is shifting from LCD to OLED. Despite LCD production slowing down in Korea, operation in
China is solid.
・ Semiconductor and PCB: 5G related investments are solid, while smartphone-related consumer demand is unclear.
Comparison to 1H FY2019

UV Lamps+0.0 billion yen +0%

UV Equipment+1.4 billion yen ▲16%

Equipment
Business

Cure Equipment▲3.3 billion yen ▲64%

Others+0.2 billion yen +5%

・ Lamp demand decreased due to Korean manufacturer’s LCD production decline
・ Demand for semiconductor and electronic components is sold・ Sales decreased of exposure system for electronic components and COF
・ Sales increased of Large Field Stepper for latest IC package

・ Sales decreased of LCD-related equipment as investments settled down

・ Sales increased of EUV light source for EUV lithography mask inspection

Note: Indicated value (income, %) represents YoY comparison.
Copyright © 2008 Ushio Inc. All rights reserved

10Business Environment and Business Segment Overview
Visual Imaging Field
Due to COVID-19, visual imaging-related markets are generally sluggish.

Business
Environment

・ Movie theaters are partially reopened from the end of 1H; however, operation in main markets, such as North
America and China is limited.
・ Amusement parks and industrial facilities have reopened in some areas in Asia but at low levels; continuous
suspensions of world’s events
・ Due to impact of COVID-19, demand declined for data projectors and OA equipment
Comparison to 1H FY2019

Lamps for cinema

Light Source
Business▲5.1 billion yen ▲81%

Lamps fordata projectors

・ Lamp demand declined as projector demand declined due to COVID-19▲1.9 billion yen ▲58%

Lamps for OA▲0.8 billion yen ▲29%

Equipment
Business

・ Replacement demand decreased as movie theaters closed worldwide and screen
operation diminished substantially

Cinema▲9.8 billion yen ▲62%

General Imaging▲8.2 billion yen ▲55%

Note: Indicated value (income, %) represents YoY comparison.

・ Lamp demand declined as OA equipment declined due to COVID-19
・ Projector sales decreased as investment movements declined due to prolonged
suspensions of movie theaters worldwide
・ Projects decreased for events and industrial facilities, such as amusement parks
Copyright © 2008 Ushio Inc. All rights reserved

11Update on latest business environment for imaging-related business
Latest business environment
Continued to experience a difficult time, particularly in cinema and event-related business Cinema: Continuous impact of COVID-19
・Postponement of distribution of major Hollywood movies have been announced one after another and Europe andUS have been forced to close or change their operational systems
・Major area trends
North America: Gradual movement to reopen; however, policies vary from state to state
Movie theaters in some states are still closed and unclear when to reopen
China: Resumed operations with limited scale
EMEA: Re-closure increased due to second wave of COVID-19

 Non-cinema: Event related markets with continuous self-restraints, other markets gradual recovering

Production system of lamps for cinema
Maintain certain level of production adjustment after October“Structural Reform” effort of imaging equipment
Headcount reduction of 300 employees have been implemented and completed→ Recorded 0.8 billion yen for restructuring cost (extraordinary expense) and expects cost-cutting effect(production expenses and SGA) after 2H.

Copyright © 2008 Ushio Inc. All rights reserved

12

I.
II.
III
IV.
V.

Update on Impact of the Spread of
the Novel Coronavirus (COVID-19)
Financial Results for 2Q FY2020
Forecast for FY2020
TopicsSupplementary Information

Copyright © 2008 Ushio Inc. All rights reserved

13Summary of Financial Results FY2020
Financial Results Forecast Revision
As uncertain outlook continues in the image related business, Ushio revised both upper and lower limits of the sales
range downward. On the other hand, we will strive to improve profitability through cost reductions and other measures.

FY20 Forecast(billion yen)

Revision

FY19
ResultChangesAnnounced on 05.12

Changes

Net Sales

115.0 ～

123.0

125.0 ～

135.0

▲10.0 ～

▲12.0

159.0

▲44.0 ～

▲36.0

Operating Income (Loss)▲4.0 ～▲0.5▲5.0 ～

0.5＋1.0 ～▲1.0

6.6▲10.6 ～

▲7.1

▲3.5 ～

▲0.4

～

0.4

＋0.5P

～

▲0.8P

4.2

▲7.7

～

▲4.6

Ordinary Income (Loss)▲1.5 ～

2.0▲3.5 ～

2.0＋2.0 ～－

8.7▲10.2 ～

▲6.7

Profit (Loss) Attributable to
Owners of Parent▲5.0 ～▲1.5▲7.5 ～▲2.0＋2.5 ～＋0.5

8.9▲13.9 ～

▲10.4

EPS（yen）▲41.48 ～▲12.44▲62.23～▲16.59▲20.75

～

▲4.15

73.25

▲114.73～▲85.69

ROE（％）▲2.5 ～

▲0.8

▲3.8

～

▲1.0

0.2

～

1.3

4.3

▲6.8

～

▲5.1

Operating Income (%)

