MIRA INFORM REPORT

 

 

Report Date :

04.07.2012

 

IDENTIFICATION DETAILS

 

Name :

NET ONE SYSTEMS CO., LTD.  

 

 

Registered Office :

2-2-8 Higashi-Shinagawa, Tokyo, 140-8621

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

01.02.1988

 

 

Legal Form :

Public Parent Company

 

 

Line of Business :

provision of network integration and value-added services

 

 

No. of Employees :

2,023

 

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 :

Good

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 

 

Net One Systems Co., Ltd. 

2-2-8 Higashi-Shinagawa

Tokyo, 140-8621

Japan

 

Tel:       81-3-54620800

Fax:      81-3-54620699

 

Web:     www.netone.co.jp

             

 

Synthesis

 

Employees:                  2,023

Company Type:            Public Parent

Corporate Family:          2 Companies

Traded:                         Tokyo Stock Exchange: 7518

Incorporation Date:         01-Feb-1988

Auditor:                        Deloitte Touche Tohmatsu         

Financials in:                 USD (Millions)

Fiscal Year End:            31-Mar-2012

Reporting Currency:       Japanese Yen

Annual Sales:               1,996.3  1

Net Income:                  107.9

Total Assets:                1,213.8  2

Market Value:               1,135.3 (22-Jun-2012)

 

 

Business Description     

 

Net One Systems Co., Ltd. is a Japan-based company engaged in the provision of network integration and value-added services. It has five business segments. The EP segment targets at general private companies. The Telecommunications and Internet Service Provider (SP) segment offers products and services to telecommunications operators and Internet service providers. The Regional Area and Public (AP) segment focuses on public offices, municipalities and regional private companies. The Partner segment is operated by its subsidiary Net One Partners Co., Ltd. The Others segment includes server services and others. Its main products and services are comprised of network products (NIs), such as routers, switches and wireless products; platform products (PFs), including servers, firewalls, Internet protocol (IP) phones, and loading balancing devices, as well as service products (SIs), such as installation, operation center, system design and consulting services. For the six months ended 30 September 2011, Net One Systems Co., Ltd.'s revenues increased 17% to Y69.75B. The Company's net income totaled Y3.65B, up from Y741M. Revenues reflect higher sales due to the increased demand especially in SP business segment. Net income also benefited from lower percentage of cost of sales and selling, general and administrative expenses as well as the presence of equity gain.

Industry             

Industry            Computer Networks

ANZSIC 2006:    7000 - Computer System Design and Related Services

NACE 2002:      7210 - Hardware consultancy

NAICS 2002:     541512 - Computer Systems Design Services

UK SIC 2003:    7210 - Hardware consultancy

US SIC 1987:    7373 - Computer Integrated Systems Design

 

           

Key Executives   

 

Name                           Title    

Takayuki Yoshino          President, Executive President, Representative Director   

Junichi Aoyama IR         Contact                        

Masahiro Naito              Co-Auditor        

Tadashi Arima               Corporate Auditor          

Ryoji Horiuchi                Director


Significant Developments  

 

 

Topic

#*

Most Recent Headline

Date

Equity Financing / Related

1

Net One Systems Co., Ltd. to Split Stock; Announces Partial Change to Article of Incorporation of Authorized Share Number

24-Feb-2012

Positive Earnings Pre-Announcement

2

Net One Systems Co., Ltd. Raises FY 2012 Outlook; Announces Changes in Shareholding Structure

27-Oct-2011

Share Repurchases

1

Net One Systems Co., Ltd. Announces Treasury Stock Retirement

26-Apr-2012

Dividends

2

Net One Systems Co., Ltd. Announces Dividend Payment for FY Ended March 2012; Announces Officer Changes

11-May-2012

* number of significant developments within the last 12 months                                                                     

 

 

News 

 

 

Title

Date

Tokyo Most Actives
Nikkei English News (573 Words)

26-Apr-2012

Net One Systems Lifts FY Dividend Plan To Y6200.00
Nikkei English News (37 Words)

26-Apr-2012

Net One Systems FY Grp Net Pft Y8.52B Vs Y2.89B Pft Yr Earlier
Nikkei English News (58 Words)

26-Apr-2012

Net One Systems Expects This FY Group Net Profit Y9.60B
Nikkei English News (62 Words)

26-Apr-2012

Net One reports higher nine-month income, provides outlook for 2012
Datamonitor TechnologyWire (169 Words)

27-Feb-2012

 

 

Financial Summary  

 

 

As of 31-Mar-2012

Key Ratios

Company

Industry

Current Ratio (MRQ)

2.57

1.74

Quick Ratio (MRQ)

2.24

1.47

Debt to Equity (MRQ)

0.03

0.17

Sales 5 Year Growth

7.60

20.69

Net Profit Margin (TTM) %

5.42

7.95

Return on Assets (TTM) %

9.36

3.72

Return on Equity (TTM) %

14.25

12.51

 

 

Stock Snapshot  

 

 

Traded: Tokyo Stock Exchange: 7518

 

As of 22-Jun-2012

   Financials in: JPY

Recent Price

989.00

 

EPS

95.47

52 Week High

1,264.00

 

Price/Sales

0.58

52 Week Low

713.50

 

Dividend Rate

31.00

Avg. Volume (mil)

1.14

 

Price/Earnings

10.67

Market Value (mil)

90,988.00

 

Price/Book

1.41

 

 

 

Beta

0.48

 

Price % Change

Rel S&P 500%

4 Week

-8.68%

-12.18%

13 Week

4.60%

18.76%

52 Week

28.11%

40.84%

Year to Date

-5.76%

-8.56%

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.96121

2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536

 

Corporate Overview

 

Location

2-2-8 Higashi-Shinagawa

Tokyo, 140-8621

Japan

Tel:       81-3-54620800

Fax:      81-3-54620699

Web:    www.netone.co.jp

           

Quote Symbol - Exchange

7518 - Tokyo Stock Exchange

 

Sales JPY(mil):              157,633.0

Assets JPY(mil):            100,002.0

Employees:                   2,023

Fiscal Year End:            31-Mar-2012

Industry:                        Computer Networks

Incorporation Date:         01-Feb-1988

Company Type:             Public Parent

Quoted Status:              Quoted

President,

Executive President,

Representative Director:  Takayuki Yoshino

 

Company Web Links

Corporate History/Profile

Home Page

Investor Relations

News Releases

Products/Services

 

Contents

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Subsidiaries

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

3492     -          Computer and Computer Peripheral Wholesaling

7000     -          Computer System Design and Related Services

 

NACE 2002 Codes:

5184     -          Wholesale of computers, computer peripheral equipment and software

7230     -          Data processing

7210     -          Hardware consultancy

72         -          Computer and Related Activities

 

NAICS 2002 Codes:

541513  -          Computer Facilities Management Services

423430  -          Computer and Computer Peripheral Equipment and Software Merchant Wholesalers

541512  -          Computer Systems Design Services

 

US SIC 1987:

7379     -          Computer Related Services, Not Elsewhere Classified

5045     -          Computers and Computer Peripheral Equipment and Software

7373     -          Computer Integrated Systems Design

7376     -          Computer Facilities Management Services

 

UK SIC 2003:

5184     -          Wholesale of computers, computer peripheral equipment and software

7230     -          Data processing

7210     -          Hardware consultancy

72         -          Computer and Related Activities

 

Business Description

Net One Systems Co., Ltd. is a Japan-based company engaged in the provision of network integration and value-added services. It has five business segments. The EP segment targets at general private companies. The Telecommunications and Internet Service Provider (SP) segment offers products and services to telecommunications operators and Internet service providers. The Regional Area and Public (AP) segment focuses on public offices, municipalities and regional private companies. The Partner segment is operated by its subsidiary Net One Partners Co., Ltd. The Others segment includes server services and others. Its main products and services are comprised of network products (NIs), such as routers, switches and wireless products; platform products (PFs), including servers, firewalls, Internet protocol (IP) phones, and loading balancing devices, as well as service products (SIs), such as installation, operation center, system design and consulting services. For the six months ended 30 September 2011, Net One Systems Co., Ltd.'s revenues increased 17% to Y69.75B. The Company's net income totaled Y3.65B, up from Y741M. Revenues reflect higher sales due to the increased demand especially in SP business segment. Net income also benefited from lower percentage of cost of sales and selling, general and administrative expenses as well as the presence of equity gain.

 

More Business Descriptions

Provision of internet and other electronic communication systems

 

Network Integration Services

 

Net One Systems Co., Ltd. (NOS) is a Japan based network integration operation company. The company’s service offerings include network design, research and introduction of policies, project management, maintenance and operation management, machine introduction, drawing control, wiring design, construction work, operation center, and consultation. The company operates through four business lines, namely, Network Integration (NI) Operation, Network Computing (NC) Operation, Service Integration (SI) Operation and Media Integration (MI) Operation. The Network Integration (NI) Operation line of the company constructs and deploys efficient network infrastructure. It utilises the technological expertise and helps the customers to support their new business model. Its major product offerings include Router, Switch and Unified communications. Network Computing (NC) Operation line provides applications such as traffic management and QoS for Internet environment and e-commerce fields. It also provides security products and multimedia applications. Its major product offerings include security device and authentication, load balancing device, server and storage. Service Integration (SI) Operation line is engaged in design, construction, operation, maintenance and management of integrated services for the client networks. It also helps to improve the operational efficiency by reducing operational cost in the form of better traffic analysis and efficient customer billing environment. Its major product offerings include cable material and wiring work, optical communications and wireless. Media Integration (MI) Operation line provides across-the-board integration through design and installation of transmission line media network infrastructure such as CATV and mobile communication devices. The major offerings of the respective segment include service and operation management, operation center consulting, installation and education seminars. NOS provides its network integration operation services to Universities, Government and municipal offices, construction, food and fiber, rubber, pottery industry, chemistry, oil, steel and metal, machine, electrical machinery, transmission and precision, commerce, finance and insurance, transportation, communication, media, electric power and gas, service and information system sectors. The revenue generated by the company is segmented based on the markets namely, Tokyo Metro Enterprise (EP), Telecom and Internet Service Provider (SP), Regional Area and Public (PA) Sector, Partner sector and Others. During the fiscal year ended March 2011 , the revenue generated by SP segment was JPY59874m, followed by PA segment wit JPY34683m and EP segment JPY24754m. The Partner segment is operated by it's subsidiary Net One Partners Co., Ltd. with revenues of JPY11221m and the Others segment by Xseed Co., Ltd. with revenues of JPY822m. In January, Net One Systems Co., Ltd. announced that it has decided to merge with its wholly owned subsidiary, Network Service And Technologies Co., Ltd.The partners of the company include ITFOR, Inc., Matsushita Network Operations Co., Ltd., IT Frontier Corporation, Hitachi Information Technology Co., Ltd., Software Research Associates, Inc., NEC Networks & System Integration Corporation, Canon Network Communications Inc., Canon Marketing Japan Inc., Qualica Inc., JFE Systems, Inc., Sumisho Computer Systems Corporation, Sumitomo Densetsu Co., Ltd., SWCC Showa Holdings Co., Ltd., Catena Corporation, NEC Corporation, Japan Information Processing Service Co., Ltd., Panasonic Solution Technologies Co., Ltd., Kawasho Electronics Corporation, Fujitsu Limited, Fuji Xerox Co., Ltd., The Furukawa Electric Co., Ltd., Matsushita Electric Works, Ltd., Mitsubishi Electric Information Technology Corporations, MIND, Inc. (Mitsubishi Electric Information Network Corporation), TOMEN Cyber-business Solutions, Inc., and Yasukawa Information Systems Corporation. In January 2011, Net One Systems Co., Ltd. merged with its wholly owned subsidiary, Network Service And Technologies Co., Ltd. This was done with the aim to integrate offerings of the two entities. Network Service And Technologies Co., Ltd. was involved in the installation of software, maintenance, operation and other products related to computer networks.

 

Net One Systems Co., Ltd. (NOS) is a Japan based service provider Company engaged in offering network integration operation services to its customers around the world. NOS principally provides network consulting, network design and management, network facilities installation and construction, network equipment sales, network computing services, operation support services and training services. Its business operations are Network Integration and Computing, Service Integration and Media Integration. The product portfolio of the company includes security and authentication products, routers, switches, load balancers, servers and storage products. The company’s operational locations include Hokkaido, Miyagi, Ibaraki, Aichi, Osaka and Hiroshima in Japan. The company is headquartered at Tokyo in Japan.In January 2011, Net One Systems Co., Ltd. merged with its wholly owned subsidiary, Network Service And Technologies Co., Ltd.The company reported revenues of (Yen) JPY 157,633.00 million during the fiscal year ended March 2012, an increase of 20.46% over 2011. The operating profit of the company was JPY 15,081.00 million during the fiscal year 2012, an increase of 178.56% over 2011. The net profit of the company was JPY 8,524.00 million during the fiscal year 2012, an increase of 194.24% over 2011.

 

Other Scientific and Technical Consulting Services

 

 

Financial Data

Financials in:

JPY(mil)

 

Revenue:

157,633.0

Net Income:

8,520.0

Assets:

100,002.0

Long Term Debt:

1,004.0

 

Total Liabilities:

36,632.0

 

Working Capital:

14.1

 

 

 

Date of Financial Data:

31-Mar-2012

 

1 Year Growth

20.5%

194.7%

21.0%

Market Data

Quote Symbol:

7518

Exchange:

Tokyo Stock Exchange

Currency:

JPY

Stock Price:

989.0

Stock Price Date:

06-22-2012

52 Week Price Change %:

28.1

Market Value (mil):

90,988,000.0

 

SEDOL:

6036548

ISIN:

JP3758200004

 

Equity and Dept Distribution:

FY'04-'06: 1Q & 3Q WAS & O/S were estimated and WAS=O/S. FY'06 earning adjustment & DPS were estimated. FY'08 2Q WAS was estimated to reflect reported EPS. FY'08 4Q reported EPS=4797.85. FY'08 Q1 WAS was used as o/s. FY'09 Q1 reported EPS=DEPS=Y1,295.30. FY'08 Q1 reported EPS=Y420.48. FY'06 Q3 reported EPS=Y5636.49. FY'08 Q3 WAS=o/s

 

 

Subsidiaries

Company

Percentage Owned

Country

Net One Systems USA Inc

 

USA

 

 

 

 

Shareholders

 

 

Major Shareholders

Company's Trust Stock (18.3%); CBNY-Orbis Funds (9.7%); CBNY-Orbis SICAV (9.2%); Japan Trustee Services (9.1%); Master Trust Bank of Japan (5.1%)

 

 

 

 

Key Corporate Relationships

Auditor:

Deloitte Touche Tohmatsu

 

Auditor:

Deloitte Touche Tohmatsu

 

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Net One Systems Co., Ltd.

Net One Systems Co., Ltd. 
Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Net One Systems Co., Ltd.

Parent

Tokyo

Japan

Computer Networks

1,996.3

2,023

Net One Systems Co Ltd - Hiroshima Business Division

Division

Hiroshima

Japan

Computer Networks

 

 

 

 

Competitors Report

 

Company Name

Location

Employees

Ownership

Hitachi Software Engineering Co., Ltd.

Shinagawa-Ku, Japan

7,470

Public

Nomura Research Institute, Ltd.

Tokyo, Japan

6,881

Public

NS Solutions Corporation

Tokyo, Japan

4,917

Public

NTT Data Corp

Tokyo, Japan

58,668

Public

Tokyo Electron Limited

Tokyo, Japan

10,684

Public

Toshiba Corp

Tokyo, Japan

212,000

Public

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

 

Osamu Sawada

 

Board Member

Chairman

 

Biography:

Mr. Swada has been serving as chairman of Net One System Co.,Ltd since 2010. Prior to this he was president and chief executive officer of Net One System USA, Inc. Mr Swada also worked for several companies including Mitsubishi Corporation, Neoteny Co., Ltd., brainsellers.com Corp. and EC-One, Inc.

 

Age: 65

 

Toru Arai

 

Executive Officer, Director

Director/Board Member

 

 

Biography:

Mr. Toru Arai has been serving as Executive Officer and Director in Net One Systems Co., Ltd. since April 1, 2011. He is also serving as President and Chief Executive Officer (CEO) in Net One Systems USA, Inc. He joined the Company in April 1990 and previously served as Chief Director of Network Technology in the Company. He used to work for RYODEN ELEVATOR CONSTRUCTION LTD, HIGH ENERGY ACCELERATOR RESEARCH ORGANIZATION and Ungermann-Bass K.K.

 

Age: 53

 

Yoshiharu Horiuchi

 

Executive Officer, Director

Director/Board Member

 

 

Biography:

Mr. Yoshiharu Horiuchi has been serving as Executive Officer and Director in Net One Systems Co., Ltd. since April 1, 2012. He is also serving as President and Representative Director in Business Assurance Co., Ltd. He used to work for a company that is under the new name, IX Knowledge Incorporated and other three companies.

 

Age: 59

 

Katsutoshi Ichikawa

 

Director

Director/Board Member

 

 

Masao Ikeya

 

Director

Director/Board Member

 

 

Mitsuo Imai

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Mitsuo Imai has been serving as Independent Director in Net One Systems Co., Ltd. since June 14, 2012. He is also working for Hitachi Cable, Ltd.

 

Age: 61

 

Education:

Tokyo Institute of Technology, B (Electrical Engineering Technology)

Source: 

Norihisa Katayama

 

Executive Officer, Director

Director/Board Member

 

 

Biography:

Mr. Norihisa Katayama has been serving as Executive Officer and Director in Net One Systems Co., Ltd. since April 1, 2011. He joined the Company in May 1989 and previously served as Manager of CEO Office in the Company. He used to work for Ungermann-Bass K.K. and a company that is under the new name, Komatsu Ltd.

