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 | |
Overall | ||||
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
<Mexico>-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 (Forecast) |
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
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.
<Lamps>
-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 (Location) |
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 |