Management Team(As of August 1, 2019)

Directors
Yasusuke Nakajima1

Masao Ono1

Director, Chairman

Representative Director, President Executive Officer

1979 Joined the Company
2005 Member of the Board of Directors; General Manager,
Hydraulics Sales & Marketing Headquarters, HydraulicComponents Operations
2007 Member of the Board of Directors; General Manager,
Hydraulics Sales Headquarters, Hydraulic Components
Operations
2009 Managing Member of the Board of Directors; GeneralManager, Hydraulic Components Operations
2010 Senior Managing Member of the Board of Directors
2011 Member of the Board of Directors, Senior Managing
Executive Ofﬁcer
2015 Representative Director, President Executive Ofﬁcer
2018 Representative Director, Chairman, President
Executive Ofﬁcer
2019 Representative Director, Chairman
2019 Director, Chairman (current position)

1979 Joined the Company
2005 General Manager, Operations Planning Department,
Automotive Components Operations
2006 General Manager, Purchasing Department
2008 General Manager, Purchasing Division2012 Executive Ofﬁcer; General Manager, Purchasing Division.
2014 Managing Executive Ofﬁcer; General Manager,Purchasing Division2016 Senior Managing Executive Ofﬁcer
2017 Member of the Board of Directors, Senior Managing
Executive Ofﬁcer
2018 Member of the Board of Directors, Executive Vice President
Executive OfﬁcerRepresentative Director, President Executive Ofﬁcer(current position)

Takaaki Kato1

Keisuke Saito1

Representative Director, Executive Vice President Executive Officer

Member of the Board of Directors, Executive Vice President
Executive Officer

1980 Joined The Fuji Bank, Limited (present Mizuho Bank, Ltd.)2005 General Manager, Hong Kong Branch, Mizuho Corporate
Bank, Ltd. (present Mizuho Bank, Ltd.)
2008 Executive Ofﬁcer, Mizuho Securities Co., Ltd.
2009 Managing Executive Ofﬁcer, Mizuho Securities Co., Ltd.
2011 Managing Executive Ofﬁcer, Mizuho Securities Co., Ltd.
and Chairman, Mizuho Securities Asia Limited
2013 Joined the Company; Managing Executive Ofﬁcer
2015 Senior Managing Executive Ofﬁcer
2015 Member of the Board of Directors, Senior Managing
Executive Ofﬁcer
2017 Representative Director, Executive Vice President Executive
Ofﬁcer (current position)

1983 Joined the Ministry of International Trade and Industry(present Ministry of Economy, Trade and Industry)
2002 General Manager, Beijing Ofﬁce, Japan-China Economic
Association2005 Director, Industrial Revitalization Division, Economic andIndustrial Policy Bureau, Ministry of Economy, Trade andIndustry
2007 Director, Industrial Science and Technology Policy Division,Industrial Science and Technology Policy and Environment
Bureau, Ministry of Economy, Trade and Industry
2008 Director, Finance Division, Minister’s Secretariat, Ministry ofEconomy, Trade and Industry
2009 Director-General for Energy Conservation and Renewable
Energy Department, Agency for Natural Resources andEnergy, Ministry of Economy, Trade and Industry
2010 Special Adviser of the Company
2011 Member of the Board of Directors, Senior Managing
Executive Ofﬁcer
2019 Member of the Board of Directors, Executive Vice President
Executive Ofﬁcer (current position)

Rokurou Tsuruta1,3Shuhei Shiozawa1,3

Member of the Board of Directors (Outside)

Member of the Board of Directors (Outside)1970 Prosecutor, Tokyo District Public Prosecutors Ofﬁce2005 Superintending Prosecutor, Nagoya High Public Prosecutors
Ofﬁce
2006 Registered as an attorney (Daini Tokyo Bar Association)2007 Outside Director, TEIKOKU PISTON RING CO., LTD. (present
TPR Co., Ltd.) (current position)2007 Outside Audit & Supervisory Board Member, J. FRONTRETAILING Co., Ltd.
2012 Outside Corporate Auditor, Sumitomo Mitsui FinancialGroup, Inc.
2012 Attorney and Representative, Tsuruta Rokurou Law Ofﬁce(current position)2015 Member of the Board of Directors (Outside) of theCompany (current position)2017 Outside Director, J. FRONT RETAILING Co., Ltd.
2017 Outside Corporate Auditor, Sumitomo Mitsui Banking
Corporation (current position)

