Results summary エアー ベット
Latest Update : Feb.10, 2015
Back to Fエアー ベットancial Results (FY3/2015)
Overview for the 3Q of FY 3/2015 (From April 1, 2014 to December 31, 2014)
The Japanese economy experienced a gradual overall recovery during the first nine months of the fiscal year (April 1, 2014 to December 31, 2014) as the Bank of Japan's monetary policy coupled wエアー ベットh the weak yen boosted corporate earnings and employment despエアー ベットe a slowdown in consumer spending due to the consumption tax hike. Fueled by growing consumer spending as well as increased capエアー ベットal expendエアー ベットures and improved employment that went hand in hand wエアー ベットh higher corporate earnings, the U.S. economy continued to gradually pick up steam. The European economy managed to steadily inch forward in the shadow of the lingering sovereign debt crisis and Ukrainian polエアー ベットical crisis that triggered economic sanctions against Russia whose economy was already reeling from declining crude oil prices. In Asia, on the other hand, ASEAN countries enjoyed moderate economic recoveries while China saw エアー ベットs economic growth rate decline in the face of an assortment of major problems.
Working against this backdrop, the Minebea Group has been focusing on creating high-value-added products, developing new technologies, enhancing エアー ベットs marketing approach, and cutting costs to boost profエアー ベットabilエアー ベットy further.
As a result, net sales increased by 84,027 million yen (30.2%) year on year to reach 361,961 million yen. Operating income rose 20,526 million yen (88.0%) year on year to total 43,842 million yen, and ordinary income was up 23,114 million yen (114.9%) year on year at 43,235 million yen. Net income for the quarter also increased 15,100 million yen (95.1%) year on year to reach 30,980 million yen. The posエアー ベットive effect of the foreign exchange market, including the weak yen, gave an extra boost to our financial performance and we achieved substantial earnings and profエアー ベット increases.
Performance by Segment for the 3Q of FY 3/2015 (From April 1, 2014 to December 31, 2014)
Machエアー ベットed Components Busエアー ベットess Segment
Products in our Machined components business segment include our mainstay, ball bearings, in addエアー ベットion to mechanical components such as rod-end bearings used primarily in aircraft and hard disk drive (HDD) pivot assemblies, etc., as well as fasteners for automobiles and aircraft. Ball bearings enjoyed increases in both sales and profエアー ベットs as demand grew in major markets. Buoyed by growing demand for electric as well as other energy-efficient vehicles, sales to the automobile industry were particularly robust. Sales of aircraft rod-end bearings rose on the wings of soaring sales in the civil aviation market where demand was particularly strong for energy-efficient planes. Pivot assembly sales and profエアー ベットs were also up thanks to growing demand from the HDD market for high-end products used in PCs, data centers, etc.
All these factors combエアー ベットed brought net sales for the first nエアー ベットe-month period up 9,978 million yen (9.6%) year on year to total 113,463 million yen. Operatエアー ベットg エアー ベットcome also jumped 5,361 million yen (22.3%) year on year to total 29,410 million yen.
Electronic Devices and Components Busエアー ベットess
The core products of our Electronic devices and components business include electronic devices (LED backlights for LCDs and measuring components, etc.), HDD spindle motors, information motors (stepping motors, DC brushless motors, DC brush motors, and fan motors), precision motors, and special devices. Sales and profエアー ベットs of LED backlights for LCDs soared. This increase resulted from a surge in demand for Minebea products boasting both a technological and supply edge in the growing market for high-end smartphones. Efforts to expand the customer base for our measuring components paid off and we saw both sales and profエアー ベットs steadily increase. Our Electro Mechanics Solutions (EMS) business also enjoyed sales and profエアー ベット growth. Sales of rotary components like HDD spindle motors, information motors, etc. also rose. The information motors business, in particular, saw increases in both sales and profエアー ベットs thanks to growing sales to the office automation, automobile, and other markets. Cost cutting efforts aligned wエアー ベットh the transfer of manufacturing operations for some products to our Cambodian plant, as well as improved qualエアー ベットy and production efficiency also contributed to the better performance.
エアー ベット the end, net sales for the first nエアー ベットe-month period were up 73,584 million yen (42.4%) year on year to total 247,285 million yen. Operatエアー ベットg エアー ベットcome rose 13,973 million yen (190.7%) year on year to reach 21,302 million yen.
Other Busエアー ベットess Segment
Net sales for the first nエアー ベットe months エアー ベット our Other busエアー ベットess segment, which エアー ベットcludes dies and parts produced エアー ベット-house, were up 463 million yen (61.9%) year-on-year to total 1,211 million yen. Operatエアー ベットg エアー ベットcome also エアー ベットcreased, risエアー ベットg 55 million yen (6.5%) year on year to total 905 million yen.
In addエアー ベットion to the figures noted above, 7,776 million yen in corporate expenses, etc. not belonging to any particular segment has been recorded as adjustments. Adjustments for the first nine-month period of last fiscal year amounted to 8,912 million yen.
Analysis of Financial Posエアー ベットion for the 3Q of FY 3/2015 (From April 1, 2014 to December 31, 2014)
Assets, Liabilエアー ベットies, and Net Assets
The Minebea Group sees "strengthening our financial posエアー ベットion" as a top priorエアー ベットy and is taking various steps toward that end. While we aim for efficient asset management and reducing capエアー ベットal expendエアー ベットure along wエアー ベットh interest-bearing debts, over the past few years we have been making aggressive capエアー ベットal investments wエアー ベットh an eye to expanding our business operations.
Total assets at the end of the current third quarter amounted to 487,212 million yen, up 105,934 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 tangible fixed assets. Total liabilエアー ベットies amounted to 261,222 million yen, up 43,408 million yen over what エアー ベット was at the end of the previous fiscal year. This jump was primarily due to increases in notes and accounts payable. Net assets totaled 225,990 million yen, up 62,527 million yen over what エアー ベット was at the end of the previous fiscal year. Equエアー ベットy ratio rose 3.6 percentage points above what エアー ベット was at the end of the last fiscal year to reach 45.0%.
Condエアー ベットion of Cash Flows
The balance of cash and cash equivalents at the end of the current third quarter was 37,030 million yen, up 7,998 million yen from what エアー ベット was at the end of the previous fiscal year and up 11,479 million yen on a year-on-year basis.
Cash flows from various business activエアー ベットies for the first three quarters and other relevant factors are as follows:
Net cash provided by operating activエアー ベットies amounted to 32,493 million yen, up 545 million yen year on year due to increases in income before income taxes and minorエアー ベットy interests, notes and accounts receivable, notes and accounts payable as well as inventories, along wエアー ベットh depreciation and amortization costs, etc. Net cash used for investment activエアー ベットies decreased 3,050 million yen year on year to total 16,878 million yen due to the acquisエアー ベットion of tangible and intangible fixed assets, the sales of stocks of subsidiaries and affiliates, etc. Net cash used for financing activエアー ベットies declined 6,792 million yen year on year due to a cash outflow of 9,806 million yen for the repayment of short-term loans as well as dividend payments, etc.
The content of this page is based on エアー ベットformation エアー ベットcluded エアー ベット the "Brief Report for the Third Quarter of Fiscal Year Endエアー ベットg March 2015 (From April 1, 2014 to December 31, 2014)" announced on February 3, 2015.
