MIRA INFORM REPORT
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Report Date : |
12.11.2011 |
IDENTIFICATION DETAILS
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Name : |
FUJI SEAL INTERNATIONAL, INC. |
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Formerly Known As : |
Fuji Seal Inc |
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Registered Office : |
3~5F, Shin-Osaka Front Bldg., 4-1-9, Miyahara, Yodogawa-ku, 532-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
18.10.1958 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is mainly engaged in the packaging business |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Japan |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
FUJI SEAL
INTERNATIONAL, INC.
3~5F, Shin-Osaka Front Bldg.
4-1-9, Miyahara
Yodogawa-ku, 532-0003
Japan
Tel: 81-6-63501080
Fax: 81-6-63503053
Web: www.fujiseal.co.jp
synthesis
Employees: 2,577
Company Type: Public Parent
Corporate Family: 2 Companies
Traded: Tokyo Stock Exchange: 7864
Incorporation Date:
18-Oct-1958
Auditor: Deloitte & Touche LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2011
Reporting Currency: Japanese
Yen
Annual Sales: 1,016.1 1
Net Income: 52.5
Total Assets: 897.4 2
Market Value: 600.3
(28-Oct-2011)
Business Description
FUJI SEAL
INTERNATIONAL, INC. is a company mainly engaged in the packaging business. The
Company is involved in the plan, proposition, development, manufacture and sale
of packaging systems with a focus on shrink labels, tackiness labels and soft
pouch. Through its subsidiaries, the Company is also involved in the
manufacture and sale of various packaging materials, the manufacture, provision
of technical support services and maintenance of automatic packaging machinery
and related equipments, the sale of parts of automatic packaging machinery, as
well as the logistics business including transportation, warehousing and the
provision of packaging materials, the manpower services business and the real
estate leasing business. For the three months ended 30 June 2011, FUJI SEAL
INTERNATIONAL, INC.'s revenues increased 2% to Y23.56B. The Company's net
income increased 5% to Y1.79B. Revenues reflect higher sales from Japan market.
The Company's net income also benifited from lower percentage of selling,
genral & administration expenses, increased interest income, decreased loss
on foreign exchange, as well as the the loss on adjustment for change of
assets.
Industry
Industry Containers and Packaging
ANZSIC 2006: 1522 - Paper Bag
Manufacturing
NACE 2002: 2112 - Manufacture
of paper and paperboard
NAICS 2002: 322222 - Coated
and Laminated Paper Manufacturing
UK SIC 2003: 2112 - Manufacture
of paper and paperboard
US SIC 1987: 2672 - Coated and
Laminated Paper, Not Elsewhere Classified
Key Executives
|
ame |
Title |
Source |
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Shigeko Okazaki |
Executive President, Representative
Executive Officer, President of Subsidiaries, Director |
Reuters |
|
Takayuki Ueda |
Executive Officer |
Reuters |
|
Noriyuki Kino |
Executive Officer |
Graham & Whiteside |
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Mitsuo Morimatsu |
Co-Executive Officer |
infoUSA |
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Rikio Furusawa |
Executive Officer, President of
Subsidiary, Director |
Reuters |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
Expansion / New Markets / New Units |
1 |
Fuji Seal International, Inc. to Establish New Subsidiary |
31-Mar-2011 |
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* number of significant developments within the last 12 months
new
|
Title |
Date |
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Fuji
Seal Intl 1H Grp Net Pft Y3.10B Vs Y3.15B Pft Yr Earlier |
8-Nov-2011 |
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Fuji
Seal Intl Expects This FY Group Net Profit Y4.68B |
8-Nov-2011 |
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Fuji
Seal Intl 1Q Grp Net Pft Y1.79B Vs Y1.71B Pft Yr Earlier |
4-Aug-2011 |
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Fuji
Seal Intl Expects This FY Group Net Profit Y4.68B |
4-Aug-2011 |
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Fuji
Seal Intl FY Grp Net Pft Y4.50B Vs Y5.09B Pft Yr Earlier |
12-May-2011 |
Financial Summary
As of 30-Jun-2011
Key Ratios Company Industry
Current Ratio (MRQ) 1.62 1.71
Quick Ratio (MRQ) 1.34 0.99
Debt to Equity (MRQ) 0.10 2.81
Sales 5 Year Growth 0.03 5.24
Net Profit Margin (TTM) % 5.24 6.22
Return on Assets (TTM) % 5.72 6.73
Return on Equity (TTM) % 9.53 17.15
Stock Snapshot
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Key IDSM Number: 776718
1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 85.69144
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.88
Corporate Overview
Location
3~5F, Shin-Osaka Front Bldg.
4-1-9, Miyahara
Yodogawa-ku, 532-0003
Japan
Tel: 81-6-63501080
Fax: 81-6-63503053
Web: www.fujiseal.co.jp
Quote Symbol - Exchange
7864 - Tokyo Stock
Exchange
Sales JPY(mil): 87,067.7
Assets JPY(mil) 74,376.7
Employees: 2,577
Fiscal Year End: 31-Mar-2011
Industry: Containers and Packaging
Incorporation Date: 18-Oct-1958
Company Type: Public Parent
Quoted Status: Quoted
Previous Name: Fuji Seal Inc
Executive President,
Representative Executive Officer,
President of Subsidiaries, Director: Shigeko
Okazaki
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Financial Information
· Home Page
· Investor Relations
· News Releases
Contents
· Industry Codes
· Business Description
· Financial Data
· Market Data
· Shareholders
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
7212 - Labour Supply Services
1522 - Paper Bag Manufacturing
2499 - Other Machinery and Equipment Manufacturing Not Elsewhere
Classified
NACE 2002 Codes:
2924 - Manufacture of other general purpose machinery not
elsewhere classified
2112 - Manufacture of paper and paperboard
7450 - Labour recruitment and provision of personnel
NAICS 2002 Codes:
561320 - Temporary Help Services
322221 - Coated and Laminated Packaging Paper and Plastics Film
Manufacturing
322222 - Coated and Laminated Paper Manufacturing
333993 - Packaging Machinery Manufacturing
US SIC 1987:
7363 - Help Supply Services
2671 - Packaging Paper and Plastics Film, Coated and Laminated
2672 - Coated and Laminated Paper, Not Elsewhere Classified
3565 - Packaging Machinery
UK SIC 2003:
2924 - Manufacture of other general purpose machinery not
elsewhere classified
2112 - Manufacture of paper and paperboard
7450 - Labour recruitment and provision of personnel
Business
Description
FUJI SEAL
INTERNATIONAL, INC. is a company mainly engaged in the packaging business. The
Company is involved in the plan, proposition, development, manufacture and sale
of packaging systems with a focus on shrink labels, tackiness labels and soft
pouch. Through its subsidiaries, the Company is also involved in the
manufacture and sale of various packaging materials, the manufacture, provision
of technical support services and maintenance of automatic packaging machinery
and related equipments, the sale of parts of automatic packaging machinery, as
well as the logistics business including transportation, warehousing and the
provision of packaging materials, the manpower services business and the real
estate leasing business. For the three months ended 30 June 2011, FUJI SEAL
INTERNATIONAL, INC.'s revenues increased 2% to Y23.56B. The Company's net
income increased 5% to Y1.79B. Revenues reflect higher sales from Japan market.
The Company's net income also benifited from lower percentage of selling,
genral & administration expenses, increased interest income, decreased loss
on foreign exchange, as well as the the loss on adjustment for change of
assets.
More Business
Descriptions
· Production of shrink wrap including seals and labels
· Packaging and Labeling Services
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Corporate Family |
Corporate Structure News: |
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FUJI SEAL
INTERNATIONAL, INC. |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Yodogawa-ku |
Japan |
Containers and Packaging |
1,016.1 |
2,577 |
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Subsidiary |
Tokyo |
Japan |
Business Services |
250.0 |
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Executive report
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Board of
Directors |
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Director |
Director/Board Member |
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Executive Officer, President of Subsidiary, Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Executive President, Representative Executive Officer, President of
Subsidiaries, Director |
Director/Board Member |
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Executive Officer, President of Subsidiaries, Director |
Director/Board Member |
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Executive Officer, President of Subsidiaries, Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Executives |
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Executive President, Representative Executive Officer, President of
Subsidiaries, Director |
President |
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Co-Executive Officer |
Operations Executive |
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Co-Executive Officer |
Operations Executive |
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Co-Executive Officer |
Operations Executive |
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Executive Officer |
Administration Executive |
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Executive Officer |
Other |
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Executive Officer, President of Subsidiaries |
Other |
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Significant Developments
Fuji Seal
International, Inc. to Establish New Subsidiary Mar 31, 2011
Fuji Seal
International, Inc. announced that it has decided to establish a wholly owned
subsidiary, Fuji Seal Vietnam, Co., Ltd., which will be engaged in
manufacturing and sales of packaging materials, in May 2011.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
116.944303 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
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Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
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Revenue |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
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Total Revenue |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
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Cost of Revenue |
794.2 |
727.8 |
690.9 |
651.6 |
600.8 |
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Cost of Revenue, Total |
794.2 |
727.8 |
690.9 |
651.6 |
600.8 |
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Gross Profit |
221.9 |
201.6 |
165.4 |
153.0 |
153.5 |
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Selling/General/Administrative Expense |
53.7 |
50.3 |
65.0 |
64.9 |
61.2 |
|
Labor & Related Expense |
52.6 |
48.2 |
41.1 |
40.9 |
38.2 |
|
Total Selling/General/Administrative Expenses |
106.3 |
98.5 |
106.1 |
105.9 |
99.5 |
|
Research & Development |
24.6 |
19.1 |
- |
- |
- |
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Litigation |
- |
- |
- |
- |
0.0 |
|
Impairment-Assets Held for Use |
0.0 |
0.7 |
0.3 |
0.0 |
0.0 |
|
Impairment-Assets Held for Sale |
- |
0.0 |
0.8 |
0.0 |
- |
|
Other Unusual Expense (Income) |
4.8 |
4.0 |
3.9 |
5.9 |
0.1 |
|
Unusual Expense (Income) |
4.8 |
4.7 |
5.0 |
5.9 |
0.1 |
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Total Operating Expense |
