MIRA INFORM REPORT
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Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
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Name : |
DAIKIN INDUSTRIES, LTD. |
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Registered Office : |
Umeda Center Bldg. 2-4-12, Nakazaki-Nishi,
Kita-ku, Osaka-shi, 530-8323 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
14.02.1934 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
The Air Conditioning and Freezer segment manufactures and
sells housing equipment |
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
Daikin Industries, Ltd.
Umeda Center Bldg.
2-4-12, Nakazaki-Nishi
Kita-ku,
Osaka-shi, 530-8323
Japan
Tel: 81-6-63734348
Fax: 81
(6) 6373-4380
Synthesis
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Employees: |
41,569 |
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Company Type: |
Public Parent |
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Corporate
Family: |
94 Companies |
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Traded: |
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Incorporation
Date: |
14-Feb-1934 |
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Auditor: |
Deloitte &
Touche LLP |
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Fiscal Year End: |
31-Mar-2011 |
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Reporting Currency: |
Japanese Yen |
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Annual Sales: |
13,540.8 1 |
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Net Income: |
231.9 |
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Total Assets: |
13,664.3 2 |
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Market Value: |
8,968.7 |
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(02-Sep-2011) |
Business Description
DAIKIN INDUSTRIES, LTD. is a manufacturing company has three business segments. The Air Conditioning and Freezer segment manufactures and sells housing equipment, such as air conditioning, air purifiers and water boilers; commercial equipment, including package/spot air conditioning, water chilling units and turbo refrigerators; marine equipment, such as marine container air conditioning and ship freezers. The Chemical segment supplies fluorocarbon gases, fluorine resins, chemical products and chemical engineering machines. The Others segment manufactures and sells hydraulic equipment and machinery for industrial and construction machinery use, database systems for research development and information technology (IT) network monitoring systems, among others. For the three months ended 30 June 2011, Daikin Industries Ltd.'s revenues increased 14% to Y297.73B. The Company's net income increased 88% to Y12.46B. Revenues reflect higher sales from air-conditioning and chemicals business segments. Net income benefited from lower percentage of selling, general and administrative expense, increased equity gains, as well as decreased exchange losses.
Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
2452 - Fixed Space Heating, Cooling and Ventilation Equipment
Manufacturing |
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NACE 2002: |
2923 - Manufacture of non-domestic cooling and ventilation equipment |
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NAICS 2002: |
333415 - Air-Conditioning and Warm Air Heating Equipment and
Commercial and Industrial Refrigeration Equipment Manufacturing |
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UK SIC 2003: |
2923 - Manufacture of non-domestic cooling and ventilation equipment |
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US SIC 1987: |
3585 - Air-Conditioning and Warm Air Heating Equipment and Commercial
and Industrial Refrigeration Equipment |
Key Executives
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Name |
Title |
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Noriyuki Inoue |
Chairman of the Board, Chief Executive Officer, Representative
Director |
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Masanori Togawa |
President, Chief Operating Officer, Representative Director |
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Koichi Takahashi |
Executive Officer, Director of Accounting & Finance, Director |
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Toshitaka Tsubouchi |
Executive Officer, Chief Director of Air-conditioning Sales |
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Guntaro Kawamura |
Executive Vice President, Manager of Yodogawa Manufacturing Center,
Director |
Significant
Developments
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Topic |
#* |
Most Recent
Headline |
Date |
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Mergers / Acquisitions |
3 |
Daikin Industries, Ltd.'s Subsidiary to Acquire AIRFEL A.S. |
8-Jul-2011 |
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Restructuring / Reorganization |
1 |
Daikin Industries, Ltd. Announces Business Restructuring |
28-Feb-2011 |
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Officer Changes |
1 |
Daikin Industries, Ltd. Announces Officer Changes |
19-Apr-2011 |
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Strategic Combinations |
1 |
Nippon Valqua Industries, Ltd. to Form Business Alliance with Daikin
Industries, Ltd. |
28-Sep-2010 |
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Expansion / New Markets / New Units |
1 |
Daikin Industries, Ltd. To Sell Home Air-Conditioners In India-Reuters |
7-Oct-2010 |
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* number of significant developments within the last 12 months |
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News
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Title |
Date |
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Research
and Markets: Polytetrafluoroethylene (PTFE) - Global Strategic Business
Report with Key Profiles of Major Players |
13-Sep-2011 |
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WIPO
ASSIGNS PATENT TO DAIKIN INDUSTRIES, OSAKA UNIVERSITY FOR "METHOD FOR
PRODUCING SUBSTITUTED FLUORINE-CONTAINING OLEFIN" (JAPANESE INVENTORS) |
13-Sep-2011 |
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Australia:
Daikin Industries Receives Patent for 'Flareless pipe coupling structure,
flareless pipe coupling method, and on-site pipe coupling method' |
12-Sep-2011 |
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Daikin
Industries Assigned Patent |
10-Sep-2011 |
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Gree Makes
Top 100 Issues On Market Capitalization |
9-Sep-2011 |
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Financial
Summary |
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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 82.88s
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Overview
Daikin Industries Ltd. (Daikin) engages in the manufacture of air
conditioners, chemicals, refrigeration systems, semiconductors, oil hydraulics,
electronics, and defense systems. The company is a global leader in the air
conditioning systems market. It is geographically well diversified to minimize
its business risk as well as cater to the growing demand in emerging markets
and grow as a leading global player. However, declining top line growth coupled
and decelerating profitability are few areas of concern to the company that
affects its growth. Nonetheless, the growing demand for HVAC equipment globally
could promote the company’s business. Focusing on Asian markets would enable
the company to reap higher benefits. With rising raw material prices in the
volatile macro environment, the companies operating in air conditioning
industry are forced to increase their product price, which is not a positive
sign amidst the growing competition in global markets.
Strengths
Daikin enjoys a global presence through its sales network and
subsidiaries. It is one of the leading manufacturers of air-conditioning
systems and fluorochemical products globally. The company has significant
global affiliations with companies such as Matsushita Electric Industrial of
Japan and Trane Company, a top air conditioning manufacturer in the US.
Currently, the company operates in eight regional markets worldwide, namely,
Japan, Europe, North America, South and Central America, Asia and Oceania,
China, the Middle and Near East and Africa, and India. The company operates
through 198 consolidated subsidiaries located in Europe, Thailand, Middle East,
Africa, Russia, China, Philippines, Greece, Hong Kong, Singapore, North
America, Canada, Japan and Australia. The company classifies its geographical
locations into five regions, namely Japan, Asia-Oceania, Europe, Americas and
Rest of the world. Japan, the company's largest geographical market, accounted
for 39.96% of its total revenues for the fiscal year ended 2010, followed by
Asia and Oceania, 25.42%; Europe, 23.5%; America, 9.57%; and others countries,
1.55%. With a strong network of subsidiaries and locations, Daikin is able to
effectively serve its clients in various geographical markets that contribute
for its growth as a global leader.
Daikin by virtue of its technological expertise, Daikin is able to cater
to a wider customer base keeping in purview the various geographical locations
and the business environment in which it operates. Like in Japan where
considerable attention is given to energy conservation and the tech-savy nature
of the consumer demands with optimal humidity levels and comfortable
temperatures, the company launched URURU & SALALA (R-series) room
air-conditioning systems that conform to 2010 energy conservation standards
with features like humidifying and dehumidifying capabilities. The product
features an extremely quiet automatic filter cleaning function and has 12
settings to suit the season and the user‘s lifestyle needs. In Asia and Oceania
region where more emphasis is generally given to the durability and
affordability of air conditioning products and with increasing CO2 emission
restrictions, the company definitely has an edge over its competitors by virtue
of its ductless air conditioning products characterized by outstanding energy
efficiency and low noise levels has already taken a pole position. In India,
Daikin was the first company to introduce the Variable Refrigerant Volume (VRV)
Air conditioning system. In the European markets, which are known for strict
regulations by global standards such as the Restriction of the Use of Certain
Hazardous Substances under (RoHS) directive, the company’s initiative to reduce
CO2 emissions by promoting a shift away from fuel burning heating and hot water
systems towards a high-efficiency heat pump and hot water systems has been
accepted. In the areas where gas boilers and similar fuel-burning systems being
prevalent in Europe, the company’s Altherma heat pump systems with reduced
emissions by almost 50% can have a huge impact in the prevention of global
warming. In addition, the company offers value-added products such as Clean
ZEAS-Q, featuring automatic filter cleaning and Flash Streamer ZEAS-Q that
inhibits and removes harmful microbes and pollen using its proprietary Streamer
technology. These products are expected to contribute to additional sales
growth and market expansion.
A strong position in its existing and emerging businesses helped Daikin
achieve profitable growth, stellar performance and successful expansion of its
portfolio. In the market for commercial and industrial use air conditioning
systems, Daikin is a global leader with more than 40% of the market share in
Japan. It also has a strong foothold in China, Southeast Asia, Europe, and
North America. In Japan, the company remains a leader in the domestic air
conditioning market through its commercial as well as residential offerings.
The company is also a market leader in the fluorochemicals industry with an
approximate 20% share of the global market. The strong market position across
various industries enhances the company’s brand image, thus providing multiple
growth opportunities.
Weaknesses
Deteriorating
Profitability Ratios
Deteriorating profitability ratios indicate that the company has been
underperforming and is not in a position to deliver value as expected by its
shareholders. Daikin witnessed a decline across its various profitability
indicators for the fiscal year ended 2010. The company’s operating margin
decreased to 3.94% in 2010 from 4.74% in 2009 and 9.71% in 2008. The increase
in operating margin is primarily due to the operating costs, which increased to
96.05% in 2010 from 95.25% in 2009. In addition, the company’s was operating
margin was below the Building & Construction Materials sector average* of
9.37%. A lower than sector average* operating margin may indicate inefficient
cost management or a weak pricing strategy by the company. The operating margin
has decreased 81 bps over 2009 which may indicate management's low focus on
profitability. The company’s return on equity declined to 3.9% in 2010 from
4.6% in 2009. This was below the Building & Construction Materials sector
average* of 9.9%. A lower than sector average* ROE may indicate that the
company may not be using the shareholders' money as efficiently as other companies
in the sector and that it is generating low returns for its shareholders
compared to other companies in the sector. Besides, the company’s return on
capital employed was 4.935% in 2010 as against 8.291% in 2009 and 15.72% in
2008; return on assets was 1.70% in 2010 as against 1.94% in 2009 and 6.81% in
2008.
Decelerating top line growth would impact the company’s market share and
affect its leading market position. Daikin has been recording decline in its
revenues over the past three years. For the fiscal year ended 2010, the
company’s reported revenue of JPY 1,023,964m, representing a decline of 14.85%
over JPY 1,202,419 million in 2009. The company’s revenue in 2009 and 2008 was
JPY 1,202,419m and JPY 1,291,081m, respectively. The company reported a decline
in its sales in 2010 due to certain businesses that have not performed fairly.
The sales of Air-Conditioning and Refrigeration Equipment segment decreased by
14.2% to JPY 908,564m; Chemical segment sales decreased by 15.4% to JPY 86,223m
and Defense business sales decreased by 29.0% to JPY 29,175m due to decrease in
orders received to provide Japan's Ministry of Defense with ammunitions and
warheads for guided missiles. Additionally, the company's compound annual
growth rate (CAGR) for revenue was 6.6% during 2006-2010. The company's
compound annual growth rate (CAGR) for revenue was 6.6% during 2006-2010. This
was below the Building & Construction Materials sector average* of 19.16%.
A lower than sector average* revenue CAGR may indicate that the company has
underperformed the average sector growth and lost market share over the last
four years. The company's underperformance could be attributed to a weak
competitive position or inferior products and services offering or lack of innovative
products and services.
Opportunities
Leveraging its product portfolio, Daikin could cater to the growing
demand for efficient heating equipment in the European housing market. The
European housing market has been witnessing significant change in the rate of
energy consumption. For instance, Germany, during the past 20 years, made
significant efforts to improve the energy efficiency of buildings, including
residential buildings. According to German Energy Agency, the average
residential building stock uses about 220kWh/m2 per year in heating energy,
while buildings built to current standards use 110-150kWh/m2 per year and low
energy houses consume 40-70kWh/m2 per year. At the same time, the increasing
energy prices will further need to make buildings more energy efficient. The
company could exploit this necessity as it has potential to induce efficiencies
with its product line.
Selling
Home Air-Conditioners In India
Demographics and hot and humid conditions in India would offer
substantial demand for the company’s freezing and low temperature products.
According to a recent survey, the increase in Indian middle class population is
expected to be from 22% to 32% in 2010 and the urban population is projected to
increase from 28% to 40% of total population by 2020. On the retail Front,
organized retail is expected to grow 400% from $7 billion to more than $30
billion by 2010. Despite the global economic slowdown, growth in India has been
resilient. This was mainly due to a massive fiscal stimulus package in India's
skillful macroeconomic management. The growing economy in these countries has
generated new employment opportunities for the residents and has boosted their
earnings. This rise in disposable income has changed their buying behavior.
Daikin in India operates through Daikin Airconditioning India Private Limited.
In 2010, Daikin announced to begin selling home air-conditioners in India. It
is currently developing strategies to tap demand from India's growing middle
class. The company aims to boost its total air-conditioner sales to more than
$362m by the end of fiscal year 2011. Leveraging its product portfolio, the
fast paced growth in the India coupled with its requirement would boost the
company’s sales.
Rising
Demand for HVAC Equipment
Global growth has been beneficial to the HVAC equipment industry. Even
in the presence of regulatory measures such as the prohibition of CFCs in most
countries and the rise of minimum efficiency requirement, findings still show
that demand will increase to 5% every year onward as more and more facilities
worldwide use HVAC systems. In the U.S. alone, it is expected that sales will
reach up to $14.3 billion in 2009 due to nonresidential construction and
residential remodeling. The most popular HVAC equipment used in homes and
commercial and industrial buildings are heat pumps, chillers, and unitary and
packaged terminal air conditioners. Daikin, being one of the world’s leading
manufacturer of air-conditioning systems and fluorochemical products is well
positioned to tap this opportunity.
Daikin is currently working towards the goals of FUSION 10, a strategic
management plan covering the five-year period through fiscal 2011. The company
started and began implementing FUSION 10 plan in 2007 that aims to proactively
move Daikin toward becoming a truly excellent global company and maximizing its
corporate value with the goal of building on all its accomplishments to date to
achieve major breakthroughs in performance. In May 2008, the company released
the second-half plan for the strategic management plan FUSION 10. Under FUSION
10, the company plans to enhance corporate value through implementing priority
strategies, and performance through innovation. The strategic plan calls for
attaining prominent global position as a comprehensive air-conditioning and
refrigeration manufacturer; leader of creative changes and making use of
exclusive technologies to undertake innovation and the create value, and
building a profit structure and financial position that are resilient. This
strategic plan would provide the company an opportunity to become a leader in
the field it operates.
Threats
Daikin operates globally and the prevailing global economic conditions
could limit it in generating substantial revenue with ease in the near future.
Financial markets worldwide have been facing adverse conditions since 2007. The
global economic slowdown, which began in 2008, spread to all corners of the
world. According to the World Bank, the global GDP contracted an estimated 2.2%
in 2009. During 2009, developing economies presented a mixed bag, with
economies in Eastern Europe and Central Asia contracting 6.2%, which was duly
negated by the resilience shown by economies in East Asia and Pacific region,
particularly China – growing an estimated 6.8%, and India, stable at 5.7%.
However, the global output is expected to expand 2.7% in 2010, and 3.2% in
2011, still far below 5% in 2007. The current uncertainties in economic
conditions could influence international capital market and make it difficult
for the company to plan budgets and forecasting. The economic slowdown could
negatively impact the flow of the company’s capital expenditure and limit its
growth prospects.
Daikin operates in various markets, which experience rapid and
significant changes due to the introduction of innovative technologies. The
company must continuously design new, and update existing products and services
and invest in and develop new technologies in order to meet needs and
requirements of the market. Since its inception, Daikin has introduced several
breakthrough products and is currently developing various technologies. But the
company has to revise these technologies with time, which requires a
significant commitment to research and development, which in return requires
considerable financial resources. Upon investing in these new technologies, the
company’s sales and profits could suffer if they are not accepted in the
marketplace as anticipated.
Growing
Market for Substitute Products
With rising raw material prices, companies operating in air conditioning
industry are forced to increase their product price. This has led to increase
in demand for new products such as the large airflow fans and endurance fan
series, compact and high-performance servo motors and stepping motors, and
control devices for these products. The new products have already created a
niche and are well received in the markets like Hong Kong, Taiwan, Singapore,
South Korea and Germany. These geographical locations are of strategic
importance to the company. Any further continuation of this trend will
adversely impact the company performance in the long run.
Stringent
Environmental Regulations
Daikin could be affected by the environmental regulations governing the
global chemical industry. REACH (Registration Evaluation and Authorization of
Chemicals) is an example of the stringent environmental regulations that are
set to affect chemical producers. REACH regulates the products manufactured and
marketed in Europe. Phased over a period of 11 years, the regulation mandates
all companies to develop and submit dossiers containing datasets about their
chemical products and detail their potential impact and risk on environment.
This will prove to be a challenge while launching new products as it is a
time-consuming and expensive process. It may also result in phasing out many
existing chemicals from the market, which may be regarded as toxic and hazardous.
REACH directly applies to over 30,000 different chemical substances that are
produced or sold in Europe and its implementation is expected to cost European
chemical industry about USD 3 billion. Other countries too are expected to
model their regulations after REACH. The US has already started implementing
similar regulations with the reform of Toxic Substances Control Act. China has
its own version of RoHS (Restriction of Hazardous Substances), which restricts
the use of certain chemicals in the market. Such stringent environmental
regulations are set to get tightened in the near future, affecting both
existing and new products of the company.
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Corporate Family |
Corporate Structure
News: |
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Daikin Industries, Ltd.
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|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Osaka-shi |
Japan |
Miscellaneous Capital Goods |
13,540.8 |
41,569 |
|
|
Subsidiary |
Oostende |
Belgium |
Miscellaneous Capital Goods |
1,775.9 |
1,414 |
|
|
Subsidiary |
San Donato Milanese, MI |
Italy |
Miscellaneous Capital Goods |
439.7 |
800 |
|
|
Subsidiary |
Nanterre |
France |
Miscellaneous Capital Goods |
517.7 |
374 |
|
|
Subsidiary |
Madrid |
Spain |
Miscellaneous Capital Goods |
238.5 |
264 |
|
|
Subsidiary |
Unterhaching, Bayern |
Germany |
Appliance and Tool |
136.4 |
135 |
|
|
Subsidiary |
Oostende |
Belgium |
Miscellaneous Capital Goods |
65.4 |
82 |
|
|
Subsidiary |
Wommelgem |
Belgium |
Furniture and Fixtures |
24.2 |
76 |
|
|
Subsidiary |
Wavre |
Belgium |
Miscellaneous Capital Goods |
65.4 |
75 |
|
|
Subsidiary |
Brunn am Gebirge, Niederösterreich |
Austria |
Miscellaneous Capital Goods |
116.9 |
50 |
|
|
Subsidiary |
Oostende |
Belgium |
Personal Services |
5.9 |
20 |
|
|
Subsidiary |
Ittre |
Belgium |
Rental and Leasing |
0.0 |
|
|
|
Subsidiary |
Plzen |
Czech Republic |
Miscellaneous Capital Goods |
325.3 |
754 |
|
|
Subsidiary |
Chipping Norton, NSW |
Australia |
Miscellaneous Capital Goods |
408.6 |
425 |
|
|
Subsidiary |
Osaka-shi, Osaka |
Japan |
Appliance and Tool |
|
370 |
|
|
Subsidiary |
Shinjuku-ku, Tokyo |
Japan |
Appliance and Tool |
|
271 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
171.0 |
228 |
|
|
Subsidiary |
Chonburi |
Thailand |
Miscellaneous Capital Goods |
754.8 |
200 |
|
|
Subsidiary |
Gurgaon |
India |
Miscellaneous Capital Goods |
1.0 |
100 |
|
|
Subsidiary |
Guragaon |
India |
Miscellaneous Capital Goods |
1.0 |
100 |
|
|
Subsidiary |
Bangkok |
Thailand |
Miscellaneous Capital Goods |
1.0 |
21 |
|
|
Subsidiary |
Shanghai |
China |
Chemical Manufacturing |
1.0 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
157.9 |
200 |
|
|
Subsidiary |
Quezon City |
Philippines |
Miscellaneous Capital Goods |
1.0 |
100 |
|
|
Subsidiary |
Muang Chon Buri, Chonburi |
Thailand |
Miscellaneous Capital Goods |
|
140 |
|
|
Subsidiary |
Century City |
South Africa |
Miscellaneous Capital Goods |
|
50 |
|
|
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Chemical Manufacturing |
101.9 |
40 |
|
|
Subsidiary |
New York, NY |
United States |
Miscellaneous Capital Goods |
1,291.9 |
20 |
|
|
Subsidiary |
Orangeburg, NY |
United States |
Chemical Manufacturing |
60.1 |
60 |
|
|
Branch |
Decatur, AL |
United States |
Chemical Manufacturing |
310.3 |
310 |
|
|
Branch |
Hanover, MA |
United States |
Chemicals - Plastics and Rubber |
24.4 |
40 |
|
|
Subsidiary |
Buenos Aires |
Argentina |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Carrollton, TX |
United States |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Petaling Jaya |
Malaysia |
Miscellaneous Capital Goods |
|
20 |
|
|
Subsidiary |
Bangkok, Bangkok |
Thailand |
Appliance and Tool |
|
20 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
1.0 |
17 |
|
|
Subsidiary |
Sungai Buloh |
Malaysia |
Miscellaneous Capital Goods |
1,750.0 |
|
|
|
Subsidiary |
Louisville, KY |
United States |
Miscellaneous Capital Goods |
805.7 |
200 |
|
|
Subsidiary |
Plymouth, MN |
United States |
Miscellaneous Capital Goods |
498.0 |
400 |
|
|
Branch |
Auburn, NY |
United States |
Construction - Supplies and Fixtures |
174.0 |
500 |
|
|
Branch |
Faribault, MN |
United States |
Construction - Supplies and Fixtures |
156.6 |
450 |
|
|
Branch |
Owatonna, MN |
United States |
Construction Services |
47.0 |
250 |
|
|
Subsidiary |
Ariccia, Roma (Rome) |
Italy |
Miscellaneous Capital Goods |
130.3 |
219 |
|
|
Branch |
Maple Grove, MN |
United States |
Construction Services |
4.7 |
25 |
|
|
Subsidiary |
Louisville, KY |
United States |
Miscellaneous Capital Goods |
125.0 |
100 |
|
|
Branch |
Columbia, MO |
United States |
Miscellaneous Capital Goods |
49.0 |
200 |
|
|
Branch |
Fayetteville, AR |
United States |
Miscellaneous Capital Goods |
25.2 |
100 |
|
|
Branch |
Hutchins, TX |
United States |
Miscellaneous Capital Goods |
19.9 |
100 |
|
|
Branch |
Elizabethtown, PA |
United States |
Retail (Specialty) |
17.6 |
90 |
|
|
Branch |
Lebanon, IN |
United States |
Construction Services |
12.6 |
67 |
|
|
Subsidiary |
Glasgow |
United Kingdom |
Commercial Banks |
0.0 |
|
|
|
Subsidiary |
Cramlington |
United Kingdom |
Business Services |
55.1 |
239 |
|
|
Subsidiary |
Doncaster |
United Kingdom |
Electronic Instruments and Controls |
4.7 |
35 |
|
|
Subsidiary |
Cramlington |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Cramlington |
United Kingdom |
Miscellaneous Fabricated Products |
92.2 |
222 |
|
|
Subsidiary |
Manchester |
United Kingdom |
Miscellaneous Fabricated Products |
31.5 |
120 |
|
|
Subsidiary |
Cramlington |
United Kingdom |
Miscellaneous Capital Goods |
5.7 |
29 |
|
|
Subsidiary |
Hong Kong |
Hong Kong |
Miscellaneous Capital Goods |
1.0 |
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Miscellaneous Capital Goods |
|
|
Executives Report
|
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Significant Developments
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Press clippings
Research and Markets:
Polytetrafluoroethylene (PTFE) - Global Strategic Business Report with Key
Profiles of Major Players
PressWIRE: 13 September 2011
[What follows is the full text of the news story.]
