MIRA INFORM REPORT

 

 

Report Date :

25.07.2012

 

IDENTIFICATION DETAILS

 

Name :

TOHO CO., LTD.

 

 

Registered Office :

1-2-2, Yuraku-cho, Chiyoda-ku, Tokyo, 100-8415

 

 

Country :

Japan

 

 

Financials (as on) :

29.02.2012

 

 

Date of Incorporation :

12.08.1932

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Public Parent Company

 

 

Line of Business :

Subject is engaged in movie, theater and real estate businesses

 

 

No. of Employees :

3,171

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Good

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES:

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

 

ECGC Country Risk Classification List – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address 

 

TOHO CO., LTD.

1-2-2, Yuraku-cho, Chiyoda-ku

Tokyo, 100-8415

Japan

Tel:       81-3-35911214

Fax:      81 (3) 3580-8900

 

 

Synthesis     

 

Employees:                  3,171

Company Type:            Public Parent

Corporate Family:          12 Companies

Traded:                         Tokyo Stock Exchange: 9602

Incorporation Date:         12-Aug-1932

Auditor:                        Deloitte & Touche LLP   

Financials in:                 USD (Millions)

Fiscal Year End:            29-Feb-2012

Reporting Currency:       Japanese Yen

Annual Sales:                2,298.6  1

Net Income:                  125.0

Total Assets:                 3,990.6  2

Market Value:                3,273.2 (29-Jun-2012)

 

 

Business Description     

 

TOHO CO., LTD. is mainly engaged in movie, theater and real estate businesses. The Company operates in four business segments. The Movie segment is engaged in the production, distribution and showing of movies, as well as the production and sale of visual software. The Theater segment is engaged in the production and showing of theaters. The Real Estate segment is engaged in the leasing, maintenance and management of real estate, as well as the management, cleaning and repair of roads. The Others segment is engaged in other business activities, including the operation of entertainment facilities, shops and restaurants, the provision of accounting consulting and guidance services, as well as the operation and management of fee-charging nursing homes and group homes. On February 29, 2012, the Company dissolved its Tokyo-based wholly owned subsidiary. For the nine months ended 30 November 2011, Toho CO., LTD.'s revenues decreased 11% to Y136.07B. The Company's net income decreased 44% to Y5.54B. Revenues reflect lower sales from movies, theaters and real estate business segments. Lower net income also suffered from higher percentage of cost of sales and selling, general & administrative expenses, as well as the presence of loss on change of accounting.

 

Industry             

Industry            Motion Pictures

ANZSIC 2006:    5511 - Motion Picture and Video Production

NACE 2002:      9211 - Motion picture and video production

NAICS 2002:     51211 - Motion Picture and Video Production

UK SIC 2003:    9211 - Motion picture and video production

US SIC 1987:    7812 - Motion Picture and Video Tape Production

 

           

Key Executives   

 

Name

Title

Yoshishige Shimatani

President, Chief Director of Image, Representative Director

Nobuyuki Tako

Director of Business Planning, Director

Hideyuki Takai

President

Norio Akai

Co-Auditor

Koji Ochi

Managing Director

 

 

Significant Developments  

 

 

Topic

#*

Most Recent Headline

Date

Divestitures

1

Toho CO., LTD. to Sell Shares of SEIO PRINTING CO., LTD.

25-Nov-2011

General Reorganization

2

Toho CO., LTD. Announces Dissolution of Subsidiary

24-May-2012

Equity Investments

1

Avex Group Holdings Inc. and Other Four Companies to Invest in Japan-based Company

30-Aug-2011

Positive Earnings Pre-Announcement

2

Toho CO., LTD. Raises Consolidated Full-year Forecast for FY 2012

11-Oct-2011

Debt Ratings

1

R&I Affirms Toho CO., LTD.'s Rating at "AA-"; Rating Outlook Stable

15-Dec-2011

* number of significant developments within the last 12 months                                                                     

 

News   

 

 

Title

Date

Toho Surges On Increase In March-May Earnings
Nikkei English News (63 Words)

12-Jul-2012

Toho's Operating Profit Likely Soared 40% In March-May
Nikkei English News (235 Words)

6-Jul-2012

Toho 1Q Grp Net Pft Y337.00M Vs Y373.00M Pft Yr Earlier
Nikkei English News (80 Words)

4-Jun-2012

Toho Expects This FY Group Net Profit Y1.40B
Nikkei English News (60 Words)

4-Jun-2012

2012 Report on the $60 Billion US Motion Picture Production & Distribution Industry Featuring Disney, FOX, MGM, Warner Bros and Universal
Investment Weekly News (280 Words)

16-May-2012

 

 

Financial Summary    

 

As of 29-Feb-2012

Key Ratios

Company

Industry

Current Ratio (MRQ)

2.61

3.59

Quick Ratio (MRQ)

2.48

3.10

Debt to Equity (MRQ)

0.05

0.70

Sales 5 Year Growth

-2.04

24.08

Net Profit Margin (TTM) %

5.64

16.66

Return on Assets (TTM) %

3.15

7.10

Return on Equity (TTM) %

4.58

12.66

 

 

Stock Snapshot    

 

 

Traded: Tokyo Stock Exchange: 9602

 

As of 29-Jun-2012

   Financials in: JPY

Recent Price

1,375.00

 

EPS

72.36

52 Week High

1,540.00

 

Price/Sales

1.43

52 Week Low

1,217.00

 

Dividend Rate

10.00

Avg. Volume (mil)

0.33

 

Price/Earnings

27.09

Market Value (mil)

259,862.10

 

Price/Book

1.18

 

 

 

Beta

0.54

 

Price % Change

Rel S&P 500%

4 Week

10.53%

1.75%

13 Week

-9.48%

0.42%

52 Week

3.15%

13.75%

Year to Date

0.22%

-5.18%

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.90038

2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 80.43546

 

 

Corporate Overview

 

Location

1-2-2, Yuraku-cho, Chiyoda-ku

Tokyo, 100-8415

Japan

Tel:       81-3-35911214

Fax:      81 (3) 3580-8900

           

Quote Symbol - Exchange

9602 - Tokyo Stock Exchange

Sales JPY(mil):              181,360.0

Assets JPY(mil):            320,987.0

Employees:                   3,171

Fiscal Year End:            29-Feb-2012

Industry:                        Motion Pictures

Incorporation Date:         12-Aug-1932

Company Type:             Public Parent

Quoted Status:              Quoted

 

President, Chief Director of Image,

Representative Director:  Yoshishige Shimatani

 

Company Web Links

Home Page

 

Contents

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Subsidiaries

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

5511     -          Motion Picture and Video Production

860       -          Residential Care Services

9001     -          Performing Arts Operation

451       -          Cafes, Restaurants and Takeaway Food Services

6712     -          Non-Residential Property Operators

6999     -          Other Professional, Scientific and Technical Services Not Elsewhere Classified

5512     -          Motion Picture and Video Distribution

 

NACE 2002 Codes:

7487     -          Other business activities not elsewhere classified

9231     -          Artistic and literary creation and interpretation

5530     -          Restaurants

7020     -          Letting of own property

9211     -          Motion picture and video production

9212     -          Motion picture and video distribution

8531     -          Social work activities with accommodation

 

NAICS 2002 Codes:

561990  -          All Other Support Services

512120  -          Motion Picture and Video Distribution

51211   -          Motion Picture and Video Production

531120  -          Lessors of Nonresidential Buildings (except Miniwarehouses)

711310  -          Promoters of Performing Arts, Sports, and Similar Events with Facilities

722211  -          Limited-Service Restaurants

623990  -          Other Residential Care Facilities

 

US SIC 1987:

7922     -          Theatrical Producers (Except Motion Picture) and Miscellaneous Theatrical Services

6512     -          Operators of Nonresidential Buildings

7812     -          Motion Picture and Video Tape Production

7389     -          Business Services, Not Elsewhere Classified

7822     -          Motion Picture and Video Tape Distribution

5812     -          Eating Places

8361     -          Residential Care

 

UK SIC 2003:

9211     -          Motion picture and video production

5530     -          Restaurants

7487     -          Other business activities not elsewhere classified

70209   -          Other letting of own property

8531     -          Social work activities with accommodation

92311   -          Live theatrical presentation

9212     -          Motion picture and video distribution

 

Business Description

TOHO CO., LTD. is mainly engaged in movie, theater and real estate businesses. The Company operates in four business segments. The Movie segment is engaged in the production, distribution and showing of movies, as well as the production and sale of visual software. The Theater segment is engaged in the production and showing of theaters. The Real Estate segment is engaged in the leasing, maintenance and management of real estate, as well as the management, cleaning and repair of roads. The Others segment is engaged in other business activities, including the operation of entertainment facilities, shops and restaurants, the provision of accounting consulting and guidance services, as well as the operation and management of fee-charging nursing homes and group homes. On February 29, 2012, the Company dissolved its Tokyo-based wholly owned subsidiary. For the nine months ended 30 November 2011, Toho CO., LTD.'s revenues decreased 11% to Y136.07B. The Company's net income decreased 44% to Y5.54B. Revenues reflect lower sales from movies, theaters and real estate business segments. Lower net income also suffered from higher percentage of cost of sales and selling, general & administrative expenses, as well as the presence of loss on change of accounting.

 

More Business Descriptions

 

Production and distribution of cinematic films and television programmes

 

Motion Picture Producer & Distr; Movie Theatres Owner & Operator; Holding Company of Various Retail Establishments

 

Motion Picture and Video Production

 

Financial Data

Financials in:

JPY(mil)

 

Revenue:

181,360.0

Net Income:

9,862.0

Assets:

320,987.0

Long Term Debt:

10,408.0

 

Total Liabilities:

105,677.0

 

Working Capital:

36.3

 

 

 

Date of Financial Data:

29-Feb-2012

 

1 Year Growth

-8.8%

-13.6%

-2.5%

Market Data

Quote Symbol:

9602

Exchange:

Tokyo Stock Exchange

Currency:

JPY

Stock Price:

1,375.0

Stock Price Date:

06-29-2012

52 Week Price Change %:

3.2

Market Value (mil):

259,862,096.0

 

SEDOL:

6895200

ISIN:

JP3598600009

 

Equity and Dept Distribution:

FY '94-'02 WAS are estimated. 08/1997, 1.1-for1 stock split. 2/2002, 10-for-1 stock split. FY'05-'08 1&3Q& 09 Q3's WAS & O/S were estimated. FY'09 Q1 WAS=O/S.

 

Subsidiaries

Company

Percentage Owned

Country

Toho Real Estate Co Ltd

58.8%

JAPAN

 

 

 

 

Shareholders

 

 

Major Shareholders

Hankyu Hanshin Holdings (12%); Hankyu Realty (8%); H20 Retailing (7.2%)

 

 

 

Key Corporate Relationships

Auditor:

Deloitte & Touche LLP

 

Auditor:

Deloitte & Touche LLP

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

TOHO CO., LTD.

TOHO CO., LTD. 
Total Corporate Family Members: 12 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

TOHO CO., LTD.

Parent

Tokyo

Japan

Motion Pictures

2,298.6

3,171

Toho Power Larks

Subsidiary

Tokyo

Japan

Retail (Specialty)

5.3

27

Koma Stadium Co., Ltd.

Subsidiary

Tokyo

Japan

Motion Pictures

54.6

25

International Television Films Inc.

Subsidiary

Tokyo

Japan

Motion Pictures

28.2

25

Khk Art, K.K.

Subsidiary

Setagaya-Ku, Tokyo

Japan

Miscellaneous Fabricated Products

6.3

8

Toho Cinemas Ltd.

Subsidiary

Chiyoda-Ku, Tokyo

Japan

Motion Pictures

717.0

 

Toho Building Kanri K.K.

Subsidiary

Osaka, Osaka

Japan

Real Estate Operations

93.9

 

Toho Ad Co.,Ltd.

Subsidiary

Chiyoda-Ku, Tokyo

Japan

Advertising

87.8

 

Toho Eizo Bijutsu Co.,Ltd.

Subsidiary

Setagaya-Ku, Tokyo

Japan

Business Services

60.7

 

Toho Stagecraft Co.,Ltd.

Subsidiary

Saitama, Saitama

Japan

Miscellaneous Fabricated Products

46.9

 

Tokyo Laboratory Co.,Ltd.

Subsidiary

Chofu, Tokyo

Japan

Photography

43.7

 

Toho-Towa Co., Ltd.

Subsidiary

Tokyo

Japan

Motion Pictures

1.0

 

 

 

Competitors Report

 

Company Name

Location

Employees

Ownership

AMC Entertainment Inc

Kansas City, Missouri, United States

850

Private

FUJI MEDIA HOLDINGS, INC.

Tokyo, Japan

5,883

Public

Nippon Television Network Corporation

Tokyo, Japan

3,262

Public

Shochiku Co., Ltd.

Tokyo, Japan

1,227

Public

TOEI COMPANY, LTD.

Tokyo, Japan

1,000

Public

 

 

Executive report

 

 

Board of Directors

 

Name

Title

Function

 

Isao Matsuoka

 

Chairman

Chairman

 

Satoshi Chida

 

Vice President, Representative Director

Director/Board Member

 

Biography:

Mr. Satoshi Chida has been serving as Vice President and Representative Director in TOHO CO., LTD. since May 26, 2011. He joined the Company in April 1974. His previous titles include Senior Managing Director, Managing Director and Director of Film Sales. He obtained his bachelor's degree in Law from Keio University in March 1974.

 

Age: 62

 

Education:

Keio University, B (Law)

 

Minami Ichikawa

 

Director of Film Adjustment in Main Image Unit, Director

Director/Board Member

 

 

Biography:

Mr. Minami Ichikawa has been serving as Director of Film Adjustment in Main Image Unit and Director in TOHO CO., LTD. since May 2011. He joined the Company in April 1979.

 

Age: 45

 

Yasushi Ishizuka

 

Director

Director/Board Member

 

 

Biography:

Mr. Yasushi Ishizuka has been serving as Director in TOHO CO., LTD., since April 2011. He joined the Company in April 1978, and served as Director of Human Resources, Director of Labor and Director of Human Resources & Labor.

 

Age: 56

 

Kohei Kobayashi

 

Director

Director/Board Member

 

 

Noriyoshi Masuda

 

Senior Managing Director

Director/Board Member

 

 

Biography:

Mr. Noriyoshi Masuda has been serving as Senior Managing Director in TOHO CO., LTD. since May 2006. He joined the Company in April 1971. His previous titles include Director of Theater and Managing Director.

 

Age: 65

 

Chikara Murakami

 

Director

Director/Board Member

 

 

Takashi Nakagawa

 

Senior Managing Director

Director/Board Member

 

 

Biography:

Mr. Takashi Nakagawa has been serving as Senior Managing Director in TOHO CO., LTD. since May 2006. He joined the Company in April 1975. Mr. Nakagawa's previous titles include Director of Advertisement in Image Main Unit and Managing Director.

 

Age: 62

 

Hiroshi Ohkuma

 

Director

Director/Board Member

 

 

Kazuhiko Seta

 

President of Subsidiary, Director

Director/Board Member

 

 

Biography:

Mr. Kazuhiko Seta has been serving as Director in TOHO CO., LTD., as well as President and Representative Director in a subsidiary, since May 2012. He joined the Company in April 1984. He used to serve as President and Representative Director in another subsidiary.

 

Age: 52

 

Yoshishige Shimatani

 

President, Chief Director of Image, Representative Director

Director/Board Member

 

 

Biography:

Mr. Yoshishige Shimatani has been serving as President, Chief Director of Image and Representative Director in TOHO CO., LTD. since May 26, 2011. He joined the Company in April 1975. He previously served as Senior Managing Director, Managing Director and Director of Film Adjustment in the Company. He obtained his bachelor's degree in Literature from Kyoto University in March 1975.

 

Age: 60

 

Education:

Kyoto University, B (Literature)

 

Junichi Shinsaka

 

Executive Director

Director/Board Member

 

 

Biography:

Mr. Junichi Shinsaka has been serving as Executive Director in TOHO CO., LTD. since May 2009. He is also in charge of Image Business and Promotion in Main Image Unit. He joined the Company in April 1975. He used to serve as Director of Video Business and Director of Legal Affairs. He previously worked in Motion Picture Producers Association of Japan, Inc.

 

Age: 59

 

Kazuo Sumi

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Sumi Kazuo has been serving as Independent Director in TOHO CO., LTD. since May 2009. He is now serving as President and Representative Director in Hankyu Hanshin Holdings, Inc. and a wholly owned subsidiary of Hankyu Hanshin Holdings, Inc.

 

Age: 63

 

Masaharu Takahashi

 

Senior Managing Director

Director/Board Member

 

 

Biography:

Mr. Masaharu Takahashi has been serving as Senior Managing Director in TOHO CO., LTD. since May 2007. He joined the Company in April 1974. His previous titles include Manager of Related Business Contact Office, Managing Director and Director.

 

Age: 60

 

Education:

Tokyo University of Education

 

Nobuyuki Tako

 

Director of Business Planning, Director

Director/Board Member

 

 

Biography:

Mr. Nobuyuki Tako has been serving as Director of Business Planning and Director in TOHO CO., LTD., since May 2008. He joined the Company in April 1988.

 

Age: 46

 

Toshiyuki Urai

 

Managing Director

Director/Board Member

 

 

Biography:

Mr. Toshiyuki Urai has been serving as Managing Director in TOHO CO., LTD. since May 2009. He is also an auditor in its associated company, TOKYO RAKUTENCHI co.,ltd. He joined the Company in April 1980. His previous titles include Director of Finance and Director in the Company.

 

Age: 54

 

Makoto Yamashita

 

Director

Director/Board Member

 

 

Biography:

Mr. Makoto Yamashita has been serving as Director in TOHO CO., LTD. since April 2012. He joined the Company in April 1979 and used to serve as Director of Real Estate Business.

 

Age: 56

 

 

Executives

 

Name

Title

Function

 

Yoshishige Shimatani

 

President, Chief Director of Image, Representative Director

President

 

Biography:

Mr. Yoshishige Shimatani has been serving as President, Chief Director of Image and Representative Director in TOHO CO., LTD. since May 26, 2011. He joined the Company in April 1975. He previously served as Senior Managing Director, Managing Director and Director of Film Adjustment in the Company. He obtained his bachelor's degree in Literature from Kyoto University in March 1975.

 

Age: 60

 

Education:

Kyoto University, B (Literature)

 

Hideyuki Takai

 

President

President

 

 

Masamichi Fujiwara

 

Director-Pictures

Division Head Executive

 

 

Kazuhiko Seta

 

President of Subsidiary, Director

Division Head Executive

 

 

Biography:

Mr. Kazuhiko Seta has been serving as Director in TOHO CO., LTD., as well as President and Representative Director in a subsidiary, since May 2012. He joined the Company in April 1984. He used to serve as President and Representative Director in another subsidiary.

 

Age: 52

 

Noriyoshi Masuda

 

Senior Managing Director

Managing Director

 

 

Biography:

Mr. Noriyoshi Masuda has been serving as Senior Managing Director in TOHO CO., LTD. since May 2006. He joined the Company in April 1971. His previous titles include Director of Theater and Managing Director.

