Aisin Reports Rapid Growth in North America in 2002

Company expects to exceed sales objectives over next two years

DETROIT, March 4 -- Aisin World Corp. of America (AWA) today announced that its consolidated North American sales in 2002 exceeded $1.1 billion. Further, AWA President Junichi Nishimura said the company is projecting to double its sales to $2.2 billion by 2005 given current market conditions.

Based in Plymouth, Mich., AWA is comprised of 22 manufacturing, R & D and sales centers in North America. The company produces drivetrain systems, body components, and brake, chassis and electronic components. It is a subsidiary of the Aisin Group, an $11.4 billion company led by Aisin Seiki Co., Ltd., and headquartered in Kariya City, Aichi, Japan. The Aisin Group is one of the world's leading Tier One automotive parts manufacturers supplying body parts, drivetrain components, engine-related parts, brake and chassis parts and information-related products to automobile manufacturers around the world. The group employs more than 41,000 people worldwide.

Nishimura says there is a correlation between AWA's rapid growth and that of its largest customer, Toyota, which, in recent years, has expanded its North American production significantly.

"We should also note, however, that our business with traditional Big Three manufacturers is also expanding," says Nishimura. "More than ever, we are now supplying sunroofs for General Motors, transmissions for General Motors and DaimlerChrysler, and a patented, hybrid drivetrain system developed for Ford Motor Company."

Nishimura stated that while currently 75 percent of AWA sales in North America are from Toyota, its business should be more evenly split by 2005 as Big Three orders continue to increase dramatically.

To support this business expansion, AWA in 2002 established several new facilities:

1. Aisin Manufacturing - Illinois

Last August, Aisin Manufacturing - Illinois began production of sunroofs and other vehicle body components in Marion, Ill.

2. Aisin Canada, Inc.

Last October, Aisin's first Canadian facility was established in Woodstock, Ontario. Aisin Canada, Inc. will begin production of vehicle body components this August.

3. Aisin Brake & Chassis, Inc.

Last November, Aisin Brake & Chassis began production of brake components at its Terre Haute, Ind. Plant.

4. New North American Headquarters

As its business expanded in 2002 and it anticipated future growth, AWA moved to larger headquarters in Plymouth, Michigan, last August, while strengthening significantly its sales and research & development capabilities in North America. Today, AWA employs more than 4,400 associates in North America.

"Looking ahead to 2004, we will expand the aluminum and diecasting capacity at Aisin Automotive Casting in London, Kentucky, by 50 percent. Later that year and for the first time, we will begin production of the complete automatic FR 5-speed transmission, with an anticipated volume of 200,000 units at our Durham facility, AW North Carolina."