tbk co., ltd
TRANSCRIPT
Financial Report 2005
TBK Co., Ltd.
Year Ended March 31, 2005
1TBK Co., Ltd.
Consolidated Financial HighlightsTokyo Buhin Kogyo Co., Ltd. and Consolidated Subsidiaries
For the years ended March 31, 2005 and 2004
Thousands ofMillions of yen U.S. dollars (Note)
2005 2004 2005
For the years ended March 31,
Net Sales ............................................................................................... ¥ 35,350 ¥32,606 $329,175
Operating Income................................................................................. 3,178 3,036 29,602
Net Income ........................................................................................... 3,910 1,527 36,418
As of March 31,
Shareholders' Equity ............................................................................. 11,570 7,750 107,746
Total Assets ............................................................................................ 43,149 41,739 401,802
Per share data: (Yen or U.S. dollars)
Net Income ........................................................................................... 134.33 53.12 1.251
Shareholders' Equity ............................................................................. 402.71 269.57 3.750
Cash Dividends (Non-Consolidated) ................................................. 10.00 0.00 0.093
Key ratios (%):
Shareholders' Equity to Total Assets .................................................... 26.8 18.6
Net Income to Shareholders' Equity .................................................... 40.5 22.0
Note: U.S. dollars amounts are translated, for convenience only, at U.S.$1=¥107.39, the rate prevailing on March 31, 2005.
2001 ’02 ’03 ’04 ’05
Consolidated Net Sales(¥ millions)
2001 ’02 ’03 ’04 ’05
Operating Income (Loss)(¥ millions)
2001 ’02 ’03 ’04 ’05
Net Income (Loss)(¥ millions)
24,739 24,37526,238
32,607
35,350
(421)
350
(649)
349
1,527
3,910
43
1,650
3,0363,178
Business Climate and Overall TBK Results
Fiscal 2004, ended March 31, 2005, saw export related
industries such as the automobile industry and steel post
favorable results while capital investment was vibrant.
Sales increased dramatically during the previous year
on the back of buoyant demand for consumers replac-
ing vehicles to comply with the introduction of strin-
gent restrictions placed on gas emissions of heavy-duty
vehicles. The year under review saw a leveling-off of that
demand as consumers met compliance obligations. This
led to a total of 99,539 newly registered four-ton trucks,
a 15.0% decrease on the previous year.
Against this backdrop sales and profits were above targets set out in the Company's me-
dium term management plan, the TBK Rising Plan (to be carried out from April 2003 through
March 2006) enabling the Company to reach its targets in the first two years of the plan.
Major management strategies will be implemented as follows:
Current Business Policies
TBK listed in First Section of the Tokyo Stock Exchange
TBK has long been listed on the Second Section of the Tokyo Stock Exchange. However, as of
March 1, 2005 the Company has upgraded to the First Section.
>> Acquiring New Orders
TBK is focusing efforts on increasing orders from domestic truck manufacturers-TBK's histori-
cal customer base. However, since the truck industry can be volatile, with changes in the in-
dustry impacting on TBK's performance, the Company is strengthening marketing of non-
truck components and the year under review saw positive results emerge from these efforts.
2TBK Co., Ltd.
To Our Shareholders and Clients
Yoshio HaraPresident
3TBK Co., Ltd.
>> Ramping Up Overseas Operations
TBK is expanding sales to Japanese and locally owned automobile manufacturers in Thailand
and China. In addition TBK has stepped up marketing its water and oil pumps to European
automobile manufacturers.
TBK's Thailand subsidiary, TBKK (Thailand) Co., Ltd. began receiving orders and making
deliveries for components for Isuzu Motor's new engine. In China, TBK has successfully trans-
ferred its brake lining production line to Full Win Developments Ltd. and the plant has com-
menced operating. These innovations have led to Thailand and China dramatically increasing
profitability.
* Development Teams in Place for New Business
TBK's development teams are developing new brakes and pumps for the latest truck models.
The teams are also active in development and conducting trials for new business from within
Japan and overseas.
