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5. Pacific Industrial Co., Ltd. Business Report FY ended Mar. 2018

Pacific Industrial Co., Ltd. Business Report FY ended Mar. 2018

Product Orders and Awards of Recognition

-On May 22 The Company announced that it would acquire three Schrader Group companies producing automotive valves, one based in the U.S. and two in France, from U.K.-based Sensata Technologies Holding PLC (Sensata). The transaction, which is being valued at a total of approximately JPY 20 billion, is expected to be concluded by the end of July 2018. By enhancing its presence in the U.S. and Europe, in which Schrader has strength, Pacific Industrial will advance its global operation under a tetrapolar production structure. The company will enhance non-automotive valve business as well. Schrader has an established presence in the U.S. and Europe as a valve supplier for automobiles, aircraft, and industrial machinery. (From an article in the Nikkan Jidosha Shimbun on May 23, 2018)

Contract and Awards

-Stamped products: Developed a cold-stamping method that forms front side member reinforcements from high-tensile steel, winning the CE Special Award for Toyota’s Camry Project.

Medium-term management plan OCEAN-20

-The Company will formulate a long-term vision reaching until 2030 by the end of 2018. In the vision, the company aims to enhance its development and production technologies for tire valve- and automobile-use stamped parts, and utilize the Internet of Things (IoT). While enhancing its competitiveness in the existing businesses to establish a foundation for its future operations, Pacific Industrial will use its management resources in IoT intensively. It is expected that the electrification of vehicles and cooperation among suppliers will advance in the next ten years. To keep pace with industry trends, the company will strengthen its ties with other companies and universities. The long-term vision will gradually be made more concrete as the company releases its mid-term plans every three years. The first three-year mid-term plan, called "Ocean-20," will aim to increase sales in fiscal year 2020 (ends in March 2021) by 35% from FY 2016 to JPY 140 billion. After that, the company's growth strategy will be formulated and implemented in three stages. (From an article in the Nikkan Jidosha Shimbun on January 22, 2018)

-The Company is initiating the following in order to achieve the objectives outlined in its mid-term management plan:

• Reduce weight of stamped frame-parts in order to reduce body weight
• Set up a production structure that responds to the need for high-tensile parts
• Launch operations at Plant No. 2 at the Yoro Plant, in order to expand the production capacity of forged-stamped parts
• Improve the functionality and reduce the weight of resin products by using new materials and production methods
• Develop new TPMSs and increase production capacity in China

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

R&D Structure

-The R&D organization consists of the technology and production technology functions at each business, and the technology planning function.

-The Company's subsidiary, PI Systems, conducts R&D activities on software.

R&D Activities

<Stamping/resin products>
-In Japan, the company invested to install stamping facilities at the Higashi-Ogaki Plant and boost production and migrate to producing new products/dies for use on new-vehicle models.
-Outside Japan, the Company invested to expand and install stamping facilities at the Ohio Plant in the USA.
-In October 2017, completed construction of a new production plant in Thailand, with production to start from 2019.


-In Japan, the Company invested to expand the plants of and install machining equipment for the Pressure-forging Business.
-Outside Japan, invested to produce new aluminum diecast products and respond to increased production at its Korean Plant.

-The Company plans to make capital investments of JPY 19,480 million during the fiscal year that ends in March 2019.