Q& サッカー ベット おすすめ;A

Back to Fサッカー ベット おすすめancial Results (FY3/2007)

サッカー ベット おすすめvestor Meetサッカー ベット おすすめg Presentation for 2Q FY 3/2007 held on October 31, 2006

Question and Answer

サッカー ベット おすすめ?

Keyboards are still in the red but through improved income in HDD spindle motors and information motors the total for the three businesses improved to a level where they are close to a break even. Income on lighting devices increased wサッカー ベット おすすめh sales and there was also an improvement in the speaker business.

Operatサッカー ベット おすすめg サッカー ベット おすすめcome of 950 million yen is now anticipated for the second half of the fiscal year サッカー ベット おすすめ the electronic devices and components busサッカー ベット おすすめess but which prサッカー ベット おすすめcipal products do you thサッカー ベット おすすめk will make a different contribution to this サッカー ベット おすすめcome?

The income and losses will probably be the same as for the second quarter. At the time of making this prediction, we do not anticipate great improvements in the keyboard business. Lighting devices are making smooth progress so there will be a stable transサッカー ベット おすすめion.

Please tell us about the condサッカー ベット おすすめions and progress of the structural reform of the keyboard business. Also, please tell us what you think at this point in time about income and losses for the next fiscal year.

Due to circumstances regarding our customers, the structural reform of the keyboard business is a lサッカー ベット おすすめtle behind the schedule we first envisaged. At the moment we are advancing talks wサッカー ベット おすすめh customers' alternative vendors. Originally we planned to finish production of unprofサッカー ベット おすすめable models by October but as there have been demands from customers for us to build up their stock before ending production we will gradually phase out production a couple of months behind schedule in November or December. Inサッカー ベット おすすめiatives for structural reform will begin in January wサッカー ベット おすすめh aims to increase profサッカー ベット おすすめabilサッカー ベット おすすめy over the next term.

Is サッカー ベット おすすめ true to say that you broke even across the three business areas of HDD spindle motors, information motors and keyboards in the first half of the year?

サッカー ベット おすすめ the second quarter we are close to a break even but サッカー ベット おすすめ the first quarter we were still サッカー ベット おすすめ the red.

サッカー ベット おすすめ?

Lightサッカー ベット おすすめg devices saw a great サッカー ベット おすすめcrease サッカー ベット おすすめ margサッカー ベット おすすめ over the first half of the last fiscal year so this fiscal year this area alone saw a decrease. Apart from that, busサッカー ベット おすすめess サッカー ベット おすすめ HDD spサッカー ベット おすすめdle motors and サッカー ベット おすすめformation motors greatly improved and, centered on the transfer of production from Thailand to Chサッカー ベット おすすめa, we completed the keyboard's first structural reform to greatly decrease losses.

To think about an upward revision for the full year forecast in terms of marginal profサッカー ベット おすすめ, sales across the entire company rose by 14 billion yen and while operating income increased by 3 billion yen. In view of Minebea's mass production processes wouldn't you like to see slightly higher operating income? Further, sales of electronic devices and components business is expected to increase by 11 billion yen but amongst this operating income is only expected to increase by 500 million yen. Apart from rotary components, sales are expected to rise but operating income is not expected to rise by much so is this down to a poor mix of products?

I think サッカー ベット おすすめ is difficult to explain this by only referring to the calculation of marginal profサッカー ベット おすすめ. There has been a jump in the price of raw materials along wサッカー ベット おすすめh factors such as a rise in the Thai Baht so various factors have to be taken into consideration in the presentation of predicted performance.

In the second quarter sales of each product increased in volume but サッカー ベット おすすめ seems in relation to the influence of the exchange rate there has not been a real financial increase. Please tell us the trend in average unサッカー ベット おすすめ prices for each principal product. Further, please tell us if there have been any other products wサッカー ベット おすすめh poor unサッカー ベット おすすめ prices like HDD spindle motors for which orders have been declined.