 

Age: 56

 

Kunio Kawakami

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Kunio Kawakami has been serving as Independent Director in Net One Systems Co., Ltd. since June 24, 2009. He used to work for TEPCO SYSTEMS CORPORATION and a company that is under the new name, Kandenko Company, Limited.

 

Age: 68

 

Masasuke Naito

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Masasuke Naito has been serving as Independent Director in Net One Systems Co., Ltd. since June 14, 2012. He used to work for Mitsubishi Corporation, Mitsubishi Logistics Corporation and a company that is under the new name, SKY Perfect JSAT Corporation.

 

Age: 69

 

Shingo Saito

 

President of Subsidiary, Director

Director/Board Member

 

 

Biography:

Mr. Shingo Saito has been serving as Director in Net One Systems Co., Ltd., as well as President and Representative Director of a subsidiary, since April 2011. He joined the Company in April 1994. His previous titles include Chief Director of 1st Business and Managing Director in the Company. He used to work for a company that is under the new name, NEC Networks & System Integration Corporation and another company.

 

Age: 57

 

Takayuki Yoshino

 

President, Executive President, Representative Director

Director/Board Member

 

 

Biography:

Mr. Takayuki Yoshino has been serving as President, Executive President and Representative Director in Net One Systems Co., Ltd. since April 1, 2011. He used to work for a company that is under the new name, NEC Fielding, Ltd., Tokyo Electron Limited and other two companies.

 

Age: 61

 

 

Executives

 

Name

Title

Function

 

Takayuki Yoshino

 

President, Executive President, Representative Director

President

 

Biography:

Mr. Takayuki Yoshino has been serving as President, Executive President and Representative Director in Net One Systems Co., Ltd. since April 1, 2011. He used to work for a company that is under the new name, NEC Fielding, Ltd., Tokyo Electron Limited and other two companies.

 

Age: 61

 

Shingo Saito

 

President of Subsidiary, Director

Division Head Executive

 

 

Biography:

Mr. Shingo Saito has been serving as Director in Net One Systems Co., Ltd., as well as President and Representative Director of a subsidiary, since April 2011. He joined the Company in April 1994. His previous titles include Chief Director of 1st Business and Managing Director in the Company. He used to work for a company that is under the new name, NEC Networks & System Integration Corporation and another company.

 

Age: 57

 

Masahiro Naito

 

Co-Auditor

Finance Executive

 

 

Hiromu Yoshida

 

Co-Auditor

Finance Executive

 

 

Tadashi Arima

 

Corporate Auditor

Accounting Executive

 

 

Masamichi Kikuchi

 

Corporate Auditor

Accounting Executive

 

 

Minoru Uchida

 

Corporate Auditor

Accounting Executive

 

 

Junichi Aoyama

 

IR Contact

Other

 

 

Masaaki Hayakusa

 

Executive Officer

Other

 

 

Shinji Hirakawa

 

Executive Officer

Other

 

 

Ryoji Horiuchi

 

Director

Other

 

 

Age: 59

 

Masahide Mori

 

Executive Officer

Other

 

 

Hiroshi Ohtsuka

 

Managing Executive Officer

Other

 

 

Biography:

Mr. Hiroshi Ohtsuka has been serving as Managing Executive Officer in Net One Systems Co., Ltd. since June 14, 2012. Prior to that, he served as Executive Officer and Director in the Company. He joined the Company in June 2007. He used to work for NETMARKS INC. and another company.

 

Age: 57

 

Koji Otsuka

 

Director

Other

 

 

Fumihiko Shinoura

 

Executive Officer

Other

 

 

Shunichi Suemitsu

 

Managing Executive Officer

Other

 

 

Biography:

Mr. Shunichi Suemitsu has been serving as Managing Executive Officer in Net One Systems Co., Ltd. since June 14, 2012. Prior to that, he served as Executive Officer and Director in the Company. He joined the Company in May 1998 and previously served as Chief Director of Service Provider Technology in the Company.

 

Age: 51

 

Tsuyoshi Suzuki

 

Managing Executive Officer

Other

 

 

Biography:

Mr. Tsuyoshi Suzuki has been serving as Managing Executive Officer in Net One Systems Co., Ltd. since June 14, 2012. Prior to that, he served as Executive Officer and Director in the Company. He joined the Company in July 1995. His previous titles include Director of Kansai Business, Chief Director of 4th Business and Chief Director of Nishi Nihon Business in the Company. He used to work for HUMO LABORATORY, LTD. and Ungermann-Bass K.K.

 

Age: 54

 

Takafumi Takeshita

 

Executive Officer

Other

 

 

 

 

Significant Developments

 

Net One Systems Co., Ltd. Announces Dividend Payment for FY Ended March 2012; Announces Officer Changes

May 11, 2012

 

Net One Systems Co., Ltd. announced that it will issue dividend of JPY 4,600.00 per share, or JPY 2,072 million in total, effective June 15, 2012, in line with a forecast of JPY 4,600.00 per share announced on April 26, 2012, from retained earnings to shareholders as of March 31, 2012. The Company also announced that Osamu Sawada will resign from the position of Chairman of the Board in the Company, effective June 14, 2012.

 

Net One Systems Co., Ltd. Announces Treasury Stock Retirement Apr 26, 2012

 

Net One Systems Co., Ltd. announced that it will retire 18,380,000 shares(16.7% stake) of its common stock on April 27, 2012. After the retirement, the total of its shares outstanding will be 92,000,000 shares.

 

Net One Systems Co., Ltd. Raises Year-end Dividend Forecast for FY 2012 Apr 26, 2012

 

Net One Systems Co., Ltd. announced that it has raised its year-end dividend forecast from JPY 1,600 per share announced on April 28, 2011, to JPY 4,600 per share, for the fiscal year ended March 2012.

 

Net One Systems Co., Ltd. to Split Stock; Announces Partial Change to Article of Incorporation of Authorized Share Number Feb 24, 2012

 

Net One Systems Co., Ltd. announced that it has decided to split one share of its stock into 200 shares, effective April 1, 2012. After the stock splitting, the total share outstanding will become 110,380,000. The Company has received approval from the shareholders meeting to make partial change to its article of incorporation. Based on change to article six, the Company will increase total number of authorized shares from 1,100,000 shares to 200,000,000 shares.

 

Net One Systems Co., Ltd. Raises FY 2012 Outlook; Announces Changes in Shareholding Structure Oct 27, 2011

 

Net One Systems Co., Ltd. announced that it has raised its consolidated full-year outlook for revenue from JPY 141,000 million to JPY 148,752 million, operating profit from JPY 10,200 million to JPY 13,345 million, ordinary profit from JPY 10,200 million to JPY 13,522 million, net profit from JPY 5,800 million to JPY 7,751 million and earning per share from JPY 12,873.30 to JPY 17,203.61 for the fiscal year ending March 31, 2012. This is due to the increased service products, and the decrease purchasing costs and other expenses. According to I/B/E/S Estimates, analysts on average are expecting the Company to report full-year revenue of JPY 143.30 billion and net profit of JPY 5.96 billion. The Company also announced that there were some changes in its shareholding structure on September 30, 2011. CBNY-ORBIS FUNDS became the third major share holder of the Company, with 5.37% voting rights (24,195 voting rights) in the Company, down from 11.93% (53,751 voting rights). CBNY-ORBIS SICAV became the fourth major shareholder of the Company, with 4.22% voting rights (19,018 voting rights) in the Company, down from 11.28% (50,824 voting rights).


Net One Systems Co., Ltd. Raises Consolidated Mid-year and Full-year Outlook for FY 2012 Jul 27, 2011

 

Net One Systems Co., Ltd. announced that it has raised the consolidated mid-year outlook for revenue from JPY 63,000 million to JPY 67,000 million, operating profit from JPY 2,500 million to JPY 5,000 million, ordinary profit from JPY 2,500 million to JPY 5,000 million, net profit from JPY 1,400 million to JPY 2,800 million and earning per share from JPY 3,107.35 to JPY 6,214.70 for the fiscal year ending March 31, 2012. The Company has also raised the consolidated full-year outlook for revenue from JPY 137,000 million to JPY 141,000 million, operating profit from JPY 7,800 million to JPY 10,200 million, ordinary profit from JPY 7,800 million to JPY 10,200 million, net profit from JPY 4,400 million to JPY 5,800 million and earning per share from JPY 9,765.95 to JPY 12,873.30 for the fiscal year ending March 31, 2012. The positive outlook is mainly due to the good performance of mobile communication business, as well as the decrease of costs.

 

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,996.3

1,527.1

1,338.2

1,304.9

977.1

Revenue

1,996.3

1,527.1

1,338.2

1,304.9

977.1

Total Revenue

1,996.3

1,527.1

1,338.2

1,304.9

977.1

 

 

 

 

 

 

    Cost of Revenue

1,460.6

1,171.2

1,018.6

980.1

757.4

Cost of Revenue, Total

1,460.6

1,171.2

1,018.6

980.1

757.4

Gross Profit

535.7

355.8

319.6

324.8

219.8

 

 

 

 

 

 

    Selling/General/Administrative Expense

108.9

115.1

118.2

100.9

72.1

    Labor & Related Expense

179.5

123.9

103.3

96.4

74.7

Total Selling/General/Administrative Expenses

288.4

239.0

221.5

197.3

146.9

Research & Development

38.0

32.8

27.4

25.0

19.7

    Depreciation

16.5

17.5

16.8

14.1

11.4

Depreciation/Amortization

16.5

17.5

16.8

14.1

11.4

    Impairment-Assets Held for Use

1.8

1.9

1.8

0.6

0.9

    Impairment-Assets Held for Sale

0.0

0.7

0.0

2.2

0.2

    Other Unusual Expense (Income)

0.1

0.7

-1.1

0.4

0.0

Unusual Expense (Income)

1.9

3.3

0.7

3.2

1.0

    Other Operating Expense

0.0

-

-

-

-

Other Operating Expenses, Total

0.0

-

-

-

-

Total Operating Expense

1,805.4

1,463.9

1,285.0

1,219.7

936.4

 

 

 

 

 

 

Operating Income

191.0

63.2

53.2

85.2

40.7

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.6

-0.5

-0.4

-0.2

0.0

    Interest Expense, Net Non-Operating

-0.6

-0.5

-0.4

-0.2

0.0

        Interest Income - Non-Operating

0.4

0.2

0.7

1.2

1.0

        Investment Income - Non-Operating

1.7

-0.1

-0.5

1.6

-0.4

    Interest/Investment Income - Non-Operating

2.1

0.1

0.2

2.8

0.7

Interest Income (Expense) - Net Non-Operating Total

1.5

-0.4

-0.2

2.6

0.7

Gain (Loss) on Sale of Assets

-

0.0

-0.1

0.0

-

    Other Non-Operating Income (Expense)

1.5

1.2

0.5

0.4

0.2

Other, Net

1.5

1.2

0.5

0.4

0.2

Income Before Tax

194.0

64.0

53.4

88.1

41.6

 

 

 

 

 

 

Total Income Tax

85.8

29.9

23.9

37.9

18.8

Income After Tax

108.2

34.1

29.4

50.2

22.8

 

 

 

 

 

 

    Minority Interest

-0.3

-0.3

-1.0

-1.5

-1.1

Net Income Before Extraord Items

107.9

33.8

28.4

48.8

21.7

Net Income

107.9

33.8

28.4

48.8

21.7

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-

-0.1

0.0

0.0

0.0

Total Adjustments to Net Income

-

-0.1

0.0

0.0

0.0

Income Available to Common Excl Extraord Items

107.9

33.7

28.3

48.7

21.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

107.9

33.7

28.3

48.7

21.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

90.1

89.8

89.7

96.7

103.6

Basic EPS Excl Extraord Items

1.20

0.38

0.32

0.50

0.21

Basic/Primary EPS Incl Extraord Items

1.20

0.38

0.32

0.50

0.21

Dilution Adjustment

-

0.0

0.0

0.0

0.0

Diluted Net Income

107.9

33.7

28.3

48.7

21.7

Diluted Weighted Average Shares

90.1

89.8

89.7

96.7

103.6

Diluted EPS Excl Extraord Items

1.20

0.38

0.32

0.50

0.21

Diluted EPS Incl Extraord Items

1.20

0.38

0.32

0.50

0.21

Dividends per Share - Common Stock Primary Issue

0.39

0.13

0.17

0.16

0.09

Gross Dividends - Common Stock

35.4

11.5

15.4

14.7

8.7

Interest Expense, Supplemental

0.6

0.5

0.4

0.2

0.0

Depreciation, Supplemental

16.5

37.3

37.6

31.8

25.4

Total Special Items

1.9

3.3

0.7

3.2

1.0

Normalized Income Before Tax

195.9

67.3

54.1

91.3

42.7

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.8

1.5

0.3

1.4

0.5

Inc Tax Ex Impact of Sp Items

86.6

31.4

24.3

39.3

19.2

Normalized Income After Tax

109.3

35.8

29.8

52.1

23.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

109.0

35.5

28.7

50.6

22.3

 

 

 

 

 

 

Basic Normalized EPS

1.21

0.40

0.32

0.52

0.22

Diluted Normalized EPS

1.21

0.40

0.32

0.52

0.22

Rental Expenses

27.4

23.1

23.9

20.7

16.2

Research & Development Exp, Supplemental

38.0

32.8

27.4

25.0

19.7

Reported Operating Profit

192.9

66.5

53.8

88.4

41.7

Reported Ordinary Profit

195.9

67.3

54.5

89.9

42.8

Normalized EBIT

192.9

66.5

53.8

88.4

41.7

Normalized EBITDA

209.4

103.8

91.4

120.2

67.1

    Current Tax - Total

87.7

-

-

-

-

Current Tax - Total

87.7

-

-

-

-

    Deferred Tax - Total

-1.9

-

-

-

-

Deferred Tax - Total

-1.9

-

-

-

-

Income Tax - Total

85.8

-

-

-

-

Other Pension, Net - Domestic

4.9

4.3

3.8

3.1

2.3

Domestic Pension Plan Expense

4.9

4.3

3.8

3.1

2.3

Defined Contribution Expense - Domestic

7.2

6.4

5.5

4.5

3.2

Total Pension Expense

12.0

10.8

9.3

7.6

5.5

Total Plan Other Expense

4.9

4.3

3.8

3.1

2.3

 

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

233.5

147.9

100.8

128.6

106.0

    Short Term Investments

206.3

96.5

64.2

101.2

150.7

Cash and Short Term Investments

439.8

244.4

165.0

229.8

256.7

        Accounts Receivable - Trade, Gross

434.1

428.6

386.3

328.1

319.2

        Provision for Doubtful Accounts

-0.2

-0.2

-0.4

-0.4

-0.1

    Trade Accounts Receivable - Net

433.9

428.4

385.9

327.7

319.2

Total Receivables, Net

433.9

428.4

385.9

327.7

319.2

    Inventories - Finished Goods

83.0

100.5

96.2

77.3

93.6

    Inventories - Work In Progress

57.6

25.3

19.6

32.9

32.6

    Inventories - Other

1.2

0.2

0.7

0.1

0.1

Total Inventory

141.8

126.0

116.4

110.3

126.3

    Deferred Income Tax - Current Asset

21.6

13.2

7.8

13.5

9.1

    Other Current Assets

62.3

55.8

58.6

32.2

21.2

Other Current Assets, Total

83.9

69.0

66.5

45.7

30.4

Total Current Assets

1,099.3

867.7

733.8

713.5

732.5

 

 

 

 

 

 

        Buildings

20.0

18.8

14.6

11.3

10.6

        Machinery/Equipment

294.5

293.9

250.0

222.3

202.9

        Leases

0.0

0.0

0.0

0.0

0.0

    Property/Plant/Equipment - Gross

314.5

312.8

264.6

233.7

213.5

    Accumulated Depreciation

-258.7

-253.8

-207.3

-177.5

-160.5

Property/Plant/Equipment - Net

55.8

59.0

57.2

56.2

53.0

Goodwill, Net

6.1

8.6

9.7

0.0

0.1

Intangibles, Net

11.1

15.1

14.1

14.7

16.7

    LT Investment - Affiliate Companies

3.4

2.6

-

-

-

    LT Investments - Other

2.1

1.8

5.0

7.6

9.5

Long Term Investments

5.5

4.5

5.0

7.6

9.5

Note Receivable - Long Term

0.0

0.0

-0.3

-1.1

-2.3

    Deferred Income Tax - Long Term Asset

19.1

24.6

23.1

22.3

22.3

    Other Long Term Assets

16.9

17.4

16.2

15.3

14.8

Other Long Term Assets, Total

36.0

42.0

39.2

37.6

37.1

Total Assets

1,213.8

996.9

858.8

828.5

846.5

 

 

 

 

 

 

Accounts Payable

181.7

148.4

162.4

142.5

166.0

Accrued Expenses

28.3

25.0

14.5

12.3

7.7

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

0.0

Current Portion - Long Term Debt/Capital Leases

10.2

7.2

5.6

3.5

0.2

    Customer Advances

91.2

78.5

60.1

46.1

44.3

    Income Taxes Payable

69.0

24.6

4.2

34.7

11.9

    Other Payables

16.4

13.9

12.6

14.2

14.8

    Other Current Liabilities

31.3

11.0

10.1

20.7

11.5

Other Current liabilities, Total

207.9

128.0

87.1

115.6

82.5

Total Current Liabilities

428.1

308.7

269.5

273.9

256.3

 

 

 

 

 

 

