MIRA INFORM REPORT

 

 

Report Date :

20.06.2012

 

IDENTIFICATION DETAILS

 

Name :

JAPAN RADIO CO., LTD.

 

 

Registered Office :

Fujisawa Bldg. 4-30-16, Ogikubo, Suginami-ku  Tokyo, 167-8540

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

01.10.1949

 

 

Legal Form :

Public Subsidiary

 

 

Line of Business :

Manufacture and sale of wireless communication equipment.

 

 

No. of Employees :

3,766

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

--

 

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 and address

 

Top of Form

Bottom of Form

Japan Radio Co., Ltd.

                                                                                                                                                  

 

Fujisawa Bldg.

4-30-16, Ogikubo, Suginami-ku

 

Tokyo, 167-8540

Japan

 

Tel:

81-3-68321721

Fax:

81-3-68321844

 

www.jrc.co.jp

 

Employees:

3,766

Company Type:

Public Subsidiary

Corporate Family:

41 Companies

Ultimate Parent:

Nisshinbo Holdings Inc.

Traded:

Tokyo Stock Exchange:

6751

Incorporation Date:

01-Oct-1949

Auditor:

Deloitte & Touche LLP

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Mar-2012

Reporting Currency:

Japanese Yen

Annual Sales:

1,264.8  1

Net Income:

(23.3)

Total Assets:

1,152.5  2

Market Value:

258.7

 

(01-Jun-2012)

                                         

Business Description          

 

Japan Radio Co., Ltd. is a Japan-based company mainly engaged in the manufacture and sale of wireless communication equipment. The Company manufactures and sells the wireless communications devices, wireless application appliances, electronic application appliances and electronic components, as well as provides installment and maintenance services and logistics management services for equipment and components. The Company’s main products include the marine equipment such as maritime satellite communication equipment, shipboard communication equipment, shipboard radars and fishing equipment; the communication equipment such as transmitting amplifier devices, subscriber radio devices and wireless phone devices, as well as the solutions and special equipment such as broadcasting systems, water and river information systems and road information systems. As of March 31, 2011, the Company had 12 subsidiaries and four associated companies. For the six months ended 30 September 2011, Japan RadioCo., Ltd.'s revenues decreased 9% to Y34.16B. The Company's net loss increased 12% to Y3.18B. Revenues reflect lower sales mainly from communication equipment business. The Company's net loss suffered from higher percentage of cost of sales and selling, general and administrative expense, as well as the absence of gain on reversal allowance for doubtful account.

          

Industry                                                                                                                                      

 

Industry

Miscellaneous Fabricated Products

ANZSIC 2006:

2149 - Other Basic Non-Ferrous Metal Product Manufacturing

NACE 2002:

2745 - Other non-ferrous metal production

NAICS 2002:

335929 - Other Communication and Energy Wire Manufacturing

UK SIC 2003:

2745 - Other non-ferrous metal production

US SIC 1987:

3357 - Drawing and Insulating of Nonferrous Wire

                      

Key Executives           

   

 

Name

Title

Takayoshi Tsuchida

President, Representative Director

Kenji Ara

 

Kouichi Okajima

Senior Managing Director

Yoshio Nakatsuchi

Co-Auditor

Daisaku Yamane

Executive Officer

 

Significant Developments                                     

 

Topic

#*

Most Recent Headline

Date

Negative Earnings Pre-Announcement

1

Japan Radio Co., Ltd. Lowers Consolidated Full-year Outlook and Amends Year-end Dividend Forecast for FY 2012

3-Feb-2012

Officer Changes

1

Japan Radio Co., Ltd. Appoints Chairman

29-Mar-2012

Other Earnings Pre-Announcement

1

Japan Radio Co., Ltd. Amends Full-year Consolidated Outlook for FY Ended March 31, 2012

27-Apr-2012

Positive Earnings Pre-Announcement

1

Japan Radio Co., Ltd. Affirms Consolidated Mid-year Forecast for FY 2012; Raised Consolidated Full-year Forecast for Net Profit for FY 2012; Expects Extraordinary Profit for FY 2012; to Sell Property

30-Sep-2011

Debt Ratings

2

R&I Places Japan Radio Co., Ltd. on Rating Monitor with View to Downgrading

26-Sep-2011

* number of significant developments within the last 12 months

 

             

News      

 

Title

Date

Tokyo Stock Exchange: closing price list -3-
Japan Economic Newswire (247 Words)

15-Jun-2012

Tokyo Stock Exchange: morning price list -3-
Japan Economic Newswire (244 Words)

14-Jun-2012

Tokyo Stock Exchange: closing price list -3-
Japan Economic Newswire (245 Words)

14-Jun-2012

Tokyo Stock Exchange: morning price list -3-
Japan Economic Newswire (246 Words)

13-Jun-2012

Tokyo Stock Exchange: morning price list -3-
Japan Economic Newswire (246 Words)

6-Jun-2012

 

Financial Summary                                              

 

As of 31-Mar-2012

Key Ratios

Company

Industry

Current Ratio (MRQ)

1.99

3.07

Quick Ratio (MRQ)

1.35

2.60

Debt to Equity (MRQ)

0.11

0.27

Sales 5 Year Growth

-4.64

14.13

Net Profit Margin (TTM) %

-1.83

17.97

Return on Assets (TTM) %

-1.71

7.97

Return on Equity (TTM) %

-4.31

14.12

 

 

 

Stock Snapshot                                        

 

Traded: Tokyo Stock Exchange: 6751

 

As of 1-Jun-2012

   Financials in: JPY

Recent Price

147.00

 

EPS

-15.51

52 Week High

245.00

 

Price/Sales

0.20

52 Week Low

146.00

 

Price/Book

0.49

Avg. Volume (mil)

0.20

 

Beta

1.49

Market Value (mil)

20,282.57

 

 

 

 

Price % Change

Rel S&P 500%

4 Week

-25.76%

-16.97%

13 Week

-27.94%

-14.84%

52 Week

-30.66%

-19.23%

Year to Date

-16.00%

-13.67%

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536


Corporate Overview

 

Location
Fujisawa Bldg.
4-30-16, Ogikubo, Suginami-ku
Tokyo, 167-8540
Japan

 

Tel:

81-3-68321721

Fax:

81-3-68321844

 

www.jrc.co.jp

Quote Symbol - Exchange

6751 - Tokyo Stock Exchange

Sales JPY(mil):

99,871.0

Assets JPY(mil):

94,946.0

Employees:

3,766

Fiscal Year End:

31-Mar-2012

 

Industry:

Miscellaneous Fabricated Products

Incorporation Date:

01-Oct-1949

Company Type:

Public Subsidiary

Quoted Status:

Quoted

 

President, Representative Director:

Takayoshi Tsuchida

 

Company Web Links

Corporate History/Profile

Home Page

 

Investor Relations

News Releases

 

Products/Services

Contents

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Subsidiaries

Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

5610

-

Radio Broadcasting

2149

-

Other Basic Non-Ferrous Metal Product Manufacturing

2429

-

Other Electronic Equipment Manufacturing

5809

-

Other Telecommunications Services

2412

-

Medical and Surgical Equipment Manufacturing

5802

-

Other Telecommunications Network Operation

 

NACE 2002 Codes:

3210

-

Manufacture of electronic valves and tubes and other electronic components

2745

-

Other non-ferrous metal production

3310

-

Manufacture of medical and surgical equipment and orthopaedic appliances

6420

-

Telecommunications

 

NAICS 2002 Codes:

517410

-

Satellite Telecommunications

334510

-

Electromedical and Electrotherapeutic Apparatus Manufacturing

334413

-

Semiconductor and Related Device Manufacturing

515112

-

Radio Stations

334411

-

Electron Tube Manufacturing

517212

-

Cellular and Other Wireless Telecommunications

335929

-

Other Communication and Energy Wire Manufacturing

 

US SIC 1987:

3357

-

Drawing and Insulating of Nonferrous Wire

4812

-

Radiotelephone Communications

3845

-

Electromedical and Electrotherapeutic Apparatus

4899

-

Communications Services, Not Elsewhere Classified

4832

-

Radio Broadcasting Stations

3674

-

Semiconductors and Related Devices

3671

-

Electron Tubes

 

UK SIC 2003:

3310

-

Manufacture of medical and surgical equipment and orthopaedic appliances

3210

-

Manufacture of electronic valves and tubes and other electronic components

6420

-

Telecommunications

2745

-

Other non-ferrous metal production

 

 

Business Description

Japan Radio Co., Ltd. is a Japan-based company mainly engaged in the manufacture and sale of wireless communication equipment. The Company manufactures and sells the wireless communications devices, wireless application appliances, electronic application appliances and electronic components, as well as provides installment and maintenance services and logistics management services for equipment and components. The Company’s main products include the marine equipment such as maritime satellite communication equipment, shipboard communication equipment, shipboard radars and fishing equipment; the communication equipment such as transmitting amplifier devices, subscriber radio devices and wireless phone devices, as well as the solutions and special equipment such as broadcasting systems, water and river information systems and road information systems. As of March 31, 2011, the Company had 12 subsidiaries and four associated companies. For the six months ended 30 September 2011, Japan RadioCo., Ltd.'s revenues decreased 9% to Y34.16B. The Company's net loss increased 12% to Y3.18B. Revenues reflect lower sales mainly from communication equipment business. The Company's net loss suffered from higher percentage of cost of sales and selling, general and administrative expense, as well as the absence of gain on reversal allowance for doubtful account.

 

 

More Business Descriptions

Manufacture and sale of telecommunication equipment, radio-applied equipment, marine electronics, computer-based systems, etc

 

Radio Communications Equipment & Information Technology Products Mfr

 

Japan Radio Co., Ltd. (JRC) provides radio telecommunications equipment to its clients across the world. The company manufactures and sells wireless appliances, radio communication devices and electronic components through its respective business lines. Besides, it provides maintenance and installation services for its components and equipments. JRC manufactures its products under three categories, namely, Communication Equipment, Marine Electronics and System Electronics.Communications Equipment segment products are classified into four broad categories, namely, Mobile Communications, Telecommunications, Measuring and Testing, and Electronic Devices. Mobile Communication devices include personal handy-phone system (PHS), land mobile/micro GPS receivers, GPS-based automatic vehicle location systems, trunked radio base stations, business radiotelephones, small-power UHF/FM transceivers, linear Power amplifier for cellular base station and very-small-aperture terminal (VSAT (ODU)). Telecommunications devices offered by the company include wireless local area network (LAN) adapters and 26GHz P-MP wireless IP access system. Under Measurement & Testing devices JRC offers measuring equipment for mobile communications, reinforced concrete radar and subsurface radar. Electronics Devices offered include surface acoustic wave (SAW) Filters.Marine Electronics segment offers equipment related to Marine Communication, Marine Navigation, Fishing and Marine Farming and Leisure. Marine Communication products include Inmarsat ship earth stations, merchant ship radiotelephone equipment, fishing vessel radiotelephone equipment, global maritime distress and safety system (GMDSS) radio communications equipment, VHF/UHF radiotelephone equipment, coast station radiotelephone equipment, weather/Inmarsat facsimile equipment, marine public addressers and automatic identification system (AIS). Marine Navigation products manufactured by the company include integrated bridge systems (IBS), total navigators, marine radars, automatic radar plotting aid (ARPA ) units, electronic chart display and information system (ECDIS), GPS/DGPS navigators, port/fishing ground surveillance radars, berthing aid equipment, ship handling simulators, radar simulators and voyage data recorder (VDR). Under Fishing and Marine Farming equipment, JRC provides color plotters, Doppler sounders, Doppler current meters, oceanographic color displays, echo sounders/fishing finders, color scanning sonars and marine farming support systems. Besides, under the segment, the company manufactures pleasure fish finders, GPS/DGPS navigators and compact-type radars.System Electronics product segment product offerings include water and river management, electro-acoustic systems, disaster prevention information, broadcast, road and traffic management, meteorological information, seaport/airport management and simulation, and other related products. Water and River Management products can be classified as rainfall/water-level/water-quality telemetry, river information systems, dam/water-channel control systems and dam discharge warning systems. Under Disaster Prevention Information systems, the company offers flood warning & forecasting systems, environment monitoring systems, debris/mud flow warning systems earthquake information systems, volcano monitoring system and the landslide monitoring system by GPS. Through Road and Traffic Management systems, JRC offers road information systems, automatic supervising & control systems, tunnel remote supervision systems and tunnel radio re-broadcasting systems. Meteorological Information systems include meteorological radar equipment, Doppler radar equipment, radar rain-gauge systems and agricultural weather information systems. The company offers various systems that are used in Seaport/Airport management. Some of its products include port information management systems, radar-based berthing aid systems, airport surveillance radar systems, airfield approach control simulators, air traffic control simulators, terminal approach trainers, air navigation aids trainers, GMDSS simulators. vessel traffic management systems and ship handling simulators. JRC's Electro-Acoustic Systems can be classified as simultaneous interpretation systems, guidance systems, conference hall sound systems and long-time voice recorders. It also offers various Broadcast equipment used in TV and radio such as TV translators and community broadcasting equipment. Besides, the company offers Other products in the System Electronics segment such as building management systems, optical image transmission systems, multiplex radio communications equipment, resilient packet ring IP switch, satellite earth stations, rural radio communications systems, GMDSS-based coast station systems, ground-to-air/point-to-point/marine HF transmitters and automatic vehicle location/management systems. The company operates its sales network in Japan, Indonesia, Taiwan, Singapore, Vietnam, the US and Germany, China and Brazil. Some of its key subsidiaries include JRC Engineering Co., Ltd.; JRC Tokki Co., Ltd.; Musashino Electronics Co., Ltd; Japan Radio Glass Co., Ltd.; and Sougou Business Service Co., Ltd.In April 2011, JRC declared commercial operation of its new subsidiary, JRC (Shanghai) Co., Ltd. in Shanghai. The new subsidiary is aimed to provide better services by working closely with the local customers to improve customer satisfaction.

 

Japan Radio Co., Ltd. (JRC) is a Japan-based technology equipment manufacturing company. The company engages in manufacturing and selling radio communications equipment. Its products find application in marine, land and other communication systems. The company manufactures its products in three broad categories, namely, Communication Equipment, System Electronics and Marine Electronics. Under communication equipment, JRC offers mobile communications, telecommunications, measuring and testing, and electronic devices. Marine Electronic products offered by the company include equipment for marine communication, marine navigation, fishing and marine farming and leisure. System Electronics products are classified under water and river management, electro-acoustic systems, disaster prevention information, broadcast, road and traffic management, meteorological information, seaport/airport management and simulation, and other related products. JRC sells its products in Japan, Indonesia, Taiwan, Singapore, Vietnam, the US and Germany, China and Brazil. The company is headquartered in Tokyo, Japan.The company reported revenues of (Yen) JPY 107,705.00 million during the fiscal year ended March 2011, a decrease of 3.15% from 2010. The operating profit of the company was JPY 884.00 million during the fiscal year 2011, a decrease of 66.39% from 2010. The net profit of the company was JPY 1,927.00 million during the fiscal year 2011, a decrease of 17.19% from 2010.

 

Radio and Television Broadcasting and Wireless Communications Equipment Mfg

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

JPY(mil)

 

Revenue:

99,871.0

Net Income:

-1,840.0

Assets:

94,946.0

Long Term Debt:

1,249.0

 

Total Liabilities:

53,912.0

 

Working Capital:

88.8

 

 

 

Date of Financial Data:

31-Mar-2012

 

1 Year Growth

-7.3%

NA

-19.9%

 

Market Data

Quote Symbol:

6751

Exchange:

Tokyo Stock Exchange

Currency:

JPY

Stock Price:

147.0

Stock Price Date:

06-01-2012

52 Week Price Change %:

-30.7

Market Value (mil):

20,282,570.0

 

SEDOL:

6470748

ISIN:

JP3751800008

 

Equity and Dept Distribution:

FY'08 Q1 WAS O/S were estimated.

 

 

Subsidiaries

Company

Percentage Owned

Country

Musashino Electronics Co Ltd

100%

JAPAN

JRC Engineering Co Ltd

100%

JAPAN

JRC (HK) Ltd

 

HONG KONG SAR

JRC do Brasil Empreendimentos Electronicos Ltda

 

BRAZIL

JRC Tokki Co Ltd

100%

JAPAN

Japan Radio Glass Co Ltd

100%

JAPAN

Sougou Business Service Co Ltd

100%

JAPAN

 

 

 

 

Shareholders

 

 

Major Shareholders

Nisshinbo Industries Co Ltd (64.29%)

 

 

 

 

Key Corporate Relationships

Auditor:

Deloitte & Touche LLP

 

Auditor:

Deloitte & Touche LLP, Deloitte Touche Tohmatsu

 

 

 

 

 

 

 

 

 

The Strategic Initiatives report is created using technology to extract meaningful insights from analyst reports about a company's strategic projects and investments. More about Strategic Initiatives

 

Strategic Initiatives

 

Partnerships

In response, we will move swiftly to address the procurement situation and implement a dynamic action plan. On December 29, 2010, Nisshinbo Holdings Inc. became the parent company of JRC. Going forward, we will increase collaboration in many business areas, including the environmental and energy-saving sectors. Drawing on opportunities for enhanced synergies, both JRC and Nisshinbo Holdings will work toward achieving strong growth and enhancing the corporate value of their respective corporate entities.GlobalData uses a range of research techniques to gather and verify its information and analysis. These include primary research, in-house knowledge and expertise, proprietary databases, and secondary sources such as company websites, annual reports, SEC filings and press releases.
Source: GlobalData, May 14, 2012

 

 

 

Corporate Structure News

 

Total Corporate Family Members: 41

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Nisshinbo Holdings Inc.

Parent

Tokyo

Japan

Apparel and Accessories

4,804.1

18,292

Acquisition of TMD Friction GmbH proposed/announced.See corporate structure news on Nisshinbo Holdings Inc. for details

Japan Radio Co., Ltd.

Subsidiary

Tokyo

Japan

Miscellaneous Fabricated Products

1,264.8

3,766

 

NAGANO JAPAN RADIO CO., LTD.

Subsidiary

Nagano-Shi

Japan

Communications Equipment

362.5

2,010

 

Nagano Japan Radio Company (Hk) Limited

Subsidiary

Sheung Shui, New Territories

Hong Kong

Electronic Instruments and Controls

40.0

 

 

Ueda Japan Radio Co Ltd

Subsidiary

Nagano

Japan

Communications Equipment

149.3

660

 

JRC Tokki Co Ltd

Subsidiary

Yokohama, Kanagawa Pref

Japan

Aerospace and Defense

1.0

337

 

Musashino Electric Co., Ltd.

Subsidiary

Mitaka

Japan

Medical Equipment and Supplies

 

200

 

Musashino Electronics Co Ltd

Subsidiary

Tokyo

Japan

Aerospace and Defense

 

183

 

JRC Engineering Co Ltd

Subsidiary

Tokyo

Japan

Computer Services

24.2

154

 

Nihonmusen Glass Co., Ltd.

Subsidiary

Saitama

Japan

Personal and Household Products

 

150

 

Sougou Business Service Co Ltd

Subsidiary

Tokyo

Japan

Electronic Instruments and Controls

 

95

 

Japan Radio Glass Co Ltd

Subsidiary

Saitama

Japan

Personal and Household Products

136.1

63

 

Japan Radio Company (Hk) Limited

Subsidiary

Central District, Hong Kong

Hong Kong

Electronic Instruments and Controls

3.7

3

 

New Japan Radio Co., Ltd.

