MIRA
INFORM REPORT
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Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
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Name : |
AJINOMOTO CO., INC. |
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Registered Office : |
1-15-1 Kyobashi, Chuo-ku, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
17.12.1925 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in the domestic food segment, the overseas food
segment, the biotech and fine segment, the medicine segment offers
pharmaceutical products |
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No. of Employees : |
28,084 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Ajinomoto Co., Inc.
1-15-1 Kyobashi
Chuo-ku
Tokyo, 104-8315
Japan
Tel: 81-3-52508111
Fax: 81-3-52508378
Web: www.ajinomoto.com
Synthesis
Employees: 28,084
Company Type: Public Parent
Corporate Family: 98
Companies
Traded: Tokyo Stock Exchange: 2802
Over The Counter: AJINY
Incorporation Date:
17-Dec-1925
Auditor: Ernst & Young LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: Japanese
Yen
Annual Sales: 15,163.3 1
Net Income: 528.8
Total Assets: 13,316.0 2
Market Value: 9,446.3 (22-Jun-2012)
Business Description
Ajinomoto Co., Inc. is a Japan-based food company that operates in six
business segments. The Domestic Food segment manufactures and sells seasonings
and processed food, sweeteners and nutritious food, delicatessen and bakery
products, frozen food and beverages. The Overseas Food segment offers
seasonings and processed food, as well as flavor seasonings for food
processing. The Biotech and Fine segment offers amino-acid for feeding stuffs,
medical drugs and food, sweeteners, medicine intermediate products and chemical
products. The Medicine segment offers pharmaceutical products. The Affiliated
segment provides fat, oil and coffee. The Others segment is engaged in the
healthcare, packaging material, logistics and other businesses. On September 1,
2011, it established a wholly owned subsidiary, which took over the forage
amino acid business, as well as related management business from the Company.
On April 1, 2012, it sold a 51% stake in its subsidiary, NRI System techno,
Ltd. For the six months ended 30 September 2011, Ajinomoto Co., Inc.'s revenues
decreased 2% to Y604.11B. The Company's net income increased 46% to Y25.72B.
Revenues reflect lower sales from Japan, Europe markets. The Company's net
income benefited from favorable gross and operating profit margins, the absence
of loss on foreign exchange, as well as the highly increased gain on sale
investment in securities.
Industry
Industry Beverages (Non-Alcoholic)
ANZSIC 2006: 1211 - Soft Drink,
Cordial and Syrup Manufacturing
NACE 2002: 1589 - Manufacture
of other food products not elsewhere classified
NAICS 2002: 311942 - Spice and
Extract Manufacturing
UK SIC 2003: 1589 - Manufacture
of other food products not elsewhere classified
US SIC 1987: 2087 - Flavoring
Extracts and Flavoring Syrups, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Masatoshi Ito |
President, Chief Executive Officer, Representative Director |
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Jean Falgoux |
Executive Officer, President of Subsidiary |
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Tomoyasu Toyoda |
Chief Executive Officer Ajinomoto Pharmaceuticals Co., Ltd. |
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Takashi Kurematsu |
Director-Finance & Planning |
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Eisei Kaneda |
Co-Auditor |
Significant Developments
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* number of significant developments within the last 12 months |
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News
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Financial Summary
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536
Corporate Overview
Location
1-15-1 Kyobashi
Chuo-ku
Tokyo, 104-8315
Japan
Tel: 81-3-52508111
Fax: 81-3-52508378
Web: www.ajinomoto.com
Quote Symbol - Exchange
2802 - Tokyo Stock
Exchange
Sales JPY(mil): 1,197,313.0
Assets JPY(mil): 1,097,047.0
Employees: 28,084
Fiscal Year End: 31-Mar-2012
Industry: Beverages (Non-Alcoholic)
Incorporation Date: 17-Dec-1925
Company Type: Public Parent
Quoted Status: Quoted
President, Chief Executive Officer, Representative Director: Masatoshi Ito
Company Web Links
Company Contact/E-mail
Corporate History/Profile
Executives
Financial Information
Home Page
Investor Relations
News Releases
Contents
Industry Codes
Business Description
Financial Data
Market Data
Shareholders
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1140 - Fruit and Vegetable Processing
696 - Management and Related Consulting Services
1133 - Cheese and Other Dairy Product Manufacturing
1841 - Human Pharmaceutical and Medicinal Product Manufacturing
1211 - Soft Drink, Cordial and Syrup Manufacturing
1162 - Cereal, Pasta and Baking Mix Manufacturing
1173 - Biscuit Manufacturing (Factory based)
1150 - Oil and Fat Manufacturing
NACE 2002 Codes:
1598 - Manufacture of mineral waters and soft drinks
1533 - Processing and preserving of fruit and vegetables not
elsewhere classified
2442 - Manufacture of pharmaceutical preparations
1582 - Manufacture of rusks and biscuits; manufacture of preserved
pastry goods and cakes
1589 - Manufacture of other food products not elsewhere classified
1561 - Manufacture of grain mill products
1541 - Manufacture of crude oils and fats
1551 - Operation of dairies and cheese making
7414 - Business and management consultancy activities
NAICS 2002 Codes:
311941 - Mayonnaise, Dressing, and Other Prepared Sauce
Manufacturing
311942 - Spice and Extract Manufacturing
311514 - Dry, Condensed, and Evaporated Dairy Product Manufacturing
311821 - Cookie and Cracker Manufacturing
311412 - Frozen Specialty Food Manufacturing
311223 - Other Oilseed Processing
325412 - Pharmaceutical Preparation Manufacturing
311230 - Breakfast Cereal Manufacturing
541611 - Administrative Management and General Management Consulting
Services
312111 - Soft Drink Manufacturing
US SIC 1987:
2035 - Pickled Fruits and Vegetables, Vegetable Sauces and
Seasonings, and Salad Dressings
8742 - Management Consulting Services
2038 - Frozen Specialties, Not Elsewhere Classified
2087 - Flavoring Extracts and Flavoring Syrups, Not Elsewhere
Classified
2023 - Dry, Condensed, and Evaporated Dairy Products
2834 - Pharmaceutical Preparations
2086 - Bottled and Canned Soft Drinks and Carbonated Waters
2052 - Cookies and Crackers
2074 - Cottonseed Oil Mills
2043 - Cereal Breakfast Foods
UK SIC 2003:
15519 - Manufacture of other milk products
15612 - Manufacture of breakfast cereals and cereals-based foods
74143 - General management consultancy activities
1541 - Manufacture of crude oils and fats
1533 - Processing and preserving of fruit and vegetables not
elsewhere classified
24421 - Manufacture of medicaments
1589 - Manufacture of other food products not elsewhere classified
1598 - Manufacture of mineral waters and soft drinks
1582 - Manufacture of rusks and biscuits; manufacture of preserved
pastry goods and cakes
Business
Description
Ajinomoto Co., Inc. is a Japan-based food company mainly engaged in the manufacture and sale of food products and fine chemicals. The Company operates in five business segments. The Domestic Food segment offers processed food, seasonings, edible oil products, beverages and frozen food products. The Overseas Food segment offers processed food and seasonings. The Amino Acid segment offers sweetener for processing, functional nutritional foods, seasoning, medical intermediate products, fine chemicals, as well as amino acids for food, medical and fodder products. The Medical segment offers medical products and medical food products. The Others segment is engaged in the provision over packaging, logistics and other services. The Company has 136 subsidiaries and 20 associated companies.
The Company focuses on biological aspects of amino acids, such as nutritional, physiological and pharmacological functions and properties. The Company offers bulk customers the a range of services and products, which include Non-Animal Manufacturing, Analytical and Technical Support, Blending and Pulverization Services, Customer Labeling and Packaging, Patented Amino Acid Production Technology, and Secured Supply Lines and Warehouse Facilities.
Ajinomoto Small Pack Business offers amino acids sold in bulk quantities in small package sizes suitable for research and development applications. Small Pack Amino Acids are available in one kilogram packages with selected products available in 500 grams packs.
More Business
Descriptions
Ajinomoto Co., Inc. is a Japan-based food company that operates in six business segments. The Domestic Food segment manufactures and sells seasonings and processed food, sweeteners and nutritious food, delicatessen and bakery products, frozen food and beverages. The Overseas Food segment offers seasonings and processed food, as well as flavor seasonings for food processing. The Biotech and Fine segment offers amino-acid for feeding stuffs, medical drugs and food, sweeteners, medicine intermediate products and chemical products. The Medicine segment offers pharmaceutical products. The Affiliated segment provides fat, oil and coffee. The Others segment is engaged in the healthcare, packaging material, logistics and other businesses. On September 1, 2011, it established a wholly owned subsidiary, which took over the forage amino acid business, as well as related management business from the Company. On April 1, 2012, it sold a 51% stake in its subsidiary, NRI System techno, Ltd. For the six months ended 30 September 2011, Ajinomoto Co., Inc.'s revenues decreased 2% to Y604.11B. The Company's net income increased 46% to Y25.72B. Revenues reflect lower sales from Japan, Europe markets. The Company's net income benefited from favorable gross and operating profit margins, the absence of loss on foreign exchange, as well as the highly increased gain on sale investment in securities.
Manufacture of monosodium glutamate and other food seasonings, fine chemicals, amino acids and pharmaceutical products
Seasoning, Vegetable Oils, Processed Foods, Beverages & Dairy
Products, Amino Acids & Specialty Chemicals Mfr
Ajinomoto Co., Inc. (Ajinomoto) is a Japan based multinational food processing company. The company offers products in food and beverages industry, healthy food categories as well as a range of products in pharmaceuticals and medical industry and technology. Ajinomoto has its operations in various parts of Europe, North America, South America, Asia Pacific, South East Asia and Japan.The company operates along with its subsidiaries in five broad business segments, namely constituting of Domestic Food Products, Overseas Food Products, Bioscience Products and Fine Chemicals, Pharmaceuticals, Business Tie-ups and Others. Through all its business segments, Ajinomoto offers products and services in food and beverages industry, medical and chemical industries.Ajinomoto, through its Domestic Food Products offers seasonings and processed foods, sweeteners and nutritional foods, delicatessen and bakery products, frozen foods, beverages, edible oils and coffee products. Under Overseas Food Products business segments, it principally offers a range of seasonings and processed foods, and Umami seasonings for processed food manufacturers. The company’s products are sold under various brand names such as AJI-NO-MOTO, HON-DASHI, Pure Select, Cook Do, Ajinomoto kk consomme, Knorr, and the Calpis. The company offers its products to retail consumers as well as food processing industries, restaurants and food joints, and others. During the fiscal year ended March 2011, the revenue generated by Domestic Food Products business segment accounted to JPY 447.1 billion, which contributed 37.6% to the company’s total revenue generated.Ajinomoto’s Domestic Food Products segment focuses on manufacturing and sales within the areas of Japan, whereas Overseas Food Products business segment caters to international markets. During the fiscal year ended March 2011, the company’s Overseas Food Segment generated revenues of JPY 213.9 billion, which contributed 18% to the company’s total revenue generated.Through Pharmaceuticals business segment, the company offers LIVACT, SOLITA-T, ELENTAL, PNTWIN, Heparin, TWINPAL, NIFLEC, AK-SOLITA, ELEMENMIC, HEPAN ED, ATELEC ACTONEL, and FASTIC products. In 2010, the Pharmaceuticals business segment has generated revenues of JPY 82.6 billion, which contributed 6.9% to the company’s total revenue generated.Ajinomoto’s Other business segment focuses on providing packaging materials, distribution and other related services. This segment is also involved in activities related to research and development, engineering and technological service rendering. During the fiscal year ended March 2011, this segment has generated revenues of JPY 66.9 billion, which contributed 5.6% to the company’s total revenue generated.The Bioscience products and fine chemicals segment is into the manufacturing and selling of feed-use amino acids, amino acids for pharmaceuticals and foods, sweeteners and pharmaceutical fine chemicals. In the fiscal year ended March 2011 the company generated JYP 194.3 billion, which contributed to 16.3% of the company's total revenue generated. Its Business tie-ups segment is principally into the manufacturing and selling of edible oils, coffee products which generated JYP 184.5 billion, which accounted for 15.5% of the company's total revenue generated in the fiscal year ended 2011.Ajinomoto, through its group portfolio of 134 domestic and international subsidiaries, and 20 affiliates companies operates in 22 countries and regions worldwide inclusive of Japan. Some of the key subsidiaries are Ajinomoto U.S.A., Inc., Calpis Co., Ltd., Ajinomoto Trading, Inc., Ajinomoto Fine-Techno Co., Ltd., Knorr Foods Co., Ltd., Ajinomoto Sweeteners Europe S.A.S., Ajinomoto Calpis Beverage (Thailand) Co., Ltd. among the others.Geographically, the company operates through four business segments, namely, Japan, Asia, America and Europe. During the fiscal year ended March 2011, the Japan region accounted for (66.5%) of the company’s total revenue, followed by Asia (16.2%); America (9.8%) and Europe (7.5%).Recently, the company announced that it is expanding production facilities at Shanghai Ajinomoto Amino Acid Co., Ltd. (Shanghai, China). Also, it announced that it has decided to establish two new subsidiaries in mid-July to supply seasonings and processed food products to consumers in Egypt and Turkey. Moreover, the company announced that it's subsidiary its wholly owned subsidiary AJINOMOTO BAKERY CO., LTD. (AJB) has entered into a joint venture agreement with Shanghai BreadTalk Co., Ltd. to manufacture frozen dough to be supplied to SBT’s retail bakery outlets.
Ajinomoto Co., Inc. (Ajinomoto) principally engages in the production, distribution and commercialization of food and beverages. The company, along with its subsidiaries, specializes in the manufacturing of seasonings, processed and frozen foods, beverages, edible oils and ready to drink coffee, feed-use amino acids, amino acids for pharmaceuticals and foods, sweeteners, pharmaceutical fine chemicals, specialty chemicals, pharmaceuticals and medical foods and several other products. The company markets its products under the brand names, AJI-NO-MOTO, HON-DASHI, Pure Select, Cook Do, Ajinomoto kk consomme, Knorr, and the Calpis. Ajinomoto has its presence in 22 countries and regions across the world with product offerings on global scale. Ajinomoto is headquartered in Tokyo, Japan.The company reported revenues of (Yen) JPY 1,197,313.00 million during the fiscal year ended March 2012, a decrease of 0.86% from 2011. The operating profit of the company was JPY 68,206.00 million during the fiscal year 2012, an increase of 47.97% over 2011. The net profit of the company was JPY 41,757.00 million during the fiscal year 2012, an increase of 37.31% over 2011.
Ajinomoto Co Inc (Japan) is a global food and amino acid products manufacturer and is the countries largest seasoning maker. In addition to MSG, the company makes foodstuffs, such as HON-DASHI flavour seasonings, AMOY sauces, Knorr soups (in Japan) and beverages (Blendy bottled coffee and Evian bottled water). Ajinomoto also manufactures and sells aspartame (the sweetener used in NutraSweet). It has operations in China, Hong Kong, Korea, Taiwan, Philippines, Vietnam, Indonesia, Singapore, Malaysia and Thailand. Ajinomoto has a marketing and production network throughout Asia Pacific and is the top brand in its category for many of these countries.
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Strategic Initiatives
Key Organizational
Changes
A ratio of more
than 2 indicates that the company is well positioned to clear its short term
obligations in case they came due anytime. The Total assets of the company
increased by JPY 29 billion in 2011 over the previous year. This increase is
due to an increase in cash and cash equivalents, an increase in intangible
fixed assets on the acquisition of patents and trademarks, and an increase in
the yen values of the balance sheets of overseas subsidiaries after
translation. Such a strong liquidity position gives strong support for the company's
position in the market. Moreover, Ajinomoto has unified treasury management for
a substantial proportion of group companies in order to raise the efficiency of
asset and liability management and reduce external borrowing and its costs.
Partnerships
The new joint
venture will process and sell ham and sausage. This company is expected to
generate sales of around JPY 1.7 billion in three years from exports to Japan
and domestic sales in Thailand. Moreover, the joint venture plans to import
Rockdale Beef and sell it primarily to the retail and restaurant markets in
Thailand. On whole, this joint venture is an opportunity for the company to
grow its business and thereby its financial performance.Growing Organic Foods
MarketThe company has significant opportunity to grow as the demand for organic
food is set to rise by 20% in the US by the end of 2010 alone. Rising Health
consciousness in the US, Europe and various other developed and emerging
markets has made the organic foods segment, one of the fastest growing segments
in the food retailing industry.
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses ·
Lawsuits |
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External Origin |
Opportunities |
Threats ·
Stringent Laws and
Regulations |
Overview
Ajinomoto together with its subsidiaries is engaged in the manufacture and sale of food products in Japan, Asia, the US and Europe. It offers AJI-NO-MOTO, HON-DASHI, Cook Do, soups, mayonnaise and mayonnaise-type dressings, PAL SWEET, delicatessen products, bakery products, amino VITAL, frozen foods, edible oils, coffee, beverages, and chilled dairy products, as well as flavor seasonings, instant noodles and amino acids. The strengths of the company are its strong global presence, leading market position and liquidity. The expansion of its manufacturing facilities, its join venture, the growing organic food market and the growing preventative care market are opportunities for the company to expand its operations. However the legal issues in which the company is involved and a declining market share are weaknesses for the company. It also faces challenges with respect to foreign exchange fluctuations, economic conditions, stringent laws and regulations and changes in costs of raw materials.
Strengths
Global Presence
Apart from holding a leading position in the market, Ajinomoto also has its operations spread geographically across the world. The company produces a broad range of products in around 23 countries and regions globally with manufacturing plants at 104 sites in 14 of the total countries in which it operates. During the fiscal year 2011, the total overseas sales in food business represent 50% of the group's revenues. . It has operations in Japan, the US, Asia and Europe. In 2011, the company’s overseas sales reached JPY 313.9 billion. During the fiscal year ended March 2011, the Japan region accounted for (66.5%) of the company’s total revenue, followed by Asia (16.2%); America (9.8%) and Europe (7.5%). This global presence of the company could enhance its further expansion plans, as wider reach in terms of geography would mean reaping more benefits eventually improving the profit margins and attaining economies of scale.
Leading Market
Position
Ajinomoto is the world’s leading company in the household and commercial markets for amino acids and fine chemicals. Further, the company is known as the leading brand in the worldwide monosodium glutamate market (MSG). It is also a leader in the market for processed foods, with a broad product portfolio. Amongst the Japanese dairy food business, Ajinomoto holds the number one market share as compared to its peers Meiji Dairies Corporation, Morinaga Milk Industry Company and Ezaki Gilco. The company’s Knorr brand holds the leading position in soup segment in the household market of Japan, along with AJI-NO-MOTO, HON-DASHI, Ajinomoto kk Consomme, and Cook Do brands occupying first position in Umami seasonings, Japanese flavour seasonings, Consomme, Seasonings for Chinese dishes, respectively. Strong market position and merchandising displays help the company to establish its brand image, which makes it easier to launch new products. It would also help in pursuing future growth plans of the company.
Strong Liquidity
Position
The company recorded current ratio of 2.36 in the fiscal year 2011 as compared to 2.13 in the fiscal year 2010. The cash and cash equivalents of the company for the fiscal year 2011 stood at JPY 141,081 million against JPY 97,866 million in the previous year. A ratio of more than 2 indicates that the company is well positioned to clear its short term obligations in case they came due anytime. The Total assets of the company increased by JPY 29 billion in 2011 over the previous year. This increase is due to an increase in cash and cash equivalents, an increase in intangible fixed assets on the acquisition of patents and trademarks, and an increase in the yen values of the balance sheets of overseas subsidiaries after translation. Such a strong liquidity position gives strong support for the company's position in the market. Moreover, Ajinomoto has unified treasury management for a substantial proportion of group companies in order to raise the efficiency of asset and liability management and reduce external borrowing and its costs. As a result, the Ajinomoto Group companies in Japan obtain approximately 98% of their funding requirements through group pooling.
Weaknesses
Lawsuits
Currently, the company is involved in many lawsuits and other incidents across Japan and overseas. The incidents in which the Ajinomoto is involved include lawsuits brought in the US claiming damages on the ground of violation of US anti-trust law by persons who allegedly purchased aspartame, and lawsuits in France by persons who allegedly purchased feed-use Lysine claiming damages on the ground of violation of European Union competition law. The aspartame cases are currently in the preliminary stage, but the amount of damage claimed in the feed used Lysine cases in France totaled Euro 2,500,000. Further, investigation is going on in Brazil, on the ground of possible violation of antitrust law in relation to the sale of feed-use Lysine. In addition, as the company is expanding its business, it might be subject to unexpected new lawsuits, complaints and other incidents. Such incidents and lawsuits involve uncertainty and it is therefore difficult to forecast the outcomes of the current and future incidents in which the company is or might be involved. These litigations may damage the company’s brand image as well as create hindrance in few global expansion plans.
Limited Operating
Margin
The company's operating margin was 3.82% for the fiscal year 2011. This was below the S&P 500 companies average* of 7.26%. A lower than S&P 500 companies average* operating margin may indicate inefficient cost management or a weak pricing strategy by the company. However, the company's operating margin has increased 38 bps over 2010 which may indicate that the management has been focusing on profitability.
Declining Market
Share in Sector
The company's compounded annual growth rate (CAGR) for revenue was 1.04% during 2007-2011. This was below the S&P 500 companies average* of 12.74%. A lower than S&P 500 companies average* revenue CAGR may indicate that the company has underperformed the average S&P 500 companies growth and lost market share over the last four years. The company's underperformance could be attributed to a weak competitive position or inferior products and services offering or lack of innovative products and services.
Opportunities
Expansion of
Manufacturing Facilities
The company currently has a large scale manufacturing plant in Brazil which serves as an export base to countries such as North America, ASEAN countries and Europe. It plans to have a four point manufacturing structure with bases in Asia, Brazil, North America and Europe. This would ensure that it produces amino acid products using local materials available in the respective regions which would help the company in reducing raw material cost changes and also reduce foreign exchange risk Ajinomoto Co., (Thailand) Ltd., a subsidiary of Ajinomoto Co., Inc. plans to invest JPY 14.7 billion to build a new umami seasonings factory in Ayutthaya province, Thailand. The production capacity for nucleotide seasonings in Thailand will be increased, and with the addition of the new umami seasonings factory, the company will invest a total of JPY 24 billion to expand production capacity. By 2013 these facilities are expected to be completed. Umami seasonings and nucleotide seasonings are key ingredients of Ajinomoto's seasoning products, including the umami seasoning AJI-NO-MOTO and various flavor seasonings. A capacity expansion would enable the company to meet increasing demand in Asia and other parts of the world. It would also help the company in strengthening its presence in the rapidly growing overseas seasonings market
Japanese Aging
Population
Japan's population
is aging faster than that of any other country in the world. By 2015, one in
four Japanese citizens will be 65 or older. There is a lot more pressure on the
health system as a result of ageing, as our bodies and minds start to wear out.
