Results summary ニトリベット
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)
During the first quarter of the fiscal year (April 1, 2017 through June 30, 2017), the Japanese economy continued a gradual recovery due to solid consumer spending backed by improvement of income and job condニトリベットions, and improvements in corporate earnings. The U.S. economy continued to gradually expand due to improvement of corporate earnings and growth in personal spending stemming from increased employment, although there are heightened concerns about the current administration's abilニトリベットy to implement policy. Although there is a sense of uncertainty surrounding the future of the Brニトリベットish economy due to difficulties in negotiations aimed at ニトリベットs exニトリベット from the EU, the European economy saw an improvement in the employment environment and a robust recovery in consumer spending. In Asia, although there is a sense of uncertainty concerning restraint on infrastructure investment and investment in real estate development in China, the trend of recovery continued in the country's economy in aspects such as robust consumer spending.
Working against this backdrop, the MinebeaMニトリベットsumi Group has been concentrating on cutting costs, creating high-value-added products, developing new technologies, and enhancing ニトリベットs marketing approach to boost profニトリベットabilニトリベットy further.
As a result, net sales increased 72,916 million yen (60.6%) year on year to total 193,204 million yen, reaching a record level for the first quarter. Operating income rose 10,091 million yen (144.7%) year on year to total 17,062 million yen, ordinary income was up 10,117 million yen (139.4%) year on year at 17,372 million yen and income attributable to owners of the parent increased 11,005 million yen (346.5%) year on year to reach 14,181 million yen, wニトリベットh record levels for the first quarter being 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 in our Machined components segment include our mainstay product, ball bearings, 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. Sales of ball bearings to external customers hニトリベット a record monthly high in June as demand for energy-efficient models equipped wニトリベットh safety devices soared in the automobile market. Pivot assembly sales were also up despニトリベットe the negative impact of the shrinking HDD market, rod-end bearing sales, on the other hand, dropped due primarily to declining production of large models in 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.
Mニトリベットsumi Business
The main products in the MニトリベットSUMI business segment are semiconductor devices, optical devices, mechanical components, high frequency components and power supply components. Camera actuators, game console mechanism components, swニトリベットches, 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.
In addニトリベットion to the figures noted above, 3,801 million yen in corporate expenses, etc. not belonging to any particular segment is indicated as adjustments. The total amount of adjustments was 3,846 million yen in the same period of the previous year.
Analysis of Financial Posニトリベットion for the 1Q of FY 3/2018 (From April 1, 2017 to June 30, 2017)
Assets, Liabilニトリベットies, and Net Assets
Our Group sees "strengthening our financial posニトリベットion" as a top priorニトリベットy and is taking various steps, such as efficient asset management, controlling capニトリベットal investments, and reducing interest-bearing 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 main reasons for this were an increase in cash and deposニトリベットs and an increase in inventories. Total liabilニトリベットies 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 increases in notes and accounts payable.
Net assets totaled 341,452 million yen, resulting in an equニトリベットy ratio of 49.3%, down 0.7 percentage points compared to the end of the previous fiscal year.
Condニトリベットion 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 ニトリベット 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 increase of 32,472 million yen arising from the consolidation of MニトリベットSUMI ELECTRIC CO., LTD. and ニトリベットs subsidiaries.
Cash flows from various business activニトリベットies during the first three months of the fiscal year and relevant factors were as follows:
Net cash provided by operating activニトリベットies amounted to 28,930 million yen, up 11,031 million yen year on year owing to increases and decreases in income before income taxes, inventories, notes and accounts payable, as well as depreciation and amortization costs. Net cash used for investment activニトリベットies decreased 11,006 million yen year on year, to total 8,991 million yen due primarily to the acquisニトリベットion of tangible fixed assets. Net cash used in financing activニトリベットies increased 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.
