MIRA
INFORM REPORT
|
Report Date : |
07.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHINO CORPORATION |
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Registered Office : |
32-8,
Kumano-cho, Itabashi-ku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
01.08.1936 |
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Legal Form : |
Public Independent |
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Line of Business : |
Manufacture and sale of measuring control equipment, |
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No. of Employees : |
931 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
|
Source : CIA |
Company name and address
CHINO
CORPORATION
32-8,
Kumano-cho, Itabashi-ku
Tokyo,
173-8632
Japan
Tel: 81-3-39562111
Fax: 81-3-39566762
Website: www.chino.co.jp
Employees: 931
Company Type: Public
Independent
Traded: Tokyo
Stock Exchange: 6850
Incorporation Date: 01-Aug-1936
Auditor: Otemon
Audit Corporation
Financials in: USD
(Millions)
Fiscal Year End: 31-Mar-2012
Reporting Currency: Japanese
Yen
Net Income: 3.5
Market Value: 113.2
(22-Nov-2012)
Business Description
Chino
Corporation is a manufacturing company. The Company operates in four business
segments. The Measuring Control Equipment segment is engaged in the manufacture
and sale of measuring control equipment, such as analog recorders, hybrid
recorders and graphic recorders, among others. The Instrumentation System
segment is engaged in the manufacture and sale of testing equipment for
compressor performance and semiconductor aging, and other system equipment. The
Sensor segment is engaged in the manufacture and sale of sensors for optical
components and other sensors. The Others segment is involved in the provision
of repair and maintenance services, the sale of measuring equipment and
sensors, the production and sale of software, as well as the customized
development and sale of sensor modules. On April 1, 2012, it merged with its
wholly owned subsidiary. For the three months ended 30 June 2012, Chino
Corporation revenues decreased 7% to Y3.79B. Net loss applicable to common
stockholders totaled Y57.6M vs. income of Y32.7M. Revenues reflect
Instrumentation System Business segment decrease of 16% to Y1.16B, Measurement
And Control Equipment Business segment decrease of 4% to Y1.5B, Sensor Business
segment decrease of 1% to Y885.7M.
Industry
|
Industry |
|
|
ANZSIC 2006: |
2419 -
Other Professional and Scientific Equipment Manufacturing |
|
NACE 2002: |
|
|
NAICS 2002: |
334515 -
Instrument Manufacturing for Measuring and Testing Electricity and Electrical
Signals |
|
UK SIC 2003: |
|
|
UK SIC 2007: |
2651 -
Manufacture of instruments and appliances for measuring, testing and
navigation |
|
US SIC 1987: |
3825 -
Instruments for Measuring and Testing of Electricity and Electrical Signals |
Key Executives
|
Name |
Title |
Source |
|
President, Chief Director of Global Strategy, Chairman of Subsidiary,
Representative Director |
Reuters |
|
|
Managing Director, Chief Director of Sales, Manager of Tokyo Office |
Reuters |
|
|
Senior Director of SS Development, Manager of Technology Development
Center, Director |
Reuters |
|
|
Ikuo Kadota |
Co-Managing Director |
infoUSA |
|
Hiroyuki Doi |
Co-Auditor |
infoUSA |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
1 |
Chino Corp
Lowers Consolidated Mid-year and Full-year Outlook for FY Ending March 31,
2013 |
6-Nov-2012 |
|
|
2 |
26-Oct-2012 |
||
|
1 |
Chino
Corporation Amends Consolidated Full-year Outlook for FY 2012 |
2-May-2012 |
* number of
significant developments within the last 12 months
News
|
Title |
Date |
|
Inland
Valley Daily Bulletin, Calif., David Allen column |
5-Dec-2012 |
|
Edison
presents preliminary cost information on placing underground power lines in
Chino Hills |
4-Dec-2012 |
|
EDITORIAL:
Chino Hills is progressing well on shuttering maternity 'hotel,' but some
help wouldn't hurt |
4-Dec-2012 |
|
Alleged
maternity hotel operation prompts criminal complaint against homeowner |
4-Dec-2012 |
|
Here is the
latest California news from The Associated Press |
4-Dec-2012 |
Financial Summary
As of 30-Jun-2012
|
Key Ratios |
Company |
Industry |
|
Current Ratio (MRQ) |
2.58 |
2.32 |
|
Quick Ratio (MRQ) |
1.87 |
1.43 |
|
Debt to Equity (MRQ) |
0.08 |
0.56 |
|
Sales 5 Year Growth |
-1.61 |
8.07 |
|
Net Profit Margin (TTM) % |
1.44 |
6.72 |
|
Return on Assets (TTM) % |
1.27 |
5.54 |
|
Return on Equity (TTM) % |
1.50 |
13.32 |
Stock Snapshot
|
Traded: Tokyo Stock Exchange: 6850 |
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As of 22-Nov-2012 Financials in: JPY |
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1 - Profit & Loss Item
Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate:
USD 1 = JPY 82.38536
Corporate Overview
Location
32-8, Kumano-cho, Itabashi-ku
Tokyo, 173-8632
Japan
Tel: 81-3-39562111
Fax: 81-3-39566762
Website: www.chino.co.jp
Quote
Symbol - Exchange
6850 -
Tokyo Stock Exchange
Sales
JPY(mil): 18,212.6
Assets
JPY(mil): 20,946.5
Employees: 931
Fiscal Year
End: 31-Mar-2012
Industry: Scientific and Technical
Instruments
Incorporation
Date: 01-Aug-1936
Company
Type: Public Independent
Quoted
Status: Quoted
Co-Managing
Director: Ikuo Kadota
Industry
Codes
|
Industry |
|
|
ANZSIC 2006: |
2419 -
Other Professional and Scientific Equipment Manufacturing |
|
NACE 2002: |
|
|
NAICS 2002: |
334515 -
Instrument Manufacturing for Measuring and Testing Electricity and Electrical
Signals |
|
UK SIC 2003: |
|
|
UK SIC 2007: |
2651 -
Manufacture of instruments and appliances for measuring, testing and
navigation |
|
US SIC 1987: |
3825 -
Instruments for Measuring and Testing of Electricity and Electrical Signals |
Business
Description
Chino Corporation is a manufacturing company. The Company
operates in four business segments. The Measuring Control Equipment segment is
engaged in the manufacture and sale of measuring control equipment, such as
analog recorders, hybrid recorders and graphic recorders, among others. The
Instrumentation System segment is engaged in the manufacture and sale of
testing equipment for compressor performance and semiconductor aging, and other
system equipment. The Sensor segment is engaged in the manufacture and sale of
sensors for optical components and other sensors. The Others segment is
involved in the provision of repair and maintenance services, the sale of
measuring equipment and sensors, the production and sale of software, as well
as the customized development and sale of sensor modules. On April 1, 2012, it
merged with its wholly owned subsidiary. For the three months ended 30 June
2012, Chino Corporation revenues decreased 7% to Y3.79B. Net loss applicable to
common stockholders totaled Y57.6M vs. income of Y32.7M. Revenues reflect
Instrumentation System Business segment decrease of 16% to Y1.16B, Measurement
And Control Equipment Business segment decrease of 4% to Y1.5B, Sensor Business
segment decrease of 1% to Y885.7M.
More Business Descriptions
Manufacture
of electrical instruments: measuring and temperature controls
Navigational,
Measuring, Medical, and Control Instruments Manufacturing
Financial
Data
|
Financials
in: |
JPY(mil) |
1 Year
Growth |
|
Revenue: |
18,212.6 |
11.2% |
|
Net Income: |
278.9 |
-18.8% |
|
Assets: |
20,946.5 |
2.0% |
|
Long Term
Debt: |
270.4 |
|
|
Total
Liabilities: |
8,084.7 |
|
|
Working
Capital: |
9.7 |
|
|
Date of
Financial Data: |
31-Mar-2012 |
|
Market
Data
|
Quote Symbol: |
6850 |
|
Exchange: |
Tokyo Stock Exchange |
|
Currency: |
JPY |
|
Stock Price: |
195.0 |
|
Stock Price Date: |
11-22-2012 |
|
52 Week Price Change %: |
8.3 |
|
Market Value (mil): |
9,321,113.0 |
|
SEDOL: |
6190905 |
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ISIN: |
JP3511000006 |
Equity and Dept Distribution:
FY'99-'02
WAS & FY'04 &'05 & '06 1&3Q, FY'07 Q1 WAS & O/S were
estimated. FY06 AR DPS was estimated. FY'08 Q1&Q3 O/S=WAS.