Japan is keen to use more generic drugs as a way of curbing its skyrocketing
health-care costs: the country spends some 36 trillion yen (US$450 billion) a
year on health care and this could rise to 93 trillion yen by 2035. In a bid to
raise the share of generics to 30% by 2013, the Japanese government brought in
reforms last year, including encouraging hospitals to prescribe generics and
promoting the use of the drugs among patients. The company has successfully
diversified into pharmaceuticals and is investing heavily for its new R&D
facilities could see a new avenue for revenues.
Joint Venture
Recently, the
company, through its subsidiary, Ajinomoto Co., (Thailand) Ltd. established a
joint venture company, Itoham Betagro Foods Co., Ltd.(Itoham Betagro Foods)
with Itoham Foods Inc., Betagro Public Co., Ltd and Hoei Bussan Co., Ltd.. The
new joint venture will process and sell ham and sausage. This company is
expected to generate sales of around JPY 1.7 billion in three years from
exports to Japan and domestic sales in Thailand. Moreover, the joint venture
plans to import Rockdale Beef and sell it primarily to the retail and
restaurant markets in Thailand. On whole, this joint venture is an opportunity
for the company to grow its business and thereby its financial performance.
Growing Organic Foods Market
The company has
significant opportunity to grow as the demand for organic food is set to rise
by 20% in the US by the end of 2010 alone. Rising Health consciousness in the
US, Europe and various other developed and emerging markets has made the
organic foods segment, one of the fastest growing segments in the food
retailing industry. Though, the organic food segment represented a mere 2% of
the US food and beverage market, with a 20% growth in its demand, the organic
food market in the region is expected to be worth USD 24 billion by 2010.
Global organic food market is expected to reach USD 70.2 billion by the end of
2010. The company’s strong foothold in the organic food market enables it to
have a competitive edge over its peers. The company can capitalize on its
distribution network and organic food offerings to increase its market share and
revenues.
Threats
Stringent Laws and Regulations
The company’s
operations are subject to a wide range of general and industry specific laws
and regulations. Within Japan, Ajinomoto endeavors to fulfill all laws and
regulations relating to food, pharmaceuticals, and the environment and
recycling operations. At the same time, Ajinomoto operates in various other
countries for which it seeks to meet all legal obligations, such as those
relating to permission to operate or invest, tariffs and duties, import and
export rules and foreign exchange and foreign trade control laws. Though, the
company complies with the concerned laws, legal changes may be introduced that
cannot be foreseen. Failure to comply with such changes may restrict
Ajinomoto’s operations and adversely affect financial performance. Moreover
any unforeseen implementation of or changes to regulations, such as unfavorable
taxation, unforeseen and unfavorable economic or political situations, social
disruption brought about by events such as terrorism, war or epidemics, and
natural disasters such as earthquakes could seriously impact the company's
operations.
Foreign Exchange
Fluctuation
The company has a
wide geographic reach. It operates in nearly 23 countries across the world.
This exposes the company to foreign exchange risk. In the fiscal year 2010, the
sales in overseas regions comprising Asia, America and Europe were JPY 358.4
billion representing 30.6% of consolidated sales. During the previous fiscal
year, it was JPY 346.9 billion representing 29.1% of consolidated sales. This
exposes the company to foreign exchange risks. During the fiscal year 2010, the
overseas food product business was impacted by foreign exchange rate movements,
with an overall currency translation effect of minus JPY 16.7 billion on sales
and minus JPY 2.2 billion on operating income.
Changes in Cost of Raw Materials
The company is
subject to changes in the prices of raw materials and energy resources
including crude oil according to market conditions. The main aspects
influencing fluctuations in raw material prices include poor crop harvests due
to unseasonable weather conditions resulting from global warming and higher
prices of grain caused by rising demand for ethanol. As a result of increasing
prices of raw materials, the company’s business and the financial position
may be affected.
|
Corporate
Family |
Corporate
Structure News: |
|
|
|
|
Ajinomoto Co., Inc. |
|
|
|
|
|
Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Tokyo |
Japan |
Beverages (Non-Alcoholic) |
15,163.3 |
28,084 |
|
|
Subsidiary |
SĂ£o Paulo, SP |
Brazil |
Chemical Manufacturing |
891.4 |
2,210 |
|
|
Subsidiary |
Bangkok |
Thailand |
Chemical Manufacturing |
2.0 |
2,000 |
|
|
Subsidiary |
Tokyo |
Japan |
Biotechnology and Drugs |
|
2,000 |
|
|
Subsidiary |
Bien Hoa, Dong Nai |
Viet Nam |
Chemical Manufacturing |
169.4 |
1,800 |
|
|
Subsidiary |
Jakarta |
Indonesia |
Chemical Manufacturing |
494.0 |
1,400 |
|
|
Subsidiary |
An Bien, Dong Nai |
Viet Nam |
Food Processing |
|
900 |
|
|
Subsidiary |
Tokyo |
Japan |
Food Processing |
1,174.5 |
775 |
|
|
Subsidiary |
Tokyo |
Japan |
Beverages (Non-Alcoholic) |
|
200 |
|
|
Subsidiary |
Ayutthaya |
Thailand |
Beverages (Non-Alcoholic) |
|
112 |
|
|
Subsidiary |
Bekasi |
Indonesia |
Beverages (Non-Alcoholic) |
|
80 |
|
|
Subsidiary |
Torrance, CA |
United States |
Food Processing |
1.1 |
6 |
|
|
Subsidiary |
Taipei |
Taiwan |
Food Processing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Real Estate Operations |
|
|
|
|
Subsidiary |
Okinawa |
Japan |
Beverages (Non-Alcoholic) |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Beverages (Non-Alcoholic) |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Beverages (Non-Alcoholic) |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Food Processing |
|
|
|
|
Subsidiary |
Corbais |
Belgium |
Chemical Manufacturing |
290.7 |
694 |
|
|
Subsidiary |
Mont Saint-Guibert |
Belgium |
Chemical Manufacturing |
|
120 |
|
|
Subsidiary |
Glons |
Belgium |
Retail (Grocery) |
0.0 |
3 |
|
|
Subsidiary |
Meulebeke |
Belgium |
Retail (Specialty) |
0.0 |
3 |
|
|
Subsidiary |
Bruxelles |
Belgium |
Biotechnology and Drugs |
5.4 |
|
|
|
Subsidiary |
Sint-Maria-Lierde |
Belgium |
Apparel and Accessories |
1.0 |
|
|
|
Subsidiary |
Bangkok |
Thailand |
Food Processing |
|
500 |
|
|
Subsidiary |
Bangkok |
Thailand |
Food Processing |
|
400 |
|
|
Subsidiary |
Kuala Lumpur |
Malaysia |
Food Processing |
106.0 |
380 |
|
|
Subsidiary |
Paris |
France |
Chemical Manufacturing |
125.0 |
374 |
|
|
Subsidiary |
Kawasaki |
Japan |
|
|
301 |
|
|
Subsidiary |
Lima |
Peru |
Food Processing |
170.0 |
300 |
|
|
Subsidiary |
Tokyo |
Japan |
Food Processing |
95.5 |
295 |
|
|
Subsidiary |
Kuala Lumpur |
Malaysia |
Containers and Packaging |
21.5 |
262 |
|
|
Subsidiary |
Paris |
France |
Food Processing |
111.9 |
224 |
|
|
Subsidiary |
Makati, Metro Manila |
Philippines |
Food Processing |
105.0 |
200 |
|
|
Subsidiary |
Laranjal Paulista, Sao Paulo |
Brazil |
Food Processing |
|
170 |
|
|
Subsidiary |
Gravelines |
France |
Food Processing |
|
149 |
|
|
Subsidiary |
Bangkok |
Thailand |
Construction Services |
40.0 |
100 |
|
|
Joint Venture |
Shanghai |
China |
Food Processing |
1.0 |
100 |
|
|
Subsidiary |
Gravelines |
France |
Food Processing |
|
100 |
|
|
Subsidiary |
Moscow |
Russian Federation |
Food Processing |
|
100 |
|
|
Subsidiary |
Jakarta |
Indonesia |
Food Processing |
|
100 |
|
|
Subsidiary |
Shanghai |
China |
Chemical Manufacturing |
|
100 |
|
|
Subsidiary |
Moscow |
Russian Federation |
Crops |
6.6 |
88 |
|
|
Subsidiary |
Tokyo |
Japan |
Medical Equipment and Supplies |
|
86 |
|
|
Subsidiary |
Bangkok |
Thailand |
Food Processing |
|
60 |
|
|
Subsidiary |
Singapore |
Singapore |
Chemical Manufacturing |
127.5 |
50 |
|
|
Subsidiary |
Fort Lee, NJ |
United States |
Food Processing |
11.5 |
50 |
|
|
Subsidiary |
Raleigh, NC |
United States |
Chemical Manufacturing |
22.1 |
130 |
|
|
Subsidiary |
Portland, OR |
United States |
Food Processing |
22.1 |
100 |
|
|
Subsidiary |
Chicago, IL |
United States |
Food Processing |
3.5 |
20 |
|
|
Subsidiary |
Chicago, IL |
United States |
Biotechnology and Drugs |
4.9 |
12 |
|
|
Branch |
Torrance, CA |
United States |
Food Processing |
11.4 |
10 |
|
|
Subsidiary |
London |
United Kingdom |
|
|
31 |
|
|
Subsidiary |
Hamburg |
Germany |
Chemical Manufacturing |
1.0 |
20 |
|
|
Subsidiary |
New Territories |
Hong Kong |
Food Processing |
1.0 |
20 |
|
|
Subsidiary |
Taipei |
Taiwan |
Food Processing |
|
20 |
|
|
Subsidiary |
Xiangcheng, Henan |
China |
Food Processing |
|
20 |
|
|
Subsidiary |
Warsaw |
Poland |
Food Processing |
|
18 |
|
|
Subsidiary |
Sao Paulo, SP |
Brazil |
Food Processing |
|
15 |
|
|
Subsidiary |
Paris |
France |
Food Processing |
|
11 |
|
|
Subsidiary |
Hong Kong |
Hong Kong |
Food Processing |
|
6 |
|
|
Subsidiary |
Tokyo |
Japan |
Retail (Catalog and Mail Order) |
1,254.2 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Food Processing |
1,150.0 |
|
|
|
Subsidiary |
Amphoe Bang, Pa-In, Phra Nakhon Si Ayutthaya |
Thailand |
Miscellaneous Capital Goods |
|
200 |
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Food Processing |
108.1 |
|
|
|
Subsidiary |
Hiki-Gun, Saitama |
Japan |
Food Processing |
37.7 |
|
|
|
Subsidiary |
Kawasaki, Kanagawa |
Japan |
Food Processing |
399.0 |
|
|
|
Subsidiary |
Kawasaki, Kanagawa |
Japan |
Food Processing |
43.4 |
20 |
|
|
Subsidiary |
Tokoro-Gun, Hokkaido |
Japan |
Food Processing |
40.6 |
|
|
|
Subsidiary |
Kawasaki, Kanagawa |
Japan |
Electronic Instruments and Controls |
282.6 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Food Processing |
281.0 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Engineering Consultants |
215.2 |
|
|
|
Subsidiary |
Kawasaki, Kanagawa |
Japan |
Containers and Packaging |
189.8 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Advertising |
160.6 |
|
|
|
Subsidiary |
Ageo, Saitama |
Japan |
Food Processing |
110.6 |
|
|
|
Subsidiary |
Beijing |
China |
Food Processing |
1.0 |
|
|
|
Subsidiary |
Hong Kong |
Hong Kong |
Food Processing |
1.0 |
|
|
|
Subsidiary |
London |
United Kingdom |
Food Processing |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Investment Services |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Fukuoka, Fukuoka |
Japan |
Trucking |
21.0 |
189 |
|
|
Subsidiary |
Kawasaki, Kanagawa |
Japan |
Trucking |
81.2 |
|
|
|
Subsidiary |
Kawasaki, Kanagawa |
Japan |
Trucking |
44.9 |
|
|
|
Subsidiary |
Nishinomiya, Hyogo |
Japan |
Trucking |
24.6 |
|
|
|
Subsidiary |
Saga, Saga |
Japan |
Containers and Packaging |
13.9 |
|
|
|
Subsidiary |
Kitahiroshima, Hokkaido |
Japan |
Trucking |
5.1 |
|
|
|
Subsidiary |
Bangkok |
Thailand |
Food Processing |
|
|
|
|
Subsidiary |
London |
United Kingdom |
|
|
|
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Sao Paulo |
Brazil |
Food Processing |
|
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Paranaque, Metro Manila |
Philippines |
Food Processing |
|
|
|
|
Subsidiary |
Zug |
Switzerland |
Food Processing |
|
|
|
|
Subsidiary |
Xiangcheng, Henan |
China |
Food Processing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Chengdu, Sichuan |
China |
Food Processing |
|
|
|
|
Ajinomoto Bakery Co.,Ltd. |
Subsidiary |
|
|
|
|
|
|
Subsidiary |
Yokohama, Kanagawa |
Japan |
Food Processing |
52.1 |
50 |
Competitors Report
|
Company Name |
Location |
Employees |
Ownership |
|
ABR Holdings Limited |
Singapore, Singapore |
976 |
Public |
|
AHJIKAN CO.,LTD. |
Hiroshima-Shi, Japan |
701 |
Public |
|
Archer Daniels Midland Company |
Decatur, Illinois, United States |
30,000 |
Public |
|
BOSO OIL&FAT CO., LTD. |
Funabashi-Shi, Japan |
219 |
Public |
|
Bunge Limited |
White Plains, New York, United States |
32,000 |
Public |
|
Cargill, Incorporated |
|
131,000 |
Private |
|
Fraser and Neave Limited |
Singapore, Singapore |
17,000 |
Public |
|
Ingredion Inc |
Westchester, Illinois, United States |
11,100 |
Public |
|
Kraft Foods Inc |
Northfield, Illinois, United States |
126,000 |
Public |
|
Meiji Co Ltd |
Tokyo, Japan |
4,571 |
Private |
|
Meiji Seika Pharma Co Ltd |
Tokyo, Japan |
3,537 |
Private |
|
Morinaga Milk Industry Co., Ltd. |
Tokyo, Japan |
5,627 |
Public |
|
Nestle SA |
Vevey, Switzerland |
328,000 |
Public |
|
Nisshin Oillio Group Ltd |
Tokyo, Japan |
2,771 |
Public |
|
Sara Lee Corp |
Downers Grove, Illinois, United States |
21,000 |
Public |
|
Snow Brand Milk Products Co., Ltd. |
Tokyo, Japan |
2,870 |
Private |
|
Suedzucker Mannheim Ochsenfurt AG |
Mannheim, Germany |
17,606 |
Public |
|
Tate & Lyle |
Decatur, Illinois, United States |
200 |
Private |
|
Tate & Lyle PLC |
London, United Kingdom |
4,416 |
Public |
|
The Andersons, Inc. |
Maumee, Ohio, United States |
1,690 |
Public |
|
The Scoular Company |
Omaha, Nebraska, United States |
600 |
Private |
|
YAMAZAKI BAKING CO., LTD. |
Tokyo, Japan |
24,304 |
Public |
executive report
|
Board of
Directors |
|
|
|
|
|||||||||
|
Chairman of the Board, Representative Director |
Chairman |
|
|||||||||
|
||||||||||||
|
Board Member |
Director/Board Member |
|
|
||||||||
|
Managing Executive Officer, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
President, Chief Executive Officer, Representative Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Senior Managing Executive Officer, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Executive Vice President, Representative Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer, Chief Director of Europe & Africa in
Main Bio & Fine Business Unit, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Senior Managing Executive Officer, Chief Director of Bio & Fine
Business, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Independent Director |
Director/Board Member |
|
|
||||||||
|
Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer, Chief Director
of ASEAN in Main Food Business Unit, President of Subsidiary, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Senior Managing Executive Officer, Chief Director of Food Business, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Managing Executive Officer, Chief Director of North America in Main
Bio & Fine Business Unit, President of Subsidiary, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Executives |
|
|
|
|
||||||
|
President, Chief Executive Officer, Representative Director |
Chief Executive Officer |
|
||||||
|
|||||||||
|
Chief Executive Officer Ajinomoto Pharmaceuticals Co., Ltd. |
Chief Executive Officer |
|
|
|||||
|
|||||||||
|
Co-Executive Officer |
Division Head Executive |
|
|
|||||
|
Senior VP & General Manager-Institute-Food Sciences &
Technical |
Division Head Executive |
|
|
|||||
|
Co-Executive Officer |
Division Head Executive |
|
|
|||||
|
Senior VP & General Manager-Institute-Innovation |
Division Head Executive |
|
|
|||||
|
Senior Vice President - Reinforcement of Group Business Infr |
Division Head Executive |
|
|
|||||
|
Co-Managing Executive Officer |
Managing Director |
|
|
|||||
|
Co-Auditor |
Finance Executive |
|
|
|||||
|
Director-Finance & Planning |
Finance Executive |
|
|
|||||
|
Standing Corporate Auditor |
Accounting Executive |
|
|
|||||
|
Standing Corporate Auditor |
Accounting Executive |
|
|
|||||
|
Corporate Auditor |
Accounting Executive |
|
|
|||||
|
Corporate Auditor |
Accounting Executive |
|
|
|||||
|
Director-Research & Development |
Research & Development Executive |
|
