Minebea Mitsumi Inc U/Adr (MINBY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

I would like to explain the consolidated financial results for the first quarter of the fiscal year ending March 2026. First, regarding numerical notation, figures were previously presented in units of millions or billions of yen. Starting from Q1 of the fiscal year ending March 2026, figures will be presented in units of billions of yen to provide a clearer overview of financial performance. The further details on this change can be found in the disclaimer on page 26. Consolidated net sales for the Q1 of FY March 2026 was up 3.2% year-on-year and down 2.1% quarter-on-quarter to total 366.9 billion yen. Averaging income 17.2% year-on-year and decreased by 35.8% year-on-year. A quarter-on-quarter total of ¥10.9 billion. Both net sales and operating income exceeded the budget. Quarterly net sales hit a record high. Due to the appreciation of yen, there were negative FX impact. To be more specific, negative 13.2 billion yen on net sales, Q1Q, and minus 11.8 billion yen year-on-year. Offering income also saw a negative impact of 1.8 billion yen quarter-on-quarter and 4 billion yen year-on-year. This shows a quarterly trend in net sales operating income and OP margin. The OP margin for the first quarter was 4.8%, down 0.5% point year-on-year and down 0.9% point quarter-on-quarter. This shows a difference between the forecast as of May and actual results for net sales and operating income by business segment for the first quarter. Net sales for PT exceeded the expectations due to strong performance in data center application and robust sales for automotive bearings. MLS exceeded expectation driven primarily by HDD motors and motor for automotive applications. SE significantly exceeded expectations mainly due to strong sales in mechanical components and semiconductors. AS e...