Consolidated Financial Results (Figures rounded down nearest mill

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November 2005
Consolidated Financial Results
(Figures rounded down nearest million yen. fraction less than unit rounded off.) Year ending Mar. 2006 First months Actual Year ended Mar. 2005 First months Acutal Amount Percentage
Increase/decrease from six-month period ended Sept. 2004
Year ended Mar. 2005 Annual Actual
Year ending Mar. 2006 Annual Projected
Increase/decrease from year ended Mar. 2005
sales Cost sales Selling, general administrative expenses Operating income
(Operating income margin)
Millions Millions Millions Millions
193,033 121,445 37,221 34,366 (17.8%)
200,411 111,942 34,453 54,015 (27.0%) 58,695 (29.3%) 36,733 (18.3%) 309.25
-7,378 +9,503 +2,768 -19,649 (-9.2%) -18,234 (-8.3%) -12,495 (-5.7%) -100.34
-3.7% +8.5% +8.0% -36.4%
369,023 221,132 71,836 76,054 (20.6%)
382,000 242,400 74,600 65,000 (17.0%) 72,000 (18.8%) 44,000 (11.5%) 379.44
+3.5%
-14.5%
Ordinary income
(Ordinary income margin)
Millions
40,461 (21.0%)
-31.1%
79,320 (21.5%)
-9.2%
income
(Net income margin)
Millions
24,238 (12.6%)
-34.0%
45,135 (12.2%)
-2.5%
Basic income share Return equity Ordinary income total assets
208.91
-32.4%
380.22
Total assets Shareholders' equity Shareholders' equity ratio Shareholders' equity share
Millions Millions
892,459 756,465 84.8 6,527.65
903,696 757,090 83.8 6,373.91
-11,237 -625 +1.0 +153.74
-1.2% -0.1%
867,322 739,329 85.2
+2.4%
6,326.64
Capital expenditures Depreciation (Tangible fixed assets) Research development costs financial revenue
(Interest dividend income)
Millions Millions Millions
31,256 24,920 16,135
35,568 21,031 15,370
-4,312 +3,889 +765
-12.1% +18.5% +5.0%
85,171 47,102 32,342
87,000 55,000 33,000
+2.1% +16.8% +2.0%
(Millions yen) Millions
(2,689) (gain)3,405
(1,362) (gain)3,237
(+1,327) (gain)168
(+97.5%)
(3,318) (gain)
(Second half year)
Foreign currency exchange gains/losses
Foreign exchange rate (Average yendollar rate) Number employees
(Number employees)
Yen/US$
109.40 20,597 (2,345)
109.19 20,254 (2,193) (13) (34)
+0.21 +343 (+152) (-3)
+0.2% +1.7% (+6.9%)
107.28 19,803 (2,155) (13) (34)
110.00
Overseas production ratio Number consolidated subsidiaries
(Domestic) (Overseas)
(13) (31)
Number companies accounted equity method Number non-consolidated subsidiaries
projected data based information available time release this report. Therefore, number important factors including changes busines conditions cause actual results differ materially from those projected Contact: Public Relations Investor Relations Dept., ROHM CO., LTD.
Saiin Mizosaki-cho, Ukyoku, Kyoto 615-8585 Japan (075)315-5729 (Direct line)
Note: This report translation financial highlights Company prepared accordance with provisions forth Securities Exchange related accounting regulations, conformity with accounting principles generally accepted Japan. original version this report written Japanese. event discrepancies words, accounts, figures like between this report original, original Japanese version shall govern.
Interim Financial Highlights
Consolidated Financial Results (Continued from previous page)
(Figures rounded down nearest million yen. fraction less than unit rounded off.) Year ending Mar. 2006 First months Actual Year ended Mar. 2005 First months Acutal Amount Percentage
Increase/decrease from six-month period ended Sept. 2004
Year ended Mar. 2005 Annual Actual
Year ending Mar. 2006 Annual Projected
Increase/decrease from year ended Mar. 2005
Sales product category geographical region Integrated circuits (Japan) (Asia) (Americas) (Europe) Discrete semiconductor devices (Japan) (Asia) (Americas) (Europe) Passive components (Japan) (Asia) (Americas) (Europe) Displays (Japan) (Asia) (Americas) (Europe)
Millions
85,467 (40,697) (40,677) (2,156) (1,935) 74,836 (26,029) (41,907) (3,464) (3,436) 12,127 (3,715) (6,032) (964) (1,415) 20,602 (6,661) (11,439) (1,154) (1,346)
86,828 (42,431) (39,536) (1,898) (2,962) 76,506 (28,118) (40,401) (3,803) (4,183) 12,445 (4,367) (5,512) (964) (1,601) 24,630 (10,854) (11,153) (1,239) (1,383)
-1,361 (-1,734) (+1,141) (+258) (-1,027) -1,670 (-2,089) (+1,506) (-339) (-747) -318 (-652) (+520) (+0) (-186) -4,028 (-4,193) (+286) (-85) (-37)
-1.6% (-4.1%) (+2.9%) (+13.6%) (-34.7%) -2.2% (-7.4%) (+3.7%) (-8.9%) (-17.9%) -2.6% (-14.9%) (+9.4%) (+0.0%) (-11.6%) -16.4% (-38.6%) (+2.6%) (-6.8%) (-2.7%)
159,022 (81,750) (68,391) (3,207) (5,672) 141,787 (53,345) (74,000) (6,811) (7,629) 23,610 (8,446) (10,510) (1,612) (3,040) 44,603 (18,308) (21,257) (2,359) (2,678)
169,668 (81,258) (80,985) (3,648) (3,776) 147,133 (51,369) (82,511) (6,660) (6,592) 24,437 (7,730) (12,113) (1,550) (3,042) 40,761 (13,723) (21,645) (2,163) (3,230)
+6.7% (-0.6%) (+18.4%) (+13.7%) (-33.4%) +3.8% (-3.7%) (+11.5%) (-2.2%) (-13.6%) +3.5% (-8.5%) (+15.2%) (-3.9%) (+0.0%) -8.6% (-25.0%) (+1.8%) (-8.3%) (+20.6%)
Sales application Visual Audio Home appliance Other consumer Computer Telecommunications Automotive Other industrial Subassemblies Others
11.8 22.1 17.0 13.9 14.0
13.5 21.2 16.0 13.6 14.9
+0.3 -1.7 +0.1 -0.6 +0.9 +1.0 +0.5 +0.1 +0.3 -0.9
12.4 21.8 16.9 13.3 14.4
Capital expenditures product category Integrated circuits Discrete semiconductor devices Passive components Displays Others
Millions
14,164 9,115 2,346 4,807
15,070 13,363 2,967 3,323
-906 -4,248 -621 +1,484
-6.0% -31.8% -2.4% -21.0% +44.6%
38,295 22,052 1,689 6,779 16,353
45,000 24,500 2,500 4,500 10,500
+17.5% +11.1% +48.0% -33.6% -35.8%
Interim Financial Highlights
Non-consolidated Financial Results
(Figures rounded down nearest million yen. fraction less than unit rounded off.) Year ending Mar. 2006 First months Actual Year ended Mar. 2005 First months Actual Amount Percentage
Increase/decrease from six-month period ended Sept. 2004
Year ended Mar. 2005 Annual Actual
Year ending Mar. 2006 Annual Projected
Increase/decrease from year ended Mar. 2005
sales Operating income
(Operating income margin)
Millions Millions
178,590 10,355 (5.8%)
186,105 22,031 (11.8%) 50,842 (27.3%) 38,194 (20.5%) 321.56
-7,515 -11,676 (-6.0%) -29,266 (-15.2%) -22,333 (-11.6%) -184.85
-4.0% -53.0%
342,450 23,050 (6.7%)
359,000 21,000 (5.8%) 33,000 (9.2%) 24,000 (6.7%) 206.97
+4.8% -8.9%
Ordinary income
(Ordinary income margin)
Millions
21,576 (12.1%)
-57.6%
51,257 (15.0%)
-35.6%
income
(Net income margin)
Millions
15,861 (8.9%)
-58.5%
39,872 (11.6%)
-39.8%
Basic income share Return equity Ordinary income total assets
136.71
-57.5%
336.25
Total assets Shareholders' equity Shareholders' equity ratio Shareholders' equity share
Millions Millions
613,092 509,441 83.1 4,396.04
655,125 531,075 81.1 4,471.10
-42,033 -21,634 +2.0 -75.06
-6.4% -4.1%
610,135 507,455 83.2
-1.7%
4,342.71
Interim cash dividends
(Annual cash dividends)
(Yen)
45.0
42.5
+2.5 (85.0)
(90.0) 11,500 7,500
-44.4% -22.2%
Capital expenditures Depreciation (Tangible fixed assets) financial revenue
(Interest income) (Dividend income)
Millions Millions
4,918 3,399
4,954 4,159
-760
-0.7% -18.3%
20,699 9,642
(Millions yen) (Millions yen) Millions Millions
(963) (6,816) 7,779 (gain)2,417
(718) (23,892) 24,610 (gain)3,139
(+245) (-17,076) -16,831 (loss)
(+34.0%) (-71.5%) -68.4% -23.0%
(1,616) (23,909) 25,525 (gain)1,101
Total Foreign currency exchange gains/losses
Number employees Number shareholders
Financial institution shareholding ratio Foreign shareholding ratio
3,416 26,998 26.69 50.15
3,292 23,676 34.21 47.18
+124 +3,322 -7.52 +2.97
+3.8% +14.0%
3,293 26,773 30.24 48.71
Interim Financial Highlights
Consolidated Interim Financial Report Fiscal Year Ending March 2006
November 2005
Listed Company Name
ROHM CO., LTD.
