TS Tech Co., Ltd. Business Report FY2010
|(in millions of JPY)|
|FY2010||FY2009||Rate of Change(%)||Factors|
-Sales were up 8.5% year-on-year, to 119,624 million yen as a result of the Company revamping its product line up and increasing the sales volumes of the products it supplied in Japan, in spite of lower volume of orders from its main customers because of production stoppages caused by the Great East Japan Earthquake and because of lower demand that followed the end to new-car sales incentives.
-Even though the Company was faced with negative currency translation, sales increased 5.7% year-on-year, to 139,648 million yen, because of a greater volume of orders from its main customers,.
- Even though the Company was faced with negative currency translation, sales increased 15.2% year-on-year, to 77, 199 million yen, because of a greater volume of orders from its main customers.
- Sales increased 49.2% year-on-year, to 48,259 million yen, because of a greater volume of orders from its main customers in Asia, especially in Thailand; and because its subsidiary in the U.K., which had been idle, returned to operating for the entire year.
-Started producing seats for the Honda Fit Hybrid.
-Started producing seats designed for the North American version of the new Honda Odyssey.
-Starting producing seats and door trim for the Honda Accord Crosstour.
-The Company and Imasen Electric Industrial Co., Ltd. announced on October 29 that the two companies will strengthen ties in the area of automotive seat business by acquiring equity shares of each company. With this move, they intend to increase efficiency in developing and producing vehicle seat products. The Company, which already holds 10,000 Imasen Electric shares, will acquire additional 300,000 shares to raise the ratio of its shareholding in the company to 1.71 percent. Imasen, on its part, is intending to obtain approximately 230,000 shares of TS Tech(0.34 percent of all TS Tech shares), value of which is equal to the Imasen shares TS Tech will gain. The details of the transaction, including its method and schedule, will be decided later. (From an article in the Nikkan Jidosha Shimbun on October. 30, 2010)
>>>Financial Forecast for the Next Fiscal Year(Sales, Operating Income etc.)
Outlook for FY2011
|(in millions of JPY)|
|Rate of Change(%)|
|(in millions of JPY)|
|Technical Center||Tochigi Pref., Japan|
|TS Tech North America, Inc.||Ohio, U.S.A.|
R&D Activities1. Safety technology
-The Company developed active head rests that mitigate neck injuries caused by rear-end collisions; and more compact seat weight-sensors that control air bag deployment based on better sensing of occupants' weights.
2. Environmental technology
-The Company conducted research to improve the dismantling of passenger seats designed for four-wheel vehicles; and studied mono-materials such as cushion materials made of polyester fibers, creating new, lighter weight cushion materials.
-Development of technology aimed at improving the sitting comfort of occupants from the time they seat themselves in a car; and lessening occupants' fatigue during long-time driving.
-Development of technology to improve static comfort based on ergonomics studies; research on ways to measure fatigue using the Company's proprietary theories.
-Aiming to develop the most comfortable seat in the world, the Company continued its R&D activities in the area of active functional devices.
4. Technology for Captivating Products
-The Company developed third-row passenger seats designed with underneath storage that can be opened/closed with one touch; and underneath seat storage that can be operated remotely.
-The Company will pursue integrating technology with electric components such as air conditioned seats, new weight-sensors, as well as multifunctional devices.
5. Car interior technology
-The Company worked to develop door trim lighting that offers a new feeling, balancing function (a single-unit light source) with a greater focus on design.
Capital Investment (in million JPY)
-The Company invested mainly in its facilities and equipment designed to produce new types of product items for the Honda Fit Hybrid; in facilities and equipment for dies; and in the acquisition of land for the Saitama Plant.
-The Company invested mainly to install facilities and equipment to produce mew product items for the new model Honda Odyssey Fit Hybrid and new Civic, in addition to investing in facilities and equipment for dies.
-The Company invested mainly to install facilities and equipment to produce new product items for the new model Honda Accord Crosstour, in addition to investing in facilities and equipment for dies.
- The Company invested mainly to install facilities and equipment to produce new product items for the new model Honda Brio, in addition to investing in facilities and equipment for dies.
Major Capital Investment Projects
(As of Mar. 31, 2011)
||Planned amount of investment (in millions of JPY)||Start||End|
|Buildings, and facilities and equipment to produce seats and interior products for four-wheel vehicles.||1,703||Apr. 2011||Mar.2012|
|TS Tech (Thailand) Co., Ltd..||Ayutthaya, Thailand||Buildings, and facilities and equipment to produce seats and interior products for four-wheel vehicles.||1,042||Jan.2011||Dec.2011|
|TS Tech UK Ltd.||Wiltshire,
|Equipment to manufacture automotive seats||513||Jan.2011||Dec.2012|