AKEBONO REPORT 2012

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AKEBONO REPORT 2012 Akebono Brake Industry Co. Ltd. 47with our efforts to improve productivity and logistics operations will help operating incomebreak even.In Europe recurring debt problems may cause further downturns in the economy and thecar market. Our operating income in the region will continue to be negative because of theincrease in raw material prices which are not totally hedged as well as in the investmentcost for capacity expansion.In Asia although the pace of rapid economic expansion is slowing the growth trendremains stable contributing to the further expansion of the automotive market. Our operationsand sales in the region are expected to grow thanks to the relocations of production tothis region from Japan by Japanese car manufacturers. In spite of the rise in the employmentrate accompanied by living standardimprovements that reflect economicgrowth operating income in the regionis expected to increase.The assumed exchange rates forthe current fiscal year ended March31 2013 have been set at ?80 toUS$ and ?105 to euro.Issues to be AddressedAlthough it had announced the “akebonoNew Frontier 30 Rolling Plan 2010” medium-term management plan on May 20 2010 theCompany decided to update it to the “akebono New Frontier 30 Rolling Plan 2011” on June14 2011 in order to reflect radical changes in the economic and business environment surroundingthe Company in the wake of such events as the impact of the Great East JapanEarthquake yen appreciation and an increase in the price of raw materials.In principle the “akebono New Frontier 30 Rolling Plan 2011” states the Company’saims to expand its business and increase its corporate value through three core strategies:“advancement of technologies for the future ” “continuation of cost revolution and expansionto global operation” and “acceleration of globalization (from Japan & North America to Japan North America Europe and Asia).” These basic policies of the “akebono New Frontier 30Rolling Plan 2011” remain unchanged.In line with the plan the Company will enhance global competitiveness in order toachieve “Global 30 ” or an approximately 30% market share of the worldwide OEM discbrake pad market. The outline of the plan is described as below.● “Advancement of Technologies for the Future”While deepening its advanced experience and know-how with respect to noise and vibration the Company shall set broad targets for the Company’s technology such as “overwhelmingcost competitiveness (commonization and standardization low-cost brakes) ” “unrivaled productionengineering for global environment friendliness (lightweight/electro-mechanical products responding to electric/hybrid vehicles development of environment-friendly products) ”“development of next-generation production facilities with global environment friendlinessand cost competitiveness ” “products to be installed in high-performance vehicles ” and“advanced technology capable of acquiring a large share of the compact and low-price carmarket particularly in emerging countries.”● “Continuation of Cost Revolution and Expansion to Global Operation”Based on the significant reduction of fixed costs in fiscal 2009 (ended March 31 2010) theCompany shall continuously aim to establish a solid cost structure. The Company also promotesthe use of locally available specifications as well as locally procured materials andreinforces cost reductions to meet the requirements of foreign markets.● “Acceleration of Globalization (from Japan & North America to Japan North America Europe and Asia)”Various measures will be implemented by the Company as the Company recognizes thathaving a large presence in Japan the United States Europe and Asia is a pressing issue.For the time being placing Japan the core of the group as the center of technology andmonozukuri (value added product manufacturing) for global operations the Company willconcentrate on expanding and strengthening the North American brake business transferredfrom Robert Bosch LLC expanding business in Europe by introducing high-performancebrakes. In the Asian market the Company intends to expand business by focusing on China Thailand and Indonesia while accelerating globalization.Fiscal 2012 Performance Forecast by Region (billions of yen)Net sales Operating incomeJapan 92.2 5.0North America 99.5 0.0Europe 5.2 (0.5)China 7.2 1.0Thailand 4.9 0.2Indonesia 15.8 2.6Elimination (11.0) 0.2Consolidated total 213.8 8.5(Yen)10.0 10.0 10.05.0 5.02008 2009 2010 2011 2012Cash Dividends per Share0612Special Feature Social Repor t Environmental Repor t Economic Report Reference Materials

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