Major
Shareholders
Company's
Trust Stock (10.1%); Customers' Stockholding (9.1%)
Key Corporate Relationships
Auditor: Otemon Audit Corporation
Auditor: Otemon Audit Corporation
Board of Directors
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Chairman |
Chairman |
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Director |
Director/Board
Member |
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Manager
of Nagoya Office, Director |
Director/Board
Member |
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President,
Chief Director of Global Strategy, Chairman of Subsidiary, Representative Director |
Director/Board
Member |
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Vice
President, Director |
Director/Board
Member |
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Managing
Director, Chief Director of Global Production Management |
Director/Board
Member |
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Managing
Director, Senior Director of Overseas Business |
Director/Board
Member |
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Managing
Director, Chief Director of Sales, Manager of Tokyo Office |
Director/Board
Member |
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Director |
Director/Board
Member |
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Manager
of Osaka Office, Director |
Director/Board
Member |
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||||||
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Senior
Managing Director, Chief Director of Administration, Manager of President's
Office |
Director/Board
Member |
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|
Senior
Director of SS Development, Manager of Technology Development Center,
Director |
Director/Board
Member |
|
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||||||
|
Manager
of Fujioka Business Center, Director |
Director/Board
Member |
|
|||
|
||||||
|
Manager
of Northern Office, Director |
Director/Board
Member |
|
|||
|
||||||
|
Managing Director,
Senior Director of Sales Strategy, Manager of Kuki Business Center |
Director/Board
Member |
|
|||
|
||||||
|
Director |
Director/Board
Member |
|
|||
Executives
|
|
|
|||||
|
Co-Managing Director |
Chief Executive Officer |
|||||
|
President, Chief Director of Global Strategy,
Chairman of Subsidiary, Representative Director |
President |
|||||
|
|||||||
|
Manager of Nagoya Office, Director |
Division Head Executive |
|
||||
|
|||||||
|
Manager of Osaka Office, Director |
Division Head Executive |
|
||||
|
|||||||
|
Manager of Northern Office, Director |
Division Head Executive |
|
||||
|
|||||||
|
Managing Director, Chief Director of Global
Production Management |
Managing Director |
|
||||
|
|||||||
|
Managing Director, Senior Director of Overseas
Business |
Managing Director |
|
||||
|
|||||||
|
Managing Director, Chief Director of Sales, Manager
of Tokyo Office |
Managing Director |
|
||||
|
|||||||
|
Senior Managing Director, Chief Director of
Administration, Manager of President's Office |
Managing Director |
|
||||
|
|||||||
|
Managing Director, Senior Director of Sales
Strategy, Manager of Kuki Business Center |
Managing Director |
|
||||
|
|||||||
|
Co-Auditor |
Finance Executive |
|
||||
|
Co-Auditor |
Finance Executive |
|
||||
|
Co-Auditor |
Finance Executive |
|
||||
|
Co-Auditor |
Finance Executive |
|
||||
|
Senior Director of SS Development, Manager of
Technology Development Center, Director |
Engineering/Technical Executive |
|
||||
|
Biography: |
|
|
|
||||
|
Mr. Takao Shimizu has been serving as Senior Director of SS
Development, Manager of Technology Development Center and Director in Chino Corporation
since June 2012. He joined the Company in April 1976. His previous titles
include Manager of Light Sensor Technology Development Office and Manager of
Measuring Technology Development Center in the Company. |
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||||
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Age: 58 |
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|
||||
Significant Developments
Chino Corp
Lowers Consolidated Mid-year and Full-year Outlook for FY Ending March 31, 2013
Nov 06,
2012
Chino Corp announced that it has lowered its consolidated mid-year outlook for revenue
from JPY 9,100 million to JPY 7,700 million, operating profit (loss) from JPY
440 million to JPY (40 million), ordinary profit from JPY 460 million to JPY 8
million, net profit (loss) from JPY 280 million to JPY (90 million) and earning
per share (loss) from JPY 6.68 to JPY (2.14) for the fiscal year ending March
31, 2013. The Company also lowered its consolidated full-year outlook for
revenue from JPY 19,100 million to JPY 18,000 million, operating profit from
JPY 1,020 million to JPY 540 million, ordinary profit from JPY 1,070 million to
JPY 620 million, net profit from JPY 650 million to JPY 310 million and earning
per share from JPY 15.50 to JPY 7.38 for the same fiscal year.
Chino Corp
Establishes New Joint Venture with MHCB Consulting (Thailand) Co., Ltd. and
AUTOMATION SERVICE CO., LTD.
Oct 26,
2012
Chino Corp announced that it has establish a new joint venture, CHINO
Corporation (Thailand) Limited, which is engaged in the sale and services of
measurement controller, sensor and related equipment in Association of
Southeast Asian Nations (ASEAN) area in Thailand, with MHCB Consulting
(Thailand) Co., Ltd. and AUTOMATION SERVICE CO., LTD., on October 19, 2012. The
Company, MHCB Consulting (Thailand) Co., Ltd. and AUTOMATION SERVICE CO., LTD.,
hold 49%, 27% and 24% stakes in CHINO Corporation (Thailand) Limited,
respectively.
Chino
Corporation to Establish Thailand-based Joint Venture
Aug 08,
2012
Chino Corporation announced that it has decided to establish a Thailand-based
joint venture CHINO (Thailand) Co., Ltd., which will be engaged in the sale and
service of measurement and controlling equipment, censor as well as related
equipment, with a Thailand-based partner, in October 2012. The Company and the
Thailand-based partner will each hold a 49% and 51% stake in the joint venture.
Chino
Corporation Amends Consolidated Full-year Outlook for FY 2012
May 02,
2012
