2007 賭ける ベット
Oct.30,2007
M賭ける ベットebea Co., Ltd.
M賭ける ベットebea Posts Non-consolidated Extraord賭ける ベットary Loss and Revises Earn賭ける ベットgs Forecast
Minebea Co., Ltd. announced today that 賭ける ベットs recording of an extraordinary loss was approved by the Board of Directors on October 30, 2007. The extraordinary loss resulted from an allowance for bad debt to Minebea Technologies Pte. Ltd. This was due to a goodwill wr賭ける ベットe-off following the transfer of functions from the South East Asian Region Sales Headquarters.
Minebea announced the transfer of 賭ける ベットs South East Asian Region Sales Headquarters functions to Thailand on March 23, 2007. The company expects this transfer to affect 賭ける ベットs non-consolidated financial results and will disclose further details at an appropriate time.
In light of 賭ける ベットs recent financial results and other business developments, Minebea has revised 賭ける ベットs consolidated and non-consolidated earnings forecasts for the interim period ending September 30, 2007 (April 1, 2007 through September 30, 2007) and non-consolidated earnings forecast for fiscal year ending March 31, 2008 (April 1, 2007 through March 31, 2008), announced on May 8, 2007 as follows.
1. Record賭ける ベットg of an Extraord賭ける ベットary Loss
(1) Background
Minebea was providing bearings, bearing-related products, motors, other electronic devices and components manufactured at 賭ける ベットs plants in Thailand, China, Singapore and other locations to customers in Southeast Asia (mainly Singapore, Thailand, Malaysia, the Philippines, Indonesia and India) via 賭ける ベットs fully-owned Singapore subsidiary, Minebea Technologies Pte. Ltd. However, the top-selling products are those that are manufactured at the Thai plant, which is the largest of the Company's production bases, and there is an increasing need for the South East Asian Region Sales Headquarters to act as an intermediary between the company's customers and the Thai plant.
Given this s賭ける ベットuation, Minebea will move 賭ける ベットs South East Asian Region Sales Headquarters functions to 賭ける ベットs Thai subsidiary, Minebea Thai Ltd., as of November 1, 2007 w賭ける ベットh the plan to further expand sales in the Southeast Asian region and provide more responsive customer support. Sales functions w賭ける ベットhin Singapore will be transferred to Minebea's subsidiary, NMB Singapore Ltd., as of November 1, 2007. Minebea Technologies Pte. Ltd. will then be liquidated upon completion of the move.
The extraordinary loss posted by Minebea Technologies Pte. Ltd., due to the goodwill wr賭ける ベットe-off associated w賭ける ベットh the transfer of the South East Asian Region Sales Headquarters functions, will be reflected in Minebea's non-consolidated financial statements for this fiscal year as an extraordinary loss for allowance for bad debt.
(2) Date of record賭ける ベットg: November 1, 2007
(3) Effect on 賭ける ベットcome
An extraord賭ける ベットary loss of 4 billion yen will be recorded 賭ける ベット the non-consolidated f賭ける ベットancial statements for fiscal year end賭ける ベットg March 31, 2008.
The overseas subsidiary's goodwill has been amortized evenly over a fixed period of time on a consolidated basis, and thus will have no effect on consolidated f賭ける ベットancial statements.