Subsidiary

Tokyo

Japan

Semiconductors

510.0

3,116

 

Saga Electronics Co. Ltd.

Subsidiary

Tokyo, Nihonbashi Chuo-ku

Japan

Semiconductors

 

443

 

NJR (Singapore) Pte Ltd.

Subsidiary

Singapore

Singapore

Electronic Instruments and Controls

 

100

 

NJR Corporation

Subsidiary

San Jose, CA

United States

Semiconductors

6.3

20

 

NJR Trading Co. Ltd.

Subsidiary

Tokyo

Japan

Electronic Instruments and Controls

 

20

 

NJR Fukuoka Co. Ltd.

Subsidiary

Fukuoka

Japan

Semiconductors

 

 

 

TMD Friction GmbH

Subsidiary

Leverkusen, Nordrhein-Westfalen

Germany

Auto and Truck Parts

344.0

720

 

Acquisition by Nisshinbo Holdings Inc. proposed/announced.See corporate structure news on Nisshinbo Holdings Inc. for details

TMD Friction do Brasil S.A .

Subsidiary

Indaiatuba, SP

Brazil

Auto and Truck Parts

 

600

 

TMD Friction Europe GmbH

Subsidiary

 

 

 

 

 

 

Tmd Friction UK Ltd.

Subsidiary

Cleckheaton

United Kingdom

Auto and Truck Parts

125.2

515

 

Eurofriction Ltd.

Subsidiary

Kilmarnock

United Kingdom

Auto and Truck Parts

19.2

156

 

Ribbonpark Ltd.

Subsidiary

Cleckheaton

United Kingdom

Auto and Truck Parts

 

 

 

Nisshinbo Do Brasil Industria Textil Ltda.

Subsidiary

Sao Paulo

Brazil

Apparel and Accessories

 

500

 

Nisshinbo Somboon Automotive Co. Ltd.

Subsidiary

Rayong

Thailand

Auto and Truck Parts

 

356

 

Saeron Automotive Corp

Subsidiary

Cheonan

Korea, Republic of

Auto and Truck Parts

147.2

317

 

Nisshinbo Automotive Manufacturing Inc.

Subsidiary

Covington, GA

United States

Auto and Truck Parts

38.8

230

 

Choya Corp.

Subsidiary

Tokyo

Japan

Apparel and Accessories

113.8

157

 

Koyama Choya Sewing Co.,Ltd.

Subsidiary

Kimotsuki-Gun, Kagoshima

Japan

Apparel and Accessories

11.7

 

 

Nisshinbo Postal Chemical Co. Ltd.

Subsidiary

Tokyo

Japan

Chemical Manufacturing

 

136

 

Nisshin Toa Inc.

Subsidiary

Tokyo

Japan

Textiles - Non Apparel

1.0

80

 

Nisshinbo Automotive Corporation

Subsidiary

Sterling Heights, MI

United States

Auto and Truck Parts

1.3

15

 

Nippon Kohbunshi Co. Ltd.

Subsidiary

Tokyo

Japan

Fabricated Plastic and Rubber

 

 

 

Aries Co. Ltd.

Subsidiary

Taipei

Taiwan

Rental and Leasing

 

 

 

Nisshinbo Mobix Co. Ltd.

Subsidiary

Wakayama

Japan

Textiles - Non Apparel

 

 

 

Nisshinbo Yarn Dyed Co. Ltd.

Subsidiary

Ichinomiya

Japan

Apparel and Accessories

 

 

 

Nisshinbo Brake Sales Co. Ltd.

Subsidiary

Tokyo

Japan

Auto and Truck Parts

 

 

 

P.T. Gistex Nisshinbo Indonesia

Subsidiary

Bandung

Indonesia

Apparel and Accessories

 

 

 

P.T. Nikawa Textile Industry

Subsidiary

Jakarta

Indonesia

Textiles - Non Apparel

 

 

 

 

 

 

Competitors Report

 

CompanyName

Location

Employees

Ownership

Kyosan Electric Manufacturing Co., Ltd.

Yokohama-Shi, Japan

1,778

Public

Sumitomo Electric Industries, Ltd.

Tokyo, Japan

182,773

Public

THE NIPPON ROAD CO., LTD.

Tokyo, Japan

1,950

Public

Victor Company of Japan Limited

Yokohama, Japan

7,806

Private

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Shinji Takeuchi

 

Chairman

Chairman

Shuichi Goto

 

Managing Executive Officer, Chief Director of Business, Director of Marine Equipment Business, Director

Director/Board Member

Biography

Mr. Shuichi Goto was named Managing Executive Officer, Chief Director of Business, Director of Marine Equipment Business and Director in Japan Radio Co., Ltd. effective June 2012. He joined the Company in April 1973 and used to serve as Director of System Construction, Chief Director of Sales Strategy, Director of System Machine Business, Chief Director of Solution Business and Chief Director of Quality Assurance in the Company. He obtained his Bachelor's degree in Electronics and Communications from The University of Electro-Communications in March 1973.

 


Age: 62

 


Education:

The University of Electro-Communications, B (Electronics and Communications Engineering)

 

Yasuhiko Hara

 

Executive Officer, Director of Special Machinery Business, Director

Director/Board Member

 

 

Biography

Mr. Yasuhiko Hara was named Executive Officer, Director of Special Machinery Business and Director in Japan Radio Co., Ltd. effective June 2012. He joined the Company in April 1978. His previous titles include Director of 2nd Special Machinery Technology and Chief Director of Production.

 


Age: 58

 

Takashi Iwashita

 

Independent Director

Director/Board Member

 

 

Biography

Mr. Takashi Iwashita has been serving as Independent Director in Japan Radio Co., Ltd. since June 26, 2009. He is now serving as Chairman of the Board in Nisshinbo Industries, Inc. He obtained his LLB's degree from the University of Tokyo in March 1966.

 


Age: 69

 


Education:

University of Tokyo, B (Law)

 

Tatsuro Masamura

 

Executive Officer, Chief Director of Quality Assurance, Director

Director/Board Member

 

 

Biography

Mr. Tatsuro Masamura was named Executive Officer, Chief Director of Quality Assurance and Director in Japan Radio Co., Ltd. effective June 2012. He joined the Company in May 2005 and previously served as Chief Director of Research Development. Prior to joining the Company, he worked for a company that is under the new name, Nippon Telegraph and Telephone Corporation, as well as NTT DoCoMo, Incorporated. He obtained his Master's degree in Engineering from The University of Tokyo in March 1976.

 


Age: 60

 


Education:

University of Tokyo, ME (Engineering)

 

Noboru Matsuda

 

Independent Director

Director/Board Member

 

 

Biography

Mr. Noboru Matsuda has been serving as Independent Director of Japan Radio Co., Ltd. since June 2006. He obtained his Bachelor's degree of Law from Chuo University in March 1957. He is a lawyer.

 


Age: 78

 


Education:

Chuo University, LLB (Law)

 

Hironori Sakamoto

 

Managing Executive Officer, Chief Director of Technology, Director of Communication Equipment Business, Director

Director/Board Member

 

 

Biography

Mr. Hironori Sakamoto was named Managing Executive Officer, Chief Director of Technology, Director of Communication Equipment Business and Director in Japan Radio Co., Ltd. effective June 2012. He joined the Company in April 1974. He previously served as Director of 7th Technology, LPA Plant Manager, Deputy Director of LPA Business and Director of LPA Business in the Company. He obtained his Bachelor's degree in Electric Communications from The University of Electro-Communications in March 1974.

 


Age: 61

 


Education:

The University of Electro-Communications, B

 

Atsunori Sasaki

 

Managing Executive Officer, Chief Director of Business Strategy, Director

Director/Board Member

 

 

Biography

Mr. Atsunori Sasaki has been serving as Managing Executive Officer, Chief Director of Business Strategy and Director in Japan Radio Co., Ltd. since June 2012. He is also serving as Senior Executive Officer and Director in NAGANO JAPAN RADIO CO., LTD. He obtained his Bachelor's degree in Political Economy from Waseda University in March 1975.

 


Age: 59

 


Education:

Waseda University, B (Political Economy)

 

Yoshikazu Sashida

 

Director

Director/Board Member

 

 

Takayoshi Tsuchida

 

President, Representative Director

Director/Board Member

 

 

Biography

Mr. Takayoshi Tsuchida has been serving as President and Representative Director in Japan Radio Co., Ltd. since June 2011. He joined the Company in April 1971. His previous titles include Executive Officer, Director of Government Office Sales, President of Tohoku Office, President of Kansai Office, Chief Director of Sales Strategy, Managing Executive Officer and Chief Director of Sales Strategy in the Company. Mr. Tsuchida obtained his Bachelor's degree in Economics from Asia University in March 1971.

 


Age: 62

 


Education:

Asia University, B (Economics)

 

 

Executives

 

Name

Title

Function

Kouichi Okajima

 

Senior Managing Director

Chief Executive Officer

Takayoshi Tsuchida

 

President, Representative Director

President

Biography

Mr. Takayoshi Tsuchida has been serving as President and Representative Director in Japan Radio Co., Ltd. since June 2011. He joined the Company in April 1971. His previous titles include Executive Officer, Director of Government Office Sales, President of Tohoku Office, President of Kansai Office, Chief Director of Sales Strategy, Managing Executive Officer and Chief Director of Sales Strategy in the Company. Mr. Tsuchida obtained his Bachelor's degree in Economics from Asia University in March 1971.

 


Age: 62

 


Education:

Asia University, B (Economics)

 

Mikio Naito

 

Managing Executive Officer

Managing Director

 

 

Manabu Arai

 

Co-Executive Officer

Operations Executive

 

 

Seiji Kasai

 

Co-Executive Officer

Operations Executive

 

 

Daisaku Yamane

 

Executive Officer

Administration Executive

 

 

Yoshio Nakatsuchi

 

Co-Auditor

Finance Executive

 

 

Hideki Takeishi

 

Co-Auditor

Finance Executive

 

 

Kazunori Baba

 

Corporate Auditor

Accounting Executive

 

 

Masayuki Doi

 

Standing Corporate Auditor

Accounting Executive

 

 

Yuichi Notsu

 

Standing Corporate Auditor

Accounting Executive

 

 

Tsutomu Suzuki

 

Standing Corporate Auditor

Accounting Executive

 

 

Kenji Ara

 

 

Other

 

 

Biography

Mr. Kenji Ara resigned from the position of Executive Officer and Director in Japan Radio Co., Ltd. effective June 2012. He joined the Company in April 1976. His previous titles include Director of Solution Sales, Chief Director of Solution Business and Chief Director of Sales Strategy.

 


Age: 58

 

Yoshimasa Gunji

 

 

Other

 

 

Biography

Mr. Yoshimasa Gunji resigned from the position of Managing Executive Officer and Director in Japan Radio Co., Ltd. effective June 2012. He joined the Company in April 1970. His previous titles include Manager of Wireless Network Group, Manager of Wireless Access System Unit and Chief Director of Production in the Company. Mr. Gunji obtained his Bachelor's degree in Engineering from Shibaura Institute of Technology in March 1970.

 


Age: 64

 


Education:

Shibaura Institute of Technology, B (Engineering)

 

Michiaki Hyodo

 

Executive Officer, Deputy Chief Director of Business Strategy

Other

 

 

Biography

Mr. Michiaki Hyodo was named Executive Officer and Deputy Chief Director of Business Strategy in Japan Radio Co., Ltd. effective June 2012. He joined the Company in April 1973. He previously served as Manager of Business Center, Director and Manager of Business Planning Office of the Company.

 


Age: 62

 

Takeshi Koarai

 

Executive Officer, Director of Research Institute

Other

 

 

 

Shoji Kubota

 

Executive Officer, Deputy Chief Director of Business Strategy

Other

 

 

 

Satoshi Nakamura

 

Executive Officer, Chief Director of General Affairs

Other

 

 

 

Tamiho Shinya

 

Executive Officer, Deputy Director of Marine Machinery Business

Other

 

 

 

Yorihisa Suwa

 

 

Other

 

 

 

Biography

Mr. Yorihisa Suwa resigned from the position of Chairman of the Board and Representative Director of Japan Radio Co., Ltd. in June 2012. He joined the Company in April 1970. His previous titles include Director of 2nd Technology, Director of Marine Equipment Business and President in the Company. He obtained his Bachelor's degree in Science from Osaka City University in March 1970.

 


Age: 64

 


Education:

Osaka City University, BS (Science)

 

Kiyohiko Tatebayashi

 

 

Other

 

 

Biography

Mr. Kiyohiko Tatebayashi resigned from the position of Executive Officer and Director in Japan Radio Co., Ltd. effective June 2012. He joined the Company in April 1970. His previous titles include Manager of Information Processing Center, Director of 1st Communications Technology, Manager of PHS Business Unit and Director of Communications Equipment in the Company. He obtained his Bachelor's degree in Engineering from Tohoku University in March 1970.

 


Age: 64

 


Education:

Tohoku University, B (Engineering)

 

Kazuaki Uchino

 

Executive Officer, Deputy Chief Director of Quality Assurance

Other

 

 

 

Tomohiro Waki

 

Executive Officer, Deputy Director of Communication Equipment Business

Other

 

 

 

Noriaki Yokoi

 

Executive Officer, Director of Solution Business

Other

 

 

 

Mitsugu Yokota

 

Executive Officer, Deputy Director of Special Machine Business

Other

 

 

 

 

Significant Developments

 

 

 

 

Japan Radio Co., Ltd. Amends Full-year Consolidated Outlook for FY Ended March 31, 2012

Apr 27, 2012


Japan Radio Co., Ltd. announced that it has lowered its full-year consolidated outlook for revenue from JPY 101,000 million to JPY 99,800 million, but raised its full-year consolidated outlook for operating profit (loss) from JPY (3,400 million) to JPY (2,800 million), ordinary profit (loss) from JPY (3,700 million) to JPY (2,900 million), net profit (loss) from JPY (2,500 million) to JPY (1,800 million) and earning (loss) per share from JPY (18.15) to JPY (13.07) for the fiscal year ended March 31, 2012. The Company lowered its full-year outlook mainly due to a decline in communication infrastructure-related machinery.

Japan Radio Co., Ltd. Appoints Chairman

Mar 29, 2012


Japan Radio Co., Ltd. announced that it has appointed Yoshihito Onda as Chairman of the Board and Representative Director, who will take the place of Yorihisa Suwa, effective June 2012.

Japan Radio Co., Ltd. Lowers Consolidated Full-year Outlook and Amends Year-end Dividend Forecast for FY 2012

Feb 03, 2012


Japan Radio Co., Ltd. announced that it has lowered its consolidated full-year outlook for revenue from JPY 112,800 million to JPY 101,000 million, operating profit from JPY 3,000 million to a loss of JPY 3,400 million, ordinary profit from JPY 2,600 million to a loss of JPY 3,700 million, net profit from JPY 4,300 million to a loss of JPY 2,500 million and earning per share from JPY 31.21 to a loss of JPY 18.15, for the fiscal year ending March 2012. The Company lowered the outlook due to the impact of the higher yen and the fierce business conditions, as well as the record of extraordinary loss on impairment of assets, among others. In addition, the Company has changed its year-end dividend forecast from an undetermined value to JPY 0.00 per share, for the fiscal year ending March 2012.

Japan Radio Co., Ltd. Affirms Consolidated Mid-year Forecast for FY 2012; Raised Consolidated Full-year Forecast for Net Profit for FY 2012; Expects Extraordinary Profit for FY 2012; to Sell Property

Sep 30, 2011


Japan Radio Co., Ltd. announced that it has affirmed the consolidated mid-year forecast for revenue of JPY 34,700 million, operating profit (loss) of JPY (3,600 million), ordinary profit (loss) of JPY (3,700 million), net profit (loss) of JPY (3,000 million) and earning (loss) per share of JPY (21.78) for the fiscal year ending March 31, 2012. The Company has reaffirmed the consolidated full-year forecast for revenue of JPY 112,800 million, operating profit of JPY 3,000 million, ordinary profit of JPY 2,900 million, and raised the forecast for net profit from JPY 3,500 million to JPY 4,600 and earning per share from JPY 25.41 to JPY 33.39 for the fiscal year ending March 31, 2012. The Company raised the consolidated full-year outlook for net profit due to expectation of JPY 1,175 million extraordinary profit on sale of properties for the fiscal year ending March 31, 2012. The Company has decided to sell a property for JPY 1,188 million in the end of November 2011.

R&I Places Japan Radio Co., Ltd. on Rating Monitor with View to Downgrading

Sep 26, 2011


Rating and Investment Information, Inc. (R&I) announced that it has placed Japan Radio Co., Ltd. on the rating monitor with a view to downgrading. The current rating on Japan Radio Co., Ltd. has been set at "BBB+".

R&I Affirms Rating on Japan Radio Co., Ltd. at "BBB+"; Rating Outlook Stable

Sep 16, 2011


Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on Japan Radio Co., Ltd. at "BBB+". The rating outlook is stable.

