FIRST QUARTER BRIEF REPORT OF FINANCIAL RESULTSIFRS〕(Consolidated

(Year ending March 31, 2021)

August 4, 2020

Registered

MINEBEA MITSUMI Inc. Common Stock Listings: Tokyo and Nagoya

Company Name:

Code No:

6479

URL: https://www.minebeamitsumi.com/

Representative:

Yoshihisa Kainuma

Representative Director, CEO & COO

Contact:

Mitsunobu Yamamoto General Manager of Accounting Department

Quarterly report filing date: August 12, 2020

Phone: (03) 6758-6711

Expected date of payment for dividends:

Preparation of supplementary explanation material for quarterly financial results : Yes

Holding of presentation meeting for quarterly financial results : YesFor Analyst

(Amounts less than one million yen have been rounded.)

1. Business Performance (April 1, 2020 through June 30, 2020)

(1) Consolidated Results of Operations (Year-to-date)

(%: Changes from corresponding period of previous fiscal year)

Net sales

%

Operating income

%

Profit before

%

income taxes

(millions of yen)

Change

(millions of yen)

Change

Change

(millions of yen)

Three months ended Jun. 30, 2020

187,463

(8.3)

5,364

61.4

5,274

57.9

Three months ended Jun. 30, 2019

204,425

(4.0)

3,324

(76.7)

3,341

(76.4)

Profit for

Profit for the period

Comprehensive

%

attributable to

%

income

%

the period

Change

owners of the parent

Change

for the period

Change

(millions of yen)

(millions of yen)

(millions of yen)

Three months ended Jun. 30, 2020

3,616

44.1

3,573

64.4

10,847

Three months ended Jun. 30, 2019

2,510

(77.2)

2,173

(80.0)

(6,424)

Earnings per

Earnings per

share, basic

share, diluted

(yen)

(yen)

Three months ended Jun. 30, 2020

8.75

8.57

Three months ended Jun. 30, 2019

5.23

5.15

(Notes) At March 31, 2020, provisional accounting treatments for business combinations were finalized, and the contents of finalization of the provisional accounting treatments are reflected on the figures for the first quarter of the year ended March 31, 2020.

(2) Consolidated Financial Position

Total equity

Total equity

Equity ratio

Total assets

attributable to

attributable to

(millions of yen)

(millions of yen)

owners of the parent

owners of the parent

(millions of yen)

(%)

As of Jun. 30, 2020

940,009

407,404

404,113

43.0

As of Mar. 31, 2020

864,481

402,276

394,372

45.6

2. Dividends

Annual dividends

End of

End of

End of

Year-end

For the year

first quarter

second quarter

third quarter

(yen)

(yen)

(yen)

(yen)

(yen)

Year ended Mar. 31, 2020

14.00

14.00

28.00

Year ending Mar. 31, 2021

Year ending Mar. 31, 2021

(Forecast)

(Notes) Changes from the latest dividend forecast: None

Regarding the annual dividends for the fiscal year ending March 31, 2021, we will determine the dividend payout of around 20% on a consolidated basis.

- 1 -

3. Prospect for Consolidated Forecast for the Fiscal Year (April 1, 2020 through March 31, 2021)

(%: Changes from corresponding period of previous fiscal year)

Net sales

%

Operating income

%

(millions of yen)

Change

(millions of yen)

Change

Six months ending Sep. 30, 2020

Year ending Mar. 31, 2021

900,000

(8.0)

50,000

(14.7)

1,000,000

2.2

60,000

2.3

Profit for the period attributable

%

Earnings per share, basic

to owners of the parent

Change

(yen)

(millions of yen)

Six months ending Sep. 30, 2020

Year ending Mar. 31, 2021

39,000

(15.2)

95.49

47,000

2.2

115.08

(Notes) Changes from the latest consolidated results forecast: None

  • Notes
  1. Changes in significant subsidiaries during the period (Changes in certain subsidiaries resulting in change in the scope of

consolidation): Yes

Anew:

1 company ABLIC Inc.

