Presentation Transcripts

Latest Update : May 26, 2009

Back to Financial Results (FY3/2009)

Investor Meeting Presentation for FY 3/2009 held on May 8, 2009

Table of Contents

We have been implementing various measures to cut fixed costs since the last fiscal year due to our weak performance as a result of the worse economic situation.
First of all, to set an example we will cut remunerations for directors and executive officers by 5% to 30% depending on their positions for the time being, and give them no bonus this June. Also, corporate auditors voluntarily cut their own pay by 5%.
After having reached an agreement with the labor union, we closed the ball bearing factory in Skegness, UK as of the end of April with an extraordinary loss of 1.8 billion yen for the fiscal year ended March 31, 2009. This will result in a projected annual cost reduction of about 2 billion yen.
In Thailand, where we manufacture about 50% of Minebea Group's product, we had a workforce surplus due to the sharp decline in production volume and solicited voluntary early retirement. 2,750 people, about 10% of full-time employees in Thailand, accepted the offer and retired as of the end of March. The personnel cost reduction as a result of this measure is estimated to be about 2 billion yen per year.
We also implemented structural reforms in the U.S.
We are making a companywide effort to cut not only fixed costs but also operating expenses, by going all out to cut costs across the board.

15page (total 44pages)

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