Financial Announcement - IR Webcasting€¦ · Financial Announcement October 31, 2012 2Q FY2013 Consolidated Financial Summary YoshiteruHarada, Corporate Director, Executive Officer

CORP IR/October 31, 2012

2Q FY2013 (April 1, 2012 – September 30, 2012)

Financial Announcement

October 31, 2012

2Q FY2013 Consolidated Financial Summary

Yoshiteru Harada, Corporate Director, Executive Officer

Revision of FY2013 Financial Estimates and Major Progress in this Fiscal Year

Hiroshi Takenaka, President & CEO

Agenda：


2Q FY2013 Consolidated Financial Summary

October 31, 2012

2Q FY2013: July 1, 2012 - September 30, 2012FY2013 : April 1, 2012 - March 31, 2013

Yoshiteru HaradaCorporate Director, Executive Officer

Corp IR/October 31, 2012

2

Net Sales ¥266.6B - 13.1% on FY12/2H(-18.3% on FY12/1H)

Operating incomeOperating margin

¥12.2B4.6%

- 48.3% on FY12/2H(-66.9% on FY12/1H)

Net income ¥6.0B - 39.5% on FY12/2H(-77.2% on FY12/1H)

Cash and cash equivalents: Cash and deposits + Short-term investments, etc (Securities in B/S).

Results Highlights For the six months ended September 30, 2012


3

FY12 FY13 FY13

1H 2H 1H 1H Forecast (7/30)

Net Sales 326.3 306.7 266.6 268.0SPE 248.3 229.4 214.6 216.0FPD/PVE 36.6 33.2 9.2 9.0EC/CN 41.0 43.8 42.4 43.0Others 0.2 0.2 0.2 -

Gross profit 113.5（34.8%）

97.9（31.9%）

85.6（32.1%）

-

SG&A 76.6 74.3 73.4 -

Operating income

36.8（11.3%）

23.5（7.7%）

12.2（4.6%）

9.5（3.5%）

Net income 26.6 10.0 6.0 6.0

EPS（yen） 148.85 56.20 33.99 33.49

Profit and Loss(Billions of Yen)

1. SPE：Semiconductor Production Equipment, FPD/PVE：Flat Panel Display and Photovoltaic Panel Production Equipment, EC/CN：Electric Components and Computer Networks2. Numbers shown in ( ): Profit ratios3. Profit ratios are calculated using full amounts, before rounding.


4

FY11/2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2QNet Sales 173.5 159.6 190.6 153.1 173.2 129.1 177.5 134.1 132.4Operatingincome 24.0 25.8 29.7 23.0 13.7 6.0 17.4 9.2 2.9Gross profit margin 34.3% 36.8% 35.3% 38.2% 31.8% 32.1% 31.8% 32.9% 31.4%Operatingmargin 13.8% 16.2% 15.6% 15.1% 7.9% 4.7% 9.8% 6.9% 2.2%

132.4

2.92.2%

31.4%

-10%

0%

10%

20%

30%

40%

50%

-50

0

50

100

150

200

250

Net Sales & Operating Margin(Billions of Yen)

Net Sales Operating marginOperating income Gross profit margin


5

76 75 81

11 11 3

13 14 16

0%

100%

1HFY12

2H 1HFY13

SPE

FPD/PVE

EC/CN248.3

229.4214.6

0

100

200

300

1HFY12

2H 1HFY13

36.633.2

9.2

0

20

40

60

1HFY12

2H 1HFY13

41.043.8 42.4

0

20

40

60

1HFY12

2H 1HFY13

SPE Division(Semiconductor Production Equipment)

FPD/PVE Division(FPD/PV Production Equipment)

EC/CN Division(Electronic Components, Computer Networks)

Composition(Billions of Yen)

Net Sales by Division

(Billions of Yen) (Billions of Yen)


6

50.3

32.520.2

0

50

100

1HFY12

2H 1HFY13

53.561.2

55.7

0

50

100

1HFY12

2H 1HFY13

30.9

18.3 23.4

0

50

100

1HFY12

2H 1HFY13

37.8

70.8

38.6

0

50

100

1HFY12

2H 1HFY13

44.1

30.8

58.7

0

50

100

1HFY12

2H 1HFY13

15.89.5 11.8

0

50

100

1HFY12

2H 1HFY13

15.66.0 5.9

0

50

100

1HFY12

2H 1HFY13

20 14 9

22 27 26

13 8 11

15 31 18

18 13

27

6 4 6 6 3 3

0%

50%

100%

1HFY12

2H 1HFY13

SPE Sales by RegionKoreaJapan U.S. Europe

Taiwan China S.E. Asia, Others Region Composition

(Billions of Yen) (Billions of Yen) (Billions of Yen) (Billions of Yen)

(Billions of Yen) (Billions of Yen) (Billions of Yen)OthersChina

Taiwan

Korea

Europe

U.S.

