KAYABA Group Report 2022
April 1, 2021-March 31, 2022

KAYABA will contribute to the sustainable development of theplanet and society as a global leader in vibration and power
control built on our core technology of hydraulics.
“Everything in use is still developing, a legacy from the past. The worldcontinuously seeks that which is new. The unique ability of humankind toprogress lies in its constant search for perfection.” Shiro Kayaba left thesewords behind, and they are the key to our future. Kayaba is returning to ourorigin as a company rooted in the craftsmanship of manufacturing in order
to contribute to the creation of a prosperous future through ingenuity andconstant improvements and the lasting development of society. And fromthere, we will keep moving forward.
Masao Ono
Representative Director, andPresident Chief Executive Officer (CEO)Automotive Components (AC) Operations

Ultra-low velocity valve

Vane pump for CVT

Front fork

Active suspension
system for bullet train■ Main Products■ Market Share Source: KAYABA data (As of March 31, 2022)

Shock absorbers for automobiles: Shock absorbers (originalequipment (OE), aftermarket)

Automobiles Shock Absorbers

Shock absorbers for motorcycles: Front forks, rear cushion units
Market sharein Japan
Hydraulic equipment for automobiles: Vane pumps,
vanepumps for continuously variable transmissions (CVT),
hydraulic40%
power steering systems, electric power steering (EPS)

Motorcycle Front ForksWorld Market sharemarket share in JapanWorld
market share

Market sharein Japan

13% 40%13%47%

Market sharein Japan47%

Others: Shock absorbers for all-terrain vehicles, free locks, dampers
for railroad cars, brakes for railroad cars, active suspension systems
for railroad cars
Basic Strategy

Goal for FY2022

Establish a position as a core supplierby further strengthening existing projects andcore technologies• Strengthen: Stabilization of our revenue base
• Evolution: Innovative monozukuri• New initiatives: Creation of high-value-added products

Net Sales*1

Segment Profits*2(¥ million)(¥ million)

３００,０００

243,725

245,807

20,０００232,846

232,101

15,417

197,453

15,０００2００,０００

10,618

11,696
9,806

8,196

1０,０００1００,００００

5,０００2017

2018

2019

2020

2021０(FY)■ Shock absorbers for automobiles ■ Shock absorbers for motorcycles■ Hydraulic equipment for automobiles ■ Others

20172018

201920202021(FY)■*1.	As of FY2017, “Royalty income” and “Revenue related to mold compensation,” which were previously recorded in “Other income” in the Consolidated Statements ofIncome, are included in “Net sales.”*2. Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from net sales.

Technological Strategy
Evolving our Core Technology to Offer New ValueAlso, fusing our vehicle measurement technology and analysis

In order to respond to a market that is undergoing a major

technology with AI and IoT, we have started a “Smart Road

transformation due to electrification and EVs, KAYABA isMonitoring.” This service supports road maintenancedeveloping high-value-added products centered on our coremanagement work by using dedicated devices installed ontechnology and aiming to offer the optimum products to ourvehicles to automatically collect information on road conditions

customers.

and detect abnormalities. We have completed verifications of the

Our vibration control technology supports transport equipment

functions through trial applications in cooperating municipalities,

such as automobiles and railroads, and they are required toand are adjusting the functionality of this service to prepare it fordeliver outstanding safety and comfort. Therefore, we arerelease.

collecting data from road surfaces and running vehicles toadvance the development of an active suspension that makes
real-time control a possibility, among other initiatives.

Hydraulic Components (HC) Operations

Control valve

Travel motor

Hydraulic cylinder

Integrated HST (Pump and motor)■ Main Products■ Market Share

Source: KAYABA data (As of March 31, 2022)

Hydraulic equipment for industrial use: Cylinders, valves, pumps,Hydraulic Cylinders

motors, mini-motion packages (MMP), hydrostatictransmissions (HST)

System products: Equipment for military vessels, seismic isolationand vi bration suppression devices, simulators, hydraulic systems,
tunnel boring machines, environmental devices

Worldmarket share

25%

Basic Strategy

Goal for FY2022

A business that continues to betrusted by customers with products usedaround the world• Respond to automation and complex needs• Promote cost reduction and local procurement

Net Sales*1

Segment Profits*2(¥ million)(¥ million)

20,０００180,０００

141,572

140,625
125,321

122,787
120,０００

15,０００111,348

11,304

12,354

11,907

1０,０００5,534

6０,００００

6,553

5,０００

2017

2018

■ Hydraulic equipment for industrial use

20192020■ System products

2021０(FY)■ Others

2017

2018

2019

2020

2021(FY)■*1.	As of FY2017, “Royalty income” and “Revenue related to mold compensation,” which were previously recorded in “Other income” in the Consolidated Statementsof Income, are included in “Net sales.” We are disclosing that Systems Products are included in HC Operations as of FY2021 as a result of a review of segment
management classification.
*2. Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from net sales.

