MIRA
INFORM REPORT
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Report Date : |
02.10.2012 |
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Tel. No.: |
+81 6 62055085 |
IDENTIFICATION DETAILS
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Name : |
MITSUBISHI TANABE PHARMA CORPORATION |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
15.12.1933 |
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Legal Form : |
Public Branch |
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Line of Business : |
Manufacture of basic pharmaceutical products |
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No. of Employees : |
9,180 |
RATING & COMMENTS
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MIRAs Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 and address
Mitsubishi Tanabe
Pharma Corporation
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Business
Description
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Mitsubishi Tanabe Pharma Corporation is a Japan-based company mainly
engaged in the manufacture and sale of pharmaceutical products. The Company
operates in two business segments. The Medical Supplies segment is engaged in
the research, development, manufacture and sale of ethical pharmaceutical and
non-prescription drugs. The Others segment is engaged in the manufacture,
purchase and sale of chemical products, as well as the management of real
estate. As of March 31, 2012, the Company had 31 subsidiaries and three
associated companies. For the three months ended 30 June 2012, Mitsubishi
Tanabe Pharma Corporation revenues increased 2% to Y104.39B. Net income
decreased 5% to Y10.81B. Revenues reflect an increase in demand for the
Company's products and services due to favorable market conditions. Net
income was offset by Other SGA increase of 15% to Y11.27B (expense), Research
& Develop. increase of 7% to Y16.92B (expense). |
Industry
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Industry |
Biotechnology and Drugs |
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ANZSIC 2006: |
1841 - Human Pharmaceutical and Medicinal
Product Manufacturing |
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NACE 2002: |
2441 - Manufacture of basic pharmaceutical
products |
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NAICS 2002: |
325411 - Medicinal and Botanical
Manufacturing |
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UK SIC 2003: |
2441 - Manufacture of basic pharmaceutical
products |
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UK SIC 2007: |
2110 - Manufacture of basic pharmaceutical
products |
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US SIC 1987: |
2833 - Medicinal Chemicals and Botanical
Products |
Key Executives
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Significant
Developments
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* number of significant developments within the last 12 months |
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News
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Financial
Summary
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Stock Snapshot
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1 - Profit &
Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536
Corporate Overview
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Mitsubishi
Tanabe Pharma Corporation 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
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Key Organizational Changes |
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In October 2010, the First Committee on Pharmaceutical Products of the
Pharmaceutical Affairs and Food Sanitation Council issued a pre-assessment
report that an 'application for approval of additional indication for a
publicly known prescription' may be filed with the Ministry. Based on this
pre-assessment report, Benesis filed an application for approval of
additional indication for a publicly known prescription in November 2010, and
the approval was obtained for the sensitization risk due to the D(Rho) factor
around the 28th week of pregnancy, or after miscarriage or artificial
abortion. Mitsubishi and Benesis expect that, by the acquisition of this
approval for additional indication, anti-D human immunoglobulin
I.M.1000-BENESIS will contribute greatly to the prevention of hemolytic
disorders among newborns in pregnancies with rhesus incompatibility.May 20,
2011Mitsubishi Announces Approval For Additional Indication For MAINTATE
Tablets 0.625, 2.5, And 5mg And Launch Of MAINTATE Tablets 0.625mgMitsubishi
Tanabe Pharma Corporation (Mitsubishi) obtained approval for additional
indication for selective ß1 antagonist, MAINTATE tablets 0.625mg, 2.5mg, and
5mg, (generic name: JP bisoprolol fumarate tablets) for chronic heart failure
resulting from ischemic heart disease or dilated cardiomyopathy. Moreover,
MAINTATE 0.625mg, a tablet for exclusive use of chronic heart failure that is
listed on the list of standard drug prices, will be launched on June 3, 2011.
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Overview
Mitsubishi Tanabe Pharma Corporation (Mitsubishi Tanabe) is a
Japan-based company that manufactures and markets pharmaceutical products. The
company focuses on providing ethical drugs and OTC drugs. The company’s
ethical drugs cover five therapeutic categories, namely, cardiovascular drugs,
biological products, CNS drugs, gastrointestinal drugs, and allergy/respiratory
drugs. The company's wide range of products and strong research and development
capabilities give the company an edge over its competitors although certain
recall of certain products is a setback for the company. Uncertainties relating
to its research and development activities, increased scrutiny of drug imports
and changing dynamics of pharmaceutical market in Japan could have an adverse
impact on the future business growth of the company.
Strengths
Sturdy Research and Development Activities
Mitsubishi Tanabe has significant research findings through its focused
research and development activities. The company’s franchise areas of
research include: immunology and inflammatory diseases, diabetes and lipid
metabolism disorders, and hepatic diseases, and renal diseases. The company’s
R&D activities have positioned metabolism and circulation as priority
fields, with diabetes and cerebral infection as focus disease areas. The
company’s diabetes agents include: SGLT-2 inhibitor TA-7284 and DPP4
inhibitors MP-513 and TA-6666. Mitsubishi Tanabe had filed an NDA in Japan for
MP-513 in April 2011 and TA-7284 in Phase III clinical trials. Mitsubishi
Tanabe agents for multiple sclerosis, are T-0047, a cell adhesion inhibitor and
FTY720, a sphingosine-1 phosphate receptor modulator. The company’s resolute
R&D activities have resulted in obtaining approval for Imusera, Japan’s
first oral drug for multiple sclerosis with a novel mode of action and an
additional indication for Novastan for heparin-induced thrombocytopenia and Modiodal
for sleep disorder treatment in the last few months. As of January 2012, its
product pipeline comprises six new products and six products for additional
indications in Japan; 13 new molecular entities in the overseas markets and 10
licensed out products. The company's expenditure on its research and
development activities was JPY65784m, JPY 83081m, JPY73,122m, and JPY59807m,
amounting to 16.1%, 20.5%, 17.6% and 18.9% of the total revenues in 2011, 2010,
2009, and 2008, respectively. The company's focused R&D activities have
enabled it to develop a broad and diversified portfolio of pipeline products,
in different phases of clinical trials. Mitsubishi Tanabe is focused on the
constant evaluation of its pipeline products for advancing most promising projects
to the next phases of clinical testing.
Improved Financial Performance
Mitsubishi Tanabe reported revenues of JPY409,540m during the fiscal
year ended March 2011, an increase of 1.2% over that of 2010. Its operating
profit was JPY63,490m during the fiscal year 2011, an increase of 26.3% over
that of 2010. The company's net profit reported an increase of 24.7% and
reached JPY37,735m for the fiscal year 2011, an increase of 24.7% over that of
2010. Its compound annual growth rate (CAGR) for revenue was 23.2% during
2007-2011. The company’s growth can be attributed to better competitive
positioning or superior products and services offering compared to other
companies in the sector. Mitsubishi Tanabe reported an operating margin of
15.5% for the fiscal year 2011 as compared to 12.4% in 2010. A higher operating
margin indicates efficient cost management or a strong pricing strategy by the
company. This reflects management's high focus on improving profitability. The
company reported an increase in its other profitability ratios, such as return
on equity, return on capital employed, return on assets, return on fixed assets
and return on working capital which improved from 4.5%, 7.0%, 3.8%, 11.1% and
18.9% in 2010 to 5.5%, 8.7%, 4.6%, 14.9% and 20.9% respectively in 2011. Its
net profit margin and PBT margin also improved from 7.5% and 12.6% in 2010 to
9.2% and 15.7% respectively in 2011.
Wide Array of Products
Mitsubishi Tanabe's broad product portfolio provides it a wide market
base. The products offered by the company fall into three main categories,
namely, Major Ethical Drugs; OTC Products; and Others. The Major Ethical Drugs
offered by the company again fall into five main categories, namely,
cardiovascular drugs, biological products, CNS drugs, gastrointestinal drugs,
and allergy/respiratory drugs. The important cardiovascular drugs offered by
the company include Anplag (anti-platelet), Tanatril (anti-hypertensive),
Herbesser (anti-anginal and anti-hypertensive), Sermion (cerebral circulation
and metabolism ameliorator), Maintate (anti-hypertensive, anti-anginal, and
anti-arrhythmic), and Liple (chronic arterial occlusion/circulatory
disturbance). Mitsubishi Tanabe's important biological products include
Remicade (anti-rheumatoid arthritis, Crohn’s disease, anti-refractory
uveoretinitis by Bechet’s disease, psoriasis, ankylosing spondylitis,
Ulcerative colitis), Venoglobulin-IH (intravenous human immunoglobulin), and
Neuart (anticoagulant). The CNS drugs of the company include Radicut (cerebral
neuroprotectant), Ceredist (anti-spinocerebellar degeneration), and Depas
(anxiolytic agent). The drugs under the gastrointestinal category include Urso
(agent for improving hepatic, biliary, and digestive functions), and Omeprazon
(proton pump inhibitor). Its allergy/respiratory drug is Talion. Besides, the
company also provides OTC Products, such as Nan Pao (herbal medicine,
mini-drinks), Smart-Eye (eye drops), and Digestive medicine Agents for treating
skin conditions. Under Others category, the company is involved in the
manufacture and sale of fine chemicals and active pharmaceuticals
ingredients/intermediates. In November 2011, the company launched Imusera,
Japan’s first oral drug for multiple sclerosis with a novel mode of action.
For the fiscal ended March, 2011, the contribution by these two segments to the
company's total sales was 97.7% and 2.3% respectively. A broad range of
products gives the company a wide customer base.
Weaknesses
HCV Litigation
The company faces the problem of ongoing litigation, as such litigations
not only puts burden of additional expense on the company but also seriously
effects the brand image of the company in the pharmaceutical industry. The
company is involved in a US patent litigation related to Argatoban against Barr
Laboratories. Argatoban is the world’s first antithrombin product indicated
for heparin-induced thrombocytopenia. The company is also facing lawsuits filed
by people infected with HCV through use of specific fibrinogen products or
specific coagulation factor IX products. In 2008, the Japanese government
enforced a law providing relief to people infected through use of specific
fibrinogen products. The settlement puts an additional burden of JPY20 billion on
the company. Such litigations will seriously hamper the company's image in the
market and will have a negative impact on its future growth.
Product Recalls
Mitsubishi Tanabe was involved in the recall of some of its products,
which could raise doubts about the quality control processes of the company. In
January, 2011, the company recalled certain lots of three drugs (six dosage
sizes), which included Liple 5µg and 10 µg, a prostaglandin E1 Preparation;
Limethason Intravenous Injection 2.5 mg, which is a synthetic adrenocortical
hormone; and Pazucross Injection 300 mg and 500 mg, a quinolone antibacterial
agent for injections. In February, 2011, the company gave a notice for the
voluntary recall and termination of manufacturing and marketing of Serapeptitase.
Earlier, in April 2010, Mitsubishi and its consolidated subsidiary Bipha
received an administrative action for suspension of business and an order for
improvement from the Minister of Health, Labour and Welfare. This was towards
the violation of the Pharmaceutical Affairs Law. The company’s subsidiary
manufactured and sold the ethical drugs Medway Injection 25% and Medway
Injection 5% without ensuring proper manufacturing controls and quality
controls. Additionally, the subsidiary also submitted New Drug Application
(NDA) for these two products based on fraudulent acts. The occurrence of
incidents such as these could result in the damage of company’s reputation
among its patients and healthcare professionals and may have a material adverse
impact on the company’s financial position and results of operation. This
could also result in the product liability claims against the company.
