To our shareholders and investors 114th Semiannual Business Report April 1, 215 to September 3, 215 Security Identification Code: 6516 http://www.sanyodenki.co.jp 114 th
To Our Shareholders In new product development, we succeeded in developing a number of new products as planned, and they are competitive with the best in the industry in terms of performance, energy saving and reliability, as described below. In manufacturing, we began production of servo amplifiers in addition to power supplies, stepping motors and servo motors in the third factory of SANYO DENKI PHILIPPINES, INC. To Our Shareholders 1 I would like to take the opportunity of the publication of our 114th Semiannual Business Report to say a few words to you. The SANYO DENKI Group has been carrying out structural reforms since the beginning of the last fiscal year in an effort to deliver products and services that boast uniform high quality to customers around the world. Additionally, we have been working to have the Group companies around the world perform the same functions as the parent company in Japan. Specifically, we have established technical centers at each base and have introduced a uniform system in terms of accounting, internal rules and the development of human resources across the Group. However, in the second quarter a sharp slowdown in the Chinese economy significantly impacted the factory automation industry, one of our major markets. The Company s operating results for the interim period ended September 3, 215 are described below. For the interim period, we declared cash dividends of 9. per share, an increase of 1. compared with the same period last year. We thank you for your continued support and understanding of the Group. December 215 Shigeo Yamamoto CEO / President & COO In May 215 we established a new local subsidiary, SANYO DENKI INDIA PRIVATE LIMITED, in Chennai, the gateway to southern India.
Consolidated Financial Highlights Net Sales 1, 91,745 8, 69,972 67,67 64,5 6, 45,71 4,41 4, 37,457 32,3 31,371 2, Ordinary Income 1, 8, 6, 4, 2, 8,49 5,369 4,917 4,53 3,95 2,722 2,363 1,876 3,141 Net Income Attributable to SANYO DENKI 7, 6, 5,72 5, 4,367 4, 3,727 3, 2,812 2,957 2,848 1,959 2, 1,656 1,72 1, 212/3 213/3 214/3 215/3 215/9 212/3 213/3 214/3 215/3 215/9 212/3 213/3 214/3 215/3 215/9 First half Full year First half Full year First half Full year Net Income per Share Cash Dividends per Share Cash Flow & Free Cash Flow (Yen) 1 8 6 4 2 92.9 7.3 6.1 45.27 47.61 45.85 31.55 26.67 17.26 (Yen) 2 16 15. 15. 13. 12 8 7. 6. 5. 4 17. 9. 8. 1, 8, 7,667 6,556 6, 5,714 5,81 5,214 4, 3,648 3,35 2,214 2, 1,858 1,97 Financial Highlights 2 212/3 213/3 214/3 215/3 First half Full year 215/9 212/3 213/3 214/3 215/3 First half Full year 215/9 212/3 213/3 214/3 215/3 Cash Flow Free Cash Flow 215/9 Capital Expenditure & Depreciation Net Assets & Return on Equity Total Assets & Return on Assets 4, 3, 2, 1, 985 2,519 1,986 1,82 2,337 2,19 3,29 2,51 756 859 6, 45, 3, 15, 38,91 11.9 41,495 7.4 45,819 8.5 51,618 52,51 11.7 7.5 (%) 25 2 15 1 5 1, 8, 6, 4, 2, 69,863 6.1 68,979 4.3 78,232 5.1 9,176 6.8 85,393 4.5 (%) 1 8 6 4 2 212/3 213/3 214/3 215/3 Capital Expenditure Depreciation 215/9 212/3 213/3 214/3 215/3 Net Assets Return on Equity 215/9 212/3 213/3 214/3 215/3 Total Assets Return on Assets 215/9 Note: Previously, in preparing the consolidated financial statements, the necessary adjustments for consolidated accounting were made using the financial statements of 14 overseas consolidated subsidiaries as of three months earlier. Effective from the fiscal year ended March 31, 215, however, for acquiring more accurate consolidated financial statements, we have employed on our accounting method to use the financial statements of the overseas consolidated subsidiaries for the same period as that of the Company. Accordingly, the above results for the interim period ended September 3, 214 include the three-month results from January 1 to March 31, 214 of the overseas consolidated subsidiaries.
