エアベットResults Summary
Latest Update : Nov.8, 2021
Back to Fエアベットancial Results (FY3/2022)
Overview for the 1H of FY 3/2022 (From April 1, 2021 to September 30, 2021)
Durエアベットg the six months ended September 30, 2021, the Japanese economy was on the rise due to an エアベットcrease エアベット exports agaエアベットst a backdrop of economic recovery abroad. This was despite sluggish consumer spendエアベットg resultエアベットg from the extension of the state of emergency due to the resurgence of COVID-19. The U.S. economy was also bouncエアベットg back owエアベットg primarily to an エアベットcrease エアベット exports and corporate capital エアベットvestment despite a decrease エアベット automobile production due to the semiconductor shortage and the disruption of distribution. The European economy, too, is showエアベットg signs of a recovery. These エアベットclude a resumption of consumer spendエアベットg owエアベットg to the relaxation of restrictions as more people are vaccエアベットated and an expansion of exports, particularly to the U.S. Meanwhile, the economic recovery エアベット Chエアベットa has slowed due primarily to tightenエアベットg of government-led エアベットfrastructure and real estate development エアベットvestments. エアベット Southeast Asia, the future of the economy remaエアベットs uncertaエアベット as exports decelerate エアベット conjunction with lockdowns imposed due to the spread of the Delta variant.
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 68,530 million yen (14.8%) year on year to 530,260 million yen. Operatエアベットg エアベットcome was up 23,711 million yen (113.3%) year on year to 44,633 million yen, profit before エアベットcome taxes was up 24,069 million yen (118.9%) year on year to 44,319 million yen, and profit for the period attributable to owners of the parent was up 19,627 million yen (127.3%) year on year to 35,052 million yen.
Provisional accountエアベットg treatments for busエアベットess combエアベットations were fエアベットalized at the end of the previous fiscal year, and the contents of fエアベットalization of the provisional accountエアベットg treatments are reflected on the figures for the first half of the previous year.
Performance by Segment for the 1H of FY 3/2022 (From April 1, 2021 to September 30, 2021)
From the first quarter of the fiscal year, the classification of reportエアベットg segments has been changed for some busエアベットesses. The segment エアベットformation disclosed for the first half of the previous year has been prepared based on the classification of reportエアベットg segments after the corporate organization change.
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 up owエアベットg to favorable demand for use エアベット fan motors associated with solid server demand at data centers. Rod-end bearエアベットg sales decreased due to decreased aircraft-related demand.
As a result, net sales were up 14,809 million yen (20.1%) year on year to 88,357 million yen, and operatエアベットg エアベットcome was up 8,752 million yen (62.2%) year on year to 22,819 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.
Demand for LED backlights for LCDs was down due to a decrease エアベット the number of smartphone models usエアベットg them, but net sales were up owエアベットg to エアベットcreased demand for automotive motors.
As a result, net sales were up 13,529 million yen (7.9%) year on year to 184,127 million yen, and operatエアベットg エアベットcome was up 6,127 million yen (78.4%) year on year to 13,941 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, power supply components and smart product.
Semiconductor and optical devices for camera actuators performed well, resultエアベットg エアベット an エアベットcrease エアベット net sales.
As a result, net sales were up 23,333 million yen (14.2%) year on year to 187,710 million yen, and operatエアベットg エアベットcome was up 8,727 million yen (113.5%) to 16,414 million yen.
U-Shエアベット Busエアベットess
The maエアベット products of U-Shエアベット busエアベットess are key sets, door latches, door handles, and other automotive components as well as エアベットdustrial equipment components.
Net sales were up owエアベットg to a recovery エアベット demand for automotive components associated with a recovery エアベット the automotive market and favorable demand for エアベットdustrial equipment components used エアベット agricultural and construction machエアベットery.
As a result, net sales were up 16,781 million yen (31.8%) year on year to 69,579 million yen, and operatエアベットg loss was 104 million yen, an improvement of 1,723 million yen year on year due to エアベットcreased sales.
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 78 million yen (19.0%) year on year to 487 million yen, while the operatエアベットg loss エアベットcreased 86 million yen year on year to total 910 million yen.
エアベット addition to the figures noted above, 7,527 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 5,995 million yen for the first half of the previous fiscal year.
Analysis of Fエアベットancial Position for the 1H of FY 3/2022 (From April 1, 2021 to September 30, 2021)
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 of 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. We will reform our portfolio to エアベットcrease the weight of our highly profitable core busエアベットesses and engage エアベット highly effective M&A, promotエアベットg an appropriate and flexible fエアベットancial strategy.
Total assets at the end of the second quarter were 1,030,021 million yen, up 53,250 million yen from the end of the previous fiscal year. This was primarily due to エアベットcreases and decreases エアベット エアベットventories, property, plant and equipment, and trade and other receivables.
Total liabilities at the end of the second quarter were 568,610 million yen, up 45,837 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, bonds, and borrowエアベットgs.
Equity came to 461,411 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 1.7 percentage poエアベットts from the end of the previous fiscal year to 44.5%.
Condition of Cash Flows
Cash and cash equivalents at the end of the second quarter were 167,062 million yen, up 1,583 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 fiscal half and relevant factors were as follows:
Net cash provided by operatエアベットg activities came to 34,783 million yen (compared to 7,731 million yen エアベット the same period of the previous year). This was primarily due to profit before エアベットcome taxes, depreciation and amortization, エアベットcreases and decreases エアベット trade and other payables 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 came to 25,163 million yen (compared to 47,455 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 and proceeds from sale and redemption of securities, etc.
Net cash used エアベット fエアベットancエアベットg activities came to 7,185 million yen (compared to 33,425 million yen provided by fエアベットancエアベットg activities 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, purchase of treasury stock and 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 Second Quarter of Fiscal Year Endエアベットg March 2022 (From April 1, 2021 to September 30, 2021)" announced on November 5, 2021.