Japan


7

248.3229.4

214.6

50.238.7 30.7

20.2%

16.9%

14.3%

-5%

0%

5%

10%

15%

20%

25%

30%

(50)

0

50

100

150

200

250

300

1HFY12

2H 1HFY13

36.633.2

9.22.9 (0.6) (3.3)

8.0%

-2.0%

-36.5%-50%

-25%

0%

25%

50%

75%

100%

(30)

(15)

0

15

30

45

60

1HFY12

2H1H

FY13

41.7 44.5 42.8

1.2 1.0 0.6

3.0% 2.4% 1.6%

-5%

0%

5%

10%

15%

20%

25%

30%

(10)

0

10

20

30

40

50

60

1HFY12

2H 1HFY13

Segment InformationSPE(Semiconductor Production Equipment)

FPD/PVE(FPD/PV Production Equipment)

EC/CN(Electronic Components and Computer Networks)

（Billions of Yen）（Billions of Yen）（Billions of Yen）

1. R&D expenses such as fundamental research and element research are not included in above reportable segments.2. Segment income is based on income before income taxes. 3. Profit ratios are calculated using full amounts, before rounding.

Sales Segment profit marginSegment income




8

15.8

118.7

0

50

100

150

200

250

FY11/2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q

SPE Orders 150.2 128.6 155.8 112.6 73.5 144.9 106.4 76.0 66.9

FPD/PVE Orders 22.4 15.2 26.3 8.9 1.7 5.0 2.8 2.8 8.0SPE Order backlog 215.5 228.8 228.9 220.7 166.7 220.1 188.6 157.7 118.7FPD/PVE Order backlog 57.8 51.0 65.4 61.8 39.4 27.8 14.2 12.2 15.8

75.0

Orders, Order Backlog

(Billions of Yen)


9

172.7

143.8

182.1

121.6

75.2

150.0

109.3

78.8 75.0

0

50

100

150

200

FY11/2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2QJapan 17.3 22.2 43.9 25.0 16.3 14.9 11.7 10.0 16.3

U.S. 46.6 24.5 25.4 31.1 24.8 29.7 36.8 24.0 18.4

Europe 22.8 14.1 18.6 17.2 3.9 7.6 7.0 6.8 7.7

Korea 24.9 21.0 30.7 21.9 17.9 51.1 25.1 9.7 7.3

Taiwan 34.6 38.2 40.3 13.7 6.6 33.5 21.0 20.0 16.7China, S.E. Asia, Others

26.3 23.5 22.9 12.5 5.4 12.9 7.4 8.1 8.3

Orders by Region: SPE, FPD/PVE

(Billions of Yen)


10

49.7 49.6 66.7

122.8 126.8 127.1 42.8 59.6 37.0

159.1 149.4 132.9

131.2 150.3 94.9

276.6 247.6 286.2

782.4 783.6 745.0

2011/9/30 2012/3/31 2012/9/30

591.2 598.6 595.6

186.0 180.6 146.3

5.1 4.4 3.0

782.4 783.6 745.0

2011/9/30 2012/3/31 2012/9/30

Balance Sheet

Liabilities & Net AssetsAssets(Billions of Yen) (Billions of Yen)

Cash & cash equivalents

Trade notes, Accounts receivables

Inventories

Other current assets

Tangible fixed assets

Debt

Other liabilities

Net assets

Other fixed assets

66.7 billion yen of other fixed assets as of 2012/9/30 includes 15.1 billion yen of goodwill on corporate acquisition, etc. Cash and cash equivalents: Cash and deposits + Short-term investments, etc. (Securities in B/S).