    Long Term Debt

0.1

0.3

0.0

-

-

    Capital Lease Obligations

12.1

6.1

6.5

3.6

0.2

Total Long Term Debt

12.2

6.4

6.5

3.6

0.2

Total Debt

22.3

13.6

12.0

7.1

0.4

 

 

 

 

 

 

Minority Interest

1.7

1.4

1.0

10.2

8.6

    Reserves

2.7

2.5

0.0

-

-

    Other Long Term Liabilities

0.0

0.0

0.1

0.1

0.6

Other Liabilities, Total

2.7

2.6

0.1

0.1

0.6

Total Liabilities

444.6

319.0

277.1

287.8

265.7

 

 

 

 

 

 

    Common Stock

149.0

148.2

131.4

124.3

123.4

Common Stock

149.0

148.2

131.4

124.3

123.4

Additional Paid-In Capital

236.1

234.7

208.2

197.0

195.4

Retained Earnings (Accumulated Deficit)

576.4

484.8

412.9

381.9

340.3

Treasury Stock - Common

-192.4

-191.3

-173.0

-163.7

-77.4

Unrealized Gain (Loss)

0.0

1.4

2.2

1.2

-0.9

    Other Equity

0.0

-

-

-

-

Other Equity, Total

0.0

-

-

-

-

Total Equity

769.2

677.8

581.7

540.6

580.8

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,213.8

996.9

858.8

828.4

846.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

90.1

90.1

89.7

89.7

99.7

Total Common Shares Outstanding

90.1

90.1

89.7

89.7

99.7

Treasury Shares - Common Stock Primary Issue

20.3

20.3

20.7

20.7

10.7

Employees

2,023

2,010

1,937

1,764

1,570

Number of Common Shareholders

17,656

15,007

16,693

16,651

19,086

Deferred Revenue - Current

91.2

78.5

60.1

46.1

44.3

Total Long Term Debt, Supplemental

0.3

0.5

-

-

-

Long Term Debt Maturing within 1 Year

0.2

0.2

-

-

-

Long Term Debt Maturing in Year 2

0.1

0.2

-

-

-

Long Term Debt Maturing in Year 3

-

0.1

-

-

-

Long Term Debt Maturing in 2-3 Years

0.1

0.3

-

-

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

-

-

-

Total Capital Leases, Supplemental

22.1

13.2

12.0

7.1

0.4

Capital Lease Payments Due in Year 1

10.0

7.0

5.6

3.5

0.2

Capital Lease Payments Due in Year 2

6.7

3.6

4.0

1.9

0.1

Capital Lease Payments Due in Year 3

5.1

1.7

1.9

1.5

0.1

Capital Lease Payments Due in Year 4

0.3

0.5

0.4

0.2

-

Capital Lease Payments Due in Year 5

0.0

0.3

0.1

0.0

-

Capital Lease Payments Due in 2-3 Years

11.7

5.3

6.0

3.3

0.2

Capital Lease Payments Due in 4-5 Years

0.3

0.8

0.5

0.2

-

Cap. Lease Pymts. Due in Year 6 & Beyond

0.0

0.0

0.0

0.0

-

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

194.0

63.9

53.3

88.1

41.6

    Depreciation

32.8

34.9

36.6

31.8

25.4

Depreciation/Depletion

32.8

34.9

36.6

31.8

25.4

    Amortization of Acquisition Costs

2.7

2.4

1.0

0.0

0.0

Amortization

2.7

2.4

1.0

0.0

0.0

    Unusual Items

1.8

3.5

2.3

1.4

1.2

    Equity in Net Earnings (Loss)

-1.4

0.3

0.1

0.0

0.1

    Other Non-Cash Items

0.3

-0.3

-1.4

-1.6

-0.8

Non-Cash Items

0.7

3.6

1.0

-0.2

0.5

    Accounts Receivable

9.7

19.8

-29.9

-3.6

-3.0

    Inventories

-15.7

5.1

0.2

16.7

-17.4

    Other Assets

0.1

-3.7

-5.8

-6.3

-2.8

    Accounts Payable

34.0

-33.7

11.5

-24.3

37.2

    Accrued Expenses

3.2

8.4

1.8

4.2

0.9

    Taxes Payable

7.1

1.9

-6.4

6.4

-1.1

    Other Liabilities

17.4

-3.4

-8.5

7.7

2.4

    Other Operating Cash Flow

-41.3

-4.3

-58.7

-20.8

-16.6

Changes in Working Capital

14.4

-9.9

-95.9

-20.1

-0.3

Cash from Operating Activities

244.6

94.9

-4.0

99.6

67.1

 

 

 

 

 

 

    Purchase of Fixed Assets

-17.6

-16.7

-23.9

-23.0

-23.8

    Purchase/Acquisition of Intangibles

-2.5

-7.0

-3.7

-5.8

-3.8

Capital Expenditures

-20.1

-23.7

-27.6

-28.8

-27.5

    Sale/Maturity of Investment

0.8

2.2

0.6

1.7

0.5

    Investment, Net

-

0.0

1.3

0.0

-

    Purchase of Investments

-0.5

0.0

-22.8

-0.9

-2.4

    Other Investing Cash Flow

-0.1

-0.5

-1.1

-2.4

-0.9

Other Investing Cash Flow Items, Total

0.2

1.6

-21.9

-1.6

-2.8

Cash from Investing Activities

-19.9

-22.0

-49.6

-30.4

-30.3

 

 

 

 

 

 

    Other Financing Cash Flow

-0.2

0.4

0.0

-

-

Financing Cash Flow Items

-0.2

0.4

0.0

-

-

    Cash Dividends Paid - Common

-15.4

-14.1

-19.0

-10.4

-6.9

Total Cash Dividends Paid

-15.4

-14.1

-19.0

-10.4

-6.9

        Sale/Issuance of Common

-

2.7

0.0

-

-

        Repurchase/Retirement of Common

-

-

0.0

-84.3

-66.7

    Common Stock, Net

-

2.7

0.0

-84.3

-66.7

Issuance (Retirement) of Stock, Net

-

2.7

0.0

-84.3

-66.7

        Short Term Debt Reduction

-

-

-

-

0.0

    Short Term Debt, Net

-

-

-

-

0.0

        Long Term Debt Reduction

-6.8

-5.5

-5.7

-3.0

0.0

    Long Term Debt, Net

-6.8

-5.5

-5.7

-3.0

0.0

Issuance (Retirement) of Debt, Net

-6.8

-5.5

-5.7

-3.0

0.0

Cash from Financing Activities

-22.4

-16.4

-24.7

-97.6

-73.6

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

0.0

-

-

Net Change in Cash

202.3

56.4

-78.3

-28.4

-36.8

 

 

 

 

 

 

Net Cash - Beginning Balance

256.5

179.9

244.2

254.3

260.3

Net Cash - Ending Balance

458.8

236.4

165.9

225.9

223.5

Cash Interest Paid

0.6

0.5

0.4

0.2

0.0

Cash Taxes Paid

42.0

3.6

58.9

21.3

16.7

 

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Total net sales

1,996.3

1,527.1

1,338.2

1,304.9

977.1

Total Revenue

1,996.3

1,527.1

1,338.2

1,304.9

977.1

 

 

 

 

 

 

    Rounding adjustment Income Statement

0.0

-

-

-

-

    Total cost of sales

1,460.6

1,171.2

1,018.6

980.1

757.4

    Other Selling/General/Admin. Expense

81.5

-

-

-

-

    Bonus

37.2

-

-

-

-

    Salaries And Allowance

117.3

104.0

91.5

86.9

70.5

    Provision Of Reserve For Bonus

22.7

18.6

11.1

8.1

4.0

    Reserve For Bonus Of Director

2.3

1.3

0.7

1.3

0.2

    Bad Debt Exp&Prov of Allow.-Dbt Acct-SGA

-

-

0.2

1.5

-

    Rent Expenses

27.4

23.1

23.9

20.7

16.2

    Depreciation

13.9

15.0

15.8

14.1

11.4

    Amortization Of Goodwill

2.7

2.4

1.0

0.0

0.0

    Research and Development Expense(in SGA)

38.0

-

-

-

-

    Research & Development

-

32.8

27.4

25.0

19.7

    Other SGA

-

92.0

94.1

78.8

55.9

    Rev.Allow.Doubt.Acct.

0.0

-0.4

-1.1

-0.1

0.0

    Reval-Subscri.Right

-

-

-

-

0.9

    SP L.Retire.Fix Asset

1.8

1.9

1.8

0.6

-

    SP L on Reval-Invest.Sec

0.0

0.1

0.0

2.2

0.2

    SP L. valuation affiliate stock

0.0

0.6

0.0

-

0.0

    SP Affiliate office relocation

-

-

-

-

0.0

    SP Suspention office relocation

-

-

-

-

0.0

    SP Reserve for affiliated comp' loss

-

-

0.0

0.3

0.0

    SP Adjust. L on acct. assets change

0.0

1.0

0.0

-

-

    Other SP Loss

0.1

0.2

0.0

0.2

-

Total Operating Expense

1,805.4

1,463.9

1,285.0

1,219.7

936.4

 

 

 

 

 

 

    NOP Interest Earned

0.4

0.2

0.7

1.2

1.0

    Equity in earnings of affiliates

1.4

-

-

-

-

    Foreign Exchange Gains

0.3

-

-

-

-

    Loss On Sales Of Stocks Of Subsidiaries

0.0

-

-

-

-

    NOP Dividend Earned

-

0.0

0.0

0.0

0.0

    Provision of allowance for doubtful acco

-0.2

-

-

-

-

    Other Non-Operating Income (Expense)

0.0

-

-

-

-

    NOP Affiliate business outsource

-

0.0

0.0

0.0

0.0

    Sales Incentive

0.9

0.6

0.0

-

-

    NOP Gain, Equity Method

-

0.0

0.0

0.0

0.0

    NOP Exchange Gain

-

0.0

-

-

-

    Dividends income of group insurance

0.2

0.5

0.3

0.4

0.1

    NOP G on investment in closely-held

-

-

0.0

0.1

0.0

    NOP Income tax refunds

0.0

0.3

0.0

-

-

    NOP Other Non-Op. Income

0.8

0.4

0.5

0.6

0.4

    NOP Interest Expense

-0.6

-0.5

-0.4

-0.2

0.0

    NOP Equity Loss

0.0

-0.3

-0.1

0.0

-0.1

    NOP Commission exp.-treasury stk purch.

-

-

0.0

0.0

-0.1

    NOP Prov. of allowance for doubtful acco

-

0.0

-

-

-

    NOP Exchange Loss

0.0

-0.2

-0.1

-0.3

-0.2

    NOP Commit. Fee

-

-

-

-

0.0

    NOP L.Manag.Inv.Contrib.

-

-

-

0.0

-0.1

    NOP Business startup expenditure

-

-

0.0

0.0

0.0

    NOP Opening expenses

-

-

0.0

-0.1

0.0

    NOP Loss on investments in capital

-0.1

-0.1

-0.1

0.0

-

    NOP Other Non-Op.Expense

0.0

-0.1

0.0

0.0

0.0

    SP G.Change Equity SP

-

-

-

0.0

0.0

    SP G on sale of inv't secs

0.0

0.0

0.0

1.5

0.0

    SP L.Sale Inv.Secs.

-

0.0

-0.5

-0.1

0.0

    SP Loss-liquidation of affiliates

-

0.0

-0.1

0.0

-

    SP L on sales of stocks of subsidiaries

-

0.0

-

0.0

-0.1

    Rounding

0.0

-

-

-

-

Net Income Before Taxes

194.0

64.0

53.4

88.1

41.6

 

 

 

 

 

 

Total income taxes

85.8

29.9

23.9

37.9

18.8

Net Income After Taxes

108.2

34.1

29.4

50.2

22.8

 

 

 

 

 

 

    Minority interests in income

-0.3

-0.3

-1.0

-1.5

-1.1

Net Income Before Extra. Items

107.9

33.8

28.4

48.8

21.7

Net Income

107.9

33.8

28.4

48.8

21.7

 

 

 

 

 

 

    Earning Adjustment

-

-0.1

0.0

0.0

0.0

Income Available to Com Excl ExtraOrd

107.9

33.7

28.3

48.7

21.7

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

107.9

33.7

28.3

48.7

21.7

 

 

 

 

 

 

Basic Weighted Average Shares

90.1

89.8

89.7

96.7

103.6

Basic EPS Excluding ExtraOrdinary Items

1.20

0.38

0.32

0.50

0.21

Basic EPS Including ExtraOrdinary Item

1.20

0.38

0.32

0.50

0.21

Dilution Adjustment

-

0.0

0.0

0.0

0.0

Diluted Net Income

107.9

33.7

28.3

48.7

21.7

Diluted Weighted Average Shares

90.1

89.8

89.7

96.7

103.6

Diluted EPS Excluding ExtraOrd Items

1.20

0.38

0.32

0.50

0.21

Diluted EPS Including ExtraOrd Items

1.20

0.38

0.32

0.50

0.21

DPS-Common Stock

0.39

0.13

0.17

0.16

0.09

Gross Dividends - Common Stock

35.4

11.5

15.4

14.7

8.7

Normalized Income Before Taxes

195.9

67.3

54.1

91.3

42.7

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

86.6

31.4

24.3

39.3

19.2

Normalized Income After Taxes

109.3

35.8

29.8

52.1

23.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

109.0

35.5

28.7

50.6

22.3

 

 

 

 

 

 

Basic Normalized EPS

1.21

0.40

0.32

0.52

0.22

Diluted Normalized EPS

1.21

0.40

0.32

0.52

0.22

Rent Expenses

27.4

23.1

23.9

20.7

16.2

Research and Development Expense(in SGA)

38.0

-

-

-

-

Total Research And Development Expense

-

32.8

27.4

25.0

19.7

Interest Expense

0.6

0.5

0.4

0.2

0.0

Amortization Of Goodwill

2.7

2.4

1.0

0.0

0.0

Depreciation

13.9

-

-

-

-

Depreciation

-

34.9

36.6

31.8

25.4

    Income taxes-current

87.7

-

-

-

-

Current Tax - Total

87.7

-

-

-

-

    Income taxes-deferred

-1.9

-

-

-

-

Deferred Tax - Total

-1.9

-

-

-

-

Income Tax - Total

85.8

-

-

-

-

Reported Operating Profit

192.9

66.5

53.8

88.4

41.7

Reported Ordinary Profit

195.9

67.3

54.5

89.9

42.8

Multi fund contribution

4.9

4.3

3.8

3.1

2.3

Domestic Pension Plan Expense

4.9

4.3

3.8

3.1

2.3

Defined contribution exp

7.2

6.4

5.5

4.5

3.2

Total Pension Expense

12.0

10.8

9.3

7.6

5.5

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

UpdateType/Date

Updated Normal 
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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and Deposit

233.5

147.9

100.8

128.6

106.0

    Notes and accounts receivable-trade

434.1

428.6

386.3

328.1

319.2

    Short-term investment securities

206.3

96.5

64.2

101.2

150.7

    Inventories - merchandise

76.5

97.0

92.2

71.8

89.6

    Inventories - stock in transit

6.5

3.5

3.9

5.6

4.0

    Inventories - construc.-in-process

57.6

25.3

19.6

32.9

32.6

    Inventories - supplies

1.2

0.2

0.7

0.1

0.1

    Dfd. Income Tax

21.6

13.2

7.8

13.5

9.1

    Rounding adjustment Assets

0.0

-

-

-

-

    Other Current

62.2

55.8

58.6

32.2

21.2

    Doubtful Account

-0.2

-0.2

-0.4

-0.4

-0.1

Total Current Assets

1,099.3

867.7

733.8

713.5

732.5

 

 

 

 

 

 

    Bldg.

20.0

18.8

14.6

11.3

10.6

    Accumulated depreciation

0.0

-

-

-

-

    Accumulated depreciation

-10.4

-8.4

-5.4

-5.8

-5.3

    Tools, furniture and fixtures

294.5

293.9

250.0

222.3

202.9

    Accumulated depreciation

-248.3

-245.4

-201.9

-171.7

-155.1

    Property for lease

0.0

0.0

0.0

0.0

0.0

    Dpre.-Lease Assets

-

0.0

0.0

0.0

0.0

    Goodwill

6.1

8.6

9.7

0.0

0.1

    Other Intang.

11.1

15.1

14.1

14.7

16.7

    other investment

2.1

-

-

-

-

    Investment Sec.

-

1.8

5.0

7.6

9.5

    Invt Secs Noncons, Asc, Affd Cos

3.4

-

-

-

-

    Equity secs.-nonconsolidated affil.

-

2.6

-

-

-

    Long-term loans receivable

0.2

0.2

0.2

0.1

0.1

    Deferred tax assets

19.1

24.6

23.1

22.3

22.3

    Other Other Long Term Assets

0.0

-

-

-

-

    Other Asset

16.9

17.4

16.2

15.3

14.8

    Doubtful Account

-0.2

-0.2

-0.5

-1.2

-2.4

    Other Plant/machinery, Net

0.0

-

-

-

-

    Other PPE, net

0.0

-

-

-

-

    Other Buildings, Net

0.0

-

-

-

-

Total Assets

1,213.8

996.9

858.8

828.5

846.5

 

 

 

 

 

 

    Accounts payable-trade

181.7

148.4

162.4

142.5

166.0

    Cur.Port.LT Debt

0.2

0.2

0.0

-

-

    Lease liabilities

10.0

7.0

5.6

3.5

0.2

    ST Debt

-

0.0

0.0

-

-

    Accounts payable-other

16.4

13.9

12.6

14.2

14.8

    Income Tax Pybl.

