Annual 14

Annual Report 2014
Contents
01
02
04
06
12
13
14
About Daihatsu
Business Overview
Close-Up I Daihatsus Advantage
Close-UpII Strengthening our Business Base
Consigned Production and OEM Business
Production and Sales Data
Corporate Governance /
Corporate Social Responsibility
16 Consolidated Financial Information
46 Corporate Data
Click each title to go to that page.
Disclaimer
This annual repor t contains forward-looking statements regarding future
plans, strategies, and operating per formance forecasts and estimates
for Daihatsu and its subsidiaries and af filiated companies. Statements
that are not historical facts are expectations derived from managements
assumptions and opinions based on its judgment of information available as
of the date of this repor t. Such statements contain risks and uncer tainties
that include but are not limited to economic fluctuations, severe competition
in automobile markets, market demand, exchange rates, taxation systems
and changes in various other systems. Consequently, the reader should
understand that actual per formance may dif fer from forecast results.
About Daihatsu
01
Daihatsu Motor Co., Ltd. (hereafter, the Company) was established in 1907 through a consortium of industry and academia to
develop a domestically manufactured internal combustion engine. Since then, the Company has considered that its mission is to
make compact cars that appeal to consumers all over the world and it has thus developed its business. In 1998, Toyota Motor
Corporation (hereafter, Toyota) acquired a majority of Daihatsu stock and became our parent company. Today, as a member of
the Toyota Group, Daihatsu makes fuel efficient, affordable cars and value-added cars in its three business division domestic
business, overseas business, and consigned production and OEM business.
Sales Breakdown (fiscal year ended March 31, 2014)
Strengths of Daihatsu
Consigned Production and OEM
30%
As a member of the Toyota

Group, we are engaged
in consigned production,
joint development and OEM
supply (products under
a customer companys
brand).
Overseas Business
20%
This business is responsible

for localized production and
marketing in Indonesia and
Malaysia and is working to build
a stronger business foundation.
Mini Vehicle Sales Share

in Japan
Production Share
in the Indonesian Market
Sales Share
in Malaysia
Eight Consecutive Years
Year ended March 31, 2014
Eight Consecutive Years
(Years ended March 31, 2007 2014)
*Daihatsu research
Domestic Business
Sales
1,913.2
billion
50%
This business chiefly

handles development,
manufacture and
marketing of compact
cars, among which mini
vehicles are our mainstay
product.
(2006 2013*)
30.9
43.6
In the year ended March 31, 2014

(April 1, 2013 to March 31, 2014), mini
vehicles accounted for about 40% of
the Japanese automotive market. In
the mini vehicle market, we have had
the top share for eight consecutive
years. A major reason for this is our
proprietary e:S Technology, which
enables low fuel consumption at an
affordable price.
Including consigned production,

Daihatsus Indonesian plants
produced 550,000 units, making
us the automaker with the highest
production share. At our plant that
began operation in October 2012,
we established an R&D center for the
purpose of local development that is
equipped with Indonesias first test
course.
29.9
%
Perodua Manufacturing Sdn. Bhd., a

joint venture between the Malaysian
government and Daihatsu that produces
the Perodua national car is growing
steadily and has achieved the top market
share in Malaysia for eight consecutive
years. To strengthen international
competitiveness, we continue to reinforce
the companys structure and reduce costs.
*Peroduas fiscal year: January December
Business Overview
02
Making Cars with the Goal

of Becoming the Leading
Compact Car Company
Chairman
President
Koichi Ina
Masanori Mitsui
August 2014
Initiatives in the Fiscal Year Ended March 31, 2014 (April 1, 2013 March 31, 2014)
Sales and
Profits Up
(New record highs)
Net sales
Operating
income
Record high for second

consecutive year
Record high for fourth
consecutive year
In the year under review (ended March 31, 2014), in the mini vehicles
market in Japan, even though the sales environment was harsh
with each company rolling out new products, new record highs
were achieved due to the industrys revitalization and last-minute
demand before the consumption tax increase. Following the fuelefficient and affordable Mira e:S, the Company announced the Move,
which focuses on core and advanced performance at low cost. The
Companys domestic sales during the year were, just like the market,
record breaking. We also maintained our top market share thanks to
the successful model change of the Tanto, a car that provides added
value tailored to vehicle characteristics.
The Indonesian automotive market, a major business for the
Company, continues to grow in step with the countrys economic
growth. In the fiscal year ended March 31, 2014, although the rupiah,
the local currency, continued to depreciate, the market recorded

record-breaking demand. Sales of PT Astra Daihatsu Motor (hereafter,
ADM), a consolidated subsidiary, was strong to record historical high
buoyed by the newly launched compact car Ayla.
Amid intensifying competition as global automakers begin
stepping up their market efforts, ADM has fought to survive, increased
its production capacity, reinforced the production system of its
engine factory, and expanded collaboration with the Toyota Group
by exporting Toyotas consigned production model with the goal of
creating a strong automotive market,
In Malaysia, another of our overseas markets, a mature
automotive market that differs from Indonesia is taking shape. Perodua
Manufacturing Sdn. Bhd. (hereafter, Perodua), a consolidated
subsidiary of Daihatsu, has been conducting business and has
attained the highest market share in a market where sales have been
strong. Taking into account the future liberalization of the Malaysian
market, Perodua is focusing on the reinforcement of its management
structure and cost reduction. In the fiscal year ending March 31, 2015,
a new factory will begin operation and new car models are scheduled
for production.
In this way, Daihatsu is developing resource-focused
businesses in the three countries of Japan, Indonesia and Malaysia.
In order to deliver appealing products to customers in each country,
we established the Kurume Development Center in the year ended
March 31, 2014 and are working on the development of auto-making
technology, the basis for such products.
2013
The diverse mini vehicle

(Added value)
2012
2011
The essential
mini vehicle
Mira e:S
Fuel efficient/
Low cost
The standard
mini vehicle
Move
Tanto
Core performance/
Advanced
performance
The ultimate in free

space
Business Overview
03
Initiatives in the Fiscal Year Ending March 31, 2015 (April 1, 2014 March 31, 2015)
Building a solid foundation for business in Japan, Indonesia and Malaysia

The market for mini vehicles in Japan in the fiscal year ending March
31, 2015 is expected to decline from the previous years recordbreaking performance amid consumer reaction to the consumption
tax increase and last-minute demand prior to the tax hike on mini
vehicles. Despite these conditions, Daihatsu raised its mini vehicle
sales target to 660,000 units due to the launch of six new models. In
June, the Company announced the Copen mini convertible sports
vehicle and began innovating new sales and services.
The Indonesian market, which had record-breaking sales in
the previous fiscal year, although beset with economic uncertainty
including the ongoing depreciation of the rupiah, competition is
heating up due to the sales of competing models of other automakers,

and is thus a difficult market. ADM is conducting sales centered
on Ayla, a compact passenger car, and is increasing the local
procurement of parts, further lowering the cost of production, and
reducing costs. It is moving ahead with the expansion of its engine
production line capacity, which is scheduled to begin operation in
2015. In June, ADM announced that it was increasing the markets to
which it exports Toyota branded consigned production cars.
Although the Malaysian market appears to be strong, we must
keep a close watch on the trend toward membership in the TransPacific Partnership (TPP). If Malaysia joins the TPP, the competitive
environment will further intensify with the liberalization of the

automotive market. Perodua thus began operating a new plant in mid2014 and is enhancing its ability to compete in overseas markets.
It is building a solid foundation by continuing its past structural
improvement efforts, such as the improvement of existing plants
and construction of a new engine production plant, along with cost
reduction activities.
Medium- to Long-Term Approach
Expansion of business domain with compact car production

Daihatsus vision is to become the company that is closest to
customers not only as Japans leading mini vehicle maker, but as
the worlds leading compact carmaker. As Japan is now in an era
selected by customers, a business model that swiftly accommodates
customer preferences is needed.
Daihatsu, perceiving Japan, Indonesia, and Malaysia as a solid
business base, has taken steps to construct such a business model.
The Company will accelerate product and technological development
and strengthen its global competitiveness while promoting the
production of compact cars, primarily mini vehicles, in Japan and
overseas, thereby expanding its business domain.
Working hard
to get closer
to customers
Accelerating
product and
technological
development
Strengthening
global
competitiveness
Accelerate and achieve domestic and overseas initiatives

Shift resources to focal themes and treat them as top priority
Please see Close-Up and

on the next page for details.
Close-Up Daihatsus Advantage
04
Production Innovation
Mira e:S Released
Reducing costs through production system innovation under the

concept of Simple, Slim and Compact (SSC). Toward resources for new
product and technological development
In 2011, the fuel-efficient, low-cost Mira e:S the essential mini vehicle
was released.
Oita (Nakatsu) Plant No. 2 of Daihatsu Motor

Kyushu Co., Ltd. began operating in 2007 and is
the first plant in Japan to specialize in mini vehicle
production that completely simplifies facilities and
consolidates work based on the SSC concept.
While its production capacity is equal to that
of the No. 1 Plant, it occupies nearly half of the
building space and cost about 40% less. In 2008,
we started up an engine plant exclusively for
mini vehicles in Kurume City, Fukuoka Prefecture
and consolidated our production base. By
Returning to the original idea of a mini vehicle

as an everyday car, we tackled the proposition
of creating a fuel efficient, low-cost car the
essence of a mini vehicle that is gasolinepowered. The result was the Mira e:S, a mini
passenger car released in 2011, with both a low
fuel consumption of 30km per liter (in JC08 mode)
and a low price tag of 795,000. We changed
every facet of existing technology that is not
dependent on hybrid car or electric car systems,
and came up with our proprietary e:S Technology
consolidating the production base, we achieved a

highly efficient domestic production system with
lower transportation costs and time. The new
production method also saved space and reduced
our environmental impact. These production
innovations have been deployed in each of our
plants in Japan, Indonesia, and Malaysia and the
cost savings are being used in the development of
new products and technologies, which has led to
more appealing products and environmental and
safety technology improvements.
that brings back the essential character of the mini

vehicle. This low fuel consumption technology is
the basis of our future fuel-efficient and affordable
car production.
Simple, Slim, and Compact Production System
Reduced transportation energy

costs by about 75% by
consolidating production base
Shiga Head (Ikeda) Plant
3 days
Kyoto Plant
Shiga (Ryuo) Plant
by ship from Shiga

Reduced to
150min.
Oita Oita (Nakatsu) Plant
No.1/No. 2
Kurume Kurume engine plant
Comparison of Oita No. 1 and No. 2 plants

Plant No.2
Plant No.1 Reduction
Production capacity 230,000units 230,000units Same
Capital investment 23.5billion 40.0billion 40%(approx)
Building area
50,000m2
110,000m2 50%(approx)
*Production capacity is annual production with two shifts of fixed intervals; figures are estimates.
Overview of Engine Production Plant
Low-fuel Consumption e:S Technology: the Basis of

our Future Car Production
e:S Technology is a fuel consumption technology
that came into existence when it was noted that
70% or more of the energy generated at the
time of gasoline engine combustion is lost. e:S
Technology reduces this energy loss because
it focuses on rigorously fine-tuning existing
onceptual Diagram of
C
e:S Technology
Reduction
40(approx)
60(approx)
50(approx)
20(approx)
Engine that constricts energy loss to

maximum limit through frictional resistance
Power Train
Evolution
Kurume Plant and Shiga No. 1 Plant

Comparison with KF-type Engine Line
Kurume
Shiga
Capital investment
Production capacity (annual) 216,000engines 1.3million engines
Total
Volume
Capital investment
10.0billion
Line length
Building area
13,000m2
317,000m2
Processing /
assembly
* Production capacity is annual production with two shifts of fixed intervals; figures are estimates.
Number of processes
technology in light of modifications made to the

evolution of the power train, car body, and energy
management systems in order to draw out the
maximum potential of gasoline.
Transmission that constricts energy loss to

maximum limit through drive
Uses idling function prior to

stopping
Electrical generation that
constrains energy loss to
maximum limit
Energy
Management
Car Body
Evolution
Body structure that is both light

and manages heat
Aerodynamic technology that
constrains energy loss caused
by air resistance during driving
Close-Up Daihatsus Advantage
05
Progress and Development of e:S Technology that Aims for Fuel Efficiency and Low Cost
Technology, the 2014 Mira e:S has lowest-ever fuel consumption for a
gasoline-powered car at 35.2km/L.
With its steady economic growth, Indonesia needs the spread
of fuel-efficient, low-cost cars throughout the country. In 2013, the
Indonesian government announced the Low Cost Green Car (LCGC)
policy, and so Daihatsu launched the Ayla, a compact car compliant
with that policy, to gain an advantage on rival automakers product
launches. The Ayla is the Indonesian model with a low price tag and
high fuel efficiency that utilizes the same approach as e:S Technology.
Move, which is based on the Mira e:S with its fuel efficiency and
low cost the essential characteristic of a mini vehicle has raised
combustion efficiency and achieved even greater fuel efficiency.
After equipping Move with our collision avoidance support system,
an advanced technology used for the first time in a mini vehicle,
we launched it as the essence of a mini vehicle and set it at an
affordable price. The Tanto, a completely new model, was released
in 2013 as our first shot at making a mini vehicle that incorporates
the latest e:S Technology from stem to stern and adding mini vehicle
diversity as a value. In addition, thanks of the further evolution of e:S
2012
Adoption in Move
Evolution of e:S
Technology
2011
2013
Incorporated in Tanto
Latest Evolution of e:S

Technology
Points (2013/Tanto)
Incorporates all of the latest e:S Technology, giving

it the lowest fuel consumption of mini vehicles
Among the evolution of the power train, the
car body, and energy management of e:S
Technology, the car body has evolved the most.
Combined with dramatically evolved aerodynamic
performance and other factors, it achieves low
fuel consumption of 28km/L (in JC08 mode).
Other
By making the outer panel plastic,
integrated molding for the back door and

rear spoiler takes advantage of greater
molding freedom and reduces weight and
lowers cost
2014
Incorporated in Mira e:S
Further Evolution
Mira e:S has the top fuel
efficiency for a gasolinepowered car at
35.2km/L
The Mir e:S, the

first model to use
e:S Technology
*5
Points (2012/Move)
Development of e:S Technology

Multilayered Fuel Efficiency in a
Gasoline-powered Car
30.0km/L
*1
Focusing on evolution of energy management

For thermal management, use of a Continually
Variable Transmission (CVT) thermo-controller for
the first time in a mini vehicle*2, and improvement of
combustion efficiency through combustion control
using separate cylinders
Evolution of improvements made to the power train

and the car body
Fuel economy reaches 29.0km/L, the top of its

class, up from the previous 27.0km/L*3
Other
First mini vehicle* 2 to be equipped with the

