TDF Corporation Business Report up until FY ended Mar. 2015

Financial Overview (Non Consolidated)

(in millions of JPY)

	FY ended Mar. 31, 2014	FY ended Mar. 31, 2013	Rate of Change (%)	Factors
Sales	14,014	14,053	(0.3)	-
Operating income	(229)	185	-	-Soaring energy expenses by the depreciation of the yen has continued. Maintenance costs of aging equipment.
Ordinary income	(43)	223	-
Net income	151	204	(26.0)

Three-way administrative merger

-The Company, I Metal Technology and Jidosha Buhin Kogyo consolidated their operations through establishing a joint holding company by jointly transferring their equity shares. In Oct. 2013, IJT Technology Holdings Co., Ltd. was established, and these three companies become wholly own subsidiaries of the Company.

Capital Investment

(in millions of JPY)

	FY ended Mar. 31, 2015	FY ended Mar. 31, 2014	FY ended Mar. 31, 2013
Overall	N.A.	2,983	1,495

New Facilities (automotive parts business)

(As of Mar. 31, 2015)

Name	Location	Type of facility	Planned total investment (in millions of JPY)	Construction start month	Planned completion month
Headquarters	Shibata-gun, Miyagi Pref.	Forging equipment (12,800t press equipment)	4,205	Mar. 2012	May 2015

-The Company, based in Miyagi Prefecture, Japan, will upgrade its aging facilities to enhance its domestic production structure. JPY 4 billion will be invested in the installation of a 12,800-ton forging press machine to produce front axles at the headquarters plant. Operation is scheduled to start in June 2015. The new forging press machine is expected to cut the machining time by 30% and reduce the number of employees to about 30% compared to conventional hammer forging machines. Through this modernization, the group intends to improve its production efficiency, while strengthening its operating structure. (From an article in the Nikkan Jidosha Shimbun on February 13, 2015)

Data

Consolidated

	FY ended Mar. 31, 2010	FY ended Mar. 31, 2011	FY ended Mar. 31, 2012	FY ended Mar. 31, 2013	FY ended Mar. 31, 2014 or later
Sales (Thousand yen)	16,127,225	20,624,966	23,083,604	21,893,658	N.A.
Income from ordinary business activities (Thousand yen)	(312,819)	779,425	523,968	677,740
Net Income (Thousand yen)	(369,102)	281,491	421,713	512,214
Comprehensive income (Thousand yen)	-	234,321	422,034	829,183
Net assets (Thousand yen)	6,144,698	6,378,524	6,800,319	8,992,549
Total assets (Thousand yen)	18,160,433	17,687,960	19,147,519	22,507,536
Book value per share (yen)	387.89	402.75	429.43	479.83
EPS (yen)	(23.30)	17.77	26.63	32.35
Diluted EPS (yen)	-	-	-	-
Net asset ratio (%)	33.8	36.1	35.5	33.7
ROE (%)	(5.9)	4.4	6.4	7.1
PER	-	9.0	6.9	6.0
Cash flow from operating activity (Thousand yen)	1,531,251	2,319,725	2,298,651	1,224,160
Cash flow from investment activity (Thousand yen)	(1,263,162)	(979,240)	(445,974)	(812,586)
Cash flow from financial activity (Thousand yen)	499,608	(1,469,106)	(706,707)	2,490,173
Balance at the term-end of cash and cash equivalents (Thousand yen)	1,543,468	1,414,847	2,560,816	5,462,564
Number of employees	570	564	580	590

Non Consolidated

	FY ended Mar. 31, 2010	FY ended Mar. 31, 2011	FY ended Mar. 31, 2012	FY ended Mar. 31, 2013	FY ended Mar. 31, 2014 or later
Sales (Thousand yen)	9,988,475	13,179,889	15,295,953	14,053,032	N.A.
Income from ordinary business activities (Thousand yen)	(805,327)	312,389	409,918	223,553
Net income (Thousand yen)	(937,866)	132,150	362,440	204,627
Paid-in Capital (Thousand yen)	1,694,767	1,694,767	1,694,767	1,694,767
Number of stock outstanding	15,885,928	15,885,928	15,885,928	15,885,928
Net assets (Thousand yen)	3,475,531	3,608,127	4,019,646	4,241,189
Total assets (Thousand yen)	12,887,657	12,126,564	13,285,523	15,035,038
Book value per share (yen)	219.39	227.82	253.83	267.86
Dividend per share (yen)	-	-	2.00	2.00
EPS (yen)	(59.20)	8.34	22.89	12.92
Diluted EPS	-	-	-	-
Net asset ratio (%)	27.0	29.8	30.3	28.2
ROE (%)	(23.9)	3.7	9.5	5.0
PER	-	19.2	8.1	14.9
Payout ratio (%)	-	-	8.7	15.5
Number of employees	363	369	374	373