Dublin - Research and Markets (http://www.researchandmarkets.com/research/68f163/polytetrafluoroeth) has announced the addition of the "Polytetrafluoroethylene (PTFE) - Global Strategic Business Report" report to their offering.
This report analyzes the worldwide markets for Polytetrafluoroethylene (PTFE) in US$ Million by the following End-Use Industries: Transportation, Chemical Processing, Electrical & Electronics, and Others. The US market is separately analyzed by the following end-use applications: Coatings & Liners, Films, Mechanical Parts & Components, and Others.
The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World.
Annual estimates and forecasts are provided for the period 2009 through 2017. Also, a six-year historic analysis is provided for these markets.
The report profiles 34 companies including many key and niche players such as
- AGC Chemicals Americas, Inc. (USA)
- Compagnie De Saint-Gobain (USA)
- Saint-Gobain Performance Plastics Corporation (USA)
- Daikin Industries Ltd. (Japan)
- Daikin America, Inc. (USA)
- Dyneon LLC (USA)
- E. I. du Pont de Nemours and Company (USA)
- Solvay Solexis S.p.A (Italy)
Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.
Key Topics Covered:
1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
2. INDUSTRY OVERVIEW
3. PRODUCT OVERVIEW
4. PRODUCT DEVELOPMENTS/INNOVATIONS
5. RECENT INDUSTRY ACTIVITY
6. FOCUS ON SELECT MARKET PLAYERS
7. GLOBAL MARKET PERSPECTIVE
8. THE UNITED STATES
9. CANADA
10. JAPAN
11. EUROPE
12. ASIA-PACIFIC
13. REST OF WORLD
COMPETITIVE LANDSCAPE
Total Companies Profiled: 34 (including Divisions/Subsidiaries - 45)
Region/Country Players
- The United States - 12
- Japan - 3
- Europe - 15
- France - 3
- Germany - 3
- The United Kingdom - 2
- Italy - 2
- Rest of Europe - 5
- Asia-Pacific (Excluding Japan) - 15
For more information visit http://www.researchandmarkets.com/research/68f163/polytetrafluoroeth
CONTACT:
Research and Markets
Laura Wood, Senior Manager,
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com)).
Australian Government: 12 September 2011
[What follows is the full text of the news story.]
Australia, Sept. 12 -- Daikin Industries Ltd., Japan, has filed an application (2007232820) on March 30, 2007, for 'Flareless pipe coupling structure, flareless pipe coupling method, and on-site pipe coupling method.'
The patent is effective from March 30, 2007, till March 30, 2027.
Inventors: Takashi Shimamura and Haruo Nakata
Application Status: Sealed
Acceptance Date: April 27
Paid to Date: March 30, 2012
The original document can be viewed at: http://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2007232820
For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
Daikin Industries
Assigned Patent
U.S. Fed News: 10 September 2011
[What follows is the
full text of the news story.]
By US Fed News
ALEXANDRIA, Va., Sept. 10 -- Daikin Industries, Osaka, Japan, has been assigned a patent (8,013,182) developed by Yoshihiro Yamamoto, Settsu, Japan, and Tatsuya Ohtsuka, Settsu, Japan, for a "carboxylic acid ester, use of the same, and method for producing the same."
The abstract of the patent published by the U.S. Patent and Trademark Office states: "The present invention provides a process for producing a novel compound, i.e., .alpha.-chloromethoxycarboxylic acid ester represented by General Formula (1): (CF.sub.3).sub.2C(OCH.sub.2Cl)COOR, wherein R is a hydrocarbon group which may be substituted with at least one atom selected from the group consisting of halogen, oxygen, nitrogen, and sulfur atoms, comprising reacting an .alpha.-methoxycarboxylic acid ester represented by General Formula (2): (CF.sub.3).sub.2C(OCH.sub.3)COOR, wherein R is as defined above, with molecular chlorine; and a process for producing 1,1,1,3,3,3-hexafluoroisopropyl fluoromethyl ether represented by a chemical formula (CF.sub.3).sub.2CH(OCH.sub.2F), comprising fluorinating and decarboxylating the .alpha.-chloromethoxycarboxylic acid ester. According to the present invention, 1,1,1,3,3,3-hexafluoroisopropyl fluoromethyl ether (sevoflurane), which is known as a compound having an anesthetic property, can be produced efficiently and at a low cost."
The patent application was filed on Nov. 6, 2008 (12/734,606). The full-text of the patent can be found at http://patft.uspto.gov/netacgi/nph-
Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=8,013,182.PN.&OS=PN/8,013,182&RS=PN/8,013,182
Written by Arpi Sharma; edited by Jaya Anand.
AS0910JA0910-629943
Gree Makes Top 100
Issues On Market Capitalization
Nikkei English News: 09 September 2011
[What follows is the
full text of the news story.]
TOKYO (NQN)--Gree Inc. (3632) on Friday became one of the top 100 issues in
terms of market capitalization on the first section of the Tokyo Stock
Exchange.
Based on the stock's closing price, the social networking site operator's market capitalization reached 608.9 billion yen, up 10.3 billion yen from the previous day.
The figure was higher than the 603.8 billion yen of Olympus Corp. (7733), which ranked 100th the previous day. Gree's market capitalization was only 9.2 billion yen behind 99th-placed Daikin Industries Ltd. (6367), which is valued at 618.1 billion yen.
Gree is drawing funds because it is a domestic demand-led issue with growth potential. The stock rebounded Friday, ending up 45 yen, or 1.7%, at 2,650 yen.
If the company maintains its current market capitalization and the stock's trading volume, and if the stock is newly classified as a large-cap issue, some observers say Gree can be integrated into funds that manage only large-cap issues.
The TSE classifies the top 100 issues in terms of trading value and market capitalization as large-cap issues. It uses them to calculate the Topix 100 index.
Australia: Daikin Industries Receives
Patent for 'Air conditioner'
Australian Government: 08 September
2011
[What follows is the
full text of the news story.]
Australia, Sept. 8 -- Daikin Industries Ltd., Japan, has filed an application (2008310483) on Oct. 10, 2008, for 'Air conditioner.'
The patent is effective from Oct. 10, 2008, till Oct. 10, 2028.
Inventor(s): Tatsuya Makino and Takeshi Arai
Application Status: Accepted
Acceptance Date: Aug. 17
Paid to Date: Oct. 10, 2013
The original document can be viewed at:
http://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2008310483
For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
Australia: Daikin
Industries Receives Patent for 'Indoor unit of air conditioner Indoor unit of
air conditioner'
Australian Government: 06 September
2011
[What follows is the
full text of the news story.]
Australia, Sept. 6 -- Daikin Industries Ltd., Japan, has filed an application (2008336998) on Dec. 17, 2008, for 'Indoor unit of air conditioner.'
The patent is effective from Dec. 17, 2008, till Dec. 17, 2028.
Inventor(s): Morimichi Okada and Akihiko Sakashita
Application Status: Accepted
Acceptance Date: Aug. 17
Paid to Date: Dec. 17, 2013
The original document can be viewed at:
http://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2008336998
For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
Australia: Daikin
Industries Receives Patent for 'Humidity control apparatus'
Australian Government: 06 September 2011
[What follows is the
full text of the news story.]
Australia, Sept. 6 -- Daikin Industries Inc., Japan, has filed an application (2008332663) on Nov. 20, 2008, for 'Humidity control apparatus.'
The patent is effective from Nov. 20, 2008, till Nov. 20, 2028.
Inventor(s): Yasunobu Okumura and Tomohiro Yabu
Application Status: Accepted
Acceptance Date: Aug. 17
Paid to Date: Nov. 20, 2013
The original document can be viewed at:
http://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2008332663
For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
Australia: Daikin
Industries Receives Patent for 'Freezing apparatus'
Australian Government: 06 September
2011
[What follows is the
full text of the news story.]
Australia, Sept. 6 -- Daikin Industries Ltd., Japan, has filed an application (2008330551) on Nov. 28, 2008, for 'Freezing apparatus.'
The patent is effective from Nov. 28, 2008, till Nov. 28, 2028.
Inventor(s): Atsushi Yoshimi, Ryusuke Fujiyoshi, Yoshio Ueno, Shun Yoshioka, Toshiyuki Kurihara and Shuji Fujimoto
Application Status: Accepted
Acceptance Date: Aug. 15
Paid to Date: Nov. 28, 2013
The original document can be viewed at:
http://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2008330551
For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
Australia: Daikin Industries Receives
Patent for 'Group managing device and group managing program'
Australian Government: 06 September
2011
[What follows is the
full text of the news story.]
Australia, Sept. 6 -- Daikin Industries Ltd., Japan, has filed an application (2008246835) on April 2, 2008, for 'Group managing device and group managing program.'
The patent is effective from April 2, 2008, till April 2, 2028.
Inventor(s): Fumitaka Kimura, Yoshihiko Murakami, Toshihiro Kanbara and Takanori Ogura
Application Status: Accepted
Acceptance Date: July 1
Paid to Date: April 2, 2013
The original document can be viewed at:
http://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2008246835
For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
Daikin Industries Ltd Files Patent
Application for Energy Saving Support Device
Indian Patent News
05 September 2011
[What follows is the full text of the article.]
New Delhi, Sept. 5 -- Japan based Daikin Industries Ltd filed patent application for energy saving support device. The inventors are Atsushi Nishino and Satoshi Hashimoto.
Daikin Industries Ltd filed the patent application on April 21, 2011. The patent application number is 1671/KOLNP/2011 A. The international classification is F24F11/02.
According to the Controller General of Patents, Designs & Trade Marks, "To enable the manager of a building to grasp information regarding the consumed energies of air conditioners (for example, which air conditioner should have its consumed energy reduced). An energy saving support device is equipped with a communication unit, a total energy calculating unit, a low-COP power calculating unit, a room information generating unit, and a display unit. The communication unit acquires operating data regarding an air conditioner. The total energy calculating unit obtains, on the basis of the operating data, a total consumed energy of the air conditioner. The low- COP power calculating unit obtains, on the basis of the operating data, a low-COP consumed energy that is an energy that the air conditioner consumed at a time when it was operating at a COP equal to or less than a predetermined value. The room information generating unit generates, on the basis of the total consumed energy and the low-COP consumed energy, room-forenergy- saving information for judging whether there is a lot of or little room for energy saving, and the display unit displays this."
About the Company
Daikin Industries, Ltd. is a Japan-based multinational corporation present in Japan, China, Australia, India, Southeast Asia, Europe, and North America. The company was founded in 1924 by Akira Yamada in Osaka, Japan. Daikin has centrally been a chemical corporation, where its focus has been on air conditioning systems. It has since diversified its manufacturing division to take advantage of experience in fluorine chemistry.
Related Companies
Daikin Industries Ltd [profile]
Related Topics
Energy
Conservation
Global
Business
Legal
Related Geographies
Daikin Industries Ltd
Files Patent Application for Air Conditioning System
Indian Patent News
05 August 2011
[What follows is the
full text of the article.]
New Delhi, Aug. 5
-- Japan based Daikin Industries Ltd filed patent application for air
conditioning system. The inventor is Shimoda Junichi.
Daikin Industries
Ltd filed the patent application on Sept. 9, 2004. The patent application
number is 1698/DEL/2004 A. The international classification number is B60H1/00.
According to the
Controller General of Patents, Designs & Trade Marks, "A refrigerant
circuit is disposed which is formed by connection of an outdoor unit and two
indoor units And, the air conditioning capacity of the outdoor unit is
controlled so that the temperature of the refrigerant circulating though the
refrigerant circuit became a target value, and the target value is altered
correspondingly to the state of an operation. In other words, the control
characteristics of the target value are determined correspondingly to the air
conditioning load characteristics of building and, the target value is altered
according to the control characteristics and based on the inside/outside air
temperature difference between an indoor set temperature and an outside air
temperature. For example, during cooling mode operations, the control
characteristics of an evaporating temperature target value are determined
correspondingly to the cooling load characteristics of the building and
thereafter the evaporating temperature target value is altered according to the
control characteristics and based on the inside/outside temperature difference.
And, the air conditioning capacity of the outdoor unit is controlled such that
an evaporation temperature that a low-pressure pressure sensor detects becomes
a target value."
Related Companies
Daikin
Industries Ltd [profile]
Related Topics
Daikin Industries
Ltd. Files Patent Application for Hermetic Compressor
Indian Patent News
27 July 2011
[What follows is the
full text of the article.]
New Delhi, July 27
-- Japan based Daikin Industries Ltd. filed patent application for hermetic
compressor. The inventors are Katsumi Hirooka and Takeshi Hikawa.
Daikin Industries
Ltd. filed the patent application on Dec. 10, 2004. The patent application
number is 01900/KOLNP/2004 A. The international classification number is
F04B39/02.
According to the
Controller General of Patents, Designs & Trade Marks, "A high-pressure
chamber in a casing is communicated at the bottom with a liquid storage
container. A communication tube is connected at its one end to the upper end of
the liquid storage container and at the other end to a suction tube. In the middle
of the communication tube are provided a gas container and a first and a second
solenoid valve. When the first solenoid valve is closed and the second solenoid
valve is opened, the gas container is communicated with the suction tube to
reduce the pressure in the gas container. After that, the first solenoid valve
is opened and the second solenoid valve is closed, so that the gas container is
communicated with the liquid storage container to reduce the pressure in the
liquid storage container. Then the pressure of a lubricant oil in the liquid
storage container is reduced and a refrigerant dissolved in the oil gasifies.
The structure enables a lubrication failure resulting from oil viscosity
deterioration caused by a refrigerant dissolved in a lubricant oil to be
avoided and the reliability of an enclosed compressor to be improved."
About the Company
DAIKIN INDUSTRIES,
LTD. (Public, TYO:6367) is a Japan-based manufacturing company that operates in
three business segments. The Air Conditioning and Freezer segment manufactures
and sells housing equipment, such as air conditioning, air purifiers and water
boilers; commercial equipment, including package/spot air conditioning, water
chilling units, turbo refrigerators and industrial dust collection equipment; marine
equipment, such as marine container air conditioning, ship air conditioning and
ship freezers, and electronic systems, encompassing database systems for
research development and information technology (IT) network monitoring
systems. The Chemical segment supplies fluorocarbon gases, fluorine resins,
chemical products and chemical engineering machines. The Others segment is
engaged in the manufacture and sale of hydraulic equipment and machinery for
industrial and construction machinery use, cannonballs, domiciliary oxygen
medical equipment and others.
Related Companies
Daikin Industries Ltd [profile]
Related Topics
Related Geographies
Daikin Industries
Ltd. Receives Patent for Efficiency Improvement of a Swing Compressor by
Reducing Over-compression Loss
Indian Patent News
22 July 2011
[What follows is
the full text of the article.]
New Delhi, July 22
-- Daikin Industries Ltd. received patent for efficiency improvement of a swing
compressor by reducing over-compression loss on Dec. 14, 2007. The patent
number issued by the Indian Patent Office is 211358.
Daikin Industries
Ltd. had filed patent application number 1220/DELNP/2003 for efficiency
improvement of a swing compressor by reducing over-compression loss on Aug. 1,
2003. The inventors of the patent are Masanori Masuda, Katsumi Kato and
Yoshitaka Shibamoto.
The International
classification number is F04C2/32.
The PCT
International application number of the patent is PCT/JP03/01998 and the
application was filed on Feb. 24, 2003.
According to the
Controller General of Patents, Designs & Trade Marks, "The outer
peripheral surface of a swing piston is formed in a non-circular form. The
inner peripheral surface of a cylinder chamber is formed on a basis of an
envelope curve of the outer peripheral surface of the swing piston obtained at
the time of its swing. The outer peripheral surface of the swing piston and the
inner peripheral surface of the cylinder chamber are formed in, e.g., an ovoid
shape so that as compared to the case in which such inner and outer peripheral
surfaces are formed in a circular form, a shorter compression cycle and a
longer discharge cycle can be obtained at the time of swing of the swing
piston. As a result, an over compression loss when a refrigerant is discharged
in a swing compressor can be reduced."
About the Company
DAIKIN INDUSTRIES,
LTD. (Public, TYO:6367) is a Japan-based manufacturing company that operates in
three business segments. The Air Conditioning and Freezer segment manufactures
and sells housing equipment, such as air conditioning, air purifiers and water
boilers; commercial equipment, including package/spot air conditioning, water
chilling units, turbo refrigerators and industrial dust collection equipment;
marine equipment, such as marine container air conditioning, ship air
conditioning and ship freezers, and electronic systems, encompassing database
systems for research development and information technology (IT) network
monitoring systems. The Chemical segment supplies fluorocarbon gases, fluorine
resins, chemical products and chemical engineering machines. The Others segment
is engaged in the manufacture and sale of hydraulic equipment and machinery for
industrial and construction machinery use, cannonballs, domiciliary oxygen
medical equipment and others.
Daikin to Produce
Fluoroelastomer DAI-EL at Changshu Factory in China
JCNN News Summaries
21 July 2011
[What follows is the full text of the article.]
Tokyo, July 20,
2011 - (JCN) - Daikin Industries will establish a new production facility for
the fluoroelastomer DAI-EL at the Changshu Factory of its subsidiary Daikin
Fluorochemicals (China), a company that manufactures and sells fluorochemical
products in China. Mass production is scheduled to start from January 2013 at a
planned capital investment of approximately three billion yen.
The establishment
of this new production facility combined with the Yodogawa Plant in Japan and
the Lyon Factory in France will form a global three-base production system for
the Daikin fluoroelastomer manufacturing system and increase production
capacity to approximately 60% over current capacity.
The
fluoroelastomer DAI-EL excels at resisting change in shape and maintains its
form for a long period of time even when pressure is applied. It has superior
heat and oil resistant properties, and when used as parts in applications such
as automobile engine rooms, fuel systems, and oil seals, it helps to prevent
fuel and oil leaks and reduces the environmental impact over a long time.
The global
tightening of environmental regulations for automobiles (fuel mileage
improvement, exhaust emission control, reduction of fuel permeation), has
proceeded forward, and a switchover is underway to fluoroelastomers that reduce
the environmental load from other materials. Meanwhile, the number of
automobiles being manufactured around the world is increasing, and a
conspicuous expansion is seen, especially in the Chinese market.
Furthermore,
automobile manufacturers having factories in China are shifting to local
procurement, including procurement from Chinese local manufacturers, for
important safety parts (oil seals and fuel hoses) that use fluoroelastomers,
and the fluoroelastomer market in China continues to rapidly expand.
The fluoroelastomer
market in China was 8 billion yen in 2010, and in 2015 it is expected to grow
1.6 times that amount to 13 billion yen.
By newly
establishing production facilities, Daikin hopes to raise its top share from
its current share of around 10% of the fluoroelastomer market in China to
30-40% for 2015.
JCN Newswire. All
rights reserved. A division of Japan Corporate News Network K.K.
Daikin
Industries Ltd Files Patent Application for a Refrigerating Device
Indian Patent News
13 July 2011
[What follows is the full text of the article.]
New Delhi, July 13
-- Japan based Daikin Industries Ltd filed patent application for a
refrigerating device. The inventors are Shigeharu Taira, Junichirou Tanaka and
Koji Shibaike.
Daikin Industries
Ltd filed the patent application on Nov. 21, 2005. The patent application
number is 01281/MUMNP/2005 A. The international classification is F25B1/00.
According to the
Controller General of Patents, Designs& Trade Marks, "A refrigerating
device, comprising a refrigerating circuit having a compressor, an indoor heat
exchanger, a main motor-driven valve and an indoor heat exchanger connected
annularly to each other, wherein an R32 refrigerant or a mixed refrigerant
containing R32 by at least 70% by weight is used as working media, an
overcooling heat exchanger is disposed between the indoor heat exchanger and
main motor-driven valve, the gas side of the refrigerant circuit is bypassed,
using bypass tubes to the liquid side thereof through the overcooling heat
exchanger, an overcooling motor-driven valve (EV2) is disposed in the bypass
tube on the upstream side of the overcooling heat exchanger, a delivery
temperature detected by a delivery temperature sensor is judged by a delivery
temperature judgment part and, based on the judgment results thereof, the
opening of the overcooling motor-driven valve (EV2) is controlled so as to
control the volume of refrigerant flowing through the bypass tubes whereby,
using the working media containing R32 refrigerant, the delivery temperature of
the compressor can be optimized without lowering an efficiency so as to
increase the COP and reliability."
