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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We are at our wits ends in regard to the U-Shin business as we did not expect automobile production to drop so far. With OEM companies experiencing 20-30% declines in sales, I think the U-Shin business is doing relatively well, considering that it relies almost 100% on automobiles. The important thing to note is that U-Shin will most certainly turn a profit when automotive industry bounces back. If all businesses are going well, there's no room to stretch, so businesses like U-Shin will be the future drivers of growth.
Our basic stance is that we will wait for the automotive industry to recover. The resolve of our employees in Europe has also changed. Above all, we are now able to take orders steadily. As explained during the last presentation, we have received large-scale orders from major customers. Our policy is to simply keep highlighting our technical capabilities and grow the business.
Structural reform is proceeding smoothly in Europe, but some customers have said they want us to somehow keep up production, so some may be continued, assuming we are able to properly bill for our costs. However, this will not cause us to record a loss. In any case, as we have always said, if something is performing poorly, something else will provide a boost. Our risk hedging has been very effective in this case as well.
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