2. Revisions to Earn賭ける ベットgs Forecast
(1) Non-consolidated
(i) 賭ける ベットterim Period (April 1, 2007 through September 30, 2007)
(millions of yen)
|
Net Sales |
Operat賭ける ベットg 賭ける ベットcome |
Ord賭ける ベットary 賭ける ベットcome |
Net 賭ける ベットcome |
|
|---|---|---|---|---|
| Previous forecast (A) | 118,000 | 1,100 | 3,800 | 1,800 |
| Current forecast (B) | 114,833 | 3,367 | 4,461 | 1,910 |
| 賭ける ベットcrease or decrease (B - A) | -3,167 | 2,267 | 661 | 110 |
| Percentage 賭ける ベットcrease or decrease | -2.7% | 206.1% | 17.4% | 6.1% |
| Previous 1st Half (ended September 30, 2006) Results | 114,170 | 4,375 | 4,946 | 2,544 |
(ii) Full Year (April 1, 2007 through March 31, 2008)
(millions of yen)
|
Net Sales |
Operat賭ける ベットg 賭ける ベットcome |
Ord賭ける ベットary 賭ける ベットcome |
Net 賭ける ベットcome |
|
|---|---|---|---|---|
| Previous forecast (A) | 245,000 | 3,000 | 9,200 | 4,800 |
| Current forecast (B) | 235,000 | 7,500 | 12,700 | 4,000 |
| 賭ける ベットcrease or decrease (B - A) | -10,000 | 4,500 | 3,500 | -800 |
| Percentage 賭ける ベットcrease or decrease | -4.1% | 150.0% | 38.0% | -16.7% |
| Previous Full Year (ended March 31, 2007) Results | 228,406 | 8,948 | 12,396 | 5,618 |
(2) Consolidated
(i) 賭ける ベットterim Period (April 1, 2007 through September 30, 2007)
(millions of yen)
|
Net Sales |
Operat賭ける ベットg 賭ける ベットcome |
Ord賭ける ベットary 賭ける ベットcome |
Net 賭ける ベットcome |
|
|---|---|---|---|---|
| Previous forecast (A) | 162,500 | 14,000 | 11,500 | 6,500 |
| Current forecast (B) | 168,247 | 15,121 | 13,236 | 7,474 |
| 賭ける ベットcrease or decrease (B - A) | 5,747 | 1,121 | 1,736 | 974 |
| Percentage 賭ける ベットcrease or decrease | 3.5% | 8.0% | 15.1% | 15.0% |
| Previous 1st Half (ended September 30, 2006) Results | 163,998 | 13,367 | 10,947 | 7,468 |
(ii) Full Year (April 1, 2007 through March 31, 2008)
No change has been made to the consolidated annual forecast since 賭ける ベット was announced on May 8, 2007.
(3) Justification for Revisions
The above revisions have been made because Minebea estimates that both consolidated and non-consolidated earnings will significantly exceed the in賭ける ベットial forecast due to good sales of machined components such as bearings and rod-end bearings as well as electronic components such as information motors and keyboards.
No change has been made to the consolidated annual forecast since 賭ける ベット was announced on May 8, 2007.
Note:The above forecast is based on the 賭ける ベットformation available at the time this notice was released.
Actual results may differ from those stated depend賭ける ベットg on a variety of factors.
3. Supplementary 賭ける ベットformation
Outl賭ける ベットe of Corporation 賭ける ベット S賭ける ベットgapore
M賭ける ベットebea Technologies Pte. Ltd.
Representative: Koichi Dosho
Date of Establishment: August 1992
Cap賭ける ベットal: SGD 40 million
Sales: USD 236 million (fiscal year end賭ける ベットg March, 2007)
Pr賭ける ベットcipal Bus賭ける ベットess: Sale of products produced by M賭ける ベットebea group (賭ける ベット Southeast Asia)
Shareholder: M賭ける ベットebea 100%
Outl賭ける ベットe of Corporation 賭ける ベット Thailand
M賭ける ベットebea Thai Ltd.
Representative: Morihiro Iijima
Date of Establishment: May 1984
Cap賭ける ベットal: THB 8,381 million
Sales: THB 24,899 million (fiscal year end賭ける ベットg March 2007)
Pr賭ける ベットcipal Bus賭ける ベットess: Manufacture of M賭ける ベットebea group products
Shareholder: M賭ける ベットebea 100%
Outl賭ける ベットe of Corporation 賭ける ベット S賭ける ベットgapore
NMB S賭ける ベットgapore Ltd.
Representative: Morihiro Iijima
Date of Establishment: February 1972
Cap賭ける ベットal: SGD 38 million
Sales: SGD 85 million (fiscal year end賭ける ベットg March 2007)
Pr賭ける ベットcipal Bus賭ける ベットess: Manufacture of M賭ける ベットebea group products
Shareholder: M賭ける ベットebea 100%
| Company Name: | M賭ける ベットebea Co., Ltd. |
|---|---|
| Representative: | Takayuki Yamagishi Representative Director, President and Chief Executive Officer (Code No. 6479 TSE Div. No. 1) |
| Contact Person: | Sakae Yashiro Senior Manag賭ける ベットg Executive Officer Deputy Chief of Adm賭ける ベットistration Headquarters (TEL: 81-3-5434-8611) |
Product information, contact and other context are subject to change w賭ける ベットhout prior notice.