Stock Exchange Listings Tokyo, Osaka Head Office Location Kyoto Prefecture
Code No.: 6963 (URL http://www.rohm.co.jp) Company representative Title: President Name: Sato Contact person Title: Group General Manager Name: Eiichi Sasayama
Date Board Directors meeting approval financial statements: November 2005 Adoption GAAP U.S. None
(075) 2121
Consolidated Business Results Six-month Period Ended September 2005 (From April 2005 September 2005) Consolidated Results Operations (Figures rounded down nearest million yen)
sales Millions months ended September 2005 months ended September 2004 Year ended March 2005 Operating income Millions Ordinary income Millions
193,033 200,411 369,023
income Millions
-3.7 10.1
34,366 54,015 76,054
-36.4
40,461 58,695 79,320
-31.1 24.9
Basic income share Diluted income share
months ended September 2005
24,238
-34.0
208.91
months ended 36,733 37.0 309.25 September 2004 Year ended March 2005 45,135 380.22 (Notes) Equity income (losses) months ended Sept. 2005: million months ended Sept. 2004: million Year ended Mar. 2005: million (ii) Average number shares outstanding (consolidated) months ended Sept. 2005: 116,024,848 shares months ended Sept. 2004: 118,780,714 shares Year ended Mar. 2005: 118,561,981 shares (iii) Change accounting policies: (iv) Percentage shown sales, Operating income, Ordinary income income represents change from data corresponding period previous year.
Consolidated Financial Position
Total assets Millions months ended September 2005 Shareholders' equity Millions Shareholders' equity ratio Shareholders' equity share
892,459
756,465
84.8
6,527.65 6,373.91 6,326.64
months ended 903,696 757,090 83.8 September 2004 Year ended March 2005 867,322 739,329 85.2 (Note) Number shares outstanding (consolidated) term months ended Sept. 2005: 115,886,475 shares months ended Sept. 2004: 118,779,579 shares Year ended Mar. 2005: 116,850,835 shares
Consolidated Cash Flows
Cash flows from operating activities Millions months ended September 2005 months ended September 2004 Year ended March 2005 Cash flows from investing activities Millions Cash flows from Cash cash financing activities equivalents term Millions Millions
44,137 56,866 91,919
-36,504 -43,515 -87,429
-15,074 -5,074 -30,037
288,984 325,868 288,974
Scope consolidation application equity method Number consolidated subsidiaries: Number non-consolidated subsidiaries accounted equity method: None Number associated companies accounted equity method: Changes scope consolidation application equity method Companies newly consolidated: None Companies excluded from consolidation: Companies newly accounted equity method: None Companies longer accounted equity method: None Consolidated Business Results Forecast Fiscal 2006 (From April 2005 March 2006)
sales Millions Fiscal 2006 Ordinary income Millions income Millions
382,000
72,000
44,000
(Note) Projected income share year ending March 2006: 379.44 forecast data based information available time release this report. Therefore, number important factors including changes business conditions cause actual results differ materially from those discussed prospective statements. Refer pages attached documents reasons forecast other relevant information.
ROHM CO., LTD.
Status ROHM Group
ROHM Group consists ROHM CO., LTD., consolidated subsidiaries Japan outside Japan) associated companies Japan outside Japan). comprehensive electronic component manufacturer, whose principal business manufacture sales electronic components. Group diagram information consolidated subsidiaries given below. Users Overseas Domestic
Finished products Administrative Responsibility Subsidiaries Asia Sales
ROHM ELECTRONICS ASIA PTE. LTD.
Sales
ROHM ELECTRONICS U.S.A., ROHM ELECTRONICS GMBH ROHM ELECTRONICS (H.K.) CO., LTD. ROHM ELECTRONICS (SHANGHAI) CO., LTD. ROHM ELECTRONICS TRADING DALIAN CO., LTD. ROHM ELECTRONICS TAIWAN CO., LTD. ROHM ELECTRONICS KOREA CORPORATION ROHM ELECTRONICS (MALAYSIA) SDN. BHD. ROHM ELECTRONICS (PHILIPPINES) SALES CORPORATION ROHM ELECTRONICS (THAILAND) CO., LTD.
Finished products
Distribution
ROHM LOGISTEC CO., LTD.
Finished products
Distribution operation contract
ROHM CO., LTD.
materials Semi-finished products
ROHM SYSTEMS (FRANCE) S.A.S.
materials Semi-finished products Finished products
Manufacture
(Domestic)
ROHM HAMAMATSU CO., LTD. ROHM WAKO DEVICE CO., LTD. ROHM APOLLO DEVICE CO., LTD. ROHM TSUKUBA CO., LTD. ROHM WAKO CO., LTD. ROHM APOLLO CO., LTD. ROHM FUKUOKA CO., LTD. ROHM AMAGI CO., LTD. ROHM MECHATECH CO., LTD.
(Overseas)
ROHM KOREA CORPORATION ROHM SEMICONDUCTOR (CHINA) CO., LTD.*2 ROHM ELECTRONICS DALIAN CO., LTD. ROHM ELECTRONICS PHILIPPINES, INC. ROHM APOLLO SEMICONDUCTOR PHILIPPINES, INC. ROHM INTEGRATED SEMICONDUCTOR (THAILAND) CO., LTD. ROHM APOLLO ELECTRONICS (THAILAND) CO., LTD. ROHM-WAKO ELECTRONICS (MALAYSIA) SDN. BHD. ROHM MECHATECH PHILIPPINES, INC. ROHM MECHATECH THAILAND CO., LTD.
Administrative Responsibility Subsidiaries North South America
ROHM U.S.A., INC.
Administrative Responsibility Subsidiaries Europe
ROHM ELECTRONICS EUROPE LIMITED
ROHM SYSTEMS U.S.A., absorbed ROHM ELECTRONICS U.S.A., April 2005. ROHM ELECTRONICS WAKO (TIANJIN) CO., LTD. ROHM ELECTRONICS COMPONENTS (TIANJIN) CO., LTD. merged with ROHM DESIGN (TIANJIN) CO., LTD. become ROHM SEMICONDUCTOR (CHINA) CO., LTD. April 2005.
ROHM CO., LTD.
Management Policies
Basic Management Policy ROHM beleives that must allocate added values produced Company, appropriate proportions, stakeholders, including shareholders, employees, local communities, well retained earnings business investment help make Company more competitive. Thus ROHM regards essential obtain understanding cooperation stakeholders create long-lasting, extensive corporate values under continuous improvement. ROHM thereby intends make shares more attractive investors, this Company's highest priorities management. Accordingly, ROHM committed developing products that will become market leaders worldwide. result high-value-added system chips digital information appliances, mobile electronic equipment, automotive components, similar products expected grow demand. Another optical devices, which also have great potential growth. Furthermore, ROHM seeks basic policy enhancement cost competitiveness through best distinctive production technologies, will continue lead world's electronic component market. Basic Policy Distribution Profits Regarding profit distribution shareholders, ROHM will make efforts live shareholders' expectations comprehensive consideration various factors, including business performance, financial standing, expected demand funds improve corporate value through business investment. More specifically, Company intends improve total return ratio keeping dividend rate consecutive consideration consolidated dividend payout ratio, while implementing flexible return-improvement measures such treasury-stock purchasing light cash-flow conditions. ROHM sustain growth improve performance semiconductor industry, market which expected grow medium long term, indispensable have product development capabilities outstripping other manufacturers enhance cost competitiveness. With accelerated sophistication development manufacturing technologies, which serve core factors such competition, funds needed investment production facilities Company's core business areas; mainly, semiconductors optical devices, increasing each year. ROHM considers that make appropriate prompt investment aimed maintaining strengthening international competitiveness growth potential semiconductor industry that undergoing drastic changes, vital, terms management, maintain ample funds reserve. Specifically, Company considers that will increasingly necessary make large-scale investment construction production lines large-diameter wafers, smaller ultra-fine processes, optical devices. ROHM intends retained earnings effectively improve Company's corporate value over medium long term, well with acquire Japanese overseas companies, expecting synergy effects business. Policy Changes Minimum Trading Size ROHM reduced minimum trading size shares from 1,000 100. consider that change produced positive results because number shareholders increased rapidly since then. Regarding further reduction minimum trading size, intend make decision after carefully examining factors concerned, including cost-benefit performance liquidity shares. Referenced Corporate Performance Indexes ROHM extending efforts ensure profits undertaking various measures continuing strengthen existing ones, including development products reinforcement sales operations. attach importance indexes representing rate return, such EBITDA*, well asset turnover ratio business investment efficiency. EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization) index obtained adding interest expenses depreciation income before income taxes minority interests. This index commonly used compare corporate earnings internationally.
