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  5. Nabtesco Corporation Business Report FY ended Mar. 2015

Nabtesco Corporation Business Report FY ended Mar. 2015

Financial Overview

(in millions of JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 Rate of Change
(%)		 Factors
Sales 219,657 202,292 8.6 -
Operating income 23,615 20,092 17.5 -
Ordinary income 27,193 24,227 12.2 -
Current net income 17,746 14,978 18.5 -
Transport Equipment Business
Sales 61,388 52,641 16.6 -Sales of equipment for commercial vehicles were basically flat as a result of strong demand for trucks in Japan being offset by lower demand for trucks outside Japan.
Operating income 11,355 6,344 79.0 -

Outlook for FY ending Dec. 31, 2015 (Transport Equipment Business)

(in millions of JPY)
FY ending Dec. 31, 2015
(Forecast)		 FY ended Mar. 31, 2015
(Actual Results)		 Rate of Change
(%)
Sales 51,700 61,388 -
Operating income 9,200 11,355 -

*From the following fiscal year, the Company is planning to change its fiscal year ending date from March 31 to December 31.

Mid-term Management Plan

FY ending Mar. 31, 2017 FY ending Mar. 31, 2021
Long-term vision
Overall
Sales 280 billion yen ±5% 400 billion yen
Operating income 34 billion yen 60 billion yen
Operating income ratio 12.0% 15.0%
Current net income 24 billion yen -
ROA 7.5% 11.0%
ROE 15.0% 18.0%
Transport Equipment Business
Sales 73.5 billion yen -
Operating income 13.6 billion yen -



-Expand sales outside Japan, mainly in ASEAN markets, by making use of its strong product proposals and its facilities in Thailand and India.
-Reduce costs by improving productivity and procuring more local content outside Japan

R&D Expenditure

 (in millions of JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Overall 6,876 6,401 5,535
Transport Equipment Business 2,060 1,984 1,828


-R&D achievements during the fiscal year that ended March 2015 are as follows:
1. Development of oil-filter parts
2. Developing a series of electric vacuum pumps

R&D Structure

-The Technical Headquarters, as the lead overseer of R&D activities, conducts some of the activities such as planning and execution that are left to each of the separate businesses and subsidiaries.

R&D Facility (Nabtesco Automotive)

Name Location
Yokosuka Technical Center Kanagawa Pref.,
Japan

Capital Expenditure

(in millions of JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Overall 6,918 6,760 10,190
Transport Equipment Business 1,503 1,703 1,962

Investment outside Japan


-Nabtesco Automotive Corporation announced that its Thai subsidiary, Nabtesco Automotive Products (Thailand) Co., Ltd., has constructed a new plant in Samutprakarn and relocated its existing plant to this new site. (From a press release on October 20, 2014)

Data

Number of Employees

  Mar. 2015 Mar. 2014 Mar. 2013
Overall 5,552 5,344 5,081
Transport Equipment Business 1,324 1,274 1,187

Sales by Segment

 (in millions of JPY)
  FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Sales Operating
Income		 Sales Operating
Income		 Sales Operating
Income
Precision Equipment Business 51,547 8,356 42,853 6,359 41,578 5,354
Transport Equipment Business 61,388 11,355 52,641 6,344 44,262 4,214
Aircraft and Hydraulic Equipment Business 47,857 995 52,533 3,862 45,746 1,836
Industrial Equipment Business 58,863 2,908 54,264 3,526 47,956 3,608
Total 219,657 23,615 202,292 20,092 179,543 15,013

Sales by Geographic Area

 (in millions of JPY)
  FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Japan 121,915 114,527 107,015
China 26,856 27,129 29,916
Asia excluding Japan and China 16,237 14,162
North America 18,888 15,560 13,868
Europe 35,058 30,364 28,222
Others 700 549 521
Total 219,657 202,292 179,543

Consolidated
FY ended Mar. 31, 2011 FY ended Mar. 31, 2012 FY ended Mar. 31, 2013 FY ended Mar. 31, 2014 FY ended Mar. 31, 2015
Sales (million yen) 169,303 198,527 179,543 202,292 219,657
Income from ordinary business activities (million yen) 22,365 24,656 17,890 24,227 27,193
Net income (million yen) 13,387 14,756 13,269 14,978 17,746
Comprehensive income (million yen) 13,398 14,354 18,655 25,603 24,241
Net assets (million yen) 96,531 107,466 120,857 139,471 158,664
Total assets (million yen) 180,729 208,092 203,056 233,984 245,992
Book value per share (yen) 713.77 784.12 894.86 1,035.68 1,184.17
EPS (yen) 105.91 116.74 104.57 117.95 140.24
Diluted EPS (yen) 105.80 116.61 104.39 117.78 139.99
Net asset ratio (%) 49.9 47.6 56.2 56.0 60.9
ROE (%) 15.8 15.6 12.5 12.2 12.6
PER 19.8 14.5 18.5 20.1 24.8
Cash flow from operating activity (million yen) 27,997 15,104 12,952 27,597 19,949
Cash flow from investment activity (million yen) (4,419) (27,464) (13,693) (8,064) (7,880)
Cash flow from financial activity (million yen) (1,849) 6,035 (10,090) (8,175) (15,888)
Balance at the term-end of cash and cash equivalents (million yen) 56,570 50,023 40,200 53,052 50,455
Number of employees 4,057 4,995 5,081 5,344 5,552

 

Non Consolidated

FY ended Mar. 31, 2011 FY ended Mar. 31, 2012 FY ended Mar. 31, 2013 FY ended Mar. 31, 2014 FY ended Mar. 31, 2015
Sales (million yen) 117,383 133,709 115,862 128,399 141,158
Income from ordinary business activities (million yen) 14,985 18,112 11,865 18,360 23,656
Net income (million yen) 9,426 12,204 8,339 11,624 16,970
Paid-in Capital (million yen) 10,000 10,000 10,000 10,000 10,000
Number of stock outstanding (1,000) 127,212 127,212 128,265 128,265 128,265
Net assets (million yen) 70,955 78,422 84,741 90,192 104,468
Total assets (million yen) 143,671 162,210 153,792 168,617 174,106
Book value per share (yen) 557.05 615.69 659.16 706.71 818.12
Dividend per share (yen) 25.00
(9.00)		 34.00
(17.00)		 34.00 38.00 44.00
EPS (yen) 74.19 96.05 65.37 91.07 133.41
Diluted EPS (yen) 74.11 95.94 65.26 90.94 133.18
Net asset ratio (%) 49.3 48.2 54.9 53.3 59.8
ROE (%) 14.1 16.4 10.3 13.3 17.5
PER 28.2 17.7 29.6 26.1 26.1
Payout ratio (%) 33.7 35.4 52.0 41.7 33.0
Number of employees 1,989 2,020 2,060 2,092 2,102