Opportunities
Focus on Generic Operations
Generic drugs are expected to record further growth, with support from government-led
promotional initiatives. Mitsubishi Tanabe established a subsidiary, called,
Tanabe Seiyaku Hanbai Co., Ltd., to focus on promoting and marketing generic
drugs. Tanabe Seiyaku Hanbai along with wholesalers is involved in building a
transaction platform with pharmacies that fill prescriptions and diagnosis
procedure combination (DPC) hospitals. In March, 2011, the company announced
its plan to transfer the marketing rights of its five long-term listed drugs to
Tanabe Seiyaku Hanbai. These five drugs include ALEGYSAL (for allergic
disorders), AROFUTO (for myotonic diseases), INOLIN and BERACHIN
(Bronchodilators), and SESDAN (anticonvulsant). The company has started
transferring its long-term listed drugs to Tanabe Seiyaku Hanbai since 2009. It
transferred three drugs, including, ASPARA products and ASVERIN to Tanabe
Seiyaku Hanbai in 2010. Through Tanabe Seiyaku Hanbai, Mitsubishi Tanabe will
be able to supply generic and other affordable drugs to the consumers.
Strategic Alliances
Mitsubishi Tanabe is expanding its range of products to several
countries across the world though a spate of alliances with leading global
pharmaceuticals companies. As a part of its strategic intent to become a leader
in the domestic ethical drugs market, the company has alliances with several
pharmaceutical companies for joint research, joint development, product
licensing and introduction, commissioned production, commissioned sales, joint
promotion, and joint marketing. In March 2012, the company inked an agreement with
Daiichi Sankyo to jointly market its oral diabetes products TA-7284 and MP-513.
In January 2010 the company entered into an agreement with Mochida
Pharmaceutical, for the co-marketing for antidepressant, escitalopram in Japan.
Following the product’s approval in April 2011, its joint sales activities of
escitalopram branded as Lexapro began in August 2011. In November 2009, the
company entered into a agreement with Kureha to acquire its Kremezin, indicated
for the treatment for chronic renal failure. The marketing of the product began
in April 2011. The company also has a joint sales agreement with Jannsen
Pharmaceuticals to market Simponi a human TNF monoclonal antibody. In March
2012, the company entered into research agreement with Medicago, Inc. to use
Medicago’s technologies to develop new VLP vaccines. As a part of its efforts
to advance its R&D efforts the company also entered into joint research and
development alliances with and research institutions in Japan as well as
worldwide. In March 2011, the company entered into an R&D agreement with
Kyoto University for innovative search for new candidates for the treatment of
Chronic Kidney Disease (CKD). Nourishing a number of strategic alliances the
company aims to be one of the leaders in the market for ethical drugs in Japan.
Changing Demographics
The increasing population of people aged above 60, who consume more
medical solutions than the younger population and are more prone to chronic
diseases, holds significant market potential for the company. The United
Nations Population Division estimated that the number of people aged above 60
years throughout the world will triple to nearly 2 billion by 2050. Globally,
the population of older persons is growing at a rate of 2.6% annually.
According to the United Nations Population Division, people aged 60 are
projected to account for 22% of the total world population by 2050, up from 11%
in 2009. In developed economies such as the US, UK, France, Germany and Japan,
the percentage of the 65 and older population is in double digits and is
expected to continue to grow for the next seven years. Whilst developed
countries have managed to slow down their overall population growth, their
citizens’ longevity will cause concerns in the future. Such a situation will
increase the healthcare costs in those countries. The pace of aging population
is faster in developing countries than in developed countries. Due to the large
volume of the overall population in countries such as China and India, the
number of people getting older is quite high. In 2009, the number of persons
aged above 60 had increased three and a half times to 737 million. There were
12 countries with more than 10 million people aged above 60, including China
(160 million), India (89 million), the US (56 million), Japan (38 million), the
Russian Federation (25 million) and Germany (21 million). By 2050, 32 countries
are expected to have over 10 million people aged above 60, including five
countries with more than 50 million older people: China (440 million), India
(316 million), the US (111 million), Indonesia (72 million) and Brazil (64
million). This elderly population is expected to exert increasing pressure on
the healthcare system.
Threats
Emergence of Biogenerics/Biosimilars
The proposed regulatory approval for the introduction of biogenerics /
biosimilars, generic versions of biologic drugs, increases the threat of
uncertainty to the company. Until recently, there was no generic competition to
the biotech industry as there was no regulatory framework in place to approve
generic version of biotech drugs. Most regulators felt that biologic drugs,
unlike the pharmaceutical drugs, are hard to copy as they are manufactured from
living cells which are hard to replicate. However, the situation is changing
fast with the approval of Omnitrope, a generic version of human growth protein,
by the European regulatory authority. It also issued guidelines for approving
generic versions of select biologic drugs. The move towards establishing such a
regulatory framework in the US is likely to intensify in the near future with
Barack Obama, who is in favor of increased utilization of generics to control
the rising healthcare costs, making it one of his top priorities.
Uncertain R&D Outcomes
Adverse or inconclusive results from preclinical testing or clinical
trials may substantially delay or halt the development of the company's various
product candidates, consequently affecting its timeliness for profitability.
The outcome of clinical trials is always a subject of uncertainty. After the
discovery of a new compound, substantial amount of money and a great deal of
time need to be invested to successfully launch a new product. Moreover, it may
become necessary to discontinue clinical development if the effectiveness of a
drug is not proven as initially expected, or if serious adverse effects arise.
In addition, pharmaceuticals are subject to legal restrictions in every country
and authorization from regulatory authorities is a prerequisite for a product
launch in every country. It is difficult to accurately foresee when approvals
for a new product could be obtained.
Pharmaceutical Market Dynamics
The domestic pharmaceutical market in Japan was sluggish in recent years
due to factors such as government actions to control health care expenditures,
increase in the number of hospitals executing the diagnosis procedure
combination (DPC) system, influence of national health insurance (NHI), and
drug price reductions. Japan’s share of global drug sales is declining but it
still remains as the second largest drug market in the world. In addition, the
management environment for pharmaceutical companies is becoming increasingly
challenging. Moreover, the competition is also intensifying in the development
of new drugs in specified disease categories where satisfaction with existing
treatments is low. The level of R&D expenses required in new drug
development continues to climb due to such factors as increasingly advanced
discovery technologies and increasingly strict conditions for drug approval. In
2010, NHI drug prices were reduced, and the Japanese government introduced, on
a trial basis, a system offering pricing premiums to promote the discovery of
new drugs and to eliminate the so-called drug lag, which is the time between the
launch of drugs overseas and their approval for the same indication in Japan.
The pharmaceutical industry outside Japan also faced with problem in 2010 with
a large number of patent expiration would be concentrated in the US, the
world’s largest pharmaceutical market. So in this changing environment, it is
becoming increasingly evident that the company has to invest significantly in
R&D and discover new drugs to survive.
Corporate Structure News
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Mitsubishi
Tanabe Pharma Corporation |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Tokyo |
Japan |
Chemicals - Plastics and Rubber |
40,629.7 |
