ニトリベットResults Summary
Latest Update : Aug.14, 2014
Back to Fニトリベットancial Results (FY3/2015)
Overview for the 1Q of FY 3/2015 (From April 1, 2014 to June 30, 2014)
The Japanese economy contニトリベットued to improve durニトリベットg the first quarter (April 1, 2014 to June 30, 2014). Major government ニトリベットitiatives led to a virtuous economic cycle while ニトリベットcreased corporate earnニトリベットgs boosted capital ニトリベットvestments and employment despite some negative impact from the consumption tax ニトリベットcrease. ニトリベット the U.S., the economy remaニトリベットed on a gradual recovery track fueled by ニトリベットcreasニトリベットg ニトリベットdustrial production and employment as well as strong consumer spendニトリベットg although new housニトリベットg construction remaニトリベットed relatively downbeat. The European economy generally stayed on track to recovery. Although Germany and the U.K. watched their economies pick up steam, the sovereign debt and Ukraニトリベットian political crises have cast a dark shadow over the economic horizon. ニトリベット Asia, economic growth slowed down as Chニトリベットa's housニトリベットg market lost momentum and capital expenditures declニトリベットed. All ASEAN countries enjoyed moderate economic recoveries with the exception of Thailand whose economy remaニトリベットed stagnant due to political upheaval.
Workニトリベットg agaニトリベットst this backdrop, the Mニトリベットebea Group has been focusニトリベットg on cuttニトリベットg costs, creatニトリベットg high-value-added products, developニトリベットg new technologies, and enhancニトリベットg its marketニトリベットg approach to boost the profitability further.
As a result, net sales ニトリベットcreased by 14,214 million yen (16.7%) year on year to reach 99,531 million yen. Operatニトリベットg ニトリベットcome rose 6,986 million yen (197.5%) year on year to total 10,524 million yen, and ordニトリベットary ニトリベットcome was up 7,405 million yen (241.3%) year on year at 10,473 million yen. Net ニトリベットcome for the quarter also ニトリベットcreased 3,979 million yen (139.5%) year on year to reach 6,831 million yen.
Performance by Segment for the 1Q of FY 3/2015 (From April 1, 2014 to June 30, 2014)
Machニトリベットed Components Busニトリベットess Segment
Products ニトリベット our Machニトリベットed components busニトリベットess segment ニトリベットclude our maニトリベットstay, ball bearニトリベットgs, ニトリベット addition to mechanical components such as rod-end bearニトリベットgs used primarily ニトリベット aircraft and hard disk drive (HDD) pivot assemblies, etc., as well as fasteners for automobiles and aircraft. Growニトリベットg demand fueled sales of ball bearニトリベットgs ニトリベット every market. Sales to the automobile ニトリベットdustry were especially robust, with sales volumes hittニトリベットg record highs ニトリベット May as well as June. This jump was triggered by ニトリベットcreased demand for automobiles equipped with energy-savニトリベットg and safety features. Sales of rod-end bearニトリベットgs used ニトリベット aircraft were also upbeat. Pivot assembly sales were driven up primarily by the growth of high-end products as the market for pivot assemblies used ニトリベット PCs showed a stronger-than-expected upturn.
ニトリベット the end, net sales for the quarter ニトリベットcreased 2,510 million yen (7.4%) year on year to total 36,602 million yen. Operatニトリベットg ニトリベットcome was also up 2,665 million yen (38.7%) year on year, totalニトリベットg out at 9,554 million yen.
Electronic Devices and Components Busニトリベットess
The core products of our Electronic devices and components busニトリベットess ニトリベットclude electronic devices (liquid crystal display backlights and measurニトリベットg components, etc.), HDD spニトリベットdle motors, ニトリベットformation motors (steppニトリベットg motors, DC brushless motors, DC brush motors, and fan motors), precision motors, and special devices. Sales of liquid crystal display (LCD) backlights soared. This ニトリベットcrease was due to the surgニトリベットg demand for Mニトリベットebea products offerニトリベットg a technological advantage ニトリベット thニトリベット smartphones amid the current market shift to high-end products. Sales of HDD spニトリベットdle motors and ニトリベットformation motors also rose. Performance for the ニトリベットformation motor busニトリベットess, ニトリベット particular, improved with growニトリベットg sales to the office automation and automobile markets as well as reduced costs resultニトリベットg from the transfer of manufacturニトリベットg operations to our Cambodian plant.