1981
1987
1994
2001
2005
2012
2016
2017
2019
2019

Assistant, Faculty of Economics, Keio University
Associate Professor, Faculty of Economics, Keio University
Professor, Faculty of Economics, Keio University
Director for International Economic Affairs, Cabinet Ofﬁce
Dean, Faculty of Economics, Keio University
Member of the Board of Directors (Outside), Kenedix, Inc.
(current position)
Member of the Board of Directors (Outside) of theCompany (current position)
Independent Director (Audit & Supervisory Committeemember), Ahresty Corporation (current position)Professor Emeritus, Keio University (current position)
President, Tokyo International University (current position)

Notes: 1. Term of ofﬁce: One year from the conclusion of the Ordinary General Meeting of Shareholders held on June 25, 2019.
2. Term of ofﬁce: Four years from the conclusion of the Ordinary General Meeting of Shareholders held on June 24, 2016.
Full-time Audit & Supervisory Board Member (Outside) Takashi Saito has taken over the term of ofﬁce from the previous Audit & Supervisory Board Member, with a term ofofﬁce of two years from the conclusion of the Ordinary General Meeting of Shareholders held on June 22, 2018.
In addition, full-time Audit & Supervisory Board Member (Outside) Junichi Tanaka has taken over the term of ofﬁce from the previous Audit & Supervisory Board Member,with a term of ofﬁce of one year from the conclusion of the Ordinary General Meeting of Shareholders held on June 25, 2019.
3. Members of the Board of Directors (Outside) Rokurou Tsuruta and Shuhei Shiozawa and full-time Audit & Supervisory Board Member Junichi Tanaka (Outside) are
independent ofﬁcers as prescribed in Rule 436-2 of the Securities Listing Regulations of the Tokyo Stock Exchange.

42

KYB Group Report 2019

Audit & Supervisory Board Members
Tomoo Akai2

Motoo Yamamoto2

Audit & Supervisory Board Member (Full Time)

Audit & Supervisory Board Member (Full Time)

1979
2004
2005
2006

Joined the Company
General Manager, Legal & Auditing Department
General Manager, Legal Affairs Department
General Manager, General Affairs & Personnel
Administration Department
2008 General Manager, Human Resources Division2009 General Manager, Audit Department
2011 Audit & Supervisory Board Member of the Company (Fulltime) (current position)

1977 Joined the Company
2004 Deputy Executive Ofﬁcer, Corporate Planning Department
2005 General Manager, Operations Planning Department,
Related Business Operations
2007 Member of the Board of Directors and General Manager,
Administration Department, Kayaba System MachineryCo., Ltd.
2009 Managing Member of the Board of Directors and General
Manager, Administration Department, Kayaba System
Machinery Co., Ltd.
2012 Member of the Board of Directors and Executive Vice
President, KYB Trondule Co., Ltd.
2015 Audit & Supervisory Board Member of the Company (Fulltime) (current position)

Takashi Saito2

Junichi Tanaka2,3

Audit & Supervisory Board Member (Full Time) (Outside)