Daikin Industries Ltd. Files
Patent Application for Scroll Type Compressor
Indian Patent News
12 July 2011
[What follows is the
full text of the article.]
New Delhi, July 12
-- Japan based Daikin Industries Ltd. filed patent application for scroll type
compressor. The inventors are Kazuhiro Furushi, Katsumi Kato and Takahiro Ohno.
Daikin Industries
Ltd. filed the patent application on July 13, 2004. The patent application
number is 00976/KOLNP/2004 A. The international classification number is
F04C18/02.
According to the
Controller General of Patents, Designs & Trade Marks, "An adjustment
mechanism for generating overturn- prevention moment is provided in a
scroll-type compressor. In a revolution angle region where overturning moment
acting on a movable scroll during its revolution is equal to or more than a
predetermined value, the mechanism reduces the overturning moment. Because of
the mechanism, pressing force of the movable scroll to a fixed scroll is caused
to correspond to the variation of overturning moment induced by the revolution
of the movable scroll, so that the revolution movement of the movable scroll is
stabilized and compression efficiency of the scroll-type compressor is
enhanced"
About the Company
DAIKIN INDUSTRIES,
LTD. (Public, TYO:6367) is a Japan-based manufacturing company that operates in
three business segments. The Air Conditioning and Freezer segment manufactures
and sells housing equipment, such as air conditioning, air purifiers and water
boilers; commercial equipment, including package/spot air conditioning, water
chilling units, turbo refrigerators and industrial dust collection equipment;
marine equipment, such as marine container air conditioning, ship air
conditioning and ship freezers, and electronic systems, encompassing database
systems for research development and information technology (IT) network
monitoring systems. The Chemical segment supplies fluorocarbon gases, fluorine
resins, chemical products and chemical engineering machines. The Others segment
is engaged in the manufacture and sale of hydraulic equipment and machinery for
industrial and construction machinery use, cannonballs, domiciliary oxygen
medical equipment and others.
Daikin Industries
Ltd. Files Patent Application for Compressor
Indian Patent News
12 July 2011
[What follows is the
full text of the article.]
New Delhi, July 12
-- Japan based Daikin Industries Ltd. filed patent application for compressor.
The inventors are Hiroyuki Yamaji, Takashi Uekawa and Kazuhiro Furusho.
Daikin Industries
Ltd. filed the patent application on July 21, 2004. The patent application
number is 01039/KOLNP/2004 A. The international classification numbers are F04C18/02
and 29/02.
According to the
Controller General of Patents, Designs & Trade Marks, "A flow-limiting
member on the outer periphery of which a spiral passage is formed is inserted
in a high-pressure oil introducing passage inside an end plate of a movable
scroll. The high-pressure oil introducing passage is provided to introduce oil
from an oil supply passage to a thrust bearing."
About the Company
DAIKIN INDUSTRIES,
LTD. (Public, TYO:6367) is a Japan-based manufacturing company that operates in
three business segments. The Air Conditioning and Freezer segment manufactures
and sells housing equipment, such as air conditioning, air purifiers and water
boilers; commercial equipment, including package/spot air conditioning, water
chilling units, turbo refrigerators and industrial dust collection equipment;
marine equipment, such as marine container air conditioning, ship air
conditioning and ship freezers, and electronic systems, encompassing database
systems for research development and information technology (IT) network
monitoring systems. The Chemical segment supplies fluorocarbon gases, fluorine
resins, chemical products and chemical engineering machines. The Others segment
is engaged in the manufacture and sale of hydraulic equipment and machinery for
industrial and construction machinery use, cannonballs, domiciliary oxygen
medical equipment and others.
Daikin Industries Ltd. Receives Patent for Refrigerating Apparatus
Indian Patent News
08 July 2011
[What follows is the
full text of the article.]
New Delhi, July 8
-- Daikin Industries Ltd. received patent for refrigerating apparatus on Nov.
23, 2007. The patent number issued by the Indian Patent Office is 210967.
Daikin Industries
Ltd. had filed patent application number IN/PCT/2001/01278/MUM for refrigerating
apparatus on Oct. 15, 2001. The inventor of the patent is Hideki Matsuura.
The International
classification numbers are F25B1/00, H02K3/30 and F04B39/00.
The PCT
International application number of the patent is PCT/JP01/00512 and the
application was filed on Jan. 26, 2001.
According to the
Controller General of Patents, Designs & Trade Marks, "Since moisture
in a freezing circuit is absorbed by using polyvinyl ether oil having water
absorbability as freezer oil, an insulation film for a motor built in a
compressor hardly hydrolyzes even if the compressor becomes heated to high
temperature due to the use of a refrigerant consisting of R32. Further, the use
of polyvinyl ether which has a saturated moisture content of not less than
5,000 ppm at 30C, relative humidity of 80%, the tensile strength retaining rate
of a motor insulation film made of PET or PEN, which is easy to process, can be
50% or more, preventing deterioration of the insulation film. Therefore, it is
possible to avoid failure in the compressor and stabilize the freezer
performance for a long time."
About the Company
DAIKIN INDUSTRIES,
LTD. (Public, TYO:6367) is a Japan-based manufacturing company that operates in
three business segments. The Air Conditioning and Freezer segment manufactures
and sells housing equipment, such as air conditioning, air purifiers and water
boilers; commercial equipment, including package/spot air conditioning, water
chilling units, turbo refrigerators and industrial dust collection equipment;
marine equipment, such as marine container air conditioning, ship air
conditioning and ship freezers, and electronic systems, encompassing database
systems for research development and information technology (IT) network
monitoring systems. The Chemical segment supplies fluorocarbon gases, fluorine
resins, chemical products and chemical engineering machines. The Others segment
is engaged in the manufacture and sale of hydraulic equipment and machinery for
industrial and construction machinery use, cannonballs, domiciliary oxygen
medical equipment and others.
Daikin Industries
Ltd. Files Patent Application for a Refrigerating Device
Indian Patent News 07 July 2011
[What follows is
the full text of the article.]
New Delhi, July 7
-- Japan based Daikin Industries Ltd. filed patent application for a
refrigerating device.. The inventors are Shigeharu Taira, Junichirou Tanaka and
Koji Shibaike.
Daikin Industries
Ltd. filed the patent application on April 11, 2002. The patent application
number is IN/PCT/2002/00456/MUM A. The international classification number is
F25B1/00.
According to the
Controller General of Patents, Designs & Trade Marks, "A refrigerating
device, comprising a refrigerating circuit having a compressor, an indoor heat
exchanger, a main motor-driven valve and an indoor heat exchanger connected
annularly to each other, wherein an R32 refrigerant or a mixed refrigerant
containing R32 by at least 70% by weight is used as working media, an
overcooling heat exchanger is disposed between the indoor heat exchanger and
main motor-driven valve, the gas side of the refrigerant circuit is bypassed,
using bypass tubes to the liquid side thereof through the overcooling heat
exchanger, an overcooling motor-driven valve is disposed in the bypass tube on
the upstream side of the overcooling heat exchanger, a delivery temperature
detected by a delivery temperature sensor is judged by a delivery temperature
judgment part and, based on the judgment results thereof, the opening of the
overcooling motor-driven valve is controlled so as to control the volume of
refrigerant flowing through the bypass tubes, whereby, using the working media
containing R32 refrigerant, the delivery temperature of the compressor can be
optimized without lowering an efficiency so as to increase the COP and
reliability."
About the Company
DAIKIN INDUSTRIES,
LTD. (Public, TYO:6367) is a Japan-based manufacturing company that operates in
three business segments. The Air Conditioning and Freezer segment manufactures
and sells housing equipment, such as air conditioning, air purifiers and water
boilers; commercial equipment, including package/spot air conditioning, water
chilling units, turbo refrigerators and industrial dust collection equipment;
marine equipment, such as marine container air conditioning, ship air
conditioning and ship freezers, and electronic systems, encompassing database
systems for research development and information technology (IT) network
monitoring systems. The Chemical segment supplies fluorocarbon gases, fluorine
resins, chemical products and chemical engineering machines. The Others segment
is engaged in the manufacture and sale of hydraulic equipment and machinery for
industrial and construction machinery use, cannonballs, domiciliary oxygen
medical equipment and others.
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 with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
Revenue |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
Total Revenue |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
9,320.3 |
7,581.8 |
8,347.2 |
7,432.3 |
5,122.6 |
|
Cost of Revenue, Total |
9,320.3 |
7,581.8 |
8,347.2 |
7,432.3 |
5,122.6 |
|
Gross Profit |
4,220.5 |
3,435.5 |
3,619.1 |
3,863.0 |
2,673.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
1,453.5 |
1,300.9 |
1,334.7 |
1,246.8 |
940.0 |
|
Labor & Related Expense |
1,065.7 |
965.9 |
940.0 |
791.2 |
610.9 |
|
Advertising Expense |
427.2 |
343.9 |
379.4 |
406.0 |
291.1 |
|
Total Selling/General/Administrative Expenses |
2,946.5 |
2,610.7 |
2,654.2 |
2,444.0 |
1,842.0 |
|
Research & Development |
179.5 |
149.0 |
164.0 |
142.6 |
101.8 |
|
Depreciation |
75.8 |
71.7 |
69.4 |
47.6 |
39.5 |
|
Amortization of Acquisition Costs |
138.2 |
130.3 |
120.6 |
108.0 |
- |
|
Depreciation/Amortization |
214.0 |
202.0 |
190.0 |
155.7 |
39.5 |
|
Impairment-Assets Held for Use |
- |
- |
- |
- |
7.4 |
|
Impairment-Assets Held for Sale |
312.8 |
26.9 |
27.6 |
21.3 |
0.2 |
|
Other Unusual Expense (Income) |
11.3 |
12.6 |
15.5 |
2.6 |
-5.8 |
|
Unusual Expense (Income) |
324.0 |
39.4 |
43.1 |
23.9 |
1.8 |
|
Total Operating Expense |
12,984.3 |
10,583.0 |
11,398.3 |
10,198.5 |
7,107.7 |
|
|
|
|
|
|
|
|
Operating Income |
556.5 |
434.4 |
567.9 |
1,096.8 |
688.7 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-72.7 |
-72.3 |
-70.0 |
-88.9 |
-51.9 |
|
Interest Expense, Net Non-Operating |
-72.7 |
-72.3 |
-70.0 |
-88.9 |
-51.9 |
|
Interest Income -
Non-Operating |
27.5 |
23.7 |
23.7 |
23.1 |
13.0 |
|
Investment Income -
Non-Operating |
13.4 |
32.6 |
-28.1 |
19.6 |
59.8 |
|
Interest/Investment Income - Non-Operating |
40.9 |
56.3 |
-4.4 |
42.7 |
72.8 |
|
Interest Income (Expense) - Net Non-Operating Total |
-31.8 |
-16.0 |
-74.4 |
-46.2 |
20.9 |
|
Gain (Loss) on Sale of Assets |
-7.7 |
-10.4 |
-17.0 |
-7.5 |
3.8 |
|
Other Non-Operating Income (Expense) |
16.4 |
1.0 |
-19.0 |
-9.6 |
-2.6 |
|
Other, Net |
16.4 |
1.0 |
-19.0 |
-9.6 |
-2.6 |
|
Income Before Tax |
533.4 |
409.0 |
457.5 |
1,033.5 |
710.8 |
|
|
|
|
|
|
|
|
Total Income Tax |
257.5 |
171.2 |
210.9 |
351.1 |
297.5 |
|
Income After Tax |
275.9 |
237.8 |
246.7 |
682.5 |
413.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-44.0 |
-29.1 |
-30.1 |
-27.9 |
-24.9 |
|
Net Income Before Extraord Items |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
Net Income |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
291.7 |
291.9 |
292.0 |
285.3 |
263.1 |
|
Basic EPS Excl Extraord Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Basic/Primary EPS Incl Extraord Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
Diluted Weighted Average Shares |
291.7 |
291.9 |
292.0 |
285.5 |
263.2 |
|
Diluted EPS Excl Extraord Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Diluted EPS Incl Extraord Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Dividends per Share - Common Stock Primary Issue |
0.42 |
0.34 |
0.38 |
0.33 |
0.24 |
|
Gross Dividends - Common Stock |
122.5 |
100.5 |
110.4 |
97.1 |
63.0 |
|
Interest Expense, Supplemental |
72.7 |
72.3 |
70.0 |
88.9 |
51.9 |
|
Depreciation, Supplemental |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Total Special Items |
469.9 |
180.2 |
180.7 |
139.4 |
12.0 |
|
Normalized Income Before Tax |
1,003.3 |
589.1 |
638.2 |
1,173.0 |
722.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
160.1 |
20.9 |
27.7 |
10.7 |
-0.8 |
|
Inc Tax Ex Impact of Sp Items |
417.6 |
192.1 |
238.5 |
361.7 |
296.6 |
|
Normalized Income After Tax |
585.7 |
397.1 |
399.7 |
811.2 |
426.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
541.6 |
367.9 |
369.5 |
783.3 |
401.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.86 |
1.26 |
1.27 |
2.75 |
1.53 |
|
Diluted Normalized EPS |
1.86 |
1.26 |
1.27 |
2.74 |
1.52 |
|
Amort of Acquisition Costs, Supplemental |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Advertising Expense, Supplemental |
427.2 |
343.9 |
379.4 |
406.0 |
291.1 |
|
Research & Development Exp, Supplemental |
359.1 |
303.6 |
303.9 |
280.6 |
232.6 |
|
Reported Operating Profit |
880.5 |
473.8 |
611.0 |
1,120.7 |
690.5 |
|
Reported Ordinary Profit |
872.9 |
470.9 |
517.6 |
1,064.8 |
669.4 |
|
Normalized EBIT |
880.5 |
473.8 |
611.0 |
1,120.7 |
690.5 |
|
Normalized EBITDA |
1,484.0 |
1,037.9 |
1,177.5 |
1,570.1 |
986.1 |
|
Interest Cost - Domestic |
22.5 |
21.2 |
24.8 |
21.8 |
11.5 |
|
Service Cost - Domestic |
37.0 |
33.8 |
30.6 |
26.1 |
23.1 |
|
Prior Service Cost - Domestic |
-0.4 |
-0.4 |
-0.2 |
-0.3 |
-0.3 |
|
Expected Return on Assets - Domestic |
-25.1 |
-21.0 |
-26.9 |
-27.4 |
-14.5 |
|
Actuarial Gains and Losses - Domestic |
16.1 |
20.7 |
5.9 |
-2.7 |
-0.7 |
|
Transition Costs - Domestic |
- |
- |
12.2 |
- |
17.9 |
|
Domestic Pension Plan Expense |
50.1 |
54.3 |
46.2 |
17.5 |
37.0 |
|
Defined Contribution Expense - Domestic |
26.5 |
32.7 |
22.8 |
16.5 |
9.6 |
|
Total Pension Expense |
76.6 |
87.0 |
69.0 |
34.0 |
46.6 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
22.5 |
21.2 |
24.8 |
21.8 |
11.5 |
|
Total Plan Service Cost |
37.0 |
33.8 |
30.6 |
26.1 |
23.1 |
|
Total Plan Expected Return |
-25.1 |
-21.0 |
-26.9 |
-27.4 |
-14.5 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.88 |
93.44 |
98.77 |
99.535 |
118.075 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
2,023.6 |
1,712.7 |
1,065.5 |
1,121.8 |
710.7 |
|
Cash and Short Term Investments |
2,023.6 |
1,712.7 |
1,065.5 |
1,121.8 |
710.7 |
|
Accounts Receivable -
Trade, Gross |
2,400.1 |
1,938.5 |
1,804.7 |
2,272.5 |
1,775.7 |
|
Provision for Doubtful
Accounts |
-59.7 |
-54.4 |
-51.7 |
-54.8 |
-54.0 |
|
Trade Accounts Receivable - Net |
2,340.3 |
1,884.1 |
1,753.0 |
2,217.7 |
1,721.7 |
|
Total Receivables, Net |
2,340.3 |
1,884.1 |
1,753.0 |
2,217.7 |
1,721.7 |
|
Inventories - Finished Goods |
1,466.1 |
1,197.2 |
1,354.1 |
1,480.0 |
- |
|
Inventories - Work In Progress |
510.0 |
448.0 |
450.0 |
510.5 |
- |
|
Inventories - Raw Materials |
458.5 |
336.4 |
389.3 |
386.0 |
- |
|
Total Inventory |
2,434.5 |
1,981.6 |
2,193.4 |
2,376.6 |
1,797.5 |
|
Deferred Income Tax - Current Asset |
117.3 |
113.1 |
99.0 |
134.3 |
107.6 |
