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5. F-TECH Inc. Business Report FY ended Mar. 2018

F-TECH Inc. Business Report FY ended Mar. 2018

Although unit production at OEMs in North America was slow, in the fiscal year that ended in March 2018 sales were higher for the year, thanks to the Company’s launching new products to fulfill orders from customers, achieving overall higher sales, and posting favorable currency translation due to the weak valuation of the yen.
Operating income was lower year over year because of the following reasons: end of production of high, value-added products; lower productivity caused by a tight labor market; delays in new customers’ plans for launching new models; and increased expenses for logistics and production-efficiency improvements needed for the future.

Orders

ｰDelivered 100% of parts for all of Honda’s global vehicles.
ｰDelivered 18.9% of GM’s global requirement for suspension-parts and 18.7% of GM’s requirement for mounting parts.
ｰDelivered 50.8% of Nissan’s global requirement for control parts.

ｰWon orders from new customers in Thailand and Canada for suspension parts and mounting parts.

Mid-term Management Plan

-The Company established its 13th mid-term management plan, which covers the fiscal year ending in March 2017 through the fiscal year ending in March 2020. The Company aims to achieve sales of JPY 212,000 million, an operating profit of JPY 10,500 million, and an operating profit margin of 5% or higher. The basic strategies are outlined below.

• Win more new, major customers
• Develop new products
• Develop new technologies and processing methods
• Plan and launch operations in new business sectors

>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)

R&D Structure

R&D Activities

-Made subframes and suspensions that are significantly lighter in weight and lower in cost and which enable productivity to be improved; for the Honda "N-Box", North American version of the "Accord", and the "Amaze" sold exclusively in India.

-Launched the world’s first commercial production of ferro-aluminum, which has less warp, through friction stir welding (FSW) and worked on developing technology that can weld carbon and steel.

-For the FY that ended in March 2018: Japan (JPY 2,069 million), North America (JPY 7,902 million), and Asia (JPY 2,918 million)