MIRA INFORM REPORT

 

 

Report Date :

03.07.2012

 

IDENTIFICATION DETAILS

 

Name :

MIKUNI CORPORATION

 

 

Registered Office :

Mikuni Bldg.,. 6-13-11, Soto-Kanda, Chiyoda-ku, Tokyo, 101-0021

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

01.10.1948

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Public Parent Company

 

 

Line of Business :

Subject is engaged in the automobile-related products segment, the controllers segment, the aircraft component import and sale segment & others segment manufactures and sells heaters, humidifiers, hydraulic lifts, ion oxide water generators, medical and welfare equipment, substrates, lawn mowers and maintenance equipment; sells golf carts, child seats and others; as well as provides real estate management service

 

 

No. of Employees :

5,763

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

Company name & address 

 

MIKUNI CORPORATION

Mikuni Bldg.

6-13-11, Soto-Kanda, Chiyoda-ku

Tokyo, 101-0021

Japan

Tel:       81-3-38330392

Fax:      (81) 338364210

Web:    www.mikuni.co.jp

           

 

Registration data 

 

Employees:                  5,763

Company Type:            Public Parent

Corporate Family:          9 Companies

Traded:                         Tokyo Stock Exchange: 7247

Incorporation Date:         01-Oct-1948

Auditor:                        Nihombashi Corporation 

Financials in:                 USD (Millions)

Fiscal Year End:            31-Mar-2012

Reporting Currency:       Japanese Yen

Annual Sales:               1,047.4  1

Net Income:                  20.4

Total Assets:                959.9  2

Market Value:               72.7 (08-Jun-2012)

 

 

Business Description     

 

MIKUNI CORPORATION is a manufacture company that is active in four business segments. The Automobile-related Products segment offers fuel injection-related products, including throttle bodies, discharge pumps and sensors; carburetors, including two wheels carburetors, general-purpose carburetors and carburetor components; aircraft accessories, including variable valve timing systems and active pedals; pumps, including oil, water, fuel and electrical vacuum pumps. The Controllers segment offers gas burner safety devices and gas proportional control valves. The Aircraft Component Import and Sale segment imports and sells aircraft components, aerospace equipment, components and accessories. The Others segment manufactures and sells heaters, humidifiers, hydraulic lifts, ion oxide water generators, medical and welfare equipment, substrates, lawn mowers and maintenance equipment; sells golf carts, child seats and others; as well as provides real estate management services. For the six months ended 30 September 2011, MIKUNI CORPORATION's revenues increased less than 1% to Y39.90B. The Company's net income decreased 64% to Y249.0M. Revenues reflect increased sales from aircraft part import sales business segment. Lower net income suffered from higher percentage of SGA expenses, as well as the significantly increased foreign exchange loss, and the presence of loss on disaster.

Industry             

Industry            Auto and Truck Parts

ANZSIC 2006:    231 - Motor Vehicle and Motor Vehicle Part Manufacturing

NACE 2002:      3410 - Manufacture of motor vehicles

NAICS 2002:     336312 - Gasoline Engine and Engine Parts Manufacturing

UK SIC 2003:    3410 - Manufacture of motor vehicles

US SIC 1987:    3714 - Motor Vehicle Parts and Accessories

 

           

Key Executives   

 

Name

Title

Hisataka Ikuta

President, Representative Director

Junnosuke Sakura

Managing Director, Managing Executive Officer, Chief Director of Marketing, Chairman of Sub

Koji Kaneda

Executive Officer, Chief Director of Business Planning and Administration

Susumu Abe

Co-Auditor

Kiyonori Watanabe

Co-Auditor

 

 

Significant Developments  

 

 

Topic

#*

Most Recent Headline

Date

Negative Earnings Pre-Announcement

1

MIKUNI CORP. Amends Consolidated Mid-year and Full-year Outlook for FY 2012

4-Nov-2011

Other Earnings Pre-Announcement

2

MIKUNI CORP. Issues Consolidated Full-year Forecast for FY 2012

14-Feb-2012

Positive Earnings Pre-Announcement

1

MIKUNI CORP. Amends Consolidated Full-year Outlook for FY 2012; Expects Extraordinary Profit and Loss for FY 2012

8-May-2012

* number of significant developments within the last 12 months                                                                     

 

 

News  

 

Title

Date

Mikuni FY Grp Net Pft Y1.60B Vs Y939.00M Pft Yr Earlier
Nikkei English News (77 Words)

14-May-2012

Mikuni Expects This FY Group Net Profit Y1.70B
Nikkei English News (60 Words)

14-May-2012

BRIEF: Mikuni to host festival at Fountains complex in Roseville
Sacramento Bee (CA) (153 Words)

11-May-2012

Mikuni Expects FY Group Net Profit Y1.60B
Nikkei English News (42 Words)

7-May-2012

CARE reaffirms rating of Ucal Fuel systems' long-term bank facilities
Accord Fintech (India) (172 Words)

25-Apr-2012

 

Financial Summary    

 

 

As of 31-Mar-2012

Key Ratios

Company

Industry

Current Ratio (MRQ)

0.88

1.97

Quick Ratio (MRQ)

0.66

1.25

Debt to Equity (MRQ)

2.63

0.52

Sales 5 Year Growth

-2.85

-0.73

Net Profit Margin (TTM) %

2.39

5.15

Return on Assets (TTM) %

2.52

7.12

Return on Equity (TTM) %

12.06

22.22

 

 

Stock Snapshot

             

 

Traded: Tokyo Stock Exchange: 7247

 

As of 8-Jun-2012

   Financials in: JPY

Recent Price

170.00

 

EPS

44.25

52 Week High

223.00

 

Price/Sales

0.07

52 Week Low

139.00

 

Dividend Rate

5.00

Avg. Volume (mil)

0.02

 

Price/Earnings

4.13

Market Value (mil)

5,788.40

 

Price/Book

0.41

 

 

 

Beta

1.42

 

Price % Change

Rel S&P 500%

4 Week

-10.53%

-5.46%

13 Week

-16.67%

-1.47%

52 Week

-6.59%

5.80%

Year to Date

18.06%

19.85%

 

 

Corporate Overview

 

Location

Mikuni Bldg.

6-13-11, Soto-Kanda, Chiyoda-ku

Tokyo, 101-0021

Japan

Tel:       81-3-38330392

Fax:      (81) 338364210

Web:    www.mikuni.co.jp

           

Quote Symbol - Exchange

7247 - Tokyo Stock Exchange

Sales JPY(mil):              82,704.0

Assets JPY(mil):            79,079.0

Employees:                   5,763

Fiscal Year End:            31-Mar-2012

Industry:                        Auto and Truck Parts

Incorporation Date:         01-Oct-1948

Company Type:             Public Parent

Quoted Status:              Quoted

President,

Representative Director:  Hisataka Ikuta

 

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Home Page

Products/Services

 

Contents

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

3411     -          Agricultural and Construction Machinery Wholesaling

2449     -          Other Domestic Appliance Manufacturing

231       -          Motor Vehicle and Motor Vehicle Part Manufacturing

6639     -          Other Goods and Equipment Rental and Hiring Not Elsewhere Classified

3734     -          Toy and Sporting Goods Wholesaling

2394     -          Aircraft Manufacturing and Repair Services

2451     -          Pump and Compressor Manufacturing

 

NACE 2002 Codes:

3410     -          Manufacture of motor vehicles

2971     -          Manufacture of electric domestic appliances

2912     -          Manufacture of pumps and compressors

5188     -          Wholesale of agricultural machinery and accessories and implements, including tractors

5147     -          Wholesale of other household goods

2822     -          Manufacture of central heating radiators and boilers

7133     -          Renting of office machinery and equipment including computers

3530     -          Manufacture of aircraft and spacecraft

 

NAICS 2002 Codes:

335211  -          Electric Housewares and Household Fan Manufacturing

336411  -          Aircraft Manufacturing

333911  -          Pump and Pumping Equipment Manufacturing

333414  -          Heating Equipment (except Warm Air Furnaces) Manufacturing

532420  -          Office Machinery and Equipment Rental and Leasing

423820  -          Farm and Garden Machinery and Equipment Merchant Wholesalers

336413  -          Other Aircraft Part and Auxiliary Equipment Manufacturing

423910  -          Sporting and Recreational Goods and Supplies Merchant Wholesalers

336312  -          Gasoline Engine and Engine Parts Manufacturing

 

US SIC 1987:

3433     -          Heating Equipment, Except Electric and Warm Air Furnaces

7377     -          Computer Rental and Leasing

3634     -          Electric Housewares and Fans

5091     -          Sporting and Recreational Goods and Supplies

5083     -          Farm and Garden Machinery and Equipment

3721     -          Aircraft

3714     -          Motor Vehicle Parts and Accessories

3728     -          Aircraft Parts and Auxiliary Equipment, Not Elsewhere Classified

3561     -          Pumps and Pumping Equipment

 

UK SIC 2003:

29121   -          Manufacture of pumps

3410     -          Manufacture of motor vehicles

2822     -          Manufacture of central heating radiators and boilers

7133     -          Renting of office machinery and equipment including computers

5188     -          Wholesale of agricultural machinery and accessories and implements, including tractors

3530     -          Manufacture of aircraft and spacecraft

51479   -          Wholesale of other household goods not elsewhere classified

2971     -          Manufacture of electric domestic appliances

 

Business Description

MIKUNI CORPORATION is a manufacture company that is active in four business segments. The Automobile-related Products segment offers fuel injection-related products, including throttle bodies, discharge pumps and sensors; carburetors, including two wheels carburetors, general-purpose carburetors and carburetor components; aircraft accessories, including variable valve timing systems and active pedals; pumps, including oil, water, fuel and electrical vacuum pumps. The Controllers segment offers gas burner safety devices and gas proportional control valves. The Aircraft Component Import and Sale segment imports and sells aircraft components, aerospace equipment, components and accessories. The Others segment manufactures and sells heaters, humidifiers, hydraulic lifts, ion oxide water generators, medical and welfare equipment, substrates, lawn mowers and maintenance equipment; sells golf carts, child seats and others; as well as provides real estate management services. For the six months ended 30 September 2011, MIKUNI CORPORATION's revenues increased less than 1% to Y39.90B. The Company's net income decreased 64% to Y249.0M. Revenues reflect increased sales from aircraft part import sales business segment. Lower net income suffered from higher percentage of SGA expenses, as well as the significantly increased foreign exchange loss, and the presence of loss on disaster.

 

More Business Descriptions

·         Manufacture of carburetors and fuel injection products

Carburetors, Pumps, Heaters, Lawnmowers & General Industrial Machinery Mfr

Automobile and Light Duty Motor Vehicle Manufacturing

 

Financial Data

Financials in:

JPY(mil)

 

Revenue:

82,704.0

Net Income:

1,607.0

Assets:

79,079.0

Long Term Debt:

9,496.0

 

Total Liabilities:

65,124.0

 

Working Capital:

-10.0

 

 

 

Date of Financial Data:

31-Mar-2012

 

1 Year Growth

3.7%

70.6%

2.2%

 

Market Data

Quote Symbol:

7247

Exchange:

Tokyo Stock Exchange

Currency:

JPY

Stock Price:

170.0

Stock Price Date:

06-08-2012

52 Week Price Change %:

-6.6

Market Value (mil):

5,788,402.0

 

SEDOL:

6592200

ISIN:

JP3882800000

 

Equity and Dept Distribution:

All WAS up to '04 were estimated. FY'05-'07 Q1&3 WAS & O/S were estimated. FY'08 Q3 WAS=O/S. FY'08 2QWAS was estimated to reflect reported EPS. FY'08 Q1 WAS=o/s, reported EPS=Y7.03. FY'09 Q1 reported EPS=Y4.06.

 

 

Shareholders

 

 

Major Shareholders

Aioi Insurance (5.5%)

 

 

 

Key Corporate Relationships

Auditor:

Nihombashi Corporation

 

Auditor:

Nihombashi Corporation

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

MIKUNI CORPORATION

MIKUNI CORPORATION 
Total Corporate Family Members: 9 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

MIKUNI CORPORATION

Parent

Tokyo

Japan

Auto and Truck Parts

1,047.4

5,763

Mikuni Indonesia, Pt

Subsidiary

Bekasi, West Java

Indonesia

Auto and Truck Parts

 

350

Mikuni R.K. Corporation

Subsidiary

Inchon, Inchon

Korea, Republic of

Miscellaneous Capital Goods

 

45

Mikuni American Corporation

Subsidiary

Northridge, CA

United States

Auto and Truck Parts

38.0

30

MIKUNI EUROPE GmbH

Subsidiary

Eschborn, Hessen

Germany

Miscellaneous Capital Goods

 

10

Mikuni Partec Corporation

Subsidiary

Makinohara, Shizuoka

Japan

Miscellaneous Capital Goods

69.7

 

Mbs, K.K.

Subsidiary

Odawara, Kanagawa

Japan

Miscellaneous Transportation

17.8

 

Mikuni Life Tech-Fukuoka

Subsidiary

Iwate

Japan

Metal Mining

1.0

 

Mikuni Sogyo Company Limited

Subsidiary

Tokyo

Japan

Real Estate Operations

1.0

 

 

 

EXECUTivE REPOrT

 

Board of Directors

 

Name

Title

Function

 

Masaki Ikuta

 

Chairman of the Board, Representative Director

Chairman

 

Biography:

Mr. Masaki Ikuta has been serving as Chairman of the Board and Representative Director in MIKUNI CORPORATION since June 27, 2008. He joined the Company in May 1956. His previous titles include Vice President and President. He used to serve as President and Representative Director in a subsidiary, Chairman of the Board and Representative Director in another subsidiary that has merged with its parent company MIKUNI CORPORATION and a United States-based subsidiary.

 

Age: 76

 

Education:

Keio University, Economics 

 

Toshiro Asai

 

Managing Executive Officer, Chief Director of Production, Director

Director/Board Member

 

 

Biography:

Mr. Toshiro Asai has been serving as Managing Executive Officer, Chief Director of Production and Director in MIKUNI CORPORATION, since June 26, 2009. He joined the Company in April 1977. His previous titles include Executive Officer, Kikukawa Plant Manager, Deputy Director of Motorcycel Business, Manager of ISO Promotion Office, Manager of Technology Group and Director of LifeTec Business. Mr. Asai used to serve as Chairman of the Board of a China-based subsidiary

 

Age: 58

 

Masahiro Hayashida

 

Managing Executive Officer, Chief Director of Development and Purchasing, Director

Director/Board Member

 

 

Biography:

Mr. Masahiro Hayashida was named Managing Executive Officer, Chief Director of Development and Purchasing and Director of MIKUNI CORPORATION, effective April 1, 2012. Prior to that, he served as Managing Executive Officer, Chief Director of Development and Director in the Company. He joined the Company in April 1979. His previous titles include Manager of Technology Center, Assistant Senior Manager of Technology Center, Director of 1st Technology, Assistant Director of Electronic Technology, Executive Officer, Deputy Chief Director of Development Technology, Manager of R&D Center, Chief Senior Director of Technology, Manger of Product Technology Center and Chief Director of Control Development Technology.

 

Age: 58

 

Hisataka Ikuta

 

President, Representative Director

Director/Board Member

 

 

Biography:

Mr. Hisataka Ikuta has been serving as President and Representative Director in MIKUNI CORPORATION since June 27, 2008. He joined the Company in June 2001. His previous titles include Director of 2nd Marketing & Sales in Marketing Main Unit, Director of LifeTec Business, Managing Executive Officer, Senior Managing Executive Officer, Chief Director of Business Planning & Administration, Leader of CS Project, Executive Vice President and Director in the Company. He used to work for several companies including Mitsubishi Corporation. He obtained his Bachelor Degree of Commerce from Keio University in March 1986.

 

Age: 48

 

Education:

Keio University, B (Commerce)

 

Masanobu Kawabata

 

Director

Director/Board Member

I

 

Junnosuke Sakura

 

Managing Director, Managing Executive Officer, Chief Director of Marketing, Chairman of Sub

Director/Board Member

 

 

Biography:

Mr. Junnosuke Sakura has been serving as Managing Director, Managing Executive Officer and Chief Director of Marketing in MIKUNI CORPORATION, as well as Chairman of the Board in a South Korea-based subsidiary, since June 2011. He joined the Company in April 1976. His previous titles include Director of 1st and 3rd Sales in Sales Main Unit, Director of 1st Marketing and Sales in Main Marketing Unit, Executive Officer and Chief Director of Business Planning & Administration in the Company. He used to be Chairman of the Board in a Taiwan-based subsidiary and a China Mainland-based subsidiary.

 

Age: 57

 

Eiichi Sakurai

 

Board Member

Director/Board Member

 

 

Masayuki Takashima

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Masayuki Takashima has been serving as Independent Director in MIKUNI CORPORATION since June 26, 2009. He is also serving as Independent Director of Mitsubishi Steel Mfg. Co., Ltd., and Professor of Teikyo University. He is also working for Mitsubishi Corporation.

 

Age: 71

 

Takeshi Umebayashi

 

Managing Director, Managing Executive Officer

Director/Board Member

 

 

Biography:

Mr. Takeshi Umebayashi was named Managing Director and Managing Executive Officer of MIKUNI CORPORATION, effective April 1, 2012. Prior to that, he served as Managing Director, Managing Executive Officer, as well as Chief Director of Business Planning and Administration in the Company. He joined the Company in April 1971. His previous titles include Director of Overseas, Chief Director of Overseas, Manager of Overseas Business Management Office, Deputy Chief Director of Marketing, Chief Director of Business Planning and Executive Officer. He used to serve as Chairman of the Board in a Taiwan-based subsidiary.

 

Age: 63

 

Hiroshi Yamanaka

 

Managing Director, Managing Executive Officer

Director/Board Member

 

 

Biography:

Mr. Hiroshi Yamanaka was named Managing Director and Managing Executive Officer of MIKUNI CORPORATION, effective April 1, 2012. Prior to that, he served as Managing Director, Managing Executive Officer and Chief Director of Purchase in the Company. He joined the Company in April 1971. His previous titles include Director of 1st Sales, Director of 3rd Sales, Chief Director of Sales, Managing Director, Chief Director of Marketing and Executive Officer. He used to work for another company.

 

Age: 64

 

 

Executives

 

Name

Title

Function

 

Hisataka Ikuta

 

President, Representative Director

President

 

Biography:

Mr. Hisataka Ikuta has been serving as President and Representative Director in MIKUNI CORPORATION since June 27, 2008. He joined the Company in June 2001. His previous titles include Director of 2nd Marketing & Sales in Marketing Main Unit, Director of LifeTec Business, Managing Executive Officer, Senior Managing Executive Officer, Chief Director of Business Planning & Administration, Leader of CS Project, Executive Vice President and Director in the Company. He used to work for several companies including Mitsubishi Corporation. He obtained his Bachelor Degree of Commerce from Keio University in March 1986.

 

Age: 48

 

Education:

Keio University, B (Commerce)

 

Junnosuke Sakura

 

Managing Director, Managing Executive Officer, Chief Director of Marketing, Chairman of Sub

Managing Director

 

 

Biography:

Mr. Junnosuke Sakura has been serving as Managing Director, Managing Executive Officer and Chief Director of Marketing in MIKUNI CORPORATION, as well as Chairman of the Board in a South Korea-based subsidiary, since June 2011. He joined the Company in April 1976. His previous titles include Director of 1st and 3rd Sales in Sales Main Unit, Director of 1st Marketing and Sales in Main Marketing Unit, Executive Officer and Chief Director of Business Planning & Administration in the Company. He used to be Chairman of the Board in a Taiwan-based subsidiary and a China Mainland-based subsidiary.

