Review of Operations

Steel and Energy Products Business
Steel Products Sector/Steel Plates and Structures Sector/
Wind Turbines Sector

Shell Flange Used for Pressure Chamber forNuclear Power Plant

J82 Wind Turbine System

Orders Received

58.6

61.7

Orders Received¥ million
160,000

Orders came to ¥98,829 million (US$1,188 million), a year-on-year
4549.4

123,271

120,000

115,699

XXX

70,00045.5

decrease of 20%. Despite a significant increase in sales of clad steel
98,829Orders Received¥ billion
Performancein fiscal 201060¥ million
140,000

105,000

Clad Steel Platepipes for30natural gas pipelines, total orders declined due80,000
to project can84,159

cellations of wind turbine system equipment and project delays of some15
nuclear power
plants in North America.

35,00040,000

Sales came to ¥112,915 million (US$1,357 million), a decrease of000

2010

7%. Despite 2006
brisk2007sales
pressure
vessels for oil refineries, the decrease
2010
2008 of2009
2010

2011

2011

was attributable to a substantial decline in sales of wind turbine system¥ million

Sales

Sales

45

XXX

57.0

in power plants and of some clad steel pipes for overseas customers to112,915

90,000next year due to the effects of the Great East Japan Earthquake.
46.3

97,66490,000¥ billion

120,000
60 and the postponement of shipments of components
equipment
used

121,921

Sales¥ million
120,000

33.2

77,356	Operating
income came to ¥25,059 million (US$301million), a
60,00030

60,00029.3

decline of 17%. This was due to intensifying price competition and an
15 depreciation expenses resulting from capital 30,000
increase ininvestments in

30,000JSW’s Muroran Plant, as well as the effects of sharply rising raw material
0201020102006 2007 2008 2009 2010

¥ million
160,000

7,521

40,000XXX

80,00013,263

15,429120,000

9,791

124,118

93,848

13,97150,000

119,347

100,000

XXX

150,000

Operating Income¥ million
200,000

2011

7,617

4,259

000

99,36314,000Operating Income

21,000XXX

25,185

Operating Income¥ million
28,0007,000

8prices.

2011

2005 2006 2007 2008 2009

00

2005 2006 2007 2008 20092005 2006 2007 2008 2009

Industrial Machinery Products Business
Plastics Machinery Sector/
Other Machinery Sector

Polyolefin Extruder/Pelletizer

Large-Size All-Electric Injection Molding
Machine (24600kN)

Magnesium Alloy Injection Molding Machine(280t)

Orders Received

Orders Received¥ million
4,000

Orders climbed 37%, to ¥115,699 million (US$1,391 million). This
120,000

3,000

XXX

45.5

44.4

42.9

2,354

84,1592,412

molding 30machines due to growing demand in emerging
countries, espe2,000
38.5

80,00045

was attributable to a substantial increase in orders for plastic injection

115,699

Orders Received¥ billion
Performancein fiscal 201060

¥ million
160,000

cially Asia, as well as for plastics manufacturing and processing machin15
ery, and laser
annealing systems.

40,000

1,000

Sales rose 26%, to ¥97,664 million (US$1,174 million). The
000

2010

increase was 2006
due 2007
to briskorders
2010
2011
2008 20092010 for plastic injection molding machines

2011

and for plastics manufacturing and processing machinery.
¥ billion¥ million

Sales

4,000
60	Operating
income jumped 149%, to ¥3,253 million(US$39 mil-Sales

Sales¥ million
120,000lion), owing to higher sales and successful cost-cutting activities.
46.6

2011

0

12,000

XXX

689

4,000

868

8,000

746

2005 2006 2007 2008 2009

¥ million
16,00000020111,130

124,118

93,8487,521

50,000

119,347

100,000

144,461

150,000

Operating Income¥ million
200,000

99,363Operating Income

XXX

13,263

15,42980,0009,791

Operating Income

120,000

2010

2006 2007 2008 2009 2010

¥ million
160,000

2,349

2010

2,402

XXX

1,000

0

0

40,00026.8

1530,000

2,000

35.5

30

35.8

77,35660,0003,000

4597,66490,0002005 2006 2007 2008 20092005 2004 2007 2008 20099

Review of Operations

Real Estate and Other Businesses
Regional Development

2010

Net Income

16,532

17,52816,034

12,515

10,000amounted to ¥715 million (US$8million).

5,000

0200720112008 2009 2010 2011¥50.0044.54

33.71

25.00

47.22

37.50

43.19

47.10

16,532

17,52816,034

17,48415,0002007 2008 2009 2010 2011

XXX

689

746

Net Income per Share¥ million
20,00010,00017,484

212,929

201,680

227,113220,851

15,000

million), sales came to ¥2,349 million

12,515
868

2,349

8,000

Orders totaled ¥2,354 million (US$28(US$28 million) and operating income

2,349

12,000Net Income 1,130

144,461

124,118
2,402

119,347

Operating Income¥ million
16,000207,138

2,402

120,000

2010

Capital Expenditures
93,84850,0002,000

99,363100,000

Net Sales

Sales2,354

Sales

Operating Income

3,000

150,000

180,00002011¥ million
4,000¥ million
Performancein fiscal 2010
20,000¥ million
240,000

02006 2007 2008 20092010
2010

2007 2008 2009 2010 2011

60,000

1,000

00¥ million
200,000

2,000

XXX

2,412 26.8

35.5

2,000

1,000

15

3,000

2011

46.6

Orders Received35.8

Sales

30

3,000

212,929

JSW Apartment Building Development(Fuchu, Tokyo)
00¥ million
4,000

201,680

60,0002006 2007 2008 2009 2010

¥ million
4,000

227,113

Business Office Development(Fuchu Intelligent Park)045

120,000

1,00015¥ billion
60

2,354

2,000

180,000

220,8513,000¥ million
240,000

207,138Net Sales

XXX

45.5

44.4

42.930¥ million
4,000

2,412

Orders Received

4538.5

Orders Received¥ billion
60

Capital¥26,722 million (US$321 million),12.50
with the majority spent on
5,000
1,000 expenditures for the reporting period totaled
4,000
installation, improvement and maintenance work on a variety of production facilities.

0000	Detailsof capital expenditure
by individual
businesssegment are as follows.
2011
2007 2008 2009 2010 201120102005 2006 2007 2008 2009

02005 2004 2007 2008 20092007 2008 2009 2010 2011	In the Steel and Energy Products Business, capital expenditures totaled ¥25,217 million (US$303 million). ThisNet Income per Share

Operating Income¥¥ million
expenditureconsisted largely of investments to construct
new buildings and equipment for the forging and heat
50.00
16,000

44.54

47.22

43.19

47.10

treatment facilities at Muroran Plant, as well as upgrade equipment at steel-making plants.
37.50
12,000the Industrial Machinery Products Business, capital	Inexpenditures came to ¥1,309 million (US$15 million) as

1,130

8,000

25.00

33.71

a result of investments to raise machine processing efficiency at our Hiroshima Plant.
868

XXX

689

746	In the Real Estate and Other Businesses, capital expenditure consisted primarily of the upgrading of facilities onreal estate
for rental purposes, totaling ¥73 million 12.50(US$0.8 million).
4,000	Capital expenditures unallocable to individual segments came to ¥121 million (US$1 million).
00102005 2004 2007 2008 20092007 2008 2009 2010 2011