Mikuni Corporation Business Report FY2010

Business Highlights

Financial Overview

(in millions of JPY)
  FY2010 FY2009 Rate of Change (%) Factor
Sales 79,762 65,256 22.2 -
Operating income 2,678 (1,947) - -
Ordinary income 2,088 (2,182) - -
Net income 939 (4,642) - -
Automotive Components Division
Sales 56,942 45,870 24.1

-Sales increased year-on-year, thanks to the effects of the eco-car incentive scheme in Japan as well as strong demand in China and other Asian countries.

Operating income 2,336 (2,165) -

Business Partnership

-Pierburg Pump Technology GmbH of Germany, a member of the Kolbenschmidt Pierburg Group has made an agreement with Mikuni Corporation of Japan, regarding the formation of a sales, development and production joint venture for electric coolant and variable oil pumps destined for the Asian markets. The new joint venture will be 51 percent owned by Pierburg Pump Technology, with Mikuni holding the remaining stake. (From a press release on November 12, 2010)

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


R&D Expenditure

(in millions of JPY)
  FY2010 FY2009 FY2008
Overall 3,149
3,160 4,047
Automotive products 912
881 1,208

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 of axle pedal modules
-Development of continuously variable transmission systems
-Development and mass production of variable valve-timing transmission (VVT), and new generation
-Development of new engine exhaust gas control valve.
-Development of an electric vacuum pumps 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.

Product Development

ECO Pedal Technology from Nissan
-Nissan Motor Co., Ltd. announced on November 16 that it will step up its business to sell new technologies and components it developed in-house to other automakers. It is ready to offer components and auto parts systems it developed jointly with vehicle parts suppliers, including those in which Nissan has the majority of patent rights and know-how. As the first program, Nissan has already licensed out technology for the "ECO Pedal" system to Mikuni Corporation, which manufactures accelerator pedals and other auto parts. The ECO Pedal is designed to assist drivers in fuel efficient driving. Mikuni is already in talks with manufacturers of passenger vehicles and commercial vehicles in Japan, intending to sell the ECO Pedal technology in packages, which includes Nissan's engine control logic. Following the ECO Pedal program, Nissan is now working on offering its technologies related to four other products, positioning such projects as its new business model. The company also expects such initiatives will result in an increase in profit, as well as a decrease in technical cost thanks to volume efficiency. Nissan says, "This is the first time for us to proactively offer our technology to other companies. No other automaker has ever done this either". Nissan is going to strengthen proposals, while expanding its target to companies in Europe, the U.S.A., and emerging countries.
(From an article in the Nikkan Jidosha Shimbun on November. 17, 2010)

Investment Activities

Investment Expenditure

(in millions of JPY)
  FY2010 FY2009 FY2008
Overall   3,290 3,787 6,171
Automotive products 2,888
3,231 5,207

-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, 2011)

Company/Plant Location Estimated amount
of investment
( in millions of JPY )
Period of the project
From To
Odawara Plant Kanagawa Pref., Japan 159 Apr. 2011 Mar. 2012
Morioka Plant Iwate Pref., Japan 507 Apr. 2011 Mar. 2012
Kikukawa Plant Shizuoka Pref., Japan 542 Apr. 2011 Mar. 2012
Mikuni (Thailand) Co., Ltd. Ayutthaya, Thailand 792 Jan. 2011 Dec. 2011
Mikuni (Shanghai) Co., Ltd. Shanghai, China 359 Jan. 2011 Dec. 2011
PT. Mikuni Indonesia Jawa Barat, Indonesia 455 Jan. 2011 Dec. 2011
Mikuni India Private Limited Rajasthan,India 419 Apr. 2011 Mar. 2012
Mikuni Partec Co., Ltd. Shizuoka Pref., Japan 280 Apr. 2011 Mar. 2012