Minebeamitsumi Inc. · TSE:6479
Minebeamitsumi — FY2026 Earnings Presentation
71 slides from Minebeamitsumi's earnings presentation, May 12, 2026
Slide 1: Financial Results Briefing
Financial Results Briefing Fiscal Year Ended March 2026 MinebeaMitsumi Inc. May 12, 2026
Slide 2: Today's Agenda
Today’s Agenda 1. Financial Results Overview and Mid-term Earnings Forecast 2. Management Policy and Business Strategy May 12, 2026 2
Slide 3: Financial Results Overview and Mid-term Earnings Forecast
Financial Results Overview and Mid-term Earnings Forecast Katsuhiko Yoshida Director, President COO & CFO May 12, 2026 3
Slide 4: Summary of Business Results for FY3/26
Summary of Business Results for FY3/26 Both net sales and operating income hit record high Net sales increased for 14th consecutive year (3rd consecutive year of increased net sales and operating income) FY3/25 FY3/26 YoY FY3/26 Full Year (Billions of yen) Full Year Full Year Change Growth Rate As o
Slide 5: Summary of Business Results for 4Q
Summary of Business Results for 4Q Net sales and operating income exceeded the forecast FY3/25 FY3/26 YoY QoQ FY3/26 Full Year (Billions of yen) 4Q 3Q 4Q Change Growth Rate Change Growth Rate As of February Net sales 374.8 453.9 432.2 +57.3 +15.3% -21.8 -4.8% 367.8 Operating income 21.5 ※¹ 31.3 28.3
Slide 6: 4Q Results: Variance from Previous Forecast
4Q Results: Variance from Previous Forecast (February 5, 2026) (Billions of yen) Net Sales Operating Income May 12, 2026 6
Slide 7: Full-Year Trends: Net Sales, Operating Income / Margin
Full-Year Trends: Net Sales, Operating Income / Margin (Billions of yen) Net sales Operating income Operating margin Special factors 1,664.4 Special factors 1,690.0 -5.0 -2.6 1,522.7 Special factors 1,402.1 120.0 1,292.2 10.5 104.0 97.5 94.5 73.5 7.5% 7.1% 6.2% 6.2% 5.2% FY3/23 FY3/24 FY3/25 FY3/26
Slide 8: Quarterly Trends: Net Sales, Operating Income / Margin
Quarterly Trends: Net Sales, Operating Income / Margin (Billions of yen) Net sales Operating income Operating margin 453.9 422.8 Special factors 432.2 Special 411.4 -1.0 Special factors factors 379.7 381.2 -0.3 369.6 374.8 31.3 -1.6 366.9 348.8 355.5 Special factors 27.9 -0.3 28.3 26.2 Special 27.0
Slide 9: Full-Year Trends: Precision Technologies (PT)
Full-Year Trends: Precision Technologies (PT) Net sales (Billions of yen) Operating income (Billions of yen) Ball Bearings Rod-ends/Fasteners PMC Operating income Operating margin 313.0 23.0%* 22.4% 22.1% 32.0 21.8% 21.8% 281.2 70.0 255.7 28.7 24.8 82.5 62.2 Special factors FX forward 211.4 66.0 con
Slide 10: Quarterly Trends: Precision Technologies (PT)
Quarterly Trends: Precision Technologies (PT) Net sales (Billions of yen) Operating income (Billions of yen) Ball Bearings Rod-ends/Fasteners PMC Operating income Operating margin 77.8 8.2 22.6% 22.8% 22.6% 22.8% 70.1 68.4 21.5% 21.5% 66.8 20.8% 21.0% 64.9 64.8 7.7 62.7 6.6 61.4 6.3 18.9% 6.5 6.2 58
Slide 11: Full-Year Trends: Motor, Lighting & Sensing (MLS)
Full-Year Trends: Motor, Lighting & Sensing (MLS) Net sales (Billions of yen) Operating income (Billions of yen) Motors Electronic devices Sensing devices Other Operating income Operating margin 492.0 6.2%* 6.3% 5.8%* 456.5 39.0 5.9% 9.8 5.6% Special factors -1.6 31.0 407.7 38.5 3.2%* 77.0 3.2% 7.4
Slide 12: Quarterly Trends: Motor, Lighting & Sensing (MLS)
Quarterly Trends: Motor, Lighting & Sensing (MLS) Net sales (Billions of yen) Operating income (Billions of yen) Motors Electronic devices Sensing devices Other Operating income Operating margin Special factors -1.6 124.1 7.2% 3.4 6.4% 6.5% 6.4%* 6.3% 113.1 114.2 10.6 5.2% 5.5%* 2.7 4.8% 2.1 106.4 1
Slide 13: Full-Year Trends: Semiconductor & Electronics (SE)
