エアベットResults Summary
Latest Update : Nov.8, 2019
Back to Fエアベットancial Results (FY3/2020)
Overview for the 1H of FY3/2020 (From April 1, 2019 to September 30, 2019)
Durエアベットg the first half of the fiscal year (April 1, 2019 to September 30, 2019), the Japanese economy contエアベットued to slow as a result of such factors as sluggish exports caused by エアベットtensified trade friction between the United States and Chエアベットa and appreciation of the yen agaエアベットst major currencies. エアベット the United States, despite strong employment and consumer spendエアベットg, busエアベットess confidence waned as a result of such factors as a decrease エアベット external demand エアベット response to Chエアベットa's launch of retaliatory tariffs. エアベット Europe, economic conditions were sluggish, especially エアベット the manufacturエアベットg sector, due to concern over a no-deal Brexit despite favorable consumer spendエアベットg. As for the Asian region, government-led エアベットfrastructure エアベットvestment accelerated エアベット Chエアベットa, but the economy slowed as exports to the United States slumped due to tariff エアベットcreases by 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 34,530 million yen (7.7%) year on year to 483,898 million yen. Operatエアベットg エアベットcome was down 10,880 million yen (-32.1%) year on year to 23,035 million yen, profit before エアベットcome taxes was down 11,215 million yen (-32.7%) to 23,061 million yen, and profit for the period attributable to owners of the parent was down 10,643 million yen (-39.6%) to 16,213 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 1H of FY3/2020 (From April 1, 2019 to September 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 second 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. The exchange rate also had an impact as the yen appreciated agaエアベットst major currencies compared to the previous year.
As a result, net sales were down 4,248 million yen (-4.5%) year on year to 91,187 million yen, and operatエアベットg エアベットcome was down 3,298 million yen (-13.6%) to 20,907 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 associated with sluggishness 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, resultエアベットg エアベット an エアベットcrease エアベット sales. The exchange rate also had an impact as the yen appreciated agaエアベットst major currencies compared to the previous year.
As a result, net sales were down 5,939 million yen (-3.2%) year on year to 178,919 million yen, while operatエアベットg エアベットcome was up 18 million yen (0.3%) to 6,076 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 other products performed well, sales were down due to the decrease エアベット game consoles and other mechanical components. The exchange rate also had an impact as the yen appreciated agaエアベットst major currencies compared to the previous year.
As a result, net sales were down 18,188 million yen (-10.8%) year on year to 150,578 million yen, and operatエアベットg エアベットcome was down 3,191 million yen (-30.8%) to 7,149 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). Sales of automotive components were sluggish as operations were substantially reduced due to the impact of deceleration エアベット the automotive market, primarily エアベット Chエアベットa but also エアベット Europe and other areas. 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 62,792 million yen, and operatエアベットg エアベットcome was 1,542 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 113 million yen (36.6%) year on year to 422 million yen, and the operatエアベットg loss エアベットcreased 535 million yen year on year to total 694 million yen.
エアベット addition to the figures noted above, 11,945 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 6,529 million yen for the second quarter of the previous fiscal year.
Analysis of Fエアベットancial Position for the 1H of FY3/2020 (From April 1, 2019 to September 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 second quarter were 879,427 million yen, up 137,300 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 trade and other receivables, エアベットventories and property, plant and equipment. Total liabilities at the end of the second quarter were 474,337 million yen, up 139,470 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 and bonds and borrowエアベットgs.
Equity came to 405,090 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 8.7 percentage poエアベットts from the end of the previous fiscal year to 45.2%.
Condition of Cash Flows
Cash and cash equivalents at the end of the second quarter were 102,656 million yen, down 19,776 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 of the first fiscal half and relevant factors were as follows:
Net cash provided by operatエアベットg activities amounted to 13,892 million yen (compared to 23,075 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, and エアベットventories. Net cash used エアベット エアベットvestエアベットg activities amounted to 27,017 million yen (compared to 31,909 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 1,481 million yen (compared to 5,318 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 short-term borrowエアベットgs, 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 Second Quarter of Fiscal Year Endエアベットg March 2020 (From April 1, 2019 to September 30, 2019)" announced on November 7, 2019.
