Denso Corporation Business Report FY ended Mar. 2013

Business Highlights

Financial Overview

(in 100 million JPY)
  FY ended Mar. 31, 2013 FY ended Mar. 31, 2012 Rate of Change
(%)
Factors
Overall
Sales 35,809 31,546 13.5 -Vehicle production volumes increased in North America and Asia/Oceania.
-Vehicle production volumes recovered in Japan.
Operating income 2,623 1,607 63.2 -Profits due to higher operating levels and rationalization initiatives resulted from greater operating revenue.
Ordinary Income 2,960 1,807 63.8 -
Net Income 1,816 892 103.6 -
Japan
Sales 18,088 16,399 10.3 -Sales recovered from lower production levels that were caused by the Great East Japan Earthquake.
-Exports grew as a result of greater production volumes in North America and Asia/Oceania.
Operating income 1,706 838 103.6 -Income grew due to higher operating levels and favorable currency translation resulting from the low evaluation of the yen.
North America
Sales 6,249 5,040 24.0 -Sales to the Detroit Big 3 US OEMs and to Japanese OEMs increased.
Operating income 134 87 54.0 -Income grew due to profits generated by higher operating levels.
Europe
Sales 3,487 3,732 (6.6) -Sales decreased due to the market stagnation in Europe because of the debt crisis there.
Operating income 39 63 (38.1) -Income dropped due to profits generated by lower operating levels.
Asia/Oceania
Sales 7,345 5,797 26.7 -Sales increased due to higher revenue stemming from the recovery in auto production at Japanese OEMs.
Operating income 736 594 23.9 -Income grew due to profits generated by higher operating levels.

New Company

<Poland>
-The Company announced that it will establish a manufacturing subsidiary Denso Poland Sp.zo.o in Myslowice, Poland, in April, 2013. The new company will produce instrument clusters at a rented plant, starting in August 2013. These products will be supplied for the Hyundai "i30" compact vehicle produced in the Czech Republic. For Denso, the new facility will be the third plant in Poland and the first to produce instrument clusters in the country. The Company expects sales at the new company will reach 3 billion yen a year by fiscal year 2015. (From an article in the Nikkan Jidosha Shimbun on Mar. 29, 2013)

<Japan>
-The Company announced that a plant in Iwate Prefecture that the Company had acquired from Fujitsu Semiconductor Ltd. started its operations as a new company "Denso Iwate". The new facility purchased to expand production capacity of semiconductor wafers is Denso's third plant for in-vehicle semiconductors. It will supply products to existing customers for the time being, but it will gradually be placed under Denso's production control and supply system. Supply of products for Denso is expected to begin in 2014. In 2017, all products will be delivered to Denso. According to the Company, the plant acquisition will expand its production capacity by 50 percent compared with the current level. (From an article in the Nikkan Jidosha Shimbun on Oct. 2, 2012)

Business Plan

Increasing local procurement rates
-In working to lower procurement costs for parts and materials, the Company is speeding up localizing procurement activities worldwide.
  • To achieve the Company's "act30" business plan with a target to cut its purchasing cost by about 30 percent by fiscal year 2015, the Company is poised to make further efforts to increase its local content ratio from 60 percent or more to 80 percent worldwide.
  • The Company has launched the "Global Sourcing" project to compare and select various suppliers on the equal basis throughout the world at the start of manufacturing new products. An executive at the Company says, "While each of our business units used to plan its own procurement strategies centralized in Japan, we will now develop new sourcing strategies on the global basis under the new project". (From an article in the Nikkan Jidosha Shimbun on Dec. 14, 2012)
Improving its production operations in Japan
-In order to ensure that it can sustain its production volumes in Japan, the Company set forth the following management policies aimed at strengthening its operating structure by FY2015.
  • The Company will set up exemplary model production-lines based on concentrating its production activities in the Chubu Region, with nine factories. It will install new facilities and equipment that enable both the scale and the investment costs to be significantly reduced, working to develop innovative production methods.
  • The Company aims to more than double its productivity levels by improving manufacturing control and delivery systems. It is also enhancing its personnel system to develop and manage human resources for flexible placement within the organization.
  • The Company started building a new production facility during fiscal year 2012 in Tohoku, a region that its major customer Toyota Motor has strengthened and positioned as its third production hub. It will produce parts for heat-exchangers, in addition to diversifying all the production of products concentrated in the Chubu Region. 
Intending to capture one third of the global head-up display market
-The Company announced on that it is intending to capture one third of the global head-up display market by fiscal year 2020. The head-up display shows warnings, such as traffic information and the existence of pedestrians, on the windshield. The driver can be informed of these situations without looking away from the road. The Company began to manufacture and sell head-up displays in 1991, and has made deliveries to Toyota and Kia Motors of Korea. The Company currently has around a 15 percent share of the head-up display market, which is expected to grow by tenfold to 10 million units annually by fiscal year 2020. To obtain new contracts, the Company is looking to introduce newly developed systems to the market promptly. The Company is going to launch a next-generation 10-inch head-up display by fiscal year 2015, which will be followed by introduction of a 30-inch ultra-large product as early as fiscal year 2018. (From an article in the Nikkan Jidosha Shimbun on Dec. 13, 2012)

