Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €22.60, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 12x in the Machinery industry in Germany. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €29.51 per share. Buy Or Sell Opportunity • Jun 10
Now 21% undervalued Over the last 90 days, the stock has risen 56% to €23.80. The fair value is estimated to be €30.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 3.5%. For the next 3 years, revenue is forecast to grow by 2.4% per annum. Earnings are also forecast to grow by 1.4% per annum over the same time period. Board Change • May 21
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Lead Independent Outside Director Yuko Miyazaki was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Feb 06
MINEBEA MITSUMI Inc. to Report Fiscal Year 2026 Results on May 12, 2026 MINEBEA MITSUMI Inc. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 12, 2026 Annonce • Jul 30
MINEBEA MITSUMI Inc. to Report Q2, 2026 Results on Nov 06, 2025 MINEBEA MITSUMI Inc. announced that they will report Q2, 2026 results on Nov 06, 2025 Annonce • May 31
MINEBEA MITSUMI Inc. to Report Q1, 2026 Results on Aug 05, 2025 MINEBEA MITSUMI Inc. announced that they will report Q1, 2026 results on Aug 05, 2025 Annonce • May 09
MINEBEA MITSUMI Inc., Annual General Meeting, Jun 27, 2025 MINEBEA MITSUMI Inc., Annual General Meeting, Jun 27, 2025. Annonce • Apr 11
MINEBEA MITSUMI Inc. (TSE:6479) enetered into letter of intent to acquire Shibaura Electronics Co.,Ltd. (TSE:6957) from a group of shareholders for ¥67.6 billion. MINEBEA MITSUMI Inc. (TSE:6479) enetered into letter of intent to acquire Shibaura Electronics Co.,Ltd. (TSE:6957) from a group of shareholders for ¥67.6 billion on February 17, 2025. A cash consideration will be paid by MINEBEA MITSUMI Inc. As part of consideration, an undisclosed value is paid towards common equity of Shibaura Electronics Co.,Ltd. MINEBEA MITSUMI Inc. also plans to complete Squeeze Out Process in order to acquire all shares of Shibaura Electronics Co.,Ltd. The transaction is subject to minimum tender. The transaction is expected to close on May 27, 2025. Nomura Securities Co., Ltd. and YAMADA Business Consulting Co.,Ltd. acted as financial advisors, and Kitahama Partners acted as legal advisor to Shibaura Electronics Co.,Ltd. Daiwa Securities Co. Ltd. acted as financial advisor and Nagashima Ohno & Tsunematsu acted as legal advisor to MINEBEA MITSUMI Inc. Annonce • Dec 27
MINEBEA MITSUMI Inc. Promotes Shinji Shirakata to Managing Executive Officer, Effective as of January 2, 2025 MINEBEA MITSUMI Inc. announces the following Executive change decided at the Board of Directors Meeting held on December 25, 2024. Shinji Shirakata is Promoted from Executive Officer to Managing Executive Officer. Personnel change is effective as of January 2, 2025. Reported Earnings • Nov 07
Second quarter 2025 earnings released: EPS: JP¥30.00 (vs JP¥39.28 in 2Q 2024) Second quarter 2025 results: EPS: JP¥30.00 (down from JP¥39.28 in 2Q 2024). Revenue: JP¥422.8b (up 11% from 2Q 2024). Net income: JP¥12.1b (down 24% from 2Q 2024). Profit margin: 2.9% (down from 4.2% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Annonce • Nov 06
MINEBEA MITSUMI Inc. to Report Q3, 2025 Results on Feb 05, 2025 MINEBEA MITSUMI Inc. announced that they will report Q3, 2025 results on Feb 05, 2025 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 29 November 2024. Payout ratio is a comfortable 25% and the cash payout ratio is 94%. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.5%). New Risk • Aug 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 04
First quarter 2025 earnings released: EPS: JP¥34.46 (vs JP¥8.92 in 1Q 2024) First quarter 2025 results: EPS: JP¥34.46 (up from JP¥8.92 in 1Q 2024). Revenue: JP¥355.5b (up 22% from 1Q 2024). Net income: JP¥13.9b (up 283% from 1Q 2024). Profit margin: 3.9% (up from 1.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Annonce • Aug 02
MINEBEA MITSUMI Inc. to Report Q2, 2025 Results on Nov 06, 2024 MINEBEA MITSUMI Inc. announced that they will report Q2, 2025 results on Nov 06, 2024 Declared Dividend • Jul 17
Final dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 27th September 2024 Payment date: 29th November 2024 Dividend yield will be 97%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (30% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.5% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥133 (vs JP¥188 in FY 2023) Full year 2024 results: EPS: JP¥133 (down from JP¥188 in FY 2023). Revenue: JP¥1.40t (up 8.5% from FY 2023). Net income: JP¥54.0b (down 30% from FY 2023). Profit margin: 3.9% (down from 6.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • May 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.9% Last year net profit margin: 6.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Annonce • May 03
MINEBEA MITSUMI Inc. (TSE:6479) completed the acquisition of Hitachi Power Semiconductor Device, Ltd. And Overseas Sales Business from Hitachi, Ltd. (TSE:6501). MINEBEA MITSUMI Inc. (TSE:6479) entered into a share purchase agreement to acquire Hitachi Power Semiconductor Device, Ltd. And Overseas Sales Business from Hitachi, Ltd. (TSE:6501) on November 2, 2023. BofA Securities Japan Co., Ltd. acted as financial advisor to Hitachi, Ltd.
