Minebeamitsumi Inc. · TSE:6479
Minebeamitsumi — FY2025 Earnings Presentation
65 slides from Minebeamitsumi's earnings presentation, May 9, 2025
Slide 1: Financial Results Briefing
Financial Results Briefing Fiscal Year Ended March 2025 MinebeaMitsumi Inc. May 9, 2025
Slide 2: Today’s Agenda
Today’s Agenda 1. Financial Results Overview and Forecast 2. Management Policy and Business Strategy May 9, 2025 2
Slide 3: Financial Results Overview and Forecast
Financial Results Overview and Forecast Katsuhiko Yoshida Director, President COO & CFO May 9, 2025 3
Slide 4: Summary of Consolidated Financial Results for the Fiscal Year
Summary of Consolidated Financial Results for the Fiscal Year Record-high net sales achieved (13th consecutive year of growth) FY3/24 FY3/25 Growth Rate FY3/25 Full Year Forecast (Millions of yen) Full Year Full Year YoY As of February Achievement Rate Net sales 1,402,127 1,522,703 +8.6% 1,500,000 1
Slide 5: Summary of Consolidated Financial Results for 4Q
Summary of Consolidated Financial Results for 4Q 4Q results achieved the revised targets for both net sales and operating income FY3/24 FY3/25 Growth Rate (Millions of yen) 4Q 3Q 4Q YoY QoQ Net sales 348,803 369,643 374,823 +7.5% +1.4% Operating income 20,342 26,163 21,531 +5.8% -17.7% Profit before
Slide 6: Net Sales, Operating Income, and Operating Income Margin
Net Sales, Operating Income, and Operating Income Margin * Operating income prior to 3Q FY3/25 has been revised in accordance with finalization of PPA for Minebea Power Semiconductor Device Inc. and Socionext Inc. (Billions of yen) ** Operating income prior to 3Q FY3/24 has been revised in accordanc
Slide 7: Quarterly Trends: Net Sales, Operating Income, and Margin
Quarterly Trends: Net Sales, Operating Income, and Operating Income Margin * Operating income prior to 3Q FY3/25 has been revised in accordance with finalization of PPA for Minebea Power Semiconductor Device Inc. and Socionext Inc. (Billions of yen) Net Sales Operating Income Operating Income Margin
Slide 8: 4Q Results: Variance from Previous Forecast
4Q Results: Variance from Previous Forecast (Announced February 5, 2025) (Billions of yen) 374.8 352.1 Net Sales 21.5 18.4 Operating Income May 9, 2025 8
Slide 9: Precision Technologies Segment (PT)
Precision Technologies Segment (PT) *Excl. special factors Net sales (Billions of yen) Operating income (Billions of yen) Ball Bearings Rod-ends/Fasteners PMC * Operating income Operating margin *The sub-segment name has been changed to PMC (Precision Mechanical Components) from Pivot assemblies fro
Slide 10: Quarterly Trends: Precision Technologies Segment (PT)
Quarterly Trends: Precision Technologies Segment (PT) Net sales (Billions of yen) Operating income (Billions of yen) Ball Bearings Rod-ends/Fasteners PMC * Operating income Operating margin *The sub-segment name has been changed to PMC (Precision Mechanical Components) from Pivot assemblies from FY3
Slide 11: Motor, Lighting & Sensing Segment (MLS)
Motor, Lighting & Sensing Segment (MLS) *Excl. special factors Net sales (Billions of yen) Operating income (Billions of yen) Motors Electronic devices Sensing devices Other Operating income Operating margin 7.0% 5.8% 5.8％ * 5.8% 427.0 8.0 416.0 30.0 407.7 3.2％* 3.2% 5.6% 8.0 7.4 38.0 371.0 369.4 37
Slide 12: Quarterly Trends: Motor, Lighting & Sensing Segment (MLS)
Quarterly Trends: Motor, Lighting & Sensing Segment (MLS) Net sales (Billions of yen) Operating income (Billions of yen) Motors Electronic devices Sensing devices Other Operating income Operating margin 6.4% 6.3% 5.2% 4.7% 3.3% 3.9% 3.1% 3.7% 2.2% 2.1% 0.2% 0% 106.4 -4.8% 99.1 1.5 101.0 101.3 98.0 9
Slide 13: Semiconductor & Electronics Segment (SE)
Semiconductor & Electronics Segment (SE) *Operating income prior to 3Q FY3/25 has been revised in Net sales (Billions of yen) Operating income (Billions of yen) accordance with finalization of PPA for Minebea Power Semiconductor Device Inc. and Socionext Inc. **Operating income prior to 2Q FY3/24 ha