11

91

107 109

96

76 82

74 67 71 72

87

73 60

129 132

121 112

104 104

92 99

86 92

86

86 85

0

25

50

75

100

125

150

0

50

100

150

200

250

300

2QFY10

3Q 4Q 1QFY11

2Q 3Q 4Q 1QFY12

2Q 3Q 4Q 1QFY13

2Q

Inventory Turnover and AR Turnover (Billions of Yen)

(Days)

*Turnover days = Inventory or AR at the end of each quarter / last 12 months sales x 365

Net sales

Inventory turnover

Accounts receivable turnover


12

FY2012 FY2013

1H 2H 1H

Cash flow from operating activities 26.7 3.0 73.9

Cash flow from investing activities -72.4 64.1 -84.2

Payment for corporate acquisition - - -15.8Payment for purchase of property, plant, equipment and others -16.9 -22.3 -12.6

Term deposits over 3 months -55.4 86.4 -55.7

Cash flow from financing activities -16.7 -10.5 -6.4Cash and cash equivalentsat end of term 101.1 158.7 141.6

Cash and deposits at end of term(Short-term investments, etc. included) 276.6 247.6 286.2

Cash Flow(Billions of Yen)


Supplement Data


14

FY2012 FY2013

1Q 2Q 3Q 4Q 1Q 2Q

Net Sales 153.1 173.2 129.1 177.5 134.1 132.4SPE 120.8 127.5 91.5 137.8 108.7 105.9FPD/PVE 12.5 24.1 16.6 16.5 4.7 4.4EC/CN 19.6 21.3 20.8 22.9 20.6 21.8Others 0.0 0.1 0.0 0.1 0.1 0.1

Gross profit 58.4（38.2%）

55.0（31.8%）

41.4（32.1%）

56.4（31.8%）

44.1（32.9%）

41.5（31.4%）

SG&A 35.3 41.3 35.3 38.9 34.8 38.6Operating income

23.0（15.1%）

13.7（7.9%）

6.0（4.7%）

17.4（9.8%）

9.2（6.9%）

2.9（2.2%）

Income before income taxes 23.4 15.8 6.7 14.6 11.2 4.3Net income 16.6 10.0 0.7 9.3 5.7 0.3

EPS（yen） 92.91 55.95 4.21 51.98 31.93 2.07

R&D expenses 18.1 22.9 18.7 21.6 17.9 19.4

Profit and Loss(Billions of Yen)

1. SPE：Semiconductor Production Equipment, FPD/PVE：Flat Panel Display and Photovoltaic Panel Production Equipment, EC/CN：Electric Components and Computer Networks2. Numbers shown in ( ): Profit ratios3. Profit ratios are calculated using full amounts, before rounding.


15

74 71 78 81 80

14 13

9 4 3

12 16 13 15 17

0%

100%

2QFY12

3Q 4Q 1QFY13

2Q

SPE

FPD/PVE

EC/CN

127.5

91.5

137.8

108.7105.9

0

50

100

150

200

2QFY12

3Q 4Q 1QFY13

2Q

24.1

16.6 16.5

4.7 4.4

0

10

20

30

2QFY12

3Q 4Q 1QFY13

2Q

21.3 20.822.9

20.621.8

0

10

20

30

2QFY12

3Q 4Q 1QFY13

2Q

Net Sales by Division

SPE Division(Semiconductor Production Equipment)

FPD/PVE Division(FPD/PV Production Equipment)

EC/CN Division(Electronic Components, Computer Networks)

Composition(Billions of Yen) (Billions of Yen) (Billions of Yen)


16

29.4

16.6 15.810.0 10.1

0

30

60

2QFY12

3Q 4Q 1QFY13

2Q

23.828.6

32.626.6

29.1

0

30

60

2QFY12

3Q 4Q 1QFY13

2Q

16.9

9.5 8.7 10.412.9

0

30

60

2QFY12

3Q 4Q 1QFY13

2Q

20.9 20.6

50.2

24.2

14.4

0

30

60

2QFY12

3Q 4Q 1QFY13

2Q

19.4

9.6

21.1

29.3 29.4

0

30

60

2QFY12

3Q 4Q 1QFY13

2Q

6.6 3.9 5.6 5.6 6.1

0

30

60

2QFY12

3Q 4Q 1QFY13

2Q

10.2

2.5 3.5 2.3 3.5

0

30

60

2QFY12

3Q 4Q 1QFY13

2Q

24 18 12 9 10

19 31 24 25 27

13 10

6 10 12

16 23

36 22 14

15 11 15

27 28

54 4 5 68 3 3 2 3

0%

50%

100%

2QFY12

3Q 4Q 1QFY13

2Q

SPE Sales by RegionKoreaJapan U.S. Europe

Taiwan China S.E. Asia, Others Region Composition

(Billions of Yen) (Billions of Yen) (Billions of Yen) (Billions of Yen)

(Billions of Yen) (Billions of Yen) (Billions of Yen)OthersChina

Taiwan

Korea

Europe

U.S.

