FY2019 Financial Result
From April 1, 2019 through March 31, 2020
TACHI-S CO., LTD.
MITSUBISHI Outlander Sports May 25, 2020 Nissan Maxima (Japanese version of RVR) J.D. Power 2019 U.S. J.D. Power 2019 U.S. Seat Quality and Satisfaction Study℠ Seat Quality and Satisfaction Study℠ 1st place evaluation for 2 consecutive years 1st place evaluation Securities Code: 7239 (Tokyo/First Section) 1/57 We respectfully mourn those who have been lost to novel coronavirus, and express our deepest sympathies for all those who have suffered with this disease. We pray from our hearts for the quick recovery of those who have dealt with the coronavirus and for an early end to this outbreak. We would also like to convey our sincere gratitude and respect to all those medical practitioners working on the front lines to prevent the disease’s spread and for continuing their dedicated efforts. TACHI-S CO., LTD.
2/57 Response to the novel coronavirus
As we work to minimize the impact of the pandemic, our overseas risk management committees are taking the central role as the Company takes prompt countermeasures, with a priority on preventing the coronavirus’s spread and ensuring the safety of employees. We are working together with customers and business partners at all sites and maintaining and continuing with business activities, while responding to requests from central and local governments. 【Novel coronavirus countermeasures 】 Consolidation of all information in Japan and overseas
Central and local Japanese and Customers and WHO Group companies Employees governments foreign media business partners
Establish the Basic Policy on coronavirus countermeasures Identify and analyze risks ⇒ Decide on countermeasures and direct implementation
Employees’ safety and Business continuity response Contributions to local peace of mind community Safety management Production management Release Preventing infection and of ・ Enhance internal sanitation ・BCP response, establishment of head office spread Company ・Avoid the three Cs (closed for response ・Employees working from ’s Basic spaces, crowded places, close- home and staggering ・Confirm operations at manufacturing sites, work-start times Policy contact settings) inventory and distribution conditions (State Material support ・Cancel business trips and trips ・Ascertain supply chain and parts information ment) overseas ・Donation of supplies for ・Close collaboration with customers and preventing infection of ・Confirm safety of employees local community working overseas as well as in business partners Japan We will meet our corporate responsibilities and roles by warranting the trust placed in us by all stakeholders. 3/57 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
282.3 billion yen (Consolidated) Net Sales (Fiscal Year Ended March 31, 2020)
Number of Employees 13,750 (Consolidated) (As of March 31, 2020)
Stock Exchange Listing Tokyo / First Section (Securities Code : 7239)
Business Contents Manufacturing of automotive seats
4/57 Contents
FY2019 Financial Result
Global Teamwork 2020
FY2020 Financial Forecast
Capital Expenditures
Dividend
5/57 Contents
FY2019 Financial Result
Global Teamwork 2020
FY2020 Financial Forecast
Capital Expenditures
Dividend
6/57 FY2019 Financial Result FY2019 Financial Result (Consolidated)
(Unit: billion yen） vs. previous year (Amounts are rounded down)
2019/03 2020/03 Change Change(％)
Net Sales 300.5 282.3 -18.2 -6.1
Operating Income 5.4 -0.0 -5.4 －
Ordinary Income 7.0 1.0 -5.9 -84.7 Net Income* 1.9 -1.5 -3.5 －
300.5 282.3 7.0 5.4 19/03 20/03 1.9 1.0 -0.0 -1.5
Net Sales Operating Income Ordinary Income Net Income*
* Net income attributable to TACHI-S CO., LTD. 7/57 FY2019 Financial Result Summary of Financial Result
Japan North America Decrease in Sales Stagnation of sedan market
