FY2018 Financial Result
From April 1, 2018 through March 31, 2019
TACHI-S CO., LTD.
May 20, 2019 At the AUTO SHANGHAI 2019 Concept X-4
Securities Code: 7239 (Tokyo/First Section) 1/53 Corporate Overview
Company Name TACHI-S CO., LTD.
3-3-7, Matsubara-cho, Akishima-shi,Tokyo Corporate Headquarters 196-8611
Date of Establishment April 7, 1954
Paid-in Capital 9.04 billion yen
300.5 billion yen (Consolidated) Net Sales (Fiscal Year Ended March 31, 2019)
Number of Employees 13,265 (Consolidated) (As of March 31, 2019)
Stock Exchange Listing Tokyo / First Section (Securities Code : 7239)
Business Contents Manufacturing of automotive seats
2/53 Contents
FY2018 Financial Result
Global Teamwork 2020
FY2019 Financial Forecast
Capital Expenditures
Dividend
3/53 Contents
FY2018 Financial Result
Global Teamwork 2020
FY2019 Financial Forecast
Capital Expenditures
Dividend
4/53 FY2018 Financial Result Summary of Financial Result
Japan North America Sales increase Stagnation of sedan market
[Net Sales] +5.9％ [Net Sales] -2.9% (vs. previous year) (vs. previous year)
Overview
- Regional market variations reflected in sales trends for each region - Negative impact of unfavorable foreign currency exchange rates
Latin America China Sales decrease due to impacts from customer’s flood damage [Net Sales] -7.6% [Net Sales] +3.8% (vs. previous year) (vs. previous year)
5/53 FY2018 Financial Result FY2018 Financial Result (Consolidated)
(Unit: billion yen） vs. previous year (Amounts are rounded down)
2018/03 2019/03 Change Change(％)
Net Sales 295.4 300.5 +5.0 +1.7
Operating Income 8.6 5.4 -3.2 -37.5
Ordinary Income 11.9 7.0 -4.9 -40.9 Net Income* 8.1 1.9 -6.2 -76.1
300.5 11.9 295.4 18/03 19/03 8.6 7.0 8.1 5.4
1.9
Net Sales Operating Income Ordinary Income Net Income*
* Net income attributable to TACHI-S CO., LTD. 6/53 FY2018 Analysis of Increase / Decrease Financial Result (Consolidated) (Unit: billion yen） vs. previous year Net Sales (Amounts are rounded down)
300.5 Region Change Change(%) 295.4
134.4 Japan +7.4 +5.9%
50.3 North America -1.5 -2.9%
55.7 Latin America -4.6 -7.6%
3.1 Europe +0.9 +44.2% 52.5 China +1.9 +3.8％
4.3 Southeast Asia +0.8 +24.7％
18/03 19/03 Exchange 18/03 USD=¥111.19 RMB=¥16.59 Rate 19/03 USD=¥110.67 RMB=¥16.74 7/53 FY2018 Analysis of Increase / Decrease Financial Result (Consolidated) (Unit: billion yen） vs. previous year Operating Income (Amounts are rounded down) 8.6
5.4 Region Change 0.7 Japan -0.2
6.1 China ＋0.1
0.1 Southeast Asia +0.1 0.0 Europe +1.2 -0.3 North America -1.1
-1.3 Latin America -3.3
18/03 19/03 8/53 FY2018 Analysis of Increase / Decrease Financial Result (Consolidated) (Unit: billion yen） vs. previous year Net Income* (Amounts are rounded down) 8.1
1.9 Region Change
3.5 China +0.1
0.5 Southeast Asia +0.4 1.7 Equity method affiliates -0.4 -0.0 Japan -2.7 -0.8 North America -0.6
-2.9 Latin America -4.5
-0.0 Europe +1.4
18/03 19/03
* Net income attributable to TACHI-S CO., LTD. 9/53 Contents
FY2018 Financial Result
Global Teamwork 2020
FY2019 Financial Forecast
Capital Expenditures
Dividend
10/53 GT2020 Progress Global Vehicle Production Forecast Global production volume will be increased more and more by being driven by China ・ 2021: 102milliom, 2025: 111million ・ 20% growth from ’16 to ‘25
(Unit: million car sets)
Emerging countries Emerging Emerging countries countries
China
Developed Developed Developed countries countries countries
(Ref.) LMC Automotive Production Forecast by Region (Mexico is included in South America) 11/53 GT2020 Progress Global Teamwork 2020
◆ TACHI-S ’16-’20 Management Strategy Global Teamwork 2020
Improve Corporate Value with Global One Team, making us a Continuously Selected Company based on 'TRUST' by our Customers
12/53 GT2020 Global Teamwork 2020 Progress Objective and Key Actions
Build a Solid Business Base that Enables Sustainable Achievement of Goals (*) for Vision GC177 in 2020 Objecti * Quality No. 1, Operating Income 7% ves Global Share 7% Expand Sales: + 30% Achieve Benchmark Monozukuri Cost
Global Business Expansion Transfor グローバルビジネス拡大 mation areas Sales売りの Power力 Monozukuriモノづくり力Capability
Business Bases コーポレート・ガバナンスStrengthen corporate governance強化 (Foundation)
13/53 GT2020 Global Teamwork 2020 Progress Production Volume Status The rate of increase in TACHI-S production volume exceeds that in global production volume of the whole industry (Unit: 10K car sets) FY2012 FY2015 FY2018 Global Production 8,276 8%UP 8,910 6%UP 9,417 Volume (*)
