Securities Code: REPORT · Sublimation inkjet printer with high-gap printhead TS300P-1800 2015.7 ... plotters, etc.), we will drive the further development of digital on-demand printing,

Interim Business Report

April 1, 2019-September 30, 2019

BUSINESSREPORT

2019.9

Remains of castle 1:378 (160 hours)Southern turret 1:55 (60 hours)

3D model of Ueda Castle

Securities Code:6638

Executive Chairman Akira Ikeda

President Kazuaki Ikeda

Managing Director Kazuyuki Takeuchi

Executive Director Hiroshi Miyake

Director Yasuhiro Haba

Director Koji Shimizu

Director Nariaki Makino

Outside Director Seiko Minomo

Outside Director Ichiro Yamada

Outside Director (Audit and Supervisory Committee Member) Yoh Zenno

Director (Audit and Supervisory Committee Member) Noriyuki Tanaka

Outside Director (Audit and Supervisory Committee Member) Makoto Tanaka

Outside Director (Audit and Supervisory Committee Member) Hisamitsu Arai

Corporate ProfileCorporate Name MIMAKI ENGINEERING CO., LTD.Foundation August 1975Capital 4,357 million yenBusinesses Development, manufacturing, and sales

of computer devices and softwareEmployees 2,023 (consolidated)

836 (parent company only)

Board Members

Ownership Breakdown

Shareholder nameNumber of shares held

(shares)Investment ratio

(%)

Ikeda Holdings, Inc. 4,497,200 15.25

Tanaka Kikaku Ltd. 2,330,000 7.90

Noriyuki Tanaka 2,026,800 6.87

Tokyo Small and Medium Business Investment & Consultation Co., Ltd. 1,524,000 5.17

MIMAKI ENGINEERING Employee Stock Ownership 1,422,400 4.82

State Street Bank and Trust Company 505019 1,304,800 4.42

The Master Trust Bank of Japan, Ltd. 1,274,200 4.32

The Hachijuni Bank, Ltd. 840,000 2.85

Adeki Partners Co., Ltd. 833,200 2.83

Epson Avasys Corporation 720,000 2.44

Stock InformationNumber of Authorized Shares 128,160,000 shares

Number of Issued Shares 32,040,000 shares

Number of Shareholders 5,408

Major Shareholders

Accounting AuditorDeloitte Touche Tohmatsu LLC

Business year From April 1 to March 31

General meeting of shareholders

Within three months from the end of each business year

Record date Annual meeting of shareholders March 31Year-end dividend March 31Interim dividend September 30, or a date announced beforehand if necessary.

Share unit 100 shares

Shareholder registry administrator

Mitsubishi UFJ Trust and Banking Corporation4-5, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-8212, Japan

Contact details for the above

Mitsubishi UFJ Trust and Banking CorporationTransfer Agent Department1-1, Nikkocho, Fuchu-shi, Tokyo, JapanTel: 0120-232-711 (toll free in Japan)

Mail address P.O. Box No. 29, Shin-Tokyo Post Office 137-8081, JapanMitsubishi UFJ Trust and Banking CorporationTransfer Agent Department

Method of public notice

Public notices are posted on our website (https://ir.mimaki.com/, in Japanese). However, if an electronic public notice cannot be given due to unavoidable circumstances, it will be published in the Nihon Keizai Shimbun.

Listings Tokyo Stock Exchange First Section

Securities code 6638

Notes:

1. For inquiries on address changes or other procedures pertaining to shares, please contact the account management institution (securities firm, etc.) with which your account is held. Please note that the shareholder registry administrator (Mitsubishi UFJ Trust and Banking Corporation) cannot handle these procedures.

2. Unreceived dividends are paid at the head office of Mitsubishi UFJ Trust and Banking Corporation.

Shareholder Information

Financial institutions

Financial instruments firms

Other Japanese corporations

Overseas corporations, etc.

Individuals and others

Treasury shares

303,461 shares (0.95%) 3,400,765 shares (10.61%)

4,066,100 shares (12.69%) 2,545,767 shares (7.95%)

10,446,701 shares (32.60%) 11,277,206 shares (35.20%)

Company Profile / Stock Information (As of September 30, 2019)

To remain as a group of innovators and to fully exploit the personal characteristics

and abilities of every employee, we began a new system with small groups called

GIPS (Group Independent Profitability management system). We also reorganized

into five divisions— Corporate Planning, Research and Development, Sales,

Production, and Administration—so that we can promptly identify potential market

needs and provide solutions.

With GIPS every group will now have a clear role and responsibilities and will

work cooperatively as if each group were an independent small factory.

The added value as the “fruit” of the activities of each group will be made

clear, and in order to improve the profitability of their own division, all members of

the group (centered on a leader) will share issues and ways to resolve them.

Through these activities, all employees will participate in

management and everyone will have efficiency in mind. In this

way, we are looking to make our company an aggregate of

“small fruits like a cluster of grapes.”

ManagementVision

MIMAKI develops new organization and corporate image

1 2 3 4

We aim to be a market leader in digital on-demand production by developing market-oriented products with our proprietary raster technology (for inkjets, etc.) and vector technology (for cutting plotters, etc.)