[Net Sales] -5.1％ [Net Sales] -13.4% (vs. previous year) (vs. previous year)
Overview
- Contribution from new model launch - Decrease in number of existing models sold
Latin America China Impact of flood in the previous fiscal year Decrease in Sales
[Net Sales] 3.4% [Net Sales] -8.1% (vs. previous year) (vs. previous year)
8/57 FY2019 Analysis of Increase / Decrease Financial Result (Consolidated) (Unit: billion yen） vs. previous year Net Sales (Amounts are rounded down) 300.5 282.3 Region Change Change(%)
127.5 Japan -6.8 -5.1％
43.5 North America -6.7 -13.4％
57.6 Latin America +1.8 +3.4％
1.6 Europe -1.4 -46.4％
48.2 China -4.2 -8.1％
3.5 Southeast Asia -0.8 -19.0％
19/03 20/03 Exchange 19/03 USD=¥110.67 RMB=¥16.74 Rate 20/03 USD=¥109.13 RMB=¥15.86 9/57 FY2019 Analysis of Increase / Decrease Financial Result (Consolidated) (Unit: billion yen） vs. previous year Operating Income (Amounts are rounded down) 5.4 Region Change -0.0 0.0 Europe 0.0
3.9 China -2.2
-0.3 Japan -1.1
-1.0 North America -0.6
-2.1 Latin America -0.8
-0.4 Southeast Asia -0.6 19/03 20/03 10/57 FY2019 Analysis of Increase / Decrease Financial Result (Consolidated) (Unit: billion yen） vs. previous year Net Income* (Amounts are rounded down)
-1.5 Region Change 0.0 Europe 0.0
1.9 1.9 China -1.5
1.1 Equity method affiliates -0.5
-0.1 Japan -0.1
-1.2 North America -0.4
-2.8 Latin America +0.1
-0.3 Southeast Asia -0.9 19/03 20/03 * Net income attributable to TACHI-S CO., LTD. 11/57 FY2019 Financial Result Earnings recovery in second half
(Unit: billion yen） vs. first half
2019 2019 Change Change(％) First half Second half Net Sales 144.6 137.6 -7.0 -4.8 Operating Income -1.7 1.7 3.4 － Ordinary Income -1.0 2.0 3.0 － Net Income* -1.8 0.2 2.1 －
144.6 137.6
First half Second half 1.7 2.0 -1.7 -1.0 -1.8 0.2
Net Sales Operating Income Ordinary Income Net Income*
* Net income attributable to TACHI-S CO., LTD. 12/57 FY2019 Financial Result Earnings recovery in second half
(Unit: billion yen） vs. first half Operating Income
1.7 Region Change
0.5 Japan +1.3
0.1 Latin America +2.5
China 2.1 +0.3
-1.7
-0.6 North America -0.3 -0.0 Europe -0.1
-0.4 Southeast Asia -0.3
2019 First half 2019 Second half 13/57 Contents
FY2019 Financial Result
Global Teamwork 2020
FY2020 Financial Forecast
Capital Expenditures
Dividend
14/57 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
15/57 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)
16/57 GT2020 Progress Number of cars produced globally When GT2020 was established in 2016, we predicted that the number of cars produced globally would increase, but in reality, the number has slowed since 2018, and we now expect the number to reach 100 million in 2025 rather than in 2019.
10,000 cars Forecast in 2016 Actual Forecast at present
Impact of novel coronavirus
Source: Vehicle Production Forecast by Region from LMC Automotive, April 2020 17/57 GT2020 Progress Global Teamwork 2020 – Earnings fluctuations -
As the number of cars produced globally declines, GT2020 affected
94.31 92.94 94.72 Number of cars million million 89.05 million units million produced units units globally units billion yen
Share: Sustained at 5%
Sales: Aligned with number cars produced globally
Operating profit rate: As the number of cars produced globally slows, we have continued to invest resources into expanding business and cultivating new customers, but at the same time, market cost demands have harshened, and the operating profit rate has fallen.
Strengthen corporate グローバルビジネスGlobal Business Expansion拡大 Sales売りの Power力 Monozukuriモノづくり力Capability governance 18/57 GT2020 Summary of status of achievement of GT2020 (2016 - 2019) Progress
19/57 GT2020 Progress 1.Expanding the number of global bases Launched 7 new sites
TACHI-S Mexico TACHI-S ENGINEERING Aguas Trim 1 PLANT ZHENGZHOU CO.,LTD.
