Nifco Inc. Business Report FY ended Mar. 2013
Business Highlights
Financial Overview |
(in millions of JPY) |
| FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | Rate of change (%) |
Factors | |
| Overall | ||||
| Sales | 139,916 | 122,880 | 13.9 | - |
| Operating income | 10,549 | 10,240 | 3.0 | - |
| Ordinary income | 10,946 | 10,059 | 8.8 | - |
| Net income | 5,348 | 6,853 | (22.0) | - |
| Composite plastic molded products | ||||
| Sales | 120,946 | 105,407 | 14.7 | 1) |
| Operating income | 12,560 | 12,953 | (3.0) | |
1) Composite plastic molded products
<Sales in the Japanese auto industry>
-Sales during the first half of the year to Japanese OEMs were strong as a result of government-sponsored eco-car sales incentives. In the second half of the year, in addition to the reduction in production volumes after the sales incentives ended, sales in China were also lower and depressed. In spite of all these negative factors, sales surpassed those of the previous year, but only barely.
<Sales in the auto industry outside Japan>
-Sales performance at the Company's subsidiaries outside Japan was higher year-on-year, thanks to higher revenues resulting from increased vehicle sales by Japanese OEM transplants in North America, and higher sales in Asia and Europe.
>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income, etc.)
R&D
R&D Expenditure |
(As of Mar. 31, 2012) |
| FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2011 | |
| Overall | 1,776 | 1,629 | 1,665 |
| -Composite plastic molded products | 1,763 | 1,621 | 1,654 |
R&D Structure
-During fiscal year 2013, the Company completed Nifco Technology Development Centre, its new technological center located in Yokosuka, Kanagawa Prefecture, which already started R&D activities.R&D Activities
Automotive Products-In developing technology that responds to the need for reduced energy use, the Company successfully developed lighter weight products by switching from manufacturing metal parts, to manufacturing plastic parts for compact cars.
-The Company began commercial production of auto parts for electric vehicles (EVs) in Japan and the U.K.
-In developing technology that responds to the need for automotive safety, the Company was successfully developed products that adjust the angle of millimeter wave radar systems and products capable of absorbing impacts (impact-absorbing parts).
Technical Alliance Agreements |
(As of Mar. 31, 2013) |
| Company Name (Location) |
Contract Coverage | Contract Term |
|
Illinois Tool Works Inc. (USA) |
Plastic buckles | Until Aug. 27, 2023 |
Technology Licensing-out Agreement |
(As of Mar. 31, 2013) |
| Company Name (Location) |
Contract Coverage | Contract Term |
| Nifco Taiwan Corporation (Taiwan) |
Manufacturing technologies for plastic buckles and industrial fasteners | Until Dec. 31, 2015 |
| Nifco Korea Inc. (Korea) |
Manufacturing technologies for plastic buckles and industrial fasteners | Until Dec. 31, 2014 |
| Union Nifco Co, Ltd. (Thailand) |
Manufacturing technologies for plastic buckles; and assembling both plastic and metal fasteners | Until Jun. 30, 2017 |
| Nifco Manufacturing (Malaysia) Sdn. Bhd (Malaysia) |
Manufacturing technologies for plastic buckles and fasteners | Until Dec. 31, 2017 |
| Nifco (Hong Kong) Ltd. (Hong Kong) |
Manufacturing technologies for plastic buckles, plastic or metal fastener assembly | Until Dec. 31, 2015 |
| Nifco U.K. Ltd. (UK) |
Manufacturing technologies for industrial plastic parts and assemblies that contain other parts and materials | Until Dec. 31, 2014 |
| Nifco America Corporation (USA) |
Manufacturing technologies for industrial plastic parts and assemblies that contain other parts and materials | Until Dec. 31, 2014 |
| Nifco Products Espana S.L.U. (Spain) |
Manufacturing technologies for buckle/industrial plastic parts and assemblies that contain other parts and materials. Manufacturing technologies for dies for these parts and finished products | Until Dec. 31, 2017 |
| Shanghai Nifco Plastic Manufacturer Co., Ltd. (China) |
Manufacturing technologies for resin and metal parts/finished goods with fastening properties; Products combining resin parts and metal parts; buckles; and manufacturing technology for dies used to manufacture these parts and finished products | Until Dec. 31, 2017 |
| Boosung Industrial Corporation (Korea) |
Manufacturing technologies for buckle/industrial plastic parts and assemblies that contain other parts and materials. Manufacturing technologies for dies for these parts and finished products | Until Dec. 31, 2017 |
| Dongguan Nifco Co., Ltd. (China) |
Manufacturing technologies for resin and metal parts/finished goods with fastening properties; Products combining resin parts and metal parts; buckles; and manufacturing technology for dies used to manufacture these parts and finished products | Until Dec. 31, 2017 |
