Nichirin Co., Ltd.
-An independent, leading manufacturer of hoses for automobiles and motorcycles. The Company supplies nearly 100% of all brake hoses and clutch hoses for motorcycles that are required in Japan.
-In FY ended Dec. 2018, consolidated sales were JPY 62,413 million, operating income was JPY 8,449 million, ordinary income was JPY 8,512 million, and net income attributable to the parent's stock was JPY 4,644 million.
Factors by Region
-Sales were JPY 33,051 million, compared to JPY 31,651 million in the previous year. Sales in Japan were strong and commercial production started of a new car air-conditioning internal heat-exchanger. Operating income was JPY 2,343 million, compared to JPY 2,323 the previous year, as a result of higher labor costs in line with an increase in the number of product orders.
-While production of the IHX started, demand fell for hose used in power-steering systems, one of the Company’s main products. Sales were JPY 11,908 million, compared to JPY 12,464 million in the previous year; and operating income was JPY 534 million, compared to JPY 658 million the previous year.
-Due to greater demand worldwide for hose used in car air-conditioning, sales were JPY 11,936 million, compared to JPY 11,452 million in the previous year; and operating income was JPY 1,802 million, compared to JPY 1,887 the previous year.
-Due to increased sales of motorcycle brake hose in line with the growth of ABSs and strong sales of new products launched on the market, sales were JPY 15,700 million (JPY 14,240 million in the previous year) and operating income was JPY 3,739 (JPY 3,752 in the previous year).
-Sales were JPY 5,809 million (JPY 5,938 million in the previous year). An operating loss of JPY 20 million resulted from initial startup costs needed to launch production of products for new orders won. An operating income of JPY 121 million was recording in the previous year.
Mid-term Management Plan "NICHIRIN Growth Strategy 2020"
-In Nov. 2014, they Company drew up mid-term management plan "2015 - 2020: Nichirin Growth Strategy 2020: NGS2020"
<2020 Consolidated management guideline>
- Sales: 30% increase since 2013
- Operating margin: stably achieve 8% or higher margin
- Net profit margin: stably achieve 5% or higher margin
- Capital-to-asset rate: 50% or higher
|-Listed on the Second Section of the Tokyo Stock Exchange.||(As of Dec. 31, 2018)|
|Name or Company name||Investment Ratio (%)|
|Taiyo Koko Co., Ltd.||23.00|
|Japan Trustee Services Bank, Ltd. (Trust Account)||7.01|
|BNP PARIBAS SECURITIES SERVICES LUXEMBOURG/JASDEC/FIM/LUXEMBOURG FUNDS||4.33|
|Tokyo Century Corporation||3.32|
|Mizuho Bank Ltd.||2.60|
|Nippon Fine Chemical Co., Ltd.||1.99|
|Mizuho Investors Securities Co., Ltd.||1.48|
|NORTHERN TRUST CO. (AVFC) SUB A/C NON TREATY||1.34|
|STATE STREET CLIENT OMNIBUS ACCOUNT OD11||1.08|
-Air Conditioning Hoses
-Power Steering Hoses
|May, 1914||Founded manufacturing business of bicycle tires, tubes, various rubber hoses and industrial rubber products under the name of Nippon Ringyo Goshi Company in Kobe, Japan.(Initial capital: 100,000 yen)|
|Mar. 1924||Changed the company name to Nippon Ringyo Co., Ltd.|
|Feb. 1931||Changed the company name to Nippon Ringyo Gomu Co., Ltd.|
|May, 1934||Started making phenolic molding products for manufacturing artificial silk in Osaka.|
|Apr. 1937||Began manufacturing business of high pressure hoses for aircraft and rubber hoses for automobiles.|
|1941-1943||Established additional plants in Osaka, Tsutsui (Kobe), Himeji city to increase production capacity of aircraft hoses and oil resistant seal products.|
|Mar. 1943||Established Tokyo office to promote sales activities in the eastern region of Japan.|
|Aug. 1943||Changed the company name to Nichirin Rubber Industrial Co., Ltd.|
|Aug. 1945||All facilities were destroyed during World War 2.|
|Aug. 1945||All the plants burned down due to the war.|
|Mar. 1946||Re-established a new facility in Himeji city and continued manufacturing business.|
|Apr. 1957||Started production of car air conditioning hoses.|
|Apr. 1965||Started production of power steering hoses.|
|Apr. 1967||Started production of hydraulic brake hoses for use in motorcycles.|
|Mar. 1970||The Himeji Factory was moved from Hojo, Himeji City, because of the Sanyo Shinkansen project. The plant started operations at the new site in Bessho-cho in the same city.