 

 

 

 

Annual Income Statement

 

Financials in: USD (mil)

 

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

 

 

 

 

 

  Financial Glossary

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

Revenue

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

Total Revenue

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

 

 

 

 

 

 

    Cost of Revenue

1,083.6

1,045.2

986.9

1,017.2

961.7

Cost of Revenue, Total

1,083.6

1,045.2

986.9

1,017.2

961.7

Gross Profit

181.2

211.7

209.6

205.5

191.6

 

 

 

 

 

 

    Selling/General/Administrative Expense

72.0

65.3

60.5

72.0

52.5

    Labor & Related Expense

104.5

98.1

90.4

82.6

70.4

Total Selling/General/Administrative Expenses

176.5

163.4

150.9

154.6

122.9

Research & Development

40.0

30.1

26.4

35.7

36.2

    Impairment-Assets Held for Use

8.8

1.1

1.4

2.7

0.6

    Impairment-Assets Held for Sale

0.3

1.2

0.0

0.2

0.4

    Other Unusual Expense (Income)

0.1

5.4

2.6

1.9

-2.4

Unusual Expense (Income)

9.2

7.8

4.0

4.8

-1.4

Total Operating Expense

1,309.3

1,246.6

1,168.3

1,212.3

1,119.3

 

 

 

 

 

 

Operating Income

-44.5

10.3

28.3

10.5

34.0

 

 

 

 

 

 

        Interest Expense - Non-Operating

-4.7

-5.0

-4.8

-4.0

-3.2

    Interest Expense, Net Non-Operating

-4.7

-5.0

-4.8

-4.0

-3.2

        Interest Income - Non-Operating

1.6

0.4

0.4

0.7

0.7

        Investment Income - Non-Operating

13.8

20.1

5.2

0.8

0.8

    Interest/Investment Income - Non-Operating

15.4

20.4

5.7

1.5

1.6

Interest Income (Expense) - Net Non-Operating Total

10.7

15.5

0.8

-2.5

-1.7

Gain (Loss) on Sale of Assets

14.9

-

0.0

10.9

0.0

    Other Non-Operating Income (Expense)

0.5

0.2

0.1

0.2

0.1

Other, Net

0.5

0.2

0.1

0.2

0.1

Income Before Tax

-18.4

26.0

29.2

19.1

32.5

 

 

 

 

 

 

Total Income Tax

4.6

3.2

4.1

4.6

2.9

Income After Tax

-23.0

22.8

25.1

14.5

29.5

 

 

 

 

 

 

    Minority Interest

-0.3

-0.3

-0.1

0.3

0.0

Net Income Before Extraord Items

-23.3

22.5

25.0

14.8

29.6

Net Income

-23.3

22.5

25.0

14.8

29.6

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-0.1

-0.1

-0.1

0.0

0.0

Total Adjustments to Net Income

-0.1

-0.1

-0.1

0.0

0.0

Income Available to Common Excl Extraord Items

-23.4

22.4

25.0

14.8

29.5

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

-23.4

22.4

25.0

14.8

29.5

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Basic EPS Excl Extraord Items

-0.17

0.16

0.18

0.11

0.21

Basic/Primary EPS Incl Extraord Items

-0.17

0.16

0.18

0.11

0.21

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

-23.4

22.4

25.0

14.8

29.5

Diluted Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Diluted EPS Excl Extraord Items

-0.17

0.16

0.18

0.11

0.21

Diluted EPS Incl Extraord Items

-0.17

0.16

0.18

0.11

0.21

Dividends per Share - Common Stock Primary Issue

0.00

0.06

0.03

0.03

0.04

Gross Dividends - Common Stock

0.0

8.0

4.4

4.1

6.0

Interest Expense, Supplemental

4.7

5.0

4.8

4.0

3.2

Depreciation, Supplemental

16.3

16.5

17.0

17.6

16.0

Total Special Items

-5.7

7.8

4.0

-6.2

-1.4

Normalized Income Before Tax

-24.1

33.9

33.2

12.9

31.1

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-2.0

1.0

0.6

-1.5

-0.1

Inc Tax Ex Impact of Sp Items

2.6

4.2

4.6

3.1

2.8

Normalized Income After Tax

-26.8

29.7

28.6

9.8

28.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-27.1

29.3

28.4

10.1

28.3

 

 

 

 

 

 

Basic Normalized EPS

-0.20

0.21

0.21

0.07

0.21

Diluted Normalized EPS

-0.20

0.21

0.21

0.07

0.21

Research & Development Exp, Supplemental

-

52.2

40.6

60.9

58.8

Reported Operating Profit

-35.3

18.1

32.3

28.5

35.3

Reported Ordinary Profit

-36.0

13.2

30.2

23.6

30.9

Normalized EBIT

-35.3

18.1

32.3

15.3

32.6

Normalized EBITDA

-19.0

34.6

49.3

32.9

48.6

Interest Cost - Domestic

-

10.2

9.6

8.8

7.7

Service Cost - Domestic

-

17.9

16.8

15.2

13.7

Prior Service Cost - Domestic

-

-4.5

-3.6

-3.4

-3.0

Expected Return on Assets - Domestic

-

-7.2

-5.9

-1.2

-9.8

Actuarial Gains and Losses - Domestic

-

17.3

15.5

10.6

5.8

Transition Costs - Domestic

-

3.8

3.5

3.3

2.9

Domestic Pension Plan Expense

-

37.5

35.9

33.3

17.3

Total Pension Expense

-

37.5

35.9

33.3

17.3

Discount Rate - Domestic

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

-

0.00%

0.00%

0.00%

2.00%

Total Plan Interest Cost

-

10.2

9.6

8.8

7.7

Total Plan Service Cost

-

17.9

16.8

15.2

13.7

Total Plan Expected Return

-

-7.2

-5.9

-1.2

-9.8

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

82.88

93.44

98.77

99.535

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

43.8

71.9

163.0

174.5

41.3

    Short Term Investments

2.0

213.1

33.9

1.7

38.8

Cash and Short Term Investments

45.7

285.0

196.8

176.3

80.1

        Accounts Receivable - Trade, Gross

547.9

554.8

519.9

509.8

518.7

        Provision for Doubtful Accounts

-2.7

-2.5

-2.4

-12.7

-2.1

    Trade Accounts Receivable - Net

545.2

552.3

517.6

497.1

516.6

    Other Receivables

14.7

0.0

-

-

-

Total Receivables, Net

559.9

552.3

517.6

497.1

516.6

    Inventories - Finished Goods

73.1

75.0

70.1

96.0

78.1

    Inventories - Work In Progress

184.8

182.1

142.6

185.4

193.6

    Inventories - Raw Materials

38.1

40.2

35.6

47.0

49.3

Total Inventory

296.0

297.2

248.3

328.4

321.0

Prepaid Expenses

8.8

12.3

10.0

5.2

7.9

    Deferred Income Tax - Current Asset

3.8

3.8

3.1

3.4

3.4

    Other Current Assets

9.4

6.6

6.8

8.3

7.6

Other Current Assets, Total

13.2

10.4

9.9

11.7

11.0

Total Current Assets

923.6

1,157.3

982.5

1,018.7

936.7

 

 

 

 

 

 

        Buildings

320.7

314.9

273.2

258.1

262.6

        Land/Improvements

23.7

23.7

20.5

19.4

19.5

        Machinery/Equipment

304.0

314.9

280.4

285.0

287.2

        Construction in Progress

0.2

0.4

0.0

0.0

0.0

        Leases

3.2

2.6

2.2

1.1

0.0

    Property/Plant/Equipment - Gross

651.9

656.4

576.3

563.6

569.2

    Accumulated Depreciation

-542.9

-542.7

-472.4

-457.3

-460.7

Property/Plant/Equipment - Net

109.0

113.7

103.9

106.3

108.5

Intangibles, Net

7.5

8.3

6.2

7.0

9.6

    LT Investment - Affiliate Companies

-

25.9

-

-

-

    LT Investments - Other

65.1

75.6

117.4

99.4

129.6

Long Term Investments

65.1

101.5

117.4

99.4

129.6

Note Receivable - Long Term

0.8

0.2

0.2

0.3

0.2

    Deferred Income Tax - Long Term Asset

14.6

15.2

13.5

12.6

13.2

    Other Long Term Assets

31.9

35.0

32.1

25.1

22.8

Other Long Term Assets, Total

46.5

50.2

45.6

37.7

36.0

Total Assets

1,152.5

1,431.1

1,255.8

1,269.4

1,220.7

 

 

 

 

 

 

Accounts Payable

309.3

326.5

263.2

293.9

340.9

Accrued Expenses

25.0

25.6

25.4

25.0

26.0

Notes Payable/Short Term Debt

15.2

21.4

15.5

55.7

16.0

Current Portion - Long Term Debt/Capital Leases

25.8

227.2

13.8

40.5

23.4

    Customer Advances

23.1

27.0

20.8

17.2

14.2

    Security Deposits

2.5

2.4

2.2

1.8

1.8

    Income Taxes Payable

3.6

3.1

3.2

3.1

3.3

    Other Current Liabilities

60.5

47.3

51.0

41.6

47.2

Other Current liabilities, Total

89.7

79.8

77.2

63.7

66.4

Total Current Liabilities

464.9

680.5

395.1

478.7

472.7

 

 

 

 

 

 

    Long Term Debt

13.4

35.5

232.3

232.3

170.0

    Capital Lease Obligations

1.7

2.0

1.6

1.1

0.0

Total Long Term Debt

15.2

37.5

233.9

233.4

170.0

Total Debt

56.2

286.0

263.3

329.6

209.4

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

1.2

8.7

15.5

10.6

24.3

Deferred Income Tax

1.2

8.7

15.5

10.6

24.3

Minority Interest

4.6

4.3

3.6

3.3

3.6

    Reserves

7.0

7.0

2.5

0.0

-

    Pension Benefits - Underfunded

153.7

148.9

127.5

115.2

111.9

    Other Long Term Liabilities

7.9

7.7

6.5

8.3

8.6

Other Liabilities, Total

168.5

163.7

136.6

123.4

120.5

Total Liabilities

654.4

894.6

784.7

849.4

791.1

 

 

 

 

 

 

    Common Stock

178.5

177.4

157.4

148.9

147.7

Common Stock

178.5

177.4

157.4

148.9

147.7

Additional Paid-In Capital

200.3

199.1

176.6

167.1

165.8

Retained Earnings (Accumulated Deficit)

117.9

147.8

114.9

89.4

80.7

Treasury Stock - Common

-0.8

-0.8

-0.7

-0.6

-0.6

Unrealized Gain (Loss)

2.4

13.1

22.9

15.3

35.7

    Translation Adjustment

-0.3

-0.1

0.0

-0.1

0.2

Other Equity, Total

-0.3

-0.1

0.0

-0.1

0.2

Total Equity

498.0

536.4

471.1

420.0

429.6

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,152.4

1,431.0

1,255.8

1,269.4

1,220.7

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

137.8

137.8

137.8

137.8

137.8

Total Common Shares Outstanding

137.8

137.8

137.8

137.8

137.8

Treasury Shares - Common Stock Primary Issue

0.2

0.2

0.2

0.2

0.2

Employees

-

3,766

3,760

3,770

3,751

Number of Common Shareholders

-

8,419

11,443

12,044

10,915

Deferred Revenue - Current

23.1

27.0

20.8

17.2

14.2

Total Long Term Debt, Supplemental

-

261.9

245.6

272.6

193.4

Long Term Debt Maturing within 1 Year

-

226.4

13.3

40.2

23.4

Long Term Debt Maturing in Year 2

-

23.7

200.8

12.6

155.0

Long Term Debt Maturing in Year 3

-

11.8

21.0

190.0

12.1

Long Term Debt Maturing in Year 4

-

0.0

10.5

19.9

1.2

Long Term Debt Maturing in Year 5

-

0.0

0.0

9.9

1.7

Long Term Debt Maturing in 2-3 Years

-

35.5

221.8

202.6

167.1

Long Term Debt Maturing in 4-5 Years

-

0.0

10.5

29.8

2.9

Long Term Debt Matur. in Year 6 & Beyond

-

0.0

0.0

0.0

0.0

Total Capital Leases, Supplemental

-

2.7

2.2

46.5

5.0

Capital Lease Payments Due in Year 1

-

0.8

0.5

40.8

-

Capital Lease Payments Due in Year 2

-

0.8

0.5

0.3

-

Capital Lease Payments Due in Year 3

-

0.7

0.5

0.3

-

Capital Lease Payments Due in Year 4

-

0.3

0.4

0.3

-

Capital Lease Payments Due in Year 5

-

0.2

0.1

0.2

-

Capital Lease Payments Due in 2-3 Years

-

1.4

1.0

0.6

-

Capital Lease Payments Due in 4-5 Years

-

0.5

0.5

0.4

-

Cap. Lease Pymts. Due in Year 6 & Beyond

-

0.0

0.1

4.8

5.0

Pension Obligation - Domestic

-

525.1

472.2

446.7

439.1

Plan Assets - Domestic

-

293.0

264.8

218.8

257.9

Funded Status - Domestic

-

-232.1

-207.3

-228.0

-181.2

Total Funded Status

-

-232.1

-207.3

-228.0

-181.2

Discount Rate - Domestic

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

-

0.00%

0.00%

0.00%

2.00%

Prepaid Benefits - Domestic

-

29.3

27.2

20.6

16.2

Accrued Liabilities - Domestic

-

-146.8

-124.7

-113.0

-110.0

Other Assets, Net - Domestic

-

114.6

109.8

135.5

87.4

Net Assets Recognized on Balance Sheet

-

-2.8

12.3

43.1

-6.4

Total Plan Obligations

-

525.1

472.2

446.7

439.1

Total Plan Assets

-

293.0

264.8

218.8

257.9

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

-18.4

26.0

29.1

19.0

32.4

    Depreciation

16.3

16.5

17.0

17.6

16.0

Depreciation/Depletion

16.3

16.5

17.0

17.6

16.0

    Unusual Items

-17.6

-18.3

0.0

-14.9

0.3

    Equity in Net Earnings (Loss)

-4.0

-2.9

-2.2

-3.6

-2.5

    Other Non-Cash Items

10.5

8.0

2.6

13.2

-11.7

Non-Cash Items

-11.1

-13.1

0.4

-5.3

-13.8

    Accounts Receivable

10.5

30.3

18.8

11.9

-6.0

    Inventories

3.1

-16.9

99.9

-4.9

22.5

    Accounts Payable

-20.0

28.9

-47.7

-48.6

-24.4

    Other Operating Cash Flow

4.5

-10.9

-6.3

-7.4

-8.8

Changes in Working Capital

-1.9

31.3

64.6

-49.1

-16.7

Cash from Operating Activities

-15.1

60.6

111.1

-17.7

17.9

 

 

 

 

 

 

    Purchase of Fixed Assets

-13.6

-8.4

-10.0

-11.5

-8.8

Capital Expenditures

-13.6

-8.4

-10.0

-11.5

-8.8

    Sale of Fixed Assets

14.6

0.0

0.0

15.6

0.0

    Sale/Maturity of Investment

38.0

29.6

1.9

0.0

2.1

    Investment, Net

0.0

0.0

0.0

0.0

-

    Purchase of Investments

-4.8

-1.5

-2.3

-3.7

-0.1

    Sale of Intangible Assets

-

-

-

-

0.0

    Other Investing Cash Flow

-18.7

-1.5

-0.8

0.9

-3.4

Other Investing Cash Flow Items, Total

29.1

26.6

-1.2

12.7

-1.4

Cash from Investing Activities

15.5

18.2

-11.2

1.3

-10.2

 

 

 

 

 

 

    Other Financing Cash Flow

-0.9

-0.7

-0.3

-0.1

-0.1

Financing Cash Flow Items

-0.9

-0.7

-0.3

-0.1

-0.1

    Cash Dividends Paid - Common

-8.7

-4.8

-4.4

-6.8

-6.0

Total Cash Dividends Paid

-8.7

-4.8

-4.4

-6.8

-6.0

    Short Term Debt, Net

-6.6

3.7

-43.6

38.9

3.8

        Long Term Debt Issued

2.5

0.0

0.0

99.7

0.0

        Long Term Debt Reduction

-237.5

-14.5

-42.7

-23.3

-1.4

    Long Term Debt, Net

-234.9

-14.5

-42.7

76.3

-1.4

Issuance (Retirement) of Debt, Net

-241.5

-10.8

-86.3

115.2

2.4

Cash from Financing Activities

-251.0

-16.2

-91.1

108.3

-3.6

 

 

 

 

 

 

Foreign Exchange Effects

-0.4

-1.9

-0.4

-1.3

-1.0

Net Change in Cash

-251.0

60.7

8.5

90.5

3.1

 

 

 

 

 

 

Net Cash - Beginning Balance

292.0

208.4

183.7

79.4

66.7

Net Cash - Ending Balance

41.0

269.1

192.2

169.9

69.8

Cash Interest Paid

5.1

5.0

4.9

4.1

3.5

Cash Taxes Paid

3.0

4.1

3.9

4.0

1.8

 

 

 

 

Annual Income Statement

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

Total Revenue

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

 

 

 

 

 

 

    Cost of Sales

1,083.6

1,045.2

986.9

1,004.0

959.0

    Res-Doubt.Acct.Allow

0.5

0.1

0.5

11.2

0.0

    Emp.& Direc. Salary

90.9

86.0

79.2

72.8

64.9

    Res-Accr.Retire Bft.

13.0

11.6

10.6

9.3

4.9

    Provision of reserve for directors' reti

0.6

0.6

0.6

0.6

0.6

    Research & Development expenses, SGA

40.0

30.1

26.4

35.7

36.2

    Other SG&A Cost

71.5

65.2

60.1

60.8

52.5

    SP Rev-Doubt.Acct.Allow

0.0

-0.4

-0.2

-0.1

-2.2

    SP Other Special Gains

0.0

-0.2

0.0

-1.0

-0.2

    SP Val.Loss-Invest.Sec

0.3

1.2

0.0

0.1

0.2

    SP Val.Loss-Inventory

-

-

0.0

13.3

0.0

    SP Spec. prov. for doubtful acts

-

-

0.0

3.0

0.0

    SP Product Failure Provision

-

-

-

-

0.0

    SP Provi. for reserve for environmental

-

0.0

2.5

0.0

-

    SP Impairment Loss

8.3

0.7

0.0

0.2

0.1

    SP L-val. of golf membership

-

0.0

0.0

0.1

0.1

    SP L-adjust. for changes of accts assets

0.0

4.3

0.0

-

-

    SP Loss on disaster

0.0

1.7

0.0

-

-

    SP Other Special loss

0.1

0.0

0.3

0.0

0.0

    NOP L-retire.Fixed Asset(Non-Op)

0.5

0.4

1.3

2.6

0.5

    NOP Val.Loss-Inventory

-

-

-

0.0

2.7

Total Operating Expense

1,309.3

1,246.6

1,168.3

1,212.3

1,119.3

 

 

 

 

 

 

    SP Sale Gain-Fixed Asst

14.9

-

0.0

15.2

0.0

    SP Sale Gain-Invest.Sec.

11.3

22.9

1.8

0.0

0.0

    SP Disposal-Inventory

-

-

0.0

-4.3

0.0

    SP Sale Loss-Invest. Sec.

0.0

-2.7

-0.1

0.0

-0.3

    NOP Interest Income

1.6

0.4

0.4

0.7

0.7

    NOP Dividend Income

1.5

2.1

1.8

2.0

2.1

    NOP Exchange Gain

-

-

-

-

0.0

    NOP Equity in earnings of affiliates

4.0

2.9

2.2

3.6

2.5

    NOP Patent Income

0.1

0.1

0.2

0.3

0.3

    NOP Other non-operating income

0.9

0.8

0.6

0.6

0.7

    NOP Interest expenses

-4.7

-5.0

-4.8

-4.0

-3.2

    NOP Exchange Loss

-3.0

-5.1

-0.4

-4.8

-3.5

    NOP Other Non-op.Expense

-0.4

-0.7

-0.7

-0.7

-0.9

Net Income Before Taxes

-18.4

26.0

29.2

19.1

32.5

 

 

 

 

 

 

Provision for Income Taxes

4.6

3.2

4.1

4.6

2.9

Net Income After Taxes

-23.0

22.8

25.1

14.5

29.5

 

 

 

 

 

 

    Minority Interest

-0.3

-0.3

-0.1

0.3

0.0

Net Income Before Extra. Items

-23.3

22.5

25.0

14.8

29.6

Net Income

-23.3

22.5

25.0

14.8

29.6

 

 

 

 

 

 

    Rounding Adjustment

-0.1

-0.1

-0.1

0.0

0.0

Income Available to Com Excl ExtraOrd

-23.4

22.4

25.0

14.8

29.5

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

-23.4

22.4

25.0

14.8

29.5

 

 

 

 

 

 

Basic Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Basic EPS Excluding ExtraOrdinary Items

-0.17

0.16

0.18

0.11

0.21

Basic EPS Including ExtraOrdinary Item

-0.17

0.16

0.18

0.11

0.21

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

-23.4

22.4

25.0

14.8

29.5

Diluted Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Diluted EPS Excluding ExtraOrd Items

-0.17

0.16

0.18

0.11

0.21

Diluted EPS Including ExtraOrd Items

-0.17

0.16

0.18

0.11

0.21

DPS-Common Stock

0.00

0.06

0.03

0.03

0.04

Gross Dividends - Common Stock

0.0

8.0

4.4

4.1

6.0

Normalized Income Before Taxes

-24.1

33.9

33.2

12.9

31.1

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

2.6

4.2

4.6

3.1

2.8

Normalized Income After Taxes

-26.8

29.7

28.6

9.8

28.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-27.1

29.3

28.4

10.1

28.3

 

 

 

 

 

 

Basic Normalized EPS

-0.20

0.21

0.21

0.07

0.21

Diluted Normalized EPS

-0.20

0.21

0.21

0.07

0.21

R&D expense, supplemental

-

30.1

26.4

35.7

36.2

R & D Expenses (COGS)

-

22.1

14.2

25.2

22.6

Interest expense, supplemental

4.7

5.0

4.8

4.0

3.2

Depreciation, supplemental

16.3

16.5

17.0

17.6

16.0

Reported Operating Profit

-35.3

18.1

32.3

28.5

35.3

Reported Ordinary Profit

-36.0

13.2

30.2

23.6

30.9

Service Cost

-

17.9

16.8

15.2

13.7

Interest Cost

-

10.2

9.6

8.8

7.7

Expected Return on Plan Assets

-

-7.2

-5.9

-1.2

-9.8

Prior Service Cost

-

-4.5

-3.6

-3.4

-3.0

Actuarial Gains & Losses

-

17.3

15.5

10.6

5.8

Expenses due to Acct. Change

-

3.8

3.5

3.3

2.9

Domestic Pension Plan Expense

-

37.5

35.9

33.3

17.3

Total Pension Expense

-

37.5

35.9

33.3

17.3

Discount rate

-

2.00%

2.00%

2.00%

2.00%

Expected rate of return

-

0.00%

0.00%

0.00%

2.00%

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

82.88

93.44

98.77

99.535

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and Deposit

43.8

71.9

163.0

174.5

41.3

    Note&Acct.Rcvbl.