53,979 |
|
|
Subsidiary |
Tokyo |
Japan |
Chemicals - Plastics and Rubber |
23,568.3 |
27,828 |
|
|
Subsidiary |
Tokyo |
Japan |
Software and Programming |
262.2 |
841 |
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
416.7 |
673 |
|
|
Subsidiary |
Iwaki, Fukushima |
Japan |
Construction Services |
57.3 |
128 |
|
|
Subsidiary |
Iwaki, Fukushima |
Japan |
Chemical Manufacturing |
86.8 |
|
|
|
Subsidiary |
Iwaki, Fukushima |
Japan |
Trucking |
29.8 |
|
|
|
Subsidiary |
Osaka |
Japan |
Biotechnology and Drugs |
349.5 |
668 |
|
|
Unit |
Fukuoka |
Japan |
Biotechnology and Drugs |
|
400 |
|
|
Subsidiary |
Chikujo Gun |
Japan |
Biotechnology and Drugs |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
114.7 |
454 |
|
|
Subsidiary |
Tokyo |
Japan |
Biotechnology and Drugs |
125.0 |
380 |
|
|
Subsidiary |
Toshima-Ku, Tokyo |
Japan |
Engineering Consultants |
142.6 |
273 |
|
|
Subsidiary |
Singapore |
Singapore |
Fabricated Plastic and Rubber |
1.2 |
1 |
|
|
Subsidiary |
Tokyo |
Japan |
Chemicals - Plastics and Rubber |
|
220 |
|
|
Subsidiary |
Hukou Hsiang, Hsinchu |
Taiwan |
Chemical Manufacturing |
|
200 |
|
|
Subsidiary |
Muang, Samut Sakhon |
Thailand |
Chemicals - Plastics and Rubber |
|
190 |
|
|
Subsidiary |
Kuningan, Jakarta Selatan |
Indonesia |
Miscellaneous Capital Goods |
263.0 |
100 |
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
12.8 |
70 |
|
|
Subsidiary |
White Plains, NY |
United States |
Business Services |
625.0 |
38 |
|
|
Branch |
Chesapeake, VA |
United States |
Chemical Manufacturing |
600.6 |
600 |
|
|
Division |
Chesapeake, VA |
United States |
Chemical Manufacturing |
|
500 |
|
|
Division |
Chesapeake, VA |
United States |
Computer Peripherals |
|
300 |
|
|
Subsidiary |
Jeffersonville, IN |
United States |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Binasco, Milano |
Italy |
Chemicals - Plastics and Rubber |
4.0 |
37 |
|
|
Subsidiary |
Kaohsiung City |
Taiwan |
Textiles - Non Apparel |
|
33 |
|
|
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Chemicals - Plastics and Rubber |
170.1 |
30 |
|
|
Subsidiary |
Kaohsiung Hsien |
Taiwan |
Chemical Manufacturing |
1.0 |
30 |
|
|
Subsidiary |
Bangkok |
Thailand |
Chemicals - Plastics and Rubber |
|
20 |
|
|
Subsidiary |
Singapore |
Singapore |
Oil and Gas Operations |
246.0 |
18 |
|
|
Subsidiary |
Singapore |
Singapore |
Chemical Manufacturing |
8.1 |
15 |
|
|
Subsidiary |
Admiralty |
Hong Kong |
Chemical Manufacturing |
|
10 |
|
|
Subsidiary |
Singapore |
Singapore |
Fabricated Plastic and Rubber |
16.2 |
3 |
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Chemical Manufacturing |
51.3 |
1 |
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Trucking |
922.0 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Transportation |
|
9 |
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Trucking |
64.2 |
|
|
|
Subsidiary |
Amagasaki, Hyogo |
Japan |
Chemical Manufacturing |
725.9 |
|
|
|
Subsidiary |
Amagasaki, Hyogo |
Japan |
Business Services |
27.1 |
|
|
|
Subsidiary |
Yokkaichi, Mie |
Japan |
Chemicals - Plastics and Rubber |
446.7 |
|
|
|
Subsidiary |
Kolkata, West Bengal |
India |
Chemical Manufacturing |
362.9 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Biotechnology and Drugs |
311.0 |
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Chemical Manufacturing |
241.4 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Business Services |
223.7 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Computer Hardware |
114.2 |
|
|
|
Subsidiary |
Itabashi-Ku, Tokyo |
Japan |
Software and Programming |
21.3 |
|
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Chemical Manufacturing |
181.9 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Chemical Manufacturing |
178.3 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Waste Management Services |
2.3 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemicals - Plastics and Rubber |
162.4 |
|
|
|
Mitsubishi Chemical Group Science And Technology
Research Center |
Subsidiary |
Yokohama, Kanagawa |
Japan |
Engineering Consultants |
141.5 |
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Real Estate Operations |
140.7 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Computer Hardware |
87.0 |
|
|
|
Subsidiary |
Charlotte, NC |
United States |
Audio and Video Equipment |
350.0 |
125 |
|
|
Subsidiary |
Rijswijk Zh, Zuid-Holland |
Netherlands |
Miscellaneous Financial Services |
172.6 |
|
|
|
Subsidiary |
Berlin, Berlin |
Germany |
Miscellaneous Capital Goods |
68.3 |
50 |
|
|
Subsidiary |
Rijswijk Zh, Zuid-Holland |
Netherlands |
Computer Hardware |
|
22 |
|
|
Subsidiary |
Tsim Sha Tsui, Kowloon |
Hong Kong |
Computer Hardware |
124.2 |
4 |
|
|
Subsidiary |
Yokkaichi, Mie |
Japan |
Engineering Consultants |
72.0 |
|
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Fabricated Plastic and Rubber |
40.8 |
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Business Services |
33.4 |
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Computer Services |
23.6 |
|
|
|
Subsidiary |
Yokohama |
Japan |
Biotechnology and Drugs |
|
|
|
|
Division |
Osaka-Shi |
Japan |
Biotechnology and Drugs |
5,156.4 |
9,180 |
|
|
Subsidiary |
Osaka |
Japan |
Biotechnology and Drugs |
5,156.4 |
9,198 |
|
|
Subsidiary |
Hwasong, Kyonggi-Do |
Korea, Republic of |
Biotechnology and Drugs |
|
95 |
|
|
Subsidiary |
Hida, Gifu |
Japan |
Biotechnology and Drugs |
44.8 |
60 |
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Personal and Household Products |
115.7 |
|
|
|
Subsidiary |
Tokushima, Tokushima |
Japan |
Biotechnology and Drugs |
106.5 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Biotechnology and Drugs |
29.0 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Engineering Consultants |
1,715.3 |
1,626 |
|
|
Subsidiary |
Hsinchu City |
Taiwan |
Miscellaneous Capital Goods |
|
30 |
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Business Services |
287.3 |
|
|
|
Subsidiary |
Yokkaichi, Mie |
Japan |
Construction Services |
100.2 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Biotechnology and Drugs |
205.1 |
454 |
|
|
Subsidiary |
Joetsu, Niigata |
Japan |
Construction Services |
1.0 |
76 |
|
|
Subsidiary |
San Diego, CA |
United States |
Biotechnology and Drugs |
38.1 |
40 |
|
|
Subsidiary |
Tokyo |
Japan |
Public Sector and Government |
1.0 |
12 |
|
|
Subsidiary |
Osaka |
Japan |
Biotechnology and Drugs |
|
632 |
|
|
Subsidiary |
Guangzhou, Guangdong |
China |
Biotechnology and Drugs |
1.0 |
300 |
|
|
Subsidiary |
Osaka |
Japan |
Personal and Household Products |
511.0 |
230 |
|
|
Subsidiary |
Taipei |
Taiwan |
Personal and Household Products |
1.0 |
200 |
|
|
Branch |
Tokyo |
Japan |
Personal and Household Products |
|
200 |
|
|
Subsidiary |
Jakarta |
Indonesia |
Biotechnology and Drugs |
|
145 |
|
|
Subsidiary |
London |
United Kingdom |
Biotechnology and Drugs |
37.8 |
98 |
|
|
Subsidiary |
Düsseldorf |
Germany |
Biotechnology and Drugs |
1.0 |
|
|
|
Subsidiary |
Taipei |
Taiwan |
Biotechnology and Drugs |
1.0 |
90 |
|
|
Subsidiary |
Petaling Jaya, Selangor Darul Ehsan |
Malaysia |
Personal and Household Products |
28.0 |
80 |
|
|
Subsidiary |
Hokkaido |
Japan |
Biotechnology and Drugs |
1.0 |
80 |
|
|
Subsidiary |
Osaka |
Japan |
Miscellaneous Transportation |
1.0 |
75 |
|
|
Affiliates |
Osaka |
Japan |
Chemical Manufacturing |
16.4 |
40 |
|
|
Subsidiary |
London |
United Kingdom |
Biotechnology and Drugs |
|
20 |
|
|
Joint Venture |
Bandung, West Java |
Indonesia |
Miscellaneous Capital Goods |
|
200 |
|
|
Subsidiary |
San Diego, CA |
United States |
Biotechnology and Drugs |
|
17 |
|
|
Subsidiary |
Zaventem |
Belgium |
Chemical Manufacturing |
24.8 |
4 |
|
|
Subsidiary |
San Diego, CA |
United States |
Biotechnology and Drugs |
|
|
|
|
Branch |
Freehold, NJ |
United States |
Personal and Household Products |
|
1 |
|
|
Affiliates |
Fukuoka |
Japan |
Biotechnology and Drugs |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Biotechnology and Drugs |
|
|
|
|
Facility |
Fukuoka |
Japan |
Construction Services |
|
40 |
|
|
Subsidiary |
Hwasung |
Korea, Republic of |
Biotechnology and Drugs |
17.9 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Containers and Packaging |
1,676.0 |
8,470 |
|
|
Joint Venture |
Zürich |
Switzerland |
Miscellaneous Financial Services |
677.2 |
2,407 |
|
|
Subsidiary |
Reading, PA |
United States |
Chemicals - Plastics and Rubber |
|
350 |
|
|
Holding |
Tielt |
Belgium |
Fabricated Plastic and Rubber |
34.2 |
150 |
|
|
Branch |
Scranton, PA |
United States |
Fabricated Plastic and Rubber |
29.5 |
130 |
|
|
Holding |
Balan |
France |
Fabricated Plastic and Rubber |
23.1 |
115 |
|
|
Branch |
Wytheville, VA |
United States |