 

Age: 65

 

Takashi Nakagawa

 

Senior Managing Director

Managing Director

 

 

Biography:

Mr. Takashi Nakagawa has been serving as Senior Managing Director in TOHO CO., LTD. since May 2006. He joined the Company in April 1975. Mr. Nakagawa's previous titles include Director of Advertisement in Image Main Unit and Managing Director.

 

Age: 62

 

Koji Ochi

 

Managing Director

Managing Director

 

 

Masaharu Takahashi

 

Senior Managing Director

Managing Director

 

 

Biography:

Mr. Masaharu Takahashi has been serving as Senior Managing Director in TOHO CO., LTD. since May 2007. He joined the Company in April 1974. His previous titles include Manager of Related Business Contact Office, Managing Director and Director.

 

Age: 60

 

Education:

Tokyo University of Education

 

Toshiyuki Urai

 

Managing Director

Managing Director

 

 

Biography:

Mr. Toshiyuki Urai has been serving as Managing Director in TOHO CO., LTD. since May 2009. He is also an auditor in its associated company, TOKYO RAKUTENCHI co.,ltd. He joined the Company in April 1980. His previous titles include Director of Finance and Director in the Company.

 

Age: 54

 

Keizo Yamada

 

Senior Managing Director-Real Estate

Managing Director

 

 

Norio Akai

 

Co-Auditor

Finance Executive

 

 

Hideaki Mitsuya

 

Co-Auditor

Finance Executive

 

 

Tarou Ohashi

 

Co-Auditor

Finance Executive

 

 

Shotaro Onishi

 

Co-Auditor

Finance Executive

 

 

Tatsuya Shimada

 

Director-Human Resources

Human Resources Executive

 

 

Nobuyuki Tako

 

Director of Business Planning, Director

Planning Executive

 

 

Biography:

Mr. Nobuyuki Tako has been serving as Director of Business Planning and Director in TOHO CO., LTD., since May 2008. He joined the Company in April 1988.

 

Age: 46

 

 

Significant Developments

 

Toho CO., LTD. Announces Dissolution of Subsidiary May 24, 2012

 

Toho CO., LTD. announced that it has decided to dissolve a wholly owned subsidiary, engaged in operation of bakery shop and sales of food, based in Tokyo, effective June 30, 2012.

 

Toho CO., LTD. Announces Dissolution of Subsidiary Feb 28, 2012

 

Toho CO., LTD. announced that it has decided to dissolve a wholly owned subsidiary, which is engaged in movie promotion, effective February 29, 2012.

 

R&I Affirms Toho CO., LTD.'s Rating at "AA-"; Rating Outlook Stable Dec 15, 2011

 

Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on Toho CO., LTD. at "AA-". The rating outlook is stable.

 

Toho CO., LTD. to Sell Shares of SEIO PRINTING CO., LTD. Nov 25, 2011

 

Toho CO., LTD. announced that it has decided to sell 55,600 shares of SEIO PRINTING CO., LTD., which engages in the printing and real estate leasing business, to TOKYO Lithmatic Corporation, effective February 3, 2012. After that, Toho will hold no stake in SEIO PRINTING, down from 49.64%.

 

Toho CO., LTD. Raises Consolidated Full-year Forecast for FY 2012 Oct 11, 2011

 

Toho CO., LTD. announced that it has raised the consolidated full-year forecast for revenue from JPY 179,400 million to JPY 183,000 million, operating profit from JPY 12,000 million to JPY 16,000 million, ordinary profit from JPY 12,800 million to JPY 17,000 million, net profit from JPY 7,400 million to JPY 10,000 million and earning per share from JPY 39.70 to JPY 53.72 for the fiscal year ending February 29, 2012. The Company raised the consolidated full-year forecast due to good performance of movie business.

 

Toho CO., LTD. Amends Consolidated Mid-year Forecast for FY 2012; Announces Payment of Mid-year Dividend for FY 2012 Sep 27, 2011

 

Toho CO., LTD. announced that it has raised the consolidated mid-year forecast for revenue from JPY 89,600 million to JPY 94,200 million, operating profit from JPY 5,500 million to JPY 9,700 million, ordinary profit from JPY 6,000 million to JPY 10,200 million, but lowered the forecast for net profit from JPY 4,100 million to JPY 3,700 million and earning per share from JPY 22.00 to JPY 19.87 for the fiscal year ending February 29, 2012. The Company raised the consolidated mid-year outlook for revenue, operating profit and ordinary profit due to recovery of movie business, but lowered the forecast for net profit due to record of extraordinary loss. The Company has decided to pay a mid-year dividend of JPY 5.00 per share, in line with the last forecast, to all shareholders of record as of August 31, 2011, for the fiscal year ending February 29, 2012. The payment will be conducted on November 4, 2011.

 

Avex Group Holdings Inc. and Other Four Companies to Invest in Japan-based Company Aug 30, 2011

 

Avex Group Holdings Inc. announced that it has decided to acquire a total of 1,960 shares of a Japan-based company, which is engaged in planning, production, delivery and promotion of concert and other entertainment events, with four other companies, including Dentsu Inc., TOEI COMPANY, LTD. and Toho CO., LTD., for JPY 50,000 per share, or JPY 441,000,000 in total, on August 31, 2011. Each other five companies will acquire 392 shares (4.0% stake) of the Japan-based company. The Japan-based company's existing shareholder, Amuse Inc., will hold 3,724 shares (38.0% stake), down from 47.5%. FamilyMart Co., Ltd. will hold 3,332 shares (34.0% stake) of the Japan-based company, down from 42.5%.

 

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

86.457213

93.524123

100.786079

115.64846

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Net Sales

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

Revenue

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

Total Revenue

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

 

 

 

 

 

 

    Cost of Revenue

1,410.7

1,420.5

1,312.7

1,302.6

1,118.7

Cost of Revenue, Total

1,410.7

1,420.5

1,312.7

1,302.6

1,118.7

Gross Profit

887.9

880.7

844.0

815.7

654.3

 

 

 

 

 

 

    Selling/General/Administrative Expense

282.3

272.9

262.2

224.9

198.7

    Labor & Related Expense

242.8

227.1

219.5

204.5

178.0

    Advertising Expense

99.4

84.8

124.9

142.2

84.5

Total Selling/General/Administrative Expenses

624.4

584.8

606.6

571.6

461.2

    Depreciation

50.2

38.4

33.6

31.9

20.4

    Amortization of Acquisition Costs

-

-

0.0

-3.9

0.0

Depreciation/Amortization

50.2

38.4

33.6

28.0

20.4

    Impairment-Assets Held for Use

6.4

8.6

31.6

11.9

21.1

    Impairment-Assets Held for Sale

2.4

0.2

3.3

131.5

27.7

    Other Unusual Expense (Income)

56.3

24.1

53.4

0.6

12.6

Unusual Expense (Income)

65.1

32.9

88.3

144.0

61.4

Total Operating Expense

2,150.4

2,076.7

2,041.3

2,046.2

1,661.7

 

 

 

 

 

 

Operating Income

148.1

224.5

115.4

72.0

111.3

 

 

 

 

 

 

        Interest Expense - Non-Operating

-2.1

-2.1

-1.9

-2.2

-2.2

    Interest Expense, Net Non-Operating

-2.1

-2.1

-1.9

-2.2

-2.2

        Interest Income - Non-Operating

0.9

1.0

1.0

1.8

2.3

        Investment Income - Non-Operating

35.2

13.0

11.4

30.7

49.4

    Interest/Investment Income - Non-Operating

36.2

14.0

12.4

32.6

51.7

Interest Income (Expense) - Net Non-Operating Total

34.0

11.8

10.5

30.3

49.5

Gain (Loss) on Sale of Assets

-0.1

0.2

0.6

-0.1

1.4

    Other Non-Operating Income (Expense)

3.1

0.6

0.8

-1.4

1.9

Other, Net

3.1

0.6

0.8

-1.4

1.9

Income Before Tax

185.2

237.2

127.3

100.8

164.1

 

 

 

 

 

 

Total Income Tax

55.6

96.4

33.6

69.2

91.7

Income After Tax

129.6

140.8

93.7

31.6

72.4

 

 

 

 

 

 

    Minority Interest

-4.6

-8.9

-9.4

-8.7

-9.3

Net Income Before Extraord Items

125.0

131.9

84.3

22.9

63.1

Net Income

125.0

131.9

84.3

22.9

63.1

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-0.1

-0.1

-0.1

-0.1

-0.1

Total Adjustments to Net Income

-0.1

-0.1

-0.1

-0.1

-0.1

Income Available to Common Excl Extraord Items

124.9

131.8

84.2

22.8

63.0

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

124.9

131.8

84.2

22.8

63.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

185.9

186.6

187.6

188.4

188.6

Basic EPS Excl Extraord Items

0.67

0.71

0.45

0.12

0.33

Basic/Primary EPS Incl Extraord Items

0.67

0.71

0.45

0.12

0.33

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

124.9

131.8

84.2

22.8

63.0

Diluted Weighted Average Shares

185.9

186.6

187.6

188.4

188.6

Diluted EPS Excl Extraord Items

0.67

0.71

0.45

0.12

0.33

Diluted EPS Incl Extraord Items

0.67

0.71

0.45

0.12

0.33

Dividends per Share - Common Stock Primary Issue

0.13

0.12

0.21

0.20

0.22

Gross Dividends - Common Stock

47.1

43.2

40.1

37.4

40.8

Interest Expense, Supplemental

2.1

2.1

1.9

2.2

2.2

Depreciation, Supplemental

132.4

109.1

97.3

100.2

71.8

Total Special Items

65.2

32.7

87.7

140.3

60.0

Normalized Income Before Tax

250.4

269.9

215.0

241.1

224.1

 

 

 

 

 

 

Effect of Special Items on Income Taxes

19.6

13.3

23.2

50.5

33.5

Inc Tax Ex Impact of Sp Items

75.2

109.7

56.7

119.7

125.3

Normalized Income After Tax

175.2

160.2

158.2

121.4

98.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

170.5

151.3

148.8

112.6

89.5

 

 

 

 

 

 

Basic Normalized EPS

0.92

0.81

0.79

0.60

0.47

Diluted Normalized EPS

0.92

0.81

0.79

0.60

0.47

Amort of Acquisition Costs, Supplemental

-

-

0.0

-3.9

0.0

Rental Expenses

92.3

91.6

83.4

74.0

57.7

Advertising Expense, Supplemental

99.4

84.8

124.9

142.2

84.5

Reported Operating Profit

213.2

259.1

204.9

230.8

172.6

Reported Ordinary Profit

220.2

268.1

215.7

255.7

187.6

Normalized EBIT

213.3

257.4

203.7

216.1

172.6

Normalized EBITDA

345.7

366.5

301.0

312.4

244.4

Interest Cost - Domestic

1.6

1.5

1.5

1.4

1.3

Service Cost - Domestic

6.9

6.0

7.7

8.3

7.3

Prior Service Cost - Domestic

-

-

-1.7

-

0.0

Expected Return on Assets - Domestic

-0.8

-0.5

-0.4

-0.4

-0.4

Actuarial Gains and Losses - Domestic

1.7

1.6

1.6

1.3

1.0

Other Pension, Net - Domestic

1.1

0.4

0.8

3.5

0.8

Domestic Pension Plan Expense

10.6

9.0

9.5

14.1

10.0

Total Pension Expense

10.6

9.0

9.5

14.1

10.0

Discount Rate - Domestic

2.00%

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

1.25%

1.25%

1.25%

1.25%

1.25%

Total Plan Interest Cost

1.6

1.5

1.5

1.4

1.3

Total Plan Service Cost

6.9

6.0

7.7

8.3

7.3

Total Plan Expected Return

-0.8

-0.5

-0.4

-0.4

-0.4

Total Plan Other Expense

1.1

0.4

0.8

3.5

0.8

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

80.435452

81.93

88.865

97.845

104.105

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

132.7

115.6

133.0

102.8

140.8

    Short Term Investments

222.6

178.5

148.2

25.0

132.7

Cash and Short Term Investments

355.4

294.1

281.2

127.7

273.5

        Accounts Receivable - Trade, Gross

170.0

179.9

161.4

178.4

181.6

        Provision for Doubtful Accounts

-2.6

-2.7

-1.2

-1.5

-1.2

    Trade Accounts Receivable - Net

167.4

177.2

160.1

176.9

180.4

    Other Receivables

316.9

305.1

174.4

76.6

40.3

Total Receivables, Net

484.4

482.4

334.5

253.5

220.8

    Inventories - Finished Goods

18.9

21.3

25.1

-

-

    Inventories - Work In Progress

24.7

31.3

41.6

-

-

    Inventories - Raw Materials

6.3

5.8

5.4

-

-

Total Inventory

49.8

58.4

72.1

80.5

88.3

    Deferred Income Tax - Current Asset

32.5

42.9

34.0

21.0

19.6

    Other Current Assets

90.6

80.8

102.2

65.6

63.3

Other Current Assets, Total

123.1

123.7

136.2

86.6

82.8

Total Current Assets

1,012.6

958.6

824.0

548.3

665.4

 

 

 

 

 

 

Property/Plant/Equipment - Net

1,964.1

1,934.9

1,748.7

1,681.5

1,397.9

Goodwill, Net

64.5

69.0

68.9

67.4

67.9

Intangibles, Net

32.9

32.4

30.9

23.5

22.1

    LT Investment - Affiliate Companies

119.7

116.6

107.5

-

-

    LT Investments - Other

510.0

634.2

533.3

548.5

754.8

Long Term Investments

629.7

750.7

640.8

548.5

754.8

Note Receivable - Long Term

10.1

11.6

13.4

15.0

14.8

    Deferred Income Tax - Long Term Asset

27.4

12.3

13.9

13.5

15.0

    Other Long Term Assets

249.4

248.4

237.0

257.4

252.7

Other Long Term Assets, Total

276.7

260.7

250.9

270.9

267.7

Total Assets

3,990.6

4,018.0

3,577.6

3,155.2

3,190.6

 

 

 

 

 

 

Accounts Payable

143.8

145.1

142.1

107.8

120.4

Accrued Expenses

64.0

70.0

72.7

109.0

86.6

Notes Payable/Short Term Debt

1.7

1.4

1.1

1.0

41.0

Current Portion - Long Term Debt/Capital Leases

9.7

10.2

5.8

8.1

105.5

    Income Taxes Payable

17.8

79.6

27.6

24.4

42.4

    Other Payables

39.3

61.9

66.0

55.6

28.6

    Other Current Liabilities

112.1

147.6

133.6

79.2

83.4

Other Current liabilities, Total

169.2

289.2

227.3

159.2

154.4

Total Current Liabilities

388.3

515.9

449.0

385.1

507.9

 

 

 

 

 

 

    Long Term Debt

125.3

129.5

125.9

112.0

104.8

    Capital Lease Obligations

4.1

6.7

8.2

0.0

-

Total Long Term Debt

129.4

136.2

134.1

112.0

104.8

Total Debt

140.7

147.8

141.1

121.1

251.4

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

102.0

134.5

113.0

86.2

65.3

Deferred Income Tax

102.0

134.5

113.0

86.2

65.3

Minority Interest

264.8

256.5

243.2

219.0

207.4

    Reserves

88.8

9.5

2.1

0.5

0.8

    Pension Benefits - Underfunded

41.2

42.0

48.9

56.7

54.1

    Other Long Term Liabilities

299.4

303.7

287.1

268.2

251.3

Other Liabilities, Total

429.4

355.1

338.1

325.4

306.2

Total Liabilities

1,313.8

1,398.3

1,277.5

1,127.7

1,191.6

 

 

 

 

 

 

    Common Stock

128.7

126.4

116.5

105.8

99.5

Common Stock

128.7

126.4

116.5

105.8

99.5

Additional Paid-In Capital

172.0

168.9

155.7

142.1

133.6

Retained Earnings (Accumulated Deficit)

2,352.4

2,234.8

1,974.2

1,751.1

1,669.1

Treasury Stock - Common

-64.7

-44.9

-37.9

-15.4

-4.2

Unrealized Gain (Loss)

88.4

134.5

91.6

43.8

101.1

    Translation Adjustment

0.0

0.0

-

-

-

Other Equity, Total

0.0

0.0

-

-

-

Total Equity

2,676.8

2,619.7

2,300.2

2,027.5

1,999.0

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

3,990.6

4,018.0

3,577.6

3,155.2

3,190.6

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

185.4

186.5

186.8

188.0

188.6

Total Common Shares Outstanding

185.4

186.5

186.8

188.0

188.6

Treasury Shares - Common Stock Primary Issue

3.6

2.4

2.2

1.0

0.3

Employees

3,171

3,367

3,553

3,598

3,729

Number of Common Shareholders

27,192

29,137

25,827

23,025

19,594

Total Long Term Debt, Supplemental

160.8

161.7

16.9

120.1

210.4

Long Term Debt Maturing within 1 Year

10.5

7.5

3.5

8.1

105.5

Long Term Debt Maturing in Year 2

125.2

31.0

7.2

3.3

6.8

Long Term Debt Maturing in Year 3

0.3

122.9

6.2

6.5

2.0

Long Term Debt Maturing in Year 4

24.7

0.1

0.0

0.0

-

Long Term Debt Maturing in Year 5

0.0

0.1

0.0

102.2

-

Long Term Debt Maturing in 2-3 Years

125.5

153.9

13.4

9.8

8.8

Long Term Debt Maturing in 4-5 Years

24.7

0.2

0.0

102.2

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

0.0

0.0

96.1

Total Capital Leases, Supplemental

7.0

9.4

10.6

-

-

Capital Lease Payments Due in Year 1

2.8

2.7

2.4

-

-

Capital Lease Payments Due in Year 2

2.9

2.7

2.4

-

-

Capital Lease Payments Due in Year 3

1.2

2.8

2.4

-

-

Capital Lease Payments Due in Year 4

0.1

1.1

2.5

-

-

Capital Lease Payments Due in Year 5

0.0

0.1

0.9

-

-

Capital Lease Payments Due in 2-3 Years

4.0

5.5

4.8

-

-

Capital Lease Payments Due in 4-5 Years

0.1

1.2

3.4

-

-

Cap. Lease Pymts. Due in Year 6 & Beyond

0.0

0.0

0.0

-

-

Pension Obligation - Domestic

118.8

123.1

119.7

115.8

115.4

Plan Assets - Domestic

84.1

77.4

65.4

52.0

58.2

Funded Status - Domestic

-34.7

-45.7

-54.3

-63.8

-57.1

Total Funded Status

-34.7

-45.7

-54.3

-63.8

-57.1

Discount Rate - Domestic

2.00%

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

1.25%

1.25%

1.25%

1.25%

1.25%

Prepaid Benefits - Domestic

8.6

0.7

0.4

0.3

1.2

Accrued Liabilities - Domestic

-37.3

-37.4

-44.5

-51.9

-48.4

Other Assets, Net - Domestic

6.1

8.9

10.3

12.2

10.0

Net Assets Recognized on Balance Sheet

-22.6

-27.8

-33.8

-39.4

-37.2

Total Plan Obligations

118.8

123.1

119.7

115.8

115.4

Total Plan Assets

84.1

77.4

65.4

52.0

58.2

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

86.457213

93.524123

100.786079

115.64846

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

185.1

237.1

127.2

100.7

164.0

    Depreciation

132.4

109.1

97.3

100.2

71.8

Depreciation/Depletion

132.4

109.1

97.3

100.2

71.8

    Unusual Items

20.5

3.8

27.4

130.8

7.1

    Equity in Net Earnings (Loss)

