Investor Relations

To Our Shareholders

FY2012 Financial Results
In the current fiscal year, recovery of the Japanese economy appeared to be faltering, but we have started to see signs of positive changes as well, such as improving stock prices and exchange rates due to the change in political leadership. Overseas, the pace of economic expansion in China has slowed and the economy is weakening in Europe due to concerns over the financial instability in some countries extending into the long term. In the U.S., the economy has gradually recovered.

Akira Nakamoto,President and Chief Executive Officer

In the midst of such circumstances, the Shimadzu Group has been actively implementing growth measures in accordance with our medium-term management plan, such as introducing globally strategic products, strengthening the aftermarket business, and promoting local R&D and local production overseas. A new organizational structure has been started that integrates the planning, R&D, manufacturing, and sales functions for major markets, namely North America, Europe, and China, under the control of respective divisions. An International Business Department was established with a mission of developing new markets and growth primarily in newly emerging economies. In addition, we focused efforts on ensuring business results by expanding sales of new competitive products tailored to customer needs and other measures.
As a result, for the current fiscal year, sales increased for the Analytical & Measuring Instruments and Medical Systems businesses, decreased for the Aircraft Equipment business, due to lower demand in Japan, and decreased for the Industrial Machinery business, due to stagnating semiconductor and LCD markets. Consequently, overall sales decreased to 264,048 million yen (a year-on-year decrease of 0.8%). In terms of profit and loss, the strong yen, increased expenses due to aggressive business deployment, such as for R&D costs, and other factors, operating income was 12,116 million yen (37.4% decrease), ordinary income was 13,472 million yen (27.8% decrease), and net income was 7,578 million yen (16.6% decrease).

FY2012 Dividend
For the fiscal year ended March 31, 2013, we paid 9.00yen per share in one year, which is an increase of 1.00yen compared to the previous year. We paid the interim dividend of 4.50yen per share, and the terminal dividend of the same.

FY2013 Plan
The Shimadzu Group has been deploying our businesses according to a three-year medium-term management plan started in April 2011, which is based on our long-term vision "Toward Becoming a True Global Business." Based on our fundamental policy to "Become the No. 1 Partner Selected by Customers Globally," this plan aims to achieve growth in both developed and newly emerging economies through a strategy of introducing globally strategic products and providing solutions, through measures such as (1) pursuing global growth, (2) providing solutions that customers will choose, (3) focusing on growth markets and strong businesses, and (4) improving profitability.
Since 2013 is the last year of the current medium-term plan, we will work diligently to implement these measures and actively deploy our businesses.
To expand our business results and increase our global market share, we will first accurately identify trends in customer needs and sense of value and then focus a variety of resources from R&D, manufacturing, sales, and service on developing globally strategic products that are globally number-one or truly unique, and also offer optimal solutions.
In addition, we intend to expand the aftermarket business, which is expected to ensure a stable source of profit, by strengthening our parts and consumables businesses.
To improve our capacity to handle sudden changes in markets or operating environments, we will improve profitability for the overall Shimadzu Group by further optimizing the balance between locating production and procurement in Japan or overseas, and actively pursue lower cost designs. Furthermore, to reduce inventory levels, we will continue to implement production and logistic reforms and achieve timelier product supply capabilities by strengthening the coordination between R&D, manufacturing, sales, and logistics functions.
To achieve progress "Toward Becoming a True Global Business," we will also further strengthen the in-house company system that was started at overseas sales subsidiaries in April 2012, and make sure it produces results.
On January 25, 2013, it was discovered that Shimadzu overcharged the Japanese Ministry of Defense by reporting more-than-actual labor hours. Consequently, Shimadzu has been suspended from participating in contracts with the Ministry of Defense. Due to the gravity of the situation, we are conducting a thorough investigation to provide full disclosure and determine the causes. Furthermore, we will strengthen internal controls and implement thorough compliance measures to prevent reoccurrence.

Thank you for your continue support as a stockholder.

27 June, 2013
Akira Nakamoto
President and Chief Executive Officer


11/08/13 FY2013 First half Earnings Release(shceduled)
08/07/13 FY2013 Three months Earnings Release
05/10/13 FY2012 Full year Earnings Release
02/12/13 FY2012 Nine months Earnings Release
11/08/12 FY2012 First half Earnings Release
08/06/12 FY2012 Three months Earnings Release
05/10/12 FY2011 Full year Earnings Release
02/10/12 FY2011 Nine months Earnings Release
11/10/11 FY2011 First half Earnings Release
08/03/11 FY2011 Three months Earnings Release

Stock Information

¥,except market capitalization
Years ended March 31 2009 2010 2011 2012 2013
Stock price range
(Tokyo Stock Exchange)
High 1,204 792 808 785 751
Low 510 531 555 555 481
Fiscal year-end 629 749 739 747 671
Number of shares
(fiscal year-end, in millions)
296 296 296 296 296
Market capitalization
(fiscal year-end, in millions of yen)
186,228 221,756 218,796 221,164 198,663
Dividend 9.00 7.00 8.00 8.00 9.00