Consolidated Financial Results
April-27-2005of the Financial Year Ended March 31 2005
Listed Company
Name
Code Number

AISIN SEIKI Co., Ltd.

The Tokyo, Osaka and Nagoya
exchanges (1st division)
Aichi, JAPAN

Listed at7259
Location(URL http://www.aisin.co.jp)
Representative
Kanshiro Toyoda, President
Contact Person
Genshiro Mizuno, Director, General Manager, Financestock

TEL 81 ‑ 566 ‑ 24 ‑ 8266

１. Results of The Year ended Mar. 31, 2005（Apr. 1, 2004 through Mar. 31, 2005）(1)Operating Results（The amount less than million yen is rounded down.）
Net Sales

Change fromprevious FY

Million Yen
Year ended Mar 31, 05
Year ended Mar 31, 04％

1,829,064 （
1,605,252 （Net Income

Operating Income
Million Yen13.9 ）14.0 ）

Change fromprevious FY

Change fromprevious FY

95,110 （86,768 （Change fromprevious FY

Ordinary Income
Million Yen％

9.6 ）
7.7 ）

Earnings Per Share％

98,457 （84,654 （16.3 ）10.5 ）

Fully Diluted Earnings Per Share

Million Yen％
Year ended Mar 31, 05
159.90yen
159.73yen
46,718 （34.6 ）Year ended Mar 31, 04
126.11yen
118.38yen
34,719 （ (27.7) ）(Note)１．Equity in earnings of affiliates
Year ended Mar.31 2005 : 5,547 million yen / Year ended Mar.31 2004 : 2,691 million yen
２．Average number of shares issued and outstanding (Consolidated)Year ended Mar.31 2005 : 285,807,453 shares / Year ended Mar.31 2004 : 267,404,370 shares(2)Financial Position
Total Assets

Shareholders' Equity Shareholders' Equity Ratio Shareholders' Equity Per Share

Million yen

Million yen％

Year ended Mar 31, 05
552,75236.8
1,503,313
Year ended Mar 31, 04
506,260
36.6
1,382,584（Note）Number of shares issued as of the respective balance sheet date（Consolidated）
Mar. 05 : 286,089,021 shares/Mar. 04 : 285,323,648 shares

1,928.54yen
1,771.12yen(3)Situation of cash flows
Cash flows from
Cash flows from
Cash flows fromoperating activities investing activities financing activities
Million yen
Year ended Mar 31, 05
Year ended Mar 31, 04

142,675
132,899((Million yen

Million yen

174,817 )
160,798 )22,30444,223

Cash and cash equivalents
at the end of year

Million yen

116,401
126,214(4)Consolidation Scope
Number of consolidated subsidiaries: 122
14 (Affiliates accounted for under equity method : 14)
Number of affiliates:
Number of unconsolidated subsidiaries : none(5)Changes in Consolidation Scope and Application of equity method
Consolidated subsidiaries
Added
9
Excluded1 (Merged to another consolidated subsidiary)Companies accounted for
Added1
under the equity method
Excluded
1 (Sold)
２. Forecast of Financial results toward the end of March 2006 (Apr.1 2005 through Mar.31 2006)
Net Sales
Operating Income
Ordinary Income
Net Income
Million yen

Million yen

Million yen

Half year end (Sep. 05)
Year ending Mar. 31, 06

900,000
43,00043,0002,000,000
100,000
100,000(Reference） Estimation of Earnings per share for FY ending Mar. 31, 2006 :Million yen

21,00047,000160.72yen※ Above forecasts are based on Aisin's plans and expectations. Theses are not guarantees of future

performance and involve known and unknown risks, uncertainties and other factors that may cause
actual results, performance,achievements or financial position to be materially different from theforecasts expressed or implied in this report.

Net Sales by Item(Million yen)

Category

Year ended

Year ended(Mar. 31, 2005)(Mar. 31, 2004)

AmountPercentage

Amount%AutomotiveRelatedIncrease(decrease)

Variation ratio

Percentage%%

Engine Related

173,649

9.5

153,695

9.6

19,954

13.0

Drivetrain Related

768,68442.0

673,760

42.0

94,924

14.1

Brake & Chassis Related

372,04420.3

343,048

21.4

28,996

8.5

Body Related

317,99117.4

286,22917.8

31,762

11.1

Information Related

113,6096.2

75,9004.7

37,70949.7

Sub Total

1,745,979

95.4

1,532,634

95.5

213,345

13.9Life & Energy Related

48,6902.7

48,338

3.0

352

0.7

Others34,395

1.9

24,2791.5

10,116

41.7

Grand Total

1,829,064

100.0

1,605,252

100.0

223,81213.9（Notes）Sales of "Others" includes "Construction and engineering works business" and "oil sales business",and so on.

