Ichikoh Industries, Ltd. Business Report FY ended Dec. 2018

Financial Overview

(in million JPY)
Rate of Change (%) Factors
Sales 140,600 94,070 N/A -Sales and income rose at the automotive parts business, thanks to an increase in product orders and the recovery in business results at the ASEAN subsidiary.
Operating income 9,003 3,971 N/A
Ordinary income 9,694 4,660 N/A
Net income attributable to owners of the parent 9,756 3,792 N/A -

*The Company’s fiscal year had always ended on March 31st every year, but since FY2017, the end of the fiscal year was changed to December 31st.


R&D Expenditure

(in million JPY)
FY ended Dec. 31, 2018 FY ended Dec. 31, 2017 FY ended Mar. 31, 2017
Overall 7,265 5,429 6,540
-Automotive components 6,990 5,223 6,216


R&D Activities

-Valeo Japan Co., Ltd. (Valeo Japan) and its subsidiary Ichikoh Industries Ltd. (Ichikoh) have consolidated their facilities in Aichi Prefecture, Japan to jointly establish a Nagoya Technical Center. This is the first technical center for the two companies. Valeo Japan and Ichikoh aims to expand the group's business by strengthening cooperation between their research and development (R&D) and sales divisions. Valeo Japan's sales office in Toyota and Ichikoh's Chubu Branch, which had R&D and sales functions, have been consolidated to establish the Nagoya Technical Center. Ichikoh moved to the new building on May 7 and Valeo Japan will start operations there on May 14. At its inception, the center will have about 150 employees, and the headcount will be increased to 200 in the medium term by adding mainly R&D personnel. (From an article in the Nikkan Jidosha Shimbun on May 11, 2018)


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


Capital Expenditure

(in million JPY)
FY ended Dec. 31, 2018 FY ended Dec. 31, 2017 FY ended Mar. 31, 2017
Overall 8,681 8,378 12,513

-The details are outlined below.

Plant Location Segment (business division) Amount of investment
(in million JPY)
Isehara Plant Kanagawa Pref.,
Automotive parts 2,074
Fujioka Plant Gunma Pref.,
Automotive parts 3,897


Investment in Japan

-The Company announced in September 2017 that it will construct a new production plant in Mori No Sato located in Atsugi, Kanagawa Prefecture. The plant will produce automotive lamps. The new plant, called "Mori No Sato Works", will incorporate Valeo’s production-technology concept and launch operations in July 2019. Products at the nearby Isehara Plant will be gradually migrated to the new plant. The volume of product orders that the Company is receiving has been high. As a result, it decided to build a new plant in Japan with improved efficiency to produce automotive lamps. The Company will invest JPY 16.4 billion in the new plant.


Major investment projects

(as of December 31, 2017)
Segment (business division) Planned amount of investment
(in million JPY)
From To
Atsugi Plant
(Atsugi, Kanagawa)
Auto parts production facility 16,400 Feb. 2018 Jul. 2019
Fujioka Plant (Fujioka, Gunma) Auto parts production facility 4,925 Jan. 2018 Dec. 2019
Isehara Plant (Isehara, Kanagawa) Auto parts production facility 3,231 Jan. 2018 Dec. 2019