MIRA INFORM REPORT
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Report Date : |
27.08.2012 |
IDENTIFICATION DETAILS
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Name : |
ASAHI GROUP HOLDINGS LTD |
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Registered Office : |
Asahi Beer Tower, 1-23-1,
Azumabashi, Sumida-ku, Tokyo, 130-8602 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.09.1949 |
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Legal Form : |
Public Parent |
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Line of Business : |
Manufacture and sale of alcohol beverages. |
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No. of Employees : |
16,759 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 and address
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Asahi Group Holdings Ltd |
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Employees: |
16,759 |
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Company Type: |
Public Parent |
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Corporate Family: |
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Traded: |
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Incorporation Date: |
01-Sep-1949 |
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Auditor: |
KPMG LLP |
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Fiscal Year End: |
31-Dec-2011 |
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Reporting Currency: |
Japanese Yen |
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Annual Sales: |
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Net Income: |
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Total Assets: |
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Market Value: |
11,315.5 |
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(17-Aug-2012) |
Business Description
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Asahi Group Holdings, Ltd.,
formerly ASAHI BREWERIES, LTD. is a holding company mainly engaged in the
manufacture and sale of alcohol beverages. The Alcohol segment provides beers,
non-alcoholic beverages, western liquors, wines and distilled spirits. This
segment is also engaged in the manufacture, sale and maintenance of alcohol
sales facilities, and the operation of beer bars and restaurants. The
Beverage segment provides various drinks, such as coffee, tea, carbonated
drinks, health drinks, fruit juice and mineral water. The Food segment
provides confectionery, supplement products, pharmaceuticals, baby foods and
others. The International segment provides beers, alcohol beverages, drinks
in China, New Zealand, the United Kingdom, Australia and Malaysia, among
others. The Others segment is engaged in the management of distribution
centres, the transportation and warehousing businesses. On January 31, 2012,
the Company completed the acquisition of H2O Pty Ltd. For the six months
ended 30 June 2012, Asahi Group Holdings Ltd revenues increased 9% to
Y710.29B. Net income increased 58% to Y25.64B. Revenues reflect International
Business segment increase of 82% to Y74.72B, Beverage segment increase of 9%
to Y165.24B, Liquor Business segment increase of 2% to Y407.58B. Net income
benefited from Liquor Business segment income increase of 27% to Y40.49B.
Dividend per share increased from Y11.50 to Y14.00. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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US SIC 1987: |
Key Executives
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Significant Developments
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News
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Financial Summary
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Stock Snapshot |
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Key IDSM Number:
90628
1 - Profit & Loss
Item Exchange Rate: USD 1 = JPY 79.69823
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 76.94
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Corporate Family |
Corporate Structure News: |
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Asahi Group Holdings Ltd |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Tokyo |
Japan |
Beverages (Alcoholic) |
18,353.4 |
16,759 |
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Subsidiary |
Tokyo |
Japan |
Beverages (Alcoholic) |
18,231.0 |
16,759 |
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Subsidiary |
Bangkok |
Thailand |
Beverages (Alcoholic) |
|
2,300 |
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Subsidiary |
Khon Kaen |
Thailand |
Beverages (Alcoholic) |
909.0 |
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Subsidiary |
South Melbourne, VIC |
Australia |
Beverages (Non-Alcoholic) |
746.5 |
1,500 |
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Subsidiary |
Tokyo |
Japan |
Beverages (Non-Alcoholic) |
2,205.5 |
1,400 |
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Subsidiary |
Sumida-Ku, Tokyo |
Japan |
Food Processing |
1,308.1 |
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Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Retail (Specialty) |
273.2 |
900 |
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Subsidiary |
Shibuya-Ku, Tokyo |
Japan |
Food Processing |
101.4 |
12 |
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Joint Venture |
Yantai, Shandong |
China |
Beverages (Alcoholic) |
16.9 |
1,327 |
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Joint Venture |
Hangzhou, Zhejiang |
China |
Beverages (Alcoholic) |
40.9 |
900 |
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Subsidiary |
Tokyo |
Japan |
Food Processing |
300.0 |
600 |
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Subsidiary |
Tokyo |
Japan |
Beverages (Alcoholic) |
668.8 |
440 |
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Subsidiary |
Nagoya, Aichi |
Japan |
Food Processing |
|
100 |
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Subsidiary |
Uxbridge |
United Kingdom |
Recreational Activities |
4.6 |
65 |
