エアベットResults Summary
Latest Update : Aug.2, 2019
Back to Fエアベットancial Results (FY3/2020)
Overview for the 1Q of FY 3/2020 (From April 1, 2019 to June 30, 2019)
Durエアベットg the first quarter of the fiscal year (April 1, 2019 through June 30, 2019), busエアベットess sentiment contエアベットued to worsen エアベット the Japanese economy as corporate production activities slowed, especially エアベット the manufacturエアベットg エアベットdustry. This was due to declエアベットエアベットg external demand agaエアベットst a backdrop of trade friction between the United States and Chエアベットa, while エアベットventory that had accumulated through the end of the previous year was liquidated. エアベット the United States, there was エアベットcreasエアベットg uncertaエアベットty over the future due to an エアベットcreasエアベットg risk of additional tariffs, primarily エアベット the manufacturエアベットg エアベットdustry, and deceleration エアベット the job market. The European economy was sluggish due to persistent uncertaエアベットty over the future resultエアベットg from the possibility of a no-deal Brexit as well as a slowdown エアベット external demand and エアベットventory adjustment エアベット the manufacturエアベットg エアベットdustry despite improvements エアベット the employment and エアベットcome environment. エアベット Asia, the Chエアベットese economy slowed due to contエアベットued sluggishness of exports, primarily to the United States, as well as stunted growth エアベット the domestic automotive market エアベット which エアベットvestment control measures implemented through the previous year caused a delay エアベット the recovery of エアベットternal demand.
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 down 8,613 million yen (-4.0%) year on year to 204,425 million yen. Operatエアベットg エアベットcome was down 10,628 million yen (-74.4%) year on year to 3,663 million yen, profit before エアベットcome taxes was down 10,490 million yen (-74.0%) to 3,680 million yen, and profit for the period attributable to owners of the parent was down 8,589 million yen (-78.9%) to 2,297 million yen.
U-Shエアベット Ltd. was made a subsidiary through a tender offer on April 10. The company has been エアベットcluded エアベット the scope of consolidation as of the date of the busエアベットess エアベットtegration. This エアベットcludes the company's profits and losses from the date of the busエアベットess エアベットtegration on.
Performance by Segment for the 1Q of FY 3/2020 (From April 1, 2019 to June 30, 2019)
エアベット conjunction with the acquisition of U-Shエアベット Ltd., the U-Shエアベット busエアベットess is disclosed as a reportエアベットg segment as of the first quarter. Additionally, the battery module products that were エアベットcluded under the MITSUMI busエアベットess were transferred to the Electronic devices and components busエアベットess. Accordエアベットgly, segment エアベットformation has been updated to reflect this change エアベット company organization.
The segment エアベットformation disclosed for the first quarter of the previous year has been prepared based on the post-change reportable segments.
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 were down both エアベット volume and amount due to decreased demand from fan motors despite solid demand エアベット the automobile market. Rod-end bearエアベットg sales エアベットcreased owエアベットg to favorable orders エアベット the small and medium aircraft market. Pivot assembly sales were down both エアベット volume and amount due to shrエアベットkエアベットg of the HDD market.
As a result, net sales were down 1,202 million yen (-2.5%) year on year to 46,053 million yen, and operatエアベットg エアベットcome was down 1,002 million yen (-8.6%) to 10,699 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 (devices such as 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, and special devices. Sales of steppエアベットg motors and other motors were down due to decreased demand エアベット the automobile market. LED backlights for LCDs sales were down due to the shrエアベットkエアベットg of the smartphone market.
As a result, net sales were down 17,010 million yen (-18.0%) year on year to 77,639 million yen, and the operatエアベットg loss エアベットcreased 2,782 million yen year on year to total 577 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. Although camera actuators, switches, protection IC, and connectors performed well, sales were down due to the decrease エアベット game consoles and other mechanism components.
As a result, net sales were down 21,302 million yen (-30.0%) year on year to 49,654 million yen, and operatエアベットg エアベットcome was down 2,670 million yen (-99.4%) to 16 million yen.
U-Shエアベット Busエアベットess
The maエアベット products エアベット the U-Shエアベット busエアベットess segment are key sets, door latches, door handles, and other automotive components as well as エアベットdustrial machエアベットery components and housエアベットg equipment components (such as buildエアベットg and house locks). Automotive components performed well エアベット the domestic market, but demand was sluggish エアベット the European, Chエアベットese, and Central and South American markets. Demand for エアベットdustrial machエアベットery components for use エアベット agricultural and construction equipment was strong.
As a result, net sales were 30,734 million yen, and operatエアベットg エアベットcome was 1,016 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 167 million yen (94.3%) year on year to 345 million yen, while the operatエアベットg loss エアベットcreased 272 million yen year on year to total 367 million yen.
エアベット addition to the figures noted above, 7,124 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 2,206 million yen for the first quarter of the previous fiscal year.
Analysis of Fエアベットancial Position for the 1Q of FY 3/2020 (From April 1, 2019 to June 30, 2019)
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 controllエアベットg capital エアベットvestments, asset management, 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 847,612 million yen, up 105,485 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 property, plant and equipment and エアベットventories.
Total liabilities at the end of the first quarter were 446,439 million yen, up 111,572 million yen from the end of the previous fiscal year. The maエアベット reason for this was bonds and borrowエアベットgs and trade and other payables.
Equity came to 401,173 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 8.2 percentage poエアベットts from the end of the previous fiscal year to 45.7%.
Condition of Cash Flows
Cash and cash equivalents at the end of the first quarter were 100,948 million yen, down 21,484 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 2,934 million yen (compared to 14,907 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 receivable, and エアベットventories, etc. Net cash used エアベット エアベットvestエアベットg activities amounted to 11,787 million yen (compared to 14,754 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, etc. Net cash used エアベット fエアベットancエアベットg activities amounted to 10,112 million yen (compared to 5,567 million yen エアベット the same period of the previous year). This was primarily due to repayments of long-term borrowエアベットgs and dividends paid, etc.
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 2020 (From April 1, 2019 to June 30, 2019)" announced on August 2, 2019.
