Financial Overview

(in millions of JPY)

	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012	Rate of Change (%)	Factors
Overall
Sales	21,897	23,396	(6.4)	-Sales of automobile motors fell year-on-year, being affected by a slowdown in sales of Japanese products in China.
Operating income	249	218	14.2	-Operating income increased year-on-year due to effective cost-cutting initiatives such as reducing procurement costs, and to changes to and expense outlays for its production structure, in line with developments involving production operations.
Ordinary income	536	424	26.4	-
Net income	329	232	41.8	-
Electrical Products Division
Sales	11,928	13,170	(9.4)	-Sales were lower year-on-year as a result of demand for electric generators after the Great East Japan Earthquake running full circle, and due to customers adjusting their inventories downward for some products.
Operating income	870	1,032	(15.7)	-
Motor Division
Sales	9,969	10,226	(2.5)	-Sales of automotive motors, its core product line, were negatively impacted by the huge slowdown in sales of Japanese products in China, with growth waning.
Operating income	(66)	(299)	-	-

New Wing for Production Technology Department

-In May 2013, the Company held a ceremony to celebrate the completion of the second phase of a construction project to build a new wing at its Production Technology Department's building located at its head office in Numazu. The Technology Department, Prototype Department, and Testing Lab, which moved into the new wing, have already started conducting their R&D activities. (from a company press release)

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

R&D Expenditure

(in millions of JPY)

	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011
Overall	251	233	228
Electrical Products Division	133	142	153
Motor Division	111	90	74

R&D Activities

Electrical Products Division
-Continually working to develop optimal ignition and fuel-injection systems for engines.

Motor Division

-Developing mechatronics products by applying technology on automotive control motors.

Capital Expenditure

(in millions of JPY)

	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011
Overall	1,177	909	756

Capital Investments in FY ended Mar. 31, 2013
-The Company made investment in establishment of a rationalized production line for electrical products, rationalization of facilities to save energy and introduce IT, and installation of new molds to allow the Company to respond to orders for new products and to update old facilities.

-The Major Investments on Mechanical Equipment

(in millions of JPY)

Segment	Amount	Main facilities
Electrical Products Division	578	Electrical components rationalization facilities, etc.
Motor Division	599	Preparing new motor production lines to respond to vehicle model changes

Planned capital investments

(As of Mar. 31, 2013)

Site name	Location	Type of facility and activities	Planned investment amount (million yen)	From	To
Headquarters factory	Shizuoka Pref., Japan	Streamlining motor production operations	26	Apr. 2013	Nov. 2013

-Investment in FY ending Mar. 2014 is estimated to be 180 million yen.