  1. Changes in accounting policies, or changes in accounting estimates
    1. Changes in accounting policies required by IFRS: None
    2. Changes in accounting policies other than 1: None
    3. Changes in accounting estimates: None
  2. Number of shares outstanding (Common stock)
    1. Number of shares outstanding at the end of each period (Including treasury stock)

As of June 30, 2020:

427,080,606 shares

As of March 31, 2020:

427,080,606 shares

2. Number of treasury shares at the end of each period

As of June 30, 2020:

18,676,611 shares

As of March 31, 2020:

18,676,128 shares

  • 3. Average number of shares (Quarterly cumulative period) Three months ended June 30, 2020: 408,404,225 shares Three months ended June 30, 2019: 415,131,317 shares

  • These quarterly financial results are not subject to quarterly review procedures by a certified public accountant or an audit corporation.
  • Explanation for appropriate use of financial forecasts and other special remarks

(Caution Concerning Forward-Looking Statements)

The aforementioned forecasts are based on the information available as of the date when this information is disclosed as well as on the assumptions as of the disclosing date of this information related to unpredictable parameters that will most likely affect our future business performance. As such, this is not intended for the Company to give assurance that the said forecast number would be achieved. In other words, our actual performances are likely to differ greatly from these estimates depending on a variety of factors that will take shape from now on. As for the assumptions used for these forecasts and other related items, please refer to ("1. Qualitative information related to the financial results for the quarter," "(4) Explanation of Consolidated Forecast and Other Forecasts") on page 6 of the documents attached hereunder. (Investor Briefing Materials for Analysts)

Investor briefing materials will be made available via our corporate website (https://www.minebeamitsumi.com/) on Tuesday, August 4, 2020.

- 2 -

Index

1. Qualitative information related to the financial results for the quarter.............................................

4

(1)

Explanation of Operating Results .................................................................................................

4

(2)

Explanation of Financial Position..................................................................................................

5

(3)

Impact of the new coronavirus.......................................................................................................

5

(4)

Explanation of Consolidated Forecast and Other Forecasts ..........................................................

6

2. Condensed Quarterly Consolidated Financial Statements and Major Notes......................................

7

(1)

Condensed Quarterly Consolidated Statements of Financial Position...........................................

7

(2)

Condensed Quarterly Consolidated Statements of Income

and Condensed Quarterly Consolidated Statements of Comprehensive Income ........................

9

Condensed Quarterly Consolidated Statements of Income............................................................

9

Condensed Quarterly Consolidated Statements of Comprehensive Income...................................

10

(3)

Condensed Quarterly Consolidated Statements of Changes in Equity..........................................

11

(4)

Condensed Quarterly Consolidated Statements of Cash Flows .....................................................

13

(5) Notes on Condensed Quarterly Consolidated Financial Statements .............................................

14

(Notes on Going Concern Assumptions).......................................................................................

14

(Segment Information).................................................................................................................

14

- 3 -

1. Qualitative information related to the financial results for the quarter

  1. Explanation of Operating Results
    During the first quarter of the fiscal year (April 1, 2020 through June 30, 2020), the Japanese economy was hit by the

largest economic downturn since the global financial crisis triggered by the Lehman Brothers bankruptcy. The factors behind this downturn include substantial declines in exports and consumption, especially of automobiles, resulting from the spread of COVID-19, declining corporate earnings, reduced capital investment, and the deteriorating employment environment. In the United States, aggressive monetary easing steps have been taken, but the global economic downswing caused by the spread of COVID-19 and trade friction with China have resulted in a substantial decrease in exports and capital investment. In Europe, the prolonged lockdown to prevent the spread of COVID-19 and other factors resulted in an economic downturn. In Asia, the economy remains sluggish as a result of slow recovery of the global economy, despite China's resumption of economic activity and auto sales recovery supported by the Chinese government's preferential treatment policies for automobile purchases.

Working against this backdrop, the MinebeaMitsumi Group concentrated on cutting costs, creating high-value-added products, developing new technologies, and enhancing its marketing approach to boost profitability further.

As a result, net sales were down 16,962 million yen (-8.3%) year on year to 187,463 million yen. Operating income was up 2,040 million yen (61.4%) year on year to 5,364 million yen, profit before income taxes was up 1,933 million yen (57.9%) to 5,274 million yen, and profit for the period attributable to owners of the parent was up 1,400 million yen

(64.4%) to 3,573 million yen.

