FY2009 1st quarter Consolidated Financial Results(April 1, 2008 through June 30 , 2008)
July 30, 2008
Company NameAISIN SEIKI Co., Ltd.

Listed on

The Tokyo, Osaka and Nagoya
Stock Exchanges (1st division)
Aichi, JAPANhttp://www.aisin.co.jp/
81 - 566 - 24 - 8265

Code Number
7259
LocationUR
L
Representative
Yasuhito Yamauchi, President
TE
L
Reference person in charge Masaaki Yasui,
General Manager, Finance & Accounting Dept.

（Amounts less than million yen are rounded down.）

１. Consolidated Results for 1st Quarter of FY2009（Apr. 1, 2008 through Jun. 30, 2008）(1)Consolidated Financial Results
Net Sales
Operating Income
Ordinary Income
Net Income
Million Yen

FY2009 1st quarter
FY2008 1st quarter％

Million Yen％

Million Yen％

Million Yen％

670,024－
641,698
15.3
Earnings Per Share

37,36339,598－45.2

45,15343,376－50.2

23,844
20,658－54.9

FY2009 1st quarter
FY2008 1st quarter

Fully Diluted Earnings

YenYen

84.72
72.49

84.70
72.38

(2)Consolidated Financial Position
Total Assets

Shareholders' Equity

Shareholders' Equity Ratio

Shareholders' Equity Per Share

Million Yen

Million Yen％

Yen

FY2009 1st quarter
FY20082,065,184
2,097,727

971,341994,592

36.4
36.6

2,671.94
2,725.67

Note : Equity capital

FY2009 1st quarter : 752,026 million yen , FY2008 : 767,123 million yen

２. Cash Dividends
Annual Cash Dividends Per Share
4th quarter2nd quarter3rd quarter

1st quarter
FY2008FY2009FY2009(Forecast)

FY Total

Yen

Yen

Yen

Yen

Yen

――

24.00

―

36.00

60.00

30.00

―

30.00

60.00

Note : Dividend forecast corrections for FY2009 : No

３. Consolidated forecast for FY2009 (Apr. 1, 2008 through Mar. 31, 2009)
Net Sales
Operating Income
Ordinary Income
Net Income
1st Half
Fiscal Year

Million Yen％

1,310,000
2,690,000

1.3-0.4

Million Yen％

57,000 -29.7
134,000 -25.8

Million Yen％

63,000 -25.8
143,000 -23.2

Million Yen

Earnings Per Share％Yen

32,000 -17.2
70,000 -23.6

113.70248.71

Note : Consolidated forecast corrections for FY2009 : Yes

４. Others(１)Changes in significant subsidiaries： No(２)Use of estimation in reporting financial statements: Yes(note）Please refer to 【Qualitative Information , Financial Statements 】 " 4.Other " at page ３(３)Changes in Accounting Policies and Presentation①Changes according to revision of accounting policy ： Yes②Changes other than above ： No(note）Please refer to 【Qualitative Information , Financial Statements 】 " 4.Other " at page ３(４)Issued and outstanding capital stock① Number of shares issued as of the respective balance sheet date
FY2009 1st quarter : 294,674,634 shares , FY2008 : 294,674,634 shares② Number of treasury stock
FY2009 1st quarter : 13,220,928 shares , FY2008 : 13,231,279 shares③ Average number of common stocks
FY2009 1st quarter : 281,451,040 shares , FY2008 1st quarter : 284,994,679 shares(※）

Explanation regarding the appropiate use of forecasts, and other statements
Forecasts above are based on AISIN's plans and expectations. These are not guarantees of future performance including known
and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or financial
to be materially different from the forecasts expressed or implied in this report. For details please refer to 【 QualitativeInformation , Financial Statements 】 " 3. Consolidated Financial Forecast" at page ２.
(Adoption of the "Accounting Standard for Quarterly Financial Statements" )The quarterly consolidated statements disclosed follow the requirements set forth by the "Accounting Standard for
Quarterly Financial Statements" ASBJ statement 12 issued on March 14th 2007 and the "Guidance on Accounting Standardfor Quarterly Financial Reporting" ASBJ statement 14 issued on March 14th 2007. The disclosed statements also uses
the general financial terms and format set forth by the Financial Services Agency.