Slide 14: Quarterly Trends: Semiconductor & Electronics Segment (SE)
Quarterly Trends: Semiconductor & Electronics Segment (SE) *Operating income prior to 3Q FY3/25 has been revised in Net sales (Billions of yen) Operating income (Billions of yen) accordance with finalization of PPA for Minebea Power Semiconductor Device Inc. and Socionext Inc. Operating income Opera
Slide 15: Access Solutions Segment (AS)
Access Solutions Segment (AS) *Operating income prior to 3Q FY3/24 has been Net sales (Billions of yen) Operating income (Billions of yen) revised in accordance with finalization of PPA for Minebea AccessSolutions Inc. Operating income Operating margin **Excl. special factors 9.9% 328.1 5.2%** 6.0%
Slide 16: Quarterly Trends: Access Solutions Segment (AS)
Quarterly Trends: Access Solutions Segment (AS) Net sales (Billions of yen) Operating income (Billions of yen) *Excl. special factors Operating income Operating margin 87.9 84.4 83.0 82.0 27.1% 81.5 80.2 77.6 73.6 69.5 7.3% 6.2% 4.3% 5.2% 2.7% 3.7% 2.3% 1.5% 0.6% 2.2%* 0% -0.9% 0.2% 46.3 42.9 Specia
Slide 17: Profit Attributable to Owners of the Parent / EPS
Profit Attributable to Owners of the Parent / EPS (Billions of yen) Profit for the period attributable to owners of the parent Earnings per share, basic (yen) *Operating income prior to 3Q FY3/25 has been revised in accordance with finalization of PPA for Minebea Power Semiconductor Device Inc. and
Slide 18: Quarterly Profit Attributable to Owners of the Parent / EPS
Quarterly Profit Attributable to Owners of the Parent / EPS (Billions of yen) Profit for the period attributable to owners of the parent Earnings per share, basic (yen) 30.1 73.4 20.0 18.3 17.4 17.0 16.4 48.5 15.2 45.3 13.1 12.3 43.4 42.3 40.2 11.9 10.7 37.6 32.5 29.7 29.5 26.4 4.1 10.1 1Q 2Q 3Q 4Q
Slide 19: Inventories
Inventories (Billions of yen) 359.6 356.6 350.9 335.8 303.3 302.8 300.5 294.9 272.8 275.9 264.4 263.1 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/23 FY3/24 FY3/25 May 9, 2025 19
Slide 20: Net Interest-Bearing Debt and Free Cash Flow
Net Interest-Bearing Debt and Free Cash Flow (Billions of yen) Net Interest-Bearing Debt* Free Cash Flow 241.4 201.7 208.6 210.0 200.0 86.9 62.3 51.5 25.5 14.8 7.9 (62.2) FY3/22 FY3/23 FY3/24 FY3/25 FY3/26 Forecast Forecast (Base Scenario) (Risk Scenario) *Net interest-bearing debts: “Bonds and borr
Slide 21: Earnings Forecast for FY3/26
Earnings Forecast for FY3/26 Considering the impact of US reciprocal tariffs, we have both a base and a risk scenario FY3/25 FY3/26 (Base scenario) FY3/26 (Risk Scenario) (Millions of yen) Full Year 1st Half 2nd Half Full Year YoY 1st Half 2nd Half Full Year YoY Net sales 1,522,703 774,500 745,500 1
Slide 22: Segment Changes
Segment Changes To further enhance synergy, related businesses and core technologies are consolidated From FY3/26 Until FY3/25 Segment Onward Precision Technologies （PT） Motors ①Resonant Devices Motor, Lighting Electronic devices ①Resonant Devices ②Smart Products & Sensing Sensing devices （MLS） Othe
Slide 23: Earnings Forecast for FY3/26 by Segment (Base Scenario)
Earnings Forecast for FY3/26 by Segment (Base Scenario) FY3/25 FY3/26 (Millions of yen) Full Year 1st Half 2nd Half Full Year YoY * Net sales 1,522,703 774,500 745,500 1,520,000 -0.2% Precision Technologies (PT) 255,702 127,500 128,500 256,000 +0.1% Motor, Lighting & Sensing (MLS) 407,743 207,000 22
Slide 24: Earnings Forecast for FY3/26 by Segment (Risk Scenario)
Earnings Forecast for FY3/26 by Segment (Risk Scenario) FY3/25 FY3/26 (Millions of yen) Full Year 1st Half 2nd Half Full Year YoY * Net sales 1,522,703 764,500 725,500 1,490,000 -2.1% Precision Technologies (PT) 255,702 125,500 124,500 250,000 -2.2% Motor, Lighting & Sensing (MLS) 407,743 203,500 21
Slide 25: Management Policy & Business Strategy
