Nifco Inc.

Company Profile

■URL

https://www.nifco.com/en/

■Address

5-3 Hikarinooka, Yokosuka-shi, Kanagawa Prefecture, 239-8560, Japan

Business Overview

-The Company operates in two different sectors, which are products made from synthetic resins; and home furnishings and beds.
-The Company holds the top market share in the domestic plastic fastener market.

Business Results Highlights

-The Company’s financial results for the fiscal year that ended in March 2018 are as follows.
Consolidated sales: JPY 271.3 billion (4.6% increase year-over-year)
Operating income: JPY 30.9 billion (3.6% increase year-over-year)
Ordinary income: JPY 30.4 billion (6.9% increase year-over-year)
Current net profit attributable to the parent-company’s shareholders: JPY 21.2 billion
(4.1% increase year-over-year)

Mid-term Management Plan: Nifco Innovation Plan 2020

-The Company’s financial targets for the fiscal year ending in March 2021 are sales of JPY 330.0 billion and an operating income of JPY 38.0 billion. This sales target is 1.5 times higher and the operating income is 1.8 times higher than the actual business results that were achieved in fiscal year 2014.

Shareholders

-Listed on the first section of the Tokyo Stock Exchange. (As of Mar. 31, 2018)
Name or Company Name Investment Ratio (%)
Ogasawara Holdings Co., Limited 11.39
The Master Trust Bank of Japan, Ltd. (Trust Account) 8.39
Japan Trustee Services Bank, Ltd. (Trust Account 9) 7.15
Japan Trustee Services Bank, Ltd. (Trust Account) 4.80
Ogasawara Science Technology Promotion Foundation 4.21
Nippon Life Insurance Company 2.79
BBH for Matthews Asia Dividend Fund 2.09
The Dai-ichi Life Insurance Company, Ltd. 1.98
BBH for Matthews Japan Fund 1.92
Northern Trust Company (AVFC) Re Mondrian International Small Cap Equity Fund, L. P. 1.90
Total 46.65

Products

Fasteners
-Weather strip clips
-Trim clips
-Linkage bushings
-Hole plugs
-Protectors
-Hood bumper rubbers
-Garnish clips
-Mat fasteners
-Connectors
-Bolt caps

Dampers
-Gear dampers
-Middle-torque gear dampers
-Barrel dampers
-Axis dampers

Buckles

Engine
-Engine oil separator
-Engine oil strainer
-Actuator Inlet

Interior
-Cup holders
-Air vents
-Sun-visor holders
-Assist grips
-Clip as alternatives to Hog rings
-Center console lid
-Sunglass holders
-Tether clips
-Seat hooks
-Glove compartment dampers

Exterior
-Clamps
-Fender seals
-Bumper retainers
-Screw grommet
-Glass holders
-Hole plugs
-Cushion rubbers
-Shock absorbers