TACHI-S 312 380 493 (share) 22%UP 30%UP (3.8%) (4.3%) (5.2%) 5.2% 6,000 5.00% 4.3% 4,930 5,000 3.8% 4.00% 4,000 3,799 3,126 3.00% 3,000 2.00% 2,000
1.00% 1,000
0 0.00% 2012 2015 2018 Japan日本 North北米 America 中国China アセアンASEAN Europe欧州 South南米 America ｼｪｱ Share Note) Excluding TACLE for FY2012 (*) LMC January, 2019 Global Automotive Production Forecast Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales売りの Power力 Monozukuriモノづくり力Capability governance 14/53 GT2020 Progress New Model Launch
26 New Models/Minor Model Changes in FY2018 2018 2019 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
●Vezel (MY18) ●N-VAN ●RAV4 Fairlady Z● Skyline● Japan ●Jade (MY18) (MY20) (MY19/20) ●MDX (MY19) ●Accord (MY19) USA ●Leaf(FRM) (MY19) ●Maxima (MY19) ●Accord FHEV ●Murano (MY19) ●Kicks USA (MY19) ●HR-V (MY19) ●Kicks MEX (MY19) MEX ●Versa (MY19) ●March (MY19) ●Emgrand EV ●Emgrand PHEV Emgrand EV● ●Vezel(FRM) (MY19) (MY19) New Emgrand (MY19)● China ●Terra ●X-Trail ●Ruiqi 6 ●Sylphy EV ●Venucia T60 Qashqai● (FRM) (MY19) ●高級SUV ●Karry KX63
ASEAN ●Terra
●NISSAN/VENUCIA/DAIMLER ●HONDA/ACURA ●TOYOTA/HINO ●CHERY ●GEELY ●OTHER ※MY：Minor Change Model Year Especially in China, 7 new-models and 4 model-changes were launched
Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales売りの Power力 Monozukuriモノづくり力Capability governance 15/53 GT2020 Progress China Production: New Models
Zhengzhou Nissan Ruiqi６ Seat
Start of Production: July, 2018 Production Site: Zhengzhou Taixin Interior Co., Ltd.
1. Adoption of a regional optimum /budget frame, which is a front seat frame (TTK) for Global model NAVARA with local mechanical parts 2. Realization of the seating comfort equivalent to that of the original seat of NAVARA, by adopting the same styling Dongfeng Nissan X-TRAIL Seat
Start of Production: May, 2018 Production Site: TACHI-S Lear DFM Automotive Seating (Xiangyang) Co., Ltd. 1. Adoption of a rear back frame, which was developed as close as possible to Nissan’s concept of common rear seat frame 2. Leisurely and relaxing rear seats with fulfilling equipment such as large armrest, headrest for three people, and ISOFIX anchorage
Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales売りの Power力 Monozukuriモノづくり力Capability governance 16/53 GT2020 Establishment of New Production Company Progress (Changsha, China) Aiming for further business expansion, Hunan TACHI-S has started its operation with production for GAC Mistubishi. 【Company Name】 ＞ Go to News Release Hunan TACHI-S Automotive Seating Co.,Ltd. (Changsha, Hunan)
【Equity participation】 TACHI-S China Co., Ltd. (51%) / Hunan Changfeng Automobile SOFA Co.,Ltd. (49%)
Japan(TTMC) Advanced Zhengzhou Prototyping/Testing Center Development
Hunan TACHI-S Zhejiang Changsha FRM Development Mechanism Parts Development R&D Localization TACHI-S has the R&D function and Guangzhou Production Preparation system that R&D/Administration Production Engineering satisfies customer’s requirements
Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales売りの Power力 Monozukuriモノづくり力Capability governance 17/53 GT2020 Progress AUTO SHANGHAI 2019 TACHI-S attended Motor Show in China for the first time, and showed a strong presence as a manufacturer specialized in car seats. Press briefing: 15 companies published articles and 42 companies distributed news about TACHI-S. (as of April 22) Press Day: April 16∼17, Exhibition Date: April 18~25
Concept X-4 Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales売りの Power力 Monozukuriモノづくり力Capability governance 18/53 GT2020 New Customer Development Progress (Latin America) Seat production business from a new customer TACHI-S Brasil Curitiba Second Plant was established
Trim cover sewing business from a new customer TACHI-S Mexico Zacatecas Plant
Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 19/53 GT2020 Strengthening/Expanding Progress Monozukuri capability EV special seat development business from a new customer in USA Designing and Prototyping/Testing will be conducted by TACHI-S Engineering U.S.A. (They are continuously working to get order for production business)
Operation of sled machine (collision testing machine) started in Chinese testing center TACHI-S Engineering Zhengzhou Co., Ltd. (The 3rd sled machine introduced to our group companies following Japan and Mexico.)
