Consolidated Sales and Profit Forecast
Latest Update : July 17, 2025
* MinebeaMitsumi has adopted International Financial Reporting Standards (IFRS) from the 1Q of FY3/2019.
Forecast for the FY3/2025
For the consolidated financial forecast for the fiscal year ending March 2026, we are disclosing two scenarios—a base scenario and a risk scenario—to account for the impact of U.S. reciprocal tariffs on our business.
In the base scenario, we project net sales of 1,520 billion yen and operating income of 100 billion yen. Under the risk scenario, we forecast net sales of 1,490 billion yen and operating income of 85 billion yen.
We anticipate that the direct impact of increased costs due to U.S. reciprocal tariffs will be negligible, as our fundamental strategy is to pass on price increases.
However, we are factoring in the potential impact of reduced demand due to these price increases.
Regarding the timing of the impact, we expect the effect on sales to be minimal in the first quarter (April-June), given it falls within the 90-day suspension period of the U.S. reciprocal tariffs.
We are therefore forecasting a reduction in revenue only for the subsequent nine months, from the second quarter (July-September) onwards.
FY3/2026 (Base Scenario)
| FY3/2025 Full Year Actual |
FY3/2026 (Base Scenario) | YoY Change |
||||
|---|---|---|---|---|---|---|
| 1H Forecast |
2H Forecast |
Full Year Forecast |
||||
| Net sales | millions of yen | 1,522,703 | 774,500 | 745,500 | 1,520,000 | -0.2% |
| Operating income | millions of yen | 94,482 | 42,500 | 57,500 | 100,000 | 5.8% |
| Operating margin | % | 6.2% | 5.5% | 7.7% | 6.6% | |
| Profit before income taxes | millions of yen | 82,609 | 40,500 | 55,500 | 96,000 | 16.2% |
| Profit before income taxes margin | % | 5.4% | 5.2% | 7.4% | 6.3% | |
| Profit for the period attributable to owners of the parent | millions of yen | 59,457 | 30,000 | 41,000 | 71,000 | 19.4% |
| Profit for the period attributable to owners of the parent margin | % | 3.9% | 3.9% | 5.5% | 4.7% | |
| Earnings per share, basic (EPS) | yen | 147.58 | 74.70 | 102.10 | 176.80 | 19.8% |
FY3/2026 (Risk Scenario)
| FY3/2025 Full Year Actual |
FY3/2026 (Risk Scenario) | YoY Change |
||||
|---|---|---|---|---|---|---|
| 1H Forecast |
2H Forecast |
Full Year Forecast |
||||
| Net sales | millions of yen | 1,522,703 | 764,500 | 725,500 | 1,490,000 | -2.1% |
| Operating income | millions of yen | 94,482 | 38,000 | 47,000 | 85,000 | -10.0% |
| Operating margin | % | 6.2% | 5.0% | 6.5% | 5.7% | -8.0% |
| Profit before income taxes | millions of yen | 82,609 | 36,000 | 45,000 | 81,000 | -1.9% |
| Profit before income taxes margin | % | 5.4% | 4.7% | 6.2% | 5.4% | 0.7% |
| Profit for the period attributable to owners of the parent | millions of yen | 59,457 | 26,500 | 33,500 | 60,000 | 0.9% |
| Profit for the period attributable to owners of the parent margin | % | 3.9% | 3.5% | 4.6% | 4.0% | 3.3% |
| Earnings per share, basic (EPS) | yen | 147.58 | 65.99 | 83.42 | 149.41 | 1.2% |
Forecast for the Consolidated Sales and Operating Income by Business Segment
The following is all stated under the premise of the base scenario.
Precision Technologies segment expects ball bearings to remain strong for the fiscal year ending March 2026, driven by demand from the automotive and data center sectors.
We anticipate continued growth in the automotive sector due to content growth. Our aircraft business, including rod ends and fasteners, aims for growth that outpaces the market as we strengthen our global production network. For Precision Mechanical Components (PMC), we plan to expand production with the new Pursat factory in Cambodia, which is scheduled to begin partial operation in the fiscal year ending March 2026.
Motors, Lighting & Sensing segment anticipates content growth for automotive motors, despite a stagnant automotive market, due to increasing demand for electrification and enhanced functionality. Electro Devices aim for increased revenue and profit, primarily by improving profitability in the automotive backlight business. Sensing Devices are expected to achieve increased revenue and profit due to steady growth.
Semiconductors & Electronics segment will see Analog Semiconductors focus on niche and custom areas, and Power Semiconductors specialize in high-voltage and high-performance fields, securing increased revenue while anticipating a decrease in profit, although the semiconductor market is expected to weaken. Optical Devices are forecast to see reduced revenue and profit due to the impact of rare earth export regulations. Mechanical Components are expected to achieve increased revenue and profit driven by customer requests for increased production.