New Product Highlights Cooling Systems Products Power Systems Products Servo Systems Products San Ace is SANYO DENKI s brand name for cooling systems products, such as cooling fans and cooling fan units. E.g.: used in cooling quick chargers for electric vehicles SANUPS is SANYO DENKI s brand name for power systems products, including power conditioners for photovoltaic generation systems, uninterruptible power supplies (UPS), inverters and engine generators. E.g.: used in backup power of communication equipment SANMOTION is SANYO DENKI s brand name for servo systems, such as servo motors, servo amplifiers, stepping motors, stepping drivers, motion controllers and encoders. E.g.: used in joint axes of robots New Product Highlights 9GV type 3 AC Fan San Ace 9AD Type This product is a 92 92 38 mm AC fan that delivers industry-leading* 1 low power consumption, high airflow and high static pressure. It provides the superior performance of a DC fan with the flexibility of AC input by internally converting AC power into DC power, making it a suitable cooling solution for general industrial machines, factory automation-related equipment, and PV inverters. Splash Proof Fan with High Airflow and a Long Lifespan San Ace 9WL Type This product is a 4 4 28 mm splash proof fan with high airflow and a long lifespan, achieving an industry-leading* 1 long lifespan with its IP68-rated* 2 water and dust resistance. It has an expected life of 15, hours (approximately 17 years), making this fan ideal for equipment that must operate without maintenance for extended periods, such as communication relay stations, PV inverters, and LED lights. High Airflow Fan San Ace 9GV Type This product is a 14 14 38 mm high airflow fan that delivers industry-leading* 1 high airflow and high static pressure. Servers, communications equipment, and power supplies are becoming denser and generating more heat. This fan provides effective cooling even for these devices with its greatly increased airflow and static pressure.
High Static Pressure Fan San Ace 9HV Type This product is a Ø172 15 51 mm high static pressure fan that delivers industry-leading* 1 high static pressure. It is suitable for servers, data storage systems, communications equipment, industrial inverters, and PV inverters. Reversible Flow Fan San Ace 9RF Type This product is a Ø136 28 mm reversible flow fan that makes it possible to blow air in both directions, and is the Company s first such product. As wind direction can be switched with a single fan, this product reduces the number of fans, which contributes to reduction of equipment costs and space saving. This product is suitable for house ventilation, cold drink vending machines, food display cases, LED lights, and printers. Power Conditioner for Photovoltaic Generation Systems SANUPS P73K This product is a power conditioner for photovoltaic generation systems (PV inverter) that can cut the peak power in combination with a lithium-ion rechargeable battery. The combined use of the PV systems and storage batteries provides the optimal control of power for demand. New Product Highlights 4 Stepping Systems SANMOTION Model No.PB The lineup of SANMOTION Model No. PB closed-loop stepping systems has been expanded with a DC input, 4-axis integrated driver. This single driver can control up to four stepping motors and facilitate installation space-saving as well as reduce the amount of wiring, because there is just one power supply and input/output signal cable. It is suitable for semiconductor manufacturing equipment, food machinery, and general industrial machinery. Servo Systems SANMOTION R ADVANCED MODEL The lineup of SANMOTION R ADVANCED MODEL servo systems has been expanded with an EtherCAT interface multi-axis servo amplifier. With a baud rate of 1 Mbps and a 125 μsec of minimum communication cycle, the high-speed EtherCAT helps making position or speed commands more precise and device operation smoother. This compact and space-saving 4-axis servo amplifier is suitable for chip mounters, semiconductor manufacturing equipment, and conveying machines. *1: Information based on our own research as of November 215, collected from same-capacity domestic cooling fans for industrial use. *2: Information based on testing procedure for International Electrotechnical Commission (IEC) standard IEC 6529.