Medium- Long-term Corporate Strategies Although electronics market expected expand over medium long term parallel with emergence highly sophisticated information society, international competition becoming increasingly intense amid growing fluctuation demand electronic components, which encourages realignment industry shakeout uncompetitive businesses.
ROHM CO., LTD. ensure stable growth strong well-balanced financial position under these circumstances, range measures should taken, including development creative, high-value-added products utilizing world-leading advanced technologies, enhancement cost competitiveness, establishment global production distribution network that enables high customer satisfaction both domestic overseas markets, strengthening service technical support systems customers. ROHM attaches overriding importance integrated development-production system, development custom-designed products, quality, well persistent efforts formulate implement measures these respects. Specifically, ROHM will increase personnel reinforce corporate operations handling digital technologies digital-analog integration technologies. Taking advantage original REAL SOCKET design system, which enables development complicated high-performance system chips, REAL PLATFORM, which slashes design lead time speeds development system chips, ROHM intends satisfy various customer needs, especially digital home appliance market information communications equipment market, both which demand larger-scale higher-performance system chips shorter lead time. also committed development optical devices, including laser diodes-an area expected grow rapidly markets next-generation high-density optical discs optical communications technologies; LEDs that zinc oxide main material; organic electroluminescence displays, which attracting attention nextgeneration displays. Furthermore, intend upgrade high-quality, high-reliability product lines satisfy needs from automobile industry, which increasingly incorporating electronics. ROHM runs Yokohama Technology Center, Optical Device Research Center, Test Technology Center, which operate corporate bases technological-reinforcement efforts provide customers with better support services reinforce in-house system further growth. contribute development next-generation technologies, ROHM actively involved wide range joint projects. These projects include comprehensive industrial-academic collaboration alliances with Kyoto University other leading institutions joint efforts with Semiconductor Industry Research Institute Japan, which think tank Japanese semiconductor industry. ROHM also member Japanese national leading-edge projects, which integrate wisdom academic, industrial, governmental circles. Moreover, ROHM promotes partnerships with other companies wherever necessary complement technologies, thus improving efficiency activities. Regarding corporate production system, ROHM aggressively committed improving cost competitiveness reinforcing corporate supply system sales worldwide. Specifically, concerning front-end process semiconductor production, Company committed adopting larger-diameter wafer processes, such wafers, ultra-fine process technologies. Concerning back-end process, ROHM upgrading overseas plants, including those Thailand, Philippines, China, aggressively shifting production them. intend existing domestic plants mother plants production network entire ROHM Group continuously accumulate production technologies. These technologies established domestic plants will then transferred overseas plants, enabling them manufacture supply ROHM's high-quality products throughout world. Focusing quality first foremost only manufacturing operations, also technological operations, such chip design manufacturing technology development, ROHM will continue promote company-wide efforts enhance reliability products. ROHM intends make further attempts develop products that will overwhelm those competitors quality reliability proactively committing itself internally producing more components, such wafers, photo-masks, lead frames. Company also intends further reduce lead time, thus improving international competitiveness. Moreover, ROHM plans strengthen sales technical support operations Asia, especially China, with sales bases design centers that will expand market share growing global markets. Continued efforts will made achieve more-efficient management swifter decision making restructuring streamlining cooperative organizations within outside Japan. contribute environmental conservation, ROHM Group whole committed establishing environmental management system based 14001 standards, aiming develop low-consumption products that will contribute saving energy. ROHM production bases Japan overseas, Company also continuously committed achieving zero emissions through promotion waste recycling increasing green procurement supply. ROHM also proactively involved tree-planting project part fight against global warming. Leading industry, ROHM already completed actions necessary satisfy RoHS Directive, environment conservation regulations that will take effect 2006 Europe. ROHM expending utmost efforts friendly global environment througout business activities. Priority Issues
ROHM CO., LTD. Although electronic industry expected grow medium long term result growing demand digital home information appliances increasing application electronic technologies automobiles, technological competition price wars also expected intensify continuously global scale. Therefore becoming increasingly necessary constantly supply internationally competitive products market through sustained activities develop innovative, high-quality products technologies thorough cost reduction. Under these circumstances, ROHM Group improving business performance through development high-value-added products technologies anticipation future customer needs, improvement quality reliability, reinforcement production marketing systems, thorough streamlining cost-reduction attempts throughout entire Group. Basic Policies Measures Corporate Governance Basic policy concerning corporate governance imperative that corporate governance functions effectively today. Under such circumstances, Company believes that corporate management actions should fair, unbiased, transparent, based idea that company entity supported stakeholders, including shareholders, customers, local communities, employees. this respect, regard establishment corporate governance extremely important issue. Based above understanding, ROHM performs various actions, giving priority improvement corporate value, consideration stakeholders. Updates performance corporate governance-related actions semiconductor industry, conditions surrounding corporate management change frequently. ROHM, Directors, well informed Company's businesses technologies, have executive power supervise another because ROHM believes that under such severe business conditions, this flexible effective management system most effective. function supervising ROHM's managerial execution, ROHM retains conventional auditor system, based idea that supervision managerial execution functions sufficiently strengthening reinforcing corporate-auditor-performed audit system. Board Directors have sufficient discussion make adequate swift decisions, Board proper size, which enhances function. (All directors members Company.) Concerning supervision managerial execution, have five corporate auditors, none Company member, thus reinforcing auditing functions. auditors committed building fair management supervision system through legally stipulated audits. internal control system, ROHM Internal Audit Department, which directly supervised President, addition corporate auditors. Division three members, whom functions head. audits individual in-house divisions check operational compliance with in-house rules regulations, thereby ensuring that corporate governance followed throughout company. Concerning timely disclosure corporate information, direct divisions Company affiliated companies control information comprehensively, based in-house regulations (such insider-trading prevention control regulations confidential information control regulations). also distribute action guidelines company employees hold in-house lectures, thus educating making employees informed, thereby ensuring proper information control timely adequate information disclosure. Regarding financial reporting, practice strict control activities ensure fairness. More specifically, asset securities reports semiannual reports need obtain written in-house approvals person responsible divisions involved preparation these reports, well person senior responsible divisions. Furthermore, Internal Audit Department audits written internal approvals ensure their fairness. ROHM's auditing procedures specify that corporate auditors attend major managerial meetings, such those Board Directors, that corporate auditors Internal Audit Department audit individual divisions Head Office domestic overseas affiliates holding meetings with those their managerial positions inspecting documents reports. ROHM thus audits corporate operations from every angle, ensuring that Directors perform their duties compliance with laws, that Group's internal control system well prepared working, that in-house regulations compliant, that assets sound. internal audits, audits corporate auditors, accounting audits, corporate auditors, Internal Audit Department, accounting auditors have reporting meetings regularly exchange information
ROHM CO., LTD. opinions proactively continuously maintaining close cooperation association with each other, thus sharing information they obtain their respective auditing operations enhancing auditing accuracy improving auditing operation effectively. Concerning accounting audits, ROHM under contract with auditing organization Deloitte Touche Tohmatsu, accounting audited based commercial laws special applicability Securities Exchange Act. ROHM established environment where Deloitte organization perform audits from fair, unbiased position independent third party. Concerning risk control, individual corporate organizations take measures suit characteristics risks each confront. Committees established deal with certain risks that require professional knowledge preclude risks minimize their influence. ROHM also proactively committed disclose information ensure fair transparent management. wide range information disclosure initiatives carried Company this regard, including holding information sessions research analysts, fund managers, other institutional investors disclosure financial information Internet. ROHM also committed carrying social responsibilities sustainable development corporate citizen. Specifically, Company performing various activities, such donations research equipment universities proactive involvement local community activities, retain improve good relationships with society communities. <ROHM Corporate Governance System> General Meeting Shareholders
Selection/Dismissal (Executive functions) Selection/Dismissal (Auditing function)
Board Directors Meeting (Directors) Audit Chief Executive Officer Divisions
Board Corporate Auditors Meeting (Corporate Auditors)
Cooperation
Cooperation
Accounting Auditors
Internal Audit Department
Cooperation
Personal relations, capital relations, business relations, other relations interest among Company, outside board members Company, outside corporate auditors mentioned previously, have outside board members. five outside corporate auditors have personal business relationships with Company that might influence independency audits. Efforts during past year improve Company's corporate governance part continuing efforts improve corporate governance, Company committed itself educational activities improvement corporate morale. more specific, established Privacy Policy response enforcement concerning Protection Personal Information have been actively engaged improvement reinforcement corporate organization regards control information. Concerning laws applicable internal control financial reporting, have established project team create adequate corporate system, thus reinforcing commitment internal control.
