Presentation Transcripts
Latest Update : May 25, 2018
Back to Financial Results (FY3/2018)
Investor Meeting Presentation for FY 3/2018 held on May 8, 2018
- Cover
- Today's Agenda
- Financial Results
- Summary of Consolidated Business Results
- Summary of Consolidated Business Results for 4Q
- Net Sales (Yearly)
- Net Sales (Quarterly)
- Operating Income (Yearly)
- Operating Income (Quarterly)
- Machined Components (Yearly)
- Machined Components (Quarterly)
- Electronic Devices & Components (Yearly)
- Electronic Devices & Components (Quarterly)
- Mitsumi Business (Yearly)
- Mitsumi Business (Quarterly)
- Net Income (Yearly)
- Net Income (Quarterly)
- S.G. & A. Expenses
- Inventories
- Capital Expenditure & Depreciation
- Net Interest-Bearing Debt/Free Cash Flow
- Forecast for Fiscal Year Ending March 31, 2019
- Forecast for Business Segment
- Shareholders Return
- Management Policy & Business Strategy
- Summary of Fiscal Year ended 3/18
- Summary of Fiscal Year ending 3/19
- Mid-term Business Plan Targets
- Machined Components Targets
- Ball Bearing Business Strategy
- Automobile Parts Adoption Rate and Global Automobile Shipment Forecasts
- Number of Bearings per Vehicle
- Demand for Bearings: Cooling Fans for Data Centers
- Demand for Bearings: Drones (Unmanned Aerial Vehicles)
- Aircraft Components Business Strategy
- Pivot Assembly (HDD) Business Strategy
- Electronic Devices and Components Targets
- Motor Business Strategy
- Open China Technical Center
- LED Backlight Business Strategy
- "MINEGE™" Strategy (Sensing Device Business)
- Mitsumi Business Targets
- Optical Devices/Mechanical Parts Business Strategy
- Mitsumi Core Business Strategy
- New Product Trio
- Mid-term Business Plan: Targets by Segment
- EBITDA/Net interest-bearing debts/Free cash flows
- Shareholder Return Policy
- Forward-looking Statements
- Reference
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In the fourth quarter of the fiscal year ended March 31, 2018, net sales were 224,211 million yen, operating income 14,773 million yen, and net income 7,827 million yen.
Year on year, net sales were up 14.1%, operating income up 3.3%, and net income down 51.8%. Despite quarter on quarter decreases of 0.7% in net sales, 34.2% in operating income, and 54.7% in net income, net sales reached a record high for any fourth quarter.
Since the fourth quarter, we have changed the contract with customers for the OEM business in the Mitsumi business segment and this resulted in an increase in net sales, which amounted to 24.2 billion yen (hereinafter referred to as the "sales increase due to contract change with customers"). Excluding this impact, they would have dropped 11.5% quarter on quarter.
Also, in the fourth quarter, operating income includes 0.7 billion yen of expense increase associated with the purchase price allocation process for the acquisitions of C&A Tool Engineering in US and Mach Aero in France (hereinafter referred to as the "PPA impact"), and the net income includes 5.4 billion yen of impairment losses for the business assets.
Impact from foreign currency translations is estimated to result in year on year decreases of 4.0 billion yen in net sales and 3.3 billion yen in operating income as well as estimated quarter on quarter decreases of 3.4 billion yen in net sales and 1.8 billion yen in operating income.
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