|
|||||
|
Manager, Business Development |
Business Development Executive |
|
|
|||||
|
Executive Vice President-Production |
Manufacturing Executive |
|
|
|||||
|
Executive Officer, President of Subsidiary |
Other |
|
|
|||||
|
Executive Officer, Director of Material & Function Development
& Research Institute |
Other |
|
|
|||||
|
Executive Officer, Director of Research & Development Planning |
Other |
|
|
|||||
|
Executive Officer, President of Subsidiary |
Other |
|
|
|||||
|
Managing Executive Officer, Deputy Chief Director of Food Business |
Other |
|
|
|||||
|
Managing Executive Officer, Deputy Chief Director of Bio & Fine
Business |
Other |
|
|
|||||
|
Executive Officer |
Other |
|
|
|||||
|
Managing Executive Officer, Chief Director of China Business |
Other |
|
|
|||||
|
Executive Officer, Manager of Medical Business Promotion Office |
Other |
|
|
|||||
|
Executive Officer, Director of Production Strategy |
Other |
|
|
|||||
|
Managing Executive Officer |
Other |
|
|
|||||
|
Executive Officer, Deputy Chief Director of Healthcare Business |
Other |
|
|
|||||
|
Managing Executive Officer, Chief Director of Healthcare Business |
Other |
|
|
|||||
|
Executive Officer, Director of Chemical Product in Main Bio & Fine
Business Unit |
Other |
|
|
|||||
|
Executive Officer, President of Tokyo Office in Main Food Business
Unit |
Other |
|
|
|||||
|
Vice President Corporate |
Other |
|
|
|||||
|
|||||||||
|
Senior Managing Executive Officer, Chairman of Subsidiary |
Other |
|
|
|||||
|
Executive Officer, Chief Director of Latin & America in Main Bio
& Fine Business Unit |
Other |
|
|
|||||
|
Executive Officer, Deputy Chief Director of Europe & Africa in
Main Bio & Fine Business Unit |
Other |
|
|
|||||
|
Executive Officer, Director of Information Planning |
Other |
|
|
|||||
|
Executive Officer, Manager of Tokai Business Center |
Other |
|
|
|||||
|
Executive Officer, Deputy Chief Director of Healthcare Business |
Other |
|
|
|||||
|
Executive Officer, Director of Restaurant Delicacy Business in Main
Food Business Unit |
Other |
|
|
|||||
|
|||||||||
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
Revenue |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
Total Revenue |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
10,049.5 |
9,390.9 |
8,452.4 |
8,291.1 |
7,529.3 |
|
Cost of Revenue, Total |
10,049.5 |
9,390.9 |
8,452.4 |
8,291.1 |
7,529.3 |
|
Gross Profit |
5,113.8 |
4,702.7 |
4,145.6 |
3,555.3 |
3,114.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
4,194.5 |
2,073.2 |
1,814.9 |
1,724.2 |
1,416.8 |
|
Labor & Related Expense |
- |
821.1 |
733.3 |
639.2 |
512.7 |
|
Advertising Expense |
- |
392.4 |
368.1 |
311.3 |
291.3 |
|
Total Selling/General/Administrative Expenses |
4,194.5 |
3,286.7 |
2,916.3 |
2,674.6 |
2,220.9 |
|
Research & Development |
- |
430.7 |
383.4 |
336.0 |
287.6 |
|
Depreciation |
- |
123.0 |
103.1 |
83.6 |
65.1 |
|
Amortization of Acquisition Costs |
- |
52.6 |
53.8 |
54.7 |
42.9 |
|
Depreciation/Amortization |
- |
175.6 |
156.9 |
138.3 |
108.0 |
|
Litigation |
- |
3.7 |
9.2 |
0.0 |
- |
|
Impairment-Assets Held for Use |
56.1 |
115.1 |
202.9 |
221.3 |
23.4 |
|
Impairment-Assets Held for Sale |
7.7 |
86.5 |
0.7 |
8.0 |
-2.5 |
|
Other Unusual Expense (Income) |
-8.3 |
66.4 |
42.7 |
8.6 |
35.0 |
|
Unusual Expense (Income) |
55.5 |
271.7 |
255.5 |
237.9 |
55.8 |
|
Total Operating Expense |
14,299.5 |
13,555.6 |
12,164.5 |
11,677.9 |
10,201.6 |
|
|
|
|
|
|
|
|
Operating Income |
863.8 |
537.9 |
433.5 |
168.5 |
441.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-27.4 |
-28.5 |
-37.3 |
-47.5 |
-41.6 |
|
Interest Expense, Net Non-Operating |
-27.4 |
-28.5 |
-37.3 |
-47.5 |
-41.6 |
|
Interest Income -
Non-Operating |
23.4 |
14.4 |
12.5 |
10.4 |
11.6 |
|
Investment Income -
Non-Operating |
49.8 |
54.1 |
77.2 |
-84.7 |
78.7 |
|
Interest/Investment Income - Non-Operating |
73.1 |
68.5 |
89.7 |
-74.3 |
90.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
45.7 |
40.0 |
52.4 |
-121.8 |
48.7 |
|
Gain (Loss) on Sale of Assets |
- |
- |
0.0 |
8.0 |
-2.8 |
|
Other Non-Operating Income (Expense) |
3.5 |
-12.5 |
-3.9 |
-22.1 |
-34.1 |
|
Other, Net |
3.5 |
-12.5 |
-3.9 |
-22.1 |
-34.1 |
|
Income Before Tax |
913.0 |
565.4 |
482.0 |
32.5 |
453.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
310.4 |
146.7 |
241.3 |
114.7 |
178.8 |
|
Income After Tax |
602.6 |
418.8 |
240.7 |
-82.2 |
274.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-73.7 |
-63.9 |
-61.6 |
-19.5 |
-27.8 |
|
Net Income Before Extraord Items |
528.8 |
354.9 |
179.2 |
-101.7 |
247.0 |
|
Net Income |
528.8 |
354.9 |
179.2 |
-101.7 |
247.0 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Total Adjustments to Net Income |
0.0 |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Income Available to Common Excl Extraord Items |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
681.4 |
697.8 |
697.9 |
698.2 |
673.1 |
|
Basic EPS Excl Extraord Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Basic/Primary EPS Incl Extraord Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
Diluted Weighted Average Shares |
681.4 |
697.8 |
697.9 |
698.2 |
673.1 |
|
Diluted EPS Excl Extraord Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Diluted EPS Incl Extraord Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Dividends per Share - Common Stock Primary Issue |
0.20 |
0.19 |
0.17 |
0.16 |
0.14 |
|
Gross Dividends - Common Stock |
137.1 |
130.3 |
120.1 |
111.1 |
94.2 |
|
Interest Expense, Supplemental |
27.4 |
28.5 |
37.3 |
47.5 |
41.6 |
|
Depreciation, Supplemental |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Total Special Items |
112.5 |
324.3 |
309.3 |
284.7 |
101.5 |
|
Normalized Income Before Tax |
1,025.5 |
889.8 |
791.3 |
317.1 |
555.2 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
18.9 |
70.5 |
127.9 |
80.5 |
23.1 |
|
Inc Tax Ex Impact of Sp Items |
329.3 |
217.2 |
369.2 |
195.1 |
201.9 |
|
Normalized Income After Tax |
696.2 |
672.6 |
422.1 |
122.0 |
353.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
622.4 |
608.6 |
360.5 |
102.4 |
325.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.91 |
0.87 |
0.52 |
0.15 |
0.48 |
|
Diluted Normalized EPS |
0.91 |
0.87 |
0.52 |
0.15 |
0.48 |
|
Amort of Acquisition Costs, Supplemental |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Advertising Expense, Supplemental |
- |
392.4 |
368.1 |
311.3 |
291.3 |
|
Research & Development Exp, Supplemental |
- |
430.7 |
383.4 |
336.0 |
287.6 |
|
Reported Operating Profit |
919.2 |
809.6 |
689.0 |
406.3 |
529.5 |
|
Reported Ordinary Profit |
961.5 |
822.7 |
727.6 |
258.0 |
487.6 |
|
Normalized EBIT |
919.3 |
809.6 |
689.0 |
406.4 |
497.7 |
|
Normalized EBITDA |
1,529.9 |
1,443.7 |
1,338.7 |
1,010.3 |
1,023.4 |
|
Interest Cost - Domestic |
- |
77.9 |
70.5 |
66.9 |
58.5 |
|
Service Cost - Domestic |
- |
73.8 |
63.1 |
60.7 |
51.4 |
|
Prior Service Cost - Domestic |
- |
-25.3 |
-25.0 |
-22.7 |
-21.2 |
|
Expected Return on Assets - Domestic |
- |
-55.6 |
-66.1 |
-69.8 |
-63.3 |
|
Actuarial Gains and Losses - Domestic |
- |
114.7 |
108.8 |
80.3 |
53.6 |
|
Other Pension, Net - Domestic |
- |
8.6 |
4.4 |
6.6 |
17.9 |
|
Domestic Pension Plan Expense |
- |
194.0 |
155.8 |
122.0 |
96.9 |
|
Total Pension Expense |
- |
194.0 |
155.8 |
122.0 |
96.9 |
|
Discount Rate - Domestic |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
- |
2.50% |
3.50% |
3.50% |
3.50% |
|
Total Plan Interest Cost |
- |
77.9 |
70.5 |
66.9 |
58.5 |
|
Total Plan Service Cost |
- |
73.8 |
63.1 |
60.7 |
51.4 |
|
Total Plan Expected Return |
- |
-55.6 |
-66.1 |
-69.8 |
-63.3 |
|
Total Plan Other Expense |
- |
8.6 |
4.4 |
6.6 |
17.9 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
1,819.7 |
1,710.9 |
1,047.4 |
704.4 |
811.9 |
|
Short Term Investments |
5.0 |
6.2 |
2.6 |
6.6 |
35.8 |
|
Cash and Short Term Investments |
1,824.7 |
1,717.1 |
1,049.9 |
710.9 |
847.7 |
|
Accounts Receivable -
Trade, Gross |
2,512.0 |
2,358.4 |
2,099.6 |
1,917.4 |
1,941.3 |
|
Provision for Doubtful
Accounts |
-14.2 |
-14.9 |
-17.6 |
-9.5 |
-13.9 |
|
Trade Accounts Receivable - Net |
2,497.8 |
2,343.5 |
2,082.0 |
1,907.9 |
1,927.3 |
|
Total Receivables, Net |
2,497.8 |
2,343.5 |
2,082.0 |
1,907.9 |
1,927.3 |
|
Inventories - Finished Goods |
1,175.6 |
1,055.1 |
1,037.7 |
1,042.4 |
942.0 |
|
Inventories - Work In Progress |
96.6 |
88.9 |
94.1 |
92.6 |
80.2 |
|
Inventories - Raw Materials |
520.0 |
488.6 |
439.4 |
356.8 |
339.8 |
|
Total Inventory |
1,792.3 |
1,632.6 |
1,571.1 |
1,491.7 |
1,361.9 |
|
Deferred Income Tax - Current Asset |
101.1 |
135.2 |
128.8 |
161.0 |
139.4 |
|
Other Current Assets |
367.6 |
402.7 |
383.7 |
311.2 |
404.1 |
|
Other Current Assets, Total |
468.7 |
537.9 |
512.5 |
472.2 |
543.6 |
|
Total Current Assets |
6,583.4 |
6,231.0 |
5,215.6 |
4,582.7 |
4,680.5 |
|
|
|
|
|
|
|
|
Buildings |
4,257.8 |
4,230.9 |
3,820.7 |
3,408.5 |
3,435.4 |
|
Land/Improvements |
1,166.9 |
1,184.4 |
1,055.5 |
1,013.9 |
1,031.0 |
|
Machinery/Equipment |
6,976.6 |
6,923.8 |
6,353.9 |
5,862.3 |
6,000.1 |
|
Construction in
Progress |
322.8 |
229.4 |
136.6 |
224.0 |
268.1 |
|
Leases |
61.9 |
43.2 |
28.4 |
11.3 |
0.0 |
|
Property/Plant/Equipment - Gross |
12,786.1 |
12,611.8 |
11,395.2 |
10,520.0 |
10,734.6 |
|
Accumulated Depreciation |
-8,068.2 |
-7,929.7 |
-6,987.7 |
-6,136.5 |
-6,347.3 |
|
Property/Plant/Equipment - Net |
4,717.9 |
4,682.1 |
4,407.5 |
4,383.6 |
4,387.3 |
|
Goodwill, Net |
304.4 |
357.0 |
365.0 |
396.1 |
580.9 |
|
Intangibles, Net |
414.0 |
433.2 |
423.0 |
225.2 |
234.0 |
|
LT Investment - Affiliate Companies |
- |
620.9 |
538.5 |
- |
- |
|
LT Investments - Other |
1,025.6 |
391.1 |
420.8 |
835.1 |
963.5 |
|
Long Term Investments |
1,025.6 |
1,012.1 |
959.3 |
835.1 |
963.5 |
|
Note Receivable - Long Term |
12.8 |
12.8 |
4.1 |
6.3 |
13.5 |
|
Deferred Income Tax - Long Term Asset |
94.6 |
121.7 |
83.8 |
144.5 |
90.9 |
|
Other Long Term Assets |
163.3 |
149.8 |
123.8 |
135.9 |
107.9 |
|
Other Long Term Assets, Total |
258.0 |
271.5 |
207.6 |
280.5 |
198.8 |
|
Total Assets |
13,316.0 |
12,999.7 |
11,582.1 |
10,709.5 |
11,058.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,371.2 |
1,247.8 |
1,061.3 |
962.7 |
1,040.6 |
|
Accrued Expenses |
88.0 |
86.2 |
60.1 |
51.1 |
50.3 |
|
Notes Payable/Short Term Debt |
215.9 |
195.6 |
106.6 |
270.4 |
362.0 |
|
Current Portion - Long Term Debt/Capital Leases |
53.5 |
64.1 |
223.9 |
30.9 |
234.0 |
|
Income Taxes Payable |
114.9 |
95.3 |
140.1 |
84.3 |
70.3 |
|
Other Current Liabilities |
1,063.0 |
945.3 |
850.5 |
843.2 |
842.5 |
|
Other Current liabilities, Total |
1,177.8 |
1,040.7 |
990.6 |
927.5 |
912.8 |
|
Total Current Liabilities |
2,906.5 |
2,634.4 |
2,442.6 |
2,242.6 |
2,599.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,272.5 |
1,318.4 |
1,228.5 |
1,200.7 |
853.9 |
|
Total Long Term Debt |
1,272.5 |
1,318.4 |
1,228.5 |
1,200.7 |
853.9 |
|
Total Debt |
1,541.9 |
1,578.1 |
1,559.0 |
1,502.0 |
1,450.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
179.5 |
188.1 |
208.4 |
297.9 |
209.5 |
|
Deferred Income Tax |
179.5 |
188.1 |
208.4 |
297.9 |
209.5 |
|
Minority Interest |
543.9 |
508.0 |
432.5 |
338.4 |
395.8 |
|
Reserves |
13.2 |
13.4 |
4.3 |
2.2 |
2.1 |
|
Pension Benefits - Underfunded |
776.6 |
722.6 |
575.1 |
497.8 |
479.6 |
|
Other Long Term Liabilities |
276.1 |
276.5 |
240.0 |
204.7 |
205.1 |
|
Other Liabilities, Total |
1,065.9 |
1,012.5 |
819.4 |
704.8 |
686.9 |
|
Total Liabilities |
5,968.3 |
5,661.4 |
5,131.2 |
4,784.3 |
4,745.8 |
|
|
|
|
|
|
|
|
Common Stock |
969.4 |
963.6 |
854.7 |
808.6 |
802.4 |
|
Common Stock |
969.4 |
963.6 |
854.7 |
808.6 |
802.4 |
|
Additional Paid-In Capital |
1,971.0 |
2,204.6 |
1,955.5 |
1,850.0 |
1,837.0 |
|
Retained Earnings (Accumulated Deficit) |
5,398.1 |
4,997.5 |
4,223.8 |
3,939.5 |
3,854.4 |
|
Treasury Stock - Common |
-26.9 |
-30.3 |
-26.1 |
-24.1 |
-18.7 |
|
Unrealized Gain (Loss) |
32.5 |
15.8 |
-2.7 |
-13.1 |
55.9 |
|
Translation Adjustment |
-990.5 |
-808.9 |
-554.4 |
-635.6 |
-218.4 |
|
Minimum Pension Liability Adjustment |
-5.8 |
-3.9 |
0.0 |
- |
- |
|
Other Equity, Total |
-996.3 |
-812.9 |
-554.4 |
-635.6 |
-218.4 |
|
Total Equity |
7,347.8 |
7,338.2 |
6,450.9 |
5,925.2 |
6,312.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
13,316.0 |
12,999.6 |
11,582.1 |
10,709.5 |
11,058.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
676.7 |
697.8 |
697.9 |
697.9 |
698.6 |
|
Total Common Shares Outstanding |
676.7 |
697.8 |
697.9 |
697.9 |
698.6 |
|
Treasury Shares - Common Stock Primary Issue |
2.3 |
2.3 |
2.2 |
2.1 |
1.4 |
|
Employees |
- |
28,084 |
27,215 |
26,869 |
25,893 |
|
Number of Common Shareholders |
- |
61,613 |
60,724 |
60,907 |
51,099 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
- |
1,199.9 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
- |
243.7 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
- |
30.9 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
- |
170.1 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
- |
15.8 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
- |
4.8 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
- |
201.0 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
- |
20.5 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
- |
734.6 |
|
Pension Obligation - Domestic |
- |
3,336.5 |
2,940.4 |
2,745.6 |
2,792.5 |
|
Plan Assets - Domestic |
- |
2,224.0 |
2,002.0 |
1,814.0 |
2,034.7 |
|
Funded Status - Domestic |
- |
-1,112.5 |
-938.4 |
-931.6 |
-757.9 |
|
Total Funded Status |
- |
-1,112.5 |
-938.4 |
-931.6 |
-757.9 |
|
Discount Rate - Domestic |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
- |
2.50% |
3.50% |
3.50% |
3.50% |
|
Prepaid Benefits - Domestic |
- |
10.6 |
8.3 |
9.7 |
10.6 |
|
Accrued Liabilities - Domestic |
- |
-706.5 |
-563.2 |
-484.5 |
-460.0 |
|
Other Assets, Net - Domestic |
- |
416.6 |
383.5 |
456.8 |
308.5 |
|
Net Assets Recognized on Balance Sheet |
- |
-279.2 |
-171.4 |
-17.9 |
-140.9 |
|
Total Plan Obligations |
- |
3,336.5 |
2,940.4 |
2,745.6 |
2,792.5 |
|
Total Plan Assets |
- |
2,224.0 |
2,002.0 |
1,814.0 |
2,034.7 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
913.0 |
565.3 |
481.9 |
32.4 |
453.6 |
|
Depreciation |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Depreciation/Depletion |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Amortization of Acquisition Costs |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Amortization |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Unusual Items |
36.2 |
228.0 |
192.5 |
222.0 |
-0.8 |
|
Equity in Net Earnings (Loss) |
-30.4 |
-34.9 |
-37.2 |
-25.1 |
-31.0 |
|
Other Non-Cash Items |
38.7 |
80.2 |
69.9 |
41.0 |
-39.5 |
|
Non-Cash Items |
44.6 |
273.3 |
225.2 |
237.9 |
-71.3 |
|
Accounts Receivable |
-178.5 |
-24.0 |
-57.5 |
-38.6 |
82.7 |
|
Inventories |
-203.1 |
62.0 |
25.6 |
-207.0 |
-122.4 |
|
Other Assets |
-46.6 |
- |
- |
- |
- |
|
Accounts Payable |
133.8 |
64.5 |
44.3 |
-52.3 |
-73.1 |
|
Accrued Expenses |
2.8 |
18.5 |
6.3 |
0.7 |
-5.1 |
|
Taxes Payable |
-23.0 |
0.0 |
-4.0 |
15.9 |
-0.6 |
|
Other Operating Cash Flow |
-71.9 |
-278.3 |
-231.8 |
-74.9 |
-340.1 |
|
Changes in Working Capital |
-386.5 |
-157.3 |
-217.1 |
-356.2 |
-458.6 |
|
Cash from Operating Activities |
1,181.8 |
1,315.3 |
1,139.6 |
518.1 |
449.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-575.0 |
-474.2 |
-411.8 |
-560.8 |
-546.0 |
|
Purchase/Acquisition of Intangibles |
-46.3 |
-40.7 |
-251.3 |
-46.6 |
-32.7 |
|
Capital Expenditures |
-621.3 |
-514.9 |
-663.1 |
-607.4 |
-578.7 |
|
Acquisition of Business |
- |
- |
- |
0.0 |
233.5 |
|
Sale of Business |
- |
- |
- |
0.0 |
48.1 |
|
