AKEBONO REPORT 2013

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Acquiring a 30% Global Share of the OEM Disk Brake Pad MarketStriving toward business expansion and greater corporate valueand competitiveness, the Akebono Group is aiming to attain“Global 30,” or its growth target of a 30% global market sharefor OEM disk brake pads.In addition to “Global 30,” goals set forth in Akebono’s longtermvision for fiscal 2020 comprise: “Achieving ‘8-8-12’” (a costto sales ratio of 80%, SG&A expenses to net sales ratio of 8%and operating income ratio of 12%); “Establishing a global supplynetwork”; and “Establishing a global R&D structure.”To achieve these goals, in November 2012 the Group formulated“akebono New Frontier 30 - 2013” (aNF 30 - 2013), a newmidterm business plan with fiscal 2015 as the target year. Thenew plan sets the target of acquiring 20% of the global OEM diskbrake pad market by the end of fiscal 2015 as a springboardtoward attaining “Global 30.” The plan also sets forth a numberof numerical targets, including net sales of ?250 billion, operatingincome of ?20 billion and an operating income ratio of 8%.Three Priority MeasuresaNF 30 - 2013 focuses on three priority measures, namely:l Making a difference with next-generation technologies;l Continuous drastic cost reduction and its global implementation;andl Acceleration of globalization encompassing Japan, NorthAmerica, Europe and Asia.n Making a Difference with Next-Generation TechnologiesWhile further developing the expertise we have accumulatedover the years in controlling noise and vibration, we will strive toestablish unparalleled cost competitiveness by utilizing ourexpertise to promote such initiatives as “Commonization andStandardization” (C&S). At the same time, we will accelerateaggressive growth strategies, focusing on development in suchareas as environment-friendly brakes that utilize cast aluminuminstead of cast iron; weight-saving brakes that incorporate plasticmaterials; friction materials that incorporate little or no copperor antimony with the aim of reducing environmental impact;low-drag calipers that are effective in reducing CO2 and improvingfuel efficiency; and electro-mechanical brakes. Targeting theU.S. market, we will leverage our cutting-edge technologies todevelop new products, including modules combining caliper, padand rotor components as well as antirust rotors made usingFerritic Nitro-carburizing (FNC) technology.Simultaneously, we will work to develop next-generation manufacturingfacilities that consume half the energy of conventionalfacilities and boast superior cost competitiveness. We willalso develop products for high-performance commercial vehicleswhile reinforcing our competitiveness by augmenting the technologicalcapabilities required to capture greater shares of themarkets for small- and medium-size cars that are increasinglybeing demanded in emerging countries.Net sales and operating income (billions of yen) Medium-termgrowth targetsGrowth targets2007 2008 2009 2010 2011 2012 2015 2020184.7159.6130.6216.6 209.6 206.0250.0300.0Share of OEM brake pad market 18% 20% 30%Operatingincome?4.3 bn(2%)Operatingincome?20 bn(8%)Operatingincome?36 bn(12%)Note: percentages indicate operating income ratio(FY)01 0203 04Global 3030% global share for OEM disk brake pads8-8-12Cost of sales at 80%, SG&A expenses at 8%and operating income at 12% of salesGlobal R&D structureConnecting our R&D bases across the worldGlobal footprints for supplyEstablishing a global product supply network toincrease convenience to our customersAkebono Long-Term Vision (Growth Targets for fiscal 2020)Toward “Global 30”Next Growth Stage toward GlobalizationEstablishing “akebono New Frontier 30 - 2013” aimed at achieving “Global 30”Special Feature: New Midterm Business Plan

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