Chino Corporation announced that it has raised its consolidated full-year
outlook for revenue from JPY 17,800 million to JPY 18,210 million, but lowered
the outlook for operating profit from JPY 1,030 million to JPY 800 million,
ordinary profit from JPY 1,000 million to JPY 830 million, net profit from JPY
460 million to JPY 270 million and earning per share from JPY 10.71 to JPY 6.30,
for the fiscal year ended March 2012. The Company lowered the profit outlook
due to the fierce business competition as well as the reversal of deferred tax
assets, among others.
News
|
Inland
Valley Daily Bulletin, Calif., David Allen column |
05-Dec-2012 |
|
Edison presents
preliminary cost information on placing underground power lines in Chino
Hills |
04-Dec-2012 |
|
EDITORIAL:
Chino Hills is progressing well on shuttering maternity 'hotel,' but some
help wouldn't hurt |
04-Dec-2012 |
|
Alleged
maternity hotel operation prompts criminal complaint against homeowner |
04-Dec-2012 |
|
Here is the
latest California news from The Associated Press |
04-Dec-2012 |
|
Seek
shutdown of 'birth tourism' house |
04-Dec-2012 |
|
Edison to
submit preliminary information on undergrounding power lines in Chino Hills |
04-Dec-2012 |
|
Chino Hills
officials to file criminal complaint against homeowner on alleged maternity
hotel operation |
04-Dec-2012 |
|
Chino Hills
seeks to close home used by pregnant Chinese women |
04-Dec-2012 |
|
Ca. city
says it's shutting down 'maternity hotel' |
04-Dec-2012 |
Articles
|
CVB
Financial Founder Steps Down from Board |
13-Nov-2012 |
|
Chino
Commercial Bancorp Reports 3rd Quarter Earnings |
30-Oct-2012 |
|
Chino
Commercial Bancorp Posts 3rd Quarter Earnings |
29-Oct-2012 |
|
-Chino
Commercial Bancorp swings into USD124,000 profit in Q2 |
23-Jul-2012 |
|
United States
: Arizona State Credit Union Expands Chino Valley Branch To Better Serve
Members |
13-Jun-2012 |
|
-Chino
Commercial Bancorp extends stock offering |
03-May-2012 |
|
-Chino
Commercial Bancorp reports fiscal results |
24-Apr-2012 |
|
-Chino
Commercial Bancorp extends deadline for public offering |
05-Apr-2012 |
|
New
investments: Wedbush Capital Partners has bought an ethnic food manufacturer
in Chino |
05-Mar-2012 |
|
Chino Commercial
Stock Offering Extended |
09-Feb-2012 |
Annual Income Statement
Financials
in: USD (mil)
Except for
share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
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) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
|
Auditor
Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net
Sales |
230.7 |
191.1 |
147.0 |
171.6 |
174.2 |
|
Revenue |
230.7 |
191.1 |
147.0 |
171.6 |
174.2 |
|
Total
Revenue |
230.7 |
191.1 |
147.0 |
171.6 |
174.2 |
|
|
|
|
|
|
|
|
Cost
of Revenue |
158.9 |
130.5 |
104.8 |
124.6 |
121.4 |
|
Cost
of Revenue, Total |
158.9 |
130.5 |
104.8 |
124.6 |
121.4 |
|
Gross
Profit |
71.7 |
60.6 |
42.2 |
47.0 |
52.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
22.6 |
20.0 |
19.1 |
16.8 |
15.7 |
|
Labor
& Related Expense |
31.1 |
26.7 |
22.5 |
21.8 |
19.3 |
|
Total
Selling/General/Administrative Expenses |
53.7 |
46.8 |
41.6 |
38.7 |
34.9 |
|
Research
& Development |
6.1 |
3.6 |
2.8 |
4.7 |
4.5 |
|
Depreciation |
1.8 |
1.2 |
1.2 |
1.2 |
1.0 |
|
Depreciation/Amortization |
1.8 |
1.2 |
1.2 |
1.2 |
1.0 |
|
Impairment-Assets
Held for Sale |
- |
0.0 |
0.3 |
0.1 |
0.6 |
|
Other
Unusual Expense (Income) |
0.4 |
-0.1 |
0.1 |
0.0 |
0.1 |
|
Unusual
Expense (Income) |
0.4 |
-0.1 |
0.4 |
0.1 |
0.7 |
|
Total
Operating Expense |
220.9 |
182.0 |
150.8 |
169.2 |
162.5 |
|
|
|
|
|
|
|
|
Operating
Income |
9.8 |
9.1 |
-3.8 |
2.4 |
11.7 |
|
|
|
|
|
|
|
|
Interest
Expense - Non-Operating |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Interest
Expense, Net Non-Operating |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Interest
Income - Non-Operating |
0.4 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Investment
Income - Non-Operating |
0.2 |
-0.6 |
0.3 |
-0.7 |
-0.1 |
|
Interest/Investment
Income - Non-Operating |
0.6 |
-0.3 |
0.6 |
-0.5 |
0.1 |
|
Interest
Income (Expense) - Net Non-Operating Total |
0.5 |
-0.4 |
0.5 |
-0.6 |
0.0 |
|
Gain
(Loss) on Sale of Assets |
-1.0 |
-0.2 |
-0.1 |
-0.3 |
-0.1 |
|
Other
Non-Operating Income (Expense) |
0.0 |
-0.2 |
-1.4 |
-0.7 |
-1.3 |
|
Other,
Net |
0.0 |
-0.2 |
-1.4 |
-0.7 |
-1.3 |
|
Income
Before Tax |
9.2 |
8.3 |
-4.7 |
0.8 |
10.3 |
|
|
|
|
|
|
|
|
Total
Income Tax |
4.9 |
3.7 |
-1.4 |
0.6 |
3.8 |
|
Income
After Tax |
4.3 |
4.6 |
-3.4 |
0.2 |
6.6 |
|
|
|
|
|
|
|
|
Minority
Interest |
-0.8 |
-0.6 |
-0.7 |
-0.4 |
-0.7 |
|
Net
Income Before Extraord Items |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
Net
Income |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
|
|
|
|
|
|
|
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 |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
|
|
|
|
|
|
|
Income
Available to Common Incl Extraord Items |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
|
|
|
|
|
|
|
Basic/Primary
Weighted Average Shares |
42.8 |
42.9 |
43.0 |
43.1 |
43.6 |
|
Basic EPS
Excl Extraord Items |
0.08 |
0.09 |
-0.09 |
0.00 |
0.13 |
|
Basic/Primary
EPS Incl Extraord Items |
0.08 |
0.09 |
-0.09 |
0.00 |
0.13 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted
Net Income |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
Diluted
Weighted Average Shares |
42.8 |
42.9 |
43.0 |
43.1 |
43.6 |
|
Diluted
EPS Excl Extraord Items |
0.08 |
0.09 |
-0.09 |
0.00 |
0.13 |
|
Diluted EPS
Incl Extraord Items |
0.08 |
0.09 |
-0.09 |
0.00 |
0.13 |
|
Dividends
per Share - Common Stock Primary Issue |
0.09 |
0.06 |
0.04 |
0.05 |
0.06 |
|
Gross
Dividends - Common Stock |
3.8 |
2.5 |
1.8 |
2.1 |
2.6 |
|
Interest
Expense, Supplemental |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Depreciation,
Supplemental |
8.2 |
7.8 |
7.9 |
7.7 |
6.2 |
|
Total
Special Items |
2.0 |
0.7 |
0.9 |
0.6 |
1.1 |
|
Normalized
Income Before Tax |
11.2 |
9.0 |
-3.8 |
1.5 |
11.4 |
|
|
|
|
|
|
|
|
Effect of
Special Items on Income Taxes |
0.8 |
0.0 |
0.2 |
0.1 |
0.3 |
|
Inc Tax
Ex Impact of Sp Items |
5.7 |
3.7 |
-1.2 |
0.7 |
4.1 |
|
Normalized
Income After Tax |
5.5 |
