FY2011 Consolidated Financial Results [Japanese Standard］(April 1, 2010 through March 31, 2011)

AISIN SEIKI Co., Ltd.

Company Name

April 28, 2011
The Tokyo and Nagoya
Stock Exchanges (1st division)

Listed on

Code Number
URL
Representative
Contact person7259
http://www.aisin.com/
Fumio Fujimori, President+81 - 566 - 24 - 8265
Katsumi Asakura
TEL
General Manager, Finance & Accounting Dept.
The scheduled date of the annual regular general meeting of shareholders: June 21, 2011
Scheduled filing date for quarterly reporting on EDINET: June 22, 2011
Additional documents to supplement quarterly financial results: Yes (Japanese only)
IR presentation: Yes (For analysts and professional investors)
The expected date of dividends payment: June 22, 2011
（Amounts less than million yen are rounded down.）

１. Consolidated Results for FY2011（Apr. 1, 2010 through Mar. 31, 2011）(1)Consolidated Financial Results
Net Sales
FY2011FY2010Operating Income

Ordinary Income

Net Income

Million Yen％

Million Yen％

Million Yen％

Million Yen％

2,257,436
2,054,474

9.9
-7.2

137,266
87,54656.8―

147,894
94,94255.8―

69,643
16,605319.4―

Note : Comprehensive income FY2011: 70,877 million yen (8.9%), FY2010: 65,102 million yen (－%)

Earnings Per ShareFY2011FY2010
Reference : Equity income

Fully Diluted Earnings
Per Share

Return on Equity

Ratio of Ordinary
Income to Total Assets

Ratio of Operating
Income to Net Sales

Yen

Yen

％

％

％

247.4659.00

247.34
―

10.4
2.6

7.5
5.1

6.1
4.3

FY2011 : 7,832 million yen , FY2010 : 4,600 million yen(2)Consolidated Financial Position

FY2011FY2010Net assets excluding
subscription rights to sharesand minority interests as apercentage of total assets

Total Assets

Net Assets

Million Yen

Million Yen％

1,978,225
1,981,988

917,704
871,889

34.7
33.1

Reference : Net assets excluding subscription rights to shares and minority interests

Net assets excluding
subscription rights to sharesand minority interests
per shareYen

2,440.39
2,328.68

FY2011 : 686,818 million yen, FY2010 : 655,369 million yen(3)Consolidated Cash Flows
From operating
activities

From investing
activities

From financing
activities

Cash and cash
equivalents
at the end of FY

Million Yen

Million Yen

Million Yen

Million Yen

273,627
303,788

14,833-331,630-63,932
34,817372,179
152,727

FY2011FY2010２. Cash Dividends
Annual Cash Dividends Per ShareFY Total

1st quarter 2nd quarter 3rd quarter 4th quarter
Yen

FY2010FY2011FY2012(Forecast)

Yen

Yen

Dividends total

Yen

Yen

―
―

10.00
25.00

―
―

20.00
25.00

30.00
50.00

―

―

―

―

―

Dividends
Payout Ratio

Ratio of Total Amountof Dividends toShareholders' Equity

Million Yen

％

％

8,444
14,073

50.8
20.2

1.3
2.1

―

Note : At present, FY2012 quarterly dividend amount has not yet been determined.

３. Consolidated forecast for FY2012 (Apr. 1, 2011 through Mar. 31, 2012)
Forecast for FY2012 can not be disclosed at this point due to Great East Japan Earthquake which occurredon March 11th 2011 resulting in supply disruptions. Forecast will be disclosed at a later date after
assessing the above situation.
-1-４. Others(１)Changes in significant subsidiaries： None(2)Changes in Accounting Policies and Presentation①Changes according to revision of accounting standard ： Yes②Other changes： None(3)Issued and outstanding capital stock
Number of shares issued as of the①
respective balance sheet date
Number of treasury stock as of the②
respective balance sheet date
③ Average number of common stocks