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Subsidiary |
Saitama |
Japan |
Food Processing |
1.0 |
25 |
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Subsidiary |
Torrance, CA |
United States |
Beverages (Alcoholic) |
10.0 |
15 |
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Subsidiary |
Tokyo, Sumida-ku |
Japan |
Food Processing |
316.9 |
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Subsidiary |
Tokyo |
Japan |
Restaurants |
1.0 |
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Subsidiary |
Shanghai |
China |
Beverages (Alcoholic) |
1.0 |
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Subsidiary |
Beijing |
China |
Beverages (Alcoholic) |
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Subsidiary |
Tokai |
Japan |
Biotechnology and Drugs |
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Subsidiary |
Shanghai |
China |
Beverages (Alcoholic) |
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Subsidiary |
Ota-Ku, Tokyo |
Japan |
Business Services |
67.5 |
630 |
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Subsidiary |
Ringwood, VIC |
Australia |
Food Processing |
889.4 |
400 |
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Subsidiary |
South Wharf, VIC |
Australia |
Consumer Financial Services |
770.1 |
2,237 |
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Subsidiary |
South Wharf, VIC |
Australia |
Food Processing |
1,585.1 |
1,376 |
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Subsidiary |
Waitakere |
New Zealand |
Beverages (Non-Alcoholic) |
22.2 |
60 |
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Subsidiary |
Sumida-Ku, Tokyo |
Japan |
Miscellaneous Financial Services |
43.1 |
3 |
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Subsidiary |
Minato-Ku, Tokyo |
Japan |
Trucking |
874.5 |
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Subsidiary |
Sumida-Ku, Tokyo |
Japan |
Biotechnology and Drugs |
610.2 |
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Subsidiary |
Amagasaki, Hyogo |
Japan |
Beverages (Alcoholic) |
379.2 |
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Subsidiary |
Fukuyama, Hiroshima |
Japan |
Food Processing |
222.1 |
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Subsidiary |
Taito-Ku, Tokyo |
Japan |
Business Services |
25.9 |
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Asahi
Group Holdings Ltd
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Tokyo Closing Stock Prices(1) |
27-Aug-2012 |
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Tokyo Stock Exchange: closing price list -1- |
27-Aug-2012 |
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Tokyo Stock Exchange: morning price list -1- |
26-Aug-2012 |
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Tokyo Closing Stock Prices(1) |
24-Aug-2012 |
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Tokyo Stock Exchange: closing price list -1- |
24-Aug-2012 |
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Tokyo Stock Exchange: morning price list -1- |
23-Aug-2012 |
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Asahi To Sell Super Dry In Philippines |
23-Aug-2012 |
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Beer firms in Japan review overseas strategy |
20-Aug-2012 |
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Tokyo Closing Stock Prices(1) |
20-Aug-2012 |
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Tokyo Stock Exchange: closing price list -1- |
20-Aug-2012 |
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Financials in: USD (mil) |
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Except for share items
(millions) and per share items (actual units) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period
Length |
12
Months |
12
Months |
12
Months |
12
Months |
12
Months |
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UpdateType/Date |
Updated
Normal |
Updated
Normal |
Updated
Normal |
Updated
Normal |
Updated
Normal |
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Filed
Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange
Rate (Period Average) |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
117.767199 |
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Auditor |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
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Auditor
Opinion |
Unqualified |
Unqualified
with Explanation |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
18,353.4 |
16,966.3 |
15,728.2 |
14,147.1 |
12,431.9 |
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Revenue |
18,353.4 |
16,966.3 |
15,728.2 |
14,147.1 |
12,431.9 |
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Total Revenue |
18,353.4 |
16,966.3 |
15,728.2 |
14,147.1 |
12,431.9 |
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Cost of Revenue |
11,383.5 |
10,745.3 |
10,237.6 |
9,221.7 |
8,161.7 |
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Cost of Revenue, Total |
11,383.5 |
10,745.3 |
10,237.6 |
9,221.7 |
8,161.7 |
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Gross Profit |
6,970.0 |
6,221.0 |
5,490.6 |
4,925.4 |
4,270.2 |
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Selling/General/Administrative
Expense |
3,885.5 |
3,509.3 |
3,117.6 |
2,807.4 |
2,475.5 |
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Labor & Related Expense |
928.1 |
837.9 |
770.1 |
625.2 |
533.0 |
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Advertising Expense |
545.7 |
564.2 |
537.4 |
459.2 |
434.8 |
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Total Selling/General/Administrative Expenses |
5,359.2 |
4,911.4 |
4,425.2 |
3,891.9 |
3,443.3 |
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Depreciation |
185.8 |
158.6 |
126.9 |
80.7 |
67.4 |
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Amortization of Acquisition Costs |
80.0 |
64.9 |
54.2 |
38.6 |
21.1 |
|
Depreciation/Amortization |
265.7 |
223.5 |
181.2 |
119.3 |
88.5 |
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Restructuring Charge |
