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Our Activities
All of the Sanden Group’s Business Operations Including
Core Activities Put Emphasis on Caring for the Environment.
Automotive Systems
Sanden has taken a long and careful look at the evolution of the automobile and is pursuing the
­development of next-generation, air-conditioning systems that are friendly to both people and the
­environment.
Sanden’s compressors for use in car air-conditioning systems have been adopted by many automotive manufacturers around the world, and Sanden is continuing to contribute as a leader in this field.
Commercial Store Systems
Sanden develops, manufactures, and markets refrigerated and freezer showcases used in convenience
stores and other kinds of stores as well as vending machines for products including beverages and
foods. The Company’s global market share in the field of vending machines is approximately 30%. We
offer vending machines and refrigerated showcases that employ environment-friendly CO2 refrigerant.
In 2011, we launched a non-freon, heat-pump vending machine with LED illumination, and it is now
the industry’s top product with respect to energy conservation.
Sanden has also been an industry leader in providing equipment maintenance and renovation services that customers require in connection with their store network expansion and store rebuilding
strategies.
Eco Systems and Other Products
Sanden develops, manufactures, and markets Eco Cute* CO 2 refrigerant heat-pump hot-water-­
supply-system products as well as wireless communication modems and other IT-related products
for our services.
Since 2010, the Company has been providing the Eco Cute technologies it has accumulated in
Japan, Australia, and European markets, and plans call for progressively expanding this business to
encompass global markets for hot-water-supply-system products.
* “Eco Cute” is the nickname given to CO2 natural refrigerant heat-pump hot-water-supply systems that have
been promoted by electric power companies and by companies manufacturing and marketing these units.
Notice Concerning the Transition to a Holding Company
Structure by Way of Corporate Separation and the Establishment
of Companies in Preparation for the Company Split
Sanden Corporation announced its decision to transition to a holding company structure
by way of an absorption-type company split on April 1, 2015 (planned).
At the same time, Sanden plans to change its name to Sanden Holdings Corporation
(planned) on April 1, 2015 and to maintain its status as a publicly listed company under
its new holding company structure.
Contents
Financial Highlights..................................... 1
Corporate Philosophy................................... 2
A Message from the President.................... 3
Segment Review.......................................... 6
Introduction of Sanden Group’s
CSR Activities............................................. 9
Topics........................................................ 10
Corporate Governance............................... 12
Summary of Selected Financial Data........ 13
Financial Section....................................... 14
Management’s Discussion & Analysis....... 14
Consolidated Balance Sheets.................... 18
Consolidated Statements of Income/
Consolidated Statements of
Comprehensive Income........................... 20
Consolidated Statements of
Changes in Net Assets............................. 21
Consolidated Statements of
Cash Flows.............................................. 22
Notes to Consolidated
Financial Statements............................... 23
Independent Auditor’s Report.................... 41
Board of Directors/
Auditors/Corporate Officers..................... 42
Sanden’s World Network........................... 43