FY2007 Consolidated Financial Results(April 1, 2006 through March 31, 2007)
Company NameAISIN SEIKI Co., Ltd.

April 26, 2007
The Tokyo, Osaka and Nagoya
Stock Exchanges (1st division)
Aichi, JAPANhttp://www.aisin.co.jp
81 - 566 - 24 - 8265

Listed on

Code Number
7259
Representative
Reference person in charge

Location
Yasuhito Yamauchi, President
URL
Masaaki Yasui,
TEL
General Manager, Finance & Accounting Dept.
The expected date of a regular general meeting of shareholders
June 21, 2007
The expected date of dividends payment
June 22, 2007

１. Consolidated Results for FY2007（Apr. 1, 2006 through Mar.31, 2007）(1)Consolidated Financial Results
Net Sales
FY2007
FY2006（Amounts less than million yen are rounded down.）

Operating Income

Ordinary Income

Net Income

Million Yen％

Million Yen％

Million Yen％

Million Yen％

2,378,611
2,120,588

12.2
15.9

131,034
118,09611.0
24.2

134,287
125,096

7.3
27.1

66,88961,095

9.5
30.8

Earnings Per Share
FY2007
FY2006

Fully Diluted Earnings
Per Share

Ratio of Ordinary
Income to Total
AssetsReturn on Equity

Ratio of Operating
Income to Net Sales

Yen

Yen

％

％

％

233.03209.15232.71208.86

9.3
9.9

6.9
7.5

5.5
5.6

Note1 : Equity income
FY2007 : 6,302 million yen , FY2006 : 5,542 million yen
Note2 : Percentages for net sales, operating income, ordinary income and net income indicate changes from the same period of the previous year.

(2)Consolidated Financial Position
Total Assets

Shareholders' Equity

Million Yen

FY2007
FY2006

Shareholders' Equity Ratio Shareholders' Equity Per Share

Million Yen

2,037,896
1,853,458

955,853 ※678,881

％

Yen

37.2
36.6

2,662.78
2,361.66

Note1 : Equity capital
FY2007 : 758,743 million yen , FY2006 : － million yen
Note2 : The points marked ※ are based on new accounting principal. The numerical value replaced with the previous accounting principals are as follows.
Shareholders' Equity
761,112 million yen"Changes in Accounting Standards" has been described to "Basis of Presenting Consolidated Financial Statements" on page 14.

(3)Consolidated Cash Flows
From operating
activities

From investing
activities

From financing
activities

Cash and cash
equivalents
at end of year

Million Yen

Million Yen

Million Yen

236,614 )
215,495 )

13,361
36,834

136,307
128,212

Million Yen

FY2007
FY2006228,402
185,715((

２. Cash Dividends
Annual Cash Dividends Per Share
Interim dividend
FY2006
FY2007
FY2008(Forecast)

Final dividend

Total

Dividends total

Dividends
Payout Ratio

Ratio of Total Amountof Dividends toShareholders' Equuity

Yen

Yen

Yen

Million Yen

％

％

13
16

19
24

32
40

9,413
11,545

15.3
17.2

1.5
1.6

20

20

40

16.8

３. Consolidated forecast for FY2008 (Apr. 1, 2007 through Mar. 31, 2008)
Net Sales
1st Half of FY2008

FY2008Operating Income

Ordinary Income

Net Income

Earnings Per Share

Million Yen％

Million Yen％

Million Yen％

Million Yen％

Yen

1,200,000
2,500,000

7.1
5.1

58,000135,000

11.2
3.0

60,000137,000

9.7
2.0

28,50068,00015.5
1.7

100.02238.64Note : Percentages for net sales, operating income, ordinary income and net income indicate changes from the same period of the previous year.

-１-４. Others(1)Reshuffle of significant subsidiaries: No(2)Changes according to revision of accounting policy: Yes(3)Issued and outstanding capital stock① Number of shares issued as of the respective balance sheet date
FY2007 : 294,674,634 shares , FY2006 : 294,674,634 shares② Number of treafury stock
FY2007 : 9,730,145 shares , FY2006 : 7,701,168 shares③ Average number of shares issued and outstanding each period after adjustment
FY2007 : 287,038,636 shares , FY2006 : 286,628,374 shares

FY2007 Unconsolidated Financial Results(April 1, 2006 through March 31, 2007)
１. Unconsolidated Results for FY2007（Apr. 1, 2006 through Mar.31, 2007）(1)Unconsolidated Financial Results
Net Sales
FY2007
FY2006

Operating Income

Ordinary Income

Net Income

Million Yen％

Million Yen％

Million Yen％

Million Yen％

786,966
720,541

9.2
11.0

28,53835,220-19.0
10.3

36,80841,969-12.3
22.2

27,112
28,664-5.4
33.4

Earnings Per Share
FY2007
FY2006

Fully Diluted Earnings
Per Share

Yen

Yen

92.42
96.52

92.29
96.39

Note : Percentages for net sales, operating income, ordinary income and net income indicate changes from the same period of the previous year.

