Minebeamitsumi Inc. · TSE:6479
Minebeamitsumi — Q1 FY3/2018 Earnings Presentation
19 slides from Minebeamitsumi's earnings presentation, Aug 4, 2017
Slide 1: Business Results First Quarter of Fiscal Year Ending March 31, 2018
Business Results First Quarter of Fiscal Year Ending March 31, 2018 MinebeaMitsumi Inc. August 4, 2017
Slide 2: Summary of Consolidated Business Results for 1Q
Summary of Consolidated Business Results for 1Q 1Q net sales, operating income, ordinary income & net income hit record highs FY3/17 FY3/18 Change (Millions of yen) 1Q 4Q 1Q YoY QoQ Net sales 120,288 196,418 193,204 +60.6% -1.6% Operating income 6,971 14,300 17,062 X2.4 +19.3% Ordinary income 7,255
Slide 3: Net Sales Quarterly
Net Sales Quarterly （Billions of yen） 1Q net sales hit record high 196.4 193.2 178.7 168.2 167.4 154.8 135.6 127.4 120.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY3/16 FY3/17 FY3/18 August 4, 2017 3
Slide 4: Operating Income Quarterly
Operating Income Quarterly 1Q operating income hit record high Operating income Operating margin (Billions of yen) 17.1 16.1 15.5 14.9 14.3 12.5 11.6 8.5 7.0 9.8% 9.6% 8.9% 8.7% 8.8% 7.5% 7.3% 6.3% 5.8% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY3/16 FY3/17 FY3/18 August 4, 2017 4
Slide 5: Machined Components Quarterly
Machined Components Quarterly Net sales (Billions of yen) Operating income (Billions of yen) Pivot assemblies Operating income Rod-ends/Fasteners Operating margin Ball bearings 42.3 41.0 40.8 41.3 40.6 26.0% 39.8 39.2 25.6% 38.5 24.2% 24.7% 24.5% 24.3% 37.3 26.5% 9.5 25.3% 8.9 7.6 8.4 7.9 24.5% 8.3
Slide 6: Electronic Devices & Components Quarterly
Electronic Devices & Components Quarterly Net sales (Billions of yen) Operating income (Billions of yen) Other Sensing devices Electronic devices Motors Operating income Operating margin 137.8 7.3% 6.6% 0.7 6.5% 9.4 128.7 5.4% 5.5% 5.5% 4.9% 125.8 1.2 0.7 2.5% 8.5 9.7 117.4 114.6 0.9 1.3 0.5% 8.9 12
Slide 7: Mitsumi Business Quarterly
Both net sales and operating income in and before 3Q FY3/17 are Mitsumi Business pre-merger results. 4Q FY3/17 results are based on managerial accounting for the three months. Quarterly Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin 7.1% 7.9% (*1) 2.
Slide 8: Net Income Quarterly
Net Income Quarterly （Billions of yen） 1Q net income hit record high Income attributable to owners of the parent 16.2 Net income per share (yen) 14.2 12.2 11.8 10.1 9.6 39.7 7.7 33.5 31.6 6.8 32.4 26.9 25.5 20.6 18.2 3.2 8.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY3/16 FY3/17 FY3/18 August 4, 2017 8
Slide 9: S.G. & A. Expenses Quarterly
S.G. & A. Expenses Quarterly (Billions of yen) S.G. & A. expenses S.G. & A. to sales ratio 23.8 23.3 18.3 18.4 18.1 18.7 17.0 17.4 17.4 14.5% 13.3% 13.3% 12.1% 11.9% 12.3% 10.9% 10.3% 10.4% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY3/16 FY3/17 FY3/18 August 4, 2017 9
Slide 10: Inventories Quarterly
Inventories Quarterly (Billions of yen) 134.0 126.7 118.1 120.4 103.0 94.5 96.4 96.7 87.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY3/16 FY3/17 FY3/18 August 4, 2017 10
Slide 11: Capital Expenditure & Depreciation Yearly
Capital Expenditure & Depreciation Yearly (Billions of yen) Capital Expenditure Depreciation & Amortization Expenses 43.9 44.0 37.6 34.8 33.0 31.8 28.8 28.2 23.7 20.7 10.7 7.2 Mar.'14 Mar.'15 Mar.'16 Mar.'17 Mar.'18 Mar.'18 1Q Forecast August 4, 2017 11
Slide 12: Net Interest-Bearing Debt/Free Cash Flow Yearly
Net Interest-Bearing Debt/Free Cash Flow Yearly （ (Billions of yen) Net interest-bearing debt Free cash flow 109.9 97.5 93.1 70.9 43.1 36.3 52.5 24.2 24.5 19.9 35.0 -1.1 Mar.'14 Mar.'15 Mar.'16 Mar.'17 Mar.'18 Mar.'18 1Q Forecast August 4, 2017 12
Slide 13: Forecast for Fiscal Year Ending March 31, 2018
Forecast for Fiscal Year Ending March 31, 2018 Expecting net sales, operating income, ordinary income & net income hit record highs FY3/17 FY3/18 (Millions of yen) 1st Half 1st Half 2nd Half Full Year Full Year YoY Initial Forecast Revised Forecast No Change Revised Forecast Net sales 638,926 376,40
Slide 14: Forecast for Business Segment
Forecast for Business Segment FY3/17 FY3/18 (Millions of yen) 1st Half 1st Half 2nd Half Full Year Full Year YoY Initial Forecast Revised Forecast No Change Revised Forecast Net sales 638,926 376,400 43,640 373,600 810,000 +26.8% Machined components 156,310 80,200 81,900 80,800 162,700 +4.1% Electro
Slide 15: Miniature ball bearing demand has been growing
Miniature ball bearing demand has been growing External shipment volume up YoY for 19 consecutive quarters! June volume hits new record high of 187 million units Monthly production volume to hit 300 million units by May 2018! Ball Bearing External Shipment Demand shows no signs (millions/month) of l
Slide 16: LED backlights beat initial forecast
LED backlights beat initial forecast 1Q off to a good start with only usual seasonal drop-off in demand From 2Q demand will get into gear Net Sales of Electronic Devices Smooth kick off this year (Billions of yen) New models for the major customers kicked off 245.0 241.0 without a hitch 220.7 St
Slide 17: Mitsumi business driving profits up
Mitsumi business driving profits up Improved performance in products other than smartphones & game consoles contributed to stabilizing Mitsumi profitability Strong tailwind for smartphones MinebeaMitsumi’s 7 spears and game consoles from 2Q (from Mitsumi’s products) Camera actuator shipment volume
Slide 18: Joint business development agreement signed with Ricoh
Joint business development agreement signed with Ricoh Bed sensor system makes ultimate monitoring dream a reality Sales target for FYE 3/2021 • High precision sensing devices • Mitsumi wireless communication • Systemization technology • Outstanding customer support 3 billion yen (nursing care facil
Slide 19: 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