Japan


17

127.5

91.5

137.8

108.7105.9

21.913.6

25.116.7 13.9

17.2%14.9%

18.2%15.5%

13.2%

-10%

0%

10%

20%

30%

40%

50%

60%

(30)

0

30

60

90

120

150

180

2QFY12

3Q 4Q 1QFY13

2Q

24.1

16.6 16.5

4.7 4.42.0 0.6 (1.2) (1.6) (1.6)

8.6% 3.7%

-7.7%

-35.3% -37.7%-50%

-25%

0%

25%

50%

75%

100%

-20

-10

0

10

20

30

40

2QFY12

3Q 4Q 1QFY13

2Q

21.7 21.123.4

20.822.0

0.5 0.3 0.6 0.2 0.42.4% 1.9% 2.9% 1.0% 2.2%

-10%

0%

10%

20%

30%

40%

50%

60%

(5)

0

5

10

15

20

25

30

2QFY12

3Q 4Q 1QFY13

2Q

Segment InformationSPE(Semiconductor Production Equipment)

FPD/PVE(FPD/PV Production Equipment)

EC/CN(Electronic Components and Computer Networks)

（Billions of Yen）（Billions of Yen）（Billions of Yen）

1. R&D expenses such as fundamental research and element research are not included in above reportable segments.2. Segment income is based on income before income taxes. 3. Profit ratios are calculated using full amounts, before rounding.





18

591.2 583.1 598.6 596.3 595.6

186.0 178.8 180.6 166.1 146.3

5.1 7.1 4.4 4.53.0

782.4 769.2 783.6 767.0 745.0

2QFY12

3Q 4Q 1QFY13

2Q49.7 47.9 49.6 68.1 66.7

122.8 124.5 126.8 129.3 127.1

42.8 55.5 59.6 49.1 37.0

159.1 163.5 149.4 144.1 132.9

131.2 128.1 150.3 123.594.9

276.6 249.4 247.6 252.6286.2

782.4 769.2 783.6 767.0 745.0

2QFY12

3Q 4Q 1QFY13

2Q

Balance Sheet

Liabilities & Net AssetsAssets(Billions of Yen) (Billions of Yen)

Cash & cash equivalents

Trade notes, Accounts receivables

Inventories

Other current assets

Tangible fixed assets

Debt

Other liabilities

Net assets

Other fixed assets

66.7 billion yen of other fixed assets as of 2QFY13 end includes 15.1 billion yen of goodwill on corporate acquisition, etc. Cash and cash equivalents: Cash and deposits + Short-term investments, etc. (Securities in B/S).


19

FY12 FY13

2Q 3Q 4Q 1Q 2Q

Cash flow from operating activities 8.6 -4.9 7.9 35.8 38.0

Cash flow from investing activities -13.7 53.3 10.8 -46.0 -38.1

Payment for corporate acquisition - - - -15.8 -Payment for purchase of property, plant, equipment and others -12.2 -14.1 -8.1 -9.2 -3.4

Term deposits over 3 months -1.4 67.4 19.0 -21.0 -34.7

Cash flow from financing activities -2.5 -7.7 -2.8 -4.8 -1.5Cash and cash equivalentsat end of term 101.1 141.4 158.7 142.8 141.6

Cash and deposits at end of term(Short-term investments, etc. included) 276.6 249.4 247.6 252.6 286.2

Cash Flow(Billions of Yen)


Revision of FY2013 Financial Estimatesand Major Progress in this Fiscal Year

Hiroshi Takenaka, President & CEO

October 31, 2012


Business Environment


22

Business Environment (As of October 2012)

►SPE CapexPC and smartphone demand is lower than expected due to a slow macroeconomic environment. Demand from foundries is relatively firm, but the wafer fab equipment market is expected to decline by around 20% YoYin CY2012 and full recovery is not expected until spring CY2013 or beyond.

►FPD CapexThe supply/demand balance for large TV panels is improving, but demand for new equipment is not expected to recover until the second half of next year or later. Mid- and small-sized panels are likely to be the main source of equipment demand for the time being.

►PV CapexExcess production capacity for crystalline PV panels is being adjusted, current capex is expected to remain sluggish.