5.3 |
-2.6 |
0.7 |
7.3 |
|
|
|
|
|
|
|
|
Normalized
Inc. Avail to Com. |
4.7 |
4.7 |
-3.3 |
0.3 |
6.6 |
|
|
|
|
|
|
|
|
Basic
Normalized EPS |
0.11 |
0.11 |
-0.08 |
0.01 |
0.15 |
|
Diluted
Normalized EPS |
0.11 |
0.11 |
-0.08 |
0.01 |
0.15 |
|
Amort of
Acquisition Costs, Supplemental |
0.5 |
0.7 |
0.5 |
0.3 |
0.2 |
|
Research
& Development Exp, Supplemental |
11.4 |
10.1 |
9.0 |
14.9 |
13.3 |
|
Reported
Operating Profit |
10.2 |
9.0 |
-3.4 |
2.5 |
12.4 |
|
Reported
Ordinary Profit |
10.6 |
8.4 |
-4.1 |
1.2 |
11.2 |
|
Normalized
EBIT |
10.2 |
9.0 |
-3.4 |
2.5 |
12.4 |
|
Normalized
EBITDA |
18.9 |
17.5 |
5.0 |
10.5 |
18.8 |
|
Interest
Cost - Domestic |
0.9 |
0.9 |
0.8 |
0.8 |
0.7 |
|
Service
Cost - Domestic |
2.3 |
2.2 |
2.0 |
1.9 |
1.8 |
|
Expected
Return on Assets - Domestic |
-0.5 |
-0.4 |
-0.5 |
-0.6 |
-0.5 |
|
Actuarial
Gains and Losses - Domestic |
0.9 |
1.0 |
1.1 |
0.7 |
0.1 |
|
Transition
Costs - Domestic |
0.0 |
0.0 |
2.4 |
2.3 |
2.0 |
|
Domestic
Pension Plan Expense |
3.7 |
3.6 |
5.8 |
5.1 |
4.2 |
|
Defined
Contribution Expense - Domestic |
0.2 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Total
Pension Expense |
3.9 |
3.8 |
6.0 |
5.2 |
4.2 |
|
Discount
Rate - Domestic |
1.75% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected
Rate of Return - Domestic |
3.00% |
3.00% |
4.50% |
4.50% |
4.50% |
|
Total
Plan Interest Cost |
0.9 |
0.9 |
0.8 |
0.8 |
0.7 |
|
Total
Plan Service Cost |
2.3 |
2.2 |
2.0 |
1.9 |
1.8 |
|
Total
Plan Expected Return |
-0.5 |
-0.4 |
-0.5 |
-0.6 |
-0.5 |
Annual Balance Sheet
Financials in:
USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed
Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange
Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
|
Auditor
Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash
& Equivalents |
55.1 |
45.2 |
43.7 |
33.1 |
31.2 |
|
Short
Term Investments |
0.0 |
13.3 |
2.8 |
2.0 |
0.5 |
|
Cash
and Short Term Investments |
55.1 |
58.5 |
46.5 |
35.1 |
31.7 |
|
Accounts
Receivable - Trade, Gross |
68.7 |
64.5 |
59.9 |
70.6 |
91.8 |
|
Provision
for Doubtful Accounts |
-0.1 |
-0.1 |
-0.3 |
-0.2 |
-0.2 |
|
Trade
Accounts Receivable - Net |
68.6 |
64.4 |
59.6 |
70.4 |
91.6 |
|
Total
Receivables, Net |
68.6 |
64.4 |
59.6 |
70.4 |
91.6 |
|
Inventories
- Finished Goods |
11.8 |
11.8 |
9.5 |
7.1 |
7.5 |
|
Inventories
- Work In Progress |
11.3 |
10.7 |
8.7 |
6.4 |
7.6 |
|
Inventories
- Raw Materials |
21.0 |
15.6 |
12.4 |
12.1 |
11.7 |
|
Total
Inventory |
44.1 |
38.1 |
30.6 |
25.6 |
26.7 |
|
Deferred
Income Tax - Current Asset |
4.0 |
5.2 |
5.8 |
3.9 |
3.0 |
|
Other
Current Assets |
2.8 |
2.3 |
2.2 |
3.2 |
1.6 |
|
Other
Current Assets, Total |
6.9 |
7.5 |
8.1 |
7.1 |
4.6 |
|
Total
Current Assets |
174.7 |
168.5 |
144.8 |
138.3 |
154.6 |
|
|
|
|
|
|
|
|
Buildings |
67.8 |
65.6 |
55.2 |
52.1 |
51.7 |
|
Land/Improvements |
13.0 |
12.6 |
11.3 |
10.5 |
11.0 |
|
Machinery/Equipment |
33.3 |
33.4 |
29.2 |
28.0 |
27.2 |
|
Construction
in Progress |
0.2 |
1.5 |
1.3 |
1.1 |
0.8 |
|
Other
Property/Plant/Equipment |
53.3 |
51.3 |
45.2 |
42.1 |
41.3 |
|
Property/Plant/Equipment
- Gross |
167.5 |
164.3 |
142.3 |
133.8 |
132.0 |
|
Accumulated
Depreciation |
-124.5 |
-121.4 |
-105.5 |
-95.6 |
-91.2 |
|
Property/Plant/Equipment
- Net |
43.0 |
42.9 |
36.7 |
38.2 |
40.7 |
|
Goodwill,
Net |
2.7 |
3.2 |
3.4 |
2.6 |
0.0 |
|
Intangibles,
Net |
4.1 |
3.8 |
1.9 |
1.7 |
2.6 |
|
LT
Investment - Affiliate Companies |
0.0 |
- |
- |
- |
- |
|
LT
Investments - Other |
13.9 |
11.8 |
10.1 |
7.8 |
11.2 |
|
Long
Term Investments |
13.9 |
11.8 |
10.1 |
7.8 |
11.2 |
|
Deferred
Income Tax - Long Term Asset |
7.5 |
9.2 |
7.8 |
6.7 |
5.8 |
|
Other
Long Term Assets |
8.4 |
8.2 |
6.9 |
5.9 |
10.3 |
|
Other
Long Term Assets, Total |
15.9 |
17.5 |
14.7 |
12.6 |
16.1 |
|
Total
Assets |
254.3 |
247.7 |
211.8 |
201.2 |
225.2 |
|
|
|
|
|
|
|
|
Accounts
Payable |
40.2 |
37.6 |
29.5 |
26.1 |
36.7 |
|
Accrued
Expenses |
5.2 |
3.7 |
2.9 |
3.7 |
4.9 |
|
Notes
Payable/Short Term Debt |
10.4 |
8.7 |
7.8 |
7.4 |
7.1 |
|
Current
Portion - Long Term Debt/Capital Leases |
- |
0.5 |
0.1 |
0.1 |
- |
|
Income
Taxes Payable |
1.4 |
1.9 |
1.1 |
0.7 |
2.0 |
|
Other
Current Liabilities |
9.0 |
7.4 |
3.9 |
4.8 |
6.8 |
|
Other
Current liabilities, Total |
10.3 |
9.3 |
5.0 |
5.6 |
8.8 |
|
Total
Current Liabilities |
66.1 |
59.7 |
45.3 |
42.7 |
57.5 |
|
|
|
|
|
|
|
|
Long
Term Debt |
3.3 |
1.5 |
- |
0.2 |
- |
|
Total
Long Term Debt |
3.3 |
1.5 |
0.0 |
0.2 |
0.0 |
|
Total
Debt |
13.7 |
10.6 |
8.0 |
7.7 |
7.1 |
|
|
|
|
|
|
|
|
Deferred
Income Tax - LT Liability |
0.3 |
0.5 |
0.4 |
0.4 |
0.5 |
|
Deferred
Income Tax |
0.3 |
0.5 |
0.4 |
0.4 |
0.5 |
|
Minority
Interest |
6.9 |
8.1 |
6.8 |
6.0 |
5.8 |
|
Pension
Benefits - Underfunded |
18.9 |
20.0 |
17.8 |
14.5 |
15.5 |
|
Other
Long Term Liabilities |
2.6 |
2.6 |
4.0 |
2.3 |
2.5 |
|
Other
Liabilities, Total |
21.4 |
22.6 |
21.8 |
16.8 |
18.1 |
|
Total
Liabilities |
98.1 |
92.4 |
74.3 |
66.1 |
81.8 |
|
|
|
|
|
|
|
|
Common
Stock |
52.1 |
51.8 |
45.9 |
43.5 |
43.1 |
|
Common
Stock |
52.1 |
51.8 |
45.9 |
43.5 |
43.1 |
|
Additional
Paid-In Capital |
49.4 |
49.1 |
43.6 |
41.2 |
40.9 |
|
Retained
Earnings (Accumulated Deficit) |
77.0 |
75.8 |
65.5 |
68.0 |
70.8 |
|
Treasury
Stock - Common |
-20.6 |
-17.6 |
-15.5 |
-14.7 |
-14.1 |
|
Unrealized
Gain (Loss) |
0.0 |
-0.7 |
0.0 |
-0.4 |
1.4 |
|
Translation
Adjustment |
-1.8 |
-3.2 |
-2.0 |
-2.5 |
1.3 |
|
Other
Equity |
0.0 |
- |
- |
- |
- |
|
Other
Equity, Total |
-1.8 |
-3.2 |
-2.0 |
-2.5 |
1.3 |
|
Total
Equity |
156.1 |
155.3 |
137.5 |
135.1 |
143.4 |
|
|
|
|
|
|
|
|
Total
Liabilities & Shareholders’ Equity |
254.3 |
247.7 |
211.8 |
201.2 |
225.2 |
|
|
|
|
|
|
|
|
Shares
Outstanding - Common Stock Primary Issue |
41.9 |
42.9 |
43.0 |
43.0 |
43.2 |
|
Total
Common Shares Outstanding |
41.9 |
42.9 |
43.0 |
43.0 |
43.2 |
|
Treasury
Shares - Common Stock Primary Issue |
5.9 |
4.9 |
4.8 |
4.8 |
4.6 |
|
Employees |
931 |
916 |
914 |
882 |
841 |
|
Number of
Common Shareholders |
5,501 |
5,721 |
5,993 |
6,233 |
6,756 |
|
Total
Long Term Debt, Supplemental |
4.8 |
1.9 |
1.8 |
0.3 |
- |
|
Long Term
Debt Maturing within 1 Year |
1.5 |
0.5 |
0.1 |
0.1 |
- |
|
Long Term
Debt Maturing in Year 2 |
