Mitsuboshi Belting Ltd.

Company Profile

■URL

http://www.mitsuboshi.co.jp/english/

■Address

4-1-21 Hamazoe-dori, Nagata-ku, Kobe City, Hyogo Pref., 653-0024, Japan (Kobe Head Office)

Business Overview

-Major lines of business are production and sales of belts and other products (building materials, synthetic resin materials, etc).

-Belts generated 85.6% of the Company's operating revenue as of the end of the fiscal year ended Mar. 31, 2016.

Financial Overview

-In FY ended March 2016, the Company generated consolidated sales of JPY 67.06 billion, which was a 1.2% increase on a year-over-basis (y/y). The Group's operating profit was JPY 7.63 billion (a 7.0% increase y/y), ordinary profit was JPY 7.78 billion (a 5.2% decrease y/y), and net income (attributable to owners of parent company) was JPY 5.69 billion (a 7.4% decrease y/y).

-The Company announced that it has developed a new damper pulley and started supplying it to Toyota Motor Corporation. The new damper pulley is designed to accommodate variations in the tension of belts for automotive alternators (generators). 

Shareholders

-Listed on the first section of the Tokyo Stock Exchange. (As of Mar. 31, 2016)
Name or Company Name Investment ratio (%)
Japan Trustee Services Bank Ltd. 9.09
Toyota Motor Corporation 3.45
Bank of Tokyo Mitsubishi UFJ Ltd. 3.43
Individual shareholder 3.03
Nishimatsu Construction Co., Ltd. 2.93
Seiyu Shareholding 2.86
Employee stock holdings 2.29
Mitsui & Co., Ltd. 2.20
Mitsubishi UFJ Trust and Banking Corporation 2.01
Daido Life Insurance Company 1.99
Total 33.29

Products

Driving belts
- Timing belts
- Low edge V-belts
- V-ribbed belts

Auto Tensioner

History

Oct. 1919 Genzo Oda established Mitsuboshi Shokai to manufacture mainly cotton belts at the present Kobe Plant site.
Mar. 1920 Cotton belts were replaced with rubber belts.
Oct. 1932 The business was incorporated as Mitsuboshi Shokai Co., Ltd.
May, 1957 Manufacture of timing belts began.
Jul. 1958 Listed on the Osaka Stock Exchange.
May, 1961 Company renamed Mitsuboshi Belting Ltd.
Jun. 1961 Listed on the Nagoya Stock Exchange.
May, 1962 Listed on the Tokyo Stock Exchange.
Apr. 1965 Manufacture of interior automotive components began.
Jul. 1973 Manufacture of exterior automotive components began.
Feb. 1999 Established Mitsuboshi Belt R&D Laboratory in Ayabe, Kyoto, to develop and test the Company's production system.
Oct. 1999 Formed a partnership with Visteon (USA) on joint development and sales of cockpit module molded parts. In the five year contract term, the companies will co-develop plastic parts to be used in instrumental panels and such featured in Visteon's cockpit modules.
Apr. 2000 Build, adjacent to the current Kobe head office, the techno-research center in order to carry out basic research and develop for new products.
Oct. 2000 Extended and remodeled the headquarters building in Nagata-ku, Kobe to become the General Management Center and moved the headquarters office from Chuo-ku, Kobe to the General Management Center.
Aug. 2001 MOI Tech Private Ltd., the Company's subsidiary, established a new subsidiary, MOI Tech Europe, in Poland.
Oct. 2001 Merged two subsidiaries, Mitsuboshi Belting Kitanihon and Tokyo Mitsuboshi Kohan to start operations as Mitsuboshi Belting Sales.
Nov. 2001 Span off the Chemiflex business from its subsidiary, MBL (USA) Corporation, to form a new subsidiary, Mitsuboshi Chem Corporation.
Jun. 2002 MBL (Europe) B.V., a subsidiary of the Company, established MBL Shanghai International Trading Co., Ltd.
Jan. 2003 Merged two companies, Mitsuboshi Belting (Singapore) Pte Ltd. and Mitsuboshi Overseas Headquarters Private Limited into one company.
Jan. 2003 Consolidated Mitsuboshi Belting Sales Co., Ltd.; Mitsuboshi Belting Nakanihon Co., Ltd.; and Mitsuboshi Belting Nishinihon Co., Ltd. into one operation that adopted the name Mitsuboshi Belting Sales Co., Ltd.
Apr. 2003 Spun off its Chemical Products Kanagawa Plant, turning it into a subsidiary called Kyousei Kogyo Co., Ltd.
Jul. 2003 Stars Technologies Industrial Limited, which the Company's subsidiary Mitsuboshi Overseas Headquarters Private Limited established in Thailand, started operations.
Oct. 2003 Transferred the chemical product manufacturing business to a subsidiary, Meisei Kogyo Co., Ltd.
Oct. 2003 Introduced a system called the operating executive director system, in which the directors hold actual daily operations accountability.
Apr. 2004 The Company's subsidiary MOI Tech Private, Ltd. established its own subsidiary Suzhou Mitsuboshi Belting Co., Ltd. in Suzhou, China.
Oct. 2004 Spun off its chemical product business and established it as a subsidiary named Mitsuboshi Belting Kaseihin Co., Ltd.
Sep. 2006 The Company transferred all the equity it held in Mitsubishi Belting Kaseihin Co., Ltd. to International Automotive Components Group Japan, LLC.
Dec. 2007 Liquidated the Company's subsidiary, Mitsuboshi Chem. Corporation.
Nov. 2010 Merged the business operations of its Thai subsidiary, Mitsuboshi Belting (Thailand) Co., Ltd., into Stars Technologies Industrial Ltd., consolidating the business operations of both companies.
Jan. 2013 Merged the operations of two subsidiaries, Mitsuboshi Overseas Headquarters Private Limited and MOI Tech Private Limited.

Supplemental Information 1