Expansion of the Automotive-Related Business in India and Other Markets

「Impairment losses for the consolidated fiscal year primarily arose from reducing to their recoverable amounts the carrying amounts of assets held in India by the Global Parts and Logistics Division and the Metals Division, because the earnings initially anticipated from those assets could no longer be expected.」

「In March 2019, the Group acquired a partial interest in 富田（フクタ）電機有限公司, a Taiwanese manufacturer of automotive motors, with the aim of newly entering the business of manufacturing in-vehicle motors for electric vehicles.」

「An additional plant of TT Recycling Management India Private Ltd., which recycles metal scrap generated at the plant, commenced operations in December 2017.」

「Following the commencement of operations at an additional plant of TT Steel Service India Private Ltd., a company that imports, stores and processes steel sheets, TT Recycling Management India Private Ltd., a company that recycles metal scrap generated at the plant, is scheduled to begin operations within the year.」

「In the automotive steel sector, the Group constructed an additional plant in India for TT Steel Service India Private Ltd., a company that imports, stores and processes steel sheets, and commenced operations in May 2017. In the non-ferrous metals sector, TOYOTSU SMELTING TECHNOLOGY MEXICO, S.A. DE C.V. commenced commercial production of molten aluminum for automotive die-cast parts in Mexico, with the aim of ensuring stable production and supply.」

「In the automotive steel sector, the Group began construction in India of an additional plant for TT Steel Service India Private Ltd., a company that imports, stores and processes steel sheets, with operations scheduled to begin in May 2017. In the non-ferrous metals sector, TOYOTSU SMELTING TECHNOLOGY MEXICO, S.A. DE C.V. began commercial production of molten aluminum for automotive die-cast parts in Mexico, with the aim of ensuring stable production and supply.」

「In the automotive steel sector, the Group began construction in India of an additional plant for TT Steel Service India Private Ltd., a company that imports, stores and processes steel sheets, with operations targeted to begin in May 2017. In the non-ferrous metals sector, TOYOTSU SMELTING TECHNOLOGY MEXICO, S.A. DE C.V. began commercial production of molten aluminum for automotive die-cast parts in Mexico, where automotive-related business continues to expand.」

「In the automotive steel sector, the Group acquired shares in and made Mirra & Mirra Industries Private Limited a subsidiary in order to fully enter the secondary processing of special steel in India, where market expansion is expected, and began producing special steel for automobiles.」