FACT BOOK 2018

Proceeds from subsidy income 133,640 1,980 - Income taxes paid (982,972) (383,523) (511,760) Net cash provided by (used in) operating activities 3,128...

0 downloads 58 Views 851KB Size
FACT BOOK 2018 For the year ended March 31, 2018 Contents 1. Financial Highlights 2. Operation Review 3. Consolidated Financial Statements Consolidated Statements of Income Consolidated Statements of Comprehensive Income Consolidated Balance Sheets Consolidated Statements of Cash Flows Statement of Changes in Equity

4. History 5. Corporate Data, Stock Inforamation

UMC Electronics Co., Ltd

1

Financial Highlights UMC Electronics Co., Ltd. and Consolidated Subsidiaries

(Thousands of yen)

2016/3

2017/3

2018/3

110,051,722

111,915,564

125,676,610

23,534,951

24,382,510

26,073,505

Gross profit

6,057,910

7,077,026

7,315,595

Selling, general and administrative expenses

3,719,794

4,203,955

4,772,315

Operating income

2,338,115

2,873,071

2,543,280

Profit attributable to owners of parent

1,814,492

1,306,148

1,518,026

For the year: Net sales (Plant output)

Capital investment

3,008,584

4,634,069

5,835,445

Depreciation

2,308,787

2,227,204

2,525,000

Free cash flow

1,389,376

(2,178,145)

(6,013,896)

56,723,386

60,627,720

65,923,781

At year-end: Total assets Total shareholders' equity

15,448,199

16,394,673

17,578,593

Total net assets

15,963,716

16,636,752

18,208,139

Per share (yen): Profit per share

139.30

81.16

94.30

Net assets per share

991.70

1,033.76

1,126.15

Cash dividends per share

22.30

22.30

30.00

Dividend payout ratio

16.00

27.50

31.80

Ratios (%): Operating profit/sales ROE ROA

2.1

2.6

2.0

13.3

8.0

8.7

3.3

2.2

2.4

28.1

27.4

27.5

At year-end

112.69

112.20

106.27

Average for the year

120.14

108.42

110.86

8,356,140

8,356,140

16,743,080

8,811

10,862

10,495

11

11

12

Shareholders' Equity Ratio Exchange rates into U.S. currency:

Number of shares issued: Number of employees (at year-end): Number of subsidiaries (at year-end): Notes: (1) Plant output = Net sales - Parts cost (Indicators in UMC Electronics) (2) Dividend payout ratio = Cash dividend per share ÷ Basic earnings per share × 100 (3) ROE = Profit attributable to owners of parent ÷ Average shareholders' equity × 100 (4) ROA= Profit attributable to owners of parent ÷ Average total assets × 100

(5) Per share data are retroactively adjusted for a stock split at a ratio of 1:2 of common stock on June 1, 2017.

2

Operation Review (1) Net Sales by Product Category (Thousands of yen)

2016/3

2017/3

2018/3

EMS business Automotive equipment

36,223,739

43,947,239

52,538,022

32.9%

39.3%

41.8%

21.3%

19.5%

24,120,807

26,922,589

31,002,869

21.9%

24.1%

24.7%

11.6%

15.2%

Share YoY Industrial equipment Share YoY Office automation equipment

24,221,847

21,490,450

25,726,112

Share

22.0%

19.2%

20.5%

-11.3%

19.7%

12,564,935

8,364,055

6,889,164

11.4%

7.5%

5.5%

-33.4%

-17.6%

9,193,641

6,894,136

4,534,770

8.4%

6.2%

3.6%

-25.0%

-34.2%

3,305,376

3,797,099

4,575,782

3.0%

3.4%

3.6%

14.9%

20.5%

421,374

499,994

409,888

0.4%

0.4%

0.3%

18.7%

-18.0%

110,051,722

111,915,564

125,676,610

-3.1%

1.7%

12.3%

YoY Consumer equipment Share YoY Information equipment Share YoY Other EMS Share YoY Other business Share YoY Total YoY Notes:

UMC Electronics reviews the criteria for each product category frequently for the purposes of its own accounts.