 

Age: 57

 

Takeshi Umebayashi

 

Managing Director, Managing Executive Officer

Managing Director

 

 

Biography:

Mr. Takeshi Umebayashi was named Managing Director and Managing Executive Officer of MIKUNI CORPORATION, effective April 1, 2012. Prior to that, he served as Managing Director, Managing Executive Officer, as well as Chief Director of Business Planning and Administration in the Company. He joined the Company in April 1971. His previous titles include Director of Overseas, Chief Director of Overseas, Manager of Overseas Business Management Office, Deputy Chief Director of Marketing, Chief Director of Business Planning and Executive Officer. He used to serve as Chairman of the Board in a Taiwan-based subsidiary.

 

Age: 63

 

Hiroshi Yamanaka

 

Managing Director, Managing Executive Officer

Managing Director

 

 

Biography:

Mr. Hiroshi Yamanaka was named Managing Director and Managing Executive Officer of MIKUNI CORPORATION, effective April 1, 2012. Prior to that, he served as Managing Director, Managing Executive Officer and Chief Director of Purchase in the Company. He joined the Company in April 1971. His previous titles include Director of 1st Sales, Director of 3rd Sales, Chief Director of Sales, Managing Director, Chief Director of Marketing and Executive Officer. He used to work for another company.

 

Age: 64

 

Susumu Abe

 

Co-Auditor

Finance Executive

I

 

Yoshihiro Nozaki

 

Co-Auditor

Finance Executive

I

 

Hideo Yamada

 

Co-Auditor

Finance Executive

I

 

Kiyonori Watanabe

 

Co-Auditor

Accounting Executive

I

 

Nobuo Shibazaki

 

Executive Officer, Deputy Chief Director of Marketing

Marketing Executive

 

 

Koji Kaneda

 

Executive Officer, Chief Director of Business Planning and Administration

Other

 

 

Hajime Morita

 

Executive Officer, Director of Internal Control

Other

 

 

Tetsuo Muraji

 

Executive Officer, Deputy Chief Director of Development and Purchasing

Other

 

 

Sadaro Nihei

 

Executive Officer

Other

 

 

Toshio Sugii

 

Executive Officer, Chief Director of Quality Assurance

Other

 

 

Ichiro Sugiyama

 

Executive Officer, Deputy Chief Director of Production

Other

 

 

Akira Takahashi

 

Executive Officer

Other

 

 

Hiromi Wamura

 

Executive Officer, Chief Director of Supervision Production Technology

Other

 

 

Age: 60

 

 

 

Significant Developments

 

MIKUNI CORP. Amends Consolidated Full-year Outlook for FY 2012; Expects Extraordinary Profit and Loss for FY 2012 May 08, 2012

 

MIKUNI CORP. announced that it has raised the consolidated full-year outlook for revenue from JPY 81,000 million to JPY 82,700 million, operating profit from JPY 2,500 million to JPY 2,570 million, ordinary profit from JPY 1,700 million to JPY 2,050 million, and amended the full-year outlook for net profit from an undetermined value to JPY 1,600 million and earning per share from an undetermined value to JPY 47.20 for the fiscal year ended March 31, 2012. This is due to production recovery after the flood in Thailand. The Company also announced that it is expecting an extraordinary profit of JPY 2.644 billion, as gain on insurance proceeds for the damage of flood, an extraordinary loss of JPY 1.996 billion as loss in damage of flood, an extraordinary loss of JPY 324 million as depletion loss of fixed assets, for the fiscal year ended March 31, 2012.

 

MIKUNI CORP. Issues Consolidated Full-year Forecast for FY 2012 Feb 14, 2012

 

MIKUNI CORP. announced that it has issued the consolidated full-year forecast for revenue of JPY 81,000 million, operating profit of JPY 2,500 million and ordinary profit of JPY 1,700 million, as well as net profit and earning per share undetermined for the fiscal year ending March 31, 2012.

 

MIKUNI CORP. Amends Consolidated Mid-year and Full-year Outlook for FY 2012 Nov 04, 2011

 

MIKUNI CORP. announced that it has lowered its consolidated mid-year outlook for revenue from JPY 40,000 million to JPY 39,900 million, net profit from JPY 300 million to JPY 250 million and earning per share from JPY 8.85 to JPY 7.37, but raised the outlook for operating profit from JPY 900 million to JPY 1,400 million and maintained the outlook for ordinary profit of JPY 800 million, for the fiscal year ending March 2012. In addition, the Company has also changed its consolidated full-year outlook for revenue from JPY 84,000 million to an undetermined value, operating profit from JPY 2,100 million to an undetermined value, ordinary profit from JPY 1,600 million to an undetermined value, net profit from JPY 700 million to an undetermined value and earning per share from JPY 20.65 to an undetermined value, for the fiscal year ending March 2012. The Company lowered the mid-year net profit outlook due to the impact of the higher yen, and changed the full-year outlook due to the uncertain business conditions.

 

MIKUNI CORP. Issues FY 2012 Outlook; Amends Midterm and Year-end Dividend Outlook for FY Ending March 2012 Jul 12, 2011

 

MIKUNI CORP. announced that it has issued its consolidated mid-year outlook for revenue of JPY 40,000 million, operating profit of JPY 900 million, ordinary profit of JPY 800 million, net profit of JPY 300 million and earning per share of JPY 8.85 for the fiscal year ending March 31, 2012. The Company also issued its consolidated full-year outlook for revenue of JPY 84,000 million, operating profit of JPY 2,100 million, ordinary profit of JPY 1,600 million, net profit of JPY 700 million and earning per share of JPY 20.65 for the fiscal year ending March 31, 2012. The Company also reaffirmed its midterm dividend outlook of JPY 0.00 per share, and amends its year-end dividend outlook from an undetermined value, which was announced on May 13, 2011, to JPY 5.00 per share, for the same fiscal year.

 

 

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 
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,047.4

930.8

702.1

874.8

861.4

Revenue

1,047.4

930.8

702.1

874.8

861.4

Total Revenue

1,047.4

930.8

702.1

874.8

861.4

 

 

 

 

 

 

    Cost of Revenue

902.7

801.0

635.3

781.9

743.1

Cost of Revenue, Total

902.7

801.0

635.3

781.9

743.1

Gross Profit

144.7

129.8

66.8

92.9

118.3

 

 

 

 

 

 

    Selling/General/Administrative Expense

112.1

66.1

58.7

66.6

61.6

    Labor & Related Expense

-

32.4

29.1

31.1

29.9

Total Selling/General/Administrative Expenses

112.1

98.5

87.8

97.7

91.5

    Amortization of Acquisition Costs

-

-

0.0

0.0

-0.3

Depreciation/Amortization

-

-

0.0

0.0

-0.3

    Restructuring Charge

0.6

2.7

11.1

0.0

-

    Impairment-Assets Held for Use

4.1

0.0

0.7

1.1

0.0

    Impairment-Assets Held for Sale

0.1

1.6

0.0

0.1

9.4

    Other Unusual Expense (Income)

-7.6

1.6

0.4

-1.0

1.1

Unusual Expense (Income)

-2.8

5.9

12.2

0.2

10.5

Total Operating Expense

1,012.1

905.5

735.3

879.8

844.9

 

 

 

 

 

 

Operating Income

35.3

25.3

-33.1

-5.0

16.4

 

 

 

 

 

 

        Interest Expense - Non-Operating

-5.4

-5.0

-5.3

-5.4

-4.1

    Interest Expense, Net Non-Operating

-5.4

-5.0

-5.3

-5.4

-4.1

        Interest Income - Non-Operating

0.8

0.5

0.4

0.3

0.0

        Investment Income - Non-Operating

-4.0

-4.4

-0.2

-7.6

-5.2

    Interest/Investment Income - Non-Operating

-3.1

-4.0

0.2

-7.3

-5.2

Interest Income (Expense) - Net Non-Operating Total

-8.5

-9.0

-5.0

-12.7

-9.4

Gain (Loss) on Sale of Assets

-0.3

1.4

1.5

0.7

-1.2

    Other Non-Operating Income (Expense)

1.9

0.1

1.1

2.0

1.6

Other, Net

1.9

0.1

1.1

2.0

1.6

Income Before Tax

28.4

17.9

-35.6

-15.0

7.5

 

 

 

 

 

 

Total Income Tax

3.4

4.9

13.1

5.9

7.1

Income After Tax

25.0

13.0

-48.8

-20.9

0.4

 

 

 

 

 

 

    Minority Interest

-4.7

-2.0

-1.1

-3.8

-3.1

Net Income Before Extraord Items

20.4

11.0

-49.9

-24.7

-2.7

Net Income

20.4

11.0

-49.9

-24.7

-2.7

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-0.1

0.0

0.0

0.0

0.0

Total Adjustments to Net Income

-0.1

0.0

0.0

0.0

0.0

Income Available to Common Excl Extraord Items

20.3

11.0

-49.9

-24.7

-2.8

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

20.3

11.0

-49.9

-24.7

-2.8

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Basic EPS Excl Extraord Items

0.60

0.32

-1.47

-0.73

-0.08

Basic/Primary EPS Incl Extraord Items

0.60

0.32

-1.47

-0.73

-0.08

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

20.3

11.0

-49.9

-24.7

-2.8

Diluted Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Diluted EPS Excl Extraord Items

0.60

0.32

-1.47

-0.73

-0.08

Diluted EPS Incl Extraord Items

0.60

0.32

-1.47

-0.73

-0.08

Dividends per Share - Common Stock Primary Issue

0.06

0.06

0.00

0.01

0.10

Gross Dividends - Common Stock

2.1

2.0

0.0

0.3

3.3

Interest Expense, Supplemental

5.4

5.0

5.3

5.4

4.1

Depreciation, Supplemental

46.4

45.1

45.1

40.3

31.3

Total Special Items

-1.6

5.3

11.6

-0.6

11.5

Normalized Income Before Tax

26.8

23.2

-24.0

-15.5

18.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-0.3

1.2

3.7

-0.2

4.1

Inc Tax Ex Impact of Sp Items

3.1

6.2

16.9

5.7

11.2

Normalized Income After Tax

23.7

17.0

-40.9

-21.2

7.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

19.0

15.0

-42.1

-25.1

4.6

 

 

 

 

 

 

Basic Normalized EPS

0.56

0.44

-1.24

-0.74

0.14

Diluted Normalized EPS

0.56

0.44

-1.24

-0.74

0.14

Amort of Acquisition Costs, Supplemental

0.8

0.8

0.9

0.0

-0.3

Research & Development Exp, Supplemental

16.0

12.0

10.7

13.9

12.6

Reported Operating Profit

32.6

31.3

-20.9

-4.8

26.7

Reported Ordinary Profit

26.0

24.4

-23.5

-13.9

19.2

Normalized EBIT

32.6

31.3

-20.9

-4.8

27.0

Normalized EBITDA

79.9

77.2

25.0

35.5

58.0

Interest Cost - Domestic

-

2.2

2.0

1.7

1.5

Service Cost - Domestic

-

4.7

4.3

3.7

3.1

Prior Service Cost - Domestic

-

-1.3

-1.2

-1.1

-1.0

Expected Return on Assets - Domestic

-

-1.1

-0.9

-1.0

-0.9

Actuarial Gains and Losses - Domestic

-

2.0

1.9

0.9

0.5

Transition Costs - Domestic

-

2.3

2.1

1.9

1.7

Domestic Pension Plan Expense

-

8.6

8.1

6.2

4.9

Total Pension Expense

-

8.6

8.1

6.2

4.9

Discount Rate - Domestic

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

-

3.00%

3.00%

3.00%

3.00%

Total Plan Interest Cost

-

2.2

2.0

1.7

1.5

Total Plan Service Cost

-

4.7

4.3

3.7

3.1

Total Plan Expected Return

-

-1.1

-0.9

-1.0

-0.9

 

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

82.88

93.44

98.77

99.535

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

91.2

97.2

80.8

68.6

33.9

Cash and Short Term Investments

91.2

97.2

80.8

68.6

33.9

        Accounts Receivable - Trade, Gross

210.5

196.6

171.8

142.4

205.1

        Provision for Doubtful Accounts

-0.7

-0.8

-1.2

-0.9

-1.1

    Trade Accounts Receivable - Net

209.7

195.8

170.7

141.5

204.0

Total Receivables, Net

209.7

195.8

170.7

141.5

204.0

    Inventories - Finished Goods

72.1

73.6

50.7

61.9

66.8

    Inventories - Work In Progress

32.7

40.0

30.0

29.9

36.1

    Inventories - Raw Materials

18.3

15.8

11.6

15.9

15.7

Total Inventory

123.2

129.4

92.4

107.7

118.7

    Deferred Income Tax - Current Asset

11.5

12.4

8.2

9.3

13.2

    Other Current Assets

52.0

19.6

16.0

17.7

19.9

Other Current Assets, Total

63.5

32.0

24.1

27.0

33.1

Total Current Assets

487.6

454.4

368.0

344.8

389.6

 

 

 

 

 

 

        Buildings

-

337.5

297.7

278.0

279.7

        Land/Improvements

-

156.0

139.2

132.0

131.3

        Machinery/Equipment

-

665.7

584.1

547.0

548.6

        Construction in Progress

-

16.4

12.7

29.6

19.3

    Property/Plant/Equipment - Gross

-

1,175.5

1,033.7

986.5

978.8

    Accumulated Depreciation

-

-774.7

-664.2

-611.8

-608.3

Property/Plant/Equipment - Net

390.7

400.8

369.5

374.7

370.5

Goodwill, Net

0.8

1.7

2.2

2.6

1.3

Intangibles, Net

5.5

5.4

4.3

8.0

10.1

    LT Investment - Affiliate Companies

-

10.8

-

-

-

    LT Investments - Other

45.8

38.8

57.3

42.2

58.0

Long Term Investments

45.8

49.6

57.3

42.2

58.0

Note Receivable - Long Term

0.0

0.0

0.0

0.0

0.2

    Deferred Income Tax - Long Term Asset

19.2

14.8

13.1

22.6

16.0

    Other Long Term Assets

10.2

7.3

7.5

7.4

6.8

Other Long Term Assets, Total

29.3

22.1

20.7

29.9

22.8

Total Assets

959.9

934.0

822.0

802.3

852.5

 

 

 

 

 

 

Accounts Payable

144.3

133.8

101.7

93.7

130.5

Accrued Expenses

16.0

33.5

26.0

24.3

33.3

Notes Payable/Short Term Debt

266.9

258.4

241.0

219.8

245.9

Current Portion - Long Term Debt/Capital Leases

63.3

56.7

42.2

36.4

25.8

    Income Taxes Payable

1.9

1.7

1.3

1.6

2.0

    Other Payables

53.7

13.2

8.6

5.9

16.4

    Other Current Liabilities

5.2

9.4

3.5

14.2

7.0

Other Current liabilities, Total

60.8

24.3

13.4

21.6

25.4

Total Current Liabilities

551.3

506.7

424.3

395.9

461.0

 

 

 

 

 

 

    Long Term Debt

110.8

146.4

145.2

129.2

55.0

    Capital Lease Obligations

4.4

4.3

4.0

3.5

0.0

Total Long Term Debt

115.3

150.7

149.2

132.7

55.0

Total Debt

445.4

465.9

432.5

388.9

326.8

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

35.9

39.8

34.5

32.6

34.4

Deferred Income Tax

35.9

39.8

34.5

32.6

34.4

Minority Interest

23.4

21.9

18.5

16.6

19.7

    Pension Benefits - Underfunded

56.6

54.6

47.4

44.0

43.8

    Other Long Term Liabilities

8.0

8.0

7.4

7.0

7.2

Other Liabilities, Total

64.6

62.6

54.8

51.1

51.0

Total Liabilities

790.5

781.8

681.4

628.9

621.1

 

 

 

 

 

 

    Common Stock

26.9

26.7

23.7

22.4

22.3

Common Stock

26.9

26.7

23.7

22.4

22.3

Additional Paid-In Capital

20.6

20.5

18.2

17.2

17.1

Retained Earnings (Accumulated Deficit)

85.2

67.9

52.4

96.9

126.9

Treasury Stock - Common

-0.5

-0.5

-0.5

-0.4

-0.4

Unrealized Gain (Loss)

69.7

62.9

58.4

51.5

59.6

    Translation Adjustment

-32.5

-25.3

-11.7

-14.2

6.0

Other Equity, Total

-32.5

-25.3

-11.7

-14.2

6.0

Total Equity

169.4

152.2

140.6

173.5

231.3

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

959.9

933.9

821.9

802.3

852.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

33.9

33.9

33.9

33.9

33.9

Total Common Shares Outstanding

33.9

33.9

33.9

33.9

33.9

Treasury Shares - Common Stock Primary Issue

0.2

0.2

0.1

0.1

0.1

Employees

-

5,763

5,676

5,757

5,422

Number of Common Shareholders

-

4,053

4,113

4,250

4,232

Total Long Term Debt, Supplemental

-

198.2

183.8

163.5

80.9

Long Term Debt Maturing within 1 Year

-

51.8

38.5

34.3

25.8

Long Term Debt Maturing in Year 2

-

54.5

40.4

29.6

17.1

Long Term Debt Maturing in Year 3

-

42.4

41.4

29.2

12.3

Long Term Debt Maturing in Year 4

-

28.5

31.4

28.3

10.2

Long Term Debt Maturing in Year 5

-

14.7

19.1

20.4

6.9

Long Term Debt Maturing in 2-3 Years

-

96.9

81.8

58.8

29.3

Long Term Debt Maturing in 4-5 Years

-

43.3

50.4

48.6

17.1

Long Term Debt Matur. in Year 6 & Beyond

-

6.3

13.0

21.7

8.5

Total Capital Leases, Supplemental

-

9.2

7.7

5.6

-

Capital Lease Payments Due in Year 1

-

4.9

3.6

2.1

-

Capital Lease Payments Due in Year 2

-

2.9

2.8

2.1

-

Capital Lease Payments Due in Year 3

-

1.1

1.1

1.3

-

Capital Lease Payments Due in Year 4

-

0.2

0.1

0.0

-

Capital Lease Payments Due in Year 5

-

0.1

0.0

0.0

-

Capital Lease Payments Due in 2-3 Years

-

4.0

3.9

3.4

-

Capital Lease Payments Due in 4-5 Years

-

0.2

0.1

0.1

-

Cap. Lease Pymts. Due in Year 6 & Beyond

-

0.0

0.0

0.0

-

Pension Obligation - Domestic

-

111.0

101.4

94.2

89.0

Plan Assets - Domestic

-

38.3

33.7

27.5

32.2

Funded Status - Domestic

-

-72.7

-67.7

-66.8

-56.8

Total Funded Status

-

-72.7

-67.7

-66.8

-56.8

Discount Rate - Domestic

-

2.00%

2.00%

2.00%

2.00%

Pension Payment Rate - Foreign

-

3.00%

3.00%

3.00%

3.00%

Accrued Liabilities - Domestic

-

-54.6

-47.4

-44.0

-43.8

Other Assets, Net - Domestic

-

18.2

20.3

22.7

13.0

Net Assets Recognized on Balance Sheet

-

-36.4

-27.1

-21.3

-30.8

Total Plan Obligations

-

111.0

101.4

94.2

89.0

Total Plan Assets

-

38.3

33.7

27.5

32.2

 