(2)Unｃonsolidated Financial Position
Total Assets
FY2007
FY2006Note : Equity capital

Shareholders' Equity

Shareholders' Equity Ratio Shareholders' Equity Per Share

Million Yen

Million Yen％

Yen

1,069,056
951,182441,595
445,84841.3
46.9

1,548.99
1,514.51

FY2007 : 441,427 million yen , FY2006 :− million yen

２. Unconsolidated forecast for FY2008 (Apr. 1, 2007 through Mar. 31, 2008)
Net Sales
1st Half of FY2008

FY2008Operating Income

Ordinary Income

Net Income

Earnings Per Share

Million Yen％

Million Yen％

Million Yen％

Million Yen％

Yen390,000
820,000

6.3
4.2

11,00030,00024.5
5.1

16,00038,00010.3
3.2

12,00027,500

7.2
1.4

42.11
96.50

Note : Percentages for net sales, operating income, ordinary income and net income indicate changes from the same period of the previous year.

※ 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 position
to be materially different from the forecasts expressed or implied in this report.

-２-

Management Policy
1. Management Policy
Based on the corporate principles of “Quality First”, AISIN Group offers its products andservices globally that would satisfy customers through “enhanced value creation,”“continuous global growth,” “harmony with society and nature” and “individual creativity andinitiative.” Through these policies, AISIN enhances its corporate values and contributes tostakeholders such as shareholders, local societies, business partners, and employees.
2. Medium-to Long-Term Management Strategies and Target Management Index
AISIN’s goal is to expand its market share in Japan and overseas in Drivetrain Related,
Brake & Chassis- Related, Body Related, and Engine Related business, and focuses ondeveloping system components to contribute to safety, environment, and comfort byutilizing its extensive lineup of automotive parts and technological capabilities for further
growth in Automotive Related Business, as well as expanding the Life & Energy Related
Business. Furthermore, AISIN would work to expand its operations in the global market by
enforcing production activities in the North America, China, Asia, and Europe. ConcerningLife & Energy Related Business, AISIN tries to develop new products and service inaccordance with changes of consumers’ needs on living.
AISIN regards 10% of ROE (Return On Equity) as one of the management targets, and tries
to enhance competitiveness while also pursuing capital efficiency.
3. Countermeasures
In terms of business environment, there are still many unstable factors such as surging
price of oil and materials, fluctuating foreign exchanges, and global scale competitions. To
overcome these obstacles, and to become a preeminent brand, AISIN plans to cope withthe problems appropriately and accelerate further growth through comprehensive groupcapabilities. The AISIN group companies will make efforts to develop new products
continuously and improve mono-zukuri (manufacturing expertise in value-added products),
which would bring ”Reliability and Impression” to their customers.
Additionally, the company would establish global supply network through further upgradingof production, R&D, and marketing worldwide in order to respond to its customers’ requests
quickly around the world.
To acquire trust from society, the AISIN aims to be a leader in environment preservation.
Through steady implementation of its five-year plan based on “the Fourth Environmental
Action Plan.” Aisin advocates environmental preservation and corporate citizenship suchas community building and development, protection of nature and the environment,
andfosteringofyouth,

while

makingearnestefforts

tobecomecompliantbusiness-wise, and for further growth and development in harmony with societies.

