Jun, 04 The 1st Quarter Financial Summary
29‑Jul‑04
Listed Company
The Tokyo Stock Exchange, Osaka
Listed Exchange
AISIN SEIKI Co., Ltd.
Name
Securities Exchange, Part I
Code Number
2‑1, Asahi‑machi, Kariya, Aichi, JAPAN7259
Location(URL http://www.aisin.com)
Representative
Kanshiro Toyoda, President
Reference person in charge
Genshiro Mizuno, Director
TEL 81 ‑ 566 ‑ 24 ‑ 8266
１. Jun, 04 Achievements of The 1st Quarter（04.4.1〜04.6.30）(1)Operating Results（The amount less than million yen is rounded down.）
Change from
Change from
Change fromOperatingpreviousprevious
Ordinary Income previous
Net Sales
Incomeperiodperiodperiod
Millions of Yen％

Millions of Yen％Jun, 04 1st Quarter

Millions of Yen

426,350 （16.3）

22,634 （76.5）

23,868 （81.7）

Jun, 03 1st Quarter

366,696 （-）

12,825 （-）

13,135 （-）

Years ended Mar 31, 04％

86,768

1,605,252
Net Income

Change fromprevious
periodMillions of Yen

84,654

Per Share of Common
Stock Net Income ‑ BasicPer Share of Common StockNet Income ‑ Diluted％

Jun, 04 1st Quarter

10,093 （77.8）

35.38yen

35.16yenJun, 03 1st Quarter

5,676 （-）

21.41yen

20.19yen

126.11yen

118.38yen

Years ended Mar 31, 04

34,719(2)Financial condition
Equity to Assets
Ratio

Total Assets

Shareholders' Equity

Millions of Yen

Millions of Yen％

Shareholders' Equity
Per ShareJun, 04 1st Quarter

1,399,038

520,592

37.2

1,824.59yen

Jun, 03 1st Quarter

1,248,016

441,88535.4

1,666.55yen

Years ended Mar 31, 04

1,382,584

506,260

36.6

1,771.12yen(3)The number of consolidated subsidiaries and affiliates accounted for under the equity
method is as follows.
Consolidated Subsidiaries
Affiliates under the Equity Method
116
Consolidated Subsidiaries Applicated to Equity Method
none14(4)Change of the number of consolidated subsidiaries and affiliates accounted for under the equity
method.
Consolidated（New）
3
Affiliates（New）
none（Exclusion） 1（Exclusion） none
(Merged to another consolidated subsidiariy)
２. Mar, 05 Operating Results forecast（04.4.1〜05.3.31）
Net Sales
Ordinary Income

Net Income

Millions of Yen

Millions of Yen

Millions of Yen

850,000
1,720,000

40,00092,00018,00042,000

Half YearsYears(Reference）

Net Income par share forecast（Years）

143.71yen

Net Sales by Item
(Millions of Yen)
Previous 1st quarter

1st quarter
Classification(3 months ended
Jun. 30, 2004)
Percent
Amountage

Year ended

Increase Variation(3 months ended(decrease)
ratio
Jun. 30, 2003)
Percent
Amountage%%(Mar. 31, 2004)
AmountPercent
age%%

Engine Related

41,2139.7

35,496

9.7

5,717

16.1

153,695

9.6

Drivetrain Related

177,350

41.6

159,92643.6

17,424

10.9

673,760

42.0

Brake & Chassis
Related90,62421.2

73,25620.0

17,36823.7

343,048

21.4Body Related

74,01417.4

61,494

16.7

12,52020.4

286,229

17.8

Information Related

24,8395.8

19,391

5.3

5,448

28.1

75,900

4.7

Sub Total

408,04295.7

349,565

95.3

58,47716.7

1,532,634

95.5

Life & Energy Related

11,7882.8

11,323

3.1

465

4.1

48,338

3.0

Others

6,519

1.5

5,806

1.6

713

12.3

24,279

1.5Grand Total

426,350100.0

366,696

100.0

59,65416.3

1,605,252

100.0

AutomotiveRelated（Notes）Sales of "Others" includes "Construction and engineering works business" and "oil sales business",and so on.

