Presentation Transcripts
Latest Update : Nov.25, 2015
Back to Financial Results (FY3/2016)
Investor Meeting Presentation for 2Q FY 3/2016 held on November 5, 2015
- Cover
- Table of contents
- Financial Results
- Summary of Consolidated Business Results for 1H
- Summary of Consolidated Business Results for 2Q
- Net Sales
- Operating Income
- Machined Components Business
- Electronic Devices & Components Business
- Net Income
- S.G. & A. Expenses
- Inventories
- Capital Expenditure & Depreciation
- Net Interest-Bearing Debt
- Forecast for Fiscal Year Ending March 31, 2016
- Forecast for Business Segment
- Policy and Strategy
- Table of Contents
- Current Performance and Minebea Share Price - 1
- Current Performance and Minebea Share Price - 2
- Our View on Current Market Conditions
- Our View on Future Business Risks
- 1. Efforts to keep next year's market share for LED backlights
- 2. OLED displays will not replace all high-end smartphone LCDs in 3 years
- 3-1. Profits do not decline by HDD volume down (Future of Ball Bearings and Pivot Assemblies)
- 3-2. Profits do not decline by HDD volume down (Future of HDD spindle motors)
- 4-1. Measuring Components business to become a growth driver this year, next and one after next
- 4-2. Motor business to become a growth driver this year, next and one after next
- Unforeseen Factors behind First Half Performance
- Outlook for this Fiscal Year
- New Mid-term Business Plan targets
- Future Developments (New Products)
- 1. Smart City Project in Cambodia
- 2. SALIOT™ (Smart Adjustable Light for IoT)
- 3. J3DD head-up displays
- Dividend Forecast
- M&A and Alliance Strategies
- Forward-looking Statements
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This slide shows our view of the current market. When China devalued the renminbi, the market responded very negatively to the slowing Chinese economy. Some say that smartphone sales won't surge, but, as I've always said, I believe that sales of Minebea products will grow as more high-value-added consumer products are sold. It's true that the Chinese economy is losing some steam, but if you look at the financial results of Mercedes-Benz and BMW, or automobile sales in the U.S., it looks like demand is still pretty strong in the global market. As far as Minebea is concerned, the changes in the Chinese economy haven't hurt our bottom line. We launched a new LED backlight product sometime around July of last year and had no choice but to go into full production with it because the competition had a problem getting its production lines going. Although we were initially aiming to supply 70% of this year's total, there was a temporary delay in getting the production for a certain model off the ground and I'm sorry for the tremendous concern that has caused. Production has been in full swing every month since September. Now that Minebea products have been adopted by Chinese smartphone manufacturers, including Huawei and Xiaomi, for their high-end LCD smartphones, production is sure to pick up. That's why I don't expect us to lose any ground to the competition. The only thing we are not sure about concerning smartphones is how and where they are really selling. We don't have a clear picture because we don't sell smartphones. Judging from the recent indication we have received from customers, demand seems to be rather robust.
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