MIRA INFORM REPORT
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Report Date : |
06.09.2011 |
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Tel. No.: |
81-3-5412-5033 |
IDENTIFICATION DETAILS
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Name : |
SUMIKIN BUSSAN CORPORATION |
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Registered Office : |
2-2-7, Nakanosima, Kita-ku, Osaka-shi, 530-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
12.04.1941 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
sale of steel, textiles, foodstuffs, iron and
steel products. |
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 : |
---- |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
Sumikin Bussan Corporation
2-2-7, Nakanosima
Kita-ku
Osaka-shi, 530-0005
Japan
Tel: 81-3-54125098
Fax: 81 3 5412-5101
synthesis
Employees: 4,835
Company Type: Public Parent
Corporate Family: 6
Companies
Traded: Osaka Stock Exchange: 9938
Incorporation Date:
12-Apr-1941
Auditor: Deloitte & Touche LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2011
Reporting Currency: Japanese
Yen
Annual Sales: 9,229.6 1
Net Income: 67.2
Total Assets: 4,082.9 2
Market Value: 363.9
(26-Aug-2011)
Business Description
Sumikin Bussan
Corporation is a company primarily engaged in the sale of steel, textiles,
foodstuffs, iron and steel products. The Company operates in five business
segments. The Steel segment provides steel tubes and pipes, hot-rolled and
cold-rolled laminate, shaped steel, stainless steel and other steel products,
as well as iron-making material and steel-making materials. The Industrial
Machinery and Infrastructure segment provides steel-making machinery,
processing machinery, general industrial equipment, electrical equipment, steel
castings, synthetic resins and other processed products. The Textile segment
supplies fibrous raw materials, original yarn, woven and knitted textiles, uniforms,
outerwear and innerwear, interior goods and others. The Food segment handles
beef, pork, chicken, mutton, shrimp, cuttlefish, crab, beans, vegetables,
fruits, alcoholic drinks, pasture grass and other foodstuffs. The Others
segment is involved in the purchase, sale and leasing of real estate. For the
three months ended 30 June 2011, Sumikin Bussan Corporation's revenues
decreased less than 1% to Y192.26B. The Company's net income decreased 22% to
Y1.59B. Revenues reflect lower sales due to unfavorable economic environment.
Net income also suffered from a higher percentage of SG&A expenses, the
presence of equity loss and loss on sale of fixed assets, and the absence of
reversal gain for doubtful accounts.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 3322 - Metal and
Mineral Wholesaling
NACE 2002: 5152 - Wholesale
of metals and ores
NAICS 2002: 42351 - Metal
Service Centers and Other Metal Merchant Wholesalers
UK SIC 2003: 5152 - Wholesale
of metals and ores
US SIC 1987: 5051 - Metals
Service Centers and Offices
Key Executives
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Name |
Title |
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Gashun Amaya |
President, Representative Director |
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Michihide Ito |
Executive Officer |
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Nobuyuki Arayashiki |
Co-Auditor |
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Takashi Eifuku |
Co-Managing Executive Officer |
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Tsuyoshi Watanabe |
Auditor |
Significant Developments
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Topic |
#* |
Most Recent
Headline |
Date |
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Strategic Combinations |
1 |
Aoyama Trading Co., Ltd. to Establish
Joint Venture with Sumikin Bussan Corporation to Start New Business |
21-Dec-2010 |
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Positive Earnings Pre-Announcement |
2 |
Sumikin Bussan Corporation Raises
Consolidated Mid-year Outlook for FY 2012 |
1-Aug-2011 |
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Dividends |
1 |
Sumikin Bussan Corporation to Issue
Dividend For FY 2011 |
2-May-2011 |
* number of significant developments within the last 12 months
news
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Title |
Date |
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Sumitomo
Metal Affiliate To Process Auto Steel In Tohoku |
25-Aug-2011 |
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Sumikin
Bussan Invests In Taiwan Restaurant Chain |
9-Aug-2011 |
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Sumikin
Bussan 1Q Grp Net Pft Y1.59B Vs Y2.04B Pft Yr Earlier |
1-Aug-2011 |
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Sumikin
Bussan Ups 1H Group Net Profit View To Y2.30B |
1-Aug-2011 |
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Sumikin
Bussan FY Grp Net Pft Y5.75B Vs Y4.59B Pft Yr Earlier |
1-May-2011 |
Financial Summary
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As of 30-Jun-2011 |
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Stock Snapshot
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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
2-2-7, Nakanosima
Kita-ku
Osaka-shi, 530-0005
Japan
Tel: 81-3-54125098
Fax: 81 3 5412-5101
Quote Symbol - Exchange
9938 - Osaka Stock
Exchange
Sales JPY(mil): 790,900.0
Assets JPY(mil): 338,392.0
Employees: 4,835
Fiscal Year End: 31-Mar-2011
Industry: Miscellaneous Capital Goods
Incorporation Date: 12-Apr-1941
Company Type: Public Parent
Quoted Status: Quoted
President,
Representative Director: Gashun
Amaya
Company Web Links
· Corporate History/Profile
· Executives
· Financial Information
· Home Page
· Investor Relations
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Financial Data
· Market Data
· Shareholders
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3711 - Textile Product Wholesaling
3322 - Metal and Mineral Wholesaling
6711 - Residential Property Operators
3609 - Other Grocery Wholesaling
3419 - Other Specialised Industrial Machinery and Equipment
Wholesaling
3712 - Clothing and Footwear Wholesaling
3323 - Industrial and Agricultural Chemical Product Wholesaling
3605 - Fruit and Vegetable Wholesaling
NACE 2002 Codes:
5187 - Wholesale of other machinery for use in industry, trade and
navigation
5142 - Wholesale of clothing and footwear
5138 - Wholesale of other food including fish, crustaceans and
molluscs
5152 - Wholesale of metals and ores
5131 - Wholesale of fruit and vegetables
7020 - Letting of own property
5141 - Wholesale of textiles
5155 - Wholesale of chemical products
NAICS 2002 Codes:
424320 - Men's and Boys' Clothing and Furnishings Merchant
Wholesalers
424490 - Other Grocery and Related Products Merchant Wholesalers
424310 - Piece Goods, Notions, and Other Dry Goods Merchant
Wholesalers
42351 - Metal Service Centers and Other Metal Merchant Wholesalers
531110 - Lessors of Residential Buildings and Dwellings
424330 - Women's, Children's, and Infants' Clothing and Accessories
Merchant Wholesalers
424690 - Other Chemical and Allied Products Merchant Wholesalers
423830 - Industrial Machinery and Equipment Merchant Wholesalers
424480 - Fresh Fruit and Vegetable Merchant Wholesalers
US SIC 1987:
5084 - Industrial Machinery and Equipment
5137 - Women's, Children's, and Infants' Clothing and Accessories
5051 - Metals Service Centers and Offices
6513 - Operators or Apartment Buildings
5149 - Groceries and Related Products, Not Elsewhere Classified
5131 - Piece Goods, Notions, and Other Dry Good
5148 - Fresh Fruits and Vegetables
5169 - Chemicals and Allied Products, Not Elsewhere Classified
5136 - Men's and Boy's Clothing and Furnishings
UK SIC 2003:
5141 - Wholesale of textiles
5152 - Wholesale of metals and ores
5138 - Wholesale of other food including fish, crustaceans and
molluscs
5187 - Wholesale of other machinery for use in industry, trade and
navigation
5142 - Wholesale of clothing and footwear
5155 - Wholesale of chemical products
5131 - Wholesale of fruit and vegetables
70209 - Other letting of own property
Business
Description
Sumikin Bussan
Corporation is a company primarily engaged in the sale of steel, textiles,
foodstuffs, iron and steel products. The Company operates in five business
segments. The Steel segment provides steel tubes and pipes, hot-rolled and
cold-rolled laminate, shaped steel, stainless steel and other steel products,
as well as iron-making material and steel-making materials. The Industrial
Machinery and Infrastructure segment provides steel-making machinery,
processing machinery, general industrial equipment, electrical equipment, steel
castings, synthetic resins and other processed products. The Textile segment
supplies fibrous raw materials, original yarn, woven and knitted textiles,
uniforms, outerwear and innerwear, interior goods and others. The Food segment
handles beef, pork, chicken, mutton, shrimp, cuttlefish, crab, beans,
vegetables, fruits, alcoholic drinks, pasture grass and other foodstuffs. The Others
segment is involved in the purchase, sale and leasing of real estate. For the
three months ended 30 June 2011, Sumikin Bussan Corporation's revenues
decreased less than 1% to Y192.26B. The Company's net income decreased 22% to
Y1.59B. Revenues reflect lower sales due to unfavorable economic environment.
Net income also suffered from a higher percentage of SG&A expenses, the
presence of equity loss and loss on sale of fixed assets, and the absence of
reversal gain for doubtful accounts.
More Business
Descriptions
· General trading in steel products, non-ferrous metals, machinery, construction, raw materials, textiles and foodstuffs
· Ferrous Metal Foundries
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Corporate
Family |
Corporate
Structure News: |
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Total Corporate Family Members: 6 |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Osaka-shi |
Japan |
Miscellaneous Capital Goods |
9,229.6 |
4,835 |
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Subsidiary |
Kuala Lumpur, Wilayah Persekutuan |
Malaysia |
Consumer Financial Services |
9.6 |
100 |
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Subsidiary |
Bangkok, Bangkok |
Thailand |
Consumer Financial Services |
1.0 |
100 |
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Subsidiary |
Tokyo |
Japan |
Food Processing |
1.0 |
44 |
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Subsidiary |
Taipei City, Taipei City |
Taiwan |
Personal and Household Products |
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30 |
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Subsidiary |
Jakarta, Jakarta |
Indonesia |
Auto and Truck Parts |
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Executives Report
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Significant Developments
Sumikin Bussan
Corporation Raises Consolidated Mid-year Outlook for FY 2012 Aug 01, 2011
Sumikin Bussan
Corporation announced that it has raised the consolidated mid-year outlook for
revenue from JPY 374,500 million to JPY 391,000 million, operating profit from
JPY 3,200 million to JPY 4,500 million, ordinary profit from JPY 3,300 million
to JPY 4,500 million, net profit from JPY 1,300 million to JPY 2,300 million
and earning per share from JPY 7.93 to JPY 14.13 for the fiscal year ending
March 31, 2012. The positive outlook is mainly due to the better-than-expected
sales.
Sumikin Bussan
Corporation to Issue Dividend For FY 2011 May 02, 2011
Sumikin Bussan Corporation
announced that it has decided to issue a year-end dividend of JPY 3.50 per
share (JPY 573 million in total), above the latest forecast of JPY 2.50 per
share announced on January 31, 2011, to all the shareholders of record as of
March 31, 2011. The dividend will be paid on June 27, 2011.
Aoyama Trading Co., Ltd. to Establish Joint Venture with Sumikin Bussan
Corporation to Start New Business Dec 21, 2010
Aoyama Trading
Co., Ltd. announced that it has decided to establish a joint venture with Sumikin
Bussan Corporation on December 21, 2010, to start the operation of American
Eagle Outfitters, which is a franchise chain store for the two brands, American
Eagle Outfitters and Aerie, of American Eagle Outfitters,Inc. in Japan. Aoyama
Trading and Sumikin Bussan Corporation will hold 90% and 10% stakes in the
joint venture respectively, and the joint venture will start operation in
Spring 2012.
Sumikin Bussan
Corporation Amends Consolidated Mid-year Outlook for FY Ending March 2011 Oct
28, 2010
Sumikin Bussan
Corporation announced that it has maintained the consolidated mid-year outlook
for revenue of JPY 390,000 million, but raised the outlook for operating profit
from JPY 3,700 million to JPY 3,900 million, ordinary profit from JPY 3,700
million to JPY 4,300 million, net profit from JPY 1,500 million to JPY 2,200
million and earning per share from JPY 9.15 to JPY 13.42 for the fiscal year
ending March 2011.The Company raised the outlook decreased marketing cost and
administrative cost, as well as the decreased tax cost, among others.
Sumitomo Metal Affiliate To Process Auto Steel In
Tohoku
Nikkei English News: 25 August 2011
[What follows is the full text of the news story.]
TOKYO
(Nikkei)--SSC Co., a steel processing firm partly owned by Sumitomo Metal
Industries Ltd. (5405) and Sumitomo Corp. (8053), said Thursday that it will
build a plant in Iwate Prefecture, in a region that has become a new hub for
the automotive industry.
The Tohoku region
has already seen production added by the Toyota Motor Corp. (7203) group. In
one move, Toyota subsidiary Central Motor Co. has started up a factory in
Miyagi Prefecture.
SSC is based in
Aichi Prefecture. Its new plant -- the company's third -- is scheduled to open
next June in the city of Oshu, in Iwate. It will be able to process 7,000 tons
a month of coil steel from Sumitomo Metal and other steelmakers.
SSC is 51% owned
by Kanpoh Steel Co. of Osaka. Sumitomo Metal holds a 19% stake, while trading
house Sumitomo and Sumikin Bussan Corp. (9938) each own 15%.
(The Nikkei Aug.
26 morning edition)
Sumikin Bussan Invests In Taiwan Restaurant Chain
Nikkei English News: 09 August 2011
[What follows is the full text of the news story.]
TOKYO
(Nikkei)--Sumikin Bussan Corp. (9938) has paid about 100 million yen to acquire
a 12% stake in Taiwanese restaurant operator Kanpai Corp. through a private
placement of new shares.
By working with
the trading house, the chain will open more than 30 new locations over the next
five years in Taiwan. Sumikin Bussan, which has sold Australian beef to Kanpai
since 2004, will increase its supply.
Kanpai was
established in 1999 and runs 14 restaurants, mainly in Taipei. It posted sales
of 1.1 billion yen for the year ended this past December.
Sumikin Bussan
will have representation on Kanpai's board. The trading house will start
selling meat and ingredients processed by Kanpai. The chain plans to enter
China and Southeast Asia by tapping Sumikin Bussan's overseas network.
(The Nikkei Aug.
10 morning edition)
Sumikin Bussan 1Q Grp Net Pft Y1.59B Vs Y2.04B Pft
Yr Earlier
Nikkei English News: 01 August 2011
[What follows is the full text of the news story.]
Sumikin Bussan
Corp. (9938.TO)
Japan
1st Quarter Ended
June 30
GROUP 2011 2010
Revenue Y192.26
blnY192.90 bln
Operating Profit
3.06 bln 2.71 bln
Pretax Profit 3.00
bln 3.21 bln
Net Profit 1.59
bln 2.04 bln
Per share
Earnings 9.71
12.43
Results are based
on Japanese accounting standards.
Sumikin Bussan Ups 1H Group Net Profit View To
Y2.30B
Nikkei English News: 01 August 2011
[What follows is the full text of the news story.]
Sumikin Bussan
Corp. (9938.TO)
GROUP New Forecast
Prior
For 1H To Sep 2011
Forecast
Revenue Y391.00
blnY374.50 bln
Operating Profit
4.50 bln 3.20 bln
Pretax Profit 4.50
bln 3.30 bln
Net Profit 2.30
bln 1.30 bln
Per share
Earnings 14.13
7.93
Results are based
on Japanese accounting standards.
Sumikin Bussan FY Grp Net Pft Y5.75B Vs Y4.59B Pft
Yr Earlier
Nikkei English News: 01 May 2011
[What follows is the full text of the news story.]
Sumikin Bussan
Corp. (9938.TO)
Japan
Year Ended March
31
Group 2011 2010
Revenue Y790.90
blnY757.19 bln
Operating Profit
10.26 bln 8.80 bln
Pretax Profit
11.74 bln 8.43 bln
Net Profit 5.75
bln 4.59 bln
Per share
Earnings 35.07
28.00
Results are based
on Japanese accounting standards.
Click here to go to Dow Jones NewsPlus, a web front page of today's most
important business and market news, analysis and commentary:
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use this link on the day this article is published and the following day.
Sumikin Bussan Expects This FY Group Net Profit
Y5.70B
Nikkei English News: 01 May 2011
[What follows is the full text of the news story.]
Sumikin Bussan
Corp. also released the following forecasts:
GROUP 1st Half To
Year Ending
Sep 2011Mar 2012
Revenue Y374.50
blnY810.00 bln
Operating Profit
3.20 bln 10.20 bln
Pretax Profit 3.30
bln 11.70 bln
Net Profit 1.30
bln 5.70 bln
Per share
Earnings 7.93
34.78
Results are based
on Japanese accounting standards.
Click here to go
to Dow Jones NewsPlus, a web front page of today's most important business and
market news, analysis and commentary:
http://www.djnewsplus.com/access/al?rnd=Zvaei3BUD%2FGBW2HY6AFTWQ%3D%3D.
You can use this link on the day this article is published and the following
day.
Stats: A Regional Look At The Forbes Global 2000
Forbes: 25 April 2011
[What follows is the full text of the news story.]
The Forbes Global
2000 are the biggest, most powerful listed companies in the world. These firms
have the top composite scores based on their rankings for sales, profits,
assets and market value. Our justification for using a composite ranking is
simple: One metric alone can give a false impression about corporate size. In
total, the Global 2000 companies now account for $32 trillion in revenues, $2.4
trillion in profits, $138 trillion in assets and $38 trillion in market value.
These firms also employ 80 million people worldwide.
We broke down our
list into four regions this year: Asia-Pacific, Europe, Middle East &
Africa-EMEA, the Americas and the U.S. Here are the grand totals for each
region along with a snapshot of the region's overall performance.
Conglomerates On
Fire
Japan and South
Korea show impressive gains in profits and assets.
The Asia-Pacific
region led The Global 2000 again this year with 701 companies, including the
most additions to the list of the four regions (11) and by far the biggest
increase in profits (they doubled). The biggest profit center was China, no
surprise, as 121 companies, including PetroChina, ICBC and Sinopec, returned an
aggregate profit of $168 billion. But Japan's and South Korea's
conglomerate-led rosters provided surprisingly impressive returns: Japan turned
from deficit to the region's second-most-profitable nation and added assets and
employees despite losing ten companies (Sumikin Bussan and Makita among them);
South Korea added ten companies, more than China, and saw profits surge 178%.
New additions: Samsung Life Insurance, Honam Petrochemical. --Gady Epstein
Troubled Region
European firms
imported their way out of the credit crisis.
There are 14 fewer
EMEA firms on The Global 2000 list this year, as the region struggled with weak
growth in sales (4%) and assets (a piddling 1%). Still, profits grew 54%, and
market values were on par with Asia and the U.S., suggesting that investors
still see value in the region. Firms pulled through the credit crisis by
fiercely protecting �profits and balance sheets, with Spain's BBVA and German
airline Lufthansa employing clever �cost-�cutting measures. The
sovereign-debt crisis has proved a red herring as bureaucrats found the
backstops needed for troubled nations like Greece, Ireland and Portugal. The
real headwinds are inflation and interest rates. Among Europe's promising names
are SKF and Atlas Copco, which are selling into the Chinese industrial
revolution. --Parmy Olson
Earning Away From
Home
U.S. firms had
their best year since 2007 by tapping foreign markets.
The U.S. economy
is back on its feet, growing at a steady 3% clip over the past 12 months.
