ALPHA Corporation Business Report FY ended Mar. 2015
Financial Overview |
(in million JPY) |
| FY ended Mar. 31, 2015 |
FY ended Mar. 31, 2014 |
Rate of Change (%) |
Factors | ||
| Overall | |||||
| Sales | 48,613 | 52,318 | (7.1) | - | |
| Operating income | 1,651 | 1,811 | (8.8) | - | |
| Ordinary income | 2,517 | 2,778 | (9.4) | - | |
| Net income | 2,000 | 857 | 133.4 | - | |
| -Automotive Components Business | |||||
| Sales | Japan | 9,370 | 12,144 | (22.8) | -Sales decreased due to lower production volumes by OEM customers. |
| North America | 12,724 | 12,718 | 0.0 | - | |
| Asia | 19,156 | 20,382 | (6.0) | -Sales decreased due to lower production volumes by OEM customers as a result of sluggish demand in Thailand. | |
| Operating income | Japan | (1,019) | (860) | - | - |
| North America | 204 | (193) | - | -Returned to profitability due to effective rationalization activities. | |
| Asia | 1,833 | 2,213 | (17.2) | - | |
Recent Development Outside Japan
-The Company announced that it will invest an additional INR 80 million (JPY 136 million) in Alpha Security Instruments (India) Private Limited. The fund will be used for expanding production capacity and improve profitability of the Indian operation. The subsidiary was established in 2011 by Alpha and Kyushu Alpha Co., Ltd. and produces key sets and door handles. Its capital will be increased from INR 189 million (JPY 320 million) to INR 269 million (JPY 457 million) when the transaction is completed. (From an article in the Nikkan Jidosha Shimbun on May 15, 2014)
Award
-The Company has received the Global Innovation Award from Nissan Motor Co., Ltd. The Company's "Back Door Sensor," an infrared sensor unit to open the tailgate without touching the vehicle, has been used on the Nissan X-Trail.
Business Policy
-The ratio of sales to the Nissan Group as of the end of FY2014, which ended March 2015, was 60.6%. The Company plans to increase its sales to other OEMs.
R&D Expenditure |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| Overall | 1,443 | 1,277 | 1,398 |
| -Automotive Components | 1,165 | 997 | 1,001 |
Product Development
-The Company is modularizing lighter weight door handles that have collision-safety features, products that were plated and coated by using decorating technology/techniques, and various types of auxiliary parts for these door handles.
Capital Expenditure |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| Overall | 1,672 | 2,507 | 3,517 |
-Major investment activities of Automotive Components in FY ended Mar. 31, 2015 are as follows:
| Company name | Purpose | Capital expenditure (in million JPY) |
| Alpha Industry Queretaro, S.A. de C.V. | Service and maintain manufacturing facilities | 242 |
| Alpha Industry Jalisco, S.A. de C.V. | Build new manufacturing facilities | 374 |
| Alpha (Guangzhou) Automotive Parts Co., Ltd. | Build new manufacturing facilities | 309 |
Planned Capital Investment (Automotive Components) |
(As of Mar. 31, 2015) |
| Name (Location) |
Type of facility | Planned investment (in million JPY) |
Start | Completion |
| Headquarters | ||||
| Gumma Plant (Gunma Pref., Japan) |
Die | 149 | 2015.04 | 2016.03 |
| Machinery to manufacture products | 270 | 2015.04 | 2016.03 | |
| Subsidiaries | ||||
| Alpha Industry (Thailand) Co., Ltd. (Prachinburi, Thailand) |
Machinery to manufacture products | 214 | 2015.04 | 2016.03 |
| Alpha (Guangzhou) Automotive Parts Co., Ltd. (Guangdong, China) |
Buildings | 125 | 2015.04 | 2016.03 |
| Machinery to manufacture products | 164 | 2015.04 | 2016.03 | |
Data