Full-Year Trends: Semiconductor & Electronics (SE) Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin 590.3 9.0%* 530.1 527.6 530.0 7.9% 4.7%* 4.7%* 7.2% 494.7 Special factors 5.3% FX forward 4.2% 4.5% contract -3.1 Others -3.1 Total -6.1 47.8* 41.6 35.5
Slide 14: Quarterly Trends: Semiconductor & Electronics (SE)
Quarterly Trends: Semiconductor & Electronics (SE) Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin 186.7 168.7 8.0% 8.7% 8.7% 5.5%* 6.3%* 157.1 5.1%* 4.9% 4.5% 4.2%* 3.7%* 150.0 1.9% 146.5 0.7% 5.4% 5.8% 4.9% 136.4 3.2% 2.6% 126.1 12.6 12.8 Special fa
Slide 15: Full-Year Trends: Access Solutions (AS)
Full-Year Trends: Access Solutions (AS) Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin 350.0 9.9% 328.1 332.2 5.2%* 322.1 5.1% 5.3% 3.3% 4.9% 1.1%* Special factors 17.3 Special factors -1.2 194.7 19.4 18.5 17.1* 17.1 15.9 10.6 2.1* FY3/23 FY3/24 FY3/
Slide 16: Quarterly Trends: Access Solutions (AS)
Quarterly Trends: Access Solutions (AS) Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin 7.7%* 7.3% 7.2% 5.6% 92.5 5.2% 4.3% 6.2% 87.9 3.7% 83.0 84.4 81.5 82.0 82.0 3.4% 4.0% 80.2 78.9 78.9 6.7 77.6 2.3% 6.4 2.7% Special factors -1.2 73.6 0.2% 6.5 * 5.
Slide 17: Full-Year Trends: Profit Attributable to Owners / EPS
Full-Year Trends: 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) Special factors 25.2 99.0 83.0 73.2 73.8 * 59.5 246.60 54.0 206.68 178.23 183.87* 147.58 133.05 FY3/23 FY3/24 FY3/25 FY3/26
Slide 18: Quarterly Trends: Profit Attributable to Owners / EPS
Quarterly Trends: Profit Attributable to Owners of the Parent / EPS Special factors 25.2 (Billions of yen) Profit for the period attributable to owners of the parent Earnings per share, basic (yen) 49.2 122.46 *² 24.0 21.3 18.3 59.73*² 17.4 17.0 17.7 16.4 15.2 13.1 11.9 10.9 52.96 45.32 43.36 44.07
Slide 19: Quarterly Trends: Inventories
Quarterly Trends: Inventories (Billions of yen) Inventories 402.1 411.7 391.3 370.8 359.6 356.6 350.9 335.8 303.3 302.8 300.5 294.9 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/24 FY3/25 FY3/26 May 12, 2026 19
Slide 20: Full-Year Trends: Operating/Investing/Free Cash Flow
Full-Year Trends: Operating/ Investing/ Free/ Adjusted Free Cash Flow (Billions of yen) Operating cash flow Investing cash flow Free cash flow 161.4 Adjusted cash flow* 133.7 101.8 94.8 69.0 48.9 44.1 32.7 14.0 -7.5 25.5 7.9 12.0 -62.2 -76.3 -82.8 -92.4 -106.3 -125.8 FY3/23 FY3/24 FY3/25 FY3/26 FY3/
Slide 21: ROIC (Return On Invested Capital)
ROIC (Return On Invested Capital) MinebeaMitsumi ＝ NOPAT Operating income 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/payable, inventories, non-curre
Slide 22: Segment Changes
Segment Changes To further enhance synergy, related businesses and core technologies are consolidated From FY3/27 Segment Until FY3/26 Onward Bearings Precision Large-sized machined components Technologies (renamed) Aerospace for aircraft and other applications （PT） PMC Motors Motor, Lighting Electr
Slide 23: Mid-term Earnings Forecast
Mid-term Earnings Forecast May 12, 2026 23
Slide 24: Mid-term Earnings Forecast
(Assuming organic growth without large-scale M&A (on the scale Mid-term Earnings Forecast of Mitsumi Electric)) FY3/26 FY3/27 FY3/28 FY3/29 (Billions of yen) Full Year Full Year Full Year Full Year Net sales 1,664.4 1,690.0 1,800.0 1,900.0 Operating income ※¹ 104.0 120.0 145.0 168.0 Profit before ta
Slide 25: Forecast for Business Segment
Forecast for Business Segment FY3/26 FY3/27 FY3/28 FY3/29 (Billions of yen) Full Year Full Year Full Year Full Year Net sales 1,664.4 1,690.0 1,800.0 1,900.0 Precision Technologies (PT) 281.2 313.0 340.0 360.0 Motor, Lighting & Sensing (MLS) 456.5 492.0 526.0 560.0 Semiconductor & Electronics (SE) 5
Slide 26: Mid-term Forecast: Operating/Investing/Free Cash Flow
