2012
Nov.2, 2012
Minebea Co., Ltd.
Notice regarding Differences between Forecast and Actual Consolidated Earnings for Six Month Period Ended September 30, 2012 and Revisions to Consolidated Earnings Forecast for Full Year
Minebea Co., Ltd. announced today the following differences between its consolidated earnings forecast for the six month period ended September 30, 2012 (announced on May 10, 2012) and the actual consolidated earnings released today. In light of recent earnings trends, Minebea has also revised its consolidated earnings forecasts for the full year.
Differences between Forecast and Actual Consolidated Earnings for Six Month Period Ended September 30, 2012 (From April 1, 2012 to September 30, 2012)
| Net sales | Operating income | Ordinary income | Net income | Net income per share |
|
|---|---|---|---|---|---|
| (Millions of yen) | (Millions of yen) | (Millions of yen) | (Millions of yen) | (Yen) | |
| Previous forecast (A) (announced on May 10, 2012) |
148,100 | 9,400 | 8,200 | 5,600 | 14.78 |
| Actual Results (B) | 139,101 | 7,700 | 6,942 | 3,720 | 9.94 |
| Difference (B-A) | -8,999 | -1,700 | -1,258 | -1,880 | - |
| Difference (%) | -6.1 | -18.1 | -15.3 | -33.6 | - |
| (Reference) Results for the six month period ended Sept. 30, 2011 | 132,448 | 6,052 | 5,032 | 2,769 | 7.30 |
Revisions to Consolidated Earnings Forecast for Year Ending March 31, 2013 (From April 1, 2012 to March 31, 2013)
| Net sales | Operating income | Ordinary income | Net income | Net income per share |
|
|---|---|---|---|---|---|
| (Millions of yen) | (Millions of yen) | (Millions of yen) | (Millions of yen) | (Yen) | |
| Previous forecast (A) (announced on May 10, 2012) |
312,000 | 23,300 | 20,800 | 12,500 | 32.99 |
| Revised forecast (B) | 292,000 | 15,500 | 13,000 | 7,400 | 19.81 |
| Difference (B-A) | -20,000 | -7,800 | -7,800 | -5,100 | - |
| Difference (%) | -6.4 | -33.5 | -37.5 | -40.8 | - |
| (Reference) Results for the fiscal year ended March 31, 2012 | 251,358 | 8,599 | 6,499 | 5,922 | 15.63 |
Reasons for differences and revisions
(1) Reason for the differences
Net sales, operating income and ordinary income for the six month period of the fiscal year ending March 2013 fell below our initial projections due to the slowdown in the global economy and, in particular, deteriorating HDD market conditions. Net income was affected by the loss on disaster of 1,461 million yen arising from the severe flooding that hit Thailand in October of last year as well as the posting of 669 million yen, which had been set aside as a provision of allowance for doubtful accounts, as an extraordinary loss.
(2) Reasons for the revisions
The downturn in the global economy triggered by the European sovereign debt crisis as well as declining sales in China due to strained relations between Japan and China remain a concern and will no doubt have a great impact on our consolidated operating results for the third quarter and onward. Sales of products related to pivot assemblies, ball bearings, and HDD spindle motors are expected to remain in the doldrums due to the slump in the IT-related market, especially the HDD market. Sales for motor products including information motors are also expected to decline in the automobile, office automation equipment, and other markets. On the bright side, sales of aircraft parts such as rod-end bearings will continue to soar thanks to growing demand. Buoyed by the growing wave in the tablet PC and smartphone markets, sales of LCD backlights will also continue to grow. Revisions were based on our best estimate of the total impact the current market conditions will have on our operations.
(Note) The above performance was projected in light of the information available at the time of the release of this document. Actual results may differ from the forecasted figures due to a variety of uncertain factors that may be observed in the days ahead.
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Representative: | Yoshihisa Kainuma Representative Director, President and Chief Executive Officer (Code No. 6479, TSE Div. No.1) |
| Contact: | Hiromi Yoda Managing Executive Officer Deputy Officer in charge of Administration, Planning, Accounting Division |
| Tel: | +81-(0)3-5434-8611 |
Product information, contact and other context are subject to change without prior notice.
