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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In light of all that, I estimate our net sales will be around 2.5 trillion yen ten years from now. Since we've made M&A deals generating 500 billion yen in sales over the last ten years, M&As worth 500 to 800 billion yen in net sales shouldn't sound at all like pie in the sky given our 1-trillion-yen foundation and the backdrop I've just outlined. Considering that we took sales from 230 billion yen to 500 billion yen via organic growth, as I mentioned earlier, we should be able to increase sales 1.8-fold, if not 2-fold. If I break it down, 200 billion yen would come from machined components, another 200 billion from motors, and 500 billion yen from the remaining six spears or new products, all in the next ten years.
The machined components business probably won't generate enough sales from bearings and aircraft components alone, so we'll have to explore other areas for products that will be the new pillar of the business segment. We already have a road map for motors, so it shouldn't be that hard to achieve this 200-billion-yen target. The most challenging part will be generating 500 billion yen in sales via the remaining six spears and other products. At the same time I've set the operating margin target at 10% for these products.
I've been informed that overall sales of aircraft components should exceed 100 billion yen in ten years and believe 100 billion yen in sales of sensing devices is also within our reach.
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