Technological Strategy
Original Technology that Makes Sophisticated Control a Realitythat brings together KAYABA’s strengths of hydraulic technology,

We are continuing with the development of electronic control

electric controls, and sensing technology.

models of hydraulic equipment. Going forward, through theWe are working on load sensing in order to respond to market

upgrading of electronic control systems, we will strengthen ourneeds such as low noise, low fuel consumption, improved

ability to make proposals in line with technological trends suchoperability, and attachment diversification, as well as theas remote operation, automation, and unmanned operation.

increasing necessity of environmental compatibility.Load

The control valve is likened to the “brain” of a piece ofsensing provides benefits including making simultaneous orconstruction equipment. It controls all types of actuators (acombined operations that depend on operator’s experiencedrive device that converts energy in a linear or a rotary motion

easier, conserving energy, and making electrification andby means of a hydraulic or electric motor), and smoothly

automation possible without affecting the load. For social needs

performs movements. According to that analogy, the pumpsuch as SDGs and carbon neutrality, we are moving forward

would function like the “heart,” and it is there we will generatewith efforts for the next generation, such as the research andnew value by making advanced controls possible with a fusion

development of electrified products.

Special-Purpose Vehicles Division

Concrete mixer truck

Inside the drum

Concrete pouring chuteProduct Lineup■ Main Products■ Market Share

Source: KAYABA data (As of March 31, 2022)

Concrete mixer trucks, granule carriers, pruned tree shredder

Concrete Mixer Trucktrucks, specialfunction vehicles, tilting drum mixingmachines

Market sharein Japan86%
Basic Strategy• Achieve continuous growth, aim to be abusiness that makes our employees feelpride.
• Undertake business that is kind to theplanet and to people

The Special-Purpose Vehicles Division strengthens its profit structure throughthe development of high-value-added products for domestic market needs,and accelerates the research and development of new products that cancontribute to the decarbonization of society as well as next-generation
products in collaboration with other business units. Overseas, it is advancing
with the development of the foundation for a special equipment global
system through the formulation of new overseas business plans.

Net Sales*1

Segment Profits*2(¥ million)(¥ million)

1,2００

12,０００

9,559

9,109

8,602

8,270

9,161

896
737

2017

2018

803

6００

6,００００701

948

2017

2018

2019

2020

2021

０(FY)

2019

2020

2021

(FY)

■

■*1.	As of FY2017, “Royalty income” and “Revenue related to mold compensation,” which were previously recorded in “Other income” in the Consolidated Statements ofIncome, are included in “Net sales.”*2. Segment profit is calculated by deducting cost of sales and selling, general and administrative expenses from net sales.

COLUMN

Products + Human Resources + the Future

A New Challenge for KAYABA
Mobile Home Research Project
The team formed for this project centers on the Special-Purpose Vehicles
Division, but also taps the experience of AC Operations, HC Operations,• Pursuing safety using technology• O ffering living spaces during timesof disasterand other R&D departments.
It uses KAYABA’s vehicle customization skills and suspension technology
to pursue safe and enjoyable driving, launching work on offering new value,such as vehicles that can serve as a living space in times of disaster.

Vibration control technology+Power control technology

KAYABA Performance Highlights
Financial
Net Sales

Segment Profit(¥ million)(¥ million)

50０,０００393,743

412,2143０,０００388,360

381,584

40０,０００

22,94917,5752０,０００30０,０００
20０,０００24,713

22,010328,037

13,325

1０,０００10０,００００

2017

2019

2018

2020

2021

０(FY)

■

2017

2018

2019

2020

(FY)

2021

■
Note:
Segment profit is calculated by deducting cost of sales and selling,general and administrative expenses from net sales.

Operating Profit (Loss)

Profit (Loss) Attributable to Owners of the Parent(¥ million)(¥ million)

5０,０００8０,０００30,001

20,885

18,2974０,０００0■
40０,０００(40,298)2017393,74320192018412,214

2020

2021

(FY)

388,360

381,584
328,037

22,576

17,047

20,8262018■

22,94922,0102019

2021
24,713(4,482)20172019(4,999)2018(16,386) (13,616)

2017

24,247

1０,０００13,32520192020

CF from investing activities

43.7(10,871)
2021

2021

０（年度）
■

(FY)

CF from financing activities

2017

2018

20

０（百万円）

35.3

33.9

40

(32,711)(21,505)

2018

from operating activities
5０,CF０００2020(6,281)

(FY)

60

1,146

10,418-4０,０００
（百万円）

2017

（%）

29,252

2０,０,０００
10０００■-2０,０００2020(61,879)（百万円）-8
3０,０,０００００
０

17,5752０,０００of equity attributable to owners of the parentRatio

30０,０００(¥ million)

0０

22,549(24,757)-4０,０００

Cash Flows (CF)4０,０００20０,０００17,0870(28,496)（百万円）-5０,50０,００００００

15,202

2019

25.9
2020

2021

（年度）

2020

2021

(FY)

18.1

2017

2018

2019

8０,０００30,001
20,885

18,2974０,０００0△24,757-4０,０００ Number of Paid Holidays, Days Actually Taken and Rate of Usage
Average