ABLIC Inc. was made a subsidiary on April 30, 2020. The company has been included in the scope of consolidation in conjunction with the business integration. This includes the company's profits and losses from the date of the integration on.

Provisional accounting treatments for business combinations were finalized at the end of the previous fiscal year, and the contents of finalization of the provisional accounting treatments are reflected on the figures for the first quarter of the previous year.

Performance by segment was as follows:

The main products in our Machined components segment include our anchor product line, ball bearings, in addition to mechanical components such as rod-end bearings used primarily in aircraft and hard disk drive (HDD) pivot assemblies, etc. as well as fasteners for aircraft. Sales of ball bearings were down both in volume and amount due to decreased demand in the automobile market despite solid demand from fan motors. Rod-end bearing sales were down due to decreased aircraft-related demand. Pivot assembly sales were down both in volume and amount due to shrinking of the HDD market.

As a result, net sales were down 10,546 million yen (-22.9%) year on year to 35,507 million yen, and operating income was down 3,547 million yen (-33.2%) to 7,152 million yen.

The core products of our Electronic devices and components segment include electronic devices (devices such as LED backlights for LCDs, sensing devices (measuring components), etc.), HDD spindle motors, stepping motors, DC motors, air movers, and special devices. Demand for stepping motors and other motors was down due to sluggishness in the automobile market, but demand for our LED backlights for LCDs that offer a technological advantage in thin devices remained strong, resulting in an increase in sales.

As a result, net sales were up 2,036 million yen (2.6%) year on year to 79,675 million yen, and operating income was 2,189 million yen, an improvement of 2,766 million yen year on year.

The main products in the MITSUMI business segment are semiconductor devices, optical devices, mechanical components, high frequency components and power supply components. Camera actuators performed well as did game consoles and other mechanical components, resulting in an increase in net sales.

Profit and loss of ABLIC Inc. are included in the MITSUMI business segment in conjunction with its acquisition.

As a result, net sales were up 6,978 million yen (14.1%) year on year to 56,632 million yen, and operating income was up 1,354 million yen to 1,370 million yen.

The main products in the U-Shin business segment are key sets, door latches, door handles, and other automotive components as well as industrial components and housing equipment components (such as building and house locks). Sales of automotive components were down substantially due to deceleration of the automotive market as a result of the spread of COVID-19. Market deceleration also caused a decrease in sales of industrial components.

As a result, net sales were down 15,153 million yen (-49.3%) year on year to 15,581 million yen, and the operating loss increased 2,846 million yen year on year to total 2,169 million yen.

Machines produced in-house are the main products in our Other business segment. Net sales were down 277 million yen (-80.2%) year on year to 68 million yen, and the operating loss increased 60 million yen year on year to total 427 million yen.

In addition to the figures noted above, 2,751 million yen in corporate expenses, etc. not belonging to any particular segment is indicated as adjustments. The total amount of adjustments was 7,124 million yen for the first quarter of the previous fiscal year.

- 4 -

  1. Explanation of Financial Position

1. Assets, liabilities and equity

Our Group sees "strengthening our financial position" as a top priority and is taking various steps, such as efficient

controlling of capital investments, asset management, and reducing interest-bearing debt. We will reform our portfolio to increase the weight of our highly profitable core businesses and engage in highly effective M&A, promoting an appropriate and flexible financial strategy.

Total assets at the end of the first quarter were 940,009 million yen, up 75,528 million yen from the end of the previous fiscal year. The main reason for this uptick was an increase in inventories, goodwill, and property, plant and equipment.

Total liabilities at the end of the first quarter were 532,605 million yen, up 70,400 million yen from the end of the previous fiscal year. The main reason for this was bonds and borrowings and trade and other payables.

Equity came to 407,404 million yen, bringing the equity ratio attributable to owners of the parent down 2.6 percentage points from the end of the previous fiscal year to 43.0%.

2. Cash flows

Cash and cash equivalents at the end of the first quarter were 136,932 million yen, up 6,186 million yen from the end

of the previous fiscal year.