Construction - Supplies and Fixtures |
15.7 |
100 |
|
|
Holding |
Balan |
France |
Construction - Supplies and Fixtures |
|
95 |
|
|
Subsidiary |
Almelo |
Netherlands |
Fabricated Plastic and Rubber |
18.2 |
80 |
|
|
Holding |
Oaxaca |
Mexico |
Fabricated Plastic and Rubber |
|
60 |
|
|
Holding |
Welwyn Garden City |
United Kingdom |
Fabricated Plastic and Rubber |
|
54 |
|
|
Subsidiary |
Guelph, ON |
Canada |
Chemicals - Plastics and Rubber |
5.1 |
25 |
|
|
Subsidiary |
Milan |
Italy |
Fabricated Plastic and Rubber |
|
25 |
|
|
Subsidiary |
Bergisch Gladbach, Nordrhein-Westfalen |
Germany |
Fabricated Plastic and Rubber |
|
19 |
|
|
Branch |
Delmont, PA |
United States |
Fabricated Plastic and Rubber |
4.4 |
15 |
|
|
Holding |
Yuen Long |
Hong Kong |
Fabricated Plastic and Rubber |
10.0 |
11 |
|
|
Holding |
Central |
Hong Kong |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Birmingham |
United Kingdom |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Vreden, Nordrhein-Westfalen |
Germany |
Chemicals - Plastics and Rubber |
50.4 |
270 |
|
|
Subsidiary |
Lenzburg |
Switzerland |
Chemicals - Plastics and Rubber |
|
256 |
|
|
Subsidiary |
Lenzburg, Aargovia |
Switzerland |
Fabricated Plastic and Rubber |
|
175 |
|
|
Joint Venture |
Tokyo |
Japan |
Fabricated Plastic and Rubber |
|
160 |
|
|
Subsidiary |
Fort Wayne, IN |
United States |
Chemical Manufacturing |
45.4 |
107 |
|
|
Subsidiary |
Gauteng |
South Africa |
Miscellaneous Capital Goods |
|
150 |
|
|
Subsidiary |
Sinsheim |
Germany |
Fabricated Plastic and Rubber |
1.0 |
100 |
|
|
Subsidiary |
Lenzburg |
Switzerland |
Construction - Supplies and Fixtures |
|
100 |
|
|
Subsidiary |
Osnabrück, Niedersachsen |
Germany |
Fabricated Plastic and Rubber |
|
50 |
|
|
Subsidiary |
Meyzieu cedex |
France |
Business Services |
|
50 |
|
|
Subsidiary |
Tokyo |
Japan |
Auto and Truck Parts |
218.1 |
932 |
|
|
Subsidiary |
Tainan Hsien |
Taiwan |
Miscellaneous Capital Goods |
1.0 |
60 |
|
|
Subsidiary |
Greer, SC |
United States |
Fabricated Plastic and Rubber |
969.3 |
500 |
|
|
Subsidiary |
Wiesbaden |
Germany |
Fabricated Plastic and Rubber |
242.4 |
500 |
|
|
Subsidiary |
Nagahama, Shiga |
Japan |
Business Services |
49.9 |
330 |
|
|
Subsidiary |
Koza-Gun |
Japan |
Fabricated Plastic and Rubber |
124.5 |
217 |
|
|
Subsidiary |
Tokyo |
Japan |
Fabricated Plastic and Rubber |
|
150 |
|
|
Subsidiary |
Jakarta Selatan |
Indonesia |
Miscellaneous Capital Goods |
|
100 |
|
|
Subsidiary |
Kofu, Yamanashi |
Japan |
Fabricated Plastic and Rubber |
|
100 |
|
|
Subsidiary |
Kowloon |
Hong Kong |
Construction - Supplies and Fixtures |
1.0 |
50 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Fabricated Products |
|
50 |
|
|
Subsidiary |
Kaohsiung City |
Taiwan |
Fabricated Plastic and Rubber |
|
43 |
|
|
Subsidiary |
Nagahama, Shiga |
Japan |
Miscellaneous Capital Goods |
|
40 |
|
|
Subsidiary |
Yokkaichi, Mie |
Japan |
Fabricated Plastic and Rubber |
|
20 |
|
|
Subsidiary |
Lincoln Park, NJ |
United States |
Fabricated Plastic and Rubber |
3.2 |
3 |
|
|
Subsidiary |
Chaineux |
Belgium |
Fabricated Plastic and Rubber |
0.0 |
2 |
|
|
Subsidiary |
Tokyo |
Japan |
Fabricated Plastic and Rubber |
190.0 |
|
|
|
Subsidiary |
Joetsu, Niigata |
Japan |
Chemical Manufacturing |
60.7 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Personal and Household Products |
|
|
|
|
Subsidiary |
Kaohsiung |
Taiwan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Gifu |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Joetsu, Niigata |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Nagoya, Aichi |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Nagahama, Shiga |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Maibara, Shiga |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Nagahama, Shiga |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Nitra |
Slovakia |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Jakarta |
Indonesia |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Rental and Leasing |
|
|
|
|
Subsidiary |
Ueda, Nagano |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Nagahama, Shiga |
Japan |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Nagahama, Shiga |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Hanyu, Saitama |
Japan |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Nagahama, Shiga |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Ichihara, Chiba |
Japan |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemicals - Plastics and Rubber |
5,582.8 |
8,203 |
|
|
Joint Venture |
Tokyo |
Japan |
Chemicals - Plastics and Rubber |
519.9 |
590 |
|
|
Subsidiary |
Southampton |
United Kingdom |
Chemical Manufacturing |
|
573 |
|
|
Subsidiary |
Southampton |
United Kingdom |
Commercial Banks |
|
2,070 |
|
|
Subsidiary |
Southampton |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Billingham |
United Kingdom |
Chemicals - Plastics and Rubber |
516.5 |
583 |
|
|
Subsidiary |
Tamworth |
United Kingdom |
Retail (Department and Discount) |
49.3 |
60 |
|
|
Subsidiary |
Newton Aycliffe |
United Kingdom |
Chemicals - Plastics and Rubber |
15.8 |
52 |
|
|
Subsidiary |
Southampton |
United Kingdom |
Business Services |
3.2 |
11 |
|
|
Subsidiary |
Southampton |
United Kingdom |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Southampton |
United Kingdom |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Southampton |
United Kingdom |
Business Services |
|
|
|
|
Subsidiary |
Southampton |
United Kingdom |
Business Services |
|
|
|
|
Subsidiary |
Southampton |
United Kingdom |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Billingham |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Cordova, TN |
United States |
Chemicals - Plastics and Rubber |
18.4 |
300 |
|
|
Subsidiary |
Darwen |
United Kingdom |
Chemicals - Plastics and Rubber |
|
300 |
|
|
Subsidiary |
Kaohsiung |
Taiwan |
Chemical Manufacturing |
|
130 |
|
|
Subsidiary |
Rotterdam |
Netherlands |
Chemical Manufacturing |
125.0 |
100 |
|
|
Subsidiary |
Rotterdam |
Netherlands |
Chemical Manufacturing |
|
100 |
|
|
Subsidiary |
Chelmsford |
United Kingdom |
Chemical Manufacturing |
|
52 |
|
|
Subsidiary |
Besancon |
France |
Chemicals - Plastics and Rubber |
16.7 |
34 |
|
|
Subsidiary |
Mississauga, ON |
Canada |
Chemicals - Plastics and Rubber |
3.3 |
5 |
|
|
Subsidiary |
Singapore |
Singapore |
Chemical Manufacturing |
254.1 |
|
|
|
UK Branch/Trading address |
Newton Aycliffe |
United Kingdom |
Chemical Manufacturing |
|
|
|
|
UK Branch/Trading address |
Darwen |
United Kingdom |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Shanghai, Xu Hui |
China |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Causeway Bay |
Hong Kong |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Shanghai, Xu Hui |
China |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Shanghai |
China |
Textiles - Non Apparel |
|
400 |
|
|
Branch |
Osaka |
Japan |
Chemicals - Plastics and Rubber |
1.0 |
300 |
|
|
Subsidiary |
Bangkok |
Thailand |
Chemicals - Plastics and Rubber |
1.0 |
100 |
|
|
Subsidiary |
Jakarta |
Indonesia |
Chemical Manufacturing |
|
20 |
|
|
Subsidiary |
Bangkok |
Thailand |
Miscellaneous Financial Services |
|
20 |
|
|
Subsidiary |
New York, NY |
United States |
Chemical Manufacturing |
14.2 |
15 |
|
|
Subsidiary |
Kowloon |
Hong Kong |
Business Services |
|
14 |
|
|
Subsidiary |
Bangkok, Khet Bangrak |
Thailand |
Business Services |
1.0 |
13 |
|
|
Subsidiary |
Kowloon |
Hong Kong |
Chemicals - Plastics and Rubber |
|
10 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Engineering Consultants |
1.0 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
453.0 |
352 |
|
|
Subsidiary |
Otake, Hiroshima |
Japan |
Fabricated Plastic and Rubber |
14.0 |
240 |
|
|
Subsidiary |
Toyama, Toyama |
Japan |
Business Services |
15.4 |
146 |
|
|
Subsidiary |
Bang Rak, Bangkok |
Thailand |
Chemicals - Plastics and Rubber |
|
45 |
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Fabricated Plastic and Rubber |
196.8 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Miscellaneous Capital Goods |
93.5 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Chemicals - Plastics and Rubber |
54.7 |
|
|
|
Subsidiary |
Toyohashi, Aichi |
Japan |
Miscellaneous Capital Goods |
47.9 |
|
|
|
Subsidiary |
Minami Alps, Yamanashi |
Japan |
Fabricated Plastic and Rubber |
46.9 |
|
|
|
Subsidiary |
Nukata-Gun, Aichi |
Japan |
Fabricated Plastic and Rubber |
45.1 |
|
|
|
Subsidiary |
Hachinohe, Aomori |
Japan |
Chemical Manufacturing |
41.7 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Real Estate Operations |
41.5 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Chemicals - Plastics and Rubber |
