Minebea Mitsumi Inc U/Adr

I would like to explain the consolidated financial results for the third quarter of the fiscal year ending March 2024. Consolidated net sales for the third quarter of the fiscal year end in March 2024 was up 2.6% year-on-year and up 0.4% quarter-on-quarter to total 381,207,000,000 yen. Operating income was down 5.8% year-on-year and up 13.7% quarter-on-quarter to total 24,027,000,000 yen. Profit for the period attributable to the owners of parent up 20.2 percent year-on-year and down 7.7 percent quarter-on-quarter to total 14 billion 754 million yen net sales hit a quarterly record high We estimate that FX translations have a quarter-on-quarter impact of ¥12.3 billion and year-on-year impact of ¥13.1 billion in net sales and quarter-on-quarter impact of ¥2.6 billion and year-on-year impact of ¥0.4 billion in operating income. We made slight retrospective changes to last fiscal year's and Q1 and Q2 of this fiscal year financial statements are due to the PPA for Honda Tsushin Kogyo and Minibare Connect. Please note that the figures on the following pages are revised figures. Next slide please. This is for quarterly trend in net sales operating income and operating margin. The operating margin for the third quarter was 6.3%, which is down 0.6 percentage point year-on-year and up 0.7 percentage points quarter-on-quarter. Next slide, please. Here shows the difference between the forecast as of November and actual results for net sales and operating income by business segment for the third quarter. Net sales of PT exceeded expectations due to solid growth in automobile and aircraft applications, although sales to data centers remained sluggish. MLS sales exceeded expectations mainly in motors for automotive applications and electronic devices. SE sales was below expectations mainly in optical devices AS sales exceeded expectations due to a recovery in automotive production operating income for PT was lower than expected due to a deteriorating utilization MLS was broadly in line with expectations, mainly due to strong sales of motors for automotive applications and electronic devices. SE was lower than expected, mainly in optical devices. AS exceeded expectations due to factors such as price corrections and productivity improvement. Next slide, please. Let's look at the quarterly result by segment, starting with the precision technologies business segment. On the left is a graph indicating quarterly net sales trends, and on the right is a graph with a bar chart, quarterly operating income trends, along with a line chart for operating margins. Third quarter net sales increased 4.9% quarter-on-quarter to a total of $53.9 billion. yen. Sales of ball bearings increased at 2.9% quarter-on-quarter to total 38.2 billion yen. The monthly external shipment volume was up 9.2% quarter-on-quarter for a monthly average of 219 million units. This was mainly due to an increase in automotive applications thanks to the market recovery and content growth as well as Slight signs of bottoming out in data center applications. Sales of rod end and fasteners totaling ¥11.5 billion were up 13.3% over the previous quarter. Sales of feeble assemblies were up 1.9% quarter on quarter to total ¥4.3 billion. Operating income for the quarter totaled ¥19.8 billion, and the operating margin was 18.2%. On a quarter-on-quarter comparison, operating income increased 8.3%, while the operating margin improved 0.6%. Turning to product-by-product results, operating income for rollers and fasteners and pivot assemblies increased quarter-on-quarter. Next slide, please.

Now let's take a look at the motor lighting and sensing segment. Net sales decreased 0.8% quarter-on-quarter to total 91.9 billion yen. Looking at the results by product, the sales of motors increased 0.6% quarter-on-quarter to reach ¥69.5 billion. This is mainly due to solid sales, particularly for motors for automotive applications. Sales of electronic devices were down 3.2% from the previous quarter to total ¥12.7 billion. Sales of sensing devices totaling ¥8.9 billion were down 6.6% from the previous quarter. operating income came to 2.8 billion yen, and the operating margin was 3.1%. On a quarter-on-quarter basis, operating income decreased by 22.2%, and the operating margin was down by 0.8 percentage points. Next slide, please. Let's look at the performance for the semiconductor and electronic segment. Its sales decreased by 6.8% quarter-on-quarter to total 146.5 billion yen. This was mainly due to higher sales from optical devices amid ramp-up production of new products, while sales of mechanical components decreased. Operating income totaled 12.8 billion yen with the operating margin of 8.7%. Operating income increased 1.2% and the operating margin increased 0.7 percentage points quarter on quarter. This increase was mainly due to the jump in sales for optical devices. Finally, let's look at the next slide. Let's look at the access solutions segment. Net sales increased 13.3% quarter on quarter to total 87.9 billion yen. This was mainly due to a recovery in production of automotive manufacturers. Our operating profit totaled 5.7 billion yen and operating margin was 6.5%. Operating income increased 4.9 times and operating margin increased 5 percentage points quarter on quarter, mainly thanks to productivity improvement. Next slide, please. The bar graph here shows trends in profit attributable to owners of the parent, while the line graph chart changes in the profit for the period per share. The profit for the period was 14.8 billion yen. Earnings per share was 36.5 yen. Next slide, please. Next, this is the quarterly inventory trend. At the end of the third quarter, inventory totaled 300.5 billion yen, which is 2.3 billion yen less than it was three months ago. Next slide please. This graph contains a bar chart showing trends in net interest-bearing debt which is a total interest-bearing debt minus cash and cash equivalents and a line chart indicating free cash flows. At the end of the third quarter net interest-bearing debt totaling 237.6 billion yen was up 35.9 billion yen from the end of the previous fiscal year. Regarding the net interest bearing debt forecast at the end of the year ending March 2024, we expect our cash position to improve due to our high cash generating capacity. Next slide, please. The forecast for the full year ending in March 2024 has been raised downward 77 billion yen to 70 billion yen in operating income after a close examination of market assumptions and the status of the order. Overall net sales is unchanged with slight revisions between the business segments. Operating income for AES is kept to the same level as initial plan and the downward revision has been made for the other business segments. The exchange rate is assumed to be 145 yen to the U.S. dollar. Next slide, please. This slide shows the forecast by business segment. Next slide, please. This chart shows the difference between device forecast and the forecast as of November. This is all for my presentation.