Presentation Transcripts
Latest Update : Nov.30, 2021
Back to Financial Results (FY3/2022)
Investor Meeting Presentation for 2Q of FY3/2022 held on November 5, 2021
- Cover
- Today's Agenda
- Financial Results
- Summary of Consolidated Business Results for 2Q
- Summary of Consolidated Business Results for 1H
- Net Sales, Operating Income/margin
- 2Q Actual: Differences from the Forecast as of August
- Machined Components
- Electronic Devices & Components
- Mitsumi Business
- U-Shin Business
- Profit attributable to owners of the parent / EPS
- Inventory
- Net interest-bearing debt / Free cash flow
- Forecast for Fiscal Year Ending March 31, 2022
- Forecast for Business Segment
- Business Update & Management Strategy
- FY3/22 Forecast Highlights (Revised upward)
- Machined Components (Prepare for giant leap)
- Electronic Devices and Components (Expand motors)
- Mitsumi Business (Aim at record high OP)
- U-Shin Business (Wait for the recovery of auto production)
- Estimate for next fiscal year (Aim ¥100bn OP)
- Key businesses driving mid-to long-term growth (Beyond 1,000)
- QCDESS and Environmental Load Reduction Activities
- (1) Toward carbon neutrality
- (2) Toward Realizing "MMI Beyond Zero"
- (2) Effort for "MMI Beyond Zero"
- Dividends
- Forward-looking Statements
- Reference
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Now let's look at the electronic devices & components segment.
Net sales increased 3.6% quarter on quarter to hit 93.7 billion yen.
Looking at the results by product, we see that sales of motors increased 3.0% quarter on quarter to reach 66.1 billion yen. This is mainly due to robust sales for HDD despite impact of decrease in automobile production due to a shortage of semiconductors. Sales of electronic devices were on par quarter on quarter to total 17.3 billion yen. Sales of sensing device, totaling 9.3 billion yen, were up 16.8% from the previous quarter.
Operating income came to 6.1 billion yen, and the operating margin was 6.5%. Operating income fell 23.2% quarter on quarter while the operating margin dropped 2.2 percentage points. Excluding the one-time recovery of costs from past fiscal years, which was recognized in the previous quarter, and the impact of the one-time cost due to the effects of the COVID-19 and semiconductor shortages, profits would substantially increase.
Looking at the results by product, although the operating income for sensing devices was up, the operating income for electronic devices was down while operating income for motors was about the same as what it was in the previous quarter.
For your reference, figures shown for the fiscal year ended March 2021 and before are based on the classifications used before changes to the business segments were made. Please note that the same applies to the rest of the presentation.
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