Minebeamitsumi Inc. · TSE:6479
Minebeamitsumi — Q3 2025 Earnings Presentation
33 slides from Minebeamitsumi's earnings presentation, Feb 5, 2025
Slide 1: Business Results Third Quarter of Fiscal Year Ending March 31, 2025
Business Results Third Quarter of Fiscal Year Ending March 31, 2025 MinebeaMitsumi Inc. February 5, 2025
Slide 2: Summary of Consolidated Business Results for 3Q
Summary of Consolidated Business Results for 3Q Despite the decrease in net sales year-on-year, operating income increased due to growth in high-margin businesses FY3/24 FY3/25 Change (Millions of yen) 3Q 2Q 3Q YoY QoQ Net sales 381,207 422,783 369,643 -3.0% -12.6% Operating income 24,704 28,146 26,
Slide 3: Net Sales, Operating Income / Margin
Net Sales, Operating Income / Margin (Billions of yen) Net sales Operating income Operating margin 422.8 371.4 379.7 381.2 369.6 348.8 355.5 330.0 339.7 292.4 251.0 31.4 28.1 26.3 25.5 26.4 24.7 21.7 20.3 20.0 14.3 9.3% 8.0% 6.9% 6.7 6.5% 6.7% 7.1% 5.7% 5.7% 5.8% 5.6% 2.3% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q
Slide 4: 3Q Actual: Differences from the Forecast as of November
3Q Actual: Differences from the Forecast as of November (Billions of yen) 401.0 369.6 Net Sales 29.0 26.4 Operating Income February 5, 2025 4
Slide 5: Precision Technologies (PT)
Precision Technologies (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 FY3/24 4Q onward. 64.9 24.4%
Slide 6: Motor, Lighting & Sensing (MLS)
Motor, Lighting & Sensing (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% 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 98.0 96.2 97.0 9.6 1.6 1.5 1.0 90.7 1.5 92.
Slide 7: Semiconductors & Electronics (SE)
Semiconductors & Electronics (SE) Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin 182.7 10.5% 11.4% 9.0% 8.0% 8.7% 8.7% 168.7 5.5% 4.3% 5.1% 157.1 0.4% 0.7% 146.5 137.0 123.6 126.1 109.5 111.2 16.4 15.6 86.8 81.7 12.6 12.8 9.1 9.5 9.3 6.4 4.7 0.6 0.6
Slide 8: Access Solutions (AS)
Access Solutions (AS) Net sales (Billions of yen) Operating income (Billions of yen) *Excl. special factors Operating income Operating margin 87.9 83.0 27.1% 81.5 82.0 80.2 77.6 73.6 69.5 7.3% 4.3% 5.2% 2.7% 3.7% 1.5% 0.6% 2.2%* 0.2% 2.3% 0% -0.9% Special factors 17.3 18.8 46.3 42.9 36.0 6.4 4.1 3.0
Slide 9: 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) 30.1 73.4 20.0 18.3 17.6 16.4 48.5 15.2 45.3 13.9 43.8 12.3 40.2 12.1 10.7 37.6 34.5 29.7 30.0 26.4 4.1 10.1 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
Slide 10: Inventory
Inventory (Billions of yen) 359.6 356.6 335.8 303.3 302.8 300.5 294.9 272.8 275.9 264.4 263.1 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/23 FY3/24 FY3/25 February 5, 2025 10
Slide 11: Net Interest-bearing Debt / Free Cash Flow
Net Interest-bearing Debt / Free Cash Flow (Billions of yen) Net interest-bearing debt * Free cash flow 244.5 220.0 201.7 208.6 84.4 86.9 23.2 25.5 14.8 18.1 (6.6) (62.2) FY3/21 FY3/22 FY3/23 FY3/24 FY3/25 FY3/25 1Q-3Q Forecast *Net interest-bearing debts: “Bonds and borrowings” - (“Cash and cash eq
Slide 12: Full-year Forecast
Full-year Forecast Full-year forecast revised FY3/24 FY3/25 (Millions of yen) Full Year 1st Half 2nd Half Full Year YoY Net sales 1,402,127 778,237 721,763 1,500,000 +7.0% Operating income 73,536 48,171 44,829 * 93,000 +26.5% Profit before taxes 75,545 37,387 41,613 79,000 +4.6% Profit for the perio
Slide 13: Full-year Forecast for Business Segment
Full-year Forecast for Business Segment FY3/24 FY3/25 (Millions of yen) Full Year 1st Half 2nd Half Full Year YoY Net sales 1,402,127 778,237 721,763 1,500,000 +7.0% Precision Technologies (PT) 211,406 127,561 127,439 255,000 +20.6% Motor, Lighting & Sensing (MLS) 369,388 205,497 199,503 405,000 +9.