* Trial Course Partially Sold
Since usage of TBK's vehicle trial course was low, and in order to effectively utilize the equity
tied up in the idle asset TBK has sold unused parts of the course.
* Uniform labor framework for TBK Group
During the previous TBK merged the personnel and pension systems of its two domestic sub-
sidiaries, binging them in line with the parent company. Labor times and systems were also
made the same.
4TBK Co., Ltd.
Performance and Financial Position
As a result of these factors, TBK achieved an upturn in consolidated net sales of 8.4% from the
same period of the previous year to post ¥35,350 million ($329.2 million). Operating in-
come increased by 4.7% to give ¥3,179 million ($29.6 million). Net income rose by 156.0%
giving ¥3,911 million ($36.4 million). This increase was due to the partial selling of TBK's
trial course and adjustments made for corporate tax.
Performance was robust with year-on-year increased earnings across the board.
Group sales are broken down to the two main segments of vehicle component manufac-
turing and the real estate lending business. Vehicle component manufacturing comprised
98.4% (¥34,911 million) of sales while the real estate business generated 1.5% of sales (¥538
million) by utilizing former plant premises as a shopping center.
>> Vehicle Component Manufacturing Business
During the previous year the brake business experienced a dramatic increase in domestic sales
due to consumers replacing vehicles to comply with the exhaust gas emission restrictions. The
year under review, however, saw a slackening of this surge in demand causing the brake busi-
ness posted sales 3.2% lower than last year. Sales for the pump business increased 14.8% on
the back of a buoyant Southeast Asian market. The Company's medium term business plan
highlights the need to diversify in order to retain a stable financial base in a market that is
slowly shaking off its reliance on Japanese automobile business. In line with this, TBK made
headway in expanding its product line-up for construction machinery.
As a result, sales to this sector increased 8.6% to post ¥34,811 million ($324.2 million).
Although raw material prices rose, especially steel — an essential material for TBK — the
Company was successful in increasing new overseas orders to achieve strong earnings for its
overseas businesses. The Company undertook efforts to increase profitability by developing
new products, reducing costs, augmenting overseas branches, improving the efficiency of ex-
isting facilities and providing excellent quality assurance. As a result operating income in-
creased 7.1% to ¥3,906 million ($36.4 million).
5TBK Co., Ltd.
>> Real Estate Lending Business
The environment of the real estate lending business remained mostly unchanged with con-
solidated sales at ¥538 million ($5.0 million) and consolidated operating income at ¥131
million ($1.2 million).
>> Financial Position
Current assets at the end of the year rose 16.6% to ¥15,543 million due to an increase of notes
and accounts receivable and deferred tax assets while cash and deposits decreasing to pay off
interest-bearing debts.
Property, plant and equipment at year end was 2.8% less or ¥27,607 million. A significant
factor was the sale of part of the proving ground causing a ¥566 million decrease. Current
liabilities were down 32.7% to ¥15,007 million. A major contributing factor was the alloca-
tion of funds acquired by long-term borrowing and issuing of corporate bonds in order to
reduce interest payable by repaying short-term borrowing. Non-current liabilities increased
by 41.2% to total ¥11,570 million. This was due to a rising balance of long-term borrowing
and corporate bonds.
Shareholders' equity increased 49.3% to stand at ¥11,570 million due to an increase in
retained earnings from a higher net income.
6TBK Co., Ltd.
>> Cash Flows
Since funds generated by marketing activities of the core business were allocated to investing
and financing activities, cash and cash equivalents at year end were ¥1,486 million less than
the start of the of the year under review totaling ¥1,527 million.
Cash flows from operating activities saw an inflow of ¥3,652 million. This was due to a
large increases of income before income taxes, depreciation, disposal of property, plant and
equipment, notes and accounts payable stand at ¥1,750 million.
Cash flows from investing activities there was an inflow of ¥1,070 million more than the
previous year. A major factor was an outflow due to capital investment by the core business.
Net cash used in financing activities lead to inflow on last year to stand at ¥4,071 million
at year end.
A contributing factor was the allocation of cash gained by issuing corporate bonds and
long-term borrowing to repayment of short-term debt.
