1. Home
  2. Supplier Database
  3. Major Suppliers
  4. Harada Industry Co., Ltd.
  5. Harada Industry Co., Ltd. Business Report FY ended Mar. 2015

Harada Industry 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
Overall
Sales 39,778 36,470 9.1 -Sales increased due effective sales activities and favorable currency translation amidst the expanding automotive market worldwide.
Operating income 867 1,337 (35.2) -Operating income fell due to the Company's posting a one-time extraordinary expense for labor costs for an early-retirement program.
Ordinary income 981 1,412 (30.5) -Effect of favorable foreign currency translation is included.
Net income 346 1,256 (72.5) -Net income decreased due to the Company's adjusting corporate taxes.
Sales by segment
-Japan 12,032 12,360 (2.7) -Sales decrease due to fewer exports and lower automotive-production volumes.
-Asia 10,630 9,144 16.3 -Sales increased due effective sales activities and favorable currency translation amidst the expanding automotive market in China, despite lower automotive-production volumes in the ASEAN Region.
-North & Central Americas 13,255 11,854 11.8 -Sales increased due effective sales activities and favorable currency translation amidst the market recovery in the U.S. and Mexico.
-Europe 3,859 3,110 24.1 -Sales increased due effective sales activities and favorable currency translation.

New Long-term Management Plant HARADA NEXSTAGE 19 (FY ending Mar. 31, 2014 - FY ending Mar. 31, 2019)

Recent development (As for Mar. 2015)

  • Acquired the automotive antenna business as well as overseas bases from Nippon Antenna Co., Ltd.
  • Solidified relationships with major Japanese automakers.
  • Resolved to concentrate management resources in automotive antenna business.
Objectives Initiatives
(1) Strengthen Competitive Advantages
1. Strengthen product features and selling points -Develop new products, keeping in mind the need to strengthen cost advantages, while improving upon existing products.
-Ensure proper product quality and build an optimal supply chain.
2. Strengthen ability to better supply customers -Enhance capacities for gathering information, analyzing, conducting market research, and planning.
(2) Build Optimal Business Structure
1. Strengthen organizational structure -Strengthen collaboration among the Group by reorganizing head-office functions:
In October 2013, the Company absorbed Harada Communication Systems Co., Ltd. It aims to strengthen the group synergies, integrating Harada Communication System's production function in Japan; and overseeing function regarding production and sales into the Company.
2. Establish the Harada brand -Set the Company’s brand image as an automotive antenna manufacture with a unique global network.
3. Pursue Group synergies by putting the Group’s management skills into practice -Strengthen head-office functions even further and clarify the role of each Group company.


-Financial targets outlined in HARADA NEXSTAGE 19

FY ending Mar.31, 2019
Sales more than JPY 45 billion
Operating income ratio against sales more than 10.0%

Outlook for FY ending Mar. 2016

 (in million JPY)
FY ending Mar. 31, 2016
(Forecast)		 FY ended Mar. 31, 2015
(Actual Results)		 Rate of Change
(%)
Overall 41,000 39,778 3.1
Operating income 900 867 3.8
Ordinary income 750 981 (23.6)
Net income 350 346 1.2


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

R&D Expenditure

 (in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Overall 1,585 1,465 1,626
by Region
-Japan 1,085 1,038 1,278
-Asia 129 103 68
-North & Central Americas 123 116 101
-Europe 246 206 177

R&D Facilities

Facility Location
Headquarters Tokyo, Japan
Niigata Works Niigata, Japan
Harada Industry of America, Inc. Michigan, USA
Harada Europe R&D Centre Kent, UK
Shanghai Harada New Automotive Antenna Co., Ltd. Shanghai, China


Large scale measurement facilities enables accommodating actual vehicles for measureing.
-Japan/China: Large anechoic chamber
-UK: Dome-shaped measuring facility
-U.S.: Open site test facility

R&D Activities

Next-generation automotive antenna business
-Based on the Company's forecast that integration and less/non-protruding products will be the future of the next-generation automotive antenna sector, it began R&D activities on built-in systems for in-vehicle satellite antennas and multi-function antennas for telematics use.

