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5. Futaba Industrial Co., Ltd. Business Report FY ended Mar. 2019

Futaba Industrial Co., Ltd. Business Report FY ended Mar. 2019

New 5 year management plan (FY ending Mar. 2017 - FY ending Mar. 2021)

-In May 2016, the Company mapped out its 5 year management plan that covers the period between FY ending Mar. 2017 and FY ending Mar. 2021. The Company aims to increase its annual sales to JPY 440,000 million and raise its operating margin to 3.5%. Basic policy and major objectives are followings:

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

R&D Activities

-The Company has conducted various research and development activities as follows:

• Aiming to improve fuel efficiency, the Company developed lighter weight and lower cost exhaust, body, chassis, and fuel products.
• In order to improve the fuel efficiency of hybrid vehicles, the Company worked on developing exhaust-heat-recovery devices, making them higher performance, more compact, and lighter in weight.
• The Company developed heat-management systems, raising their energy efficiencies to the maximum levels possible.
• In achieving lighter weight vehicle bodies and enhancing collision-safety performance, the Company introduced hot-stamping lines that use a new production method to manufacture 1,180MPa class high-tensile steel. This is being used to develop thinner but stronger body-frame parts.
• In responding to exhaust-emission issues, the Company is developing exhaust treatment devices for gasoline-engine vehicles, which treat carbon monoxide and hydrocarbons; and for diesel-engine vehicles, it is developing devices that treat particulate matter and nitrogen oxides.

ｰAnnounced that it will consolidate its wholly-owned automotive parts production subsidiaries, Futaba Industrial U.K. Ltd. (Futaba Industrial U.K.) and Futaba Manufacturing U.K. Ltd. (Futaba Manufacturing U.K.) on December 31, 2018. The company intends to improve the efficiency of management resources and profitability by reorganizing its group companies. All of Futaba Industrial U.K.'s business will be transferred to Futaba Manufacturing U.K. Futaba Industrial U.K. will be dissolved and become Futaba Manufacturing U.K.'s second plant. The combined sales amount of the two subsidiaries is about JPY 11 billion. (From an article in the Nikkan Jidosha Shimbun on June 25, 2018)

ｰAnnounced that it will sell Chongqing Futaba Auto Parts Co., Ltd. (Chongqing Futaba Auto Parts), its Chinese automotive parts subsidiary, to Skyman Auto Chassis (Wuhu) Co., Ltd. In response to Chongqing Futaba Auto Parts' continuing poor business performance, Futaba Industrial will proceed with the selection and concentration of its operations. Chongqing Futaba Auto Parts, a wholly-owned subsidiary of Futaba Industrial, was established in December 2012 with a capital of JPY 2.11 billion to manufacture automotive parts. Futaba Industrial, in light of development of its Group's business efficiency, will sell Chongqing Futaba Auto Parts and concentrate its management resources on areas with the potential for sustainable growth. Futaba Industrial will sell off all of its stockholdings in Chongqing Futaba Auto Parts to Tianren Auto Chassis, a Chinese supplier that manufactures and sells automotive suspension parts, for CNY 3 million (JPY 50 million) in late February. After the sale of the subsidiary, the number of Futaba Industrial plants in China will be seven. (From an article in the Nikkan Jidosha Shimbun on February 3, 2018)