9.2 |
225.3 |
0.0 |
10.3 |
0.0 |
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Impairment-Assets Held for Use |
0.0 |
154.6 |
88.8 |
21.2 |
11.8 |
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Impairment-Assets Held for Sale |
-11.1 |
11.4 |
8.4 |
34.8 |
2.9 |
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Other Unusual Expense (Income) |
271.9 |
16.5 |
11.6 |
24.1 |
5.1 |
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Unusual Expense (Income) |
269.9 |
407.9 |
108.9 |
90.5 |
19.8 |
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Total Operating Expense |
17,278.4 |
16,288.0 |
14,952.8 |
13,323.4 |
11,713.3 |
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Operating Income |
1,075.1 |
678.3 |
775.3 |
823.7 |
718.6 |
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Interest
Expense - Non-Operating |
-46.0 |
-49.3 |
-49.4 |
-50.2 |
-42.6 |
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Interest Expense, Net
Non-Operating |
-46.0 |
-49.3 |
-49.4 |
-50.2 |
-42.6 |
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Interest
Income - Non-Operating |
4.2 |
3.6 |
3.5 |
3.0 |
5.8 |
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Investment
Income - Non-Operating |
89.7 |
143.9 |
144.9 |
90.7 |
82.2 |
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Interest/Investment Income -
Non-Operating |
93.9 |
147.5 |
148.4 |
93.7 |
87.9 |
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Interest Income (Expense) - Net Non-Operating Total |
47.9 |
98.2 |
99.0 |
43.5 |
45.3 |
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Gain (Loss) on Sale of Assets |
44.8 |
293.1 |
73.9 |
-62.4 |
-75.1 |
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Other Non-Operating Income
(Expense) |
-33.2 |
-16.3 |
-7.3 |
-2.6 |
5.3 |
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Other, Net |
-33.2 |
-16.3 |
-7.3 |
-2.6 |
5.3 |
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Income Before Tax |
1,134.6 |
1,053.3 |
940.8 |
802.2 |
694.1 |
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Total Income Tax |
437.7 |
466.1 |
443.0 |
397.7 |
312.2 |
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Income After Tax |
696.9 |
587.2 |
497.9 |
404.5 |
381.9 |
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Minority Interest |
-5.5 |
17.5 |
11.1 |
30.9 |
-1.5 |
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Net Income Before Extraord Items |
691.3 |
604.7 |
509.0 |
435.4 |
380.4 |
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Net Income |
691.3 |
604.7 |
509.0 |
435.4 |
380.4 |
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Miscellaneous Earnings Adjustment |
-0.1 |
0.0 |
-0.1 |
-0.1 |
-0.1 |
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Total Adjustments to Net Income |
-0.1 |
0.0 |
-0.1 |
-0.1 |
-0.1 |
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Income Available to Common Excl Extraord Items |
691.3 |
604.6 |
508.9 |
435.4 |
380.4 |
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Income Available to Common Incl Extraord Items |
691.3 |
604.6 |
508.9 |
435.4 |
380.4 |
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Basic/Primary Weighted Average Shares |
465.5 |
465.2 |
464.9 |
467.4 |
471.9 |
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Basic EPS Excl Extraord Items |
1.49 |
1.30 |
1.09 |
0.93 |
0.81 |
|
Basic/Primary EPS Incl Extraord Items |
1.49 |
1.30 |
1.09 |
0.93 |
0.81 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Diluted Net Income |
691.3 |
604.6 |
508.9 |
435.4 |
380.4 |
|
Diluted Weighted Average Shares |
465.8 |
465.6 |
465.2 |
468.2 |
472.8 |
|
Diluted EPS Excl Extraord Items |
1.48 |
1.30 |
1.09 |
0.93 |
0.80 |
|
Diluted EPS Incl Extraord Items |
1.48 |
1.30 |
1.09 |
0.93 |
0.80 |
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Dividends per Share - Common Stock Primary Issue |
0.31 |
0.26 |
0.22 |
0.19 |
0.16 |
|
Gross Dividends - Common Stock |
146.0 |
121.9 |
104.3 |
89.9 |
76.2 |
|
Interest Expense, Supplemental |
46.0 |
49.3 |
49.4 |
50.2 |
42.6 |
|
Depreciation, Supplemental |
729.4 |
680.1 |
623.5 |
458.0 |
384.2 |
|
Total Special Items |
310.4 |
182.3 |
91.5 |
191.5 |
116.0 |
|
Normalized Income Before Tax |
1,445.0 |
1,235.6 |
1,032.4 |
993.7 |
810.1 |
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|
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Effect of Special Items on Income Taxes |
86.9 |
50.8 |
16.5 |
75.8 |
42.7 |
|
Inc Tax Ex Impact of Sp Items |
524.6 |
516.9 |
459.5 |
473.5 |
354.9 |
|
Normalized Income After Tax |
920.4 |
718.7 |
572.9 |
520.2 |
455.2 |
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|
|
|
|
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Normalized Inc. Avail to Com. |
914.8 |
736.2 |
583.9 |
551.1 |
453.7 |
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Basic Normalized EPS |
1.97 |
1.58 |
1.26 |
1.18 |
0.96 |
|
Diluted Normalized EPS |
1.96 |
1.58 |
1.26 |
1.18 |
0.96 |
|
Amort of Acquisition Costs, Supplemental |
85.3 |
67.6 |
56.5 |
38.6 |
21.1 |
|
Advertising Expense, Supplemental |
545.7 |
564.2 |
537.4 |
459.2 |
434.8 |
|
Research & Development Exp, Supplemental |
111.9 |
107.1 |
99.8 |
87.8 |
73.3 |
|
Reported Operating Profit |
1,344.9 |
1,086.1 |
884.2 |
914.2 |
738.4 |
|
Reported Ordinary Profit |
1,391.6 |
1,152.1 |
967.2 |
933.1 |
766.1 |
|
Normalized EBIT |
1,345.0 |
1,086.2 |
884.2 |
914.2 |
738.4 |
|
Normalized EBITDA |
2,159.7 |
1,833.9 |
1,564.2 |
1,410.8 |
1,143.7 |
|
Interest Cost - Domestic |
22.6 |
20.8 |
19.2 |
16.4 |
14.0 |
|
Service Cost - Domestic |
53.1 |
53.4 |
47.9 |
46.8 |
37.5 |
|
Prior Service Cost - Domestic |
-4.3 |
-4.4 |
-4.7 |
-4.4 |
-3.8 |
|
Expected Return on Assets - Domestic |
-8.8 |
-15.3 |
-2.7 |
-23.1 |
-21.1 |
|
Actuarial Gains and Losses - Domestic |
30.1 |
23.8 |
23.8 |
5.2 |
-1.9 |
|
Other Pension, Net - Domestic |
9.0 |
5.6 |
5.1 |
6.9 |
6.1 |
|
Domestic Pension Plan Expense |
101.8 |
83.9 |
88.5 |
47.9 |
30.8 |
|
Total Pension Expense |
101.8 |
83.9 |
88.5 |
47.9 |
