Advantest (ATE) (Tokyo: 6857)
Q1 Net sales increased 15.1% y-o-y to 59.874 billion yen ($512m), operating income increased by 38.8% to 16.338 billion yen ($140m), income before income taxes increased 42.0% to 17.213 billion yen ($147m) and net income jumped 46.8% to 11.479 billion yen ($98.2m). Net income per share basic was 122.92 yen ($1.05) versus 84.61 yen in Q1 last year. Net income per share 'diluted' was 122.04 yen per share versus 84.37 yen last year.
Advantest announced it will split its shares 2:1, effective October 1st. The new total number of shares outstanding will be 199,566,770. Its ADR ratio will be adjusted to 1:1 from 4:1 after the split. For more details see Advantest's announcement here in pdf format.
For access to Advantest's Q1 results, its earnings presentation and its 2006 Annual Report, see Advantest's Investor Relations web site by clicking here.
Kyocera (KYO (Tokyo: 6971)
XFN-Asia newswire reported that Kyocera's breakout Q1 earnings were due to "brisk demand for its digital consumer products" such as ceramic condensers and LCD parts, as related by a Kyocera managing finance officer.
Price declines in its products slowed in the quarter compared to the same period last year and Kyocera was further helped by a weak yen.
Net sales increased 10.4% y-o-y to 292.696 billion yen ($2.5b), operating profit rose 114.5% to 30.642 billion yen ($262m), income before income taxes rose by the same amount to 36.927 billion yen ($316m), and net income surged 133.3% to 20.072 billion yen ($172m). Net income per share 'basic' was 106.82 yen ($0.91) versus 45.89 yen in the same period last year. Net income per share 'diluted' was 106.61 yen versus 45.88 yen.
Kyocera is maintaining its original full-year forecast of a 19% increase in both net profit and operating profit to 83 billion yen ($710m) and 123 billion yen ($1.05b), respectively, and a 4.1% increase in revenue to 1.23 trillion yen ($10.5b).
The XFN-Asia story carried on Forbes.com said, "Kyocera already supplies its organic package parts for Microsoft Corp's (NASDAQ:MSFT) Xbox360 consoles, and it expects to sell key parts for Sony (SNE) Computer Entertainment's PlayStation 3 and Nintendo's (OTCPK:NTDOY) Revolution game machines."
Click here to view Kyocera's consolidated financial results (.pdf).
Nidec Corp (NJ) (Tokyo: 6594)
Nidec reported solid Q1 earnings with sales and operating profit higher y-o-y in all of its business segments. This was the first time it recorded double-digit operating profit margin in Q1. Nidec cites record sales of "small precision motors" as having driven consolidated performance and "mid-size motors" as having moved back in the black. Its "machinery" sales increased by 39% with a 160% increase in operating profit, driven by strong sales of industrial robots.
Net sales increased y-o-y by 19.0% to 145.819 billion yen ($1.25b), operating income increased by 56.6% to 15.034 billion yen ($129m), EBIT increased 17.3% to 14.028 billion yen ($120m), and net income increased 0.6% to 8.849 billion yen ($75.7m). Q1 earnings per share of 61.19 yen ($0.52) is a 0.6% decrease against 61.59 yen per share earned in Q1 last year.
Nidec was hurt by a weaker yen as it suffered a foreign exchange loss of 944 million yen ($8.1m) compared to Q1 in the prior year when it had a gain of 2.224 billion yen ($19m).
Click here to visit Nidec's Investor Relations web site to access its Q1 financial results and its presentation materials.
Sanyo (OTC:SANYY) (Tokyo: 6764)
Sanyo's net loss fell substantially in Q1 to 9.67 billion yen ($82.7m) after a 26.2 billion yen ($224m) loss in Q1 the year prior. However, sales also fell 11% to 504.1 billion yen ($4.3b). Sanyo President Toshimasa Iue said that the drivers of revenues this period and in the future will be rechargeable batteries and solar cells. This was expected given press releases in the first half of the year that announced the firm's heavy investments in the respective areas. Earnings coverage by Bloomberg.com stated that Sanyo has eliminated 14,000 jobs or 15% of its workforce, in addition to selling real estate and assets worth 129 billion yen ($1.1b).
Sanyo is maintaining its full-year forecasts of net income of 20 billion yen ($171m) on sales of 2.4 trillion yen ($20.5b) and operating profit of 65 billion yen ($556m).
Click here for a link to Sanyo's Q1 financial data in .pdf format.
TDK (TDK) (Tokyo: 6762)
TDK posted solid Q1 financial results beginning with sales increasing 21.6% y-o-y to 203.64 billion yen ($1.74b), operating income growing 39.8% to 18.015 billion yen ($154m), and net income increasing 22.1% to 13.276 billion yen ($114m). Net income per share 'basic' was 100.36 yen ($0.86) versus 82.22 in Q1 last year. Net income per share 'diluted' was 100.25 versus 82.18 last year.
Recording media was its only segment that reported a decrease in y-o-y sales, down 2.4% to 23.509 billion yen ($201m).
TDK benefited from a weaker yen which resulted in a positive impact on net sales of approximately 9.5 billion yen ($81m) and of approximately 2.6 billion yen ($22m) for operating income.
TDK is maintaining its original financial projections for the full-year, with net sales at 820 billion yen ($7b), operating income at 82 billion yen ($701m) and net income at 61 billion yen ($522m).
Click here to link to TDK's earnings conference/presentation materials page.
And click here to access TDK's Investor Relations 'Financial Results' page.