Business Results Fiscal Year Ended March 31, 2019 MinebeaMitsumi Inc. May 8, 2019
Today’s Agenda 1. Financial Results 2. Management Policy & Business Strategy 2 May 8, 2019
Financial Results Katsuhiko Yoshida Managing Executive Officer 3 May 8, 2019
Summary of Consolidated Business Results *Based on IFRS Net sales, Operating Income and Profit for the Period Hit Record Highs [ IFRS ] FY3/19 Forecast FY3/18 FY3/19 Change (February 2019 Forecast) (Millions of yen) Full Year Full Year YoY Full Year VS. Forecast 881,413 884,723 +0.4% 900,000 98.3% Net sales 68,902 72,033 +4.5% 75,000 96.0% Operating income 66,855 71,321 +6.7% 75,000 95.1% Profit before taxes Profit for the period 50,326 60,142 +19.5% 60,000 100.2% attributable to owners of the parent Earnings per share, 119.61 143.90 +20.3% 143.68 100.2% basic (yen) FY3/18 FY3/19 Foreign Exchange Rates Full Year Full Year US$ ¥111.19 ¥110.67 Euro ¥129.36 ¥128.75 Thai Baht ¥3.35 ¥3.42 ¥16.70 ¥16.52 Chinese RMB 4 May 8, 2019
Summary of Consolidated Business Results for 4Q *Based on IFRS Year on Year Profit Increase [ IFRS ] FY3/19 Change FY3/18 (Millions of yen) 4Q 3Q 4Q YoY QoQ 224,246 249,570 185,785 -17.2% -25.6% Net sales 6,453 31,124 6,994 +8.4% -77.5% Operating income 5,496 30,333 6,712 +22.1% -77.9% Profit before taxes Profit for the period 1,814 24,177 9,109 X5.0 -62.3% attributable to owners of the parent Earnings per share, 4.33 57.92 21.94 X5.1 -62.1% basic (yen) Foreign FY3/18 FY3/19 FY3/19 Exchange Rates 4Q 3Q 4Q US$ ¥109.72 ¥113.43 ¥110.28 Euro ¥133.77 ¥129.92 ¥126.08 Thai Baht ¥3.45 ¥3.45 ¥3.47 Chinese RMB ¥17.16 ¥16.35 ¥16.33 5 May 8, 2019
Net Sales, Operating Income/Margin *JGAAP until FY3/18, IFRS since FY3/19 (Billions of yen) Net sales Operating income 1,030.0 Operating margin 879.1 884.7 79.2 77.0 72.0 60.1 638.9 609.8 51.4 49.0 500.7 371.5 32.2 282.4 251.4 10.2 12.0% 8.6 9.0% 8.7% 8.1% 8.4% 7.7% 7.5% 3.4% 3.6% FY3/12 FY3/13 FY3/14 FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20 Forecast [JGAAP] [ IFRS ] 6 May 8, 2019
Net Sales, Operating Income/Margin *JGAAP until FY3/18, IFRS since FY3/19 (Billions of yen) Net sales Operating income 249.6 Operating margin 235.8 236.3 31.1 225.9 224.2 213.0 196.4 193.2 24.9 185.8 22.4 167.4 154.8 19.6 17.1 16.1 120.3 14.8 14.3 14.3 11.6 7.0 7.0 12.5% 10.6% 9.9% 9.6% 8.8% 8.3% 7.5% 7.3% 6.7% 6.6% 5.8% 3.8% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/17 FY3/18 FY3/19 [JGAAP] [JGAAP] [ IFRS ] [ IFRS ] 7 May 8, 2019
4Q Actual: Differences from the Forecast as of Feb. (Billions of yen) Net Sales Operating Income 8 May 8, 2019
Actual: Differences from the Forecast as of May ’18 (Billions of yen) Net Sales Operating Income 9 May 8, 2019
Machined Components *JGAAP until FY3/18, IFRS since FY3/19 Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin Ball bearings Rod-ends/Fasteners Pivot assemblies Other 26.8% 25.5% 25.4% 190.0 25.0% 24.9% 188.3 24.2% 176.4 51.0 26.0 29.5 7.1 Excluding ¥ 0.7bn of 163.8 47.8 PPA impact in Q4 156.3 155.8 31.5 43.4 34.3 39.0 40.9 39.7 32.6 37.6 39.1 42.7 37.9 31.9 32.1 29.6 30.4 125.0 121.2 105.9 97.4 94.1 87.5 FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20E FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20E [JGAAP] [ IFRS ] [JGAAP] [ IFRS ] 10 May 8, 2019
Machined Components *JGAAP until FY3/18, IFRS since FY3/19 Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin Ball bearings Rod-ends/Fasteners Pivot assemblies Other 27.1% 26.5% 25.6% 25.9% 26.0% 24.5% 24.7% 24.5% 24.8% 23.5% 23.6% 22.1% 46.7 47.3 47.3 48.2 47.4 12.9 12.5 Excluding ¥0.7bn of 45.5 PPA impact in Q4 3.3 11.7 3.8 8.0 41.3 40.6 41.7 7.6 7.9 11.2 10.4 10.8 11.0 6.0 10.7 39.2 10.4 37.3 38.5 7.5 10.1 8.2 7.9 8.4 9.5 10.5 7.9 9.1 7.6 9.1 8.9 9.4 10.1 8.7 7.9 8.7 7.9 7.8 7.7 7.5 8.0 6.8 7.1 30.4 31.1 30.3 29.4 23.6 22.3 23.1 25.2 25.2 26.0 26.8 27.8 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/17 FY3/18 FY3/19 FY3/17 FY3/18 FY3/19 [JGAAP] [ IFRS ] [JGAAP] [ IFRS ] 11 May 8, 2019
