Financial Overview

(in millions of JPY)

	FY ended Mar. 31, 2014	FY ended Mar. 31, 2013	Rate of Change (%)	Factors
Sales	202,292	179,543	12.7	-
Operating income	20,092	15,013	33.8	-
Ordinary income	24,227	17,890	35.4	-
Current net income	14,978	13,269	12.9	-
Transport Equipment Business
Sales	52,641	44,262	18.9	-
Operating income	6,344	4,214	50.5	-

Outlook for FY ending Mar. 31, 2015 (Transport Equipment Business)

(in millions of JPY)

	FY ending Mar. 31, 2015 (Forecast)	FY ended Mar. 31, 2014 (Actual Results)	Rate of Change (%)
Sales	58,300	52,641	10.8
Operating income	8,000	6,344	26.1

Mid-term Management Plan

	FY ending Mar. 31, 2017	FY ending Mar. 31, 2021 Long-term vision
Overall
Sales	280 billion yen ±5%	400 billion yen
Operating income	34 billion yen	60 billion yen
Operating income ratio	12.0%	15.0%
Current net income	24 billion yen	-
ROA	7.5%	11.0%
ROE	15.0%	18.0%
Transport Equipment Business
Sales	71 billion yen	-
Operating income	10.7 billion yen	-
Operating income ratio	15.1%	-

<Transport Equipment Business: Mid-term Strategy for Commercial-vehicle Devices>
-Expand sales overseas mainly in ASEAN markets by making use of its strong product proposals and its facilities in Thailand and India.
-Reduce costs by improving productivity and procuring more local content outside Japan

R&D Expenditure

(in millions of JPY)

	FY ended Mar. 31, 2014	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012
Overall	6,401	5,535	5,200
Transport Equipment Business	1,984	1,828	1,905

-R&D achievements during the fiscal year that ended March 2014 are as follows:
1. Launching oil catchers for commercial vehicles
2. Developing a series of electric vacuum pumps

R&D Structure

-The Technical Headquarters, as the lead overseer of R&D activities, conducts some of the activities such as planning and execution that are left to each of the separate businesses and subsidiaries.

-In November 2013, the Company announced that it has opened the Nabtesco Digital Engineering Center (NDEC) at its plant in Kobe, Japan. Under the CAE & Materials Department of the company's Technology and R&D Division, the new facility will initially install stereolithography rapid prototyping machines manufactured by CMET Inc., Nabtesco's group company. Initially using plastic 3D printers, the company will check images of actual products in advance. In the next phase, Nabtesco plans to install metal 3D printers or computer aided manufacturing (CAM) systems at the new center. By creating prototypes, the company aims to evaluate the strength and basic functions of actual products from an early stage of the development. (From a press release on November 1, 2013)

R&D Facility (Nabtesco Automotive)

Name	Location
Yokosuka Technical Center	Kanagawa Pref., Japan

Capital Expenditure

(in millions of JPY)

	FY ended Mar. 31, 2014	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012
Overall	6,760	10,190	13,524
Transport Equipment Business	1,703	1,962	1,478