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5. Yutaka Giken Co., Ltd. Business Report FY ended Mar. 2019

Yutaka Giken Co., Ltd. Business Report FY ended Mar. 2019

Factors

-The impact on business results from the impairment loss in the USA for fixed assets that was posted during the previous year's consolidated fiscal year was no longer a factor in terms of the most recent fiscal year's results. However, some negative factors were: fewer product orders from customers in China and other regions, lower profitability that resulted from greater competition and increased costs in China and Asia, and expenses incurred for organizational improvements in North America. In addition, in line with the rising possibility that the UK consolidated subsidiary's profitability might be lower, the Company posted an impairment loss for fixed assets. In the end, sales rose 0.1% year-over-year (y/y). By Region, Japan and Asia showed positive growth.

ｰThe automobile business, which accounts for 90% of the Company sales revenue, recorded sales revenue of JPY 166.1 billion, a 1.8% y/y increase.

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

R&D Structure

-The main R&D functions of the Company are the R&D department at the Tochigi R&D Center and the production department’s technology development office. In addition, Cardington Yutaka Technologies Inc. (Ohio, USA), which is the main R&D function in North America, develops products designed for the North American market.

R&D Activities

<Japan>

Exhaust-system Parts
By advancing technologies that improve purification performance, fuel efficiency, and quietness through developing low-environmental-impact technologies, the Company is working on creating product and production technologies on exhaust-systems to raise the competitive advantages of its products while at the same time working to improve productivity.
-The Company finished developing an exhaust-converter and an exhaust silencer for the redesigned Honda CR-V Hybrid and Vezel Touring, launching commercial production of these products at the Arashiyama Plant.
The Company finished developing an exhaust-converter for the redesigned Suzuki Jimny Sierra, launching commercial production of these products at the Mie Plant.

Drive-systems Parts
The Company is conducting R&D activities on product and production technologies to raise the competitive advantages of its products and improve fuel consumption and productivity in responding to the needs for "smaller and lighter".
-The Company finished developing a torque-converter for the redesigned Honda  Vezel Touring, launching commercial production of these products at the Yutaka Plant.

Motor Parts
The Company is conducting R&D activities on product and production technologies on high-performance-motor parts for next-generation automobiles in response to electrification.
ｰThe Company started assembling parts and rotors for the redesigned Honda Clarity PHEV, CR-V Hybrid, and Insight, at the Yutaka Plant.

<North America>
Among the products designed for the North American market, the Company is conducting product-development activities mainly on automobile exhaust-systems.
-The Company completed developing an exhaust sensor for the redesigned Honda RDX, launching production at Cardington Yutaka Technologies.

-The Company made capital investments mainly in its automotive parts business to improve its production operations and respond to new models.