3. Compensation Film - Displaybank

6. Major Polarizer Maker Trend (Revenue/Shipment)
6.1. Nitto Denko
Report Tile: Polarizer & Optical Films
Date: 2009.06
‣ Shipment Trend
60,000
50%
50,000
39%
36%
31% 33% 34%
31%
36% 36%
30%
Ksqm
40,000
30,000
20,000
10,000
10%
-10%
-30%
0
2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
2007 2008 2009
Shipment (Ksqm) 16,002 16,382 16,107 16,019 16,733 15,943 15,407 14,815
W/W Demand 40,515 45,890 51,735 48,846 49,349 51,310 43,112 41,670
Share (Shipment/Demand) 39% 36% 31% 33% 34% 31% 36% 36%
-50%
Based on the results, we calculated approximate polarizer shipments in area basis. Polarizer price gap widens as to the method of
processing remaining scrap and it corresponds to each maker’s technological ability such that comparison is made by adjusting
into same area. The shipments in area basis is under assumption of WV polarizer manufactured in 1330mm width line. For
reference, current WV price per 1m is about JPY 3000.
Nitto Denko shipped 47 mil. square meter in 2006, 61 mil. square meter in 2007 and 64 mil. square meter in 2008. For each
quarter, Nitto Denko has secured over 30% of global demands.
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