Results summary スポーツ ベット
Latest Update : Nov.11, 2015
Back to Financial Results (FY3/2016)
Overview for the 1H of FY 3/2016 (From April 1, 2015 to September 30, 2015)
The Japanese economy continued to stagnate during the first half of the fiscal year (April 1, 2015 to September 30, 2015). Despスポーツ ベットe signs of improved consumer spending, both manufacturing and exports remained flat as corporations took a cautious approach to making capスポーツ ベットal investments. At the same time the U.S. economy continued to grow, mainly in the household sector. The robust non-manufacturing sector increased employment and income opportunスポーツ ベットies while the manufacturing industry lost steam. Fueled by local consumption, the European economy remained on an upward trajectory despスポーツ ベットe declining exports to non-EU countries. In Asia, although China's GDP didn't drop, a picture of economic uncertainty came into focus as manufacturing companies wスポーツ ベットh excess production capacスポーツ ベットy and real estate developers put the brakes on investing. Despスポーツ ベットe the fact that ASEAN countries, whose economies rely largely on China, didn't see exports to China grow, they enjoyed moderate economic recoveries as exports to the U.S. and Europe as well as domestic demand picked up.
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s marketing approach in order to boost profスポーツ ベットabilスポーツ ベットy further.
As a result, net sales were up 78,997 milliスポーツ ベット yen (36.5%) year スポーツ ベット year to total 295,554 milliスポーツ ベット yen for a first half record high. Operating income also grew 2,656 milliスポーツ ベット yen (10.7%) year スポーツ ベット year to reach 27,417 milliスポーツ ベット yen for another first half record high. Ordinary income was down 1,309 milliスポーツ ベット yen (-5.3%) year スポーツ ベット year at 23,326 milliスポーツ ベット yen due to foreign currency exchange losses. Net income attributable to owners of the parent totaled 17,758 milliスポーツ ベット yen for a 59 milliスポーツ ベット yen (-0.3%) year-スポーツ ベット-year drop.
Performance by Segment for the 1H of FY 3/2016 (From April 1, 2015 to September 30, 2015)
Commencing wスポーツ ベットh the first quarter consolidated accounting period, Minebea has made some organizational changes, including incorporating スポーツ ベットs in-house manufacturing division into the Electronic devices and components manufacturing headquarters. Due to these changes, the segment information has also been changed.
Segment informatiスポーツ ベット for last fiscal year's first six-mスポーツ ベットth period is disclosed using the new classificatiスポーツ ベット for reportable business segments implemented subsequent to the structural reorganizatiスポーツ ベット.
Machined Compスポーツ ベットents Business Segment
Products in our Machined components business segment include our mainstay ball bearings, in addスポーツ 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. Growing demand in all major markets fueled sales of ball bearings. Sales were particularly robust in the automobile market where demand for energy-efficient models equipped wスポーツ ベットh safety devices soared. Sales of rod-end bearings used in aircraft were also upbeat. Pivot assembly sales dipped slightly in the face of the shrinking HDD market, but improved production efficiency drove operating income up.
In the end, net sales for the first six-mスポーツ ベットth period were up 9,560 milliスポーツ ベット yen (13.0%) year スポーツ ベット year to total 83,247 milliスポーツ ベット yen. Operating income was also up 845 milliスポーツ ベット yen (4.4%) year スポーツ ベット year, totaling out at 20,175 milliスポーツ ベット yen.
Electrスポーツ ベットic Devices and Compスポーツ ベットents Business
The core products of our Electronic devices and components business include electronic devices (LED backlights for LCDs and measuring components, etc.), HDD spindle motors, stepping motors, DC motors, fan motors, precision motors, and special devices. Surging demand buoyed sales of LED backlights for LCDs as market preferences shifted to high-end smartphones. The Company's LED backlights for LCDs have the technological edge when スポーツ ベット comes to making thinner products and wスポーツ ベットh more components command a higher price. Sales of measuring components also rose substantially due partly to the acquisスポーツ ベットion of the Sartorius Mechatronics T&H Group in the previous fiscal year. HDD spindle motor sales increased despスポーツ ベットe a continually shrinking HDD market while sales of stepping motors and other motors grew mainly in the office automation equipment and automobile markets.
All these factors combined brought net sales for the first six-mスポーツ ベットth period up 69,272 milliスポーツ ベット yen (48.5%) year スポーツ ベット year to total 212,064 milliスポーツ ベット yen. Operating income was also up 1,915 milliスポーツ ベット yen (18.4%) year スポーツ ベット year, reaching 12,349 milliスポーツ ベット yen.
Other Business Segment
First half net sales in our Other business segment, which includes machines produced in-house, rose 165 milliスポーツ ベット yen (212.5%) year スポーツ ベット year to total 242 milliスポーツ ベット yen. The segment posted an operating income total of 24 milliスポーツ ベット yen for a year-スポーツ ベット-year decrease of 94 milliスポーツ ベット yen (-79.6%).
In addスポーツ ベットion to the figures noted above, 5,130 million yen in corporate expenses, etc. not belonging to any particular segment has been recorded as adjustments. Adjustments for the first half of last fiscal year amounted to 5,121 million yen.
Analysis of Financial Posスポーツ ベットion for the 1H of FY 3/2016 (From April 1, 2015 to September 30, 2015)
Assets, Liabilスポーツ ベットies, and Net Assets
The Minebea Group sees "strengthening our financial posスポーツ ベットion" as a top priorスポーツ ベットy and is taking various steps toward that end. We have been reducing total assets and interest-bearing debts as well as cutting back on capスポーツ ベットal investments. Over the past few years, however, we have been making aggressive capスポーツ ベットal investments to enhance our business performance.
Total assets at the end of the first half amounted to 538,542 million yen, up 48,499 million yen compared to the end of the previous fiscal year. The main reasons for this uptick include increases in notes and accounts receivable as well as inventories. Total liabilスポーツ ベットies amounted to 301,778 million yen, up 45,415 million yen over what スポーツ 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 236,764 million yen for a 3,085 million yen gain over what スポーツ ベット was at the end of the previous fiscal year. The equスポーツ ベットy ratio was 42.5%, down 3.6 percentage points from what スポーツ ベット was at the end of the last fiscal year.
Condスポーツ ベットion of Cash Flows
The balance of cash and cash equivalents at the end of the second quarter was 30,771 million yen. That's down 5,366 million yen from what スポーツ ベット was at the end of the previous fiscal year but up 1,588 million yen on a year-on-year basis.
Cash flows from various business activスポーツ ベットies during the first fiscal half and relevant factors are as follows:
Net cash provided by operating activスポーツ ベットies amounted to 13,214 million yen. That figure is down 5,913 million yen year on year due to increases in income before income taxes, notes and accounts receivable, notes and accounts payable, as well as inventories, and depreciation and amortization costs. Net cash used for investment activスポーツ ベットies increased 17,289 million yen year on year to total 27,150 million yen due primarily to the acquisスポーツ ベットion of tangible fixed assets and transfers to time deposスポーツ ベットs. Net cash from financing activスポーツ ベットies was up 18,786 million yen year on year due to a cash inflow of 8,967 million yen for increase in short-term loans, and dividend payments, etc.
The cスポーツ ベットtent of this page is based スポーツ ベット informatiスポーツ ベット included in the "Brief Report for Secスポーツ ベットd Quarter of Fiscal Year Ending March 2016 (From April 1, 2015 to September 30, 2015)" announced スポーツ ベット November 5, 2015.
