Financial Overview

(in million JPY)

	FY ended Nov. 30, 2013	FY ended Nov. 30, 2012	Rate of Change (%)	Factors
Overall
Sales	19,109	19,624	(2.6)	-
Operating income	336	462	(27.3)	-
Ordinary income	569	583	(2.4)	-
Net income	289	273	5.9	-
Automotive Components Division
Sales	12,424	13,912	(10.7)	-Production decreased due to the termination of the eco-car incentive program.
Operating income	26	54	(51.9)	-

R&D Expenditure

(in million JPY)

	FY ended Nov. 30, 2013	FY ended Nov. 30, 2012	FY ended Nov. 30, 2011
Overall	58	57	50
-Automotive Components Division	15	15	22
Personnel	10	9	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.
-The Company has established R&D functions at each division, since applications and production methods vary considerably by business segment.
-The Development headquarters is engaged in new products that do not belong to existing product groups.

Recent Developments

<Automotive Components Division>
-The Company has been working development for a new method for press working.

Capital Expenditure

(in million JPY)

	FY ended Nov. 30, 2013	FY ended Nov. 30, 2012	FY ended Nov. 30, 2011
Overall	1,521	756	438
-Automotive Components Division	1,312	612	385

-In FY ended Nov. 30, 2013, the Company focused its capital investment activities on upgrading its production equipment to improve operational efficiency.
-The Automotive Division has no plans to make any major investment as of Nov. 30, 2013.