Q&A
Latest Update :
Jul.12, 2006
Back to Shareholders' Meetings (Year 2006)
The 60th Ordinary General Meeting of Shareholders
* Some parts have been added and modified for a clearer understanding.
Question
- I think more drastic capital measures need to be adopted. I believe that the Company has not made any capital changes for 20 years since it purchased Kanemori Co., Ltd. in 1986. Does the Company have any specific plans for this, such as the purchase of treasury stocks?
- I feel that general shareholders' meetings should be open to more shareholders. What do you think about the way in which shareholders' meetings are conducted?
- I heard that the Company started business in China in 1994. Is this the year when the Company started preparations for business in China or the year the Company started operations?
- The Company's dividend per share has remained at 7 yen for more than 10 years, even in years when the Company experienced net losses. Is there any need for the Company to maintain the dividend at 7 yen?
- I'd like to ask you about the relationship between the Company and Keiaisha Co., Ltd., one of Minebea's shareholders. What is your opinion regarding the business situation surrounding Keiaisha Co., Ltd, whose shareholding structure has been changing drastically?
Answer
- I think more drastic capital measures need to be adopted. I believe that the Company has not made any capital changes for 20 years since it purchased Kanemori Co., Ltd. in 1986. Does the Company have any specific plans for this, such as the purchase of treasury stocks?
- The Company has previously issued convertible bond. Over the last few years, convertible stock issued has been redeemed without being converted due to the slump in the Company's performance. To resolve this kind of situation, the options available at the moment are either to improve our business performance or to take capital measures to prepare for the future by raising per-share profits.
To be specific, we aim to improve what was formerly known as the "three money-losing businesses", i.e. the HDD spindle motor business, the information motor business, and the PC keyboard business. We will also further develop our main businesses such as ball bearings and other machined components, and once we have confirmed such developments we would like to discuss and identify future capital measures.
- I feel that general shareholders' meetings should be open to more shareholders. What do you think about the way in which shareholders' meetings are conducted?
- The company has always aimed for open shareholders' meetings. A resolution of the 57th shareholders' meeting made it possible to change the venue of the shareholders' meeting, and we are considering of having it in Tokyo in the future. Furthermore, regarding the date, due to the settlement of accounts board of directors' meeting and audit report it was decided to hold the meeting on the 29th this year, a date on which many other companies also hold their shareholders meetings, we will continue to consider changing this date.
- I heard that the Company started business in China in 1994. Is this the year when the Company started preparations for business in China or the year the Company started operations?
- 1994 was the year in which we started operations.
- The Company's dividend per share has remained at 7 yen for more than 10 years, even in years when the Company experienced net losses. Is there any need for the Company to maintain the dividend at 7 yen?
- Regarding the dividend, in consideration of various factors such as how to return benefit to shareholders, the situation surrounding business developments, and ways to reinforce corporate strengths we think it's important to keep the dividend at a certain level. The agenda for general shareholders' meeting this time includes a plan to enable the provision of an interim dividend.
- I'd like to ask you about the relationship between the Company and Keiaisha Co., Ltd., one of Minebea's shareholders. What is your opinion regarding the business situation surrounding Keiaisha Co., Ltd, whose shareholding structure has been changing drastically?
- Although we undertake certain transactions with Keiaisha Co., Ltd. such as the purchase of materials, lease, and insurance, I will withhold my answer as Keiaisha Co., Ltd. does not have any connection with the agenda of this shareholders' meeting.
