Business Results Third Quarter of Fiscal Year Ending March 31, 2009 - - PowerPoint PPT Presentation

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Business Results Third Quarter of Fiscal Year Ending March 31, 2009 - - PowerPoint PPT Presentation

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Business Results Third Quarter of Fiscal Year Ending March 31, 2009 January 30, 2009 Minebea Co., Ltd. Summary of Consolidated Business Results Net Sales and Income decreased due to global economic downturn, in addition to currency impacts

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SLIDE 1

Business Results

Third Quarter of Fiscal Year Ending March 31, 2009

January 30, 2009

Minebea Co., Ltd.

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SLIDE 2

1

January 30, 2009

Summary of Consolidated Business Results

Net Sales and Income decreased due to global economic downturn, in addition to currency impacts and higher raw material costs

Year ended

  • Mar. '08

Year ending

  • Mar. '09

Change

1Q-3Q 1Q-3Q

YoY Net sales

253,389 209,780

  • 17.2%

Operating income

23,476 16,231

  • 30.9%

Ordinary income

20,692 14,985

  • 27.6%

19,199 13,023

  • 32.2%

Net income

12,528 8,653

  • 30.9%

31.40 21.81

  • 30.5%

1Q-3Q of FY

  • Mar. ’08

1Q-3Q of FY

  • Mar. ’09

¥117.57 ¥103.50 ¥162.52 ¥153.34 ¥3.73 (¥3.42) ¥15.51 ¥15.00 Remarks Euro Chinese RMB

( ) is on-shore rate reported by the Bank of Thailand. The large difference between the on-shore and off- shore Thai Baht rates disappeared in March, 2008 when Thailand lifted its restrictions on short-term capital inflows.

Thai Baht ¥3.10 US$ (Millions of yen) Net income per share (yen) Foreign exchange rates Income before income taxes

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2

January 30, 2009

Summary of Consolidated Business Results for 3Q

Net Sales and Income decreased due to global economic downturn

FY ended

  • Mar. '08

3Q 2Q 3Q

YoY QoQ Net sales

85,142 76,572 59,166

  • 30.5%
  • 22.7%

Operating income

8,355 6,615 4,532

  • 45.7%
  • 31.5%

Ordinary income

7,456 6,206 4,094

  • 45.1%
  • 34.0%

7,003 6,044 2,920

  • 58.3%
  • 51.7%

Net income

5,054 3,570 2,447

  • 51.6%
  • 31.5%

12.67 8.95 6.24

  • 50.7%
  • 30.3%

3Q of FY

  • Mar. ’08

2Q of FY

  • Mar. ’09

3Q of FY

  • Mar. ’09

¥113.45 ¥107.97 ¥99.17 ¥163.92 ¥165.81 ¥132.72 ¥3.64 (¥3.33) ¥15.17 ¥15.77 ¥14.51 ¥3.20 ¥2.85

( ) is on-shore rate reported by the Bank of Thailand. The large difference between the on- shore and off-shore Thai Baht rates disappeared in March, 2008 when Thailand lifted its restrictions on short-term capital inflows.

(Millions of yen) Net income per share (yen) Remarks FY ended Mar. '09 Change Income before income taxes Foreign exchange rates US$ Euro Chinese RMB Thai Baht

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3

January 30, 2009

80.2 83.8 83.3 83.7 81.8 86.5 85.1 81.0 74.0 76.6 59.2

0.0 20.0 40.0 60.0 80.0 100.0

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/07 FY 3/08 FY 3/09

(Billions of yen)

Net Sales

Decreased 30.5% YoY Decreased 22.7% QoQ

Quarterly

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4

January 30, 2009

Operating Income

Decreased 45.7% YoY Decreased 31.5% QoQ

Quarterly 6.6 5.1 7.3 8.4 8.0 7.1 5.9 7.5 6.6 6.3 4.5 8.6% 6.9% 9.0% 9.8% 9.3% 8.7% 7.5% 7.9% 9.0% 7.3% 7.7% 0.0 2.0 4.0 6.0 8.0 10.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/07 FY 3/08 FY 3/09 0.0% 2.0% 4.0% 6.0% 8.0% 10.0%

Operating income Operating margin

(Billions of yen)