We aspire to become a “Development-oriented Enterprise” with our own technology and our own brand of products throughout the world

We aim to become a company that can adapt and quickly provide our products that will satisfy the customers

We strive to become an innovator always providing “something new, something different” in the market

We aim at creating a corporate culture where our individual employees can exploit their personal characteristics and abilities to the fullest extent

Akira IkedaExecutive Chairman

Kazuaki IkedaPresident

Management Policy

1 2

1987 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 20112010 2012 20131996 2014 2020/3 (forecast)2016 2017 2018 20192015

SGTA SG

SG

IP IPIP TA IPTA

3DSG

TA

World’s first Inkjet printer using water-based pigment ink

JV-1300

World’s first Inkjet printer using UV-curable white ink

UJF-605C

2004.3

World’s first Low-cost desktop UV LED curable inkjet printer

UJF-3042

2010.2

Industry’s lowest-cost Large flatbed UV LED curable inkjet printer

JFX200-2513

2013.12

World’s first Sublimation inkjet printer with high-gap printhead

TS300P-1800

2015.7

World’s first Direct textile inkjet printer with high-gap printhead

Tx300P-1800

2015.12

Water-based sublimation transfer inkjet printer

TS55-1800Large flatbed UV LEDcurable inkjet printer

JFX200-2513EX

2019.3 2019.5

World’s first High-definition, low-cost Eco-solvent inkjet printer

2002.9

JV3-130S

2017.11

Print & cut inkjet printerusing UV-curable ink

Hybrid digital textile printer

Next-generation inkjet printerusing Eco-solvent inkUCJV300-160/

150-160 3DUJ-553

World’s first Piezoelectric textile inkjet printer

1998.10

Tx-1600S

World’s first Cutting plotter using the eccentric cut method

1987.3

1996.10

MF-220C

World’s first UV LED 3D inkjet printer capable of full-color modeling using more than 10 million colors

2017.11

As a market leader in digital on-demand production, we will continue to create new markets and customers

by identifying diverse needs promptly and accurately and by providing products that target these needs.

65,000

60,000

55,000

50,000

45,000

40,000

35,000

30,000

25,000

20,000

15,000

10,000

5,000

0

Net sales(millions of yen)

The history of MIMAKI: Continual innovation

TASG

Tx300P-1800Mk ⅡJV300-130Plus

NEW

NEW

NEW

2019.9 2019.11

PrintersFull range of products that meet the needs

of every market

InksWide range of original

functional inks suitable for a range of printing purposes

SoftwareSoftware that expands

the possibilities of products

Cutting plottersProduct lineup based

on a track record over 30 years of sales

ManufacturingResearch andDevelopment Sales Technical and

Maintenance Service

Comprehensive proposals to meet market needs

Customer (end-user) needs

Providingsolutions

Quickly meeting customer needs

MIMAKI is a development-driven company that provides integrated services through the development,

manufacturing, sales, and maintenance service of products, such as industrial inkjet printers, cutting plotters,

and inks. Using our proprietary raster technology (for inkjets, etc.) and vector technology (for cutting

plotters, etc.), we will drive the further development of digital on-demand printing, seeking to become a

development-driven company whose products provide satisfaction to customers.

Diversified small-lot production Shifting to higher added value for production items

Lead time reduction

Cost reduction

Just in time Inventory reduction Environmental management

Building an e-commerce environment (retail)Labor-saving / Unattended operation

SG IP TA

Business Outline

3 4

Providing products for three markets and developing the FA businessGrowing markets by always providing products optimized for every customer in every market

SG

Sign Graphics Textile & Apparel

Industrial Products Factory Automation

Creating a variety of visual

communication materials

for business use, such

as advertisements and

signboards including large

posters, car wrappings,

soft signs, and display

panels

Meeting growing needs in

the furniture industry as

well as the fast fashion

and sportswear industry,

with items such as cloth

before sewing (textiles)

and ready-made clothes

(apparel)

Printing for gifts, novelty

i t ems , cu s t om-made

g o o d s f o r g e n e r a l

consumers, and industrial

p r o d u c t s i n c l u d i n g

instrument panels for

automobiles and control

panels for household

electrical appliances and

others

Developing five businesses

based on vector and

mechatronic technologies

Main printing materials Main printing materials

Main printing materials

• PVC sheeting • banner sheeting• window film, etc.

• plastic • acrylics • glass• metal • wood, etc.

I P

TA

• polyester • rayon• cotton • silk

FA

FA equipment

PCB mounting equipment

Semiconductor production equipment PCB inspection equipment

Metal processing

Examples of applications



Markets and the FA Business

5 6

OtherSpare parts, others

Development of the spare partsand peripheral businesses

Annual salesGrowth rate5 -10%

3.0 “Something new, something different”

Until now, our management vision has been expressed as “something new, something different.” Using this slogan helped us to create the industrial inkjet printer market by developing, manufacturing, and selling innovative products. Going forward, by continuing to provide optimal solutions to customers in every market, we aim to be a “truly global company” with annual sales of at least 100 billion yen.

Global development of niche markets

FA business

Proposals for digital transformations

TA market

Expansion of markets by enabling integration with production lines, etc.

IP market

Development of sales channels for 3D printers

Expansion of market share with environmentally friendly products, inks

SG market

20.0

10.0

100billion yen

30.0

40.0

7.1

56.4

4.7

6.3

15.4

22.7

7.1

55.4

5.61.6

17.0

23.9

6.9

52.4

6.0

16.9

22.5

5.5

48.3

5.6

16.2

20.8

4.947.8

5.3

14.6

22.7

4.646.6

5.7

12.5

23.7

Sign GraphicsAdvertisements and signboards

SG

Textile and ApparelFabrics and clothing

TA

Factory Automation Transportation equipment, etc.