Sale of Fixed Assets |
17.9 |
17.6 |
5.3 |
10.5 |
67.2 |
|
Sale/Maturity of Investment |
26.6 |
43.8 |
1.0 |
6.1 |
19.1 |
|
Investment, Net |
56.2 |
-64.0 |
-6.7 |
-13.7 |
-8.9 |
|
Purchase of Investments |
-20.6 |
-13.6 |
-14.1 |
-7.7 |
-28.8 |
|
Other Investing Cash Flow |
13.1 |
-4.3 |
-3.9 |
-9.7 |
0.8 |
|
Other Investing Cash Flow Items, Total |
93.2 |
-20.5 |
-18.3 |
-14.5 |
331.2 |
|
Cash from Investing Activities |
-528.1 |
-535.4 |
-681.4 |
-621.8 |
-247.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-42.3 |
-7.8 |
-34.5 |
-7.1 |
4.5 |
|
Financing Cash Flow Items |
-42.3 |
-7.8 |
-34.5 |
-7.1 |
4.5 |
|
Cash Dividends Paid - Common |
-139.3 |
-130.3 |
-120.0 |
-111.2 |
-90.3 |
|
Total Cash Dividends Paid |
-139.3 |
-130.3 |
-120.0 |
-111.2 |
-90.3 |
|
Sale/Issuance of
Common |
0.1 |
0.1 |
0.1 |
4.6 |
0.0 |
|
Repurchase/Retirement
of Common |
-253.9 |
-1.0 |
-0.7 |
-11.0 |
-7.9 |
|
Common Stock, Net |
-253.8 |
-0.9 |
-0.7 |
-6.4 |
-7.9 |
|
Issuance (Retirement) of Stock, Net |
-253.8 |
-0.9 |
-0.7 |
-6.4 |
-7.9 |
|
Short Term Debt, Net |
26.9 |
80.8 |
-187.1 |
-46.4 |
75.4 |
|
Long Term Debt Issued |
0.3 |
0.6 |
183.1 |
378.4 |
9.7 |
|
Long Term Debt
Reduction |
-66.2 |
-244.6 |
-34.5 |
-228.4 |
-145.3 |
|
Long Term Debt, Net |
-65.9 |
-243.9 |
148.5 |
150.0 |
-135.6 |
|
Issuance (Retirement) of Debt, Net |
-39.0 |
-163.2 |
-38.5 |
103.6 |
-60.2 |
|
Cash from Financing Activities |
-474.3 |
-302.2 |
-193.8 |
-21.1 |
-153.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-17.2 |
-26.2 |
29.2 |
-28.1 |
-33.3 |
|
Net Change in Cash |
162.1 |
451.6 |
293.8 |
-153.0 |
14.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,695.1 |
1,109.2 |
729.1 |
827.6 |
712.9 |
|
Net Cash - Ending Balance |
1,857.2 |
1,560.8 |
1,022.8 |
674.6 |
727.6 |
|
Cash Interest Paid |
27.7 |
29.4 |
39.9 |
49.1 |
40.1 |
|
Cash Taxes Paid |
181.3 |
322.5 |
180.7 |
128.2 |
219.5 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
Total Revenue |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
|
|
|
|
|
|
|
Cost of Sales |
10,049.5 |
9,390.9 |
8,452.4 |
8,291.1 |
7,497.4 |
|
Total SGA |
4,194.5 |
- |
- |
- |
- |
|
Shipping |
- |
390.4 |
340.8 |
340.8 |
282.0 |
|
Advertisment |
- |
392.4 |
368.1 |
311.3 |
291.3 |
|
Sales Commissions |
- |
724.6 |
630.1 |
596.8 |
459.8 |
|
Salaries |
- |
501.6 |
461.0 |
413.8 |
332.6 |
|
Allowance Bonus&bonus |
- |
208.9 |
182.2 |
155.5 |
135.2 |
|
Accrued Retirement |
- |
110.7 |
90.0 |
69.9 |
44.9 |
|
Depreciation |
- |
123.0 |
103.1 |
83.6 |
65.1 |
|
Research&Development |
- |
430.7 |
383.4 |
336.0 |
287.6 |
|
Amortization of Goodwill |
- |
52.6 |
53.8 |
54.7 |
42.9 |
|
Other SGA |
- |
958.3 |
844.0 |
786.5 |
675.0 |
|
SP G-Prior Profit Adj. |
- |
0.0 |
-14.2 |
-12.8 |
-6.1 |
|
SP Cancellation money |
- |
- |
0.0 |
-5.6 |
0.0 |
|
SP Reversal.Allow.Doubtful |
- |
- |
0.0 |
-7.3 |
-3.1 |
|
SP Rev.G on liquidation of affiliate |
- |
- |
0.0 |
-5.7 |
0.0 |
|
SP G on liquidation of accrued expense |
- |
0.0 |
-15.5 |
0.0 |
- |
|
SP Insurance income |
-76.1 |
- |
- |
- |
- |
|
SP Other Special Income |
-6.6 |
-26.9 |
-5.8 |
-3.0 |
-1.3 |
|
SP L-Prior Profit Adj. |
- |
- |
- |
0.0 |
6.0 |
|
SP Write Off Fixed |
42.0 |
15.8 |
48.8 |
33.8 |
22.3 |
|
SP Impairment Loss |
14.0 |
99.2 |
154.1 |
187.5 |
1.1 |
|
SP Loss-Valu. Inv. Secs |
7.7 |
86.5 |
0.7 |
8.0 |
0.7 |
|
SP Loss-Valu.Affili.Stk |
- |
- |
- |
0.0 |
7.9 |
|
SP Accrued Retirement |
- |
- |
- |
0.0 |
12.5 |
|
SP Allow.Dountful Acct. |
- |
0.0 |
7.7 |
7.0 |
1.7 |
|
SP L-Retire.Inventory |
- |
- |
- |
- |
0.0 |
|
SP Losses on voluntary recall |
- |
0.0 |
10.8 |
0.0 |
- |
|
SP Loss on disaster |
47.6 |
37.7 |
0.0 |
- |
- |
|
SP Other Special Loss |
26.9 |
55.6 |
59.8 |
36.0 |
25.4 |
|
NOP Loss-Retire. Inventories |
- |
- |
- |
0.0 |
16.9 |
|
NOP Litigation related expense |
- |
3.7 |
9.2 |
0.0 |
- |
|
NOP G on valuation of derivatives |
- |
- |
- |
0.0 |
-11.2 |
|
NOP L on val. of inventories |
- |
- |
- |
0.0 |
15.0 |
|
Total Operating Expense |
14,299.5 |
13,555.6 |
12,164.5 |
11,677.9 |
10,201.6 |
|
|
|
|
|
|
|
|
SP Gain-Sale Fixed |
- |
- |
0.0 |
8.0 |
39.3 |
|
SP Gain-Sale Inv. Secs. |
7.0 |
10.6 |
0.7 |
0.0 |
7.0 |
|
SP Gain-Sale Affili.Stk |
- |
- |
0.0 |
4.3 |
28.8 |
|
SP Loss-Liquid.Affili. |
- |
- |
- |
0.0 |
-36.2 |
|
SP Loss Sale Fixed Asset |
- |
- |
- |
0.0 |
-5.9 |
|
NOP Interest Income |
23.4 |
14.4 |
12.5 |
10.4 |
11.6 |
|
NOP Dividend Income |
12.3 |
11.0 |
10.9 |
9.5 |
11.9 |
|
NOP Exchange Gain |
- |
0.0 |
28.4 |
0.0 |
- |
|
NOP Equity Gain |
30.4 |
34.9 |
37.2 |
25.1 |
31.0 |
|
NOP Rental income |
9.6 |
9.2 |
0.0 |
9.3 |
0.0 |
|
NOP Other Income |
19.1 |
17.0 |
28.6 |
17.6 |
39.0 |
|
NOP Interest Expense |
-27.4 |
-28.5 |
-37.3 |
-47.5 |
-41.6 |
|
NOP Exchange Loss |
- |
-2.4 |
0.0 |
-123.7 |
0.0 |
|
NOP Other Expenses |
-25.1 |
-38.7 |
-32.5 |
-49.0 |
-73.1 |
|
Net Income Before Taxes |
913.0 |
565.4 |
482.0 |
32.5 |
453.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
310.4 |
146.7 |
241.3 |
114.7 |
178.8 |
|
Net Income After Taxes |
602.6 |
418.8 |
240.7 |
-82.2 |
274.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-73.7 |
-63.9 |
-61.6 |
-19.5 |
-27.8 |
|
Net Income Before Extra. Items |
528.8 |
354.9 |
179.2 |
-101.7 |
247.0 |
|
Net Income |
528.8 |
354.9 |
179.2 |
-101.7 |
247.0 |
|
|
|
|
|
|
|
|
Directors' Bonus |
- |
- |
- |
- |
0.0 |
|
Adjustment |
0.0 |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Income Available to Com Excl ExtraOrd |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
681.4 |
697.8 |
697.9 |
698.2 |
673.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Basic EPS Including ExtraOrdinary Item |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
Diluted Weighted Average Shares |
681.4 |
697.8 |
697.9 |
698.2 |
673.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Diluted EPS Including ExtraOrd Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
DPS-Common Stock |
0.20 |
0.19 |
0.17 |
0.16 |
0.14 |
|
Gross Dividends - Common Stock |
137.1 |
130.3 |
120.1 |
111.1 |
94.2 |
|
Normalized Income Before Taxes |
1,025.5 |
889.8 |
791.3 |
317.1 |
555.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
329.3 |
217.2 |
369.2 |
195.1 |
201.9 |
|
Normalized Income After Taxes |
696.2 |
672.6 |
422.1 |
122.0 |
353.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
622.4 |
608.6 |
360.5 |
102.4 |
325.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.91 |
0.87 |
0.52 |
0.15 |
0.48 |
|
Diluted Normalized EPS |
0.91 |
0.87 |
0.52 |
0.15 |
0.48 |
|
Advertisement |
- |
392.4 |
368.1 |
311.3 |
291.3 |
|
Research&Development(SGA) |
- |
430.7 |
383.4 |
336.0 |
287.6 |
|
Interest Expense |
27.4 |
28.5 |
37.3 |
47.5 |
41.6 |
|
Depreciation |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Amort of Goodwill |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Reported Operating Profit |
919.2 |
809.6 |
689.0 |
406.3 |
529.5 |
|
Reported Ordinary Profit |
961.5 |
822.7 |
727.6 |
258.0 |
487.6 |
|
Service Cost |
- |
73.8 |
63.1 |
60.7 |
51.4 |
|
Interest Cost |
- |
77.9 |
70.5 |
66.9 |
58.5 |
|
Expected Return on Plan Assets |
- |
-55.6 |
-66.1 |
-69.8 |
-63.3 |
|
Prior Service Cost |
- |
-25.3 |
-25.0 |
-22.7 |
-21.2 |
|
Actuarial Gains and Losses |
- |
114.7 |
108.8 |
80.3 |
53.6 |
|
Additional Retire. Benefits, Nonrecurr. |
- |
- |
0.0 |
3.4 |
12.5 |
|
Expense to System Termination |
- |
- |
0.0 |
-0.5 |
0.0 |
|
Other Pension Cost |
- |
8.6 |
4.4 |
3.7 |
5.4 |
|
Domestic Pension Plan Expense |
- |
194.0 |
155.8 |
122.0 |
96.9 |
|
Total Pension Expense |
- |
194.0 |
155.8 |
122.0 |
96.9 |
|
Discount Rate |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return |
- |
2.50% |
3.50% |
3.50% |
3.50% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
1,819.7 |
1,710.9 |
1,047.4 |
704.4 |
811.9 |
|
Note&Acct.Rcvbl. |
2,512.0 |
2,358.4 |
2,099.6 |
1,917.4 |
1,941.3 |
|
Marketable Secs. |
5.0 |
6.2 |
2.6 |
6.6 |
35.8 |
|
Merchandise&finished goods |
1,175.6 |
1,055.1 |
1,037.7 |
1,042.4 |
942.0 |
|
Work-in-progress |
96.6 |
88.9 |
94.1 |
92.6 |
80.2 |
|
Raw material & supplies |
520.0 |
488.6 |
439.4 |
356.8 |
339.8 |
|
Deferred Tax |
101.1 |
135.2 |
128.8 |
161.0 |
139.4 |
|
Other Assets |
367.6 |
402.7 |
383.7 |
311.2 |
404.1 |
|
Doubtful Account |
-14.2 |
-14.9 |
-17.6 |
-9.5 |
-13.9 |
|
Total Current Assets |
6,583.4 |
6,231.0 |
5,215.6 |
4,582.7 |
4,680.5 |
|
|
|
|
|
|
|
|
Build.&Structure |
4,257.8 |
4,230.9 |
3,820.7 |
3,408.5 |
3,435.4 |
|
Build.&Structure, Dep. |
-2,587.0 |
-2,523.3 |
-2,161.5 |
-1,855.1 |
-1,818.4 |
|
Machine&Vehicle |
6,166.5 |
6,130.3 |
5,651.1 |
5,226.7 |
5,366.7 |
|
Machine&Vehicle |
-4,766.4 |
-4,724.6 |
-4,243.1 |
-3,766.6 |
-4,037.0 |
|
Tools & Fixtures |
810.1 |
793.5 |
702.8 |
635.6 |
633.4 |
|
Tools & Fixtures, Dep. |
-688.1 |
-667.7 |
-577.0 |
-513.1 |
-491.9 |
|
Land |
1,166.9 |
1,184.4 |
1,055.5 |
1,013.9 |
1,031.0 |
|
Lease,gross |
61.9 |
43.2 |
28.4 |
11.3 |
0.0 |
|
Depr.-lease |
-26.7 |
-14.1 |
-6.1 |
-1.6 |
0.0 |
|
Construction |
322.8 |
229.4 |
136.6 |
224.0 |
268.1 |
|
Goodwill |
304.4 |
357.0 |
365.0 |
396.1 |
580.9 |
|
Other Intangible |
414.0 |
433.2 |
423.0 |
225.2 |
234.0 |
|
Investment Secs. |
1,025.6 |
391.1 |
420.8 |
835.1 |
963.5 |
|
Equity secs.-nonconsol affil.&sub. |
- |
611.6 |
530.8 |
- |
- |
|
Inv't partnership-nonconsol.affil.&subs. |
- |
9.4 |
7.7 |
- |
- |
|
LT Loan |
12.8 |
12.8 |
4.1 |
6.3 |
13.5 |
|
Deferred Tax |
94.6 |
121.7 |
83.8 |
144.5 |
90.9 |
|
Other Assets |
178.7 |
164.9 |
131.6 |
147.7 |
121.9 |
|
Allowance for investment loss |
-5.7 |
-3.2 |
0.0 |
- |
- |
|
Doubtful Account |
-9.6 |
-11.9 |
-7.8 |
-11.8 |
-14.0 |
|
Adjustment |
-0.1 |
- |
- |
- |
- |
|
Total Assets |
13,316.0 |
12,999.7 |
11,582.1 |
10,709.5 |
11,058.4 |
|
|
|
|
|
|
|
|
Note&Acct.Pybl. |
1,371.2 |
1,247.8 |
1,061.3 |
962.7 |
1,040.6 |
|
ST Borrowings |
215.9 |
195.6 |
106.6 |
270.4 |
311.8 |
|
Commercial Paper |
- |
- |
- |
0.0 |
50.2 |
|
Current portion of bond |
- |
0.0 |
160.5 |
0.0 |
200.9 |
|
Cur.Port. Debt |
53.5 |
64.1 |
63.4 |
30.9 |
33.1 |
|
Tax Payable |
114.9 |
95.3 |
140.1 |
84.3 |
70.3 |
|
Bonus Reserve |
83.7 |
81.9 |
56.6 |
49.8 |
47.8 |
|
Asset retirement obligations |
0.0 |
0.8 |
0.0 |
- |
- |
|
Reserve for Directors' Bonuses |
4.3 |
4.3 |
3.5 |
1.3 |
2.5 |
|
Other Liability |
1,063.0 |
944.6 |
850.5 |
843.2 |
842.5 |
|
Total Current Liabilities |
2,906.5 |
2,634.4 |
2,442.6 |
2,242.6 |
2,599.7 |
|
|
|
|
|
|
|
|
Corporate Bond |
849.5 |
844.5 |
749.0 |
860.5 |
502.3 |
|
LT Borrowings |
423.0 |
474.0 |
479.5 |
340.3 |
351.6 |
|
Total Long Term Debt |
1,272.5 |
1,318.4 |
1,228.5 |
1,200.7 |
853.9 |
|
|
|
|
|
|
|
|
Deferred Tax |
179.5 |
188.1 |
208.4 |
297.9 |
209.5 |
|
Allow.Accr.Retir |
764.2 |
706.5 |
563.2 |
484.5 |
460.0 |
|
Allow.Director |
12.3 |
16.1 |
11.9 |
13.3 |
19.7 |
|
Asset retirement obligations |
7.1 |
6.5 |
0.0 |
- |
- |
|
Reserve for Environment |
6.1 |
6.9 |
4.3 |
2.2 |
2.1 |
|
Other Liability |
276.1 |
276.5 |
240.0 |
204.7 |
205.1 |
|
Minority Interes |
543.9 |
508.0 |
432.5 |
338.4 |
395.8 |
|
Total Liabilities |
5,968.3 |
5,661.4 |
5,131.2 |
4,784.3 |
4,745.8 |
|
|
|
|
|
|
|
|
Common Stock |
969.4 |
963.6 |
854.7 |
808.6 |
802.4 |
|
Paid In Capital |
1,971.0 |
2,204.6 |
1,955.5 |
1,850.0 |
1,837.0 |
|
Retained Earning |
5,398.1 |
4,997.5 |
4,223.8 |
3,939.5 |
3,854.4 |
|
Treasury Stock |
-26.9 |
-30.3 |
-26.1 |
-24.1 |
-18.7 |
|
Unrealized Gain |
32.5 |
16.2 |
-2.5 |
-15.4 |
57.3 |
|
Unrealized Hedge Gain/Loss |
0.0 |
-0.4 |
-0.2 |
2.2 |
-1.4 |
|
Pension liability adjustment for an over |
-5.8 |
-3.9 |
0.0 |
- |
- |
|
Trans. Adjust. |
-990.5 |
-808.9 |
-554.4 |
-635.6 |
-218.4 |
|
Total Equity |
7,347.8 |
7,338.2 |
6,450.9 |
5,925.2 |
6,312.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
13,316.0 |
12,999.6 |
11,582.1 |
10,709.5 |
11,058.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
676.7 |
697.8 |
697.9 |
697.9 |
698.6 |
|
Total Common Shares Outstanding |
676.7 |
697.8 |
697.9 |
697.9 |
698.6 |
|
T/S-Common Stock |
2.3 |
2.3 |
2.2 |
2.1 |
1.4 |
|
Full-Time Employees |
- |
28,084 |
27,215 |
26,869 |
25,893 |
|
Number of Common Shareholders |
- |
61,613 |
60,724 |
60,907 |
51,099 |
|
LT Debt Maturing Within 1 Year |
- |
- |
- |
- |
243.7 |
|
LT Debt Maturing Within 1-2 Year |
- |
- |
- |
- |
30.9 |
|
LT Debt Maturing Within 2-3 Year |
- |
- |
- |
- |
170.1 |
|
LT Debt Maturing Within 3-4 Year |
- |
- |
- |
- |
15.8 |
|
LT Debt Maturing Within 4-5 Year |
- |
- |
- |
- |
4.8 |
|
LT Debt Remaining Maturities |
- |
- |
- |
- |
734.6 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
- |
1,199.9 |
|
Pension Obligation |
- |
3,336.5 |
2,940.4 |
2,745.6 |
2,792.5 |
|
Fair Value of Plan Assets |
- |
2,224.0 |
2,002.0 |
1,814.0 |
2,034.7 |
|
Funded Status |
- |
-1,112.5 |
-938.4 |
-931.6 |
-757.9 |
|
Total Funded Status |
- |
-1,112.5 |
-938.4 |
-931.6 |
-757.9 |
|
Discount Rate |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return |
- |
2.50% |
3.50% |
3.50% |
3.50% |
|
Unrecognized Actuarial Gains and Losses |
- |
479.5 |
478.4 |
570.2 |
435.7 |
|
Unrecognized Prior Service Cost |
- |
-62.8 |
-94.9 |
-113.3 |
-127.2 |
|
Prepaid pension |
- |
10.6 |
8.3 |
9.7 |
10.6 |
|
Reserve for Accrued Retirement Benefits |
- |
-706.5 |
-563.2 |
-484.5 |
-460.0 |
|
Net Assets Recognized on Balance Sheet |
- |
-279.2 |
-171.4 |
-17.9 |
-140.9 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
913.0 |
565.3 |
481.9 |
32.4 |
453.6 |
|
Depreciation |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Impairment Loss |
14.0 |
99.2 |
154.1 |
187.5 |
1.1 |
|
Amort. goodwill |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Loss on disaster |
47.6 |
37.7 |
0.0 |
- |
- |
|
Insurance income |
-76.1 |
- |
- |
- |
- |
|
Allow.Doubtful Acct. |
-2.7 |
-1.0 |
2.5 |
-5.0 |
6.7 |
|
Bonus Reserve |
2.9 |
18.1 |
4.2 |
1.8 |
-5.2 |
|
Reserve for Directors' Bonuses |
0.0 |
0.4 |
2.1 |
-1.1 |
0.1 |
|
Allow. Accr.Retire. |
51.9 |
70.4 |
53.7 |
21.2 |
-58.7 |
|
Allow. Director Ben. |
-4.0 |
2.6 |
-2.2 |
-6.3 |
-5.0 |
|
Reserve for Environment |
-0.8 |
2.0 |
2.0 |
0.0 |
0.0 |
|
Allowance for investment loss |
2.6 |
3.1 |
0.0 |
- |
- |
|
Interest & Dividend |
-35.7 |
-25.3 |
-23.4 |
-19.9 |
-23.5 |
|
Interest Expense |
27.4 |
28.5 |
37.3 |
47.5 |
41.6 |
|
Equity Earnings |
-30.4 |
-34.9 |
-37.2 |
-25.1 |
-31.0 |
|
G/L Sale Inv. Secs. |
-6.7 |
-10.5 |
-0.7 |
1.7 |
-6.9 |
|
Loss Valu. Inv. Secs |
7.7 |
86.5 |
0.7 |
8.0 |
0.7 |
|
Sale&Write Off Fixed |
49.7 |
15.0 |
50.4 |
26.6 |
-11.1 |
|
G/L Sale Affili. Stk |
- |
- |
0.0 |
-4.3 |
-28.8 |
|
L on valuation of affiliated sec. |
- |
0.0 |
3.5 |
2.6 |
7.9 |
|
L on liquid. of affiliated sec. |
- |
- |
- |
0.0 |
36.2 |
|
Account Receivable |
-178.5 |
-24.0 |
-57.5 |
-38.6 |
82.7 |
|
Account Payable |
133.8 |
64.5 |
44.3 |
-52.3 |
-73.1 |
|
Inventories |
-203.1 |
62.0 |
25.6 |
-207.0 |
-122.4 |
|
De/In in other current assets |
-46.6 |
- |
- |
- |
- |
|
Sale Tax Payable |
-23.0 |
0.0 |
-4.0 |
15.9 |
-0.6 |
|
Director Bonus Paid |
- |
- |
- |
- |
0.0 |
|
Gain on reversal of accrued expense |
- |
0.0 |
-15.5 |
0.0 |
- |
|
Other |
20.0 |
32.4 |
-43.9 |
71.0 |
-119.1 |
|
Int.&Divid.Received |
52.8 |
41.1 |
32.7 |
31.5 |
38.6 |
|
Interest Paid |
-27.7 |
-29.4 |
-39.9 |
-49.1 |
-40.1 |
|
Settlement Paid |
- |
- |
- |
- |
0.0 |
|
Income taxes for prior periods paid |
0.0 |
-20.3 |
0.0 |
- |
- |
|
Proceeds from insurance income |
64.4 |
- |
- |
- |
- |
|
Tax Paid |
-181.3 |
-302.2 |
-180.7 |
-128.2 |
-219.5 |
|
Incr.Consolidated |
- |
- |
- |
3.6 |
0.4 |
|
Decr. Consolidated |
- |
- |
- |
0.0 |
-1.0 |
|
Cash from Operating Activities |
1,181.8 |
1,315.3 |
1,139.6 |
518.1 |