Management Policy & Business Strategy May 9, 2025 Representative Director, Chairman CEO Yoshihisa Kainuma May 9, 2025 25
Slide 26: FY3/25 Highlights
FY3/25 Highlights Net sales reached a record high for the 12th consecutive fiscal year. Operating Income was ¥94.5 billion. On a real basis, excluding special factors, it reached ¥99.5 billion, the highest ever. The operating income of PT reached a record high of ¥55.7 billion. Motors in MLS fel
Slide 27: FY3/26 Earnings Forecast (Base Scenario)
FY3/26 Earnings Forecast（Base Scenario） Operating income is projected at 100 billion yen in the base scenario and 85 billion yen in the risk scenario Despite a decline in net sales due to the impact of yen appreciation, expect an increase in operating income based on the improved profitability and
Slide 28: Impact of US Reciprocal Tariffs
① Impact of US Reciprocal Tariffs ② Plans for the FY3/26 ③ M&A Deal Initiatives for Medium- to ④ Long-term Growth ⑤ Shareholder Returns May 9, 2025 28
Slide 29: FY3/26 Risk Scenario Assumptions
FY3/26 Risk Scenario Assumptions A negative impact of ¥30.0 billion on net sales and ¥15.0 billion on operating income is anticipated for FY3/26 due to US reciprocal tariffs Assumptions: • The direct impact of increased costs from US reciprocal tariffs is expected to be minor, as our basic strateg
Slide 30: Net Sales and Operating Income Forecast for FY3/26 (by Segment)
Net Sales and Operating Income Forecast for FY3/26 (by Segment) （Billions of yen） FY3/25 Result FY3/26 FY3/26 （Before Segment Change） Base Scenario Risk Scenario Segment Net sales OP Net sales OP Net Sales OP YoY* YoY* YoY* YoY* PT 256.0 57.0 250.0 53.0 255.7 55.7 (Precision Technologies ) +0.1% +2.
Slide 31: Plans for the FY3/26
① Impact of US Reciprocal Tariffs ② Plans for the FY3/26 ③ M&A Deal Initiatives for Medium- to ④ Long-term Growth ⑤ Shareholder Returns May 9, 2025 31
Slide 32: Long-Term Trend in Net Sales and Operating Income
Long-Term Trend in Net Sales and Operating Income Overcoming adversity and achieving sustainable growth through diversification of the business portfolio Plans for FY3/27 and beyond will be updated as uncertainties in the external environment are resolved ■ Net Sales from Organic Growth Sales from M
Slide 33: Precision Technologies Segment (PT) Outlook
Precision Technologies Segment (PT) Outlook Demand in data centers and the automotive sector remains strong, positioning us to target an operating income of ¥60 billion Expecting growth in the aircraft business to outpace the market by strengthening the global production network Ball bearing sales P
Slide 34: Motor, Lighting & Sensing Segment (MLS) Outlook
Motor, Lighting & Sensing Segment (MLS) Outlook Motor business is working to improve profitability, aiming to achieve an operating income margin of 10% in FY3/27 Motor sales Sensing device sales Key points Operating income Electronic device sales Other sales Operating margin Motors 主なポイント 1 Base (Bi
Slide 35: Semiconductor & Electronics Segment (SE) Outlook
Semiconductor & Electronics Segment (SE) Outlook Continue to focus on niche and custom areas for analog semiconductors to improve profitability Improve basic operations for sub-core businesses (optical devices, mechanical components) under the Chairman's ICU Sales Operating income Operating margin K
Slide 36: Access Solutions Segment (AS) Outlook
Access Solutions Segment (AS) Outlook Achieved operating income of ¥16.0 billion in FY3/25 despite a sluggish automotive market Continue to improve profitability in FY3/26 through thorough productivity improvements Sales Operating income Operating margin Key points （Billions of yen） Base Risk Electr
Slide 37: M&A Deal
① Impact of US Reciprocal Tariffs ② Plans for the FY3/26 ③ M&A Deal Initiatives for Medium- to ④ Long-term Growth ⑤ Shareholder Returns May 9, 2025 37
Slide 38: Overview of SHIBAURA ELECTRONICS CO., LTD.