MINEBEA MITSUMI Inc. (TSE:6479) completed the acquisition of Hitachi Power Semiconductor Device, Ltd. And Overseas Sales Business from Hitachi, Ltd. (TSE:6501) on May 2, 2024. Buy Or Sell Opportunity • Apr 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.0% to €17.40. The fair value is estimated to be €21.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Buy Or Sell Opportunity • Apr 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.7% to €17.70. The fair value is estimated to be €22.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 24% and the cash payout ratio is 83%. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (3.2%). Buy Or Sell Opportunity • Mar 14
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €18.00. The fair value is estimated to be €22.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Buy Or Sell Opportunity • Feb 11
Now 20% undervalued Over the last 90 days, the stock has risen 14% to €18.20. The fair value is estimated to be €22.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Annonce • Feb 04
MINEBEA MITSUMI Inc. to Report Fiscal Year 2024 Results on May 10, 2024 MINEBEA MITSUMI Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 04
Third quarter 2024 earnings released: EPS: JP¥36.60 (vs JP¥31.87 in 3Q 2023) Third quarter 2024 results: EPS: JP¥36.60 (up from JP¥31.87 in 3Q 2023). Revenue: JP¥381.2b (up 2.6% from 3Q 2023). Net income: JP¥14.8b (up 13% from 3Q 2023). Profit margin: 3.9% (up from 3.5% in 3Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Annonce • Feb 02
MINEBEA MITSUMI Inc. Revises Dividend Forecast for the Fiscal Year Ending March 31, 2024 MINEBEA MITSUMI Inc. revised dividend forecast for the fiscal year ending March 31, 2024. For the year, company expects to pay dividend of JPY 20.00 per share against JPY 20.00 per share paid an year ago. New Risk • Nov 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 52% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Annonce • Nov 04
MINEBEA MITSUMI Inc. (TSE:6479) entered into a share purchase agreement to acquire Hitachi Power Semiconductor Device, Ltd. And Overseas Sales Business from Hitachi, Ltd. (TSE:6501). MINEBEA MITSUMI Inc. (TSE:6479) entered into a share purchase agreement to acquire Hitachi Power Semiconductor Device, Ltd. And Overseas Sales Business from Hitachi, Ltd. (TSE:6501) on November 2, 2023. Annonce • Nov 03
MINEBEA MITSUMI Inc. to Report Q3, 2024 Results on Feb 02, 2024 MINEBEA MITSUMI Inc. announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 03
Second quarter 2024 earnings released: EPS: JP¥39.17 (vs JP¥48.62 in 2Q 2023) Second quarter 2024 results: EPS: JP¥39.17 (down from JP¥48.62 in 2Q 2023). Revenue: JP¥379.7b (up 15% from 2Q 2023). Net income: JP¥16.0b (down 20% from 2Q 2023). Profit margin: 4.2% (down from 6.1% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Annonce • Nov 02
MINEBEA MITSUMI Inc. Announces Dividends from Surplus (Interim Dividend), Effective November 29, 2023 MINEBEA MITSUMI Inc. announced dividends from surplus (interim dividend) of JPY 20.00 same as JPY 20.00 paid a year ago with a date of record of September 30, 2023. Effective date: November 29, 2023. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 1.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 29 November 2023. Payout ratio is a comfortable 24% but the company is paying out more than the cash it is generating. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.8%). New Risk • Aug 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 47% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (182% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Aug 06
First quarter 2024 earnings released: EPS: JP¥8.97 (vs JP¥26.43 in 1Q 2023) First quarter 2024 results: EPS: JP¥8.97 (down from JP¥26.43 in 1Q 2023). Revenue: JP¥292.4b (up 17% from 1Q 2023). Net income: JP¥3.66b (down 66% from 1Q 2023). Profit margin: 1.3% (down from 4.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annonce • Aug 05
