Financial Overview
|
(in millions of JPY) |
| |
FY2009 |
FY2008 |
Rate of Change (%) |
Factors |
| Overall |
| Sales |
10,049 |
14,446 |
(30.4) |
- |
| Operating income |
(150) |
(451) |
- |
- |
| Ordinary income |
(397) |
(684) |
- |
- |
| Current net income |
(465) |
(760) |
- |
- |
| Automotive component business |
| Sales |
9,885 |
14,121 |
(30.0) |
-Sales of automotive components decreased year-on-year because of falling domestic sales at its major customers. This was the result of a significant decrease worldwide in vehicle production and sales, which started from the fall of 2008. |
Recent Developments in Japan
-The Company announced that it will absorb Ikuyo Technical Development Center (Hiratsuka City, Kanagawa Prefecture), which is its wholly owned subsidiary specialized in the development of synthetic resin technology. The acquisition, which will take place on Oct. 1, will allow the Company to consolidate its management resources and improve business efficiency. The research and development organization will be dissolved after the share transaction is completed. (From an article in the Nikkan Jidosha Shimbun on June 29, 2009)
-The Company plans to promote streamlining of its business operations in order to improve profitability. It formed a work-restructuring promotion committee within the Company on Dec. 1 to start developing specific action plans for manufacturing cost reduction as well as operational improvement. The target of its streamlining efforts is to establish itself so as to be profitable even if the monthly sales should drop down to the high 700 millions of yen through 800 million yen. The work-restructuring promotion committee will clarify the problems by Mar. 2010, and the resulted specific measures will be included in its business plans from the next fiscal year ending in Mar. 2011. (From an article in the Nikkan Jidosha Shimbun on Dec. 10, 2009)
Outlook for FY2010
|
(in millions of JPY) |
| |
FY2010
(forecast) |
FY2009
(Actual) |
Year-on-year Fluctuation |
| Sales |
10,970 |
10,049 |
921 |
| Operating income |
555 |
(150) |
705 |
| Ordinary income |
318 |
(397) |
715 |
| Net income |
272 |
(465) |
737 |
Capital Expenditure
|
(in millions of JPY) |
| |
FY2009 |
FY2008 |
FY2007 |
| Overall |
635 |
721 |
1,464 |
-The Company invested most heavily in the auto parts business.
-The Company spent approximately 330 million yen in dies to manufacture parts for compact SUVs and small trucks.