30.8 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
1.00% |
3.00% |
0.00% |
4.00% |
4.00% |
|
Total Plan Interest Cost |
22.6 |
20.8 |
19.2 |
16.4 |
14.0 |
|
Total Plan Service Cost |
53.1 |
53.4 |
47.9 |
46.8 |
37.5 |
|
Total Plan Expected Return |
-8.8 |
-15.3 |
-2.7 |
-23.1 |
-21.1 |
|
Total Plan Other Expense |
9.0 |
5.6 |
5.1 |
6.9 |
6.1 |
|
|
|
Annual Balance Sheet |
|
Financials
in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated
Normal |
Updated
Normal |
Updated
Normal |
Updated
Normal |
Updated
Normal |
|
Filed
Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange
Rate |
76.94 |
81.105 |
93.095 |
90.65 |
111.715 |
|
Auditor |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
|
Auditor
Opinion |
Unqualified |
Unqualified
with Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
219.6 |
142.2 |
210.4 |
140.9 |
104.1 |
|
Short Term Investments |
- |
- |
0.0 |
3.3 |
0.5 |
|
Cash and Short Term Investments |
219.6 |
142.2 |
210.4 |
144.2 |
104.5 |
|
Accounts
Receivable - Trade, Gross |
3,633.9 |
3,383.0 |
2,949.2 |
2,923.9 |
2,490.6 |
|
Provision
for Doubtful Accounts |
-43.2 |
-70.1 |
-82.3 |
-66.7 |
-58.9 |
|
Trade Accounts Receivable - Net |
3,590.7 |
3,312.9 |
2,866.9 |
2,857.2 |
2,431.7 |
|
Total Receivables, Net |
3,590.7 |
3,312.9 |
2,866.9 |
2,857.2 |
2,431.7 |
|
Inventories - Finished Goods |
915.0 |
791.3 |
692.8 |
731.0 |
- |
|
Inventories - Raw Materials |
418.9 |
384.4 |
353.9 |
339.5 |
- |
|
Total Inventory |
1,333.9 |
1,175.7 |
1,046.7 |
1,070.5 |
809.5 |
|
Deferred Income Tax - Current
Asset |
168.7 |
180.3 |
120.0 |
99.4 |
62.0 |
|
Other Current Assets |
628.7 |
380.3 |
354.0 |
377.5 |
273.0 |
|
Other Current Assets, Total |
797.4 |
560.6 |
474.0 |
476.9 |
335.1 |
|
Total Current Assets |
5,941.6 |
5,191.4 |
4,597.9 |
4,548.7 |
3,680.9 |
|
|
|
|
|
|
|
|
Buildings |
5,185.9 |
4,915.7 |
4,474.9 |
4,566.8 |
3,703.3 |
|
Land/Improvements |
2,288.2 |
2,251.0 |
1,981.1 |
2,043.0 |
1,618.0 |
|
Machinery/Equipment |
8,078.1 |
7,541.6 |
7,066.7 |
6,993.9 |
5,658.5 |
|
Construction
in Progress |
69.6 |
82.8 |
68.6 |
67.2 |
30.9 |
|
Leases |
379.0 |
236.2 |
111.2 |
0.0 |
- |
|
Other
Property/Plant/Equipment |
2.6 |
2.4 |
2.4 |
0.0 |
- |
|
Property/Plant/Equipment - Gross |
16,003.4 |
15,029.7 |
13,704.8 |
13,670.9 |
11,010.7 |
|
Accumulated Depreciation |
-9,033.9 |
-8,160.9 |
-7,269.3 |
-6,977.1 |
-5,436.5 |
|
Property/Plant/Equipment - Net |
6,969.5 |
6,868.9 |
6,435.4 |
6,693.8 |
5,574.2 |
|
Goodwill, Net |
2,396.8 |
1,037.8 |
1,077.5 |
669.3 |
584.7 |
|
Intangibles, Net |
648.3 |
464.1 |
434.3 |
173.1 |
140.5 |
|
LT Investment - Affiliate
Companies |
2,092.1 |
1,989.9 |
1,337.1 |
- |
- |
|
LT Investments - Other |
999.2 |
938.5 |
902.2 |
1,574.5 |
1,414.6 |
|
Long Term Investments |
3,091.2 |
2,928.4 |
2,239.3 |
1,574.5 |
1,414.6 |
|
Note Receivable - Long Term |
66.3 |
81.4 |
53.4 |
66.6 |
51.6 |
|
Deferred Income Tax - Long Term
Asset |
376.3 |
375.4 |
225.8 |
267.1 |
169.9 |
|
Other Long Term Assets |
394.3 |
380.0 |
336.1 |
337.3 |
238.6 |
|
Other Long Term Assets, Total |
770.6 |
755.5 |
561.9 |
604.4 |
408.5 |
|
Total Assets |
19,884.3 |
17,327.5 |
15,399.8 |
14,330.4 |
11,855.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,358.6 |
1,269.3 |
1,084.9 |
1,099.5 |
901.6 |
|
Accrued Expenses |
2,513.7 |
2,308.1 |
2,013.1 |
2,083.2 |
1,707.3 |
|
Notes Payable/Short Term Debt |
1,536.5 |
913.7 |
1,566.3 |
924.7 |
1,395.6 |
|
Current Portion - Long Term Debt/Capital Leases |
1,009.4 |
347.3 |
455.8 |
427.2 |
421.3 |
|
Security Deposits |
246.0 |
241.8 |
219.4 |
252.2 |
229.7 |
|
Income Taxes Payable |
325.2 |
400.6 |
258.8 |
249.9 |
125.3 |
|
Other Payables |
795.7 |
648.0 |
535.3 |
588.7 |
512.0 |
|
Other Current Liabilities |
41.4 |
34.4 |
29.7 |
67.4 |
49.2 |
|
Other Current liabilities, Total |
1,408.3 |
1,324.8 |
1,043.3 |
1,158.2 |
916.2 |
|
Total Current Liabilities |
7,826.4 |
6,163.2 |
6,163.3 |
5,692.9 |
5,342.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
2,604.8 |
2,628.2 |
2,209.1 |
1,982.4 |
1,159.0 |
|
Capital Lease Obligations |
196.7 |
150.0 |
78.9 |
0.0 |
- |
|
Total Long Term Debt |
2,801.5 |
2,778.2 |
2,287.9 |
1,982.4 |
1,159.0 |
|
Total Debt |
5,347.3 |
4,039.2 |
4,310.1 |
3,334.4 |
2,975.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
85.8 |
59.6 |
52.2 |
67.4 |
44.9 |
|
Deferred Income Tax |
85.8 |
59.6 |
52.2 |
67.4 |
44.9 |
|
Minority Interest |
26.8 |
5.9 |
45.4 |
143.8 |
135.3 |
|
Reserves |
6.2 |
0.0 |
- |
- |
- |
|
Pension Benefits - Underfunded |
288.9 |
312.4 |
267.0 |
266.4 |
217.2 |
|
Other Long Term Liabilities |
508.0 |
460.1 |
423.8 |
423.7 |
349.5 |
|
Other Liabilities, Total |
803.1 |
772.5 |
690.8 |
690.0 |
566.8 |
|
Total Liabilities |
11,543.6 |
9,779.4 |
9,239.7 |
8,576.5 |
7,248.1 |
|
|
|
|
|
|
|
|
Common Stock |
2,372.4 |
2,250.6 |
1,960.7 |
2,013.6 |
1,633.9 |
|
Common Stock |
2,372.4 |
2,250.6 |
1,960.7 |
2,013.6 |
1,633.9 |
|
Additional Paid-In Capital |
1,959.8 |
1,860.7 |
1,622.5 |
1,667.4 |
1,354.0 |
|
Retained Earnings (Accumulated Deficit) |
4,403.5 |
3,640.1 |
2,708.5 |
2,362.8 |
1,594.0 |
|
Treasury Stock - Common |
-367.8 |
-354.1 |
-314.5 |
-326.3 |
-131.4 |
|
Unrealized Gain (Loss) |
-34.9 |
11.0 |
26.2 |
31.5 |
116.3 |
|
Translation Adjustment |
7.6 |
140.0 |
156.7 |
4.9 |
40.1 |
|
Other Equity, Total |
7.6 |
140.0 |
156.7 |
4.9 |
40.1 |
|
Total Equity |
8,340.7 |
7,548.1 |
6,160.1 |
5,753.9 |
4,607.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
19,884.3 |
17,327.5 |
15,399.8 |
14,330.4 |
11,855.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
465.6 |
465.4 |
465.0 |
464.8 |
472.5 |
|
Total Common Shares Outstanding |
465.6 |
465.4 |
465.0 |
464.8 |
472.5 |
|
Treasury Shares - Common Stock Primary Issue |
18.0 |
18.2 |
18.6 |
18.8 |
11.1 |
|
Employees |
16,759 |
16,712 |
17,316 |
16,357 |
15,599 |
|
Number of Common Shareholders |
123,931 |
131,262 |
119,908 |
115,450 |
115,588 |
|
Total Long Term Debt, Supplemental |
4,034.8 |
3,567.2 |
2,804.2 |
2,409.6 |
1,580.3 |
|