Strengthen corporate Global Business Expansion Sales Power Monozukuriモノづくり力Capability governance 20/53 GT2020 Progress Evolving/Deepening Frame Business TACHI-S has been and will be strengthening the development capability, improving the processing technology, and reinforcing the supply structure through collaboration with other companies 2005 2010 2015 2020 2025
TTK1 2012~ ・Improve performance against whiplash/side impact, Pursue lighter frame/cost reduction ・Adopt new mechanism, Unify PWR&MNL structure
TTK2 2016~ ・Adopt new process method/new mechanism ・Reduce weight with new material TTK1 ・Cost reduction
TTK2 Modify 2020~ ・Adopt laser welding (LW) ・Improve mechanism parts TTK2 ・Further cost reduction
TTK-X 2022~
TTK2 modify Next Generation Front frame
In-house Laser welding manufacturing process TTK-X
Strengthen corporate Global Business Expansion Sales Power Monozukuriモノづくり力Capability governance 21/53 GT2020 Progress Enhancing Sewing Business Trim Cover Engineering Dept. was launched in April 2019 to provide the sewing technology established through joint activities with NuiTec to global sites ＜ Global sewing technology＞ Trim Cover Engineering Department
TACHI-S NuiTec sewing technology unite sewing technology
Mexico China China ASEAN Japan Sewing Sewing Sewing Sewing subsidiary subsidiary 1 subsidiary 2 subsidiary NuiTec
As the core plant of sewing technology, NuiTec is going to roll out manufacturing quality/control system to group companies
Quilting Leather W stitch Rikifu curving stitch Original guide
Strengthen corporate Global Business Expansion Sales Power Monozukuriモノづくり力Capability governance 22/53 GT2020 Progress Enhancing Sewing Business (Mexico)
Trim cover lamination equipment was introduced, and it enabled the plant to conduct lamination process in-house TACHI-S Mexico Calvillo Plant
Strengthen corporate Global Business Expansion Sales Power Monozukuriモノづくり力Capability governance 23/53 GT2020 Achieve synergy effects Progress with Toyota Boshoku in Monozukuri
To mutually use both companies’ knowledge, know-how and business
resources with a view to strengthening the competitiveness in a more urpose
P timely manner
1. Mutual supply of existing parts 2. Development study of new parts
Contents 3. Mutual utilization of production sites and facilities
1. Sales expansion activities by mutual supply of device products 2. Joint development of products (manual slide rails) 3. Production preparation through mutual utilization of production
Progress sites/equipment (Trim cover sewing plants in China and Mexico)
TACHI-S China plants
TACHI-S Mexico plants
Strengthen corporate Global Business Expansion Sales Power Monozukuriモノづくり力Capability governance 24/53 TOPICS Customer Award TACHI-S received Supplier Award “Development Award” from Honda Motor Co., Ltd. Honda N-VAN seat（Driver seat/Passenger seat） TACHI-S took part in idea creation activities in the laboratory from the spec concept phase ⇒ Contributed to the creation of flat space from the luggage room to the passenger seat
＞ Go to News Release
Strengthen corporate Global Business Expansion Sales Power Monozukuriモノづくり力Capability governance 25/53 TOPICS Customer Award
TACHI-S won it’s the first No.1 seat quality award at USA market research* by J.D. Power
MITSUBISHI Outlander Sports HONDA CLARITY (Japanese version of RVR) Production sites: Musashi Plant (Japan） Production sites: Aichi Plant (Japan) Mass Market Mass Market Compact SUV/MPV Midsize/Large Car segment segment No.1 No.1 (among 27 target models) (among 20 target models)
* J.D. Power 2018 U.S. Seat Quality and Satisfaction Study ＞ Go to News Release Outcomes from our team efforts for quality improvement From NISSAN From HONDA
Zhengzhou Dongfeng Lear Taixin Automotive Wuhan TACHI-S Adient SETEX Automotive Mexico, Seating Co., Ltd. (China) ＜2 consecutive years＞ Automotive Seat Co., Ltd. (China) S. A. de C. V. (Mexico) Strengthen corporate Global Business Expansion Sales Power Monozukuriモノづくり力Capability governance 26/53 TOPICS CSR Activities
Social value establishment through products To realize a society without traffic accidents, TACHI-S has jointly developed "InfoSeat" with Clarion Co., Ltd. ■ Outline of “InfoSeat” ・ By focusing on the driver’s “awareness”, an effective driving support system that uses not only sound but also vibration has been developed. ・ The built-in speaker, microphone or vibration unit efficiently supports voice communication with the driver, or the driver’s awareness through tactile prompts. TACHI-S won Gold Award in the IAUD
International Design Award 2018 ＞ Go to News Release
Environmental Promotion of product development for next-generation vehicles, initiatives including contributions to top-class fuel efficiency Promotion of easy disassembly and recyclable designs, and managing the target based on product life cycle
Knowledge and system of internal evaluation that support our With our customers Monozukuri centering around product safety, and activities of quality control and quality assurance Structure and initiatives to manage customer relationship (Front loading activities, Advanced SE activities, etc.)