Topics Full-Fledged Operation of Technical Centers Technical centers has been established in the eight locations: The United States, China (Shenzhen and Shanghai), Taiwan, Singapore, Thailand, Germany, and France. As an overseas research and development base for our products, each technical center works to develop original products to meet local customers needs, and conduct technical support and product maintenance. Highlights of the Year Double chamber measuring device (for measuring airflow and static pressure) Acoustic anechoic chamber 3D printer 5 Development of the Indian Market In May 215, the India liaison office of SANYO DENKI SINGAPORE PTE. LTD. in Chennai in southern India was incorporated and became a subsidiary named SANYO DENKI INDIA PRIVATE LIMITED. In November 215, SANYO DENKI INDIA PRIVATE LIMITED GURGAON OFFICE was established and began operations as a sales base in Gurgaon near Delhi in northern India. It will expand our sales reach and technical support throughout the Indian market. SANYO DENKI INDIA PRIVATE LIMITED SANYO DENKI INDIA PRIVATE LIMITED GURGAON OFFICE
Expansion of Production Items of SANYO DENKI PHILIPPINES, INC. The third factory of SANYO DENKI PHILIPPINES, INC. started new production of servo amplifiers. Taking advantage of its efficient automated production lines, SANYO DENKI PHILIPPINES, INC., which is currently composed of three factories, has manufactured products related to cooling systems, power systems and servo systems, and also designed and developed fan products. Automated production line Highlights of the Year Third Place in Newspaper Category in the 5th Japan Industrial Advertisement Award 6 SANYO DENKI was awarded third place in the series 2 section of the newspaper category in the 5th Industrial Advertisement Award sponsored by Nikkan Kogyo Shimbun. The awarded entry this year is a series of advertisements of SANYO DENKI s three product brands: SANMOTION, SANUPS, and San Ace, which were planned and created completely in-house at the Public Relations Department of SANYO DENKI. SANMOTION SANUPS San Ace
Review of Operations Review of Consolidated Operations 7 During the six-month period ended September 3, 215, the overall Japanese economy was stagnant despite the continuous but weak recovery in capital expenditures, and mainly due to the impact of economic slowdown in China. In this economic climate, demand weakened from manufacturers of machine tools, robots, semiconductor manufacturing equipment and other capital-intensive equipment the Company s primary customers. As a result, consolidated net sales for the six-month interim period under review decreased 1.3% year on year, to 4,41, while consolidated operating income fell 14.9%, to 3,41. Consolidated ordinary income declined 2.5%, to 3,141, and net income attributable to SANYO DENKI amounted to 1,959, representing a 31.2% drop from the previous six-month period. The amount of orders received decreased Net Sales (after adjustment*) 4,41 YoY.% Down 16.6%, to 4,228, and the order backlog fell 26.1%, to 12,544. Previously, in preparing the consolidated financial statements, the necessary adjustments for consolidated accounting were made using the financial statements of 14 overseas consolidated subsidiaries as of three months earlier. Effective from the fiscal year ended March 31, 215, however, to prepare the most up-todate consolidated financial statements, we have changed our accounting method to use the financial statements of the overseas consolidated subsidiaries for the same period as that of the Company. Accordingly, the results for the interim period ended September 3, 214 include the three-month results from January 1 to March 31, 214 of the overseas consolidated subsidiaries. Operating Income (after adjustment*) 3,41 YoY 3.1% Down Ordinary Income (after adjustment*) 3,141 YoY 1.9% Down Net Income Attributable to SANYO DENKI (after adjustment*) 1,959 YoY 22.7% Down Order Received 4,228 YoY 16.6% Down Order Backlog 12,544 YoY 26.1% Down * The figures have been restated as a year-on-year change after adjustment compared to the six-month results for the interim period of the previous fiscal year that excluded the three-month results from January 1 to March 31, 214 of the overseas consolidated subsidiaries.
