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Altech Corporation nd The 2 Foundation Earnings Results for the Six Months period Ending December 31, 2019 Altech Corporation －4641 Tokyo Stock Exchange First Section－ A Group of High-level Engineers Copyright @ 2019 Altech Corporation All Rights Reserved ～INDEX～ 1 Company Profile …P.3〜 2 Results for the 2nd Quarter of the FY2019 …P.4〜 3 The medium-term management plan …P.13〜 4 Sustainability and ESG …P.16〜 Copyright @ 2019 Altech Corporation All Rights Reserved 2 Company Profile －Altech Corporation－ Head Quarters Yokohama-shi, Kanagawa-ken Assignment of Technical Expert Accepting Consignment of Technical Projects Business Activities (Development, Design, Trial Manufacturing, Manufacturing, Evaluation) Establishment July, 1968 Capital Amount 2,347 mn yen Net Sales Consolidated: 32,781 mn yen Non-consolidated: 27,480 mn yen (as of the end of December, 2018) Consolidated: 4,483 Employees Non-consolidated: 3,679 (as of the end of December, 2018) Sales Office (23 offices in Japan), Monozukuri Center, Office Yangon Office Group Company Domestic: ３ Overseas: ２ Clients About 700 companies TSE First Section of the Tokyo Stock Exchange Code No. ４６４１ Share Unit Number １００ stocks Copyright @ 2019 Altech Corporation All Rights Reserved 33 ･Higher R&D investment leads to more output in various fields. ･We continue to pay attention to exchange rates. Manufacturing Business Export Movement In the Automotive Movement ・Weakened ・R&D investment in ・We need to watch next-generation vehicles US-China trade war. is active in the automotive-related field. H&R Business Clientsʼ Needs Win the War for Talent ・Maintaining a ・Various recruiting high mobilization rate. methods ・Stringent Market ・Increasingly competitive environment Copyright @ 2019 Altech Corporation All Rights Reserved 4 ■Results for the 2nd Quarter of the Fiscal Year Ending December 31, 2019 ･[Consolidated] We expect increased net sales in Global Business in the second half of this year. ･[Non-consolidated] The main factor for the increase in net sales was the increase in the number of engineers assigned to the clients and increase in average contract rate. (\mn) 2Q ended 2Q ended 【Consolidated】 YonY Jun.30, 2018 Jun.30, 2019 Net sales 15,728 16,589 5.5% Operating income 1,638 1,644 0.4% Ordinary income 1,661 1,692 1.9% Profit attributable to 1,245 1,206 -3.2% owners of parent 2Q ended 2Q ended 【Non-consolidated】 YonY Jun.30, 2018 Jun.30, 2019 Net sales 13,232 14,314 8.2% Operating income 1,480 1,549 4.7% Ordinary income 1,653 1,679 1.6% Profit 1,295 1,235 -4.6% Copyright @ 2019 Altech Corporation All Rights Reserved 5 Operating margin ratio was 9.9％. （\mn） Main factor in sales 2Q ended 2Q ended 主な要因 YonY and profit 【Consolidated】 Jun.30, 2018 Jun.30, 2019 ①The high mobilization rate was Net sales 15,728 16,589 5.5% maintained. ②The increase number Cost of sales 11,767 12,291 4.5% of engineers ③The increase in average Gross operating income 3,961 4,297 8.5% contract rate SG&A expenses 2,322 2,653 14.2% Main factor in the ○SG&A ratio 14.8% 16.0% 1.2% increase of cost Operating income 1,638 1,644 0.4% ＜Continuously：Altech＞ ○Operating margin ratio 10.4% 9.9% -0.5% ①Expenses increased non-operating income 62 72 15.3% due to the rise in cost non-operating expense 39 23 -39.7% prices to improve Ordinary income 1,661 1,692 1.9% employee benefits. Extraordinary income 200 100 -50.0% ＜Temporary：Group＞ Extraordinary expense -90.9% 17 1 ①Advertising expenses Profit before income taxes 1,844 1,790 -2.9% increased to improve Profit attributable to 1,245 1,206 -3.2% name awareness and owners of parent the corporate image. ○Net profit ratio 7.9% 7.3% -0.6% Copyright @ 2019 Altech Corporation All Rights Reserved 6 The reason for the decrease in the average number of hours is to do to the impact of “the reforms to ways of working”. /The contract unit price rose, and the number of mobilized engineers increased. Number of Engineers Number of Mobilized Engineers ※as the end of Jun, 2019 ※as the end of Jun, 2019 （Person） （Person） ＋314Person ＋266Person （+9.1%) （+8.0%) Contract Unit Price Working Hours ※average of 2Q (Jan-Jun） ※as the end of Jun, 2019 （Hours） （Yen） （H） -4.0H ＋80Yen （△2.4%) （＋2.0%) ※contract unit price・・・hourly rate in the contract base with clients ※working hours ・・・the number of working hours per month, per person Copyright @ 2019 Altech Corporation All Rights Reserved 77 ・The high mobilization rate was maintained. ・We were able to recruit over 300 new graduates. （Person）（単位：人） （単位：％）（％） 稼働人数 技術者数 稼働率 3800 100.0 3600 95.0 3400 90.0 3200 98 person 85.0 3000 58 person 149person 264 person 288 person 229 person 2800 80.0 2600 257 person 242 person 75.0 2400 314 person 70.0 2200 40 person 65.0 2000 169 person 1800 60.0 Copyright @ 2019 Altech Corporation All Rights Reserved 88 ･About 40% is provided by automotive-related, in which R&D investment is active. ･Our customer industries are diverse and structured so that we are not easily affected by economic fluctuations. Percentage of net sales by industry (FY12/19 2Q results) ⑧Aerospace ⑨Renewable ⑩Others defense energy （１０．