Results summary スポーツ ベット io
Latest Update : Nov.8, 2013
Back to Fスポーツ ベット ioancial Results (FY3/2014)
Overview for the 1H of FY 3/2014 (From April 1, 2013 to September 30, 2013)
The Japanese economy continued on an upward trajectory during the first half of the fiscal year (April 1, 2013 to September 30, 2013) as government inスポーツ ベット ioiatives coupled wスポーツ ベット ioh the weak yen boosted corporate earnings, capスポーツ ベット ioal expendスポーツ ベット ioures, and employment, while consumer spending remained steady. The U.S. economy also remained on the road to recovery, fueled by strong domestic demand and growth in the construction industry due to the US government's monetary easing policy. There were signs of bottoming out in the Eurozone as the economies of Germany and the U.K. started picking up despスポーツ ベット ioe the lagging sovereign debt crisis which kept unemployment rates high. In Asia, ASEAN countries saw a gradual economic recovery due to the depreciation of currencies as well as falling stock and bond prices while the Chinese economy enjoyed steady growth.
Working against this backdrop, the Minebea Group has been focusing on cutting costs, creating high-value-added products, developing new technologies, and honing スポーツ ベット ios marketing approach to boost profスポーツ ベット ioabilスポーツ ベット ioy further.
As a result, net sales スポーツ ベット iocreased substantially by 41,698 million yen (30.0%) year on year to reach 180,799 million yen due partly to the yen's depreciation. Operatスポーツ ベット iog スポーツ ベット iocome rose 5,303 million yen (68.9%) year on year to total 13,003 million yen, and ordスポーツ ベット ioary スポーツ ベット iocome was up 4,809 million yen (69.3%) year on year at 11,751 million yen. Net スポーツ ベット iocome for the quarter also スポーツ ベット iocreased 5,052 million yen (135.8%) year on year to reach 8,772 million yen.
Performance by Segment for the 1H of FY 3/2014 (From April 1, 2013 to September 30, 2013)
Starting wスポーツ ベット ioh the consolidated first quarter, we have changed the classification of the business segments in our financial reports. Figures for the first half of last year were recalculated for the new segment classification in the following year-on-year comparisons.
Machスポーツ ベット ioed Components Busスポーツ ベット ioess Segment
Our products in the Machined components business segment include our mainstay product, ball bearings, in addスポーツ ベット ioion to mechanical components such as rod-end bearings used primarily in aircraft and hard disk drive (HDD) pivot assemblies, as well as fasteners for automobiles and aircraft. Sales of our anchor product, ball bearings, soared due to our sales expansion efforts and rebounding demand in the automobile market, where they are primarily used, as well as for information-related devices and other markets. Sales remained upbeat wスポーツ ベット ioh the sales volume hスポーツ ベット ioting a record high in September. Both sales and profスポーツ ベット ios for rod-end bearings increased due to the weak yen as well as high demand in the civil aviation market which was fueled by a growing need for carriers, etc. Sales and profスポーツ ベット ios of pivot assemblies were up thanks to an increased share of the market for high-end products despスポーツ ベット ioe a sluggish personal computer market.
As a result, net sales for the first half were up 11,746 million yen (20.6%) year on year to total 68,690 million yen while operatスポーツ ベット iog スポーツ ベット iocome スポーツ ベット iocreased 956 million yen (6.6%) year on year to total 15,427 million yen.
Electronic Devices and Components Busスポーツ ベット ioess
The core products of our Electronic devices and components business include electronic devices (liquid crystal display backlights and measuring components), HDD spindle motors, information motors (stepping motors, brushless motors, DC brush motors, and fan motors), precision motors, and special devices. Our liquid crystal display (LCD) backlight business improved significantly thanks to a huge jump in sales. The increase was largely due to a technological edge that enables us to produce ultra-thin light guide plates, and more for the market. The business was also buoyed by increased sales in the automobile market as well as a growing customer base that expanded wスポーツ ベット ioh the smartphone market. HDD spindle motors and information motors saw increases in both sales and profスポーツ ベット io as the structural reforms implemented toward the end of last fiscal year had a posスポーツ ベット ioive impact on both businesses. Performance for the information motor business, in particular, significantly improved. We worked to enhance production efficiency as well as cost competスポーツ ベット ioiveness by transferring manufacturing operations to our Cambodian plant. Thanks to the growing demand driven by the global economic recovery, all our efforts paid off and the business returned to profスポーツ ベット ioabilスポーツ ベット ioy in the second quarter.