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

28.4

17.9

-35.6

-15.0

7.5

    Depreciation

46.4

45.1

45.1

40.3

31.3

Depreciation/Depletion

46.4

45.1

45.1

40.3

31.3

    Amortization of Acquisition Costs

0.8

0.8

0.9

0.0

-0.3

Amortization

0.8

0.8

0.9

0.0

-0.3

    Unusual Items

30.9

3.1

0.9

2.0

10.6

    Equity in Net Earnings (Loss)

0.1

0.2

0.3

1.0

2.2

    Other Non-Cash Items

-28.1

4.1

5.2

4.1

2.9

Non-Cash Items

2.9

7.5

6.4

7.2

15.7

    Accounts Receivable

-15.4

5.2

-16.7

52.8

-4.9

    Inventories

0.1

-24.9

24.8

3.8

-6.1

    Prepaid Expenses

-

-

-

0.5

0.5

    Accounts Payable

14.4

3.4

8.3

-30.0

-12.0

    Accrued Expenses

-

3.4

-2.7

-2.7

-1.1

    Other Operating Cash Flow

-10.7

-1.4

-4.0

2.4

-9.4

Changes in Working Capital

-11.6

-14.3

9.7

26.7

-33.1

Cash from Operating Activities

66.9

56.9

26.4

59.2

21.2

 

 

 

 

 

 

    Purchase of Fixed Assets

-48.8

-32.0

-32.5

-77.4

-46.8

    Purchase/Acquisition of Intangibles

-

-1.3

-3.7

-1.6

-3.2

Capital Expenditures

-48.8

-33.3

-36.2

-79.0

-50.0

    Sale of Fixed Assets

9.3

7.2

9.7

12.8

9.9

    Sale/Maturity of Investment

0.6

6.0

1.2

3.2

0.2

    Purchase of Investments

-0.1

-6.9

-8.0

-14.8

-7.3

    Other Investing Cash Flow

-0.4

0.1

0.6

0.0

-0.2

Other Investing Cash Flow Items, Total

9.4

6.3

3.5

1.1

2.6

Cash from Investing Activities

-39.4

-26.9

-32.8

-77.9

-47.4

 

 

 

 

 

 

    Other Financing Cash Flow

-6.8

-4.7

-4.4

-2.6

-0.7

Financing Cash Flow Items

-6.8

-4.7

-4.4

-2.6

-0.7

    Cash Dividends Paid - Common

-2.2

0.0

-0.4

-3.7

-3.3

Total Cash Dividends Paid

-2.2

0.0

-0.4

-3.7

-3.3

        Repurchase/Retirement of Common

-

0.0

0.0

0.0

0.0

    Common Stock, Net

-

0.0

0.0

0.0

0.0

Issuance (Retirement) of Stock, Net

-

0.0

0.0

0.0

0.0

        Short Term Debt Issued

7.6

29.7

37.8

53.4

66.8

        Short Term Debt Reduction

-

-38.8

-30.3

-77.4

-32.5

    Short Term Debt, Net

7.6

-9.1

7.4

-24.1

34.3

        Long Term Debt Issued

31.7

33.6

49.5

113.9

35.0

        Long Term Debt Reduction

-62.6

-42.0

-38.5

-33.3

-32.9

    Long Term Debt, Net

-30.9

-8.4

11.0

80.6

2.1

Issuance (Retirement) of Debt, Net

-23.3

-17.6

18.4

56.6

36.4

Cash from Financing Activities

-32.2

-22.3

13.7

50.2

32.3

 

 

 

 

 

 

Foreign Exchange Effects

-1.6

-2.4

0.2

-7.5

1.3

Net Change in Cash

-6.3

5.2

7.5

24.0

7.5

 

 

 

 

 

 

Net Cash - Beginning Balance

101.1

87.9

-

39.0

22.0

Net Cash - Ending Balance

94.8

93.1

-

63.1

29.5

Cash Interest Paid

5.4

5.0

-

5.4

4.2

Cash Taxes Paid

11.3

4.6

-

6.2

7.9

 

 

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,047.4

930.8

702.1

874.8

861.4

Total Revenue

1,047.4

930.8

702.1

874.8

861.4

 

 

 

 

 

 

    Cost of Sales

902.7

801.0

635.3

781.9

743.1

    Selling&Gen.&Admin. Expenses

112.1

-

-

-

-

    Allowance for Bonuses

-

2.8

1.8

2.4

1.8

    Provision for Doubtful Accounts

-

-

0.0

0.1

0.1

    Accrued Retirement Expenses

-

1.0

0.9

0.6

0.5

    Salaries & Bonuses

-

28.5

26.4

28.1

27.6

    Shipping exp.

-

22.4

15.3

17.5

15.6

    Other SGA Expenses

-

43.7

43.4

49.0

45.9

    SP Rev. Doubt. Acct.

0.0

-0.1

0.0

-0.2

-0.1

    SP Governmental Subsidy

-

-

0.0

-1.0

0.0

    SP Insurance Income

-33.5

0.0

-

-

-

    SP Other Special Gain

0.0

0.0

-0.1

0.0

-0.1

    SP Val. Loss-Inv. Sec.

0.1

1.6

0.0

0.1

9.4

    SP Impairment Loss

4.1

0.0

0.7

1.1

0.0

    SP Business structure improment exp.

0.6

2.7

11.1

0.0

-

    SP Product Warranty Expenses

-

-

-

-

0.0

    SP Loss on Disaster

25.9

0.9

0.0

-

-

    SP Other Special Loss

0.0

0.8

0.5

0.2

1.3

    NOP Amortization of negative goodwill

-

-

0.0

0.0

-0.3

Total Operating Expense

1,012.1

905.5

735.3

879.8

844.9

 

 

 

 

 

 

    SP Gain-Fixed Asset Sale

0.2

0.2

0.4

0.0

0.3

    SP Gain-Inv. Sec. Sale

0.0

0.0

0.2

0.0

-

    SP Loss-Fixed Asset Sale

-0.5

-0.7

-0.6

-0.9

-1.4

    SP Loss-Liquid of Affiliates

-

-

-

-

0.0

    NOP Interest Income

0.8

0.5

0.4

0.3

0.0

    NOP Dividends Income

1.0

0.7

0.7

0.9

0.8

    NOP Gain-Equity Method

-

-

-

-

0.0

    NOP Rent Income

2.6

2.7

2.5

2.8

1.8

    NOP Subsidy Income

-

0.0

1.4

0.0

-

    NOP Exchange Gain

-

-

-

-

0.0

    NOP Income on Sale of Scraps

-

2.0

1.7

1.6

-

    NOP Other Non-op. Income

4.2

1.9

1.5

3.4

4.1

    NOP Interest Expense

-5.4

-5.0

-5.3

-5.4

-4.1

    NOP Loss-Equity Method

-0.1

-0.2

-0.3

-1.0

-2.2

    NOP Rental Expenses

-

-1.4

-1.0

-0.9

-

    NOP Acct. Change-Pension

-2.5

-2.3

-2.1

-1.9

-1.7

    NOP Exchange Loss

-4.8

-4.9

-0.8

-7.5

-3.8

    NOP Other Non-op.Expense

-2.5

-0.8

-1.3

-1.3

-2.6

Net Income Before Taxes

28.4

17.9

-35.6

-15.0

7.5

 

 

 

 

 

 

Provision for Income Taxes

3.4

4.9

13.1

5.9

7.1

Net Income After Taxes

25.0

13.0

-48.8

-20.9

0.4

 

 

 

 

 

 

    Minority Interest

-4.7

-2.0

-1.1

-3.8

-3.1

Net Income Before Extra. Items

20.4

11.0

-49.9

-24.7

-2.7

Net Income

20.4

11.0

-49.9

-24.7

-2.7

 

 

 

 

 

 

    Earning Adjustment

-0.1

0.0

0.0

0.0

0.0

Income Available to Com Excl ExtraOrd

20.3

11.0

-49.9

-24.7

-2.8

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

20.3

11.0

-49.9

-24.7

-2.8

 

 

 

 

 

 

Basic Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Basic EPS Excluding ExtraOrdinary Items

0.60

0.32

-1.47

-0.73

-0.08

Basic EPS Including ExtraOrdinary Item

0.60

0.32

-1.47

-0.73

-0.08

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

20.3

11.0

-49.9

-24.7

-2.8

Diluted Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Diluted EPS Excluding ExtraOrd Items

0.60

0.32

-1.47

-0.73

-0.08

Diluted EPS Including ExtraOrd Items

0.60

0.32

-1.47

-0.73

-0.08

DPS-Common Stock

0.06

0.06

0.00

0.01

0.10

Gross Dividends - Common Stock

2.1

2.0

0.0

0.3

3.3

Normalized Income Before Taxes

26.8

23.2

-24.0

-15.5

18.9

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

3.1

6.2

16.9

5.7

11.2

Normalized Income After Taxes

23.7

17.0

-40.9

-21.2

7.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

19.0

15.0

-42.1

-25.1

4.6

 

 

 

 

 

 

Basic Normalized EPS

0.56

0.44

-1.24

-0.74

0.14

Diluted Normalized EPS

0.56

0.44

-1.24

-0.74

0.14

Research and Development

16.0

12.0

10.7

13.9

12.6

Interest Expense

5.4

5.0

5.3

5.4

4.1

Depreciation

46.4

45.1

45.1

40.3

31.3

Amort of goodwill

0.8

0.8

0.9

0.0

-

Amortization of negative goodwill

-

-

0.0

0.0

-0.3

Reported Operating Profit

32.6

31.3

-20.9

-4.8

26.7

Reported Ordinary Profit

26.0

24.4

-23.5

-13.9

19.2

Service Cost

-

4.7

4.3

3.7

3.1

Interest Cost

-

2.2

2.0

1.7

1.5

Expected Return on Plan Asset

-

-1.1

-0.9

-1.0

-0.9

Pension Exp. due to Acct. Changes

-

2.3

2.1

1.9

1.7

Prior Service Cost

-

-1.3

-1.2

-1.1

-1.0

Actuarial Gains and Losses

-

2.0

1.9

0.9

0.5

Domestic Pension Plan Expense

-

8.6

8.1

6.2

4.9

Total Pension Expense

-

8.6

8.1

6.2

4.9

Discount Rate

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return

-

3.00%

3.00%

3.00%

3.00%

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

82.88

93.44

98.77

99.535

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Deposit

91.2

97.2

80.8

68.6

33.9

    Note & Account Receivable

210.5

196.6

171.8

142.4

205.1

    Inventories - merchandise&finished goods

72.1

73.6

50.7

61.9

66.8

    Inventories - work-in-process

32.7

40.0

30.0

29.9

36.1

    Inventories - raw materials&suppliers

18.3

15.8

11.6

15.9

15.7

    Dfd. Tax Assets

11.5

12.4

8.2

9.3

13.2

    Other Current Asset

52.0

19.6

16.0

17.7

19.9

    Allowance for Doubtful Account

-0.7

-0.8

-1.2

-0.9

-1.1

Total Current Assets

487.6

454.4

368.0

344.8

389.6

 

 

 

 

 

 

    Buildings & Structures

-

337.5

297.7

278.0

279.7

    Depreciation-Buildings & Structures

-

-216.6

-187.3

-170.1

-165.6

    Buildings and structures, net

113.2

-

-

-

-

    Machinery & Vehicles

-

460.7

406.7

389.8

393.6

    Depreciation- Machinery & Vehicles

-

-374.1

-321.2

-304.5

-303.5

    Machinery, equipment and vehicles, net

82.2

-

-

-

-

    Tool and Fixture

-

205.0

177.3

157.1

155.0

    Depreciation- Tools & Fixtures

-

-184.0

-155.7

-137.2

-139.3

    Tools, furniture and fixtures, net

18.9

-

-

-

-

    Land

-

156.0

139.2

132.0

131.3

    Land, net

154.9

-

-

-

-

    Construction-In-progress

-

16.4

12.7

29.6

19.3

    Construction-In-progress, net

21.4

-

-

-

-

    Goodwill

0.8

1.7

2.2

2.6

1.3

    Other Intangible

5.5

5.4

4.3

8.0

10.1

    Investment Sec.

45.8

38.8

57.3

42.2

58.0

    Equity secs.-nonconsolidated affil.-stk

-

6.7

-

-

-

    LT Loans

0.0

0.0

0.0

0.0

0.2

    Dfd. Tax Asset

19.2

14.8

13.1

22.6

16.0

    Other Asset

12.1

9.3

9.7

9.4

8.8

    Inv't partnership-nonconsol.affil.-other

-

4.1

-

-

-

    Doubtful Account

-1.9

-2.0

-2.2

-2.1

-2.0

Total Assets

959.9

934.0

822.0

802.3

852.5

 

 

 

 

 

 

    Note&Account Payable

144.3

133.8

101.7

93.7

130.5

    ST Borrowings

266.9

258.4

241.0

219.8

245.9

    Cur. Port. LTD

58.8

51.8

38.5

34.3

25.8

    Lease Liability

4.5

4.9

3.6

2.1

0.0

    Accounts Payable-other

-

13.2

8.6

-

-

    Other Payable

53.7

-

-

5.9

16.4

    Tax Payable

1.9

1.7

1.3

1.6

2.0

    Accrued Expense

-

19.4

16.6

12.9

19.2

    Accrued Bonus

13.7

14.1

9.4

11.5

14.2

    Provision for loss on disaster

2.4

0.0

-

-

-

    Other Curr.Liabs

5.2

9.4

3.5

14.2

7.0

Total Current Liabilities

551.3

506.7

424.3

395.9

461.0

 

 

 

 

 

 

    LT Borrowings

110.8

146.4

145.2

129.2

55.0

    Lease Liability

4.4

4.3

4.0

3.5

0.0

Total Long Term Debt

115.3

150.7

149.2

132.7

55.0

 

 

 

 

 

 

    Dfd. Tax Liabs.

4.1

4.1

2.8

2.6

4.6

    Reval.-Tax Liabs

31.8

35.8

31.7

30.0

29.8

    Accrued Retirem.

56.6

54.6

47.4

44.0

43.8

    Consolidated Adjustment

-

-

-

-

0.0

    Other LT Liabs.

8.0

8.0

7.4

7.0

7.2

    Minority Interest

23.4

21.9

18.5

16.6

19.7

Total Liabilities

790.5

781.8

681.4

628.9

621.1

 

 

 

 

 

 

    Common Stock

26.9

26.7

23.7

22.4

22.3

    Paid-In Capital

20.6

20.5

18.2

17.2

17.1

    Retained Earning

85.2

67.9

52.4

96.9

126.9

    Treasury Stock

-0.5

-0.5

-0.5

-0.4

-0.4

    Unreal. Gain-Securities

10.1

9.1

10.1

5.8

15.0

    Deferred Hedge

0.0

-0.5

0.2

0.1

-0.7

    Unreal.Gain-Land

59.6

54.3

48.2

45.6

45.2

    Translation Adjustment

-32.5

-25.3

-11.7

-14.2

6.0

Total Equity

169.4

152.2

140.6

173.5

231.3

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

959.9

933.9

821.9

802.3

852.5

 

 

 

 

 

 

    S/O-Common Stock

33.9

33.9

33.9

33.9

33.9

Total Common Shares Outstanding

33.9

33.9

33.9

33.9

33.9

T/S-Common Stock

0.2

0.2

0.1

0.1

0.1

Full-Time Employees

-

5,763

5,676

5,757

5,422

Number of Common Shareholders

-

4,053

4,113

4,250

4,232

Long Term Debt Maturing Within 1 Year

-

51.8

38.5

34.3

25.8

Long Term Debt Maturing Within 2 Year

-

54.5

40.4

29.6

17.1

Long Term Debt Maturing Within 3 Year

-

42.4

41.4

29.2

12.3

Long Term Debt Maturing Within 4 Year

-

28.5

31.4

28.3

10.2

Long Term Debt Maturing Within 5 Year

-

14.7

19.1

20.4

6.9

Long Term Debt Remaining Maturities

-

6.3

13.0

21.7

8.5

Total Long Term Debt, Supplemental

-

198.2

183.8

163.5

80.9

Capital Lease Payment within 1 year

-

4.9

3.6

2.1

-

Capital Lease Payment within 2 year

-

2.9

2.8

2.1

-

Capital Lease Payment within 3 year

-

1.1

1.1

1.3

-

Capital Lease Payment within 4 year

-

0.2

0.1

0.0

-

Capital Lease Payment within 5 year

-

0.1

0.0

0.0

-

Remaining

-

0.0

0.0

0.0

-

Total Capital Leases

-

9.2

7.7

5.6

-

Pension Obligation

-

111.0

101.4

94.2

89.0

Fair Value of Plan Asset

-

38.3

33.7

27.5

32.2

Funded Status

-

-72.7

-67.7

-66.8

-56.8

Total Funded Status

-

-72.7

-67.7

-66.8

-56.8

Discount Rate

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return

-

3.00%

3.00%

3.00%

3.00%

Expense Unrecog. for Acct. Changes

-

9.4

10.5

11.9

13.7

Unrecognized Prior Service Cost

-

-8.1

-8.5

-9.2

-10.3

Unrecognized Actuarial Gains and Losses

-

16.9

18.3

20.0

9.5

Accrued Pension Benefit

-

-54.6

-47.4

-44.0

-43.8

Net Assets Recognized on Balance Sheet

-

-36.4

-27.1

-21.3

-30.8

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Income Before Tax

28.4

17.9

-35.6

-15.0

7.5

    Depreciation

46.4

45.1

45.1

40.3

31.3

    Amortization of Negative Goodwill

-

-

0.0

0.0

-0.3

    Amortization of goodwill

0.8

0.8

0.9

0.0

-

    Insurance Income

-33.5

0.0

-

-

-

    Impairment Loss

4.1

0.0

0.7

1.1

-

    Gain/Loss-Equity

0.1

0.2

0.3

1.0

2.2

    Retirement Allowance

1.8

1.1

0.8

-0.1

-0.5

    Director Bnft. Allow

-

-

-

0.0

-

    Reserve for Bonuses

-

3.4

-2.7

-2.7

-1.1

    Doubtful Debt Allow.

-

-0.8

0.2

0.0

0.1

    Interest&Dividend Income

-1.9

-1.2

-1.1

-1.2

-0.8

    Interest Expense

5.4

5.0

5.3

5.4

4.1

    Gain-Fixed Asset Sold

-

-0.1

-0.3

0.0

-0.3

    Loss-Fixed Asset Sold

-

-

-

-

0.1

    Fixed Asset Retirement

-

0.6

0.5

0.9

1.4

    Business structure improvement expenses

0.6

2.7

11.1

0.0

-

    Loss on disaster

26.6

0.9

0.0

-

-

    Revaluation Membership

-

-

-

-

0.0

    Product Warranty

-

-

-

-

0.0

    Reval.-Inv. Security

0.1

1.6

0.0

0.1

9.4

    Accounts Receivable

-15.4

3.0

-19.3

51.5

0.6

    Other Receivables

-

2.2

2.6

1.3

-5.5

    Inventory

0.1

-24.9

24.8

3.8

-6.1

    Accounts Payable

12.7

1.9

10.2

-31.7

-3.8

    Director Bonus Paid

-

-

-

-

0.0

    Advances Paid

-

-

-

0.5

0.5

    Other Payable

1.7

1.5

-1.9

1.7

-8.3

    Other Opera. Activity

5.5

3.4

-6.1

12.4

1.9

    Interest & Dividend

1.6

2.1

1.0

1.6

0.7

    Interest Paid

-5.4

-5.0

-5.2

-5.4

-4.2

    Proceeds from insurance income

4.0

0.0

-

-

-

    Business structure improvement Paid

-0.1

0.0

-1.3

0.0

-

    Payments for loss on disaster

-5.5

0.0

-

-

-

    Taxes Paid

-11.3

-4.6

-3.5

-6.2

-7.9

    Consolidation Changes

-

-

-

-

0.0

    Adjustment

0.1

-

0.0

-

-

Cash from Operating Activities

66.9

56.9

26.4

59.2

21.2

 

 

 

 

 

 

    Time Deposit Made

-

-0.9

-1.5

-5.7

0.0

    Time Deposit Collected

0.6

6.0

0.8

1.3

0.1

    Capital Expenditures

-48.8

-32.0

-32.5

-77.4

-46.8

    Fixed Asset Sold

9.3

7.2

9.7

12.8

9.9

    Purch.-Invest. Sec.

