MIRA
INFORM REPORT
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Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
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Name : |
FUJI HEAVY INDUSTRIES LTD. |
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Registered Office : |
Subaru Bldg. 1-7-2, Nishishinjuku, Shinjuku-ku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
17.07.1953 |
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Legal Form : |
Public Parent |
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Line of Business : |
Manufacture of motor vehicles |
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No. of Employees : |
27,296 |
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 : |
No Complaints |
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Litigation : |
-- |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 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
Fuji Heavy
Industries Ltd.
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Business Description
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Fuji Heavy Industries Ltd. is a Japan-based manufacturing company
engaged in four business segments. The Automobile segment is engaged in the
manufacture, repair and sale of light vehicles, compact cars, standard
vehicles and parts. The Aerospace segment offers airplanes, aerospace-related
equipment and parts. The Industrial Machinery segment offers motors and motor
on-board equipment, agricultural machinery, forestry machinery and
constructional machinery, as well as other machinery and equipment. The
Others segment is engaged in the manufacture, sale and repair of dustcarts,
wind force power generation systems and houses, as well as the leasing of
real estate properties. As of March 31, 2011, the Company had 96 subsidiaries
and eight associated companies. For the six months ended 30 September 2011, Fuji
Heavy Industries Ltd.'s revenues decreased 19% to Y655.02B. The Company's net
income decreased 27% to Y32.75B. Revenues reflected decreased sales volume
mainly from automobile business segment. Net income also suffered from the
unfavorable gross and operating profit margins, the presence of loss on
disaster and the decreased equity gain. |
Industry
|
Industry |
Auto and Truck Manufacturers |
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ANZSIC 2006: |
231 - Motor Vehicle and Motor Vehicle Part
Manufacturing |
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NACE 2002: |
3410 - Manufacture of motor vehicles |
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NAICS 2002: |
336112 - Light Truck and Utility Vehicle
Manufacturing |
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UK SIC 2003: |
3410 - Manufacture of motor vehicles |
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US SIC 1987: |
3711 - Motor Vehicles and Passenger Car
Bodies |
Key Executives
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Significant
Developments
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* number of significant developments within the last 12 months |
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News
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Financial Summary
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Stock Snapshot
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1 - Profit &
Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536
Corporate Overview
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Overview
Fuji Heavy Industries Ltd. (FHI) is a global manufacturer of
transportation and related products. As a maker of Subaru automobiles, the
company offers an array of passenger cars and components. Geographic
diversification and broad product portfolio offers a competitive edge over its
competitors. FHI could develop through growth opportunities including favorable
Chinese market and new product innovation. However, intense competition along
with natural disasters could adversely affect the company’s business
activities.
Strengths
FHI reported strong financial performance for the fiscal year ended
March 2011, reflecting its ability to fulfill operational and business
expansion needs. The company reported revenue of JPY1,580,563m for the fiscal
year ended March 2011, indicating an increase of 10.6% over revenue in 2010.
The company posted operating profit of JPY63,865m for the fiscal year ended
March 2011, reflecting an increase of 100% over operating profit in 2010. The
company recorded net profit of JPY50,326m during the fiscal year ended 2011,
indicating an increase of 405% over net profit in 2010. The increase in the
operating and net profit improved the company’s profitability. The operating
margin of the company increased to 4% in 2011 from 0% in 2010. The company’s
return on equity increased to 12% in 2011 from (4%) in 2010. Its return on
assets and return on fixed assets increased to 4% and 11% in 2011 from (1%) and
(0.9%) respectively in 2010. The company’s return on capital employed
increased to 9% in 2011 from 0.8% in 2010. Substantial increase in
profitability ratios indicates that the company performed well and would be
able to deliver value as expected by its shareholders. Such a strong financial
performance would enhance the company’s expansion plans and growth.
FHI boasts of a strong product portfolio. It is engaged in the
production and sales activities across a wide range of business sectors. The
product portfolio of the company includes automobile parts; automobile engines
and transmissions; general-purpose engines and generators; aircraft;
industrial-use vehicles; mini cars and passenger cars; car components;
aerospace-related machinery; agricultural machinery; construction machinery;
machine tools; eco-related machinery; and engine-equipped machinery. It also
engages in manufacturing, repairing and selling of dustcarts and houses, and
leasing of real estate as well as supplying of wind-power systems that include
40kW compact wind-power systems to 2MW wind-power generator systems, which
provide clean energy. FHI operates through four business divisions, namely,
Automobiles, Aerospace, Industrial Products and Others. For the fiscal year
ended 2011, the Automobile segment accounted for 92% of the company’s total
revenue, followed by Aerospace 5%, Industrial products with 2%, and Others with
1%. This diversified product portfolio of the company provides it with the
economic stability and an edge in attracting and retaining a diverse customer
base. It also helps the company to mitigate the risks associated with the over
dependence on a particular brand or product category.
A wide geographical presence helps the company to mitigate various risks
associated with the over dependence on a particular market. It operates across
the world through more than 100 subsidiaries and nine associated companies. The
company has strong market position in Japan; North America which includes US
and Canada, and Others. For the fiscal year ended 2011, the Japan segment
accounted for 29% of the company’s total revenue, followed by North America
46%, Europe with 8%, Asia with 8.7%, and Others with 7.7%. A wide geographic
presence decreases the business risk for the company. This also acts as an easy
way for the expansion plans of the company, as a wider reach in terms of
geography would mean reaping more benefits, eventually improving the profit
margins, attaining economies of scale and recognition on a worldwide basis.
Weaknesses
Product recalls, apart from draining the profits, will affect the
reputation of the company and would result in loss of market share. In
September 2011, Subaru recalled certain outback and legacy cars from the 2010
and 2011 model years because of potential problems with their windshield
wipers. The recall affects about 195,080 vehicles manufactured between January
2010 and May 2011. In May 2010, FHI announced recall of its 2010-model legacy
and outback vehicles sold in the US due to a problem with their transmission
cooler hose, which impacted its operations. Such vehicle recalls are not a good
sign for the company. It could hamper the brand image of the company which
leads to the loss of market share and it will also give an advantage to the
FHI's competitors.
Opportunities
Growing Demand for Hybrid Electric Vehicles
FHI can capitalize on the growing demand for hybrid electric vehicles.
The demand for light hybrid electric vehicles is expected to reach 4.5 million
units by 2015 due to rising energy costs and increased emissions regulations.
Increased emissions regulations and rising energy costs give lesser emissions
and improved fuel efficiency. The demand for hybrid vehicles in the Japan is
expected to reach approximately 0.5m units by 2012 year end. FHI has plans to
launch hybrid cars to the Japanese market in 2013. Its initial product would
incorporate a horizontally opposed engine. The growing demand for hybrid
electric vehicles may enhance the revenue of the company, going forward.
The company's product innovations and introductions may drive its
top-line. FHI benefits a lot from its innovation which it considers top
priority since it creates a competitive advantage and builds brand equity.
Innovation continues to be a cornerstone of the company’s corporate strategy
with significant efforts focused against consumer demands for products that are
convenient, and more efficient than before. The company intends to launch
EyeSight driving assist system in North America in mid 2012. The new EyeSight
system is the first stereo camera technology based device that detects objects
in front of the car including pedestrians, cyclists and other vehicles. In
November 2011, FHI introduced fourth generation Subaru Impreza that
incorporates Subaru Symmetrical AWD (All-Wheel Drive) system. In September
2011, the company launched SUBARU BRZ Prologue - Boxer sports car architecture
II. It represents the technology concept of the "SUBARU BRZ", a new
rear-wheel drive (RWD) sports car, under joint development with Toyota Motor
Corporation. These new product launches help the company to renew its offerings
in line with changing requirements and style and preferences and increase its
sales of its high value-added products and drive revenue growth and keep the
company’s categories vibrant.
Growing Potential in the Emerging Markets
The fast paced growth in the emerging economies offers a huge growth
potential for the company by enabling it to leverage its strong brand and
product portfolio. Despite the global economic slowdown, growth in the East
Asia and Pacific countries such as China has been resilient. China sustained
global slowdown through a massive fiscal stimulus package. The growing economy
in the countries has generated new employment opportunities for the residents
and has boosted their earnings. This rise in disposable income has changed
their buying behavior. According to the China Association of Automobile
Manufacturers (CAAM), China's annual automobile sales reached 18.5 million
units in 2011, an increase of 2.5% over 2010. Further, strong support from the
Chinese government is expected to boost automobile sales. With high competition
and saturated markets most of the global automobile makers have shifted their
focus to China for new growth markets. As the company already has presence in
China, it can benefit from the favorable industry conditions.
Threats
FHI operates are multiple related sectors that are highly competitive
and may impact its profit margins. The company faces stiff competition from
companies like Mazda Motor Corporation; Nissan Motor Co., Ltd.; Toyota Motor
Corporation; Honda Motor Co., Ltd.; Spirit AeroSystems Holdings, Inc.; Porsche
Automobil Holding SE and Textron Inc. According to industry estimates, the
automotive manufacturing industry is projected to reach a value of $1.7
trillion. Such growing market has been leading to the principal competitors of
the company offering marketing incentives such as subsidized financing, price
rebates, leasing programs and others on the vehicles, in order to sustain and
improve their market share. Such intense competition may lead the company to
reduce its prices, which could negatively affect its overall margins.
The increasing price of raw materials could concern the company. The key
raw materials used in the automobile industry include rolled steel, aluminum,
glass, plastic and other resin materials. As per the Bureau of Labor
Statistics, producer price indexes for core raw material inputs such as rolled
steel, primary aluminum, plastic materials and resins have increased by 95.81%,
90% and 85.27% respectively for the last decade. Thus rising input costs could
have a major impact on the operational costs of the company, which could not be
easily transferred to the customers as the intense competition could lure away
its customers through their low price offerings. As a result, the margins of
the company could be affected.
Japan is prone to several natural disasters like earthquakes, typhoons,
tsunamis, and volcanic activities. Natural calamity struck Japan on March,
2011, when the company was about to resume a growth trajectory after
recuperating from the global financial and economic crisis. As a result of the
Great East Japan Earthquake, FHI recorded an extraordinary loss of JPY7.4
billion, which includes nearly JPY5 billion for fixed costs related to
suspended operations. Approximately JPY2.5 billion was applied to the loss of
inventories as well as the loss and the restoration of fixed assets. Reduced
operations following the disaster had a major impact on operating income in
fiscal 2011. Such natural disasters could adversely affect the business and
operating results of the company. Therefore, the company needs to scatter its
operations over relatively safer geographical locations to ensure uninterrupted
business operations.
Corporate Structure News
