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4. Fuji Kiko Co., Ltd.
5. Fuji Kiko Co., Ltd. Business Report FY ended 2015

1) Sales by region:
-Japan: Decreased 5.3% year-on-year (y/y) to JPY 48,527 million due lower demand at some customers.
-Americas: Increased 31.7% y/y to JPY 19,684 million, thanks to the North American steering-column and seat subsidiaries' receiving greater numbers of product orders due to strong automotive sales in North America.
-Europe: Decreased 11.3% y/y to JPY 17,755 million due to unfavorable currency translation because of the higher valuation of the yen, and due to lower demand at major customers.
-China: Increased 18.4% y/y to JPY 13,947 million due to favorable currency translation because of the weaker valuation of the yen, and due to the seat and powertrain subsidiaries receiving greater numbers of product orders.
-Southeast Asia: Increased 19.3% y/y to JPY 7,139 million as a result of greater product orders received by the steering-column subsidiary in Thailand.

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

R&D Structure

-R&D activities are basically being conducted by the Company, meaning that the Company in Japan supports its subsidiaries overseas by conducting all basic development activities up to the prototype stage. The subsidiaries then take over from the trial-production stage, making further product developments appropriate for the actual vehicle models.
-Currently, the Company has 368 members working in R&D, including members working in prototypes and testing.
-As of the end of March 2015, the Company has 415 industrial property rights (188 in Japan, and 227 outside Japan).

-The Company announced that it will invest approximately JPY 2 billion to construct a technical center in Shizuoka Prefecture, Japan. The center will cover a land area of 4,538 square meters and a floor area of 6,438 square meters. Construction is scheduled to start in November 2014 and to be completed by February 2016. By integrating its development functions in the region into the new facility, the company aims to reduce development lead-time. (From a press release on October 28, 2014)

R&D Activities

Steering column business
-The Company is working to reduce product costs and weight while trying to improve safety and product appeal. It will do this by improving the level of plastic forming technologies it uses. It plans to achieve this by reaching the required level of functions and performance demanded for steering columns by utilizing the most optimal mechanisms and designs.

-The Company is addressing the issues and needs surrounding globalization; enhancing its framework for conducting development activities in three regions (Japan, Europe, and the U.S.A.); and improving its competitive edge and product lineup by taking customer demand in the U.S.A. and Europe into consideration.

-The Company is jointly developing future technologies and products with automakers and system manufacturers to improve running performance.

Seating business
-The Company worked on developing functional core components and systems used in seats, such as seat recliners, height adjusters, slidesand lock. In response to the growing needs for environmental measures, safety, and comfort, the Company is engaged in reducing the size, weight and cost of products, as well as improving their strength and functions in addition.

-In order to produce seats locally in China, the Company established an R&D center in the country. This center is currently developing materials and production methods.

-The Company is developing products that can satisfy the seating layouts used in RV vehicles, hoping to improve their usability so as to satisfy increasingly diverse customers' demands.

-The Company conducted joint development activities with Tachi-S Co., Ltd., taking in development staff from the other company. The aim is to benefit from synergy effects found between the companies, which include, for example, improvement of development speed.

Powertrain Business
-The Company, in creating automatic-transmission shifters that offer even more competitive advantages through cost and weight reductions, is developing standard type shifters. Also, the Company is currently developing more compact products for the future in responding to improving product appeal by enhancing product feel and sound.

-In order to strengthen its competitive advantages in the power-train business, such as making its drive plates lighter and lower in price, the Company continued R&D activities by making use of the expertise it has in its proprietary plastic processing technology and analytical technology.

-The Company is developing components for heavy vehicles such as manual-transmission and automatic-transmission control parts, based on its customers' specifications.

-In the fiscal year ended March 2015, the Company invested to start construction of a technical center in Japan, increase production capacity in emerging countries such as China and Indonesia, and reorganize its production structure in order to respond to new orders received in Europe.
-In the fiscal year ended March 2015, "others" refers to expenses used to construct a technical center.