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  5. Jeco Co., Ltd. Business Report FY ended Mar. 2015

Jeco Co., Ltd. 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 24,487 25,148 (2.6) -
Operating income 1,558 2,202 (29.2) -
Ordinary income 1,783 2,342 (23.9) -
Net income 1,316 1,639 (19.7) -
Sales by region
Japan 19,090 19,495 (2.1) -Production of air conditioner panels increased, while production of electronic throttle motors and other related products decreased.
Asia 5,397 5,652 (4.5) -Sales decreased year-on-year, partly because the previous fiscal year at Jeco Autoparts Philippines covered 15 months due to a change in its accounting period.


>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)

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
(%)
Overall
Sales 21,000 24,487 (14.2)
Operating income 600 1,558 (61.5)
Ordinary income 600 1,783 (66.3)
Net income 450 1,316 (65.8)

R&D Expenditure

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Overall 712 621 559
% of total sales 2.9 2.5 2.5


-The Company engaged in R&D activities to enhance the competitiveness of mainly its automotive display panels and equipment (such as clocks, air-conditioning control panels, etc.) and sensors.

Capital Expenditure

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Overall 1,419 1,179 835


-The Company invested JPY 1,274 million in Japan to expand, enhance, and strengthen its capacities to develop new product items.
-In Asia, the Company invested JPY 145 million in equipment and facilities to develop new product items.

Planned Capital Investments

 (As of Mar. 31, 2015)
Name
Location		 Type of facility Planned investment amount
(in million JPY)		 Start Finish Production capacity increase on completion
Jeco Co., Ltd.
Headquarters/Plant
(Saitama Pref., Japan)		 Automobile parts assembly facility 1,076 Apr. 2014 Mar. 2016 Slight increase
Facility producing dies and tools 687 Apr. 2014 Mar. 2016 Slight increase
Non-production facility 129 Apr. 2014 Mar. 2016 Slight increase
Nagano Jeco Co., Ltd.
Headquarters/Plant
(Nagano Pref., Japan)		 Automobile parts assembly facility 107 Apr. 2014 Mar. 2016 Slight increase
Jeco Autoparts Philippines, Inc. Headquarters/Plant
(Laguna, Philippines)		 Automobile parts assembly facility 47 Apr. 2014 Mar. 2016 Slight increase

Data

  Mar. 2015 Mar. 2014 Mar. 2013
Japan 547 559 563
Asia 121 108 92
Total 668 667 655

Sales by Geographic Area

(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
Japan 19,090 771 19,495 939 18,970 850
Asia 5,397 791 5,652 1,297 3,038 277
Adjusted amount - (4) - (35) - (11)
Total 24,487 1,558 25,148 2,202 22,008 1,116

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 (Thousand yen) 21,391,302 20,648,233 22,008,648 25,148,316 24,487,648
Income from ordinary business activities (Thousand yen) 1,300,037 622,691 1,203,946 2,342,304 1,783,858
Net income (Thousand yen) 384,266 949,157 935,348 1,639,917 1,316,907
Comprehensive income (Thousand yen) 339,185 975,477 1,026,465 1,744,634 1,673,839
Net assets (Thousand yen) 9,571,943 10,355,028 11,225,407 12,791,945 13,852,234
Total assets (Thousand yen) 15,832,879 16,638,599 17,210,278 18,944,789 20,293,363
Book value per share (yen) 566.50 613.40 664.82 760.32 823.26
EPS (yen) 22.65 56.64 55.81 98.13 78.99
Diluted EPS - - - - -
Net asset ratio (%) 60.0 61.8 64.7 66.9 67.6
ROE (%) 4.1 9.6 8.7 13.8 10.0
PER 11.6 5.3 5.6 4.9 6.3
Cash flow from operating activity (Thousand yen) 3,165,559 796,038 1,930,726 2,273,694 2,301,462
Cash flow from investment activity (Thousand yen) (470,371) (853,600) (695,271) (926,479) (1,239,916)
Cash flow from financial activity (Thousand yen) (264,907) (192,088) (155,238) (257,772) (263,667)
Balance at the term-end of cash and cash equivalents (Thousand yen) 6,050,195 5,800,858 6,894,578 8,020,387 8,971,702
Number of employees 650 660 655 667 668

 

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 (Thousand yen) 20,282,019 19,423,010 20,551,801 21,018,492 20,994,147
Income from ordinary business activities (Thousand yen) 1,318,638 607,285 695,794 1,272,456 1,430,016
Net income (Thousand yen) 421,667 855,415 523,638 798,345 1,120,343
Paid-in Capital (Thousand yen) 1,563,777 1,563,777 1,563,777 1,563,777 1,563,777
Number of stock outstanding 16,758,056 16,758,056 16,758,056 16,758,056 16,758,056
Net assets (Thousand yen) 8,920,027 9,611,504 10,048,635 10,630,204 11,257,030
Total assets (Thousand yen) 14,181,170 14,926,298 14,922,285 15,558,473 16,527,780
Book value per share (yen) 532.28 573.57 599.67 637.58 675.28
Divided per share (yen) 7.00 9.00 11.00 15.00 15.00
EPS (yen) 24.86 51.04 31.24 47.77 67.20
Diluted EPS (yen) - - - - -
Net asset ratio (%) 62.9 64.4 67.3 68.3 68.1
ROE (%) 4.8 9.2 5.3 7.7 10.2
PER 10.6 5.9 9.9 10.1 7.4
Payout ratio (%) 28.2 17.6 35.2 31.4 22.3
Number of employees 410 413 412 409 402