Presentation Transcripts
Latest Update : May 23, 2019
Back to Financial Results (FY3/2019)
Investor Meeting Presentation for FY 3/2019 held on May 8, 2019
- Cover
- Today's Agenda
- Financial Results
- Summary of Consolidated Business Results
- Summary of Consolidated Business Results for 4Q
- Net Sales, Operating Income/Margin -1
- Net Sales, Operating Income/Margin -2
- 4Q Actual: Differences from the Forecast as of Feb.
- Actual: Differences from the Forecast as of May '18
- Machined Components -1
- Machined Components -2
- Electronic Devices & Components -1
- Electronic Devices & Components -2
- Mitsumi Business -1
- Mitsumi Business -2
- Profit Attributable to Owners of the Parent -1
- Profit Attributable to Owners of the Parent -2
- Inventories
- Net Interest-Bearing Debt/Free Cash Flow
- Forecast for Fiscal Year Ending March 31, 2020
- Forecast for Business Segment
- Shareholders Return
- ROIC (Return On Invested Capital)
- Management Policy & Business Strategy
- Summary of Fiscal Year ended 3/19
- Summary of Fiscal Year ending 3/20
- Mid-term Business Plan Targets
- Machined Components Targets
- Electronic Devices and Components Targets
- Mitsumi Business Targets
- U-Shin Business Targets
- Mid-term Business Plan: Targets by Segment
- Basic scheme of U-Shin
- Example of synergy in U-Shin (Automobile)
- Example of synergy in U-Shin (Smart house)
- New Product Trio and Key Entry Area
- Usage of FCF and Shareholder Returns
- Dividend Forecast
- Share Buyback
- The Last Decade and the Next Decade (Image)
- Sales Transition
- OP Transition
- Major KPIs over the Last Ten Years
- Review of the Last Decade
- Macro transition
- Summary of the last decade
- Basic Strategy for the Next Decade -1
- Basic Strategy for the Next Decade -2
- Basic Strategy
- Business Strategy
- Sustainability
- Next decade by major markets
- Ball bearings next decade
- Motors next decade
- Automobile components next decade
- Aircraft components next decade
- Why MinebeaMitsumi Exceeds Market Growth
- (Reference) Aircraft components
- Home Appliance / OA / HDD next decade
- Medical components next decade
- Home equipment business next decade
- Cultivate New Markets with IoT and AI/Big Data
- Large Portfolio Shift to Core Businesses
- EBITDA/Net interest-bearing debts/Free cash flows
- Capital Deployment
- (Reference) Past and Future of Free Cash Flow
- KPI target
- Forward-looking Statements
- Reference
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Now let's take a look at the results by segment, starting with machined components segment.
On the left is a graph indicating yearly net sales trends and on the right is a graph with a bar chart showing yearly operating income trends along with a line chart for operating margins.
Net sales increased 7% year on year to reach a record high 188.3 billion yen in the fiscal year ended March 31, 2019.
Sales of ball bearings increased 15% to hit 121.2 billion yen. This increase was due to an average monthly sales volume increase to 196 million units, 3% over the previous fiscal year in addition to approximately 10 billion yen increase in sales from C&A, as well as continued strong demand in a wide range of markets, particularly automobiles.
Sales of rod-ends/fasteners increased 18% to hit 37.6 billion yen.
Pivot assemblies declined 6% to reach 29.5 billion yen. Our market share has remained above 80%, keeping earnings stable.
Operating income reached a record high of 47.8 billion yen in the fiscal year ended March 31, 2019, and our operating income margin was 25.4%. This represents a 12% increase in operating income and a 1.2 percentage point increase in the operating margin.
By product, operating income increased for ball bearings and rod-ends/fasteners, but decreased slightly for pivot assemblies.
In the fiscal year ending March 31, 2020, we anticipate increase in profit thanks to sales increase in bearings for aircraft applications, a product mix improvement due to the fact that the sales volume declining markets are relatively low sales price, and a cost reduction with optimizing production methods such as overtime by plant in line with some production adjustments for ball bearing.
Also, we expect increases in both sales and profits for rod-ends/fasteners and decreases in revenues and profits for pivot assemblies due to the contraction of the HDD market.
Beginning the fiscal year ended March 31, 2019, C&A has been included in ball bearings and Mach Aero has been included in rod-ends/fasteners.
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10page (total 76pages)
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