Long Term Debt Maturing within 1 Year |
976.8 |
508.2 |
434.0 |
427.2 |
421.3 |
|
Long Term Debt Maturing in Year 2 |
204.5 |
879.5 |
236.4 |
453.5 |
343.4 |
|
Long Term Debt Maturing in Year 3 |
328.8 |
191.0 |
777.5 |
254.4 |
436.3 |
|
Long Term Debt Maturing in Year 4 |
343.0 |
246.6 |
162.3 |
156.9 |
136.6 |
|
Long Term Debt Maturing in Year 5 |
395.1 |
320.6 |
214.8 |
167.0 |
116.0 |
|
Long Term Debt Maturing in 2-3 Years |
533.3 |
1,070.5 |
1,013.9 |
707.8 |
779.7 |
|
Long Term Debt Maturing in 4-5 Years |
738.0 |
567.2 |
377.2 |
323.9 |
252.6 |
|
Long Term Debt Matur. in Year 6 & Beyond |
1,786.6 |
1,421.4 |
979.2 |
950.7 |
126.7 |
|
Total Capital Leases, Supplemental |
277.3 |
199.4 |
100.7 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
80.6 |
49.5 |
21.8 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
80.1 |
51.2 |
22.6 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
65.1 |
50.9 |
23.4 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
38.5 |
36.3 |
22.6 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
12.9 |
11.6 |
10.2 |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
145.2 |
102.1 |
46.1 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
51.5 |
47.8 |
32.8 |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
1,193.8 |
1,145.8 |
963.4 |
962.5 |
772.2 |
|
Plan Assets - Domestic |
863.6 |
824.3 |
660.2 |
569.1 |
572.8 |
|
Funded Status - Domestic |
-330.2 |
-321.5 |
-303.3 |
-393.4 |
-199.4 |
|
Total Funded Status |
-330.2 |
-321.5 |
-303.3 |
-393.4 |
-199.4 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
1.00% |
3.00% |
0.00% |
4.00% |
4.00% |
|
Prepaid Benefits - Domestic |
168.8 |
155.7 |
96.2 |
44.9 |
7.7 |
|
Accrued Liabilities - Domestic |
-284.0 |
-305.0 |
-260.5 |
-259.4 |
-213.2 |
|
Other Assets, Net - Domestic |
215.0 |
172.2 |
139.0 |
178.9 |
-6.1 |
|
Net Assets Recognized on Balance Sheet |
99.8 |
22.8 |
-25.4 |
-35.6 |
-211.6 |
|
Total Plan Obligations |
1,193.8 |
1,145.8 |
963.4 |
962.5 |
772.2 |
|
Total Plan Assets |
863.6 |
824.3 |
660.2 |
569.1 |
572.8 |
|
|
|
Annual Cash Flows |
|
Financials
in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-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) |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
117.767199 |
|
Auditor |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
|
Auditor
Opinion |
Unqualified |
Unqualified
with Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
1,134.6 |
1,053.2 |
940.8 |
802.1 |
694.1 |
|
Depreciation |
729.4 |
680.1 |
623.5 |
458.0 |
384.2 |
|
Depreciation/Depletion |
729.4 |
680.1 |
623.5 |
458.0 |
384.2 |
|
Amortization of Acquisition Costs |
85.3 |
67.6 |
56.5 |
38.6 |
21.1 |
|
Amortization |
85.3 |
67.6 |
56.5 |
38.6 |
21.1 |
|
Unusual Items |
-15.0 |
76.2 |
24.4 |
96.5 |
80.0 |
|
Equity in Net Earnings (Loss) |
-68.7 |
-112.2 |
-90.9 |
-88.1 |
-76.5 |
|
Other Non-Cash Items |
-13.1 |
51.6 |
20.1 |
-4.0 |
-35.2 |
|
Non-Cash Items |
-96.8 |
15.7 |
-46.3 |
4.4 |
-31.7 |
|
Accounts Receivable |
-10.5 |
-2.9 |
-9.5 |
150.6 |
-17.4 |
|
Inventories |
-38.8 |
19.5 |
53.9 |
-67.3 |
11.4 |
|
Accounts Payable |
-11.2 |
25.7 |
-30.1 |
-39.7 |
-23.1 |
|
Taxes Payable |
-134.4 |
-51.0 |
-49.6 |
-53.7 |
14.4 |
|
Other Operating Cash Flow |
-296.0 |
-377.1 |
-403.0 |
-267.1 |
-460.0 |
|
Changes in Working Capital |
-490.9 |
-385.8 |
-438.4 |
-277.1 |
-474.6 |
|
Cash from Operating Activities |
1,361.5 |
1,430.8 |
1,136.0 |
1,026.1 |
593.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-294.8 |
-289.0 |
-375.1 |
-350.0 |
-300.9 |
|
Purchase/Acquisition of
Intangibles |
-38.9 |
-54.4 |
-250.1 |
-43.8 |
-50.7 |
|
Capital Expenditures |
-333.7 |
-343.4 |
-625.3 |
-393.8 |
-351.6 |
|
Acquisition of Business |
-1,783.5 |
-60.8 |
0.0 |
20.8 |
0.0 |
|
Sale of Business |
- |
0.0 |
-0.2 |
-1.7 |
-7.2 |
|
Sale of Fixed Assets |
60.9 |
28.5 |
12.8 |
7.2 |
24.7 |
|
Sale/Maturity of Investment |
59.3 |
546.9 |
444.0 |
23.9 |
46.6 |
|
Purchase of Investments |
-112.1 |
-615.4 |
-1,726.2 |
-169.8 |
-691.6 |
|
Sale of Intangible Assets |
1.1 |
1.0 |
0.1 |
0.0 |
1.1 |
|
Other Investing Cash Flow |
-40.5 |
-32.8 |
-34.8 |
-49.8 |
-22.4 |
|
Other Investing Cash Flow Items, Total |
-1,814.8 |
-132.6 |
-1,304.2 |
-169.4 |
-648.9 |
|
Cash from Investing Activities |
-2,148.5 |
-476.0 |
-1,929.5 |
-563.2 |
-1,000.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-5.3 |
7.8 |
3.8 |
0.4 |
10.6 |
|
Financing Cash Flow Items |
-5.3 |
7.8 |
3.8 |
0.4 |
10.6 |
|
Cash Dividends Paid - Common |
-140.2 |
-113.9 |
-101.8 |
-86.1 |
-80.1 |
|
Total Cash Dividends Paid |
-140.2 |
-113.9 |
-101.8 |
-86.1 |
-80.1 |
|
Repurchase/Retirement
of Common |
-0.1 |
-0.3 |
-0.3 |
-148.4 |
-2.0 |
|
Common Stock, Net |
-0.1 |
-0.3 |
-0.3 |
-148.4 |
-2.0 |
|
Issuance (Retirement) of Stock, Net |
-0.1 |
-0.3 |
-0.3 |
-148.4 |
-2.0 |
|
Short Term Debt, Net |
618.3 |
-812.5 |
658.2 |
-697.3 |
561.3 |
|
Long Term
Debt Issued |
690.7 |
349.9 |
715.7 |
912.3 |
366.9 |
|
Long Term
Debt Reduction |
-321.6 |
-465.6 |
-436.5 |
-429.2 |
-550.0 |
|
Long Term Debt, Net |
369.1 |
-115.8 |
279.2 |
483.1 |
-183.1 |
|
Issuance (Retirement) of Debt, Net |
987.3 |
-928.3 |
937.3 |
-214.2 |
378.2 |
|
Cash from Financing Activities |
841.8 |
-1,034.6 |
839.0 |
-448.4 |
306.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
10.3 |
-3.0 |
6.9 |
-5.2 |
-1.5 |
|
Net Change in Cash |
65.1 |
-82.8 |
52.4 |
9.2 |
-102.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
137.4 |
206.0 |
140.7 |
113.6 |
201.9 |
|
Net Cash - Ending Balance |
202.5 |
123.2 |
193.1 |
122.8 |
99.7 |
|
Cash Interest Paid |
42.0 |
46.6 |
49.2 |
50.2 |
44.2 |
|
Cash Taxes Paid |
587.1 |
484.1 |
453.2 |
314.7 |
395.0 |
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions)
and per share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-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) |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
117.767199 |
|
Auditor |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
|
Auditor
Opinion |
Unqualified |
