To Our Shareholders - MinebeaMitsumi · 2009. 6. 23. · ulus packages, it is expected that the...

Minebea Co., Ltd.

Securities Code 6479

To Our Shareholders63rd Business Year Business Report April 1, 2008 March 31, 2009

▲

1

Greetings from the President

As the 63rd Business Year (April 1, 2008-March31, 2009) has ended, we would like to report outbusiness summary.

■Overview of the yearDuring the current consolidated fiscal year, the Japanese economy slid into itsworst-ever recession. This was due to increases in the prices of crude oil andraw materials during the first half of the year, followed by the Japanese econo-my rapidly deteriorating principally due to a rapid deterioration of the globaleconomy in the second half of the year resulting from the worldwide spread ofthe financial crisis originating in the United States, a significant decline inexports due to the continued appreciation of the yen, and significant decreasesin capital investment and personal consumption. The U.S. economy substan-tially declined in the second half of the year causing severe turmoil mainlyowing to significantly worsened earnings in the automotive industry and otherindustries, and deterioration in employment and personal consumption amidthe expansion of the financial crisis and deepening adjustments in the housingmarket. The European economy also faced the advance of a rapid economicslowdown. In Asia, the Chinese economy’s past high growth tendencies beganto decline and there was also evidence in other Asian countries that theeconomies generally decelerated principally owing to a slowdown in exportsresulting from the worsened U.S. economy and deterioration of the financialcondition.Under these management circumstances, in order to further increase earn-ings, we made an aggressive effort to implement sweeping cost reductionmeasures, develop new technologies and high value-added products, promotesales expansion activities and carry out M&A (business acquisitions and merg-ers) for the purpose of business extension. However, sales fell mainly due to arapid deterioration in market conditions seen in the second half of the yearalongside the effects of customers’ inventory adjustments and currency fluctu-ations (the appreciation of the yen). Earnings continued to be severe due tothe fluctuations of Asian currencies and soaring raw material prices seen in thefirst half of the year as well as major production cutbacks carried out in aneffort to make up for the slowing sales observed in the second half of the year.As a result, net sales decreased ¥78,267 million (-23.4%) year on year, to¥256,163 million and operating income also fell to ¥13,406 million, a decline of¥17,356 million (-56.4%) year on year. Ordinary income declined to ¥11,555million, a decrease of ¥16,136 million (-58.3%) year on year. In addition, net

income also fell ¥13,861 million (-85.0%) year on year to ¥2,441 million.

■Basic policy for profit sharingBy considering our management condition from a comprehensive standpointand maintaining stable profit sharing on an ongoing basis, our basic policy is toprovide improved equity capital efficiency and better profit sharing to share-holders first aiming for profit distribution to shareholders at levels reflectingoperating results.Under our basic policy described above, reflecting a considerable drop in busi-ness performance due to the deteriorated economic environment, we regretful-ly announce that the year-end dividend for the current fiscal year will be ¥2 pershare. As we have already paid an interim dividend of ¥5 per share, the annualdividend will amount to ¥7 per share.Regarding the dividends for the next fiscal year, despite great uncertaintiesabout future developments, we plan to pay an interim dividend of ¥3 per shareand a year-end dividend of ¥4 per share, making the annual dividend ¥7 pershare, which is the same amount of dividend as we shall pay for the currentyear.

■Outlook for the next fiscal yearAs the world economy continues in recession, we expect that the Japaneseeconomy will slow in the first half of the year, owing to weak corporate earn-ings as well as decreases in employment and personal consumption stemmingfrom continuously decreased exports, the current rise of the yen and sluggishsales. However, in the second half of the year, the economy is expected toembark upon a moderate recovery trend with improved exports in line withrecovery of the U.S. economy. In Asia, we expect that the Chinese economy willrecover. Meanwhile, in the U.S., recession might become aggravated over alonger period of time due mainly to the protracted adjustments in corporate pro-duction, inventory and employment, as well as the slowdown of personal con-sumption stemming from the degradation of financial conditions. However, trig-gered mainly by the financial reconstruction plans and large-scale financial stim-ulus packages, it is expected that the economy will gradually be heading towardrecovery in the second half of the year.Under these circumstances, we are predicting our sales and profits with broadupper and lower limits due to the difficulty we are facing in predicting accurateresults. As we expect a decline in sales is unavoidable due to the severe glob-al economic circumstances, we expect sales of roughly ¥200,000 million to¥230,000 million, operating income of ¥10,000 million to ¥14,000 million, ordi-nary income of ¥7,600 million to ¥11,300 million and net income of ¥3,500 mil-

