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Review of Operations Machine Tools

Demand for machine tools was robust in both Japan and overseas with sales hitting a record high in the fiscal period under review. While there are concerns surrounding the impact of a slowdown in economic conditions, demand is expected on the back of ongoing automation needs in the fiscal year ending December 31, 2019.

MACHINE TOOLS

SALES BY SEGMENT NET SALES OPERATING INCOME & OPERATING INCOME RATIO

Business Environment and Results in the Fiscal Period Ended December 31, 2018

MACHINE TOOLS SEGMENT SALES BY GEOGRAPHICAL REGION

Activities in CNC automatic lathes, a mainstay product in the Machine Tools Segment, remained brisk throughout each region. As a result, sales grew substantially. In the fiscal period under review, sales volumes hit a record high expanding across all destinations. Sales were robust in the U.S. market centered on the medical equipment-related sector. In the European market, sales were especially strong in the automotive-related sector in such major markets as Germany and Italy. Turning to the Asian market, sales were also firm in the automobile, telecommunication, and medicine-related markets in China. On the domestic front, sales were strong across a wide array of sectors including those related to automobiles in Japan. From a product perspective, Star Micronics achieved considerable success through the release of SK-51, a new fixed headstock automatic lathe, as well as SMOOSS-i, a system application that employs IoT technology to monitor machine operations.

As a result, the Star Micronics Group reported sales of ¥49,338 million (US$444,486 thousand) and operating income of ¥9,390 million (US$84,595 thousand) in the Machine Tools Segment*.

Outlook for the Current Fiscal Year and Business Strategies

CNC Swiss Type Automatic Lathes ST-38

Conditions during the current fiscal year are expected to remain shrouded in a cloud of uncertainty impacted by such factors as trade issues between the U.S. and China and problems associated with the United Kingdom’s withdrawal from the European Union. While there are concerns regarding the effects of a slowdown in economic conditions, demand is expected on the back of ongoing automation needs both in Japan and overseas. In the fiscal year ending December 31, 2019, the Star Micronics Group will work to address this demand by strengthening its production capacity. To this end, the Group will undertake a variety of measures including the introduction of new facilities and equipment. In addition, energies will be directed toward sales of fixed headstock automatic lathes.

Looking at operating results for the current fiscal year, demand is projected to remain at a high level. On this basis, sales are forecast to total ¥49,850 million. Operating income is estimated to come in at ¥9,240 million.

* The consolidated fiscal period for the fiscal period ended December 31, 2018 is based on and presented for a 10-month period for the Company and consolidated subsidiaries in Japan and a 12-month period for overseas consolidated subsidiaries. Due to this method of presentation, year-on-year percentage change data is not provided.

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Fixed-Headstock Automatic Lathe SK-51 Newly Unveiled

Star Micronics has newly unveiled its SK-51 fixed-headstock automatic lathe to serve the large diameter machining needs of the automotive, construction and related industries.

Recognizing the upswing in demand for large diameter machining needs that go beyond small diameter CNC Swiss-type automatic lathe processing requirements, an area in which the Company is especially strong, Star Micronics plans to release the SK-51, which boasts a maximum machining diameter of 51 mm. In this instance, the Company will introduce two distinct models. Type A has two turret-type tool posts while type D has a total of three turret-type tool posts. The type D model offers a turret-type tool post with B-axis control to enable even more diverse processes such as slant machining or simultaneous 5-axis processing. Sales are scheduled to commence from October 2019.

Conceptual image of the completed factory building

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