3.3

-2.0

-2.3

-11.4

0.0

    Other Non-Cash Items

-22.7

-4.1

17.2

-11.3

-20.6

Non-Cash Items

1.1

-2.3

42.3

108.1

-13.5

    Accounts Receivable

13.5

-4.6

33.5

18.1

-20.4

    Inventories

9.9

18.7

15.7

13.1

17.5

    Other Assets

2.4

3.1

23.4

-0.3

-4.1

    Accounts Payable

-4.1

-8.6

22.3

-20.7

17.6

    Taxes Payable

-3.9

-4.1

-0.1

1.4

2.4

    Other Liabilities

-15.7

-6.4

-5.4

2.8

-16.3

    Other Operating Cash Flow

-142.5

-16.5

-74.7

-51.9

-116.2

Changes in Working Capital

-140.4

-18.4

14.6

-37.5

-119.5

Cash from Operating Activities

178.2

325.5

281.4

271.5

102.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-137.3

-160.1

-117.6

-148.4

-177.2

Capital Expenditures

-137.3

-160.1

-117.6

-148.4

-177.2

    Acquisition of Business

-

-

0.0

-60.2

0.0

    Sale of Fixed Assets

1.2

10.0

8.9

0.7

0.8

    Sale/Maturity of Investment

112.6

13.3

29.8

137.3

132.6

    Purchase of Investments

-43.6

-42.6

-14.4

-18.7

-133.2

    Other Investing Cash Flow

-7.9

-3.3

-4.5

0.3

1.5

Other Investing Cash Flow Items, Total

62.2

-22.7

19.8

59.5

1.7

Cash from Investing Activities

-75.1

-182.8

-97.8

-88.9

-175.5

 

 

 

 

 

 

    Other Financing Cash Flow

-4.7

-3.9

-3.8

-4.0

-5.7

Financing Cash Flow Items

-4.7

-3.9

-3.8

-4.0

-5.7

    Cash Dividends Paid - Common

-47.3

-43.3

-40.2

-46.9

-32.6

Total Cash Dividends Paid

-47.3

-43.3

-40.2

-46.9

-32.6

        Sale/Issuance of Common

-

-

-

0.0

0.2

        Repurchase/Retirement of Common

-19.3

-3.5

-23.4

-10.6

-0.6

    Common Stock, Net

-19.3

-3.5

-23.4

-10.6

-0.4

Issuance (Retirement) of Stock, Net

-19.3

-3.5

-23.4

-10.6

-0.4

    Short Term Debt, Net

0.2

0.2

0.1

-46.4

-1.1

        Long Term Debt Issued

0.2

0.0

5.5

9.1

0.5

        Long Term Debt Reduction

-10.6

-5.6

-9.6

-109.7

-15.3

    Long Term Debt, Net

-10.4

-5.6

-4.1

-100.7

-14.7

Issuance (Retirement) of Debt, Net

-10.2

-5.4

-4.0

-147.0

-15.8

Cash from Financing Activities

-81.5

-56.2

-71.4

-208.4

-54.5

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.3

-0.3

-0.2

-0.4

Net Change in Cash

21.5

86.1

111.9

-26.0

-127.6

 

 

 

 

 

 

Net Cash - Beginning Balance

471.7

344.4

206.4

217.4

317.0

Net Cash - Ending Balance

493.2

430.5

318.3

191.4

189.4

Cash Interest Paid

2.1

2.1

1.9

2.3

2.2

Cash Taxes Paid

137.6

27.5

64.3

90.6

100.2

 

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

86.457213

93.524123

100.786079

115.64846

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Net Sales

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

Total Revenue

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

 

 

 

 

 

 

    Cost of Sales

1,410.7

1,420.5

1,312.7

1,287.6

1,118.7

    Labor Cost

224.8

211.7

204.5

187.0

162.2

    Advertising expenses

99.4

84.8

124.9

142.2

84.5

    Provision for bonuses

8.4

7.3

7.5

8.4

5.9

    Periodic Retirement Benefit Costs

9.0

7.6

6.7

8.6

7.7

    Provision for directors'' retirement ben

0.6

0.6

0.8

0.5

2.3

    Depreciation

50.2

36.6

32.4

28.2

20.4

    Rental Expenses

92.3

91.6

83.4

74.0

57.7

    Other Selling & General Expense

190.0

181.3

178.8

150.8

141.0

    SP G on cancel of insurance contract

-1.0

-0.1

-2.0

-2.9

-2.8

    SP Compensation Received

0.0

-0.2

-0.2

-1.8

0.0

    SP G on Negative Goodwill

0.0

-3.8

0.0

-

-

    SP Gain-insurance adjustment

-

-

0.0

0.0

-0.4

    SP Other Special Gains

-2.1

-0.8

-1.3

-2.0

-3.6

    SP Impairment Loss

5.5

3.7

21.7

5.5

11.8

    SP Loss on Retire. of Fixed Assets

0.9

2.8

2.1

1.4

5.5

    SP Fixed Asset Demolition Cost

0.0

2.1

7.8

5.0

3.9

    SP Loss on Val. of LT Inv't. Secs.

2.4

0.2

3.3

131.5

27.7

    SP Bad debts written off

0.3

0.0

0.3

0.0

0.0

    SP Compensation for Eviction

4.5

2.0

11.9

1.5

7.6

    SP Special retirement expenses

3.0

0.6

0.2

2.4

6.1

    SP Nonrecurring depreciation

0.0

1.8

1.2

3.7

0.0

    SP L on fixed assets retire. loss reserv

1.3

5.4

37.1

0.0

-

    SP Res. Compensation on store closure

0.0

7.5

0.0

-

-

    SP L on adj. for changes of accn. asset

38.6

0.0

-

-

-

    SP Loss on PCB reserve

0.0

7.3

1.7

0.0

-

    SP L on val. of inventories

-

-

0.0

15.0

0.0

    SP Loss on disaster

7.2

0.0

-

-

-

    SP Other Special Loss

4.6

6.2

5.8

3.4

5.7

    NOP Amort. of negative goodwill

-

-

0.0

-3.9

0.0

Total Operating Expense

2,150.4

2,076.7

2,041.3

2,046.2

1,661.7

 

 

 

 

 

 

    NOP Interest Income

0.9

1.0

1.0

1.8

2.3

    NOP Dividends Received

9.4

8.2

9.5

12.3

13.0

    NOP Gain on Sale of Mkbl. Secs.

0.0

0.0

0.1

0.0

0.0

    NOP Distribution - Investment Trust Fund

0.0

0.0

0.0

0.1

0.1

    NOP Equity Earning

0.0

2.0

2.3

11.4

0.0

    NOP Rev. of Allowance for Doubtful Acc.

-

-

-

0.0

1.8

    NOP Other non-operating income

3.9

1.7

1.4

1.4

1.8

    NOP Interest Expense

-2.1

-2.1

-1.9

-2.2

-2.2

    NOP L on Sale of Marketable Secs.

0.0

0.0

-0.1

0.0

0.0

    NOP Equity Losses

-3.3

0.0

-

0.0

-0.2

    NOP Allow. Doubtful Acct

0.0

-0.2

0.0

-1.6

0.0

    NOP L on investment union

-0.9

-0.8

-0.8

-1.0

0.0

    NOP Other Non-Operating Expenses

-0.8

-0.8

-0.6

-1.2

-1.7

    SP Gain on Sales of Fixed Assets

0.1

0.2

2.4

0.1

2.3

    SP Gain on Sale of LT Inv't. Secs.

28.8

3.5

0.4

7.8

36.5

    SP G on sales of subsidiaries and affili

1.3

0.0

-

-

-

    SP Loss on Sales of Fixed Assets

-0.2

0.0

-1.8

-0.2

-0.9

Net Income Before Taxes

185.2

237.2

127.3

100.8

164.1

 

 

 

 

 

 

Provision for Income Taxes

55.6

96.4

33.6

69.2

91.7

Net Income After Taxes

129.6

140.8

93.7

31.6

72.4

 

 

 

 

 

 

    Minority Interest

-4.6

-8.9

-9.4

-8.7

-9.3

Net Income Before Extra. Items

125.0

131.9

84.3

22.9

63.1

Net Income

125.0

131.9

84.3

22.9

63.1

 

 

 

 

 

 

    Director Bonus

-

-

0.0

0.0

0.0

    Rounding Adjustment

-0.1

-0.1

-0.1

-0.1

-0.1

Income Available to Com Excl ExtraOrd

124.9

131.8

84.2

22.8

63.0

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

124.9

131.8

84.2

22.8

63.0

 

 

 

 

 

 

Basic Weighted Average Shares

185.9

186.6

187.6

188.4

188.6

Basic EPS Excluding ExtraOrdinary Items

0.67

0.71

0.45

0.12

0.33

Basic EPS Including ExtraOrdinary Item

0.67

0.71

0.45

0.12

0.33

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

124.9

131.8

84.2

22.8

63.0

Diluted Weighted Average Shares

185.9

186.6

187.6

188.4

188.6

Diluted EPS Excluding ExtraOrd Items

0.67

0.71

0.45

0.12

0.33

Diluted EPS Including ExtraOrd Items

0.67

0.71

0.45

0.12

0.33

DPS-Common Stock

0.13

0.12

0.21

0.20

0.22

Gross Dividends - Common Stock

47.1

43.2

40.1

37.4

40.8

Normalized Income Before Taxes

250.4

269.9

215.0

241.1

224.1

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

75.2

109.7

56.7

119.7

125.3

Normalized Income After Taxes

175.2

160.2

158.2

121.4

98.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

170.5

151.3

148.8

112.6

89.5

 

 

 

 

 

 

Basic Normalized EPS

0.92

0.81

0.79

0.60

0.47

Diluted Normalized EPS

0.92

0.81

0.79

0.60

0.47

Advertising expense (SGA)

99.4

84.8

124.9

142.2

84.5

Rental Expense ( SGA)

92.3

91.6

83.4

74.0

57.7

Amort. of negative goodwill

-

-

0.0

-3.9

0.0

Interest Expense

2.1

2.1

1.9

2.2

2.2

Depreciation

132.4

109.1

97.3

100.2

71.8

Reported Operating Profit

213.2

259.1

204.9

230.8

172.6

Reported Ordinary Profit

220.2

268.1

215.7

255.7

187.6

Service Cost

6.9

6.0

7.7

8.3

7.3

Interest Cost

1.6

1.5

1.5

1.4

1.3

Expected Return on Plan Assets

-0.8

-0.5

-0.4

-0.4

-0.4

Actuarial Gains & Losses

1.7

1.6

1.6

1.3

1.0

Prior Service Cost

-

-

-1.7

-

0.0

Temporary Expensese

1.1

0.4

0.8

3.5

0.8

Domestic Pension Plan Expense

10.6

9.0

9.5

14.1

10.0

Total Pension Expense

10.6

9.0

9.5

14.1

10.0

Discount Rate

2.00%

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return

1.25%

1.25%

1.25%

1.25%

1.25%

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

80.435452

81.93

88.865

97.845

104.105

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Deposits

132.7

115.6

133.0

102.8

140.8

    Accounts & Notes Receivable, Gross

170.0

179.9

161.4

178.4

181.6

    Lease inv. assets

145.6

117.6

112.6

0.0

-

    Marketable Sec.

77.0

61.0

35.6

25.0

132.7

    Inventories

-

-

-

80.5

88.3

    Inventories - merchandise&finished goods

18.9

21.3

25.1

-

-

    Inventories - work-in-process

24.7

31.3

41.6

-

-

    Inventories - raw materials&supplies

6.3

5.8

5.4

-

-

    Deferred Income Taxes (Current)

32.5

42.9

34.0

21.0

19.6

    Short Term Loans- Repurchase Agrmt.

316.9

305.1

174.4

76.6

40.3

    Other Current Assets

90.6

80.8

102.2

65.6

63.3

    Allow.Doubt.Accounts (Current)

-2.6

-2.7

-1.2

-1.5

-1.2

Total Current Assets

1,012.6

958.6

824.0

548.3

665.4

 

 

 

 

 

 

    Buildings & Structures, Net

1,171.4

1,126.8

1,030.6

1,051.9

947.7

    Machineries, Equip., & Vehicle, Net

46.2

43.5

39.7

28.5

28.1

    Furniture, & Fixtures, Net

30.2

25.1

21.7

19.6

16.4

    Lease Assets, Net

5.9

8.3

9.4

0.0

-

    Land

692.9

677.4

620.1

556.5

358.0

    Construction-In-Progress

17.4

53.8

27.3

25.0

47.7

    Leasehold Rights

12.8

12.5

11.5

10.6

9.9

    Goodwill

64.5

69.0

68.9

67.4

67.9

    Lease assets, intangible

0.3

0.5

0.5

0.0

-

    Other intangible assets

19.8

19.4

18.9

12.9

12.2

    Long-Term Investment in Securities

510.0

634.2

533.3

548.5

754.8

    Inv. Securities.affiliates

119.7

116.6

107.5

-

-

    Long-Term Loans, Gross

8.7

10.1

10.8

10.9

10.6

    Claims Bankruptcy

1.4

1.5

2.6

4.1

4.2

    Deferred Income Taxes (Non-Current)

27.4

12.3

13.9

13.5

15.0

    Guarantee Deposits

197.6

196.4

184.2

187.9

176.0

    Other Assets

66.4

62.1

64.4

79.2

84.6

    Allow.Doubt.Accounts (Non-Current)

-14.6

-10.1

-11.5

-9.7

-7.8

    Adjustment

0.0

-

-

-

-

Total Assets

3,990.6

4,018.0

3,577.6

3,155.2

3,190.6

 

 

 

 

 

 

    Trade Accounts Payable

143.8

145.1

142.1

107.8

120.4

    Short-Term Borrowings

1.7

1.4

1.1

1.0

41.0

    Current Port of LT Debts

6.8

7.5

3.5

8.1

9.5

    Lease liability, current

2.8

2.7

2.4

0.0

-

    Straight Bonds (Current)

-

-

0.0

0.0

96.1

    Other Accounts Payable

39.3

61.9

66.0

55.6

28.6

    Accrued Expenses

53.6

59.4

62.2

99.9

77.5

    Income Taxes Payable

17.8

79.6

27.6

24.4

42.4

    Reserve for Bonuses

10.4

10.5

10.4

9.1

9.0

    Allowance for director Bonuses

0.0

0.1

0.1

0.1

0.1

    Reserve for Asbestos Problem Cnstrctn.

-

-

0.0

0.3

0.5

    Reserve for fixed assets retire. loss

16.8

43.2

39.6

0.0

-

    Provision for PCB disposal

0.0

0.0

0.3

0.0

-

    Res. Compensation on store closure

0.0

7.9

0.0

-

-

    Asset retirement obligations

10.4

0.0

-

-

-

    Reserve for Construction Losses

0.2

0.2

0.0

-

0.0

    Other Long-Term Liabilities

84.6

96.4

93.7

78.9

82.9

Total Current Liabilities

388.3

515.9

449.0

385.1

507.9

 

 

 

 

 

 

    Straight Bonds

124.3

122.1

112.5

102.2

96.1

    Long-Term Borrowings

0.9

7.4

13.4

9.8

8.8

    Lease obligations

4.1

6.7

8.2

0.0

-

Total Long Term Debt

129.4

136.2

134.1

112.0

104.8

 

 

 

 

 

 

    Deferred Tax Liabilities (Non-Current)

102.0

134.5

113.0

86.2

65.3

    Reserve for Retirement Benefit(accrued)

37.3

37.4

44.5

51.9

48.4

    Reserve for Officers' Retirement

3.9

4.5

4.4

4.8

5.7

    Reserve for Asbestos Problem Cnstrctn.

-

-

-

0.0

0.3

    Provision for loss on compensation for t

8.1

0.0

-

-

-

    Reserve for PCB

9.6

9.5

2.1

0.5

0.5

    Noncurrent Guarantee Deposits Rcvd.

288.0

290.7

270.9

250.2

234.9

    Asset retirement obligations

71.1

0.0

-

-

-

    Other Long-Term Liabilities

11.4

13.0

16.2

18.1

16.4

    Minority Interests

264.8

256.5

243.2

219.0

207.4

Total Liabilities

1,313.8

1,398.3

1,277.5

1,127.7

1,191.6

 

 

 

 

 

 

    Common Stock

128.7

126.4

116.5

105.8

99.5

    Capital Surplus

172.0

168.9

155.7

142.1

133.6

    Retained Earning

2,352.4

2,234.8

1,974.2

1,751.1

1,669.1

    Treasury Stock

-64.7

-44.9

-37.9

-15.4

-4.2

    Reserve by Val. of Investment Sec.

75.9

123.6

81.6

34.7

90.1

    Reserve by Valuation of Land

12.5

10.9

10.0

9.1

11.0

    Foreign currency translation adjustment

0.0

0.0

-

-

-

Total Equity

2,676.8

2,619.7

2,300.2

2,027.5

1,999.0

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

3,990.6

4,018.0

3,577.6

3,155.2

3,190.6

 

 

 

 

 

 

    S/O-Common Stock

185.4

186.5

186.8

188.0

188.6

Total Common Shares Outstanding

185.4

186.5

186.8

188.0

188.6

T/S-Common Stock

3.6

2.4

2.2

1.0

0.3

Full-Time Employees

3,171

3,367

3,553

3,598

3,729

Number of Common Shareholders

27,192

29,137

25,827

23,025

19,594

Debts within 1 year

10.5

7.5

3.5

8.1

105.5

Debt from 1 to 2

125.2

31.0

7.2

3.3

6.8

Debt from 2 to 3

0.3

122.9

6.2

6.5

2.0

Debt from 3 to 4

24.7

0.1

0.0

0.0

-

Debt from 4 to 5

0.0

0.1

0.0

102.2

-

Remaining debts

13.8

-

0.0

0.0

96.1

Total Long Term Debt, Supplemental

160.8

161.7

16.9

120.1

210.4

Capital Lease Payments Due within 1 Year

2.8

2.7

2.4

-

-

Capital Lease Payments Due in Year 2

2.9

2.7

2.4

-

-

Capital Lease Payments Due in Year 3

1.2

2.8

2.4

-

-

Capital Lease Payments Due in Year 4

0.1

1.1

2.5

-

-

Capital Lease Payments Due in Year 5

0.0

0.1

0.9

-

-

Capital Leases - Remaining Maturities

0.0

0.0

0.0

-

-

Total Capital Leases

7.0

9.4

10.6

-

-

Pension Obligation

118.8

123.1

119.7

115.8

115.4

Fair Value of Plan Assets

84.1

77.4

65.4

52.0

58.2

Funded Status

-34.7

-45.7

-54.3

-63.8

-57.1

Total Funded Status

-34.7

-45.7

-54.3

-63.8

-57.1

Discount Rate

2.00%

2.00%

2.00%

2.00%

2.00%

Expected Return on Plan Assets

1.25%

1.25%

1.25%

1.25%

1.25%

Unrecognized Actuarial Gains & Losses

6.1

8.9

10.3

12.2

10.0

Unrecognized Prior Service Cost

-

-

-

-

0.0

Prepaid Pension Benefit

8.6

0.7

0.4

0.3

1.2

Accrued Pension Benefit

-37.3

-37.4

-44.5

-51.9

-48.4

Net Assets Recognized on Balance Sheet

-22.6

-27.8

-33.8

-39.4

-37.2

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

86.457213

93.524123

100.786079

115.64846

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

Net Income before Taxes

185.1

237.1

127.2

100.7

164.0

    Depreciation

132.4

109.1

97.3

100.2

71.8

    Impairment Loss

5.5

3.7

21.7

5.5

11.8

    Reserve for Doubtful Accounts

4.3

-1.0

0.4

1.5

-1.0

    Reserve for Retirement Benefits(accrued)

-0.8

-10.2

-12.3

-0.9

-7.3

    Reversal of Int.& Dividends Received

-10.3

-9.2

-10.5

-14.1

-15.3

    Interest expenses

2.1

2.1

1.9

2.2

2.2

    Equity gain/loss

3.3

-2.0

-2.3

-11.4

0.0

    G/L on Sale of Fixed Assets

0.0

-0.2

-0.7

0.1

-1.4

    Loss on Retirement of Fixed Assets

2.7

3.6

3.4

1.4

5.5

    Gain Sale Investment Secs.