-0.1

-1.6

-0.1

-0.1

-0.1

    Sale-Invest. Sec.

0.0

0.0

0.0

0.1

0.1

    Purch-Equity of Subsidiaries

0.0

-2.2

-6.5

-9.0

-3.7

    Sale-Equity of Sub.

-

0.0

0.4

1.7

0.0

    Closely-held investments made

0.0

-2.2

0.0

0.0

-3.5

    Purch.-Intangibles

-

-1.3

-3.7

-1.6

-3.2

    Loans Extended

-0.6

-0.3

-0.7

-0.5

-0.1

    Loans Recovered

0.5

0.6

0.5

0.5

0.3

    Other Inv. Activity

-0.3

-0.3

0.8

0.0

-0.4

Cash from Investing Activities

-39.4

-26.9

-32.8

-77.9

-47.4

 

 

 

 

 

 

    Proceed-ST Debt

7.6

29.7

37.8

53.4

66.8

    ST Debt Repaid

-

-38.8

-30.3

-77.4

-32.5

    Proceed-LT Debt

31.7

33.6

49.5

113.9

35.0

    LT Debt Repaid

-62.6

-42.0

-38.5

-33.3

-32.9

    Purch.-Treasury Stock

-

0.0

0.0

0.0

0.0

    Dividend Paid

-2.2

0.0

-0.4

-3.7

-3.3

    Div. Paid Minority

-1.2

-0.2

-1.5

-1.6

-0.7

    Other

-5.6

-4.5

-2.9

-1.0

0.0

    Adjustment

-

-

-

-

0.0

Cash from Financing Activities

-32.2

-22.3

13.7

50.2

32.3

 

 

 

 

 

 

Foreign Exchange Effects

-1.6

-2.4

0.2

-7.5

1.3

Net Change in Cash

-6.3

5.2

7.5

24.0

7.5

 

 

 

 

 

 

Net Cash - Beginning Balance

101.1

87.9

-

39.0

22.0

Net Cash - Ending Balance

94.8

93.1

-

63.1

29.5

    Cash Interest Paid

5.4

5.0

-

5.4

4.2

    Cash Taxes Paid

11.3

4.6

-

6.2

7.9

 

 

Financial Health

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

Key Indicators USD (mil)

 

Quarter
Ending
31-Mar-2012

Quarter
Ending
Yr Ago

Annual
Year End
31-Mar-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

269.8

7.60%

1,047.4

3.69%

-2.01%

-2.85%

Operating Income1

10.7

1,133.33%

35.3

28.56%

-

1.47%

Income Available to Common Excl Extraord Items1

15.9

405.22%

20.3

70.61%

-

2.98%

Basic EPS Excl Extraord Items1

0.47

405.26%

0.60

70.64%

-

3.02%

Capital Expenditures2

48.8

-

48.8

35.22%

-21.39%

-9.60%

Cash from Operating Activities2

66.9

-

66.9

8.41%

-3.87%

12.46%

Free Cash Flow

17.4

-

17.4

-29.33%

-

-

Total Assets3

959.9

2.16%

959.9

2.16%

-0.07%

-1.22%

Total Liabilities3

790.5

0.51%

790.5

0.51%

1.59%

1.91%

Total Long Term Debt3

115.3

-23.99%

115.3

-23.99%

-10.18%

17.94%

Total Common Shares Outstanding3

33.9

-0.01%

33.9

-0.01%

-0.02%

-0.03%

1-ExchangeRate: JPY to USD Average for Period

79.208816

 

78.961215

 

 

 

2-ExchangeRate: JPY to USD Average for Period

78.961215

 

78.961215

 

 

 

3-ExchangeRate: JPY to USD Period End Date

82.385362

 

82.385362

 

 

 

Key Ratios

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Profitability

Gross Margin

13.81%

13.94%

9.51%

10.62%

13.73%

Operating Margin

3.37%

2.72%

-4.72%

-0.57%

1.91%

Pretax Margin

2.71%

1.92%

-5.08%

-1.71%

0.87%

Net Profit Margin

1.94%

1.18%

-7.11%

-2.82%

-0.32%

Financial Strength

Current Ratio

0.88

0.90

0.87

0.87

0.85

Long Term Debt/Equity

0.68

0.99

1.06

0.76

0.24

Total Debt/Equity

2.63

3.06

3.08

2.24

1.41

Management Effectiveness

Return on Assets

2.52%

1.44%

-5.81%

-2.56%

0.05%

Return on Equity

12.06%

7.29%

-30.68%

-12.37%

-1.32%

Efficiency

Receivables Turnover

4.94

4.96

4.36

5.13

4.82

Inventory Turnover

6.83

7.09

6.13

7.00

7.42

Asset Turnover

1.06

1.03

0.84

1.07

1.17

Market Valuation USD (mil)

P/E (TTM)

3.60

.

Enterprise Value2

448.0

Price/Sales (TTM)

0.07

.

Enterprise Value/Revenue (TTM)

0.45

Price/Book (MRQ)

0.41

.

Enterprise Value/EBITDA (TTM)

5.66

Market Cap as of 08-Jun-20121

72.7

.

 

 

1-ExchangeRate: JPY to USD on 8-Jun-2012

79.606486

 

 

 

2-ExchangeRate: JPY to USD on 31-Mar-2012

82.385362

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Financial Strength

Current Ratio

0.88

0.90

0.87

0.87

0.85

Quick/Acid Test Ratio

0.55

0.58

0.59

0.53

0.52

Working Capital1

-63.7

-52.3

-56.4

-51.1

-71.4

Long Term Debt/Equity

0.68

0.99

1.06

0.76

0.24

Total Debt/Equity

2.63

3.06

3.08

2.24

1.41

Long Term Debt/Total Capital

0.19

0.24

0.26

0.24

0.10

Total Debt/Total Capital

0.72

0.75

0.75

0.69

0.59

Payout Ratio

10.58%

18.05%

0.00%

-1.37%

-117.76%

Effective Tax Rate

12.03%

27.55%

-

-

95.20%

Total Capital1

614.8

618.1

573.0

562.4

558.2

 

 

 

 

 

 

Efficiency

Asset Turnover

1.06

1.03

0.84

1.07

1.17

Inventory Turnover

6.83

7.09

6.13

7.00

7.42

Days In Inventory

53.45

51.48

59.56

52.14

49.16

Receivables Turnover

4.94

4.96

4.36

5.13

4.82

Days Receivables Outstanding

73.94

73.63

83.70

71.18

75.80

Revenue/Employee2

-

166,993

123,040

154,589

182,436

Operating Income/Employee2

-

4,545

-5,805

-888

3,480

EBITDA/Employee2

-

12,641

2,097

6,236

10,117

 

 

 

 

 

 

Profitability

Gross Margin

13.81%

13.94%

9.51%

10.62%

13.73%

Operating Margin

3.37%

2.72%

-4.72%

-0.57%

1.91%

EBITDA Margin

7.81%

7.57%

1.70%

4.03%

5.55%

EBIT Margin

3.37%

2.72%

-4.72%

-0.57%

1.91%

Pretax Margin

2.71%

1.92%

-5.08%

-1.71%

0.87%

Net Profit Margin

1.94%

1.18%

-7.11%

-2.82%

-0.32%

COGS/Revenue

86.19%

86.06%

90.49%

89.38%

86.27%

SG&A Expense/Revenue

10.70%

10.58%

12.50%

11.17%

10.63%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

2.52%

1.44%

-5.81%

-2.56%

0.05%

Return on Equity

12.06%

7.29%

-30.68%

-12.37%

-1.32%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

0.51

0.72

-0.29

-0.59

-0.97

Operating Cash Flow/Share 2

1.89

1.74

0.77

1.78

0.72

1-ExchangeRate: JPY to USD Period End Date

82.385362

82.88

93.44

98.77

99.535

2-ExchangeRate: JPY to USD Average for Period

82.385362

82.88

93.44

98.77

99.535

 

Current Market Multiples

Market Cap/Earnings (TTM)

3.61

Market Cap/Equity (MRQ)

0.41

Market Cap/Revenue (TTM)

0.07

Market Cap/EBIT (TTM)

2.07

Market Cap/EBITDA (TTM)

0.89

Enterprise Value/Earnings (TTM)

23.04

Enterprise Value/Equity (MRQ)

2.64

Enterprise Value/Revenue (TTM)

0.45

Enterprise Value/EBIT (TTM)

13.22

Enterprise Value/EBITDA (TTM)

5.66

 

 

Annual Income Statement

Standardized

 

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 
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,047.4

930.8

702.1

874.8

861.4

Revenue

1,047.4

930.8

702.1

874.8

861.4

Total Revenue

1,047.4

930.8

702.1

874.8

861.4

 

 

 

 

 

 

    Cost of Revenue

902.7

801.0

635.3

781.9

743.1

Cost of Revenue, Total

902.7

801.0

635.3

781.9

743.1

Gross Profit

144.7

129.8

66.8

92.9

118.3

 

 

 

 

 

 

    Selling/General/Administrative Expense

112.1

66.1

58.7

66.6

61.6

    Labor & Related Expense

-

32.4

29.1

31.1

29.9

Total Selling/General/Administrative Expenses

112.1

98.5

87.8

97.7

91.5

    Amortization of Acquisition Costs

-

-

0.0

0.0

-0.3

Depreciation/Amortization

-

-

0.0

0.0

-0.3

    Restructuring Charge

0.6

2.7

11.1

0.0

-

    Impairment-Assets Held for Use

4.1

0.0

0.7

1.1

0.0

    Impairment-Assets Held for Sale

0.1

1.6

0.0

0.1

9.4

    Other Unusual Expense (Income)

-7.6

1.6

0.4

-1.0

1.1

Unusual Expense (Income)

-2.8

5.9

12.2

0.2

10.5

Total Operating Expense

1,012.1

905.5

735.3

879.8

844.9

 

 

 

 

 

 

Operating Income

35.3

25.3

-33.1

-5.0

16.4

 

 

 

 

 

 

        Interest Expense - Non-Operating

-5.4

-5.0

-5.3

-5.4

-4.1

    Interest Expense, Net Non-Operating

-5.4

-5.0

-5.3

-5.4

-4.1

        Interest Income - Non-Operating

0.8

0.5

0.4

0.3

0.0

        Investment Income - Non-Operating

-4.0

-4.4

-0.2

-7.6

-5.2

    Interest/Investment Income - Non-Operating

-3.1

-4.0

0.2

-7.3

-5.2

Interest Income (Expense) - Net Non-Operating Total

-8.5

-9.0

-5.0

-12.7

-9.4

Gain (Loss) on Sale of Assets

-0.3

1.4

1.5

0.7

-1.2

    Other Non-Operating Income (Expense)

1.9

0.1

1.1

2.0

1.6

Other, Net

1.9

0.1

1.1

2.0

1.6

Income Before Tax

28.4

17.9

-35.6

-15.0

7.5

 

 

 

 

 

 

Total Income Tax

3.4

4.9

13.1

5.9

7.1

Income After Tax

25.0

13.0

-48.8

-20.9

0.4

 

 

 

 

 

 

    Minority Interest

-4.7

-2.0

-1.1

-3.8

-3.1

Net Income Before Extraord Items

20.4

11.0

-49.9

-24.7

-2.7

Net Income

20.4

11.0

-49.9

-24.7

-2.7

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-0.1

0.0

0.0

0.0

0.0

Total Adjustments to Net Income

-0.1

0.0

0.0

0.0

0.0

Income Available to Common Excl Extraord Items

20.3

11.0

-49.9

-24.7

-2.8

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

20.3

11.0

-49.9

-24.7

-2.8

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Basic EPS Excl Extraord Items

0.60

0.32

-1.47

-0.73

-0.08

Basic/Primary EPS Incl Extraord Items

0.60

0.32

-1.47

-0.73

-0.08

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

20.3

11.0

-49.9

-24.7

-2.8

Diluted Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Diluted EPS Excl Extraord Items

0.60

0.32

-1.47

-0.73

-0.08

Diluted EPS Incl Extraord Items

0.60

0.32

-1.47

-0.73

-0.08

Dividends per Share - Common Stock Primary Issue

0.06

0.06

0.00

0.01

0.10

Gross Dividends - Common Stock

2.1

2.0

0.0

0.3

3.3

Interest Expense, Supplemental

5.4

5.0

5.3

5.4

4.1

Depreciation, Supplemental

46.4

45.1

45.1

40.3

31.3

Total Special Items

-1.6

5.3

11.6

-0.6

11.5

Normalized Income Before Tax

26.8

23.2

-24.0

-15.5

18.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-0.3

1.2

3.7

-0.2

4.1

Inc Tax Ex Impact of Sp Items

3.1

6.2

16.9

5.7

11.2

Normalized Income After Tax

23.7

17.0

-40.9

-21.2

7.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

19.0

15.0

-42.1

-25.1

4.6

 

 

 

 

 

 

Basic Normalized EPS

0.56

0.44

-1.24

-0.74

0.14

Diluted Normalized EPS

0.56

0.44

-1.24

-0.74

0.14

Amort of Acquisition Costs, Supplemental

0.8

0.8

0.9

0.0

-0.3

Research & Development Exp, Supplemental

16.0

12.0

10.7

13.9

12.6

Reported Operating Profit

32.6

31.3

-20.9

-4.8

26.7

Reported Ordinary Profit

26.0

24.4

-23.5

-13.9

19.2

Normalized EBIT

32.6

31.3

-20.9

-4.8

27.0

Normalized EBITDA

79.9

77.2

25.0

35.5

58.0

Interest Cost - Domestic

-

2.2

2.0

1.7

1.5

Service Cost - Domestic

-

4.7

4.3

3.7

3.1

Prior Service Cost - Domestic

-

-1.3

-1.2

-1.1

-1.0

Expected Return on Assets - Domestic

-

-1.1

-0.9

-1.0

-0.9

Actuarial Gains and Losses - Domestic

-

2.0

1.9

0.9

0.5

Transition Costs - Domestic

-

2.3

2.1

1.9

1.7

Domestic Pension Plan Expense

-

8.6

8.1

6.2

4.9

Total Pension Expense

-

8.6

8.1

6.2

4.9

Discount Rate - Domestic

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

-

3.00%

3.00%

3.00%

3.00%

Total Plan Interest Cost

-

2.2

2.0

1.7

1.5

Total Plan Service Cost

-

4.7

4.3

3.7

3.1

Total Plan Expected Return

-

-1.1

-0.9

-1.0

-0.9

 

 

 

Interim Income Statement

Standarized

 

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 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

79.208816

77.302742

77.752043

81.605269

82.241044

 

 

 

 

 

 

    Net Sales

269.8

277.3

266.8

234.8

241.5

Revenue

269.8

277.3

266.8

234.8

241.5

Total Revenue

269.8

277.3

266.8

234.8

241.5

 

 

 

 

 

 

    Cost of Revenue

234.6

239.3

230.0

199.9

210.1

Cost of Revenue, Total

234.6

239.3

230.0

199.9

210.1

Gross Profit

35.1

38.0

36.8

34.9

31.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

29.8

28.5

28.2

25.7

16.6

    Labor & Related Expense

-

-

-

-

9.2

Total Selling/General/Administrative Expenses

29.8

28.5

28.2

25.7

25.8

    Impairment-Assets Held for Use

-

-

-

-

0.0

    Impairment-Assets Held for Sale

-

-

-

-

0.3

    Other Unusual Expense (Income)

-5.4

2.0

0.2

0.5

4.5

Unusual Expense (Income)

-5.4

2.0

0.2

0.5

4.7

Total Operating Expense

259.0

269.8

258.3

226.1

240.6

 

 

 

 

 

 

Operating Income

10.7

7.4

8.4

8.7

0.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-1.4

-1.4

-1.4

-1.2

-1.3

    Interest Expense, Net Non-Operating

-1.4

-1.4

-1.4

-1.2

-1.3

        Interest Income - Non-Operating

0.2

0.2

0.3

0.2

0.2

        Investment Income - Non-Operating

2.6

-0.6

-4.9

-1.1

-0.5

    Interest/Investment Income - Non-Operating

2.8

-0.4

-4.6

-0.9

-0.3

Interest Income (Expense) - Net Non-Operating Total

1.4

-1.8

-6.0

-2.1

-1.6

Gain (Loss) on Sale of Assets

-0.3

0.6

0.5

0.3

0.3

    Other Non-Operating Income (Expense)

0.3

0.8

-0.1

-0.4

0.3

Other, Net

0.3

0.8

-0.1

-0.4

0.3

Income Before Tax

12.1

7.0

2.8

6.5

-0.1

 

 

 

 

 

 

Total Income Tax

-6.8

5.2

1.7

3.5

-3.8

Income After Tax

18.9

1.8

1.1

3.1

3.7

 

 

 

 

 

 

    Minority Interest

-3.0

-0.6

-0.4

-0.7

-0.7

Net Income Before Extraord Items

15.9

1.2

0.7

2.4

2.9

Net Income

15.9

1.2

0.7

2.4

2.9

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-0.1

0.0

-

0.0

0.1

Total Adjustments to Net Income

-0.1

0.0

-

0.0

0.1

Income Available to Common Excl Extraord Items

15.9

1.2

0.7

2.4

3.0

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

15.9

1.2

0.7

2.4

3.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Basic EPS Excl Extraord Items

0.47

0.04

0.02

0.07

0.09

Basic/Primary EPS Incl Extraord Items

0.47

0.04

0.02

0.07

0.09

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

15.9

1.2

0.7

2.4

3.0

Diluted Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Diluted EPS Excl Extraord Items

0.47

0.04

0.02

0.07

0.09

Diluted EPS Incl Extraord Items

0.47

0.04

0.02

0.07

0.09

Dividends per Share - Common Stock Primary Issue

0.06

0.00

0.00

0.00

0.06

Gross Dividends - Common Stock

2.1

0.0

0.0

0.0

2.1

Interest Expense, Supplemental

1.4

1.4

1.4

1.2

1.3

Depreciation, Supplemental

12.0

12.0

11.5

10.9

12.3

Total Special Items

-4.9

1.7

-0.1

0.4

4.6

Normalized Income Before Tax

7.2

8.7

2.7

6.9

4.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-1.8

0.5

-0.2

0.1

1.6

Inc Tax Ex Impact of Sp Items

-8.6

5.7

1.5

3.5

-2.2

Normalized Income After Tax

15.8

3.0

1.2

3.3

6.8

 

 

 

 

 

 

Normalized Inc. Avail to Com.