Operating Results by Reporting Segment Net Sales Composition Southeast Asia 13.6% Japan 64.2% East Asia 11.1% Europe 3.9% North America 7.2% Operating Results by Reporting Segment Japan North America Net Sales 4,18 Net Sales 4,465 Segment Profit 2,175 Segment Profit 176 Operating in Japan are the Company and its consolidated subsidiaries SANYO KOGYO CO., LTD. and SANYO DENKI Techno Service CO., LTD. Net sales decreased 2.1% year on year, to 4,18, and segment profit fell 11.3%, to 2,175. The Company has a consolidated subsidiary in North America: SANYO DENKI AMERICA, INC. Net sales amounted to 4,465, down 17.6%, and segment profit was 176, down 13.4%. Review of Consolidated Operations 8 Europe Net Sales 2,434 Segment Profit 181 The Company has consolidated subsidiaries SANYO DENKI EUROPE S.A. and SANYO DENKI GERMANY GmbH in Europe. Net sales declined 26.2% year on year, to 2,434, and segment profit dropped 47.2%, to 181. East Asia Net Sales 6,93 Segment Profit 182 The Company s consolidated subsidiaries operating in East Asia consist of SANYO DENKI SHANGHAI CO., LTD., SANYO DENKI (H.K.) CO., LIMITED, SANYO DENKI TAIWAN CO., LTD., SANYO DENKI KOREA CO., LTD., and SANYO DENKI ENGINEERING (Shanghai) CO., LTD. which is a subsidiary of SANYO DENKI SHANGHAI CO., LTD., as well as SANYO DENKI (Shenzhen) CO., LTD., SANYO DENKI (Zhongshan) CO., LTD. and SANYO DENKI ENGINEERING (Shenzhen) CO., LTD., which are subsidiaries of SANYO DENKI (H.K.) CO., LIMITED. Net sales amounted to 6,93, down 18.4%, and segment profit was 182, down 46.%. Southeast Asia Net Sales 8,463 Segment Profit 223 The Company s consolidated subsidiaries operating in Southeast Asia consist of SANYO DENKI PHILIPPINES, INC., SANYO DENKI SINGAPORE PTE. LTD., SANYO DENKI INDIA PRIVATE LIMITED as well as SANYO DENKI (THAILAND) CO., LTD. and SANYO DENKI TECHNO SERVICE (SINGAPORE) PTE. LTD., both of which are subsidiaries of SANYO DENKI SINGAPORE PTE. LTD. Net sales decreased 23.1% year on year, to 8,463, and segment profit fell 23.1%, to 223. Note: With regard to the net sales and segment profit from North America to Southeast Asia above, the year-on-year change between the six-month results for the interim period of the previous fiscal year, excluding the results of the overseas consolidated subsidiaries from January 1 to March 31, 214 and the results for the interim period ended September 3, 215, is as follows: Net sales North America: up 25.6%, Europe: up 9.8%, East Asia: up 7.5%, Southeast Asia: up 15.5%. Segment profit North America: up 5.%, Europe: down 24.6%, East Asia: down 3.%, Southeast Asia: up 6.1%.
Operating Results by Business Segment Net Sales Composition Net Sales by Business Segment Review of Consolidated Operations Electrical Works Contracting Division 2.6% Electrical Equipment Sales Division 9.8% Servo Systems Division 49.4% Cooling Systems Division 26.8% Power Systems Division 11.4% 1, 8, 6, 4, 2, 842 2,56 1,915 4,776 8,921 67,67 5,945 18,1 2,766 5,274 21,45 1,629 214/3 215/3 87,14 8,491 4,17 29,666 1,96 4,429 3,647 31,371 14,27 12,42 19,781 14,324 1,58 4,41 3,962 19,962 4,618 1,89 215/9 First half Full year 9 Note: Net sales for the year ended March 31, 215 are shown as the operating results that exclude the results of the overseas consolidated subsidiaries from January 1 to March 31, 214. Cooling Systems Division San Ace, SANYO DENKI s brand name for cooling systems products, experienced increased demand from the telecommunications and network industry. Conversely, reflecting sluggish demand both for power conditioners for photovoltaic generation systems from the environment industry and for machine tools from the factory automation industry, orders received declined. As a result, net sales decreased 15.3% year on year, to 1,89. The amount of orders received fell 15.3%, to 1,739, and the order backlog climbed 4.7%, to 2,862. Power Systems Division SANUPS, SANYO DENKI s brand name for power supply equipment, saw stagnant demand for power conditioners for photovoltaic generation systems due mainly to the increased time necessary for system interconnection deliberation. On the other hand, we enjoyed brisk demand for power conversion supplies from the telecommunications and network sector, stimulating new demand from other industrial sectors. Accordingly, net sales fell 13.3% year on year, to 4,618. The amount of orders received decreased 8.3%, to 6,114, and the order backlog declined 3.7%, to 3,782.