■ Net Sales

FY2007 FY2008 FY2009

(Unit: millions of yen) Non-Consolidated Consolidated

■ Operating Income

FY2007 FY2008 FY2009


■ Ordinary Income

FY2007 FY2008 FY2009


0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

0

5,000

10,000

15,000

20,000

25,000

30,000

-5,000

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2

lion to ¥6,500 million. While being fully aware of the difficulty to bring about a dramatic improvementof business performance under the current economic climate, we will makepreparations to make a dramatic improvement when the global economyrecovers from the downturn by concentrating our efforts on further cost reduc-tions, development of high-value added products and cultivation of new mar-kets.

Outlook by business segment for the full year is as follows:

◆Machined components business We will continue to aggressively expand sales of mainstay ball bearings to theautomobile and information & telecommunications equipment industries. Byachieving economies of scale in manufacturing from this sales expansion andfurther reducing costs, we aim to improve business results further. In addition,the aircraft market for rod-end bearings is comparatively strong, particularly inthe U.S. and Europe and we can expect benefits from this strong aircraft mar-ket. An increase in sales of rod-end bearings is also expected as a result of theintroduction of special bearings designed for medical equipment provided by anew controlled firm resulting from M&A we carried out during the current con-solidated fiscal year. In pivot assemblies, we expect to see a strong demand inthe second half of the year due to customers nearly completing inventoryadjustments.

◆Electronic devices and components businessIn the information motor business, we will strive to further enhance results bycontinuing to improve production efficiency and to make product mix reviewsand we expect to see a strong demand in the second half of the year. Anincrease in sales is expected due to the launch of a new business segment tosell micro actuators as a result of M&A we carried out during the current con-solidated fiscal year. In the spindle motor business, we will strive to improveresults mainly by making cost reduction efforts and boosting sales of 2.5”motors. Also, in the PC keyboard business, we can expect stable results byfocusing mainly on high-quality, high-priced models. In the speaker business,positive effects derived from business structural reform are expected. We willendeavor to improve the sales of LCD backlight assemblies, inverters, measur-ing components and other products and positive effects are expected to beseen in the second half of the year.

We look forward to your continuous support and guidance.

Yoshihisa KainumaRepresentative DirectorJune 2009

■ Net Income(Unit: millions of yen) Non-Consolidated Consolidated

■ Total Assets(Unit: millions of yen) Non-Consolidated Consolidated

■ Net Assets(Unit: millions of yen) Non-Consolidated Consolidated

FY2007 FY2008 FY2009 FY2007 FY2008 FY2009 FY2007 FY2008 FY20090

100,000

200,000

300,000

400,000

0

50,000

100,000

150,000

200,000

0

5,000

10,000

15,000

20,000

The following is an English translation of the Business Report of 63rd Business Year of Minebea Co., Ltd.The Company provides this translation for your reference and convenience only and without any warranty as to its accuracy or otherwise.

3

Performance by Business Segment (on a Consolidated Basis)

Machined Components Business Electronic Devices and Components Business

■Net sales and income decreased significantly due to curren-cy impacts, higher raw material costs and global recession.