12.8

2.4

0.8

2.6

6.1

 

 

 

 

 

 

Basic Normalized EPS

0.38

0.07

0.02

0.08

0.18

Diluted Normalized EPS

0.38

0.07

0.02

0.08

0.18

Amort of Acquisition Costs, Supplemental

0.2

0.2

0.2

0.2

0.2

Reported Operating Profit

5.4

9.5

8.6

9.2

5.6

Reported Ordinary Profit

7.0

9.0

3.0

7.0

4.9

Normalized EBIT

5.4

9.5

8.6

9.2

5.6

Normalized EBITDA

17.6

21.7

20.3

20.3

18.0

 

 

 

Annual Balance Sheet

Standardized

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

82.88

93.44

98.77

99.535

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

91.2

97.2

80.8

68.6

33.9

Cash and Short Term Investments

91.2

97.2

80.8

68.6

33.9

        Accounts Receivable - Trade, Gross

210.5

196.6

171.8

142.4

205.1

        Provision for Doubtful Accounts

-0.7

-0.8

-1.2

-0.9

-1.1

    Trade Accounts Receivable - Net

209.7

195.8

170.7

141.5

204.0

Total Receivables, Net

209.7

195.8

170.7

141.5

204.0

    Inventories - Finished Goods

72.1

73.6

50.7

61.9

66.8

    Inventories - Work In Progress

32.7

40.0

30.0

29.9

36.1

    Inventories - Raw Materials

18.3

15.8

11.6

15.9

15.7

Total Inventory

123.2

129.4

92.4

107.7

118.7

    Deferred Income Tax - Current Asset

11.5

12.4

8.2

9.3

13.2

    Other Current Assets

52.0

19.6

16.0

17.7

19.9

Other Current Assets, Total

63.5

32.0

24.1

27.0

33.1

Total Current Assets

487.6

454.4

368.0

344.8

389.6

 

 

 

 

 

 

        Buildings

-

337.5

297.7

278.0

279.7

        Land/Improvements

-

156.0

139.2

132.0

131.3

        Machinery/Equipment

-

665.7

584.1

547.0

548.6

        Construction in Progress

-

16.4

12.7

29.6

19.3

    Property/Plant/Equipment - Gross

-

1,175.5

1,033.7

986.5

978.8

    Accumulated Depreciation

-

-774.7

-664.2

-611.8

-608.3

Property/Plant/Equipment - Net

390.7

400.8

369.5

374.7

370.5

Goodwill, Net

0.8

1.7

2.2

2.6

1.3

Intangibles, Net

5.5

5.4

4.3

8.0

10.1

    LT Investment - Affiliate Companies

-

10.8

-

-

-

    LT Investments - Other

45.8

38.8

57.3

42.2

58.0

Long Term Investments

45.8

49.6

57.3

42.2

58.0

Note Receivable - Long Term

0.0

0.0

0.0

0.0

0.2

    Deferred Income Tax - Long Term Asset

19.2

14.8

13.1

22.6

16.0

    Other Long Term Assets

10.2

7.3

7.5

7.4

6.8

Other Long Term Assets, Total

29.3

22.1

20.7

29.9

22.8

Total Assets

959.9

934.0

822.0

802.3

852.5

 

 

 

 

 

 

Accounts Payable

144.3

133.8

101.7

93.7

130.5

Accrued Expenses

16.0

33.5

26.0

24.3

33.3

Notes Payable/Short Term Debt

266.9

258.4

241.0

219.8

245.9

Current Portion - Long Term Debt/Capital Leases

63.3

56.7

42.2

36.4

25.8

    Income Taxes Payable

1.9

1.7

1.3

1.6

2.0

    Other Payables

53.7

13.2

8.6

5.9

16.4

    Other Current Liabilities

5.2

9.4

3.5

14.2

7.0

Other Current liabilities, Total

60.8

24.3

13.4

21.6

25.4

Total Current Liabilities

551.3

506.7

424.3

395.9

461.0

 

 

 

 

 

 

    Long Term Debt

110.8

146.4

145.2

129.2

55.0

    Capital Lease Obligations

4.4

4.3

4.0

3.5

0.0

Total Long Term Debt

115.3

150.7

149.2

132.7

55.0

Total Debt

445.4

465.9

432.5

388.9

326.8

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

35.9

39.8

34.5

32.6

34.4

Deferred Income Tax

35.9

39.8

34.5

32.6

34.4

Minority Interest

23.4

21.9

18.5

16.6

19.7

    Pension Benefits - Underfunded

56.6

54.6

47.4

44.0

43.8

    Other Long Term Liabilities

8.0

8.0

7.4

7.0

7.2

Other Liabilities, Total

64.6

62.6

54.8

51.1

51.0

Total Liabilities

790.5

781.8

681.4

628.9

621.1

 

 

 

 

 

 

    Common Stock

26.9

26.7

23.7

22.4

22.3

Common Stock

26.9

26.7

23.7

22.4

22.3

Additional Paid-In Capital

20.6

20.5

18.2

17.2

17.1

Retained Earnings (Accumulated Deficit)

85.2

67.9

52.4

96.9

126.9

Treasury Stock - Common

-0.5

-0.5

-0.5

-0.4

-0.4

Unrealized Gain (Loss)

69.7

62.9

58.4

51.5

59.6

    Translation Adjustment

-32.5

-25.3

-11.7

-14.2

6.0

Other Equity, Total

-32.5

-25.3

-11.7

-14.2

6.0

Total Equity

169.4

152.2

140.6

173.5

231.3

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

959.9

933.9

821.9

802.3

852.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

33.9

33.9

33.9

33.9

33.9

Total Common Shares Outstanding

33.9

33.9

33.9

33.9

33.9

Treasury Shares - Common Stock Primary Issue

0.2

0.2

0.1

0.1

0.1

Employees

-

5,763

5,676

5,757

5,422

Number of Common Shareholders

-

4,053

4,113

4,250

4,232

Total Long Term Debt, Supplemental

-

198.2

183.8

163.5

80.9

Long Term Debt Maturing within 1 Year

-

51.8

38.5

34.3

25.8

Long Term Debt Maturing in Year 2

-

54.5

40.4

29.6

17.1

Long Term Debt Maturing in Year 3

-

42.4

41.4

29.2

12.3

Long Term Debt Maturing in Year 4

-

28.5

31.4

28.3

10.2

Long Term Debt Maturing in Year 5

-

14.7

19.1

20.4

6.9

Long Term Debt Maturing in 2-3 Years

-

96.9

81.8

58.8

29.3

Long Term Debt Maturing in 4-5 Years

-

43.3

50.4

48.6

17.1

Long Term Debt Matur. in Year 6 & Beyond

-

6.3

13.0

21.7

8.5

Total Capital Leases, Supplemental

-

9.2

7.7

5.6

-

Capital Lease Payments Due in Year 1

-

4.9

3.6

2.1

-

Capital Lease Payments Due in Year 2

-

2.9

2.8

2.1

-

Capital Lease Payments Due in Year 3

-

1.1

1.1

1.3

-

Capital Lease Payments Due in Year 4

-

0.2

0.1

0.0

-

Capital Lease Payments Due in Year 5

-

0.1

0.0

0.0

-

Capital Lease Payments Due in 2-3 Years

-

4.0

3.9

3.4

-

Capital Lease Payments Due in 4-5 Years

-

0.2

0.1

0.1

-

Cap. Lease Pymts. Due in Year 6 & Beyond

-

0.0

0.0

0.0

-

Pension Obligation - Domestic

-

111.0

101.4

94.2

89.0

Plan Assets - Domestic

-

38.3

33.7

27.5

32.2

Funded Status - Domestic

-

-72.7

-67.7

-66.8

-56.8

Total Funded Status

-

-72.7

-67.7

-66.8

-56.8

Discount Rate - Domestic

-

2.00%

2.00%

2.00%

2.00%

Pension Payment Rate - Foreign

-

3.00%

3.00%

3.00%

3.00%

Accrued Liabilities - Domestic

-

-54.6

-47.4

-44.0

-43.8

Other Assets, Net - Domestic

-

18.2

20.3

22.7

13.0

Net Assets Recognized on Balance Sheet

-

-36.4

-27.1

-21.3

-30.8

Total Plan Obligations

-

111.0

101.4

94.2

89.0

Total Plan Assets

-

38.3

33.7

27.5

32.2

 

 

 Interim Balance Sheet

Standardized

 

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 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

76.94

77.08

80.76

82.88

 

 

 

 

 

 

    Cash & Equivalents

91.2

87.1

67.3

84.4

97.2

Cash and Short Term Investments

91.2

87.1

67.3

84.4

97.2

        Accounts Receivable - Trade, Gross

210.5

223.0

215.5

196.5

196.6

        Provision for Doubtful Accounts

-0.7

-0.9

-0.9

-0.8

-0.8

    Trade Accounts Receivable - Net

209.7

222.1

214.6

195.7

195.8

Total Receivables, Net

209.7

222.1

214.6

195.7

195.8

    Inventories - Finished Goods

72.1

78.2

79.5

74.9

73.6

    Inventories - Work In Progress

32.7

41.7

40.6

42.8

40.0

    Inventories - Raw Materials

18.3

18.2

19.4

18.2

15.8

Total Inventory

123.2

138.2

139.6

135.9

129.4

    Other Current Assets

63.5

37.2

36.8

34.2

32.0

Other Current Assets, Total

63.5

37.2

36.8

34.2

32.0

Total Current Assets

487.6

484.5

458.3

450.2

454.4

 

 

 

 

 

 

        Buildings

-

-

-

-

337.5

        Land/Improvements

-

-

-

-

156.0

        Machinery/Equipment

-

-

-

-

665.7

        Construction in Progress

-

-

-

-

16.4

    Property/Plant/Equipment - Gross

-

-

-

-

1,175.5

    Accumulated Depreciation

-

-

-

-

-774.7

Property/Plant/Equipment - Net

390.7

427.8

432.8

412.7

400.8

Goodwill, Net

0.8

1.1

1.3

1.5

1.7

Intangibles, Net

5.5

5.4

5.5

5.6

5.4

    Other Long Term Assets

75.1

73.7

77.0

76.7

71.7

Other Long Term Assets, Total

75.1

73.7

77.0

76.7

71.7

Total Assets

959.9

992.5

975.0

946.6

934.0

 

 

 

 

 

 

Accounts Payable

144.3

148.3

134.9

125.5

133.8

Accrued Expenses

16.0

7.4

12.3

7.5

14.1

Notes Payable/Short Term Debt

266.9

282.9

294.7

266.0

258.4

Current Portion - Long Term Debt/Capital Leases

63.3

65.1

59.4

60.6

56.7

    Income Taxes Payable

1.9

1.8

2.2

2.6

1.7

    Other Current Liabilities

58.9

59.0

50.8

60.9

42.0

Other Current liabilities, Total

60.8

60.7

53.0

63.4

43.7

Total Current Liabilities

551.3

564.4

554.3

523.1

506.7

 

 

 

 

 

 

    Long Term Debt

110.8

133.7

120.7

130.7

146.4

    Capital Lease Obligations

4.4

-

-

-

4.3

Total Long Term Debt

115.3

133.7

120.7

130.7

150.7

Total Debt

445.4

481.8

474.8

457.3

465.9

 

 

 

 

 

 

Minority Interest

23.4

22.4

23.1

22.6

21.9

    Pension Benefits - Underfunded

56.6

60.2

59.5

56.5

54.6

    Other Long Term Liabilities

43.9

52.6

56.1

54.0

47.9

Other Liabilities, Total

100.5

112.8

115.6

110.5

102.4

Total Liabilities

790.5

833.4

813.8

786.9

781.8

 

 

 

 

 

 

    Common Stock

26.9

28.8

28.7

27.4

26.7

Common Stock

26.9

28.8

28.7

27.4

26.7

Additional Paid-In Capital

20.6

22.1

22.1

21.1

20.5

Retained Earnings (Accumulated Deficit)

85.2

75.4

74.1

70.0

67.9

Treasury Stock - Common

-0.5

-0.6

-0.6

-0.6

-0.5

Unrealized Gain (Loss)

69.7

71.2

66.1

64.6

62.9

    Translation Adjustment

-32.5

-37.8

-29.1

-22.8

-25.3

Other Equity, Total

-32.5

-37.8

-29.1

-22.8

-25.3

Total Equity

169.4

159.1

161.2

159.7

152.2

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

959.9

992.5

975.0

946.6

934.0

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

33.9

33.9

33.9

33.9

33.9

Total Common Shares Outstanding

33.9

33.9

33.9

33.9

33.9

Treasury Shares - Common Stock Primary Issue

0.2

0.2

0.2

0.2

0.2

Employees

-

-

-

-

5,763

 

 

 

Annual Cash Flows

Standardized

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

28.4

17.9

-35.6

-15.0

7.5

    Depreciation

46.4

45.1

45.1

40.3

31.3

Depreciation/Depletion

46.4

45.1

45.1

40.3

31.3

    Amortization of Acquisition Costs

0.8

0.8

0.9

0.0

-0.3

Amortization

0.8

0.8

0.9

0.0

-0.3

    Unusual Items

30.9

3.1

0.9

2.0

10.6

    Equity in Net Earnings (Loss)

0.1

0.2

0.3

1.0

2.2

    Other Non-Cash Items

-28.1

4.1

5.2

4.1

2.9

Non-Cash Items

2.9

7.5

6.4

7.2

15.7

    Accounts Receivable

-15.4

5.2

-16.7

52.8

-4.9

    Inventories

0.1

-24.9

24.8

3.8

-6.1

    Prepaid Expenses

-

-

-

0.5

0.5

    Accounts Payable

14.4

3.4

8.3

-30.0

-12.0

    Accrued Expenses

-

3.4

-2.7

-2.7

-1.1

    Other Operating Cash Flow

-10.7

-1.4

-4.0

2.4

-9.4

Changes in Working Capital

-11.6

-14.3

9.7

26.7

-33.1

Cash from Operating Activities

66.9

56.9

26.4

59.2

21.2

 

 

 

 

 

 

    Purchase of Fixed Assets

-48.8

-32.0

-32.5

-77.4

-46.8

    Purchase/Acquisition of Intangibles

-

-1.3

-3.7

-1.6

-3.2

Capital Expenditures

-48.8

-33.3

-36.2

-79.0

-50.0

    Sale of Fixed Assets

9.3

7.2

9.7

12.8

9.9

    Sale/Maturity of Investment

0.6

6.0

1.2

3.2

0.2

    Purchase of Investments

-0.1

-6.9

-8.0

-14.8

-7.3

    Other Investing Cash Flow

-0.4

0.1

0.6

0.0

-0.2

Other Investing Cash Flow Items, Total

9.4

6.3

3.5

1.1

2.6

Cash from Investing Activities

-39.4

-26.9

-32.8

-77.9

-47.4

 

 

 

 

 

 

    Other Financing Cash Flow

-6.8

-4.7

-4.4

-2.6

-0.7

Financing Cash Flow Items

-6.8

-4.7

-4.4

-2.6

-0.7

    Cash Dividends Paid - Common

-2.2

0.0

-0.4

-3.7

-3.3

Total Cash Dividends Paid

-2.2

0.0

-0.4

-3.7

-3.3

        Repurchase/Retirement of Common

-

0.0

0.0

0.0

0.0

    Common Stock, Net

-

0.0

0.0

0.0

0.0

Issuance (Retirement) of Stock, Net

-

0.0

0.0

0.0

0.0

        Short Term Debt Issued

7.6

29.7

37.8

53.4

66.8

        Short Term Debt Reduction

-

-38.8

-30.3

-77.4

-32.5

    Short Term Debt, Net

7.6

-9.1

7.4

-24.1

34.3

        Long Term Debt Issued

31.7

33.6

49.5

113.9

35.0

        Long Term Debt Reduction

-62.6

-42.0

-38.5

-33.3

-32.9

    Long Term Debt, Net

-30.9

-8.4

11.0

80.6

2.1

Issuance (Retirement) of Debt, Net

-23.3

-17.6

18.4

56.6

36.4

Cash from Financing Activities

-32.2

-22.3

13.7

50.2

32.3

 

 

 

 

 

 

Foreign Exchange Effects

-1.6

-2.4

0.2

-7.5

1.3

Net Change in Cash

-6.3

5.2

7.5

24.0

7.5

 

 

 

 

 

 

Net Cash - Beginning Balance

101.1

87.9

-

39.0

22.0

Net Cash - Ending Balance

94.8

93.1

-

63.1

29.5

Cash Interest Paid

5.4

5.0

-

5.4

4.2

Cash Taxes Paid

11.3

4.6

-

6.2

7.9

 

 

 

Interim Cash Flows

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2012

30-Sep-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

12 Months

6 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
30-Sep-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

79.672811

85.691434

86.812446

88.962162

 

 

 

 

 

 

Net Income/Starting Line

28.4

9.4

17.9

17.7

12.3

    Depreciation

46.4

22.4

45.1

32.9

21.2

Depreciation/Depletion

46.4

22.4

45.1

32.9

21.2

    Amortization of Acquisition Costs

0.8

0.4

0.8

0.6

0.4

Amortization

0.8

0.4

0.8

0.6

0.4

    Unusual Items

30.9

0.7

3.1

1.7

0.2

    Equity in Net Earnings (Loss)

0.1

0.3

0.2

0.2

0.1

    Other Non-Cash Items

-28.1

2.0

4.1

3.3

2.0

Non-Cash Items

2.9

3.0

7.5

5.3

2.3

    Accounts Receivable

-15.4

-5.2

5.2

-17.6

-12.0

    Inventories

0.1

-0.8

-24.9

-22.1

-12.7

    Prepaid Expenses

-

0.2

-

-0.2

-0.9

    Accounts Payable

14.4

-8.4

3.4

22.5

12.6

    Accrued Expenses

-

-2.7

3.4

-2.6

1.4

    Other Operating Cash Flow

-10.7

-13.1

-1.4

-0.6

-5.6

Changes in Working Capital

-11.6

-29.9

-14.3

-20.6

-17.1

Cash from Operating Activities

66.9

5.2

56.9

35.9

19.2

 

 

 

 

 

 

    Purchase of Fixed Assets

-48.8

-22.7

-32.0

-23.2

-13.3

    Purchase/Acquisition of Intangibles

-

-0.3

-1.3

-0.4

-0.2

Capital Expenditures

-48.8

-23.0

-33.3

-23.6

-13.5

    Sale of Fixed Assets

9.3

4.9

7.2

6.0

3.9

    Sale/Maturity of Investment

0.6

0.9

6.0

1.2

1.2

    Purchase of Investments

-0.1

-0.3

-6.9

-4.3

-2.7

    Other Investing Cash Flow

-0.4

-0.6

0.1

-0.1

-0.2

Other Investing Cash Flow Items, Total

9.4

4.9

6.3

2.8

2.2

Cash from Investing Activities

-39.4

-18.1

-26.9

-20.8

-11.3

 

 

 

 

 

 

    Other Financing Cash Flow

-6.8

-3.7

-4.7

-3.4

-2.3

Financing Cash Flow Items

-6.8

-3.7

-4.7

-3.4

-2.3

    Cash Dividends Paid - Common

-2.2

-2.1

0.0

0.0

0.0

Total Cash Dividends Paid

-2.2

-2.1

0.0

0.0

0.0

        Repurchase/Retirement of Common

-

0.0

0.0

0.0

0.0

    Common Stock, Net

-

0.0

0.0

0.0

0.0

Issuance (Retirement) of Stock, Net

-

0.0

0.0

0.0

0.0

        Short Term Debt Issued

7.6

20.9

29.7

31.6

7.4

        Short Term Debt Reduction

-

-5.2

-38.8

-17.2

-15.4

    Short Term Debt, Net

7.6

15.7

-9.1

14.4

-8.0

        Long Term Debt Issued

31.7

0.0

33.6

3.2

3.2

        Long Term Debt Reduction

-62.6

-32.1

-42.0

-31.7

-20.5

    Long Term Debt, Net

-30.9

-32.1

-8.4

-28.5

-17.3

Issuance (Retirement) of Debt, Net

-23.3

-16.4

-17.6

-14.1

-25.3

Cash from Financing Activities

-32.2

-22.2

-22.3

-17.6

-27.7

 

 

 

 

 

 

Foreign Exchange Effects

-1.6

-0.3

-2.4

-2.0

-0.6

Net Change in Cash

-6.3

-35.4

5.2

-4.5

-20.4

 

 

 

 

 

 

Net Cash - Beginning Balance

101.1

100.2

87.9

81.0

79.0

Net Cash - Ending Balance

94.8

64.8

93.1

76.5

58.6

Cash Interest Paid

5.4

2.6

5.0

3.7

2.5

Cash Taxes Paid

11.3

5.9

4.6

4.0

2.0

 

Annual Income Statement

As Reported

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,047.4

930.8

702.1

874.8

861.4

Total Revenue

1,047.4

930.8

702.1

874.8

861.4

 

 

 

 

 

 

    Cost of Sales

902.7

801.0

635.3

781.9

743.1

    Selling&Gen.&Admin. Expenses

112.1

-

-

-

-

    Allowance for Bonuses

-

2.8

1.8

2.4

1.8

    Provision for Doubtful Accounts

-

-

0.0

0.1

0.1

    Accrued Retirement Expenses

-

1.0

0.9

0.6

0.5

    Salaries & Bonuses

-

28.5

26.4

28.1

27.6

    Shipping exp.