Consolidated Statements of Income(Million yen)
Year ended

Year ended

Mar. 31, 2005

Mar. 31, 2004

Increase (Decrease)

Net Sales

1,829,064

1,605,252

223,812

Cost of Sales

1,579,484

1,377,161

202,323

Gross Profit

249,580

228,091

21,489Selling, General & AdministrativeExpenses

154,469

141,322

13,147

Operating Income

95,11086,7688,342

Non-Operating Income

17,185

13,304

3,881Interest and Dividend income

2,510

2,387

123

Equity in earnings of affiliates

5,547

2,691

2,856

Other Income

9,127

8,225

902

Non-Operating Expenses

13,83815,418(1,580 )Interest Expense

2,336

2,393

(57 )

Other Expense

11,502

13,024(1,522 )Ordinary Income

98,45784,654Extraordinary Losses

5,727

7,319

(1,592 )Recognized Loss on Transfer of
the Substitutional Portion of theEmployee Pension Fund―

7,319(7,319 )Impairment Loss on Fixed Assets

5,727

―

5,727

Income Before Income Taxes
and Minority Interests

92,72977,335

15,394

Income Taxes-current

32,60930,441

2,168

Income Taxes-deferred(1,132 )(1,105 )13,803(27 )Minority Interest in Net Income

14,533

13,2791,254

Net Income

46,71834,71911,999105,968

97,563

8,405

Depreciation and amortization

Consolidated Balance Sheets（Million Yen）
FY2004(As of Mar. 31, 2005)

FY2003(As of Mar. 31, 2004)

601,881555,063

Increase (Decrease)〔 Assets 〕
Current Assets

46,818Cash and Cash Equivalents
Trade Notes & Accounts
Receivable
Marketable Securities

90,287

99,792287,955

257,028

34,10937,028Inventories

122,460

99,518Deferred Tax Assets

35,921

36,554

Other Current Assets
Less: Allowance for
Doubtful Accounts

31,837

26,2495,588

1,108 )

418(

Fixed Assets
Property, Plant andEquipment
Buildings & Structures690 )((9,505 )30,927(2,919 )22,942(633 )

901,432

827,52173,911

627,216

581,552

45,664

177,666

174,301

3,365

Machinery and Equipment

297,317259,667

37,650

Other tangible assets33,621

30,026

3,595

Land

82,25776,7085,549

Construction in Progress

36,352

40,848(4,496 )

8,466

9,659

(1,193 )SoftwareExcess of Cost of
Investments Over Equity inNet Assets Acquird
Others

6,322

5,447

14632

(618 )

2,129

3,579

(1,450 )Investments & Other Assets

265,749

236,309

29,440Investments in Securities

215,952

188,971

26,981Long-term Loans

4,245

4,439

Deferred Tax Assets

22,03121,806225

Other Assets
Less: Allowance for
Doubtful Accounts

24,147

21,6942,453

Intangible Fixed Assets

Total Assets(Note)1. Accoumulated depreciation
2. Guarantees for bank loans(627 )

1,503,313
1,157,183
1,977(602 )

1,382,584
1,101,482
1,814875((194 )

25 )

120,72955,701
163

（Million yen）
FY2004(As of Mar. 31, 2005)

FY2003(As of Mar. 31, 2004)

Increase and decrease

531,611493,294

38,317

262,654

241,526

21,12858,77853,027

5,751

―

5,000

41,42437,758

3,666

Accrued Expenses

106,469

104,146

2,323

Income Taxes Payable
Deposits Received fromEmployees
Accrued Warranty Cost

21,41919,166

2,253

16,964

16,691

273

11,716

11,422294

Other Current Liabilities

12,185

4,554

7,631

273,256

249,395

23,861

Bonds Payable

25,65025,650―Long-term Debt

129,767

104,319

25,448Deferred Tax Liabilities
Liability for Employees'
Retirement Benefits
Long-term Amount in Arrears

26,45723,786

2,671

81,96578,385

3,580

9,415

17,253

Total Liabilities

804,867

742,69062,177

145,693

133,633

12,060Capital45,04945,049―

Capital Surplus

63,061

62,926135

Retained Earnings
Net unrealized gain on available-forsale securities
Foreign Curreny Translation
Adjustments
Less:Treasury Stock at Cost

392,836

352,590

40,246

66,59760,1406,457〔 Liabilities 〕
Current Liabilities
Trade Notes & Accounts
PayableShort-term Borrowings
Current Portion of Bonds
PayableAmount in Arrears

Long-term Liabilities((5,000 )7,838 )

