2013q4 e final_217

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  • Trend Micro FY2013.4Q / Annual Results

    Mahendra Negi COO/CFO, Representative Director February 18, 2014

    2/17/2014 Copyright 2013 Trend Micro Incorporated. All rights reserved. 1

  • Confidential | Copyright 2012 Trend Micro Inc.

    Forward Looking Statements

    Certain Statements that we make in this presentation are forward-looking statements. These forward-looking statements are based upon managements current assumptions and beliefs in light of the information currently available to it, but involve known and unknown risks and uncertainties. Many important factors could cause our actual results to differ materially from those expressed in our forward-looking statements. These factors include: difficulties in addressing new virus and other computer security problems; timing of new product introductions and lack of market acceptance for our new products; the level of continuing demand for , and timing of sales of , our existing products; rapid technological change within the anti-virus software industry; changes in customer needs for anti-virus software; existing products and new product introductions by our competitors and the pricing of those products; declining prices for our products and services; the effect of future acquisitions on our financial condition and results of operations; the effect of adverse economic trends on our principal markets; the effect of foreign exchange fluctuations on our results of operations; an increase in the incidence of product returns; the potential lack of attractive investment targets; and difficulties in successfully executing our investment strategy.

    We assume no obligation to update any forward-looking statements.

    2

  • 2/17/2014 Copyright 2013 Trend Micro Incorporated. All rights reserved.

    FY2013. 4Q Financial Highlight

    Fourth quarter ended December 31, 2013

    3

  • 28,428

    16,122 7,663

    4,642 24,313 4,574

    13,943 5,795

    + 17% + 1%

    + 16% + 32%

    27% 24%

    4Q2013 4Q2012

    4,656 2,680 + 74% 8,713 5,579 + 56%

    Three months ended Dec 31,

    Q4 Consolidated Results

    Net sales Cost of sales Operating expenses

    Net income Ordinary income (Margin) Operating income

    (in million Yen)

    YoY growth

    24,313 25,403 + 4% Net sales * The JPY amount for 4Q2013 shown above has been calculated by applying to each foreign currency net sales amount for 4Q2013 the weighted average exchange rate between such foreign currency and JPY that was used to convert the net sales amount denominated in such foreign currency for 4Q2012 into a JPY net sales amount for Japan GAAP reporting purposes.

    If currency exchange rates used for 4Q2012 were used for 4Q2013

    (Non-GAAP)

    For reference Revenue before adjusting deferred revenue

    26,112 30,348 + 16% Pre-GAAP

    + 2% ( In case of excluding a foreign exchange impact )

    (Non-GAAP)

    4

  • Progress 12months

    (in million Yen)

    5

    Revenue

    93,839

    69,526

    45,689

    22,630

    79,885

    52,815

    25,783

    108,314

    0

    20,000

    40,000

    60,000

    80,000

    100,000

    120,000

    Q1 Q2 Q3 Q4

    FY2012 FY2013

    (Forecast 107,200)

    Operating Income

    22,407

    16,611

    10,503

    5,568

    21,786

    13,769

    7,338

    29,450

    0

    5,000

    10,000

    15,000

    20,000

    25,000

    30,000

    35,000

    Q1 Q2 Q3 Q4

    FY2012 FY2013

    (Forecast 26,400)

  • Confidential | Copyright 2012 Trend Micro Inc.

    Three months ended Dec 31, 4Q2013 4Q2012 YoY change

    (Non-GAAP)

    (in thousand USD) (unaudited)

    Q4 USD based Results (Non-GAAP)

    For each of the quarters shown in the table above, JPY Japan GAAP amounts have been converted to USD amounts using the exchange rates of USD=81.33 JPY for 4Q2012 and 1 USD =100.61 JPY for 4Q2013, respectively, which are

    the respective weighted average exchange rates used to convert USD net sales to JPY for these quarters.

    - 5% 282,562

    160,246

    76,174

    46,142 298,944

    56,249

    171,438

    71,257

    - 18%

    - 7%

    + 7%

    Net sales Cost of sales

    Operating expenses

    Operating income

    Net Income 46,284 32,963 + 40%

    86,604 68,606 + 26% Ordinary income

    6

  • 4,2824,975

    11,656

    2,864

    534

    12,645

    3,416

    687

    6,047 5,631

    0

    1,000

    2,000

    3,000

    4,000

    5,000

    6,000

    7,000

    8,000

    9,000

    10,000

    11,000

    12,000

    13,000

    Japan North America Europe Asia Pacific Latin America

    4Q20124Q2013

    Confidential | Copyright 2012 Trend Micro Inc.

