Forecasts (FY2020)

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In 2020, the global economy will not be ripe for a full-scale turnaround and the situation will remain uncertain, given that the U.S.-China trade dispute may possibly resurge after a tentative settlement and that there are geopolitical risks, although the economy now appears to have hit the bottom as the inventory adjustment has come to an end. In addition, there is concern about a slowdown in consumer spending, which has supported the economy to date, and about the impact of the spread of the novel coronavirus on the economy.

In the markets related to the Tamron Group, interchangeable lens camera sales will shrink overall, resulting from a continuing slide in SLR cameras amid the brisk performance of mirrorless cameras. Sales of interchangeable lenses are expected to follow suit. Meanwhile, the market of products for industrial use is forecast to continue growing, including surveillance cameras that are enjoying increasing security demand, factory automation and machine vision products supporting automated manufacturing, and automotive cameras amid the progress of autonomous driving, as it is anticipated that these products will offer greater precision and increasingly diverse applications.

In this situation, the Group will release new interchangeable lens products under its own brand for mirrorless cameras to accelerate the enhancement of its product lineup. For industrial-use products including automotive cameras, surveillance cameras, factory automation and machine vision products, we will introduce high value-added products and build closer ties with customers and business partners with a view to business expansion. In consideration of all these factors, we forecast net sales of 65,500 million yen, up 3.5% year on year, operating income of 7,000 million yen, up 0.2% year on year, ordinary income of 7,000 million yen, up 5.4% year on year, and profit attributable to owners of parent of 5,010 million yen, down 6.0% year on year, for the consolidated fiscal year ending December 31, 2020.

This forecast assumes foreign exchange rates of 107 yen against the U.S. dollar and 120 yen against the euro.

This material and the information provided are based on the data that are obtainable at the time of the report and it is advisable that actual results may sometimes differ from the forecasts contained herein due to various factors.