Financial Overview

(in millions of JPY)

	FY2011	FY2010	Rate of Change (%)	Factors
Overall
Sales	16,228	18,471	(12.1)	-
Operating income	117	346	(66.2)	-
Ordinary income	187	487	(61.6)	-
Net income	73	266	(72.5)	-
Automotive Components Business
Sales	11,822	13,325	(11.3)	-The Company had to reduce its production volume, as automakers suspended operations in the aftermath of the great earthquake in March.

R&D Expenditure

(in millions of JPY)

	FY2011	FY2010	FY2009
Overall	50	46	49
Personnel	7	8	7

R&D Structure

-Based on its long-term vision to develop innovative technology and products that translate into new areas of business, the R&D focus is set on developing IT related products and derivative technologies, which are secondary to the Company's existing business.
-Each division is responsible for different uses for and manufacturing methods of its products. Each division has its own R&D function.
-The Development headquarters is engaged in new products that do not belong to existing product groups.

Recent Developments

<Automotive Components Division>
-The Company spent 22 million yen on R&D activities at the Automotive Components Division in FY2011
-The Company conducted simulation of press forming.

Capital Expenditure

(in millions of JPY)

	FY2011	FY2010	FY2009
Overall	438	350	331

-Investment in the automotive components business totaled 385 million yen in FY2011
-In FY2010, the Company focused its capital investment activities on upgrading its production equipment to improve operational efficiency.
-The Automotive Parts Division has no plans to make any major investment as of Nov. 30, 2010.