Scheduled launch site in FY 2020
Hunan Tachi-S Automotive LEAR DONGSHI TACHI-S Seating Co., Ltd AUTOMOTIVE SEATING TACHI-S Mexico (WUHAN) CO. LTD. Aguas Trim 2 PLANT
TF-METAL ZHEJIANG CO., LTD
ZHENGZHOU TAIZHIXIN TACHI-S Brasil APM TACHI-S Seating Automotive Seating Co.,Ltd Curitiba PLANT Systems Vietnam
Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 20/57 GT2020 2.Implementation of partnership strategy Progress Fuji Kiko’s seat component business was broken up and TF-METAL established (2017)
(1) Raise quality and cost competitiveness Took over three companies in Japan, three in (2) Improve speed with integrated management China and three in the Americas, for a total of nine companies (3) Improve proposal capacity with vertical integration
Seat Frame Frame parts press Seat Frame System Seat frame Objective development Welding and assembly Assembly production Integrated Mechanical parts response from Frame parts press welding and Developmen assembly production development to manufacturing Originally Fuji Kiko’s area of development and production
Business tie-up agreement with TOYOTA BOSHOKU (2017)
Strive to utilize one another’s knowledge, expertise and management resources Objective for our mutual benefit and improve competitiveness at a faster pace
1. Reciprocal supply of existing parts TOYOTA 2. Consideration of development of TACHI-S Operations BOSHOKU Tie-up new parts Details 3. Reciprocal use of production sites Tie-up Produc Product and facilities R&D R&D areas tion ion
Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 21/57 GT2020 Progress 3.Breaking into new customer business
New customers in US: development of seats for electric vehicles Response to event to prepare for production at TACHI-S Engineering U.S.A.
Existing customers in US: Orders for parts for electric vehicles Group works together to expand parts business ■TF-METAL ■TACHI-S Mexico ●Recliner unit * ●Headrests
*Mechanical parts for seat recliner
Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 22/57 GT2020 3.Breaking into new customer business Progress 4.Expansion of orders for parts
New customers start of orders and production for trim-cover sewing business
Start of mass production of trim covers Start of mass production of trim covers for TOYOTA BOSHOKU AMERICA for AKI Seat Manufacturing （TACHI-S Mexico Zacatecas PLANT) （TACHI-S Mexico Calvillo PLANT)
Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 23/57 GT2020 Progress 3.Breaking into new customer business
Company first start of production of seats for Renault (February 2020)
TACHI-S Brasil Curitiba PLANT Newly established
Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 24/57 GT2020 4.Expansion of parts business／ Progress 5.Evolution and deepening of frame design and construction method
Strengthen TACHI-S’s capacity to develop seat frames, processing technology and supply system
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 2023~ Next Generation TTK2 Modify Front frame ・Innovations with laser welding and assembly methods ・ Qualitative and quantitative cost TTK-X reductions
Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales Power Monozukuriモノづくり力Capability governance 25/57 GT2020 6.Strengthening the foundation of Monozukuri capabilities Progress - Evolution and deepening of construction methods -
Development of optimal process designs and of new construction methods
■AGV＊manufacturing method
＜Previous seat assembly method＞ ＜Seat assembly method using AGV＞
AGV Conveyer
＊AGV：Automatic Guided Vehicle
Raising production efficiency Improving flexibility of production system
Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales Power Monozukuriモノづくり力Capability governance 26/57 GT2020 6.Strengthening the foundation of Monozukuri capabilities Progress - Evolution and deepening of construction methods -
Development of optimal process designs and of new construction methods
■Automatic assembly ■Unmanned inspection using AI
Collaborative robot Collaborative robot
Improving production efficiency Stabilizing quality Addressing decline in working population
Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales Power Monozukuriモノづくり力Capability governance 27/57 GT2020 6.Strengthening the foundation of Monozukuri capabilities Progress - Sewing technology -
Higher global frontline strengths and cost competitiveness with sewing technology
Including NuiTec as the Group’s mother factory for sewing technology improves frontline strength and cost competitiveness Elevating to industry’s top level and sharing information about this manufacturing technology on global sites ＜Global sewing technology ＞
TACHI-S Trim Cover Engineering Department NuiTec(mother factory)
Guangzhou, Mexico Wuhan, China ASEAN China Japan Sewing Sewing Sewing Sewing Sewing NuiTec subsidiary subsidiary subsidiary subsidiary
Production method Wrinkle-free trim covers Low-cost trim covers Automation
Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales Power Monozukuriモノづくり力Capability governance 28/57 GT2020 Progress 7.CSR initiatives
Information on CSR activities was disclosed systematically from fiscal 2019 We began systematically disclosing information on our CSR activities.