Cash flows from various business activities during the first three months of the fiscal year and relevant factors were as follows:

Net cash flows provided by operating activities came to 3,537 million yen (compared to 2,934 million yen in the same period of the previous year). This was primarily due to increases and decreases in profit before income taxes, depreciation and amortization, trade and other receivables, and inventories. Net cash flows used in investing activities came to 34,108 million yen (compared to 11,787 million yen in the same period of the previous year). This was primarily due to purchase of investments in subsidiaries resulting in change in scope of consolidation and purchase of property, plant and equipment, etc. Net cash flows provided by financing activities came to 35,962 million yen (compared to 10,112 million yen used in the same period of the previous year). This was primarily due to increases and decreases in short-term borrowings.

  1. Impact of the new coronavirus
    We have launched a task force headed by the CEO&COO to address the spread of COVID-19 within our Group. We

have also established a global committee to address the virus, rolled out measures from China to all plants and employees around the world, and established an epidemic prevention and control structure to ensure safe operations. In regions where there were instructions issued by the government to suspend operations, we explained the thorough measures taken to prevent infection in our Group, and were able to resume operations quickly.

(Main measures)

Thoroughly educating employees on public health, including the necessity of wearing masks, washing their hands, and not talking in the cafeteria

Clarifying and thoroughly implementing stay home orders for those feeling ill

Managing physical condition, including temperature checks of all employees, checking attendance, and keeping track of behavior histories at work utilizing social media (LINE and WeChat) and QR codes

Placing top priority on safe operations and working closely with local governments

Implementing proper inventory policies by business/product, managing overtime, and placing employees on furlough or adjusting working days

Utilizing staggered working hours, telework, web conferences, installing desk partitions, prohibiting domestic and overseas business trips, and voluntarily refraining from nonessential and nonurgent contact with outside parties

(Measures for stakeholders)

Began manufacturing masks for our roughly 100,000 employees and their families in house in April 2020 to fulfill our supply and corporate social responsibility and for the purpose of ensuring safe operations

Launched production and sales of high-quality masks for external sale in Japan in June 2020

Donated 220,000 N95 masks and other medical items stored for disaster relief to 150 medical institutions, government agencies, and other organizations

Placed priority on producing components used in medical devices for maintaining and contributing to the healthcare system

Signed the "IP Open Access Declaration Against COVID-19"

(Impact on operating results)

The spread of COVID-19 has had a broad impact on economic and corporate activities. The Group has also been impacted by the decrease in sales resulting from changes in the external environment and reduced plant operations resulting from restrictions on movement in each country. Operations are returning to normal in Asia, but we have lowered our operating ratio at facilities manufacturing products for commercial aircraft and automobiles, including those in Europe and the United States, in response to the shrinking market.

If the COVID-19 situation becomes prolonged, it could further impact the Group's operating results.

- 5 -

(Impact on production activities)

In the event that the virus spreads and restrictions on business activities and actions are tightened by government order, such restrictions may have a significant impact on our production and sales activities, including suspension of plant operations.

As of August 2020, the status of operations at our main production facilities is as follows (production ratio of the first quarter of fiscal year ended March 31, 2021 in parenthesis):

Region

Country

Status

Asia (74%)

China

Normal operations

Thailand

Almost normal operations

Cambodia

Normal operations

Philippines

Luzon: Almost normal operations

Cebu: Almost normal operations

Malaysia

Normal operations

Europe (6%)

Medical equipment/aircraft: Reduced operating ratio

Automobiles: Reduced operating ratio

North, Central

USA

Reduced operating ratio

and South

Mexico

Reduced operating ratio

America (5%)

Brazil

Reduced operating ratio

(4) Explanation of Consolidated Forecast and Other Forecasts

There is no change in the consolidated forecast for the year ended March 31, 2021, which was announced in the brief report on May 8, 2020.

(Amount: millions of yen)

Net sales

900,000

1,000,000

Operating income

50,000

60,000

Profit for the period attributable to owners of the parent

39,000

47,000

Sharing profits with our shareholders is job one at MinebeaMitsumi. That is why our basic dividend policy gives priority to enhancing equity efficiency and improving returns to our shareholders. Dividends, while reflecting performance, are determined in light of the overall business environment and with an eye to maintaining a stable and continuous distribution of profits.

Under this basic policy, we paid an interim dividend of 14 yen per share and a year-end dividend of 14 yen per share to make the annual dividend payout 28 yen per share in the previous fiscal year based on consolidated results. We plan to decide the specific amounts of the interim and year-end dividends this year with the aim of achieving a consolidated-basis dividend payout ratio of around 20%.

