EXEDY 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 | 256,011 | 234,262 | 9.3 | -Sales growth from new products and new facilities in India and Mexico. -Favorable currency translation due to the weak yen. |
| Operating income | 17,887 | 19,434 | (8.0) | - |
| Ordinary income | 19,582 | 21,024 | (6.9) | - |
| Net income | 9,503 | 12,268 | (22.5) | - |
| MT business | ||||
| Sales | 71,447 | 67,649 | 5.6 | -Greater number of orders from OEMs and strong sales of after-service products. |
| Operating income | 9,374 | 10,226 | (8.3) | - |
| AT business | ||||
| Sales | 156,947 | 141,859 | 10.6 | -Greater number of orders from OEMs and transmission makers, and favorable currency translation due to the weak yen. |
| Operating income | 9,797 | 10,422 | (6.0) | - |
Production
-The Company announced that it has produced 100 million torque converters for automatic transmissions since it began their production in 1973. Exedy started developing torque converters in 1958 when the company was mainly manufacturing clutches for manual transmissions. Annually, 8.5 million high-performance torque converters are currently produced at the company's six plants in five countries worldwide. Sales of automatic transmission parts make up more than 60 percent of its total sales. (From an article in the Nikkan Jidosha Shimbun on May 30, 2014)
Awards
-The Company announced that its two Chinese subsidiaries, EXEDY DYNAX Shanghai Co., Ltd. and DYNAX Industry (Shanghai) Co., Ltd., received the 2014 GM Supplier Quality Excellence Award from General Motors China. This is the second consecutive year that EXEDY DYNAX Shanghai has received this award and the third consecutive year that DYNAX Industry (Shanghai) has received it. (From a press release on November 21, 2014)
-The Company announced that it has received the Excellent Improvement in Product Competitiveness Award and the Quality Improvement Award from Daihatsu Motor. (From a press release on June 6, 2014)
-The Company announced that its Chinese subsidiary, Exedy Dynax Shanghai Co., Ltd., has received the "2013 Jatco Supplier Award" from Jatco (Guangzhou) Automatic Transmission Ltd. (From a press release on May 20, 2014)
-The Company announced that it has received the 2013 Jatco Supplier Award from Jatco Ltd. (From a press release on April 1, 2014)
Outlook for FY ending 2016
|
(in million JPY) |
| FY ending Mar. 31, 2016 (Forecast) |
FY ended Mar. 31, 2015 (Actual Results) |
Rate of Change (%) |
|
| Sales | 270,000 | 256,011 | 5.5 |
| Operating income | 20,000 | 17,887 | 11.8 |
| Ordinary income | 19,000 | 19,582 | (3.0) |
| Net income | 10,500 | 9,503 | 10.5 |
>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
R&D Expenditures |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| MT business | 884 | 863 | 922 |
| AT business | 1,574 | 1,533 | 1,386 |
| Others | 1,095 | 685 | 736 |
| New products | 1,654 | 1,490 | 1,132 |
| Total | 5,208 | 4,573 | 4,177 |
R&D Structure
-The Company employs 497 engineers, which account for approximately 3 percent of its overall workforce (as of Mar. 31, 2015).
-R&D activities are conducted mainly at the following locations:
| Name | Location |
| Japan | |
| DYNAX Corporation | Hokkaido |
| Outside Japan | |
| EXEDY Chongqing Co., Ltd. | Chongqing, China |
| EXEDY DYNAX SHANGHAI Co., Ltd. | Shanghai, China |
| EXEDY Friction Material Co., Ltd. | Chonburi, Thailand |
| EXEDY ENGINEERING ASIA Co., Ltd. | Chonburi, Thailand |
| EXEDY India Ltd. | Maharashtra, India |
R&D Activities
MT business
-In the area of parts designed for passenger vehicles, the Company developed a duel-mass flywheel and a clutch with a high-performance damper that absorbs the vibration coming from direct-injection diesel engines and lean-burn engines crated to reduce environmental impact and meet the need for lower fuel consumption.
-Development achievements of commercial vehicle parts included manual transmission clutches as well as the computer units, actuator units and motor drivers of automated manual transmissions, which are manual transmission with automatic startup and gear changing functions.
AT business
-The Company is constantly making use of the latest computer systems to conduct research on wet-type clutches, in order to eliminate internal oil leaks, relieve surface pressure, and improve anti-slip performance.
-One development at the AT Business included the successful creation of a torque converter that reduces vibration when the low-speed clutch is disengaged while the lock-up range is increased to the low-speed gear range so as to lower fuel consumption. The Company has won new orders for this torque converter.
-DYNAX, which is a consolidated subsidiary of the Company, is developing friction materials for lock-up clutches and other components for automatic transmissions. It is working on wet type friction materials using non-woven fabrics. In the area of commercial vehicle products, DYNAX is engineering products for dual clutch transmissions. It is already mass producing wet type dual clutches, first for commercial vehicles.
Other business
-For hybrid vehicles, the Company is developing a dry-type multi-plate clutch that disengages the engine from the motor. This clutch can be installed within the motor. It is also engineering dampers to absorb vibration produced when the power source is switched between the engine and the motor, and a damper with a torque limiter, which prevents situations when the engine has to operate under the maximum load level.
Capital Expenditure |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| MT Business | 4,422 | 4,662 | 3,052 |
| AT Business | 19,851 | 16,943 | 11,216 |
| Others | 3,439 | 6,310 | 1,766 |
| Total | 27,713 | 27,915 | 16,034 |
MT business
-The Company invested to rationalize operations and increase production volumes at its own facilities as well as at its subsidiaries in Asia.
AT business
-The Company invested to increase production volumes at its own facilities as well as at its subsidiaries in Japan and Asia.
Investments Outside Japan
-The Company announced that EXEDY DYNAX Europe Ltd., EXEDY's Hungarian subsidiary, will expand its plant to increase its paper-based clutch disc production capacity. The subsidiary will purchase a plot of land of approximately 37,000 square meters next to its existing plant. This will increase the total land area to 57,000 square meters, and extend the plant area by 7,725 square meters to 12,360 square meters. The expanded plant will add seven production lines for a total of ten production lines, and will boost its capacity to approximately 75 million paper-based clutch discs per year. The new facility is scheduled to start operations in January 2016. (From a press release on November 25, 2014)
Planned Capital Investments
-The Group plans to spend JPY 30,000 million on capital investments in the fiscal year ending March 2016. Out of this, JPY 6,810 million will be invested in the manual transmission business and JPY 19,690 million in the automatic transmission business.