Imasen Electric Industrial Co., Ltd. Business Report FY ended Mar. 2014

Business Highlights

Financial Overview

(in million JPY)
  FY ended Mar. 31, 2014 FY ended Mar. 31, 2013 Rate of change (%) Factors
Sales 110,265 86,123 28.0 -
Operating income 4,658 2,810 65.8 -
Ordinary income 6,104 3,609 69.1 -
Current net income 4,680 1,761 165.8 -
Automotive components related business
Sales 105,982 81,585 29.9

-Orders increased in Asia such as in Thailand and China, and in North America.

Operating income 4,564 2,827 61.4 -

New Company

-In January 2014, the Company held an opening ceremony at Imasen Mexico Technology S.A. de C.V. in Guanajuato, Mexico. The new subsidiary started mass-producing seat adjusters in February 2014. The new operation is expected to improve the profitability of the Company's North American business by taking advantage of labor cost efficiencies and an optimum procurement structure in the country. The Company also aims to increase its presence in the growing South American market with the establishment.

Outlook for FY ending Mar. 2015

(in million JPY)
  FY ending Mar. 31, 2015
FY ended Mar. 31, 2014
(Actual results)
Rate of change (%)
Sales 116,000 110,265 5.2
Operating income 6,908 4,658 48.3
Ordinary income 6,800 6,104 11.4
Net income 4,400 4,680 (6.0)

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


R&D Expenditure

(in million JPY)
  FY ended Mar. 31, 2014 FY ended Mar. 31, 2013 FY ended Mar. 31, 2012
Overall 1,462 1,462 1,421

R&D Structure

-In September 2014, the Company announced that it has opened the Tochigi Technical Center in Tochigi Prefecture, Japan. As its branch in the prefecture was damaged by the Great East Japan Earthquake in March 2011, the sales and design divisions of Imasen Electric have been operating at separate temporary offices. The Company will integrate the two divisions into the new technical center. (From a press release on September 12, 2013)

R&D Activities

Automotive components related business
<Seat adjusters>
-The Company developed seat adjusters that are extremely strong, capable of absorbing strong impacts, and offers functions to sound an alarm before a collision occurs to protect occupants.
-The Company developed smaller and lighter products by reducing the number of parts, using new materials, and starting a new production process, all of which work to achieve greater fuel efficiency.
-The Company developed lift-up seat devices for welfare vehicles offering improved usability in the growing aging society.
-The Company shortened product development lead time by using CAE analysis technology. Research and development was aimed at improving functionality and improving cost efficiency of seat slide adjusters, seat reclining adjusters, and seat height adjusters.
-The Company has developed power seat adjusters with high performance in terms of lower noise and vibration. It is working on integrating these products with anti-trap electric control units (ECUs) and other ECU systems to enhance control.

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

<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.
-Development of an actuator containing an ECU making use of mechatronics technology to control the angle of a head-up display that can show the vehicle's speed, with the drivers barely needed to change the direction where they are looking.
-Commercialization of a voltage conversion controller ECU to improve fuel efficiency.
-The Company is also focusing on developing electronic components for electric and hybrid vehicles.

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

Investment Activities

Capital Expenditure

(in million JPY)
  FY ended Mar. 31, 2014 FY ended Mar. 31, 2013 FY ended Mar. 31, 2012
Overall 7,549 7,708 6,486
-Automotive components 7,393 7,580 6,402

-During FY ended March 2014, the Company invested mainly in facilities that produce round reclining adjusters and seat adjusters.

Planned Capital Investment (Automotive components related business)

(As of Mar. 31, 2014)
Company name
Facilities Planned amount of investment
(in million JPY)
Project period
From To
Nagoya plant
(Inuyama, Aichi Pref., Japan)
Production equipment 1,259 Mar. 2014 Mar. 2015
Gifu plant
(Kamo, Gifu Pref., Japan)
Production equipment 1,184 Mar. 2014 Mar. 2015
Yaotsu plant
(Kamo, Gifu Pref., Japan)
Production equipment 575 Mar. 2014 Mar. 2015
Okayama plant
(Kurashiki, Okayama Pref., Japan)
Production equipment 333 Apr. 2014 Mar. 2015
Kani plant
(Kani-shi, Gifu Pref., Japan)
Production equipment 256 Apr. 2014 Mar. 2015
Harusato plant
(Kani-shi, Gifu Pref., Japan)
Production equipment 303 Apr. 2014 Mar. 2015
Hiroshima plant
(Higashi Hiroshima City, Hiroshima Pref., Japan)
Production equipment 392 Apr. 2014 Mar. 2015
Guangzhou Imasen Electric Industrial Co.,Ltd.
(Guangdong, China)
Production equipment 1,120 Jan. 2014 Dec. 2014
Wuhan Imasen Electric Industrial Co., Ltd.
(Hubei, China)
Buildings and Production equipment 1,480 Jan. 2014 Dec. 2014
Imasen Bucyrus Technology Inc. Ohaio Plant
(Ohio, USA)
Production equipment 740 Jan. 2014 Dec. 2014
Imasen Bucyrus Technology Inc. Tennessee Plant
(Tennessee, USA)
Production equipment 290 Jan. 2014 Dec. 2014
Imasen Manufacturing India Pvt. Ltd.
(Rajasthan, India)
Production equipment 190 Jan. 2014 Dec. 2014
Imasen Manufacturing (Thailand) Co., Ltd.
(Ayutthaya, Thailand)
Production equipment 610 Jan. 2014 Dec. 2014
Imasen Philippines Mfg. Corp.
(Laguna, Philippines)
Production equipment 130 Jan. 2014 Dec. 2014
Imasen Mexico Technology S.A. de C.V.
(Guanajuato, Mexico)
Production equipment 120 Jan. 2014 Dec. 2014