Strengthen corporate Global Business Expansion Sales Power Monozukuriモノづくり力Capability governance 27/53 Contents
FY2018 Financial Result
Global Teamwork 2020
FY2019 Financial Forecast
Capital Expenditures
Dividend
28/53 FY2019 Financial Forecast FY2019 Financial Forecast (Consolidated)
(Unit: billion yen) vs. previous year (Amounts are rounded down)
2019/03 2020/03(forecast) Change Change(%) Net Sales 300.5 300.0 -0.5 -0.2 Operating Income 5.4 6.3 +0.8 +16.4 Ordinary Income 7.0 8.1 +1.0 +14.9 Net Income* 1.9 3.6 +1.6 +84.5
300.5 300.0
19/03 20/03 (forecast) 8.1 6.3 7.0 5.4 3.6 1.9
Net Sales Operating Income Ordinary Income Net Income*
* Net income attributable to TACHI-S CO., LTD. 29/53 FY2019 Analysis of Increase / Decrease Financial Forecast (Consolidated) (Unit: billion yen) vs. previous year Net Sales (Amounts are rounded down)
300.5 300.0 Region Change Change(%)
126.4 Japan -7.9 -5.9％
47.3 North America -2.9 -5.9％
67.4 Latin America +11.7 +21.0％
3.1 Europe +0.0 + 2.4％
52.1 China -0.3 -0.7％
3.3 Southeast Asia -1.0 -23.6％
19/03 20/03 Exchange 19/03 USD=¥110.67 RMB=¥16.74 (forecast) Rate 20/03 USD=¥111.00 RMB=¥16.50 30/53 FY2019 Analysis of Increase / Decrease Financial Forecast (Consolidated) (Unit: billion yen） vs. previous year Operating Income (Amounts are rounded down)
6.3 Region Change 5.4 1.8 Japan +1.0
1.2 Latin America +2.6
4.6 China -1.5
-1.1 North America -0.7 -0.1 Europe -0.1 -0.1 Southeast Asia -0.3 19/03 20/03 (forecast)
31/53 FY2019 Analysis of Increase / Decrease Financial Forecast (Consolidated) (Unit: billion yen） vs. previous year Net Income* (Amounts are rounded down)
3.6 Region Change
0.8 Japan +0.9
0.5 Latin America +3.5 1.9 2.1 China -1.3
0.0 Europe ＋0.0 Equity method 1.3 -0.3 affiliates -1.2 North America -0.4 -0.1 Southeast Asia -0.7 19/03 20/03 (forecast)
* Net income attributable to TACHI-S CO., LTD. 32/53 Contents
FY2018 Financial Result
Global Teamwork 2020
FY2019 Financial Forecast
Capital Expenditures
Dividend
33/53 Capital Capital Expenditures, R&D and Expenditures Depreciation cost (consolidated)
(Unit: billion yen） Capital Expenditures & Depreciation 10 Capital Expenditures 11.9 Depreciation
7.2
5 60 5.2 5.6 5.2 5.9 5.1 5.0 4.6 4.1
0 16/03 17/03 18/03 19/03 20/03 （forecast）
(Unit: billion yen） R & D 5 4.6 4.5 4.2 4.1 4.4 2.5
0 16/03 17/03 18/03 19/03 20/03 （forecast） 34/53 Contents
FY2018 Financial Result
Global Teamwork 2020
FY2019 Financial Forecast
Capital Expenditures
Dividend
35/53 Dividend Dividend Policy
TACHI-S changed its Dividend Policy in March, 2018
TACHI-S has long believed that returning profits by improving corporate value is an important management issue, and has made stable dividend payments under the current dividend policy. We have decided to shift to a more proactive dividend policy that sets new goals for dividend payout ratios with the aim of clarifying our stance on returning profits, and will strive to further strengthen our management foundation.
