MinebeaMitsumi Inc. · TSE:6479
MinebeaMitsumi — Minebea — Q1 FY2014 Earnings Presentation
16 slides from MinebeaMitsumi's earnings presentation, Jul 31, 2013
Slide 1: Business Results First Quarter of Fiscal Year Ending March 31, 2014
Business Results First Quarter of Fiscal Year Ending March 31, 2014 July 31, 2013 Minebea Co., Ltd.
Slide 2: Summary of Consolidated Business Results for 1Q
Summary of Consolidated Business Results for 1Q Demand up for ball bearings, LED backlights and other major products FY ended FY ending Change (Millions of yen) Mar. '13 Mar. '14 1Q 4Q 1Q YoY QoQ Net sales 68,621 71,601 85,317 +24.3% +19.2% Operating income 3,693 -474 3,538 -4.2% N.M. Ordinary incom
Slide 3: Net Sales Quarterly
Net Sales Quarterly (Billions of yen) Increased 24.3% YoY Increased 19.2% QoQ 100.0 85.3 80.0 71.7 71.6 67.6 68.6 70.5 64.8 62.2 60.0 56.7 40.0 20.0 0.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/12 FY 3/13 FY 3/14 July 31, 2013 2
Slide 4: Operating Income Quarterly
Operating Income Quarterly Decreased 4.2% YoY Turned positive QoQ (Billions of yen) 6.0 5.5% 5.4% 5.7% 6% 4.1% 4.1% 3.6% 3.7 3.7 4.0 4.0 3.5 4% 2.7% 2.9 2.3 2.0 1.5% 1.7 2% 0.9 0.0 0% (0.5) -0.7% (2.0) -2% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/12 FY 3/13 FY 3/14 Operating income Operating margin July 31,
Slide 5: New Business Segments
New Business Segments Structural reorganization leads to new business segment classification Old business segments New business segments (for FY ended Mar. 2013) (for FY ending Mar. 2014) Machined components Machined components unchanged Ball bearings Ball bearings Rod-ends/Fasteners Rod-ends/Fasten
Slide 6: Machined Components Business Quarterly
Machined Components Business Quarterly Net sales Operating income (Billions of yen) Pivot assemblies Rod-ends/Fasteners 40.0 Ball bearings Operating Income Operating Margin (Billions of yen) 34.1 8.0 7.5 7.1 7.0 30.0 30.5 6.9 30.0 8.5 6.5 30% 27.5 27.1 28.0 6.3 27.0 26.1 7.4 6.0 5.7 24.4 8.7 26.1% 5
Slide 7: Electronic Devices & Components Business Quarterly
Electronic Devices & Components Business Quarterly Net sales * The segment results by new business segment for the fiscal year ended March 2013 are unaudited. (Billions of yen) Operating income 60.0 Other (Billions of yen) Measuring components Operating Income 5% Electronic devices Operating Margin
Slide 8: Net Income Quarterly
Net Income Quarterly Increased 66.0% YoY Turned positive QoQ (Billions of yen) (yen) 8.0 16.4 20.0 6.2 6.0 7.7 10.0 5.6 5.4 4.0 4.6 2.9 1.8 2.9 2.1 2.0 2.0 1.7 0.0 1.1 0.7 (8.1) (8.0) 0.0 (10.0) (2.0) (3.1) (3.0) (4.0) (20.0) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/12 FY 3/13 FY 3/14 Net income Net income p
Slide 9: S.G. & A. Expenses Quarterly
S.G. & A. Expenses Quarterly (Billions of yen) 15.0 13.0 11.8 12.0 30% 11.4 11.7 11.6 11.1 10.9 10.9 10.0 19.2% 17.5% 17.6% 20% 17.1% 16.7% 16.4% 16.8% 16.2% 15.2% 5.0 10% 0.0 0% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/12 FY 3/13 FY S.G. & A. expenses S.G. & A. to sales ratio 3/14 July 31, 2013 8
Slide 10: Inventories Quarterly
Inventories Quarterly (Billions of yen) 60.2 59.1 60.0 58.2 54.8 51.8 49.0 50.0 45.3 46.5 44.3 40.0 30.0 20.0 10.0 0.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/12 FY 3/13 FY 3/14 July 31, 2013 9
Slide 11: Capital Expenditure & Depreciation Yearly
Capital Expenditure & Depreciation Yearly (Billions of yen) 50.0 Capital Expenditure Depreciation & Amortization Expenses 43.7 40.0 30.0 26.4 27.3 27.3 24.9 24.0 20.2 21.1 20.8 19.6 20.8 20.9 21.7 20.0 11.1 10.0 5.9 5.9 0.0 Mar.'08 Mar.'09 Mar.'10 Mar.'11 Mar.'12 Mar.'13 Mar.'14 Mar.'14 1Q Forecast
Slide 12: Net Interest-Bearing Debt Yearly
Net Interest-Bearing Debt Yearly (Billions of yen) (Billions of yen) 160.0 Net interest-bearing debt 90.0 Free cash flow (right axis) 136.2 137.4 128.6 120.0 114.2 60.0 109.6 110.0 103.6 96.9 80.0 23.4 30.0 12.5 7.8 17.7 40.0 0.0 (4.2) (1.8) (8.8) (14.8) 0.0 (30.0) Mar.'08 Mar.'09 Mar.'10 Mar.'11 Ma
Slide 13: Forecast for Fiscal Year Ending March 31, 2014
Forecast for Fiscal Year Ending March 31, 2014 1H forecast revised upward due to higher external shipment volume for ball bearings, growing LED backlight sales and fewer losses from motors. FY ended Fiscal Year ending Mar. '14 Mar. '13 (Millions of yen) 1H 1H 2H Full Year Amount YoY Full Year Initia
Slide 14: Forecast for Business Segment
Forecast for Business Segment FY ended FY ending Mar. '14 Mar. '13 (Millions of yen) 1H 1H 2H Full Year Amount YoY Full Year Initial Revised Forecast Revised Change % Change Forecast Forecast (No Change) Forecast Net sales 282,409 155,500 178,500 +23,000 164,500 343,000 +21.5% Machined components 11
Slide 15: Acquisition of CEROBEAR GmbH
Acquisition of CEROBEAR GmbH New Hampshire Ball Bearings, Inc., Minebea's wholly-owned U.S. subsidiary, acquired all shares of CEROBEAR GmbH of Germany. ・ CEROBEAR manufactures and markets ceramic bearings in addition to hybrid bearings in Europe as well as the U.S. for use in a wide variety of indu
Slide 16: Minebea Co., Ltd.
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 actual performance may vary significantly