American firms on The Global 2000 are growing far faster. Total sales were up
12% in 2010 over 2009, and profits continue to rise--up 69%, versus 56% for the
S&P 500. One reason: The U.S. companies on our list earn an average 26% of
revenue outside the country, and world GDP grew at a rate of 5% in 2010. Almost
one-quarter of the U.S. firms, names such as Aflac, Colgate-Palmolive and
Intel, generate a majority of their sales from overseas operations. Still, the
U.S. grip on The Global 2000 has been slipping since 2004, when the number of
U.S. constituents was 751. It's now 536. The U.S. still accounts for the most
firms among the top 100 with 28. --Scott DeCarlo
Laggard With
Bright Spots
Canada is humming.
So are the mines and banks in Brazil.
Despite bright
spots, like Petrobras' historic $70 billion IPO and a surging market for
Brazilian mineral wealth, the region continues to lag all others on The Global
2000, adding only 3 companies to the rankings this year and bringing its total
to 157, or only 7.8% of the list. Overall, sales by companies in the Americas,
the top-performing region, were up 16%, to $1.7 trillion--$10.2 trillion less
than EMEA. Canada, with 67 companies on the list, has the most in the Americas
again, but the 4 biggest individual firms are in Brazil: Petrobras, Banco
Bradesco, Banco do Brasil and Vale. Am�rica M�vil of Mexico, controlled by
the world's richest man, Carlos Slim, is ranked seventh in the region, with
sales up 63%. --Keren Blankfeld
BRIEF: American Eagle planning to open stores in
Japan
Pittsburgh Tribune-Review (PA): 21 December 2010
[What follows is the full text of the news story.]
Dec. 21--American
Eagle Outfitters Inc. said today it plans to open American Eagle and aerie
stores in Japan, with the first store opening in Tokyo's Harajuku shopping
district in the first half of 2012.
The South
Side-based retailer signed a franchise agreement with Sumikin Bussan Corp., a
fashion marketer, importer and exporter, to open and run the stores. AEO opened
its first stores outside North America this year, in Dubai and Kuwait, and has
been pursuing international opportunities.
There are
additional agreements for stores in China, Hong Kong and Israel.
Gashun Amaya,
president of Sumikin Bussan, said AEO clothing is "increasingly popular
among Japanese customers, who have experienced it in their travels to the U.S.
and Canada as well as online."
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services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
US American Eagle Outfitters To Open 1st Store In
Tokyo
Nikkei English News: 21 December 2010
[What follows is the full text of the news story.]
TOKYO (Dow
Jones)--U.S. casual-wear chain American Eagle Outfitters will open its doors in
Japan this spring via a franchise contract with the men's suit retailer Aoyama
Trading Co. (8219.TO), the local partner said Tuesday.
Aoyama said its
joint venture with the trading house Sumikin Bussan Corp. (9938.OK) has signed
a contract for franchise store chain in Japan for "American Eagle
Outfitters" and "Aerie" brands. It is scheduled to open a
flagship store in Tokyo's upscale Omotesando shopping district in the spring of
2011. Planning more stores mainly in the Tokyo metropolitan area, the chain
aims for annual sales of Y10 billion within five years.
The chain is the
latest foreign casual clothing retailer to gain access to Japanese market,
following the likes of Gap Inc. (GPS) of the U.S. and Hennes & Mauritz AB
of Sweden (HM-B.SK).
With Japan's
economy mired in prolonged uncertainty, consumption remains weak--particularly
for fashion and other nonessential items. But foreign casual clothing chains
tend to do well in Japan regardless of economic conditions, as they have a
powerful appeal for younger, fashion-conscious shoppers.
With annual sales
of $2.99 billion in the year ended January 2010, American Eagle Outfitters
operates nearly 1,100 stores in North America. But it has embarked on a major
offensive recently, including a store in Dubai and others planned for Hong
Kong, China and Israel.
Aoyama, the No. 1
discount chain specializing in men's suit in Japan in terms of revenue, was in
dire need of a partnership with casual retailer.
In particular,
concerns persist about the declining market given the falloff in demand from
white-collar workers as the postwar baby boomers retire.
Others players in
Japan's department sector have been facing tough times. Seven & i Holdings
Co. (3382.TO) will close its upscale Seibu branch in central Tokyo's Yurakucho
district Dec. 25. Despite the prime location, competition with H&M and
other nearby stores put the Seibu store under severe pressure.
-By Hiroyuki
Kachi, Dow Jones Newswires; 813-6269-2789; Hiroyuki.Kachi@dowjones.com
Click here to go
to Dow Jones NewsPlus, a web front page of today's most important business and
market news, analysis and commentary:
http://www.djnewsplus.com/access/al?rnd=mDBf7%2FdkQU0ZXx4wBlrDPA%3D%3D. You can
use this link on the day this article is published and the following day.
Sumikin Bussan Down On Grim Profit View For Steel
Ops
Nikkei English News: 28 February 2011
[What follows is the full text of the news story.]
TOKYO
(NQN)--Shares of Sumikin Bussan Corp. (9938) fell Monday after the firm's
leading shareholder, Sumitomo Metal Industries Ltd. (5405), started merger
talks with Nippon Steel Corp. (5401).
Investors are
generally positive about Sumikin Bussan, amid expectations that a merger could
expand the firm's customer base, but the particularly grim profit outlook for
its main steel operations is weighing on its stock, an official at Ace
Securities Co. said.
Its stock rose in
early February when the possibility of a merger between Sumitomo Metal
Industries and Nippon Steel was first revealed. But its shares later traded in
a narrow range due to concerns about the firm's future.
Sumikin Bussan
shares briefly slid 6 yen from Friday to 216 yen in the afternoon.
Global news
roundup
just-style.com
23 August 2011
By Petah Marian
[What follows is
the full text of the article.]
The following is a
round-up of apparel and footwear news from the world's local media. just-style
has not checked these stories so cannot guarantee their accuracy.
* Vietnamese
textile and garment firms should target African countries as part of efforts to
diversify their export markets, the country's Ministry of Industry and Trade
has said. According to the ministry, countries in the South African Customs
Union, which includes Botswana, Lesotho, Namibia, South Africa and Swaziland,
are considered as having the highest development potential in Africa. VIETNAM
NEWS BRIEF SERVICE.
* Sumikin Bussan
has entered an agreement with Vietnam's Phuoc Long Investment JSC to build a
garment contract costing VND23bn (US$1.1m) in Ho Chi Minh City. VIETNAM NEWS
BRIEF SERVICE.
* Leaders in the
Chinese port city of Dalian, Liaoning provence, have announced plans to shut a
chemical plant after thousands of protesters confronted riot police and
demanded its closure because of safety concerns. The plant makes paraxylene, an
ingredient used in the production of polyester. Paraxylene vapor can cause eye
and nose irritation and, in high concentrations, death. The announcement
followed a storm last week which raised concerns that chemicals might leak from
the factory as the factory is located close to a sea wall. THE NEW YORK TIMES.
* Indian woolen
apparel manufacturers are focusing on growing demand from affluent customers in
the domestic market for high-end products as uncertainty in the global market,
particularly in Europe and the US, continues to slow down exports. Lower demand
from the EU and US led to a 16.3% decline in exports in 2010/11, with ongoing
problems putting a shadow on export products for the current year as well. THE
ECONOMIC TIMES.
* Japanese apparel
and merchandise manufacturers are planning to curb production in China to cope
with rising labour costs there, opting for locations in Southeast Asia. Aoyama
trading plans to reduce its ratio of Chinese production from 75% to less than
50% in three years, while Ryohin Keikaku, which owns Muji, plans to reduce
Chinese production to less than 50% in three years from 60% at present. Fast
Retailing plans to increase production outside China for its g.u. apparel stores
to 50% from 20-30% at present. NIKKEI REPORT.
This article was
originally published on just-style.com on 23 August 2011. For authoritative and
timely style business information visit http://www.just-style.com.
AROQ Limited
Related Companies
· Ryohin Keikaku Co Ltd [profile]
· Sumikin Bussan Corp [profile]
Related Geographies
· Asia
· China
· Vietnam
Related Industries
· 2300 Apparel and other textile products
· Apparel/Accessories [profile]
· 18210 Manufacture of workwear
· 2240 Clothing Manufacturing
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
Revenue |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
Total Revenue |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
8,545.9 |
7,551.8 |
12,179.9 |
10,871.1 |
9,475.3 |
|
Cost of Revenue, Total |
8,545.9 |
7,551.8 |
12,179.9 |
10,871.1 |
9,475.3 |
|
Gross Profit |
683.7 |
595.2 |
669.6 |
633.3 |
594.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
296.6 |
262.1 |
272.1 |
239.4 |
242.0 |
|
Labor & Related Expense |
252.1 |
226.5 |
212.3 |
185.3 |
172.2 |
|
Total Selling/General/Administrative Expenses |
548.7 |
488.7 |
484.4 |
424.7 |
414.2 |
|
Depreciation |
11.6 |
10.0 |
8.9 |
7.7 |
8.2 |
|
Amortization of Acquisition Costs |
2.4 |
0.5 |
0.8 |
1.3 |
0.9 |
|
Depreciation/Amortization |
14.0 |
10.6 |
9.7 |
9.0 |
9.0 |
|
Impairment-Assets Held for Use |
6.4 |
4.6 |
2.2 |
0.5 |
1.1 |
|
Impairment-Assets Held for Sale |
16.9 |
3.9 |
32.1 |
2.1 |
0.4 |
|
Other Unusual Expense (Income) |
8.2 |
1.1 |
-1.3 |
-0.6 |
0.7 |
|
Unusual Expense (Income) |
31.5 |
9.6 |
33.1 |
2.0 |
2.2 |
|
Total Operating Expense |
9,140.1 |
8,060.7 |
12,707.1 |
11,306.7 |
9,900.7 |
|
|
|
|
|
|
|
|
Operating Income |
89.5 |
86.3 |
142.4 |
197.6 |
169.1 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-16.8 |
-18.0 |
-29.9 |
-35.5 |
-32.5 |
|
Interest Expense, Net Non-Operating |
-16.8 |
-18.0 |
-29.9 |
-35.5 |
-32.5 |
|
Interest Income -
Non-Operating |
2.6 |
2.6 |
5.7 |
5.8 |
5.4 |
|
Investment Income -
Non-Operating |
22.5 |
15.2 |
9.5 |
8.7 |
9.6 |
|
Interest/Investment Income - Non-Operating |
25.1 |
17.7 |
15.2 |
14.5 |
15.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
8.3 |
-0.2 |
-14.7 |
-21.0 |
-17.5 |
|
Gain (Loss) on Sale of Assets |
-0.1 |
0.9 |
-5.0 |
0.2 |
3.4 |
|
Other Non-Operating Income (Expense) |
8.3 |
2.2 |
-1.4 |
-4.6 |
-0.4 |
|
Other, Net |
8.3 |
2.2 |
-1.4 |
-4.6 |
-0.4 |
|
Income Before Tax |
106.1 |
89.1 |
121.3 |
172.2 |
154.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
38.5 |
41.4 |
58.2 |
74.0 |
72.6 |
|
Income After Tax |
67.6 |
47.7 |
63.2 |
98.3 |
82.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.4 |
1.7 |
-0.7 |
-2.6 |
-1.1 |
|
Net Income Before Extraord Items |
67.2 |
49.5 |
62.5 |
95.7 |
81.0 |
|
Net Income |
67.2 |
49.5 |
62.5 |
95.7 |
81.0 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Total Adjustments to Net Income |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Common Excl Extraord Items |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
163.9 |
164.0 |
164.0 |
164.0 |
147.7 |
|
Basic EPS Excl Extraord Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Basic/Primary EPS Incl Extraord Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
Diluted Weighted Average Shares |
163.9 |
164.0 |
164.0 |
164.0 |
147.7 |
|
Diluted EPS Excl Extraord Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Diluted EPS Incl Extraord Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Dividends per Share - Common Stock Primary Issue |
0.07 |
0.05 |
0.08 |
0.10 |
0.09 |
|
Gross Dividends - Common Stock |
11.5 |
8.8 |
13.0 |
15.8 |
13.4 |
|
Interest Expense, Supplemental |
16.8 |
18.0 |
29.9 |
35.5 |
32.5 |
|
Depreciation, Supplemental |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Total Special Items |
35.3 |
9.3 |
38.8 |
3.1 |
-0.3 |
|
Normalized Income Before Tax |
141.3 |
98.4 |
160.2 |
175.4 |
154.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
11.5 |
4.1 |
18.2 |
0.8 |
-0.6 |
|
Inc Tax Ex Impact of Sp Items |
50.0 |
45.5 |
76.4 |
74.8 |
72.1 |
|
Normalized Income After Tax |
91.4 |
53.0 |
83.8 |
100.6 |
82.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
90.9 |
54.6 |
83.0 |
98.0 |
81.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.55 |
0.33 |
0.51 |
0.60 |
0.55 |
|
Diluted Normalized EPS |
0.55 |
0.33 |
0.51 |
0.60 |
0.55 |
|
Amort of Acquisition Costs, Supplemental |
3.6 |
0.5 |
0.8 |
1.3 |
0.9 |
|
Rental Expenses |
51.1 |
47.0 |
45.0 |
38.1 |
37.5 |
|
Research & Development Exp, Supplemental |
- |
0.1 |
0.0 |
0.0 |
0.0 |
|
Reported Operating Profit |
119.7 |
94.6 |
174.2 |
198.8 |
170.9 |
|
Reported Ordinary Profit |
137.0 |
90.6 |
151.1 |
176.1 |
153.7 |
|
Normalized EBIT |
121.0 |
95.9 |
175.5 |
199.7 |
171.3 |
|
Normalized EBITDA |
150.6 |
116.8 |
193.9 |
216.5 |
187.2 |
|
Interest Cost - Domestic |
1.9 |
1.8 |
1.7 |
1.5 |
1.5 |
|
Service Cost - Domestic |
4.5 |
3.9 |
4.1 |
3.4 |
3.5 |
|
Prior Service Cost - Domestic |
-0.5 |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Expected Return on Assets - Domestic |