ROHM CO., LTD.
Operating Results Financial Status
Operating Results Review Six-month Period Ended September 2005 Overall review results operations six-month period ended September 2005, world economy remained firm general because continued brisk consumer spending many countries, including United States, though adversely influenced some negative factors such crude-oil price surge natural disasters. Japanese economy showed signs modest recovery, with steady continuation consumer spending capital investment. electronic component industry, market consumer appliances partially brisk while sluggish some other areas. demand electronic components limited variety digital audio-visual equipment such thin buoyant. demand conventional audio-visual equipment, such portable players, remained stagnant. Compared with previous year, when market favorably influenced demand generated Athens Olympic Games, consumer appliance market whole sluggish, partially general slowdown spring. production personal computers-especially notebook computers-remained firm, market adversely influenced decline sales prices. mobile-phone market favorably influenced production increase global market, spread third-generation mobile phones their advanced functions. Regarding individual regions, thin profile sets related products sold well Japan, mobile phone personal computer markets were stagnant. Asia, markets generally remained firm because plasma TVs, portable music players, similar products experienced good sales figures, market conventional audio-visual equipment, such portable players, continued slow pace. Europe Americas, markets generally remained stagnant, adversely influenced sluggish sales some automobile manufacturers slowdown demand mobile phones. Under these circumstances, ROHM Group continuously committed streamlining manufacturing process lines realizing more-efficient capital investment poured efforts into research development products. also committed reinforcing sales operations customer-support operations. Concerning manufacturing process lines, Company pushed forward with plan manufacture products entirely in-house, including wafers, constantly expanded wafer process. ROHM completed plant Dalian, China, began transferring production module-related products from plants Japan plant. Group also continued shift production from Japan conventional overseas plants Thailand, Philippines, China. same time, activities were undertaken develop various system chips mobile phones digital audiovisual equipment, their markets expected grow further. also increased product line-up production capacity FETs*1 other power devices*2 along with miniaturized thin-packaged devices. expand sales customer support operations, sales bases were built within outside Japan along with design centers overseas, creating corporate system strengthened technical support operations close communication with customers. these efforts, ROHM's consolidated results six-month period ended September 2005, were follows: sales decreased 3.7%, billion, from same period previous year, ordinary income income were down 31.1% 34.0%, billion billion, respectively, from same period year ago.
Metal-oxide semiconductor field-effect transistor, featuring power dissipation. Power device semiconductor used control high currents high voltages. Power devices with higher efficiency less heat production considered desirable.
Divisional review results operations <Integrated circuits> ROHM's sales integrated circuits six-month period ended September 2005, decreased 1.6%, billion, compared with same period previous year. market home appliances, sales products increased application digital audio-visual equipment, including various chips thin panels, such TVs, audio-related chips portable music players provided with hard disks flash memories. other hand, sales products conventional audiovisual equipment, such portable players, were extremely slow.
ROHM CO., LTD. mobile phone market, sales driver chips overseas markets various powersupply chips MSDL transceiver chips*3 Japanese third-generation mobile phones increased. area general-purpose chips, sales EEPROM*4, which thanks original double-cell (WCELL) system achieves high reliability levels, delivered continued strength. production operations, continued activities perform greater part front-end processing in-house. Activities such production wafers, photo-masks*5, lead frames*6. started mass production wafer process, while committing Company ultra-thin technologies, aiming develop process, which leading technology industry. back-end process, reinforced overseas production operations enriched line-ups miniaturized-package thin-package devices mobile phones. Regarding module products, sales IrDA*7 communication modules mobile phones stayed brisk. made attempts reduce costs transferring production China other countries. MSDL transceiver chips Using ROHM's original technologies, this chip enables high-speed data transmission through decreased number wires hinge folding mobile phones EMI* power dissipation. EMI: electromagnetic interference, caused electromagnetic noise emitted from electronic components) EEPROM This short electrically erasable programmable read-only memory, which data electrically rewritten repeatedly. Used many electric products including personal computers, TVs, automobiles. Photomask glass plate used transfer circuit patterns onto silicon wafers. Lead frame Frame components, such pins, connection between silicon chips sealed package board. IrDA Infrared Data Association communications standard commonly used notebook computers mobile phones <Discrete semiconductor devices> ROHM's sales discrete semiconductor devices six-month period ended September 2005, decreased 2.2%, billion, compared with same period previous year. transistors diodes, worked increase sales power devices digital audiovisual equipment, example. sales FETs power diodes remained brisk applications mostly used various power supplies mobile equipment. However, sales small-signal transistors diodes were extremely severe, influenced price decline sluggish demand. Nonetheless sales high-power laser diodes writing remained brisk personal computers. other hand, sales CD/DVD read laser diodes were adversely influenced stagnant market. LEDs, sales blue-and-white LEDs grew mainly mobile phones. production operations, tried increase capacity power devices, such FETs laser diodes, whose demands expected grow further. also made cost-reduction efforts continually shifting production overseas plants. <Passive components> ROHM's sales passive components six-month period ended September 2005, decreased 2.6%, billion, compared with same period previous year. overseas markets, competition became more intense. Under these severe market conditions, obtained increased number orders low-resistance resistors, ultra-miniature products such 0603 size products, multiple combination products, large-capacity products. Moreover, sales miniaturized, high-capacity tantalum capacitors increased compact portable equipment, such mobile phones notebook computers. -8*3
ROHM CO., LTD. production operations, continued transfer production overseas plants cost efficiency while streamlining production distribution operations. <Displays> ROHM's sales displays six-month period ended September 2005, decreased 16.4%, billion, compared with same period previous year. sales image sensor heads multifunction printers*8, printheads miniaturized printers, including (Point-of-Sale) systems, continued brisk results. regard displays, however, product orders large dot-matrix-type displays decreased. were influenced increasingly fierce price competition. Sales
sales modules were severe because sales adjustments mobile-phone market some parts Asia, including China. Sales camera modules slowed, resulting from influence rapid price declines. production operations, continued attempts reduce costs production operations transferring production plant Dalian, China.
Multifunction printer printer capable performing multiple functions besides printing, such copying, faxing, scanning
Distribution profits six-month period ended September 2005 Concerning distribution profits six-month period ended September 2005, consideration business performance during six-month period future capital needs ROHM will dividend 45.00 Japanese share planned beginning period,. annual meeting shareholders held June 2005, proposal passed allow ROHM purchase common stock million common shares maximum billion appraisal value treasury stock, during period between meeting next meeting, based provisions Article Commercial Law. Forecast Fiscal Year Ending March 2006 Overall Business Result Outlook Fiscal 2006 Currently world economy solid state; however, cannot optimistic about future: price crude soaring, European economy shows strong signs recovery, Chinese economy slowed down, consumer spending U.S. expected influenced damages from heavy hurricanes that country. electronic component industry, expectations high substantial expansion market digital audiovisual equipment, including thin TVs. Concerns that price competition will continue intense that market enter adjustment period after autumn when demand products during year-end shopping season settled down. Under these circumstances, ROHM intends continue developing high-value-added products, including highperformance system chips other miniaturized, high-reliability power discrete products. continue target information communications equipment market applications such mobile phones; digital audiovisual equipment market, including plasma TVs; automobile-related market that expected adopt more electronic content. will also continue commitment improving quality reliability reinforcing sales technical support operations, such customer support services Japan elsewhere, while streamlining corporate operations across board making cost-reduction efforts. same time ROHM will expand participation environmental conservation, conducting environmentfriendly business activities. Consolidated forecast fiscal year 2006 follows: sales: 382,000 million 3.5% over previous year) Ordinary income: 72,000 million (down 9.2% from previous year) income: 44,000 million (down 2.5% from previous year) consolidated divisional sales forecast given below.