1.4 |
0.5 |
0.4 |
0.1 |
- |
|
Long Term
Debt Maturing in Year 3 |
1.3 |
0.4 |
0.4 |
0.1 |
- |
|
Long Term
Debt Maturing in Year 4 |
0.3 |
0.3 |
0.3 |
0.1 |
- |
|
Long Term
Debt Maturing in Year 5 |
0.1 |
0.2 |
0.2 |
0.0 |
- |
|
Long Term
Debt Maturing in 2-3 Years |
2.7 |
0.8 |
0.8 |
0.1 |
- |
|
Long Term
Debt Maturing in 4-5 Years |
0.3 |
0.4 |
0.5 |
0.1 |
- |
|
Long Term
Debt Matur. in Year 6 & Beyond |
0.2 |
0.2 |
0.3 |
0.0 |
- |
|
Pension
Obligation - Domestic |
40.3 |
37.9 |
34.2 |
32.4 |
36.2 |
|
Plan
Assets - Domestic |
16.5 |
15.8 |
13.5 |
11.6 |
14.4 |
|
Funded
Status - Domestic |
-23.8 |
-22.1 |
-20.7 |
-20.8 |
-21.7 |
|
Total
Funded Status |
-23.8 |
-22.1 |
-20.7 |
-20.8 |
-21.7 |
|
Discount
Rate - Domestic |
1.75% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected
Rate of Return - Domestic |
3.00% |
3.00% |
4.50% |
4.50% |
4.50% |
|
Accrued
Liabilities - Domestic |
-16.7 |
-18.0 |
-16.3 |
-13.3 |
-13.7 |
|
Other
Assets, Net - Domestic |
7.1 |
4.1 |
4.4 |
7.5 |
8.1 |
|
Net
Assets Recognized on Balance Sheet |
-9.7 |
-13.9 |
-11.9 |
-5.8 |
-5.6 |
|
Total
Plan Obligations |
40.3 |
37.9 |
34.2 |
32.4 |
36.2 |
|
Total Plan
Assets |
16.5 |
15.8 |
13.5 |
11.6 |
14.4 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
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) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
|
Auditor
Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net
Income/Starting Line |
9.2 |
8.3 |
-4.7 |
0.8 |
10.3 |
|
Depreciation |
8.2 |
7.8 |
7.9 |
7.7 |
6.2 |
|
Depreciation/Depletion |
8.2 |
7.8 |
7.9 |
7.7 |
6.2 |
|
Amortization
of Acquisition Costs |
0.5 |
0.7 |
0.5 |
0.3 |
0.2 |
|
Amortization |
0.5 |
0.7 |
0.5 |
0.3 |
0.2 |
|
Unusual
Items |
0.1 |
0.0 |
0.3 |
0.1 |
0.6 |
|
Other
Non-Cash Items |
-2.0 |
-0.6 |
2.1 |
-1.5 |
-0.7 |
|
Non-Cash
Items |
-1.9 |
-0.6 |
2.3 |
-1.4 |
-0.1 |
|
Accounts
Receivable |
-4.1 |
2.4 |
15.2 |
20.4 |
0.5 |
|
Inventories |
-6.1 |
-3.9 |
-3.4 |
0.8 |
-1.4 |
|
Accounts
Payable |
2.6 |
4.5 |
2.0 |
-10.5 |
-1.2 |
|
Accrued
Expenses |
1.4 |
0.4 |
-1.0 |
-1.0 |
0.1 |
|
Taxes
Payable |
0.4 |
0.1 |
-0.1 |
0.0 |
-0.5 |
|
Other
Operating Cash Flow |
2.4 |
-1.8 |
-0.4 |
-4.0 |
-4.3 |
|
Changes
in Working Capital |
-3.4 |
1.8 |
12.4 |
5.7 |
-6.8 |
|
Cash
from Operating Activities |
12.6 |
18.0 |
18.4 |
13.1 |
9.8 |
|
|
|
|
|
|
|
|
Purchase
of Fixed Assets |
-10.9 |
-4.0 |
-3.5 |
-5.6 |
-4.7 |
|
Capital
Expenditures |
-10.9 |
-4.0 |
-3.5 |
-5.6 |
-4.7 |
|
Sale
of Fixed Assets |
0.4 |
0.0 |
- |
- |
0.0 |
|
Sale/Maturity
of Investment |
14.5 |
5.5 |
3.9 |
1.4 |
5.1 |
|
Purchase
of Investments |
-1.0 |
-16.6 |
-5.4 |
-7.3 |
-4.1 |
|
Other
Investing Cash Flow |
-1.8 |
-3.6 |
-1.0 |
2.7 |
-1.5 |
|
Other Investing
Cash Flow Items, Total |
12.1 |
-14.7 |
-2.5 |
-3.2 |
-0.5 |
|
Cash
from Investing Activities |
1.2 |
-18.6 |
-6.0 |
-8.9 |
-5.2 |
|
|
|
|
|
|
|
|
Other
Financing Cash Flow |
-0.3 |
-0.2 |
-0.3 |
-0.3 |
-0.2 |
|
Financing
Cash Flow Items |
-0.3 |
-0.2 |
-0.3 |
-0.3 |
-0.2 |
|
Cash
Dividends Paid - Common |
-2.8 |
-2.1 |
-2.3 |
-3.0 |
-2.7 |
|
Total
Cash Dividends Paid |
-2.8 |
-2.1 |
-2.3 |
-3.0 |
-2.7 |
|
Repurchase/Retirement
of Common |
-3.0 |
0.0 |
0.0 |
-0.5 |
-1.6 |
|
Common
Stock, Net |
-3.0 |
0.0 |
0.0 |
-0.5 |
-1.6 |
|
Issuance
(Retirement) of Stock, Net |
-3.0 |
0.0 |
0.0 |
-0.5 |
-1.6 |
|
Short
Term Debt, Net |
0.2 |
-0.1 |
0.1 |
0.0 |
0.0 |
|
Long
Term Debt Issued |
3.0 |
0.0 |
0.0 |
0.3 |
0.0 |
|
Long
Term Debt Reduction |
-0.1 |
-0.1 |
-0.1 |
0.0 |
- |
|
Long
Term Debt, Net |
3.0 |
-0.1 |
-0.1 |
0.3 |
0.0 |
|
Issuance
(Retirement) of Debt, Net |
3.1 |
-0.2 |
0.0 |
0.3 |
0.0 |
|
Cash
from Financing Activities |
-2.9 |
-2.5 |
-2.6 |
-3.5 |
-4.5 |
|
|
|
|
|
|
|
|
Foreign
Exchange Effects |
-0.1 |
-0.6 |
0.5 |
-1.3 |
0.0 |
|
Net
Change in Cash |
10.7 |
-3.8 |
10.3 |
-0.5 |
0.1 |
|
|
|
|
|
|
|
|
Net Cash
- Beginning Balance |
46.7 |
46.8 |
32.9 |
30.9 |
27.1 |
|
Net Cash
- Ending Balance |
57.4 |
43.0 |
43.1 |
30.4 |
27.2 |
|
Cash
Interest Paid |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Cash
Taxes Paid |
3.1 |
1.7 |
-0.1 |
3.7 |
4.8 |
Annual income statement
Financials
in: USD (mil)
Except for
share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
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) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
|
Auditor
Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Total
net sales |
230.7 |
191.1 |
147.0 |
171.6 |
174.2 |
|
Total
Revenue |
230.7 |
191.1 |
147.0 |
171.6 |
174.2 |
|
|
|
|
|
|
|
|
Total
cost of sales |
158.9 |
130.5 |
104.8 |
124.6 |
121.4 |
|
Provision
for directors'' bonuses |
0.2 |
- |
- |
- |
- |
|
Salary
& Bonus |
26.3 |
23.0 |
19.2 |
18.5 |
16.2 |
|
Bonus
Allowance |
2.2 |
1.6 |
1.4 |
1.7 |
1.6 |
|
Dir's
Bonus Allowance |
- |
0.0 |
- |
0.0 |
0.2 |
|
Periodic
Retirement Benefit Cost |
1.8 |
1.7 |
1.7 |
1.2 |
0.8 |
|
Provision
for directors'' retirement ben |
0.7 |
0.4 |
0.4 |
0.5 |
0.5 |
|
Depreciation |
1.8 |
1.2 |
1.2 |
1.2 |
1.0 |
|
R
& D Cost |
6.1 |
3.6 |
2.8 |
4.7 |
4.5 |
|
Other
Selling/General/Admin. Expense |
0.0 |
- |
- |
- |
- |
|
Allowance
for Doubtful Account |
- |
0.0 |
0.2 |
0.0 |
- |
|
Other
SGA |
22.6 |
20.0 |
18.9 |
16.8 |
15.7 |
|
Other |
0.0 |
- |
- |
- |
- |
|
Loss
On Abolishment Of Retirement Benefi |
0.3 |
- |
- |
- |
- |
|
SP
Rev.Allow.Doubtful Accts. |
- |
-0.2 |
0.0 |
0.0 |
0.0 |
|
Gain
on redemption of investment securit |
-0.1 |
-0.1 |
-0.3 |
0.0 |
- |
|
SP
Other Special Gain |
- |
- |
- |
- |
0.0 |
|
SP
Loss Valu. Inv.Secs. |
- |
0.0 |
0.3 |
0.1 |
0.6 |
|
SP
Accr. Retire Benefits-Prior |
- |
- |
- |
0.0 |
0.1 |
|
SP
Directors' Retire. Benefit |
- |
- |
- |
- |
0.0 |
|
SP
Suspension of Operation |
- |
0.1 |
0.3 |
0.0 |
- |
|
SP
Other Special Loss |
0.2 |
0.0 |
0.1 |
0.0 |
- |
|
Total
Operating Expense |
220.9 |
182.0 |
150.8 |
169.2 |
162.5 |
|
|
|
|
|
|
|
|
SP
Redemp Inv.Secs |
- |
0.0 |
- |
- |
- |
|
SP
Gain Sale Fix.Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP
Gain Sale Inv.Secs. |
- |
- |
- |
0.0 |
0.0 |
|
SP
Loss Disp Fix.Assets |
-1.0 |
-0.2 |
-0.1 |
-0.3 |
-0.1 |
|
SP
Loss-sale of LT investment secs. |
- |
0.0 |
-0.2 |
0.0 |
- |
|
NOP
Interest Income |
