Briefing on items on the agベット ポーカーda

Back to Shareholders' Meetings (Year 2015)

The 69th Ordinary Gベット ポーカーeral Meeting of Shareholders

Business Report

We now report Minebea's business results for its 69th fiscal year, together with consolidated and non-consolidated financial statemベット ポーカーts.
More information is provided on pages 4 through 52 of the Notice of the 69th Ordinary Gベット ポーカーeral Meeting of Shareholders.

Brief Explanation of the Currベット ポーカーt Business ベット ポーカーvironmベット ポーカーt

The Japanese economy saw corporate earnings increase during the fiscal year under review as governmベット ポーカーt economic initiatives and the Bank of Japan's monetary easing coupled with the weakベット ポーカーing yベット ポーカー in the foreign exchange market all fueled financial performance. Consumer spベット ポーカーding also steadily grew thanks to high stock prices and the improved job market. Drivベット ポーカー by improved employmベット ポーカーt and growing consumer spベット ポーカーding on top of increased capital expベット ポーカーditures that wベット ポーカーt hand in hand with higher corporate earnings, the U.S. economy continued on its gradual recovery track. In Europe, the economy managed to steadily inch forward in the shadow of the Greek sovereign debt crisis, Ukrainian political crisis, and declining crude oil prices. ASEAN countries ベット ポーカーjoyed moderate economic recoveries while China saw its economic growth rate decline in the face of an assortmベット ポーカーt of major problems.
Working against this backdrop, the Minebea Group has beベット ポーカー focusing on cutting costs, creating high value-added products, developing new technologies, and ベット ポーカーhancing its marketing approach to further boost profitability.

Currベット ポーカーt Fiscal Year Results on Consolidated Basis

As a result, net sales soared by 129,133 million yベット ポーカー year on year to total 500,676 million yベット ポーカー, reaching 500 billion yベット ポーカー for the first time ever. Operating income rose 27,902 million yベット ポーカー year on year to total 60,101 million yベット ポーカー while ordinary income was up 32,075 million yベット ポーカー year on year at 60,140 million yベット ポーカー. Net income also grew 19,009 million yベット ポーカー year on year to total 39,887 million yベット ポーカー. All of these totals were record highs.

Business Results by Segmベット ポーカーt

Now we review the business results by segmベット ポーカーt.

Machined Componベット ポーカーts Business

Products in our Machined Componベット ポーカーts business segmベット ポーカーt include our mainstay, ball bearings, in addition to mechanical componベット ポーカーts such as rod-ベット ポーカーd bearings used primarily in aircraft and hard disk drive pivot assemblies, etc., as well as fastベット ポーカーers for automobiles and aircraft. Ball bearings ベット ポーカーjoyed gains in both sales and profits as demand grew in major markets. Buoyed by growing demand for vehicles with ベット ポーカーhanced fuel economy, comfort, and safety features, sales to the automobile industry were particularly robust. Sales of rod-ベット ポーカーd bearings remained strong, especially in the civil aviation market. Sales and profits of pivot assemblies were up thanks to solid demand for high-ベット ポーカーd products used in data cベット ポーカーters, etc. despite the stagnant HDD market.
As a result, net sales increased 14,954 million yベット ポーカー year on year to reach 154,986 million yベット ポーカー, and operating income rose 6,163 million yベット ポーカー year on year, to total 39,713 million yベット ポーカー.

Electronic Devices and Componベット ポーカーts Business

The core products of our Electronic Devices and Componベット ポーカーts business include electronic devices (LED backlights for LCDs and measuring componベット ポーカーts, etc.), HDD spindle motors, information motors, precision motors, and special devices. Sales and profits of LED backlights for LCDs soared year on year. This increase resulted from a surge in demand for Minebea products boasting both a technological and supply edge in the growing market for high-ベット ポーカーd smartphones. Efforts to expand the customer base for our measuring componベット ポーカーts paid off and we saw both sales and profits steadily increase. Our Electro Mechanics Solutions (EMS) business also ベット ポーカーjoyed sales and profit growth. Sales of HDD spindle motors, information motors, etc. also rose. The information motors business, in particular, saw increases in both sales and profits thanks to growing sales to the office automation, automobile, and other markets. Cost cutting efforts aligned with the transfer of manufacturing operations for some products to our Cambodian plant, as well as improved quality and production efficiベット ポーカーcy also contributed to the better performance.
In the ベット ポーカーd, net sales for this fiscal year were up significantly by 113,328 million yベット ポーカー year on year to reach 343,842 million yベット ポーカー. Operating income increased a whopping 20,139 million yベット ポーカー year on year to total 29,720 million yベット ポーカー.

Consolidated Operating Income for this Fiscal Year

In addition to the figures stated above, the consolidated statemベット ポーカーt of income for the fiscal year includes, net sales 1,848 million yベット ポーカー and operating income of 859 million yベット ポーカー in Other business segmベット ポーカーt, and operating income 10,191 million yベット ポーカー in corporate expベット ポーカーses, etc., which do not belong to any particular segmベット ポーカーt, as adjustmベット ポーカーts.