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5

January 30, 2009

Operating income Net sales

Business Segments

Machined Components Business

18.9 18.6 18.0 13.3 4.2 3.8 18.0 17.7 18.2 19.1 17.9 18.4 18.9 4.9 5.0 5.3 5.0 5.3 5.2 5.2 4.6 4.6 4.8 5.8 5.8 6.6 6.9 6.7 6.6 8.1 8.1 7.6 6.5 7.0 4.1 4.0 4.2 4.8 4.9 4.9 4.9 4.8 4.5 4.6 0.0 10.0 20.0 30.0 40.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/07 FY 3/08 FY 3/09

Other machined components Pivot assemblies Rod-ends Ball bearings

35.5 36.736.1 35.7 33.9 33.3 34.534.2 35.7 33.3

(Billions of yen)

27.1 6.2 7.1 6.8 6.1 6.6 7.1 7.1 6.9 5.6 6.3 4.8 18.7% 20.6% 19.8% 17.1% 18.6% 19.3% 19.3% 16.8% 18.7% 17.8% 19.8% 0.0 2.0 4.0 6.0 8.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/07 FY 3/08 FY 3/09 0.0% 5.0% 10.0% 15.0% 20.0%

Operating Income Operating Margin

(Billions of yen)

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SLIDE 7

6

January 30, 2009

Electronic Devices & Components Business

Net sales Operating income

Business Segments

5.4 15.7 12.4 2.9 4.7 1.9 1.8 4.2 7.1 6.7 10.3 10.4 8.9 9.9 8.7 9.7 8.7 10.3 16.8 16.6 17.9 19.2 18.8 18.8 18.5 17.3 19.1 1.0 1.4 1.7 1.5 1.7 1.1 1.3 1.4 1.5 1.0 1.3 4.3 3.7 4.3 5.3 5.6 5.6 6.0 6.9 4.7 6.1 7.3 7.4 7.6 8.5 7.5 9.2 7.4 7.4

8.3

7.7 1.4 1.8 2.2 2.8 3.5 3.9 3.5 2.9 3.1 3.2 3.0 3.9 3.5 2.0 1.9 2.0 2.0 2.0 2.4 0.0 10.0 20.0 30.0 40.0 50.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/07 FY 3/08 FY 3/09

HDD spindle motors Information motors Others Keyboards Electronic devices Speakers Measuring components

46.2 45.3 49.1 49.8 42.7 46.9 49.3 49.1 48.0 40.8

(Billions of yen)

32.0

(0.3) 0.3 (0.5) 0.4 1.2 0.9 0.5 0.2 (0.2) 0.4 (0.4) 2.5%

  • 0.9%

0.7%

  • 1.2%

0.9% 1.8% 1.1% 0.4%

  • 0.3%

0.8%

  • 0.8%

(0.5) 0.0 0.5 1.0 1.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/07 FY 3/08 FY 3/09

  • 2.0%

0.0% 2.0% 4.0% 6.0%

Operating Income Operating Margin

(Billions of yen)

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7

January 30, 2009

Net Income

4Q

Quarterly

Decreased 51.6% YoY Decreased 31.5% QoQ

3.6 2.6 5.1 3.8 3.1 1.2 4.2 4.2 3.3 4.3 2.4 12.7 6.6 9.0 9.5 7.9 3.0 10.5 10.5 8.2 10.9 6.2 0.0 1.0 2.0 3.0 4.0 5.0 6.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/07 FY 3/08 FY 3/09 2 4 6 8 10 12 14

Net income Net income per share (right axis)

（Yen） (Billions of yen)

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8

January 30, 2009

S.G. & A. Expenses

Quarterly 12.6 12.3 12.0 12.8 11.4 11.7 12.0 12.112.4 12.8 10.9

16.5% 16.6% 14.8% 15.1% 14.2% 13.9% 14.3% 15.2% 14.5% 14.8% 18.4%

0.0 5.0 10.0 15.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/07 FY 3/08 FY 3/09 0% 5% 10% 15% 20%

S.G. & A. expenses S.G. & A. to sales ratio (Billions of yen)

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9

January 30, 2009

Quarterly

Inventories

47.7 48.1 48.6 45.9 50.9 48.5 42.4 46.4 45.4 40.9 48.6 0.0 20.0 40.0 60.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY 3/07 FY 3/08 FY 3/09