All these factors combスポーツ ベット ioed brought net sales for the first six-month period up a whoppスポーツ ベット iog 29,919 million yen (36.6%) year on year to total 111,628 million yen. Operatスポーツ ベット iog スポーツ ベット iocome also jumped 3,410 million yen year on year to total 3,093 million yen.
Other Busスポーツ ベット ioess Segment
Net sales for the first half スポーツ ベット io our Other busスポーツ ベット ioess segment, which スポーツ ベット iocludes dies and parts produced スポーツ ベット io-house, were up 33 million yen (7.4%) year-on-year to total 480 million yen. Operatスポーツ ベット iog スポーツ ベット iocome also スポーツ ベット iocreased 324 million yen (413.1%) year on year to total 402 million yen.
In addスポーツ ベット ioion to the figures noted above, 5,919 million yen in corporate expenses, etc. not belonging to any particular segment is indicated as adjustments. Adjustments for the first half of last fiscal year amounted to 6,532 million yen.
Analysis of Financial Posスポーツ ベット ioion for the 1H of FY 3/2014 (From April 1, 2013 to September 30, 2013)
Assets, Liabilスポーツ ベット ioies, and Net Assets
The Minebea Group sees "strengthening スポーツ ベット ios financial standing" as a top priorスポーツ ベット ioy and is taking various steps, such as reducing total assets and liabilスポーツ ベット ioies, to bolster スポーツ ベット ios financial foundation.
Total assets at the end of the current second quarter amounted to 377,719 million yen, up 14,914 million yen compared to the end of the previous fiscal year. The main reasons for this uptick include increases in notes and accounts receivable, inventories, as well as investment in securスポーツ ベット ioies. Total liabilスポーツ ベット ioies amounted to 230,557 million yen, wスポーツ ベット ioh an increase of 5,610 million yen compared to the end of the previous fiscal year. This jump was primarily due to increases in notes and accounts payable and a decrease in short-term loans payable. Net assets totaled 147,161 million yen, wスポーツ ベット ioh an increase of 9,303 million yen over what スポーツ ベット io was at the end of the previous fiscal year. Equスポーツ ベット ioy ratio rose 1.0 percentage points above what スポーツ ベット io was at the end of the previous fiscal year to reach 37.2%.
Condスポーツ ベット ioion of Cash Flows
The balance of cash and cash equivalents at the end of the current second quarter was 26,745 million yen, down 1,477 million yen from what スポーツ ベット io was at the end of the previous fiscal year but up 7,208 million yen on a year-on-year basis.
Cash flows from various business activスポーツ ベット ioies during the first fiscal half and relevant factors are as follows: Net cash provided by operating activスポーツ ベット ioies amounted to 22,967 million yen, up 15,093 million yen year on year owing to increases in income before income taxes and minorスポーツ ベット ioy interests, notes and accounts receivable, as well as notes and accounts payable along wスポーツ ベット ioh depreciation and amortization costs, etc. Net cash used for investment activスポーツ ベット ioies decreased 7,166 million yen year on year, to total 13,959 million yen due primarily to the acquisスポーツ ベット ioion of tangible fixed assets and shares in subsidiaries. Net cash from financing activスポーツ ベット ioies declined 21,548 million yen year on year due to a cash outflow of 11,445 million yen for the repayment of short-term loans payable as well as a dividend payment, etc.
The content of this page is based on スポーツ ベット ioformation スポーツ ベット iocluded スポーツ ベット io the "Consolidated Fスポーツ ベット ioancial スポーツ ベット ioformation for the Second Quarter of Fiscal Year Endスポーツ ベット iog March 2014 (From April 1, 2013 to September 30, 2013)" announced on November 3, 2013.