Net sales fell ¥28,163 million(-19.6%) year on year, to ¥115,871million. Our products in the machined components business seg-ment include ball bearings, which are our mainstay product;mechanical components such as rod-end bearings primarily foruse in aircraft and pivot assemblies for use in hard disk drives(HDDs); screws for automobiles and aircraft; and defense-relateddevices and equipment. Compared with a year ago, in mainstayball bearings and rod-end bearings, although the sales were com-paratively stable in the first half of the year, they continued to fallevery month in the second half due to worsening market condi-tions triggered as a result of the economic slowdown as well asthe effects of the strong yen. In pivot assemblies, sales fell due togrowing inventory adjustments rapidly in the second half of theyear in the HDD industry, our main customer base, and theeffects of the strong yen.Although continued cost reduction measures were implemented,in addition to efforts to pursue basic technologies, product tech-nologies and manufacturing techniques, operating income alsodecreased ¥10,282 million(-37.1%) year on year, to ¥17,468 mil-lion. This was due to decreased profits not being able to berecovered owing to the effects of decreased sales along withaggravated market conditions.

■Despite of our cultivation of new markets, net salesand operating income decreased significantly due tocurrency impacts and global recession.

Net sales fell ¥50,105 million(-26.3%) year on year, to ¥140,291million. Our core products in the electronic devices and compo-nents business segment include information motors (fan motors,stepping motors, vibration motors and DC brush motors); HDDspindle motors; PC keyboards; speakers; LCD backlights; as wellas inverter and measuring instruments.Compared with a year ago, sales of measuring equipmentincreased mainly owing to cultivation of new markets. On theother hand, sales of information motors, HDD spindle motors andPC keyboards decreased, principally owing to rapidly deteriorat-ing market conditions and customers’ rapid inventory adjustmentsin addition to the effects of the appreciation of the yen in the sec-ond half of the year. In particular, sales of HDD spindle motorsdecreased significantly, due to customers’ inventory adjustments.There were no sales of FDD heads and MODs owing to theirbusiness termination.Operating income deteriorated by ¥7,074 million year on year, toa loss of ¥4,062 million, mainly owing to sharply decreased sales.

190,396

144,034

193,359

137,662 26,19569 3,012

27,750

140,291

115,871

17,468

(4,062)

■ Changes in Net Sales and Operating Income (by Business)

Net Sales(Unit: millions of yen)

OperatingIncome

(Unit: millions of yen)

FY2007

(10,000)

0

10,000

20,000

30,000

40,000

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

Electronic Devices andComponents Business

Machined Components Business

OperatingIncome

Net Sales

FY2009

OperatingIncome

Net Sales

FY2008

OperatingIncome

Net Sales

4

Performance by Geographical Segment (on a Consolidated Basis)

JapanIn Japan, except certain motors and electronics devices, sales were gen-erally weak. Net sales fell ¥16,224 million (-21.5%) year on year, to¥59,154 million, while operating income fell ¥7,835 million (-86.1%), to¥1,261 million.

Asia excluding JapanAsia, excluding Japan, including the Greater China region, is animportant manufacturing base for many manufacturers of Japan,Europe, America and other countries. Sales, excluding those ofmeasuring components, were generally sluggish, principally owing tothe effects of the appreciation of the yen, decreased sales of HDDspindle motors and pivot assemblies as a result of customers’ rapidinventory adjustments. As a result, net sales decreased ¥41,231 mil-lion (-24.2%) year on year, to ¥129,243 million, and operating incomealso fell ¥7,325 million (-47.0%) year on year, to ¥8,248 million.

North AmericaIn North America, sales of U.S.-made ball bearings and rod-end bear-ings for use mainly in the aircraft-related industries fell year on year,due to the effects of the strong yen, although the business remainedstable, led by both solid order placements from and supply to theindustries. Sales of PC keyboards, specialized in high value-addedproducts, were also weak owing to deterioration of market conditions.As a result, net sales fell ¥13,897 million (-25.9%) year on year, to¥39,687 million, and operating income declined ¥1,642 million (-36.7%), to ¥2,833 million.

EuropeIn Europe, the segments of ball bearings, rod-end bearings, etc. werecomparatively firm amid the current economic slowdown, but salesfell owing to the effects of the appreciation of the yen. As a result, netsales decreased ¥6,915 million (-19.8%) year on year, to ¥28,078 mil-lion, and operating income declined ¥553 million (-34.2%), to ¥1,063million.