929.9 |
850.0 |
802.0 |
763.4 |
700.3 |
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Operating Income |
86.2 |
79.4 |
54.3 |
41.2 |
53.9 |
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Interest Expense -
Non-Operating |
-1.2 |
-1.8 |
-1.6 |
-2.7 |
-2.0 |
|
Interest Expense, Net Non-Operating |
-1.2 |
-1.8 |
-1.6 |
-2.7 |
-2.0 |
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Interest Income -
Non-Operating |
0.5 |
0.1 |
0.2 |
0.2 |
0.2 |
|
Investment Income -
Non-Operating |
-1.4 |
-1.2 |
0.5 |
-1.7 |
5.5 |
|
Interest/Investment Income - Non-Operating |
-0.9 |
-1.1 |
0.7 |
-1.5 |
5.7 |
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Interest Income (Expense) - Net Non-Operating Total |
-2.2 |
-2.9 |
-0.9 |
-4.2 |
3.7 |
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Gain (Loss) on Sale of Assets |
-4.9 |
-3.0 |
-1.0 |
1.1 |
-0.3 |
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Other Non-Operating Income (Expense) |
1.7 |
1.1 |
1.9 |
1.1 |
0.0 |
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Other, Net |
1.7 |
1.1 |
1.9 |
1.1 |
0.0 |
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Income Before Tax |
80.8 |
74.7 |
54.3 |
39.1 |
57.3 |
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Total Income Tax |
28.3 |
19.9 |
19.4 |
17.8 |
27.0 |
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Income After Tax |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
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Minority Interest |
0.0 |
0.0 |
- |
- |
- |
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Net Income Before Extraord Items |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
Net Income |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
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Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
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Income Available to Common Incl Extraord Items |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
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Basic/Primary Weighted Average Shares |
28.1 |
28.1 |
28.9 |
29.5 |
30.1 |
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Basic EPS Excl Extraord Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Basic/Primary EPS Incl Extraord Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Diluted Net Income |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
Diluted Weighted Average Shares |
28.1 |
28.1 |
28.9 |
29.5 |
30.1 |
|
Diluted EPS Excl Extraord Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
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Diluted EPS Incl Extraord Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Dividends per Share - Common Stock Primary Issue |
0.41 |
0.32 |
0.30 |
0.26 |
0.26 |
|
Gross Dividends - Common Stock |
11.6 |
9.1 |
8.6 |
7.7 |
7.7 |
|
Interest Expense, Supplemental |
1.2 |
1.8 |
1.6 |
2.7 |
2.0 |
|
Depreciation, Supplemental |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Total Special Items |
10.4 |
8.7 |
7.3 |
7.0 |
2.1 |
|
Normalized Income Before Tax |
91.2 |
83.4 |
61.6 |
46.1 |
59.4 |
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Effect of Special Items on Income Taxes |
3.4 |
2.0 |
2.1 |
2.2 |
0.2 |
|
Inc Tax Ex Impact of Sp Items |
31.7 |
21.9 |
21.6 |
20.1 |
27.2 |
|
Normalized Income After Tax |
59.5 |
61.4 |
40.1 |
26.1 |
32.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
59.5 |
61.4 |
40.1 |
26.1 |
32.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.12 |
2.19 |
1.39 |
0.89 |
1.07 |
|
Diluted Normalized EPS |
2.12 |
2.19 |
1.39 |
0.89 |
1.07 |
|
Amort of Acquisition Costs, Supplemental |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Research & Development Exp, Supplemental |
24.6 |
19.1 |
17.4 |
17.6 |
17.6 |
|
Reported Operating Profit |
91.0 |
84.1 |
59.3 |
47.1 |
54.0 |
|
Reported Ordinary Profit |
90.6 |
82.3 |
60.3 |
44.0 |
57.3 |
|
Normalized EBIT |
91.0 |
84.1 |
59.3 |
47.1 |
54.0 |
|
Normalized EBITDA |
144.9 |
133.0 |
104.9 |
89.7 |
88.9 |
|
Interest Cost - Domestic |
1.7 |
1.7 |
1.5 |
1.5 |
1.3 |
|
Service Cost - Domestic |
1.3 |
1.5 |
1.2 |
1.3 |
1.5 |
|
Prior Service Cost - Domestic |
0.3 |
0.2 |
0.0 |
- |
- |
|
Expected Return on Assets - Domestic |
-1.3 |
-1.4 |
-1.4 |
-1.5 |
-1.1 |
|
Actuarial Gains and Losses - Domestic |
0.9 |
1.0 |
0.5 |
0.2 |
0.2 |
|
Transition Costs - Domestic |
0.0 |
3.9 |
0.0 |
- |
- |
|
Other Pension, Net - Domestic |
- |
- |
0.0 |
1.8 |
0.5 |
|
Domestic Pension Plan Expense |
2.9 |
6.9 |
1.8 |
3.3 |
2.3 |
|
Defined Contribution Expense - Domestic |
1.2 |
0.0 |
- |
- |
- |
|
Total Pension Expense |
4.1 |
6.9 |
1.8 |
3.3 |
2.3 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount Rate - Foreign |
5.80% |
5.80% |
6.25% |
6.00% |
6.00% |
|
Expected Rate of Return - Domestic |
0.00% |
1.00% |
1.00% |
1.00% |
1.00% |
|
Expected Rate of Return - Foreign |
8.50% |
6.25% |
8.50% |
8.50% |
8.50% |
|
Total Plan Interest Cost |
1.7 |
1.7 |
1.5 |
1.5 |
1.3 |
|
Total Plan Service Cost |
1.3 |
1.5 |
1.2 |
1.3 |
1.5 |
|
Total Plan Expected Return |
-1.3 |
-1.4 |
-1.4 |
-1.5 |
-1.1 |
|
Total Plan Other Expense |
- |
- |
0.0 |
1.8 |
0.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.88 |
93.44 |
98.77 |
99.535 |
118.075 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Cash & Equivalents |
95.1 |
58.4 |
60.4 |
49.8 |
26.6 |
|
Cash and Short Term Investments |
95.1 |
58.4 |
60.4 |
49.8 |
26.6 |
|
Accounts Receivable -
Trade, Gross |
233.2 |
237.4 |
213.4 |
231.6 |
199.4 |
|
Provision for Doubtful
Accounts |
-0.7 |
-0.8 |
-0.9 |
-1.1 |
-0.9 |
|
Trade Accounts Receivable - Net |
232.6 |
236.6 |
212.5 |
230.5 |
198.5 |
|
Total Receivables, Net |
232.6 |
236.6 |
212.5 |
230.5 |
198.5 |
|
Inventories - Finished Goods |
40.8 |
31.3 |
32.7 |
37.0 |
- |
|
Inventories - Work In Progress |
18.4 |
13.7 |
16.6 |
21.4 |
- |
|
Inventories - Raw Materials |
26.8 |
21.9 |
20.3 |
20.1 |
- |
|
Total Inventory |
86.1 |
66.9 |
69.6 |
78.5 |
60.8 |
|
Prepaid Expenses |
- |
1.9 |
2.2 |
2.0 |
1.8 |
|
Deferred Income Tax - Current Asset |
13.7 |
8.0 |
4.6 |
3.8 |
4.4 |
|
Other Current Assets |
33.6 |
11.1 |
12.0 |
21.8 |
17.1 |
|
Other Current Assets, Total |
47.3 |
19.1 |
16.6 |
25.6 |
21.5 |
|
Total Current Assets |
461.0 |
382.9 |
361.3 |
386.5 |
309.3 |
|
|
|
|
|
|
|
|
Buildings |
181.2 |
157.6 |
146.6 |
157.3 |
121.9 |
|
Land/Improvements |
60.5 |
48.9 |
46.0 |
43.8 |
39.9 |
|
Machinery/Equipment |
518.5 |
463.8 |
398.2 |
442.7 |
368.8 |
|
Construction in
Progress |
15.3 |
26.4 |
33.3 |
33.7 |
11.8 |
|
Leases |
2.8 |
2.6 |
1.5 |
0.0 |
- |
|
Other
Property/Plant/Equipment |
26.7 |
24.9 |
23.2 |
25.6 |
21.1 |
|
Property/Plant/Equipment - Gross |
805.1 |
724.2 |
648.9 |
703.0 |
563.5 |
|
Accumulated Depreciation |
-423.4 |
-360.5 |
-309.0 |
-326.9 |
-259.2 |
|
Property/Plant/Equipment - Net |
381.6 |
363.8 |
339.9 |
376.1 |
304.3 |
|
Goodwill, Net |
0.9 |
1.4 |
2.3 |
4.8 |
2.7 |
|
Intangibles, Net |
7.2 |
8.3 |
8.5 |
9.4 |
6.0 |
|
LT Investments - Other |
32.6 |
31.5 |
25.3 |
29.5 |
27.7 |
|
Long Term Investments |
32.6 |
31.5 |
25.3 |
29.5 |
27.7 |
|
Note Receivable - Long Term |
- |
0.3 |
0.3 |
0.3 |
0.3 |
|
Deferred Income Tax - Long Term Asset |
7.7 |
7.5 |
4.3 |
4.5 |
3.3 |
|
Other Long Term Assets |
6.3 |
7.3 |
5.8 |
9.1 |
9.7 |
|
Other Long Term Assets, Total |
14.0 |
14.8 |
10.1 |
13.6 |
13.0 |
|
Total Assets |
897.4 |
802.9 |
747.6 |
820.1 |
663.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
170.2 |
155.5 |
154.0 |
153.4 |
127.2 |
|
Accrued Expenses |
10.6 |
8.4 |
8.3 |
8.0 |
6.8 |
|
Notes Payable/Short Term Debt |
34.4 |
45.3 |
78.6 |
94.4 |
42.4 |
|
Current Portion - Long Term Debt/Capital Leases |
8.0 |
7.3 |
7.8 |
9.8 |
10.3 |
|
Income Taxes Payable |
10.1 |
15.3 |
10.9 |
3.9 |
12.7 |
|
Other Payables |
31.6 |
27.4 |
19.0 |
27.7 |
21.5 |
|
Deferred Income Tax - Current Liability |
0.0 |
0.0 |
0.0 |
0.2 |
0.1 |
|
Other Current Liabilities |
16.9 |
21.7 |
23.8 |
28.9 |
19.7 |
|
Other Current liabilities, Total |
58.6 |
64.4 |
53.7 |
60.7 |
54.0 |
|
Total Current Liabilities |
282.0 |
280.9 |
302.4 |
326.3 |
240.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
20.1 |
10.2 |
15.9 |
7.7 |
9.1 |
|
Capital Lease Obligations |
1.1 |
1.1 |
0.7 |
0.0 |
- |
|
Total Long Term Debt |
21.2 |
11.3 |
16.6 |
7.7 |
9.1 |
|
Total Debt |
63.7 |
63.9 |
103.0 |
111.8 |
61.8 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
11.7 |
2.2 |
1.0 |
2.0 |
1.3 |
|
Deferred Income Tax |
11.7 |
2.2 |
1.0 |
2.0 |
1.3 |
|
Pension Benefits - Underfunded |
15.2 |
15.4 |
11.7 |
7.8 |
8.9 |
|
Other Long Term Liabilities |
1.3 |
0.5 |
0.3 |
0.5 |
0.6 |
|
Other Liabilities, Total |
16.4 |
16.0 |
11.9 |
8.3 |
9.5 |
|
Total Liabilities |
331.3 |
310.3 |
331.9 |
344.3 |
260.6 |
|
|
|
|
|
|
|
|
Common Stock |
72.3 |
64.1 |
60.6 |
60.2 |
50.7 |
|
Common Stock |
72.3 |
64.1 |
60.6 |
60.2 |
50.7 |
|
Additional Paid-In Capital |
75.2 |
66.7 |
63.1 |
62.6 |
52.8 |
|
Retained Earnings (Accumulated Deficit) |
554.1 |
452.8 |
385.3 |
357.8 |
288.5 |
|
Treasury Stock - Common |
-46.3 |
-42.6 |
-40.3 |
-19.9 |
-0.7 |
|
Unrealized Gain (Loss) |
0.1 |
0.8 |
0.0 |
1.6 |
2.5 |
|
Translation Adjustment |
-80.7 |
-40.3 |
-44.6 |
18.7 |
12.8 |
|
Minimum Pension Liability Adjustment |
-8.5 |
-8.8 |
-8.5 |
-5.0 |
-4.1 |
|
Other Equity, Total |
-89.2 |
-49.2 |
-53.1 |
13.6 |
8.7 |
|
Total Equity |
566.1 |
492.6 |
415.7 |
475.9 |
402.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
897.4 |
802.9 |
747.6 |
820.1 |
663.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
28.1 |
28.1 |
28.1 |
29.4 |
30.1 |
|
Total Common Shares Outstanding |
28.1 |
28.1 |
28.1 |
29.4 |
30.1 |
|
Treasury Shares - Common Stock Primary Issue |
1.9 |
2.0 |
2.0 |
0.7 |
0.0 |
|
Employees |
2,577 |
2,483 |
2,368 |
2,512 |
2,327 |
|
Number of Common Shareholders |
3,918 |
3,909 |
3,995 |
4,360 |
4,405 |
|
Total Long Term Debt, Supplemental |
27.5 |
17.0 |
23.3 |
17.4 |
19.4 |
|
Long Term Debt Maturing within 1 Year |
7.4 |
6.8 |
7.5 |
9.8 |
10.3 |
|
Long Term Debt Maturing in Year 2 |
5.6 |
5.9 |
6.4 |
6.6 |
5.8 |
|
Long Term Debt Maturing in Year 3 |
11.1 |
4.1 |
5.5 |
0.8 |
3.2 |
|
Long Term Debt Maturing in Year 4 |
1.5 |
0.0 |
3.9 |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
2.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
16.7 |
10.1 |
11.9 |
7.5 |
9.0 |
|
Long Term Debt Maturing in 4-5 Years |
3.4 |
0.1 |
3.9 |
0.1 |
0.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Total Capital Leases, Supplemental |
1.7 |
1.6 |
1.1 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
0.7 |
0.5 |
0.3 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.6 |
0.5 |
0.2 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.3 |
0.4 |
0.2 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
0.1 |
0.2 |
0.2 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.1 |
0.0 |
0.1 |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.9 |
0.9 |
0.5 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.2 |
0.2 |
0.3 |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
39.6 |
36.8 |
38.0 |
41.6 |
32.6 |
|
Plan Assets - Domestic |
20.2 |
16.8 |
23.2 |
32.4 |
24.5 |
|
Funded Status - Domestic |
-19.4 |
-20.0 |
-14.8 |
-9.2 |
-8.1 |
|
Total Funded Status |
-19.4 |
-20.0 |
-14.8 |
-9.2 |
-8.1 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount Rate - Foreign |
5.80% |
5.80% |
6.25% |
6.00% |
6.00% |
|
Expected Rate of Return - Domestic |
0.00% |
1.00% |
1.00% |
1.00% |
1.00% |
|
Expected Rate of Return - Foreign |
8.50% |
6.25% |
8.50% |
8.50% |
8.50% |
|
Accrued Liabilities - Domestic |
-15.2 |
-15.4 |
-11.7 |
-7.8 |
-8.9 |
|
Other Assets, Net - Domestic |
12.7 |
13.4 |