ROHM CO., LTD. Integrated circuits Discrete semiconductor devices Passive components Displays 169,600 million 147,100 million 24,400 million 40,700 million (6.7% from previous year) (3.8% from previous year) (3.5% from previous year) (8.6% down from previous year)
actual period-end exchange rate US$1 used first half year, predicted rate US$1 second half. Distribution profits fiscal 2006 Company plans dividends share fiscal year 2006, consideration business performance during fiscal 2006, ending March 2006, expected demand funds, other factors. Analysis Financial Status Operating Results six-month period ended September 2005, total assets amounted billion, billion over fiscal year ended March 2005, because increases trade notes accounts receivable, billion; inventory, billion; tangible fixed assets, billion. trade notes accounts receivable increased over previous six-month period ended March 2005, because compared with previous six-month period, sales this period were relatively steady. Tangible fixed assets increased because ROHM vigorously invested facilities related wafer processing overseas manufacturing subsidiaries. Liabilities amounted billion, billion over fiscal year March 2005. Although accounts payable decreased billion, this rise liabilities developed because offsetting increases: deferred liability (fixed), billion; notes accounts payable, billion; other current liabilities such accrued expenses, billion. deferred liability (fixed) increased result growth accumulated earnings overseas subsidiaries. notes accounts payable increased because accrual procurement materials, increase other current liabilities attributed mainly growth personnel costs patentrelated costs. accounts payable decreased because amounts payable related facilities were reduced large repayment. These facilities temporarily expanded fiscal year end. shareholders' equity this six-month period increased billion, billion over fiscal year ended March 2005. major increase factors: retained earnings increased billion foreign currency translation adjustment account amounted increase billion. decrease factor billion increase treasury stock. These changes resulted decrease ratio shareholders' equity 84.8%, down from 85.2%, 2005 fiscal year. status cash flow six-month period ended September 2005, follows: cash flow provided operating activities decreased billion from same six-month period previous year, primarily because interim income before income taxes minority interests decreased billion cash inflow provided notes accounts receivable increased billion. cash flow provided investment activities increased billion over same six-month period previous year, chiefly because increase billion mainly resulting from acquisition sales securities investment securities, decrease billion because changes amounts increase and/or decrease time deposits, decrease billion because increase expenses resulting from acquisition tangible fixed assets. cash flow provided financing activities decreased billion from same six-month period previous year, mainly because billion increase expenses resulting from acquisition treasury stock.
Risks Concerning Company's Businesses following risks that have great impact Company's financial status operating results:
ROHM CO., LTD. Risks Associated with Market Changes semiconductor industry electronic component industry subject rapid, abrupt changes market conditions product manufacturers adjust production according sales conditions electronic products, price competition, technology development with rival companies. Pricing especially susceptible sudden drop because such factors supply-demand relationship price competition with emerging Southeast Asian manufacturers. These work instability factors maintaining increasing sales ensuring profits. Exchange Risks ROHM development bases, manufacturing bases, sales bases around world. values financial statements prepared local currencies converted into Japanese prepare consolidated financial statement. Therefore even value local currency remains same, profits losses consolidated financial statement different because exchange rates time translation. ROHM Group manufactures products Japan other Asian countries sells them Japan, other Asian countries, Americas, Europe. Because different currencies used between production bases sales offices, business performance continuously influenced exchange-rate fluctuations. Generally strong Japanese adversely influences business performance, weak works favorably Risks Product Defects Company persistently places priority quality, stated Company Mission, production constantly under severe quality control. However, this does guarantee that never produce defective products that will never liable product losses buyer. Therefore buyer makes claim losses ROHM products, business performance adversely influenced. Legal Risks manufacture products distinguished from products other companies, regularly develop technologies know-how produce sell products worldwide based these original technologies. have specialized division that strictly supervises in-house activities ensure that technologies expertise Group uses infringe intellectual property rights other companies, such patent rights. Further, every field business comply with relevant laws regulations concerning emissions, drainage, utilization handling hazardous materials, waste treatment, investigation soil underground water pollution, environmental conservation, health protection, security. However, shoulder legal responsibilities because different interpretations among those concerned unexpected events that possibly have adverse effects performance. Natural Disasters Geopolitical Risks ROHM Group conducts development manufacturing activities only Japan, also various locations around world. Although have production lines different bases measure against risks natural disasters geopolitical risks, suffer damage bases natural disaster such earthquake, typhoon, flood occurs, incidents political uncertainties international conflicts take place. these events prevent from supplying products, business performance adversely affected.
ROHM CO., LTD.
Consolidated Interim Balance Sheets
Period
First months fiscal 2006 September 2005)
First months fiscal 2005 September 2004) Amount Millions Ratio
Fiscal 2005 March 2005) Amount Millions Ratio
Increase/decrease from year ended March 2005 Amount Millions
Accounts
Amount Millions (Assets)
Ratio
Current assets Cash time deposits Notes accounts recievable trade Securities Inventories Prepaid pension cost Deferred assets Refundable income taxes Other Allowance doubtful notes accounts Total current assets 295,711 103,363 30,729 73,878 3,775 12,710 7,289 527,682 59.1 315,098 111,259 46,625 66,635 4,047 14,211 9,320 567,001 62.7 270,337 93,078 58,175 68,037 3,676 12,138 1,645 6,494 512,990 59.1 25,374 10,285 27,446 5,841 14,692
Fixed assets Property, plant equipment Buildings structures Machinery, equipment vehicles Tools furniture Land Construction progress Accumulated depreciation Total tangible fixed assets 164,102 383,917 32,932 64,616 28,309 411,835 262,044 29.4 153,288 349,852 29,251 54,351 26,792 380,098 233,437 25.8 156,327 364,086 31,391 64,582 33,181 395,610 253,958 29.3 7,775 19,831 1,541 4,872 16,225 8,086
Intangible fixed assets
1,717
2,253
1,803
Investments other assets Investment securities Deferred assets Other Allowance doubtful accounts Total investments other assets Total fixed assets Total assets 91,096 8,194 1,995 92,922 6,614 1,802 89,781 7,253 1,785 1,315
101,015 364,777 892,459
11.3 40.9 100.0
101,004 336,695 903,696
11.2 37.3 100.0
98,570 354,332 867,322
11.4 40.9 100.0
2,445 10,445 25,137
ROHM CO., LTD.
Period
First months fiscal 2006 September 2005)
First months fiscal 2005 September 2004) Amount Millions Ratio
Fiscal 2005 March 2005) Amount Millions Ratio
Increase/decrease from year ended March 2005 Amount Millions
Accounts
Amount Millions (Liabilities)
Ratio
Current liabilities Notes accounts payable trade Other accounts payable Accrued income taxes Deferred liabilities Other Total current liabilities 25,944 35,509 9,450 14,233 85,607 26,416 40,882 20,905 12,498 100,936 11.2 22,153 42,260 8,873 12,199 85,964 10.0 3,791 6,751 2,034
Long-term liabilities Deferred liabilities Liability retirement benefits Allowance directors' retirement benefits Other Total long-term liabilities Total liabilities 47,010 1,002 2,006 50,054 135,661 15.2 36,000 7,423 1,925 45,349 146,286 16.2 38,896 1,986 41,688 127,652 14.8 8,114 8,366 8,009
(Minority interests)
Minority interests
(Shareholders' equity) Common stock Capital surplus Retained earnings unrealized gain available for-sale securities Foreign currency translation adjustments Treasury stock cost Total shareholders' equity Total liabilities, minority interests shareholders' equity 86,969 102,403 620,910 3,755 11.5 69.6 86,969 102,403 598,338 3,078 11.3 66.2 86,969 102,403 601,689 2,569 10.0 11.8 69.4 19,221 1,186
27,224 30,348 756,465 892,459
84.8 100.0
33,373 757,090 903,696
83.8 100.0
34,061 20,241 739,329 867,322
85.2 100.0
6,837 10,107 17,136 25,137
ROHM CO., LTD.
Consolidated Interim Statements Income
Period
First months fiscal 2006 From April 2005 September 2005
First months fiscal 2005 From April 2004 September 2004 Amount Millions 200,411 111,942 Percentage 100.0 55.9
Increase/decrease from first months fiscal 2005 Amount Millions 7,378 9,503
Fiscal 2005 From April 2004 March 2005 Amount Millions 369,023 221,132 Percentage 100.0 59.9
Accounts
Amount Millions
Percentage 100.0 62.9
sales Cost sales
193,033 121,445
Gross profit
71,587
37.1
88,469
44.1
16,882
147,891
40.1
Selling, general administrative expenses
37,221
19.3
34,453
17.1
2,768
71,836
19.5
Operating income
34,366
17.8
54,015
27.0
19,649
76,054
20.6
Non-operating income Non-operating expenses
6,704
5,230
1,474
4,767 1,501
Ordinary income
40,461
21.0
58,695
29.3
18,234
79,320
21.5
Extraordinary gains Extraordinary losses
3,272
3,127
8,500
Income before income taxes minority interests
37,424
19.4
58,555
29.2
21,131
70,841
19.2
Income taxes current Income taxes deferred Minority interests
10,975 2,226
22,696
11.3
11,721 3,116
20,975 4,691
income
24,238
12.6
36,733
18.3
12,495
45,135
12.2
ROHM CO., LTD.
Consolidated Interim Statements Retained Earnings
Period First months fiscal 2006 From April 2005 September 2005 Accounts Amount Millions (Capital surplus) Capital surplus beginning term Capital surplus term 102,403 102,403
First months fiscal 2005 From April 2004 September 2004 Amount Millions
Fiscal 2005 From April 2004 March 2005 Amount Millions
102,403 102,403
102,403 102403
(Retained earnings) Retained earnings beginning term Increase retained earnings income Decrease retained earnings Cash dividends Bonuses directors Reserve Employees' welfare fund Retained earnings term 4,966 620,910 5,048 598,338 10,096 601,689 24,238 36,733 45,135 601,689 566,749 566,749
ROHM CO., LTD.