(Billions of yen)

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10

January 30, 2009

Capital Expenditure & Depreciation

Quarterly

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

18.5

17.0

24.9 17.0 21.9 18.5 23.1 24.0 26.4 24.6 24.0 22.5 0.0 10.0 20.0 30.0 FY 3/05 FY 3/06 FY 3/07 FY 3/08 FY 3/09 1Q-3Q FY 3/09 Forecast

Capital Expenditure Depreciation & Amortization Expenses

(Billions of yen)

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11

January 30, 2009

Net Interest-Bearing Debt

Target to reduce net interest-bearing debt to ¥100 billion by this FY end

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

Yearly

146.9 128.5 107.6 100.0 150.7 109.6 16.0 12.5 23.4 22.7 9.1 3.8 0.0 40.0 80.0 120.0 160.0

FY 3/05 FY 3/06 FY 3/07 FY 3/08 FY 3/09 3Q FY 3/09 Forecast

0.0 10.0 20.0 30.0

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

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12

January 30, 2009

Forecast for Fiscal Year Ending March 31, 2009

Full year forecast revised downward due to global economic downturn and currency impacts

FY ended

  • Mar. '08

Full year Full year revised forecast (A) YoY Full year (B) Amount change (A)-(B)

Net sales

334,431 260,000

  • 22.3%

300,000

  • 40,000

Operating income

30,762 17,500

  • 43.1%

25,000

  • 7,500

Machined components business

27,750 18,800

  • 32.3%

24,000

  • 5,200

Electronic devices and components business

3,012

  • 1,300
  • 1,000
  • 2,300

Ordinary income

27,691 15,500

  • 44.0%

23,000

  • 7,500

25,254 11,500

  • 54.5%

22,000

  • 10,500

Net income

16,303 6,500

  • 60.1%

12,500

  • 6,000

40.86 16.46

  • 59.7%

31.33

  • 14.87

FY ended

  • Mar. '08

FY ending

  • Mar. '09

Assumption

¥115.29 ¥100.12 ¥162.18 ¥144.25 ¥3.70 (¥3.39) ¥15.40 ¥14.55

Remarks

( ) is on-shore rate reported by the Bank of Thailand. The large difference between the on-shore and off-shore Thai Baht rates disappeared in March, 2008 when Thailand lifted its restrictions on short-term capital inflows. ¥3.00

Foreign exchange rates

US$ Euro Chinese RMB Thai Baht

(Millions of yen)

Net income per share (yen) Income before income taxes Fiscal Year ending Mar. '09 Previous forecast Fiscal Year ending Mar. '09

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13

January 30, 2009

Business Segments Forecast for Fiscal Year Ending March 31, 2009

36.4 36.7 37.9 36.8 35.7 9.4 9.8 10.5 10.3 9.9 9.7 9.8 9.1 9.0 8.0 7.7 24.1 8.1 13.5 15.7 14.7 13.6 12.3 10.0 0.0 20.0 40.0 60.0 80.0 100.0 １H ２H １H ２H １H 2HE FY 3/07 FY 3/08 FY 3/09

Ball bearings Rod-ends Pivot assemblies Other machined components

67.8 69.9 72.2 71.8 67.2 49.8

(Billions of yen)

Machined Components Net Sales Electronic Devices and Components Net Sales

9.6 8.0 5.0 7.5 6.6 5.7 4.1 3.8 4.0 3.9 4.5 6.2 7.5 9.6 13.9 20.7 19.2 18.6 18.4 23.2 32.5 34.5 38.0 37.9 35.4 3.1 3.2 2.9 2.4 2.3 1.9 10.8 11.2 12.8 9.3 14.7 16.1 14.9 16.5 15.9 2.5 8.0 0.0 20.0 40.0 60.0 80.0 100.0 １H ２H １H ２H １H 2HE FY 3/07 FY 3/08 FY 3/09

HDD spindle motors Information motors Others Keyboards Electronic devices Speakers Measuring components

96.2 97.1 96.0 94.4 83.4 59.6

(Billions of yen)

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SLIDE 15

January 30, 2009

Minebea Co., Ltd.

Business Results

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

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..