34.1 |
|
|
|
Subsidiary |
Oyabe, Toyama |
Japan |
Textiles - Non Apparel |
31.2 |
|
|
|
Holding |
Sacramento, CA |
United States |
Electronic Instruments and Controls |
40.0 |
100 |
|
|
Subsidiary |
Coventry |
United Kingdom |
Electronic Instruments and Controls |
|
7 |
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Miscellaneous Capital Goods |
194.5 |
50 |
|
|
Subsidiary |
Cassina De' Pecchi, Milano |
Italy |
Electronic Instruments and Controls |
58.3 |
16 |
|
|
Subsidiary |
Rueil Malmaison |
France |
Miscellaneous Capital Goods |
49.3 |
14 |
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Scientific and Technical Instruments |
779.4 |
|
|
|
Subsidiary |
Itabashi-Ku, Tokyo |
Japan |
Computer Services |
33.2 |
199 |
|
Executives Report
|
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Significant Developments
|
|
|
Annual Income Statement
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
5,156.4 |
4,779.2 |
4,354.9 |
4,127.5 |
2,761.4 |
|
Revenue |
5,156.4 |
4,779.2 |
4,354.9 |
4,127.5 |
2,761.4 |
|
Total Revenue |
5,156.4 |
4,779.2 |
4,354.9 |
4,127.5 |
2,761.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,928.5 |
1,803.8 |
1,590.0 |
1,575.9 |
994.5 |
|
Cost of Revenue, Total |
1,928.5 |
1,803.8 |
1,590.0 |
1,575.9 |
994.5 |
|
Gross Profit |
3,227.9 |
2,975.4 |
2,764.9 |
2,551.6 |
1,767.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
561.6 |
507.6 |
439.6 |
426.0 |
291.0 |
|
Labor & Related Expense |
556.3 |
501.3 |
478.7 |
414.4 |
307.3 |
|
Advertising Expense |
196.6 |
166.2 |
162.5 |
152.1 |
111.7 |
|
Total Selling/General/Administrative Expenses |
1,314.5 |
1,175.0 |
1,080.8 |
992.5 |
710.1 |
|
Research & Development |
889.6 |
767.7 |
893.9 |
727.7 |
523.2 |
|
Depreciation |
21.0 |
20.7 |
19.4 |
19.6 |
18.8 |
|
Amortization of Acquisition Costs |
128.3 |
118.4 |
109.1 |
100.1 |
44.7 |
|
Depreciation/Amortization |
149.3 |
139.1 |
128.5 |
119.6 |
63.5 |
|
Restructuring Charge |
0.0 |
1.7 |
17.0 |
3.4 |
0.0 |
|
Litigation |
- |
0.0 |
32.3 |
87.6 |
79.7 |
|
Impairment-Assets Held for Use |
47.3 |
14.1 |
24.7 |
43.1 |
4.8 |
|
Impairment-Assets Held for Sale |
27.8 |
93.4 |
2.5 |
66.0 |
0.3 |
|
Other Unusual Expense (Income) |
1.9 |
43.4 |
44.2 |
57.3 |
55.7 |
|
Unusual Expense (Income) |
77.0 |
152.7 |
120.7 |
257.5 |
140.5 |
|
Other Operating Expense |
0.1 |
- |
- |
- |
- |
|
Other, Net |
0.1 |
-0.1 |
0.2 |
-0.5 |
-0.7 |
|
Other Operating Expenses, Total |
0.1 |
-0.1 |
0.2 |
-0.5 |
-0.7 |
|
Total Operating Expense |
4,359.1 |
4,038.2 |
3,814.1 |
3,672.7 |
2,431.0 |
|
|
|
|
|
|
|
|
Operating Income |
797.3 |
741.1 |
540.7 |
454.8 |
330.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.2 |
-0.2 |
-0.3 |
-0.9 |
-1.0 |
|
Interest Expense, Net Non-Operating |
-0.2 |
-0.2 |
-0.3 |
-0.9 |
-1.0 |
|
Interest Income -
Non-Operating |
19.9 |
18.0 |
19.1 |
21.7 |
12.4 |
|
Investment Income -
Non-Operating |
-7.1 |
-2.6 |
-1.5 |
6.1 |
3.0 |
|
Interest/Investment Income - Non-Operating |
12.8 |
15.4 |
17.6 |
27.8 |
15.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
12.5 |
15.3 |
17.4 |
26.9 |
14.5 |
|
Gain (Loss) on Sale of Assets |
9.0 |
-0.6 |
0.0 |
1.5 |
0.1 |
|
Other Non-Operating Income (Expense) |
-11.0 |
-7.7 |
-9.6 |
-5.7 |
-3.8 |
|
Other, Net |
-11.0 |
-7.7 |
-9.6 |
-5.7 |
-3.8 |
|
Income Before Tax |
807.8 |
748.0 |
548.5 |
477.5 |
341.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
310.6 |
309.3 |
237.2 |
209.5 |
149.6 |
|
Income After Tax |
497.2 |
438.8 |
311.3 |
268.0 |
191.7 |
|
|
|
|
|
|
|
|
Minority Interest |
-3.1 |
1.7 |
14.2 |
-4.0 |
0.7 |
|
Net Income Before Extraord Items |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
Net Income |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
- |
- |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
- |
- |
- |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
561.1 |
561.1 |
561.2 |
561.2 |
438.8 |
|
Basic EPS Excl Extraord Items |
0.88 |
0.79 |
0.58 |
0.47 |
0.44 |
|
Basic/Primary EPS Incl Extraord Items |
0.88 |
0.79 |
0.58 |
0.47 |
0.44 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
Diluted Weighted Average Shares |
561.1 |
561.1 |
561.2 |
561.2 |
438.8 |
|
Diluted EPS Excl Extraord Items |
0.88 |
0.79 |
0.58 |
0.47 |
0.44 |
|
Diluted EPS Incl Extraord Items |
0.88 |
0.79 |
0.58 |
0.47 |
0.44 |
|
Dividends per Share - Common Stock Primary Issue |
0.44 |
0.33 |
0.30 |
0.28 |
0.18 |
|
Gross Dividends - Common Stock |
248.7 |
183.3 |
169.1 |
156.4 |
94.6 |
|
Interest Expense, Supplemental |
0.2 |
0.2 |
0.3 |
0.9 |
1.0 |
|
Depreciation, Supplemental |
157.9 |
145.1 |
143.0 |
155.8 |
109.8 |
|
Total Special Items |
196.4 |
271.7 |
229.8 |
356.0 |
185.1 |
|
Normalized Income Before Tax |
1,004.2 |
1,019.7 |
778.2 |
833.6 |
526.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
26.2 |
63.4 |
52.2 |
112.3 |
61.5 |
|
Inc Tax Ex Impact of Sp Items |
336.8 |
372.6 |
289.4 |
321.8 |
211.1 |
|
Normalized Income After Tax |
667.4 |
647.1 |
488.8 |
511.7 |
315.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
664.3 |
648.8 |
503.1 |
507.8 |
315.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.18 |
1.16 |
0.90 |
0.90 |
0.72 |
|
Diluted Normalized EPS |
1.18 |
1.16 |
0.90 |
0.90 |
0.72 |
|
Amort of Acquisition Costs, Supplemental |
128.3 |
118.4 |
109.1 |
100.1 |
44.7 |
|
Advertising Expense, Supplemental |
196.6 |
166.2 |
162.5 |
152.1 |
111.7 |
|
Research & Development Exp, Supplemental |
889.6 |
767.7 |
893.9 |
727.7 |
523.2 |
|
Reported Operating Profit |
874.4 |
893.7 |
661.4 |
713.5 |
472.6 |
|
Reported Ordinary Profit |
870.8 |
894.9 |
663.3 |
722.3 |
476.0 |
|
Normalized EBIT |
874.3 |
893.7 |
661.4 |
712.3 |
470.9 |
|
Normalized EBITDA |
1,160.6 |
1,157.2 |
913.5 |
968.2 |
625.4 |
|
Current Tax - Total |
253.7 |
- |
- |
- |
- |
|
Current Tax - Total |
253.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
57.0 |
- |
- |
- |
- |
|
Deferred Tax - Total |
57.0 |
- |
- |
- |
- |
|
Income Tax - Total |
310.6 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
44.9 |
41.6 |
38.5 |
37.5 |
23.6 |
|
Service Cost - Domestic |
31.6 |
26.1 |
25.7 |
28.9 |
18.7 |
|
Prior Service Cost - Domestic |
-2.7 |
-2.5 |
-2.3 |
-0.1 |
0.0 |
|
Expected Return on Assets - Domestic |
-43.8 |
-40.6 |
-28.6 |
-40.1 |
-26.2 |
|
Actuarial Gains and Losses - Domestic |
81.3 |
47.1 |
53.8 |
-7.6 |
-7.4 |
|
Other Pension, Net - Domestic |
0.1 |
0.1 |
0.1 |
0.0 |
- |
|
Domestic Pension Plan Expense |
111.4 |
71.9 |
87.2 |
18.6 |
8.7 |
|
Defined Contribution Expense - Domestic |
11.5 |
10.2 |
7.8 |
0.0 |
- |
|
Total Pension Expense |
123.0 |
82.0 |
95.0 |
18.6 |
8.7 |
|
Discount Rate - Domestic |
1.80% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
3.50% |
|
Total Plan Interest Cost |
44.9 |
41.6 |
38.5 |
37.5 |
23.6 |
|
Total Plan Service Cost |
31.6 |
26.1 |
25.7 |
28.9 |
18.7 |
|
Total Plan Expected Return |
-43.8 |
-40.6 |
-28.6 |
-40.1 |
-26.2 |
|
Total Plan Other Expense |
0.1 |
0.1 |
0.1 |
0.0 |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst & Young
LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
187.7 |
330.7 |
243.9 |
242.3 |
800.3 |
|
Short Term Investments |
562.5 |
1,023.0 |
639.2 |
685.2 |
558.9 |
|
Cash and Short Term Investments |
750.3 |
1,353.7 |
883.1 |
927.5 |
1,359.2 |
|
Accounts Receivable -
Trade, Gross |
1,544.0 |
1,548.9 |
1,350.9 |
1,297.3 |
1,258.7 |
|
Provision for Doubtful
Accounts |
-0.5 |
-0.5 |
-0.4 |
-0.5 |
-0.2 |
|
Trade Accounts Receivable - Net |
1,543.6 |
1,548.4 |
1,350.4 |
1,296.8 |
1,258.4 |
|
Other Receivables |
- |
2.4 |
4.6 |
510.4 |
310.7 |
|
Total Receivables, Net |
1,543.6 |
1,550.8 |
1,355.0 |
1,807.1 |
1,569.1 |
|
Inventories - Finished Goods |
780.0 |
689.8 |
564.8 |
600.6 |
- |
|
Inventories - Work In Progress |
10.9 |
17.1 |
13.9 |
27.2 |
- |
|
Inventories - Raw Materials |
255.3 |
230.6 |
204.3 |
158.8 |
- |
|
Total Inventory |
1,046.2 |
937.5 |
783.0 |
786.6 |
738.2 |
|
Deferred Income Tax - Current Asset |
113.4 |
151.4 |
121.9 |
131.4 |
127.2 |
|
Other Current Assets |
1,640.4 |
731.2 |
541.1 |
37.2 |
44.4 |
|
Other Current Assets, Total |
1,753.8 |
882.6 |
663.0 |
168.6 |
171.6 |
|
Total Current Assets |
5,093.8 |
4,724.7 |
3,684.2 |
3,689.8 |
3,838.1 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
1,261.5 |
1,369.6 |
1,254.5 |
1,334.4 |
1,401.6 |
|
Goodwill, Net |
1,281.2 |
1,395.8 |
1,345.9 |
1,371.8 |
1,462.3 |
|
Intangibles, Net |
46.2 |
43.0 |
41.2 |
42.1 |
35.2 |
|
LT Investment - Affiliate Companies |
89.0 |
88.2 |
81.9 |
- |
- |
|
LT Investments - Other |
1,348.9 |
1,475.0 |
1,443.4 |
1,184.3 |
941.8 |
|
Long Term Investments |
1,437.9 |
1,563.2 |
1,525.3 |
1,184.3 |
941.8 |
|
Note Receivable - Long Term |
- |
1.2 |
1.6 |
1.6 |