449.4 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-575.0 |
-474.2 |
-411.8 |
-560.8 |
-546.0 |
|
Sale Fixed Assets |
17.9 |
17.6 |
5.3 |
10.5 |
67.2 |
|
Purch. Intangible |
-46.3 |
-40.7 |
-251.3 |
-46.6 |
-32.7 |
|
Purch. Inv. Secs. |
-2.7 |
-11.9 |
-6.8 |
-2.7 |
-0.8 |
|
Sale Inv. Secs. |
26.6 |
43.8 |
1.0 |
1.3 |
14.1 |
|
Sale Consoli.Sub.Stk |
- |
- |
- |
0.0 |
48.1 |
|
Purchase of subsid.secs. inflow |
- |
- |
- |
0.0 |
233.5 |
|
Purch. Affili. Stock |
-17.9 |
-1.7 |
-7.3 |
-5.0 |
-27.9 |
|
Sale Affili. Stock |
- |
- |
0.0 |
4.8 |
5.0 |
|
Time Deposit,net |
56.2 |
-64.0 |
-6.7 |
-13.7 |
-8.9 |
|
Other |
13.1 |
-4.3 |
-3.9 |
-9.7 |
0.8 |
|
Cash from Investing Activities |
-528.1 |
-535.4 |
-681.4 |
-621.8 |
-247.5 |
|
|
|
|
|
|
|
|
ST Debt, Net |
26.9 |
80.8 |
-187.1 |
3.4 |
31.7 |
|
Commercial Paper |
- |
- |
0.0 |
-49.8 |
43.7 |
|
Proc. LT Debt |
0.3 |
0.6 |
183.1 |
30.2 |
9.7 |
|
Repaid LT Debt |
-66.2 |
-69.5 |
-34.5 |
-29.4 |
-14.1 |
|
Redemp. Bond |
0.0 |
-175.0 |
0.0 |
-199.0 |
-131.2 |
|
Issue Bond |
- |
- |
0.0 |
348.2 |
0.0 |
|
Captial from Minority |
- |
- |
- |
0.0 |
12.0 |
|
Dividend Paid |
-139.3 |
-130.3 |
-120.0 |
-111.2 |
-90.3 |
|
Divid. Paid to Minor |
-28.2 |
-26.8 |
-6.4 |
-7.3 |
-7.6 |
|
Purch.Treasury Stock |
-253.9 |
-1.0 |
-0.7 |
-11.0 |
-7.9 |
|
Treasury stock sold |
0.1 |
0.1 |
0.1 |
4.6 |
0.0 |
|
Other |
-14.1 |
19.0 |
-28.1 |
0.2 |
0.0 |
|
Cash from Financing Activities |
-474.3 |
-302.2 |
-193.8 |
-21.1 |
-153.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-17.2 |
-26.2 |
29.2 |
-28.1 |
-33.3 |
|
Net Change in Cash |
162.1 |
451.6 |
293.8 |
-153.0 |
14.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,695.1 |
1,109.2 |
729.1 |
827.6 |
712.9 |
|
Net Cash - Ending Balance |
1,857.2 |
1,560.8 |
1,022.8 |
674.6 |
727.6 |
|
Cash Interest Paid |
27.7 |
29.4 |
39.9 |
49.1 |
40.1 |
|
Cash Taxes Paid |
181.3 |
322.5 |
180.7 |
128.2 |
219.5 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Ratio Comparisons
|
|
Company |
Industry |
Sector |
S&P 500 |
|
Valuation Ratios |
||||
|
P/E Excluding Extraordinary (TTM) |
18.23 |
21.55 |
18.04 |
19.68 |
|
P/E High Excluding Extraordinary - Last 5 Yrs |
38.82 |
30.50 |
31.70 |
32.79 |
|
P/E Low Excluding Extraordinary - Last 5 Yrs |
16.94 |
13.50 |
13.50 |
10.71 |
|
Beta |
0.63 |
0.55 |
0.66 |
1.00 |
|
Price/Revenue (TTM) |
0.63 |
1.70 |
2.38 |
2.57 |
|
Price/Book (MRQ) |
1.25 |
4.07 |
6.62 |
3.67 |
|
Price to Tangible Book (MRQ) |
1.39 |
7.67 |
7.14 |
5.21 |
|
Price to Cash Flow Per Share (TTM) |
7.90 |
15.25 |
13.96 |
14.22 |
|
Price to Free Cash Flow Per Share (TTM) |
22.76 |
39.77 |
35.43 |
26.26 |
|
|
|
|
|
|
|
Dividends |
||||
|
Dividend Yield |
1.43% |
2.90% |
3.17% |
2.26% |
|
Dividend Per Share - 5 Yr Avg |
16.00 |
2.61 |
2.64 |
1.99 |
|
Dividend 5 Yr Growth |
1.30% |
6.61% |
4.04% |
0.08% |
|
Payout Ratio (TTM) |
25.93% |
43.97% |
46.79% |
25.98% |
|
|
|
|
|
|
|
Growth Rates (%) |
||||
|
Revenue (MRQ) vs Qtr 1 Yr Ago |
1.96% |
11.20% |
9.73% |
15.58% |
|
Revenue (TTM) vs TTM 1 Yr Ago |
-0.86% |
10.00% |
20.06% |
17.69% |
|
Revenue 5 Yr Growth |
0.66% |
6.97% |
6.14% |
8.97% |
|
EPS (MRQ) vs Qtr 1 Yr Ago |
88.82% |
-4.50% |
6.69% |
19.49% |
|
EPS (TTM) vs TTM 1 Yr Ago |
40.39% |
13.03% |
27.67% |
32.55% |
|
EPS 5 Yr Growth |
5.58% |
7.70% |
7.73% |
9.86% |
|
Capital Spending 5 Yr Growth |
-8.43% |
7.52% |
3.06% |
-2.04% |
|
|
|
|
|
|
|
Financial Strength |
||||
|
Quick Ratio (MRQ) |
1.65 |
0.78 |
0.77 |
1.24 |
|
Current Ratio (MRQ) |
2.27 |
1.53 |
1.40 |
1.79 |
|
LT Debt/Equity (MRQ) |
0.17 |
0.94 |
0.98 |
0.64 |
|
Total Debt/Equity (MRQ) |
0.21 |
1.14 |
1.25 |
0.73 |
|
Interest Coverage (TTM) |
- |
12.42 |
16.43 |
13.80 |
|
|
|
|
|
|
|
Profitability Ratios (%) |
||||
|
Gross Margin (TTM) |
33.72% |
33.20% |
44.52% |
45.21% |
|
Gross Margin - 5 Yr Avg |
31.85% |
31.81% |
44.52% |
44.91% |
|
EBITD Margin (TTM) |
9.72% |
14.25% |
20.28% |
24.43% |
|
EBITD Margin - 5 Yr Avg |
8.45% |
13.52% |
19.53% |
22.84% |
|
Operating Margin (TTM) |
5.70% |
11.94% |
17.97% |
20.63% |
|
Operating Margin - 5 Yr Avg |
3.71% |
11.15% |
17.19% |
18.28% |
|
Pretax Margin (TTM) |
6.02% |
10.29% |
16.99% |
17.95% |
|
Pretax Margin - 5 Yr Avg |
3.68% |
9.62% |
17.19% |
17.10% |
|
Net Profit Margin (TTM) |
3.97% |
7.06% |
13.74% |
13.65% |
|
Net Profit Margin - 5 Yr Avg |
2.16% |
6.55% |
12.87% |
12.10% |
|
Effective Tax Rate (TTM) |
34.00% |
30.47% |
27.02% |
28.45% |
|
Effective Tax rate - 5 Yr Avg |
41.49% |
32.51% |
28.54% |
29.92% |
|
|
|
|
|
|
|
Management Effectiveness (%) |
||||
|
Return on Assets (TTM) |
4.38% |
7.05% |
11.53% |
8.54% |
|
Return on Assets - 5 Yr Avg |
2.39% |
7.12% |
11.74% |
8.40% |
|
Return on Investment (TTM) |
5.84% |
4.72% |
8.43% |
7.90% |
|
Return on Investment - 5 Yr Avg |
3.21% |
5.31% |
9.81% |
8.27% |
|
Return on Equity (TTM) |
6.88% |
21.45% |
29.23% |
19.72% |
|
Return on Equity - 5 Yr Avg |
3.55% |
21.78% |
31.40% |
20.06% |
|
|
|
|
|
|
|
Efficiency |
||||
|
Revenue/Employee (TTM) |
- |
568,101.59 |
633,399.19 |
927,613.77 |
|
Net Income/Employee (TTM) |
- |
34,981.76 |
83,482.45 |
116,121.92 |
|
Receivables Turnover (TTM) |
5.99 |
10.88 |
12.19 |
13.25 |
|
Inventory Turnover (TTM) |
5.61 |
6.83 |
7.35 |
14.53 |
|
Asset Turnover (TTM) |
1.10 |
1.10 |
1.00 |
0.93 |
Annual Ratios
|
Financials in:
USD (mil) Except for share
items (millions) and per share items (actual units) |
|
|
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Stock History
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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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
Revenue |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
Total Revenue |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
10,049.5 |
9,390.9 |
8,452.4 |
8,291.1 |
7,529.3 |
|
Cost of Revenue, Total |
10,049.5 |
9,390.9 |
8,452.4 |
8,291.1 |
7,529.3 |
|
Gross Profit |
5,113.8 |
4,702.7 |
4,145.6 |
3,555.3 |
3,114.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
4,194.5 |
2,073.2 |
1,814.9 |
1,724.2 |
1,416.8 |
|
Labor & Related Expense |
- |
821.1 |
733.3 |
639.2 |
512.7 |
|
Advertising Expense |
- |
392.4 |
368.1 |
311.3 |
291.3 |
|
Total Selling/General/Administrative Expenses |
4,194.5 |
3,286.7 |
2,916.3 |
2,674.6 |
2,220.9 |
|
Research & Development |
- |
430.7 |
383.4 |
336.0 |
287.6 |
|
Depreciation |
- |
123.0 |
103.1 |
83.6 |
65.1 |
|
Amortization of Acquisition Costs |
- |
52.6 |
53.8 |
54.7 |
42.9 |
|
Depreciation/Amortization |
- |
175.6 |
156.9 |
138.3 |
108.0 |
|
Litigation |
- |
3.7 |
9.2 |
0.0 |
- |
|
Impairment-Assets Held for Use |
56.1 |
115.1 |
202.9 |
221.3 |
23.4 |
|
Impairment-Assets Held for Sale |
7.7 |
86.5 |
0.7 |
8.0 |
-2.5 |
|
Other Unusual Expense (Income) |
-8.3 |
66.4 |
42.7 |
8.6 |
35.0 |
|
Unusual Expense (Income) |
55.5 |
271.7 |
255.5 |
237.9 |
55.8 |
|
Total Operating Expense |
14,299.5 |
13,555.6 |
12,164.5 |
11,677.9 |
10,201.6 |
|
|
|
|
|
|
|
|
Operating Income |
863.8 |
537.9 |
433.5 |
168.5 |
441.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-27.4 |
-28.5 |
-37.3 |
-47.5 |
-41.6 |
|
Interest Expense, Net Non-Operating |
-27.4 |
-28.5 |
-37.3 |
-47.5 |
-41.6 |
|
Interest Income -
Non-Operating |
23.4 |
14.4 |
12.5 |
10.4 |
11.6 |
|
Investment Income -
Non-Operating |
49.8 |
54.1 |
77.2 |
-84.7 |
78.7 |
|
Interest/Investment Income - Non-Operating |
73.1 |
68.5 |
89.7 |
-74.3 |
90.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
45.7 |
40.0 |
52.4 |
-121.8 |
48.7 |
|
Gain (Loss) on Sale of Assets |
- |
- |
0.0 |
8.0 |
-2.8 |
|
Other Non-Operating Income (Expense) |
3.5 |
-12.5 |
-3.9 |
-22.1 |
-34.1 |
|
Other, Net |
3.5 |
-12.5 |
-3.9 |
-22.1 |
-34.1 |
|
Income Before Tax |
913.0 |
565.4 |
482.0 |
32.5 |
453.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
310.4 |
146.7 |
241.3 |
114.7 |
178.8 |
|
Income After Tax |
602.6 |
418.8 |
240.7 |
-82.2 |
274.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-73.7 |
-63.9 |
-61.6 |
-19.5 |
-27.8 |
|
Net Income Before Extraord Items |
528.8 |
354.9 |
179.2 |
-101.7 |
247.0 |
|
Net Income |
528.8 |
354.9 |
179.2 |
-101.7 |
247.0 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Total Adjustments to Net Income |
0.0 |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Income Available to Common Excl Extraord Items |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
681.4 |
697.8 |
697.9 |
698.2 |
673.1 |
|
Basic EPS Excl Extraord Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Basic/Primary EPS Incl Extraord Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
Diluted Weighted Average Shares |
681.4 |
697.8 |
697.9 |
698.2 |
673.1 |
|
Diluted EPS Excl Extraord Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Diluted EPS Incl Extraord Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Dividends per Share - Common Stock Primary Issue |
0.20 |
0.19 |
0.17 |
0.16 |
0.14 |
|
Gross Dividends - Common Stock |
137.1 |
130.3 |
120.1 |
111.1 |
94.2 |
|
Interest Expense, Supplemental |
27.4 |
28.5 |
37.3 |
47.5 |
41.6 |
|
Depreciation, Supplemental |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Total Special Items |
112.5 |
324.3 |
309.3 |
284.7 |
101.5 |
|
Normalized Income Before Tax |
1,025.5 |
889.8 |
791.3 |
317.1 |
555.2 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
18.9 |
70.5 |
127.9 |
80.5 |
23.1 |
|
Inc Tax Ex Impact of Sp Items |
329.3 |
217.2 |
369.2 |
195.1 |
201.9 |
|
Normalized Income After Tax |
696.2 |
672.6 |
422.1 |
122.0 |
353.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
622.4 |
608.6 |
360.5 |
102.4 |
325.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.91 |
0.87 |
0.52 |
0.15 |
0.48 |
|
Diluted Normalized EPS |
0.91 |
0.87 |
0.52 |
0.15 |
0.48 |
|
Amort of Acquisition Costs, Supplemental |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Advertising Expense, Supplemental |
- |
392.4 |
368.1 |
311.3 |
291.3 |
|
Research & Development Exp, Supplemental |
- |
430.7 |
383.4 |
336.0 |
287.6 |
|
Reported Operating Profit |
919.2 |
809.6 |
689.0 |
406.3 |
529.5 |
|
Reported Ordinary Profit |
961.5 |
822.7 |
727.6 |
258.0 |
487.6 |
|
Normalized EBIT |
919.3 |
809.6 |
689.0 |
406.4 |
497.7 |
|
Normalized EBITDA |
1,529.9 |
1,443.7 |
1,338.7 |
1,010.3 |
1,023.4 |
|
Interest Cost - Domestic |
- |
77.9 |
70.5 |
66.9 |
58.5 |
|
Service Cost - Domestic |
- |
73.8 |
63.1 |
60.7 |
51.4 |
|
Prior Service Cost - Domestic |
- |
-25.3 |
-25.0 |
-22.7 |
-21.2 |
|
Expected Return on Assets - Domestic |
- |
-55.6 |
-66.1 |
-69.8 |
-63.3 |
|
Actuarial Gains and Losses - Domestic |
- |
114.7 |
108.8 |
80.3 |
53.6 |
|
Other Pension, Net - Domestic |
- |
8.6 |
4.4 |
6.6 |
17.9 |
|
Domestic Pension Plan Expense |
- |
194.0 |
155.8 |
122.0 |
96.9 |
|
Total Pension Expense |
- |
194.0 |
155.8 |
122.0 |
96.9 |
|
Discount Rate - Domestic |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
- |
2.50% |
3.50% |
3.50% |
3.50% |
|
Total Plan Interest Cost |
- |
77.9 |
70.5 |
66.9 |
58.5 |
|
Total Plan Service Cost |
- |
73.8 |
63.1 |
60.7 |
51.4 |
|
Total Plan Expected Return |
- |
-55.6 |
-66.1 |
-69.8 |
-63.3 |
|
Total Plan Other Expense |
- |
8.6 |
4.4 |
6.6 |
17.9 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
79.208816 |
77.302742 |
77.752043 |
81.605269 |
82.241044 |
|
|
|
|
|
|
|
|
Net Sales |
3,577.6 |
4,008.0 |
3,957.6 |
3,632.1 |
3,379.3 |
|
Revenue |
3,577.6 |
4,008.0 |
3,957.6 |
3,632.1 |
3,379.3 |
|
Total Revenue |
3,577.6 |
4,008.0 |
3,957.6 |
3,632.1 |
3,379.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,426.7 |
2,639.2 |
2,595.5 |
2,395.5 |
2,309.2 |
|
Cost of Revenue, Total |
2,426.7 |
2,639.2 |
2,595.5 |
2,395.5 |
2,309.2 |
|
Gross Profit |
1,150.9 |
1,368.7 |
1,362.2 |
1,236.6 |
1,070.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
1,078.7 |
1,054.7 |
1,093.1 |
971.0 |
551.8 |
|
Labor & Related Expense |
- |
- |
- |
- |
209.8 |
|
Advertising Expense |
- |
- |
- |
- |
91.8 |
|
Total Selling/General/Administrative Expenses |
1,078.7 |
1,054.7 |
1,093.1 |
971.0 |
853.4 |
|
Research & Development |
- |
- |
- |
- |
122.8 |
|
Depreciation |
- |
- |
- |
- |
35.7 |
|
Amortization of Acquisition Costs |
- |
- |
- |
- |
13.7 |
|
Depreciation/Amortization |
- |
- |
- |
- |
49.4 |
|
Impairment-Assets Held for Sale |
- |
9.5 |
- |
0.3 |
0.0 |
|
Other Unusual Expense (Income) |
12.9 |
-8.3 |
27.1 |
14.0 |
169.9 |
|
Unusual Expense (Income) |
12.9 |
1.2 |
27.1 |
14.3 |
169.9 |
|
Total Operating Expense |
3,518.2 |
3,695.2 |
3,715.6 |
3,380.7 |
3,504.7 |
|
|
|
|
|
|
|
|
Operating Income |
59.3 |
312.8 |
242.0 |
251.3 |
-125.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-6.4 |
-7.4 |
-6.7 |
-6.9 |
-6.4 |
|
Interest Expense, Net Non-Operating |
-6.4 |
-7.4 |
-6.7 |
-6.9 |
-6.4 |
|
Interest Income -
Non-Operating |
6.2 |
5.8 |
5.7 |
5.7 |
4.4 |
|
Investment Income -
Non-Operating |
7.7 |
17.8 |
3.0 |
21.0 |
11.0 |
|
Interest/Investment Income - Non-Operating |
14.0 |
23.6 |
8.6 |
26.7 |
15.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
7.5 |
16.2 |
1.9 |
19.8 |
8.9 |
|
Other Non-Operating Income (Expense) |
-1.6 |
3.8 |
6.3 |
-4.7 |
-9.4 |
|
Other, Net |
-1.6 |
3.8 |
6.3 |
-4.7 |
-9.4 |
|
Income Before Tax |
65.3 |
332.8 |
250.2 |
266.4 |
-125.9 |
|
|
|
|
|
|
|
|
Total Income Tax |
51.5 |
103.2 |
79.0 |
77.4 |
-109.9 |
|
Income After Tax |
13.8 |
229.6 |
171.2 |
189.0 |
-15.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-16.8 |
-19.0 |
-19.8 |
-18.2 |
-11.1 |
|
Net Income Before Extraord Items |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.1 |
|
Net Income |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.1 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
677.2 |
677.6 |
678.9 |
692.1 |
697.8 |
|
Basic EPS Excl Extraord Items |
0.00 |
0.31 |
0.22 |
0.25 |
-0.04 |
|
Basic/Primary EPS Incl Extraord Items |
0.00 |
0.31 |
0.22 |
0.25 |
-0.04 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.0 |
|
Diluted Weighted Average Shares |
677.2 |
677.6 |
678.9 |
692.1 |
697.8 |
|
Diluted EPS Excl Extraord Items |
0.00 |
0.31 |
0.22 |
0.25 |
-0.04 |
|
Diluted EPS Incl Extraord Items |
0.00 |
0.31 |
0.22 |
0.25 |
-0.04 |
|
Dividends per Share - Common Stock Primary Issue |
0.10 |
0.00 |
0.10 |
0.00 |
0.10 |
|
Gross Dividends - Common Stock |
68.4 |
0.0 |
69.6 |
0.0 |
67.9 |
|
Interest Expense, Supplemental |
6.4 |
7.4 |
6.7 |
6.9 |
6.4 |
|
Depreciation, Supplemental |
145.0 |
135.4 |
140.4 |
132.9 |
139.5 |
|
Total Special Items |
27.1 |
15.8 |
41.6 |
28.0 |
183.6 |
|
Normalized Income Before Tax |
92.4 |
348.6 |
291.8 |
294.5 |
57.7 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
4.5 |
0.4 |
8.6 |
4.1 |
59.5 |
|
Inc Tax Ex Impact of Sp Items |
56.0 |
103.6 |
87.6 |
81.5 |
-50.5 |
|
Normalized Income After Tax |
36.4 |
245.0 |
204.2 |
213.0 |
108.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.5 |
226.0 |
184.4 |
194.7 |
97.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.33 |
0.27 |
0.28 |
0.14 |
|
Diluted Normalized EPS |
0.03 |
0.33 |
0.27 |
0.28 |
0.14 |
|
Amort of Acquisition Costs, Supplemental |
14.2 |
14.6 |
14.5 |
13.8 |
13.7 |
|
Advertising Expense, Supplemental |
- |
- |
- |
- |
91.8 |
|
Research & Development Exp, Supplemental |
- |
- |
- |
- |
122.8 |
|
Reported Operating Profit |
72.2 |
314.0 |
269.1 |
265.6 |
44.6 |
|
Reported Ordinary Profit |
75.3 |
334.0 |
276.5 |
277.4 |
44.1 |
|
Normalized EBIT |
72.2 |
314.0 |
269.1 |
265.6 |
44.5 |
|
Normalized EBITDA |
231.5 |
463.9 |
424.0 |
412.3 |
197.7 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
1,819.7 |
1,710.9 |
1,047.4 |
704.4 |
811.9 |
|
Short Term Investments |
5.0 |
6.2 |
2.6 |
6.6 |
35.8 |
|
Cash and Short Term Investments |
1,824.7 |
1,717.1 |
1,049.9 |