-28.8

-3.5

-0.4

-7.8

-36.5

    Loss Valuation Investment Secs.

2.4

0.2

3.3

131.5

27.7

    (Inc) Dec Accounts Receivable

13.5

-4.6

33.5

18.1

-20.4

    (Inc) Dec Inventories

9.9

18.7

15.7

13.1

17.5

    Inc(Dec) in Acts & Notes Payable

-4.1

-8.6

22.3

-20.7

17.6

    Guaranteed Deposits Made

2.4

3.1

23.4

-0.3

-4.1

    Inc (Dec) Sales Tax Payables

-3.9

-4.1

-0.1

1.4

2.4

    Noncurrent Guarantee Deposits Rcvd.

-15.7

-6.4

-5.4

2.8

-16.3

    Reserve for fixed assets retire. loss

-17.9

0.2

37.7

0.0

-

    Reserve for PCB

-0.1

6.6

0.0

-

-

    Res. Compensation on store closure

0.0

7.5

0.0

-

-

    Loss on adjustment for changes of accoun

38.6

0.0

-

-

-

    Other Operating Activities

-14.5

2.6

-20.2

25.4

-29.0

    Int & Div.Received(Cash Basis)

11.7

10.5

11.8

15.7

15.2

    Interest Paid (Cash Basis)

-2.1

-2.1

-1.9

-2.3

-2.2

    Income Taxes Paid

-137.6

-56.2

-64.3

-90.6

-100.2

    Income tax refund

0.0

28.7

0.0

-

-

    Newly M&A done

-

-

-

0.0

0.9

    Adjustment

-

-

0.0

-

0.0

Cash from Operating Activities

178.2

325.5

281.4

271.5

102.8

 

 

 

 

 

 

    Purchase of Marketable Securities

-15.2

-5.8

0.0

-9.9

0.0

    Sale of Marketable Sec.

30.2

4.7

0.0

109.3

6.5

    Capital Expenditures

-137.3

-160.1

-117.6

-148.4

-177.2

    Sale of PPE

1.2

10.0

8.9

0.7

0.8

    Purchase of Long-Term Inv't in Sec.

-27.3

-30.3

-13.6

-1.3

-132.6

    Purchase of subs.' secs.

-0.9

-6.3

0.0

-6.7

0.0

    Purchase of consolid. subsid.' secs.

-

-

0.0

-60.2

0.0

    Proceeds from sales of stocks of subsidi

8.4

0.0

-

-

-

    Sale of Long-Term Investment in Sec.

73.6

7.2

29.0

25.1

110.4

    Loans Made

-0.1

-0.1

-0.7

-1.5

-2.2

    Loans Collected

1.3

1.9

2.2

3.2

3.1

    Time Deposit Made

-0.2

-0.3

-0.8

-0.8

-0.7

    TimeDeposit Matured

0.3

1.4

0.8

2.9

15.6

    Other Investment Activities

-9.1

-5.1

-6.0

-1.4

0.6

Cash from Investing Activities

-75.1

-182.8

-97.8

-88.9

-175.5

 

 

 

 

 

 

    Net increase (decrease) in short-term lo

0.2

0.2

0.1

-46.4

-1.1

    Proceeds from long-term loans payable

0.2

0.0

5.5

9.1

0.5

    Long-Term Debts, Repaid

-7.8

-3.2

-8.2

-10.5

-15.3

    Bond Redemption

-

-

0.0

-99.2

0.0

    Treasury Stock Purchased

-19.3

-3.5

-23.4

-10.6

-0.6

    Treasury Stock Sold

-

-

-

0.0

0.2

    Dividends Paid

-47.3

-43.3

-40.2

-46.9

-32.6

    Dividends Paid to Minority Shareholders

-4.7

-3.9

-3.8

-4.0

-5.7

    Lease liability, repaid

-2.8

-2.5

-1.4

0.0

-

Cash from Financing Activities

-81.5

-56.2

-71.4

-208.4

-54.5

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.3

-0.3

-0.2

-0.4

Net Change in Cash

21.5

86.1

111.9

-26.0

-127.6

Net Cash - Beginning Balance

471.7

344.4

206.4

217.4

317.0

Net Cash - Ending Balance

493.2

430.5

318.3

191.4

189.4

    Cash Interest Paid

2.1

2.1

1.9

2.3

2.2

    Cash Taxes Paid

137.6

27.5

64.3

90.6

100.2

 

Financial Health

 

Financials in: USD (mil) 

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

Key Indicators USD (mil)

 

Quarter
Ending
29-Feb-2012

Quarter
Ending
Yr Ago

Annual
Year End
29-Feb-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

583.1

-0.99%

2,298.6

-8.84%

-5.29%

-2.04%

Operating Income1

37.8

61.29%

148.1

-39.78%

17.20%

-5.76%

Income Available to Common Excl Extraord Items1

55.6

192.94%

124.9

-13.57%

62.55%

4.84%

Basic EPS Excl Extraord Items1

0.30

194.64%

0.67

-13.22%

63.30%

5.10%

Capital Expenditures2

137.3

-21.74%

137.3

-21.74%

-10.19%

-11.41%

Cash from Operating Activities2

178.2

-50.04%

178.2

-50.04%

-19.91%

-9.37%

Free Cash Flow

40.1

-77.45%

40.1

-77.45%

-36.19%

0.52%

Total Assets3

3,990.6

-2.49%

3,990.6

-2.49%

1.31%

-2.81%

Total Liabilities3

1,313.8

-7.75%

1,313.8

-7.75%

-1.43%

-6.05%

Total Long Term Debt3

129.4

-6.76%

129.4

-6.76%

-1.70%

-13.78%

Employees3

-

-

3171

-5.82%

-4.12%

-2.97%

Total Common Shares Outstanding3

185.4

-0.64%

185.4

-0.64%

-0.47%

-0.35%

1-ExchangeRate: JPY to USD Average for Period

77.685032

 

78.900376

 

 

 

2-ExchangeRate: JPY to USD Average for Period

78.900376

 

78.900376

 

 

 

3-ExchangeRate: JPY to USD Period End Date

80.435452

 

80.435452

 

 

 

Key Ratios

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Profitability

Gross Margin

38.63%

38.27%

39.13%

38.51%

36.90%

Operating Margin

6.45%

9.76%

5.35%

3.40%

6.28%

Pretax Margin

8.06%

10.31%

5.90%

4.76%

9.26%

Net Profit Margin

5.43%

5.73%

3.90%

1.07%

3.56%

Financial Strength

Current Ratio

2.61

1.86

1.84

1.42

1.31

Long Term Debt/Equity

0.05

0.05

0.06

0.06

0.05

Total Debt/Equity

0.05

0.06

0.06

0.06

0.13

Management Effectiveness

Return on Assets

3.15%

3.76%

2.80%

0.99%

2.38%

Return on Equity

4.58%

5.44%

3.91%

1.13%

3.36%

Efficiency

Receivables Turnover

4.62

5.75

7.40

8.93

7.92

Inventory Turnover

25.31

21.95

17.20

15.38

12.67

Asset Turnover

0.56

0.61

0.64

0.67

0.58

Market Valuation USD (mil)

P/E (TTM)

25.92

.

Enterprise Value2

3,280.8

Price/Sales (TTM)

1.43

.

Enterprise Value/Revenue (TTM)

1.46

Price/Book (MRQ)

1.18

.

Enterprise Value/EBITDA (TTM)

11.92

Market Cap as of 29-Jun-20121

3,273.2

.

 

 

1-ExchangeRate: JPY to USD on 29-Jun-2012

79.390941

 

 

 

2-ExchangeRate: JPY to USD on 29-Feb-2012

80.435452

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

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

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Financial Strength

Current Ratio

2.61

1.86

1.84

1.42

1.31

Quick/Acid Test Ratio

2.16

1.51

1.37

0.99

0.97

Working Capital1

624.3

442.8

375.0

163.2

157.5

Long Term Debt/Equity

0.05

0.05

0.06

0.06

0.05

Total Debt/Equity

0.05

0.06

0.06

0.06

0.13

Long Term Debt/Total Capital

0.05

0.05

0.06

0.05

0.05

Total Debt/Total Capital

0.05

0.05

0.06

0.06

0.11

Payout Ratio

18.87%

16.37%

47.64%

164.30%

64.68%

Effective Tax Rate

30.03%

40.63%

26.39%

68.69%

55.89%

Total Capital1

2,817.5

2,767.6

2,441.3

2,148.5

2,250.3

 

 

 

 

 

 

Efficiency

Asset Turnover

0.56

0.61

0.64

0.67

0.58

Inventory Turnover

25.31

21.95

17.20

15.38

12.67

Days In Inventory

14.42

16.63

21.22

23.73

28.80

Receivables Turnover

4.62

5.75

7.40

8.93

7.92

Days Receivables Outstanding

78.97

63.52

49.34

40.85

46.08

Revenue/Employee2

711,046

721,214

638,819

606,434

528,163

Operating Income/Employee2

45,828

70,366

34,177

20,625

33,145

EBITDA/Employee2

86,783

104,565

63,005

49,315

54,533

 

 

 

 

 

 

Profitability

Gross Margin

38.63%

38.27%

39.13%

38.51%

36.90%

Operating Margin

6.45%

9.76%

5.35%

3.40%

6.28%

EBITDA Margin

12.21%

14.50%

9.86%

8.13%

10.33%

EBIT Margin

6.45%

9.76%

5.35%

3.40%

6.28%

Pretax Margin

8.06%

10.31%

5.90%

4.76%

9.26%

Net Profit Margin

5.43%

5.73%

3.90%

1.07%

3.56%

COGS/Revenue

61.37%

61.73%

60.87%

61.49%

63.10%

SG&A Expense/Revenue

27.17%

25.42%

28.13%

26.99%

26.01%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

3.15%

3.76%

2.80%

0.99%

2.38%

Return on Equity

4.58%

5.44%

3.91%

1.13%

3.36%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

0.22

0.94

0.92

0.67

-0.44

Operating Cash Flow/Share 2

0.94

1.84

1.59

1.49

0.61

1-ExchangeRate: JPY to USD Period End Date

80.435452

81.93

88.865

97.845

104.105

2-ExchangeRate: JPY to USD Average for Period

80.435452

81.93

88.865

97.845

104.105

 

Current Market Multiples

Market Cap/Earnings (TTM)

26.43

Market Cap/Equity (MRQ)

1.21

Market Cap/Revenue (TTM)

1.43

Market Cap/EBIT (TTM)

22.12

Market Cap/EBITDA (TTM)

11.52

Enterprise Value/Earnings (TTM)

26.84

Enterprise Value/Equity (MRQ)

1.23

Enterprise Value/Revenue (TTM)

1.46

Enterprise Value/EBIT (TTM)

22.46

Enterprise Value/EBITDA (TTM)

11.70

 

 

 

 

Annual Income Statement

Standardized

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

86.457213

93.524123

100.786079

115.64846

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Net Sales

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

Revenue

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

Total Revenue

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

 

 

 

 

 

 

    Cost of Revenue

1,410.7

1,420.5

1,312.7

1,302.6

1,118.7

Cost of Revenue, Total

1,410.7

1,420.5

1,312.7

1,302.6

1,118.7

Gross Profit

887.9

880.7

844.0

815.7

654.3

 

 

 

 

 

 

    Selling/General/Administrative Expense

282.3

272.9

262.2

224.9

198.7

    Labor & Related Expense

242.8

227.1

219.5

204.5

178.0

    Advertising Expense

99.4

84.8

124.9

142.2

84.5

Total Selling/General/Administrative Expenses

624.4

584.8

606.6

571.6

461.2

    Depreciation

50.2

38.4

33.6

31.9

20.4

    Amortization of Acquisition Costs

-

-

0.0

-3.9

0.0

Depreciation/Amortization

50.2

38.4

33.6

28.0

20.4

    Impairment-Assets Held for Use

6.4

8.6

31.6

11.9

21.1

    Impairment-Assets Held for Sale

2.4

0.2

3.3

131.5

27.7

    Other Unusual Expense (Income)

56.3

24.1

53.4

0.6

12.6

Unusual Expense (Income)

65.1

32.9

88.3

144.0

61.4

Total Operating Expense

2,150.4

2,076.7

2,041.3

2,046.2

1,661.7

 

 

 

 

 

 

Operating Income

148.1

224.5

115.4

72.0

111.3

 

 

 

 

 

 

        Interest Expense - Non-Operating

-2.1

-2.1

-1.9

-2.2

-2.2

    Interest Expense, Net Non-Operating

-2.1

-2.1

-1.9

-2.2

-2.2

        Interest Income - Non-Operating

0.9

1.0

1.0

1.8

2.3

        Investment Income - Non-Operating

35.2

13.0

11.4

30.7

49.4

    Interest/Investment Income - Non-Operating

36.2

14.0

12.4

32.6

51.7

Interest Income (Expense) - Net Non-Operating Total

34.0

11.8

10.5

30.3

49.5

Gain (Loss) on Sale of Assets

-0.1

0.2

0.6

-0.1

1.4

    Other Non-Operating Income (Expense)

3.1

0.6

0.8

-1.4

1.9

Other, Net

3.1

0.6

0.8

-1.4

1.9

Income Before Tax

185.2

237.2

127.3

100.8

164.1

 

 

 

 

 

 

Total Income Tax

55.6

96.4

33.6

69.2

91.7

Income After Tax

129.6

140.8

93.7

31.6

72.4

 

 

 

 

 

 

    Minority Interest

-4.6

-8.9

-9.4

-8.7

-9.3

Net Income Before Extraord Items

125.0

131.9

84.3

22.9

63.1

Net Income

125.0

131.9

84.3

22.9

63.1

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-0.1

-0.1

-0.1

-0.1

-0.1

Total Adjustments to Net Income

-0.1

-0.1

-0.1

-0.1

-0.1

Income Available to Common Excl Extraord Items

124.9

131.8

84.2

22.8

63.0

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

124.9

131.8

84.2

22.8

63.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

185.9

186.6

187.6

188.4

188.6

Basic EPS Excl Extraord Items

0.67

0.71

0.45

0.12

0.33

Basic/Primary EPS Incl Extraord Items

0.67

0.71

0.45

0.12

0.33

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

124.9

131.8

84.2

22.8

63.0

Diluted Weighted Average Shares

185.9

186.6

187.6

188.4

188.6

Diluted EPS Excl Extraord Items

0.67

0.71

0.45

0.12

0.33

Diluted EPS Incl Extraord Items

0.67

0.71

0.45

0.12

0.33

Dividends per Share - Common Stock Primary Issue

0.13

0.12

0.21

0.20

0.22

Gross Dividends - Common Stock

47.1

43.2

40.1

37.4

40.8

Interest Expense, Supplemental

2.1

2.1

1.9

2.2

2.2

Depreciation, Supplemental

132.4

109.1

97.3

100.2

71.8

Total Special Items

65.2

32.7

87.7

140.3

60.0

Normalized Income Before Tax

250.4

269.9

215.0

241.1

224.1

 

 

 

 

 

 

Effect of Special Items on Income Taxes

19.6

13.3

23.2

50.5

33.5

Inc Tax Ex Impact of Sp Items

75.2

109.7

56.7

119.7

125.3

Normalized Income After Tax

175.2

160.2

158.2

121.4

98.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

170.5

151.3

148.8

112.6

89.5

 

 

 

 

 

 

Basic Normalized EPS

0.92

0.81

0.79

0.60

0.47

Diluted Normalized EPS

0.92

0.81

0.79

0.60

0.47

Amort of Acquisition Costs, Supplemental

-

-

0.0

-3.9

0.0

Rental Expenses

92.3

91.6

83.4

74.0

57.7

Advertising Expense, Supplemental

99.4

84.8

124.9

142.2

84.5

Reported Operating Profit

213.2

259.1

204.9

230.8

172.6

Reported Ordinary Profit

220.2

268.1

215.7

255.7

187.6

Normalized EBIT

213.3

257.4

203.7

216.1

172.6

Normalized EBITDA

345.7

366.5

301.0

312.4

244.4

Interest Cost - Domestic

1.6

1.5

1.5

1.4

1.3

Service Cost - Domestic

6.9

6.0

7.7

8.3

7.3

Prior Service Cost - Domestic

-

-

-1.7

-

0.0

Expected Return on Assets - Domestic

-0.8

-0.5

-0.4

-0.4

-0.4

Actuarial Gains and Losses - Domestic

1.7

1.6

1.6

1.3

1.0

Other Pension, Net - Domestic

1.1

0.4

0.8

3.5

0.8

Domestic Pension Plan Expense

10.6

9.0

9.5

14.1

10.0

Total Pension Expense

10.6

9.0

9.5

14.1

10.0

Discount Rate - Domestic

2.00%

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

1.25%

1.25%

1.25%

1.25%

1.25%

Total Plan Interest Cost

1.6

1.5

1.5

1.4

1.3

Total Plan Service Cost

6.9

6.0

7.7

8.3

7.3

Total Plan Expected Return

-0.8

-0.5

-0.4

-0.4

-0.4

Total Plan Other Expense

1.1

0.4

0.8

3.5

0.8

 

 

 

Interim Income Statement

Standardized

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

77.685032

76.972151

78.923925

81.970699

82.862258

 

 

 

 

 

 

    Net Sales

583.1

543.3

599.4

572.6

552.1

Revenue

583.1

543.3

599.4

572.6

552.1

Total Revenue

583.1

543.3

599.4

572.6

552.1

 

 

 

 

 

 

    Cost of Revenue

363.8

318.4

380.7

347.5

354.7

Cost of Revenue, Total

363.8

318.4

380.7

347.5

354.7

Gross Profit

219.2

225.0

218.7

225.1

197.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

79.1

92.2

87.3

77.8

75.7

    Labor & Related Expense

65.0

58.9

60.1

55.4

59.8

    Advertising Expense

23.4

34.5

19.9

21.9

15.7

Total Selling/General/Administrative Expenses

167.5

185.6

167.3

155.2

151.1

    Impairment-Assets Held for Use

5.0

0.1

0.2

1.2

7.1

    Impairment-Assets Held for Sale

0.4

0.0

0.1

1.6

0.0

    Other Unusual Expense (Income)