Smart Assist collision avoidance support
system
Superior suspension enables stable, quiet
driving experience
Entry price: 1.07 million
Points (2013/Ayla)
Adheres to more than the Mira e:S a design
2013
First time incorporated
overseas in Indonesian
model Ayla
Developed with same

approach as e:S Technology
quality improvement approach that brings out the

maximum potential of the components and offers
low fuel consumption at a low price
Substantially reduced the number and size of instrument
panel components
Raised local procurement ratio to 85%
Uses newly developed 1000cc engine that thoroughly
reduces energy loss and raises combustion efficiency due
to evolution of power train
Raised fuel economy performance through lighter weight
with streamlined shell body frame
*1 JC08 mode 2WD
*2 As of December 2012/Daihatsu research
*3 As of December 2010/Daihatsu research
*4 As of July 9, 2014
Gasoline-powered cars excluding hybrid vehicles/Daihatsu
research
*5 JC08 mode fuel consumption for 2WD (Test values from
the Ministry of Land, Infrastructure, Transport and Tourism)
Close-Up Strengthening our Domestic Business Base
06
Economic and Market Trends for the fiscal year ended March 31, 2014 (April 1, 2013 to March 31, 2014)
In the fiscal year ended March 31, 2014, the Japanese economy
was on an upswing with the yens depreciation and high stock
prices caused by quantitative monetary easing, the first arrow under
Abenomics of the administration of Prime Minister Abe, and notably
active consumer spending in the first half. Nevertheless, as a result of
the consumption tax law enacted in August 2013, the consumption
tax was raised to 8% in April 2014. The last-minute demand before
the consumption tax increase and consumer reaction to it indicated
concern that the anticipated economic recovery would run out of gas.
In the fiscal 2014 tax amendments, the vehicle excise tax rate was
lowered and eco-car tax cuts were expanded, but the tax on mini
vehicles is to be raised in April 2015.
In this economic environment, due to the release of mini
vehicles with high product appeal by each automaker, as well as lastminute demand caused by the consumption tax increase, we set a
new record of 2,262,000 (up 15% year on year) vehicles sold, despite
an increasingly harsh sales environment in the fiscal year ended March
31, 2014. In recent years, with mini vehicles becoming increasingly
appealing and compact cars getting smaller in size, the marketability
of mini vehicles has become highly regarded, with mini vehicles sales
now accounting for approximately 40% of automobile sales.
Mini Vehicles Units Sold and Share (fiscal year ended March 31, 2014)
Brand
Sales (units)
Share (%)
Daihatsu
698,840
30.9
Suzuki
646,979
28.6
Honda
434,321
19.2
Nissan
225,638
10.0
Mitsubishi
91,341
4.0
Subaru
57,808
2.6
Mazda
63,116
2.8
Toyota
43,648
1.9
Other
143
0.0
Total
2,261,834
100.0
Market/Mini Vehicle Sales (fiscal year ended March 31, 2014)

Automotive market
Mini vehicles
(ten thousand of units)
600
569
500
400
300
226
200
100
Source: Japan Mini Vehicles Association
2009
2010
2011
2012
2013
2014
(Years ended March 31)
Initiatives in the fiscal year ended March 31, 2014

Tanto undergoes full model change by incorporating the latest e:S Technology
The Tanto is a car model that created a new market in 2003 by
establishing the more space market within the mini vehicle market,
with unparalleled space that challenges what was previously thought
normal for a mini vehicle. In October 2013, Daihatsu introduced
a brand new model that incorporates the latest e:S Technology
throughout the entire car. Based on the essential characteristics of
a mini vehicle low fuel consumption and an affordable price that
were developed in the Mira e:S, we perfected our image that aims for
various open spaces in the mini vehicle by increasing the added value
of the car with unparalleled interior space and insisting on total userfriendliness. This is the one and only mini vehicle with the easy-touse miracle open door that we made even more user friendly, and it
is number one*1 in providing a feeling of openness in a mini vehicle, a

point that we took great pains to achieve. Aerodynamic performance
has evolved dramatically with the plastic outer panel and pedestrian
protective performance has improved. Fuel consumption is a low
28.0km/L.
As a result of enhancing the car by incorporating the evolving e:S
Technology in a series of flagship models, Daihatsu sales, especially
of the Tanto, were strong with 699,000 units sold (up 7%), marking the
eighth consecutive year with the number one market share. The Tanto,
recognized for this high product performance, achieved the highest
sales in the entire market consecutively in April and May 2014.
*1 Daihatsu research
Tanto
Tantos History
Market grows as competitors launch new mini vehicles

Space
Establishment of
more space market
Compact car zone
Conventional mini vehicle zone
Vehicle size
Close-Up Strengthening our Domestic Business Base
Initiatives in the fiscal year ending March 31, 2015
07
(April 1, 2014 to March 31, 2015)
Six new models launched

New values achieved with the new Copen
Exciting driving performance

Car that expresses your individuality
Attained with frame

and plastic outer
panel structure
The new Copen

Released June 2014
In the fiscal year ending March 31, 2015, in the Japanese market we
began our initiatives with the goal of attaining sales of 660,000 units
by launching six new models. The first model to be launched was the
brand new Copen mini convertible sports vehicle in June. The Copen
represents our second attempt at embodying the added value of a
mini vehicle. After much thought we came up with the idea of building
a car that offers exciting driving performance and expresses the
drivers individuality.
As a result, we achieved these based on the concept of a
frame with a plastic outer panel structure. The new D-Frame frame
structure ensures the high rigidity with only a frame that is desired
in a sports car. The changeable interior and exterior structure called
DRESS-FORMATION overturns the fixed idea that the design of a
car is difficult to change after purchase and enables the design to
be changed according to the customers preferences even after
purchase.
In July, the Mira e:S was partially upgraded and launched.
e:S Technology has evolved further and achieved even greater fuel
efficiency. With the evolution of the power train, we raised thermal

efficiency by adopting a higher compression ratio, the Atkinson
cycle*1, and dual injectors. With the evolution of energy management,
we increased generated electric power by improving ecological power
generation control and thereby achieved the lowest*2 fuel consumption
of 35.2km/L*3 for a gasoline powered-car.
The Company believes that low fuel consumption and an
affordable price are essential factors required in all mini vehicles and
will aggressively pursue them in the years ahead.
Among the four models scheduled for release, one model is
based on the DECA DECA, which was exhibited as a demonstration
sample at the 2013 Tokyo Motor Show, and it will meet customer
preferences with a full lineup.
*1 Internal combustion engine that increases the expansion ratio more than the compression ratio, and raises
thermal efficiency.
*2 As of July 9, 2014. Gasoline-powered cars excluding hybrid vehicles (Daihatsu research).
*3 JC08 mode fuel consumption for 2WD (Test values from the Ministry of Land, Infrastructure, Transport and
Tourism).
Future Direction
Promote Innovation in both Sales and Development Fields
Even though maintaining high standards, the mini vehicle market is
becoming increasingly harsh due to competition between companies.
As the leading mini vehicle maker, we are enhancing both our product
and sales activities.
There are two points in the area of product appeal. The first
is the focus on low fuel consumption and low price, the essential
elements of a mini vehicle. The power train and platform, which dictate
the core performance of mini vehicles, are becoming increasingly
important as core technologies not only for Japans mini vehicles,
but for products aimed at emerging countries. We are pursuing the
development of these core technologies with Japan as our base,
which will contribute to increasing product appeal in each country.
The second is to address the diversifying needs that
accompany the growth of the mini vehicle market. We will provide
new added value through products that closely match specific needs,
such as helping customers select the Tanto best suited for parenting,
an approach that has met with some success. The Copen mini
convertible sports vehicle, our latest model, and the idiosyncratic
Mira Cocoa for individualistic female customers have been very well
received. We will continue to propose new vehicles that meet the
potential needs of the future.
Turning to sales, we took a new approach starting with the
Copen. Up until now, the main point of contact that mini vehicle car
dealers had with customers had been new car sales and vehicle
safety inspections throughout the country. From this point forward,
we will conduct community-based sales activities and improve
communication with customers while reflecting their feedback in our
business. In the Japanese market where change is rapid, we want to
remain a leading company that senses change before it occurs and
initiates change on its own.
Mira e:S
Copen Local Base Kamakura
Close-Up Strengthening our Indonesian Business Base
08
Economic and Market Trends for the fiscal year ended March 31, 2014 (April 1, 2013 to March 31, 2014)
Indonesian automotive market is growing as its economy grows
The population of Indonesia is 254 million and is increasing yearly
as the economy grows. On the other hand, its economic growth
rate declined from 6.5% in 2011 to 5.8% in 2013. In August 2013,
Indonesias financial market was hit by fears of a contraction of the
United States quantitative easing policy and the local currency hit
a new low for the first time in four years, reaching the same level it
was directly after the economic downturn precipitated by Lehman
Brothers collapse. Therefore, the Indonesian economy is viewed
with uncertainty. However, amid a slowdown in economic growth, the
nominal GDP per capita in 2013 was US$3,500 and generally, when
the nominal GDP surpasses US$3,000, it is considered a time when
people shift to buying four-wheel vehicles, which Indonesia reached in
2011. Automobile demand is a deep-seated trend that is continuing.
(Source: Indonesian government statistics)
A unique characteristic of the market is that the MPV segment,
which is focused on the Daihatsu Xenia and Toyota Avanza, have
formed a volume zone that holds about a 35% share of the total
market. However, with the Indonesian governments enactment of
the Low Cost Green Car (LCGC) policy in 2013, a city car segment is
expected to gain prominence in the future. The Indonesian market, of
which about 90% is made up of Japanese cars, along with its strong
auto demand became more vigorous thanks to the LCGC policy. As
a result of Japanese automakers enhancing their products in each
segment, especially in MPV, and city cars, in the fiscal year ended
March 31, 2014 the market sold a record 1, 241,000 units (up 10%
year on year).
Daihatsus Progress
Market/Daihatsu Sales and Share in Indonesia

(fiscal year ended March 31, 2014)
1968
Started production on Complete Knock Down (CKD) basis
1992
Establishment of the vehicle-manufacturing company

PT Astra Daihatsu Motor (ADM), a joint venture with Astra
International
*Export model in which the components of a vehicle are exported to an overseas

location and then assembled there
Indonesian market
Daihatsu sales
Daihatsu share (right)
(at present, Daihatsu holds a 61.75% stake)
2007
2012
In line with growing demand, construction of second

assembly line, increasing annual production capacity to
200,000 units (under two-shifts of fixed intervals)
New plant comes on-stream with annual production
capacity of 120,000 units, increasing overall annual
production in Indonesia to 430,000 units (under two shifts
of fixed intervals)
124.1
120
90
Announced expansion of passenger car engine production

line (scheduled for operation in summer 2015)
Announced the compact passenger car Ayla, which is
compliant with the LCGC policy
2014
Raised annual production capacity to 530,000 units as a

whole (under two shifts of fixed intervals)
24
18
15.1%
60
12
30
18.8
0
2013
(%)
2009
2010
2011
2012
2013
2014
Initiatives in the fiscal year ended March31, 2014

Announcement of Ayla, the first model compliant with the Indonesian governments LCGC policy
Despite the ongoing depreciation of the rupiah, ADM achieved record
sales of 188,000 units (up 13% year on year) by connecting with the
Indonesian market, which set a new record. Contributing to the record
sales was the Ayla, an LCGC compliant model announced ahead of
competitors in September 2013. The Ayla is based on e:S Technology
developed in Japans Mira e:S and is a fuel efficient and affordable car
that fully incorporates the needs of the Indonesian market under a joint
development system with ADM.
In anticipation of increased production volume, ADM raised its

annual production plant capacity for the Ayla and Xenia in January
2014 from 120,000 units per year (under two shifts of fixed intervals)
to 200,000 units. As a production and export base for the Toyota
Group, we are responsible for OEM supply and consigned production
to Toyota. However, in February, we fulfilled the important role of
beginning exports of the LCGC model AGYA to the Philippines for
OEM supply.
Ayla
Xenia
Close-Up Strengthening our Indonesian Business Base
09
Initiatives in the fiscal year ending March 31, 2015 (April 1, 2014 to March 31, 2015)
Expanded cooperation with the Toyota Group, which recognizes ADMs global quality
In the fiscal year ending March 31, 2015, the Indonesian market
forecasted 1,300,000 units, a slight increase of 5% year on year.
However, our concerns are more about the effects of the ongoing
depreciation of the rupiah from the previous fiscal year on parts costs.
With competition heating up from the successive release of new
models by every company, we expanded sales focusing on the Ayla
and seek to maintain momentum that will enable us to exceed market
growth with sales of 210,000 units (a 12% increase year on year).
We will also conduct an aggressive sales promotion of the Xenia,
showcasing the advantages of an FR vehicle that make it suitable for
Indonesian weather and climate.
To generate additional profit, we will further raise the current
local procurement ratio of 85% for the Ayla and implement cost
reduction activities for each model.
In June 2014, we added seven countries including Saudi
Arabia, Oman, and Kuwait as destinations for the export of the Toyota
Avanza in the Middle East. We will mitigate currency exchange risks
that accompany export expansion and also contribute to Indonesian
export industries.
R&D Center
Future Direction
Promote localized product and technology development using test course-equipped
R&D center
The R&D Center, which partially opened in the new plant in 2012, is
comprised of a design building, a design experimentation building,
and Indonesias first test course. The design experimentation building
and the test courses rough course are scheduled to open in 2014. In
the development of the Ayla, our approach to auto making that insists
on localization in all aspects has gained a favorable reception, but
the R&D Center has enabled product and technology development
that goes a little further in adopting local market needs. Turning this
potential into reality and responding to customer feedback is the next
initiative we will undertake in the Indonesian market. In the summer of

2015, we will expand the capacity of our state-of-the-art production
line at the existing engine factory, raise cost competitiveness and
quality, and further strengthen the Indonesian business.
Turning to exports, ADM is improving its quality in every field of
development and production. We want to increase in global quality
which gains Toyotas acceptance.
New Karawang Assembly Plant
Close-Up Strengthening Malaysian Business Base
10
Economic and Market Trends for the fiscal year ended March 31, 2014 (January 1, 2013 to December 31, 2013)
Keeping an eye on the Malaysian governments automotive policies
Malaysia has a population of approximately 30 million, of which about
67% are ethnic Malays. The economic growth rate dropped sharply
and was minus in 2009 due to the sudden decrease in exports
following the global financial crisis in 2008. From the second half of
2010, growth was on a slight decelerating trend caused by sluggish
foreign demand, but was 4.7% in 2013. Nominal GDP per capita in
2013 was US$10,548 and exceeded US$10,000 in 2012, high among
ASEAN countries (Source: Malaysian Investment Development
Authority/IMF).
As an automotive market, the Malaysian market has already
matured, but looking at its GDP per capita, it appears that modest
growth can be expected. Currently, Malaysia continues to debate
participation in the Trans-Pacific Partnership (TPP), so we need to
keep an eye on what impact it has on the automotive industry. In
a market where national cars* had held about a 60% share, it is
acknowledged that a major trend is afoot in this automotive market
with the emergence of non-national car makers launching low cost
cars and the promotion of energy-efficient vehicles (EEV) through
Malaysias national automotive policies. Under these circumstances,
656,000 cars were sold (up 4% year on year) in the Malaysian auto
market in the fiscal year ended March 31, 2014.
Daihatsus Progress in Malaysia
Market/Perodua Sales and Share

(fiscal year January through December)
1993
2005
Establishment of National Car manufacturer Perodua (with

participation of Daihatsu)*
Manufacture and marketing of an affordable entry-level car
for ordinary people
Marketing begins of the Myvi National Car developed
jointly by Perodua and Daihatsu
Malaysia market
Perodua sales
Perodua share (right)
(%)
70
35
65.6
30
60
29.9%
50
2012
Announcement of construction of new plant (singleshift operation, regular working hours) with production
capacity of 100,000 units per year (scheduled to begin
operations in mid-2014)
40
20
30
15
19.6
20
2014
25
Announcement of construction of new engine production

plant (scheduled to begin operation in mid-2016)
10
*Double-holding-company structure comprising a Malaysian government-affiliated investment company and