-1.3 |
-1.0 |
-1.3 |
-1.3 |
-1.2 |
|
Actuarial Gains and Losses - Domestic |
4.3 |
5.2 |
2.1 |
0.8 |
0.8 |
|
Domestic Pension Plan Expense |
9.0 |
9.4 |
6.2 |
4.2 |
4.4 |
|
Defined Contribution Expense - Domestic |
5.3 |
3.1 |
2.7 |
3.1 |
2.5 |
|
Total Pension Expense |
14.2 |
12.5 |
8.9 |
7.3 |
6.8 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Total Plan Interest Cost |
1.9 |
1.8 |
1.7 |
1.5 |
1.5 |
|
Total Plan Service Cost |
4.5 |
3.9 |
4.1 |
3.4 |
3.5 |
|
Total Plan Expected Return |
-1.3 |
-1.0 |
-1.3 |
-1.3 |
-1.2 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
117.6 |
120.1 |
111.2 |
86.1 |
104.6 |
|
Short Term Investments |
- |
- |
0.0 |
0.2 |
0.0 |
|
Cash and Short Term Investments |
117.6 |
120.1 |
111.2 |
86.2 |
104.6 |
|
Accounts Receivable -
Trade, Gross |
2,511.1 |
2,209.1 |
2,216.2 |
2,603.4 |
2,271.0 |
|
Provision for Doubtful
Accounts |
-26.1 |
-27.5 |
-26.1 |
-31.1 |
-33.8 |
|
Trade Accounts Receivable - Net |
2,485.0 |
2,181.5 |
2,190.0 |
2,572.3 |
2,237.2 |
|
Total Receivables, Net |
2,485.0 |
2,181.5 |
2,190.0 |
2,572.3 |
2,237.2 |
|
Inventories - Finished Goods |
517.8 |
380.7 |
499.0 |
- |
- |
|
Inventories - Work In Progress |
11.0 |
8.4 |
9.2 |
- |
- |
|
Inventories - Raw Materials |
88.3 |
51.6 |
104.8 |
- |
- |
|
Inventories - Other |
- |
- |
- |
0.0 |
236.7 |
|
Total Inventory |
617.1 |
440.7 |
613.0 |
548.7 |
664.1 |
|
Deferred Income Tax - Current Asset |
24.1 |
21.6 |
24.7 |
21.5 |
12.5 |
|
Other Current Assets |
101.4 |
100.2 |
206.1 |
189.0 |
89.7 |
|
Other Current Assets, Total |
125.5 |
121.8 |
230.7 |
210.5 |
102.2 |
|
Total Current Assets |
3,345.2 |
2,864.2 |
3,145.0 |
3,417.8 |
3,108.0 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
383.3 |
291.6 |
277.6 |
271.1 |
220.1 |
|
Goodwill, Net |
7.6 |
9.0 |
3.6 |
4.5 |
5.1 |
|
Intangibles, Net |
6.9 |
5.9 |
6.4 |
8.9 |
7.2 |
|
LT Investments - Other |
222.9 |
190.0 |
166.9 |
228.0 |
191.9 |
|
Long Term Investments |
222.9 |
190.0 |
166.9 |
228.0 |
191.9 |
|
Note Receivable - Long Term |
14.6 |
9.2 |
5.6 |
32.2 |
29.5 |
|
Deferred Income Tax - Long Term Asset |
17.7 |
16.5 |
12.8 |
5.8 |
5.2 |
|
Other Long Term Assets |
84.7 |
81.7 |
84.4 |
70.9 |
57.5 |
|
Other Long Term Assets, Total |
102.4 |
98.1 |
97.3 |
76.7 |
62.7 |
|
Total Assets |
4,082.9 |
3,468.0 |
3,702.2 |
4,039.2 |
3,624.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
2,060.5 |
1,813.1 |
2,044.4 |
2,428.6 |
2,128.4 |
|
Accrued Expenses |
14.7 |
13.5 |
15.0 |
15.7 |
10.8 |
|
Notes Payable/Short Term Debt |
848.1 |
709.7 |
702.9 |
702.2 |
583.5 |
|
Current Portion - Long Term Debt/Capital Leases |
51.9 |
47.0 |
41.7 |
0.0 |
- |
|
Customer Advances |
- |
- |
- |
- |
236.2 |
|
Income Taxes Payable |
15.7 |
14.9 |
27.6 |
55.4 |
42.5 |
|
Deferred Income Tax - Current Liability |
0.1 |
0.0 |
0.2 |
0.0 |
0.1 |
|
Other Current Liabilities |
128.9 |
76.9 |
155.1 |
138.4 |
47.7 |
|
Other Current liabilities, Total |
144.7 |
91.8 |
182.9 |
193.8 |
326.4 |
|
Total Current Liabilities |
3,119.9 |
2,675.1 |
2,987.0 |
3,340.4 |
3,049.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
179.9 |
155.0 |
153.3 |
140.2 |
130.4 |
|
Capital Lease Obligations |
1.1 |
0.4 |
0.1 |
0.0 |
- |
|
Total Long Term Debt |
180.9 |
155.4 |
153.3 |
140.2 |
130.4 |
|
Total Debt |
1,081.0 |
912.1 |
898.0 |
842.5 |
713.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
12.5 |
6.6 |
6.5 |
10.3 |
24.4 |
|
Deferred Income Tax |
12.5 |
6.6 |
6.5 |
10.3 |
24.4 |
|
Minority Interest |
31.9 |
19.0 |
19.9 |
20.5 |
13.5 |
|
Reserves |
0.5 |
0.0 |
- |
0.0 |
1.3 |
|
Pension Benefits - Underfunded |
35.5 |
29.4 |
27.8 |
30.5 |
22.9 |
|
Other Long Term Liabilities |
17.0 |
16.4 |
17.1 |
17.1 |
17.3 |
|
Other Liabilities, Total |
53.0 |
45.8 |
44.8 |
47.7 |
41.5 |
|
Total Liabilities |
3,398.2 |
2,901.9 |
3,211.5 |
3,559.1 |
3,259.0 |
|
|
|
|
|
|
|
|
Common Stock |
148.8 |
132.0 |
124.9 |
123.9 |
104.5 |
|
Common Stock |
148.8 |
132.0 |
124.9 |
123.9 |
104.5 |
|
Additional Paid-In Capital |
85.5 |
75.8 |
71.7 |
71.2 |
60.0 |
|
Retained Earnings (Accumulated Deficit) |
477.0 |
368.6 |
309.9 |
267.3 |
148.2 |
|
Treasury Stock - Common |
-2.5 |
-2.0 |
-1.9 |
-1.8 |
-1.2 |
|
Unrealized Gain (Loss) |
8.8 |
9.0 |
6.2 |
13.8 |
49.3 |
|
Translation Adjustment |
-33.0 |
-17.4 |
-20.1 |
5.5 |
4.6 |
|
Other Equity |
- |
- |
- |
0.0 |
- |
|
Other Equity, Total |
-33.0 |
-17.4 |
-20.1 |
5.6 |
4.6 |
|
Total Equity |
684.7 |
566.0 |
490.7 |
480.1 |
365.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,082.9 |
3,468.0 |
3,702.2 |
4,039.1 |
3,624.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
163.9 |
164.0 |
164.0 |
164.0 |
164.1 |
|
Total Common Shares Outstanding |
163.9 |
164.0 |
164.0 |
164.0 |
164.1 |
|
Treasury Shares - Common Stock Primary Issue |
0.7 |
0.6 |
0.5 |
0.5 |
0.4 |
|
Employees |
4,835 |
4,694 |
4,618 |
4,473 |
4,272 |
|
Number of Common Shareholders |
8,721 |
9,025 |
9,286 |
9,367 |
10,391 |
|
Deferred Revenue - Current |
- |
- |
- |
0.0 |
236.2 |
|
Total Long Term Debt, Supplemental |
232.7 |
201.8 |
194.9 |
197.3 |
187.7 |
|
Long Term Debt Maturing within 1 Year |
52.8 |
46.9 |
41.7 |
57.0 |
57.3 |
|
Long Term Debt Maturing in Year 2 |
70.6 |
39.5 |
40.5 |
35.8 |
46.5 |
|
Long Term Debt Maturing in Year 3 |
41.1 |
55.9 |
33.1 |
34.0 |
28.7 |
|
Long Term Debt Maturing in Year 4 |
44.0 |
39.4 |
46.8 |
27.0 |
25.6 |
|
Long Term Debt Maturing in Year 5 |
24.1 |
19.7 |
32.4 |
41.4 |
17.7 |
|
Long Term Debt Maturing in 2-3 Years |
111.8 |
95.4 |
73.5 |
69.9 |
75.2 |
|
Long Term Debt Maturing in 4-5 Years |
68.1 |
59.1 |
79.2 |
68.4 |
43.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.4 |
0.6 |
2.0 |
12.0 |
|
Total Capital Leases, Supplemental |
1.5 |
0.5 |
0.1 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
0.2 |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.8 |
0.3 |
0.0 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.2 |
0.1 |
0.0 |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
120.7 |
102.6 |
98.2 |
100.3 |
84.9 |
|
Plan Assets - Domestic |
75.7 |
64.5 |
54.1 |
69.4 |
66.1 |
|
Funded Status - Domestic |
-45.0 |
-38.1 |
-44.2 |
-31.0 |
-18.8 |
|
Total Funded Status |
-45.0 |
-38.1 |
-44.2 |
-31.0 |
-18.8 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Prepaid Benefits - Domestic |
0.2 |
0.2 |
0.0 |
- |
- |
|
Accrued Liabilities - Domestic |
-31.5 |
-26.1 |
-24.1 |
-25.3 |
-22.9 |
|
Other Assets, Net - Domestic |
13.7 |
12.1 |
20.1 |
5.6 |
-4.1 |
|
Net Assets Recognized on Balance Sheet |
-17.5 |
-13.8 |
-3.9 |
-19.7 |
-26.9 |
|
Total Plan Obligations |
120.7 |
102.6 |
98.2 |
100.3 |
84.9 |
|
Total Plan Assets |
75.7 |
64.5 |
54.1 |
69.4 |
66.1 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
105.9 |
89.0 |
121.2 |
172.2 |
154.6 |
|
Depreciation |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Depreciation/Depletion |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Amortization of Acquisition Costs |
3.6 |
0.5 |
0.8 |
1.3 |
0.9 |
|
Amortization |
3.6 |
0.5 |
0.8 |
1.3 |
0.9 |
|
Unusual Items |
29.9 |
0.5 |
31.1 |
4.5 |
-1.5 |
|
Equity in Net Earnings (Loss) |
-17.4 |
-4.0 |
-1.3 |
-3.6 |
-2.4 |
|
Other Non-Cash Items |
-2.5 |
7.6 |
-6.8 |
3.4 |
7.8 |
|
Non-Cash Items |
10.0 |
4.2 |
23.1 |
4.3 |
3.8 |
|
Accounts Receivable |
-9.1 |
141.4 |
387.2 |
93.9 |
-207.7 |
|
Inventories |
-87.7 |
215.7 |
-70.2 |
-33.7 |
13.5 |
|
Accounts Payable |
-12.4 |
-360.5 |
-385.4 |
-90.6 |
110.9 |
|
Accrued Expenses |
-0.4 |
-2.5 |
-0.2 |
1.9 |
-0.3 |
|
Other Operating Cash Flow |
-42.7 |
16.6 |
-73.4 |
-97.3 |
-29.3 |
|
Changes in Working Capital |
-152.2 |
10.7 |
-142.0 |
-125.8 |
-112.9 |
|
Cash from Operating Activities |
-6.7 |
124.8 |
20.7 |
67.5 |
61.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-43.5 |
-17.7 |
-29.1 |
-25.9 |
-30.0 |
|
Purchase/Acquisition of Intangibles |
-2.9 |
-0.2 |
-0.3 |
-1.6 |
-3.4 |
|
Capital Expenditures |
-46.4 |
-17.8 |
-29.4 |
-27.5 |
-33.4 |
|
Sale of Fixed Assets |
4.3 |
3.2 |
2.0 |
2.4 |
6.8 |
|
Sale/Maturity of Investment |
3.0 |
18.5 |
6.5 |
23.1 |
71.0 |
|
Investment, Net |
7.2 |
0.2 |
2.3 |
0.1 |
-0.1 |
|
Purchase of Investments |
-39.5 |
-24.5 |
-11.4 |
-75.1 |
-14.8 |
|
Sale of Intangible Assets |
0.0 |
0.0 |
0.2 |
0.0 |
0.0 |
|
Other Investing Cash Flow |
-6.0 |
0.0 |
2.7 |
-8.5 |
4.4 |
|
Other Investing Cash Flow Items, Total |
-31.0 |
-2.6 |
2.3 |
-58.0 |
67.4 |
|
Cash from Investing Activities |
-77.4 |
-20.4 |
-27.1 |
-85.5 |
34.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-1.8 |
-1.1 |
-0.8 |
0.1 |
-0.5 |
|
Financing Cash Flow Items |
-1.8 |
-1.1 |
-0.8 |
0.1 |
-0.5 |
|
Cash Dividends Paid - Common |
-9.6 |
-8.8 |
-18.8 |
-15.7 |
-10.0 |
|
Total Cash Dividends Paid |
-9.6 |
-8.8 |
-18.8 |
-15.7 |
-10.0 |
|
Sale/Issuance of Common |
- |
- |
- |
0.0 |
72.4 |
|
Common Stock, Net |
- |
- |
- |
0.0 |
72.4 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
- |
0.0 |
72.4 |
|
Short Term Debt, Net |
97.9 |
-84.1 |
56.7 |
21.0 |
-114.4 |
|
Long Term Debt Issued |
48.4 |
38.3 |
55.3 |
39.0 |
31.7 |
|
Long Term Debt
Reduction |
-66.5 |
-47.6 |
-56.6 |
-59.1 |
-77.6 |
|
Long Term Debt, Net |
-18.1 |
-9.3 |
-1.3 |
-20.1 |
-45.9 |
|
Issuance (Retirement) of Debt, Net |
79.8 |
-93.3 |
55.4 |
0.9 |
-160.3 |
|
Cash from Financing Activities |
68.3 |
-103.3 |
35.8 |
-14.7 |
-98.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.5 |
0.5 |
-4.7 |
0.2 |
0.7 |
|
Net Change in Cash |
-19.4 |
1.5 |
24.7 |
-32.5 |
-2.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
132.7 |
119.1 |
83.9 |
106.2 |
106.2 |
|
Net Cash - Ending Balance |
113.3 |
120.7 |
108.6 |
73.7 |
103.8 |
|
Cash Interest Paid |
16.4 |
18.2 |
28.9 |
35.2 |
32.5 |
|
Cash Taxes Paid |
35.7 |
52.8 |
96.0 |
66.2 |
18.4 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
Total Revenue |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
|
|
|
|
|
|
|
Cost of sales |
8,545.9 |
7,551.8 |
12,179.9 |
10,871.1 |
9,475.3 |
|
Shipping,Storage |
72.6 |
66.6 |
74.8 |
70.6 |
72.5 |
|
Sales Expense |
31.4 |
30.4 |
27.4 |
24.8 |
26.8 |
|
Allow.Doubt.Act. |
0.0 |
0.3 |
0.0 |
0.3 |
0.7 |
|
Salaries |
189.1 |
171.8 |
162.0 |
140.2 |
133.9 |
|
Res-Bonuses |
13.5 |
12.4 |
12.5 |
11.1 |
9.6 |
|
Res-Acd.Retirement |
- |
- |
0.0 |
0.6 |
0.6 |
|
Periodic retirement benefit costs |
13.4 |
11.2 |
7.8 |
6.4 |
5.9 |
|
Director'sPeriodic retire. benefit costs |
0.9 |
0.9 |
1.1 |
2.3 |
0.0 |
|
Welfare |
35.2 |
30.1 |
28.9 |
24.6 |
22.3 |
|
Transportation |
23.1 |
20.4 |
22.1 |
18.8 |
17.8 |
|
Rent |
51.1 |
47.0 |
45.0 |
38.1 |
37.5 |
|
Consignment |
40.2 |
32.9 |
31.9 |
26.1 |
25.8 |
|
Taxes & Charges |
4.9 |
3.9 |
4.1 |
4.0 |
4.0 |
|
Depreciation |
11.6 |
10.0 |
8.9 |
7.7 |
8.2 |
|
Amort.Consoid.Adj. |
3.6 |
1.7 |
2.0 |
2.1 |
1.2 |
|
Other SG&A |
73.2 |
60.7 |
66.9 |
56.8 |
57.0 |
|
SP Reversal of Allow.Doubt.Acct. |
- |
0.0 |
-0.5 |
0.0 |
- |
|
SP Rev of Allow.Doubt.Acct.-affiliates |
- |
0.0 |
-0.8 |
0.0 |
- |
|
SP Rev. reserve for debts guarantees |
- |
- |
0.0 |
-0.6 |
0.0 |
|
SP Gain on step acquisitions |
-1.2 |
0.0 |
- |
- |
- |
|
SP Loss on disaster |
6.8 |
0.0 |
- |
- |
- |
|
SP Assets impairment losses |
3.2 |
4.6 |
2.2 |
0.5 |
1.1 |
|
SP L on retire. of fixed assets |
3.1 |
0.0 |
- |
- |
- |
|
SP L on val. of LT inv't. secs. |
12.7 |
1.5 |
26.5 |
1.4 |
0.4 |
|
SP Loss-closely-held co. invest. valu. |
4.2 |
2.5 |
5.6 |
0.7 |
- |
|
SP Provision investment loss |
- |
0.0 |
0.0 |
0.0 |
- |
|
SP Prov. affililiated doubtful accounts |
0.2 |
1.1 |
0.0 |
- |
0.0 |
|
SP Reserve for affiliated liq. loss |
0.5 |
0.0 |
- |
0.0 |
0.7 |
|
SP Accrued retirement benef. change exp |
- |
- |
- |
- |
0.0 |
|
SP L-adjust. for change of acct. assets |
1.9 |
0.0 |
- |
- |
- |
|
SP Guarantee Loss Reserves |
- |
- |
- |
- |
0.0 |
|
NOP Amort. negative goodwill |
-1.2 |
-1.1 |
-1.2 |
-0.8 |
-0.3 |
|
Total Operating Expense |
9,140.1 |
8,060.7 |
12,707.1 |
11,306.7 |
9,900.7 |
|
|
|
|
|
|
|
|
SP G on sale of fixed assets |
0.0 |
1.1 |
0.0 |
0.2 |
4.2 |
|
SP G on sale of LT inv't. secs. |
1.5 |
7.7 |
3.5 |
1.6 |
0.8 |
|
SP G on equity changes |
0.0 |
0.1 |
0.0 |
0.4 |
0.0 |
|
SP G-sale of closely-held investment |
0.0 |
0.1 |
0.4 |
0.0 |
- |
|
SP L on equity changes |
-0.4 |
0.0 |
0.0 |
-0.4 |
0.0 |
|
SP L on sale of fixed assets |
-0.1 |
0.0 |
-0.5 |
0.0 |
-0.8 |
|
SP L on sale of inv't in closely-held |
-0.1 |
0.0 |
- |
- |
- |
|
SP L on sale of LT inv't. secs. |
-0.4 |
-0.9 |
-0.3 |
-3.7 |
-1.1 |
|
NOP Interest Income |
2.6 |
2.6 |
5.7 |
5.8 |
5.4 |
|
NOP Dividend Income |
4.4 |
4.2 |
4.5 |
7.2 |
7.5 |
|
NOP Equity earnings |
17.4 |
4.0 |
1.3 |
3.6 |
2.4 |
|
NOP Other non-operating income |
12.2 |
9.4 |
9.1 |
9.0 |
10.6 |
|
NOP Interest Expense |
-16.8 |
-18.0 |
-29.9 |
-35.5 |
-32.5 |
|
NOP Loss-accounts receivable transfer |
- |
-0.2 |
-4.5 |
- |
- |
|
NOP Other non-operating expenses |
-3.9 |
-7.2 |
-10.4 |
-13.6 |
-11.0 |
|
Net Income Before Taxes |
106.1 |
89.1 |
121.3 |
172.2 |
154.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
38.5 |
41.4 |
58.2 |
74.0 |
72.6 |
|
Net Income After Taxes |
67.6 |
47.7 |
63.2 |
98.3 |
82.0 |
|
|
|
|
|
|
|
|
Miniority Interests |
-0.4 |
1.7 |
-0.7 |
-2.6 |
-1.1 |
|
Net Income Before Extra. Items |
67.2 |
49.5 |
62.5 |
95.7 |
81.0 |
|
Net Income |
67.2 |
49.5 |
62.5 |
95.7 |
81.0 |
|
|
|
|
|
|
|
|
Earning Adjustment |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Com Excl ExtraOrd |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
