FY2023
Fourth Quarter Financial Results
April. 25, 2024
DISCLAIMER
Statements in this PowerPoint with respect to DISCO's current strategies, plans, estimates, and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of DISCO. These statements are based on management's assumptions and beliefs in light of the information currently available to it and therefore you should not place undue reliance on them. DISCO cautions you that a number of important factors could cause actual results to differ materially from those discussed in the forward-looking statements, and you should not make decision on your investment thoroughly based on these statements. Such factors include, but not limited to, (i) general economic conditions and levels of demand in DISCO's markets; (ii) developments in technology and resulting changes in semiconductor and/or electronic component manufacturing process; (iii) levels of capital investment for manufacturing semiconductors and/or electronic components; (iv) expansions of the area for products and technologies using semiconductors and/or electronic components and its expanding speed; (v) DISCO's ability to continue to offer products and services corresponding to developments of new semiconductors and/or electronic components and new technologies for manufacturing them; (vi) exchange rates, particularly between the yen, the U.S. dollar, and the euro, and other currencies.
©DISCO CORPORATION All rights reserved
FY2023 Highlights
Net sales
307.5 B yen
Previous year : 284.1 B yen
New record
GP margin
67.8 %
Previous year : 64.9%
New record
Operating income
121.4 B yen
Previous year : 110.4 B yen
New record
Operating income
margin
39.5 %
Previous year : 38.9%
New record
CAPEXR&DTotal assets
16.5 B yen | 27.3 B yen | 556.0 B yen | ||
Previous year : 14.9 B yen | Previous year : 22.4 B yen | Previous year : 468.7 B yen | ||
FCF | ROE | EPS | ||
81.1 B yen | 22.4 % | 777.29 yen | ||
Previous year : 68.7 B yen | Previous year : 25.9% | Previous year : 765.47 yen | ||
Ordinary income margin averaged over a four-year period
37.0 %
Previous year : 34.4%
Annual dividend
307 yen
Per share
Previous year : 916 yen
Record high *
*The Company implemented a stock split in the proportion of 1 share into 3 shares effective as of April 1, 2023. Under the assumption that the stock split was implemented at the beginning of the previous fiscal year, the results of the previous year will be 305 yen.
2 | ©DISCO CORPORATION All rights reserved |
FY2023 4Q Earnings Results
Billions of Yen
Net Sales
Gross Profit
Gross Profit Margin
SG&A
Operating Income
Ordinary Income
Ordinary Income Margin
Income before income taxes and minority interests
Net Income
FY2023 4Q 104.3 71.3 68.4% 25.2 46.1 46.7 44.7% 46.5 35.4
FY2023 | QoQ | |
3Q | Amount | (%) |
77.0 | 27.3 | 35.5% |
52.7 | 18.7 | 35.5% |
68.4% | 0.0p | - |
22.3 | 2.9 | 13.0% |
30.4 | 15.8 | 52.0% |
29.4 | 17.2 | 58.5% |
38.2% | 6.5p | - |
21.9 | 24.6 | 112.3% |
16.1 | 19.4 | 120.4% |
FY2022 | YoY | |
4Q | Amount | (%) |
79.0 | 25.3 | 32.0% |
51.2 | 20.1 | 39.2% |
64.8% | 3.6p | - |
19.9 | 5.3 | 26.4% |
31.3 | 14.8 | 47.4% |
32.2 | 14.5 | 45.2% |
40.7% | 4.0p | - |
32.7 | 13.7 | 41.9% |
25.7 | 9.8 | 38.0% |
Sales: Both YoY and QoQ increased due to progress in equipment inspection/acceptance.
GP margin: YoY increased due to high-added value cases, improvement activities, exchange rate, etc.
SG&A: YoY increased mainly due to personnel and R&D expenses.
3 | ©DISCO CORPORATION All rights reserved | ||||
FY2023 Earnings Results
Billions of Yen
Net Sales
Gross Profit
Gross Profit Margin
SG&A
Operating Income
Ordinary Income
Ordinary Income Margin
Income before income taxes and minority interests
Net Income
FY2023 Full Year 307.6 208.6 67.8% 87.2 121.5 122.4 39.8% 114.6 84.2
FY2022 Full Year 284.1 184.5 64.9% 74.1 110.4 112.3 39.5% 112.8 82.9
YoY | |
Amount | (%) |
23.4 8.2%
24.1 13.1%
2.9p -
13.1 17.6%
11.1 10.0%
- 9.0%
0.3p -
- 1.6%
1.3 1.6%
Sales: Inspection/acceptance sales increased supported by a high level of product shipments (record high).
GP margin: Increased mainly due to the effect of the exchange rate.
SG&A: Increased mainly due to personnel and R&D expenses.