    (unaudited) (in million Yen)

    Net Sales Growth by Region

    7

    + 8%

    + 22% + 32%

    + 19%

    + 29%

  • 534

    2,864

    11,656

    4,9754,282 4,341

    4,890

    587

    2,939

    12,645

    01,0002,0003,0004,0005,0006,0007,0008,0009,000

    10,00011,00012,00013,000

    Japan North America Europe Asia Pacific Latin America

    4Q20124Q2013

    + 8%

    - 2%

    +1%

    + 3%

    + 10%

    (-1,157)

    (-1,289)

    (-477)

    (-100)

    (0)

    Net Sales Growth by Region

    Confidential | Copyright 2012 Trend Micro Inc.

    * Each JPY amount for 4Q2013 shown above has been calculated by applying to the relevant foreign currency net sales amount for 4Q2013 the weighted average exchange rate between such foreign currency and JPY that was used to convert the net sales amount denominated in such foreign currency for 4Q2012 into a JPY net sales amount for Japan GAAP reporting purposes.

    If currency exchange rates used for 4Q2012 were used for 4Q2013: (unaudited) (in million Yen)

    * ( ) : difference from GAAP base

    8 8

    (Non-GAAP)

  • Confidential | Copyright 2012 Trend Micro Inc.

    Decomposition of Revenue (vs. last year

    9

    (Non-GAAP)

    (unaudited)

    9

    24,313M

    + 989M

    Japan

    20124

    Net sales

    North America Latin America

    Exchange impact

    + 3,024M

    28,428M

    20134

    Net sales

    Asia Pacific Europe

    + 74M + 59M + 53M - 85M

  • Confidential | Copyright 2012 Trend Micro Inc.

    Constant currency Revenue growth

    (Non-GAAP)

    (unaudited)

    Each growth rate shown above is based on applying to each quarter the same currency rate as the previous year for the same period

    (YoY)

    10

    -5%

    0%

    5%

    10%

    15%

    20%

    2007

    Q1

    2007

    Q2

    2007

    Q3

    2007

    Q4

    2008

    Q1

    2008

    Q2

    2008

    Q3

    2008

    Q4

    2009

    Q1

    2009

    Q2

    2009

    Q3

    2009

    Q4

    2010

    Q1

    2010

    Q2

    2010

    Q3

    2010

    Q4

    2011

    Q1

    2011

    Q2

    2011

    Q3

    2011

    Q4

    2012

    Q1

    2012

    Q2

    2012

    Q3

    2012

    Q4

    2013

    Q1

    2013

    Q2

    2013

    Q3

    2013

    Q4

  • 6652,416

    6,0503,745

    5,241

    3902,302

    22

    1,000

    6,595

    0

    1,000

    2,000

    3,000

    4,000

    5,000

    6,000

    7,000

    8,000

    9,000

    10,000

    11,000

    12,000

    13,000

    Japan North America Europe APAC Latin America

    ConsumerAll Enterprise

    Confidential | Copyright 2012 Trend Micro Inc.

    Sales by Segment

    (Non-GAAP)

    (in million Yen)

    Notice As Sales by Segment numbers are just for internal use, they may be subject to some changes hereafter. 11

    Growth rate (YoY)

    + 12% + 20%

    + 3%

    + 14%

    + 30%

    + 35%

    + 5%

    + 23%

    + 12% + 32%

    + 80%

    + 28%

  • Confidential | Copyright 2012 Trend Micro Inc.

    Cloud related Gross sales

    (Non-GAAP)

    Notice As above numbers are just for internal use, they may be subject to some changes hereafter. 12

    RevenueDeep Security / Hosted / CPVM / IDF

    -

    500

    1,000

    1,500

    2,000

    2,500

    3,000

    3,500

    2009Q1

    2009Q2

    2009Q3

    2009Q4

    2010Q1

    2010Q2

    2010Q3

    2010Q4

    2011Q1

    2011Q2

    2011Q3

    2011Q4

    2012Q1

    2012Q2

    2012Q3

    2012Q4

    2013Q1

    2013Q2

    2013Q3

    2013Q4

    JPY

    'M

  • % share by region

    Confidential | Copyright 2012 Trend Micro Inc. 13

    4Q2013 28,428 million Yen

    Japan 44%

    North America

    21%

    Europe 20%

    Latin America

    2% Asia

    Pacific 12%

    4Q2012 24,313 million Yen

    Japan 48%

    North America

    20%

    Europe 18%

    Latin America

    2% Asia

    Pacific 12%

  • 5,5915,045

    11,893

    2,994

    587

    11,834

    3,669

    766

    5,906

    8,172

    Japan North America Europe Asia Pacific Latin America

    4Q20124Q2013

    - 0%

    + 17%

    + 46%

    + 23%

    + 31%

    Confidential | Copyright 2012 Trend Micro Inc.

    (in million Yen)

    For reference Pre-GAAP (Revenue before adjusting Deferred revenue)

    (Non-GAAP)

    (unaudited)

    Notice Pre-GAAP means Revenue before adjusting deferred revenue and sales return allowance. As these numbers are just for internal use, they may be subject to some changes hereafter. 14

  • Co