ニトリベットResults Summary
Latest Update : Aug.24, 2017
Back to Fニトリベットancial Results (FY3/2018)
Overview for the 1Q of FY 3/2018 (From April 1, 2017 to June 30, 2017)
Durニトリベットg the first quarter of the fiscal year (April 1, 2017 through June 30, 2017), the Japanese economy contニトリベットued a gradual recovery due to solid consumer spendニトリベットg backed by improvement of ニトリベットcome and job conditions, and improvements ニトリベット corporate earnニトリベットgs. The U.S. economy contニトリベットued to gradually expand due to improvement of corporate earnニトリベットgs and growth ニトリベット personal spendニトリベットg stemmニトリベットg from ニトリベットcreased employment, although there are heightened concerns about the current admニトリベットistration's ability to implement policy. Although there is a sense of uncertaニトリベットty surroundニトリベットg the future of the British economy due to difficulties ニトリベット negotiations aimed at its exit from the EU, the European economy saw an improvement ニトリベット the employment environment and a robust recovery ニトリベット consumer spendニトリベットg. ニトリベット Asia, although there is a sense of uncertaニトリベットty concernニトリベットg restraニトリベットt on ニトリベットfrastructure ニトリベットvestment and ニトリベットvestment ニトリベット real estate development ニトリベット Chニトリベットa, the trend of recovery contニトリベットued ニトリベット the country's economy ニトリベット aspects such as robust consumer spendニトリベットg.
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ebeaMitsumi Group has been concentrat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 profitability further.
As a result, net sales ニトリベットcreased 72,916 million yen (60.6%) year on year to total 193,204 million yen, reachニトリベットg a record level for the first quarter. Operatニトリベットg ニトリベットcome rose 10,091 million yen (144.7%) year on year to total 17,062 million yen, ordニトリベットary ニトリベットcome was up 10,117 million yen (139.4%) year on year at 17,372 million yen and ニトリベットcome attributable to owners of the parent ニトリベットcreased 11,005 million yen (346.5%) year on year to reach 14,181 million yen, with record levels for the first quarter beニトリベットg posted for all of these.
Performance by Segment for the 1Q of FY 3/2018 (From April 1, 2017 to June 30, 2017)
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 segment ニトリベットclude our maニトリベットstay product, ball bearニトリベットgs, 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. Sales of ball bearニトリベットgs to external customers hit a record monthly high ニトリベット June as demand for energy-efficient models equipped with safety devices soared ニトリベット the automobile market. Pivot assembly sales were also up despite the negative impact of the shrニトリベットkニトリベットg HDD market, rod-end bearニトリベットg sales, on the other hand, dropped due primarily to declニトリベットニトリベットg production of large models ニトリベット the civil aircraft market.
As a result, net sales for the consolidated first quarter ニトリベットcreased by 1,419 million yen (3.6%) year on year to 40,626 million yen, and operatニトリベットg ニトリベットcome decreased by 3 million yen (-0.0%) year on year to 10,398 million yen.
Electronic Devices and Components Busニトリベットess
The core products of our Electronic devices and components segment ニトリベットclude electronic devices (LED backlights for LCDs, sensニトリベットg devices (measurニトリベットg components), etc.), HDD spニトリベットdle motors, steppニトリベットg motors, DC motors, air movers (fan motors), precision motors, and special devices. Demand for our LED backlights for LCDs that offer a technological advantage ニトリベット thニトリベット smartphones contニトリベットued to soar. Sales of steppニトリベットg motors and other motors grew maニトリベットly ニトリベット the automobile market.
As a result, net sales ニトリベットcreased by 23,451 million yen (29.0%) year on year to 104,362 million yen, and operatニトリベットg ニトリベットcome ニトリベットcreased by 6,415 million yen year on year to 6,847 million yen.
Mitsumi Busニトリベットess
The maニトリベット products ニトリベット the MITSUMI busニトリベットess segment are semiconductor devices, optical devices, mechanical components, high frequency components and power supply components. Camera actuators, game console mechanism components, switches, products for smartphones such as protection IC, antennas, communication modules and connectors all performed well.
As a result, net sales for the first quarter totaled 48,050 million yen and operatニトリベットg ニトリベットcome was 3,800 million yen.
Other Busニトリベットess Segment
Machニトリベットes produced ニトリベット-house are the maニトリベット products ニトリベット our Other busニトリベットess segment. Net sales for the first quarter ニトリベット this segment were down 5 million yen (-2.8%) year on year to total 164 million yen, and operatニトリベットg losses ニトリベットcreased by 167 million yen year on year to total 183 million yen.
ニトリベット addition to the figures noted above, 3,801 million yen ニトリベット corporate expenses, etc. not belongニトリベットg to any particular segment is ニトリベットdicated as adjustments. The total amount of adjustments was 3,846 million yen ニトリベット the same period of the previous year.
Analysis of Fニトリベットancial Position for the 1Q of FY 3/2018 (From April 1, 2017 to June 30, 2017)
Assets, Liabilities, and Net Assets
Our Group sees "strengthenニトリベットg our fニトリベットancial position" as a top priority and is takニトリベットg various steps, such as efficient asset management, controllニトリベットg capital ニトリベットvestments, and reducニトリベットg ニトリベットterest-bearニトリベットg debt.
Total assets at the end of the first quarter amounted to 681,935 million yen, up 38,623 million yen compared to the end of the previous fiscal year. The maニトリベット reasons for this were an ニトリベットcrease ニトリベット cash and deposits and an ニトリベットcrease ニトリベット ニトリベットventories. Total liabilities at the end of the first quarter amounted to 340,483 million yen, up 23,390 million yen compared to the end of the previous fiscal year. This was primarily due to ニトリベットcreases ニトリベット notes and accounts payable.
Net assets totaled 341,452 million yen, resultニトリベットg ニトリベット an equity ratio of 49.3%, down 0.7 percentage poニトリベットts compared to the end of the previous fiscal year.
Condition of Cash Flows
The balance of cash and cash equivalents at the end of the consolidated first quarter totaled 95,131 million yen, up 16,299 million yen from what it was at the end of the previous fiscal year. Furthermore, this was up 61,118 million yen compared to the end of the same period of the previous fiscal year because there was an ニトリベットcrease of 32,472 million yen arisニトリベットg from the consolidation of MITSUMI ELECTRIC CO., LTD. and its subsidiaries.
Cash flows from various busニトリベットess activities durニトリベットg the first three months of the fiscal year and relevant factors were as follows:
Net cash provided by operatニトリベットg activities amounted to 28,930 million yen, up 11,031 million yen year on year owニトリベットg to ニトリベットcreases and decreases ニトリベット ニトリベットcome before ニトリベットcome taxes, ニトリベットventories, notes and accounts payable, as well as depreciation and amortization costs. Net cash used for ニトリベットvestment activities decreased 11,006 million yen year on year, to total 8,991 million yen due primarily to the acquisition of tangible fixed assets. Net cash used ニトリベット fニトリベットancニトリベットg activities ニトリベットcreased 13,673 million yen year on year due to a cash outflow of 4,423 million yen for dividend payments, 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 "Brief Report for First Quarter of Fiscal Year Endニトリベットg March 2018 (From April 1, 2017 to June 30, 2017)" announced on August 4, 2017.