Unqualified
with Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
18,353.4 |
16,966.3 |
15,728.2 |
14,147.1 |
12,431.9 |
|
Total Revenue |
18,353.4 |
16,966.3 |
15,728.2 |
14,147.1 |
12,431.9 |
|
|
|
|
|
|
|
|
Cost of Sales |
11,383.5 |
10,745.3 |
10,237.6 |
9,221.7 |
8,161.7 |
|
Selling Commission |
2,185.9 |
1,942.0 |
1,648.5 |
1,473.1 |
1,332.1 |
|
Advertising Expenses |
545.7 |
564.2 |
537.4 |
459.2 |
434.8 |
|
Shipping Expense |
507.9 |
443.3 |
395.5 |
349.8 |
314.3 |
|
Doubt Debt Allow |
1.0 |
5.0 |
3.6 |
2.4 |
2.2 |
|
Salary & Bonus |
844.7 |
769.4 |
700.3 |
592.4 |
510.4 |
|
Accrued Retirement |
83.4 |
68.5 |
69.8 |
32.8 |
22.6 |
|
Depreciation |
185.8 |
158.6 |
126.9 |
80.7 |
67.4 |
|
Amort. of goodwill |
80.0 |
64.9 |
54.2 |
38.6 |
21.1 |
|
Other Selling & Gen. |
1,190.7 |
1,119.0 |
1,070.1 |
982.1 |
826.9 |
|
SP Reversal Doubtful Account |
-12.1 |
-2.0 |
-5.1 |
-5.5 |
-9.2 |
|
SP Relocation Compens. |
- |
- |
0.0 |
-7.3 |
0.0 |
|
SP G recalled product related
comp. rcvd |
- |
0.0 |
-9.7 |
-13.4 |
0.0 |
|
SP Other Special Gains |
-20.1 |
-4.9 |
0.0 |
- |
- |
|
SP Directors Allow |
- |
- |
0.0 |
0.5 |
1.2 |
|
SP Reval.-Inv Security |
27.5 |
11.4 |
8.4 |
34.8 |
2.9 |
|
SP Assets impairment losses |
0.0 |
154.6 |
88.8 |
21.2 |
11.8 |
|
SP Restructuring Exp. |
9.2 |
225.3 |
0.0 |
10.3 |
0.0 |
|
SP Prior Sales Promotion |
- |
- |
0.0 |
30.1 |
0.0 |
|
SP L recalled product related
expenses |
- |
- |
0.0 |
13.6 |
0.0 |
|
SP L on Collected Gift Cards |
- |
- |
- |
0.0 |
13.1 |
|
SP L on Establ. Act for Retire.
Benefits |
- |
0.0 |
15.0 |
0.0 |
- |
|
SP Earthquake related expenses |
224.8 |
0.0 |
- |
- |
- |
|
SP L on adjut for chages of acc.
assets |
5.8 |
0.0 |
- |
- |
- |
|
SP Business integration expenses |
45.4 |
0.0 |
- |
- |
- |
|
SP Other Special Loss |
28.1 |
23.5 |
11.5 |
6.2 |
0.0 |
|
NOP G on valuation of derivatives |
-38.6 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
17,278.4 |
16,288.0 |
14,952.8 |
13,323.4 |
11,713.3 |
|
|
|
|
|
|
|
|
NOP Interest Income |
4.2 |
3.6 |
3.5 |
3.0 |
5.8 |
|
NOP Dividend Income |
14.3 |
15.8 |
25.9 |
14.4 |
11.6 |
|
NOP Foreign Exchange Gains |
- |
0.0 |
19.4 |
0.0 |
- |
|
NOP Equity in Affiliate |
68.7 |
112.2 |
90.9 |
88.1 |
76.5 |
|
NOP Other Income |
14.1 |
18.5 |
30.5 |
29.2 |
22.6 |
|
NOP Interest Expenses |
-46.0 |
-49.3 |
-49.4 |
-50.2 |
-42.6 |
|
NOP Doubt Debt Allow |
- |
- |
- |
- |
0.0 |
|
NOP Foreign Exchange Losses |
- |
- |
0.0 |
-12.0 |
0.0 |
|
NOP L on sale/retire. of
inventories |
- |
- |
0.0 |
-21.7 |
-28.9 |
|
NOP Other Expenses |
-47.3 |
-34.8 |
-37.9 |
-31.8 |
-17.3 |
|
SP Gain-Fix Asset Sold |
32.7 |
7.4 |
8.3 |
1.3 |
10.6 |
|
SP Gain-Inv Sec Sold |
6.7 |
19.8 |
4.1 |
0.7 |
0.9 |
|
SP Gain-Affil. Eq Sold |
58.7 |
368.3 |
171.9 |
0.0 |
- |
|
SP Gains on Equity Changes |
0.0 |
8.3 |
9.7 |
0.0 |
- |
|
SP Fixed Asset Retired/Sold |
-46.4 |
-68.2 |
-106.3 |
-42.0 |
-56.8 |
|
SP Loss-Inv Sec Sold |
0.0 |
-12.2 |
-5.2 |
-0.4 |
-6.8 |
|
SP Liquidation of Affiliate |
-0.2 |
-14.4 |
0.0 |
- |
- |
|
Net Income Before Taxes |
1,134.6 |
1,053.3 |
940.8 |
802.2 |
694.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
437.7 |
466.1 |
443.0 |
397.7 |
312.2 |
|
Net Income After Taxes |
696.9 |
587.2 |
497.9 |
404.5 |
381.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-5.5 |
17.5 |
11.1 |
30.9 |
-1.5 |
|
Net Income Before Extra. Items |
691.3 |
604.7 |
509.0 |
435.4 |
380.4 |
|
Net Income |
691.3 |
604.7 |
509.0 |
435.4 |
380.4 |
|
|
|
|
|
|
|
|
Rounding Adjustment |
-0.1 |
0.0 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Com Excl ExtraOrd |
691.3 |
604.6 |
508.9 |
435.4 |
380.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
691.3 |
604.6 |
508.9 |
435.4 |
380.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
465.5 |
465.2 |
464.9 |
467.4 |
471.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.49 |
1.30 |
1.09 |
0.93 |
0.81 |
|
Basic EPS Including ExtraOrdinary Item |
1.49 |
1.30 |
1.09 |
0.93 |
0.81 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
691.3 |
604.6 |
508.9 |
435.4 |
380.4 |
|
Diluted Weighted Average Shares |
465.8 |
465.6 |
465.2 |
468.2 |
472.8 |
|
Diluted EPS Excluding ExtraOrd Items |
1.48 |
1.30 |
1.09 |
0.93 |
0.80 |
|
Diluted EPS Including ExtraOrd Items |
1.48 |
1.30 |
1.09 |
0.93 |
0.80 |
|
DPS-Common Stock |
0.31 |
0.26 |
0.22 |
0.19 |
0.16 |
|
Gross Dividends - Common Stock |
146.0 |
121.9 |
104.3 |
89.9 |
76.2 |
|
Normalized Income Before Taxes |
1,445.0 |
1,235.6 |
1,032.4 |
993.7 |
810.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
524.6 |
516.9 |
459.5 |
473.5 |
354.9 |
|
Normalized Income After Taxes |
920.4 |
718.7 |
572.9 |
520.2 |
455.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
914.8 |
736.2 |
583.9 |
551.1 |
453.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.97 |
1.58 |
1.26 |
1.18 |
0.96 |
|
Diluted Normalized EPS |
1.96 |
1.58 |
1.26 |
1.18 |
0.96 |
|
Advertising Expense |
545.7 |
564.2 |
537.4 |
459.2 |
434.8 |
|
R&D Expenses |
111.9 |
107.1 |
99.8 |
87.8 |
73.3 |
|
Interest Expense |
46.0 |
49.3 |
49.4 |
50.2 |
42.6 |
|
Amort. of goodwill |
85.3 |
67.6 |
56.5 |
38.6 |
21.1 |
|
Depreciation |
729.4 |
680.1 |
623.5 |
458.0 |
384.2 |
|
Reported Operating Profit |
1,344.9 |
1,086.1 |
884.2 |
914.2 |
738.4 |
|
Reported Ordinary Profit |
1,391.6 |
1,152.1 |
967.2 |
933.1 |
766.1 |
|
Service Cost |
53.1 |
53.4 |
47.9 |
46.8 |
37.5 |
|
Interest Cost |
22.6 |
20.8 |
19.2 |
16.4 |
14.0 |
|
Expected Return on Plan Assets |
-8.8 |
-15.3 |
-2.7 |
-23.1 |
-21.1 |
|
Actuarial Gains and Losses |
30.1 |
23.8 |
23.8 |
5.2 |
-1.9 |
|
Prior Service Cost |
-4.3 |
-4.4 |
-4.7 |
-4.4 |
-3.8 |
|
Welfare Pension Contribution Expense |
- |
- |
- |
0.9 |
1.0 |
|
Other Pension Cost |
9.0 |
5.6 |
5.1 |
6.1 |
5.1 |
|
Domestic Pension Plan Expense |
101.8 |
83.9 |
88.5 |
47.9 |
30.8 |
|
Total Pension Expense |
101.8 |
83.9 |
88.5 |
47.9 |
30.8 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
1.00% |
3.00% |
0.00% |
4.00% |
4.00% |
|
|
|
Annual Balance Sheet |
|
Financials
