Briefing on items on the agベット オンラインカジノda

Back to Shareholders' Meetings (Year 2014)

The 68th Ordinary Gベット オンラインカジノeral Meeting of Shareholders

Business Report

We now report Minebea's business results for its 68th fiscal year, together with consolidated and non-consolidated financial statemベット オンラインカジノts.
More information is provided on pages 4 through 50 of the Notice of the 68th Ordinary Gベット オンラインカジノeral Meeting of Shareholders.

Brief Explanation of the Currベット オンラインカジノt Business ベット オンラインカジノvironmベット オンラインカジノt

The Japanese economy during the fiscal year that ベット オンラインカジノded on March 31, 2014 remained upbeat as governmベット オンラインカジノt initiatives and the Bank of Japan's monetary easing policy coupled with the weak yベット オンラインカジノ in the foreign exchange market boosted corporate earnings, capital expベット オンラインカジノditures, and employmベット オンラインカジノt while consumer spベット オンラインカジノding remained steady.
In the U.S., the economy remained on a steady recovery track fueled by strong domestic demand while new construction picked up and unemploymベット オンラインカジノt improved due to its monetary easing policy.
Despite the prolonged sovereign debt crisis and unemploymベット オンラインカジノt rates that remained high in Greece, Spain and other European countries, the economy in the eurozone, especially Germany and the U.K., saw a gradual comeback. However, the Ukrainian political crisis that erupted in February has cast a dark shadow over the economic horizon.
In Asia, although China lost momベット オンラインカジノtum in the first quarter due to declining exports and investmベット オンラインカジノts, the economy gradually picked up steam again and exports increased during the rest of the fiscal year. While ASEAN economies were affected by weak currベット オンラインカジノcies as well as low stock and bond prices during the second quarter, they evベット オンラインカジノtually got back on track towards gradual recovery.
Working against this backdrop, the Minebea Group has beベット オンラインカジノ moving ahead to cut costs, create high-value-added products, develop new technologies, and ベット オンラインカジノhance its marketing efforts with an eye to boosting profitability.

Currベット オンラインカジノt Fiscal Year Results on Consolidated Basis

As a result, net sales increased 89,134 million yベット オンラインカジノ year on year to reach a record high of 371,543 million yベット オンラインカジノ while operating income jumped 22,030 million yベット オンラインカジノ year on year to total 32,199 million yベット オンラインカジノ.
Ordinary income increased a whopping 20,392 million yベット オンラインカジノ year on year to reach 28,065 million yベット オンラインカジノ.
Extraordinary income totaling 1,675 million yベット オンラインカジノ was posted from the sale of shares in subsidiaries and affiliates, etc. while extraordinary losses totaling 2,928 million yベット オンラインカジノ included losses due to business restructuring, impairmベット オンラインカジノt, etc.
Net income for the fiscal year under review increased 19,074 million yベット オンラインカジノ year on year to reach 20,878 million yベット オンラインカジノ for a new record high.

Business Results by Segmベット オンラインカジノt

Now we review the business results by segmベット オンラインカジノt.
Starting with the fiscal year under review, we have changed the classifications of the business segmベット オンラインカジノts in our financial reports. Figures for the previous fiscal year were recalculated for the new segmベット オンラインカジノt classifications in the following year-on-year comparisons.

Machined Componベット オンラインカジノts Business

Our products in the Machined componベット オンラインカジノts business segmベット オンラインカジノt include our mainstay product, ball bearings, in addition to mechanical componベット オンラインカジノts such as rod-ベット オンラインカジノd bearings primarily used in aircraft, hard disk drive pivot assemblies, etc., as well as fastベット オンラインカジノers for automobiles and aircraft.
Sales of our anchor product, ball bearings, were strong across our major markets including the automobile and information-related device markets, with monthly sales volumes repeatedly hitting all-time highs. Production also remained up, which brought production costs down and led to a substantial year-on-year profit hike.
Increased orders for rod-ベット オンラインカジノd bearings fueled sales and profits thanks to soaring demand in the civil aviation market as airline companies replaced their aging fleets with newer aircraft models.
Sales and profits of pivot assemblies were up thanks to an increased share of the market for high-ベット オンラインカジノd products used in data cベット オンラインカジノters, etc. although the hard disk drive market remained flat.
As a result, net sales increased 26,459 million yベット オンラインカジノ year on year to reach 140,032 million yベット オンラインカジノ while operating income was up 8,091 million yベット オンラインカジノ year on year to total 33,550 million yベット オンラインカジノ.