-

22.4

15.3

17.5

15.6

    Other SGA Expenses

-

43.7

43.4

49.0

45.9

    SP Rev. Doubt. Acct.

0.0

-0.1

0.0

-0.2

-0.1

    SP Governmental Subsidy

-

-

0.0

-1.0

0.0

    SP Insurance Income

-33.5

0.0

-

-

-

    SP Other Special Gain

0.0

0.0

-0.1

0.0

-0.1

    SP Val. Loss-Inv. Sec.

0.1

1.6

0.0

0.1

9.4

    SP Impairment Loss

4.1

0.0

0.7

1.1

0.0

    SP Business structure improment exp.

0.6

2.7

11.1

0.0

-

    SP Product Warranty Expenses

-

-

-

-

0.0

    SP Loss on Disaster

25.9

0.9

0.0

-

-

    SP Other Special Loss

0.0

0.8

0.5

0.2

1.3

    NOP Amortization of negative goodwill

-

-

0.0

0.0

-0.3

Total Operating Expense

1,012.1

905.5

735.3

879.8

844.9

 

 

 

 

 

 

    SP Gain-Fixed Asset Sale

0.2

0.2

0.4

0.0

0.3

    SP Gain-Inv. Sec. Sale

0.0

0.0

0.2

0.0

-

    SP Loss-Fixed Asset Sale

-0.5

-0.7

-0.6

-0.9

-1.4

    SP Loss-Liquid of Affiliates

-

-

-

-

0.0

    NOP Interest Income

0.8

0.5

0.4

0.3

0.0

    NOP Dividends Income

1.0

0.7

0.7

0.9

0.8

    NOP Gain-Equity Method

-

-

-

-

0.0

    NOP Rent Income

2.6

2.7

2.5

2.8

1.8

    NOP Subsidy Income

-

0.0

1.4

0.0

-

    NOP Exchange Gain

-

-

-

-

0.0

    NOP Income on Sale of Scraps

-

2.0

1.7

1.6

-

    NOP Other Non-op. Income

4.2

1.9

1.5

3.4

4.1

    NOP Interest Expense

-5.4

-5.0

-5.3

-5.4

-4.1

    NOP Loss-Equity Method

-0.1

-0.2

-0.3

-1.0

-2.2

    NOP Rental Expenses

-

-1.4

-1.0

-0.9

-

    NOP Acct. Change-Pension

-2.5

-2.3

-2.1

-1.9

-1.7

    NOP Exchange Loss

-4.8

-4.9

-0.8

-7.5

-3.8

    NOP Other Non-op.Expense

-2.5

-0.8

-1.3

-1.3

-2.6

Net Income Before Taxes

28.4

17.9

-35.6

-15.0

7.5

 

 

 

 

 

 

Provision for Income Taxes

3.4

4.9

13.1

5.9

7.1

Net Income After Taxes

25.0

13.0

-48.8

-20.9

0.4

 

 

 

 

 

 

    Minority Interest

-4.7

-2.0

-1.1

-3.8

-3.1

Net Income Before Extra. Items

20.4

11.0

-49.9

-24.7

-2.7

Net Income

20.4

11.0

-49.9

-24.7

-2.7

 

 

 

 

 

 

    Earning Adjustment

-0.1

0.0

0.0

0.0

0.0

Income Available to Com Excl ExtraOrd

20.3

11.0

-49.9

-24.7

-2.8

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

20.3

11.0

-49.9

-24.7

-2.8

 

 

 

 

 

 

Basic Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Basic EPS Excluding ExtraOrdinary Items

0.60

0.32

-1.47

-0.73

-0.08

Basic EPS Including ExtraOrdinary Item

0.60

0.32

-1.47

-0.73

-0.08

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

20.3

11.0

-49.9

-24.7

-2.8

Diluted Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Diluted EPS Excluding ExtraOrd Items

0.60

0.32

-1.47

-0.73

-0.08

Diluted EPS Including ExtraOrd Items

0.60

0.32

-1.47

-0.73

-0.08

DPS-Common Stock

0.06

0.06

0.00

0.01

0.10

Gross Dividends - Common Stock

2.1

2.0

0.0

0.3

3.3

Normalized Income Before Taxes

26.8

23.2

-24.0

-15.5

18.9

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

3.1

6.2

16.9

5.7

11.2

Normalized Income After Taxes

23.7

17.0

-40.9

-21.2

7.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

19.0

15.0

-42.1

-25.1

4.6

 

 

 

 

 

 

Basic Normalized EPS

0.56

0.44

-1.24

-0.74

0.14

Diluted Normalized EPS

0.56

0.44

-1.24

-0.74

0.14

Research and Development

16.0

12.0

10.7

13.9

12.6

Interest Expense

5.4

5.0

5.3

5.4

4.1

Depreciation

46.4

45.1

45.1

40.3

31.3

Amort of goodwill

0.8

0.8

0.9

0.0

-

Amortization of negative goodwill

-

-

0.0

0.0

-0.3

Reported Operating Profit

32.6

31.3

-20.9

-4.8

26.7

Reported Ordinary Profit

26.0

24.4

-23.5

-13.9

19.2

Service Cost

-

4.7

4.3

3.7

3.1

Interest Cost

-

2.2

2.0

1.7

1.5

Expected Return on Plan Asset

-

-1.1

-0.9

-1.0

-0.9

Pension Exp. due to Acct. Changes

-

2.3

2.1

1.9

1.7

Prior Service Cost

-

-1.3

-1.2

-1.1

-1.0

Actuarial Gains and Losses

-

2.0

1.9

0.9

0.5

Domestic Pension Plan Expense

-

8.6

8.1

6.2

4.9

Total Pension Expense

-

8.6

8.1

6.2

4.9

Discount Rate

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return

-

3.00%

3.00%

3.00%

3.00%

 

 

Interim Income Statement

As Reported

 

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 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

79.208816

77.302742

77.752043

81.605269

82.241044

 

 

 

 

 

 

    Net sales

269.8

277.3

266.8

234.8

241.5

Total Revenue

269.8

277.3

266.8

234.8

241.5

 

 

 

 

 

 

    Cost of Sales

234.6

239.3

230.0

199.9

210.1

    Total SGA

29.8

28.5

28.2

25.7

-

    Accrued Retirement Expenses

-

-

-

-

0.3

    Salaries & Bonuses

-

-

-

-

9.0

    Transportation fees

-

-

-

-

6.6

    Other SGA Expenses

-

-

-

-

10.0

    SP Reversal-Doubtful Account Allowance

0.0

0.0

0.0

0.0

-

    SP Other Special Gain

-33.4

0.0

0.0

0.0

0.0

    SP Valuation Loss-Inv. Sec.

-

-

-

-

0.3

    SP Res. Doubt. Acct.

-

-

-

-

0.1

    SP Impairment Loss

-

-

-

-

0.0

    SP Loss on Disaster

25.2

0.0

0.1

0.4

-

    SP Other Special Loss

2.8

2.0

0.0

0.0

4.4

Total Operating Expense

259.0

269.8

258.3

226.1

240.6

 

 

 

 

 

 

    SP Gain-Fixed Asset Sale

0.1

0.1

0.1

0.0

0.1

    SP Loss-Fixed Asset Sale/retire

-0.3

-0.1

-0.1

-0.1

-0.4

    NOP Interest Income

0.2

0.2

0.3

0.2

0.2

    NOP Dividends Income

0.3

0.3

0.0

0.4

0.2

    NOP Gain-Equity Method

-

0.2

-

-

-

    NOP Rent Income

0.6

0.6

0.7

0.6

0.7

    NOP Exchange Gain

2.3

-

-

-

-

    NOP Gain on sales of scraps

-

0.5

0.5

0.4

0.5

    NOP Subsidy Income

-

-

-

-

0.0

    NOP Other Non-op. Income

0.7

1.1

0.8

0.4

0.8

    NOP Interest Expense

-1.4

-1.4

-1.4

-1.2

-1.3

    NOP Loss-Equity Method

0.0

-

0.0

-0.2

0.0

    NOP Acct. Change-Pension

-0.6

-0.6

-0.6

-0.6

-0.6

    NOP Exchange Loss

-

-1.0

-4.9

-1.3

-0.7

    NOP Other Non-op.Expense

-0.4

-0.3

-0.9

-0.8

-0.5

Net Income Before Taxes

12.1

7.0

2.8

6.5

-0.1

 

 

 

 

 

 

Provision for Income Taxes

-6.8

5.2

1.7

3.5

-3.8

Net Income After Taxes

18.9

1.8

1.1

3.1

3.7

 

 

 

 

 

 

    Minority Interest

-3.0

-0.6

-0.4

-0.7

-0.7

Net Income Before Extra. Items

15.9

1.2

0.7

2.4

2.9

Net Income

15.9

1.2

0.7

2.4

2.9

 

 

 

 

 

 

    Earning Adjustment

-0.1

0.0

-

0.0

0.1

Income Available to Com Excl ExtraOrd

15.9

1.2

0.7

2.4

3.0

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

15.9

1.2

0.7

2.4

3.0

 

 

 

 

 

 

Basic Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Basic EPS Excluding ExtraOrdinary Items

0.47

0.04

0.02

0.07

0.09

Basic EPS Including ExtraOrdinary Item

0.47

0.04

0.02

0.07

0.09

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

15.9

1.2

0.7

2.4

3.0

Diluted Weighted Average Shares

33.9

33.9

33.9

33.9

33.9

Diluted EPS Excluding ExtraOrd Items

0.47

0.04

0.02

0.07

0.09

Diluted EPS Including ExtraOrd Items

0.47

0.04

0.02

0.07

0.09

DPS-Common Stock

0.06

0.00

0.00

0.00

0.06

Gross Dividends - Common Stock

2.1

0.0

0.0

0.0

2.1

Normalized Income Before Taxes

7.2

8.7

2.7

6.9

4.5

Inc Tax Ex Impact of Sp Items

-8.6

5.7

1.5

3.5

-2.2

Normalized Income After Taxes

15.8

3.0

1.2

3.3

6.8

Normalized Inc. Avail to Com.

12.8

2.4

0.8

2.6

6.1

 

 

 

 

 

 

Basic Normalized EPS

0.38

0.07

0.02

0.08

0.18

Diluted Normalized EPS

0.38

0.07

0.02

0.08

0.18

Interest Expense

1.4

1.4

1.4

1.2

1.3

Depreciation

12.0

12.0

11.5

10.9

12.3

Amort of Goodwill

0.2

0.2

0.2

0.2

0.2

Reported Operating Profit

5.4

9.5

8.6

9.2

5.6

Reported Ordinary Profit

7.0

9.0

3.0

7.0

4.9

 

Annual Balance Sheet

As Reported

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

82.88

93.44

98.77

99.535

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Deposit

91.2

97.2

80.8

68.6

33.9

    Note & Account Receivable

210.5

196.6

171.8

142.4

205.1

    Inventories - merchandise&finished goods

72.1

73.6

50.7

61.9

66.8

    Inventories - work-in-process

32.7

40.0

30.0

29.9

36.1

    Inventories - raw materials&suppliers

18.3

15.8

11.6

15.9

15.7

    Dfd. Tax Assets

11.5

12.4

8.2

9.3

13.2

    Other Current Asset

52.0

19.6

16.0

17.7

19.9

    Allowance for Doubtful Account

-0.7

-0.8

-1.2

-0.9

-1.1

Total Current Assets

487.6

454.4

368.0

344.8

389.6

 

 

 

 

 

 

    Buildings & Structures

-

337.5

297.7

278.0

279.7

    Depreciation-Buildings & Structures

-

-216.6

-187.3

-170.1

-165.6

    Buildings and structures, net

113.2

-

-

-

-

    Machinery & Vehicles

-

460.7

406.7

389.8

393.6

    Depreciation- Machinery & Vehicles

-

-374.1

-321.2

-304.5

-303.5

    Machinery, equipment and vehicles, net

82.2

-

-

-

-

    Tool and Fixture

-

205.0

177.3

157.1

155.0

    Depreciation- Tools & Fixtures

-

-184.0

-155.7

-137.2

-139.3

    Tools, furniture and fixtures, net

18.9

-

-

-

-

    Land

-

156.0

139.2

132.0

131.3

    Land, net

154.9

-

-

-

-

    Construction-In-progress

-

16.4

12.7

29.6

19.3

    Construction-In-progress, net

21.4

-

-

-

-

    Goodwill

0.8

1.7

2.2

2.6

1.3

    Other Intangible

5.5

5.4

4.3

8.0

10.1

    Investment Sec.

45.8

38.8

57.3

42.2

58.0

    Equity secs.-nonconsolidated affil.-stk

-

6.7

-

-

-

    LT Loans

0.0

0.0

0.0

0.0

0.2

    Dfd. Tax Asset

19.2

14.8

13.1

22.6

16.0

    Other Asset

12.1

9.3

9.7

9.4

8.8

    Inv't partnership-nonconsol.affil.-other

-

4.1

-

-

-

    Doubtful Account

-1.9

-2.0

-2.2

-2.1

-2.0

Total Assets

959.9

934.0

822.0

802.3

852.5

 

 

 

 

 

 

    Note&Account Payable

144.3

133.8

101.7

93.7

130.5

    ST Borrowings

266.9

258.4

241.0

219.8

245.9

    Cur. Port. LTD

58.8

51.8

38.5

34.3

25.8

    Lease Liability

4.5

4.9

3.6

2.1

0.0

    Accounts Payable-other

-

13.2

8.6

-

-

    Other Payable

53.7

-

-

5.9

16.4

    Tax Payable

1.9

1.7

1.3

1.6

2.0

    Accrued Expense

-

19.4

16.6

12.9

19.2

    Accrued Bonus

13.7

14.1

9.4

11.5

14.2

    Provision for loss on disaster

2.4

0.0

-

-

-

    Other Curr.Liabs

5.2

9.4

3.5

14.2

7.0

Total Current Liabilities

551.3

506.7

424.3

395.9

461.0

 

 

 

 

 

 

    LT Borrowings

110.8

146.4

145.2

129.2

55.0

    Lease Liability

4.4

4.3

4.0

3.5

0.0

Total Long Term Debt

115.3

150.7

149.2

132.7

55.0

 

 

 

 

 

 

    Dfd. Tax Liabs.

4.1

4.1

2.8

2.6

4.6

    Reval.-Tax Liabs

31.8

35.8

31.7

30.0

29.8

    Accrued Retirem.

56.6

54.6

47.4

44.0

43.8

    Consolidated Adjustment

-

-

-

-

0.0

    Other LT Liabs.

8.0

8.0

7.4

7.0

7.2

    Minority Interest

23.4

21.9

18.5

16.6

19.7

Total Liabilities

790.5

781.8

681.4

628.9

621.1

 

 

 

 

 

 

    Common Stock

26.9

26.7

23.7

22.4

22.3

    Paid-In Capital

20.6

20.5

18.2

17.2

17.1

    Retained Earning

85.2

67.9

52.4

96.9

126.9

    Treasury Stock

-0.5

-0.5

-0.5

-0.4

-0.4

    Unreal. Gain-Securities

10.1

9.1

10.1

5.8

15.0

    Deferred Hedge

0.0

-0.5

0.2

0.1

-0.7

    Unreal.Gain-Land

59.6

54.3

48.2

45.6

45.2

    Translation Adjustment

-32.5

-25.3

-11.7

-14.2

6.0

Total Equity

169.4

152.2

140.6

173.5

231.3

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

959.9

933.9

821.9

802.3

852.5

 

 

 

 

 

 

    S/O-Common Stock

33.9

33.9

33.9

33.9

33.9

Total Common Shares Outstanding

33.9

33.9

33.9

33.9

33.9

T/S-Common Stock

0.2

0.2

0.1

0.1

0.1

Full-Time Employees

-

5,763

5,676

5,757

5,422

Number of Common Shareholders

-

4,053

4,113

4,250

4,232

Long Term Debt Maturing Within 1 Year

-

51.8

38.5

34.3

25.8

Long Term Debt Maturing Within 2 Year

-

54.5

40.4

29.6

17.1

Long Term Debt Maturing Within 3 Year

-

42.4

41.4

29.2

12.3

Long Term Debt Maturing Within 4 Year

-

28.5

31.4

28.3

10.2

Long Term Debt Maturing Within 5 Year

-

14.7

19.1

20.4

6.9

Long Term Debt Remaining Maturities

-

6.3

13.0

21.7

8.5

Total Long Term Debt, Supplemental

-

198.2

183.8

163.5

80.9

Capital Lease Payment within 1 year

-

4.9

3.6

2.1

-

Capital Lease Payment within 2 year

-

2.9

2.8

2.1

-

Capital Lease Payment within 3 year

-

1.1

1.1

1.3

-

Capital Lease Payment within 4 year

-

0.2

0.1

0.0

-

Capital Lease Payment within 5 year

-

0.1

0.0

0.0

-

Remaining

-

0.0

0.0

0.0

-

Total Capital Leases

-

9.2

7.7

5.6

-

Pension Obligation

-

111.0

101.4

94.2

89.0

Fair Value of Plan Asset

-

38.3

33.7

27.5

32.2

Funded Status

-

-72.7

-67.7

-66.8

-56.8

Total Funded Status

-

-72.7

-67.7

-66.8

-56.8

Discount Rate

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return

-

3.00%

3.00%

3.00%

3.00%

Expense Unrecog. for Acct. Changes

-

9.4

10.5

11.9

13.7

Unrecognized Prior Service Cost

-

-8.1

-8.5

-9.2

-10.3

Unrecognized Actuarial Gains and Losses

-

16.9

18.3

20.0

9.5

Accrued Pension Benefit

-

-54.6

-47.4

-44.0

-43.8

Net Assets Recognized on Balance Sheet

-

-36.4

-27.1

-21.3

-30.8

 

 

 

Interim Balance Sheet

As Reported

 

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 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

76.94

77.08

80.76

82.88

 

 

 

 

 

 

    Cash & Deposit

91.2

87.1

67.3

84.4

97.2

    Note & Account Receivable

210.5

223.0

215.5

196.5

196.6

    Inventories - merchandise&finished goods

72.1

78.2

79.5

74.9

73.6

    Inventories - work-in-process

32.7

41.7

40.6

42.8

40.0

    Inventories - raw materials&supplies

18.3

18.2

19.4

18.2

15.8

    Other

63.5

37.2

36.8

34.2

32.0

    Allowance for Doubtful Account

-0.7

-0.9

-0.9

-0.8

-0.8

Total Current Assets

487.6

484.5

458.3

450.2

454.4

 

 

 

 

 

 

    Building&Structure, gross

-

-

-

-

337.5

    Building&Structure, depr

-

-

-

-

-216.6

    Machinery&Equipment&vehicles, gross

-

-

-

-

460.7

    Machinery&Equipment&vehicles, depr

-

-

-

-

-374.1

    Tool and Fixture, gross

-

-

-

-

205.0

    Tool and Fixture, depr.