Basic R&D activities
-The Company started developing concepts for future antennas, aiming to achieve the following objectives in the future: improving the receiving performance of digital/multimedia devices; creating in-vehicle LANs; and developing compact, integrated antennas capable of responding to high-volume communication loads.

Develop future-generation antennae
-Develop future-generation antenna by actively making use of high-speed communication services for objects in motion like automobiles.

Capital Expenditure

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Overall 1,035 801 643
by Region
-Japan 86 42 178
-Asia 579 533 320
-North & Central Americas 320 210 134
-Europe 49 14 11

Data

  Mar. 2015 Mar. 2014 Mar. 2013
Japan 345 338 351
Asia 2,722 2,578 2,408
North & Central Americas 956 793 670
Europe 45 48 47
Total 4,068 3,757 3,476

Sales by Segment

 (in million JPY)
  FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Automotive equipment 39,564 36,217 29,213
Communication equipment 213 251 720
Other 0.6 0.8 1
Total 39,778 36,470 29,935

Sales by Geographic Area

 (in million JPY)
  FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Sales Operating income Sales Operating income Sales Operating income
Japan 12,032 474 12,360 1,213 12,445 345
Asia 10,630 265 9,144 176 6,264 (371)
North & Central Americas 13,255 237 11,854 238 8,892 339
Europe 3,859 (149) 3,110 (108) 2,332 2
Adjusted amount - 38 - (182) - 26
Total 39,778 867 36,470 1,337 29,935 342

Consolidated

 >>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
  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 (thousand yen) 21,460,267 21,727,656 29,935,076 36,470,030 39,778,779
Income from ordinary business activities (thousand yen) 1,331,766 1,021,134 590,799 1,412,103 981,470
Net income (thousand yen) 847,567 1,234,029 977,506 1,256,438 346,796
Comprehensive income (thousand yen) 293,153 939,583 1,510,084 3,065,289 1,482,274
Net assets (thousand yen) 7,317,400 8,093,655 9,440,583 12,281,233 13,545,794
Total assets (thousand yen) 18,759,308 19,464,145 26,649,658 32,411,832 34,060,080
Book value per share (yen) 336.35 372.05 433.97 564.59 622.74
EPS (yen) 38.96 56.72 44.93 57.76 15.94
Diluted ESP (yen) - - - - -
Net asset ratio (%) 39.01 41.58 35.42 37.89 39.77
ROE (%) 11.73 16.01 11.15 11.57 2.69
PER 4.41 3.70 4.47 4.92 17.50
Cash flow from operating activity (thousand yen) 1,019,386 (149,992) 85,475 470,010 (219,274)
Cash flow from investment activity (thousand yen) (411,964) (601,403) (2,408,962) (815,364) (451,661)
Cash flow from financial activity (thousand yen) (1,647,137) 24,397 3,886,848 469,479 63,451
Balance of cash and cash equivalents (thousand yen) 4,527,646 3,707,128 5,462,365 6,019,549 5,889,958
Number of employees 2,329 2,639 3,476 3,757 4,068

 

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 (thousand yen) 10,332,789 10,299,119 15,517,309 16,136,119 16,462,953
Income from ordinary business activities (thousand yen) 575,766 704,514 507,567 1,755,087 575,543
Net income (thousand yen) 677,038 468,470 (544,133) 1,284,213 1,095,740
Paid-in Capital (thousand yen) 2,019,181 2,019,181 2,019,181 2,019,181 2,019,181
Number of shares outstanding 21,758,000 21,758,000 21,758,000 21,758,000 21,758,000
Net assets (thousand yen) 6,316,475 6,621,614 5,933,712 7,056,190 7,953,613
Total assets (thousand yen) 16,153,499 16,941,729 21,155,584 22,949,830 22,244,683
Book value per share (yen) 290.34 304.39 272.76 324.38 365.65
Dividend per share (yen) 7.50 7.50 7.50 10.00 7.50
EPS (yen) 31.12 21.53 (25.01) 59.03 50.37
Diluted EPS (yen) - - - - -
Net asset ratio (%) 39.10 39.08 28.05 30.75 35.76
ROE (%) 11.20 7.24 (8.67) 19.77 14.60
PER 5.53 9.75 - 4.81 5.54
Payout ratio (%) 24.10 34.83 - 16.94 14.89
Number of employees 234 239 274 355 360