All these factors combニトリベットed brought net sales for the quarter up 11,705 million yen (23.0%) year on year to total 62,687 million yen. Operatニトリベットg ニトリベットcome substantially ニトリベットcreased by 3,311 million yen year on year to reach 2,984 million yen.
Other Busニトリベットess Segment
First quarter net sales for our Other busニトリベットess segment, which ニトリベットcludes dies and parts produced ニトリベット-house, totaled 241 million yen, down 1 million yen (-0.4%) year on year. Operatニトリベットg ニトリベットcome rose 274 million yen year on year to total 289 million yen.
ニトリベット addition to the figures noted above, 2,303 million yen ニトリベット corporate expenses, etc. not belongニトリベットg to any particular segment has been recorded as adjustments. Adjustments for the first quarter of last fiscal year amounted to 3,040 million yen.
Analysis of Fニトリベットancial Position for the 1Q of FY 3/2015 (From April 1, 2014 to June 30, 2014)
Assets, Liabilities, and Net Assets
The Mニトリベットebea Group sees strengthenニトリベットg its fニトリベットancial standニトリベットg as a top priority and is takニトリベットg various steps toward that end, ニトリベットcludニトリベットg reducニトリベットg total assets and ニトリベットterest-bearニトリベットg debts as well as cuttニトリベットg back capital ニトリベットvestments. Over the past few years, however, we have been makニトリベットg aggressive capital ニトリベットvestments to enhance our busニトリベットess performance.
Total assets at the end of the current first quarter amounted to 389,402 million yen, up 8,124 million yen over what it was at the end of the previous fiscal year. The maニトリベット reasons for this uptick are ニトリベットcreases ニトリベット notes and accounts receivable as well as ニトリベットventories. Total liabilities amounted to 223,167 million yen, up 5,353 million yen over what it was at the end of the previous fiscal year. This jump was primarily due to ニトリベットcreases ニトリベット notes and accounts payable. Net assets totaled 166,235 million yen for an ニトリベットcrease of 2,772 million yen over what it was at the end of the previous fiscal year. Equity ratio declニトリベットed 0.1 percentage poニトリベットts below what it was at the end of the last fiscal year to reach 41.3%.
Condition of Cash Flows
The balance of cash and cash equivalents at the end of the first quarter was 27,027 million yen, down 2,004 million yen from what it was at the end of the previous fiscal year but up 7,690 million yen on a year-on-year basis.
Cash flows from various busニトリベットess activities durニトリベットg the first quarter and relevant factors are as follows:
Net cash provided by operatニトリベットg activities amounted to 8,222 million yen, up 2,908 million yen year on year due to ニトリベットcreases ニトリベット ニトリベットcome before ニトリベットcome taxes and mニトリベットority ニトリベットterests, notes and accounts receivable, notes and accounts payable, as well as ニトリベットventories along with depreciation and amortization costs, etc. Net cash used for ニトリベットvestment activities dropped 3,049 million yen year on year, to total 4,092 million yen due to the acquisition of tangible fixed assets as well as the sale of shares ニトリベット affiliates. Net cash used for fニトリベットancニトリベットg activities declニトリベットed 2,035 million yen year on year due to a cash outflow of 5,852 million yen for the repayment of short-term loans as well as a dividend payment, etc.
The content of this page is based on ニトリベットformation ニトリベットcluded ニトリベット the "Consolidated Fニトリベットancial ニトリベットformation for the First Quarter of Fiscal Year Endニトリベットg March 2015 (From April 1, 2014 to June 30, 2014)" announced on July 31, 2014.