FA

Industrial ProductsIndustrial products, promotional products, 3D

I P

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019(forecast)

In four to six years

(Unit: billions of yen)

During the first half of the fiscal year, revenue rose but profit declined, with net sales increasing by 3.4% year on year to 27,363 million yen, and operating profit declining by 63.7% year on year to 551 million yen. Looking at results by market, sales in the Sign Graphics (SG) and the Industrial Products (IP) markets declined, but there were higher revenues in the Textile & Apparel (TA) market. In addition, the Factory Automation (FA) business of the Alpha Design Group, acquired through an M&A in October 2018, was added to the accounts. In the SG market, the UV-curable inkjet printer UCJV series maintained its competitiveness, but conversely there was a decline in net sales for the JV series, which uses solvent inks. In the IP market, sales of the new JFX200-2513EX, a large-format model launched in May, have been strong, but the mainstay UJF series, consisting of smaller products, recorded a decline in net sales. In the TA market, the new TS55-1800 that went onto the market in March drove up revenues. Note that the “FA business” is a general term for the operations undertaken by the Alpha Design Group, which consist primarily of factory automation equipment and PCB mounting equipment. Because the FA segment was consolidated in the fourth quarter of the previous fiscal year, revenue increased for the first six months of the current fiscal year. Looking at net sales by region, the yen appreciated more than expected against the euro, and conditions in Europe were difficult due to economic stagnation in the major countries, but other regions were generally solid. In China in particular, where our market share had until now continued to shrink, rebuilding our sales channels is finally showing results, and revenue has begun trending upward. Moreover, the North American, Japanese, Asian, and Oceania markets remained favorable. The following four factors accounted for the majority of the decline in profit: 1. falling profitability in the SG and IP markets as a result of intensifying competition; 2. delays in controlling expenses that should move in line with net sales; 3. deteriorating profitability in the FA segment following fewer orders received; 4. appreciation of the yen against the euro and against the currencies of developing countries, resulting in lower profit margins.

Our consolidated forecasts for the year ending March 31, 2020 (the current fiscal year) have been revised downward: net sales of 56,450 million yen (down 1.8% year on year) and operating profit of 1,450 million yen (down 51.8% year on year). The main reason for the

On behalf of MIMAKI Engineering, I offer my heartfelt appreciation for the continued support of

our shareholders. I would like to take this opportunity to extend our deepest sympathies to those

affected by the torrential rains and typhoons, and to offer our sincere prayers for the speedy

recovery of the communities hit by these disasters. Below we provide a report on the state of

business during the first half of our 45th term (from April 1, 2019 to September 30, 2019).

Kazuaki IkedaPresident, MIMAKI ENGINEERING CO., LTD.

Overview of the first half of the fiscal year ending March 2020 forecast revision was a review of our plans that took into account both recent trading conditions and market trends going forward. Assumptions for the euro exchange rate in the second half were also been revised to reflect the strength of the yen (1€ = 122 yen → 117 yen). For the third quarter and beyond, we have positioned the following as important management issues: 1. For the SG and IP markets, we will roll out sales promotion strategies centered on highly competitive products, while at the same time implementing initiatives to develop new products. 2. We will work to control expenses in a way that corresponds to the rise and fall of net sales. 3. In the FA segment, we will strive to increase both sales and profitability. 4. We will take steps to reduce our sensitivity to forex (foreign exchange) fluctuations, by increasing, over the medium term, the production of ink in the regions where it is consumed. In the current fiscal year, we are assuming a difficult business environment, but there has been no change to our goal of achieving 100 billion yen in annual sales over the medium term. The Company is not only promoting a simple conversion from “analog” to "digital,” but is also proposing the “digital transformation” of production sites, which includes the digitalization of the value chain, in order to maintain our growth path.

Typhoon Hagibis caused widespread flood damage in the Chikuma River basin. As our major buildings, such as our head office and factories, are set up in the Chikuma River area, there was enormous concern expressed by our shareholders. Although there was some minor damage to property and a temporary disruption of supply chains, fortunately there was no loss of life, or flood damage, and I am able to report that there were absolutely no problems in the operation of our business. Also, the warm words of support expressed at the time of the disaster by our stakeholders, including shareholders, have been a source of great reassurance. I offer my sincere gratitude to all those mentioned above. With natural disasters on the increase all over the world, I feel ever more keenly the importance not only of growing the business, but also of doing this sustainably by taking the initiative to conserve and to protect the global environment. I believe that implementing a resource recycling management and technology, based on accurately identifying the previously mentioned “digital transformation,” is one way of responding to shareholders’ expectations. I would be most grateful for your continued guidance and encouragement.

Message to shareholders

Outlook for the fiscal year ending March 31, 2020 and our vision

Growth StrategyMessage from Top Management

7 8

Businesslocationsin Japan

Groupsubsidiaries

SalesBases

Alpha Automation Technology (Shenzhen) Co., Ltd. (China)

Head Office2182-3 Shigeno-Otsu, Tomi-shi, Nagano 389-0512, Japan

Kazawa Factory1333-3 Kazawa, Tomi-shi, Nagano 389-0514, Japan

Nagano Development Center520-1 Kitanagaike, Nagano-shi, Nagano 381-0025, Japan

Hachioji Development Center593-6 Kitano-machi, Hachioji-shi, Tokyo 192-0906, Japan

JP Demonstration Center6F, TOC Bldg., 7-22-17, Nishigotanda, Shinagawa, Tokyo 141-0031, Japan

Tokyo, Osaka, Sapporo, Sendai, Nagano, Yokohama, Saitama, Nishi-Tokyo, Kitakanto (Utsunomiya), Kanazawa, Nagoya, Kyoto, Kobe, Hiroshima, Shikoku (Takamatsu), and Fukuoka

Main branch of subsidiary

Dalian Alpha Design Co., Ltd.(China)

Shanghai Mimaki Trading Co., Ltd.(China)

MIMAKI IJ TECHNOLOGY CO., Ltd.(China)

MIMAKI Lithuania, UAB(Lithuania)

MIMAKI EUROPE B.V.(The Netherlands)

Mimaki Bompan Textile S.r.l. (Italy)

Mimaki Deutschland GmbH(Germany)

Mimaki La Meccanica S.p.A.(Italy)

MIMAKI EURASIA DIJITAL BASKI TEKNOLOJILERI PAZARLAMA VE TICARET LIMITED SIRKETI (Turkey)

MIMAKI (THAILAND)CO., LTD.(Thailand)

MIMAKI AUSTRALIAPTY LTD(Australia)

MIMAKI INDIA PRIVATE LIMITED(India)

MIMAKI SINGAPORE PTE. LTD.(Singapore)

PT. MIMAKI INDONESIA(Indonesia)

MIMAKI BRASIL COMERCIOE IMPORTACAO LTDA(Brazil)

MIMAKI ENGINEERING(TAIWAN) Co., Ltd.(Taiwan)

MIMAKI USA, INC.(U.S.A.)