Mid-term Forecast: Operating/ Investing/ Free/ Adjusted Free Cash Flow (Billions of yen) Operating cash flow Investing cash flow 177.0 Free cash flow 161.4 167.0 Adjusted cash flow* 94.8 69.0 77.0 87.0 14.0 12.0 -82.8 -90.0 -90.0 -92.4 FY3/26 FY3/27 FY3/28 FY3/29 Adjustments (Billions of yen) 2.0 ー
Slide 27: Mid-term Cash Allocation Plan
Mid-term Cash Allocation Plan Cash Allocation Policy ✓ Allocate 50% of generated operating cash flow to capital expenditures to fund organic growth. ✓ Allocate the remaining 50% equally to shareholder returns and M&A (including debt financing). Cash Allocation Plan FY3/24 - FY3/26 Results FY3/27 - F
Slide 28: Mid-term Forecast: ROIC
Mid-term Forecast: ROIC (Return On Invested Capital) MinebeaMitsumi ＝ NOPAT Operating income 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/payable, inv
Slide 29: Management Policy & Business Strategy
Management Policy & Business Strategy May 12, 2026 Representative Director, Chairman CEO Yoshihisa Kainuma May 12, 2026 29
Slide 30: FY3/26 Highlights
FY3/26 Highlights ⚫ Despite a challenging external environment, both net sales and OP exceeded forecasts, with net sales reaching a record high for the 14th consecutive year. OP surpassed the 100 billion yen milestone. ⚫ Data centers and automotive content growth are driving growth. Overall ⚫ Five g
Slide 31: FY3/27 Earnings Forecast
FY3/27 Earnings Forecast Net sales and operating income expected to hit record highs for the 4th consecutive year ⚫ PT, MLS, and AS expected to increase both net sales and operating income. FY3/27 ⚫ SE expected to see a decrease in net sales due to lower sales of mechanical components, while Key poi
Slide 32: Precision Technologies Segment (PT) Outlook
Precision Technologies Segment (PT) Outlook Operating income for FY3/26 significantly exceeding 60 billion yen driven by growth markets, targeting the 70 billion yen milestone for FY3/27 Ball bearing sales PMC sales Operating margin Key points Aerospace sales Operating income 1 360.0 Bearings 340.0
Slide 33: Motor, Lighting & Sensing Segment (MLS) Outlook
Motor, Lighting & Sensing Segment (MLS) Outlook Focusing on the market of AI server, new mobility, and humanoid robot Aim for a 10% operating margin in motors through enhanced profitability Motor sales Sensing device sales Operating income Key points Electronic device sales Other sales Operating mar
Slide 34: Semiconductor & Electronics (SE) Outlook
Semiconductor & Electronics (SE) Outlook Semiconductors aiming for net sales of 170 billion yen and an operating margin exceeding 20% through organic growth. Optical devices recovering profitability toward 2030 Key points Net sales Operating income Operating margin Real operating margin 1 Semiconduc
Slide 35: Access Solutions Segment (AS) Outlook
Access Solutions Segment (AS) Outlook Set a new record* for operating income following the business integration Accelerated the development and mass production of high-value-added new products, establishing a solid foundation for a 10% operating margin *Excluding special factors Key points Sales Ope
Slide 36: Mid-term Earnings Forecast
Mid-term Earnings Forecast May 12, 2026 36
Slide 37: Mid-term forecast (Plan A) Large-scale M&A
Mid-term forecast (Plan A) Large-scale M&A (on the scale of MITSUMI ELECTRIC) （Billions of yen） within the next 3 years Net Sales（Excl. M&A） 2,500 Net Sales from major M&As FY3/26-FY3/29 CAGR Net sales 2.5 trillion yen In the event of a successful M&A deal on a Operating margin scale similar to that
Slide 38: Mid-term forecast (Plan B) Assuming no major M&A
Mid-term forecast (Plan B) Assuming no major M&A transactions Net sales will grow for the 17th consecutive fiscal year (aiming for 6 consecutive years of revenue and profit growth) target a real operating margin of 10% （Billions of yen） Net Sales (Excl. M&A) Net sales 1.9 trillion yen 2,000 FY3/26-F