0.4 |
0.3 |
0.3 |
0.2 |
0.2 |
|
NOP
Dividend Income |
0.3 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Purchase
Discounts |
0.3 |
- |
- |
- |
- |
|
Finance
related expenses |
-0.2 |
- |
- |
- |
- |
|
Contribution |
-0.2 |
- |
- |
- |
- |
|
Other
Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP
Insurance Income |
- |
- |
0.0 |
0.7 |
0.0 |
|
NOP
Foreign exchange gains |
- |
0.0 |
0.3 |
0.0 |
0.0 |
|
NOP
Purch. Discount |
- |
0.1 |
- |
- |
0.0 |
|
NOP
Reversal of Insurance Cancellation |
- |
0.0 |
0.8 |
0.6 |
0.5 |
|
NOP
Other Income |
0.5 |
0.5 |
0.4 |
0.5 |
0.4 |
|
NOP
Interest Expense |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
NOP
Pension Accounting Change |
- |
0.0 |
-2.4 |
-2.3 |
-2.0 |
|
NOP
Foreign exchange loss |
-0.1 |
-0.8 |
0.0 |
-1.0 |
-0.3 |
|
NOP
Financial Commissions income |
- |
-0.1 |
- |
- |
- |
|
NOP
Contribution |
- |
-0.1 |
- |
- |
- |
|
NOP
Other Expense |
-0.4 |
-0.6 |
-0.1 |
-0.2 |
-0.2 |
|
Net
Income Before Taxes |
9.2 |
8.3 |
-4.7 |
0.8 |
10.3 |
|
|
|
|
|
|
|
|
Provision
for Income Taxes |
4.9 |
3.7 |
-1.4 |
0.6 |
3.8 |
|
Net Income
After Taxes |
4.3 |
4.6 |
-3.4 |
0.2 |
6.6 |
|
|
|
|
|
|
|
|
Minority
interests in income |
-0.8 |
-0.6 |
-0.7 |
-0.4 |
-0.7 |
|
Net
Income Before Extra. Items |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
Net
Income |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
|
|
|
|
|
|
|
Miscellaneous
Earnings Adjustment |
0.0 |
- |
- |
- |
- |
|
Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income
Available to Com Excl ExtraOrd |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
|
|
|
|
|
|
|
Income
Available to Com Incl ExtraOrd |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
|
|
|
|
|
|
|
Basic
Weighted Average Shares |
42.8 |
42.9 |
43.0 |
43.1 |
43.6 |
|
Basic EPS
Excluding ExtraOrdinary Items |
0.08 |
0.09 |
-0.09 |
0.00 |
0.13 |
|
Basic EPS
Including ExtraOrdinary Item |
0.08 |
0.09 |
-0.09 |
0.00 |
0.13 |
|
Dilution
Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted
Net Income |
3.5 |
4.0 |
-4.1 |
-0.2 |
5.9 |
|
Diluted
Weighted Average Shares |
42.8 |
42.9 |
43.0 |
43.1 |
43.6 |
|
Diluted EPS
Excluding ExtraOrd Items |
0.08 |
0.09 |
-0.09 |
0.00 |
0.13 |
|
Diluted
EPS Including ExtraOrd Items |
0.08 |
0.09 |
-0.09 |
0.00 |
0.13 |
|
DPS-Common
Stock |
0.09 |
0.06 |
0.04 |
0.05 |
0.06 |
|
Gross
Dividends - Common Stock |
3.8 |
2.5 |
1.8 |
2.1 |
2.6 |
|
Normalized
Income Before Taxes |
11.2 |
9.0 |
-3.8 |
1.5 |
11.4 |
|
|
|
|
|
|
|
|
Inc Tax
Ex Impact of Sp Items |
5.7 |
3.7 |
-1.2 |
0.7 |
4.1 |
|
Normalized
Income After Taxes |
5.5 |
5.3 |
-2.6 |
0.7 |
7.3 |
|
|
|
|
|
|
|
|
Normalized
Inc. Avail to Com. |
4.7 |
4.7 |
-3.3 |
0.3 |
6.6 |
|
|
|
|
|
|
|
|
Basic
Normalized EPS |
0.11 |
0.11 |
-0.08 |
0.01 |
0.15 |
|
Diluted
Normalized EPS |
0.11 |
0.11 |
-0.08 |
0.01 |
0.15 |
|
Research
and Development Expenses |
5.3 |
- |
- |
- |
- |
|
Research
and Development Expenses |
6.1 |
- |
- |
- |
- |
|
Research
& Development Exp (SGA) |
- |
3.6 |
2.8 |
4.7 |
4.5 |
|
R & D
Expenses (COGS) |
- |
6.5 |
6.3 |
10.2 |
8.8 |
|
Interest
Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Depreciation |
8.2 |
7.8 |
7.9 |
7.7 |
6.2 |
|
Amort of
Goodwill |
0.5 |
- |
- |
- |
- |
|
Amort of
Goodwill |
- |
0.7 |
0.5 |
0.3 |
0.2 |
|
Reported
Operating Profit |
10.2 |
9.0 |
-3.4 |
2.5 |
12.4 |
|
Reported
Ordinary Profit |
10.6 |
8.4 |
-4.1 |
1.2 |
11.2 |
|
Service Cost |
2.3 |
2.2 |
2.0 |
1.9 |
1.8 |
|
Interest
Cost |
0.9 |
0.9 |
0.8 |
0.8 |
0.7 |
|
Expected
Return on Plan Assets |
-0.5 |
-0.4 |
-0.5 |
-0.6 |
-0.5 |
|
Pension
Exp. due to Acct. Changes |
0.0 |
0.0 |
2.4 |
2.3 |
2.0 |
|
Actuarial
Gains and Losses |
0.9 |
1.0 |
1.1 |
0.7 |
0.1 |
|
Domestic
Pension Plan Expense |
3.7 |
3.6 |
5.8 |
5.1 |
4.2 |
|
Defined
Contribution Expenses |
0.2 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Total
Pension Expense |
3.9 |
3.8 |
6.0 |
5.2 |
4.2 |
|
Discount
Rate(MIN)-Retirement Cost(Domes |
1.75% |
- |
- |
- |
- |
|
Discount
Rate |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected
return on assets(MIN)-Retiremen |
3.00% |
- |
- |
- |
- |
|
Expected
Rate of Return |
- |
3.00% |
4.50% |
4.50% |
4.50% |
Annual Balance Sheet
Financials
in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed
Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange
Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
|
Auditor
Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash
& Deposit |
55.1 |
45.2 |
43.7 |
33.1 |
31.2 |
|
Notes
and accounts receivable-trade |
68.7 |
64.5 |
59.9 |
70.6 |
91.8 |
|
Short-term
investment securities |
0.0 |
13.3 |
2.8 |
2.0 |
0.5 |
|
Merchandise
& Products |
11.8 |
11.8 |
9.5 |
7.1 |
7.5 |
|
Work
in process |
11.3 |
10.7 |
8.7 |
6.4 |
7.6 |
|
Raw
Materials & Supplies |
21.0 |
15.6 |
12.4 |
12.1 |
11.7 |
|
Deferred
Tax |
4.0 |
5.2 |
5.8 |
3.9 |
3.0 |
|
Rounding
adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other
Cur. Asset |
2.8 |
2.3 |
2.2 |
3.2 |
1.6 |
|
Allow.
for Doubtful Account |
-0.1 |
-0.1 |
-0.3 |
-0.2 |
-0.2 |
|
Total
Current Assets |
174.7 |
168.5 |
144.8 |
138.3 |
154.6 |
|
|
|
|
|
|
|
|
Build.&Structure,
gross |
67.8 |
65.6 |
55.2 |
52.1 |
51.7 |
|
Depreciation-Buildings
And Structures |
-47.4 |
-46.6 |
-40.3 |
-37.1 |
-35.8 |
|
Machinery,
equipment and vehicles |
33.3 |
33.4 |
29.2 |
28.0 |
27.2 |
|
Acc.
Depre&Impair-Machine,Equip&Vehicle |
-27.9 |
-26.8 |
-23.1 |
-20.7 |
-19.0 |
|
Land |
13.0 |
12.6 |
11.3 |
10.5 |
11.0 |
|
Construction
in progress |
0.2 |
1.5 |
1.3 |
1.1 |
0.8 |
|
Other
PP & E, gross |
53.3 |
51.3 |
45.2 |
42.1 |
41.3 |
|
Depreciation-Other |
-49.1 |
-48.0 |
-42.1 |
-37.9 |
-36.4 |
|
Goodwill |
2.7 |
3.2 |
3.4 |
2.6 |
0.0 |
|
Other
Total Intangible Assets, Net |
0.0 |
- |
- |
- |
- |
|
Other
Intangibles |
4.1 |
3.8 |
1.9 |
1.7 |
2.6 |
|
Other
LT Investments (Held for Sale / He |
13.9 |
- |
- |
- |
- |
|
Investment
Secs. |
- |
11.8 |
10.1 |
7.8 |
11.2 |
|
Rounding
adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other |
8.4 |
- |
- |
- |
- |
|
Other
Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Deferred
tax assets |
7.5 |
9.2 |
7.8 |
6.7 |
5.8 |
|
Other
Assets |
- |
8.2 |
6.9 |
5.9 |
10.3 |
|
Allow.
