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5. Yorozu Corp. Business Report FY ended Mar. 2020

Yorozu Corp. Business Report FY ended Mar. 2020

<Sales by Region>

• Japan: Sales were JPY 49,977 million, a year-on-year (y/y) decrease of 11.6%. Sales were impacted by lower production volumes at major customers and by business suspensions implemented because of the coronavirus pandemic, even though production of parts was launched to deliver products in response to new product-orders.
• The Americas: Sales were JPY 67,571 million, a y/y decrease of 4.4%, due to a shift in demand from passenger cars to pick-up trucks and lower production volumes at major customers.
• Asia: Sales were JPY 52,563 million, a y/y decrease of 11.5%. Sales of dies and equipment at an Indian subsidiary increased in line with the launch of new vehicle models. Nevertheless, sales overall decreased because of significantly lower new-vehicle production volumes by major customers in China and Thailand.

Reorganized Company on April 1: Created Production Equipment External Sales Department
-Yorozu Corporation (Yorozu) announced that it will change its organizational structure and establish a new department for the external sales of production equipment on April 1. The company has been focusing on the enhancement of its in-house production capability for production equipment products at its subsidiaries that develop and produce molds, production devices and equipment, including Yorozu Engineering Corporation (Higashi-Tagawa, Yamagata Prefecture), and the improvement of in-house production efficiency with its original technologies. Yorozu will officially start sales of molds and production equipment for other companies in addition to its group companies by establishing the new external sales department. The company aims to improve its technology and competitiveness in order to make the production equipment business one of its business pillars in the future. Mr. Akihiko Shido, Chairman and member of the board, stated, “We will be able to understand other companies’ sense of cost through external sales. We intend to expand the production equipment business from 2020, and to utilize orders for production equipment to increase orders for parts.” (From an article in the Nikkan Jidosha Shimbun on March 17, 2020)

New Product Orders

-In the fiscal year that ended in March 2020 the Company delivered the following products to the OEMS/vehicle models listed below:

• Japan: Honda Fit (front subframes, rear beams)
• USA: Nissan Almera (front members, rear beams)
• China: Nissan Sylphy (front members, rear beams)

R&D Facilities

-Under the Company’s mid-term management plan, the Company is working on developing new products at the Yorozu Global Technical Center (YGTC) in Oyama City, Tochigi Prefecture, as a means to further strengthen its product appeal and development capabilities.