FY2011

294,674,634 shares

FY2010294,674,634 shares

FY2011

13,236,044 shares

FY201013,241,461 shares

FY2011

281,431,104 shares

FY2010281,453,449 shares※ Explanation regarding the review procedure
At the time of this submission we are currently in process of being reviewed for the year-end securities report.
※ Explanation regarding the appropriate use of forecasts, and other statements(Note concerning forecast)
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 orfinancial position to be materially different from the forecasts expressed or implied in this report.
(Note concerning dividend)
The Company's stable dividend policy takes into account the overall consideration of business performance, payout ratio,
and other performance factors. However, due to the uncertain business environment, AISIN will propose dividend amount toshareholders after taking into consideration of future financial results.

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2

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Consolidated financial statements(１） Consolidated balance sheets（Million Yen）

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
Deferred tax assets
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, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Lease assets
Accumulated depreciation
Lease assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

-

3

-

FY2010(As of Mar. 31, 2010)

FY2011(As of Mar. 31. 2011)

282,538
312,372
73,54069,30933,15639,37358,92959,360-448
928,135

262,987
254,499
149,997
71,30940,08937,95357,75359,541-307
933,825

557,721-314,387
243,333
1,360,354-1,037,690
322,663261,725-233,880
27,845
103,320
821
-221
599
23,759721,520
15,458574,632-331,904
242,728
1,320,639-1,046,153
274,485
256,301-229,380
26,921
113,019
1,521
-558
962
35,490693,608
15,107

244,855
37,49334,991-466
316,874
1,053,853
1,981,988

262,308
40,52833,314-467
335,683
1,044,399
1,978,225

（Million Yen）

Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Current portion of bonds
Lease obligations
Accrued expenses
Income taxes payable
Provision for product warranties
Other provision
Other
Total current liabilities
Noncurrent liabilities
Bonds payable
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for retirement benefits
Provision for directors' retirement benefits
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total accumulated other comprehensive income
Subscription rights to shares
Minority interests
Total net assets
Total liabilities and net assets

-

4

-

FY2010(As of Mar. 31, 2010)

FY2011(As of Mar. 31. 2011)

296,788
35,76810,000212
144,846
30,56819,3781,370
58,504597,436

276,310
25,573
10,063－
152,737
21,323
19,4362,108
68,476
576,029

79,990313,631499
20,90587,911
6,090
3,631
512,662
1,110,099

70,275
292,639－－
91,9486,099
23,529484,491
1,060,521

45,04958,831
546,218-20,783
629,31545,04958,836603,195-20,784
686,296

58,845-1,337-31,454
26,053
1,538
214,981871,889
1,981,988

50,594-1,358-48,713522
2,143
228,741
917,704
1,978,225

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

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Freightage and packing expenses
Provision for product warranties
Salaries and allowances
Provision for directors' bonuses
Provision for directors' retirement benefits
Other
Total 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
Loss on sales and retirement of noncurrent assets
Other
Total non-operating expenses
Ordinary income
Extraordinary loss
Impairment loss
Total extraordinary losses
Income before income taxes and minority interests
Income taxes-current
Income taxes-deferred
Total income taxes
Income before minority interests
Minority interests in income
Net income

-

5

-

FY2010(Apr. 1, 2009 throughMar. 31, 2010)
2,054,474
1,791,771
262,703

FY2011(Apr. 1, 2010 throughMar. 31, 2011)
2,257,436
1,938,035
319,400

28,715
5,353
48,7501,212
949
90,174
175,156
87,54632,0252,420
51,2401,798
1,116
93,531
182,134
137,266

562
2,108
4,600
17,67324,944

1,333
2,428
7,832
16,71328,308

6,066
3,609
7,872
17,54994,942

5,841
3,810
8,028
17,680147,894

37,27637,276
57,66534,598-15,172
19,425－
21,634
16,605－－
147,894
43,5203,144
46,664
101,229
31,586
69,643