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Fuji Heavy
Industries Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Tokyo |
Japan |
Auto and Truck Manufacturers |
19,213.3 |
27,296 |
|
|
Division |
Tokyo |
Japan |
Auto and Truck Manufacturers |
4,339.7 |
10,405 |
|
|
Division |
Ota, Gunma |
Japan |
Auto and Truck Manufacturers |
|
3,221 |
|
|
Facility |
Ota, Gunma |
Japan |
Auto and Truck Parts |
|
3,086 |
|
|
Division |
Tochigi |
Japan |
Auto and Truck Manufacturers |
|
2,600 |
|
|
Division |
Utsunomiya, Tochigi |
Japan |
Aerospace and Defense |
|
2,500 |
|
|
Facility |
Ota, Gunma |
Japan |
Auto and Truck Parts |
|
2,460 |
|
|
Branch |
Utsunomiya |
Japan |
Aerospace and Defense |
1.0 |
2,230 |
|
|
Facility |
Gunma |
Japan |
Textiles - Non Apparel |
|
1,533 |
|
|
Subsidiary |
Tokyo |
Japan |
Retail (Specialty) |
|
1,275 |
|
|
Subsidiary |
Cherry Hill, NJ |
United States |
Auto and Truck Manufacturers |
10,000.0 |
1,000 |
|
|
Subsidiary |
Cherry Hill, NJ |
United States |
Auto and Truck Manufacturers |
|
500 |
|
|
Division |
Austell, GA |
United States |
Auto and Truck Parts |
370.0 |
70 |
|
|
Division |
Norwood, MA |
United States |
Auto and Truck Manufacturers |
45.5 |
65 |
|
|
Subsidiary |
Westampton, NJ |
United States |
Auto and Truck Manufacturers |
343.6 |
60 |
|
|
Division |
Aurora, CO |
United States |
Auto and Truck Manufacturers |
84.8 |
50 |
|
|
Branch |
Itasca, IL |
United States |
Business Services |
166.5 |
45 |
|
|
Division |
Itasca, IL |
United States |
Auto and Truck Manufacturers |
|
40 |
|
|
Branch |
Aurora, CO |
United States |
Retail (Specialty) |
30.1 |
35 |
|
|
Division |
Portland, OR |
United States |
Auto and Truck Manufacturers |
|
35 |
|
|
Joint Venture |
Lafayette, IN |
United States |
Auto and Truck Manufacturers |
3,535.4 |
34 |
|
|
Subsidiary |
Cherry Hill, NJ |
United States |
Consumer Financial Services |
|
20 |
|
|
Subsidiary |
Cherry Hill, NJ |
United States |
Auto and Truck Manufacturers |
|
5 |
|
|
Branch |
West Sacramento, CA |
United States |
Business Services |
11.1 |
3 |
|
|
Division |
Kitamoto, Saitama |
Japan |
Chemical Manufacturing |
225.5 |
600 |
|
|
Division |
Saitama |
Japan |
Auto and Truck Manufacturers |
1.0 |
600 |
|
|
Subsidiary |
Maebashi, Gunma Pref |
Japan |
Auto and Truck Parts |
40.3 |
403 |
|
|
Subsidiary |
Cherry Hill, NJ |
United States |
Auto and Truck Manufacturers |
|
400 |
|
|
Subsidiary |
Gunma |
Japan |
Auto and Truck Parts |
111.6 |
349 |
|
|
Subsidiary |
Usa, Oita |
Japan |
Miscellaneous Fabricated Products |
42.8 |
110 |
|
|
Subsidiary |
Kagoshima-Shi |
Japan |
Schools |
46.7 |
331 |
|
|
Subsidiary |
Zellik |
Belgium |
Auto and Truck Manufacturers |
|
18 |
|
|
Subsidiary |
Tokyo |
Japan |
Business Services |
|
220 |
|
|
Subsidiary |
Kiryu |
Japan |
Auto and Truck Manufacturers |
1.0 |
200 |
|
|
Facility |
Handa, Aichi |
Japan |
Aerospace and Defense |
|
181 |
|
|
Subsidiary |
Mississauga, ON |
Canada |
Auto and Truck Parts |
580.4 |
100 |
|
|
Division |
Isesaki, Gunma |
Japan |
Auto and Truck Parts |
236.2 |
100 |
|
|
Subsidiary |
Tokyo |
Japan |
Rental and Leasing |
190.0 |
76 |
|
|
Subsidiary |
Kanagawa |
Japan |
Auto and Truck Parts |
1.0 |
73 |
|
|
Subsidiary |
Orangeburg, NY |
United States |
Auto and Truck Manufacturers |
166.5 |
67 |
|
|
Subsidiary |
Ala, Trento |
Italy |
Retail (Specialty) |
242.7 |
55 |
|
|
Subsidiary |
Beijing |
China |
Auto and Truck Parts |
|
50 |
|
|
Fuji Heavy
Industries, Ltd. - Omiya Subaru Building Facility |
Facility |
Saitama |
Japan |
Auto and Truck Parts |
|
41 |
|
Subsidiary |
Zaventem |
Belgium |
Auto and Truck Manufacturers |
617.4 |
36 |
|
|
Subsidiary |
Friedberg (Hessen), Hessen |
Germany |
Auto and Truck Manufacturers |
295.5 |
120 |
|
|
Subsidiary |
Hagen |
Norway |
Auto and Truck Manufacturers |
88.6 |
38 |
|
|
Subsidiary |
Zaventem |
Belgium |
Auto and Truck Manufacturers |
53.9 |
11 |
|
|
Subsidiary |
Hudson, WI |
United States |
Miscellaneous Capital Goods |
|
35 |
|
|
Subsidiary |
Lake Zurich, IL |
United States |
Miscellaneous Capital Goods |
17.1 |
30 |
|
|
Subsidiary |
Lake Zurich, IL |
United States |
Miscellaneous Capital Goods |
|
30 |
|
|
Facility |
Handa, Aichi |
Japan |
Aerospace and Defense |
|
23 |
|
|
Subsidiary |
Saint Ouen l'Aumone |
France |
Auto and Truck Manufacturers |
40.6 |
20 |
|
|
Subsidiary |
Taipei |
Taiwan |
Auto and Truck Manufacturers |
|
20 |
|
|
Subsidiary |
Ann Arbor, MI |
United States |
Auto and Truck Manufacturers |
|
20 |
|
|
Subsidiary |
Mönchengladbach, Nordrhein-Westfalen |
Germany |
Aerospace and Defense |
28.5 |
13 |
|
|
Subsidiary |
Kirkland, WA |
United States |
Aerospace and Defense |
|
7 |
|
|
Subsidiary |
Ingelheim, Ingelheim |
Germany |
Auto and Truck Manufacturers |
|
7 |
|
|
Subsidiary |
Singapore |
Singapore |
Auto and Truck Manufacturers |
1.0 |
5 |
|
|
Subsidiary |
Cypress, CA |
United States |
Business Services |
|
3 |
|
|
Subsidiary |
Bunkyo-Ku, Tokyo |
Japan |
Auto and Truck Manufacturers |
581.2 |
|
|
|
Subsidiary |
Nagoya, Aichi |
Japan |
Retail (Specialty) |
225.7 |
|
|
|
Subsidiary |
Gifu, Gifu |
Japan |
Retail (Specialty) |
81.0 |
|
|
|
Subsidiary |
Yokkaichi, Mie |
Japan |
Retail (Specialty) |
64.2 |
|
|
|
Subsidiary |
Chiba, Chiba |
Japan |
Retail (Specialty) |
205.2 |
|
|
|
Subsidiary |
Fukuoka, Fukuoka |
Japan |
Retail (Specialty) |
186.0 |
|
|
|
Subsidiary |
Kagoshima, Kagoshima |
Japan |
Retail (Specialty) |
82.4 |
|
|
|
Subsidiary |
Kumamoto, Kumamoto |
Japan |
Retail (Specialty) |
57.6 |
|
|
|
Subsidiary |
Oita, Oita |
Japan |
Retail (Specialty) |
40.1 |
|
|
|
Subsidiary |
Sapporo, Hokkaido |
Japan |
Retail (Specialty) |
173.5 |
|
|
|
Subsidiary |
Niigata, Niigata |
Japan |
Auto and Truck Manufacturers |
169.0 |
|
|
|
Subsidiary |
Kanazawa, Ishikawa |
Japan |
Retail (Specialty) |
136.9 |
|
|
|
Subsidiary |
Nagano, Nagano |
Japan |
Retail (Specialty) |
129.7 |
|
|
|
Subsidiary |
Kobe, Hyogo |
Japan |
Retail (Specialty) |
144.8 |
|
|
|
Subsidiary |
Sendai, Miyagi |
Japan |
Retail (Specialty) |
114.0 |
|
|
|
Subsidiary |
Kooriyama, Fukushima |
Japan |
Retail (Specialty) |
88.8 |
|
|
|
Subsidiary |
Yamagata, Yamagata |
Japan |
Retail (Specialty) |
67.5 |
|
|
|
Subsidiary |
Hiroshima, Hiroshima |
Japan |
Retail (Specialty) |
97.3 |
|
|
|
Subsidiary |
Takamatsu, Kagawa |
Japan |
Retail (Specialty) |
65.1 |
|
|
|
Subsidiary |
Yonago, Tottori |
Japan |
Retail (Specialty) |
81.0 |
|
|
|
Subsidiary |
Matsuyama, Ehime |
Japan |
Retail (Specialty) |
79.8 |
|
|
|
Subsidiary |
Nagasaki, Nagasaki |
Japan |
Retail (Specialty) |
76.5 |
|
|
|
Subsidiary |
San Juan |
Puerto Rico |
Auto and Truck Parts |
75.0 |
|
|
|
Subsidiary |
Zellik |
Belgium |
Auto and Truck Parts |
75.0 |
|
|
|
Subsidiary |
Yamaguchi, Yamaguchi |
Japan |
Retail (Specialty) |
71.5 |
|
|
|
Subsidiary |
Morioka, Iwate |
Japan |
Retail (Specialty) |
67.7 |
|
|
|
Subsidiary |
Kita-Ku, Saitama, Fukui |
Japan |
Software and Programming |
64.5 |
|
|
|
Subsidiary |
Kyoto, Kyoto |
Japan |
Retail (Specialty) |
56.1 |
|
|
|
Subsidiary |
Mitaka, Tokyo |
Japan |
Business Services |
41.6 |
|
|
|
Subsidiary |
Handa, Aichi |
Japan |
Aerospace and Defense |
8.6 |
|
|
|
Subsidiary |
Mitaka, Tokyo |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Isesaki, Gunma |
Japan |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Fukuoka |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Isesaki, Gunma |
Japan |
Construction - Raw Materials |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Kusatsu, Shiga |
Japan |
Auto and Truck Manufacturers |
55.6 |
|
|
|
Subsidiary |
Utsunomiya |
Japan |
Aerospace and Defense |
|
|
|
|
Subsidiary |
Changzhou, Jiangsu Province |
China |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Beijing |
China |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Rotterdam |
Netherlands |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Saitama |
Japan |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Ota, Gunma |
Japan |
Miscellaneous Transportation |
|
|
|
|
Subsidiary |
Utsunomiya, Tochigi |
Japan |
Aerospace and Defense |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Transportation |
|
|
|
|
Subsidiary |
Okegawa, Saitama |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Retail (Catalog and Mail Order) |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Auto and Truck Parts |
|
|
|
Executives Report
|
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Significant Developments
|
|
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
Revenue |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
Total Revenue |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
15,481.3 |
14,487.2 |
12,416.0 |
11,589.5 |
10,653.0 |
|
Cost of Revenue, Total |
15,481.3 |
14,487.2 |
12,416.0 |
11,589.5 |
10,653.0 |
|
Gross Profit |
3,732.0 |
3,957.6 |
2,956.0 |
2,798.7 |
3,103.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
3,175.3 |
1,060.7 |
939.3 |
1,035.0 |
916.7 |
|
Labor & Related Expense |
- |
978.4 |
894.7 |
943.9 |
885.9 |
|
Advertising Expense |
- |
437.5 |
442.0 |
455.4 |
454.1 |
|
Total Selling/General/Administrative Expenses |
3,175.3 |
2,476.6 |
2,276.0 |
2,434.3 |
2,256.7 |
|
Research & Development |
- |
499.2 |
398.5 |
422.1 |
446.7 |
|
Depreciation |
14.8 |
13.6 |
13.9 |
10.0 |
- |
|
Amortization of Acquisition Costs |
- |
- |
- |
- |
0.0 |
|
Depreciation/Amortization |
14.8 |
13.6 |
13.9 |
10.0 |
0.0 |
|
Impairment-Assets Held for Use |
0.8 |
17.0 |
192.7 |
10.4 |
115.3 |
|
Impairment-Assets Held for Sale |
69.9 |
-1.8 |
7.4 |
63.4 |
-41.9 |
|
Other Unusual Expense (Income) |
144.7 |
207.9 |
5.4 |
123.3 |
-14.2 |
|
Unusual Expense (Income) |
215.4 |
223.1 |
205.4 |
197.1 |
59.1 |
|
Total Operating Expense |
18,886.8 |
17,699.6 |
15,309.8 |
14,653.0 |
13,415.5 |
|
|
|
|
|
|
|
|
Operating Income |
326.5 |
745.2 |
62.2 |
-264.8 |
340.5 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-47.9 |
-52.8 |
-53.2 |
-33.0 |
-35.5 |
|
Interest Expense, Net Non-Operating |
-47.9 |
-52.8 |
-53.2 |
-33.0 |
-35.5 |
|
Interest Income -
Non-Operating |
13.8 |
12.8 |
10.4 |
26.5 |
38.2 |
|
Investment Income -
Non-Operating |
60.8 |
34.1 |
20.9 |
99.3 |
-14.0 |
|
Interest/Investment Income - Non-Operating |
74.5 |
46.8 |
31.3 |
125.8 |
24.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
26.7 |
-5.9 |
-21.9 |
92.8 |
-11.4 |
|
Gain (Loss) on Sale of Assets |
339.5 |
2.6 |
-29.1 |
-26.0 |
-30.3 |
|
Other Non-Operating Income (Expense) |
-23.0 |
-4.1 |
-15.9 |
-16.1 |
-19.7 |
|
Other, Net |
-23.0 |
-4.1 |
-15.9 |
-16.1 |
-19.7 |
|
Income Before Tax |
669.7 |
737.7 |
-4.8 |
-214.1 |
279.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
181.5 |
149.4 |
173.6 |
483.6 |
117.1 |
|
Income After Tax |
488.2 |
588.3 |
-178.3 |
-697.8 |
162.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.2 |
-1.0 |
1.4 |
1.8 |
-0.3 |
|
Net Income Before Extraord Items |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
Net Income |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
- |
- |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
- |
- |
- |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
780.4 |
779.5 |
779.1 |
760.4 |
718.2 |
|
Basic EPS Excl Extraord Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Basic/Primary EPS Incl Extraord Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
Diluted Weighted Average Shares |
780.4 |
779.5 |
779.1 |
760.4 |
718.3 |
|
Diluted EPS Excl Extraord Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Diluted EPS Incl Extraord Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Dividends per Share - Common Stock Primary Issue |
0.11 |
0.11 |
0.00 |
0.04 |
0.08 |
|
Gross Dividends - Common Stock |
89.0 |
82.0 |
0.0 |
34.9 |
56.6 |
|
Interest Expense, Supplemental |
47.9 |
52.8 |
53.2 |
33.0 |
35.5 |
|
Depreciation, Supplemental |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Total Special Items |
-124.1 |
220.5 |
234.5 |
223.1 |
89.4 |
|
Normalized Income Before Tax |
545.6 |
958.2 |
229.8 |
9.0 |
368.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-33.6 |
44.7 |
82.1 |
78.1 |
37.5 |
|
Inc Tax Ex Impact of Sp Items |
147.8 |
194.0 |
255.7 |
561.7 |
154.6 |
|
Normalized Income After Tax |
397.7 |
764.2 |
-25.9 |
-552.8 |
213.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
396.5 |
763.2 |
-24.5 |
-550.9 |
213.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.51 |
0.98 |
-0.03 |
-0.72 |
0.30 |
|
Diluted Normalized EPS |
0.51 |
0.98 |
-0.03 |
-0.72 |
0.30 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
- |
- |
0.0 |
|
Advertising Expense, Supplemental |
- |
437.5 |
442.0 |
455.4 |
454.1 |
|
Research & Development Exp, Supplemental |
- |
500.7 |
400.0 |
426.2 |
455.1 |
|
Reported Operating Profit |
556.7 |
981.8 |
294.3 |
-57.8 |
399.6 |
|
Reported Ordinary Profit |
472.1 |
959.5 |
240.6 |
-45.8 |
397.5 |
|
Normalized EBIT |
541.9 |
968.3 |
267.6 |
-67.7 |
399.6 |
|
Normalized EBITDA |
1,284.2 |
1,622.5 |
975.4 |
669.0 |
1,162.2 |
|
Current Tax - Total |
- |
- |
113.0 |
- |
- |
|
Current Tax - Total |
- |
- |
113.0 |
- |
- |
|
Deferred Tax - Total |
- |
- |
60.6 |
- |
- |
|
Deferred Tax - Total |
- |
- |
60.6 |
- |
- |
|
Income Tax - Total |
- |
- |
173.6 |
- |
- |
|
Interest Cost - Domestic |
- |
20.9 |
20.7 |
19.2 |
18.5 |
|
Service Cost - Domestic |
- |
71.5 |
68.4 |
52.4 |
76.2 |
|
Prior Service Cost - Domestic |
- |
0.6 |
0.4 |
0.3 |
-0.1 |
|
Expected Return on Assets - Domestic |
- |
-18.8 |
-15.5 |
-22.2 |
-25.0 |
|
Actuarial Gains and Losses - Domestic |
- |
22.7 |
21.3 |
9.4 |
4.6 |
|
Other Pension, Net - Domestic |
- |
-0.2 |
1.9 |
-8.4 |
0.0 |
|
Domestic Pension Plan Expense |
- |
96.7 |
97.1 |
50.8 |
74.2 |
|
Defined Contribution Expense - Domestic |
- |
28.9 |
23.5 |
24.0 |
- |
|
Total Pension Expense |
- |
125.5 |
120.6 |
74.8 |
74.2 |
|
Discount Rate - Domestic |
- |
1.40% |
1.40% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
- |
1.40% |
1.40% |
0.80% |
0.80% |
|
Total Plan Interest Cost |
