Business Results Business Results First Quarter of Fiscal Year - - PowerPoint PPT Presentation

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Business Results Business Results First Quarter of Fiscal Year - - PowerPoint PPT Presentation

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Business Results Business Results First Quarter of Fiscal Year First Quarter of Fiscal Year Ending March 31, 2012 Ending March 31, 2012 July 29, 2011 Minebea Co., Ltd. Summary of Consolidated Business Results for 1Q Profits declined due to

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SLIDE 1

Business Results

First Quarter of Fiscal Year Ending March 31, 2012

Business Results

First Quarter of Fiscal Year Ending March 31, 2012

July 29, 2011

Minebea Co., Ltd.

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SLIDE 2

July 29, 2011 1

Summary of Consolidated Business Results for 1Q

Profits declined due to supply chain disruption by the Tohoku Earthquake, worse product mix, higher wages and higher startup costs from new factories

FY ending

  • Mar. '12

1Q 4Q 1Q

YoY QoQ Net sales

67,891 63,944 64,802

  • 4.5%

+ 1.3%

Operating income

6,024 4,194 2,303

  • 61.8%
  • 45.1%

Ordinary income

5,600 3,710 1,870

  • 66.6%
  • 49.6%

Net income

3,815 1,816 668

  • 82.5%
  • 63.2%

9.99 4.75 1.76

  • 82.4%
  • 62.9%

1Q of FY

  • Mar. ’11

4Q of FY

  • Mar. ’11

1Q of FY

  • Mar. ’12

¥92.81 ¥81.78 ¥82.04 ¥120.53 ¥110.55 ¥118.54 ¥2.86 ¥2.67 ¥2.72 ¥13.60 ¥12.39 ¥12.57 Change Thai Baht Chinese RMB Net income per share (yen) Foreign exchange rates US$ Euro (Millions of yen) FY ended

  • Mar. '11
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SLIDE 3

July 29, 2011

51.8 57.4 58.7 60.5 67.9 69.8 67.5 63.9 64.8

0.0 20.0 40.0 60.0 80.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

(Billions of yen)

2 2

Net Sales

Quarterly

Decreased 4.5% YoY Increased 1.3% QoQ

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SLIDE 4

July 29, 2011 3

Operating Income

Quarterly

Decreased 61.8% YoY Decreased 45.1% QoQ

(0.6) 2.7 4.4 5.5 6.0 6.3 5.6 4.2 2.3

  • 1.2%

4.7% 7.6% 9.1% 8.9% 9.1% 8.3% 6.6% 3.6%

  • 2%

0% 2% 4% 6% 8% 10% ( 2.0) 0.0 2.0 4.0 6.0 8.0 10.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

Operating income Operating margin

(Billions of yen)

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SLIDE 5

July 29, 2011 4 4

Machined Components Business

Quarterly

Net sales Operating income

* The segment results by new business segment for the fiscal year ended March 2010 is unaudited.

11.8 13.4 14.1 15.0 16.0 15.5 15.1 15.1 15.7 4.9 4.8 4.4 4.7 4.8 4.9 4.9 4.9 5.2 5.9 6.7 6.7 7.0 7.4 6.3 6.6 6.3 6.6

0.0 10.0 20.0 30.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

Ball bearings Rod-ends/Fasteners Pivot assemblies

22.6 24.9 25.1 26.7 28.2

(Billions of yen)

26.8 26.6 26.3 27.5 3.1 4.7 5.9 6.9 7.1 7.3 6.9 6.8 6.3 13.6% 19.1% 23.6% 25.8% 25.2% 27.3% 26.0% 25.8% 22.9% 10% 15% 20% 25% 30% 0.0 2.0 4.0 6.0 8.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

Operating Income Operating Margin (Billions of yen)

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July 29, 2011 5

Rotary Components Business

Quarterly

Net sales Operating income

* The segment results by new business segment for the fiscal year ended March 2010 is unaudited.