Restructuring

Car air conditioning business in the UK
-The Company announced restructuring of its car air conditioning business in the UK. DENSO Manufacturing UK Limited (DMUK), a DENSO subsidiary in the UK, has purchased all the shares of an air conditioner components manufacturer, Shimizu Industry UK Limited (SI-UK) as of January 31, 2013. The Company is looking to restructure its business operations further in its medium- to long-term strategies. (From an article in the Nikkan Jidosha Shimbun on Feb. 8, 2013)

Dissolution of capital alliance with Robert Bosch
-In 2012, Robert Bosch sold its entire 46 million shares, roughly 5 percent of all Denso shares, it had in the Company. Robert Bosch, which had held a stake in the Company since the mid 1950’s, sold all the shares it had in the Company and dissolved their long-term relationship built on a capital-holdings arrangement. Two companies, besides continuing to work together based on the existing partnership arrangement, are searching other areas in which they can form a partnership and respond the needs of the global auto industry.

Major Contracts

Parts Maker Model
Inverters (double-sided cooling type) Toyota Crown Hybrid
Next-generation common-rail technology (i-ART) Toyota Hilux (Brazil)
Gasoline direct injector, high pressure pump, common rail system Mazda Models equipped with SKYACTIV technology
Cold storage evaporator Suzuki Wagon R
Sensors for pre-collision safety systems incorporating a collision-avoidance assistance function Toyota Lexus LS
Pedestrian collision detection sensor for the pop-up hood Toyota Crown Hybrid
Laser radar for smart-assist systems Daihatsu Move
Millimeter-wave radar Mazda Atenza
Imaging sensor Toyota Lexus ES
Global Inner-fin Condenser Toyota Corolla
Global Standard Radiator Toyota 86
HVAC unit Nissan (Brazil) Small-sized vehicle based on the V platform

Outlook for FY ending Mar. 31, 2014

(in 100 million JPY)
  FY ending Mar. 31, 2014
(Forecast)
FY ended Mar. 31, 2013
(Actual Results)
Rate of change
(%)
Sales 38,000 35,809 6.1
Operating income 2,850 2,623 8.7
Ordinary income 3,030 2,960 2.4
Net income 1,940 1,816 6.8

-As the end of the 2013 fiscal year, ending March 2014, the Company forecasts that the operating revenue in all regions will increase, and that operating revenue in Europe will grow 23.6% year-on-year.
-Operating income for the 2013 fiscal year is forecast to increase 117.4% in Europe, while decrease in North America and Asia/Oceania.

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

2015 Mid-term Management Plan (FY ending Mar. 31, 2016)

(in 100 million JPY)
  FY ending Mar. 31, 2016
(Forecast)
FY ended Mar. 31, 2013
(Actual Results)
FY ended Mar. 31, 2012
(Actual Results)
Sales 40,000 35,809 31,546
Operating income 3,200 2,623 1,607
Operating margin 8.0% 7.3% 5.1%

R&D

R&D Expenditure

(in 100 million JPY)
  FY ended Mar. 31, 2013 FY ended Mar. 31, 2012 FY ended Mar. 31, 2011
Japan 2,943 2,638 2,567
North America 135 124 133
Europe 78 79 73
Asia/Oceania 190 129 117
Other 6 12 9
Total 3,354 2,983 2,900

-Out of the total R&D expenses the Company incurred during the fiscal year that ended March 2013, R&D expenses outside Japan accounted for around 12%. In line with the Company's reorganization of its R&D framework, this percentage is anticipated to increase in the future.

