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

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

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Business Results Business Results Third Quarter of Fiscal Year Third Quarter of Fiscal Year Ending March 31, 2011 Ending March 31, 2011 February 2, 2011 Minebea Co., Ltd. Summary of Consolidated Business Results for 1Q-3Q Despite currency

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SLIDE 1

Business Results

Third Quarter of Fiscal Year Ending March 31, 2011

Business Results

Third Quarter of Fiscal Year Ending March 31, 2011

February 2, 2011

Minebea Co., Ltd.

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SLIDE 2

February 2, 2011 1

Summary of Consolidated Business Results for 1Q-3Q

Despite currency impacts such as the stronger yen, demand recovery and cost cutting pushed net sales and profits higher

FY ended

  • Mar. '10

FY ending

  • Mar. '11

Change

1Q-3Q 1Q-3Q

YoY Net sales

167,984 205,195 + 22.2%

Operating income

6,564 17,969 x 2.7

Ordinary income

5,017 16,653 x 3.3

I ncome before income taxes

4,537 15,845 x 3.5

Net income

3,571 10,649 x 3.0 9.19 27.86 x 3.0

1Q-3Q of FY

  • Mar. ’10

1Q-3Q of FY

  • Mar. ’11

¥93.91 ¥87.46 ¥132.77 ¥114.11 ¥2.75 ¥2.77 ¥13.74 ¥12.91 Euro Thai Baht Chinese RMB (Millions of yen) Net income per share (yen) Foreign exchange rates US$

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SLIDE 3

February 2, 2011 2

Summary of Consolidated Business Results for 3Q

Currency impacts such as the stronger yen and a pose in growth of demand for some products affected results QoQ

FY ended

  • Mar. '10

3Q 2Q 3Q

YoY QoQ Net sales

58,716 69,803 67,500 + 15.0%

  • 3.3%

Operating income

4,449 6,346 5,597 + 25.8%

  • 11.8%

Ordinary income

3,988 5,935 5,117 + 28.3%

  • 13.8%

I ncome before income taxes

3,808 5,511 4,741 + 24.5%

  • 14.0%

Net income

3,936 3,502 3,331

  • 15.4%
  • 4.9%

10.16 9.16 8.71

  • 14.3%
  • 4.9%

3Q of FY

  • Mar. ’10

2Q of FY

  • Mar. ’11

3Q of FY

  • Mar. ’11

¥89.49 ¥86.58 ¥82.99 ¥132.51 ¥109.31 ¥112.50 ¥2.68 ¥2.70 ¥2.75 ¥13.08 ¥12.73 ¥12.40 Change Thai Baht Chinese RMB Net income per share (yen) Foreign exchange rates US$ Euro (Millions of yen) FY ending

  • Mar. '11
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SLIDE 4

February 2, 2011 3 3

Net Sales

Quarterly

Increased 15.0% YoY Decreased 3.3% QoQ

74.0 76.6 59.2 46.4 51.8 57.4 58.7 60.5 67.9 69.8 67.5

0.0 20.0 40.0 60.0 80.0 100.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 09 FY 3/ 10 FY 3/ 11

(Billions of yen)

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SLIDE 5

February 2, 2011 4

Operating Income

Quarterly

Increased 25.8% YoY Decreased 11.8% QoQ

6.3 6.0 5.5 4.4 2.7 (0.6) 5.1 6.6 4.5 (2.8) 5.6 9.1% 8.9% 9.1% 7.6% 4.7%

  • 1.2%
  • 6.1%

7.7% 8.6% 6.9% 8.3%

(8.0) (6.0) (4.0) (2.0) 0.0 2.0 4.0 6.0 8.0 10.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 09 FY 3/ 10 FY 3/ 11

  • 8%
  • 6%
  • 4%
  • 2%

0% 2% 4% 6% 8% 10%

Operating income Operating margin

(Billions of yen)

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SLIDE 6

February 2, 2011 5 5

Machined Components Business

Quarterly

Net sales Operating income

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

6.9 7.3 7.1 6.9 5.9 4.7 3.1 26.0% 27.3% 25.2% 25.8% 23.6% 19.1% 13.6% 0.0 2.0 4.0 6.0 8.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 10 FY 3/ 11 10% 15% 20% 25% 30% Operating Income Operating Margin

(Billions of yen) 11.8 13.4 14.1 15.0 16.0 15.1 15.5 4.7 4.8 4.4 4.8 4.9 4.9 4.9 6.3 7.4 7.0 6.7 6.7 5.9 6.6

0.0 10.0 20.0 30.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 10 FY 3/ 11 Ball bearings Rod-ends/Fasteners Pivot assemblies 22.6 24.9 25.1 26.7 28.2

(Billions of yen)

26.8 26.6

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SLIDE 7

February 2, 2011 6

Rotary Components Business

Quarterly

Net sales Operating income

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

0.4 0.4 0.0 (1.9) (0.7) 0.3 0.0

  • 11.6%
  • 3.9%

2.0% 1.8% 0.0% 1.0% 0.1% (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 FY 3/ 10 FY 3/ 11

  • 15%
  • 10%
  • 5%

0% 5% Operating Income Operating Margin

(Billions of yen)

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

19.4 20.3 16.1 18.3 24.9

(Billions of yen)

26.7 25.3

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February 2, 2011 7

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 0.9 1.3 1.5 1.0 1.2 1.5 12.3% 11.5% 8.4% 15.4% 12.9% 16.3% 19.3% 0.0 0.5 1.0 1.5 2.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 10 FY 3/ 11 0% 5% 10% 15% 20% Operating Income Operating Margin