0

30,000

60,000

90,000

120,000

150,000

0

30,000

60,000

90,000

120,000

150,000

0

30,000

60,000

90,000

120,000

150,000





FY2008 FY2009FY2007

FY2008 FY2009FY2007

FY2008 FY2009FY2007

FY2008 FY2009FY2007

Percentage ofnet sales

Percentage ofoperating income







● Net Sales in Japan

● Net Sales in Asia excluding Japan

● Net Sales in North America

● Net Sales in Europe

0

50,000

100,000

150,000

200,000

250,000

83,264

162,330

59,154

75,378

39,687

56,109 53,584

28,07829,317 34,993

129,243

170,474

9.4%

23.1%

11.0%

21.1%

15.5%

61.5%

50.4%

8.0%

5

Topics For further details, visit our website at http://www.minebea.co.jp/english/ and refer to the referencematerial listed in Press Release.

Toward Further Reinforcement and Development of Small MotorBusiness and Ball Bearing Business

Minebea acquired the stepping motor operations of FDK Corporation (FDK) in January 2009. In March 2009,the company took control of myonic Holding GmbH (myonic) in Germany, which has a high share and tech-nology in the miniature bearings market in Europe. We expect both acquisitions will drive us forward todevelop high value-added products.

New manufacturing site of stepping motors(Nava Nakorn Plant, Thailand, transferred fromFDK)

Signing ceremony in Frankfurt, Germany(Acquisition of ownership in myonic)

Commercialization of the World’s Smallest Ball Bearings with OutsideDiameter of 1.5mm

Successfully developing the world’s smallest bearings with the same structure as ordi-nary miniature bearings, Minebea began delivering samples in January 2009. We aimfor this bearing to be adopted in driving sections, etc. for micro medical equipment,micro motors and micro machines—the applications that we were unable to adapt towith conventional bearings.

Miniature bearing smaller than ricegrain

with 25¢ coin Assembly at Karuizawa Plant

66

Consolidated Financial Statements

●Consolidated Balance Sheets (unit: millions of yen)

148,117

23,281

64,835

1,511

42,400

－

－

－

－

－

8,498

7,791

（202）

172,411

150,609

9,846

11,956

15

320,544

Fiscal year 2008(as of

March 31, 2008)

121,699

27,895

43,355

780

－

14,298

11,506

7,245

3,144

2,542

3,143

7,939

（151）

163,697

135,406

11,881

16,408

0

285,396

Fiscal year 2009 (as of

March 31, 2009) LiabilitiesCurrent liabilities

Notes and accounts payableShort-term loans payable

Current portion of long-termloans payable

Current portion of bondsLease obligationsAccrued income taxesAccrued bonuses

Allowance for bonuses to directorsand corporate auditors

Allowance for environmental remediation expenses

Allowance for business restructuring lossesOthers

Long-term liabilitiesBondsLong-term loans payableLease obligationsAllowance for retirement benefits

Allowance for retirement benefitsto executive officers

Allowance for environmentalremediation expenses

Allowance for business restructuring lossesOthers

Total liabilities

Net assetsShareholders’ equityCommon stockCapital surplusRetained earningsTreasury stock

Revaluation / Translation differences

Difference on revaluation ofother marketable securities

Deferred hedge gains or lossesForeign currency translation adjustments

Minority interests inconsolidated subsidiaries

Total net assetsTotal liabilities and net assets

118,32124,05450,352

－

15,000－

3,5173,871

117

－

34721,06070,49221,50046,000

－1,707

95

－

－1,189

188,814

191,08768,25894,75628,169（97）

（60,512）

1,755

（0）(62,268）

1,155

131,730320,544


March 31, 2008)

112,3119,66358,890

22,100

－857418

3,806

－

267

63315,67366,32221,50035,4001,1305,121

136

939

2991,794

178,633

180,57968,25894,75620,819（3,255）（74,802）

（189）

2(74,615）

986

106,762285,396


March 31, 2009)

Note: Amounts less than one million yen have been omitted.

