2009
Jan.30, 2009
Minebea Co., Ltd.
Notice regarding Revision of Full Year Earnings Forecasts
Based on its recent earnings, Minebea Co., Ltd. revises the full-year earnings forecasts for the fiscal year ending March 31, 2009 (April 1, 2008 - March 31, 2009) announced on October 31, 2008 as follows:
1. Revision of Full Year Earnings Forecasts
(1) Full Year Consolidated Earnings Forecast
| Net Sales | Operating Income | Ordinary Income | Net Income | Net Income per Share | |
|---|---|---|---|---|---|
| (Millions of yen) | (Millions of yen) | (Millions of yen) | (Millions of yen) | (Yen) | |
| Previous forecast (A) (announced on October 31, 2008) |
300,000 | 25,000 | 23,000 | 12,500 | 31.33 |
| Revised forecast (B) | 260,000 | 17,500 | 15,500 | 6,500 | 16.46 |
| Difference (B-A) | -40,000 | -7,500 | -7,500 | -6,000 | - |
| Difference (%) | -13.3 | -30.0 | -32.6 | -48.0 | - |
| (Reference) Results for the fiscal year ended March 31, 2008 | 334,431 | 30,762 | 27,691 | 16,303 | 40.86 |
(2) Full Year Non-Consolidated Earnings Forecast
| Net Sales | Operating Income | Ordinary Income | Net Income | Net Income per Share | |
|---|---|---|---|---|---|
| (Millions of yen) | (Millions of yen) | (Millions of yen) | (Millions of yen) | (Yen) | |
| Previous forecast (A) (announced on October 31, 2008) |
215,500 | 3,500 | 9,100 | 4,500 | 11.28 |
| Revised forecast (B) | 185,000 | 500 | 6,300 | 3,500 | 8.86 |
| Difference (B-A) | -30,500 | -3,000 | -2,800 | -1,000 | - |
| Difference (%) | -14.2 | -85.7 | -30.8 | -22.2 | - |
| (Reference) Results for the fiscal year ended March 31, 2008 | 225,071 | 6,630 | 12,265 | 4,304 | 10.79 |
(3) Reasons for revision
The economic slowdown is advancing at a speed beyond our imaginings due to the psychological and economic adverse effect on the U.S. and the rest of the world that was exercised by the financial turmoil originating from the U.S. sub-prime loan problem. It is difficult for us to predict when sharp declines in demand from information and telecommunications-related industries and the automotive industry-our principal markets-will make a recovery. We see that the recovery will be prolonged more than we expect and cannot be expected in the second half of the current fiscal year. Additionally, we are highly dependent on overseas sales, and it is expected that sales amounts converted to yen will decline largely due to the sharp appreciation of the yen. While we are striving to reduce costs company-wide, reflecting the foregoing economic conditions, we have decided to once again revise the previous forecasts for operating results that were revised on October 31, 2008. This revision also reflects business restructuring charges estimated to be incurred in the future relating to the commencement of consultation with the trade union on the closure of the ball bearing plant (Skegness plant) of NMB-MINEBEA UK LTD., the UK subsidiary, which was separately announced.
(Note) The above forecast is prepared based on information available as of the announcement date of this material. Actual results may differ from forecast figures due to various factors in the future.
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Representative: | Takayuki Yamagishi Representative Director, President and Chief Executive Officer (Code No. 6479 TSE Div. No. 1) |
| Contact Person: | Sakae Yashiro Senior Managing Executive Officer Deputy Chief of Administration Headquarters (TEL: 81-3-5434-8611) |
Product information, contact and other context are subject to change without prior notice.