12.2 |
7.0 |
3.8 |
|
Other Assets, Net - Foreign |
-8.5 |
-8.8 |
-9.1 |
-5.6 |
-4.6 |
|
Net Assets Recognized on Balance Sheet |
-10.9 |
-10.8 |
-8.6 |
-6.4 |
-9.7 |
|
Total Plan Obligations |
39.6 |
36.8 |
38.0 |
41.6 |
32.6 |
|
Total Plan Assets |
20.2 |
16.8 |
23.2 |
32.4 |
24.5 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
116.944303 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
80.8 |
74.7 |
54.3 |
39.1 |
57.3 |
|
Depreciation |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Depreciation/Depletion |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Amortization of Acquisition Costs |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Amortization |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Unusual Items |
9.1 |
3.5 |
3.1 |
1.2 |
0.3 |
|
Equity in Net Earnings (Loss) |
0.9 |
-1.8 |
-1.1 |
-0.3 |
-2.0 |
|
Other Non-Cash Items |
-0.4 |
3.6 |
1.9 |
1.4 |
0.0 |
|
Non-Cash Items |
9.5 |
5.3 |
3.9 |
2.3 |
-1.7 |
|
Accounts Receivable |
8.9 |
-10.1 |
-6.5 |
5.3 |
-4.7 |
|
Inventories |
-15.7 |
7.5 |
0.3 |
-5.0 |
-0.1 |
|
Accounts Payable |
-1.0 |
-2.8 |
9.3 |
5.5 |
-12.3 |
|
Accrued Expenses |
1.3 |
-0.4 |
0.4 |
-0.1 |
0.3 |
|
Taxes Payable |
-3.8 |
2.0 |
0.8 |
-0.2 |
-0.9 |
|
Other Operating Cash Flow |
-36.3 |
-24.7 |
-8.1 |
-25.4 |
-27.8 |
|
Changes in Working Capital |
-46.6 |
-28.6 |
-3.9 |
-19.9 |
-45.6 |
|
Cash from Operating Activities |
97.7 |
100.3 |
100.0 |
64.2 |
44.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-53.7 |
-45.9 |
-66.3 |
-54.4 |
-78.7 |
|
Purchase/Acquisition of Intangibles |
-1.6 |
-1.7 |
-1.8 |
-4.4 |
-1.4 |
|
Capital Expenditures |
-55.4 |
-47.6 |
-68.1 |
-58.8 |
-80.1 |
|
Acquisition of Business |
- |
- |
0.0 |
-7.5 |
0.0 |
|
Sale of Fixed Assets |
0.1 |
0.7 |
1.6 |
8.6 |
0.3 |
|
Sale/Maturity of Investment |
0.0 |
0.1 |
0.0 |
0.0 |
0.6 |
|
Purchase of Investments |
-0.3 |
-1.3 |
-0.2 |
-1.0 |
-1.1 |
|
Other Investing Cash Flow |
0.8 |
-1.5 |
2.3 |
1.3 |
-1.2 |
|
Other Investing Cash Flow Items, Total |
0.6 |
-2.0 |
3.7 |
1.3 |
-1.4 |
|
Cash from Investing Activities |
-54.7 |
-49.6 |
-64.4 |
-57.5 |
-81.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
0.0 |
0.0 |
|
Financing Cash Flow Items |
- |
- |
- |
0.0 |
0.0 |
|
Cash Dividends Paid - Common |
-9.9 |
-9.1 |
-8.8 |
-7.8 |
-6.4 |
|
Total Cash Dividends Paid |
-9.9 |
-9.1 |
-8.8 |
-7.8 |
-6.4 |
|
Sale/Issuance of
Common |
1.4 |
0.0 |
- |
- |
- |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
-19.9 |
-16.6 |
0.0 |
|
Common Stock, Net |
1.4 |
0.0 |
-19.9 |
-16.6 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
1.4 |
0.0 |
-19.9 |
-16.6 |
0.0 |
|
Short Term Debt Issued |
- |
- |
19.9 |
32.1 |
59.8 |
|
Short Term Debt
Reduction |
- |
- |
-10.4 |
-6.2 |
-41.0 |
|
Short Term Debt, Net |
-16.0 |
-40.8 |
9.5 |
25.9 |
18.8 |
|
Long Term Debt Issued |
17.5 |
0.0 |
16.3 |
7.9 |
7.7 |
|
Long Term Debt
Reduction |
-8.4 |
-8.6 |
-8.8 |
-12.6 |
-8.8 |
|
Long Term Debt, Net |
9.1 |
-8.6 |
7.5 |
-4.7 |
-1.1 |
|
Issuance (Retirement) of Debt, Net |
-6.9 |
-49.4 |
17.0 |
21.1 |
17.7 |
|
Cash from Financing Activities |
-15.4 |
-58.4 |
-11.7 |
-3.3 |
11.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
0.3 |
0.6 |
-0.3 |
2.0 |
|
Net Change in Cash |
26.2 |
-7.4 |
24.5 |
3.1 |
-23.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
56.6 |
59.6 |
30.6 |
23.8 |
46.6 |
|
Net Cash - Ending Balance |
82.8 |
52.1 |
55.1 |
26.9 |
23.3 |
|
Cash Interest Paid |
1.2 |
1.9 |
1.6 |
2.7 |
2.0 |
|
Cash Taxes Paid |
32.0 |
22.8 |
11.0 |
27.7 |
23.4 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
116.944303 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
|
Total Revenue |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
|
|
|
|
|
|
|
|
Cost of Sales |
794.2 |
727.8 |
690.9 |
651.6 |
600.8 |
|
Payrolls |
46.9 |
43.5 |
37.4 |
37.9 |
35.1 |
|
Provision for bonuses |
4.7 |
3.8 |
3.1 |
2.5 |
2.5 |
|
Periodic retirement benefit costs |
1.1 |
0.9 |
0.7 |
0.5 |
0.6 |
|
Freight and transporation fee |
15.8 |
14.2 |
14.4 |
11.7 |
- |
|
Prov. for doubtful accounts |
0.2 |
0.8 |
0.8 |
0.4 |
- |
|
R&D expenses |
24.6 |
19.1 |
- |
- |
- |
|
Other general expenses |
37.7 |
35.3 |
49.8 |
52.8 |
61.2 |
|
SP Reversal G on allow.doubt.accounts |
0.0 |
0.0 |
0.0 |
0.0 |
-0.2 |
|
SP Government subsidy |
- |
- |
- |
0.0 |
-0.7 |
|
SP Compensation on relocation |
- |
0.0 |
-0.1 |
0.0 |
- |
|
SP Other special gain |
0.0 |
-0.2 |
0.0 |
0.0 |
- |
|
SP Assets impairment losses |
0.0 |
0.7 |
0.3 |
0.0 |
0.0 |
|
SP Retirement benefit expenses |
0.0 |
3.9 |
0.0 |
- |
- |
|
SP U.S Levy |
- |
- |
- |
0.0 |
0.5 |
|
SP Loss Valu. Inv. Secs |
- |
0.0 |
0.8 |
0.0 |
- |
|
SP L on closure of factory |
- |
0.0 |
4.0 |
2.8 |
0.0 |
|
SP Allow.Doubtful Acct. |
- |
- |
0.0 |
0.8 |
0.0 |
|
SP Loss on disaster |
3.9 |
0.0 |
- |
- |
- |
|
SP L on adjust. for change of accounting |
0.2 |
0.0 |
- |
- |
- |
|
SP Amort. of pri. sev.C on rev.of pen.p. |
- |
- |
0.0 |
1.0 |
0.0 |
|
SP Additional Retire.Bene. |
- |
- |
0.0 |
0.8 |
0.5 |
|
SP Claim settlement |
- |
- |
- |
- |
0.0 |
|
SP Other Special Loss |
0.7 |
0.3 |
0.1 |
0.6 |
0.0 |
|
NOP Loss on retirement of inventories |
- |
- |
- |
- |
0.0 |
|
Total Operating Expense |
929.9 |
850.0 |
802.0 |
763.4 |
700.3 |
|
|
|
|
|
|
|
|
NOP Interest Income |
0.5 |
0.1 |
0.2 |
0.2 |
0.2 |
|
NOP Dividend Income |
0.3 |
0.2 |
0.2 |
0.1 |
0.1 |
|
NOP Equity Gain |
0.0 |
1.8 |
1.1 |
0.3 |
2.0 |
|
NOP Exchange Gain |
- |
- |
- |
0.0 |
3.0 |
|
NOP G on recycle of waste |
0.7 |
0.3 |
0.9 |
0.8 |
0.0 |
|
NOP Compansation of Office Relocation |
0.4 |
0.0 |
- |
- |
- |
|
NOP Other non-operating income |
0.7 |
1.0 |
1.2 |
0.4 |
1.2 |
|
NOP Interest expenses |
-1.2 |
-1.8 |
-1.6 |
-2.7 |
-2.0 |
|
NOP Amort.of development stage expenses |
- |
- |
- |
0.0 |
-0.8 |
|
NOP Exchange Loss |
-0.8 |
-3.3 |
-0.8 |
-2.1 |
0.0 |
|
NOP Equity Loss |
-0.9 |
0.0 |
- |
- |
- |
|
NOP Other non-operating expenses |
0.0 |
-0.2 |
-0.2 |
-0.1 |
-0.5 |
|
SP Gain-Sale Fixed Assets |
0.0 |
0.2 |
0.2 |
4.6 |
0.1 |
|
SP Gain on transfer of business |
- |
- |
- |
- |
0.0 |
|
SP G.Sale Inv.Secs. |
- |
- |
- |
0.0 |
0.4 |
|
SP Sale&Write Off Fixed Assets |
-4.9 |
-3.2 |
-1.2 |
-3.5 |
-0.3 |
|
Net Income Before Taxes |
80.8 |
74.7 |
54.3 |
39.1 |
57.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
28.3 |
19.9 |
19.4 |
17.8 |
27.0 |
|
Net Income After Taxes |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Extra. Items |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
Net Income |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Adjutment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
28.1 |
28.1 |
28.9 |
29.5 |
30.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Basic EPS Including ExtraOrdinary Item |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
Diluted Weighted Average Shares |
28.1 |
28.1 |
28.9 |
29.5 |
30.1 |
|
Diluted EPS Excluding ExtraOrd Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Diluted EPS Including ExtraOrd Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
DPS-Common Stock |
0.41 |
0.32 |
0.30 |
0.26 |
0.26 |
|
Gross Dividends - Common Stock |
11.6 |
9.1 |
8.6 |
7.7 |
7.7 |
|
Normalized Income Before Taxes |
91.2 |
83.4 |
61.6 |
46.1 |
59.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
31.7 |
21.9 |
21.6 |
20.1 |
27.2 |
|
Normalized Income After Taxes |
59.5 |
61.4 |
40.1 |
26.1 |
32.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
59.5 |
61.4 |
40.1 |
26.1 |
32.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.12 |
2.19 |
1.39 |
0.89 |
1.07 |
|
Diluted Normalized EPS |
2.12 |
2.19 |
1.39 |
0.89 |
1.07 |
|
R&D expenses(SGA+COGS) |
24.6 |
19.1 |
17.4 |
17.6 |
17.6 |
|
Interest Expense |
1.2 |
1.8 |
1.6 |
2.7 |
2.0 |
|
Depreciation |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Amort of goodwill |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Reported operating profit |
91.0 |
84.1 |
59.3 |
47.1 |
54.0 |
|
Reported ordinary profit |
90.6 |
82.3 |
60.3 |
44.0 |
57.3 |
|
Service cost |
1.3 |
1.5 |
1.2 |
1.3 |
1.5 |
|
Interest cost |
1.7 |
1.7 |
1.5 |
1.5 |
1.3 |
|
Expected return on plan assets |
-1.3 |
-1.4 |
-1.4 |
-1.5 |
-1.1 |
|
Actuarial gains and losses |
0.9 |
1.0 |
0.5 |
0.2 |
0.2 |
|
Prior Service Cost - Domestic |
0.3 |
0.2 |
0.0 |
- |
- |
|
Pension Exp. due to Acct. Changes |
0.0 |
3.9 |
0.0 |
- |
- |
|
Additional retirement benefits |
- |
- |
0.0 |
0.8 |
0.5 |
|
Amort. prior service cost - overseas sys |
- |
- |
0.0 |
1.0 |
0.0 |
|
Domestic Pension Plan Expense |
2.9 |
6.9 |
1.8 |
3.3 |
2.3 |
|
Defined Contribution Expense |
1.2 |
0.0 |
- |
- |
- |
|
Total Pension Expense |
4.1 |
6.9 |
1.8 |
3.3 |
2.3 |
|
Discount rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount rate - Foreign |
5.80% |
5.80% |
6.25% |
6.00% |
6.00% |
|
Expected rate of return - Domestic |
0.00% |
1.00% |
1.00% |
1.00% |
1.00% |
|
Expected rate of return - Foreign |
8.50% |
6.25% |
8.50% |
8.50% |
8.50% |
|
|
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.88 |
93.44 |
98.77 |
99.535 |
118.075 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
95.1 |
58.4 |
60.4 |
49.8 |
26.6 |
|
Accounts & notes receivable, gross |
233.2 |
237.4 |
213.4 |
231.6 |
199.4 |
|
Inventory |
- |
- |
- |
- |
60.8 |
|
Electronically Recorded Monetary |
14.5 |
0.0 |
- |
- |
- |
|
Inventories - merch.&finished goods |
40.8 |
31.3 |
32.7 |
37.0 |
- |
|
Inventories - work-in-process |
18.4 |
13.7 |
16.6 |
21.4 |
- |
|
Inventories -supplies&raw materials |
26.8 |
21.9 |
20.3 |
20.1 |
- |
|
Deferred Tax |
13.7 |
8.0 |
4.6 |
3.8 |
4.4 |
|
Advance Money |
- |
- |
- |
- |
0.0 |
|
Prepaid Expense |
- |
1.9 |
2.2 |
2.0 |
1.8 |
|
Other Assets |
19.1 |
11.1 |
12.0 |
21.8 |
17.1 |
|
Doubtful Account |
-0.7 |
-0.8 |
-0.9 |
-1.1 |
-0.9 |
|
Total Current Assets |
461.0 |
382.9 |
361.3 |
386.5 |
309.3 |
|
|
|
|
|
|
|
|
Build.&Structure |
181.2 |
157.6 |
146.6 |
157.3 |
121.9 |
|
Build.&Structure-Depreciation |
-80.5 |
-67.7 |
-58.6 |
-60.9 |
- |
|
Machine.&Vehicle |
518.5 |
463.8 |
398.2 |
442.7 |
368.8 |
|
Machine.&Vehicle-Depreciation |
-320.7 |
-271.5 |
-231.4 |
-246.6 |
- |
|
Land |
60.5 |
48.9 |
46.0 |
43.8 |
39.9 |
|
Lease Assets |
2.8 |
2.6 |
1.5 |
0.0 |
- |
|
Lease Assets-Depreciation |
-1.2 |
-1.0 |
-0.5 |
0.0 |
- |
|
Const. Progress |
15.3 |
26.4 |
33.3 |
33.7 |
11.8 |
|
Other PP & E |
26.7 |
24.9 |
23.2 |
25.6 |
21.1 |
|
Other PP & E-Depreciation |
-21.0 |
-20.2 |
-18.5 |
-19.4 |
- |
|
Depreciation |
- |
- |
- |
- |
-259.2 |
|
Goodwill |
0.9 |
1.4 |
2.3 |
4.8 |
2.7 |
|
Lease Assets |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Other Intangible |
7.2 |
8.3 |
8.5 |
9.4 |
6.0 |
|
Investment Secs |
32.6 |
31.5 |
25.3 |
29.5 |
27.7 |
|
LT Loan |
- |
0.3 |
0.3 |
0.3 |
0.3 |
|
Deferred Tax |
7.7 |
7.5 |
4.3 |
4.5 |
3.3 |
|
Other Assets |
6.5 |
7.7 |
7.0 |
11.3 |
11.2 |
|
Doubtful Account |
-0.2 |
-0.3 |
-1.2 |
-2.2 |
-1.5 |
|
Total Assets |
897.4 |
802.9 |
747.6 |
820.1 |
663.1 |
|
|
|
|
|
|
|
|
Note&Acct. Pybl. |
170.2 |
155.5 |
154.0 |
153.4 |
127.2 |
|
ST Borrowing |
34.4 |
45.3 |
78.6 |
94.4 |
42.4 |
|
Cur. Port. Debt |
7.4 |
6.8 |
7.5 |
9.8 |
10.3 |
|
Lease Liabilities |
0.7 |
0.5 |
0.3 |
0.0 |
- |
|
Other accounts payable |
31.6 |
27.4 |
19.0 |
27.7 |
21.5 |
|
Tax Payable |
10.1 |
15.3 |
10.9 |
3.9 |
12.7 |
|
Deferred tax liabilities (current) |
0.0 |
0.0 |
0.0 |
0.2 |
0.1 |
|
Bonus Allowance |
10.6 |
8.4 |
8.3 |
8.0 |
6.8 |
|
Other Liability |
16.9 |
21.7 |
23.8 |
28.9 |
19.7 |
|
Total Current Liabilities |
282.0 |
280.9 |
302.4 |
326.3 |
240.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
20.1 |
10.2 |
15.9 |
7.7 |
9.1 |
|
Lease Liabilities |
1.1 |
1.1 |
0.7 |
0.0 |
- |
|
Total Long Term Debt |
21.2 |
11.3 |
16.6 |
7.7 |
9.1 |
|
|
|
|