Audit & Supervisory Board Member (Full Time) (Outside)1984 Joined The Fuji Bank, Limited (present Mizuho Bank, Ltd.)
2011 General Manager, International Fund Department, The Fuji
Bank, Limited (present Mizuho Bank, Ltd.)2012 Executive Ofﬁcer, General Manager, International FundDepartment, The Fuji Bank, Limited (present MizuhoBank, Ltd.)2013 Executive Ofﬁcer, General Manager, Derivatives SalesDepartment, The Fuji Bank, Limited (present MizuhoBank, Ltd.)2016 Managing Executive Ofﬁcer, Deputy Head of Global
Markets Company, Mizuho Financial Group, Inc.
2016 Managing Executive Ofﬁcer, Co-General Manager, Global
Markets Division, Mizuho Bank, Ltd.
2017 Advisor, Mizuho Human Services K.K.
2017 Representative Director and President, Mizuho Human
Services K.K.
2018 Audit & Supervisory Board Member of the Company (Fulltime) (Outside) (current position)

1984 Joined The Yasuda Fire and Marine Insurance Co., Ltd.
(present Sompo Japan Nipponkoa Insurance Inc.)
2014 Senior Vice President, General Manager, Global Business
Planning Department, Sompo Japan Nipponkoa Insurance Inc.
Senior Vice President, General Manager, Global Business
Planning Department, Sompo Japan Nipponkoa Holdings,Inc. (present Sompo Holdings, Inc.)
2016 Executive Vice President, General Manager, Europe &South America, Regional Headquarters, Sompo Japan
Nipponkoa Insurance Inc.
Executive Vice President, General Manager, Europe &South America, Regional Headquarters, Sompo Japan
Nipponkoa Holdings, Inc.
2016 Executive Vice President, General Manager, Europe & SouthAmerica, Regional Headquarters, Sompo Holdings, Inc.
2017 Executive Vice President, Sompo Japan Nipponkoa
Insurance Inc.
Executive Vice President, Sompo Holdings, Inc.
2018 CEO of Overseas Insurance Business, Executive VicePresident, Sompo Holdings, Inc.
2018 CEO of Overseas Insurance Business, Director, ExecutiveVice President, Sompo Holdings, Inc.
2019 Audit and Supervisory Board Member (Full Time) (Outside)of the Company

Executive Ofﬁcers
Representative
Director, President
Executive Officer
Executive Vice
President ExecutiveOfficers
Senior Managing
Executive Officers

Masao Ono

Takaaki Kato
Keisuke Saito
Hiroshi Ogawa
ToshihikoHatakeyama
Hitoshi Nitta

Managing
Executive Officers

Eiji Hisada
Kenji Yamanouchi
Hideki Nonoyama
Osamu Kunihara
Ikuo Inagaki
Hajime Sato
Kazuaki Shoji
Masahiro Kawase
Masaru Tsuboi

Executive Officers
In charge of Global Corporate Finances
General Manager, Seismic Isolation/Mitigation
Correspondence Operations
In charge of European Operations; President,
KYB Europe GmbHIn charge of North, Central & South American Operations(Automotive Components Operations Relations)
General Manager, Automotive Components Operations
In charge of Quality and Cost Planning; GeneralManager, Production Division; Deputy General Manager,
Seismic Isolation/Mitigation Correspondence Operations
In charge of auditing; General Manager, President Ofﬁce
President, KYB Americas Corporation
In charge of Purchasing; Deputy General Manager,
Seismic Isolation/Mitigation Correspondence Operations
General Manager, Finance & Accounting Division
General Manager, Hydraulic Components Operations
Deputy General Manager, Automotive Components
Operations and General Manager, MotorcycleHeadquarters
In charge of Special Purpose Vehicle Division and Aircraft
Components Division; General Manager, Human
Resources Division
General Manager, Steering Headquarters, Automotive
Components Operations
General Manager, CSR & Safety Control Division andGeneral Manager, Legal Affairs Department

Tomoyuki Nagata
Koji Yamamoto
Hiroshi Kurotaki
Takashi Kondo
Kimiro Sudo
Takashi Tezuka
Ryuji Uda

