Fuji : Second Quarter 2024 Financial Result Explanatory Materials (November 2, 2023)

Premier Market of the Nagoya Stock Exchange

Prime Market of the Tokyo Stock Exchange

Securities Code: 6134

Second Quarter for Fiscal Year Ending March 2024

Financial Results Explanatory Materials

November 2023

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Any redistribution or reproduction of part or all of this content without the expressed permission of FUJI CORPORATION is strictly prohibited.

Contents

1. Financial Summary

2. Financial Forecast for FY2024

Copyright © 2023 by FUJI CORPORATION. All rights reserved.

2

1. Financial Summary

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3

Q2 FY2024 Results

• Sales and profits declined due to weak global demand for capital investment.

					(Millions of yen)
	First half of		First half of	Compared to the
		same period last year
	FY2023		FY2024
	results		results	Amount	Ratio
Orders	87,722		56,067	▲31,655	▲36.1％
Net sales	78,670		62,557	▲16,112	▲20.5％
Operating	13,803		6,638	▲7,164	▲51.9％
profit
Ordinary	15,992		7,815	▲8,177	▲51.1％
profit
Profit	11,180		5,243	▲5,937	▲53.1％
attributable to
owners of parent

160,000

120,000

80,000

40,000

0

160,000

120,000

80,000

40,000

0

163,473	Orders
47,345	142,429
27,800
36,663	26,906	56,067
33,644	45,310
28,437
45,819	42,411
27,630
FY2022	FY2023	FY2024

	Net sales
148,128	153,326
38,773	37,865
36,796	36,791	62,557
33,796	39,436
29,503
38,761	39,233	33,054
FY2022	FY2023	FY2024

Q4

Q3

Q2

Q1

Q4

Q3

Q2

Q1

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4

Operating Income Increase/Decrease Analysis

• Profit decreased by 7,164 million yen due to the significant impact of continued high material costs and decreased sales volume, despite improvements in sales prices resulting from customer mix management.

Decrease in gross profit	SG&A expenses increase
▲7,308	+144

(Millions of yen)

Net sales	Net sales
78,670	62,557
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Balance Sheet Summary

					(Millions of yen)
		As of March 31, 2023	As of September 30, 2023	Comparison	Increase/decrease factors
	Current assets	176,750	169,181	▲7,569
	Cash and deposits	59,784	57,684	▲2,100
	Notes and accounts receivable - trade	42,089	38,725	▲3,364	Due to collection of receivables and decrease of net sales
	Inventories	61,846	63,874	+2,028
	Consumption taxes refund receivable	7,429	2,907	▲4,522
	Non-current assets	77,416	84,831	＋7,414
	Property, plant and equipment	28,271	32,682	+4,411	Construction in progress ＋3,606
	Intangible assets	24,269	23,522	▲747
	Goodwill	10,570	10,017	▲553
	Investments and other assets	24,875	28,625	+3,750	Investment securities ＋4,137
Total assets	254,167	254,012	▲155
	Current liabilities	27,569	25,117	▲2,451
	Notes and accounts payable - trade	9,084	6,462	▲2,621	Decrease of orders for materials
	Income taxes payable	3,825	2,111	▲1,714
	Non-current liabilities	1,493	1,930	+437	Deferred tax liabilities ＋407
	Net assets	225,104	226,964	+1,859
	Shareholders' equity	209,873	205,783	▲4,090	Share repurchase ▲5,485
	Accumulated other comprehensive income	15,114	21,058	+5,943	Currency translation adjustment for yen devaluation ＋3,864
Total liabilities and net assets	254,167	254,012	▲155
Equity ratio	88.5％	89.3％	-
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Robotic Solutions Division

Day-to-day electronic products including cars, home electronics, and communication devices. An essential part of manufacturing these items is SMT pick and place machines that place electronic components on printed circuit boards.

DB Series

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7

Robotic Solutions Division Results

• A global slump in demand for electronics has led to soft capital investment, mainly in China and other Asian countries.

				(Millions of yen)
	First half of	First half of	Compared to the
	same period last year	160,000
	FY2023	FY2024				120,000
	results	results	Amount	Ratio		80,000
						40,000
Orders	79,743	49,807	▲29,936	▲37.5％	0
Net sales	71,508	56,516	▲14,992	▲21.0％	160,000
Operating	15,885	9,103	▲6,782	▲42.7％	120,000
80,000
profit
						40,000
Order
65,533	38,418	▲27,114	▲41.4％	0
backlogs

Copyright © 2023 by FUJI CORPORATION. All rights reserved.

	Orders
149,860	127,708
43,475
24,967
33,540	22,997	49,807
29,796	41,558
24,278
43,048	38,185
25,528
FY2022	FY2023	FY2024

Net sales

136,863	139,879
35,613	34,458
33,357	33,912	56,516
31,006	35,334
26,041
36,885	36,174
30,474
FY2022	FY2023	FY2024

Q4

Q3

Q2

Q1

Q4

Q3

Q2

Q1

8

Robotic Solutions Division Net Sales by Region

• Europe and Japan: Secured demand for a certain amount of volume
• China and Rest of Asia: Noticeably sluggish demand

(Billions of yen)
40.0
	36.2	35.3		34.5
	2%	2%	33.9
	2%
	12%	2%	30.5
	8%
30.0	6%	6%	14%	16%	3%
26.0
	15%	9%	7%	8%	17%
		1%
		9%		4%
			20%	19%
		27%
20.0			12%		4%
	31%		28%		22%	11%
				25%
					26%
10.0
	43%	33%		34%
	31%		20%	31%
0.0	3%	5%	7%	9%	8%	8%

Q1 FY2023 Q2 FY2023 Q3 FY2023 Q4 FY2023 Q1 FY2024 Q2 FY2024

(Billions of yen) 80.0

	71.5	68.4
	2%
	2%
	10%	56.5
60.0	6%	15%
2%
	12%	7%
	18%
		15%
		4%
40.0	29%
26%	12%
		24%
20.0
37%	27%	32%
0.0	4%	8%	8%

H1 FY2023 H2 FY2023 H1 FY2024

Other

Europe

North America

(excl. U.S.)

U.S.

Rest of Asia

China

Japan

Half period

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9

Robotic Solutions Division Net Sales by Sector

• There is a lull in capital demand for telecommunication, computer, and server sectors.

• Semiconductor sector sales remained weak.

(Billions of yen)
40.0
36.2	35.3		34.5
				33.9
	16%	16%		30.5
30.0		24%
			24%	24%	26.0
	25%	21%		10%
				15%
				15%
					14%
20.0			15%			23%
21%	20%	27%	16%
	8%
						4%
	7%	7%	8%	5%		28%
	11%
10.0		4%	7%	7%	11%
	2%		3%
	7%	10%	5%	5%	7%
	5%		14%
		10%
	15%	16%	5%	22%	2%	5%
	11%	13%
0.0						10%

(Billions of yen) 80.0

71.5 68.4

	16%		56.5
60.0		24%
22%	19%
	13%
40.0	18%	23%	18%
	7%	6%	22%
	6%	4%
20.0	9%
7%
12%
	8%	5%
	2%6%
		8%
0.0	16%	12%	17%

Other

Semiconductor

Automotive

Consumer electronics

Industrial machines

Server

Computer

Telecommunications

Q1 FY2023 Q2 FY2023 Q3 FY2023 Q4 FY2023 Q1 FY2024 Q2 FY2024

H1 FY2023

H2 FY2023

H1 FY2024

Half period

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