Daihatsu with Japanese trading houses
10
5
0
2009
2010
2011
2012
2013
2014
*What is the National Car?
The National Car is the fruit of the National Car Concept, initiated by the government of Malaysia to
promote national industrialization based on the automotive industry and to expand mobility options for
ordinary people by providing alternatives to public transport.
Initiatives in the fiscal year ended March 31, 2014

Began preparation to operate new internationally competitive company and plant
Although Malaysia is not a market with a lot of future growth potential,
it undertook the Economic Transformation Programme in 2010. With
its roadmap to 2020 and specified priority investment fields, Malaysia
is taking steps to achieve its target of joining the industrialized nations,
and therefore it appears that the number of automobiles owned will
continue to increase.
Non-national car makers are also focusing on this market and,
in the fiscal year ended March 31, 2014, released low-cost cars on
the market. However, Perodua sales were solid, growing at the same
rate as the market, and came in at 196,000 units (up 4% year on year),
marking the eighth consecutive year it has held the top market share.
These strong sales were backed by cost reduction initiatives
that Perodua has carried out at its plant since 2011. By developing
core suppliers, enhancing our competitive edge, and setting out to
discover new suppliers, we reduced costs and the resulting savings
were passed on to the Myvi and Alza.
Daihatsu has decided to operate its new vehicle production
plant as a new company under the name PERODUA GLOBAL
Myvi
MANUFACTURING SDN. BHD. through Peroduas holding company,

and it is proceeding with preparations with operation targeted for mid2014. As a model plant designed to produce high-quality, low-cost
cars, the new plant is making structural changes. The new company
will build a plant with a production capacity of 100,000 units (singleshift, regular working hours), press on with the construction of a local
procurement base, and accelerate the improvement of its global
competitiveness.
Close-Up Strengthening Malaysian Business Base
11
Initiatives in the fiscal year ending March 31, 2015 (January 1, 2014 to December 31, 2014)
Strengthen Peroduas entire management structure through new plant operation
In the fiscal year ending March 31, 2015, sales of 660,000 cars (up
1% year on year) are expected in the Malaysian market and Perodua
expects to sell 200,000 cars (up 2%), both remaining firm. Although
the debate about Malaysias participation in the TPP is not yet over,
if it does participate in the TPP, it is essential that it further stimulate
the countrys competitive environment through market liberalization.
In order to withstand this harsh competitive environment, we decided
to produce a new car at the new plant from the middle of 2014. And
even if market liberalization is carried out, we are preparing to face it
with an unshakable management structure and production system. In
May 2014, we built a new engine production plant, announced that we
will operate under a new company established together with a local
holding company in which Daihatsu has an equity stake, and began
preparations. The new engine plant is scheduled to operate from the
middle of 2016. The entire Perodua Group will press on with structure
changes including vehicles, automatic transmissions, and engines,
and will raise its global competitiveness.
Perodua
Future Direction
Implement initiatives to improve customer service to one that is distinctive to mature markets
Moving forward, we will improve the structure of the existing vehicle
plant by promoting, without easing up, our existing cost reduction
activities. After assessing markets trends in Malaysia, we will
reexamine the appropriate production capacity in conjunction with the
new plant.
Malaysia, because it is a mature market, requires meticulous

service in the area of sales. Perodua will enhance its sales and service
in order to improve customer service, fortify its sales force and value
chain, listen to the feedback of customers, and move steadily ahead
one step at a time.
Alza
Consigned Production and OEM Business
12
Structure of
Businesses
Consigned
Production
and OEM
Consigned Production Production at Daihatsu plants of vehicles and engines designed by customer companies for their brands
Joint development by the customer company and Daihatsu (vehicles of customer company brands are of consigned production)
Joint Development
Production and supply of vehicles developed or manufactured by Daihatsu to be sold under other companies brands
OEM Supply
Initiatives in the fiscal year ended March 31, 2014 (April 1, 2013 to March 31, 2014)
As a supplier of a wide range of vehicles and engines to Toyota and Fuji Heavy Industries (hereafter, Fuji Heavy) within the Toyota Group, we
have increased the number of such units sold in the Japanese and overseas markets to an annual total of some 580,000. Since beginning
consigned production of Toyota cars in 1969, we have expanded business to include OEM supply to Toyota, and from 2009, OEM supply to Fuji
Heavy. Total consigned and OEM production in Japan is now approximately 230,000 units per year. In overseas markets, we have increased
consigned production of the Toyota Avanza, marketed under a joint development project in Indonesia, as well as OEM supply to Toyota for the
Agya, which we began in September 2013. We now supply a total of around 340,000 units overseas, an increase of 22% year on year.
In addition to fine-tuning our production system, in years ahead, we believe we can contribute to the development of the Toyota Group
through Group member partnerships and by leveraging our unique creativity.
Production in Japan
Arrangement
Brand
(units) (Japan & overseas)
Probox / Succeed, Sienta
Consigned Production
Joint Development /
OEM Supply
Consigned Production and OEM vehicles/Production
Model
Toyota
Domestic consigned production

Domestic OEM vehicles
Overseas consigned production
Overseas OEM vehicles
Passo, bB
Rush, Pixis Space, Pixis Epoch, Pixis Van / Truck
Subaru (Fuji Heavy)
Dias Wagon, Pleo, Pleo Plus, Pleo Van, Lucra, Stella, Sambar Van / Truck
(Thousands of units)
344
350
300
Production Overseas
95
Arrangement
Production Country
Brand
Production Company
Joint Development /
Indonesia
Toyota
ADM
Model
233
200
Avanza
Rush, Townace / Liteace (for export to Japan), Agya / Wigo
OEM Supply
250
109
150
249
100
Consigned Production (Engines)

Engine Type
Displacement
Brand
Models Equipped
KR*1
1000cc gasoline
Vitz, Passo, iQ
NR*
1300cc gasoline
Passo, iQ, Corolla, MF Yaris, Ist, Auris, Porte, Spade, Vitz, Axio
SZ*2
1300, 1500cc gasoline
Toyota
bB, Rush
Hiace, Coaster, Land Cruiser Prado
TR
2700cc gasoline
KD
3000cc diesel
Land Cruiser Prado, Hiace, Dyna, Toyoace
3700, 4100cc diesel
Dyna, Coaster
*1 Built into the Daihatsu Boon

*2 Built into the Daihatsu Be-go and FAW Xenia
125
50
0
2009
2010
2011
2012
2013
2014
(Ye a r s e nde d Ma rc h 31)
Production and Sales Data
13
(fiscal year ended March 31)
Production
Global Production Units
Fiscal year ended
March 31, 2014
Global Production Units
1,696,330
units
(up 10.9% year on year)
Domestic Production Units
Japan
Japan
Japan consigned
Domestic
and OEM vehicles
Domestic consigned
productionproduction
and OEM vehicles
Domestic consigned production and OEM vehicles
Japan
Overseas Overseas
Overseas
Domestic
consigned
production
and
OEM
vehicles
Overseas consigned
and OEM vehicles
Overseas consigned
and OEM vehicles
Overseas Overseas consigned production and OEM vehicles
(Thousands
units) and OEM vehicles
1,696
(Thousands
of units) of
Overseas
consigned
production
1,600
1,696
1,696
1,696
344
344
344
344
1,600
1,600
(Thousands
of units)
1,600
1,200
1,200
1,200
420
1,200
800
420
233
800
800
800
400
233
400
400
699
400
0
0
0
0
2009
2009
699
2009
2010
2009
2010
2010
2011
2010
2011
2011
2012
2011
2012
Sales
Mini vehicles
Mini vehicles
Mini
vehicles
vehicles
RegisteredRegistered
vehicles
Registered
vehicles
Mini
vehicles
and OEM vehicles
ConsignedConsigned
and OEM vehicles
RegisteredConsigned
vehicles production and OEM vehicles
(Thousands
units)
(Thousands
ofproduction
units) ofand
Consigned
OEM
vehicles
1,200
1,200
900
420
420
600
233
233
Global Sales Units
699
699
1,106,676
1,200
units
(up 6.0% year on year)
600
1,106
1,106
1,106
405
900
900
405
405
405
600
600
690
2009
2010
2009
2010
2010
2011
2010
2011
2011
2012
2011
2012
701
300
300
0
0
2009
701
2009
701
701
2010
2011
2010
2011
2011
2012
2011
2012
600
60
699
800
699
600
600
(%)
69960
699
45
600
200
(%)
(%)
60
60
45
45
45
400
400
200
200
30.9
3030.9
30.9
30
30.9
15
200
2012
2013
2014
2013
2014
0
2012
2014
(YedaMa
r s erc
nde
d Ma rc h 31)
(Ye a r s e2013
nde
h 31)
(Ye
a
r
s
e
nde d Ma rc h 31)
2013
2014
(%)
800
800
(Thousands
of units)
2009
2010
2009
2010
690
690
2012
2013
2014
2013
2014
2012
2014
(YedaMa
r s erc
nde
d Ma rc h 31)
(Ye a r s e2013
nde
h 31)
(Ye
a
r
s
e
nde d Ma rc h 31)
2013
2014
Mini(left)
vehicles (left)
Mini vehicles
Minivehicle
vehicles
(left)
Share
of mini
vehicle
market (right)
Share of mini
market
(right)
Share
Mini vehicles
(left)of mini vehicle market (right)
(Thousands
of units)
(Thousands
of
units)
Share of(Thousands
mini vehicle of
market
units)(right)
800
400
300
0
2009
2009
400
600
300
0
0
1,106
1,200
900
690
300
300
233
233
10
10
Domestic Mini Vehicle Sales Units and Share of Mini

Vehicle Market in Japan
1,200
(Thousands
of units)
900
10
233
10
600
600
300
2012
2013
2014
2013
2014
2012
2014
(YedaMa
r s erc
nde
d Ma rc h 31)
(Ye a r s e2013
nde
h 31)
2013
2014
Japan
Japan
Japan
Overseas Overseas
Overseas
Japan
(Thousands
(Thousands
of units) of units)
Overseas
1,200
933 233
600
300
933
933
933
900
900
900
Global Sales Units
Fiscal year ended

March 31, 2014
1,200
1,200
(Thousands
of units)
30
30
15
15
15
0
0
2009
2009
2009
2010
2009
2010
2010
2011
2010
2011
2011
2012
2011
2012
0
0
2012
2013
2014
2013
2014
0
2012
2014
(YedaMa
r s erc
nde
d Ma rc h 31)
(Ye a r s e2013
nde
h 31)
(Ye
a
r
s
e
nde d Ma rc h 31)
2013
2014
Corporate Governance / Corporate Social Responsibility
14
Strengthen Corporate Governance

to Maintain Fair and Highly Trustworthy Management
Daihatsu has established the Daihatsu Group Philosophy and the
Daihatsu Groups Basic CSR Principles in order to pursue its mission
of making compact cars loved around the world while achieving
globalization of the Group. Daihatsu also has distributed Daihatsu
Group Action Guidelines. In accordance with our philosophy,
principles, and guidelines, we are striving to enhance our corporate
governance in a manner that satisfies all stakeholders, including our
customers, while maintaining management operations that are fair and
highly trustworthy.
Internal
Control
Structure
Report
Internal Control Committee
Instruct
Report
Report
Instruct
Report
Control Center
Each Division of the Company
Report
(department responsible for control

of each affiliated company)
Employees Voice
(Helpline System)
Instruct
Suggest
Report
Report
Affiliated
Companies
Audit Division
Hearing
Daihatsus internal control system reflects its adoption of a corporate

auditor system as stipulated in the Corporate Law of Japan, which
involves the supervision and decision-making on business execution
by the Board of Directors as well as auditing by the corporate
auditors and the Audit Committee. In addition, Daihatsu carries out
auditing through the Internal Auditing Department on a regular basis
to examine and evaluate activities and systems according to the
Companys management policies from a fair and just position. The
Export, Environmental, etc.
Chairman: a director whom the president appoints

Regular committee meetings are held four times a year. Additional meetings
can be held if needed.
All matters related to internal control are covered.
Hearing
Current Status of Internal Control System and

Risk Management System
Various Committees
Report
Board of Directors
Policy
Daihatsus Corporate Governance System

Daihatsu has adopted the corporate auditor system. We have 8
directors (as of June 27, 2014), and the Board of Directors (which
meets once a month, in principle) makes decisions on the execution
of important operations and supervises the directors in the execution
of their duties. We also have the vice presidents meeting (which
meets once a week, in principle), with the participation of the directors
and a full-time corporate auditor, which discusses and reports on
management matters of importance. In addition, in order to respond
to the globalization of business areas and also to enhance corporate
governance and strengthen the management structure, we introduced
the executive officer system and the functional business groups
system. We are promoting the realization of a clear delineation of
responsible parties and an organization that follows through on its
missions by strengthening and speeding up the business execution
function and having each functional business group complete the
process of business execution. We are also striving toward the
strategic use of human resources by binding our organization together.
Monitor
Audit Committee
Investigate
Cooperate
Corporate Auditors Audit
Company is also audited by an accounting auditor, and its corporate

auditors exchange opinions with them as needed.
With the aim of improving the corporate value and assuring
the reliability of financial reports and compliance with laws and
regulations, we established the Internal Control Committee, chaired
by a director whom the president appoints and with chief officers
of groups of the Company as committee members. Our Internal
Control Committee adjusts internal control systems based on the
Financial Instruments and Exchange Act and the U.S. SarbanesOxley Act and seeks to enhance the companywide internal control
system by including personal and other classified information. For
the Companys subsidiaries and other Group companies, we ensure
the enforcement of internal control activities through the affiliatedcompany management system.
For operations that require control, risk management, and
compliance in each division, in addition to the control activities carried
out regularly, we ensure internal audit activities thorough control
by means of supervision by the Export Management Committee,

the Daihatsu Environmental Meeting, the Joint Labor-Management
Conference, and the Functional Labor-Management Coordinating
Committee. For the Companys subsidiaries and other Group
companies, we ensure the enforcement of internal control activities
through the affiliated-company management system.
Daihatsu has published the Employee Action Guidelines
summarizing appropriate conduct as a corporation as well as
the basic attitude and conduct policies of employees concerning
their relationship with society, business partners, and external
organizations.
O u r G r o u p -w i d e e f f o r t s i n c l u d e t h e r e l e a s e o f A n t i Corruption Guidelines and setting up rules for advance reporting
and consultations between the Company, the parent company, and
subsidiaries.
Corporate Governance / Corporate Social Responsibility
On the occasion of establishing the new Group Philosophy,

Daihatsu has published the Daihatsu Group Action Guidelines,
which summarizes appropriate conduct as a corporation as well as
the basic attitude and conduct policies of employees concerning
their relationship with society, business partners, and external
organizations. Through these efforts, we are thoroughly implementing
compliance throughout the Group. In addition, we established the
Employees Voice Helpline system, whereby an employee can offer
pertinent information in anonymity, in the event that a threat of
conduct contrary to the law, social ethics, human rights, or internal
company regulations might take place in the workplace or in the case
when such conduct has already occurred. The system enables the
Company to take measures to prevent such occurrences or to take
quick actions in the event of an emergency.
Information Transmission Route During Crises
15
Policies and Measures to Encourage the Active Role of Women

The Company proactively maintains an environment conducive to
both work and raising children in order to encourage the active role of
women. To date, the Company has introduced various programs to
assist female employees. These include the child-rearing leave system
until the age of two (which exceeds legal statutes); the shortened
hours and child-care leave system for female employees with children
up 10 years old; the maternity leave system for pregnant employees;
and the return-to-work system for female employees who must resign
due to a spouses job transfer. In addition, we have implemented
measures that promote the role of female employees in manufacturing
facilities, including maintaining production lines comprised entirely of
women.
Crisis Countermeasures
Chief Officer
Department in crisis
Group Heads or Executive Officers
(Factory Heads, Department Heads)
In charge of
supervision
In charge of
public relations
Environmental Accounting
In accordance with the Ministry of the Environments Environmental
Accounting Guidelines, Daihatsu maintains an awareness of
environmental-related investments and maintenance costs. In the
year ended March 31, 2014, environmental conservation costs came
to 12.1 billion, or 1.0% of nonconsolidated net sales.
Environmental Conservation Cost

(Millions of yen)
President
Crisis Countermeasures Group
In order to foster the utilization of female employees in the

manufacturing workplace, we are working on a number of initiatives,
including women-only manufacturing lines.