Minoru Ishikawa
Tomoki Takaoka
Ukuru Tsuchida
Ichio Nemoto

Minoru Tamai
Shozo Amano

Deputy General Manager, Seismic Isolation/Mitigation
Correspondence Operations and General Manager,
Customer Correspondence Headquarters
General Manager, Quality DivisionAssistant of Aircraft Components Division
Deputy General Manager, Seismic Isolation/Mitigation
Correspondence Operations and Deputy GeneralManager, Customer Correspondence Headquarters
Assistant of Hubei Henglong & KYB Automotive ElectricSteering System CO., LTD.
General Manager, Engineering Division; GeneralManager, Engineering Planning Department
Global Production (Automotive Components Operations
Relations)
General Manager, Suspension Headquarters, Automotive
Components Operations
Deputy General Manager, Seismic Isolation/Mitigation
Correspondence Operations; General Manager,
Promotion Headquarters
General Manager, Purchasing Division
General Manager, Special Purpose Vehicles Division
In charge of Global Corporate Planning and Domestic
Afﬁliated Companies; General Manager, Corporate
Planning Division; General Manager, Corporate Planning
Department and IT Planning Department
General Manager, Gifu South Plant, HydraulicComponents Operations
General Manager, Sagami Plant, Hydraulic Components
Operations

KYB Group Report 201943

Financial Highlights
KYB Corporation and Consolidated Subsidiaries

FY2008

2009

2010

2011

Accounting standards applied

JGAAP

JGAAP

JGAAP

JGAAP

Net sales

329,262

252,020

320,082

337,158

Segment proﬁt 1————

Operating proﬁt

50

3,896

24,152

21,538Proﬁt before tax[Income (loss) before income taxes andminority interests](4,300)1,671

24,44021,760Proﬁt (loss) attributable to owners of the parent[Net income (loss)](5,230)661

17,014

13,898

Capital expenditures

24,96810,082

8,916

27,173

Depreciation and amortization

16,552

15,31813,427

13,508R&D expenses

3,268

2,817

3,218

4,035

Cash ﬂows from operating activities

8,499

22,65535,433

17,399Cash ﬂows from investing activities(26,505)(12,828)(7,233)(20,000)

Cash ﬂows from ﬁnancing activities

32,200(6,646)(16,968)(3,455)

Cash and cash equivalents at end of period

34,272

37,664

48,12342,010Total assets

269,655

269,361

285,134

301,349

Interest-bearing debt 2

104,782

98,14581,64180,518

Total equity [Total net assets]

76,451

78,48989,964

102,762

Basic earnings per share [Net income (loss) per share] 3 (Yen)(23.62)

3.03

77.54

62.87

Cash dividends per share applicable to the year 3 (Yen)

3.50

2.50

8.00

9.00

Return on equity attributable to owners of the parent[Return on equity] (ROE; %)

—

0.9

21.1

14.8

Ratio of equity attributable to owners of the parent[Equity ratio] (%)

26.6

27.3

30.6

33.2

—

113.9

8.6

8.0

P/E ratio (Times)

Notes: 1. Segment proﬁt is calculated by deducting cost of sales and selling, general and administrative expenses from net sales.
2. Interest-bearing debt = Short-term borrowings + Current portion of long-term borrowings + Current lease obligations + Long-term debt + Non-current lease obligations +Guarantee deposits received
3. The Company carried out a 1-for-10 reverse stock split effective October 1, 2017.
Note: Items in brackets are Japanese Generally Accepted Accounting Principles (JGAAP) line item names applied prior to the year ended March 31, 2015 (FY2014).
*JGAAP44

KYB Group Report 2019

(Millions of yen)

2012

2013

2014

2015

2016

2017

2018

JGAAP

JGAAP

IFRS

IFRS

IFRS

IFRS

IFRS

305,752

352,710370,327355,320355,316

393,743

412,214——

15,506

17,58818,62422,94922,01010,473

18,17014,461

4,327

19,247

20,885(28,496)

12,994

21,032

14,892

2,825

18,852

20,881(29,510)

7,789

12,761

8,036(3,161)

14,544

15,202(24,757)

39,21529,90830,087

21,30020,578

20,95625,345

14,554

17,294

15,191

17,075

15,922

16,98817,581

5,468

6,917

8,910*

7,760

7,621

8,102

6,750

18,98428,78822,335

19,95831,15329,252

17,047(36,125)(36,078)(30,658)(20,320)(21,337)(16,386)(13,616)

