Financial Overview

(in million JPY)

	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011	Rate of change (%)	Factors
Sales	110,510	117,704	(6.1)	-
Operating income	5,331	6,400	(16.7)	-
Ordinary income	5,358	5,678	(5.6)	-
Net income	2,407	6,095	(60.5)	-

Business Overview

<Japan>
-The Company was able to win new program business from Toyota for its energy-saving and environmentally friendly vehicle models, delivering door-sashes for "Prius α", and window regulators for both "Aqua" and "Mira e:S".
-The Company was awarded the Weight-saving Technology Award from Daihatsu for the window regulators that it delivered to "Mira e:S".

<USA>
-Shiroki North America, Inc. was awarded the North American Excellence in Quality Award from Nissan North America for vehicle-body parts. Nissan NA gave recognition to the high standards in quality of the Company's doors. Also, as a result of this, the Company was awarded new program business for five more of Nissan NA's vehicle models.

<China>
-Financial performance at the China operations significantly increased year-on-year as a result of the successful streamlining initiatives that Guangzhou Shiroki implemented to improve its production operations and its procuring of dies and facilities locally. This was in addition to the aggressive sales activities that the Company conducted in order to increase business with OEMs operating in China.

<Thailand>
-Although Shiroki Corp. (Thailand) Ltd.'s revenue for the fiscal year temporarily dropped because of lower production volumes at its customers due to the flooding that occurred in the country, the Company forecasts that its business performance will recover due to the rise in demand that is once again showing signs of growth in Thailand and due to greater demand for products destined for export to neighboring countries.

<Indonesia>
-The Company established P.T. Shiroki Indonesia in August 2011 and began constructing a plant to mass-produce window regulators and seat adjusters for OEMs operating locally in the country.

<India>
-The Company provided greater technical support to its subsidiary, Technico Industries Ltd., which was able to launch commercial production of window regulators and seat adjusters for Maruti Suzuki India "Swift". As a result of this effective investment in Technico Industries, its subsidiary was able to ensure profits.

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

R&D Expenditure

(in million JPY)

	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011	FY ended Mar. 31, 2010
Automotive components business	2,714	2,392	2,154

Recent R&D Achievements (Automotive components business)

-Next-generation power seats
-Next generation manual seats
-New wire-type regulators
-New arm-type regulators
-New door frames

Technology Licensing-in Agreement

(As of Mar. 31, 2012)

Company (Country)	Area of partnership	Contract period
Keiper GmbH & Co. (Germany)	Seat recliners	Apr. 1, 1988 - Mar. 31, 2013

Technology Licensing-out Agreement

(As of Mar. 31, 2012)

Company (Country)	Area of partnership	Contract period
NHK Spring (Thailand) Co., Ltd. (Thailand)	Seat recliners	Dec. 10, 1990 - Dec. 09, 2012
	Seat adjusters	Oct. 21, 1994 - Oct. 20, 2012
Summit Laemchabang Auto Body Co. (Thailand)	Door frames	Feb. 21, 1994 - Dec. 31, 2012
Asan Co., Ltd. (Korea)	Door frames	April 12, 2006 - Until completion of the Project
RG Brose (South Africa)	Window regulators	Nov. 5, 2004 - Mar. 31, 2013
Brose do Brasil (Brazil)	Window regulators	May 2, 2005 - Mar. 31, 2015
Technico Industries Ltd. (India)	Seat recliners Seat adjusters	Feb. 18, 2010 - Until mass production ceases
	Window regulators	Nov. 15, 2010 - Until mass production ceases
	Window regulators Seat recliners Seat adjusters	July. 23, 2011 - Until mass production ceases

Capital Expenditure

(in million JPY)

	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011	FY ended Mar. 31, 2010
Overall	3,924	2,053	5,439

-Most of the Company's capital investment was devoted to the automotive component business. The Company improved facilities in order to improve productivity and reduce cost and prepared the facilities to produce products for new vehicle models.

Investments Outside Japan

<Indonesia>
-The Company, has announced that it will establish a wholly owned production company in Indonesia to manufacture automotive interior components. With the new establishment, the company intends to meet an expected increase in demand from customers, since vehicle production in the country is on the rise. The subsidiary, PT. Shiroki Indonesia, will produce window regulators and seat products in Bekasi, West Java. It will launch production in the second half of 2012, aiming to achieve sales of approximately Rp. 170 billion (about 1.5 billion yen) by 2015. The new company will be formed in September with an initial capital of 2.5 million dollars. The subsidiary will be led by Naoki Hiragushi, now a factory manager of Shiroki Corp. (Thailand) Ltd. The 19,000-square-meter facility is going to employ 70 people by 2015. (From an article in the Nikkan Jidosha Shimbun on July 29, 2011)

Planned Capital Investment

(As of Mar. 31, 2012)

Company name (Location)	Equipment to be installed	Estimated amount of investment (in million JPY)	Project period
			From	To
Fujisawa plant -headquarters (Kanagawa Pref., Japan)	Manufacturing equipment	359	Apr. 2012	Mar. 2013
Nagoya plant (Aichi Pref., Japan)	Manufacturing equipment	1,398	Apr. 2012	Mar. 2013
Toyokawa plant (Aichi Pref., Japan)	Manufacturing equipment	1,193	Apr. 2012	Mar. 2013
Osaka plant (Osaka, Japan)	Manufacturing equipment	219	Apr. 2012	Mar. 2012
Toyokawa head office (Aichi Pref., Japan)	Testing equipment	233	Apr. 2012	Mar. 2012
Kyusyu Shiroki Co., Ltd. Fukuoka Pref., Japan	Manufacturing equipment	101	Apr. 2012	Mar. 2012
Shiroki North America, Inc. (Tennessee, USA)	Manufacturing equipment	204	Jan. 2012	Dec. 2012
Shiroki-GA, LLC (Georgia, USA)	Manufacturing equipment	598	Jan. 2012	Dec. 2012
Shiroki-GT, LLC (Tennessee, USA)	Manufacturing equipment	60	Jan. 2012	Dec. 2012
Shiroki (Thailand), Co., Ltd. (Chonburi, Thailand)	Manufacturing equipment	125	Jan. 2012	Dec. 2012
Guangzhou Shiroki Corp. (Guangdong, China)	Manufacturing equipment	487	Jan. 2012	Dec. 2012