|
|
|
|
Allow.Accr.Retir |
15.2 |
15.4 |
11.7 |
7.8 |
8.9 |
|
Deferred tax liabilities (non-current) |
11.7 |
2.2 |
1.0 |
2.0 |
1.3 |
|
Assets Retirement Obligation |
0.6 |
0.0 |
- |
- |
- |
|
Other Liability |
0.7 |
0.5 |
0.3 |
0.5 |
0.6 |
|
Total Liabilities |
331.3 |
310.3 |
331.9 |
344.3 |
260.6 |
|
|
|
|
|
|
|
|
Common Stock |
72.3 |
64.1 |
60.6 |
60.2 |
50.7 |
|
Paid-In Capital |
75.2 |
66.7 |
63.1 |
62.6 |
52.8 |
|
Retained Earning |
554.1 |
452.8 |
385.3 |
357.8 |
288.5 |
|
Treasury Stock |
-46.3 |
-42.6 |
-40.3 |
-19.9 |
-0.7 |
|
Unrealized Gains |
0.0 |
0.8 |
0.0 |
1.6 |
2.5 |
|
Min.Pension Adju |
-8.5 |
-8.8 |
-8.5 |
-5.0 |
-4.1 |
|
Deferred gains or losses on hedges |
0.0 |
0.0 |
- |
- |
- |
|
Foreign Cur. Adj |
-80.7 |
-40.3 |
-44.6 |
18.7 |
12.8 |
|
Total Equity |
566.1 |
492.6 |
415.7 |
475.9 |
402.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
897.4 |
802.9 |
747.6 |
820.1 |
663.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
28.1 |
28.1 |
28.1 |
29.4 |
30.1 |
|
Total Common Shares Outstanding |
28.1 |
28.1 |
28.1 |
29.4 |
30.1 |
|
T/S-Common Stock |
1.9 |
2.0 |
2.0 |
0.7 |
0.0 |
|
Full-Time Employees |
2,577 |
2,483 |
2,368 |
2,512 |
2,327 |
|
Number of Common Shareholders |
3,918 |
3,909 |
3,995 |
4,360 |
4,405 |
|
Long Term Debt Within 1 Year |
7.4 |
6.8 |
7.5 |
9.8 |
10.3 |
|
Long Term Debt Within 2 Years |
5.6 |
5.9 |
6.4 |
6.6 |
5.8 |
|
Long Term Debt Within 3 Years |
11.1 |
4.1 |
5.5 |
0.8 |
3.2 |
|
Long Term Debt Within 4 Years |
1.5 |
0.0 |
3.9 |
0.0 |
0.0 |
|
Long Term Debt Within 5 Years |
2.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Remaining |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Total Long Term Debt, Supplemental |
27.5 |
17.0 |
23.3 |
17.4 |
19.4 |
|
Long Term Debt Within 1 Year |
0.7 |
0.5 |
0.3 |
- |
- |
|
Long Term Debt Within 2 Years |
0.6 |
0.5 |
0.2 |
- |
- |
|
Long Term Debt Within 3 Years |
0.3 |
0.4 |
0.2 |
- |
- |
|
Long Term Debt Within 4 Years |
0.1 |
0.2 |
0.2 |
- |
- |
|
Long Term Debt Within 5 Years |
0.1 |
0.0 |
0.1 |
- |
- |
|
Remaining |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Capital Leases |
1.7 |
1.6 |
1.1 |
- |
- |
|
Pension obligation |
39.6 |
36.8 |
38.0 |
41.6 |
32.6 |
|
Fair value of plan asset |
20.2 |
16.8 |
23.2 |
32.4 |
24.5 |
|
Funded status |
-19.4 |
-20.0 |
-14.8 |
-9.2 |
-8.1 |
|
Total Funded Status |
-19.4 |
-20.0 |
-14.8 |
-9.2 |
-8.1 |
|
Discount rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount rate - Foreign |
5.80% |
5.80% |
6.25% |
6.00% |
6.00% |
|
Expected rate of return - Domestic |
0.00% |
1.00% |
1.00% |
1.00% |
1.00% |
|
Expected rate of return - Foreign |
8.50% |
6.25% |
8.50% |
8.50% |
8.50% |
|
Unrecognized actuarial gains and losses |
9.9 |
10.6 |
12.2 |
7.0 |
3.8 |
|
Unrecognized prior service cost |
2.9 |
2.8 |
0.0 |
- |
- |
|
Least Recognized Plan Assets Debts |
- |
- |
- |
0.0 |
-4.6 |
|
Adjustment to pension obligations |
-8.5 |
-8.8 |
-9.1 |
-5.6 |
0.0 |
|
Reserve for accrued retirement benefits |
-15.2 |
-15.4 |
-11.7 |
-7.8 |
-8.9 |
|
Net Assets Recognized on Balance Sheet |
-10.9 |
-10.8 |
-8.6 |
-6.4 |
-9.7 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
116.944303 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
80.8 |
74.7 |
54.3 |
39.1 |
57.3 |
|
Depreciation |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Impairment losses on assets |
0.0 |
0.7 |
0.3 |
0.0 |
0.0 |
|
L on Adjust, for change of accounting |
0.2 |
0.0 |
- |
- |
- |
|
Amort of goodwill |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Allow. Doubtful Acct |
-0.2 |
-1.1 |
-0.9 |
0.4 |
0.0 |
|
Bonus Allowance |
1.3 |
-0.4 |
0.4 |
-0.1 |
0.3 |
|
Allow. Accr. Retire. |
-0.6 |
3.2 |
-0.1 |
-2.6 |
-0.7 |
|
Allow. Director |
- |
- |
- |
- |
0.0 |
|
Equity Gain/Loss |
0.9 |
-1.8 |
-1.1 |
-0.3 |
-2.0 |
|
Sale Fixed Assets |
0.0 |
-0.2 |
-0.2 |
-4.6 |
-0.1 |
|
Sale&Write Off Fixed Assets |
4.9 |
3.0 |
1.0 |
3.5 |
0.3 |
|
L.Val.Inv.Secs. |
- |
0.0 |
0.8 |
0.0 |
- |
|
Loss on disaster |
3.9 |
0.0 |
- |
- |
- |
|
L on closure of factory |
- |
0.0 |
1.2 |
2.3 |
0.0 |
|
Gains on transfer of business |
- |
- |
- |
- |
0.0 |
|
Claim settlement |
- |
- |
- |
- |
0.0 |
|
Interest &Dividend |
-0.7 |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
|
Interest Expense |
1.2 |
1.8 |
1.6 |
2.7 |
2.0 |
|
Exchange Gain/Loss |
-0.1 |
0.1 |
1.7 |
1.3 |
-0.9 |
|
Account Receivable |
8.9 |
-10.1 |
-6.5 |
5.3 |
-4.7 |
|
Inventory |
-15.7 |
7.5 |
0.3 |
-5.0 |
-0.1 |
|
Account Payable |
-0.1 |
-8.2 |
15.6 |
2.6 |
-7.7 |
|
Other Payable |
-0.9 |
5.4 |
-6.2 |
2.9 |
-4.6 |
|
Sale Tax Payable |
-3.8 |
2.0 |
0.8 |
-0.2 |
-0.9 |
|
Other |
-2.8 |
-0.4 |
4.1 |
4.6 |
-2.7 |
|
Int.&Divid. Received |
0.6 |
0.4 |
0.4 |
0.4 |
0.3 |
|
Interest expenses paid |
-1.2 |
-1.9 |
-1.6 |
-2.7 |
-2.0 |
|
Income tax (paid) refund |
-32.0 |
-22.8 |
-11.0 |
-27.7 |
-23.4 |
|
Payments for loss on disaster |
-0.9 |
0.0 |
- |
- |
- |
|
Claim settlement paid |
- |
- |
- |
- |
0.0 |
|
Adjustment |
0.0 |
- |
- |
0.0 |
0.0 |
|
Cash from Operating Activities |
97.7 |
100.3 |
100.0 |
64.2 |
44.9 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-53.7 |
-45.9 |
-66.3 |
-54.4 |
-78.7 |
|
Sale of PPE |
0.1 |
0.7 |
1.6 |
8.6 |
0.3 |
|
Purch, Intangible |
-1.6 |
-1.7 |
-1.8 |
-4.4 |
-1.4 |
|
Purch. Inv. Secs. |
-0.3 |
-1.3 |
-0.2 |
-1.0 |
-1.1 |
|
Sale LT inv't in sec. |
0.0 |
0.1 |
0.0 |
0.0 |
0.6 |
|
Loan Made |
-0.1 |
-0.1 |
-0.1 |
-0.3 |
-0.9 |
|
Loan Collected |
0.1 |
0.1 |
0.2 |
1.2 |
0.2 |
|
Purchase of businesses |
- |
- |
0.0 |
-7.5 |
0.0 |
|
Purch. LT Prepaid |
-0.5 |
-1.2 |
-0.1 |
-0.3 |
-1.3 |
|
Other |
1.3 |
-0.3 |
2.3 |
0.6 |
0.8 |
|
Cash from Investing Activities |
-54.7 |
-49.6 |
-64.4 |
-57.5 |
-81.5 |
|
|
|
|
|
|
|
|
Increase (decrease) in ST loans |
-16.0 |
-40.8 |
- |
- |
- |
|
Proc. ST Debt |
- |
- |
19.9 |
32.1 |
59.8 |
|
Repaid ST Debt |
- |
- |
-10.4 |
-6.2 |
-41.0 |
|
Proc. LT Debt |
17.5 |
0.0 |
16.3 |
7.9 |
7.7 |
|
Repaid LT Debt |
-7.8 |
-8.1 |
-8.6 |
-12.4 |
-8.6 |
|
Treasury stock purchased |
0.0 |
0.0 |
-19.9 |
-16.6 |
0.0 |
|
Proceeds from sales of treasury stock |
1.4 |
0.0 |
- |
- |
- |
|
Repaid Finance.Lease |
-0.6 |
-0.5 |
-0.3 |
-0.2 |
-0.2 |
|
Dividend Paid |
-9.9 |
-9.1 |
-8.8 |
-7.8 |
-6.4 |
|
Other |
- |
- |
- |
0.0 |
0.0 |
|
Cash from Financing Activities |
-15.4 |
-58.4 |
-11.7 |
-3.3 |
11.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
0.3 |
0.6 |
-0.3 |
2.0 |
|
Net Change in Cash |
26.2 |
-7.4 |
24.5 |
3.1 |
-23.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
56.6 |
59.6 |
30.6 |
23.8 |
46.6 |
|
Net Cash - Ending Balance |
82.8 |
52.1 |
55.1 |
26.9 |
23.3 |
|
Cash Interest Paid |
1.2 |
1.9 |
1.6 |
2.7 |
2.0 |
|
Cash Taxes Paid |
32.0 |
22.8 |
11.0 |
27.7 |
23.4 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
116.944303 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
|
Revenue |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
|
Total Revenue |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
794.2 |
727.8 |
690.9 |
651.6 |
600.8 |
|
Cost of Revenue, Total |
794.2 |
727.8 |
690.9 |
651.6 |
600.8 |
|
Gross Profit |
221.9 |
201.6 |
165.4 |
153.0 |
153.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
53.7 |
50.3 |
65.0 |
64.9 |
61.2 |
|
Labor & Related Expense |
52.6 |
48.2 |
41.1 |
40.9 |
38.2 |
|
Total Selling/General/Administrative Expenses |
106.3 |
98.5 |
106.1 |
105.9 |
99.5 |
|
Research & Development |
24.6 |
19.1 |
- |
- |
- |
|
Litigation |
- |
- |
- |
- |
0.0 |
|
Impairment-Assets Held for Use |
0.0 |
0.7 |
0.3 |
0.0 |
0.0 |
|
Impairment-Assets Held for Sale |
- |
0.0 |
0.8 |
0.0 |
- |
|
Other Unusual Expense (Income) |
4.8 |
4.0 |
3.9 |
5.9 |
0.1 |
|
Unusual Expense (Income) |
4.8 |
4.7 |
5.0 |
5.9 |
0.1 |
|
Total Operating Expense |
929.9 |
850.0 |
802.0 |
763.4 |
700.3 |
|
|
|
|
|
|
|
|
Operating Income |
86.2 |
79.4 |
54.3 |
41.2 |
53.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-1.2 |
-1.8 |
-1.6 |
-2.7 |
-2.0 |
|
Interest Expense, Net Non-Operating |
-1.2 |
-1.8 |
-1.6 |
-2.7 |
-2.0 |
|
Interest Income -
Non-Operating |
0.5 |
0.1 |
0.2 |
0.2 |
0.2 |
|
Investment Income -
Non-Operating |
-1.4 |
-1.2 |
0.5 |
-1.7 |
5.5 |
|
Interest/Investment Income - Non-Operating |
-0.9 |
-1.1 |
0.7 |
-1.5 |
5.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
-2.2 |
-2.9 |
-0.9 |
-4.2 |
3.7 |
|
Gain (Loss) on Sale of Assets |
-4.9 |
-3.0 |
-1.0 |
1.1 |
-0.3 |
|
Other Non-Operating Income (Expense) |
1.7 |
1.1 |
1.9 |
1.1 |
0.0 |
|
Other, Net |
1.7 |
1.1 |
1.9 |
1.1 |
0.0 |
|
Income Before Tax |
80.8 |
74.7 |
54.3 |
39.1 |
57.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
28.3 |
19.9 |
19.4 |
17.8 |
27.0 |
|
Income After Tax |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Extraord Items |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
Net Income |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
28.1 |
28.1 |
28.9 |
29.5 |
30.1 |
|
Basic EPS Excl Extraord Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Basic/Primary EPS Incl Extraord Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
Diluted Weighted Average Shares |
28.1 |
28.1 |
28.9 |
29.5 |
30.1 |
|
Diluted EPS Excl Extraord Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Diluted EPS Incl Extraord Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Dividends per Share - Common Stock Primary Issue |
0.41 |
0.32 |
0.30 |
0.26 |
0.26 |
|
Gross Dividends - Common Stock |
11.6 |
9.1 |
8.6 |
7.7 |
7.7 |
|
Interest Expense, Supplemental |
1.2 |
1.8 |
1.6 |
2.7 |
2.0 |
|
Depreciation, Supplemental |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Total Special Items |
10.4 |
8.7 |
7.3 |
7.0 |
2.1 |
|
Normalized Income Before Tax |
91.2 |
83.4 |
61.6 |
46.1 |
59.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
3.4 |
2.0 |
2.1 |
2.2 |
0.2 |
|
Inc Tax Ex Impact of Sp Items |
31.7 |
21.9 |
21.6 |
20.1 |
27.2 |
|
Normalized Income After Tax |
59.5 |
61.4 |
40.1 |
26.1 |
32.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
59.5 |
61.4 |
40.1 |
26.1 |
32.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.12 |
2.19 |
1.39 |
0.89 |
1.07 |
|
Diluted Normalized EPS |
2.12 |
2.19 |
1.39 |
0.89 |
1.07 |
|
Amort of Acquisition Costs, Supplemental |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Research & Development Exp, Supplemental |
24.6 |
19.1 |
17.4 |
17.6 |
17.6 |
|
Reported Operating Profit |
91.0 |
84.1 |
59.3 |
47.1 |
54.0 |
|
Reported Ordinary Profit |
90.6 |
82.3 |
60.3 |
44.0 |
57.3 |
|
Normalized EBIT |
91.0 |
84.1 |
59.3 |
47.1 |
54.0 |
|
Normalized EBITDA |
144.9 |
133.0 |
104.9 |
89.7 |
88.9 |
|
Interest Cost - Domestic |
1.7 |
1.7 |
1.5 |
1.5 |
1.3 |
|
Service Cost - Domestic |
1.3 |
1.5 |
1.2 |
1.3 |
1.5 |
|
Prior Service Cost - Domestic |
0.3 |
0.2 |
0.0 |
- |
- |
|
Expected Return on Assets - Domestic |
-1.3 |
-1.4 |
-1.4 |
-1.5 |
-1.1 |
|
Actuarial Gains and Losses - Domestic |
0.9 |
1.0 |
0.5 |
0.2 |
0.2 |
|
Transition Costs - Domestic |
0.0 |
3.9 |
0.0 |
- |
- |
|
Other Pension, Net - Domestic |
- |
- |
0.0 |
1.8 |
0.5 |
|
Domestic Pension Plan Expense |
2.9 |
6.9 |
1.8 |
3.3 |
2.3 |
|
Defined Contribution Expense - Domestic |
1.2 |
0.0 |
- |
- |
- |
|
Total Pension Expense |
4.1 |
6.9 |
1.8 |
3.3 |
2.3 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount Rate - Foreign |
5.80% |
5.80% |
6.25% |
6.00% |
6.00% |
|
Expected Rate of Return - Domestic |
0.00% |
1.00% |
1.00% |
1.00% |
1.00% |
|
Expected Rate of Return - Foreign |
8.50% |
6.25% |
8.50% |
8.50% |
8.50% |
|
Total Plan Interest Cost |
1.7 |
1.7 |
1.5 |
1.5 |
1.3 |
|
Total Plan Service Cost |
1.3 |
1.5 |
1.2 |
1.3 |
1.5 |
|
Total Plan Expected Return |
-1.3 |
-1.4 |
-1.4 |
-1.5 |
-1.1 |
|
Total Plan Other Expense |
- |
- |
0.0 |
1.8 |
