Consolidated Sales and Profit Forecast
Latest Update : Mar.10, 2025
* MinebeaMitsumi has adopted International Financial Reporting Standards (IFRS) from the 1Q of FY3/2019.
Forecast for the FY3/2025
The consolidated financial forecast for the fiscal year ending March 31, 2025 has been revised downward at the announcement of the third quarter results.
However, we expect to reach a new record highs in both sales and operating income.
Net sales are expected to increase in each segment to 1,500 billion yen due to improved inventory levels in the end markets.
Operating income is expected to reach 93 billion yen, with increased profits planned for all segments except Semiconductor & Electronics, due to the revenue increase and continued cost reduction activities in each segment.
The forecast of operating income includes one-time expenses of approximately 4 billion yen, which account for the impact of the PPA related to Minebea Power Semiconductor Devices and Socionext, as well as the losses due to the withdrawal from the Russian business.
| FY3/2024 Full Year Actual |
FY3/2025 | YoY Change |
||||
|---|---|---|---|---|---|---|
| 1H Actual |
2H Forecast |
Full Year Forecast |
||||
| Net sales | millions of yen | 1,402,127 | 778,237 | 721,763 | 1,500,000 | 7.0% |
| Operating income | millions of yen | 73,536 | 48,171 | 44,829 | 93,000 | 26.5% |
| Operating margin | % | 5.2% | 6.2% | 6.2% | 6.2% | |
| Profit before income taxes | millions of yen | 75,545 | 37,387 | 41,613 | 79,000 | 4.6% |
| Profit before income taxes margin | % | 5.4% | 4.8% | 5.8% | 5.3% | |
| Profit for the period attributable to owners of the parent | millions of yen | 54,035 | 26,048 | 30,952 | 57,000 | 5.5% |
| Profit for the period attributable to owners of the parent margin | % | 3.9% | 3.3% | 4.3% | 3.8% | |
| Earnings per share, basic (EPS) | yen | 133.05 | 64.46 | 77.03 | 141.49 | 6.3% |
Forecast for the Consolidated Sales and Operating Income by Business Segment
In the Precision Technologies segment for the fiscal year ending March 31, 2025, we expect continued growth in ball bearings due to content growth for automotive sector, despite a weakness in demand for automotive and data center applications (from the middle of December 2024). In our aircraft-related businesses, including rod-ends and fasteners, we expect aircraft production rates to gradually recover towards the fourth quarter of the year, and we expect to hit record high performance. For the PMC, we also expect recovery of demand in this fiscal year.
In the Motor, Lighting & Sensing segment for this fiscal year, we expect an increase in both sales and operating income due to steady sales of motors for automotive applications, a recovery trend in motors for HDDs, and an improved product mix. For electronic devices, we expect a decrease in both sales and profit. For sensing devices, we expect an increase in both sales and profit.
In the Semiconductors & Electronics segment, we expect an increase in sales due to the incorporation of Minebea Power Semiconductor Devices (formerly Hitachi Power Semiconductor Devices), which became a consolidated subsidiary on May 2, 2024. However we expect a decrease in profit mainly due to the sub-core business (optical devices related to smartphones and mechanical components related to gaming).
In the Access Solutions segment, we expect an increase in sales and operating income due to impact of the market recovery and the business integration.
| FY3/2024 Full Year Actual |
FY3/2025 | YoY Change |
||||
|---|---|---|---|---|---|---|
| 1H Actual |
2H Forecast |
Full Year Forecast |
||||
| Net sales | millions of yen | 1,402,127 | 778,237 | 721,763 | 1,500,000 | 7.0% |
| Precision Technologies | millions of yen | 211,406 | 127,561 | 127,439 | 255,000 | 20.6% |
| Motor, Lighting & Sensing | millions of yen | 369,388 | 205,497 | 199,503 | 405,000 | 9.6% |
| Semiconductors & Electronics | millions of yen | 494,717 | 279,944 | 230,056 | 510,000 | 3.1% |
| Access Solutions | millions of yen | 322,108 | 163,539 | 161,461 | 325,000 | 0.9% |
| Others | millions of yen | 4,508 | 1,696 | 3,304 | 5,000 | 10.9% |
| Operating income | millions of yen | 73,536 | 48,171 | 44,829 | 93,000 | 26.5% |
| Precision Technologies | millions of yen | 38,035 | 27,694 | 28,306 | 56,000 | 47.2% |
| Motor, Lighting & Sensing | millions of yen | 11,867 | 11,900 | 12,100 | 24,000 | x 2.0 |
| Semiconductors & Electronics | millions of yen | 35,522 | 14,033 | 5,967 | 20,000 | -43.7% |
| Access Solutions | millions of yen | 10,625 | 6,534 | 9,466 | 16,000 | 50.6% |
| Other | millions of yen | -728 | -545 | -455 | -1,000 | - |
| Adjustments | millions of yen | -21,785 | -11,445 | -10,555 | -22,000 | - |
Capital Expenditure, Depreciation, Research and Development Costs
| FY3/2024 Full Year Actual |
FY3/2025 Full Year Forecast |
YoY Change |
||
|---|---|---|---|---|
| Depreciation and amortization | millions of yen | 58,359 | 64,000 | 9.7% |
| Capital expenditures | millions of yen | 83,570 | 89,000 | 6.5% |
| R&D expenses | millions of yen | 42,662 | 45,000 | 5.5% |
Foreign Exchange
| FY3/2024 Full Year Actual |
FY3/2025 4Q Assumption |
|||
|---|---|---|---|---|
| USD | PL | yen | 143.31 | 150.00 |
| BS | yen | 151.41 | 150.00 | |
| EUR | PL | yen | 155.18 | 155.00 |
| BS | yen | 163.24 | 155.00 | |
| THB | PL | yen | 4.08 | 4.45 |
| BS | yen | 4.16 | 4.45 | |
| CNY | PL | yen | 20.03 | 20.80 |
| BS | yen | 20.83 | 20.80 | |