-For the fiscal year ending March 2014, the Company plans to increase its R&D expenses by 4.4% year-on-year, to 350 billion yen.

R&D Structure

-As a means to quickly grasp customer needs in each region and respond to those needs with new product developments, the Company is strengthening its R&D capabilities in China, India and Brazil, as well as in the U.S.A, Europe, and Oceania/Asia. In doing this, the Company will build an R&D framework based on seven technical centers, including the one in Japan. This will promote closer collaboration among them.

Region Core technical center Satellites
Japan Aichi Pref., Japan Group companies in Japan; Korea
North America Michigan, USA Tennessee, USA, California, USA
Europe Aachen, Germany UK, Italy, Czech Republic, Sweden
Asia/Oceania Bangkok, Thailand Vietnam, the Philippines, Australia and other
China Shanghai, China North China, Xian, South China, Taiwan
India Delhi, India -
South America Santa Barbara, Brazil -

<Japan>
Consolidating evaluation activities for power electronic products at Anjo
-The Company announced that it would build a new evaluation facility on the site of its Anjo Plant in Aichi Prefecture around April 2014 for the development of its power electronics products. In response to the electrification of vehicles and auxiliary machineries involving electric powered assist systems, the Company will perform an endurance test of hybrid vehicle parts of inverters and motor stators, alternator and starters at this new site. The Company intends to speed up the product test to increase development efficiency. About 11.5 billion yen will be invested in the facility and evaluation equipment. Construction of the building is scheduled to begin on March 1, and to be completed by late November, which will become operational in April 2014. Testing of the power electronics products has been so far conducted at Anjo Plant and Denso headquarters in Aichi Prefecture but to make operations more efficient, the Company will consolidate most of the relevant work to Anjo Plant. (From an article in the Nikkan Jidosha Shimbun on Mar. 1, 2013)

<India>
Increasing facilities and R&D staff at Indian plant
-In March 2012, the Company established its Indian Technical Center on the premises of Denso International India, located in Gurgaon, Haryana, India, investing approximately 2.25 billion yen in evaluation facilities and equipment. The Center will conduct experiments on engine benches, chassis dynamometers, and other products. In addition, the Company will double the current number of R&D staff to 120 by FY2015.

<Brazil>
First technical center in South America
-In 2012, the Company established its technical center in Brazil which commenced its operation in July 2012. It is the Company's only facility in South America that is equipped with wind-tunnel testing and other advanced development devices. (From an article in the Nikkan Jidosha Shimbun on July 19, 2012)

<China>
Relocate and expand its development facilities in China
-The Company announced that it will relocate and expand its development facilities in China by 2013. The Company will construct its own development facilities in Shanghai, introduce large scale evaluation equipment like a wind tunnel and increase the number of staff by around three times to 500 by 2015. The Company is planning to put the revamped technical center into operation in June 2013 with an investment of around 7.2 billion yen. The Company has so far responded to local development needs by Japanese automakers at leased buildings on leased land in Shanghai. From the new location it is aiming to provide extended service to Japanese car manufacturers as well as to support local automakers that are aspiring to be self-supportive in development activities. (From an article in the Nikkan Jidosha Shimbun on April 11, 2012)

R&D Activities

Field tests of a traffic control system using vehicle-to-infrastructure communication system
-The Company announced that it will conduct field tests of a traffic control system using vehicle-to-infrastructure communication system in Taicang, Jiangsu Province, China from March 23 to March 27, 2013. The public road testing will be performed in collaboration with Tongji University. Through communication between public buses and roadside infrastructure, the traffic control system informs the driver of an optimal driving speed or an appropriate time to leave a bus stop so that the bus will be able to pass through traffic sections without stopping at a traffic light. The Company expects the experiments will advance researches on vehicle communication systems that can help improve the traffic flow of public buses, enhance fuel efficiency and reduce CO2 emissions. (From an article in the Nikkan Jidosha Shimbun on Mar. 23, 2013)