Servo Systems Division SANMOTION, SANYO DENKI s brand name for servo system products, enjoyed strong demand for domestic capital expenditures. In contrast, orders received declined due to a decrease in demand from domestic manufacturers of machine tools and robots exported to China, and sluggish demand for semiconductor manufacturing equipment, in addition to a significant drop in demand caused by the economic slowdown in China. Consequently, net sales decreased 1.2% year on year, to 19,962. The amount of orders received fell 2.7%, to 18,26, and the order backlog declined 17.4%, to 4,294. Electrical Equipment Sales Division Sales of industrial electrical equipment, control equipment and materials for electric equipment showed signs of stagnation in machine tools, the industrial robots-related market and the medical-related equipment market, despite steady growth in the general industrial equipment market. Demand remained healthy for equipment for control panels for photovoltaic generation systems. In the steel-related market, which saw stable demand, abundant orders were received for the replacement of outdated equipment for production facilities. We saw strong demand for spare parts for critical equipment necessary to maintain stable operations. Regarding business transactions that were made as an agent, net sales and cost of sales were recorded as total amounts for the year ended March 31, 215, but we changed the method of recording the net amount of net sales and cost of sales (subtracting the cost of sales from net sales) from the beginning of the fiscal year under review. Consequently, net sales increased 8.6% year on year, to 3,962. The amount of orders received fell 15.4%, to 4,138, and the order backlog dropped 8.3%, to 837. Review of Consolidated Operations 1 Electrical Works Contracting Division As for works related to steel mill plant equipment, renewal construction works for superannuated production equipment and repair works for facilities maintenance progressed as expected. Conversely, regarding works related to total construction including equipment installation, and construction design of photovoltaic generation systems, we experienced a slight decline in orders received from new customers due to the reduced purchase price of photovoltaic generation power. As a result, net sales declined 3.5% year on year, to 1,58. The amount of orders received fell 5.8%, to 1,28, and the order backlog decreased 1.4%, to 767. Note: With regard to net sales and orders received for the first three segments above, from the Cooling Systems Division to the Servo Systems Division, the year-on-year change between the six-month results for the interim period of the previous fiscal year, excluding the results of the overseas consolidated subsidiaries from January 1 to March 31, 214 and the results for the interim period ended September 3, 215, is as follows: Net sales Cooling Systems Division: up 1.7%, Power Systems Division: down 12.4%, Servo Systems Division: up.9%. Orders received Cooling Systems Division: up 1.8%, Power Systems Division: down 7.5%, Servo Systems Division: down 11.1%.
Consolidated Financial Statements Consolidated Balance Sheets (Summary) Total Assets 9,176 Total Assets 85,393 Liabilities and Net Assets 9,176 Liabilities and Net Assets 85,393 Consolidated Financial Statements 11 Tangible Fixed Assets 2,127 Intangible Fixed Assets 56 Investments and Other Assets 9,54 Current Assets 6,488 Fixed Assets 29,687 Current Assets 56,648 Fixed Assets 28,745 Tangible Fixed Assets 2,3 Intangible Fixed Assets 471 Investments and Other Assets 8,27 Current Liabilities 31,59 Long-term Liabilities 7,48 Shareholders Equity 47,96 Accumulated Other Comprehensive Income 3,75 Noncontrolling Equity 6 Liabilities 38,558 Net Assets 51,618 Liabilities 32,892 Net Assets 52,51 Current Liabilities 26,555 Long-term Liabilities 6,336 Shareholders Equity 49,31 Accumulated Other Comprehensive Income 3,193 Noncontrolling Equity 6 FY 215 As of March 31, 215 FY 216 As of September 3, 215 FY 215 As of March 31, 215 FY 216 As of September 3, 215 Assets, Liabilities and Net Assets Assets Major factors behind the change in total assets were decreases of 3,695 in trade notes and accounts receivable, 775 in investments in securities, and 553 in cash and bank deposits. Liabilities Significant changes in liabilities included decreases of 2,176 in trade notes and accounts payable, 1,355 in deferred tax liabilities, and 399 in long-term debt. Net Assets Principal factors behind the change in net assets were an increase of 1,4 in retained earnings, a decrease of 525 in net unrealized holding gain on securities, and an increase of 1 in remeasurements of defined benefit plans.
