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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Here is a summary of our projections for this fiscal year.
As announced earlier, operating income totaled 72 billion yen. If you are wondering why our operating income projection is only 77 billion yen when net sales are poised to exceed 1 trillion yen this fiscal year, I'd say you have to look at the whole picture.
While last fiscal year's operating income hit 72 billion yen, if we were to exclude various special factors, it would actually only have come to about 69 billion yen. Keeping this in mind, we expect operating income for U-Shin to total 8 billion yen and operating income for machined components to increase as a result of our strategic initiatives, which I'll talk about later, despite a drop in the volume of ball bearings. Since operating income for electronic devices and components was quite low last fiscal year, it should be a little better this fiscal year, especially for motors and LED backlights. Adding our conservative estimate for Mitsumi to these projections, we initially forecasted overall operating income to reach 80 billion yen. Then, in April we had to account for unfunded pension liabilities totaling about 3 billion yen as a result of the enactment of a new law in Thailand. This bump in the road brought our operating income forecast down to the 77 billion yen we announced today.
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