(2) Net Sales by Region (Thousands of yen)

2016/3

2017/3

2018/3

China

63,548,277

57,296,557

63,287,305

Vietnam

19,513,561

25,255,218

33,027,042

Japan

21,327,369

23,229,629

22,317,646

Thai

9,128,362

8,843,528

9,830,048

26,371

55,107

43,110

(3,492,218)

(2,764,476)

(2,828,542)

110,051,722

111,915,564

125,676,610

Other Eliminations and adjustments Total

3

English Translation The following is an English translation of the original Japanese document.

Consolidated Financial Statements UMC Electronics Co., Ltd. and Consolidated Subsidiaries

Consolidated Balance Sheets (Thousands of yen) 2016/3 Assets Current assets Cash and deposits Notes and accounts receivable-trade Finished goods Work in process Raw materials and supplies Income taxes receivable Deferred tax assets Other Total current assets Noncurrent assets Property, plant and equipment Buildings and structures Accumulated depreciation Buildings and structures, net Machinery, equipment and vehicles Accumulated depreciation Machinery, equipment and vehicles, net Tools, furniture and fixtures Accumulated depreciation Tools, furniture and fixtures, net Land Leased assets Accumulated depreciation Leased assets, net Construction in progress Total property, plant and equipment Intangible assets Software Software in progress Goodwill Other Total intangible assets Investments and other assets Investment securities Shares of subsidiaries and associates Long-term prepaid expenses Long-term time deposits Deferred tax assets Other Total Investments and other assets Total noncurrent assets Total assets

2017/3

13,074,194 17,274,633 1,537,126 553,402 8,272,835 64,420 44,312 1,107,020 41,927,944

9,880,829 18,765,190 2,183,259 392,253 10,224,891 2,722 63,086 1,626,955 43,139,186

6,093,104 21,289,774 1,666,147 490,708 13,730,762 - 48,944 1,720,493 45,039,935

9,303,507 (4,123,362) 5,180,145 16,413,477 (11,630,005) 4,783,471 2,559,698 (1,564,385) 995,312 1,189,774 1,269,678 (312,299) 957,379 47,487 13,153,570

9,239,625 (4,472,162) 4,767,463 16,407,114 (10,703,008) 5,704,105 2,598,008 (1,579,692) 1,018,315 1,368,898 1,380,275 (459,343) 920,931 1,039,598 14,819,313

9,790,367 (4,731,872) 5,058,495 18,334,186 (11,435,157) 6,899,028 3,881,084 (2,414,174) 1,466,909 1,556,764 1,492,120 (610,122) 881,997 2,774,952 18,638,147

373,556 186,862 - 100 560,519

413,346 206,964 - 100 620,410

445,641 5,963 40,969 100 492,674 238,780 - 532,468 200,000 119,832 58,114 1,149,196 14,795,441 56,723,386

4

2018/3

1,113,534 53,407 678,280 200,000 2,475 61,002 2,108,701 17,488,534 60,627,720

1,164,104 - 238,331 - 170,002 52,850 1,625,288 20,883,846 65,923,781

(Thousands of yen) 2016/3 Liabilities Current liabilities Notes and accounts payable - trade Short-term loans payable Current portion of long-term loans payable Current portion of bonds Lease obligations Income taxes payable Accounts payable - other Accrued expenses Provision for bonuses Other Total current liabilities Noncurrent liabilities Bonds payable Long-term loans payable Lease obligations Liabilities for retirement benefits Deferred tax liabilities Other Total noncurrent liabilities Total liabilities Net assets Shareholders' equity Capital stock Capital surplus Retained earnings Treasury stock Total shareholders' equity Accumulated comprehensive income Valuation difference on available-for-sale securities Deferred gains or losses on hedges Foreign currency translation adjustment Total accumulated comprehensive income Non-controlling interests Share acquisition rights Total net assets Total liabilities and net assets

2017/3

16,583,893 3,789,110 5,547,406 184,000 188,837 594,574 664,336 823,300 178,341 126,413 28,680,213

19,336,652 5,401,540 5,115,844 184,000 171,320 751,400 1,087,925 968,986 190,142 115,521 33,323,335

20,786,842 6,652,786 5,438,076 80,000 290,987 935,226 1,146,744 1,101,655 200,903 92,553 36,725,776