- ３ -Operating Results and Financial Position
1. Analysis of Operating Results
While automobile sales in major markets in the North America and Europe were stagnant due
to increasing price of oil, sales in the emerging markets such as China and India are
expanding rapidly, which resulted in a steady growth of worldwide automobile market.
Although Japanese automobile market was generally stagnant, production volume ofautomobile in Japan has surpassed previous year’s result the last five years because ofincreasing exports.
On the other hand, the Life & Energy related business has decreased because of intense
market competitions in Japan and overseas. In such situations, the AISIN group makes
efforts to develop new products corresponding to customers’ needs. Also it is expanding its
business in global market as well as conducting environment preservation and social
activities.
Regarding developments and marketing, drivers’ needs for their automobile have become
more diversified and sophisticated. Early recognition of changes in customer taste andfulfilling their demands appropriately is a crucial mission for auto components suppliers, theAISIN group tries to develop new technologies, new production methods, and new products,
focusing on safety, environment, and comfort, in order to provide all customers
with ”Reliability and Impression.” Additionally, while higher automotive technologies are
required by customers, the AISIN group companies cooperate to develop system products
through extensive lineup and expertise that they possess to create value added products.
In an effort to meet customers’ demands around the world, the AISIN is expanding its
production and supply structure in Japan and overseas. The AISIN AI Co. Ltd. builds a newplant(Kira-cho, Aichi) for enforcing production capacities of manual-transmissions. In the
United States, by the establishment of AISIN Mfg. California, LLC. AISIN will be able toincrease production of door frames. To meet customer demand in Canada, the second plantof the AISIN Canada Inc. will be built. This year in the United States and China, six
production sites are in their first year of operations.
The AISIN has completed the personnel development center next to the headquarter which
will focus on the development of personnel in the AISIN group that are necessary for its
global operations. The purpose of this center is to promote the development of personnel
within the AISIN Group systematically and efficiently such as to learn basic principles ofmono-zukuri, to master technical skills, to develop management skills, and to train employeesthat can operate on a global scale. Its main purpose is to promote education of the AISIN
technical academy that trains future leaders in production sites. Courses are arranged inaccordance with respective ranks from new employees to managers, common management- ４ -seminars, and trainings for new trainees from overseas subsidiaries could be done in thiscenter. At the same time, promoting “the AISIN WAY” to all AISIN personnel which is written
documents to define its corporate values and principles.
Based on the idea that business developments in harmony with nature and societies, andalso wholesome relations with stakeholders are vital, AISIN makes every possible efforts toachieve sustainable development in an international society. With regard to environmental
activities, based on the ISO14001 consolidated environment management system, theorganization actively promotes cogeneration system with higher energy efficiency, utilization
natural energy such as solar power system and wind power system, greenification of rooftops
in an attempt to save energy. From a product development point of view, AISIN is developing
new technologies and production methods that contribute to fuel efficiency and lightweightvehicles, as well as promoting the development of technologies for residential fuel cells andsolar cells.
As a result, sales of the autoparts segment increased 12.4% (¥2,278.8billion) compared withthe last fiscal year (¥2,027billion), in addition to increased sales for automatic transmissions,manual transmissions, car navigation system, and power sliding door system. Sales of theLife related and other products business increased 6.6% (¥99.7billion) compared with the last
fiscal year (¥93.5billion). Total sales increased 12.2% (¥2,378.6billion) compared to the last
fiscal year (¥2,120.5billion).
Despite surging material costs and depreciation and amortization expenses increase, therationalization activities to streamline and raise efficiency in all areas of operations throughcost reductions and other measures in addition to sales increase, resulted in a 11.0%
increase in operating income from ¥118.0billion to ¥131.0billion. Ordinary income increased
7.3% to ¥134.2billion. (Previous: ¥125.0billion) Net income increased 9.5% to ¥66.8billion.
(FY2006: ¥61.0billion)
The forecast for the next consolidated financial results, net sales, operating profit, ordinary
profit, and net income are ¥2,500.0billion, ¥135.0billion, ¥137.0billion, ¥68.0billion,
respectively, which takes into consideration the effects of taxation reform on depreciation andamortization. (Assumption of currency exchanges: 1USDollar=¥115, 1Euro=¥150)
2．Financial Position
For FY2007, cash flows provided by operating activities amounted to ¥228.4billion, cash
flows from investing activities was ¥236.6billion, cash flows provided by financing
activities amounted to ¥13.3billion and cash flows provided by translation adjustment ofcash and cash equivalents totaled ¥2.9billion. As a result, cash and cash equivalents asof Mar. 31, 2007 stood at ¥136.3billion, an increase of ¥8billion, or 6.3%, compared with
¥128.2billion as of Mar. 31, 2006.
[Cash Flows from Operating Activities]
Net cash provided by operating activities increased ¥42.6billion, or 23.0%, from- ５ -