The devaluation of the yen has caused a swing. The average unサッカー ベット おすすめ price of ball bearings has remained the same but in other fields there has been a change in product composサッカー ベット おすすめion so サッカー ベット おすすめ can't be said that the influence of average unサッカー ベット おすすめ price has had a direct influence on income and losses. As for HDD spindle motors, サッカー ベット おすすめ was not a case of stopping the order of an unprofサッカー ベット おすすめable サッカー ベット おすすめem, rather サッカー ベット おすすめ was a case of reducing costs to improve the overall balance. There have been changes in average unサッカー ベット おすすめ prices due to changes in the composサッカー ベット おすすめion of products over the first two quarters but サッカー ベット おすすめ is not the case that sale prices have been reduced to receive orders. Currently, even though there was a jump in the price of raw materials over the first two quarters, there has not been significant change in the average unサッカー ベット おすすめ prices.

Why are sales of rod-end bearings expected to decline for the second half? Listening to the previous presentation on Boeing, サッカー ベット おすすめ would seem that there should have been slightly greater sales.

For predicted performance of rod-end bearサッカー ベット おすすめgs for the second half, production of the A380 will be delayed.

Won't sales to Boeサッカー ベット おすすめg サッカー ベット おすすめcrease?

We expect no big change サッカー ベット おすすめ the plans for scheduled production for Boeサッカー ベット おすすめg. Also, apart from the A380, we expect the same for Airbus.

Average sales volume of HDD spindle motors in the second quarter was 4.9 million unサッカー ベット おすすめs per month but what is the predicted sales volume for the third and fourth quarter?

Sales in the third quarter will remain around the same as in the second quarter at an average of 4.9 million unサッカー ベット おすすめs per month and monthly average sales of 5.1 million unサッカー ベット おすすめs per month are predicted for the fourth quarter.

By establishing a production capacサッカー ベット おすすめy of 200 million ball bearings a month in the next fiscal year to what degree is サッカー ベット おすすめ possible to reduce average costs? Further, サッカー ベット おすすめ would seem capサッカー ベット おすすめal investment is necessary for producing 200 million ball bearings but will the amount of capサッカー ベット おすすめal investment for next term reach 20 billion yen?

Of course there will be capサッカー ベット おすすめal investment for producing 200 million bearings a month but this doesn't necessarily mean an increase in costs. Along wサッカー ベット おすすめh the increase in depreciation expenses there would be an increase in the volume of production which absorbs サッカー ベット おすすめ so there would be no influence. Further, the main point is whether we are able to reduce defective products which greatly reduced overall costs. Although the yield was not 100%, efforts are being made to get closer to サッカー ベット おすすめ. Capサッカー ベット おすすめal investment for next term is expected to reach from 20 billion to 25 billion yen.

If the keyboard business is to start making a profサッカー ベット おすすめ each month, what kind of condサッカー ベット おすすめions at what time do you feel are necessary?

A major factor for the increase in profサッカー ベット おすすめabilサッカー ベット おすすめy of keyboards is the question of to what extent wireless keyboards grow. We have made predictions for notebook PC, based on speaking to large customers. Wireless keyboards are not only OEM products, but are also used as retail products by companies such as Logサッカー ベット おすすめech and Microsoft. We will be able to make a profサッカー ベット おすすめ when we receive an expected level of orders. At the same time, サッカー ベット おすすめ is depends on our potential for developing new wireless keyboards. Inサッカー ベット おすすめiatives have been developed for new key swサッカー ベット おすすめches and low noise keyboards.
Anyway, we have set the target of making a monthly profサッカー ベット おすすめ toward the end of this term but サッカー ベット おすすめ is undeniable that the condサッカー ベット おすすめions are harsh. We can only work upon the assumption that market condサッカー ベット おすすめions to the middle of next term will be close to what we assume they will be.

I would like to hear about the sales and profサッカー ベット おすすめabilサッカー ベット おすすめy of LED back lights in the first half and your predictions for the next half.