69.0

24.6

4.2

34.7

11.9

    Advanced received

91.2

78.5

60.1

46.1

44.3

    Allowance-Bonus

26.2

23.7

13.8

10.6

7.4

    Provision for directors'' bonuses

2.2

1.3

0.7

1.4

0.3

    Allow affiliates liquid

-

-

0.0

0.3

0.0

    Rounding adjustment Liability

0.0

-

-

-

-

    Other Current

31.3

11.0

10.1

20.7

11.5

Total Current Liabilities

428.1

308.7

269.5

273.9

256.3

 

 

 

 

 

 

    Lease obligations

12.1

6.1

6.5

3.6

0.2

    Long Term borrowing

0.1

0.3

0.0

-

-

Total Long Term Debt

12.2

6.4

6.5

3.6

0.2

 

 

 

 

 

 

    Asset retirement obligations

2.7

2.5

0.0

-

-

    Rounding adjustment Liability

0.0

-

-

-

-

    LT Pybl.

-

0.0

0.0

0.0

0.5

    Other Fix Liab.

-

0.0

0.1

0.1

0.1

    Minor. Interest

1.7

1.4

1.0

10.2

8.6

Total Liabilities

444.6

319.0

277.1

287.8

265.7

 

 

 

 

 

 

    Other Equity

0.0

-

-

-

-

    Common Stock

149.0

148.2

131.4

124.3

123.4

    Total capital surpluses

236.1

234.7

208.2

197.0

195.4

    Total retained earnings

576.4

484.8

412.9

381.9

340.3

    Repurchased Stk.

-192.4

-191.3

-173.0

-163.7

-77.4

    Valuation difference on available-for-sa

-0.2

-0.2

-0.1

-0.1

0.6

    Deferred hedge

0.2

1.6

2.3

1.3

-1.5

Total Equity

769.2

677.8

581.7

540.6

580.8

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

1,213.8

996.9

858.8

828.4

846.5

 

 

 

 

 

 

    S/O-Common Stock

90.1

90.1

89.7

89.7

99.7

Total Common Shares Outstanding

90.1

90.1

89.7

89.7

99.7

T/S-Common Stock

20.3

20.3

20.7

20.7

10.7

Customer advance

91.2

78.5

60.1

46.1

44.3

Total Number of Employee

2,023

-

-

-

-

Full-Time Employees

-

2,010

1,937

1,764

1,570

Total Number of Shareholders

17,656

-

-

-

-

Number of Common Shareholders

-

15,007

16,693

16,651

19,086

Loans Payable Maturing within a Year

0.2

0.2

-

-

-

Lns Pble Maturing over a Yr within 2 Yrs

0.1

-

-

-

-

Loans Payable Maturing within a Year

-

0.2

-

-

-

Long Term Debt Maturing in Year 3

-

0.1

-

-

-

Long Term Debt - Remaining Maturities

-

0.0

-

-

-

Total Long Term Debt, Supplemental

0.3

0.5

-

-

-

Capital Lease Maturing within a Year

10.0

7.0

5.6

3.5

0.2

Cap Lease Maturg over a Yr within 2 Yrs

6.7

-

-

-

-

Lease payment due 2 year

-

3.6

4.0

1.9

0.1

Cap Lease Maturg over 2 Yr within 3 Yrs

5.1

-

-

-

-

Lease payment due 3 year

-

1.7

1.9

1.5

0.1

Cap Lease Maturg over 3 Yr within 4 Yrs

0.3

-

-

-

-

Lease payment due 4 year

-

0.5

0.4

0.2

-

Cap Lease Maturg over 4 Yr within 5 Yrs

0.0

-

-

-

-

Lease payment due 5 year

-

0.3

0.1

0.0

-

Capital Lease Remaining

0.0

-

-

-

-

Lease payment remaining maturities

-

0.0

0.0

0.0

-

Total Capital Leases

22.1

13.2

12.0

7.1

0.4

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Income Before Tax

194.0

63.9

53.3

88.1

41.6

    Depreciation

32.8

34.9

36.6

31.8

25.4

    Loss (gain) on sales of stocks of subsid

0.0

-

-

-

-

    Amort., goodwill

2.7

2.4

1.0

0.0

0.0

    Increase (decrease) in provision for bon

2.4

7.9

2.6

3.1

0.9

    Increase (decrease) in provision for dir

0.9

0.5

-0.7

1.1

0.0

    Res affiliates liquid loss

-

0.0

-0.3

0.3

0.0

    Increase (decrease) in allowance for dou

0.1

-0.6

-0.9

-0.9

0.2

    Int. and Div. Income

-0.4

-0.2

-0.7

-1.2

-1.0

    Equity in (earnings) losses of affiliate

-1.4

0.3

0.1

0.0

0.1

    Interest expenses

0.6

0.5

0.4

0.2

0.0

    Adust. L on acct. assets change

-

1.0

0.0

-

-

    Sale-Invest.Sec. gain

-

0.0

-

-1.4

0.0

    Loss (gain) on sales of investment secur

0.0

0.0

0.5

-

-

    Loss (gain) on valuation of investment s

0.0

0.1

0.0

2.2

0.2

    Loss Sale Affiliate Stock

-

0.0

-

0.0

0.1

    Loss valuation affiliat sec

-

0.6

0.0

-

0.0

    L.Retire.Fix Asset

1.8

1.9

1.8

0.6

0.9

    Decrease (increase) in notes and account

9.7

17.4

-27.7

-3.6

-3.0

    Decrease (increase) in inventories

-15.7

5.1

0.2

16.7

-17.4

    Sales Tax Rcvbl.

-

2.5

-2.2

-0.1

0.0

    Decrease (increase) in other current ass

0.1

-3.7

-5.8

-6.3

-2.8

    Increase (decrease) in notes and account

34.0

-33.7

11.5

-24.3

37.2

    Increase (decrease) in accrued consumpti

7.1

1.9

-6.4

6.4

-1.1

    Increase (decrease) in other current lia

17.4

-3.4

-8.5

7.7

2.4

    Other Operating Cash Flow

0.1

-

-

-

-

    Pymt-Directors Bonus

-

-

-

-

0.0

    Other, net

-0.1

-1.7

-0.9

-1.0

-1.4

    Int. and Div. Rcvd.

0.3

0.3

0.8

1.2

1.0

    Interest Paid

-0.6

-0.5

-0.4

-0.2

0.0

    Income taxes (paid) refund

-42.0

-3.6

-58.9

-21.3

-16.7

    Other, net

0.9

1.3

0.8

0.5

0.5

    Adjustment

-

0.0

-

-

-

Cash from Operating Activities

244.6

94.9

-4.0

99.6

67.1

 

 

 

 

 

 

    Proceeds From Sales Of Stocks Of Subsidi

0.8

-

-

-

-

    Collection Of Investments In Capital

0.0

-

-

-

-

    Purchase of property, plant and equipmen

-17.6

-16.7

-23.9

-23.0

-23.8

    Purch-Intang.Asset

-2.5

-7.0

-3.7

-5.8

-3.8

    Purch-Invest. Sec.

-0.3

0.0

-1.1

0.0

-1.7

    Sale-Invest. Sec

0.0

2.2

0.6

1.7

0.2

    Estblsh. a sub.

-

-

0.0

-0.5

0.0

    Sale of Affiliate Stock

-

0.0

-

-

-

    Purch of Affiliate Stock

-0.3

0.0

-21.8

-0.9

-0.6

    Loan made

-0.4

-0.2

-1.2

-0.1

-0.1

    Loan collected

0.2

0.2

0.7

0.1

0.1

    Purch.Subsid.Stock

-

0.0

1.3

0.0

-

    Closely-held inv'ts made

-

0.0

0.0

0.0

0.0

    Closely-held inv'ts redeemed

-

0.0

0.0

0.0

0.2

    Other, net

0.1

-0.5

-0.6

-1.9

-0.8

Cash from Investing Activities

-19.9

-22.0

-49.6

-30.4

-30.3

    Pymt-ST Debt

-

-

-

-

0.0

    Lease payables

-6.8

-5.5

-5.7

-3.0

0.0

    Rounding adjustment Cash flow

0.0

-

-

-

-

    Purch.Treas.Stock

-

-

0.0

-84.3

-66.7

    Treasury stock disposal

-

2.7

0.0

-

-

    Dividends Paid

-15.4

-14.1

-19.0

-10.4

-6.9

    Other, net

-0.2

0.4

0.0

-

-

Cash from Financing Activities

-22.4

-16.4

-24.7

-97.6

-73.6

Foreign Exchange Effects

0.0

0.0

0.0

-

-

Net Change in Cash

202.3

56.4

-78.3

-28.4

-36.8

 

 

 

 

 

 

Net Cash - Beginning Balance

256.5

179.9

244.2

254.3

260.3

Net Cash - Ending Balance

458.8

236.4

165.9

225.9

223.5

    Cash Interest Paid

0.6

0.5

0.4

0.2

0.0

   Cash Taxes Paid

42.0

3.6

58.9

21.3

16.7

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

575.3

8.68%

1,996.3

20.46%

6.33%

7.60%

Research & Development1

-

-

38.0

6.61%

6.04%

8.92%

Operating Income1

58.2

57.69%

191.0

178.54%

20.77%

24.31%

Income Available to Common Excl Extraord Items1

32.5

51.80%

107.9

194.71%

20.27%

24.12%

Basic EPS Excl Extraord Items1

0.36

51.79%

1.20

193.74%

23.12%

29.25%

Capital Expenditures2

20.1

-

20.1

-21.60%

-18.13%

-11.63%

Cash from Operating Activities2

244.6

-

244.6

137.54%

24.48%

16.20%

Free Cash Flow

215.1

-

215.1

190.43%

35.56%

23.52%

Total Assets3

1,213.8

21.04%

1,213.8

21.04%

6.91%

3.40%

Total Liabilities3

444.6

38.54%

444.6

38.54%

8.82%

12.03%

Total Long Term Debt3

12.2

88.37%

12.2

88.37%

41.28%

-

Employees3

-

-

2023

0.65%

4.67%

7.81%

Total Common Shares Outstanding3

90.1

0.00%

90.1

0.00%

0.15%

-3.97%

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

26.84%

23.30%

23.88%

24.89%

22.49%

Operating Margin

9.57%

4.14%

3.97%

6.53%

4.17%

Pretax Margin

9.72%

4.19%

3.99%

6.75%

4.26%

Net Profit Margin

5.41%

2.21%

2.12%

3.73%

2.22%

Financial Strength

Current Ratio

2.57

2.81

2.72

2.60

2.86

Long Term Debt/Equity

0.02

0.01

0.01

0.01

0.00

Total Debt/Equity

0.03

0.02

0.02

0.01

0.00

Management Effectiveness

Return on Assets

9.36%

3.59%

3.37%

6.08%

3.09%

Return on Equity

14.25%

5.23%

4.89%

8.81%

4.08%

Efficiency

Receivables Turnover

4.43

3.66

3.64

4.09

3.56

Inventory Turnover

10.43

9.42

8.70

8.40

7.48

Asset Turnover

1.73

1.61

1.53

1.58

1.32

Market Valuation USD (mil)

P/E (TTM)

10.46

.

Enterprise Value2

688.7

Price/Sales (TTM)

0.58

.

Enterprise Value/Revenue (TTM)

0.36

Price/Book (MRQ)

1.41

.

Enterprise Value/EBITDA (TTM)

3.46

Market Cap as of 22-Jun-20121

1,135.3

.

 

 

1-ExchangeRate: JPY to USD on 22-Jun-2012

80.143806

 

 

 

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

2.57

2.81

2.72

2.60

2.86

Quick/Acid Test Ratio

2.04

2.18

2.04

2.04

2.25

Working Capital1

671.2

559.1

464.2

439.6

476.2

Long Term Debt/Equity

0.02

0.01

0.01

0.01

0.00

Total Debt/Equity

0.03

0.02

0.02

0.01

0.00

Long Term Debt/Total Capital

0.02

0.01

0.01

0.01

0.00

Total Debt/Total Capital

0.03

0.02

0.02

0.01

0.00

Payout Ratio

32.79%

34.17%

54.49%

31.58%

41.69%

Effective Tax Rate

44.21%

46.73%

44.87%

43.01%

45.12%

Total Capital1

791.5

691.5

593.7

547.7

581.1

 

 

 

 

 

 

Efficiency

Asset Turnover

1.73

1.61

1.53

1.58

1.32

Inventory Turnover

10.43

9.42

8.70

8.40

7.48

Days In Inventory

35.00

38.76

41.96

43.47

48.81

Receivables Turnover

4.43

3.66

3.64

4.09

3.56

Days Receivables Outstanding

82.49

99.81

100.40

89.26

102.49

Revenue/Employee2

945,804

785,509

687,153

752,561

714,706

Operating Income/Employee2

90,481

32,499

27,294

49,130

29,769

EBITDA/Employee2

98,305

51,696

46,593

67,468

48,339

 

 

 

 

 

 

Profitability

Gross Margin

26.84%

23.30%

23.88%

24.89%

22.49%

Operating Margin

9.57%

4.14%

3.97%

6.53%

4.17%

EBITDA Margin

10.39%

6.58%

6.78%

8.97%

6.76%

EBIT Margin

9.57%

4.14%

3.97%

6.53%

4.17%

Pretax Margin

9.72%

4.19%

3.99%

6.75%

4.26%

Net Profit Margin

5.41%

2.21%

2.12%

3.73%

2.22%

R&D Expense/Revenue

1.90%

2.15%

2.05%

1.92%

2.02%

COGS/Revenue

73.16%

76.70%

76.12%

75.11%

77.51%

SG&A Expense/Revenue

14.44%

15.65%

16.56%

15.12%

15.03%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

9.36%

3.59%

3.37%

6.08%

3.09%

Return on Equity

14.25%

5.23%

4.89%

8.81%

4.08%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

2.39

0.82

-0.35

0.80

0.46

Operating Cash Flow/Share 2

2.60

1.09

-0.04

1.13

0.77

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)

10.68

Market Cap/Equity (MRQ)

1.44

Market Cap/Revenue (TTM)

0.58

Market Cap/EBIT (TTM)

6.03

Market Cap/EBITDA (TTM)

5.09

Enterprise Value/Earnings (TTM)

6.66

Enterprise Value/Equity (MRQ)

0.90

Enterprise Value/Revenue (TTM)

0.36

Enterprise Value/EBIT (TTM)

3.76

Enterprise Value/EBITDA (TTM)

3.17

 

 

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,996.3

1,527.1

1,338.2

1,304.9

977.1

Revenue

1,996.3

1,527.1

1,338.2

1,304.9

977.1

Total Revenue

1,996.3

1,527.1

1,338.2

1,304.9

977.1

 

 

 

 

 

 

    Cost of Revenue

1,460.6

1,171.2

1,018.6

980.1

757.4

Cost of Revenue, Total

1,460.6

1,171.2

1,018.6

980.1

757.4

Gross Profit

535.7

355.8

319.6

324.8

219.8

 

 

 

 

 

 

    Selling/General/Administrative Expense

108.9

115.1

118.2

100.9

72.1

    Labor & Related Expense

179.5

123.9

103.3

96.4

74.7

Total Selling/General/Administrative Expenses

288.4

239.0

221.5

197.3

146.9

Research & Development

38.0

32.8

27.4

25.0

19.7

    Depreciation

16.5

17.5

16.8

14.1

11.4

Depreciation/Amortization

16.5

17.5

16.8

14.1

11.4

    Impairment-Assets Held for Use

1.8

1.9

1.8

0.6

0.9

    Impairment-Assets Held for Sale

0.0

0.7

0.0

2.2

0.2

    Other Unusual Expense (Income)

0.1

0.7

-1.1

0.4

0.0

Unusual Expense (Income)

1.9

3.3

0.7

3.2

1.0

    Other Operating Expense

0.0

-

-

-

-

Other Operating Expenses, Total

0.0

-

-

-

-

Total Operating Expense

1,805.4

1,463.9

1,285.0

1,219.7

936.4

 

 

 

 

 

 

Operating Income

191.0

63.2

53.2

85.2

40.7

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.6

-0.5

-0.4

-0.2

0.0

    Interest Expense, Net Non-Operating

-0.6

-0.5

-0.4

-0.2

0.0

        Interest Income - Non-Operating

0.4

0.2

0.7

1.2

1.0

        Investment Income - Non-Operating

1.7

-0.1

-0.5

1.6

-0.4

    Interest/Investment Income - Non-Operating

2.1

0.1

0.2

2.8

0.7

Interest Income (Expense) - Net Non-Operating Total

1.5

-0.4

-0.2

2.6

0.7

Gain (Loss) on Sale of Assets

-

0.0

-0.1

0.0

-

    Other Non-Operating Income (Expense)

1.5

1.2

0.5

0.4

0.2

Other, Net

1.5

1.2

0.5

0.4

0.2

Income Before Tax

194.0

64.0

53.4

88.1

41.6

 

 

 

 

 

 

Total Income Tax

85.8

29.9

23.9

37.9

18.8

Income After Tax

108.2

34.1

29.4

50.2

22.8

 

 

 

 

 

 

