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
140,000

Orders came to ¥61,390 million (US$652 million), a year-on-year

84,15961,39035,000121,016XXX

ment, orders
for products used in the electrical power generationindus70,000
30

78,06898,82970,00045.5

decrease of 21.4%. Despite an increase in wind turbine system equip-118,858

105,000

115,6994549.4

123,271

Orders Received¥ billion
Performancein fiscal 201260

¥ million
140,000

105,000

Clad Steel Platetry (including nuclear power) decreased primarily due to a delayed
35,000recovery 15in demand accompanying a slowdown in emerging
economies

as well as lagging advancements in electrical and nuclear power genera0002010

2011

2012

2013

tion policies.2006
Sluggishdemand2010
2011
2012
2007 20082009 2010for pressure vessels used in oil refineries

2013

also drove down orders.
¥ billion¥ million

Sales

Sales60came to ¥88,275 million (US$938 million), a140,000
year-on-year
130,138

113,959

77,35670,00097,66446.3

33.2

for oil refineries
and wind turbine system equipment.
30	Operating loss amounted to ¥534 million (US$5 million), com29.3

88,27570,000105,000

power generation industry (including nuclear power), pressure vessels

105,001

112,915

45XXX

57.0

decrease of 15.9%, due to lower sales of products for the electrical

121,921

105,000

Sales

Sales

¥ million
140,000

35,00015 operating income of ¥11,517 million in fiscal
pared with2011. Despite

35,000

implementing a range of measures to cut variable and fixed costs, we0002012

2013

were unable 2006
to counteract
the2010adverse effects of a number of factors,
2011
2010
2007 2008 2009

2012

2013

XXX

2011

13,2632010

including a lower capacity utilization rate due to the decrease in sales
Operating Income

15,429XXX

80,000

7,521

40,000

9,791

124,118

50,000

119,347

100,000

120,000

7,617

4,259

0

10

150,000
Company’sprofitability.

93,848

13,971

7,000

an intensification of export competition and deterioration in the99,363

14,000Operating Income

21,000XXX

25,185

Operating Income¥ million¥ million
and orderscaused
160,000
200,000 received, and the yen’s high exchange rate, which¥ million
28,0002005 2006 2007 2008 2009002005 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
3,000

Orders rose 1.8% year on year to ¥121,016 million (US$1,286 million).
2,250

2,239

2,354

2,412

XXX45.5

44.4

38.5

manufactureliquid crystal displays mainly for smartphones
and firm
1,500
30

2,389

45

This was due to a rise in orders of laser annealing equipment used to42.9

121,016

118,858

70,000115,699

105,000

84,159Orders Received¥ billion
Performancein fiscal 201260

¥ million
140,000

orders for plastic injection molding machines. This result occurred in750
spite of a15decline in orders for various types of plastic production
and35,000processing machinery, notably film-forming equipment.
0002010

2011

2012

Sales increased
to 2010¥130,138 million (US$1,383 million).
20102011
2006 200714.2%
2008 2009201320122013

This is attributable to robust sales of plastic production and processing¥ million

Sales

ment, and plastic injection molding machines.

35.5

35.8million).30This is attributable to increased sales, thoroughcost-cutting
1,500

2,239

2,349

2,402

2,407

2,250

45	Operating income increased 45.4% to ¥16,784 million (US$178
46.6

130,138

77,356

97,664113,959

105,000

70,000¥ billion

3,000
60 notably film-forming equipment, laser annealing
machinery,equip-Sales

Sales¥ million
140,000

XXX

26.8

measures, and to steps taken to enhance JSW’s lineup of high-value750
15
added products
born out of a level of technological expertisethat dif-

35,000ferentiates the Company from its rivals amid increasingly fierce price
02013

2012

2013

¥ million
16,00012,000

4,000

868

8,000

746

2005 2006 2007 2008 2009

2011

000

2010

1,130

124,118

93,848

7,521

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

competition 2006
causedstrength of the yen.
2007 by2008the2009prolonged
2010

XXX

2012

6892011¥ million
160,000

40,0000020102005 2006 2007 2008 20092005 2004 2007 2008 200911

Review of Operations

Real Estate and Other Businesses
Real Estate Management, etc.

220,653

221,368

212,929

2009 2010 2011 2012 201316,532

15,00017,528Orders totaled ¥2,239 million (US$23million), sales came to ¥2,239 million
16,034

220,653

221,368

212,929(US$23 million), and operating income
12,591

2,239
201,680

2,407
227,1132,349

Net Income¥ million
Performancein fiscal 2012
20,000180,000

10,000

50.00

44.54

37.50

47.22

33.93

12,591

10,000¥43.19

16,532

17,52815,0002009 2010 2011 2012 2013

25.00

22.33

8,281

XXX

689746Net Income per Share¥ million
20,000868

8,00002009
2012 201020132011 2012 201316,03412,000Net Income 1,130

2,239

2,407

144,461
2,349

119,347

124,118
2,402

99,363Operating Income¥ million
16,0005,0000

2011

2010

8,281

2013

million).

60,00002012

Capital Expenditures
93,84850,0002013¥ million
240,000750¥ million
3,000

1,500

2,402

XXX

26.8

Sales

Operating Income

100,0002012

amounted to ¥840 million (US$802,250

2011

120,000

1,5002011
2006 2007 2008 20102009 2010

150,000Net Sales

Sales

35.5

7500

¥ million
200,000

2,250

1,500

15

JSW Apartment Building Development(Fuchu, Tokyo)
00¥ million
3,000

201,680

60,000227,113

750

2,239

2,389

2,354

2,412

2,250

46.6

30

Orders Received35.8

Sales

45

Net Sales

120,0002010¥ million
3,000

180,000

1,500

2006 2007 2008 2009 2010

¥ billion60¥ million
240,000

2,239

Business Office Development(Fuchu Intelligent Park)

0

2,389

15

2,250

2,354

XXX

45.5

44.4

42.930¥ million
3,000

2,412

Orders Received

45

38.5

Orders Received¥ billion
60

Capital¥5,570 million (US$59 million), withthe majority spent on
5,000
750 expenditures for the reporting period totaled
12.50
4,000
installation, improvement and maintenance work on a variety of production facilities.

0000	Detailsof capital2012
expendituresby individual
businesssegment are as follows.
2013
2009 2010 2011 2012 2013

2010
2011
2005 2006 2007 2008 20092005 2004 2007 2008 200902009 2010 2011 2012 2013	In the Steel and Energy Products Business, capital expenditures totaled ¥2,575 million (US$27 million). This

44.54

43.19

47.22

the Muroran Plant.

Net Income per Share

Operating Income¥ million
expenditureconsisted largely of investments in the¥ constructionof a special melting shop to replace aging ones at50.00
16,00037.50
12,000the Industrial Machinery Products Business, capital	Inexpenditures came to ¥2,860 million (US$30 million),

1,130

8,000

25.00

33.93

primarily as a result of investments in upgrading of machine processing facilities at the Hiroshima Plant.
868

22.33

XXX

689

746	In the Real Estate and Other Businesses, capital expenditures consisted primarily of the upgrading of facilities
on realestate for rental purposes, totaling ¥73 million(US$0.7 million).
12.50
4,000	Companywide capital expenditures unallocable to individual segments came to ¥60 million (US$0.6 million).
00122005 2004 2007 2008 20092009 2010 2011 2012 2013