Financial Overview

(in millions of JPY)

	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012	Rate of Change (%)	Factors
Sales	146,348	122,478	19.5	1)
Operating income	3,333	6,290	(47.0)	-
Ordinary income	3,996	6,012	(33.5)	-
Net income	1,358	4,221	(67.8)	-

Factors
1) Sales
<Japan>
-Sales decreased 7.8% year-on-year due the drop in sales of Japanese-brand vehicles in China, even though in Japan vehicle sales were on the road to recovery.

<North America>
-Sales rose 50.6% year-on-year due to the strong economy in the U.S.A. in general, in addition to its major OEM customers launching new-model vehicles.

<Europe>
-Sales increased 31.7% year-on-year due to strong vehicle sales by major OEM customers.

<Asia>
-Sales in Asia increased 31.0% year-on-year due the higher volume of vehicle sales at its major customers in China and the ASEAN Region.

Acquisitions

<UK>
-The Company will acquire a whole stake in R-TEK Limited, a fifty-fifty joint venture subsidiary headquartered in Tyne & Wear, the U.K., which is engaged in manufacture and sales of automobile interior components. The joint venture partner Reydel Ltd., which is currently Visteon Corporation and owns fifty percent of shares in R-TEK, has offered to sell the stocks it holds. The deal is expected to be completed by the end of Aug. 2012. The Company expects the fully-owned subsidiary will contribute to enhancing its foothold in the U.K. in supporting growth strategy of automakers and an increase in their automobile production in the European market. (From an article in the Nikkan Jidosha Shimbun on July 27, 2012)

Joint Ventures

<Japan>
-The Company and Grupo Antolin-Irausa, S.A. announced that they will establish a 50-50 joint venture, Antolin Kasai International Co., Ltd., at the headquarters of the Company, based in Kanagawa Prefecture, Japan. Capitalized at 9 million yen (approximately 73,000 euros), the new company will be engaged in the field of sales and manufacturing support of automotive interior components, primarily for Nissan Motor Company. (From a press release on March 8, 2013)

<India>
-The Company announced that it has held an opening ceremony for a new Indian joint venture with Grupo Antolin-Irausa, S.A., ANTOLIN KASAI TEK Chennai Private Limited. The 50-50 joint venture is capitalized at 7 million rupees (approximately 1.2 billion yen) and is engaged in manufacturing and selling of automotive interior components, primarily for Renault-Nissan. Sales are expected to reach 659 million rupees (approximately 1.13 billion yen) in fiscal year 2014. (From a press release on March 8, 2013)

<Malaysia>
-The Company said that it has agreed with Teck See Plastic Sdn, Bhd. (TSP), local supplier in Malaysia, to establish a joint venture Kasai Teck See (Malaysia) Sdn, Bhd. and signed a contract for supply of interior parts primarily to local plants of Japanese automakers. The Company already established a joint venture with TSP in Thailand in 2007, and also invested in the production plant in Indonesia under the umbrella of TSP. Given an increasing production in the future by Japanese automakers in Malaysia, the Company has decided to form a new joint venture. The existing plants and equipment owned by TSP will be separated and used for the new company, which will be owned 75 percent by TSP and 25 percent by the Company. TSP is engaged in manufacture and sales of auto parts in Malaysia and invested almost 60 percent by the Oriental Holding Group (Malaysia). (From an article in the Nikkan Jidosha Shimbun on April 28, 2012)

Mid-term Management Plan

-The Company has developed "Action 210," its mid-term management plan from FY ended Mar. 2013 through FY ending Mar. 2015. Compared to FY ended Mar. 2012 results, it aims to boost sales to 160 billion yen in FY ending Mar. 2015 from 122.4 billion yen and operating profit ratio to 8% in FY ending Mar. 2015 from 5.1%. It will raise sales in emerging countries including China, Southeast Asia and Mexico, while further improving business operation efficiency. In the new mid-term plan, the Company aims to increase sales overseas, double the business operation efficiency and achieve the targets of sales and operating profit ratio without fail. Concerning the regional sales ratio in FY ending Mar. 2015, sales in Japan is expected to fall to 33% from 47.7% of FY ended Mar. 2012 because it plans to expand overseas sales. The sales ratio of China and Southeast Asia are projected to rise to 17% from 9.6%, while sales of North and South Americas to 44% from 35.2%. The ratio of Europe is likely to decline to 6% from 7.5%. In order to increase sales in the Americas, the Company plans to boost production in Mexico. (From an article in the Nikkan Jidosha Shimbun on May 28, 2012)

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

Outlook for FY ending Mar. 31, 2014

(in million JPY)

	FY ending Mar. 31, 2014 (Forecast)	FY ended Mar. 31, 2013 (Actual Results)	Rate of Change (%)
Sales	160,000	146,348	9.3
Operating income	6,000	3,333	80.0
Ordinary income	6,000	3,996	50.2
Net income	3,000	1,358	120.9

R&D Expenditure

(in millions of JPY)

	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011
Overall	824	879	570

-During this fiscal year, the Company is spending its entire budget allocated for R&D, in Japan.