- 6 -

2. Condensed Quarterly Consolidated Financial Statements and Major Notes

  1. Condensed Quarterly Consolidated Statements of Financial Position

(Amount: millions of yen)

As of March 31, 2020

As of June 30, 2020

Assets

Current assets

Cash and cash equivalents ...............................

130,746

136,932

Trade and other receivables .............................

182,890

163,236

Inventories .......................................................

169,803

204,385

Other financial assets ......................................

18,057

18,998

Other current assets.........................................

14,375

21,982

..........................................Total current assets

515,871

545,533

Non-current assets

Property, plant and equipment.........................

275,064

292,954

Goodwill ...........................................................

18,626

43,576

Intangible assets ..............................................

13,798

14,265

Other financial assets ......................................

18,896

20,211

Deferred tax assets...........................................

18,008

19,118

Other non-current assets..................................

4,218

4,352

...................................Total non-current assets

348,610

394,476

Total assets..........................................................

864,481

940,009

- 7 -

(Amount: millions of yen)

As of March 31, 2020

As of June 30, 2020

Liabilities and equity

Liabilities

Current liabilities

Trade and other payables .................................

143,964

152,853

Bonds and borrowings......................................

95,268

145,843

Other financial liabilities .................................

6,984

9,302

Income taxes payable .......................................

2,905

4,764

Provisions.........................................................

4,353

4,310

Other current liabilities ...................................

42,209

38,530

.....................................Total current liabilities

295,683

355,602

Non-current liabilities

Bonds and borrowings......................................

126,444

134,113

Other financial liabilities .................................

13,639

15,978

Net defined benefit liabilities ...........................

22,482

23,126

Provisions.........................................................

579

560

Deferred tax liabilities .....................................

1,702

1,750

Other non-current liabilities ............................

1,676

1,476

..............................Total non-current liabilities

166,522

177,003

.....................................................Total liabilities

462,205

532,605

Equity

68,259

68,259

Common stock ..................................................

Capital surplus.................................................

134,707

139,339

Treasury stock..................................................

(34,455)

(34,456 )

Retained earnings ............................................

234,667

232,522

Other components of equity..............................

(8,806)

(1,551 )

Total equity attributable to owners of

394,372

404,113

the parent.......................................................

Non-controlling interests..................................

7,904

3,291

......................................................Total equity

402,276

407,404

Total liabilities and equity...................................

864,481

940,009

- 8 -

(2) Condensed Quarterly Consolidated Statements of Income

and Condensed Quarterly Consolidated Statements of Comprehensive Income (Condensed Quarterly Consolidated Statements of Income)

(Amount: millions of yen)

Three months ended

Three months ended

June 30, 2019

June 30, 2020

Net sales..............................................................

204,425

187,463

Cost of sales.........................................................

175,542

153,903

..........................................................Gross profit

28,883

33,560

Selling, general and administrative expenses .....

26,745

25,205

Other income...............................................................

1,697

1,263

Other expenses............................................................

511

4,254

........................................................Operating income

3,324

5,364

Finance income .........................................................

554

515

Finance expenses ......................................................

537

605

...........................................Profit before income taxes

3,341

5,274

Income taxes................................................................

831

1,658

................................................Profit for the period

2,510

3,616

Profit for the period attributable to:

2,173

3,573

Owners of the parent...............................................

Non-controlling interests.........................................

337

43

..................................................Profit for the period

2,510

3,616

Earnings per share (EPS)

Basic (Yen) ...............................................................

5.23

8.75

Diluted (Yen)............................................................

5.15

8.57

- 9 -

(Condensed Quarterly Consolidated Statements of Comprehensive Income)

(Amount: millions of yen)

Three months ended

Three months ended

June 30, 2019

June 30, 2020

Profit for the period..................................................

2,510

3,616

Other comprehensive income

Components of other comprehensive income

that will not be reclassified to profit or loss,

net of tax:

Net changes in revaluation of equity

instruments measured at fair value

through other comprehensive income..........

(443)

885

Sub-total

(443)

885

Components of other comprehensive income

that will be reclassified to profit or loss, net

of tax:

Foreign exchange differences on translation

of foreign operations .....................................

