Macronix’s 3Q18 inventory was NTD17.16bn, increased by NTD2.863bn QoQ. Regarding the proportion of the inventory, Flash and ROM accounted for 40% and 60% respectively. Its largest inventory is still in Nintendo product segment.
Catalyzed by peak season for ROM shipment, its Oct18 revenue hit a year high. However, due to the news of Nintendo’s pull-in implied more optimistic outlook but the terminal demand declined, Macronix’s NOV18 ROM shipment was weaker-than-expected and decreased by 20% MoM. Its Dec18 revenue was reduced by 30% MoM, indicating that Nintendo's shipment momentum was indeed affected by the US-China trade war, and its 4Q18 peak season failed to materialize.
The legal person pointed out that since Macronix 's inventory still maintains a certain level, the company may recognize inventory write-off loss in 4Q18 and write-back of inventory impairment provision after inventory digestion. On the other hands, the patent dispute between Macronix and Toshiba has ended. Toshiba has to pay Macronix USD80mn. It is expected to contribute to Macronix’s 4Q18 EPS to achieve NTD1.4.
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