The following financial indicators can be drawn as a result of the above.
2001 2002 2003 2004 2005
Shareholders' equity ratio (%) ..................... 13.3 12.8 15.9 18.6 26.8
Shareholders' equity ratio on a
market value basis (%) ............................. 6.9 3.1 6.0 17.4 36.6
Years to maturity (years) .............................. 6.3 7.3 6.8 5.0 3.5
Interest coverage ratio (times) ..................... 6.6 6.4 5.3 6.9 10.3
Notes:* Shareholders' equity ratio: Shareholders' equity / Total assets* Shareholders' equity ratio on a market value basis: Total market value of shares / Total assets* Years to maturity: Interest-bearing debt / Cash flow from operating activities* Interest coverage ratio: Cash flow from operating activities / Interest expenses
>> Capital Investment and Fund Procurement
Capital investment for the year under review was ¥1,590 million, which has been allocated to
owned funds.
7TBK Co., Ltd.
>> Outlook for Fiscal 2005
The outlook for fiscal 2005 will see robust demand for trucks from Japan and overseas. Gains
from this market will be offset to some extent by rising raw material costs. In accordance with
the TBK Rising Plan the Company will focus efforts on acquiring domestic orders for new
products and use this as a springboard to expand the business into overseas markets. With
this background TBK forecasts the following results.
Consolidated net sales: ¥37,000 million
Net Income: ¥1,600 million
Medium Term Management Strategy
TBK has set in motion its ninth medium term management plan, the TBK Rising Plan, to
unfold over the three years from fiscal 2003 through 2005. The fundamental concept of the
plan is to create a stable and highly profitable corporate group by strengthening product
competitiveness in order to bolster the Company's financial position and improve its profit
structure.
To this end, the following strategies are being carried out
1. For the domestic market, strengthen new orders for products in new fields
2. Ramp up the speed of expanding the overseas business
3. Increase retained earnings to become a company that pays consistent dividends
4. Lower the ratio of interest-bearing debt to less than 30% of net sales
The entire Group will endeavor to accomplish these tasks it has set itself.
Corporate Governance and Compliance Policy
TBK Group adopts a managerial system consisting of a board of directors and a board of
corporate auditors. In an effort to speed up managerial decisions, TBK is undertaking the
smooth execution of managerial policies and ensuring transparency in order to put in place a
framework of checks and balances and eliminate behavior contrary to social norms.
TBK is actively endorsing a proactive board of directors and board of corporate auditors
and strengthening the functionality of managing director and executive board meetings to
enhance corporate governance.
The TBK Group produces and markets brakes essential to the safety of trucks and buses, as
well as construction machinery. Other components are engine components such as water and
oil pumps, and other engine components which have a vital impact on engine performance.
TBK components boast an overwhelming market share for medium- and heavy-duty vehicle
manufacturers in Japan. The Company is expanding operations domestically and overseas in
efforts to enhance its production and supply systems.
Major Products for the TBK Group
Drum BrakesIn trucks, buses and construction machinery an ab-
solutely reliable brake system is required to ensure
safety. Almost all medium and large vehicle manu-
facturers in Japan employ TBK's drum brakes. TBK
products have a leading market share indicating their
excellence in quality and reliability. Another signifi-
cant factor is the resounding approval manufactur-
ers have given TBK's development policy. Specifically,
manufacturers appreciate TBK's standardization ef-
forts to make components more compatible, lead-
ing to lower costs while retaining an excellent level
of quality.
TBK specializes in brake and pump manufactur-
ing for medium and large vehicles. The Company is
also expanding its line to include products for small
vehicle manufacturers. TBK is a company that has
successfully developed unique technologies. The TBK
Auto Adjuster is one such example. Used in drum
brakes, the Auto Adjuster automatically regulates the
space between the brake lining and brake shoe.
Through such efforts TBK is consistently developing
high performance products with an excellent level of
safety.
Disc BrakesIn addition to safety, recently medium and large ve-
hicles require a better brake feeling, especially for
tourist coaches and long-haul trucks. TBK's disc
brakes for medium and large vehicles are highly val-
ued for their rock-solid liability, superior heat dissi-
pation properties and advanced brake feeling.