We have published a report on our CSR/ESG activities on our website. This report provides information on the disclosure items in line with the global guidelines GRI 2016 and the Environmental Reporting Guidelines 2018 for each of the business processes, divided into activities for the nine items.
【our website】
Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales Power Monozukuriモノづくり力Capability governance 29/57 GT2020 Main activity results in FY 2019 Progress – New Models - 37 New Models/Minor Model Changes in FY2019 2019 2020 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jab Feb Mar Fairlady Z● GTR● Skyline● ●Skyline ●Clarity FCV ●Note(MY20) (MY20) (MY20) Coupe(MY20) Sedan(MY02) (MY20) ●NV200(MY20) Japan ●RVR(MY20) ●Dutro/Dyna (MY20) ●Outlander Freed● ●S660 ●Premio/Allion Clarity(MY19)● N-WGN● (MY20) Freed+(MY20) (MY20) (MY20) ●Honda e
●TLX (MY20) Limited Edition USA ●Maxima(MY20) ●MDX (MY20) ●Murano(MY20) Limited Edition ●Corolla ●CAOEM ●Kicks(MY20) (TRIM) (PIP H/R) Mexico ●Versa ●Mazda CX3 (TRIM) ●Sentra(USA/MEX) ●Duster Brasil
Qashqai● Emgrand EV● XR-V(MY19)● CIIMO XNV●●Kicks(MY20) (MY19) (MY19) Outlander● ●ASX(MY20) (MY20) ●Karry ● JETOUR China KX63 New Emgrand● ●New Emgrand RS ●Venucia ●Venucia ●Venucia (MY19) D60(EV) T60(MY19) T60(EV) (MY19)
ASEAN ●Outlander (MY20) (Vietnam) ● Nissan/Infiniti/Venucia/Renault ● Mitsubishi ● Honda/Acura ● Toyota/Hino ● Chery ● Geely ● Other Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 30/57 GT2020 Progress ’19 New Model Launch Start of delivery of electric vehicle seats for Honda
Start of mass production at the Musashi plant of “Honda e” (*for shipment to Europe)
Start of delivery of locally produced seats for Mitsubishi Motors Viet Nam
Start of mass production of “Outlander” seats at the Binh Duong plant
Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 31/57 GT2020 Progress ’19 New Model Launch
メキシコ日産自動車MexicoMexico NISSAN NISSAN向け VersaVersaVersa Seat Seat 用シート
Start of Production: June, 2019 Production Site: TACHI-S Mexico
1. Adoption of TTK frame based on KICS for the basic structure of front seat frame 2. Side air bag-equipped rear seats according to the market requirements
Chinese local car manufacturer SUV 2nd Seat
1. Captain seat concept to differentiate from Start of Production: May, 2019 similar models. Adoption of relaxing rear Production Site: Zhengzhou Taixin Interior seats Co., Ltd. 2. Realization of an inexpensive model through maximizing commonization with the same front seat frame
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 32/57 GT2020 ’19 Customer Award Progress –Praise from market and customers– TACHI-S won the No.1 seat quality award for consecutive 2 years at USA market research* by J.D. Power MITSUBISHI Outlander Sports NISSAN Maxima
※ 2 consecutive years Mass Market Mass Market Compact SUV/MPV Midsize/Large Car segment segment No.1 No.1 (among 30 target models) (among 19 target models)
* J.D. Power 2019 U.S. Seat Quality and Satisfaction Study Outcomes from our team efforts for quality improvement From NISSAN
TACHI-S Automotive Seating Zhengzhou Dongfeng Lear Taixin Lear DFM TACHI-S Automotive (Thailand) Co., Ltd.（ Thailand ） Automotive Seating Co., Ltd. (China) Seating (Dalian) Co., Ltd. (China) Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 33/57 GT2020 ’19 Customer Award Progress –Praise from market and customers–
We have won a “Development Award” and others from a range of customers
