Slides
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May 13, 2025 FY2024 Financial Results
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Contents 1. FY2024 Financial Results and FY2025 Forecast 2. By Segment 3. Shareholder Return
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2 1. FY2024 Financial Results and FY2025 Forecast
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Summary of FY2024 Financial Results 3 ■ Net sales and profits at each stage significantly exceeded the previous year and achieved to record highs. Record ordinary profit for the third consecutive fiscal year and net profit for the fourth consecutive fiscal year. And, net sales and operating profit exceeded the figure that shown on 2025 Mid-term Management Plan’s final year. ■ In Telecommunication Systems, demand for data centers continued to grow on the back of the spread and expansion of generated AI and the impact of foreign exchange rates bring operating profit 2.4 times higher than the previous year. ■ In Electronics, increase of demand of HDDs for data centers, a better product mix by selectively ordering high profit products and the impact of foreign exchange rates bring operating profit 1.4 times higher than the previous year. ■ In Automotive Products, improvement of productivity and passing increased cost due to fluctuations of order to customers improved significant increase of operating profit compared to the previous year. ■ In Power Systems, continued demand for redevelopment projects and new plant construction in Japan bring operating profit 1.4 times higher than the previous year.
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FY2024 Financial Results （Unit：Yen in billion） FY2025 Change (％) 2025 mid- term plan Net sales 799.8 979.4 179.6 122% 830.0 940.0 825.0 Operating Profit 69.5 135.5 66.0 195% 70.0 124.0 85.0 Ratio of Operating Profit to Net Sales(%) 8.7 13.8 5.1 － 8.4 13.2 10.3 Ordinary Profit 69.7 137.2 67.5 197% 68.0 122.0 Profit Attributable to Owners of Parent 51.0 91.1 40.1 179% 50.0 74.0 Net Profit per Share (JPY) 184.96 330.32 145.36 － 181.29 268.26 Dividend per Share （JPY) 55.0 100.0 45.0 － 55.0 80.0 64.0 ROE（％） 16.7 24.4 7.7 － 14.0 19.8 16.5 Exchange Rate (USD/JPY) 144.59 152.62 8.03 － 145.00 150.73 120.00 CU Base ('000JPY/ton) 1,262 1,478 216 － 1,200 1,440 FY2023 vs. FY2024 FY2024 Revised Plan 2025.02.10 FY2023 Results FY2024 Results FY2024 Original Plan 2024.05.13
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Net Sales 5 FY2024 Contributing Factors to Net Sales Change (year-on-year basis) (Unit : Yen in billion) +179.6 higher than FY2023 FY2023 FY2024 Actual Value Effects of Forex Effect of Copper Prices +41.4 +12.3 +125.9 799.8 979.4 Actual value Telecommunication Systems 130.0 Electronics 10.8 Automotive Products ▲ 9.4 Power Systems ▲ 6.2 Others 0.7 Total 125.9 Net sales increased due to demand for data centers continued to grow on the back of the spread and expansion of generated AI in Telecommunication Systems.
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Operating Profit 6 FY2024 Contributing Factors to Operating Profit Change (year-on-year basis) +66.0 higher than FY2023 (Unit : Yen in billion) Market Environment Factors etc. +9.7 Actual Factors +56.3 Fixed Cost fluctuation Price Pass- throughCost ReductionLogistics expenses fluctuation Rising raw material prices Increase in marginal profit due to increase in sales Effect of Impairment Effect of Copper PricesEffects of Forex FY2024FY2023 +8.5 +0.0 +1.2 +46.4 ▲2.6 ▲1.4 +2.5 +7.3 ▲15.6 Profitability Improvement +19.7 135.5 69.5 Actual value Telecommunication Systems 46.7 Electronics 3.2 Automotive Products 4.3 Power Systems 3.2 Others ▲ 1.1 Total 56.3 Operating profit increased due to continue expansion market for data centers in Telecommunication Systems, and other businesses continue to be strong.