|
Other Current Assets |
312.8 |
270.9 |
273.6 |
284.5 |
215.2 |
|
Other Current Assets, Total |
430.2 |
383.9 |
372.6 |
418.8 |
322.7 |
|
Total Current Assets |
7,228.6 |
5,962.4 |
5,384.5 |
6,134.9 |
4,552.7 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
2,582.1 |
2,511.2 |
2,461.1 |
2,442.8 |
2,018.4 |
|
Goodwill, Net |
2,057.9 |
1,957.1 |
1,958.1 |
2,016.7 |
1,782.8 |
|
Intangibles, Net |
102.1 |
101.0 |
95.2 |
71.6 |
64.6 |
|
LT Investment - Affiliate Companies |
150.7 |
131.1 |
- |
- |
- |
|
LT Investments - Other |
1,127.0 |
1,205.5 |
955.2 |
1,218.2 |
1,164.2 |
|
Long Term Investments |
1,277.7 |
1,336.6 |
955.2 |
1,218.2 |
1,164.2 |
|
Note Receivable - Long Term |
11.8 |
12.1 |
11.5 |
9.4 |
9.8 |
|
Pension Benefits - Overfunded |
- |
- |
- |
- |
108.0 |
|
Deferred Income Tax - Long Term Asset |
181.3 |
103.9 |
192.0 |
51.6 |
74.0 |
|
Other Long Term Assets |
222.8 |
212.2 |
255.7 |
212.3 |
61.3 |
|
Other Long Term Assets, Total |
404.0 |
316.1 |
447.6 |
263.9 |
243.3 |
|
Total Assets |
13,664.3 |
12,196.6 |
11,313.2 |
12,157.4 |
9,835.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,410.5 |
1,045.9 |
811.4 |
1,288.0 |
1,031.8 |
|
Accrued Expenses |
607.6 |
525.2 |
487.7 |
571.2 |
416.8 |
|
Notes Payable/Short Term Debt |
892.6 |
928.2 |
1,973.1 |
1,325.7 |
3,191.0 |
|
Current Portion - Long Term Debt/Capital Leases |
44.5 |
158.5 |
310.4 |
88.5 |
91.1 |
|
Income Taxes Payable |
143.1 |
86.8 |
88.5 |
135.9 |
115.0 |
|
Deferred Income Tax - Current Liability |
29.5 |
10.4 |
0.0 |
14.4 |
5.5 |
|
Other Current Liabilities |
827.4 |
685.9 |
673.7 |
725.9 |
555.3 |
|
Other Current liabilities, Total |
1,000.0 |
783.2 |
762.2 |
876.3 |
675.8 |
|
Total Current Liabilities |
3,955.2 |
3,441.0 |
4,344.6 |
4,149.6 |
5,406.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
3,533.4 |
3,170.0 |
1,931.5 |
2,171.8 |
580.4 |
|
Capital Lease Obligations |
23.7 |
16.7 |
16.2 |
0.0 |
- |
|
Total Long Term Debt |
3,557.1 |
3,186.8 |
1,947.8 |
2,171.8 |
580.4 |
|
Total Debt |
4,494.2 |
4,273.5 |
4,231.2 |
3,585.9 |
3,862.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
29.7 |
28.3 |
12.8 |
71.6 |
211.5 |
|
Deferred Income Tax |
29.7 |
28.3 |
12.8 |
71.6 |
211.5 |
|
Minority Interest |
141.9 |
137.7 |
121.8 |
138.9 |
103.2 |
|
Pension Benefits - Underfunded |
47.6 |
47.8 |
39.9 |
43.1 |
43.7 |
|
Other Long Term Liabilities |
30.8 |
33.9 |
62.9 |
95.3 |
121.7 |
|
Other Liabilities, Total |
78.3 |
81.8 |
102.8 |
138.4 |
165.4 |
|
Total Liabilities |
7,762.2 |
6,875.6 |
6,529.9 |
6,670.3 |
6,467.1 |
|
|
|
|
|
|
|
|
Common Stock |
1,026.0 |
910.0 |
860.9 |
854.3 |
237.3 |
|
Common Stock |
1,026.0 |
910.0 |
860.9 |
854.3 |
237.3 |
|
Additional Paid-In Capital |
1,016.8 |
898.9 |
847.8 |
838.9 |
221.8 |
|
Retained Earnings (Accumulated Deficit) |
4,654.4 |
4,023.5 |
3,714.0 |
3,531.4 |
2,421.7 |
|
Treasury Stock - Common |
-66.0 |
-59.2 |
-48.0 |
-35.2 |
-20.0 |
|
Unrealized Gain (Loss) |
54.9 |
-3.6 |
-151.2 |
105.2 |
285.9 |
|
Translation Adjustment |
-783.9 |
-448.6 |
-440.2 |
192.5 |
222.1 |
|
Other Equity, Total |
-783.9 |
-448.6 |
-440.2 |
192.5 |
222.1 |
|
Total Equity |
5,902.1 |
5,321.0 |
4,783.3 |
5,487.1 |
3,368.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
13,664.3 |
12,196.6 |
11,313.3 |
12,157.4 |
9,835.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
291.7 |
291.6 |
291.9 |
292.1 |
263.0 |
|
Total Common Shares Outstanding |
291.7 |
291.6 |
291.9 |
292.1 |
263.0 |
|
Treasury Shares - Common Stock Primary Issue |
1.5 |
1.5 |
1.2 |
1.0 |
0.8 |
|
Employees |
41,569 |
38,874 |
39,896 |
36,300 |
33,480 |
|
Number of Common Shareholders |
48,191 |
33,788 |
36,928 |
28,466 |
14,112 |
|
Total Long Term Debt, Supplemental |
3,561.4 |
3,313.2 |
2,229.4 |
2,260.3 |
671.5 |
|
Long Term Debt Maturing within 1 Year |
28.0 |
143.2 |
297.8 |
88.5 |
91.1 |
|
Long Term Debt Maturing in Year 2 |
689.6 |
26.1 |
134.4 |
287.4 |
83.9 |
|
Long Term Debt Maturing in Year 3 |
127.6 |
609.5 |
84.4 |
158.1 |
272.3 |
|
Long Term Debt Maturing in Year 4 |
965.6 |
123.6 |
558.1 |
84.8 |
120.9 |
|
Long Term Debt Maturing in Year 5 |
125.8 |
856.9 |
90.8 |
585.7 |
101.9 |
|
Long Term Debt Maturing in 2-3 Years |
817.2 |
635.6 |
218.8 |
445.5 |
356.3 |
|
Long Term Debt Maturing in 4-5 Years |
1,091.4 |
980.6 |
648.9 |
670.4 |
222.8 |
|
Long Term Debt Matur. in Year 6 & Beyond |
1,624.8 |
1,553.8 |
1,063.8 |
1,055.8 |
1.4 |
|
Total Capital Leases, Supplemental |
40.2 |
32.0 |
28.8 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
16.5 |
15.3 |
12.5 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
10.8 |
7.2 |
5.9 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
7.3 |
5.6 |
4.8 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
4.0 |
3.0 |
3.7 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
1.0 |
0.8 |
1.5 |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
18.1 |
12.8 |
10.7 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
5.0 |
3.7 |
5.2 |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.5 |
0.2 |
0.4 |
- |
- |
|
Pension Obligation - Domestic |
830.3 |
739.2 |
652.2 |
752.5 |
632.1 |
|
Plan Assets - Domestic |
797.9 |
720.8 |
601.1 |
810.0 |
756.3 |
|
Funded Status - Domestic |
-32.4 |
-18.3 |
-51.2 |
57.5 |
124.2 |
|
Total Funded Status |
-32.4 |
-18.3 |
-51.2 |
57.5 |
124.2 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Prepaid Benefits - Domestic |
133.6 |
131.2 |
142.8 |
135.3 |
108.0 |
|
Accrued Liabilities - Domestic |
-47.6 |
-47.8 |
-39.9 |
-43.1 |
-43.7 |
|
Other Assets, Net - Domestic |
118.4 |
101.7 |
154.1 |
34.7 |
-59.9 |
|
Net Assets Recognized on Balance Sheet |
204.5 |
185.1 |
257.1 |
127.0 |
4.5 |
|
Total Plan Obligations |
830.3 |
739.2 |
652.2 |
752.5 |
632.1 |
|
Total Plan Assets |
797.9 |
720.8 |
601.1 |
810.0 |
756.3 |
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 with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
533.4 |
409.0 |
457.5 |
1,033.5 |
710.8 |
|
Depreciation |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Depreciation/Depletion |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Amortization of Acquisition Costs |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Amortization |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Unusual Items |
328.2 |
49.4 |
44.5 |
28.7 |
-37.8 |
|
Equity in Net Earnings (Loss) |
-15.6 |
-3.7 |
-5.3 |
-6.5 |
-5.0 |
|
Other Non-Cash Items |
20.1 |
27.9 |
29.9 |
40.6 |
9.5 |
|
Non-Cash Items |
332.7 |
73.5 |
69.1 |
62.8 |
-33.4 |
|
Accounts Receivable |
-281.5 |
4.2 |
204.0 |
-146.2 |
-77.1 |
|
Inventories |
-285.9 |
355.6 |
-38.7 |
-240.9 |
-181.9 |
|
Prepaid Expenses |
13.8 |
19.8 |
-8.9 |
-6.2 |
-107.7 |
|
Accounts Payable |
256.6 |
131.4 |
-317.4 |
36.7 |
159.6 |
|
Other Operating Cash Flow |
-257.6 |
-167.1 |
-313.6 |
-284.9 |
-49.8 |
|
Changes in Working Capital |
-554.5 |
343.8 |
-474.6 |
-641.6 |
-256.9 |
|
Cash from Operating Activities |
915.0 |
1,390.4 |
618.5 |
904.1 |
716.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-286.8 |
-322.6 |
-610.9 |
-414.2 |
-364.0 |
|
Capital Expenditures |
-286.8 |
-322.6 |
-610.9 |
-414.2 |
-364.0 |
|
Acquisition of Business |
0.0 |
-5.0 |
-7.3 |
0.0 |
- |
|
Sale of Fixed Assets |
10.1 |
23.1 |
4.4 |
20.4 |
6.6 |
|
Sale/Maturity of Investment |
10.5 |
0.4 |
0.0 |
0.2 |
3.3 |
|
Purchase of Investments |
-7.2 |
-123.7 |
-344.5 |
-252.6 |
-2,253.8 |
|
Other Investing Cash Flow |
1.4 |
-0.9 |
-30.0 |
-22.4 |
-2.3 |
|
Other Investing Cash Flow Items, Total |
14.8 |
-106.1 |
-377.4 |
-254.5 |
-2,246.2 |
|
Cash from Investing Activities |
-272.0 |
-428.7 |
-988.2 |
-668.6 |
-2,610.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-41.7 |
-57.2 |
-48.3 |
-37.5 |
-19.0 |
|
Financing Cash Flow Items |
-41.7 |
-57.2 |
-48.3 |
-37.5 |
-19.0 |
|
Cash Dividends Paid - Common |
-115.7 |
-109.9 |
-110.4 |
-80.8 |
-56.2 |
|
Total Cash Dividends Paid |
-115.7 |
-109.9 |
-110.4 |
-80.8 |
-56.2 |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
991.4 |
0.0 |
|
Common Stock, Net |
- |
- |
0.0 |
991.4 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
0.0 |
991.4 |
0.0 |
|
Short Term Debt, Net |
-133.5 |
-1,168.6 |
664.1 |
-2,125.8 |
2,172.8 |
|
Long Term Debt Issued |
9.8 |
1,291.5 |
112.0 |
1,440.8 |
35.3 |
|
Long Term Debt
Reduction |
-157.8 |
-331.6 |
-135.9 |
-158.6 |
-29.5 |
|
Long Term Debt, Net |
-148.1 |
959.8 |
-23.9 |
1,282.2 |
5.8 |
|
Issuance (Retirement) of Debt, Net |
-281.6 |
-208.8 |
640.2 |
-843.6 |
2,178.6 |
|
Cash from Financing Activities |
-439.0 |
-375.9 |
481.5 |
29.5 |
2,103.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-110.9 |
4.1 |
-173.1 |
-21.5 |
34.3 |
|
Net Change in Cash |
93.1 |
589.8 |
-61.3 |
243.4 |
243.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,859.2 |
1,124.4 |
1,099.5 |
723.2 |
463.3 |
|
Net Cash - Ending Balance |
1,952.3 |
1,714.2 |
1,038.2 |
966.6 |
706.8 |
|
Cash Interest Paid |
77.4 |
71.4 |
81.1 |
101.9 |
- |
|
Cash Taxes Paid |
257.2 |
151.8 |
318.0 |
342.1 |
207.5 |
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 with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
Total Revenue |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
|
|
|
|
|
|
|
Cost of Sales |
9,320.3 |
7,581.8 |
8,347.2 |
7,432.3 |
5,122.6 |
|
Sales Promotion/Advertisement |
427.2 |
343.9 |
379.4 |
406.0 |
291.1 |
|
Delivery Expenses |
401.3 |
327.2 |
368.6 |
355.9 |
258.2 |
|
Provision for Doubtful Accounts |
11.7 |
6.7 |
14.2 |
4.0 |
12.8 |
|
Reserve for Product Warranty |
253.5 |
238.6 |
173.1 |
165.9 |
148.1 |
|
Director/Employee Salary |
1,024.3 |
920.0 |
909.6 |
772.6 |
571.7 |
|
Provision for director bonuses |
1.6 |
1.3 |
1.4 |
1.7 |
1.3 |
|
Accrued Retirement |
39.8 |
44.6 |
29.0 |
16.9 |
37.9 |
|
Depreciation |
75.8 |
71.7 |
69.4 |
47.6 |
39.5 |
|
Research&Development |
179.5 |
149.0 |
164.0 |
142.6 |
101.8 |
|
Amort. of Goodwill |
138.2 |
130.3 |
120.6 |
108.0 |
- |
|
Other SGA |
787.0 |
728.3 |
778.8 |
721.0 |
520.9 |
|
SP Partial completion accured retire |
- |
- |
- |
0.0 |
-5.8 |
|
SP Insurance Income from Warehouse Fire |
- |
- |
- |
- |
0.0 |
|
SP G on reversal of subscription rights |
-0.5 |
-0.1 |
0.0 |
- |
- |
|
SP G on extinguishment of tie-in shares |
-5.0 |
0.0 |
- |
- |
- |
|
SP Other special gain |
0.0 |
0.0 |
0.0 |
- |
- |
|
SP Loss Retir.Fix.Asset |
- |
- |
- |
- |
7.4 |
|
SP Impairment Loss |
- |
- |
- |
- |
0.0 |
|
SP Loss Val. Invest.Sec |
313.4 |
39.1 |
27.6 |
21.3 |
0.2 |
|
SP Withdrawal from Parking Lot Business |
- |
- |
- |
- |
0.0 |
|
SP L on completion of pension plan |
1.7 |
0.0 |
12.2 |
0.0 |
- |
|
SP L on cancel of lease contracts |
0.0 |
11.2 |
0.0 |
- |
- |
|
SP Loss on disaster |
12.9 |
0.0 |
- |
- |
- |
|
SP Other special loss |
2.2 |
1.5 |
3.3 |
2.6 |
0.0 |
|
NOP Gain on valuation of derivatives |
-0.6 |
-12.2 |
0.0 |
- |
- |
|
Total Operating Expense |
12,984.3 |
10,583.0 |
11,398.3 |
10,198.5 |
7,107.7 |
|
|
|
|
|
|
|
|
NOP Interest Income |
27.5 |
23.7 |
23.7 |
23.1 |
13.0 |
|
NOP Dividend Income |
21.0 |
18.6 |
21.8 |
16.9 |
9.4 |
|
NOP Invest.Income-Equity |
15.6 |
3.7 |
5.3 |
6.5 |
5.0 |
|
NOP G-Exchange Rate |
0.0 |
10.2 |
0.0 |
0.0 |
5.9 |
|
NOP Tariffs tax refund income |
14.2 |
0.7 |
- |
- |
- |
|
NOP Other Non-Op.Income |
36.9 |
45.2 |
42.4 |
40.4 |
25.6 |
|
NOP Interest Expense |
-72.7 |
-72.3 |
-70.0 |
-88.9 |
-51.9 |
|
NOP Exchange Loss |
-16.1 |
0.0 |
-55.3 |
-3.9 |
0.0 |
|
NOP Other Non-Op.Expense |
-34.7 |
-44.9 |
-61.4 |
-50.0 |
-28.2 |
|
SP Gain Sale of Land |
- |
- |
0.0 |
0.2 |
0.1 |
|
SP Gain Sale Inv. Secs. |
0.0 |
0.1 |
0.0 |
0.1 |
3.0 |
|
SP Gain Sale Inv.F.Affi |
- |
- |
- |
0.0 |
0.1 |
|
SP L on disp.fixed assets |
-7.7 |
-10.4 |
-17.0 |
-7.7 |
- |
|
SP Transfer of parking business |
- |
- |
- |
0.0 |
6.0 |
|
SP Hedge foreign exchange affiliate |
- |
- |
- |
0.0 |
36.3 |
|
SP Loss Sale Inv. Sec. |
-7.2 |
0.0 |
- |
- |
- |
|
SP Loss Liquid.Affiliat |
- |
- |
- |
0.0 |
-2.2 |
|
Net Income Before Taxes |
533.4 |
409.0 |
457.5 |
1,033.5 |
710.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
257.5 |
171.2 |
210.9 |
351.1 |
297.5 |
|
Net Income After Taxes |
275.9 |
237.8 |
246.7 |
682.5 |
413.3 |
|
|
|
|
|
|
|
|
Minor. Interest |
-44.0 |
-29.1 |
-30.1 |
-27.9 |
-24.9 |
|
Net Income Before Extra. Items |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
Net Income |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Bonus |
- |
- |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
291.7 |
291.9 |
292.0 |
285.3 |
263.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Basic EPS Including ExtraOrdinary Item |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
Diluted Weighted Average Shares |
291.7 |
291.9 |
292.0 |
285.5 |
263.2 |
|
Diluted EPS Excluding ExtraOrd Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Diluted EPS Including ExtraOrd Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
DPS-Common Stock |
0.42 |
0.34 |
0.38 |
0.33 |
0.24 |
|
Gross Dividends - Common Stock |
122.5 |
100.5 |
110.4 |
97.1 |
63.0 |
|
Normalized Income Before Taxes |
1,003.3 |
589.1 |
638.2 |
1,173.0 |
722.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
417.6 |
192.1 |
238.5 |
361.7 |
296.6 |
|
Normalized Income After Taxes |
585.7 |
397.1 |
399.7 |
811.2 |
426.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
541.6 |
367.9 |
369.5 |
783.3 |
401.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.86 |
1.26 |
1.27 |
2.75 |
1.53 |
|
Diluted Normalized EPS |
1.86 |
1.26 |
1.27 |
2.74 |
1.52 |
|
Advertising Exp. |
427.2 |
343.9 |
379.4 |
406.0 |
291.1 |
|
R&D Exp. (SGA) |
179.5 |
149.0 |
164.0 |
142.6 |
101.8 |
|
R&D Exp. (COGS) |
179.6 |
154.7 |
139.9 |
138.0 |
130.8 |
|
Interest Expense |
72.7 |
72.3 |
70.0 |
88.9 |
51.9 |
|
Amort. of Goodwill |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Depreciation |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Reported Operating Profit |
880.5 |
473.8 |
611.0 |
1,120.7 |
690.5 |
|
Reported Ordinary Profit |
872.9 |
470.9 |
517.6 |
1,064.8 |
669.4 |
|
Service Cost |
37.0 |
33.8 |
30.6 |
26.1 |
23.1 |
|
Interest Cost |
22.5 |
21.2 |
24.8 |
21.8 |
11.5 |
|
Expected Return on Plan Assets |
-25.1 |
-21.0 |
-26.9 |
-27.4 |
-14.5 |
|
Pension Exp. due to Acct. Changes |
- |
- |
- |
- |
23.7 |
|
Prior Service Cost |
-0.4 |
-0.4 |
-0.2 |
-0.3 |
-0.3 |
|
Actuarial Gains and Losses |
16.1 |
20.7 |
5.9 |
-2.7 |
-0.7 |
|
Transit. L. to Defined Contribution Plan |
- |
- |
12.2 |
- |
-5.8 |
|
Domestic Pension Plan Expense |
50.1 |
54.3 |
46.2 |
17.5 |
37.0 |
|
Defined Contribution Expense |
26.5 |
32.7 |
22.8 |
16.5 |
9.6 |
|
Total Pension Expense |
76.6 |
87.0 |
69.0 |
34.0 |
46.6 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expected Rate of Return |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.88 |
93.44 |
98.77 |
99.535 |
118.075 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash&Deposits |
2,023.6 |
1,712.7 |
1,065.5 |
1,121.8 |
710.7 |
|
Note&Acct.Rcvbl. |
2,400.1 |
1,938.5 |
1,804.7 |
2,272.5 |
1,775.7 |
|
Inventories |
- |
- |
- |
- |
1,797.5 |
|
Merchandise & Finished goods |
1,466.1 |
1,197.2 |
1,354.1 |
1,480.0 |
- |
|
Work-in-progress |
510.0 |
448.0 |
450.0 |
510.5 |
- |
|
Raw materials & Supplies |
458.5 |
336.4 |
389.3 |
386.0 |
- |
|
Deferred Tax |
117.3 |
113.1 |
99.0 |
134.3 |
107.6 |
|
Other Curr.Asset |
312.8 |
270.9 |
273.6 |
284.5 |
215.2 |
|
Allow.Doubt.Acct |
-59.7 |
-54.4 |
-51.7 |
-54.8 |
-54.0 |
|
Total Current Assets |
7,228.6 |
5,962.4 |
5,384.5 |
6,134.9 |
4,552.7 |
|
|
|
|
|
|
|
|
Bldg.&Structures |
857.0 |
824.6 |
733.9 |
658.3 |
540.8 |
|
Mach.&Vehicles |
1,003.5 |
1,030.7 |
1,001.6 |
1,091.9 |
891.1 |
|
Land |
367.7 |
316.9 |
281.7 |