FOREX (yen)

▲4.0

USD

105

105

－

109

▲4

EUR

120

120

－

121

▲1

Copyright © 2008 Ushio Inc. All rights reserved

14

Net Sales and Operating Income Forecast by Sub-segment / Outlook for 2H(billion yen)

OpticalEquipment
Business
Imaging
Equipment
Business*

OthersTotal

1H(revision)(Result)

Achievement
Rate※ (％)

44.0 ～ 47.0

21.0

46.3

0.5 ～ 1.5

0.6

67.8

Operating Income (%)

1.1% ～ 3.2%

3.2－

Net sales

40.0 ～ 42.0

16.3

39.9

0.0 ～ 1.0

0.1

32.2

Operating Income (%)

0.0% ～ 2.4%

1.0－

Net sales

27.0 ～ 30.0

13.4

47.1

Operating Loss

▲4.5 ～▲3.0

▲1.9

－

▲16.7%～▲10.0%

▲14.4

－

Net sales

Light Source
Business

FY20 Forecast

Operating Income

Operating Income

Operating Income (%)

Net sales

4.0

1.2

30.2

Operating Income (Loss)

0.0

▲0.0

－

Operating Income (%)

0.0％

▲1.9

－

Net sales

115.0 ～ 123.0

52.0

43.7

Operating Loss

▲4.0 ～ ▲0.5

▲1.0

－

Operating Income (%)▲3.5 ～ ▲0.4%

▲2.1

－

*：Including 「Illumination Equipment and others subtracted from Equipment Business 」by FY2019

Outlook for 2H・Lamps for cinema: Uncertain business environment continues(Max) After 3Q, reopening gradually expand, movie theater operation will
recover(Min) From 3Q to 4Q, reopening gradually expand, however, movie theater
operation remain sluggish
・UV lamps: Market demand mainly in semiconductor slowly increasing
・Lamps for data projectors: Demand remain sluggish
・ Lamps for OA: Slowly recovering
・Sales increasing of Large Field Stepper for latest IC package
・Sales increasing of EUV light source for mast inspection as planned
・Sales slowly increasing of Di exposure system for print circuit board due to
5G-related demand increasing
・Sluggish demand for COF exposure system
・Same as lamps for cinema, movie theater operation will gradually reopen;
however, uncertain business environment and investments will remain weak・Amusement parks/industrial facilities and investments to companies willslowly restart but at lower levels than the past years
・Continuous suspensions of world’s events・Continuous investigation of measures such as sales sites review

・No anticipation of major re-lockdown or other similar event

Copyright © 2008 Ushio Inc. All rights reserved

15

New Medium-Term Management Plan Progress
Expected operating income decrease/increase scenario(billion yen)

Ambitious
targetRequiredtarget

3.0
6.0

+4.5
～+10.0

5.0

11.0

19.0
14.0

▲5.0
～+0.5

6.6

5.0

(5.0)
▲11.6
～▲6.1
FY2019operating income

Impact of
Expected FY2020
COVID-19, etc. operating income

Self-recovery
from COVID-19

Effect of income
Action planincrease due to structural reforms
action plan, etc.

Action plan
Strategic
investment

FY2022operating income(ambitious target)

Business risk
buffer

FY2022operating income(required target)

Copyright © 2008 Ushio Inc. All rights reserved

16

New Medium-Term Management Plan Progress
Operating Income(billion yen)

New MediumTerm
Management
Plan Scenario

Expectation
in FY20

COVID-19 impact,
Effect of income increase, etc.

▲11.6～▲6.1▲10.6～▲7.1

Self-recovery from COVID-19＋4.5～＋10.0－

Comment

Operated cost reduction but fell slightly below the expectation

Will be expected after FY2021

Action Plan

① Effect ofincome increase② Structural reforms③ Strategic investment

Center Value

＋11.0

＋6.0

▲3.0

＋1.0

(＋1.5～＋0.5)

・Sales of promising optical equipment products proceeded as planned and is
expected to start to contribute to the performance from the 2H・Sales of Care222 has started since September as planned. Production
system preparation and business alliance have been progressed as planned.

