Kyowa Leather Cloth Co., Ltd. Business Report FY ended Mar. 2015
Financial Overview |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | Rate of Change (%) | Factors | |
| Sales | 45,126 | 42,042 | 7.3 | -Sales increased year-on-year because greater volumes of the Company's products are being equipped on various new models, including high-end luxury brand vehicles, released by Japanese OEMs; and because the Company's sales activities targeted to European and American OEMS operating in China paid off, with the Company winning more orders. |
| Operating income | 2,508 | 1,781 | 40.8 | -Income significantly increased as a result of the Company's effective sales activities and its posting deferred tax assets. |
| Ordinary income | 2,634 | 1,756 | 50.0 | |
| Current net income | 3,538 | 1,288 | 174.7 |
Outlook for FY ending Mar. 31, 2016
|
(in million JPY) |
| FY ending Mar. 31, 2016 | FY ended Mar. 31, 2015 | Rate of change (%) | |
| Sales | 48,000 | 45,126 | 6.4 |
| Operating income | 3,100 | 2,508 | 23.6 |
| Ordinary income | 3,100 | 2,634 | 17.7 |
| Net income | 1,900 | 3,538 | (46.3) |
R&D Expenditure |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| Overall | 690 | 564 | 565 |
R&D Structure
-The Company has a technical center in Hamamatsu City, Shizuoka Prefecture.
R&D Activities
Development agendas of the automotive interior business
-The Company is developing new, synthetic-leather materials that contribute to enhancing the quality of vehicles.
-The Company is working to improve upon and develop product technology that takes into consideration factors such as weight reduction, ease of recycling, lowered costs, environmental protection, and greater comfort for passengers.
Product Development
Molded skin for instrument panel
-The Company's compound molded skin is being used to cover the surface of the instrument panel on a luxury-class minivan that typifies Japan and which was released in the spring, 2015. The Company began producing the skin in January at the Shinshiro Plant.
-This compound molded skin is comprised of a TPO layer that responds to the opening of airbags when they are deployed, and a voluminous, cushiony foam body that can be fitted to the complex contour of the instrument panel that is of the highest class in the world.
-Its special features include its wonderful sense of touch coming from its puffy shape and foamy, cushiony quality that create a velvety, smooth feel. It has a wonderful look to it due to the copious and elegant stitching.
Capital Expenditure |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| Overall | 1,596 | 1,994 | 1,199 |
-In the fiscal year that ended in March 2015, the Company mainly invested in Plant No. 2 at the Tenryu Plant, in order to install an RTO system and reduce costs.
Planned Capital Investment
|
(As of Mar. 31, 2015) |
| Name | Facility | Total Amount Invested (In million JPY) |
Started | Expected to Complete in |
| 1st Tenryu Plant (Shizuoka Pref., Japan) |
Synthetic leather (for vehicles, furniture, shoes and general merchandise) | 241 | Apr. 2015 |
Mar. 2016 |
| 2nd Tenryu Plant (Shizuoka Pref., Japan) |
Composites for molding and making synthetic leather (for vehicles, furniture, shoes and general merchandise) | 787 | Apr. 2015 |
Mar. 2016 |
| Shinshiro Plant (Aichi Pref., Japan) |
Production facilities to form automotive composite materials | 180 | Apr. 2015 |
Mar. 2016 |
| Headquarters (Shizuoka Pref., Japan) |
Facilities for conducting R&D | 303 | Apr. 2015 |
Mar. 2016 |
| Kyowa-GSK Plastics (Langfang) Co., Ltd. (Langfang, China) |
Composites for molding and making synthetic leather (for vehicles) | 375 | Jan. 2015 |
Dec. 2015 |
Data
| Mar. 2015 | Mar. 2014 | Mar. 2013 | |
| Total | 1,324 | 1,322 | 1,244 |
Sales by Segment |
(in million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| Automotive | 32,586 | 28,696 | 21,718 |
| Wall decoration | 4,473 | 4,985 | 4,995 |
| Furniture, footwear, general goods | 4,435 | 4,569 | 4,498 |
| Industrial | 3,630 | 3,790 | 3,076 |
| Total | 45,126 | 42,042 | 34,289 |
Sales by Geographic Area |
(In million JPY) |
| FY ended Mar. 31, 2015 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2013 | |
| Japan | 30,889 | 30,399 | 26,835 |
| Asia | 8,753 | 7,231 | 4,807 |
| North America | 4,728 | 4,021 | 2,165 |
| Other regions | 755 | 389 | 481 |
| Total | 45,126 | 42,042 | 34,289 |
(Note) Sales are based on customer locations, categorized by country or region.