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7 FY2024 Extraordinary Income and Losses Sales of cross shareholding etc. (FUJIKURA COMPOSITES, excluded from scope of equity method etc.) Impairment losses by fix assets of FPC business Litigation settlement about special electronic cables 7.3 4.8 (Unit: Yen in billion) FY2023 FY2024 Operating Profit 69.5 135.5 Share of Profit of Entities Accounted for using equity method 2.7 5.7 Ordinary Profit 69.7 137.2 Extraordinary Income 0.7 3.0 Extraordinary Losses 6.2 18.9 Profit before Income Taxes 64.2 121.4 Total Income Taxes 11.1 26.9 Profit Attributable to Non-Controlling Interests 2.1 3.3 Profit Attributable to Owners of Parent 51.0 91.1
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Consolidated B/S (1) 8 Foreign currency translation ▲0.1 Actual increase +15.8 CAPEX +30.7 Lease +3.2 Depreciation ▲22.9 Impairment losses ▲7.9 Retirement and sales etc. ▲2.1 Foreign currency translation +2.5 (Unit: Yen in billion) As of March 31, 2024 As of March 31, 2025 Change 〈Assets〉 723.9 830.3 106.4 Current Assets 467.3 561.3 94.0 Cash and Deposits 147.8 185.0 37.2 Inventories 131.5 147.2 15.7 Non-current Assets 256.6 269.0 12.4 Tangible Fixed Assets 165.7 171.4 5.7 Intangible Fixed Assets 20.4 18.3 ▲ 2.1 Sub Total 186.1 189.6 3.5 投資その他の資産Investments and Other Assets 70.5 79.3 8.9 Notes and Accounts Receivable and Contract Assets 164.2 203.5 39.3
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9 Consolidated B/S (2) Cash and Deposits exceeded Interest-bearing Debt brings “Net Cash” (▲29.8→37.9 improved : +67.7) (Unit: Yen in billion) As of March 31, 2024 As of March 31, 2025 Change Total 723.9 830.3 106.4 （内数 自己株式）(Treasury Share) (▲ 10.5) (▲ 10.4) 0.1 〈Liability〉 357.3 395.0 37.7 Notes and Account Payable 78.0 104.9 26.8 Interest-bearing Debt 177.6 147.1 ▲ 30.4 Other Liability 101.7 143.0 41.3 〈Net Assets〉 366.6 435.3 68.7 Shareholder's Equity 270.5 339.8 69.2 （Treasury Share） (▲ 10.5) (▲ 10.4) 0.1 Accumulated Other Comprehensive Income 70.6 67.7 ▲ 2.8 Non-controlling Interests 25.5 27.8 2.3 Equity-to-assets-ratio (%) 47.1 49.1 2.0 Foreign currency translation adjustment ▲4.4
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10 Free Cash Flow / Net Debt & Net Cash 115.9 94.4 #### 73.0 ▲21.5 Free CF Free CF CF from Operating Activities CF from Investing Activities CF from Operating Activities CF from Investing Activities Free Cash Flow ▲20.9 95.0 FY2023 FY2024 Strong business performance and improvement of capital efficiency improved CF creativity and Cash and Deposits exceeded Interest-bearing Debt brings “Net Cash” (Unit: Yen in billion) (Unit: Yen in billion) Payment for purchase of assets ▲20.8 Payment for purchase of assets ▲29.1 Free CF +22.0 higher than FY2023 Interest-bearing Debt / Net Debt & Net Cash As of March 31,2024 As of March 31,2025 147.8 Cash and Deposits Net Debt ▲29.8 37.9 185.0 Cash and Deposits 177.6 Interest- bearing Debt Net Cash 147.1 Interest- bearing Debt
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Summary of FY2025 Business Forecast 11 ■To compare to FY2024, net sales and operating profit will decrease due to effect of foreign exchange rates and US tariff policies, but if exclude those factors, net sales and operating profit will increase. ■In Telecommunication Systems, net sales and operating profit will increase due to continue increasing demand for data centers. ■In Electronics, net sales and operating profit will decrease due to effect of foreign exchange rates and concern of supply management in downstream. ■In Automotive Products, net sales and operating profit will decrease due to delivery volume will decrease because of effect of ordered program entering transitional term. ■In Power Systems, net sales decrease due to change of product mix and reaction to previous year’s high demand, but business continue to be strong.