547.9

554.8

519.9

509.8

518.7

    Marketable Sec.

2.0

213.1

33.9

1.7

38.8

    Inventories - merchandise&finished goods

73.1

75.0

70.1

96.0

78.1

    Inventories - work-in-process

184.8

182.1

142.6

185.4

193.6

    Inventories - raw materials&supplies

38.1

40.2

35.6

47.0

49.3

    Advance Payment

8.8

12.3

10.0

5.2

7.9

    Dfrd. Tax Asset

3.8

3.8

3.1

3.4

3.4

    Short-term loans receivable from subsi.

14.7

0.0

-

-

-

    Other Curr.Asset

9.4

6.6

6.8

8.3

7.6

    Doubtful Account

-2.7

-2.5

-2.4

-12.7

-2.1

Total Current Assets

923.6

1,157.3

982.5

1,018.7

936.7

 

 

 

 

 

 

    Bldg.&Structure

320.7

314.9

273.2

258.1

262.6

    Accum. depr - bldg&struc

-254.4

-249.0

-213.0

-197.7

-199.5

    Machinery&Equip

109.2

111.4

99.9

99.4

100.3

    Accum. depr - machin&vehicles

-102.8

-101.5

-89.8

-87.7

-88.4

    Tool and Fixture

194.9

203.5

180.6

185.6

186.9

    Accum. depr - tools, furn, fixtur

-184.1

-191.2

-169.1

-171.8

-172.8

    Land

23.7

23.7

20.5

19.4

19.5

    Lease

3.2

2.6

2.2

1.1

0.0

    Depre.- Lease

-1.5

-1.0

-0.4

-0.1

0.0

    Construction

0.2

0.4

0.0

0.0

0.0

    Intangible Asset

7.5

8.3

6.2

7.0

9.6

    Investment Sec.

65.1

75.6

117.4

99.4

129.6

    Equity secs.-nonconsolidated affil.

-

25.9

-

-

-

    LT Loan

0.8

0.2

0.2

0.3

0.2

    Dfrd. Tax Asset

14.6

15.2

13.5

12.6

13.2

    Other Assets

51.1

54.0

49.4

31.2

26.1

    Doubtful Account

-19.2

-19.0

-17.2

-6.1

-3.3

    Adjustment

-

-

0.0

-

-

Total Assets

1,152.5

1,431.1

1,255.8

1,269.4

1,220.7

 

 

 

 

 

 

    Note&Acct. Pybl.

309.3

326.5

263.2

293.9

340.9

    ST Borrowing

15.2

21.4

15.5

15.2

16.0

    Cur.Port-LT Debt

24.9

226.4

13.3

40.2

23.4

    Commercial Paper

-

-

0.0

40.5

0.0

    Accrued Expense

25.0

25.6

25.4

25.0

26.0

    Lease

1.0

0.8

0.5

0.3

0.0

    Income Tax Pybl.

3.6

3.1

3.2

3.1

3.3

    Advance Received

23.1

27.0

20.8

17.2

14.2

    Customer Deposit

2.5

2.4

2.2

1.8

1.8

    Provision for loss on disaster

0.0

1.2

0.0

-

-

    Res-Prod.Wrrty.

10.2

1.5

5.8

1.6

4.0

    Other Curr.Liab.

50.3

44.6

45.2

40.0

43.2

Total Current Liabilities

464.9

680.5

395.1

478.7

472.7

 

 

 

 

 

 

    LT Borrowing

13.4

35.5

232.3

232.3

170.0

    Lease

1.7

2.0

1.6

1.1

0.0

Total Long Term Debt

15.2

37.5

233.9

233.4

170.0

 

 

 

 

 

 

    Dfrd. Tax Liab.

1.2

8.7

15.5

10.6

24.3

    Res-Accr.Retire

151.7

146.8

124.7

113.0

110.0

    Res-Direc.Retire

2.0

2.1

2.8

2.2

1.9

    Other Liability

7.9

7.7

6.5

8.2

8.5

    Minor. Interest

4.6

4.3

3.6

3.3

3.6

    Adjustment

-

-

-

0.1

0.1

    Asset retirement obligations

4.2

4.2

0.0

-

-

    Reserve for environmental measures

2.8

2.8

2.5

0.0

-

Total Liabilities

654.4

894.6

784.7

849.4

791.1

 

 

 

 

 

 

    Common Stock

178.5

177.4

157.4

148.9

147.7

    Paid In Capital

200.3

199.1

176.6

167.1

165.8

    Retained Earning

117.9

147.8

114.9

89.4

80.7

    Treasury Stock

-0.8

-0.8

-0.7

-0.6

-0.6

    Unreal.Gain-Sec

2.4

13.1

22.9

15.3

35.7

    Foreign currency translation adjustment

-0.3

-0.1

0.0

-0.1

0.2

Total Equity

498.0

536.4

471.1

420.0

429.6

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

1,152.4

1,431.0

1,255.8

1,269.4

1,220.7

 

 

 

 

 

 

    S/O-Common Stock

137.8

137.8

137.8

137.8

137.8

Total Common Shares Outstanding

137.8

137.8

137.8

137.8

137.8

T/S-Common Stock

0.2

0.2

0.2

0.2

0.2

Deferred Revenue - Current

23.1

27.0

20.8

17.2

14.2

Full-Time Employees

-

3,766

3,760

3,770

3,751

Number of Common Shareholders

-

8,419

11,443

12,044

10,915

LT Debt, mat. within 1 yr.

-

226.4

13.3

40.2

23.4

LT Debt, mat. by 2 yr.

-

23.7

200.8

12.6

155.0

LT Debt, mat. by 3 yr.

-

11.8

21.0

190.0

12.1

LT Debt, mat. by 4 yr.

-

0.0

10.5

19.9

1.2

LT Debt, mat. by 5 yr.

-

0.0

0.0

9.9

1.7

LT Debt, mat. over 5 yr.

-

0.0

-

-

-

Total Long Term Debt, Supplemental

-

261.9

245.6

272.6

193.4

Capital lease payment due in 1 year

-

0.8

0.5

40.8

-

Capital lease payment due in 2 years

-

0.8

0.5

0.3

-

Capital lease payment due in 3 years

-

0.7

0.5

0.3

-

Capital lease payment due in 4 years

-

0.3

0.4

0.3

-

Capital lease payment due in 5 years

-

0.2

0.1

0.2

-

Capital lease Remaining

-

0.0

0.1

4.8

5.0

Total Capital Leases

-

2.7

2.2

46.5

5.0

Pension Obligation

-

525.1

472.2

446.7

439.1

Fair Value of Plan Assets

-

293.0

264.8

218.8

257.9

Funded Status

-

-232.1

-207.3

-228.0

-181.2

Total Funded Status

-

-232.1

-207.3

-228.0

-181.2

Discount Rate

-

2.00%

2.00%

2.00%

2.00%

Expected Return on Plan Assets

-

0.00%

0.00%

0.00%

2.00%

Difference due to Acct. Changes

-

15.9

17.6

20.0

23.1

Unrecognized Actuarial Gains & Loss

-

125.7

120.2

145.9

97.8

Unrecognized Prior Service Cost

-

-26.9

-28.0

-30.3

-33.5

Prepaid Pension Benefits

-

29.3

27.2

20.6

16.2

Accrued Pension Benefits

-

-146.8

-124.7

-113.0

-110.0

Net Assets Recognized on Balance Sheet

-

-2.8

12.3

43.1

-6.4

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Income Before Tax

-18.4

26.0

29.1

19.0

32.4

    Depreciation

16.3

16.5

17.0

17.6

16.0

    Impairment

8.3

0.7

0.0

0.2

0.1

    Res-Doubt.Acct.Allow

0.5

-0.6

0.1

14.0

-2.1

    Res-Accr.Retire Bft.

8.4

6.1

0.0

-2.0

-9.9

    Int. and Div. Income

-3.1

-2.5

-2.2

-2.8

-2.9

    Interes Expense

4.7

5.0

4.8

4.0

3.2

    Equity in Affiliate

-4.0

-2.9

-2.2

-3.6

-2.5

    Sale Gain-Fixed Asst

-14.9

0.0

0.0

-15.2

0.0

    Sale Gain-Invest.Sec

-11.3

-20.2

0.0

-

0.0

    Val.Loss-Invest.Sec

0.3

1.2

0.0

0.1

0.2

    Account Receivable

10.5

30.3

18.8

11.9

-6.0

    Inventories

3.1

-16.9

99.9

-4.9

22.5

    Account Payable

-20.0

28.9

-47.7

-48.6

-24.4

    Other Opera.Activity

9.2

-4.6

0.0

-2.3

-6.4

    Int. and Div. Rcvd.

3.4

2.8

2.5

3.0

2.9

    Interest expenses paid

-5.1

-5.0

-4.9

-4.1

-3.5

    Income taxes paid, cash basis

-3.0

-4.1

-3.9

-4.0

-1.8

    Adjustment

-

-

-

0.0

0.0

Cash from Operating Activities

-15.1

60.6

111.1

-17.7

17.9

 

 

 

 

 

 

    Time Deposit Made

-4.7

-1.3

-2.2

-1.7

0.0

    Time Deposit Matured

5.1

0.9

0.0

0.0

0.9

    Purch-Marketable Sec

-

-

0.0

-1.6

0.0

    ST loans, net

-15.4

0.0

-

-

-

    Marketable securities, net

0.0

0.0

0.0

0.0

-

    Capial Expenditure

-13.6

-8.4

-10.0

-11.5

-8.8

    Sale-Fixed Asset

14.6

0.0

0.0

15.6

0.0

    Sale of Intangibles

-

-

-

-

0.0

    Purch-Investment Sec

-0.1

-0.2

-0.1

-0.4

-0.1

    Proceeds from sales of investment securi

32.9

28.7

1.9

0.0

1.2

    Other Inv. Activity

-3.3

-1.5

-0.8

0.9

-3.4

Cash from Investing Activities

15.5

18.2

-11.2

1.3

-10.2

 

 

 

 

 

 

    ST Debt, Net

-6.6

3.7

-0.5

-0.9

3.8

    Commercial Paper,Net

-

0.0

-43.0

39.8

0.0

    Issued-LT Debt

2.5

0.0

0.0

99.7

0.0

    Repaid-LT Debt

-237.5

-14.5

-42.7

-23.3

-1.4

    Redemp-Corp.Bond

-

-

-

-

0.0

    Dividend Paid

-8.7

-4.8

-4.4

-6.8

-6.0

    Div.Paid to Minority

0.0

0.0

0.0

0.0

0.0

    Other financing activities

-0.8

-0.6

-0.3

0.0

-0.1

Cash from Financing Activities

-251.0

-16.2

-91.1

108.3

-3.6

 

 

 

 

 

 

Foreign Exchange Effects

-0.4

-1.9

-0.4

-1.3

-1.0

Net Change in Cash

-251.0

60.7

8.5

90.5

3.1

 

 

 

 

 

 

Net Cash - Beginning Balance

292.0

208.4

183.7

79.4

66.7

Net Cash - Ending Balance

41.0

269.1

192.2

169.9

69.8

    Cash Interest Paid

5.1

5.0

4.9

4.1

3.5

    Cash Taxes Paid

3.0

4.1

3.9

4.0

1.8

 

 

 

Financial Health

 

Financials in: USD (mil)

 

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

 

 

Key Indicators USD (mil)

 

Quarter
Ending
31-Mar-2012

Quarter
Ending
Yr Ago

Annual
Year End
31-Mar-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

588.9

-5.85%

1,264.8

-7.27%

-6.68%

-4.64%

Research & Development1

-

-

40.0

22.35%

-4.13%

-2.67%

Operating Income1

32.1

-36.30%

-44.5

-

-

-

Income Available to Common Excl Extraord Items1

35.8

-32.38%

-23.4

-

-

-

Basic EPS Excl Extraord Items1

0.26

-32.38%

-0.17

-

-

-

Capital Expenditures2

13.6

-

13.6

49.03%

-2.22%

2.12%

Cash from Operating Activities2

-15.1

-

-15.1

-

-

-

Free Cash Flow

-27.5

-

-27.5

-

-

-

Total Assets3

1,152.4

-19.95%

1,152.5

-19.95%

-8.85%

-5.46%

Total Liabilities3

654.4

-27.29%

654.4

-27.29%

-13.71%

-8.33%

Total Long Term Debt3

15.2

-59.76%

15.2

-59.76%

-62.16%

-42.13%

Total Common Shares Outstanding3

137.8

0.00%

137.8

0.00%

-0.01%

-0.01%

1-ExchangeRate: JPY to USD Average for Period

79.208816

 

78.961215

 

 

 

2-ExchangeRate: JPY to USD Average for Period

78.961215

 

78.961215

 

 

 

3-ExchangeRate: JPY to USD Period End Date

82.385362

 

82.385362

 

 

 

Key Ratios

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Profitability

Gross Margin

14.33%

16.84%

17.52%

16.81%

16.62%

Operating Margin

-3.52%

0.82%

2.36%

0.86%

2.95%

Pretax Margin

-1.45%

2.07%

2.44%

1.56%

2.81%

Net Profit Margin

-1.85%

1.78%

2.09%

1.21%

2.56%

Financial Strength

Current Ratio

1.99

1.70

2.49

2.13

1.98

Long Term Debt/Equity

0.03

0.07

0.50

0.56

0.40

Total Debt/Equity

0.11

0.53

0.56

0.78

0.49

Management Effectiveness

Return on Assets

-1.70%

1.66%

1.92%

1.18%

2.73%

Return on Equity

-4.31%

4.34%

5.43%

3.52%

7.93%

Efficiency

Receivables Turnover

2.17

2.29

2.28

2.44

2.58

Inventory Turnover

3.49

3.75

3.30

3.18

3.31

Asset Turnover

0.94

0.91

0.92

1.00

1.07

Market Valuation USD (mil)

Enterprise Value2

261.2

.

Price/Sales (TTM)

0.20

Enterprise Value/Revenue (TTM)

0.22

.

Price/Book (MRQ)

0.49

Market Cap as of 01-Jun-20121

 

.

 

 

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

 

 

 

 

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

82.385362

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

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

 



 

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Financial Strength

Current Ratio

1.99

1.70

2.49

2.13

1.98

Quick/Acid Test Ratio

1.30

1.23

1.81

1.41

1.26

Working Capital1

458.7

476.8

587.4

540.0

464.0

Long Term Debt/Equity

0.03

0.07

0.50

0.56

0.40

Total Debt/Equity

0.11

0.53

0.56

0.78

0.49

Long Term Debt/Total Capital

0.03

0.05

0.32

0.31

0.27

Total Debt/Total Capital

0.10

0.35

0.36

0.44

0.33

Payout Ratio

0.00%

35.86%

17.80%

27.88%

20.41%

Effective Tax Rate

-

12.42%

13.94%

23.94%

8.98%

Total Capital1

554.2

822.4

734.4

749.5

639.0

 

 

 

 

 

 

Efficiency

Asset Turnover

0.94

0.91

0.92

1.00

1.07

Inventory Turnover

3.49

3.75

3.30

3.18

3.31

Days In Inventory

104.55

97.45

110.68

114.96

110.40

Receivables Turnover

2.17

2.29

2.28

2.44

2.58

Days Receivables Outstanding

167.95

159.51

159.94

149.31

141.30

Revenue/Employee2

-

345,069

316,536

329,974

353,089

Operating Income/Employee2

-

2,832

7,486

2,833

10,406

EBITDA/Employee2

-

7,359

11,977

7,592

15,315

 

 

 

 

 

 

Profitability

Gross Margin

14.33%

16.84%

17.52%

16.81%

16.62%

Operating Margin

-3.52%

0.82%

2.36%

0.86%

2.95%

EBITDA Margin

-2.22%

2.13%

3.78%

2.30%

4.34%

EBIT Margin

-3.52%

0.82%

2.36%

0.86%

2.95%

Pretax Margin

-1.45%

2.07%

2.44%

1.56%

2.81%

Net Profit Margin

-1.85%

1.78%

2.09%

1.21%

2.56%

R&D Expense/Revenue

3.16%

2.40%

2.20%

2.92%

3.14%

COGS/Revenue

85.67%

83.16%

82.48%

83.19%

83.38%

SG&A Expense/Revenue

13.96%

13.00%

12.61%

12.64%

10.65%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

-1.70%

1.66%

1.92%

1.18%

2.73%

Return on Equity

-4.31%

4.34%

5.43%

3.52%

7.93%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

-0.20

0.39

0.73

-0.22

0.08

Operating Cash Flow/Share 2

-0.10

0.46

0.80

-0.13

0.15

1-ExchangeRate: JPY to USD Period End Date

82.385362

82.88

93.44

98.77

99.535

2-ExchangeRate: JPY to USD Average for Period

82.385362

82.88

93.44

98.77

99.535

 

Current Market Multiples

Market Cap/Earnings (TTM)

-11.00

Market Cap/Equity (MRQ)

0.49

Market Cap/Revenue (TTM)

0.20

Market Cap/EBIT (TTM)

-8.83

Market Cap/EBITDA (TTM)

-20.16

Enterprise Value/Earnings (TTM)

-11.67

Enterprise Value/Equity (MRQ)

0.52

Enterprise Value/Revenue (TTM)

0.22

Enterprise Value/EBIT (TTM)

-9.37

Enterprise Value/EBITDA (TTM)

-21.39

 

 

 

 

 

Annual Income Statement

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

  Financial Glossary

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

Revenue

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

Total Revenue

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

 

 

 

 

 

 

    Cost of Revenue

1,083.6

1,045.2

986.9

1,017.2

961.7

Cost of Revenue, Total

1,083.6

1,045.2

986.9

1,017.2

961.7

Gross Profit

181.2

211.7

209.6

205.5

191.6

 