    Minority Interest

-0.3

-0.3

-1.0

-1.5

-1.1

Net Income Before Extraord Items

107.9

33.8

28.4

48.8

21.7

Net Income

107.9

33.8

28.4

48.8

21.7

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-

-0.1

0.0

0.0

0.0

Total Adjustments to Net Income

-

-0.1

0.0

0.0

0.0

Income Available to Common Excl Extraord Items

107.9

33.7

28.3

48.7

21.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

107.9

33.7

28.3

48.7

21.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

90.1

89.8

89.7

96.7

103.6

Basic EPS Excl Extraord Items

1.20

0.38

0.32

0.50

0.21

Basic/Primary EPS Incl Extraord Items

1.20

0.38

0.32

0.50

0.21

Dilution Adjustment

-

0.0

0.0

0.0

0.0

Diluted Net Income

107.9

33.7

28.3

48.7

21.7

Diluted Weighted Average Shares

90.1

89.8

89.7

96.7

103.6

Diluted EPS Excl Extraord Items

1.20

0.38

0.32

0.50

0.21

Diluted EPS Incl Extraord Items

1.20

0.38

0.32

0.50

0.21

Dividends per Share - Common Stock Primary Issue

0.39

0.13

0.17

0.16

0.09

Gross Dividends - Common Stock

35.4

11.5

15.4

14.7

8.7

Interest Expense, Supplemental

0.6

0.5

0.4

0.2

0.0

Depreciation, Supplemental

16.5

37.3

37.6

31.8

25.4

Total Special Items

1.9

3.3

0.7

3.2

1.0

Normalized Income Before Tax

195.9

67.3

54.1

91.3

42.7

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.8

1.5

0.3

1.4

0.5

Inc Tax Ex Impact of Sp Items

86.6

31.4

24.3

39.3

19.2

Normalized Income After Tax

109.3

35.8

29.8

52.1

23.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

109.0

35.5

28.7

50.6

22.3

 

 

 

 

 

 

Basic Normalized EPS

1.21

0.40

0.32

0.52

0.22

Diluted Normalized EPS

1.21

0.40

0.32

0.52

0.22

Rental Expenses

27.4

23.1

23.9

20.7

16.2

Research & Development Exp, Supplemental

38.0

32.8

27.4

25.0

19.7

Reported Operating Profit

192.9

66.5

53.8

88.4

41.7

Reported Ordinary Profit

195.9

67.3

54.5

89.9

42.8

Normalized EBIT

192.9

66.5

53.8

88.4

41.7

Normalized EBITDA

209.4

103.8

91.4

120.2

67.1

    Current Tax - Total

87.7

-

-

-

-

Current Tax - Total

87.7

-

-

-

-

    Deferred Tax - Total

-1.9

-

-

-

-

Deferred Tax - Total

-1.9

-

-

-

-

Income Tax - Total

85.8

-

-

-

-

Other Pension, Net - Domestic

4.9

4.3

3.8

3.1

2.3

Domestic Pension Plan Expense

4.9

4.3

3.8

3.1

2.3

Defined Contribution Expense - Domestic

7.2

6.4

5.5

4.5

3.2

Total Pension Expense

12.0

10.8

9.3

7.6

5.5

Total Plan Other Expense

4.9

4.3

3.8

3.1

2.3

 

 

Interim Income Statement

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

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

575.3

547.4

475.2

402.0

509.8

Revenue

575.3

547.4

475.2

402.0

509.8

Total Revenue

575.3

547.4

475.2

402.0

509.8

 

 

 

 

 

 

    Cost of Revenue

424.9

406.5

339.7

292.1

394.8

Cost of Revenue, Total

424.9

406.5

339.7

292.1

394.8

Gross Profit

150.3

140.9

135.5

109.9

115.0

 

 

 

 

 

 

    Selling/General/Administrative Expense

91.4

85.1

89.6

77.1

37.4

    Labor & Related Expense

-

-

-

-

35.7

Total Selling/General/Administrative Expenses

91.4

85.1

89.6

77.1

73.1

    Depreciation

-

-

-

-

3.9

    Amortization of Acquisition Costs

-

-

-

-

0.6

Depreciation/Amortization

-

-

-

-

4.5

    Impairment-Assets Held for Use

0.7

0.1

0.9

0.1

1.7

    Impairment-Assets Held for Sale

0.0

0.0

0.0

-

0.1

    Other Unusual Expense (Income)

0.1

0.0

0.0

0.0

0.0

Unusual Expense (Income)

0.7

0.1

0.9

0.1

1.9

    Other Operating Expense

0.0

-

-

-

-

Other Operating Expenses, Total

0.0

-

-

-

-

Total Operating Expense

517.1

491.6

430.2

369.3

474.3

 

 

 

 

 

 

Operating Income

58.2

55.7

45.0

32.6

35.6

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.1

-0.1

-0.2

-0.1

-0.1

    Interest Expense, Net Non-Operating

-0.1

-0.1

-0.2

-0.1

-0.1

        Interest Income - Non-Operating

0.1

0.1

0.1

0.1

0.1

        Investment Income - Non-Operating

-0.1

-0.1

1.3

0.6

0.2

    Interest/Investment Income - Non-Operating

0.0

0.0

1.4

0.7

0.3

Interest Income (Expense) - Net Non-Operating Total

-0.1

-0.1

1.2

0.5

0.1

Gain (Loss) on Sale of Assets

-

-

-

-

0.0

    Other Non-Operating Income (Expense)

0.9

0.1

0.0

0.4

0.5

Other, Net

0.9

0.1

0.0

0.4

0.5

Income Before Tax

59.0

55.8

46.3

33.6

36.1

 

 

 

 

 

 

Total Income Tax

26.5

26.0

19.3

14.3

15.6

Income After Tax

32.5

29.8

27.0

19.3

20.5

 

 

 

 

 

 

    Minority Interest

0.0

-0.1

-0.1

-0.2

0.1

Net Income Before Extraord Items

32.5

29.7

26.9

19.1

20.6

Net Income

32.5

29.7

26.9

19.1

20.6

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-

0.0

0.0

0.0

0.0

Total Adjustments to Net Income

-

0.0

0.0

0.0

0.0

Income Available to Common Excl Extraord Items

32.5

29.7

26.9

19.1

20.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

32.5

29.7

26.9

19.1

20.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

90.1

90.1

90.1

90.1

90.1

Basic EPS Excl Extraord Items

0.36

0.33

0.30

0.21

0.23

Basic/Primary EPS Incl Extraord Items

0.36

0.33

0.30

0.21

0.23

Dilution Adjustment

-

0.0

0.0

0.0

0.0

Diluted Net Income

32.5

29.7

26.9

19.1

20.6

Diluted Weighted Average Shares

90.1

90.1

90.1

90.1

90.1

Diluted EPS Excl Extraord Items

0.36

0.33

0.30

0.21

0.23

Diluted EPS Incl Extraord Items

0.36

0.33

0.30

0.21

0.23

Dividends per Share - Common Stock Primary Issue

0.29

0.00

0.10

0.00

0.07

Gross Dividends - Common Stock

26.2

0.0

9.3

0.0

6.0

Interest Expense, Supplemental

0.1

0.1

0.2

0.1

0.1

Depreciation, Supplemental

9.0

8.7

8.1

7.0

9.9

Total Special Items

1.4

0.8

1.6

0.8

2.5

Normalized Income Before Tax

60.4

56.5

47.9

34.3

38.7

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.3

0.0

0.4

0.1

0.8

Inc Tax Ex Impact of Sp Items

26.8

26.0

19.7

14.3

16.4

Normalized Income After Tax

33.6

30.5

28.2

20.0

22.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

33.6

30.4

28.1

19.8

22.3

 

 

 

 

 

 

Basic Normalized EPS

0.37

0.34

0.31

0.22

0.25

Diluted Normalized EPS

0.37

0.34

0.31

0.22

0.25

Amort of Acquisition Costs, Supplemental

0.7

0.7

0.7

0.6

0.6

Rental Expenses

-

-

-

-

5.8

Reported Operating Profit

58.9

55.8

45.9

32.8

37.4

Reported Ordinary Profit

59.7

55.8

47.2

33.7

38.0

Normalized EBIT

58.9

55.8

45.9

32.8

37.4

Normalized EBITDA

68.6

65.2

54.7

40.4

48.0

    Current Tax - Total

36.4

-

-

-

-

Current Tax - Total

36.4

-

-

-

-

    Deferred Tax - Total

-9.9

-

-

-

-

Deferred Tax - Total

-9.9

-

-

-

-

Income Tax - Total

26.5

-

-

-

-

 

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

233.5

147.9

100.8

128.6

106.0

    Short Term Investments

206.3

96.5

64.2

101.2

150.7

Cash and Short Term Investments

439.8

244.4

165.0

229.8

256.7

        Accounts Receivable - Trade, Gross

434.1

428.6

386.3

328.1

319.2

        Provision for Doubtful Accounts

-0.2

-0.2

-0.4

-0.4

-0.1

    Trade Accounts Receivable - Net

433.9

428.4

385.9

327.7

319.2

Total Receivables, Net

433.9

428.4

385.9

327.7

319.2

    Inventories - Finished Goods

83.0

100.5

96.2

77.3

93.6

    Inventories - Work In Progress

57.6

25.3

19.6

32.9

32.6

    Inventories - Other

1.2

0.2

0.7

0.1

0.1

Total Inventory

141.8

126.0

116.4

110.3

126.3

    Deferred Income Tax - Current Asset

21.6

13.2

7.8

13.5

9.1

    Other Current Assets

62.3

55.8

58.6

32.2

21.2

Other Current Assets, Total

83.9

69.0

66.5

45.7

30.4

Total Current Assets

1,099.3

867.7

733.8

713.5

732.5

 

 

 

 

 

 

        Buildings

20.0

18.8

14.6

11.3

10.6

        Machinery/Equipment

294.5

293.9

250.0

222.3

202.9

        Leases

0.0

0.0

0.0

0.0

0.0

    Property/Plant/Equipment - Gross

314.5

312.8

264.6

233.7

213.5

    Accumulated Depreciation

-258.7

-253.8

-207.3

-177.5

-160.5

Property/Plant/Equipment - Net

55.8

59.0

57.2

56.2

53.0

Goodwill, Net

6.1

8.6

9.7

0.0

0.1

Intangibles, Net

11.1

15.1

14.1

14.7

16.7

    LT Investment - Affiliate Companies

3.4

2.6

-

-

-

    LT Investments - Other

2.1

1.8

5.0

7.6

9.5

Long Term Investments

5.5

4.5

5.0

7.6

9.5

Note Receivable - Long Term

0.0

0.0

-0.3

-1.1

-2.3

    Deferred Income Tax - Long Term Asset

19.1

24.6

23.1

22.3

22.3

    Other Long Term Assets

16.9

17.4

16.2

15.3

14.8

Other Long Term Assets, Total

36.0

42.0

39.2

37.6

37.1

Total Assets

1,213.8

996.9

858.8

828.5

846.5

 

 

 

 

 

 

Accounts Payable

181.7

148.4

162.4

142.5

166.0

Accrued Expenses

28.3

25.0

14.5

12.3

7.7

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

0.0

Current Portion - Long Term Debt/Capital Leases

10.2

7.2

5.6

3.5

0.2

    Customer Advances

91.2

78.5

60.1

46.1

44.3

    Income Taxes Payable

69.0

24.6

4.2

34.7

11.9

    Other Payables

16.4

13.9

12.6

14.2

14.8

    Other Current Liabilities

31.3

11.0

10.1

20.7

11.5

Other Current liabilities, Total

207.9

128.0

87.1

115.6

82.5

Total Current Liabilities

428.1

308.7

269.5

273.9

256.3

 

 

 

 

 

 

    Long Term Debt

0.1

0.3

0.0

-

-

    Capital Lease Obligations

12.1

6.1

6.5

3.6

0.2

Total Long Term Debt

12.2

6.4

6.5

3.6

0.2

Total Debt

22.3

13.6

12.0

7.1

0.4

 

 

 

 

 

 

Minority Interest

1.7

1.4

1.0

10.2

8.6

    Reserves

2.7

2.5

0.0

-

-

    Other Long Term Liabilities

0.0

0.0

0.1

0.1

0.6

Other Liabilities, Total

2.7

2.6

0.1

0.1

0.6

Total Liabilities

444.6

319.0

277.1

287.8

265.7

 

 

 

 

 

 

    Common Stock

149.0

148.2

131.4

124.3

123.4

Common Stock

149.0

148.2

131.4

124.3

123.4

Additional Paid-In Capital

236.1

234.7

208.2

197.0

195.4

Retained Earnings (Accumulated Deficit)

576.4

484.8

412.9

381.9

340.3

Treasury Stock - Common

-192.4

-191.3

-173.0

-163.7

-77.4

Unrealized Gain (Loss)

0.0

1.4

2.2

1.2

-0.9

    Other Equity

0.0

-

-

-

-

Other Equity, Total

0.0

-

-

-

-

Total Equity

769.2

677.8

581.7

540.6

580.8

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,213.8

996.9

858.8

828.4

846.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

90.1

90.1

89.7

89.7

99.7

Total Common Shares Outstanding

90.1

90.1

89.7

89.7

99.7

Treasury Shares - Common Stock Primary Issue

20.3

20.3

20.7

20.7

10.7

Employees

2,023

2,010

1,937

1,764

1,570

Number of Common Shareholders

17,656

15,007

16,693

16,651

19,086

Deferred Revenue - Current

91.2

78.5

60.1

46.1

44.3

Total Long Term Debt, Supplemental

0.3

0.5

-

-

-

Long Term Debt Maturing within 1 Year

0.2

0.2

-

-

-

Long Term Debt Maturing in Year 2

0.1

0.2

-

-

-

Long Term Debt Maturing in Year 3

-

0.1

-

-

-

Long Term Debt Maturing in 2-3 Years

0.1

0.3

-

-

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

-

-

-

Total Capital Leases, Supplemental

22.1

13.2

12.0

7.1

0.4

Capital Lease Payments Due in Year 1

10.0

7.0

5.6

3.5

0.2

Capital Lease Payments Due in Year 2

6.7

3.6

4.0

1.9

0.1

Capital Lease Payments Due in Year 3

5.1

1.7

1.9

1.5

0.1

Capital Lease Payments Due in Year 4

0.3

0.5

0.4

0.2

-

Capital Lease Payments Due in Year 5

0.0

0.3

0.1

0.0

-

Capital Lease Payments Due in 2-3 Years

11.7

5.3

6.0

3.3

0.2

Capital Lease Payments Due in 4-5 Years

0.3

0.8

0.5

0.2

-

Cap. Lease Pymts. Due in Year 6 & Beyond

0.0

0.0

0.0

0.0

-

 

 

 

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

233.5

243.2

243.1

197.4

147.9

    Short Term Investments

206.3

143.0

129.7

160.9

96.5

Cash and Short Term Investments

439.8

386.2

372.8

358.3

244.4

        Accounts Receivable - Trade, Gross

434.1

441.0

381.9

328.0

428.6

        Provision for Doubtful Accounts

-0.2

-0.5

-0.4

-0.2

-0.2

    Trade Accounts Receivable - Net

433.9

440.5

381.5

327.8

428.4

Total Receivables, Net

433.9

440.5

381.5

327.8

428.4

    Inventories - Finished Goods

83.0

136.4

121.9

118.4

100.5

    Inventories - Work In Progress

57.6

72.9

50.8

32.2

25.3

    Inventories - Other

1.2

0.4

0.2

0.1

0.2

Total Inventory

141.8

209.7

173.0

150.7

126.0

    Deferred Income Tax - Current Asset

21.6

12.4

18.4

8.1

13.2

    Other Current Assets

62.3

59.7

72.1

66.1

55.8

Other Current Assets, Total

83.9

72.1

90.6

74.2

69.0

Total Current Assets

1,099.3

1,108.5

1,017.9

911.0

867.7

 

 

 

 

 

 

        Machinery/Equipment

-

50.6

52.7

50.4

48.5

    Property/Plant/Equipment - Gross

-

50.6

52.7

50.4

48.5

Property/Plant/Equipment - Net

55.8

60.8

63.1

60.7

59.0

Goodwill, Net

6.1

7.3

7.9

8.2

8.6

Intangibles, Net

11.1

12.5

13.5

14.7

15.1

    LT Investments - Other

5.5

5.4

5.4

4.6

4.5

Long Term Investments

5.5

5.4

5.4

4.6

4.5

Note Receivable - Long Term

0.0

-0.2

-0.2

-0.2

-0.2

    Deferred Income Tax - Long Term Asset

19.1

21.0

25.0

24.5

24.6

    Other Long Term Assets

16.9

18.4

18.6

17.3

17.6

Other Long Term Assets, Total

36.0

39.4

43.6

41.9

42.2

Total Assets

1,213.8

1,233.6

1,151.2

1,040.9

996.9

 

 

 

 

 

 

Accounts Payable

181.7

237.4

166.6

155.0

148.4

Accrued Expenses

28.3

21.1

27.3

12.1

25.0

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

0.0

Current Portion - Long Term Debt/Capital Leases

10.2

7.2

7.6

7.5

7.2

    Customer Advances

91.2

101.7

108.1

109.9

78.5

    Income Taxes Payable

69.0

35.7

36.2

7.3

24.6

    Other Payables

16.4

14.5

13.3

15.3

13.9

    Other Current Liabilities

31.3

15.3

14.8

16.6

11.0

Other Current liabilities, Total

207.9

167.1

172.4

149.1

128.0

Total Current Liabilities

428.1

432.8

374.0

323.8

308.7

 

 

 

 

 

 

    Long Term Debt

0.1

-

-

-

0.3

    Capital Lease Obligations

12.1

5.8

6.4

6.4

6.1

Total Long Term Debt

12.2

5.8

6.4

6.4

6.4

Total Debt

22.3

13.0

14.1

13.9

13.6

 

 

 

 

 

 

Minority Interest

1.7

1.8

1.7

1.6

1.4

    Reserves

2.7

2.8

2.8

2.6

2.5

    Other Long Term Liabilities

0.0

0.2

0.2

0.2

0.0

Other Liabilities, Total

2.7

3.0

3.0

2.9

2.6

Total Liabilities

444.6

443.4

385.1

334.6

319.0

 

