Financial Overview

(in millions of JPY)

	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011	Rate of Change (%)	Factors
Sales	52,937	46,391	14.1	-
Operating income	809	2,022	(60.0)	-
Ordinary income	702	1,750	(59.9)	-
Net income	248	671	(63.0)	-

R&D Expenditure

(in millions of JPY)

	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011	FY ended Mar. 31, 2010
Overall	313	357	342

R&D Structure

-The Company has technical center in Tsuchiura City, Ibaraki Prefecture and Kitakami City, Iwate Prefecture. 

R&D Activities

-In conducting R&D activities on new products, the Company succeeded in developing, and winning new business for, commercial-vehicle suspension parts that use RD800, which is a high-strength/high-ductile material developed by the Company. In addition, the Company began its first commercial production of a turbine-housing, an automotive part taking the high-heat load of the engine exhaust-gas system.

Capital Investment

(in millions of JPY)

	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011	FY ended Mar. 31, 2010
Overall	1,300	2,400	1,000

-The Company invested to upgrade its casting facilities and enhance its processing facilities.