| Mar. 2015 | Mar. 2014 | Mar. 2013 | |
| Automotive Components (Japan) | 379 | 394 | 417 |
| Automotive Components (North America) | 1,461 | 1,471 | 1,038 |
| Automotive Components (Asia) | 1,964 | 2,118 | 2,250 |
| Security Device | 435 | 488 | 144 |
| Corporate (In-common) | 36 | 34 | 41 |
| Total | 4,275 | 4,505 | 3,890 |
Sales by Segment |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | ||||
| Sales | Operating income | Sales | Operating income | Sales | Operating income | |
| Automotive Components (Japan) | 9,370 | (1,019) | 12,144 | (860) | 15,608 | 425 |
| Automotive Components (North America) | 12,724 | 204 | 12,718 | (193) | 9,400 | (531) |
| Automotive Components (Asia) | 19,156 | 1,833 | 20,382 | 2,213 | 15,438 | 1,528 |
| Security Device | 7,361 | 428 | 7,072 | 538 | 6,302 | 526 |
| Corporate and Eliminations | - | 204 | - | 112 | - | (243) |
| Total | 48,613 | 1,651 | 52,318 | 1,811 | 46,749 | 1,705 |
Consolidated |
| FY ended Mar. 31, 2011 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2013 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2015 | |
| Sales (million yen) | 47,337 | 47,674 | 46,749 | 52,318 | 48,613 |
| Income from ordinary business activities (million yen) | 1,939 | 1,837 | 2,788 | 2,778 | 2,517 |
| Net income (million yen) | 1,519 | 1,072 | 1,709 | 857 | 2,000 |
| Comprehensive income (million yen) | 1,055 | 1,123 | 3,593 | 4,346 | 4,614 |
| Net assets (million yen) | 17,707 | 18,463 | 21,680 | 25,590 | 29,844 |
| Total assets (million yen) | 36,569 | 38,901 | 43,279 | 50,881 | 55,468 |
| Book value per share (yen) | 1,779.40 | 1,871.24 | 2,201.94 | 2,593.83 | 3,025.28 |
| EPS (yen) | 159.01 | 112.29 | 178.95 | 89.79 | 209.40 |
| Diluted EPS (yen) | - | - | - | - | - |
| Net asset ratio (%) | 46.5 | 46.0 | 48.6 | 48.7 | 52.1 |
| ROE (%) | 9.1 | 6.2 | 8.8 | 3.7 | 7.5 |
| PER | 5.69 | 10.26 | 5.77 | 11.10 | 6.45 |
| Cash flow from operating activity (million yen) | 3,856 | 1,463 | 955 | 1,034 | 3,580 |
| Cash flow from investment activity (million yen) | (1,947) | (1,782) | (3,356) | (3,864) | (1,201) |
| Cash flow from financial activity (million yen) | (513) | 1,243 | 864 | 1,346 | (1,372) |
| Balance at the term-end of cash and cash equivalents (million yen) | 6,643 | 7,686 | 6,049 | 4,701 | 6,334 |
| Number of employees | 3,130 | 3,271 | 3,890 | 4,505 | 4,275 |
Non Consolidated
| FY ended Mar. 31, 2011 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2013 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2015 | |
| Sales (million yen) | 29,000 | 28,204 | 24,187 | 19,965 | 17,235 |
| Income from ordinary business activities (million yen) | 1,358 | 2,080 | 1,954 | 291 | 760 |
| Net income (million yen) | 1,267 | 687 | 1,552 | (165) | 1,001 |
| Paid-in Capital (million yen) | 2,760 | 2,760 | 2,760 | 2,760 | 2,760 |
| Number of stock outstanding (thousand) | 10,200 | 10,200 | 10,200 | 10,200 | 10,200 |
| Net assets (million yen) | 13,620 | 14,376 | 16,258 | 16,495 | 17,877 |
| Total assets (million yen) | 27,995 | 30,676 | 32,355 | 33,679 | 34,084 |
| Book value per share (yen) | 1,425.82 | 1,505.02 | 1,702.00 | 1,726.80 | 1,871.44 |
| Dividend per share (yen) | 33.00 | 30.00 | 30.00 | 30.00 | 30.00 |
| EPS (yen) | 132.67 | 71.95 | 162.51 | (17.35) | 104.87 |
| Diluted EPS (yen) | - | - | - | - | - |
| Net asset ratio (%) | 48.7 | 46.9 | 50.3 | 48.9 | 52.4 |
| ROE (%) | 9.7 | 4.9 | 10.1 | (1.0) | 5.8 |
| PER | 6.82 | 16.01 | 6.35 | - | 12.90 |
| Payout ratio (%) | 24.9 | 41.7 | 18.5 | - | 28.6 |
| Number of employees | 565 | 547 | 537 | 475 | 462 |