Financial Overview

(in million JPY)	FY2007	FY2006	Rate of change (%)	Factors
Overall
Sales	91,321	73,323	24.5	Revenue increased year-on-year, supported by strong sales of automotive products.
Operating income	6,676	3,216	107.6	As a result of greater sales and the Group-wide initiatives to reduce overall costs, operating income and ordinary income rose significantly from the last year's results.
Ordinary income	6,316	3,479	81.5
Current net income	3,957	1,902	108.0
Automotive components related business
Sales	85,456	68,153	25.4	Sales and operating income went up year-on-year, thanks mainly to the following factors: - strong domestic sales, buoyed by winning of new contracts; and - favorable sales at Chinese and Thai subsidiaries in Asia.
Operating income	6,193	2,895	113.9

Enhancing production structures

Domestic business

The Gifu Plant began operating in June 2007. This facility manufactures automotive seat adjusters as a new mother plant of the Group's global operations,

New subsidiaries

Japan
- In April 2007, the Company established Kyushu Imasen Co., Ltd., a wholly owned subsidiary in Kitakyushu City, Fukuoka Prefecture to manufacture automotive seat adjusters.


India
- In November 2007, the Company established  Imasen Manufacturing India Private Limited in Rajasthan, India. The new entity will supply seat devices to the transplants of Japanese car seat manufacturers.

>>> See Investment for further details

R&D expenses

(in million JPY)	FY2007	FY2006	FY2005
Overall	146	150	193
R&D expenses as a % of sales	0.16%	0.21%	0.29%

Automotive components related business

(1) Structural parts

Seat adjusters:
-The Company shortened product development time by using CAE analysis technology. Research and development was aimed at improving functionality, reducing the size and weight of products, and improving cost efficiency of seat slide adjusters and seat reclining adjusters.

-The Company is working on developing integrated seat adjusters by optmizing the layout of core units such as reclining adjusters, rails, and lock units and analyzing the durability, strength, and structural design.

-The Company has developed power seat adjusters with high performance in terms of lower noise and vibration. The power seat adjusters  also offer integrated anti-trap electric control units. The Company is making presentations on this system to carmakers and seat manufactures, and has has already started joint development activities with some customers.

Window regulators:
- The Company is conducting R&D activities on solution-based, smaller and lighter window regulators.

(2)Electronic parts

Electronic units:
- In addition to developing and launching integrated control units, which enable simultaneous control of various devices, several equipment, the Company commercialized memory seat ECUs and ECUs for seatbelt pretensioners. It has also developed controlling units for adjusting the positions of seats, mechatronics products that integrate structural and electronics technology.

Lamps:
-The Company has been developing various new lamps such as rear combination lamps and room lamps, etc. using LED elements.

-It is also working on developing modular overhead consoles, which integrates control units, lamps, and lock mechanisms.

Horns:
-The Company continues its efforts to develop and market high-quality but small and low-cost horns.

Others

-The Company developed new products based on technology in the areas of mechanisms and electrical operations. Specifically, the Company developed actuators, which control the opening and closing of magnetic valves and air conditioning ducts used in ventilation systems. These servos are more compact and lighter in weight. In addition, it conducted research and development activities to modularize clusters of magnetic valves; and developed and commercialized electrically adjustable windscreens and windshields for large motorcycles.

R&D