23

Quarterly Orders

0

50

100

150

200

250

300

00/7

-910

-12

01/1

-3 4-6

7-9

10-1

202

/1-3 4-6

7-9

10-1

203

/1-3 4-6

7-9

10-1

204

/1-3 4-6

7-9

10-1

205

/1-3 4-6

7-9

10-1

206

/1-3 4-6

7-9

10-1

207

/1-3 4-6

7-9

10-1

208

/1-3 4-6

7-9

10-1

209

/1-3 4-6

7-9

10-1

210

/1-3 4-6

7-9

10-1

211

/1-3 4-6

7-9

10-1

212

/1-3 4-6

7-9

SPE Order FPD/PVE Order

(Billions of Yen) July-September/2012SPE 66.9（-12%）FPD/PVE 8.0（+186%）

Total: 75.0（-5%）( ): change from April-June/2012% is calculated using full amounts


24

SPE Orders by Application: Equipment only

DRAMFlashLogic foundryLogic & others (MPU, System LSI, Others）

3222 30

3955 55

45 5239

24 3222

51

29 26 24 2739

30 23 23 15 14 6 11 7 14 9

2635

37 21

16 21 33 2736

4212

8

3

10 1911

16

2224

15 18 3224

27 16 18 88

8 6

1112

47 4 6 8

15

15

12

0

9

22 49 3515 23

1828

2625

9 26 30 32 44

34 3722 28 25 17 18 15 17 19

4158

46 5233

16 22 24 2344

31 2737

5847 45 46 39

0%

20%

40%

60%

80%

100%

05/1

0-12

06/1

-3 4-6

7-9

10-1

2

07/1

-3 4-6

7-9

10-1

2

08/1

-3 4-6

7-9

10-1

2

09/1

-3 4-6

7-9

10-1

2

10/1

-3 4-6

7-9

10-1

2

11/1

-3 4-6

7-9

10-1

2

12/1

-3 4-6

7-9


Revision of FY2013 Financial Estimates


26

Revision of FY2013 Financial Estimates

FY2012

FY20131H 2H Full year

YoYchangeActual New

estimatesAdjust-ments

Newestimates

Adjust-ments

Net sales 633.0 266.0 234.4 -27.6 501.0 -29.0 -21%

SPE 477.8 214.6 178.3 -21.7 393.0 -23.0 -18%

FPD/PVE 69.8 9.2 9.7 +0.7 19.0 +1.0 -73%

EC/CN 84.8 42.4 46.0 -7.0 88.5 -7.5 +4%

Others 0.4 0.2 0.2 0.5 +0.5 -Operating incomeLower line：OP margin

60.49.5%

12.24.6%

0.30.1%

-10.2-3.9pts

12.52.5%

-7.5-1.3pts

-47.9-7.0pts

Income before income taxes 60.6 15.5 2.5 -10.5 18.0 -7.5 -42.6

Net income 36.7 6.0 1.0 -7.0 7.0 -7.0 -29.7

Lowered SPE sales forecast due to weak investment

(Billions of Yen)

1. Adjustments: changes from the figures announced on July 30, 20122. NEXX Systems (acquisition completed on May 1) and FSI International (acquisition completed on October 11) financials are

reflected in above estimates .


27

1. Fixed cost reduction: ¥16 billion from last FY» Cost cuts centered on subcontractor, payroll and development

expenses (materials, etc.)

2. Dividend forecast » Annual dividend of ¥51 including the commemorative dividend

3. Two acquisitions completed

Key Items of Financial Revision

Date acquisition announced

Date acquisition completed

Purchase price

Goodwill（Years of amortization）

NEXX Systems March 16, 2012 May 1, 2012 ¥15.8 billion ¥15.3 billion (10 years)*

FSI International August 13, 2012 October 11, 2012 ¥19.9 billion TBD

* Goodwill and years of amortization are provisional figures.


28

設備投資減価償却費

22.7 18.1

14.9

39.1 39.5

22.0 21.4 23.0 20.0 17.7

24.1 26.0

0

20

40

60

80

FY08 FY09 FY10 FY11 FY12 FY13(E)

CAPEXDepreciation

New Miyagi plant

New Miyagi plant TEL Technology Center Tsukuba Kunshan (China) plant TEL Technology Center Korea

66.0 60.9

54.0

70.5

81.5 74.0

0

25

50

75

100

FY08 FY09 FY10 FY11 FY12 FY13(E)

R&D Expenses, CAPEX, Depreciation

R&D Expenses

（Billions of Yen）（Billions of Yen）

R&D Expenses: 79.0B to 74.0B yen (revised)CAPEX: 24.0B to 22.0B yen (revised) Depreciation: 28.0B to 26.0B yen (revised)

Revised Revised


Major Progress in this fiscal year


30

Progress in the SPE Business (areas of enhancement)

► Etching systems Dielectric etch

Maintained high market share in logic BEOL and memory HARC process

Poly etchTEL successfully differentiated itself in the logic FEOL via RLSA etcher －Newly secured six POR* in US and European markets－Also introduced evaluation equipment to Asian customers

Expect to secure several new processes next FY and beyond.