4 | ©DISCO CORPORATION All rights reserved | ||||
Quarterly Financial Results
Billions of Yen | Due to the change in accounting policy, the timing of revenue | |||
110.0 | recognition has been changed to Inspection/Acceptance Basis. | 50% | ||
100.0 | |||||||||||||||||||||||||||||||||||||||
90.0 | 40% | ||||||||||||||||||||||||||||||||||||||
80.0 | |||||||||||||||||||||||||||||||||||||||
70.0 | 30% | ||||||||||||||||||||||||||||||||||||||
60.0 | |||||||||||||||||||||||||||||||||||||||
50.0 | |||||||||||||||||||||||||||||||||||||||
40.0 | 20% | ||||||||||||||||||||||||||||||||||||||
30.0 | |||||||||||||||||||||||||||||||||||||||
20.0 | 10% | ||||||||||||||||||||||||||||||||||||||
10.0 | |||||||||||||||||||||||||||||||||||||||
0.0 | 2Q | 1Q | 4Q | 3Q | 2Q | 1Q | 4Q | 3Q | 2Q | 1Q | 4Q | 3Q | 2Q | 0% | |||||||||||||||||||||||||
1Q | 3Q | 4Q | 2Q | 3Q | 1Q | 2Q | 4Q | 1Q | 3Q | 4Q | 2Q | 3Q | 1Q | 2Q | 4Q | 1Q | 3Q | 4Q | 2Q | 3Q | 1Q | 2Q | 4Q | 1Q | 3Q | 4Q | |||||||||||||
FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 |
Net Sales | Operating Income | Ordinary Income Margin | ||
Sales exceeded 100 billion yen for the first time on a quarterly basis
(FY23_4Q Operating income margin 44.2%, Ordinary income margin 44.7%, Net income margin 34.0%)
5 | ©DISCO CORPORATION All rights reserved | ||||
Quarterly Sales Breakdown by Product
110.0 | |||||||||||||||||||
Billions of Yen | |||||||||||||||||||
100.0 | |||||||||||||||||||
90.0 | |||||||||||||||||||
80.0 | |||||||||||||||||||
70.0 | |||||||||||||||||||
60.0 | |||||||||||||||||||
50.0 | |||||||||||||||||||
40.0 | |||||||||||||||||||
30.0 | |||||||||||||||||||
20.0 | |||||||||||||||||||
10.0 | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | ||||
FY19_1Q | FY20_1Q | FY21_1Q | FY22_1Q | FY23_1Q |
Other
Maintenance Parts
Precision Processing Tools (Consumables)
Precision Processing Equipment
Note: Composition percentages are listed as additional information on the DISCO website.
6 | ©DISCO CORPORATION All rights reserved | ||||
Quarterly Sales Breakdown by Region
110.0
100.0
90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
Billions of Yen
FY19 1Q | 2Q | 3Q | 4Q | FY20 1Q | 2Q | 3Q | 4Q | FY21 1Q | 2Q | 3Q | 4Q | FY22 1Q | 2Q | 3Q | 4Q | FY23 1Q | 2Q | 3Q | 4Q |
Asia
Japan
Europe
North America
FY23_4Q Overseas sales ratio: 87.9%
7 | ©DISCO CORPORATION All rights reserved | ||||
Quarterly Shipments
100.0
90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
95.0
Billions of Yen
FY14 1Q | 2Q | 3Q | 4Q | FY15 1Q | 2Q | 3Q | 4Q | FY16 1Q | 2Q | 3Q | 4Q | FY17 1Q | 2Q | 3Q | 4Q | FY18 1Q | 2Q | 3Q | 4Q | FY19 1Q | 2Q | 3Q | 4Q | FY20 1Q | 2Q | 3Q | 4Q | FY21 1Q | 2Q | 3Q | 4Q | FY22 1Q | 2Q | 3Q | 4Q | FY23 1Q | 2Q | 3Q | 4Q |
FY23_4Q Shipment volume: approx. 95.0 billion yen
8 | ©DISCO CORPORATION All rights reserved | ||||
Precision Processing Equipment: Sales by Application
Shipment Basis | Precision Processing Equipment |
FY19 1Q | 2Q | 3Q | 4Q | FY20 1Q | 2Q | 3Q | 4Q | FY21 1Q | 2Q | 3Q | 4Q | FY22 1Q | 2Q | 3Q | 4Q | FY23 1Q | 2Q | 3Q | 4Q |
Non-semiconductors
Wafer manufacturing
Other semiconductors
Optical semiconductors
Package singulation
IC
QoQ: An increase in sales for IC (for generative AI) and power semiconductors (under "Other semiconductors") boosted the whole.
YoY: Increased significantly for IC due to increased demand for generative AI.
9 | ©DISCO CORPORATION All rights reserved | ||||
Dicer: Sales by Application
Shipment Basis | Dicer |
Non-semiconductors
Other semiconductors
Optical semiconductors
Package singulation
IC
FY19 1Q | 2Q | 3Q | 4Q | FY20 1Q | 2Q | 3Q | 4Q | FY21 1Q | 2Q | 3Q | 4Q | FY22 1Q | 2Q | 3Q | 4Q | FY23 1Q | 2Q | 3Q | 4Q |
QoQ: An increase in sales for IC (for generative AI) and power semiconductors (under "Other semiconductors") boosted the whole.
YoY: Increased significantly for IC due to increased demand for generative AI.
10 | ©DISCO CORPORATION All rights reserved | ||||
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Disclaimer
Disco Corporation published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 07:14:14 UTC.