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5. PT. Astra Otoparts Tbk Business Report FY ended Dec. 2016

PT. Astra Otoparts Tbk Business Report FY ended Dec. 2016

Factors
1) Sales
-The Company’s net sales in the fiscal year ended December 31, 2016, increased by 9.2% over the previous year to IDR 12,806.9 billion. An increase in sales for both OEM components and aftermarket components contributed to the increase in sales. This was caused by increasing demand in vehicles as well as the launch of new models and was partially offset by the decreasing demand of motorcycles.

2) Net Income
-The Company’s net income increased by 31.3% to IDR 418.2 billion in the fiscal year ended December 31, 2016. The increase in income was due to increased sales, and improved effectiveness and efficiency in both the Company’s production lines and employees.

Joint Ventures

-On October 14, 2016, PT TD Automotive Compressor Indonesia inaugurated a new factory which will manufacture air conditioning compressors for automotive vehicles. The new factory, located in Bekasi, spans 4.3 hectares and is expected to produce 10 million compressors per year for customers including Toyota, Daihatsu, Honda, Mitsubishi, Suzuki, Perodua, Ford, and GM. PT TD Automotive Compressor Indonesia is a joint venture between the Company, Toyota Industries Co., Denso International Asia, and Toyota Tsusho Indonesia. (From a press release on October 15, 2016)

-On September 28, 2016, the Company simultaneously inaugurated new factories for both PT Aisin Indonesia Automotive and PT Advics Manufacturing Indonesia. Approximately IDR 1.1 trillion was invested in the PT Aisin Indonesia Automotive plant, which currently has 500 employees. The plant’s products include door handles, seat motors, oil pans, and pumps. The PT Advics Manufacturing Indonesia plant has had IDR 360 billion invested into it and produces master cylinders, brake assemblies, and drum-in-hat parking brakes. (From a press release on September 29, 2016)

-On September 23, 2016, the Company’s Bridgestone Astra Indonesia joint venture inaugurated its first factory, located in Purwakarta. The factory spans approximately two hectares has a production capacity of approximately five million anti-vibration products per year. Bridgestone Astra Indonesia expects to increase production to nine million per year by 2018. Products supplied by the factory include engine mounts, suspension bushings, rubber products, and exhaust mounts. (From a press release on September 24, 2016)

Awards

-Major awards won during the fiscal year ended December 31, 2016

R&D Expenditures

-The Company invested IDR 22.7 billion in research and development during the fiscal year ended December 31, 2016.

R&D Facilities

-The Company conducts R&D activities mainly in the Engineering Development Center Division, established in 2012. More than 100 engineers engage in research and development activities.

Product Development

-The Company has developed the GS Astra ISS (idle stop start) battery, the first such battery for four-wheeled vehicles in Indonesia. The battery is designed specifically to be used in vehicles with stop-start technology and is capable of receiving high loads in short periods of time. (From a press release on August 14, 2016)

-In the fiscal year ended December 31, 2016, the Company expanded its product portfolio with the following new products:

• PT Astra Komponen Indonesia: Passenger seats for commercial vehicles and trucks developed in collaboration with the Engineering Development Center (EDC); Sun visors for commercial vehicles and trucks
• PT Astra Visteon Indonesia: Audio head unit for passenger and commercial vehicles
• PT Astra Juoku Indonesia: Rear fog lamps for passenger and commercial vehicles
• PT Aisin Indonesia Automotive: Power sliding doors and oil pans for passenger vehicles

Capital Expenditure

-The Company’s capital expenditure in the fiscal year ended December 31, 2016 totaled IDR 630.2 billion. The Company invested IDR 149.1 billion in associates and joint ventures, and invested IDR 481.1 billion for production capacity increases and business expansions.

-In the fiscal year ended December 31, 2016, the Company expanded the production capacities at a number of facilities as follows:

• PT Autoplastik Indonesia added nine plastic injection machines in the first four months of 2016
• PT Bridgestone Astra Indonesia began production of various anti-vibration parts in June 2016 with the capacity of 4.35 million units per year
• PT Federal Izumi Manufacturing added new furnace, casting, cutting and machining infrastructure
• PT Gemala Kempa Daya started trials for its electrophoretic deposition paint machine which will begin mass production in 2017
• PT Pakoakuina constructed a new factory to produce steel wheels in Karawang, Indonesia, which is capable of producing three million units per year
• PT Akebono Brake Astra Indonesia added a machining line to produce parts for Toyota
• PT Astra Juoku Indonesia added vibration, hot insert, and painting machines
• PT Astra Nippon Gasket Indonesia installed two new laser peal off machines
• PT AT Indonesia added a machining line to produce parts for Toyota
• PT Evoluzione Tyre added 20 curing machines
• PT Inti Ganda Perdana increased production capacity of Flywheel NR products
• PT TD Automotive completed a 4.3-hectare plant to increase its production capacity to four million compressor units per year
• PT Toyoda Gosei Safety System Indonesia added one plastic injection machine and one foaming machine