Assets

Current assets

Cash and cash equivalents

Notes and accounts receivable

Marketable securities

Inventories

Finished goods

Work in process

Raw materials

Supplies

Goods in transit

Deferred tax assets

Others

Allowance for doubtful receivables

Fixed assets

Tangible fixed assets

Intangible fixed assets

Investments and other assets

Deferred charges

Total assets

334,431253,70980,72149,95930,7622,38868710714－

1,5785,4584,402474－

58227,69139518211－

2012,833

－15056271998236－－－

165116531

25,2548,496

－（591）7,9051,04516,303

Fiscal year 2008(Apr. 2007 thru Mar. 2008)

7

●Consolidated Statements of Income (unit: millions of yen)


Net salesCost of sales

Gross profitSelling, general and administrative expenses

Operating incomeOther income

Interest incomeDividends incomeEquity in net income of affiliateIncome from scrap salesOthers

Other expensesInterest expensesForeign currency exchange lossEquity in net loss of affiliateOthersOrdinary income

Extraordinary incomeGain on sales of fixed assetsReversal of allowance for doubtful receivablesGain on liquidation of affiliatesReversal of allowance for business restructuring losses

Extraordinary lossLoss on disposal of inventories Loss on sales of fixed assets Loss on disposal of fixed assets Impairment loss Loss on liquidation of affiliates Loss for after-care of products Allowance for environmental remediation expenses Business restructuring loss Loss on transition of retirement benefit plan Special severance payment Retirement benefit expenses for overseas subsidiaries Retirement benefits to directors and corporate auditors Income before income taxes and minority interestsIncome taxes current (including enterprise tax)Reversal of income taxes for prior yearAdjustment of income taxesTotal income taxesMinority interests in earnings of consolidated subsidiariesNet income

256,163197,13759,02545,61913,4061,487418113－

527428

3,3382,6452642

42611,55539637－

31048

5,1175902943223－

146743

1,792374984－－

6,8344,433（1,028）

8174,223169

2,441


46,893

（23,461）

（20,604）

（1,277）

1,550

21,731

23,281


8

●Consolidated Statement of Changes in Net Assets (unit: millions of yen)


Shareholders' equity

Commonstock

Capitalsurplus

Retaindearnings

Treasurystock

Total sharehold-ers’ equity

Difference onrevaluation of other

marketable securities

Deferred hedgegains or losses

Foreign currencytranslation

adjustments

Revaluation / Translation differences

Total revaluation/translationdifferences

Minority interestsin consolidated

subsidiaries

Total netassets

●Consolidated Statements of Cash Flows (unit: millions of yen)

37,063

（24,554）

（6,974）

（920）

4,614

23,281

27,895

Cash Flows from Operating Activities

Cash Flows from Investing Activities

Cash Flows from Financing Activities

Effect of Exchange Rate Changes on Cash and Cash Equivalents

Net increase (decrease) in Cash and Cash Equivalents

Cash and Cash Equivalents at Beginning of Year

Cash and Cash Equivalents at End of Year


Balance at March 31, 2008

Changes

Decrease in earning surplus due to applicationof Business Response Report No. 18

Cash dividend fromretained earnings

Net income

Decrease due to increased unfunded liabilities relatedto overseas subsidiaries’ accounting for pensions

Purchase of own shares

Sales of own shares

Changes (net) in non-shareholders’ equity items

Total changes

Balance at March 31, 2009

68,258 94,756 28,169 （97） 191,087 1,755 （0）（62,268）（60,512） 1,155 131,730

（6,442）（6,442）（6,442）

（1,994）（1,994）（1,994）

2,441 2,441 2,441

（1,353）（1,353）（1,353）

（3,161）（3,161）（3,161）

（0）（1） 2 1 1

（1,945） 2 （12,347）（14,289）（169）（14,459）

－（0）（7,349）（3,158）（10,508）（1,945） 2 （12,347）（14,289）（169）（24,967）

68,258 94,756 20,819 （3,255） 180,579 （189） 2 （74,615）（74,802） 986 106,762


9

Non-Consolidated Financial Statements

●Non-Consolidated Balance Sheets (unit: millions of yen)

