Meiko Electronics : FY2023 1st Half Presentation

FY2023 Second Quarter Financial Results Briefing

November 16, 2023

（Securities Identification Code: 6787）

Disclaimer

This presentation contains forward-looking statements concerning Meiko Group's future plans, strategies and performance. However, Meiko does not publish this presentation as a disclosure document based on the Financial Instruments and Exchange Act of Japan.

These forward-looking statements are not historical facts, rather they represent assumptions and beliefs based on comprehensive data currently available.

Furthermore, the Printed Circuit Board business is subject to a number of risks and uncertainties that relate to raw material price, conditions of customers' market, technological trends, change of foreign exchange , change of tax rules and regulations, disasters, international conflicts and other factors. Meiko therefore wishes to caution that actual results may differ materially from our expectations.

■FY2023 Key Financials

■Outlook For The Current Term

■Status of New

Businesses

Tendo Factory

Ishinomaki Factory No.2

Vietnam Plant No.3

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FY2023 1st Half Results		(100 million yen)
	FY2022	FY2023	Year-on-Year
	1st Hlf (R)	1st Hlf (R)	Diff.	%
Net Sales	817	862	45	5.5%
Operating	46	42	-4	-8.7%
Income
5.7%	4.9%
Ordinary	87	68	-19	-21.8%
Income
10.7%	7.8%
Net	64	52	-12	-18.8%
Income
7.9%	6.0%
Average FX rate	135.31	142.61
(JPY/USD)
Dividend	27 yen	27 yen
per share

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Net Sales and Operating Income by Product Application

							(100 million yen)
		FY2022 1st Half Results			FY2023 1st Half Resuts
		PCB	EMS/ODM	Total	PCB	EMS/ODM	Total
		Operating	Operating	Operating	Operating	Operating	Operating
		Net Sales Income	Net Sales Income	Net Sales Income	Net Sales Income	Net Sales Income	Net Sales Income
		(%)	(%)	(%)	(%)	(%)	(%)

Automotive	417	28	13	0	430	28	452	28	20	1	472	29
		6.7%		0.0%		6.5%		6.2%		5.0%		6.1%
Smartphones	142	7			142	7	115	4			115	4
Tablets
		4.9%				4.9%		3.5%				3.5%
Package	2	0			2	0	2	-4			2	-4
0.0%			0.0%	-200.0%			-200.0%
SSD	48	7			48	7	36	4			36	4
IoT Module	14.6%			14.6%	11.1%			11.1%
AI Appliances	136	3	59	1	195	4	109	6	128	3	237	9
Industrial Equipment
Amusement
Other Substrates		2.2%		1.7%		2.1%		5.5%		2.3%		3.8%
Total	745	45	72	1	817	46	714	38	148	4	862	42
		6.0%		1.4%		5.7%		5.3%		2.7%		4.9%

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■FY2023 Key Financials

■Outlook For The Current Term

■Status of New

Businesses

Tendo Factory

Ishinomaki Factory No.2

Vietnam Plant No.3

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Full-Year Outlook FY2023 (Consolidated)(100 million yen)

		FY2023		Revision
	2nd Half	Full Year	Previous	Difference	(%)
	Forecast	Forecast	Forecast
Net Sales	868	1,730	1,650	80	4.8%
Operating	58	100	90	10	11.1%
Income	6.7%	5.8%	5.5%	36	45.0%
Ordinary	48	116	80
Income	5.5%	6.7%	4.8%
Net	41	93	62	31	50.0%
Income
4.7%	5.4%	3.8%
Average FX rate	135	138.80	130
(JPY/USD)
Dividend	28 yen	55 yen	50 yen
per share

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Full-Year Outlook FY2023 (Consolidated) (Breakdown by Product Application)

(100 million yen)

FY2023 2st Half (Forecast)

FY2023 Full Year (Forecast)

PCB

EMS/ODM

Total

PCB

EMS/ODM

Total

Operating

Operating

Operating

Operating

Operating

Operating

Net Sales

Income

Net Sales

Income

Net Sales

Income

Net Sales

Income

Net Sales

Income

Net Sales

Income

(%)

(%)

(%)

(%)

(%)

(%)

Automotive	455	35	33	1	488	36		907	63	53	2	960	65
		7.7%		3.0%		7.4%		6.9%		3.8%		6.8%
Smartphones	130	14			130	14		245	18			245	18
Tablets
		10.8%				10.8%		7.3%				7.3%
Package	2	-6			2	-6		4	-10			4	-10
		-300.0%				-300.0%		-250.0%				-250.0%
SSD	51	4			51	4		87	8			87	8
IoT Module	7.8%			7.8%	9.2%			9.2%
AI Appliances	86	6	111	4	197	10		195	12	239	7	434	19
Industrial Equipment
Amusement
Other Substrates		7.0%		3.6%		5.1%		6.2%		2.9%		4.4%
Total	724	53	144	5	868	58	1,438	91	292	9 1,730	100
		7.3%		3.5%		6.7%		6.3%		3.1%		5.8%
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Net Sales by Product Specification

(100 million yen)

■ MLB ■ HDI ■ Flexible ■ High Dissipation ■Package ■ Other Substrates ■ EMS/ODM

FY2023 2nd Hlf

Forecast

FY2023 1st Hlf

Result

FY2022 2nd Hlf

Result

FY2022 1st Hlf

Result

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Half Year Trend of Net Sales/Operating Income/Others (100 million yen)

■ Net Sales ■ Operating Income ―OP Margin

FY2017

FY2017

FY2018

FY2018

FY2019

FY2019

FY2020

FY2020

FY2021

FY2021

FY2022

FY2022

FY2023

FY2023

1st Hlf

2nd Hlf

1st Hlf

2nd Hlf

1st Hlf

2nd Hlf

1st Hlf

2nd Hlf

1st Hlf

2nd Hlf

1st Hlf

2nd Hlf

1st Hlf

2nd Hlf

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

CAPEX

96

150

120

107

144

174

200

EBITDA

DE Ratio

Capital Adequacy

Ratio

133	152	121	141	213	193	206
1.4	1.7	2.0	1.7	1.1	0.9	0.8
30.0%	27.8%	25.1%	28.6%	34.7%	38.2%	41.1%

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