1.8 |
|
Pension Benefits - Overfunded |
511.0 |
488.0 |
393.1 |
359.2 |
341.5 |
|
Deferred Income Tax - Long Term Asset |
95.9 |
166.4 |
153.0 |
139.1 |
40.6 |
|
Other Long Term Assets |
224.9 |
126.3 |
129.2 |
86.3 |
47.4 |
|
Other Long Term Assets, Total |
831.8 |
780.7 |
675.3 |
584.5 |
429.5 |
|
Total Assets |
9,952.3 |
9,878.2 |
8,528.0 |
8,208.5 |
8,110.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
350.5 |
357.3 |
294.9 |
264.2 |
272.7 |
|
Accrued Expenses |
159.6 |
166.5 |
138.5 |
146.8 |
146.6 |
|
Notes Payable/Short Term Debt |
26.3 |
34.9 |
25.8 |
73.9 |
67.7 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
0.0 |
0.4 |
1.5 |
12.5 |
|
Income Taxes Payable |
81.6 |
183.5 |
118.6 |
148.0 |
153.4 |
|
Other Payables |
190.8 |
245.8 |
216.2 |
212.0 |
182.9 |
|
Other Current Liabilities |
35.6 |
70.3 |
37.8 |
56.2 |
62.9 |
|
Other Current liabilities, Total |
308.1 |
499.7 |
372.6 |
416.3 |
399.2 |
|
Total Current Liabilities |
844.6 |
1,058.4 |
832.3 |
902.6 |
898.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
0.0 |
0.3 |
1.7 |
|
Capital Lease Obligations |
- |
- |
0.3 |
- |
- |
|
Total Long Term Debt |
0.0 |
0.0 |
0.3 |
0.3 |
1.7 |
|
Total Debt |
26.3 |
34.9 |
26.5 |
75.7 |
81.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
113.3 |
138.2 |
120.6 |
118.2 |
128.6 |
|
Deferred Income Tax |
113.3 |
138.2 |
120.6 |
118.2 |
128.6 |
|
Minority Interest |
69.7 |
69.5 |
67.9 |
139.3 |
146.5 |
|
Reserves |
92.3 |
120.4 |
176.8 |
266.9 |
181.4 |
|
Pension Benefits - Underfunded |
128.5 |
143.1 |
140.9 |
161.6 |
170.5 |
|
Other Long Term Liabilities |
16.1 |
21.0 |
13.9 |
13.7 |
20.2 |
|
Other Liabilities, Total |
236.9 |
284.4 |
331.6 |
442.3 |
372.1 |
|
Total Liabilities |
1,264.5 |
1,550.5 |
1,352.6 |
1,602.7 |
1,547.5 |
|
|
|
|
|
|
|
|
Common Stock |
606.9 |
603.3 |
535.1 |
506.2 |
502.3 |
|
Common Stock |
606.9 |
603.3 |
535.1 |
506.2 |
502.3 |
|
Additional Paid-In Capital |
5,476.5 |
5,443.8 |
4,828.6 |
4,568.0 |
4,532.9 |
|
Retained Earnings (Accumulated Deficit) |
2,721.0 |
2,430.3 |
1,920.0 |
1,667.6 |
1,540.5 |
|
Treasury Stock - Common |
-5.9 |
-4.9 |
-3.0 |
-2.8 |
-2.1 |
|
Unrealized Gain (Loss) |
0.1 |
-44.9 |
-38.5 |
-64.3 |
6.7 |
|
Translation Adjustment |
-110.9 |
-99.9 |
-66.9 |
-68.9 |
-17.6 |
|
Other Equity, Total |
-110.9 |
-99.9 |
-66.9 |
-68.9 |
-17.6 |
|
Total Equity |
8,687.8 |
8,327.7 |
7,175.4 |
6,605.9 |
6,562.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
9,952.3 |
9,878.2 |
8,528.0 |
8,208.5 |
8,110.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
561.0 |
561.1 |
561.2 |
561.2 |
561.2 |
|
Total Common Shares Outstanding |
561.0 |
561.1 |
561.2 |
561.2 |
561.2 |
|
Treasury Shares - Common Stock Primary Issue |
0.4 |
0.4 |
0.3 |
0.3 |
0.2 |
|
Employees |
9,180 |
9,198 |
9,266 |
10,030 |
10,361 |
|
Number of Common Shareholders |
14,628 |
12,235 |
10,448 |
11,665 |
11,396 |
|
Total Long Term Debt, Supplemental |
- |
- |
0.3 |
1.7 |
14.2 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
0.3 |
1.4 |
12.5 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
0.3 |
1.4 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
0.0 |
0.3 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
0.0 |
- |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
0.0 |
- |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
0.3 |
1.7 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
0.0 |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
0.0 |
0.0 |
0.0 |
|
Total Capital Leases, Supplemental |
- |
- |
0.4 |
0.2 |
- |
|
Capital Lease Payments Due in Year 1 |
- |
- |
0.1 |
0.1 |
- |
|
Capital Lease Payments Due in Year 2 |
- |
- |
0.1 |
0.1 |
- |
|
Capital Lease Payments Due in Year 3 |
- |
- |
0.1 |
0.1 |
- |
|
Capital Lease Payments Due in Year 4 |
- |
- |
0.1 |
0.1 |
- |
|
Capital Lease Payments Due in Year 5 |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in 2-3 Years |
- |
- |
0.2 |
0.1 |
- |
|
Capital Lease Payments Due in 4-5 Years |
- |
- |
0.1 |
0.1 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
- |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
1,824.6 |
1,715.5 |
1,530.3 |
1,470.2 |
1,526.9 |
|
Plan Assets - Domestic |
1,746.6 |
1,672.4 |
1,490.0 |
1,242.5 |
1,561.7 |
|
Funded Status - Domestic |
-78.0 |
-43.0 |
-40.3 |
-227.7 |
34.9 |
|
Total Funded Status |
-78.0 |
-43.0 |
-40.3 |
-227.7 |
34.9 |
|
Discount Rate - Domestic |
1.80% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
3.50% |
|
Prepaid Benefits - Domestic |
511.0 |
488.0 |
393.1 |
359.2 |
341.5 |
|
Accrued Liabilities - Domestic |
-128.5 |
-143.0 |
-140.8 |
-161.4 |
-170.1 |
|
Other Assets, Net - Domestic |
460.5 |
388.1 |
292.5 |
425.4 |
136.5 |
|
Net Assets Recognized on Balance Sheet |
843.1 |
733.1 |
544.8 |
623.2 |
307.9 |
|
Total Plan Obligations |
1,824.6 |
1,715.5 |
1,530.3 |
1,470.2 |
1,526.9 |
|
Total Plan Assets |
1,746.6 |
1,672.4 |
1,490.0 |
1,242.5 |
1,561.7 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
807.8 |
748.0 |
548.5 |
477.5 |
341.3 |
|
Depreciation |
157.9 |
145.1 |
143.0 |
155.8 |
109.8 |
|
Depreciation/Depletion |
157.9 |
145.1 |
143.0 |
155.8 |
109.8 |
|
Amortization of Acquisition Costs |
128.3 |
118.4 |
109.1 |
100.1 |
44.7 |
|
Amortization |
128.3 |
118.4 |
109.1 |
100.1 |
44.7 |
|
Unusual Items |
63.3 |
104.8 |
24.7 |
156.8 |
60.0 |
|
Equity in Net Earnings (Loss) |
-2.1 |
-3.0 |
-5.3 |
-1.0 |
1.0 |
|
Other Non-Cash Items |
-91.5 |
-95.0 |
-139.1 |
50.0 |
491.4 |
|
Non-Cash Items |
-30.3 |
6.8 |
-119.6 |
205.9 |
552.5 |
|
Accounts Receivable |
12.4 |
-29.9 |
-33.4 |
-39.6 |
104.5 |
|
Inventories |
-108.9 |
-55.7 |
-53.4 |
-49.5 |
-52.2 |
|
Prepaid Expenses |
-20.9 |
-43.4 |
-13.5 |
-14.8 |
-62.7 |
|
Accounts Payable |
-7.1 |
29.0 |
13.1 |
0.0 |
-67.5 |
|
Accrued Expenses |
-27.1 |
-24.8 |
4.6 |
2.3 |
-22.2 |
|
Other Operating Cash Flow |
-440.4 |
-204.3 |
-340.8 |
-334.7 |
-190.6 |
|
Changes in Working Capital |
-592.1 |
-329.0 |
-423.5 |
-436.3 |
-290.6 |
|
Cash from Operating Activities |
471.7 |
689.3 |
257.4 |
503.0 |
757.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-120.3 |
-92.8 |
-88.7 |
-106.9 |
-75.1 |
|
Purchase/Acquisition of Intangibles |
-15.8 |
-8.8 |
-11.5 |
-17.1 |
-15.9 |
|
Capital Expenditures |
-136.2 |
-101.6 |
-100.3 |
-124.0 |
-91.0 |
|
Sale of Business |
- |
0.0 |
5.5 |
0.0 |
- |
|
Sale of Fixed Assets |
27.5 |
10.4 |
0.8 |
0.3 |
2.0 |
|
Sale/Maturity of Investment |
1,200.2 |
1,446.1 |
617.5 |
589.9 |
195.7 |
|
Purchase of Investments |
-489.5 |
-1,445.0 |
-1,236.4 |
-1,210.7 |
-151.0 |
|
Other Investing Cash Flow |
-1,402.8 |
0.8 |
54.0 |
3.1 |
2.1 |
|
Other Investing Cash Flow Items, Total |
-664.6 |
12.3 |
-558.5 |
-617.5 |
48.8 |
|
Cash from Investing Activities |
-800.7 |
-89.3 |
-658.8 |
-741.5 |
-42.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-2.2 |
-1.9 |
-0.8 |
-1.0 |
35.8 |
|
Financing Cash Flow Items |
-2.2 |
-1.9 |
-0.8 |
-1.0 |
35.8 |
|
Cash Dividends Paid - Common |
-206.1 |
-183.3 |
-169.1 |
-150.8 |
-84.9 |
|
Total Cash Dividends Paid |
-206.1 |
-183.3 |
-169.1 |
-150.8 |
-84.9 |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
0.1 |
0.2 |
|
Repurchase/Retirement
of Common |
- |
- |
0.0 |
-0.8 |
-0.3 |
|
Common Stock, Net |
- |
- |
0.0 |
-0.6 |
-0.1 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
0.0 |
-0.6 |
-0.1 |
|
Short Term Debt, Net |
-9.1 |
5.6 |
-4.3 |
5.8 |
7.8 |
|
Long Term Debt
Reduction |
- |
-0.3 |
-9.9 |
-12.4 |
-11.6 |
|
Long Term Debt, Net |
- |
-0.3 |
-9.9 |
-12.4 |
-11.6 |
|
Issuance (Retirement) of Debt, Net |
-9.1 |
5.3 |
-14.2 |
-6.6 |
-3.8 |
|
Cash from Financing Activities |
-217.3 |
-179.9 |
-184.0 |
-159.1 |
-53.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-5.0 |
-13.3 |
2.9 |
-32.2 |
-6.8 |
|
Net Change in Cash |
-551.4 |
406.8 |
-582.5 |
-429.8 |
655.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,239.6 |
735.5 |
1,259.9 |
1,593.2 |
745.2 |
|
Net Cash - Ending Balance |
688.2 |
1,142.2 |
677.4 |
1,163.4 |
1,400.6 |
|
Cash Interest Paid |
0.1 |
0.2 |
0.3 |
0.9 |
1.0 |
|
Cash Taxes Paid |
359.3 |
259.3 |
313.8 |
276.7 |
137.4 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Total net sales |
5,156.4 |
4,779.2 |
4,354.9 |
4,127.5 |
2,761.4 |
|
Total Revenue |
5,156.4 |
4,779.2 |
4,354.9 |
4,127.5 |
2,761.4 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.1 |
- |
- |
- |
- |
|
Total cost of sales |
1,928.5 |
1,803.8 |
1,590.0 |
1,574.7 |
992.7 |
|
Provision for sales returns |
0.1 |
- |
- |
- |
- |
|
Res.Return.Product. |
- |
0.0 |
0.2 |
0.0 |
- |
|
Rev.Res.Return |
0.0 |
-0.1 |
0.0 |
-0.5 |
-0.7 |
|
Advertisment Exp. |
48.5 |
34.3 |
33.9 |
35.9 |
26.1 |
|
Selling Exp. |
148.1 |
131.9 |
128.6 |
116.2 |
85.6 |
|
Wages |
413.1 |
387.1 |
360.3 |