8,529

5,709

(555)

(3,395)(969)(4,482)

10,41835,215

38,13230,51025,29633,98842,70256,092327,912361,083

387,877

359,002381,326

412,493441,074

95,33888,813

92,44891,68593,563

94,641

108,634

116,435

153,997

175,256

153,381

169,771

186,651

155,643

35.24

55.25

31.45

(12.37)56.93

595.09(969.18)

8.00

9.00

12.00

11.00

12.00

150.00

0.00

7.3

9.7

5.1(2.0)

9.3

8.8(15.0)

34.5

41.2

43.6

41.3

43.1

43.7

33.9

13.1

7.9

14.0

—

10.2

8.5

—

KYB Group Report 201945

Global Network(As of September 1, 2019)★ Regional Headquarters ● Production Base ◆ R&D Base ■ Sales Base/Other Services

JAPANKYB Corporation★ KYB Head ofﬁce● KYB Trondule Co., Ltd.

● Kumagaya Plant● KYB-YS Co., Ltd.

● Sagami Plant● KYB Kanayama Co., Ltd.

● Aikawa Plant● KYB Motorcycle Suspension Co., Ltd.

● Gifu North Plant● Kayaba System Machinery Co., Ltd.

● Gifu South Plant● Gifu East Plant● KYB Stage Engineering Co., Ltd.
● Takako Industries, Inc.

◆ Basic Technology R&D Center■ KYB Engineering and Service Co., Ltd.

◆ Production Technology R&D Center■ Kensiyuu Co., Ltd.

◆ Machine Tools Center■ Japan Analysts Co., Ltd.

◆ Developmental Experiment Center■ KYB Logistics Co., Ltd.

■ Hamamatsu■ Nagoya■ KYB Systemerit Co., Ltd.
■ Chikuyo Seiki Kogyo Co., Ltd.

■ Osaka■ Hiroshima■ Fukuoka

EUROPEASIA★ ◆ KYB Europe GmbH★ KYB (China) Investment Co., Ltd.

● PT. Kayaba Indonesia● KYB Industrial Machinery(Zhenjiang) Ltd.
■ KYB Industrial Machinery(Zhenjiang) Ltd.
(Shanghai Branch)● PT. Chita Indonesia● ■ Wuxi KYB Top AbsorberCo., Ltd.

■ KYB Asian Paciﬁc Corp. Ltd.

★ KYB Europe GmbH(Navarra Branch)■ KYB Europe GmbH(Düsseldorf Branch)■ KYB France■ KYB Iberia■ KYB Italy■ KYB Poland■ KYB Romania■ KYB Turkey■ KYB UK■ KYB Ukraine● KYB Suspensions Europe, S.A.U.
● KYB Steering Spain, S.A.U.
● KYB Advanced Manufacturing
Spain, S.A.U.
● KYB Manufacturing Czech, s.r.o.
● KYB CHITA Manufacturing
Europe s.r.o.
■ LLC KYB Eurasia■ KYB Eurasia Vladivostok■ KYB Middle East FZE46

KYB Group Report 2019

● Changzhou KYB Leadrun Vibration
Reduction Technology Co., Ltd.
● Hubei Henglong & KYB
Automobile Electric Steering
System Co., Ltd.
● CHITA KYB Manufacturing(Zhenjiang) Co., Ltd.
● KYB Manufacturing Taiwan Co., Ltd.
● KYB Steering (Thailand) Co., Ltd.
● KYB (Thailand) Co., Ltd.
● KYB Manufacturing VietnamCo., Ltd.
● Takako Vietnam Co., Ltd.
● PT. KYB Hydraulics ManufacturingIndonesia