287.8 |
241.4 |
|
Lease assets, net |
36.6 |
27.7 |
23.9 |
0.0 |
- |
|
Constr.-in-Progr |
101.0 |
99.3 |
221.6 |
191.6 |
172.2 |
|
Other PP&E |
216.3 |
212.0 |
198.3 |
213.2 |
172.8 |
|
Goodwill |
2,057.9 |
1,957.1 |
1,958.1 |
2,016.7 |
1,782.8 |
|
Consolid.Adjust. |
- |
- |
- |
- |
0.0 |
|
Other Intangible |
102.1 |
101.0 |
95.2 |
71.6 |
64.6 |
|
Investment Secs. |
1,127.0 |
1,205.5 |
955.2 |
1,218.2 |
1,164.2 |
|
Equity secs.-nonconsol affil.&sub. |
53.1 |
46.9 |
- |
- |
- |
|
Inv't partnership-nonconsol.affil.&subs. |
97.6 |
84.2 |
- |
- |
- |
|
LT Loans |
11.8 |
12.1 |
11.5 |
9.4 |
9.8 |
|
Deferred Tax |
181.3 |
103.9 |
192.0 |
51.6 |
74.0 |
|
Prepaid pension benefits |
- |
- |
- |
- |
108.0 |
|
Other Assets |
235.5 |
223.4 |
266.1 |
222.1 |
70.7 |
|
Allow.Doubt.Acct |
-12.8 |
-11.1 |
-10.4 |
-9.9 |
-9.4 |
|
Total Assets |
13,664.3 |
12,196.6 |
11,313.2 |
12,157.4 |
9,835.8 |
|
|
|
|
|
|
|
|
Note&Acct. Pay. |
1,410.5 |
1,045.9 |
811.4 |
1,288.0 |
1,031.8 |
|
ST Debt |
831.3 |
746.3 |
758.1 |
743.0 |
2,437.3 |
|
Commercial Paper |
61.3 |
181.9 |
1,214.9 |
582.7 |
753.8 |
|
Cur. Port., LTD |
28.0 |
143.2 |
95.4 |
88.5 |
91.1 |
|
Lease liability |
16.5 |
15.3 |
12.5 |
0.0 |
- |
|
Curr.Port.Bond |
- |
0.0 |
202.5 |
0.0 |
- |
|
Corp.Tax Payable |
143.1 |
86.8 |
88.5 |
135.9 |
115.0 |
|
Deferred Tax |
29.5 |
10.4 |
0.0 |
14.4 |
5.5 |
|
Reserve for directors' bonuses |
1.7 |
1.3 |
1.4 |
1.9 |
1.3 |
|
Accrued Expense |
605.9 |
523.9 |
486.3 |
569.3 |
415.5 |
|
Res.Prod.Warran. |
262.1 |
237.4 |
176.1 |
190.6 |
146.7 |
|
Other Cur. Liab. |
565.3 |
448.6 |
497.6 |
535.4 |
408.6 |
|
Total Current Liabilities |
3,955.2 |
3,441.0 |
4,344.6 |
4,149.6 |
5,406.5 |
|
|
|
|
|
|
|
|
Corp. Bond |
1,206.6 |
1,070.2 |
0.0 |
200.9 |
169.4 |
|
Long Term Debt |
2,326.8 |
2,099.8 |
1,931.5 |
1,970.8 |
411.1 |
|
Lease liability |
23.7 |
16.7 |
16.2 |
0.0 |
- |
|
Total Long Term Debt |
3,557.1 |
3,186.8 |
1,947.8 |
2,171.8 |
580.4 |
|
|
|
|
|
|
|
|
Deferred Tax |
29.7 |
28.3 |
12.8 |
71.6 |
211.5 |
|
Res.Accrd.Retir. |
47.6 |
47.8 |
39.9 |
43.1 |
43.7 |
|
LT Payables |
14.3 |
18.7 |
58.4 |
90.0 |
114.4 |
|
Other LT liabilities |
16.5 |
15.2 |
4.5 |
5.3 |
7.3 |
|
Minor. Interest |
141.9 |
137.7 |
121.8 |
138.9 |
103.2 |
|
Total Liabilities |
7,762.2 |
6,875.6 |
6,529.9 |
6,670.3 |
6,467.1 |
|
|
|
|
|
|
|
|
Common Stock |
1,026.0 |
910.0 |
860.9 |
854.3 |
237.3 |
|
Paid in Capital |
1,001.2 |
888.0 |
840.1 |
833.6 |
219.9 |
|
Retained Earning |
4,654.4 |
4,023.5 |
3,714.0 |
3,531.4 |
2,421.7 |
|
Treasury Stock |
-66.0 |
-59.2 |
-48.0 |
-35.2 |
-20.0 |
|
Unrealized Gain |
56.0 |
-5.4 |
-155.9 |
101.5 |
286.1 |
|
Deferred hedge gain/loss |
-1.1 |
1.7 |
4.7 |
3.7 |
-0.2 |
|
Translation Adj. |
-783.9 |
-448.6 |
-440.2 |
192.5 |
222.1 |
|
Stock subscription |
15.6 |
10.9 |
7.7 |
5.2 |
1.9 |
|
Total Equity |
5,902.1 |
5,321.0 |
4,783.3 |
5,487.1 |
3,368.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
13,664.3 |
12,196.6 |
11,313.3 |
12,157.4 |
9,835.8 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
291.7 |
291.6 |
291.9 |
292.1 |
263.0 |
|
Total Common Shares Outstanding |
291.7 |
291.6 |
291.9 |
292.1 |
263.0 |
|
T/S-Common Stock |
1.5 |
1.5 |
1.2 |
1.0 |
0.8 |
|
Full-Time Employees |
41,569 |
38,874 |
39,896 |
36,300 |
33,480 |
|
Number of Common Shareholders |
48,191 |
33,788 |
36,928 |
28,466 |
14,112 |
|
LT Debt, mat. within 1 yr. |
28.0 |
143.2 |
297.8 |
88.5 |
91.1 |
|
LT Debt, mat. b/w 1 & 2 yr. |
689.6 |
26.1 |
134.4 |
287.4 |
83.9 |
|
LT Debt, mat. b/w 2 & 3 yr. |
127.6 |
609.5 |
84.4 |
158.1 |
272.3 |
|
LT Debt, mat. b/w 3 & 4 yr. |
965.6 |
123.6 |
558.1 |
84.8 |
120.9 |
|
LT Debt, mat. b/w 4 & 5 yr. |
125.8 |
856.9 |
90.8 |
585.7 |
101.9 |
|
Other LT Debt. |
1,624.8 |
1,553.8 |
1,063.8 |
1,055.8 |
1.4 |
|
Total Long Term Debt, Supplemental |
3,561.4 |
3,313.2 |
2,229.4 |
2,260.3 |
671.5 |
|
Capital Lease Maturing Within 1 Yr |
16.5 |
15.3 |
12.5 |
- |
- |
|
Capital Lease Maturing Within 2 Yr |
10.8 |
7.2 |
5.9 |
- |
- |
|
Capital Lease Maturing Within 3 Yr |
7.3 |
5.6 |
4.8 |
- |
- |
|
Capital Lease Maturing Within 4 Yr |
4.0 |
3.0 |
3.7 |
- |
- |
|
Capital Lease Maturing Within 5 Yr |
1.0 |
0.8 |
1.5 |
- |
- |
|
Capital Lease-Remaining |
0.5 |
0.2 |
0.4 |
- |
- |
|
Total Capital Leases |
40.2 |
32.0 |
28.8 |
- |
- |
|
Pension Obligation |
830.3 |
739.2 |
652.2 |
752.5 |
632.1 |
|
Fair Value of Plan Assets |
797.9 |
720.8 |
601.1 |
810.0 |
756.3 |
|
Funded Status |
-32.4 |
-18.3 |
-51.2 |
57.5 |
124.2 |
|
Total Funded Status |
-32.4 |
-18.3 |
-51.2 |
57.5 |
124.2 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expected Rate of Return |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Unrecognized Prior Service Cost |
-0.9 |
-2.3 |
-2.8 |
-2.2 |
-2.1 |
|
Unrecognized Actuarial Gains and Losses |
119.4 |
104.1 |
157.0 |
36.9 |
-57.8 |
|
Prepaid Pension Benefits |
133.6 |
131.2 |
142.8 |
135.3 |
108.0 |
|
Reserve for Accrued Retirement Benefits |
-47.6 |
-47.8 |
-39.9 |
-43.1 |
-43.7 |
|
Net Assets Recognized on Balance Sheet |
204.5 |
185.1 |
257.1 |
127.0 |
4.5 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
116.944303 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Tohmatsu &
Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income bf. Tax |
533.4 |
409.0 |
457.5 |
1,033.5 |
710.8 |
|
Depreciation |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Impairment Loss |
- |
- |
- |
- |
0.0 |
|
Amort. of Goodwill |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Allow.Doubt.Acct. |
1.6 |
-0.8 |
8.8 |
-8.6 |
2.7 |
|
Inter.&Div. Income |
-48.5 |
-42.3 |
-45.5 |
-40.0 |
-22.4 |
|
Interest Expense |
72.7 |
72.3 |
70.0 |
97.1 |
58.9 |
|
Inv. Income-Equity |
-15.6 |
-3.7 |
-5.3 |
-6.5 |
-5.0 |
|
G sale of land |
- |
- |
0.0 |
-0.2 |
-0.1 |
|
Gain/Loss Disp. PP&E |
7.7 |
10.4 |
17.0 |
7.7 |
7.4 |
|
G/L-Sale Inv. Secs. |
7.2 |
-0.1 |
0.0 |
-0.1 |
-3.0 |
|
G on sale of affiliated securities |
- |
- |
- |
0.0 |
-0.1 |
|
Exchange hedge - Purch. Affili. Stk. |
- |
- |
- |
0.0 |
-36.3 |
|
L-Val. Inv. Secs. |
313.4 |
39.1 |
27.6 |
21.3 |
0.2 |
|
Sale of Parking Lot maintenance Business |
- |
- |
- |
0.0 |
-6.0 |
|
Withdrawal from Parking Lot Business |
- |
- |
- |
- |
0.0 |
|
Insurance Income from Warehouse Fire |
- |
- |
- |
- |
0.0 |
|
Acct.Receivables |
-281.5 |
4.2 |
204.0 |
-146.2 |
-77.1 |
|
Inventories |
-285.9 |
355.6 |
-38.7 |
-240.9 |
-181.9 |
|
Acct. Payables |
302.0 |
173.8 |
-310.4 |
67.0 |
44.5 |
|
Reserve for retirement benefits |
-5.7 |
-1.2 |
-2.5 |
-8.1 |
-29.8 |
|
Prepaid pension benefits |
13.8 |
19.8 |
-8.9 |
-6.2 |
-107.7 |
|
Pension payable |
-45.4 |
-42.4 |
-7.0 |
-30.3 |
115.1 |
|
Bonus Paid Directors |
- |
- |
- |
0.0 |
-0.9 |
|
Other operating activities |
28.7 |
13.8 |
40.0 |
119.2 |
151.5 |
|
Inter.&Div. R'cvd. |
48.3 |
42.3 |
45.5 |
39.9 |
22.4 |
|
Interest Paid |
-77.4 |
-71.4 |
-81.1 |
-101.9 |
-57.5 |
|
Tax Paid |
-257.2 |
-151.8 |
-318.0 |
-342.1 |
-207.5 |
|
Spain Warehouse Fire Related Paid |
- |
- |
- |
- |
0.0 |
|
Sale of Parking Lot maintenance Business |
- |
- |
- |
0.0 |
6.0 |
|
Exchange hedge - Purch. Affili. Stk. |
- |
- |
- |
0.0 |
36.3 |
|
Cash Chg. due to FY Period Change |
- |
- |
-0.8 |
0.1 |
0.2 |
|
Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Cash from Operating Activities |
915.0 |
1,390.4 |
618.5 |
904.1 |
716.1 |
|
|
|
|
|
|
|
|
Time Deposit Made |
- |
- |
- |
- |
0.0 |
|
Capital Expenditure |
-286.8 |
-322.6 |
-610.9 |
-414.2 |
-364.0 |
|
Sale of PP&E |
10.1 |
23.1 |
4.4 |
20.4 |
6.6 |
|
Purch. Invest. Secs. |
-1.9 |
-22.4 |
-191.9 |
-227.6 |
-238.4 |
|
Sale Invest. Secs. |
10.5 |
0.4 |
0.0 |
0.2 |
3.3 |
|
Purchase of businesses |
0.0 |
-5.0 |
-7.3 |
0.0 |
- |
|
Inv't partnership-nonconsol.affil. made |
-5.3 |
-51.8 |
-32.7 |
0.0 |
- |
|
Purchase subs' closely-held capital |
- |
0.0 |
-32.4 |
0.0 |
- |
|
Purch.Subs.Stock |
0.0 |
-49.1 |
-82.4 |
-25.0 |
-2,015.4 |
|
Purchase of subs.' closely-held secs. |
0.0 |
-0.4 |
-5.1 |
0.0 |
- |
|
Other |
1.4 |
-0.9 |
-30.0 |
-22.4 |
-2.3 |
|
Cash from Investing Activities |
-272.0 |
-428.7 |
-988.2 |
-668.6 |
-2,610.2 |
|
|
|
|
|
|
|
|
ST Borrowing, Net |
-133.5 |
-1,168.6 |
664.1 |
-2,125.8 |
2,172.8 |
|
LT Debt Proceed |
9.8 |
220.7 |
112.0 |
1,440.8 |
35.3 |
|
LT Debt Paid |
-157.8 |
-116.4 |
-135.9 |
-158.6 |
-29.5 |
|
Proceeds from issuance of bonds |
0.0 |
1,070.8 |
0.0 |
- |
- |
|
Bond Redeemed |
0.0 |
-215.2 |
0.0 |
- |
0.0 |
|
Cash Dividend |
-115.7 |
-109.9 |
-110.4 |
-80.8 |
-56.2 |
|
Stocks issued |
- |
- |
0.0 |
991.4 |
0.0 |
|
Dividend Paid MI |
-17.6 |
-26.5 |
-22.7 |
-27.0 |
-11.7 |
|
Other |
-24.1 |
-30.7 |
-25.5 |
-10.5 |
-7.3 |
|
Cash from Financing Activities |
-439.0 |
-375.9 |
481.5 |
29.5 |
2,103.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-110.9 |
4.1 |
-173.1 |
-21.5 |
34.3 |
|
Net Change in Cash |
93.1 |
589.8 |
-61.3 |
243.4 |
243.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,859.2 |
1,124.4 |
1,099.5 |
723.2 |
463.3 |
|
Net Cash - Ending Balance |
1,952.3 |
1,714.2 |
1,038.2 |
966.6 |
706.8 |
|
Cash Interest Paid |
77.4 |
71.4 |
81.1 |
101.9 |
- |
|
Cash Taxes Paid |
257.2 |
151.8 |
318.0 |
342.1 |
207.5 |
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 with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
Revenue |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
Total Revenue |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
9,320.3 |
7,581.8 |
8,347.2 |
7,432.3 |
5,122.6 |
|
Cost of Revenue, Total |
9,320.3 |
7,581.8 |
8,347.2 |
7,432.3 |
5,122.6 |
|
Gross Profit |
4,220.5 |
3,435.5 |
3,619.1 |
3,863.0 |
2,673.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
1,453.5 |
1,300.9 |
1,334.7 |
1,246.8 |
940.0 |
|
Labor & Related Expense |
1,065.7 |
965.9 |
940.0 |
791.2 |
610.9 |
|
Advertising Expense |
427.2 |
343.9 |
379.4 |
406.0 |
291.1 |
|
Total Selling/General/Administrative Expenses |
2,946.5 |
2,610.7 |
2,654.2 |
2,444.0 |
1,842.0 |
|
Research & Development |
179.5 |
149.0 |
164.0 |
142.6 |
101.8 |
|
Depreciation |
75.8 |
71.7 |
69.4 |
47.6 |
39.5 |
|
Amortization of Acquisition Costs |
138.2 |
130.3 |
120.6 |
108.0 |
- |
|
Depreciation/Amortization |
214.0 |
202.0 |
190.0 |
155.7 |
39.5 |
|
Impairment-Assets Held for Use |
- |
- |
- |
- |
7.4 |
|
Impairment-Assets Held for Sale |
312.8 |
26.9 |
27.6 |
21.3 |
0.2 |
|
Other Unusual Expense (Income) |
11.3 |
12.6 |
15.5 |
2.6 |
-5.8 |
|
Unusual Expense (Income) |
324.0 |
39.4 |
43.1 |
23.9 |
1.8 |
|
Total Operating Expense |
12,984.3 |
10,583.0 |
11,398.3 |
10,198.5 |
7,107.7 |
|
|
|
|
|
|
|
|
Operating Income |
556.5 |
434.4 |
567.9 |
1,096.8 |
688.7 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-72.7 |
-72.3 |
-70.0 |
-88.9 |
-51.9 |
|
Interest Expense, Net Non-Operating |
-72.7 |
-72.3 |
-70.0 |
-88.9 |
-51.9 |
|
Interest Income -
Non-Operating |
27.5 |
23.7 |
23.7 |
23.1 |
13.0 |
|
Investment Income -
Non-Operating |
13.4 |
32.6 |
-28.1 |
19.6 |
59.8 |
|
Interest/Investment Income - Non-Operating |
40.9 |
56.3 |
-4.4 |
42.7 |
72.8 |
|
Interest Income (Expense) - Net Non-Operating Total |
-31.8 |
-16.0 |
-74.4 |
-46.2 |
20.9 |
|
Gain (Loss) on Sale of Assets |
-7.7 |
-10.4 |
-17.0 |
-7.5 |
3.8 |
|
Other Non-Operating Income (Expense) |
16.4 |
1.0 |
-19.0 |
-9.6 |
-2.6 |
|
Other, Net |
16.4 |
1.0 |
-19.0 |
-9.6 |
-2.6 |
|
Income Before Tax |
533.4 |
409.0 |
457.5 |
1,033.5 |
710.8 |
|
|
|
|
|
|
|
|
Total Income Tax |
257.5 |
171.2 |
210.9 |
351.1 |
297.5 |
|
Income After Tax |
275.9 |
237.8 |
246.7 |
682.5 |
413.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-44.0 |
-29.1 |
-30.1 |
-27.9 |
-24.9 |
|
Net Income Before Extraord Items |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
Net Income |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
291.7 |
291.9 |
292.0 |
285.3 |
263.1 |
|
Basic EPS Excl Extraord Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Basic/Primary EPS Incl Extraord Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
Diluted Weighted Average Shares |
291.7 |
291.9 |
292.0 |
285.5 |
263.2 |
|
Diluted EPS Excl Extraord Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Diluted EPS Incl Extraord Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Dividends per Share - Common Stock Primary Issue |
0.42 |
0.34 |
0.38 |
0.33 |
0.24 |
|
Gross Dividends - Common Stock |
122.5 |
100.5 |
110.4 |
97.1 |
63.0 |
|
Interest Expense, Supplemental |
72.7 |
72.3 |
70.0 |
88.9 |
51.9 |
|
Depreciation, Supplemental |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Total Special Items |
469.9 |
180.2 |
180.7 |
139.4 |
12.0 |
|
Normalized Income Before Tax |
1,003.3 |
589.1 |
638.2 |
1,173.0 |
722.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
160.1 |
20.9 |
27.7 |
10.7 |
-0.8 |
|
Inc Tax Ex Impact of Sp Items |
417.6 |
192.1 |
238.5 |
361.7 |
296.6 |
|
Normalized Income After Tax |
585.7 |
397.1 |
399.7 |
811.2 |
426.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
541.6 |
367.9 |
369.5 |
783.3 |
401.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.86 |
1.26 |
1.27 |
2.75 |
1.53 |
|
Diluted Normalized EPS |
1.86 |
1.26 |
1.27 |
2.74 |
1.52 |
|
Amort of Acquisition Costs, Supplemental |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Advertising Expense, Supplemental |
427.2 |
343.9 |
379.4 |
406.0 |
291.1 |
|
Research & Development Exp, Supplemental |
359.1 |
303.6 |
303.9 |
280.6 |
232.6 |
|
Reported Operating Profit |
880.5 |
473.8 |
611.0 |
1,120.7 |
690.5 |
|
Reported Ordinary Profit |
872.9 |
470.9 |
517.6 |
1,064.8 |
669.4 |
|
Normalized EBIT |
880.5 |
473.8 |
611.0 |
1,120.7 |
690.5 |
|
Normalized EBITDA |
1,484.0 |
1,037.9 |
1,177.5 |
1,570.1 |
986.1 |
|
Interest Cost - Domestic |
22.5 |
21.2 |
24.8 |
21.8 |
11.5 |
|
Service Cost - Domestic |
37.0 |
33.8 |
30.6 |
26.1 |
23.1 |
|
Prior Service Cost - Domestic |
-0.4 |
-0.4 |
-0.2 |
-0.3 |
-0.3 |
|
Expected Return on Assets - Domestic |
-25.1 |
-21.0 |
-26.9 |
-27.4 |
-14.5 |
|
Actuarial Gains and Losses - Domestic |
16.1 |
20.7 |
5.9 |
-2.7 |
-0.7 |
|
Transition Costs - Domestic |
- |
- |
12.2 |
- |
17.9 |
|
Domestic Pension Plan Expense |
50.1 |
54.3 |
46.2 |
17.5 |
37.0 |
|
Defined Contribution Expense - Domestic |
26.5 |
32.7 |
22.8 |
16.5 |
9.6 |
|
Total Pension Expense |
76.6 |
87.0 |
69.0 |
34.0 |
46.6 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
22.5 |
21.2 |
24.8 |
21.8 |
11.5 |
|
Total Plan Service Cost |
37.0 |
33.8 |
30.6 |
26.1 |
23.1 |
|
Total Plan Expected Return |
-25.1 |
-21.0 |
-26.9 |
-27.4 |
-14.5 |
Interim Income Statement
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.605269 |
82.241044 |
82.567473 |
85.838925 |
92.080323 |
|
|
|
|
|
|
|
|
Net Sales |
3,648.4 |
3,767.0 |
3,385.9 |
3,611.9 |
2,833.6 |
|
Revenue |
3,648.4 |
3,767.0 |
3,385.9 |
3,611.9 |
2,833.6 |
|
Total Revenue |
3,648.4 |
3,767.0 |
3,385.9 |
3,611.9 |
2,833.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,508.6 |
2,612.8 |
2,351.9 |
2,477.6 |
1,921.3 |
|
Cost of Revenue, Total |
2,508.6 |
2,612.8 |
2,351.9 |
2,477.6 |
1,921.3 |
|
Gross Profit |
1,139.8 |
1,154.1 |
1,034.0 |
1,134.3 |
912.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
889.6 |
596.0 |
531.4 |
550.3 |
467.6 |
|
Labor & Related Expense |
- |
290.4 |
273.0 |
261.9 |
241.9 |
|
Total Selling/General/Administrative Expenses |
889.6 |
886.4 |
804.4 |
812.2 |
709.5 |
|
Amortization of Acquisition Costs |
- |
35.9 |
36.0 |
34.4 |
32.2 |
|
Depreciation/Amortization |
- |
35.9 |
36.0 |
34.4 |
32.2 |
|
Litigation |
- |
- |
8.6 |
- |
- |
|
Impairment-Assets Held for Use |
4.4 |
- |
- |
- |
0.0 |
|
Impairment-Assets Held for Sale |
0.2 |
57.7 |
0.0 |
272.9 |
0.0 |
|
Other Unusual Expense (Income) |
-0.3 |
13.3 |