163.9 |
164.0 |
164.0 |
164.0 |
147.7 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Basic EPS Including ExtraOrdinary Item |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
Diluted Weighted Average Shares |
163.9 |
164.0 |
164.0 |
164.0 |
147.7 |
|
Diluted EPS Excluding ExtraOrd Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Diluted EPS Including ExtraOrd Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
DPS-Common Stock |
0.07 |
0.05 |
0.08 |
0.10 |
0.09 |
|
Gross Dividends - Common Stock |
11.5 |
8.8 |
13.0 |
15.8 |
13.4 |
|
Normalized Income Before Taxes |
141.3 |
98.4 |
160.2 |
175.4 |
154.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
50.0 |
45.5 |
76.4 |
74.8 |
72.1 |
|
Normalized Income After Taxes |
91.4 |
53.0 |
83.8 |
100.6 |
82.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
90.9 |
54.6 |
83.0 |
98.0 |
81.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.55 |
0.33 |
0.51 |
0.60 |
0.55 |
|
Diluted Normalized EPS |
0.55 |
0.33 |
0.51 |
0.60 |
0.55 |
|
Depreciation |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Amort of goodwill |
3.6 |
1.7 |
2.0 |
2.1 |
1.2 |
|
Amort of negative goodwill |
0.0 |
-1.1 |
-1.2 |
-0.8 |
-0.3 |
|
Interest Expense |
16.8 |
18.0 |
29.9 |
35.5 |
32.5 |
|
Rental Expense |
51.1 |
47.0 |
45.0 |
38.1 |
37.5 |
|
Research & Development Expenses |
- |
0.1 |
0.0 |
0.0 |
0.0 |
|
Reported Operating Profit |
119.7 |
94.6 |
174.2 |
198.8 |
170.9 |
|
Reported Ordinary Profit |
137.0 |
90.6 |
151.1 |
176.1 |
153.7 |
|
Service Cost |
4.5 |
3.9 |
4.1 |
3.4 |
3.5 |
|
Interest Cost |
1.9 |
1.8 |
1.7 |
1.5 |
1.5 |
|
Expected Return on Plan Assets |
-1.3 |
-1.0 |
-1.3 |
-1.3 |
-1.2 |
|
Prior Service Cost |
-0.5 |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Actuarial Gains and Losses |
4.3 |
5.2 |
2.1 |
0.8 |
0.8 |
|
Domestic Pension Plan Expense |
9.0 |
9.4 |
6.2 |
4.2 |
4.4 |
|
Defined Contribution Expense |
5.3 |
3.1 |
2.7 |
3.1 |
2.5 |
|
Total Pension Expense |
14.2 |
12.5 |
8.9 |
7.3 |
6.8 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & deposits |
117.6 |
120.1 |
111.2 |
86.1 |
104.6 |
|
Accounts & notes receivable, gross |
2,511.1 |
2,209.1 |
2,216.2 |
2,603.4 |
2,271.0 |
|
Marketable securities |
- |
- |
0.0 |
0.2 |
0.0 |
|
Inventories |
- |
- |
- |
548.7 |
427.4 |
|
Inventories - merchandise&finished goods |
517.8 |
380.7 |
499.0 |
- |
- |
|
Inventories - raw materials&supplies |
88.3 |
51.6 |
104.8 |
- |
- |
|
Inventories - work-in-process |
11.0 |
8.4 |
9.2 |
- |
- |
|
Advance payments |
- |
- |
- |
0.0 |
236.7 |
|
Deferred income taxes (current) |
24.1 |
21.6 |
24.7 |
21.5 |
12.5 |
|
Current assets other |
101.4 |
100.2 |
206.1 |
189.0 |
89.7 |
|
Allow.doubt.accounts (current) |
-26.1 |
-27.5 |
-26.1 |
-31.1 |
-33.8 |
|
Total Current Assets |
3,345.2 |
2,864.2 |
3,145.0 |
3,417.8 |
3,108.0 |
|
|
|
|
|
|
|
|
Buildings & structures, net |
108.7 |
79.0 |
76.1 |
75.8 |
62.1 |
|
Machineries, equipment, &vehicles, net |
50.4 |
46.2 |
42.2 |
38.1 |
31.1 |
|
Furniture, & fixtures, net |
13.7 |
11.0 |
11.3 |
9.3 |
8.0 |
|
Land |
207.6 |
152.5 |
146.4 |
142.2 |
117.6 |
|
Lease assets, net |
0.8 |
0.5 |
0.1 |
0.0 |
- |
|
Construction-in-progress |
2.0 |
2.4 |
1.5 |
5.7 |
1.2 |
|
Goodwill |
7.6 |
9.0 |
3.6 |
4.5 |
5.1 |
|
Other intangible assets |
6.9 |
5.9 |
6.4 |
8.9 |
7.2 |
|
Long-term investment in securities |
222.9 |
190.0 |
166.9 |
228.0 |
191.9 |
|
LT Loan |
14.6 |
9.2 |
5.6 |
32.2 |
29.5 |
|
Deferred inc. taxes (non-current) |
17.7 |
16.5 |
12.8 |
5.8 |
5.2 |
|
Other assets |
124.3 |
117.3 |
121.2 |
128.0 |
112.1 |
|
Allow.doubt.accounts (non-current) |
-39.6 |
-35.6 |
-36.8 |
-57.0 |
-54.7 |
|
Res.Inv.Loss |
- |
0.0 |
0.0 |
0.0 |
- |
|
Total Assets |
4,082.9 |
3,468.0 |
3,702.2 |
4,039.2 |
3,624.5 |
|
|
|
|
|
|
|
|
Trade accounts & notes payable |
2,060.5 |
1,813.1 |
2,044.4 |
2,428.6 |
2,128.4 |
|
Short-term borrowings |
848.1 |
709.7 |
702.9 |
702.2 |
583.5 |
|
Long-term borrowings, current |
51.5 |
46.9 |
41.7 |
- |
- |
|
Lease Liabilities |
0.4 |
0.1 |
0.0 |
0.0 |
- |
|
Income taxes payable |
15.7 |
14.9 |
27.6 |
55.4 |
42.5 |
|
Deferred tax liabilities (current) |
0.1 |
0.0 |
0.2 |
0.0 |
0.1 |
|
Advance received |
- |
- |
- |
- |
236.2 |
|
Reserve for bonuses |
14.7 |
13.5 |
15.0 |
14.9 |
10.2 |
|
Provision for loss on disaster |
4.9 |
0.0 |
- |
- |
- |
|
Asset retirement obligations |
0.4 |
0.0 |
- |
- |
- |
|
Reserve for directors' bonuses |
- |
- |
0.0 |
0.7 |
0.6 |
|
Reserve for related business loss |
- |
- |
- |
0.0 |
0.7 |
|
Other current liabilities |
123.6 |
76.9 |
155.1 |
138.4 |
47.0 |
|
Total Current Liabilities |
3,119.9 |
2,675.1 |
2,987.0 |
3,340.4 |
3,049.1 |
|
|
|
|
|
|
|
|
Long-term borrowings |
179.9 |
155.0 |
153.3 |
140.2 |
130.4 |
|
LT Lease Liabilities |
1.1 |
0.4 |
0.1 |
0.0 |
- |
|
Total Long Term Debt |
180.9 |
155.4 |
153.3 |
140.2 |
130.4 |
|
|
|
|
|
|
|
|
Deferred tax liabilities (non-current) |
12.5 |
6.6 |
6.5 |
10.3 |
24.4 |
|
Reserve for directors'retirement benefit |
4.0 |
3.2 |
3.7 |
5.2 |
0.0 |
|
Provision for loss on liquidation of sub |
0.5 |
0.0 |
- |
- |
- |
|
Asset retirement obligations |
1.3 |
0.0 |
- |
- |
- |
|
Reserve for accrued retirement benefit |
31.5 |
26.1 |
24.1 |
25.3 |
22.9 |
|
Guarantee Deposit Loss Reserves |
- |
- |
- |
0.0 |
1.3 |
|
Negative Godwill |
1.3 |
2.3 |
3.2 |
4.4 |
2.0 |
|
Other LT liabilities |
14.4 |
14.1 |
13.9 |
12.8 |
15.3 |
|
Minority interests |
31.9 |
19.0 |
19.9 |
20.5 |
13.5 |
|
Total Liabilities |
3,398.2 |
2,901.9 |
3,211.5 |
3,559.1 |
3,259.0 |
|
|
|
|
|
|
|
|
Common Stock |
148.8 |
132.0 |
124.9 |
123.9 |
104.5 |
|
Paid-in Capital |
85.5 |
75.8 |
71.7 |
71.2 |
60.0 |
|
Retained surplus |
477.0 |
368.6 |
309.9 |
267.3 |
148.2 |
|
Treasury Stock |
-2.5 |
-2.0 |
-1.9 |
-1.8 |
-1.2 |
|
Reserve by val. of investment sec. |
10.6 |
9.5 |
6.0 |
21.3 |
47.8 |
|
Deferred hedge gain/loss |
-1.7 |
-1.3 |
-0.5 |
-8.3 |
0.9 |
|
Reserve by valuation of land |
0.0 |
0.8 |
0.8 |
0.8 |
0.6 |
|
Cumulative translation adjustments |
-33.0 |
-17.4 |
-20.1 |
5.5 |
4.6 |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Total Equity |
684.7 |
566.0 |
490.7 |
480.1 |
365.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
4,082.9 |
3,468.0 |
3,702.2 |
4,039.1 |
3,624.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
163.9 |
164.0 |
164.0 |
164.0 |
164.1 |
|
Total Common Shares Outstanding |
163.9 |
164.0 |
164.0 |
164.0 |
164.1 |
|
T/S-Common Stock |
0.7 |
0.6 |
0.5 |
0.5 |
0.4 |
|
Advance received |
- |
- |
- |
0.0 |
236.2 |
|
Full-Time Employees |
4,835 |
4,694 |
4,618 |
4,473 |
4,272 |
|
Number of Common Shareholders |
8,721 |
9,025 |
9,286 |
9,367 |
10,391 |
|
LT Debts Maturing within 1yr. |
52.8 |
46.9 |
41.7 |
57.0 |
57.3 |
|
LT Debts Maturing within 2yr. |
70.6 |
39.5 |
40.5 |
35.8 |
46.5 |
|
LT Debts Maturing within 3yr. |
41.1 |
55.9 |
33.1 |
34.0 |
28.7 |
|
LT Debts Maturing within 4yr. |
44.0 |
39.4 |
46.8 |
27.0 |
25.6 |
|
LT Debts Maturing within 5yr. |
24.1 |
19.7 |
32.4 |
41.4 |
17.7 |
|
Remaining |
0.0 |
0.4 |
0.6 |
2.0 |
12.0 |
|
Total Long Term Debt, Supplemental |
232.7 |
201.8 |
194.9 |
197.3 |
187.7 |
|
Capital Leases Maturing within 1 Year |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Leases Maturing within 2 Years |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Leases Maturing within 3 Years |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Leases Maturing within 4 Years |
0.2 |
0.1 |
0.0 |
- |
- |
|
Capital Leases Maturing within 5 Years |
0.0 |
0.0 |
- |
- |
- |
|
Capital Leases - Remaining Maturities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Capital Leases |
1.5 |
0.5 |
0.1 |
- |
- |
|
Pension Obligation |
120.7 |
102.6 |
98.2 |
100.3 |
84.9 |
|
Fair Value of Plan Assets |
75.7 |
64.5 |
54.1 |
69.4 |
66.1 |
|
Funded Status |
-45.0 |
-38.1 |
-44.2 |
-31.0 |
-18.8 |
|
Total Funded Status |
-45.0 |
-38.1 |
-44.2 |
-31.0 |
-18.8 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Unrecognized Prior Service Cost |
-1.9 |
-2.1 |
-2.4 |
-2.8 |
-2.6 |
|
Unrecognized Actuarial Gains and Losses |
15.6 |
14.3 |
22.5 |
8.4 |
-1.4 |
|
Prepaid Pension Benefits |
0.2 |
0.2 |
0.0 |
- |
- |
|
Reserve for Accrued Retirement Benefits |
-31.5 |
-26.1 |
-24.1 |
-25.3 |
-22.9 |
|
Net Assets Recognized on Balance Sheet |
-17.5 |
-13.8 |
-3.9 |
-19.7 |
-26.9 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net income before taxes |
105.9 |
89.0 |
121.2 |
172.2 |
154.6 |
|
Depreciation |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Assets impairment losses |
3.2 |
4.6 |
2.2 |
0.5 |
1.1 |
|
Amortization of goodwill |
3.6 |
1.7 |
2.0 |
2.1 |
1.2 |
|
Amort. of negative goodwill |
0.0 |
-1.1 |
-1.2 |
-0.8 |
-0.3 |
|
Reserve for doubtful accounts |
-9.6 |
-3.6 |
-25.0 |
-14.7 |
-11.4 |
|
Reserve for bonuses |
-0.4 |
-2.5 |
-0.2 |
1.9 |
-0.3 |
|
Reserve for retirement benefits(accrued) |
-2.6 |
0.1 |
-1.5 |
-3.0 |
-2.0 |
|
Guarantee Deposit Loss Reserves |
- |
- |
0.0 |
-1.4 |
0.0 |
|
Reversal of int.& dividends rcvd. |
-7.0 |
-6.8 |
-10.2 |
-13.0 |
-12.9 |
|
Reversal of interest expenses |
16.8 |
18.0 |
29.9 |
35.5 |
32.5 |
|
Equity Gain/Loss |
-17.4 |
-4.0 |
-1.3 |
-3.6 |
-2.4 |
|
Loss on disaster |
6.8 |
0.0 |
- |
- |
- |
|
Loss on retirement of noncurrent assets |
3.1 |
0.0 |
- |
- |
- |
|
G on the sale of fixed assets |
- |
-1.1 |
0.0 |
-0.2 |
-4.2 |
|
L on the sale of fixed assets |
0.1 |
- |
0.5 |
0.0 |
0.8 |
|
L on valuation of LT inv't in secs. |
12.7 |
1.5 |
26.5 |
1.4 |
0.4 |
|
G/L on val. of inv't in closely-held |
4.2 |
2.5 |
5.6 |
0.7 |
- |
|
G on sale of LT inv't in secs. |
-1.1 |
-6.8 |
-3.2 |
-1.6 |
-0.8 |
|
L on sale of LT inv't in secs. |
- |
- |
0.0 |
3.7 |
1.1 |
|
G/L on sale of inv't in closely-held |
0.1 |
-0.1 |
-0.4 |
0.0 |
- |
|
Loss (gain) on step acquisitions |
-1.2 |
0.0 |
- |
- |
- |
|
Loss on adjustment for changes of accoun |
1.9 |
0.0 |
- |
- |
- |
|
Account receivable |
-9.1 |
141.4 |
387.2 |
93.9 |
-207.7 |
|
Inventory |
-87.7 |
215.7 |
-70.2 |
-33.7 |
13.5 |
|
Acts & notes payable |
-12.4 |
-360.5 |
-385.4 |
-90.6 |
110.9 |
|
Director Bonus Paid |
- |
- |
- |
0.0 |
-0.3 |
|
Other operating activities |
-4.1 |
76.7 |
35.9 |
-9.4 |
8.6 |
|
Int & div.received (cash basis) |
13.5 |
10.9 |
15.6 |
13.5 |
13.4 |
|
Interest paid (cash basis) |
-16.4 |
-18.2 |
-28.9 |
-35.2 |
-32.5 |
|
Income taxes paid |
-35.7 |
-52.8 |
-96.0 |
-66.2 |
-18.4 |
|
Newly Consolidated |
- |
- |
- |
0.0 |
1.6 |
|
Adjustment |
- |
0.0 |
- |
- |
- |
|
Cash from Operating Activities |
-6.7 |
124.8 |
20.7 |
67.5 |
61.4 |
|
|
|
|
|
|
|
|
Net change in time deposit |
-0.1 |
0.6 |
0.7 |
0.6 |
0.0 |
|
Capital Expenditure |
-43.5 |
-17.7 |
-29.1 |
-25.9 |
-30.0 |
|
Sale PP&E |
4.3 |
3.2 |
2.0 |
2.4 |
6.8 |
|
Purchase of intangible assets |
-2.9 |
-0.2 |
-0.3 |
-1.6 |
-3.4 |
|
Sale of intangible assets |
0.0 |
0.0 |
0.2 |
0.0 |
0.0 |
|
Purchase of LT inv't in sec. |
-28.3 |
-19.6 |
-11.4 |
-68.0 |
-4.8 |
|
Sale of LT inv't in sec. |
2.3 |
18.5 |
6.5 |
17.4 |
2.0 |
|
Purchase of subs.' securities inflow |
7.3 |
0.0 |
1.6 |
0.4 |
0.1 |
|
Purchase of subs.' securities outflow |
-10.7 |
-4.8 |
0.0 |
-7.1 |
-10.0 |
|
Sale of subsidiaries' securities inflow |
0.7 |
0.0 |
0.0 |
5.7 |
0.0 |
|
Sale of subsidiaries' securities |
0.0 |
-0.5 |
0.0 |
-0.8 |
-0.2 |
|
ST loans, net |
-6.1 |
-0.2 |
0.6 |
0.6 |
0.9 |
|
Purchase of investments in subsidiaries |
-0.4 |
0.0 |
0.0 |
- |
- |
|
LT Loan Made |
-17.6 |
-1.8 |
-1.1 |
-6.1 |
-1.5 |
|
LT Loan Collected |
14.8 |
0.2 |
1.8 |
0.8 |
0.2 |
|
Sale of trust rights |
- |
- |
- |
0.0 |
69.0 |
|
Other investment activities |
2.8 |
1.8 |
1.4 |
-3.8 |
4.8 |
|
Cash from Investing Activities |
-77.4 |
-20.4 |
-27.1 |
-85.5 |
34.0 |
|
|
|
|
|
|
|
|
Change in short-term debt, net |
97.9 |
-84.1 |
56.7 |
21.0 |
-114.4 |
|
Long-term debts issued |
48.4 |
38.3 |
55.3 |
39.0 |
31.7 |
|
Long-term debts repaid |
-66.5 |
-47.6 |
-56.6 |
-59.1 |
-77.6 |
|
Bond redemption |
- |
- |
- |
- |
0.0 |
|
Stocks issued |
- |
- |
- |
0.0 |
72.4 |
|
Dividend Paid |
-9.6 |
-8.8 |
-18.8 |
-15.7 |
-10.0 |
|
Proceed from minorities' payment |
0.0 |
0.1 |
0.0 |
1.1 |
0.9 |
|
Dividends paid to minority shareholders |
-0.3 |
-1.1 |
-0.7 |
-0.6 |
-0.8 |
|
Cash from financing activities |
-1.5 |
-0.1 |
-0.1 |
-0.3 |
-0.5 |
|
Cash from Financing Activities |
68.3 |
-103.3 |
35.8 |
-14.7 |
-98.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.5 |
0.5 |
-4.7 |
0.2 |
0.7 |
|
Net Change in Cash |
-19.4 |
1.5 |
24.7 |
-32.5 |
-2.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
132.7 |
119.1 |
83.9 |
106.2 |
106.2 |
|
Net Cash - Ending Balance |
113.3 |
120.7 |
108.6 |
73.7 |
103.8 |
|
Cash Interest Paid |
16.4 |
18.2 |
28.9 |
35.2 |
32.5 |
|
Cash Taxes Paid |
35.7 |
52.8 |
96.0 |
66.2 |
18.4 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
Revenue |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
Total Revenue |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
8,545.9 |
7,551.8 |
12,179.9 |
10,871.1 |
9,475.3 |
|
Cost of Revenue, Total |
8,545.9 |
7,551.8 |
12,179.9 |
10,871.1 |
9,475.3 |
|
Gross Profit |
683.7 |
595.2 |
669.6 |
633.3 |
594.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
296.6 |
262.1 |
272.1 |
239.4 |
242.0 |
|
Labor & Related Expense |
252.1 |
226.5 |
212.3 |
185.3 |
172.2 |
|
Total Selling/General/Administrative Expenses |
548.7 |
488.7 |
484.4 |
424.7 |
414.2 |
|
