MIRA
INFORM REPORT
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Report Date : |
29.11.2012 |
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Tel. No.: |
03 35181111 |
IDENTIFICATION DETAILS
|
Name : |
SANYO TRADING CO LTD |
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Registered Office : |
2-11, Kandanishiki-cho, Chiyoda-ku, Tokyo, 101-0054 |
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Country : |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
28.05.1947 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
trading of rubber, chemicals, machinery equipment,
scientific equipment and automobile parts |
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No. of Employees : |
242 employees |
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 |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a
strong work ethic, mastery of high technology, and a comparatively small
defense allocation (1% of GDP) helped Japan develop a technologically advanced
economy. Two notable characteristics of the post-war economy were the close
interlocking structures of manufacturers, suppliers, and distributors, known as
keiretsu, and the guarantee of lifetime employment for a substantial portion of
the urban labor force. Both features are now eroding under the dual pressures
of global competition and domestic demographic change. Japan's industrial
sector is heavily dependent on imported raw materials and fuels. A tiny
agricultural sector is highly subsidized and protected, with crop yields among
the highest in the world. Usually self-sufficient in rice, Japan imports about
60% of its food on a caloric basis. Japan maintains one of the world's largest
fishing fleets and accounts for nearly 15% of the global catch. For three
decades, overall real economic growth had been spectacular - a 10% average in
the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth
slowed markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001,
and third-place India, which edged out Japan in 2011. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan further into recession. Government stimulus spending helped the economy
recover in late 2009 and 2010, but the economy contracted again in 2011 as the
massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity
supplies remain tight because Japan has temporarily shut down almost all of its
nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled
by the earthquake and resulting tsunami. Estimates of the direct costs of the
damage - rebuilding homes, factories, and infrastructure - range from $235 billion
to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
Company name & address
Sanyo Trading Co Ltd
2-11, Kandanishiki-cho, Chiyoda-ku
Tokyo, 101-0054
Japan
Tel: 81-3-35181111
Fax: 81-3-35181230
Synthesis
Employees: 242
Company Type: Public Parent
Corporate Family: 3
Companies
Traded:
Tokyo Stock Exchange: 3176
Incorporation Date:
28-May-1947
Auditor: Ernst & Young ShinNihon LLC
Financials in: USD
(Millions)
Fiscal Year End:
30-Sep-2011
Reporting Currency: Japanese
Yen
Annual Sales: 602.2
1
Net Income: 12.6
Total Assets: 288.9 2
Market Value: 79.6 (09-Nov-2012)
Business Description
Sanyo Trading Co., Ltd. is a Japan-based company mainly engaged in the
trading of rubber, chemicals, machinery equipment, scientific equipment and
automobile parts. The Company has four business segments. The Rubber and
Chemical segment provides synthetic rubber, auxiliary materials for rubber,
natural rubber, medical-related materials, plasticizer, resin tube, reclaimed
rubber, adhesives, synthetic resins, ink, industrial gases, pesticides,
ceramics, various films, pigment, pharmaceutical intermediates, perfumes and
surfactants, among others. The Machinery and Equipment segment provides
environment-related equipment, test equipment, measuring equipment, industrial
instrumentation, thermal processing equipment and laboratory equipment, among
others. The Overseas Subsidiary segment provides synthetic rubber, natural
rubber, medical-related materials and various films, among others. The Domestic
Subsidiary segment provides industrial drugs, oil drilling devices and others.
For the nine months ended 30 June 2012, Sanyo Trading Co Ltd revenues totaled
Y36.2B. Net income totaled to Y995.9M. Revenues reflect market conditions.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 3323 - Industrial
and Agricultural Chemical Product Wholesaling
NACE 2002: 5155 - Wholesale
of chemical products
NAICS 2002: 42469 - Other
Chemical and Allied Products Merchant Wholesalers
UK SIC 2003: 5155 - Wholesale
of chemical products
UK SIC 2007: 4675 - Wholesale
of chemical products
US SIC 1987: 5169 - Chemicals
and Allied Products, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Yoshimasa Matsumoto |
President, Chief Operating Officer, Representative Director |
|
Masaaki Masumoto |
Executive Officer, Director of Industrial Material Business |
|
Yoshimitsu Machida |
Chairman & Chief Executive Officer |
|
Katsuaki Takeuchi |
President & Chief Operating Officer |
|
Takahiko Ito |
Co-Auditor |
Significant Developments
|
* number of
significant developments within the last 12 months,
Financial Summary
|
As of 30-Jun-2012 |
||||||||||||
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Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 81.02499
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 77.08
Corporate Overview
Location
2-11, Kandanishiki-cho, Chiyoda-ku
Tokyo, 101-0054
Japan
Tel: 81-3-35181111
Fax: 81-3-35181230
Quote Symbol - Exchange
3176 - Tokyo Stock
Exchange
Sales JPY(mil): 48,790.9
Assets JPY(mil): 22,270.9
Employees: 242
Fiscal Year End: 30-Sep-2011
Industry: Chemical Manufacturing
Incorporation Date: 28-May-1947
Company Type: Public Parent
Quoted Status: Quoted
Chairman &
Chief Executive Officer:
Yoshimitsu Machida
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3323 - Industrial and Agricultural Chemical Product Wholesaling
3739 - Other Goods Wholesaling Not Elsewhere Classified
3419 - Other Specialised Industrial Machinery and Equipment
Wholesaling
3494 - Other Electrical and Electronic Goods Wholesaling
3319 - Other Agricultural Product Wholesaling
3720 - Pharmaceutical and Toiletry Goods Wholesaling
3339 - Other Hardware Goods Wholesaling
3504 - Motor Vehicle New Parts Wholesaling
3491 - Professional and Scientific Goods Wholesaling
NACE 2002 Codes:
5155 - Wholesale of chemical products
5146 - Wholesale of pharmaceutical goods
5187 - Wholesale of other machinery for use in industry, trade and
navigation
5030 - Sale of motor vehicle parts and accessories
5121 - Wholesale of grain, seeds and animal feeds
5190 - Other wholesale
5186 - Wholesale of other electronic parts and equipment
5153 - Wholesale of wood, construction materials and sanitary
equipment
NAICS 2002 Codes:
42469 - Other Chemical and Allied Products Merchant Wholesalers
423830 - Industrial Machinery and Equipment Merchant Wholesalers
424210 - Drugs and Druggists' Sundries Merchant Wholesalers
424910 - Farm Supplies Merchant Wholesalers
424610 - Plastics Materials and Basic Forms and Shapes Merchant
Wholesalers
423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers
424950 - Paint, Varnish, and Supplies Merchant Wholesalers
423690 - Other Electronic Parts and Equipment Merchant Wholesalers
423490 - Other Professional Equipment and Supplies Merchant
Wholesalers
424990 - Other Miscellaneous Nondurable Goods Merchant Wholesalers
US SIC 1987:
5169 - Chemicals and Allied Products, Not Elsewhere Classified