0.0 10.0 20.0 30.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

19.420.3 16.1 18.3 24.9

(Billions of yen)

26.7 25.3 24.3 24.3 (1.9) (0.7) 0.4 0.4 0.0 0.3 0.0 (0.5) (0.9)

  • 11.6%
  • 3.9%

2.0% 1.8% 0.0% 1.0% 0.1%

  • 2.1%
  • 3.6%
  • 15%
  • 10%
  • 5%

0% 5% (3.0) (2.5) (2.0) (1.5) (1.0) (0.5) 0.0 0.5 1.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

Operating Income Operating Margin (Billions of yen)

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SLIDE 7

July 29, 2011 6

Electronic Devices & Components Business Quarterly

Net sales Operating income

* The segment results by new business segment for the fiscal year ended March 2010 is unaudited.

1.7 1.5 1.2 1.0 1.5 1.3 0.9 0.4 (0.1) 19.3% 16.3% 12.9% 11.5% 15.4% 12.3% 8.4% 4.7%

  • 1.1%
  • 5%

0% 5% 10% 15% 20% (0.5) 0.0 0.5 1.0 1.5 2.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

Operating Income Operating Margin (Billions of yen)

5.4 6.6 7.0 6.3 6.7 8.2 9.1 7.4 7.4 3.4 2.9 2.0 2.2 3.0 2.5 1.8 1.8 1.5

0.0 2.0 4.0 6.0 8.0 10.0 12.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

Measuring components Electronic devices

8.5 9.0 8.8 9.5 9.7

(Billions of yen)

10.7 10.9 9.2 9.0

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July 29, 2011 7

Other Business

Quarterly

Net sales Operating income

* The segment results by new business segment for the fiscal year ended March 2010 is unaudited.

2.3 2.6 2.7 2.8 2.6 2.7 2.6 2.0 1.8 0.8 0.9 1.0 0.8 0.9 1.1 0.7 0.6 0.7 1.2 1.2 1.4 1.3 1.5 1.9 1.5 1.5 1.5

0.0 2.0 4.0 6.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

Special devices & Other Speakers Keyboards

5.1 5.0 4.3 4.8 5.1

(Billions of yen)

5.7 4.7 4.1 4.0

(0.6) (0.2) 0.0 0.1 0.1 0.3 0.1 (0.1) (0.1)

  • 14.0%
  • 3.8%

0.7% 1.2% 2.2% 6.1% 2.2%

  • 1.5%
  • 1.5%
  • 15%
  • 10%
  • 5%

0% 5% 10% (0.8) (0.4) 0.0 0.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

Operating Income Operating Margin (Billions of yen)

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SLIDE 9

July 29, 2011 8

Net Income

Quarterly

Decreased 82.4% YoY Decreased 62.9% QoQ

(1.7) 1.3 3.9 3.1 3.8 3.5 3.3 1.8 0.7 (4.3) 3.4 10.2 8.1 10.0 9.2 8.7 4.8 1.8

(6.0) (4.0) (2.0) 0.0 2.0 4.0 6.0 8.0 10.0 12.0 (3.0) (2.0) (1.0) 0.0 1.0 2.0 3.0 4.0 5.0 6.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

Net income Net income per share (right axis)

(Billions of yen) (yen)

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July 29, 2011 9

S.G. & A. Expenses

Quarterly

10.3 10.1 10.3 10.3 11.7 11.5 11.0 10.6 11.4

19.9% 17.6% 17.6% 17.1% 17.3% 16.5% 16.3% 16.5% 17.5%

0% 10% 20% 30% 0.0 5.0 10.0 15.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

S.G. & A. expenses S.G. & A. to sales ratio

(Billions of yen)

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July 29, 2011 10

Inventories

Quarterly

37.0 34.7 35.1 35.9 39.3 41.7 42.7 44.0 44.3

0.0 10.0 20.0 30.0 40.0 50.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 10 FY 3/ 11 FY 3/ 12

(Billions of yen)

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July 29, 2011 11

Capital Expenditure & Depreciation

Yearly

*From FY 3/09, due to change in lease accounting, assets of finance leases are included.

