Minebeamitsumi Inc. · TSE:6479
Minebeamitsumi — Minebea — Q3 FY2013 Earnings Presentation
18 slides from Minebeamitsumi's earnings presentation, Feb 1, 2013
Slide 1: Business Results Third Quarter of Fiscal Year Ending March 31, 2013
Minebea Passion to Exceed Precision Business Results Third Quarter of Fiscal Year Ending March 31, 2013 February 1, 2013 Minebea Co., Ltd.
Slide 2: Consolidated business results for the first nine months
Consolidated business results for the first nine months of the fiscal year ending March 31, 2013, included an 11.4% year-on-year rise in net sales with the total figure for net sales coming to 210,807 million yen. Operating income jumped 54.2% year on year to finish at 10,644 million yen and net inc
Slide 3: Third quarter results summary
The third quarter of the fiscal year ending March 31, 2013 saw net sales reach 71,705 million yen. While that was a 26.4% increase over the same period last year, it was but a slight increase of 1.7% over the previous quarter. Operating income totaled 2,943 million yen, 3.5 times what it was during
Slide 4: Third quarter net sales
Third quarter net sales for the fiscal year ending March 31, 2013, totaled 71.7 billion yen, up only 1.7% from the previous quarter as higher sales in the LED backlight business were offset by declining sales in the Machined Components and the Rotary Components business segments due to the slowdown
Slide 5: Third quarter operating income
Operating income for the third quarter was 2.9 billion yen, down 26.6% from the previous quarter due mainly to a drop in both the Machined Components and Rotary Components business segments despite of an increase in the Electronic Components and Devices business segment. The operating margin decline
Slide 6: Machined Components business segment
Third quarter net sales for the Machined Components business segment dropped 3.1% from the previous quarter to total 26.1 billion yen. Operating income was 5.7 billion yen, down 18.0% from the previous quarter. The operating margin was 22.0%, down 4.0 percentage points from the previous quarter. Thi
Slide 7: Rotary Components business segment
In the Rotary Components business segment, third quarter net sales totaled 24.5 billion yen, down 6.3% from the previous quarter. Operating losses widened by 1.0 billion yen from the previous quarter to reach 1.4 billion yen while the operating margin was negative 5.6%, 4.0 percentage points worse t
Slide 8: Electronic Devices and Components business segment
Third quarter net sales for the Electronic Devices and Components business segment totaled 18.5 billion yen. This 23.7% jump from the previous quarter was due to a significant increase in sales of LED backlights which makes up the bulk of the electronic devices business. Operating income totaled 1.4
Slide 9: Other Business segment
Third quarter net sales for our Other Business segment totaled 2.5 billion yen, up 6.7% from the previous quarter. Operating income was 0.1 billion yen. We expect sales and profits to remain flat for the fourth quarter. 8
Slide 10: Net income for the third quarter
Net income for the third quarter fell 46.3% from the previous quarter to 1.1 billion yen. Net income per share was 2.9 yen. 9
Slide 11: SG&A expenses
Although sales were up from the previous quarter, third quarter SG&A expenses decreased 0.2 billion yen to total 11.6 billion yen due to cost cutting measures. The SG&A expenses- to-sales ratio also dropped 0.6 percentage points, to 16.2%. This ratio rose last year due to a significant decline in sa
Slide 12: Inventories
Although we have responded to sluggish sales by cutting production for ball bearings, pivot assemblies and other products, inventories increased by 5.4 billion yen compared to the end of the previous quarter. This increase is due to the sharp depreciation of the yen against other currencies during t
Slide 13: Capital expenditures and depreciation
Capital expenditures for the first nine months came to 38.3 billion yen. Depreciation and amortization expenses for the period totaled 14.8 billion yen. Capital expenditures for this fiscal year are expected to total 43 billion yen. This figure exceeds spending in recent years since it includes the
Slide 14: Net interest-bearing debts
Net interest-bearing debts, which are interest-bearing debts minus cash and cash equivalents, totaled 149.5 billion yen at the end of the third quarter, up 35.3 billion yen from the end of the previous fiscal year. This increase is due to aggressive production capacity expansion in growth areas, the
Slide 15: Full year forecast unchanged
We do not change at this time our full year forecast for this fiscal year revised on November 2, of last year. Even though the fourth quarter targets have become more challenging to reach in light of the third quarter results, which were less than what was planned, we remain committed. We will work
Slide 16: Minebea buys Panasonic's 40% holding in MMMC
Today, Minebea and Panasonic agreed that Minebea buys all 40% of Panasonic’s holdings in Minebea Motor Manufacturing Corporation (MMMC) to terminate the joint venture between the two companies. MMMC was established to strengthen both companies’ motor businesses in the global market by integrating Mi
Slide 17: Withdrawal from core-less vibration motors market
We decided to withdraw from the market for core-less vibration motors designed for mobile products in order to strengthen the profitability of the Minebea Motor Manufacturing Corporation. Minebea has been using core-less vibration motors, requiring more rare-earth materials than other motors, becaus
Slide 18: Minebea Co., Ltd. Business Results
Minebea Passion to Exceed Precision Minebea Co., Ltd. Business Results http://www.minebea.co.jp/ 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