- |
20.9 |
20.7 |
19.2 |
18.5 |
|
Total Plan Service Cost |
- |
71.5 |
68.4 |
52.4 |
76.2 |
|
Total Plan Expected Return |
- |
-18.8 |
-15.5 |
-22.2 |
-25.0 |
|
Total Plan Other Expense |
- |
-0.2 |
1.9 |
-8.4 |
0.0 |
|
|
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
2,884.2 |
2,554.3 |
1,804.8 |
791.2 |
673.7 |
|
Short Term Investments |
384.0 |
254.1 |
133.3 |
115.8 |
329.3 |
|
Cash and Short Term Investments |
3,268.2 |
2,808.4 |
1,938.2 |
907.1 |
1,002.9 |
|
Accounts Receivable -
Trade, Gross |
1,420.9 |
926.8 |
1,107.9 |
833.8 |
964.7 |
|
Provision for Doubtful
Accounts |
-16.9 |
-22.3 |
-18.0 |
-15.3 |
-13.5 |
|
Trade Accounts Receivable - Net |
1,404.0 |
904.4 |
1,089.8 |
818.5 |
951.1 |
|
Notes Receivable - Short Term |
956.3 |
723.8 |
811.0 |
601.7 |
786.9 |
|
Total Receivables, Net |
2,360.3 |
1,628.2 |
1,900.8 |
1,420.2 |
1,738.1 |
|
Inventories - Finished Goods |
1,477.0 |
879.2 |
1,084.7 |
1,302.5 |
1,338.0 |
|
Inventories - Work In Progress |
681.5 |
682.5 |
637.8 |
976.3 |
1,006.0 |
|
Inventories - Raw Materials |
409.2 |
446.1 |
381.8 |
346.8 |
278.3 |
|
Total Inventory |
2,567.7 |
2,007.9 |
2,104.2 |
2,625.5 |
2,622.3 |
|
Deferred Income Tax - Current Asset |
211.2 |
166.0 |
166.4 |
161.2 |
266.1 |
|
Other Current Assets |
848.3 |
753.5 |
727.8 |
819.3 |
628.0 |
|
Other Current Assets, Total |
1,059.4 |
919.4 |
894.2 |
980.4 |
894.1 |
|
Total Current Assets |
9,255.7 |
7,363.9 |
6,837.4 |
5,933.2 |
6,257.4 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
5,171.9 |
5,198.4 |
4,810.9 |
4,738.9 |
5,141.0 |
|
Goodwill, Net |
- |
- |
- |
36.7 |
185.9 |
|
Intangibles, Net |
143.4 |
145.3 |
128.4 |
104.8 |
130.3 |
|
LT Investment - Affiliate Companies |
- |
155.6 |
122.8 |
- |
- |
|
LT Investments - Other |
943.3 |
755.2 |
659.4 |
524.8 |
704.3 |
|
Long Term Investments |
943.3 |
910.8 |
782.2 |
524.8 |
704.3 |
|
Note Receivable - Long Term |
- |
- |
29.2 |
33.8 |
37.5 |
|
Deferred Income Tax - Long Term Asset |
22.7 |
21.9 |
61.5 |
108.4 |
273.8 |
|
Other Long Term Assets |
880.1 |
697.6 |
528.6 |
319.0 |
294.2 |
|
Other Long Term Assets, Total |
902.8 |
719.5 |
590.1 |
427.3 |
568.0 |
|
Total Assets |
16,417.1 |
14,337.9 |
13,178.2 |
11,799.4 |
13,024.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
3,047.2 |
2,134.4 |
2,322.9 |
1,498.6 |
2,308.5 |
|
Accrued Expenses |
1,042.8 |
931.4 |
766.2 |
654.7 |
778.2 |
|
Notes Payable/Short Term Debt |
862.3 |
1,195.4 |
1,521.0 |
2,522.5 |
1,513.3 |
|
Current Portion - Long Term Debt/Capital Leases |
531.6 |
493.6 |
375.1 |
223.2 |
515.0 |
|
Income Taxes Payable |
55.8 |
25.2 |
30.7 |
20.9 |
81.3 |
|
Other Current Liabilities |
1,277.4 |
1,020.0 |
924.4 |
763.4 |
812.0 |
|
Other Current liabilities, Total |
1,333.3 |
1,045.2 |
955.2 |
784.3 |
893.3 |
|
Total Current Liabilities |
6,817.2 |
5,800.0 |
5,940.3 |
5,683.3 |
6,008.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
2,745.0 |
2,300.2 |
2,050.2 |
1,119.6 |
1,031.4 |
|
Capital Lease Obligations |
- |
- |
7.7 |
2.9 |
- |
|
Total Long Term Debt |
2,745.0 |
2,300.2 |
2,057.9 |
1,122.5 |
1,031.4 |
|
Total Debt |
4,138.8 |
3,989.2 |
3,953.9 |
3,868.2 |
3,059.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
276.0 |
168.9 |
144.9 |
75.4 |
4.3 |
|
Deferred Income Tax |
276.0 |
168.9 |
144.9 |
75.4 |
4.3 |
|
Minority Interest |
15.8 |
15.7 |
14.0 |
7.8 |
10.3 |
|
Reserves |
- |
- |
0.0 |
7.5 |
7.5 |
|
Pension Benefits - Underfunded |
417.8 |
413.5 |
380.5 |
381.7 |
419.6 |
|
Other Long Term Liabilities |
679.6 |
660.5 |
567.5 |
532.7 |
585.9 |
|
Other Liabilities, Total |
1,097.4 |
1,074.0 |
948.0 |
921.9 |
1,013.0 |
|
Total Liabilities |
10,951.3 |
9,358.9 |
9,105.1 |
7,810.9 |
8,067.4 |
|
|
|
|
|
|
|
|
Common Stock |
1,866.8 |
1,855.6 |
1,645.9 |
1,557.1 |
1,545.1 |
|
Common Stock |
1,866.8 |
1,855.6 |
1,645.9 |
1,557.1 |
1,545.1 |
|
Additional Paid-In Capital |
1,943.0 |
1,931.4 |
1,713.1 |
1,620.6 |
1,608.5 |
|
Retained Earnings (Accumulated Deficit) |
2,288.5 |
1,893.7 |
1,179.1 |
1,281.7 |
2,288.5 |
|
Treasury Stock - Common |
-15.3 |
-16.7 |
-23.3 |
-21.1 |
-407.3 |
|
Unrealized Gain (Loss) |
230.2 |
139.6 |
110.3 |
30.4 |
137.8 |
|
Translation Adjustment |
-847.3 |
-824.6 |
-552.1 |
-480.2 |
-215.6 |
|
Other Equity, Total |
-847.3 |
-824.6 |
-552.1 |
-480.2 |
-215.6 |
|
Total Equity |
5,465.8 |
4,979.0 |
4,073.1 |
3,988.5 |
4,957.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
16,417.1 |
14,337.9 |
13,178.2 |
11,799.4 |
13,024.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
780.5 |
780.3 |
779.0 |
779.2 |
718.2 |
|
Total Common Shares Outstanding |
780.5 |
780.3 |
779.0 |
779.2 |
718.2 |
|
Treasury Shares - Common Stock Primary Issue |
2.4 |
2.6 |
3.9 |
3.7 |
64.7 |
|
Employees |
- |
27,296 |
27,586 |
27,659 |
26,404 |
|
Number of Common Shareholders |
- |
34,240 |
39,223 |
40,839 |
44,484 |
|
Total Long Term Debt, Supplemental |
- |
2,829.2 |
2,413.2 |
1,341.9 |
1,546.4 |
|
Long Term Debt Maturing within 1 Year |
- |
493.6 |
363.0 |
222.3 |
515.0 |
|
Long Term Debt Maturing in Year 2 |
- |
500.1 |
423.5 |
273.1 |
218.2 |
|
Long Term Debt Maturing in Year 3 |
- |
544.7 |
751.9 |
339.1 |
245.3 |
|
Long Term Debt Maturing in Year 4 |
- |
502.9 |
332.3 |
346.4 |
205.3 |
|
Long Term Debt Maturing in Year 5 |
- |
499.2 |
423.3 |
121.4 |
327.8 |
|
Long Term Debt Maturing in 2-3 Years |
- |
1,044.8 |
1,175.4 |
612.1 |
463.5 |
|
Long Term Debt Maturing in 4-5 Years |
- |
1,002.2 |
755.6 |
467.8 |
533.1 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
288.6 |
119.1 |
39.6 |
34.8 |
|
Total Capital Leases, Supplemental |
- |
22.4 |
19.7 |
3.8 |
- |
|
Capital Lease Payments Due in Year 1 |
- |
8.1 |
12.0 |
0.9 |
- |
|
Capital Lease Payments Due in Year 2 |
- |
7.0 |
3.6 |
0.8 |
- |
|
Capital Lease Payments Due in Year 3 |
- |
3.8 |
2.1 |
0.8 |
- |
|
Capital Lease Payments Due in Year 4 |
- |
2.4 |
1.2 |
0.5 |
- |
|
Capital Lease Payments Due in Year 5 |
- |
0.9 |
0.6 |
0.2 |
- |
|
Capital Lease Payments Due in 2-3 Years |
- |
10.8 |
5.7 |
1.6 |
- |
|
Capital Lease Payments Due in 4-5 Years |
- |
3.3 |
1.8 |
0.7 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
0.2 |
0.2 |
0.6 |
- |
|
Pension Obligation - Domestic |
- |
1,217.6 |
1,105.4 |
1,047.4 |
1,153.2 |
|
Plan Assets - Domestic |
- |
611.4 |
504.4 |
427.3 |
614.2 |
|
Funded Status - Domestic |
- |
-606.2 |
-601.0 |
-620.2 |
-539.0 |
|
Total Funded Status |
- |
-606.2 |
-601.0 |
-620.2 |
-539.0 |
|
Discount Rate - Domestic |
- |
1.40% |
1.40% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
- |
1.40% |
1.40% |
0.80% |
0.80% |
|
Prepaid Benefits - Domestic |
- |
69.8 |
0.6 |
0.6 |
0.7 |
|
Accrued Liabilities - Domestic |
- |
-406.7 |
-373.1 |
-374.6 |
-411.8 |
|
Other Assets, Net - Domestic |
- |
269.3 |
228.4 |
246.2 |
127.8 |
|
Net Assets Recognized on Balance Sheet |
- |
-67.7 |
-144.2 |
-127.9 |
-283.3 |
|
Total Plan Obligations |
- |
1,217.6 |
1,105.4 |
1,047.4 |
1,153.2 |
|
Total Plan Assets |
- |
611.4 |
504.4 |
427.3 |
614.2 |
|
|
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
669.7 |
737.7 |
-4.8 |
-214.1 |
279.1 |
|
Depreciation |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Depreciation/Depletion |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Amortization of Acquisition Costs |
- |
- |
- |
- |
0.0 |
|
Amortization |
- |
- |
- |
- |
0.0 |
|
Unusual Items |
-277.5 |
17.5 |
232.1 |
106.1 |
76.8 |
|
Equity in Net Earnings (Loss) |
-10.3 |
-30.6 |
-11.5 |
-9.2 |
-4.4 |
|
Other Non-Cash Items |
9.8 |
142.6 |
28.5 |
139.4 |
-62.2 |
|
Non-Cash Items |
-278.1 |
129.6 |
249.1 |
236.3 |
10.2 |
|
Accounts Receivable |
-717.8 |
311.3 |
-327.7 |
149.9 |
4.0 |
|
Inventories |
-621.0 |
218.0 |
607.8 |
-186.3 |
-399.2 |
|
Other Assets |
-8.3 |
84.0 |
-37.0 |
-19.5 |
0.0 |
|
Accounts Payable |
939.7 |
-439.2 |
726.9 |
-728.1 |
386.7 |
|
Accrued Expenses |
1.9 |
11.4 |
12.6 |
-20.3 |
1.2 |
|
Other Liabilities |
53.9 |
-92.3 |
35.4 |
-47.3 |
-97.2 |
|
Other Operating Cash Flow |
-87.4 |
-1.8 |
-68.5 |
-12.8 |
-6.2 |
|
Changes in Working Capital |
-439.0 |
91.4 |
949.4 |
-864.3 |
-110.7 |
|
Cash from Operating Activities |
694.8 |
1,612.9 |
1,901.6 |
-105.3 |
941.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-621.3 |
-522.0 |
-571.2 |
-581.3 |
-1,045.3 |
|
Purchase/Acquisition of Intangibles |
-40.6 |
-35.9 |
-31.1 |
-27.0 |
-24.3 |
|
Capital Expenditures |
-661.9 |
-557.9 |
-602.3 |
-608.3 |
-1,069.6 |
|
Sale of Fixed Assets |
460.6 |
21.9 |
25.7 |
8.3 |
526.0 |
|
Sale/Maturity of Investment |
217.4 |
247.2 |
80.1 |
170.9 |
191.9 |
|
Purchase of Investments |
-273.2 |
-291.2 |
-170.0 |
-241.3 |
-198.9 |
|
Other Investing Cash Flow |
-79.9 |
-16.4 |
-7.6 |
-49.9 |
157.7 |
|
Other Investing Cash Flow Items, Total |
325.0 |
-38.5 |
-71.8 |
-112.0 |
676.6 |
|
Cash from Investing Activities |
-336.9 |
-596.4 |
-674.1 |
-720.4 |
-393.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
1.4 |
3.8 |
-0.5 |
0.0 |
0.0 |
|
Financing Cash Flow Items |
1.4 |
3.8 |
-0.5 |
0.0 |
0.0 |
|
Cash Dividends Paid - Common |
-89.0 |
-40.8 |
0.0 |
-67.1 |
-56.6 |
|
Total Cash Dividends Paid |
-89.0 |
-40.8 |
0.0 |
-67.1 |
-56.6 |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
310.2 |
0.2 |
|
Repurchase/Retirement
of Common |
- |
- |
-1.0 |
-0.5 |
-0.5 |
|
Common Stock, Net |
- |
- |
-1.0 |
309.7 |
-0.3 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
-1.0 |
309.7 |
-0.3 |
|
Short Term Debt, Net |
-355.0 |
-502.2 |
-1,139.7 |
691.8 |
-183.5 |
|
Long Term Debt Issued |
1,007.9 |
803.2 |
1,232.7 |
368.8 |
27.1 |
|
Long Term Debt
Reduction |
-532.6 |
-723.9 |
-291.3 |
-502.6 |
-181.4 |
|
Long Term Debt, Net |
475.3 |
79.3 |
941.4 |
-133.7 |
-154.3 |
|
Issuance (Retirement) of Debt, Net |
120.3 |
-422.9 |
-198.3 |
558.1 |
-337.8 |
|
Cash from Financing Activities |
32.8 |
-459.9 |
-199.7 |
800.6 |
-394.7 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.2 |
-133.7 |
-8.8 |
-155.4 |
-17.2 |
|
Net Change in Cash |
386.5 |
422.9 |
1,018.9 |
-180.5 |
136.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2,882.0 |
2,234.4 |
1,041.1 |
1,141.0 |
866.6 |
|
Net Cash - Ending Balance |
3,268.5 |
2,657.3 |
2,060.1 |
960.5 |
1,003.0 |
|
Cash Interest Paid |
46.5 |
53.6 |
56.0 |
30.5 |
36.2 |
|
Cash Taxes Paid |
141.8 |
117.5 |
65.0 |
147.1 |
100.4 |
|
|
|
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
Total Revenue |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
|
|
|
|
|
|
|
Cost of Sales |
15,481.3 |
14,487.2 |
12,403.2 |
11,589.5 |
10,653.0 |
|
Sell./Gen./Admin. |
3,175.3 |
- |
- |
- |
- |
|
Salary/Bonus |
- |
497.4 |
481.2 |
465.7 |
414.8 |
|
Advertisement |
- |
437.5 |
442.0 |
455.4 |
454.1 |
|
Sales incentive expenses |
- |
412.5 |
355.0 |
424.5 |
416.2 |
|
Allowance Bonus |
- |
68.5 |
58.5 |
53.6 |
54.9 |
|
Research&Development |
- |
499.2 |
398.5 |
422.1 |
446.7 |
|
Other SGA |
- |
1,060.7 |
939.3 |
1,035.0 |
916.7 |
|
SP Reverse-Doubt.Acct |
0.0 |
-4.8 |
-3.0 |
-1.1 |
- |
|
SP G on prior period adjustments |
- |
- |
- |
0.0 |
-13.5 |
|
SP G on pension accounting change |
- |
- |
0.0 |
-8.4 |
0.0 |
|
SP G. pension fund refund |
- |
- |
- |
- |
0.0 |
|
SP Other Special Gain |
-44.1 |
-0.1 |
-0.6 |
-10.4 |
-0.7 |
|
SP Impairment Loss |
0.8 |
17.0 |
192.7 |
10.4 |
115.3 |
|
SP Loss on disaster |
91.9 |
85.8 |
0.0 |
- |
- |
|
SP Loss Val. Invest Sec |
5.1 |
4.8 |
5.6 |
10.7 |
0.2 |
|
SP Loss on prior periods adjustment |
0.0 |
71.3 |
0.0 |
- |
- |
|
SP Spec. prov. for doubtful acts |
- |
- |
0.0 |
26.3 |
0.0 |
|
SP Reserve for construction losses |
- |
- |
0.0 |
28.9 |
0.0 |
|
SP Reserve debt guarantee |
- |
- |
- |
- |
0.0 |
|
SP Loss on abandonment of inventories |
- |
0.0 |
12.8 |
0.0 |
- |
|
SP Prov. for loss on transfer of busine |
52.9 |
0.0 |
- |
- |
- |
|
SP L adjust for changes of acct. assets |
0.0 |
4.3 |
0.0 |
- |
- |
|
SP L reconstruction of office building |
0.0 |
7.7 |
0.0 |
- |
- |
|
SP Other Special Loss |
44.0 |
43.8 |
9.0 |
88.1 |
- |
|
NOP G. Derivative Valuation |
0.0 |
-6.7 |
-0.1 |
0.0 |
-43.1 |
|
NOP Amort. of Negative Goodwill |
- |
- |
- |
- |
0.0 |
|
NOP Loss Valuation Derivative |
64.8 |
0.0 |
1.9 |
52.7 |
1.0 |
|
NOP Dep. exp. |
14.8 |
13.6 |
13.9 |
10.0 |
- |
|
Total Operating Expense |
18,886.8 |
17,699.6 |
15,309.8 |
14,653.0 |
13,415.5 |
|
|
|
|
|
|
|
|
NOP Interest Income |
13.8 |
12.8 |
10.4 |
26.5 |
38.2 |
|
NOP Dividend Income |
12.7 |
9.9 |
8.1 |
10.7 |
10.0 |
|
NOP Rental Income |
6.7 |
6.5 |
6.2 |
5.8 |
8.0 |
|
NOP Equity Gain |
10.3 |
30.6 |
11.5 |
9.2 |
4.4 |
|
NOP Exchange Gain |
29.0 |
0.0 |
1.1 |
77.3 |
0.0 |
|
NOP Other Income |
14.6 |
19.7 |
11.6 |
17.7 |
27.9 |
|
NOP Interest Expense |
-47.9 |
-52.8 |
-53.2 |
-33.0 |
-35.5 |
|
NOP Foreign exchange losses |
0.0 |
-11.8 |
0.0 |
0.0 |
-41.5 |
|
NOP Other Expense |
-44.3 |
-30.3 |
-33.7 |
-39.7 |
-55.6 |
|
SP Gain on Asset Sale |
362.9 |
10.3 |
3.8 |
3.6 |
12.9 |
|
SP Gain Sale Invest Sec |
11.3 |
7.6 |
2.2 |
6.7 |
13.1 |
|
SP G on transfer of acct. receive. |
0.0 |
10.3 |
3.2 |
8.3 |
4.8 |
|
SP Loss on Asset Sale/Retire. |
-23.4 |
-18.1 |
-36.1 |
-37.9 |
-48.0 |
|
SP Loss Sale Inv. Secs. |
-2.6 |
-2.2 |
-2.0 |
-4.7 |
0.0 |
|
SP Liquidate Affiliate |
- |
- |
- |
- |
0.0 |
|
Net Income Before Taxes |
669.7 |
737.7 |
-4.8 |
-214.1 |
279.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
181.5 |
149.4 |
173.6 |
483.6 |
117.1 |
|
Net Income After Taxes |
488.2 |
588.3 |
-178.3 |
-697.8 |
162.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.2 |
-1.0 |
1.4 |
1.8 |
-0.3 |
|
Net Income Before Extra. Items |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
Net Income |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Director's Retire |
- |
- |
- |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
780.4 |
779.5 |
779.1 |
760.4 |
718.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Basic EPS Including ExtraOrdinary Item |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
Diluted Weighted Average Shares |
780.4 |
779.5 |
