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5. Johnson Electric Machinery Factory Co., Ltd. (Formerly Johnson Electric Group) Business Report FY ended Mar. 2024

Johnson Electric Machinery Factory Co., Ltd. (Formerly Johnson Electric Group) Business Report FY ended Mar. 2024

<Sales by Region>　

Asia
-The company's sales increased by 10% y/y, compared with an 8% increase in light vehicle production in the region. Revenues showed strong growth in several product segments, especially in vision systems, braking systems, pumps, thermal management, closure systems and powdered metal components due to new product launches and higher volumes. The Automotive Products Group outperformed the overall trend in light vehicle production in the region, although a less favorable customer mix led to slower growth in engine cooling systems, which slowed overall growth in the region.

Europe, Middle East and Africa
-The company's sales increased by 13% y/y, compared with a 7% increase in light vehicle production in the region. Revenue increased in most segments, with the highest growth in thermal management, engine and fuel management, electromechanical oil pumps, vision systems, and braking systems due to higher sales volumes and new project wins.

Americas
-The company's sales increased by 9% y/y, compared with an 6% increase in light vehicle production in the region. Revenue increased in most segments, with the highest growth in powdered metal components, oil pumps, thermal management and brake systems due to market growth and the success of several customer projects.

New products

-In 2024, the company developed a new high-efficiency Electric Power Steering (EPS) motor. This innovative product is designed to provide a smooth and responsive driving experience while reducing fuel consumption and emissions. (From a press release dated December 18, 2024)

-In 2023, the company launched a 48V cooling fan module with an output of up to 1.5kw that meets the most stringent cooling performance requirements. Reducing emissions and increasing vehicle electrification requires higher cooling performance and cooling efficiency. Efficient cooling performance is essential to maintaining optimal vehicle performance, reducing emissions, and extending service life. Johnson Electric's 48V cooling fan module provides high airflow and excellent cooling performance in hot climates and when the engine is under high load. The 48V cooling fan motor is an evolution of Johnson Electric's existing 12V high-efficiency motor platform, with the highest safety standards and most advanced functions. It also features electronic device sealing (IP69K), PWM-LIN-CAN, comprehensive self-diagnostics, self-protection functions, and electrical isolation. Cooling fans and wind shields can be customized according to specific air volume targets and vehicles. (From a press release dated December 18, 2023)

Oversea development

-Mexico-Now reported that China-based Johnson Electric, a major global supplier of automotive components, is planning an expansion of their plant in Zacatecas, which is currently their sole manufacturing facility in Mexico. It is also among the top employers in the state. Although the details of the expansion have not yet been disclosed, it is expected to have a positive impact on the local economy, mainly in the generation of jobs, as well as in the advancement of the industrialization of the state. Johnson Electric is currently present in more than 20 countries. In Zacatecas they started operations in 2012. Later, in 2015, it made an investment of USD 50 million to open a second plant in the state. The products manufactured in these plants supply the industry in Mexico, the United States and Brazil. (Mexico Now article dated May 16, 2023)

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.

Exhibitions

-Johnson Electric announced that it will be present at the 20th Shanghai International Automobile Industry Exhibition (Auto Shanghai 2023) to be held on April 18-27. Johnson Electric will showcase its NEV Thermal Management Solutions, Smart E-drive & Chassis Solutions, Smart Cabin Solutions, and Smart Vision Solutions. (From a press release dated April 11, 2023)