Financial Overview
|
(in millions of JPY) |
| |
FY2009 |
FY2008 |
Rate of Change(%) |
Factors |
| Sales |
27,990 |
38,327 |
(27.0) |
-Sales decreased year-on-year, being impacted by a prolonged decline in vehicle production volume in major markets due to sluggish consumer spending. The drop is also attributable to negative currency translation resulting from the appreciation of the yen. |
| Operating income |
(701) |
919 |
- |
-Thanks to strong sales in China, the Company's Asian operations showed a rapid recovery after April, achieving improved profitability. In Japan, North America, and Europe, however, the company's performance deteriorated because of both a large drop in sales and negative currency translation due to a stronger yen. As a result, the Group posted an operating loss, ordinary loss, and net loss. |
| Ordinary income |
(550) |
942 |
- |
| Net income |
(1,216) |
357 |
- |
Recent Developments Outside Japan
The Company announced that it will streamline its production and sales operations in the U.S. and China through integrating the operations of its consolidated subsidiaries. The reorganization plans are intended to make the Nichirin Group leaner and more competitive in the global market. In December 2009, Nichirin Coupler TEC U.S.A. Inc. (NCT), which is producing and selling car air conditioning hose components, will absorb Nichirin-Flex U.S.A., Inc. (NFL), a supplier of automotive hoses. NCT, which will be the surviving entity, will adopt Nichirin-Flex U.S.A., Inc. as a new name. In April 2010, Nichirin Rubber Industrial (Shanghai) Co., Ltd. (NRS), which is producing and selling automotive low pressure hoses, will absorb Nichirin Flex (Shanghai) Co., Ltd., a supplier of rubber & resin hoses for household equipment. NRS will be the surviving corporation in China. (From an article in the Nikkan Jidosha Shimbun on July 7, 2009)
R&D Expenditure
|
(in millions of JPY) |
| |
FY2009 |
FY2008 |
FY2007 |
| Overall |
816 |
1,009 |
1,005 |
Technology Licensed-out
(As of Dec. 31, 2009)
| Company |
Country |
Content of Contract |
Period of Contract |
| From |
To |
| HS R&A |
South Korea |
Manufacturing technology for air conditioner hoses used in automobiles |
Feb. 24, 2007 |
Feb. 23, 2010 |
| Manufacturing technology for automotive brake hoses |
Mar. 5, 2007 |
Mar. 4, 2010 |
| Manufacturing technology for automotive power steering hoses |
Oct. 28, 2007 |
Mar. 4, 2010 |
| PT.Mitra Metal Perkasa |
Indonesia |
Assembling technology for automotive brake hoses |
Oct. 26, 2009 |
Oct. 25, 2010 |
New Product Development
Automotive hoses-The Company developed high-performance and more durable brake hoses, as well as Teflon SUS hoses for the aftermarket. These hoses passed the U.S. Federal Motor Vehicle Safety Standards (FMVSS).
Car air conditioning hoses-The Company is developing hoses for air conditioning systems using HFO1234fy refrigerant, which is a prospective alternative to HFC134a fluorocarbon refrigerant that contributes to global warming.