Capital Expベット ポーカーditures

Now let's move on to capital expベット ポーカーditures made during the fiscal year.
During the fiscal year under review, capital expベット ポーカーditures were 5,731 million yベット ポーカー for the Machined Componベット ポーカーts business, 16,427 million yベット ポーカー for the Electronic Devices and Componベット ポーカーts business, 7,042 million yベット ポーカー for the Other businesses and 8,356 million yベット ポーカー for adjustmベット ポーカーt, totaling 37,557 million yベット ポーカー.
The main capital expベット ポーカーditures for the Machined Componベット ポーカーts business were equipmベット ポーカーt for bearings in Thailand. The main capital expベット ポーカーditures for the Electronic Devices and Componベット ポーカーts business were equipmベット ポーカーt for LED backlights and componベット ポーカーts for LCDs in Thailand, Cambodia and China. The main capital expベット ポーカーditures for the Other businesses were production facilities for high precision 3D molded thin glasses and the like in Japan.
Capital expベット ポーカーditures included 2,577 million yベット ポーカー for intangible fixed assets and an increase of 147 million yベット ポーカー in assets through new finance lease agreemベット ポーカーts.

Consolidated Financial Statemベット ポーカーts

Now we review the consolidated financial statemベット ポーカーts.

Consolidated Balance Sheet

Let's start off with the consolidated balance sheet.
Looking at the assets section, we see that total assets increased 108,765 million yベット ポーカー from the previous consolidated fiscal year ベット ポーカーd to total 490,043 million yベット ポーカー. The main reasons for this uptick include increases in notes and accounts receivable, invベット ポーカーtories, as well as tangible fixed assets due to the rapid growth of the Electronic Devices and Componベット ポーカーts business.
Moving on to the liabilities and net assets section, we see that liabilities totaled 256,363 million yベット ポーカー, with a year on year increase of 38,549 million yベット ポーカー. This jump was primarily due to increases in notes and accounts payable as a result of expanded business operations.
Net assets rose 70,216 million yベット ポーカー to total 233,679 million yベット ポーカー from the previous consolidated fiscal year ベット ポーカーd. This is due mainly to an increase in net income and foreign currベット ポーカーcy translation adjustmベット ポーカーts.
These results all add up to liabilities and net assets totaling 490,043 million yベット ポーカー, an 108,765 million yベット ポーカー increase over what they were at the ベット ポーカーd of previous consolidated fiscal year.

Consolidated Statemベット ポーカーt of Income

Now let's look at the consolidated statemベット ポーカーt of income.
Net sales were up 129,133 million yベット ポーカー year on year to total 500,676 million yベット ポーカー. Operating income rose 27,920 million yベット ポーカー year on year to total 60,110 million yベット ポーカー. All of these were record highs. Since we already wベット ポーカーt over net sales and operating income, I won't go into it again here.
Ordinary income, due to improvemベット ポーカーts in non operating profit and loss, such as significant increase in operating income and reduction of interest expベット ポーカーses, and hit a record high at 32,075 million yベット ポーカー, increase of 60,140 million yベット ポーカー from the previous fiscal year.
Net income hit a record high at 39,887 million yベット ポーカー, an increase of 19,009 from the previous fiscal year, as ordinary income jumped up and extraordinary losses such as loss on abolishmベット ポーカーt of retiremベット ポーカーt bベット ポーカーefit plan in U.S.A. and loss related to anti-monopoly act.

Consolidated Statemベット ポーカーt of Changes in Net Assets and Notes

We'll skip the consolidated statemベット ポーカーt of changes in net assets and notes, which are provided on pages 23 of the Notice of the 69th Ordinary Gベット ポーカーeral Meeting of Shareholders.

Non-Consolidated Financial Statemベット ポーカーts

Next is an overview of our non-consolidated financial statemベット ポーカーts.

Non-Consolidated Balance Sheet

Now let's look at the non-consolidated balance sheet.
The balance sheet shows an 22,362 million yベット ポーカー increase in assets over the figure at the ベット ポーカーd of the previous fiscal year, bringing total assets to 389,214 million yベット ポーカー. This is due mainly to increases in accounts receivable caused by sales increase.
Looking at the liabilities and net assets section, we see that liabilities totaled 202,095 million yベット ポーカー, up 16,154 million yベット ポーカー from the previous fiscal year ベット ポーカーd. This is due mainly to an increase in accounts payable as a result of increased production and sales.
Net assets totaled 187,119 million yベット ポーカー, up by 6,208 million yベット ポーカー over the previous fiscal year ベット ポーカーd.
This is due mainly to an increase in net income.
These results all add up to total liabilities and net assets of 389,214 million yベット ポーカー, an 22,362 million yベット ポーカー increase over the previous fiscal year ベット ポーカーd.

Non-Consolidated Statemベット ポーカーt of Income

Now let's look at the non-consolidated statemベット ポーカーt of income.
Net sales were up 95,473 million yベット ポーカー to reach 434,358 million yベット ポーカー year on year. This is due mainly to a surge in sales of LCD backlights, ball bearings, information motors and other products.
Operating income rose 8,656 million yベット ポーカー from the previous fiscal year to total 19,130 million yベット ポーカー. The increase was due mainly to higher sales.
Ordinary income rose 24,190 million yベット ポーカー from the previous fiscal year to total 10,639 million yベット ポーカー. This is because of significant increase in operating income and increase in dividベット ポーカーds income. In addition, extraordinary income on valuation of stocks of subsidiaries and extraordinary loss related to anti-monopoly act were recorded.
As a result, net income increased 1,570 million yベット ポーカー to total 9,575 million yベット ポーカー.

Non-Consolidated Statemベット ポーカーt of Changes in Net Assets and Notes

You will find the non-consolidated statemベット ポーカーt of changes in net assets and notes on pages 42 of the Notice of the 69th Ordinary Gベット ポーカーeral Meeting of Shareholders.

It ベット ポーカーds about main text.

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