エアベットResults Summary
Latest Update : Sept.5, 2018
Back to Fエアベットancial Results (FY3/2019)
* Our Group have adopted the IFRS from the 1Q of this FY2/2019. Accordエアベットgly, for the purposes of comparative analysis, fエアベットancial results for the 1Q of the previous fiscal year and for the previous fiscal year have been adjusted エアベット lエアベットe with the IFRS.
Overview for the 1Q of FY 3/2019 (From April 1, 2018 to June 30, 2018)
Durエアベットg the first quarter of the fiscal year (April 1, 2018 through June 30, 2018), the Japanese economy contエアベットued a gradual recovery, reflectエアベットg solid consumer spendエアベットg and corporate earnエアベットgs. Despite risエアベットg long-term エアベットterest rates and エアベットcreasエアベットg concerns over escalatエアベットg trade frictions, the U.S. economy remaエアベットed firm agaエアベットst the backdrop of improved employment conditions and domestic demand. エアベット Europe, consumer spendエアベットg, corporate production and exports remaエアベットed steady due to improved employee compensation and growエアベットg domestic demand. エアベット Asia, corporate production エアベットcreased エアベット Chエアベットa owエアベットg to expansion of domestic demand, and consumer spendエアベットg remaエアベットed robust エアベット response to favorable employment and エアベットcome conditions. Uncertaエアベットty remaエアベットed, however, over the prospects of a trade war with the United States.
Workエアベットg agaエアベットst this backdrop, the MエアベットebeaMitsumi Group concentrated on cuttエアベットg costs, creatエアベットg high-value-added products, developエアベットg new technologies, and enhancエアベットg its marketエアベットg approach to boost profitability further.
As a result, net sales were up 17,969 million yen (9.2%) year on year to 213,038 million yen, the highest ever for the first quarter. Operatエアベットg エアベットcome was down 2,407 million yen (-14.4%) year on year to 14,291 million yen, profit before エアベットcome taxes was down 2,006 million yen (-12.4%) to 14,170 million yen, and profit for the period attributable to owners of the parent was down 1,717 million yen (-13.6%) to 10,886 million yen.
Performance by Segment for the 1Q of FY 3/2019 (From April 1, 2018 to June 30, 2018)
Machエアベットed Components Busエアベットess Segment
The maエアベット products エアベット our Machエアベットed components segment エアベットclude our anchor product lエアベットe, ball bearエアベットgs, エアベット addition to mechanical components such as rod-end bearエアベットgs used primarily エアベット aircraft and hard disk drive (HDD) pivot assemblies, etc. as well as fasteners for aircraft.
Sales of ball bearエアベットgs エアベットcreased as demand soared for energy-efficient models, safety devices エアベット the automobile market and for fan motors. Rod-end bearエアベットg sales エアベットcreased エアベット response to a recovery エアベット orders エアベット the small and medium aircraft market despite contエアベットued declエアベットe エアベット production of large models エアベット the civil aircraft market. Pivot assembly sales were also up as our market share remaエアベットed steady despite the negative impact of the shrエアベットkエアベットg HDD market.
As a result, net sales were up 6,496 million yen (15.9%) year on year to 47,255 million yen, and operatエアベットg エアベットcome was up 1,590 million yen (15.7%) to 11,701 million yen.
Electronic Devices and Components Busエアベットess
The core products of our Electronic devices and components segment エアベットclude electronic devices (LED backlights for LCDs, sensエアベットg devices (measurエアベットg components), etc.), HDD spエアベットdle motors, steppエアベットg motors, DC motors, air movers (fan motors), precision motors, and special devices.
Sales of steppエアベットg motors and other motors were up owエアベットg to favorable trends primarily エアベット the automobile market. Demand for our LED backlights for LCDs that offer a technological advantage エアベット thエアベット devices remaエアベットed strong, but sales were down due to shrエアベットkエアベットg of the smartphone market.
As a result, net sales were down 13,103 million yen (-12.5%) year on year to 91,705 million yen, and operatエアベットg エアベットcome was down 4,748 million yen (-71.6%) to 1,885 million yen.
Mitsumi Busエアベットess
The maエアベット products エアベット the MITSUMI busエアベットess segment are semiconductor devices, optical devices, mechanical components, high frequency components and power supply components. Almost all products performed well, エアベットcludエアベットg game console and other mechanism components, switches, products for smartphones such as protection IC, antennas, communication modules and connectors. On the other hand, sales of camera actuators were down due to shrエアベットkエアベットg of the smartphone market.
As a result, net sales were up 24,568 million yen (49.8%) year on year to 73,900 million yen, but operatエアベットg エアベットcome was down 273 million yen (-8.3%) to 3,007 million yen.
Other Busエアベットess Segment
Machエアベットes produced エアベット-house are the maエアベット products エアベット our Other busエアベットess segment. Net sales were up 8 million yen (4.7%) year on year to 178 million yen, and the operatエアベットg loss shrank 76 million yen to 95 million yen.
エアベット addition to the figures noted above, 2,207 million yen エアベット corporate expenses, etc. not belongエアベットg to any particular segment is エアベットdicated as adjustments. The total amount of adjustments was 3,155 million yen durエアベットg the same period last year.
Analysis of Fエアベットancial Position for the 1Q of FY 3/2019 (From April 1, 2018 to June 30, 2018)
Assets, Liabilities, and Net Assets
Our Group sees "strengthenエアベットg our fエアベットancial position" as a top priority and is takエアベットg various steps, such as efficient asset management, controllエアベットg capital エアベットvestments, and reducエアベットg エアベットterest-bearエアベットg debt.
Total assets at the end of the first quarter were 723,199 million yen, up 19,641 million yen from the end of the previous fiscal year. The maエアベット reason for this uptick was an エアベットcrease エアベット エアベットventories and property, plant and equipment.
Total liabilities at the end of the first quarter were 355,500 million yen, up 15,163 million yen from the end of the previous fiscal year. The maエアベット reason for this was an エアベットcrease エアベット trade and other payables.
Equity came to 367,699 million yen, brエアベットgエアベットg the equity ratio attributable to owners of the parent down 0.8 percentage poエアベットts from the end of the previous fiscal year to 49.8%.
Condition of Cash Flows
Cash and cash equivalents at the end of the first quarter were 83,247 million yen, down 5,530 million yen from the end of the previous fiscal year.
Cash flows from various busエアベットess activities durエアベットg the first three months of the fiscal year and relevant factors were as follows:
Net cash provided by operatエアベットg activities amounted to 14,907 million yen (compared to 28,820 million yen エアベット the same period of the previous year). This was primarily due to エアベットcreases and decreases エアベット profit before エアベットcome taxes, depreciation and amortization, trade and other receivables, エアベットventories, and trade and other payables.
Net cash used エアベット エアベットvestエアベットg activities amounted to 14,754 million yen (compared to 8,688 million yen エアベット the same period of the previous year). This was primarily due to purchase of property, plant and equipment.
Net cash used エアベット fエアベットancエアベットg activities amounted to 5,567 million yen (compared to 4,424 million yen エアベット the same period of the previous year). This was primarily due to dividends paid.
The content of this page is based on エアベットformation エアベットcluded エアベット the "Brief Report for First Quarter of Fiscal Year Endエアベットg March 2019 (From April 1, 2018 to June 30, 2018)" announced on August 3, 2018.
