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  5. Nikki Co., Ltd. Business Report FY ended Mar. 2015

Nikki Co., Ltd. Business Report FY ended Mar. 2015

Financial Overview

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 Rate of
Change (%)		 Factors
Overall
Sales 10,300 9,709 6.1 -Strong sales of all-purpose devices.
Operating income 597 582 2.6 -Income increased due to increased sales and improved profitability at the all-purpose-device operations.
Ordinary income 720 605 19.0
Current net income 629 528 19.1
Automotive device business
Sales 769 894 (14.0) -Business results were lower year-on-year due to fewer sales of automotive carburetors.
Operating income 62 118 (47.5)
Gas device business
Sales 4,449 4,364 1.9 -Sales increased as a result of developing more outsourcing opportunities.
Operating income 182 223 (18.4) -Operating income fell due to greater prior expenses for testing facilities and equipment.

R&D Expenditure

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Overall 46 65 76
-Gas appliance business 27 37 34
-Automotive device business 1 5 18

R&D Activities

-Development activities on ECUs (Electronic Control Units), which are needed by all the business divisions, in order to make them more compact; and research activities on new logic about control. In addition, development activities on exhaust-gas emissions regulations, technology to comply with product planning/designing, and development activities on technology to create products compliant with OBD (On Board Diagnosis)　etc.

Gas appliance business
-Development activities on electronically controlled fuel-injection systems for CNG and LNG vehicles that use LNG, which has gained a lot of interest as an alternative energy; plus, development activities on engine-control technology related to these.

Automotive device business
-Development activities on parts for alternative-fuel-supply systems and parts for systems designed to comply with future exhaust-gas-emissions regulations.

Capital Investment

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Overall 883 1,371 380
-Gas device business 64 953 241
-Automotive device business 18 34 21


-The Company focused investment on products and R&D areas expected to provide growth in the long term. It also made investments in labor savings, work rationalization and improved product liability.

Automotive device business
-The Company made capital investments in streamlining production.

Gas appliance business
-The Company invested in facilities and equipment corresponding to new models and more streamlined production.

Planned Capital Investments

 (As of Mar. 2015)
Site Name Location Segment Purpose Planned investment
(million JPY)		 Start Planned completion
Atsugi Plant Atsugi city, Kanagawa Pref. Gas device business To streamline manufacturing facilities, etc. 141 Apr. 2015 Mar. 2016
Automotive device business,
Gas device business,
General-purpose business		 To streamline manufacturing facilities, etc. 289 Apr. 2015 Mar. 2016

Data

Business Segment Mar. 2015 Mar. 2014 Mar. 2013
Automotive device business 69 69 78
Gas device business 146 158 138
General-purpose device business 378 328 298
Real estate rental business - - -
In common 44 44 36
Total 637 599 550

Sales by Segment

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Sales Operating Income Sales Operating Income Sales Operating Income
Automotive device business 769 62 894 118 914 87
Gas device business 4,449 182 4,364 223 3,796 193
General purpose device business 8,475 88 6,531 (153) 5,394 (156)
Real estate rental business 552 458 549 479 549 475
Consolidated elimination (3,946) (193) (2,630) (86) (2,069) 58
Consolidated 10,300 597 9,709 582 8,584 658

 

Sales by Geographic Area

(in million JPY)
FY ended Mar. 31, 2015 FY ended Mar. 31, 2014 FY ended Mar. 31, 2013
Japan 4,788 4,187 4,257
U.S.A. 3,597 2,968 2,507
Korea 946 1,270 1,243
Other 969 1,283 576
Total 10,300 9,709 8,584

Consolidated
FY ended Mar. 31, 2011 FY ended Mar. 31, 2012 FY ended Mar. 31, 2013 FY ended Mar. 31, 2014 FY ended Mar. 31, 2015
Sales (Thousand yen) 8,040,101 8,982,281 8,584,283 9,709,294 10,300,737
Income from ordinary business activities (Thousand yen) 395,880 826,298 749,458 605,273 720,689
Net income (Thousand yen) 317,953 1,247,598 909,155 528,399 629,109
Comprehensive income (Thousand yen) 209,902 1,313,926 1,235,157 865,312 1,035,231
Net assets (Thousand yen) 2,271,864 3,547,186 4,594,241 5,334,330 6,228,352
Total assets (Thousand yen) 9,380,257 10,616,962 11,557,247 12,816,258 13,807,327
Book value per share (yen) 217.11 351.20 481.95 556.17 659.86
EPS (yen) 33.91 133.06 96.98 56.37 67.12
Diluted EPS (yen) - - - - -
Net asset ratio (%) 21.7 31.0 39.1 40.7 44.8
ROE (%) 16.4 46.8 23.3 10.9 11.0
PER 6.8 2.0 4.3 5.2 6.5
Cash flow from operating activity (Thousand yen) 969,834 1,470,275 1,171,626 931,600 972,044
Cash flow from investment activity (Thousand yen) (48,758) 33,551 (739,562) (1,392,721) (1,277,232)
Cash flow from financial activity (Thousand yen) (341,074) (180,385) (320,958) (266,249) 375,101
Balance of cash and cash equivalents (Thousand yen) 1,288,386 2,648,509 2,655,873 1,886,442 1,821,141
Number of employees 566 556 550 599 637

 

Non Consolidated

FY ended Mar. 31, 2011 FY ended Mar. 31, 2012 FY ended Mar. 31, 2013 FY ended Mar. 31, 2014 FY ended Mar. 31, 2015
Sales (Thousand yen) 6,944,996 7,698,426 7,312,366 8,089,003 8,754,120
Income from ordinary business activities (Thousand yen) 257,338 745,696 781,318 798,878 796,975
Net income (Thousand yen) 243,509 1,211,567 901,077 735,034 611,574
Paid-in Capital (Thousand yen) 500,000 500,000 500,000 500,000 500,000
Number of shares outstanding (1,000) 10,000 10,000 10,000 10,000 10,000
Net assets (Thousand yen) 1,914,015 3,156,163 4,304,713 5,028,139 5,826,769
Total assets (Thousand yen) 8,847,041 10,124,695 11,161,805 12,222,214 13,091,729
Book value per share (yen) 204.14 336.63 459.21 536.43 621.70
Dividend per share (yen) 3 6 7 8 10
EPS (yen) 25.97 129.22 96.12 78.41 65.25
Diluted EPS (yen) - - - - -
Net asset ratio (%) 21.6 31.2 38.6 41.1 44.5
ROE (%) 13.3 47.8 24.2 15.8 11.3
PER 8.9 2.1 4.3 3.8 6.7
Payout ratio (%) 11.6 4.6 7.3 10.2 15.3
Number of employees 278 272 265 269 263