Commencement of Tender Offer of Shares of SHIBAURA ELECTRONICS CO., LTD. Overview of SHIBAURA ELECTRONICS CO., LTD. * Name SHIBAURA ELECTRONICS CO., LTD. Address 2-1-24 Kamiochiai, Chuo-ku, Saitama City, Saitama 338-0001, Japan Title and Name of Representative Akira Kasai, President & Chief Executiv
Slide 39: Significance of Business Integration with SHIBAURA ELECTRONICS【1/2】
Significance of Business Integration with SHIBAURA ELECTRONICS【1/2】 SHIBAURA ELECTRONICS expected to become the core of our 5th Spear 1 Bearings OP ¥60 billion or more 8 Spears 2 3 4 Analog semiconductors Motors Access products OP ¥30 billion or more OP ¥30 billion or more OP ¥20 billion or more 5 S
Slide 40: Significance of Business Integration with SHIBAURA ELECTRONICS【2/2】
Significance of Business Integration with SHIBAURA ELECTRONICS【2/2】 Three high synergies expected between the two companies • Both companies are strong in vertically integrated Technological innovation and production systems innovation, and • With the rapid expansion of product fields that 1 develop
Slide 41: Our M&A Principles
Our M&A Principles While basically adhering to existing principles, we’ll be more flexible on M&A prices and are open to acquiring higher-margin business MinebeaMitsumi’s Fundamental M&A Principles 1 Strengthens existing businesses and/or can be expected to create synergy Integration 2 Thorough adhe
Slide 42: Initiatives for Medium- to Long-term Growth
① Impact of US Reciprocal Tariffs ② Plans for the FY3/26 ③ M&A Deal Initiatives for Medium- to ④ Long-term Growth ⑤ Shareholder Returns May 9, 2025 42
Slide 43: Integration of the Core Businesses
Integration of the Core Businesses Creating synergy by combining the eight core businesses 8 Spears and expanding business Analog Access Connectors/ Power supply Wireless/ Bearings Motors Sensors communications/ semiconductors products switches components software Wing handle Side door drives Side d
Slide 44: Products Supporting the Future World【1/2】
Products Supporting the Future World【1/2】 Securely capturing opportunities in the expanding humanoid robot market The market scale of our products will expand to ¥3 trillion by 2030 Market forecast for humanoid robots (million units) [Our forecast] Key points Market size of our target products (bill
Slide 45: Products Supporting the Future World【2/2】
Products Supporting the Future World【2/2】 Small ball bearing Humanoid robot Camera Vision Sensor Rotary actuator Torque sensor Bearing Frameless Motor Indirect drive & positioning motor Gripping motor Camera connection Optical connector actuator Linear actuator Battery Small Small Small Small DC mot
Slide 46: Robot Hand Development Project in Progress
Robot Hand Development Project in Progress Incorporating our products into robot hands to achieve lighter weight, higher speed, higher gripping force, and delicate movements Small ball We plan to exhibit our new technology products at CES 2026 bearings Key points (External diameter ・By leveraging th
Slide 47: Products for Solving Social Issues
Products for Solving Social Issues Contribute to the realization of a sustainable society by deepening and integrating the technologies of our core business 8 Spears Environmental Measures Realization of a Healthy Society Remote Medical Care Adopted for the PASONA Pavilion Sponsors Expo 2025 as Prov
Slide 48: ESG（Environment）
ESG（Environment） Established Minebea SchneiTec Green Power （MSGP) Cambodia plant switches to 100% renewable energy, contributing to GHG reduction in Cambodia Overview Minebea (Cambodia) has established a joint venture company with SchneiTec Co., Ltd., a government-certified power generation compan
Slide 49: Shareholder Returns
① Impact of US Reciprocal Tariffs ② Plans for the FY3/26 ③ M&A Deal Initiatives for Medium- to ④ Long-term Growth ⑤ Shareholder Returns May 9, 2025 49
Slide 50: Dividends
Dividends Policy • Sustainable and stable dividends: Based on the medium-term cash allocation policy, stable dividends will be implemented • Consolidated dividend payout ratio of 30%: Assuming a consolidated dividend payout ratio of approximately 30% in the future, backed by a stable earnings base a
