Mikuni Corporation Business Report FY2009

Business Highlights

Financial Overview

(in millions of JPY)
  FY2009 FY2008 Rate of Change (%) Factor
Sales 65,256 87,902 (25.8) -
Operating income (1,947) (486) - -
Ordinary income (2,182) (1,399) - -
Net income (4,642) (2,483) - -
Automotive Components Division
Sales 45,870 61,077 (24.9) -Sales of automotive-related products as a whole declined, by being negatively-affected by dismay in the economy, despite such favorable factors as growing demand in the Chinese market, a spur to increase demand due to tax incentives or subsidies for eco-cars in the domestic market, new products launches and an increase in exports.
Operating income (2,165) (460) - -


-The Company announced that its high-performance active pedal is used in the new Fuga produced by Nissan Motor Co., Ltd. For the Company, this is the first major business with Nissan in areas other than fuel supply systems and engine related products. The Company's advanced active pedal functions as a cruise control system by helping the driver keep a safe distance between the vehicle and the car traveling ahead. It also supports fuel-efficient driving by preventing excessive amount of fuel to be consumed especially when the vehicle is starting or gathering speed. Delivery of the active pedal already began in October. The product is assembled at the Company's Kikugawa Plant in Shizuoka Pref. using controllers manufactured at its Morioka Plant in Takizawa, Iwate Pref. (From an article in the Nikkan Jidosha Shimbun on Nov. 25, 2009)

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


R&D Expenditure

(in millions of JPY)
  FY2009 FY2008 FY2007
Overall 3,160 4,047 4,433
Automotive products 881 1,208 1,207

Automotive Products
-The Company is promoting R&D of control technology, actuator technology, sensing technology and material technology for computerized control fuel injection systems and engine components.
-The Company is making technological developments for CO2 reduction, as well as for reducing fuel consumption and vehicle electrification.

R&D Activities

-Development of air intake module for four-wheel vehicles and development of a new resin intake manifold.
-Development and mass production of a new electronically-controlled throttle body for four-wheel vehicles.
-Development and mass production of variable valve-timing transmission (VVT), and new generation
-Development of new engine exhaust gas control valve.
-Development and mass production of an electric vacuum for electric vehicles.
-Development of new coolant circulation pumps and coolant controlling valves.
-Development of flow control valves and hydrogen sensors for fuel cell vehicles.
-Development of new pressure sensors and new position sensors.

Investment Activities

Investment Expenditure

(in millions of JPY)
  FY2009 FY2008 FY2007
Overall 3,787 6,171 5,089
Automotive products 3,231 5,207 3,907

-The automotive division focused its investment activities on building new plant facilities, developing new products, strengthening basic studies, launching production of new models, and streamlining operations.

New Equipment Installment (Automotive segment)

(As of Mar. 31, 2010)

Company/Plant Location Estimated amount
of investment
( in millions of JPY )
Period of the project
From To
Odawara Plant Kanagawa Pref., Japan 139 Apr. 2010 Mar. 2011
Morioka Plant Iwate Pref., Japan 494 Apr. 2010 Mar. 2011
Kikukawa Plant Shizuoka Pref., Japan 552 Apr. 2010 Mar. 2011
Mikuni (Thailand) Co., Ltd. Ayutthaya, Thailand 819 Jan. 2010 Dec. 2010
Mikuni (Shanghai) Co., Ltd. Shanghai, China 322 Jan. 2010 Dec. 2010
PT. Mikuni Indonesia Jawa Barat, Indonesia 437 Jan. 2010 Dec. 2010
Mikuni Partec Co., Ltd. Shizuoka Pref., Japan 283 Apr. 2010 Mar. 2011