 

 

 

 

 

    Selling/General/Administrative Expense

72.0

65.3

60.5

72.0

52.5

    Labor & Related Expense

104.5

98.1

90.4

82.6

70.4

Total Selling/General/Administrative Expenses

176.5

163.4

150.9

154.6

122.9

Research & Development

40.0

30.1

26.4

35.7

36.2

    Impairment-Assets Held for Use

8.8

1.1

1.4

2.7

0.6

    Impairment-Assets Held for Sale

0.3

1.2

0.0

0.2

0.4

    Other Unusual Expense (Income)

0.1

5.4

2.6

1.9

-2.4

Unusual Expense (Income)

9.2

7.8

4.0

4.8

-1.4

Total Operating Expense

1,309.3

1,246.6

1,168.3

1,212.3

1,119.3

 

 

 

 

 

 

Operating Income

-44.5

10.3

28.3

10.5

34.0

 

 

 

 

 

 

        Interest Expense - Non-Operating

-4.7

-5.0

-4.8

-4.0

-3.2

    Interest Expense, Net Non-Operating

-4.7

-5.0

-4.8

-4.0

-3.2

        Interest Income - Non-Operating

1.6

0.4

0.4

0.7

0.7

        Investment Income - Non-Operating

13.8

20.1

5.2

0.8

0.8

    Interest/Investment Income - Non-Operating

15.4

20.4

5.7

1.5

1.6

Interest Income (Expense) - Net Non-Operating Total

10.7

15.5

0.8

-2.5

-1.7

Gain (Loss) on Sale of Assets

14.9

-

0.0

10.9

0.0

    Other Non-Operating Income (Expense)

0.5

0.2

0.1

0.2

0.1

Other, Net

0.5

0.2

0.1

0.2

0.1

Income Before Tax

-18.4

26.0

29.2

19.1

32.5

 

 

 

 

 

 

Total Income Tax

4.6

3.2

4.1

4.6

2.9

Income After Tax

-23.0

22.8

25.1

14.5

29.5

 

 

 

 

 

 

    Minority Interest

-0.3

-0.3

-0.1

0.3

0.0

Net Income Before Extraord Items

-23.3

22.5

25.0

14.8

29.6

Net Income

-23.3

22.5

25.0

14.8

29.6

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-0.1

-0.1

-0.1

0.0

0.0

Total Adjustments to Net Income

-0.1

-0.1

-0.1

0.0

0.0

Income Available to Common Excl Extraord Items

-23.4

22.4

25.0

14.8

29.5

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

-23.4

22.4

25.0

14.8

29.5

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Basic EPS Excl Extraord Items

-0.17

0.16

0.18

0.11

0.21

Basic/Primary EPS Incl Extraord Items

-0.17

0.16

0.18

0.11

0.21

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

-23.4

22.4

25.0

14.8

29.5

Diluted Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Diluted EPS Excl Extraord Items

-0.17

0.16

0.18

0.11

0.21

Diluted EPS Incl Extraord Items

-0.17

0.16

0.18

0.11

0.21

Dividends per Share - Common Stock Primary Issue

0.00

0.06

0.03

0.03

0.04

Gross Dividends - Common Stock

0.0

8.0

4.4

4.1

6.0

Interest Expense, Supplemental

4.7

5.0

4.8

4.0

3.2

Depreciation, Supplemental

16.3

16.5

17.0

17.6

16.0

Total Special Items

-5.7

7.8

4.0

-6.2

-1.4

Normalized Income Before Tax

-24.1

33.9

33.2

12.9

31.1

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-2.0

1.0

0.6

-1.5

-0.1

Inc Tax Ex Impact of Sp Items

2.6

4.2

4.6

3.1

2.8

Normalized Income After Tax

-26.8

29.7

28.6

9.8

28.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-27.1

29.3

28.4

10.1

28.3

 

 

 

 

 

 

Basic Normalized EPS

-0.20

0.21

0.21

0.07

0.21

Diluted Normalized EPS

-0.20

0.21

0.21

0.07

0.21

Research & Development Exp, Supplemental

-

52.2

40.6

60.9

58.8

Reported Operating Profit

-35.3

18.1

32.3

28.5

35.3

Reported Ordinary Profit

-36.0

13.2

30.2

23.6

30.9

Normalized EBIT

-35.3

18.1

32.3

15.3

32.6

Normalized EBITDA

-19.0

34.6

49.3

32.9

48.6

Interest Cost - Domestic

-

10.2

9.6

8.8

7.7

Service Cost - Domestic

-

17.9

16.8

15.2

13.7

Prior Service Cost - Domestic

-

-4.5

-3.6

-3.4

-3.0

Expected Return on Assets - Domestic

-

-7.2

-5.9

-1.2

-9.8

Actuarial Gains and Losses - Domestic

-

17.3

15.5

10.6

5.8

Transition Costs - Domestic

-

3.8

3.5

3.3

2.9

Domestic Pension Plan Expense

-

37.5

35.9

33.3

17.3

Total Pension Expense

-

37.5

35.9

33.3

17.3

Discount Rate - Domestic

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

-

0.00%

0.00%

0.00%

2.00%

Total Plan Interest Cost

-

10.2

9.6

8.8

7.7

Total Plan Service Cost

-

17.9

16.8

15.2

13.7

Total Plan Expected Return

-

-7.2

-5.9

-1.2

-9.8

 

 

 

 

Interim Income Statement

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

  Financial Glossary

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

79.208816

77.302742

77.752043

81.605269

82.241044

 

 

 

 

 

 

    Net Sales

588.9

246.7

237.2

192.6

602.4

Revenue

588.9

246.7

237.2

192.6

602.4

Total Revenue

588.9

246.7

237.2

192.6

602.4

 

 

 

 

 

 

    Cost of Revenue

497.5

217.4

202.9

166.3

493.9

Cost of Revenue, Total

497.5

217.4

202.9

166.3

493.9

Gross Profit

91.3

29.3

34.3

26.2

108.5

 

 

 

 

 

 

    Selling/General/Administrative Expense

57.0

55.8

56.4

47.6

16.9

    Labor & Related Expense

-

-

-

-

25.1

Total Selling/General/Administrative Expenses

57.0

55.8

56.4

47.6

42.0

Research & Development

-

-

-

-

11.7

    Impairment-Assets Held for Use

-

-

-

-

0.7

    Impairment-Assets Held for Sale

-

0.0

0.5

0.2

0.8

    Other Unusual Expense (Income)

2.2

-9.4

0.0

0.0

4.8

Unusual Expense (Income)

2.2

-9.3

0.5

0.2

6.3

Total Operating Expense

556.8

263.9

259.7

214.2

553.8

 

 

 

 

 

 

Operating Income

32.1

-17.1

-22.5

-21.6

48.5

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.9

-1.3

-1.3

-1.2

-1.3

    Interest Expense, Net Non-Operating

-0.9

-1.3

-1.3

-1.2

-1.3

        Interest Income - Non-Operating

0.2

0.5

0.6

0.3

0.1

        Investment Income - Non-Operating

5.7

0.8

-3.9

10.8

5.5

    Interest/Investment Income - Non-Operating

5.9

1.3

-3.3

11.1

5.6

Interest Income (Expense) - Net Non-Operating Total

5.0

0.0

-4.6

9.9

4.4

    Other Non-Operating Income (Expense)

0.3

-0.4

0.2

0.0

-0.3

Other, Net

0.3

-0.4

0.2

0.0

-0.3

Income Before Tax

37.3

-17.5

-27.0

-11.8

52.7

 

 

 

 

 

 

Total Income Tax

1.4

1.8

0.4

1.0

1.6

Income After Tax

36.0

-19.3

-27.4

-12.8

51.1

 

 

 

 

 

 

    Minority Interest

-0.2

0.0

0.1

-0.1

-0.1

Net Income Before Extraord Items

35.8

-19.3

-27.4

-12.9

51.0

Net Income

35.8

-19.3

-27.4

-12.9

51.0

 

 

 

 

 

 

    Miscellaneous Earnings Adjustment

-

0.0

0.0

0.0

0.0

Total Adjustments to Net Income

-

0.0

0.0

0.0

0.0

Income Available to Common Excl Extraord Items

35.8

-19.3

-27.4

-12.9

50.9

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

35.8

-19.3

-27.4

-12.9

50.9

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Basic EPS Excl Extraord Items

0.26

-0.14

-0.20

-0.09

0.37

Basic/Primary EPS Incl Extraord Items

0.26

-0.14

-0.20

-0.09

0.37

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

35.8

-19.3

-27.4

-12.9

50.9

Diluted Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Diluted EPS Excl Extraord Items

0.26

-0.14

-0.20

-0.09

0.37

Diluted EPS Incl Extraord Items

0.26

-0.14

-0.20

-0.09

0.37

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.06

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

8.4

Interest Expense, Supplemental

0.9

1.3

1.3

1.2

1.3

Depreciation, Supplemental

3.9

4.4

4.6

3.5

5.7

Total Special Items

2.2

-9.3

0.5

0.2

6.3

Normalized Income Before Tax

39.5

-26.8

-26.5

-11.6

58.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.1

-3.3

0.2

0.1

0.2

Inc Tax Ex Impact of Sp Items

1.5

-1.4

0.6

1.1

1.7

Normalized Income After Tax

38.0

-25.4

-27.1

-12.6

57.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

37.8

-25.4

-27.1

-12.7

57.0

 

 

 

 

 

 

Basic Normalized EPS

0.27

-0.18

-0.20

-0.09

0.41

Diluted Normalized EPS

0.27

-0.18

-0.20

-0.09

0.41

Research & Development Exp, Supplemental

-

-

-

-

11.7

Reported Operating Profit

34.3

-26.5

-22.1

-21.4

54.8

Reported Ordinary Profit

39.5

-26.8

-26.6

-22.4

58.9

Normalized EBIT

34.3

-26.5

-22.1

-21.4

54.8

Normalized EBITDA

38.1

-22.1

-17.5

-17.8

60.5

 

 

 

 

Annual Balance Sheet

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

  Financial Glossary

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

82.88

93.44

98.77

99.535

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

43.8

71.9

163.0

174.5

41.3

    Short Term Investments

2.0

213.1

33.9

1.7

38.8

Cash and Short Term Investments

45.7

285.0

196.8

176.3

80.1

        Accounts Receivable - Trade, Gross

547.9

554.8

519.9

509.8

518.7

        Provision for Doubtful Accounts

-2.7

-2.5

-2.4

-12.7

-2.1

    Trade Accounts Receivable - Net

545.2

552.3

517.6

497.1

516.6

    Other Receivables

14.7

0.0

-

-

-

Total Receivables, Net

559.9

552.3

517.6

497.1

516.6

    Inventories - Finished Goods

73.1

75.0

70.1

96.0

78.1

    Inventories - Work In Progress

184.8

182.1

142.6

185.4

193.6

    Inventories - Raw Materials

38.1

40.2

35.6

47.0

49.3

Total Inventory

296.0

297.2

248.3

328.4

321.0

Prepaid Expenses

8.8

12.3

10.0

5.2

7.9

    Deferred Income Tax - Current Asset

3.8

3.8

3.1

3.4

3.4

    Other Current Assets

9.4

6.6

6.8

8.3

7.6

Other Current Assets, Total

13.2

10.4

9.9

11.7

11.0

Total Current Assets

923.6

1,157.3

982.5

1,018.7

936.7

 

 

 

 

 

 

        Buildings

320.7

314.9

273.2

258.1

262.6

        Land/Improvements

23.7

23.7

20.5

19.4

19.5

        Machinery/Equipment

304.0

314.9

280.4

285.0

287.2

        Construction in Progress

0.2

0.4

0.0

0.0

0.0

        Leases

3.2

2.6

2.2

1.1

0.0

    Property/Plant/Equipment - Gross

651.9

656.4

576.3

563.6

569.2

    Accumulated Depreciation

-542.9

-542.7

-472.4

-457.3

-460.7

Property/Plant/Equipment - Net

109.0

113.7

103.9

106.3

108.5

Intangibles, Net

7.5

8.3

6.2

7.0

9.6

    LT Investment - Affiliate Companies

-

25.9

-

-

-

    LT Investments - Other

65.1

75.6

117.4

99.4

129.6

Long Term Investments

65.1

101.5

117.4

99.4

129.6

Note Receivable - Long Term

0.8

0.2

0.2

0.3

0.2

    Deferred Income Tax - Long Term Asset

14.6

15.2

13.5

12.6

13.2

    Other Long Term Assets

31.9

35.0

32.1

25.1

22.8

Other Long Term Assets, Total

46.5

50.2

45.6

37.7

36.0

Total Assets

1,152.5

1,431.1

1,255.8

1,269.4

1,220.7

 

 

 

 

 

 

Accounts Payable

309.3

326.5

263.2

293.9

340.9

Accrued Expenses

25.0

25.6

25.4

25.0

26.0

Notes Payable/Short Term Debt

15.2

21.4

15.5

55.7

16.0

Current Portion - Long Term Debt/Capital Leases

25.8

227.2

13.8

40.5

23.4

    Customer Advances

23.1

27.0

20.8

17.2

14.2

    Security Deposits

2.5

2.4

2.2

1.8

1.8

    Income Taxes Payable

3.6

3.1

3.2

3.1

3.3

    Other Current Liabilities

60.5

47.3

51.0

41.6

47.2

Other Current liabilities, Total

89.7

79.8

77.2

63.7

66.4

Total Current Liabilities

464.9

680.5

395.1

478.7

472.7

 

 

 

 

 

 

    Long Term Debt

13.4

35.5

232.3

232.3

170.0

    Capital Lease Obligations

1.7

2.0

1.6

1.1

0.0

Total Long Term Debt

15.2

37.5

233.9

233.4

170.0

Total Debt

56.2

286.0

263.3

329.6

209.4

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

1.2

8.7

15.5

10.6

24.3

Deferred Income Tax

1.2

8.7

15.5

10.6

24.3

Minority Interest

4.6

4.3

3.6

3.3

3.6

    Reserves

7.0

7.0

2.5

0.0

-

    Pension Benefits - Underfunded

153.7

148.9

127.5

115.2

111.9

    Other Long Term Liabilities

7.9

7.7

6.5

8.3

8.6

Other Liabilities, Total

168.5

163.7

136.6

123.4

120.5

Total Liabilities

654.4

894.6

784.7

849.4

791.1

 

 

 

 

 

 

    Common Stock

178.5

177.4

157.4

148.9

147.7

Common Stock

178.5

177.4

157.4

148.9

147.7

Additional Paid-In Capital

200.3

199.1

176.6

167.1

165.8

Retained Earnings (Accumulated Deficit)

117.9

147.8

114.9

89.4

80.7

Treasury Stock - Common

-0.8

-0.8

-0.7

-0.6

-0.6

Unrealized Gain (Loss)

2.4

13.1

22.9

15.3

35.7

    Translation Adjustment

-0.3

-0.1

0.0

-0.1

0.2

Other Equity, Total

-0.3

-0.1

0.0

-0.1

0.2

Total Equity

498.0

536.4

471.1

420.0

429.6

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,152.4

1,431.0

1,255.8

1,269.4

1,220.7

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

137.8

137.8

137.8

137.8

137.8

Total Common Shares Outstanding

137.8

137.8

137.8

137.8

137.8

Treasury Shares - Common Stock Primary Issue

0.2

0.2

0.2

0.2

0.2

Employees

-

3,766

3,760

3,770

3,751

Number of Common Shareholders

-

8,419

11,443

12,044

10,915

Deferred Revenue - Current

23.1

27.0

20.8

17.2

14.2

Total Long Term Debt, Supplemental

-

261.9

245.6

272.6

193.4

Long Term Debt Maturing within 1 Year

-

226.4

13.3

40.2

23.4

Long Term Debt Maturing in Year 2

-

23.7

200.8

12.6

155.0

Long Term Debt Maturing in Year 3

-

11.8

21.0

190.0

12.1

Long Term Debt Maturing in Year 4

-

0.0

10.5

19.9

1.2

Long Term Debt Maturing in Year 5

-

0.0

0.0

9.9

1.7

Long Term Debt Maturing in 2-3 Years

-

35.5

221.8

202.6

167.1

Long Term Debt Maturing in 4-5 Years

-

0.0

10.5

29.8

2.9

Long Term Debt Matur. in Year 6 & Beyond

-

0.0

0.0

0.0

0.0

Total Capital Leases, Supplemental

-

2.7

2.2

46.5

5.0

Capital Lease Payments Due in Year 1

-

0.8

0.5

40.8

-

Capital Lease Payments Due in Year 2

-

0.8

0.5

0.3

-

Capital Lease Payments Due in Year 3

-

0.7

0.5

0.3

-

Capital Lease Payments Due in Year 4

-

0.3

0.4

0.3

-

Capital Lease Payments Due in Year 5

-

0.2

0.1

0.2

-

Capital Lease Payments Due in 2-3 Years

-

1.4

1.0

0.6

-

Capital Lease Payments Due in 4-5 Years

-

0.5

0.5

0.4

-

Cap. Lease Pymts. Due in Year 6 & Beyond

-

0.0

0.1

4.8

5.0

Pension Obligation - Domestic

-

525.1

472.2

446.7

439.1

Plan Assets - Domestic

-

293.0

264.8

218.8

257.9

Funded Status - Domestic

-

-232.1

-207.3

-228.0

-181.2

Total Funded Status

-

-232.1

-207.3

-228.0

-181.2

Discount Rate - Domestic

-

2.00%

2.00%

2.00%

2.00%

Expected Rate of Return - Domestic

-

0.00%

0.00%

0.00%

2.00%

Prepaid Benefits - Domestic

-

29.3

27.2

20.6

16.2

Accrued Liabilities - Domestic

-

-146.8

-124.7

-113.0

-110.0

Other Assets, Net - Domestic

-

114.6

109.8

135.5

87.4

Net Assets Recognized on Balance Sheet

-

-2.8

12.3

43.1

-6.4

Total Plan Obligations

-

525.1

472.2

446.7

439.1

Total Plan Assets

-

293.0

264.8

218.8

257.9

 

 

 

 

Interim Balance Sheet

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

  Financial Glossary

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

76.94

77.08

80.76

82.88

 

 

 

 

 

 

    Cash & Equivalents

43.8

43.9

46.5

45.3

71.9

    Short Term Investments

2.0

2.1

2.1

2.0

213.1

Cash and Short Term Investments

45.7

46.0

48.6

47.3

285.0

        Accounts Receivable - Trade, Gross

547.9

310.5

309.1

310.7

554.8

        Provision for Doubtful Accounts

-2.7

-1.9

-2.0

-2.0

-2.5

    Trade Accounts Receivable - Net

545.2

308.6

307.1

308.7

552.3

    Other Receivables

14.7

225.1

307.0

338.1

-

Total Receivables, Net

559.9

533.6

614.1

646.7

552.3

    Inventories - Finished Goods

73.1

89.1

80.8

82.1

75.0

    Inventories - Work In Progress

184.8

319.4

282.6

220.4

182.1

    Inventories - Raw Materials

38.1

45.8

43.5

43.1

40.2

Total Inventory

296.0

454.3

406.8

345.6

297.2

Prepaid Expenses

8.8

8.7

7.7

7.9

12.3

    Deferred Income Tax - Current Asset

3.8

3.6

4.2

3.2

3.8

    Other Current Assets

9.4

18.3

15.4

15.0

6.6

Other Current Assets, Total

13.2

21.9

19.5

18.2

10.4

Total Current Assets

923.6

1,064.6

1,096.8

1,065.6

1,157.3

 

