Oiles 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 | 61,897 | 59,380 | 4.2 | - |
Operating income | 6,084 | 6,193 | (1.8) | - |
Ordinary income | 6,637 | 7,119 | (6.8) | - |
Net income | 4,300 | 4,203 | 2.3 | - |
Bearing business | ||||
Sales | 43,057 | 40,902 | 5.3 | -Automotive products: Sales increased due to more business with non-Japanese OEMs and winning new orders from customers in emerging countries. |
Operating income | 5,587 | 5,562 | 0.4 | - |
New Mid-term Management Plan (covering the fiscal year ended March 2015 to the fiscal year ending March 2023)
Period | Sales (in billion JPY) | Profit margin (%) | ROE | % of sales generated outside Japan |
【Phase 1】 Between the fiscal year ended March 2015 and the fiscal year ending March 2017 |
72.0 | 11.0 | - | - |
【Phase 2】 Between the fiscal year ending March 2018 and the fiscal year ending March 2020 |
85.0 | 11.9 | - | - |
【Phase 3】 Between the fiscal year ending March 2021 and the fiscal year ending March 2023 |
100.0 | 15.0 | 10% or more | 50% or more |
Initiatives:
-Transact more business in major products with non-Japanese OEMS.
-Develop new uses and materials; expand sales to Japanese OEMs.
Outlook for FY ending Mar. 31, 2016 |
(in million JPY) |
FY ending Mar. 31, 2016 (Forecast) |
FY ended Mar. 31, 2015 (Actual Results) |
Rate of Change (%) |
|
Sales | 66,000 | 61,897 | 6.6 |
-Bearing business | 46,200 | 43,057 | 7.3 |
Operating income | 6,800 | 6,084 | 11.8 |
Ordinary income | 7,100 | 6,637 | 7.0 |
Net income | 4,600 | 4,300 | 7.0 |
>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
R&D Expenditure |
(in million JPY) |
FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
Group | 2,882 | 2,491 | 2,346 |
-Bearing business | 1,886 | 1,685 | 1,542 |
R&D Employees
FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
Total | 190 | 184 | 177 |
R&D Facilities
-The Company has a technical center at its Fujisawa Sales Office located in Kanagawa Prefecture.
R&D Activities
Bearings business (automotive sector)
-During the fiscal year ended Mar. 2015, the Company conducted the following R&D activities:.
- Created new markets by working in cooperation with major OEMs in Europe.
- Developed materials under the idea of "identical quality/identical costs" throughout the world by making use of the Company's global production operations and R&D network so as to strengthen its cost-competitiveness globally.
- In Japan, developed bearings that achieve high-performance in oil and damping devices that improve safety and comfort, meeting the needs for improved environmental performance such as improving fuel consumption and making products smaller, lighter, and quieter.
Capital Expenditure |
(in million JPY) |
FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
Group | 4,045 | 4,934 | 4,054 |
-Bearings business | 2,756 | 4,333 | 3,313 |
-Investment during the fiscal year that ended March 2015 was mainly to renew facilities and equipment at plants, and acquire facilities and equipment to streamline operations.
-The Company mainly invested in bearings at its Fujisawa facility.
Planned Capital Investments for Bearing Facilities |
(As of Mar. 31, 2015) |
Company or Office | Purpose of Investment | Planned amount (in million JPY) |
Construction start | Planned completion |
Fujisawa Plant (Kanagawa Pref., Japan) |
Testing and R&D facilities | 1,460 | Feb. 2013 |
Jun. 2016 |
Production facility | 727 | May 2014 |
Mar. 2016 |
|
Shiga Plant (Shiga Pref., Japan) |
Production facility | 846 | Feb. 2012 |
Mar. 2016 |
Oita Plant (Oita Pref., Japan) |
Production facility | 372 | Aug. 2014 |
Apr. 2016 |
Unipla Corporation (Saitama Pre., Japan) |
Production facility | 149 | Jul. 2014 |
Mar. 2016 |
Riko Kihara Co., Ltd. (Niigata Pref., Japan) |
Production facility | 52 | Nov. 2014 |
Oct. 2015 |
Luby Corporation (Fukushima Pref., Japan) |
Production facility | 70 | Sep. 2014 |
Mar. 2016 |
OK Industries, Ltd. (Shiga Pref., Japan) |
Production facility | 39 | Jun. 2015 |
Sep. 2015 |