Consolidated Interim Statements Cash Flows
Period First months fiscal 2006 From April 2005 September 2005 Amount Millions Operating Activities Income before income taxes minority interests Depreciation amortization Amortization goodwill Interest dividends income Foreign currency exchange losses gains) Increase decrease) liability retirement benefits Decrease increase) notes accounts receivables trade Decrease increase) inventories Increase decrease) notes accounts payables trade Other Sub-total Interest dividends received Compensation expropriation received Income taxes refunded paid) cash provided operating activities Investing Activities Decrease increase) time deposits Purchases securities investment securities Proceeds from sales repayments securities investment securities Purchases property, plant equipment Other cash used investing activities Financing Activities Purchases treasury stock Dividends paid Other cash used financing activities Effect Exchange Rate Changes Cash Cash Equivalents Increase decrease) Cash Cash Equivalents Cash Cash Equivalents Beginning Term Cash Cash Equivalents Term 4,274 18,470 26,416 40,452 36,504 8,110 32,528 18,124 37,786 43,515 12,384 14,058 8,292 2,666 7,011 15,909 56,497 31,932 78,753 87,429 37,424 25,093 2,689 3,962 8,583 4,402 3,604 4,053 50,617 2,878 9,359 44,137 First months fiscal 2005 From April 2004 September 2004 Amount Millions 58,555 21,200 1,362 3,340 17,155 4,171 3,165 5,431 62,950 1,035 1,383 8,503 56,866 Increase/ Decrease from first months fiscal 2005 Amount Millions 21,131 3,893 1,327 8,572 1,378 12,333 1,843 1,383 12,729 Fiscal 2005 From April 2004 March 2005 Amount Millions 70,841 47,442 3,318 1,320 6,003 5,252 1,630 5,323 107,465 3,510 1,383 20,440 91,919
Accounts
10,107 4,966 15,074 7,450
5,048 5,074 7,013
10,082 10,000
19,940 10,096 30,037 3,944
288,974 288,984
15,290 310,578 325,868
15,281 21,604 36,884
21,603 310,578 288,974
(Note) Breakdown "Cash cash equivalents term" follows:
Cash time deposits Securities Total cash cash equivalents
(First months fiscal 2006) 288,984 million 288,984
(First months fiscal 2005) 304,832 million 21,036 325,868
(Increase/decrease) -15,848 million -21,036 -36,884
(Fiscal 2005) 267,934 million 21,040 288,974
ROHM CO., LTD. [Basis Presenting Consolidated Interim Financial Statements] Scope consolidation Number consolidated subsidiaries: Names major consolidated subsidiaries consolidated subsidiaries listed section "Status ROHM GROUP." Application equity method Number unconsolidated subsidiaries accounted equity method: Number associated companies accounted equity method: Interim accounting date consolidated subsidiaries interim accounting date ROHM ELECTRONICS DALIAN CO., LTD., other consolidated subsidiaries June which differs from that ROHM CO., LTD., which September Changes method account processing Concerning these consolidated subsidiaries, whose accounting dates different from date consolidated settlement accounts, their financial statements created their settlement dates were used produce consolidated financial statements until previous fiscal year. From this six-month period, consideration importance these consolidated subsidiaries, their accounts provisionally settled interim date consolidated settlement, consolidated financial statements produced based these provisional settlement results produce more appropriate consolidated financial statement. Accounting standards Valuation basis method significant assets Securities Marketable securities classified available-for-sale securities reported fair value (based market prices interim accounting date, like), with unrealized gains losses directly included shareholders' equity. cost available-for-sale securities sold principally determined based moving average method. Non-marketable securities stated cost determined moving average method. (ii) Inventories Inventories stated principally cost determined average method. Depreciation significant tangible fixed assets Depreciation tangible fixed assets computed principally declining-balance method, while straight-line method applied buildings (excluding building improvements) acquired ROHM Co., Ltd. domestic consolidated subsidiaries after April 1998. Accounting significant allowances allowance doubtful accounts provided estimated amount past actual ratio losses debts. Certain allowance provided estimated uncollectible receivables. (ii) Liability retirement benefits stated amount calculated based retirement benefit obligation fair value plan assets current fiscal year. (iii) ROHM Co., Ltd. certain domestic consolidated subsidiaries, retirement benefits directors corporate auditors provided amount which would required directors corporate auditors retired interim accounting date based internal rules. Basis conversion significant foreign currency assets liabilities Monetary receivables payables denominated foreign currencies translated into Japanese current exchange rates interim accounting date. foreign exchange gains losses from conversion recognized income statement extent that they hedged forward exchange contracts. balance sheet accounts overseas consolidated subsidiaries like translated into Japanese current exchange rates interim accounting dates such subsidiaries like. Revenue expense accounts overseas subsidiaries like translated into Japanese average interim annual exchange rates. Differences arising from such translation included "Minority Interests," well "Foreign currency translation adjustments" separate component shareholders' equity. Significant lease transactions Finance lease transactions, other than those that deemed transfer ownership leased property lessee, accounted operating lease transactions. Significant hedge accounting Foreign exchange forward contracts used hedge accounting. Others Consumption transactions recorded consumption taxes. Cash cash equivalents consolidated interim statements cash flows Cash cash equivalents consist cash hand, cash banks that withdrawn time, shortterm investments with maturity three months less when purchased, which easily converted cash subject little risk change value.
ROHM CO., LTD. [Notes] (Notes Consolidated Interim Statements Income)
Six-month period ended Sept. 2005 Non-operating income Interest income Foreign currency exchange gains Extraordinary loss Loss sale/disposal fixed assets Loss related early retirement program 2,659 million 3,405 Six-month period ended Sept. 2004 1,336 million 3,237 Year ended Mar. 2005 3,275 million
2,622
7,934
[Segment information] Industry segments Group's main operations manufacturing sales electronic components. sales operating income Group's main industry segment constituted more than consolidated totals six-month periods ended September 2004 2005 year ended March 2005, consequently disclosure industry segment information been omitted.
Geographical segments
First months fiscal 2006 (From April 2005 September 2005) Japan Sales Sales customers Interarea transfer Total sales Operating expenses Operating income (losses) Asia Americas Europe Total (Millions yen) EliminaConsolitions/ dated Corporate (103,532) (103,532) (100,997) 2,534) 193,033 193,033 158,667 34,366
77,280 27,999 105,280 96,826 8,453
99,672 75,238 174,911 145,412 29,498
6,832 6,958 7,863
9,248 9,416 9,562
193,033 103,532 296,565 259,664 36,901
First months fiscal 2005 (From April 2004 September 2004) Japan Sales Sales customers Interarea transfer Total sales Operating expenses Operating income (losses) Asia Americas Europe Total
(Millions yen) EliminaConsolitions/ dated Corporate 89,085) 89,085) 88,316) 769) 200,411 200,411 146,395 54,015
86,452 30,627 117,080 92,270 24,809
95,700 58,093 153,794 123,752 30,042
7,515 7,626 8,004
10,743 10,995 10,683
200,411 89,085 289,496 234,711 54,784
Fiscal 2005 (From April 2004 March 2005) Japan Asia Americas Europe Total
(Millions yen) EliminaConsolitions/ dated Corporate
Sales Sales customers 162,816 172,729 13,111 20,366 369,023 369,023 Interarea transfer 58,288 115,210 174,592 (174,592) Total sales 221,104 287,939 13,331 21,240 543,615 (174,592) 369,023 Operating expenses 188,002 243,004 14,343 21,164 466,515 (173,545) 292,969 Operating income (losses) 33,102 44,935 1,012 77,100 1,046) 76,054 (Notes) Countries areas segmented based their geographical proximity. Major countries areas which belong segments other than Japan follows: Asia Hong Kong, Singapore, Taiwan Americas United States Europe Germany Unallocable operating expenses included "Eliminations/Corporate" shown below. Unallocable operating expenses consist primarily expenses relating administrative division headquarters Company. First months fiscal 2006 3,175 million First months fiscal 2005 Fiscal 2005 2,142 3,766
ROHM CO., LTD. Sales foreign customers
First months fiscal 2006 (From April 2005 September 2005) Asia Americas Sales foreign customers 100,056 7,739 (Millions yen) Total 115,929 193,033 51.9 60.1 (Millions yen) Total 114,639 200,411 48.2 57.2 (Millions yen) Total 207,171 369,023
Europe 8,133
sales Sales foreign customers percentage sales
First months fiscal 2005 (From April 2004 September 2004) Asia Americas Sales foreign customers 96,603 7,905
Europe 10,130
sales Sales foreign customers percentage sales
Fiscal 2005 (From April 2004 March 2005) Asia Sales foreign customers 174,159
Americas 13,990
Europe 19,021
sales
Sales foreign customers 47.2 56.1 percentage sales (Notes) Countries areas segmented based their geographical proximity. Major countries areas which belong segments other than Japan follows: Asia Hong Kong, Singapore, Taiwan Americas United States Europe Germany Sales foreign customers consist export sales Company domestic consolidated subsidiaries sales (other than exports Japan) overseas consolidated subsidiaries.