710.9 |
847.7 |
|
Accounts Receivable -
Trade, Gross |
2,512.0 |
2,358.4 |
2,099.6 |
1,917.4 |
1,941.3 |
|
Provision for Doubtful
Accounts |
-14.2 |
-14.9 |
-17.6 |
-9.5 |
-13.9 |
|
Trade Accounts Receivable - Net |
2,497.8 |
2,343.5 |
2,082.0 |
1,907.9 |
1,927.3 |
|
Total Receivables, Net |
2,497.8 |
2,343.5 |
2,082.0 |
1,907.9 |
1,927.3 |
|
Inventories - Finished Goods |
1,175.6 |
1,055.1 |
1,037.7 |
1,042.4 |
942.0 |
|
Inventories - Work In Progress |
96.6 |
88.9 |
94.1 |
92.6 |
80.2 |
|
Inventories - Raw Materials |
520.0 |
488.6 |
439.4 |
356.8 |
339.8 |
|
Total Inventory |
1,792.3 |
1,632.6 |
1,571.1 |
1,491.7 |
1,361.9 |
|
Deferred Income Tax - Current Asset |
101.1 |
135.2 |
128.8 |
161.0 |
139.4 |
|
Other Current Assets |
367.6 |
402.7 |
383.7 |
311.2 |
404.1 |
|
Other Current Assets, Total |
468.7 |
537.9 |
512.5 |
472.2 |
543.6 |
|
Total Current Assets |
6,583.4 |
6,231.0 |
5,215.6 |
4,582.7 |
4,680.5 |
|
|
|
|
|
|
|
|
Buildings |
4,257.8 |
4,230.9 |
3,820.7 |
3,408.5 |
3,435.4 |
|
Land/Improvements |
1,166.9 |
1,184.4 |
1,055.5 |
1,013.9 |
1,031.0 |
|
Machinery/Equipment |
6,976.6 |
6,923.8 |
6,353.9 |
5,862.3 |
6,000.1 |
|
Construction in
Progress |
322.8 |
229.4 |
136.6 |
224.0 |
268.1 |
|
Leases |
61.9 |
43.2 |
28.4 |
11.3 |
0.0 |
|
Property/Plant/Equipment - Gross |
12,786.1 |
12,611.8 |
11,395.2 |
10,520.0 |
10,734.6 |
|
Accumulated Depreciation |
-8,068.2 |
-7,929.7 |
-6,987.7 |
-6,136.5 |
-6,347.3 |
|
Property/Plant/Equipment - Net |
4,717.9 |
4,682.1 |
4,407.5 |
4,383.6 |
4,387.3 |
|
Goodwill, Net |
304.4 |
357.0 |
365.0 |
396.1 |
580.9 |
|
Intangibles, Net |
414.0 |
433.2 |
423.0 |
225.2 |
234.0 |
|
LT Investment - Affiliate Companies |
- |
620.9 |
538.5 |
- |
- |
|
LT Investments - Other |
1,025.6 |
391.1 |
420.8 |
835.1 |
963.5 |
|
Long Term Investments |
1,025.6 |
1,012.1 |
959.3 |
835.1 |
963.5 |
|
Note Receivable - Long Term |
12.8 |
12.8 |
4.1 |
6.3 |
13.5 |
|
Deferred Income Tax - Long Term Asset |
94.6 |
121.7 |
83.8 |
144.5 |
90.9 |
|
Other Long Term Assets |
163.3 |
149.8 |
123.8 |
135.9 |
107.9 |
|
Other Long Term Assets, Total |
258.0 |
271.5 |
207.6 |
280.5 |
198.8 |
|
Total Assets |
13,316.0 |
12,999.7 |
11,582.1 |
10,709.5 |
11,058.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,371.2 |
1,247.8 |
1,061.3 |
962.7 |
1,040.6 |
|
Accrued Expenses |
88.0 |
86.2 |
60.1 |
51.1 |
50.3 |
|
Notes Payable/Short Term Debt |
215.9 |
195.6 |
106.6 |
270.4 |
362.0 |
|
Current Portion - Long Term Debt/Capital Leases |
53.5 |
64.1 |
223.9 |
30.9 |
234.0 |
|
Income Taxes Payable |
114.9 |
95.3 |
140.1 |
84.3 |
70.3 |
|
Other Current Liabilities |
1,063.0 |
945.3 |
850.5 |
843.2 |
842.5 |
|
Other Current liabilities, Total |
1,177.8 |
1,040.7 |
990.6 |
927.5 |
912.8 |
|
Total Current Liabilities |
2,906.5 |
2,634.4 |
2,442.6 |
2,242.6 |
2,599.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,272.5 |
1,318.4 |
1,228.5 |
1,200.7 |
853.9 |
|
Total Long Term Debt |
1,272.5 |
1,318.4 |
1,228.5 |
1,200.7 |
853.9 |
|
Total Debt |
1,541.9 |
1,578.1 |
1,559.0 |
1,502.0 |
1,450.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
179.5 |
188.1 |
208.4 |
297.9 |
209.5 |
|
Deferred Income Tax |
179.5 |
188.1 |
208.4 |
297.9 |
209.5 |
|
Minority Interest |
543.9 |
508.0 |
432.5 |
338.4 |
395.8 |
|
Reserves |
13.2 |
13.4 |
4.3 |
2.2 |
2.1 |
|
Pension Benefits - Underfunded |
776.6 |
722.6 |
575.1 |
497.8 |
479.6 |
|
Other Long Term Liabilities |
276.1 |
276.5 |
240.0 |
204.7 |
205.1 |
|
Other Liabilities, Total |
1,065.9 |
1,012.5 |
819.4 |
704.8 |
686.9 |
|
Total Liabilities |
5,968.3 |
5,661.4 |
5,131.2 |
4,784.3 |
4,745.8 |
|
|
|
|
|
|
|
|
Common Stock |
969.4 |
963.6 |
854.7 |
808.6 |
802.4 |
|
Common Stock |
969.4 |
963.6 |
854.7 |
808.6 |
802.4 |
|
Additional Paid-In Capital |
1,971.0 |
2,204.6 |
1,955.5 |
1,850.0 |
1,837.0 |
|
Retained Earnings (Accumulated Deficit) |
5,398.1 |
4,997.5 |
4,223.8 |
3,939.5 |
3,854.4 |
|
Treasury Stock - Common |
-26.9 |
-30.3 |
-26.1 |
-24.1 |
-18.7 |
|
Unrealized Gain (Loss) |
32.5 |
15.8 |
-2.7 |
-13.1 |
55.9 |
|
Translation Adjustment |
-990.5 |
-808.9 |
-554.4 |
-635.6 |
-218.4 |
|
Minimum Pension Liability Adjustment |
-5.8 |
-3.9 |
0.0 |
- |
- |
|
Other Equity, Total |
-996.3 |
-812.9 |
-554.4 |
-635.6 |
-218.4 |
|
Total Equity |
7,347.8 |
7,338.2 |
6,450.9 |
5,925.2 |
6,312.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
13,316.0 |
12,999.6 |
11,582.1 |
10,709.5 |
11,058.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
676.7 |
697.8 |
697.9 |
697.9 |
698.6 |
|
Total Common Shares Outstanding |
676.7 |
697.8 |
697.9 |
697.9 |
698.6 |
|
Treasury Shares - Common Stock Primary Issue |
2.3 |
2.3 |
2.2 |
2.1 |
1.4 |
|
Employees |
- |
28,084 |
27,215 |
26,869 |
25,893 |
|
Number of Common Shareholders |
- |
61,613 |
60,724 |
60,907 |
51,099 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
- |
1,199.9 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
- |
243.7 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
- |
30.9 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
- |
170.1 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
- |
15.8 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
- |
4.8 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
- |
201.0 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
- |
20.5 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
- |
734.6 |
|
Pension Obligation - Domestic |
- |
3,336.5 |
2,940.4 |
2,745.6 |
2,792.5 |
|
Plan Assets - Domestic |
- |
2,224.0 |
2,002.0 |
1,814.0 |
2,034.7 |
|
Funded Status - Domestic |
- |
-1,112.5 |
-938.4 |
-931.6 |
-757.9 |
|
Total Funded Status |
- |
-1,112.5 |
-938.4 |
-931.6 |
-757.9 |
|
Discount Rate - Domestic |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
- |
2.50% |
3.50% |
3.50% |
3.50% |
|
Prepaid Benefits - Domestic |
- |
10.6 |
8.3 |
9.7 |
10.6 |
|
Accrued Liabilities - Domestic |
- |
-706.5 |
-563.2 |
-484.5 |
-460.0 |
|
Other Assets, Net - Domestic |
- |
416.6 |
383.5 |
456.8 |
308.5 |
|
Net Assets Recognized on Balance Sheet |
- |
-279.2 |
-171.4 |
-17.9 |
-140.9 |
|
Total Plan Obligations |
- |
3,336.5 |
2,940.4 |
2,745.6 |
2,792.5 |
|
Total Plan Assets |
- |
2,224.0 |
2,002.0 |
1,814.0 |
2,034.7 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
76.94 |
77.08 |
80.76 |
82.88 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
1,819.7 |
1,602.6 |
1,524.3 |
1,442.4 |
1,710.9 |
|
Short Term Investments |
5.0 |
6.0 |
6.3 |
5.0 |
6.2 |
|
Cash and Short Term Investments |
1,824.7 |
1,608.5 |
1,530.6 |
1,447.4 |
1,717.1 |
|
Accounts Receivable -
Trade, Gross |
2,512.0 |
2,822.8 |
2,510.3 |
2,397.4 |
2,358.4 |
|
Provision for Doubtful
Accounts |
-14.2 |
-14.0 |
-14.2 |
-14.8 |
-14.9 |
|
Trade Accounts Receivable - Net |
2,497.8 |
2,808.8 |
2,496.1 |
2,382.6 |
2,343.5 |
|
Total Receivables, Net |
2,497.8 |
2,808.8 |
2,496.1 |
2,382.6 |
2,343.5 |
|
Inventories - Finished Goods |
1,175.6 |
1,172.1 |
1,192.6 |
1,188.2 |
1,055.1 |
|
Inventories - Work In Progress |
96.6 |
109.4 |
92.6 |
92.7 |
88.9 |
|
Inventories - Raw Materials |
520.0 |
512.2 |
516.7 |
497.5 |
488.6 |
|
Total Inventory |
1,792.3 |
1,793.7 |
1,801.9 |
1,778.4 |
1,632.6 |
|
Deferred Income Tax - Current Asset |
101.1 |
163.5 |
155.8 |
147.3 |
135.2 |
|
Other Current Assets |
367.6 |
406.3 |
443.6 |
565.3 |
402.7 |
|
Other Current Assets, Total |
468.7 |
569.8 |
599.4 |
712.6 |
537.9 |
|
Total Current Assets |
6,583.4 |
6,780.9 |
6,428.1 |
6,321.1 |
6,231.0 |
|
|
|
|
|
|
|
|
Buildings |
4,257.8 |
4,415.7 |
4,392.5 |
4,346.0 |
4,230.9 |
|
Land/Improvements |
1,166.9 |
1,247.3 |
1,245.3 |
1,214.2 |
1,184.4 |
|
Machinery/Equipment |
6,166.5 |
6,351.3 |
6,303.3 |
6,273.9 |
6,130.3 |
|
Construction in
Progress |
322.8 |
259.4 |
260.6 |
227.6 |
229.4 |
|
Other
Property/Plant/Equipment |
872.0 |
907.6 |
894.1 |
863.2 |
836.7 |
|
Property/Plant/Equipment - Gross |
12,786.1 |
13,181.4 |
13,095.8 |
12,925.0 |
12,611.8 |
|
Accumulated Depreciation |
-8,068.2 |
-8,409.5 |
-8,325.0 |
-8,169.5 |
-7,929.7 |
|
Property/Plant/Equipment - Net |
4,717.9 |
4,771.9 |
4,770.7 |
4,755.5 |
4,682.1 |
|
Goodwill, Net |
304.4 |
340.6 |
354.5 |
352.3 |
357.0 |
|
Intangibles, Net |
414.0 |
437.1 |
446.6 |
431.8 |
433.2 |
|
LT Investments - Other |
1,025.6 |
1,056.3 |
1,063.8 |
1,036.8 |
1,002.7 |
|
Long Term Investments |
1,025.6 |
1,056.3 |
1,063.8 |
1,036.8 |
1,002.7 |
|
Note Receivable - Long Term |
12.8 |
13.5 |
13.5 |
12.6 |
12.8 |
|
Deferred Income Tax - Long Term Asset |
94.6 |
101.2 |
110.5 |
119.5 |
121.7 |
|
Other Long Term Assets |
163.3 |
149.6 |
151.8 |
149.5 |
159.2 |
|
Other Long Term Assets, Total |
258.0 |
250.8 |
262.2 |
269.1 |
280.9 |
|
Total Assets |
13,316.0 |
13,651.0 |
13,339.4 |
13,179.1 |
12,999.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,371.2 |
1,487.2 |
1,365.8 |
1,343.7 |
1,247.8 |
|
Accrued Expenses |
88.0 |
48.2 |
80.2 |
58.1 |
86.2 |
|
Notes Payable/Short Term Debt |
215.9 |
232.4 |
196.1 |
260.6 |
195.6 |
|
Current Portion - Long Term Debt/Capital Leases |
53.5 |
60.9 |
64.1 |
65.5 |
64.1 |
|
Income Taxes Payable |
114.9 |
165.6 |
117.4 |
100.6 |
95.3 |
|
Other Current Liabilities |
1,063.0 |
906.2 |
877.4 |
885.8 |
945.3 |
|
Other Current liabilities, Total |
1,177.8 |
1,071.8 |
994.9 |
986.4 |
1,040.7 |
|
Total Current Liabilities |
2,906.5 |
2,900.5 |
2,701.1 |
2,714.4 |
2,634.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,272.5 |
1,374.3 |
1,385.4 |
1,336.1 |
1,318.4 |
|
Total Long Term Debt |
1,272.5 |
1,374.3 |
1,385.4 |
1,336.1 |
1,318.4 |
|
Total Debt |
1,541.9 |
1,667.5 |
1,645.5 |
1,662.2 |
1,578.1 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
179.5 |
162.0 |
189.4 |
188.0 |
188.1 |
|
Deferred Income Tax |
179.5 |
162.0 |
189.4 |
188.0 |
188.1 |
|
Minority Interest |
543.9 |
529.6 |
512.0 |
503.2 |
508.0 |
|
Reserves |
13.2 |
17.3 |
14.9 |
14.2 |
13.4 |
|
Pension Benefits - Underfunded |
776.6 |
807.5 |
793.2 |
746.1 |
722.6 |
|
Other Long Term Liabilities |
276.1 |
283.1 |
285.2 |
282.2 |
276.5 |
|
Other Liabilities, Total |
1,065.9 |
1,107.9 |
1,093.4 |
1,042.5 |
1,012.5 |
|
Total Liabilities |
5,968.3 |
6,074.3 |
5,881.1 |
5,784.2 |
5,661.4 |
|
|
|
|
|
|
|
|
Common Stock |
969.4 |
1,038.0 |
1,036.1 |
988.9 |
963.6 |
|
Common Stock |
969.4 |
1,038.0 |
1,036.1 |
988.9 |
963.6 |
|
Additional Paid-In Capital |
1,971.0 |
2,110.5 |
2,106.7 |
2,262.5 |
2,204.6 |
|
Retained Earnings (Accumulated Deficit) |
5,398.1 |
5,782.6 |
5,631.6 |
5,231.6 |
4,997.5 |
|
Treasury Stock - Common |
-26.9 |
-28.7 |
-28.6 |
-211.1 |
-30.3 |
|
Unrealized Gain (Loss) |
32.5 |
3.1 |
9.7 |
10.8 |
15.8 |
|
Translation Adjustment |
-990.5 |
-1,325.2 |
-1,293.8 |
-884.2 |
-808.9 |
|
Minimum Pension Liability Adjustment |
-5.8 |
-3.5 |
-3.5 |
-3.5 |
-3.9 |
|
Other Equity, Total |
-996.3 |
-1,328.8 |
-1,297.2 |
-887.7 |
-812.9 |
|
Total Equity |
7,347.8 |
7,576.7 |
7,458.3 |
7,394.9 |
7,338.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
13,316.0 |
13,651.0 |
13,339.4 |
13,179.1 |
12,999.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
676.7 |
676.7 |
676.7 |
682.2 |
697.8 |
|
Total Common Shares Outstanding |
676.7 |
676.7 |
676.7 |
682.2 |
697.8 |
|
Treasury Shares - Common Stock Primary Issue |
2.3 |
2.3 |
2.3 |
17.8 |
2.3 |
|
Employees |
- |
- |
- |
- |
28,084 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
913.0 |
565.3 |
481.9 |
32.4 |
453.6 |
|
Depreciation |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Depreciation/Depletion |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Amortization of Acquisition Costs |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Amortization |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Unusual Items |
36.2 |
228.0 |
192.5 |
222.0 |
-0.8 |
|
Equity in Net Earnings (Loss) |
-30.4 |
-34.9 |
-37.2 |
-25.1 |
-31.0 |
|
Other Non-Cash Items |
38.7 |
80.2 |
69.9 |
41.0 |
-39.5 |
|
Non-Cash Items |
44.6 |
273.3 |
225.2 |
237.9 |
-71.3 |
|
Accounts Receivable |
-178.5 |
-24.0 |
-57.5 |
-38.6 |
82.7 |
|
Inventories |
-203.1 |
62.0 |
25.6 |
-207.0 |
-122.4 |
|
Other Assets |
-46.6 |
- |
- |
- |
- |
|
Accounts Payable |
133.8 |
64.5 |
44.3 |
-52.3 |
-73.1 |
|
Accrued Expenses |
2.8 |
18.5 |
6.3 |
0.7 |
-5.1 |
|
Taxes Payable |
-23.0 |
0.0 |
-4.0 |
15.9 |
-0.6 |
|
Other Operating Cash Flow |
-71.9 |
-278.3 |
-231.8 |
-74.9 |
-340.1 |
|
Changes in Working Capital |
-386.5 |
-157.3 |
-217.1 |
-356.2 |
-458.6 |
|
Cash from Operating Activities |
1,181.8 |
1,315.3 |
1,139.6 |
518.1 |
449.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-575.0 |
-474.2 |
-411.8 |
-560.8 |
-546.0 |
|
Purchase/Acquisition of Intangibles |
-46.3 |
-40.7 |
-251.3 |
-46.6 |
-32.7 |
|
Capital Expenditures |
-621.3 |
-514.9 |
-663.1 |
-607.4 |
-578.7 |
|
Acquisition of Business |
- |
- |
- |
0.0 |
233.5 |
|
Sale of Business |
- |
- |
- |
0.0 |
48.1 |
|
Sale of Fixed Assets |
17.9 |
17.6 |
5.3 |
10.5 |
67.2 |
|
Sale/Maturity of Investment |
26.6 |
43.8 |
1.0 |
6.1 |
19.1 |
|
Investment, Net |
56.2 |
-64.0 |
-6.7 |
-13.7 |
-8.9 |
|
Purchase of Investments |
-20.6 |
-13.6 |
-14.1 |
-7.7 |
-28.8 |
|
Other Investing Cash Flow |
13.1 |
-4.3 |
-3.9 |
-9.7 |
0.8 |
|
Other Investing Cash Flow Items, Total |
93.2 |
-20.5 |
-18.3 |
-14.5 |
331.2 |
|
Cash from Investing Activities |
-528.1 |
-535.4 |
-681.4 |
-621.8 |
-247.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-42.3 |
-7.8 |
-34.5 |
-7.1 |
4.5 |
|
Financing Cash Flow Items |
-42.3 |
-7.8 |
-34.5 |
-7.1 |
4.5 |
|
Cash Dividends Paid - Common |
-139.3 |
-130.3 |
-120.0 |
-111.2 |
-90.3 |
|
Total Cash Dividends Paid |
-139.3 |
-130.3 |
-120.0 |
-111.2 |
-90.3 |
|
Sale/Issuance of
Common |
0.1 |
0.1 |
0.1 |
4.6 |
0.0 |
|
Repurchase/Retirement
of Common |
-253.9 |
-1.0 |
-0.7 |
-11.0 |
-7.9 |
|
Common Stock, Net |
-253.8 |
-0.9 |
-0.7 |
-6.4 |
-7.9 |
|
Issuance (Retirement) of Stock, Net |
-253.8 |
-0.9 |
-0.7 |
-6.4 |
-7.9 |
|
Short Term Debt, Net |
26.9 |
80.8 |
-187.1 |
-46.4 |
75.4 |
|
Long Term Debt Issued |
0.3 |
0.6 |
183.1 |
378.4 |
9.7 |
|
Long Term Debt
Reduction |
-66.2 |
-244.6 |
-34.5 |
-228.4 |
-145.3 |
|
Long Term Debt, Net |
-65.9 |
-243.9 |
148.5 |
150.0 |
-135.6 |
|
Issuance (Retirement) of Debt, Net |
-39.0 |
-163.2 |
-38.5 |
103.6 |
-60.2 |
|
Cash from Financing Activities |
-474.3 |
-302.2 |
-193.8 |
-21.1 |
-153.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-17.2 |
-26.2 |
29.2 |
-28.1 |
-33.3 |
|
Net Change in Cash |
162.1 |
451.6 |
293.8 |
-153.0 |
14.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,695.1 |
1,109.2 |
729.1 |
827.6 |
712.9 |
|
Net Cash - Ending Balance |
1,857.2 |
1,560.8 |
1,022.8 |
674.6 |
727.6 |
|
Cash Interest Paid |
27.7 |
29.4 |
39.9 |
49.1 |
40.1 |
|
Cash Taxes Paid |
181.3 |
322.5 |
180.7 |
128.2 |
219.5 |
Interim Cash Flows
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 |
12 Months |
9 Months |
6 Months |
3 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
78.871359 |
79.672811 |
81.605269 |
85.691434 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
913.0 |
848.5 |
517.1 |
266.4 |
565.3 |
|
Depreciation |
553.7 |
408.6 |
273.1 |
132.9 |
581.4 |
|
Depreciation/Depletion |
553.7 |
408.6 |
273.1 |
132.9 |
581.4 |
|
Amortization of Acquisition Costs |
57.0 |
42.8 |
28.3 |
13.8 |
52.6 |
|
Amortization |
57.0 |
42.8 |
28.3 |
13.8 |
52.6 |
|
Unusual Items |
36.2 |
32.0 |
31.7 |
12.8 |
228.0 |
|
Equity in Net Earnings (Loss) |
-30.4 |
-25.9 |
-13.2 |
-11.4 |
-34.9 |
|
Other Non-Cash Items |
38.7 |
-24.0 |
-3.3 |
-34.2 |
80.2 |
|
Non-Cash Items |
44.6 |
-17.9 |
15.3 |
-32.7 |
273.3 |
|
Accounts Receivable |
-178.5 |
-352.4 |
-46.7 |
14.6 |
-24.0 |
|
Inventories |
-203.1 |
-150.3 |
-152.1 |
-118.1 |
62.0 |
|
