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5. Somboon Advance Technology Public Co., Ltd. Business Report FY ended Dec. 2015

Somboon Advance Technology Public Co., Ltd. Business Report FY ended Dec. 2015

Factors
1) Net Sales
-The Company’s sales for the fiscal year ended December 31, 2015 were THB 8,644.5 million, an increase of 6.9% from the previous fiscal year. The increase in sales is primarily due to the increased price per unit which had increased in line with the cost of sales. The increase in sales was partially offset by worsening economic conditions in Thailand, which has negatively impacted the Thailand automotive market.

2) Net Profit
-In the fiscal year ended December 31, 2015, the Company’s net profit decreased by 1.3% to THB 641.5 million. The decrease in net profit was caused by a decline in sales volume in some of the Company’s product lines.

Technological Alliance

-The Company’s subsidiary, Bangkok Spring Industrial Co., Ltd. (BSK), signed a technical cooperation agreement with Chuo Spring Co., Ltd. Under the agreement, Chuo Spring will provide BSK with its technologies to develop and manufacture suspension parts for automobiles and transportation equipment, including coil springs, stabilizer bars and leaf springs. (From a press release on April 27, 2015)

Technical Assistance Agreements