Consolidated |
| FY ended Mar. 31, 2011 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2013 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2015 | |
| Sales (million yen) | 28,020 | 29,934 | 34,289 | 42,042 | 45,126 |
| Income from ordinary business activities (million yen) | (28) | (940) | 302 | 1,756 | 2,634 |
| Net income (million yen) | (1,935) | (958) | 216 | 1,288 | 3,538 |
| Comprehensive income(million yen) | (2,004) | (878) | 497 | 1,846 | 4,261 |
| Net assets (million yen) | 22,752 | 22,156 | 22,521 | 24,265 | 27,387 |
| Total assets (million yen) | 33,978 | 38,325 | 37,190 | 41,034 | 45,739 |
| Book value per share (yen) | 916.96 | 875.14 | 887.40 | 952.00 | 1,072.05 |
| EPS (yen) | (78.99) | (39.13) | 8.84 | 52.58 | 144.45 |
| Diluted EPS (yen) | - | - | - | - | - |
| Net asset ratio (%) | 66.1 | 55.9 | 58.5 | 56.8 | 57.4 |
| ROE (%) | (8.2) | (4.4) | 1.0 | 5.7 | 14.3 |
| PER | - | - | 35.9 | 9.2 | 5.3 |
| Cash flow from operating activity (million yen) | 2,164 | 1,721 | 1,727 | 3,304 | 4,236 |
| Cash flow from investment activity (million yen) | (2,952) | (35) | (3,484) | (2,705) | (2,722) |
| Cash flow from financial activity (million yen) | (208) | (212) | 118 | 145 | (616) |
| Balance at the term-end of cash and cash equivalents (million yen) | 3,438 | 4,914 | 3,287 | 4,062 | 5,000 |
| Number of employees | 1,000 | 1,272 | 1,244 | 1,322 | 1,324 |
Non Consolidated
| FY ended Mar. 31, 2011 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2013 | FY ended Mar. 31, 2014 | FY ended Mar. 31, 2015 | |
| Sales (million yen) | 22,005 | 22,916 | 24,790 | 29,823 | 31,482 |
| Income from ordinary business activities (million yen) | 14 | (956) | 213 | 1,556 | 2,245 |
| Net income (million yen) | (1,829) | (992) | 191 | 1,238 | 3,296 |
| Paid-in Capital (million yen) | 1,810 | 1,810 | 1,810 | 1,810 | 1,810 |
| Number of stock outstanding (1000) | 24,500 | 24,500 | 24,500 | 24,500 | 24,500 |
| Net assets (million yen) | 20,545 | 19,426 | 19,505 | 20,577 | 22,955 |
| Total assets (million yen) | 32,837 | 35,884 | 34,453 | 36,678 | 40,261 |
| Book value per share (yen) | 838.62 | 792.95 | 796.18 | 839.96 | 937.02 |
| Dividend per share (yen) | 6.00 | 5.00 | 5.00 | 12.50 | 28.00 |
| EPS (yen) | (74.70) | (40.53) | 7.80 | 50.56 | 134.56 |
| Diluted EPS (yen) | - | - | - | - | - |
| Net asset ratio (%) | 62.6 | 54.1 | 56.6 | 56.1 | 57.0 |
| ROE (%) | (8.5) | (5.0) | 1.0 | 6.2 | 15.1 |
| PER | - | - | 40.6 | 9.6 | 5.7 |
| Payout ratio (%) | - | - | 64.10 | 24.72 | 20.81 |
| Number of employees | 630 | 635 | 609 | 600 | 600 |