３％） （２．５％） （０．３％） ①Automotive- ⑦ Software related development （３．３％） （３７．７％） ⑥ Machine tools- related （３．４％） ②Semiconductor- related ⑤Medical- （１７．１％） related （５．８％） ③Precision ④Electricity- machinery-related related （１１．８％） （７．８％） ※For example, even if the technological field is electrical machinery, if the final product is an EV (electric vehicle), it is classified as “automotive-related”. Copyright @ 2019 Altech Corporation All Rights Reserved 99 Requests for engineer assignments from major companies, which are the Groupʼs main customers, are strong. Automotive-related and semiconductor-related demands are steadily growing. Top 10 Clients by Sales FY2017 FY2018 2Q FY2019 Mitsubishi Electric Mitsubishi Electric Mitsubishi Electric Toshiba Memory Corporation Toshiba Memory Corporation Toshiba Memory Corporation Canon Tokyo Electron Technology Solutions Ltd. Tokyo Electron Technology Solutions Ltd. Tokyo Electron Technology Solutions Ltd. AISIN AW CO., LTD. AISIN AW CO., LTD. Sony Semiconductor Solutions Corporation Sony Semiconductor Solutions Corporation Sony Semiconductor Solutions Corporation AISIN AW CO., LTD. Canon Tokyo Electron Miyagi Ltd. Hino Motors, Ltd. Tokyo Electron Miyagi Ltd. Canon Mitsubishi Heavy Industries, Ltd. Autoliv Honda R&D Co., Ltd. Sony LSI Design Incorporated Hino Motors, Ltd. Autoliv DENSO TEN Hitachi Automotive Systems Ltd. DENSO TEN Top 10 total 19.4% Top 10 total 20.0% Top 10 total 19.5% Copyright @ 2019 Altech Corporation All Rights Reserved 1010 ■The medium- to long-term growth vision Strengthening existing business, taking on the challenge of new business New Priority area Promotion of new businesses ①Expansion of the agri‐ State‐of‐the‐art technologies’（※） tech and agriculture (high unit price zone) businesses Development and design work ②Nursing human resources ③M&A ※AI, IoT, robots, etc. Global development Markets ①Overseas business ②Utilize global engineers Benefitting from being the first mover Provision of high‐ ①Training and recruitment of overseas level technologies human resources ② and services Expansion in utilizing overseas Existing human resources for technology, agriculture, and nursing care Existing Business New Copyright @ 2019 Altech Corporation All Rights Reserved 11 ■Results Trends The growth in results is being driven by the active recruitment of new graduates. For FY12/19, the outlook is for 45,000 new record high results 40,000 売上⾼（左軸） 4,500 35,000 営業利益（右軸） 3,500 30,000 TSE 25,000 TSE 1st 2,500 2nd 20,000 Mid‐ 1,500 15,000 OTC term 10,000 plan 500 5,000 rolling 0 ‐500 (¥mn) ①From FY1996 to FY1999…Non-consolidated ②After FY2000…Consolidated Copyright @ 2019 Altech Corporation All Rights Reserved 12 ■The medium-term management plan（Consolidated） The eleventh five‐year plan（for the year2023） The Reinvestment of Management Resources toward the New Industrial Revolution For the three-year quantitative (rolling) targets （¥mn） Our targets 8.0% 41,370 8.0% ・・・Net sales 38,300 4,100 ・・・Operating Income 5.9% 35,470 2.4% 3,870 4,120 ・・・Ordinary Income 3,780 3,960 2.6% 4.0% 3,860 ・・・Profit attributable to owners of parent 2,680 1.9% 2,730 3.3% 2,820 ・・・ROE over 20% over 20% over 20% ROE result FY2018 23.3% FY2019 FY2020 FY2021 （forecast） （plan） （plan） ※We anticipate the contribution to results of the new company, “Agri & Care Corporation”. Copyright @ 2019 Altech Corporation All Rights Reserved 13 ■The medium-term management plan Qualitative targets １ ２ ３ Create Accelerate Optimize sustainable growth and human- competitive strengthen the resources advantages in earnings development the foundation by and the outsourcing increasing organization market investment in response to changes in the business environment Copyright @ 2019 Altech Corporation All Rights Reserved 14 ■Shareholder return policy（FY12/19） 【Basic dividend policy】 ・It aims for a payout ratio on a consolidated basis of 50%, and its basic policy is to pay an annual dividend of ¥10, regardless of results. Results Result FY2018 Forecast FY2019 A period-end dividend (Conversion¥80 to before ① ⇒￥160) ¥116 ¥32 ＋¥12 (Conversion to ¥98 before ②⇒¥35.2) ※＋0.2yen ¥71 Initially High dividend forecast An interim ¥68 dividend Comme- ¥35 ¥10 morative (Before the dividend share split ②) FY2015 FY2016 FY2017 As of 2019/5/14 2018/2/14 Estimated ①・・・It conducted a two-for-one share split on January 1, 2018. ②・・・It conducted a one-for-one point one share split on July 1, 2019. Copyright @ 2019 Altech Corporation All Rights Reserved 15 ■Sustainability･ESG ALPS×SDGs Our efforts for SDGs are posted on the MOFA HP.
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