T.RAD Co., Ltd. Business Report FY ended Mar. 2020
Financial Overview |
(in millions of JPY) |
| FY ended Mar. 31, 2020 | FY ended Mar. 31, 2019 | Rate of Change (%) | Factors | |
| Overall | ||||
| Sales | 130,524 | 136,125 | (4.1) | -Sales decreased in all regions, except in the USA and China |
| Ordinary profit | 2,883 | 5,572 | (48.3) | - |
| Profit for the year attributable to owners of the parent | 1,435 | 1,735 | (17.3) | - |
Factors
Sales at the automotive heat-exchanger business
-Japan: Decrease year-on-year due to lower sales volumes at OEMs
-USA: Increase year-on-year, thanks to higher sales volumes by customers
-Europe: Increase year-on-year due to the additional production volume in the Czech Republic, which was in response to new orders won for vehicle models that were started to be built.
-Asia: Increase year-on-year in Indonesia due to strong sales of models the Company delivers products to, although orders in Thailand decreased year-on-year.
-China: Increase year-on-year due to sales increases at Japanese OEMs, even though sales at Chinese OEMs decreased.
Licensing of Technology to Other Companies |
(As of Mar. 31, 2020) |
| Partner (Country) |
Contract | Contract period |
| PT. Batarasura Mulia (Indonesia) | Manufacturing technology for radiators | Dec. 2019 - Dec. 2024 |
| Tata Toyo Radiator Ltd. (India) | Manufacturing technology for radiators | Jan. 2020 - Dec. 2026 |
| Torc Co., Ltd. (Thailand) | Manufacturing technology for radiators | Jan. 2020 - Dec. 2020 |
R&D Expenditure |
(in millions of JPY) |
| FY ended Mar. 31, 2020 | FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | |
| Japan | 2,612 | 2,835 | 2,737 |
| USA | 71 | 55 | 33 |
| Europe | 23 | 17 | 44 |
| Asia | 34 | 23 | 12 |
| China | 123 | 117 | - |
| Total | 2,865 | 3,049 | 2,827 |
Product Development
-In the clean-vehicle field, the Company is developing cooling systems that respond to the increasing electrification of hybrid, electric, and fuel-cell vehicles.
Capital Expenditure |
(in millions of JPY) |
| FY ended Mar. 31, 2020 | FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | |
| Japan (parent basis) | 3,395 | 3,778 | 3,619 |
| USA | 1,613 | 956 | 1,105 |
| Europe | 205 | 714 | 433 |
| Asia | 953 | 935 | 495 |
| China | 857 | 375 | 198 |
| Other | 154 | 124 | 122 |
| Overall | 7,177 | 6,882 | 5,975 |
Planned Capital Investment |
(As of Mar. 31, 2020) |
| Facility (Location) |
Equipment to be installed | Planned investment amount (million JPY) |
Starting | Planned completion |
| Hatano Works (Kanagawa, Japan) |
Equipment to produce radiators, etc. | 528 | Jul. 2019 | Mar. 2021 |
| Nagoya Works (Aichi, Japan) |
Equipment to produce radiators, etc. | 323 | Nov. 2019 | Mar. 2021 |
| Shiga Works (Shiga, Japan) |
Equipment to produce radiators, etc. | 946 | Aug. 2018 | Mar. 2021 |
| T.RAD North America, Inc. (Kentucky, USA) |
Equipment to produce radiators, etc. | 1,462 | May 2019 | Dec. 2020 |
| T.RAD (Thailand) Co., Ltd. (Chachoengsao, Thailand) |
Equipment to produce radiators, etc. | 540 | Feb. 2020 | Dec. 2020 |
| PT. T.RAD Indonesia (Bekasi, Indonesia) |
Equipment to produce radiators, etc. | 398 | Jul. 2019 | Dec. 2020 |
| T.RAD Czech s.r.o. (Unhost, Czech Republic) |
Equipment to produce radiators, etc. | 353 | Apr. 2019 | Dec. 2020 |
| T.RAD (Changshu) Co., Ltd. (Changshu, China) |
Equipment to produce radiators, etc. | 248 | Mar. 2020 | Dec. 2020 |
| T.RAD (Zhongshan) Co., Ltd. (Zhongshan, China) |
Equipment to produce radiators, etc. | 223 | Oct. 2019 | Dec. 2020 |