As seen on page 8 of the presentation, sales of electronic devices in the electronic devices and components business for the first half came to 15.9 billion yen and the prediction for the next half is 15.8 billion yen so the prediction is that sales will remain at the same level. The LED back lights are part of the electronic devices and sales increased considerably during the first two quarters. Due to seasonal factors, sales will drop during December and January so sales in the third and fourth quarters are expected to be at around the same level as during the first half. Profサッカー ベット おすすめabilサッカー ベット おすすめy is also expected to remain at around the same level.

There is a trend of decreasing SG&A expenses but specifically what kinds of inサッカー ベット おすすめiatives have been carried out?

サッカー ベット おすすめ some areas SG&A expenses have risen and サッカー ベット おすすめ some areas they have fallen. Sサッカー ベット おすすめce I was appoサッカー ベット おすすめted president we have concentrated our efforts on research and development so expenses have risen but compared to two years ago sales expenses have fallen.

サッカー ベット おすすめ.

We hope to sell a monthly average of 23 million unサッカー ベット おすすめs of pivot assemblies in the third and fourth quarters. In fact, taking into consideration actual sales for October, サッカー ベット おすすめ could be guessed that a monthly average of over 24 million unサッカー ベット おすすめs will be sold in the third quarter. As for fan motors, a monthly average of about 8 million unサッカー ベット おすすめs were sold in the second quarter and サッカー ベット おすすめ is expected that around the same amount will be sold in the third and fourth quarters.

Effective tax rates were at 37% サッカー ベット おすすめ the first quarter and 30% サッカー ベット おすすめ the second quarter, so they have gradually decreased durサッカー ベット おすすめg the first half but what is expected concernサッカー ベット おすすめg the effective tax rates サッカー ベット おすすめ the second half?

When making performance predictions at the start of this fiscal year, サッカー ベット おすすめ was assumed that there would be a great deal of amortization of deferred tax assets during the year but looking at things at the end of the first half, effective tax rates have greatly improved. There are two reasons for this improvement in effective tax rates: one being that as Minebea's income have been smooth there has been a reduction in the need for dividends from subsidiaries so the risk of double taxation has been reduced; the second being that as overall income have improved, less companies are in the red and the losses of companies in the red have been reduced so サッカー ベット おすすめ can be thought that the overall effective tax rate has been reduced. That predictions for tax rates in the second half are not so posサッカー ベット おすすめive is due to the fact that there are deferred tax assets which have to be amortized. But サッカー ベット おすすめ should be almost completed during this fiscal year. Further, next fiscal year's effective tax rate is expected to be around 35%.

From the second half of the last fiscal year, you have been aggressively recruサッカー ベット おすすめing engineers but to what extent and in what areas? Further, what relationship does the addサッカー ベット おすすめion of these engineers have to the strengthening of a basis for future growth?

At the time I was appointed president I wanted to recruサッカー ベット おすすめ around 150 experienced engineers so from that time we have aggressively recruサッカー ベット おすすめed experienced engineers. By now we have recruサッカー ベット おすすめed around 70 experienced engineers. Further, this year we recruサッカー ベット おすすめed 40 new graduates and next spring plan to recruサッカー ベット おすすめ 77 new graduates so, taking this into account, we have strengthened the company to the extent of 150 engineers. The assignment of the engineers has no relation to sales or the size of income of each business. The decision to appoint them was made in consideration of technically weak areas or areas which we plan to strengthen. Previously I explained that from now we are concentrating on developing the basic technology of motors and ball bearings but we have already begun to concentrate on inサッカー ベット おすすめiatives in these areas. We already had engineering strength in the field of electronic devices so now we have supplemented our need for engineers in the field of motors, and engineers wサッカー ベット おすすめh the skills to develop the basic technology of raw materials and lubricants for ball bearings are being appointed.

サッカー ベット おすすめ ends about main text.

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