〔Minority Interests〕
Minority Interests〔 Shareholders' Equity 〕(11,674 )(10,091 )(1,583 )(3,116 )(4,354 )(1,238 )Total Shareholders' Equity
552,752
506,260
Total Liabilities, Minority Interests
1,503,313
1,382,584(Note) 3．The number of treasury stocks and stocks owned by affiliated companies
8,585,613
9,350,986

46,492
120,729(765,373 )Consolidated Statements of Shareholders' Equity（Million yen）

Year ended

Year ended

Mar. 31, 2005

Mar. 31, 2004

62,92659,022

134

3,903(3,769 )Issuance of new stock by conversionof CB―

3,903(3,903 )Gain from disposal of trasury stocks

134―

134

63,061

62,926

135

Balance at beginning of the year

352,590

325,52127,069

Increase

46,71834,71911,99946,71834,71911,999

6,473

7,649

5,6224,338

Bonus to directors and corporate
auditors

851967(116 )Loss on reissuance of treasury stocks―2,343(2,343 )

392,836

352,590

Subject

Increase anddecrease（Capital surplus）
Balance at beginning of the year
Balance of additional paid-in capital at
Increase

Balance at end of the year

3,904

（Retained earnings）

Net income
Decrease
Cash dividends

Balance at end of the year

(1,176 )1,284

40,246

Consolidated Statements of Cash Flows（Million yen）

Subject

Year ended
Mar. 31, 2005

ⅠCash flows from operating activities
Income before income taxes and minority interest
Depreciation and amortization
Impairment Loss on Fixed Assets(Decrease)increase in liability for retirement benefits

Interest and dividend income
Interest expenses(Loss on dispossal of property, plant and equipment

Increase in trade notes and accounts receivable(Increase)in inventories
Increase in trade notes and accounts payable
Others
Sub totalInterest and dividend income received
Interest paid
Income taxes paid
Net cash provided by operating activities(((((92,729
105,968
5,727
3,580
2,510 )
2,336
4,676
29,545 )23,115 )20,0406,169 )173,718
2,932
2,410 )
31,564 )142,675

Year ended
Mar. 31, 2004((((((77,335
97,563―2,4482,387 )
2,393
3,373
18,415 )5,405 )
26,59818,883 )164,6202,801
2,319 )
32,203 )132,899

Increase andDecrease((((((15,394
8,405
5,727
1,132123 )
57 )
1,303
11,130 )17,710 )6,558 )
12,7149,098
13191 )
639
9,776

ⅡCash 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 of sales of subsidiaries' stock resulting
in change in scope of consolidation
Proceeds of sales of investments in securities((((Proceeds of redemption at maturity of investments in securities

Increase in loans
Decrease in loans
OthersNet cash used in investing activities
ⅢCash flows from financing activities(Decrease)in short-term borowings
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
Income for disposal of treasury stock
OthersNet cash provided by (used in)finnancing activities((((((((ⅣTranslation adjustment of cash and cash equivalents

ⅤNet increase in cash and cash equivalents
ⅥCash and cash equivalents at beginning of year
ⅦCash and cash equivalents at end of year

(3,436 )162,327 )5,364
13,147 )35 )((((3,253 )147,586 )
4,415
9,056 )
6,949 )

320

―

1,252
2,328636 )
750
5,249 )
174,817 )2,445
3,762685 )
1,544
5,434 )
160,798 )(((2,318
32,6872,170 )―
5,000 )
1,035
5,620 )
2,319 )
29 )
1,405
22,304(239,812 )
126,214
116,401((((((11,072 )
62,078
7,398 )
10,6505,037 )
1,014
4,338 )
1,651 )
18 )―
44,223
1,843 )
14,481
111,732
126,214(Note) Reconcilliation between cash-cash equivalents and accounts on the consolidated balance sheet#Cash and Cash Equivalents
90,287
99,792
Notes and Accounts receivable
287,955
257,028
Marketable Securities
34,10937,028Other Current Assets
31,837
26,249Sub total
444,190420,098
Saving accounts over three months(1,800 )(2,540 )Notes and Accounts payable(285,894 )(257,028 )Short term investments of over three months until due date
(13,056 )(10,165 )Other current assets beside cash-cash equivalents(27,037 )(24,150 )Cash and cash equivalents
116,401
126,214(((183 )
14,741 )949
4,091 )
6,914
320((((((((((((((((((1,193 )
1,434 )
49794 )
185
14,019 )13,39029,391 )
5,228
10,650 )37
21
1,282 )
668 )
11 )
1,405
21,919 )1,866
24,293 )14,4829,813 )
9,505 )
30,9272,919 )
5,588
24,092740
28,866 )2,891 )
2,887 )
9,813 )