Total CO2 Emissions:
Scope 1 + Scope 2△28,496（t）

0.674
2017

■
30０,０００0.740
2018

173,288△40,298

2019

0.687
2021
169,557

154,462
29,252

22,57642,92817,047 38,433
96,944
91,271

10０,０００
20,００００0.7782020

174,115（百万円）
2040
０,,０００2018

10,4182019

20,82632,12324,24733,68977,934

81,210

2020

1,146

2021

（t）

(Days)

0.800（年度）-8０,００25
０0.600

60
10

0.200

5(FY) ０20,０００14,754

投資活動によるCF

15,427

15,4392021（年度）

財務活動による CF△61,879

66.4
2017

68.1
2018

71.7
2019

12.90

13.32

14.01

40０

2017

20

33.9
2018

20

35.3

2019

■2021

(FY) ０2021

Usage rate

18.1

2.3

14,4722.2252020

2020
25.9

Disabled Employment Rate /０ Employment Rate of Persons with Disabilities
Legal2019
2017
2020
2018
2021

1.97（日）2019

60■ Average number of paid holidays actually taken per employee■■2 .0

2018

15.19
12.29

（年度）

（%）

1０,０００2017(%)
80（年度）

43.7

2.2

2.0

０76.9
2021

40

2.5

14,718

2020
62.8

20

0.400

△32,711-40,０００
Numberof Employees
2019
2017
2020
2018(Consolidated)

■

15（%）

０Basic units
subsidiaries■ KAYABA ■ Domestic△4,482 subsidiaries ■ Overseasc△4,999△10,871△6,281△13,616
Note: The scopeis the six
plants of KAYABA, five domestic subsidiaries,△
16,386-20,０００
and 17 overseas subsidiaries △21,505(Person)
営業活動によるCF

22,5490

Non-financial-5０,０００40

17,087

15,202(FY)

1 .5
2066.42017

Disabled Employment Rate

2.36
2.3

2.11
1.88

68.1
2018

1.86

76.9

71.7
2019

62.8
2020

2021

Legal Employment Rate of Persons withDisabilities
15.19

13.32

80(FY)

60

14.01

Note:15
The scope12.90
of the paid vacation and disabled
employee rates is for
12.29
KYB Corporation.
10（%）

40

Corporate Information (As of March 31, 2022)
Company NameKYB Corporation

Head OfficeWorld Trade Center Bldg.,
South Tower 28F,4-1, Hamamatsu-cho 2-chome,Minato-ku, Tokyo 105- 5128, Japan
Tel: +81-3-3435-3511
Fax: +81-3-3436-6759

Date ofEstablishment

March 10, 1935

Fiscal Year

April 1 to March 31

Paid-in Capital¥27,647.6 million

Number ofEmployees

14,472 (Consolidated basis)

Securities Traded Prime Market of Tokyo Stock Exchange

KAYABA in Globe (As of March 31, 2022)
Europe (7 companies in 12 countries)★● KYB Europe GmbH● KYB Europe GmbH (Navarra Branch)● KYB Europe GmbH (Dusseldorf Branch)● KYB France● KYB Iberia● KYB Italy● KYB Poland● KYB Romania● KYB Turkey● KYB UK● KYB Ukraine● KYB Suspensions Europe, 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 FZEAsia (18 companies in 7 countries)★ KYB (China) Investment Co., Ltd.
● KYB Industrial Machinery (Zhenjiang) Ltd.
●● Wuxi KYB Top Absorber Co., Ltd.
● 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 Vietnam Co., Ltd.
● Takako Vietnam Co., Ltd.
● PT. KYB Hydraulics Manufacturing Indonesia● PT. Kayaba Indonesia● PT. Chita Indonesia● KYB-UMW Malaysia Sdn. Bhd.
● KYB Motorcycle Suspension India Pvt. Ltd.
● KYB-Conmat Pvt. Ltd.
● KYB Asian Pacific Corp. Ltd.
● KYB Asian Pacific Corp. Ltd., Amata Nakorn Branch● KYB Corporation Chennai BranchJapan (12 companies in 1 country)★ KYB Corporation (KAYABA)● Kumagaya Plant● Sagami Plant● Gifu North Plant● Gifu South Plant● Gifu East Plant● Mie Plant● Basic Technology R&D Center● Production Technology R&D Center● Machine Tools Center● Developmental Center● South kanto● Nagoya● Osaka● Hiroshima● Fukuoka● KYB Trondule Co., Ltd.
● KYB-YS Co., Ltd.
● KYB Kanayama Co., Ltd.
● KYB Motorcycle Suspension Co., Ltd.
● KYB-CS Co., Ltd.
● Takako Industries, Inc.
● Kensiyuu Co., Ltd.
● Japan Analysts Co., Ltd.
● KYB Logistics Co., Ltd.
● Chikuyo Seiki Kogyo Co., Ltd.
America (6 companies in 3 countries)★ ● KYB Americas Corporation (Indiana)● KYB Americas Corporation (Greenwood)● KYB Americas Corporation (Chicago)● Takako America Co., INC.
● KYB Mexico S.A. de C.V.
● KYB Manufacturing do Brasil Fabricante de		  Autopecas S.A.
● KYB International America, Inc.
● Comercial de Autopecas KYB do Brasil Ltda.