 

 

 

 

 

    Common Stock

149.0

159.6

159.3

152.0

148.2

Common Stock

149.0

159.6

159.3

152.0

148.2

Additional Paid-In Capital

236.1

252.8

252.4

240.9

234.7

Retained Earnings (Accumulated Deficit)

576.4

583.7

562.3

510.8

484.8

Treasury Stock - Common

-192.4

-206.1

-205.7

-196.3

-191.3

Unrealized Gain (Loss)

0.0

0.2

-2.2

-1.1

1.4

    Other Equity

0.0

-

-

-

-

Other Equity, Total

0.0

-

-

-

-

Total Equity

769.2

790.2

766.1

706.3

677.8

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,213.8

1,233.7

1,151.2

1,040.9

996.9

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

90.1

90.1

90.1

90.1

90.1

Total Common Shares Outstanding

90.1

90.1

90.1

90.1

90.1

Treasury Shares - Common Stock Primary Issue

20.3

20.3

20.3

20.3

20.3

Employees

2,023

-

-

-

2,010

Deferred Revenue - Current

91.2

101.7

108.1

109.9

78.5

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

194.0

63.9

53.3

88.1

41.6

    Depreciation

32.8

34.9

36.6

31.8

25.4

Depreciation/Depletion

32.8

34.9

36.6

31.8

25.4

    Amortization of Acquisition Costs

2.7

2.4

1.0

0.0

0.0

Amortization

2.7

2.4

1.0

0.0

0.0

    Unusual Items

1.8

3.5

2.3

1.4

1.2

    Equity in Net Earnings (Loss)

-1.4

0.3

0.1

0.0

0.1

    Other Non-Cash Items

0.3

-0.3

-1.4

-1.6

-0.8

Non-Cash Items

0.7

3.6

1.0

-0.2

0.5

    Accounts Receivable

9.7

19.8

-29.9

-3.6

-3.0

    Inventories

-15.7

5.1

0.2

16.7

-17.4

    Other Assets

0.1

-3.7

-5.8

-6.3

-2.8

    Accounts Payable

34.0

-33.7

11.5

-24.3

37.2

    Accrued Expenses

3.2

8.4

1.8

4.2

0.9

    Taxes Payable

7.1

1.9

-6.4

6.4

-1.1

    Other Liabilities

17.4

-3.4

-8.5

7.7

2.4

    Other Operating Cash Flow

-41.3

-4.3

-58.7

-20.8

-16.6

Changes in Working Capital

14.4

-9.9

-95.9

-20.1

-0.3

Cash from Operating Activities

244.6

94.9

-4.0

99.6

67.1

 

 

 

 

 

 

    Purchase of Fixed Assets

-17.6

-16.7

-23.9

-23.0

-23.8

    Purchase/Acquisition of Intangibles

-2.5

-7.0

-3.7

-5.8

-3.8

Capital Expenditures

-20.1

-23.7

-27.6

-28.8

-27.5

    Sale/Maturity of Investment

0.8

2.2

0.6

1.7

0.5

    Investment, Net

-

0.0

1.3

0.0

-

    Purchase of Investments

-0.5

0.0

-22.8

-0.9

-2.4

    Other Investing Cash Flow

-0.1

-0.5

-1.1

-2.4

-0.9

Other Investing Cash Flow Items, Total

0.2

1.6

-21.9

-1.6

-2.8

Cash from Investing Activities

-19.9

-22.0

-49.6

-30.4

-30.3

 

 

 

 

 

 

    Other Financing Cash Flow

-0.2

0.4

0.0

-

-

Financing Cash Flow Items

-0.2

0.4

0.0

-

-

    Cash Dividends Paid - Common

-15.4

-14.1

-19.0

-10.4

-6.9

Total Cash Dividends Paid

-15.4

-14.1

-19.0

-10.4

-6.9

        Sale/Issuance of Common

-

2.7

0.0

-

-

        Repurchase/Retirement of Common

-

-

0.0

-84.3

-66.7

    Common Stock, Net

-

2.7

0.0

-84.3

-66.7

Issuance (Retirement) of Stock, Net

-

2.7

0.0

-84.3

-66.7

        Short Term Debt Reduction

-

-

-

-

0.0

    Short Term Debt, Net

-

-

-

-

0.0

        Long Term Debt Reduction

-6.8

-5.5

-5.7

-3.0

0.0

    Long Term Debt, Net

-6.8

-5.5

-5.7

-3.0

0.0

Issuance (Retirement) of Debt, Net

-6.8

-5.5

-5.7

-3.0

0.0

Cash from Financing Activities

-22.4

-16.4

-24.7

-97.6

-73.6

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

0.0

-

-

Net Change in Cash

202.3

56.4

-78.3

-28.4

-36.8

 

 

 

 

 

 

Net Cash - Beginning Balance

256.5

179.9

244.2

254.3

260.3

Net Cash - Ending Balance

458.8

236.4

165.9

225.9

223.5

Cash Interest Paid

0.6

0.5

0.4

0.2

0.0

Cash Taxes Paid

42.0

3.6

58.9

21.3

16.7

 

 

 

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

194.0

79.5

63.9

28.9

18.6

    Depreciation

32.8

15.1

34.9

25.1

15.9

Depreciation/Depletion

32.8

15.1

34.9

25.1

15.9

    Amortization of Acquisition Costs

2.7

1.3

2.4

1.8

1.1

Amortization

2.7

1.3

2.4

1.8

1.1

    Unusual Items

1.8

1.0

3.5

1.8

1.6

    Equity in Net Earnings (Loss)

-1.4

-1.3

0.3

0.3

0.5

    Other Non-Cash Items

0.3

0.3

-0.3

0.2

0.2

Non-Cash Items

0.7

0.1

3.6

2.2

2.2

    Accounts Receivable

9.7

99.3

19.8

116.1

81.9

    Inventories

-15.7

-36.3

5.1

-56.8

-50.8

    Other Assets

0.1

-15.2

-3.7

-5.4

-8.8

    Accounts Payable

34.0

6.9

-33.7

-52.6

-30.6

    Accrued Expenses

3.2

0.3

8.4

-4.1

3.9

    Taxes Payable

7.1

0.0

1.9

-0.2

-0.6

    Other Liabilities

17.4

-0.4

-3.4

-1.3

-3.1

    Other Operating Cash Flow

-41.3

-24.5

-4.3

-4.5

5.2

Changes in Working Capital

14.4

30.2

-9.9

-8.8

-3.0

Cash from Operating Activities

244.6

126.3

94.9

49.2

34.9

 

 

 

 

 

 

    Purchase of Fixed Assets

-17.6

-9.0

-16.7

-13.1

-7.2

    Purchase/Acquisition of Intangibles

-2.5

-1.8

-7.0

-4.7

-3.2

Capital Expenditures

-20.1

-10.9

-23.7

-17.8

-10.4

    Sale/Maturity of Investment

0.8

0.8

2.2

2.1

2.1

    Investment, Net

-

-

0.0

-

-

    Purchase of Investments

-0.5

-0.3

0.0

0.0

0.0

    Other Investing Cash Flow

-0.1

0.1

-0.5

-0.5

-0.6

Other Investing Cash Flow Items, Total

0.2

0.6

1.6

1.6

1.5

Cash from Investing Activities

-19.9

-10.2

-22.0

-16.2

-8.9

 

 

 

 

 

 

    Other Financing Cash Flow

-0.2

-0.1

0.4

0.5

0.0

Financing Cash Flow Items

-0.2

-0.1

0.4

0.5

0.0

    Cash Dividends Paid - Common

-15.4

-6.2

-14.1

-13.8

-8.0

Total Cash Dividends Paid

-15.4

-6.2

-14.1

-13.8

-8.0

        Sale/Issuance of Common

-

-

2.7

2.7

-

    Common Stock, Net

-

-

2.7

2.7

-

Issuance (Retirement) of Stock, Net

-

-

2.7

2.7

-

        Long Term Debt Reduction

-6.8

-3.3

-5.5

-4.0

-2.6

    Long Term Debt, Net

-6.8

-3.3

-5.5

-4.0

-2.6

Issuance (Retirement) of Debt, Net

-6.8

-3.3

-5.5

-4.0

-2.6

Cash from Financing Activities

-22.4

-9.6

-16.4

-14.7

-10.7

 

 

 

 

 

 

Foreign Exchange Effects

0.0

-

0.0

0.0

-

Net Change in Cash

202.3

106.5

56.4

18.3

15.2

 

 

 

 

 

 

Net Cash - Beginning Balance

256.5

254.2

179.9

177.6

173.3

Net Cash - Ending Balance

458.8

360.7

236.4

195.9

188.5

Cash Interest Paid

0.6

0.3

0.5

0.4

0.2

Cash Taxes Paid

42.0

24.4

3.6

3.6

-5.8

 

 

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Total net sales

1,996.3

1,527.1

1,338.2

1,304.9

977.1

Total Revenue

1,996.3

1,527.1

1,338.2

1,304.9

977.1

 

 

 

 

 

 

    Rounding adjustment Income Statement

0.0

-

-

-

-

    Total cost of sales

1,460.6

1,171.2

1,018.6

980.1

757.4

    Other Selling/General/Admin. Expense

81.5

-

-

-

-

    Bonus

37.2

-

-

-

-

    Salaries And Allowance

117.3

104.0

91.5

86.9

70.5

    Provision Of Reserve For Bonus

22.7

18.6

11.1

8.1

4.0

    Reserve For Bonus Of Director

2.3

1.3

0.7

1.3

0.2

    Bad Debt Exp&Prov of Allow.-Dbt Acct-SGA

-

-

0.2

1.5

-

    Rent Expenses

27.4

23.1

23.9

20.7

16.2

    Depreciation

13.9

15.0

15.8

14.1

11.4

    Amortization Of Goodwill

2.7

2.4

1.0

0.0

0.0

    Research and Development Expense(in SGA)

38.0

-

-

-

-

    Research & Development

-

32.8

27.4

25.0

19.7

    Other SGA

-

92.0

94.1

78.8

55.9

    Rev.Allow.Doubt.Acct.

0.0

-0.4

-1.1

-0.1

0.0

    Reval-Subscri.Right

-

-

-

-

0.9

    SP L.Retire.Fix Asset

1.8

1.9

1.8

0.6

-

    SP L on Reval-Invest.Sec

0.0

0.1

0.0

2.2

0.2

    SP L. valuation affiliate stock

0.0

0.6

0.0

-

0.0

    SP Affiliate office relocation

-

-

-

-

0.0

    SP Suspention office relocation

-

-

-

-

0.0

    SP Reserve for affiliated comp' loss

-

-

0.0

0.3

0.0

    SP Adjust. L on acct. assets change

0.0

1.0

0.0

-

-

    Other SP Loss

0.1

0.2

0.0

0.2

-

Total Operating Expense

1,805.4

1,463.9

1,285.0

1,219.7

936.4

 

 

 

 

 

 

    NOP Interest Earned

0.4

0.2

0.7

1.2

1.0

    Equity in earnings of affiliates

1.4

-

-

-

-

    Foreign Exchange Gains

0.3

-

-

-

-

    Loss On Sales Of Stocks Of Subsidiaries

0.0

-

-

-

-

    NOP Dividend Earned

-

0.0

0.0

0.0

0.0

    Provision of allowance for doubtful acco

-0.2

-

-

-

-

    Other Non-Operating Income (Expense)

0.0

-

-

-

-

    NOP Affiliate business outsource

-

0.0

0.0

0.0

0.0

    Sales Incentive

0.9

0.6

0.0

-

-

    NOP Gain, Equity Method

-

0.0

0.0

0.0

0.0

    NOP Exchange Gain

-

0.0

-

-

-

    Dividends income of group insurance

0.2

0.5

0.3

0.4

0.1

    NOP G on investment in closely-held

-

-

0.0

0.1

0.0

    NOP Income tax refunds

0.0

0.3

0.0

-

-

    NOP Other Non-Op. Income

0.8

0.4

0.5

0.6

0.4

    NOP Interest Expense

-0.6

-0.5

-0.4

-0.2

0.0

    NOP Equity Loss

0.0

-0.3

-0.1

0.0

-0.1

    NOP Commission exp.-treasury stk purch.

-

-

0.0

0.0

-0.1

    NOP Prov. of allowance for doubtful acco

-

0.0

-

-

-

    NOP Exchange Loss

0.0

-0.2

-0.1

-0.3

-0.2

    NOP Commit. Fee

-

-

-

-

0.0

    NOP L.Manag.Inv.Contrib.

-

-

-

0.0

-0.1

    NOP Business startup expenditure

-

-

0.0

0.0

0.0

    NOP Opening expenses

-

-

0.0

-0.1

0.0

    NOP Loss on investments in capital

-0.1

-0.1

-0.1

0.0

-

    NOP Other Non-Op.Expense

0.0

-0.1

0.0

0.0

0.0

    SP G.Change Equity SP

-

-

-

0.0

0.0

    SP G on sale of inv't secs

0.0

0.0

0.0

1.5

0.0

    SP L.Sale Inv.Secs.

-

0.0

-0.5

-0.1

0.0

    SP Loss-liquidation of affiliates

-

0.0

-0.1

0.0

-

    SP L on sales of stocks of subsidiaries

-

0.0

-

0.0

-0.1

    Rounding

0.0

-

-

-

-

Net Income Before Taxes

194.0

64.0

53.4

88.1

41.6

 

 

 

 

 

 

Total income taxes

85.8

29.9

23.9

37.9

18.8

Net Income After Taxes

108.2

34.1

29.4

50.2

22.8

 

 

 

 

 

 

    Minority interests in income

-0.3

-0.3

-1.0

-1.5

-1.1

Net Income Before Extra. Items

107.9

33.8

28.4

48.8

21.7

Net Income

107.9

33.8

28.4

48.8

21.7

 

 

 

 

 

 

    Earning Adjustment

-

-0.1

0.0

0.0

0.0

Income Available to Com Excl ExtraOrd

107.9

33.7

28.3

48.7

21.7

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

107.9

33.7

28.3

48.7

21.7

 

 

 

 

 

 

Basic Weighted Average Shares

90.1

89.8

89.7

96.7

103.6

Basic EPS Excluding ExtraOrdinary Items

1.20

0.38

0.32

0.50

0.21

Basic EPS Including ExtraOrdinary Item

1.20

0.38

0.32

0.50

0.21

Dilution Adjustment

-

0.0

0.0

0.0

0.0

Diluted Net Income

107.9

33.7

28.3

48.7

21.7

Diluted Weighted Average Shares

90.1

89.8

89.7

96.7

103.6

Diluted EPS Excluding ExtraOrd Items

1.20

0.38

0.32

0.50

0.21

Diluted EPS Including ExtraOrd Items

1.20

0.38

0.32

0.50

0.21

DPS-Common Stock

0.39

0.13

0.17

0.16

0.09

Gross Dividends - Common Stock

35.4

11.5

15.4

14.7

8.7

Normalized Income Before Taxes

195.9

67.3

54.1

91.3

42.7

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

86.6

31.4

24.3

39.3

19.2

Normalized Income After Taxes

109.3

35.8

29.8

52.1

23.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

109.0

35.5

28.7

50.6

22.3

 

 

 

 

 

 

Basic Normalized EPS

1.21

0.40

0.32

0.52

0.22

Diluted Normalized EPS

1.21

0.40

0.32

0.52

0.22

Rent Expenses

27.4

23.1

23.9

20.7

16.2

Research and Development Expense(in SGA)

38.0

-

-

-

-

Total Research And Development Expense

-

32.8

27.4

25.0

19.7

Interest Expense

0.6

0.5

0.4

0.2

0.0

Amortization Of Goodwill

2.7

2.4

1.0

0.0

0.0

Depreciation

13.9

-

-

-

-

Depreciation

-

34.9

36.6

31.8

25.4

    Income taxes-current

87.7

-

-

-

-

Current Tax - Total

87.7

-

-

-

-

    Income taxes-deferred

-1.9

-

-

-

-

Deferred Tax - Total

-1.9

-

-

-

-

Income Tax - Total

85.8

-

-

-

-

Reported Operating Profit

192.9

66.5

53.8

88.4

41.7

Reported Ordinary Profit

195.9

67.3

54.5

89.9

42.8

Multi fund contribution

4.9

4.3

3.8

3.1

2.3

Domestic Pension Plan Expense

4.9

4.3

3.8

3.1

2.3

Defined contribution exp

7.2

6.4

5.5

4.5

3.2

Total Pension Expense

12.0

10.8

9.3

7.6

5.5

 

 

 

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

 

 

 

 

 

 

    Total net sales

575.3

547.4

475.2

402.0

509.8

Total Revenue

575.3

547.4

475.2

402.0

509.8

 

 

 

 

 

 

    Rounding adjustment Income Statement

0.0

-

-

-

-

    Total cost of sales

424.9

406.5

339.7

292.1

394.8

    Total SGA

91.4

85.1

89.6

77.1

-

    Salary

-

-

-

-

26.3

    Allowance bonus

-

-

-

-

9.4

    Rental

-

-

-

-

5.8

    Depreciation

-

-

-

-

3.9

    Amortization goodwill

-

-

-

-

0.6

    Other SGA

-

-

-

-

31.6

    Reversal Of Allowance For Doubtful Accou

0.0

-

-

-

-

    Loss on adjustment for changes of accoun

0.0

-

-

-

-

    Other

0.1

-

-

-

-

    SP Rev.Allow.Doubt.Acct.