0.5 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.605269 |
82.241044 |
82.567473 |
85.838925 |
92.080323 |
|
|
|
|
|
|
|
|
Net Sales |
288.7 |
238.5 |
251.1 |
274.1 |
251.9 |
|
Revenue |
288.7 |
238.5 |
251.1 |
274.1 |
251.9 |
|
Total Revenue |
288.7 |
238.5 |
251.1 |
274.1 |
251.9 |
|
|
|
|
|
|
|
|
Cost of Revenue |
221.0 |
190.7 |
197.9 |
213.0 |
192.6 |
|
Cost of Revenue, Total |
221.0 |
190.7 |
197.9 |
213.0 |
192.6 |
|
Gross Profit |
67.7 |
47.7 |
53.2 |
61.1 |
59.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
20.7 |
16.0 |
21.8 |
18.5 |
20.1 |
|
Labor & Related Expense |
13.9 |
16.2 |
13.4 |
12.9 |
12.2 |
|
Total Selling/General/Administrative Expenses |
34.6 |
32.2 |
35.2 |
31.4 |
32.2 |
|
Impairment-Assets Held for Use |
- |
0.0 |
- |
0.0 |
- |
|
Other Unusual Expense (Income) |
0.0 |
4.6 |
0.0 |
0.2 |
0.2 |
|
Unusual Expense (Income) |
0.0 |
4.6 |
0.0 |
0.2 |
0.2 |
|
Total Operating Expense |
255.5 |
227.6 |
233.1 |
244.6 |
225.0 |
|
|
|
|
|
|
|
|
Operating Income |
33.1 |
10.9 |
18.0 |
29.5 |
26.8 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.2 |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
|
Interest Expense, Net Non-Operating |
-0.2 |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
|
Interest Income -
Non-Operating |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Investment Income -
Non-Operating |
0.7 |
-0.4 |
-0.7 |
-0.4 |
0.0 |
|
Interest/Investment Income - Non-Operating |
0.9 |
-0.3 |
-0.5 |
-0.3 |
0.1 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.7 |
-0.5 |
-0.8 |
-0.6 |
-0.2 |
|
Gain (Loss) on Sale of Assets |
-0.1 |
-4.0 |
-0.4 |
0.0 |
-0.6 |
|
Other Non-Operating Income (Expense) |
0.5 |
0.2 |
0.5 |
0.4 |
0.6 |
|
Other, Net |
0.5 |
0.2 |
0.5 |
0.4 |
0.6 |
|
Income Before Tax |
34.3 |
6.5 |
17.3 |
29.2 |
26.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
12.4 |
1.0 |
6.4 |
12.5 |
8.1 |
|
Income After Tax |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
Net Income |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Basic EPS Excl Extraord Items |
0.78 |
0.20 |
0.39 |
0.60 |
0.66 |
|
Basic/Primary EPS Incl Extraord Items |
0.78 |
0.20 |
0.39 |
0.60 |
0.66 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
Diluted Weighted Average Shares |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Diluted EPS Excl Extraord Items |
0.78 |
0.20 |
0.39 |
0.60 |
0.66 |
|
Diluted EPS Incl Extraord Items |
0.78 |
0.20 |
0.39 |
0.60 |
0.66 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.24 |
0.00 |
0.17 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
6.9 |
0.0 |
5.0 |
0.0 |
|
Interest Expense, Supplemental |
0.2 |
0.2 |
0.3 |
0.3 |
0.3 |
|
Depreciation, Supplemental |
13.1 |
14.8 |
15.1 |
12.3 |
11.2 |
|
Total Special Items |
0.3 |
8.8 |
0.6 |
0.4 |
0.9 |
|
Normalized Income Before Tax |
34.6 |
15.4 |
17.9 |
29.6 |
27.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
1.4 |
0.2 |
0.1 |
0.2 |
|
Inc Tax Ex Impact of Sp Items |
12.4 |
2.4 |
6.6 |
12.5 |
8.3 |
|
Normalized Income After Tax |
22.2 |
13.0 |
11.3 |
17.0 |
19.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
22.2 |
13.0 |
11.3 |
17.0 |
19.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.79 |
0.46 |
0.40 |
0.61 |
0.69 |
|
Diluted Normalized EPS |
0.79 |
0.46 |
0.40 |
0.61 |
0.69 |
|
Amort of Acquisition Costs, Supplemental |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Reported Operating Profit |
33.1 |
15.5 |
18.0 |
29.7 |
27.0 |
|
Reported Ordinary Profit |
34.4 |
15.2 |
17.7 |
29.4 |
27.4 |
|
Normalized EBIT |
33.1 |
15.5 |
18.0 |
29.7 |
27.0 |
|
Normalized EBITDA |
46.4 |
30.5 |
33.3 |
42.2 |
38.4 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.88 |
93.44 |
98.77 |
99.535 |
118.075 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
95.1 |
58.4 |
60.4 |
49.8 |
26.6 |
|
Cash and Short Term Investments |
95.1 |
58.4 |
60.4 |
49.8 |
26.6 |
|
Accounts Receivable -
Trade, Gross |
233.2 |
237.4 |
213.4 |
231.6 |
199.4 |
|
Provision for Doubtful
Accounts |
-0.7 |
-0.8 |
-0.9 |
-1.1 |
-0.9 |
|
Trade Accounts Receivable - Net |
232.6 |
236.6 |
212.5 |
230.5 |
198.5 |
|
Total Receivables, Net |
232.6 |
236.6 |
212.5 |
230.5 |
198.5 |
|
Inventories - Finished Goods |
40.8 |
31.3 |
32.7 |
37.0 |
- |
|
Inventories - Work In Progress |
18.4 |
13.7 |
16.6 |
21.4 |
- |
|
Inventories - Raw Materials |
26.8 |
21.9 |
20.3 |
20.1 |
- |
|
Total Inventory |
86.1 |
66.9 |
69.6 |
78.5 |
60.8 |
|
Prepaid Expenses |
- |
1.9 |
2.2 |
2.0 |
1.8 |
|
Deferred Income Tax - Current Asset |
13.7 |
8.0 |
4.6 |
3.8 |
4.4 |
|
Other Current Assets |
33.6 |
11.1 |
12.0 |
21.8 |
17.1 |
|
Other Current Assets, Total |
47.3 |
19.1 |
16.6 |
25.6 |
21.5 |
|
Total Current Assets |
461.0 |
382.9 |
361.3 |
386.5 |
309.3 |
|
|
|
|
|
|
|
|
Buildings |
181.2 |
157.6 |
146.6 |
157.3 |
121.9 |
|
Land/Improvements |
60.5 |
48.9 |
46.0 |
43.8 |
39.9 |
|
Machinery/Equipment |
518.5 |
463.8 |
398.2 |
442.7 |
368.8 |
|
Construction in
Progress |
15.3 |
26.4 |
33.3 |
33.7 |
11.8 |
|
Leases |
2.8 |
2.6 |
1.5 |
0.0 |
- |
|
Other
Property/Plant/Equipment |
26.7 |
24.9 |
23.2 |
25.6 |
21.1 |
|
Property/Plant/Equipment - Gross |
805.1 |
724.2 |
648.9 |
703.0 |
563.5 |
|
Accumulated Depreciation |
-423.4 |
-360.5 |
-309.0 |
-326.9 |
-259.2 |
|
Property/Plant/Equipment - Net |
381.6 |
363.8 |
339.9 |
376.1 |
304.3 |
|
Goodwill, Net |
0.9 |
1.4 |
2.3 |
4.8 |
2.7 |
|
Intangibles, Net |
7.2 |
8.3 |
8.5 |
9.4 |
6.0 |
|
LT Investments - Other |
32.6 |
31.5 |
25.3 |
29.5 |
27.7 |
|
Long Term Investments |
32.6 |
31.5 |
25.3 |
29.5 |
27.7 |
|
Note Receivable - Long Term |
- |
0.3 |
0.3 |
0.3 |
0.3 |
|
Deferred Income Tax - Long Term Asset |
7.7 |
7.5 |
4.3 |
4.5 |
3.3 |
|
Other Long Term Assets |
6.3 |
7.3 |
5.8 |
9.1 |
9.7 |
|
Other Long Term Assets, Total |
14.0 |
14.8 |
10.1 |
13.6 |
13.0 |
|
Total Assets |
897.4 |
802.9 |
747.6 |
820.1 |
663.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
170.2 |
155.5 |
154.0 |
153.4 |
127.2 |
|
Accrued Expenses |
10.6 |
8.4 |
8.3 |
8.0 |
6.8 |
|
Notes Payable/Short Term Debt |
34.4 |
45.3 |
78.6 |
94.4 |
42.4 |
|
Current Portion - Long Term Debt/Capital Leases |
8.0 |
7.3 |
7.8 |
9.8 |
10.3 |
|
Income Taxes Payable |
10.1 |
15.3 |
10.9 |
3.9 |
12.7 |
|
Other Payables |
31.6 |
27.4 |
19.0 |
27.7 |
21.5 |
|
Deferred Income Tax - Current Liability |
0.0 |
0.0 |
0.0 |
0.2 |
0.1 |
|
Other Current Liabilities |
16.9 |
21.7 |
23.8 |
28.9 |
19.7 |
|
Other Current liabilities, Total |
58.6 |
64.4 |
53.7 |
60.7 |
54.0 |
|
Total Current Liabilities |
282.0 |
280.9 |
302.4 |
326.3 |
240.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
20.1 |
10.2 |
15.9 |
7.7 |
9.1 |
|
Capital Lease Obligations |
1.1 |
1.1 |
0.7 |
0.0 |
- |
|
Total Long Term Debt |
21.2 |
11.3 |
16.6 |
7.7 |
9.1 |
|
Total Debt |
63.7 |
63.9 |
103.0 |
111.8 |
61.8 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
11.7 |
2.2 |
1.0 |
2.0 |
1.3 |
|
Deferred Income Tax |
11.7 |
2.2 |
1.0 |
2.0 |
1.3 |
|
Pension Benefits - Underfunded |
15.2 |
15.4 |
11.7 |
7.8 |
8.9 |
|
Other Long Term Liabilities |
1.3 |
0.5 |
0.3 |
0.5 |
0.6 |
|
Other Liabilities, Total |
16.4 |
16.0 |
11.9 |
8.3 |
9.5 |
|
Total Liabilities |
331.3 |
310.3 |
331.9 |
344.3 |
260.6 |
|
|
|
|
|
|
|
|
Common Stock |
72.3 |
64.1 |
60.6 |
60.2 |
50.7 |
|
Common Stock |
72.3 |
64.1 |
60.6 |
60.2 |
50.7 |
|
Additional Paid-In Capital |
75.2 |
66.7 |
63.1 |
62.6 |
52.8 |
|
Retained Earnings (Accumulated Deficit) |
554.1 |
452.8 |
385.3 |
357.8 |
288.5 |
|
Treasury Stock - Common |
-46.3 |
-42.6 |
-40.3 |
-19.9 |
-0.7 |
|
Unrealized Gain (Loss) |
0.1 |
0.8 |
0.0 |
1.6 |
2.5 |
|
Translation Adjustment |
-80.7 |
-40.3 |
-44.6 |
18.7 |
12.8 |
|
Minimum Pension Liability Adjustment |
-8.5 |
-8.8 |
-8.5 |
-5.0 |
-4.1 |
|
Other Equity, Total |
-89.2 |
-49.2 |
-53.1 |
13.6 |
8.7 |
|
Total Equity |
566.1 |
492.6 |
415.7 |
475.9 |
402.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
897.4 |
802.9 |
747.6 |
820.1 |
663.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
28.1 |
28.1 |
28.1 |
29.4 |
30.1 |
|
Total Common Shares Outstanding |
28.1 |
28.1 |
28.1 |
29.4 |
30.1 |
|
Treasury Shares - Common Stock Primary Issue |
1.9 |
2.0 |
2.0 |
0.7 |
0.0 |
|
Employees |
2,577 |
2,483 |
2,368 |
2,512 |
2,327 |
|
Number of Common Shareholders |
3,918 |
3,909 |
3,995 |
4,360 |
4,405 |
|
Total Long Term Debt, Supplemental |
27.5 |
17.0 |
23.3 |
17.4 |
19.4 |
|
Long Term Debt Maturing within 1 Year |
7.4 |
6.8 |
7.5 |
9.8 |
10.3 |
|
Long Term Debt Maturing in Year 2 |
5.6 |
5.9 |
6.4 |
6.6 |
5.8 |
|
Long Term Debt Maturing in Year 3 |
11.1 |
4.1 |
5.5 |
0.8 |
3.2 |
|
Long Term Debt Maturing in Year 4 |
1.5 |
0.0 |
3.9 |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
2.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
16.7 |
10.1 |
11.9 |
7.5 |
9.0 |
|
Long Term Debt Maturing in 4-5 Years |
3.4 |
0.1 |
3.9 |
0.1 |
0.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Total Capital Leases, Supplemental |
1.7 |
1.6 |
1.1 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
0.7 |
0.5 |
0.3 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.6 |
0.5 |
0.2 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.3 |
0.4 |
0.2 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
0.1 |
0.2 |
0.2 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.1 |
0.0 |
0.1 |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.9 |
0.9 |
0.5 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.2 |
0.2 |
0.3 |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
39.6 |
36.8 |
38.0 |
41.6 |
32.6 |
|
Plan Assets - Domestic |
20.2 |
16.8 |
23.2 |
32.4 |
24.5 |
|
Funded Status - Domestic |
-19.4 |
-20.0 |
-14.8 |
-9.2 |
-8.1 |
|
Total Funded Status |
-19.4 |
-20.0 |
-14.8 |
-9.2 |
-8.1 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount Rate - Foreign |
5.80% |
5.80% |
6.25% |
6.00% |
6.00% |
|
Expected Rate of Return - Domestic |
0.00% |
1.00% |
1.00% |
1.00% |
1.00% |
|
Expected Rate of Return - Foreign |
8.50% |
6.25% |
8.50% |
8.50% |
8.50% |
|
Accrued Liabilities - Domestic |
-15.2 |
-15.4 |
-11.7 |
-7.8 |
-8.9 |
|
Other Assets, Net - Domestic |
12.7 |
13.4 |
12.2 |
7.0 |
3.8 |
|
Other Assets, Net - Foreign |
-8.5 |
-8.8 |
-9.1 |
-5.6 |
-4.6 |
|
Net Assets Recognized on Balance Sheet |
-10.9 |
-10.8 |
-8.6 |
-6.4 |
-9.7 |
|
Total Plan Obligations |
39.6 |
36.8 |
38.0 |
41.6 |
32.6 |
|
Total Plan Assets |
20.2 |
16.8 |
23.2 |
32.4 |
24.5 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
80.76 |
82.88 |
81.105 |
83.54 |
88.49 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
90.0 |
95.1 |
72.2 |
96.2 |
69.3 |
|
Cash and Short Term Investments |
90.0 |
95.1 |
72.2 |
96.2 |
69.3 |
|
Accounts Receivable -
Trade, Gross |
290.2 |
233.2 |
294.9 |
302.8 |
286.6 |
|
Provision for Doubtful
Accounts |
-0.5 |
-0.7 |
-1.0 |
-0.9 |
-0.7 |
|
Trade Accounts Receivable - Net |
289.7 |
232.6 |
293.9 |
302.0 |
286.0 |
|
Total Receivables, Net |
289.7 |
232.6 |
293.9 |
302.0 |
286.0 |
|
Inventories - Finished Goods |
38.9 |
40.8 |
34.4 |
32.3 |
32.4 |
|
Inventories - Work In Progress |
23.6 |
18.4 |
22.1 |
19.0 |
16.5 |
|
Inventories - Raw Materials |
29.6 |
26.8 |
25.8 |
26.7 |
24.4 |
|
Total Inventory |
92.0 |
86.1 |
82.3 |
78.0 |
73.3 |
|
Prepaid Expenses |
- |
- |
- |
3.5 |
- |
|
Deferred Income Tax - Current Asset |
16.6 |
13.7 |
6.2 |
9.2 |
10.4 |
|
Other Current Assets |
48.0 |
33.6 |
18.0 |
17.0 |
24.2 |
|
Other Current Assets, Total |
64.6 |
47.3 |
24.2 |
26.2 |
34.6 |
|
Total Current Assets |
536.3 |
461.0 |
472.6 |
505.9 |
463.2 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
397.0 |
381.6 |
399.2 |
388.3 |
387.2 |
|
Goodwill, Net |
0.7 |
0.9 |
1.1 |
1.2 |
1.3 |
|
Intangibles, Net |
6.9 |
7.2 |
7.8 |
8.2 |
8.2 |
|