ALPHA DESIGN CO., LTD.(Japan)

ALPHA SYSTEMS CO., LTD. (Japan)

Tonami Corporation Ltd. (Japan)

MIMAKI PRECISION Co., Ltd.(Japan)

GRAPHIC CREATION Co., Ltd.(Japan)

LUCK’A Inc. (Japan)

Network

9 10

2001

2002 2004

20052003

2003

2004

20022005

2007

2006

1999

1985

1989

1993

1994

1995

1997

1986

1988

1991

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1987

1999

2000

1996 1998

2000

2008

2008

2009

2010

2011

2012

2013 2017 2019201520112010

2006

2009

2016

2017

TS500P-3200Dye Sublimation Inkjet Printer

February

TS30-1300Dye Sublimation Inkjet Printer

March

UJV55-320UV LED Curable Inkjet Printer

April

MM700-1800BDirect Textile Inkjet Printer

May

Tiger-1800BDirect Textile Inkjet Printer

September

September

September

Mimaki Profile Master 3Color Management System

July

UJF-3042Mk UV LED Curable Flatbed Inkjet Printer

October

UJF-6042Mk UV LED Curable Flatbed Inkjet Printer

October

JFX200-2531Large-Format UV LED Curable Flatbed Inkjet Printer

November

UCJV300-160UCJV150-160New Technology UV LED CurableInkjet Printer Using UV-curable Ink

November

3DUJ-553The World’s First UV LED Curable 3D Printer Capable of Full-color Modeling Using More Than 10 Million Colors

November

JV300-190Solvent Inkjet Printer

CJV300-130/160PlusPrint & Cut Inkjet Printer

JV300-130/160 PlusLarge-Format Inkjet Printer Using Eco-Solvent InkDecember

Tx300P-1800BDirect Textile Inkjet Printer

December

March

UJF-605CFlatbed UV-Curable Inkjet Printer

October

CG-75ML+JV3-75SPPrint & Cut Combination

December

CF2 SeriesFlatbedCutting Plotter

March

UJV-110Roll-Fed UV-Curable Inkjet Printer

June

JV22-130/160Full-Color Inkjet Printer

June

JV3-160SPSolvent Inkjet Printer

October

JV3-75SP /130SPSolvent Inkjet Printer

October

Tx3-1600Digital Textile Inkjet Printer

April

CG-160FXCutting Plotter with High-SpeedCrop-Marker Sensor

June

Fine Cut for CorelCutting Softwarefor Corel Draw

June

CG-130FXCutting Plotter with High-SpeedCrop-MarkerSensor

January

CG-50High-Speed Cutting Plotter

November

CG-100SDHigh-Speed Cutting Plotter

February

HF-500Heat Pen Cutting Plotter

January

CG-6/9/12Low-Cost Cutting Plotter

January

Vector LinkCutting Software for PS(Mac OS)

January

ZusakuGravestone DesignSupport System

April

NC-5Modeling Machine

July

My BrainEngraving System

August

CG-51/61/101/121Low-Cost Cutting Plotter

March

ME-500Engraving Machine

December

MI POPPOP Making System

December

IttoboriSoftware for CuttingGravestone CharacterMasking Sheets

December

VestaCutting Software

October

CAM LINKCutting Data Conversion Software

January

CG-100AP1-Meter-Width ApparelPattern Cutting Plotter

March

My Brain VehicleCutting System forCar Film

May

CG60/100/130EXCutting Plotter withCrop-Marker Sensor

November

CF-0912/1215Large-Format FlatbedCutting Plotter

October

JV-1300Full-Color Inkjet Printerwith Water-BasedPigment Ink

October

Raster LinkSoftware RIP for PS2

April

JV2-130Full-Color Inkjet Printerwith Six-Color Pigment Ink

November

JV2-180Large-FormatFull-Color Inkjet Printer

October

Tx-1600SDigital TextileInkjet Printer

MF-220CA2 Flat Cutting Plotter

June

CG-45Desktop Cutting Plotter

October

CG-60/90For overseas:Cutting Plotter

October

CG-90SDCutting Plotter

January

CG-120Cutting Plotter withAuto-Roll Feeder

June

MC-300SDesktop Cutting Plotter

September

CF-120120-cm-WidthFlatbed Cutting Plotter

November

CG-90APApparel PatternCutting Plotter

December

March

CF-70A1 FlatbedCutting Plotter

December

CG-60StDesktop Cutting Plotter

November

TX LinkSoftware RIPfor Textile Printing

June

CG-100/130LxHigh-Speed Cutting Plotter

January

Fine CutPlug-In Cutting Softwarefor Illustrator

June

CFR-1220Reciprocal Cutter

February

MF-120A2 Flat Pen Plotter[Hokusai]

July

MG-110A1 Pen Plotter[Hokusai]