¥185.7million to ¥228.4billion. The key factor for this rise in cash was an increase of¥9.1billion in income before income taxes and minority interest and increase of¥22.2billion in depreciation and amortization.
[Cash Flows from Investing Activities]
Net cash used in investing activities rose ¥21.1billion, or 9.8%, from ¥215.4billion
to ¥236.6billion. An increase in deposit and investments in securities resulted in adecrease in cash of ¥16.6billion. A decrease in cash of ¥5.6billion from ¥218.7billion
to ¥224.4billion was due to payments of purchase in property, plant and equipment.
[Cash Flows from Financing Activities]
Net cash provided by financing activities decreased ¥23.4billion from ¥36.8billion to¥13.3billion. The key factor was a decrease of ¥14.9billion in long-term borrowings
from ¥65.1biillion to ¥50.2billion and also a decrease of ¥10.0billion in the issuanceof corporate bonds.

Reference : Transition of index related to cash flows

Equity ratio（％）
Equity ratio to the publicstock market value（％）
Liabilities with interest to
cash flows（point）
Interest coverage ratio(magnification)

Apr.2002

Apr.2003

Apr.2004

Apr.2005

Apr.2006

throughthroughthroughthroughthroughMar. 2003

Mar. 2004

Mar. 2005

Mar. 2006

Mar. 2007

35.0

36.6

36.8

36.6

37.2

34.3

42.0

46.4

70.9

57.7

1.4

1.5

1.6

1.5

1.3

48.2

57.3

59.2

74.3

81.2

Equity ratio = Shareholders' Equity ÷ Total Assets
Equity ratio to the public stock market value = The public stock market value ÷ Total Assets
Liabilities with interest to cash flows =Liabilities with interest

÷ Cash flows

Interest coverage ratio = Cash flows ÷ Interest payment
Note1 : The above-mentioned data are calculated by the consolidated basis.
Note2 : The public stock market value are calculated based on the numbers of issued shares except
treasury stock.
Note3 : The operating cash flows is used for the cash flows.
Note4 : The interest-bearing debt includes all the debts to pay the interest of the debts summed upby the consolidated balance sheet.

- ６ -3. Basic Policy on the Distribution of Profits
Dividends to shareholders takes into consideration its policy of maintaining stable dividens
and other comprehensive range of factors that include the Group s business results and its
payout ratio.
As retained earnings, in order to secure shareholders’ profit, AISIN is planning to utilisethem for investment to expand its business worldwide and strengthen its competitiveness.

Overview of Associated Companies
This “Overview of Associated Companies” is omitted because there is no significant alterationfrom “Overview of Associated Companies” of FY2006 Consolidated Financial Reports issued
on June 23, 2006.

- ７ -Consolidated Net Sales by Item
（Million Yen）

Category

Engine Related
A
u
t
o
m
o
t
i
v
e
R
e
l
a
t
e
d

FY2006

FY2007(Apr. 2005 throughMar. 2006)
PercenAmount
tage(Apr. 2006 throughMar. 2007)
PercenAmount
tage

%

%

197,398

9.3

223,275

Increase(Decrease)

Variation
ratio

%

9.4

25,877

13.1%
Drivetrain Related

901,64442.5

1,014,016

42.6

112,372

12.5%
Brake & Chassis Related

425,18120.1

468,260

19.7

43,079

10.1%
Body Related

379,54917.9

433,21018.2

53,661

14.1%
Information Related

123,2315.8

140,053

5.9

16,822

13.7%
Sub Total

2,027,005

95.6

2,278,816

95.8

251,811

12.4%
Life & Energy Related

52,9882.5

51,592

2.2(

1,396 )

(

2.6 )

%
Others40,595

1.9

48,202

2.0

7,607

18.7

%
Grand Total

2,120,588

100.0

2,378,611

100.0

258,023

12.2

Note : Sales of Others includes Construction and Engineering Works Business” and Oil Sales Business”
and so on.