Product Development

<Powertrain>
Lithium-ion battery pack >>>Product image
-The Company has developed a lithium-ion battery pack that can store regenerated energy from a vehicle equipped with the stop/start system for supplying to the auxiliary power demand. This battery pack capable of storing energy that has been so far left unused and supplying it to electrical and electronic devices such as the car navigation system. This also helps reduce the power generation by the alternator. The new technology contributes to improving fuel efficiency by 2 percent. The Suzuki's new "Wagon R" released in September is the industry's first minivehicle model that has been equipped with this technology. (From an article in the Nikkan Jidosha Shimbun on Oct. 5, 2012) 

<Climate Control>
Cold-storage evaporator  >>>Product image
-The Company has developed a cold-storage evaporator that makes it possible to keep the cabin interiors of vehicles cool, even when the vehicles are in the idling-stop mode using the automatic engine stop/start system. This was achieved by employing a proprietary structural design in which the board-shaped case filled with cold-storage material is placed between refrigerant tubes. The Company successfully developed this system that blows chilled air and quickly cools the cabin interior in a short amount of time. The product advantages are outlined below.
  • Ensuring interior comfort
  • Resolving the issue of idling stop systems' tendency to quickly restart during high temperatures.
  • Enhance valued-added features to evaporators, while still keeping them the same size.
Smaller and more efficient condenser "Global Inner-fin Condenser" >>>Product image
-The Company has developed a Global Inner-fin Condenser (GIC), which is smaller and more efficient than conventional products. It decreased the width of the product from 16 mm to 11mm, achieving a 30 percent reduction in size.
  • Tube: The Company reduced the size of the tube's inner fins, while maximizing the density of the inner fins inside each tube in order to transfer the refrigerant's heat flowing in the tubes more efficiently. These improvements led to a 20 percent expansion in the heat transfer area.
  • Inner fin tube: The Company increased the capacity of the inner fin tube by 25 percent, enabling a larger amount of refrigerant to flow in the tube without increasing power consumption.
  • Fin: The Company increased the number of louvers in each fin by 30 percent per unit area to improve heat removal process. Despite this increase in louvers, the size of the fin was not increased.
Car air conditioning system capable of controlling the driver's area only >>>Product image
-The Company has developed the world's first air conditioner system that is capable of controlling only the driver zone in the cabin. The new system is divided into five internal structures that are connected to five air outlets in the cabin, which allows the air conditioner to be separately controlled by switching on and off at each of the three cabin zones for the driver, front passenger and rear passengers. Conventional air conditioners can control temperatures and air flow for each seat section, but they cannot be switched on and off separately. When only the driver-side air conditioner is on, this system can save energy consumption by about 20 percent compared with the conventional system.

Refrigerator system for light-duty hybrid trucks
-The Company has developed a refrigerator system for light-duty hybrid trucks. The product helps improve fuel efficiency while maintaining low-level freezer/refrigerator temperatures when the vehicle is idling at a stop light or in other traffic situations. In addition to using a conventional compressor driven by the engine via a belt, the new system also adopts an electric compressor powered by the battery unit of the hybrid vehicle. These two compressors are designed to automatically switch from one to the other according to the operational status:
  • Engine running: Conventional compressor
  • Engine stopped: Electric compressor
  • Refrigerator system connected to an external power source: Built-in electric compressor is used. This eliminates use of a motor or motor-driven compressor, making the refrigerator unit considerably smaller and 25 percent lighter compared to a conventional system.
<Body>
Thin-film transistor (TFT) liquid crystal display (LCD) head-up display (HUD) >>>Product image
-The Company has developed a thin-film transistor (TFT) liquid crystal display (LCD) head-up display (HUD) to inform drivers of important road information such as presence of pedestrians ahead. The HUD technology is designed to project information onto the windshield, which will enable drivers to obtain critical data without taking their eyes off the road. The HUD system is embedded in the dashboard behind the steering wheel. The mirror equipped on the LCD panel reflects the image on the windshield. The Company has been producing and selling HUDs since 1991, but the new technology is the world's first of its kind that can provide information overlaid on the actual scenery in front. The Company is planning to introduce the advanced HUD system to the market by supplying them to automakers around 2015. (From an article in the Nikkan Jidosha Shimbun on Oct. 20, 2012)