Air brake for heavy-duty vehicles
Disc brake for heavy-duty vehicles
8TBK Co., Ltd.
BRAKES
RetardersIn addition to the conventional foot brakes, side
brake, and engine brakes there is a fourth type of
brake known as a retarder. Retarders utilize a non-
contact system making them exempt from wear and
tear. Upon installation, retarders almost never need
to be replaced making them excellent for auxiliary
braking applications. Retarders operate by exerting
magnetic resistance on the propeller shaft, which
transfers engine rotation to turn a vehicle's wheels.
TBK recognized the market potential for manufac-
turing components essential to the safety of vehicles
and began independent development from the 1960s
leading to the Company's products being installed
in buses and trucks. Utilizing the retarder system, TBK
saw an excellent method to avoid wear and tear-in-
escapable in conventional drum and disk brakes.
Water Pumps for Vehicle EnginesWater pumps, used to cool engines, are essential for
engine performance. It is a difficult process to en-
sure the engine is performing at optimal capacity by
not allowing it to become too hot or cold. Water
pumps are vital for keeping engine temperature at
the most suitable level. TBK has developed superior
performing water pumps by closely collaborating
with vehicle and engine manufacturers during the
development stages. TBK's water pumps are used in
small to large vehicles and construction machinery.
Oil Pumps for Vehicle EnginesOil pumps are another type of pump that is abso-
lutely necessary for engine performance. Oil pumps
ensure engines rotate smoothly and minimize the
burden on the engine. In its capacity of a specialist
manufacturer, TBK has developed several technolo-
gies in this field. A technology developed by TBK,
which has seen wide-ranging customer support, is
seen in the Company's power-saving oil pumps.
These pumps have an adjustable output which en-
sures appropriate oil flow volume at the right time
with minimum energy consumption.
Retarder for medium- to heavy-duty vehicles
Water pumps for heavy-duty vehicles
Oil pumps for heavy-duty vehicles
9TBK Co., Ltd.
ENGINE COMPONENTS
Pumps for Construction Machine Engines
Water pumps for cooling engines and lubricating oil
pumps are vital for obtaining optimal performances
from construction machines that use engines as their
power source. Applying the highly reliable technolo-
gies we have accumulated over the years to the de-
velopment and manufacture of pumps for vehicle
engines, we now make and supply products for en-
gines used in a variety of other equipment.
Other Engine Components
Over the years, TBK has built up a high level of tech-
nological expertise and reliability in manufacturing
various kinds of pumps and brake systems for both
vehicle and engine manufacturers. We are applying
these strengths to expand our product lineup, which
now includes engine camshafts, turbocharger bear-
ing housings, cylinder heads, and cylinder blocks.
10TBK Co., Ltd.
Thousands ofMillions of yen U.S. dollars (Note)
ASSETS 2005 2004 2005
Current Assets:Cash on hand and at bank ............................................................. ¥ 1,527 ¥ 3,014 $ 14,227Notes and accounts receivable ....................................................... 9,478 7,504 88,267Inventories ....................................................................................... 2,813 2,635 26,199Deferred tax assets ........................................................................... 731 1 6,810Other ............................................................................................... 1,027 204 9,567Reserve for possible loan losses ...................................................... (36) (29) (340)
Total current assets ............................................................... 15,542 13,330 144,730
Property, Plant and Equipment:Tangible Assets:
Buildings and structures ............................................................ 10,702 11,753 99,656Machinery and equipment ........................................................ 4,873 4,965 45,386Land ............................................................................................ 9,545 9,609 88,889Other .......................................................................................... 1,620 1,346 15,090
Intangible Assets .............................................................................. 19 37 183Investment and Other Assets:
Investment securities ................................................................. 712 581 6,639Long-term lendings .................................................................... 0 4 3Others ......................................................................................... 132 110 1,226
Total property, plant and equipment .................................. 27,607 28,409 257,072
Total Assets ........................................................................... ¥43,149 ¥41,739 $401,802
Note: U.S. dollar amounts represent translations from yen, for convenience only, at the rate of ¥107.39 = U.S.$1 in effect onMarch 31, 2005.
