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Annual Report 2018 Year Ended March 31, 2018 Government Policies; and Political Instability in Principal Markets

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Annual Report 2018 Year Ended March 31, 2018 Government Policies; and Political Instability in Principal Markets Contents 1 What is KYB? 4 Ten-Years Summary 6 To Our Shareholders and Investors 10 Corporate Governance 13 Management 14 Risk Information 16 Financial Review 18 Financial Statements 24 KYB in Globe 26 Corporate Information 27 Shareholder Information Forward-Looking Statements This annual report contains forward-looking statements, including KYB’s plans and strategies, as well as statements that report historical results. Forward-looking statements involve such known and unknown risks KYB Corporation and uncertainties as economic conditions; currency exchange rates; laws, regulations, and Annual Report 2018 Year Ended March 31, 2018 government policies; and political instability in principal markets. KYB Corporation Annual Report 2018 What is KYB? KYB in Everyday Living At a Glance Aircraft Components As a pioneer in hydraulic technology, KYB is active in a wide range of fields, including automobiles, motorcycles, construction machinery, railroad cars, aircraft, special-purpose vehicles, seismic isolation systems, vibration control dampers, and marine equipment. By developing advanced products that combine hydraulics with vibration control, power control, and Agricultural Machinery systemization technology, KYB has earned the trust of customers around the world. We aim to continue Railroad Equipment earning customer and stakeholder support with our relentless drive to create the technologies and products of tomorrow. Building Equipment Vibration Special-purpose Vehicles Control Technology Construction Machinery Automotive Components Automobiles Motorcycles Railroad Equipment Aircraft Components Motorcycle Components Power Control Technology Marine Equipment Construction Machinery Industrial Vehicles Special-purpose Vehicles Vibration Control Dampers Segment Sales Breakdown by Segment Automotive Shock absorbers for automobiles Shock absorbers (OE, aftermarket) Components Agricultural Machinery Industrial Machinery (AC) Operations Shock absorbers for motorcycles Front folk, Rear cushion units Steer-by-wire Vane Pumps for CVT DLC Coated Front Fork Hydraulic equipment for automobiles Vane pumps, Power steering systems, Vane Pumps for CVT, EPS Shock Absorbers Others Stay damper, Shock Absorbers for ATVs (All Terrain Vehicle) Rear Cushion Units Shock Absorbers for Snowmobiles Building and Stage Equipment Marine Components Hydraulic Hydraulic equipment for industrial use Cylinders, Valves, Pumps, Motors, MMP, HSTT Components (HC) Operations Others Dampers for railroad cars, Brakes for railroad cars, Seals Hydraulic Valves Semi-active Suspension Integrated HST Systems for Bullet Train Cars (pump and motor) Electronic Hydraulic Cylinders Control Technology Gear Pump Caliper Brakes Mobile Communication Device High-Performance EPS Special-purpose Special-purpose vehicles Concrete mixer trucks Vehicles, Aircraft Components, Hydraulic equipment for aircraft Actuators, Valves, Wheels, Brakes Actuators Vibration Control Devices Movable Floors with System Products Variable Seating and Electronics Vibration control dampers, Auditorium and stage control Components System products and electronic Business components, etc. systems, ECU, Mobile communication devices Concrete Mixer Trucks Vibration Control Dampers Mobile Communication Device 3 1 KYB Corporation Annual Report 2018 What is KYB? History FY2017 Highlights 2003 Automobile shock absorber manufacturing subsidiary was estab- Establishment Beginning hydraulic technology with the buff- lished in the Czech Republic Highlights of the year Phase ered hydraulic strut for aircraft (Oleo) Urawa plant was closed and operations were merged into the Sagami 1919 Kayaba Research Center was founded by Shiro Kayaba. plant. 1927 Kayaba Seisakusho was established for manufacturing of hydraulic 2004 Industrial-use hydraulic equipment manufacturing subsidiary was Profit Attributable to Owners Net Sales Segment Profit dampers, catapults, etc. for aircraft. established in China. of the Parent 1935 Kayaba Manufacturing Co., Ltd., was established. Stock acquisition in KYB Trondule Co., Ltd., which became a subsidiary. 1943 Gifu works (presently Gifu South Plant) was established. Systems Products segment split from the Company, and new company Kayaba System Machinery Co., Ltd. was established. ¥392.4 billion ¥21.6 billion ¥15.2 billion Sales office is established in China and in Mexico. Reconstruction Post-WWII reconstruction and building the phase foundation for growth Increased 10.4%, or Increased 16.0%, or Increased 4.5%, or Reform phase Building a strong management system 1948 Kayaba Industry Co., Ltd., was established (based on the Corporate ¥37.1 billion ¥3.0 billion ¥0.7 billion Reconstruction and Reorganization Act). 