Imasen Electric Industrial Co., Ltd. Business Report FY ended Mar. 2018

Financial Overview

(in million JPY)
FY ended Mar. 31, 2018 FY ended Mar. 31, 2017 Rate of change (%) Factors
Sales 117,339 110,275 6.4 -Under an initiative to rebuild the Japanese domestic business, the Company transferred the assembly line that was in the Nagoya Plant to the Gifu Plant. Income and profit rose as a result of consolidating operations.
Operating income 3,281 2,670 22.9
Ordinary income 3,400 2,047 66.1
Net income attributable to owners of the parent 2,878 1,567 83.6
Automotive components related
Sales 113,765 106,670 6.7 -While production volumes fell in North America, they rose in Japan and Asia. This resulted in higher income and profit.
Operating income 3,440 2,842 21.0

Mid-term Business Plan

-The company set a target to achieve an operating profit margin of 6% under “Dream 2020”, the Company’s mid-term management plan.

Major initiatives during the first year of Phase 3 (the fiscal year ending in March 2021)

  • Consolidate technology to develop new products in the electronics sector
  • Work to achieve the world’s highest level of quality and develop processing technology

  • Consolidate production plants and operations in Japan to respond to downsizing operations in Japan

  • Revise processing flows to create the optimum methods for delivering products

  • Develop human resources with global capabilities, while developing local staff

  • Broaden the use of management resources to expand business operations

-The Company aims to increase its share of automotive electric parts such as motor and lamp controllers to 20% of its overall automotive parts sales from the current 6% to 7%, by the end of the fiscal year ending in March 2021. In view of the increasing demand for automotive electric parts due to increased automation, the Company will increase its investment in automotive electric parts business, and plans to make it the Company's second pillar after its main product line of mechanical seat parts, such as seat adjusters. (From an article in the Nikkan Jidosha Shimbun on September 1, 2015)

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

R&D Expenditure

(in million JPY)
FY ended Mar. 31, 2018 FY ended Mar. 31, 2017 FY ended Mar. 31, 2016
Overall 1,832 1,758 1,672
-Automotive components related business 1,785 1,722 1,638

R&D Facilities

-Hiroshima Technical Center (Higashi Hiroshima City, Hiroshima Pref. Japan)
-Tochigi Technical Center (Haga-Gun, Tochigi Pref. Japan)
-IMASEN Global Development and Training Center (Inuyama-City, Aichi Pref. Japan)

R&D Activities

-The Company is promoting following R&D activities;

Automotive components related business

-Heavy-duty products and products that absorb impacts, in order to enhance vehicle occupants during collisions.
-Small and light weight products made possible by reducing the number of parts and developing new materials and processes to lower fuel consumption
-Development of a safety seat adjuster that is comfortable and which provides added convenience and space enough for occupants to relax.
-The Company is reducing the length of time it takes to develop products, by making use of CAE analysis technology. In addition, it is improving basic seat features such as sliding, reclining, and height, as well as lowering costs.
-Developing a power seat-adjuster that excels in sensory performance such as sounds and vibrations. Developing technology that integrates an electric control unit that controls the seat movement with technology that prevents pinching when the seat is moved.

-Developing integrated control units that can control multiple devices.
-Developing various ECU’s for seats, sunroofs, and sunroofs for convertibles.
-Conducting R&D activities on mechatronic products in which mechanisms and electronics, such as functions that control the arrangement of seat positions, are integrated.
-Developing various safety devices such as warning devices that monitor drivers and warn them when they are falling asleep at the wheel.
-Developing ECUs that control voltage conversion so as to improve fuel efficiency.
-Developing electronic products for environmentally friendly vehicles such as EVs, HEVs, etc., and conducting research on technology that reduces traffic accidents such as onboard cameras that take the place of human eyes to detect the distance from vehicles ahead and pedestrians, which human eyes often miss, by sending video signals.
-The Comapny and Nippon Chemi-Con Corporation have jointly developed a power backup capacitor module for autonomous driving and advanced driver assistance systems. In the case of main power supply trouble, the new module supplies electricity from an auxiliary power unit to prevent system failures and ensure safety. It has an integral CAN communication and failure diagnosis systems, a first for automotive capacitors, and can be integrated with on-vehicle control systems. It can be used at ambient temperatures from minus 30 to plus 80 degrees centigrade, and repeat charging and discharging several million times. The two companies will promote the module's advantages like its high reliability and long battery life, and are aiming to win orders by the end of March 2019. (From an article in the Nikkan Jidosha Shimbun on December 22, 2017)

-Developing all sorts of new automotive lamps such as rear-combination lamps, turn-signals, and cabin-interior lights that use LED elements.

