Mikuni Corporation Business Report FY ended Mar. 2019

Financial Overview

(in millions of JPY)
  FY ended Mar. 31, 2019 FY ended Mar. 31, 2018 Rate of Change (%) Factor
Sales 121,803 103,772 17.4 -Sales of automobile products slowed down in China, but grew in Japan, the ASEAN region, and India.
-Operating profit margin improved because of additional revenue and better productivity outside of Japan.
Operating income 4,403 4,117 6.9
Ordinary income 4,381 4,070 7.7
Profit for the year attributable to owners of the parent  2,262 2,547 (11.2) -Recording of litigation expenses in extraordinary losses.


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 200 billion
  • Consolidated profit margin: 10%

-The automotive business increased sales globally of vacuum pumps for environmentally friendly automobile engines, enhanced the level of engineering functions using MBD, and is undertaking initiatives to speed up development of products compliant with advances in automotive electrification. 

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


R&D Expenditure

(in millions of JPY)
FY ended Mar. 31, 2019 FY ended Mar. 31, 2018 FY ended Mar. 31, 2017
Overall *1 6,019 5,281 4,831
-Automotive products 5,619 4,910 4,465

*1: Includes improving and applying existing products throughout the Group.

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 2019, 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, 2019 FY ended Mar. 31, 2018 FY ended Mar. 31, 2017
Overall 7,411 5,855 5,872
-Automotive products 6,587 5,162 5,367


Planned Capital Investments (Automotive segment)

(As of Mar. 31, 2019)
Company/Plant Location Estimated amount
of investment
(in millions of JPY)
Period of the project
From To
Kikugawa Plant Shizuoka Pref., Japan 716 Apr. 2019 Mar. 2020
Odawara Plant Kanagawa Pref., Japan 794 Apr. 2019 Mar. 2020
Morioka Plant Iwate Pref., Japan 676 Apr. 2019 Mar. 2020
Mikuni India Private Limited Rajasthan,India 982 Apr. 2019 Mar. 2020
PT. MIKUNI INDONESIA(MKI) Bekasi, Indonesia 978 Jan. 2019 Dec. 2019
Mikuni (Thailand) Co., Ltd. Ayutthaya, Thailand 680 Jan. 2019 Dec. 2019
Mikuni American Corporation California, USA 616 Jan. 2019 Dec. 2019