<Driving Safety>
Pedestrian collision detection sensor for the pop-up hood >>>Product image
-The Company has developed a pedestrian collision detection sensor for the pop-up hood. In conventional pop-up hood systems developed by its competitors, acceleration sensors are usually installed along the bumper. However, the Company uses sensors consisting of pressure sensors and a hollow polyethylene housing so as to increase detection accuracy. The Company began supplying the new product to be featured on the Toyota "Crown Hybrid" that debuted in Japan in January. The Company intends to target 20% market share worldwide with the new sensor by 2020. (From an article in the Nikkan Jidosha Shimbun on Feb. 16, 2013)

New millimeter-wave radar
-The Company has developed a new millimeter-wave radar that has a longer and wider detection range. The new radar's detection distance is 205 meters, as compared with 151 meters offered by conventional products. Its detection angle has also been widened from±10 degrees in the previous system to ±18 degrees within a distance of 35 meters from the vehicle. The high performance radar system uses a resin antenna instead of a conventional metal antenna, while being composed of fewer components due to integration. This resulted in a significant cost saving as well. The-fourth generation millimeter radar produced at the Company's Dian Plant in Mie Prefecture, Japan. (From an article in the Nikkan Jidosha Shimbun on Nov. 22, 2012)

New vision sensor that is the smallest of its kind in the world
-The Company has developed a new vision sensor that is the smallest of its kind in the world for lane departure warning and automatic high beam control applications. The new vision sensor, which is about 50 percent smaller than the Company's previous product, has been selected as factory option for installation in the Toyota "Lexus ES" slated to go on sale globally, starting in China in July. The Company is expecting to make the new sensor available for a number of vehicle models. (From an article in the Nikkan Jidosha Shimbun on July 26, 2012) 

<Other>
In-vehicle wireless charger for smart phones
-The Company has developed the world's first in-vehicle wireless charger for smartphones. The new charger will be initially released in North America in the spring of 2013 as optional equipment on the Toyota "Avalon Limited". Smart phones supporting the Qi technology (wireless charging standard for mobile devices) can be recharged when placed on a charging pad. Smartphones without the Qi system can also be recharged by use of a special cover compatible with the Qi standard. (From an article in the Nikkan Jidosha Shimbun on Jan. 23, 2013)

Vehicle-to-home (V2H) power supply system for electric vehicles
-The Company has developed a vehicle-to-home (V2H) power supply system for electric vehicles (EV), which is designed to work in coordination with home energy management system (HEMS) with storage battery to supply electricity from home to an EV, as well as from an EV to home. The development follows the Company's achievement in engineering and conducting demonstration tests for its V2H power supply system for hybrid vehicles (HVs). These systems can efficiently distribute electricity, contributing to cutting down on power consumption at home. Because quick chargers for EVs use a substantial amount of power in a short time, consumers normally had to change their electricity contract to a higher rate when installing the system. The new V2H system, however, can quickly charge an EV using the electricity stored in the HEMS battery, which eliminates the need for a contract modification or any other complicated procedures. (From an article in the Nikkan Jidosha Shimbun on July 25, 2012)

Investment Activities

Capital Expenditure

(in 100 million JPY)
  FY ended Mar. 31, 2013 FY ended Mar. 31, 2012 FY ended Mar. 31, 2011
Japan 1,243 1,030 954
North America 204 121 90
Europe 191 186 121
Asia/Oceania 625 382 228
Other 40 72 55
Total 2,305 1,793 1,450

-The Company invested in predominantly in R&D facilities in order to respond to production increases, prepare for next-generation products, be able to switch over to new products, and develop new products.

Investments Outside Japan

Americas
<North America>
-The Company announced at the Detroit auto show that it will invest 1 billion US dollars (approximately 89 billion yen) in its North American operation by fiscal 2015 ending Mar. 31, 2016. Due to recovering demand in the North American auto market, the Company will boost its local production capacity for powertrain related components. The Company is also considering producing hybrid vehicle components locally, which are currently imported from Japan. The Company plans to increase the number of its local workers in the region from 14,000 to 16,000 in line with the capacity expansion. (From an article in the Nikkan Jidosha Shimbun on Jan. 18, 2013)

<Mexico>
-The Company has decided to invest by March 2015 an additional 3 billion yen in its new plant in Mexico, which is scheduled to start operations in October 2013. The purpose of this investment project is to extend the product lineup at the new plant, which was expected to engage in car air conditioning systems initially. Having already received alternator programs from European and U.S. automakers' facilities in the country, the Company has resolved to expand the new facility as early as possible. Production of alternators is scheduled to begin in October 2014. (From an article in the Nikkan Jidosha Shimbun on Dec. 27, 2012)

