Mitsuboshi Belting Ltd. Business Report FY2010
Business Highlights
Financial Overview |
(in millions of JPY) |
FY2010 | FY2009 | Rate of Change (%) | Factors | |
Overall | ||||
Sales | 50,928 | 45,267 | 12.5 | - |
Operating income | 4,871 | 1,594 | 205.6 | - |
Ordinary income | 4,345 | 1,539 | 182.3 | - |
Net income | 3,363 | 661 | 408.8 | - |
Domestic Belt Division* | ||||
Sales | 25,417 | 21,946 | 15.8 | -The Company recorded a year-on-year increase in sales due to the higher sales volume that resulted from production increases of vehicles, following a recovery in demand; and due to strong sales of replacement products. |
Operating income | 5,651 | 2,975 | 89.9 | - |
Overseas Belt Division* | ||||
Sales | 17,244 | 15,078 | 14.4 | -The Company recorded strong performance as a result of strengthening its sales structure that must meet the growing demand for automotive belts and general, industrial-use belts in the Asian Region, which continues to grow. |
Operating income | 1,275 | 440 | 189.8 | - |
R&D
R&D Expenditure |
(in millions of JPY) |
FY2010 | FY2009 | FY2008 | |
Overall | 2,070 | 2,029 | 2,189 |
Domestic Belt Business | 1,215 | 1,388 | 1,411 |
Overseas Belt Business |
R&D Structure
-R&D is conducted through cooperation among the R&D Department, engineering departments of other divisions, as well as development departments in subsidiaries.-R&D is conducted also through closely cooperating with universities and research institutes and through jointly developing products with other companies, especially on advanced technologies.
R&D Acitivities
Belt Business-Continuous speed transmission belts having features of both resin and rubber.
-V-belts, designed for agricultural use, that offer improved performance in terms of resistance to abrasion and wear.
-Auto pretensioners developed by the Company are used in a growing number of car models.
-Ribbed belts designed to reduce noise were developed based on sophisticated materials and enhanced structural designing.
-High rigidity timing belt series corresponding to high load and accuracy in determining position.
-Rubber back ribbed belts that create more freedom of design in the engine.
Investment Activities
Capital Expenditure |
(in millions of JPY) |
FY2010 | FY2009 | FY2008 | |
Overall | 1,591 | 3,073 | 4,507 |
Domestic Belt Business | 935 | 2,961 | 4,241 |
Overseas Belt Business | 473 |
Belt business in Japan
The Company made capital improvements as follows:
-Invested 219 million yen to make environmental upgrades to facilities and equipment at its Shikoku plant.
-Invested 65 million yen in facilities and equipment manufacturing belts at its Kobe Plant.
-Invested 50 million yen in facilities and equipment for testing and R&D at its Ayabe operations.
Belt business outside Japan
-The majority of the capital investments that the Company made was done outside Japan in equipment and facilities producing belts.
-The Company will increase production of automotive power transmission belts through approx. 30% capacity expansion from early 2011 at its three plants in Indonesia and Thailand. Approx. 800 million yen will be invested in total in order to respond to growing production of automobiles and motorcycles in the ASEAN region. The Company will introduce new facilities to its three consolidated subsidiaries: Star Technologies Industrial Ltd. (STI, Thailand), P.T. Seiwa Indonesia (Indonesia) and P.T. Mitsuboshi Belting Indonesia (MBI, Indonesia). Production of timing belts, V-belts for engine accessories, CVT belts for motor scooters as well as machinery belts will be increased.
(From an article in the Nikkan Jidosha Shimbun on November. 19, 2010)
Planned Capital Investments (related to belts)
(As of Mar. 31, 2011)
Company/ Facility (Location) |
Business Segment |
Objective or equipment to be installed | Planned amount of investment (in million JPY) | Start | Planned completion |
Shikoku Plant (Kagawa Pref., Japan) |
Domestic Belts | Upgrading belt production equipment | 52 | Apr. 2010 |
July 2011 |
Ayabe Plant (Kyoto, Japan) |
Domestic Belts | Upgrading testing equipment | 79 | Aug. 2010 |
Oct. 2011 |