264,000 10,654,367 902,880 2,022 235,685 20,500 12,079,456 40,759,669

80,000 9,424,398 780,282 3,854 365,520 13,577 10,667,633 43,990,968

- 10,036,814 585,805 6,735 339,783 20,726 10,989,865 47,715,642

1,334,000 5,513,746 8,744,610 (144,158) 15,448,199

1,334,000 5,513,881 9,690,950 (144,158) 16,394,673

1,345,935 5,525,816 10,851,086 (144,244) 17,578,593

(41,753) (12,381) 565,654 511,518 3,998 - 15,963,716 56,723,386

5

2018/3

133,991 (7,533) 115,619 242,078 - - 16,636,752 60,627,720

164,272 (4,340) 419,739 579,671 - 49,875 18,208,139 65,923,781

English Translation The following is an English translation of the original Japanese document.

Consolidated Financial Statements UMC Electronics Co., Ltd. and Consolidated Subsidiaries

Consolidated Statements of Income (Thousands of yen) 2016/3

2017/3

110,051,722 103,993,811 6,057,910 3,719,794 2,338,115

Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Non-operating income Interest income Dividends income Insurance return Other Total non-operating income Non-operating expenses Interest expenses Share of loss of entities accounted for using equity method Foreign exchange losses Going public expenses Other Total non-operating expenses Ordinary income Extraordinary income Gain on sales of non-current assets Gain on sales of investment securities Gain on sales of shares of subsidiaries and associates Subsidy income Gain on change in equity Total extraordinary income Extraordinary losses Loss on sales of property, plant and equipment Loss on retirement of non-current assets Impairment loss Gain on reversal of loss on valuation of investment securities

11,341 35,705 112,727 42,779 202,553

6

111,915,564 104,838,538 7,077,026 4,203,955 2,873,071

125,676,610 118,361,014 7,315,595 4,772,315 2,543,280

11,635 42,377 - 40,530 94,543

12,149 32,034 - 49,052 93,236

375,338 - 26,762 28,071 4,879 435,051 2,105,617

375,861 4,743 407,816 - 18,701 807,123 2,160,490

464,140 5,571 50,476 - 40,679 560,868 2,075,649

29,426 190,354 - 133,640 - 353,422

187 44,998 75,114 - 19,423 139,724

3,108 69,651 - - - 72,759

- 4,183 18 -

- 19 - 538

6,097 6,738 - -

- 4,201 2,454,838 616,005 28,929 644,934 1,809,903 (4,589) 1,814,492

Business structure improvement expenses Total extraordinary loss Profit before income taxes Income taxes-current Income taxes-deferred Total income taxes Profit for the year Profit attributable to non-controlling interests Profit attributable to owners of parent

2018/3

322,692 323,249 1,976,965 499,375 157,861 657,236 1,319,729 13,580 1,306,148

- 12,835 2,135,573 806,508 (188,961) 617,547 1,518,026 - 1,518,026

Consolidated Financial Statements

English Translation The following is an English translation of the original Japanese document.

UMC Electronics Co., Ltd. and Consolidated Subsidiaries

Consolidated Statements of Comprehensive Income (Thousands of yen) 2016/3 Profit for the year Other comprehensive income Valuation difference on available-for-sale securities Deferred gains or losses on hedges Foreign currency translation adjustment Total other comprehensive income Comprehensive income (Content) Comprehensive income for the parent company's shareholders

2017/3

1,809,903

1,319,729

1,518,026

(311,855) (437) (1,359,137) (1,671,430) 138,473

175,745 4,848 (450,034) (269,440) 1,050,288

30,280 3,192 304,120 337,593 1,855,619

1,036,708

1,855,619

143,062

Comprehensive income attributable to noncontrolling interests

(4,589)

7

2018/3

13,580



English Translation The following is an English translation of the original Japanese document. 