for Doubtful Account |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Translation
Adjustment |
- |
- |
- |
0.0 |
0.0 |
|
Other
Other Tangible Fixed Assets, Net |
0.0 |
- |
- |
- |
- |
|
Other
PPE |
0.0 |
- |
- |
- |
- |
|
Invt
Secs Noncons, Asc, Affd Cos |
0.0 |
- |
- |
- |
- |
|
Total
Assets |
254.3 |
247.7 |
211.8 |
201.2 |
225.2 |
|
|
|
|
|
|
|
|
Notes
and accounts payable-trade |
40.2 |
37.6 |
29.5 |
26.1 |
36.7 |
|
Short-term
loans payable |
10.4 |
8.7 |
7.8 |
7.4 |
7.1 |
|
LT
Borrowings (current) |
- |
0.5 |
0.1 |
0.1 |
- |
|
Tax
Payable |
1.4 |
1.9 |
1.1 |
0.7 |
2.0 |
|
Provision
for directors'' bonuses |
0.1 |
- |
- |
- |
- |
|
Bonus
Allowance |
5.0 |
3.7 |
2.9 |
3.7 |
4.6 |
|
Dir's
Bonus Allowance |
- |
- |
- |
0.0 |
0.2 |
|
Rounding
adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Other
Cur. Liabs |
9.0 |
7.4 |
3.9 |
4.8 |
6.8 |
|
Total
Current Liabilities |
66.1 |
59.7 |
45.3 |
42.7 |
57.5 |
|
|
|
|
|
|
|
|
Long-term
loans payable |
3.3 |
- |
- |
- |
- |
|
LT
Borrowing |
- |
1.5 |
- |
0.2 |
- |
|
Total
Long Term Debt |
3.3 |
1.5 |
- |
0.2 |
- |
|
|
|
|
|
|
|
|
Deferred
Tax |
0.3 |
0.5 |
0.4 |
0.4 |
0.5 |
|
Allow.Accr.Retir |
16.7 |
18.0 |
16.3 |
13.3 |
13.7 |
|
Provision
for directors'' retirement ben |
2.1 |
2.1 |
1.5 |
1.2 |
1.9 |
|
Other
Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Other
Liability |
2.6 |
2.6 |
4.0 |
2.3 |
2.5 |
|
Minority
Interest |
6.9 |
8.1 |
6.8 |
6.0 |
5.8 |
|
Total
Liabilities |
98.1 |
92.4 |
74.3 |
66.1 |
81.8 |
|
|
|
|
|
|
|
|
Rounding
adjustment Equity |
0.0 |
- |
- |
- |
- |
|
Common
Stock |
52.1 |
51.8 |
45.9 |
43.5 |
43.1 |
|
Total
capital surpluses |
49.4 |
49.1 |
43.6 |
41.2 |
40.9 |
|
Total
retained earnings |
77.0 |
75.8 |
65.5 |
68.0 |
70.8 |
|
Treasury
Stock |
-20.6 |
-17.6 |
-15.5 |
-14.7 |
-14.1 |
|
Valuation
difference on available-for-sa |
0.0 |
-0.7 |
0.0 |
-0.4 |
1.4 |
|
Translation
Adjustment |
-1.8 |
-3.2 |
-2.0 |
-2.5 |
1.3 |
|
Total
Equity |
156.1 |
155.3 |
137.5 |
135.1 |
143.4 |
|
|
|
|
|
|
|
|
Total
Liabilities & Shareholders' Equity |
254.3 |
247.7 |
211.8 |
201.2 |
225.2 |
|
|
|
|
|
|
|
|
S/O-Common
Stock |
41.9 |
42.9 |
43.0 |
43.0 |
43.2 |
|
Total
Common Shares Outstanding |
41.9 |
42.9 |
43.0 |
43.0 |
43.2 |
|
T/S-Common
Stock |
5.9 |
4.9 |
4.8 |
4.8 |
4.6 |
|
Full-Time
Employees |
931 |
916 |
914 |
882 |
841 |
|
Total
Number of Shareholders |
5,501 |
- |
- |
- |
- |
|
Number of
Common Shareholders |
- |
5,721 |
5,993 |
6,233 |
6,756 |
|
LT Debt
Maturing within 1 Year |
1.5 |
0.5 |
0.1 |
0.1 |
- |
|
Lns Pble
Maturing over a Yr within 2 Yrs |
1.4 |
- |
- |
- |
- |
|
LT Debt
Maturing in Year 2 |
- |
0.5 |
0.4 |
0.1 |
- |
|
Lns Pble
Maturg over 2 Yrs within 3 Yrs |
1.3 |
- |
- |
- |
- |
|
LT Debt
Maturing in Year 3 |
- |
0.4 |
0.4 |
0.1 |
- |
|
Lns Pble
Maturg over 3 Yrs within 4 Yrs |
0.3 |
- |
- |
- |
- |
|
LT Debt
Maturing in Year 4 |
- |
0.3 |
0.3 |
0.1 |
- |
|
Lns Pble Maturg
over 4 Yrs within 5 Yrs |
0.1 |
- |
- |
- |
- |
|
LT Debt
Maturing in Year 5 |
- |
0.2 |
0.2 |
0.0 |
- |
|
LT Debt
Remaining |
0.2 |
- |
- |
- |
- |
|
Long Term
Debt - Remaining Maturities |
- |
0.2 |
0.3 |
- |
- |
|
Total
Long Term Debt, Supplemental |
4.8 |
1.9 |
1.8 |
0.3 |
- |
|
Pension
Obligation |
40.3 |
37.9 |
34.2 |
32.4 |
36.2 |
|
Fair
Value of Plan Assets |
16.5 |
15.8 |
13.5 |
11.6 |
14.4 |
|
Funded
Status |
-23.8 |
-22.1 |
-20.7 |
-20.8 |
-21.7 |
|
Total
Funded Status |
-23.8 |
-22.1 |
-20.7 |
-20.8 |
-21.7 |
|
Discount
Rate |
1.75% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected
Rate of Return |
3.00% |
3.00% |
4.50% |
4.50% |
4.50% |
|
Expense
Unrecog. for Acct. Changes |
- |
- |
0.0 |
2.3 |
4.5 |
|
Unrecognized
Actuarial Gains and Losses |
7.1 |
4.1 |
4.4 |
5.2 |
3.5 |
|
Reserve
for Accrued Retirement Benefits |
-16.7 |
-18.0 |
-16.3 |
-13.3 |
-13.7 |
|
Net
Assets Recognized on Balance Sheet |
-9.7 |
-13.9 |
-11.9 |
-5.8 |
-5.6 |
Annual Cash Flows
Financials
in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
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) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
Otemon Audit Corporation |
|
Auditor
Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net
Income Bf Tax |
9.2 |
8.3 |
-4.7 |
0.8 |
10.3 |
|
Depreciation |
8.2 |
7.8 |
7.9 |
7.7 |
6.2 |
|
Amort,
Goodwill |
0.5 |
0.7 |
0.5 |
0.3 |
0.2 |
|
Increase
(decrease) in allowance for dou |
0.0 |
-0.2 |
0.1 |
0.0 |
0.0 |
|
Increase
(decrease) in provision for bon |
1.4 |
0.4 |
-1.0 |
-1.0 |
0.1 |
|
Increase
(decrease) in provision for ret |
-1.4 |
-0.4 |
2.2 |
-0.4 |
-0.7 |
|
Increase
(decrease) in provision for dir |
0.1 |
0.4 |
0.2 |
-0.7 |
0.3 |
|
Interest
& Dividend Income |
-0.7 |
-0.5 |
-0.5 |
-0.5 |
-0.4 |
|
Interest
Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Loss
(gain) on valuation of investment s |
0.1 |
0.0 |
0.3 |
0.1 |
0.6 |
|
Decrease
(increase) in notes and account |
-4.1 |
2.4 |
15.2 |
20.4 |
0.5 |
|
Decrease
(increase) in inventories |
-6.1 |
-3.9 |
-3.4 |
0.8 |
-1.4 |
|
Increase
(decrease) in notes and account |
2.6 |
4.5 |
2.0 |
-10.5 |
-1.2 |
|
Increase
(decrease) in accrued consumpti |
0.4 |
0.1 |
-0.1 |
0.0 |
-0.5 |
|
Rounding
adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Other,
net |
4.9 |
-0.5 |
-0.9 |
-0.7 |
0.2 |
|
Int.&Divid.
Received |
0.7 |
0.5 |
0.5 |
0.5 |
0.4 |
|
Interest
Paid |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Income
taxes (paid) refund |
-3.1 |
-1.7 |
0.1 |
-3.7 |
-4.8 |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Cash
from Operating Activities |
12.6 |
18.0 |
18.4 |
13.1 |
9.8 |
|
|
|
|
|
|
|
|
Time
Deposit Made |
- |
0.0 |
-0.2 |
-3.1 |
0.0 |
|
Time
Deposit Matured |
0.6 |
0.1 |
1.8 |
0.9 |
0.0 |
|
Purch.
Mktbl. Secs. |
- |
0.0 |
-2.8 |
-2.0 |
0.0 |
|
Redemp.
Mktbl. Secs. |
- |
0.0 |
2.2 |
0.0 |
- |
|
Purchase
of property, plant and equipmen |
-10.9 |
-4.0 |
-3.5 |
-5.6 |
-4.7 |
|
Proceeds
from sales of property, plant a |
0.4 |
- |
- |
- |
- |
|
Sale
of PPE |
- |
0.0 |
- |
- |
0.0 |
|
Purch.
Inv. Secs. |
-1.0 |
-16.6 |
-2.3 |
-0.4 |
-4.1 |
|
Sale
Inv. Secs. |
0.0 |
0.8 |
0.0 |
0.0 |
2.7 |
|
Redemp
Inv.Secs. |
13.8 |
4.7 |
0.0 |
0.5 |
2.4 |
|
Rounding
adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Loan
Made |
0.0 |
-0.1 |
0.0 |
-0.1 |
-0.3 |
|
Loan
Collected |
0.1 |
0.1 |
0.1 |
0.1 |
0.3 |
|
Insurance
Payment |
-0.5 |
-0.6 |
-0.3 |
-0.2 |
-0.6 |
|
Proceeds
from maturity of insurance fund |
1.0 |
0.0 |
0.3 |
4.0 |
0.0 |
|
Purch.
of Consol. Subs. Stock |
- |
- |
- |
- |
0.0 |
|
Purch.
of Subs. Stock-Consol. Changed |
- |
0.0 |
0.0 |
-1.9 |
0.0 |
|
Other,
net |
-2.2 |
-3.1 |
-1.0 |
-1.3 |
-1.0 |
|
Cash
from Investing Activities |
1.2 |
-18.6 |
-6.0 |
-8.9 |
-5.2 |
|
|
|
|
|
|
|
|
Net
increase (decrease) in short-term lo |
0.2 |
-0.1 |
0.1 |
0.0 |
0.0 |
|
Proceeds
from long-term loans payable |
3.0 |
- |
- |
- |
- |
|
Proc.
