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, 2013 Ending March 31, 2013 July 31, 2012 Minebea Co., Ltd. Summary of Consolidated Business Results for 1Q Despite of yen

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SLIDE 1

Business Results

First Quarter of Fiscal Year Ending March 31, 2013

Business Results

First Quarter of Fiscal Year Ending March 31, 2013

July 31, 2012

Minebea Co., Ltd.

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SLIDE 2

July 31, 2012

1

Despite of yen appreciation and increased labor costs, sales and profits continued to rebound from supply chain disruptions by the Thai Floods, and were in line with our annual plan.

Summary of Consolidated Business Results for 1Q

1Q of FY

  • Mar. ’12

4Q of FY

  • Mar. ’12

1Q of FY

  • Mar. ’13

¥8 ¥82. 2.04 04 ¥78. ¥78.27 27 ¥80. ¥80.77 77 ¥1 ¥118. 18.54 54 ¥103. ¥103.28 28 ¥104. ¥104.89 89 ¥2. ¥2.72 72 ¥2. ¥2.53 53 ¥2. ¥2.60 60 ¥1 ¥12. 2.57 57 ¥12. ¥12.39 39 ¥12. ¥12.76 76 Eur Euro Th Thai ai B Baht Chinese R ese RMB Fore reign e n exchang ange ra rates US$ US$ FY ending

  • Mar. '13

1Q 4Q 1Q

Yo YoY QoQ Ne Net s sale les

64, 64,802 802 62, 62,193 193 68,621 68,621 +5. +5.9% 9% +10.3% 10.3%

Op Operating i inco come

2, 2,303 303 1, 1,695 95 3,693 3,693 +60. +60.4% 4% × 2. 2.2

Or Ordinary i inco come

1, 1,870 870 1, 1,142 42 3,368 3,368 +80. +80.1% 1% × 2. 2.9

Ne Net in inco come

668 668 6,208 6,208 1,718 1,718 × 2.6 2.6

  • 72.3%

72.3% 1. 1.76 76 16 16.40 4.57 .57 × 2.6 2.6

  • 72.1%

72.1%

Ch Change Net et i income p per er sh shar are e (yen en) (Mil illi lions o

  • f yen)

FY ended

  • Mar. '12

* * * *

Includes one time factors such as ¥9.6 billion of the Thai Floods insurance income, ¥5.9 billion of loss on disaster and ¥1.6 billion of income tax refunds.

*

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SLIDE 3

July 31, 2012

2 2

Net Sales

Increased 5.9% YoY Increased 10.3% QoQ

67.9 69.8 67.5 63.9 64.8 67.6 56.7 62.2 68.6

0.0 20.0 40.0 60.0 80.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13

(Billions of yen)

Quarterly

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SLIDE 4

July 31, 2012

3

Operating Income

Increased 60.4% YoY Increased X 2.2 QoQ

6.0 6.3 5.6 4.2 2.3 3.7 0.9 1.7 3.7 8.9% 9.1% 8.3% 6.6% 3.6% 5.5% 1.5% 2.7% 5.4% 0% 2% 4% 6% 8% 10% 0.0 2.0 4.0 6.0 8.0 10.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13

Operating income Operating margin

(Billions of yen)

Quarterly

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SLIDE 5

July 31, 2012

4 4

Machined Components Business

Net sales Operating income

Quarterly

16.0 15.5 15.1 15.1 15.7 15.2 13.8 14.6 15.6 4.8 4.9 4.9 4.9 5.2 5.3 5.1 5.4 5.7 7.4 6.3 6.6 6.3 6.6 6.6 5.6 8.0 8.7 0.0 10.0 20.0 30.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13

Pivot assemblies Rod-ends/Fasteners Ball bearings

28.2

(Billions of yen)

26.8 26.6 26.3 27.5 27.1 24.4 28.0 30.0 7.1 7.3 6.9 6.8 6.3 7.1 5.7 6.5 7.5 25.2% 27.3% 26.0% 25.8% 22.9% 26.1%

23.3%

23.4% 24.9% 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/ 11 FY 3/ 12 FY 3/ 13

Operating Income Operating Margin (Billions of yen)