MINEBEA MITSUMI Inc. to Report Q2, 2024 Results on Nov 02, 2023 MINEBEA MITSUMI Inc. announced that they will report Q2, 2024 results on Nov 02, 2023 Annonce • Jul 18
United States District Court for the Eastern District of Michigan Southern Division Approves the Announcement Concerning Proposed Distribution Plan for the Proceeds of $9.75 Million Settlement with the Minebea Defendants Freed Kanner London & Millen LLC; Kohn, Swift & Graf, P.C.; Preti, Flaherty, Beliveau & Pachios, LLP; Spector Roseman & Kodroff, P.C.; Cera LLP; and Cohen Milstein Sellers & Toll PLLC announced that the United States District Court for the Eastern District of Michigan Southern Division ("Court") has approved the announcement concerning a proposed distribution plan for the proceeds of a $9.75 million settlement with the Minebea Defendants ("Minebea Settlement Fund") in a price fixing class action lawsuit relating to small bearings. The settlement resolved allegations against the Minebea Defendants that they conspired to suppress and eliminate competition for Small Bearings by agreeing to raise, fix, maintain, and/or stabilize prices, rig bids, and allocate markets and customers for Small Bearings sold in the United States, in violation of federal antitrust laws. Small Bearings refers to bearings whose outer diameter is 30 millimeters or less. The settlement affects those who purchased small bearings in the United States between June 1, 2003 and February 15, 2017 directly from MINEBEA MITSUMI Inc., NMB (USA), Inc., NMB Technologies Corporation, NSK Ltd., NSK Americas, Inc., or NSK Corporation. A hearing will be held on October 12, 2023, at 2:00 p.m., before the Honorable Sean F. Cox, United States District Judge, for the purpose of determining whether to approve: (1) the proposed plan of distribution of the Minebea Settlement Fund; (2) Settlement Class Counsel's request for an award from the Minebea settlement proceeds of attorneys' fees and litigation costs and expenses; and (3) a service award for the Class Representative. Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥188 (vs JP¥170 in FY 2022) Full year 2023 results: EPS: JP¥188 (up from JP¥170 in FY 2022). Revenue: JP¥1.29t (up 15% from FY 2022). Net income: JP¥77.0b (up 12% from FY 2022). Profit margin: 6.0% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annonce • May 12
MINEBEA MITSUMI Inc. to Report Q1, 2024 Results on Aug 04, 2023 MINEBEA MITSUMI Inc. announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: JP¥31.87 (vs JP¥45.42 in 3Q 2022) Third quarter 2023 results: EPS: JP¥31.87 (down from JP¥45.42 in 3Q 2022). Revenue: JP¥371.4b (up 22% from 3Q 2022). Net income: JP¥13.1b (down 28% from 3Q 2022). Profit margin: 3.5% (down from 6.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annonce • Feb 03
Minebea Mitsumi Inc. Revises Consolidated Forecast for the Fiscal Year Ending March 31, 2023 MINEBEA MITSUMI Inc. revised consolidated forecast for the fiscal year ending March 31, 2023. For the year, company expects Net sales of JPY 1,300,000 million compared to JPY 1,250,000 million, Operating income of JPY 100,000 million compared to JPY 115,000 million, Profit for the period attributable to owners of the parent of JPY 71,000 million compared to JPY 85,000 million and Earnings per share, basic to be JPY 172.76. Annonce • Jan 28
MINEBEA MITSUMI Inc (TSE:6479) completed the acquisition of Honda Lock Mfg. Co., Ltd. from Honda Motor Co., Ltd. (TSE:7267). MINEBEA MITSUMI Inc. (TSE:6479) entered into a share transfer agreement to acquire Honda Lock Mfg. Co., Ltd. from Honda Motor Co., Ltd. (TSE:7267) on August 4, 2022. MINEBEA MITSUMI Inc. will acquire 1.643 million shares of Honda Lock Mfg. Co., Ltd. For the year ending March 31, 2022, Honda Lock Mfg. Co., Ltd. reported revenue of ¥93.54 billion, net income of ¥834 million and EBIT of ¥2.13 billion. The transaction is subject to regulatory approvals and is expected to complete by end of 2022.