345.6 |
243.1 |
|
Allow.for Bonus |
75.8 |
71.4 |
64.7 |
63.9 |
61.2 |
|
Director Allowance for Bonuses |
- |
- |
0.0 |
0.0 |
0.1 |
|
Retire.Bene. Cost |
67.4 |
42.7 |
53.7 |
4.8 |
2.7 |
|
Provision for directors'' retirement ben |
0.0 |
0.0 |
0.0 |
0.1 |
0.2 |
|
Depreciation |
21.0 |
20.7 |
19.4 |
19.6 |
18.8 |
|
Research & Develop. |
889.6 |
767.7 |
893.9 |
727.7 |
523.2 |
|
Amort. of Goodwill(SGA) |
128.3 |
118.4 |
109.1 |
100.1 |
44.7 |
|
SMON litigation aftercare |
4.2 |
2.4 |
1.9 |
1.8 |
7.6 |
|
Other SGA |
557.4 |
505.2 |
437.7 |
424.2 |
283.4 |
|
NOP L.Retie.Fix Asset |
5.1 |
4.7 |
4.9 |
9.8 |
4.8 |
|
NOP L.Retire.Inventory |
- |
- |
0.0 |
1.2 |
1.7 |
|
Reversal of loss on disaster |
-5.8 |
- |
- |
- |
- |
|
Reversal of past year patent royalties |
0.0 |
-2.1 |
0.0 |
- |
- |
|
SP Compensation received |
- |
- |
0.0 |
-4.9 |
-5.8 |
|
SP Subsidy for business promotion |
- |
- |
0.0 |
-4.0 |
-9.0 |
|
SP Rev.Allow.Doubt. |
- |
- |
- |
0.0 |
-0.1 |
|
SP Reversal G on disaster |
- |
0.0 |
- |
- |
- |
|
SP Other SP Gain |
- |
- |
0.0 |
-0.1 |
-0.4 |
|
SP L.Val.Inv.Secs. |
27.8 |
93.4 |
2.5 |
66.0 |
0.3 |
|
SP Disaster Loss |
1.4 |
25.0 |
0.0 |
- |
- |
|
SP Impairment Loss |
42.2 |
9.4 |
19.8 |
33.3 |
0.0 |
|
SP L. on Business discontinued |
0.0 |
8.6 |
35.5 |
0.0 |
- |
|
SP Special Retire.Bene. |
1.4 |
5.6 |
0.0 |
- |
- |
|
SP Resv. for HCV litigation loss |
- |
0.0 |
32.3 |
87.6 |
79.7 |
|
SP Retire.Bene. |
- |
- |
0.0 |
43.2 |
9.8 |
|
SP HIV litigation loss |
- |
- |
0.0 |
12.5 |
0.0 |
|
SP Products collected expense |
- |
- |
0.0 |
6.5 |
0.0 |
|
SP Restruct.Exp. |
0.0 |
1.7 |
17.0 |
3.4 |
0.0 |
|
SP Factory closure loss |
- |
- |
0.0 |
1.6 |
14.3 |
|
SP Merger Expenses |
- |
- |
- |
0.0 |
42.9 |
|
SP Resv. HIV litiga. healthcare allow. |
- |
- |
- |
0.0 |
3.7 |
|
SP Other SP Loss |
4.9 |
6.3 |
8.7 |
2.4 |
0.3 |
|
Total Operating Expense |
4,359.1 |
4,038.2 |
3,814.1 |
3,672.7 |
2,431.0 |
|
|
|
|
|
|
|
|
NOP Interest Income |
19.9 |
18.0 |
19.1 |
21.7 |
12.4 |
|
NOP Dividend Income |
9.9 |
9.3 |
8.0 |
8.1 |
3.7 |
|
NOP Exchange Gain |
- |
- |
- |
- |
0.0 |
|
NOP Equity Income |
2.1 |
3.0 |
5.3 |
1.0 |
0.0 |
|
Rounding adjustment Income Statement |
0.1 |
- |
- |
- |
- |
|
NOP Rent Income |
3.0 |
2.9 |
2.5 |
1.7 |
1.8 |
|
NOP Other Income |
9.3 |
7.2 |
5.2 |
5.7 |
7.0 |
|
NOP Interest Expense |
-0.2 |
-0.2 |
-0.3 |
-0.9 |
-1.0 |
|
NOP Exchange Loss |
-19.1 |
-16.6 |
-15.6 |
-4.4 |
-0.5 |
|
NOP Donation |
-4.9 |
-4.2 |
-3.9 |
-4.0 |
-4.2 |
|
NOP Equity loss |
- |
- |
- |
0.0 |
-1.0 |
|
NOP Other Non-Ops.Exp. |
-18.4 |
-13.6 |
-13.5 |
-9.1 |
-8.3 |
|
SP G.Sale Fix Asset |
9.0 |
3.6 |
0.0 |
0.2 |
1.0 |
|
SP G.Sale Inv.Secs. |
0.0 |
1.7 |
0.9 |
1.5 |
0.9 |
|
SP Business transfer gain |
- |
- |
0.0 |
1.3 |
0.0 |
|
SP L.Dispo.Fix Asset |
- |
- |
- |
0.0 |
-0.9 |
|
SP Loss on sales of fixed assets |
0.0 |
-4.1 |
0.0 |
- |
- |
|
SP L.Sale Inv.Secs. |
- |
- |
0.0 |
-0.1 |
0.0 |
|
Net Income Before Taxes |
807.8 |
748.0 |
548.5 |
477.5 |
341.3 |
|
|
|
|
|
|
|
|
Total income taxes |
310.6 |
309.3 |
237.2 |
209.5 |
149.6 |
|
Net Income After Taxes |
497.2 |
438.8 |
311.3 |
268.0 |
191.7 |
|
|
|
|
|
|
|
|
Minority interests in income (loss) |
-3.1 |
1.7 |
14.2 |
-4.0 |
0.7 |
|
Net Income Before Extra. Items |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
Net Income |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
|
|
|
|
|
|
|
Bonus to Director |
- |
- |
- |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
561.1 |
561.1 |
561.2 |
561.2 |
438.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.88 |
0.79 |
0.58 |
0.47 |
0.44 |
|
Basic EPS Including ExtraOrdinary Item |
0.88 |
0.79 |
0.58 |
0.47 |
0.44 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
494.1 |
440.5 |
325.5 |
264.0 |
192.4 |
|
Diluted Weighted Average Shares |
561.1 |
561.1 |
561.2 |
561.2 |
438.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.88 |
0.79 |
0.58 |
0.47 |
0.44 |
|
Diluted EPS Including ExtraOrd Items |
0.88 |
0.79 |
0.58 |
0.47 |
0.44 |
|
DPS-Common Stock |
0.44 |
0.33 |
0.30 |
0.28 |
0.18 |
|
Gross Dividends - Common Stock |
248.7 |
183.3 |
169.1 |
156.4 |
94.6 |
|
Normalized Income Before Taxes |
1,004.2 |
1,019.7 |
778.2 |
833.6 |
526.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
336.8 |
372.6 |
289.4 |
321.8 |
211.1 |
|
Normalized Income After Taxes |
667.4 |
647.1 |
488.8 |
511.7 |
315.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
664.3 |
648.8 |
503.1 |
507.8 |
315.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.18 |
1.16 |
0.90 |
0.90 |
0.72 |
|
Diluted Normalized EPS |
1.18 |
1.16 |
0.90 |
0.90 |
0.72 |
|
Research & Development Exp |
889.6 |
767.7 |
893.9 |
727.7 |
523.2 |
|
Advertising Expense |
48.5 |
34.3 |
33.9 |
35.9 |
26.1 |
|
Selling Promotion Exp. |
148.1 |
131.9 |
128.6 |
116.2 |
85.6 |
|
Interest Expense |
0.2 |
0.2 |
0.3 |
0.9 |
1.0 |
|
Amortization of Goodwill - footnote |
128.3 |
- |
- |
- |
- |
|
Amort of Goodwill |
- |
118.4 |
109.1 |
100.1 |
44.7 |
|
Dep. of Tangible Assets-Current Portion |
157.9 |
- |
- |
- |
- |
|
Depreciation |
- |
145.1 |
143.0 |
155.8 |
109.8 |
|
Income taxes-current |
253.7 |
- |
- |
- |
- |
|
Current Tax - Total |
253.7 |
- |
- |
- |
- |
|
Income taxes-deferred |
57.0 |
- |
- |
- |
- |
|
Deferred Tax - Total |
57.0 |
- |
- |
- |
- |
|
Income Tax - Total |
310.6 |
- |
- |
- |
- |
|
Reported Operating Profit |
874.4 |
893.7 |
661.4 |
713.5 |
472.6 |
|
Reported Ordinary Profit |
870.8 |
894.9 |
663.3 |
722.3 |
476.0 |
|
Service Cost |
31.6 |
26.1 |
25.7 |
28.9 |
18.7 |
|
Interest Cost |
44.9 |
41.6 |
38.5 |
37.5 |
23.6 |
|
Expected Return on Plan Assets |
-43.8 |
-40.6 |
-28.6 |
-40.1 |
-26.2 |
|
Actuarial Gains and Losses |
81.3 |
47.1 |
53.8 |
-7.6 |
-7.4 |
|
Prior Service Cost |
-2.7 |
-2.5 |
-2.3 |
-0.1 |
0.0 |
|
Pension expense to multi-business owner |
0.1 |
0.1 |
0.1 |
0.0 |
- |
|
Domestic Pension Plan Expense |
111.4 |
71.9 |
87.2 |
18.6 |
8.7 |
|
Defined Contribution Expense - Domestic |
11.5 |
10.2 |
7.8 |
0.0 |
- |
|
Total Pension Expense |
123.0 |
82.0 |
95.0 |
18.6 |
8.7 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.80% |
- |
- |
- |
- |
|
Discount Rate |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected return on assets(MIN)-Retiremen |
2.50% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
2.50% |
2.50% |
2.50% |
3.50% |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
187.7 |
330.7 |
243.9 |
242.3 |
800.3 |
|
Notes and accounts receivable-trade |
1,544.0 |
1,548.9 |
1,350.9 |
1,297.3 |
1,258.7 |
|
Short-term investment securities |
562.5 |
1,023.0 |
639.2 |
685.2 |
558.9 |
|
Inventory |
- |
- |
- |
- |
738.2 |
|
Inventories - merchandise&finished goods |
780.0 |
689.8 |
564.8 |
600.6 |
- |
|
Inventories - work-in-process |
10.9 |
17.1 |
13.9 |
27.2 |
- |
|
Inventories - raw materials&supplies |
255.3 |
230.6 |
204.3 |
158.8 |
- |
|
Money deposited |
1,587.6 |
680.0 |
495.2 |
0.0 |
- |
|
Short term loans |
- |
2.4 |
4.6 |
510.4 |
310.7 |
|
Deferred Taxes |
113.4 |
151.4 |
121.9 |
131.4 |
127.2 |
|
Other Assets |
52.8 |
51.2 |
45.9 |
37.2 |
44.4 |
|
Allow.Doubt.Acct |
-0.5 |
-0.5 |
-0.4 |
-0.5 |
-0.2 |
|
Total Current Assets |
5,093.8 |
4,724.7 |
3,684.2 |
3,689.8 |
3,838.1 |
|
|
|
|
|
|
|
|
Buildings and structures, net |
455.4 |
494.4 |
442.6 |
477.1 |
515.6 |
|
Machinery, equipment and vehicles, net |
186.3 |
192.2 |
202.6 |
238.5 |
238.1 |
|
Tools, furniture and fixtures, net |
49.0 |
51.5 |
48.0 |
53.2 |
60.2 |
|
Land |
562.7 |
603.4 |
545.1 |
541.9 |
553.8 |
|
Lease assets, net |
0.8 |
0.4 |
0.3 |
0.2 |
0.0 |
|
Construction |
7.2 |
27.7 |
15.8 |
23.5 |
33.9 |
|
Trademark |
- |
- |
- |
- |
0.0 |
|
Goodwill |
1,281.2 |
1,395.8 |
1,345.9 |
1,371.8 |
1,462.3 |
|
Software |
31.8 |
30.8 |
30.7 |
21.4 |
21.6 |
|
Other Intangible |
14.4 |
12.2 |
10.4 |
20.7 |
13.7 |
|
Other LT Inv |
1,326.3 |
- |
- |
- |
- |
|
Invest.Secs. |
- |
1,451.4 |
1,407.1 |
1,162.1 |
884.1 |
|
Invt Secs Noncons, Asc, Affd Cos |
89.0 |
- |
- |
- |
- |
|
Equity secs.-nonconsol affil.&sub. |
- |
88.2 |
81.9 |
- |
- |
|
LT Loans |
- |
1.2 |
1.6 |
1.6 |
1.8 |
|
Long-term prepaid expenses |
174.2 |
89.2 |
95.7 |
57.0 |
10.1 |
|
Deferred tax assets |
95.9 |
166.4 |
153.0 |
139.1 |
40.6 |
|
Prepaid Retirem. |
511.0 |
488.0 |
393.1 |
359.2 |
341.5 |
|
Long-term time deposits |
22.6 |
23.6 |
36.3 |
22.1 |
57.7 |
|
Other Assets |
50.7 |
37.5 |
34.0 |
29.5 |
37.7 |
|
Allow.Doubt.Acct |
0.0 |
-0.5 |
-0.5 |
-0.2 |
-0.3 |
|
Total Assets |
9,952.3 |
9,878.2 |
8,528.0 |
8,208.5 |
8,110.3 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
350.5 |
357.3 |
294.9 |
264.2 |
272.7 |
|
Short-term loans payable |
26.3 |
34.9 |
25.8 |
73.9 |
67.7 |
|
Cur.LT Debt |
- |
0.0 |
0.3 |