In charge of legal affairs,
research, and information
collection
In charge of government and
industrial affairs
In charge of victim support
Category
1. Business Area Cost

(1) Pollution Prevention Cost
(2) Global Environmental Conservation Cost
(3) Resource Recycling Cost
2. Upstream/Downstream Cost
In charge of consumer
support
3. Environmental Conservation Cost, Administrative

4. Environmental Conservation Cost, R&D
5. Environmental Conservation Cost, Social Activity
In charge of mass media support

In 2009, the scope of Crisis Countermeasures Group activities was approved
by the officers meeting to include the execution of appropriate crisis
management in emergency situations, such as fires, accidents or scandals.
The resolution defines the role of each department in a crisis situation, allowing
appropriate judgment on crisis situations and an integrated response on a
working level as well as on a consolidated basis.
6. Environmental Remediation Cost

Subtotal
Total
Investment
499
235
205
59
0
21
393
0
0
913
Cost
2,417
1,479
377
561
0
787
8,053
0
3
11,259
12,173

Investment
286
135
117
34
0
12
784
0
0
1,082
Cost
2,128
1,249
342
537
0
782
6,880
0
2.3
9,792
10,874
Consolidated Financial Information
16
Years ended March 31
(Millions of yen)
2009
2010
2011
2012
2013
2014
1,631,395
1,574,727
1,559,412
1,631,320
1,764,976
1,913,259
Operating income
38,191
40,747
103,443
115,462
133,040
146,743
Net income
22,074
21,162
52,555
65,138
81,406
83,698
R&D expenses
44,209
43,734
38,227
33,830
35,701
46,482
Capital investment*1
76,700
36,745
40,614
69,336
73,181
97,339
Depreciation*1
83,654
72,945
63,728
61,072
56,244
59,601
Cash flows from operating activities
76,087
132,011
144,107
205,815
129,788
139,383
Cash flows from investing activities
(84,611)
(47,234)
(42,022)
(60,673)
(65,125)
(125,151)
Cash flows from financing activities
3,157
(37,521)
(27,791)
(37,831)
(38,556)
(22,434)
(8,524)
84,777
102,085
145,142
64,663
14,232
1,098,368
1,134,105
1,102,981
1,277,415
1,344,542
1,449,542
365,114
396,332
448,332
504,329
591,750
665,617
6.8
6.4
14.5
16.0
17.5
15.9
29.2
30.2
34.8
33.7
37.2
38.0
Net income-basic
51.80
49.66
123.34
152.86
191.05
196.41
Cash dividends
12.00
12.00
30.00
45.00
56.00
56.00
39,019
39,985
39,760
40,076
39,862
40,761
Operating performance
Net sales
Cash flow
Free cash flow*
Financial position
Total assets
Total net assets
Financial indicators (%)
Return on equity
Equity ratio
Per share information ()
Other indicators
Number of employees
*1 Excluding assets for lease.

*2 Free cash flow is the sum of cash flows from operating and investing activities.
Consolidated Financial Information
Net salesNet
(left axis)
salesNet
(left sales
axis)
(left axis)
Operating
Operating
income
Operating
(right
income
axis) (right
income
axis) (right axis)
(Billions of yen)(Billions of yen)(Billions of yen)
2,000
2,000
Net income
Net(left
income
axis)
Net (left
income
axis)
(left axis)
Return on
Return
equityon
Return
(right
equity
axis) on
(right
equity
axis) (right axis)
(Billions of yen)(Billions of yen)(Billions

(Billionsof
ofyen)
yen)(Billions of yen)(Billions of yen)
2,000
160 100
160
1,913.2
1,913.2
146.7
Net salesNet
(left axis)
salesNet
(left axis)
sales (left axis)
Operating
Operating
income
Operating
(right
income
axis) (right
income
axis) (right axis)
1,500
1,500
1,500
1,913.2
146.7
120
1,000
1,000
1,500
1,500
1,500
120
120
500
500
500
40
40
1,000
1,000
1,000
80
80
160
1,913.2
1,913.2
146.7
80
1,913.2
146.7
500
146.7
40
80
97.3
0
40
97.3
20
60
0
40
0
40
0
40
2009
20
2009
97.3
59.6
20
83.6
R&D expenses
R&D expenses
R&D expenses
59.6
59.6
0
40
0
8
15.9
46.4
46.4
46.4
46.4
46.4
46.4
40
15.9
83.6
8
16
4
12
2010
2009 2011
2010
2012
2011
2012
2013
2009
20102013
20112014
2012 2014
2013
12 30
20
50
12
30
20 50
30
50
8 20
16
40
8 40
20
16
20
40
4 30
10
12
10
30
15.9
4 10
12
30
20
0 20
0
8
2009
2010
2011
2012 2014
2013
2010
2009 2011
2010
2012
2011
2013
2012
2014
2013
2009
4 10
2014
1,200
600
1,449.5
1,449.5
1,600
1,600
800
800
1,200
1,200
400
400
800
0
(Years ended March

(Years
31)
ended March
31)ended March 31)
(Years
2010
2009 2011
2010
2009
2012
2011
2010
2013
2012
2011
2014
2013
2012 2014
2013
2014
(Years ended March

(Years
31)
ended March
(Years
31)ended March 31)
600
600
665.6
Net assets
Net(leftassets
axis)Net
(left
assets
axis)
(left axis)
Equity450
ratio
Equity
(right
ratio
axis)
Equity
(right ratio
axis) (right axis)
450
665.6
665.6(%)
40
665.6(%)
40
38.0
38.0
38.0
(%)
40
30
30
30
665.6(%)
665.6(%)
(%)
600
600
600
300
300
1,200
450
450
450
30
30
30
400
150
150
150
10
10
10
800
800
300
300
300
20
20
20
1,449.5
1,449.5
2009 2011
2010
2009
2011
20102013
2012
20112014
2013
2012 2014
2013
2010
2012
400
2009
10
1,449.5
300
2009
1,449.5
450
1,200
800
2014
2014
(Years ended March

(Years
31)ended March
(Years
31)
ended March 31)
1,600
59.6
1,600
2009
0
20
2010
2009 2011
2010
2012
2011
2012
2013
2009
20102013
20112014
2012 2014
2013
Net assets
Net(leftassets
axis)Net
(left
assets
axis)
(left axis)
Equity ratio
Equity
(right ratio
axis)
Equity
(right ratio
axis) (right axis)
2014
4 10
(Years ended March

(Years
31)
ended March
(Years
31)ended March 31)
1,600
59.6
08 20
0
2009
2014
(Years ended March

(Years
31)ended March
(Years
31)
ended March 31)
20
(Years
(Years
31)
ended March 31)
(Years ended March
31)ended March
400
2009
2010
2011
2012 2014
2013
2010
2009 2011
2010
2012
2011
2013
2012
2014
2013
16 40
83.6
20
60
Total assets
Total assets
Total assets
97.3
2010
2009 2011
2010
2009
2012
2011
20102013
2012
20112014
2013
2012 2014
2013
20
16 40
50
(%)(Billions of yen)
(%)(Billions of yen)(Billions of yen)
20
60
0
40
2014
97.3
40
80
20
60
15.9
83.6
20 50
(%)
40
80
2009
2014
1,200
59.6
60
100
20
60
16
12
20
15.9
40
1,600
Capital investment
Capital investment
Capital investment
80
80
Depreciation
Depreciation
Depreciation
40
80
83.6
80
40
80
20 50
Total assets
Total assets
Total assets
100
97.3
60
100
(%)(Billions of yen)
(%)(Billions of yen)(Billions of yen)
20
80
60
100
(%)
40
80
(Years ended March

(Years
31)
ended March
(Years
31)ended March 31)
100
15.9
60
100
R&D expenses
R&D expenses
R&D expenses
80
120
20
60
Capital investment
Capital investment
Capital investment
Depreciation
Depreciation
Depreciation
100
60
160 100
(Years ended March

(Years
31)ended March
(Years
31)
ended March 31)
40
40
40
20
2009 2011
2010
2009
2011
2010
2012
2011
2013
2012 2014
2013
2010
2012
2013
2014
2009
80
2010
2009 2011
2010
2012
2011
2012
2013
2009
20102013
20112014
2012 2014
2013
500
income
Net(left
income
axis)
Net(left
income
axis)
(left axis) 83.6
80
80
Return
Return
equityon
Return
(right
equity
axis) on
(right
equity
axis) (right axis)
120 on
60
160 100
1,000
500
100
80
120
2,000
100
(Billions of yen)(Billions of yen)(Billions

(Billions of
of yen)
yen)(Billions of yen)(Billions of yen)
2,000
2009
160
146.7
Net
2,000
17
Years ended March 31
400
2014
2009
(Years
ended March 31)
(Years ended March
(Years
31)ended March
31)
150
150
2009
2010
2011
2012 2014
2013
2010
2009 2011
2010
2012
2011
2013
2012
2014
2013
2014
2009
(Years ended March

(Years
31)
ended March
31)ended March 31)
(Years
40
38.0
20
40
38.0
2009
20102013
20112014
2012 2014
2013
2010
2009 2011
2010
2012
2011
2012
2013
150
20
40
38.0
20
2014
(Years ended March

(Years
31)ended March
(Years
31)
ended March 31)
10
10
10
2009
2010
2011
2012 2014
2013
2010
2009 2011
2010
2012
2011
2013
2012
2014
2013
2014
(Years ended March

(Years
31)
ended March
31)ended March 31)
(Years
Consolidated Balance Sheet
18
March 31, 2014 and 2013
Millions of yen
2014
ASSETS
Current assets:
Cash on hand and in banks
Deposits
Trade notes and accounts receivable
Electronically recorded monetary claims-operating
Merchandise and finished products
Work in process
Raw materials and supplies
Deferred tax assets
Others
Less allowance for doubtful accounts
Total current assets
Fixed assets:
Property, plant and equipment:
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Construction in progress
Others, net
Total property, plant and equipment
(5)
(2) (4)
(2) (4)
(2) (4)
(4)
(1)
Intangible fixed assets

Investments and other assets:
Investment securities
Long-term loans receivable
Deferred tax assets
Net defined benefit asset
Others
Less allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets
(2) (3)
2013
150,341
208,316
309,786
6,159
30,733
16,489
25,564
28,672
79,140
(1,644)
853,559
119,079
205,742
283,550
5,272
35,069
15,749
25,986
29,420
75,610
(1,468)
794,013
148,168
129,153
129,839
30,681
30,149
467,991
141,423
121,632
128,561
11,958
32,738
436,314
6,940
7,573
96,017
845
18,270
452
5,726
(261)
121,051
595,982
1,449,542
84,494
1,929
14,474
6,036
(294)
106,640
550,528
1,344,542
Consolidated Balance Sheet
19
March 31, 2014 and 2013
Millions of yen
2014
LIABILITIES
Current liabilities:
Trade notes and accounts payable
Electronically recorded monetary claims
Short-term debt
Accrued income taxes
Accrued expenses
Provision for bonuses for directors and corporate auditors
Provision for product warranties
Others
Total current liabilities
Long-term liabilities:
Long-term debt
Deferred tax liabilities
Provision for retirement benefits for employees
Provision for retirement benefits for directors and corporate auditors
Net defined benefit liability
Others
Total long-term liabilities
Total liabilities
NET ASSETS
Shareholders equity:
Common stock
Additional paid-in capital
Retained earnings
Treasury stock, at cost
Total shareholders equity
Accumulated other comprehensive income
Net unrealized holding gain (loss) on securities
Deferred gain (loss) on hedges
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Minority interests
Total net assets
Total liabilities and net assets
(2)
(5)
(2)
2013
214,708
66,493
113,901
22,353
82,616
454
15,769
114,752
631,050
196,247
100,991
116,220
24,087
79,466
419
12,314
98,293
628,040
59,805
2,532
1,650
83,265
5,620
152,873
783,924
49,089
4,153
64,207
1,540
5,760
124,751
752,791
28,404
10,949
514,793
(610)
553,536
28,404
10,896
454,978
(667)
493,611
18,382
(14)
(7,521)
(13,342)
(2,496)
114,577
665,617
1,449,542
15,390
(71)
(8,280)
7,038
91,099
591,750
1,344,542
Consolidated Statements of Income
20
March 31, 2014 and 2013
Millions of yen
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses:
Sales incentive
Packing and transportation expenses
Advertising expenses
Other selling expenses
Salaries and bonuses
Legal and employee benefits expenses
Retirement benefit expenses
Depreciation
Provision of allowance for doubtful accounts
Others
Total selling, general and administrative expenses
Operating income
Other income:
Interest income
Dividend income
Gain on sales of fixed assets
Equity in earnings of affiliates
Foreign exchange gains
Miscellaneous income
Total other income
Other expenses:
Interest expenses
Loss on sales and disposals of fixed assets
Miscellaneous expenses
Total other income
Ordinary income
Extraordinary income:
Subsidy for facilities
Total extraordinary income
(1)
(1)
(2)
2014
1,913,259
1,481,630
431,628
2013
1,764,976
1,367,910
397,065
23,268
12,257
27,436
12,800
48,936
81,969
15,793
3,961
15,586
669
42,205
284,885
146,743
25,857
10,719
24,502
10,100
36,237
78,602
15,233
3,741
14,284
311
44,435
264,025
133,040
6,254
939
469
6,429
3,022
4,891
22,006
4,171
879
249
5,812
2,887
6,472
20,473
1,671
1,696
1,888
5,256
163,494
1,514
1,612
2,213
5,340
148,173
523
523
96
96
Consolidated Statements of Income
21
March 31, 2014 and 2013
Millions of yen
2014
Extraordinary loss:
Impairment loss
Loss on reduction of fixed assets
Total extraordinary loss
Income before income taxes and minority interests
Income taxes:
Current
Deferred
Total income taxes
Income before minority interests
Minority interests in net income of consolidated subsidiaries
Net income
(3)
(4)
2013
1,793
523
2,316
161,701
379
96
476
147,793
52,319
384
52,704
108,996
25,298
83,698
50,578
(4,206)
46,372
101,421
20,014
81,406
Consolidated Statements of Comprehensive Income
22
March 31, 2014 and 2013
Millions of yen
Income before minority interests
2014
108,996
2013
101,421
3,024
48
3,373
2,426
8,873
117,869
4,678
(69)
13,179
2,049
19,838
121,259
87,506
30,363
93,409
27,850
Other comprehensive income