[Leases] Finance leases that transfer ownership leased property lessee forma information acquisition cost, accumulated depreciation book value leased property
Six-month period ended Sept. 2005 Tools, furniture other million Six-month period ended Sept. 2004 Tools, furniture other million Year ended Mar. 2005 Tools, furniture other million
Acquisition cost Accumulated depreciation leased property
forma obligations under finance leases
within year after year Total
Lease payments depreciation leased property
Lease payments Depreciation
Depreciation leased property calculated straight-line method over respective lease terms regarded being useful life, with residual value zero. Acquisition cost forma obligations under finance leases presented above calculated prior deduction portions attributable interest expense, term-end balance obligations accounts only small percentage term-end tangible fixed assets. [Debt equity securities] First months fiscal 2006 September 2005)
ROHM CO., LTD. Marketable available-for-sale securities
(Millions yen) Classification Equity securities Government corporate bonds Total Acquisition cost 7,912 106,153 114,065 Amount consolidated interim balance sheet 14,599 105,749 120,348 Difference 6,686 6,282
Major securities whose fair value readily determinable
Available-for-sale securities Unlisted equity securities Unlisted foreign securities Total 1,064 million 1,472
First months fiscal 2005 September 2004) 1.Marketable available-for-sale securities
(Millions yen) Classification Equity securities Government corporate bonds Other Total Acquisition cost 8,311 103,560 21,005 132,877 Amount consolidated interim balance sheet 13,520 104,187 21,053 138,762 Difference 5,209 5,884
Major securities whose fair value readily determinable
Available-for-sale securities Unlisted equity securities (Excluding over-thecounter securities) million
Fiscal 2005 March 2005) 1.Marketable available-for-sale securities
(Millions yen) Classification Equity securities Government corporate bonds Other Total Acquisition cost 7,910 113,191 21,005 142,108 Amount consolidated interim balance sheet 12,459 113,028 21,040 146,528 Difference 4,548 4,420
Major securities whose fair value readily determinable
Available-for-sale securities Unlisted equity securities Unlisted foreign securities Total 1,006 million 1,422
ROHM CO., LTD. [Derivatives] First months fiscal 2006 (From April 2005 September 2005) Currency derivatives disclosed because hedge accounting adopted. First months fiscal 2005 (From April 2004 September 2004) Currency derivatives disclosed because hedge accounting adopted. Fiscal 2005 (From April 2004 March 2005) Currency derivatives disclosed because hedge accounting adopted.
Production, Orders Received Sales
(1)Actual production
(Millions yen) Period First months fiscal First months fiscal Increase/Decrease 2006 2005 from first months From April 2005 From April 2004 fiscal 2005 September 2005 September 2004 83,194 74,434 12,405 23,082 85,287 79,885 12,435 25,471 2,093 5,451 2,389 Fiscal 2005 From April 2004 March 2005 158,675 145,218 23,365 43,811
Electronic Components
Product category Integrated circuits
Discrete semiconductor devices Passive components Displays
Total 193,115 203,079 9,964 371,070 (Notes) amounts above calculated based average sales prices each accounting period exclusive consumption like. Major products included each category follows: Product category Major products Electronic Components Integrated circuits Discrete semiconductor devices Passive components Displays Monolithic ICs, Power Modules, Photo Link Modules Transistors, Diodes, Light Emitting Diodes, Laser Diodes Resistors, Capacitors Liquid Crystal Displays, Thermal Heads, Image Sensor Heads, Displays, Camera Modules, Others
(2)Orders
(Millions yen) Period First months fiscal First months fiscal Increase/Decrease 2006 2005 from first months From April 2005 From April 2004 fiscal 2005 September 2005 September 2004 Product Order Orders Order Orders Order Orders category received backlog received backlog received backlog Integrated 87,281 24,446 82,328 20,506 4,953 3,940 circuits Discrete semiconductor 76,895 22,111 74,814 19,295 2,081 2,816 devices Electronic Components Passive components Displays Total 12,799 20,765 197,742 3,665 8,270 58,493 12,009 24,043 193,196 3,080 7,473 50,355 3,278 4,546 8,138 Fiscal 2005 From April 2004 March 2005 Orders Order received backlog 156,647 140,853 23,087 44,648 365,236 22,631 20,053 2,993 8,106 53,784
ROHM CO., LTD. (3)Actual sales
Actual sales product category (domestic) Period First months fiscal First months fiscal Increase/Decrease 2006 2005 from first months From April 2005 From April 2004 fiscal 2005 September 2005 September 2004 Increase/ Domestic Domestic Product Sales Decrease Sales Sales ratio ratio category ratio Electronic Components Integrated circuits Discrete semiconductor devices Passive components Displays Total 40,697 26,029 3,715 6,661 77,104 47.6% 34.8 30.6 32.3 39.9 42,431 28,118 4,367 10,854 85,772 48.9% 36.8 35.1 44.1 42.8 1,734 2,089 4.1% 14.9 38.6 10.1 (Millions yen) Fiscal 2005 From April 2004 March 2005 Sales 81,750 53,345 8,446 18,308 161,852 Domestic ratio 51.4% 37.6 35.8 41.0 43.9
4,193 8,668
Actual sales product category (overseas) Period First months fiscal First months fiscal Increase/Decrease 2006 2005 from first months From April 2005 From April 2004 fiscal 2005 September 2005 September 2004 Product category Integrated circuits Electronic Components Discrete semiconductor devices Passive components Displays Total Sales 44,769 48,807 8,412 13,940 115,929 Overseas ratio 52.4% 65.2 69.4 67.7 60.1 Sales 44,397 48,388 8,078 13,775 114,639 Overseas ratio 51.1% 63.2 64.9 55.9 57.2 Sales 1,290 Increase/ Decrease ratio 0.8%
(Millions yen) Fiscal 2005 From April 2004 March 2005 Sales 77,271 88,441 15,163 26,294 207,171 Overseas ratio 48.6% 62.4 64.2 59.0 56.1
Actual sales product category (total)
Period First months fiscal First months fiscal Increase/Decrease 2006 2005 from first months From April 2005 From April 2004 fiscal 2005 September 2005 September 2004 Sales Sales percentage sales 44.3% 38.7 10.7 100.0 Sales Sales percentage sales 43.3% 38.2 12.3 100.0 Sales Increase/ Decrease ratio 1.6% 16.4
(Millions yen)
Fiscal 2005 From April 2004 March 2005 Sales Sales percentage sales 43.1% 38.4 12.1 100.0
Electronic Components
Product category Integrated circuits Discrete semiconductor devices Passive components Displays Total
85,467 74,836 12,127 20,602 193,033
86,828 76,506 12,445 24,630 200,411
1,361 1,670
159,022 141,787 23,610 44,603 369,023
4,028 7,378
Summarized Non-consolidated Interim Financial Statements Fiscal Year Ending March 2006
November 2005
Listed Company Name
ROHM CO., LTD.
Stock Exchange Listings Tokyo, Osaka Head Office Location Kyoto Prefecture
Code No.: 6963 (URL http://www.rohm.co.jp) Company representative Title: President Name: Sato Contact person Title: Group General Manager Name: Eiichi Sasayama
Date Board Directors meeting approval financial statements: November 2005 Date commencement interim dividend payment: December 2005
(075) 2121
Existence interim dividend system: Adoption trading unit system: unit: shares)
Business Results Six-month Period Ended September 2005 (From April 2005 September 2005) Results Operations (Figures rounded down nearest million yen)
sales Millions months ended September 2005 months ended September 2004 Year ended March 2005 Operating income Millions Ordinary income Millions
178,590 186,105 342,450
income Millions
-4.0 13.2
10,355 22,031 23,050
-53.0 15.1
21,576 50,842 51,257
-57.6 97.4
Basic income share
months ended September 2005 months ended September 2004 Year ended March 2005
15,861 38,194 39,872
-58.5 98.1
136.71 321.56 336.25
(Notes) Average number shares outstanding months ended Sept. 2005: 116,024,848 shares months ended Sept. 2004: 118,780,714 shares Year ended Mar. 2005: 118,561,981 shares (ii) Change accounting policies: None (iii) Percentage shown sales, Operating income, Ordinary income income represents change from data corresponding period previous year.