Oiles America Corporation (North Carolina, USA) |
Production facility | 322 | Aug. 2013 |
Dec. 2015 |
Oiles Deutschland GmbH (Hessen, Germany) |
Test and development facility | 146 | Apr. 2015 |
Dec. 2015 |
Oiles Czech Manufacturing s.r.o (Kadan, Czech Republic) |
Production facility | 160 | Jul. 2014 |
Dec. 2015 |
Shanghai Oiles Bearing Inc. (Shanghai, China) |
Production facility | 123 | Feb. 2015 |
Sep. 2015 |
Oiles Suzhou Corporation (Jiangsu, China) |
Production facility | 466 | Jul. 2015 |
Dec. 2015 |
Oiles (Thailand) Company Limited (Rayon, Thailand) |
Production facility | 59 | Jan. 2015 |
Sep. 2015 |
Oiles India Private Limited (Haryana, India) |
Production facility | 124 | Dec. 2014 |
Oct. 2015 |
Data
Division | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Bearings | 1,396 | 1,299 | 1,292 |
Structural Equipment | 165 | 158 | 160 |
Construction Equipment | 153 | 144 | 132 |
Other | 9 | 10 | 11 |
In common | 195 | 194 | 192 |
Total | 1,918 | 1,805 | 1,787 |
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 | |
Bearings | 43,057 | 5,587 | 40,902 | 5,562 | 35,802 | 4,046 |
Structural Equipment | 11,308 | 192 | 10,722 | 197 | 10,542 | 303 |
Construction Equipment | 6,356 | 293 | 6,606 | 428 | 6,109 | 339 |
Others | 1,174 | 11 | 1,148 | 4 | 1,093 | 13 |
Total | 61,897 | 6,084 | 59,380 | 6,193 | 53,547 | 4,702 |
Sales by Geographic Area |
(in million JPY) |
FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
Japan | 40,853 | 41,124 | 40,158 |
North America | 6,718 | 5,958 | 4,490 |
Europe | 2,473 | 2,149 | 1,663 |
Asia | 11,238 | 9,714 | 6,993 |
Others | 613 | 432 | 241 |
Total | 61,897 | 59,380 | 53,547 |
Consolidated |
>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.) |
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) | 51,715 | 51,981 | 53,547 | 59,380 | 61,897 |
Income from ordinary business activities (million yen) | 6,316 | 4,919 | 5,602 | 7,119 | 6,637 |
Net income (million yen) | 3,536 | 2,957 | 3,332 | 4,203 | 4,300 |
Comprehensive income (million yen) | 3,171 | 2,552 | 4,786 | 6,869 | 7,415 |
Net assets (million yen) | 49,796 | 49,860 | 51,662 | 56,735 | 60,210 |
Total assets (million yen) | 63,219 | 62,149 | 64,040 | 71,845 | 75,322 |
Book value per share (yen) | 1,339.58 | 1,384.25 | 1,481.48 | 1,620.00 | 1,771.43 |
EPS (yen) | 93.47 | 81.79 | 95.31 | 122.94 | 128.01 |
Diluted EPS (yen) | - | - | - | - | - |
Net asset ratio (%) | 77.5 | 78.8 | 79.0 | 77.2 | 78.0 |
ROE (%) | 7.2 | 6.0 | 6.7 | 7.9 | 7.5 |
PER | 14.25 | 16.61 | 15.87 | 14.96 | 18.31 |
Cash flow from operating activity (million yen) | 3,740 | 4,502 | 6,347 | 4,407 | 6,545 |
Cash flow from investment activity (million yen) | (755) | (2,871) | (4,332) | (4,227) | (3,827) |
Cash flow from financial activity (million yen) | (3,572) | (2,543) | (3,034) | (508) | (3,787) |
Balance at the term-end of cash and cash equivalents (million yen) | 13,319 | 12,280 | 11,603 | 11,890 | 11,196 |
Number of employees | 1,665 | 1,706 | 1,787 | 1,805 | 1,918 |
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) | 38,908 | 37,843 | 38,105 | 40,491 | 39,650 |
Income from ordinary business activities (million yen) | 5,731 | 3,648 | 3,960 | 4,694 | 4,103 |
Net income (million yen) | 3,132 | 2,195 | 2,709 | 3,066 | 2,993 |
Paid-in Capital (million yen) | 8,585 | 8,585 | 8,585 | 8,585 | 8,585 |
Number of stock outstanding (thousand) | 33,917 | 31,917 | 31,917 | 31,917 | 36,300 |
Net assets (million yen) | 43,775 | 43,311 | 43,511 | 46,208 | 46,384 |
Total assets (million yen) | 55,044 | 53,340 | 53,198 | 56,861 | 56,829 |
Book value per share (yen) | 1,197.37 | 1,224.90 | 1,273.81 | 1,349.67 | 1,398.90 |
Dividend par share (yen) | 35 | 40 | 40 | 50 | 50 |
EPS (yen) | 82.79 | 60.71 | 77.48 | 89.66 | 89.10 |
Diluted EPS (yen) | - | - | - | - | - |
Net asset ratio (%) | 79.5 | 81.2 | 81.8 | 81.3 | 81.6 |
ROE (%) | 7.1 | 5.0 | 6.2 | 6.8 | 6.5 |
PER | 16.09 | 22.37 | 19.52 | 20.51 | 26.31 |
Payout ratio (%) | 35.2 | 54.9 | 43.0 | 46.5 | 56.1 |
Number of employees | 749 | 756 | 757 | 764 | 775 |