Consolidated Balance SheetsTokyo Buhin Kogyo Co., Ltd. and Consolidated SubsidiariesAs of March 31, 2005 and 2004
11TBK Co., Ltd.
Thousands ofMillions of yen U.S. dollars (Note)
LIABILITIES, MINORITY INTERESTS, AND SHAREHOLDERS’ EQUITY 2005 2004 2005
Current Liabilities:Notes and accounts payable ........................................................... ¥ 6,571 ¥ 5,591 $ 61,197Short-term debt ............................................................................... 4,779 13,604 44,509Corporate bond due within one year ............................................. 940 — 8,753Accrued income taxes ...................................................................... 181 95 1,694Accrued bonuses .............................................................................. 596 460 5,554Notes payable-equipment ............................................................... 211 1,077 1,969Other ............................................................................................... 1,726 1,458 16,074
Total current liabilities ......................................................... 15,007 22,285 139,751
Non-Current Liabilities:Corporate bond ............................................................................... 3,360 — 31,288Long-term debt ................................................................................ 3,761 3,026 35,026Deffered tax liabilities ..................................................................... 3,560 3,202 33,156Accrued pension and severance costs ............................................. 1,821 1,575 16,963Accrued retirement benefits to directors ........................................ 116 103 1,085Long-term prepayment ................................................................... 650 677 6,059Security deposits payable ................................................................ 3,138 3,035 28,646
Total non-current liabilities ................................................. 16,409 11,621 152,799
Total liabilities ...................................................................... 31,416 33,906 292,550
Minority Interests in Consolidated Subsidiaries ............................. 161 82 1,505
Shareholders’ Equity:Common stock ................................................................................ 4,367 4,367 40,686Capital surplus ................................................................................ 4,654 4,654 43,340Retained earnings ............................................................................ 2,435 (1,294) 22,691Less:
Net unrealized gain on re-valuation of other securities, land, net of taxes ..................................... 121 25 1,135Treasury stock, at cost ................................................................ (8) (2) (81)
Total shareholders’ equity .................................................... 11,570 7,750 107,746
Total liabilities and shareholders’ equity ............................ ¥43,149 ¥41,739 $401,802
12TBK Co., Ltd.
Thousands ofMillions of yen U.S. dollars (Note)
2005 2004 2005
Net sales ............................................................................................... ¥35,350 ¥32,606 $329,175
Cost of sales ......................................................................................... 29,378 27,005 273,568
Gross profit ...................................................................................... 3,8845,971 5,600 55,007
Selling, general and administrative expenses .................................. 2,792 2,564 26,004
Operating income ........................................................................... 3,178 3,036 29,602
Other income (expenses):Interest and dividend income ........................................................ 2 9 20Interest expenses .............................................................................. (427) (494) (3,985)Bond issue cost ................................................................................ (89) — (836)Foreign exchange income (loss) ..................................................... 20 (67) 187Loss on sale of shares subsidiary and affiliates ............................. — (84) —Reserve for retirement benefit ......................................................... — (447) —Disposal / loss on sale of property, plant and equipment, net ............................................................. 875 (104) 8,152Loss on sales of investment securities, net ..................................... — (39) —Revaluation loss of investment securities ...................................... (63) (36) (593)Others, net ....................................................................................... (38) (22) (354)
Total ............................................................................................ 355 (1,287) 3,305
Income before income taxes and minority interests ....................... 3,533 1,749 32,907
Income taxes:Current ............................................................................................. 155 94 1,450Deferred ........................................................................................... (614) 92 (5,722)
Minority interests ................................................................................ 81 35 761
Net income ........................................................................................... ¥ 3,910 ¥ 1,527 $ 36,418
Consolidated Statements of IncomeTokyo Buhin Kogyo Co., Ltd. and Consolidated SubsidiariesFor the years ended March 31, 2005 and 2004
13TBK Co., Ltd.