＋2.0・Structural reforms (headcount reduction) in imaging equipment businessand effect is expected from next fiscal year onward (2 billion yen/ year)
・Measurements of structural reforms in light source business will be
implemented after next fiscal year onward▲0.5

・Performance improvement of EUV light source
・Next generation roadmap development of cutting-edge package
・Capital investment for Care222 production
Copyright © 2008 Ushio Inc. All rights reserved

17Shareholders Return

Dividend per share and payout ratio
FY2020 annual dividend (plan) will be maintained 26 yen per share in a stable and consistent manner
Devidend (JPY)

56.3

Payment Ratio (%)
47.2
40.1
30.7

33.2

50
30.2

30.3

31.6

35.5

27.8

22

22

22

FY10

FY11

FY12

26

24

26

26

26

FY13

FY14

FY15

FY16

FY17

26

FY18

FY19

26

FY20
予定
Plan

Share Buyback
Ushio purchases own treasury shares, taking flexible approach. We retain our treasury shares of approximately 5% of the total
number of issued shares at maximum and cancel the excess portion of the treasury shares in each year.
Copyright © 2008 Ushio Inc. All rights reserved

18

I.
II.
III
IV.
V.

Update on Impact of the Spread of
the Novel Coronavirus (COVID-19)
Financial Results for 2Q FY2020
Forecast for FY2020
TopicsSupplementary Information

Copyright © 2008 Ushio Inc. All rights reserved

19Care222 for Disinfection and Virus Inactivation Solution■Current progress and business expansion
during medium-term management plan

■Key issues

FY2020

FY2021

FY2022

Base Foundation

Growing/Expanding

Leading to next growth

Build alliance and production
system focusing on space
infrastructure market

Expand global sales inspace infrastructure market-Move into mobility market-Step into medical field・Promotion activities to eliminate resistancetowards to “UV rays” themselves and realize
Care222 is safe and secure under occupied space・Raising awareness of Care222 as a disinfection
and virus inactivation solution
・Accumulate know-how as irradiation processsolution to various scenes

September 2020
Started sales of unit type
December 2020
Establish module type mass-production line
End of December 2020 Start supplying modules
Beginning of 2021
Start sales of products from alliance partners
Gradually proceed business alliance and establish foundation of product development and sales■Care222 Competitive Strength・Unable to inactivate the virus of “space” and “environmental surface” under occupied space
・Exclusive licensee of Columbia University’s patent which is harmless ultraviolet disinfection process to humans (222nm＋specialized filter)
・Production/quality reliability of creating 222nm, eliminating harm wavelength to humans
Copyright © 2008 Ushio Inc. All rights reserved20Care222 for Disinfection and Virus Inactivation Solution

Care222 related announcements after first quarter financial results briefing (after July 31st, 2020)
Christie introduces far-UVC light fixture (Only in North America)
https://www.christiedigital.com/commercial-uv-disinfection/ (released on October 29, 2020）

Study Shows Ushio’s Care222 Lamps Effectively Inactivate SARS-Cov-2
https://www.ushio.co.jp/en/news/1002/2020-2020/500671.html (released on September 5, 2020）

Kobe University-Ushio Inc. Joint Study shows Irradiation of Filtered 222nm UV-C Lighton Human Skin Reduces Bacterial Counts While Causing No Skin Damage
https://www.ushio.co.jp/en/news/1002/2020-2020/500664.html (released on August 13, 2020）

Copyright © 2008 Ushio Inc. All rights reserved

21

I.
II.
III
IV.
V.

Update on Impact of the Spread of
the Novel Coronavirus (COVID-19)
Financial Results for 2Q FY2020
Forecast for FY2020
TopicsSupplementary Information

Copyright © 2008 Ushio Inc. All rights reserved

22

Sales Expansion of Exposure Equipment for Latest IC Package Substrates
Cutting-edge & Next generation
package demand expansion

Large Field Stepper（UX-5） Equipment Package substrate
Sales
Production and sales
manufacturer●World wide share:
Maintain 100％
High-end BGA substrate exposure market(self-survey)

With IoT evolution, demand increased forservers for data centers processing highcapacity and high speed data processing

Chip MountingServer Installed

Data center market>20％ growth per year (self-survey）⇒ Expanding Adoption of
next-generation package substrates

CPU（Server）●UX-5 Strength（Feature）

High
Bandwidth
memory１．Large-area projection→ High productivity & low CoO
Large Field Stepper(UX-5)
Sales Trend