| Nifco (Thailand) Co., Ltd. (Thailand) |
Manufacturing technologies for buckle/industrial plastic parts and assemblies that contain other parts and materials. Manufacturing technologies for dies for these parts and finished products | Until Dec. 31, 2013 |
| Tifco (Dongguan) Co., Ltd. (China) |
Manufacturing technologies for resin and metal parts/finished goods with fastening properties; Products combining resin parts and metal parts; buckles; and manufacturing technology for dies used to manufacture these parts and finished products | Until Dec. 31, 2016 |
| Beijing Nifco Co., Ltd. (China) |
Manufacturing technologies for resin and metal parts/finished goods with fastening properties; Products combining resin parts and metal parts; buckles; and manufacturing technology for dies used to manufacture these parts and finished products | Until Dec. 31, 2015 |
| Nifco Poland Sp.zo.o. (Poland) |
Manufacturing technologies for industrial plastic parts and assemblies that contain other parts and materials. Manufacturing technologies for dies for these parts and finished products | Until Dec. 31, 2016 |
| Nifco Vietnam Ltd. (Vietnam) |
Manufacturing technologies for industrial plastic parts and assemblies that contain other parts and materials. Manufacturing technologies for dies for these parts and finished products | Until Dec. 31, 2013 |
| Nifco (Tianjin) Co. Ltd. (China) |
Manufacturing technologies for resin and metal parts/finished goods with fastening properties; Products combining resin parts and metal parts; buckles; and manufacturing technology for dies used to manufacture these parts and finished products | Until Dec. 31, 2015 |
| Nifco India Private Ltd. (India) |
Manufacturing technologies for industrial plastic parts and assemblies that contain other parts and materials. Manufacturing technologies for dies for these parts and finished products | Until Dec. 31, 2015 |
| Nifco (Hubei) Co., Ltd. (China) |
Manufacturing technologies for resin and metal parts/finished goods with fastening properties; Products combining resin parts and metal parts; buckles; and manufacturing technology for dies used to manufacture these parts and finished products | Until Dec. 31, 2016 |
| Nifco Korea USA Inc. (USA) |
Manufacturing technology for buckle/industrial plastic parts and assemblies that contain other parts and materials. Manufacturing technologies for dies for these parts and finished products | Until Dec. 31, 2015 |
| Nifco (Jiangsu) Co., Ltd. (China) |
Manufacturing technologies for resin and metal parts/finished goods with fastening properties; Products combining resin parts and metal parts; buckles; and manufacturing technology for dies used to manufacture these parts and finished products | Until Dec. 31, 2015 |
| Nifco South India Manufacturing Private Ltd. (India) |
Manufacturing technology for buckle/industrial plastic parts and assemblies that contain other parts and materials. Manufacturing technologies for dies for these parts and finished products | Until Dec. 31, 2017 |
| Nifco (Yancheng) Co., Ltd. (China) |
Manufacturing technologies for resin and metal parts/finished goods with fastening properties; Products combining resin parts and metal parts; buckles; and manufacturing technology for dies used to manufacture these parts and finished products | Until Dec. 31, 2016 |
| PT. Nifco Indonesia (Indonesia) |
Manufacturing technology for buckle/industrial plastic parts and assemblies that contain other parts and materials. Manufacturing technologies for dies for these parts and finished products | Until Dec. 31, 2017 |
Investment Activities
Capital Expenditure |
(in millions of JPY) |
| FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2011 | |
| Overall | 18,521 | 17,056 | 9,661 |
Composite plastic molded products
<Japan>
-The Company spent 5,453 million yen. As part of the Company's efforts to enhance its R&D capabilities, it invested to construct its Nifco Technology Development Centre, install facilities to manufacture dies in response to new orders won from Japanese OEMs, and install facilities to produce fuel-system products.
<USA>
-Nifco America Corporation invested 1,674 million yen in facilities and equipment to produce fuel-system products; and in forming equipment.
<Asia>
-The Company invested 1,137 million yen mainly to construct a new plant building in India at Nifco South India Manufacturing Private Ltd.; 1039 million yen in China at Nifco (HK) Ltd. and other subsidiaries in China; and 5,993 million yen in total in Asia.
Planned Capital Investments (Composite plastic molded products) |
(As of Mar. 31, 2013) |
| Company/ Facility (Location) |
Targeted Investment |
Investment Amount (in million JPY) |
From | To |
| Nifco Korea Inc. (Asia, Korea) |
Buildings and structures | 2,618 |
Oct. 2012 |
Nov. 2013 |
| machinery, equipment and vehicles | 436 | |||
| Land | 1,973 |