The Company discontinued production of motorcycle tire tubes and hoses for railcars.
|Nov. 1975||Raised capital to 100 million yen.|
|Oct. 1986||Established overseas affiliate, "Sunchirin Industry (M) Sdn. Bhd." in Malaysia. (Currently, Sunchirin Industries (Malaysia Berhad)|
|Feb. 1987||Established overseas subsidiary, "Nichirin Inc." in Canada.|
|July, 1989||Established overseas subsidiary, "Nichirin-Flex U.S.A., Inc." in the United States.|
|Sep. 1989||Moved the Tokyo office to Shibaura, Minato ward, Tokyo.|
|July, 1991||Changed the company name to "Nichirin C., Ltd."|
|Jun. 1994||Established overseas affiliate, "Nichirin (Thailand) Co., Ltd." in Thailand.|
|Aug. 1995||Moved its headquarters to Sannomiya, Chuo-ku, Kobe City.|
|Oct. 1995||All the hose operations at the Himeji Plant obtained ISO9001 certification.|
|July, 1996||Sunchirin Industries (Malaysia) Berhad (an affiliated company in Malaysia) was listed on the second section of the Kuala Lumpur Stock Exchange.|
|Dec. 1996||Established ShanghaiI Nichirin Automobile Accessories Co., Ltd. as a local subsidiary in China.|
|Aug. 1997||Listed on the second section of the Osaka Stock Exchange.|
|Oct. 1998||Established Nichirin Coupler Tech USA Inc. as a local subsidiary in the United States.|
|Feb. 1999||Established Nichirin UK Limited as a local subsidiary in England.|
|Jul. 2001||Established a joint venture in the Czech Republic with Visteon, Visteon Nichirin Czech SRO.|
|Feb. 2002||Obtained ISO14001 certification.|
|Apr. 2002||Jointly with Nichirin Inc. established Nichirin Tennessee Inc, a new company which manufactures brake and power steering hoses for use in passenger cars and motorcycles in Tennessee, USA.|
|July, 2004||Absorbed Nichirin Kohan Co., Ltd., its subsidiary established in June 1966.|
|Nov. 2004||Established Nichirin Flex (Shanghai) Co., Ltd. in China.|
|Feb. 2005||Acquired ISO/TS16949: 2002 Certification.|
|Aug. 2005||Established Nichirin Rubber Industrial (Shanghai) Co., Ltd) in China.|
|Nov. 2005||The Company issued an additional 1 million shares, increasing the number of outstanding shares to 9 million and registered capital to 1,729 million yen.|
|Apr. 2006||Established the Nichirin R&D center within the premises of the Himeji plant.|
|May 2008||Established Nichirin Vietnam Co., Ltd. in Vietnam.|
|Oct. 2010||Established Nichirin Autoparts India Pvt., Ltd. in India.|
|Apr. 2011||The Company established PT. Nichirin Indonesia, a subsidiary in Indonesia.|
|Feb. 2013||Established overseas office Hutchinson Nichirin Brake Hoses, S.L. in Spain.|
|Feb. 2013||Announced that it plans to close and liquidate its Canada-based subsidiary, Nichirin Inc., effective June 30, 2013.|
|July 2013||Listed on the second section of the Tokyo Stock Exchange after the market of the Osaka Securities Exchange was integrated with that of the Tokyo Stock Exchange.|
|Oct. 2016||Converted Hutchinson Nichirin Brake Hoses, S.L., a joint venture with France-based Hutchinson S.A., into a consolidated subsidiary by increasing stake in the company from 70% from the previous 30%.|
|Dec. 2017||Established a research center for production technologies (production technology center) within the premises of the Himeji plant.|
|Dec. 2017||Established Suzhou Nichirin Automobile Parts Co., Ltd. in China as a subsidiary.|
Supplemental Information 1
Technology Licensed-out Agreement
|(As of Dec. 31, 2018)|
|Company||Country||Content of Contract||Period of Contract|
|Hwaseung R&A Co.,Ltd.||South Korea||Manufacturing technology for air conditioner hoses used in automobiles||Mar. 5, 2016||Mar. 4, 2019|
|Manufacturing technology for automotive brake hoses||Mar. 5, 2016||Mar. 4, 2019|
|Manufacturing technology for automotive power steering hoses||Mar. 5, 2016||Mar. 4, 2019|
>>>Business report FY ended Dec. 31, 2007
>>>Business report FY ended Dec. 31, 2008
>>>Business report FY ended Dec. 31, 2009
>>>Business report FY ended Dec. 31, 2010
>>>Business report FY ended Dec. 31, 2011
>>>Business report FY ended Dec. 31, 2012
>>>Business report FY ended Dec. 31, 2013
>>>Business report FY ended Dec. 31, 2014
>>>IR information of Nichirin Co., Ltd.
>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
Note: A figure in brackets ( ) indicates a loss