Presentation Transcripts
Latest Update : Nov.19, 2010
Back to Financial Results (FY3/2011)
Investor Meeting Presentation for 2Q FY 3/2011 held on November 2, 2010
- Cover
- Table of Contents
- Financial Results
- Summary of Consolidated Business Results for 1H
- Summary of Consolidated Business Results for 2Q
- Net Sales
- Operating Income
- Machined Components Business
- Rotary Components Business
- Electronic Devices & Components Business
- Other Business
- Net Income
- S.G. & A. Expenses
- Inventories
- Capital Expenditure & Depreciation
- Net Interest-Bearing Debt
- Forecast for Fiscal Year Ending March 31, 2011
- Policy and Strategy
- Review of Business Strategy for the First Half of FY Ending March 2011
- First Half Results Beat Initial Projection
- Ball Bearing Operations at Full Capacity
- Ball Bearings Strategies for Chinese Market to Be Resumed
- LED Backlight Business
- Brushless DC Motor Business
- Profitability improvements in Keyboard/Speaker Businesses
- Quickly boost sales of EMS products
- Examples of Hybrid Products
- COOL LEAF Finally Makes Market Debut !!
- HDD Market Trend
- Profitability improvements in Spindle Motor Business
- Pivot Assemblies
- Sluggishness in Some Motor Products
- Relative Stock Performance
- Medium-term Business Plan Progress (Toward FY Ending March 2012)
- No Change in Targets
- Ball Bearing Business Remains Steady
- Rod-end Production to Exceed Past High
- LED Backlight Operations to Expand Further
- Overhauling Profit Structure of the Rotary Components Business
- Quantity as Benchmark for Rotary Components (1)
- Quantity as Benchmark for Rotary Components (2)
- Information Motor Business to Expand
- Considering expansion into Cambodia (1)
- Considering expansion into Cambodia (2)
- Goals Set for FY Ending March 2012 within Reach
- Financial Strategies
- Review of Business Strategy for the First Half of FY Ending March 2011
- Forward-looking Statements
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Despite all the upsides, there were some significant downsides that brought our first fiscal half earnings lower. In addition to the slow recovery of the HDD spindle motor business, the rotary components business suffered sluggish performance due to the poor sales performance of some of our motor products.
Losses widened for brush DC motors, vibration motors and precision motors as well. Lackluster sales of vibration motors were simply due to the drop in production yield triggered by the launch of a new product for a large customer, which generated a loss of almost 100 million yen per month. This is a setback due to an isolated incident, and earnings will improve once the production of that particular product ends.
The deficit in brush DC motors was due to the appreciation of the ringgit, the currency of Malaysia where our production operations are based, as well as a delay in our new S series products.
The performance of precision motors, which are mainly used in automobiles, is still reeling from the impact of the sluggish sales and R&D activities we experienced a few years ago. New product launches for the automobile industry always take time. I will explain more about how these motor products will do later on.
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