5049 - Professional Equipment and Supplies, Not Elsewhere
Classified
5199 - Nondurable Goods, Not Elsewhere Classified
5013 - Motor Vehicle Supplies and New Parts
5198 - Paints, Varnishes, and Supplies
5162 - Plastics Materials and Basic Forms and Shapes
5122 - Drugs, Drug Proprietaries, and Druggists' Sundries
5191 - Farm Supplies
5065 - Electronic Parts and Equipment, Not Elsewhere Classified
5084 - Industrial Machinery and Equipment
UK SIC 2003:
5155 - Wholesale of chemical products
5121 - Wholesale of grain, seeds and animal feeds
5190 - Other wholesale
5146 - Wholesale of pharmaceutical goods
5030 - Sale of motor vehicle parts and accessories
5153 - Wholesale of wood, construction materials and sanitary
equipment
5187 - Wholesale of other machinery for use in industry, trade and
navigation
5186 - Wholesale of other electronic parts and equipment
UK SIC 2007:
4675 - Wholesale of chemical products
4646 - Wholesale of pharmaceutical goods
4532 - Retail trade of motor vehicle parts and accessories
4652 - Wholesale of electronic and telecommunications equipment
and parts
4621 - Wholesale of grain, unmanufactured tobacco, seeds and
animal feeds
4690 - Non-specialised wholesale trade
4673 - Wholesale of wood, construction materials and sanitary
equipment
4669 - Wholesale of other machinery and equipment
Business
Description
Sanyo Trading Co.,
Ltd. is a Japan-based company mainly engaged in the trading of rubber,
chemicals, machinery equipment, scientific equipment and automobile parts. The
Company has four business segments. The Rubber and Chemical segment provides
synthetic rubber, auxiliary materials for rubber, natural rubber,
medical-related materials, plasticizer, resin tube, reclaimed rubber,
adhesives, synthetic resins, ink, industrial gases, pesticides, ceramics,
various films, pigment, pharmaceutical intermediates, perfumes and surfactants,
among others. The Machinery and Equipment segment provides environment-related
equipment, test equipment, measuring equipment, industrial instrumentation,
thermal processing equipment and laboratory equipment, among others. The
Overseas Subsidiary segment provides synthetic rubber, natural rubber,
medical-related materials and various films, among others. The Domestic
Subsidiary segment provides industrial drugs, oil drilling devices and others.
For the nine months ended 30 June 2012, Sanyo Trading Co Ltd revenues totaled
Y36.2B. Net income totaled to Y995.9M. Revenues reflect market conditions.
More Business
Descriptions
Nondurable goods
Other Rubber Product Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Sanyo
Trading Co Ltd |
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Sanyo Trading Co Ltd |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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|
Sanyo Trading Co Ltd |
Parent |
Tokyo |
Japan |
Chemical Manufacturing |
602.2 |
242 |
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Chem-Inter Corporation |
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Electronic Instruments and Controls |
52.8 |
9 |
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|
Cosmos Shoji Co.,Ltd. |
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Construction and Agriculture Machinery |
17.0 |
9 |
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Executive report
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Board of
Directors |
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Executive Officer, Chief Director of Administration, Director |
Director/Board Member |
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Director |
Director/Board Member |
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President, Chief Operating Officer, Representative Director |
Director/Board Member |
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Executive Officer, Director |
Director/Board Member |
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Executive Officer, Chief Director of Business, Director |
Director/Board Member |
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Executives |
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Chairman & Chief Executive Officer |
Chief Executive Officer |
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President, Chief Operating Officer, Representative Director |
President |
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President & Chief Operating Officer |
President |
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Co-Auditor |
Finance Executive |
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Co-Auditor |
Finance Executive |
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Co-Auditor |
Finance Executive |
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Co-Auditor |
Finance Executive |
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Executive Officer, Director of Industrial Material Business |
Other |
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Director of Accounting |
Other |
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Executive Officer, Chairman of Subsidiary |
Other |
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Executive Officer, Director of General Affairs |
Other |
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Executive Officer, Deputy Director of Industrial Material Business |
Other |
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Executive Officer, Manager of Internal Audit Office |
Other |
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Significant Developments
Sanyo Trading Co Ltd Confirms New Share Issue through Private Placement Nov 16, 2012
Sanyo Trading Co Ltd announced that it has received the confirmation from Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., regarding the new share issuance disclosed on September 14, 2012, of 429,000 shares of its common stock, to Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. The issuing price is JPY 357 per share, the subscription date is November 19, 2012 and the payment date is November 20, 2012.
Sanyo Trading Co Ltd Amends Midterm Dividend Outlook and Lowers Year-end Dividend Outlook for FY Ending September 2013 Nov 14, 2012
Sanyo Trading Co Ltd announced that it has amended its midterm dividend outlook from an undetermined value, which was announced on October 23, 2012, to JPY 15.00 per share, and lowered its year-end dividend outlook from JPY 30.00 per share, which was announced on October 23, 2012, to JPY 15.00 per share, for the fiscal year ending September 2013. The Company reaffirmed its annual dividend outlook of JPY 30.00 per share, for the same fiscal year.
Sanyo Trading Co Ltd Announces Consolidated Full-year Outlook and Dividend Forecast for FY 2013 Oct 22, 2012
Sanyo Trading Co Ltd announced its consolidated full-year outlook for revenue of JPY 53,562 million, operating profit of JPY 2,293 million, ordinary profit of JPY 2,399 million, net profit of JPY 1,299 million and earning per share of JPY 93.39, for the fiscal year ending March 2013. The Company has also announced its dividend forecast of JPY 12.00 per share, for the fiscal year ending March 2013.
Sanyo Trading Co Ltd Announces Initial Public Offering Sep 14, 2012
Sanyo Trading Co Ltd announced that its stock will begin trading on the
Tokyo Stock Exchange on October 23, 2012 under the symbol "3176". In
its public offering, the Company will offer a total of 2,600,000 common shares.
The nominal offering price as of filing date of Registration Statement is JPY
460 per share and the fixed offering price will be announced at later date.