Share of other comprehensive income of equity method affiliates
Total other comprehensive income
Comprehensive income
(1)
Comprehensive income attributable to

Comprehensive income attributable to owners of the parent
Comprehensive income attributable to minority interests
Consolidated Statements of Changes in Net Assets
23
March 31, 2014 and 2013
Millions of yen
Shareholders equity
Balance at April 1, 2012
Accumulated other comprehensive income
Common
stock
Additional
paid-in
capital
Retained
earnings
Treasury
stock, at
cost
Total shareholders
equity
28,404
10,896
396,602
(658)
435,244
Total
Net unrealForeign
accumulated
ized holding
Deferred
currency Remeasurements
other
gain (loss) on gain (loss) on translation
of defined
comprehensecurities
hedges
adjustments benefit plans
sive income
10,641
(7)
(15,598)
(4,964)
Minority
interests
Total
net assets
74,049
504,329
Changes during the year

Dividends from retained earnings
(23,030)
(23,030)
(23,030)
Net income
81,406
81,406
81,406
Acquisition of treasury stock
(8)
Disposal of treasury stock
(8)
(8)
Net change in items other than

shareholders equity during
the year
Total changes during the year
Balance at April 1, 2013
4,749
(63)
7,317
12,003
17,050
29,053
58,375
(8)
58,367
4,749
(63)
7,317
12,003
17,050
87,420
28,404
10,896
454,978
(667)
493,611
15,390
(71)
(8,280)
7,038
91,099
591,750
Changes during the year

Dividends from retained earnings
(23,882)
(23,882)
(23,882)
Net income
83,698
83,698
83,698
Acquisition of treasury stock

Disposal of treasury stock
52
(7)
(7)
(7)
64
116
116
Net change in items other than

shareholders equity during
the year
Total changes during the year
Balance at March 31, 2014
2,992
56
759
(13,342)
(9,535)
23,477
13,942
52
59,815
56
59,924
2,992
56
759
(13,342)
(9,535)
23,477
73,867
28,404
10,949
514,793
(610)
553,536
18,382
(14)
(7,521)
(13,342)
(2,496)
114,577
665,617
Consolidated Statements of Cash Flows
24
March 31, 2014 and 2013
Millions of yen
2014
2013
Cash flows from operating activities

Income before income taxes and minority interests
Depreciation
Increase (decrease) in provision for retirement benefits for employees
Increase (decrease) in net defined benefit liability
Increase (decrease) in provision for retirement benefits for directors and corporate auditors
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Equity in (earnings) loss of affiliates
Loss (gain) on sales of property, plant and equipment
Loss on disposal of property, plant and equipment
Loss (gain) on sales of short-term and long-term investment securities
Loss (gain) on valuation of short-term and long-term investment securities
Decrease (increase) in notes and accounts receivable
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable
Increase (decrease) in consumption taxes payable
Others
Subtotal
Interest and dividends received
Interest paid
Income taxes paid
Income taxes refunded
Net cash provided by operating activities
161,701
66,747
19,967
110
141
(7,193)
1,671
(492)
(6,429)
(469)
1,696
(22)
4
(25,978)
3,390
(16,071)
58
(13,127)
185,704
9,120
(1,691)
(53,966)
217
139,383
147,793
62,927
3,758
(114)
97
(5,051)
1,514
(1,010)
(5,812)
(249)
1,612
(779)
19
23,723
(1,411)
(44,227)
(1,255)
(5,311)
176,223
6,476
(1,546)
(51,536)
172
129,788
Consolidated Statements of Cash Flows
25
March 31, 2014 and 2013
Millions of yen
2014
2013
Cash flows from investing activities

Payments into time deposits
Proceeds from refund of time deposits
Payments into deposits
Payments for acquisition of property, plant and equipment
Proceeds from sales of property, plant and equipment
Payments for acquisition of investment securities
Proceeds from sales of investment securities
Purchase of investments in subsidiaries
Proceeds from purchase of investment in a subsidiary resulting in change in scope of consolidation
Decrease (increase) in short-term loans receivable
Payments for long-term loans receivable
Proceeds from collection of long-term loans receivable
Net cash used in investing activities
(131)
127
(37,000)
(90,257)
2,375
(87)
36
(0)
(1,264)
(379)
1,429
(125,151)
(129)
136
(64,145)
1,751
(1,148)
757
(982)
(971)
(2,723)
(488)
2,818
(65,125)
2,582
33,532
(28,107)
(5)
(23,882)
(9,451)
2,985
(87)
(22,434)
1,617
26,812
(31,900)
(5)
(23,030)
(9,392)
(2,657)
(38,556)
5,034
(3,168)
324,692
321,524
7,103
33,209
291,482
324,692
Cash flows from financing activities

Net increase (decrease) in short-term debt
Proceeds from long-term debt
Repayments of long-term debt
Payments for acquisition of treasury stock
Dividends paid
Dividends paid to minority interests in consolidated subsidiaries
Proceeds from minority interests
Repayments of lease obligations
Net cash provided by financing activities
Effect of exchange rate changes
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
(1)
Notes to Consolidated Financial Statements
26
Significant Accounting Policies Forming the Basis of Presentation of
Ltd., and Daihatsu (Shanghai) Co., Ltd.
the Consolidated Financial Statements
For these subsidiaries, their financial statements as of December 31 are used in the preparation of the Companys consolidated financial statements. When significant transactions occur
1. Scope of consolidation
at those subsidiaries between their fiscal year-end and the Companys fiscal year-end, these
(Consolidated subsidiaries: 56)
transactions are included in the consolidated financial statements as necessary.
All subsidiaries are included in the scope of consolidation.

Perodua Global Manufacturing Sdn. Bhd. was newly incorporated during the fiscal year
4. Accounting policies
under review and was included in the scope of consolidation. Daihatsu Holland B.V., Daihatsu
(a) Fair values of marketable securities and investment securities
Belgium N.V. and DMCA Inc., which were consolidated subsidiaries in and before the previous
Other securities
fiscal year, were liquidated and excluded from the scope of consolidation.
With market quotations

Stated at the market price on March 31, 2014 (with any unrealized valuation differ-
2. Equity method
(a) Affiliates accounted for by the equity method: 18
ence regarded under net assets, and with cost computed using the moving-average
method)
Major affiliates accounted for by the equity method are Daihatsu Diesel Mfg. Co., Ltd.,
Without market quotations
Metalart Corporation and OSAKA DAIHATSU CORPORATION.
Stated at cost, cost being determined by the moving-average method
KAWAMURA-KAKO CO., LTD. was newly incorporated during the fiscal year under
review and was included in the scope of affiliates accounted for by the equity method. Briggs
(b) Inventory valuation standards and methods
& Stratton Daihatsu LLC was liquidated and excluded from the scope of affiliates accounted
Finished products (manufactured vehicles)
for by the equity method.
Mainly stated at cost as determined by the cost average method (method of reducing
book value in line with decreases in profitability)
(b) Affiliated companies not accounted for by the equity method (a total of three companies,
including Tono Daihatsu Co., Ltd.) are excluded because they do not have a material impact
on consolidated net income, retained earnings and others individually or in the aggregate.
Merchandise (parts/components)
Merchandise (purchased vehicles)
(c) As for affiliates accounted for by the equity method, when their fiscal year-end is different
from the Companys fiscal year-end, their financial statements as of their fiscal year-end are
used.
Mainly stated at cost as determined by the identified cost method (method of reducing
Raw materials and supplies
3. Fiscal year of consolidated subsidiaries
The fiscal year-end for the following six consolidated subsidiaries is December 31: Perodua
Work in process
Auto Corporation Sdn. Bhd., Perodua Manufacturing Sdn. Bhd., Perodua Engine Manufacturing
Sdn. Bhd., Perodua Global Manufacturing Sdn. Bhd., Tianjin Daihatsu Precision Machinery Co.,
27
(c) Depreciation methods for significant depreciable assets
estimated bonuses to be paid to directors and corporate auditors for the fiscal year ended
Property, plant and equipment (excluding lease assets)
March 31, 2014 are accrued.
Depreciation is principally computed using the declining balance method.

However, the depreciation of buildings (excluding attached facilities) acquired on or after
April 1, 1998, is computed using the straight line method.
Provision for retirement benefits for directors and corporate auditors

To prepare for the payment of retirement benefits to directors, executive officers and corporate auditors, a necessary amount determined in accordance with the internal rules is
Furthermore, acquisitions made by the Company and its domestic consolidated subsid-
accrued at the end of the fiscal year.
iaries on or before March 31, 2007, that have been depreciated down to their final depreciation limit are depreciated in equal amounts of the difference between 5% of their acquisition
price and their memorandum value over a five-year period from the fiscal year after the fiscal

To provide for expenses for after-sales service based on warranty certificates, service
year in which their depreciation limit reached zero.
expenses in the amount estimated to be incurred over the warranty period are accrued.
Intangible fixed assets
(e) Accounting method for retirement benefits
Depreciated principally using the straight line method
(Method of attributing benefits to period of service)

As a method of attributing benefits to period up to the end of the fiscal year under review, the
Lease assets
straight line method is used to calculate retirement benefit obligations.
Lease assets related to finance lease transactions that do not transfer ownership are depreciated using the straight line method over lease period, which corresponds to the number of
(Accounting method for actuarial differences and past service costs)
years of useful life, with a residual value of zero.
Past service costs are amortized chiefly on a straight line method over the average estimated
Of finance lease transactions other than those recognized as transferring ownership of the
remaining service period of employees (18 years) at the time of occurrence. Actuarial differ-
leased properties to the borrower, transactions that commenced before March 31, 2008, are
ences are amortized ratably from the following fiscal year, chiefly on a straight line method
treated for accounting purposes as operating lease transactions.
over the average estimated remaining service period of employees (18 years) at the time of
occurrence in each fiscal year.
(d) Policy for significant reserve allowances

Allowance for doubtful accounts
(Adoption of a simplified method at small companies, etc.)
An allowance against losses caused by doubtful receivables and other bad debts is made
Certain consolidated subsidiaries adopt a simplified method of using amounts payable for vol-
based on historical credit loss ratios. With specific claims where there is an identified credit
untary retirement associated with retirement benefits at the end of the fiscal year as retirement
risk, an allowance is made for estimated uncollectible amounts based on assessment of the
benefit obligations to calculate net defined benefit liability and retirement benefit expenses.
recoverability of individual receivables.
Certain consolidated subsidiaries adopt a multi-employer pension plan and record as net
defined benefit liability the difference between the amount equivalent to retirement benefit
Provision for bonuses for directors and corporate auditors
obligations and the amount equivalent to pension plan assets based on the balance of the
To provide for the payment of bonuses for directors and corporate auditors, the shares of
minimum funding standard in the calculation of pension financing.
28
(f) Goodwill amortization and amortization periods
We have changed the accounting method so that the amount obtained by subtracting pen-
Goodwill is recognized as a loss or a gain as incurred, due to immateriality.
sion plan assets from retirement benefit obligations will be recorded as net defined benefit liability, and unrecognized actuarial differences and unrecognized past service costs were recorded
(g) Cash and cash equivalents
as net defined benefit liability.
In the consolidated statements of cash flows, cash and cash equivalents are composed of
As the application of the Retirement Benefits Accounting Standard, etc. follows the tran-
cash on hand, deposits that may be withdrawn on demand and highly liquid investments
sitional treatment as provided for in Paragraph 37 of the Retirement Benefits Accounting
purchased with original maturities of three months or less and that present a low risk of
Standard, we have made an adjustment for the amount affected by the change to the remea-
fluctuation in value.
surements of defined benefit plans in accumulated other comprehensive income in the fiscal
year under review.
(h) Accounting procedure of consumption tax
The tax-excluded method is adopted.
year under review, and accumulated other comprehensive income decreased 13,342 million.
As a result, 83,265 million of net defined benefit liability was recorded at the end of the fiscal
Net assets per share for the fiscal year under review declined 31.31.
(Changes in accounting policies)
(Change in the method used for the conversion of the revenue and costs of foreign subsidiaries, etc.)
(Accounting Standards, etc. yet to be applied)
In the past, the revenue and costs of foreign subsidiaries, etc. were converted into yen using the
Accounting Standard for Retirement Benefits (ASBJ Statement No. 26; May 17, 2012)
foreign exchange rate on the date of closing of the relevant foreign subsidiary, etc. However,
Guidance on Accounting Standard for Retirement Benefits (ASBJ Guidance No. 25; May 17,
due to an increase in the importance of the revenue and costs of foreign subsidiaries, etc.,
2012)
the above method was changed to a method of conversion into yen using the average foreign
(1) Overview
exchange rate for the fiscal year to properly reflect profits and losses accruing throughout
The Accounting Standard for Retirement Benefits and the Guidance on Accounting Standard
the fiscal year in the consolidated financial statements from the fiscal year under review. The
for Retirement Benefits have been revised from the viewpoint of improvements to financial
amount of the effect of this on profit and loss and information per share for the previous fiscal
reporting and international convergence, mainly focusing on how actuarial differences and
year, as well as the accumulated amount of the effect of this to the beginning of the previous
past service costs should be accounted for; how retirement benefit obligations and current
fiscal year, are negligible.
service costs should be determined; and the enhancement of disclosures.
(Application of the Accounting Standard for Retirement Benefits, etc.)
(2) Scheduled date of application
From the end of the fiscal year under review, the Accounting Standard for Retirement Benefits
Revised calculation methods for retirement benefit obligations and current service costs
(ASBJ Statement No. 26, issued on May 17, 2012; hereinafter the Retirement Benefits
are scheduled to be applied from the beginning of the fiscal year ending March 31, 2015
Accounting Standard) and the Guidance on Accounting Standard for Retirement Benefits
onward.
(ASBJ Guidance No. 25, issued on May 17, 2012; hereinafter the Guidance on Retirement
Benefits Accounting Standard) are applied (excluding the provisions set forth in the text of
(3) Effect of the application of the Retirement Benefits Accounting Standard, etc.
Paragraph 35 of the Retirement Benefits Accounting Standard and Paragraph 67 of the
The effect of the application of the Retirement Benefits Accounting Standard, etc. on operat-
Guidance on Retirement Benefits Accounting Standard).
ing income, ordinary income and income before income taxes and minority interests is minor.
29
At the beginning of the following fiscal year, retained earnings and net defined benefit
asset will rise 13,316 million and 2,648 million, respectively, and net defined benefit liability
Millions of yen
(Liabilities associated with the above)

Short-term debt
will decline 18,162 million.
2014
7,655
Long-term debt (including current portion)

Total
(Change in presentation method)
704
8,359
(Notes to consolidated statements of income)

Reversal of foreign currency translation adjustments, which was presented separately under
(3) Investments in Affiliates
Other expenses in the previous fiscal year, was less than 10% of Other expenses and is
Millions of yen
included in Miscellaneous expenses in the fiscal year under review. The consolidated financial
statements in the previous fiscal year have been reclassified to reflect this change in the presen-
2014
Fixed assets
Investment securities (shares)
tation method.
54,204
As a result, Reversal of foreign currency translation adjustments of 798 million and

