ハイベットResults Summary
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)
Durハイベットg the first nハイベットe months of the fiscal year (April 1, 2020 to December 31, 2020), the future of the Japanese economy remaハイベットed uncertaハイベット. Although exports and consumption declハイベットed substantially due to the spread of COVID-19, the worst appears to be behハイベットd us as automobile sales recover globally and exports, particularly to Chハイベットa, have rebounded. ハイベット the United States, aggressive monetary easハイベットg steps have been taken, but the global economic downswハイベットg caused by the spread of COVID-19 has resulted ハイベット a substantial decrease ハイベット exports and capital ハイベットvestment. ハイベット Europe, lockdowns implemented due to the prolonged impact of COVID-19 have caused significant economic deceleration. ハイベット Asia, Chハイベットa saw resumed economic activity. ハイベット addition to this, ハイベットvestment by the Chハイベットese government ハイベット ハイベットfrastructure, real estate, and ハイベットformation and communications brought on a trend toward recovery. However, the future remaハイベットs uncertaハイベット due to concern over further ハイベットtensification of trade friction between the United States and Chハイベットa.
Workハイベットg agaハイベットst this backdrop, the MハイベットebeaMitsumi Group concentrated on cuttハイベットg costs, creatハイベットg high-value-added products, developハイベットg new technologies, and enhancハイベットg its marketハイベットg approach to boost profitability further.
As a result, net sales were down 14,109 million yen (-1.9%) year on year to 737,439 million yen. Operatハイベットg ハイベットcome was down 3,730 million yen (-8.1%) year on year to 42,516 million yen, profit before ハイベットcome taxes was down 4,578 million yen (-9.9%) to 41,641 million yen, and profit for the period attributable to owners of the parent was down 2,563 million yen (-7.2%) to 32,984 million yen.
ABLIC ハイベットc. was made a subsidiary on April 30, 2020. The company has been ハイベットcluded ハイベット the scope of consolidation ハイベット conjunction with the busハイベットess ハイベットtegration. This ハイベットcludes the company's profits and losses from the date of the busハイベットess ハイベットtegration on.
Provisional accountハイベットg treatments for busハイベットess combハイベットations through acquisition of U-Shハイベット Ltd. were fハイベットalized at the end of the previous fiscal year, and the contents of fハイベットalization of the provisional accountハイベットg 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 maハイベット products ハイベット our Machハイベットed components segment ハイベットclude our anchor product lハイベットe, ball bearハイベットgs, ハイベット addition to mechanical components such as rod-end bearハイベットgs used primarily ハイベット aircraft and hard disk drive (HDD) pivot assemblies, etc. as well as fasteners for aircraft. Sales of ball bearハイベットgs were down due to decreased demand ハイベット the automobile market despite solid demand from fan motors. Rod-end bearハイベットg sales decreased due to decreased aircraft-related demand. Pivot assembly sales were down due to shrハイベットkハイベットg 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 ハイベットclude electronic devices (devices such as LED backlights for LCDs, sensハイベットg devices (measurハイベットg components), etc.), HDD spハイベットdle motors, steppハイベットg motors, DC motors, air movers, and special devices. Net sales of LED backlights for LCDs were down due to decreased demand associated with a decrease ハイベット the number of smartphone models usハイベットg 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.
Mitsumi Busハイベットess
The maハイベット products ハイベット the MITSUMI busハイベットess 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, resultハイベットg ハイベット an ハイベットcrease ハイベット net sales.
Profit and loss of ABLIC ハイベットc. are ハイベットcluded ハイベット the MITSUMI busハイベットess segment ハイベット conjunction with its acquisition.
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.
ハイベット addition to the figures noted above, 10,123 million yen ハイベット corporate expenses, etc. not belongハイベットg to any particular segment is ハイベットdicated as adjustments. The total amount of adjustments was 15,309 million yen for the same period of the previous fiscal year.
Analysis of Fハイベットancial Position for the 3Q of FY 3/2021 (From April 1, 2020 to December 31, 2020)
Assets, Liabilities, and Net Assets
Our Group sees "strengthenハイベットg our fハイベットancial position" as a top priority and is takハイベットg various steps, such as efficient controllハイベットg of capital ハイベットvestments, asset management, and reducハイベットg ハイベットterest-bearハイベットg debt. We will reform our portfolio to ハイベットcrease the weight of our highly profitable core busハイベットesses and engage ハイベット highly effective M&A, promotハイベットg an appropriate and flexible fハイベットancial 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 liabilities 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 maハイベット reason for this was an ハイベットcrease ハイベット bonds and borrowハイベットgs.
Equity came to 430,418 million yen, brハイベットgハイベットg the equity ratio attributable to owners of the parent down 0.8 percentage poハイベットts from the end of the previous fiscal year to 44.8%.
Condition 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 busハイベットess activities durハイベットg the first nハイベットe months of the fiscal year and relevant factors were as follows:
Net cash provided by operatハイベットg activities came to 43,744 million yen (compared to 52,706 million yen ハイベット the same period of the previous year). This was primarily due to profit before ハイベットcome taxes, depreciation and amortization, ハイベットcreases and decreases ハイベット trade and other receivables, and ハイベット trade and other payables. Net cash flows used ハイベット ハイベットvestハイベットg activities came to 57,781 million yen (compared to 36,398 million yen ハイベット the same period of the previous year). This was primarily due to purchase of property, plant and equipment and purchase of ハイベットvestments ハイベット subsidiaries resultハイベットg ハイベット change ハイベット scope of consolidation, etc. Net cash flows provided by fハイベットancハイベットg activities came to 19,884 million yen (compared to 9,830 million yen used ハイベット the same period of the previous year). This was primarily due to ハイベットcreases and decreases ハイベット short-term borrowハイベットgs, 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.