779.1 |
760.4 |
718.3 |
|
Diluted EPS Excluding ExtraOrd Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Diluted EPS Including ExtraOrd Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
DPS-Common Stock |
0.11 |
0.11 |
0.00 |
0.04 |
0.08 |
|
Gross Dividends - Common Stock |
89.0 |
82.0 |
0.0 |
34.9 |
56.6 |
|
Normalized Income Before Taxes |
545.6 |
958.2 |
229.8 |
9.0 |
368.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
147.8 |
194.0 |
255.7 |
561.7 |
154.6 |
|
Normalized Income After Taxes |
397.7 |
764.2 |
-25.9 |
-552.8 |
213.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
396.5 |
763.2 |
-24.5 |
-550.9 |
213.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.51 |
0.98 |
-0.03 |
-0.72 |
0.30 |
|
Diluted Normalized EPS |
0.51 |
0.98 |
-0.03 |
-0.72 |
0.30 |
|
Advertisement |
- |
437.5 |
442.0 |
455.4 |
454.1 |
|
Research&Development (SGA) |
- |
499.2 |
398.5 |
422.1 |
446.7 |
|
Research&Development (COGS) |
- |
1.5 |
1.4 |
4.1 |
8.4 |
|
Interest Expense |
47.9 |
52.8 |
53.2 |
33.0 |
35.5 |
|
Amort of Negative Goodwill |
- |
- |
- |
- |
0.0 |
|
Depreciation |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Income taxes-current |
- |
- |
113.0 |
- |
- |
|
Current Tax - Total |
- |
- |
113.0 |
- |
- |
|
Income taxes-deferred |
- |
- |
60.6 |
- |
- |
|
Deferred Tax - Total |
- |
- |
60.6 |
- |
- |
|
Income Tax - Total |
- |
- |
173.6 |
- |
- |
|
Reported operating profit |
556.7 |
981.8 |
294.3 |
-57.8 |
399.6 |
|
Reported ordinary profit |
472.1 |
959.5 |
240.6 |
-45.8 |
397.5 |
|
Service cost |
- |
71.5 |
68.4 |
52.4 |
76.2 |
|
Interest cost |
- |
20.9 |
20.7 |
19.2 |
18.5 |
|
Expected return on plan asset |
- |
-18.8 |
-15.5 |
-22.2 |
-25.0 |
|
Actuarial G/L |
- |
22.7 |
21.3 |
9.4 |
4.6 |
|
Prior service cost |
- |
0.6 |
0.4 |
0.3 |
-0.1 |
|
Return of Pension Plan |
- |
-2.8 |
0.0 |
-8.4 |
0.0 |
|
Nonrecurr. add. retire. benefits |
- |
2.6 |
1.9 |
- |
- |
|
Domestic Pension Plan Expense |
- |
96.7 |
97.1 |
50.8 |
74.2 |
|
Defined Contribution Expense |
- |
28.9 |
23.5 |
24.0 |
- |
|
Total Pension Expense |
- |
125.5 |
120.6 |
74.8 |
74.2 |
|
Discount rate |
- |
1.40% |
1.40% |
2.00% |
2.00% |
|
Expected rate of return |
- |
1.40% |
1.40% |
0.80% |
0.80% |
|
|
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash/Equivalents |
2,884.2 |
2,554.3 |
1,804.8 |
791.2 |
673.7 |
|
Note&Accr. Rcvbl. |
1,420.9 |
926.8 |
1,107.9 |
833.8 |
964.7 |
|
Lease investment |
265.4 |
278.1 |
297.4 |
274.1 |
0.0 |
|
Marketable Secs. |
384.0 |
254.1 |
133.3 |
115.8 |
329.3 |
|
Inventories - merchandise&finished goods |
1,477.0 |
879.2 |
1,084.7 |
1,302.5 |
1,338.0 |
|
Inventories - work-in-process |
681.5 |
682.5 |
637.8 |
976.3 |
1,006.0 |
|
Inventories - raw materials&supplies |
409.2 |
446.1 |
381.8 |
346.8 |
278.3 |
|
Deferred Taxes |
211.2 |
166.0 |
166.4 |
161.2 |
266.1 |
|
ST Loans Rcvbl. |
956.3 |
723.8 |
811.0 |
601.7 |
786.9 |
|
Other Assets |
582.9 |
475.3 |
430.4 |
545.2 |
628.0 |
|
Allw-Doubt.Acct |
-16.9 |
-22.3 |
-18.0 |
-15.3 |
-13.5 |
|
Total Current Assets |
9,255.7 |
7,363.9 |
6,837.4 |
5,933.2 |
6,257.4 |
|
|
|
|
|
|
|
|
Buildings & Structures, Net |
1,376.0 |
1,427.0 |
1,338.7 |
1,249.4 |
1,249.2 |
|
Machineries, Equipment, & Vehicles, Net |
1,204.4 |
980.5 |
935.5 |
1,094.2 |
1,144.1 |
|
Land |
2,086.8 |
2,144.0 |
1,921.1 |
1,860.3 |
1,828.2 |
|
Lease asset |
- |
- |
0.0 |
3.5 |
481.3 |
|
Vehicles and equipment on oper. lease |
150.0 |
141.8 |
196.9 |
206.8 |
- |
|
Constr. in Prog. |
145.9 |
258.1 |
135.6 |
124.4 |
102.1 |
|
Other PPE,Net |
208.8 |
247.0 |
283.1 |
200.3 |
336.1 |
|
Goodwill |
- |
- |
- |
36.7 |
185.9 |
|
Other Intangible |
143.4 |
145.3 |
128.4 |
104.8 |
130.3 |
|
LT Inv. Securities |
943.3 |
755.2 |
659.4 |
524.8 |
704.3 |
|
Equity secs.-nonconsol affil.&sub. |
- |
65.8 |
66.0 |
- |
- |
|
Inv't partnership-nonconsol.affil.&subs. |
- |
89.7 |
56.8 |
- |
- |
|
LT Loans Rcvbl. |
- |
- |
29.2 |
33.8 |
37.5 |
|
Deferred Taxes |
22.7 |
21.9 |
61.5 |
108.4 |
273.8 |
|
Other |
923.6 |
746.0 |
584.0 |
378.9 |
325.2 |
|
Allowance for investment loss |
- |
0.0 |
-0.3 |
0.0 |
- |
|
Doubtful Accts. |
-43.5 |
-48.4 |
-55.1 |
-60.0 |
-31.0 |
|
Total Assets |
16,417.1 |
14,337.9 |
13,178.2 |
11,799.4 |
13,024.4 |
|
|
|
|
|
|
|
|
Note&Acct. Pay |
3,047.2 |
2,134.4 |
2,322.9 |
1,498.6 |
2,308.5 |
|
ST Borrowings |
862.3 |
1,195.4 |
1,521.0 |
2,279.5 |
1,453.0 |
|
Commercial Paper |
- |
- |
0.0 |
243.0 |
60.3 |
|
LT borrowings (current) |
288.7 |
252.2 |
148.9 |
222.3 |
213.6 |
|
Cur.Port. Bonds |
242.9 |
241.4 |
214.1 |
0.0 |
301.4 |
|
Cur.Port. Capital Lease |
- |
- |
12.0 |
0.9 |
- |
|
Income Tax Payable |
55.8 |
25.2 |
30.7 |
20.9 |
81.3 |
|
Accrued Expenses |
842.8 |
734.5 |
601.9 |
511.5 |
622.4 |
|
Accrued Bonus |
200.0 |
196.9 |
164.3 |
143.2 |
155.8 |
|
Warranty Reserve |
350.3 |
327.8 |
214.0 |
181.6 |
226.7 |
|
Provision for loss on transfer of busine |
50.7 |
0.0 |
- |
- |
- |
|
Reserve for construction losses |
34.5 |
56.5 |
15.0 |
7.7 |
0.0 |
|
Other |
841.9 |
635.7 |
695.4 |
574.1 |
585.3 |
|
Total Current Liabilities |
6,817.2 |
5,800.0 |
5,940.3 |
5,683.3 |
6,008.4 |
|
|
|
|
|
|
|
|
Capital Lease Liab. |
- |
- |
7.7 |
2.9 |
- |
|
Bonds |
49.4 |
290.5 |
471.9 |
607.5 |
602.8 |
|
Long Term Debt |
2,695.6 |
2,009.7 |
1,578.3 |
512.1 |
428.6 |
|
Total Long Term Debt |
2,745.0 |
2,300.2 |
2,057.9 |
1,122.5 |
1,031.4 |
|
|
|
|
|
|
|
|
Deferred Taxes on land reval. |
- |
- |
- |
- |
0.0 |
|
Deferred tax liabilities (non-current) |
276.0 |
168.9 |
144.9 |
75.4 |
4.3 |
|
Rsrv-Accr.Retire |
412.1 |
406.7 |
373.1 |
374.6 |
411.8 |
|
Allw-Dir.'s Ret |
5.7 |
6.8 |
7.3 |
7.1 |
7.8 |
|
Reserve debt guarantee |
- |
- |
0.0 |
7.5 |
7.5 |
|
Negative goodwill |
- |
- |
- |
- |
0.0 |
|
Other Liabilities |
679.6 |
660.5 |
567.5 |
532.7 |
585.9 |
|
Minority Int. |
15.8 |
15.7 |
14.0 |
7.8 |
10.3 |
|
Total Liabilities |
10,951.3 |
9,358.9 |
9,105.1 |
7,810.9 |
8,067.4 |
|
|
|
|
|
|
|
|
Common Stock |
1,866.8 |
1,855.6 |
1,645.9 |
1,557.1 |
1,545.1 |
|
Paid in Capital |
1,943.0 |
1,931.4 |
1,713.1 |
1,620.6 |
1,608.5 |
|
Retained Earning |
2,288.5 |
1,893.7 |
1,179.1 |
1,281.7 |
2,288.5 |
|
Treasury Stock |
-15.3 |
-16.7 |
-23.3 |
-21.1 |
-407.3 |
|
Unrealized Gains |
230.2 |
139.6 |
110.3 |
30.4 |
137.8 |
|
Reval. Excess |
- |
- |
- |
- |
0.0 |
|
Trans. Adjust. |
-847.3 |
-824.6 |
-552.1 |
-480.2 |
-215.6 |
|
Total Equity |
5,465.8 |
4,979.0 |
4,073.1 |
3,988.5 |
4,957.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
16,417.1 |
14,337.9 |
13,178.2 |
11,799.4 |
13,024.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
780.5 |
780.3 |
779.0 |
779.2 |
718.2 |
|
Total Common Shares Outstanding |
780.5 |
780.3 |
779.0 |
779.2 |
718.2 |
|
T/S-Common Stock |
2.4 |
2.6 |
3.9 |
3.7 |
64.7 |
|
Full-Time Employees |
- |
27,296 |
27,586 |
27,659 |
26,404 |
|
Number of Common Shareholders |
- |
34,240 |
39,223 |
40,839 |
44,484 |
|
Long Term Debt Maturing within 1 Yr |
- |
493.6 |
363.0 |
222.3 |
515.0 |
|
Long Term Debt Maturing within 2 Yr |
- |
500.1 |
423.5 |
273.1 |
218.2 |
|
Long Term Debt Maturing within 3 Yr |
- |
544.7 |
751.9 |
339.1 |
245.3 |
|
Long Term Debt Maturing within 4 Yr |
- |
502.9 |
332.3 |
346.4 |
205.3 |
|
Long Term Debt Maturing within 5 Yr |
- |
499.2 |
423.3 |
121.4 |
327.8 |
|
Long Term Debt Remaining Maturity |
- |
288.6 |
119.1 |
39.6 |
34.8 |
|
Total Long Term Debt, Supplemental |
- |
2,829.2 |
2,413.2 |
1,341.9 |
1,546.4 |
|
Capital Lease Within 1 Year |
- |
8.1 |
12.0 |
0.9 |
- |
|
Capital Lease Within 2 Years |
- |
7.0 |
3.6 |
0.8 |
- |
|
Capital Lease Within 3 Years |
- |
3.8 |
2.1 |
0.8 |
- |
|
Capital Lease Within 4 Years |
- |
2.4 |
1.2 |
0.5 |
- |
|
Capital Lease Within 5 Years |
- |
0.9 |
0.6 |
0.2 |
- |
|
Capital Lease remaining |
- |
0.2 |
0.2 |
0.6 |
- |
|
Total Capital Leases |
- |
22.4 |
19.7 |
3.8 |
- |
|
Pension obligation |
- |
1,217.6 |
1,105.4 |
1,047.4 |
1,153.2 |
|
Fair value of plan asset |
- |
611.4 |
504.4 |
427.3 |
614.2 |
|
Funded status |
- |
-606.2 |
-601.0 |
-620.2 |
-539.0 |
|
Total Funded Status |
- |
-606.2 |
-601.0 |
-620.2 |
-539.0 |
|
Discont rate |
- |
1.40% |
1.40% |
2.00% |
2.00% |
|
Expected return rate |
- |
1.40% |
1.40% |
0.80% |
0.80% |
|
Unrecog. actuarial G/L |
- |
265.1 |
225.5 |
241.2 |
132.6 |
|
Unrecog. prior service cost |
- |
4.2 |
2.9 |
5.0 |
-4.8 |
|
Prepaid pension benefit |
- |
69.8 |
0.6 |
0.6 |
0.7 |
|
Reserve for accrued pension benefit |
- |
-406.7 |
-373.1 |
-374.6 |
-411.8 |
|
Net Assets Recognized on Balance Sheet |
- |
-67.7 |
-144.2 |
-127.9 |
-283.3 |
|
|
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income,Bf.Tax |
669.7 |
737.7 |
-4.8 |
-214.1 |
279.1 |
|
Depreciation |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Impairment Loss |
0.8 |
17.0 |
192.7 |
10.4 |
115.3 |
|
Allw-Doubt.Acct |
-11.2 |
-11.3 |
-6.8 |
29.4 |
-4.4 |
|
Allowance Bonus |
1.9 |
11.4 |
12.6 |
-20.3 |
1.2 |
|
Rsrv-Warranty |
21.0 |
100.6 |
18.4 |
-5.3 |
-10.8 |
|
Res. of L constr. in progress |
-23.3 |
38.3 |
6.9 |
7.6 |
0.0 |
|
Rsrv-Retire Bnft |
1.9 |
-15.0 |
-24.7 |
-50.3 |
-36.2 |
|
Reserve debt guarantee |
- |
- |
- |
- |
0.0 |
|
Int.&Divid. Income |
-26.5 |
-22.7 |
-18.5 |
-37.2 |
-48.1 |
|
Amort. of Negative Goodwill |
- |
- |
- |
- |
0.0 |
|
Interest Expense |
47.9 |
52.8 |
53.2 |
33.0 |
35.5 |
|
Gain Valuation Derivative |
- |
-6.7 |
- |
- |
-43.1 |
|
L Valuation Derivative |
64.8 |
- |
1.8 |
52.7 |
1.0 |
|
Equity Gain |
-10.3 |
-30.6 |
-11.5 |
-9.2 |
-4.4 |
|
Gain on Asset Sale/Retire. |
-339.5 |
- |
- |
- |
-12.9 |
|
Loss on Asset Sale/Retire. |
- |
7.7 |
32.3 |
34.4 |
48.0 |
|
Sale&Val. Invest Sec |
-3.6 |
-0.5 |
5.4 |
8.6 |
-13.1 |
|
G/Prior Yr. Income |
- |
- |
- |
0.0 |
-13.5 |
|
Losses on transfer of receivables |
- |
- |
- |
0.0 |
-4.8 |
|
Accounts Receivable |
-514.2 |
294.2 |
-197.0 |
59.1 |
4.0 |
|
Inventories |
-621.0 |
218.0 |
607.8 |
-186.3 |
-399.2 |
|
Accounts Payable |
939.7 |
-439.2 |
726.9 |
-728.1 |
386.7 |
|
Loss Sale Inv. Secs. |
- |
- |
- |
- |
0.0 |
|
Loss Val Invest Sec |
- |
- |
- |
- |
0.0 |
|
Lease investment |
15.0 |
51.9 |
-6.2 |
-15.3 |
0.0 |
|
Operating loans |
-203.6 |
17.1 |
-130.8 |
90.8 |
0.0 |
|
Vehicles and equip. for lease |
-23.3 |
32.1 |
-30.8 |
- |
- |
|
Lease Assets |
- |
- |
- |
-4.1 |
0.0 |
|
Deposit |
53.9 |
-92.3 |
35.4 |
-47.3 |
-97.2 |
|
Other Operating Activities |
72.0 |
146.4 |
33.9 |
127.6 |
79.0 |
|
Int.&Divid. Rcvd |
28.8 |
23.0 |
18.5 |
37.2 |
51.3 |
|
Interest Paid |
-46.5 |
-53.6 |
-56.0 |
-30.5 |
-36.2 |
|
Income Taxes Paid |
-141.8 |
-117.5 |
-65.0 |
-147.1 |
-100.4 |
|
Director's Bonus Paid |
- |
- |
- |
- |
0.0 |
|
Oversea subs. FYE change |
- |
- |
- |
141.9 |
0.0 |
|
Cash Consolid. Subs. |
- |
- |
- |
20.4 |
1.7 |
|
Cash from Operating Activities |
694.8 |
1,612.9 |
1,901.6 |
-105.3 |
941.2 |
|
|
|
|
|
|
|
|
Purc. Market. Secs. |
-65.9 |
-49.4 |
-7.6 |
-22.5 |
-41.1 |
|
Sale Market. Secs. |
42.0 |
52.0 |
11.4 |
53.0 |
52.7 |
|
Capital Expenditures |
-621.3 |
-522.0 |
-571.2 |
-581.3 |
-519.9 |
|
Sale of Fixed Assets |
460.6 |
21.9 |
25.7 |
8.3 |
20.9 |
|
Purchase lease asset |
- |
- |
- |
0.0 |
-525.3 |
|
Sale lease asset |
- |
- |
- |
0.0 |
505.1 |
|
Purc. Intangible |
-40.6 |
-35.9 |
-31.1 |
-27.0 |
-24.3 |
|
Purch. Invest. Secs. |
-207.3 |
-241.8 |
-161.9 |
-203.3 |
-157.8 |
|
Sale Invest. Secs. |
175.5 |
195.1 |
68.7 |
117.9 |
139.2 |
|
Closely-held inv'ts made |
- |
- |
-0.5 |
-15.4 |
- |
|
Loans made |
-1,174.1 |
-986.3 |
-635.4 |
-638.8 |
-950.3 |
|
Loans collected |
1,119.0 |
990.2 |
631.8 |
598.7 |
1,124.0 |
|
Other, net |
-24.8 |
-20.3 |
-4.0 |
-9.8 |
-16.0 |
|
Cash from Investing Activities |
-336.9 |
-596.4 |
-674.1 |
-720.4 |
-393.0 |
|
|
|
|
|
|
|
|
ST Borrowings |
-355.0 |
-502.2 |
-881.4 |
512.7 |
-139.7 |
|
Commercial Paper,net |
- |
0.0 |
-258.2 |
179.1 |
-43.7 |
|
Proceeds LT Debt |
1,007.9 |
803.2 |
1,188.6 |
368.8 |
27.1 |
|
Repayment LT Debt |
-269.3 |
-475.2 |
-281.0 |
-204.0 |
-93.9 |
|
Proceeds from issuance of bonds |
- |
0.0 |
44.1 |
0.0 |
0.0 |
|
Redemption of bonds |
-253.4 |
-233.5 |
0.0 |
-298.6 |
-87.5 |
|
Purch. Treasury Stock |
- |
- |
-1.0 |
-0.5 |
-0.5 |
|
Sale of Treasury Stk |
- |
- |
0.0 |
310.2 |
0.2 |
|
Cash dividends paid |
-89.0 |
-40.8 |
0.0 |
-67.1 |
-56.6 |
|
Repayments of lease obligations |
-9.8 |
-15.2 |
-10.3 |
0.0 |
- |
|
Other, net |
1.4 |
3.8 |
-0.5 |
0.0 |
0.0 |
|
Cash from Financing Activities |
32.8 |
-459.9 |
-199.7 |
800.6 |
-394.7 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.2 |
-133.7 |
-8.8 |
-155.4 |
-17.2 |
|
Net Change in Cash |
386.5 |
422.9 |
1,018.9 |
-180.5 |
136.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2,882.0 |
2,234.4 |
1,041.1 |
1,141.0 |
866.6 |
|
Net Cash - Ending Balance |
3,268.5 |
2,657.3 |
2,060.1 |
960.5 |
1,003.0 |
|
Cash Interest Paid |
46.5 |
53.6 |
56.0 |
30.5 |
36.2 |
|
Cash Taxes Paid |
141.8 |
117.5 |
65.0 |
147.1 |
100.4 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
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Ratio
Comparisons |
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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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|
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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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
Revenue |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
Total Revenue |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
15,481.3 |
14,487.2 |
12,416.0 |
11,589.5 |
10,653.0 |
|
Cost of Revenue, Total |
15,481.3 |
14,487.2 |
12,416.0 |
11,589.5 |
10,653.0 |
|
Gross Profit |
3,732.0 |
3,957.6 |
2,956.0 |
2,798.7 |
3,103.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
3,175.3 |
1,060.7 |
939.3 |
1,035.0 |
916.7 |
|
Labor & Related Expense |
- |
978.4 |
894.7 |
943.9 |
885.9 |
|
Advertising Expense |
- |
437.5 |
442.0 |
455.4 |
454.1 |
|
Total Selling/General/Administrative Expenses |
3,175.3 |
2,476.6 |