Miscellaneous expenses of 1,414 million, which were presented under Other expenses
(4) The Company received government and other subsidies (a special subsidy for corporate
in the consolidated statements of income in the previous fiscal year, are now presented as
structural investment, a subsidy for development and diffusion of a low-emission vehicle,
Miscellaneous expenses of 2,213 million.
gain on insurance adjustment, a subsidy for companies located in industrial parks in the city
of Nakatsu, a subsidy for supporting new energy business, a subsidy on business promoting
(Notes to consolidated balance sheets)
the introduction of highly energy-efficient systems for housing and structures, a subsidy from
1.
the city of Kurume for the transfer of industry, a regional business promotion subsidy from
(1) Accumulated depreciation on property, plant and equipment
Shimane Prefecture, a regional business promotion subsidy from Fukuoka Prefecture, a
Millions of yen
business expansion subsidy from the city of Izumo a subsidy for the business for promoting
2014
Accumulated depreciation on property, plant and equipment
821,208
the introduction of the in-house power generation facility and Kurume Citys green Asia
international strategy synthesis special ward business promotion grant). Accordingly, the
following amounts are directly deducted from acquisition costs: buildings of 647 million,
(2) Other assets pledged as collateral
structures of 8 million, machinery of 912 million, tools and equipment of 5 million and
Millions of yen
(Assets pledged as collateral)

Buildings and structures
Machinery, equipment and vehicles
Land
Investment securities
Total
land of 402 million.
2014
5,965
6
(5)
On January 15, 2010, the Companys consolidated subsidiary in Indonesia, P.T. Astra
12,654
Daihatsu Motor, received from the Indonesian tax authorities a notice of revision of values
62
of inter-company royalty transactions to affiliated companies during the fiscal year ended
18,689
March 31, 2008, of approximately 261.2 billion Indonesian rupiahs (equivalent to approximately 2,377 million at the exchange rate prevailing on March 31, 2014), and a provisional
payment was made on February 12, 2010. As the Company views as extremely irrational the
30
stance of the Indonesian tax authorities, which is that no royalty payment deductions may be
2. Guarantee obligation
Millions of yen
indicated, the Company submitted a written statement of objection to the authorities on April
14, 2010.
In line with its submission of this written statement of objection, the Company reported
2014
Financial institution loans guarantee for employees
11
its royalties under the comparable uncontrolled price method and, taking the possibility of a
refund into consideration, stated this amount in the other category within current assets.
3. Contingent liabilities
In addition, in view of a correction notice, dated June 4, 2010, received from Indonesian
On June 4, 2010, a consolidated subsidiary in Indonesia, P.T. Astra Daihatsu Motor, received
tax authorities in regard to the amount of 376.0 billion Indonesian rupiahs (3,422 million
a correction notice from Indonesian tax authorities in regard to the amount of 686.2 billion
based on the exchange rate as of March 31, 2014) related to related-company royalty
Indonesian rupiahs (6,244 million based on the exchange rate as of March 31, 2014) related to
transaction pricing during the fiscal year ended March 31, 2009, accrued income taxes were
sales transaction pricing during the fiscal year ended March 31, 2009.
recorded under current liabilities for an amount based on the estimated future tax liability.
The indication by Indonesian tax authorities that net sales were underreported is based on
The calculation of this estimate covers also the period for which a taxation decision has yet
a profit margin assessment relative to other companies selected by Indonesian tax authorities,
to be rendered.
and is remarkably lacking in rationality. Given the unacceptability of the correction notice content
The written statement of objection filed on April 14, 2010 was rejected by Indonesian
to both the Company and its consolidated subsidiary, an objection was filed with Indonesian tax
tax authorities as of April 12, 2011. On June 20, 2011, the Company and its consolidated
authorities on June 30, 2010.
subsidiary advocated the correctness of the perspective taken by themselves in a tax court.
On June 28, 2011, the objection filed on June 30, 2010 was accepted in part by Indonesian
Given the view that rejection of the Companys objection has done nothing to change the
tax authorities, which lowered the amount of the correction to 246.9 billion Indonesian rupi-
possibility of a refund of provisional tax payments, no additional accounting entries have
ahs (equivalent to approximately 2,247 million at the exchange rate prevailing on March 31,
been made.
2014). However, the Company and its consolidated subsidiary found it regrettable that their
On June 28, 2011, the objection filed for the fiscal year ended March 31, 2009 was
position was not accepted in total and continued advocating for its correctness in a tax court on
accepted in part by Indonesian tax authorities, which lowered the amount of the correction to
September 27, 2011.
120.7 billion Indonesian rupiahs (equivalent to approximately 1,099 million at the exchange
The same accounting approach used to calculate taxable income for the fiscal year ended
rate prevailing on March 31, 2014). However, the Company and its consolidated subsidiary
March 31, 2010, has remained in use since then, but no correction regarding the same
found it regrettable that their position was not accepted in total and continued advocating
accounting approach has been received from Indonesian tax authorities.
for its correctness in a tax court on September 27, 2011. In doing so, the Company made a
As of this point in time, it is difficult to make any forecasts regarding the resolution of this
provisional payment of 131.0 billion Indonesian rupiahs (equivalent to approximately 1,192
matter and, therefore, also difficult to forecast financial impacts on the Company and its consol-
million at the exchange rate prevailing on March 31, 2014), which was equivalent to 50%
idated subsidiary.
of the sum of the amount of the abovementioned correction and the amount of correction
related to sales transaction pricing, to Indonesian tax authorities as a deposit. The Company
stated the expected amount of refund in the other category within current assets.
31
(Notes to consolidated statements of income)
(Notes to consolidated statements of comprehensive income)
(1) The following research and development expenses, in the amount of 46,482 million, were
Millions of yen
2014
included in cost of sales and selling, general and administrative expenses for the fiscal year
ended March 31, 2014.
Amount during the period

Reclassification adjustments
(2) Consolidated fiscal year under review (April 1, 2013 to March 31, 2014)
Subsidy for facilities comprises delivered amounts of Fukuoka Prefectures grant for promoting industrial locations and Kurme Citys green Asia international strategy synthesis
special ward business promotion grant.
4,682
(18)
Adjustments of tax effects
4,664
Tax effects
(1,639)
3,024
(3) The Group recorded impairment loss on the following assets:

Use
Type
Location
Idle assets
Land
Osaka Prefecture, etc.
For the purpose of impairment testing, assets of the Group are grouped into the categories
of automobile-related assets and idle assets.

252
(188)
64
Tax effects
(16)
48
The carrying amount of the idle assets was reduced to the recoverable amount as there
is no plan for future use and the fair value has declined significantly. The decrease in the
carrying amount (1,793 million) was recognized as an impairment loss in extraordinary
loss. The recoverable amount was measured at the net realizable value and the fair value
of land was measured based on the amount equivalent to the publicly notified land price
calculated on the basis of the assessed value of real estate for property tax purposes as the
amount was insignificant.
(4) Consolidated fiscal year under review (April 1, 2013 to March 31, 2014)
Loss on reduction of fixed assets is direct reduction of acquisition cost related to the subsidies for facilities discussed in (2).

Tax effects
3,275
65
3,340
33
3,373

Other comprehensive income
2,426
0
2,426
8,873
32
(2) Dividends whose basis date belongs to the fiscal year ended March 31, 2014, but effective
(Notes to consolidated statements of changes in net assets)
date of dividends falls in the fiscal year ending March 31, 2015.
1. Issued shares
Class of shares
Resolution
Common stock (shares)
April 1, 2013
427,122,966
Increase
Decrease
March 31, 2014
427,122,966
Annual general meeting

of shareholders held on
June 27, 2014
Class of shares
Source of dividends
Total dividends (Millions of yen)
2. Treasury stock
Class of shares
Common stock (shares)
April 1, 2013
1,022,875
Increase
2,786
Decrease
65,698
March 31, 2014
959,963
Note: Breakdown of the increase in the number of treasury stock (common stocks) is as follows:
Increased shares by purchasing the financial shares
2,771 shares
Changes in the Companys percentage holdings in affiliates resulted in a decrease of 15 treasury shares
Cash dividends per share

Basis date
Effective date
None
Deposits
Class of shares
Total
Common stock
14,500
9,382
Cash dividends per share
34
22
Effective date
150,341
(131)
208,316
(37,000)
321,524
Assets and liabilities associated with finance lease transactions that were recorded in the fiscal
Board of Directors
meeting held on
October 31, 2013
Total dividends (Millions of yen)

Basis date
2014
Deposits with original maturities of more than 3 month
Common stock
June 29, 2014
Millions of yen
Time deposits with original maturities of more than 3 months
Resolution
34
March 31, 2014
dated balance sheets as follows:
Annual general meeting

of shareholders held on
June 27, 2013
14,500
1. Cash and cash equivalents at the end of the period are reconciled to items on the consoli-
3. Items related to share options
(1) Dividends paid in the fiscal year ended March 31, 2014
Retained earnings
(Notes to consolidated statements of cash flows)
Breakdown of the decrease in the number of treasury stockholders (common stocks) is as follows:
Treasury stocks (the Companys shares) sold by affiliated companies, which belong to the Company

65,698 shares
4. Cash dividends
Common stock
March 31, 2013 September 30, 2013

June 28, 2013 November 29, 2013
year ended March 31, 2014 amounted to 283 million, respectively.
33
(3) Lease payments and depreciation equivalent:
(Lease transactions)
Finance lease transactions that do not transfer ownership prior to the first year of application of
Millions of yen
2014
accounting standards for lease transactions

(As a lessee)
Lease payments
186
(1) Pro forma information regarding acquisition cost, accumulated depreciation and net book
Depreciation equivalent
186
value of lease assets was as follows:

Millions of yen
2014
The depreciation equivalent amount of the leases is calculated using the straight line method
Acquisition cost equivalent

1,133
Others (property, plant and equipment)

Total
516
969
426
1,396
164
89
1. Finance lease transactions

(As a lessee)
(1) Lease assets
Property, plant and equipment
Primarily, large-scale computing and peripheral equipment, and molds
253
(2) Method of depreciating lease assets
(2) Future minimum lease payments equivalent:

Millions of yen
2014
Due within one year
99
Due after one year
154
Total
value of zero.
Finance lease transactions that do not transfer ownership
Net book value equivalent
Total
over lease period, which corresponds to the number of years of useful life, with a residual
1,650
Accumulated depreciation equivalent
Total
(4) Method of calculating depreciation equivalent amount for leases:
253
The amounts equivalent to the acquisition cost of lease assets and future minimum lease payments are calculated
based upon the inputted interest expense method because future minimum lease payments account for only a small
proportion of property, plant and equipment.
Straight line method over lease period, which corresponds to the number of years of useful
life, with a residual value of zero
2. Operating lease transactions
(As a lessee)
Future minimum lease payments:
Millions of yen
2014
Due within one year
Due after one year
Total
358
1,130
1,488
34
(As a lessor)
risk involved in foreign currency denominated trade payables and debts is hedged using
Future minimum lease income:
forward foreign exchange contracts, etc.

Millions of yen
2014
Due within one year
76
Due after one year
628
Total
705
(3) System for managing risks related to financial products

With regard to trade liabilities, the Company manages transactions for each business partner
by payment due date and balance. Market prices on investment securities are periodically
checked and reported to the Board of Directors.
Reports on the Groups status on bank loans are submitted to the Board of Directors.
(Financial instruments)
Fiscal year ended March 31, 2014
The counterparties to all such transactions are highly credible banks, therefore the credit
risk is extremely low. These transactions are engaged in based on internal regulations and
in-house rules approved by the Board of Directors, and are reported on a regular basis to the
1. Financial instruments
Board of Directors and other important meetings.
(1) Policies on financial instruments

The Daihatsu Group raises funds through borrowings from banks and other financial
2. Fair value of financial instruments
institutions for such purposes as sales financing and the acquisition of property, plant and
Fair values as of March 31, 2014 (the end of the fiscal year ended March 31, 2014) and differ-
equipment. Temporary surpluses are placed in short-term deposits with its parent company,
ences between fair values and consolidated balance sheet amounts are as follows:
Millions of yen
Toyota Motor Corporation, and banks and other financial institutions. Derivative transactions
are used to hedge exchange rate fluctuation risks on trade liabilities and financial obligations
denominated in foreign currencies. The Company does not engage in speculative trading.
(2) Financial instrument content and risk
Trade notes, accounts receivable and electronically recorded monetary claims-operating,
which are claimable assets, are subject to customer credit risk. Investment securities, most
of which are equity securities held to cement operations with business partners, are subject
to price fluctuation risk.
Trade notes and accounts payable, which are trade liabilities, are payable within one year.
Bank loans, which are taken out to fund working capital and capital investment, are subject to interest rate fluctuation risk in line with changes in market and credit conditions. Some
of these are denominated in foreign currencies and are exposed to foreign exchange rate
fluctuation risk and interest rate fluctuation risk, which, however, are hedged using derivative
trading (interest-rate and currency swap transactions).
As derivative transactions are used to hedge the risk of future exchange rate fluctuations,
(1) Cash on hand and in banks

(2) Deposits
(3) Trade notes and accounts receivable
(4) Electronically recorded monetary claims-operating
(5) Investment securities
(6) Long-term loans receivable
Total assets
(1) Trade notes and accounts payable
(2) Electronically recorded monetary claims
(3) Short-term debt
(4) Accrued Income taxes
(5) Long-term debt
Total liabilities
Derivative transactions
Carried on
consolidated
balance sheet
Fair value
Difference
150,341
208,316
309,786
6,159
52,915
845
728,365
214,708
66,493
113,901
22,353
59,805
477,262
(63)
150,341
208,316
301,881
6,159
48,339
845
715,883
214,708
66,493
113,901
22,353
60,009
477,466
(63)
(7,905)
(4,576)
(12,482)
204
204
Note 1. Method of calculating fair values of financial instruments and matters related to securities and derivative transactions
35
Assets
Note 3. E
xpected redemption amounts of financial obligations with maturities and securities after the balance sheet date.
Millions of yen
(1)
Cash on hand and in banks, (2) Deposits and (4) Electronically recorded monetary
claims-operating
As settlement terms on these items are short, and their fair values are nearly equal to their
book values, their book values are taken as their fair values.
Type
1 year or less

Trade notes and accounts receivable
(3) Trade notes and accounts receivable
Electronically recorded monetary claims-operating
Fair value is calculated by grouping these receivables by period and discounting each to their
Long-term loans receivable
present value by a rate that takes into account their periods to maturity and credit risk.
(5) Investment securities
Quoted prices on securities exchanges are taken as fair value.
Total
Fair value is calculated by discounting these instruments to their present value, adding a
percentage for the credit spread to the appropriate indicator.
More than
5 years to
10 years
More than
10 years
150,341
216,999
91,440
1,347
6,159
243
602
373,743
92,043
1,347
Note 4. E
xpected repayment amounts of debt falling due after the consolidated balance sheet date.
Millions of yen
For details on investment securities, refer to the section entitled (Securities).

