Presentation Transcripts

Latest Update : May 28, 2013

Back to Financial Results (FY3/2013)

Investor Meeting Presentation for FY 3/2013 held on May 9, 2013

Table of Contents

As explained earlier, our forecast for the second half of the fiscal year ended March 2013 was, I'm sorry to say, quite different from the actual results.
While Abenomics seems to have given the Japanese economy a shot in the arm, market conditions during the period of January through March were much worse than we could have ever imagined. Sales of personal computers, office automation equipment, industrial machinery, digital still cameras, and consumer electronics all fell. This left us with little choice but to make an unexpected production adjustment by cutting monthly ball bearing production to 160 million units in February. The slide illustrates the three factors behind this sudden adjustment, including the most notable one, changing technology. On top of a flagging economy, the introduction of new products like smartphones and tablet PCs kept demand for notebook PCs, hard disk drives, printers, copiers, and compact digital still cameras from rising.
On the bright side, we've started to see sales begin to take off with sales hitting 26 billion yen in April and the external sales volume of ball bearings reaching a record high of 132 million units. Since this trend is likely to continue into May and June, we are now rushing to boost production.
At any rate, we will need to keep our finger on the pulse of changing technology with an eye to keeping our strategies up to date.

20page (total 47pages)

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