2,276.0 |
2,434.3 |
2,256.7 |
|
Research & Development |
- |
499.2 |
398.5 |
422.1 |
446.7 |
|
Depreciation |
14.8 |
13.6 |
13.9 |
10.0 |
- |
|
Amortization of Acquisition Costs |
- |
- |
- |
- |
0.0 |
|
Depreciation/Amortization |
14.8 |
13.6 |
13.9 |
10.0 |
0.0 |
|
Impairment-Assets Held for Use |
0.8 |
17.0 |
192.7 |
10.4 |
115.3 |
|
Impairment-Assets Held for Sale |
69.9 |
-1.8 |
7.4 |
63.4 |
-41.9 |
|
Other Unusual Expense (Income) |
144.7 |
207.9 |
5.4 |
123.3 |
-14.2 |
|
Unusual Expense (Income) |
215.4 |
223.1 |
205.4 |
197.1 |
59.1 |
|
Total Operating Expense |
18,886.8 |
17,699.6 |
15,309.8 |
14,653.0 |
13,415.5 |
|
|
|
|
|
|
|
|
Operating Income |
326.5 |
745.2 |
62.2 |
-264.8 |
340.5 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-47.9 |
-52.8 |
-53.2 |
-33.0 |
-35.5 |
|
Interest Expense, Net Non-Operating |
-47.9 |
-52.8 |
-53.2 |
-33.0 |
-35.5 |
|
Interest Income -
Non-Operating |
13.8 |
12.8 |
10.4 |
26.5 |
38.2 |
|
Investment Income -
Non-Operating |
60.8 |
34.1 |
20.9 |
99.3 |
-14.0 |
|
Interest/Investment Income - Non-Operating |
74.5 |
46.8 |
31.3 |
125.8 |
24.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
26.7 |
-5.9 |
-21.9 |
92.8 |
-11.4 |
|
Gain (Loss) on Sale of Assets |
339.5 |
2.6 |
-29.1 |
-26.0 |
-30.3 |
|
Other Non-Operating Income (Expense) |
-23.0 |
-4.1 |
-15.9 |
-16.1 |
-19.7 |
|
Other, Net |
-23.0 |
-4.1 |
-15.9 |
-16.1 |
-19.7 |
|
Income Before Tax |
669.7 |
737.7 |
-4.8 |
-214.1 |
279.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
181.5 |
149.4 |
173.6 |
483.6 |
117.1 |
|
Income After Tax |
488.2 |
588.3 |
-178.3 |
-697.8 |
162.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.2 |
-1.0 |
1.4 |
1.8 |
-0.3 |
|
Net Income Before Extraord Items |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
Net Income |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
- |
- |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
- |
- |
- |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
780.4 |
779.5 |
779.1 |
760.4 |
718.2 |
|
Basic EPS Excl Extraord Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Basic/Primary EPS Incl Extraord Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
Diluted Weighted Average Shares |
780.4 |
779.5 |
779.1 |
760.4 |
718.3 |
|
Diluted EPS Excl Extraord Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Diluted EPS Incl Extraord Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Dividends per Share - Common Stock Primary Issue |
0.11 |
0.11 |
0.00 |
0.04 |
0.08 |
|
Gross Dividends - Common Stock |
89.0 |
82.0 |
0.0 |
34.9 |
56.6 |
|
Interest Expense, Supplemental |
47.9 |
52.8 |
53.2 |
33.0 |
35.5 |
|
Depreciation, Supplemental |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Total Special Items |
-124.1 |
220.5 |
234.5 |
223.1 |
89.4 |
|
Normalized Income Before Tax |
545.6 |
958.2 |
229.8 |
9.0 |
368.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-33.6 |
44.7 |
82.1 |
78.1 |
37.5 |
|
Inc Tax Ex Impact of Sp Items |
147.8 |
194.0 |
255.7 |
561.7 |
154.6 |
|
Normalized Income After Tax |
397.7 |
764.2 |
-25.9 |
-552.8 |
213.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
396.5 |
763.2 |
-24.5 |
-550.9 |
213.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.51 |
0.98 |
-0.03 |
-0.72 |
0.30 |
|
Diluted Normalized EPS |
0.51 |
0.98 |
-0.03 |
-0.72 |
0.30 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
- |
- |
0.0 |
|
Advertising Expense, Supplemental |
- |
437.5 |
442.0 |
455.4 |
454.1 |
|
Research & Development Exp, Supplemental |
- |
500.7 |
400.0 |
426.2 |
455.1 |
|
Reported Operating Profit |
556.7 |
981.8 |
294.3 |
-57.8 |
399.6 |
|
Reported Ordinary Profit |
472.1 |
959.5 |
240.6 |
-45.8 |
397.5 |
|
Normalized EBIT |
541.9 |
968.3 |
267.6 |
-67.7 |
399.6 |
|
Normalized EBITDA |
1,284.2 |
1,622.5 |
975.4 |
669.0 |
1,162.2 |
|
Current Tax - Total |
- |
- |
113.0 |
- |
- |
|
Current Tax - Total |
- |
- |
113.0 |
- |
- |
|
Deferred Tax - Total |
- |
- |
60.6 |
- |
- |
|
Deferred Tax - Total |
- |
- |
60.6 |
- |
- |
|
Income Tax - Total |
- |
- |
173.6 |
- |
- |
|
Interest Cost - Domestic |
- |
20.9 |
20.7 |
19.2 |
18.5 |
|
Service Cost - Domestic |
- |
71.5 |
68.4 |
52.4 |
76.2 |
|
Prior Service Cost - Domestic |
- |
0.6 |
0.4 |
0.3 |
-0.1 |
|
Expected Return on Assets - Domestic |
- |
-18.8 |
-15.5 |
-22.2 |
-25.0 |
|
Actuarial Gains and Losses - Domestic |
- |
22.7 |
21.3 |
9.4 |
4.6 |
|
Other Pension, Net - Domestic |
- |
-0.2 |
1.9 |
-8.4 |
0.0 |
|
Domestic Pension Plan Expense |
- |
96.7 |
97.1 |
50.8 |
74.2 |
|
Defined Contribution Expense - Domestic |
- |
28.9 |
23.5 |
24.0 |
- |
|
Total Pension Expense |
- |
125.5 |
120.6 |
74.8 |
74.2 |
|
Discount Rate - Domestic |
- |
1.40% |
1.40% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
- |
1.40% |
1.40% |
0.80% |
0.80% |
|
Total Plan Interest Cost |
- |
20.9 |
20.7 |
19.2 |
18.5 |
|
Total Plan Service Cost |
- |
71.5 |
68.4 |
52.4 |
76.2 |
|
Total Plan Expected Return |
- |
-18.8 |
-15.5 |
-22.2 |
-25.0 |
|
Total Plan Other Expense |
- |
-0.2 |
1.9 |
-8.4 |
0.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
79.208816 |
77.302742 |
77.752043 |
81.605269 |
82.241044 |
|
|
|
|
|
|
|
|
Net Sales |
6,157.1 |
4,843.1 |
4,561.0 |
3,681.0 |
4,935.9 |
|
Revenue |
6,157.1 |
4,843.1 |
4,561.0 |
3,681.0 |
4,935.9 |
|
Total Revenue |
6,157.1 |
4,843.1 |
4,561.0 |
3,681.0 |
4,935.9 |
|
|
|
|
|
|
|
|
Cost of Revenue |
4,995.7 |
3,921.8 |
3,698.2 |
2,892.0 |
3,943.9 |
|
Cost of Revenue, Total |
4,995.7 |
3,921.8 |
3,698.2 |
2,892.0 |
3,943.9 |
|
Gross Profit |
1,161.4 |
921.2 |
862.9 |
789.0 |
992.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
958.1 |
803.6 |
758.8 |
658.3 |
271.7 |
|
Labor & Related Expense |
- |
- |
- |
- |
299.0 |
|
Advertising Expense |
- |
- |
- |
- |
153.1 |
|
Total Selling/General/Administrative Expenses |
958.1 |
803.6 |
758.8 |
658.3 |
723.8 |
|
Research & Development |
- |
- |
- |
- |
137.5 |
|
Impairment-Assets Held for Use |
0.0 |
0.0 |
0.8 |
0.0 |
7.6 |
|
Impairment-Assets Held for Sale |
88.5 |
54.6 |
-51.4 |
-21.0 |
42.3 |
|
Other Unusual Expense (Income) |
45.7 |
2.0 |
26.8 |
68.3 |
194.8 |
|
Unusual Expense (Income) |
134.1 |
56.6 |
-23.8 |
47.3 |
244.6 |
|
Total Operating Expense |
6,087.9 |
4,782.0 |
4,433.2 |
3,597.6 |
5,049.9 |
|
|
|
|
|
|
|
|
Operating Income |
69.2 |
61.0 |
127.9 |
83.5 |
-114.0 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-11.4 |
-12.4 |
-13.0 |
-11.1 |
-11.1 |
|
Interest Expense, Net Non-Operating |
-11.4 |
-12.4 |
-13.0 |
-11.1 |
-11.1 |
|
Interest Income -
Non-Operating |
3.4 |
3.7 |
3.5 |
3.2 |
3.4 |
|
Investment Income -
Non-Operating |
18.1 |
43.2 |
-1.4 |
1.5 |
23.8 |
|
Interest/Investment Income - Non-Operating |
21.5 |
46.9 |
2.1 |
4.8 |
27.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
10.2 |
34.6 |
-10.9 |
-6.4 |
16.1 |
|
Gain (Loss) on Sale of Assets |
15.0 |
-2.6 |
-4.3 |
320.5 |
-1.3 |
|
Other Non-Operating Income (Expense) |
-20.7 |
-4.4 |
-10.8 |
-2.1 |
-11.1 |
|
Other, Net |
-20.7 |
-4.4 |
-10.8 |
-2.1 |
-11.1 |
|
Income Before Tax |
73.7 |
88.7 |
101.8 |
395.4 |
-110.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
51.6 |
36.8 |
46.2 |
46.6 |
-11.9 |
|
Income After Tax |
22.1 |
51.8 |
55.6 |
348.9 |
-98.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.7 |
0.0 |
-0.3 |
-0.2 |
0.0 |
|
Net Income Before Extraord Items |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
Net Income |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
780.5 |
780.5 |
780.4 |
780.3 |
780.0 |
|
Basic EPS Excl Extraord Items |
0.03 |
0.07 |
0.07 |
0.45 |
-0.13 |
|
Basic/Primary EPS Incl Extraord Items |
0.03 |
0.07 |
0.07 |
0.45 |
-0.13 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
Diluted Weighted Average Shares |
780.5 |
780.5 |
780.4 |
780.3 |
780.0 |
|
Diluted EPS Excl Extraord Items |
0.03 |
0.07 |
0.07 |
0.45 |
-0.13 |
|
Diluted EPS Incl Extraord Items |
0.03 |
0.07 |
0.07 |
0.45 |
-0.13 |
|
Dividends per Share - Common Stock Primary Issue |
0.06 |
0.00 |
0.06 |
0.00 |
0.05 |
|
Gross Dividends - Common Stock |
44.4 |
0.0 |
45.2 |
0.0 |
42.7 |
|
Interest Expense, Supplemental |
11.4 |
12.4 |
13.0 |
11.1 |
11.1 |
|
Depreciation, Supplemental |
202.8 |
190.7 |
191.7 |
158.2 |
174.9 |
|
Total Special Items |
119.1 |
59.2 |
-19.5 |
-273.2 |
245.9 |
|
Normalized Income Before Tax |
192.8 |
147.8 |
82.4 |
122.2 |
135.7 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
41.7 |
24.6 |
-8.8 |
-32.2 |
86.1 |
|
Inc Tax Ex Impact of Sp Items |
93.3 |
61.4 |
37.4 |
14.4 |
74.1 |
|
Normalized Income After Tax |
99.5 |
86.4 |
45.0 |
107.9 |
61.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
98.8 |
86.4 |
44.7 |
107.7 |
61.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.13 |
0.11 |
0.06 |
0.14 |
0.08 |
|
Diluted Normalized EPS |
0.13 |
0.11 |
0.06 |
0.14 |
0.08 |
|
Advertising Expense, Supplemental |
- |
- |
- |
- |
153.1 |
|
Research & Development Exp, Supplemental |
- |
- |
- |
- |
137.5 |
|
Reported Operating Profit |
203.3 |
117.6 |
104.1 |
130.7 |
130.6 |
|
Reported Ordinary Profit |
108.1 |
92.5 |
127.0 |
143.3 |
91.7 |
|
Normalized EBIT |
203.3 |
117.6 |
104.1 |
130.7 |
130.6 |
|
Normalized EBITDA |
406.1 |
308.3 |
295.7 |
288.9 |
305.6 |
|
|
|
|
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 |
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
2,884.2 |
2,554.3 |
1,804.8 |
791.2 |
673.7 |
|
Short Term Investments |
384.0 |
254.1 |
133.3 |
115.8 |
329.3 |
|
Cash and Short Term Investments |
3,268.2 |
2,808.4 |
1,938.2 |
907.1 |
1,002.9 |
|
Accounts Receivable -
Trade, Gross |
1,420.9 |
926.8 |
1,107.9 |
833.8 |
964.7 |
|
Provision for Doubtful
Accounts |
-16.9 |
-22.3 |
-18.0 |
-15.3 |
-13.5 |
|
Trade Accounts Receivable - Net |
1,404.0 |
904.4 |
1,089.8 |
818.5 |
951.1 |
|
Notes Receivable - Short Term |
956.3 |
723.8 |
811.0 |
601.7 |
786.9 |
|
Total Receivables, Net |
2,360.3 |
1,628.2 |
1,900.8 |
1,420.2 |
1,738.1 |
|
Inventories - Finished Goods |
1,477.0 |
879.2 |
1,084.7 |
1,302.5 |
1,338.0 |
|
Inventories - Work In Progress |
681.5 |
682.5 |
637.8 |
976.3 |
1,006.0 |
|
Inventories - Raw Materials |
409.2 |
446.1 |
381.8 |
346.8 |
278.3 |
|
Total Inventory |
2,567.7 |
2,007.9 |
2,104.2 |
2,625.5 |
2,622.3 |
|
Deferred Income Tax - Current Asset |
211.2 |
166.0 |
166.4 |
161.2 |
266.1 |
|
Other Current Assets |
848.3 |
753.5 |
727.8 |
819.3 |
628.0 |
|
Other Current Assets, Total |
1,059.4 |
919.4 |
894.2 |
980.4 |
894.1 |
|
Total Current Assets |
9,255.7 |
7,363.9 |
6,837.4 |
5,933.2 |
6,257.4 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
5,171.9 |
5,198.4 |
4,810.9 |
4,738.9 |
5,141.0 |
|
Goodwill, Net |
- |
- |
- |
36.7 |
185.9 |
|
Intangibles, Net |
143.4 |
145.3 |
128.4 |
104.8 |
130.3 |
|
LT Investment - Affiliate Companies |
- |
155.6 |
122.8 |
- |
- |
|
LT Investments - Other |
943.3 |
755.2 |
659.4 |
524.8 |
704.3 |
|
Long Term Investments |
943.3 |
910.8 |
782.2 |
524.8 |
704.3 |
|
Note Receivable - Long Term |
- |
- |
29.2 |
33.8 |
37.5 |
|
Deferred Income Tax - Long Term Asset |
22.7 |
21.9 |
61.5 |
108.4 |
273.8 |
|
Other Long Term Assets |
880.1 |
697.6 |
528.6 |
319.0 |
294.2 |
|
Other Long Term Assets, Total |
902.8 |
719.5 |
590.1 |
427.3 |
568.0 |
|
Total Assets |
16,417.1 |
14,337.9 |
13,178.2 |
11,799.4 |
13,024.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
3,047.2 |
2,134.4 |
2,322.9 |
1,498.6 |
2,308.5 |
|
Accrued Expenses |
1,042.8 |
931.4 |
766.2 |
654.7 |
778.2 |
|
Notes Payable/Short Term Debt |
862.3 |
1,195.4 |
1,521.0 |
2,522.5 |
1,513.3 |
|
Current Portion - Long Term Debt/Capital Leases |
531.6 |
493.6 |
375.1 |
223.2 |
515.0 |
|
Income Taxes Payable |
55.8 |
25.2 |
30.7 |
20.9 |
81.3 |
|
Other Current Liabilities |
1,277.4 |
1,020.0 |
924.4 |
763.4 |
812.0 |
|
Other Current liabilities, Total |
1,333.3 |
1,045.2 |
955.2 |
784.3 |
893.3 |
|
Total Current Liabilities |
6,817.2 |
5,800.0 |
5,940.3 |
5,683.3 |
6,008.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
2,745.0 |
2,300.2 |
2,050.2 |
1,119.6 |
1,031.4 |
|
Capital Lease Obligations |
- |
- |
7.7 |
2.9 |
- |
|
Total Long Term Debt |
2,745.0 |
2,300.2 |
2,057.9 |
1,122.5 |
1,031.4 |
|
Total Debt |
4,138.8 |
3,989.2 |
3,953.9 |
3,868.2 |
3,059.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
276.0 |
168.9 |
144.9 |
75.4 |
4.3 |
|
Deferred Income Tax |
276.0 |
168.9 |
144.9 |
75.4 |
4.3 |
|
Minority Interest |
15.8 |
15.7 |
14.0 |
7.8 |
10.3 |
|
Reserves |
- |
- |
0.0 |
7.5 |
7.5 |
|
Pension Benefits - Underfunded |
417.8 |
413.5 |
380.5 |
381.7 |
419.6 |
|
Other Long Term Liabilities |
679.6 |
660.5 |
567.5 |
532.7 |
585.9 |
|
Other Liabilities, Total |
1,097.4 |
1,074.0 |
948.0 |
921.9 |
1,013.0 |
|
Total Liabilities |
10,951.3 |
9,358.9 |
9,105.1 |
7,810.9 |
8,067.4 |
|
|
|
|
|
|
|
|
Common Stock |
1,866.8 |
1,855.6 |
1,645.9 |
1,557.1 |
1,545.1 |
|
Common Stock |
1,866.8 |
1,855.6 |
1,645.9 |
1,557.1 |
1,545.1 |
|
Additional Paid-In Capital |
1,943.0 |
1,931.4 |
1,713.1 |
1,620.6 |
1,608.5 |
|
Retained Earnings (Accumulated Deficit) |
2,288.5 |
1,893.7 |
1,179.1 |
1,281.7 |
2,288.5 |
|
Treasury Stock - Common |
-15.3 |
-16.7 |
-23.3 |
-21.1 |
-407.3 |
|
Unrealized Gain (Loss) |
230.2 |
139.6 |
110.3 |
30.4 |
137.8 |
|
Translation Adjustment |
-847.3 |
-824.6 |
-552.1 |
-480.2 |
-215.6 |
|
Other Equity, Total |
-847.3 |
-824.6 |
-552.1 |
-480.2 |
-215.6 |
|
Total Equity |
5,465.8 |
4,979.0 |
4,073.1 |
3,988.5 |
4,957.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
16,417.1 |
14,337.9 |
13,178.2 |
11,799.4 |
13,024.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
780.5 |
780.3 |
779.0 |
779.2 |
718.2 |
|
Total Common Shares Outstanding |
780.5 |
780.3 |
779.0 |
779.2 |
718.2 |
|
Treasury Shares - Common Stock Primary Issue |
2.4 |
2.6 |
3.9 |
3.7 |
64.7 |
|
Employees |
- |
27,296 |
27,586 |
27,659 |
26,404 |
|
Number of Common Shareholders |
- |
34,240 |
39,223 |
40,839 |
44,484 |
|
Total Long Term Debt, Supplemental |
- |
2,829.2 |
2,413.2 |