Fuel
-Push lifters
-Filters
-Valves
-Baffle plates
-Nipples
-Lock nuts

Electrical components
-ECU boxes
-Clearance sonar retainers

History

Feb. 1967 Nichiei Bussan Co., Ltd and Illinois Tool Works, which is based in the USA, established Nihon Kogyo Fasteners in Chiyoda-ku, Tokyo. The new company and ITW concluded a technological assistance agreement.
Oct. 1967 Built the Yokohama Plant (a comprehensive die casting and molding plant) and the Yokohama Office in Kohoku-ku, Yokohama City. Started manufacturing and sales.
Oct. 1969 Built the Sagamihara Plant (a molding plant) in Sagamihara City.
Dec. 1970 Transferred the headquarters to Minato-ku, Tokyo.
Renamed the Company Nifco Inc.
May 1973 Built the Totsuka Plant (a comprehensive die casting and molding pant) in Totsuka-ku, Yokohama City. Transferred the Yokohama Plant and the Yokohama business office there.
Jul. 1976 The Totsuka Plant of the Yokohama Office obtained UL approval.
Dec. 1976 Entered the electronics parts business.
Dec. 1976 Established the Nagoya Plant (general die/molding plant) in Toyotashi, Aichi Pref. Transferred the Nagoya sales office to this new plant and established it as the Nagoya business office, the manufacturing and sales base for western Kansai.
Oct. 1977 Acquired and merged Nichiei Bussan Co., Ltd.
Dec. 1977 Transferred headquarters to Totsuka-ku, Yokohama.
Jul. 1979 Listed on the Second Section of the Tokyo Stock Exchange.
Jul. 1980 Established the new Utsunomiya Business Office, Utsunomiya Plant in the Hiraide Industrial Park, Utsunomiya. Transferred the Utsunomiya business office to these new facilities.
Sep. 1980 Completed construction of the Sagamihara Business Office, Sagamihara Plant (general molding/die plant) (Miyashita Plant)
Apr. 1982 Completed construction of the Utsunomiya Business Office in Kawachi-gun, Tochigi Pref. Transferred the Utsunomiya Business Office to these new facilities.
May 1983 Established Taiwan Industrial Fastener Corporation (TIFCO), a joint venture in Taipei, Taiwan.
Mar. 1984 Listed on the First Section of the Tokyo Stock Exchange.
Mar. 1984 Constructed a new office building for the headquarters.
Jan. 1985 Established Korean Industrial Fastener Corporation (KIFCO), a joint venture, in Kameo-shi, Korea.
Aug. 1985 Listed on the First Section of the Osaka Stock Exchange.
Apr. 1986 Established the new Hong Kong Business Office in Hong Kong.
Oct. 1986 Established ITW Nifco, Inc., as joint venture, in Ohio, USA.
Jul. 1987 Established Nifco Hong Kong Limited, a subsidiary in Hong Kong. At the same time, stopped operations of the Hong Kong Business Office.
Aug. 1987 Established the Hiroshima Business Office in Hiroshima. Transferred the Hiroshima sales office to the new facilities.
Jun. 1986 Listed on the First Section of the Nagoya Stock Exchange.
Nov. 1989 Established Union Nifco Company Limited, a joint venture, in Bangkok, Thailand.
Feb. 1990 Established JT Nifco, a joint venture in Yamagata City.
Mar. 1990 Set up Tokyo branch office in Minato-ku, Tokyo.
Jul. 1990 Acquired Elta Plastics Ltd, located in England.
Oct. 1990 Established Nifco (Malaysia) Sdn. Bhd., a joint venture, in Selangor, Malaysia.
Mar. 1991 Nifco (Malaysia) Sdn. Bhd. was renamed Nifco Hill (Malaysia) Sdn. Bhd.
Dec. 1991 Established Kyusyu JT Nifco, a joint venture in Kikuchi, Kumamoto Pref.
Jul. 1995 Established a subsidiary Nifco (Singapore) Pte. Ltd. in Singapore.
Nov. 1995 Nifco Hill (Malaysia) Sdn. Bhd. was renamed Nifco Manufacturing (Malaysia) Sdn. Bhd.
Mar. 1996 Established a subsidiary Shanghai Nifco Plastic Manufacturer Co., Ltd. in Shanghai, China.
Apr. 1996 Established a subsidiary Nifco US Corporation in Ohio, U.S.A.
Jun. 1996 The Sagamihara Plant was renamed the Yokohama Plant.
Dec. 1997 Bought into the joint venture ITW Nifco Inc in Ohio, U.S.A. and then merged it with Nofco Us Corporation, the successor company.
Aug. 1998 Nifco US Corporation renamed as Nifco Corporation.
Nov. 1999 Made Nifco Corporation the Company's holding company, renaming it to Atherton Inc.
Established a subsidiary, Nifco LLC, at the same time.