Thousands ofMillions of yen U.S. dollars (Note)
2005 2004 2005Cash flows from operating activities:
Income before income taxes ....................................................................¥ 3,534 ¥ 1,750 $ 32,907Adjustment —
Depreciation ......................................................................................... 1,919 1,901 17,873Amortization of goodwill .................................................................... 0 4 2Devaluation of marketable securities and investments in securities ... 63 36 602Increase in allowance for employee bonuses ..................................... 135 107 1,264Increase in allowance for severance indemnities, less payments ........... 246 47 2,291Increase (Decrease) increase in allowance for board of directors retirement bonuses ............................................................ 12 (30) 119Interest and dividend income ............................................................. (2) (10) (20)Interest expenses .................................................................................. 427 494 3,985Bond issuing cost ................................................................................. 89 — 836Equity in loss of affiliates .................................................................... — 84Loss on sales of investment securities ................................................. — 39Income from disposal of property, plant and equipment ................. (875) 105 (8,152)Gain from changes of equity method of affiliates ............................. — (37)Changes in assets and liabilities:
(Increase) in receivables .................................................................. (1,959) (1,462) (18,249)(Increase) in inventories ................................................................. (174) (394) (1,620)Increase in notes and accounts payable ......................................... 949 952 8,842Others, net ....................................................................................... (217) 320 (2,023)
Sub-total ...................................................................................... 4,150 3,908 38,648Interest and dividend received ............................................................ 2 10 20Interest paid ......................................................................................... (355) (492) (3,314)Income tax paid ................................................................................... (144) (8) (1,342)
Net cash provided by operating activiteis .................................. 3,652 3,418 34,013
Cash flows from investing activities:Proceed from refunding of time deposits ............................................... — 50 —Payment for purchases of property, plant and equipment .................... (1,875) (1,623) (17,468)Proceed from sales of property, plant and equipment ........................... 771 11 7,185Payment for purchases of intangible assets ............................................ (1) (2) (18)Payment for perchase of investments in securities ................................. (45) (22) (421)Proceed from sales of investment securities ........................................... — 44 —Proceed from collection of security deposit receivable .......................... 50 — 466Payment for additional common stock in subsidiaries ......................... — (88) —Increase of loans ....................................................................................... (0) (6) (6)Decrease of loans...................................................................................... 24 24 227Others, net ................................................................................................ 6 (1) 64
Net cash used in investing activiteis ........................................... (1,070) (1,612) (9,972)
Cash flows from financing activities:Increase (decrease) in short-term loans, net ........................................... (8,703) 687 (81,041)Proceed from corporate bonds ................................................................ 4,610 0 43,742Proceed from long-trem loans ................................................................. 2,809 1,229 26,163Repayment of long-term loans ................................................................ (2,204) (2,554) (20,527)Others, net ................................................................................................ (583) 409 (5,428)
Net cash used in financing activiteis .......................................... (4,071) (228) (37,910)
Effect of exchange rate changes on cash and cash equivalents .............. 2 (14) 24Net (decrease) increase in cash and cash equivalents ............................ (1,486) 1,563 (13,846)Cash and cash equivalents at beginning of the year ............................... 3,014 1,451 28,072Cash and cash equivalents at end of year .................................................¥ 1,527 ¥ 3,014 $ 14,227
Consolidated Statements of Cash FlowsTokyo Buhin Kogyo Co., Ltd. and Consolidated SubsidiariesFor the years ended March 31, 2005 and 2004
14TBK Co., Ltd.
Japanese truck manufacturers are globalizing their production and marketing networks in
efforts to cut costs and bring products closer to market. TBK intends to extend the overwhelm-
ing support the company has received from existing customers in Japan by expanding its own
production and marketing networks internationally.
TBK is improving its domestic production systems with the aim of steadily expanding
operations overseas. The Company operates pump production centers in Thailand, India and
Spain with other production centers for brakes in China. These production centers are gearing
up to supply vehicle manufacturers in Asia, North America and Europe.
Global Production and Marketing Networks
15TBK Co., Ltd.
TBKK (Thailand) Co., Ltd.