1,341.9 |
1,546.4 |
|
Long Term Debt Maturing within 1 Year |
- |
493.6 |
363.0 |
222.3 |
515.0 |
|
Long Term Debt Maturing in Year 2 |
- |
500.1 |
423.5 |
273.1 |
218.2 |
|
Long Term Debt Maturing in Year 3 |
- |
544.7 |
751.9 |
339.1 |
245.3 |
|
Long Term Debt Maturing in Year 4 |
- |
502.9 |
332.3 |
346.4 |
205.3 |
|
Long Term Debt Maturing in Year 5 |
- |
499.2 |
423.3 |
121.4 |
327.8 |
|
Long Term Debt Maturing in 2-3 Years |
- |
1,044.8 |
1,175.4 |
612.1 |
463.5 |
|
Long Term Debt Maturing in 4-5 Years |
- |
1,002.2 |
755.6 |
467.8 |
533.1 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
288.6 |
119.1 |
39.6 |
34.8 |
|
Total Capital Leases, Supplemental |
- |
22.4 |
19.7 |
3.8 |
- |
|
Capital Lease Payments Due in Year 1 |
- |
8.1 |
12.0 |
0.9 |
- |
|
Capital Lease Payments Due in Year 2 |
- |
7.0 |
3.6 |
0.8 |
- |
|
Capital Lease Payments Due in Year 3 |
- |
3.8 |
2.1 |
0.8 |
- |
|
Capital Lease Payments Due in Year 4 |
- |
2.4 |
1.2 |
0.5 |
- |
|
Capital Lease Payments Due in Year 5 |
- |
0.9 |
0.6 |
0.2 |
- |
|
Capital Lease Payments Due in 2-3 Years |
- |
10.8 |
5.7 |
1.6 |
- |
|
Capital Lease Payments Due in 4-5 Years |
- |
3.3 |
1.8 |
0.7 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
0.2 |
0.2 |
0.6 |
- |
|
Pension Obligation - Domestic |
- |
1,217.6 |
1,105.4 |
1,047.4 |
1,153.2 |
|
Plan Assets - Domestic |
- |
611.4 |
504.4 |
427.3 |
614.2 |
|
Funded Status - Domestic |
- |
-606.2 |
-601.0 |
-620.2 |
-539.0 |
|
Total Funded Status |
- |
-606.2 |
-601.0 |
-620.2 |
-539.0 |
|
Discount Rate - Domestic |
- |
1.40% |
1.40% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
- |
1.40% |
1.40% |
0.80% |
0.80% |
|
Prepaid Benefits - Domestic |
- |
69.8 |
0.6 |
0.6 |
0.7 |
|
Accrued Liabilities - Domestic |
- |
-406.7 |
-373.1 |
-374.6 |
-411.8 |
|
Other Assets, Net - Domestic |
- |
269.3 |
228.4 |
246.2 |
127.8 |
|
Net Assets Recognized on Balance Sheet |
- |
-67.7 |
-144.2 |
-127.9 |
-283.3 |
|
Total Plan Obligations |
- |
1,217.6 |
1,105.4 |
1,047.4 |
1,153.2 |
|
Total Plan Assets |
- |
611.4 |
504.4 |
427.3 |
614.2 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
76.94 |
77.08 |
80.76 |
82.88 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
2,884.2 |
2,240.8 |
2,129.8 |
2,465.0 |
2,554.3 |
|
Short Term Investments |
384.0 |
1,073.9 |
1,476.8 |
1,264.9 |
254.1 |
|
Cash and Short Term Investments |
3,268.2 |
3,314.7 |
3,606.7 |
3,729.9 |
2,808.4 |
|
Accounts Receivable -
Trade, Gross |
1,420.9 |
1,319.9 |
1,304.0 |
1,023.6 |
926.8 |
|
Provision for Doubtful
Accounts |
-16.9 |
-24.1 |
-25.1 |
-22.5 |
-22.3 |
|
Trade Accounts Receivable - Net |
1,404.0 |
1,295.8 |
1,278.9 |
1,001.1 |
904.4 |
|
Notes Receivable - Short Term |
956.3 |
916.4 |
931.2 |
734.7 |
723.8 |
|
Total Receivables, Net |
2,360.3 |
2,212.2 |
2,210.1 |
1,735.8 |
1,628.2 |
|
Inventories - Finished Goods |
1,477.0 |
1,599.8 |
1,102.8 |
1,020.9 |
879.2 |
|
Inventories - Work In Progress |
681.5 |
766.5 |
752.0 |
714.1 |
682.5 |
|
Inventories - Raw Materials |
409.2 |
494.2 |
486.1 |
410.0 |
446.1 |
|
Total Inventory |
2,567.7 |
2,860.4 |
2,340.9 |
2,144.9 |
2,007.9 |
|
Deferred Income Tax - Current Asset |
211.2 |
155.5 |
179.0 |
181.6 |
166.0 |
|
Other Current Assets |
848.3 |
921.3 |
851.8 |
722.0 |
753.5 |
|
Other Current Assets, Total |
1,059.4 |
1,076.8 |
1,030.8 |
903.6 |
919.4 |
|
Total Current Assets |
9,255.7 |
9,464.0 |
9,188.5 |
8,514.3 |
7,363.9 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
5,171.9 |
5,434.4 |
5,426.3 |
5,239.5 |
5,198.4 |
|
Intangibles, Net |
143.4 |
146.8 |
147.2 |
145.7 |
145.3 |
|
LT Investments - Other |
943.3 |
851.7 |
848.2 |
878.3 |
821.1 |
|
Long Term Investments |
943.3 |
851.7 |
848.2 |
878.3 |
821.1 |
|
Deferred Income Tax - Long Term Asset |
22.7 |
27.7 |
27.6 |
25.9 |
21.9 |
|
Other Long Term Assets |
880.1 |
796.3 |
798.6 |
794.7 |
787.4 |
|
Other Long Term Assets, Total |
902.8 |
824.0 |
826.1 |
820.5 |
809.2 |
|
Total Assets |
16,417.1 |
16,721.0 |
16,436.3 |
15,598.3 |
14,337.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
3,047.2 |
2,949.5 |
2,391.5 |
1,912.7 |
2,134.4 |
|
Accrued Expenses |
1,042.8 |
792.7 |
884.4 |
889.8 |
931.4 |
|
Notes Payable/Short Term Debt |
862.3 |
1,135.7 |
1,351.1 |
1,376.8 |
1,195.4 |
|
Current Portion - Long Term Debt/Capital Leases |
531.6 |
587.4 |
529.3 |
503.0 |
493.6 |
|
Income Taxes Payable |
55.8 |
68.5 |
70.0 |
54.3 |
25.2 |
|
Other Current Liabilities |
1,277.4 |
1,158.7 |
1,156.9 |
1,142.5 |
1,020.0 |
|
Other Current liabilities, Total |
1,333.3 |
1,227.2 |
1,226.9 |
1,196.9 |
1,045.2 |
|
Total Current Liabilities |
6,817.2 |
6,692.5 |
6,383.2 |
5,879.1 |
5,800.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
2,745.0 |
3,070.8 |
3,135.3 |
3,029.7 |
2,300.2 |
|
Total Long Term Debt |
2,745.0 |
3,070.8 |
3,135.3 |
3,029.7 |
2,300.2 |
|
Total Debt |
4,138.8 |
4,793.9 |
5,015.7 |
4,909.5 |
3,989.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
276.0 |
170.0 |
176.5 |
189.5 |
168.9 |
|
Deferred Income Tax |
276.0 |
170.0 |
176.5 |
189.5 |
168.9 |
|
Minority Interest |
15.8 |
17.4 |
17.4 |
16.3 |
15.7 |
|
Pension Benefits - Underfunded |
417.8 |
451.4 |
442.3 |
422.6 |
413.5 |
|
Other Long Term Liabilities |
679.6 |
680.4 |
664.2 |
641.3 |
660.5 |
|
Other Liabilities, Total |
1,097.4 |
1,131.8 |
1,106.5 |
1,063.8 |
1,074.0 |
|
Total Liabilities |
10,951.3 |
11,082.5 |
10,818.8 |
10,178.4 |
9,358.9 |
|
|
|
|
|
|
|
|
Common Stock |
1,866.8 |
1,998.9 |
1,995.3 |
1,904.3 |
1,855.6 |
|
Common Stock |
1,866.8 |
1,998.9 |
1,995.3 |
1,904.3 |
1,855.6 |
|
Additional Paid-In Capital |
1,943.0 |
2,080.5 |
2,076.7 |
1,982.1 |
1,931.4 |
|
Retained Earnings (Accumulated Deficit) |
2,288.5 |
2,426.7 |
2,416.0 |
2,252.7 |
1,893.7 |
|
Treasury Stock - Common |
-15.3 |
-16.4 |
-16.3 |
-17.1 |
-16.7 |
|
Unrealized Gain (Loss) |
230.2 |
159.0 |
138.2 |
164.6 |
139.6 |
|
Translation Adjustment |
-847.3 |
-1,010.3 |
-992.3 |
-866.8 |
-824.6 |
|
Other Equity, Total |
-847.3 |
-1,010.3 |
-992.3 |
-866.8 |
-824.6 |
|
Total Equity |
5,465.8 |
5,638.5 |
5,617.5 |
5,419.9 |
4,979.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
16,417.1 |
16,721.0 |
16,436.3 |
15,598.3 |
14,337.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
780.5 |
780.5 |
780.5 |
780.3 |
780.3 |
|
Total Common Shares Outstanding |
780.5 |
780.5 |
780.5 |
780.3 |
780.3 |
|
Treasury Shares - Common Stock Primary Issue |
2.4 |
2.4 |
2.4 |
2.6 |
2.6 |
|
Employees |
- |
- |
- |
- |
27,296 |
|
|
|
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
669.7 |
737.7 |
-4.8 |
-214.1 |
279.1 |
|
Depreciation |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Depreciation/Depletion |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Amortization of Acquisition Costs |
- |
- |
- |
- |
0.0 |
|
Amortization |
- |
- |
- |
- |
0.0 |
|
Unusual Items |
-277.5 |
17.5 |
232.1 |
106.1 |
76.8 |
|
Equity in Net Earnings (Loss) |
-10.3 |
-30.6 |
-11.5 |
-9.2 |
-4.4 |
|
Other Non-Cash Items |
9.8 |
142.6 |
28.5 |
139.4 |
-62.2 |
|
Non-Cash Items |
-278.1 |
129.6 |
249.1 |
236.3 |
10.2 |
|
Accounts Receivable |
-717.8 |
311.3 |
-327.7 |
149.9 |
4.0 |
|
Inventories |
-621.0 |
218.0 |
607.8 |
-186.3 |
-399.2 |
|
Other Assets |
-8.3 |
84.0 |
-37.0 |
-19.5 |
0.0 |
|
Accounts Payable |
939.7 |
-439.2 |
726.9 |
-728.1 |
386.7 |
|
Accrued Expenses |
1.9 |
11.4 |
12.6 |
-20.3 |
1.2 |
|
Other Liabilities |
53.9 |
-92.3 |
35.4 |
-47.3 |
-97.2 |
|
Other Operating Cash Flow |
-87.4 |
-1.8 |
-68.5 |
-12.8 |
-6.2 |
|
Changes in Working Capital |
-439.0 |
91.4 |
949.4 |
-864.3 |
-110.7 |
|
Cash from Operating Activities |
694.8 |
1,612.9 |
1,901.6 |
-105.3 |
941.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-621.3 |
-522.0 |
-571.2 |
-581.3 |
-1,045.3 |
|
Purchase/Acquisition of Intangibles |
-40.6 |
-35.9 |
-31.1 |
-27.0 |
-24.3 |
|
Capital Expenditures |
-661.9 |
-557.9 |
-602.3 |
-608.3 |
-1,069.6 |
|
Sale of Fixed Assets |
460.6 |
21.9 |
25.7 |
8.3 |
526.0 |
|
Sale/Maturity of Investment |
217.4 |
247.2 |
80.1 |
170.9 |
191.9 |
|
Purchase of Investments |
-273.2 |
-291.2 |
-170.0 |
-241.3 |
-198.9 |
|
Other Investing Cash Flow |
-79.9 |
-16.4 |
-7.6 |
-49.9 |
157.7 |
|
Other Investing Cash Flow Items, Total |
325.0 |
-38.5 |
-71.8 |
-112.0 |
676.6 |
|
Cash from Investing Activities |
-336.9 |
-596.4 |
-674.1 |
-720.4 |
-393.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
1.4 |
3.8 |
-0.5 |
0.0 |
0.0 |
|
Financing Cash Flow Items |
1.4 |
3.8 |
-0.5 |
0.0 |
0.0 |
|
Cash Dividends Paid - Common |
-89.0 |
-40.8 |
0.0 |
-67.1 |
-56.6 |
|
Total Cash Dividends Paid |
-89.0 |
-40.8 |
0.0 |
-67.1 |
-56.6 |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
310.2 |
0.2 |
|
Repurchase/Retirement
of Common |
- |
- |
-1.0 |
-0.5 |
-0.5 |
|
Common Stock, Net |
- |
- |
-1.0 |
309.7 |
-0.3 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
-1.0 |
309.7 |
-0.3 |
|
Short Term Debt, Net |
-355.0 |
-502.2 |
-1,139.7 |
691.8 |
-183.5 |
|
Long Term Debt Issued |
1,007.9 |
803.2 |
1,232.7 |
368.8 |
27.1 |
|
Long Term Debt
Reduction |
-532.6 |
-723.9 |
-291.3 |
-502.6 |
-181.4 |
|
Long Term Debt, Net |
475.3 |
79.3 |
941.4 |
-133.7 |
-154.3 |
|
Issuance (Retirement) of Debt, Net |
120.3 |
-422.9 |
-198.3 |
558.1 |
-337.8 |
|
Cash from Financing Activities |
32.8 |
-459.9 |
-199.7 |
800.6 |
-394.7 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.2 |
-133.7 |
-8.8 |
-155.4 |
-17.2 |
|
Net Change in Cash |
386.5 |
422.9 |
1,018.9 |
-180.5 |
136.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2,882.0 |
2,234.4 |
1,041.1 |
1,141.0 |
866.6 |
|
Net Cash - Ending Balance |
3,268.5 |
2,657.3 |
2,060.1 |
960.5 |
1,003.0 |
|
Cash Interest Paid |
46.5 |
53.6 |
56.0 |
30.5 |
36.2 |
|
Cash Taxes Paid |
141.8 |
117.5 |
65.0 |
147.1 |
100.4 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
12 Months |
9 Months |
6 Months |
3 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
78.871359 |
79.672811 |
81.605269 |
85.691434 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
669.7 |
596.4 |
504.4 |
395.4 |
737.7 |
|
Depreciation |
742.3 |
539.5 |
349.1 |
158.2 |
654.2 |
|
Depreciation/Depletion |
742.3 |
539.5 |
349.1 |
158.2 |
654.2 |
|
Unusual Items |
-277.5 |
-342.9 |
-394.9 |
-341.5 |
17.5 |
|
Equity in Net Earnings (Loss) |
-10.3 |
-14.6 |
-5.7 |
-5.6 |
-30.6 |
|
Other Non-Cash Items |
9.8 |
28.6 |
16.5 |
-12.6 |
142.6 |
|
Non-Cash Items |
-278.1 |
-328.9 |
-384.1 |
-359.6 |
129.6 |
|
Accounts Receivable |
-717.8 |
-448.7 |
-371.2 |
-79.9 |
311.3 |
|
Inventories |
-621.0 |
-772.1 |
-236.9 |
-107.2 |
218.0 |
|
Other Assets |
-8.3 |
51.4 |
53.6 |
26.7 |
84.0 |
|
Accounts Payable |
939.7 |
657.2 |
117.9 |
-261.9 |
-439.2 |
|
Accrued Expenses |
1.9 |
-103.5 |
-0.7 |
100.8 |
11.4 |
|
Other Liabilities |
53.9 |
25.3 |
-7.2 |
41.0 |
-92.3 |
|
Other Operating Cash Flow |
-87.4 |
-222.8 |
-140.9 |
-155.2 |
-1.8 |
|
Changes in Working Capital |
-439.0 |
-813.3 |
-585.4 |
-435.6 |
91.4 |
|
Cash from Operating Activities |
694.8 |
-6.2 |
-116.0 |
-241.6 |
1,612.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-621.3 |
-443.7 |
-259.0 |
-102.6 |
-522.0 |
|
Purchase/Acquisition of Intangibles |
-40.6 |
-26.9 |
-15.5 |
-8.7 |
-35.9 |
|
Capital Expenditures |
-661.9 |
-470.6 |
-274.5 |
-111.4 |
-557.9 |
|
Sale of Fixed Assets |
460.6 |
436.1 |
428.1 |
417.8 |
21.9 |
|
Sale/Maturity of Investment |
217.4 |
160.2 |
118.0 |
58.1 |
247.2 |
|
Purchase of Investments |
-273.2 |
-204.4 |
-150.8 |
-68.3 |
-291.2 |
|
Other Investing Cash Flow |
-79.9 |
32.1 |
54.2 |
40.9 |
-16.4 |
|
Other Investing Cash Flow Items, Total |
325.0 |
423.9 |
449.6 |
448.5 |
-38.5 |
|
Cash from Investing Activities |
-336.9 |
-46.7 |
175.1 |
337.2 |
-596.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
1.4 |
-5.9 |
-3.4 |
-2.4 |
3.8 |
|
Financing Cash Flow Items |
1.4 |
-5.9 |
-3.4 |
-2.4 |
3.8 |
|
Cash Dividends Paid - Common |
-89.0 |
-88.6 |
-44.1 |
-40.2 |
-40.8 |
|
Total Cash Dividends Paid |
-89.0 |
-88.6 |
-44.1 |
-40.2 |
-40.8 |
|
Short Term Debt, Net |
-355.0 |
-148.2 |
63.7 |
148.5 |
-502.2 |
|
Long Term Debt Issued |
1,007.9 |
1,002.7 |
966.7 |
927.3 |
803.2 |
|
Long Term Debt
Reduction |
-532.6 |
-370.7 |
-328.2 |
-268.9 |
-723.9 |
|
Long Term Debt, Net |
475.3 |
632.0 |
638.5 |
658.3 |
79.3 |
|
Issuance (Retirement) of Debt, Net |
120.3 |
483.8 |
702.2 |
806.8 |
-422.9 |
|
Cash from Financing Activities |
32.8 |
389.3 |
654.7 |
764.3 |
-459.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.2 |
-79.2 |
-66.5 |
-10.2 |
-133.7 |
|
Net Change in Cash |
386.5 |
257.2 |
647.2 |
849.5 |
422.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2,882.0 |
2,887.4 |
2,858.4 |
2,790.7 |
2,234.4 |
|
Net Cash - Ending Balance |
3,268.5 |
3,144.7 |
3,505.6 |
3,640.2 |
2,657.3 |
|
Cash Interest Paid |
46.5 |
34.9 |
23.2 |
9.9 |
53.6 |
|
Cash Taxes Paid |
141.8 |
101.8 |
83.6 |
37.9 |
117.5 |
|
|
|
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
Total Revenue |
19,213.3 |
18,444.8 |
15,372.0 |
14,388.2 |
13,756.0 |
|
|
|
|
|
|
|
|
Cost of Sales |
15,481.3 |
14,487.2 |
12,403.2 |
11,589.5 |
10,653.0 |
|
Sell./Gen./Admin. |
3,175.3 |
- |
- |
- |
- |
|
Salary/Bonus |
- |
497.4 |
481.2 |
465.7 |
414.8 |
|
Advertisement |
- |
437.5 |
442.0 |
455.4 |
454.1 |
|
Sales incentive expenses |
- |
412.5 |
355.0 |
424.5 |
416.2 |
|
Allowance Bonus |
- |
68.5 |
58.5 |
53.6 |
54.9 |
|
Research&Development |
- |
499.2 |
398.5 |
422.1 |
446.7 |
|
Other SGA |
- |
1,060.7 |
939.3 |
1,035.0 |
916.7 |
|
SP Reverse-Doubt.Acct |
0.0 |
-4.8 |
-3.0 |
-1.1 |
- |
|
SP G on prior period adjustments |
- |
- |
- |
0.0 |
-13.5 |
|
SP G on pension accounting change |
- |
- |
0.0 |
-8.4 |
0.0 |
|
SP G. pension fund refund |
- |
- |
- |
- |
0.0 |
|
SP Other Special Gain |
-44.1 |
-0.1 |
-0.6 |
-10.4 |
-0.7 |
|
SP Impairment Loss |
0.8 |
17.0 |
192.7 |
10.4 |
115.3 |
|
SP Loss on disaster |
91.9 |
85.8 |
0.0 |
- |
- |
|
SP Loss Val. Invest Sec |
5.1 |
4.8 |
5.6 |
10.7 |
0.2 |
|
