Slide 1: Business Results, Third Quarter of Fiscal Year Ending March 31, 2014
Business Results Third Quarter of Fiscal Year Ending March 31, 2014 February 4, 2014 Minebea Co., Ltd.
Slide 2: Consolidated business results for the first nine months
Looking at consolidated business results for the first nine months of the fiscal year ending March 31, we see that net sales increased 31.8% year‐on‐year to reach 277,934 million yen. Operating income reached 23,316 million yen, which is 2.2 times higher than what it was for the same period last yea
Slide 3: Third quarter results and record highs
Third quarter net sales for the fiscal year ending March 31, 2014 hit 97,135 million yen, up 35.5% year‐on‐year and up 1.7% quarter‐on‐quarter. Operating income was 10,312 million yen, which is 3.5 times higher than it was for the same period last year and up 8.9% over the previous quarter. Net inco
Slide 4: Third quarter net sales totaled 97.1 billion yen
Third quarter net sales totaled 97.1 billion yen, up 35.5% year‐on‐year and up 1.7% from the previous quarter. Sales of LED backlights continued to expand while sales of HDD pivot assemblies, OA equipment motors and hybrid components also saw an increase over the previous quarter. 3
Slide 5: Operating income surpassed 10 billion yen
Operating income for the third quarter surpassed 10 billion yen. This was a quarterly record‐ high, with operating income totaling 10.3 billion yen, 3.5 times higher than it was for the same period last year and up 8.9% over the previous quarter. The operating margin for the quarter improved 0.7 per
Slide 6: Machined Components segment third quarter results
Third quarter net sales in the Machined Components business segment totaled 34.8 billion yen, a 0.6% increase from the previous quarter. Operating income was up 24.8% from the previous quarter to total 8.6 billion yen while the operating margin reached 24.8%, up 0.1 percentage points from the previo
Slide 7: Electronic Devices and Components segment results
Third quarter net sales for the Electronic Devices and Components business segment totaled 62.1 billion yen, up 2.4% from the previous quarter. Operating income increased 23.8% quarter‐on‐quarter to hit 4.2 billion, with the operating margin improving by 1.2 percentage points over the previous quart
Slide 8: Third quarter net income 6.6 times higher
Third quarter net income was 6.6 times higher than what it was during the same period last year and up 20.1% quarter‐on‐quarter to total 7.1 billion yen. Net income per share reached 19.0 yen. As part of the restructuring of our South Korean motor subsidiary Moatech, we have excluded Moatech subsidi
Slide 9: SG&A expenses in the third quarter
As sales increased, third quarter SG&A expenses rose 0.3 billion yen over what they were in the previous quarter to total 13.5 billion yen. The SG&A expenses‐to‐sales ratio saw a minimal increase of 0.1 percentage points to total 13.9%. 8
Slide 10: Inventories at the end of the third quarter
Inventories at the end of the third quarter increased 5.0 billion yen. Excluding the impact of the weaker Japanese yen, amounting to 3.6 billion yen, our inventories actually increased 1.3 billion yen. 9
Slide 11: Capital expenditures and depreciation
Capital expenditures for the first nine month of the fiscal year were 14.5 billion yen while depreciation and amortization expenses for the period totaled 17.8 billion yen. We are curbing capital spending this fiscal year and trying to improve our financial position since we have already aggressivel
Slide 12: Net interest-bearing debt and net assets
Net interest‐bearing debts, which are interest‐bearing debts minus cash and cash equivalents, totaled 122.1 billion yen at the end of the third quarter. That’s down 14.0 billion yen from the end of the previous fiscal year. Thanks to increased profits as well as fewer losses from foreign currency tr
Slide 13: Free cash flow expected to reach 18 billion yen
Free cash flow for this fiscal year is expected to reach 18 billion yen due to soaring profits. We also plan to cut net interest‐bearing debts by utilizing the improved cash flow from reduced investments, etc. 12
Slide 14: Revised full year estimates
Considering the strong earnings in the third quarter, we have revised our full year estimates. We already revised our estimates in July and November, so this is the third revision this fiscal year. In the fourth quarter, the external shipment volume of ball bearings is expected to remain high. In ad
Slide 15: Revised business segment forecasts
This slide shows the revised business segment forecasts. 14
Slide 16: Dividend policy and annual dividend
Our basic dividend policy gives priority to enhancing equity efficiency and improving returns to our shareholders, with dividends reflecting performance in light of the overall business environment while maintaining a stable and continuous distribution of profits. Considering our strong earnings, we
Slide 17: Minebea Co., Ltd.
Minebea Co., Ltd. Business Results http://www.minebea.co.jp/ Minebea Passion to Exceed Precision 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 actua