Financial Overview

(in million dollars)

	FY2011	FY2010	Rate of change (%)	Factors
Overall
Net Sales	14,156.5	11,954.6	18.4	1)
Gross Profit	1,193.2	1,018.3	17.2	-
Seating
Sales	10,943.0	9,395.3	16.5	2)
Electrical Power Management Systems
Sales	3,213.5	2,559.3	25.6	3)

Factors
1)
-Net sales for the year ended December 31, 2011 were an increase of 2.2 billion dollars or 18%. New business and improved production volumes on Lear platforms positively impacted net sales by 945 million dollars and 635 million dollars, respectively. The impact of net foreign exchange rate fluctuations was partially offset by the impact of selling price reductions.

2)
Seating
-Seating net sales for the year ended December 31, 2011 were an increase of 1.5 billion dollars or 16%. New business, improved production volumes on Lear platforms and net foreign exchange fluctuations positively impacted net sales by 823 million dollars, 289 million dollars and 280 million dollars, respectively.

3)
Electrical Power Management Systems
-EPMS net sales for the year ended December 31, 2011 were an increase of 654 million dollars or 26%. Improved production volumes on Lear platforms, new business and net foreign exchange rate fluctuations positively impacted net sales by 346 million dollars, 122 million dollars and 97 million dollars, respectively.

Outlook
-Revenues for fiscal 2012 are expected to be in the range of 13,850 million dollars to 14,350 million dollars.

Contracts

Maker / Model	Products
Chevrolet "Volt"	-Traditional and high-power electrical distribution system -Battery charging systems -Seat recliners -Seat frames
Ford "Focus"	-Smart junction box -Electrical distribution system
Audi "A6"	-Seat
BMW "X5"	-Seat -Electronics
Hyundai "Sonata"	-Seat
Cadillac "Escalade"	-Seat

Awards

-In 2011, the Company was awarded "Supplier of the Year for Seat Assemblies" by GM.

R&D Expenditure

(in million dollars)

	FY2011	FY2010	FY2009
Overall	Approx. 111	Approx. 81	Approx. 83

Patents

-The Company has over 100 patents and patents pending in its high-power product segment.

R&D Structure

-Technology development is conducted worldwide at its six advanced technology centers and at its product engineering centers.

R&D Facilities

Global innovation and technology center	Southfield, Michigan	-Develop and integrate new concepts -Its central location for consumer research, benchmarking, craftsmanship and industrial design activity
Advanced Efficiency Systems Global Center of Excellence	Southfield, Michigan	-Development of high-power wiring, terminals and connectors and power electronics

Capital Expenditure

(in million dollars)

	FY2011	FY2010	FY2009
Seating	184.0	114.2	19.0
Electrical Power Management Systems	139.4	71.1	16.9

Investments Outside USA

<Morocco>
-The Company announced the opening of a new electronics facility in Rabat, Morocco. The new facility in Rabat supplies electronics such as battery chargers and gateway modules to European automakers including BMW, Renault and Volkswagen. The 14,340 square-meter facility currently houses 130 employees and will employ approximately 230 people by the end of 2011. (From a press release on May 17, 2011)