-1-【Qualitative information , Financial statements】
１. Qualitative information on Consolidated Financial Results
Aisin group has developed and sold new products corresponding to social change and changing
customer's needs; business expansion in global market, while promoting positive environmental
and social activities.
Due to clients' production volume increase, in addition to aggressive sales activities forautomatic transmissions, manual transmissions, car navigation systems, and power sliding
doors, the first quarter sales within the Auto Parts segment were 646,287 million yen.
Sales within the Life & Energy related products were 10,834 million yen. And other sales
segment which includes construction, and gasoline sales were 12,902 million yen. As a result,first quarter net sales totaled 670,024 million yen.
Despite cost reductions and other measures to streamline operations, negative factors suchas raw material increase, currency exchange fluctuation and higher amortization and researchcosts resulted in operating income of 37,363 million yen. Ordinary income totaled 45,153
million yen. Net income totaled 23,844 million yen.
２. Qualitative information on Consolidated Financial Position
During the 1st quarter of FY2009 (Apr. 1, 2008 through Jun. 30, 2008) total assets decreased
1.6% from \2,097,727 million to 2,065,184 million yen. Net assets decreased 2.3% from 994,592
million yen to 971,341 million yen due to increase in net income, dividend payments, andcurrency valuation adjustments.
３. Qualitative information on Consolidated forecast for FY2009
As for the fiscal year outlook, uncertainties such as worldwide financial insecurity,
escalating price of crude oil, and other resources will likely continue. The concerns in theautomobile industry are the stagnant United States and Japanese markets, growing global
environmental concerns, and intensifying global competetion. We expect that this challenging
environment will continue for the foreseeable future.
The company will revise forcast for FY2009 from the forcast released on April 25th 2008.
Revised forcast for FY2009 2nd quarter is as follows: Consolidated net sales of
1,310,000 million yen, operating income of 57,000 million yen, ordinary income of 63,000
million yen, and net income of 32,000 million yen. The revised full year FY2009 forcast isas follows: Consolidated net sales of 2,690,000 million yen, operating income of 134,000
million yen, ordinary income of 143,000 million yen, and net income of 70,000 million yen.
The exchange rate used in the forcast is \100 to the US dollar.
４. Others(1) Significant changes in scope of consolidation
None(2) Adoption of estimates in accounting policies and unique accounting policies for preparing
quarterly statements① Estimation used in reporting
1 Inventory estimation
Quarterly inventory count is not implemented instead a practical method which uses the year
end inventory balance is used to calculate quarterly inventory balance.
2 Fixed asset depreciation estimation
For fixed assets using the declining balance depreciation method the full fiscal year
depreciation amount has been proportionally divided to calculate depreciation.
3 Income tax, Deferred tax assets, and Deferred tax liabilities estimation
A number of consolidated subsidiaries estimate income tax by using only important tax
adjustment items only.
The decision if deferred tax assets are recoverable are based on the company forecast andtax planning.

-2-4 Retirement benefit obligation estimation
To prepare for employee retirement, accrual amount is estimated by using the difference
between the actual amount that would be paid to the employee as of the balance sheet
date and the reserve accured by the company and the accured welfare pension amount.
② Unique accounting policies for preparing quarterly statements
Income tax calculation
A number of consolidated subsidiaries estimate income tax by using theincome before income taxes multiplied by the tax rate determined by tax planning.
The deferred tax amount is included in the income tax line.

firstquarter(3) Changes in Accounting Policies and Presentation
1 Adoption of the "Accounting Standard for Quarterly Financial Statements"
The quarterly consolidated statements disclosed follow the requirements set forth bythe "Accounting Standard for Quarterly Financial Statements" ASBJ statement 12 issued
on March 14th 2007 and the "Guidance on Accounting Standard for Quarterly Financial
Reporting" ASBJ statement 14 issued on March 14th 2007. The disclosed statements alsouses the general financial terms and format set forth by the Financial Services Agency.
2 Evaluation method and changes of important assets
Inventories
The previous measurement method of inventories held for sale in the ordinary course ofbusiness used the cost method. Starting from the 1st quarter of this fiscal year thecompany has adopted a new measurement that follow the requirements set forth by the"Accounting Standard for Measurement of Inventories" ASBJ Statement No. 9 issued on
July 5th 2006, the lower-of-cost-or-market method(Inventories
shall be carriedat the net selling value on the balance sheet).
The effect of this change has minimal impact on the disclosed income statement.
Also the effect of this change has minimal impact on the disclosed segment information.
3 Application of "Practical Solution on Unification of Accounting Policies Applied to Foreign Subsidiaries for
Consolidated Financial Statements"
Starting from the 1st quarter of this fiscal year the company has adopted accounting
policies that follows the requirements set forth by the "Practical Solution on
Unification of Accounting Policies Applied to Foreign Subsidiaries for Consolidated
Financial Statements" ASBJ Practical Issues Task Force No. 18 issued on May 17th 2006.
The effect of this application has no impact on the disclosed income statement.

-3-５. Consolidated finalcial statements(１） Consolidated Balance Sheets（Million Yen）

Consolidated quarterly balance sheets
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Short-term investment securities
Merchandise and finished goods
Work in process
Raw materials and Supplies
Other
Allowance for doubtful accounts
Total current assets
Noncurrent assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, netTools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, netLand
Construction in progress
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets-4-

FY2009 1st quarter(As of Jun. 30, 2008)

FY2008(As of Mar. 31. 2008)

99,746355,892
109,869
76,08048,35044,839118,887-563
853,103102,293373,697
95,63680,967
46,95247,440123,675-746
869,917

531,479-285,696
245,783
1,364,799-945,076
419,723
248,494-210,447
38,047
96,15556,594856,303
20,595536,086-282,709
253,377
1,365,899-936,366
429,533
248,379-206,768
41,61094,64956,602875,773
20,885269,510
66,109-438
335,181
1,212,080
2,065,184