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Summary of FY2025 - Forecast (Unit : Yen in billion) Change 2025 mid-term plan Net sales 979.4 481.0 957.0 ▲ 22.4 98% Operating Profit 135.5 58.0 122.0 ▲ 13.5 90% Ratio of Operating Profit to Net Sales(%) 13.8 12.1 12.7 ▲ 1.1 － Share of Profit to Entities Accounted for using equity method 5.7 3.6 7.3 1.6 127% Ordinary Profit 137.2 59.0 126.0 ▲ 11.2 92% Profit Attributable to Owners of Parent 91.1 42.0 90.0 ▲ 1.1 99% Net Profit per Share (JPY) 330.32 152.23 326.21 ▲ 4.11 － Dividend per Share (JPY) 100.0 65.0 130.0 30.0 － ROE (%) 24.4 － 20.7 ▲ 3.6 － 152.62 140.00 140.00 ▲ 12.62 － 1,478 1,300 1,300 ▲ 178 － Change (%) FY2024 vs. FY2025 CU Base ('000JPY/ton) FY2024 Results 1H FY2025 Forecast FY2025 Forecast Exchange Rate (USD/JPY)
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2. By Segment 13
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Financial Results and Forecast by Segment 14 （Unit: Yen in billion） 39.2 92.2 46.2 95.2 13.2% 20.4% 18.9% 20.2% 16.6 22.9 5.5 10.8 10.1% 12.3% 7.0% 6.5% 1.2 5.8 1.8 4.9 0.7% 3.3% 2.2% 3.1% 8.7 11.9 3.7 9.2 6.3% 8.2% 5.5% 6.6% 4.9 4.9 2.3 4.7 46.1% 44.9% 42.7% 43.1% Other 8.7 9.1 5.0 11.0 ▲ 1.1 ▲ 2.2 ▲ 1.6 ▲ 2.7 69.5 135.5 58.0 122.0 8.7% 13.8% 12.1% 12.7% Net Sales Operating Profit (Loss) and Ratio of Operating Profit to Net Sales Segment 297.2 451.3 243.8 470.9 1H FY2025 Forecast FY2025 Forecast 1H FY2025 Forecast FY2025 Forecast Telecommunication Systems FY2023 Results FY2024 Results FY2023 Results FY2024 Results 10.8 5.5 10.9 164.7 185.9 78.3 166.2 179.5 177.1 81.4 160.0 145.2 66.9 137.9 Total 799.8 979.4 481.0 957.0 Electronics Automotive Products Power Systems Real Estate 139.1 10.5
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Telecommunication Systems In FY2024, net sales and operating profit increased due to continue the demand for data centers to grow on the back of the spread and expansion of generated AI. In FY2025, net sales and operating profit will increase due to continue increasing demand for data centers. Financial Results and Forecast by Segment - Sales and Ratio of Operating Profit 15 （Unit: Yen in billion） Electronics In FY2024, net sales and operating profit increased due to increase of demand of HDDs for data centers, a better product mix by selectively ordering high profit products. In FY2025, net sales and operating profit will decrease due to effect of foreign exchange rates and concern of supply management in downstream. Full Year Sales Ratio of Operating Profit Full Year
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Automotive Products In FY2024, improvement of productivity and passing increased cost due to fluctuations of order to customers improved significant increase of operating profit compared to the previous year. In FY2025, net sales and operating profit will decrease due to delivery volume will decrease because of effect of ordered program entering transitional term. Financial Results and Forecast by Segment - Sales and Ratio of Operating Profit 16 （Unit: Yen in billion） Power Systems In FY2024, net sales and operating profit increased due to continue demand for redevelopment projects and new plant construction in Japan. In FY2025, net sales decrease due to change of product mix and reaction to previous year’s high demand, but business continue to be strong.
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(参考値） 17 （Unit: Yen in billion） Real Estate Revenues from leasing real estate properties continue to contribute to consolidated operating profit. Financial Results and Forecast by Segment - Sales and Ratio of Operating Profit
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3. Shareholder Return 18
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Shareholder Return Shareholder Return Policy FY2024 Year-end dividends forecast FY2025 dividends forecast 19 The dividends payout ratio is set at 30%, and based on the results for FY2024, the dividends will be increased by 20.0 yen/share from the previous forecast to 66.5 yen/share. As a result, the annual dividends for FY2024 will be 100.0 yen/share. ＊ FY2023 Annual Dividends 55.0 yen/share (interim : 22.5 yen/share, year-end : 32.5 yen/share） The dividends payout ratio will be set at 40%, and based on FY2025 forecast, the dividends will be 130.0 yen/share (interim : 65.0 yen/share, year-end : 65.0 yen/share). ＊2025 Mid-term Management Plan(FY2025) Dividends : 64.0 yen/share 2025 Mid-term Management Plan secured the dividends payout ratio at 30%. Since the results for FY2024 exceeded net sales and operating profit targets set for the final year of the 2025 Mid-term Management Plan, and the cumulative cash flow for the three-year period is expected to significantly exceed that of the 2025 Mid-term Management Plan, the dividends payout ratio for FY2025 will be set at 40%.