-

-

-

-

-184.0

    Land

-

-

-

-

156.0

    Construction in Progress

-

-

-

-

16.4

    Buildings and structures, net

113.2

123.4

126.6

123.0

-

    Machinery, equipment and vehicles, net

82.2

89.8

89.5

88.1

-

    Tools, furniture and fixtures, net

18.9

19.8

21.1

21.8

-

    Land, net

154.9

167.3

167.7

160.3

-

    Construction in Progress, net

21.4

27.4

27.9

19.4

-

    Goodwill

0.8

1.1

1.3

1.5

1.7

    Other Intangible

5.5

5.4

5.5

5.6

5.4

    Investment and Other Assets

77.1

75.8

79.3

78.8

73.7

    Doubtful Account

-1.9

-2.1

-2.2

-2.1

-2.0

Total Assets

959.9

992.5

975.0

946.6

934.0

 

 

 

 

 

 

    Note &Account Payable

144.3

148.3

134.9

125.5

133.8

    ST Borrowings

266.9

282.9

294.7

266.0

258.4

    Cur. Port. LTD

58.8

65.1

59.4

60.6

51.8

    Lease Liability

4.5

-

-

-

4.9

    Tax Payable

1.9

1.8

2.2

2.6

1.7

    Accrued Bonus Allow.

13.7

7.4

12.3

7.5

14.1

    Provision for loss on disaster

2.4

-

-

-

0.0

    Other Current Liabilities

58.9

59.0

50.8

60.9

42.0

Total Current Liabilities

551.3

564.4

554.3

523.1

506.7

 

 

 

 

 

 

    LT Borrowings

110.8

133.7

120.7

130.7

146.4

    Lease Liability

4.4

-

-

-

4.3

Total Long Term Debt

115.3

133.7

120.7

130.7

150.7

 

 

 

 

 

 

    Accrued Retirement Benefit Allow

56.6

60.2

59.5

56.5

54.6

    Other LT Liabilities

43.9

52.6

56.1

54.0

47.9

    Minority Interest

23.4

22.4

23.1

22.6

21.9

Total Liabilities

790.5

833.4

813.8

786.9

781.8

 

 

 

 

 

 

    Common Stock

26.9

28.8

28.7

27.4

26.7

    Paid-In Capital

20.6

22.1

22.1

21.1

20.5

    Retained earnings

85.2

75.4

74.1

70.0

67.9

    Treasury Stock

-0.5

-0.6

-0.6

-0.6

-0.5

    Unreal. Gain-Sec

10.1

8.0

7.9

9.1

9.1

    Deferred Hedge

0.0

-0.1

-0.2

-0.2

-0.5

    Unreal. Gain-Land

59.6

63.3

58.4

55.8

54.3

    Translation Adjustment

-32.5

-37.8

-29.1

-22.8

-25.3

Total Equity

169.4

159.1

161.2

159.7

152.2

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

959.9

992.5

975.0

946.6

934.0

 

 

 

 

 

 

    S/O-Common Stock

33.9

33.9

33.9

33.9

33.9

Total Common Shares Outstanding

33.9

33.9

33.9

33.9

33.9

T/S-Common Stock

0.2

0.2

0.2

0.2

0.2

Full-Time Employees

-

-

-

-

5,763

 

 

 

Annual Cash Flows

As Reported

 

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 
31-Mar-2012

Updated Normal 
31-Mar-2011

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Nihombashi Corporation

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

Income Before Tax

28.4

17.9

-35.6

-15.0

7.5

    Depreciation

46.4

45.1

45.1

40.3

31.3

    Amortization of Negative Goodwill

-

-

0.0

0.0

-0.3

    Amortization of goodwill

0.8

0.8

0.9

0.0

-

    Insurance Income

-33.5

0.0

-

-

-

    Impairment Loss

4.1

0.0

0.7

1.1

-

    Gain/Loss-Equity

0.1

0.2

0.3

1.0

2.2

    Retirement Allowance

1.8

1.1

0.8

-0.1

-0.5

    Director Bnft. Allow

-

-

-

0.0

-

    Reserve for Bonuses

-

3.4

-2.7

-2.7

-1.1

    Doubtful Debt Allow.

-

-0.8

0.2

0.0

0.1

    Interest&Dividend Income

-1.9

-1.2

-1.1

-1.2

-0.8

    Interest Expense

5.4

5.0

5.3

5.4

4.1

    Gain-Fixed Asset Sold

-

-0.1

-0.3

0.0

-0.3

    Loss-Fixed Asset Sold

-

-

-

-

0.1

    Fixed Asset Retirement

-

0.6

0.5

0.9

1.4

    Business structure improvement expenses

0.6

2.7

11.1

0.0

-

    Loss on disaster

26.6

0.9

0.0

-

-

    Revaluation Membership

-

-

-

-

0.0

    Product Warranty

-

-

-

-

0.0

    Reval.-Inv. Security

0.1

1.6

0.0

0.1

9.4

    Accounts Receivable

-15.4

3.0

-19.3

51.5

0.6

    Other Receivables

-

2.2

2.6

1.3

-5.5

    Inventory

0.1

-24.9

24.8

3.8

-6.1

    Accounts Payable

12.7

1.9

10.2

-31.7

-3.8

    Director Bonus Paid

-

-

-

-

0.0

    Advances Paid

-

-

-

0.5

0.5

    Other Payable

1.7

1.5

-1.9

1.7

-8.3

    Other Opera. Activity

5.5

3.4

-6.1

12.4

1.9

    Interest & Dividend

1.6

2.1

1.0

1.6

0.7

    Interest Paid

-5.4

-5.0

-5.2

-5.4

-4.2

    Proceeds from insurance income

4.0

0.0

-

-

-

    Business structure improvement Paid

-0.1

0.0

-1.3

0.0

-

    Payments for loss on disaster

-5.5

0.0

-

-

-

    Taxes Paid

-11.3

-4.6

-3.5

-6.2

-7.9

    Consolidation Changes

-

-

-

-

0.0

    Adjustment

0.1

-

0.0

-

-

Cash from Operating Activities

66.9

56.9

26.4

59.2

21.2

    Time Deposit Made

-

-0.9

-1.5

-5.7

0.0

    Time Deposit Collected

0.6

6.0

0.8

1.3

0.1

    Capital Expenditures

-48.8

-32.0

-32.5

-77.4

-46.8

    Fixed Asset Sold

9.3

7.2

9.7

12.8

9.9

    Purch.-Invest. Sec.

-0.1

-1.6

-0.1

-0.1

-0.1

    Sale-Invest. Sec.

0.0

0.0

0.0

0.1

0.1

    Purch-Equity of Subsidiaries

0.0

-2.2

-6.5

-9.0

-3.7

    Sale-Equity of Sub.

-

0.0

0.4

1.7

0.0

    Closely-held investments made

0.0

-2.2

0.0

0.0

-3.5

    Purch.-Intangibles

-

-1.3

-3.7

-1.6

-3.2

    Loans Extended

-0.6

-0.3

-0.7

-0.5

-0.1

    Loans Recovered

0.5

0.6

0.5

0.5

0.3

    Other Inv. Activity

-0.3

-0.3

0.8

0.0

-0.4

Cash from Investing Activities

-39.4

-26.9

-32.8

-77.9

-47.4

    Proceed-ST Debt

7.6

29.7

37.8

53.4

66.8

    ST Debt Repaid

-

-38.8

-30.3

-77.4

-32.5

    Proceed-LT Debt

31.7

33.6

49.5

113.9

35.0

    LT Debt Repaid

-62.6

-42.0

-38.5

-33.3

-32.9

    Purch.-Treasury Stock

-

0.0

0.0

0.0

0.0

    Dividend Paid

-2.2

0.0

-0.4

-3.7

-3.3

    Div. Paid Minority

-1.2

-0.2

-1.5

-1.6

-0.7

    Other

-5.6

-4.5

-2.9

-1.0

0.0

    Adjustment

-

-

-

-

0.0

Cash from Financing Activities

-32.2

-22.3

13.7

50.2

32.3

Foreign Exchange Effects

-1.6

-2.4

0.2

-7.5

1.3

Net Change in Cash

-6.3

5.2

7.5

24.0

7.5

Net Cash - Beginning Balance

101.1

87.9

-

39.0

22.0

Net Cash - Ending Balance

94.8

93.1

-

63.1

29.5

    Cash Interest Paid

5.4

5.0

-

5.4

4.2

    Cash Taxes Paid

11.3

4.6

-

6.2

7.9

 

Interim Cash Flows

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2012

30-Sep-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

12 Months

6 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
30-Sep-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

79.672811

85.691434

86.812446

88.962162

 

 

 

 

 

 

Income Before Tax

28.4

9.4

17.9

17.7

12.3

    Depreciation

46.4

22.4

45.1

32.9

21.2

    Amortization of goodwill

0.8

0.4

0.8

0.6

0.4

    Insurance Income

-33.5

-

0.0

-

-

    Impairment Loss

4.1

-

0.0

-

-

    Business structure improvement expenses

0.6

-

2.7

-

-

    Loss on disaster

26.6

0.6

0.9

-

0.0

    Gain/Loss-Equity Method

0.1

0.3

0.2

0.2

0.1

    Reserve for Retirement Benefit

1.8

0.8

1.1

1.0

0.9

    Allowance for Bonus

-

-2.7

3.4

-2.6

1.4

    Allowance for Doubtful Account

-

0.0

-0.8

-0.5

-0.3

    Interest & Dividend Income

-1.9

-0.9

-1.2

-0.8

-0.5

    Interest Expense

5.4

2.6

5.0

3.8

2.5

    G/L on val. LT inv't in secs.

0.1

-

1.6

1.4

-

    G/L on Sales of Stocks of Affiliates

-

-

-

0.0

0.0

    Exchange Gain/Loss

-

-0.5

-

-0.2

-0.5

    Gain-Fixed Asset Sold

-

-

-0.1

-

-

    Gain/Loss-Fixed Asset Sold/Retire

-

0.1

-

0.4

0.2

    Fixed Asset Retirement

-

-

0.6

-

-

    Accounts Receivable

-15.4

-3.7

3.0

-15.1

-11.0

    Other Receivable

-

-1.6

2.2

-2.5

-1.0

    Inventory

0.1

-0.8

-24.9

-22.1

-12.7

    Accounts Payable

12.7

-8.4

1.9

-

11.4

    Inc (Dec) other payables

1.7

0.1

1.5

0.0

1.2

    Other Opera.Activity

5.5

-4.8

3.4

5.0

-1.7

    Advance payments

-

0.2

-

-0.2

-0.9

    Inc (Dec) in acts & notes payable

-

-

-

22.5

-

    Interest & Dividend Received

1.6

0.5

2.1

2.1

0.6

    Interest Paid

-5.4

-2.6

-5.0

-3.7

-2.5

    Proceeds from insurance income

4.0

-

0.0

-

-

    Business structure improvement expenses

-0.1

-

0.0

-

-

    Payments for loss on disaster

-5.5

-0.3

-

-

0.0

    Taxes Paid

-11.3

-5.9

-4.6

-4.0

-2.0

    Adjustment

0.1

-

-

-

-0.1

Cash from Operating Activities

66.9

5.2

56.9

35.9

19.2

 

 

 

 

 

 

    Time Deposit Made

-

-0.3

-0.9

-0.4

-0.4

    Time Deposit Collected

0.6

0.9

6.0

1.2

1.2

    Capital Expenditures

-48.8

-22.7

-32.0

-23.2

-13.3

    PPE Sold

9.3

4.9

7.2

6.0

3.9

    Purch.-Intangibles

-

-0.3

-1.3

-0.4

-0.2

    Purch.-Invest. Sec.

-0.1

0.0

-1.6

-1.6

0.0

    Sale-Invest. Sec.

0.0

-

0.0

0.0

0.0

    Purchase of affiliates

0.0

0.0

-2.2

-0.1

-0.1

    Sale of affiliates

-

-

0.0

0.0

0.0

    Inv't partnership-nonconsol.affil. made

0.0

0.0

-2.2

-2.2

-2.1

    Loans Extended

-0.6

-0.5

-0.3

-0.2

-0.1

    Loans Recovered

0.5

0.1

0.6

0.4

0.2

    Other, net

-0.3

-0.2

-0.3

-0.2

-0.2

Cash from Investing Activities

-39.4

-18.1

-26.9

-20.8

-11.3

    Proceed-ST Debt

7.6

20.9

29.7

31.6

7.4

    ST Debt Repaid

-

-5.2

-38.8

-17.2

-15.4

    Proceed-LT Debt

31.7

0.0

33.6

3.2

3.2

    LT Debt Repaid

-62.6

-32.1

-42.0

-31.7

-20.5

    Purch.-Treasury Stock

-

0.0

0.0

0.0

0.0

    Dividend Paid

-2.2

-2.1

0.0

0.0

0.0

    Div. Paid Minority

-1.2

-1.0

-0.2

-0.2

-0.2

    Other, net

-5.6

-2.7

-4.5

-3.2

-2.1

Cash from Financing Activities

-32.2

-22.2

-22.3

-17.6

-27.7

 

 

 

 

 

 

Foreign Exchange Effects

-1.6

-0.3

-2.4

-2.0

-0.6

Net Change in Cash

-6.3

-35.4

5.2

-4.5

-20.4

 

 

 

 

 

 

Net Cash - Beginning Balance

101.1

100.2

87.9

81.0

79.0

Net Cash - Ending Balance

94.8

64.8

93.1

76.5

58.6

    Cash Interest Paid

5.4

2.6

5.0

3.7

2.5

    Cash Taxes Paid

11.3

5.9

4.6

4.0

2.0

 

Geographic Segments

 

Financials in: As Reported (mil)

Annual  

 

External Revenue   USD (mil)

 

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

31-Mar-06

Japan

491.0

69.9 %

624.6

71.4 %

653.6

75.9 %

638.6

78.2 %

591.5

78 %

North America

33.4

4.8 %

48.6

5.6 %

48.7

5.7 %

46.8

5.7 %

47.5

6.3 %

Europe

8.7

1.2 %

15.0

1.7 %

13.4

1.6 %

13.5

1.7 %

11.4

1.5 %

Asia

168.9

24.1 %

186.5

21.3 %

145.7

16.9 %

118.0

14.4 %

107.5

14.2 %

Segment Total

702.1

100 %

874.8

100 %

861.4

100 %

817.0

100 %

757.9

100 %

Eliminations/Corporate

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

702.1

100 %

874.8

100 %

861.4

100 %

817.0

100 %

757.9

100 %

Exchange Rate: JPY to USD

92.941082

 

100.484331

 

114.302336

 

116.944303

 

113.166257

 

Intersegment Revenue   USD (mil)

 

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

31-Mar-06

Japan

75.3

44 %

83.8

33.8 %

76.6

33 %

66.2

30.9 %

70.6

38.1 %

North America

76.5

44.7 %

118.8

48 %

124.5

53.6 %

118.2

55.2 %

89.8

48.4 %

Europe

1.2

0.7 %

2.0

0.8 %

2.0

0.8 %

1.1

0.5 %

0.7

0.4 %

Asia

18.2

10.6 %

43.1

17.4 %

29.2

12.6 %

28.7

13.4 %

24.4

13.1 %

Segment Total

171.1

100 %

247.7

100 %

232.3

100 %

214.1

100 %

185.4

100 %

Eliminations/Corporate

-171.1

-100 %

-247.7

-100 %

-232.3

-100 %

-214.1

-100 %

-185.4

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: JPY to USD

92.941082

 

100.484331

 

114.302336

 

116.944303

 

113.166257

 

 

Total Revenue   USD (mil)

 

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

31-Mar-06

Japan

566.3

64.9 %

708.4

63.1 %

730.2

66.8 %

704.7

68.3 %

662.1

70.2 %

North America

109.9

12.6 %

167.4

14.9 %

173.2

15.8 %

165.0

16 %

137.3

14.6 %

Europe

10.0

1.1 %

17.0

1.5 %

15.3

1.4 %

14.6

1.4 %

12.1

1.3 %

Asia

187.1

21.4 %

229.6

20.5 %

175.0

16 %

146.7

14.2 %

131.9

14 %

Segment Total

873.2

100 %

1,122.5

100 %

1,093.6

100 %

1,031.1

100 %

943.4

100 %

Eliminations/Corporate

-171.1

-19.6 %

-247.7

-22.1 %

-232.3

-21.2 %

-214.1

-20.8 %

-185.4

-19.7 %

Consolidated Total

702.1

80.4 %

874.8

77.9 %

861.4

78.8 %

817.0

79.2 %

757.9

80.3 %

Exchange Rate: JPY to USD

92.941082

 

100.484331

 

114.302336

 

116.944303

 

113.166257

 

Total Operating Expense   USD (mil)

 

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

31-Mar-06

Japan

594.6

66.8 %

730.2

65 %

716.0

67.2 %

686.6

68.4 %

642.3

70.9 %

North America

109.1

12.3 %

165.9

14.8 %

170.6

16 %

161.5

16.1 %

135.4

15 %

Europe

10.4

1.2 %

16.8

1.5 %

14.7

1.4 %

14.6

1.4 %

11.7

1.3 %

Asia

175.5

19.7 %

211.2

18.8 %

163.9

15.4 %

141.4

14.1 %

115.9

12.8 %

Segment Total

889.6

100 %

1,124.1

100 %

1,065.3

100 %

1,004.0

100 %

905.3

100 %

Eliminations/Corporate

-166.5

-18.7 %

-244.5

-21.7 %

-230.6

-21.6 %

-212.5

-21.2 %

-182.6

-20.2 %

Consolidated Total

723.1

81.3 %

879.6

78.3 %

834.7

78.4 %

791.4

78.8 %

722.7

79.8 %

Exchange Rate: JPY to USD

92.941082

 

100.484331

 

114.302336

 

116.944303

 

113.166257

 

 

Operating Income/Loss   USD (mil)

 

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

31-Mar-06

Japan

-28.3

172.6 %

-21.8

1,352.5 %

14.1

49.9 %

18.2

66.9 %

19.8

51.9 %

North America

0.8

-4.7 %

1.6

-98.8 %

2.6

9.1 %

3.5

13.1 %

1.9

4.9 %

Europe

-0.5

2.8 %

0.2

-13 %

0.6

2.1 %

0.1

0.3 %

0.4

1 %

Asia

11.6

-70.8 %

18.4

-1,140.7 %

11.0

39 %

5.4

19.7 %

16.0

42.1 %

Segment Total

-16.4

100 %

-1.6

100 %

28.4

100 %

27.2

100 %

38.1

100 %

Eliminations/Corporate

-4.6

27.9 %

-3.2

200.6 %

-1.7

-5.9 %

-1.6

-5.8 %

-2.8

-7.4 %

Consolidated Total

-20.9

127.9 %

-4.8

300.6 %

26.7

94.1 %

25.6

94.2 %

35.2

92.6 %

Exchange Rate: JPY to USD

92.941082

 

