Minebea Mitsumi Inc (OTCPK:MNBEF)
$ 17.62 0 (0%) Market Cap: 6.83 Bil Enterprise Value: 8.17 Bil PE Ratio: 17.42 PB Ratio: 1.49 GF Score: 93/100
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Q1 2025 Minebea Mitsumi Inc Earnings Call Transcript

Aug 02, 2024 / 08:30AM GMT
Release Date Price: $17.62

Key Points

Positve
  • Consolidated net sales for the first quarter increased by 21.6% year on year, reaching JPY355.454 billion.
  • Operating income increased three times year on year, totaling JPY20.025 billion.
  • Net sales and operating income hit a first-quarter record high.
  • Sales of ball bearings increased 8.1% quarter on quarter, driven by recovery in the data center market.
  • The company has a positive outlook for the second quarter, expecting further recovery and growth.
Negative
  • Operating income decreased by 1.6% quarter on quarter.
  • Profit attributable to owners of the parent decreased by 24% quarter on quarter.
  • Sales of electronic devices fell short of the forecast.
  • The Access Solutions segment saw a 1.8% decrease in net sales quarter on quarter, mainly due to stagnant sales in the Chinese market.
  • Inventory levels increased significantly, partly due to strategic buildup and foreign currency effects, which could pose a risk if demand does not meet expectations.
Katsuhiko Yoshida
Minebea Mitsumi Inc - Executive President, Chief Financial Officer, Chief Operating Officer, Chief Director of Tokyo, Manager of Business Administration & Planning, Manager of Sustainability Promotion, Director

Hello, this is Yoshida. Today, I would like to first explain the consolidated financial results for the first quarter of fiscal year ending March 2025. Consolidated net sales for the first quarter of the fiscal year ending March 2025 was up 21.6% year on year and up 1.9% quarter on quarter to total JPY355.454 billion.

Operating income increased three times year on year and down 1.6% quarter on quarter to total JPY20.025 billion. Profit for the period attributable to the owners of the parent increased by 3.4 times year on year and decreased by 24% quarter on quarter to total JPY13.936 billion.

Net sales and operating income hit a first quarter record high. We estimate that foreign currency exchange rates have a quarter-on-quarter impact of plus JPY11.5 billion on a year-on-year basis. The impact of plus JPY33.6 billion in net sales, quarter-on-quarter impact

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