(8,506)

5,179

Cash flow hedges ............................................

15

1,167

Sub-total

(8,491)

6,346

............Other comprehensive income, net of tax

(8,934)

7,231

.....................Comprehensive income for the period

(6,424)

10,847

Comprehensive income attributable to:

Owners of the parent............................................

(6,457)

10,828

Non-controlling interests...........................................

33

19

....................Comprehensive income for the period

(6,424)

10,847

- 10 -

(3) Condensed Quarterly Consolidated Statements of Changes in Equity

(Amount: millions of yen)

Equity attributable to owners of the parent

Common

Capital

Treasury

Retained

Other components of equity

Foreign currency

Cash flow

stock

surplus

stock

earnings

translation

hedge

Balance as of April 1, 2019

68,259

137,464

(19,448)

202,172

8,387

(76)

Profit for the period

2,173

Other comprehensive income

(8,202)

15

Comprehensive income for

2,173

(8,202)

15

the period

Purchase of treasury stock

(1)

Dividends

(5,812)

Increase of consolidated

subsidiaries

Transfer to retained earnings

29

Total transactions with

(1)

(5,783)

owners

Balance as of June 30, 2019

68,259

137,464

(19,449)

198,562

185

(61)

Equity attributable to owners of the parent

Other components of equity

Net changes in

Non-

Total

revaluation of equity

controlling

Total

equity

instruments measured

Subtotal

interests

at fair value through

other comprehensive

income

Balance as of April 1, 2019

2,945

11,256

399,703

7,557

407,260

Profit for the period

2,173

337

2,510

Other comprehensive income

(443)

(8,630)

(8,630)

(304)

(8,934)

Comprehensive income for

(443)

(8,630)

(6,457)

33

(6,424)

the period

Purchase of treasury stock

(1)

(1)

Dividends

(5,812)

(5,812)

Increase of consolidated

4,904

4,904

subsidiaries

Transfer to retained earnings

(29)

(29)

Total transactions with

(29)

(29)

(5,813)

4,904

(909)

owners

Balance as of June 30, 2019

2,473

2,597

387,433

12,494

399,927

- 11 -

(Amount: millions of yen)

Equity attributable to owners of the parent

Common

Capital

Treasury

Retained

Other components of equity

Foreign currency

Cash flow

stock

surplus

stock

earnings

translation

hedge

Balance as of April 1, 2020

68,259

134,707

(34,455)

234,667

(8,807)

(1,007)

Profit for the period

3,573

Other comprehensive

5,204

1,167

income

Comprehensive income

3,573

5,204

1,167

for the period

Purchase of treasury stock

(1)

Disposal of treasury stock

0

0

Dividends

(5,718)

Transactions with

4,632

non-controlling interests

Total transactions with

4,632

(1)

(5,718)

owners

Balance as of June 30, 2020

68,259

139,339

(34,456)

232,522

(3,603)

160

Equity attributable to owners of the parent

Other components of equity

Net changes in

Non-

Total

revaluation of equity

controlling

Total

equity

instruments measured

Subtotal

interests

at fair value through

other comprehensive

income

Balance as of April 1, 2020

1,008

(8,806)

394,372

7,904

402,276

Profit for the period

3,573

43

3,616

Other comprehensive

884

7,255

7,255

(24)

7,231

income

Comprehensive income

884

7,255

10,828

19

10,847

for the period

Purchase of treasury stock

(1)

(1)

Disposal of treasury stock

0

0

Dividends

(5,718)

(5,718)

Transactions with

4,632

(4,632)

non-controlling interests

Total transactions with

(1,087)

(4,632)

(5,719)

owners

Balance as of June 30, 2020

1,892

(1,551)

404,113

3,291

407,404

- 12 -

(4) Condensed Quarterly Consolidated Statements of Cash Flows

(Amount: millions of yen)

Three months ended

Three months ended

June 30, 2019

June 30, 2020

Cash flows from operating activities:

Profit before income taxes ........................................................

3,341

5,274

Depreciation and amortization.................................................

10,966

11,760

Interest income and dividends income .....................................

(495)

(409)

Interest expenses .....................................................................

401

390

Loss (gain) on sale and disposal of property, plant and

equipment ................................................................................

