Mikuni Corporation Business Report FY ended Mar. 2016
Financial Overview |
(in millions of JPY) |
| FY ended Mar. 31, 2016 | FY ended Mar. 31, 2015 | Rate of Change (%) | Factor | |
| Overall | ||||
| Sales | 97,874 | 98,518 | (0.7) | - |
| Operating income | 3,094 | 4,913 | (37.0) | - |
| Ordinary income | 3,046 | 4,326 | (29.6) | - |
| Profit for the year attributable to owners of the parent | 1,269 | 2,994 | (57.6) | - |
| Automotive Components Division | ||||
| Sales | 60,064 | 63,397 | (5.3) | -Even though the Company received a greater number of new orders for automobile products in China, the recovery in demand for minicars in Japan was slower than expected. |
| Operating income | 2,537 | 4,071 | (37.7) | - |
Long-term Management Plan: Vision 2023 (Management Plan with a Vision toward the Company’s 100th Year Anniversary)
Objectives for the fiscal year ending in March 2024:
- Consolidated sales: JPY 200billion
- Consolidated profit margin: 10%
-In the fiscal year that ended in March 2016, motorcycle and special machinery sales accounted for 58% of companywide sales, while sales of automobile products accounted for 42% percent. However, the Company in the fiscal year that ends in March 2021 aims to have motorcycle and special machinery sales account for 50%, and automobile products account for 50%.
Strategy: Vision 2023 2nd Stage (from fiscal year ending in March 2017-fiscal year ending in March 2019)
-Strengthen engineering services
-Effectively control response and timing
-Develop strategic products on-demand as an added value
-Increase production speed fourfold
-Innovate product creation
-Strengthen global procurement network
-Expand customer base
-Strengthen China and India (2 & 4W) + Japan, Europe, USA, Korea (4W)
-Focus on strategic products
-Develop systems to control gas flow (Europe/USA)
-Strengthen life-support business
-Develop trading business in new markets
Outlook for FY ending Mar. 2017 |
(in millions of JPY) |
| FY ending Mar. 31, 2017 (Forecast) |
FY ended Mar. 31, 2016 (Actual Results) |
Rate of Change (%) |
|
| Sales | 96,000 | 97,874 | (1.9) |
| Operating income | 2,900 | 3,094 | (6.3) |
| Ordinary income | 2,600 | 3,046 | (14.7) |
| Profit for the year attributable to owners of the parent | 1,400 | 1,269 | 10.2 |
>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
R&D Expenditure |
(in millions of JPY) |
| FY ended Mar. 31, 2016 | FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | |
| Overall *1 | 4,322 | 4,260 | 3,581 |
| -Automotive products | 3,972 | 3,881 | 3,224 |
*1: Includes improving and applying existing products throughout the Group.
-For FY ending March 2017, R&D expenditure is planned to be JPY 4,800 million as overall.
R&D Facilities
-The Company's Odawara Plant is in charge of conducting overall R&D activities and developing new business sectors.
R&D Activities
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.
-As of the end of March 2016, the Company was conducting R&D activities on the following products:
- Intake modules and Resin intake manifolds for automobiles
- Thermal management systems
- Electric variable valve timing (VVT)
- Electric exhaust-gas control valves
- Electric vacuum pumps
- Electric oil pumps
Capital Expenditure |
(in millions of JPY) |
| FY ended Mar. 31, 2016 | FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | |
| Overall | 5,434 | 4,758 | 4,907 |
| -Automotive products | 4,981 | 4,360 | 4,511 |
-The Company plans to spend JPY 6,300 million in capital investments in the fiscal year ending in March 2017.
Planned Capital Investments (Automotive segment) |
(As of Mar. 31, 2016) |
| Company/Plant | Location | Estimated amount of investment (in millions of JPY) |
Period of the project | |
| From | To | |||
| Odawara Plant | Kanagawa Pref., Japan | 852 | Apr. 2016 | Mar. 2017 |
| Morioka Plant | Iwate Pref., Japan | 1,089 | Apr. 2016 | Mar. 2017 |
| Kikugawa Plant | Shizuoka Pref., Japan | 863 | Apr. 2016 | Mar. 2017 |
| Mikuni Partec Corporation | Shizuoka Pref., Japan | 391 | Apr. 2016 | Mar. 2017 |
| Mikuni (Thailand) Co., Ltd. | Ayutthaya, Thailand | 492 | Jan. 2016 | Dec. 2017 |
| Mikuni India Private Limited | Rajasthan,India | 539 | Apr. 2016 | Mar. 2017 |
| Mikuni (Shanghai) Co., Ltd. | Shanghai, China | 455 | Jan. 2016 | Dec. 2017 |
| Mikuni (Zhejiang) Co., Ltd. | Zhejiang, China | 307 | Jan. 2016 | Dec. 2017 |
| Mikuni American Corporation | California, USA | 809 | Jan. 2016 | Dec. 2017 |