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SLIDE 6

July 31, 2012

5 5

Net sales Operating income

Rotary Components Business Quarterly

0.0 10.0 20.0 30.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13 24.9

(Billions of yen)

26.7 25.3 24.3 24.3 25.6 19.3 22.1 24.1 0.0 0.3 0.0 (0.5) (0.9) (0.5) (1.6) (1.1) (0.5) 0.0% 1.0% 0.1%

  • 2.1%
  • 3.6%
  • 2.1%
  • 8.3%
  • 5.0%
  • 2.3%
  • 10%
  • 5%

0% 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/ 11 FY 3/ 12 FY 3/ 13

Operating Income Operating Margin (Billions of yen)

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SLIDE 7

July 31, 2012

6 6

Electronic Devices & Components Business

Net sales Operating income

Quarterly

6.7 8.2 9.1 7.4 7.4 8.9 7.5 7.5 10.0 3.0 2.5 1.8 1.8 1.5 1.6 1.7 1.7 2.2 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/ 11 FY 3/ 12 FY 3/ 13

Measuring components Electronic devices

9.7

(Billions of yen)

10.7 10.9 9.2 9.0 10.5 9.2 9.2 12.1

1.5 1.3 0.9 0.4 (0.1) 0.1 (0.3) (0.7) (0.1) 15.4% 12.3% 8.4% 4.7%

  • 1.1%

1.3%

  • 2.8%
  • 8.0%
  • 0.6%
  • 10%
  • 5%

0% 5% 10% 15% 20% (1.0) (0.5) 0.0 0.5 1.0 1.5 2.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13

Operating Income Operating Margin (Billions of yen)

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SLIDE 8

July 31, 2012

7 7

Other Business

Net sales Operating income

Quarterly

1.5 1.9 1.5 1.5 1.5 1.6 1.6 1.5 1.8 0.9 1.1 0.7 0.6 0.7 0.8 0.9 0.8 0.7 2.6 2.7 2.6 2.0 1.8 1.9 1.4 0.5 0.0 2.0 4.0 6.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13

Keyboards Speakers Special devices & Other

5.1

(Billions of yen)

5.7 4.7 4.1 4.0 4.4 3.8 2.8 2.4 0.1 0.3 0.1 (0.1) (0.1) (0.1) (0.1) (0.1) 0.2

2.2% 6.1% 2.2%

  • 1.5%
  • 1.5%
  • 2.2%
  • 2.1%
  • 3.6%

7.4%

  • 4%

0% 4% 8% (0.2) 0.0 0.2 0.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13

Operating Income Operating Margin (Billions of yen)

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SLIDE 9

July 31, 2012

8

Net Income

Increased X 2.6 YoY Decreased 72.3% QoQ

Quarterly

3.8 3.5 3.3 1.8 0.7 2.1 (3.1) 6.2 1.7 10.0 9.2 8.7 4.8 1.8 5.6 (8.1) 16.4 4.6

(20.0) (10.0) 0.0 10.0 20.0 (4.0) (2.0) 0.0 2.0 4.0 6.0 8.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13

Net income Net income per share (right axis)

(Billions of yen) (yen)

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SLIDE 10

July 31, 2012

9

S.G. & A. Expenses Quarterly

11.7 11.5 11.0 10.6 11.4 11.1 10.9 10.9 11.7 17.3% 16.5% 16.3% 16.5% 17.5% 16.4% 19.2% 17.6% 17.1%

0% 10% 20% 30% 0.0 5.0 10.0 15.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13

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

(Billions of yen)

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SLIDE 11

July 31, 2012

10

Inventories Quarterly

39.3 41.7 42.7 44.0 44.3 45.3 46.5 49.0 51.8

0.0 10.0 20.0 30.0 40.0 50.0 60.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY 3/ 11 FY 3/ 12 FY 3/ 13

(Billions of yen)

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SLIDE 12

July 31, 2012

11

Capital Expenditure & Depreciation Yearly

17.0 24.9 20.2 11.1 27.3 27.3 8.9 36.0 24.6 26.4 24.0 21.1 20.8 19.6 4.7 19.6

0.0 10.0 20.0 30.0 40.0

Mar.'07 Mar.'08 Mar.'09 Mar.'10 Mar.'11 Mar.'12 Mar.'13 1Q Mar.'13 Forecast

Capital Expenditure Depreciation & Amortization Expenses

(Billions of yen)

