Stanley Electric Co., Ltd. Business Report FY ended Mar. 2013
Business Highlights
Financial Overview |
(in millions of JPY) |
FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | Rate of Change (%) | Factors | |
Overall | ||||
Sales | 263,119 | 243,108 | 8.2 | -Factors contributing to the performance included the Company’s improving productivity and reducing costs through innovative activities such as developing products that precisely respond to market needs, strengthening sales activities designed to increase new supply agreements, and eliminating waste in production processes and indirect functions. |
Operating income | 27,475 | 26,439 | 3.9 | |
Ordinary income | 30,148 | 28,580 | 5.5 | - |
Net income | 17,760 | 13,822 | 28.5 | - |
Automotive products | ||||
Sales | 185,451 | 169,927 | 9.1 | -Operating income decreased as a result of poor performance as a whole in the Company’s so-called core revenue-generating regions. Although production volume increased in the U.S.A., the Company reported lower revenue in China, where production volume at Japanese OEMS dropped, and in emerging countries in Asia, where motorcycle production fell. |
Operating income | 21,824 | 22,823 | (4.4) | |
Electronic Components | ||||
Sales | 25,620 | 25,350 | 1.1 | -Sales of LED products designed for the automotive and leisure markets grew. |
Operating income | 2,910 | 2,689 | 8.2 | |
Applied Electronic Products | ||||
Sales | 51,908 | 47,673 | 8.9 | -Income increased as a result of the growing market mainly for automotive control panels. |
Operating income | 4,152 | 3,211 | 8.9 |
Outlook for FY ending Mar 31, 2014
|
(in million JPY) |
FY ending Mar 31, 2014 (Estimate) |
FY ended Mar. 31, 2013 (Result) |
Rate of Change (%) |
|
Sales | 302,000 | 263,119 | 14.8 |
Operating income | 35,500 | 27,475 | 29.2 |
Ordinary income | 37,800 | 30,148 | 25.4 |
Net income | 22,200 | 17,760 | 25.0 |
The Fifth Medium-term Three Year Business Plan (April 2013 through March 2016)
1. Setting up a System for Managing Cash-flow |
-All Group companies are to generate cash regardless of what environmental circumstances they face, creating a framework to make effective use of the cash they created for the future growth of the Group. -Maximize cash generated through sales activities and enhance corporate value based on a solid financial structure. |
2. Growing and Expanding into New Business Areas | -Raise the level of market information, and the analysis of such, to stay ahead of future developments. -Effectively execute schemes for “companywide innovation” that is the basis of creating new products and businesses. |
Mass producing three new types of LED Headlamps
-In January 2013, the Company announced that it is mass-producing three new types of LED headlamps. The new product lineup will allow the company to cater to the requirements for each vehicle class, from economy cars to high-end vehicles.- The projector-type, a compact headlamp requiring less installation space, is fitted to the Mitsubishi "i-MiEV".
- The low-cost, reflector-type headlamp is featured on the "Demio" by Mazda.
- The direct projection type, which has a wide illumination range, is equipped on the Honda "Acura RLX".
>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
R&D
R&D Expenditure |
(in millions of JPY) |
FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2011 | |
Overall | 5,479 | 5,423 | 4,983 |
Automotive products | 1,865 | 1,674 | 1,634 |
R&D Facilities
Name of Facilities | Location |
Research & Development Laboratory | Yokohama City, Kanagawa Pref., Japan |
Tsukuba Research Laboratory | Tsukuba City, Ibaraki Pref., Japan |
Utsunomiya Technical Center | Utsunomiya City, Tochigi Pref., Japan |
Yokohama Technical Center | Yokohama City, Kanagawa Pref., Japan |
Opto Technical Center | Yokohama City, Kanagawa Pref., Japan |
R&D Activities
1) Optoelectronics area-High power white LEDs
-High power red/infrared LEDs
-High speed sensitive image sensors
2) Display area
-Super-high contrast LCDs
-Optical micro-scanners
-Display drive circuits
3) Source of light and illumination area
-Automotive lamps
-LED street lightings and indoor lightings
-Lighting power circuits and power sources
4) Software area
-Distribution light simulation systems
-Optical device optimal design tools
5) Materials and processing area
6) Styling and design of all products
7) Products utilizing above devices and technology
Product Development
Direct projection LED headlamp-In January 2013, the Company announced that it developed a new direct projection LED headlamp that utilizes the Company's advanced lighting control technology and unique LED light source. The new headlamps are featured on the new Honda "Acura RLX", which was unveiled in November 2012. Compared to conventional headlamps, the new LED headlamp can provide more adjustable light distribution as well as a wider view created by a broad illumination range. In addition, the new headlamp is approximately 50 percent thinner than the previous version to improve the flexibility of the vehicle design. The lightweight and low-power lighting unit also contributes to enhancing fuel efficiency. (From an article in the Nikkan Jidosha Shimbun on Jan. 10, 2013)
High contrast LCD
-In April 2012, the Company announced that it has developed the Special-Pure Black Technology (S-PBT) liquid crystal display (LCD), which offers clear vision and high contrast image when viewed from any angle. In conventional LCDs, images have become unclear or hard-to-see from certain angles. The Company's engineers have overcome this challenge by introducing the orientation controlling technology for liquid crystal molecules, which essentially eliminates the concept of "view angle". The new technology is expected to be introduced to various electric devices such as car audio equipment, meters, information terminals and office automation equipment. (From an article in the Nikkan Jidosha Shimbun on April 21, 2012)
Technology Licensing-in Agreement |
(As of Mar. 31, 2013) |
Partner | Technology | Period |
Hitachi Ltd. | Patent on LCD | Validity period of the patent |
Nichia Corporation | Patent on White LED | Validity period of the patent |
Technology Licensing-out Agreement |
(As of Mar. 31, 2013) |
Partner | Content | Term |
Thai Stanley electric Public Co., Ltd. (Thailand) | Technology related to automotive lamps | April 1, 2012- March 31, 2015 |
SL Lighting Corporation (Korea) | Technology related to automotive lamps | April 1, 2009- March 31, 2014 |
Kenmos Technology Co., Ltd. (Taiwan) | Technology related to area light source | April 1, 2013- March 31, 2014 |
Lumax Industries Ltd. (India) | Technology related to automotive lamps | April 1, 2013- March 31, 2014 |
Investment Activities
Capital Expenditure |
(in millions of JPY) |
FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2011 | |
Overall | 31,164 | 23,358 | 25,895 |
Automotive products | 23,767 | 17,565 | 15,577 |
Plans for New Production Facilities |
(As of Mar. 31, 2013) |
Name (Location) |
Type of facility | Total amount (in million JPY) |
Start | Completion |
Wuhan Stanley Electric Co., Ltd. (Wuhan, China) |
Automotive business facilities | 6,752 | Jan. 2012 | Aug. 2016 |