AssetsCurrent assets

Cash and cash equivalents

Notes receivable

Accounts receivable

Purchased goods

Finished goods

Work in process

Raw materials

Supplies

Goods in transit

Short-term loans receivable from affiliates

Deferred tax assets

Others


Fixed assetsTangible fixed assetsIntangible fixed assetsInvestments and other assetsInvestments in securities

Investments securities in affiliates

Investments in partnerships with affiliates

Long-term loans receivable from affiliates

Deferred tax assets

Others


Total assets

101,6849,5802,22046,1792,220779

2,5551,483102

1,01027,6005,6902,286（24）

235,18625,4222,786

206,9765,646

162,25536,152375901

1,942（297）

336,870


March 31, 2008)

73,44111,7831,41528,2171,810562

2,8841,37399545

21,0451,1882,521（5）

243,24626,8462,395

214,0044,416

162,36441,838432

4,1111,173（332）

316,688


March 31, 2009) LiabilitiesCurrent liabilities

Notes payable

Accounts payable

Short-term loans payable

Current portion of long-term loans payable

Current portion of bonds

Lease obligations

Accrued income taxes

Accrued bonuses

Allowance for bonuses to directorsand corporate auditors

Others

Long-term liabilitiesBonds

Long-term loans payable

Lease obligations

Allowance for retirement benefits

Allowance for retirement benefitsto executive officers

Others

Total liabilities

Net AssetsShareholders' equityCommon stockCapital surplusCapital reserveOthers

Retained earningsEarned surplusOthers

Reserve for general purpose

Retained earnings carried forward

Treasury stockRevaluation / Translation differences

Difference on revaluation of othermarketable securities

Deferred hedge gains or lossesTotal net assetsTotal liabilities and net assets

88,8442,08427,67136,300

－15,000

－1,1052,156

117

4,40867,96721,50046,000

－－

95

371156,812

178,34868,25894,75694,756

015,4262,08513,3416,5006,841（93）1,710

1,710

（0）180,058336,870


March 31, 2008)

85,828448

15,30941,30022,100

－49853

2,187

－

3,93158,10521,50035,40069354

130

327143,934

172,97468,25894,75694,756

－13,2102,08511,1256,5004,625（3,251）（219）

（219）

（0）172,754316,688


March 31, 2009)


225,071198,42626,64520,0146,6307,730778

6,26978152452

2,0961,103761－

23112,265276112－

12538

5,3971229371－

4,44542－－－

531－

7,1442,803

－37

2,8404,304


10

●Non-Consolidated Statements of Income (unit: millions of yen)


Net salesCost of sales

Gross profitSelling, general and administrative expenses

Operating income (loss)Other income

Interest income

Dividends income

Foreign currency exchange gain

Rent income of fixed assets

Others

Other expensesInterest expenses

Interest on bonds

Foreign currency exchange loss

Others

Ordinary incomeExtraordinary income

Gain on sales of fixed assets

Liquidation dividend from affiliated company

Reversal of allowance for doubtful receivables

Reversal of allowance for business restructuring losses

Extraordinary lossLoss on sales of fixed assets

Loss on disposal of fixed assets

Impairment loss

Loss on revaluation of investments securities in affiliates

Bad debt loss

Plant closure loss

Loss for after-care of products

Loss on transition of retirement benefit plan

Special severance payment

Retirement benefits to directors and corporate auditors


Income before income taxesIncome taxes (including enterprise tax)

Reversal of income taxes for prior year

Adjustment of income taxes

Total income taxes

Net income

175,066155,67219,39419,780（386）11,152424

10,176－

182369

2,1381,189468333146

8,62744154387－－

3,5921

1294

2,787－－

134344168－23

5,4761,084（1,028）1,6491,7053,770


11

Corporate Data (as of June 26, 2009)