Consolidated Financial Statements UMC Electronics Co., Ltd. and Consolidated Subsidiaries

Consolidated Statements of Cash Flows (Thousands of yen) 2016/3 Net cash provided by (used in) operating activities Profit before income taxes Depreciation and amortization Impairment loss Amortization of goodwill Increase (decrease) in provision for bonuses Interest and dividends income Interest expenses Share of (profit) loss of entities accounted for using equity method Foreign exchange losses (gains) Loss (gain) on sales of investment securities Loss (gain) on sales of shares of subsidiaries and associates Loss (gain) on valuation of investment securities Loss (gain) on sales of property, plant and equipment Loss on retirement of property, plant and equipment Share-based compensation expenses Gain on maturity of insurance contract Subsidy income Loss (gain) on change in equity Decrease (increase) in notes and accounts receivable-trade Decrease (increase) in inventories Increase (decrease) in notes and accounts payable-trade Increase (decrease) in accounts payable-other Other Subtotal Interest and dividends income received Interest expenses paid Proceeds from subsidy income Income taxes paid Net cash provided by (used in) operating activities Net cash provided by (used in) investment activities Payments into time deposits Purchase of property, plant and equipment Proceeds from sales of property, plant and equipment Purchase of intangible assets Purchase of investment securities Proceeds from sales of investment securities Proceeds from purchase of shares of subsidiaries resulting in change in scope of consolidation Purchase of investoments in subsidiaries resulting in change in scope of consolidation

2017/3

2,454,838 2,308,787 18 8,186 (19,050) (47,046) 375,338 - (132,664) (190,354) - - (29,426) 4,183 - (112,727) (133,640) - (346,593) (540,152) 905,882 151,596 (340,133) 4,317,040 47,046 (386,143) 133,640 (982,972) 3,128,611

1,976,965 2,227,204 - 7,229 15,718 (54,012) 375,861 4,743 (92,448) (44,998) (75,114) 538 (187) 19 - - (1,980) (19,423) (2,065,403) (2,560,772) 3,180,488 227,654 (350,192) 2,751,891 54,012 (366,405) 1,980 (383,523) 2,057,954

2,135,573 2,525,000 - - 10,825 (44,184) 464,140 5,571 513,077 (69,651) - - 2,989 6,738 49,875 - - - (2,452,966) (3,298,875) 1,374,514 (315,968) (101,322) 805,338 44,184 (470,117) - (511,760) (132,356)

(100,000) (2,581,081) 223,955 (61,701) (50,728) 874,750 2,579

- (3,444,029) 187 (243,092) (689,896) 106,308 -

- (5,835,976) 20,567 (185,077) (3,231) 110,880 -

(251,623)







Proceeds from sales of shares of subsidiaries resulting in change in scope of consolidation

2018/3

39,020



Proceeds from cancellation of insurance funds Other Net cash provided by (used in) investment activities Net cash provided by (used in) financing activities Net increase (decrease) in short-term loans payable Proceeds from long-term loans payable Repayment of long-term loans payable Redemption of bonds Proceeds from sales of treasury shares Purchase of treasury shares Repayments of lease obligations Proceeds from share issuance to non-controlling shareholders Cash dividends paid Proceeds from issuance of shares resulting from exercise of share acquisition rights

202,515 2,098 (1,739,235)

- (4,598) (4,236,099)

- 11,296 (5,881,540)

1,298,359 5,253,490 (6,666,625) (184,000) 4,524,465 - (197,276) - (96,505) -

1,531,212 4,282,976 (5,888,202) (184,000) - - (148,923) 1,000 (358,882) -

1,390,780 7,331,064 (5,940,046) (184,000) - (86) (188,987) - (358,882) 23,870

Net cash provided by (used in) financing activities Effect of exchange rate change on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period