-

0.0

0.0

0.0

-0.1

    SP Retire.Fix Asset

0.7

0.1

0.9

0.1

1.7

    Loss On Valuation Of Investment Securiti

0.0

-

-

-

-

    Loss on valuation of stocks of subsidiar

0.0

-

-

-

-

    SP L on val. of LT inv't. secs.

-

0.0

0.0

-

0.1

    SP L. valuation affiliate stock

-

0.0

0.0

-

0.0

    SP L adjust. changes of acct. Assets

-

0.0

0.0

0.0

0.0

    SP Other Special Loss

-

-

-

-

0.2

Total Operating Expense

517.1

491.6

430.2

369.3

474.3

 

 

 

 

 

 

    NOP Interest Income

0.1

0.1

0.1

0.1

0.1

    Equity in losses of affiliates

0.0

-

-

-

-

    Foreign Exchange Losses

0.0

-

-

-

-

    NOP Dividend Earned

-

-

-

-

0.0

    NOP Equity gain

0.1

0.0

1.2

0.1

-

    Other

0.0

-

-

-

-

    Rounding adjustment Income Statement

0.0

-

-

-

-

    NOP Outsourcing Income

-

-

-

-

0.0

    NOP Exchange Gain

-

-

-

0.5

0.2

    Sales Incentive

0.6

0.1

0.1

0.1

0.3

    Dividends income of group insurance

0.0

0.0

0.2

-

0.0

    NOP Income tax refunds

-

-

-

-

0.0

    NOP Other Non-Ops. Income

0.2

0.2

0.1

0.3

0.2

    NOP Interest Expense

-0.1

-0.1

-0.2

-0.1

-0.1

    NOP Equity Loss

-0.1

-

-0.1

0.0

0.0

    NOP Investment closely-held loss

-0.1

0.0

0.0

0.0

0.0

    NOP Exchange Loss

-

-0.1

0.0

-

-

    NOP Provision for doubtful accounts

0.1

-0.1

-0.2

-

-

    NOP Other expense

-

-

-

0.0

-

    SP L on sales of investment securities

-

-

-

-

0.0

    SP Loss Sale Affiliates' Stock

0.0

0.0

0.0

-

-

    SP L on liquid of Affiliate

-

-

-

-

0.0

Net Income Before Taxes

59.0

55.8

46.3

33.6

36.1

 

 

 

 

 

 

Total income taxes

26.5

26.0

19.3

14.3

15.6

Net Income After Taxes

32.5

29.8

27.0

19.3

20.5

 

 

 

 

 

 

    Minority interests in income

0.0

-0.1

-0.1

-0.2

0.1

Net Income Before Extra. Items

32.5

29.7

26.9

19.1

20.6

Net Income

32.5

29.7

26.9

19.1

20.6

 

 

 

 

 

 

    Earning Adjustment

-

0.0

0.0

0.0

0.0

Income Available to Com Excl ExtraOrd

32.5

29.7

26.9

19.1

20.6

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

32.5

29.7

26.9

19.1

20.6

 

 

 

 

 

 

Basic Weighted Average Shares

90.1

90.1

90.1

90.1

90.1

Basic EPS Excluding ExtraOrdinary Items

0.36

0.33

0.30

0.21

0.23

Basic EPS Including ExtraOrdinary Item

0.36

0.33

0.30

0.21

0.23

Dilution Adjustment

-

0.0

0.0

0.0

0.0

Diluted Net Income

32.5

29.7

26.9

19.1

20.6

Diluted Weighted Average Shares

90.1

90.1

90.1

90.1

90.1

Diluted EPS Excluding ExtraOrd Items

0.36

0.33

0.30

0.21

0.23

Diluted EPS Including ExtraOrd Items

0.36

0.33

0.30

0.21

0.23

DPS-Common Stock

0.29

0.00

0.10

0.00

0.07

Gross Dividends - Common Stock

26.2

0.0

9.3

0.0

6.0

Normalized Income Before Taxes

60.4

56.5

47.9

34.3

38.7

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

26.8

26.0

19.7

14.3

16.4

Normalized Income After Taxes

33.6

30.5

28.2

20.0

22.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

33.6

30.4

28.1

19.8

22.3

 

 

 

 

 

 

Basic Normalized EPS

0.37

0.34

0.31

0.22

0.25

Diluted Normalized EPS

0.37

0.34

0.31

0.22

0.25

Rental expense

-

-

-

-

5.8

Interest Expense

0.1

0.1

0.2

0.1

0.1

Amortization of Goodwill - footnote

0.7

-

-

-

-

Amortization of goodwill

-

0.7

0.7

0.6

0.6

Amort of Tangible Assets-Current Portion

9.0

-

-

-

-

Depreciation

-

8.7

8.1

7.0

9.9

    Income taxes-current

36.4

-

-

-

-

Current Tax - Total

36.4

-

-

-

-

    Income taxes-deferred

-9.9

-

-

-

-

Deferred Tax - Total

-9.9

-

-

-

-

Income Tax - Total

26.5

-

-

-

-

Reported Operating Profit

58.9

55.8

45.9

32.8

37.4

Reported Ordinary income

59.7

55.8

47.2

33.7

38.0

 

 

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and Deposit

233.5

147.9

100.8

128.6

106.0

    Notes and accounts receivable-trade

434.1

428.6

386.3

328.1

319.2

    Short-term investment securities

206.3

96.5

64.2

101.2

150.7

    Inventories - merchandise

76.5

97.0

92.2

71.8

89.6

    Inventories - stock in transit

6.5

3.5

3.9

5.6

4.0

    Inventories - construc.-in-process

57.6

25.3

19.6

32.9

32.6

    Inventories - supplies

1.2

0.2

0.7

0.1

0.1

    Dfd. Income Tax

21.6

13.2

7.8

13.5

9.1

    Rounding adjustment Assets

0.0

-

-

-

-

    Other Current

62.2

55.8

58.6

32.2

21.2

    Doubtful Account

-0.2

-0.2

-0.4

-0.4

-0.1

Total Current Assets

1,099.3

867.7

733.8

713.5

732.5

 

 

 

 

 

 

    Bldg.

20.0

18.8

14.6

11.3

10.6

    Accumulated depreciation

0.0

-

-

-

-

    Accumulated depreciation

-10.4

-8.4

-5.4

-5.8

-5.3

    Tools, furniture and fixtures

294.5

293.9

250.0

222.3

202.9

    Accumulated depreciation

-248.3

-245.4

-201.9

-171.7

-155.1

    Property for lease

0.0

0.0

0.0

0.0

0.0

    Dpre.-Lease Assets

-

0.0

0.0

0.0

0.0

    Goodwill

6.1

8.6

9.7

0.0

0.1

    Other Intang.

11.1

15.1

14.1

14.7

16.7

    other investment

2.1

-

-

-

-

    Investment Sec.

-

1.8

5.0

7.6

9.5

    Invt Secs Noncons, Asc, Affd Cos

3.4

-

-

-

-

    Equity secs.-nonconsolidated affil.

-

2.6

-

-

-

    Long-term loans receivable

0.2

0.2

0.2

0.1

0.1

    Deferred tax assets

19.1

24.6

23.1

22.3

22.3

    Other Other Long Term Assets

0.0

-

-

-

-

    Other Asset

16.9

17.4

16.2

15.3

14.8

    Doubtful Account

-0.2

-0.2

-0.5

-1.2

-2.4

    Other Plant/machinery, Net

0.0

-

-

-

-

    Other PPE, net

0.0

-

-

-

-

    Other Buildings, Net

0.0

-

-

-

-

Total Assets

1,213.8

996.9

858.8

828.5

846.5

 

 

 

 

 

 

    Accounts payable-trade

181.7

148.4

162.4

142.5

166.0

    Cur.Port.LT Debt

0.2

0.2

0.0

-

-

    Lease liabilities

10.0

7.0

5.6

3.5

0.2

    ST Debt

-

0.0

0.0

-

-

    Accounts payable-other

16.4

13.9

12.6

14.2

14.8

    Income Tax Pybl.

69.0

24.6

4.2

34.7

11.9

    Advanced received

91.2

78.5

60.1

46.1

44.3

    Allowance-Bonus

26.2

23.7

13.8

10.6

7.4

    Provision for directors'' bonuses

2.2

1.3

0.7

1.4

0.3

    Allow affiliates liquid

-

-

0.0

0.3

0.0

    Rounding adjustment Liability

0.0

-

-

-

-

    Other Current

31.3

11.0

10.1

20.7

11.5

Total Current Liabilities

428.1

308.7

269.5

273.9

256.3

 

 

 

 

 

 

    Lease obligations

12.1

6.1

6.5

3.6

0.2

    Long Term borrowing

0.1

0.3

0.0

-

-

Total Long Term Debt

12.2

6.4

6.5

3.6

0.2

 

 

 

 

 

 

    Asset retirement obligations

2.7

2.5

0.0

-

-

    Rounding adjustment Liability

0.0

-

-

-

-

    LT Pybl.

-

0.0

0.0

0.0

0.5

    Other Fix Liab.

-

0.0

0.1

0.1

0.1

    Minor. Interest

1.7

1.4

1.0

10.2

8.6

Total Liabilities

444.6

319.0

277.1

287.8

265.7

 

 

 

 

 

 

    Other Equity

0.0

-

-

-

-

    Common Stock

149.0

148.2

131.4

124.3

123.4

    Total capital surpluses

236.1

234.7

208.2

197.0

195.4

    Total retained earnings

576.4

484.8

412.9

381.9

340.3

    Repurchased Stk.

-192.4

-191.3

-173.0

-163.7

-77.4

    Valuation difference on available-for-sa

-0.2

-0.2

-0.1

-0.1

0.6

    Deferred hedge

0.2

1.6

2.3

1.3

-1.5

Total Equity

769.2

677.8

581.7

540.6

580.8

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

1,213.8

996.9

858.8

828.4

846.5

 

 

 

 

 

 

    S/O-Common Stock

90.1

90.1

89.7

89.7

99.7

Total Common Shares Outstanding

90.1

90.1

89.7

89.7

99.7

T/S-Common Stock

20.3

20.3

20.7

20.7

10.7

Customer advance

91.2

78.5

60.1

46.1

44.3

Total Number of Employee

2,023

-

-

-

-

Full-Time Employees

-

2,010

1,937

1,764

1,570

Total Number of Shareholders

17,656

-

-

-

-

Number of Common Shareholders

-

15,007

16,693

16,651

19,086

Loans Payable Maturing within a Year

0.2

0.2

-

-

-

Lns Pble Maturing over a Yr within 2 Yrs

0.1

-

-

-

-

Loans Payable Maturing within a Year

-

0.2

-

-

-

Long Term Debt Maturing in Year 3

-

0.1

-

-

-

Long Term Debt - Remaining Maturities

-

0.0

-

-

-

Total Long Term Debt, Supplemental

0.3

0.5

-

-

-

Capital Lease Maturing within a Year

10.0

7.0

5.6

3.5

0.2

Cap Lease Maturg over a Yr within 2 Yrs

6.7

-

-

-

-

Lease payment due 2 year

-

3.6

4.0

1.9

0.1

Cap Lease Maturg over 2 Yr within 3 Yrs

5.1

-

-

-

-

Lease payment due 3 year

-

1.7

1.9

1.5

0.1

Cap Lease Maturg over 3 Yr within 4 Yrs

0.3

-

-

-

-

Lease payment due 4 year

-

0.5

0.4

0.2

-

Cap Lease Maturg over 4 Yr within 5 Yrs

0.0

-

-

-

-

Lease payment due 5 year

-

0.3

0.1

0.0

-

Capital Lease Remaining

0.0

-

-

-

-

Lease payment remaining maturities

-

0.0

0.0

0.0

-

Total Capital Leases

22.1

13.2

12.0

7.1

0.4

 

 

 

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 and Deposit

233.5

243.2

243.1

197.4

147.9

    Notes and accounts receivable-trade

434.1

441.0

381.9

328.0

428.6

    Short-term investment securities

206.3

143.0

129.7

160.9

96.5

    Inventories - merchandise

76.5

126.4

118.1

113.8

97.0

    Inventories - stock in transit

6.5

10.0

3.8

4.6

3.5

    Inventories - construction-in-process

57.6

72.9

50.8

32.2

25.3

    Inventories - supplies

1.2

0.4

0.2

0.1

0.2

    Deferred tax assets

21.6

12.4

18.4

8.1

13.2

    Rounding adjustment Assets

0.0

-

-

-

-

    Other

62.2

59.7

72.1

66.1

55.8

    Allowance for doubtful accounts

-0.2

-0.5

-0.4

-0.2

-0.2

Total Current Assets

1,099.3

1,108.5

1,017.9

911.0

867.7

 

 

 

 

 

 

    Tools, furniture and fixtures

-

50.6

52.7

50.4

48.5

    Tools, furniture and fixtures, net

46.3

-

-

-

-

    Other PPE

0.0

-

-

-

-

    Other PPE

9.6

10.2

10.4

10.3

10.4

    Goodwill

6.1

7.3

7.9

8.2

8.6

    Other

11.1

-

-

-

-

    Other Intang.

-

12.5

13.5

14.7

15.1

    Investment Sec.

5.5

5.4

5.4

4.6

4.5

    Deferred tax assets

19.1

21.0

25.0

24.5

24.6

    Other

16.9

-

-

-

-

    Other Other Long Term Assets

0.0

-

-

-

-

    Other Investment Sec

-

18.4

18.6

17.3

17.6

    Allowance for doubtful accounts

-0.2

-0.2

-0.2

-0.2

-0.2

    Long-term loans receivable

0.2

-

-

-

-

Total Assets

1,213.8

1,233.6

1,151.2

1,040.9

996.9

 

 

 

 

 

 

    Accounts payable-trade

181.7

237.4

166.6

155.0

148.4

    Lease liab.

10.0

7.2

7.6

7.5

7.0

    Current LT Borrowing

0.2

-

-

-

0.2

    ST Debt

-

-

-

-

0.0

    Accounts payable-other

16.4

14.5

13.3

15.3

13.9

    Income Tax Pybl.

69.0

35.7

36.2

7.3

24.6

    Advance received

91.2

101.7

108.1

109.9

78.5

    Provision for directors'' bonuses

2.2

-

-

-

-

    Allowance-Bonus

26.2

21.1

27.3

12.1

23.7

    Provision for directors bonuses

-

0.0

0.0

0.0

1.3

    Rounding adjustment Liability

0.0

-

-

-

-

    Other

31.3

15.3

14.8

16.6

11.0

Total Current Liabilities

428.1

432.8

374.0

323.8

308.7

 

 

 

 

 

 

    Lease obligations

12.1

5.8

6.4

6.4

6.1

    LT borrowing

0.1

-

-

-

0.3

Total Long Term Debt

12.2

5.8

6.4

6.4

6.4

 

 

 

 

 

 

    Rounding adjustment Liability

0.0

-

-

-

-

    Asset retirement obligations

2.7

2.8

2.8

2.6

2.5

    LT Other Pybl.

-

-

-

-

0.0

    Other Fix Liab.

-

0.2

0.2

0.2

0.0

    Minor. Interest

1.7

1.8

1.7

1.6

1.4

Total Liabilities

444.6

443.4

385.1

334.6

319.0

    Other Equity

0.0

-

-

-

-

    Common Stock

149.0

159.6

159.3

152.0

148.2

    Total capital surpluses

236.1

252.8

252.4

240.9

234.7

    Total retained earnings

576.4

583.7

562.3

510.8

484.8

    Treasury stock

-192.4

-206.1

-205.7

-196.3

-191.3

    Valuation difference on available-for-sa

-0.2

-0.3

-0.2

-0.2

-0.2

    Deferred hedge

0.2

0.4

-1.9

-0.9

1.6

Total Equity

769.2

790.2

766.1

706.3

677.8

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

1,213.8

1,233.7

1,151.2

1,040.9

996.9

 

 

 

 

 

 

    S/O-Common Stock

90.1

90.1

90.1

90.1

90.1

Total Common Shares Outstanding

90.1

90.1

90.1

90.1

90.1

T/S-Common Stock

20.3

20.3

20.3

20.3

20.3

Customer advance

91.2

101.7

108.1

109.9

78.5

Total Number of Employee

2,023

-

-

-

-

Full-Time Employees

-

-

-

-

2,010

 

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

Deloitte Touche Tohmatsu

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

Income Before Tax

194.0

63.9

53.3

88.1

41.6

    Depreciation

32.8

34.9

36.6

31.8

25.4

    Loss (gain) on sales of stocks of subsid

0.0

-

-

-

-

    Amort., goodwill

2.7

2.4

1.0

0.0

0.0

    Increase (decrease) in provision for bon

2.4

7.9

2.6

3.1

0.9

    Increase (decrease) in provision for dir

0.9

0.5

-0.7

1.1

0.0

    Res affiliates liquid loss

-

0.0

-0.3

0.3

0.0

    Increase (decrease) in allowance for dou

0.1

-0.6

-0.9

-0.9

0.2

    Int. and Div. Income

-0.4

-0.2

-0.7

-1.2

-1.0

    Equity in (earnings) losses of affiliate

-1.4

0.3

0.1

0.0

0.1

    Interest expenses

0.6

0.5

0.4

0.2

0.0

    Adust. L on acct. assets change

-

1.0

0.0

-

-

    Sale-Invest.Sec. gain

-

0.0

-

-1.4

0.0

    Loss (gain) on sales of investment secur

0.0

0.0

0.5

-

-

    Loss (gain) on valuation of investment s

0.0

0.1

0.0

2.2

0.2

    Loss Sale Affiliate Stock

-

0.0

-

0.0

0.1

    Loss valuation affiliat sec

-

0.6

0.0

-

0.0

    L.Retire.Fix Asset

1.8

1.9

1.8

0.6

0.9

    Decrease (increase) in notes and account

9.7

17.4

-27.7

-3.6

-3.0

    Decrease (increase) in inventories

-15.7

5.1

0.2

16.7

-17.4

    Sales Tax Rcvbl.