LT Investments - Other |
33.4 |
32.6 |
33.7 |
34.2 |
32.4 |
|
Long Term Investments |
33.4 |
32.6 |
33.7 |
34.2 |
32.4 |
|
Deferred Income Tax - Long Term Asset |
8.2 |
7.7 |
6.9 |
6.4 |
7.8 |
|
Other Long Term Assets |
6.4 |
6.3 |
6.8 |
6.6 |
7.8 |
|
Other Long Term Assets, Total |
14.6 |
14.0 |
13.7 |
13.0 |
15.6 |
|
Total Assets |
989.0 |
897.4 |
928.2 |
950.8 |
907.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
187.4 |
170.2 |
189.5 |
207.2 |
190.6 |
|
Accrued Expenses |
15.4 |
10.6 |
5.6 |
10.6 |
13.1 |
|
Notes Payable/Short Term Debt |
33.9 |
34.4 |
45.8 |
50.7 |
45.7 |
|
Current Portion - Long Term Debt/Capital Leases |
8.4 |
8.0 |
8.4 |
8.5 |
8.3 |
|
Income Taxes Payable |
12.5 |
10.1 |
5.0 |
17.5 |
10.4 |
|
Other Payables |
26.8 |
31.6 |
23.5 |
27.1 |
30.1 |
|
Deferred Income Tax - Current Liability |
- |
0.0 |
0.1 |
0.0 |
0.0 |
|
Other Current Liabilities |
46.3 |
16.9 |
20.3 |
23.6 |
31.1 |
|
Other Current liabilities, Total |
85.6 |
58.6 |
48.9 |
68.2 |
71.6 |
|
Total Current Liabilities |
330.6 |
282.0 |
298.2 |
345.2 |
329.3 |
|
|
|
|
|
|
|
|
Long Term Debt |
18.5 |
20.1 |
22.3 |
24.3 |
24.9 |
|
Capital Lease Obligations |
1.0 |
1.1 |
1.2 |
1.3 |
1.1 |
|
Total Long Term Debt |
19.4 |
21.2 |
23.4 |
25.5 |
26.0 |
|
Total Debt |
61.7 |
63.7 |
77.6 |
84.7 |
79.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
14.3 |
11.7 |
7.3 |
5.2 |
2.1 |
|
Deferred Income Tax |
14.3 |
11.7 |
7.3 |
5.2 |
2.1 |
|
Pension Benefits - Underfunded |
16.6 |
15.2 |
16.7 |
15.7 |
16.9 |
|
Other Long Term Liabilities |
1.2 |
1.3 |
1.1 |
1.1 |
1.0 |
|
Other Liabilities, Total |
17.8 |
16.4 |
17.8 |
16.8 |
17.9 |
|
Total Liabilities |
382.2 |
331.3 |
346.7 |
392.7 |
375.3 |
|
|
|
|
|
|
|
|
Common Stock |
74.2 |
72.3 |
73.9 |
71.7 |
67.7 |
|
Common Stock |
74.2 |
72.3 |
73.9 |
71.7 |
67.7 |
|
Additional Paid-In Capital |
77.2 |
75.2 |
76.9 |
74.6 |
70.1 |
|
Retained Earnings (Accumulated Deficit) |
583.7 |
554.1 |
560.6 |
538.6 |
492.4 |
|
Treasury Stock - Common |
-47.1 |
-46.3 |
-47.6 |
-46.8 |
-44.6 |
|
Unrealized Gain (Loss) |
0.2 |
0.0 |
0.3 |
0.4 |
0.5 |
|
Translation Adjustment |
-72.5 |
-80.7 |
-73.3 |
-71.0 |
-44.0 |
|
Minimum Pension Liability Adjustment |
-8.9 |
-8.5 |
-9.3 |
-9.5 |
-9.4 |
|
Other Comprehensive Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Equity, Total |
-81.3 |
-89.1 |
-82.6 |
-80.5 |
-53.5 |
|
Total Equity |
606.8 |
566.1 |
581.4 |
558.1 |
532.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
989.0 |
897.4 |
928.2 |
950.8 |
907.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
28.2 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Total Common Shares Outstanding |
28.2 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Treasury Shares - Common Stock Primary Issue |
1.9 |
1.9 |
2.0 |
2.0 |
2.0 |
|
Employees |
- |
2,577 |
2,591 |
2,585 |
2,548 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
116.944303 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
80.8 |
74.7 |
54.3 |
39.1 |
57.3 |
|
Depreciation |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Depreciation/Depletion |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Amortization of Acquisition Costs |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Amortization |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Unusual Items |
9.1 |
3.5 |
3.1 |
1.2 |
0.3 |
|
Equity in Net Earnings (Loss) |
0.9 |
-1.8 |
-1.1 |
-0.3 |
-2.0 |
|
Other Non-Cash Items |
-0.4 |
3.6 |
1.9 |
1.4 |
0.0 |
|
Non-Cash Items |
9.5 |
5.3 |
3.9 |
2.3 |
-1.7 |
|
Accounts Receivable |
8.9 |
-10.1 |
-6.5 |
5.3 |
-4.7 |
|
Inventories |
-15.7 |
7.5 |
0.3 |
-5.0 |
-0.1 |
|
Accounts Payable |
-1.0 |
-2.8 |
9.3 |
5.5 |
-12.3 |
|
Accrued Expenses |
1.3 |
-0.4 |
0.4 |
-0.1 |
0.3 |
|
Taxes Payable |
-3.8 |
2.0 |
0.8 |
-0.2 |
-0.9 |
|
Other Operating Cash Flow |
-36.3 |
-24.7 |
-8.1 |
-25.4 |
-27.8 |
|
Changes in Working Capital |
-46.6 |
-28.6 |
-3.9 |
-19.9 |
-45.6 |
|
Cash from Operating Activities |
97.7 |
100.3 |
100.0 |
64.2 |
44.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-53.7 |
-45.9 |
-66.3 |
-54.4 |
-78.7 |
|
Purchase/Acquisition of Intangibles |
-1.6 |
-1.7 |
-1.8 |
-4.4 |
-1.4 |
|
Capital Expenditures |
-55.4 |
-47.6 |
-68.1 |
-58.8 |
-80.1 |
|
Acquisition of Business |
- |
- |
0.0 |
-7.5 |
0.0 |
|
Sale of Fixed Assets |
0.1 |
0.7 |
1.6 |
8.6 |
0.3 |
|
Sale/Maturity of Investment |
0.0 |
0.1 |
0.0 |
0.0 |
0.6 |
|
Purchase of Investments |
-0.3 |
-1.3 |
-0.2 |
-1.0 |
-1.1 |
|
Other Investing Cash Flow |
0.8 |
-1.5 |
2.3 |
1.3 |
-1.2 |
|
Other Investing Cash Flow Items, Total |
0.6 |
-2.0 |
3.7 |
1.3 |
-1.4 |
|
Cash from Investing Activities |
-54.7 |
-49.6 |
-64.4 |
-57.5 |
-81.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
0.0 |
0.0 |
|
Financing Cash Flow Items |
- |
- |
- |
0.0 |
0.0 |
|
Cash Dividends Paid - Common |
-9.9 |
-9.1 |
-8.8 |
-7.8 |
-6.4 |
|
Total Cash Dividends Paid |
-9.9 |
-9.1 |
-8.8 |
-7.8 |
-6.4 |
|
Sale/Issuance of
Common |
1.4 |
0.0 |
- |
- |
- |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
-19.9 |
-16.6 |
0.0 |
|
Common Stock, Net |
1.4 |
0.0 |
-19.9 |
-16.6 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
1.4 |
0.0 |
-19.9 |
-16.6 |
0.0 |
|
Short Term Debt Issued |
- |
- |
19.9 |
32.1 |
59.8 |
|
Short Term Debt
Reduction |
- |
- |
-10.4 |
-6.2 |
-41.0 |
|
Short Term Debt, Net |
-16.0 |
-40.8 |
9.5 |
25.9 |
18.8 |
|
Long Term Debt Issued |
17.5 |
0.0 |
16.3 |
7.9 |
7.7 |
|
Long Term Debt
Reduction |
-8.4 |
-8.6 |
-8.8 |
-12.6 |
-8.8 |
|
Long Term Debt, Net |
9.1 |
-8.6 |
7.5 |
-4.7 |
-1.1 |
|
Issuance (Retirement) of Debt, Net |
-6.9 |
-49.4 |
17.0 |
21.1 |
17.7 |
|
Cash from Financing Activities |
-15.4 |
-58.4 |
-11.7 |
-3.3 |
11.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
0.3 |
0.6 |
-0.3 |
2.0 |
|
Net Change in Cash |
26.2 |
-7.4 |
24.5 |
3.1 |
-23.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
56.6 |
59.6 |
30.6 |
23.8 |
46.6 |
|
Net Cash - Ending Balance |
82.8 |
52.1 |
55.1 |
26.9 |
23.3 |
|
Cash Interest Paid |
1.2 |
1.9 |
1.6 |
2.7 |
2.0 |
|
Cash Taxes Paid |
32.0 |
22.8 |
11.0 |
27.7 |
23.4 |
|
© 1983-2011
Reuters Research Inc. All Rights Reserved. |
|
|
Published by
OneSource Information Services, Inc., November, 2011. |
|
|
|
|
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.605269 |
85.691434 |
86.812446 |
88.962162 |
92.080323 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
34.3 |
80.8 |
73.6 |
55.8 |
26.6 |
|
Depreciation |
13.1 |
53.2 |
38.5 |
23.5 |
11.2 |
|
Depreciation/Depletion |
13.1 |
53.2 |
38.5 |
23.5 |
11.2 |
|
Amortization of Acquisition Costs |
0.2 |
0.7 |
0.5 |
0.3 |
0.2 |
|
Amortization |
0.2 |
0.7 |
0.5 |
0.3 |
0.2 |
|
Unusual Items |
0.1 |
9.1 |
1.3 |
0.8 |
0.8 |
|
Equity in Net Earnings (Loss) |
-0.6 |
0.9 |
0.5 |
-0.2 |
-0.7 |
|
Other Non-Cash Items |
0.3 |
-0.4 |
0.5 |
-0.3 |
0.7 |
|
Non-Cash Items |
-0.2 |
9.5 |
2.2 |
0.3 |
0.8 |
|
Accounts Receivable |
-49.3 |
8.9 |
-28.0 |
-43.3 |
-36.4 |
|
Inventories |
-2.0 |
-15.7 |
-8.0 |
-5.5 |
-2.7 |
|
Accounts Payable |
26.4 |
-1.0 |
10.9 |
34.5 |
25.8 |
|
Accrued Expenses |
4.4 |
1.3 |
-3.6 |
1.2 |
4.1 |
|
Taxes Payable |
- |
-3.8 |
- |
- |
- |
|
Other Operating Cash Flow |
-10.4 |
-36.3 |
-34.3 |
-23.2 |
-18.3 |
|
Changes in Working Capital |
-30.9 |
-46.6 |
-63.1 |
-36.3 |
-27.5 |
|
Cash from Operating Activities |
16.5 |
97.7 |
51.8 |
43.6 |
11.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-16.1 |
-53.7 |
-43.3 |
-23.8 |
-11.4 |
|
Purchase/Acquisition of Intangibles |
-0.3 |
-1.6 |
-1.2 |
-1.0 |
-0.4 |
|
Capital Expenditures |
-16.4 |
-55.4 |
-44.6 |
-24.8 |
-11.8 |
|
Sale of Fixed Assets |
2.7 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Sale/Maturity of Investment |
- |
0.0 |
- |
- |
0.0 |
|
Purchase of Investments |
-0.1 |
-0.3 |
-0.2 |
-0.1 |
-0.1 |
|
Other Investing Cash Flow |
-0.1 |
0.8 |
0.6 |
0.8 |
-0.3 |
|
Other Investing Cash Flow Items, Total |
2.5 |
0.6 |
0.5 |
0.8 |
-0.3 |
|
Cash from Investing Activities |
-13.8 |
-54.7 |
-44.0 |
-24.0 |
-12.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.2 |
- |
-0.5 |
-0.3 |
-0.1 |
|
Financing Cash Flow Items |
-0.2 |
- |
-0.5 |
-0.3 |
-0.1 |
|
Cash Dividends Paid - Common |
-7.0 |
-9.9 |
-9.8 |
-4.7 |
-4.6 |
|
Total Cash Dividends Paid |
-7.0 |
-9.9 |
-9.8 |
-4.7 |
-4.6 |
|
Sale/Issuance of
Common |
0.4 |
1.4 |
1.1 |
0.6 |
0.1 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Common Stock, Net |
0.4 |
1.4 |
1.1 |
0.6 |
0.1 |
|
Issuance (Retirement) of Stock, Net |
0.4 |
1.4 |
1.1 |
0.6 |
0.1 |
|
Short Term Debt, Net |
-0.9 |
-16.0 |
-10.2 |
-1.8 |
-4.4 |
|
Long Term Debt Issued |
0.0 |
17.5 |
17.3 |
16.9 |
16.3 |
|
Long Term Debt
Reduction |
-2.3 |
-8.4 |
-6.3 |
-3.9 |
-2.4 |
|
Long Term Debt, Net |
-2.3 |
9.1 |
11.0 |
13.0 |
13.9 |
|
Issuance (Retirement) of Debt, Net |
-3.2 |
-6.9 |
0.8 |
11.2 |
9.5 |
|
Cash from Financing Activities |
-9.9 |
-15.4 |
-8.3 |
6.7 |
4.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
1.0 |
-1.4 |
-0.9 |
-0.9 |
0.5 |
|
Net Change in Cash |
-6.2 |
26.2 |
-1.5 |
25.4 |
4.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
86.9 |
56.6 |
55.8 |
54.5 |
52.6 |
|
Net Cash - Ending Balance |
80.7 |
82.8 |
54.3 |
79.9 |
57.2 |
|
Cash Interest Paid |
0.2 |
1.2 |
1.0 |
0.7 |
0.4 |
|
Cash Taxes Paid |
16.9 |
32.0 |
31.1 |
17.6 |
20.8 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
116.944303 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
|
Total Revenue |
1,016.1 |
929.4 |
856.3 |
804.6 |
754.2 |
|
|
|
|
|
|
|
|
Cost of Sales |
794.2 |
727.8 |
690.9 |
651.6 |
600.8 |
|
Payrolls |
46.9 |
43.5 |
37.4 |
37.9 |
35.1 |
|
Provision for bonuses |
4.7 |
3.8 |
3.1 |
2.5 |
2.5 |
|
Periodic retirement benefit costs |
1.1 |
0.9 |
0.7 |
0.5 |
0.6 |
|
Freight and transporation fee |
15.8 |
14.2 |
14.4 |
11.7 |
- |
|
Prov. for doubtful accounts |
0.2 |
0.8 |
0.8 |
0.4 |
- |
|
R&D expenses |
24.6 |
19.1 |
- |
- |
- |
|
Other general expenses |
37.7 |
35.3 |
49.8 |
52.8 |
61.2 |
|
SP Reversal G on allow.doubt.accounts |
0.0 |
0.0 |
0.0 |
0.0 |
-0.2 |
|
SP Government subsidy |
- |
- |
- |
0.0 |
-0.7 |
|
SP Compensation on relocation |
- |
0.0 |
-0.1 |
0.0 |
- |
|
SP Other special gain |
0.0 |
-0.2 |
0.0 |
0.0 |
- |
|
SP Assets impairment losses |
0.0 |
0.7 |
0.3 |
0.0 |
0.0 |
|
SP Retirement benefit expenses |
0.0 |
3.9 |
0.0 |
- |
- |
|
SP U.S Levy |
- |
- |
- |
0.0 |
0.5 |
|
SP Loss Valu. Inv. Secs |
- |
0.0 |
0.8 |
0.0 |
- |
|
SP L on closure of factory |
- |
0.0 |
4.0 |
2.8 |
0.0 |
|
SP Allow.Doubtful Acct. |
- |
- |
0.0 |
0.8 |
0.0 |
|
SP Loss on disaster |
3.9 |
0.0 |
- |
- |
- |
|
SP L on adjust. for change of accounting |
0.2 |
0.0 |
- |
- |
- |
|
SP Amort. of pri. sev.C on rev.of pen.p. |
- |
- |
0.0 |
1.0 |
0.0 |
|
SP Additional Retire.Bene. |
- |
- |
0.0 |
0.8 |
0.5 |
|
SP Claim settlement |
- |
- |
- |
- |
0.0 |
|
SP Other Special Loss |
0.7 |
0.3 |
0.1 |
0.6 |
0.0 |
|
NOP Loss on retirement of inventories |
- |
- |
- |
- |
0.0 |
|
Total Operating Expense |
929.9 |
850.0 |
802.0 |
763.4 |
700.3 |
|
|
|
|
|
|
|
|
NOP Interest Income |
0.5 |
0.1 |
0.2 |
0.2 |
0.2 |
|
NOP Dividend Income |
0.3 |
0.2 |
0.2 |
0.1 |
0.1 |
|
NOP Equity Gain |
0.0 |
1.8 |
1.1 |
0.3 |
2.0 |
|
NOP Exchange Gain |
- |
- |
- |
0.0 |
3.0 |
|
NOP G on recycle of waste |
0.7 |
0.3 |
0.9 |
0.8 |
0.0 |
|
NOP Compansation of Office Relocation |
0.4 |
0.0 |
- |
- |
- |
|
NOP Other non-operating income |
0.7 |
1.0 |
1.2 |
0.4 |
1.2 |
|
NOP Interest expenses |
-1.2 |
-1.8 |
-1.6 |
-2.7 |
-2.0 |
|
NOP Amort.of development stage expenses |
- |
- |
- |
0.0 |
-0.8 |
|
NOP Exchange Loss |
-0.8 |
-3.3 |
-0.8 |
-2.1 |
0.0 |
|
NOP Equity Loss |
-0.9 |
0.0 |
- |
- |
- |
|
NOP Other non-operating expenses |
0.0 |
-0.2 |
-0.2 |
-0.1 |
-0.5 |
|
SP Gain-Sale Fixed Assets |