HINO Technology Development Award Honda Access “Development Award” “Grand Prize”
HINO DUTRO VEZEL Modulo X Elimination of urethane as a Development of dedicated seat, including countermeasure in mandated headrest changes to frame, for Honda Access for impact tests; designs with smaller the first time, and commitment to SOP headrests
NISSAN SHATAI “Letter of Appreciation for HONDA “Award for Leading Company” Development” TACHI-S H&P （group company）
Contributions Award received made to the for 10 straight ultra-rapid development of years products for ambulances (headlining, table lid)
Strengthen corporate Global Business Expansion Sales Power Monozukuri Capability governance 34/57 GT2020 Progress Management governance system in fiscal 2020
１）Corporate officer system Prompt decision-making on management issues by putting corporate officers on the same level Flattening the structure in this way reduced the number of corporate officers from 21 to 14. 2） Regional business headquarters system Management of regions in North, Central and South America is classified as North America and Central and South America Improving quality and speeding-up local decision-making
３）Promotion of TACHI-S Group management At the 2020 General Meeting of Shareholders the number of external directors will be increased by one to further strengthen the Group’s management system.
Strengthen corporate Globalグローバルビジネス Business Expansion拡大 Sales Power Monozukuriモノづくり力Capability governance 35/57 GT2020 Primary initiatives to address issues Progress (medium and long term)
The next medium- and long-term plan will be established in fiscal 2020, allowing proactive implementation of “innovations tailored to environmental changes" and "the pursuit of attractive values.”
Slowdown in number Long-term strategy of cars produced Auto industry globally DX operations and Response to advances major reforms Post- (CASE/MaaS) coronavirus
Next medium- and DX : Digital Transformation GT2020 long-term plan ◆ Innovations tailored to environmental changes ・Resource management (optimizing staff utilization and assignment) ・Reformulation/reallocation of business portfolio ・Participation in new business fields ・Corporate innovation through the promotion of workstyle reform ◆ Pursuit of attractive values ・Innovations to core systems in manufacturing ・Innovations with development/production utilizing IoT/AI ・Small investments and quick-delivery development through shared platforms
‘15 ’20 ’25 ’30 36/57 Contents
FY20192020 Financial年3月期の実績 Result
Global Teamwork 2020
FY20202021 Financial年3月期の見通し Forecast
Capital設備投資 Expenditures
Dividend配当政策
37/57 Contents
FY20192020 Financial年3月期の実績 Result
Global Teamwork 2020
FY20202021 Financial年3月期の見通し Forecast
Capital Expenditures
Dividend
38/57 Capital Capital Expenditures, R&D and Expenditures Depreciation cost (consolidated)
（ Unit: billion yen ） Capital Expenditures & Depreciation 10 Capital Expenditures Depreciation 6.9 6.7 5 5.2 5.6 5.2 5.9 5.0 4.6
0 17/03 18/03 19/03 20/03
（ Unit: billion yen ） R & D 5 5.5 4.6 4.1 4.5 2.5
0 17/03 18/03 19/03 20/03 39/57 Contents
FY20192020 Financial年3月期の実績 Result
Global Teamwork 2020
FY20202021 Financial年3月期の見通し Forecast
Capital設備投資 Expenditures
Dividend配当政策
40/57 Dividend Dividend Policy Our Dividend Policy
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. 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 that secure payout ratio equal or more than 20% 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.