(6) Long-term loans receivable
More than
1 year to
5 years
More than
1 year to
2 years
More than
2 years to
3 years
More than
3 years to
4 years
More than
4 years to
5 years
More than
5 years
Type
1 year or less
Short-term debt
91,704
Long-term debt
22,196
27,081
31,236
1,114
373
113,901
27,081
31,236
1,114
373
Total
Liabilities
(1)
Trade notes and accounts payable, (2) Electronically recorded monetary claims,
(3) Short-term debt and (4) Accrued income taxes
(Securities)
As settlement terms on these items are short, and their fair values are nearly equal to their
book values, their book values are taken as their fair values.
1. Other securities
Millions of yen
(5) Long-term debt

The fair value of long-term debt is determined based on the present value, etc. of the total
amount of principal and interest discounted by the assumed interest rate that would be
charged for similar new borrowing.
Derivative transactions
For details on derivative transactions, refer to the section entitled (Derivative transactions).
Note 2. As unlisted equity securities (value stated in the consolidated balance sheets of 43,102 million) have no quoted
market value and their fair value is not readily available, they are not included in (5) Investment securities.
Type
Securities whose carrying value
exceeds their acquisition cost:
Stocks
Consolidated
balance sheet
amount
Acquisition cost
Difference
39,701
11,424
28,277
39,701
11,424
28,277
272
377
(105)
Subtotal
Securities whose carrying value does
not exceed their acquisition values:
Stocks
Subtotal
Total
272
377
(105)
39,973
11,801
28,171
Note: The market values of listed marketable securities are principally determined by closing prices on the Tokyo Stock
Exchange.
36
(Interest rate and currency related)
2. Other securities sold in the fiscal year ended March 31, 2014
Millions of yen
Category
Millions of yen
Proceeds from sales
Total
gain on sales
Total
loss on sales
36
22
36
22
Stocks
Total
Hedge accounting
method
Integrated
handling of
interest rate
swap (special
handling and
allotment
handling)
(Derivative transactions)
1. Derivative transactions for which hedge accounting is not applied
(Currency-related)
Type
Transactions
other than
market
transactions
Over 1 year
of contractual
amount
Fair value
Valuation
gains or losses
Over 1 year
of contractual
amount
Fair value
Long-term debt
1,829
1,829
(Note)
Purchased yen
Long-term debt
2,187
2,187
(Note)
4,017
4,017
Note: The market value of those based on the integrated handling of interest rate and currency swaps (special handling
and allotment handling) is handled together with long-term debt, the object of hedging, and is therefore stated by
including it in the market value of the long-term debt.
Forward exchange contracts

Purchased US dollars
4,425
(7)
(7)
Purchased Thai bahts
666
(3)
(3)
1,156
(38)
(38)
6,248
(48)
(48)
Purchased yen
Total
Note: Fair value is determined based on, among others, the prices reported by the financial institutions that are the counterparties to the transactions.
Forward
exchange
contract
principle handling
Type
Forward exchange
contract
Trade notes
transactions
and accounts
Purchased yen
payable
Contractual
amount
1. Outline of the adopted retirement benefit plan

The Company and its consolidated subsidiaries have adopted the defined benefit plan and the
defined contribution plan. As the defined benefit plan, the corporate pension fund system, the gen-
and the general establishment welfare pension fund systems (all of them are multiple-employer
Millions of yen
Main hedge
coverage
Fiscal year under review (from April 1, 2013 to March 31, 2014)
The retirement benefit trust is established for some of the corporate pension fund systems
(Currency-related)
Hedge accounting
method
(Retirement benefits)
eral establishment welfare pension fund system and the retirement allowance plan are established.
2. Derivative transactions for which hedge accounting is applied
Total
Type
Contractual
amount
Interest rate and

currency swap
transactions
Fixed payments
and variable
receipts
Purchased
U.S. dollar
Total
Millions of yen
Contractual
amount
Main hedge
coverage
Over 1 year
of contractual
amount
systems), which are the defined benefit corporate pension plans (all of them are funding-type
Fair value
plans), and lump-sum allowances and pensions are paid based on the years of service and
job qualifications, etc. Retirement allowances are paid based on the years of service and job
qualifications, etc. under the retirement allowance plan. (This is a non-funding plan. However, as
6,840
(112)
6,840
(112)
Note: Fair value is determined based on, among others, the prices reported by the financial institutions that are the counterparties to the transactions.
a result of the establishment of the retirement benefit trust, part of it is a funding plan.)

Retirement benefit liability and retirement benefit expenses are calculated using the simplified
method for the defined benefit corporate pension plan and the retirement allowance plan of
some of the consolidated subsidiaries.
37
(d) Table of adjustment of the starting balance and term-end balance of retirement benefit liabil-
2. Defined benefit plan

(a) Table of adjustment of the starting balance and term-end balance of retirement benefit liability (excluding plans using the simplified method)
ity and pension assets and retirement benefit liability and assets for retirement benefits that
are recorded on the consolidated balance sheet (including the multiple-employer system)
Millions of yen
Starting balance of retirement benefit liability

Service cost
Interest cost
Amount of differences in actuarial calculations
Amount of paid retirement benefits
Accrued amount of past service costs
Others
Term-end balance of retirement benefit liability
2014
131,443
5,800
1,831
1,770
(5,119)
(343)
(283)
135,097
(b) Table of adjustment of the starting balance and term-end balance of pension assets (excluding plans using the simplified method)
Millions of yen
2014
Retirement benefit liability for funding plan
Pension assets
136,207
(105,757)
30,450
Retirement benefit liability for non-funding plan
52,362
Net amount of liabilities and assets recorded on

consolidated balance sheet
82,813
Retirement benefit liability
83,265
Assets for retirement benefits

Net amount of liabilities and assets recorded on
consolidated balance sheet
(452)
82,813
Note: Including plans to which the simplified method is applied.
Millions of yen
Starting balance of pension assets

Expected yield on investment
Amount of differences in actuarial calculations
Amount of employer contributions
Others
Term-end balance of pension assets
2014
65,397
861
5,442
6,867
(3,605)
(50)
74,913
(c) Adjustment of the starting balance and term-end balance of retirement benefit liability of
plans using the simplified method (including the multiple-employer system)
Millions of yen
2014
Starting balance of retirement benefit liability
25,402
Retirement benefit expenses
(598)
(800)
Amount of contributions to the plan

Term-end balance of pension benefit liability
(1,374)
22,628
(e) Retirement benefit expenses and their breakdown

Millions of yen
2014
Service cost
5,800
Interest cost
1,831
Expected yield on investment

Amount of differences in actuarial calculations, which was treated
as cost
Amount of past service cost, which was treated as cost
Retirement benefit expenses calculated using the simplified method
(including the multiple-employer system)
Retirement benefit expenses for the defined benefit plan
(861)
3,355
(447)
(598)
9,079
38
(f) Accumulated amount of adjustment for retirement benefits
(Tax effect accounting)
The breakdown of items (before the deduction of the tax effect) recorded as the accumulated
1. The main components of deferred tax assets and liabilities are as follows:
Millions of yen
amount of adjustment for retirement benefits is as shown below.
2014
Millions of yen
Deferred tax assets:
2014
Unrecognized past service cost
(5,434)
Differences in unrecognized actuarial calculations

Total
26,024
20,590
Net defined benefit liability

Accrued expenses
Deferred expenses for sales promotion, etc.
under the corporate income tax law
(g) Matters regarding pension assets
Allowance for doubtful accounts
(i) Major breakdown of pension assets
Others
The ratio of major assets to total pension assets is as shown below.

Bonds
Subtotal
39%
Stock
35
General accounts
19
Others
Total
100%
Note: Total pension assets include 10% of the retirement benefit trust, which is established for the corporate pension
plan.
28,434
19,872
1,332
4,318
442
10,031
64,433
Less valuation allowance

Total deferred tax assets
(74)
64,358
Deferred tax liabilities:

(10,015)
Reserve for advanced depreciation of property, plant and equipment
(4,420)
Others
(5,511)
Total deferred tax liabilities
(19,947)
(ii) Method of determining the expected long-term yield on investment
Net deferred tax assets
To determine the expected long-term yield on investment for the pension assets, the current
Note: Net deferred tax assets for the fiscal year ended March 31, 2014 are included in the following consolidated balance
sheet line items.
allocation and expected allocation of pension assets and the current and expected long-
Millions of yen
term yield for various assets constituting the pension assets were taken into consideration.
2014
Current assetsDeferred tax assets
(h) Matters regarding calculation bases for actuarial calculations
Fixed assetsDeferred tax assets
Major calculation bases for actuarial calculations at the end of the fiscal year under review
Current liabilitiesDeferred tax liabilities
Discount rate
Predominantly 1.4%
Expected long-term yield on investment
Predominantly 1.4%
3. Defined contribution plan

The amount of contributions required for the defined contribution plans of the Company and its
consolidated subsidiaries is 1,303 million.
44,410
Long-term liabilitiesDeferred tax liabilities
28,672
18,270
(2,532)
39
2. Main components of the significant differences between the statutory tax rate and the
(Asset retirement obligations)

effective tax rate after adjustments:

%
2014
Statutory tax rate
37.8%
This note has been omitted because there is little significance.
(Adjustments)
Equity in earnings (losses) of affiliates
(1.5)
Difference in effective tax rate for overseas subsidiaries
(4.8)
Tax credit
(2.2)
Entertainment expenses and others
0.2
Valuation allowance
Adjustment to reduce the ending balance of
deferred tax assets due to change in tax rates
(0.2)
Others
1.9
Effective tax rate after adjustments
(Investment and rental property)

As the amount of investment and rental property owned by the Company is insignificant, this
note has been omitted.
1.4
32.6%
(Segment information)
1. Overview of reportable segments
The Companys reportable segments are constituent units for which separate financial informa-
3. Revision of the amount of deferred tax assets and deferred tax liabilities due to a
change in the rate of corporation tax, etc.
The Act on Partial Amendment of the Income Tax Act, etc. (No. 10 law of 2014) was promulgated on March 31, 2014, and the special corporation tax for reconstruction will not be levied in
fiscal years starting on and after April 1, 2014.
Accordingly, the statutory effective tax rate used for the calculation of deferred tax assets
and deferred tax liabilities for the fiscal year under review was changed from 37.8% for the
previous fiscal year to 35.4% for temporary differences that are expected to disappear in the
fiscal year beginning April 1, 2014.
As a result, the amount of deferred tax assets (amount after the deduction of deferred tax
liabilities) decreased 2,181 million, and the amount of adjustment of corporation tax, etc.,
which is recorded in the fiscal year under review, increased 2,181 million..
tion can be gathered and are the subject of regular scrutiny by the Board of Directors for the
purposes of deciding management resource allocations and assessing business performance.
The Daihatsu Group is engaged primarily in business activities consisting of the manufacture
and sale of automobiles and has built organizations for manufacturing and selling automobiles
and automobile parts in Japan and other countries, as well.
The Company, therefore, consists of two geographic reportable segments the domestic
segment and the overseas segment underpinned by separate manufacturing and sales
organizations.
40
2. Methods for calculating sales, income, and asset amount by reportable segment
The accounting treatments used for the Companys reportable segments are the same as
4.
Reconciliation of differences between total amounts of reportable segments and
amounts appearing in the consolidated financial statements
those discussed in the Significant Accounting Policies Forming the Basis of Presentation of the

Millions of yen
Consolidated Financial Statements.

Segment income figures are based on operating income figures and inter-segment sales and
transfers are based on market prices.

As stated in the change of accounting policy, the revenues and costs of foreign subsidiaries, etc. were converted into yen using the foreign exchange rate on the date of closing of the
relevant foreign subsidiary, etc. However, the above method was changed to the method of
conversion into yen using the average foreign exchange rate for the fiscal year from the fiscal
year under review.
Income
Amount
Total of reportable segments
146,695
Elimination between segments
48
Operating income of consolidated financial statements
146,743
Millions of yen
Assets
Amount
Total of reportable segments
1,465,340
Elimination between segments
The effect of this on the information on the sales and profits of each reporting segment for
(15,798)
Assets of consolidated financial statements
1,449,542
the previous fiscal year is negligible.

Millions of yen
3. Information about sales, income, assets and other items by reportable segment
Others
Millions of yen
Domestic
Overseas
Depreciation
Total
Net sales
Sales to external customers
Internal sales or
transfers between segments
Total
Segment income
Segment assets
1,262,947
650,312
1,913,259
125,185
43,006
168,191
1,388,132
693,319
2,081,451
85,185
61,509
146,695
1,122,182
343,158
1,465,340
50,271
16,476
66,747
54,077
54,077
65,640
31,872
97,513
Others
Depreciation
Amortization of goodwill
Investment for affiliates accounted
for by the equity method
Increase in property, plant and
equipment and intangible fixed assets
Amortization of goodwill
Investment for affiliates accounted for
by the equity method
Increase in property, plant and
equipment and intangible fixed assets
Total of reportable
segments
Adjustment
Carried on
consolidated
financial statements
66,747
66,747
54,077
54,077
97,513
97,513
41
Related information
Information on impairment loss of fixed assets by reportable segment

Millions of yen
1. Information by product and service

Sales to external customers of individual finished products and services accounted for more
Impairment loss
Domestic
Overseas
Elimination or total
Total
1,793
1,793
than 90% of net sales reported in the consolidated financial statements. This note has been
omitted.
Information on unamortization of goodwill by reportable segment

2. Information by region
(1) Net sales
There is nothing to report.

Millions of yen
Japan
Indonesia
Malaysia
Others
Total
1,229,325
429,018
223,806
31,110
1,913,259
Information on accrual profit of negative goodwill by reportable segment

Note: Net sales are reported based on the countries or regions in which customers are located.
(2) Property, plant and equipment
This note has been omitted because there is little significance.

Millions of yen
Japan
Others
Total
352,007
115,983
467,991
3. Information by Major Customer

Millions of yen
Name of customer
Net sales
Related segment name
Toyota Motor Corporation
257,159
Domestic
PT. Toyota Motor Manufacturing Indonesia
246,665
Overseas
Perodua Sales Sdn. Bhd.
225,380
Overseas
42
Related party information

1. Related party transaction
Parent company and major shareholders, etc.
Type
Name of related
company
Address
Common stock/
Investments in
capital
Millions of yen
Parent Company
Toyota Motor
Corporation
Toyota, Aichi
Prefecture
397,049
Principal
business
Owning (or owned)

shares with
voting rights
Business
relationship
Contents of
transaction
Account
Millions of yen
(Owned)
Automobile
Directly 51.37
manufacturing Indirectly 0.13
Amount of
transaction
Provision of
consigned
vehicles and
OEM vehicles
Concurrent
directors, etc.
Balance at year-end
Millions of yen
257,159
Electronically
recorded
monetary
claims-operating, accounts
receivable
and accounts
receivable-other
33,475
Purchase of
automobile parts
97,664
Accounts payable, accrued

expenses, and
other
21,590
Deposits for
cash management system
200,570
Deposits
208,316
Sales of
consigned cars,
and others
Notes: 1. Amount of transaction stated above does not include consumption taxes, while balance at year-end includes consumption taxes.

2. Terms of transactions and decision-making policy of the terms
(a) The sales prices for consigned cars are determined, in the same way as terms of ordinary transactions, by negotiation based on our proposed price while paying due consideration to the market prices.
(b) The purchase prices of automobile parts are determined, in the same way as terms of ordinary transactions, by negotiation while paying due consideration to the given quotes and market prices.
(c) The interest rate of the deposits for cash management system is determined by considering the market interest rate. The amounts of transaction recorded are the average balances during the period.
43
Companies under the common parent company and subsidiaries of other affiliates of the consolidated financial statements submitting company
Type
Parent
companys
subsidiary
Name of related
company
PT. Toyota
Motor
Manufacturing
Indonesia
(Toyota Motor
Corporations
subsidiary)
Address
Common stock/
Investments in
capital
Thousands of
Indonesian rupiahs
Jakarta,
Indonesia
RP 19,523,503
Principal
business
Owning (or owned)

shares with
voting rights
Business
relationship
Contents of
transaction
Automobile
manufacturing
Amount of
transaction
Account
Millions of yen
Provision of
consigned
vehicles and
OEM vehicles
Sales of
consigned cars,
and others
246,665
Balance at year-end
Millions of yen
Accounts
receivable
9,017

(a) The sales prices for consigned cars are determined, in the same way as terms of ordinary transactions, by negotiation based on our proposed price while paying due consideration to the market prices.
Non-consolidated subsidiaries and affiliates, etc.

