Financial Overview

(in millions of JPY)

	FY ended Mar. 31, 2014	FY ended Mar. 31, 2013	Rate of Change (%)	Factors
Overall
Sales	46,729	43,324	7.9	-
Operating income	1,166	209	457.9	-
Ordinary income	1,564	467	234.9	-
Net income	(1,225)	156	-	-
Automotive Safety Systems Company
Sales	35,418	33,402	6.0	-Sales increased because the production volumes of vehicles the company supplies parts to increased and because of new-model launches, in spite of some models, which the Company supplied seatbelts and airbags to, going out of production. -Strong sales of automotive parts (interior trim, etc.)
Operating income	1,161	654	77.5	-

Change in Largest Shareholder
-In 2013, the Company announced that its largest shareholder, Toyobo Co., Ltd., will sell 9,201,000 shares of Ashimori Industry to Nippon Keori Co., Ltd. (Nikke). The effective date of the transfer will be April 24, 2013, with a purchase price of JPY 1,269,738,000 (approximately USD 12.8 million). Through this transaction, Nikke will raise its voting share from the current level of 0.84 percent to 17.25 percent, becoming the largest shareholder of Ashimori Industry. The two companies have already signed product supply contracts in the area of automotive safety components. (From a press release on April 10, 2013)

Outlook for FY ending Mar. 31, 2015

(in millions of JPY)

	FY ending Mar. 31, 2015 (Forecast)	FY ended Mar. 31, 2014 (Actual Results)	Rate of Change (%)
Overall
Sales	48,000	46,729	2.7
Operating income	1,350	1,166	15.8
Ordinary income	1,250	1,564	(20.1)
Net income	1,000	(1,225)	-

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

R&D Expenditure

(in millions of JPY)

	FY ended Mar. 31, 2014	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012
Overall	884	908	1,041
-Automotive Safety Systems Company	476	607	647

R&D Activities

Seatbelts
-The Company developed:

• New and lighter-weight, high-performance devices complying with regulations and assessments in every country
• Devices meeting increased global production volumes

Airbags
-The Company developed:

• New, lighter, and more compact high-performance modules complying with regulations and assessments in every country
• Devices meeting increased global production volumes

Interior products
-The Company augmented its product range in the area of shades, tonneau covers, and cargo nets.
-It conducted R&D activities on highly functional products and new materials; and improved designs.

Capital Expenditure

(in millions of JPY)

	FY ended Mar. 31, 2014	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012
Overall	1,224	1,440	1,444
-Automotive Safety Systems Company	1,068	1,301	998

Automotive Safety Systems Company
-The Company made capital investments mainly at its Osaka Plant to rationalize and strengthen production of automotive products, as well as augment R&D facilities.

Planned Capital Investments

(As of Mar. 31, 2014)

Name of Company/Plant (Location)	Purpose	Planned investment (in millions JPY)	Starting Month	Completing Month	Capacity increase on completion
Osaka Plant (Osaka, Japan)	To rationalize production facilities for automotive safety systems, high quality products and paltem	1,778	Apr. 2013	Mar. 2015	Practically none as this is to improve quality