Slide 39: Operating Income Projection in Plan B
Operating Income Projection in Plan B Incremental growth from new products & production Full-year forecast outlook for 3 years later (FY3/29) expansion (3-year period) (Billions of yen) (Billions of yen) Business Incremental Incremental Operating Business Operating Segment Sales OP Margin Sales OP S
Slide 40: Market Outlook for the Next 3 Years
Market Outlook for the Next 3 Years Market Outlook • AI server-related demand remains extremely strong. • Regarding cooling methods, while water cooling adoption is progressing, air cooling (fans) is expected to remain the mainstream. • Although automotive production volume is flat, the number of co
Slide 41: Drivers for Mid-term Earnings Forecast
Drivers for Mid-term Earnings Forecast The Five Growth Areas plus one "Reliability" generated by ultra-precision technology driving high value added initiatives in the Five Growth Areas plus one The “5 Growth Areas”＋１ Net sales FY3/29 Net sales The “5 Growth Areas”＋１ (Focus Applications) （billions o
Slide 42: The Five Growth Areas: AI Servers
The Five Growth Areas：AI Servers Market growth continues. Growing demand for reliability and added value in high-load environments Liquid cooling is an opportunity, not a risk. Both volume and applications are expanding Numerous orders received from Taiwan's top 3 companies, Market CAGR Net sales CA
Slide 43: The Five Growth Areas: Humanoid Robots
The Five Growth Areas：Humanoid Robots To prepare for medium-to-long-term growth in demand, strengthen global sales efforts and advanced R&D Market CAGR Expanding sales to enter the markets of major North American and Chinese (CY25-CY35) companies; winning orders in North America is progressing Body
Slide 44: The Five Growth Areas: Commercial Drones
The Five Growth Areas: Commercial Drones Expanding motor applications for safe flight as drone designs diversify with increasing commercialization Market CAGR (CY25-CY35) Winning orders Chinese and North American manufacturers Growing inquiries for motors from Western drone makers and for bearings f
Slide 45: The Five Growth Areas: Fully Autonomous Driving (LiDAR)
The Five Growth Areas: Fully Autonomous Driving (LiDAR) Contributing to safety and reliability for full-scale market growth through ultra-precision technology Market CAGR (CY25-CY35) Applying high-precision technology cultivated in HDDs to automotive applications Proven track record with major Chine
Slide 46: The Five Growth Areas: New Mobility
The Five Growth Areas: New Mobility A new era for vehicle cabins: pursuing comfort and advanced functionality as mobile spaces Market CAGR Expanding adoption of new products such as pillar-to-pillar displays (CY25-CY35) Approx. 6% Infotainment Climate control ECU cooling E-Vent Seats (Global market
Slide 47: Plus One: Aircraft
Plus One: Aircraft Ensuring high safety and quality standards through ultra-precision technology and global supply capabilities Market CAGR Building a robust global network across Europe, the U.S., India, Japan, and (CY25-CY27) Thailand, while expanding plants in the following locations Approx. 8% I
Slide 48: Initiatives to Improve Profitability (1) Business Portfolio Management
Initiatives to Improve Profitability (1) Business Portfolio Management ① Connector business (SE Segment): Divestiture of UK subsidiary by HONDA TSUSHIN KOGYO (announced July 2025) ✓ All shares of HTK Europe Limited (UK) held by HONDA TSUSHIN KOGYO were sold to SUN-WA TECHNOS. ② Power supply business
Slide 49: Initiatives to Improve Profitability (2) Business Activities