Other Assets |
-46.6 |
-47.4 |
-81.6 |
-74.6 |
- |
|
Accounts Payable |
133.8 |
171.6 |
51.1 |
67.8 |
64.5 |
|
Accrued Expenses |
2.8 |
- |
- |
- |
18.5 |
|
Taxes Payable |
-23.0 |
- |
- |
- |
0.0 |
|
Other Liabilities |
- |
-99.3 |
-45.7 |
-92.9 |
- |
|
Other Operating Cash Flow |
-71.9 |
-87.2 |
-92.2 |
-71.7 |
-278.3 |
|
Changes in Working Capital |
-386.5 |
-565.0 |
-367.3 |
-275.0 |
-157.3 |
|
Cash from Operating Activities |
1,181.8 |
717.1 |
466.5 |
105.4 |
1,315.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-575.0 |
-422.8 |
-299.7 |
-125.1 |
-474.2 |
|
Purchase/Acquisition of Intangibles |
-46.3 |
-24.8 |
-17.4 |
-6.8 |
-40.7 |
|
Capital Expenditures |
-621.3 |
-447.5 |
-317.1 |
-131.9 |
-514.9 |
|
Sale of Fixed Assets |
17.9 |
16.9 |
2.6 |
0.6 |
17.6 |
|
Sale/Maturity of Investment |
26.6 |
- |
- |
- |
43.8 |
|
Investment, Net |
56.2 |
45.3 |
41.0 |
42.2 |
-64.0 |
|
Purchase of Investments |
-20.6 |
-1.3 |
- |
- |
-13.6 |
|
Other Investing Cash Flow |
13.1 |
11.3 |
7.0 |
8.0 |
-4.3 |
|
Other Investing Cash Flow Items, Total |
93.2 |
72.1 |
50.6 |
50.8 |
-20.5 |
|
Cash from Investing Activities |
-528.1 |
-375.4 |
-266.5 |
-81.1 |
-535.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-42.3 |
-36.4 |
-31.1 |
-70.9 |
-7.8 |
|
Financing Cash Flow Items |
-42.3 |
-36.4 |
-31.1 |
-70.9 |
-7.8 |
|
Cash Dividends Paid - Common |
-139.3 |
-138.9 |
-70.0 |
-63.6 |
-130.3 |
|
Total Cash Dividends Paid |
-139.3 |
-138.9 |
-70.0 |
-63.6 |
-130.3 |
|
Sale/Issuance of
Common |
0.1 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Repurchase/Retirement
of Common |
-253.9 |
-254.0 |
-251.3 |
-178.1 |
-1.0 |
|
Common Stock, Net |
-253.8 |
-253.9 |
-251.3 |
-178.1 |
-0.9 |
|
Issuance (Retirement) of Stock, Net |
-253.8 |
-253.9 |
-251.3 |
-178.1 |
-0.9 |
|
Short Term Debt, Net |
26.9 |
42.9 |
6.6 |
61.5 |
80.8 |
|
Long Term Debt Issued |
0.3 |
1.7 |
1.7 |
0.0 |
0.6 |
|
Long Term Debt
Reduction |
-66.2 |
-51.4 |
-34.4 |
-16.7 |
-244.6 |
|
Long Term Debt, Net |
-65.9 |
-49.7 |
-32.7 |
-16.7 |
-243.9 |
|
Issuance (Retirement) of Debt, Net |
-39.0 |
-6.7 |
-26.1 |
44.8 |
-163.2 |
|
Cash from Financing Activities |
-474.3 |
-435.9 |
-378.5 |
-267.9 |
-302.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-17.2 |
-88.1 |
-79.5 |
-26.5 |
-26.2 |
|
Net Change in Cash |
162.1 |
-182.3 |
-258.0 |
-270.0 |
451.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,695.1 |
1,697.0 |
1,680.0 |
1,638.8 |
1,109.2 |
|
Net Cash - Ending Balance |
1,857.2 |
1,514.7 |
1,422.0 |
1,368.8 |
1,560.8 |
|
Cash Interest Paid |
27.7 |
18.9 |
14.9 |
5.4 |
29.4 |
|
Cash Taxes Paid |
181.3 |
158.3 |
87.0 |
77.9 |
322.5 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
Total Revenue |
15,163.3 |
14,093.5 |
12,598.0 |
11,846.3 |
10,643.5 |
|
|
|
|
|
|
|
|
Cost of Sales |
10,049.5 |
9,390.9 |
8,452.4 |
8,291.1 |
7,497.4 |
|
Total SGA |
4,194.5 |
- |
- |
- |
- |
|
Shipping |
- |
390.4 |
340.8 |
340.8 |
282.0 |
|
Advertisment |
- |
392.4 |
368.1 |
311.3 |
291.3 |
|
Sales Commissions |
- |
724.6 |
630.1 |
596.8 |
459.8 |
|
Salaries |
- |
501.6 |
461.0 |
413.8 |
332.6 |
|
Allowance Bonus&bonus |
- |
208.9 |
182.2 |
155.5 |
135.2 |
|
Accrued Retirement |
- |
110.7 |
90.0 |
69.9 |
44.9 |
|
Depreciation |
- |
123.0 |
103.1 |
83.6 |
65.1 |
|
Research&Development |
- |
430.7 |
383.4 |
336.0 |
287.6 |
|
Amortization of Goodwill |
- |
52.6 |
53.8 |
54.7 |
42.9 |
|
Other SGA |
- |
958.3 |
844.0 |
786.5 |
675.0 |
|
SP G-Prior Profit Adj. |
- |
0.0 |
-14.2 |
-12.8 |
-6.1 |
|
SP Cancellation money |
- |
- |
0.0 |
-5.6 |
0.0 |
|
SP Reversal.Allow.Doubtful |
- |
- |
0.0 |
-7.3 |
-3.1 |
|
SP Rev.G on liquidation of affiliate |
- |
- |
0.0 |
-5.7 |
0.0 |
|
SP G on liquidation of accrued expense |
- |
0.0 |
-15.5 |
0.0 |
- |
|
SP Insurance income |
-76.1 |
- |
- |
- |
- |
|
SP Other Special Income |
-6.6 |
-26.9 |
-5.8 |
-3.0 |
-1.3 |
|
SP L-Prior Profit Adj. |
- |
- |
- |
0.0 |
6.0 |
|
SP Write Off Fixed |
42.0 |
15.8 |
48.8 |
33.8 |
22.3 |
|
SP Impairment Loss |
14.0 |
99.2 |
154.1 |
187.5 |
1.1 |
|
SP Loss-Valu. Inv. Secs |
7.7 |
86.5 |
0.7 |
8.0 |
0.7 |
|
SP Loss-Valu.Affili.Stk |
- |
- |
- |
0.0 |
7.9 |
|
SP Accrued Retirement |
- |
- |
- |
0.0 |
12.5 |
|
SP Allow.Dountful Acct. |
- |
0.0 |
7.7 |
7.0 |
1.7 |
|
SP L-Retire.Inventory |
- |
- |
- |
- |
0.0 |
|
SP Losses on voluntary recall |
- |
0.0 |
10.8 |
0.0 |
- |
|
SP Loss on disaster |
47.6 |
37.7 |
0.0 |
- |
- |
|
SP Other Special Loss |
26.9 |
55.6 |
59.8 |
36.0 |
25.4 |
|
NOP Loss-Retire. Inventories |
- |
- |
- |
0.0 |
16.9 |
|
NOP Litigation related expense |
- |
3.7 |
9.2 |
0.0 |
- |
|
NOP G on valuation of derivatives |
- |
- |
- |
0.0 |
-11.2 |
|
NOP L on val. of inventories |
- |
- |
- |
0.0 |
15.0 |
|
Total Operating Expense |
14,299.5 |
13,555.6 |
12,164.5 |
11,677.9 |
10,201.6 |
|
|
|
|
|
|
|
|
SP Gain-Sale Fixed |
- |
- |
0.0 |
8.0 |
39.3 |
|
SP Gain-Sale Inv. Secs. |
7.0 |
10.6 |
0.7 |
0.0 |
7.0 |
|
SP Gain-Sale Affili.Stk |
- |
- |
0.0 |
4.3 |
28.8 |
|
SP Loss-Liquid.Affili. |
- |
- |
- |
0.0 |
-36.2 |
|
SP Loss Sale Fixed Asset |
- |
- |
- |
0.0 |
-5.9 |
|
NOP Interest Income |
23.4 |
14.4 |
12.5 |
10.4 |
11.6 |
|
NOP Dividend Income |
12.3 |
11.0 |
10.9 |
9.5 |
11.9 |
|
NOP Exchange Gain |
- |
0.0 |
28.4 |
0.0 |
- |
|
NOP Equity Gain |
30.4 |
34.9 |
37.2 |
25.1 |
31.0 |
|
NOP Rental income |
9.6 |
9.2 |
0.0 |
9.3 |
0.0 |
|
NOP Other Income |
19.1 |
17.0 |
28.6 |
17.6 |
39.0 |
|
NOP Interest Expense |
-27.4 |
-28.5 |
-37.3 |
-47.5 |
-41.6 |
|
NOP Exchange Loss |
- |
-2.4 |
0.0 |
-123.7 |
0.0 |
|
NOP Other Expenses |
-25.1 |
-38.7 |
-32.5 |
-49.0 |
-73.1 |
|
Net Income Before Taxes |
913.0 |
565.4 |
482.0 |
32.5 |
453.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
310.4 |
146.7 |
241.3 |
114.7 |
178.8 |
|
Net Income After Taxes |
602.6 |
418.8 |
240.7 |
-82.2 |
274.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-73.7 |
-63.9 |
-61.6 |
-19.5 |
-27.8 |
|
Net Income Before Extra. Items |
528.8 |
354.9 |
179.2 |
-101.7 |
247.0 |
|
Net Income |
528.8 |
354.9 |
179.2 |
-101.7 |
247.0 |
|
|
|
|
|
|
|
|
Directors' Bonus |
- |
- |
- |
- |
0.0 |
|
Adjustment |
0.0 |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Income Available to Com Excl ExtraOrd |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
681.4 |
697.8 |
697.9 |
698.2 |
673.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Basic EPS Including ExtraOrdinary Item |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
528.8 |
354.8 |
179.1 |
-101.8 |
247.0 |
|
Diluted Weighted Average Shares |
681.4 |
697.8 |
697.9 |
698.2 |
673.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
Diluted EPS Including ExtraOrd Items |
0.78 |
0.51 |
0.26 |
-0.15 |
0.37 |
|
DPS-Common Stock |
0.20 |
0.19 |
0.17 |
0.16 |
0.14 |
|
Gross Dividends - Common Stock |
137.1 |
130.3 |
120.1 |
111.1 |
94.2 |
|
Normalized Income Before Taxes |
1,025.5 |
889.8 |
791.3 |
317.1 |
555.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
329.3 |
217.2 |
369.2 |
195.1 |
201.9 |
|
Normalized Income After Taxes |
696.2 |
672.6 |
422.1 |
122.0 |
353.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
622.4 |
608.6 |
360.5 |
102.4 |
325.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.91 |
0.87 |
0.52 |
0.15 |
0.48 |
|
Diluted Normalized EPS |
0.91 |
0.87 |
0.52 |
0.15 |
0.48 |
|
Advertisement |
- |
392.4 |
368.1 |
311.3 |
291.3 |
|
Research&Development(SGA) |
- |
430.7 |
383.4 |
336.0 |
287.6 |
|
Interest Expense |
27.4 |
28.5 |
37.3 |
47.5 |
41.6 |
|
Depreciation |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Amort of Goodwill |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Reported Operating Profit |
919.2 |
809.6 |
689.0 |
406.3 |
529.5 |
|
Reported Ordinary Profit |
961.5 |
822.7 |
727.6 |
258.0 |
487.6 |
|
Service Cost |
- |
73.8 |
63.1 |
60.7 |
51.4 |
|
Interest Cost |
- |
77.9 |
70.5 |
66.9 |
58.5 |
|
Expected Return on Plan Assets |
- |
-55.6 |
-66.1 |
-69.8 |
-63.3 |
|
Prior Service Cost |
- |
-25.3 |
-25.0 |
-22.7 |
-21.2 |
|
Actuarial Gains and Losses |
- |
114.7 |
108.8 |
80.3 |
53.6 |
|
Additional Retire. Benefits, Nonrecurr. |
- |
- |
0.0 |
3.4 |
12.5 |
|
Expense to System Termination |
- |
- |
0.0 |
-0.5 |
0.0 |
|
Other Pension Cost |
- |
8.6 |
4.4 |
3.7 |
5.4 |
|
Domestic Pension Plan Expense |
- |
194.0 |
155.8 |
122.0 |
96.9 |
|
Total Pension Expense |
- |
194.0 |
155.8 |
122.0 |
96.9 |
|
Discount Rate |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return |
- |
2.50% |
3.50% |
3.50% |
3.50% |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
79.208816 |
77.302742 |
77.752043 |
81.605269 |
82.241044 |
|
|
|
|
|
|
|
|
Net sales |
3,577.6 |
4,008.0 |
3,957.6 |
3,632.1 |
3,379.3 |
|
Total Revenue |
3,577.6 |
4,008.0 |
3,957.6 |
3,632.1 |
3,379.3 |
|
|
|
|
|
|
|
|
Cost of Sales |
2,426.7 |
2,639.2 |
2,595.5 |
2,395.5 |
2,309.2 |
|
Selling, general and administrative expe |
1,078.7 |
1,054.7 |
1,093.1 |
971.0 |
- |
|
Shipping |
- |
- |
- |
- |
96.2 |
|
Advertising expenses |
- |
- |
- |
- |
91.8 |
|
Sales Commissions |
- |
- |
- |
- |
186.0 |
|
Payrolls |
- |
- |
- |
- |
134.8 |
|
Provision for bonuses&bonuses |
- |
- |
- |
- |
53.6 |
|
Periodic retirement benefit costs |
- |
- |
- |
- |
21.4 |
|
Depreciation expenses |
- |
- |
- |
- |
35.7 |
|
R&D expenses |
- |
- |
- |
- |
122.8 |
|
Amortization of goodwill |
- |
- |
- |
- |
13.7 |
|
Other general expenses |
- |
- |
- |
- |
269.6 |
|
SP G-Prior Profit Adj. |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
SP G on liquidation of accrued expense |
- |
- |
- |
- |
0.0 |
|
SP Other Special Income |
-35.2 |
-46.1 |
-1.0 |
-1.2 |
-41.1 |
|
SP Valuation Investment Secs |
- |
9.5 |
- |
0.3 |
- |
|
SP Allow.Dountful Acct. |
- |
- |
- |
- |
0.0 |
|
SP Loss on disaster |
5.3 |
26.2 |
6.6 |
9.8 |
- |
|
SP Other Special Loss |
42.8 |
11.6 |
21.5 |
5.4 |
211.0 |
|
NOP G on valuation of derivatives |
- |
- |
- |
- |
0.0 |
|
Total Operating Expense |
3,518.2 |
3,695.2 |
3,715.6 |
3,380.7 |
3,504.7 |
|
|
|
|
|
|
|
|
SP Gain-Sale Inv. Secs. |
2.8 |
0.0 |
0.8 |
3.3 |
- |
|
NOP Interest Income |
6.2 |
5.8 |
5.7 |
5.7 |
4.4 |
|
NOP Dividend Income |
0.4 |
4.9 |
0.6 |
6.3 |
0.8 |
|
NOP Equity Gain |
4.5 |
12.9 |
1.5 |
11.4 |
5.8 |
|
NOP Foreign exchange gains |
- |
- |
- |
- |
4.4 |
|
NOP Other Income |
- |
11.8 |
14.0 |
4.9 |
- |
|
NOP Interest Expense |
-6.4 |
-7.4 |
-6.7 |
-6.9 |
-6.4 |
|
NOP Other Expenses |
-1.6 |
-8.0 |
-7.7 |
-9.6 |
-9.4 |
|
Net Income Before Taxes |
65.3 |
332.8 |
250.2 |
266.4 |
-125.9 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
51.5 |
103.2 |
79.0 |
77.4 |
-109.9 |
|
Net Income After Taxes |
13.8 |
229.6 |
171.2 |
189.0 |
-15.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-16.8 |
-19.0 |
-19.8 |
-18.2 |
-11.1 |
|
Net Income Before Extra. Items |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.1 |
|
Net Income |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.1 |
|
|
|
|
|
|
|
|
Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
677.2 |
677.6 |
678.9 |
692.1 |
697.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.00 |
0.31 |
0.22 |
0.25 |
-0.04 |
|
Basic EPS Including ExtraOrdinary Item |
0.00 |
0.31 |
0.22 |
0.25 |
-0.04 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-3.0 |
210.6 |
151.4 |
170.8 |
-27.0 |
|
Diluted Weighted Average Shares |
677.2 |
677.6 |
678.9 |
692.1 |
697.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.00 |
0.31 |
0.22 |
0.25 |
-0.04 |
|
Diluted EPS Including ExtraOrd Items |
0.00 |
0.31 |
0.22 |
0.25 |
-0.04 |
|
DPS-Common Stock |
0.10 |
0.00 |
0.10 |
0.00 |
0.10 |
|
Gross Dividends - Common Stock |
68.4 |
0.0 |
69.6 |
0.0 |
67.9 |
|
Normalized Income Before Taxes |
92.4 |
348.6 |
291.8 |
294.5 |
57.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
56.0 |
103.6 |
87.6 |
81.5 |
-50.5 |
|
Normalized Income After Taxes |
36.4 |
245.0 |
204.2 |
213.0 |
108.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.5 |
226.0 |
184.4 |
194.7 |
97.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.33 |
0.27 |
0.28 |
0.14 |
|
Diluted Normalized EPS |
0.03 |
0.33 |
0.27 |
0.28 |
0.14 |
|
Interest Expense |
6.4 |
7.4 |
6.7 |
6.9 |
6.4 |
|
Depreciation |
145.0 |
135.4 |
140.4 |
132.9 |
139.5 |
|
Amort of Goodwill |
14.2 |
14.6 |
14.5 |
13.8 |
13.7 |
|
Advertisement Expenses |
- |
- |
- |
- |
91.8 |
|
Research and Development Expenses |
- |
- |
- |
- |
122.8 |
|
Reported Operating Profit |
72.2 |
314.0 |
269.1 |
265.6 |
44.6 |
|
Reported Ordinary Profit |
75.3 |
334.0 |
276.5 |
277.4 |
44.1 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
1,819.7 |
1,710.9 |
1,047.4 |
704.4 |
811.9 |
|
Note&Acct.Rcvbl. |
2,512.0 |
2,358.4 |
2,099.6 |
1,917.4 |
1,941.3 |
|
Marketable Secs. |
5.0 |
6.2 |
2.6 |
6.6 |
35.8 |
|
Merchandise&finished goods |
1,175.6 |
1,055.1 |
1,037.7 |
1,042.4 |
942.0 |
|
Work-in-progress |
96.6 |
88.9 |
94.1 |
92.6 |
80.2 |
|
Raw material & supplies |
520.0 |
488.6 |
439.4 |
356.8 |
339.8 |
|
Deferred Tax |
101.1 |
135.2 |
128.8 |
161.0 |
139.4 |
|
Other Assets |
367.6 |
402.7 |
383.7 |
311.2 |
404.1 |
|
Doubtful Account |
-14.2 |
-14.9 |
-17.6 |
-9.5 |
-13.9 |
|
Total Current Assets |
6,583.4 |
6,231.0 |
5,215.6 |
4,582.7 |
4,680.5 |
|
|
|
|
|
|
|
|
Build.&Structure |
4,257.8 |
4,230.9 |
3,820.7 |
3,408.5 |
3,435.4 |
|
Build.&Structure, Dep. |
-2,587.0 |
-2,523.3 |
-2,161.5 |
-1,855.1 |
-1,818.4 |
|
Machine&Vehicle |
6,166.5 |
6,130.3 |
5,651.1 |
5,226.7 |
5,366.7 |
|
Machine&Vehicle |
-4,766.4 |
-4,724.6 |
-4,243.1 |
-3,766.6 |
-4,037.0 |
|
Tools & Fixtures |
810.1 |
793.5 |
702.8 |
635.6 |
633.4 |
|
Tools & Fixtures, Dep. |
-688.1 |
-667.7 |
-577.0 |
-513.1 |
-491.9 |
|
Land |
1,166.9 |
1,184.4 |
1,055.5 |
1,013.9 |
1,031.0 |
|
Lease,gross |
61.9 |
43.2 |
28.4 |
11.3 |
0.0 |
|
Depr.-lease |
-26.7 |
-14.1 |
-6.1 |
-1.6 |
0.0 |
|
Construction |
322.8 |
229.4 |
136.6 |
224.0 |
268.1 |
|
Goodwill |
304.4 |
357.0 |
365.0 |
396.1 |
580.9 |
|
Other Intangible |
414.0 |
433.2 |
423.0 |
225.2 |
234.0 |
|
Investment Secs. |
1,025.6 |
391.1 |
420.8 |
835.1 |
963.5 |
|
Equity secs.-nonconsol affil.&sub. |
- |
611.6 |
530.8 |
- |
- |
|
Inv't partnership-nonconsol.affil.&subs. |
- |
9.4 |
7.7 |
- |
- |
|
LT Loan |
12.8 |
12.8 |
4.1 |
6.3 |
13.5 |
|
Deferred Tax |
94.6 |
121.7 |
83.8 |
144.5 |
90.9 |
|
Other Assets |
178.7 |
164.9 |
131.6 |
147.7 |
121.9 |
|
Allowance for investment loss |
-5.7 |
-3.2 |
0.0 |
- |
- |
|
Doubtful Account |
-9.6 |
-11.9 |
-7.8 |
-11.8 |
-14.0 |
|
Adjustment |
-0.1 |
- |
- |
- |
- |
|
Total Assets |
13,316.0 |
12,999.7 |
11,582.1 |
10,709.5 |
11,058.4 |
|
|
|
|
|
|
|
|
Note&Acct.Pybl. |
1,371.2 |
1,247.8 |
1,061.3 |
962.7 |
1,040.6 |
|
ST Borrowings |
215.9 |
195.6 |
106.6 |
270.4 |
311.8 |
|
Commercial Paper |
- |
- |
- |
0.0 |
50.2 |
|
Current portion of bond |
- |
0.0 |
160.5 |
0.0 |
200.9 |
|
Cur.Port. Debt |
53.5 |
64.1 |
63.4 |
30.9 |
33.1 |
|
Tax Payable |
114.9 |
95.3 |
140.1 |
84.3 |
70.3 |
|
Bonus Reserve |
83.7 |
81.9 |
56.6 |
49.8 |
47.8 |
|
Asset retirement obligations |
0.0 |
0.8 |
0.0 |
- |
- |
|
Reserve for Directors' Bonuses |
4.3 |
4.3 |
3.5 |
1.3 |
2.5 |
|
Other Liability |
1,063.0 |
944.6 |
850.5 |
843.2 |
842.5 |
|
Total Current Liabilities |
2,906.5 |
2,634.4 |
2,442.6 |
2,242.6 |
2,599.7 |
|
|
|
|
|
|
|
|
Corporate Bond |
849.5 |
844.5 |
749.0 |
860.5 |
502.3 |
|
LT Borrowings |
423.0 |
474.0 |
479.5 |
340.3 |
351.6 |
|
Total Long Term Debt |
1,272.5 |
1,318.4 |
1,228.5 |
1,200.7 |
853.9 |
|
|
|
|
|
|
|
|
Deferred Tax |
179.5 |
188.1 |
208.4 |
297.9 |
209.5 |
|
Allow.Accr.Retir |
764.2 |
706.5 |
563.2 |
484.5 |
460.0 |
|
Allow.Director |
12.3 |
16.1 |
11.9 |
13.3 |
19.7 |
|
Asset retirement obligations |
7.1 |
6.5 |
0.0 |
- |
- |
|