Capital Expenditure

(in million JPY)
FY ending Mar. 31, 2019
FY ended Mar. 31, 2018
(Actual Results)
FY ended Mar. 31, 2017
(Actual Results)
FY ended Mar. 31, 2016
(Actual Results)
Overall 4,900 3,677 3,526 4,361
-Automotive components - 3,534 3,456 4,325
Capital expenditure by country (Breakdown of overall)
Japan 2,982 2,425 1,907 2,346
North America 261 312 685 945
Mexico 74 62 238 183
China 559 618 263 485
Thailand 503 48 369 247
Philippines 454 64 35 75
Taiwan 55 11 21 19
India 12 137 2 18
Indonesia 0 0 2 39

-During FY ended March 2016, the Company invested mainly in facilities that produce round reclining adjusters and seat adjusters.

-The Company will augment its manufacturing capabilities of automotive seat mechanism components, its major products, in China. The company is planning to establish a second plant in Wuhan, which is scheduled to go into operation in the spring of 2018. The first Wuhan plant handles only assembly of seat mechanism components, so Imasen will introduce a stamping machine to the second plant and localize metal processing with the aim of establishing an integrated production system. To keep pace with the increasing production of client companies in China, Imasen will expand the supply of parts and strengthen its Chinese operations. (From an article in the Nikkan Jidosha Shimbun on September 6, 2017)

Planned Capital Investment (Automotive components related business)

(As of Mar. 31, 2018)
Company name
Facilities Planned amount of investment
(in million JPY)
Project period
From To
Nagoya plant
(Inuyama, Aichi Pref., Japan)
Production equipment 686 Mar. 2018 Mar. 2019
Gifu plant
(Kamo, Gifu Pref., Japan)
Production equipment 463 Mar. 2018 Mar. 2019
Yaotsu plant
(Kamo, Gifu Pref., Japan)
Production equipment 24 Mar. 2018 Mar. 2019
Okayama plant
(Kurashiki, Okayama Pref., Japan)
Production equipment 917 Mar. 2018 Mar. 2019
Kani plant
(Kani-shi, Gifu Pref., Japan)
Production equipment 31 Mar. 2018 Mar. 2019
Harusato plant
(Kani-shi, Gifu Pref., Japan)
Production equipment 159 Mar. 2018 Mar. 2019
Hiroshima plant
(Higashi Hiroshima City, Hiroshima Pref., Japan)
Production equipment 341 Mar. 2018 Mar. 2019
Guangzhou Imasen Electric Industrial Co.,Ltd.
(Guangdong, China)
Production equipment 306 Jan. 2018 Dec. 2018
Wuhan Imasen Electric Industrial Co., Ltd.
(Hubei, China)
Buildings and production equipment 252 Jan. 2018 Dec. 2018
Imasen Bucyrus Technology Inc. Ohaio Plant
(Ohio, USA)
Production equipment 68 Jan. 2018 Dec. 2018
Imasen Bucyrus Technology Inc. Tennessee Plant
(Tennessee, USA)
Production equipment 191 Jan. 2018 Dec. 2018
Imasen Manufacturing India Pvt. Ltd.
(Rajasthan, India)
Production equipment 12 Jan. 2018 Dec. 2018
Imasen Manufacturing (Thailand) Co., Ltd.
(Ayutthaya, Thailand)
Production equipment 503 Jan. 2018 Dec. 2018
Imasen Philippines Mfg. Corp.
(Laguna, Philippines)
Production equipment 454 Jan. 2018 Dec. 2018
Imasen Mexico Technology S.A. de C.V.
(Guanajuato, Mexico)
Production equipment 73 Jan. 2018 Dec. 2018