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Daiwa Securities Co. Ltd.
and five other securities companies will be the underwriters for this offer.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.024986 |
89.620246 |
95.204123 |
107.716107 |
118.930779 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
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|
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Net Sales |
602.2 |
529.6 |
423.7 |
496.2 |
439.6 |
|
Revenue |
602.2 |
529.6 |
423.7 |
496.2 |
439.6 |
|
Total Revenue |
602.2 |
529.6 |
423.7 |
496.2 |
439.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
511.8 |
453.4 |
367.1 |
433.6 |
384.5 |
|
Cost of Revenue, Total |
511.8 |
453.4 |
367.1 |
433.6 |
384.5 |
|
Gross Profit |
90.3 |
76.2 |
56.6 |
62.6 |
55.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
28.7 |
24.7 |
21.7 |
23.6 |
20.2 |
|
Labor & Related Expense |
30.8 |
26.1 |
22.1 |
20.5 |
19.4 |
|
Total Selling/General/Administrative Expenses |
59.6 |
50.9 |
43.9 |
44.1 |
39.6 |
|
Depreciation |
2.1 |
1.9 |
2.0 |
1.1 |
0.3 |
|
Amortization of Acquisition Costs |
1.8 |
1.6 |
1.2 |
0.9 |
0.8 |
|
Depreciation/Amortization |
3.8 |
3.5 |
3.2 |
2.0 |
1.1 |
|
Impairment-Assets Held for Use |
2.2 |
0.0 |
- |
- |
- |
|
Impairment-Assets Held for Sale |
0.4 |
6.4 |
1.8 |
0.0 |
0.1 |
|
Other Unusual Expense (Income) |
0.1 |
-1.4 |
0.0 |
-0.6 |
-0.3 |
|
Unusual Expense (Income) |
2.7 |
5.0 |
1.8 |
-0.6 |
-0.2 |
|
Other Operating Expense |
0.0 |
- |
- |
- |
- |
|
Other Operating Expenses, Total |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
577.9 |
512.8 |
415.9 |
479.2 |
425.1 |
|
|
|
|
|
|
|
|
Operating Income |
24.2 |
16.8 |
7.8 |
17.0 |
14.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.7 |
-0.8 |
-1.1 |
-1.1 |
-1.0 |
|
Interest Expense, Net Non-Operating |
-0.7 |
-0.8 |
-1.1 |
-1.1 |
-1.0 |
|
Interest Income -
Non-Operating |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Investment Income -
Non-Operating |
1.5 |
1.8 |
1.1 |
1.6 |
1.5 |
|
Interest/Investment Income - Non-Operating |
1.6 |
1.8 |
1.2 |
1.7 |
1.6 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.9 |
1.0 |
0.1 |
0.6 |
0.6 |
|
Other Non-Operating Income (Expense) |
0.5 |
0.4 |
0.6 |
0.0 |
0.2 |
|
Other, Net |
0.5 |
0.4 |
0.6 |
0.0 |
0.2 |
|
Income Before Tax |
25.6 |
18.2 |
8.5 |
17.6 |
15.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
12.4 |
8.4 |
4.3 |
7.5 |
7.1 |
|
Income After Tax |
13.2 |
9.9 |
4.2 |
10.1 |
8.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.6 |
-0.8 |
-0.3 |
-0.2 |
-0.1 |
|
Net Income Before Extraord Items |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
Net Income |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
|
|
|
|
|
|
|
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 |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
11.5 |
11.5 |
11.6 |
11.8 |
12.0 |
|
Basic EPS Excl Extraord Items |
1.10 |
0.79 |
0.33 |
0.84 |
0.68 |
|
Basic/Primary EPS Incl Extraord Items |
1.10 |
0.79 |
0.33 |
0.84 |
0.68 |
|
Diluted Net Income |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
Diluted Weighted Average Shares |
11.5 |
11.5 |
11.6 |
11.8 |
12.0 |
|
Diluted EPS Excl Extraord Items |
1.10 |
0.79 |
0.33 |
0.84 |
0.68 |
|
Diluted EPS Incl Extraord Items |
1.10 |
0.79 |
0.33 |
0.84 |
0.68 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.7 |
0.8 |
1.1 |
1.1 |
1.0 |
|
Depreciation, Supplemental |
2.8 |
2.6 |
2.7 |
1.4 |
0.4 |
|
Total Special Items |
4.3 |
6.5 |
2.9 |
0.3 |
0.6 |
|
Normalized Income Before Tax |
29.9 |
24.8 |
11.4 |
18.0 |
15.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.3 |
2.3 |
0.9 |
-0.2 |
-0.1 |
|
Inc Tax Ex Impact of Sp Items |
13.7 |
10.7 |
5.2 |
7.3 |
7.0 |
|
Normalized Income After Tax |
16.2 |
14.1 |
6.2 |
10.7 |
8.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.6 |
13.3 |
5.9 |
10.5 |
8.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.36 |
1.16 |
0.51 |
0.89 |
0.74 |
|
Diluted Normalized EPS |
1.36 |
1.16 |
0.51 |
0.89 |
0.74 |
|
Amort of Acquisition Costs, Supplemental |
1.6 |
1.5 |
1.2 |
0.9 |
0.8 |
|
Rental Expenses |
2.2 |
1.9 |
1.7 |
3.3 |
3.5 |
|
Reported Operating Profit |
26.9 |
21.9 |
9.5 |
16.5 |
14.4 |
|
Reported Ordinary Profit |
28.3 |
23.3 |
10.2 |
17.1 |
15.1 |
|
Normalized EBIT |
26.9 |
21.9 |
9.5 |
16.5 |
14.4 |
|
Normalized EBITDA |
31.4 |
26.0 |
13.4 |
18.8 |
15.6 |
|
Current Tax - Total |
12.6 |
8.0 |
- |
- |
- |
|
Current Tax - Total |
12.6 |
8.0 |
- |
- |
- |
|
Deferred Tax - Total |
-0.2 |
0.4 |
- |
- |
- |
|
Deferred Tax - Total |
-0.2 |
0.4 |
- |
- |
- |
|
Income Tax - Total |
12.4 |
8.4 |
- |
- |
- |
|
Interest Cost - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Service Cost - Domestic |
0.4 |
0.4 |
0.4 |
0.3 |
0.4 |
|
Actuarial Gains and Losses - Domestic |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Domestic Pension Plan Expense |
0.6 |
0.6 |
0.5 |
0.4 |
0.5 |
|
Defined Contribution Expense - Domestic |
0.4 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Total Pension Expense |
0.9 |
0.9 |
0.8 |
0.7 |
0.8 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Total Plan Interest Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Plan Service Cost |