in: USD (mil) |
|
|
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated
Normal |
Updated
Normal |
Updated
Normal |
Updated
Normal |
Updated
Normal |
|
Filed
Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange
Rate |
76.94 |
81.105 |
93.095 |
90.65 |
111.715 |
|
Auditor |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
|
Auditor
Opinion |
Unqualified |
Unqualified
with Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
219.6 |
142.2 |
210.4 |
140.9 |
104.1 |
|
Note & A/C Rcvbl |
3,633.9 |
3,383.0 |
2,949.2 |
2,923.9 |
2,490.6 |
|
Securities |
- |
- |
0.0 |
3.3 |
0.5 |
|
Inventories |
- |
- |
- |
- |
809.5 |
|
Inventories -
merchandise&finished goods |
915.0 |
791.3 |
692.8 |
731.0 |
- |
|
Inventories - raw
materials&supplies |
418.9 |
384.4 |
353.9 |
339.5 |
- |
|
Defer Tax Asset |
168.7 |
180.3 |
120.0 |
99.4 |
62.0 |
|
Other Current |
628.7 |
380.3 |
354.0 |
377.5 |
273.0 |
|
Doubt Debt Allow |
-43.2 |
-70.1 |
-82.3 |
-66.7 |
-58.9 |
|
Total Current Assets |
5,941.6 |
5,191.4 |
4,597.9 |
4,548.7 |
3,680.9 |
|
|
|
|
|
|
|
|
Bldg & Structure |
5,185.9 |
4,915.7 |
4,474.9 |
4,566.8 |
3,703.3 |
|
Bldg & Structure-Depreciation |
-3,045.6 |
-2,773.7 |
-2,443.1 |
-2,404.0 |
-1,859.3 |
|
Machineries |
6,525.7 |
6,032.0 |
5,712.8 |
5,754.6 |
4,602.5 |
|
Machineries-Depreciation |
-4,921.2 |
-4,410.4 |
-3,984.2 |
-3,834.7 |
-2,947.5 |
|
Tools & Supplies |
1,552.4 |
1,509.6 |
1,353.8 |
1,239.3 |
1,056.0 |
|
Tools & Supplies-Depreciation |
-944.9 |
-923.3 |
-828.3 |
-738.5 |
-629.7 |
|
Lease Assets, gross |
379.0 |
236.2 |
111.2 |
0.0 |
- |
|
Lease Assets-Depreciation |
-120.7 |
-52.3 |
-13.0 |
0.0 |
- |
|
Land |
2,288.2 |
2,251.0 |
1,981.1 |
2,043.0 |
1,618.0 |
|
Constr in Progr |
69.6 |
82.8 |
68.6 |
67.2 |
30.9 |
|
Other PPE |
2.6 |
2.4 |
2.4 |
0.0 |
- |
|
Depreciation |
-1.4 |
-1.2 |
-0.8 |
0.0 |
- |
|
Goodwill (Dr.) |
2,396.8 |
1,037.8 |
1,077.5 |
669.3 |
584.7 |
|
Other intangible assets |
648.3 |
464.1 |
434.3 |
173.1 |
140.5 |
|
Inv Securities |
999.2 |
938.5 |
902.2 |
1,574.5 |
1,414.6 |
|
Equity secs.-nonconsol
affil.&sub |
2,069.5 |
1,967.4 |
1,314.5 |
- |
- |
|
LT Loans |
66.3 |
81.4 |
53.4 |
66.6 |
51.6 |
|
LT Prepaid |
111.8 |
106.2 |
115.3 |
133.6 |
101.3 |
|
Defer Tax Asset |
376.3 |
375.4 |
225.8 |
267.1 |
169.9 |
|
Other LT Asset |
356.1 |
346.7 |
267.4 |
277.0 |
201.3 |
|
Inv't
partnership-nonconsol.affil.&subs. |
22.6 |
22.5 |
22.6 |
- |
- |
|
Doubt Debt Allow |
-73.5 |
-72.7 |
-46.5 |
-73.3 |
-64.0 |
|
Rounding Adjustm |
- |
-0.1 |
0.0 |
- |
- |
|
Total Assets |
19,884.3 |
17,327.5 |
15,399.8 |
14,330.4 |
11,855.0 |
|
|
|
|
|
|
|
|
Note & A/C Pybl. |
1,358.6 |
1,269.3 |
1,084.9 |
1,099.5 |
901.6 |
|
ST Debt |
1,172.6 |
741.1 |
1,244.1 |
847.5 |
930.1 |
|
Current LT Debt |
603.9 |
112.9 |
272.9 |
206.6 |
331.8 |
|
Curr Corp Debt |
324.9 |
184.9 |
161.1 |
220.6 |
89.5 |
|
Lease Obligations |
80.6 |
49.5 |
21.8 |
0.0 |
- |
|
Alcohol Tax Pybl |
1,443.5 |
1,471.4 |
1,326.3 |
1,416.2 |
1,202.7 |
|
Sales Tax Pybl. |
226.3 |
105.8 |
95.8 |
95.3 |
74.8 |
|
Income Tax Pybl. |
325.2 |
400.6 |
258.8 |
249.9 |
125.3 |
|
Other Payable |
795.7 |
648.0 |
535.3 |
588.7 |
512.0 |
|
Accrued Expenses |
804.2 |
696.1 |
563.5 |
571.7 |
429.9 |
|
Deposit |
246.0 |
241.8 |
219.4 |
252.2 |
229.7 |
|
Commercial Paper |
363.9 |
172.6 |
322.3 |
77.2 |
465.5 |
|
Reserve for Bonuses |
39.7 |
34.7 |
27.5 |
0.0 |
- |
|
Other Current |
41.4 |
34.4 |
29.7 |
67.4 |
49.2 |
|
Total Current Liabilities |
7,826.4 |
6,163.2 |
6,163.3 |
5,692.9 |
5,342.1 |
|
|
|
|
|
|
|
|
Corporate Bond |
2,081.3 |
1,666.3 |
1,398.1 |
1,325.6 |
626.6 |
|
LT Debt |
523.5 |
962.0 |
811.0 |
656.8 |
532.4 |
|
Lease Obligations |
196.7 |
150.0 |
78.9 |
0.0 |
- |
|
Total Long Term Debt |
2,801.5 |
2,778.2 |
2,287.9 |
1,982.4 |
1,159.0 |
|
|
|
|
|
|
|
|
Accrued Retirem. |
284.0 |
305.0 |
260.5 |
259.4 |
213.2 |
|
Directors' Allow |
4.8 |
7.4 |
6.5 |
7.0 |
4.0 |
|
Defer Tax Liab |
85.8 |
59.6 |
52.2 |
67.4 |
44.9 |
|
Other LT Liab |
508.0 |
460.1 |
423.8 |
423.7 |
349.5 |
|
Asset retirement obligations |
6.2 |
0.0 |
- |
- |
- |
|
Min. Interest |
26.8 |
5.9 |
45.4 |
143.8 |
135.3 |
|
Total Liabilities |
11,543.6 |
9,779.4 |
9,239.7 |
8,576.5 |
7,248.1 |
|
|
|
|
|
|
|
|
Common Stock |
2,372.4 |
2,250.6 |
1,960.7 |
2,013.6 |
1,633.9 |
|
Paid In Capital |
1,959.8 |
1,860.7 |
1,622.5 |
1,667.4 |
1,354.0 |
|
Retained Earning |
4,403.5 |
3,640.1 |
2,708.5 |
2,362.8 |
1,594.0 |
|
Treasury Stock |
-367.8 |
-354.1 |
-314.5 |
-326.3 |
-131.4 |
|
Unreal Gain-Sec. |
-34.9 |
2.4 |
26.3 |
12.3 |
116.7 |
|
Revaluation residual |
- |
- |
0.0 |
19.3 |
0.0 |
|
Deferred hedge gain/loss |
0.0 |
8.5 |
-0.1 |
0.0 |
-0.4 |
|
Currency Adjust. |
7.6 |
140.0 |
156.7 |
4.9 |
40.1 |
|
Total Equity |
8,340.7 |
7,548.1 |
6,160.1 |
5,753.9 |
4,607.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
19,884.3 |
17,327.5 |
15,399.8 |
14,330.4 |
11,855.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
465.6 |
465.4 |
465.0 |
464.8 |
472.5 |
|
Total Common Shares Outstanding |
465.6 |
465.4 |
465.0 |
464.8 |
472.5 |
|
T/S-Common Stock |
18.0 |
18.2 |
18.6 |
18.8 |
11.1 |
|
Full-Time Employees |
16,759 |
16,712 |
17,316 |
16,357 |
15,599 |
|
Number of Common Shareholders |
123,931 |
131,262 |
119,908 |
115,450 |
115,588 |
|
LT debt maturing within 1yr |
976.8 |
508.2 |
434.0 |
427.2 |
421.3 |
|
LT debt maturing within 2yr |
204.5 |
879.5 |
236.4 |
453.5 |
343.4 |
|
LT debt maturing within 3yr |
328.8 |
191.0 |
777.5 |
254.4 |
436.3 |
|
LT debt maturing within 4yr |
343.0 |
246.6 |
162.3 |
156.9 |
136.6 |
|
LT debt maturing within 5yr |
395.1 |
320.6 |
214.8 |
167.0 |
116.0 |
|
LT debt maturing thereafer |
1,786.6 |
1,421.4 |
979.2 |
950.7 |
126.7 |
|
Total Long Term Debt, Supplemental |
4,034.8 |
3,567.2 |
2,804.2 |
2,409.6 |
1,580.3 |
|
Capital lease maturing within 1yr |
80.6 |
49.5 |
21.8 |
- |
- |
|
Capital lease maturing within 2yr |
80.1 |
51.2 |
22.6 |
- |
- |
|
Capital lease maturing within 3yr |
65.1 |
50.9 |
23.4 |
- |
- |
|
Capital lease maturing within 4yr |