Reserve for Environment |
6.1 |
6.9 |
4.3 |
2.2 |
2.1 |
|
Other Liability |
276.1 |
276.5 |
240.0 |
204.7 |
205.1 |
|
Minority Interes |
543.9 |
508.0 |
432.5 |
338.4 |
395.8 |
|
Total Liabilities |
5,968.3 |
5,661.4 |
5,131.2 |
4,784.3 |
4,745.8 |
|
|
|
|
|
|
|
|
Common Stock |
969.4 |
963.6 |
854.7 |
808.6 |
802.4 |
|
Paid In Capital |
1,971.0 |
2,204.6 |
1,955.5 |
1,850.0 |
1,837.0 |
|
Retained Earning |
5,398.1 |
4,997.5 |
4,223.8 |
3,939.5 |
3,854.4 |
|
Treasury Stock |
-26.9 |
-30.3 |
-26.1 |
-24.1 |
-18.7 |
|
Unrealized Gain |
32.5 |
16.2 |
-2.5 |
-15.4 |
57.3 |
|
Unrealized Hedge Gain/Loss |
0.0 |
-0.4 |
-0.2 |
2.2 |
-1.4 |
|
Pension liability adjustment for an over |
-5.8 |
-3.9 |
0.0 |
- |
- |
|
Trans. Adjust. |
-990.5 |
-808.9 |
-554.4 |
-635.6 |
-218.4 |
|
Total Equity |
7,347.8 |
7,338.2 |
6,450.9 |
5,925.2 |
6,312.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
13,316.0 |
12,999.6 |
11,582.1 |
10,709.5 |
11,058.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
676.7 |
697.8 |
697.9 |
697.9 |
698.6 |
|
Total Common Shares Outstanding |
676.7 |
697.8 |
697.9 |
697.9 |
698.6 |
|
T/S-Common Stock |
2.3 |
2.3 |
2.2 |
2.1 |
1.4 |
|
Full-Time Employees |
- |
28,084 |
27,215 |
26,869 |
25,893 |
|
Number of Common Shareholders |
- |
61,613 |
60,724 |
60,907 |
51,099 |
|
LT Debt Maturing Within 1 Year |
- |
- |
- |
- |
243.7 |
|
LT Debt Maturing Within 1-2 Year |
- |
- |
- |
- |
30.9 |
|
LT Debt Maturing Within 2-3 Year |
- |
- |
- |
- |
170.1 |
|
LT Debt Maturing Within 3-4 Year |
- |
- |
- |
- |
15.8 |
|
LT Debt Maturing Within 4-5 Year |
- |
- |
- |
- |
4.8 |
|
LT Debt Remaining Maturities |
- |
- |
- |
- |
734.6 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
- |
1,199.9 |
|
Pension Obligation |
- |
3,336.5 |
2,940.4 |
2,745.6 |
2,792.5 |
|
Fair Value of Plan Assets |
- |
2,224.0 |
2,002.0 |
1,814.0 |
2,034.7 |
|
Funded Status |
- |
-1,112.5 |
-938.4 |
-931.6 |
-757.9 |
|
Total Funded Status |
- |
-1,112.5 |
-938.4 |
-931.6 |
-757.9 |
|
Discount Rate |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return |
- |
2.50% |
3.50% |
3.50% |
3.50% |
|
Unrecognized Actuarial Gains and Losses |
- |
479.5 |
478.4 |
570.2 |
435.7 |
|
Unrecognized Prior Service Cost |
- |
-62.8 |
-94.9 |
-113.3 |
-127.2 |
|
Prepaid pension |
- |
10.6 |
8.3 |
9.7 |
10.6 |
|
Reserve for Accrued Retirement Benefits |
- |
-706.5 |
-563.2 |
-484.5 |
-460.0 |
|
Net Assets Recognized on Balance Sheet |
- |
-279.2 |
-171.4 |
-17.9 |
-140.9 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
76.94 |
77.08 |
80.76 |
82.88 |
|
|
|
|
|
|
|
|
Cash & Deposit |
1,819.7 |
1,602.6 |
1,524.3 |
1,442.4 |
1,710.9 |
|
Note&Acct.Rcvbl. |
2,512.0 |
2,822.8 |
2,510.3 |
2,397.4 |
2,358.4 |
|
Marketable Secs. |
5.0 |
6.0 |
6.3 |
5.0 |
6.2 |
|
Inventories - merchandise&finished goods |
1,175.6 |
1,172.1 |
1,192.6 |
1,188.2 |
1,055.1 |
|
Inventories - work-in-process |
96.6 |
109.4 |
92.6 |
92.7 |
88.9 |
|
Inventories - raw materials&supplies |
520.0 |
512.2 |
516.7 |
497.5 |
488.6 |
|
Deferred tax assets |
101.1 |
163.5 |
155.8 |
147.3 |
135.2 |
|
Other |
367.6 |
406.3 |
443.6 |
565.3 |
402.7 |
|
Allowance for doubtful accounts |
-14.2 |
-14.0 |
-14.2 |
-14.8 |
-14.9 |
|
Total Current Assets |
6,583.4 |
6,780.9 |
6,428.1 |
6,321.1 |
6,231.0 |
|
|
|
|
|
|
|
|
Build.&Structure |
4,257.8 |
4,415.7 |
4,392.5 |
4,346.0 |
4,230.9 |
|
Depre.&impair.-Build.&Structure |
-2,587.0 |
-2,691.8 |
-2,659.9 |
-2,609.4 |
-2,523.3 |
|
Machine&Vehicle |
6,166.5 |
6,351.3 |
6,303.3 |
6,273.9 |
6,130.3 |
|
Depre.&impair.-Machine&Vehicle |
-4,766.4 |
-4,964.0 |
-4,929.3 |
-4,854.0 |
-4,724.6 |
|
Land |
1,166.9 |
1,247.3 |
1,245.3 |
1,214.2 |
1,184.4 |
|
Const. Progress |
322.8 |
259.4 |
260.6 |
227.6 |
229.4 |
|
Other |
872.0 |
907.6 |
894.1 |
863.2 |
836.7 |
|
Depre.&impair.-other |
-714.8 |
-753.6 |
-735.8 |
-706.1 |
-681.9 |
|
Goodwill |
304.4 |
340.6 |
354.5 |
352.3 |
357.0 |
|
Other intangible |
414.0 |
437.1 |
446.6 |
431.8 |
433.2 |
|
Investment Secs. |
1,025.6 |
1,056.3 |
1,063.8 |
1,036.8 |
1,002.7 |
|
LT Loan |
12.8 |
13.5 |
13.5 |
12.6 |
12.8 |
|
Deferred tax assets |
94.6 |
101.2 |
110.5 |
119.5 |
121.7 |
|
Other |
178.7 |
163.5 |
167.5 |
165.0 |
171.1 |
|
Allowance for doubtful accounts |
-9.6 |
-10.6 |
-12.4 |
-12.2 |
-11.9 |
|
Allowance for investment loss |
-5.7 |
-3.3 |
-3.3 |
-3.2 |
- |
|
Adjustment |
-0.1 |
-0.1 |
- |
-0.1 |
- |
|
Total Assets |
13,316.0 |
13,651.0 |
13,339.4 |
13,179.1 |
12,999.7 |
|
|
|
|
|
|
|
|
Note&Acct.Pybl. |
1,371.2 |
1,487.2 |
1,365.8 |
1,343.7 |
1,247.8 |
|
ST Borrowings |
215.9 |
232.4 |
196.1 |
260.6 |
195.6 |
|
Cur.Port. Debt |
53.5 |
60.9 |
64.1 |
65.5 |
64.1 |
|
Current portion of bonds |
- |
- |
- |
- |
0.0 |
|
Tax Payable |
114.9 |
165.6 |
117.4 |
100.6 |
95.3 |
|
Bonus Reserve |
83.7 |
45.2 |
77.8 |
57.1 |
81.9 |
|
Directors' Bonus Reserve |
4.3 |
3.0 |
2.4 |
1.0 |
4.3 |
|
Asset retirement obligations |
0.0 |
0.0 |
0.0 |
0.1 |
0.8 |
|
Other |
1,063.0 |
906.2 |
877.4 |
885.7 |
944.6 |
|
Total Current Liabilities |
2,906.5 |
2,900.5 |
2,701.1 |
2,714.4 |
2,634.4 |
|
Corporate Bond |
849.5 |
909.7 |
908.0 |
866.6 |
844.5 |
|
LT Borrowings |
423.0 |
464.6 |
477.3 |
469.4 |
474.0 |
|
Total Long Term Debt |
1,272.5 |
1,374.3 |
1,385.4 |
1,336.1 |
1,318.4 |
|
|
|
|
|
|
|
|
Deferred Tax |
179.5 |
162.0 |
189.4 |
188.0 |
188.1 |
|
Allow.Accr.Retir |
764.2 |
794.5 |
780.6 |
734.3 |
706.5 |
|
Allow.Director |
12.3 |
13.0 |
12.6 |
11.8 |
16.1 |
|
Provi. for loss for guarantee to subs |
- |
2.4 |
- |
- |
0.0 |
|
Reserve for Environment |
6.1 |
7.4 |
7.4 |
7.1 |
6.9 |
|
Asset retirement obligations |
7.1 |
7.5 |
7.5 |
7.1 |
6.5 |
|
Other |
276.1 |
283.1 |
285.2 |
282.2 |
276.5 |
|
Minority Interes |
543.9 |
529.6 |
512.0 |
503.2 |
508.0 |
|
Total Liabilities |
5,968.3 |
6,074.3 |
5,881.1 |
5,784.2 |
5,661.4 |
|
|
|
|
|
|
|
|
Common Stock |
969.4 |
1,038.0 |
1,036.1 |
988.9 |
963.6 |
|
Paid In Capital |
1,971.0 |
2,110.5 |
2,106.7 |
2,262.5 |
2,204.6 |
|
Retained earnings |
5,398.1 |
5,782.6 |
5,631.6 |
5,231.6 |
4,997.5 |
|
Treasury Stock |
-26.9 |
-28.7 |
-28.6 |
-211.1 |
-30.3 |
|
Unrealized Gain Secs. |
32.5 |
3.0 |
11.9 |
11.9 |
16.2 |
|
Unrealized Gain Hedge |
0.0 |
0.0 |
-2.2 |
-1.1 |
-0.4 |
|
Trans. Adjust. |
-990.5 |
-1,325.2 |
-1,293.8 |
-884.2 |
-808.9 |
|
Pension liability adjustment for an over |
-5.8 |
-3.5 |
-3.5 |
-3.5 |
-3.9 |
|
Total Equity |
7,347.8 |
7,576.7 |
7,458.3 |
7,394.9 |
7,338.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
13,316.0 |
13,651.0 |
13,339.4 |
13,179.1 |
12,999.6 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
676.7 |
676.7 |
676.7 |
682.2 |
697.8 |
|
Total Common Shares Outstanding |
676.7 |
676.7 |
676.7 |
682.2 |
697.8 |
|
T/S-Common Stock |
2.3 |
2.3 |
2.3 |
17.8 |
2.3 |
|
Full-Time Employees |
- |
- |
- |
- |
28,084 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
|
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
913.0 |
565.3 |
481.9 |
32.4 |
453.6 |
|
Depreciation |
553.7 |
581.4 |
595.9 |
549.3 |
482.8 |
|
Impairment Loss |
14.0 |
99.2 |
154.1 |
187.5 |
1.1 |
|
Amort. goodwill |
57.0 |
52.6 |
53.8 |
54.7 |
42.9 |
|
Loss on disaster |
47.6 |
37.7 |
0.0 |
- |
- |
|
Insurance income |
-76.1 |
- |
- |
- |
- |
|
Allow.Doubtful Acct. |
-2.7 |
-1.0 |
2.5 |
-5.0 |
6.7 |
|
Bonus Reserve |
2.9 |
18.1 |
4.2 |
1.8 |
-5.2 |
|
Reserve for Directors' Bonuses |
0.0 |
0.4 |
2.1 |
-1.1 |
0.1 |
|
Allow. Accr.Retire. |
51.9 |
70.4 |
53.7 |
21.2 |
-58.7 |
|
Allow. Director Ben. |
-4.0 |
2.6 |
-2.2 |
-6.3 |
-5.0 |
|
Reserve for Environment |
-0.8 |
2.0 |
2.0 |
0.0 |
0.0 |
|
Allowance for investment loss |
2.6 |
3.1 |
0.0 |
- |
- |
|
Interest & Dividend |
-35.7 |
-25.3 |
-23.4 |
-19.9 |
-23.5 |
|
Interest Expense |
27.4 |
28.5 |
37.3 |
47.5 |
41.6 |
|
Equity Earnings |
-30.4 |
-34.9 |
-37.2 |
-25.1 |
-31.0 |
|
G/L Sale Inv. Secs. |
-6.7 |
-10.5 |
-0.7 |
1.7 |
-6.9 |
|
Loss Valu. Inv. Secs |
7.7 |
86.5 |
0.7 |
8.0 |
0.7 |
|
Sale&Write Off Fixed |
49.7 |
15.0 |
50.4 |
26.6 |
-11.1 |
|
G/L Sale Affili. Stk |
- |
- |
0.0 |
-4.3 |
-28.8 |
|
L on valuation of affiliated sec. |
- |
0.0 |
3.5 |
2.6 |
7.9 |
|
L on liquid. of affiliated sec. |
- |
- |
- |
0.0 |
36.2 |
|
Account Receivable |
-178.5 |
-24.0 |
-57.5 |
-38.6 |
82.7 |
|
Account Payable |
133.8 |
64.5 |
44.3 |
-52.3 |
-73.1 |
|
Inventories |
-203.1 |
62.0 |
25.6 |
-207.0 |
-122.4 |
|
De/In in other current assets |
-46.6 |
- |
- |
- |
- |
|
Sale Tax Payable |
-23.0 |
0.0 |
-4.0 |
15.9 |
-0.6 |
|
Director Bonus Paid |
- |
- |
- |
- |
0.0 |
|
Gain on reversal of accrued expense |
- |
0.0 |
-15.5 |
0.0 |
- |
|
Other |
20.0 |
32.4 |
-43.9 |
71.0 |
-119.1 |
|
Int.&Divid.Received |
52.8 |
41.1 |
32.7 |
31.5 |
38.6 |
|
Interest Paid |
-27.7 |
-29.4 |
-39.9 |
-49.1 |
-40.1 |
|
Settlement Paid |
- |
- |
- |
- |
0.0 |
|
Income taxes for prior periods paid |
0.0 |
-20.3 |
0.0 |
- |
- |
|
Proceeds from insurance income |
64.4 |
- |
- |
- |
- |
|
Tax Paid |
-181.3 |
-302.2 |
-180.7 |
-128.2 |
-219.5 |
|
Incr.Consolidated |
- |
- |
- |
3.6 |
0.4 |
|
Decr. Consolidated |
- |
- |
- |
0.0 |
-1.0 |
|
Cash from Operating Activities |
1,181.8 |
1,315.3 |
1,139.6 |
518.1 |
449.4 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-575.0 |
-474.2 |
-411.8 |
-560.8 |
-546.0 |
|
Sale Fixed Assets |
17.9 |
17.6 |
5.3 |
10.5 |
67.2 |
|
Purch. Intangible |
-46.3 |
-40.7 |
-251.3 |
-46.6 |
-32.7 |
|
Purch. Inv. Secs. |
-2.7 |
-11.9 |
-6.8 |
-2.7 |
-0.8 |
|
Sale Inv. Secs. |
26.6 |
43.8 |
1.0 |
1.3 |
14.1 |
|
Sale Consoli.Sub.Stk |
- |
- |
- |
0.0 |
48.1 |
|
Purchase of subsid.secs. inflow |
- |
- |
- |
0.0 |
233.5 |
|
Purch. Affili. Stock |
-17.9 |
-1.7 |
-7.3 |
-5.0 |
-27.9 |
|
Sale Affili. Stock |
- |
- |
0.0 |
4.8 |
5.0 |
|
Time Deposit,net |
56.2 |
-64.0 |
-6.7 |
-13.7 |
-8.9 |
|
Other |
13.1 |
-4.3 |
-3.9 |
-9.7 |
0.8 |
|
Cash from Investing Activities |
-528.1 |
-535.4 |
-681.4 |
-621.8 |
-247.5 |
|
|
|
|
|
|
|
|
ST Debt, Net |
26.9 |
80.8 |
-187.1 |
3.4 |
31.7 |
|
Commercial Paper |
- |
- |
0.0 |
-49.8 |
43.7 |
|
Proc. LT Debt |
0.3 |
0.6 |
183.1 |
30.2 |
9.7 |
|
Repaid LT Debt |
-66.2 |
-69.5 |
-34.5 |
-29.4 |
-14.1 |
|
Redemp. Bond |
0.0 |
-175.0 |
0.0 |
-199.0 |
-131.2 |
|
Issue Bond |
- |
- |
0.0 |
348.2 |
0.0 |
|
Captial from Minority |
- |
- |
- |
0.0 |
12.0 |
|
Dividend Paid |
-139.3 |
-130.3 |
-120.0 |
-111.2 |
-90.3 |
|
Divid. Paid to Minor |
-28.2 |
-26.8 |
-6.4 |
-7.3 |
-7.6 |
|
Purch.Treasury Stock |
-253.9 |
-1.0 |
-0.7 |
-11.0 |
-7.9 |
|
Treasury stock sold |
0.1 |
0.1 |
0.1 |
4.6 |
0.0 |
|
Other |
-14.1 |
19.0 |
-28.1 |
0.2 |
0.0 |
|
Cash from Financing Activities |
-474.3 |
-302.2 |
-193.8 |
-21.1 |
-153.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-17.2 |
-26.2 |
29.2 |
-28.1 |
-33.3 |
|
Net Change in Cash |
162.1 |
451.6 |
293.8 |
-153.0 |
14.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,695.1 |
1,109.2 |
729.1 |
827.6 |
712.9 |
|
Net Cash - Ending Balance |
1,857.2 |
1,560.8 |
1,022.8 |
674.6 |
727.6 |
|
Cash Interest Paid |
27.7 |
29.4 |
39.9 |
49.1 |
40.1 |
|
Cash Taxes Paid |
181.3 |
322.5 |
180.7 |
128.2 |
219.5 |
Interim Cash Flows
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 |
12 Months |
9 Months |
6 Months |
3 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
78.871359 |
79.672811 |
81.605269 |
85.691434 |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
913.0 |
848.5 |
517.1 |
266.4 |
565.3 |
|
Depreciation |
553.7 |
408.6 |
273.1 |
132.9 |
581.4 |
|
Impairment Loss |
14.0 |
- |
- |
- |
99.2 |
|
Amort. of goodwill |
57.0 |
42.8 |
28.3 |
13.8 |
52.6 |
|
Loss on disaster |
47.6 |
42.3 |
16.5 |
9.8 |
37.7 |
|
Allow.Doubtful Acct. |
-2.7 |
- |
- |
- |
-1.0 |
|
Reserve |
- |
-15.9 |
1.5 |
-29.1 |
- |
|
Insurrance Received |
-76.1 |
-39.1 |
- |
- |
- |
|
Bonus Reserve |
2.9 |
- |
- |
- |
18.1 |
|
Directors' Bonus Reserve |
0.0 |
- |
- |
- |
0.4 |
|
Allow. Accr.Retire. |
51.9 |
- |
- |
- |
70.4 |
|
Allow. Director Ben. |
-4.0 |
- |
- |
- |
2.6 |
|
Reserve for Environment |
-0.8 |
- |
- |
- |
2.0 |
|
Allowance for investment loss |
2.6 |
- |
- |
- |
3.1 |
|
Interest & Dividend |
-35.7 |
-29.1 |
-18.4 |
-12.0 |
-25.3 |
|
Interest Expense |
27.4 |
21.0 |
13.6 |
6.9 |
28.5 |
|
Equity G/L |
-30.4 |
-25.9 |
-13.2 |
-11.4 |
-34.9 |
|
G/L Sale Inv. Secs. |
-6.7 |
-3.9 |
- |
- |
-10.5 |
|
Loss Valu. Inv. Secs |
7.7 |
9.6 |
0.1 |
0.3 |
86.5 |
|
Sale&Write Off Fixed |
49.7 |
23.0 |
15.1 |
2.7 |
15.0 |
|
L on valuation of affiliated sec. |
- |
- |
- |
- |
0.0 |
|
Account Receivable |
-178.5 |
-352.4 |
-46.7 |
14.6 |
-24.0 |
|
Account Payable |
133.8 |
171.6 |
51.1 |
67.8 |
64.5 |
|
Inventories |
-203.1 |
-150.3 |
-152.1 |
-118.1 |
62.0 |
|
(Inc) Dec in other current assets |
-46.6 |
-47.4 |
-81.6 |
-74.6 |
- |
|
Gain on liqui. of accrued expense |
- |
- |
- |
- |
0.0 |
|
Increase (decrease) in other current lia |
- |
-99.3 |
-45.7 |
-92.9 |
- |
|
Sale Tax Payable |
-23.0 |
- |
- |
- |
0.0 |
|
Other |
20.0 |
4.8 |
-19.3 |
-10.4 |
32.4 |
|
Insurrance received |
64.4 |
39.1 |
- |
- |
- |
|
Int.&Divid.Received |
52.8 |
46.1 |
29.0 |
22.0 |
41.1 |
|
Interest Paid |
-27.7 |
-18.9 |
-14.9 |
-5.4 |
-29.4 |
|
Tax Paid |
-181.3 |
-158.3 |
-87.0 |
-77.9 |
-302.2 |
|
Prior tax paid |
0.0 |
0.0 |
0.0 |
0.0 |
-20.3 |
|
Incr.Consolidated |
0.0 |
- |
- |
- |
- |
|
Cash from Operating Activities |
1,181.8 |
717.1 |
466.5 |
105.4 |
1,315.3 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-575.0 |
-422.8 |
-299.7 |
-125.1 |
-474.2 |
|
Sale Fixed Assets |
17.9 |
16.9 |
2.6 |
0.6 |
17.6 |
|
Purch. Intangible |
-46.3 |
-24.8 |
-17.4 |
-6.8 |
-40.7 |
|
Purch. Inv. Secs. |
-2.7 |
11.4 |
- |
- |
-11.9 |
|
Sale Inv. Secs. |
26.6 |
- |
- |
- |
43.8 |
|
Purch. Affili. Stock |
-17.9 |
-12.8 |
- |
- |
-1.7 |
|
Time Deposit,net |
56.2 |
45.3 |
- |
- |
-64.0 |
|
Net change in time deposit |
- |
- |
41.0 |
42.2 |
- |
|
Other |
13.1 |
11.3 |
7.0 |
8.0 |
-4.3 |
|
Cash from Investing Activities |
-528.1 |
-375.4 |
-266.5 |
-81.1 |
-535.4 |
|
|
|
|
|
|
|
|
ST Debt, Net |
26.9 |
42.9 |
6.6 |
61.5 |
80.8 |
|
Proc. LT Debt |
0.3 |
1.7 |
1.7 |
0.0 |
0.6 |
|
Repaid LT Debt |
-66.2 |
-51.4 |
-34.4 |
-16.7 |
-69.5 |
|
Redemp. Bond |
0.0 |
0.0 |
0.0 |
0.0 |
-175.0 |
|
Dividend Paid |
-139.3 |
-138.9 |
-70.0 |
-63.6 |
-130.3 |
|
Divid. Paid to Minor |
-28.2 |
-27.3 |
-25.0 |
- |
-26.8 |
|
Purch.Treasury Stock |
-253.9 |
-254.0 |
-251.3 |
-178.1 |
-1.0 |
|
Treasury stock sold |
0.1 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Change in Totten trust toTreasury stock |
- |
- |
- |
-67.1 |
- |
|
Other |
-14.1 |
-9.1 |
-6.1 |
-3.8 |
19.0 |
|
Cash from Financing Activities |
-474.3 |
-435.9 |
-378.5 |
-267.9 |
-302.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-17.2 |
-88.1 |
-79.5 |
-26.5 |
-26.2 |
|
Net Change in Cash |
162.1 |
-182.3 |
-258.0 |
-270.0 |
451.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,695.1 |
1,697.0 |
1,680.0 |
1,638.8 |
1,109.2 |
|
Net Cash - Ending Balance |
1,857.2 |
1,514.7 |
1,422.0 |
1,368.8 |
1,560.8 |
|
Cash Interest Paid |
27.7 |
18.9 |
14.9 |
5.4 |
29.4 |
|
Cash Taxes Paid |
181.3 |
158.3 |
87.0 |
77.9 |
322.5 |
Geographic Segments
Financials in: As Reported (mil)
|
Annual |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geographic Segments
Financials in: As Reported (mil)
|
Interim |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Segments
Financials in: As Reported (mil)
|
Annual |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Segments
Financials in: As Reported (mil)
|
Interim |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.55 |
|
UK Pound |
1 |
Rs.85.48 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through %)
are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.