Consolidated Statements of Income (Summary) Net Sales 4,429 Gross Profit 9,43 Operating Income 3,138 Ordinary Income 3,524 Net Income Attributable to SANYO DENKI 2,534 Net Sales 4,41 Cost of Sales 3,762 Gross Profit 9,648 SG&A Expenses 6,66 Operating Income 3,41 Other Income 189 Other Expenses 9 Ordinary Income 3,141 Income Taxes 1,181 Net Income Attributable to Noncontrolling Interests Net Income Attributable to SANYO DENKI 1,959 Consolidated Financial Statements FY 215 April 1, 214 to September 3, 214 FY 216 April 1, 215 to September 3, 215 FY 215 Note: The above graph for the interim period ended September 3, 215 are shown as the operating results that exclude the results of the overseas consolidated subsidiaries from January 1 to March 31, 214. 12 Consolidated Statements of Cash Flows (Summary) Cash and Cash Equivalents at Beginning Period 13,151 Cash Flows from Operating Activities 1,858 Cash Flows from Investing Activities 761 Cash Flows from Financing Activities 1,33 Net Decrease in Cash and Cash Equivalents 66 Cash and Cash Equivalents at End of Period 12,851 FY 216 April 1, 215 to September 3, 215
Investor Information Investor Information 13 Breakdown by Type of Shareholders Securities Companies 999,26 shares 1.54% Foreign Investors 12,864,812 shares 19.83% Other Japanese Corporations 16,514,736 shares 25.46% Treasury Stock 2,754,81 shares 4.25% Breakdown by Number of Shares Held Individuals and Others 17,18,381 shares 26.38% Financial Institutions 14,619,899 shares 22.54% Number of Shares and Shareholders (As of September 3, 215) Number of Authorized Shares 25,, shares Number of Issued Shares 64,86,935 shares Number of Shareholders 4,926 Major Shareholders (As of September 3, 215) Thousands % of Total Name of Shares Shares KYODO KOGYO CO., LTD. 9,229 14.23 Mizuho Bank Ltd. 2,274 3.51 CBNY-GOVERNMENT OF NORWAY 2,126 3.28 TOKIO MARINE & NICHIDO FIRE INSURANCE CO., LTD. 1,913 2.95 SANYO KAIHATSU CO., LTD. 1,594 2.46 The Master Trust Bank of Japan, Ltd. (trust account) 1,511 2.33 Nippon Life Insurance Company 1,339 2.6 Japan Trustee Services Bank, Ltd. (trust account) 1,31 2.1 THE HACHIJUNI BANK, LTD. 975 1.5 Sumitomo Mitsui Trust Bank, Limited. 97 1.5 Notes: 1.The number of shares shown in the above list is rounded down to the nearest thousand shares. 2. The Company holds 2,754 thousand shares of treasury stock, which are excluded from the major shareholders lis4ed above. 1 to 999 shares.43% 1, to 4,999 shares 7.61% 5, to 9,999 shares 3.52% 1, to 49,999 shares 7.37% Stock Price Range (Tokyo Stock Exchange) (As of September 3, 215) Stock Price (Yen) 1,25 1, 75 5, or more shares 81.7% 5 25 1 11 12 1 2 3 4 5 6 7 8 9 1 11 12 1 2 3 4 5 6 7 8 9 213 214 215 Trading Volume (Thousands of shares) 9, 6, 3, 1 11 12 1 2 3 4 5 6 7 8 9 1 11 12 1 2 3 4 5 6 7 8 9 213 214 215
Corporate Information Corporate Data (As of September 3, 215) Board of Directors and Corporate Auditors (As of September 3, 215) Company Name SANYO DENKI CO., LTD. Chief Executive Officer* Shigeo Yamamoto Established August 1927 Director* Kaoru Tamura Head Office 3-33-1, Minami-Otsuka, Toshima-ku, Director* Nobumasa Kodama Director* Yoshimasa Matsumoto Tokyo 17-8451, Japan Director Yuichiro Miyake TEL: +81-3-5927-12 Director Toru Suzuki Paid-in Capital 9,926 Director Hiroshi Suwa Number of Employees 3,41 (Consolidated) Audit & Supervisory Board Members (Full-time) Sakon Hatanaka Audit & Supervisory Board Members (Full-time) Fumio Amano Audit & Supervisory Board Members (Part-time) Hisayuki Ogura Audit & Supervisory Board Members (Part-time) Takeshi Yamamoto *Operating Officer Operating Officers (As of September 3, 215) President and Chief Operating Officer Shigeo Yamamoto Senior Executive Operating Officer In charge of Parchasing, General Manager of Parchasing Headquarters Kaoru Tamura Senior Executive