SP Loss on prior periods adjustment |
0.0 |
71.3 |
0.0 |
- |
- |
|
SP Spec. prov. for doubtful acts |
- |
- |
0.0 |
26.3 |
0.0 |
|
SP Reserve for construction losses |
- |
- |
0.0 |
28.9 |
0.0 |
|
SP Reserve debt guarantee |
- |
- |
- |
- |
0.0 |
|
SP Loss on abandonment of inventories |
- |
0.0 |
12.8 |
0.0 |
- |
|
SP Prov. for loss on transfer of busine |
52.9 |
0.0 |
- |
- |
- |
|
SP L adjust for changes of acct. assets |
0.0 |
4.3 |
0.0 |
- |
- |
|
SP L reconstruction of office building |
0.0 |
7.7 |
0.0 |
- |
- |
|
SP Other Special Loss |
44.0 |
43.8 |
9.0 |
88.1 |
- |
|
NOP G. Derivative Valuation |
0.0 |
-6.7 |
-0.1 |
0.0 |
-43.1 |
|
NOP Amort. of Negative Goodwill |
- |
- |
- |
- |
0.0 |
|
NOP Loss Valuation Derivative |
64.8 |
0.0 |
1.9 |
52.7 |
1.0 |
|
NOP Dep. exp. |
14.8 |
13.6 |
13.9 |
10.0 |
- |
|
Total Operating Expense |
18,886.8 |
17,699.6 |
15,309.8 |
14,653.0 |
13,415.5 |
|
|
|
|
|
|
|
|
NOP Interest Income |
13.8 |
12.8 |
10.4 |
26.5 |
38.2 |
|
NOP Dividend Income |
12.7 |
9.9 |
8.1 |
10.7 |
10.0 |
|
NOP Rental Income |
6.7 |
6.5 |
6.2 |
5.8 |
8.0 |
|
NOP Equity Gain |
10.3 |
30.6 |
11.5 |
9.2 |
4.4 |
|
NOP Exchange Gain |
29.0 |
0.0 |
1.1 |
77.3 |
0.0 |
|
NOP Other Income |
14.6 |
19.7 |
11.6 |
17.7 |
27.9 |
|
NOP Interest Expense |
-47.9 |
-52.8 |
-53.2 |
-33.0 |
-35.5 |
|
NOP Foreign exchange losses |
0.0 |
-11.8 |
0.0 |
0.0 |
-41.5 |
|
NOP Other Expense |
-44.3 |
-30.3 |
-33.7 |
-39.7 |
-55.6 |
|
SP Gain on Asset Sale |
362.9 |
10.3 |
3.8 |
3.6 |
12.9 |
|
SP Gain Sale Invest Sec |
11.3 |
7.6 |
2.2 |
6.7 |
13.1 |
|
SP G on transfer of acct. receive. |
0.0 |
10.3 |
3.2 |
8.3 |
4.8 |
|
SP Loss on Asset Sale/Retire. |
-23.4 |
-18.1 |
-36.1 |
-37.9 |
-48.0 |
|
SP Loss Sale Inv. Secs. |
-2.6 |
-2.2 |
-2.0 |
-4.7 |
0.0 |
|
SP Liquidate Affiliate |
- |
- |
- |
- |
0.0 |
|
Net Income Before Taxes |
669.7 |
737.7 |
-4.8 |
-214.1 |
279.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
181.5 |
149.4 |
173.6 |
483.6 |
117.1 |
|
Net Income After Taxes |
488.2 |
588.3 |
-178.3 |
-697.8 |
162.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.2 |
-1.0 |
1.4 |
1.8 |
-0.3 |
|
Net Income Before Extra. Items |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
Net Income |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Director's Retire |
- |
- |
- |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
780.4 |
779.5 |
779.1 |
760.4 |
718.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Basic EPS Including ExtraOrdinary Item |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
487.0 |
587.3 |
-177.0 |
-696.0 |
161.7 |
|
Diluted Weighted Average Shares |
780.4 |
779.5 |
779.1 |
760.4 |
718.3 |
|
Diluted EPS Excluding ExtraOrd Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
Diluted EPS Including ExtraOrd Items |
0.62 |
0.75 |
-0.23 |
-0.92 |
0.23 |
|
DPS-Common Stock |
0.11 |
0.11 |
0.00 |
0.04 |
0.08 |
|
Gross Dividends - Common Stock |
89.0 |
82.0 |
0.0 |
34.9 |
56.6 |
|
Normalized Income Before Taxes |
545.6 |
958.2 |
229.8 |
9.0 |
368.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
147.8 |
194.0 |
255.7 |
561.7 |
154.6 |
|
Normalized Income After Taxes |
397.7 |
764.2 |
-25.9 |
-552.8 |
213.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
396.5 |
763.2 |
-24.5 |
-550.9 |
213.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.51 |
0.98 |
-0.03 |
-0.72 |
0.30 |
|
Diluted Normalized EPS |
0.51 |
0.98 |
-0.03 |
-0.72 |
0.30 |
|
Advertisement |
- |
437.5 |
442.0 |
455.4 |
454.1 |
|
Research&Development (SGA) |
- |
499.2 |
398.5 |
422.1 |
446.7 |
|
Research&Development (COGS) |
- |
1.5 |
1.4 |
4.1 |
8.4 |
|
Interest Expense |
47.9 |
52.8 |
53.2 |
33.0 |
35.5 |
|
Amort of Negative Goodwill |
- |
- |
- |
- |
0.0 |
|
Depreciation |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Income taxes-current |
- |
- |
113.0 |
- |
- |
|
Current Tax - Total |
- |
- |
113.0 |
- |
- |
|
Income taxes-deferred |
- |
- |
60.6 |
- |
- |
|
Deferred Tax - Total |
- |
- |
60.6 |
- |
- |
|
Income Tax - Total |
- |
- |
173.6 |
- |
- |
|
Reported operating profit |
556.7 |
981.8 |
294.3 |
-57.8 |
399.6 |
|
Reported ordinary profit |
472.1 |
959.5 |
240.6 |
-45.8 |
397.5 |
|
Service cost |
- |
71.5 |
68.4 |
52.4 |
76.2 |
|
Interest cost |
- |
20.9 |
20.7 |
19.2 |
18.5 |
|
Expected return on plan asset |
- |
-18.8 |
-15.5 |
-22.2 |
-25.0 |
|
Actuarial G/L |
- |
22.7 |
21.3 |
9.4 |
4.6 |
|
Prior service cost |
- |
0.6 |
0.4 |
0.3 |
-0.1 |
|
Return of Pension Plan |
- |
-2.8 |
0.0 |
-8.4 |
0.0 |
|
Nonrecurr. add. retire. benefits |
- |
2.6 |
1.9 |
- |
- |
|
Domestic Pension Plan Expense |
- |
96.7 |
97.1 |
50.8 |
74.2 |
|
Defined Contribution Expense |
- |
28.9 |
23.5 |
24.0 |
- |
|
Total Pension Expense |
- |
125.5 |
120.6 |
74.8 |
74.2 |
|
Discount rate |
- |
1.40% |
1.40% |
2.00% |
2.00% |
|
Expected rate of return |
- |
1.40% |
1.40% |
0.80% |
0.80% |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
79.208816 |
77.302742 |
77.752043 |
81.605269 |
82.241044 |
|
|
|
|
|
|
|
|
Net sales |
6,157.1 |
4,843.1 |
4,561.0 |
3,681.0 |
4,935.9 |
|
Total Revenue |
6,157.1 |
4,843.1 |
4,561.0 |
3,681.0 |
4,935.9 |
|
|
|
|
|
|
|
|
Cost of Sales |
4,995.7 |
3,921.8 |
3,698.2 |
2,892.0 |
3,943.9 |
|
Total SGA |
958.1 |
803.6 |
758.8 |
658.3 |
- |
|
Salary/bonus |
- |
- |
- |
- |
171.3 |
|
Advertisement |
- |
- |
- |
- |
153.1 |
|
Sales incentive |
- |
- |
- |
- |
127.7 |
|
Research&Development |
- |
- |
- |
- |
137.5 |
|
Other SGA |
- |
- |
- |
- |
271.7 |
|
SP Rev.-Doubt.Acct |
0.0 |
0.0 |
0.0 |
0.0 |
-1.0 |
|
SP Other Special Gain |
-41.9 |
- |
- |
-1.9 |
- |
|
SP Impairment Loss |
0.0 |
0.0 |
0.8 |
0.0 |
7.6 |
|
SP Loss on Val. Investment Secs. |
5.1 |
0.0 |
- |
- |
- |
|
SP L on abandonment of inventories |
- |
- |
- |
- |
0.0 |
|
SP L on prior period adjustments |
- |
- |
- |
- |
57.9 |
|
SP Reconstruction loss |
- |
- |
- |
- |
0.0 |
|
SP Loss on disaster |
0.0 |
0.0 |
20.0 |
69.9 |
- |
|
SP L on adj for changes/accounting asset |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP Other Special Loss |
87.6 |
2.0 |
6.8 |
0.3 |
137.9 |
|
NOP G. Valuation Derivative |
- |
- |
-51.4 |
-21.0 |
42.3 |
|
NOP L/Val. Derivative |
83.4 |
54.6 |
- |
- |
- |
|
Total Operating Expense |
6,087.9 |
4,782.0 |
4,433.2 |
3,597.6 |
5,049.9 |
|
|
|
|
|
|
|
|
NOP Interest Income |
3.4 |
3.7 |
3.5 |
3.2 |
3.4 |
|
NOP Dividned Income |
5.0 |
2.9 |
1.0 |
3.8 |
3.6 |
|
NOP Equity Method |
- |
9.0 |
- |
5.6 |
0.6 |
|
NOP Rental Income |
1.8 |
1.6 |
1.7 |
1.6 |
1.8 |
|
NOP Foreign Exchange Gains |
16.0 |
30.6 |
-9.0 |
- |
17.9 |
|
NOP Other Income |
- |
3.5 |
5.8 |
9.3 |
3.1 |
|
NOP Interest Expense |
-11.4 |
-12.4 |
-13.0 |
-11.1 |
-11.1 |
|
NOP Exchange Loss |
- |
- |
- |
-7.8 |
- |
|
NOP Equity Loss |
-4.2 |
- |
0.0 |
- |
- |
|
NOP Other Expense |
-22.5 |
-9.4 |
-18.3 |
-13.0 |
-16.0 |
|
SP Gain on Fixed Asset Sale |
27.6 |
0.2 |
1.7 |
322.6 |
4.3 |
|
SP Gain Sale Inv.Secs |
1.3 |
0.8 |
6.8 |
0.0 |
1.8 |
|
SP G on transfer of acct. receive. |
0.0 |
0.0 |
0.0 |
0.0 |
3.1 |
|
SP Loss on Fixed Asset Sale & Retir. |
-12.5 |
-2.8 |
-6.0 |
-2.1 |
-8.6 |
|
Net Income Before Taxes |
73.7 |
88.7 |
101.8 |
395.4 |
-110.2 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
51.6 |
36.8 |
46.2 |
46.6 |
-11.9 |
|
Net Income After Taxes |
22.1 |
51.8 |
55.6 |
348.9 |
-98.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.7 |
0.0 |
-0.3 |
-0.2 |
0.0 |
|
Net Income Before Extra. Items |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
Net Income |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
780.5 |
780.5 |
780.4 |
780.3 |
780.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.03 |
0.07 |
0.07 |
0.45 |
-0.13 |
|
Basic EPS Including ExtraOrdinary Item |
0.03 |
0.07 |
0.07 |
0.45 |
-0.13 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
21.4 |
51.8 |
55.3 |
348.7 |
-98.3 |
|
Diluted Weighted Average Shares |
780.5 |
780.5 |
780.4 |
780.3 |
780.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.03 |
0.07 |
0.07 |
0.45 |
-0.13 |
|
Diluted EPS Including ExtraOrd Items |
0.03 |
0.07 |
0.07 |
0.45 |
-0.13 |
|
DPS-Common Stock |
0.06 |
0.00 |
0.06 |
0.00 |
0.05 |
|
Gross Dividends - Common Stock |
44.4 |
0.0 |
45.2 |
0.0 |
42.7 |
|
Normalized Income Before Taxes |
192.8 |
147.8 |
82.4 |
122.2 |
135.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
93.3 |
61.4 |
37.4 |
14.4 |
74.1 |
|
Normalized Income After Taxes |
99.5 |
86.4 |
45.0 |
107.9 |
61.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
98.8 |
86.4 |
44.7 |
107.7 |
61.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.13 |
0.11 |
0.06 |
0.14 |
0.08 |
|
Diluted Normalized EPS |
0.13 |
0.11 |
0.06 |
0.14 |
0.08 |
|
Advertisement |
- |
- |
- |
- |
153.1 |
|
Research&development(SGA) |
- |
- |
- |
- |
137.5 |
|
Interest Expense |
11.4 |
12.4 |
13.0 |
11.1 |
11.1 |
|
Depreciation |
202.8 |
190.7 |
191.7 |
158.2 |
174.9 |
|
Reported operating profit |
203.3 |
117.6 |
104.1 |
130.7 |
130.6 |
|
Reported ordinary profit |
108.1 |
92.5 |
127.0 |
143.3 |
91.7 |
|
|
|
|
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 |
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash/Equivalents |
2,884.2 |
2,554.3 |
1,804.8 |
791.2 |
673.7 |
|
Note&Accr. Rcvbl. |
1,420.9 |
926.8 |
1,107.9 |
833.8 |
964.7 |
|
Lease investment |
265.4 |
278.1 |
297.4 |
274.1 |
0.0 |
|
Marketable Secs. |
384.0 |
254.1 |
133.3 |
115.8 |
329.3 |
|
Inventories - merchandise&finished goods |
1,477.0 |
879.2 |
1,084.7 |
1,302.5 |
1,338.0 |
|
Inventories - work-in-process |
681.5 |
682.5 |
637.8 |
976.3 |
1,006.0 |
|
Inventories - raw materials&supplies |
409.2 |
446.1 |
381.8 |
346.8 |
278.3 |
|
Deferred Taxes |
211.2 |
166.0 |
166.4 |
161.2 |
266.1 |
|
ST Loans Rcvbl. |
956.3 |
723.8 |
811.0 |
601.7 |
786.9 |
|
Other Assets |
582.9 |
475.3 |
430.4 |
545.2 |
628.0 |
|
Allw-Doubt.Acct |
-16.9 |
-22.3 |
-18.0 |
-15.3 |
-13.5 |
|
Total Current Assets |
9,255.7 |
7,363.9 |
6,837.4 |
5,933.2 |
6,257.4 |
|
|
|
|
|
|
|
|
Buildings & Structures, Net |
1,376.0 |
1,427.0 |
1,338.7 |
1,249.4 |
1,249.2 |
|
Machineries, Equipment, & Vehicles, Net |
1,204.4 |
980.5 |
935.5 |
1,094.2 |
1,144.1 |
|
Land |
2,086.8 |
2,144.0 |
1,921.1 |
1,860.3 |
1,828.2 |
|
Lease asset |
- |
- |
0.0 |
3.5 |
481.3 |
|
Vehicles and equipment on oper. lease |
150.0 |
141.8 |
196.9 |
206.8 |
- |
|
Constr. in Prog. |
145.9 |
258.1 |
135.6 |
124.4 |
102.1 |
|
Other PPE,Net |
208.8 |
247.0 |
283.1 |
200.3 |
336.1 |
|
Goodwill |
- |
- |
- |
36.7 |
185.9 |
|
Other Intangible |
143.4 |
145.3 |
128.4 |
104.8 |
130.3 |
|
LT Inv. Securities |
943.3 |
755.2 |
659.4 |
524.8 |
704.3 |
|
Equity secs.-nonconsol affil.&sub. |
- |
65.8 |
66.0 |
- |
- |
|
Inv't partnership-nonconsol.affil.&subs. |
- |
89.7 |
56.8 |
- |
- |
|
LT Loans Rcvbl. |
- |
- |
29.2 |
33.8 |
37.5 |
|
Deferred Taxes |
22.7 |
21.9 |
61.5 |
108.4 |
273.8 |
|
Other |
923.6 |
746.0 |
584.0 |
378.9 |
325.2 |
|
Allowance for investment loss |
- |
0.0 |
-0.3 |
0.0 |
- |
|
Doubtful Accts. |
-43.5 |
-48.4 |
-55.1 |
-60.0 |
-31.0 |
|
Total Assets |
16,417.1 |
14,337.9 |
13,178.2 |
11,799.4 |
13,024.4 |
|
|
|
|
|
|
|
|
Note&Acct. Pay |
3,047.2 |
2,134.4 |
2,322.9 |
1,498.6 |
2,308.5 |
|
ST Borrowings |
862.3 |
1,195.4 |
1,521.0 |
2,279.5 |
1,453.0 |
|
Commercial Paper |
- |
- |
0.0 |
243.0 |
60.3 |
|
LT borrowings (current) |
288.7 |
252.2 |
148.9 |
222.3 |
213.6 |
|
Cur.Port. Bonds |
242.9 |
241.4 |
214.1 |
0.0 |
301.4 |
|
Cur.Port. Capital Lease |
- |
- |
12.0 |
0.9 |
- |
|
Income Tax Payable |
55.8 |
25.2 |
30.7 |
20.9 |
81.3 |
|
Accrued Expenses |
842.8 |
734.5 |
601.9 |
511.5 |
622.4 |
|
Accrued Bonus |
200.0 |
196.9 |
164.3 |
143.2 |
155.8 |
|
Warranty Reserve |
350.3 |
327.8 |
214.0 |
181.6 |
226.7 |
|
Provision for loss on transfer of busine |
50.7 |
0.0 |
- |
- |
- |
|
Reserve for construction losses |
34.5 |
56.5 |
15.0 |
7.7 |
0.0 |
|
Other |
841.9 |
635.7 |
695.4 |
574.1 |
585.3 |
|
Total Current Liabilities |
6,817.2 |
5,800.0 |
5,940.3 |
5,683.3 |
6,008.4 |
|
|
|
|
|
|
|
|
Capital Lease Liab. |
- |
- |
7.7 |
2.9 |
- |
|
Bonds |
49.4 |
290.5 |
471.9 |
607.5 |
602.8 |
|
Long Term Debt |
2,695.6 |
2,009.7 |
1,578.3 |
512.1 |
428.6 |
|
Total Long Term Debt |
2,745.0 |
2,300.2 |
2,057.9 |
1,122.5 |
1,031.4 |
|
|
|
|
|
|
|
|
Deferred Taxes on land reval. |
- |
- |
- |
- |
0.0 |
|
Deferred tax liabilities (non-current) |
276.0 |
168.9 |
144.9 |
75.4 |
4.3 |
|
Rsrv-Accr.Retire |
412.1 |
406.7 |
373.1 |
374.6 |
411.8 |
|
Allw-Dir.'s Ret |
5.7 |
6.8 |
7.3 |
7.1 |
7.8 |
|
Reserve debt guarantee |
- |
- |
0.0 |
7.5 |
7.5 |
|
Negative goodwill |
- |
- |
- |
- |
0.0 |
|
Other Liabilities |
679.6 |
660.5 |
567.5 |
532.7 |
585.9 |
|
Minority Int. |
15.8 |
15.7 |
14.0 |
7.8 |
10.3 |
|
Total Liabilities |
10,951.3 |
9,358.9 |
9,105.1 |
7,810.9 |
8,067.4 |
|
|
|
|
|
|
|
|
Common Stock |
1,866.8 |
1,855.6 |
1,645.9 |
1,557.1 |
1,545.1 |
|
Paid in Capital |
1,943.0 |
1,931.4 |
1,713.1 |
1,620.6 |
1,608.5 |
|
Retained Earning |
2,288.5 |
1,893.7 |
1,179.1 |
1,281.7 |
2,288.5 |
|
Treasury Stock |
-15.3 |
-16.7 |
-23.3 |
-21.1 |
-407.3 |
|
Unrealized Gains |
230.2 |
139.6 |
110.3 |
30.4 |
137.8 |
|
Reval. Excess |
- |
- |
- |
- |
0.0 |
|
Trans. Adjust. |
-847.3 |
-824.6 |
-552.1 |
-480.2 |
-215.6 |
|
Total Equity |
5,465.8 |
4,979.0 |
4,073.1 |
3,988.5 |
4,957.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
16,417.1 |
14,337.9 |
13,178.2 |
11,799.4 |
13,024.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
780.5 |
780.3 |
779.0 |
779.2 |
718.2 |
|
Total Common Shares Outstanding |
780.5 |
780.3 |
779.0 |
779.2 |
718.2 |
|
T/S-Common Stock |
2.4 |
2.6 |
3.9 |
3.7 |
64.7 |
|
Full-Time Employees |
- |
27,296 |
27,586 |
27,659 |
26,404 |
|
Number of Common Shareholders |
- |
34,240 |
39,223 |
40,839 |
44,484 |
|
Long Term Debt Maturing within 1 Yr |
- |
493.6 |
363.0 |
222.3 |
515.0 |
|
Long Term Debt Maturing within 2 Yr |
- |
500.1 |
423.5 |
273.1 |
218.2 |
|
Long Term Debt Maturing within 3 Yr |
- |
544.7 |
751.9 |
339.1 |
245.3 |
|