8.5

0.2

0.9

44.7

17.1

Unusual Expense (Income)

13.9

0.3

1.1

47.4

24.2

Total Operating Expense

545.3

504.3

549.2

550.1

530.1

 

 

 

 

 

 

Operating Income

37.8

39.0

50.2

22.5

22.0

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.6

-0.5

-0.5

-0.5

-0.5

    Interest Expense, Net Non-Operating

-0.6

-0.5

-0.5

-0.5

-0.5

        Interest Income - Non-Operating

0.2

0.2

0.3

0.2

0.3

        Investment Income - Non-Operating

19.1

4.8

9.2

2.7

7.1

    Interest/Investment Income - Non-Operating

19.3

5.0

9.6

2.9

7.3

Interest Income (Expense) - Net Non-Operating Total

18.7

4.5

9.0

2.4

6.8

Gain (Loss) on Sale of Assets

-

-

-

-

0.2

    Other Non-Operating Income (Expense)

1.4

0.0

0.0

0.5

-0.4

Other, Net

1.4

0.0

0.0

0.5

-0.4

Income Before Tax

57.9

43.5

59.3

25.4

28.6

 

 

 

 

 

 

Total Income Tax

0.9

19.4

21.1

14.2

9.0

Income After Tax

57.0

24.2

38.2

11.2

19.6

 

 

 

 

 

 

    Minority Interest

-1.5

-0.9

-2.0

-0.2

-1.9

Net Income Before Extraord Items

55.5

23.2

36.2

11.1

17.7

Net Income

55.5

23.2

36.2

11.1

17.7

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

0.1

-0.1

-0.1

-0.1

0.1

Total Adjustments to Net Income

0.1

-0.1

-0.1

-0.1

0.1

Income Available to Common Excl Extraord Items

55.6

23.2

36.1

11.0

17.8

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

55.6

23.2

36.1

11.0

17.8

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

185.5

185.7

185.9

186.4

186.6

Basic EPS Excl Extraord Items

0.30

0.12

0.19

0.06

0.10

Basic/Primary EPS Incl Extraord Items

0.30

0.12

0.19

0.06

0.10

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

55.6

23.2

36.1

11.0

17.8

Diluted Weighted Average Shares

185.5

185.7

185.9

186.4

186.6

Diluted EPS Excl Extraord Items

0.30

0.12

0.19

0.06

0.10

Diluted EPS Incl Extraord Items

0.30

0.12

0.19

0.06

0.10

Dividends per Share - Common Stock Primary Issue

0.06

0.00

0.06

0.00

0.06

Gross Dividends - Common Stock

35.8

0.0

11.8

0.0

33.8

Interest Expense, Supplemental

0.6

0.5

0.5

0.5

0.5

Depreciation, Supplemental

34.4

36.0

32.9

29.3

30.1

Total Special Items

13.9

1.9

2.6

48.8

24.0

Normalized Income Before Tax

71.8

45.4

61.9

74.3

52.6

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.2

0.1

0.4

26.5

7.6

Inc Tax Ex Impact of Sp Items

1.1

19.5

21.5

40.7

16.5

Normalized Income After Tax

70.7

25.9

40.4

33.6

36.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

69.2

24.9

38.3

33.3

34.3

 

 

 

 

 

 

Basic Normalized EPS

0.37

0.13

0.21

0.18

0.18

Diluted Normalized EPS

0.37

0.13

0.21

0.18

0.18

Amort of Acquisition Costs, Supplemental

-

1.5

1.5

1.4

-

Rental Expenses

23.1

22.8

25.1

21.3

21.5

Advertising Expense, Supplemental

23.4

34.5

19.9

21.9

15.7

Reported Operating Profit

51.7

39.3

51.3

69.9

46.3

Reported Ordinary Profit

53.6

38.2

56.9

70.5

49.3

Normalized EBIT

51.7

39.4

51.3

69.9

46.2

Normalized EBITDA

86.1

76.9

85.7

100.7

76.3

 

 

Annual Balance Sheet

Standardized

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

UpdateType/Date

Updated Normal
29-Feb-2012

Updated Normal
28-Feb-2011

Updated Normal
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

80.435452

81.93

88.865

97.845

104.105

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

132.7

115.6

133.0

102.8

140.8

    Short Term Investments

222.6

178.5

148.2

25.0

132.7

Cash and Short Term Investments

355.4

294.1

281.2

127.7

273.5

        Accounts Receivable - Trade, Gross

170.0

179.9

161.4

178.4

181.6

        Provision for Doubtful Accounts

-2.6

-2.7

-1.2

-1.5

-1.2

    Trade Accounts Receivable - Net

167.4

177.2

160.1

176.9

180.4

    Other Receivables

316.9

305.1

174.4

76.6

40.3

Total Receivables, Net

484.4

482.4

334.5

253.5

220.8

    Inventories - Finished Goods

18.9

21.3

25.1

-

-

    Inventories - Work In Progress

24.7

31.3

41.6

-

-

    Inventories - Raw Materials

6.3

5.8

5.4

-

-

Total Inventory

49.8

58.4

72.1

80.5

88.3

    Deferred Income Tax - Current Asset

32.5

42.9

34.0

21.0

19.6

    Other Current Assets

90.6

80.8

102.2

65.6

63.3

Other Current Assets, Total

123.1

123.7

136.2

86.6

82.8

Total Current Assets

1,012.6

958.6

824.0

548.3

665.4

 

 

 

 

 

 

Property/Plant/Equipment - Net

1,964.1

1,934.9

1,748.7

1,681.5

1,397.9

Goodwill, Net

64.5

69.0

68.9

67.4

67.9

Intangibles, Net

32.9

32.4

30.9

23.5

22.1

    LT Investment - Affiliate Companies

119.7

116.6

107.5

-

-

    LT Investments - Other

510.0

634.2

533.3

548.5

754.8

Long Term Investments

629.7

750.7

640.8

548.5

754.8

Note Receivable - Long Term

10.1

11.6

13.4

15.0

14.8

    Deferred Income Tax - Long Term Asset

27.4

12.3

13.9

13.5

15.0

    Other Long Term Assets

249.4

248.4

237.0

257.4

252.7

Other Long Term Assets, Total

276.7

260.7

250.9

270.9

267.7

Total Assets

3,990.6

4,018.0

3,577.6

3,155.2

3,190.6

 

 

 

 

 

 

Accounts Payable

143.8

145.1

142.1

107.8

120.4

Accrued Expenses

64.0

70.0

72.7

109.0

86.6

Notes Payable/Short Term Debt

1.7

1.4

1.1

1.0

41.0

Current Portion - Long Term Debt/Capital Leases

9.7

10.2

5.8

8.1

105.5

    Income Taxes Payable

17.8

79.6

27.6

24.4

42.4

    Other Payables

39.3

61.9

66.0

55.6

28.6

    Other Current Liabilities

112.1

147.6

133.6

79.2

83.4

Other Current liabilities, Total

169.2

289.2

227.3

159.2

154.4

Total Current Liabilities

388.3

515.9

449.0

385.1

507.9

 

 

 

 

 

 

    Long Term Debt

125.3

129.5

125.9

112.0

104.8

    Capital Lease Obligations

4.1

6.7

8.2

0.0

-

Total Long Term Debt

129.4

136.2

134.1

112.0

104.8

Total Debt

140.7

147.8

141.1

121.1

251.4

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

102.0

134.5

113.0

86.2

65.3

Deferred Income Tax

102.0

134.5

113.0

86.2

65.3

Minority Interest

264.8

256.5

243.2

219.0

207.4

    Reserves

88.8

9.5

2.1

0.5

0.8

    Pension Benefits - Underfunded

41.2

42.0

48.9

56.7

54.1

    Other Long Term Liabilities

299.4

303.7

287.1

268.2

251.3

Other Liabilities, Total

429.4

355.1

338.1

325.4

306.2

Total Liabilities

1,313.8

1,398.3

1,277.5

1,127.7

1,191.6

 

 

 

 

 

 

    Common Stock

128.7

126.4

116.5

105.8

99.5

Common Stock

128.7

126.4

116.5

105.8

99.5

Additional Paid-In Capital

172.0

168.9

155.7

142.1

133.6

Retained Earnings (Accumulated Deficit)

2,352.4

2,234.8

1,974.2

1,751.1

1,669.1

Treasury Stock - Common

-64.7

-44.9

-37.9

-15.4

-4.2

Unrealized Gain (Loss)

88.4

134.5

91.6

43.8

101.1

    Translation Adjustment

0.0

0.0

-

-

-

Other Equity, Total

0.0

0.0

-

-

-

Total Equity

2,676.8

2,619.7

2,300.2

2,027.5

1,999.0

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

3,990.6

4,018.0

3,577.6

3,155.2

3,190.6

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

185.4

186.5

186.8

188.0

188.6

Total Common Shares Outstanding

185.4

186.5

186.8

188.0

188.6

Treasury Shares - Common Stock Primary Issue

3.6

2.4

2.2

1.0

0.3

Employees

3,171

3,367

3,553

3,598

3,729

Number of Common Shareholders

27,192

29,137

25,827

23,025

19,594

Total Long Term Debt, Supplemental

160.8

161.7

16.9

120.1

210.4

Long Term Debt Maturing within 1 Year

10.5

7.5

3.5

8.1

105.5

Long Term Debt Maturing in Year 2

125.2

31.0

7.2

3.3

6.8

Long Term Debt Maturing in Year 3

0.3

122.9

6.2

6.5

2.0

Long Term Debt Maturing in Year 4

24.7

0.1

0.0

0.0

-

Long Term Debt Maturing in Year 5

0.0

0.1

0.0

102.2

-

Long Term Debt Maturing in 2-3 Years

125.5

153.9

13.4

9.8

8.8

Long Term Debt Maturing in 4-5 Years

24.7

0.2

0.0

102.2

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

0.0

0.0

96.1

Total Capital Leases, Supplemental

7.0

9.4

10.6

-

-

Capital Lease Payments Due in Year 1

2.8

2.7

2.4

-

-

Capital Lease Payments Due in Year 2

2.9

2.7

2.4

-

-

Capital Lease Payments Due in Year 3

1.2

2.8

2.4

-

-

Capital Lease Payments Due in Year 4

0.1

1.1

2.5

-

-

Capital Lease Payments Due in Year 5

0.0

0.1

0.9

-

-

Capital Lease Payments Due in 2-3 Years

4.0

5.5

4.8

-

-

Capital Lease Payments Due in 4-5 Years

0.1

1.2

3.4

-

-

Cap. Lease Pymts. Due in Year 6 & Beyond

0.0

0.0

0.0

-

-

Pension Obligation - Domestic

118.8

123.1

119.7

115.8

115.4

Plan Assets - Domestic

84.1

77.4

65.4

52.0

58.2

Funded Status - Domestic

-34.7

-45.7

-54.3

-63.8

-57.1

Total Funded Status

-34.7

-45.7

-54.3

-63.8

-57.1

Discount Rate - Domestic

2.00%

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

1.25%

1.25%

1.25%

1.25%

1.25%

Prepaid Benefits - Domestic

8.6

0.7

0.4

0.3

1.2

Accrued Liabilities - Domestic

-37.3

-37.4

-44.5

-51.9

-48.4

Other Assets, Net - Domestic

6.1

8.9

10.3

12.2

10.0

Net Assets Recognized on Balance Sheet

-22.6

-27.8

-33.8

-39.4

-37.2

Total Plan Obligations

118.8

123.1

119.7

115.8

115.4

Total Plan Assets

84.1

77.4

65.4

52.0

58.2

 

 

 

Interim Balance Sheet

Standardized

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

80.435452

77.63

76.47

81.24

81.93

 

 

 

 

 

 

    Cash & Equivalents

132.7

153.0

151.7

154.3

115.6

    Short Term Investments

77.0

65.3

68.8

56.1

61.0

Cash and Short Term Investments

209.7

218.4

220.5

210.4

176.6

        Accounts Receivable - Trade, Gross

170.0

164.0

189.5

177.9

179.9

        Provision for Doubtful Accounts

-2.6

-2.8

-2.9

-2.9

-2.7

    Trade Accounts Receivable - Net

167.4

161.2

186.7

175.0

177.2

Total Receivables, Net

167.4

161.2

186.7

175.0

177.2

    Inventories - Finished Goods

18.9

24.0

24.1

22.0

21.3

    Inventories - Work In Progress

24.7

34.3

36.8

38.4

31.3

    Inventories - Raw Materials

6.3

5.5

5.9

5.4

5.8

Total Inventory

49.8

63.9

66.8

65.8

58.4

    Other Current Assets

585.6

569.2

565.8

471.4

546.4

Other Current Assets, Total

585.6

569.2

565.8

471.4

546.4

Total Current Assets

1,012.6

1,012.7

1,039.8

922.6

958.6

 

 

 

 

 

 

Property/Plant/Equipment - Net

1,964.1

2,064.6

2,131.5

2,008.8

1,934.9

Goodwill, Net

64.5

68.3

70.9

68.2

69.0

Intangibles, Net

32.9

34.5

35.7

32.9

32.4

    LT Investments - Other

629.7

629.8

675.8

624.8

750.7

Long Term Investments

629.7

629.8

675.8

624.8

750.7

    Other Long Term Assets

286.8

309.3

316.3

301.5

272.3

Other Long Term Assets, Total

286.8

309.3

316.3

301.5

272.3

Total Assets

3,990.6

4,119.2

4,270.0

3,958.9

4,018.0

 

 

 

 

 

 

Accounts Payable

143.8

138.2

188.7

157.3

145.1

Accrued Expenses

10.4

4.5

11.7

15.6

10.5

Notes Payable/Short Term Debt

1.7

1.7

1.5

1.5

1.4

Current Portion - Long Term Debt/Capital Leases

9.7

14.8

14.8

13.7

10.2

    Income Taxes Payable

17.8

11.7

36.5

16.1

79.6

    Other Current Liabilities

205.0

341.3

325.5

318.7

269.0

Other Current liabilities, Total

222.8

353.0

362.0

334.8

348.6

Total Current Liabilities

388.3

512.3

578.7

522.9

515.9

 

 

 

 

 

 

    Long Term Debt

125.3

129.8

131.9

124.4

129.5

    Capital Lease Obligations

4.1

-

-

-

6.7

Total Long Term Debt

129.4

129.8

131.9

124.4

136.2

Total Debt

140.7

146.3

148.3

139.7

147.8

 

 

 

 

 

 

Minority Interest

264.8

272.3

277.3

259.0

256.5

    Reserves

80.7

85.8

86.8

81.3

9.5

    Pension Benefits - Underfunded

41.2

44.1

45.0

41.5

42.0

    Other Long Term Liabilities

409.4

398.9

408.8

389.6

438.1

Other Liabilities, Total

531.3

528.7

540.5

512.4

489.6

Total Liabilities

1,313.8

1,443.1

1,528.5

1,418.8

1,398.3

 

 

 

 

 

 

    Common Stock

128.7

133.4

135.4

127.5

126.4

Common Stock

128.7

133.4

135.4

127.5

126.4

Additional Paid-In Capital

172.0

178.2

180.9

170.3

168.9

Retained Earnings (Accumulated Deficit)

2,352.4

2,381.8

2,406.8

2,230.4

2,234.8

Treasury Stock - Common

-64.7

-66.3

-58.9

-55.4

-44.9

Unrealized Gain (Loss)

88.4

48.9

77.2

67.3

134.5

    Translation Adjustment

0.0

-0.1

-

-

0.0

Other Equity, Total

0.0

-0.1

-

-

0.0

Total Equity

2,676.8

2,676.0

2,741.5

2,540.1

2,619.7

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

3,990.6

4,119.2

4,270.0

3,958.9

4,018.0

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

185.4

185.4

185.9

185.9

186.5

Total Common Shares Outstanding

185.4

185.4

185.9

185.9

186.5

Treasury Shares - Common Stock Primary Issue

3.6

3.6

3.1

3.1

2.4

Employees

3,171

3,187

3,229

3,281

3,367

 

 

 

Annual Cash Flows

Standardized

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

86.457213

93.524123

100.786079

115.64846

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

185.1

237.1

127.2

100.7

164.0

    Depreciation

132.4

109.1

97.3

100.2

71.8

Depreciation/Depletion

132.4

109.1

97.3

100.2

71.8

    Unusual Items

20.5

3.8

27.4

130.8

7.1

    Equity in Net Earnings (Loss)

3.3

-2.0

-2.3

-11.4

0.0

    Other Non-Cash Items

-22.7

-4.1

17.2

-11.3

-20.6

Non-Cash Items

1.1

-2.3

42.3

108.1

-13.5

    Accounts Receivable

13.5

-4.6

33.5

18.1

-20.4

    Inventories

9.9

18.7

15.7

13.1

17.5

    Other Assets

2.4

3.1

23.4

-0.3

-4.1

    Accounts Payable

-4.1

-8.6

22.3

-20.7

17.6

    Taxes Payable

-3.9

-4.1

-0.1

1.4

2.4

    Other Liabilities

-15.7

-6.4

-5.4

2.8

-16.3

    Other Operating Cash Flow

-142.5

-16.5

-74.7

-51.9

-116.2

Changes in Working Capital

-140.4

-18.4

14.6

-37.5

-119.5

Cash from Operating Activities

178.2

325.5

281.4

271.5

102.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-137.3

-160.1

-117.6

-148.4

-177.2

Capital Expenditures

-137.3

-160.1

-117.6

-148.4

-177.2

    Acquisition of Business

-

-

0.0

-60.2

0.0

    Sale of Fixed Assets

1.2

10.0

8.9

0.7

0.8

    Sale/Maturity of Investment

112.6

13.3

29.8

137.3

132.6

    Purchase of Investments

-43.6

-42.6

-14.4

-18.7

-133.2

    Other Investing Cash Flow

-7.9

-3.3

-4.5

0.3

1.5

Other Investing Cash Flow Items, Total

62.2

-22.7

19.8

59.5

1.7

Cash from Investing Activities

-75.1

-182.8

-97.8

-88.9

-175.5

 

 

 

 

 

 

    Other Financing Cash Flow

-4.7

-3.9

-3.8

-4.0

-5.7

Financing Cash Flow Items

-4.7

-3.9

-3.8

-4.0

-5.7

    Cash Dividends Paid - Common

-47.3

-43.3

-40.2

-46.9

-32.6

Total Cash Dividends Paid

-47.3

-43.3

-40.2

-46.9

-32.6

        Sale/Issuance of Common

-

-

-

0.0

0.2

        Repurchase/Retirement of Common

-19.3

-3.5

-23.4

-10.6

-0.6

    Common Stock, Net

-19.3

-3.5

-23.4

-10.6

-0.4

Issuance (Retirement) of Stock, Net

-19.3

-3.5

-23.4

-10.6

-0.4

    Short Term Debt, Net

0.2

0.2

0.1

-46.4

-1.1

        Long Term Debt Issued

0.2

0.0

5.5

9.1

0.5

        Long Term Debt Reduction

-10.6

-5.6

-9.6

-109.7

-15.3

    Long Term Debt, Net

-10.4

-5.6

-4.1

-100.7

-14.7

Issuance (Retirement) of Debt, Net

-10.2

-5.4

-4.0

-147.0

-15.8

Cash from Financing Activities

-81.5

-56.2

-71.4

-208.4

-54.5

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.3

-0.3

-0.2

-0.4

Net Change in Cash

21.5

86.1

111.9

-26.0

-127.6

 