Slide 14: Full-year Forecast: Differences from the Forecast as of November
Full-year Forecast: Differences from the Forecast as of November 1,560.0 (Billions of yen) 1,500.0 Net Sales 103.0 93.0 Operating Income February 5, 2025 14
Slide 15: Today's Points
Today’s Points Total sales and operating income for the first three quarters both reached record highs. 3Q operating income for PT and MLS was almost in line with our forecast. SE substantially fell short of our plan mainly due to its sub-core business performance. Full-year sales are projecte
Slide 16: Forecast for FY 3/25
Forecast for FY 3/25 Although the full-year forecast has been revised downward, operating income is up 26.5% YoY (Millions of yen） FY3/24 FY3/25 Full Year 1Q-3Q 4Q Full Year YoY Net sales 1,402,127 1,147,880 352,120 1,500,000 ＋7.0% Operating 73,536 74,594 18,406 93,000 +26.5% Income Profit for the p
Slide 17: Steady Recovery in Core Businesses
Steady Recovery in Core Businesses Although sub core businesses are dragging down our profits, core businesses are expected to recover as expected Consolidated operating income index (Excl. sub-core business） Outlook for this fiscal year Operating income index of sub-core business *Indexation: FY3/1
Slide 18: Precision Technologies (PT) Update
Precision Technologies (PT) Update Growing into a position to target operating income of 60 billion yen Expecting growth in the aircraft business to outpace the market by strengthening the global production network Expansion of manufacturing plant Key points for aircraft products ●Aircraft manufactu
Slide 19: Ball Bearing Sales Volume Trend
Ball Bearing Sales Volume Trend The sales volume and profitability of ball bearings are on track for recovery New bearing application opportunities are also emerging in the data center, automotive, and humanoid robotics markets 500 Ball bearing sales volume (Internal and External sales, monthly aver
Slide 20: Motor, Lighting & Sensing (MLS) Update
Motor Lighting & Sensing (MLS) Update Motor sales are steady HUD is another growth driver for new applications of automotive backlights Key points HUD (Head Up Display) market forecast Number of HUD HUD market (volume) Motors （Units: million） 1 • Sales of motors for HDDs, automotive, and non- automo
Slide 21: Semiconductors & Electronics (SE) Update
Semiconductors & Electronics (SE) Update Analog semiconductors focus on niche and custom areas to achieve 200 billion yen in sales and an operating margin of 30% by FY3/29 Key points Semiconductor division sales plan image Semiconductors: Focus on niche areas to realize 1 differentiation from Chines
Slide 22: Access Solutions (AS) Update
Access Solutions (AS) Update Achieve increase in sales and operating margin leveraging synergies created within the AS Group Key points Motorcycle business Expand our business in India, 1 Products developed by Minebea AccessSolutions (formerly Honda Lock) have a growing market the future been ordere
Slide 23: Shareholder Returns
Shareholder Returns Dividends The year-end dividend is planned to be 25 yen (annual dividend 45 yen) Interim Dividend 20 Yen/Share FY 3/25 Year-end Dividend (Planned) Undecided 25 Yen/Share (Reference) FY 3/24 annual dividend 40 yen (Interim 20 yen, Year-end 20 yen) • Sustainable and stable dividend
Slide 24: 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 25: Reference
Reference February 5, 2025 25
Slide 26: Net Sales, Operating Income / Margin
Net Sales, Operating Income / Margin *Operating income prior to 3Q FY3/24 has been revised in accordance with finalization of PPA for HONDA TSUSHIN KOGYO CO., LTD,, Minebea Connect Inc., and Minebea AccessSolutions Inc. (Billions of yen) Net sales Special 1,500.0 factors Operating income 10.5* 1,402
Slide 27: Precision Technologies (PT)
Precision Technologies (PT) Net sales (Billions of yen) Operating income (Billions of yen) 255.0 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 FY3/24 4Q onward. 24.5
Slide 28: Motor, Lighting & Sensing (MLS)
Motor, Lighting & Sensing (MLS) Net sales (Billions of yen) Operating income (Billions of yen) Motors Electronic devices Sensing devices Other Operating income Operating margin 5.8% 5.9% 4.8% 405.0 3.2％ 3.2% 7.0 371.0 366.3 369.4 36.7 363.8 0.3% 4.2 4.3 4.2 4.6 32.6 35.4 37.5 35.7 24.0 41.3 49.3 21.
Slide 29: Semiconductors & Electronics (SE)
Semiconductors & Electronics (SE) *Operating income prior to 2Q FY3/24 has been revised Net sales (Billions of yen) Operating income (Billions of yen) in accordance with finalization of PPA for HONDA TSUSHIN KOGYO CO., LTD, and Operating income Operating margin Minebea Connect Inc. 530.1 **Excl. spe
Slide 30: Access Solutions (AS)
Access Solutions (AS) Net sales (Billions of yen) Operating income (Billions of yen) *Operating income prior to 3Q FY3/24 has been revised in accordance with finalization of PPA for Minebea AccessSolutions Inc. Operating income Operating margin **Excl. special factors 9.9% 325.0 3.3% 4.9% 322.1 2.3%
Slide 31: S.G.&A. Expense / Ratio
S.G.&A. Expense / Ratio (Billions of yen) S.G.&A. expenses S.G.&A. to sales ratio 45.6 43.5 44.2 41.6 42.7 39.2 39.9 38.1 35.6 36.8 32.7 13.0% 13.0% 12.2% 12.2% 11.9% 11.5% 10.9% 10.8% 10.5% 10.8% 9.9% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/23 FY3/24 FY3/25 February 5, 2025 31
Slide 32: Capital Expenditure / D&A Expense
Capital Expenditure / D&A Expense (Billions of yen) Capital expenditure Depreciation & Amortization expenses 147.0 * 89.0 83.6 73.5 * 60.8 64.0 58.4 ** 53.0** 45.5 48.6 45.2 47.8 FY3/21 FY3/22 FY3/23 FY3/24 FY3/25 FY3/25 1Q-3Q Forecast * Capital expenditures of FY3/22 & FY3/23 include new HQ buildin
Slide 33: ROIC (Return On Invested Capital)
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