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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Moving on to the Mitsumi business, I can say that we've taken all the right steps a manufacturer should take and our efforts have paid off which you can see reflected in our results. Prior to the business integration, we hired three major auditing firms to perform thorough audits, including an assessment of the purchase price allocation (PPA).
We posted negative goodwill in the fiscal year that ended in March 2017 and consequently avoided a dilution of earnings per share (EPS). We don't expect any dilution to occur in the fiscal year ending March 2018 either if things go as planned. Despite the huge scale of the M&A, net interest-bearing debts decreased rather than increased. Moreover, increased capital surplus resulted in a substantial increase in dividend resources, giving us more options needed for future dividend payments and share buybacks.
During the February investor meeting I noted that our operating income for the fiscal year ending March 2018 would be at least 5 billion yen. We can now expect it to reach 10 billion yen. I can say, as of today, the business integration with Mitsumi has been quite a success. I feel strongly that Mitsumi has the various resources, both technological and human, needed to take us to the previously mentioned goal of 20 billion yen in operating income set for the fiscal year ending March 2021. In moving forward, my job as CEO is to get the most out of those resources.
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40page (total 57pages)
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