(Consolidated statements of comprehensive income)（Million Yen）

Income before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Share of other comprehensive income of associates
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income break downComprehensive income attributable to owners of theparentComprehensive income attributable to minority interests

-

6

-

FY2010(Apr. 1, 2009 throughMar. 31, 2010)

FY2011(Apr. 1, 2010 throughMar. 31, 2011)－

101,229－－－-8,422-15-21,097

－
－
－

-816
-30,352
70,877－－

44,112
26,765

(３） Consolidated statements of changes in shareholders' equity（Million Yen）

FY2010FY2011(Apr. 1, 2009 through (Apr. 1, 2010 throughMar. 31, 2010)
Mar. 31, 2011)
Shareholders' equity
Capital stock
Balance at the end of previous period
Balance at the end of current period
Capital surplus
Balance at the end of previous period
Changes of items during the period
Disposal of treasury stock
Total changes of items during the period
Balance at the end of current period
Retained earnings
Balance at the end of previous period
Changes of items during the period
Dividends from surplus
Net income
Total changes of items during the period
Balance at the end of current period
Treasury stock
Balance at the end of previous period
Changes of items during the period
Purchase of treasury stock
Disposal of treasury stock
Total changes of items during the period
Balance at the end of current period
Total shareholders' equity
Balance at the end of previous period
Changes of items during the period
Dividends from surplus
Net income
Purchase of treasury stock
Disposal of treasury stock
Total changes of items during the period
Balance at the end of current period

-

7

-

45,04945,04945,04945,04958,831

58,831-0-058,831

4
4
58,836535,242546,218-5,62916,605
10,975546,218-12,665
69,64356,977603,195-20,724-20,783-60
1-58-20,783-23
21-1-20,784

618,398

629,315-5,62916,605-60
110,917629,315-12,665
69,643-23
26
56,981
686,296（Million Yen）

FY2010FY2011(Apr. 1, 2009 through (Apr. 1, 2010 throughMar. 31, 2010)
Mar. 31, 2011)
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Balance at the end of previous period
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at the end of current period
Deferred gains or losses on hedges
Balance at the end of previous period
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at the end of current period
Foreign currency translation adjustment
Balance at the end of previous period
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at the end of current period
Total valuation and translation adjustments
Balance at the end of previous period
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at the end of current period
Subscription rights to shares
Balance at the end of previous period
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at the end of current period
Minority interests
Balance at the end of previous period
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at the end of current period

-

8

-

41,84358,84517,001
17,001
58,845-8,250-8,25050,594-1,330-1,337-6-6-1,337-21-21-1,358-38,902-31,454

7,448
7,448
-31,454-17,259-17,259-48,7131,610

26,05324,442
24,442
26,053-25,531-25,531
522

1,016

1,538

522
522
1,538

604
604
2,143

193,481

214,981

21,50021,500214,981

13,76013,760228,741（Million Yen）

FY2010FY2011(Apr. 1, 2009 through (Apr. 1, 2010 throughMar. 31, 2010)
Mar. 31, 2011)
Total net assets
Balance at the end of previous period
Changes of items during the period
Dividends from surplus
Net income
Purchase of treasury stock
Disposal of treasury stock
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at the end of current period

-

9

-

814,506

871,889-5,62916,605-60
146,46557,382871,889-12,665
69,643-23
26-11,166
45,814
917,704

(4） Consolidated statements of cash flows（Million Yen）

FY2010FY2011(Apr. 1, 2009 through (Apr. 1, 2010 throughMar. 31, 2010)
Mar. 31, 2011)
Net cash provided by (used in) operating activities
Income before income taxes and minority interests
Depreciation and amortization
Impairment loss
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) refund
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing 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) investing activities
Net cash provided by (used in) financing activities
Increase (decrease) in short-term bank loans and commercial papers
Proceeds from long-term loans payable
Repayment of long-term loans payable
Proceeds from issuance of bonds
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