 

 

 

 

 

Net Cash - Beginning Balance

471.7

344.4

206.4

217.4

317.0

Net Cash - Ending Balance

493.2

430.5

318.3

191.4

189.4

Cash Interest Paid

2.1

2.1

1.9

2.3

2.2

Cash Taxes Paid

137.6

27.5

64.3

90.6

100.2

 

 

 

Interim Cash Flows

Standardized

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

Period Length

12 Months

9 Months

6 Months

3 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

79.301322

80.443027

81.970699

86.457213

 

 

 

 

 

 

Net Income/Starting Line

185.1

127.4

84.0

25.4

237.1

    Depreciation

132.4

98.0

62.2

29.3

109.1

Depreciation/Depletion

132.4

98.0

62.2

29.3

109.1

    Amortization of Acquisition Costs

-

4.4

2.9

1.4

-

Amortization

-

4.4

2.9

1.4

-

    Unusual Items

20.5

40.4

39.9

37.1

3.8

    Equity in Net Earnings (Loss)

3.3

0.5

-0.6

0.2

-2.0

    Other Non-Cash Items

-22.7

1.1

-5.0

0.0

-4.1

Non-Cash Items

1.1

41.9

34.3

37.3

-2.3

    Accounts Receivable

13.5

25.3

3.1

3.5

-4.6

    Inventories

9.9

-2.2

-4.0

-6.8

18.7

    Other Assets

2.4

-

-

-

3.1

    Accounts Payable

-4.1

-14.5

31.6

10.9

-8.6

    Taxes Payable

-3.9

-

-

-

-4.1

    Other Liabilities

-15.7

-

-

-

-6.4

    Other Operating Cash Flow

-142.5

-112.9

-72.0

-56.6

-16.5

Changes in Working Capital

-140.4

-104.2

-41.4

-49.0

-18.4

Cash from Operating Activities

178.2

167.5

142.0

44.4

325.5

 

 

 

 

 

 

    Purchase of Fixed Assets

-137.3

-120.3

-80.4

-52.5

-160.1

Capital Expenditures

-137.3

-120.3

-80.4

-52.5

-160.1

    Acquisition of Business

-

-

-0.7

-0.2

-

    Sale of Fixed Assets

1.2

0.5

0.5

0.2

10.0

    Sale/Maturity of Investment

112.6

52.9

36.3

20.7

13.3

    Purchase of Investments

-43.6

-29.6

-16.4

0.0

-42.6

    Other Investing Cash Flow

-7.9

-3.0

-3.4

-2.0

-3.3

Other Investing Cash Flow Items, Total

62.2

20.9

16.3

18.7

-22.7

Cash from Investing Activities

-75.1

-99.4

-64.1

-33.8

-182.8

 

 

 

 

 

 

    Other Financing Cash Flow

-4.7

-4.7

-2.6

-2.6

-3.9

Financing Cash Flow Items

-4.7

-4.7

-2.6

-2.6

-3.9

    Cash Dividends Paid - Common

-47.3

-46.4

-34.8

-30.7

-43.3

Total Cash Dividends Paid

-47.3

-46.4

-34.8

-30.7

-43.3

        Repurchase/Retirement of Common

-19.3

-18.5

-10.3

-10.1

-3.5

    Common Stock, Net

-19.3

-18.5

-10.3

-10.1

-3.5

Issuance (Retirement) of Stock, Net

-19.3

-18.5

-10.3

-10.1

-3.5

    Short Term Debt, Net

0.2

0.2

0.0

0.1

0.2

        Long Term Debt Issued

0.2

0.2

0.2

-

0.0

        Long Term Debt Reduction

-10.6

-2.3

-1.6

-0.7

-5.6

    Long Term Debt, Net

-10.4

-2.1

-1.4

-0.7

-5.6

Issuance (Retirement) of Debt, Net

-10.2

-1.9

-1.4

-0.6

-5.4

Cash from Financing Activities

-81.5

-71.4

-49.0

-43.9

-56.2

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.2

-0.5

0.0

-0.3

Net Change in Cash

21.5

-3.4

28.4

-33.3

86.1

 

 

 

 

 

 

Net Cash - Beginning Balance

471.7

469.3

462.7

454.1

344.4

Net Cash - Ending Balance

493.2

465.9

491.1

420.8

430.5

Cash Interest Paid

2.1

1.3

1.2

0.5

2.1

Cash Taxes Paid

137.6

135.9

85.1

84.1

27.5

 

 

 

Annual Income Statement

As Reported

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

86.457213

93.524123

100.786079

115.64846

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Net Sales

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

Total Revenue

2,298.6

2,301.2

2,156.7

2,118.3

1,772.9

 

 

 

 

 

 

    Cost of Sales

1,410.7

1,420.5

1,312.7

1,287.6

1,118.7

    Labor Cost

224.8

211.7

204.5

187.0

162.2

    Advertising expenses

99.4

84.8

124.9

142.2

84.5

    Provision for bonuses

8.4

7.3

7.5

8.4

5.9

    Periodic Retirement Benefit Costs

9.0

7.6

6.7

8.6

7.7

    Provision for directors'' retirement ben

0.6

0.6

0.8

0.5

2.3

    Depreciation

50.2

36.6

32.4

28.2

20.4

    Rental Expenses

92.3

91.6

83.4

74.0

57.7

    Other Selling & General Expense

190.0

181.3

178.8

150.8

141.0

    SP G on cancel of insurance contract

-1.0

-0.1

-2.0

-2.9

-2.8

    SP Compensation Received

0.0

-0.2

-0.2

-1.8

0.0

    SP G on Negative Goodwill

0.0

-3.8

0.0

-

-

    SP Gain-insurance adjustment

-

-

0.0

0.0

-0.4

    SP Other Special Gains

-2.1

-0.8

-1.3

-2.0

-3.6

    SP Impairment Loss

5.5

3.7

21.7

5.5

11.8

    SP Loss on Retire. of Fixed Assets

0.9

2.8

2.1

1.4

5.5

    SP Fixed Asset Demolition Cost

0.0

2.1

7.8

5.0

3.9

    SP Loss on Val. of LT Inv't. Secs.

2.4

0.2

3.3

131.5

27.7

    SP Bad debts written off

0.3

0.0

0.3

0.0

0.0

    SP Compensation for Eviction

4.5

2.0

11.9

1.5

7.6

    SP Special retirement expenses

3.0

0.6

0.2

2.4

6.1

    SP Nonrecurring depreciation

0.0

1.8

1.2

3.7

0.0

    SP L on fixed assets retire. loss reserv

1.3

5.4

37.1

0.0

-

    SP Res. Compensation on store closure

0.0

7.5

0.0

-

-

    SP L on adj. for changes of accn. asset

38.6

0.0

-

-

-

    SP Loss on PCB reserve

0.0

7.3

1.7

0.0

-

    SP L on val. of inventories

-

-

0.0

15.0

0.0

    SP Loss on disaster

7.2

0.0

-

-

-

    SP Other Special Loss

4.6

6.2

5.8

3.4

5.7

    NOP Amort. of negative goodwill

-

-

0.0

-3.9

0.0

Total Operating Expense

2,150.4

2,076.7

2,041.3

2,046.2

1,661.7

 

 

 

 

 

 

    NOP Interest Income

0.9

1.0

1.0

1.8

2.3

    NOP Dividends Received

9.4

8.2

9.5

12.3

13.0

    NOP Gain on Sale of Mkbl. Secs.

0.0

0.0

0.1

0.0

0.0

    NOP Distribution - Investment Trust Fund

0.0

0.0

0.0

0.1

0.1

    NOP Equity Earning

0.0

2.0

2.3

11.4

0.0

    NOP Rev. of Allowance for Doubtful Acc.

-

-

-

0.0

1.8

    NOP Other non-operating income

3.9

1.7

1.4

1.4

1.8

    NOP Interest Expense

-2.1

-2.1

-1.9

-2.2

-2.2

    NOP L on Sale of Marketable Secs.

0.0

0.0

-0.1

0.0

0.0

    NOP Equity Losses

-3.3

0.0

-

0.0

-0.2

    NOP Allow. Doubtful Acct

0.0

-0.2

0.0

-1.6

0.0

    NOP L on investment union

-0.9

-0.8

-0.8

-1.0

0.0

    NOP Other Non-Operating Expenses

-0.8

-0.8

-0.6

-1.2

-1.7

    SP Gain on Sales of Fixed Assets

0.1

0.2

2.4

0.1

2.3

    SP Gain on Sale of LT Inv't. Secs.

28.8

3.5

0.4

7.8

36.5

    SP G on sales of subsidiaries and affili

1.3

0.0

-

-

-

    SP Loss on Sales of Fixed Assets

-0.2

0.0

-1.8

-0.2

-0.9

Net Income Before Taxes

185.2

237.2

127.3

100.8

164.1

 

 

 

 

 

 

Provision for Income Taxes

55.6

96.4

33.6

69.2

91.7

Net Income After Taxes

129.6

140.8

93.7

31.6

72.4

 

 

 

 

 

 

    Minority Interest

-4.6

-8.9

-9.4

-8.7

-9.3

Net Income Before Extra. Items

125.0

131.9

84.3

22.9

63.1

Net Income

125.0

131.9

84.3

22.9

63.1

 

 

 

 

 

 

    Director Bonus

-

-

0.0

0.0

0.0

    Rounding Adjustment

-0.1

-0.1

-0.1

-0.1

-0.1

Income Available to Com Excl ExtraOrd

124.9

131.8

84.2

22.8

63.0

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

124.9

131.8

84.2

22.8

63.0

 

 

 

 

 

 

Basic Weighted Average Shares

185.9

186.6

187.6

188.4

188.6

Basic EPS Excluding ExtraOrdinary Items

0.67

0.71

0.45

0.12

0.33

Basic EPS Including ExtraOrdinary Item

0.67

0.71

0.45

0.12

0.33

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

124.9

131.8

84.2

22.8

63.0

Diluted Weighted Average Shares

185.9

186.6

187.6

188.4

188.6

Diluted EPS Excluding ExtraOrd Items

0.67

0.71

0.45

0.12

0.33

Diluted EPS Including ExtraOrd Items

0.67

0.71

0.45

0.12

0.33

DPS-Common Stock

0.13

0.12

0.21

0.20

0.22

Gross Dividends - Common Stock

47.1

43.2

40.1

37.4

40.8

Normalized Income Before Taxes

250.4

269.9

215.0

241.1

224.1

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

75.2

109.7

56.7

119.7

125.3

Normalized Income After Taxes

175.2

160.2

158.2

121.4

98.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

170.5

151.3

148.8

112.6

89.5

 

 

 

 

 

 

Basic Normalized EPS

0.92

0.81

0.79

0.60

0.47

Diluted Normalized EPS

0.92

0.81

0.79

0.60

0.47

Advertising expense (SGA)

99.4

84.8

124.9

142.2

84.5

Rental Expense ( SGA)

92.3

91.6

83.4

74.0

57.7

Amort. of negative goodwill

-

-

0.0

-3.9

0.0

Interest Expense

2.1

2.1

1.9

2.2

2.2

Depreciation

132.4

109.1

97.3

100.2

71.8

Reported Operating Profit

213.2

259.1

204.9

230.8

172.6

Reported Ordinary Profit

220.2

268.1

215.7

255.7

187.6

Service Cost

6.9

6.0

7.7

8.3

7.3

Interest Cost

1.6

1.5

1.5

1.4

1.3

Expected Return on Plan Assets

-0.8

-0.5

-0.4

-0.4

-0.4

Actuarial Gains & Losses

1.7

1.6

1.6

1.3

1.0

Prior Service Cost

-

-

-1.7

-

0.0

Temporary Expensese

1.1

0.4

0.8

3.5

0.8

Domestic Pension Plan Expense

10.6

9.0

9.5

14.1

10.0

Total Pension Expense

10.6

9.0

9.5

14.1

10.0

Discount Rate

2.00%

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return

1.25%

1.25%

1.25%

1.25%

1.25%

 

 

 

Interim Income Statement

As Reported

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

77.685032

76.972151

78.923925

81.970699

82.862258

 

 

 

 

 

 

    Net Sales

583.1

543.3

599.4

572.6

552.1

Total Revenue

583.1

543.3

599.4

572.6

552.1

 

 

 

 

 

 

    Cost of Sales

363.8

318.4

380.7

347.5

354.7

    Labor Expenses

64.9

58.7

51.5

50.2

59.6

    Advertising Expenses

23.4

34.5

19.9

21.9

15.7

    Provision for bonuses

-

-

8.5

5.1

-

    Reserve for officers retirement

0.2

0.2

0.1

0.1

0.2

    Rental Expenses

23.1

22.8

25.1

21.3

21.5

    Other General Expenses

56.0

69.4

62.2

56.5

54.1

    SP G on cancel of insurance contract

-0.8

-

-0.2

-

0.0

    SP G on negative goodwill

0.0

0.0

-

-

-1.0

    SP Other Special Gains

-2.1

-0.3

-0.6

-0.5

-0.2

    SP Impairment Loss

4.4

-

-

1.2

3.9

    SP Loss on Retire. of Fixed Assets

0.6

0.1

0.2

0.0

1.4

    SP Fixed Asset Demolition Cost

0.0

0.0

0.0

0.0

1.8

    SP Loss on Valuation LT Inv't. Secs.

0.4

0.0

0.1

1.9

0.0

    SP Prov. for withdrawal L on fixed asset

1.3

-

0.0

-

-

    SP Compensation for Eviction

3.8

0.0

-

0.7

1.7

    SP Special retirement expenses

3.0

-

-

0.0

0.1

    SP L on adj. for changes of accn. asset

0.0

-

-

37.1

-

    SP Stock purchase expense

-

0.0

-

-

-

    SP Loss on disaster

-

-

1.1

5.9

-

    SP L on cancel. of lease contracts

-

0.4

-

-

-

    SP Other Special Loss

3.4

0.1

0.6

1.4

16.6

    NOP G on valuation of derivatives

-

-

-

-0.4

-

Total Operating Expense

545.3

504.3

549.2

550.1

530.1

 

 

 

 

 

 

    NOP Interest Income

0.2

0.2

0.3

0.2

0.3

    NOP Dividend Income

3.6

0.0

5.5

0.3

3.3

    NOP Equity Earnings

-

0.0

0.8

0.0

0.3

    NOP Foreign Exchange Gains/ Loss

0.2

0.3

-

-

-

    NOP Rev. of Allowance for Doubtful Acc.

-

-

-

0.3

0.4

    NOP Other Non-Operating Income

1.5

0.2

0.4

0.3

0.5

    NOP Interest Expense

-0.6

-0.5

-0.5

-0.5

-0.5

    NOP Loss on Sale of Mkbl.. Secs.

-

-

-

-

0.0

    NOP Equity Losses

-2.1

-1.1

-

-0.2

-

    NOP Loss on Exchange Rate

-

-

-0.5

-

-

    NOP Allowance for Doubtful Acct

-

0.0

-0.2

0.0

-

    NOP Other Non-Operating Expenses

-0.1

-0.1

-0.2

-0.1

-1.3

    SP Gain Sale of Fixed Assets

-

-

-

-

0.2

    SP Gain on Sale of LT Inv't. Secs.

17.4

5.6

3.5

2.6

3.4

Net Income Before Taxes

57.9

43.5

59.3

25.4

28.6

 

 

 

 

 

 

Provision for Income Taxes

0.9

19.4

21.1

14.2

9.0

Net Income After Taxes

57.0

24.2

38.2

11.2

19.6

 

 

 

 

 

 

    Minority Interest

-1.5

-0.9

-2.0

-0.2

-1.9

Net Income Before Extra. Items

55.5

23.2

36.2

11.1

17.7

Net Income

55.5

23.2

36.2

11.1

17.7

 

 

 

 

 

 

    Rounding Adjustment

0.1

-0.1

-0.1

-0.1

0.1

Income Available to Com Excl ExtraOrd

55.6

23.2

36.1

11.0

17.8

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

55.6

23.2

36.1

11.0

17.8

 

 

 

 

 

 

Basic Weighted Average Shares

185.5

185.7

185.9

186.4

186.6

Basic EPS Excluding ExtraOrdinary Items

0.30

0.12

0.19

0.06

0.10

Basic EPS Including ExtraOrdinary Item

0.30

0.12

0.19

0.06

0.10

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

55.6

23.2

36.1

11.0

17.8

Diluted Weighted Average Shares

185.5

185.7

185.9

186.4

186.6

Diluted EPS Excluding ExtraOrd Items

0.30

0.12

0.19

0.06

0.10

Diluted EPS Including ExtraOrd Items

0.30

0.12

0.19

0.06

0.10

DPS-Common Stock

0.06

0.00

0.06

0.00

0.06

Gross Dividends - Common Stock

35.8

0.0

11.8

0.0

33.8

Normalized Income Before Taxes

71.8

45.4

61.9

74.3

52.6

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

1.1

19.5

21.5

40.7

16.5

Normalized Income After Taxes

70.7

25.9

40.4

33.6

36.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

69.2

24.9

38.3

33.3

34.3

 

 

 

 

 

 

Basic Normalized EPS

0.37

0.13

0.21

0.18

0.18

Diluted Normalized EPS

0.37

0.13

0.21

0.18

0.18

Interest Expense

0.6

0.5

0.5

0.5

0.5

Depreciation

34.4

36.0

32.9

29.3

30.1

Amort. of goodwill

-

1.5

1.5

1.4

-

Advertising Expenses

23.4

34.5

19.9

21.9

15.7

Rental Expense

23.1

22.8

25.1

21.3

21.5

Reported Operating Profit

51.7

39.3

51.3

69.9

46.3

Reported Ordinary Profit

53.6

38.2

56.9

70.5

49.3

 

 

 

Annual Balance Sheet

As Reported

 

Financials in: USD (mil) 

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

 

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

80.435452

81.93

88.865

97.845

104.105

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Deposits

132.7

115.6

133.0

102.8

140.8

    Accounts & Notes Receivable, Gross

170.0

179.9

161.4

178.4

181.6

    Lease inv. assets

145.6

117.6

112.6

0.0

-

    Marketable Sec.

77.0

61.0

35.6

25.0

132.7

    Inventories

-

-

-

80.5

88.3

    Inventories - merchandise&finished goods

18.9

21.3

25.1

-

-

    Inventories - work-in-process

24.7

31.3

41.6

-

-

    Inventories - raw materials&supplies

6.3

5.8

5.4

-

-

    Deferred Income Taxes (Current)

32.5

42.9

34.0

21.0

19.6

    Short Term Loans- Repurchase Agrmt.