■ Corporate DataTrade NameEstablishedCapitalNumber of EmployeesRegistered Headquarters

Head Office and Plants

Minebea Co., Ltd.July 16, 1951￥68,258 million2,721 (as of March 31, 2009)4106-73, Oaza Miyota, Miyota-Machi, Kitasaku-Gun, Nagano 389-0293, JapanTel: 81-267-32-2200Tokyo Head Office, Karuizawa Plant, Hamamatsu Plant,Fujisawa Plant, Omori Plant

■ Board of Directors

Representative Director,President and Chief Executive Officer

Yoshihisa KainumaDirector, Executive Vice President Officer

Koichi DoshoDirector, Senior Managing Executive Officers

Hiroharu KatogiAkihiro HiraoEiichi KobayashiHiroyuki YajimaMasayoshi YamanakaHirotaka Fujita

Outside DirectorsKohshi MurakamiTakashi Matsuoka

■ Corporate Auditors

Standing Corporate AuditorsTosei TakenakaAkifumi Kamoi

Standing Outside Corporate AuditorKazuaki Tanahashi

Outside Corporate AuditorsIsao HiraideHirotaka Fujiwara

■ Executive Officers

Senior Managing Executive OfficerSakae Yashiro

Managing Executive OfficersSusumu FujisawaMotoyuki NiijimaJunichi MochizukiTsugihiko MushaGary Yomantas

Executive OfficersMorihiro IijimaTakashi AibaDaishiro KonomiTatsuo MatsudaMotoharu AkiyamaTamio UchiboriKoichi TakeshitaTetsuya TsurutaShuji UeharaShigeru NoneKunio ShimbaHiromi YodaMiyuki FuruyaHarukazu HaseKazunori SawayamaRyozo Iwaya

12

■ Organization Chart

Board of Directors

President, Chief Executive OfficerSenior Executive Officer Council

Executive Vice President

Compliance Committee

Risk Management Committee

Environment Protection Committee

Security Trade Control Office

GM of Regional Affairs for South East Asia

GM of Regional Affairs for China

GM of Regional Affairs for Europe

GM of Regional Affairs for the Americas

Trade Compliance Control Office

Information Security Committee

Quality Management Committee

Patent Committee

Special Device Business Headquarters

Electronic Device & Component Business Headquarters

Machined Component Business Headquarters

Rotary Component Business Headquarters

HDD Motor Business Headquarters

Board of Auditors

Procurement & Logistics Div.

Sales Div.

Engineering Support Div.

Production Support Div.

Operation & Planning Div.

Finance & Administration Div.

CSR Promotion Div.

Special Device BU

Speaker BUKeyboard BUMeasuring Components BUCircuit Com

ponents BULighting Device BU

NHBB/myonic BU

Mechanical Assem

bly BURodEnd/Fastener BUBall Bearing BU

Hansen BUHM

SM BU

Micro Actuator BU

Precision Motor BU

Information M

otor BU

Spindle Motor BU

13

Share Information (as of March 31, 2009)

Total Number of Shares Authorized

Number of Shares Issued

Number of Shareholders

1,000,000,000 shares

399,167,695 shares

22,078

■ Major Shareholders (Top 10)

■ Stock Price on Tokyo Stock Exchange

Japan Trustee Services Bank, Ltd. (Trust Account) Japan Trustee Services Bank, Ltd. (Trust Account 4G) The Master Trust Bank of Japan, Co., Ltd. (Trust Account) Japan Trustee Services Bank, Ltd. (Trust Account 4) The Sumitomo Trust & Banking Co., Ltd. Keiaisha Co., Ltd. Takahashi Industrial and Economic Research Foundation The Bank of Tokyo-Mitsubishi UFJ, Ltd. Sumitomo Mitsui Banking Corporation NikkoCiti Trust and Banking Corporation (Trust Account)

37,645,000

25,971,000

25,636,000

20,010,000

15,349,000

15,000,000

12,347,330

10,057,839

10,000,475

5,501,000

9.43

6.51

6.42

5.01

3.85

3.76

3.09

2.52

2.51

1.38

(shares) (%)