FinFET

Tactras™ RLSA ™ Etch

* POR (Process of Record): Approval to use equipment in customers’ semiconductor manufacturing processes.


31

Progress in the SPE Business (areas of enhancement)

Single wafer cleaning－Confirmed process superiority in BEOL in customer evaluations－Expect to obtain POR for several volume production in the

near future

Dry cleaning －Certas™ maintains high market share

Expect to expand applicable processes going forward throughthe application of new materials

－Completed development of new platform with greatly improved productivity. Preparations in place for 2013 market introduction

Acquisition of FSI International (U.S.)－Enhanced product line-up with FSI SPM* technology and

dry particle removal technology

► Cleaning system

CELLESTA TM

Certas™

SPM (Sulfuric Acid & Hydrogen Peroxide Mixture ) treatment technology: A technique to remove impurities and photoresist by mixing sulfuric acid and hydrogen peroxide and further heating.

ORION™


32

• Acquisition completed on October 11, 2012• Purchase price: ¥19.9 billion

Product line-up enhanced by complementary FSI products

Aims of the FSI acquisition Enhance single wafer cleaning: Acquire next generation technology needs Complementary benefits: Application/customers Expand product line-up

Batch Single wafer ScrubberWET WET DRY WET

EXPEDIUS™ CELLESTA™ ORION™ Certas™ ANTARES™ NS300

High temp SPM Particle removal

Acquired FSI International


33

• Customer evaluation progressed in high-performance ALD equipment (NT333). Obtained POR for use in next generation memory

SPE Business – other highlights► Thermal processing system

• Shipped TSV processing equipment to pilot lines of several customers (Wafer bonder/debonder, Deep Si etch system, Dielectric liner deposition)

• Shipments of bonders for C-MOS sensors are strong

► 3DI

► Technology for the volume production of new memory STT-MRAM (jointly developed with Tohoku University)

• Started development of a range of production equipment for volume production from 2015


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• Strengthened cost competitiveness －Optimized scale by redeploying personnel－Begun operation of Kunshan plant in China

• Began sales of large ICP etchers for high resolution LCD/OLED backplanes

Progress made in the FPD/PV Business

► FPD production equipment

► PV production equipment• Acquiring Oerlikon Solar: Have secured approval under all relevant

countries’ anti-trust laws. In negotiations for final closing of the deal.

Market trends: Volume production of large panels for OLED TVs delayed to 2014TEL status: Started customer evaluation of ink jet system, in addition to evaporation system

OLED production equipment


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1. PC and smartphone demand lower than expected, wafer fab equipment market expected to be down around 20% YoY in CY2012. Financial forecasts revised down as 2nd half SPE sales now expected to decelerate.

2. We will implement annual fixed cost reduction of 16 billion yen in response to this environment change.

3. TEL aims to significantly enhance its technological competitiveness by actively implementing R&D investment and necessary acquisitions.

Summary


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Disclaimer regarding forward-looking statementForecast of TEL’s performance and future prospects and other sort of information published are made based on information available at the time of publication. Actual performance and results may differ significantly from the forecast described here due to changes in various external and internal factors, including the economic situation, semiconductor/FPD/PV market conditions, intensification of sales competition, safety and product quality management, and intellectual property-related risks.

Processing of numbersFor the amount listed, because fractions are rounded down, there may be the cases where the total for certain account titles does not correspond to the sum of the respective figures for account titles. Percentages are calculated using full amounts, before rounding.

Exchange RiskIn principle, export sales of Tokyo Electron’s mainstay semiconductor and FPD/PV cell production equipment are denominated in yen. While some settlements are denominated in dollars, exchange risk is hedged as forward exchange contracts are made individually at the time of booking. Accordingly, the effect of exchange rates on profits is negligible.

FPD/PV: Flat panel display/Photovoltaic


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Documents

Financial Announcement - IR Webcasting€¦ · Financial Announcement October 31, 2012 2Q FY2013 Consolidated Financial Summary YoshiteruHarada, Corporate Director, Executive Officer