(641)

(287)

Decrease (increase) in trade and other receivables...................

8,810

24,140

Decrease (increase) in inventories............................................

(18,169)

(26,568)

Increase (decrease) in trade and other payables.......................

(2,119)

(6,772)

Other........................................................................................

3,935

(3,042)

Subtotal

6,029

4,486

Interest received.......................................................................

325

266

Dividends received ...................................................................

156

152

Interest paid.............................................................................

(310)

(371)

Income taxes paid.....................................................................

(3,266)

(996)

Net cash flows provided by operating activities

2,934

3,537

Cash flows from investing activities:

Decrease (increase) in time deposits.........................................

(150)

(744)

Purchase of property, plant and equipment ..................................

(12,754)

(10,985)

Proceeds from sales of property, plant and equipment ...................

1,035

639

Purchase of intangible assets.......................................................

(256)

(367)

Purchase of securities .................................................................

(515)

(330)

Proceeds from sale and redemption of securities.........................

556

288

Proceeds from purchase of investments in subsidiaries resulting in

change in scope of consolidation..................................................

47

Purchase of investments in subsidiaries resulting in change in

(22,686)

scope of consolidation.................................................................

Other........................................................................................

250

77

Net cash flows used in investing activities

(11,787)

(34,108)

Cash flows from financing activities:

Increase (decrease) in short-term borrowings ..........................

6,163

48,239

Repayments of long-term borrowings.......................................

(9,819)

(837)

Acquisition of non-controlling interests....................................

(4,620)

Purchase of treasury stock..........................................................

(1)

(1)

Dividends paid .........................................................................

(5,812)

(5,718)

Repayments of lease liabilities .................................................

(643)

(1,101)

Other........................................................................................

0

Net cash flows used in financing activities

(10,112)

35,962

Effect of exchange rate changes on cash and cash equivalents

(2,519)

795

Increase (decrease) in cash and cash equivalents

(21,484)

6,186

Cash and cash equivalents at beginning of period

122,432

130,746

Cash and cash equivalents at end of period

100,948

136,932

- 13 -

  1. Notes on Condensed Quarterly Consolidated Financial Statements (Notes on Going Concern Assumptions)
    Not applicable.

(Segment Information)

Information related to sales and income (loss) by reportable segments

(Amount: millions of yen)

(Three months ended June 30, 2019)

Reportable segment

Machined

Electronic

MITSUMI

U-Shin

Other

Adjustments

Consolidated

devices and

*1

*2

components

business

business

components

Net sales

Net sales to

customers

46,053

77,639

49,654

30,734

345

204,425

Net sales to other

1,339

1,549

689

837

(4,414)

segment

Total

47,392

79,188

50,343

30,734

1,182

(4,414)

204,425

Segment profit (loss)

10,699

(577)

16

677

(367)

(7,124)

3,324

Finance income

554

Finance expenses

537

Profit before income

3,341

taxes

(Three months ended June 30, 2020)

(Amount: millions of yen)

Reportable segment

Machined

Electronic

MITSUMI

U-Shin

Other

Adjustments

Consolidated

devices and

*1

*2

components

business

business

components

Net sales

Net sales to

customers

35,507

79,675

56,632

15,581

68

187,463

Net sales to other

1,166

1,390

432

394

(3,382)

segment

Total

36,673

81,065

57,064

15,581

462

(3,382)

187,463

Segment profit (loss)

7,152

2,189

1,370

(2,169)

(427)

(2,751)

5,364

Finance income

515

Finance expenses

605

Profit before income

5,274

taxes

(Notes) *1. The classification of "Other" refers to business units not included in the reportable segments. Their products are mainly machines made in-house.

*2. The amount of the adjustment is as follows.

Adjustments to segment profit (loss) are corporate expenses such as general and administrative expenses in addition to research and development expenses that do not belong to the reportable segments. Retirement benefit expenses of 2,790 million yen is included as a result of the revision of the Labor Protection Act in Thailand for the first quarter of the previous year.

*3. Provisional accounting treatments for business combinations were finalized at the end of the previous fiscal year, and the contents of finalization of the provisional accounting treatments are reflected on the figures for the first quarter of the previous year.

- 14 -

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Minebea Mitsumi Inc. published this content on 04 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2020 06:06:21 UTC