During fiscal 2018, (1 April 2017 to 30 March 2018), the Koito Group reinforced their overseas production capacity, strengthened development capability, and expanded marketing activities. Following on their establishment of a new manufacturing subsidiary in Brazil the previous fiscal year, Koito launched such a subsidiary in Malaysia last October.
The Group’s consolidated net sales increased 0.9% year on year to ¥848bn (about €6.5bn). The increase was due to sales growth in their core vehicle lighting equipment segment, driven by an increase in new orders and a shift in automobile lamps to LED. Sales in Japan increased 12.7% year on year to ¥364.6 billion (~€2.8bn). This was attributable to an increase in domestic automobile production volume, an increase in new orders, and a shift in automobile lamps to LED. Sales were ¥186.8bn (~€1.4bn) in North America, despite decreased automobile production—almost as same as the previous year. In China, sales decreased 27% year on year to ¥157.7 billion (~€1.2bn). This decrease was caused by the status change of Shanghai Koito from a consolidated company to a company accounted for by the equity method, starting the end of the second quarter.
Sales in Asia increased 18% year on year to ¥96.5bn (~€740m), mainly driven by an increase in automobile production volume, an increase in new orders in India, Thailand and Indonesia, and a shift in motorcycle lamps to LED. And in Europe, sales increased 39% year on year to ¥43bn (~€330m) with the same drivers: more cars, more orders, and the ongoing shift to LED.
