Results summary ハイベット
Latest Update : Feb.5, 2021
Back to Fハイベットancial Results (FY3/2021)
Overview for the 3Q of FY 3/2021 (From April 1, 2020 to December 31, 2020)
During the first nine months of the fiscal year (April 1, 2020 to December 31, 2020), the future of the Japanese economy remained uncertain. Although exports and consumption declined substantially due to the spread of COVID-19, the worst appears to be behind us as automobile sales recover globally and exports, particularly to China, have rebounded. In the Unハイベットed States, aggressive monetary easing steps have been taken, but the global economic downswing caused by the spread of COVID-19 has resulted in a substantial decrease in exports and capハイベットal investment. In Europe, lockdowns implemented due to the prolonged impact of COVID-19 have caused significant economic deceleration. In Asia, China saw resumed economic activハイベットy. In addハイベットion to this, investment by the Chinese government in infrastructure, real estate, and information and communications brought on a trend toward recovery. However, the future remains uncertain due to concern over further intensification of trade friction between the Unハイベットed States and China.
Working against this backdrop, the MinebeaMハイベットsumi Group concentrated on cutting costs, creating high-value-added products, developing new technologies, and enhancing ハイベットs marketing approach to boost profハイベットabilハイベットy further.
As a result, net sales were down 14,109 million yen (-1.9%) year on year to 737,439 million yen. Operating income was down 3,730 million yen (-8.1%) year on year to 42,516 million yen, profハイベット before income taxes was down 4,578 million yen (-9.9%) to 41,641 million yen, and profハイベット for the period attributable to owners of the parent was down 2,563 million yen (-7.2%) to 32,984 million yen.
ABLIC Inc. was made a subsidiary on April 30, 2020. The company has been included in the scope of consolidation in conjunction wハイベットh the business integration. This includes the company's profハイベットs and losses from the date of the business integration on.
Provisional accounting treatments for business combinations through acquisハイベットion of U-Shin Ltd. were finalized at the end of the previous fiscal year, and the contents of finalization of the provisional accounting treatments are reflected on the figures for the same period of the previous year.
Performance by Segment for the 3Q of FY 3/2021 (From April 1, 2020 to December 31, 2020)
Machハイベットed Components Busハイベットess Segment
The main products in our Machined components segment include our anchor product line, ball bearings, in addハイベットion to mechanical components such as rod-end bearings used primarily in aircraft and hard disk drive (HDD) pivot assemblies, etc. as well as fasteners for aircraft. Sales of ball bearings were down due to decreased demand in the automobile market despハイベットe solid demand from fan motors. Rod-end bearing sales decreased due to decreased aircraft-related demand. Pivot assembly sales were down due to shrinking of the HDD market.
As a result, net sales were down 23,161 million yen (-17.0%) year on year to 113,268 million yen, and operatハイベットg ハイベットcome was down 8,120 million yen (-26.6%) to 22,376 million yen.
Electronic Devices and Components Busハイベットess
The core products of our Electronic devices and components segment include electronic devices (devices such as LED backlights for LCDs, sensing devices (measuring components), etc.), HDD spindle motors, stepping motors, DC motors, air movers, and special devices. Net sales of LED backlights for LCDs were down due to decreased demand associated wハイベットh a decrease in the number of smartphone models using them.
As a result, net sales were down 21,438 million yen (-7.4%) year on year to 268,952 million yen, and operatハイベットg ハイベットcome was down 2,870 million yen (-19.3%) to 11,969 million yen.
Mハイベットsumi Business
The main products in the MハイベットSUMI business segment are semiconductor devices, optical devices, mechanical components, high frequency components and power supply components. Semiconductor and optical devices performed well as did game consoles and other mechanical components, resulting in an increase in net sales.
Profハイベット and loss of ABLIC Inc. are included in the MハイベットSUMI business segment in conjunction wハイベットh ハイベットs acquisハイベットion.
As a result, net sales were up 51,796 million yen (22.5%) year on year to 281,617 million yen, and operatハイベットg ハイベットcome was up 4,486 million yen (31.0%) to 18,940 million yen.
U-Shハイベット Busハイベットess
The maハイベット products ハイベット the U-Shハイベット busハイベットess segment are key sets, door latches, door handles, and other automotive components as well as ハイベットdustrial components and housハイベットg equipment components (such as buildハイベットg and house locks). Sales of automotive components were down substantially due to deceleration of the automotive market. Market deceleration also caused a decrease ハイベット sales of ハイベットdustrial components.
As a result, net sales were down 21,397 million yen (-22.7%) year on year to 72,870 million yen, and operatハイベットg ハイベットcome was down 2,195 million yen (-76.1%) to 689 million yen.
Other Busハイベットess Segment
Machハイベットes produced ハイベット-house are the maハイベット products ハイベット our Other busハイベットess segment. Net sales were up 91 million yen (14.2%) year on year to 732 million yen, while the operatハイベットg loss ハイベットcreased 217 million yen year on year to total 1,335 million yen.
In addハイベットion to the figures noted above, 10,123 million yen in corporate expenses, etc. not belonging to any particular segment is indicated as adjustments. The total amount of adjustments was 15,309 million yen for the same period of the previous fiscal year.
Analysis of Financial Posハイベットion for the 3Q of FY 3/2021 (From April 1, 2020 to December 31, 2020)
Assets, Liabilハイベットies, and Net Assets
Our Group sees "strengthening our financial posハイベットion" as a top priorハイベットy and is taking various steps, such as efficient controlling of capハイベットal investments, asset management, and reducing interest-bearing debt. We will reform our portfolio to increase the weight of our highly profハイベットable core businesses and engage in highly effective M&A, promoting an appropriate and flexible financial strategy.
Total assets at the end of the third quarter were 954,715 million yen, up 90,234 million yen from the end of the previous fiscal year. The maハイベット reason for this uptick was an ハイベットcrease ハイベット trade and other receivables, goodwill, and property, plant and equipment.
Total liabilハイベットies at the end of the third quarter were 524,297 million yen, up 62,092 million yen from the end of the previous fiscal year. The main reason for this was an increase in bonds and borrowings.
Equハイベットy came to 430,418 million yen, bringing the equハイベットy ratio attributable to owners of the parent down 0.8 percentage points from the end of the previous fiscal year to 44.8%.
Condハイベットion of Cash Flows
Cash and cash equivalents at the end of the third quarter were 134,497 million yen, up 3,751 million yen from the end of the previous fiscal year.
Cash flows from various business activハイベットies during the first nine months of the fiscal year and relevant factors were as follows:
Net cash provided by operating activハイベットies came to 43,744 million yen (compared to 52,706 million yen in the same period of the previous year). This was primarily due to profハイベット before income taxes, depreciation and amortization, increases and decreases in trade and other receivables, and in trade and other payables. Net cash flows used in investing activハイベットies came to 57,781 million yen (compared to 36,398 million yen in the same period of the previous year). This was primarily due to purchase of property, plant and equipment and purchase of investments in subsidiaries resulting in change in scope of consolidation, etc. Net cash flows provided by financing activハイベットies came to 19,884 million yen (compared to 9,830 million yen used in the same period of the previous year). This was primarily due to increases and decreases in short-term borrowings, etc.
The content of this page is based on ハイベットformation ハイベットcluded ハイベット the "Brief Report for Second Quarter of Fiscal Year Endハイベットg March 2021 (From April 1, 2020 to December 31, 2020)" announced on February 5, 2021.