GSB-TBK Automotive Components, S.L.(Spain)
Head Office andDomestic Network
TBK America, Inc.(U.S.A.)
TBK India Private Limited(India)
Full Win Developments LimitedTBK Automotive Parts Co., Ltd.(China)
Head Office andTBK Sales Co., Ltd.
Tokachi Proving Gound
TBR Co., Ltd.
Fukushima PlantKagami-Ishi Plant Tokyo Seiko Co., Ltd.
Fukushima Plant
Major Products: Drum brakes, disc brakes, retarders
Kagami-Ishi Plant
Major products: Camshufts and other engine components
Tokachi Proving GroundManagement and maintenance of test track, brake and pumps performance testing
Tokyo Seiko Co., Ltd.
Major Products: Water pumps
TBR Co., Ltd.
Major Products: Oil pumps, brake shoes, castings and aluminum die casting
TBK Sales Co., Ltd.
Business: Sales and services of parts for vehicles and construction equipments
TBKK (Thailand) Co., Ltd.Major Products: Water pumps, oil pumps, drum brakes, camshafts
Full Win Developments LimitedMajor Products: Lining
TBK Automotive Parts Co., Ltd.Major Products: Linings
Hangzhou TBK-APG Brakes Co., Ltd.Major Products: Brakes
Changchun TBK-Shili Auto Parts Co., Ltd.Major Products: Linings
TBK India Private LimitedMajor Products: Water pumps and oil pumps of vehicles and construction equipment
GSB-TBK Automotive Components, S.L.Major Products: Oil and water pumps for automotives
TBK America, Inc.Major Business: Sales and services of parts for vehicles such as water pumps, oil pumps, drum brakes, and disc brakes
Changchun TBK-Shili Auto Parts Co., Ltd. (China)
Hangzhou TBK-APG Brake Co., Ltd. (China)
TBK Co., Ltd.4-21-1, Minami Naruse, Machida, Tokyo 194-0045, JapanTel: 81-42-739-1471 Fax: 81-42-739-1477Capital: ¥4,367 ($41,322 thousands)URL: http://www.tbk-jp.com/mail: fqa/[email protected]
Fukushima Plant304-7, Miyanomae, Kawanobe, Tamagawa-mura, Ishikawa-gun, Fukushima 963-6313, Japan
Kagami-Ishi Plant113, Sakai, Kagami-Ishi Cho, Iwase-Gun, Fukushima 969-0401, Japan
Tokachi Proving GroundIwanai-cho, Nishi 3 Sen, Obihiro, Hokkaido 080-2123, Japan
Subsidiaries:Tokyo Seiko Co., Ltd.393, Miyanomae, Kawanobe, Tamagawa-mura, Ishikawa-gun, Fukushima 963-6313, JapanTBR Co., Ltd.1-11-16, Takarada, Tsuruoka, Yamagata 997-0011, JapanTBK Sales Co., Ltd.4-21-1, Minami Naruse, Machida, Tokyo 194-0045, Japan
Overseas Group Companies:TBKK (Thailand) Co., Ltd.700/34 MOO 6T Nhongmaidaeng A Muang, Cholburi 20000, Thailand
Full Win Developments Limited7A Wing Hong Center, 18 Wing Hong St., Cheung Sha Wan, Kowloon, Hong Kong, China
TBK Automotive Parts Co., Ltd.No. 3 Industrial Zone, Jiangbei Village, Wusha, Chang'an Town, Dongguan, Guangdong, China
Hangzhou TBK-APG Brakes Co., Ltd.Shiyan, District Xiaoshan, Hangzhou, Zhejiang Province 311203, China
Changchun TBK-Shili Auto Parts Co., Ltd.Changchun National High-Tech Industries Development Area, Changchun City, Jilin Province,China
TBK India Private LimitedS-114, M.I.D.C., Bhosari, Pune 411 026, India
GSB-TBK Automotive Components, S.L.Vilanova I la Geltru (Barcelona), in Catalonia, Spain
TBK America, Inc.6214 Morenci Trail, Suite 230 Indianapolis IN 46268, U.S.A.
16TBK Co., Ltd.
Corporate Information