24.9 20.2 11.1 27.3 7.2 28.0 26.4 24.0 21.1 20.8 5.1 21.1

0.0 10.0 20.0 30.0

Mar.'08 Mar.'09 Mar.'10 Mar.'11 Mar.'12 1Q Mar.'12 Forecast

Capital Expenditure Depreciation & Amortization Expenses

(Billions of yen)

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July 29, 2011 12

Net Interest-Bearing Debt

Net Interest-bearing debt = Interest-bearing debt – Cash and cash equivalents Free Cash Flow = CF from operating activities + CF from investing activities

Yearly

150.7 146.9 128.5 109.6 110.0 96.9 103.6 108.6 102.0 3.8 9.1 22.7 23.4 12.5 17.7 (4.2) (2.3) 7.0 (10.0) 0.0 10.0 20.0 30.0 40.0 0.0 40.0 80.0 120.0 160.0

Mar.'05 Mar.'06 Mar.'07 Mar.'08 Mar.'09 Mar.'10 Mar.'11 Mar.'12 1Q Mar.'12 Forecast

Net interest-bearing debt Free cash flow (right axis)

(Billions of yen) (Billions of yen) 6.0 101.0

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July 29, 2011 13 13

Forecast for Fiscal Year Ending March 31, 2012

Full year forecast unchanged

FY ended

  • Mar. '11

Full year Upper end Lower end Upper end Lower end Upper end Lower end Net sales

269,139 135,000 123,000 150,000 137,000 285,000 260,000

Operating income

22,163 9,700 8,100 14,800 12,900 24,500 21,000

Ordinary income

20,364 8,700 7,100 13,800 11,900 22,500 19,000

Net income

12,465 4,400 3,300 8,600 7,700 13,000 11,000 32.61 11.60 8.70 22.74 20.36 34.34 29.06

  • Mar. '11

Full year FY ending

  • Mar. '12

Assumption ¥86.04 ¥84.00 ¥113.22 ¥111.00 ¥2.75 ¥2.80 ¥12.78 ¥12.60 Chinese RMB Foreign exchange rates US$ Euro Thai Baht (Millions of yen) Fiscal Year ending Mar. '12 1st Half 2nd Half Full year Net income per share (yen)

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SLIDE 15

July 29, 2011 14

Starting to produce LED backlights for tablet PCs

April 2011: Suzhou LED backlight factory started operation December 2011: expected to start producing LED backlights for tablet PCs

  • Minebea secured big orders as its LED backlights are superior because

they are thinner, brighter and are suitable for tablet PCs.

  • Minebea has already equipped the Suzhou factory with new production

machines so that no extra big investments are necessary.

  • LED backlights will be produced mainly in Suzhou.

August 2011: expected to reach stepped-up production level

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July 29, 2011 15

Construction of new Thai and Cambodian factories

Completed most of the exterior work and start operation in Autumn Multi-purpose ball bearing factory in Thailand Undergoing the foundation work and start operation at the end of 2011 Own factory in Cambodia Building area 28,000㎡ Building area 20,500㎡

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SLIDE 17

July 29, 2011 16

Construction of multi-purpose factory in Lop Buri

Location: Lop Buri, Thailand (site of a planned but stopped pivot assembly factory) Building area: 19,000㎡ Expected to complete: January 2012 (2 months quicker than normal) Specifics: transfer motor parts production lines from existing buildings Rendering of the new factory

Utilizing open space in Lop Buri factory complex

  • Expand LED backlight production capacity by May 2012 due to rapid

expansion of smart phone market Minebea’s total capacity will be 35 million units / month in FY March 2013

  • Expand rod-end bearing production capacity
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SLIDE 18

July 29, 2011

Any statements in the presentation which are not historical fact are future projections made based on certain assumptions and executive judgment drawn from currently available information. Please note that actual performance may vary significantly from any particular projection due to various factors. Factors affecting our actual performance include: (i) changes in economic conditions or demand trends around Minebea; (ii) fluctuation

  • f foreign exchange rates or interest rates; and (iii) our ability to continue R&D, manufacturing and marketing in a timely manner in the

electronics business sector, where technological innovations are rapid and new products are launched continuously. However, this is not a complete list of the factors affecting actual performance. All the information in this document is the property of Minebea Co., Ltd. All parties are prohibited for whatever purpose to copy, modify, reproduce, transmit, etc. this information regardless of ways and means without prior written permission of Minebea Co., Ltd..

Minebea Co., Ltd.

Business Results

http://www.minebea.co.jp/

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