-８-Consolidated Statements of Income(Million Yen)
FY2006

FY2007(Apr.2005 throughMar.2006)(Apr.2006 throughMar.2007)Net Sales

2,120,588

2,378,611

258,023

Cost of Sales

1,829,682

2,060,667

230,985

Gross Profit

290,906

317,944

27,038Selling, General &Administrative Expenses

172,809

186,909

14,100Operating Income

118,096

131,034

12,938

Non-Operating Income

20,341

21,703

1,362

Interest & Dividend Income

3,926

4,735

809

Investment Profit on Equity
Method

5,542

6,302

760

Other Income

10,873

10,664

Non-Operating Expenses

13,341

18,4505,109Interest Expense

2,581

3,546

965

Other Expenses

10,76014,903

4,143

Ordinary Income

125,096

134,287

9,191

Income Before Income Taxes
and Minority Interest

125,096

134,287

9,191

Income Taxes-current

47,80051,765

3,965

Income Taxes-deferred

(

7,649

)

(

6,989

Increase(Decrease)

(

)

209 )

660

Minority Interest in Net Income

23,84922,622Net Income

61,09566,8895,794

Note : Depreciation and amortization

123,033

145,276

22,243-９-(

1,227 )

Consolidated Balance Sheets
FY2006(As of Mar. 31, 2006)（Million Yen）
Increase(Decrease)

FY2007(As of Mar. 31, 2007)〔 Assets 〕
Current Assets

694,030

767,369

73,339Cash and Cash Equivalents
Trade Notes & Accounts
Receivable
Marketable Securities

95,443

98,6283,185

336,864

363,726

26,86232,434

38,622

6,188

Inventories

148,782

168,762

19,980

Deferred Tax Assets

42,842

48,386

5,544

OthersLess: Allowance for Doubtful
Accounts

39,43849,974

10,536

732 )

1,043

1,159,428

1,270,526

111,098

Property, Plant & Equipment

777,763

839,192

61,429Buildings & Structures
Machinery, Equipment &VehiclesTools, Furniture & Fixtures

211,914240,051

28,137382,263

419,876

37,61337,78342,550

4,767

Land

85,32088,412

3,092

Construction in Progress

60,481

48,301

10,24916,139

5,890

―

3,566

3,566

Software

7,911

10,0682,157

Others

2,338

2,504

166

Investments & Other Assets

371,415415,194

43,779Investments in Securities

319,716

357,422

37,706Long-term Loans

4,314

4,259

Deferred Tax Assets

21,45024,228

2,778

OthersLess: Allowance for Doubtful
Accounts

26,38829,773

3,385(

Fixed Assets

Intangible Fixed Assets
Consolidation Adjustments(

1,775 )

455 )

(

(

488 )

(

(

(

12,180 )

55 )

33 )

Total Assets

1,853,458

2,037,896

184,438

Note: 1. Accumulated depreciation
2. Guarantees on Liability

1,244,250
1,994

1,343,154
344

98,904
1,650 )

- １０ -(

FY2006(As of Mar. 31, 2006)

FY2007(As of Mar. 31, 2007)

639,100

679,070

39,970327,176

359,873

32,69746,88730,518150

15,00070,516
117,499
31,78347,907130,345
41,647

16,781

16,883102

14,461
13,843

16,133
20,761

1,672
6,918

363,294
35,500176,81163,609402,972
20,000221,076
72,62784,75086,978

2,542

1,052

80
―
1,002,394

121
1,116
1,082,042

41
1,116
79,648551,732
45,04963,262445,241
1,820 )

602,382
45,04957,891
501,0091,567 )

50,650―5,371 )
55,768253〔 Liabilities 〕
Current Liabilities
Trade Notes& Accounts Payable
Short-term Borrowings
Current Portion of Bonds
PayableAmount in Arrears
Accrued Expenses
Accrued Income Taxes
Deposits Received from
Employees
Accrued Warranty Cost
OthersLong-term Liabilities
Bonds Payable
Long-term Debt
Deferred Tax Liabilities
Allowance for Employees
Retirement Benefits
Long-term Accrued
Expenses
Consolidation Adjustments
OthersTotal Liabilities〔 Net Assets 〕
Shareholders' Equity
Common Stock
Capital Surplus
Retained Earnings
Less:Treasury Stock, at Cost
Evaluation andConversion Difference
Net Unrealized Gain on
Available-for-sale Securities
Profit & Loss of Deferral
Hedge Accounting
Foreign Currency
Translation Adjustments
Subscription Warrant
Minority Interest
Total Net Assets
Total Liabilities
and Net Assets（Million Yen）
Increase(Decrease)

(

(

(

16,369 )14,850((22,609 )12,846
9,864

39,67815,500 )44,265
9,018
2,228

(

(

1,490 )

127,148

156,361

29,213

123,720

145,136

21,416

―

(

667 )

(

667 )

