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5. U-SHIN LTD. Business Report FY ended Dec. 2017

U-SHIN LTD. Business Report FY ended Dec. 2017

*Rate of change not shown as FY2017 was 13 months from Dec. 1, 2016 to Dec. 31, 2017 due to the closing month change.

Factors

１）Focused on improving turnaround and productivity of the Access Mechanism Product Group of Valeo acquired in 2013.

２）Non-operating expenses generated by an exchange loss of JPY 632 million were offset by an increase in
operating profit.

３）Registered an extraordinary loss of JPY 1,444 million for Nevers factory, France,
which failed to achive its sales target. Meanwhile, the Company posted black-ink figures for the full year by recording extraordinary profit of JPY 2,907 million by selling securities.

４）Sales to major customers in Japan remained strong. Sales to Japanese customers in China also remained robust. The Access Mechanism Product Group acquired from Valeo run into the red, though the figures improved from the last year.

Outlook for FY ending Dec. 31, 2018

-Overall sales for the period ending December 31, 2018 are estimated at JPY 152 billion with an operating profit of JPY 4.3 billion.

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

R&D Structure

-The Company has domestic development operations in Hiroshima, Hamamatsu & Saitama in Japan.

-Engineers at R&D facilities in Japan, China, the U.S. and India are collaborating to develop products that meet the needs of each market quickly and efficiently.

Product Development

Power closure system

-All-new compact and light Compact Spindle Drive (CSD) generating less noise and an ECU for its drive control were developed simultaneously.

Gesture sensor

-A sensor to open/close the rear gate only with the gesture of the hands . A sensor to detect hand motion is embedded in the rear ganish. A motion to swing a hand up in front of the sensor opens the rear gate.

StepGate

-A system to open/close the rear gate automatically without need to touch the vehicle. A user can operate the sytem by stepping on the virtual button projected on the ground when the user approaches the vehicle.

Flash handle and E-Latch

-The Company developed the Flash Handle arranged on the same side of the door surface and the E-Latch to electrically release the engagement between the door and the car body. When a user holding a remote controller approaches the car, the handle pops out of the door and become operable. When the user grabs the handle, a sensor activates the E-Latch to enable the person to open the door with a light force. Half-closed doors are retracted and closed completely by the closure. With a light touch on the handle, the handle pops out from the door or retracted into the door.

Door edge protector

ｰWhen a side door is opened, the protector pops out from inside to protect the door edges and prevent damage on the adjoining vehicle. This product has become compact by improvement.

Electric shifter

-The existing mechanical transmission operation was made completely electronically-controlled.

Milliimeter radar

-The Company has developed a software to increase the resolution of two-dimentional milimeter radar used in the ADAS field to 8 to 10 times. It is capable of more precise detection of objects.

-Major investment activities at the Automotive Component Division for fiscal year ended Nov. 2016 included spending on dies and production machinery.

Investment Outside Japan

-The company will expand its production and development capability in China. It will construct a new plant for U-Shin Access Systems (Wuxi) Co., Ltd., a production subsidiary, and transfer the operations of its existing Suzhou facility to the new plant. The new facility is scheduled to begin production by the end of 2017. It will increase its production volume in stages with a plan to reach full-scale operations within a year. At the same time, the company will position U-Shin Manufacturing (Zhongshan) Co., Ltd. as a production hub for products targeted at China and other Asian markets. It will also transfer part of its Japanese operations' development functions to the Zhongshan subsidiary. In line with its expansion in China, the Kure Plant in Japan that has produced products for the Asian market will shift its focus to the Japanese, European, and Mexican markets to increase operational efficiency. (From an article in the Nikkan Jidosha Shimbun on May 31, 2017)