Financial Highlights

Latest Update : June 16, 2023

* MinebeaMitsumi has adopted International Financial Reporting Standards (IFRS) from the 1Q of FY3/2019.

		FY3/2019	FY3/2020^*1	FY3/2021^*2	FY3/2022	FY3/2023^*3
Net sales	millions of yen	884,723	978,445	988,424	1,124,140	1,292,203
Operating income	millions of yen	72,033	58,647	51,166	92,136	101,522
Operating margin	%	8.1%	6.0%	5.2%	8.2%	7.9%
Profit before income taxes	millions of yen	71,321	58,089	49,527	90,788	96,120
Profit before income taxes margin	%	8.1%	5.9%	5.0%	8.1%	7.4%
Profit for the period attributable to owners of the parent	millions of yen	60,142	45,975	38,759	68,935	77,010
Profit for the period attributable to owners of the parent margin	%	6.8%	4.7%	3.9%	6.1%	6.0%

Per Share

		FY3/2019	FY3/2020^*1	FY3/2021^*2	FY3/2022	FY3/2023^*3
Earnings per share, basic (EPS)	yen	143.90	111.11	94.95	170.08	187.62
Earnings per share, diluted	yen	140.75	108.68	92.87	166.61	186.74
Cash dividends per share^*4	yen	28.00	28.00	36.00	36.00	40.00
Book-value per share (BPS)	yen	962.83	965.64	1,109.38	1,326.15	1,549.67
Total weighted average number of shares outstanding^*5	shares	417,943,833	413,788,647	408,220,767	405,317,126	410,445,103
Number of shares outstanding at the end of each period^*5	shares	415,131,573	408,404,478	406,662,303	406,146,407	408,381,229

		FY3/2019	FY3/2020^*1	FY3/2021^*2	FY3/2022	FY3/2023^*3
ROE (Profit to equity attributable to owners of the parent ratio)	%	15.9%	11.6%	9.2%	13.9%	13.1%
ROA (Profit before income taxes to total assets ratio)	%	9.9%	7.2%	5.4%	8.7%	8.0%
EBITDA^*6	millions of yen	108,431	104,892	99,794	137,367	154,655
EBITDA margin^*6	%	12.3%	10.7%	10.1%	12.2%	12.0%
Interest-bearing debt^*7	millions of yen	162,042	221,712	268,621	270,711	354,331
Net interest-bearing debts^*7	millions of yen	21,673	75,175	84,368	86,931	201,671
Net D/E ratio^*7	X	0.1	0.2	0.2	0.2	0.3
Equity ratio	%	53.9%	45.6%	46.2%	48.8%	48.5%
Cash flows from operating activities	millions of yen	100,722	86,486	93,763	78,417	44,093
Cash flows from investing activities	millions of yen	-54,190	-43,540	-70,581	-63,605	-106,275
Cash flows from financing activities	millions of yen	-13,334	-28,758	9,257	-25,547	37,875
Free cash flows	millions of yen	46,532	42,946	23,182	14,812	-62,182

		FY3/2019	FY3/2020^*1	FY3/2021^*2	FY3/2022	FY3/2023^*3
Depreciation and amortization^*8	millions of yen	36,398	46,245	48,628	45,231	53,133
Capital expenditures^*9	millions of yen	54,199	50,144	45,522	73,504	147,040
R&D expenses	millions of yen	25,453	28,886	32,154	37,065	38,754
Ratio of R&D expenses to revenue	%	2.9%	3.0%	3.3%	3.3%	3.0%

*1 U-Shin Ltd. has been included in the scope of consolidation since April 10, 2019. In 1Q of FY3/2020, Access Solutions does not include April 1-9.
*2 ABLIC Inc. has been included in the scope of consolidation since April 30, 2020.
*3 We have included the following companies in the scope of consolidation;
HONDA TSUSHIN KOGYO CO., LTD. since September 16, 2022
Minebea Connect Inc. (formerly SUMIKO TEC CO., LTD.) since November 1, 2022
Minebea AccessSolutions Inc. (formerly Honda Lock Mfg. Co., Ltd.) since January 27, 2023
*4 Detail of year-end dividend as of March 31, 2021: Ordinary Dividend 14.00 yen Commemorative Dividend 8.00 yen.
*5 Number of outstanding shares : Total number of shares issued -Treasury stock
*6 EBITDA : Operating income + Depreciation and amortization
*7 Net interest-bearing debts = "Bonds and borrowings" - ("Cash and cash equivalents" + Time deposit more than 3 months)
*8 From FY 3/2009, due to change in lease accounting, this includes depreciation on finance lease assets as well as tangible and intangible fixed assets.
*9 From FY 3/2009, due to change in lease accounting, this includes new finance lease and intangible fixed asset investments as well as tangible fixed asset investments.
Capital expenditures do not include the increase of asset from lease contracts at the IFRS16 application start date.

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