Dividend Information
Interim dividends share months ended September 2005 months ended September 2004 Year ended March 2005 Annual dividends share
45.00 42.50
85.00
Financial Position
Total assets Millions months ended September 2005 Shareholders' equity Millions Shareholders' equity ratio Shareholders' equity share
613,092
509,441
83.1
4,396.04 4,471.10 4,342.71
months ended 655,125 531,075 81.1 September 2004 Year ended March 2005 610,135 507,455 83.2 (Notes) Number shares outstanding term months ended Sept. 2005: 115,886,475 shares months ended Sept. 2004: 118,779,579 shares Year ended Mar. 2005: 116,850,835 shares (ii) Number treasury stock term months ended Sept. 2005: 2,914,913 shares months ended Sept. 2004: 21,809 shares Year ended Mar. 2005: 1,950,553 shares
Business Results Forecast Fiscal 2006 (From April 2005 March 2006)
sales Millions Fiscal 2006 Ordinary income Millions income Annual dividends share fiscal year Millions
359,000
33,000
24,000
45.00
90.00
(Note) Projected income share year ending March 2006: 206.97 forecast data based information available time release this report. Therefore, number important factors including changes business conditions cause actual results differ materially from those discussed prospective statements. Refer pages attached documents reasons forecast other relevant information.
ROHM CO., LTD.
Non-consolidated Interim Balance Sheets
Period
First months fiscal 2006 September 2005)
First months fiscal 2005 September 2004) Amount Millions Ratio
Fiscal 2005 March 2005) Amount Millions Ratio
Increase/decrease from year ended March 2005 Amount Millions
Accounts
Amount Millions (Assets)
Ratio
Current assets Cash time deposits Notes receivable trade Accounts receivable trade Securities Inventories Prepaid pension cost Deferred assets Sundry receivables Other Allowance doubtful notes accounts Total current assets 122,415 1,440 97,694 25,788 20,489 8,417 31,737 19,213 327,547 53.4 157,693 2,456 99,614 44,727 24,453 9,358 37,641 18,035 394,163 60.2 106,396 2,031 85,741 53,052 22,455 7,725 40,361 19,244 337,291 55.3 16,019 11,953 27,264 1,966 8,624 9,744
Fixed assets
Property, plant equipment Buildings Machinery equipment Land Other Total tangible fixed assets 21,171 7,624 44,831 12,344 85,971 14.0 21,211 9,001 34,995 12,835 78,043 11.9 21,592 8,785 44,528 9,273 84,180 13.8 1,161 3,071 1,791
Intangible fixed assets
Investments other assets Investment securities Long-term loans receivable Deferred assets Other Allowance doubtful accounts Total investments other assets Total fixed assets Total assets 135,051 58,692 4,234 136,367 38,913 6,138 138,325 43,718 5,238 3,274 14,974 1,004
198,768 285,545 613,092
32.4 46.6 100.0
181,934 260,962 655,125
27.8 39.8 100.0
187,771 272,844 610,135
30.8 44.7 100.0
10,997 12,701 2,957
ROHM CO., LTD.
Period
First months fiscal 2006 September 2005)
First months fiscal 2005 September 2004) Amount Millions Ratio
Fiscal 2005 March 2005) Amount Millions Ratio
Increase/decrease from year ended March 2005 Amount Millions
Accounts
Amount Millions (Liabilities)
Ratio
Current liabilities Accounts payable trade Other accounts payable Accrued income taxes Other Total current liabilities 68,901 22,088 3,964 7,176 102,129 16.7 73,915 26,972 12,517 5,725 119,131 18.2 63,317 26,439 5,013 6,426 101,196 16.6 5,584 4,351 1,049
Long-term liabilities Liability retirement benefits Allowance directors' retirement benefits Other Total long-term liabilities Total liabilities 1,497 1,521 103,651 16.9 3,472 1,446 4,918 124,049 18.9 1,483 1,483 102,680 16.8
(Shareholders' equity)
Common stock Capital surplus Capital surplus Total capital surplus Retained earnings Legal reserve General reserve Unappropriated retained earnings Total retained earnings unrealized gain available-for-sale securities Treasury stock cost Total shareholders' equity Total liabilities shareholders' equity
86,969
14.2
86,969
13.3
86,969
14.3
97,253 97,253 15.9
97,253 97,253 14.8
97,253 97,253 15.9
2,464 323,227 25,896 351,588 3,978 30,348 509,441 613,092 57.3 83.1 100.0
2,464 283,121 58,483 344,069 3,109 531,075 655,125 52.5 81.1 100.0
2,464 283,121 55,112 340,698 2,775 20,241 507,455 610,135 55.8 83.2 100.0
40,106 29,216 10,890 1,203 10,107 1,986 2,957
ROHM CO., LTD.
Non-consolidated Interim Statements Income
Period
First months fiscal 2006 From April 2005 September 2005
First months fiscal 2005 From April 2004 September 2004 Amount Millions 186,105 137,963 Percentage 100.0 74.1
Increase/decrease from first months fiscal 2005 Amount Millions 7,515 1,187
Fiscal 2005 From April 2004 March 2005 Amount Millions 342,450 263,875 Percentage 100.0 77.1
Accounts
Amount Millions
Percentage 100.0 77.9
sales Cost sales
178,590 139,150
Gross profit
39,439
22.1
48,142
25.9
8,703
78,575
22.9
Selling, general administrative expenses
29,083
16.3
26,111
14.1
2,972
55,524
16.2
Operating income
10,355
22,031
11.8
11,676
23,050
Non-operating income Non-operating expenses
11,641
29,225
15.7
17,584
29,409 1,202
Ordinary income
21,576
12.1
50,842
27.3
29,266
51,257
15.0
Extraordinary gains Extraordinary losses
Income before income taxes
21,288
11.9
51,234
27.5
29,946
51,723
15.1
Income taxes current Income taxes deferred
5,936
15,168 2,128
9,232 1,618
11,218
income Unappropriated retained earnings brought forward from previous year Interim dividends
15,861
38,194
20.5
22,333
39,872
11.6
10,034
20,288
10,254
20,288
5,048
Unappropriated retained earnings
25,896
58,483
32,587
55,112
ROHM CO., LTD. [Basis Presenting Interim Financial Statements] Valuation basis method assets Securities Investment securities subsidiaries associated companies stated cost determined moving average method. Marketable securities classified available-for-sale securities reported fair value (based market prices interim accounting date, like), with unrealized gains losses directly included shareholders' equity. cost available-for-sale securities sold principally determined based moving average method. Non-marketable securities stated cost determined moving average method. Inventories Finished products, semi-finished products, materials work process stated cost determined average method. Supplies stated cost determined last purchase method. Depreciation fixed assets Depreciation tangible fixed assets computed declining-balance method, while straight-line method applied buildings (excluding building improvements) acquired after April 1998. Depreciation intangible fixed assets computed straight-line method. Accounting allowances allowance doubtful accounts provided estimated amount past actual ratio losses debts. Certain allowance provided estimated uncollectible receivables. Liability retirement benefits stated amount calculated based retirement benefit obligation fair value plan assets current fiscal year. However, because fair value plan assets exceeded projected benefit obligation current term, excess accounted "Prepaid pension cost," resulting balance "Liability retirement benefits" being zero. Retirement benefits directors corporate auditors provided amount that would required directors corporate auditors retired interim accounting date based internal rules. Basis translation foreign currency assets liabilities Monetary receivables payables denominated foreign currencies translated into Japanese current exchange rates interim accounting date. foreign exchange gains losses from translation recognized income statement extent that they hedged forward exchange contracts. Lease transactions Finance lease transactions, other than those that deemed transfer ownership leased property lessee, accounted operating lease transactions. Hedge accounting Foreign exchange forward contracts used hedge accounting. Others Consumption transactions recorded consumption taxes.
[Notes] (Notes non-consolidated interim balance sheets) Accumulated depreciation tangible fixed assets
Six-month period ended Sept. 2005 109,186 million Six-month period ended Sept. 2004 105,131 million Year ended Mar. 2005 106,791 million
(Notes non-consolidated interim statements income)
Six-month period ended Sept. 2005 Non-operating income Interest income (including interest securities) Dividend income Foreign currency exchange gains million 6,816 2,417 million 23,892 3,139 1,616 million 23,909 1,101 Six-month period ended Sept. 2004 Year ended Mar. 2005
ROHM CO., LTD.
Six-month period ended Sept. 2005 Extraordinary gains Gain sale fixed assets Extraordinary losses Losses sale/disposal fixed assets million
Six-month period ended Sept. 2004 million
Year ended Mar. 2005 million
[Leases] Finance leases that transfer ownership leased property lessee forma information acquisition cost, accumulated depreciation book value leased property
Six-month period ended Sept. 2005 Other tangible fixed assets Acquisition cost Accumulated depreciation leased property million Six-month period ended Sept. 2004 Other tangible fixed assets million Year ended Mar. 2005 Other tangible fixed assets million
forma obligations under finance leases
within year after year Total
Lease payments depreciation leased property
Lease payments Depreciation
Depreciation leased property calculated straight-line method over respective lease terms regarded being useful life, with residual value zero. Acquisition cost forma obligations under finance leases presented above calculated prior deduction portions attributable interest expense, term-end balance obligation accounts only small percentage term-end tangible fixed assets.

Consolidated Financial Results (Figures rounded down nearest mill

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