41/57 Dividend Cash Dividend
Basic policy : Stable dividends on a long term （ Yen per share ） basis and raise dividend payout ratio 26yen 26 25yen commemorative dividend 記念 24
22 Dividends were kept at 21yen 16 yen per share as 20 ordinary dividends 19yen 18 記念 16yen 16yen 16yen 16
14
記念 12
記念 記念
14/03 15/03 16/03 17/03 18/03 19/03 20/03 42/57 Dividend Acquisition of Treasury shares
In March 2020, the Company acquired Treasury shares. At a board meeting held on March 9, 2020, the Company decided on the acquisition of Treasury shares and the specific acquisition method, based on stipulations in the Articles of Incorporation in line with regulations in Article 459, Clause 1 of the Companies Act.
◆Total number of shares acquired: 250,000 shares (maximum) (Percentage relative to total number of outstanding shares as of September 30, 2019 [excluding Treasury shares] is 0.72%) ◆Total acquisition amount: 221,750,000 yen ◆Acquisition date: March 10, 2020
43/57 32
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.
44/57 Appendix
45/57 Appendix Exchange Rate
（ Unit: yen ）
17/03 18/03 19/03 20/03
USD 108.76 111.19 109.18 109.13
MXN 5.95 5.94 5.73 5.65
EUR 119.34 129.36 122.00 121.27
RMB 16.54 16.59 16.31 15.86
46/57 Appendix Net Sales by Customer (Consolidated)
（ Unit: billion yen ） Honda Nissan Toyota Mitsubishi Other
110.6 85.4 35.5 41.8 8.7 20/03 282.3 39％ 30％ 13％ 15％ 3％
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 27.4 10.6 17/03 282.5 43% 34% 10% 10% 4%
0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 47/57 Appendix Net Sales by Region (Consolidated)
（ Unit: billion yen ）
Japan North America Latin America China Europe Southeast Asia
Europe 1.6 Southeast Asia 3.5
127.5 43.5 57.6 48.2 20/03 282.3 45％ 15％ 20％ 17％
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 43% 18% 20% 17% 295.4
Europe 2.2 Southeast Asia 2.5
128.6 46.6 58.7 43.5 17/03 282.5 46% 17% 21% 16%
0 50 100 150 200 250 300 350 48/57 Appendix Operating Income by Region (Consolidated)
（ Unit: million yen ） Japan North America Latin America China Europe Southeast Asia
Southeast Asia -456 Japan -366 Europe 65
20/03 -2,191 -1,021 3,941 -27
North America -371 Europe 32 Southeast Asia 170
19/03 -1,365 785 6,161 5,412
Southeast Asia 16
18/03 -1,228 1,066 816 1,967 6,026 8,663
Southeast Asia -49 Europe -349 Latin America 109
17/03 2,768 628 5,753 8,859
-264
-5,000 -3,000 -1,000 1,000 3,000 5,000 7,000 9,000 11,000
49/57 Appendix Ordinary Income by Region (Consolidated)
（ Unit: million yen ）
Japan North America Latin America China Europe Southeast Asia
North America -457 Southeast Asia -417 Japan 12 Europe 48
20/03 -3,047 4,942 1,080
Europe -4 Southeast Asia 355
19/03 -2,511 1,139 681 7,390 7,050
Southeast Asia 69
18/03 -1,201 1,709 1,929 2,430 6,999 11,935
Southeast Asia -48 Europe -388 Latin America 141
17/03 3,968 2,006 6,659 12,337
-4,000 -2,000 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 50/57 Appendix Domestic Business Sites
As of the end of March 31, 2020
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
February, Shimotsuke-shi, Manufacturing of automotive Tochigi Plant NISSAN, NHK Spring, Hino 1982 Tochigi seats and parts
Hiratsuka-shi, Manufacturing of automotive Hiratsuka Plant July, 1982 NISSAN SHATAI Kanagawa seats and parts
Manufacturing of automotive Suzuka Plant October, 1984 Suzuka-shi, Mie HONDA seats
51/57 Appendix TACHI-S Group Companies (Japan)
Equity Company Established Location Business Contents Capital Major Customers Scope of participation consolidation