38.5 |
36.3 |
22.6 |
- |
- |
|
Capital lease maturing within 5yr |
12.9 |
11.6 |
10.2 |
- |
- |
|
Remaining |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Capital Leases |
277.3 |
199.4 |
100.7 |
- |
- |
|
Pension Obligation |
1,193.8 |
1,145.8 |
963.4 |
962.5 |
772.2 |
|
Fair Value of Plan Assets |
584.2 |
549.2 |
459.2 |
404.7 |
381.8 |
|
Pension Retirement Trust |
279.4 |
275.1 |
201.0 |
164.4 |
191.0 |
|
Accumulated Obligation |
-330.2 |
-321.5 |
-303.3 |
-393.4 |
-199.4 |
|
Total Funded Status |
-330.2 |
-321.5 |
-303.3 |
-393.4 |
-199.4 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
1.00% |
3.00% |
0.00% |
4.00% |
4.00% |
|
Unrecognized Actuarial Gains and Losses |
224.3 |
193.5 |
162.5 |
208.0 |
21.5 |
|
Unrecognized Prior Service Cost |
-9.3 |
-21.3 |
-23.6 |
-29.1 |
-27.7 |
|
Prepaid Pension Benefits |
168.8 |
155.7 |
96.2 |
44.9 |
7.7 |
|
Reserve for Accrued Retirement Benefits |
-284.0 |
-305.0 |
-260.5 |
-259.4 |
-213.2 |
|
Net Assets Recognized on Balance Sheet |
99.8 |
22.8 |
-25.4 |
-35.6 |
-211.6 |
|
|
|
Annual Cash Flows |
|
Financials
in: USD (mil) |
|
|
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-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) |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
117.767199 |
|
Auditor |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
KPMG
LLP |
|
Auditor
Opinion |
Unqualified |
Unqualified
with Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income Before Tax |
1,134.6 |
1,053.2 |
940.8 |
802.1 |
694.1 |
|
Depreciation |
729.4 |
680.1 |
623.5 |
458.0 |
384.2 |
|
Assets impairment losses |
0.0 |
154.6 |
88.8 |
21.2 |
11.8 |
|
Amortization of goodwill |
85.3 |
67.6 |
56.5 |
38.6 |
21.1 |
|
Accrued Retirement |
-17.9 |
24.4 |
8.2 |
-31.6 |
-33.2 |
|
Doubt Debt Allow |
-22.7 |
-2.7 |
-8.0 |
-5.1 |
-29.5 |
|
Interest & Dividend |
-18.4 |
-19.4 |
-29.4 |
-17.4 |
-17.4 |
|
Interest Expenses |
46.0 |
49.3 |
49.4 |
50.2 |
42.6 |
|
Equity in Affiliate |
-68.7 |
-112.2 |
-90.9 |
-88.1 |
-76.5 |
|
Inv Sec Sold |
-6.7 |
-7.6 |
1.0 |
-0.3 |
6.0 |
|
Reval.-Inv Sec. |
27.5 |
11.4 |
8.4 |
34.8 |
2.9 |
|
G/L on Sale of Affiliate Sec. |
-58.7 |
-368.3 |
-171.9 |
0.0 |
- |
|
Fixed Asset Sold |
-32.7 |
-7.4 |
-8.3 |
-1.3 |
-10.6 |
|
Restructuring Exp. |
9.2 |
225.3 |
0.0 |
- |
- |
|
Fixed Asset Retired |
46.4 |
68.2 |
106.3 |
42.0 |
56.8 |
|
L on Collected Gift Cards |
- |
- |
- |
0.0 |
13.1 |
|
Accounts Receivable |
-10.5 |
-2.9 |
-9.5 |
150.6 |
-17.4 |
|
Inventories |
-38.8 |
19.5 |
53.9 |
-67.3 |
11.4 |
|
Accounts Payable |
-11.2 |
25.7 |
-30.1 |
-39.7 |
-23.1 |
|
Alcohol Tax Pybl. |
-116.6 |
-47.0 |
-52.4 |
-57.7 |
15.6 |
|
Sales Tax Pybl. |
-17.8 |
-4.0 |
2.9 |
4.1 |
-1.1 |
|
Directors Ben. Paid |
-4.7 |
-4.0 |
-3.7 |
-2.7 |
-1.3 |
|
Other Op. CF |
265.7 |
78.3 |
26.6 |
80.5 |
-74.6 |
|
Interest & Dividend |
72.1 |
79.3 |
76.5 |
20.0 |
55.0 |
|
Interest Paid |
-42.0 |
-46.6 |
-49.2 |
-50.2 |
-44.2 |
|
Taxes Paid |
-587.1 |
-484.1 |
-453.2 |
-314.7 |
-395.0 |
|
Consolidated Cash |
- |
- |
- |
- |
2.3 |
|
Adjustment |
-0.1 |
- |
- |
-0.1 |
- |
|
Cash from Operating Activities |
1,361.5 |
1,430.8 |
1,136.0 |
1,026.1 |
593.1 |
|
|
|
|
|
|
|
|
Time Deposit Made |
-7.3 |
-9.6 |
-35.9 |
-6.3 |
-6.1 |
|
Time Deposit Matured |
9.2 |
17.4 |
23.9 |
12.5 |
0.3 |
|
Securities Sold |
- |
- |
0.0 |
0.0 |
43.5 |
|
Capital Expenditure |
-294.8 |
-289.0 |
-375.1 |
-350.0 |
-300.9 |
|
Fixed Asset Sold |
60.9 |
28.5 |
12.8 |
7.2 |
24.7 |
|
Intangibles Bought |
-38.9 |
-54.4 |
-250.1 |
-43.8 |
-50.7 |
|
Sale Intangible |
1.1 |
1.0 |
0.1 |
0.0 |
1.1 |
|
Inv Sec Bought |
-104.8 |
-572.6 |
-884.8 |
-82.8 |
-243.3 |
|
Inv Sec Sold |
12.3 |
529.5 |
420.1 |
11.3 |
2.8 |
|
Purchase of subs' sec. |
0.0 |
-33.3 |
-164.1 |
-28.3 |
-442.3 |
|
Inflow-Sale subs' sec.-con change |
37.8 |
0.0 |
- |
- |
- |
|
Out-Purch. Sub. Stocks-Con change |
- |
0.0 |
-641.3 |
-52.4 |
0.0 |
|
Out-Purch. Sub. Stocks-Con change |
-1,783.5 |
- |
- |
- |
- |
|
Inflow-Purch. Sub. sec..-con
change |
- |
- |
0.0 |
20.8 |
0.0 |
|
Outflow-Sale subs' sec.-con change |
- |
0.0 |
-0.2 |
-1.7 |
-7.2 |
|
Operation Transfered |
0.0 |
-60.8 |
0.0 |
- |
- |
|
Loans Made |
-12.9 |
-23.6 |
-36.0 |
-31.3 |
-27.2 |
|
Loans Returned |
16.1 |
24.3 |
28.1 |
34.7 |
24.8 |
|
Other Investing CF |
-43.7 |
-33.5 |
-26.8 |
-53.2 |
-20.0 |
|
Cash from Investing Activities |
-2,148.5 |
-476.0 |
-1,929.5 |
-563.2 |
-1,000.5 |
|
|
|
|
|
|
|
|
ST Debt,net |
618.3 |
-812.5 |
658.2 |
-697.3 |
561.3 |
|
Repayment of Lease |
-64.5 |
-35.1 |
-12.0 |
0.0 |
- |
|
LT Debt Proceed |
63.3 |
122.1 |
448.6 |
233.5 |
154.6 |
|
LT Debt Repaid |
-68.9 |
-259.7 |
-210.9 |
-332.5 |
-210.3 |
|
Corp Debt Issued |
627.4 |
227.8 |
267.0 |
678.7 |
212.3 |
|
Corp Debt Repaid |
-188.2 |
-170.9 |
-213.6 |
-96.7 |
-339.7 |
|
Treasury Repurchased |
-0.1 |
-0.3 |
-0.3 |
-148.4 |
-2.0 |
|
Dividend Paid |
-140.2 |
-113.9 |
-101.8 |
-86.1 |
-80.1 |
|
Minority Dividend |
- |
0.0 |
-0.6 |
-0.9 |
-3.7 |
|
Paid in Minority |
0.5 |
0.0 |
7.6 |
0.0 |
2.7 |
|
Other Finacing CF |
-5.8 |
7.8 |
-3.2 |
1.3 |
11.5 |
|
Cash from Financing Activities |
841.8 |
-1,034.6 |
839.0 |
-448.4 |
306.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
10.3 |
-3.0 |
6.9 |
-5.2 |
-1.5 |
|
Net Change in Cash |
65.1 |
-82.8 |
52.4 |
9.2 |
-102.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
137.4 |
206.0 |
140.7 |
113.6 |
201.9 |
|
Net Cash - Ending Balance |
202.5 |
123.2 |
193.1 |
122.8 |
99.7 |
|
Cash Interest Paid |
42.0 |
46.6 |
49.2 |
50.2 |
44.2 |
|
Cash Taxes Paid |
587.1 |
484.1 |
453.2 |
314.7 |
395.0 |
|
|
|
Financials in: USD (mil) |
|
|
Except for share items
(millions) and per share items (actual units) |
|
|
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|
|
Financials in: USD (mil) |
|
|
Except for share items (millions)
and per share items (actual units) |
|
|
|
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.38 |
|
|
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.69.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.