Dividend Policy We believe that providing returns through ongoing improvements to corporate value is an important management issue, and have adopted a basic policy of maintaining stable dividends while at the same time augmenting shareholders’ equity and improving profitability. We primarily utilizes internal capital reserves for R&D and global business development, and endeavors to secure profit in the medium to long term and strengthen its financial structure. In the near term, we will gradually raise its dividend payout ratio, taking into account earnings, financial conditions, and the management environment in a comprehensive way, and has set a target of an approximately 20% dividend payout ratio in the medium term, on the premise that annual dividends per shareholder do not fall short of dividends in the previous year. The Board of Directors decided to stipulate in the Articles of Incorporation that we can use retained earnings for dividends. We has set a basic policy of paying two dividends a year, namely an interim dividend and a year-end dividend.
36/53 Dividend Cash Dividend
Basic policy : Stable dividends on a long term basis and raise dividend payout ratio
（Yen per share） 26yen 26 25yen commemorative dividend 24 Dividends were kept at 16 yen per share as 22 ordinary dividends Year-end 13 yen 21yen ordinary dividends Dividends were kept at 20 14 yen per share as 19yen ordinary dividends 18 16yen 16 14yen 14
Interim 13 yen ordinary dividends 12yen commemorative dividend 1yen
13/03 14/03 15/03 16/03 17/03 18/03 19/03 20/03 37/53 Dividend Acquisition and Cancellation of Treasury Stock
TACHI-S acquired treasury stock in February 2019 and cancelled it in March 2019
To implement flexible capital policy in response to changes in the management environment, at the meeting of the Board of Directors held on February 14, 2019, TACHI-S CO., LTD. (“The Company”) resolved on the purchase of treasury stock and the specific method of purchase in accordance with articles of incorporation based on Article 459, Paragraph 1 of the Corporation Act. ◆Total number of shares purchased: up to 1,000,000 shares (2.8% of the total number of issued shares as of September 30, 2018, excluding treasury shares) Also, at the meeting of the Board of Directors held on March 21, 2019, The Company resolved on the cancellation of a portion of its treasury stock, pursuant to Article 178 of the Corporation Act, as outlined below. ◆Total number of shares cancelled: 1,200,000 shares (3.29% of the total number of shares before the cancellation) ◆Date of the cancellation: March 29, 2019
38/53 New regime/Organizational operation
■ Organization (outline)
Board of Directors
Representative Director, Chairman* & CEO Taro Nakayama Planning Mid and long term management strategy Executive Officer CEO & COO Meeting
Division Manager Representative Director, President* & COO Yuichiro Yamamoto
R&D Production Corporate Regional Headquarters Corporate Business and and Purchasing Planning for Japan Management Division Technology Technology Division Office for Americas Division for China Division Division Management Audit Office Quality Assurance Dept
* It will be officially decided at the Annual General Meeting of Shareholders and the Board of Directors scheduled to be held on June 25, 2019 39/53 Appendix
40/53 Appendix Exchange Rate
(Unit: yen）
16/03 17/03 18/03 19/03 20/03(予)
USD 120.78 108.76 111.19 110.67 111.00
MXN 7.69 5.95 5.94 5.76 5.90
EUR 132.75 119.34 129.36 128.75 125.00
RMB 19.28 16.54 16.59 16.74 16.50
41/53 Appendix Net Sales by Customer (Consolidated)
(Unit: billion yen）
Honda Nissan Toyota Mitsubishi Other
113.9 96.5 46.1 13.2 20/03 30.0 300.0 (forecast) 38% 32% 10% 15% 4%
117.9 102.5 31.8 36.9 11.3 19/03 300.5 39% 34% 11% 12% 4%
125.5 98.7 29.0 28.8 13.3 18/03 295.4 42% 33% 10% 10% 5%
121.3 95.7 27.2 27.410.6 17/03 282.5 43% 34% 10% 10% 4%
115.5 99.9 26.9 27.2 13.9 16/03 283.6 41% 35% 9% 10% 5%