Nov. 1999 Opened the Elta Plastics Ltd. office in Brussels, Belgium.
Nov. 1999 The Yokohama Plant was renamed the Sagamihara Plant.
Sep. 2000 US subsidiary, Nifco LLC. established a new plant in Canal Point, Ohio, US.
Apr. 2001 Nifco Plastics Ltd. made into a subsidiary and acquired 4 companies of Spain's Acriplas Group.
Nov. 2001 Nifco Plastics Ltd. was renamed Nifco U.K. Limited.
Nov. 2001 Established Tifco (Dongguan) Co., Ltd. in Guangdong, China, which is a 50/50 joint venture with Taiwan Industrial Faster Corp. (TIFCO).
Feb. 2002 Nifco Plastics Ltd. merged with the acquired 4 companies of Spain's Acriplas Group. Renamed Nifco Products Espagne SLU.
Feb. 2002 Established a subsidiary Dongguan Nifco Co., Ltd. in Guangdong, China.
Jun. 2002 Changed an affiliated company in Taiwan, Taiwan Industrial Fastener Corporation, to the Company's subsidiary by buying further shares in the company.
Jul. 2002 Established a subsidiary Nifco Thailand Co., Ltd. in Chonburi, Thailand.
Feb. 2003 Atherton Inc was renamed Nifco America Corporation.
Mar. 2003 Decided to delist the Company from the Osaka and Nagoya Stock Exchanges.
Apr. 2003 A holding company Atherton Inc. took over its 100% subsidiary Nifco LLC. and changed the name to Nifco America Corporation.
Nov. 2004 Established a subsidiary Beijing Nifco Co., Ltd. in Tongzhou, Beijing, China.
Jan. 2005 Established a subsidiary Kifco Vietnam., Ltd. in Tay Ninh, Vietnam.
Mar. 2005 Turned affiliated companies JT Nifco Corporation and Kyushu JT Nifco Corporation into the Company's subsidiaries by increasing its stakes in both companies.
Feb. 2006 Established a subsidiary Nifco Poland Sp.zo.o. in Swidnica, Poland.
Mar. 2007 Established a subsidiary, Nifco North America Inc, in Kentucky, USA.
Jun. 2007 Established a subsidiary, Nifco Deutschland GmbH in Eschborn, Germany.
Oct. 2007 Korea Industrial Faster Corp. (KIFCO), a subsidiary of the Company in South Korea, was renamed Nifco Korea Inc.
Taiwan Industrial Faster Corp. (TIFCO), a subsidiary of the Company in Taiwan, was renamed Nifco Taiwan Corp.
Nov. 2007 Kifco Vietnam Limited, a subsidiary of the Company in Vietnam, was renamed Nifco Vietnam Limited.
Apr. 2008 JT Nifco Inc. was renamed Nifco Yamagata Inc.
Kyushu JT Nifco Inc. was renamed Nifco Kumamoto Inc.
Sep. 2008 Bought additional shares in Union Nifco Co, Ltd., making it a subsidiary.
Oct. 2008 Established a subsidiary, Nifco Korea USA Inc., in Alabama, USA.
Apr. 2009 The Company's subsidiary, Nifco America Corporation, absorbed the operations of another subsidiary, Nifco North America Inc.
Jan. 2010 Established a subsidiary, Nifco Tianjin Co. Ltd., in Tianjin, China.
Apr. 2010 Established a subsidiary, Nifco Enterprise Management (Shanghai) Co., Ltd., in Shanghai, China.
Jun. 2010 Established a subsidiary, Nifco India Private Ltd. in Gurgaon, India.
Jul. 2010 Established a subsidiary, Nifco South India Manufacturing Private Ltd. in Chennai, India.
Nov. 2010 Established a subsidiary, Nifco (Hubei) Co., Ltd. in Hubei, China.
Dec. 2010 Established a subsidiary, Nifco Korea Poland Sp. z o.o. in Zory, Poland.
Jan. 2011 Established a subsidiary, Nifco (Jiang Su) Co., Ltd. in Jiangsu, China.
May 2011 Established PT Nifco Indonesia, a subsidiary in Jakarta, Indonesia.
Jun. 2011 Established Nifco (Yancheng) Co., Ltd., a subsidiary in Yancheng, Jiangsu Province, China.
Jul. 2012 Established Nifco Central Mexico S.de R.L.de C.V. in Irapuato, Mexico.
Mar. 2013 Completed its Nifco Technology Development Centre in Yokosuka, Kanagawa Prefecture, Japan.
May 2013 Acquired the German company KTS and its affiliated group companies.
May 2014 Acquired the German company KTW and its affiliated group companies.
Jan. 2015 Relocated headquarters to Yokosuka, Kanagawa Pref., Japan
Apr. 2015 Established Nifco KTW America Corporation, a subsidiary in Georgia, USA.
Sep. 2015 Established a subsidiary, Nifco (Chongqing) Limited Liability Company, in Chongqing, China.
Aug. 2016 Constructed new explosion-proof and testing buildings in Yokosuka, Kanagawa Prefecture.
Apr. 2018 Renewed its corporate philosophy, corporate logo and corporate slogan.