50 Kosai-shi, R&D/manufacturing/sales TACHI-S, ADIENT, TF-METAL Co., Ltd. May, 2017 100.0％ million Shizuoka of automotive seat parts SUZUKI 1 yen
Nui Tec Hamura- Manufacturing of 325 TACHI-S, July, 1985 shi, automotive seats and 100.0％ million TOYOTA BOSHOKU 1 Corporation Tokyo trim covers yen TOHOKU
TACHI-S, TACHI-S H&P Akishima- Manufacturing/sales of 40 TF-METAL and April, 1961 shi, springs, automotive seat 100.0% million other non 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 Nakatsu- Manufacturing/sales of TF-METAL, July, 1985 (100.0％) million 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 6 Companies 1 Company subsidiary affiliate 52/57 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 (U.S.A.), 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 (U.S.A.) Seating 2005 U.S.A. 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-U.S.A., 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
*（including subsidiaries’ equity） 1. Consolidated 2. Consolidated 6 Companies 1 Company subsidiary affiliate 53/57 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 2,184 Engineering May, Aguascalientes, administration *(100.0%) million 2012 Mexico 1 Latin America, in Latin America MXN 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 27 million *(100.0%) TF-METAL U.S.A., 2012 Mexico automotive seat parts USD 1 S.A. de C.V. Faurecia
TACHI-S Brasil Industria de August, Rio de Janeiro, Manufacturing/sales of 275 million Assentos *(100.0%) NISSAN (Brazil) 2012 Brazil automotive seats BRL 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 54/57 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 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 1 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 Wuhan TACHI-S Adient June, Hubei, Manufacturing/sales of 43 million 50.0% Dongfeng HONDA Automotive Seat 2008 China automotive seats RMB 1 Co., Ltd. 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.
Zhengzhou Taizhixin Manufacturing/sales of June, Henan, 90 million Automotive Seating automotive seats and (49.0%) 2019 China RMB 4 Co., Ltd. seat parts
The company changed its name in April, 2020 New establishment *（including subsidiaries’ equity）
1. Consolidated 2. Consolidated 3. Equity-method non- 4. Unconsolidated 5 Companies 2 Companies 1 Company 1 Company subsidiary:/ affiliate consolidated subsidiary affiliate 55/57 Appendix TACHI-S Group Companies (China-2)
Equity Company Established Location Business Contents Capital Major Customers Scope of participation consolidation
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.
Lear Dongshi TACHI-S November, Hubei, Manufacturing/sales of 50 million Automotive Seating *(34.0%) Dongfeng NISSAN 2019 China automotive seats RMB 4 (Wuhan) 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 *(82.8%) 2012 China RMB TSE-E, 1 frame parts Co., Ltd. TAS-U.S.A.
TF-METAL January, Guangdong, Manufacturing/sales of 40 million TACLE Guangzhou, *(85.0%) Guangzhou Co., Ltd. 2005 China automotive seat parts RMB TF-METAL 1
TF-METAL Zhejiang December, Zhejiang, Manufacturing/sales of 251 million Zhejiang Gee Ju Tai, *(82.8％) Co., Ltd. 2019 China automotive seat parts RMB TACHI-S 1
Zhejiang Fu Chong Tai Zhejiang TACHI-S, March, Zhejiang, Manufacturing/sales of 109million Automotive Parts *(82.8%) TSE-E, 2011 China automotive seat parts RMB 1 Co., Ltd. TAS-Thailand
New establishment *（including subsidiaries’ equity）
1. Consolidated 4. Unconsolidated 6 Companies 2 Companies subsidiary affiliate 56/57 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 20,647 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 57/57