0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 42/53 Appendix Net Sales by Region (Consolidated)
(Unit: billion yen）
Japan North America Latin America China Europe Southeast Asia Europe 3.1
Southeast Asia 3.3 126.4 47.3 67.4 52.1 20/03 300.0 42% 16% 22% 17% (forecast) Europe 3.1 Southeast Asia 4.3 134.4 50.3 55.7 52.5 19/03 45% 17% 19% 17% 300.5
Europe 2.1
Southeast Asia 3.4 126.9 51.8 60.3 50.6 18/03 295.4 43% 18% 20% 17%
Europe 2.2
128.6 46.6 58.7 43.5 Southeast Asia 2.5 17/03 282.5 46% 17% 21% 16%
Europe 0.9 Southeast Asia 3.4 116.2 51.7 65.8 45.4 16/03 283.6 41% 18% 23% 16%
0 50 100 150 200 250 300 350 43/53 Appendix Operating Income by Region (Consolidated) (Unit: million yen）
Japan North America Latin America China Europe Southeast Asia
Europe -144
20/03 6,300 -1,154 1,882 1,272 4,627 (forecast) Southeast Asia -183 Southeast Asia 32
-371 19/03 5,412 -1,365 785 6,161 170
Southeast Asia 16
18/03 -1,228 1,066 816 1,967 6,026 8,663
Southeast Asia -49 Latin America 109
17/03 628 -349 5,753 8,859 2,768 109
Southeast Asia -0
16/03 -264 5,018 -603 776 1,150 542 6,883
-3,000 0 3,000 6,000 9,000 12,000
44/53 Appendix Ordinary Income by Region (Consolidated) (Unit: million yen）
Japan North America Latin America China Europe Southeast Asia
Southeast Asia -160
-507 Europe 62 20/03 2,199 1,006 5,500 8,100 (forecast)
Europe -4 681 Southeast Asia 355 19/03 -2,511 1,139 7,390 7,050
Southeast Asia 69
18/03 -1,201 1,709 1,929 2,430 6,999 11,935
Southeast Asia -48
17/03 3,968 2,006 141 6,659 -662 -388 12,337
Southeast Asia 61 16/03 -2,103 2,034 2,637 -662 5,785 7,752
-4000 0 4000 8000 12000 16000
45/53 Appendix Domestic Business Sites
As of the end of May 1, 2019
Business site Established Location Business Contents Major Customers
Head Office April, 1954 Akishima-shi, Tokyo Administration
Technical Sales, Purchasing, R&D, Production, Monozukuri April, 2012 Ome-shi, Tokyo Testing, Quality assurance etc.. Center
Technical Center August, 1999 Anjo-shi, Aichi Sales, Purchasing, R&D Aichi
Manufacturing of automotive TOYOTA, Mitsubishi, Aichi Plant April, 1977 Anjo-shi, Aichi seats and parts TOYOTA BOSHOKU
Manufacturing of automotive Musashi Plant January, 1980 Iruma-shi, Saitama HONDA seats and parts
Prototype Hino, TOYOTA BOSHOKU, Ome Plant April, 1969 Ome-shi, Tokyo Manufacturing of automotive UD Trucks, seats and parts TOYOTA MOTOR EAST JAPAN
Shimotsuke-shi, Manufacturing of automotive Tochigi Plant February, 1982 NISSAN, NHK Spring, Hino Tochigi seats and parts
Hiratsuka-shi, Manufacturing of automotive Hiratsuka Plant July, 1982 NISSAN SHATAI Kanagawa seats and parts
Suzuka Plant October, 1984 Suzuka-shi, Mie Manufacturing of automotive seats HONDA
46/53 Appendix TACHI-S Group Companies (Japan)
Equity Company Established Location Business Contents Capital Major Customers Scope of participation consolidation
50 May, Kosai-shi, R&D/manufacturing/sales TACHI-S, ADIENT, TF-METAL Co., Ltd. 100.0％ million 2017 Shizuoka of automotive seat parts SUZUKI 1 yen
Hamura- 325 TACHI-S, Nui Tec July, Manufacturing of shi, automotive seats and 100.0％ million TOYOTA BOSHOKU 1985 1 Corporation Tokyo trim covers yen TOHOKU
TACHI-S, Akishima- Manufacturing/sales of 40 TF-METAL and TACHI-S H&P January, shi, springs, automotive seat 100.0% million other non 2018 1 Co., Ltd. Tokyo parts and medical beds yen automotive manufacturers
Miyako- 100 Kinryo Kogyo February, Manufacturing/sales of gun, 25.0% million TACHI-S, ADIENT 1976 automotive seats and parts 2 Co.,Ltd. Fukuoka yen
15 Iwata Fuji Kiko October, Iwata-shi, Manufacturing/sales of TF-METAL, (100.0％) million 1986 Shizuoka automotive seat parts NHK Spring 1 Co., Ltd. yen
10 Kyushu Fuji Kiko July, Nakatsu- Manufacturing/sales of TF-METAL, (100.0％) million 1985 shi, Oita automotive seat parts FujiKiko 1 Co., Ltd. yen
10 Higashi mikawa October, Shinshiro- Manufacturing of (100.0％) TF-METAL 1986 shi, Aichi automotive seat parts million 1 Fuji Kiko Co., Ltd. yen
