Futaba Industrial Co., Ltd. Business Report FY2008
Business Highlights
| Financial overview | ( in millions of JPY ) |
| - | FY2008 | FY2007 | Rate of change |
Factors |
| Overall | ||||
| Sales | 385,892 | 447,825 | (13.8) | - |
| Operating income | (13,585) | 4,907 | - | Income dramatically decreased due to an increase in costs associated with soaring materials prices in the first half of the year; and to a significant decrease in the volume of products exported in the second half of the year. |
| Ordinary income | (18,587) | 1,745 | - | |
| Current net income | (38,054) | (13,061) | - | |
| Automotive Parts | ||||
| Sales | 369,232 | 426,732 | (13.5) | Production volumes in Japan substantially decreased compared to those of the previous fiscal year because sales overall in the automotive industry declined, which also resulted in less volume exported as well from the autumn onward. |
| Operating income | (14,321) | 2,362 | - | |
R&D
| R&D Expenses | ( in millions of JPY ) |
| - | FY2008 |
FY2007 |
FY2006 |
| Overall | 2,181 | 3,971 | 3,909 |
| Automotive Parts | - | 3,200 | 3,110 |
Most of the Company's R&D activities are for automotive components.
R&D activities
-The Company works on enhancing the development of its main products as well as environmentally friendly products by promoting joint efforts between industry and academia.
- The Company developed smaller and lighter exhaust heat recovery devices , but which actually achieve higher performance in hybrid vehicles, improving fuel efficiency. The Company received more orders for these devices.
-The Company worked on developing PM/NOx treatment devices for diesel vehicles to reduce exhaust emissions. The Company is working to expand their application to construction equipment.
Investment Activities
| Capital Expenditure | ( in millions of JPY ) |
| - | FY2008 |
FY2007 |
FY2006 |
| Overall | 56,220 | 71,369 | 58,091 |
- The Company invested to increase its production capacity, primarily in the automotive parts business (mainly for stamping machines).
- Investments were made to rationalize operations and reduce labor in order to improve its productivity.
- The Company invested to install production equipment (mainly assembly and welding lines and dies and jigs) needed to enable the Company to switch over to handling new products.
- The Company also invested in plant buildings and production facilities by either building new or adding on to existing facilities.
New facilities (Automotive Parts)
| Name (Location) |
Facility type |
Planned investment (in million JPY ) |
Start | End |
| Futaba Industrial Co., Ltd. | ||||
| Head Office, Okazaki Plant (Okazaki City, Aichi) |
Production facility | 510 | Dec., 2007 | Mar., 2010 |
| Midori Plant (Toyota City, Aichi) |
Production facility | 1,200 | Sept., 2007 | Mar., 2010 |
| Chiryu Plant (Chiryu City, Aichi) |
Production facility | 140 | July, 2008 | Mar., 2010 |
| Koda Plant (Nukata gun, Aichi) |
Production facility | 980 | Jan., 2008 | Mar., 2010 |
| R&D facility | 170 | Apr., 2009 | Mar., 2010 | |
| Mutsumi Plant (Okazaki City, Aichi) |
Production facility | 470 | July, 2008 | Mar., 2010 |
| Tahara Plant (Tahara City, Aichi) |
Building and Production facility |
710 | Dec., 2007 | Mar., 2010 |
| Takahashi Plant (Okazaki City, Aichi) |
Production facility | 310 | Mar., 2008 | Mar., 2010 |
| Dies and jigs etc. | 8,000 | Oct., 2007 | Mar., 2010 | |
| Consolidated subsidiary | ||||
| (Futaba Imari Corp. (Saga Pref., Japan) |
Production facility | 1,500 | Mar., 2009 | Mar., 2010 |
| Futaba Hiraizumi Corp. (Iwate Pref., Japan) |
Production facility | 100 | Apr., 2009 | Mar., 2010 |
| APICS Corp. (Aichi Pref., Japan) |
Building and Production facility |
100 | Apr., 2009 | Mar., 2010 |
| FIC America Corp. (Illinois, USA) |
Production facility | 800 | Feb., 2009 | Mar., 2010 |
| Futaba Indiana of America Corp. (Indiana, USA) |
Production facility | 1,800 | Mar., 2009 | Mar., 2010 |
| Futaba Industrial Texas Corp. (Texas, USA) |
Production facility | 100 | Apr., 2009 | Mar., 2010 |
| FIO Automotive Canada Corp. (Ontario, Canada) |
Production facility | 100 | Apr., 2009 | Mar., 2010 |
| Futaba-Tenneco UK Ltd. (Lancashire, UK) |
Production facility | 100 | Jan., 2009 | Dec., 2009 |
| Futaba Industrial U.K. Ltd. (Derbyshire, UK) |
Production facility | 100 | Jan., 2009 | Dec., 2009 |
|
Futaba Czech s.r.o. |
Production facility | 900 | Dec., 2008 | Dec., 2009 |
| Tianjin Shuang Shye Mechanical Industrial Co.,
Ltd. (Tianjin, China) |
Production facility | 1,300 | Aug., 2008 | Dec., 2009 |
| Tianjin Futaba Shye Chan Mechanical Industrial
Co., Ltd. (Tianjin Development Area, China) |
Production facility | 2,300 | Dec., 2007 | Dec., 2009 |
| Guangzhou Futaba Auto Parts Co., Ltd. (Guangzhou, China) |
Building and Production facility |
7,000 | Dec., 2007 | Dec., 2009 |
| Dongguan Futaba Metal Products Co., Ltd (Dongguan, China) |
Production facility | 600 | Jan., 2009 | Dec., 2009 |
| FMI Automotive Components Ltd. (Haryana, India) |
Building and Production facility |
600 | Apr., 2009 | Mar., 2010 |