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Appendix 20
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Net Sales by Segment Unit: Yen in Billion FY2025 Forecast 1Q 2Q 3Q 4Q 1H 2H Full Year 1Q 2Q 3Q 4Q 1H 2H Full Year 1H 2H Full Year Telecommunication Systems 69.7 77.5 72.3 77.8 147.1 150.1 297.2 90.9 94.9 122.3 143.2 185.7 265.5 451.3 243.8 227.0 470.9 FPC 20.4 21.6 24.7 19.0 42.0 43.7 85.7 18.8 27.7 33.2 23.8 46.5 57.0 103.5 39.4 44.6 84.0 Connector 10.4 13.3 12.1 8.5 23.6 20.7 44.3 9.5 13.3 11.5 9.2 22.9 20.8 43.7 20.3 22.1 42.5 Components 8.7 8.8 8.7 8.5 17.4 17.3 34.7 9.1 9.9 9.6 10.2 19.0 19.8 38.8 18.6 21.2 39.8 39.4 43.6 45.6 36.1 83.0 81.6 164.7 37.4 50.9 54.4 43.2 88.3 97.6 185.9 78.3 87.9 166.2 44.4 42.9 46.4 45.8 87.4 92.2 179.5 48.3 43.6 42.9 42.2 91.9 85.1 177.1 81.4 78.7 160.0 Power Systems 32.1 33.3 37.9 35.7 65.4 73.7 139.1 36.8 34.8 38.9 34.6 71.7 73.5 145.2 66.9 71.0 137.9 2.6 2.6 2.6 2.6 5.3 5.3 10.5 2.7 2.7 2.7 2.7 5.4 5.4 10.8 5.5 5.4 10.9 2.0 1.7 2.2 2.8 3.7 5.0 8.7 2.2 2.2 2.3 2.4 4.4 4.7 9.1 5.0 6.0 11.0 190.2 201.7 207.1 200.8 391.9 407.8 799.8 218.3 229.2 263.4 268.4 447.5 531.8 979.4 481.0 476.0 957.0 Other FY2023 Electronics Automotive Products Real Estate FY2024 Total 21
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Operating Profit by Segment Unit: Yen in Billion FY2025 Forecast 1Q 2Q 3Q 4Q 1H 2H Full Year 1Q 2Q 3Q 4Q 1H 2H Full Year 1H 2H Full Year Telecommunication Systems 9.9 10.5 9.2 9.7 20.4 18.8 39.2 15.1 18.8 27.1 31.1 34.0 58.2 92.2 46.2 49.0 95.2 2.1 5.0 6.2 3.3 7.1 9.5 16.6 3.5 7.6 8.3 3.5 11.1 11.8 22.9 5.5 5.3 10.8 △ 1.3 △ 0.1 1.5 1.0 △ 1.4 2.6 1.2 2.0 1.6 1.7 0.4 3.6 2.2 5.8 1.8 3.1 4.9 Power Systems 1.2 2.0 2.5 3.1 3.2 5.5 8.7 3.0 1.9 3.2 3.8 4.9 7.0 11.9 3.7 5.5 9.2 1.2 1.2 1.2 1.2 2.5 2.4 4.9 1.3 1.3 1.2 1.1 2.6 2.3 4.9 2.3 2.4 4.7 △ 0.5 △ 0.4 0.1 △ 0.2 △ 0.9 △ 0.1 △ 1.1 △ 0.6 △ 0.5 △ 0.4 △ 0.7 △ 1.1 △ 1.1 △ 2.2 △ 1.6 △ 1.1 △ 2.7 12.6 18.2 20.7 18.0 30.8 38.7 69.5 24.5 30.7 41.1 39.2 55.1 80.4 135.5 58.0 64.0 122.0 FY2024 Other Total FY2023 Electronics Automotive Products Real Estate 22
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Special Notes: Statements in this presentation that relate to future to results and events (including statements regarding Fujikura's revenue and earnings guidance) and based on Fujikura's current expectations. Actual results in future periods may differ materially form those currently expected because of a number of risks and uncertainties.