May

MR-11Thermal Plotter

January

MX-340/360/390Low-Cost Pencil Plotter

November

MR-1600LED Plotter A1 Version

May

MR-1900LED Plotter A0 Version

March

JP-560/590MonochromeInkjet Plotter

December

JP-660/690CFull-Color Inkjet Plotter

April

MX-11/10Servo-Style Pen Plotter

July

MX-11/10PPencil Plotter

April

MX-760/790High-SpeedPencil Plotter

June

JV4-130/160/180Large-Format Full-Color Inkjet Printer

January

DM2-1810Flatbed Inkjet Printer

April

JV3-250SPSuper-Wide Solvent Inkjet Printer

November

GP-604Garment Printer

September

JV3-130S/160SSolvent Inkjet Printer

October

Raster Link ProSoftware RIP for PS3

August

Tx2-1600Digital Textile Inkjet Printer

MarchGP-604DGarment Printer

AprilUJF-605RRoll-Fed UV-Curable Inkjet Printer

MayJV3-250SPFSuper-Wide Solvent Inkjet Printer

August

Raster Link ProSoftware RIP for PS3

OctoberGP-1810DGarment Printer

NovemberDS-1600/1800Direct Dye Sublimation Printer

DecemberJV3-130SLSolvent Inkjet Printer

January

IPF-1610B/1610B-UIndustrial Flatbed UV-Curable Inkjet Printer

February

UJF-3042UV LED CurableFlatbed Inkjet Printer

February

Tx400-1800BDigital Textile Inkjet Printer with Adhesive Belt Carrier System

March

JV34-260Super-Wide-Format Inkjet Printer

February

UJF-3042HGUV LED CurableFlatbed Inkjet Printer

March

JV400-130/160LXLatex Inkjet Printer

April

Raster Link Pro5 SG/IP/TASoftware RIP for PS3

July

Mimaki Profile MasterColor Management System

August

CJV30-60/100/130/160Printer Cutter

August

Raster Link Pro4 SG/IP/TASoftware RIP for PS3

September

UJV-160Hybrid UV LED Curable Inkjet Printer

January

CF3-1631/1610Flatbed Cutting Plotter with Router Head

August

Simple StudioPrint & Cut Application Software

October

Tx400-1800DDigital Textile Inkjet Printer

December

UJF-706Flatbed UV-Curable Inkjet Printer

May

JFX-1631Large-Format UV LED CurableFlatbed Inkjet Printer

March

CG-75/130/160FXMulti Cutting Plotter

August

APC-130Large-Format CAD Cutting Plotter for Apparel

January

JV5-320DSDirect Printing / Dye SublimationGrand-Format Inkjet Printer

TS34-1800ADye Sublimation Printerfor Sports Apparel

November

November

JFX-1631plusLarge-Format UV LEDCurable Flatbed Inkjet Printer

November

JFX-1615plusLarge-Format UV LED Curable Flatbed Inkjet Printer

April

TS500-1800Ultra-High-SpeedDye SublimationInkjet Printer

May

JV400-130/160SUVSolvent UV Inkjet Printer

May

SWJ-320S2/320S4For emerging nations:Grand-FormatSolvent Inkjet Printer

June

Tx500-1800DSDirect Printing SublimissionInkjet Printer

May

RasterLink6IJP Software

September

UJF-3042FXUV LED Curable Flatbed Inkjet Printer

April

High-Quality Cutting Plotter

CG-60/100SRNovember

Flatbed Cutting Plotter

CF22-1225

Multi Cutting Plotter

CG-75/130/160FX Plus

February

Small Flatbed Cutting Plotter

CFL-605RTJuly

Packing Design CAD Software

ArtiosCAD DS

January

Mimaki ProfileMaster Color ManagementSystem

January

UJF-605CFlatbed UV-CurableInkjet Printer

August

UJF-605RRoll-Fed UV-Curable Inkjet Printer

September

Raster Link Pro /IP /TASoftware RIP Compatible with PS3

June

JV5-130S/160SUltrahigh-SpeedSolvent Inkjet Printer

December

JF-1610/1631Large-Format Flatbed UV-Curable Inkjet Printer

October

CG-60SRDesktop Cutting Plotter

March

Simple CutCutting Application Software

November

CG-60SLFor overseas:Low-CostDesktop Cutting Plotter

August

JV33-130/160Solvent Inkjet Printer

August

JV5-320SGrand Format Solvent Inkjet Printer

February

TPC-1000Printer Cutter for Sports Apparel

February

TS3-1600Dye Sublimation Inkjet Printer for Sports Apparel

February

TS5-1600AMFDye Sublimation Inkjet Printer for Sports Apparel

February

JV33-260Super-Wide Solvent Inkjet Printer

May

CG-100SRHigh-Quality Cutting Plotter

October

FineCut8Plug-In Cutting Software

Inkjet Printers

Cutting Plotters

Drafting Plotters

2014

2015

2018

2013


June

SIJ-320UVUV LED Curable Inkjet Printer

April

Mimaki Target Color EmulatorColor Management System

February

TS300P-1800Dye Sublimation Inkjet Printer

July

UJF-7151 plusUV LED CurableFlatbed Inkjet Printer

November

TxLink3IJP Software

June

UCJV300-75/107/130Print & Cut Inkjet Printer Using UV-Curable Ink

July

Tx300P-1800Direct Textile Inkjet Printer

December


October

CJV300-130/160Printer Cutter

October

CJV150-75/107/130/160Printer Cutter

October

September

JFX500-2131Large-Format UV LED Curable

Flatbed Inkjet Printer

December

UJF-6042UV LED Curable Flatbed Inkjet Printer

April

UJV500-160UV LED Curable Roll-to-Roll Inkjet Printer

Tx500-1800BDigital Textile Inkjet Printer with Adhesive Belt Carrier System

October

JFX200-2513December

Large-Format UV LED CurableFlatbed Inkjet Printer

Tiger-1800B MkInkjet Printer with Adhesive Belt Carrier SystemDirect Textile Model/Dye Sublimation Model

July

2019■March

TS55-1800Water-Based Sublimation Transfer Inkjet Printer

■May

JFX200-2513EXLarge Flatbed UV LED Curable Inkjet Printer

■November

Tx300P -1800MkHybrid Digital Textile Printer

Product Development History

11 12

Our 3D Full-Color Model and Model ing Method (patent no. 6261363) was a w a r d e d t h e N a g a n o Prefectural Governor’s Prize at the 2019 Kanto Region Commendation for Invention Awards, held by the Japan Ins t i tute of Invention and Innovation.