２．Non-contact mask work
→ Yield enhancement

３．Deep focal depth→ Process margin & substrate warping

GPU
（AI）

Net Sales Forecast

FY19 (Result)Contributing to sales from 2H

４．High Resolution/alignment accuracy→ Pitch miniaturization & process margin

After FY20 (Plan)
Sales unit expanding

FY2018 FY2019 FY2020 FY2021 FY2022
ResultResult
Plan
Plan
Plan
Copyright © 2008 Ushio Inc. All rights reserved

23

EUV Light Source for Mask Inspection
EUV light source for nextgeneration semiconductor
mass-production process

Sale
Maintenance

Development, Production, Sales

Mask Inspection equipment
manufacturer/
Research & development
institution

Semiconductor device
manufacturers

Increase EUV light source needs forinspection and development

Next-generation semiconductor
mass-production needs with EUV
lithography technology evolution

Contribution of
Ushio’s EUV light source
Expect to expand business opportunities
of EUV light source for mask inspection●Ushio EUV Light Source
Development History
2000 EUV light source development started
2001 Established EUVA**Extreme Ultraviolet Lithography System Development Association●Ushio Strength●Sales Forecast

Long business experiencein semiconductor industry

2013 Withdrew from Lithography related development＋
2016 Delivered EUV light source to TNO
Many years of experience
2018 Delivered first EUV light source for inspection（for test purpose)in EUV technology
2019 Delivered and received first acceptance(Compact/High-brightness/High Power)
for mass production process

MaintenanceLight source

FY2019ResultFY2020Plan

FY2021Plan

FY2022Plan

Copyright © 2008 Ushio Inc. All rights reserved24

Reference: Summary of Quarterly Financial Results
FY19

FY20

FY20

FY20

2Q - 1Q

3Q

4Q

1Q

2Q

Changes％

38.9 43.0

38.0

38.9

23.6

28.3

▲14.7

▲34.3

4.6

19.6

2.1

2.7

1.4

0.3

▲0.7

▲0.3

▲3.0

－

0.4

56.2

Operating Income
Ratio (%）

5.5

6.3

3.9

0.8

▲3.1

▲1.1

▲7.4P

－

2.0P

－

Ordinary Income

2.9

2.8

2.5

0.3

0.3

0.0

▲2.8

▲97.3

▲0.2

▲76.1

Profit (Loss) Attributableto Owners of Parent

1.2

1.7

5.7

0.1

▲1.0

▲0.9

▲2.6

－

0.1

13.2

10.02

14.43

47.87

1.22

▲8.76

▲7.60

▲22.03

－

+1.16

13.2

USD

111

108

109

109

108

106

▲2

－

▲2

－

EUR

124

120

120

121

118

124

4

－

6

－

Net Sales
Operating Income(Loss)EPS（Yen）

2Q

FY20

2Q - 2Q(billion yen)

1Q

FY19

Changes％

Forex (Yen)

Copyright © 2008 Ushio Inc. All rights reserved25

Reference: Summary of Quarterly Financial Results by Business Segments
FY19(billion yen)

OpticalEquipment
Business

Imaging
Equipment
Business

OthersFY19

FY20

2Q - 2Q

1Q

2Q

3Q

4Q

Total

1Q

2Q

15.4

14.9

14.3

13.7

58.5

10.4

Operating Income

1.9

1.6

1.0

1.3

6.0

Operating Income
Ratio (%)

12.5

11.2

7.3

10.1

Net Sales

8.9

9.1

6.6

Operating Income(Loss)

0.1

0.2

Operating Income
Ratio (%)

1.2

Net Sales

FY20

2Q - 1Q

Changes

％

10.5

▲4.3

▲29.1

0.1

1.4

0.4

0.1

▲1.4

▲88.5

▲0.2

▲59.9

10.3

4.6

1.8

▲9.4P

－

▲2.8P

－

11.4

36.1

7.1

9.2

0.1

1.1

2.0

28.9

▲0.1

▲0.7

▲0.5

0.0

0.0

▲0.1

▲62.2

0.0

6.5

2.4

▲2.0

▲6.8

▲1.6

1.1

0.9

▲1.5P

－

▲0.2P

－

13.7

18.0

16.2

12.7

60.8

5.4

7.9

▲10.0

▲55.8

2.5

47.0

Operating Income(Loss)

▲0.0

0.7

0.5

▲0.3

0.9

▲1.2

▲0.6

▲1.3

－

0.6

50.6

Operating Income
Ratio (%)