Access Solutions segment will continue to improve profitability through structural reforms, price adjustments, and thorough productivity enhancements. As a result, we anticipate increased profit despite a decrease in revenue.
FY3/2026 (Base Scenario)
| FY3/2025 Full Year Actual |
FY3/2026 (Base Scenario) | YoY Change |
||||
|---|---|---|---|---|---|---|
| 1H Forecast |
2H Forecast |
Full Year Forecast |
||||
| Net sales | millions of yen | 1,522,703 | 774,500 | 745,500 | 1,520,000 | -0.2% |
| Precision Technologies | millions of yen | 255,702 | 127,500 | 128,500 | 256,000 | 0.1% |
| Motor, Lighting & Sensing | millions of yen | 407,743 | 207,000 | 220,000 | 427,000 | 4.7% |
| Semiconductors & Electronics | millions of yen | 527,646 | 284,000 | 232,000 | 516,000 | -2.2% |
| Access Solutions | millions of yen | 328,081 | 153,500 | 162,500 | 316,000 | -3.7% |
| Others | millions of yen | 3,531 | 2,500 | 2,500 | 5,000 | 41.6% |
| Operating income | millions of yen | 94,482 | 42,500 | 57,500 | 100,000 | 5.8% |
| Precision Technologies | millions of yen | 55,696 | 27,500 | 29,500 | 57,000 | 2.3% |
| Motor, Lighting & Sensing | millions of yen | 22,984 | 12,000 | 18,000 | 30,000 | 30.5% |
| Semiconductors & Electronics | millions of yen | 22,003 | 9,000 | 10,000 | 19,000 | -13.6% |
| Access Solutions | millions of yen | 15,924 | 6,500 | 12,500 | 19,000 | 19.3% |
| Other | millions of yen | -1,194 | -1,000 | -1,000 | -2,000 | - |
| Adjustments | millions of yen | -20,931 | -11,500 | -11,500 | -23,000 | - |
FY3/2026 (Risk Scenario)
| FY3/2025 Full Year Actual |
FY3/2026 (Risk Scenario) | YoY Change |
||||
|---|---|---|---|---|---|---|
| 1H Forecast |
2H Forecast |
Full Year Forecast |
||||
| Net sales | millions of yen | 1,522,703 | 764,500 | 725,500 | 1,490,000 | -2.1% |
| Precision Technologies | millions of yen | 255,702 | 125,500 | 124,500 | 250,000 | -2.2% |
| Motor, Lighting & Sensing | millions of yen | 407,743 | 203,500 | 212,500 | 416,000 | 2.0% |
| Semiconductors & Electronics | millions of yen | 527,646 | 282,000 | 229,000 | 511,000 | -3.2% |
| Access Solutions | millions of yen | 328,081 | 151,000 | 157,000 | 308,000 | -6.1% |
| Others | millions of yen | 3,531 | 2,500 | 2,500 | 5,000 | 41.6% |
| Operating income | millions of yen | 94,482 | 38,000 | 47,000 | 85,000 | -10.0% |
| Precision Technologies | millions of yen | 55,696 | 26,000 | 27,000 | 53,000 | -4.8% |
| Motor, Lighting & Sensing | millions of yen | 22,984 | 10,000 | 14,000 | 24,000 | 4.4% |
| Semiconductors & Electronics | millions of yen | 22,003 | 9,000 | 9,000 | 18,000 | -18.2% |
| Access Solutions | millions of yen | 15,924 | 5,500 | 9,500 | 15,000 | -5.8% |
| Other | millions of yen | -1,194 | -1,000 | -1,000 | -2,000 | - |
| Adjustments | millions of yen | -20,931 | -11,500 | -11,500 | -23,000 | - |
Capital Expenditure, Depreciation, Research and Development Costs
| FY3/2025 Full Year Actual |
FY3/2026 (Base Scenario) Full Year Forecast |
YoY Change |
FY3/2026 (Risk Scenario) Full Year Forecast |
YoY Change |
||
|---|---|---|---|---|---|---|
| Depreciation and amortization | millions of yen | 66,206 | 67,000 | 1.2% | 67,000 | 1.2% |
| Capital expenditures | millions of yen | 94,777 | 80,000 | -15.6% | 80,000 | -15.6% |
| R&D expenses | millions of yen | 45,529 | 45,600 | 0.2% | 45,600 | 0.2% |
Foreign Exchange
| FY3/2025 Full Year Actual |
FY3/2026 Full Year Assumption |
|||
|---|---|---|---|---|
| USD | PL | yen | 152.61 | 140.00 |
| BS | yen | 149.52 | 140.00 | |
| EUR | PL | yen | 163.89 | 160.00 |
| BS | yen | 162.08 | 160.00 | |
| THB | PL | yen | 4.36 | 4.20 |
| BS | yen | 4.40 | 4.20 | |
| CNY | PL | yen | 21.12 | 19.40 |
| BS | yen | 20.59 | 19.40 | |