-

10

-

57,665
169,667
37,276-111,593
6,032
104,381
30,132
293,563
3,166-5,87812,936
303,788

147,894
144,831－
48,325-13,666-9,88012,130329,635
4,824-5,564-55,266
273,627-197,514-105,713
5,290-38,309
8,328-3,713-331,630

174,450-117,956
3,384-54,163
14,983-5,864
14,833-6,871
59,785-29,591
20,000－-5,634-2,645-224
34,817
1,947
8,923
143,804
152,727-3,88858-27,270－-10,039-12,666-9,642-484-63,932-5,076
219,451
152,727
372,179

(5） Segment information【Industry segments】
AISIN's main business is manufacturing and selling of automotive parts. Over 90% of sales, operating
income and assets derive from this segment.
Therefore information of industry segments is omitted.
【Geographical segments】（Million Yen）
FY2010(Apr. 1, 2009 through Mar. 31, 2010)
North
Asia andElimina- ConsoliJapan
EuropeTotal
America
Otherstions
dated
Net sales
1,505,919 219,059 134,121 195,374 2,054,474― 2,054,474(1) Sales to third parties(2) Inter-segment
Total
Operating Costs & Expenses
Operating Income or Loss
Assets221,237

13,8886,548

1,727,157
1,663,396
63,7601,545,197

232,947
235,773-2,825
180,962

140,669
139,330
1,339
84,1496,295

247,970

201,669 2,302,444
174,826 2,213,326
26,843
89,117
195,576 2,005,886-247,970―-247,970 2,054,474-246,398 1,966,927-1,57187,546-23,897 1,981,988

Note: 1. Geographical segments are determined according to geographical closeness.
2. Main countries areNorth America: U.S.A., Mexico
Europe: Belgium, Czech
Asia and Others: China, Thailand【Sales by customer location】
FY2010 (Apr. 1, 2009 through Mar. 31, 2010)（Million Yen）

North America
Overseas sales
Net sales
Overseas sales
ratio to net sales(%)

EuropeAsia and Others

Total

250,000

152,427

348,766

751,194―――

2,054,474

12.2

7.4

17.0

36.6

Note: 1. Geographical segments are determined according to geographical closeness.
2. Main countries areNorth America : U.S.A., Canada
Europe: Germany, Sweden
Asia and Others : China, Thailand, South Korea

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11

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【Segments information】(Additional information)
Effective from this Fiscal Year, the Company adopted "Accounting Standard for Disclosures about
Segments of an Enterprise and Related Information" (ASBJ Statement No. 17 issued on March 27, and"Guidance on Accounting Standard for Disclosures about Segments of an Enterprise and RelatedInformation"(Guidance No. 20 issued on March 21, 2008).
1. General information about reportable segments
The reportable segments of the Group are components for which financial information is available
and whose operating results are periodically reviewed by the Board of Directors to make decisions
about allocation of resources and to assess performance.
Majority of the Group's (composed by the company and its core subsidiaries ) business is production
and sales of automotive parts. The business is divided into four core segments and the strategy considering
overall domestic and oversea operation for its sales and service is controlled mainly by Company and its
three core subsidiaries. Therefore reportable segments and its product and service is as follows.
Segment
Product and service
Overall automotive parts and related service, Lifestyle & Energy related
AISIN Seiki GroupAISIN Takaoka Group Mainly cast-iron parts for engines and brakes
AISIN AW Group
Mainly automatic transmissions and car navigation systems
ADVICS Group
Mainly brake parts

1. Sales and profit by reportable segments【Group segments】
FY2010(Apr. 1, 2009 through Mar. 31, 2010)
Aisin
Seiki
Group
Net sales(1) Sales to third parties（Million Yen）

Group Segments
Aisin
Aisin AW Advics
Takaoka
Group
Group
Group

790,790

97,986

734,583(2) Inter-segment

298,909

81,161

3,310

Total
Segment profits (loss)