316.9

305.1

174.4

76.6

40.3

    Other Current Assets

90.6

80.8

102.2

65.6

63.3

    Allow.Doubt.Accounts (Current)

-2.6

-2.7

-1.2

-1.5

-1.2

Total Current Assets

1,012.6

958.6

824.0

548.3

665.4

 

 

 

 

 

 

    Buildings & Structures, Net

1,171.4

1,126.8

1,030.6

1,051.9

947.7

    Machineries, Equip., & Vehicle, Net

46.2

43.5

39.7

28.5

28.1

    Furniture, & Fixtures, Net

30.2

25.1

21.7

19.6

16.4

    Lease Assets, Net

5.9

8.3

9.4

0.0

-

    Land

692.9

677.4

620.1

556.5

358.0

    Construction-In-Progress

17.4

53.8

27.3

25.0

47.7

    Leasehold Rights

12.8

12.5

11.5

10.6

9.9

    Goodwill

64.5

69.0

68.9

67.4

67.9

    Lease assets, intangible

0.3

0.5

0.5

0.0

-

    Other intangible assets

19.8

19.4

18.9

12.9

12.2

    Long-Term Investment in Securities

510.0

634.2

533.3

548.5

754.8

    Inv. Securities.affiliates

119.7

116.6

107.5

-

-

    Long-Term Loans, Gross

8.7

10.1

10.8

10.9

10.6

    Claims Bankruptcy

1.4

1.5

2.6

4.1

4.2

    Deferred Income Taxes (Non-Current)

27.4

12.3

13.9

13.5

15.0

    Guarantee Deposits

197.6

196.4

184.2

187.9

176.0

    Other Assets

66.4

62.1

64.4

79.2

84.6

    Allow.Doubt.Accounts (Non-Current)

-14.6

-10.1

-11.5

-9.7

-7.8

    Adjustment

0.0

-

-

-

-

Total Assets

3,990.6

4,018.0

3,577.6

3,155.2

3,190.6

 

 

 

 

 

 

    Trade Accounts Payable

143.8

145.1

142.1

107.8

120.4

    Short-Term Borrowings

1.7

1.4

1.1

1.0

41.0

    Current Port of LT Debts

6.8

7.5

3.5

8.1

9.5

    Lease liability, current

2.8

2.7

2.4

0.0

-

    Straight Bonds (Current)

-

-

0.0

0.0

96.1

    Other Accounts Payable

39.3

61.9

66.0

55.6

28.6

    Accrued Expenses

53.6

59.4

62.2

99.9

77.5

    Income Taxes Payable

17.8

79.6

27.6

24.4

42.4

    Reserve for Bonuses

10.4

10.5

10.4

9.1

9.0

    Allowance for director Bonuses

0.0

0.1

0.1

0.1

0.1

    Reserve for Asbestos Problem Cnstrctn.

-

-

0.0

0.3

0.5

    Reserve for fixed assets retire. loss

16.8

43.2

39.6

0.0

-

    Provision for PCB disposal

0.0

0.0

0.3

0.0

-

    Res. Compensation on store closure

0.0

7.9

0.0

-

-

    Asset retirement obligations

10.4

0.0

-

-

-

    Reserve for Construction Losses

0.2

0.2

0.0

-

0.0

    Other Long-Term Liabilities

84.6

96.4

93.7

78.9

82.9

Total Current Liabilities

388.3

515.9

449.0

385.1

507.9

 

 

 

 

 

 

    Straight Bonds

124.3

122.1

112.5

102.2

96.1

    Long-Term Borrowings

0.9

7.4

13.4

9.8

8.8

    Lease obligations

4.1

6.7

8.2

0.0

-

Total Long Term Debt

129.4

136.2

134.1

112.0

104.8

 

 

 

 

 

 

    Deferred Tax Liabilities (Non-Current)

102.0

134.5

113.0

86.2

65.3

    Reserve for Retirement Benefit(accrued)

37.3

37.4

44.5

51.9

48.4

    Reserve for Officers' Retirement

3.9

4.5

4.4

4.8

5.7

    Reserve for Asbestos Problem Cnstrctn.

-

-

-

0.0

0.3

    Provision for loss on compensation for t

8.1

0.0

-

-

-

    Reserve for PCB

9.6

9.5

2.1

0.5

0.5

    Noncurrent Guarantee Deposits Rcvd.

288.0

290.7

270.9

250.2

234.9

    Asset retirement obligations

71.1

0.0

-

-

-

    Other Long-Term Liabilities

11.4

13.0

16.2

18.1

16.4

    Minority Interests

264.8

256.5

243.2

219.0

207.4

Total Liabilities

1,313.8

1,398.3

1,277.5

1,127.7

1,191.6

 

 

 

 

 

 

    Common Stock

128.7

126.4

116.5

105.8

99.5

    Capital Surplus

172.0

168.9

155.7

142.1

133.6

    Retained Earning

2,352.4

2,234.8

1,974.2

1,751.1

1,669.1

    Treasury Stock

-64.7

-44.9

-37.9

-15.4

-4.2

    Reserve by Val. of Investment Sec.

75.9

123.6

81.6

34.7

90.1

    Reserve by Valuation of Land

12.5

10.9

10.0

9.1

11.0

    Foreign currency translation adjustment

0.0

0.0

-

-

-

Total Equity

2,676.8

2,619.7

2,300.2

2,027.5

1,999.0

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

3,990.6

4,018.0

3,577.6

3,155.2

3,190.6

 

 

 

 

 

 

    S/O-Common Stock

185.4

186.5

186.8

188.0

188.6

Total Common Shares Outstanding

185.4

186.5

186.8

188.0

188.6

T/S-Common Stock

3.6

2.4

2.2

1.0

0.3

Full-Time Employees

3,171

3,367

3,553

3,598

3,729

Number of Common Shareholders

27,192

29,137

25,827

23,025

19,594

Debts within 1 year

10.5

7.5

3.5

8.1

105.5

Debt from 1 to 2

125.2

31.0

7.2

3.3

6.8

Debt from 2 to 3

0.3

122.9

6.2

6.5

2.0

Debt from 3 to 4

24.7

0.1

0.0

0.0

-

Debt from 4 to 5

0.0

0.1

0.0

102.2

-

Remaining debts

13.8

-

0.0

0.0

96.1

Total Long Term Debt, Supplemental

160.8

161.7

16.9

120.1

210.4

Capital Lease Payments Due within 1 Year

2.8

2.7

2.4

-

-

Capital Lease Payments Due in Year 2

2.9

2.7

2.4

-

-

Capital Lease Payments Due in Year 3

1.2

2.8

2.4

-

-

Capital Lease Payments Due in Year 4

0.1

1.1

2.5

-

-

Capital Lease Payments Due in Year 5

0.0

0.1

0.9

-

-

Capital Leases - Remaining Maturities

0.0

0.0

0.0

-

-

Total Capital Leases

7.0

9.4

10.6

-

-

Pension Obligation

118.8

123.1

119.7

115.8

115.4

Fair Value of Plan Assets

84.1

77.4

65.4

52.0

58.2

Funded Status

-34.7

-45.7

-54.3

-63.8

-57.1

Total Funded Status

-34.7

-45.7

-54.3

-63.8

-57.1

Discount Rate

2.00%

2.00%

2.00%

2.00%

2.00%

Expected Return on Plan Assets

1.25%

1.25%

1.25%

1.25%

1.25%

Unrecognized Actuarial Gains & Losses

6.1

8.9

10.3

12.2

10.0

Unrecognized Prior Service Cost

-

-

-

-

0.0

Prepaid Pension Benefit

8.6

0.7

0.4

0.3

1.2

Accrued Pension Benefit

-37.3

-37.4

-44.5

-51.9

-48.4

Net Assets Recognized on Balance Sheet

-22.6

-27.8

-33.8

-39.4

-37.2

 

 

 

Interim Balance Sheet

As Reported

 

Financials in: USD (mil) 

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

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

80.435452

77.63

76.47

81.24

81.93

 

 

 

 

 

 

    Cash & Deposits

132.7

153.0

151.7

154.3

115.6

    Accounts & Notes Receivable, Gross

170.0

164.0

189.5

177.9

179.9

    Marketable Sec.

77.0

65.3

68.8

56.1

61.0

    Inventories - merchandise&finished goods

18.9

24.0

24.1

22.0

21.3

    Inventories - work-in-process

24.7

34.3

36.8

38.4

31.3

    Inventories - raw materials&supplies

6.3

5.5

5.9

5.4

5.8

    Other

585.6

569.2

565.8

471.4

546.4

    Allowance for doubtful accounts

-2.6

-2.8

-2.9

-2.9

-2.7

Total Current Assets

1,012.6

1,012.7

1,039.8

922.6

958.6

 

 

 

 

 

 

    Buildings & Structures, Net

1,171.4

1,231.4

1,261.9

1,193.3

1,126.8

    Land

692.9

719.6

730.5

687.6

677.4

    Construction-In-Progress

17.4

23.6

44.4

42.6

53.8

    Other, Prop., Plants, & Equip., Net

82.4

90.1

94.7

85.3

76.9

    Goodwill

64.5

68.3

70.9

68.2

69.0

    Other intangible assets

32.9

34.5

35.7

32.9

32.4

    Long-Term Investment in Securities

629.7

629.8

675.8

624.8

750.7

    Other invsetment & assets

301.5

326.2

327.5

311.6

282.4

    Allowance for doubtful accounts

-14.6

-17.0

-11.2

-10.0

-10.1

    Adjustment

0.0

-

-0.1

0.0

-

Total Assets

3,990.6

4,119.2

4,270.0

3,958.9

4,018.0

 

 

 

 

 

 

    Trade Accounts Payable

143.8

138.2

188.7

157.3

145.1

    Short-Term Borrowings

1.7

1.7

1.5

1.5

1.4

    Current Portion of LT Debts

6.8

14.8

14.8

13.7

7.5

    Lease liability, current

2.8

-

-

-

2.7

    Income Taxes Payable

17.8

11.7

36.5

16.1

79.6

    Reserve for Bonuses

10.4

4.5

11.7

15.6

10.5

    Provision for loss on removal of fixed a

16.8

35.5

36.0

33.9

43.2

    Other provision

0.2

8.4

8.5

8.1

8.1

    Asset retirement obligations

10.4

10.0

10.1

9.4

0.0

    Other current liabilities

177.5

287.5

270.9

267.3

217.8

Total Current Liabilities

388.3

512.3

578.7

522.9

515.9

 

 

 

 

 

 

    Straight Bonds

124.3

128.8

130.8

123.1

122.1

    Long-Term Borrowings

0.9

1.0

1.2

1.4

7.4

    Lease obligations

4.1

-

-

-

6.7

Total Long Term Debt

129.4

129.8

131.9

124.4

136.2

 

 

 

 

 

 

    Reserve for Retirement Benefit(accrued)

37.3

40.2

41.2

38.1

37.4

    Reserve for Officers' Retirement

3.9

3.9

3.8

3.4

4.5

    Other provision

9.6

10.3

10.5

9.7

9.5

    Asset retirement obligations

71.1

75.4

76.3

71.6

-

    Other liabilities

409.4

398.9

408.8

389.6

438.1

    Minority Interests

264.8

272.3

277.3

259.0

256.5

Total Liabilities

1,313.8

1,443.1

1,528.5

1,418.8

1,398.3

 

 

 

 

 

 

    Common Stock

128.7

133.4

135.4

127.5

126.4

    Capital Surplus

172.0

178.2

180.9

170.3

168.9

    Retained Surplus

2,352.4

2,381.8

2,406.8

2,230.4

2,234.8

    Treasury Stock

-64.7

-66.3

-58.9

-55.4

-44.9

    Unrealized Gain/Loss on AFS Securities

75.9

37.4

65.6

56.4

123.6

    Foreign currency translation adjustment

0.0

-0.1

-

-

0.0

    Reserve by Valuation of Land

12.5

11.5

11.7

11.0

10.9

Total Equity

2,676.8

2,676.0

2,741.5

2,540.1

2,619.7

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

3,990.6

4,119.2

4,270.0

3,958.9

4,018.0

 

 

 

 

 

 

    S/O-Common Stock

185.4

185.4

185.9

185.9

186.5

Total Common Shares Outstanding

185.4

185.4

185.9

185.9

186.5

T/S-Common Stock

3.6

3.6

3.1

3.1

2.4

Full-Time Employees

3,171

3,187

3,229

3,281

3,367

 

 

 

Annual Cash Flows

As Reported

 

Financials in: USD (mil) 

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

 

 

 

 

29-Feb-2012

28-Feb-2011

28-Feb-2010

28-Feb-2009

29-Feb-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
28-Feb-2011

Updated Normal 
28-Feb-2010

Updated Normal 
28-Feb-2009

Updated Normal 
29-Feb-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

86.457213

93.524123

100.786079

115.64846

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

Net Income before Taxes

185.1

237.1

127.2

100.7

164.0

    Depreciation

132.4

109.1

97.3

100.2

71.8

    Impairment Loss

5.5

3.7

21.7

5.5

11.8

    Reserve for Doubtful Accounts

4.3

-1.0

0.4

1.5

-1.0

    Reserve for Retirement Benefits(accrued)

-0.8

-10.2

-12.3

-0.9

-7.3

    Reversal of Int.& Dividends Received

-10.3

-9.2

-10.5

-14.1

-15.3

    Interest expenses

2.1

2.1

1.9

2.2

2.2

    Equity gain/loss

3.3

-2.0

-2.3

-11.4

0.0

    G/L on Sale of Fixed Assets

0.0

-0.2

-0.7

0.1

-1.4

    Loss on Retirement of Fixed Assets

2.7

3.6

3.4

1.4

5.5

    Gain Sale Investment Secs.

-28.8

-3.5

-0.4

-7.8

-36.5

    Loss Valuation Investment Secs.

2.4

0.2

3.3

131.5

27.7

    (Inc) Dec Accounts Receivable

13.5

-4.6

33.5

18.1

-20.4

    (Inc) Dec Inventories

9.9

18.7

15.7

13.1

17.5

    Inc(Dec) in Acts & Notes Payable

-4.1

-8.6

22.3

-20.7

17.6

    Guaranteed Deposits Made

2.4

3.1

23.4

-0.3

-4.1

    Inc (Dec) Sales Tax Payables

-3.9

-4.1

-0.1

1.4

2.4

    Noncurrent Guarantee Deposits Rcvd.

-15.7

-6.4

-5.4

2.8

-16.3

    Reserve for fixed assets retire. loss

-17.9

0.2

37.7

0.0

-

    Reserve for PCB

-0.1

6.6

0.0

-

-

    Res. Compensation on store closure

0.0

7.5

0.0

-

-

    Loss on adjustment for changes of accoun

38.6

0.0

-

-

-

    Other Operating Activities

-14.5

2.6

-20.2

25.4

-29.0

    Int & Div.Received(Cash Basis)

11.7

10.5

11.8

15.7

15.2

    Interest Paid (Cash Basis)

-2.1

-2.1

-1.9

-2.3

-2.2

    Income Taxes Paid

-137.6

-56.2

-64.3

-90.6

-100.2

    Income tax refund

0.0

28.7

0.0

-

-

    Newly M&A done

-

-

-

0.0

0.9

    Adjustment

-

-

0.0

-

0.0

Cash from Operating Activities

178.2

325.5

281.4

271.5

102.8

 

 

 

 

 

 

    Purchase of Marketable Securities

-15.2

-5.8

0.0

-9.9

0.0

    Sale of Marketable Sec.

30.2

4.7

0.0

109.3

6.5

    Capital Expenditures

-137.3

-160.1

-117.6

-148.4

-177.2

    Sale of PPE

1.2

10.0

8.9

0.7

0.8

    Purchase of Long-Term Inv't in Sec.

-27.3

-30.3

-13.6

-1.3

-132.6

    Purchase of subs.' secs.

-0.9

-6.3

0.0

-6.7

0.0

    Purchase of consolid. subsid.' secs.

-

-

0.0

-60.2

0.0

    Proceeds from sales of stocks of subsidi

8.4

0.0

-

-

-

    Sale of Long-Term Investment in Sec.

73.6

7.2

29.0

25.1

110.4

    Loans Made

-0.1

-0.1

-0.7

-1.5

-2.2

    Loans Collected

1.3

1.9

2.2

3.2

3.1

    Time Deposit Made

-0.2

-0.3

-0.8

-0.8

-0.7

    TimeDeposit Matured

0.3

1.4

0.8

2.9

15.6

    Other Investment Activities

-9.1

-5.1

-6.0

-1.4

0.6

Cash from Investing Activities

-75.1

-182.8

-97.8

-88.9

-175.5

 

 

 

 

 

 

    Net increase (decrease) in short-term lo

0.2

0.2

0.1

-46.4

-1.1

    Proceeds from long-term loans payable

0.2

0.0

5.5

9.1

0.5

    Long-Term Debts, Repaid

-7.8

-3.2

-8.2

-10.5

-15.3

    Bond Redemption

-

-

0.0

-99.2

0.0

    Treasury Stock Purchased

-19.3

-3.5

-23.4

-10.6

-0.6

    Treasury Stock Sold

-

-

-

0.0

0.2

    Dividends Paid

-47.3

-43.3

-40.2

-46.9

-32.6

    Dividends Paid to Minority Shareholders

-4.7

-3.9

-3.8

-4.0

-5.7

    Lease liability, repaid

-2.8

-2.5

-1.4

0.0

-

Cash from Financing Activities

-81.5

-56.2

-71.4

-208.4

-54.5

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.3

-0.3

-0.2

-0.4

Net Change in Cash

21.5

86.1

111.9

-26.0

-127.6

 

 

 

 

 

 

Net Cash - Beginning Balance

471.7

344.4

206.4

217.4

317.0

Net Cash - Ending Balance

493.2

430.5

318.3

191.4

189.4

    Cash Interest Paid

2.1

2.1

1.9

2.3

2.2

    Cash Taxes Paid

137.6

27.5

64.3

90.6

100.2

 

Interim Cash Flows

As Reported

 

Financials in: USD (mil) 

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

 

 

 

 

29-Feb-2012

30-Nov-2011

31-Aug-2011

31-May-2011

28-Feb-2011

Period Length

12 Months

9 Months

6 Months

3 Months

12 Months

UpdateType/Date

Updated Normal 
29-Feb-2012

Updated Normal 
30-Nov-2011

Updated Normal 
31-Aug-2011

Updated Normal 
31-May-2011

Updated Normal 
28-Feb-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.900376

79.301322

80.443027

81.970699

86.457213

 

 

 

 

 

 

Net Income before Taxes

185.1

127.4

84.0

25.4

237.1

    Depreciation

132.4

98.0

62.2

29.3

109.1

    Impairment Loss

5.5

-

-

-

3.7

    Amort. of goodwill

-

4.4

2.9

1.4

-

    Allowance for Doubtful Acct.

4.3

6.2

0.4

0.1

-1.0

    Reserve for Retirement Benefits(accrued)

-0.8

-

-

-

-10.2

    Interest & Dividend Income

-10.3

-6.5

-6.2

-0.5

-9.2

    Interest Expense

2.1

1.6

1.1

0.5

2.1

    Equity gains/losses

3.3

0.5

-0.6

0.2

-2.0

    G/L on Sale of Fixed Assets

0.0

-

-

-

-0.2

    Loss on Retirement of Fixed Assets

2.7

-

-

-

3.6

    G/L on Sale of Investment Securities

-28.8

-

-

-

-3.5

    Loss Valuation Investment Secs.

2.4

2.1

2.0

-

0.2

    (Inc) Dec Accounts Receivable

13.5

25.3

3.1

3.5

-4.6

    (Inc) Dec Inventories

9.9

-2.2

-4.0

-6.8

18.7

    Inc(Dec) in Account & Notes Payable

-4.1

-14.5

31.6

10.9

-8.6

    Inc (dec) in provision for loss property

-

-0.2

-0.2

-

-

    L on adj. for changes of accn. assets

38.6

38.4

37.8

37.1

-

    Guarantee Deposits

2.4

-

-

-

3.1

    Sales Tax Payable

-3.9

-

-

-

-4.1

    Noncurrent Guarantee Deposits Rcvd.