Long Term Debt Maturing within 4 Yr |
- |
502.9 |
332.3 |
346.4 |
205.3 |
|
Long Term Debt Maturing within 5 Yr |
- |
499.2 |
423.3 |
121.4 |
327.8 |
|
Long Term Debt Remaining Maturity |
- |
288.6 |
119.1 |
39.6 |
34.8 |
|
Total Long Term Debt, Supplemental |
- |
2,829.2 |
2,413.2 |
1,341.9 |
1,546.4 |
|
Capital Lease Within 1 Year |
- |
8.1 |
12.0 |
0.9 |
- |
|
Capital Lease Within 2 Years |
- |
7.0 |
3.6 |
0.8 |
- |
|
Capital Lease Within 3 Years |
- |
3.8 |
2.1 |
0.8 |
- |
|
Capital Lease Within 4 Years |
- |
2.4 |
1.2 |
0.5 |
- |
|
Capital Lease Within 5 Years |
- |
0.9 |
0.6 |
0.2 |
- |
|
Capital Lease remaining |
- |
0.2 |
0.2 |
0.6 |
- |
|
Total Capital Leases |
- |
22.4 |
19.7 |
3.8 |
- |
|
Pension obligation |
- |
1,217.6 |
1,105.4 |
1,047.4 |
1,153.2 |
|
Fair value of plan asset |
- |
611.4 |
504.4 |
427.3 |
614.2 |
|
Funded status |
- |
-606.2 |
-601.0 |
-620.2 |
-539.0 |
|
Total Funded Status |
- |
-606.2 |
-601.0 |
-620.2 |
-539.0 |
|
Discont rate |
- |
1.40% |
1.40% |
2.00% |
2.00% |
|
Expected return rate |
- |
1.40% |
1.40% |
0.80% |
0.80% |
|
Unrecog. actuarial G/L |
- |
265.1 |
225.5 |
241.2 |
132.6 |
|
Unrecog. prior service cost |
- |
4.2 |
2.9 |
5.0 |
-4.8 |
|
Prepaid pension benefit |
- |
69.8 |
0.6 |
0.6 |
0.7 |
|
Reserve for accrued pension benefit |
- |
-406.7 |
-373.1 |
-374.6 |
-411.8 |
|
Net Assets Recognized on Balance Sheet |
- |
-67.7 |
-144.2 |
-127.9 |
-283.3 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
76.94 |
77.08 |
80.76 |
82.88 |
|
|
|
|
|
|
|
|
Cash/Equivalents |
2,884.2 |
2,240.8 |
2,129.8 |
2,465.0 |
2,554.3 |
|
Note&Accr. Rcvbl. |
1,420.9 |
1,319.9 |
1,304.0 |
1,023.6 |
926.8 |
|
Lease investment |
265.4 |
280.5 |
284.4 |
274.1 |
278.1 |
|
Marketable Secs |
384.0 |
1,073.9 |
1,476.8 |
1,264.9 |
254.1 |
|
Invent.-merchandise & finished goods |
1,477.0 |
1,599.8 |
1,102.8 |
1,020.9 |
879.2 |
|
Inventories - work-in-process |
681.5 |
766.5 |
752.0 |
714.1 |
682.5 |
|
Inventories - raw materials & supplies |
409.2 |
494.2 |
486.1 |
410.0 |
446.1 |
|
Deferred tax assets |
211.2 |
155.5 |
179.0 |
181.6 |
166.0 |
|
ST Loans Rcvbl. |
956.3 |
916.4 |
931.2 |
734.7 |
723.8 |
|
Other |
582.9 |
640.8 |
567.4 |
447.9 |
475.3 |
|
Allowance for doubtful accounts |
-16.9 |
-24.1 |
-25.1 |
-22.5 |
-22.3 |
|
Total Current Assets |
9,255.7 |
9,464.0 |
9,188.5 |
8,514.3 |
7,363.9 |
|
|
|
|
|
|
|
|
Buildings & Structures, Net |
1,376.0 |
1,476.0 |
1,481.9 |
1,431.7 |
1,427.0 |
|
Machineries, Equipment, & Vehicles, Net |
1,204.4 |
1,238.9 |
1,181.0 |
1,057.9 |
980.5 |
|
Land |
2,086.8 |
2,225.1 |
2,221.4 |
2,118.1 |
2,144.0 |
|
Vehicles and equipment on oper. lease |
150.0 |
99.8 |
97.8 |
117.1 |
141.8 |
|
Constr. in Prog. |
145.9 |
159.5 |
199.7 |
262.8 |
258.1 |
|
Other, Net |
208.8 |
235.1 |
244.4 |
251.9 |
247.0 |
|
Other Intangible |
143.4 |
146.8 |
147.2 |
145.7 |
145.3 |
|
LT Inv. Securities |
943.3 |
851.7 |
848.2 |
878.3 |
821.1 |
|
Deferred tax assets |
22.7 |
27.7 |
27.6 |
25.9 |
21.9 |
|
Other Assets |
923.6 |
847.9 |
850.1 |
844.5 |
835.8 |
|
Allowance for investment loss |
- |
- |
- |
- |
0.0 |
|
Allowance for doubtful accounts |
-43.5 |
-51.6 |
-51.5 |
-49.9 |
-48.4 |
|
Total Assets |
16,417.1 |
16,721.0 |
16,436.3 |
15,598.3 |
14,337.9 |
|
|
|
|
|
|
|
|
Note & Accounts Payable |
3,047.2 |
2,949.5 |
2,391.5 |
1,912.7 |
2,134.4 |
|
ST Borrowings |
862.3 |
1,135.7 |
1,351.1 |
1,376.8 |
1,195.4 |
|
LT borrowings (current) |
288.7 |
327.3 |
269.7 |
255.2 |
252.2 |
|
Current portion of bonds |
242.9 |
260.1 |
259.6 |
247.8 |
241.4 |
|
Income Tax Pay |
55.8 |
68.5 |
70.0 |
54.3 |
25.2 |
|
Accrued Expenses |
842.8 |
686.6 |
673.3 |
585.7 |
734.5 |
|
Res. for Bonus |
200.0 |
106.1 |
211.1 |
304.0 |
196.9 |
|
Warranty Reserve |
350.3 |
344.1 |
345.9 |
329.4 |
327.8 |
|
Reserve for construction losses |
34.5 |
58.1 |
65.9 |
50.8 |
56.5 |
|
Other |
892.6 |
756.5 |
745.1 |
762.3 |
635.7 |
|
Total Current Liabilities |
6,817.2 |
6,692.5 |
6,383.2 |
5,879.1 |
5,800.0 |
|
|
|
|
|
|
|
|
Bonds |
49.4 |
53.0 |
52.9 |
50.5 |
290.5 |
|
Long Term Debt |
2,695.6 |
3,017.8 |
3,082.4 |
2,979.2 |
2,009.7 |
|
Total Long Term Debt |
2,745.0 |
3,070.8 |
3,135.3 |
3,029.7 |
2,300.2 |
|
|
|
|
|
|
|
|
Deferred tax liabilities |
276.0 |
170.0 |
176.5 |
189.5 |
168.9 |
|
Rsrv-Accr. Retirement |
412.1 |
445.5 |
436.9 |
417.5 |
406.7 |
|
Allw-Dir.'s Retirement |
5.7 |
5.9 |
5.4 |
5.1 |
6.8 |
|
Other |
679.6 |
680.4 |
664.2 |
641.3 |
660.5 |
|
Minority Int. |
15.8 |
17.4 |
17.4 |
16.3 |
15.7 |
|
Total Liabilities |
10,951.3 |
11,082.5 |
10,818.8 |
10,178.4 |
9,358.9 |
|
|
|
|
|
|
|
|
Common Stock |
1,866.8 |
1,998.9 |
1,995.3 |
1,904.3 |
1,855.6 |
|
Paid in Capital |
1,943.0 |
2,080.5 |
2,076.7 |
1,982.1 |
1,931.4 |
|
Retained earnings |
2,288.5 |
2,426.7 |
2,416.0 |
2,252.7 |
1,893.7 |
|
Treasury Stock |
-15.3 |
-16.4 |
-16.3 |
-17.1 |
-16.7 |
|
Unrealized Gains |
230.2 |
159.0 |
138.2 |
164.6 |
139.6 |
|
Trans. Adjust. |
-847.3 |
-1,010.3 |
-992.3 |
-866.8 |
-824.6 |
|
Total Equity |
5,465.8 |
5,638.5 |
5,617.5 |
5,419.9 |
4,979.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
16,417.1 |
16,721.0 |
16,436.3 |
15,598.3 |
14,337.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
780.5 |
780.5 |
780.5 |
780.3 |
780.3 |
|
Total Common Shares Outstanding |
780.5 |
780.5 |
780.5 |
780.3 |
780.3 |
|
T/S-Common Stock |
2.4 |
2.4 |
2.4 |
2.6 |
2.6 |
|
Full-Time Employees |
- |
- |
- |
- |
27,296 |
|
|
|
|
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 |
|
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income,Bf.Tax |
669.7 |
737.7 |
-4.8 |
-214.1 |
279.1 |
|
Depreciation |
742.3 |
654.2 |
707.8 |
736.8 |
762.6 |
|
Impairment Loss |
0.8 |
17.0 |
192.7 |
10.4 |
115.3 |
|
Allw-Doubt.Acct |
-11.2 |
-11.3 |
-6.8 |
29.4 |
-4.4 |
|
Allowance Bonus |
1.9 |
11.4 |
12.6 |
-20.3 |
1.2 |
|
Rsrv-Warranty |
21.0 |
100.6 |
18.4 |
-5.3 |
-10.8 |
|
Res. of L constr. in progress |
-23.3 |
38.3 |
6.9 |
7.6 |
0.0 |
|
Rsrv-Retire Bnft |
1.9 |
-15.0 |
-24.7 |
-50.3 |
-36.2 |
|
Reserve debt guarantee |
- |
- |
- |
- |
0.0 |
|
Int.&Divid. Income |
-26.5 |
-22.7 |
-18.5 |
-37.2 |
-48.1 |
|
Amort. of Negative Goodwill |
- |
- |
- |
- |
0.0 |
|
Interest Expense |
47.9 |
52.8 |
53.2 |
33.0 |
35.5 |
|
Gain Valuation Derivative |
- |
-6.7 |
- |
- |
-43.1 |
|
L Valuation Derivative |
64.8 |
- |
1.8 |
52.7 |
1.0 |
|
Equity Gain |
-10.3 |
-30.6 |
-11.5 |
-9.2 |
-4.4 |
|
Gain on Asset Sale/Retire. |
-339.5 |
- |
- |
- |
-12.9 |
|
Loss on Asset Sale/Retire. |
- |
7.7 |
32.3 |
34.4 |
48.0 |
|
Sale&Val. Invest Sec |
-3.6 |
-0.5 |
5.4 |
8.6 |
-13.1 |
|
G/Prior Yr. Income |
- |
- |
- |
0.0 |
-13.5 |
|
Losses on transfer of receivables |
- |
- |
- |
0.0 |
-4.8 |
|
Accounts Receivable |
-514.2 |
294.2 |
-197.0 |
59.1 |
4.0 |
|
Inventories |
-621.0 |
218.0 |
607.8 |
-186.3 |
-399.2 |
|
Accounts Payable |
939.7 |
-439.2 |
726.9 |
-728.1 |
386.7 |
|
Loss Sale Inv. Secs. |
- |
- |
- |
- |
0.0 |
|
Loss Val Invest Sec |
- |
- |
- |
- |
0.0 |
|
Lease investment |
15.0 |
51.9 |
-6.2 |
-15.3 |
0.0 |
|
Operating loans |
-203.6 |
17.1 |
-130.8 |
90.8 |
0.0 |
|
Vehicles and equip. for lease |
-23.3 |
32.1 |
-30.8 |
- |
- |
|
Lease Assets |
- |
- |
- |
-4.1 |
0.0 |
|
Deposit |
53.9 |
-92.3 |
35.4 |
-47.3 |
-97.2 |
|
Other Operating Activities |
72.0 |
146.4 |
33.9 |
127.6 |
79.0 |
|
Int.&Divid. Rcvd |
28.8 |
23.0 |
18.5 |
37.2 |
51.3 |
|
Interest Paid |
-46.5 |
-53.6 |
-56.0 |
-30.5 |
-36.2 |
|
Income Taxes Paid |
-141.8 |
-117.5 |
-65.0 |
-147.1 |
-100.4 |
|
Director's Bonus Paid |
- |
- |
- |
- |
0.0 |
|
Oversea subs. FYE change |
- |
- |
- |
141.9 |
0.0 |
|
Cash Consolid. Subs. |
- |
- |
- |
20.4 |
1.7 |
|
Cash from Operating Activities |
694.8 |
1,612.9 |
1,901.6 |
-105.3 |
941.2 |
|
|
|
|
|
|
|
|
Purc. Market. Secs. |
-65.9 |
-49.4 |
-7.6 |
-22.5 |
-41.1 |
|
Sale Market. Secs. |
42.0 |
52.0 |
11.4 |
53.0 |
52.7 |
|
Capital Expenditures |
-621.3 |
-522.0 |
-571.2 |
-581.3 |
-519.9 |
|
Sale of Fixed Assets |
460.6 |
21.9 |
25.7 |
8.3 |
20.9 |
|
Purchase lease asset |
- |
- |
- |
0.0 |
-525.3 |
|
Sale lease asset |
- |
- |
- |
0.0 |
505.1 |
|
Purc. Intangible |
-40.6 |
-35.9 |
-31.1 |
-27.0 |
-24.3 |
|
Purch. Invest. Secs. |
-207.3 |
-241.8 |
-161.9 |
-203.3 |
-157.8 |
|
Sale Invest. Secs. |
175.5 |
195.1 |
68.7 |
117.9 |
139.2 |
|
Closely-held inv'ts made |
- |
- |
-0.5 |
-15.4 |
- |
|
Loans made |
-1,174.1 |
-986.3 |
-635.4 |
-638.8 |
-950.3 |
|
Loans collected |
1,119.0 |
990.2 |
631.8 |
598.7 |
1,124.0 |
|
Other, net |
-24.8 |
-20.3 |
-4.0 |
-9.8 |
-16.0 |
|
Cash from Investing Activities |
-336.9 |
-596.4 |
-674.1 |
-720.4 |
-393.0 |
|
|
|
|
|
|
|
|
ST Borrowings |
-355.0 |
-502.2 |
-881.4 |
512.7 |
-139.7 |
|
Commercial Paper,net |
- |
0.0 |
-258.2 |
179.1 |
-43.7 |
|
Proceeds LT Debt |
1,007.9 |
803.2 |
1,188.6 |
368.8 |
27.1 |
|
Repayment LT Debt |
-269.3 |
-475.2 |
-281.0 |
-204.0 |
-93.9 |
|
Proceeds from issuance of bonds |
- |
0.0 |
44.1 |
0.0 |
0.0 |
|
Redemption of bonds |
-253.4 |
-233.5 |
0.0 |
-298.6 |
-87.5 |
|
Purch. Treasury Stock |
- |
- |
-1.0 |
-0.5 |
-0.5 |
|
Sale of Treasury Stk |
- |
- |
0.0 |
310.2 |
0.2 |
|
Cash dividends paid |
-89.0 |
-40.8 |
0.0 |
-67.1 |
-56.6 |
|
Repayments of lease obligations |
-9.8 |
-15.2 |
-10.3 |
0.0 |
- |
|
Other, net |
1.4 |
3.8 |
-0.5 |
0.0 |
0.0 |
|
Cash from Financing Activities |
32.8 |
-459.9 |
-199.7 |
800.6 |
-394.7 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.2 |
-133.7 |
-8.8 |
-155.4 |
-17.2 |
|
Net Change in Cash |
386.5 |
422.9 |
1,018.9 |
-180.5 |
136.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2,882.0 |
2,234.4 |
1,041.1 |
1,141.0 |
866.6 |
|
Net Cash - Ending Balance |
3,268.5 |
2,657.3 |
2,060.1 |
960.5 |
1,003.0 |
|
Cash Interest Paid |
46.5 |
53.6 |
56.0 |
30.5 |
36.2 |
|
Cash Taxes Paid |
141.8 |
117.5 |
65.0 |
147.1 |
100.4 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Dec-2011 |
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
|
Period Length |
12 Months |
9 Months |
6 Months |
3 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
78.871359 |
79.672811 |
81.605269 |
85.691434 |
|
|
|
|
|
|
|
|
Net Income,Bf.Tax |
669.7 |
596.4 |
504.4 |
395.4 |
737.7 |
|
Depreciation |
742.3 |
539.5 |
349.1 |
158.2 |
654.2 |
|
Impairment Loss |
0.8 |
0.8 |
0.8 |
- |
17.0 |
|
Allw-Doubt.Acct |
-11.2 |
- |
- |
- |
-11.3 |
|
Allowance Bonus |
1.9 |
-103.5 |
-0.7 |
100.8 |
11.4 |
|
Warranty Reserve |
21.0 |
6.9 |
1.1 |
-7.8 |
100.6 |
|
Res. of L on constr. |
-23.3 |
-2.6 |
5.0 |
-7.1 |
38.3 |
|
Rsrv-Accr.Retire |
1.9 |
5.8 |
-2.2 |
-1.8 |
-15.0 |
|
Int.&Divid. Income |
-26.5 |
-18.0 |
-11.5 |
-7.0 |
-22.7 |
|
Interest Expense |
47.9 |
36.5 |
24.1 |
11.1 |
52.8 |
|
Loss Valuation Derivative |
64.8 |
- |
- |
- |
-6.7 |
|
Gain on valuation of derivatives |
- |
-18.9 |
-71.7 |
-21.0 |
- |
|
Equity Gain/Loss |
-10.3 |
-14.6 |
-5.7 |
-5.6 |
-30.6 |
|
G/L on Asset Sale/Retire. |
-339.5 |
-324.8 |
-324.0 |
-320.5 |
7.7 |
|
Sale/Val. of LT Investment Secs |
-3.6 |
- |
- |
- |
-0.5 |
|
Accounts Receivable |
-514.2 |
-320.5 |
-297.1 |
-69.9 |
294.2 |
|
Inventories |
-621.0 |
-772.1 |
-236.9 |
-107.2 |
218.0 |
|
Accounts Payable |
939.7 |
657.2 |
117.9 |
-261.9 |
-439.2 |
|
Lease investment |
15.0 |
18.7 |
14.1 |
11.2 |
51.9 |
|
Operating loans |
-203.6 |
-128.2 |
-74.1 |
-10.0 |
17.1 |
|
Security Deposit |
53.9 |
25.3 |
-7.2 |
41.0 |
-92.3 |
|
Vehicles & furniture for rent |
-23.3 |
32.7 |
39.5 |
15.5 |
32.1 |
|
Other Operating Activities |
72.0 |
-106.5 |
-48.1 |
-114.9 |
146.4 |
|
Int.&Divid. Rcvd |
28.8 |
20.5 |
14.0 |
7.5 |
23.0 |
|
Interest Paid |
-46.5 |
-34.9 |
-23.2 |
-9.9 |
-53.6 |
|
Income Taxes Paid/refund |
-141.8 |
-101.8 |
-83.6 |
-37.9 |
-117.5 |
|
Cash from Operating Activities |
694.8 |
-6.2 |
-116.0 |
-241.6 |
1,612.9 |
|
|
|
|
|
|
|
|
Purc. Market. Secs. |
-65.9 |
-58.1 |
-44.3 |
-14.1 |
-49.4 |
|
Sale Market. Secs. |
42.0 |
33.2 |
24.8 |
13.6 |
52.0 |
|
Capital Expenditures |
-621.3 |
-443.7 |
-259.0 |
-102.6 |
-522.0 |
|
Sale of Fixed Assets |
460.6 |
436.1 |
428.1 |
417.8 |
21.9 |
|
Purch. Intangible |
-40.6 |
-26.9 |
-15.5 |
-8.7 |
-35.9 |
|
Purch. Invest. Secs. |
-207.3 |
-146.3 |
-106.6 |
-54.2 |
-241.8 |
|
Sale Invest. Secs. |
175.5 |
127.0 |
93.3 |
44.5 |
195.1 |
|
Loans made |
-1,174.1 |
-786.1 |
-487.6 |
-243.7 |
-986.3 |
|
Loans collected |
1,119.0 |
801.1 |
521.9 |
268.4 |
990.2 |
|
Other, net |
-24.8 |
17.0 |
20.0 |
16.2 |
-20.3 |
|
Cash from Investing Activities |
-336.9 |
-46.7 |
175.1 |
337.2 |
-596.4 |
|
|
|
|
|
|
|
|
ST Borrowings,Net |
-355.0 |
-148.2 |
63.7 |
148.5 |
-502.2 |
|
Commer. Paper,net |
- |
- |
- |
- |
0.0 |
|
Proceeds LT Debt |
1,007.9 |
1,002.7 |
966.7 |
927.3 |
803.2 |
|
Repayment LT Debt |
-269.3 |
-117.1 |
-77.1 |
-23.9 |
-475.2 |
|
Issuance of Bonds |
- |
- |
- |
- |
0.0 |
|
Redemption of Bonds |
-253.4 |
-253.6 |
-251.1 |
-245.1 |
-233.5 |
|
Cash Dividends |
-89.0 |
-88.6 |
-44.1 |
-40.2 |
-40.8 |
|
Repayments of lease obligations |
-9.8 |
- |
- |
- |
-15.2 |
|
Other Financing Activities |
1.4 |
-5.9 |
-3.4 |
-2.4 |
3.8 |
|
Cash from Financing Activities |
32.8 |
389.3 |
654.7 |
764.3 |
-459.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-4.2 |
-79.2 |
-66.5 |
-10.2 |
-133.7 |
|
Net Change in Cash |
386.5 |
257.2 |
647.2 |
849.5 |
422.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2,882.0 |
2,887.4 |
2,858.4 |
2,790.7 |
2,234.4 |
|
Net Cash - Ending Balance |
3,268.5 |
3,144.7 |
3,505.6 |
3,640.2 |
2,657.3 |
|
Cash Interest Paid |
46.5 |
34.9 |
23.2 |
9.9 |
53.6 |
|
Cash Taxes Paid |
141.8 |
101.8 |
83.6 |
37.9 |
117.5 |
|
|
|
Financials in: As Reported (mil)
|
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Financials in: As Reported (mil)
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Financials in: As Reported (mil)
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Financials in: As Reported (mil)
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.31 |
|
|
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.