Ichitan Co., Ltd. Business Report FY ended Mar. 2014

Acquired by Fuji Heavy Industries

-Fuji Heavy Industries Ltd. (FHI) announced on March 31 that the Company, a FHI Group forging manufacturer, will become a wholly owned subsidiary of FHI as of August 1. Suffering financially from the global recession, the Company recorded a consolidated net loss of JPY 28 million for FY 2008 ended on March 31, 2009. For FY 2009, the Company is expecting that its business performance should improve in response to favorable sales of engine and drivetrain parts for the "Subaru Legacy, " which, however, will not be enough to resolve its excess liabilities. FHI, therefore, will strengthen the Company's financial base by making it FHI's wholly owned subsidiary and provide technological and personnel support in order to reconstruct the Company's business. The arrangement will be officially approved at the ordinary general meeting of Ichitan's shareholders on June 29. The common stock of Ichitan will be delisted as of July 28. (From an article in the Nikkan Jidosha Shimbun on April. 1, 2010)

R&D Expenditure

(in million JPY)

	FY ended Mar. 31, 2011 and after	FY ended Mar. 31, 2010	FY ended Mar. 31, 2009
Overall	N/A	45	45

Capital Expenditure

(in million JPY)

	FY ended Mar. 31, 2011 and after	FY ended Mar. 31, 2010	FY ended Mar. 31, 2009
Overall	N/A	101	1,113

Data

Segment	Mar. 2015	Mar. 2014	Mar. 2013	Mar. 2012
Total (Non Consolidated)	190	190	190	190

Performance

(in million JPY)

	FY ended Mar. 31, 2015	FY ended Mar. 31, 2014	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011
Sales	16,977	15,059	14,126	13,868	12,900
Operating income	928	827	803	850	625
Ordinary income	950	838	823	853	593
Net income	553	535	761	555	453