▲0.2

4.0

3.4

▲2.7

1.5

▲23.9

▲8.0

▲12.0P

－

15.8P

－

Net Sales

0.7

0.9

0.7

0.9

3.3

0.6

0.5

▲0.4

▲44.4

▲0.1

▲17.0

Operating Income(Loss)

0.0

▲0.0

0.0

▲0.0

0.0

▲0.0

0.0

0.0

－

0.0

－

Operating Income
Ratio (%)

2.5

▲0.0

3.5

▲1.4

0.9

▲3.6

0.1

0.1P

－

3.7P

－

Net Sales

Light
SourceBusiness

FY20

FY20

Changes

Copyright © 2008 Ushio Inc. All rights reserved％26

Reference: Sales Ratio by Region
Others2.8%

FY19_1HNet Sales
82.0
billion yen

FY20_1HNet Sales
52.0 billion
yen

Japan

North America

Asia

Europe

21.5%

20.5%

46.0%

9.2%

Japan

North America

Asia

Europe

29.2%

17.6%

44.0%

8.5%

Others0.7%
Copyright © 2008 Ushio Inc. All rights reserved27

Reference : R&D Expenses/Capital Expenditures and Depreciation
Capital Expenditures (billion yen)
Depreciation (billion yen)

R&D Expenses（billion yen）
Ratio of R&D Expenses to net sales (%)
8.1～8.7

5.7

6.2

6.1

10.2

6.4

8.2

7.9
6.7

6.5

6.7

8.0
7.1

7.0

5.0

9.8

FY16

10.6

FY17

10.1

FY18

10.1

10.0

1H
Result1H
Result

5.0

4.9

FY19

FY20
Plan
計画

FY16

FY17

FY18

1H
Result1H
Result4.4 3.4

4.0 3.4

FY19

FY20
Plan
計画

Copyright © 2008 Ushio Inc. All rights reserved28

Reference: Balance Sheet◆ Liabilities/Total Net Equity (billion yen)

◆Assets (billion yen)

274.6

274.9
60.6

▲12.7 Marketable Securities

27.5

4.2

60.4

8.4

7.7

44.2

44.7

274.6

▲0.2

18.7
28.9
26.4

14.8
38.1
23.9

▲3.9 Notes and AP+10.1 Other Current Liabilities▲2.5 Long-term Liabilities+3.2 Inventories▲0.7 Other Current Assets+0.4 Property, Plant and Equipment

200.7

196.9

2020/32020/9▲3.9 Total Net Equity

Intangible Assets▲1.6 Investments and Other Assets

59.8

58.1

2020/32020/9●Turnover (month)274.9▲0.2 Notes and AR (Trade)

3.9

57.1

▲0.2
+11.3 Cash and Bank Deposits

72.0

40.3

Changes

Changes

2020/32020/9Receivable-trade

3.0

3.9

Inventories

4.5

6.8

●equity Ratio (%)

2020/32020/973.0

71.6

Copyright © 2008 Ushio Inc. All rights reserved29

Reference: Cash Flow(billion yen)
Operating CF + Investing CF＋5.7

Operating CF + Investing CF
▲2.2

74.6

▲2.1

Operating
Activities

▲0.1

▲12.1

Investing
Activities

+7.3

59.0

▲1.2

Financing
Activities

59.0

Effect of
Exchange
rate change

Operating
Activities▲1.6

Investing
Activities▲0.8

Financing
Activities

Effect of
Exchange
rate change

Cash and cash Cash and cash
equivalents at equivalents at
end of period
beginning of
periodCash and cash
equivalents at
beginning of
period

FY19_1H

68.9

+5.0

Cash and cash
equivalents at
end of period

FY20_1H
Copyright © 2008 Ushio Inc. All rights reserved30

GlossaryAI

Artificial Intelligence

BGA

Ball Grid Array

COF

Chip on Film

CoO

Cost of Ownership

CPU

Central Processing Unite

DI

Direct Imaging

EUV

Extreme Ultraviolet Radiation

FPD

Flat Panel Display

GPU

Graphic Processing Unit

IoTInternet of Things

LaPH

Laser Phosphor

OA

Office Automation

OLED

Organic Light Emitting Diode

PCB

Printed-Circuit Board

RGB

Red Green BlueTNOThe Netherlands Organization of Applied Scientific Research

UV

Ultraviolet

5G

5 th Generation Mobile Communication System
Copyright © 2008 Ushio Inc. All rights reserved

31

Contact:
Corporate Planning Department, Ushio Inc.
Email: ir@ushio.co.jp
https://www.ushio.co.jp/en/

Copyright © 2008 Ushio Inc. All rights reserved

32