-

2.5

-2.2

-0.1

0.0

    Decrease (increase) in other current ass

0.1

-3.7

-5.8

-6.3

-2.8

    Increase (decrease) in notes and account

34.0

-33.7

11.5

-24.3

37.2

    Increase (decrease) in accrued consumpti

7.1

1.9

-6.4

6.4

-1.1

    Increase (decrease) in other current lia

17.4

-3.4

-8.5

7.7

2.4

    Other Operating Cash Flow

0.1

-

-

-

-

    Pymt-Directors Bonus

-

-

-

-

0.0

    Other, net

-0.1

-1.7

-0.9

-1.0

-1.4

    Int. and Div. Rcvd.

0.3

0.3

0.8

1.2

1.0

    Interest Paid

-0.6

-0.5

-0.4

-0.2

0.0

    Income taxes (paid) refund

-42.0

-3.6

-58.9

-21.3

-16.7

    Other, net

0.9

1.3

0.8

0.5

0.5

    Adjustment

-

0.0

-

-

-

Cash from Operating Activities

244.6

94.9

-4.0

99.6

67.1

    Proceeds From Sales Of Stocks Of Subsidi

0.8

-

-

-

-

    Collection Of Investments In Capital

0.0

-

-

-

-

    Purchase of property, plant and equipmen

-17.6

-16.7

-23.9

-23.0

-23.8

    Purch-Intang.Asset

-2.5

-7.0

-3.7

-5.8

-3.8

    Purch-Invest. Sec.

-0.3

0.0

-1.1

0.0

-1.7

    Sale-Invest. Sec

0.0

2.2

0.6

1.7

0.2

    Estblsh. a sub.

-

-

0.0

-0.5

0.0

    Sale of Affiliate Stock

-

0.0

-

-

-

    Purch of Affiliate Stock

-0.3

0.0

-21.8

-0.9

-0.6

    Loan made

-0.4

-0.2

-1.2

-0.1

-0.1

    Loan collected

0.2

0.2

0.7

0.1

0.1

    Purch.Subsid.Stock

-

0.0

1.3

0.0

-

    Closely-held inv'ts made

-

0.0

0.0

0.0

0.0

    Closely-held inv'ts redeemed

-

0.0

0.0

0.0

0.2

    Other, net

0.1

-0.5

-0.6

-1.9

-0.8

Cash from Investing Activities

-19.9

-22.0

-49.6

-30.4

-30.3

 

 

 

 

 

 

    Pymt-ST Debt

-

-

-

-

0.0

    Lease payables

-6.8

-5.5

-5.7

-3.0

0.0

    Rounding adjustment Cash flow

0.0

-

-

-

-

    Purch.Treas.Stock

-

-

0.0

-84.3

-66.7

    Treasury stock disposal

-

2.7

0.0

-

-

    Dividends Paid

-15.4

-14.1

-19.0

-10.4

-6.9

    Other, net

-0.2

0.4

0.0

-

-

Cash from Financing Activities

-22.4

-16.4

-24.7

-97.6

-73.6

Foreign Exchange Effects

0.0

0.0

0.0

-

-

Net Change in Cash

202.3

56.4

-78.3

-28.4

-36.8

Net Cash - Beginning Balance

256.5

179.9

244.2

254.3

260.3

Net Cash - Ending Balance

458.8

236.4

165.9

225.9

223.5

    Cash Interest Paid

0.6

0.5

0.4

0.2

0.0

    Cash Taxes Paid

42.0

3.6

58.9

21.3

16.7

 

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

194.0

79.5

63.9

28.9

18.6

    Depreciation

32.8

15.1

34.9

25.1

15.9

    Loss (gain) on valuation of investment s

0.0

-

-

-

-

    Loss (gain) on sales of investment secur

0.0

-

-

-

-

    Amort. goodwill

2.7

1.3

2.4

1.8

1.1

    Increase (decrease) in provision for bon

2.4

1.7

7.9

-3.4

4.7

    Increase (decrease) in provision for dir

0.9

-1.4

0.5

-0.8

-0.7

    Increase (decrease) in allowance for dou

0.1

0.2

-0.6

0.0

0.1

    Res affiliates liquid

-

-

0.0

0.0

-

    Int. and Div. Income

-0.4

-0.2

-0.2

-0.2

-0.1

    Equity in (earnings) losses of affiliate

-1.4

-1.3

0.3

0.3

0.5

    Interest expenses

0.6

0.3

0.5

0.4

0.2

    Sale-Investment Sec.L

-

-

0.0

0.0

0.0

    Val-Invest. Sec.

-

0.0

0.1

0.0

0.0

    Loss valuation affiliate stock

-

0.0

0.6

0.6

0.6

    Loss (gain) on sales of stocks of subsid

0.0

0.0

-

-

0.0

    Retire.Fix Asset

1.8

1.0

1.9

0.2

0.1

    L adjust. for changes of acct. assets

-

0.0

1.0

1.0

0.9

    Decrease (increase) in notes and account

9.7

99.3

17.4

114.9

81.0

    Decrease (increase) in inventories

-15.7

-36.3

5.1

-56.8

-50.8

    Sales Tax Rcvbl.

-

0.0

2.5

1.2

0.9

    Decrease (increase) in other current ass

0.1

-15.2

-3.7

-5.4

-8.8

    Increase (decrease) in notes and account

34.0

6.9

-33.7

-52.6

-30.6

    Increase (decrease) in accrued consumpti

7.1

0.0

1.9

-0.2

-0.6

    Increase (decrease) in other current lia

17.4

-0.4

-3.4

-1.3

-3.1

    Other, net

-0.1

-

-

-

-

    Other Operating Cash Flow

0.1

-

-

-

-

    Other operating activities

-

-0.4

-1.7

-1.7

-1.8

    Int. and Div. Rcvd.

0.3

0.1

0.3

0.2

0.1

    Interest Paid

-0.6

-0.3

-0.5

-0.4

-0.2

    Income taxes (paid) refund

-42.0

-24.4

-3.6

-3.6

5.8

    Other, net

0.9

0.4

1.3

0.9

1.3

    Adjustment

-

-

0.0

-

-

Cash from Operating Activities

244.6

126.3

94.9

49.2

34.9

 

 

 

 

 

 

    Purchase of property, plant and equipmen

-17.6

-9.0

-16.7

-13.1

-7.2

    Purch-Intang.Asset

-2.5

-1.8

-7.0

-4.7

-3.2

    Purchase Of Investment Securities

-0.3

-

-

-

-

    Purch-Invest. Sec.

-

-

0.0

0.0

0.0

    Proceeds From Sales Of Investment Securi

0.0

-

-

-

-

    Collection Of Investments In Capital

0.0

-

-

-

-

    Sale-Invest. Sec

-

0.0

2.2

2.1

2.1

    Purchase of affiliated securities

-0.3

-0.3

0.0

0.0

0.0

    Sale Affiliates' Stock

0.8

0.8

0.0

-

0.0

    Purch.Subsid.Stock

-

-

0.0

-

-

    Loan made

-0.4

-0.1

-0.2

-0.2

-0.1

    Loan collected

0.2

0.1

0.2

0.1

0.1

    Closely-held inv'ts made

-

-

0.0

0.0

0.0

    Closely-held inv'ts redeemed

-

0.0

0.0

0.0

-

    Other, net

0.1

0.1

-0.5

-0.5

-0.6

Cash from Investing Activities

-19.9

-10.2

-22.0

-16.2

-8.9

 

 

 

 

 

 

    Lease repaid

-6.8

-3.3

-5.5

-4.0

-2.6

    Rounding adjustment Cash flow

0.0

-

-

-

-

    Treasury stock disposal

-

-

2.7

2.7

-

    Dividends Paid

-15.4

-6.2

-14.1

-13.8

-8.0

    Other, net

-0.2

-0.1

0.4

0.5

0.0

Cash from Financing Activities

-22.4

-9.6

-16.4

-14.7

-10.7

 

 

 

 

 

 

Foreign Exchange Effects

0.0

-

0.0

0.0

-

Net Change in Cash

202.3

106.5

56.4

18.3

15.2

 

 

 

 

 

 

Net Cash - Beginning Balance

256.5

254.2

179.9

177.6

173.3

Net Cash - Ending Balance

458.8

360.7

236.4

195.9

188.5

    Cash Interest Paid

0.6

0.3

0.5

0.4

0.2

    Cash Taxes Paid

42.0

24.4

3.6

3.6

-5.8

 

Business Segments

Financials in: As Reported (mil)

Annual             

           

         

 

External Revenue   USD (mil)

 

31-Mar-12

31-Mar-11

EP business

410.6

20.6 %

342.5

22.4 %

SP business

1,074.4

53.8 %

698.4

45.7 %

AP business

325.4

16.3 %

351.1

23 %

Partner business

181.4

9.1 %

130.9

8.6 %

Other

4.5

0.2 %

4.1

0.3 %

Segment Total

1,996.3

100 %

1,527.0

100 %

Elimination/Corporate Expense

0.0

0 %

0.0

0 %

Consolidated Total

1,996.3

100 %

1,527.0

100 %

Exchange Rate: JPY to USD

78.961215

 

85.691434

 

Intersegment Revenue   USD (mil)

 

31-Mar-12

31-Mar-11

EP business

0.0

0 %

0.0

0 %

SP business

0.4

4.1 %

0.3

5.4 %

AP business

0.0

0.4 %

0.0

0.4 %

Partner business

0.1

1.1 %

0.0

0 %

Other

8.9

94.4 %

5.5

94.2 %

Segment Total

9.5

100 %

5.8

100 %

Elimination/Corporate Expense

-9.5

-100 %

-5.8

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

Exchange Rate: JPY to USD

78.961215

 

85.691434

 

 

Total Revenue   USD (mil)

 

31-Mar-12

31-Mar-11

EP business

410.6

20.5 %

342.5

22.3 %

SP business

1,074.7

53.6 %

698.7

45.6 %

AP business

325.4

16.2 %

351.1

22.9 %

Partner business

181.5

9.1 %

130.9

8.5 %

Other

13.4

0.7 %

9.6

0.6 %

Segment Total

2,005.8

100 %

1,532.8

100 %

Elimination/Corporate Expense

-9.5

-0.5 %

-5.8

-0.4 %

Consolidated Total

1,996.3

99.5 %

1,527.0

99.6 %

Exchange Rate: JPY to USD

78.961215

 

85.691434

 

Depreciation   USD (mil)

 

31-Mar-12

31-Mar-11

EP business

5.3

26.9 %

5.7

27.4 %

SP business

9.2

46.3 %

8.5

40.9 %

AP business

4.9

24.5 %

5.4

26 %

Partner business

0.2

1 %

0.9

4.2 %

Other

0.3

1.3 %

0.3

1.4 %

Segment Total

19.8

100 %

20.7

100 %

Elimination/Corporate Expense

15.6

78.8 %

16.5

79.8 %

Consolidated Total

35.4

178.8 %

37.3

179.8 %

Exchange Rate: JPY to USD

78.961215

 

85.691434

 

 

Operating Income/Loss   USD (mil)

 

31-Mar-12

31-Mar-11

EP business

53.1

15.4 %

31.8

14.9 %

SP business

258.4

74.8 %

142.5

67 %

AP business

17.0

4.9 %

17.7

8.3 %

Partner business

14.8

4.3 %

19.0

8.9 %

Other

2.1

0.6 %

1.7

0.8 %

Segment Total

345.4

100 %

212.7

100 %

Elimination/Corporate Expense

-152.6

-44.2 %

-146.3

-68.8 %

Consolidated Total

192.9

55.8 %

66.5

31.2 %

Exchange Rate: JPY to USD

78.961215

 

85.691434

 

Operating Margin (%)  

 

31-Mar-12

31-Mar-11

EP business

12.9

-

9.3

-

SP business

24.0

-

20.4

-

AP business

5.2

-

5.0

-

Partner business

8.2

-

14.5

-

Other

15.8

-

17.9

-

Segment Total

17.2

-

13.9

-

Elimination/Corporate Expense

1,610.6

-

2,516.7

-

Consolidated Total

9.7

-

4.4

-

 

 

Business Segments

 

Financials in: As Reported (mil)

Interim  

      

External Revenue   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

EP business

136.0

23.6 %

92.1

16.8 %

105.4

22.2 %

77.7

19.3 %

142.1

27.9 %

SP business

237.4

41.3 %

342.6

62.6 %

261.2

55 %

235.7

58.6 %

204.2

40.1 %

AP business

143.6

25 %

63.2

11.5 %

66.4

14 %

52.3

13 %

131.9

25.9 %

Partner business

57.9

10.1 %

47.9

8.7 %

41.2

8.7 %

34.7

8.6 %

30.5

6 %

Other

0.4

0.1 %

1.6

0.3 %

0.9

0.2 %

1.6

0.4 %

1.1

0.2 %

Segment Total

575.3

100 %

547.4

100 %

475.2

100 %

401.9

100 %

509.8

100 %

Elimination/Corporate Expense

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

575.3

100 %

547.4

100 %

475.2

100 %

401.9

100 %

509.8

100 %

Exchange Rate: JPY to USD

79.208816

 

77.302742

 

77.752043

 

81.605269

 

82.241044

 

Intersegment Revenue   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

EP business

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

SP business

0.1

2.1 %

0.1

5 %

0.1

4.6 %

0.1

6.7 %

0.2

9.4 %

AP business

0.0

0.4 %

0.0

0.6 %

0.0

0.6 %

0.0

0 %

0.0

1.4 %

Partner business

0.1

2.9 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Other

3.3

94.6 %

2.0

94.4 %

2.1

94.8 %

1.5

93.3 %

1.5

89.2 %

Segment Total

3.5

100 %

2.1

100 %

2.2

100 %

1.6

100 %

1.7

100 %

Elimination/Corporate Expense

-3.5

-100 %

-2.1

-100 %

-2.2

-100 %

-1.6

-100 %

-1.7

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: JPY to USD

79.208816

 

77.302742

 

77.752043

 

81.605269

 

82.241044

 

 

Total Revenue   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

EP business

136.0

23.5 %

92.1

16.8 %

105.4

22.1 %

77.7

19.2 %

142.1

27.8 %

SP business

237.5

41 %

342.7

62.4 %

261.3

54.7 %

235.8

58.4 %

204.4

40 %

AP business

143.6

24.8 %

63.2

11.5 %

66.5

13.9 %

52.3

13 %

132.0

25.8 %

Partner business

58.0

10 %

47.9

8.7 %

41.2

8.6 %

34.7

8.6 %

30.5

6 %

Other

3.7

0.6 %

3.6

0.7 %

3.0

0.6 %

3.1

0.8 %

2.6

0.5 %

Segment Total

578.8

100 %

549.5

100 %

477.5

100 %

403.6

100 %

511.5

100 %

Elimination/Corporate Expense

-3.5

-0.6 %

-2.1

-0.4 %

-2.2

-0.5 %

-1.6

-0.4 %

-1.7

-0.3 %

Consolidated Total

575.3

99.4 %

547.4

99.6 %

475.2

99.5 %

401.9

99.6 %

509.8

99.7 %

Exchange Rate: JPY to USD

79.208816

 

77.302742

 

77.752043

 

81.605269

 

82.241044

 

Operating Income/Loss   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

EP business

18.4

19.9 %

10.7

10.6 %

14.2

16.3 %

9.8

14.9 %

16.8

23.4 %

SP business

60.0

65 %

82.6

82 %

65.3

75 %

51.3

77.5 %

46.9

65.1 %

AP business

9.5

10.3 %

3.2

3.2 %

3.3

3.8 %

1.0

1.6 %

5.1

7.1 %

Partner business

4.0

4.3 %

4.0

3.9 %

3.7

4.3 %

3.2

4.9 %

3.3

4.6 %

Other

0.5

0.5 %

0.4

0.4 %

0.5

0.6 %

0.8

1.1 %

-0.1

-0.2 %

Segment Total

92.4

100 %

100.8

100 %

87.1

100 %

66.1

100 %

72.1

100 %

Elimination/Corporate Expense

-33.4

-36.2 %

-45.0

-44.6 %

-41.1

-47.2 %

-33.4

-50.5 %

-34.6

-48 %

Consolidated Total

58.9

63.8 %

55.8

55.4 %

45.9

52.8 %

32.7

49.5 %

37.5

52 %

Exchange Rate: JPY to USD

79.208816

 

77.302742

 

77.752043

 

81.605269

 

82.241044

 

 

Operating Margin (%)  

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

EP business

13.5

-

11.6

-

13.5

-

12.7

-

11.9

-

SP business

25.3

-

24.1

-

25.0

-

21.7

-

23.0

-

AP business

6.6

-

5.0

-

5.0

-

2.0

-

3.9

-

Partner business

6.8

-

8.3

-

9.0

-

9.3

-

10.8

-

Other

12.9

-

10.1

-

16.9

-

24.6

-

-5.1

-

Segment Total

16.0

-

18.3

-

18.2

-

16.4

-

14.1

-

Elimination/Corporate Expense

945.4

-

2,172.5

-

1,838.5

-

2,033.6

-

2,046.0

-

Consolidated Total

10.2

-

10.2

-

9.7

-

8.1

-

7.4

-

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.81

UK Pound

1

Rs.86.04

Euro

1

Rs.69.62

 

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

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NB

New Business

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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.