Segment Information
１．Industry Segments
The company's main business is manufacturing and sales of automotive parts.Sales, and its
operating income has the majority(over 90%) in all segments. Therefore information of industry
segments is omitted.
２．Geographical Segments
Year ended Mar. 31, 2005
NorthAmericaEurope

268,737

138,616

226,473

7,611

5,428

Total
1,585,127
Operating Costs & Expenses 1,500,579
Operating Income
84,547
Assets1,401,318
Ⅱ

276,349
273,403
2,945
201,318

144,044
142,814
1,230
74,517Japan
Ⅰ Sales and Operating Income
Sales
1,358,653
Customers(1)(2) Intersegment

OthersTotal

63,056 1,829,064
5,273

68,330 2,073,851
61,071 1,977,868
7,259
95,98377,424 1,754,579NorthAmerica

Europe188,743

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
Assets1,301,516
Ⅱ

195,195
194,954240
178,671

81,40981,487( 77)
56,687

48,861 1,775,207
42,304 1,687,623
6,556
87,584
46,377 1,583,253

Ⅰ Sales and Operating Income
Sales
Customers
1,295,625(1)(2) Intersegment―

244,786 ( 244,786 )Year ended（Mar. 31, 2004）
Japan（Million yen）
Eliminatio Consolid
nsatedOthers

Total① North America･･･U.S.A., Mexico② Europe･･･Belgium, UK③ Others･･･Taiwan, Thailand, China―( 244,786 ) 1,829,064( 243,914 ) 1,733,954
872 )
95,110(( 251,265 ) 1,503,313（Million yen）
Eliminatio Consolidnsated―

169,955 ( 169,955 )(Notes)1. Geographical segments are defined according to geographical closeness.
2. Main countries or regions are

1,829,064

1,605,252―( 169,955 ) 1,605,252( 169,139 ) 1,518,483
815 )
86,768(( 200,668 ) 1,382,584

３．Sales by Customer Location
Year ended（Mar. 31, 2005）（Million yen）

North America

EuropeOthers

Total

Overseas Sales

273,667

166,023

119,876

559,567

Net Sales―――

1,829,064

Overseas Sales
Ratio to Net Sales

15.0％％

9.1

6.5％

Year ended（Mar. 31, 2004）

30.6％（Million yen）

North America

EuropeOthers

Total

Overseas Sales

192,520

108,941

95,478396,940

Net Sales―――

1,605,252

Overseas Sales
Ratio to Net Sales

12.0％

6.8％

5.9％

24.7(Notes) 1.Geographical segmens are defined according to geographical closeness.
2.Main countries or regions are① North America･･･

U.S.A., Canada② Europe･･･Sweden, Germany③ Others･･･

Korea, Taiwan, Thailand, China％

＜Reference＞
１．Unconsolidated Results of The Year ended Mar. 31, 2005
（Apr. 1, 2004 through Mar. 31, 2005）◇Unconsolidated Statements of Income(Million yen)

Year ended

Year ended

Mar. 31, 2005

Mar. 31, 2004

Net Sales
Operating Income
Ordinary Income
Extraordinary Income(Loss)Net Income

649,282
31,93834,347(1,375)
21,489

Increase(Decrease)47,410
6,896
7,922
2,657
6,239

601,872
25,042
26,425(4,032)
15,250◇Unconsolidated Balance Sheets〔 Assets 〕
Current Assets
Fixed AssetsProperty, Plant &Equipment
Intangible Fixed Assets
Investments & Other Assets
Total〔 Liabilities 〕
Current Liabilities
Long-term Liabilities
Total Liabilities〔 Shareholders' Equity 〕
CapitalCapital Surplus
Retained Earnings

Year ended

Year ended

Mar. 31, 2005

As of Mar. 31, 2004

Increase(Decrease)

238,612482,190

218,061433,840

20,551
48,350139,581

134,733

4,848

3,248
339,361
720,8022,290
296,817651,902958
42,544
68,900Year ended

Year ended

Mar. 31, 2005

As of Mar. 31, 2004

Increase(Decrease)

160,494
192,507353,001

148,082
159,267
307,349

12,412
33,24045,65245,04963,061
196,432

45,04962,926
181,026―135
15,406

Net unrealized gain on availablefor-sale securities

65,33858,8706,468

Less:Treasury Stock, at Cost

(2,080)(3,320)1,240

Shareholders' Equity Total
Total

367,801
720,802344,552
651,90223,24968,9002．Forecast of Financial Results toward the end of March 2006
（Apr. 1, 2005 through Mar. 31, 2006）
Net Sales
Million yen

Half year end (Sep. 2005)
Year ending Mar. 31, 2006

320,000
670,000

Operating Income

Ordinary Income

Million yen

14,00031,000Million yen

10,00021,000