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5. T.RAD Co., Ltd. Business Report FY ended Mar. 2017

T.RAD Co., Ltd. Business Report FY ended Mar. 2017

Factors
1) Sales at the Automotive Heat-exchanger Business
-Japan: Orders from customers increased because they had higher sales of more vehicle models.
-USA: Production was launched of products that were for both new and current business orders. The sales of products sold by Tripac International Inc., in which the Company newly acquired stock in the first quarter, contributed to improving business performance, and as result sales increased significantly y/y/.
-Asia: Increases of products supplied to motorcycles in Thai and Vietnam and for automobiles in Indonesia.
-China: Production was launched of products that were for new and current business orders. Tax reductions on small cars encouraged new-vehicle buying and product orders from customers increased.

10th Mid-term Management Plan "T.RAD-10"

-In order to respond to global growth, increase production facilities in the U.S. and strengthen R&D functions outside Japan.
-Increase global sales of compact and high-efficiency casing-less oil coolers and EGR coolers as strategic products in the SMART Series, which covers minicars up to heavy-duty construction equipment.
-The TRA Profit Improvement Project was launched in response to a sudden increase in capital investment in line with T.RAD North America Inc.'s (TRA, a U.S. consolidated subsidiary) receiving greater numbers of orders.
-In order to respond to fewer orders for heat-exchangers in China due to the slowing economy, the Company worked to maintain and even increase sales of next-generation, environmentally friendly products such as automotive casing-less oil coolers and water-cooled intercoolers.

Eco-friendly products
-Major products: High-performance radiators, automotive intercoolers, EGR coolers, casing-less oil coolers, transmission (ATF) oil coolers/warmers, motorcycle radiators, automotive heat-recovery systems.
-In the fiscal year ending in March 2018, raise the companywide sales percentage of eco-friendly products to 40%. (They accounted for 39.0% in the fiscal year that ended in March 2017.)

"T.RAD-10" Target

Awards

-Awarded the Excellence in Quality Control Award from Hino Motors.

Product Development

New type super-compact EGR cooler

• Significantly smaller and lighter EGT cooler for gasoline and LPL diesel engines, based on using a new-type, high-efficiency fin. With conventional products as benchmarks at 100%, these new coolers have 120% higher performance and are 65% lighter.
• Expand global operations at each business in Japan, the ASEAN Region, Europe, and North America.
• Completed development of a new-type, high-performance EGR cooler for HPL diesel engines.

High-performance aluminum water-cooled oil cooler

• Multiple uses, as it is compatible for various types of transmissions, HV motors, and engine oils.
• Significantly smaller and lighter in weight due to high-performance fins. With conventional products as benchmarks at 100%, these new coolers have 110% higher performance and are 90% lighter.
• They come in various shapes: round, square, rectangular
• Expand business globally based on three regions around the globe: Japan, China, and North America

New-generation Radiator: "SMART" (SliM & Advanced Radiator Technology)

• New series of radiator compatible with all types of vehicles such as motorcycles, small-size cars, heavy-duty trucks, etc.
• 11% lighter but still achieve high performance due to the improved fin tubes. With conventional products as benchmarks at 100%, these new SMART radiators have 110% higher performance and are 90% lighter.
• Development of high-strength materials to expand sales globally.
• Production line was made more compact and uses less energy.

Development of Automotive Components

R&D Activities

-New product development and existing product improvements

• New business sector: Development of cooling systems for environmentally friendly vehicles such as hybrid vehicles, electric vehicles, and fuel-cell vehicles.
• Existing business sector: Conducting R&D activities on current products to improve their performance and make them more compact and lighter in weight. Modularizing and systematizing cooling products. Developing heat-exchangers, taking into consideration recycling and improving exhaust-gas emissions and fuel efficiency.

-Fundamental R&D: Conducting fundamental research on new materials and processes, which means researching materials for heat-exchangers and developing surface-treatment and brazing technology.

-The Company has 283 industrial property rights, as of the fiscal year that ended in March 2017.

R&D Structure

-Japan conducts the main R&D activities (new product development, existing product improvements, fundamental research)
-The Company has R&D functions in the U.S. and India, developing products in response to both Japanese and non-Japanese OEMs' needs.
-Some production of prototypes and some evaluation tests are conducted in the U.S., Europe, Asia, and China.

R&D Facilities

-In the fiscal year that ended in March 2017, T.RAD (Changshu) R&D Center Co., Ltd. was established in the premises of T.RAD (Changshu) Co., Ltd., a subsidiary in China. This latest R&D Center became the third one, in addition to the one in the USA and India.

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