 

 

 

 

 

Property/Plant/Equipment - Net

109.0

116.4

119.6

115.0

113.7

Intangibles, Net

7.5

7.7

8.5

8.0

8.3

    LT Investments - Other

65.1

63.5

63.6

67.4

101.5

Long Term Investments

65.1

63.5

63.6

67.4

101.5

Note Receivable - Long Term

0.8

0.2

0.2

0.2

0.2

    Deferred Income Tax - Long Term Asset

14.6

16.3

16.7

15.6

15.2

    Other Long Term Assets

31.9

35.4

35.8

34.8

35.0

Other Long Term Assets, Total

46.5

51.7

52.5

50.4

50.2

Total Assets

1,152.4

1,304.0

1,341.1

1,306.6

1,431.0

 

 

 

 

 

 

Accounts Payable

309.3

223.1

206.0

213.0

326.5

Accrued Expenses

25.0

31.7

22.7

26.3

25.6

Notes Payable/Short Term Debt

15.2

27.3

31.8

25.6

21.4

Current Portion - Long Term Debt/Capital Leases

25.8

209.4

245.0

233.6

227.2

    Customer Advances

23.1

72.8

50.6

35.7

27.0

    Security Deposits

2.5

7.2

2.4

10.3

2.4

    Income Taxes Payable

3.6

2.7

3.1

1.2

3.1

    Other Current Liabilities

60.5

32.7

45.0

25.4

47.3

Other Current liabilities, Total

89.7

115.5

101.2

72.5

79.8

Total Current Liabilities

464.9

607.0

606.7

571.0

680.5

 

 

 

 

 

 

    Long Term Debt

13.4

16.8

37.0

37.9

35.5

    Capital Lease Obligations

1.7

1.8

1.9

1.8

2.0

Total Long Term Debt

15.2

18.7

38.9

39.7

37.5

Total Debt

56.2

255.3

315.7

298.9

286.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

1.2

0.0

0.1

2.9

8.7

Deferred Income Tax

1.2

0.0

0.1

2.9

8.7

Minority Interest

4.6

4.7

4.7

4.6

4.3

    Reserves

4.2

4.5

4.6

4.4

4.2

    Pension Benefits - Underfunded

153.7

164.0

161.9

153.1

148.9

    Other Long Term Liabilities

10.7

11.4

11.2

10.7

10.5

Other Liabilities, Total

168.5

179.8

177.7

168.1

163.7

Total Liabilities

654.4

810.2

828.1

786.4

894.6

 

 

 

 

 

 

    Common Stock

178.5

191.1

190.8

182.1

177.4

Common Stock

178.5

191.1

190.8

182.1

177.4

Additional Paid-In Capital

200.3

214.5

214.1

204.4

199.1

Retained Earnings (Accumulated Deficit)

117.9

89.4

108.7

130.1

147.8

Treasury Stock - Common

-0.8

-0.9

-0.9

-0.9

-0.8

Unrealized Gain (Loss)

2.4

0.0

0.4

4.6

13.1

    Translation Adjustment

-0.3

-0.3

-0.1

-0.1

-0.1

Other Equity, Total

-0.3

-0.3

-0.1

-0.1

-0.1

Total Equity

498.0

493.9

512.9

520.2

536.4

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,152.4

1,304.0

1,341.1

1,306.6

1,431.0

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

137.8

137.8

137.8

137.8

137.8

Total Common Shares Outstanding

137.8

137.8

137.8

137.8

137.8

Treasury Shares - Common Stock Primary Issue

0.2

0.2

0.2

0.2

0.2

Employees

-

-

-

-

3,766

Deferred Revenue - Current

23.1

72.8

50.6

35.7

27.0

 

 

 

 

Annual Cash Flows

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

  Financial Glossary

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

-18.4

26.0

29.1

19.0

32.4

    Depreciation

16.3

16.5

17.0

17.6

16.0

Depreciation/Depletion

16.3

16.5

17.0

17.6

16.0

    Unusual Items

-17.6

-18.3

0.0

-14.9

0.3

    Equity in Net Earnings (Loss)

-4.0

-2.9

-2.2

-3.6

-2.5

    Other Non-Cash Items

10.5

8.0

2.6

13.2

-11.7

Non-Cash Items

-11.1

-13.1

0.4

-5.3

-13.8

    Accounts Receivable

10.5

30.3

18.8

11.9

-6.0

    Inventories

3.1

-16.9

99.9

-4.9

22.5

    Accounts Payable

-20.0

28.9

-47.7

-48.6

-24.4

    Other Operating Cash Flow

4.5

-10.9

-6.3

-7.4

-8.8

Changes in Working Capital

-1.9

31.3

64.6

-49.1

-16.7

Cash from Operating Activities

-15.1

60.6

111.1

-17.7

17.9

 

 

 

 

 

 

    Purchase of Fixed Assets

-13.6

-8.4

-10.0

-11.5

-8.8

Capital Expenditures

-13.6

-8.4

-10.0

-11.5

-8.8

    Sale of Fixed Assets

14.6

0.0

0.0

15.6

0.0

    Sale/Maturity of Investment

38.0

29.6

1.9

0.0

2.1

    Investment, Net

0.0

0.0

0.0

0.0

-

    Purchase of Investments

-4.8

-1.5

-2.3

-3.7

-0.1

    Sale of Intangible Assets

-

-

-

-

0.0

    Other Investing Cash Flow

-18.7

-1.5

-0.8

0.9

-3.4

Other Investing Cash Flow Items, Total

29.1

26.6

-1.2

12.7

-1.4

Cash from Investing Activities

15.5

18.2

-11.2

1.3

-10.2

 

 

 

 

 

 

    Other Financing Cash Flow

-0.9

-0.7

-0.3

-0.1

-0.1

Financing Cash Flow Items

-0.9

-0.7

-0.3

-0.1

-0.1

    Cash Dividends Paid - Common

-8.7

-4.8

-4.4

-6.8

-6.0

Total Cash Dividends Paid

-8.7

-4.8

-4.4

-6.8

-6.0

    Short Term Debt, Net

-6.6

3.7

-43.6

38.9

3.8

        Long Term Debt Issued

2.5

0.0

0.0

99.7

0.0

        Long Term Debt Reduction

-237.5

-14.5

-42.7

-23.3

-1.4

    Long Term Debt, Net

-234.9

-14.5

-42.7

76.3

-1.4

Issuance (Retirement) of Debt, Net

-241.5

-10.8

-86.3

115.2

2.4

Cash from Financing Activities

-251.0

-16.2

-91.1

108.3

-3.6

 

 

 

 

 

 

Foreign Exchange Effects

-0.4

-1.9

-0.4

-1.3

-1.0

Net Change in Cash

-251.0

60.7

8.5

90.5

3.1

 

 

 

 

 

 

Net Cash - Beginning Balance

292.0

208.4

183.7

79.4

66.7

Net Cash - Ending Balance

41.0

269.1

192.2

169.9

69.8

Cash Interest Paid

5.1

5.0

4.9

4.1

3.5

Cash Taxes Paid

3.0

4.1

3.9

4.0

1.8

 

 

 

 

Interim Cash Flows

Standardized

Financials in: USD (mil)

 

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

 

 

 

 

 

  Financial Glossary

 

 

 

31-Mar-2012

30-Sep-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

12 Months

6 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
30-Sep-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

79.672811

85.691434

86.812446

88.962162

 

 

 

 

 

 

Net Income/Starting Line

-18.4

-38.4

26.0

-24.2

-30.5

    Depreciation

16.3

8.1

16.5

10.9

6.8

Depreciation/Depletion

16.3

8.1

16.5

10.9

6.8

    Unusual Items

-17.6

-11.2

-18.3

-21.9

0.0

    Equity in Net Earnings (Loss)

-4.0

-1.1

-2.9

-0.5

-0.6

    Other Non-Cash Items

10.5

3.3

8.0

5.9

2.8

Non-Cash Items

-11.1

-9.0

-13.1

-16.6

2.2

    Accounts Receivable

10.5

278.1

30.3

275.1

280.6

    Inventories

3.1

-84.9

-16.9

-121.8

-58.9

    Accounts Payable

-20.0

-140.3

28.9

-60.9

-91.9

    Other Operating Cash Flow

4.5

9.9

-10.9

29.6

12.3

Changes in Working Capital

-1.9

62.8

31.3

122.0

142.1

Cash from Operating Activities

-15.1

23.5

60.6

92.1

120.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-13.6

-6.1

-8.4

-5.3

-4.9

Capital Expenditures

-13.6

-6.1

-8.4

-5.3

-4.9

    Sale of Fixed Assets

14.6

-

0.0

-

-

    Sale/Maturity of Investment

38.0

35.6

29.6

0.3

0.3

    Investment, Net

0.0

0.0

0.0

0.0

0.0

    Purchase of Investments

-4.8

-4.1

-1.5

-1.5

-1.4

    Other Investing Cash Flow

-18.7

-298.1

-1.5

-3.4

-0.8

Other Investing Cash Flow Items, Total

29.1

-266.6

26.6

-4.5

-1.8

Cash from Investing Activities

15.5

-272.6

18.2

-9.8

-6.7

 

 

 

 

 

 

    Other Financing Cash Flow

-0.9

-0.4

-0.7

-0.4

-0.3

Financing Cash Flow Items

-0.9

-0.4

-0.7

-0.4

-0.3

    Cash Dividends Paid - Common

-8.7

-8.6

-4.8

-4.7

-4.6

Total Cash Dividends Paid

-8.7

-8.6

-4.8

-4.7

-4.6

    Short Term Debt, Net

-6.6

8.5

3.7

5.8

4.5

        Long Term Debt Issued

2.5

2.5

-

-

0.0

        Long Term Debt Reduction

-237.5

-2.9

-14.5

-13.8

-13.1

    Long Term Debt, Net

-234.9

-0.4

-14.5

-13.8

-13.1

Issuance (Retirement) of Debt, Net

-241.5

8.1

-10.8

-8.1

-8.6

Cash from Financing Activities

-251.0

-0.8

-16.2

-13.3

-13.5

 

 

 

 

 

 

Foreign Exchange Effects

-0.4

-0.5

-1.9

-2.0

-1.6

Net Change in Cash

-251.0

-250.5

60.7

67.0

98.8

 

 

 

 

 

 

Net Cash - Beginning Balance

292.0

289.4

208.4

205.7

200.8

Net Cash - Ending Balance

41.0

38.9

269.1

272.7

299.5

Cash Interest Paid

5.1

2.5

5.0

3.3

2.4

Cash Taxes Paid

3.0

1.8

4.1

3.4

2.3

 

 

 

 

Annual Income Statement

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

Total Revenue

1,264.8

1,256.9

1,196.6

1,222.8

1,153.3

 

 

 

 

 

 

    Cost of Sales

1,083.6

1,045.2

986.9

1,004.0

959.0

    Res-Doubt.Acct.Allow

0.5

0.1

0.5

11.2

0.0

    Emp.& Direc. Salary

90.9

86.0

79.2

72.8

64.9

    Res-Accr.Retire Bft.

13.0

11.6

10.6

9.3

4.9

    Provision of reserve for directors' reti

0.6

0.6

0.6

0.6

0.6

    Research & Development expenses, SGA

40.0

30.1

26.4

35.7

36.2

    Other SG&A Cost

71.5

65.2

60.1

60.8

52.5

    SP Rev-Doubt.Acct.Allow

0.0

-0.4

-0.2

-0.1

-2.2

    SP Other Special Gains

0.0

-0.2

0.0

-1.0

-0.2

    SP Val.Loss-Invest.Sec

0.3

1.2

0.0

0.1

0.2

    SP Val.Loss-Inventory

-

-

0.0

13.3

0.0

    SP Spec. prov. for doubtful acts

-

-

0.0

3.0

0.0

    SP Product Failure Provision

-

-

-

-

0.0

    SP Provi. for reserve for environmental

-

0.0

2.5

0.0

-

    SP Impairment Loss

8.3

0.7

0.0

0.2

0.1

    SP L-val. of golf membership

-

0.0

0.0

0.1

0.1

    SP L-adjust. for changes of accts assets

0.0

4.3

0.0

-

-

    SP Loss on disaster

0.0

1.7

0.0

-

-

    SP Other Special loss

0.1

0.0

0.3

0.0

0.0

    NOP L-retire.Fixed Asset(Non-Op)

0.5

0.4

1.3

2.6

0.5

    NOP Val.Loss-Inventory

-

-

-

0.0

2.7

Total Operating Expense

1,309.3

1,246.6

1,168.3

1,212.3

1,119.3

 

 

 

 

 

 

    SP Sale Gain-Fixed Asst

14.9

-

0.0

15.2

0.0

    SP Sale Gain-Invest.Sec.

11.3

22.9

1.8

0.0

0.0

    SP Disposal-Inventory

-

-

0.0

-4.3

0.0

    SP Sale Loss-Invest. Sec.

0.0

-2.7

-0.1

0.0

-0.3

    NOP Interest Income

1.6

0.4

0.4

0.7

0.7

    NOP Dividend Income

1.5

2.1

1.8

2.0

2.1

    NOP Exchange Gain

-

-

-

-

0.0

    NOP Equity in earnings of affiliates

4.0

2.9

2.2

3.6

2.5

    NOP Patent Income

0.1

0.1

0.2

0.3

0.3

    NOP Other non-operating income

0.9

0.8

0.6

0.6

0.7

    NOP Interest expenses

-4.7

-5.0

-4.8

-4.0

-3.2

    NOP Exchange Loss

-3.0

-5.1

-0.4

-4.8

-3.5

    NOP Other Non-op.Expense

-0.4

-0.7

-0.7

-0.7

-0.9

Net Income Before Taxes

-18.4

26.0

29.2

19.1

32.5

 

 

 

 

 

 

Provision for Income Taxes

4.6

3.2

4.1

4.6

2.9

Net Income After Taxes

-23.0

22.8

25.1

14.5

29.5

 

 

 

 

 

 

    Minority Interest

-0.3

-0.3

-0.1

0.3

0.0

Net Income Before Extra. Items

-23.3

22.5

25.0

14.8

29.6

Net Income

-23.3

22.5

25.0

14.8

29.6

 

 

 

 

 

 

    Rounding Adjustment

-0.1

-0.1

-0.1

0.0

0.0

Income Available to Com Excl ExtraOrd

-23.4

22.4

25.0

14.8

29.5

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

-23.4

22.4

25.0

14.8

29.5

 

 

 

 

 

 

Basic Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Basic EPS Excluding ExtraOrdinary Items

-0.17

0.16

0.18

0.11

0.21

Basic EPS Including ExtraOrdinary Item

-0.17

0.16

0.18

0.11

0.21

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

-23.4

22.4

25.0

14.8

29.5

Diluted Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Diluted EPS Excluding ExtraOrd Items

-0.17

0.16

0.18

0.11

0.21

Diluted EPS Including ExtraOrd Items

-0.17

0.16

0.18

0.11

0.21

DPS-Common Stock

0.00

0.06

0.03

0.03

0.04

Gross Dividends - Common Stock

0.0

8.0

4.4

4.1

6.0

Normalized Income Before Taxes

-24.1

33.9

33.2

12.9

31.1

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

2.6

4.2

4.6

3.1

2.8

Normalized Income After Taxes

-26.8

29.7

28.6

9.8

28.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-27.1

29.3

28.4

10.1

28.3

 

 

 

 

 

 

Basic Normalized EPS

-0.20

0.21

0.21

0.07

0.21

Diluted Normalized EPS

-0.20

0.21

0.21

0.07

0.21

R&D expense, supplemental

-

30.1

26.4

35.7

36.2

R & D Expenses (COGS)

-

22.1

14.2

25.2

22.6

Interest expense, supplemental

4.7

5.0

4.8

4.0

3.2

Depreciation, supplemental

16.3

16.5

17.0

17.6

16.0

Reported Operating Profit

-35.3

18.1

32.3

28.5

35.3

Reported Ordinary Profit

-36.0

13.2

30.2

23.6

30.9

Service Cost

-

17.9

16.8

15.2

13.7

Interest Cost

-

10.2

9.6

8.8

7.7

Expected Return on Plan Assets

-

-7.2

-5.9

-1.2

-9.8

Prior Service Cost

-

-4.5

-3.6

-3.4

-3.0

Actuarial Gains & Losses

-

17.3

15.5

10.6

5.8

Expenses due to Acct. Change

-

3.8

3.5

3.3

2.9

Domestic Pension Plan Expense

-

37.5

35.9

33.3

17.3

Total Pension Expense

-

37.5

35.9

33.3

17.3

Discount rate

-

2.00%

2.00%

2.00%

2.00%

Expected rate of return

-

0.00%

0.00%

0.00%

2.00%

 

 

 

 

Interim Income Statement

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

79.208816

77.302742

77.752043

81.605269

82.241044

 

 

 

 

 

 

    Net sales

588.9

246.7

237.2

192.6

602.4

Total Revenue

588.9

246.7

237.2

192.6

602.4

 

 

 

 

 

 

    Cost of Sales

497.5

217.4

202.9

166.3

493.9

    Selling, general and administrative expe

57.0

55.8

56.4

47.6

-

    Payroll

-

-

-

-

22.1

    Reserve for Retirement Benefit

-

-

-

-

2.9

    Reserve for Director Retirement Bonus

-

-

-

-

0.1

    Research & Development

-

-

-

-

11.7

    Other SGA

-

-

-

-

16.9

    SP Rev-Doubt.Acct.Allow

-

-

0.0

0.0

-

    SP Other Special Gains

-0.4

-15.2

0.0

0.0

-

    SP L on valuation of investment securiti

-

0.0

0.5

0.2

0.8

    SP L on adj. for changes of acc. assets

-

-

0.0

0.0

0.0

    SP Impairment Loss

-

-

-

-

0.7

    SP Other Loss

2.6

5.8

0.0

0.0

4.8

Total Operating Expense

556.8

263.9

259.7

214.2

553.8

 

 

 

 

 

 

    SP Sale Gain-Invest.Sec

0.0

0.0

0.0

10.9

0.0

    NOP Interest Income

0.2

0.5

0.6

0.3

0.1

    NOP Dividend Income

0.0

0.3

0.0

1.1

0.0

    NOP Gain-Equity Method

2.5

0.3

0.7

0.4

2.4

    NOP Foreign exchange gains

3.1

0.2

-

-

3.1

    NOP Other gains

0.3

0.0

0.4

0.4

-

    NOP Interest Expense

-0.9

-1.3

-1.3

-1.2

-1.3

    NOP Loss-Equity Method

-

-

-

0.0

-

    NOP Exchange Loss

-

-

-4.7

-1.6

-

    NOP Other loss

-

-0.4

-0.2

-0.4

-0.3

Net Income Before Taxes

37.3

-17.5

-27.0

-11.8

52.7

 

 

 

 

 

 

Provision for Income Taxes

1.4

1.8

0.4

1.0

1.6

Net Income After Taxes

36.0

-19.3

-27.4

-12.8

51.1

 

 

 

 

 

 

    Minority interests in loss

-0.2

0.0

0.1

-0.1

-0.1

Net Income Before Extra. Items

35.8

-19.3

-27.4

-12.9

51.0

Net Income

35.8

-19.3

-27.4

-12.9

51.0

 

 

 

 

 

 

    Rounding Adjustment

-

0.0

0.0

0.0

0.0

Income Available to Com Excl ExtraOrd

35.8

-19.3

-27.4

-12.9

50.9

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

35.8

-19.3

-27.4

-12.9

50.9

 

 

 

 

 

 

Basic Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Basic EPS Excluding ExtraOrdinary Items

0.26

-0.14

-0.20

-0.09

0.37

Basic EPS Including ExtraOrdinary Item

0.26

-0.14

-0.20

-0.09

0.37

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

35.8

-19.3

-27.4

-12.9

50.9

Diluted Weighted Average Shares

137.8

137.8

137.8

137.8

137.8

Diluted EPS Excluding ExtraOrd Items

0.26

-0.14

-0.20

-0.09

0.37

Diluted EPS Including ExtraOrd Items

0.26

-0.14

-0.20

-0.09

0.37

DPS-Common Stock

0.00

0.00

0.00

0.00

0.06

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

8.4

Normalized Income Before Taxes

39.5

-26.8

-26.5

-11.6

58.9

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

1.5

-1.4

0.6

1.1

1.7

Normalized Income After Taxes

38.0

-25.4

-27.1

-12.6

57.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

37.8

-25.4

-27.1

-12.7

57.0

 

 

 

 

 

 

Basic Normalized EPS

0.27

-0.18

-0.20

-0.09

0.41

Diluted Normalized EPS

0.27

-0.18

-0.20

-0.09

0.41

Interest expense, supplemental

0.9

1.3

1.3

1.2

1.3

R&D expense, supplemental

-

-

-

-

11.7

Depreciation, supplemental

3.9

4.4

4.6

3.5

5.7

Reported Operating Profit

34.3

-26.5

-22.1

-21.4

54.8

Reported Ordinary Profit

39.5

-26.8

-26.6

-22.4

58.9

 

 

 

 

Annual Balance Sheet

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

82.88

93.44

98.77

99.535

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and Deposit

43.8

71.9

163.0

174.5

41.3

    Note&Acct.Rcvbl.