These next-generation products help reform workstyles and reduce the burden on the environment by adding new technology to that which already exists, hence the “Plus” label. We have added the new ID Cut function for continuous automated cutting and a new Ethernet connection for data to be sent to the printer over a network cable. These labor-saving features improve efficiency. In addition, the JV/CJV300-130 Plus adopts an environment-friendly ink cartridge system. By reusing the plastic casing and replacing only the ink pack, this system both helps conserve the env i ronment by reduc ing the amount of p last ic used and i t reduces the unit price of the ink.

I n Augus t 2019 , M IMAK I donated a model of the ruins of Ueda Castle and the southern turret created using our 3D inkjet printer 3DUJ-553 to the city of Ueda in Nagano Prefecture. The model is on display in the Ueda City offices, and is shown at events and by educational institutions to raise awareness of Ueda Castle.

MIMAKI exhibited at the Sign & Display Show 2019 held in August 2019 at Tokyo Big Sight. We offered workflow proposals for production using i nk j e t p r i n t e r s and pos t -processing equipment linked to inkjet printers, and conducted demonstration seminars on car wrapping twice a day.

In September 2019, the Shinshu Ueda Sanada Ninja Festival was held in Ueda City, Nagano P r e f e c t u r e . T h i s f e s t i v a l , helping to revitalize the local community and strengthen social ties, allowed elementary schoolchildren to experience the world of the ninja.

Large-format auto trimmers for safe and efficient tr imming operations, such as cutting signage and POP as well as edging after lamination. Because trimming can be performed by hitting a single switch, the risk of injury to the operator is l e s sened and e f f i c i ency i s improved.

A hybrid textile inkjet printer that prints on both fabric and paper. By using two different types of ink simultaneously, it can be used for a wide range of applications, such as fashion apparel and wallpaper, just by making the switch to the other type of conveyance unit.

1975 August MIMAKI ENGINEERING was founded as a private limited company.

1981 May Reorganized into a stock company, MIMAKI ENGINEERING Co., Ltd.

1983 December Started development of the A2 flatbed pen plotter (RY-1003) for OEMs.

1985 February Started sales of the A2 flat pen plotter under the Hokusai brand.

1986 March Started operation of the Kazawa Factory.

1995 July Founded MIMAKI ENGINEERING (TAIWAN) Co., Ltd.

1999 January Received ISO 9001 certification.

September Founded MIMAKI USA, INC.

2003 October Opened the Nagano Development Center.

2004 April Founded MIMAKI PRECISION Co., Ltd.

April Founded MIMAKI EUROPE B.V.

September Acquired Bokuya Factory in Tomi-shi, Nagano Prefecture.

2005 April Opened the Technical Call Center.

2006 April Acquired GRAPHIC CREATION Co., Ltd. as a subsidiary.

August Relocated the Head Office to Shigeno-Otsu, Tomi-shi, Nagano Prefecture.

2007 March Listed on the JASDAQ Securities Exchange.

December Founded MIMAKI IJ TECHNOLOGY CO., Ltd.

2008 July Acquired Mimaki Deutschland GmbH as a subsidiary.

2009 January Received ISO14001 certification.

June Founded Shanghai Mimaki Trading Co., Ltd.

2010 August Founded MIMAKI PINGHU TRADING CO., LTD.

2011 November Founded PT. MIMAKI INDONESIA.

2013 April Founded MIMAKI AUSTRALIA PTY LTD.

April Founded MIMAKI SINGAPORE PTE. LTD.

July Founded MIMAKI INDIA PRIVATE LIMITED.

2015 March Moved our shares to the Tokyo Stock Exchange First Section.

May Opened the Hachioji Development Center.

Corporate History

SGBegan sales of the JV300-130 Plus, CJV300-130 Plus and CG-130FX Plus

TABegan sales of Tx300P-1800 Mk Began sales of the large-format auto trimmer AT Series

Exhibited at Sign & Display Show 2019

Model of Ueda Castle donated to Ueda City

Awarded the Nagano Prefectural Governor’s Prize at the Kanto Region Commendation for Invention Awards

Hosted the Shinshu Ueda Sanada Ninja Festival

SG

Launched in September 2019

Launched in October 2019 Launched in November 2019

MIMAKI News Flash

13 14

On October 12, 2019, our 3D printing technology was featured on the TV Tokyo Group’s “Jiman shitai hito ga imasu-haikei hinekure three-sama” TV program, which is broadcast from 22:30 to 23:00 every Saturday. The world’s first full-color 3D printer and the outlook for the future were the subject of a special feature, and 3D models of Hashima “Battleship” Island and Kumamoto Castle made with our printer were shown.

2017 February Founded MIMAKI Lithuania, UAB.

June Founded Mimaki Bompan Textile S.r.l.

2018 October Acquired ALPHA DESIGN CO., LTD as a subsidiary.

November Acquired LUCK'A Inc. as a subsidiary.

2019 March Founded MIMAKI (THAILAND) CO., LTD.

2015 July Opened Shigeno Showroom in Tomi-shi, Nagano Prefecture.

2016 April Founded MIMAKI EURASIA DIJITAL BASKI TEKNOLOJILERI PAZARLAMA VE TICARET LIMITED SIRKETI

July Opened the JP Demonstration Center.