-15.7

-

-

-

-6.4

    Reserve for fixed assets retire. loss

-17.9

-

-

-0.2

0.2

    Reserve for PCB

-0.1

-

-

-

6.6

    Res. Compensation on store closure

0.0

-

-

-

7.5

    Other, net

-14.5

16.5

7.4

26.8

2.6

    Interest & Dividend Received(Cash Basis)

11.7

8.0

6.9

1.2

10.5

    Interest Paid (Cash Basis)

-2.1

-1.3

-1.2

-0.5

-2.1

    Income Taxes Paid

-137.6

-135.9

-85.1

-84.1

-56.2

    Income taxes refund

0.0

0.0

0.0

-

28.7

Cash from Operating Activities

178.2

167.5

142.0

44.4

325.5

 

 

 

 

 

 

    Purchase of Marketable Securities

-15.2

-2.5

-

-

-5.8

    Sale of Marketable Sec.

30.2

22.5

19.1

12.6

4.7

    Capital Expenditures

-137.3

-120.3

-80.4

-52.5

-160.1

    Sale of PPE

1.2

0.5

0.5

0.2

10.0

    Purchase of Long-Term Inv't in Sec.

-27.3

-26.2

-16.4

0.0

-30.3

    Purchase of subs.' securities

-0.9

-0.9

-

-

-6.3

    Proceeds from sales of stocks of subsidi

8.4

-

-

-

-

    Purchase of consolid. subs.' securities

-

-

-0.7

-0.2

-

    Sale of Long-Term Investment in Sec.

73.6

30.4

17.2

8.1

7.2

    Loans Made

-0.1

-0.1

-0.1

0.0

-0.1

    Loans Collected

1.3

1.2

1.1

1.0

1.9

    Time Deposit Made

-0.2

-

-

-

-0.3

    Time Deposit Matured

0.3

-

-

-

1.4

    Other, net

-9.1

-4.1

-4.5

-3.0

-5.1

Cash from Investing Activities

-75.1

-99.4

-64.1

-33.8

-182.8

 

 

 

 

 

 

    Change in Short-Term Debt, Net

0.2

0.2

0.0

0.1

0.2

    Long-Term Debts, Issued

0.2

0.2

0.2

-

0.0

    Long-Term Debts, Repaid

-7.8

-0.2

-0.2

0.0

-3.2

    Treasury Stock Purchased

-19.3

-18.5

-10.3

-10.1

-3.5

    Dividends Paid

-47.3

-46.4

-34.8

-30.7

-43.3

    Dividends Paid to Minority Shareholders

-4.7

-4.7

-2.6

-2.6

-3.9

    Repaid of lease liability

-2.8

-2.1

-1.4

-0.7

-2.5

Cash from Financing Activities

-81.5

-71.4

-49.0

-43.9

-56.2

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.2

-0.5

0.0

-0.3

Net Change in Cash

21.5

-3.4

28.4

-33.3

86.1

 

 

 

 

 

 

Net Cash - Beginning Balance

471.7

469.3

462.7

454.1

344.4

Net Cash - Ending Balance

493.2

465.9

491.1

420.8

430.5

    Cash Interest Paid

2.1

1.3

1.2

0.5

2.1

    Cash Taxes Paid

137.6

135.9

85.1

84.1

27.5

 

 

 

Business Segments

 

Financials in: As Reported (mil)

Annual

 

 

 

External Revenue   USD (mil)

 

29-Feb-12

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

1,419.6

61.8 %

1,484.1

64.5 %

1,353.8

62.8 %

1,325.2

62.6 %

1,095.7

61.8 %

Theaters

161.6

7 %

156.7

6.8 %

147.6

6.8 %

158.2

7.5 %

114.8

6.5 %

Real Estate

702.2

30.5 %

647.8

28.2 %

619.5

28.7 %

595.7

28.1 %

529.4

29.9 %

Other

15.2

0.7 %

12.6

0.5 %

35.7

1.7 %

39.1

1.8 %

33.0

1.9 %

Segment Total

2,298.6

100 %

2,301.1

100 %

2,156.6

100 %

2,118.3

100 %

1,772.9

100 %

Intercompany Eliminations/Other

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

2,298.6

100 %

2,301.1

100 %

2,156.6

100 %

2,118.3

100 %

1,772.9

100 %

Exchange Rate: JPY to USD

78.900376

 

86.457213

 

93.524123

 

100.786079

 

115.648460

 

Intersegment Revenue   USD (mil)

 

29-Feb-12

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

18.7

23.2 %

19.6

25.7 %

20.5

26.6 %

17.0

24.7 %

14.7

21.2 %

Theaters

2.2

2.7 %

2.2

2.9 %

1.8

2.4 %

2.4

3.5 %

2.1

3.1 %

Real Estate

59.5

73.9 %

54.1

70.8 %

53.6

69.7 %

49.3

71.4 %

44.6

64.6 %

Other

0.2

0.2 %

0.5

0.7 %

1.0

1.3 %

0.3

0.5 %

7.7

11.1 %

Segment Total

80.6

100 %

76.4

100 %

77.0

100 %

69.1

100 %

69.1

100 %

Intercompany Eliminations/Other

-80.6

-100 %

-76.4

-100 %

-77.0

-100 %

-69.1

-100 %

-69.1

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: JPY to USD

78.900376

 

86.457213

 

93.524123

 

100.786079

 

115.648460

 

 

Total Revenue   USD (mil)

 

29-Feb-12

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

1,438.2

60.5 %

1,503.7

63.2 %

1,374.3

61.5 %

1,342.3

61.4 %

1,110.3

60.3 %

Theaters

163.8

6.9 %

158.8

6.7 %

149.5

6.7 %

160.6

7.3 %

116.9

6.3 %

Real Estate

761.7

32 %

701.9

29.5 %

673.1

30.1 %

645.0

29.5 %

574.1

31.2 %

Other

15.4

0.6 %

13.2

0.6 %

36.8

1.6 %

39.4

1.8 %

40.7

2.2 %

Segment Total

2,379.1

100 %

2,377.6

100 %

2,233.6

100 %

2,187.3

100 %

1,842.0

100 %

Intercompany Eliminations/Other

-80.6

-3.4 %

-76.4

-3.2 %

-77.0

-3.4 %

-69.1

-3.2 %

-69.1

-3.8 %

Consolidated Total

2,298.6

96.6 %

2,301.1

96.8 %

2,156.6

96.6 %

2,118.3

96.8 %

1,772.9

96.2 %

Exchange Rate: JPY to USD

78.900376

 

86.457213

 

93.524123

 

100.786079

 

115.648460

 

Depreciation   USD (mil)

 

29-Feb-12

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

47.1

34.9 %

29.6

27.9 %

26.8

28.3 %

21.2

21.5 %

15.1

21.3 %

Theaters

1.7

1.2 %

2.4

2.3 %

2.7

2.9 %

4.3

4.4 %

2.2

3.1 %

Real Estate

85.6

63.5 %

73.9

69.6 %

65.1

68.7 %

73.0

74 %

53.4

75.4 %

Other

0.5

0.4 %

0.2

0.2 %

0.1

0.2 %

0.2

0.2 %

0.1

0.1 %

Segment Total

134.9

100 %

106.1

100 %

94.9

100 %

98.7

100 %

70.8

100 %

Intercompany Eliminations/Other

3.4

2.6 %

3.0

2.8 %

2.4

2.6 %

1.5

1.5 %

0.9

1.3 %

Consolidated Total

138.4

102.6 %

109.1

102.8 %

97.3

102.6 %

100.2

101.5 %

71.8

101.3 %

Exchange Rate: JPY to USD

78.900376

 

86.457213

 

93.524123

 

100.786079

 

115.648460

 

 

Total Operating Expense   USD (mil)

 

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

1,335.6

64.3 %

1,262.6

63.6 %

1,210.6

63.1 %

1,023.6

62.5 %

Theaters

145.3

7 %

133.8

6.7 %

138.9

7.2 %

96.3

5.9 %

Real Estate

581.5

28 %

550.7

27.8 %

531.5

27.7 %

478.9

29.2 %

Other

14.6

0.7 %

37.5

1.9 %

38.9

2 %

39.6

2.4 %

Segment Total

2,076.9

100 %

1,984.6

100 %

1,919.9

100 %

1,638.4

100 %

Intercompany Eliminations/Other

-34.9

-1.7 %

-32.8

-1.7 %

-32.4

-1.7 %

-38.0

-2.3 %

Consolidated Total

2,042.0

98.3 %

1,951.8

98.3 %

1,887.5

98.3 %

1,600.3

97.7 %

Exchange Rate: JPY to USD

86.457213

 

93.524123

 

100.786079

 

115.648460

 

Operating Income/Loss   USD (mil)

 

29-Feb-12

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

118.0

45.5 %

168.1

55.9 %

111.7

44.9 %

131.6

49.2 %

86.8

42.6 %

Theaters

14.8

5.7 %

13.6

4.5 %

15.7

6.3 %

21.7

8.1 %

20.6

10.1 %

Real Estate

128.3

49.4 %

120.5

40.1 %

122.4

49.1 %

113.5

42.4 %

95.2

46.7 %

Other

-1.6

-0.6 %

-1.4

-0.5 %

-0.7

-0.3 %

0.6

0.2 %

1.0

0.5 %

Segment Total

259.6

100 %

300.7

100 %

249.1

100 %

267.4

100 %

203.6

100 %

Intercompany Eliminations/Other

-46.4

-17.9 %

-41.5

-13.8 %

-44.2

-17.7 %

-36.6

-13.7 %

-31.1

-15.3 %

Consolidated Total

213.2

82.1 %

259.1

86.2 %

204.9

82.3 %

230.8

86.3 %

172.6

84.7 %

Exchange Rate: JPY to USD

78.900376

 

86.457213

 

93.524123

 

100.786079

 

115.648460

 

 

Operating Margin (%)  

 

29-Feb-12

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

8.2

-

11.2

-

8.1

-

9.8

-

7.8

-

Theaters

9.0

-

8.5

-

10.5

-

13.5

-

17.6

-

Real Estate

16.8

-

17.2

-

18.2

-

17.6

-

16.6

-

Other

-10.4

-

-10.7

-

-1.9

-

1.4

-

2.6

-

Segment Total

10.9

-

12.6

-

11.2

-

12.2

-

11.1

-

Intercompany Eliminations/Other

57.6

-

54.4

-

57.4

-

53.0

-

45.0

-

Consolidated Total

9.3

-

11.3

-

9.5

-

10.9

-

9.7

-

Total Assets   USD (mil)

 

29-Feb-12

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

825.6

24.7 %

712.6

23.3 %

672.9

23.7 %

597.9

22.2 %

657.5

26.5 %

Theaters

288.7

8.6 %

270.4

8.9 %

256.0

9 %

246.0

9.2 %

88.8

3.6 %

Real Estate

2,223.5

66.4 %

2,058.9

67.4 %

1,889.8

66.5 %

1,818.8

67.6 %

1,695.3

68.4 %

Other

11.3

0.3 %

12.5

0.4 %

23.7

0.8 %

26.1

1 %

35.5

1.4 %

Segment Total

3,349.1

100 %

3,054.4

100 %

2,842.4

100 %

2,688.8

100 %

2,477.1

100 %

Intercompany Eliminations/Other

641.7

19.2 %

963.7

31.6 %

735.3

25.9 %

466.5

17.4 %

713.6

28.8 %

Consolidated Total

3,990.8

119.2 %

4,018.1

131.6 %

3,577.7

125.9 %

3,155.3

117.4 %

3,190.7

128.8 %

Exchange Rate: JPY to USD

80.435452

 

81.930000

 

88.865000

 

97.845000

 

104.105000

 

 

Operating Return on Assets (%)  

 

29-Feb-12

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

14.0

-

24.9

-

17.5

-

22.7

-

14.7

-

Theaters

5.0

-

5.3

-

6.4

-

9.1

-

25.8

-

Real Estate

5.7

-

6.2

-

6.8

-

6.4

-

6.2

-

Other

-13.8

-

-11.9

-

-3.2

-

2.2

-

3.3

-

Segment Total

7.6

-

10.4

-

9.2

-

10.2

-

9.1

-

Intercompany Eliminations/Other

-7.1

-

-4.5

-

-6.3

-

-8.1

-

-4.8

-

Consolidated Total

5.2

-

6.8

-

6.0

-

7.5

-

6.0

-

Purchase of Fixed Assets   USD (mil)

 

29-Feb-12

28-Feb-11

28-Feb-10

28-Feb-09

29-Feb-08

Movies

72.7

42.7 %

36.8

26 %

43.1

36.9 %

51.6

30.3 %

39.0

22.8 %

Theaters

0.9

0.5 %

0.4

0.3 %

0.4

0.3 %

1.1

0.6 %

8.1

4.7 %

Real Estate

96.8

56.8 %

103.2

72.8 %

73.3

62.7 %

117.5

69 %

123.6

72.3 %

Other

0.0

0 %

1.3

0.9 %

0.1

0.1 %

0.1

0.1 %

0.3

0.2 %

Segment Total

170.4

100 %

141.7

100 %

116.8

100 %

170.3

100 %

171.1

100 %

Intercompany Eliminations/Other

1.9

1.1 %

1.0

0.7 %

5.9

5 %

1.2

0.7 %

2.5

1.4 %

Consolidated Total

172.3

101.1 %

142.7

100.7 %

122.6

105 %

171.5

100.7 %

173.5

101.4 %

Exchange Rate: JPY to USD

78.900376

 

86.457213

 

93.524123

 

100.786079

 

115.648460

 

 

 

Business Segments

Financials in: As Reported (mil)

 

Interim

 

 

External Revenue   USD (mil)

 

29-Feb-12

30-Nov-11

31-Aug-11

31-May-11

28-Feb-11

Movies

349.3

59.9 %

321.6

59.2 %

397.2

66.3 %

351.0

61.3 %

331.6

60.1 %

Theaters

46.8

8 %

44.2

8.1 %

31.3

5.2 %

39.6

6.9 %

44.4

8 %

Real Estate

183.3

31.4 %

173.6

31.9 %

167.0

27.9 %

178.4

31.2 %

172.8

31.3 %

Other

3.7

0.6 %

4.0

0.7 %

3.9

0.7 %

3.5

0.6 %

3.4

0.6 %

Segment Total

583.1

100 %

543.3

100 %

599.4

100 %

572.6

100 %

552.1

100 %

Intercompany Eliminations/Other

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

583.1

100 %

543.3

100 %

599.4

100 %

572.6

100 %

552.1

100 %

Exchange Rate: JPY to USD

77.685032

 

76.972151

 

78.923925

 

81.970699

 

82.862258

 

Intersegment Revenue   USD (mil)

 

29-Feb-12

30-Nov-11

31-Aug-11

31-May-11

28-Feb-11

Movies

4.5

21.9 %

4.9

24 %

4.8

23.3 %

4.5

23.4 %

5.5

26.7 %

Theaters

0.5

2.3 %

0.3

1.5 %

0.7

3.4 %

0.7

3.6 %

0.4

2.2 %

Real Estate

15.5

75.5 %

15.1

74.3 %

14.9

73 %

14.1

72.8 %

14.5

70.3 %

Other

0.1

0.3 %

0.0

0.1 %

0.1

0.2 %

0.0

0.3 %

0.2

0.8 %

Segment Total

20.6

100 %

20.3

100 %

20.3

100 %

19.3

100 %

20.6

100 %

Intercompany Eliminations/Other

-20.6

-100 %

-20.3

-100 %

-20.3

-100 %

-19.3

-100 %

-20.6

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: JPY to USD

77.685032

 

76.972151

 

78.923925

 

81.970699

 

82.862258

 

 

Total Revenue   USD (mil)

 

29-Feb-12

30-Nov-11

31-Aug-11

31-May-11

28-Feb-11

Movies

353.8

58.6 %

326.5

57.9 %

401.9

64.9 %

355.5

60.1 %

337.0

58.9 %

Theaters

47.3

7.8 %

44.5

7.9 %

32.0

5.2 %

40.3

6.8 %

44.8

7.8 %

Real Estate

198.8

32.9 %

188.7

33.5 %

181.9

29.3 %

192.5

32.5 %

187.2

32.7 %

Other

3.8

0.6 %

4.0

0.7 %

4.0

0.6 %

3.6

0.6 %

3.6

0.6 %

Segment Total

603.7

100 %

563.7

100 %

619.7

100 %

591.9

100 %

572.7

100 %

Intercompany Eliminations/Other

-20.6

-3.4 %

-20.3

-3.6 %

-20.3

-3.3 %

-19.3

-3.3 %

-20.6

-3.6 %

Consolidated Total

583.1

96.6 %

543.3

96.4 %

599.4

96.7 %

572.6

96.7 %

552.1

96.4 %

Exchange Rate: JPY to USD

77.685032

 

76.972151

 

78.923925

 

81.970699

 

82.862258

 

Operating Income/Loss   USD (mil)

 

29-Feb-12

30-Nov-11

31-Aug-11

31-May-11

28-Feb-11

Movies

25.9

40.8 %

15.4

29.7 %

32.8

52.3 %

43.0

53.4 %

23.9

41.7 %

Theaters

7.3

11.5 %

3.5

6.7 %

2.3

3.7 %

1.8

2.2 %

4.4

7.6 %

Real Estate

30.8

48.6 %

33.3

63.9 %

27.9

44.5 %

36.2

45 %

30.0

52.3 %

Other

-0.6

-0.9 %

-0.2

-0.4 %

-0.3

-0.5 %

-0.5

-0.6 %

-0.9

-1.5 %

Segment Total

63.5

100 %

52.0

100 %

62.7

100 %

80.5

100 %

57.4

100 %

Intercompany Eliminations/Other

-11.7

-18.5 %

-12.7

-24.5 %

-11.4

-18.1 %

-10.6

-13.2 %

-11.1

-19.3 %

Consolidated Total

51.7

81.5 %

39.3

75.5 %

51.3

81.9 %

69.9

86.8 %

46.3

80.7 %

Exchange Rate: JPY to USD

77.685032

 

76.972151

 

78.923925

 

81.970699

 

82.862258

 

 

Operating Margin (%)  

 

29-Feb-12

30-Nov-11

31-Aug-11

31-May-11

28-Feb-11

Movies

7.3

-

4.7

-

8.2

-

12.1

-

7.1

-

Theaters

15.5

-

7.9

-

7.3

-

4.4

-

9.7

-

Real Estate

15.5

-

17.6

-

15.3

-

18.8

-

16.0

-

Other

-15.6

-

-4.8

-

-8.6

-

-13.0

-

-24.2

-

Segment Total

10.5

-

9.2

-

10.1

-

13.6

-

10.0

-

Intercompany Eliminations/Other

56.9

-

62.6

-

55.9

-

54.9

-

53.8

-

Consolidated Total

8.9

-

7.2

-

8.6

-

12.2

-

8.4

-


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.02

UK Pound

1

Rs.86.89

Euro

1

Rs.67.84

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

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

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