AMERICAS● KYB-UMW Malaysia Sdn. Bhd.
● KYB Motorcycle Suspension India
Pvt. Ltd.
● KYB-Conmat Pvt. Ltd.
■ KYB Asian Paciﬁc Corp. Ltd.
(Amata Nakorn Branch)■ Kayaba System MachineryCo., Ltd. Taiwan Ofﬁce■ KYB CorporationChennai Branch★ ● KYB Americas
Corporation (Indiana)■ KYB Americas
Corporation (Chicago)■ KYB Americas
Corporation (Detroit Branch)■ KYB Americas
Corporation (Greenwood)● Takako America Co., Inc.
● KYB Mexico S.A. de C.V.
● KYB Manufacturing do Brasil
Fabricante de Autopeças S.A.
■ KYB International America, Inc.
■ KYB Latinoamerica, S.A. de C.V.
■ Comercial de Autopeças KYB do
Brasil Ltda.

Corporate Information/Shareholder Information(As of March 31, 2019)

Corporate Information
Company NameKYB Corporation

Date of Establishment

March 10, 1935

Head Ofﬁce

World Trade Center Bldg.,
4-1, Hamamatsu-cho 2-chome,Minato-ku, Tokyo 105-6111, Japan
TEL: +81-3-3435-3511
FAX: +81-3-3436-6759
URL: https://www.kyb.co.jp/english/

Fiscal Year

April 1 to March 31

Paid-in Capital¥27,647.6 million

Number of Employees

15,427 (Consolidated basis)

Securities Traded

Tokyo Stock Exchange (First Section)

Shareholder Information
Major Shareholders

Common Stock Issued

25,748,431

Number ofShareholders

16,693

Transfer Agent andRegistrar

Mizuho Trust & Banking Co., Ltd.
2-1, Yaesu 1-chome, Chuo-ku,
Tokyo 103-8670, Japan

Name

Composition of Shareholders
Financial institutions
8,083 thousand (31%)

Treasury shares
204 thousand (1%)
Foreign companies
5,395 thousand (21%)

Other domestic companies
5,682 thousand (22%)

Individuals and others
6,384 thousand (25%)

Shareholdings Percent of Total(Thousands) Shares Issued (%)

Toyota Motor Corporation

1,965

7.7

The Master Trust Bank of Japan, Ltd.
(Trust Account)

1,324

5.2

Meiji Yasuda Life Insurance Company

1,005

3.9

Hitachi Construction Machinery Co., Ltd.

892

3.5

KYB suppliers’ stock ownership

784

3.1

Trust & Custody Services Bank, Ltd. as
trustee for Mizuho Bank, Ltd.
Retirement Beneﬁt Trust Accountre-entrusted by Mizuho Trust andBanking Co., Ltd.

612

2.4

Ogaki Kyoritsu Bank, Ltd.

591

2.3

Mizuho Bank, Ltd.

491

1.9

Japan Trustee Services Bank, Ltd.
(Trust Account 9)

419

1.6

Japan Trustee Services Bank, Ltd.
(Trust Account 5)

408

1.6

Note: Shareholding ratio is calculated after the deduction of own shares (204,834 shares)

Monthly Stock Price Range (Tokyo Stock Exchange)
Stock price (¥)

Stock price (Left scale)

Trading volume (Shares)■ Trading volume (Right scale)

8,000

800,000,000

6,000

600,000,000

4,000

400,000,000

2,000

200,000,00000

FY2014FY2015FY2016FY2017FY2018

High (¥)

5,230

4,710

6,460

7,380

5,660

Low (¥)

3,800

2,630

2,980

4,705

2,312

At year-end (¥)

4,400

3,330

5,800

5,050

2,718

Note: The Company carried out 1-for-10 reverse stock split on the effective date of October 1, 2017. Numbers for the prior ﬁscal years are as recorded after the reverse stock split.

KYB Group Report 201947

Contact

General Affairs Headquarters, CSR & Safety Control Div.
World Trade Center Bldg.,
4-1, Hamamatsu-cho 2-chome,Minato-ku, Tokyo 105-6111, Japan
TEL: +81-3-3435-3545
FAX: +81-3-3436-6759