LT Debt |
- |
0.0 |
0.0 |
0.3 |
0.0 |
|
Repayment
of long-term loans payable |
-0.1 |
-0.1 |
-0.1 |
0.0 |
- |
|
Purch.
of Treasury Stocks |
-3.0 |
0.0 |
0.0 |
-0.5 |
-1.6 |
|
Dividend
Paid |
-2.8 |
-2.1 |
-2.3 |
-3.0 |
-2.7 |
|
Rounding
adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Dividend
Paid to Minority |
-0.3 |
-0.2 |
-0.3 |
-0.3 |
-0.2 |
|
Cash
from Financing Activities |
-2.9 |
-2.5 |
-2.6 |
-3.5 |
-4.5 |
|
|
|
|
|
|
|
|
Foreign
Exchange Effects |
-0.1 |
-0.6 |
0.5 |
-1.3 |
0.0 |
|
Net
Change in Cash |
10.7 |
-3.8 |
10.3 |
-0.5 |
0.1 |
|
|
|
|
|
|
|
|
Net Cash
- Beginning Balance |
46.7 |
46.8 |
32.9 |
30.9 |
27.1 |
|
Net Cash
- Ending Balance |
57.4 |
43.0 |
43.1 |
30.4 |
27.2 |
|
Cash
Interest Paid |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Cash
Taxes Paid |
3.1 |
1.7 |
-0.1 |
3.7 |
4.8 |
Financial Health
|
Financials in: USD (mil) Except for share items (millions) and per share
items (actual units) |
|
Key
Indicators USD (mil) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
 |
Quarter |
Quarter |
Annual |
1 Year |
3 Year |
5 Year |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Total
Revenue1 (?) |
0.1 |
-99.92% |
230.7 |
11.23% |
1.84% |
-1.61% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Research
& Development1
(?) |
- |
- |
6.1 |
55.35% |
0.46% |
-0.39% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Operating
Income1 (?) |
- |
- |
9.8 |
-1.30% |
47.87% |
-12.40% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Income
Available to Common Excl Extraord Items1 (?) |
- |
- |
3.5 |
-18.79% |
- |
-18.91% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Basic EPS
Excl Extraord Items1
(?) |
- |
- |
0.08 |
-18.55% |
- |
-18.45% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Capital
Expenditures2 (?) |
- |
- |
10.9 |
152.18% |
14.95% |
15.81% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Cash from
Operating Activities2
(?) |
0.0 |
- |
12.6 |
-35.38% |
-8.92% |
-3.24% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Free Cash
Flow (?) |
0.0 |
- |
1.6 |
-88.68% |
-43.46% |
-29.15% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Total
Assets3 (?) |
0.3 |
-99.90% |
254.3 |
2.04% |
1.77% |
-1.56% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Total
Liabilities3 (?) |
0.1 |
-99.90% |
98.1 |
5.60% |
7.37% |
-0.48% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Total
Long Term Debt3
(?) |
- |
- |
3.3 |
119.61% |
129.07% |
- |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Employees3 (?) |
- |
- |
931 |
1.64% |
1.82% |
2.72% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Total
Common Shares Outstanding3 (?) |
- |
- |
41.9 |
-2.35% |
-0.81% |
-0.89% |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1-ExchangeRate:
JPY to USD Average for Period |
78.747210 |
 |
78.961215 |
 |
 |
 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2-ExchangeRate:
JPY to USD Average for Period |
79.542859 |
 |
78.961215 |
 |
 |
 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
3-ExchangeRate:
JPY to USD Period End Date |
77.891271 |
 |
82.385362 |
 |
 |
 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Market
Valuation USD (mil) |
||||
|
P/E (TTM) (?) |
44.56 |
. |
|
81.9 |
|
Price/Sales
(TTM) (?) |
0.52 |
. |
|
0.36 |
|
Price/Book
(MRQ) (?) |
0.66 |
. |
|
5.23 |
|
Market
Cap as of 22-Nov-20121
(?) |
113.2 |
. |
|
|
|
1-ExchangeRate:
JPY to USD on 22-Nov-2012 |
82.359232 |
|
|
|
|
2-ExchangeRate:
JPY to USD on 30-Jun-2012 |
79.390941 |
|
|
|
Annual Ratio
Financials
in: USD (mil)
Except for
share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
||
|
Financial
Strength |
|||||||
|
Current
Ratio (?) |
2.64 |
2.82 |
3.19 |
3.23 |
2.69 |
||
|
Quick/Acid
Test Ratio (?) |
1.87 |
2.06 |
2.34 |
2.47 |
2.14 |
||
|
Working
Capital1 (?) |
108.5 |
108.7 |
99.4 |
95.5 |
97.1 |
||
|
Long Term
Debt/Equity (?) |
0.02 |
0.01 |
0.00 |
0.00 |
0.00 |
||
|
Total
Debt/Equity (?) |
0.09 |
0.07 |
0.06 |
0.06 |
0.05 |
||
|
Long Term
Debt/Total Capital (?) |
0.02 |
0.01 |
0.00 |
0.00 |
0.00 |
||
|
Total
Debt/Total Capital (?) |
0.08 |
0.06 |
0.05 |
0.05 |
0.05 |
||
|
Payout
Ratio (?) |
107.49% |
62.54% |
-45.43% |
-1,005.23% |
45.64% |
||
|
Effective
Tax Rate (?) |
53.19% |
44.25% |
- |
72.22% |
36.65% |
||
|
Total
Capital1 (?) |
169.8 |
166.0 |
145.4 |
142.7 |
150.5 |
||
|
|
|
|
|
|
|
||
|
Efficiency |
|||||||
|
Asset
Turnover (?) |
0.88 |
0.81 |
0.69 |
0.82 |
0.88 |
||
|
Inventory
Turnover (?) |
3.70 |
3.72 |
3.62 |
4.83 |
5.39 |
||
|
Days In
Inventory (?) |
98.71 |
98.16 |
100.96 |
75.63 |
67.75 |
||
|
Receivables
Turnover (?) |
3.31 |
3.00 |
2.18 |
2.15 |
2.18 |
||
|
Days Receivables
Outstanding (?) |
110.11 |
121.58 |
167.33 |
170.10 |
167.75 |
||
|
Revenue/Employee2 (?) |
237,450 |
215,677 |
159,994 |
197,937 |
237,842 |
||
|
Operating
Income/Employee2 (?) |
10,062 |
10,300 |
-4,101 |
2,740 |
15,960 |
||
|
EBITDA/Employee2 (?) |
18,488 |
19,099 |
4,537 |
11,654 |
24,398 |
||
|
|
|
|
|
|
|
||
|
Profitability |
|||||||
|
Gross Margin (?) |
31.10% |
31.72% |
28.71% |
27.41% |
30.32% |
||
|
Operating
Margin (?) |
4.24% |
4.78% |
-2.56% |
1.38% |
6.71% |
||
|
EBITDA
Margin (?) |
7.79% |
8.86% |
2.84% |
5.89% |
10.26% |
||
|
EBIT
Margin (?) |
4.24% |
4.78% |
-2.56% |
1.38% |
6.71% |
||
|
Pretax
Margin (?) |
3.99% |
4.34% |
-3.23% |
0.49% |
5.94% |
||
|
Net Profit
Margin (?) |
1.53% |
2.10% |
-2.77% |
-0.12% |
3.36% |
||
|
R&D
Expense/Revenue (?) |
2.63% |
1.88% |
1.88% |
2.74% |
2.56% |
||
|
COGS/Revenue (?) |
68.90% |
68.28% |
71.29% |
72.59% |
69.68% |
||
|
SG&A
Expense/Revenue (?) |
23.29% |
24.47% |
28.32% |
22.54% |
20.07% |
||
|
|
|
|
|
|
|
||
|
Management
Effectiveness |
|||||||
|
Return on
Assets (?) |
1.64% |
1.97% |
-1.58% |
0.11% |
3.32% |
||
|
Return on
Equity (?) |
2.17% |
2.67% |
-2.89% |
-0.16% |
4.67% |
||
|
|
|
|
|
|
|
||
|
Valuation |
|||||||
|
Free Cash
Flow/Share2 (?) |
0.04 |
0.34 |
0.34 |
0.18 |
0.13 |
||
|
Operating
Cash Flow/Share 2 (?) |
0.29 |
0.43 |
0.43 |
0.31 |
0.26 |
||
|
1-ExchangeRate:
JPY to USD Period End Date |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
||
|
2-ExchangeRate:
JPY to USD Average for Period |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
||
|
Current
Market Multiples |
|
|
|
|
|
||
|
Market
Cap/Earnings (TTM) (?) |
50.72 |
|
|
|
|
|
|
|
Market
Cap/Equity (MRQ) (?) |
0.75 |
|
|
|
|
|
|
|
Market
Cap/Revenue (TTM) (?) |
0.52 |
|
|
|
|
|
|
|
Market
Cap/EBIT (TTM) (?) |
16.58 |
|
|
|
|
|
|
|
Market Cap/EBITDA
(TTM) (?) |
7.49 |
|
|
|
|
|
|
|
|
35.40 |
|
|
|
|
|
|
|
|
0.52 |
|
|
|
|
|
|
|
|
0.36 |
|
|
|
|
|
|
|
|
11.57 |
|
|
|
|
|
|
|
|
5.23 |
|
|
|
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.46 |
|
|
1 |
Rs.87.63 |
|
Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.