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5. Johnson Electric Machinery Factory Co., Ltd.（Formerly Johnson Electric Group） Business Report FY ended Mar. 2023

Johnson Electric Machinery Factory Co., Ltd.（Formerly Johnson Electric Group） Business Report FY ended Mar. 2023

1) Automotive Products Group

-The automotive equipment business accounted for 16% of total sales YoY, the largest percentage of all business segments. Increased demand for electrification products especially was the main reason for the increase in sales.

<Sales by Region>

-Excluding the effect of foreign exchange rates, companywide sales for the fiscal year that ended in March 2023 increased 16%. By region, sales increased 13% in Asia, 17% in Europe, and 19% in the Americas. 
　
Asia
-The company's production of passenger cars in the region grew 13% YoY, compared to an 8% YoY increase last year. Sales increased in several product categories, particularly those in thermal management, closure, power steering, engines, and fuel management. This was due to winning new business, higher sales volumes, a favorable market turnaround, and growth in China's new-energy vehicle market.

Europe
-Sales increased in almost all product categories, up 3% YoY. Sales of products such as thermal-management systems, electromechanical fuel pumps, engine- and fuel-management systems, and power-steering systems were strong. The Company's acquisition of a customer platform was affected by expanded production.

Americas
-Sales increased in several product categories, up 10% YoY. Particularly strong growth was seen in sales of thermal management systems, brake systems, engine-management systems, and powder-metallurgy components such as those used in fuel cells. This was due to a recovery from the semiconductor shortage and the growth of new business acquired over the past several years.

Product development trends

Components for autonomous vehicle power steering
-The company announced the development and market launch of a redundant power steering motor platform for highly automated driving functions. The platform uses brushless motors and a lightweight structure. The optimized battery and structure, as well as advanced algorithms, enable high-speed position feedback and high reliability for steering systems in automated driving, according to the company. The interface allows for customer-specific program integration and co-development, and the platform design allows for the production of motors with different outputs on the same production line, significantly reducing development cycles and R&D costs, according to the company. (From a press release dated April 29, 2022)

R&D Structure

-The Company maintains R&D centers in Germany, UK, Italy, Japan, U.S., China, Israel and Switzerland.

-R&D areas include micro-switches, radiator modules, HVAC, seats, engine management systems, transmissions, braking systems, lamps, power windows, door locks and rear-view mirrors.

-As of March 31, 2023, the Company has mre than 35,000 employees worldwide in Asia, Europe and the Americas, of whom more than 1,500 are engineers.