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5. TPR Co., Ltd. Business Report FY ended Mar. 2017

TPR Co., Ltd. Business Report FY ended Mar. 2017

*1：Includes business activities by the Company’s European and South American local corporations.

Contracts

-The Company has received an order for its newly-developed aluminum alloy-made brake drum for use in electric vehicles (EVs) and will start supplying components in 2018. The new brake drum is lightweight and at the same time ensures high braking performance equivalent to cast-iron brake drums. A vehicle equipped with the aluminum alloy brake drums in its four wheels is about 5 kg lighter than the same vehicle fitted with cast-iron brake drums. The Company is also developing an aluminum alloy brake drum for European and U.S. OEMs and plans to put it to practical use in 2020. Drum brakes are mostly adopted for low-priced models like compact vehicles with engine displacements of around 1300 cc and mini vehicles. The Company will promote the new brake drum as a component that combines high performance with light weight in an effort to receive more orders. (From an article in the Nikkan Jidosha Shimbun on February 24, 2017)

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

Mid-term Management Plan

-In 2015, the Company announced its mid-term management plan that starts from the fiscal year ending in March 2016 and ends in the fiscal year ending in March 2018. Sales targets are provided below.

• Consolidated sales: JPY 193,300 million (TPR's amount: JPY 105,000 million; Faltec's amount: JPY 88,300 million)
• Operating income: JPY 26,000 million (TPR's amount: JPY 20,400 million: Faltec's amount: JPY 5,600 million)

-The fiscal year that ended in March 2017 was the mid-term year for the mid-term management plan implemented under the slogan Innovation & Expansion. Taking advantage of global synergies, the Company is striving to further increase its sales as an innovative and globally diversified company manufacturing high-quality products.

Long-term Targets

-The Company is aiming to achieve the following targets under T&F GOAL2220, in collaboration with Faltec, which was listed on the Tokyo Stock Exchange in March 2013.

• Consolidated sales: JPY 220,000 million
• Net profit of parent company: JPY 20,000 million

Major R&D Facilities

-R&D activities are conducted at the Technical Centers located within the Nagano Plant and in the Okaya-City, Nagano Pref. Japan.

R&D Activities

-The Company worked on developing new products from a variety of aspects. These included lower friction, heat control, lighter weight, cleaner exhaust gas emissions, and alternate fuels (bio-fuels, CNG).

-The Company, in working to make products that have even greater levels of precision, developed new production methods that automate inline measuring, radically reduce costs, and minimize energy used in production operations.

-The Company is migrating its new technologies to business operations outside Japan, working to achieve the world’s highest level of identical quality by partnering with companies outside Japan, and conducting PR activities promoting new products and technology to customers outside Japan.

-In order to quickly respond to the needs arising in line with the growth of electric vehicles, the Company is strengthening its capabilities in non-powertrain products. As a result, the Company focused its energy in introducing new technology in seals that mainly include rubber and composite products made lighter in weight by the use of aluminum and plastics. In this regards, the Company is building its R&D framework to create functional, cost-competitive products ahead of its customers, while exploring new business sectors.

R&D Achievements

1) Piston rings
-Development of super low friction rings and low LOC (lubricating oil consumption) rings which are designed to improve fuel economy.
-Development of highly-functional oil rings, which are designed to improve reliability.
-Creation of a production line that is designed to radically reduce the production costs of piston rings.

2) Cylinder liners
-Commercialization of liners for small engines. These liners are smaller in diameter, have super thin walls, are lightweight, and have superior heat-conducting properties, enabling them to respond to the needs for greater output and improved fuel consumption and reliability.
-Commercialization of low friction heat control liners.
-Commercialization of cylinder liners which have high mechanical strength.

3) Valve seats, valve guides
-Commercialization of valve seat materials which are capable of responding to the need for alternative fuels. These materials are highly resistant to abrasion.
-Development of a new production line with innovative features that remarkably lower costs, enabling the production of low-priced products.
-Commercialization of sintered valve guides.


1) Aluminum-based products
-Commercialized an aluminum wheel for 4 wheel vehicles for aftermarket by creating a new casting method and installing equipment.
-Commercialized an aluminum brake drum by applying a centrifugally casted spiny shaped FC material.

2) Sintered mechanical parts
-Create innovative cost-cutting methods to develop sintered mechanical parts for small sized seal-ring for turbochargers, to respond to low-cost needs.

3) Plastic and rubber products
-Commercialized plastic seal-rings for transmissions.
-Created greater precision electromagnetic valve spool rubber seals.

-In the fiscal year that ended in March 2017, the Company spent JPY 13,541 million on capital investments to boost production facilities and continue to expand and organize its production plants overseas.