(Billions of yen) 8.2 9.1 2.5 1.8 6.3 6.7 6.6 5.4 7.0 3.4 2.9 2.0 2.2 3.0

0.0 2.0 4.0 6.0 8.0 10.0 12.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 10 FY 3/ 11 Measuring components Electronic devices 8.5 9.0 8.8 9.5 9.7

(Billions of yen)

10.7 10.9

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SLIDE 9

February 2, 2011 8

Other Business

Quarterly

Net sales Operating income

* The segment results by new business segment for the fiscal year ended March 2010 is unaudited. 0.1 0.3 (0.6) (0.2) 0.0 0.1 0.1

  • 14.0%
  • 3.8%

0.7% 2.2% 2.2% 1.2% 6.1% (0.8) (0.4) 0.0 0.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 10 FY 3/ 11

  • 20%
  • 15%
  • 10%
  • 5%

0% 5% 10% Operating Income Operating Margin

(Billions of yen)

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

0.0 2.0 4.0 6.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 10 FY 3/ 11 Special devices & Other Speakers Keyboards 5.1 5.0 4.3 4.8 5.1

(Billions of yen)

5.7 4.7

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SLIDE 10

February 2, 2011 9

Net Income

Quarterly

Decreased 15.4% YoY Decreased 4.9% QoQ

3.3 3.5 3.8 3.1 3.9 1.3 3.6 2.4 2.6 (1.7) (6.2) 8.7 9.2 10.0 8.1 10.2 3.4 6.2 9.0 6.6 (4.3) (15.6)

(8.0) (6.0) (4.0) (2.0) 0.0 2.0 4.0 6.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 09 FY 3/ 10 FY 3/ 11 (20) (15) (10) (5) 5 10 15

Net income Net income per share (right axis)

(Billions of yen) (yen)

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February 2, 2011 10

S.G. & A. Expenses

Quarterly

12.3 12.6 10.9 11.0 9.8 10.3 10.1 10.3 10.3 11.7 11.5

16.3% 17.3% 17.1% 17.6% 17.6% 19.9% 21.2% 18.4% 16.5% 16.6% 16.5%

0.0 5.0 10.0 15.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 09 FY 3/ 10 FY 3/ 11 0% 10% 20% 30% S.G. & A. expenses S.G. & A. to sales ratio

(Billions of yen)

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February 2, 2011 11

Inventories

Quarterly

40.9 38.7 39.3 41.7 42.7 45.4 46.4 35.9 34.7 37.0 35.1

0.0 10.0 20.0 30.0 40.0 50.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/ 09 FY 3/ 10 FY 3/ 11

(Billions of yen)

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February 2, 2011 12

Capital Expenditure & Depreciation

Yearly

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

24.0 21.1 17.0 24.9 20.2 11.1 22.7 30.0 26.4 15.6 22.6 24.6

0.0 10.0 20.0 30.0

Mar.'07 Mar.'08 Mar.'09 Mar.'10 Mar.'11 1Q-3Q Mar.'11 Forecast

Capital Expenditure Depreciation & Amortization Expenses

(Billions of yen)

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SLIDE 14

February 2, 2011 13

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

146.9 109.6 110.0 96.9 109.3 103.0 128.5 150.7 3.8 (3.5) (9.6) 17.7 12.5 22.7 23.4 9.1 0.0 40.0 80.0 120.0 160.0

Mar.'05 Mar.'06 Mar.'07 Mar.'08 Mar.'09 Mar.'10 Mar.'11 1Q-3Q Mar.'11 Forecast

(10.0) 0.0 10.0 20.0 30.0 40.0

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

(Billions of yen) (Billions of yen)

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February 2, 2011 14 14

Forecast for Fiscal Year Ending March 31, 2011

Full year forecast unchanged

(Full year assumption rates are based on actual numbers in 1Q-3Q and assumed rates in 4Q)

FY ended

  • Mar. '10

Full Year Full Year Forecast(A) YoY

Net sales 228,446 274,000 19.9% Operating income 12,059 25,000 x 2.1 Ordinary income 10,203 23,100 x 2.3 9,261 21,000 x 2.3 Net income 6,662 13,500 x 2.0 17.20 35.32 x 2.1

FY Mar. '10 Full year Full Year Assumption

¥93.04 ¥85.85 ¥131.10 ¥113.34 ¥2.74 ¥2.75 ¥13.61 ¥12.73 Net income per share (yen) Euro Thai Baht Chinese RMB Fiscal Year ending Mar. '11 Foreign exchange rates US$ (Millions of yen) I ncome before income taxes

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February 2, 2011 15 15

New LED Backlight Factory

Training for managers is underway at our Shanghai factory. We plan to hire production workers after Chinese New Year holidays. Minebea Electronic Devices (Suzhou) Ltd. (Jiangsu Province, China) Specifics : Integrated manufacturing plant from molding to assembly February, 2011 Finish outer construction March, 2011 Finish interior construction, start test production

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February 2, 2011 16 16

New Factory in Cambodia

Started hiring production workers in Cambodia and training them at Minebea facilities in Thailand and Malaysia. Minebea (Cambodia) Co., Ltd. Rental factory is under construction in the Phnom Penh Special Economic Zone. Plant is for assembling small and medium size motors, using parts and components supplied by Minebea plants in neighboring Thailand. April, 2011 Start small-scale production December, 2011 Complete own factory construction in the same area

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February 2, 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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