Slide 51: Disclaimer
Any statements in this presentation which are not historical are future projections based on certain assumptions and executive judgments drawn from currently available information. Please note that actual performance may vary significantly from any particular projection due to various factors. Facto
Slide 52: Reference
Reference May 9, 2025 52
Slide 53: (1) History of 16 years
(1) History of 16 years May 9, 2025 53
Slide 54: Track Record for 16 years - Financial Results
Track Record for 16 years - Financial Results - Building a foundation for sustainable business growth through both organic and M&A (Millions of yen) FY3/09 FY3/25 Multiple Record High FY3/25 Sales 256,163 1,522,703 x5.9 1,522,703 （IFRS） FY3/23 Operating Income 13,406 94,482 x7.0 97,530 （IFRS） Profit
Slide 55: Sales CAGR
Trends of Sales Sales CAGR（FY3/09-FY3/25) （Billions of yen） Base Risk scenario scenario 12％ 1,124 1,292 1,402 1,523 1,520 1,490 Actual/ Forecast 1st year of mid-term Business Plan 978 988 879 885 3rd year of mid-term Business Plan 610 639 501 256 282 372 269 251 228 ※ ※※ FY3/09 FY3/10 FY3/11 FY3/12
Slide 56: OP CAGR
Trends of OP OP CAGR（FY3/09-FY3/25) （Billions of yen） 13％ Base Risk scenario scenario Actual/ Forecast 1st year of mid-term Business Plan 97.5 100.0 3rd year of mid-term Business Plan 92.1 85.0 94.6 73.5 79.2 72.0 58.6 60.1 51.2 51.4 49.0 32.2 13.4 22.2 8.6 12.1 10.2 ※ ※※ FY3/09 FY3/10 FY3/11 FY3/12
Slide 57: M&A Strategy
M&A Strategy Our M&A principle 1 Strengthens existing businesses and/or can be expected to create synergy Integration 2 Thorough adherence to appropriate pricing (not overpaying for targets) 16 years （’10 – ’25） 15 years of Of which Results/forecast 29 M&As integrated 28M&As 29M&As Total enterprise
Slide 58: Cash-generating Capabilities
EBITDA/Net Interest-bearing Debts/Free Cash Flows Cash-generating capabilities backed by high profitability Trends in EBITDA/Net interest-bearing debts/Free cash flows （Billions of yen） 241 EBITDA Net interest-bearing debts Free cash flows 209 202 161 151 136 137 132 114 104 110 111 108 100 97 93 98
Slide 59: Growth in Earnings per Share
Growth in earnings per share (EPS*) EPS: FY3/09-FY3/25 actual CAGR 14.3% Comparison of EPS (indexed with March 2009 as 1) 10 8.5 8.2 8 6 4 1.9 2 0 FY3/09 FY3/10 FY3/11 FY3/12 FY3/13 FY3/14 FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20 FY3/21 FY3/22 FY3/23 FY3/24 FY3/25 ● Our EPS (10-year moving average*
Slide 60: Growth in Return on Equity
Growth in return on equity (ROE*) ROE: FY3/09-FY3/25 average actual 11.0% （%） ROE（Excluding foreign currency translation adjustments） 25.0 ROE 20.0 16.2 14.9 14.9 15.0 14.0 15.9 11.6 14.8 13.9 9.6 10.0 9.2 10.0 12.5 8.1 8.2 5.0 The cost of capital is assumed to be approximately 8%. 0.0 FY3/18 FY3/19
Slide 61: Share Price Performance
Share Price Performance Share price performance relative to TOPIX, assuming March 31, 2009, as 100 700 600 MinebeaMitsumi 500 Company A 400 Company B 300 Company C 200 Company D 100 0 2009/3/31 2010/3/31 2011/3/31 2012/3/31 2013/3/31 2014/3/31 2015/3/31 2016/3/31 2017/3/31 2018/3/31 2019/3/31 2020/3
Slide 62: (2) Financial Data
(2)Financial Data May 9, 2025 62
Slide 63: S.G.&A. Expense / Ratio
S.G.&A. Expense / Ratio (Billions of yen) S.G.&A. expenses S.G.&A. to sales ratio 45.8 45.1 43.6 44.4 41.6 42.7 39.2 39.9 38.1 35.6 36.8 32.7 13.0% 13.0% 12.2% 12.3% 12.0% 12.0% 11.5% 10.8% 10.5% 10.9% 10.8% 9.9% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/23 FY3/24 FY3/25 May 9, 2025 63
Slide 64: Capital Expenditure / D&A Expense
Capital Expenditure / D&A Expense (Billions of yen) Capital expenditure Depreciation & amortization expenses 147.0 * 94.8 83.6 80.0 73.5 * ** 66.2 67.0 ** 58.4 53.0 45.2 FY3/22 FY3/23 FY3/24 FY3/25 FY3/26 Forecast * Capital expenditures of FY3/22 & FY3/23 include new HQ building acquisition expenses
Slide 65: ROIC
ROIC (Return On Invested Capital) MinebeaMitsumi ＝ NOPAT (Operating income + extraordinary profit/loss) x (1-tax rate) ROIC Invested capital (Notes receivable/accounts receivable + inventories + non-current assets - notes payable/accounts payable) Calculated using business assets (trade receivable/p