Ichikoh Industries, Ltd. Business Report FY ended Mar. 2017

Financial Overview

(in million JPY)
FY ended Mar. 31, 2017 FY ended Mar. 31, 2016 Rate of Change (%) Factors
Sales 113,195 102,143 10.8 -
Operating income 4,809 2,429 98.0 -
Ordinary income 5,233 3,007 74.0 -
Net income 5,916 2,505 136.1 -
Automotive components
Sales 104,666 92,983 12.6 -Sales increased because of receiving more product orders in Japan and because business performance at subsidiaries in the ASEAN Region improved.
Operating income 4,794 2,275 110.7 -


-The Company announced that it has started producing its digital inside camera monitor system for Nissan Motor's new Serena. The new electronic rear-view mirror is manufactured at its Mirror Plant in Gunma Prefecture. Monthly production volume is expected to reach 16,000 units in November. Compared to existing analog-type inside camera monitors, the new system has a higher-definition screen display and doubles the number of images that can be displayed on the monitor from 30 to 60 per second to provide smoother motion images. The mirror can be easily switched from a standard inside mirror to a liquid-crystal display, providing both rearward visibility and rear seat views. (From an article in the Nikkan Jidosha Shimbun on September 23, 2016)

Development road map to 2025

Front lamps Signal lamps Interior lamps Mirrors/Cameras
(Large and luxury vehicles)
Picture beam Kinetic signal lamp Driver support light Camera monitor system
(Medium-sized vehicles)
ThinLED unit Window lighting Door panel illumination New structure exterior mirror
(Small vehicles)
PeopLED module MonoLED unit LED standard room light Low cost glass actuator

R&D Expenditure

(in million JPY)
FY ended Mar. 31, 2017 FY ended Mar. 31, 2016 FY ended Mar. 31, 2015
Overall 6,540 6,508 6,172
-Automotive components 6,216 6,202 5,879

R&D Structure

Department Functions
Technical Center
(within Isehara Plant)
Development of advance technology and new products
Production Engineering Development of products that reach commercialization
Commercialization of products that the Company developed

R&D Activities

Major R&D Projects in FY ended Mar. 31, 2017
-Lighting equipment and signals

  • Development of highly functional automotive lamp devices that offer improved safety and security
  • Development of high-definition automotive signals that capitalize on car design
  • Research on situation-sensitive light distribution properties and evaluation systems
  • Development of environmentally friendly new light sources

-View-related Devices

  • Development of camera monitor system (CMS) as a mirror replacement (in connection with a change in laws)


  • Development of LED driver modules (LDMs) and electronic control units (ECUs)

Capital Expenditure

(in million JPY)
FY ended Mar. 31, 2017 FY ended Mar. 31, 2016 FY ended Mar. 31, 2015
Overall 12,513 9,717 8,991

-In the fiscal year that ended in March 2017, the Company made a capital investment of JPY 12,513 million mainly in the automotive parts business to switchover to producing new products, respond to redesigned vehicle models, reduce labor costs, and streamline operations.
-The details are outlined below.

Plant Location Segment (business division) Amount of investment
(in million JPY)
Isehara Plant Kanagawa Pref.,
Automotive parts 3,830
Fujioka Plant Gunma Pref.,
Automotive parts 4,966
Kyusyu Ichikoh Industries Ohita Pref.,
Automotive parts 2,886

Major investment projects

(as of March 31, 2017)
Segment (business division) Planned amount of investment
(in million JPY)
From To
(Isehara, Kanagawa)
Auto parts production facility 9,905 April 2017 December 2017

-The Company announced that PT. Ichikoh Indonesia, a subsidiary of Indonesia which is the joint venture with a local company PT. Pioneer, has been made a contract to purchase all their 30% shares and made it a wholly owned subsidiary. The subsidiary is on the way of investing the amount of JPY 1.1 billion from FY 2016 to FY 2017. (From a press release on April 20, 2017)

Financial forecast for FY ending March 2018

(in million JPY)
FY ending Mar. 2018
FY ended Mar. 2017
(Actual Results)
Rate of change
ales 90,900 113,195 (19.7)
Operating income 3,800 4,809 (21.0)
Ordinary income 4,300 5,233 (17.8)
Net income 3,700 5,916 (37.5)

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