0.4 |
0.4 |
0.4 |
0.3 |
0.4 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
77.08 |
83.54 |
89.535 |
106.165 |
115.015 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
30.0 |
25.1 |
21.9 |
12.7 |
12.7 |
|
Short Term Investments |
- |
- |
0.0 |
0.0 |
0.1 |
|
Cash and Short Term Investments |
30.0 |
25.1 |
21.9 |
12.7 |
12.7 |
|
Accounts Receivable -
Trade, Gross |
139.8 |
125.5 |
101.6 |
113.3 |
115.6 |
|
Provision for Doubtful
Accounts |
-0.3 |
-0.3 |
-0.3 |
-0.3 |
-0.7 |
|
Trade Accounts Receivable - Net |
139.5 |
125.2 |
101.3 |
113.1 |
115.0 |
|
Total Receivables, Net |
139.5 |
125.2 |
101.3 |
113.1 |
115.0 |
|
Inventories - Finished Goods |
52.8 |
48.4 |
38.8 |
43.6 |
- |
|
Inventories - Work In Progress |
0.1 |
0.1 |
0.2 |
0.0 |
- |
|
Inventories - Raw Materials |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Inventory |
52.8 |
48.5 |
39.0 |
43.7 |
40.9 |
|
Deferred Income Tax - Current Asset |
1.5 |
1.1 |
1.1 |
1.2 |
1.0 |
|
Other Current Assets |
4.6 |
4.8 |
3.3 |
5.3 |
3.0 |
|
Other Current Assets, Total |
6.1 |
5.9 |
4.4 |
6.5 |
3.9 |
|
Total Current Assets |
228.5 |
204.7 |
166.7 |
175.9 |
172.5 |
|
|
|
|
|
|
|
|
Buildings |
28.3 |
25.9 |
24.2 |
20.4 |
2.8 |
|
Land/Improvements |
3.3 |
5.2 |
4.8 |
4.1 |
3.7 |
|
Machinery/Equipment |
3.9 |
3.6 |
3.4 |
2.8 |
1.6 |
|
Construction in
Progress |
- |
- |
- |
0.0 |
2.0 |
|
Other
Property/Plant/Equipment |
2.9 |
2.6 |
2.4 |
1.6 |
1.5 |
|
Property/Plant/Equipment - Gross |
38.3 |
37.2 |
34.8 |
28.8 |
11.6 |
|
Accumulated Depreciation |
-12.4 |
-9.5 |
-7.0 |
-4.3 |
-3.4 |
|
Property/Plant/Equipment - Net |
26.0 |
27.7 |
27.8 |
24.5 |
8.1 |
|
Goodwill, Net |
3.1 |
4.3 |
5.9 |
1.5 |
2.2 |
|
Intangibles, Net |
1.1 |
1.6 |
1.8 |
1.7 |
1.9 |
|
LT Investment - Affiliate Companies |
1.4 |
1.3 |
0.9 |
1.3 |
1.3 |
|
LT Investments - Other |
18.9 |
17.7 |
17.5 |
19.0 |
23.2 |
|
Long Term Investments |
20.3 |
18.9 |
18.4 |
20.3 |
24.5 |
|
Note Receivable - Long Term |
0.7 |
0.5 |
0.4 |
0.4 |
0.3 |
|
Deferred Income Tax - Long Term Asset |
2.8 |
2.6 |
5.3 |
2.6 |
0.6 |
|
Other Long Term Assets |
6.6 |
5.7 |
5.3 |
3.1 |
2.9 |
|
Other Long Term Assets, Total |
9.4 |
8.3 |
10.6 |
5.8 |
3.5 |
|
Total Assets |
288.9 |
266.1 |
231.5 |
230.1 |
213.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
78.8 |
72.5 |
57.2 |
61.6 |
60.4 |
|
Accrued Expenses |
0.8 |
0.6 |
0.2 |
0.3 |
0.3 |
|
Notes Payable/Short Term Debt |
4.6 |
9.5 |
9.5 |
16.6 |
32.4 |
|
Current Portion - Long Term Debt/Capital Leases |
19.3 |
7.9 |
7.4 |
14.3 |
- |
|
Income Taxes Payable |
7.2 |
5.1 |
2.3 |
3.4 |
3.9 |
|
Other Payables |
2.3 |
2.8 |
2.5 |
3.8 |
4.4 |
|
Other Current Liabilities |
7.7 |
6.2 |
6.5 |
7.3 |
5.3 |
|
Other Current liabilities, Total |
17.2 |
14.1 |
11.3 |
14.5 |
13.6 |
|
Total Current Liabilities |
120.7 |
104.5 |
85.5 |
107.2 |
106.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
9.2 |
24.0 |
27.1 |
22.1 |
17.2 |
|
Total Long Term Debt |
9.2 |
24.0 |
27.1 |
22.1 |
17.2 |
|
Total Debt |
33.1 |
41.4 |
43.9 |
53.0 |
49.6 |
|
|
|
|
|
|
|
|
Minority Interest |
3.7 |
3.4 |
3.0 |
1.4 |
1.1 |
|
Reserves |
0.1 |
0.0 |
- |
- |
- |
|
Pension Benefits - Underfunded |
9.6 |
9.0 |
8.8 |
7.1 |
7.0 |
|
Other Long Term Liabilities |
3.7 |
3.6 |
3.9 |
2.8 |
2.1 |
|
Other Liabilities, Total |
13.4 |
12.5 |
12.7 |
9.8 |
9.1 |
|
Total Liabilities |
147.0 |
144.4 |
128.2 |
140.5 |
134.1 |
|
|
|
|
|
|
|
|
Common Stock |
8.3 |
7.6 |
7.1 |
6.0 |
5.6 |
|
Common Stock |
8.3 |
7.6 |
7.1 |
6.0 |
5.6 |
|
Retained Earnings (Accumulated Deficit) |
142.8 |
121.5 |
105.5 |
86.8 |
72.4 |
|
Treasury Stock - Common |
-6.4 |
-5.9 |
-5.5 |
-3.3 |
-3.0 |
|
Translation Adjustment |
-3.9 |
-2.5 |
-1.8 |
-0.7 |
-0.1 |
|
Other Comprehensive Income |
1.0 |
1.0 |
-2.1 |
0.7 |
4.1 |
|
Other Equity, Total |
-2.8 |
-1.5 |
-3.9 |
0.0 |
4.0 |
|
Total Equity |
141.9 |
121.7 |
103.2 |
89.6 |
78.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
288.9 |
266.1 |
231.5 |
230.1 |
213.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
11.5 |
11.5 |
11.5 |
11.8 |
11.8 |
|
Total Common Shares Outstanding |
11.5 |
11.5 |
11.5 |
11.8 |
11.8 |
|
Treasury Shares - Common Stock Primary Issue |
1.3 |
1.3 |
1.3 |
1.0 |
1.0 |
|
Employees |
240 |
233 |
238 |
213 |
201 |
|
Total Long Term Debt, Supplemental |
28.5 |
- |
34.5 |
36.4 |
17.8 |
|
Long Term Debt Maturing within 1 Year |
19.3 |
- |
7.4 |
14.3 |
0.6 |
|
Long Term Debt Maturing in Year 2 |
9.2 |
- |
7.4 |
5.3 |
10.1 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
15.7 |
6.2 |
1.7 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
4.0 |
7.2 |
2.6 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
3.4 |
2.8 |
|
Long Term Debt Maturing in 2-3 Years |
9.2 |
- |
23.1 |
11.5 |
11.8 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
4.0 |
10.6 |
5.4 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Total Capital Leases, Supplemental |
0.3 |
- |
0.5 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
0.2 |
- |
0.2 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.0 |
- |
0.2 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.0 |
- |