3,427

11,892

8,465―
172,183
851,064

167
196,941
955,853167
24,758104,789

1,853,458

2,037,896

184,438- １１ -

Consolidated Statements of Changes in Shareholders' Equity（Million Yen）

FY2007 （Apr. 2006 through Mar. 2007）
Shareholders' Equity

Balance as of Mar. 31, 2006

Evaluation and Conversion Difference

CommonStockCapitalSurplusRetained
Earnings

Less:
Treasury
Stock,
at Cost45,04963,262445,241( 1,820 ) 551,732

Sub Total

Net Unrealized Profit & Loss
Foreign
Gain onof Deferral
Currency
Available-forHedge
Translation
sale Securities Accounting Adjustments

123,720―

3,427

Subscription
Warrant
Sub Total

Minority
Interest

Total
Net
Assets127,148

172,183

851,064―

Increase(Decrease)
in FY2007((

Dividends Paid
Bonus of Directors and Corporate Auditors
Net Income
Change according to internal dealings ofcommon stock for treasury

9,958 )
1,162 )
66,889( 6,057 )Purchase of Treasury Stock((

9,958 )
1,162 )
66,889(445 ) (

6,503 )(

18 ) (
717

18 )
1,403

686

Disposal of Treasury Stock
Net Change of items other thanShareholders' Equity
Total Changes in the Term
Balance as of Mar. 31, 2007―
45,049( 5,371 ) 55,768
57,891 501,009

253
50,649( 1,567 ) 602,382

Type of shares

Number as of Mar. 31, 2006

Increase

Common stock

7,701,168(((

9,958 )
1,162 )
66,8891,809 ) (8,312 )

(

18 )
1,403

21,415

(

667 )

8,464

29,212

167

26,56855,94821,415
145,136

(
(

667 )
667 )

8,464
11,892

29,212
156,361

167
167

24,758
196,941

104,788955,853

Note : Type and number of treasury stock

Reason for changes（Shares）
Decrease

2,741,073（Increase）

Share belong to minority when purchasing from consolidated subsidiaries
Request for purchase of less-than-one-unit shares
Change in proportionate interest（Decrease）

Exercise of stock option
Share belong to AISIN when selling to market from consolidated subsudiaries
Request for additional sales of less-than-one-unit shares

Number as of Mar. 31, 2007

712,096

9,730,145

2,732,297 shares
8,757
19
698,200
13,168728

Reference: Consolidated Statements of Changes in Shareholders' Equity of FY2006
which are based on the same accounting standards as FY2007
FY2006 （Apr. 2005 through Mar. 2006）（Million Yen）
Shareholders' Equity

Balance as of Mar. 31, 2005

Evaluation and Conversion Difference

CommonStockCapitalSurplusRetained
Earnings

Less:
Treasury
Stock,
at Cost45,04963,061

392,836( 3,116 ) 497,829

Sub Total

Net Unrealized Profit & Loss
Foreign
Gain onof Deferral
Currency
Available-forHedge
Translation
sale Securities Accounting Adjustments

66,597―( 11,674 )Sub Total

Subscription
Warrant

Minority
Interest

Total
Net
Assets54,922―

145,693

698,445

Increase(Decrease)
in FY2006((

Dividends Paid
Bonus of Directors and Corporate Auditors
Net Income

7,663 )
1,027 )
61,095

7,663 )
1,027 )
61,095(23 ) (
23 )
1,319
1,521

52,405445,241

1,295
53,902( 1,820 ) 551,732

Purchase of Treasury Stock201

Disposal of Treasury Stock
Net Change of items other thanShareholders' Equity
Total Changes in the Term
Balance as of Mar. 31, 2006―
45,049201
63,262((- １２ -((

7,663 )
1,027 )
61,095(23 )
1,521
57,123―

15,102

72,225―26,49098,716

57,123
123,720――

15,102
3,427

72,225
127,148――

26,490172,183

152,618
851,064

Consolidated Statements of Cash Flows（Million Yen）

Ⅰ Cash flows from operating activities
Income before income taxes and minority interest
Depreciation and amortization
Increase(Decrease) in allowance for retirement benefits
Interest and dividend income
Interest expenses
Return on investment by equity method
Loss on disposal of property, plant and equipment(Increase)Decrease in trade notes and accounts receivable(Increase)Decrease in inventories
Increase(Decrease) in trade notes and accounts payable
OthersSubtotalInterest and dividend income received
Interest paid
Income taxes paid
Net cash provided by operating activities

FY2006

FY2007(Apr. 2005 throughMar. 2006)(Apr. 2006 throughMar. 2007)