3. Unconsolidated subsidiary TACHI-S Service Co., Ltd.
1. Consolidated 2. Consolidated 3. Unconsolidated 6 Companies 1 Company 1 Company subsidiary affiliate subsidiary 47/53 Appendix TACHI-S Group Companies (North America)
Equity Company Established Location Business Contents Capital Major Customers Scope of participation consolidation
TACHI-S Sales/R&D/business July, Michigan, 43 million Engineering administration 100.0% 1986 U.S.A USD 1 U.S.A., Inc. in North America
TF-METAL Business July, Michigan, 0 million Americas administration/R&D *(100.0%) 2000 U.S.A USD 1 Corporation in Americas
September, Ohio, Manufacturing/sales of 5 million HONDA (USA), SETEX, Inc. *(51.0%) 1987 U.S.A automotive seats USD ADIENT 1
TACHI-S Automotive December, Tennessee, Manufacturing/sales of 22 million *(100.0%) NISSAN (USA) Seating 2005 USA automotive seats USD 1 U.S.A., LLC
Major automotive seat Manufacturing/sales of TechnoTrim, November, Michigan, 120 thousand manufacturers in North automotive seat trim *(49.0%) 1986 USD America including 2 Inc. U.S.A parts TACHI-S group companies
TF-METAL March, Kentucky, Manufacturing/sales of 10 million TAS-USA, U.S.A., *(100.0%) 2004 U.S.A automotive seat parts USD TACHI-S Mexico, ADIENT 1 LLC
Nova TACHI-S September, Business administration 12 million Scotia, *(100.0%) 2004 in Canada CAD 1 Canada, Ltd. Canada
1. Consolidated 2. Consolidated *（including subsidiaries’ equity） 6 Companies 1 Company subsidiary affiliate 48/53 Appendix TACHI-S Group Companies (Latin America / Europe)
Equity Scope of Company Established Location Business Contents Capital Major Customers participation consolidation
TACHI-S R&D/business Engineering May, Aguascalientes, 129 million administration *(100.0%) 2012 Mexico USD 1 Latin America, in Latin America S. A. de C. V.
Industria de Manufacturing/sales of Asiento Superior, April, Aguascalientes, 26 million automotive seats and *(100.0%) NISSAN (Mexico) 1 S.A. de C.V. 1991 Mexico seat parts USD (TACHI-S Mexico)
SETEX Automotive September, Guanajuato, Manufacturing/sales of 24 million *(95.0%) HONDA (Mexico) Mexico, S. A. 2012 Mexico automotive seats USD 1 de C. V.
TACHI-S Mexico, TF-METAL Mexico, September, Aguascalientes, Manufacturing/sales of 371 million *(100.0%) Fuji Autotech U.S.A., 2012 Mexico automotive seat parts MXN 1 S.A. de C.V. Faurecia
TACHI-S Brasil Industria de August, Rio de Janeiro, Manufacturing/sales of 75 million Assentos *(100.0%) NISSAN (Brazil) 2012 Brazil automotive seats USD 1 Automotivos Ltda.
TACHI-S Sales/R&D in Europe, October, Meudon-La-Forêt, 23 million ADIENT, Magna, Engineering manufacturing/sales of 100.0% 2004 France EUR NISSAN (Spain) 1 Europe S.A.R.L. automotive seat parts
1. Consolidated *（including subsidiaries’ equity） 6 Companies subsidiary 49/53 Appendix TACHI-S Group Companies (China-1)
Equity Scope of Company Established Location Business Contents Capital Major Customers participation consolidation
TACHI-S China October, Guangdong, Sales/R&D/business 259 million 100.0% Co., Ltd. 2011 China administration in China RMB 1
TACHI-S Engineering December, Henan, 75 million R&D in China *(100.0%) Zhengzhou Co., Ltd. 2015 China RMB 3
Wuhan TACHI-S Adient June, Hubei, Manufacturing/sales of 43 million 70.0% Dongfeng HONDA Automotive Seat 2008 China automotive seats RMB 1 Co., Ltd.
TACLE Guangzhou November, Guangdong, Manufacturing/sales of 66 million Automotive Seat 51.0% Dongfeng NISSAN 2004 China automotive seats RMB 1 Co., Ltd.