-15.6 |
1.4 |
-4.7 |
|
Unusual Expense (Income) |
4.2 |
71.0 |
-7.0 |
274.3 |
-4.7 |
|
Total Operating Expense |
3,402.4 |
3,606.1 |
3,185.4 |
3,598.4 |
2,658.3 |
|
|
|
|
|
|
|
|
Operating Income |
246.0 |
160.8 |
200.6 |
13.5 |
175.3 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-18.5 |
-19.3 |
-18.3 |
-18.5 |
-16.8 |
|
Interest Expense, Net Non-Operating |
-18.5 |
-19.3 |
-18.3 |
-18.5 |
-16.8 |
|
Interest Income -
Non-Operating |
9.3 |
14.9 |
6.6 |
6.9 |
5.6 |
|
Investment Income -
Non-Operating |
14.3 |
4.5 |
-4.5 |
0.0 |
-1.9 |
|
Interest/Investment Income - Non-Operating |
23.6 |
19.4 |
2.1 |
6.9 |
3.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
5.1 |
0.1 |
-16.2 |
-11.6 |
-13.1 |
|
Gain (Loss) on Sale of Assets |
-1.2 |
-3.6 |
-4.1 |
-1.6 |
-0.5 |
|
Other Non-Operating Income (Expense) |
-0.8 |
14.0 |
13.1 |
2.7 |
5.4 |
|
Other, Net |
-0.8 |
14.0 |
13.1 |
2.7 |
5.4 |
|
Income Before Tax |
249.2 |
171.4 |
193.4 |
3.0 |
167.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
89.7 |
62.6 |
104.7 |
3.1 |
86.9 |
|
Income After Tax |
159.5 |
108.8 |
88.7 |
-0.1 |
80.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-6.8 |
-10.8 |
-11.8 |
-13.3 |
-8.2 |
|
Net Income Before Extraord Items |
152.7 |
98.0 |
76.9 |
-13.4 |
72.0 |
|
Net Income |
152.7 |
98.0 |
76.9 |
-13.4 |
72.0 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
152.7 |
98.0 |
76.8 |
-13.5 |
71.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
152.7 |
98.0 |
76.8 |
-13.5 |
71.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
291.5 |
291.7 |
291.7 |
291.7 |
291.7 |
|
Basic EPS Excl Extraord Items |
0.52 |
0.34 |
0.26 |
-0.05 |
0.25 |
|
Basic/Primary EPS Incl Extraord Items |
0.52 |
0.34 |
0.26 |
-0.05 |
0.25 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
152.7 |
98.0 |
76.8 |
-13.5 |
71.9 |
|
Diluted Weighted Average Shares |
291.5 |
291.7 |
291.7 |
291.7 |
291.7 |
|
Diluted EPS Excl Extraord Items |
0.52 |
0.34 |
0.26 |
-0.05 |
0.25 |
|
Diluted EPS Incl Extraord Items |
0.52 |
0.34 |
0.26 |
-0.05 |
0.25 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.22 |
0.00 |
0.21 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
63.8 |
0.0 |
61.2 |
0.0 |
|
Interest Expense, Supplemental |
18.5 |
19.3 |
18.3 |
18.5 |
16.8 |
|
Depreciation, Supplemental |
111.6 |
125.3 |
122.2 |
114.6 |
104.8 |
|
Total Special Items |
41.7 |
110.4 |
33.1 |
310.3 |
28.0 |
|
Normalized Income Before Tax |
290.8 |
281.8 |
226.5 |
313.2 |
195.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.9 |
27.2 |
-1.6 |
96.6 |
-2.2 |
|
Inc Tax Ex Impact of Sp Items |
91.6 |
89.9 |
103.2 |
99.6 |
84.8 |
|
Normalized Income After Tax |
199.2 |
191.9 |
123.4 |
213.6 |
110.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
192.4 |
181.2 |
111.5 |
200.2 |
102.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.66 |
0.62 |
0.38 |
0.69 |
0.35 |
|
Diluted Normalized EPS |
0.66 |
0.62 |
0.38 |
0.69 |
0.35 |
|
Amort of Acquisition Costs, Supplemental |
36.3 |
35.9 |
36.0 |
34.4 |
32.2 |
|
Reported Operating Profit |
250.2 |
231.9 |
193.5 |
287.7 |
170.6 |
|
Reported Ordinary Profit |
254.5 |
249.9 |
185.5 |
278.8 |
162.9 |
|
Normalized EBIT |
250.3 |
231.8 |
193.5 |
287.7 |
170.6 |
|
Normalized EBITDA |
398.1 |
393.0 |
351.7 |
436.7 |
307.6 |
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 with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
2,023.6 |
1,712.7 |
1,065.5 |
1,121.8 |
710.7 |
|
Cash and Short Term Investments |
2,023.6 |
1,712.7 |
1,065.5 |
1,121.8 |
710.7 |
|
Accounts Receivable -
Trade, Gross |
2,400.1 |
1,938.5 |
1,804.7 |
2,272.5 |
1,775.7 |
|
Provision for Doubtful
Accounts |
-59.7 |
-54.4 |
-51.7 |
-54.8 |
-54.0 |
|
Trade Accounts Receivable - Net |
2,340.3 |
1,884.1 |
1,753.0 |
2,217.7 |
1,721.7 |
|
Total Receivables, Net |
2,340.3 |
1,884.1 |
1,753.0 |
2,217.7 |
1,721.7 |
|
Inventories - Finished Goods |
1,466.1 |
1,197.2 |
1,354.1 |
1,480.0 |
- |
|
Inventories - Work In Progress |
510.0 |
448.0 |
450.0 |
510.5 |
- |
|
Inventories - Raw Materials |
458.5 |
336.4 |
389.3 |
386.0 |
- |
|
Total Inventory |
2,434.5 |
1,981.6 |
2,193.4 |
2,376.6 |
1,797.5 |
|
Deferred Income Tax - Current Asset |
117.3 |
113.1 |
99.0 |
134.3 |
107.6 |
|
Other Current Assets |
312.8 |
270.9 |
273.6 |
284.5 |
215.2 |
|
Other Current Assets, Total |
430.2 |
383.9 |
372.6 |
418.8 |
322.7 |
|
Total Current Assets |
7,228.6 |
5,962.4 |
5,384.5 |
6,134.9 |
4,552.7 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
2,582.1 |
2,511.2 |
2,461.1 |
2,442.8 |
2,018.4 |
|
Goodwill, Net |
2,057.9 |
1,957.1 |
1,958.1 |
2,016.7 |
1,782.8 |
|
Intangibles, Net |
102.1 |
101.0 |
95.2 |
71.6 |
64.6 |
|
LT Investment - Affiliate Companies |
150.7 |
131.1 |
- |
- |
- |
|
LT Investments - Other |
1,127.0 |
1,205.5 |
955.2 |
1,218.2 |
1,164.2 |
|
Long Term Investments |
1,277.7 |
1,336.6 |
955.2 |
1,218.2 |
1,164.2 |
|
Note Receivable - Long Term |
11.8 |
12.1 |
11.5 |
9.4 |
9.8 |
|
Pension Benefits - Overfunded |
- |
- |
- |
- |
108.0 |
|
Deferred Income Tax - Long Term Asset |
181.3 |
103.9 |
192.0 |
51.6 |
74.0 |
|
Other Long Term Assets |
222.8 |
212.2 |
255.7 |
212.3 |
61.3 |
|
Other Long Term Assets, Total |
404.0 |
316.1 |
447.6 |
263.9 |
243.3 |
|
Total Assets |
13,664.3 |
12,196.6 |
11,313.2 |
12,157.4 |
9,835.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,410.5 |
1,045.9 |
811.4 |
1,288.0 |
1,031.8 |
|
Accrued Expenses |
607.6 |
525.2 |
487.7 |
571.2 |
416.8 |
|
Notes Payable/Short Term Debt |
892.6 |
928.2 |
1,973.1 |
1,325.7 |
3,191.0 |
|
Current Portion - Long Term Debt/Capital Leases |
44.5 |
158.5 |
310.4 |
88.5 |
91.1 |
|
Income Taxes Payable |
143.1 |
86.8 |
88.5 |
135.9 |
115.0 |
|
Deferred Income Tax - Current Liability |
29.5 |
10.4 |
0.0 |
14.4 |
5.5 |
|
Other Current Liabilities |
827.4 |
685.9 |
673.7 |
725.9 |
555.3 |
|
Other Current liabilities, Total |
1,000.0 |
783.2 |
762.2 |
876.3 |
675.8 |
|
Total Current Liabilities |
3,955.2 |
3,441.0 |
4,344.6 |
4,149.6 |
5,406.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
3,533.4 |
3,170.0 |
1,931.5 |
2,171.8 |
580.4 |
|
Capital Lease Obligations |
23.7 |
16.7 |
16.2 |
0.0 |
- |
|
Total Long Term Debt |
3,557.1 |
3,186.8 |
1,947.8 |
2,171.8 |
580.4 |
|
Total Debt |
4,494.2 |
4,273.5 |
4,231.2 |
3,585.9 |
3,862.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
29.7 |
28.3 |
12.8 |
71.6 |
211.5 |
|
Deferred Income Tax |
29.7 |
28.3 |
12.8 |
71.6 |
211.5 |
|
Minority Interest |
141.9 |
137.7 |
121.8 |
138.9 |
103.2 |
|
Pension Benefits - Underfunded |
47.6 |
47.8 |
39.9 |
43.1 |
43.7 |
|
Other Long Term Liabilities |
30.8 |
33.9 |
62.9 |
95.3 |
121.7 |
|
Other Liabilities, Total |
78.3 |
81.8 |
102.8 |
138.4 |
165.4 |
|
Total Liabilities |
7,762.2 |
6,875.6 |
6,529.9 |
6,670.3 |
6,467.1 |
|
|
|
|
|
|
|
|
Common Stock |
1,026.0 |
910.0 |
860.9 |
854.3 |
237.3 |
|
Common Stock |
1,026.0 |
910.0 |
860.9 |
854.3 |
237.3 |
|
Additional Paid-In Capital |
1,016.8 |
898.9 |
847.8 |
838.9 |
221.8 |
|
Retained Earnings (Accumulated Deficit) |
4,654.4 |
4,023.5 |
3,714.0 |
3,531.4 |
2,421.7 |
|
Treasury Stock - Common |
-66.0 |
-59.2 |
-48.0 |
-35.2 |
-20.0 |
|
Unrealized Gain (Loss) |
54.9 |
-3.6 |
-151.2 |
105.2 |
285.9 |
|
Translation Adjustment |
-783.9 |
-448.6 |
-440.2 |
192.5 |
222.1 |
|
Other Equity, Total |
-783.9 |
-448.6 |
-440.2 |
192.5 |
222.1 |
|
Total Equity |
5,902.1 |
5,321.0 |
4,783.3 |
5,487.1 |
3,368.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
13,664.3 |
12,196.6 |
11,313.3 |
12,157.4 |
9,835.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
291.7 |
291.6 |
291.9 |
292.1 |
263.0 |
|
Total Common Shares Outstanding |
291.7 |
291.6 |
291.9 |
292.1 |
263.0 |
|
Treasury Shares - Common Stock Primary Issue |
1.5 |
1.5 |
1.2 |
1.0 |
0.8 |
|
Employees |
41,569 |
38,874 |
39,896 |
36,300 |
33,480 |
|
Number of Common Shareholders |
48,191 |
33,788 |
36,928 |
28,466 |
14,112 |
|
Total Long Term Debt, Supplemental |
3,561.4 |
3,313.2 |
2,229.4 |
2,260.3 |
671.5 |
|
Long Term Debt Maturing within 1 Year |
28.0 |
143.2 |
297.8 |
88.5 |
91.1 |
|
Long Term Debt Maturing in Year 2 |
689.6 |
26.1 |
134.4 |
287.4 |
83.9 |
|
Long Term Debt Maturing in Year 3 |
127.6 |
609.5 |
84.4 |
158.1 |
272.3 |
|
Long Term Debt Maturing in Year 4 |
965.6 |
123.6 |
558.1 |
84.8 |
120.9 |
|
Long Term Debt Maturing in Year 5 |
125.8 |
856.9 |
90.8 |
585.7 |
101.9 |
|
Long Term Debt Maturing in 2-3 Years |
817.2 |
635.6 |
218.8 |
445.5 |
356.3 |
|
Long Term Debt Maturing in 4-5 Years |
1,091.4 |
980.6 |
648.9 |
670.4 |
222.8 |
|
Long Term Debt Matur. in Year 6 & Beyond |
1,624.8 |
1,553.8 |
1,063.8 |
1,055.8 |
1.4 |
|
Total Capital Leases, Supplemental |
40.2 |
32.0 |
28.8 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
16.5 |
15.3 |
12.5 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
10.8 |
7.2 |
5.9 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
7.3 |
5.6 |
4.8 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
4.0 |
3.0 |
3.7 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
1.0 |
0.8 |
1.5 |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
18.1 |
12.8 |
10.7 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
5.0 |
3.7 |
5.2 |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.5 |
0.2 |
0.4 |
- |
- |
|
Pension Obligation - Domestic |
830.3 |
739.2 |
652.2 |
752.5 |
632.1 |
|
Plan Assets - Domestic |
797.9 |
720.8 |
601.1 |
810.0 |
756.3 |
|
Funded Status - Domestic |
-32.4 |
-18.3 |
-51.2 |
57.5 |
124.2 |
|
Total Funded Status |
-32.4 |
-18.3 |
-51.2 |
57.5 |
124.2 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Prepaid Benefits - Domestic |
133.6 |
131.2 |
142.8 |
135.3 |
108.0 |
|
Accrued Liabilities - Domestic |
-47.6 |
-47.8 |
-39.9 |
-43.1 |
-43.7 |
|
Other Assets, Net - Domestic |
118.4 |
101.7 |
154.1 |
34.7 |
-59.9 |
|
Net Assets Recognized on Balance Sheet |
204.5 |
185.1 |
257.1 |
127.0 |
4.5 |
|
Total Plan Obligations |
830.3 |
739.2 |
652.2 |
752.5 |
632.1 |
|
Total Plan Assets |
797.9 |
720.8 |
601.1 |
810.0 |
756.3 |
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 |
1,982.8 |
2,023.6 |
2,105.3 |
2,142.4 |
1,611.6 |
|
Cash and Short Term Investments |
1,982.8 |
2,023.6 |
2,105.3 |
2,142.4 |
1,611.6 |
|
Accounts Receivable -
Trade, Gross |
2,581.1 |
2,400.1 |
2,278.9 |
2,224.1 |
2,144.8 |
|
Provision for Doubtful
Accounts |
-62.9 |
-59.7 |
-58.8 |
-59.3 |
-55.6 |
|
Trade Accounts Receivable - Net |
2,518.2 |
2,340.3 |
2,220.0 |
2,164.8 |
2,089.2 |
|
Total Receivables, Net |
2,518.2 |
2,340.3 |
2,220.0 |
2,164.8 |
2,089.2 |
|
Inventories - Finished Goods |
1,625.0 |
1,466.1 |
1,405.4 |
1,263.3 |
1,259.3 |
|
Inventories - Work In Progress |
634.1 |
510.0 |
590.7 |
523.9 |
507.1 |
|
Inventories - Raw Materials |
540.8 |
458.5 |
432.9 |
409.3 |
388.7 |
|
Total Inventory |
2,799.9 |
2,434.5 |
2,428.9 |
2,196.5 |
2,155.1 |
|
Other Current Assets |
505.3 |
430.2 |
419.1 |
386.3 |
411.4 |
|
Other Current Assets, Total |
505.3 |
430.2 |
419.1 |
386.3 |
411.4 |
|
Total Current Assets |
7,806.1 |
7,228.6 |
7,173.4 |
6,889.9 |
6,267.3 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Gross |
- |
8,264.0 |
8,340.8 |
8,159.5 |
7,704.1 |
|
Accumulated Depreciation |
- |
-5,681.9 |
-5,718.0 |
-5,530.0 |
-5,173.2 |
|
Property/Plant/Equipment - Net |
2,637.8 |
2,582.1 |
2,622.8 |
2,629.5 |
2,530.9 |
|
Goodwill, Net |
2,075.6 |
2,057.9 |
2,134.6 |
2,111.3 |
2,024.0 |
|
Intangibles, Net |
107.4 |
102.1 |
104.1 |
106.1 |
102.3 |
|
LT Investments - Other |
1,174.0 |
1,180.1 |
1,275.9 |
1,189.7 |
1,131.0 |
|
Long Term Investments |
1,174.0 |
1,180.1 |
1,275.9 |
1,189.7 |
1,131.0 |
|
Other Long Term Assets |
544.3 |
513.4 |
483.4 |
535.6 |
510.5 |
|
Other Long Term Assets, Total |
544.3 |
513.4 |
483.4 |
535.6 |
510.5 |
|
Total Assets |
14,345.3 |
13,664.3 |
13,794.1 |
13,462.1 |
12,566.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,579.1 |
1,410.5 |
1,295.8 |
1,194.0 |
1,108.5 |
|
Notes Payable/Short Term Debt |
1,090.8 |
892.6 |
1,116.1 |
1,024.2 |
1,043.5 |
|
Current Portion - Long Term Debt/Capital Leases |
25.2 |
44.5 |
162.0 |
157.4 |
148.7 |
|
Income Taxes Payable |
145.4 |
143.1 |
127.3 |
133.8 |
111.6 |
|
Other Current Liabilities |
1,427.9 |
1,464.5 |
1,333.2 |
1,342.8 |
1,204.4 |
|
Other Current liabilities, Total |
1,573.3 |
1,607.6 |
1,460.6 |
1,476.6 |
1,316.0 |
|
Total Current Liabilities |
4,268.3 |
3,955.2 |
4,034.5 |
3,852.2 |
3,616.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
3,628.7 |
3,533.4 |
3,629.0 |
3,528.3 |
3,342.3 |
|
Capital Lease Obligations |
- |
23.7 |
- |
- |
- |
|
Total Long Term Debt |
3,628.7 |
3,557.1 |
3,629.0 |
3,528.3 |
3,342.3 |
|
Total Debt |
4,744.6 |
4,494.2 |
4,907.1 |
4,709.9 |
4,534.5 |
|
|
|
|
|
|
|
|
Minority Interest |
154.7 |
141.9 |
156.5 |
166.0 |
153.6 |
|
Pension Benefits - Underfunded |
48.7 |
47.6 |
51.1 |
51.4 |
49.0 |
|
Other Long Term Liabilities |
100.4 |
60.4 |
94.2 |
93.7 |
83.2 |
|
Other Liabilities, Total |
149.1 |
108.0 |
145.3 |
145.1 |
132.2 |
|
Total Liabilities |
8,200.7 |
7,762.2 |
7,965.3 |
7,691.5 |
7,244.9 |
|
|
|
|
|
|
|
|
Common Stock |
1,052.9 |
1,026.0 |
1,048.4 |
1,017.9 |
960.9 |
|
Common Stock |
1,052.9 |
1,026.0 |
1,048.4 |
1,017.9 |
960.9 |
|
Additional Paid-In Capital |
1,043.1 |
1,016.8 |
1,039.0 |
1,008.7 |
949.0 |
|
Retained Earnings (Accumulated Deficit) |
4,865.8 |
4,654.4 |
4,657.1 |
4,508.2 |
4,269.1 |
|
Treasury Stock - Common |
-77.1 |
-66.0 |
-67.5 |
-65.5 |
-61.8 |
|
Unrealized Gain (Loss) |
32.3 |
54.9 |
58.7 |
27.6 |
-118.5 |
|
Translation Adjustment |
-772.4 |
-783.9 |
-907.0 |
-726.4 |
-677.5 |
|
Other Equity, Total |
-772.4 |
-783.9 |
-907.0 |
-726.4 |
-677.5 |
|
Total Equity |
6,144.6 |
5,902.1 |
5,828.8 |
5,770.6 |
5,321.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
14,345.3 |
13,664.3 |
13,794.1 |
13,462.1 |
12,566.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
291.4 |
291.7 |
291.7 |
291.7 |
291.7 |
|
Total Common Shares Outstanding |
291.4 |
291.7 |
291.7 |
291.7 |
291.7 |
|
Treasury Shares - Common Stock Primary Issue |
1.7 |
1.5 |
1.5 |
1.5 |
1.5 |
|
Employees |
- |
41,569 |
41,437 |
40,099 |
39,092 |
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 with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
533.4 |
409.0 |
457.5 |
1,033.5 |
710.8 |
|
Depreciation |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Depreciation/Depletion |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Amortization of Acquisition Costs |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Amortization |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Unusual Items |
328.2 |
49.4 |
44.5 |
28.7 |
-37.8 |
|
Equity in Net Earnings (Loss) |
-15.6 |
-3.7 |
-5.3 |
-6.5 |
-5.0 |
|
Other Non-Cash Items |
20.1 |
27.9 |
29.9 |
40.6 |
9.5 |
|
Non-Cash Items |
332.7 |
73.5 |
69.1 |
62.8 |
-33.4 |
|
Accounts Receivable |
-281.5 |
4.2 |
204.0 |
-146.2 |
-77.1 |
|
Inventories |
-285.9 |
355.6 |
-38.7 |
-240.9 |
-181.9 |
|
Prepaid Expenses |
13.8 |
19.8 |
-8.9 |
-6.2 |
-107.7 |
|
Accounts Payable |
256.6 |
131.4 |
-317.4 |
36.7 |
159.6 |
|
Other Operating Cash Flow |
-257.6 |
-167.1 |
-313.6 |
-284.9 |
-49.8 |
|
Changes in Working Capital |
-554.5 |
343.8 |
-474.6 |
-641.6 |
-256.9 |
|
Cash from Operating Activities |
915.0 |
1,390.4 |
618.5 |
904.1 |
716.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-286.8 |
-322.6 |
-610.9 |
-414.2 |
-364.0 |
|
Capital Expenditures |
-286.8 |
-322.6 |
-610.9 |
-414.2 |
-364.0 |
|
Acquisition of Business |
0.0 |
-5.0 |
-7.3 |
0.0 |
- |
|
Sale of Fixed Assets |
10.1 |
23.1 |
4.4 |
20.4 |
6.6 |
|
Sale/Maturity of Investment |
10.5 |
0.4 |
0.0 |
0.2 |
3.3 |
|
Purchase of Investments |
-7.2 |