Supplemental Information 1

Technical Alliance Agreements

(As of Mar. 31, 2018)
Company Name
(Location)
Contract Coverage Contract Term
Illinois Tool Works Inc.
(USA)
Plastic buckles Until Aug. 27, 2023

Technology Licensing-out Agreement

(As of Mar. 31, 2018)
Company Name
(Location)
Contract Coverage Contract Term
Nifco Taiwan Corporation
(Taiwan)
Manufacturing technology for plastic buckles and industrial-use fasteners Until Dec. 31, 2020
Nifco Korea Inc.
(Korea)
Manufacturing technology for plastic buckles and industrial-use fasteners Until Dec. 31, 2019
Union Nifco Co, Ltd.
(Thailand)
Production technology for plastic buckles, and fastener assemblies made of plastic and metal Until Dec. 31, 2022
Nifco Manufacturing (Malaysia) Sdn. Bhd
(Malaysia)
Manufacturing technology for plastic buckles and industrial-use fasteners Until Dec. 31, 2019
Nifco (Hong Kong) Ltd.
(Hong Kong)
Production technology for plastic buckles, and fastener assemblies made of plastic and metal Until Dec. 31, 2019
Nifco U.K. Ltd.
(UK)
Production technology for industrial-use plastic parts, and assemblies that include non-plastic parts and materials Until Dec. 31, 2019
Nifco America Corporation
(USA)
Production technology for industrial-use plastic parts, and assemblies that include non-plastic parts and materials Until Dec. 31, 2019
Nifco Products Espana S.L.U.
(Spain)
Production technology for buckles and industrial-use plastic parts, assemblies that include non-plastic parts and materials, and dies for these respective parts and their finished products Until Dec. 31, 2019
Shanghai Nifco Plastic Manufacturer Co., Ltd.
(China)
Production technology for plastic and metal fastening parts/finished products; composite products made of plastic and metal parts; and dies for buckles and these parts and finished products Until Dec. 31, 2019
Boosung Industrial Corporation
(Korea)
Production technology for plastic buckle parts and industrial-use plastic parts; assemblies that include non-plastic parts and materials, and dies for these respective parts and their finished products Until Dec. 31, 2022
Dongguan Nifco Co., Ltd.
(China)
Production technology for plastic and metal fastening parts/finished products; composite products made of plastic and metal parts; and dies for buckles and these parts and finished products Until Dec. 31, 2019
Nifco (Thailand) Co., Ltd.
(Thailand)
Production technology for plastic buckle parts and industrial-use plastic parts; assemblies that include non-plastic parts and materials, and dies for these respective parts and their finished products Until Dec. 31, 2019
Tifco (Dongguan) Co., Ltd.
(China)
Production technology for plastic and metal fastening parts/finished products; composite products made of plastic and metal parts; and dies for buckles and these parts and finished products Until Dec. 31, 2021
Beijing Nifco Co., Ltd.
(China)
Production technology for plastic and metal fastening parts/finished products; composite products made of plastic and metal parts; and dies for buckles and these parts and finished products Until Dec. 31, 2021
Nifco Poland Sp.zo.o.
(Poland)
Production technology for industrial-use plastic parts; assemblies that include non-plastic parts and materials, and dies for these respective parts and their finished products Until Dec. 31, 2019
Nifco Vietnam Ltd.
(Vietnam)
Production technology for industrial-use plastic parts; assemblies that include non-plastic parts and materials; and dies for these respective parts and their finished products Until Dec. 31, 2018
Nifco (Tianjin) Co. Ltd.
(China)
