AKEBONO REPORT 2017

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15%AsiaSales ratio64206040200201220132014201520162012201320142015201624.32.432.64.242.04.742.64.436.23.8(FY)(FY) 28%Japan売上高比率642012080400201220132014201520162012201320142015201689.52.389.23.486.73.683.13.380.94.1Net sales (Billions of yen)(FY)(FY) 53%North AmericaSales ratioSales ratio50-5-10-15200150100500201220132014201520162012201320142015201698.40.1122.80.7166.9(11.2)153.1(3.2)140.3(3.2)(FY)(FY) 4%EuropeSales ratio151050201220132014201520160-1.0-1.5-2.0201220132014201520164.9(0.8)7.4(0.6)8.9(0.5)10.9(0.9)11.6(1.3)(FY)(FY)Review of OperationsOperating Results for Fiscal 2016In scal 2016, net sales decreased 5.4% from the previous scal year to JPY266.1 billion. Akebono reported a decline in domestic sales owing to weak sales of automobiles in Japan in the rst half and slowing in exports. Overseas, orders remained brisk in North America, and increased in China, while operations ramped up for high performance vehicles in Europe. As a result, with the exception of Japan, sales increased in all regions on a local currency basis, but yen appreciation had a signicant impact on foreign currency exchange (-JPY23.4 billion year on year). On the earnings front, Akebono posted operating prot of JPY4.2 billion (compared with an operating loss of JPY3.8 billion last year). Rationalization effect in Japan, strong orders in China and measures to rebuild operations in North America, such as optimization of sales prices, which showed earlier-than-anticipated results, offset slightly continued manufacturing problems in North America that led to higher labor, transportation and other costs. Ordinary prot totaled JPY0.8 billion, an improvement from ordinary losses of JPY6.8 billion a year ago, mainly reecting a decline in interest payments and foreign exchange losses. Prot attributable to owners of parent was JPY0.35 billion, compared with the loss attributable to owners of parent of JPY19.5 billion last year, mainly reecting the recording of extraordinary income on the sale of some investment securities and subsidy income (Fukushima business investment subsidy for revitalization of industries). At a glanceNet sales (Billions of yen)Operating prot/loss(Billions of yen)Net sales (Billions of yen)Operating prot/loss (Billions of yen)Net sales (Billions of yen)Operating prot(Billions of yen)Operating prot(Billions of yen)Net sales¥ 266.1 billionAKEBONO REPORT 2017 24Part 2 Review of Operations