Type
Name of related
company
Address
Common stock/
Investments in
capital
Principal
business
RM
Affiliate
(including
affiliates
subsidiary)
Perodua Sales
Sdn. Bhd.
(subsidiary of
Perusahaan
Otomobil Kedua
Sdn. Bhd.)
Shah Alam,
Malaysia
RM 10,000,000
Owning (or owned)

shares with
voting rights
Business
relationship
Contents of
transaction
Sales of
automobiles
Indirectly 20.93
Amount of
transaction
Account
Millions of yen
Provision of
vehicles
Concurrent
directors, etc.
Sales of
automobiles
225,380
Balance at year-end
Millions of yen
Accounts
receivable
22,092

(a) The sales prices of automobiles, etc. are determined, in the same way as terms of ordinary transactions, by negotiation based on our proposed price while paying due consideration to the market prices.

2. Notes regarding the parent company or affiliated companies
(a) Information regarding the parent company Toyota Motor Corporation (Listed on the Tokyo Stock Exchange, Nagoya Stock Exchange, Fukuoka Stock Exchange, Sapporo Stock Exchange, New
York Stock Exchange and the London Stock Exchange)
(b) Overview of financial information of important affiliated companies
There is nothing to report.
44
(Per share information)
(Subsequent events)
Yen
On May 28, 2014, the Company decided to incorporate a joint corporation in Malaysia based
2014
on the resolution of the board of directors of the Company and Perusahaan Otomobil Kedua
Net assets per share
1,293.03
Net income per share
196.41
Notes: 1. Diluted net income per share is not listed in the above since there was no potential share dilution.

2. Net income per share is calculated based on the following items:
Net income
1. Purpose of incorporation of subsidiary
Millions of yen
The Company has worked on the structural reform of local business in Malaysia, an important
2014
overseas business base, in anticipation of intensifying international competition. Perodua Global
83,698
Manufacturing Sdn. Bhd., a subsidiary of the Company, plans to begin operating a new plant
Net income for common stocks
83,698
around the middle of 2014 for the entire Daihatsu Group to strongly promote structural reform,
Average number of issued and outstanding common stocks

during the fiscal year-end (thousand shares)
426,147
Amount not attributable to common stocks
Sdn. Bhd., an equity method affiliate of the Company.
not only for vehicles but also for automatic transmissions and engines, and increase speed to
improve international competitiveness.
3. Net assets per share is calculated based on the following items:

Millions of yen
2014
Total net assets
Amount deducted from total net assets
(Of the above amount, minority interests)
Total net assets for common stocks
Number of common stocks at the fiscal year-end used for
the calculation of the net assets per share (thousand shares)
665,617
114,577
(114,577)
551,040
2. Profile of the company to be incorporated

Name
Not yet decided
Location
Malaysia
Representative
Business activities
Not yet decided

Manufacture and sale of automobile engines
Development, design, manufacture and sale of
engine production facilities
Capital
Major shareholders and shareholding ratio
165 million Malaysian Ringgit

Daihatsu Motor Co., Ltd. 51%
Perusahaan Otomobil Kedua Sdn. Bhd. 49%
Incorporation
End of July 2014 (planned)
426,163
45
Consolidated supplementary schedule
Others
Quarterly information for the year ended March 31, 2014
Schedule of Borrowings
Millions of yen
Category
As of April 1, As of March
2013
31, 2014
Average
interest rate
Short-term debt
88,766
91,704
0.30
27,453
22,196
0.79
1,803
448
5.15
49,089
59,805
0.85
514
449
2.34
April 2015 to
March 2019
April 2015 to
January 2029
167,628
174,604
Current portion of long-term debt

Current portion of lease obligations
Long-term debt (excluding current portion)
(Note 2)
Lease obligations
(excluding current portion) (Note 2)
Subtotal
Millions of yen
Repayment
period
Millions of yen
Long-term debt
Lease obligations
More than
2 years to 3 years
More than
3 years to 4 years
Second quarter
(April 1. 2013 to
September 30,
2013)
Third quarter
(April 1, 2013 to
December 31,
2013)
Fourth quarter
(April 1, 2013 to
March 31, 2014)
451,788
900,168
1,353,577
1,913,259
Income before income taxes
46,310
76,338
106,895
161,701
Net income
23,277
36,756
51,237
83,698
54.63
86.26
120.24
196.41
Net income per share (Yen)
Accounting period
Net income per share
First quarter
(April 1, 2013 to
June 30, 2013)
54.63
Yen
Second quarter
Third quarter
(July 1, 2013 to (October 1, 2013
September 30, to December 31,
2013)
2013)
31.63
33.98
More than
4 years to 5 years
27,081
31,236
1,114
373
203
78
38
28
Schedule of asset retirement obligations

Detailed information on asset retirement obligations as of April 1, 2013 and March 31, 2014 has
been omitted because the amounts recorded were less than 1% of the sum of liabilities and net
assets.
Net sales
First quarter
(April 1, 2013 to
June 30, 2013)
Notes: 1. Average interest rate refers to the weighted average interest rate on all the balance of total borrowings at the
end of the fiscal year.

2. Long-term debt and lease obligations (excluding current portion) coming due within five years of the balance
sheet date are as follows.
More than
1 year to 2 years
Cumulative period
Litigation
As described in 1 (5) and (3) of notes to consolidated balance sheets.
Fourth quarter
(January 1, 2014
to March 31,
2014)
76.17
Corporate Data
Corporate Data
46
Directors, Corporate Auditors and Executive Officers
(As of March 31, 2014)
Company Name
Daihatsu Motor Co., Ltd.
Founded
March 1,1907
Paid-in Capital
Chairman
Senior Managing Executive Officers
Koichi Ina
Shinichi Mukoda
Hitoshi Horii
Ichiro Yoshitake
Takamasa Kurinami
Tsuneo Itagaki
28,404 million
Number of Employees
President
11,788
Masanori Mitsui
Shares of Common Stock

Authorized
Executive Vice President
Tatsuya Kaneko
1,600,000,000 shares
Issued
427,122,966 shares
Number of Shareholders
(As of June 27, 2014)
Directors
29,576
(The share unit number was converted from 1,000 shares to 100 shares on October 1, 2013, based
on a Board of Directors resolution made on July 25, 2013).
Yasunori Nakawaki
(Senior Managing Executive Officer)
Naoto Kitagawa
Senior Executive Officers
Katsuhiro Ikoma
Yasumitsu Morita
Masahiko Kawatsu
Shigeharu Toda
Miki Ibaraki
Hajime Nishimura
Hiromasa Hoshika
Shareholders Register Manager
Mitsubishi UFJ Trust and Banking Corporation

Services Corporation
Sudirman Maman Rusdi

Masahiro Fukutsuka
Mitsubishi UFJ Trust and Banking Corporation

Corporate Agency Division
Makoto Irie
Executive Officers
Major Shareholders and Ownership
Advisor to the Board, Technical Executive
Toru Ueda
Takuji Izutani
Norihide Bessho
Saburou Yagi
Takashi Iida
Eiji Mishima
Name
Toyota Motor Corporation
Kosuke Shiramizu
Share holding ratio
(%)
51.19
The Master Trust Bank of Japan, Ltd. (Trust account)
1.95
Japan Trustee Services Bank, Ltd. (Trust account)
1.55
Ohgi Shokai Co., Ltd.
1.18
The Bank of New York 133522
1.03
Aioi Nissay Dowa Insurance Co., Ltd.
0.95
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
0.92
BBH Vanguard International Value Fund ARGA
0.83
Sumitomo Mitsui Banking Corporation
0.68
Mitsui Sumitomo Insurance Co., Ltd.
0.67
Full-time Corporate Auditor
Kunihiko Morita
Corporate Auditors
Kosuke Ikebuchi*1
Takashi Matsuura*1
Kenji Yamamoto*1, *2
*1 O
utside corporate auditors under 16, Article 2 of the
Corporate Law of Japan
*2 An independent auditor required by the Tokyo Stock
Exchange
Corporate Data
47
(As of June 30, 2014)
Major Domestic Offices/Sales and Service Network
Major Domestic and Overseas Affiliated Companies
Head Office
1-1, Daihatsu-cho, Ikeda, Osaka 563-8651, Japan
Phone: +81-72-751-8811
http://www.daihatsu.co.jp (Japanese)
http://www.daihatsu.com (English)
Name
Sales and Service Network

Domestic distributors: 60 companies (Consolidated: 35, Equity method affiliated: 4)
Domestic direct-sales offices for new cars: 686
Overseas distributors: 75 companies
Major Domestic Plants
Head (Ikeda) Plant
Shiga (Ryuo)
Plant
Kyoto Plant
Daihatsu Motor
Kyushu Co., Ltd.
Oita (Nakatsu)
Plant
Daihatsu Motor
Kyushu Co., Ltd.
Kurume Plant
Location
Ikeda,
Osaka
Gamo,
Shiga
O tokuni,
Kyoto
Nakatsu,
Oita
Kurume,
Fukuoka
Established
Product
May 1939
(Plant No. 1)
Press parts and press mold
May 1961
(Plant No. 2)
Boon / Passo*1 , bB*1 , Be-go / Rush*2 , Copen
April 1974
(Plant No. 1)
Engines, transmissions, cast components,

and utility engines, etc.
January 1989
(Plant No. 2)
Move / Stella*2 , Tanto
April 1973
Move / Stella* , Probox* , Succeed* , Sienta*
November
2004
(Plant No. 1)
Hijet Truck / Pixis Truck*2 / Sambar Truck*2 ,

Hijet Cargo / Pixis Van*2 / Sambar Van*2 ,
Atrai Wagon / Dias Wagon*2 , Mira / Pleo*2
November
2007
(Plant No. 2)
Mira e:S / Pixis Epoch*2 / Pleo Plus*2 , Mira Cocoa,

Tanto Exe / Lucra*2 , Move Conte / Pixis Space*2
August 2008
Engines, CVT parts
*1: Consigned vehicles *2: OEM vehicles
Major products and lines of business
Major consolidated subsidiaries
Tokyo Office
19-15, Shinbashi, 6-chome, Minato-ku, Tokyo 105-0004, Japan
Name
Location
Capital or
investment
(Millions of yen)
Development, design, manufacture, sale and repair of

automobiles, industrial and other vehicles, and parts
Manufacture, sale and repair of motors, machine
tools, and other types of machinery and parts
Daihatsu Motor Kyushu

Co., Ltd.
Nakatsu,
Oita
Aoi Machine Industry

Co., Ltd.
Konan,
Shiga
Akashi-Kikai Industry
Co., Ltd.
Kako, Hyogo
Daihatsu Metal Co.,

Ltd.
Kawanishi,
Hyogo
205
Manufacture of vehicle parts, diesel engine parts

for marine and land vehicles, hydraulic component,
construction machine parts, industrial machinery
Daihatsu Credit Co.,

Ltd.
Ikeda, Osaka
300
Sales finance of automobiles, leasing, and others
Daihatsu Transportation
Co., Ltd.
Ikeda, Osaka
30
Daihastu Tokyo Sales

Co., Ltd.
Chuo, Tokyo
490
Perodua Manufacturing
Sdn. Bhd.
Shah Alam,
Malaysia
PT Astra Daihatsu
Motor
Jakarta,
Indonesia
6,000
300
1,000
RM 140.0
million
RP 894.37
billion
Manufacture of stamped vehicle body parts and

parts for agricultural equipment
Manufacture of vehicle control device, engine
parts,transmission, hydraulic components
Cargo transportation, vehicle transportation, lease

of automobile, industry vehicle, other vehicles, and
related parts and supplies
Retail sale of automobiles and automobile parts
Manufacture of Myvi, Alza, Viva
Manufacture of Xenia / Avanza* 1, Terios / Rush* 2 ,
Gr an Ma x / Townace* 2 Lite ace* 2 , Luxio, Ayla /
Agya* 2 / Wigo* 2
Major affiliates accounted for by the equity method

Daihatsu Diesel Mfg.
Co., Ltd.
Osaka,
Osaka
2,434
Metalart Corporation
Kusatsu,
Shiga
2,143
Asano Gear Co., Ltd.
Osaka
Sayama,
Osaka
324
Manufacture and sale of marine diesel engines, land

diesel engines and industrial machines
Manufacture, sales and machining of precise,
closed-die-forged products for automobiles,
construction machinery, agricultural machinery,
ships, other industrial machinery, and making of
dies for hot forging and warm forging, and precise
dies for cold forging
Manufacture of precision gears, axles for car
chassis front and rear, gear boxes, transmissions,
and machine tools
*1: Consigned vehicles *2: OEM vehicles
Overseas Offices
Beijing Office
Kuntai International Mansion, Building 1, Yi No12 Chaowaistreet, Chaoyang, District,
Beijing, 100020, P.R.CHINA
Tel :+86-10-5905-1003~1004 Fax:+86-10-5905-1006

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Annual Report 2014

Sales Breakdown (fiscal year ended March 31, 2014)

Consigned Production and OEM

As a member of the Toyota

This business is responsible

Mini Vehicle Sales Share

Eight Consecutive Years

Year ended March 31, 2014

Eight Consecutive Years

(Years ended March 31, 2007 2014)

This business chiefly

In the year ended March 31, 2014

Including consigned production,

Perodua Manufacturing Sdn. Bhd., a

Making Cars with the Goal

(New record highs)

Record high for second

the local currency, continued to depreciate, the market recorded

The diverse mini vehicle

The ultimate in free

Building a solid foundation for business in Japan, Indonesia and Malaysia

heating up due to the sales of competing models of other automakers,

environment will further intensify with the liberalization of the

Medium- to Long-Term Approach

Expansion of business domain with compact car production

Accelerate and achieve domestic and overseas initiatives

Please see Close-Up and

Close-Up Daihatsus Advantage

Mira e:S Released

Reducing costs through production system innovation under the

Oita (Nakatsu) Plant No. 2 of Daihatsu Motor

Returning to the original idea of a mini vehicle

consolidating the production base, we achieved a

that brings back the essential character of the mini

Simple, Slim, and Compact Production System

Reduced transportation energy

Shiga Head (Ikeda) Plant

by ship from Shiga

Oita Oita (Nakatsu) Plant

Kurume Kurume engine plant

Comparison of Oita No. 1 and No. 2 plants

Overview of Engine Production Plant

Low-fuel Consumption e:S Technology: the Basis of

Engine that constricts energy loss to

Kurume Plant and Shiga No. 1 Plant

technology in light of modifications made to the

Transmission that constricts energy loss to

Uses idling function prior to

Body structure that is both light

Close-Up Daihatsus Advantage

Latest Evolution of e:S

Incorporates all of the latest e:S Technology, giving

By making the outer panel plastic,

integrated molding for the back door and

The Mir e:S, the

Development of e:S Technology

Focusing on evolution of energy management

Evolution of improvements made to the power train

Fuel economy reaches 29.0km/L, the top of its

First mini vehicle* 2 to be equipped with the

Adheres to more than the Mira e:S a design

Developed with same

quality improvement approach that brings out the

Market/Daihatsu Sales and Share in Indonesia

Market/Perodua Sales and Share

Consigned Production and OEM vehicles/Production