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5. Musashi Seimitsu Industry Co., Ltd. Business Report FY ended Mar. 2018

Musashi Seimitsu Industry Co., Ltd. Business Report FY ended Mar. 2018

Business Activities

-Leveraging the synergy effects that resulted from the acquisition of the HAY Group, which was completed in 2016, the Company is manufacturing motorcycle parts making use of the HAY Group’s expertise in ultra-highspeed forging machines and large-size-gear production technology, in order to strengthen sales activities mainly in Europe. In addition, one means of responding to the expanding Chinese market was establishing a new R&D center in the country and increasing capacity mainly at the operations in Nantong. The Company is responding to the needs for local R&D and production activities.

-From a sales perspective, the Company received greater numbers of orders worldwide for differentials, its major product item. Also, inquiries for next-generation products such as high-precision gears are increasing in line with the growing demand for electric vehicles.

Contracts

-Major supply agreements made during the fiscal year that ended March 2018:

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

R&D Structure

R&D Activities

Development of Powertrain Products
Drivetrain Product Development

-The Company started commercial production of light-weight differential assemblies that are 10% lighter in weight than previous ones, equipping them with its proprietary small-size, high-precision bevel gears. It is working to find further applications for them.
-The Company is steadily winning orders for its light-weight differential assemblies designed to respond to each level of engine displacement.
-The Company is conducting a constant level of R&D activities on weight reduction and local procurement in continuing activities to win new orders.

-The Company is sharing its expertise with its production facilities outside Japan in order for them to ensure the same level of quality as that being attained in Japan. It started commercial production of planetary assemblies that are highly competitive. Going forward, it will conduct sales activities highlighting the capabilities of its production technology.

Development of Linkage & Suspension (L&S) Products
Suspension product development
-Winning new orders for compact ball joints developed by using optimal designs and positioning weight reduction as the focal point by optimizing the use of aluminum.
-In order to further reduce environmental impact, the Company is developing light-weight products made of aluminum and conducting sale activities to increase orders.

Advanced-Technology Development
-The Company is conducting R&D activities to develop proprietary electronic control units that are smaller, lighter, and more efficient; for hybrid, electric, and personal-mobility vehicles.
-The Company is researching the control mechanisms of electronic control units by using simulation and rapid-prototyping technology based on CAE.
-The Company is conducting analysis on required functions based on ISO26262.

Production-Technology Development

-In the area of processing, the Company is designing optimal processes, aiming to initiate local procurement of its own-brand products.
-Create technology that differentiates differentials by reducing their size and weight. Advance process design that puts local characteristics to use and makes use of local facilities.
-The Company developed production methods to produce high-precision planetary assemblies for use in recently developed, lightweight, and compact multiple-stage automatic transmissions.

-Focusing on ways to reduce the costs for rack end housings, such as reducing the number of processes and costs, working to launch commercial production in FY2018.
-Working to jointly develop the forging of the low-cost MT DOG that can overcome global competition; through combining the respective technologies of both Musashi Seimitsu and HAY.

Investments Outside Japan

-The Company will increase production capacity at Musashi Seimitsu Auto Parts (Nantong) Co., Ltd. in Nantong, Jiangsu, China. First, an integrated production system of differential assemblies will be established by 2020. The Nantong facility, which has processed cases of differential assemblies, will handle production and assembly of differential gears by installing new equipment. The differential gear is a major component of differential assemblies. For the medium- and long-term, the Nantong facility will increase its production items to include ball joints and other automotive parts. Musashi Seimitsu intends to expand its business in China, where the automotive market continues to grow, by increasing supply of automotive parts. (From an article in the Nikkan Jidosha Shimbun on March 15, 2018)

-will start research and development in China by the end of this year. The supplier established a research and development center in China to supply products that meet the needs of locally-funded OEMs whose technological level is rising, as well as Japanese OEMs expanding their Chinese operations. Musashi Seimitsu is installing testing equipment and creating a system there to speedily develop products that suit customers' requirements. The company also established a research and development center in North America in 2016. It plans to establish that in Europe as well to strengthen its research and development structure and expand business globally. The Chinese R&D center was established in 2017 and will be fully operational in 2018. The R&D center will promptly develop parts that fulfill demand from the Chinese market, while the company's center in Japan will continue leading basic technology and upfront development. (From an article in the Nikkan Jidosha Shimbun on March 22, 2018)