0.1 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
- |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
- |
0.0 |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.1 |
- |
0.3 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
- |
- |
0.0 |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
- |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
6.8 |
6.5 |
6.4 |
5.4 |
5.4 |
|
Plan Assets - Domestic |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Funded Status - Domestic |
-6.6 |
-6.4 |
-6.2 |
-5.3 |
-5.3 |
|
Total Funded Status |
-6.6 |
-6.4 |
-6.2 |
-5.3 |
-5.3 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Accrued Liabilities - Domestic |
-6.6 |
-6.4 |
-6.2 |
-5.3 |
-5.3 |
|
Net Assets Recognized on Balance Sheet |
-6.6 |
-6.4 |
-6.2 |
-5.3 |
-5.3 |
|
Total Plan Obligations |
6.8 |
6.5 |
6.4 |
5.4 |
5.4 |
|
Total Plan Assets |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
Annual Cash Flows
Financials in: USD (mil)
|
|
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.024986 |
89.620246 |
95.204123 |
107.716107 |
118.930779 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
25.6 |
18.2 |
8.5 |
17.6 |
15.3 |
|
Depreciation |
2.8 |
2.6 |
2.7 |
1.4 |
0.4 |
|
Depreciation/Depletion |
2.8 |
2.6 |
2.7 |
1.4 |
0.4 |
|
Amortization of Acquisition Costs |
1.6 |
1.5 |
1.2 |
0.9 |
0.8 |
|
Amortization |
1.6 |
1.5 |
1.2 |
0.9 |
0.8 |
|
Unusual Items |
2.5 |
5.1 |
1.8 |
0.1 |
0.1 |
|
Other Non-Cash Items |
0.0 |
-0.3 |
0.3 |
-0.3 |
0.3 |
|
Non-Cash Items |
2.5 |
4.8 |
2.1 |
-0.2 |
0.4 |
|
Accounts Receivable |
-5.4 |
-16.4 |
32.7 |
10.4 |
2.1 |
|
Inventories |
-0.9 |
-6.6 |
13.4 |
0.3 |
-6.0 |
|
Prepaid Expenses |
- |
- |
- |
0.0 |
0.4 |
|
Accounts Payable |
1.8 |
11.3 |
-16.8 |
-2.7 |
1.4 |
|
Accrued Expenses |
-0.4 |
0.0 |
-0.2 |
-0.2 |
-0.2 |
|
Other Liabilities |
0.8 |
0.3 |
-1.5 |
1.4 |
-0.4 |
|
Other Operating Cash Flow |
-10.6 |
-6.5 |
-6.4 |
-10.6 |
-3.6 |
|
Changes in Working Capital |
-14.8 |
-17.9 |
21.3 |
-1.4 |
-6.2 |
|
Cash from Operating Activities |
17.8 |
9.3 |
35.8 |
18.3 |
10.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-0.4 |
-0.2 |
-0.3 |
-16.5 |
-2.8 |
|
Purchase/Acquisition of Intangibles |
-0.1 |
-0.2 |
-0.4 |
-0.3 |
-1.3 |
|
Capital Expenditures |
-0.4 |
-0.5 |
-0.7 |
-16.7 |
-4.1 |
|
Acquisition of Business |
- |
- |
-7.0 |
0.0 |
-2.2 |
|
Sale/Maturity of Investment |
0.3 |
0.3 |
1.1 |
0.2 |
1.1 |
|
Purchase of Investments |
-0.8 |
-1.1 |
-1.5 |
-0.4 |
-1.8 |
|
Other Investing Cash Flow |
-0.1 |
0.3 |
-1.0 |
0.1 |
0.3 |
|
Other Investing Cash Flow Items, Total |
-0.6 |
-0.5 |
-8.5 |
-0.1 |
-2.6 |
|
Cash from Investing Activities |
-1.0 |
-0.9 |
-9.1 |
-16.8 |
-6.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.5 |
-0.2 |
0.0 |
0.0 |
0.0 |
|
Financing Cash Flow Items |
-0.5 |
-0.2 |
0.0 |
0.0 |
0.0 |
|
Cash Dividends Paid - Common |
-2.0 |
-1.3 |
-1.9 |
-1.6 |
-1.5 |
|
Total Cash Dividends Paid |
-2.0 |
-1.3 |
-1.9 |
-1.6 |
-1.5 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
-1.5 |
0.0 |
-1.6 |
|
Common Stock, Net |
0.0 |
0.0 |
-1.5 |
0.0 |
-1.6 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
-1.5 |
0.0 |
-1.6 |
|
Short Term Debt, Net |
-5.3 |
-0.4 |
-9.9 |
-17.7 |
-0.1 |
|
Long Term Debt Issued |
2.5 |
2.8 |
6.8 |
17.6 |
7.8 |
|
Long Term Debt
Reduction |
-8.1 |
-7.4 |
-14.3 |
-0.5 |
-5.4 |
|
Long Term Debt, Net |
-5.7 |
-4.6 |
-7.5 |
17.1 |
2.3 |
|
Issuance (Retirement) of Debt, Net |
-11.0 |
-5.0 |
-17.4 |
-0.6 |
2.2 |
|
Cash from Financing Activities |
-13.5 |
-6.5 |
-20.8 |
-2.2 |
-0.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.6 |
-0.4 |
-0.4 |
-0.3 |
0.2 |
|
Net Change in Cash |
2.7 |
1.5 |
5.5 |
-1.0 |
3.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
25.7 |
21.7 |
15.0 |
13.5 |
8.9 |
|
Net Cash - Ending Balance |
28.4 |
23.2 |
20.5 |
12.5 |
12.3 |
|
Cash Interest Paid |
0.7 |
0.8 |
1.1 |
1.0 |
1.0 |
|
Cash Taxes Paid |
11.1 |
5.5 |
5.8 |
8.1 |
4.4 |
Annual Income Statement
Financials in: USD (mil),
Except for share items (millions) and per share items (actual units),
|
|
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.024986 |
89.620246 |
95.204123 |
107.716107 |
118.930779 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
602.2 |
529.6 |
423.7 |
496.2 |
439.6 |
|
Total Revenue |
602.2 |
529.6 |
423.7 |
496.2 |
439.6 |
|
|
|
|
|
|
|
|
Cost of Sales |
511.8 |
453.4 |
367.1 |
433.6 |
384.5 |
|
Compensation & Salaries |
25.2 |
21.5 |
18.3 |
17.2 |
16.3 |
|
Provision for directors' Bonuses - SGA |
0.6 |
0.4 |
0.0 |
0.2 |
0.2 |
|
Retirement benefit expenses |
0.9 |
0.9 |
0.8 |
0.7 |
0.8 |
|
Welfare Expense |
3.9 |
3.0 |
2.6 |
2.2 |
2.0 |
|
Provison for directors' retire.benef. |
0.3 |
0.3 |
0.4 |
0.2 |
0.2 |
|
Depreciation - SGA |
2.1 |
1.9 |
2.0 |
1.1 |
0.3 |
|
Amortization of Goodwill - SGA |
1.8 |
1.6 |
1.2 |
0.9 |
0.8 |
|
Haulage Expense |
3.7 |
3.3 |
2.5 |
2.9 |
2.7 |
|
Warehousing Exp |
4.1 |
3.7 |
3.3 |
3.0 |
2.5 |
|
Traveling & Transportation Expense |
3.5 |
2.8 |
2.5 |
2.7 |
2.8 |
|
Entertainment |
1.5 |
1.3 |
1.1 |
1.3 |
0.9 |
|
Leasehold And Office Rents |
2.2 |
1.9 |
1.7 |
3.3 |
3.5 |
|
Other General and Administrative Expense |
13.6 |
11.8 |
10.5 |
10.4 |
