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November 16, 2009

Improvement in financial management levels in response to the recent business recovery

DISCO Corporation (Headquarters: Ota-ku, Tokyo; President: Kazuma Sekiya) has determined to raise its internal financial management level responding to the recent improvement in our business environment.

Background
In order to cope with the deteriorating world economy starting in fall 2008, DISCO had been managing at the most severe of the six levels of expenditure control rules (our so called "level F"), but decided to raise the expenditure control level by one to "level E" in September 2009, corresponding to the economic upturn.
News Link: https://www.disco.co.jp/eg/news/corp/20090917.html

Now, the business environment around DISCO is beginning to show even clearer signs of a turnaround, such as the improvement in capac
ity utilization of semiconductor manufacturers and expansion of capital investment for LED. Together with the upward trend of our profitability, DISCO has determined to further ease the control level to "D."
Guidelines of the Financial Management Levels

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Except for the expenses directly related to the provision of products and services to DISCO customers, DISCO should spend money only on activities whose necessity and effect can be clearly explained.

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Each division should exhaustively examine the expenses paid.

Major Impact of this Decision
Transfer of a part of the approval authority for business trips and others from the President to the Division General Managers.
Financial Management Levels
DISCO defines financial management levels from A to F corresponding to the forecasted ordinary profit margin in order to encourage autonomous management by each division.
DISCO is implementing a partial alleviation of its expenditure control, but will continuously work for proper management of expenses in order to obtain the full recovery of its business.
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