− １ −Consolidated Statements of Income(Millions of Yen)
1st quarter

Previous 1stquarter(3 months ended
Jun. 30, 2004)(3 months ended
Jun. 30, 2003)

Net Sales

426,350

366,696

59,654

1,605,252

Cost of Sales

363,611

321,698

41,913

1,377,161

Gross Profit

62,73844,997

17,741

228,091

Selling, General & Administrative
Expenses

40,10332,172

7,931

141,322

Operating Income

22,634

12,8259,809

86,768

Non-Operating Income

4,657

2,856

1,801

13,3041,327

1,073

254

2,387

924

420

504

2,691

2,404

1,362

1,042

8,225

Non-Operating Expenses

3,423

2,546

877

15,418Interest Expenses

601781180 )

2,393

2,821

1,764

1,057

13,024

Ordinary Income

23,86813,135

10,73384,654Extraordinary Losses

2,798

―

2,798

7,319

Determinate Loss on Refunding
Substitution Benefit of Employee
Pension Fund―

―

―

7,319

Impairment Loss of Fixed Assets

2,798

―

2,798

―

Income Before Income Taxes
and Minority Interests

21,06913,135

7,934

77,335

Income Taxes

7,318

5,122

2,19629,336

Minority Interest in Net Income

3,657

2,335

1,322

13,279Net Income

10,093

5,676

4,417

34,719Subject

Interest & Dividend Income
Investment Profit on Equity Method
Other

Other

− ２ −

Increase(decrease)

Year ended(Mar. 31, 2004)(Consolidated Balance Sheets
Subject

1st quarter
Year ended(As of Jun. 30, 2004) (As of Mar. 31, 2004)

Increase(decrease)（Millions Yen）
Previous 1st quarter(As of Jun. 30, 2003)〔 Assets 〕
Current Assets

556,728555,063

1,665

499,885

Cash and Cash Equivalents
Trade Notes & Accounts
Receivable
Marketoble Securities

98,587

99,792(1,205 )79,905

253,499

257,028(3,529 )234,532

38,74937,028

1,721

28,792Inventories

101,001

99,518

1,483

93,419Deferred Tax Assets

40,26536,554

3,711

33,552Other Current Assets
Less: Allowance for
Doubtful Accounts
Fixed Assets
Property, Plant & Equipment,
at costBuildings & Structures

25,73926,249(510 )

31,0901,108 )

(6)

(1,114 )(842,309827,521580,225581,552

172,034

Machinery & Equipment(1,407 )

14,788748,130(1,327 )

550,145

174,301(2,267 )168,767

256,893259,667(2,774 )244,607

Furniture, Fixtures & Office

29,71330,026(313 )

28,464

Land

74,31476,708(2,394 )75,755Construction in Progress

47,26940,8486,421

32,550

9,673

9,659

14

5,768

SoftwareExcess of Cost ofInvestments Over Equity in
Net Assets Acquird
Other

5,355

5,44792 )

3,666

848

632

216

1,163

3,469

3,579

110 )

938

Investments & Other Assets

252,410236,309

16,101

192,217

Investments in Securities

206,953

188,971

17,982

153,268

Long-term Loasns

4,443

4,43944,824

Deferred Tax Assets

21,34721,806(459 )

23,408Other Assets
Less: Allowance for
Doubtful Accounts

20,267

21,694(1,427 )11,245Intangible Fixed Assets

Total Assets(601 )

1,399,038(602 )

1,382,584− ３ −((116,454(529 )

1,248,016

Subject

1st quarter
Year ended(As of Jun. 30, 2004) (As of Mar. 31, 2004)

Increase anddecrease（Millions of Yen）
Previous 1st quarter(As of Jun. 30, 2003)〔 Liabilities 〕
Current Liabilities
Trade Notes & Accounts
PayableShort-term Borrowings
Current Portion of Bonds
PayableCurrent Portion ofConvertible Bonds Payable
Amount in Arrears
Accrued Expenses