Initiatives to Improve Profitability (2) Business Activities Implement company-wide actions to enhance productivity and profitability R&D Manufacturing Sales Focus development resources on Comprehensive Shift KPIs from pursuing sales and the five growth areas plus one productivity improvement market
Slide 50: M&A Measures to Strengthen Motor Business
M&A Measures to Strengthen Motor Business Acquisition of automotive motor and automotive cooling fan motor businesses from Panasonic Industry Overview of the acquired business Integration synergies Target Panasonic Industry Co., Ltd.'s automotive motor business and business automotive cooling fan mo
Slide 51: Today's Key Points
Today's Key Points PT MLS SE MLS High volume of inquiries Global expansion of Shiga semiconductor for bearings, sensors, etc. battery protection modules plant achieving profitability • Utilization rate improved through expansion • Shift toward high-reliability components in • Rapidly increasing dema
Slide 52: Shareholder Returns
Shareholder Returns Planned dividend increase of 10 yen for the current fiscal year Dividends Interim Year-end Annual YoY Change (Annual) FY 3/26 25 yen 25 yen 50 yen +5 yen FY 3/27 30 yen 30 yen 60 yen +10 yen （Forecast） Regarding the annual dividend for FY3/27, our policy is to determine the amoun
Slide 53: EPS Growth Rate and ROE (Excl. Special Factors)
EPS Growth Rate and ROE (Excl. Special Factors) Driven by strengthened profitability, achieve further growth in EPS and improved ROE EPS(yen) EPS(5-year moving average）(yen) ROE 298.81 20.8% FY3/29 Plan 253.99 ROE of 15% 17.3% or more 15.9% 15.9% 206.68 (FY3/26 9.1%) 14.9% 13.9% 14.4% 178.23 183.87
Slide 54: ESG (Environment)
ESG（Environment） Promoting environmental impact reduction and renewable energy transition toward a decarbonized society MMI Roadmap toward a Decarbonized Society – Greenhouse gas Key points emissions and reduction targets (Scope 1, 2) ( 1000t‐CO2) （Billions of yen） Environmental impact reduction ini
Slide 55: Topics
Topics Pasona Group to open proactive wellness retreat facility MinebeaMitsumi, supporting global rotation technology, "THE PASONA natureverse retreat", featuring Sensor-Integrated Bed appointed as the presenting partner for the world class skateboard co-developed by NITORI and MinebeaMitsumi league
Slide 56: 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 57: Reference
Reference May 12, 2026 57
Slide 58: S.G.&A. Expense / Ratio
S.G.&A. Expense / Ratio (Billions of yen) S.G.&A. expenses S.G.&A. to sales ratio 49.7 46.9 47.8 45.8 45.1 45.9 43.6 44.4 41.6 42.7 39.9 38.1 13.0% 12.5% 12.2% 12.3% 12.0% 12.0% 10.9% 11.4% 11.5% 10.5% 10.8% 10.5% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/24 FY3/25 FY3/26 May 12, 2026 58
Slide 59: Capital Expenditure / D&A Expense
Capital Expenditure / D&A Expense (Billions of yen) Capital expenditure Depreciation & Amortization expenses 147.0* 94.8 96.5 95.0 83.6 75.0 70.4 66.2 58.4 53.0 FY3/23 FY3/24 FY3/25 FY3/26 FY3/27 * Capital expenditures of FY3/23 include new HQ building acquisition expenses May 12, 2026 59
Slide 60: Forecast for FY3/27
Forecast for FY3/27 Forecasting 4 consecutive year of record highs for both net sales and operating income FY3/26 FY3/27 YoY (Billions of yen) Full Year 1st Half 2nd Half Full Year Change Growth Rate Net sales 1,664.4 846.5 843.5 1,690.0 +25.6 +1.5% Operating income ※¹ 104.0 53.0 67.0 120.0 +16.0 +1
Slide 61: Forecast for Business Segment
Forecast for Business Segment FY3/26 FY3/27 YoY (Billions of yen) Full Year 1st Half 2nd Half Full Year Change Growth Rate Net sales 1,664.4 846.5 843.5 1,690.0 25.6 +1.5% Precision Technologies (PT) 281.2 155.0 158.0 313.0 31.8 +11.3% Motor, Lighting & Sensing (MLS) 456.5 240.0 252.0 492.0 35.5 +7.