Depreciation |
11.6 |
10.0 |
8.9 |
7.7 |
8.2 |
|
Amortization of Acquisition Costs |
2.4 |
0.5 |
0.8 |
1.3 |
0.9 |
|
Depreciation/Amortization |
14.0 |
10.6 |
9.7 |
9.0 |
9.0 |
|
Impairment-Assets Held for Use |
6.4 |
4.6 |
2.2 |
0.5 |
1.1 |
|
Impairment-Assets Held for Sale |
16.9 |
3.9 |
32.1 |
2.1 |
0.4 |
|
Other Unusual Expense (Income) |
8.2 |
1.1 |
-1.3 |
-0.6 |
0.7 |
|
Unusual Expense (Income) |
31.5 |
9.6 |
33.1 |
2.0 |
2.2 |
|
Total Operating Expense |
9,140.1 |
8,060.7 |
12,707.1 |
11,306.7 |
9,900.7 |
|
|
|
|
|
|
|
|
Operating Income |
89.5 |
86.3 |
142.4 |
197.6 |
169.1 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-16.8 |
-18.0 |
-29.9 |
-35.5 |
-32.5 |
|
Interest Expense, Net Non-Operating |
-16.8 |
-18.0 |
-29.9 |
-35.5 |
-32.5 |
|
Interest Income -
Non-Operating |
2.6 |
2.6 |
5.7 |
5.8 |
5.4 |
|
Investment Income -
Non-Operating |
22.5 |
15.2 |
9.5 |
8.7 |
9.6 |
|
Interest/Investment Income - Non-Operating |
25.1 |
17.7 |
15.2 |
14.5 |
15.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
8.3 |
-0.2 |
-14.7 |
-21.0 |
-17.5 |
|
Gain (Loss) on Sale of Assets |
-0.1 |
0.9 |
-5.0 |
0.2 |
3.4 |
|
Other Non-Operating Income (Expense) |
8.3 |
2.2 |
-1.4 |
-4.6 |
-0.4 |
|
Other, Net |
8.3 |
2.2 |
-1.4 |
-4.6 |
-0.4 |
|
Income Before Tax |
106.1 |
89.1 |
121.3 |
172.2 |
154.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
38.5 |
41.4 |
58.2 |
74.0 |
72.6 |
|
Income After Tax |
67.6 |
47.7 |
63.2 |
98.3 |
82.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.4 |
1.7 |
-0.7 |
-2.6 |
-1.1 |
|
Net Income Before Extraord Items |
67.2 |
49.5 |
62.5 |
95.7 |
81.0 |
|
Net Income |
67.2 |
49.5 |
62.5 |
95.7 |
81.0 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Total Adjustments to Net Income |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Common Excl Extraord Items |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
163.9 |
164.0 |
164.0 |
164.0 |
147.7 |
|
Basic EPS Excl Extraord Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Basic/Primary EPS Incl Extraord Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
Diluted Weighted Average Shares |
163.9 |
164.0 |
164.0 |
164.0 |
147.7 |
|
Diluted EPS Excl Extraord Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Diluted EPS Incl Extraord Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Dividends per Share - Common Stock Primary Issue |
0.07 |
0.05 |
0.08 |
0.10 |
0.09 |
|
Gross Dividends - Common Stock |
11.5 |
8.8 |
13.0 |
15.8 |
13.4 |
|
Interest Expense, Supplemental |
16.8 |
18.0 |
29.9 |
35.5 |
32.5 |
|
Depreciation, Supplemental |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Total Special Items |
35.3 |
9.3 |
38.8 |
3.1 |
-0.3 |
|
Normalized Income Before Tax |
141.3 |
98.4 |
160.2 |
175.4 |
154.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
11.5 |
4.1 |
18.2 |
0.8 |
-0.6 |
|
Inc Tax Ex Impact of Sp Items |
50.0 |
45.5 |
76.4 |
74.8 |
72.1 |
|
Normalized Income After Tax |
91.4 |
53.0 |
83.8 |
100.6 |
82.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
90.9 |
54.6 |
83.0 |
98.0 |
81.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.55 |
0.33 |
0.51 |
0.60 |
0.55 |
|
Diluted Normalized EPS |
0.55 |
0.33 |
0.51 |
0.60 |
0.55 |
|
Amort of Acquisition Costs, Supplemental |
3.6 |
0.5 |
0.8 |
1.3 |
0.9 |
|
Rental Expenses |
51.1 |
47.0 |
45.0 |
38.1 |
37.5 |
|
Research & Development Exp, Supplemental |
- |
0.1 |
0.0 |
0.0 |
0.0 |
|
Reported Operating Profit |
119.7 |
94.6 |
174.2 |
198.8 |
170.9 |
|
Reported Ordinary Profit |
137.0 |
90.6 |
151.1 |
176.1 |
153.7 |
|
Normalized EBIT |
121.0 |
95.9 |
175.5 |
199.7 |
171.3 |
|
Normalized EBITDA |
150.6 |
116.8 |
193.9 |
216.5 |
187.2 |
|
Interest Cost - Domestic |
1.9 |
1.8 |
1.7 |
1.5 |
1.5 |
|
Service Cost - Domestic |
4.5 |
3.9 |
4.1 |
3.4 |
3.5 |
|
Prior Service Cost - Domestic |
-0.5 |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Expected Return on Assets - Domestic |
-1.3 |
-1.0 |
-1.3 |
-1.3 |
-1.2 |
|
Actuarial Gains and Losses - Domestic |
4.3 |
5.2 |
2.1 |
0.8 |
0.8 |
|
Domestic Pension Plan Expense |
9.0 |
9.4 |
6.2 |
4.2 |
4.4 |
|
Defined Contribution Expense - Domestic |
5.3 |
3.1 |
2.7 |
3.1 |
2.5 |
|
Total Pension Expense |
14.2 |
12.5 |
8.9 |
7.3 |
6.8 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Total Plan Interest Cost |
1.9 |
1.8 |
1.7 |
1.5 |
1.5 |
|
Total Plan Service Cost |
4.5 |
3.9 |
4.1 |
3.4 |
3.5 |
|
Total Plan Expected Return |
-1.3 |
-1.0 |
-1.3 |
-1.3 |
-1.2 |
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 |
2,355.9 |
2,441.2 |
2,431.7 |
2,288.6 |
2,094.9 |
|
Revenue |
2,355.9 |
2,441.2 |
2,431.7 |
2,288.6 |
2,094.9 |
|
Total Revenue |
2,355.9 |
2,441.2 |
2,431.7 |
2,288.6 |
2,094.9 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,176.5 |
2,245.9 |
2,253.0 |
2,129.2 |
1,941.9 |
|
Cost of Revenue, Total |
2,176.5 |
2,245.9 |
2,253.0 |
2,129.2 |
1,941.9 |
|
Gross Profit |
179.4 |
195.3 |
178.7 |
159.4 |
153.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
141.9 |
87.6 |
92.1 |
90.5 |
74.5 |
|
Labor & Related Expense |
- |
59.4 |
56.4 |
53.3 |
48.4 |
|
Total Selling/General/Administrative Expenses |
141.9 |
147.0 |
148.5 |
143.9 |
122.9 |
|
Amortization of Acquisition Costs |
- |
0.4 |
0.6 |
1.0 |
0.5 |
|
Depreciation/Amortization |
- |
0.4 |
0.6 |
1.0 |
0.5 |
|
Impairment-Assets Held for Use |
- |
1.7 |
0.0 |
1.6 |
- |
|
Impairment-Assets Held for Sale |
0.0 |
5.0 |
4.5 |
7.8 |
0.1 |
|
Other Unusual Expense (Income) |
-0.7 |
9.6 |
0.7 |
-0.2 |
1.8 |
|
Unusual Expense (Income) |
-0.6 |
16.3 |
5.2 |
9.1 |
1.9 |
|
Total Operating Expense |
2,317.8 |
2,409.6 |
2,407.2 |
2,283.2 |
2,067.2 |
|
|
|
|
|
|
|
|
Operating Income |
38.1 |
31.6 |
24.5 |
5.3 |
27.8 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-4.4 |
-4.0 |
-4.5 |
-4.3 |
-3.9 |
|
Interest Expense, Net Non-Operating |
-4.4 |
-4.0 |
-4.5 |
-4.3 |
-3.9 |
|
Interest Income -
Non-Operating |
0.8 |
0.6 |
0.7 |
0.7 |
0.7 |
|
Investment Income -
Non-Operating |
-0.1 |
6.2 |
4.8 |
3.1 |
8.4 |
|
Interest/Investment Income - Non-Operating |
0.7 |
6.8 |
5.4 |
3.8 |
9.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
-3.7 |
2.8 |
0.9 |
-0.5 |
5.1 |
|
Gain (Loss) on Sale of Assets |
1.5 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.9 |
8.1 |
1.0 |
-0.5 |
0.1 |
|
Other, Net |
0.9 |
8.1 |
1.0 |
-0.5 |
0.1 |
|
Income Before Tax |
36.9 |
42.5 |
26.4 |
4.3 |
32.9 |
|
|
|
|
|
|
|
|
Total Income Tax |
17.5 |
13.1 |
10.5 |
4.0 |
11.0 |
|
Income After Tax |
19.4 |
29.4 |
15.9 |
0.3 |
22.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.1 |
-2.9 |
0.4 |
1.9 |
0.2 |
|
Net Income Before Extraord Items |
19.5 |
26.4 |
16.4 |
2.2 |
22.1 |
|
Net Income |
19.5 |
26.4 |
16.4 |
2.2 |
22.1 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
19.4 |
26.4 |
16.4 |
2.1 |
22.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
19.4 |
26.4 |
16.4 |
2.1 |
22.1 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
163.4 |
163.9 |
163.9 |
164.0 |
164.0 |
|
Basic EPS Excl Extraord Items |
0.12 |
0.16 |
0.10 |
0.01 |
0.13 |
|
Basic/Primary EPS Incl Extraord Items |
0.12 |
0.16 |
0.10 |
0.01 |
0.13 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
19.4 |
26.4 |
16.4 |
2.1 |
22.1 |
|
Diluted Weighted Average Shares |
163.4 |
163.9 |
163.9 |
164.0 |
164.0 |
|
Diluted EPS Excl Extraord Items |
0.12 |
0.16 |
0.10 |
0.01 |
0.13 |
|
Diluted EPS Incl Extraord Items |
0.12 |
0.16 |
0.10 |
0.01 |
0.13 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.04 |
0.00 |
0.03 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
7.0 |
0.0 |
4.8 |
0.0 |
|
Interest Expense, Supplemental |
4.4 |
4.0 |
4.5 |
4.3 |
3.9 |
|
Depreciation, Supplemental |
6.6 |
8.4 |
6.5 |
6.0 |
5.2 |
|
Total Special Items |
-1.5 |
16.6 |
5.7 |
10.1 |
2.3 |
|
Normalized Income Before Tax |
35.4 |
59.1 |
32.1 |
14.5 |
35.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-1.0 |
5.0 |
2.0 |
3.2 |
0.6 |
|
Inc Tax Ex Impact of Sp Items |
16.4 |
18.1 |
12.5 |
7.2 |
11.6 |
|
Normalized Income After Tax |
18.9 |
41.0 |
19.6 |
7.2 |
23.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.0 |
38.0 |
20.1 |
9.1 |
23.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.12 |
0.23 |
0.12 |
0.06 |
0.15 |
|
Diluted Normalized EPS |
0.12 |
0.23 |
0.12 |
0.06 |
0.15 |
|
Amort of Acquisition Costs, Supplemental |
0.7 |
0.3 |
0.6 |
1.0 |
0.5 |
|
Reported Operating Profit |
37.5 |
47.6 |
29.3 |
14.2 |
29.4 |
|
Reported Ordinary Profit |
36.8 |
59.4 |
30.7 |
13.0 |
34.8 |
|
Normalized EBIT |
37.5 |
47.9 |
29.6 |
14.5 |
29.7 |
|
Normalized EBITDA |
44.7 |
56.7 |
36.7 |
21.5 |
35.4 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
117.6 |
120.1 |
111.2 |
86.1 |
104.6 |
|
Short Term Investments |
- |
- |
0.0 |
0.2 |
0.0 |
|
Cash and Short Term Investments |
117.6 |
120.1 |
111.2 |
86.2 |
104.6 |
|
Accounts Receivable -
Trade, Gross |
2,511.1 |
2,209.1 |
2,216.2 |
2,603.4 |
2,271.0 |
|
Provision for Doubtful
Accounts |
-26.1 |
-27.5 |
-26.1 |
-31.1 |
-33.8 |
|
Trade Accounts Receivable - Net |
2,485.0 |
2,181.5 |
2,190.0 |
2,572.3 |
2,237.2 |
|
Total Receivables, Net |
2,485.0 |
2,181.5 |
2,190.0 |
2,572.3 |
2,237.2 |
|
Inventories - Finished Goods |
517.8 |
380.7 |
499.0 |
- |
- |
|
Inventories - Work In Progress |
11.0 |
8.4 |
9.2 |
- |
- |
|
Inventories - Raw Materials |
88.3 |
51.6 |
104.8 |
- |
- |
|
Inventories - Other |
- |
- |
- |
0.0 |
236.7 |
|
Total Inventory |
617.1 |
440.7 |
613.0 |
548.7 |
664.1 |
|
Deferred Income Tax - Current Asset |
24.1 |
21.6 |
24.7 |
21.5 |
12.5 |
|
Other Current Assets |
101.4 |
100.2 |
206.1 |
189.0 |
89.7 |
|
Other Current Assets, Total |
125.5 |
121.8 |
230.7 |
210.5 |
102.2 |
|
Total Current Assets |
3,345.2 |
2,864.2 |
3,145.0 |
3,417.8 |
3,108.0 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
383.3 |
291.6 |
277.6 |
271.1 |
220.1 |
|
Goodwill, Net |
7.6 |
9.0 |
3.6 |
4.5 |
5.1 |
|
Intangibles, Net |
6.9 |
5.9 |
6.4 |
8.9 |
7.2 |
|
LT Investments - Other |
222.9 |
190.0 |
166.9 |
228.0 |
191.9 |
|
Long Term Investments |
222.9 |
190.0 |
166.9 |
228.0 |
191.9 |
|
Note Receivable - Long Term |
14.6 |
9.2 |
5.6 |
32.2 |
29.5 |
|
Deferred Income Tax - Long Term Asset |
17.7 |
16.5 |
12.8 |
5.8 |
5.2 |
|
Other Long Term Assets |
84.7 |
81.7 |
84.4 |
70.9 |
57.5 |
|
Other Long Term Assets, Total |
102.4 |
98.1 |
97.3 |
76.7 |
62.7 |
|
Total Assets |
4,082.9 |
3,468.0 |
3,702.2 |
4,039.2 |
3,624.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
2,060.5 |
1,813.1 |
2,044.4 |
2,428.6 |
2,128.4 |
|
Accrued Expenses |
14.7 |
13.5 |
15.0 |
15.7 |
10.8 |
|
Notes Payable/Short Term Debt |
848.1 |
709.7 |
702.9 |
702.2 |
583.5 |
|
Current Portion - Long Term Debt/Capital Leases |
51.9 |
47.0 |
41.7 |
0.0 |
- |
|
Customer Advances |
- |
- |
- |
- |
236.2 |
|
Income Taxes Payable |
15.7 |
14.9 |
27.6 |
55.4 |
42.5 |
|
Deferred Income Tax - Current Liability |
0.1 |
0.0 |
0.2 |
0.0 |
0.1 |
|
Other Current Liabilities |
128.9 |
76.9 |
155.1 |
138.4 |
47.7 |
|
Other Current liabilities, Total |
144.7 |
91.8 |
182.9 |
193.8 |
326.4 |
|
Total Current Liabilities |
3,119.9 |
2,675.1 |
2,987.0 |
3,340.4 |
3,049.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
179.9 |
155.0 |
153.3 |
140.2 |
130.4 |
|
Capital Lease Obligations |
1.1 |
0.4 |
0.1 |
0.0 |
- |
|
Total Long Term Debt |
180.9 |
155.4 |
153.3 |
140.2 |
130.4 |
|
Total Debt |
1,081.0 |
912.1 |
898.0 |
842.5 |
713.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
12.5 |
6.6 |
6.5 |
10.3 |
24.4 |
|
Deferred Income Tax |
12.5 |
6.6 |
6.5 |
10.3 |
24.4 |
|
Minority Interest |
31.9 |
19.0 |
19.9 |
20.5 |
13.5 |
|
Reserves |
0.5 |
0.0 |
- |
0.0 |
1.3 |
|
Pension Benefits - Underfunded |
35.5 |
29.4 |
27.8 |
30.5 |
22.9 |
|
Other Long Term Liabilities |
17.0 |
16.4 |
17.1 |
17.1 |
17.3 |
|
Other Liabilities, Total |
53.0 |
45.8 |
44.8 |
47.7 |
41.5 |
|
Total Liabilities |
3,398.2 |
2,901.9 |
3,211.5 |
3,559.1 |
3,259.0 |
|
|
|
|
|
|
|
|
Common Stock |
148.8 |
132.0 |
124.9 |
123.9 |
104.5 |
|
Common Stock |
148.8 |
132.0 |
124.9 |
123.9 |
104.5 |
|
Additional Paid-In Capital |
85.5 |
75.8 |
71.7 |
71.2 |
60.0 |
|
Retained Earnings (Accumulated Deficit) |
477.0 |
368.6 |
309.9 |
267.3 |
148.2 |
|
Treasury Stock - Common |
-2.5 |
-2.0 |
-1.9 |
-1.8 |
-1.2 |
|
Unrealized Gain (Loss) |
8.8 |
9.0 |
6.2 |
13.8 |
49.3 |
|
Translation Adjustment |
-33.0 |
-17.4 |
-20.1 |
5.5 |
4.6 |
|
Other Equity |
- |
- |
- |
0.0 |
- |
|
Other Equity, Total |
-33.0 |
-17.4 |
-20.1 |
5.6 |
4.6 |
|
Total Equity |
684.7 |
566.0 |
490.7 |
480.1 |
365.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,082.9 |
3,468.0 |
3,702.2 |
4,039.1 |
3,624.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
163.9 |
164.0 |
164.0 |
164.0 |
164.1 |
|
Total Common Shares Outstanding |
163.9 |
164.0 |
164.0 |
164.0 |
164.1 |
|
Treasury Shares - Common Stock Primary Issue |
0.7 |
0.6 |
0.5 |
0.5 |
0.4 |
|
Employees |
4,835 |
4,694 |
4,618 |
4,473 |
4,272 |
|
Number of Common Shareholders |
8,721 |
9,025 |
9,286 |
9,367 |
10,391 |
|
Deferred Revenue - Current |
- |
- |
- |
0.0 |
236.2 |
|
Total Long Term Debt, Supplemental |
232.7 |
201.8 |
194.9 |
197.3 |
187.7 |
|
Long Term Debt Maturing within 1 Year |
52.8 |
46.9 |
41.7 |
57.0 |
57.3 |
|
Long Term Debt Maturing in Year 2 |
70.6 |
39.5 |
40.5 |
35.8 |
46.5 |
|
Long Term Debt Maturing in Year 3 |
41.1 |
55.9 |
33.1 |
34.0 |
28.7 |
|
Long Term Debt Maturing in Year 4 |
44.0 |
39.4 |
46.8 |
27.0 |
25.6 |
|