1956 Kayaba Auto Service Co., Ltd. (presently KYB Engineering and Service 2005 Sales office is established in Thailand. Co., Ltd.), was established. “KYB” was assumed to be an alias name of the Company. 1959 The Company’s stocks were listed on the Tokyo Stock Exchange 2006 Stock acquisition in Takako Industries, Inc., which became a subsidiary. 1961 Urawa special purpose vehicle works was established. 2008 Gifu East Plant was established. Joint ventures for manufacturing and sales of railroad equipment and Overseas Sales Ratio ROE Dividend motorcycle suspensions established in China. Expansion Strengthening the organization, expanding Automobile shock absorber manufacturing and sales company estab- phase performance lished in Spain 54.5% 8.8% ¥150 2009 European Regional Headquarters established in Germany 1968 Gifu North Branch Plant (presently Gifu North Plant) was established. 2010 Regional Headquarters established in China 1970 Capital participation in Yung Hwa Machinery Industrial Co., Ltd., in 2011 Aftermarket hydraulic shock absorbers sales company established in Taiwan. Increased 1.0% Decreased 0.5% Panama. 1971 Kumagaya Plant and Mie Plant was established. Yanagisawa Seiki MFG CO., LTD., became a wholly owned subsidiary. 1974 Sales subsidiary was established in the United States Trade name changed to KYB-YS CO., LTD. 1975 Sagami Plant was established. Operations started at Developmental Experiment Center, an exclusive 1976 Shock absorber production joint venture was established in Indonesia. test tracks for automobile and motorcycle components. 1977 Nippon Power Steering Co., Ltd., was established. Machine Tools Center established in Japan 1980 Deming Application Prize was awarded for TQC activities. Topics of the year 2012 Electronics Technology Center established in Japan KYB Europe Headquarters B.V. established in the Netherlands Development Moving from Japan to overseas, further Aftermarket sales company established in Russia phase growth Hydraulic components manufacturing and sales company established in Mexico 1983 Shock absorber manufacturer in Spain was jointly acquired. Motorcycle hydraulic oil damper manufacturing and sales company Shock absorber production manufacturing joint venture was estab- established in India lished in Malaysia. 2013 Joint venture aftermarket automotive suspension spring manufactur- 1985 Company name “KYB” in Japanese changed from kanji (Chinese ing and sales company established in the Czech Republic characters) to katakana (Japanese Characters). Acquired shares in a concrete construction equipment maker in India Sponsorship Agreement with the FIA KYB Awarded Technical Division of the ASTRIC (Active Suspension System 1986 Shock absorber manufacturing subsidiary was established in the United and established subsidy World Rallycross Championship EKS New Corolla Sport Project Awards with Triple Control Modes) States. Hydraulic component manufacturing and sales company established 1989 Sales subsidiary was established in Germany. in Indonesia KYB Corporation has announced that it On June 7, 2018, KYB Corporation The is the latest model is the multi- 1996 Shock absorber manufacturing jointly venture was established in Established KYB Motorcycle Suspension Co., Ltd., for the manufac- has entered a sponsorship agreement received a Technical Division Award at mode active suspension system. It Thailand. ture and sale of motorcycle hydraulic shock absorbers with EKS on June 26, 2017. the New Corolla Sport Project Awards. automatically switches between fully Joint venture was established in Spain for manufacture of hydraulic Aftermarket sales company established in Brazil Through this agreement, KYB will The award was conferred for the shock active, passive, and semi-active modes components for automobiles. 2015 The trade name was changed to KYB Corporation. aim to increase awareness of the KYB absorber, which incorporates the based on input from the controller. Joint venture was established in Thailand for manufacture of hydraulic 2016 Established Aircraft Components Division, independent from HC brand and expand its sales promotions latest technology and was designed A sensor detects when the carriage components for automobiles. Operations. 1998 All plants obtained ISO 9001 certification KYB-CADAC Co., Ltd. merged with KYB-YS Co., Ltd. for electronic power steering (EPS) through KYB’s unique technological sways, and by greatly reducing 1999 Cadac Co., Ltd., became a wholly owned subsidiary KYB Hydraulics Industry (Zhenjiang) Ltd. merged with KYB Industrial used in motorsports. KYB will development. Toyota judged that this vibration, the system improves the 2001 All plants obtained ISO 14001 certification Machinery (Zhenjiang) Ltd. continue strengthening its support component has contributed greatly to ride feel. The suspension system is 2001 Shock absorber
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