Number of Shares Shareholding Ratio

(Yen)

10

11

122009 1 2 3

2006 4 5 6 7 8 9 10

11

122007 1 2 3 4 5 6 7 8

4 5 6 7 8 9

9 10

11

122008 1 2 3

0

500

1,000

1,500

■ Shareholder Distribution by Unit Shares

Number of Unit Shares (1 unit = 1,000 shares)

Number of Unit Share Holders

Individuals and Others63,688(15.98%)

Foreign Corporations95,625(24.00%)

Securities Firms9,090(2.28%)

Securities Firms41(0.20%)

Other Corporations33,863(8.50%)

Financial Institution196,181(49.24%)

Other Corporations273(1.37%)

Foreign Corporations341(1.71%)

Financial Institution86(0.43%)

Individuals and Others19,234(96.29%)

Note:The Company holds 10,182,931 shares of treasury stock which are excluded from themajor shareholders.

14

Information for Shareholders

Business Year From April 1 to March 31 of next year

Ordinary General Meetingof Shareholders June every year

Record Date Ordinary General Meeting of Shareholders March 31 every yearYear-end Dividends March 31 every yearInterim Dividends September 30 every year

Agent to Manage Shareholders Registry andSpecial Accounts Management Institution 5-33, Kitahama 4-chome, Chuo-ku, Osaka

The Sumitomo Trust & Banking Co., Ltd.

Handling Office of Agentto Manage Shareholders Registry 3-1 Yaesu 2-chome, Chuo-ku, Tokyo

The Sumitomo Trust & Banking Co., Ltd.Stock Transfer Agency Department

(Delivery Address for Postal Matters) 1-10, Nikko-cho, Fuchu-shi, Tokyo 183-8701The Sumitomo Trust & Banking Co., Ltd.Stock Transfer Agency Department

(Telephone Inquiries) 薔® 0120-176-417

(Web Site) http://www.sumitomotrust.co.jp/STA/retail/service/daiko/index.html

Public Notice The Nihon Keizai Shimbun

Common Stock Listings Tokyo, Osaka and Nagoya

<Shareholders, Inquiries and Notifications Concerning Matters Such as Change of Address>Please notify inquiries or notifications concerning procedures related to shares (such as change of registered address or name,

change of the method or place to receive dividends, request to sell or buy shares less than one unit [for holders of shares less thanone unit]) as follows.

・Shareholders who hold accounts at securities companies are requested to notify your securities companies.・Shareholders who do not hold accounts at securities companies are requested to notify The Sumitomo Trust & Banking Co.,

Ltd. (Please also refer to the notice of“Special Accounts”below.)

<Special Accounts>Shares of such shareholders that was yet to have used Japan Securities Depository Center, Inc. (JASDEC) by the date of the

enforcement of share certificate dematerialization (January 5, 2009) are recorded on the accounts (called“special accounts”)opened at the agent to manage shareholders registry, The Sumitomo Trust & Banking Co., Ltd. For details of special accounts, youare requested to use the above telephone number of The Sumitomo Trust & Banking Co., Ltd.

©Minebea Co., Ltd.June 2009

Minebea Co., Ltd. Tokyo Head OfficeARCO Tower, 19th Floor,1-8-1 Shimo-Meguro, Meguro-ku, Tokyo 153-8662, JapanTel: 81-3-5434-8611 Fax: 81-3-5434-8601URL: http://www.minebea.co.jp/

Recognizing the importance of utilizing domestic wood products and nurturing domestic forests, Minebea Co., Ltd., supports the KIZUKAI-UNDOH (“Wood Products Utilization Campaign”), which is being promoted by Japan’s Forestry Agency. The 3.9 GREENSTYLE mark is one of the campaign’s logos.The production of reports such as this contributes to the use of domestic wood in papermaking materials, and thus to the increased absorption of CO2 by trees grown in Japan.0 6 0 0 0 1A

Cert no. SGS-COC-2499

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