Briefing with senior executives: Favorable business conditions

研报英文原文证据摘录

Briefing with senior executives: Favorable business conditions

Global Markets Research

2 July 2026Minebea Mitsumi

6479.T 6479 JP / EQUITY: JAPAN MACHINERY

Briefing with senior executives: Favorable Rating Neutralbusiness conditions

Target price JPY 3,590Quick Note

Closing price

2 July 2026 JPY 4,694Concentrating management resources on achieving high growth, with benefits from

favorable business conditions (Note: Quick Note reports are not a

Minebea Mitsumi held a briefing for sell-side analysts on 2 July attended by senior vehicle for changes to ratings, target

executives. It did not talk about recent business conditions, but demand looks to have prices, or earnings forecasts)

been strong for products such as AI data center bearings, fan motors (counter-rotating fan

motors with increased static pressure), and analog semiconductors (serial EEPROM

mounted together with NAND flash SSDs and battery protection modules for battery

backup units (BBUs)). Chairman Yoshihisa Kainuma said that 2026 would be a year of

Research Analystsunusually favorable demand conditions, and that Mitsumi Minebea was looking for

multilayered growth as a company that manufactures a wide range of parts. Below, we Japan electronic parts

summarize comments about key products. Manabu Akizuki - NSC

manabu.akizuki@nomura.com

AI data centers: Counter-rotating fan motors involve two axial fans positioned one behind +81 3 6703 1185

the other and rotating in opposite directions. Their high static pressure enables them to

deliver cooling air even in locations with high air resistance, for example because of

cables or power supply units. Their use of four bearings also boosts demand for bearings.

Humanoid robots: The company is focusing on actuators. High-quality operability even at