Long Term Debt Maturing in Year 5 |
24.1 |
19.7 |
32.4 |
41.4 |
17.7 |
|
Long Term Debt Maturing in 2-3 Years |
111.8 |
95.4 |
73.5 |
69.9 |
75.2 |
|
Long Term Debt Maturing in 4-5 Years |
68.1 |
59.1 |
79.2 |
68.4 |
43.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.4 |
0.6 |
2.0 |
12.0 |
|
Total Capital Leases, Supplemental |
1.5 |
0.5 |
0.1 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
0.2 |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.8 |
0.3 |
0.0 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.2 |
0.1 |
0.0 |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
120.7 |
102.6 |
98.2 |
100.3 |
84.9 |
|
Plan Assets - Domestic |
75.7 |
64.5 |
54.1 |
69.4 |
66.1 |
|
Funded Status - Domestic |
-45.0 |
-38.1 |
-44.2 |
-31.0 |
-18.8 |
|
Total Funded Status |
-45.0 |
-38.1 |
-44.2 |
-31.0 |
-18.8 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Prepaid Benefits - Domestic |
0.2 |
0.2 |
0.0 |
- |
- |
|
Accrued Liabilities - Domestic |
-31.5 |
-26.1 |
-24.1 |
-25.3 |
-22.9 |
|
Other Assets, Net - Domestic |
13.7 |
12.1 |
20.1 |
5.6 |
-4.1 |
|
Net Assets Recognized on Balance Sheet |
-17.5 |
-13.8 |
-3.9 |
-19.7 |
-26.9 |
|
Total Plan Obligations |
120.7 |
102.6 |
98.2 |
100.3 |
84.9 |
|
Total Plan Assets |
75.7 |
64.5 |
54.1 |
69.4 |
66.1 |
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 |
116.2 |
117.6 |
119.0 |
148.4 |
106.9 |
|
Cash and Short Term Investments |
116.2 |
117.6 |
119.0 |
148.4 |
106.9 |
|
Accounts Receivable -
Trade, Gross |
2,565.9 |
2,511.1 |
2,737.6 |
2,450.5 |
2,312.7 |
|
Provision for Doubtful
Accounts |
-25.3 |
-26.1 |
-34.0 |
-28.7 |
-28.8 |
|
Trade Accounts Receivable - Net |
2,540.6 |
2,485.0 |
2,703.6 |
2,421.8 |
2,283.9 |
|
Total Receivables, Net |
2,540.6 |
2,485.0 |
2,703.6 |
2,421.8 |
2,283.9 |
|
Inventories - Finished Goods |
- |
517.8 |
512.5 |
511.3 |
400.6 |
|
Inventories - Work In Progress |
- |
11.0 |
15.3 |
17.6 |
9.0 |
|
Inventories - Raw Materials |
- |
88.3 |
82.1 |
73.5 |
62.8 |
|
Total Inventory |
705.9 |
617.1 |
609.9 |
602.4 |
472.4 |
|
Other Current Assets |
111.8 |
125.5 |
139.6 |
133.6 |
143.6 |
|
Other Current Assets, Total |
111.8 |
125.5 |
139.6 |
133.6 |
143.6 |
|
Total Current Assets |
3,474.5 |
3,345.2 |
3,572.1 |
3,306.2 |
3,006.9 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Gross |
- |
653.2 |
666.4 |
643.1 |
556.0 |
|
Accumulated Depreciation |
- |
-269.9 |
-276.0 |
-266.6 |
-235.7 |
|
Property/Plant/Equipment - Net |
398.8 |
383.3 |
390.5 |
376.5 |
320.3 |
|
Goodwill, Net |
9.4 |
7.6 |
9.4 |
10.0 |
8.7 |
|
Intangibles, Net |
8.9 |
6.9 |
6.3 |
7.4 |
6.3 |
|
Other Long Term Assets |
357.1 |
340.0 |
350.2 |
340.2 |
336.8 |
|
Other Long Term Assets, Total |
357.1 |
340.0 |
350.2 |
340.2 |
336.8 |
|
Total Assets |
4,248.7 |
4,082.9 |
4,328.5 |
4,040.3 |
3,678.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
2,081.5 |
2,060.5 |
2,295.4 |
2,088.5 |
1,862.1 |
|
Accrued Expenses |
6.0 |
14.7 |
4.2 |
15.2 |
5.7 |
|
Notes Payable/Short Term Debt |
1,004.4 |
848.1 |
941.7 |
873.6 |
798.4 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
51.9 |
- |
- |
- |
|
Income Taxes Payable |
14.2 |
15.7 |
5.7 |
17.7 |
9.8 |
|
Other Current Liabilities |
139.4 |
129.0 |
147.3 |
146.7 |
151.6 |
|
Other Current liabilities, Total |
153.6 |
144.7 |
153.0 |
164.4 |
161.3 |
|
Total Current Liabilities |
3,245.5 |
3,119.9 |
3,394.3 |
3,141.7 |
2,827.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
190.5 |
179.9 |
163.0 |
162.1 |
165.4 |
|
Capital Lease Obligations |
- |
1.1 |
- |
- |
- |
|
Total Long Term Debt |
190.5 |
180.9 |
163.0 |
162.1 |
165.4 |
|
Total Debt |
1,194.9 |
1,081.0 |
1,104.8 |
1,035.7 |
963.8 |
|
|
|
|
|
|
|
|
Minority Interest |
31.2 |
31.9 |
29.9 |
29.9 |
20.6 |
|
Reserves |
0.5 |
0.5 |
1.5 |
1.0 |
- |
|
Pension Benefits - Underfunded |
35.8 |
35.5 |
37.1 |
36.7 |
30.2 |
|
Other Long Term Liabilities |
29.8 |
29.5 |
32.5 |
31.6 |
26.3 |
|
Other Liabilities, Total |
66.2 |
65.5 |
71.1 |
69.4 |
56.5 |
|
Total Liabilities |
3,533.4 |
3,398.2 |
3,658.4 |
3,403.0 |
3,070.0 |
|
|
|
|
|
|
|
|
Common Stock |
152.7 |
148.8 |
152.1 |
147.7 |
139.4 |
|
Common Stock |
152.7 |
148.8 |
152.1 |
147.7 |
139.4 |
|
Additional Paid-In Capital |
87.7 |
85.5 |
87.3 |
84.8 |
80.1 |
|
Retained Earnings (Accumulated Deficit) |
502.1 |
477.0 |
460.6 |
435.9 |
408.6 |
|
Treasury Stock - Common |
-5.3 |
-2.5 |
-2.5 |
-2.2 |
-2.1 |
|
Unrealized Gain (Loss) |
6.6 |
8.8 |
3.0 |
-1.8 |
-0.6 |
|
Translation Adjustment |
-28.4 |
-33.0 |
-30.3 |
-27.1 |
-16.3 |
|
Other Equity, Total |
-28.4 |
-33.0 |
-30.3 |
-27.1 |
-16.3 |
|
Total Equity |
715.3 |
684.7 |
670.2 |
637.3 |
609.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,248.7 |
4,082.9 |
4,328.5 |
4,040.3 |
3,678.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
162.6 |
163.9 |
163.9 |
164.0 |
164.0 |
|
Total Common Shares Outstanding |
162.6 |
163.9 |
163.9 |
164.0 |
164.0 |
|
Treasury Shares - Common Stock Primary Issue |
1.9 |
0.7 |
0.7 |
0.6 |
0.6 |
|
Employees |
- |
4,835 |
4,963 |
4,982 |
4,704 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
105.9 |
89.0 |
121.2 |
172.2 |
154.6 |
|
Depreciation |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Depreciation/Depletion |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Amortization of Acquisition Costs |
3.6 |
0.5 |
0.8 |
1.3 |
0.9 |
|
Amortization |
3.6 |
0.5 |
0.8 |
1.3 |
0.9 |
|
Unusual Items |
29.9 |
0.5 |
31.1 |
4.5 |
-1.5 |
|
Equity in Net Earnings (Loss) |
-17.4 |
-4.0 |
-1.3 |
-3.6 |
-2.4 |
|
Other Non-Cash Items |
-2.5 |
7.6 |
-6.8 |
3.4 |
7.8 |
|
Non-Cash Items |
10.0 |
4.2 |
23.1 |
4.3 |
3.8 |
|
Accounts Receivable |
-9.1 |
141.4 |
387.2 |
93.9 |
-207.7 |
|
Inventories |
-87.7 |
215.7 |
-70.2 |
-33.7 |
13.5 |
|
Accounts Payable |
-12.4 |
-360.5 |
-385.4 |
-90.6 |
110.9 |
|
Accrued Expenses |
-0.4 |
-2.5 |
-0.2 |
1.9 |
-0.3 |
|
Other Operating Cash Flow |
-42.7 |
16.6 |
-73.4 |
-97.3 |
-29.3 |
|
Changes in Working Capital |
-152.2 |
10.7 |
-142.0 |
-125.8 |
-112.9 |
|
Cash from Operating Activities |
-6.7 |
124.8 |
20.7 |
67.5 |
61.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-43.5 |
-17.7 |
-29.1 |
-25.9 |
-30.0 |
|
Purchase/Acquisition of Intangibles |
-2.9 |
-0.2 |
-0.3 |
-1.6 |
-3.4 |
|
Capital Expenditures |
-46.4 |
-17.8 |
-29.4 |
-27.5 |
-33.4 |
|
Sale of Fixed Assets |
4.3 |
3.2 |
2.0 |
2.4 |
6.8 |
|
Sale/Maturity of Investment |
3.0 |
18.5 |
6.5 |
23.1 |
71.0 |
|
Investment, Net |
7.2 |
0.2 |
2.3 |
0.1 |
-0.1 |
|
Purchase of Investments |
-39.5 |
-24.5 |
-11.4 |
-75.1 |
-14.8 |
|
Sale of Intangible Assets |
0.0 |
0.0 |
0.2 |
0.0 |
0.0 |
|
Other Investing Cash Flow |
-6.0 |
0.0 |
2.7 |
-8.5 |
4.4 |
|
Other Investing Cash Flow Items, Total |
-31.0 |
-2.6 |
2.3 |
-58.0 |
67.4 |
|
Cash from Investing Activities |
-77.4 |
-20.4 |
-27.1 |
-85.5 |
34.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-1.8 |
-1.1 |
-0.8 |
0.1 |
-0.5 |
|
Financing Cash Flow Items |
-1.8 |
-1.1 |
-0.8 |
0.1 |
-0.5 |
|
Cash Dividends Paid - Common |
-9.6 |
-8.8 |
-18.8 |
-15.7 |
-10.0 |
|
Total Cash Dividends Paid |
-9.6 |
-8.8 |
-18.8 |
-15.7 |
-10.0 |
|
Sale/Issuance of
Common |
- |
- |
- |
0.0 |
72.4 |
|
Common Stock, Net |
- |
- |
- |
0.0 |
72.4 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
- |
0.0 |
72.4 |
|
Short Term Debt, Net |
97.9 |
-84.1 |
56.7 |
21.0 |
-114.4 |
|
Long Term Debt Issued |
48.4 |
38.3 |
55.3 |
39.0 |
31.7 |
|
Long Term Debt
Reduction |
-66.5 |
-47.6 |
-56.6 |
-59.1 |
-77.6 |
|
Long Term Debt, Net |
-18.1 |
-9.3 |
-1.3 |
-20.1 |
-45.9 |
|
Issuance (Retirement) of Debt, Net |
79.8 |
-93.3 |
55.4 |
0.9 |
-160.3 |
|
Cash from Financing Activities |
68.3 |
-103.3 |
35.8 |
-14.7 |
-98.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.5 |
0.5 |
-4.7 |
0.2 |
0.7 |
|
Net Change in Cash |
-19.4 |
1.5 |
24.7 |
-32.5 |
-2.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
132.7 |
119.1 |
83.9 |
106.2 |
106.2 |
|
Net Cash - Ending Balance |
113.3 |
120.7 |
108.6 |
73.7 |
103.8 |
|
Cash Interest Paid |
16.4 |
18.2 |
28.9 |
35.2 |
32.5 |
|
Cash Taxes Paid |
35.7 |
52.8 |
96.0 |
66.2 |
18.4 |
Interim
Cash Flows
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
12 Months |
9 Months |
6 Months |
3 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 |
86.812446 |
88.962162 |
92.080323 |
92.941082 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
105.9 |
64.3 |
38.3 |
32.9 |
89.0 |
|
Depreciation |
25.9 |
17.6 |
11.2 |
5.2 |
20.4 |
|
Depreciation/Depletion |
25.9 |
17.6 |
11.2 |
5.2 |
20.4 |
|
Amortization of Acquisition Costs |
3.6 |
2.0 |
1.5 |
0.5 |
0.5 |
|
Amortization |
3.6 |
2.0 |
1.5 |
0.5 |
0.5 |
|
Unusual Items |
29.9 |
12.8 |
9.3 |
1.8 |
0.5 |
|
Equity in Net Earnings (Loss) |
-17.4 |
-12.2 |
-9.1 |
-6.7 |
-4.0 |
|
Other Non-Cash Items |
-2.5 |
6.2 |
5.3 |
0.8 |
7.6 |
|
Non-Cash Items |
10.0 |
6.8 |
5.5 |
-4.1 |
4.2 |
|
Accounts Receivable |
-9.1 |
-167.7 |
33.3 |
22.1 |
141.4 |
|
Inventories |
-87.7 |
-65.9 |
-72.4 |
-4.3 |
215.7 |
|
Accounts Payable |
-12.4 |
163.7 |
26.9 |
-53.7 |
-360.5 |
|
Accrued Expenses |
-0.4 |
-10.4 |
0.2 |
-8.3 |
-2.5 |
|
Other Operating Cash Flow |
-42.7 |
-30.9 |
-21.2 |
-19.9 |
16.6 |
|
Changes in Working Capital |
-152.2 |
-111.3 |
-33.2 |
-64.1 |
10.7 |
|
Cash from Operating Activities |
-6.7 |
-20.5 |
23.2 |
-29.5 |
124.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-43.5 |
-33.8 |
-19.6 |
-11.0 |
-17.7 |
|
Purchase/Acquisition of Intangibles |
-2.9 |
- |
- |
- |
-0.2 |
|
Capital Expenditures |
-46.4 |
-33.8 |
-19.6 |
-11.0 |
-17.8 |
|
Sale of Fixed Assets |
4.3 |
2.7 |
2.5 |
0.4 |
3.2 |
|
Sale/Maturity of Investment |
3.0 |
2.5 |
0.8 |
0.0 |
18.5 |
|
Investment, Net |
7.2 |
7.2 |
7.1 |
- |
0.2 |
|
Purchase of Investments |
-39.5 |
-37.7 |
-34.6 |
-18.1 |
-24.5 |
|
Sale of Intangible Assets |
0.0 |
- |
- |
- |
0.0 |
|
Other Investing Cash Flow |
-6.0 |
-7.4 |
-2.9 |
-7.7 |
0.0 |
|
Other Investing Cash Flow Items, Total |
-31.0 |
-32.6 |
-27.1 |
-25.4 |
-2.6 |
|
Cash from Investing Activities |
-77.4 |
-66.4 |
-46.7 |
-36.4 |
-20.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-1.8 |
-1.1 |
-0.9 |
-0.3 |
-1.1 |
|
Financing Cash Flow Items |
-1.8 |
-1.1 |
-0.9 |
-0.3 |
-1.1 |
|
Cash Dividends Paid - Common |
-9.6 |
-9.4 |
-4.6 |
-3.9 |
-8.8 |
|
Total Cash Dividends Paid |
-9.6 |
-9.4 |
-4.6 |
-3.9 |
-8.8 |
|
Short Term Debt, Net |
97.9 |
115.1 |
74.5 |
48.1 |
-84.1 |
|
Long Term Debt Issued |
48.4 |
15.6 |
3.9 |
4.2 |
38.3 |
|
Long Term Debt
Reduction |
-66.5 |
-51.2 |
-37.5 |
-3.4 |
-47.6 |
|
Long Term Debt, Net |
-18.1 |
-35.6 |
-33.6 |
0.7 |
-9.3 |
|
Issuance (Retirement) of Debt, Net |
79.8 |
79.5 |
40.9 |
48.8 |
-93.3 |
|
Cash from Financing Activities |
68.3 |
69.0 |
35.4 |
44.6 |
-103.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.5 |
-2.8 |
-1.4 |
0.4 |
0.5 |
|
Net Change in Cash |
-19.4 |
-20.7 |
10.5 |
-20.9 |
1.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
132.7 |
131.0 |
127.8 |
123.5 |
119.1 |
|
Net Cash - Ending Balance |
113.3 |
110.2 |
138.3 |
102.6 |
120.7 |
|
Cash Interest Paid |
16.4 |
12.0 |
8.0 |
3.0 |
18.2 |
|
Cash Taxes Paid |
35.7 |
34.0 |
13.3 |
14.1 |
52.8 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
Total Revenue |
9,229.6 |
8,146.9 |
12,849.5 |
11,504.3 |
10,069.8 |
|
|
|
|
|
|
|
|
Cost of sales |
8,545.9 |
7,551.8 |
12,179.9 |
10,871.1 |
9,475.3 |
|
Shipping,Storage |
72.6 |
66.6 |
74.8 |
70.6 |
72.5 |
|
Sales Expense |
31.4 |
30.4 |
27.4 |
24.8 |
26.8 |
|
Allow.Doubt.Act. |
0.0 |
0.3 |
0.0 |
0.3 |
0.7 |
|
Salaries |
189.1 |
171.8 |
162.0 |
140.2 |
133.9 |
|
Res-Bonuses |
13.5 |
12.4 |
12.5 |
11.1 |
9.6 |
|
Res-Acd.Retirement |
- |
- |
0.0 |
0.6 |
0.6 |
|
Periodic retirement benefit costs |
13.4 |
11.2 |
7.8 |
6.4 |
5.9 |
|
Director'sPeriodic retire. benefit costs |
0.9 |
0.9 |
1.1 |
2.3 |
0.0 |
|
Welfare |
35.2 |
30.1 |
28.9 |
24.6 |
22.3 |
|
Transportation |
23.1 |
20.4 |
22.1 |
18.8 |
17.8 |
|
Rent |
51.1 |
47.0 |
45.0 |
38.1 |
37.5 |
|
Consignment |
40.2 |
32.9 |
31.9 |
26.1 |
25.8 |
|
Taxes & Charges |
4.9 |
3.9 |
4.1 |
4.0 |
4.0 |
|
Depreciation |
11.6 |
10.0 |
8.9 |
7.7 |
8.2 |
|
Amort.Consoid.Adj. |
3.6 |
1.7 |
2.0 |
2.1 |
1.2 |
|
Other SG&A |
73.2 |
60.7 |
66.9 |
56.8 |
57.0 |
|
SP Reversal of Allow.Doubt.Acct. |
- |
0.0 |
-0.5 |
0.0 |
- |
|
SP Rev of Allow.Doubt.Acct.-affiliates |
- |
0.0 |
-0.8 |
0.0 |
- |
|
SP Rev. reserve for debts guarantees |
- |
- |
0.0 |
-0.6 |
0.0 |
|
SP Gain on step acquisitions |
-1.2 |
0.0 |
- |
- |
- |
|
SP Loss on disaster |
6.8 |
0.0 |
- |
- |
- |
|
SP Assets impairment losses |
3.2 |
4.6 |
2.2 |
0.5 |
1.1 |
|
SP L on retire. of fixed assets |
3.1 |
0.0 |
- |
- |
- |
|
SP L on val. of LT inv't. secs. |
12.7 |
1.5 |
26.5 |
1.4 |
0.4 |
|
SP Loss-closely-held co. invest. valu. |
4.2 |
2.5 |
5.6 |
0.7 |
- |
|
SP Provision investment loss |
- |
0.0 |
0.0 |
0.0 |
- |
|
SP Prov. affililiated doubtful accounts |
0.2 |
1.1 |
0.0 |
- |
0.0 |
|
SP Reserve for affiliated liq. loss |
0.5 |
0.0 |
- |
0.0 |
0.7 |
|
SP Accrued retirement benef. change exp |
- |
- |
- |
- |
0.0 |
|
SP L-adjust. for change of acct. assets |
1.9 |
0.0 |
- |
- |
- |
|
SP Guarantee Loss Reserves |
- |
- |
- |
- |
0.0 |
|
NOP Amort. negative goodwill |
-1.2 |
-1.1 |
-1.2 |
-0.8 |
-0.3 |
|
Total Operating Expense |
9,140.1 |
8,060.7 |
12,707.1 |
11,306.7 |
9,900.7 |
|
|
|
|
|
|
|
|
SP G on sale of fixed assets |
0.0 |
1.1 |
0.0 |
0.2 |
4.2 |
|
SP G on sale of LT inv't. secs. |