0.0 |
0.2 |
0.2 |
4.6 |
0.1 |
|
SP Gain on transfer of business |
- |
- |
- |
- |
0.0 |
|
SP G.Sale Inv.Secs. |
- |
- |
- |
0.0 |
0.4 |
|
SP Sale&Write Off Fixed Assets |
-4.9 |
-3.2 |
-1.2 |
-3.5 |
-0.3 |
|
Net Income Before Taxes |
80.8 |
74.7 |
54.3 |
39.1 |
57.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
28.3 |
19.9 |
19.4 |
17.8 |
27.0 |
|
Net Income After Taxes |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Extra. Items |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
Net Income |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Adjutment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
28.1 |
28.1 |
28.9 |
29.5 |
30.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Basic EPS Including ExtraOrdinary Item |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
52.5 |
54.8 |
34.9 |
21.3 |
30.3 |
|
Diluted Weighted Average Shares |
28.1 |
28.1 |
28.9 |
29.5 |
30.1 |
|
Diluted EPS Excluding ExtraOrd Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
Diluted EPS Including ExtraOrd Items |
1.87 |
1.95 |
1.21 |
0.72 |
1.01 |
|
DPS-Common Stock |
0.41 |
0.32 |
0.30 |
0.26 |
0.26 |
|
Gross Dividends - Common Stock |
11.6 |
9.1 |
8.6 |
7.7 |
7.7 |
|
Normalized Income Before Taxes |
91.2 |
83.4 |
61.6 |
46.1 |
59.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
31.7 |
21.9 |
21.6 |
20.1 |
27.2 |
|
Normalized Income After Taxes |
59.5 |
61.4 |
40.1 |
26.1 |
32.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
59.5 |
61.4 |
40.1 |
26.1 |
32.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.12 |
2.19 |
1.39 |
0.89 |
1.07 |
|
Diluted Normalized EPS |
2.12 |
2.19 |
1.39 |
0.89 |
1.07 |
|
R&D expenses(SGA+COGS) |
24.6 |
19.1 |
17.4 |
17.6 |
17.6 |
|
Interest Expense |
1.2 |
1.8 |
1.6 |
2.7 |
2.0 |
|
Depreciation |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Amort of goodwill |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Reported operating profit |
91.0 |
84.1 |
59.3 |
47.1 |
54.0 |
|
Reported ordinary profit |
90.6 |
82.3 |
60.3 |
44.0 |
57.3 |
|
Service cost |
1.3 |
1.5 |
1.2 |
1.3 |
1.5 |
|
Interest cost |
1.7 |
1.7 |
1.5 |
1.5 |
1.3 |
|
Expected return on plan assets |
-1.3 |
-1.4 |
-1.4 |
-1.5 |
-1.1 |
|
Actuarial gains and losses |
0.9 |
1.0 |
0.5 |
0.2 |
0.2 |
|
Prior Service Cost - Domestic |
0.3 |
0.2 |
0.0 |
- |
- |
|
Pension Exp. due to Acct. Changes |
0.0 |
3.9 |
0.0 |
- |
- |
|
Additional retirement benefits |
- |
- |
0.0 |
0.8 |
0.5 |
|
Amort. prior service cost - overseas sys |
- |
- |
0.0 |
1.0 |
0.0 |
|
Domestic Pension Plan Expense |
2.9 |
6.9 |
1.8 |
3.3 |
2.3 |
|
Defined Contribution Expense |
1.2 |
0.0 |
- |
- |
- |
|
Total Pension Expense |
4.1 |
6.9 |
1.8 |
3.3 |
2.3 |
|
Discount rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount rate - Foreign |
5.80% |
5.80% |
6.25% |
6.00% |
6.00% |
|
Expected rate of return - Domestic |
0.00% |
1.00% |
1.00% |
1.00% |
1.00% |
|
Expected rate of return - Foreign |
8.50% |
6.25% |
8.50% |
8.50% |
8.50% |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.605269 |
82.241044 |
82.567473 |
85.838925 |
92.080323 |
|
|
|
|
|
|
|
|
Net Sales |
288.7 |
238.5 |
251.1 |
274.1 |
251.9 |
|
Total Revenue |
288.7 |
238.5 |
251.1 |
274.1 |
251.9 |
|
|
|
|
|
|
|
|
Cost of Sales |
221.0 |
190.7 |
197.9 |
213.0 |
192.6 |
|
Payrolls |
11.3 |
15.9 |
10.9 |
10.5 |
9.8 |
|
Provision for bonuses |
2.3 |
- |
2.1 |
2.2 |
2.1 |
|
Periodic retirement benefit costs |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Packing & freight-out costs |
- |
16.4 |
- |
- |
- |
|
Provision for Doubtful Accounts |
0.1 |
- |
0.1 |
0.5 |
0.1 |
|
Other general expenses |
20.6 |
-0.4 |
21.6 |
18.0 |
20.0 |
|
SP Rev.Allow.Doubt.Acct |
- |
- |
0.0 |
-0.1 |
- |
|
SP Other Gains |
- |
0.0 |
0.0 |
- |
0.0 |
|
SP L-adjust. for change of accts. assets |
0.0 |
0.0 |
- |
- |
0.2 |
|
SP Impairment Loss |
- |
0.0 |
- |
0.0 |
- |
|
SP Retirement benefit expenses |
- |
0.0 |
- |
0.0 |
- |
|
SP Other Losses |
- |
4.6 |
0.0 |
0.3 |
- |
|
Total Operating Expense |
255.5 |
227.6 |
233.1 |
244.6 |
225.0 |
|
|
|
|
|
|
|
|
NOP Interest Income |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
NOP Dividend Income |
0.2 |
0.0 |
0.1 |
0.0 |
0.1 |
|
NOP Equity Gain |
0.6 |
- |
0.0 |
0.0 |
0.7 |
|
NOP Exchange Gain |
- |
- |
0.1 |
0.1 |
0.0 |
|
NOP Office relocation expenses |
0.0 |
0.0 |
- |
0.0 |
0.3 |
|
NOP Other income |
0.5 |
0.2 |
0.6 |
0.4 |
0.3 |
|
NOP Interest Expense |
-0.2 |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
|
NOP Exchange Loss |
0.0 |
-0.1 |
0.0 |
0.0 |
-0.8 |
|
NOP Equity losses |
- |
-0.4 |
-0.8 |
-0.5 |
- |
|
NOP Other expense |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
SP Gain-Sale Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP L on sale/retire. of fixed assets |
-0.1 |
-4.0 |
-0.4 |
0.0 |
-0.6 |
|
Net Income Before Taxes |
34.3 |
6.5 |
17.3 |
29.2 |
26.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
12.4 |
1.0 |
6.4 |
12.5 |
8.1 |
|
Net Income After Taxes |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
Net Income |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
|
|
|
|
|
|
|
Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.78 |
0.20 |
0.39 |
0.60 |
0.66 |
|
Basic EPS Including ExtraOrdinary Item |
0.78 |
0.20 |
0.39 |
0.60 |
0.66 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
21.9 |
5.5 |
10.9 |
16.8 |
18.6 |
|
Diluted Weighted Average Shares |
28.1 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.78 |
0.20 |
0.39 |
0.60 |
0.66 |
|
Diluted EPS Including ExtraOrd Items |
0.78 |
0.20 |
0.39 |
0.60 |
0.66 |
|
DPS-Common Stock |
0.00 |
0.24 |
0.00 |
0.17 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
6.9 |
0.0 |
5.0 |
0.0 |
|
Normalized Income Before Taxes |
34.6 |
15.4 |
17.9 |
29.6 |
27.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
12.4 |
2.4 |
6.6 |
12.5 |
8.3 |
|
Normalized Income After Taxes |
22.2 |
13.0 |
11.3 |
17.0 |
19.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
22.2 |
13.0 |
11.3 |
17.0 |
19.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.79 |
0.46 |
0.40 |
0.61 |
0.69 |
|
Diluted Normalized EPS |
0.79 |
0.46 |
0.40 |
0.61 |
0.69 |
|
Interest Expense |
0.2 |
0.2 |
0.3 |
0.3 |
0.3 |
|
Depreciation |
13.1 |
14.8 |
15.1 |
12.3 |
11.2 |
|
Amort of goodwill |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Reported Operating Profit |
33.1 |
15.5 |
18.0 |
29.7 |
27.0 |
|
Reported Ordinary Profit |
34.4 |
15.2 |
17.7 |
29.4 |
27.4 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.88 |
93.44 |
98.77 |
99.535 |
118.075 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
95.1 |
58.4 |
60.4 |
49.8 |
26.6 |
|
Accounts & notes receivable, gross |
233.2 |
237.4 |
213.4 |
231.6 |
199.4 |
|
Inventory |
- |
- |
- |
- |
60.8 |
|
Electronically Recorded Monetary |
14.5 |
0.0 |
- |
- |
- |
|
Inventories - merch.&finished goods |
40.8 |
31.3 |
32.7 |
37.0 |
- |
|
Inventories - work-in-process |
18.4 |
13.7 |
16.6 |
21.4 |
- |
|
Inventories -supplies&raw materials |
26.8 |
21.9 |
20.3 |
20.1 |
- |
|
Deferred Tax |
13.7 |
8.0 |
4.6 |
3.8 |
4.4 |
|
Advance Money |
- |
- |
- |
- |
0.0 |
|
Prepaid Expense |
- |
1.9 |
2.2 |
2.0 |
1.8 |
|
Other Assets |
19.1 |
11.1 |
12.0 |
21.8 |
17.1 |
|
Doubtful Account |
-0.7 |
-0.8 |
-0.9 |
-1.1 |
-0.9 |
|
Total Current Assets |
461.0 |
382.9 |
361.3 |
386.5 |
309.3 |
|
|
|
|
|
|
|
|
Build.&Structure |
181.2 |
157.6 |
146.6 |
157.3 |
121.9 |
|
Build.&Structure-Depreciation |
-80.5 |
-67.7 |
-58.6 |
-60.9 |
- |
|
Machine.&Vehicle |
518.5 |
463.8 |
398.2 |
442.7 |
368.8 |
|
Machine.&Vehicle-Depreciation |
-320.7 |
-271.5 |
-231.4 |
-246.6 |
- |
|
Land |
60.5 |
48.9 |
46.0 |
43.8 |
39.9 |
|
Lease Assets |
2.8 |
2.6 |
1.5 |
0.0 |
- |
|
Lease Assets-Depreciation |
-1.2 |
-1.0 |
-0.5 |
0.0 |
- |
|
Const. Progress |
15.3 |
26.4 |
33.3 |
33.7 |
11.8 |
|
Other PP & E |
26.7 |
24.9 |
23.2 |
25.6 |
21.1 |
|
Other PP & E-Depreciation |
-21.0 |
-20.2 |
-18.5 |
-19.4 |
- |
|
Depreciation |
- |
- |
- |
- |
-259.2 |
|
Goodwill |
0.9 |
1.4 |
2.3 |
4.8 |
2.7 |
|
Lease Assets |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Other Intangible |
7.2 |
8.3 |
8.5 |
9.4 |
6.0 |
|
Investment Secs |
32.6 |
31.5 |
25.3 |
29.5 |
27.7 |
|
LT Loan |
- |
0.3 |
0.3 |
0.3 |
0.3 |
|
Deferred Tax |
7.7 |
7.5 |
4.3 |
4.5 |
3.3 |
|
Other Assets |
6.5 |
7.7 |
7.0 |
11.3 |
11.2 |
|
Doubtful Account |
-0.2 |
-0.3 |
-1.2 |
-2.2 |
-1.5 |
|
Total Assets |
897.4 |
802.9 |
747.6 |
820.1 |
663.1 |
|
|
|
|
|
|
|
|
Note&Acct. Pybl. |
170.2 |
155.5 |
154.0 |
153.4 |
127.2 |
|
ST Borrowing |
34.4 |
45.3 |
78.6 |
94.4 |
42.4 |
|
Cur. Port. Debt |
7.4 |
6.8 |
7.5 |
9.8 |
10.3 |
|
Lease Liabilities |
0.7 |
0.5 |
0.3 |
0.0 |
- |
|
Other accounts payable |
31.6 |
27.4 |
19.0 |
27.7 |
21.5 |
|
Tax Payable |
10.1 |
15.3 |
10.9 |
3.9 |
12.7 |
|
Deferred tax liabilities (current) |
0.0 |
0.0 |
0.0 |
0.2 |
0.1 |
|
Bonus Allowance |
10.6 |
8.4 |
8.3 |
8.0 |
6.8 |
|
Other Liability |
16.9 |
21.7 |
23.8 |
28.9 |
19.7 |
|
Total Current Liabilities |
282.0 |
280.9 |
302.4 |
326.3 |
240.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
20.1 |
10.2 |
15.9 |
7.7 |
9.1 |
|
Lease Liabilities |
1.1 |
1.1 |
0.7 |
0.0 |
- |
|
Total Long Term Debt |
21.2 |
11.3 |
16.6 |
7.7 |
9.1 |
|
|
|
|
|
|
|
|
Allow.Accr.Retir |
15.2 |
15.4 |
11.7 |
7.8 |
8.9 |
|
Deferred tax liabilities (non-current) |
11.7 |
2.2 |
1.0 |
2.0 |
1.3 |
|
Assets Retirement Obligation |
0.6 |
0.0 |
- |
- |
- |
|
Other Liability |
0.7 |
0.5 |
0.3 |
0.5 |
0.6 |
|
Total Liabilities |
331.3 |
310.3 |
331.9 |
344.3 |
260.6 |
|
|
|
|
|
|
|
|
Common Stock |
72.3 |
64.1 |
60.6 |
60.2 |
50.7 |
|
Paid-In Capital |
75.2 |
66.7 |
63.1 |
62.6 |
52.8 |
|
Retained Earning |
554.1 |
452.8 |
385.3 |
357.8 |
288.5 |
|
Treasury Stock |
-46.3 |
-42.6 |
-40.3 |
-19.9 |
-0.7 |
|
Unrealized Gains |
0.0 |
0.8 |
0.0 |
1.6 |
2.5 |
|
Min.Pension Adju |
-8.5 |
-8.8 |
-8.5 |
-5.0 |
-4.1 |
|
Deferred gains or losses on hedges |
0.0 |
0.0 |
- |
- |
- |
|
Foreign Cur. Adj |
-80.7 |
-40.3 |
-44.6 |
18.7 |
12.8 |
|
Total Equity |
566.1 |
492.6 |
415.7 |
475.9 |
402.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
897.4 |
802.9 |
747.6 |
820.1 |
663.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
28.1 |
28.1 |
28.1 |
29.4 |
30.1 |
|
Total Common Shares Outstanding |
28.1 |
28.1 |
28.1 |
29.4 |
30.1 |
|
T/S-Common Stock |
1.9 |
2.0 |
2.0 |
0.7 |
0.0 |
|
Full-Time Employees |
2,577 |
2,483 |
2,368 |
2,512 |
2,327 |
|
Number of Common Shareholders |
3,918 |
3,909 |
3,995 |
4,360 |
4,405 |
|
Long Term Debt Within 1 Year |
7.4 |
6.8 |
7.5 |
9.8 |
10.3 |
|
Long Term Debt Within 2 Years |
5.6 |
5.9 |
6.4 |
6.6 |
5.8 |
|
Long Term Debt Within 3 Years |
11.1 |
4.1 |
5.5 |
0.8 |
3.2 |
|
Long Term Debt Within 4 Years |
1.5 |
0.0 |
3.9 |
0.0 |
0.0 |
|
Long Term Debt Within 5 Years |
2.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Remaining |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Total Long Term Debt, Supplemental |
27.5 |
17.0 |
23.3 |
17.4 |
19.4 |
|
Long Term Debt Within 1 Year |
0.7 |
0.5 |
0.3 |
- |
- |
|
Long Term Debt Within 2 Years |
0.6 |
0.5 |
0.2 |
- |
- |
|
Long Term Debt Within 3 Years |
0.3 |
0.4 |
0.2 |
- |
- |
|
Long Term Debt Within 4 Years |
0.1 |
0.2 |
0.2 |
- |
- |
|
Long Term Debt Within 5 Years |
0.1 |
0.0 |
0.1 |
- |
- |
|
Remaining |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Capital Leases |
1.7 |
1.6 |
1.1 |
- |
- |
|
Pension obligation |
39.6 |
36.8 |
38.0 |
41.6 |
32.6 |
|
Fair value of plan asset |
20.2 |
16.8 |
23.2 |
32.4 |
24.5 |
|
Funded status |
-19.4 |
-20.0 |
-14.8 |
-9.2 |
-8.1 |
|
Total Funded Status |
-19.4 |
-20.0 |
-14.8 |
-9.2 |
-8.1 |
|
Discount rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount rate - Foreign |
5.80% |