R&D Structure

-The Company's R&D activities are mainly conducted at the Advanced Product and Production Method Development Division.
-The Company plans to establish a North American Technical Center and a China Technical Center in order to respond to its customers' localizing their customer development during FY ending Mar. 2014.

R&D Activities

Weight Reduction
-Weight reduction is the main focus of R&D activities on doors, pillars, ceilings, and trunk-trim. In addition, the Company is working to achieve an optimum balance between products that are lower in cost but still offer the highest levels of quality and weight reduction.

Safety
-Based on a proprietary structural design, the Company has succeeded in injection-molding impact-absorbing products that offer greater safety to vehicle occupants during lateral collisions. These products, which are lower in price compared to conventional products, still offer a high level of performance. The Company is delivering these to OEMs for mounting on mass-marketed vehicle models.

Environmental protection
-The Company is working to reduce and/or eliminate VOC (volatile organic compounds) in materials, as well as changing to alternative production methods. It is changing to water-soluble adhesives and hot-melting processes; as well as mixing coloring agents directly into plastics instead of relying on paint.

-The Company is working to find alternatives for plastics, by using plant-based resins (polylactic acid); and alternatives to vinyl chloride materials, changing to TPO (thermoplastic elastomer olefin) and TPU (thermoplastic elastomer urethane).

Cabin-interior comfort
-Working under the aim of further improving soundproofing, the Company is developing high-performance products by making use of acoustic theory and CAE, conducting experiments on materials by utilizing reverberation rooms and actual vehicles that use four-wheel drive chassis dynamos.

-The Company is working to make products for cabin ceilings that have even further improved insulating properties, as it strives to achieve a more comfortable temperature in the cabin-interior.

Appeal and convenience
-The Company is designing products for cabin-interiors, such as decorative trim for door coverings and ornamentation for door-waists, making these types of trim more stylish, more pleasant to the touch by using innovative surface treatments, and giving them a more solid feel. In addition, the Company is working on developing pillars and trunks that use plastics that make scratches less noticeable.

Capital Expenditure

(in millions of JPY)

	FY ended Mar. 31, 2013	FY ended Mar. 31, 2012	FY ended Mar. 31, 2011
Japan	3,121	2,697	-
North America	6,843	1,942	-
Europe	647	291	-
Asia	1,820	1,166	-
Total	12,433	6,097	4,463

Investments in Japan

Installing Automated Assembly Line
-The Company is going to construct an automatic production line to assemble door trims at Nissan Motor's Tochigi Plant as early as next year. All assembly procedures, including welding and fastening will be fully automated through use of robots, while trims for all four doors can be processed on a single line equipped with an automatic die changing function. After establishing this new system at its domestic operations, the Company is going to introduce it into other advanced markets such as the U.S. and the U.K. The automatic production system is expected to reduce labor costs, while improving production efficiency and product quality. (From an article in the Nikkan Jidosha Shimbun on Dec. 26, 2012)

Investments Outside Japan

<Mexico>
-The Company announced that Kasai Mexicana S.A. de S.V., its production subsidiary in Mexico, will construct its second plant to meet the needs of its customers and the expected growth in future demand. The new facility will be established adjacent to the company's headquarters in Leon, Guanajuato, having a building area of 13,565 square meters. It will mass-produce automotive interior products, starting in January 2014. Sales are expected to reach approximately 3 billion yen in 2015 with a workforce of 300. The Company is investing 34.60 million dollars (approximately 2.7 billion yen) in this project. (From an article in the Nikkan Jidosha Shimbun on Sep. 26, 2012)

Planned Capital Investment

(As of Mar. 31, 2013)

Company name Site name	Type of facility	Planned investment (in million JPY)	Start	Planned completion
Headquarters Plant (Kanagawa Pref., Japan)	Facilities to assemble automotive interior parts, dies, tools, and other items	4,217	Apr. 2013	Mar. 2014
Mie Kasai Co., Ltd. (Mie Pref., Japan)	Facilities to assemble automotive interior parts, tools and other items	304	Apr. 2013	Mar. 2014
Gunma Kasai Co., Ltd. (Gunma Pref., Japan)	Facilities to assemble automotive interior parts, tools and other items	322	Apr. 2013	Mar. 2014
Kyushu Kasai Co., Ltd. (Oita Pref., Japan)	Facilities to assemble automotive interior parts, tools and other items	92	Apr. 2013	Mar. 2014
M-TEK Inc. (Tennessee, USA)	Facilities to assemble automotive interior parts, tools and other items	1,522	Apr. 2013	Mar. 2014
Kasai Mexicana S.A. de C. V. (Guanajuato, Mexico)	Facilities to assemble automotive interior parts, tools and other items	1,086	Apr. 2013	Mar. 2014
R-TEK Ltd. (Tyne and Wear, UK)	Facilities to assemble automotive interior parts, tools and other items	89	Apr. 2013	Mar. 2014
Guangzhou Kasai Automotive Interior Trim Parts Co., Ltd. (Guangzhou, China)	Facilities to assemble automotive interior parts, tools and other items	811	Apr. 2013	Mar. 2014
PT. Oriental Manufacturing Indonesia (West Java, Indonesia)	Land for production plants; plant buildings;facilities to assemble automotive interior parts, dies, tools, and other items	509	Apr. 2013	Mar. 2014