Q1 2020 Minebea Mitsumi Inc Earnings Call Transcript
My name is Yoshida. Today, I would like to explain about the consolidated financial results for the first quarter of the fiscal year ending March 31, 2020. And then Mr. Kainuma, Representative Director, CEO and COO, will explain about the highlights, including business updates.
Please turn to Page 2. Consolidated net sales for the first quarter totaled JPY 204.425 billion, a decrease of 4.0% year-on-year, but an increase of 10% quarter-on-quarter. Operating income was down 74.4% year-on-year and down 47.6% quarter-on-quarter to a total JPY 3.663 billion. Profit for the period attributable to the owners of the parent decreased 78.9% year-on-year and 74.8% quarter-on-quarter to total JPY 2.297 billion. Currency fluctuations brought net sales down, an estimated JPY 0.1 billion quarter-on-quarter and up JPY 1 billion year-on-year. It also brought operating income up JPY 0.1 billion quarter-on-quarter and up JPY 0.6 billion year-on-year.
Also, on April 10, we acquired a 76.2% of
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