Production technology for plastic and metal fastening parts/finished products; composite products made of plastic and metal parts; and dies for buckles and these parts and finished products Until Dec. 31, 2019
Nifco India Private Ltd.
(India)
Production technology for industrial-use plastic parts; assemblies that include non-plastic parts and materials; and dies for these respective parts and their finished products Until Dec. 31, 2019
Nifco (Hubei) Co., Ltd.
(China)
Production technology for plastic and metal fastening parts/finished products; composite products made of plastic and metal parts; and dies for buckles and these parts and finished products Until Dec. 31, 2019
Nifco Korea USA Inc.
(USA)
Production technology for plastic buckles and industrial-use plastic parts; assemblies that include non-plastic parts and materials; and dies for these respective parts and their finished products Until Dec. 31, 2020
Nifco (Jiangsu) Co., Ltd.
(China)
Production technology for plastic and metal fastening parts/finished products; composite products made of plastic and metal parts; and dies for buckles and these parts and finished products Until Dec. 31, 2021
Nifco South India Manufacturing Private Ltd.
(India)
Production technology for plastic buckles and industrial-use plastic parts; assemblies that include non-plastic parts and materials; and dies for these respective parts and their finished products Until Dec. 31, 2022
Nifco (Yancheng) Co., Ltd.
(China)
Production technology for plastic and metal fastening parts/finished products; composite products made of plastic and metal parts; and dies for buckles and these parts and finished products Until Dec. 31, 2021
PT. Nifco Indonesia
(Indonesia)
Production technology for plastic buckles and industrial-use plastic parts; assemblies that include non-plastic parts and materials; and dies for these respective parts and their finished products Until Dec. 31, 2019
Nifco Korea Poland Sp. z o.o.
(Poland)
Production technology for industrial-use plastic parts; assemblies that include non-plastic parts and materials; and dies for these respective parts and their finished products Until Dec. 31, 2022
Nifco Central Mexico S.de R.L.de C.V.
(Mexico)
Production technology for plastic buckles and industrial-use plastic parts; assemblies that include non-plastic parts and materials; and dies for these respective parts and their finished products Until Dec. 31, 2019
Nifco (Chongqing) Co., Ltd.
(China)
Production technology for plastic buckles and industrial-use plastic parts; assemblies that include non-plastic parts and materials; and dies for these respective parts and their finished products Until Dec. 31, 2022

Important Contracts from a Management Perspective

(As of Mar. 31, 2018)
Company Name
(Location)
Contract Coverage Contract Term
Nifco Taiwan Corporation
(Taiwan)
Joint venture to manufacture and sell plastic buckles and industrial fasteners (for automobiles and home appliances) in China As long as Tifco (Dongguan) Co., Ltd. remains in operation.
Daimler AG
(Germany)
Console box patent licensing agreement Until Oct. 5, 2024


>>>FY ended Mar. 31, 2007 Business Report

>>>FY ended Mar. 31, 2008 Business Report
>>>FY ended Mar. 31, 2009 Business Report
>>>FY ended Mar. 31, 2010 Business Report
>>>FY ended Mar. 31, 2011 Business Report
>>>FY ended Mar. 31, 2012 Business Report
>>>FY ended Mar. 31, 2013 Business Report
>>>FY ended Mar. 31, 2014 Business Report
>>>FY ended Mar. 31, 2015 Business Report
>>>FY ended Mar. 31, 2016 Business Report

Archives of Past Exhibits

>>>Nifco Inc. (Investor Relations)

>>>Sales and Income Forecasts for the Next Fiscal Year