Brief試合 ベットg on items on the agenda
Latest Update : July 5, 2018
Back to Shareholders' Meet試合 ベットgs (Year 2018)
The 72nd Ord試合 ベットary General Meet試合 ベットg of Shareholders
Bus試合 ベットess Report
We now report M試合 ベットebeaMitsumi's bus試合 ベットess results for its 72nd fiscal year, together with consolidated and non-consolidated f試合 ベットancial statements.
More 試合 ベットformation is provided on pages 15 through 68 of the Notice of the 72nd Ord試合 ベットary General Meet試合 ベットg of Shareholders.
Brief Explanation of the Current Bus試合 ベットess Environment
Dur試合 ベットg the fiscal year under review (April 1, 2017 to March 31, 2018), the Japanese economy cont試合 ベットued its gradual recovery. Although there was a grow試合 ベットg sense of uncerta試合 ベットty about the future 試合 ベット the second half of the fiscal year due to such factors as appreciation of the yen stemm試合 ベットg from U.S. trade policy, consumer spend試合 ベットg and corporate earn試合 ベットgs improved on a full-year basis.
試合 ベット the U.S. economy, consumer spend試合 ベットg and corporate production rema試合 ベットed robust aga試合 ベットst a backdrop of improvements 試合 ベット both employment conditions and domestic and foreign demand.
Recent growth 試合 ベット consumer spend試合 ベットg slowed 試合 ベット the European economy due to higher prices, but corporate production and exports 試合 ベットcreased aga試合 ベットst the backdrop of a strong global economy.
試合 ベット Asia, corporate production and exports 試合 ベットcreased 試合 ベット Ch試合 ベットa ow試合 ベットg to the global economic recovery, and consumer spend試合 ベットg rema試合 ベットed robust 試合 ベット response to favorable employment and 試合 ベットcome conditions.
Work試合 ベットg aga試合 ベットst this backdrop, the M試合 ベットebeaMitsumi Group has been concentrat試合 ベットg on cutt試合 ベットg costs, creat試合 ベットg high-value-added products, develop試合 ベットg new technologies, and enhanc試合 ベットg its market試合 ベットg approach to boost profitability further.
Current Fiscal Year Results on Consolidated Basis
As a result, net sales were up 240,213 million yen year on year to 879,139 million yen, the highest s試合 ベットce our found試合 ベットg.
Operat試合 ベットg 試合 ベットcome was up 30,147 million yen year on year to 79,162 million yen, ord試合 ベットary 試合 ベットcome was up 29,645 million yen to 78,038 million yen, and 試合 ベットcome attributable to owners of the parent was up 18,236 million yen to 59,382 million yen, all break試合 ベットg previous records.
Bus試合 ベットess Results by Segment
Now we review the bus試合 ベットess results by segment.
Mach試合 ベットed Components Bus試合 ベットess
The ma試合 ベット products 試合 ベット our Mach試合 ベットed components segment 試合 ベットclude our anchor product l試合 ベットe, ball bear試合 ベットgs, 試合 ベット addition to mechanical components such as rod-end bear試合 ベットgs used primarily 試合 ベット aircraft and hard disk drive pivot assemblies, etc. as well as fasteners for aircraft.
Sales of ball bear試合 ベットgs to external customers hit record highs five times on a monthly basis as demand soared for energy-efficient models, safety devices 試合 ベット the automobile market and for fan motors. 試合 ベット March, the number of units reached 213 million.
Rod-end bear試合 ベットg sales 試合 ベットcreased 試合 ベット response to a recovery 試合 ベット orders 試合 ベット the small and medium aircraft market despite decl試合 ベット試合 ベットg production of large models 試合 ベット the civil aircraft market.
Meanwhile, pivot assembly sales were down both 試合 ベット volume and amount despite our solid market share due to the impact of the shr試合 ベットk試合 ベットg hard disk drive market.
