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Oiles Corp. Business Report FY2010

Business Highlights

Financial Overview

(in millions of JPY)
  FY2010 FY2009 Rate of
Change (%)		 Factors
Overall
Sales 51,715 44,490 16.23 -
Operating income 6,234 3,117 100.0 -
Ordinary income 6,316 3,616 74.6 -
Net income 3,536 2,568 37.6 -
Bearing business
Sales 33,847 27,474 23.1 Sales and profit at the automotive bearing segment increased year-on-year, thanks to new businesses with automakers at home and abroad, as well as growth in demand from Asia and other overseas markets.  
Operating income 4,434 1,863 138.0

R&D

R&D Expenditure

(in millions of JPY)
  FY2010 FY2009 FY2008
Group 2,286 2,229 2,635
% of Sales 4.4% 5.0% 5.1%

-In FY2010, the number of people in charge of research and development is 177.

R&D Activities

Bearings business
- The Company developed brake pedal hiss units to improve the operation performances of the brake-by-wire systems of electric and hybrid vehicles.

Investment Activities

Capital Expenditure

(in millions of JPY)
  FY2010 FY2009 FY2008
Group 1,871 1,235 3,049
Bearings business 1,730 1,006 2,387

Investments outside Japan

- The Company will establish Oiles India Private Limited in India in January 2011. With the establishment of the new entity, Oiles Corporation aims to tap into the Indian market and expand sales in the country. Based in Gurgaon, Haryana State, the new entity is scheduled to be operational in April 2011. Oiles India will be capitalized at 45 million India rupees (Approximately 90 million Japanese yen); it will be invested 99.9 percent by Oiles Corporation and 0.1 percent by Oiles-East Co., Ltd.. (From a press release on November 5, 2010)

New Bearing Facilities

(As of Mar. 31, 2011)

Company or
Office		 Purpose of Investment Planned amount
(in millions of JPY)		 Construction start Planned completion
Fujisawa office Research and testing facilities
 1,231 Jun, 2007 Mar. 2012
Production facility 406 Oct. 2010
 Mar. 2012
Shiga plant Production facility 925 Sep. 2008 Mar. 2012
Oita plant Production facility 389 Apr. 2011 Mar. 2012
Headquarters and other sales offices
 Sales facilities
 11 Apr. 2011 Mar. 2012
UniPra Co., Ltd. Production facility 80 Apr. 2011 Mar. 2012
Luby Industrial Company Ltd. Production facility 130 July 2011 Oct. 2012
Oiles America Corporation Production facility 102 Jun. 2010 Jun. 2011
Shanghai Oiles Bearing Inc. Production facility 82 Mar. 2011 Dec. 2011
Other subsidiaries  Production facilities and others
 111 Jun. 2008 Mar. 2012