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  5. Asahi Tec Corporation Business Report FY ended Mar. 2014

Asahi Tec Corporation Business Report FY ended Mar. 2012-2015

Divestiture of subsidiary

-In June 2015, the Company announced that it has completed the transfer of its consolidated subsidiary, Asahi Tec Metals Co., Ltd., Techno-Metal Co., Ltd., and Asahi Tec Metals (Thailand) Co., Ltd., to Amtek Auto Limited, an India-based auto parts manufacturer. These subsidiaries perform iron and aluminum casting, forging, and machining operations. (From a press release on June 11, 2015)

Recent Development in Japan

-In August 2015, the Company decided to spin off its aluminum die-casting and sand-casting business in Japan and to form a wholly owned subsidiary for the business, effective October 2015. The new independent unit is expected to make the operation more sustainable on a long-term basis.

Overview of the new company

  • Company name: Asahi Tec Aluminium Co., Ltd.
  • Address: 3311-1 Higashi Yokoji, Kikugawa City, Shizuoka Prefecture, Japan
  • President and CEO:　Kazumi Sano
  • Scope of business: Casting and processing of non-ferrous products
  • Capital: JPY 100 million

(From a press release on August 28, 2015)

Business Policy

Increasing production ratio outside Japan
-The Company announced the business policy in 2013 that it will raise its overseas production ratio to 50%. Since 2003, the Company has established plants in China and Thailand and transferred production to these plants to reduce production costs. The Company has rapidly increased the number of parts supplied to automakers in China and Thailand. In addition, the Company's new aluminum die-casting plant in Laos will start operations in 2015. The Company expects that increasing overseas production will lower manufacturing costs and strengthen its global competitive edge. (From an article in the Nikkan Jidosha Shimbun on December 20, 2013)

Recent Development Outside Japan


-In 2013, the Company has entered into an agreement with Laos-based BMM Group Co., Ltd. to set up a 50-50 joint venture in Savannakhet Province, Laos. The new company, BMM Asahi Tec Co., Ltd., will manufacture and sell aluminum die-castings to meet growing demand in Thailand. Capitalized at THB 1.6 billion (approximately JPY 5.1 billion), BMM Asahi Tec will be established in May 2013. Production capacity is expected to reach about 610 tons a month by the second half of 2016. The combined aluminum die-casting capacity of the new Laos plant and the company's existing Bangbor plant in Thailand is projected to reach about 1,800 tons a month. (From a press release on April 24, 2013)


-In 2012, the Company announced that it will establish a joint venture with Guangzhou Dongling Industry Group Co., Ltd. in Anhui Province, China. The new joint venture, which will be named Dongling Asahi Tec Metals Co., Ltd., will specifically deal with the production of large-size ductile components for trucks and construction machinery, and production capacity will be 25,000 tons annually by fiscal year 2016. It will be capitalized at CNY 100 million, approximately JPY 1.2 billion, 49% of which will be provided by Asahi Tec and the remaining 51% provided by Guangzhou Dongling. The joint venture, which is the Company's first investment in China for iron casting, is the fourth place, followed by two locations for aluminum component business and one location for R&D in China. (From a press release on April 13, 2012)

Data

  As of end of May, 2015 As of end of July, 2014 As of end of March, 2013 As of end of March, 2012
Total 2,292 3,780 3,904 3,964
(in million JPY)
  FY ended Mar. 31, 2014 FY ended Mar. 31, 2013 FY ended Mar. 31, 2012 FY ended Mar. 31, 2011
Total 77,822 79,652 80,848 73,022

Consolidated
FY ended Mar. 31, 2009 FY ended Mar. 31, 2010 FY ended Mar. 31, 2011 FY ended Mar. 31, 2012 FY ended Mar. 31, 2013
Sales (million yen) 218,806 58,241 73,022 80,848 N/A
Income from ordinary business activities
(million yen)		 (12,200) (392) 1,766 3,238
Net income (million yen) (23,251) (421) 155 1,319
Comprehensive income (million yen)
 - - (265) 1,372
Net assets (million yen) 17,613 17,470 16,971 18,295
Total assets (million yen) 150,410 56,368 53,254 57,765
Book value per share (yen) 2.51 2.85 20.20 18.38
EPS (yen) (71.60) (1.63) 0.07 1.71
Diluted EPS (yen) - - - -
Net asset ratio (%) 10.8 28.8 30.2 30.2
ROE (%) - - 1.0 7.9
PER - - 428.57 19.30
Cash flow from operating activity (million yen) (670) 2,962 5,037 6,652
Cash flow from investment activity (million yen) (7,737) (758) 24 (4,385)
Cash flow from financial activity (million yen) 7,449 (2,805) (4,875) (1,516)
Balance at the term-end of cash and cash equivalents (million yen) 5,350 2,763 2,896 3,640
Number of employees 7,960 3,365 3,542 3,964

 

Non Consolidated

FY ended Mar. 31, 2009 FY ended Mar. 31, 2010 FY ended Mar. 31, 2011 FY ended Mar. 31, 2012 FY ended Mar. 31, 2013
Sales (million yen) 40,238 26,014 31,515 34,006 N/A
Income from ordinary business activities (million yen) 1,131 499 1,146 1,231
Net income (million yen) (31,783) 179 318 (276)
Paid-in Capital (million yen) 38,282 38,282 13,703 13,703
Number of stock outstanding (thousand) 476,723 476,626 525,839 712,940
Net assets (million yen) 16,061 16,244 16,320 16,265
Total assets (million yen) 45,945 43,906 42,075 43,210
Book value per share
(yen)		 1.69 2.36 20.73 16.67
Dividend per share (yen) - - - -
EPS (yen) (97.28) (0.25) 0.40 (0.56)
Net asset ratio (%) - - - -
Net asset ratio (%) 34.4 36.4 38.8 37.6
ROE (%) - 1.1 2.0 -
PER - - 75.00 -
Payout ratio (%) - - - -
Number of employees 686 658 627 597



Sales Ratio to Major Customer

(%)
N/A
since FY ended Mar. 31, 2013		 FY ended Mar. 31, 2012 FY ended Mar. 31, 2011
Mitsubishi Fuso Truck and Bus 32.1 32.4
Mitsubishi Motors 10.0 11.7