Slide 62: FY3/26 Estimates: By Product Portfolio
FY3/26 Estimates: By Product Portfolio Net Sales: FY3/26 Estimates （Billions of yen） Net New Areas Existing Areas sales Total FY3/25 AI Humanoid Fully New Automo Home robots Drones autonomous Aircraft Subtotal Other Subtotal servers driving mobility tive appliances Bearings (PT) 256.0 30.0 ー 2.0 1.0
Slide 63: FY3/29 Estimates: By Product Portfolio
FY3/29 Estimates: By Product Portfolio Net Sales: FY3/29 Estimates （Billions of yen） Net New Areas Existing Areas sales Total FY3/26 AI Humanoid Fully New Automo Home robots Drones autonomous Aircraft Subtotal Other Subtotal servers driving mobility tive appliances Bearings (PT) 281.0 40.0 1.0 3.0 3
Slide 64: History of 17 years
History of 17 years May 12, 2026 64
Slide 65: Track Record for 17 years - Financial Results
Track Record for 17 years - Financial Results - Building a foundation for sustainable business growth through both organic and M&A (Billions of yen) FY3/09 FY3/26 Multiple Record High FY3/26 Sales 256.2 1,664.4 x6.5 1,664.4 （IFRS） FY3/26 Operating Income 13.4 104.0 x7.8 104.0 （IFRS） Profit for the p
Slide 66: Trends of Sales
Trends of Sales Sales CAGR（FY3/09-FY3/26) (Billions of yen) 12％ 1,900.0 1,800.0 1,690.0 1,664.4 1,522.7 1,402.1 1,292.2 Actual / Forecast 1,124.1 1st year of mid-term Business Plan 988.4 978.4 3rd year of mid-term Business Plan 879.1 884.7 638.9 609.8 500.7 256.2 269.1 282.4 371.5 251.4 228.4 ※ ※※ 0
Slide 67: Trends of OP
Trends of OP 2000 （Billions of yen） OP CAGR（FY3/09-FY3/26) 13％ 1800 168.0 1600 145.0 1400 120.0 1200 97.5 104.0 Actual / Forecast 1000 1st year of mid-term Business Plan 92.1 94.5 3rd year of mid-term Business Plan 87.0* 73.5 800 72.0 Excl. 79.2 Special factors 58.6 600 60.1 51.2 51.4 49.0 400 32.2
Slide 68: 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) 17 years （FY3/10-FY3/26） 17 years of results 29 M&As 29 M&As Total enterprise value of 29 integrated Approx.
Slide 69: Cash-generating capabilities backed by high profitability
EBITDA/Net Interest-bearing Debts/Free Cash Flows Cash-generating capabilities backed by high profitability （Billions of yen） 241.4 246.8 EBITDA Net interest-bearing debts Free cash flows 208.6 201.7 174.4 160.7 150.6 136.2 137.4 131.9 114.2 103.6 109.9 110.8 108.4 99.8 96.9 93.1 97.5 104.9 84.4 86.
Slide 70: EPS: Growth of 9 times from FY3/09 to FY3/26
Growth in earnings per share (EPS*) (Excl. Special Factors) EPS：Growth of 9 times from FY3/09 to FY3/26(10-year moving average base) Comparison of EPS (indexed with March 2009 as 1) 10 9.0 8 6 4 2 1.5 0 FY3/9 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
Slide 71: ROE: FY3/09-FY3/26 average actual 11.0%
Growth in return on equity (ROE*) (Excl. Special Factors) ROE： 20.0 FY3/09-FY3/26 average actual 11.0％ （%） ROE ROE（Excluding foreign currency translation adjustments） 16.2 14.9 14.9 15.0 15.9 14.0 14.8 13.9 11.6 11.5 12.5 10.0 9.2 9.6 10.0 9.1 8.2 8.1 The cost of capital is assumed to be approximate