1.5 |
7.7 |
3.5 |
1.6 |
0.8 |
|
SP G on equity changes |
0.0 |
0.1 |
0.0 |
0.4 |
0.0 |
|
SP G-sale of closely-held investment |
0.0 |
0.1 |
0.4 |
0.0 |
- |
|
SP L on equity changes |
-0.4 |
0.0 |
0.0 |
-0.4 |
0.0 |
|
SP L on sale of fixed assets |
-0.1 |
0.0 |
-0.5 |
0.0 |
-0.8 |
|
SP L on sale of inv't in closely-held |
-0.1 |
0.0 |
- |
- |
- |
|
SP L on sale of LT inv't. secs. |
-0.4 |
-0.9 |
-0.3 |
-3.7 |
-1.1 |
|
NOP Interest Income |
2.6 |
2.6 |
5.7 |
5.8 |
5.4 |
|
NOP Dividend Income |
4.4 |
4.2 |
4.5 |
7.2 |
7.5 |
|
NOP Equity earnings |
17.4 |
4.0 |
1.3 |
3.6 |
2.4 |
|
NOP Other non-operating income |
12.2 |
9.4 |
9.1 |
9.0 |
10.6 |
|
NOP Interest Expense |
-16.8 |
-18.0 |
-29.9 |
-35.5 |
-32.5 |
|
NOP Loss-accounts receivable transfer |
- |
-0.2 |
-4.5 |
- |
- |
|
NOP Other non-operating expenses |
-3.9 |
-7.2 |
-10.4 |
-13.6 |
-11.0 |
|
Net Income Before Taxes |
106.1 |
89.1 |
121.3 |
172.2 |
154.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
38.5 |
41.4 |
58.2 |
74.0 |
72.6 |
|
Net Income After Taxes |
67.6 |
47.7 |
63.2 |
98.3 |
82.0 |
|
|
|
|
|
|
|
|
Miniority Interests |
-0.4 |
1.7 |
-0.7 |
-2.6 |
-1.1 |
|
Net Income Before Extra. Items |
67.2 |
49.5 |
62.5 |
95.7 |
81.0 |
|
Net Income |
67.2 |
49.5 |
62.5 |
95.7 |
81.0 |
|
|
|
|
|
|
|
|
Earning Adjustment |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Com Excl ExtraOrd |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
163.9 |
164.0 |
164.0 |
164.0 |
147.7 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Basic EPS Including ExtraOrdinary Item |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
67.1 |
49.4 |
62.4 |
95.6 |
80.9 |
|
Diluted Weighted Average Shares |
163.9 |
164.0 |
164.0 |
164.0 |
147.7 |
|
Diluted EPS Excluding ExtraOrd Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
Diluted EPS Including ExtraOrd Items |
0.41 |
0.30 |
0.38 |
0.58 |
0.55 |
|
DPS-Common Stock |
0.07 |
0.05 |
0.08 |
0.10 |
0.09 |
|
Gross Dividends - Common Stock |
11.5 |
8.8 |
13.0 |
15.8 |
13.4 |
|
Normalized Income Before Taxes |
141.3 |
98.4 |
160.2 |
175.4 |
154.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
50.0 |
45.5 |
76.4 |
74.8 |
72.1 |
|
Normalized Income After Taxes |
91.4 |
53.0 |
83.8 |
100.6 |
82.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
90.9 |
54.6 |
83.0 |
98.0 |
81.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.55 |
0.33 |
0.51 |
0.60 |
0.55 |
|
Diluted Normalized EPS |
0.55 |
0.33 |
0.51 |
0.60 |
0.55 |
|
Depreciation |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Amort of goodwill |
3.6 |
1.7 |
2.0 |
2.1 |
1.2 |
|
Amort of negative goodwill |
0.0 |
-1.1 |
-1.2 |
-0.8 |
-0.3 |
|
Interest Expense |
16.8 |
18.0 |
29.9 |
35.5 |
32.5 |
|
Rental Expense |
51.1 |
47.0 |
45.0 |
38.1 |
37.5 |
|
Research & Development Expenses |
- |
0.1 |
0.0 |
0.0 |
0.0 |
|
Reported Operating Profit |
119.7 |
94.6 |
174.2 |
198.8 |
170.9 |
|
Reported Ordinary Profit |
137.0 |
90.6 |
151.1 |
176.1 |
153.7 |
|
Service Cost |
4.5 |
3.9 |
4.1 |
3.4 |
3.5 |
|
Interest Cost |
1.9 |
1.8 |
1.7 |
1.5 |
1.5 |
|
Expected Return on Plan Assets |
-1.3 |
-1.0 |
-1.3 |
-1.3 |
-1.2 |
|
Prior Service Cost |
-0.5 |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Actuarial Gains and Losses |
4.3 |
5.2 |
2.1 |
0.8 |
0.8 |
|
Domestic Pension Plan Expense |
9.0 |
9.4 |
6.2 |
4.2 |
4.4 |
|
Defined Contribution Expense |
5.3 |
3.1 |
2.7 |
3.1 |
2.5 |
|
Total Pension Expense |
14.2 |
12.5 |
8.9 |
7.3 |
6.8 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
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 |
2,355.9 |
2,441.2 |
2,431.7 |
2,288.6 |
2,094.9 |
|
Total Revenue |
2,355.9 |
2,441.2 |
2,431.7 |
2,288.6 |
2,094.9 |
|
|
|
|
|
|
|
|
Cost of Sales |
2,176.5 |
2,245.9 |
2,253.0 |
2,129.2 |
1,941.9 |
|
Total SG&A |
141.9 |
- |
- |
- |
- |
|
Allow.Doubt.Act. |
- |
- |
1.9 |
2.5 |
- |
|
Salaries |
- |
52.8 |
53.5 |
41.2 |
42.5 |
|
Res-Bonuses |
- |
0.8 |
- |
9.3 |
3.1 |
|
Periodic retirement benefit costs |
- |
5.6 |
2.7 |
2.5 |
2.7 |
|
Res-Director's retirement benefit costs |
- |
0.3 |
0.3 |
0.3 |
0.1 |
|
Amort. of goodwill |
- |
0.7 |
0.9 |
1.3 |
0.7 |
|
Other SG&A |
- |
87.6 |
90.1 |
88.1 |
74.5 |
|
SP G on negative goodwill |
-0.7 |
- |
- |
- |
0.0 |
|
SP Reversal of Allow.Doubt.Acct. |
0.0 |
- |
- |
0.0 |
-0.5 |
|
SP Gain on step acquisitions |
- |
0.0 |
- |
-1.2 |
- |
|
SP Reserve for affiliated comp |
- |
- |
- |
0.0 |
- |
|
SP Allow.Doubt.Affilia. |
0.0 |
- |
0.2 |
0.0 |
0.6 |
|
SP Impairment Loss |
- |
1.7 |
0.0 |
1.6 |
- |
|
SP Loss Reval.Inv.Sec. |
0.0 |
4.0 |
1.9 |
7.0 |
0.1 |
|
SP L on val. of inv't in closely-held |
- |
1.0 |
2.6 |
0.7 |
- |
|
SP L on adj. for changes of acc. assets |
0.0 |
0.0 |
- |
- |
1.7 |
|
SP Reserve for affiliated liq. loss |
- |
- |
0.5 |
1.0 |
- |
|
SP Other Special Loss |
- |
9.6 |
- |
- |
- |
|
NOP Amort. Negative Goodwill |
- |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Total Operating Expense |
2,317.8 |
2,409.6 |
2,407.2 |
2,283.2 |
2,067.2 |
|
|
|
|
|
|
|
|
NOP Interest Income |
0.8 |
0.6 |
0.7 |
0.7 |
0.7 |
|
NOP Dividend Income |
2.3 |
1.5 |
0.9 |
0.4 |
1.7 |
|
NOP Equity Earning |
0.0 |
5.3 |
3.0 |
2.2 |
6.7 |
|
NOP Other Non Op.Income |
2.2 |
8.1 |
1.9 |
3.1 |
1.7 |
|
NOP Interest Expense |
-4.4 |
-4.0 |
-4.5 |
-4.3 |
-3.9 |
|
NOP Equity in losses of affiliates |
-0.3 |
- |
- |
- |
0.0 |
|
NOP Other Non Op.Expense |
-1.3 |
- |
-0.9 |
-3.5 |
-1.6 |
|
SP Gain Sale Fix. Asset |
1.5 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP G on sale of inv't in closely-held |
- |
0.0 |
0.0 |
- |
- |
|
SP Gain Sale Inv.Sec. |
- |
0.0 |
1.0 |
0.6 |
0.0 |
|
SP Gain on equity changes |
- |
0.0 |
- |
- |
0.0 |
|
SP Loss Sale Fixed Assets |
0.0 |
- |
- |
- |
0.0 |
|
SP Loss Sale Inv.Sec. |
- |
-0.4 |
0.0 |
0.0 |
- |
|
SP Loss on equity changes |
-2.1 |
-0.3 |
-0.1 |
0.0 |
0.0 |
|
Net Income Before Taxes |
36.9 |
42.5 |
26.4 |
4.3 |
32.9 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
17.5 |
13.1 |
10.5 |
4.0 |
11.0 |
|
Net Income After Taxes |
19.4 |
29.4 |
15.9 |
0.3 |
22.0 |
|
|
|
|
|
|
|
|
Miniority Interests |
0.1 |
-2.9 |
0.4 |
1.9 |
0.2 |
|
Net Income Before Extra. Items |
19.5 |
26.4 |
16.4 |
2.2 |
22.1 |
|
Net Income |
19.5 |
26.4 |
16.4 |
2.2 |
22.1 |
|
|
|
|
|
|
|
|
Earning Adjustment |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
19.4 |
26.4 |
16.4 |
2.1 |
22.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
19.4 |
26.4 |
16.4 |
2.1 |
22.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
163.4 |
163.9 |
163.9 |
164.0 |
164.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.12 |
0.16 |
0.10 |
0.01 |
0.13 |
|
Basic EPS Including ExtraOrdinary Item |
0.12 |
0.16 |
0.10 |
0.01 |
0.13 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
19.4 |
26.4 |
16.4 |
2.1 |
22.1 |
|
Diluted Weighted Average Shares |
163.4 |
163.9 |
163.9 |
164.0 |
164.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.12 |
0.16 |
0.10 |
0.01 |
0.13 |
|
Diluted EPS Including ExtraOrd Items |
0.12 |
0.16 |
0.10 |
0.01 |
0.13 |
|
DPS-Common Stock |
0.00 |
0.04 |
0.00 |
0.03 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
7.0 |
0.0 |
4.8 |
0.0 |
|
Normalized Income Before Taxes |
35.4 |
59.1 |
32.1 |
14.5 |
35.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
16.4 |
18.1 |
12.5 |
7.2 |
11.6 |
|
Normalized Income After Taxes |
18.9 |
41.0 |
19.6 |
7.2 |
23.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.0 |
38.0 |
20.1 |
9.1 |
23.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.12 |
0.23 |
0.12 |
0.06 |
0.15 |
|
Diluted Normalized EPS |
0.12 |
0.23 |
0.12 |
0.06 |
0.15 |
|
Amort of goodwill |
0.7 |
0.7 |
0.9 |
1.3 |
0.7 |
|
Amort of negative goodwill |
- |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Depreciation |
6.6 |
8.4 |
6.5 |
6.0 |
5.2 |
|
Interest Expense |
4.4 |
4.0 |
4.5 |
4.3 |
3.9 |
|
Reported Operating Profit |
37.5 |
47.6 |
29.3 |
14.2 |
29.4 |
|
Reported Ordinary Profit |
36.8 |
59.4 |
30.7 |
13.0 |
34.8 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & deposits |
117.6 |
120.1 |
111.2 |
86.1 |
104.6 |
|
Accounts & notes receivable, gross |
2,511.1 |
2,209.1 |
2,216.2 |
2,603.4 |
2,271.0 |
|
Marketable securities |
- |
- |
0.0 |
0.2 |
0.0 |
|
Inventories |
- |
- |
- |
548.7 |
427.4 |
|
Inventories - merchandise&finished goods |
517.8 |
380.7 |
499.0 |
- |
- |
|
Inventories - raw materials&supplies |
88.3 |
51.6 |
104.8 |
- |
- |
|
Inventories - work-in-process |
11.0 |
8.4 |
9.2 |
- |
- |
|
Advance payments |
- |
- |
- |
0.0 |
236.7 |
|
Deferred income taxes (current) |
24.1 |
21.6 |
24.7 |
21.5 |
12.5 |
|
Current assets other |
101.4 |
100.2 |
206.1 |
189.0 |
89.7 |
|
Allow.doubt.accounts (current) |
-26.1 |
-27.5 |
-26.1 |
-31.1 |
-33.8 |
|
Total Current Assets |
3,345.2 |
2,864.2 |
3,145.0 |
3,417.8 |
3,108.0 |
|
|
|
|
|
|
|
|
Buildings & structures, net |
108.7 |
79.0 |
76.1 |
75.8 |
62.1 |
|
Machineries, equipment, &vehicles, net |
50.4 |
46.2 |
42.2 |
38.1 |
31.1 |
|
Furniture, & fixtures, net |
13.7 |
11.0 |
11.3 |
9.3 |
8.0 |
|
Land |
207.6 |
152.5 |
146.4 |
142.2 |
117.6 |
|
Lease assets, net |
0.8 |
0.5 |
0.1 |
0.0 |
- |
|
Construction-in-progress |
2.0 |
2.4 |
1.5 |
5.7 |
1.2 |
|
Goodwill |
7.6 |
9.0 |
3.6 |
4.5 |
5.1 |
|
Other intangible assets |
6.9 |
5.9 |
6.4 |
8.9 |
7.2 |
|
Long-term investment in securities |
222.9 |
190.0 |
166.9 |
228.0 |
191.9 |
|
LT Loan |
14.6 |
9.2 |
5.6 |
32.2 |
29.5 |
|
Deferred inc. taxes (non-current) |
17.7 |
16.5 |
12.8 |
5.8 |
5.2 |
|
Other assets |
124.3 |
117.3 |
121.2 |
128.0 |
112.1 |
|
Allow.doubt.accounts (non-current) |
-39.6 |
-35.6 |
-36.8 |
-57.0 |
-54.7 |
|
Res.Inv.Loss |
- |
0.0 |
0.0 |
0.0 |
- |
|
Total Assets |
4,082.9 |
3,468.0 |
3,702.2 |
4,039.2 |
3,624.5 |
|
|
|
|
|
|
|
|
Trade accounts & notes payable |
2,060.5 |
1,813.1 |
2,044.4 |
2,428.6 |
2,128.4 |
|
Short-term borrowings |
848.1 |
709.7 |
702.9 |
702.2 |
583.5 |
|
Long-term borrowings, current |
51.5 |
46.9 |
41.7 |
- |
- |
|
Lease Liabilities |
0.4 |
0.1 |
0.0 |
0.0 |
- |
|
Income taxes payable |
15.7 |
14.9 |
27.6 |
55.4 |
42.5 |
|
Deferred tax liabilities (current) |
0.1 |
0.0 |
0.2 |
0.0 |
0.1 |
|
Advance received |
- |
- |
- |
- |
236.2 |
|
Reserve for bonuses |
14.7 |
13.5 |
15.0 |
14.9 |
10.2 |
|
Provision for loss on disaster |
4.9 |
0.0 |
- |
- |
- |
|
Asset retirement obligations |
0.4 |
0.0 |
- |
- |
- |
|
Reserve for directors' bonuses |
- |
- |
0.0 |
0.7 |
0.6 |
|
Reserve for related business loss |
- |
- |
- |
0.0 |
0.7 |
|
Other current liabilities |
123.6 |
76.9 |
155.1 |
138.4 |
47.0 |
|
Total Current Liabilities |
3,119.9 |
2,675.1 |
2,987.0 |
3,340.4 |
3,049.1 |
|
|
|
|
|
|
|
|
Long-term borrowings |
179.9 |
155.0 |
153.3 |
140.2 |
130.4 |
|
LT Lease Liabilities |
1.1 |
0.4 |
0.1 |
0.0 |
- |
|
Total Long Term Debt |
180.9 |
155.4 |
153.3 |
140.2 |
130.4 |
|
|
|
|
|
|
|
|
Deferred tax liabilities (non-current) |
12.5 |
6.6 |
6.5 |
10.3 |
24.4 |
|
Reserve for directors'retirement benefit |
4.0 |
3.2 |
3.7 |
5.2 |
0.0 |
|
Provision for loss on liquidation of sub |
0.5 |
0.0 |
- |
- |
- |
|
Asset retirement obligations |
1.3 |
0.0 |
- |
- |
- |
|
Reserve for accrued retirement benefit |
31.5 |
26.1 |
24.1 |
25.3 |
22.9 |
|
Guarantee Deposit Loss Reserves |
- |
- |
- |
0.0 |
1.3 |
|
Negative Godwill |
1.3 |
2.3 |
3.2 |
4.4 |
2.0 |
|
Other LT liabilities |
14.4 |
14.1 |
13.9 |
12.8 |
15.3 |
|
Minority interests |
31.9 |
19.0 |
19.9 |
20.5 |
13.5 |
|
Total Liabilities |
3,398.2 |
2,901.9 |
3,211.5 |
3,559.1 |
3,259.0 |
|
|
|
|
|
|
|
|
Common Stock |
148.8 |
132.0 |
124.9 |
123.9 |
104.5 |
|
Paid-in Capital |
85.5 |
75.8 |
71.7 |
71.2 |
60.0 |
|
Retained surplus |
477.0 |
368.6 |
309.9 |
267.3 |
148.2 |
|
Treasury Stock |
-2.5 |
-2.0 |
-1.9 |
-1.8 |
-1.2 |
|
Reserve by val. of investment sec. |
10.6 |
9.5 |
6.0 |
21.3 |
47.8 |
|
Deferred hedge gain/loss |
-1.7 |
-1.3 |
-0.5 |
-8.3 |
0.9 |
|
Reserve by valuation of land |
0.0 |
0.8 |
0.8 |
0.8 |
0.6 |
|
Cumulative translation adjustments |
-33.0 |
-17.4 |
-20.1 |
5.5 |
4.6 |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Total Equity |
684.7 |
566.0 |
490.7 |
480.1 |
365.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
4,082.9 |
3,468.0 |
3,702.2 |
4,039.1 |
3,624.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
163.9 |
164.0 |
164.0 |
164.0 |
164.1 |
|
Total Common Shares Outstanding |
163.9 |
164.0 |
164.0 |
164.0 |
164.1 |
|
T/S-Common Stock |
0.7 |
0.6 |
0.5 |
0.5 |
0.4 |
|
Advance received |
- |
- |
- |
0.0 |
236.2 |
|
Full-Time Employees |
4,835 |
4,694 |
4,618 |
4,473 |
4,272 |
|
Number of Common Shareholders |
8,721 |
9,025 |
9,286 |
9,367 |
10,391 |
|
LT Debts Maturing within 1yr. |
52.8 |
46.9 |
41.7 |
57.0 |
57.3 |
|
LT Debts Maturing within 2yr. |
70.6 |
39.5 |
40.5 |
35.8 |
46.5 |
|
LT Debts Maturing within 3yr. |
41.1 |
55.9 |
33.1 |
34.0 |
28.7 |
|
LT Debts Maturing within 4yr. |
44.0 |
39.4 |
46.8 |
27.0 |
25.6 |
|
LT Debts Maturing within 5yr. |
24.1 |
19.7 |
32.4 |
41.4 |
17.7 |
|
Remaining |
0.0 |
0.4 |
0.6 |
2.0 |
12.0 |
|
Total Long Term Debt, Supplemental |
232.7 |
201.8 |
194.9 |
197.3 |
187.7 |
|
Capital Leases Maturing within 1 Year |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Leases Maturing within 2 Years |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Leases Maturing within 3 Years |
0.4 |
0.1 |
0.0 |
- |
- |
|
Capital Leases Maturing within 4 Years |
0.2 |
0.1 |
0.0 |
- |
- |
|