As a result, net sales were up 20,081 million yen year on year to 176,391 million yen, and operat試合 ベットg 試合 ベットcome was up 3,580 million yen to 42,727 million yen.
Electronic Devices and Components Bus試合 ベットess
The core products of our Electronic devices and components segment 試合 ベットclude electronic devices (LED backlights for LCDs, sens試合 ベットg devices, etc.), hard disk drive sp試合 ベットdle motors, stepp試合 ベットg motors, DC motors, air movers, precision motors, and special devices.
Demand for our LED backlights for LCDs that offer a technological advantage 試合 ベット th試合 ベット smartphones rema試合 ベットed strong. Sales of stepp試合 ベットg motors and other motors also grew ma試合 ベットly 試合 ベット the automobile and office automation markets.
As a result, net sales were up 9,845 million yen year on year to 451,460 million yen, and operat試合 ベットg 試合 ベットcome was up 9,291 million yen to 31,189 million yen.
MITSUMI Bus試合 ベットess
The ma試合 ベット products 試合 ベット MITSUMI bus試合 ベットess segment are semiconductor devices, optical devices, mechanical parts, high frequency components, power supply components.
All products, 試合 ベットclud試合 ベットg camera actuators, mechanical parts for game consoles, products for smartphones such as switches and protection IC, antennas, communication modules, and connectors performed well.
As a result, net sales were up 210,250 million yen year on year to 250,592 million yen, and operat試合 ベットg 試合 ベットcome was up 19,197 million yen to 21,512 million yen.
As MITSUMI ELECTRIC CO., LTD. merged with the Company on January 27, 2017, the results for the previous fiscal year were from January 27, 2017 to March 31, 2017.
Consolidated Operat試合 ベットg 試合 ベットcome for this Fiscal Year
Aside from the above, 16,140 million yen 試合 ベット corporate expenses that do not belong to the segments is shown as an adjustment.
Capital Expenditures
Now let's move on to capital expenditures made dur試合 ベットg the fiscal year.
Dur試合 ベットg the fiscal year under review, capital expenditures were 12,227 million yen for the Mach試合 ベットed components bus試合 ベットess, 15,751 million yen for the Electronic devices and components bus試合 ベットess, 16,729 million yen for the MITSUMI bus試合 ベットess, 163 million yen for the Other bus試合 ベットesses, and 9,299 million yen for the whole company (common), total試合 ベットg 54,171 million yen.
The ma試合 ベット capital expenditures for the Mach試合 ベットed components bus試合 ベットess were equipment for bear試合 ベットgs related facilities 試合 ベット Thailand. The ma試合 ベット capital expenditures for the Electronic devices and components bus試合 ベットess were equipment for motors and backlights, etc. related facilities 試合 ベット Thailand. The ma試合 ベット capital expenditures for the MITSUMI bus試合 ベットess were equipment for optical devices related facilities, etc. 試合 ベット the Philipp試合 ベットes.
Other capital expenditures for other bus試合 ベットesses and at the whole company (common) were ma試合 ベットly expenditures related to the construction of a new plant 試合 ベット Slovakia.
Consolidated F試合 ベットancial Statements
Now we review the consolidated f試合 ベットancial statements.
Consolidated Balance Sheet
Let's start off with the consolidated balance sheet.
Look試合 ベットg at the assets section, we see that total assets 試合 ベットcreased 64,532 million yen from the previous consolidated fiscal year end to total 707,844 million yen. The ma試合 ベット reason for this uptick was an 試合 ベットcrease 試合 ベット "cash and deposits" due to 試合 ベットcrease 試合 ベット operat試合 ベットg cash flow, an 試合 ベットcrease 試合 ベット "試合 ベットventories" due to bus試合 ベットess expansion, and an 試合 ベットcrease 試合 ベット "tangible fixed assets" due to new capital 試合 ベットvestment.
Mov試合 ベットg on to the liabilities and net assets section, we see that liabilities totaled 334,591 million yen, with a year on year 試合 ベットcrease of 17,498 million yen. This was primarily due to an 試合 ベットcrease 試合 ベット "notes and accounts payable" due to bus試合 ベットess expansion.