3,931,907 (437,119) 4,884,164 7,990,030 12,874,194

(764,819) (250,399) (3,193,364) 12,874,194 9,680,829

2,073,711 (47,540) (3,987,725) 9,680,829 5,693,104

8

History 1968 Established in Kawasaki as Uchiyama Seisakusho Co. Ltd. 1976 Green System Co. established 1992 Ageo factory built Omiya head office built 1994 Head office factory built 1997 ISO 9002 certification acquired 1998 Green System Co. Kitakami Development Center new building built 2000 UMC Electronics Hong Kong Ltd. Established UMC Electronics China, Shenzhen Works built ISO 9001 certification acquired (Japan) 2001 ISO 9001 certification acquired (China) 2002 ISO 14001 certification acquired (Japan, China) OHSAS18001 certification acquired (China) 2003 QS9000 certification acquired (China) 2004 UMC Electronics (Shenzhen) Ltd. established UMC Just in Staff Co., Ltd. Established UMC Electronics China, Dongguan Works built UMC Electronics (Dongguan) Ltd. Established 2005 ISO/TS 16949 certification acquired (China) Miyazaki factory new premises built Logistics Center built in Ageo district 2006 UMC Electronics China, Dongguan Works moved to new Dongguan factory ISO/TS 16949 certification acquired (Japan) UMC Electronics Vietnam Limited established 2007 Vietnam factory started operations Sales and Procurement Dpartment, VCM Sales Department (Nagoya) established 2008 Sales and Procurement Dpartment, Spiral Up EMS Sales Department (Miyazaki) established ISO9001, ISO 14001 certification acquired (Vietnam) 2009 Sales and Procurement Dpartment, VAS Sales Department (Osaka) established 2010 Global Compact Japan Network joined UMC Electronics and Green System head offices moved to Ageo 2011 UMC Electronics (Thailand) Limited established 2013 Thailand factory started operations UMC Electronics Europe GmbH established (sales base for Germany/Europe) 2014 ISO 9001,ISO 14001 certification acquired (Thailand) 2015 UMC acquired UMC Dongguan Plastics Co., Ltd. 2016 UMC listed on the First Section of Tokyo Stock Exchange UMC Electronics Mexico, S.A. de C.V. established Merger and acquisition of Green System Co. UMC Electronics Manufacturing (Dongguan) Co., Ltd. Established ISO/TS 16949 certification acquired (Vietnam) ISO/TS 16949 certification acquired (Thailand) Sales and Procurement Dpartment, CRM Sales Department (Shizuoka) established 2017 Wuhan Sales Department established Chicago Sales Department established 2018 50th Anniversary Basic agreement with Hitachi, Ltd. on collaboration for strengthening manufacturing First public offering after IPO (Amount Raised: Approximately 8.3 billion yen)

9

Corporate Data, Stock Inforamation (As of March 31, 2018)

Corporate Data Corporate name

UMC Electronics Co., Ltd

Main Business

EMS (Electric Manufacturing Service)

Established

January 5, 1968

Capital

\1,345 million

Stock Exchange Listing

Tokyo Stock Exchange, First Section (Securities code: 6615)

President

Shigeki Uchiyama

Employees (As of March 31, 2018)

10,495 (consolidated)

Head office

721 Kawarabuki, Ageo-shi, Saitama 362-0022, Japan

Telephone

+81-048-724-0001

Share Data

Shareholders by Category

Authorized Shares

54,000,000

Issued and outstanding

16,743,080

Shareholders (including holders of fractional shares)

Number of Percentage of Total Shares Shares Held Issued (%)

1,891

Major Shareholders (Listing 10 by Shareholding)

Individual

1,168,325

6.98

Financial institutions

4,263,400

25.46

Other companies

9,565,640

57.13

Foreign investors

1,033,499

6.17

93,469

0.56

618,927

3.70

Number of Shares Held (Thousand)

Percentage of Total Shares Issued (%)

S Uchiyama Holdings, Ltd.

3,635

22.55

Tokyo Century Corporatain

1,721

10.68

H Uchiyama Holdings, Ltd.

1,512

9.38

O Uchiyama Holdings, Ltd. The Master Trust Bank of Japan ,Ltd. (Trustee Account) TOYOTA INDUSTRIES CORPORATION

1,283

7.96

949

5.89

676

4.19

NOK Corporation Japan Trustee Services Bank, Ltd. (Trustee Account) The Nomura Trust and Banking Co, Ltd. (Trust Account) The Shoko Chukin Bank, Ltd

640

3.97

548

3.40

Securities companies

457

2.84

Treasury stock

447

2.77

Name of Shareholders

Securities companies Treasury stock Note: Including holders of fractional shares

Individual Financial institutions Other companies Foreign investors

Note: Percentage is calculated excluding treasury stock (618,927 shares).

Stock Price Trend

10