Electronic Devices & Components *JGAAP until FY3/18, IFRS since FY3/19 Net sales (Billions of yen) Operating income (Billions of yen) Motors Operating income Operating margin Electronic devices Sensing devices Other 451.5 445.5 441.6 3.8 3.6 4.0 35.7 35.9 404.0 38.3 387.3 4.0 4.2 39.0 8.9% 36.4 344.7 6.9% 5.2 5.2% 5.0% 5.0% 13.4 4.4% 31.2 30.7 227.8 245.0 161.0 241.0 158.5 170.9 22.3 21.9 21.0 16.9 200.0 188.1 184.2 161.0 158.3 155.3 FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20E FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20E [JGAAP] [ IFRS ] [JGAAP] [ IFRS ] 12 May 8, 2019
Electronic Devices & Components *JGAAP until FY3/18, IFRS since FY3/19 Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin Motors Electronic devices Sensing devices Other 133.1 128.7 1.0 9.2% 8.6% 1.2 9.7 7.3% 7.3% 8.5 6.6% 117.4 114.6 114.4 5.5% 112.3 0.8 4.6% 1.3 1.2 8.9 1.1 104.4 9.7 12.3 101.7 4.9% 9.0 4.9% 0.7 0.9 8.3 93.7 91.7 2.1% 8.7 11.4 0.8 87.4 0.5% 0.5% 1.0 10.6 8.3 1.2 80.9 9.1 75.8 9.3 0.7 9.4 80.9 8.6 56.4 55.5 68.9 58.9 51.3 45.2 39.6 34.5 27.9 7.5 6.8 32.2 6.4 5.6 5.5 4.0 39.4 38.8 38.0 42.1 44.0 46.5 46.7 46.9 47.0 49.0 47.1 44.9 1.9 0.4 0.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/17 FY3/18 FY3/19 FY3/17 FY3/18 FY3/19 [JGAAP] [ IFRS ] [JGAAP] [ IFRS ] [ IFRS ] 13 May 8, 2019
Both net sales and operating income in and before 3Q FY3/17 are pre- Mitsumi Business merger results. 4Q FY3/17 results are based on managerial accounting for the three months. JGAAP until FY3/18, IFRS since FY3/19. Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin 8.6% 7.2% 308.4 5.2% 290.0 0.6% 250.6 0% -2.8% 22.3 21.5 178.0 163.6 -5.9% 153.0 15.0 1.8 1.0 *Excluding ¥12.3bn of inventory write-down in 3Q -4.6 Extraordinary expenses/losses approx. +5.0 in 3Q -10.6 FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20E FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20E [JGAAP] [ IFRS ] [JGAAP] [ IFRS ] 14 May 8, 2019
Both net sales and operating income in and before 3Q FY3/17 are pre- Mitsumi Business merger results. 4Q FY3/17 results are based on managerial accounting for the three months. JGAAP until FY3/18, IFRS since FY3/19. Net sales (Billions of yen) Operating income (Billions of yen) Operating income Operating margin 14.7% 14.8% 10.8% 7.1% 7.9% 7.4% 100.6 1.8% 4.1% -3.4% 0% 87.6 13.0 -2.6% 75.0 73.9 -10.7% 9.8 66.7 -19.4% 7.5 6.6 60.8 3.8 52.9 3.7 * 3.0 3.0 48.1 47.8 46.3 44.6 1.4 32.6 -1.2 -1.5 *Excluding ¥12.3bn of inventory write-down in 3Q -3.5 Extraordinary expenses/losses approx. +5.0 in 3Q -9.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/17 FY3/18 FY3/19 FY3/17 FY3/18 FY3/19 [JGAAP] [ IFRS ] [JGAAP] [ IFRS ] 15 May 8, 2019
Profit Attributable to Owners of the Parent *JGAAP until FY3/18, IFRS since FY3/19 Hit Record High for Three Years in a Row (Billions of yen) Profit for the period attributable to owners of the parent Earnings per share, basic (yen) 62.0 60.1 59.4 41.1 39.9 36.4 149.4 143.9 141.1 20.9 107.3 106.7 97.3 55.9 5.9 1.8 15.6 4.8 FY3/12 FY3/13 FY3/14 FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20 Forecast [JGAAP] [ IFRS ] 16 May 8, 2019
Profit Attributable to Owners of the Parent *JGAAP until FY3/18, IFRS since FY3/19 (Billions of yen) Profit for the period attributable to owners of the parent Earnings per share, basic (yen) 24.2 20.1 17.3 16.2 16.0 57.9 14.2 12.2 47.7 10.9 41.2 9.6 39.7 38.0 9.1 7.8 33.5 32.4 26.0 25.5 21.9 3.2 18.7 8.5 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/17 FY3/18 FY3/19 [JGAAP] [ IFRS ] 17 May 8, 2019
Inventories *JGAAP until FY3/18, IFRS since FY3/19 176.8 (Billions of yen) 169.1 163.2 156.8 152.4 150.1 141.4 134.0 120.4 96.4 96.7 87.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY3/17 FY3/18 FY3/19 [JGAAP] [ IFRS ] 18 May 8, 2019
Net Interest-Bearing Debt/Free Cash Flow *JGAAP until FY3/18, IFRS since FY3/19 (Billions of yen) Net interest-bearing debt Free cash flow 97.5 93.1 70.9 55.0 52.5 46.5 37.2 36.3 24.5 20.8 21.7 -1.1 FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 FY3/20 Forecast [JGAAP] [ IFRS ] 19 May 8, 2019
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