Presentation Transcripts
Latest Update : June 5, 2017
Back to Financial Results (FY3/2017)
Investor Meeting Presentation for FY 3/2017 held on May 9, 2017
- Cover
- Table of contents
- Financial Results
- Summary of Consolidated Business Results
- Summary of Consolidated Business Results for 4Q
- Net Sales (Yearly)
- Net Sales (Quarterly)
- Operating Income
- Machined Components (Yearly)
- Machined Components (Quarterly)
- Electronic Devices & Components (Yearly)
- Electronic Devices & Components (Quarterly)
- Mitsumi Business (consolidated portion in 4Q) (Quarterly)
- Mitsumi Business (including pre-merger) (Quarterly)
- Mitsumi Business (including pre-merger) (Yearly)
- Net Income (Yearly)
- Net Income (Quarterly)
- S.G. & A. Expenses
- Inventories
- Capital Expenditure & Depreciation
- Net Interest-Bearing Debt/Free Cash Flow
- Forecast for Fiscal Year Ending March 31, 2018
- Forecast for Business Segment
- Management Policy & Business Strategy
- Full-year forecast (FY3/2018)
- Challenge to ¥1 trillion sales and/or ¥100 billion OP
- New Mid-term Business Plan targets
- Estimated breakdown of ¥100 billion OP in FY3/2021
- Machined Components plan targets
- Ball bearing strategy
- Growth of miniature ball bearings for automobiles
- Aircraft component strategy
- Pivot assembly strategy (HDD)
- Electronic Devices & Components plan targets
- LED backlight strategy - 1
- LED backlight strategy - 2
- LED backlight strategy - 3
- Motor strategy
- Sensing device strategy (Minebea business)
- Mitsumi business plan targets
- Reviewing product portfolio - 1
- Reviewing product portfolio - 2
- Seven Spears of MinebeaMitsumi
- Seven spears - 3 Sensors
- Seven spears - 4 Connectors / Switches
- Seven spears - 5 Power supplies
- Seven spears - 6 Wireless / Telecommunications / Software
- Seven spears - 7 Analog semiconductors
- Basic policy of sub-core businesses
- Developing strategic new products by fusion with Mitsumi's technology/products
- Re-enter haptic device business
- Development of haptic module
- Development of IoT-related products
- Financial strategy
- Cash flow, debt, cap-ex and D&A plan
- M&A strategy
- Forward-looking Statements
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Amid a host of speculations about LED backlights, we don't believe that they will disappear any time soon. We've taken various measures and reduced the remaining book value of LED backlight-related equipment to about 4 billion yen. Since depreciation and amortization costs for this fiscal year will be 2.7 billion yen, the remaining book value as of the end of this fiscal year will only be 1.3 billion yen. Since we've been minimizing risk in this way, I'm not that concerned about LED backlights. Even if profits decline, the Mitsumi business, along with other businesses, should be able to sufficiently offset the loss, which I will explain later on.
In the meantime, we've been making steady progress on the joint development of narrow bezel LCD displays with our supply chain companies to compete with OLED displays, which is why we don't think it's game over. The possibility of OLED displays totally replacing LCD displays was 50-50 a year ago and 60-40 six months ago. Today it seems between 60-40 and 70-30. At any rate, we have to wait and see how the market will react to the OLED models when they are released. Although OLED is believed to face a high technological hurdle, on top of production yield and high costs, we are now ready to meet any challenge head on.
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