125,096
123,033
2,785
3,926 )
2,581
5,542 )
3,716
46,720 )23,493 )59,047
13,694 )222,885
4,747
2,498 )
39,419 )
185,715

134,287
145,276
2,186
4,735 )
3,546
6,302 )
5,687
20,736 )14,423 )26,186769 )
270,202
5,753
2,814 )
44,738 )
228,402

(
(
(
(
(

(
(

(
(
(
(
(

(
(

Increase(Decrease)

(
(
(

(

(
(

9,191
22,243
599 )
809 )
965
760 )
1,971
25,9849,070
32,861 )12,92547,317
1,006
316 )
5,319 )
42,687

Ⅱ Cash flows from investing activities(Increase)Decrease in time deposit and short-term investments

Payments for purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Payments for purchase of investments in securities((

Payments for acquisition of subsidiaries' stock
resulting in change in scope of consolidation

Proceeds from sales of investments in securities
Proceeds upon maturity of security investments
Repayments for loans madeProceeds from collections of loans
OthersNet cash used in investing activities
Ⅲ Cash flows from financing activities
Increase(Decrease) in commercial paper andshort-term borrowings
Proceeds from long-term debt
Repayments of long-term debt
Proceeds from issuance of bonds payable
Repayments of bonds payable
Contributions from minority shareholders
Cash dividends paid
Cash dividends paid for minority shareholders
Payments for purchase of treasury stock
Proceeds from disposal of treasury stock
Net cash provided by (used in) financing activities

10,074
218,753 )
4,113
9,433 )
―

(
(

2,506
1,086
1,067 )
1,009
5,031 )
215,495 )(

22,598 )

(

(

(
(
(

Ⅳ Translation adjustment of cash and cash equivalents
Ⅴ Net increase in cash and cash equivalents
Ⅵ Cash and cash equivalents at the beginning of the year
Ⅶ Cash and cash equivalents at the end of the year

65,187
7,688 )
10,000―671
7,659 )
2,568 )
29 )
1,521
36,834((

6,575 )
224,433 )
7,850
11,708 )2,085 )

(
(

(

(
(

1,396
5,496
1,399 )
938
6,092 )
236,614 )(5,299 )

(
(

(

(
(
(
(
(

4,757
11,811
116,401
128,212

(
(

(
(
(
(

16,649 )5,680 )
3,737
2,275 )
2,085 )
1,110 )
4,410
332 )
71 )
1,061 )
21,119 )17,29950,20918,995 )―650 )52
9,952 )
3,663 )
33 )
1,695
13,361

(
(
(
(
(
(
(
(

2,946
8,094
128,212
136,307(((

14,978 )11,307 )10,000 )
650 )
619 )
2,293 )
1,095 )
4 )174
23,473 )1,811 )
3,717 )
11,811
8,095

Note: Reconciliation between Cash & Cash Equivalents and accounts on the consolidated balance sheet#
95,443
98,6283,185
Cash and Cash Equivalents
Marketable Securities
Other Current Assets
Subtotal
Saving accounts over three months

Short-term investments of over three months until due date
Other current assets beside Cash & Cash Equivalents(((

Cash and Cash Equivalents- １３ -

32,43439,438167,316
2,051 )
6,649 )
30,402 )128,212(((38,622
49,974
187,225
4,986 )
10,666 )35,265 )136,307

(
(
(

6,188
10,536
19,9092,935 )
4,017 )
4,863 )
8,095

Basis of Presenting Consolidated Financial Statements
This “Basis of Presenting Consolidated Financial Statements” is omitted because there is no significant alterationfrom that of FY2006 Consolidated Financial Reports issued on June 23, 2006, except the followings.