7.8 |
|
Other Selling/General/Admin. Expense |
0.0 |
0.0 |
- |
- |
- |
|
SP Gain on reversal of debts |
0.0 |
-1.4 |
- |
- |
- |
|
SP Reversal of Allowance-Dtful Account |
0.0 |
-0.1 |
0.0 |
-0.4 |
-0.1 |
|
SP settle.G for prior year purch.price |
- |
- |
- |
- |
-0.2 |
|
SP compensation income |
- |
- |
- |
- |
-0.1 |
|
SP Rev.G for cancel of insurance |
- |
- |
0.0 |
-0.3 |
0.0 |
|
SPStanding compensa.G for branch office |
- |
- |
0.0 |
-0.1 |
0.0 |
|
SP Valua.L for membership of golf |
0.0 |
0.1 |
0.1 |
0.0 |
0.1 |
|
SP Branch office relocation expenses |
- |
- |
- |
0.0 |
0.1 |
|
SP valua.L of LT inv. sec. |
0.3 |
6.4 |
1.7 |
0.0 |
0.1 |
|
SP L on head office relocation |
- |
- |
0.0 |
0.1 |
0.0 |
|
SP prior year consumtion tax |
- |
- |
0.0 |
0.1 |
0.0 |
|
SP Adjust.L for account. change |
0.1 |
0.0 |
- |
- |
- |
|
SP Impairment Loss |
2.2 |
0.0 |
- |
- |
- |
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
577.9 |
512.8 |
415.9 |
479.2 |
425.1 |
|
|
|
|
|
|
|
|
NOP Interest Income |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
NOP Dividends Income |
0.5 |
0.4 |
0.6 |
0.4 |
0.3 |
|
NOP Foreign Exc Gain |
0.9 |
1.1 |
0.6 |
1.2 |
1.2 |
|
NOPG/Lon Invest. HFS, Maturity & Trading |
0.1 |
0.3 |
- |
- |
- |
|
NOP G on sale of LT inv. sec. |
- |
- |
- |
0.0 |
0.1 |
|
NOP Other Non-Operating Income |
1.0 |
0.7 |
0.9 |
0.5 |
0.5 |
|
NOP Interest Expense |
-0.7 |
-0.8 |
-1.1 |
-1.1 |
-1.0 |
|
NOP Sale Discounts |
-0.2 |
0.0 |
- |
- |
- |
|
NOP L on sale of LT inv. sec. |
- |
- |
0.0 |
0.0 |
0.0 |
|
NOP Other Non-Operating Expense |
-0.3 |
-0.3 |
-0.3 |
-0.5 |
-0.3 |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
25.6 |
18.2 |
8.5 |
17.6 |
15.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
12.4 |
8.4 |
4.3 |
7.5 |
7.1 |
|
Net Income After Taxes |
13.2 |
9.9 |
4.2 |
10.1 |
8.2 |
|
|
|
|
|
|
|
|
Minority Interests |
-0.6 |
-0.8 |
-0.3 |
-0.2 |
-0.1 |
|
Net Income Before Extra. Items |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
Net Income |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
11.5 |
11.5 |
11.6 |
11.8 |
12.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.10 |
0.79 |
0.33 |
0.84 |
0.68 |
|
Basic EPS Including ExtraOrdinary Items |
1.10 |
0.79 |
0.33 |
0.84 |
0.68 |
|
Diluted Net Income |
12.6 |
9.1 |
3.8 |
9.9 |
8.2 |
|
Diluted Weighted Average Shares |
11.5 |
11.5 |
11.6 |
11.8 |
12.0 |
|
Diluted EPS Excluding ExtraOrd Items |
1.10 |
0.79 |
0.33 |
0.84 |
0.68 |
|
Diluted EPS Including ExtraOrd Items |
1.10 |
0.79 |
0.33 |
0.84 |
0.68 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
29.9 |
24.8 |
11.4 |
18.0 |
15.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
13.7 |
10.7 |
5.2 |
7.3 |
7.0 |
|
Normalized Income After Taxes |
16.2 |
14.1 |
6.2 |
10.7 |
8.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.6 |
13.3 |
5.9 |
10.5 |
8.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.36 |
1.16 |
0.51 |
0.89 |
0.74 |
|
Diluted Normalized EPS |
1.36 |
1.16 |
0.51 |
0.89 |
0.74 |
|
Leasehold And Office Rents |
2.2 |
1.9 |
1.7 |
3.3 |
3.5 |
|
Interest Expense |
0.7 |
0.8 |
1.1 |
1.1 |
1.0 |
|
Dep. of Tangible Assets-Current Portion |
2.8 |
2.6 |
2.7 |
1.4 |
0.4 |
|
Amortization of Goodwill - footnote |
1.6 |
1.5 |
1.2 |
0.9 |
0.8 |
|
Income Taxes - Current |
12.6 |
8.0 |
- |
- |
- |
|
Current Tax - Total |
12.6 |
8.0 |
- |
- |
- |
|
Income Taxes - Deferred |
-0.2 |
0.4 |
- |
- |
- |
|
Deferred Tax - Total |
-0.2 |
0.4 |
- |
- |
- |
|
Income Tax - Total |
12.4 |
8.4 |
- |
- |
- |
|
Reported Operating Profit |
26.9 |
21.9 |
9.5 |
16.5 |
14.4 |
|
Reported Ordinary Profit |
28.3 |
23.3 |
10.2 |
17.1 |
15.1 |
|
Service Cost |
0.4 |
0.4 |
0.4 |
0.3 |
0.4 |
|
Interest Cost |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Recognized Actuarial Gain and Loss |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Domestic Pension Plan Expense |
0.6 |
0.6 |
0.5 |
0.4 |
0.5 |
|
Defined Contribution Expense |
0.4 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Total Pension Expense |
0.9 |
0.9 |
0.8 |
0.7 |
0.8 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
77.08 |
83.54 |
89.535 |
106.165 |
115.015 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Deposits |
30.0 |
25.1 |
21.9 |
12.7 |
12.7 |
|
Notes and Accounts Receivable - Trade |
139.8 |
125.5 |
101.6 |
113.3 |
115.6 |
|
Marketable securities |
- |
- |
0.0 |
0.0 |
0.1 |
|
Total Inventory |
- |
- |
- |
- |
40.9 |
|
Finished Goods and Merchandise |
52.8 |
48.4 |
38.8 |
43.6 |
- |
|
Work in Process |
0.1 |
0.1 |
0.2 |
0.0 |
- |
|
Raw Materials and Supplies |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Deferred Tax Assets - Current Assets |
1.5 |
1.1 |
1.1 |
1.2 |
1.0 |
|
Other Current Assets |
4.6 |
4.8 |
3.3 |
5.3 |
3.0 |
|
Allow For Dtful Accounts Current Assets |
-0.3 |
-0.3 |
-0.3 |
-0.3 |
-0.7 |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Assets |
228.5 |
204.7 |
166.7 |
175.9 |
172.5 |
|
|
|
|
|
|
|
|
Buildings and Structures - Gross |
28.3 |
25.9 |
24.2 |
20.4 |
2.8 |
|
Accum Dep & Impairment Loss of Buildings |
-8.7 |
-6.5 |
-4.6 |
-2.6 |
-1.9 |
|
Machinery, Equipment and Vehicles Gross |
3.9 |
3.6 |
3.4 |
2.8 |
1.6 |
|
Acc.
