Presentation Transcripts
Latest Update : Nov.21, 2016
Back to Financial Results (FY3/2017)
Investor Meeting Presentation for 2Q FY 3/2017 held on November 2, 2016
- 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
- Electronic Devices & Components Business
- Net Income
- S.G. & A. Expenses
- Inventories
- Capital Expenditure & Depreciation
- Net Interest-Bearing Debt/Free Cash Flow
- Forecast for Fiscal Year Ending March 31, 2017
- FOREX impact on Minebea
- Policy and Strategy
- 1. Evaluation of 1H (FY 3/2017) Results
- 2. Full-year forecast (FY 3/2017)
- 3. External ball bearing sales steadily growing
- 4. Motor business to bring in steady income mainly from in-vehicle applications
- 5. Beefing up growth for sensing devices
- 6. Aircraft parts to focus on investments to grow
- 7. Status and Future of HDD-related Business
- 8. Current status of LED Backlight business
- 9. Integrating with MITSUMI with eye to next fiscal year and onward
- 10. LED backlights to remain in operation next year
- 11. Cambodian plant building #3 completed!
- 12. New Sartorius MT&H Bengaluru plant
- 13. Plan to build new Slovakia plant
- 14. Marketing strategies to new heights
- 15. Business / capital alliance with Iwasaki Electric
- 16. Financial Strategies: Share buyback as an anti-dilution measure
- 17. Financial Strategies: dividend
- 18. Financial Strategies: M&A Strategies
- Forward-looking Statements (1)
- Forward-looking Statements (2)
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Second quarter net sales for the Machined Components business segment decreased by 12% from the same period last year and by 5% from the previous quarter, to 37.3 billion yen. Operating income declined by 11% from the same period last year and by 12% from the previous quarter, to 9.1 billion yen. The operating margin was 24.5%. This is mainly due to the impact of negative currency translation followed by negative factors in ball bearings and rod-ends / fasteners.
Sales of ball bearings decreased 6% quarter on quarter, to 22.3 billion yen. The external shipment volume hit another monthly record high of 181 million units in September, surpassing the previous record set in June, and reached an average of 171 million units per month for the quarter, making it 16 quarters of consecutive year-on-year growth. However, profits decreased compared to the previous quarter, mainly due to negative currency translation impacts in addition to product mix deterioration.
Sales of rod-ends and fasteners decreased 11% compared to the previous quarter, to 7.1 billion yen, and there was a decline in profits. In addition to the negative currency translation impacts, shipments decreased on decreased demand from the Japanese government. However, given the steady demand expected from the commercial aircraft industry as a whole, we would like to expand and strengthen this business unit by actively investing in mechanical parts with bearings.
Although sales of pivot assemblies increased 4% quarter on quarter, for a total of 7.9 billion yen, profits decreased slightly, mainly due to negative currency impacts. However, the HDD market picked up some steam started in the June quarter onward and our market share has grown further.
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