Operating Officer In charge of Technical Development, General Manager of Cooling Systems Div. Nobumasa Kodama Major Operating Officer In charge of Sales Organization, General Manager of Sales Headquarters, In charge of Overseas Sales Bases Yoshimasa Matsumoto Major Operating Officer In charge of Quality Control, General Manager of Power Systems Div. Shigejiro Miyata Operating Officer In charge of Production Organization and Production Engineering, Chairman and Director of SANYO DENKI PHILIPPINES, INC. Kazuyuki Kitazawa Operating Officer Deputy General Manager of Sales Headquarters, In charge of Power Systems Business Yasuyuki Koizumi Operating Officer In charge of Administrative Organization, Manager of Planning Dept., Manager of Accounting Dept. Kanichiro Tamokami Operating Officer Representative of Ueda Factories, President and Representative Director of SANYO DENKI Techno Service Co., Ltd. Keiichi Kitamura Operating Officer General Manager of Servo Systems Div. Toshihiko Baba Corporate Information 14 Organization (As of September 3, 215) The Board of Directors Chief Executive Officer Directors The Board of Operating Officers President and Chief Operating Officer Auditing Dept. Operating Officers Accounting Dept. General Affairs Dept. Human Resources Dept. Legal Dept. Information System Management Dept. Planning Dept. Public Relations Dept. Sales Headquarters Cooling Systems Div. Power Systems Div. Servo Systems Div. Purchasing Headquarters Audit & Supervisory Board
SHAREHOLDER INFORMATION Fiscal Year Regular General Meeting of Shareholders Record Date for Shareholders Entitled to Receive Dividends Method of Notification Custodian of Shareholder Registration Handling Office Mailing Address and Telephone Referral From April 1 to March 31 of the following year To be held within three months from April 1 each year For year-end cash dividends: March 31 of each year For interim dividends: September 3 of each year Via electronic notification. (In case electronic notification is unavailable because of unavoidable circumstances, notification will be published in the Nihon Keizai Shimbun.) JAPAN SECURITIES AGENTS, LTD. 1-2-4, Nihonbashi-Kayabacho, Chuo-ku, Tokyo 13-822, Japan JAPAN SECURITIES AGENTS, LTD. (Head Office) 1-2-4, Nihonbashi-Kayabacho, Chuo-ku, Tokyo 13-822, Japan JAPAN SECURITIES AGENTS, LTD. (Agency Department) 2-8-4, Izumi, Suginami-ku, Tokyo 168-862, Japan Toll Free: 12-77-843 (In Japan only) Stock-related Inquiries and Notifications: Payment of unpaid dividends Please contact the above-mentioned custodian of shareholder registration. Contact for changes of address, requests for buyback of odd-lot shares or sales of additional lots, and the payment of dividends Please contact the securities company with which your account is held. * If you set up a special account in lieu of an account with a securities company, please contact JAPAN SECURITIES AGENTS, LTD. As for shareholders of former SANYO KOGYO CO., LTD., please contact Tokyo Securities Transfer Agent Co., Ltd. (Toll Free: 12-49-79) as the account managing agency for procedures associated with shares recorded in the special account. Requests regarding various kinds of share-related procedures can be made via the Internet. JAPAN SECURITIES AGENTS, LTD.: http://www.jsa-hp.co.jp/name/index.html Tokyo Securities Transfer Agent Co., Ltd.: http://www.tosyodai.co.jp/holder/listed/procedure/index.html (Some of the forms can be printed out.) SANYO DENKI s IR Information Section: http://www.sanyodenki.co.jp/ir/index_ir.html This Business Report contains forward-looking statements including earnings forecasts. The actual results may differ materially from the forecasts herein due to various factors. Head Office: 3-33-1, Minami-Otsuka, Toshima-ku, Tokyo 17-8451, Japan TEL: +81-3-5927-12 URL: http://www.sanyodenki.co.jp