-123.7 |
-344.5 |
-252.6 |
-2,253.8 |
|
Other Investing Cash Flow |
1.4 |
-0.9 |
-30.0 |
-22.4 |
-2.3 |
|
Other Investing Cash Flow Items, Total |
14.8 |
-106.1 |
-377.4 |
-254.5 |
-2,246.2 |
|
Cash from Investing Activities |
-272.0 |
-428.7 |
-988.2 |
-668.6 |
-2,610.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-41.7 |
-57.2 |
-48.3 |
-37.5 |
-19.0 |
|
Financing Cash Flow Items |
-41.7 |
-57.2 |
-48.3 |
-37.5 |
-19.0 |
|
Cash Dividends Paid - Common |
-115.7 |
-109.9 |
-110.4 |
-80.8 |
-56.2 |
|
Total Cash Dividends Paid |
-115.7 |
-109.9 |
-110.4 |
-80.8 |
-56.2 |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
991.4 |
0.0 |
|
Common Stock, Net |
- |
- |
0.0 |
991.4 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
0.0 |
991.4 |
0.0 |
|
Short Term Debt, Net |
-133.5 |
-1,168.6 |
664.1 |
-2,125.8 |
2,172.8 |
|
Long Term Debt Issued |
9.8 |
1,291.5 |
112.0 |
1,440.8 |
35.3 |
|
Long Term Debt
Reduction |
-157.8 |
-331.6 |
-135.9 |
-158.6 |
-29.5 |
|
Long Term Debt, Net |
-148.1 |
959.8 |
-23.9 |
1,282.2 |
5.8 |
|
Issuance (Retirement) of Debt, Net |
-281.6 |
-208.8 |
640.2 |
-843.6 |
2,178.6 |
|
Cash from Financing Activities |
-439.0 |
-375.9 |
481.5 |
29.5 |
2,103.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-110.9 |
4.1 |
-173.1 |
-21.5 |
34.3 |
|
Net Change in Cash |
93.1 |
589.8 |
-61.3 |
243.4 |
243.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,859.2 |
1,124.4 |
1,099.5 |
723.2 |
463.3 |
|
Net Cash - Ending Balance |
1,952.3 |
1,714.2 |
1,038.2 |
966.6 |
706.8 |
|
Cash Interest Paid |
77.4 |
71.4 |
81.1 |
101.9 |
- |
|
Cash Taxes Paid |
257.2 |
151.8 |
318.0 |
342.1 |
207.5 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.605269 |
85.691434 |
86.812446 |
88.962162 |
92.080323 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
249.1 |
533.4 |
364.1 |
175.8 |
167.1 |
|
Depreciation |
111.6 |
465.3 |
340.6 |
219.0 |
104.8 |
|
Depreciation/Depletion |
111.6 |
465.3 |
340.6 |
219.0 |
104.8 |
|
Amortization of Acquisition Costs |
36.3 |
138.2 |
102.4 |
66.5 |
32.2 |
|
Amortization |
36.3 |
138.2 |
102.4 |
66.5 |
32.2 |
|
Unusual Items |
1.3 |
328.2 |
262.3 |
265.4 |
0.6 |
|
Equity in Net Earnings (Loss) |
-12.8 |
-15.6 |
-9.9 |
-4.2 |
-0.2 |
|
Other Non-Cash Items |
-5.7 |
20.1 |
12.4 |
8.2 |
-2.2 |
|
Non-Cash Items |
-17.1 |
332.7 |
264.8 |
269.4 |
-1.9 |
|
Accounts Receivable |
-104.4 |
-281.5 |
-148.5 |
-98.6 |
-143.3 |
|
Inventories |
-294.6 |
-285.9 |
-252.3 |
-49.7 |
-125.2 |
|
Prepaid Expenses |
2.8 |
13.8 |
8.5 |
4.9 |
3.0 |
|
Accounts Payable |
122.1 |
256.6 |
135.7 |
38.4 |
39.4 |
|
Other Operating Cash Flow |
-199.7 |
-257.6 |
-290.3 |
-138.2 |
-178.3 |
|
Changes in Working Capital |
-473.7 |
-554.5 |
-546.9 |
-243.4 |
-404.4 |
|
Cash from Operating Activities |
-93.9 |
915.0 |
525.1 |
487.3 |
-102.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-107.1 |
-286.8 |
-182.9 |
-118.7 |
-48.3 |
|
Capital Expenditures |
-107.1 |
-286.8 |
-182.9 |
-118.7 |
-48.3 |
|
Acquisition of Business |
-4.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sale of Fixed Assets |
1.9 |
10.1 |
7.9 |
5.9 |
1.0 |
|
Sale/Maturity of Investment |
0.0 |
10.5 |
5.3 |
0.1 |
0.1 |
|
Investment, Net |
- |
- |
0.0 |
0.0 |
- |
|
Purchase of Investments |
-0.3 |
-7.2 |
-5.8 |
-0.3 |
-0.2 |
|
Other Investing Cash Flow |
2.0 |
1.4 |
-4.3 |
2.0 |
1.2 |
|
Other Investing Cash Flow Items, Total |
-0.4 |
14.8 |
3.1 |
7.6 |
2.1 |
|
Cash from Investing Activities |
-107.5 |
-272.0 |
-179.8 |
-111.0 |
-46.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-16.2 |
-41.7 |
-35.2 |
-24.5 |
-5.5 |
|
Financing Cash Flow Items |
-16.2 |
-41.7 |
-35.2 |
-24.5 |
-5.5 |
|
Cash Dividends Paid - Common |
-64.3 |
-115.7 |
-114.2 |
-52.4 |
-50.7 |
|
Total Cash Dividends Paid |
-64.3 |
-115.7 |
-114.2 |
-52.4 |
-50.7 |
|
Short Term Debt, Net |
172.4 |
-133.5 |
66.4 |
-9.3 |
55.4 |
|
Long Term Debt Issued |
2.4 |
9.8 |
6.5 |
4.4 |
1.5 |
|
Long Term Debt
Reduction |
-3.9 |
-157.8 |
-11.9 |
-11.2 |
-4.9 |
|
Long Term Debt, Net |
-1.5 |
-148.1 |
-5.4 |
-6.7 |
-3.4 |
|
Issuance (Retirement) of Debt, Net |
170.9 |
-281.6 |
61.0 |
-16.0 |
52.0 |
|
Cash from Financing Activities |
90.4 |
-439.0 |
-88.4 |
-93.0 |
-4.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
20.5 |
-110.9 |
-130.0 |
-67.2 |
-33.5 |
|
Net Change in Cash |
-90.6 |
93.1 |
126.8 |
216.1 |
-186.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2,050.1 |
1,859.2 |
1,835.3 |
1,790.9 |
1,730.3 |
|
Net Cash - Ending Balance |
1,959.5 |
1,952.3 |
1,962.0 |
2,007.0 |
1,544.2 |
|
Cash Interest Paid |
16.0 |
77.4 |
53.9 |
37.5 |
14.9 |
|
Cash Taxes Paid |
87.6 |
257.2 |
162.6 |
97.6 |
53.6 |
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 with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
Total Revenue |
13,540.8 |
11,017.3 |
11,966.2 |
11,295.3 |
7,796.4 |
|
|
|
|
|
|
|
|
Cost of Sales |
9,320.3 |
7,581.8 |
8,347.2 |
7,432.3 |
5,122.6 |
|
Sales Promotion/Advertisement |
427.2 |
343.9 |
379.4 |
406.0 |
291.1 |
|
Delivery Expenses |
401.3 |
327.2 |
368.6 |
355.9 |
258.2 |
|
Provision for Doubtful Accounts |
11.7 |
6.7 |
14.2 |
4.0 |
12.8 |
|
Reserve for Product Warranty |
253.5 |
238.6 |
173.1 |
165.9 |
148.1 |
|
Director/Employee Salary |
1,024.3 |
920.0 |
909.6 |
772.6 |
571.7 |
|
Provision for director bonuses |
1.6 |
1.3 |
1.4 |
1.7 |
1.3 |
|
Accrued Retirement |
39.8 |
44.6 |
29.0 |
16.9 |
37.9 |
|
Depreciation |
75.8 |
71.7 |
69.4 |
47.6 |
39.5 |
|
Research&Development |
179.5 |
149.0 |
164.0 |
142.6 |
101.8 |
|
Amort. of Goodwill |
138.2 |
130.3 |
120.6 |
108.0 |
- |
|
Other SGA |
787.0 |
728.3 |
778.8 |
721.0 |
520.9 |
|
SP Partial completion accured retire |
- |
- |
- |
0.0 |
-5.8 |
|
SP Insurance Income from Warehouse Fire |
- |
- |
- |
- |
0.0 |
|
SP G on reversal of subscription rights |
-0.5 |
-0.1 |
0.0 |
- |
- |
|
SP G on extinguishment of tie-in shares |
-5.0 |
0.0 |
- |
- |
- |
|
SP Other special gain |
0.0 |
0.0 |
0.0 |
- |
- |
|
SP Loss Retir.Fix.Asset |
- |
- |
- |
- |
7.4 |
|
SP Impairment Loss |
- |
- |
- |
- |
0.0 |
|
SP Loss Val. Invest.Sec |
313.4 |
39.1 |
27.6 |
21.3 |
0.2 |
|
SP Withdrawal from Parking Lot Business |
- |
- |
- |
- |
0.0 |
|
SP L on completion of pension plan |
1.7 |
0.0 |
12.2 |
0.0 |
- |
|
SP L on cancel of lease contracts |
0.0 |
11.2 |
0.0 |
- |
- |
|
SP Loss on disaster |
12.9 |
0.0 |
- |
- |
- |
|
SP Other special loss |
2.2 |
1.5 |
3.3 |
2.6 |
0.0 |
|
NOP Gain on valuation of derivatives |
-0.6 |
-12.2 |
0.0 |
- |
- |
|
Total Operating Expense |
12,984.3 |
10,583.0 |
11,398.3 |
10,198.5 |
7,107.7 |
|
|
|
|
|
|
|
|
NOP Interest Income |
27.5 |
23.7 |
23.7 |
23.1 |
13.0 |
|
NOP Dividend Income |
21.0 |
18.6 |
21.8 |
16.9 |
9.4 |
|
NOP Invest.Income-Equity |
15.6 |
3.7 |
5.3 |
6.5 |
5.0 |
|
NOP G-Exchange Rate |
0.0 |
10.2 |
0.0 |
0.0 |
5.9 |
|
NOP Tariffs tax refund income |
14.2 |
0.7 |
- |
- |
- |
|
NOP Other Non-Op.Income |
36.9 |
45.2 |
42.4 |
40.4 |
25.6 |
|
NOP Interest Expense |
-72.7 |
-72.3 |
-70.0 |
-88.9 |
-51.9 |
|
NOP Exchange Loss |
-16.1 |
0.0 |
-55.3 |
-3.9 |
0.0 |
|
NOP Other Non-Op.Expense |
-34.7 |
-44.9 |
-61.4 |
-50.0 |
-28.2 |
|
SP Gain Sale of Land |
- |
- |
0.0 |
0.2 |
0.1 |
|
SP Gain Sale Inv. Secs. |
0.0 |
0.1 |
0.0 |
0.1 |
3.0 |
|
SP Gain Sale Inv.F.Affi |
- |
- |
- |
0.0 |
0.1 |
|
SP L on disp.fixed assets |
-7.7 |
-10.4 |
-17.0 |
-7.7 |
- |
|
SP Transfer of parking business |
- |
- |
- |
0.0 |
6.0 |
|
SP Hedge foreign exchange affiliate |
- |
- |
- |
0.0 |
36.3 |
|
SP Loss Sale Inv. Sec. |
-7.2 |
0.0 |
- |
- |
- |
|
SP Loss Liquid.Affiliat |
- |
- |
- |
0.0 |
-2.2 |
|
Net Income Before Taxes |
533.4 |
409.0 |
457.5 |
1,033.5 |
710.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
257.5 |
171.2 |
210.9 |
351.1 |
297.5 |
|
Net Income After Taxes |
275.9 |
237.8 |
246.7 |
682.5 |
413.3 |
|
|
|
|
|
|
|
|
Minor. Interest |
-44.0 |
-29.1 |
-30.1 |
-27.9 |
-24.9 |
|
Net Income Before Extra. Items |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
Net Income |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Bonus |
- |
- |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
291.7 |
291.9 |
292.0 |
285.3 |
263.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Basic EPS Including ExtraOrdinary Item |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
231.9 |
208.6 |
216.5 |
654.6 |
388.4 |
|
Diluted Weighted Average Shares |
291.7 |
291.9 |
292.0 |
285.5 |
263.2 |
|
Diluted EPS Excluding ExtraOrd Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
Diluted EPS Including ExtraOrd Items |
0.80 |
0.71 |
0.74 |
2.29 |
1.48 |
|
DPS-Common Stock |
0.42 |
0.34 |
0.38 |
0.33 |
0.24 |
|
Gross Dividends - Common Stock |
122.5 |
100.5 |
110.4 |
97.1 |
63.0 |
|
Normalized Income Before Taxes |
1,003.3 |
589.1 |
638.2 |
1,173.0 |
722.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
417.6 |
192.1 |
238.5 |
361.7 |
296.6 |
|
Normalized Income After Taxes |
585.7 |
397.1 |
399.7 |
811.2 |
426.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
541.6 |
367.9 |
369.5 |
783.3 |
401.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.86 |
1.26 |
1.27 |
2.75 |
1.53 |
|
Diluted Normalized EPS |
1.86 |
1.26 |
1.27 |
2.74 |
1.52 |
|
Advertising Exp. |
427.2 |
343.9 |
379.4 |
406.0 |
291.1 |
|
R&D Exp. (SGA) |
179.5 |
149.0 |
164.0 |
142.6 |
101.8 |
|
R&D Exp. (COGS) |
179.6 |
154.7 |
139.9 |
138.0 |
130.8 |
|
Interest Expense |
72.7 |
72.3 |
70.0 |
88.9 |
51.9 |
|
Amort. of Goodwill |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Depreciation |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Reported Operating Profit |
880.5 |
473.8 |
611.0 |
1,120.7 |
690.5 |
|
Reported Ordinary Profit |
872.9 |
470.9 |
517.6 |
1,064.8 |
669.4 |
|
Service Cost |
37.0 |
33.8 |
30.6 |
26.1 |
23.1 |
|
Interest Cost |
22.5 |
21.2 |
24.8 |
21.8 |
11.5 |
|
Expected Return on Plan Assets |
-25.1 |
-21.0 |
-26.9 |
-27.4 |
-14.5 |
|
Pension Exp. due to Acct. Changes |
- |
- |
- |
- |
23.7 |
|
Prior Service Cost |
-0.4 |
-0.4 |
-0.2 |
-0.3 |
-0.3 |
|
Actuarial Gains and Losses |
16.1 |
20.7 |
5.9 |
-2.7 |
-0.7 |
|
Transit. L. to Defined Contribution Plan |
- |
- |
12.2 |
- |
-5.8 |
|
Domestic Pension Plan Expense |
50.1 |
54.3 |
46.2 |
17.5 |
37.0 |
|
Defined Contribution Expense |
26.5 |
32.7 |
22.8 |
16.5 |
9.6 |
|
Total Pension Expense |
76.6 |
87.0 |
69.0 |
34.0 |
46.6 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expected Rate of Return |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
Interim Income Statement
As
Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.605269 |
82.241044 |
82.567473 |
85.838925 |
92.080323 |
|
|
|
|
|
|
|
|
Net sales |
3,648.4 |
3,767.0 |
3,385.9 |
3,611.9 |
2,833.6 |
|
Total Revenue |
3,648.4 |
3,767.0 |
3,385.9 |
3,611.9 |
2,833.6 |
|
|
|
|
|
|
|
|
Cost of Sales |
2,508.6 |
2,612.8 |
2,351.9 |
2,477.6 |
1,921.3 |
|
Selling, general and administrative exp. |
889.6 |
- |
- |
- |
- |
|
Prov. for doubtful accounts(SGA) |
- |
3.9 |
3.0 |
3.6 |
1.3 |
|
Prov. for product warrants |
- |
4.8 |
- |
27.6 |
205.9 |
|
Salary |
- |
278.8 |
262.6 |
252.1 |
233.7 |
|
Accured retirement |
- |
11.6 |
10.5 |
9.8 |
8.2 |
|
Amort. of goodwill |
- |
35.9 |
36.0 |
34.4 |
32.2 |
|
Other SGA |
- |
587.2 |
528.4 |
519.1 |
260.4 |
|
SP G on extinguishment of tie-in shares |
0.0 |
0.0 |
- |
- |
-4.7 |
|
SP Reversal G. on new stock subscription |
-0.3 |
0.0 |
- |
-0.3 |
-0.2 |
|
SP Rever. G. on val. of Invest.Sec.Loss |
- |
- |
-15.9 |
- |
- |
|
SP Other Special Gains |
- |
0.0 |
- |
0.0 |
0.0 |
|
SP Impairment Loss |
4.4 |
- |
- |
- |
0.0 |
|
SP Loss Val. Invest.Sec |
0.2 |
57.7 |
0.0 |
272.9 |
0.0 |
|
SP Other special loss |
0.0 |
13.3 |
0.3 |
1.7 |
0.1 |
|
NOP Loss on Legal Settlements |
- |
- |
8.6 |
- |
- |
|
Total Operating Expense |
3,402.4 |
3,606.1 |
3,185.4 |
3,598.4 |
2,658.3 |
|
|
|
|
|
|
|
|
NOP Interest Income |
9.3 |
14.9 |
6.6 |
6.9 |
5.6 |
|
NOP Dividend Income |
14.6 |
0.9 |
7.3 |
- |
12.2 |
|
NOP Inv. Income-Equity |
12.8 |
- |
- |
- |
0.2 |
|
NOP G-Exchange Rate |
- |
7.5 |
- |
- |
- |
|
NOP Other Non-Op.Income |
7.9 |
18.1 |
17.1 |
13.8 |
12.4 |
|
NOP Interest Expense |
-18.5 |
-19.3 |
-18.3 |
-18.5 |
-16.8 |
|
NOP Exchange Loss |
-13.1 |
- |
-8.2 |
0.0 |
-14.3 |
|
NOP Other Non-Op.Expense |
-8.7 |
-4.1 |
-3.9 |
-11.1 |
-7.0 |
|
SP Gain Sale of Land |
- |
- |
0.0 |
- |
- |
|
SP Gain Sale Inv. Secs. |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
SP Loss Liquid.Affiliat |
- |
- |
-1.9 |
- |
- |
|
SP L on disp.fixed assets |
-1.2 |
-3.6 |
-2.1 |
-1.6 |
-0.5 |
|
SP Loss Sale Inv. Secs. |
- |
-3.9 |
-3.6 |
- |
- |
|
Net Income Before Taxes |
249.2 |
171.4 |
193.4 |
3.0 |
167.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
89.7 |
62.6 |
104.7 |
3.1 |
86.9 |
|
Net Income After Taxes |
159.5 |
108.8 |
88.7 |
-0.1 |
80.2 |
|
|
|
|
|
|
|
|
Minor. Interest |
-6.8 |
-10.8 |
-11.8 |
-13.3 |
-8.2 |
|
Net Income Before Extra. Items |
152.7 |
98.0 |
76.9 |
-13.4 |
72.0 |
|
Net Income |
152.7 |
98.0 |
76.9 |
-13.4 |
72.0 |
|
|
|
|
|
|
|
|
Adjustment |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
152.7 |
98.0 |
76.8 |
-13.5 |
71.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
152.7 |
98.0 |
76.8 |
-13.5 |
71.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
291.5 |
291.7 |
291.7 |
291.7 |
291.7 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.52 |
0.34 |
0.26 |
-0.05 |
0.25 |
|
Basic EPS Including ExtraOrdinary Item |
0.52 |
0.34 |
0.26 |
-0.05 |
0.25 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
152.7 |
98.0 |
76.8 |
-13.5 |
71.9 |
|
Diluted Weighted Average Shares |
291.5 |
291.7 |
291.7 |
291.7 |
291.7 |
|
Diluted EPS Excluding ExtraOrd Items |
0.52 |
0.34 |
0.26 |
-0.05 |
0.25 |
|
Diluted EPS Including ExtraOrd Items |
0.52 |
0.34 |
0.26 |
-0.05 |
0.25 |
|
DPS-Common Stock |
0.00 |
0.22 |
0.00 |
0.21 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
63.8 |
0.0 |
61.2 |
0.0 |
|
Normalized Income Before Taxes |
290.8 |
281.8 |
226.5 |
313.2 |
195.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
91.6 |
89.9 |
103.2 |
99.6 |
84.8 |
|
Normalized Income After Taxes |
199.2 |
191.9 |
123.4 |
213.6 |
110.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
192.4 |
181.2 |
111.5 |
200.2 |
102.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.66 |
0.62 |
0.38 |
0.69 |
0.35 |
|
Diluted Normalized EPS |
0.66 |
0.62 |
0.38 |
0.69 |
0.35 |
|
Interest Expense |
18.5 |
19.3 |
18.3 |
18.5 |
16.8 |
|
Depreciation |
111.6 |
125.3 |
122.2 |
114.6 |
104.8 |
|
Amort. of Goodwill |
36.3 |
35.9 |
36.0 |
34.4 |
32.2 |
|
Reported operating profit |
250.2 |
231.9 |
193.5 |
287.7 |
170.6 |
|
Reported ordinary profit |
254.5 |
249.9 |
185.5 |
278.8 |
162.9 |
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 with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash&Deposits |
2,023.6 |
1,712.7 |
1,065.5 |
1,121.8 |
710.7 |
|
Note&Acct.Rcvbl. |
2,400.1 |
1,938.5 |
1,804.7 |
2,272.5 |
1,775.7 |
|
Inventories |
- |
- |
- |
- |
1,797.5 |
|
Merchandise & Finished goods |
1,466.1 |
1,197.2 |
1,354.1 |
1,480.0 |
- |
|
Work-in-progress |
510.0 |
448.0 |
450.0 |
510.5 |
- |
|
Raw materials & Supplies |
458.5 |
336.4 |
389.3 |
386.0 |
- |
|
Deferred Tax |
117.3 |
113.1 |
99.0 |
134.3 |
107.6 |
|
Other Curr.Asset |
312.8 |
270.9 |
273.6 |
284.5 |
215.2 |
|
Allow.Doubt.Acct |
-59.7 |
-54.4 |
-51.7 |
-54.8 |
-54.0 |
|
Total Current Assets |
7,228.6 |
5,962.4 |
5,384.5 |
6,134.9 |
4,552.7 |
|
|
|
|
|
|
|
|
Bldg.&Structures |
857.0 |
824.6 |
733.9 |
658.3 |
540.8 |
|
Mach.&Vehicles |
1,003.5 |
1,030.7 |
1,001.6 |
1,091.9 |
891.1 |
|
Land |
367.7 |
316.9 |
281.7 |
287.8 |
241.4 |
|
Lease assets, net |
36.6 |
27.7 |
23.9 |
0.0 |
- |
|