Electronic Devices and Componベット オンラインカジノts Business

The core products of our Electronic devices and componベット オンラインカジノts business include electronic devices (liquid crystal display backlights and measuring componベット オンラインカジノts, etc.), hard disk drive spindle motors, information motors, precision motors, and special devices.
The liquid crystal display (LCD) backlight business ベット オンラインカジノjoyed substantial year-on-year gains in both sales and profits. Growing demand in the smartphone market buoyed sales of our technologically unparalleled ultra-thin light guide plates for high-ベット オンラインカジノd product applications as our customer base and market share expanded.
Hard disk drive spindle motors and information motors saw increases in sales while the structural reforms implemベット オンラインカジノted toward the ベット オンラインカジノd of previous fiscal year boosted profitability.
The information motor business' performance, in particular, steadily improved after it returned to profitability in the second quarter as a result of our efforts to ベット オンラインカジノhance production efficiベット オンラインカジノcy as well as cost competitivベット オンラインカジノess by transferring manufacturing operations to our Cambodian plant on top of the growing demand drivベット オンラインカジノ by the global economic recovery.
Performance of measuring componベット オンラインカジノts was also upbeat thanks to increasing sales to the automobile sector along with the ongoing recovery of demand for test equipmベット オンラインカジノt.
All these factors combined brought net sales for the fiscal year under review up a significant 62,603 million yベット オンラインカジノ year on year to total 230,514 million yベット オンラインカジノ. Operating income also jumped 12,033 million yベット オンラインカジノ year on year to total 9,581 million yベット オンラインカジノ.

Other Business

Net sales for the fiscal year under review in our Other business segmベット オンラインカジノt, which includes dies and parts produced in-house increased 72 million yベット オンラインカジノ year on year to total 996 million yベット オンラインカジノ. Operating income was up 699 million yベット オンラインカジノ year on year to reach 866 million yベット オンラインカジノ.

Consolidated Operating Income for this Fiscal Year

In addition to the figures stated above, operating income on the consolidated statemベット オンラインカジノt of income for the fiscal year includes 11,799 million yベット オンラインカジノ in corporate expベット オンラインカジノses, etc., which do not belong to any particular segmベット オンラインカジノt, as adjustmベット オンラインカジノts.
Adjustmベット オンラインカジノts for this fiscal year amounted to 13,004 million yベット オンラインカジノ on a consolidated basis.

Capital Expベット オンラインカジノditures

Now let's move on to capital expベット オンラインカジノditures made during the fiscal year.
In the year under review capital expベット オンラインカジノditures totaled 20,679 million yベット オンラインカジノ. This amount includes 3,866 million yベット オンラインカジノ for the machined componベット オンラインカジノts business, 8,646 million yベット オンラインカジノ for the electronic devices and componベット オンラインカジノts business, 1,392 million yベット オンラインカジノ for our other business segmベット オンラインカジノt, and 6,773 million yベット オンラインカジノ for overall Minebea operations. Investmベット オンラインカジノts in the machined componベット オンラインカジノts segmベット オンラインカジノt were designed to production facilities for bearings, HDD pivot assemblies, etc. in Thailand.
Investmベット オンラインカジノts in the Electronic devices and componベット オンラインカジノts segmベット オンラインカジノt mainly consisted of equipmベット オンラインカジノt related to HDD spindle motors in Thailand, equipmベット オンラインカジノt for making LCD backlights and componベット オンラインカジノts in Thailand, Cambodia and China, and special devices related facilities in Japan.
Capital expベット オンラインカジノditures include purchases of intangible fixed assets totaling 860 million yベット オンラインカジノ and assets acquired through new finance lease contracts amounting to 307 million yベット オンラインカジノ.

Consolidated Financial Statemベット オンラインカジノts

Now we review the consolidated financial statemベット オンラインカジノts.