267,509
64,086-445
331,150
1,227,810
2,097,727

（Million Yen）

Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Income taxes payable
Provision
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Provision for retirement benefits
Other provision
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total valuation and translation adjustments
Subscription rights to shares
Minority interests
Total net assets
Total liabilities and net assets-5-FY2009 1st quarter(As of Jun. 30, 2008)

FY2008(As of Mar. 31. 2008)

344,729
40,404
16,382
19,952272,954694,423

372,058
28,64742,206
21,034
240,332
704,280

39,988227,233
82,3385,439
44,418399,419
1,093,842

39,988
227,664
82,0186,233
42,950398,854
1,103,134

45,04958,829592,681-20,725
675,835

45,04958,825578,969-20,738
662,106

89,198-656-12,350
76,191
733
218,582
971,341
2,065,184

88,130-1,184
18,071
105,016
601
226,867
994,592
2,097,727

(２） Consolidated quarterly statements of income（Million Yen）

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Salaries and allowances
OtherTotal selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Equity in earnings of affiliates
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary income
Income before income taxes and minority interests
Income taxes
Minority interests in income
Net income-6-FY2009 1st quarter(Apr. 2008 throughJun. 2008)
670,024582,72287,302
13,14336,79549,93837,363
333
2,686
3,442
4,057
10,519
647
2,082
2,729
45,15345,153
13,5087,800
23,844

(３） Consolidated quarterly statements of cash flows（Million Yen）

FY2009 1st quarter(Apr. 2008 throughJun. 2008)
Net cash provided by (used in) operating activities
Income before income taxes and minority interests
Depreciation and amortization
Interest and dividends income
Interest expenses
Equity in (earnings) losses of affiliates
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable-trade
Other, net
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investment activities
Decrease (increase) in time deposits and securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of investment securities
Proceeds from sales and redemption of investment securities
Other, net
Net cash provided by (used in) investment activities
Net cash provided by (used in) financing activities
Increase (decrease) in short-term bank loans and commercial papers
Repayment of long-term loans payable
Cash dividends paid
Cash dividends paid to minority shareholders
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period-7-45,15342,963-3,020647-3,442
8,064
1,865-18,41634,060
107,875
5,038-252-43,889
68,772-8,125-47,039
1,401-7,068
1,865-556-59,523
13,445-612-10,133-4,695119-1,876-5,516
1,856
190,245
192,101

The quarterly consolidated statements disclosed follow the requirements set forth by the "AccountingStandard for Quarterly Financial Statements" ASBJ statement 12 issued on March 14th 2007 and the"Guidance on Accounting Standard for Quarterly Financial Reporting" ASBJ statement 14 issued onMarch 14th 2007. The disclosed statements also uses the general financial terms and format set forth by
the Financial ServicesAgency.
(４） Notes for Going concern basis of Accounting
None(５） Segment Information【Industry Segments】
AISIN's main business is manufacturing and sales of automotive parts. Over 90% of sales
and operating income derive from this segment.
Therefore information of industry segments is omitted.
【Geographical Segments】
FY2009 1st quarter (Apr. 2008 through Jun. 2008)
NorthJapan
Europe Others
America
Sales
456,392
98,36351,682
63,585(1) Customers(2) Inter-segment
Total
Operating Income（Million Yen）

Total
670,024:::

Consolidated―

670,024

85,920

2,661

2,026

2,142

92,750 ( 92,750 )―

542,313
20,888101,024
3,349

53,708705

65,728
11,216

762,774 ( 92,750 )
36,1601,202

670,024
37,363

Note: 1.Geographical segments determined according to geographical closeness.
2.Main countries are① North America② Europe③ Others

Eliminations

U.S.A., Mexico
Belgium, Czech
China, Thailand-8-【Sales by Customer Location】
FY2009 1st quarter (Apr. 2008 through Jun. 2008)
North America
Overseas Sales
Net Sales
Overseas Sales
Ratio to Net Sales(%)

Note: Main countries are① North America② Europe③ Others:::（Million Yen）

Europe

Total

Others108,758

60,917

98,468268,144―――670,024

16.2

9.1

14.7

40.0

U.S.A., Canada
Germany, Sweden
Thailand, China, South Korea(６） Consolidated Statements of Changes in Shareholders' Equity
FY2009 1st quarter (Apr. 2008 through Jun. 2008)
Capital stock

Balance as of March 31, 2008

（Million Yen）

Capital surplus Retained earnings Treasury stock

45,04958,825578,969

Total
Shareholders'equity-20,738

662,106-518
13-20,725-10,133
23,844-5
22
13,728675,835

Increase(Decrease) in FY2009 1st quarter

Dividends from surplus
Net income
Purchase of treasury stock
Disposal of treasury stock
Total Changes in the Term
Balance as of Jun. 2008

-10,133
23,8444
458,829―45,049-9-13,711
592,681