Minebea Co., Ltd. Supplementary data for financial results Year - PowerPoint PPT Presentation

Minebea Co., Ltd. Supplementary data for financial results Year ended March 31, 2002 （ May 17, 2002) Any statements in the presentation which are not an historical fact are future projections made based on certain assumptions and our management's 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 indicators surrounding us or demand trends; (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. However, this is not a complete list of the factors affecting actual performance.

（ Supplementary financial data ） Consolidated Balance Sheets (Assets) ( M i l l i o n s o f y e n ) As of As of change Mar. 31 2002 Mar. 31 2001 Mar. 01-Mar. 02 Remarks 1 3 1 , 5 4 8 1 3 7 , 1 0 6 ( 5 , 5 5 7 ) Current assets Cash and cash equivalents and 1 3 , 9 5 2 1 1 , 9 3 0 2 , 0 2 2 marketable securities 5 1 , 2 8 1 5 5 , 2 7 7 ( 3 , 9 9 5 ) Decrease in sales Notes and accounts receivable 4 9 , 8 8 7 5 2 , 7 6 4 ( 2 , 8 7 6 ) Inventories Effect of inventory reduction 1 6 , 4 2 6 1 7 , 1 3 5 ( 7 0 8 ) Others 2 0 9 , 7 1 4 2 1 8 , 4 7 1 8 , 7 5 7 Fixed assets Capex ¥26,245mn 1 8 3 , 4 3 7 1 6 8 , 7 3 2 1 4 , 7 0 4 Tangible fixed assets Depreciation ¥24,292mn Influence of depreciation 1 5 , 5 0 4 1 6 , 2 2 5 ( 7 2 0 ) Intangible fixed assets of yen 1 9 , 5 2 8 2 4 , 7 5 6 ( 5 , 2 2 7 ) Investment and other assets Realized losses on 1 7 1 4 4 ( 1 2 7 ) securities ¥1,466mn Deferred assets Unrealized losses on 3 5 0 , 0 3 7 3 4 6 , 9 6 5 3 , 0 7 2 investments securities Total assets ¥1,276mn １

（ Supplementary financial data ） Consolidated Balance Sheets (Liabilities) ( M i l l i o n s o f y e n ) As of As of change Mar. 31 2002 Mar. 31 2001 Mar. 01-Mar. 02 Remarks 1 5 6 , 9 0 8 1 2 7 , 2 9 0 2 9 , 6 1 7 Current liabilities Decrease in 2 6 , 1 1 5 2 9 , 1 7 0 ( 3 , 0 5 4 ) Notes and accounts payable purchasing 1 0 3 , 4 6 0 6 6 , 5 2 9 3 6 , 9 3 0 Short-term interest-bearing debts 2 7 , 3 3 1 3 1 , 5 8 8 ( 4 , 2 5 8 ) Others Increase in current portion of long-term 8 0 , 3 0 1 1 1 8 , 9 7 8 ( 3 8 , 6 7 7 ) Long-term liabilities loans payable 7 9 , 2 1 2 1 1 8 , 6 2 9 ( 3 9 , 4 1 6 ) ¥24,212mn Long-term interest-bearing debts 1 , 0 8 8 Current portion of 3 4 8 7 4 0 Others convertible bonds ¥13,823mn 2 3 7 , 2 0 9 2 4 6 , 2 6 9 ( 9 , 0 5 9 ) Total liabilities 9 5 1 2 2 ( 2 6 ) Decrease in Minority interest in allowance for loss on Consolidated subsidiaries the liquidation of the 1 1 2 , 7 3 1 1 0 0 , 5 7 4 1 2 , 1 5 7 automotive wheel Shareholders' equity business ¥2,762mn 3 5 0 , 0 3 7 3 4 6 , 9 6 5 3 , 0 7 2 Total liabilities and Shareholders' equity 1 8 2 , 6 7 2 ( 2 , 4 8 6 ) 1 8 5 , 1 5 8 Interest-bearing debts 1 6 8 , 7 2 0 ( 4 , 5 0 8 ) 1 7 3 , 2 2 8 Net interest-bearing debts ２

（ Supplementary financial data ） Consolidated Statements of Income ( M i l l i o n s o f y e n ) Year ended Year ended Mar. 02 Mar. 01 Y.O.Y Change Remarks 2 7 9 , 3 4 4 2 8 7 , 0 4 5 ( 7 , 7 0 1 ) Net sales Decline due to sale of Actus ¥9,658mn 2 0 6 , 0 6 0 2 0 2 , 9 2 8 3 , 1 3 2 Cost of sales 7 3 , 2 8 3 8 4 , 1 1 7 ( 1 0 , 8 3 4 ) Gross profit 2 6 . 2 % 2 9 . 3 % Increase due to Gross profit margin transfer of domestic 5 1 , 3 1 1 5 1 , 1 3 9 1 7 1 sales division from S.G.& A. expenses 2 1 , 9 7 1 Keiaisha ¥5,645mn 3 2 , 9 7 7 ( 1 1 , 0 0 5 ) Operating income Decrease as a result 7 . 9 % 1 1 . 5 % Operating income margin of sale of Actus ¥4,142mn ( 5 , 9 7 7 ) ( 8 , 2 5 1 ) 2 , 2 7 3 Other income (expense) ( 5 , 0 4 4 ) ( 7 , 1 0 9 ) 2 , 0 6 4 Net interest income Interest expenses were ( 9 3 3 ) ( 1 , 1 4 3 ) 2 1 0 reduced as a result of Other 1 5 , 9 9 5 2 4 , 7 2 6 ( 8 , 7 3 1 ) decrease in interest- Ordinary income bearing debts and ( 3 , 0 4 6 ) decline in interest rates ( 2 , 3 3 9 ) ( 7 0 8 ) Extraordinary income (loss) Income (loss) 1 2 , 9 4 8 2 2 , 3 8 7 ( 9 , 4 3 8 ) cf. P.5 before income taxes Including income tax 7 , 6 2 9 7 , 4 5 6 1 7 3 Income taxes adjustment amounted Minority interest in earnings of 2 0 ¥2,711mn under tax 1 0 4 ( 8 4 ) consolidated subsidiaries effective accounting 5 , 2 9 8 1 4 , 8 2 6 ( 9 , 5 2 7 ) system Net Income (loss) ３

