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Financial and Corporate Data (Pdf: 281Kb) 37 NIKON REPORT 2020 BUSINESS CORPORATE FINANCIAL AND BUSINESS STRATEGY SPECIAL FEATURE FINANCIAL STRATEGY SUSTAINABILITY PERFORMANCE GOVERNANCE CORPORATE DATA Organizational Structure (As of July 1, 2020) General Shareholders’ Meeting Audit and Supervisory Committee Board of Directors Nominating Committee Compensation Committee President Executive Committee Internal Audit Department Information Security Department Corporate Strategy Division Finance & Accounting Division Human Resources & Administration Division Legal & Intellectual Property Division IT Solutions Division Research & Development Division Optical Engineering Division Next Generation Project Division Design Center Production Technology Division Imaging Business Unit FPD Lithography Business Unit Semiconductor Lithography Business Unit Healthcare Business Unit Industrial Metrology Business Unit Digital Solutions Business Unit Customized Products Business Unit Glass Business Unit 38 NIKON REPORT 2020 BUSINESS CORPORATE FINANCIAL AND BUSINESS STRATEGY SPECIAL FEATURE FINANCIAL STRATEGY SUSTAINABILITY PERFORMANCE GOVERNANCE CORPORATE DATA Financial Highlights Nikon Corporation and Consolidated Subsidiaries Note: Figures for the fiscal year ended March 31, 2015, and prior are prepared in accordance with Japanese GAAP. Years ended March 31 Figures for the fiscal year ended March 31, 2016, and thereafter are prepared in accordance with IFRS. Growth Potential / Profitability Revenue* Billions of yen 1,200 In the Imaging Products Business, 1,010.4 980.5 although revenue from mirrorless cam- 918.6 887.5 857.7 841.0 eras grew, revenue from the business as 800 749.2 717.0 708.6 a whole decreased due to the rapid market 591.0591.0 shrinkage and delay of new product launches resulting from the impacts of 400 the global COVID-19 pandemic. In the Precision Equipment Business, revenue was down as customers are at their 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 shifting point of investment and installa- Japanese GAAP IFRS tions of certain equipment planned for the * “Net sales” under Japanese GAAP fiscal year ended March 31, 2020, have been suspended until the following fiscal year because of the COVID-19 pandemic in the FPD Lithography Business. Operating Profit / Operating Margin Billions of yen % 100 15 There was a significant decrease in profit 80.0 82.6 caused by the global COVID-19 pandemic 80 12 11.7 along with additional impairment losses 62.9 56.2 of non-current assets in the Imaging 60 54.0 51.0 9 8.7 43.4 Products Business and Industrial 40 35.2 7.8 6 Metrology Business, recognized after 6.1 6.4 5.0 5.1 careful review of cash flow projections 20 4.2 6.76.7 3 reflecting the significant deterioration of 0.70.7 0.1 1.1 the business environment. However, the 0 0 20112012 2013 2014 2015 2016 2017 2018 2019 2020 Group was able to cut business costs by Japanese GAAP IFRS approximately ¥25.0 billion year on year Operating profit (left scale) Operating margin (%) (right scale) mainly due to progress in the restructur- ing measures announced for the Imaging Products Business in November 2019. Profit Attributable to Owners of the Parent* / ROE Billions of yen % 80 20 Profit attributable to owners of the 66.5 parent decreased by ¥58.9 billion year 59.3 60 15 on year, to ¥7.6 billion, in the fiscal 46.8 year ended March 31, 2020. Accordingly, 14.4 42.4 40 34.7 10 ROE was down by 9.9 percentage points 27.3 29.9 11.2 9.2 9.0 to 1.3%. 7.2 18.3 20 6.3 5 5.5 7.67.6 3.93.9 3.3 0.7 1.3 0 0 20112012 2013 2014 2015 2016 2017 2018 2019 2020 Japanese GAAP IFRS Profit attributable to owners of the parent (left scale) ROE (%) (right scale) * “Net income (loss) attributable to owners of the parent” under Japanese GAAP Cash Flows Billions of yen 150 123.6 125.0 During the fiscal year ended March 31, 114.1 107.5 100.0 97.3 2020, net cash provided by operating 100 90.2 70.9 71.3 68.9 activities was ¥16.4 billion while net cash 56.6 51.8 46.3 43.5 used in investing activities was ¥21.2 50 15.0 24.3 16.4 billion. Free cash flow came to a negative 0 ¥4.8 billion following lower profits, a (13.2) decrease in advances received in the (23.5) (24.9) (25.3) (4.8)(4.8) –50 (34.0) (34.8) (21.2) (49.1) (43.1) (40.6) Precision Equipment Business, and (65.1) (83.1) changes of payment terms for the –100 20112012 2013 2014 2015 2016 2017 2018 