Constr.-in-Progr |
101.0 |
99.3 |
221.6 |
191.6 |
172.2 |
|
Other PP&E |
216.3 |
212.0 |
198.3 |
213.2 |
172.8 |
|
Goodwill |
2,057.9 |
1,957.1 |
1,958.1 |
2,016.7 |
1,782.8 |
|
Consolid.Adjust. |
- |
- |
- |
- |
0.0 |
|
Other Intangible |
102.1 |
101.0 |
95.2 |
71.6 |
64.6 |
|
Investment Secs. |
1,127.0 |
1,205.5 |
955.2 |
1,218.2 |
1,164.2 |
|
Equity secs.-nonconsol affil.&sub. |
53.1 |
46.9 |
- |
- |
- |
|
Inv't partnership-nonconsol.affil.&subs. |
97.6 |
84.2 |
- |
- |
- |
|
LT Loans |
11.8 |
12.1 |
11.5 |
9.4 |
9.8 |
|
Deferred Tax |
181.3 |
103.9 |
192.0 |
51.6 |
74.0 |
|
Prepaid pension benefits |
- |
- |
- |
- |
108.0 |
|
Other Assets |
235.5 |
223.4 |
266.1 |
222.1 |
70.7 |
|
Allow.Doubt.Acct |
-12.8 |
-11.1 |
-10.4 |
-9.9 |
-9.4 |
|
Total Assets |
13,664.3 |
12,196.6 |
11,313.2 |
12,157.4 |
9,835.8 |
|
|
|
|
|
|
|
|
Note&Acct. Pay. |
1,410.5 |
1,045.9 |
811.4 |
1,288.0 |
1,031.8 |
|
ST Debt |
831.3 |
746.3 |
758.1 |
743.0 |
2,437.3 |
|
Commercial Paper |
61.3 |
181.9 |
1,214.9 |
582.7 |
753.8 |
|
Cur. Port., LTD |
28.0 |
143.2 |
95.4 |
88.5 |
91.1 |
|
Lease liability |
16.5 |
15.3 |
12.5 |
0.0 |
- |
|
Curr.Port.Bond |
- |
0.0 |
202.5 |
0.0 |
- |
|
Corp.Tax Payable |
143.1 |
86.8 |
88.5 |
135.9 |
115.0 |
|
Deferred Tax |
29.5 |
10.4 |
0.0 |
14.4 |
5.5 |
|
Reserve for directors' bonuses |
1.7 |
1.3 |
1.4 |
1.9 |
1.3 |
|
Accrued Expense |
605.9 |
523.9 |
486.3 |
569.3 |
415.5 |
|
Res.Prod.Warran. |
262.1 |
237.4 |
176.1 |
190.6 |
146.7 |
|
Other Cur. Liab. |
565.3 |
448.6 |
497.6 |
535.4 |
408.6 |
|
Total Current Liabilities |
3,955.2 |
3,441.0 |
4,344.6 |
4,149.6 |
5,406.5 |
|
|
|
|
|
|
|
|
Corp. Bond |
1,206.6 |
1,070.2 |
0.0 |
200.9 |
169.4 |
|
Long Term Debt |
2,326.8 |
2,099.8 |
1,931.5 |
1,970.8 |
411.1 |
|
Lease liability |
23.7 |
16.7 |
16.2 |
0.0 |
- |
|
Total Long Term Debt |
3,557.1 |
3,186.8 |
1,947.8 |
2,171.8 |
580.4 |
|
|
|
|
|
|
|
|
Deferred Tax |
29.7 |
28.3 |
12.8 |
71.6 |
211.5 |
|
Res.Accrd.Retir. |
47.6 |
47.8 |
39.9 |
43.1 |
43.7 |
|
LT Payables |
14.3 |
18.7 |
58.4 |
90.0 |
114.4 |
|
Other LT liabilities |
16.5 |
15.2 |
4.5 |
5.3 |
7.3 |
|
Minor. Interest |
141.9 |
137.7 |
121.8 |
138.9 |
103.2 |
|
Total Liabilities |
7,762.2 |
6,875.6 |
6,529.9 |
6,670.3 |
6,467.1 |
|
|
|
|
|
|
|
|
Common Stock |
1,026.0 |
910.0 |
860.9 |
854.3 |
237.3 |
|
Paid in Capital |
1,001.2 |
888.0 |
840.1 |
833.6 |
219.9 |
|
Retained Earning |
4,654.4 |
4,023.5 |
3,714.0 |
3,531.4 |
2,421.7 |
|
Treasury Stock |
-66.0 |
-59.2 |
-48.0 |
-35.2 |
-20.0 |
|
Unrealized Gain |
56.0 |
-5.4 |
-155.9 |
101.5 |
286.1 |
|
Deferred hedge gain/loss |
-1.1 |
1.7 |
4.7 |
3.7 |
-0.2 |
|
Translation Adj. |
-783.9 |
-448.6 |
-440.2 |
192.5 |
222.1 |
|
Stock subscription |
15.6 |
10.9 |
7.7 |
5.2 |
1.9 |
|
Total Equity |
5,902.1 |
5,321.0 |
4,783.3 |
5,487.1 |
3,368.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
13,664.3 |
12,196.6 |
11,313.3 |
12,157.4 |
9,835.8 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
291.7 |
291.6 |
291.9 |
292.1 |
263.0 |
|
Total Common Shares Outstanding |
291.7 |
291.6 |
291.9 |
292.1 |
263.0 |
|
T/S-Common Stock |
1.5 |
1.5 |
1.2 |
1.0 |
0.8 |
|
Full-Time Employees |
41,569 |
38,874 |
39,896 |
36,300 |
33,480 |
|
Number of Common Shareholders |
48,191 |
33,788 |
36,928 |
28,466 |
14,112 |
|
LT Debt, mat. within 1 yr. |
28.0 |
143.2 |
297.8 |
88.5 |
91.1 |
|
LT Debt, mat. b/w 1 & 2 yr. |
689.6 |
26.1 |
134.4 |
287.4 |
83.9 |
|
LT Debt, mat. b/w 2 & 3 yr. |
127.6 |
609.5 |
84.4 |
158.1 |
272.3 |
|
LT Debt, mat. b/w 3 & 4 yr. |
965.6 |
123.6 |
558.1 |
84.8 |
120.9 |
|
LT Debt, mat. b/w 4 & 5 yr. |
125.8 |
856.9 |
90.8 |
585.7 |
101.9 |
|
Other LT Debt. |
1,624.8 |
1,553.8 |
1,063.8 |
1,055.8 |
1.4 |
|
Total Long Term Debt, Supplemental |
3,561.4 |
3,313.2 |
2,229.4 |
2,260.3 |
671.5 |
|
Capital Lease Maturing Within 1 Yr |
16.5 |
15.3 |
12.5 |
- |
- |
|
Capital Lease Maturing Within 2 Yr |
10.8 |
7.2 |
5.9 |
- |
- |
|
Capital Lease Maturing Within 3 Yr |
7.3 |
5.6 |
4.8 |
- |
- |
|
Capital Lease Maturing Within 4 Yr |
4.0 |
3.0 |
3.7 |
- |
- |
|
Capital Lease Maturing Within 5 Yr |
1.0 |
0.8 |
1.5 |
- |
- |
|
Capital Lease-Remaining |
0.5 |
0.2 |
0.4 |
- |
- |
|
Total Capital Leases |
40.2 |
32.0 |
28.8 |
- |
- |
|
Pension Obligation |
830.3 |
739.2 |
652.2 |
752.5 |
632.1 |
|
Fair Value of Plan Assets |
797.9 |
720.8 |
601.1 |
810.0 |
756.3 |
|
Funded Status |
-32.4 |
-18.3 |
-51.2 |
57.5 |
124.2 |
|
Total Funded Status |
-32.4 |
-18.3 |
-51.2 |
57.5 |
124.2 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expected Rate of Return |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Unrecognized Prior Service Cost |
-0.9 |
-2.3 |
-2.8 |
-2.2 |
-2.1 |
|
Unrecognized Actuarial Gains and Losses |
119.4 |
104.1 |
157.0 |
36.9 |
-57.8 |
|
Prepaid Pension Benefits |
133.6 |
131.2 |
142.8 |
135.3 |
108.0 |
|
Reserve for Accrued Retirement Benefits |
-47.6 |
-47.8 |
-39.9 |
-43.1 |
-43.7 |
|
Net Assets Recognized on Balance Sheet |
204.5 |
185.1 |
257.1 |
127.0 |
4.5 |
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 |
1,982.8 |
2,023.6 |
2,105.3 |
2,142.4 |
1,611.6 |
|
Note&Acct. Rcvbl. |
2,581.1 |
2,400.1 |
2,278.9 |
2,224.1 |
2,144.8 |
|
Inventories - merchan.&finished goods |
1,625.0 |
1,466.1 |
1,405.4 |
1,263.3 |
1,259.3 |
|
Inventories - raw materials&supplies |
540.8 |
458.5 |
432.9 |
409.3 |
388.7 |
|
Inventories - work-in-process |
634.1 |
510.0 |
590.7 |
523.9 |
507.1 |
|
Other Cur. Assets |
505.3 |
430.2 |
419.1 |
386.3 |
411.4 |
|
Allowance for doubtful accounts |
-62.9 |
-59.7 |
-58.8 |
-59.3 |
-55.6 |
|
Total Current Assets |
7,806.1 |
7,228.6 |
7,173.4 |
6,889.9 |
6,267.3 |
|
|
|
|
|
|
|
|
Total PPE, gross |
- |
8,264.0 |
8,340.8 |
8,159.5 |
7,704.1 |
|
Total PPE-Depreciation |
- |
-5,681.9 |
-5,718.0 |
-5,530.0 |
-5,173.2 |
|
Total PPE |
2,637.8 |
- |
- |
- |
- |
|
Goodwill |
2,075.6 |
2,057.9 |
2,134.6 |
2,111.3 |
2,024.0 |
|
Other Intangibles |
107.4 |
102.1 |
104.1 |
106.1 |
102.3 |
|
Invest. Security |
1,174.0 |
1,180.1 |
1,275.9 |
1,189.7 |
1,131.0 |
|
Other |
557.4 |
526.1 |
497.2 |
547.4 |
521.5 |
|
Allowance for doubtful accounts |
-13.1 |
-12.8 |
-13.7 |
-11.7 |
-11.0 |
|
Adjustment |
- |
- |
0.0 |
- |
- |
|
Total Assets |
14,345.3 |
13,664.3 |
13,794.1 |
13,462.1 |
12,566.1 |
|
|
|
|
|
|
|
|
Note&Acct. Pybl. |
1,579.1 |
1,410.5 |
1,295.8 |
1,194.0 |
1,108.5 |
|
ST Borrowings |
824.7 |
831.3 |
895.9 |
845.6 |
817.2 |
|
Commercial Paper |
266.0 |
61.3 |
220.3 |
178.6 |
226.3 |
|
Cur. Port., LTD |
25.2 |
28.0 |
162.0 |
157.4 |
148.7 |
|
Lease liability |
- |
16.5 |
- |
- |
- |
|
Corp.Tax Pybls. |
145.4 |
143.1 |
127.3 |
133.8 |
111.6 |
|
Reserve for Warranty |
282.2 |
262.1 |
261.5 |
255.3 |
214.2 |
|
Other Cur. Liab. |
1,145.7 |
1,202.4 |
1,071.7 |
1,087.5 |
990.2 |
|
Total Current Liabilities |
4,268.3 |
3,955.2 |
4,034.5 |
3,852.2 |
3,616.8 |
|
|
|
|
|
|
|
|
Bonds payable |
1,238.2 |
1,206.6 |
1,233.0 |
1,197.0 |
1,130.1 |
|
Long Term Debt |
2,390.4 |
2,326.8 |
2,396.0 |
2,331.3 |
2,212.2 |
|
Lease liability |
- |
23.7 |
- |
- |
- |
|
Total Long Term Debt |
3,628.7 |
3,557.1 |
3,629.0 |
3,528.3 |
3,342.3 |
|
|
|
|
|
|
|
|
Res.Acrd.Retir.B'fit |
48.7 |
47.6 |
51.1 |
51.4 |
49.0 |
|
Other LT liabilities |
100.4 |
60.4 |
94.2 |
93.7 |
83.2 |
|
Minor. Interest |
154.7 |
141.9 |
156.5 |
166.0 |
153.6 |
|
Total Liabilities |
8,200.7 |
7,762.2 |
7,965.3 |
7,691.5 |
7,244.9 |
|
|
|
|
|
|
|
|
Common Stock |
1,052.9 |
1,026.0 |
1,048.4 |
1,017.9 |
960.9 |
|
Paid in Capital |
1,027.5 |
1,001.2 |
1,023.1 |
993.3 |
937.7 |
|
Retained Earnings |
4,865.8 |
4,654.4 |
4,657.1 |
4,508.2 |
4,269.1 |
|
Treasury Stock |
-77.1 |
-66.0 |
-67.5 |
-65.5 |
-61.8 |
|
Unrealized Gains Secs |
33.5 |
56.0 |
58.7 |
30.4 |
-123.8 |
|
Unrealized Gains Deferred Hadege |
-1.2 |
-1.1 |
0.0 |
-2.8 |
5.3 |
|
Translation Adj. |
-772.4 |
-783.9 |
-907.0 |
-726.4 |
-677.5 |
|
Stock subscription |
15.7 |
15.6 |
15.9 |
15.5 |
11.3 |
|
Total Equity |
6,144.6 |
5,902.1 |
5,828.8 |
5,770.6 |
5,321.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
14,345.3 |
13,664.3 |
13,794.1 |
13,462.1 |
12,566.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
291.4 |
291.7 |
291.7 |
291.7 |
291.7 |
|
Total Common Shares Outstanding |
291.4 |
291.7 |
291.7 |
291.7 |
291.7 |
|
T/S-Common Stock |
1.7 |
1.5 |
1.5 |
1.5 |
1.5 |
|
Full-Time Employees |
- |
41,569 |
41,437 |
40,099 |
39,092 |
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 with
Explanation |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income bf. Tax |
533.4 |
409.0 |
457.5 |
1,033.5 |
710.8 |
|
Depreciation |
465.3 |
433.7 |
446.0 |
341.4 |
281.5 |
|
Impairment Loss |
- |
- |
- |
- |
0.0 |
|
Amort. of Goodwill |
138.2 |
130.3 |
120.6 |
108.0 |
14.0 |
|
Allow.Doubt.Acct. |
1.6 |
-0.8 |
8.8 |
-8.6 |
2.7 |
|
Inter.&Div. Income |
-48.5 |
-42.3 |
-45.5 |
-40.0 |
-22.4 |
|
Interest Expense |
72.7 |
72.3 |
70.0 |
97.1 |
58.9 |
|
Inv. Income-Equity |
-15.6 |
-3.7 |
-5.3 |
-6.5 |
-5.0 |
|
G sale of land |
- |
- |
0.0 |
-0.2 |
-0.1 |
|
Gain/Loss Disp. PP&E |
7.7 |
10.4 |
17.0 |
7.7 |
7.4 |
|
G/L-Sale Inv. Secs. |
7.2 |
-0.1 |
0.0 |
-0.1 |
-3.0 |
|
G on sale of affiliated securities |
- |
- |
- |
0.0 |
-0.1 |
|
Exchange hedge - Purch. Affili. Stk. |
- |
- |
- |
0.0 |
-36.3 |
|
L-Val. Inv. Secs. |
313.4 |
39.1 |
27.6 |
21.3 |
0.2 |
|
Sale of Parking Lot maintenance Business |
- |
- |
- |
0.0 |
-6.0 |
|
Withdrawal from Parking Lot Business |
- |
- |
- |
- |
0.0 |
|
Insurance Income from Warehouse Fire |
- |
- |
- |
- |
0.0 |
|
Acct.Receivables |
-281.5 |
4.2 |
204.0 |
-146.2 |
-77.1 |
|
Inventories |
-285.9 |
355.6 |
-38.7 |
-240.9 |
-181.9 |
|
Acct. Payables |
302.0 |
173.8 |
-310.4 |
67.0 |
44.5 |
|
Reserve for retirement benefits |
-5.7 |
-1.2 |
-2.5 |
-8.1 |
-29.8 |
|
Prepaid pension benefits |
13.8 |
19.8 |
-8.9 |
-6.2 |
-107.7 |
|
Pension payable |
-45.4 |
-42.4 |
-7.0 |
-30.3 |
115.1 |
|
Bonus Paid Directors |
- |
- |
- |
0.0 |
-0.9 |
|
Other operating activities |
28.7 |
13.8 |
40.0 |
119.2 |
151.5 |
|
Inter.&Div. R'cvd. |
48.3 |
42.3 |
45.5 |
39.9 |
22.4 |
|
Interest Paid |
-77.4 |
-71.4 |
-81.1 |
-101.9 |
-57.5 |
|
Tax Paid |
-257.2 |
-151.8 |
-318.0 |
-342.1 |
-207.5 |
|
Spain Warehouse Fire Related Paid |
- |
- |
- |
- |
0.0 |
|
Sale of Parking Lot maintenance Business |
- |
- |
- |
0.0 |
6.0 |
|
Exchange hedge - Purch. Affili. Stk. |
- |
- |
- |
0.0 |
36.3 |
|
Cash Chg. due to FY Period Change |
- |
- |
-0.8 |
0.1 |
0.2 |
|
Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Cash from Operating Activities |
915.0 |
1,390.4 |
618.5 |
904.1 |
716.1 |
|
|
|
|
|
|
|
|
Time Deposit Made |
- |
- |
- |
- |
0.0 |
|
Capital Expenditure |
-286.8 |
-322.6 |
-610.9 |
-414.2 |
-364.0 |
|
Sale of PP&E |
10.1 |
23.1 |
4.4 |
20.4 |
6.6 |
|
Purch. Invest. Secs. |
-1.9 |
-22.4 |
-191.9 |
-227.6 |
-238.4 |
|
Sale Invest. Secs. |
10.5 |
0.4 |
0.0 |
0.2 |
3.3 |
|
Purchase of businesses |
0.0 |
-5.0 |
-7.3 |
0.0 |
- |
|
Inv't partnership-nonconsol.affil. made |
-5.3 |
-51.8 |
-32.7 |
0.0 |
- |
|
Purchase subs' closely-held capital |
- |
0.0 |
-32.4 |
0.0 |
- |
|
Purch.Subs.Stock |
0.0 |
-49.1 |
-82.4 |
-25.0 |
-2,015.4 |
|
Purchase of subs.' closely-held secs. |
0.0 |
-0.4 |
-5.1 |
0.0 |
- |
|
Other |
1.4 |
-0.9 |
-30.0 |
-22.4 |
-2.3 |
|
Cash from Investing Activities |
-272.0 |
-428.7 |
-988.2 |
-668.6 |
-2,610.2 |
|
|
|
|
|
|
|
|
ST Borrowing, Net |
-133.5 |
-1,168.6 |
664.1 |
-2,125.8 |
2,172.8 |
|
LT Debt Proceed |
9.8 |
220.7 |
112.0 |
1,440.8 |
35.3 |
|
LT Debt Paid |
-157.8 |
-116.4 |
-135.9 |
-158.6 |
-29.5 |
|
Proceeds from issuance of bonds |
0.0 |
1,070.8 |
0.0 |
- |
- |
|
Bond Redeemed |
0.0 |
-215.2 |
0.0 |
- |
0.0 |
|
Cash Dividend |
-115.7 |
-109.9 |
-110.4 |
-80.8 |
-56.2 |
|
Stocks issued |
- |
- |
0.0 |
991.4 |
0.0 |
|
Dividend Paid MI |
-17.6 |
-26.5 |
-22.7 |
-27.0 |
-11.7 |
|
Other |
-24.1 |
-30.7 |
-25.5 |
-10.5 |
-7.3 |
|
Cash from Financing Activities |
-439.0 |
-375.9 |
481.5 |
29.5 |
2,103.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-110.9 |
4.1 |
-173.1 |
-21.5 |
34.3 |
|
Net Change in Cash |
93.1 |
589.8 |
-61.3 |
243.4 |
243.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,859.2 |
1,124.4 |
1,099.5 |
723.2 |
463.3 |
|
Net Cash - Ending Balance |
1,952.3 |
1,714.2 |
1,038.2 |
966.6 |
706.8 |
|
Cash Interest Paid |
77.4 |
71.4 |
81.1 |
101.9 |
- |
|
Cash Taxes Paid |
257.2 |
151.8 |
318.0 |
342.1 |
207.5 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.605269 |
85.691434 |
86.812446 |
88.962162 |
92.080323 |
|
|
|
|
|
|
|
|
Net Income bf. Tax |
249.1 |
533.4 |
364.1 |
175.8 |
167.1 |
|
Depreciation |
111.6 |
465.3 |
340.6 |
219.0 |
104.8 |
|
Amort. of Goodwill |
36.3 |
138.2 |
102.4 |
66.5 |
32.2 |
|
Allow.Doubt.Acct. |
0.8 |
1.6 |
1.5 |
0.2 |
-0.5 |
|
Inter.&Div. Income |
-23.9 |
-48.5 |
-39.7 |
-25.8 |
-17.8 |
|
Interest Expense |
18.5 |
72.7 |
53.5 |
35.2 |
16.8 |
|
Inv. Income-Equity |
-12.8 |
-15.6 |
-9.9 |
-4.2 |
-0.2 |
|
G/L on disposal of fixed assets |
1.2 |
7.7 |
4.2 |
2.1 |
0.5 |
|
G/L-Sale Inv. Secs. |
0.0 |
7.2 |
3.4 |
0.0 |
0.0 |
|
L-Val. Inv. Secs. |
0.2 |
313.4 |
254.7 |
263.3 |
0.0 |
|
Acct.Receivables |
-104.4 |
-281.5 |
-148.5 |
-98.6 |
-143.3 |
|
Inventories |
-294.6 |
-285.9 |
-252.3 |
-49.7 |
-125.2 |
|
Acct. Payables |
122.2 |
302.0 |
173.1 |
74.3 |
39.2 |
|
Reserve accrued retirement |
-1.1 |
-5.7 |
-2.9 |
-1.4 |
-0.6 |
|
Prepaid pension benefits |
2.8 |
13.8 |
8.5 |
4.9 |
3.0 |
|
Pension payable |
-0.1 |
-45.4 |
-37.4 |
-36.0 |
0.2 |
|
Other |
-123.3 |
28.7 |
-113.7 |
-28.6 |
-127.2 |
|
Inter.&Div. R'cvd. |
27.2 |
48.3 |
39.9 |
25.5 |
17.5 |
|
Interest Paid |
-16.0 |
-77.4 |
-53.9 |
-37.5 |
-14.9 |
|
Tax Paid |
-87.6 |
-257.2 |
-162.6 |
-97.6 |
-53.6 |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
-93.9 |
915.0 |
525.1 |
487.3 |
-102.2 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-107.1 |
-286.8 |
-182.9 |
-118.7 |
-48.3 |
|
Sale of PP&E |
1.9 |
10.1 |
7.9 |
5.9 |
1.0 |
|
Purch. Invest. Secs. |
-0.3 |
-1.9 |
-0.7 |
-0.3 |
-0.2 |
|
Sale Invest. Secs. |
0.0 |
10.5 |
5.3 |
0.1 |
0.1 |
|
Inv't partnership-nonconsol.affil. made |
- |
-5.3 |
-5.2 |
- |
- |
|
Net decrease (increase) in time deposits |
- |
- |
0.0 |
0.0 |
- |
|
Purchase of businesses |
-4.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Purchase of subs.' securities |
- |
0.0 |
0.0 |
- |
- |
|
Purchase of subs.' closely-held secs. |
- |
0.0 |
0.0 |
0.0 |
- |
|
Other |
2.0 |
1.4 |
-4.3 |
2.0 |
1.2 |
|
Cash from Investing Activities |
-107.5 |
-272.0 |
-179.8 |
-111.0 |
-46.2 |
|
|
|
|
|
|
|
|
ST Borrowing, Net |
172.4 |
-133.5 |
66.4 |
-9.3 |
55.4 |
|
LT Debt Proceed |
2.4 |
9.8 |
6.5 |
4.4 |
1.5 |
|
LT Debt Paid |
-3.9 |
-157.8 |
-11.9 |
-11.2 |
-4.9 |
|
Proceeds from issuance of bonds |
- |
0.0 |
0.0 |
0.0 |
- |
|
Bond Redeemed |
- |
0.0 |
0.0 |
- |
- |
|
Cash Dividend |
-64.3 |
-115.7 |
-114.2 |
-52.4 |
-50.7 |
|
Dividend Paid MI |
-0.2 |
-17.6 |
-16.6 |
-12.3 |
-0.5 |
|
Other |
-16.0 |
-24.1 |
-18.5 |
-12.2 |
-5.0 |
|
Cash from Financing Activities |
90.4 |
-439.0 |
-88.4 |
-93.0 |
-4.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
20.5 |
-110.9 |
-130.0 |
-67.2 |
-33.5 |
|
Net Change in Cash |
-90.6 |
93.1 |
126.8 |
216.1 |
-186.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2,050.1 |
1,859.2 |
1,835.3 |
1,790.9 |
1,730.3 |
|
Net Cash - Ending Balance |
1,959.5 |
1,952.3 |
1,962.0 |
2,007.0 |
1,544.2 |
|
Cash Interest Paid |
16.0 |
77.4 |
53.9 |
37.5 |
14.9 |
|
Cash Taxes Paid |
87.6 |
257.2 |
162.6 |
97.6 |
53.6 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.84 |
|
UK Pound |
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.68 |
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.