492,511493,294

243,969

241,526

51,57853,0275,000(783 )

502,684

2,443

218,0091,449 )

70,837

5,000

―

5,000

―

――

29,11531,40037,7586,358 )

27,939117,348

104,146

13,202

101,640

9,369

19,166(9,797 )

10,906((Accrued Income Taxes
Deposits Received from
Employees
Accrued Warranty Cost

15,971

16,691(720 )

15,858

11,417

11,422(5)

11,378Other Current Liabilities

6,455

4,554

1,901

11,999250,784

249,395

1,389

176,567

Bonds Payable

25,65025,650―20,000Long-term Debt

104,987

104,319668

55,020Long-term Amount in Arrears

10,231

17,253

7,022 )

18,309Deferred Tax Liabilities
Liability for Employees'
Retirement Benefits
Total Liabilities

30,562

23,786

6,776

7,443

79,35278,385967

75,793

743,296742,690606

679,251

135,149

133,633

1,516

126,879

Capital45,04945,049―41,140Capital Surplus

62,92662,926―59,022Retained Earnings
Net unrealized gain on available-forsale securities
Foreign Curreny Translation
Adjustments
Less:Treasury Stock, at Cost

359,005

352,590

6,415

328,182

69,70760,1409,567

42,068Long-term Liabilities(〔Minority Interests〕
Minority Interests〔 Shareholders' Equity 〕(11,736 )(10,091 )(1,645 )(595 )(4,360 )(4,354 )(6)(27,932 )Total Shareholders' Equity

520,592

506,260

14,332441,885

Total Liabilities, Minority Interests
and Shareholders' Equity

1,399,038

1,382,584

16,454

1,248,016− ４ −Segment Information
１．Industry Segments
The company's main business is manufacturing and sales of automotive parts.Sales, operating
income occupy over 90% in all segments. Therefore information of industry segments is omitted.

２．Geographical Segments
1st quarter（3 months ended Jun. 30, 2004）
NorthJapan
America
Ⅰ Sales & Operating Income
Sales(1) Customers

EuropeOthers

Total（Millions of Yen）
Eliminatio Consolid
nsated―426,350

328,381

57,523

27,187

13,256426,350(2) Intersegment

50,547

4,156

1,053

2,178

57,936 ( 57,936 )

―

Total
Operating Costs & Expenses
Operating Income

378,928
359,868
19,06061,68060,043
1,636

28,241
27,928312

15,435
13,5481,887

484,286 ( 57,936 )
461,389 ( 57,674 )
22,896 (262 )

426,350
403,715
22,634Previous 1st quarter（3 months ended Jun. 30, 2003）
NorthJapanEurope
America
Ⅰ Sales & Operating Income
Sales(1) Customers

Others

Total（Millions of Yen）
Eliminatio Consolidns
ated

299,094

40,19817,047

10,355(2) Intersegment

35,595

1,275

1,134

898

38,903 ( 38,903 )

―

Total
Operating Costs & Expenses
Operating Income

334,690322,912
11,777

41,473
41,921( 448)

18,181
18,112
6911,254
9,515
1,738

405,599 ( 38,903 )
392,462 ( 38,591 )
13,137 (312 )

366,696353,870
12,825366,696

Year ended（Mar. 31, 2004）―

366,696（Millions of Yen）
Eliminatio Consolid
nsated

Japan

North
America

Europe1,295,625

188,743

77,00743,874 1,605,252

154,115

6,451

4,401

4,986

1,449,740
Total
Operating Costs & Expenses 1,368,876
Operating Income
80,864

195,195
194,954240

81,40981,487( 77)

48,861 1,775,207 ( 169,955 ) 1,605,252
42,304 1,687,623 ( 169,139 ) 1,518,483
6,556
87,584 (815 )
86,768Ⅰ Sales & Operating Income
Sales
Customers(1)(2) Intersegment