JulyOpened the TA and IP Lab Center.

August

October Acquired Mimaki La Meccanica S.p.A. as a subsidiary.

Held IR events aimed at individual investorsSupported the FabCafe exhibition

Started online presentation meetings to explain the Company

In October 2019, we held an online presentation meeting to explain the Company, hosted on the website of SBI Securities. This was the first such meeting held to provide an opportunity for domestic investors throughout Japan to gain a deeper understanding of the Company’s business.

1. Did you previously know the Company?

I knew the details of its business

60%

I would like to add to my positionI will maintain my position

ShareholdersNon-shareholders

Non-shareholdersShareholders

39%

I would like to buy sharesI will consider buying shares

42%

I would like to sell my position

6%

I do not wish to buy shares

13%

40%

I only knew the name of the Company

2. Your view of investing in the Company

MIMAKI supported the Exhibition for 3D Printing of Both Transparency and Color-Nobuaki Fukui Vivid Color Model Exhibition, held from August to September 2019 at FabCafe Tokyo. This was one of the largest domestic exhibitions of full-color 3D-printed models for a single artist, with works showing compelling stories brought to life using our full-color 3D-printing technology. The glass and organisms floating in the sea were vividly represented using MIMAKI’s technology.

In June, September, and October 2019, we held presentation meetings to explain the Company to individual investors. During the Q&A sessions, we responded to a variety of questions and heard a number of opinions from individual investors. Here are some of the results taken from a questionnaire distributed after the meeting.

Distribution date/time: October 31, 2019 to January 31, 2020How to view: The presentation can be viewed by accessing “Seminars” on the SBI Securities website.

Subject of a special feature on the TV Tokyo Group’s “Jiman shitai hito ga imasu - haikei hinekure three-sama” TV program

HOPBOX Nobuaki Fukui

Videotaping the programSample 3D model of Hashima “Battleship” Island

In addition to the latest information and news, our corporate website provides visitors with a deeper understanding of the business, products and services of MIMAKI ENGINEERING. Please have a look.

You may access it here

Official SNS can be found here (Japanese only)

https://ir-eng.mimaki.com/

The QR code to the right may be used for access by cellular phones and smartphones.Corporate Website

https://www.facebook.com/mimakiengineering/Facebook

https://www.youtube.com/user/MimakiPR/videosYouTube

https://www.instagram.com/mimaki_japan/InstagramCompany/IR site top page IR Library

2016

MIMAKI News Flash

15 16

Full yearFirst half-year




2020.3 2020.3 2020.3 2020.3

27,363

56,450(forecast)

2019.3

26,455

55,448

551

1,450(forecast)

2019.3

1,520

3,008

449

1,150(forecast)

2019.3

1,225

2,643

181

350(forecast)

2019.3

769

1,680

2018.32017.3

22,885

48,331

25,174

52,471

2018.32017.3

1,1191,110

2,0492,729

2018.32017.3

939

1,746

1,004

2,359

2018.32017.3

388

1,250920

1,833





2020.3 2020.3 2020.3 2020.3

27,363

56,450(forecast)

2019.3

26,455

55,448

551

1,450(forecast)

2019.3

1,520

3,008

449

1,150(forecast)

2019.3

1,225

2,643

181

350(forecast)

2019.3

769

1,680

2018.32017.3

22,885

48,331

25,174

52,471

2018.32017.3

1,1191,110

2,0492,729

2018.32017.3

939

1,746

1,004

2,359

2018.32017.3

388

1,250920

1,833





2020.3 2020.3 2020.3 2020.3

27,363

56,450(forecast)

2019.3

26,455

55,448

551

1,450(forecast)

2019.3

1,520

3,008

449

1,150(forecast)

2019.3

1,225

2,643

181

350(forecast)

2019.3

769

1,680

2018.32017.3

22,885

48,331

25,174

52,471

2018.32017.3

1,1191,110

2,0492,729

2018.32017.3

939

1,746

1,004

2,359

2018.32017.3

388

1,250920

1,833





2020.3 2020.3 2020.3 2020.3

27,363

56,450(forecast)

2019.3

26,455

55,448

551

1,450(forecast)

2019.3

1,520

3,008

449

1,150(forecast)

2019.3

1,225

2,643

181

350(forecast)

2019.3

769

1,680

2018.32017.3

22,885

48,331

25,174

52,471

2018.32017.3

1,1191,110

2,0492,729

2018.32017.3

939

1,746

1,004

2,359

2018.32017.3

388

1,250920

1,833

Percentage of net sales by regionBusiness performance for the first half of this year ending March 2020 Percentage of net sales by product category

67.8％

32.2％43.5％

34.5％

22.0％

15.2％25.5％

17.0％

10.1％

Consolidated net sales outside Japan

Percentage of consolidated net sales

18,554 million yen

67.8%

We provide products and services to customers in

approximately 150 countries and regions

Japan

NorthAmerica Machines

Inks

Others

Europe

Asia, Oceania

Others

Overseas

SG market TA marketIP market

2020.3

8,809

2020.32020.3 2020.3

19,063(forecast)

6,973

14,266(forecast)

7,403

15,054(forecast)

4,178

8,064(forecast)

2019.3

6,587

2019.32019.3 2019.3

15,274

8,082

16,276

7,704

15,618

4,081

8,278

2018.3

6,647

2018.32018.3 2018.3

13,466

7,217

16,357

7,751

15,195

3,558

7,451





Japan

2020.3

8,809

2020.32020.3 2020.3

19,063(forecast)

6,973

14,266(forecast)

7,403

15,054(forecast)