Depre&Impair-Machine,Equip&Vehicle |
-1.7 |
-1.4 |
-1.1 |
-0.6 |
-0.5 |
|
Land |
3.3 |
5.2 |
4.8 |
4.1 |
3.7 |
|
Construction-in-progress |
- |
- |
- |
0.0 |
2.0 |
|
Other Depreciable Assets - Gross |
2.9 |
2.6 |
2.4 |
1.6 |
1.5 |
|
Acc. Depre&Impair Loss-OTH Tangible AST |
-2.0 |
-1.6 |
-1.3 |
-1.1 |
-1.1 |
|
Property/Plant/Equipment, Total - Net |
0.0 |
0.0 |
- |
- |
- |
|
Goodwill |
3.1 |
4.3 |
5.9 |
1.5 |
2.2 |
|
Other Total Intangible Assets, Net |
0.0 |
- |
- |
- |
- |
|
Other Intangible Assets |
1.1 |
1.6 |
1.8 |
1.7 |
1.9 |
|
Invt Secs Noncons, Asc, Affd Cos |
0.2 |
0.2 |
0.2 |
0.7 |
0.7 |
|
Other LT investments for sale/maturity |
18.9 |
17.7 |
17.5 |
19.0 |
23.2 |
|
Long-term Loan Receivable |
0.7 |
0.5 |
0.4 |
0.4 |
0.3 |
|
Deferred Tax Assets |
2.8 |
2.6 |
5.3 |
2.6 |
0.6 |
|
Invts in Capital Noncons, Ascd, Affd Cos |
1.2 |
1.1 |
0.7 |
0.6 |
0.6 |
|
Other Other Long Term Assets |
7.0 |
6.0 |
5.9 |
3.7 |
3.5 |
|
Allowance for Doubtful Receivables |
-0.4 |
-0.3 |
-0.6 |
-0.6 |
-0.6 |
|
Other Other Long Term Assets |
0.0 |
0.0 |
- |
- |
- |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Assets |
288.9 |
266.1 |
231.5 |
230.1 |
213.0 |
|
|
|
|
|
|
|
|
Notes and Accounts Payable -Trade |
78.8 |
72.5 |
57.2 |
61.6 |
60.4 |
|
Short-term Loans Payable |
4.6 |
9.5 |
9.5 |
16.6 |
32.4 |
|
Current Portion of Lg-term Loans Payable |
19.3 |
7.9 |
7.4 |
14.3 |
- |
|
Accounts Payable - Other |
2.3 |
2.8 |
2.5 |
3.8 |
4.4 |
|
Accrued Income Taxes |
7.2 |
5.1 |
2.3 |
3.4 |
3.9 |
|
Provision for Bonuses |
0.2 |
0.2 |
0.2 |
0.2 |
0.1 |
|
Provision for Directors Bonuses |
0.6 |
0.4 |
0.0 |
0.2 |
0.2 |
|
Other Current Liabilities |
7.7 |
6.2 |
6.5 |
7.3 |
5.3 |
|
Rounding adjustment Liability |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Liabilities |
120.7 |
104.5 |
85.5 |
107.2 |
106.7 |
|
|
|
|
|
|
|
|
Long-term Loans Payable |
9.2 |
24.0 |
27.1 |
22.1 |
17.2 |
|
Total Long Term Debt |
9.2 |
24.0 |
27.1 |
22.1 |
17.2 |
|
|
|
|
|
|
|
|
Provision for Retirement Benefits |
6.6 |
6.4 |
6.2 |
5.3 |
5.3 |
|
Provision for directors' Retire.benef. |
3.1 |
2.6 |
2.5 |
1.8 |
1.7 |
|
Long-term Deposits Received |
3.0 |
2.8 |
2.7 |
2.4 |
1.7 |
|
Asset Retirement Obligations - NC Liabs |
0.1 |
0.0 |
- |
- |
- |
|
Other Liabilities |
0.6 |
0.7 |
1.2 |
0.4 |
0.4 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Equity Minority Interests |
3.7 |
3.4 |
3.0 |
1.4 |
1.1 |
|
Total Liabilities |
147.0 |
144.4 |
128.2 |
140.5 |
134.1 |
|
|
|
|
|
|
|
|
Capital Stock |
8.3 |
7.6 |
7.1 |
6.0 |
5.6 |
|
Retained Earnings |
142.8 |
121.5 |
105.5 |
86.8 |
72.4 |
|
Treasury Stock |
-6.4 |
-5.9 |
-5.5 |
-3.3 |
-3.0 |
|
Other Valuation and Translation Adj |
1.0 |
1.0 |
-2.1 |
0.7 |
4.1 |
|
Foreign Currency Translation Adjustment |
-3.9 |
-2.5 |
-1.8 |
-0.7 |
-0.1 |
|
Total Equity |
141.9 |
121.7 |
103.2 |
89.6 |
78.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
288.9 |
266.1 |
231.5 |
230.1 |
213.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
11.5 |
11.5 |
11.5 |
11.8 |
11.8 |
|
Total Common Shares Outstanding |
11.5 |
11.5 |
11.5 |
11.8 |
11.8 |
|
T/S-Common Stock |
1.3 |
1.3 |
1.3 |
1.0 |
1.0 |
|
Total Number of Employee |
240 |
233 |
238 |
213 |
201 |
|
Loans Payable Maturing within a Year |
19.3 |
- |
7.4 |
14.3 |
0.6 |
|
Lns Pble Maturing over a Yr within 2 Yrs |
9.2 |
- |
7.4 |
5.3 |
10.1 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
15.7 |
6.2 |
1.7 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
4.0 |
7.2 |
2.6 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
3.4 |
2.8 |
|
Total Long Term Debt, Supplemental |
28.5 |
- |
34.5 |
36.4 |
17.8 |
|
Capital Lease Maturing within a Year |
0.2 |
- |
0.2 |
- |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
0.0 |
- |
0.2 |
- |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
0.0 |
- |
0.1 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
- |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
- |
0.0 |
- |
- |
|
Other Capital Lease Remaining |
0.0 |
- |
0.0 |
- |
- |
|
Total Capital Leases, Supplemental |
0.3 |
- |
0.5 |
- |
- |
|
Projected Retirement Benefit Obligation |
6.8 |
6.5 |
6.4 |
5.4 |
5.4 |
|
Plan Assets at Fair Value |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Unfunded Retirement Benefit Obligation |
-6.6 |
-6.4 |
-6.2 |
-5.3 |
-5.3 |
|
Total Funded Status |
-6.6 |
-6.4 |
-6.2 |
-5.3 |
-5.3 |
|
Discount Rate(MIN)-Retirement Benefit Ob |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Accrued Retirement Benefits |