Capital Leases Maturing within 5 Years |
0.0 |
0.0 |
- |
- |
- |
|
Capital Leases - Remaining Maturities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Capital Leases |
1.5 |
0.5 |
0.1 |
- |
- |
|
Pension Obligation |
120.7 |
102.6 |
98.2 |
100.3 |
84.9 |
|
Fair Value of Plan Assets |
75.7 |
64.5 |
54.1 |
69.4 |
66.1 |
|
Funded Status |
-45.0 |
-38.1 |
-44.2 |
-31.0 |
-18.8 |
|
Total Funded Status |
-45.0 |
-38.1 |
-44.2 |
-31.0 |
-18.8 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Unrecognized Prior Service Cost |
-1.9 |
-2.1 |
-2.4 |
-2.8 |
-2.6 |
|
Unrecognized Actuarial Gains and Losses |
15.6 |
14.3 |
22.5 |
8.4 |
-1.4 |
|
Prepaid Pension Benefits |
0.2 |
0.2 |
0.0 |
- |
- |
|
Reserve for Accrued Retirement Benefits |
-31.5 |
-26.1 |
-24.1 |
-25.3 |
-22.9 |
|
Net Assets Recognized on Balance Sheet |
-17.5 |
-13.8 |
-3.9 |
-19.7 |
-26.9 |
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 & deposits |
116.2 |
117.6 |
119.0 |
148.4 |
106.9 |
|
Accounts & notes receivable, gross |
2,565.9 |
2,511.1 |
2,737.6 |
2,450.5 |
2,312.7 |
|
Merchandise & Finished goods |
- |
517.8 |
512.5 |
511.3 |
400.6 |
|
Inventories-Work-in-progress |
- |
11.0 |
15.3 |
17.6 |
9.0 |
|
Raw materials & Supplies |
- |
88.3 |
82.1 |
73.5 |
62.8 |
|
Inventory |
705.9 |
- |
- |
- |
- |
|
Current assets other |
111.8 |
125.5 |
139.6 |
133.6 |
143.6 |
|
Allowance for doubtful accounts |
-25.3 |
-26.1 |
-34.0 |
-28.7 |
-28.8 |
|
Total Current Assets |
3,474.5 |
3,345.2 |
3,572.1 |
3,306.2 |
3,006.9 |
|
|
|
|
|
|
|
|
Total prop., plants, & equip., net |
398.8 |
- |
- |
- |
- |
|
Total PPE, gross |
- |
653.2 |
666.4 |
643.1 |
556.0 |
|
Total Depreciation |
- |
-269.9 |
-276.0 |
-266.6 |
-235.7 |
|
Goodwill |
9.4 |
7.6 |
9.4 |
10.0 |
8.7 |
|
Other intangible assets |
8.9 |
6.9 |
6.3 |
7.4 |
6.3 |
|
Other assets |
396.3 |
379.6 |
393.8 |
388.0 |
374.6 |
|
Allowance for doubtful accounts |
-39.2 |
-39.6 |
-43.5 |
-47.8 |
-37.8 |
|
Adjustment |
-0.1 |
- |
0.0 |
- |
- |
|
Total Assets |
4,248.7 |
4,082.9 |
4,328.5 |
4,040.3 |
3,678.9 |
|
|
|
|
|
|
|
|
Trade accounts & notes payable |
2,081.5 |
2,060.5 |
2,295.4 |
2,088.5 |
1,862.1 |
|
Short-term borrowings |
1,004.4 |
848.1 |
941.7 |
873.6 |
798.4 |
|
Long-term borrowings, current |
- |
51.5 |
- |
- |
- |
|
Lease Liabilities |
- |
0.4 |
- |
- |
- |
|
Income taxes payable |
14.2 |
15.7 |
5.7 |
17.7 |
9.8 |
|
Asset retirement obligations |
- |
0.4 |
0.5 |
1.2 |
1.1 |
|
Reserve for bonuses |
6.0 |
14.7 |
4.2 |
15.2 |
5.7 |
|
Provision for loss on disaster |
4.8 |
- |
- |
- |
- |
|
Asset retirement obligations |
0.5 |
- |
- |
- |
- |
|
Other |
134.1 |
128.5 |
146.8 |
145.5 |
150.5 |
|
Total Current Liabilities |
3,245.5 |
3,119.9 |
3,394.3 |
3,141.7 |
2,827.5 |
|
|
|
|
|
|
|
|
Long-term borrowings |
190.5 |
179.9 |
163.0 |
162.1 |
165.4 |
|
LT Lease liabilities |
- |
1.1 |
- |
- |
- |
|
Total Long Term Debt |
190.5 |
180.9 |
163.0 |
162.1 |
165.4 |
|
|
|
|
|
|
|
|
Reserve for accrued retirement benefit |
31.9 |
31.5 |
32.9 |
32.9 |
27.0 |
|
Provision for loss on liquidation of sub |
0.5 |
0.5 |
1.5 |
1.0 |
- |
|
Reserve-officers' retirement |
3.9 |
4.0 |
4.1 |
3.8 |
3.2 |
|
Negative Goodwill |
- |
0.0 |
0.0 |
1.9 |
2.1 |
|
Asset retirement obligations |
1.3 |
1.3 |
1.3 |
1.3 |
1.2 |
|
Other LT liabilities |
28.5 |
28.2 |
31.2 |
28.4 |
23.0 |
|
Minority interests |
31.2 |
31.9 |
29.9 |
29.9 |
20.6 |
|
Total Liabilities |
3,533.4 |
3,398.2 |
3,658.4 |
3,403.0 |
3,070.0 |
|
|
|
|
|
|
|
|
Common Stock |
152.7 |
148.8 |
152.1 |
147.7 |
139.4 |
|
Capital surplus |
87.7 |
85.5 |
87.3 |
84.8 |
80.1 |
|
Retained earnings |
502.1 |
477.0 |
460.6 |
435.9 |
408.6 |
|
Treasury stocks |
-5.3 |
-2.5 |
-2.5 |
-2.2 |
-2.1 |
|
Reserve by val. of investment sec. |
10.1 |
10.6 |
9.6 |
6.5 |
5.6 |
|
Deferred hedge gain/loss |
-3.6 |
-1.7 |
-6.6 |
-8.3 |
-7.1 |
|
Reserve by valuation of land |
- |
0.0 |
0.0 |
0.0 |
0.9 |
|
Cumulative translation adjustments |
-28.4 |
-33.0 |
-30.3 |
-27.1 |
-16.3 |
|
Total Equity |
715.3 |
684.7 |
670.2 |
637.3 |
609.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
4,248.7 |
4,082.9 |
4,328.5 |
4,040.3 |
3,678.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
162.6 |
163.9 |
163.9 |
164.0 |
164.0 |
|
Total Common Shares Outstanding |
162.6 |
163.9 |
163.9 |
164.0 |
164.0 |
|
T/S-Common Stock |
1.9 |
0.7 |
0.7 |
0.6 |
0.6 |
|
Full-Time Employees |
- |
4,835 |
4,963 |
4,982 |
4,704 |
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 |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net income before taxes |
105.9 |
89.0 |
121.2 |
172.2 |
154.6 |
|
Depreciation |
25.9 |
20.4 |
17.7 |
15.5 |
15.0 |
|
Assets impairment losses |
3.2 |
4.6 |
2.2 |
0.5 |
1.1 |
|
Amortization of goodwill |
3.6 |
1.7 |
2.0 |
2.1 |
1.2 |
|
Amort. of negative goodwill |
0.0 |
-1.1 |
-1.2 |
-0.8 |
-0.3 |
|
Reserve for doubtful accounts |
-9.6 |
-3.6 |
-25.0 |
-14.7 |
-11.4 |
|
Reserve for bonuses |
-0.4 |
-2.5 |
-0.2 |
1.9 |
-0.3 |
|
Reserve for retirement benefits(accrued) |
-2.6 |
0.1 |
-1.5 |
-3.0 |
-2.0 |
|
Guarantee Deposit Loss Reserves |
- |
- |
0.0 |
-1.4 |
0.0 |
|
Reversal of int.& dividends rcvd. |
-7.0 |
-6.8 |
-10.2 |
-13.0 |
-12.9 |
|
Reversal of interest expenses |
16.8 |
18.0 |
29.9 |
35.5 |
32.5 |
|
Equity Gain/Loss |
-17.4 |
-4.0 |
-1.3 |
-3.6 |
-2.4 |
|
Loss on disaster |
6.8 |
0.0 |
- |
- |
- |
|
Loss on retirement of noncurrent assets |
3.1 |
0.0 |
- |
- |
- |
|
G on the sale of fixed assets |
- |
-1.1 |
0.0 |
-0.2 |
-4.2 |
|
L on the sale of fixed assets |
0.1 |
- |
0.5 |
0.0 |
0.8 |
|
L on valuation of LT inv't in secs. |
12.7 |
1.5 |
26.5 |
1.4 |
0.4 |
|
G/L on val. of inv't in closely-held |
4.2 |
2.5 |
5.6 |
0.7 |
- |
|
G on sale of LT inv't in secs. |
-1.1 |
-6.8 |
-3.2 |
-1.6 |
-0.8 |
|
L on sale of LT inv't in secs. |
- |
- |
0.0 |
3.7 |
1.1 |
|
G/L on sale of inv't in closely-held |
0.1 |
-0.1 |
-0.4 |
0.0 |
- |
|
Loss (gain) on step acquisitions |
-1.2 |
0.0 |
- |
- |
- |
|
Loss on adjustment for changes of accoun |
1.9 |
0.0 |
- |
- |
- |
|
Account receivable |
-9.1 |
141.4 |
387.2 |
93.9 |
-207.7 |
|
Inventory |
-87.7 |
215.7 |
-70.2 |
-33.7 |
13.5 |
|
Acts & notes payable |
-12.4 |
-360.5 |
-385.4 |
-90.6 |
110.9 |
|
Director Bonus Paid |
- |
- |
- |
0.0 |
-0.3 |
|
Other operating activities |
-4.1 |
76.7 |
35.9 |
-9.4 |
8.6 |
|
Int & div.received (cash basis) |
13.5 |
10.9 |
15.6 |
13.5 |
13.4 |
|
Interest paid (cash basis) |
-16.4 |
-18.2 |
-28.9 |
-35.2 |
-32.5 |
|
Income taxes paid |
-35.7 |
-52.8 |
-96.0 |
-66.2 |
-18.4 |
|
Newly Consolidated |
- |
- |
- |
0.0 |
1.6 |
|
Adjustment |
- |
0.0 |
- |
- |
- |
|
Cash from Operating Activities |
-6.7 |
124.8 |
20.7 |
67.5 |
61.4 |
|
|
|
|
|
|
|
|
Net change in time deposit |
-0.1 |
0.6 |
0.7 |
0.6 |
0.0 |
|
Capital Expenditure |
-43.5 |
-17.7 |
-29.1 |
-25.9 |
-30.0 |
|
Sale PP&E |
4.3 |
3.2 |
2.0 |
2.4 |
6.8 |
|
Purchase of intangible assets |
-2.9 |
-0.2 |
-0.3 |
-1.6 |
-3.4 |
|
Sale of intangible assets |
0.0 |
0.0 |
0.2 |
0.0 |
0.0 |
|
Purchase of LT inv't in sec. |
-28.3 |
-19.6 |
-11.4 |
-68.0 |
-4.8 |
|
Sale of LT inv't in sec. |
2.3 |
18.5 |
6.5 |
17.4 |
2.0 |
|
Purchase of subs.' securities inflow |
7.3 |
0.0 |
1.6 |
0.4 |
0.1 |
|
Purchase of subs.' securities outflow |
-10.7 |
-4.8 |
0.0 |
-7.1 |
-10.0 |
|
Sale of subsidiaries' securities inflow |
0.7 |
0.0 |
0.0 |
5.7 |
0.0 |
|
Sale of subsidiaries' securities |
0.0 |
-0.5 |
0.0 |
-0.8 |
-0.2 |
|
ST loans, net |
-6.1 |
-0.2 |
0.6 |
0.6 |
0.9 |
|
Purchase of investments in subsidiaries |
-0.4 |
0.0 |
0.0 |
- |
- |
|
LT Loan Made |
-17.6 |
-1.8 |
-1.1 |
-6.1 |
-1.5 |
|
LT Loan Collected |
14.8 |
0.2 |
1.8 |
0.8 |
0.2 |
|
Sale of trust rights |
- |
- |
- |
0.0 |
69.0 |
|
Other investment activities |
2.8 |
1.8 |
1.4 |
-3.8 |
4.8 |
|
Cash from Investing Activities |
-77.4 |
-20.4 |
-27.1 |
-85.5 |
34.0 |
|
|
|
|
|
|
|
|
Change in short-term debt, net |
97.9 |
-84.1 |
56.7 |
21.0 |
-114.4 |
|
Long-term debts issued |
48.4 |
38.3 |
55.3 |
39.0 |
31.7 |
|
Long-term debts repaid |
-66.5 |
-47.6 |
-56.6 |
-59.1 |
-77.6 |
|
Bond redemption |
- |
- |
- |
- |
0.0 |
|
Stocks issued |
- |
- |
- |
0.0 |
72.4 |
|
Dividend Paid |
-9.6 |
-8.8 |
-18.8 |
-15.7 |
-10.0 |
|
Proceed from minorities' payment |
0.0 |
0.1 |
0.0 |
1.1 |
0.9 |
|
Dividends paid to minority shareholders |
-0.3 |
-1.1 |
-0.7 |
-0.6 |
-0.8 |
|
Cash from financing activities |
-1.5 |
-0.1 |
-0.1 |
-0.3 |
-0.5 |
|
Cash from Financing Activities |
68.3 |
-103.3 |
35.8 |
-14.7 |
-98.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.5 |
0.5 |
-4.7 |
0.2 |
0.7 |
|
Net Change in Cash |
-19.4 |
1.5 |
24.7 |
-32.5 |
-2.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
132.7 |
119.1 |
83.9 |
106.2 |
106.2 |
|
Net Cash - Ending Balance |
113.3 |
120.7 |
108.6 |
73.7 |
103.8 |
|
Cash Interest Paid |
16.4 |
18.2 |
28.9 |
35.2 |
32.5 |
|
Cash Taxes Paid |
35.7 |
52.8 |
96.0 |
66.2 |
18.4 |
Interim
Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
12 Months |
9 Months |
6 Months |
3 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 |
86.812446 |
88.962162 |
92.080323 |
92.941082 |
|
|
|
|
|
|
|
|
Net income before taxes |
105.9 |
64.3 |
38.3 |
32.9 |
89.0 |
|
Depreciation |
25.9 |
17.6 |
11.2 |
5.2 |
20.4 |
|
Assets impairment losses |
3.2 |
1.6 |
1.5 |
- |
4.6 |
|
Amort. of goodwill |
3.6 |
2.9 |
2.0 |
0.7 |
1.7 |
|
Amort. of negative goodwill |
0.0 |
-0.9 |
-0.6 |
-0.3 |
-1.1 |
|
Reserve for doubtful accounts |
-9.6 |
0.3 |
1.4 |
-0.2 |
-3.6 |
|
Reserve for bonuses |
-0.4 |
-10.4 |
0.2 |
-8.3 |
-2.5 |
|
Reserve for retirement benefits(accrued) |
-2.6 |
-1.8 |
-0.9 |
-0.6 |
0.1 |
|
Reversal of int.& dividends rcvd. |
-7.0 |
-5.0 |
-3.4 |
-2.3 |
-6.8 |
|
Reversal of interest expenses |
16.8 |
12.7 |
8.2 |
3.9 |
18.0 |
|
Equity Gain/Loss |
-17.4 |
-12.2 |
-9.1 |
-6.7 |
-4.0 |
|
Loss on disaster |
6.8 |
- |
- |
- |
0.0 |
|
Loss on retirement of noncurrent assets |
3.1 |
- |
- |
- |
0.0 |
|
G on the sale of fixed assets |
- |
0.0 |
0.0 |
- |
-1.1 |
|
L on the sale of fixed assets |
0.1 |
- |
- |
- |
- |
|
L on valuation of LT inv't in secs. |
12.7 |
8.8 |
6.9 |
0.1 |
1.5 |
|
G/L on val. of inv't in closely-held |
4.2 |
3.2 |
0.7 |
- |
2.5 |
|
L on adj. for changes of acc. assets |
1.9 |
1.9 |
1.8 |
1.7 |
0.0 |
|
Loss (gain) on step acquisitions |
-1.2 |
-1.2 |
-1.1 |
- |
0.0 |
|
G on sale of LT inv't in secs. |
-1.1 |
-1.5 |
-0.5 |
0.0 |
-6.8 |
|
G/L on sale of inv't in closely-held |
0.1 |
0.0 |
- |
- |
-0.1 |
|
Account receivable |
-9.1 |
-167.7 |
33.3 |
22.1 |
141.4 |
|
Inventory |
-87.7 |
-65.9 |
-72.4 |
-4.3 |
215.7 |
|
Acts & notes payable |
-12.4 |
163.7 |
26.9 |
-53.7 |
-360.5 |
|
Other operating activities |
-4.1 |
3.6 |
-7.5 |
-8.2 |
76.7 |
|
Int & div.received (cash basis) |
13.5 |
11.4 |
7.7 |
5.3 |
10.9 |
|
Interest paid (cash basis) |
-16.4 |
-12.0 |
-8.0 |
-3.0 |
-18.2 |
|
Income taxes paid |
-35.7 |
-34.0 |
-13.3 |
-14.1 |
-52.8 |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
-6.7 |
-20.5 |
23.2 |
-29.5 |
124.8 |
|
|
|
|
|
|
|
|
Net change in time deposit |
-0.1 |
- |
- |
- |
0.6 |
|
Capital Expenditure |
-43.5 |
-33.8 |
-19.6 |
-11.0 |
-17.7 |
|
Sale PP&E |
4.3 |
2.7 |
2.5 |
0.4 |
3.2 |
|
Purchase of intangible assets |
-2.9 |
- |
- |
- |
-0.2 |
|
Sale of intangible assets |
0.0 |
- |
- |
- |
0.0 |
|
Purchase of LT inv't in sec. |
-28.3 |
-27.1 |
-24.3 |
-18.1 |
-19.6 |
|
Sale of LT inv't in sec. |
2.3 |
1.8 |
0.1 |
0.0 |
18.5 |
|
Purchase of subs.' securities inflow |
7.3 |
7.2 |
7.1 |
- |
0.0 |
|
Purchase of subs.' securities outflow |
-10.7 |
-10.6 |
-10.3 |
- |
-4.8 |
|
Sale of subsidiaries' secur. inflow |
0.7 |
0.7 |
0.7 |
- |
0.0 |
|
Sale of subsidiaries' securities outflow |
0.0 |
- |
- |
- |
-0.5 |
|
Purchase of investments in subsidiaries |
-0.4 |
- |
- |
- |
0.0 |
|
ST Debt, Net |
-6.1 |
-6.7 |
-1.4 |
0.2 |
-0.2 |
|
LT Loan Made |
-17.6 |
-15.2 |
-13.6 |
-8.6 |
-1.8 |
|
LT Loan Collected |
14.8 |
14.5 |
13.9 |
0.0 |
0.2 |
|
Other investment activities |
2.8 |
0.0 |
-1.8 |
0.7 |
1.8 |
|
Cash from Investing Activities |
-77.4 |
-66.4 |
-46.7 |
-36.4 |
-20.4 |
|
|
|
|
|
|
|
|
Change in short-term debt, net |
97.9 |
115.1 |
74.5 |
48.1 |
-84.1 |
|
Long-term debts issued |
48.4 |
15.6 |
3.9 |
4.2 |
38.3 |
|
Long-term debts repaid |
-66.5 |
-51.2 |
-37.5 |
-3.4 |
-47.6 |
|
Proceed from minorities' payment |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Cash dividends paid |
-9.6 |
-9.4 |
-4.6 |
-3.9 |
-8.8 |
|
Dividends paid to minority shareholders |
-0.3 |
-0.3 |
-0.2 |
-0.2 |
-1.1 |
|
Others financing activities |
-1.5 |
-0.8 |
-0.7 |
0.0 |
-0.1 |
|
Cash from Financing Activities |
68.3 |
69.0 |
35.4 |
44.6 |
-103.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.5 |
-2.8 |
-1.4 |
0.4 |
0.5 |
|
Net Change in Cash |
-19.4 |
-20.7 |
10.5 |
-20.9 |
1.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
132.7 |
131.0 |
127.8 |
123.5 |
119.1 |
|
Net Cash - Ending Balance |
113.3 |
110.2 |
138.3 |
102.6 |
120.7 |
|
Cash Interest Paid |
16.4 |
12.0 |
8.0 |
3.0 |
18.2 |
|
Cash Taxes Paid |
35.7 |
34.0 |
13.3 |
14.1 |
52.8 |
Business
Segments
Financials in: As Reported (mil)
|
Annual |
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Business
Segments
Financials in: As Reported (mil)
|
Interim |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.94 |
|
UK Pound |
1 |
Rs.74.28 |
|
Euro |
1 |
Rs.64.97 |
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.