Johnson Electric Group Business Report FY ended Mar. 2015

Financial overview

(in million USD)
FY ended Mar. 31, 2015 FY ended Mar.31, 2014 Rate of change Factors
Sales 2,136.05 2,097.62 1.83% Note:1)
Operating profit 242.78 233.49 3.98% -
Profit before taxation 249.06 242.99 2.50%
Profit after taxation 219.81 214.90 2.28%
Automotive Products Group (APG)
Sales 1,457.45 1,436.80 4.47% Note:2)

-The 1.83% increase in total sales to US$2,136.05 million reflected strong demand from automotive customers, lower sales to industrial customers, fluctuations of foreign exchange rate and divestment of non-core business.

Automotive Products Group

-The Automotive Products Group (“APG”), the largest operating division, achieved sales of US$1457.45 million, an increase of 1.44% compared to a year earlier. The Company's regional market increased in Asia and Europe and decreased in America.

-Excluding currency effects, sales changes from FY ended Mar. 31, 2014 to FY ended Mar. 31, 2015: Overall increased 7%, Asia increased 4%, Europe increased 10% and Americas decreased 1%.

-In China, the Company maintained strong growth momentum in Asia. This is driven by the success of the Company's cooling fan products, windows, electric steering wheels, engine fuel management products and shift gearboxes.

-In Europe, the Company's sales turnover increased, especially sales of engine airflow management products, HVACs, cooling hydraulic valves, electric windows and electric parking brake application products.

-In the Americas, sales turnover of seat-angle applications and engine cooling fan products fell. In North America, sales volume of car air conditioning actuators fell. This decline was partially offset by sales increase of shift gearbox and driving feedback application products.

New Plant

-In September 2014, the Company's new plant in Nis, Serbia opended. As of May 2015, the plant has came into operation.

R&D Structure

- Engineering centers are located in Hong Kong, Germany, Switzerland, UK, Italy, Japan, China, Israel and the USA.

New Products

-In 2014, the Company introduced the latest generation turbochargers for compact motors. The product has a higher torque than traditional ones, which can improve fuel efficiency. (From the Company's 2015 Annual Report)

-In July 2014, the Company announced an actuator platform for automotive HVAC air flow control. The new HVAC platform offers a wide speed and torque range in DC and Stepper motor options. It operates with the lowest noise on custom torque and speed. (From a press release on July 17, 2014)

-The Company announced a cinching latch motor platform for automotive power tailgate closure. This new motor platform provides the industry's highest power density in a compact package. Compared with existing motor technology, the new platform is 15 percent smaller, but can deliver a 20 percent higher torque for fast and reliable cinching actuation. The cinching motor platform has integrated electronics with advanced EMC suppression. The motor supports a range of power tailgates used in full size SUVs, compact SUVs and hatchbacks. (From a press release on March 18, 2014)


-In March 2014, the Company announced a powerful platform for electric power steering (EPS) system. This EPS brush motor platform employs innovative design features to generate the industry’s highest steering power and to achieve the lowest cogging torque. Compared with existing brush motor technology, it delivers 20 percent higher steering power and 10 percent lower cogging torque. In addition, the motor is 10 percent lighter than existing brush motors, offering high fuel economy. The EPS motor is expected to provide a cost effective and efficient steering solution. (From a press release on March 12, 2014)

-The Company announced a high torque motor platform for electric park brake (EPB) systems. This new motor platform delivers the industry’s highest braking torque and longest operation cycles within a compact package. The EPB motors delivers 15% higher torque, 60% more operation cycles and advanced electromagnetic compatibility. This new motor platform is designed for caliper, drum and cable type electric parking brakes. (From a press release on February 11, 2014)

Capital investment

(in million USD)
FY ended Mar. 31, 2015 FY ended Mar.31,2014 FY ended Mar.31,2013
Total 119.9 92.2 82.6

Overseas Investment

-The Company announced that it is currently constructing a new plant in Nis, Serbia. The construction project started in October 2013, and production is scheduled to begin in Fall 2014. The new 10,000-square-meter facility will have production lines to make plastic components and metal parts for automakers such as BMW, Volvo, and Jaguar. The company will initially hire 250 people at the factory, planning to expand the workforce to 1,050 by July 2016. The Serbian government has indirectly invested EUR 9 million in this project. (From news releases issued by multiple sources on March 12, 2014)