-6.6 |
-6.4 |
-6.2 |
-5.3 |
-5.3 |
|
Net Assets Recognized on Balance Sheet |
-6.6 |
-6.4 |
-6.2 |
-5.3 |
-5.3 |
Annual Cash Flows
Financials in: USD (mil)
|
|
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
30-Sep-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
81.024986 |
89.620246 |
95.204123 |
107.716107 |
118.930779 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
Ernst &
Young ShinNihon LLC |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income before tax |
25.6 |
18.2 |
8.5 |
17.6 |
15.3 |
|
Depreciation |
2.8 |
2.6 |
2.7 |
1.4 |
0.4 |
|
Impairment Loss - Cash Flow |
2.2 |
0.0 |
- |
- |
- |
|
Amortization of Goodwill -cash flow |
1.6 |
1.5 |
1.2 |
0.9 |
0.8 |
|
Incr/Decr in Allow for Dtful Accounts CF |
0.0 |
-0.3 |
-0.1 |
-0.5 |
-0.1 |
|
Inr/Dec in Rtirmt Bft Exp |
-0.3 |
-0.3 |
-0.1 |
-0.4 |
-0.3 |
|
Interest and Dividend Income - Cash Flow |
-0.5 |
-0.4 |
-0.6 |
-0.5 |
-0.3 |
|
Interest Expense - Cash Flow |
0.7 |
0.8 |
1.1 |
1.1 |
1.0 |
|
Foreign Exchange Gain/Loss - Cash Flow |
0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
G/L on Sales of LT Invt Secs |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
G/L on Val of LT Invt Secs |
0.3 |
6.4 |
1.7 |
0.0 |
0.1 |
|
Loss on valuation of membership |
0.0 |
0.1 |
0.1 |
0.0 |
0.1 |
|
L on retirement of ifxed assets |
- |
- |
- |
0.0 |
0.0 |
|
Incr/Decr in Note & Account Rcble Tr CF |
-5.4 |
-16.4 |
32.7 |
10.4 |
2.1 |
|
Incr /Decr in Inventories-Cash Flow |
-0.9 |
-6.6 |
13.4 |
0.3 |
-6.0 |
|
(Inc) Dec in advance payments |
- |
- |
- |
0.0 |
0.4 |
|
Incr/Decr in Tdg Note & Account Pbles CF |
1.8 |
11.3 |
-16.8 |
-2.7 |
1.4 |
|
Incr/Decr in advanced received CF |
0.8 |
0.3 |
-1.5 |
1.4 |
-0.4 |
|
Reserve for directors' bonuses |
-0.4 |
0.0 |
-0.2 |
-0.2 |
-0.2 |
|
Reversal of gain on debt |
0.0 |
-1.4 |
- |
- |
- |
|
Incr/Decr in Other Oper Activities CF |
0.6 |
-0.6 |
0.1 |
-1.2 |
2.1 |
|
Interest and Dividend Income Received CF |
0.5 |
0.4 |
0.4 |
0.5 |
0.3 |
|
Interest Expense Paid - Cash Flow |
-0.7 |
-0.8 |
-1.1 |
-1.0 |
-1.0 |
|
Cash paid for headoffice relocation |
- |
- |
0.0 |
-0.7 |
-0.6 |
|
Income Taxes Paid - Cash Flow |
-11.1 |
-5.5 |
-5.8 |
-8.1 |
-4.4 |
|
Other Operating Cash Flow |
0.0 |
0.0 |
- |
- |
- |
|
Cash from Operating Activities |
17.8 |
9.3 |
35.8 |
18.3 |
10.8 |
|
|
|
|
|
|
|
|
Payments into Time Deposits |
-0.2 |
-0.3 |
-0.2 |
0.0 |
- |
|
Proceeds from Withdrawal of Time Depos |
0.2 |
0.3 |
0.9 |
0.0 |
- |
|
Purchase of Property, Plant & Equipment |
-0.4 |
-0.2 |
-0.3 |
-16.5 |
-2.8 |
|
Purchase of Intangible Assets |
-0.1 |
-0.2 |
-0.4 |
-0.3 |
-1.3 |
|
Purchase of investment securities |
-0.3 |
-0.2 |
-1.4 |
-0.4 |
-1.1 |
|
Proceeds from sale of LT inv.sec. |
0.1 |
0.0 |
0.2 |
0.2 |
1.1 |
|
Pur. of conso. subs.'s stock |
- |
- |
-7.0 |
0.0 |
-2.2 |
|
Purchase Of Stocks Of affiliates |
-0.3 |
-0.2 |
- |
- |
-0.7 |
|
Payments for inv.capital of affliates |
0.0 |
-0.3 |
- |
- |
- |
|
Collection of Loans Receivable |
0.0 |
0.1 |
0.1 |
0.0 |
0.3 |
|
Payments for Lease & Guarantee Deposits |
-0.1 |
0.0 |
-0.1 |
-0.3 |
-0.2 |
|
Proc from Collection of Lease & Gnt Depo |
0.0 |
0.0 |
0.1 |
0.2 |
0.0 |
|
Incr/Decr in Other Investing Activities |
0.0 |
0.2 |
-1.1 |
0.2 |
0.1 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Cash from Investing Activities |
-1.0 |
-0.9 |
-9.1 |
-16.8 |
-6.7 |
|
|
|
|
|
|
|
|
Short-term Loans Payable, Net |
-5.3 |
-0.4 |
-9.9 |
-17.7 |
-0.1 |
|
Proceeds from Long-term Loans Payable |
2.5 |
2.8 |
6.8 |
17.6 |
7.8 |
|
Repayments of Long-term Loans Payable |
-8.1 |
-7.4 |
-14.3 |
-0.5 |
-5.4 |
|
Purchase of Treasury Stock |
0.0 |
0.0 |
-1.5 |
0.0 |
-1.6 |
|
Cash Dividends Paid |
-2.0 |
-1.3 |
-1.9 |
-1.6 |
-1.5 |
|
Dividends paid to minority shareholders |
- |
- |
- |
0.0 |
0.0 |
|
Incr/Decr in Other Financing Activities |
-0.5 |
-0.2 |
0.0 |
0.0 |
- |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Cash from Financing Activities |
-13.5 |
-6.5 |
-20.8 |
-2.2 |
-0.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.6 |
-0.4 |
-0.4 |
-0.3 |
0.2 |
|
Net Change in Cash |
2.7 |
1.5 |
5.5 |
-1.0 |
3.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
25.7 |
21.7 |
15.0 |
13.5 |
8.9 |
|
Net Cash - Ending Balance |
28.4 |
23.2 |
20.5 |
12.5 |
12.3 |
|
Cash Interest Paid |
0.7 |
0.8 |
1.1 |
1.0 |
1.0 |
|
Cash Taxes Paid |
11.1 |
5.5 |
5.8 |
8.1 |
4.4 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
UK Pound |
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.