547.9

554.8

519.9

509.8

518.7

    Marketable Sec.

2.0

213.1

33.9

1.7

38.8

    Inventories - merchandise&finished goods

73.1

75.0

70.1

96.0

78.1

    Inventories - work-in-process

184.8

182.1

142.6

185.4

193.6

    Inventories - raw materials&supplies

38.1

40.2

35.6

47.0

49.3

    Advance Payment

8.8

12.3

10.0

5.2

7.9

    Dfrd. Tax Asset

3.8

3.8

3.1

3.4

3.4

    Short-term loans receivable from subsi.

14.7

0.0

-

-

-

    Other Curr.Asset

9.4

6.6

6.8

8.3

7.6

    Doubtful Account

-2.7

-2.5

-2.4

-12.7

-2.1

Total Current Assets

923.6

1,157.3

982.5

1,018.7

936.7

 

 

 

 

 

 

    Bldg.&Structure

320.7

314.9

273.2

258.1

262.6

    Accum. depr - bldg&struc

-254.4

-249.0

-213.0

-197.7

-199.5

    Machinery&Equip

109.2

111.4

99.9

99.4

100.3

    Accum. depr - machin&vehicles

-102.8

-101.5

-89.8

-87.7

-88.4

    Tool and Fixture

194.9

203.5

180.6

185.6

186.9

    Accum. depr - tools, furn, fixtur

-184.1

-191.2

-169.1

-171.8

-172.8

    Land

23.7

23.7

20.5

19.4

19.5

    Lease

3.2

2.6

2.2

1.1

0.0

    Depre.- Lease

-1.5

-1.0

-0.4

-0.1

0.0

    Construction

0.2

0.4

0.0

0.0

0.0

    Intangible Asset

7.5

8.3

6.2

7.0

9.6

    Investment Sec.

65.1

75.6

117.4

99.4

129.6

    Equity secs.-nonconsolidated affil.

-

25.9

-

-

-

    LT Loan

0.8

0.2

0.2

0.3

0.2

    Dfrd. Tax Asset

14.6

15.2

13.5

12.6

13.2

    Other Assets

51.1

54.0

49.4

31.2

26.1

    Doubtful Account

-19.2

-19.0

-17.2

-6.1

-3.3

    Adjustment

-

-

0.0

-

-

Total Assets

1,152.5

1,431.1

1,255.8

1,269.4

1,220.7

 

 

 

 

 

 

    Note&Acct. Pybl.

309.3

326.5

263.2

293.9

340.9

    ST Borrowing

15.2

21.4

15.5

15.2

16.0

    Cur.Port-LT Debt

24.9

226.4

13.3

40.2

23.4

    Commercial Paper

-

-

0.0

40.5

0.0

    Accrued Expense

25.0

25.6

25.4

25.0

26.0

    Lease

1.0

0.8

0.5

0.3

0.0

    Income Tax Pybl.

3.6

3.1

3.2

3.1

3.3

    Advance Received

23.1

27.0

20.8

17.2

14.2

    Customer Deposit

2.5

2.4

2.2

1.8

1.8

    Provision for loss on disaster

0.0

1.2

0.0

-

-

    Res-Prod.Wrrty.

10.2

1.5

5.8

1.6

4.0

    Other Curr.Liab.

50.3

44.6

45.2

40.0

43.2

Total Current Liabilities

464.9

680.5

395.1

478.7

472.7

 

 

 

 

 

 

    LT Borrowing

13.4

35.5

232.3

232.3

170.0

    Lease

1.7

2.0

1.6

1.1

0.0

Total Long Term Debt

15.2

37.5

233.9

233.4

170.0

 

 

 

 

 

 

    Dfrd. Tax Liab.

1.2

8.7

15.5

10.6

24.3

    Res-Accr.Retire

151.7

146.8

124.7

113.0

110.0

    Res-Direc.Retire

2.0

2.1

2.8

2.2

1.9

    Other Liability

7.9

7.7

6.5

8.2

8.5

    Minor. Interest

4.6

4.3

3.6

3.3

3.6

    Adjustment

-

-

-

0.1

0.1

    Asset retirement obligations

4.2

4.2

0.0

-

-

    Reserve for environmental measures

2.8

2.8

2.5

0.0

-

Total Liabilities

654.4

894.6

784.7

849.4

791.1

 

 

 

 

 

 

    Common Stock

178.5

177.4

157.4

148.9

147.7

    Paid In Capital

200.3

199.1

176.6

167.1

165.8

    Retained Earning

117.9

147.8

114.9

89.4

80.7

    Treasury Stock

-0.8

-0.8

-0.7

-0.6

-0.6

    Unreal.Gain-Sec

2.4

13.1

22.9

15.3

35.7

    Foreign currency translation adjustment

-0.3

-0.1

0.0

-0.1

0.2

Total Equity

498.0

536.4

471.1

420.0

429.6

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

1,152.4

1,431.0

1,255.8

1,269.4

1,220.7

 

 

 

 

 

 

    S/O-Common Stock

137.8

137.8

137.8

137.8

137.8

Total Common Shares Outstanding

137.8

137.8

137.8

137.8

137.8

T/S-Common Stock

0.2

0.2

0.2

0.2

0.2

Deferred Revenue - Current

23.1

27.0

20.8

17.2

14.2

Full-Time Employees

-

3,766

3,760

3,770

3,751

Number of Common Shareholders

-

8,419

11,443

12,044

10,915

LT Debt, mat. within 1 yr.

-

226.4

13.3

40.2

23.4

LT Debt, mat. by 2 yr.

-

23.7

200.8

12.6

155.0

LT Debt, mat. by 3 yr.

-

11.8

21.0

190.0

12.1

LT Debt, mat. by 4 yr.

-

0.0

10.5

19.9

1.2

LT Debt, mat. by 5 yr.

-

0.0

0.0

9.9

1.7

LT Debt, mat. over 5 yr.

-

0.0

-

-

-

Total Long Term Debt, Supplemental

-

261.9

245.6

272.6

193.4

Capital lease payment due in 1 year

-

0.8

0.5

40.8

-

Capital lease payment due in 2 years

-

0.8

0.5

0.3

-

Capital lease payment due in 3 years

-

0.7

0.5

0.3

-

Capital lease payment due in 4 years

-

0.3

0.4

0.3

-

Capital lease payment due in 5 years

-

0.2

0.1

0.2

-

Capital lease Remaining

-

0.0

0.1

4.8

5.0

Total Capital Leases

-

2.7

2.2

46.5

5.0

Pension Obligation

-

525.1

472.2

446.7

439.1

Fair Value of Plan Assets

-

293.0

264.8

218.8

257.9

Funded Status

-

-232.1

-207.3

-228.0

-181.2

Total Funded Status

-

-232.1

-207.3

-228.0

-181.2

Discount Rate

-

2.00%

2.00%

2.00%

2.00%

Expected Return on Plan Assets

-

0.00%

0.00%

0.00%

2.00%

Difference due to Acct. Changes

-

15.9

17.6

20.0

23.1

Unrecognized Actuarial Gains & Loss

-

125.7

120.2

145.9

97.8

Unrecognized Prior Service Cost

-

-26.9

-28.0

-30.3

-33.5

Prepaid Pension Benefits

-

29.3

27.2

20.6

16.2

Accrued Pension Benefits

-

-146.8

-124.7

-113.0

-110.0

Net Assets Recognized on Balance Sheet

-

-2.8

12.3

43.1

-6.4

 

 

 

 

Interim Balance Sheet

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate

82.385362

76.94

77.08

80.76

82.88

 

 

 

 

 

 

    Cash and Deposit

43.8

43.9

46.5

45.3

71.9

    Note&Acct.Receivable

547.9

310.5

309.1

310.7

554.8

    Marketable Security

2.0

2.1

2.1

2.0

213.1

    Merchandise and finished goods

73.1

89.1

80.8

82.1

75.0

    Inventories - work-in-process

184.8

319.4

282.6

220.4

182.1

    Raw materials and supplies

38.1

45.8

43.5

43.1

40.2

    Advances

8.8

8.7

7.7

7.9

12.3

    Deferred tax assets

3.8

3.6

4.2

3.2

3.8

    ST loans nonconsolidated affiliates

14.7

225.1

307.0

338.1

-

    Other

9.4

18.3

15.4

15.0

6.6

    Allowance for doubtful accounts

-2.7

-1.9

-2.0

-2.0

-2.5

Total Current Assets

923.6

1,064.6

1,096.8

1,065.6

1,157.3

 

 

 

 

 

 

    Building&Structure

66.4

68.1

68.7

66.6

65.8

    Mach. & Vehicles

6.3

7.0

9.7

9.6

9.9

    Tools, furniture, & fixtures, net

10.7

9.8

12.7

12.3

12.3

    Land

23.7

25.4

25.5

24.3

23.7

    Constr.-in-Progress

0.2

4.5

1.3

0.6

0.4

    Lease assets, net

1.7

1.6

1.7

1.6

1.6

    Software

-

5.7

6.5

6.1

-

    Other

-

2.0

2.0

2.0

-

    Intangible Asset

7.5

-

-

-

8.3

    Investment Security

65.1

63.5

63.6

67.4

101.5

    LT Loans

0.8

0.2

0.2

0.2

0.2

    Deferred tax assets

14.6

16.3

16.7

15.6

15.2

    Other

51.1

55.7

55.8

54.1

54.0

    Allowance for doubtful accounts

-19.2

-20.3

-20.0

-19.4

-19.0

    Adjustment

-

0.1

-

-

-

Total Assets

1,152.4

1,304.0

1,341.1

1,306.6

1,431.0

 

 

 

 

 

 

    Note&Acct. Payable

309.3

223.1

206.0

213.0

326.5

    ST Borrowing

15.2

27.3

31.8

25.6

21.4

    Cur.Port-LT Debt

24.9

208.4

244.1

232.8

226.4

    Accrued Expenses

25.0

31.7

22.7

26.3

25.6

    Lease obligations

1.0

1.0

0.9

0.8

0.8

    Corp.Tax Payables

3.6

2.7

3.1

1.2

3.1

    Advances

23.1

72.8

50.6

35.7

27.0

    Deposit

2.5

7.2

2.4

10.3

2.4

    Reserve for product warranties

10.2

4.0

0.5

1.2

1.5

    Provision for loss on disaster

0.0

0.0

0.2

0.7

-

    Other

50.3

28.8

44.4

23.6

45.8

Total Current Liabilities

464.9

607.0

606.7

571.0

680.5

 

 

 

 

 

 

    LT Borrowing

13.4

16.8

37.0

37.9

35.5

    Lease obligations

1.7

1.8

1.9

1.8

2.0

Total Long Term Debt

15.2

18.7

38.9

39.7

37.5

 

 

 

 

 

 

    Dfrd. Tax Liability

1.2

0.0

0.1

2.9

8.7

    Res-Accr.Retire Bft.

151.7

162.0

160.0

151.0

146.8

    Res-Direc.Retire Bft

2.0

2.0

1.8

2.1

2.1

    Provision for environmental measures

2.8

3.0

3.0

2.8

2.8

    Asset retirement obligations

4.2

4.5

4.6

4.4

4.2

    Other

7.9

8.4

8.3

7.8

7.7

    Minority Interest

4.6

4.7

4.7

4.6

4.3

Total Liabilities

654.4

810.2

828.1

786.4

894.6

 

 

 

 

 

 

    Common Stock

178.5

191.1

190.8

182.1

177.4

    Paid In Capital

200.3

214.5

214.1

204.4

199.1

    Retained earnings

117.9

89.4

108.7

130.1

147.8

    Treasury Stock

-0.8

-0.9

-0.9

-0.9

-0.8

    Unrealized Gain-Sec

2.4

0.0

0.4

4.6

13.1

    Translation Adjust

-0.3

-0.3

-0.1

-0.1

-0.1

Total Equity

498.0

493.9

512.9

520.2

536.4

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

1,152.4

1,304.0

1,341.1

1,306.6

1,431.0

 

 

 

 

 

 

    S/O-Common Stock

137.8

137.8

137.8

137.8

137.8

Total Common Shares Outstanding

137.8

137.8

137.8

137.8

137.8

T/S-Common Stock

0.2

0.2

0.2

0.2

0.2

Deferred Revenue - Current

23.1

72.8

50.6

35.7

27.0

Full-Time Employees

-

-

-

-

3,766

 

 

 

Annual Cash Flows

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Mar-2011

Updated Normal
31-Mar-2010

Updated Normal
31-Mar-2009

Updated Normal
31-Mar-2008

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

85.691434

92.941082

100.484331

114.302336

Auditor

 

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

 

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Income Before Tax

-18.4

26.0

29.1

19.0

32.4

    Depreciation

16.3

16.5

17.0

17.6

16.0

    Impairment

8.3

0.7

0.0

0.2

0.1

    Res-Doubt.Acct.Allow

0.5

-0.6

0.1

14.0

-2.1

    Res-Accr.Retire Bft.

8.4

6.1

0.0

-2.0

-9.9

    Int. and Div. Income

-3.1

-2.5

-2.2

-2.8

-2.9

    Interes Expense

4.7

5.0

4.8

4.0

3.2

    Equity in Affiliate

-4.0

-2.9

-2.2

-3.6

-2.5

    Sale Gain-Fixed Asst

-14.9

0.0

0.0

-15.2

0.0

    Sale Gain-Invest.Sec

-11.3

-20.2

0.0

-

0.0

    Val.Loss-Invest.Sec

0.3

1.2

0.0

0.1

0.2

    Account Receivable

10.5

30.3

18.8

11.9

-6.0

    Inventories

3.1

-16.9

99.9

-4.9

22.5

    Account Payable

-20.0

28.9

-47.7

-48.6

-24.4

    Other Opera.Activity

9.2

-4.6

0.0

-2.3

-6.4

    Int. and Div. Rcvd.

3.4

2.8

2.5

3.0

2.9

    Interest expenses paid

-5.1

-5.0

-4.9

-4.1

-3.5

    Income taxes paid, cash basis

-3.0

-4.1

-3.9

-4.0

-1.8

    Adjustment

-

-

-

0.0

0.0

Cash from Operating Activities

-15.1

60.6

111.1

-17.7

17.9

 

 

 

 

 

 

    Time Deposit Made

-4.7

-1.3

-2.2

-1.7

0.0

    Time Deposit Matured

5.1

0.9

0.0

0.0

0.9

    Purch-Marketable Sec

-

-

0.0

-1.6

0.0

    ST loans, net

-15.4

0.0

-

-

-

    Marketable securities, net

0.0

0.0

0.0

0.0

-

    Capial Expenditure

-13.6

-8.4

-10.0

-11.5

-8.8

    Sale-Fixed Asset

14.6

0.0

0.0

15.6

0.0

    Sale of Intangibles

-

-

-

-

0.0

    Purch-Investment Sec

-0.1

-0.2

-0.1

-0.4

-0.1

    Proceeds from sales of investment securi

32.9

28.7

1.9

0.0

1.2

    Other Inv. Activity

-3.3

-1.5

-0.8

0.9

-3.4

Cash from Investing Activities

15.5

18.2

-11.2

1.3

-10.2

 

 

 

 

 

 

    ST Debt, Net

-6.6

3.7

-0.5

-0.9

3.8

    Commercial Paper,Net

-

0.0

-43.0

39.8

0.0

    Issued-LT Debt

2.5

0.0

0.0

99.7

0.0

    Repaid-LT Debt

-237.5

-14.5

-42.7

-23.3

-1.4

    Redemp-Corp.Bond

-

-

-

-

0.0

    Dividend Paid

-8.7

-4.8

-4.4

-6.8

-6.0

    Div.Paid to Minority

0.0

0.0

0.0

0.0

0.0

    Other financing activities

-0.8

-0.6

-0.3

0.0

-0.1

Cash from Financing Activities

-251.0

-16.2

-91.1

108.3

-3.6

 

 

 

 

 

 

Foreign Exchange Effects

-0.4

-1.9

-0.4

-1.3

-1.0

Net Change in Cash

-251.0

60.7

8.5

90.5

3.1

 

 

 

 

 

 

Net Cash - Beginning Balance

292.0

208.4

183.7

79.4

66.7

Net Cash - Ending Balance

41.0

269.1

192.2

169.9

69.8

    Cash Interest Paid

5.1

5.0

4.9

4.1

3.5

    Cash Taxes Paid

3.0

4.1

3.9

4.0

1.8

 

 

 

 

Interim Cash Flows

As Reported

Financials in: USD (mil)

 

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

 

 

 

 

 

 

31-Mar-2012

30-Sep-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

12 Months

6 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
30-Sep-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Filed Currency

JPY

JPY

JPY

JPY

JPY

Exchange Rate (Period Average)

78.961215

79.672811

85.691434

86.812446

88.962162

 

 

 

 

 

 

Income Before Tax

-18.4

-38.4

26.0

-24.2

-30.5

    Depreciation

16.3

8.1

16.5

10.9

6.8

    Impairment Loss

8.3

0.0

0.7

0.0

0.0

    Res-Doubt.Acct.Allow

0.5

-1.0

-0.6

-0.8

-0.8

    Res-Accr.Retire Bft.