MINEBEA MITSUMI Inc. (TSE:6479) completed the acquisition of Honda Lock Mfg. Co., Ltd. from Honda Motor Co., Ltd. (TSE:7267) on January 27, 2023. Honda Lock has changed its name to Minebea Access Solutions Inc. Buying Opportunity • Jan 17
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €18.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is also forecast to grow by 8.4% per annum over the same time period. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Outside Director Yuko Miyazaki was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 03
Second quarter 2023 earnings released: EPS: JP¥48.62 (vs JP¥50.36 in 2Q 2022) Second quarter 2023 results: EPS: JP¥48.62 (down from JP¥50.36 in 2Q 2022). Revenue: JP¥330.0b (up 17% from 2Q 2022). Net income: JP¥20.1b (down 1.6% from 2Q 2022). Profit margin: 6.1% (down from 7.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annonce • Nov 03
MINEBEA MITSUMI Inc. to Report Q3, 2023 Results on Feb 03, 2023 MINEBEA MITSUMI Inc. announced that they will report Q3, 2023 results on Feb 03, 2023 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 29 November 2022. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (3.2%). Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥26.43 (vs JP¥36.11 in 1Q 2022) First quarter 2023 results: EPS: JP¥26.43 (down from JP¥36.11 in 1Q 2022). Revenue: JP¥251.0b (up 1.1% from 1Q 2022). Net income: JP¥10.7b (down 27% from 1Q 2022). Profit margin: 4.3% (down from 5.9% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.0%, compared to a 9.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • May 13
Full year 2022 earnings released: EPS: JP¥170 (vs JP¥94.95 in FY 2021) Full year 2022 results: EPS: JP¥170 (up from JP¥94.95 in FY 2021). Revenue: JP¥1.12t (up 14% from FY 2021). Net income: JP¥68.9b (up 78% from FY 2021). Profit margin: 6.1% (up from 3.9% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 3.7%, compared to a 9.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 8% per year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Director Hirofumi Katase was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Apr 08
MinebeaMitsumi Inc. to Report Fiscal Year 2022 Results on May 11, 2022 MinebeaMitsumi Inc. announced that they will report fiscal year 2022 results on May 11, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (1.9%). Reported Earnings • Feb 06
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥45.42 (up from JP¥39.60 in 3Q 2021). Revenue: JP¥304.3b (up 10% from 3Q 2021). Net income: JP¥18.4b (up 14% from 3Q 2021). Profit margin: 6.0% (up from 5.9% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 3.3%, compared to a 10.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Nov 06
Second quarter 2022 earnings released: EPS JP¥50.36 (vs JP¥32.42 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥282.0b (up 2.8% from 2Q 2021). Net income: JP¥20.4b (up 54% from 2Q 2021). Profit margin: 7.2% (up from 4.8% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (1.0%). Annonce • Aug 11
Okamoto Glass Co., Ltd. (JASDAQ:7746) agreed to acquire an additional 75.43% stake in JAPAN 3D DEVICES Co., Ltd. from MinebeaMitsumi Inc. (TSE:6479) for approximately ¥510 million. Okamoto Glass Co., Ltd. (JASDAQ:7746) agreed to acquire an additional 75.43% stake in JAPAN 3D DEVICES Co., Ltd. from MinebeaMitsumi Inc. (TSE:6479) for approximately ¥510 million on August 4, 2021. JAPAN 3D DEVICES Co., Ltd. reported sales of ¥37 million, total assets of ¥1.057 billion, ordinary profit of ¥442 million, net income of ¥384 million and net assets of ¥935 million as of March 31, 2021. The transaction is expected to close on August 16, 2021. Annonce • Aug 06
MinebeaMitsumi Inc. Revises Consolidated Earnings Guidance for the Six Months Ending September 30, 2021 and Full Year Ending March 31, 2022 MinebeaMitsumi Inc. revised consolidated earnings guidance for the six months ending September 30, 2021 and full year ending March 31, 2022. For the six months, the company expects net sales of ¥537,000 million, operating income of ¥45,000 million and profit for the period attributable to owners of the parent of ¥34,500 million and basic earnings per share of ¥84.99 against previous guidance of net sales of ¥487,000 million, operating income of ¥38,000 million and profit for the period attributable to owners of the parent of ¥30,500 million and basic earnings per share of ¥75.00.
