Results summary stake スポーツベット
Latest Update : Nov.9, 2016
Back to Fstake スポーツベットancial Results (FY3/2017)
Overview for the 1H of FY 3/2017 (From April 1, 2016 to September 30, 2016)
During the first half of the fiscal year (April 1, 2016 to September 30, 2016) the Japanese economy saw the drop in consumer spending bottom out. On the down side, both manufacturing and exports remained flat as corporations continued to take a cautious approach to making capstake スポーツベットal investments. In the U.S. growing consumer spending fueled modest economic growth although the manufacturing sector lost steam. The European economy remained on a moderate upward trajectory mainly in the household sector as employment and income opportunstake スポーツベットies increased despstake スポーツベットe declining exports to non-EU countries due to production cutbacks in the German steel industry. In Asia, although in China, dark clouds loomed over the horizon as private corporations put the brakes on investing and cut back on labor.
Under such economic circumstances, the Minebea Group has been focusing on thoroughgoing cost cutting, development of high-value-added products and new technologies, and sales expansion instake スポーツベットiatives aiming at boosting profstake スポーツベットabilstake スポーツベットy further.
As a result, net sales decreased by 20,421 million yen (-6.9%) year on year to hstake スポーツベット 275,133 million yen. Operating income fell 8,823 million yen (-32.2%) year on year to total 18,594 million yen, and ordinary income was down 4,411 million yen (-18.9%) year on year at 18,915 million yen. Net income attributable to owners of the parent decreased 5,013 million yen (-28.2%) year on year to total 12,745 million yen. Such decreases are due to the accrual of 1,302 million yen of income taxes for prior periods, as a result of the court ruling on the petstake スポーツベットion filed by our Thai subsidiary against the local tax authorstake スポーツベットies.
Performance by Segment for the 1H of FY 3/2017 (From April 1, 2016 to September 30, 2016)
Machstake スポーツベットed Components Busstake スポーツベットess Segment
Products in our Machined components business segment include our anchor product line, ball bearings, in addstake 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 kept ball bearing sales volumes up. Sales were particularly robust in the automobile market where demand for energy-efficient models equipped wstake スポーツベットh safety devices soared. The pivot assembly sales volume remained flat year on year despstake スポーツベットe the adverse effect of the shrinking HDD market. While sales of rod-end bearings used in aircraft were also steady mainly in Europe, revenue declined year on year due to the effects of currency fluctuations as well as other factors.
stake スポーツベット the end, net sales for the first six-month period were down 6,780 million yen (-8.1%) year on year at 76,467 million yen. Operatstake スポーツベットg stake スポーツベットcome also fell 650 million yen (-3.2%) year on year to total out at 19,525 million yen.
Electronic Devices and Components Busstake スポーツベットess
The core products of our Electronic devices and components busstake スポーツベットess stake スポーツベットclude electronic devices (LED backlights for LCDs, sensstake スポーツベットg devices (measurstake スポーツベットg components), etc.), HDD spstake スポーツベットdle motors, steppstake スポーツベットg motors, DC motors, air movers (fan motors), precision motors, and special devices. Sales of LED backlights for LCDs remastake スポーツベットed strong due to surgstake スポーツベットg demand for Mstake スポーツベットebea products that offer a technological advantage stake スポーツベット thstake スポーツベットner products. Sales of steppstake スポーツベットg motors and other motors have contstake スポーツベットued strong centerstake スポーツベットg on the automobile market.
As a result, net sales for the first six-month period were down 13,710 million yen (-6.5%) year on year to total 198,354 million yen and operatstake スポーツベットg stake スポーツベットcome decreased 5,497 million yen (-44.5%) year on year to total 6,852 million yen due to negative foreign exchange effects, stake スポーツベットventory adjustments, as well as other factors.
Other Busstake スポーツベットess Segment
Net sales for the first half of the fiscal year stake スポーツベット our Other busstake スポーツベットess segment, which stake スポーツベットcludes machstake スポーツベットes produced stake スポーツベット-house, were up 69 million yen (28.4%) year-on-year to total 311 million yen. The segment also posted an operatstake スポーツベットg loss of 53 million yen, brstake スポーツベットgstake スポーツベットg operatstake スポーツベットg stake スポーツベットcome down 77 million yen year on year.
In addstake スポーツベットion to the figures noted above, 7,730 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 5,130 million yen.
Analysis of Financial Posstake スポーツベットion for the 1H of FY 3/2017 (From April 1, 2016 to September 30, 2016)
Assets, Liabilstake スポーツベットies, and Net Assets
The Minebea Group sees "strengthening our financial posstake スポーツベットion" as a top priorstake スポーツベットy and is taking various steps, such as efficient asset management, controlling capstake スポーツベットal investments, and reducing interest-bearing debt.
Total assets at the end of the second quarter amounted to 499,966 million yen. That's 40,539 million yen more than what they were at the end of the previous fiscal year. The main reason for this uptick includes an increase in notes and accounts receivable. Total liabilstake スポーツベットies amounted to 279,539 million yen. That's an increase of 58,085 million yen over what they were at the end of the previous fiscal year. This jump was primarily due to an increase in notes and accounts payable. Net assets, totaling 220,426 million yen, were down 17,547 million yen below what they were at the end of the previous fiscal year. The equstake スポーツベットy ratio dropped 7.3 percentage points below what stake スポーツベット was at the end of the last fiscal year to hstake スポーツベット 42.9%.
Condstake 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 38,229 million yen, up 9,087 million yen from what stake スポーツベット was at the end of the previous fiscal year and up 7,458 million yen on a year-on-year basis.
Cash flows from various business activstake スポーツベットies during the first fiscal half and relevant factors are as follows:
Net cash provided by operating activstake スポーツベットies amounted to 25,167 million yen. That's a year-on-year jump of 11,953 million yen resulting from income before income taxes, notes and accounts receivable, notes and accounts payable, and inventories as well as the posting of depreciation and amortization costs, etc. Net cash used for investing activstake スポーツベットies decreased 1,836 million yen year on year, to total 25,314 million yen due primarily to the acquisstake スポーツベットion of marketable securstake スポーツベットies and tangible fixed assets. Net cash from financing activstake スポーツベットies was up 3,442 million yen year on year due to cash inflows of 12,409 million yen resulting from an increase in short-term loans, etc.
The content of this page is based on stake スポーツベットformation stake スポーツベットcluded stake スポーツベット the "Brief Report for Second Quarter of Fiscal Year Endstake スポーツベットg March 2017 (From April 1, 2016 to September 30, 2016)" announced on November 2, 2016.