4,178

8,064(forecast)

2019.3

6,587

2019.32019.3 2019.3

15,274

8,082

16,276

7,704

15,618

4,081

8,278

2018.3

6,647

2018.32018.3 2018.3

13,466

7,217

16,357

7,751

15,195

3,558

7,451





Asia, Oceania, and Others

2020.3

8,809

2020.32020.3 2020.3

19,063(forecast)

6,973

14,266(forecast)

7,403

15,054(forecast)

4,178

8,064(forecast)

2019.3

6,587

2019.32019.3 2019.3

15,274

8,082

16,276

7,704

15,618

4,081

8,278

2018.3

6,647

2018.32018.3 2018.3

13,466

7,217

16,357

7,751

15,195

3,558

7,451





Europe

2020.3

8,809

2020.32020.3 2020.3

19,063(forecast)

6,973

14,266(forecast)

7,403

15,054(forecast)

4,178

8,064(forecast)

2019.3

6,587

2019.32019.3 2019.3

15,274

8,082

16,276

7,704

15,618

4,081

8,278

2018.3

6,647

2018.32018.3 2018.3

13,466

7,217

16,357

7,751

15,195

3,558

7,451





North America

Business Performance: Key Points

Forecast of the Year-end Dividend for the Fiscal Year

Ending March 2020

7.5 yen per share

Net sales of products for the SG market, such as advertisements and signboards, were 11,193 million yen, down 5.9% year on year. The JV series, a mainstay product line, posted a decline in net sales, resulting in a year-on-year decline in revenue.

Net sales of products for the TA market, such as clothing, fabrics, and others, came to 2,856 million yen, up 4.5% year on year. The new TS55-1800 that went on the market in March drove a year-on-year increase in revenue.

Net sales of items for the IP market, which includes novelty items, industrial products, and others, came to 7,500 million yen, down 10.7% year on year. Net sales grew for the new JFX200-2513EX printer, but net sales of the UJF series fell, causing revenue to decline year on year.

27,363 million yenUp 3.4% year on year

Net sales

551 million yenDown 63.7% year on year

Operating profit


Ordinary profit


Profit attributable to owners of parent

Consolidated Performance Highlights for the First Half of the Fiscal Year Ending March 2020 Market Conditions by Region

11,193 million yen

Down 5.9% year on year

2,856 million yen

Up 4.5% year on year

7,500 million yen

Down 10.7% year on year

(Unit: millions of yen) (Unit: millions of yen) (Unit: millions of yen) (Unit: millions of yen)

Performance Highlights by Market for the First Half of the Fiscal Year Ending March 2020

Net sales Operating profit Ordinary profit Profit attributable to owners of parent

56,450 million yen

(Up 1.8% year on year )

1,450 million yen

(Down 51.8% year on year )

1,150 million yen


350 million yen


Forecast for Consolidated Business Performance for the Fiscal Year Ending

March 2020

(Unit: millions of yen) (Unit: millions of yen) (Unit: millions of yen)

Percentage of net sales



40.9％ 27.4％ 10.4％




40.9％ 27.4％ 10.4％




40.9％ 27.4％ 10.4％

2020.3

11,193

22,765(forecast)

7,500

15,447(forecast)

2,856

6,341(forecast)

2020.3 2020.32019.3

11,896

23,981

8,400

17,040

2,732

5,616

2019.3 2019.32017.3 2018.3

20,855

10,184 10,562

22,587

8,367

16,934

2,898

6,019

2017.3 2018.3 2017.3 2018.3

7,496

16,292

2,700

5,620




2020.3

11,193

22,765(forecast)

7,500

15,447(forecast)

2,856

6,341(forecast)

2020.3 2020.32019.3

11,896

23,981

8,400

17,040

2,732

5,616

2019.3 2019.32017.3 2018.3

20,855

10,184 10,562

22,587

8,367

16,934

2,898

6,019

2017.3 2018.3 2017.3 2018.3

7,496

16,292

2,700

5,620




2020.3

11,193

22,765(forecast)

7,500

15,447(forecast)

2,856

6,341(forecast)

2020.3 2020.32019.3

11,896

23,981

8,400

17,040

2,732

5,616

2019.3 2019.32017.3 2018.3

20,855

10,184 10,562

22,587

8,367

16,934

2,898

6,019

2017.3 2018.3 2017.3 2018.3

7,496

16,292

2,700

5,620




Net sales: 8,809 million yen Up 33.7% year on year

Due to the contribution to net sales from the Alpha Design Group, which became a consolidated subsidiary in October 2018, revenue increased s ign i f icant ly year on year . Even e x c l u d i n g t h e i m p a c t o f t h i s consolidation, revenue in Japan rose, helped by domestic events, etc.

(Unit: millions of yen)

Net sales: 4,178 million yen Up 2.4% year on year

The North American market remained favorable, and posted year-on-year growth in revenue. The reorganization over the medium term for sales channels into a regionally based network has borne fruit, and the trend for revenue growth is starting to take hold.


Net sales: 6,973 million yen Down 13.7% year on year

The European market, which until now had been growing steadily, recorded a year-on-year decline in revenue due to the strengthening of the yen against the euro as we l l a s weaken ing economies in the major countries, including Germany.


Net sales: 7,403 million yen Down 3.9% year on year

On the face of it, revenues from this region declined, but if compared on a local-currency basis, this region managed to secure year-on-year growth. In China in particular, where revenue had until recently trended downward, the rebuilt sales channels are finally showing results, and revenue has begun to rise. Asia and Oceania have maintained high rates of revenue growth.


17 18

Documents

Securities Code: REPORT · Sublimation inkjet printer with high-gap printhead TS300P-1800 2015.7 ... plotters, etc.), we will drive the further development of digital on-demand printing,