AKEBONO REPORT 2014

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Eleven-Year Financial SummaryAkebono Brake Industry Co., Ltd. and Consolidated Subsidiaries Years ended March 31Billions of yen2004 2005 2006 2007Net sales ? 141.4 ? 132.8 ? 142.3 ? 173.2Gross profit 28.4 26.0 30.9 35.1Ratio of gross profit to sales (%) 20.1 19.6 21.7 20.3Selling, general and administrative expenses 18.4 16.2 19.1 21.3Ratio of selling, general and administrativeexpenses to sales (%) 13.1 12.2 13.5 12.3Operating income (loss) 9.9 9.8 11.7 13.9Ratio of operating income (loss) to sales (%) 7.0 7.4 8.2 8.0Net income (loss) 4.6 5.2 5.9 6.6Ratio of net income (loss) to sales (%) 3.2 3.9 4.1 3.8Return on assets (ROA) (%) 3.4 4.2 4.3 4.3Return on equity (ROE) (%) 25.8 21.7 17.2 15.0Capital investment 6.3 5.8 8.2 8.9Depreciation and amortization 6.3 7.4 7.6 9.3Cash flow from operating activities 17.8 14.0 12.2 10.8Cash flow from investing activities (4.3) (3.7) (11.9) (9.1)Cash flow from financing activities (13.3) (9.4) (3.2) (3.3)ThousandsNumber of outstanding shares at the end of period(including treasury stock) 95,508 97,508 110,816 110,992YenNet income (loss) per share?basic ? 48.50 ? 54.29 ? 56.60 ? 61.86Cash dividends per share 4.00 6.00 6.00 6.00Billions of yenTotal assets ? 126.6 ? 122.2 ? 150.1 ? 155.6Net interest-bearing debt 44.9 35.5 40.3 40.2Net debt-equity ratio 2.1 1.3 1.0 0.8Net equity (Equity minus minority interests minusstock subscription rights) 21.0 27.2 41.0 47.3Net equity ratio (%) 16.6 22.3 27.3 30.42002Forward 30 Global 30 akebono New Frontier 302005 2008Main Achievements? Achieved a record-high profitthrough the streamlining ofoperations, including drasticcost reductions, and initiativesaimed at creating new value? Expanded into broader marketsin step with initiativesaimed at realizing “trueglobalization”Established of brake assemblyplant and friction materialproduction plant in ChinaMain Achievements? Promoted initiatives aimed atrealizing “true globalization”Promoted Thai and Indonesianoperations while making thecurrent Akebono Brake,Elizabethtown Plant, a whollyowned subsidiary? Strengthened MonozukuriLaunched “Commonizationand Standardization (C&S)”initiatives while resuming thecasting businessMain Achievements? Realized the cost reductions needed to ensure business sustainabilityCarried out the realignment of bases in Japan, Europe and the United States and workforceoptimization as well as a shift to the in-house manufacture of key components whilepromoting C&S initiatives? Pursued technological differentiationInitiated the development of high-performance brakes and promoted environmentalresponsiveness while developing low-cost products for lightweight and compact vehicles? Accelerated expansion into AsiaLaunched a plant in Thailand and secured responsiveness to growing number of orders frommajor Japanese automakers while making all our Asian locations’ operations profitable? Acquired a part of the North American brake business of Robert Bosch LLCSignificantly increased market share while optimizing the product performance of highlycalibrated brakes to better match North American market requirements

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