NOK Corporation Business Report FY2010
Business Highlights
Financial Overview |
(in million JPY) |
FY 2010 | FY 2009 | Rate of Change (%) |
Factors | |
Overall | ||||
Sales | 498,932 | 414,753 | 20.2 | - |
Operating income | 35,134 | 12,655 | 177.6 | - |
Ordinary income | 32,426 | 10,363 | 212.9 | - |
Current net income | 16,685 | 1,279 | 1204.5 | - |
Sealing product division | ||||
Sales | 277,645 | 226,708 | 22.4 | 1) |
Operating income | 27,200 | 8,285 | 228.3 | - |
Sealing Product Division
1)
- Sales in the first half were stronger due to greater unit sales of autos, triggered by new-car sales incentives that were introduced. In the second half, however, sales were lower because auto sales dropped as a result of the sales incentives coming to an end; and on top of that, auto-makers' stopping production in the aftermath of the Great East Japan Earthquake.
-Sales of products destined outside Japan increased because of the recovery in the US market, and because of the robust demand in China, India, Thailand, and elsewhere.
As a result, overall annual sales of automotive seals increased.
Acquisitions
- Freudenberg has transferred its equity interest in Freudenberg Mektec Europa GmbH of Germany to the joint venture partner NOK Corporation. Freudenberg Mektec Europa develops and manufactures flexible printed circuits (FPC) for the automotive industry. Following the transaction, NOK has integrated Freudenberg Mektec in its subsidiary Nippon Mektron, a Japanese supplier of FPC. The company will be renamed Mektec Europe GmbH, effective July 1, 2010. (From a press release on June 30, 2010)>>>Financial Forecast for the Next Fiscal Year(Sales, Operating Income etc.)
R&D
R&D Expenditure |
(in million JPY) |
FY2010 | FY2009 | FY2008 | |
Overall | 6,375 | 6,433 | 7,952 |
Seal products | 4,807 | 4,689 | 6,456 |
R&D Activities
Sealing product division (FY2010)-The Company developed and launched sales of low-friction, automotive oil-seals, developing conventional coated seals and a new type of low-friction seal designed to reduce friction force, in addition to seals based mainly on rubber materials. Also, the Company launched sales of seals that offer better features such as being more dust resistant, which makes them capable of responding to poor rood conditions overseas such as in China and Thailand
-The Company developed O-ring coating materials that are eco-friendly and easier to install; and launched sales of products that respond to the latest coolant, 1234YF. The Company is in the process of developing gaskets for EVs and HEVs. It is working on developing gaskets, which provide electromagnetic shielding; and gaskets with low-reaction-force.-The Company is working to develop FPC composites in response to the greater penetration of onboard electronics, and is at the stage of conducting some evaluations.
R&D Facilities
Shonan Development Center | Kanagawa Pref., Japan |
Technical Cooperation Agreement
(As of Mar. 31, 2011)
Partner | Content | Signed on |
Freudenberg& Co. KG (Germany) |
Introduction and licensing of such seal product as oil seal, O ring and related technologies | Jan. 1, 2009 |
Investment Activities
Capital Expenditure |
(in million JPY) |
FY2010 | FY2009 | FY2008 | |
Overall | 23,480 | 18,232 | 57,463 |
Seal products | 13,159 | 11,666 | 35,118 |
Sealing business
-In Japan, the Company invested mainly in the facilities at its Fukushima Plant that produces oil seals; and outside Japan, mainly in Thai NOK Co., Ltd. and Wuxi Nok-Freudenber Oil Seal Co., Ltd.