This is a summary of our forecast for the fiscal year ending March 2017.
We would like to start this fiscal year with a plan of decreased net sales and lower profits. Although production and shipments at many of Minebea businesses, such as ball bearings, motors, and sensing devices, are expected to increase, the sales outlook for the LED backlight business remains lackluster due to production cutbacks in the smartphone market that are likely to continue into the June quarter. We also project a decline in operating income as LED backlight operating income declines, given the uncertain smartphone market and unforeseeable demand from specific customers at the moment. On top of that, assuming the stronger yen against other major currencies this fiscal year, sales and profits are expected to have negative impacts, 68.0 billion yen and 10.0 billion yen respectively. Without these negative currency impacts, we would have increased sales and operating income forecast compared to the previous fiscal year.
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