〔Changes in Accounting Standards〕（Accounting standard for directors’ bonus）
Effective from FY2007, AISIN adopted “Accounting standard for directors’ bonus” (AccountingStandards Board of Japan Statement No. 4, issued by the Accounting Standards Board of Japan on
Nov. 29, 2005). As a result, income before income taxes and minority interest decreased ¥1.7billion.
And at “Geographical Segments” of “Segment Information,” Operating income of Japan decreasedsame amount.
（Accounting standard and guidance presentation of net assets in the balance sheet）
Effective from FY2007, AISIN adopted “Accounting standard for presentation of net assets in thebalance sheet” (Accounting Standards Board of Japan Statement No. 5, issued by the AccountingStandards Board of Japan on Dec. 9, 2005) and Guidance on accounting standard for presentation of
net assets in the balance sheet” (Accounting Standards Board of Japan Guidance No. 8, issued by the
Accounting Standards Board of Japan on Dec. 9, 2005).
As a result, in the consolidated balance sheets, conventional total shareholders equity andminority interests have been changed to total net assets, and total net assets is indicated byclassifying shareholders' equity,
evaluation and conversion difference,subscription warrant
and minority interests.
Additionally “Loss of Deferral Hedge Accounting” and “Profit of Deferral Hedge Accounting,” thosewere indicated including “total assets” and “total liabilities” in the consolidated balance sheets at
FY2006 and FY2006 Half year, have been indicated as net “Profit & Loss of Deferral Hedge
Accounting” of “evaluation and conversion difference” since FY2007 Half year.
（Accounting standard and guidance for stock options）
Effective from FY2007, AISIN adopted “Accounting standard for stock options” (Accounting Standards
Board of Japan Statement No. 8, issued by the Accounting Standards Board of Japan on Dec. 27,
2005) and “Guidance on Accounting standard for stock options” (Accounting Standards Board ofJapan Guidance No. 11, last revised by the Accounting Standards Board of Japan on May 31, 2006).
As a result, income before income taxes and minority interest decreased ¥167 million. And at“Geographical Segments” of “Segment Information,” Operating income of Japan decreased sameamount.

The Notes such as lease transactions, stock-option, and derivatives are omitted since there is no significant
importance in financial summary.

− １４ −

Segment Information
１．Industry Segments
AISIN's main business is manufacturing and sales of automotive parts. The amount of sales andoperating income in this business occupies over 90% of these in all segments.
Therefore information of industry segments is omitted.
２．Geographical Segments
FY2007 （Apr. 2006 through Mar. 2007）
North
America

EuropeOthers373,537

174,837

161,673 2,378,611

314,019

9,143

6,524

Total
1,982,582
Operating Costs & Expenses 1,883,567
99,015
Operating Income
1,837,711
Ⅱ Assets

382,680
374,592
8,088
265,182

181,362
177,452
3,910
99,488Japan
Ⅰ Sales and Operating Income
Sales
1,668,562(1) Customers(2) Inter‑segment

8,717

Total

170,390 2,717,016
149,550 2,585,162
20,840 131,854
152,119 2,354,502

North
America

EuropeOthers348,156

142,643

113,397 2,120,588

299,070

9,336

5,430

1,815,462
1,716,252
99,2091,696,261

357,492
352,8124,679
250,054

148,074
147,463610
82,800Ⅰ Sales and Operating Income
Sales
1,516,392(1) Customers(2) Inter‑segment
Total
Operating Costs & Expenses
Operating Income
Ⅱ Assets

7,954―

338,404 ( 338,404 )FY2006 （Apr. 2005 through Mar. 2006）
Japan（Million Yen）
Elimina‑ Consoli‑
tions
dated

Total

( 338,404 )( 337,584 )819 )(( 316,606 )―2,378,611
2,247,577
131,034
2,037,896（Million Yen）
Elimina‑ Consoli‑
tions
dated

―

321,791 ( 321,791 )

121,351 2,442,380
106,747 2,323,276
14,603 119,103
123,070 2,152,188

2,378,611( 321,791 )( 320,785 )( 1,006 )( 298,729 )

2,120,588―
2,120,588
2,002,491
118,096
1,853,458

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

U.S.A., Mexico
Belgium, Czech
Thailand, China

3.The influences that the changes in accounting standards give Segment Information are
described at Change in Accounting Standards.

- １５ -

３．Sales by Customer Location
FY2007 （Apr. 2006 through Mar. 2007）（Million Yen）

North America

EuropeOthers

Total

Overseas Sales

415,763

205,129

237,637

858,530

Net Sales―――

2,378,611

Overseas Sales
Ratio to Net Sales

17.5 ％

8.6

％

10.0

％

FY2006 （Apr. 2005 through Mar. 2006）

36.1 ％（Million Yen）

North America

EuropeOthers

Total

Overseas Sales

377,540

173,878

162,585

714,004

Net Sales―――

2,120,588

Overseas Sales
Ratio to Net Sales

17.8

Note: Main countries are① North America :② Europe:③ Others
:

％

8.2

％

7.7

U.S.A., Mexico
Germany, Sweden
Thailand, China, South Korea- １６ -％

33.7％