（ Supplementary financial data ） Consolidated Statements of Income ~ Main Categories in Selling, General and Administrative Expenses ~ ( M i l l i o n s o f y e n ) Year ended Year ended Mar. 02 Mar. 01 Y.O.Y Change 1 0 , 7 1 1 1 1 , 5 9 6 ( 8 8 5 ) Shipping and packaging 1 1 , 8 3 7 1 0 , 5 2 7 1 , 3 1 0 Accrued bonuses 2 , 4 5 0 2 , 6 2 8 1 7 8 Depreciation expense 1 , 8 6 6 3 , 0 3 7 ( 1 , 1 7 1 ) Sales commission 1 , 1 9 3 1 , 5 3 3 ( 3 4 0 ) Amortization of consolidation adjustments ４

（ Supplementary financial data ） Consolidated Statements of Income – Breakdown for Extraordinary Income and Loss – ( M i l l i o n s o f y e n ) Year ended Mar. 02 Remarks 1 , 7 2 7 Reversal of tax of Minebea Extraordinary income Investment (Pte.) Ltd. ¥665mn 7 1 4 G a i n f r o m d i s c h a r g e o f d e b t s 2 4 7 G a i n o n s a l e s o f f i x e d a s s e t s Sale of land for company 2 6 9 housing ¥118mn R e v e r s a l o f a l l o w a n c e f o r d o u b t f u l r e c e i v a b l e s Reversal of allowance by R e v e r s a l o f a l l o w a n c e f o r l o s s 4 9 6 recovery of loans available to o n t h e l i q u i d a t i o n o f t h e a u t o m o t i v e w h e e l b u s i n e s s Asia Investment ¥209mn 4 , 7 7 3 Reversal of allowance balance Extraordinary loss 1 , 1 2 5 L o s s o n d i s p o s a l o f i n v e n t o r i e s Sale of building for 2 2 5 company housing ¥20mn L o s s o n s a l e s o f f i x e d a s s e t s 3 8 6 L o s s o n d i s p o s a l o f f i x e d a s s e t s Valuation loss on financial 6 institutions shares L o s s o n s a l e s o f i n v e s t m e n t s s e c u r i t i e s 1 , 4 6 6 L o s s o n s a l e s o f i n v e s t m e n t s s e c u r i t i e s i n a f f i l i a t e s Loss on liquidation of Power 9 3 7 System Inc. (USA) ¥411mn L o s s o n l i q u i d a t i o n o f a f f i l i a t e s Expense related to the 6 2 6 R e t i r e m e n t b e n e f i t e x p e n s e abolition of company plane ¥367mn ( 3 , 0 4 6 ) Allowance for FX exchange Net Extraordinary income (expense) losses at a subsidiary in S’pore ¥159mn ５

（ Supplementary financial data ） Segment Information ( M i l l i o n s o f y e n ) Year ended Mar.01 Year ended Mar. 02 Year ended Mar. 02 Year ended Mar. 02 first half second half full year full year Remarks Machined Components Business Ball bearings for 6 6 , 1 0 5 6 4 , 2 5 6 1 3 0 , 3 6 1 1 3 3 , 5 0 6 Toal sales (incd. internal sales) home electronics and 6 2 , 1 9 5 5 9 , 8 3 0 1 2 2 , 0 2 5 1 2 4 , 4 6 1 Net Sales automobile were firm, 1 2 , 5 6 4 9 , 5 7 1 2 2 , 1 3 5 2 3 , 9 0 6 for PC-related market Operating income 1 9 . 0 % 1 4 . 9 % 1 7 . 0 % 1 7 . 9 % were weak Operating income margin Rod-end bearings for aerospace were firm Electronic Devices and Components Business Toal sales (incd. internal sales) 7 3 , 9 7 8 8 2 , 3 2 5 1 5 6 , 3 0 3 1 5 1 , 9 1 0 Fall in demand from Net Sales PC-related market ( 7 4 ) ( 8 8 ) ( 1 6 2 ) 8 , 2 5 9 Operating income Increase in sales of ( 0 . 1 % ) ( 0 . 1 % ) ( 0 . 1 % ) 5 . 4 % spindle motors Operating income margin Strong keyboard business Consumer Business and Others Toal sales (incd. internal sales) 7 0 9 3 0 7 1 , 0 1 6 1 0 , 6 7 4 Under the contract Net Sales we continued to purchase 6 ( 6 ) 0 8 1 2 Operating income furniture in Europe 0 . 8 % ( 2 . 0 % ) 0 . 0 % 7 . 6 % Operating income margin until Feb. 2002 Total 1 3 6 , 8 8 2 1 4 2 , 4 6 2 2 7 9 , 3 4 4 2 8 7 , 0 4 5 Net Sales 1 2 , 4 9 6 9 , 4 7 6 2 1 , 9 7 2 3 2 , 9 7 7 Operating income 9 . 1 % 6 . 7 % 7 . 9 % 1 1 . 5 % Operating income margin ６