Hunan TACHI-S July, Hunan, Manufacturing/sales of 40 million GAC Mitsubishi Automotive Seating *(51.0%) 2012 China automotive seats RMB Motors 3 Co., Ltd.
TACHI-S Lear DFM July, Hubei, Manufacturing/sales of 30 million Automotive Seating *(51.0%) Dongfeng NISSAN 2013 China automotive seats RMB 1 (Xiangyang) Co., Ltd.
Zhengzhou Taixin July, Henan, Manufacturing/sales of 11 million Chery Automobile, 50.0% Interior Co., Ltd. 2001 China automotive seats RMB Zhengzhou NISSAN 2
*（including subsidiaries’ equity） The company made an equity participation in March, 2019 1. Consolidated 2. Consolidated 3. Unconsolidated 4 Companies 1 Company 2 Companies subsidiary affiliate subsidiary 50/53 Appendix TACHI-S Group Companies (China-2)
Equity Company Established Location Business Contents Capital Major Customers Scope of participation consolidation
Lear DFM TACHI-S August, Liaoning, Manufacturing/sales of 50 million Automotive Seating *(49.0%) Dongfeng NISSAN 2013 China automotive seats RMB 2 (Dalian) Co., Ltd.
Zhejiang Gee Ju Tai October, Zhejiang, Manufacturing/sales of 38 million Zhejiang Vision Automotive Interior 40.0% 2010 China automotive seats RMB Auto Parts 4 Co., Ltd.
Manufacturing/sales of TACHI-S Trim September, Guangdong, 38 million TACHI-S, automotive seat 100.0% 2005 China RMB TACLE Guangzhou 1 Guangzhou Co., Ltd. trim parts
Manufacturing/sales of Wuhan TACHI-S, TACHI-S Trim Wuhan October, Hubei, 35 million automotive seat *(100.0%) Lear DLT TACHI-S 2013 China RMB 1 Co., Ltd. trim parts (Xiangyang)
Zhejiang Gee Ju Tai, Zhejiang TACHI-S Manufacturing/sales of January, Zhejiang, 142 million TACHI-S, Automotive Parts automotive seat *(100.0%) 2012 China RMB TSE-E, 1 frame parts Co., Ltd. TAS-USA
Fuji Autotech January, Guangdong, Manufacturing/sales of 40 million TACLE Guangzhou, *(85.0%) Guangzhou Co., Ltd. 2005 China automotive seat parts RMB TF-METAL 1
Zhejiang Fu Chong Tai Zhejiang TACHI-S, March, Zhejiang, Manufacturing/sales of 109million Automotive Parts *(60.0%) TSE-E, 2011 China automotive seat parts RMB 1 Co., Ltd. TAS-Thailand
*（including subsidiaries’ equity） 1. Consolidated 2. Consolidated 4. Unconsolidated 5 Companies 1 Company 1 Company subsidiary affiliate affiliate 51/53 Appendix TACHI-S Group Companies (Southeast Asia)
Equity Company Established Location Business Contents Capital Major Customers Scope of participation consolidation
Business administration TACHI-S （Thailand） September, Bangkok, 771 million in Southeast Asia 100.0% 2011 Thailand THB 1 Co., Ltd. and India
TACHI-S Automotive Manufacturing/sales of April, Bangkok, 153 million NISSAN Seating （Thailand） automotive seats and 100.0% 2010 Thailand THB (Thailand) 1 Co., Ltd. seat parts
PT.TACHI-S September, Jawa Barat, Manufacturing/sales of 140,602 million *(100.0%) Indonesia 2011 Indonesia automotive seats IDR 1
TACHI-S January, Ho Chi Minh, 31,026 million Engineering R&D in Vietnam 100.0% 2013 Vietnam VND 2 Vietnam Co., Ltd.
APM TACHI-S Tan Chong November, Da Nang, Manufacturing/sales of 56,567 million Industrial Seating Systems *(51.0%) 2016 Vietnam automotive seats VND Equipment 2 Vietnam Co., Ltd. Vietnam
APM TACHI-S Tan Chong February, Selangor, Manufacturing/sales of 10 million Motor Assemblies, Seating *(49.0%) 2013 Malaysia automotive seats MYR Mitsubishi 4 Systems Sdn. Bhd. (Malaysia)
*（including subsidiaries’ equity）
1. Consolidated 2. Unconsolidated 4. Unconsolidated 3 Companies 2 Companies 1 Company subsidiary subsidiary affiliate 52/53 Toward ‘Continuously Selected Company’ Global Seat System Creator
Cautionary Statement
This document contains certain forward-looking statements based on the information available and obtained by TACHI-S Co., Ltd. Such forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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