5.80% |
6.25% |
6.00% |
6.00% |
|
Expected rate of return - Domestic |
0.00% |
1.00% |
1.00% |
1.00% |
1.00% |
|
Expected rate of return - Foreign |
8.50% |
6.25% |
8.50% |
8.50% |
8.50% |
|
Unrecognized actuarial gains and losses |
9.9 |
10.6 |
12.2 |
7.0 |
3.8 |
|
Unrecognized prior service cost |
2.9 |
2.8 |
0.0 |
- |
- |
|
Least Recognized Plan Assets Debts |
- |
- |
- |
0.0 |
-4.6 |
|
Adjustment to pension obligations |
-8.5 |
-8.8 |
-9.1 |
-5.6 |
0.0 |
|
Reserve for accrued retirement benefits |
-15.2 |
-15.4 |
-11.7 |
-7.8 |
-8.9 |
|
Net Assets Recognized on Balance Sheet |
-10.9 |
-10.8 |
-8.6 |
-6.4 |
-9.7 |
Interim Balance Sheet
As Reported
|
Financials in:
USD (mil) Except for share
items (millions) and per share items (actual units) |
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
80.76 |
82.88 |
81.105 |
83.54 |
88.49 |
|
|
|
|
|
|
|
|
Cash & Deposit |
90.0 |
95.1 |
72.2 |
96.2 |
69.3 |
|
Accounts & notes receivable, gross |
290.2 |
233.2 |
294.9 |
302.8 |
286.6 |
|
Electronically Recorded Monetary |
18.0 |
14.5 |
- |
- |
- |
|
Inventories - merch.&finished goods |
38.9 |
40.8 |
34.4 |
32.3 |
32.4 |
|
Inventories - work-in-process |
23.6 |
18.4 |
22.1 |
19.0 |
16.5 |
|
Inventories -supplies&raw materials |
29.6 |
26.8 |
25.8 |
26.7 |
24.4 |
|
Deferred tax assets |
16.6 |
13.7 |
6.2 |
9.2 |
10.4 |
|
Prepaid expenses |
- |
- |
- |
3.5 |
- |
|
Other |
30.0 |
19.1 |
18.0 |
17.0 |
24.2 |
|
Allowance for doubtful accounts |
-0.5 |
-0.7 |
-1.0 |
-0.9 |
-0.7 |
|
Total Current Assets |
536.3 |
461.0 |
472.6 |
505.9 |
463.2 |
|
|
|
|
|
|
|
|
Build.&Structure, net |
108.5 |
100.7 |
103.8 |
99.8 |
94.6 |
|
Machine.&Vehicle, net |
204.2 |
197.8 |
213.7 |
211.8 |
197.0 |
|
Land, net |
59.7 |
60.5 |
62.1 |
53.7 |
51.5 |
|
Lease assets, net |
1.5 |
1.6 |
1.7 |
1.8 |
1.6 |
|
Const. Progress, net |
17.2 |
15.3 |
12.0 |
15.4 |
37.2 |
|
Other PP & E, Net |
5.9 |
5.8 |
5.9 |
5.6 |
5.3 |
|
Goodwill |
0.7 |
0.9 |
1.1 |
1.2 |
1.3 |
|
Lease assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other intangible assets |
6.9 |
7.2 |
7.8 |
8.2 |
8.2 |
|
Investment Secs. |
33.4 |
32.6 |
33.7 |
34.2 |
32.4 |
|
Deferred tax assets |
8.2 |
7.7 |
6.9 |
6.4 |
7.8 |
|
Other assets |
6.6 |
6.5 |
7.0 |
6.8 |
8.1 |
|
Allowance for doubtful accounts |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
-0.3 |
|
Total Assets |
989.0 |
897.4 |
928.2 |
950.8 |
907.9 |
|
|
|
|
|
|
|
|
Note&Acct. Pybl. |
187.4 |
170.2 |
189.5 |
207.2 |
190.6 |
|
Electronically recorded obligations-oper |
17.4 |
- |
- |
- |
- |
|
ST Borrowing |
33.9 |
34.4 |
45.8 |
50.7 |
45.7 |
|
Cur. Port. LT Debt |
7.7 |
7.4 |
7.7 |
7.8 |
7.7 |
|
Lease obligations |
0.7 |
0.7 |
0.7 |
0.7 |
0.6 |
|
Other accounts payable |
26.8 |
31.6 |
23.5 |
27.1 |
30.1 |
|
Tax Payable |
12.5 |
10.1 |
5.0 |
17.5 |
10.4 |
|
Deferred tax liabilities |
- |
0.0 |
0.1 |
0.0 |
0.0 |
|
Bonus Allowance |
15.4 |
10.6 |
5.6 |
10.6 |
13.1 |
|
Other Current Liabilities |
28.9 |
16.9 |
20.3 |
23.6 |
31.1 |
|
Total Current Liabilities |
330.6 |
282.0 |
298.2 |
345.2 |
329.3 |
|
|
|
|
|
|
|
|
Long Term Debt |
18.5 |
20.1 |
22.3 |
24.3 |
24.9 |
|
Lease obligations |
1.0 |
1.1 |
1.2 |
1.3 |
1.1 |
|
Total Long Term Debt |
19.4 |
21.2 |
23.4 |
25.5 |
26.0 |
|
|
|
|
|
|
|
|
Deferred tax liabilities |
14.3 |
11.7 |
7.3 |
5.2 |
2.1 |
|
Allow.Accr.Retir. |
16.6 |
15.2 |
16.7 |
15.7 |
16.9 |
|
Asset retirement obligations |
0.6 |
0.6 |
0.6 |
0.6 |
0.5 |
|
Other Long-term liabilities |
0.6 |
0.7 |
0.5 |
0.5 |
0.5 |
|
Total Liabilities |
382.2 |
331.3 |
346.7 |
392.7 |
375.3 |
|
|
|
|
|
|
|
|
Common Stock |
74.2 |
72.3 |
73.9 |
71.7 |
67.7 |
|
Paid-In Capital |
77.2 |
75.2 |
76.9 |
74.6 |
70.1 |
|
Retained earnings |
583.7 |
554.1 |
560.6 |
538.6 |
492.4 |
|
Treasury Stock |
-47.1 |
-46.3 |
-47.6 |
-46.8 |
-44.6 |
|
Reserve by val. of investment sec. |
0.2 |
0.0 |
0.3 |
0.4 |
0.5 |
|
Deferred gains or losses on hedges |
0.0 |
0.0 |
0.0 |
- |
- |
|
Pension obligation adjustments |
-8.9 |
-8.5 |
-9.3 |
-9.5 |
-9.4 |
|
Cumulative translation adjustments |
-72.5 |
-80.7 |
-73.3 |
-71.0 |
-44.0 |
|
Total Equity |
606.8 |
566.1 |
581.4 |
558.1 |
532.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
989.0 |
897.4 |
928.2 |
950.8 |
907.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
28.2 |
28.1 |
28.1 |
28.1 |
28.1 |
|
Total Common Shares Outstanding |
28.2 |
28.1 |
28.1 |
28.1 |
28.1 |
|
T/S-Common Stock |
1.9 |
1.9 |
2.0 |
2.0 |
2.0 |
|
Full-Time Employees |
- |
2,577 |
2,591 |
2,585 |
2,548 |
Annual Cash Flows
As Reported
|
Financials in:
USD (mil) Except for share
items (millions) and per share items (actual units) |
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
116.944303 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Misuzu Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
80.8 |
74.7 |
54.3 |
39.1 |
57.3 |
|
Depreciation |
53.2 |
47.8 |
44.3 |
40.4 |
33.2 |
|
Impairment losses on assets |
0.0 |
0.7 |
0.3 |
0.0 |
0.0 |
|
L on Adjust, for change of accounting |
0.2 |
0.0 |
- |
- |
- |
|
Amort of goodwill |
0.7 |
1.1 |
1.4 |
2.2 |
1.7 |
|
Allow. Doubtful Acct |
-0.2 |
-1.1 |
-0.9 |
0.4 |
0.0 |
|
Bonus Allowance |
1.3 |
-0.4 |
0.4 |
-0.1 |
0.3 |
|
Allow. Accr. Retire. |
-0.6 |
3.2 |
-0.1 |
-2.6 |
-0.7 |
|
Allow. Director |
- |
- |
- |
- |
0.0 |
|
Equity Gain/Loss |
0.9 |
-1.8 |
-1.1 |
-0.3 |
-2.0 |
|
Sale Fixed Assets |
0.0 |
-0.2 |
-0.2 |
-4.6 |
-0.1 |
|
Sale&Write Off Fixed Assets |
4.9 |
3.0 |
1.0 |
3.5 |
0.3 |
|
L.Val.Inv.Secs. |
- |
0.0 |
0.8 |
0.0 |
- |
|
Loss on disaster |
3.9 |
0.0 |
- |
- |
- |
|
L on closure of factory |
- |
0.0 |
1.2 |
2.3 |
0.0 |
|
Gains on transfer of business |
- |
- |
- |
- |
0.0 |
|
Claim settlement |
- |
- |
- |
- |
0.0 |
|
Interest &Dividend |
-0.7 |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
|
Interest Expense |
1.2 |
1.8 |
1.6 |
2.7 |
2.0 |
|
Exchange Gain/Loss |
-0.1 |
0.1 |
1.7 |
1.3 |
-0.9 |
|
Account Receivable |
8.9 |
-10.1 |
-6.5 |
5.3 |
-4.7 |
|
Inventory |
-15.7 |
7.5 |
0.3 |
-5.0 |
-0.1 |
|
Account Payable |
-0.1 |
-8.2 |
15.6 |
2.6 |
-7.7 |
|
Other Payable |
-0.9 |
5.4 |
-6.2 |
2.9 |
-4.6 |
|
Sale Tax Payable |
-3.8 |
2.0 |
0.8 |
-0.2 |
-0.9 |
|
Other |
-2.8 |
-0.4 |
4.1 |
4.6 |
-2.7 |
|
Int.&Divid. Received |
0.6 |
0.4 |
0.4 |
0.4 |
0.3 |
|
Interest expenses paid |
-1.2 |
-1.9 |
-1.6 |
-2.7 |
-2.0 |
|
Income tax (paid) refund |
-32.0 |
-22.8 |
-11.0 |
-27.7 |
-23.4 |
|
Payments for loss on disaster |
-0.9 |
0.0 |
- |
- |
- |
|
Claim settlement paid |
- |
- |
- |
- |
0.0 |
|
Adjustment |
0.0 |
- |
- |
0.0 |
0.0 |
|
Cash from Operating Activities |
97.7 |
100.3 |
100.0 |
64.2 |
44.9 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-53.7 |
-45.9 |
-66.3 |
-54.4 |
-78.7 |
|
Sale of PPE |
0.1 |
0.7 |
1.6 |
8.6 |
0.3 |
|
Purch, Intangible |
-1.6 |
-1.7 |
-1.8 |
-4.4 |
-1.4 |
|
Purch. Inv. Secs. |
-0.3 |
-1.3 |
-0.2 |
-1.0 |
-1.1 |
|
Sale LT inv't in sec. |
0.0 |
0.1 |
0.0 |
0.0 |
0.6 |
|
Loan Made |
-0.1 |
-0.1 |
-0.1 |
-0.3 |
-0.9 |
|
Loan Collected |
0.1 |
0.1 |
0.2 |
1.2 |
0.2 |
|
Purchase of businesses |
- |
- |
0.0 |
-7.5 |
0.0 |
|
Purch. LT Prepaid |
-0.5 |
-1.2 |
-0.1 |
-0.3 |
-1.3 |
|
Other |
1.3 |
-0.3 |
2.3 |
0.6 |
0.8 |
|
Cash from Investing Activities |
-54.7 |
-49.6 |
-64.4 |
-57.5 |
-81.5 |
|
|
|
|
|
|
|
|
Increase (decrease) in ST loans |
-16.0 |
-40.8 |
- |
- |
- |
|
Proc. ST Debt |
- |
- |
19.9 |
32.1 |
59.8 |
|
Repaid ST Debt |
- |
- |
-10.4 |
-6.2 |
-41.0 |
|
Proc. LT Debt |
17.5 |
0.0 |
16.3 |
7.9 |
7.7 |
|
Repaid LT Debt |
-7.8 |
-8.1 |
-8.6 |
-12.4 |
-8.6 |
|
Treasury stock purchased |
0.0 |
0.0 |
-19.9 |
-16.6 |
0.0 |
|
Proceeds from sales of treasury stock |
1.4 |
0.0 |
- |
- |
- |
|
Repaid Finance.Lease |
-0.6 |
-0.5 |
-0.3 |
-0.2 |
-0.2 |
|
Dividend Paid |
-9.9 |
-9.1 |
-8.8 |
-7.8 |
-6.4 |
|
Other |
- |
- |
- |
0.0 |
0.0 |
|
Cash from Financing Activities |
-15.4 |
-58.4 |
-11.7 |
-3.3 |
11.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.4 |
0.3 |
0.6 |
-0.3 |
2.0 |
|
Net Change in Cash |
26.2 |
-7.4 |
24.5 |
3.1 |
-23.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
56.6 |
59.6 |
30.6 |
23.8 |
46.6 |
|
Net Cash - Ending Balance |
82.8 |
52.1 |
55.1 |
26.9 |
23.3 |
|
Cash Interest Paid |
1.2 |
1.9 |
1.6 |
2.7 |
2.0 |
|
Cash Taxes Paid |
32.0 |
22.8 |
11.0 |
27.7 |
23.4 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.605269 |
85.691434 |
86.812446 |
88.962162 |
92.080323 |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
34.3 |
80.8 |
73.6 |
55.8 |
26.6 |
|
Depreciation |
13.1 |
53.2 |
38.5 |
23.5 |
11.2 |
|
Impairment Loss |
- |
0.0 |
0.0 |
0.0 |
- |
|
Amort of goodwill |
0.2 |
0.7 |
0.5 |
0.3 |
0.2 |
|
L-adjust. for change of accts. assets |
0.0 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Allow. Doubtful Acct |
-0.2 |
-0.2 |
0.1 |
-0.1 |
-0.2 |
|
Bonus Allowance |
4.4 |
1.3 |
-3.6 |
1.2 |
4.1 |
|
Allow. Accr. Retire. |
0.7 |
-0.6 |
-0.1 |
-0.7 |
0.6 |
|
Equity Gains/Losses |
-0.6 |
0.9 |
0.5 |
-0.2 |
-0.7 |
|
Sale Fixed Assets |
- |
0.0 |
- |
- |
- |
|
Sale/retire. of fixed assets |
0.1 |
4.9 |
1.1 |
0.6 |
0.6 |
|
Loss on disaster |
- |
3.9 |
- |
- |
- |
|
Interest &Dividend Income |
-0.4 |
-0.7 |
-0.6 |
-0.4 |
-0.2 |
|
Interest Expense |
0.2 |
1.2 |
1.0 |
0.7 |
0.3 |
|
Exchange Gain/Loss |
0.0 |
-0.1 |
0.1 |
0.1 |
0.1 |
|
Account Receivable |
-49.3 |
8.9 |
-28.0 |
-43.3 |
-36.4 |
|
Inventory |
-2.0 |
-15.7 |
-8.0 |
-5.5 |
-2.7 |
|
Account Payable |
27.9 |
-0.1 |
13.3 |
34.9 |
26.1 |
|
Other Payable |
-1.5 |
-0.9 |
-2.4 |
-0.5 |
-0.4 |
|
Sale Tax Payable |
- |
-3.8 |
- |
- |
- |
|
Other |
7.2 |
-2.8 |
-2.6 |
-5.3 |
2.6 |
|
Int.&Divid. Received |
0.3 |
0.6 |
0.5 |
0.3 |
0.2 |
|
Interest Paid |
-0.2 |
-1.2 |
-1.0 |
-0.7 |
-0.4 |
|
Payments for loss on disaster |
-0.8 |
-0.9 |
- |
- |
0.0 |
|
Income tax (paid) refund |
-16.9 |
-32.0 |
-31.1 |
-17.6 |
-20.8 |
|
Adjustment |
- |
0.0 |
- |
- |
- |
|
Cash from Operating Activities |
16.5 |
97.7 |
51.8 |
43.6 |
11.3 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-16.1 |
-53.7 |
-43.3 |
-23.8 |
-11.4 |
|
Sale of PPE |
2.7 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Purch. Intangible |
-0.3 |
-1.6 |
-1.2 |
-1.0 |
-0.4 |
|
Purch. Inv. Secs. |
-0.1 |
-0.3 |
-0.2 |
-0.1 |
-0.1 |
|
Sale Inv. Secs. |
- |
0.0 |
- |
- |
0.0 |
|
Loan Made |
- |
-0.1 |
- |
- |
- |
|
Loan Collected |
- |
0.1 |
- |
- |
- |
|
Purch. LT Prepaid |
- |
-0.5 |
- |
- |
- |
|
Other |
-0.1 |
1.3 |
0.6 |
0.8 |
-0.3 |
|
Cash from Investing Activities |
-13.8 |
-54.7 |
-44.0 |
-24.0 |
-12.2 |
|
|
|
|
|
|
|
|
ST Debt, net |
-0.9 |
-16.0 |
-10.2 |
-1.8 |
-4.4 |
|
LT debts, issued |
0.0 |
17.5 |
17.3 |
16.9 |
16.3 |
|
LT debts, repaid |
-2.3 |
-7.8 |
-6.3 |
-3.9 |
-2.4 |
|
Treasury stock purchased |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Treasury stock sold |
0.4 |
1.4 |
1.1 |
0.6 |
0.1 |
|
Repaid Finance.Lease |
- |
-0.6 |
- |
- |
- |
|
Dividend Paid |
-7.0 |
-9.9 |
-9.8 |
-4.7 |
-4.6 |
|
Other |
-0.2 |
- |
-0.5 |
-0.3 |
-0.1 |
|
Cash from Financing Activities |
-9.9 |
-15.4 |
-8.3 |
6.7 |
4.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
1.0 |
-1.4 |
-0.9 |
-0.9 |
0.5 |
|
Net Change in Cash |
-6.2 |
26.2 |
-1.5 |
25.4 |
4.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
86.9 |
56.6 |
55.8 |
54.5 |
52.6 |
|
Net Cash - Ending Balance |
80.7 |
82.8 |
54.3 |
79.9 |
57.2 |
|
Cash Interest Paid |
0.2 |
1.2 |
1.0 |
0.7 |
0.4 |
|
Cash Taxes Paid |
16.9 |
32.0 |
31.1 |
17.6 |
20.8 |
Geographic Segments
Financials in: As Reported (mil)
|
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Geographic Segments
Financials in: As Reported (mil)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.28 |
|
UK Pound |
1 |
Rs.80.08 |
|
Euro |
1 |
Rs.68.45 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.