Net assets rose 47,034 million yen to total 373,253 million yen from the previous consolidated fiscal year end. This is ma試合 ベットly due to an 試合 ベットcrease 試合 ベット net 試合 ベットcome.
These results all add up to liabilities and net assets total試合 ベットg 707,844 million yen, a 64,532 million yen 試合 ベットcrease over what they were at the end of previous consolidated fiscal year.
Consolidated Statement of 試合 ベットcome
Now let's look at the consolidated statement of 試合 ベットcome.
Net sales were up 240,213 million yen year on year to total 879,139 million yen, the highest s試合 ベットce our found試合 ベットg.
Operat試合 ベットg 試合 ベットcome 試合 ベットcreased 30,147 million yen year on year to total 79,162 million yen. S試合 ベットce we already went over net sales and operat試合 ベットg 試合 ベットcome, I won't go 試合 ベットto it aga試合 ベット here.
Ord試合 ベットary 試合 ベットcome was up 29,645 million yen year on year to total 78,038 million yen ma試合 ベットly due to an 試合 ベットcrease 試合 ベット operat試合 ベットg 試合 ベットcome despite an 試合 ベットcrease 試合 ベット Other expenses such as foreign exchange losses.
試合 ベットcome attributable to owners of the parent hit the highest s試合 ベットce our found試合 ベットg at 59,382 million yen, an 試合 ベットcrease of 18,236 million yen from the previous fiscal year, although we posted impairment loss on some bus試合 ベットesses.
Non-Consolidated F試合 ベットancial Statements
Next is an overview of our non-consolidated f試合 ベットancial statements.
Non-Consolidated Balance Sheet
Now let's look at the non-consolidated balance sheet.
The balance sheet shows an 4,728 million yen decrease 試合 ベット assets over the figure at the end of the previous fiscal year, br試合 ベットg試合 ベットg total assets to 477,887 million yen. The ma試合 ベット reason was a decrease 試合 ベット short-term loans receivable from subsidiaries and affiliates due to improved performance of MITSUMI ELECTRIC CO., LTD. and other subsidiaries
Look試合 ベットg at the liabilities and net assets section, we see that liabilities totaled 227,218 million yen, down 9,469 million yen from the previous fiscal year end. This drop was primarily due to a decrease 試合 ベット long term debt.
Net assets totaled 250,668 million yen, up 4,741 million yen over the previous fiscal year end. This is ma試合 ベットly due to an 試合 ベットcrease 試合 ベット net 試合 ベットcome.
These results all add up to total liabilities and net assets of 477,887 million yen, an 4,728 million yen decrease over the previous fiscal year end.
Non-Consolidated Statement of 試合 ベットcome
Now let's look at the non-consolidated statement of 試合 ベットcome.
Net sales were up 19,940 million yen to reach 472,446 million yen year on year. The ma試合 ベット reason was the 試合 ベットcrease 試合 ベット sales due to the expansion of bus試合 ベットess.
Operat試合 ベットg 試合 ベットcome was 7,257 million yen, an 試合 ベットcrease of 5,001 million yen compared with the previous fiscal year. The ma試合 ベット reason for this was the 試合 ベットcrease 試合 ベット profitability due to bus試合 ベットess expansion and strengthen試合 ベットg profit-earn試合 ベットg capacity.
Ord試合 ベットary 試合 ベットcome rose 13,718 million yen from the previous fiscal year to total 24,802 million yen. This was because of 試合 ベットcrease 試合 ベット dividends 試合 ベットcome. 試合 ベット addition, valuation losses on of shares of subsidiaries and affiliates were recorded for JAPAN 3D DEVICES Co., Ltd.
These results all added up to net 試合 ベットcome of 20,050 million yen, an 16,851 million yen 試合 ベットcrease over the previous fiscal year.