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

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SLIDE 13

July 31, 2012

12

Net Interest-Bearing Debt Yearly

128.5 109.6 110.0 96.9 103.6 114.2 127.2 115.0 22.7 23.4 12.5 17.7 (4.2) (8.8) (9.0) 3.6 (10.0) 0.0 10.0 20.0 30.0 40.0 0.0 40.0 80.0 120.0 160.0

Mar.'07 Mar.'08 Mar.'09 Mar.'10 Mar.'11 Mar.'12 Mar.'13 1Q Mar.'13 Forecast

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

(Billions of yen) (Billions of yen)

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

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SLIDE 14

July 31, 2012

13 13

Forecast for Fiscal Year Ending March 31, 2013

Full year forecast unchanged

Ma

  • Mar. '

'12 Fu Full ll year FY FY e ending Ma

  • Mar. '1

'13 As Assumption ¥79. ¥79.07 07 ¥77. ¥77.00 00 ¥110. ¥110.20 20 ¥103. ¥103.00 00 ¥2. ¥2.59 59 ¥2. ¥2.50 50 ¥12. ¥12.33 33 ¥12. ¥12.20 20 Chinese R ese RMB Th Thai ai B Baht Fore reign e exchan ange ge ra rate tes US US$ Eur Euro FY FY e ende ded Ma

  • Mar. '1

'12 Fu Full ll Y Year ar 1st H t Half lf 2nd d Half Fu Full ll y year ar Ch Change Yo YoY Ne Net s sale les

251, 251,358 358 148, 148,100 100 163,900 163,900 312,000 312,000 +24.1% 24.1%

Op Operating i inco come

8, 8,599 599 9, 9,400 13,900 13,900 23,300 23,300 × 2.7 2.7

Or Ordinary i inco come

6, 6,499 499 8, 8,200 12,600 12,600 20,800 20,800 × 3.2 3.2

Ne Net in inco come

5, 5,922 922 5, 5,600 6,900 ,900 12,500 12,500 × 2.1 2.1 15.63 15.63 14.97 14.97 18. 18.53 53 33. 33.50 50 × 2.1 2.1

Fi Fisc scal Y Year ending Ma

  • Mar. '

'13 (Mil illi lions o

  • f yen)

Net et i income p per er sh shar are e (yen en)

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SLIDE 15

July 31, 2012

14 14

Jump in LED Backlight Sales

  • Started shipment in late June.
  • Ramping up production now.

LED backlights for new model smartphones

  • Started shipment in late April.
  • Ramped up production in May and

June.

  • Now at full production capacity.

LED backlights for tablet PCs

Further profit contribution expected from 2Q onward

LED backlights for portable MP3 players

  • Started shipment in July.
  • Ramp up production in August and

September.

0.0 20.0 40.0 FY3/ 10 FY3/ 11 FY3/ 12 FY3/ 13 E

(billions

  • f yen)

LED Backlight Sales

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SLIDE 16

July 31, 2012

  • Jumped up due to market share

increase and HDD market recovery after the Thai Floods.

  • Flat 2Q due to inventory adjustment,

but return to growth trend 3Q and beyond due to capacity recovery in the HDD industry.

  • Improve profitability by better product

mix such as for 7mm height HDDs.

15 15

Production & Sales of Ball Bearings & Pivot Assemblies Pivot Assemblies Shipment

  • Demand recovery from the Thai Floods
  • Utilize capacity for other applications

from pivot assemblies in 2Q.

  • Steady demand from automobile and

fan motors

  • Expansion into low-priced mass-

produced ball bearings and mid-sized early next year

Ball Bearings Shipment

100 110 120 130 140 1Q FY3/ 12 2Q 3Q 4Q 1Q FY3/ 13 2Q E 3Q E 4Q E

(millions)

External Shipment Volume of Ball Bearings (per month)

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SLIDE 17

July 31, 2012

16

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. Factors affecting our actual performance include but are not limited to: (i) changes in economic conditions or demand trends related to Minebea’s business operations; (ii) fluctuation of 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. 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/