1,089,699
30,871

179,148
6,812

737,894
44,387

Total

325,968 1,949,329
2,134

385,516

328,102 2,334,846
5,177
87,249OthersTotal

105,144 2,054,474
40,515426,031

145,660 2,480,506-171
87,078

Note: Others includes ommited non-core groups that manufactures and sells automotive parts
FY2011(Apr. 1, 2010 through Mar. 31, 2011)
Aisin
Seiki
Group
Net sales(1) Sales to third parties（Million Yen）

Group Segments
Aisin
Aisin AW Advics
Takaoka
Group
Group
Group

Total

OthersTotal

825,773

120,945835,375

355,869 2,137,964

119,471 2,257,436(2) Inter-segment

247,904

89,621

19,16827,33046,213

Total
Segment profits (loss)

1,073,677
53,722

210,567
14,101

854,543
61,342

383,200 2,521,988
3,714 132,879

384,023

165,685 2,687,673
5,791 138,671

Note: Others includes ommited non-core groups that manufactures and sells automotive parts

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12

-

430,237

2. Discrepancy between reportable segments and consolidated financial statements（Million Yen）

Sales

FY2010FY2011

Reportable Segment Total

2,334,846

2,521,988"Others" Sales

145,660

165,685

Inter-segment elimination
Consolidated finacial statement(Sales)-426,031-430,237

2,054,474

2,257,436（Million Yen）

Profit

FY2010FY2011

Reportable Segment Total

87,249132,879"Others" profit

-171

5,791

Inter-segment elimination

360-1,480

Other adjustment
Consolidated finacial statement(Operating profit)

108

76

87,546137,266-

13-

(Amounts per share)(1) Net assets excluding sharesubscription warrant and minority
interest per share（Yen）(2) Earnings per share（Yen）(3) Fully diluted earnings per share（Yen）

FY2010(Apr.2009 throughMar.2010)

FY2011(Apr.2010 throughMar.2011)

2,328.68

2,440.39

59.00

247.46

No dilutive effects

247.34Note : Bases for calculation
1. Net assets excluding share subscription warrant and minority interest per share
FY2010FY2011(As of Mar. 31. 2010) (As of Mar. 31. 2011)
Total net assets（in Million Yen）
871,889
917,704
Amounts deducted from total net assets
216,520
230,885（in Million Yen）
Subscription warrant（1,538）（2,143）
Minority interests
Total net assets related to common stock（in Million Yen）
Number of common stocks used to determine equity
per share（thousand shares）（214,981）（228,741）

655,369

686,818

281,433

281,438

2. Earnings Per Share and Fully Diluted Earnings Per ShareFY2010(Apr.2009 throughMar.2010)
Earnings per share
Net income or loss
16,605
Amount that doesn't belong to thecommon―stockholders（in Million Yen）
Net income or loss related to common stock
16,605（in Million Yen）
Number of average common Stocks
281,453（thousand shares）
Fully diluted earnings per share
Adjustment in net income （in Million Yen）―
Increase in common stocks（thousand shares）―(Subscription warrant（thousand shares）)
―

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14

-

FY2011(Apr.2010 throughMar.2011)
69,643―69,643
281,431

―
139
(139)

(Significant subsequent events)
FY2011 (Apr. 1, 2010 through Mar. 31, 2011)(Changes in significant subsidiaries)
To meet demand of automatic transmissions in China, Aisin AW established a wholly owned subsidiarycompany on Apr. 11, 2011.
The capital amount of the subsidiary exceeds 10 percent of the Company's capital therefore qualifies asa specified subsidiary.
<Overview of the new subsidiary>（1） Company Name: AW SUZHOU CO., LTD.
（2） Location: Suzhou City, Jiangsu Province, China（3） Description of business: Production and sales of automatic transmissions and related components（4） Capital: 100 million US Dollars（5） Aisin AW Co., LTD. acquisition price and investment ratio
Acquisition price
100 million US dollars
Investment ratio
100.0%-

15-