2019 2020 domestic partner companies. Japanese GAAP IFRS Net cash provided by operating activities Net cash used in investing activities Free cash flow 39 NIKON REPORT 2020 BUSINESS CORPORATE FINANCIAL AND BUSINESS STRATEGY SPECIAL FEATURE FINANCIAL STRATEGY SUSTAINABILITY PERFORMANCE GOVERNANCE CORPORATE DATA Financial Highlights Efficiency Inventories / Inventory Turnover Period Billions of yen Months 300 269.4 7.5 The balance of inventories as of March 263.0 263.7 253.3 236.4 244.9 239.9 235.5 246.5 31, 2020, was ¥246.5 billion, a decrease 220.3220.3 of ¥6.8 billion from the end of the previ- 200 5.0 ous fiscal year, and the inventory turn- 5.0 over period was 5.0 months. Emphasizing 3.8 3.8 3.8 4.1 the efficiency of invested capital, the 3.3 3.4 100 3.0 3.2 3.1 2.5 Group continues to manage inventory assets in an appropriate manner. 0 0 20112012 2013 2014 2015 2016 2017 2018 2019 2020 Japanese GAAP IFRS Inventories (left scale) Inventory turnover period (months) (right scale) Safety Interest-Bearing Debt / D/E Ratio Billions of yen Times 150 141.4141.4 139.1 0.60 Interest-bearing debt as of March 31, 127.1 128.3 128.9 2020, was ¥139.1 billion. This amount 115.4 112.6 included an increase of approximately 100 87.4 86.3 85.3 0.40 ¥17.0 billion in lease liability following the application of IFRS 16 as of April 1, 2019. The Group is committed to maintaining 0.26 50 0.23 0.20 0.22 0.20 0.20 0.21 0.22 0.21 0.26 sound financial conditions in funding. 0.17 0 0 20112012 2013 2014 2015 2016 2017 2018 2019 2020 Japanese GAAP IFRS Interest-bearing debt (left scale) D/E ratio (times) (right scale) Growth Investments R&D Expenditures*1 / Ratio of R&D Expenditures to Revenue*2 Billions of yen % 90 15 R&D expenditures in the fiscal year 76.4 74.5 ended March 31, 2020, totaled ¥62.2 68.7 66.7 66.7 60.7 63.663.6 60.7 63.9 62.2 billion, a decrease of ¥1.7 billion year on 60 10 year, and the ratio of R&D expenditures 10.5 to revenue rose by 1.5 percentage points, 8.5 8.5 9.0 7.5 7.6 7.6 7.8 7.9 6.8 to 10.5%. While pursuing overall optimi- 30 5 zation, the Group will continue to invest in establishing foundations for medium- to long-term growth in new and existing 0 0 20112012 2013 2014 2015 2016 2017 2018 2019 2020 businesses. Japanese GAAP IFRS R&D expenditures (left scale) Ratio of R&D expenditures to revenue (%) (right scale) *1 “R&D costs” under Japanese GAAP *2 “Ratio of R&D costs to net sales” under Japanese GAAP Shareholder Returns Cash Dividends per Share / Dividend Payout Ratio Yen % 90 210 Approximately 29.2 million shares of 159.8159.8 200.7 treasury stock were acquired in the fiscal 60 year ended March 31, 2020, for a total of 60 140 ¥40.0 billion, of which approximately 22.5 million shares were retired. In light of the 38 36 40 31 32 32 highly volatile business environment, the 30 70 Company continued to adhere to its policy 19 69.1 18 16 of targeting a total return ratio of 40% or 41.0 27.6 25.4 29.0 27.1 23.8 35.7 more but deviated from its target for 0 0 20112012 2013 2014 2015 2016 2017 2018 2019 2020 full-year dividend payments of ¥60 per Japanese GAAP IFRS share due to maintain growth investment Cash dividends per share (left scale) Dividend payout ratio (%) (right scale) capacity and crisis response capabilities. For more detailed information on Nikon’s financial information and performance, please refer to the following webpage: https://www.nikon.com/about/ir/ 40 NIKON REPORT 2020 BUSINESS CORPORATE FINANCIAL AND BUSINESS STRATEGY SPECIAL FEATURE FINANCIAL STRATEGY SUSTAINABILITY PERFORMANCE GOVERNANCE CORPORATE DATA Non-Financial Highlights / ESG External Ratings Non-Financial Highlights Nikon Corporation and Consolidated Subsidiaries Years ended March 31 Ratio of Female Employees*1 Sales Trends of Refurbished Semiconductor Lithography Systems % Units Units 80 40 400 348 358 66.6 65.5 391 402 61.2 60.8 59.0 371 60 30 300 21 20 (60.0%) (48.8%) 40 20 13 200 11 10 (43.3%) 24.4 16.8 (29.4%) ％ 20 15.9 15.5 13.5 13.3 10 100 13.5 10.6 11.0 11.5 13.2 0 0 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Group companies outside Japan Group companies in Japan Nikon Corporation Units sold (left scale) Cumulative total (right scale) Figures in parentheses ( ) represent the portion of total sales volume. *1 Figures represent numbers of permanent employees and non-regular staff of the Nikon Group (consolidated).
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