8.4

4.0

6.1

5.3

2.7

    Int. and Div. Income

-3.1

-2.1

-2.5

-2.4

-1.5

    Interes Expense

4.7

2.5

5.0

3.7

2.4

    Equity in Affiliate

-4.0

-1.1

-2.9

-0.5

-0.6

    Sale Gain-Fixed Asst

-14.9

-

0.0

-

-

    Sale Gain-Invest.Sec

-11.3

-11.2

-20.2

-22.6

0.0

    Val.Loss-Invest.Sec

0.3

-

1.2

0.7

-

    Account Receivable

10.5

278.1

30.3

275.1

280.6

    Inventories

3.1

-84.9

-16.9

-121.8

-58.9

    Account Payable

-20.0

-140.3

28.9

-60.9

-91.9

    Other Opera.Activity

9.2

12.4

-4.6

33.6

15.2

    Int. and Div. Rcvd.

3.4

1.8

2.8

2.7

1.8

    Interest Paid

-5.1

-2.5

-5.0

-3.3

-2.4

    Income taxes paid, cash basis

-3.0

-1.8

-4.1

-3.4

-2.3

    Adjustment

-

-0.1

-

-0.1

-0.1

Cash from Operating Activities

-15.1

23.5

60.6

92.1

120.6

 

 

 

 

 

 

    Time Deposit Made

-4.7

-4.0

-1.3

-1.3

-1.2

    Time Deposit Matured

5.1

3.0

0.9

0.3

0.3

    ST loans, net

-15.4

-297.0

-

-

0.0

    Marketable securities, net

0.0

0.0

0.0

0.0

0.0

    Capial Expenditure

-13.6

-6.1

-8.4

-5.3

-4.9

    Sale-Fixed Asset

14.6

-

0.0

-

-

    Purch-Investment Sec

-0.1

0.0

-0.2

-0.2

-0.1

    Proceeds from sales of investment securi

32.9

32.6

28.7

-

0.0

    Other Inv. Activity

-3.3

-1.1

-1.5

-3.4

-0.8

Cash from Investing Activities

15.5

-272.6

18.2

-9.8

-6.7

 

 

 

 

 

 

    ST Debt, Net

-6.6

8.5

3.7

5.8

4.5

    Increase (decrease) in commercial papers

-

-

0.0

0.0

0.0

    Issued-LT Debt

2.5

2.5

-

-

0.0

    Repaid-LT Debt

-237.5

-2.9

-14.5

-13.8

-13.1

    Dividend Paid

-8.7

-8.6

-4.8

-4.7

-4.6

    Div.Paid to Minority

0.0

0.0

0.0

0.0

0.0

    Other financing activities

-0.8

-0.4

-0.6

-0.4

-0.3

Cash from Financing Activities

-251.0

-0.8

-16.2

-13.3

-13.5

 

 

 

 

 

 

Foreign Exchange Effects

-0.4

-0.5

-1.9

-2.0

-1.6

Net Change in Cash

-251.0

-250.5

60.7

67.0

98.8

 

 

 

 

 

 

Net Cash - Beginning Balance

292.0

289.4

208.4

205.7

200.8

Net Cash - Ending Balance

41.0

38.9

269.1

272.7

299.5

    Cash Interest Paid

5.1

2.5

5.0

3.3

2.4

    Cash Taxes Paid

3.0

1.8

4.1

3.4

2.3

 

 

Business Segments

 

Financials in: As Reported (mil)

Annual

 

 

 

External Revenue   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-06

31-Mar-05

31-Mar-04

Equipment at sea

345.3

27.5 %

315.0

26.3 %

-

-

-

-

-

-

Communication Equipment

202.3

16.1 %

207.7

17.4 %

-

-

-

-

-

-

Solution equipment

612.5

48.7 %

586.8

49 %

-

-

-

-

-

-

Others

96.8

7.7 %

87.0

7.3 %

-

-

-

-

-

-

Telecommunicaitons Equipment

-

-

-

-

1,128.4

71.4 %

1,109.1

52 %

1,480.6

60.1 %

Electron Tubes and Semiconductor Devices

-

-

-

-

259.1

16.4 %

594.1

27.9 %

584.1

23.7 %

Medical Electronics Equipment

-

-

-

-

192.9

12.2 %

429.9

20.2 %

399.9

16.2 %

Segment Total

1,256.9

100 %

1,196.5

100 %

1,580.4

100 %

2,133.1

100 %

2,464.7

100 %

Elimination/Corporate

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

1,256.9

100 %

1,196.5

100 %

1,580.4

100 %

2,133.1

100 %

2,464.7

100 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

113.166257

 

107.445519

 

113.024169

 

Intersegment Revenue   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-06

31-Mar-05

31-Mar-04

Equipment at sea

0.0

0 %

0.1

0.1 %

-

-

-

-

-

-

Communication Equipment

0.1

0.1 %

0.1

0.2 %

-

-

-

-

-

-

Solution equipment

0.5

0.7 %

0.8

1.2 %

-

-

-

-

-

-

Others

69.4

99.2 %

64.5

98.4 %

-

-

-

-

-

-

Telecommunicaitons Equipment

-

-

-

-

6.9

68.2 %

13.8

55 %

15.0

61.9 %

Electron Tubes and Semiconductor Devices

-

-

-

-

3.2

31.8 %

11.3

45 %

9.2

38.1 %

Medical Electronics Equipment

-

-

-

-

0.0

0 %

0.0

0 %

0.0

0 %

Segment Total

70.0

100 %

65.5

100 %

10.1

100 %

25.2

100 %

24.2

100 %

Elimination/Corporate

-70.0

-100 %

-65.5

-100 %

-10.1

-100 %

-25.2

-100 %

-24.2

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

113.166257

 

107.445519

 

113.024169

 

 

Total Revenue   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-06

31-Mar-05

31-Mar-04

Equipment at sea

345.4

26 %

315.1

25 %

-

-

-

-

-

-

Communication Equipment

202.3

15.2 %

207.8

16.5 %

-

-

-

-

-

-

Solution equipment

612.9

46.2 %

587.6

46.6 %

-

-

-

-

-

-

Others

166.3

12.5 %

151.5

12 %

-

-

-

-

-

-

Telecommunicaitons Equipment

-

-

-

-

1,135.3

71.4 %

1,122.9

52 %

1,495.6

60.1 %

Electron Tubes and Semiconductor Devices

-

-

-

-

262.3

16.5 %

605.4

28.1 %

593.3

23.8 %

Medical Electronics Equipment

-

-

-

-

192.9

12.1 %

429.9

19.9 %

399.9

16.1 %

Segment Total

1,326.9

100 %

1,262.0

100 %

1,590.5

100 %

2,158.3

100 %

2,488.9

100 %

Elimination/Corporate

-70.0

-5.3 %

-65.5

-5.2 %

-10.1

-0.6 %

-25.2

-1.2 %

-24.2

-1 %

Consolidated Total

1,256.9

94.7 %

1,196.5

94.8 %

1,580.4

99.4 %

2,133.1

98.8 %

2,464.7

99 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

113.166257

 

107.445519

 

113.024169

 

Depreciation   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-06

31-Mar-05

31-Mar-04

Equipment at sea

1.4

16 %

2.5

26.4 %

-

-

-

-

-

-

Communication Equipment

2.1

23.7 %

3.9

40.4 %

-

-

-

-

-

-

Solution equipment

2.7

30.7 %

0.6

6.2 %

-

-

-

-

-

-

Others

2.6

29.6 %

2.6

27 %

-

-

-

-

-

-

Telecommunicaitons Equipment

-

-

-

-

15.4

42 %

21.6

29.5 %

19.6

28.3 %

Electron Tubes and Semiconductor Devices

-

-

-

-

17.6

47.8 %

41.6

56.9 %

42.4

61.2 %

Medical Electronics Equipment

-

-

-

-

3.8

10.3 %

9.9

13.6 %

7.2

10.5 %

Segment Total

8.8

100 %

9.6

100 %

36.8

100 %

73.1

100 %

69.2

100 %

Elimination/Corporate

7.7

88 %

7.3

76.5 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

16.5

188 %

17.0

176.5 %

36.8

100 %

73.1

100 %

69.2

100 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

113.166257

 

107.445519

 

113.024169

 

 

Operating Income/Loss   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-06

31-Mar-05

31-Mar-04

Equipment at sea

12.1

67.4 %

15.3

48 %

-

-

-

-

-

-

Communication Equipment

-17.7

-98.6 %

-19.4

-60.7 %

-

-

-

-

-

-

Solution equipment

24.5

136.8 %

36.0

113 %

-

-

-

-

-

-

Others

-1.0

-5.6 %

-0.1

-0.3 %

-

-

-

-

-

-

Telecommunicaitons Equipment

-

-

-

-

14.2

77.4 %

5.7

10.4 %

16.3

21.3 %

Electron Tubes and Semiconductor Devices

-

-

-

-

7.4

40.4 %

33.5

61.2 %

40.8

53.5 %

Medical Electronics Equipment

-

-

-

-

-3.3

-17.8 %

15.5

28.4 %

19.3

25.2 %

Segment Total

17.9

100 %

31.9

100 %

18.3

100 %

54.8

100 %

76.3

100 %

Elimination/Corporate

0.2

1 %

0.4

1.2 %

0.7

4.1 %

0.7

1.3 %

0.3

0.5 %

Consolidated Total

18.1

101 %

32.3

101.2 %

19.1

104.1 %

55.5

101.3 %

76.7

100.5 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

113.166257

 

107.445519

 

113.024169

 

Operating Margin (%)  

 

31-Mar-11

31-Mar-10

31-Mar-06

31-Mar-05

31-Mar-04

Equipment at sea

3.5

-

4.9

-

-

-

-

-

-

-

Communication Equipment

-8.7

-

-9.3

-

-

-

-

-

-

-

Solution equipment

4.0

-

6.1

-

-

-

-

-

-

-

Others

-0.6

-

-0.1

-

-

-

-

-

-

-

Telecommunicaitons Equipment

-

-

-

-

1.2

-

0.5

-

1.1

-

Electron Tubes and Semiconductor Devices

-

-

-

-

2.8

-

5.5

-

6.9

-

Medical Electronics Equipment

-

-

-

-

-1.7

-

3.6

-

4.8

-

Segment Total

1.4

-

2.5

-

1.2

-

2.5

-

3.1

-

Elimination/Corporate

-0.3

-

-0.6

-

-7.4

-

-2.8

-

-1.4

-

Consolidated Total

1.4

-

2.7

-

1.2

-

2.6

-

3.1

-

 

Total Assets   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-06

31-Mar-05

31-Mar-04

Equipment at sea

213.9

23.9 %

175.7

22.1 %

-

-

-

-

-

-

Communication Equipment

136.8

15.3 %

115.1

14.5 %

-

-

-

-

-

-

Solution equipment

430.6

48.1 %

403.4

50.8 %

-

-

-

-

-

-

Others

114.1

12.7 %

100.4

12.6 %

-

-

-

-

-

-

Telecommunicaitons Equipment

-

-

-

-

1,052.0

100 %

1,154.2

52.6 %

1,183.2

52.7 %

Electron Tubes and Semiconductor Devices

-

-

-

-

0.0

0 %

533.1

24.3 %

556.8

24.8 %

Medical Electronics Equipment

-

-

-

-

0.0

0 %

508.2

23.1 %

504.9

22.5 %

Segment Total

895.4

100 %

794.6

100 %

1,052.0

100 %

2,195.6

100 %

2,244.9

100 %

Elimination/Corporate

535.7

59.8 %

461.3

58.1 %

0.0

0 %

-9.0

-0.4 %

-12.6

-0.6 %

Consolidated Total

1,431.1

159.8 %

1,255.9

158.1 %

1,052.0

100 %

2,186.6

99.6 %

2,232.3

99.4 %

Exchange Rate: JPY to USD

82.880000

 

93.440000

 

117.990000

 

106.960000

 

104.035000

 

Operating Return on Assets (%)  

 

31-Mar-11

31-Mar-10

31-Mar-06

31-Mar-05

31-Mar-04

Equipment at sea

5.8

-

8.7

-

-

-

-

-

-

-

Communication Equipment

-13.4

-

-16.7

-

-

-

-

-

-

-

Solution equipment

5.9

-

8.9

-

-

-

-

-

-

-

Others

-0.9

-

-0.1

-

-

-

-

-

-

-

Telecommunicaitons Equipment

-

-

-

-

1.3

-

0.5

-

1.5

-

Electron Tubes and Semiconductor Devices

-

-

-

-

-

-

6.3

-

8.0

-

Medical Electronics Equipment

-

-

-

-

-

-

3.1

-

4.1

-

Segment Total

2.1

-

4.0

-

1.7

-

2.5

-

3.7

-

Elimination/Corporate

0.0

-

0.1

-

-

-

-7.9

-

-3.0

-

Consolidated Total

1.3

-

2.6

-

1.7

-

2.5

-

3.7

-

 

Purchase of Fixed Assets   USD (mil)

 

31-Mar-11

31-Mar-10

31-Mar-06

31-Mar-05

31-Mar-04

Equipment at sea

2.3

26.3 %

1.0

19.2 %

-

-

-

-

-

-

Communication Equipment

1.8

20.8 %

1.4

26.8 %

-

-

-

-

-

-

Solution equipment

2.4

28 %

0.9

17.2 %

-

-

-

-

-

-

Others

2.1

24.9 %

1.9

36.8 %

-

-

-

-

-

-

Telecommunicaitons Equipment

-

-

-

-

12.1

42.3 %

14.9

25.9 %

10.8

17 %

Electron Tubes and Semiconductor Devices

-

-

-

-

14.0

49.2 %

37.9

65.6 %

36.9

58.2 %

Medical Electronics Equipment

-

-

-

-

2.4

8.5 %

4.9

8.5 %

15.7

24.7 %

Segment Total

8.6

100 %

5.1

100 %

28.5

100 %

57.7

100 %

63.4

100 %

Elimination/Corporate

6.7

77.8 %

3.2

61.5 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

15.3

177.8 %

8.3

161.5 %

28.5

100 %

57.7

100 %

63.4

100 %

Exchange Rate: JPY to USD

85.691434

 

92.941082

 

113.166257

 

107.445519

 

113.024169

 

 

 

 

Business Segments

Financials in: As Reported (mil)

 

Interim

 

 

External Revenue   USD (mil)

 

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

31-Dec-10

Equipment at sea

93.5

37.9 %

99.2

41.8 %

84.8

44 %

95.9

15.9 %

90.8

36.1 %

Communication Equipment

42.0

17 %

49.0

20.7 %

26.9

14 %

79.9

13.3 %

39.1

15.5 %

Solution equipment

82.3

33.4 %

59.5

25.1 %

54.5

28.3 %

403.0

66.9 %

96.6

38.4 %

Others

28.9

11.7 %

29.5

12.4 %

26.4

13.7 %

23.6

3.9 %

25.2

10 %

Segment Total

246.7

100 %

237.2

100 %

192.5

100 %

602.4

100 %

251.8

100 %

Elimination/Corporate

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Consolidated Total

246.7

100 %

237.2

100 %

192.5

100 %

602.4

100 %

251.8

100 %

Exchange Rate: JPY to USD

77.302742

 

77.752043

 

81.605269

 

82.241044

 

82.567473

 

Intersegment Revenue   USD (mil)

 

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

31-Dec-10

Equipment at sea

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0.1 %

0.0

0 %

Communication Equipment

0.0

0 %

0.0

0.1 %

0.0

0 %

0.0

0.2 %

0.0

0.1 %

Solution equipment

0.1

0.7 %

0.2

0.8 %

0.2

1.1 %

0.1

0.6 %

0.1

0.6 %

Others

18.8

99.3 %

18.2

99.1 %

14.8

98.9 %

22.2

99.2 %

16.9

99.4 %

Segment Total

18.9

100 %

18.4

100 %

14.9

100 %

22.4

100 %

17.1

100 %

Elimination/Corporate

-18.9

-100 %

-18.4

-100 %

-14.9

-100 %

-22.4

-100 %

-17.1

-100 %

Consolidated Total

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

0.0

0 %

Exchange Rate: JPY to USD

77.302742

 

77.752043

 

81.605269

 

82.241044

 

82.567473

 

 

Total Revenue   USD (mil)

 

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

31-Dec-10

Equipment at sea

93.5

35.2 %

99.2

38.8 %

84.8

40.9 %

95.9

15.4 %

90.8

33.8 %

Communication Equipment

42.0

15.8 %

49.0

19.2 %

26.9

13 %

79.9

12.8 %

39.1

14.6 %

Solution equipment

82.4

31 %

59.6

23.3 %

54.6

26.3 %

403.2

64.5 %

96.7

36 %

Others

47.6

17.9 %

47.7

18.7 %

41.1

19.8 %

45.8

7.3 %

42.1

15.7 %

Segment Total

265.6

100 %

255.6

100 %

207.5

100 %

624.8

100 %

268.8

100 %

Elimination/Corporate

-18.9

-7.1 %

-18.4

-7.2 %

-14.9

-7.2 %

-22.4

-3.6 %

-17.1

-6.3 %

Consolidated Total

246.7

92.9 %

237.2

92.8 %

192.5

92.8 %

602.4

96.4 %

251.8

93.7 %

Exchange Rate: JPY to USD

77.302742

 

77.752043

 

81.605269

 

82.241044

 

82.567473

 

Operating Income/Loss   USD (mil)

 

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

31-Dec-10

Equipment at sea

1.8

-7 %

2.8

-13 %

-0.6

2.5 %

2.7

5.1 %

3.0

-22.1 %

Communication Equipment

-13.0

50.2 %

-6.1

28.2 %

-10.3

46.5 %

-1.3

-2.4 %

-9.9

73.6 %

Solution equipment

-19.7

76 %

-19.9

92.6 %

-14.3

64.3 %

54.9

101.7 %

-7.1

53 %

Others

5.0

-19.2 %

1.7

-7.8 %

3.0

-13.4 %

-2.4

-4.4 %

0.6

-4.6 %

Segment Total

-25.9

100 %

-21.5

100 %

-22.2

100 %

54.0

100 %

-13.5

100 %

Elimination/Corporate

-0.6

2.3 %

-0.6

2.7 %

0.8

-3.6 %

0.9

1.6 %

-0.5

3.4 %

Consolidated Total

-26.5

102.3 %

-22.1

102.7 %

-21.4

96.4 %

54.9

101.6 %

-13.9

103.4 %

Exchange Rate: JPY to USD

77.302742

 

77.752043

 

81.605269

 

82.241044

 

82.567473

 

 

Operating Margin (%)  

 

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

31-Dec-10

Equipment at sea

1.9

-

2.8

-

-0.7

-

2.9

-

3.3

-

Communication Equipment

-30.9

-

-12.4

-

-38.3

-

-1.6

-

-25.3

-

Solution equipment

-23.8

-

-33.4

-

-26.1

-

13.6

-

-7.4

-

Others

10.4

-

3.5

-

7.2

-

-5.2

-

1.5

-

Segment Total

-9.7

-

-8.4

-

-10.7

-

8.6

-

-5.0

-

Elimination/Corporate

3.2

-

3.1

-

-5.3

-

-3.9

-

2.7

-

Consolidated Total

-10.7

-

-9.3

-

-11.1

-

9.1

-

-5.5

-

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.01

UK Pound

1

Rs.87.85

Euro

1

Rs.70.54

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

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

 

Unlimited

71-85

Aa

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

 

Large

56-70

A

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

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

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

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

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

 

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

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

 

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.