Presentation Transcripts
Latest Update : Nov.30, 2021
Back to Financial Results (FY3/2022)
Investor Meeting Presentation for 2Q of FY3/2022 held on November 5, 2021
- Cover
- Today's Agenda
- Financial Results
- Summary of Consolidated Business Results for 2Q
- Summary of Consolidated Business Results for 1H
- Net Sales, Operating Income/margin
- 2Q Actual: Differences from the Forecast as of August
- Machined Components
- Electronic Devices & Components
- Mitsumi Business
- U-Shin Business
- Profit attributable to owners of the parent / EPS
- Inventory
- Net interest-bearing debt / Free cash flow
- Forecast for Fiscal Year Ending March 31, 2022
- Forecast for Business Segment
- Business Update & Management Strategy
- FY3/22 Forecast Highlights (Revised upward)
- Machined Components (Prepare for giant leap)
- Electronic Devices and Components (Expand motors)
- Mitsumi Business (Aim at record high OP)
- U-Shin Business (Wait for the recovery of auto production)
- Estimate for next fiscal year (Aim ¥100bn OP)
- Key businesses driving mid-to long-term growth (Beyond 1,000)
- QCDESS and Environmental Load Reduction Activities
- (1) Toward carbon neutrality
- (2) Toward Realizing "MMI Beyond Zero"
- (2) Effort for "MMI Beyond Zero"
- Dividends
- Forward-looking Statements
- Reference
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Now let's take a look at the results by segment, starting with machined components business segment.
On the left is a graph indicating quarterly net sales trends and on the right is a graph with a bar chart quarterly operating income trends along with a line chart for operating margins.
Second quarter net sales were almost on a par with previous quarter to total 44.3 billion yen.
Ball bearing sales dipped 1.1% quarter on quarter to total 31.9 billion yen. The monthly external shipment volume was down 2.0% quarter on quarter for an average of 241 million units due primarily to a slowdown in sales to the automobile industry. Sales of aircraft bearings remained sluggish due to the stagnant market.
Sales of rod-ends and fasteners, totaling 6.5 billion yen, were up 1.6% from the previous quarter.
Sales of pivot assemblies increased 8.0% quarter on quarter to total 5.9 billion yen.
Operating income for the quarter totaled 11.9 billion yen, and the operating margin remained up, at 26.9%. Operating income rose 9.0% quarter on quarter while the operating margin improved 2.1 percentage points. Looking at the results by product, we see that operating income for ball bearings and pivot assemblies increased quarter on quarter while operating income for rod-ends and fasteners was about the same with last quarter. For ball bearings, profit increased while sales decreased quarter on quarter, thanks to high utilization rates on top of improved productivity.
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8page (total 38pages)
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