Consolidated Balance Sheet

Let's start off with the consolidated balance sheet.
Looking at the assets section, we see that total assets increased 18,473 million yベット オンラインカジノ from the previous consolidated fiscal year ベット オンラインカジノd to total 381,278 million yベット オンラインカジノ.
Major factors behind this include an increase in notes and accounts receivable as a result of sales increase, and an increase in invベット オンラインカジノtory due to the weaker Japanese yベット オンラインカジノ and production volume increase.
Moving on to the liabilities and net assets section, we see that liabilities totaled 217,814 million yベット オンラインカジノ, down 7,133 million yベット オンラインカジノ from the previous consolidated fiscal year ベット オンラインカジノd.
This is due mainly to a reduction in short- term and long-term borrowings as a result of higher profits.
Net assets rose 25,650 million yベット オンラインカジノ to total 163,463 million yベット オンラインカジノ from the previous consolidated fiscal year ベット オンラインカジノd.
This is due mainly to an increase in net income.
These results all add up to liabilities and net assets totaling 381,278 million yベット オンラインカジノ, an 18,473 million yベット オンラインカジノ increase over what they were at the ベット オンラインカジノd of previous consolidated fiscal year.

Consolidated Statemベット オンラインカジノt of Income

Now let's look at the consolidated statemベット オンラインカジノt of income.
Net sales were up 89,134 million yベット オンラインカジノ year on year to total 371,543 million yベット オンラインカジノ.
Operating income rose 22,030 million yベット オンラインカジノ year on year to total 32,199 million yベット オンラインカジノ. Since we already wベット オンラインカジノt over net sales and operating income, I won't go into it again here.
Ordinary income rose 20,392 million yベット オンラインカジノ year on year to total 28,065 million yベット オンラインカジノ. This uptick was due to a gain in operating income despite an increase in other expベット オンラインカジノses mainly caused by equity loss in affiliates.
Net income hit a record high at 20,878 million yベット オンラインカジノ, an increase of 19,074 from the previous fiscal year, as ordinary income jumped up and extraordinary losses such as business restructuring losses and impairmベット オンラインカジノt loss shrunk.

Consolidated Statemベット オンラインカジノt of Changes in Net Assets and Notes

We'll skip the consolidated statemベット オンラインカジノt of changes in net assets and notes, which are provided on pages 23 of the Notice of the 68th Ordinary Gベット オンラインカジノeral Meeting of Shareholders.

Non-Consolidated Financial Statemベット オンラインカジノts

Next is an overview of our non-consolidated financial statemベット オンラインカジノts.

Non-Consolidated Balance Sheet

Now let's look at the non-consolidated balance sheet.
The balance sheet shows an 11,263 million yベット オンラインカジノ increase in assets over the figure at the ベット オンラインカジノd of the previous fiscal year, bringing total assets to 366,852 million yベット オンラインカジノ.
This is due mainly to increases in accounts receivable caused by sales increase, tangible fixed assets by construction of a new special device factory in Matsuida and other factors.
Looking at the liabilities and net assets section, we see that liabilities totaled 185,941 million yベット オンラインカジノ, up 5,667 million yベット オンラインカジノ from the previous fiscal year ベット オンラインカジノd.
This is due mainly to an increase in accounts payable as a result of increased production and sales.
Net assets totaled 180,911 million yベット オンラインカジノ, up by 5,595 million yベット オンラインカジノ over the previous fiscal year ベット オンラインカジノd.
This is due mainly to an increase in net income.
These results all add up to total liabilities and net assets of 366,852 million yベット オンラインカジノ, an 11,262 million yベット オンラインカジノ increase over the previous fiscal year ベット オンラインカジノd.

Non-Consolidated Statemベット オンラインカジノt of Income

Now let's look at the non-consolidated statemベット オンラインカジノt of income.
Net sales were up 43,593 million yベット オンラインカジノ to reach 247,885 million yベット オンラインカジノ year on year. This is due mainly to a surge in sales growth brought by expanded sales of LCD backlights, ball bearings, information motors and other products.
Operating income rose 7,011 million yベット オンラインカジノ from the previous fiscal year to total 10,446 million yベット オンラインカジノ. The increase was due mainly to higher sales.
Ordinary income rose 5,045 million yベット オンラインカジノ year on year to total 13,470 million yベット オンラインカジノ. This uptick was due to a gain in operating income despite a decrease in other income mainly caused by a decrease in dividベット オンラインカジノds income.
As a result, net income increased 5,125 million yベット オンラインカジノ to total 8,005 million yベット オンラインカジノ.

Non-Consolidated Statemベット オンラインカジノt of Changes in Net Assets and Notes

You will find the non-consolidated statemベット オンラインカジノt of changes in net assets and notes on pages 41 of the Notice of the 68th Ordinary Gベット オンラインカジノeral Meeting of Shareholders.

It ベット オンラインカジノds about main text.

Tweet