For the year, the company expects net sales of ¥1,050,000 million, operating income of ¥87,000 million and profit for the period attributable to owners of the parent of ¥68,000 million and basic earnings per share of ¥167.52 against previous guidance of net sales of ¥1,000,000 million, operating income of ¥80,000 million and profit for the period attributable to owners of the parent of ¥64,000 million and basic earnings per share of ¥157.38. Annonce • Aug 05
MinebeaMitsumi Inc. (TSE:6479) announces an Equity Buyback for 3,000,000 shares, representing 0.74% for ¥10,000 million. MinebeaMitsumi Inc. (TSE:6479) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 common shares, representing 0.74% of its issued and outstanding shares, for total worth of ¥10,000 million. The purpose of the plan is to improve return on shareholders and improve capital efficiency and to implement agile capital policy according to the business environment. The plan will be valid up to October 29, 2021. As of June 30, 2021, the company had 406,025,921 shares issued and outstanding and 21,054,685 shares in its treasury. Reported Earnings • Aug 05
First quarter 2022 earnings released: EPS JP¥36.11 (vs JP¥8.75 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥248.3b (up 33% from 1Q 2021). Net income: JP¥14.7b (up 310% from 1Q 2021). Profit margin: 5.9% (up from 1.9% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • May 08
Full year 2021 earnings released: EPS JP¥94.95 (vs JP¥111 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: JP¥988.4b (up 1.0% from FY 2020). Net income: JP¥38.8b (down 16% from FY 2020). Profit margin: 3.9% (down from 4.7% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Annonce • May 08
MinebeaMitsumi Inc. Provides Earnings Guidance for the Six Months Ending September 30, 2021 and Year Ending March 31, 2022 MinebeaMitsumi Inc. provided earnings guidance for the six months ending September 30, 2021 and year ending March 31, 2022. For the six months, the company expects net sales to be JPY 487,000 million, operating income to be JPY 38,000 million, profit for the period attributable to owners of the parent to be JPY 30,500 million and basic earnings per share to be JPY 75.
For the year, the company expects net sales to be JPY 1,000,000 million, operating income to be JPY 80,000 million, profit for the period attributable to owners of the parent to be JPY 64,000 million and basic earnings per share to be JPY 157.38. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 03 June 2021. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (1.2%). Is New 90 Day High Low • Mar 16
New 90-day high: €21.60 The company is up 21% from a price of €17.80 on 16 December 2020. Outperformed the German market which is up 9.0% over the last 90 days. Exceeded the Machinery industry, which is up 6.0% over the same period. Simply Wall St's valuation model estimates the intrinsic value at €19.52 per share. Annonce • Feb 17
MinebeaMitsumi Inc. to Report Fiscal Year 2021 Results on May 07, 2021 MinebeaMitsumi Inc. announced that they will report fiscal year 2021 results on May 07, 2021 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥21.40, the stock is trading at a trailing P/E ratio of 25.1x, up from the previous P/E ratio of 21.3x. This compares to an average P/E of 37x in the Machinery industry in Germany. Total returns to shareholders over the past three years are 19%. Is New 90 Day High Low • Feb 08
New 90-day high: €19.70 The company is up 31% from its price of €15.00 on 10 November 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.14 per share. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥39.60 (vs JP¥45.77 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥275.7b (up 3.0% from 3Q 2020). Net income: JP¥16.2b (down 15% from 3Q 2020). Profit margin: 5.9% (down from 7.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 07
Revenue beats expectations Revenue exceeded analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 2.4%, compared to a 5.0% growth forecast for the Machinery industry in Germany. Annonce • Feb 05
MinebeaMitsumi Inc. Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2021 MinebeaMitsumi Inc. revised consolidated earnings guidance for the fiscal year ending March 31, 2021. For the period, the company expects net sales of JPY 980,000 million compared to previous guidance of JPY 940,000 million. Operating income is expected to be JPY 58,000 million compared to previous guidance of JPY 50,000 million. Profit for the period attributable to owners of the parent is expected to be JPY 45,000 million compared to previous guidance of JPY 39,000 million. Basic earnings per share is expected to be JPY 110.19. Is New 90 Day High Low • Jan 22
New 90-day high: €18.50 The company is up 18% from its price of €15.70 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.92 per share. Annonce • Jan 16
MinebeaMitsumi Inc. Installs Solar Power Generation Systems At Two Major Plants in Thailand MinebeaMitsumi Inc. has installed solar power generation systems made by Sharp Energy Solutions Corporation on the roofs of two production sites, the Bang Pa-in plant (Ayutthaya Prefecture) and the Lopburi plant (Lopburi Prefecture), in Thailand. This will reduce annual CO2 emissions by approximately 4,000 tons and reduce electricity costs by approximately THB 25.5 million. The Thai Operations is an important base that accounts for more than 30% of the global production. Is New 90 Day High Low • Dec 16
New 90-day high: €17.80 The company is up 11% from its price of €16.00 on 17 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.78 per share. Annonce • Dec 03
MinebeaMitsumi Inc. to Report Q3, 2021 Results on Feb 05, 2021 MinebeaMitsumi Inc. announced that they will report Q3, 2021 results on Feb 05, 2021 