OthersTotal―

169,955 ( 169,955 )(Notes)1. It gets down from the classification of a country or an area with the degree ofgeographical proximity.
2. Main countries or regions are① North America･･･U.S.A., Mexico② Europe･･･Belgium, UK③ Others･･･Taiwan, Thailand, China− ５ −1,605,252―

３．Sales by Customer Location
1st quarter（3 months ended Jun. 30, 2004）

Overseas Sales
Net Sales
Overseas Sales
Ratio to Net Sales（Millions of Yen）

North AmericaEuropeOthersTotal

59,73533,65725,545

118,938

―――％％

14.0

7.9

426,350％

27.9

Previous 1st quarter（3 months ended Jun. 30, 2003）

Overseas Sales
Net Sales
Overseas Sales
Ratio to Net Sales（Millions of Yen）

North America

EuropeOthers

Total

40,57922,34025,79088,710

―

――％％

11.1

6.1

366,696

Net Sales
Overseas Sales
Ratio to Net Sales

％％

7.0

24.2

Year ended（Mar. 31, 2004）

Overseas Sales％6.0（Millions of Yen）

North America

EuropeOthers

Total

192,520

108,941

95,478396,940―――％％

1,605,252％

12.0
6.85.9(Notes) 1.It gets down from the classification of an area with the degree ofgeographical proximity.

％

24.7

2.Main countries or regions are① North America･･･

U.S.A., Canada② Europe･･･

Sweden, Germany③ Others･･･

Korea, Taiwan, Thailand, China− ６ −＜Reference＞
１．Achievements of The 1st Quarter ended June 30, 2004
（Apr. 1, 2004 through Jun. 30, 2004）◇（Non-Consolidated）Statements of Income
Subject
Net Sales
Operating Income
Ordinary Income
Extraordinary Income(Loss)Net Income

1st quarter（Millions of Yen）

Previous 1st quarter(Mar. 31, 2004)

137,137
3,1795,255
0
3,887

17,902
3,524
4,466(1,375)2,800

601,872
25,042
26,425(4,032)
15,250Year ended

Increase(decrease)155,039
6,703
9,721(1,375)
6,687◇（Non-Consolidated）Balance Sheets
Subject〔 Assets 〕
Current Assets
Fixed Assets
Property, Plant &Equipment, at cost
Intangible Fixed Assets
Investments & Other Assets
TotalSubject〔 Liabilities 〕
Current Liabilities
Long-term Liabilities
Total Liabilities〔 Shareholders' Equity 〕
CapitalCapital Surplus
Retained Earnings
Net unrealized gain on
available-for-sale securities

1st quarter

Year ended

Increase(decrease)(3 months ended (3 months ended
Jun. 30, 2004)
Jun. 30, 2003)（Millions of Yen）

(As of Jun. 30, 2004) (As of Mar. 31, 2004)

Previous 1st quarter(As of Jun. 30, 2003)

214,030
451,274

218,061433,840(4,031)
17,434

183,593
371,400

131,513

134,733(3,220)128,436

2,296
317,463
665,304

2,290
296,817651,9026
20,646
13,402

1,616
241,347
554,994

1st quarter

Year ended

Increase(decrease)(As of Jun. 30, 2004) (As of Mar. 31, 2004)

Previous 1st quarter(As of Jun. 30, 2003)

144,367
163,383
307,750

148,082
159,267
307,349(3,715)
4,116
401

161,696
104,696266,392

45,04962,926
184,563

45,04962,926
181,026――
3,537

41,14059,022
174,186

68,34058,8709,470

41,165

Less:Treasury Stock, at Cost

(3,326)(3,320)(6)(26,912)

Shareholders' Equity Total
Total

357,553
665,304

344,552
651,902

13,001
13,402

288,601
554,994

2．Operating Results Forecast ended Mar. 31, 2005
（Apr. 1, 2004 through Mar. 31, 2005）
Net Sales
Millions of Yen

Half Year ended Sep. 30, 2004
Year ended Mar. 31, 2005

310,000
620,000− 7 −Ordinary Income
Millions of Yen

15,50030,500Net Income
Millions of Yen

10,00020,000