Company Name

U-SHIN LTD.

Headquarters:

4th floor, Shiba NBF Tower, 1-1-30, Shiba Daimon, Minato-ku, Tokyo, 105-0012 Japan

Year Established:

1926

Homepage:

http://www.u-shin-ltd.com/English/

Business
Segment :

-A manufacturer of electrical components.
-The Company conducts its business in three operating segments; Automotive Components Division, Industrial Machinery Division, and Housing Equipment Division.
-Three core product lines at the Automotive Components Division are lock sets, door latches, and air conditioning controllers.
-The Company focuses on development and production of high-value added electronic composite parts as its new key product line. These include fully-automatic air conditioning controllers; smart entry systems; electric steering lock systems, and other products.

Products:

Key sets
Flip keys
Steering locks (Smart) (Knob type)
Steering locks (Smart) (Key insertion type)
Key sets

Electronic devices
Keyless entry systems
Electric print plates

Air conditioning controllers
Automatic air conditioning controllers (LCD)
Air conditioning controllers (Triple dial)
Air conditioning controllers (Triple pushbutton)
Air conditioning controllers (In-mold)

Latches
Side latches
Upper/Lower latches
Lift gate latches
Bonnet latches

Handles
Outside door handles
Inside door handles

Switches
Combination switches
Independent triple control switches
4WD/2WD switches
Backlight switches

Customers:

<Japan>
Mazda, Mitsubishi Motors, Suzuki, Fuji Heavy Industries, UD Trucks, Nissan, Valeo Thermal Systems Japan, Denso, Bosch, Hino, Mitsubishi Fuso Truck and Bus, Isuzu, Daihatsu, Honda, Calsonic Kansei, Japan Climate Systems, Visteon

<Global>
Toyota, Mitsubishi Motors North America, Skoda, Volkswagen, Netherlands Car B.V., Auto Alliance (Thailand) Co., Ltd., Mitsubishi Motors (Thailand) Co., Ltd., Honda Automobile (Thailand) Co., Ltd., GM Holden, Honda Automobile (China) Co., Ltd., Jiangxi Changhe Suzuki Automobile Co., Ltd., Changan Ford Mazda Automobile Co.,Ltd., China FAW Group Corporation, Maruti Suzuki, Ford, CAMI, Audi, Magyar Suzuki, Perusahaan Otomobil Nasional Sdn Bhd., Perusahaan Otomobil Kedua Sdn Bhd., Calsonic Kansei (Thailand) Co.,Ltd., PT. Indomobil Suzuki International, Valeo, Guangzhou Honda Automobile Co., Ltd., Chongqing Changan Suzuki Automobile Co. Ltd., Changan Ford Mazda Automobile Co.,Ltd., Honda Siel Care India, Hyundai Motor India

Sales Ratio to Major Customers

Number of Employees:

Shareholders :

Listed on the first section of the Tokyo Stock Exchange.

(As of November 30, 2010)

Board Member :

Kohji Tanabe (President)

Business Highlights :

Factors
1)
<Japan>
-New car sales in Japan decreased following the termination of the eco-car subsidy programs in the fall of 2010. The decrease, however, had no significant impact either on automakers production volumes, which were supported by strong exports, or on the company’s domestic sales.

<China>
-Sales and local production continued to grow in China.

Contracts

-The Company is expecting to win a program to supply its smart key technology to Mitsubishi Motors Corporation. The motor-driven electric steering lock system is likely to be featured on the new RVR, which is coming to the market in the spring of 2011. The Company is now set to expand business with Mitsubishi, leveraging this first electric lock program with the automaker. Mitsubishi, the Company aims to expand business with the automaker. (From an article in the Nikkan Jidosha Shimbun on Dec. 7, 2009)

-The Company was awarded the first order from Nissan. Key sets for passenger cars Nissan produces at its joint venture in China will begin to be delivered in summer 2011. In line with stable growth in its China operation, the Company plans to relocate its manufacturing site in Zhongshan, Guangdong and renovate the facility to double its annual production capacity by the end of 2011. It has recently decided the new location and completed procurement of the land. While it has hitherto produced components of air conditioning and other systems for Nissan, the Company has been conducting the business only as an indirect Tier-2 supplier. (From an article in the Nikkan Jidosha Shimbun on Jul. 14, 2010)

-The Company has won a new contract from Volkswagen to supply key sets for installation in vehicles assembled in Mexico. This is the first time for the Company to win business from Volkswagen in a country other than the U.S. within the NAFTA trade bloc. The key sets will be produced at the Company's Thai facility as in the case of those supplied to Volkswagen of America, and delivery is scheduled to begin in the middle of 2012. Following its achievements in North America, the locking supplier is now going to aim at the automaker's plants in China as the next target. It believes that dealing with one of the world's largest car manufacturers in major markets will help the Company strengthen its business structure and improve profitability. (From an article in the Nikkan Jidosha Shimbun on July. 28, 2010)

Business Restructuring

-The Company is stepping up a policy of supplying components from its most competitive global production source. It will seek optimal allocation of production volume and types of components at each production site by fully utilizing its global production network covering Japan, the U.S., Europe and Asia, with the aim of winning a firm competitive edge in cost. For this purpose, the Company is set to establish a complementary global production scheme that allows a flexible transfer of a production item from one plant to another in accordance with fluctuations of the currency and other factors so that a component or a unit produced at emerging countries can be supplied in a timely manner to developed markets like Europe, the U.S. and Japan. This global complementary supply policy will commence with production of the whole volume of key sets at the Thai plant for supply to the new U.S. plant of Volkswagen starting 2011. (From an article in the Nikkan Jidosha Shimbun on Apr. 9, 2010)

Recent Developments Outside Japan

-The Company is stepping up efforts to win business contracts with new customers in North America. The new car demand in the local market, which has plummeted since the financial crisis, is beginning to turnaround and showing a sign of sustainable recovery in the midterm perspective. With the aim of meeting reviving demand all carmakers are turning aggressively to new car development activities that have been temporarily frozen. The Company is poised to take advantage of this opportunity to make technological presentations in an attempt to expand its customer base, targeting such carmakers as GM, Fiat-group Chrysler and Nissan that have plants in North America. (From an article in the Nikkan Jidosha Shimbun on June. 4, 2010)

Affiliates
Companies :

Major Subsidiaries and Affiliates (Automotive Related)

Sales Data:

Asia: China, Thailand, Malaysia
Other: Hungary, USA

North America: USA
Europe: Hungary
Asia: China, Thailand, Malaysia

Financial Status :

 Consolidated

Non Consolidated

Source :

http://www.u-shin-ltd.com/English/