<Brazil>
-The Company is embarking on production of automobile electronic control units (ECU) in Brazil starting this September. Denso Industrial Da Amazonia Ltda., its Brazilian manufacturing subsidiary based in Manaus, Amazonas, will add a new production line dedicated to ECUs for engine control at a cost of 400 million yen (approximately USD 5.12 million). The Company will locally produce the devices that have hitherto been supplied from Japan and the U.S. in a bid to make them competitive in the Brazilian market. They will be supplied first to Toyota for its "Etios" compact slated to be assembled starting in September. The Company will hereafter offer a wider variety of ECU with the aim of expanding sales to other automakers. (From an article in the Nikkan Jidosha Shimbun on August 13, 2012)

-The Company set up a new plant in Sao Paolo, Brazil in fiscal year 2012, which was constructed as Building 2 on the premises of Denso do Brasil Ltda., the Company's local production facility. Although the new plant began producing automotive air-conditioners and cooling modules in January 2011, the building is to be completely finished by the beginning of July this year. It will launch production of starters, wipers, and other products in September.

Asia
<Indonesia>
-The Company announced that PT. Denso Indonesia will establish its third plant in 2014. The new facility will be located in Bekasi District, West Java Province. The Company is investing approximately 9.4 billion yen in the new plant to produce engine control products, including engine ECUs, variable cam timing (VCT) control systems, starters and alternators. While Denso Indonesia's existing facilities have been engaged in production of climate control and heat-exchange devices, the new plant will expand the Company's product lineup in the growing Indonesian market where the Company is accelerating its localization efforts. Sales at PT. Denso Indonesia are expected to increase to 100 billion yen by fiscal year 2020, up 140 percent from the current level. Construction of the new plant with a land area of 200,000 square meters and a building area of 24,000 square meters will start in December this year and is expected to be completed by November 2013. The Company is planning to hire approximately 1,300 employees by March 2016. (From an article in the Nikkan Jidosha Shimbun on Sep. 12, 2012)

<Thailand>
-The Company is going to increase its production capacity in Thailand by the end of March 2014. It will construct an additional plant building at two of its three production bases of Denso (Thailand) Co., Ltd. One will be added to the Wellgrow Plant in Chachoengsao, and the other to the Bangpakong Plant in Chonburi in the eastern region. The Company is going to invest approximately 2 billion yen in the plant construction alone and spend more on manufacturing equipment, aiming to increase production of a wide variety of products, including radiators, alternators, and starters. Having already completed expansion at the Wellgrow facility in July, the Company plans to finish construction at the Bangpakong Plant by the end of 2013. In Thailand, Toyota is going to establish a new plant by 2013, while resuming production at its idled facilities. Through these measures, the automaker is going to raise its yearly production capacity in the country to 760,000 vehicles. Since other automakers are also stepping up production in the country, the Company will boost output of various components. In an effort to meet the needs of its customers that are vying to increase their product competitiveness, Denso Thailand will launch local production of next generation products as well. (From an article in the Nikkan Jidosha Shimbun on August 27, 2012)

<India>
-The Company announced that Denso Haryana Pvt. Ltd., its wholly owned subsidiary in India, will establish its second plant in the northern region of India around 2013. The new facility will produce small motors for windshield wipers as well as engine cooling modules. Construction will begin later this month with production launch scheduled to take place in July 2013. The Company is investing approximately 4.2 billion yen in this project to supply its products to Maruti Suzuki, Tata Motors and other automakers operating in the northern region. The plant will have 12,000 square meters of building area on about 73,000 square meters of land in Jhajjar, Haryana. Denso Haryana is going to employ additional 450 people for the new operations. (From an article in the Nikkan Jidosha Shimbun on May 8, 2012)    

Capital Expenditure for FY ending Mar. 31, 2014

(in 100 million JPY)
  FY ending Mar. 31, 2014
(Forecast)
FY ended Mar. 31, 2013
(Actual Results)
Rate of change
(%)
Japan 1,300 1,243 4.6
North America 320 204 56.9
Europe 210 191 9.9
Asia/Oceania 700 625 12.0
Other 70 40 75.0
Total 2,600 2,305 12.8