Imasen Electric Industrial Co., Ltd. Business Report FY ended Mar. 2019

Financial Overview

(in million JPY)
  FY ended Mar. 31, 2019 FY ended Mar. 31, 2018 Rate of change (%) Factors
Sales 118,579 117,339 1.1 -Sales and income increased due to lower labor costs, thanks to automation; and consolidating the lamp business at the Okayama Plant.
Operating income 3,740 3,281 14.0
Ordinary income 3,691 3,400 8.6
Net income attributable to owners of the parent 2,474 2,878 (14.0) -A decrease resulted because of higher corporate taxes, etc.
Automotive components related
Sales 114,489 113,765 0.6 -Sales and income rose because of increased production in Japan and China, even though production decreased in North America.
Operating income 3,700 3,440 7.6

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.
-In the fiscal year that ended in March 2020, the Company is concerned about an economic slowdown in China; the US-China trade war; and higher production costs that will result from the US, Mexico, and Canada trade agreement. Nevertheless, the Company is aiming to achieve an operating profit-ratio of 4.1%.

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

<Technological innovations>

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

<Rebuilding business operations in Japan>

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

<Optimizing global operations>

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

<Human resources development>

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

<Selecting and Consolidating Business Operations>

  • Broaden the use of management resources to expand business operations

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

R&D Expenditure

(in million JPY)
  FY ended Mar. 31, 2019 FY ended Mar. 31, 2018 FY ended Mar. 31, 2017
Overall 1,903 1,832 1,758
-Automotive components related business 1,861 1,785 1,722

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

<Seat adjusters>
-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.

<Electronic units>
-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 products that pursue driver safety and comfort by monitoring drivers' conditions based on image-processing technology.  
-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.
-Conducting R&D activities on backup-control systems that can respond when accidents occur and when electric power goes out.

-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, 2020
FY ended Mar. 31, 2019
(Actual Results)
FY ended Mar. 31, 2018
(Actual Results)
FY ended Mar. 31, 2017
(Actual Results)
Overall 4,900 4,681 3,677 3,526
-Automotive components - 4,645 3,534 3,456
Capital expenditure by country (Breakdown of overall)
Japan 2,450 2,797 2,425 1,907
North America 282 402 312 685
Mexico 135 23 62 238
China 778 348 618 263
Thailand 1,038 679 48 369
Philippines 71 373 64 35
Taiwan 31 27 11 21
India 116 29 137 2
Indonesia 0 0 0 2

-During FY ended March 2019, 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, 2019)
Company name
Facilities Planned amount of investment
(in million JPY)
Project period
From To
Nagoya plant
(Inuyama, Aichi Pref., Japan)
Production equipment 237 Mar. 2019 Mar. 2020
Gifu plant
(Kamo, Gifu Pref., Japan)
Production equipment 708 Mar. 2019 Mar. 2020
Yaotsu plant
(Kamo, Gifu Pref., Japan)
Production equipment 18 Mar. 2019 Mar. 2020
Okayama plant
(Kurashiki, Okayama Pref., Japan)
Production equipment 179 Mar. 2019 Mar. 2020
Kani plant
(Kani-shi, Gifu Pref., Japan)
Production equipment 14 Mar. 2019 Mar. 2020
Harusato plant
(Kani-shi, Gifu Pref., Japan)
Production equipment 156 Mar. 2019 Mar. 2020
Hiroshima plant
(Higashi Hiroshima City, Hiroshima Pref., Japan)
Buildings and production equipment 622 Mar. 2019 Mar. 2020
Guangzhou Imasen Electric Industrial Co.,Ltd.
(Guangdong, China)
Production equipment 518 Jan. 2019 Dec. 2019
Wuhan Imasen Electric Industrial Co., Ltd.
(Hubei, China)
Production equipment 259 Jan. 2019 Dec. 2019
Imasen Bucyrus Technology Inc. Ohaio Plant
(Ohio, USA)
Production equipment 273 Jan. 2019 Dec. 2019
Imasen Bucyrus Technology Inc. Tennessee Plant
(Tennessee, USA)
Production equipment 8 Jan. 2019 Dec. 2019
Imasen Manufacturing India Pvt. Ltd.
(Rajasthan, India)
Production equipment 115 Jan. 2019 Dec. 2019
Imasen Manufacturing (Thailand) Co., Ltd.
(Ayutthaya, Thailand)
Production equipment 1,037 Jan. 2019 Dec. 2019
Imasen Philippines Mfg. Corp.
(Laguna, Philippines)
Production equipment 70 Jan. 2019 Dec. 2019
Imasen Mexico Technology S.A. de C.V.
(Guanajuato, Mexico)
Production equipment 134 Jan. 2019 Dec. 2019