Mikuni Corporation Business Report FY ended Mar. 2020
Financial Overview |
(in millions of JPY) |
| FY ended Mar. 31, 2020 | FY ended Mar. 31, 2019 | Rate of Change (%) | Factor | |
| Overall | ||||
| Sales | 110,499 | 121,803 | (9.3) | -The global economy in Japan and around the world slowed due to the spread of the coronavirus pandemic. In addition, the Company experienced an overall downturn in sales at the non-automotive business segment. |
| Operating income | 2,410 | 4,403 | (45.3) | -Demand for automobile products fell mainly in China and India. |
| Ordinary income | 1,858 | 4,381 | (57.6) | - |
| Profit for the year attributable to owners of the parent | (4,014) | 2,262 | - | -Posted a loss due to losses on the sale of fixed assets. |
Outlook for the fiscal year ending in March 2021
-The Company has not released a forecast for the fiscal year ending in March 2021, due to uncertainties caused by the coronavirus pandemic.
R&D Activities
-In the fiscal year that ended in March 2020, the Company spent JPY 5,935 million on R&D expenses, among which JPY 5,562 million was spent on the automotive segment. In the automotive segment, R&D activities mainly included work to develop electronically controlled fuel-injection systems and engine components. These will become the foundations for developing technologies on control, actuators, sensing, and materials. In addition, work was done to develop intake modules, plastic intake manifolds, thermal management systems, electric-powered exhaust control valves, electric-powered vacuum pumps, and electric-powered oil pumps in meeting the needs for better fuel efficiency and electrification. In addition, the Company is developing technology to reduce CO2
Capital Expenditure
-The Company spent JPY 7,364 million on capital investments in the fiscal year that ended in March 2020. Of that amount, it spent JPY 6,862 million at the automotive business to develop new products, produce new products, and streamline operations.
Planned Capital Investments (Automotive segment) |
(As of Mar. 31, 2020) |
| Company/Plant | Location | Estimated amount of investment (in millions of JPY) |
From | To |
| Kikugawa Plant | Shizuoka Pref., Japan | 456 | Apr. 2020 | Mar. 2021 |
| Odawara Plant | Kanagawa Pref., Japan | 415 | Apr. 2020 | Mar. 2021 |
| Morioka Plant | Iwate Pref., Japan | 449 | Apr. 2020 | Mar. 2021 |
| Mikuni (Shanghai) Co., Ltd. | Shanghai, China | 677 | Jan. 2020 | Dec. 2020 |
| Mikuni India Private Limited | Rajasthan,India | 611 | Apr. 2020 | Mar. 2021 |
| Mikuni（Thailand）Co.,Ltd. | Ayutthaya, Thailand | 448 | Jan. 2020 | Dec. 2020 |
| PT. Mikuni Indonesia | Bekasi, Indonesia | 447 | Jan. 2020 | Dec. 2020 |