100.484331

 

114.302336

 

116.944303

 

113.166257

 

Operating Margin (%)  

 

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

31-Mar-06

Japan

-5.0

-

-3.1

-

1.9

-

2.6

-

3.0

-

North America

0.7

-

1.0

-

1.5

-

2.2

-

1.4

-

Europe

-4.6

-

1.2

-

3.8

-

0.5

-

3.3

-

Asia

6.2

-

8.0

-

6.3

-

3.7

-

12.2

-

Segment Total

-1.9

-

-0.1

-

2.6

-

2.6

-

4.0

-

Eliminations/Corporate

2.7

-

1.3

-

0.7

-

0.7

-

1.5

-

Consolidated Total

-3.0

-

-0.6

-

3.1

-

3.1

-

4.6

-

 

Total Assets   USD (mil)

 

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

31-Mar-06

Japan

712.0

74.7 %

704.1

75.6 %

720.2

76.8 %

609.7

78.6 %

576.7

78.4 %

North America

33.9

3.6 %

34.2

3.7 %

43.9

4.7 %

39.5

5.1 %

39.8

5.4 %

Europe

3.4

0.4 %

5.5

0.6 %

6.0

0.6 %

4.8

0.6 %

3.0

0.4 %

Asia

203.5

21.4 %

186.9

20.1 %

167.3

17.8 %

121.5

15.7 %

116.5

15.8 %

Segment Total

952.8

100 %

930.7

100 %

937.4

100 %

775.5

100 %

736.0

100 %

Eliminations/Corporate

-130.8

-13.7 %

-128.3

-13.8 %

-84.9

-9.1 %

-63.3

-8.2 %

-69.6

-9.5 %

Consolidated Total

822.0

86.3 %

802.4

86.2 %

852.6

90.9 %

712.2

91.8 %

666.4

90.5 %

Exchange Rate: JPY to USD

93.440000

 

98.770000

 

99.535000

 

118.075000

 

117.990000

 

Operating Return on Assets (%)  

 

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

31-Mar-06

Japan

-3.9

-

-3.2

-

2.3

-

3.0

-

3.3

-

North America

2.2

-

4.7

-

6.7

-

8.9

-

4.5

-

Europe

-13.4

-

3.8

-

11.2

-

1.6

-

12.9

-

Asia

5.7

-

10.0

-

7.6

-

4.4

-

13.2

-

Segment Total

-1.7

-

-0.2

-

3.5

-

3.5

-

5.0

-

Eliminations/Corporate

3.5

-

2.6

-

2.2

-

2.5

-

3.9

-

Consolidated Total

-2.5

-

-0.6

-

3.6

-

3.6

-

5.1

-

 

 

Geographic Segments

Financials in: As Reported (mil)

 

Interim             

        

 

External Revenue   USD (mil)

 

31-Mar-10

31-Dec-09

30-Sep-09

30-Jun-09

31-Mar-09

Japan

276.5

68.1 %

346.1

71 %

216.3

72.3 %

105.7

75 %

304.0

70.1 %

North America

18.1

4.5 %

25.4

5.2 %

15.4

5.1 %

7.0

4.9 %

25.3

5.8 %

Europe

4.4

1.1 %

6.2

1.3 %

4.3

1.4 %

2.4

1.7 %

9.4

2.2 %

Asia

106.8

26.3 %

109.8

22.5 %

63.4

21.2 %

25.8

18.3 %

95.2

21.9 %

Segment Total

405.8

100 %

487.5

100 %

299.4

100 %

140.9

100 %

433.9

100 %

Eliminations/Corporate

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

405.8

100 %

487.5

100 %

299.4

100 %

140.9

100 %

433.9

100 %

Exchange Rate: JPY to USD

90.324863

 

93.645436

 

95.546168

 

97.475000

 

94.889044

 

Intersegment Revenue   USD (mil)

 

31-Mar-10

31-Dec-09

30-Sep-09

30-Jun-09

31-Mar-09

Japan

44.0

52.4 %

51.4

40.2 %

31.6

36.3 %

13.3

31.4 %

36.1

27.9 %

North America

33.1

39.5 %

57.1

44.5 %

43.0

49.4 %

22.8

53.8 %

66.5

51.3 %

Europe

0.8

0.9 %

0.8

0.6 %

0.5

0.6 %

0.1

0.2 %

1.2

0.9 %

Asia

6.0

7.1 %

18.8

14.7 %

12.0

13.8 %

6.2

14.5 %

25.7

19.8 %

Segment Total

83.9

100 %

128.1

100 %

87.1

100 %

42.5

100 %

129.5

100 %

Eliminations/Corporate

-83.9

-100 %

-128.1

-100 %

-87.1

-100 %

-42.5

-100 %

-129.5

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: JPY to USD

90.324863

 

93.645436

 

95.546168

 

97.475000

 

94.889044

 

 

Total Revenue   USD (mil)

 

31-Mar-10

31-Dec-09

30-Sep-09

30-Jun-09

31-Mar-09

Japan

320.5

65.4 %

397.5

64.6 %

247.9

64.1 %

119.0

64.9 %

340.2

60.4 %

North America

51.2

10.5 %

82.4

13.4 %

58.4

15.1 %

29.8

16.3 %

91.8

16.3 %

Europe

5.2

1.1 %

7.0

1.1 %

4.8

1.2 %

2.5

1.4 %

10.6

1.9 %

Asia

112.8

23 %

128.6

20.9 %

75.4

19.5 %

32.0

17.4 %

120.9

21.5 %

Segment Total

489.7

100 %

615.6

100 %

386.5

100 %

183.3

100 %

563.4

100 %

Eliminations/Corporate

-83.9

-17.1 %

-128.1

-20.8 %

-87.1

-22.5 %

-42.5

-23.2 %

-129.5

-23 %

Consolidated Total

405.8

82.9 %

487.5

79.2 %

299.4

77.5 %

140.9

76.8 %

433.9

77 %

Exchange Rate: JPY to USD

90.324863

 

93.645436

 

95.546168

 

97.475000

 

94.889044

 

Operating Income/Loss   USD (mil)

 

31-Mar-10

31-Dec-09

30-Sep-09

30-Jun-09

31-Mar-09

Japan

-2.5

-27.8 %

-28.6

126.6 %

-25.1

102.6 %

-13.6

91.3 %

-21.1

183.7 %

North America

1.0

11.1 %

0.2

-0.7 %

-0.2

0.9 %

-0.2

1.7 %

1.3

-11.1 %

Europe

-0.1

-0.9 %

-0.4

1.8 %

-0.4

1.5 %

-0.2

1.2 %

0.0

-0.1 %

Asia

10.6

117.5 %

6.3

-27.7 %

1.2

-5 %

-0.9

5.9 %

8.3

-72.5 %

Segment Total

9.0

100 %

-22.6

100 %

-24.5

100 %

-14.9

100 %

-11.5

100 %

Eliminations/Corporate

-2.5

-27.3 %

-2.3

10.4 %

-2.1

8.6 %

-0.2

1.3 %

-0.1

0.7 %

Consolidated Total

6.6

72.7 %

-25.0

110.4 %

-26.6

108.6 %

-15.1

101.3 %

-11.6

100.7 %

Exchange Rate: JPY to USD

90.324863

 

93.645436

 

95.546168

 

97.475000

 

94.889044

 

 

Operating Margin (%)  

 

31-Mar-10

31-Dec-09

30-Sep-09

30-Jun-09

31-Mar-09

Japan

-0.8

-

-7.2

-

-10.1

-

-11.4

-

-6.2

-

North America

2.0

-

0.2

-

-0.4

-

-0.8

-

1.4

-

Europe

-1.5

-

-5.9

-

-7.9

-

-6.9

-

0.1

-

Asia

9.4

-

4.9

-

1.6

-

-2.8

-

6.9

-

Segment Total

1.8

-

-3.7

-

-6.3

-

-8.1

-

-2.0

-

Eliminations/Corporate

2.9

-

1.8

-

2.4

-

0.5

-

0.1

-

Consolidated Total

1.6

-

-5.1

-

-8.9

-

-10.7

-

-2.7

-

 

 

Business Segments

 

Financials in: As Reported (mil)

Annual             

           

 

External Revenue   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

Automobile Related

664.5

71.4 %

493.5

70.3 %

607.8

69.5 %

601.4

69.8 %

564.7

69.1 %

Control System/Life and Environment Related

67.9

7.3 %

83.4

11.9 %

79.4

9.1 %

74.0

8.6 %

74.0

9.1 %

Aircraft Part Import Sales

123.0

13.2 %

-

-

-

-

-

-

-

-

Others

75.4

8.1 %

-

-

-

-

-

-

-

-

Others/Imported Goods

-

-

125.2

17.8 %

187.5

21.4 %

186.0

21.6 %

178.3

21.8 %

Segment Total

930.8

100 %

702.1

100 %

874.8

100 %

861.4

100 %

817.0

100 %

Consolidated Total

930.8

100 %

702.1

100 %

874.8

100 %

861.4

100 %

817.0

100 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

100.484331

 

114.302336

 

116.944303

 

Total Revenue   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

Automobile Related

664.5

71.4 %

493.5

70.3 %

607.8

69.5 %

601.4

69.8 %

564.7

69.1 %

Control System/Life and Environment Related

67.9

7.3 %

83.4

11.9 %

79.4

9.1 %

74.0

8.6 %

74.0

9.1 %

Aircraft Part Import Sales

123.0

13.2 %

-

-

-

-

-

-

-

-

Others

75.4

8.1 %

-

-

-

-

-

-

-

-

Others/Imported Goods

-

-

125.2

17.8 %

187.5

21.4 %

186.0

21.6 %

178.3

21.8 %

Segment Total

930.8

100 %

702.1

100 %

874.8

100 %

861.4

100 %

817.0

100 %

Consolidated Total

930.8

100 %

702.1

100 %

874.8

100 %

861.4

100 %

817.0

100 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

100.484331

 

114.302336

 

116.944303

 

 

Depreciation   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

Automobile Related

41.0

89.4 %

36.2

80.4 %

32.0

79.3 %

24.6

78.6 %

19.6

77.3 %

Control System/Life and Environment Related

3.2

6.9 %

7.2

16 %

6.8

16.8 %

5.1

16.3 %

4.4

17.2 %

Aircraft Part Import Sales

0.3

0.7 %

-

-

-

-

-

-

-

-

Others

1.4

3.1 %

-

-

-

-

-

-

-

-

Others/Imported Goods

-

-

1.6

3.6 %

1.6

3.9 %

1.6

5.1 %

1.4

5.5 %

Segment Total

45.9

100 %

45.1

100 %

40.3

100 %

31.3

100 %

25.3

100 %

Consolidated Total

45.9

100 %

45.1

100 %

40.3

100 %

31.3

100 %

25.3

100 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

100.484331

 

114.302336

 

116.944303

 

Total Operating Expense   USD (mil)

 

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

Automobile Related

516.8

71.5 %

612.4

69.6 %

576.6

69.1 %

540.9

68.3 %

Control System/Life and Environment Related

81.7

11.3 %

84.0

9.6 %

77.9

9.3 %

79.6

10.1 %

Others/Imported Goods

124.6

17.2 %

183.2

20.8 %

180.2

21.6 %

170.9

21.6 %

Segment Total

723.1

100 %

879.6

100 %

834.7

100 %

791.4

100 %

Consolidated Total

723.1

100 %

879.6

100 %

834.7

100 %

791.4

100 %

Exchange Rate: JPY to USD

92.941082

 

100.484331

 

114.302336

 

116.944303

 

 

Operating Income/Loss   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

Automobile Related

27.3

87.3 %

-23.3

111.1 %

-4.6

94.5 %

24.8

93.1 %

23.8

93 %

Control System/Life and Environment Related

1.4

4.4 %

1.7

-8.2 %

-4.6

95.1 %

-4.0

-14.9 %

-5.6

-21.8 %

Aircraft Part Import Sales

0.2

0.6 %

-

-

-

-

-

-

-

-

Others

2.4

7.7 %

-

-

-

-

-

-

-

-

Others/Imported Goods

-

-

0.6

-3 %

4.3

-89.5 %

5.8

21.8 %

7.4

28.8 %

Segment Total

31.2

100 %

-21.0

100 %

-4.8

100 %

26.7

100 %

25.6

100 %

Consolidated Total

31.2

100 %

-21.0

100 %

-4.8

100 %

26.7

100 %

25.6

100 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

100.484331

 

114.302336

 

116.944303

 

Operating Margin (%)  

 

31-Mar-11

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

Automobile Related

4.1

-

-4.7

-

-0.8

-

4.1

-

4.2

-

Control System/Life and Environment Related

2.0

-

2.1

-

-5.8

-

-5.4

-

-7.5

-

Aircraft Part Import Sales

0.2

-

-

-

-

-

-

-

-

-

Others

3.2

-

-

-

-

-

-

-

-

-

Others/Imported Goods

-

-

0.5

-

2.3

-

3.1

-

4.1

-

Segment Total

3.4

-

-3.0

-

-0.6

-

3.1

-

3.1

-

Consolidated Total

3.4

-

-3.0

-

-0.6

-

3.1

-

3.1

-

 

Total Assets   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

Automobile Related

773.4

82.8 %

674.9

82.1 %

646.3

80.6 %

670.6

78.7 %

555.0

77.9 %

Control System/Life and Environment Related

60.1

6.4 %

78.5

9.5 %

77.8

9.7 %

87.6

10.3 %

77.8

10.9 %

Aircraft Part Import Sales

50.0

5.3 %

-

-

-

-

-

-

-

-

Others

50.5

5.4 %

-

-

-

-

-

-

-

-

Others/Imported Goods

-

-

68.5

8.3 %

78.2

9.7 %

94.4

11.1 %

79.3

11.1 %

Segment Total

934.0

100 %

822.0

100 %

802.4

100 %

852.6

100 %

712.2

100 %

Consolidated Total

934.0

100 %

822.0

100 %

802.4

100 %

852.6

100 %

712.2

100 %

Exchange Rate: JPY to USD

82.880000

 

93.440000

 

98.770000

 

99.535000

 

118.075000

 

Operating Return on Assets (%)  

 

31-Mar-11

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

Automobile Related

3.6

-

-3.4

-

-0.7

-

4.3

-

4.2

-

Control System/Life and Environment Related

2.4

-

2.2

-

-6.0

-

-5.2

-

-7.1

-

Aircraft Part Import Sales

0.4

-

-

-

-

-

-

-

-

-

Others

4.9

-

-

-

-

-

-

-

-

-

Others/Imported Goods

-

-

0.9

-

5.6

-

7.1

-

9.2

-

Segment Total

3.5

-

-2.5

-

-0.6

-

3.6

-

3.6

-

Consolidated Total

3.5

-

-2.5

-

-0.6

-

3.6

-

3.6

-

 

Purchase of Fixed Assets   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-09

31-Mar-08

31-Mar-07

Automobile Related

33.7

87.8 %

34.8

85.3 %

51.8

84.4 %

34.2

76.8 %

33.6

74.8 %

Control System/Life and Environment Related

2.1

5.4 %

4.7

11.6 %

7.5

12.3 %

8.7

19.6 %

9.9

22 %

Aircraft Part Import Sales

0.8

2.1 %

-

-

-

-

-

-

-

-

Others

1.8

4.7 %

-

-

-

-

-

-

-

-

Others/Imported Goods

-

-

1.3

3.1 %

2.1

3.4 %

1.6

3.7 %

1.4

3.2 %

Segment Total

38.4

100 %

40.7

100 %

61.4

100 %

44.5

100 %

44.9

100 %

Consolidated Total

38.4

100 %

40.7

100 %

61.4

100 %

44.5

100 %

44.9

100 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

100.484331

 

114.302336

 

116.944303

 

 

 

 

Business Segments

Financials in: As Reported (mil)

 

Interim  

      

External Revenue   USD (mil)

 

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

31-Dec-10

Automobile Related

200.0

72.1 %

193.7

72.6 %

161.8

68.9 %

172.8

71.6 %

170.9

70.1 %

Control System/Life and Environment Related

20.7

7.5 %

19.5

7.3 %

17.5

7.5 %

16.0

6.6 %

18.9

7.7 %

Aircraft Part Import Sales

39.4

14.2 %

35.9

13.5 %

36.0

15.3 %

31.8

13.2 %

36.7

15 %

Others

17.3

6.2 %

17.7

6.6 %

19.5

8.3 %

20.9

8.7 %

17.5

7.2 %

Others/Imported Good Sales

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Segment Total

277.3

100 %

266.8

100 %

234.8

100 %

241.5

100 %

243.9

100 %

Consolidated Total

277.3

100 %

266.8

100 %

234.8

100 %

241.5

100 %

243.9

100 %

Exchange Rate: JPY to USD

77.302742

 

77.752043

 

81.605269

 

82.241044

 

82.567473

 

Total Revenue   USD (mil)

 

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

31-Dec-10

Automobile Related

200.0

72.1 %

193.7

72.6 %

161.8

68.9 %

172.8

71.6 %

170.9

70.1 %

Control System/Life and Environment Related

20.7

7.5 %

19.5

7.3 %

17.5

7.5 %

16.0

6.6 %

18.9

7.7 %

Aircraft Part Import Sales

39.4

14.2 %

35.9

13.5 %

36.0

15.3 %

31.8

13.2 %

36.7

15 %

Others

17.3

6.2 %

17.7

6.6 %

19.5

8.3 %

20.9

8.7 %

17.5

7.2 %

Others/Imported Good Sales

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Segment Total

277.3

100 %

266.8

100 %

234.8

100 %

241.5

100 %

243.9

100 %

Consolidated Total

277.3

100 %

266.8

100 %

234.8

100 %

241.5

100 %

243.9

100 %

Exchange Rate: JPY to USD

77.302742

 

77.752043

 

81.605269

 

82.241044

 

82.567473

 

 

Operating Income/Loss   USD (mil)

 

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

31-Dec-10

Automobile Related

9.0

95.5 %

8.7

101.5 %

7.1

77.8 %

4.2

74.4 %

8.3

81.6 %

Control System/Life and Environment Related

0.0

-0.4 %

0.2

2.9 %

0.3

3.3 %

-0.2

-2.8 %

0.9

9.1 %

Aircraft Part Import Sales

0.3

2.9 %

-0.3

-3.6 %

0.9

9.4 %

0.4

6.7 %

0.0

0 %

Others

0.2

2 %

-0.1

-0.8 %

0.9

9.5 %

1.2

21.7 %

0.9

9.3 %

Others/Imported Good Sales

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Segment Total

9.5

100 %

8.6

100 %

9.2

100 %

5.6

100 %

10.1

100 %

Consolidated Total

9.5

100 %

8.6

100 %

9.2

100 %

5.6

100 %

10.1

100 %

Exchange Rate: JPY to USD

77.302742

 

77.752043

 

81.605269

 

82.241044

 

82.567473

 

Operating Margin (%)  

 

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

31-Dec-10

Automobile Related

4.5

-

4.5

-

4.4

-

2.4

-

4.8

-

Control System/Life and Environment Related

-0.2

-

1.3

-

1.8

-

-1.0

-

4.9

-

Aircraft Part Import Sales

0.7

-

-0.9

-

2.4

-

1.2

-

0.0

-

Others

1.1

-

-0.4

-

4.5

-

5.8

-

5.4

-

Segment Total

3.4

-

3.2

-

3.9

-

2.3

-

4.2

-

Consolidated Total

3.4

-

3.2

-

3.9

-

2.3

-

4.2

-

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.83

UK Pound

1

Rs.87.41

Euro

1

Rs.70.43

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.