1.4 |
12.5 |
|
Cur. Capital Lease |
- |
- |
0.1 |
0.1 |
- |
|
Accounts payable-other |
190.8 |
245.8 |
216.2 |
212.0 |
182.9 |
|
Taxes Payable |
81.6 |
183.5 |
118.6 |
148.0 |
153.4 |
|
Sale Tax Pybl. |
24.6 |
28.2 |
19.1 |
20.8 |
9.9 |
|
Allow.for Bonus |
135.0 |
138.4 |
119.4 |
125.9 |
136.6 |
|
Director Allowance for Bonuses |
- |
- |
0.0 |
0.1 |
0.1 |
|
Res.Sales Return |
2.0 |
2.0 |
1.8 |
1.5 |
2.0 |
|
Reserve for rebates of sales |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Res. for factory closure loss |
- |
- |
0.0 |
4.4 |
8.3 |
|
Provision for loss on disaster |
0.5 |
18.5 |
0.0 |
- |
- |
|
Other Current |
33.1 |
49.8 |
36.0 |
50.3 |
52.5 |
|
Total Current Liabilities |
844.6 |
1,058.4 |
832.3 |
902.6 |
898.7 |
|
|
|
|
|
|
|
|
LT Debt |
- |
- |
0.0 |
0.3 |
1.7 |
|
Lease |
- |
- |
0.3 |
- |
- |
|
Total Long Term Debt |
- |
- |
0.3 |
0.3 |
1.7 |
|
|
|
|
|
|
|
|
Dfrd.Tax Liab. |
113.3 |
138.2 |
120.6 |
118.2 |
128.6 |
|
Accru.Retire. |
128.5 |
143.0 |
140.8 |
161.4 |
170.1 |
|
Provision for directors'' retirement ben |
0.1 |
0.1 |
0.0 |
0.2 |
0.4 |
|
Resv. HCV litigation healthcare allow. |
17.7 |
18.3 |
17.4 |
17.5 |
17.7 |
|
Res.Sumon Case |
44.0 |
46.3 |
45.0 |
46.9 |
51.2 |
|
Reserve for HCV litigation |
30.6 |
55.8 |
114.4 |
202.5 |
112.5 |
|
Other Liabs. |
16.1 |
21.0 |
13.9 |
- |
- |
|
Traslation Adj. |
- |
- |
- |
13.7 |
20.2 |
|
Minority Int. |
69.7 |
69.5 |
67.9 |
139.3 |
146.5 |
|
Total Liabilities |
1,264.5 |
1,550.5 |
1,352.6 |
1,602.7 |
1,547.5 |
|
|
|
|
|
|
|
|
Common Stock |
606.9 |
603.3 |
535.1 |
506.2 |
502.3 |
|
Total capital surpluses |
5,476.5 |
5,443.8 |
4,828.6 |
4,568.0 |
4,532.9 |
|
Total retained earnings |
2,721.0 |
2,430.3 |
1,920.0 |
1,667.6 |
1,540.5 |
|
Treasury Stock |
-5.9 |
-4.9 |
-3.0 |
-2.8 |
-2.1 |
|
Valuation difference on available-for-sa |
-1.0 |
-32.7 |
-34.4 |
-56.7 |
15.2 |
|
Deferred Hedge |
1.1 |
-12.2 |
-4.0 |
-7.6 |
-8.4 |
|
Foreign Currency |
-110.9 |
-99.9 |
-66.9 |
-68.9 |
-17.6 |
|
Total Equity |
8,687.8 |
8,327.7 |
7,175.4 |
6,605.9 |
6,562.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
9,952.3 |
9,878.2 |
8,528.0 |
8,208.5 |
8,110.3 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
561.0 |
561.1 |
561.2 |
561.2 |
561.2 |
|
Total Common Shares Outstanding |
561.0 |
561.1 |
561.2 |
561.2 |
561.2 |
|
T/S-Common Stock |
0.4 |
0.4 |
0.3 |
0.3 |
0.2 |
|
Full-Time Employees |
9,180 |
9,198 |
9,266 |
10,030 |
10,361 |
|
Total Number of Shareholders |
14,628 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
12,235 |
10,448 |
11,665 |
11,396 |
|
LT Debts <1Yr. |
- |
- |
0.3 |
1.4 |
12.5 |
|
LT Debts <2Yr. |
- |
- |
- |
0.3 |
1.4 |
|
LT Debts <3Yr. |
- |
- |
- |
0.0 |
0.3 |
|
LT Debts <4Yr. |
- |
- |
- |
0.0 |
- |
|
LT Debts <5Yr. |
- |
- |
- |
0.0 |
- |
|
Total Long Term Debt, Supplemental |
- |
- |
0.3 |
1.7 |
14.2 |
|
Capital lease <1Yr. |
- |
- |
0.1 |
0.1 |
- |
|
Capital lease <2Yr. |
- |
- |
0.1 |
0.1 |
- |
|
Capital lease <3Yr. |
- |
- |
0.1 |
0.1 |
- |
|
Capital lease <4Yr. |
- |
- |
0.1 |
0.1 |
- |
|
Capital lease <5Yr. |
- |
- |
0.0 |
0.0 |
- |
|
Capital Leases - Remaining Maturities |
- |
- |
0.0 |
- |
- |
|
Total Capital Leases |
- |
- |
0.4 |
0.2 |
- |
|
Pension Obligation |
1,824.6 |
1,715.5 |
1,530.3 |
1,470.2 |
1,526.9 |
|
Fair Value of Plan Assets |
1,746.6 |
1,672.4 |
1,490.0 |
1,242.5 |
1,561.7 |
|
Funded Status |
-78.0 |
-43.0 |
-40.3 |
-227.7 |
34.9 |
|
Total Funded Status |
-78.0 |
-43.0 |
-40.3 |
-227.7 |
34.9 |
|
Discount Rate |
1.80% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return |
2.50% |
2.50% |
2.50% |
2.50% |
3.50% |
|
Unrecognized Actuarial Gains and Losses |
478.1 |
408.0 |
313.3 |
447.3 |
136.5 |
|
Unrecognized Prior Service Cost |
-17.5 |
-20.0 |
-20.7 |
-21.9 |
0.0 |
|
Prepaid Pension Benefit |
511.0 |
488.0 |
393.1 |
359.2 |
341.5 |
|
Accrued Pension Benefit |
-128.5 |
-143.0 |
-140.8 |
-161.4 |
-170.1 |
|
Net Assets Recognized on Balance Sheet |
843.1 |
733.1 |
544.8 |
623.2 |
307.9 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Income Before Tax |
807.8 |
748.0 |
548.5 |
477.5 |
341.3 |
|
Depreciation |
157.9 |
145.1 |
143.0 |
155.8 |
109.8 |
|
Impairment Loss |
42.2 |
9.4 |
19.8 |
33.3 |
0.0 |
|
Amortization of goodwill |
128.3 |
118.4 |
109.1 |
100.1 |
44.7 |
|
Increase (decrease) in provision for ret |
-15.9 |
-15.0 |
-11.9 |
-8.9 |
3.6 |
|
Decrease (increase) in prepaid pension c |
-20.9 |
-43.4 |
-13.5 |
-14.8 |
-62.7 |
|
Increase (decrease) in allowance for dou |
-0.5 |
0.0 |
-0.2 |
0.2 |
-1.0 |
|
Increase (decrease) in reserve for HCV l |
-26.7 |
-70.7 |
-100.2 |
87.6 |
79.7 |
|
Increase (decrease) in provision for los |
-18.9 |
17.9 |
0.0 |
- |
- |
|
Int.&Div. Income |
-29.8 |
-27.3 |
-27.1 |
-29.7 |
-16.1 |
|
Interest Expense |
0.2 |
0.2 |
0.3 |
0.9 |
1.0 |
|
Loss (gain) on sales and retirement of n |
-6.7 |
3.6 |
3.4 |
5.5 |
2.6 |
|
Loss (gain) on sales of investment secur |
0.0 |
-1.7 |
-0.9 |
-1.4 |
-0.9 |
|
Loss (gain) on valuation of investment s |
27.8 |
93.4 |
2.5 |
66.0 |
0.3 |
|
Equity in (earnings) losses of affiliate |
-2.1 |
-3.0 |
-5.3 |
-1.0 |
1.0 |
|
Subsidy for business promotion |
- |
- |
0.0 |
-4.0 |
-9.0 |
|
Merger Expenses |
- |
- |
- |
0.0 |
42.9 |
|
Factory closure loss |
- |
- |
0.0 |
1.6 |
14.3 |
|
Special retirement benefit |
- |
- |
0.0 |
43.2 |
9.8 |
|
HIV settlement expense |
- |
- |
0.0 |
12.5 |
0.0 |
|
Decrease (increase) in notes and account |
12.4 |
-29.9 |
-33.4 |
-39.6 |
104.5 |
|
Decrease (increase) in inventories |
-108.9 |
-55.7 |
-53.4 |
-49.5 |
-52.2 |
|
Increase (decrease) in notes and account |
-7.1 |
29.0 |
13.1 |
0.0 |
-67.5 |
|
Increase (decrease) in accounts payable- |
-27.1 |
-24.8 |
4.6 |
2.3 |
-22.2 |
|
Other, net |
-112.9 |
25.1 |
-60.5 |
-54.8 |
1.2 |
|
Int.&Div. Received |
31.9 |
30.1 |
29.4 |
30.7 |
14.6 |
|
Interest Paid |
-0.1 |
-0.2 |
-0.3 |
-0.9 |
-1.0 |
|
Subsidy rcvd. |
- |
0.0 |
4.3 |
10.2 |
0.0 |
|
Merger Expenses |
- |
- |
- |
0.0 |
-52.0 |
|
SP Retire.Paid |
- |
- |
0.0 |
-43.2 |
-16.0 |
|
Taxes Paid |
-359.3 |
-259.3 |
-313.8 |
-276.7 |
-137.4 |
|
Increase due to mergers |
- |
- |
- |
0.0 |
413.4 |
|
Increase on consol. subs. |
- |
- |
- |
0.0 |
11.2 |
|
Decrease on consol. subs. |
- |
- |
- |
0.0 |
-0.3 |
|
Subsidiary FY end Change |
- |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
471.7 |
689.3 |
257.4 |
503.0 |
757.6 |
|
|
|
|
|
|
|
|
Purchase of short-term investment securi |
-442.0 |
-873.3 |
-634.7 |
-577.0 |
-6.2 |
|
Sales of Mar. Sec. |
988.6 |
1,174.0 |
572.2 |
492.6 |
56.1 |
|
Time Deposits |
-24.6 |
-217.9 |
-111.1 |
-14.0 |
-87.9 |
|
Mat. of Time Deposit |
142.6 |
207.0 |
16.8 |
6.1 |
89.1 |
|
Increase in deposits |
-1,402.6 |
0.0 |
- |
- |
- |
|
Increase in long-term deposits |
-5.1 |
-6.4 |
-6.8 |
0.0 |
-24.7 |
|
Decrease in long-term deposits |
0.0 |
6.6 |
0.0 |
29.9 |
8.8 |
|
Purchase of property, plant and equipmen |
-120.3 |
-92.8 |
-88.7 |
-106.9 |
-75.1 |
|
Proceeds from sales of property, plant a |
27.5 |
10.4 |
0.8 |
0.3 |
2.0 |
|
Purch. of Intangible |
-15.8 |
-8.8 |
-11.5 |
-17.1 |
-15.9 |
|
Purch. of Inv. Sec. |
-17.8 |
-347.4 |
-483.8 |
-619.8 |
-32.2 |
|
Sales of Inv. Sec. |
69.0 |
58.4 |
28.4 |
61.4 |
41.7 |
|
Sale of Subsidiary Stock-Consol. Change |
- |
0.0 |
5.5 |
0.0 |
- |
|
Other, net |
-0.2 |
0.8 |
54.0 |
3.1 |
2.1 |
|
Cash from Investing Activities |
-800.7 |
-89.3 |
-658.8 |
-741.5 |
-42.2 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-9.1 |
5.6 |
-4.3 |
5.8 |
7.8 |
|
Repay./LT Debt |
- |
-0.3 |
-9.9 |
-12.4 |
-11.6 |
|
Proceed from minorities' payment |
- |
- |
- |
0.0 |
36.4 |
|
Treasury Stock |
- |
- |
0.0 |
-0.8 |
-0.3 |
|
Treasury stock sold |
- |
- |
0.0 |
0.1 |
0.2 |
|
Dividends Paid |
-206.1 |
-183.3 |
-169.1 |
-150.8 |
-84.9 |
|
Other, net |
-2.2 |
-1.9 |
-0.8 |
-1.0 |
-0.6 |
|
Cash from Financing Activities |
-217.3 |
-179.9 |
-184.0 |
-159.1 |
-53.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-5.0 |
-13.3 |
2.9 |
-32.2 |
-6.8 |
|
Net Change in Cash |
-551.4 |
406.8 |
-582.5 |
-429.8 |
655.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,239.6 |
735.5 |
1,259.9 |
1,593.2 |
745.2 |
|
Net Cash - Ending Balance |
688.2 |
1,142.2 |
677.4 |
1,163.4 |
1,400.6 |
|
Cash Interest Paid |
0.1 |
0.2 |
0.3 |
0.9 |
1.0 |
|
Cash Taxes Paid |
359.3 |
259.3 |
313.8 |
276.7 |
137.4 |
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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Financials in: USD (mil) |
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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.52.78 |
|
|
1 |
Rs.85.16 |
|
Euro |
1 |
Rs.67.78 |
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 SCs 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.