MIRA
INFORM REPORT
|
Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
MIMASU SEMICONDUCTOR IND. CO., LTD |
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Registered Office : |
2174-1, Hodota-machi, Takasaki-Shi, 370-3533 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2012 |
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Date of Incorporation : |
04.06.1969 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
processing of semiconductor materials, the sale of
precision equipment |
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No. of Employees : |
961 |
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
MIMASU
SEMICONDUCTOR IND. CO., LTD.
2174-1, Hodota-machi
Takasaki-Shi, 370-3533
Japan
Tel: 81-27-3722021
Fax: 81-27-3722018
Web: www.mimasu.co.jp
Synthesis
Employees: 961
Company Type: Public
Independent
Traded: Tokyo
Stock Exchange: 8155
Incorporation Date:
04-Jun-1969
Auditor: KPMG AZSA LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-May-2012
Reporting Currency: Japanese
Yen
Annual Sales: 534.8
1
Net Income: 15.1
Total Assets:
824.1 2
Market Value: 271.2
(28-Sep-2012)
Business Description
MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. is a company engaged in the
processing of semiconductor materials, the sale of precision equipment, as well
as the design, manufacture and sale of automatic devices. The Company operates
in three business divisions. The Semiconductor division mainly offers silicon
wafers, including prime wafers, reclaim wafers and others. The Industrial and
Commercial division provides measuring instruments, testing equipment and other
precision equipment, among others. The Engineering division is engaged in the
provision of various automatic devices, such as processing equipment for
semiconductor materials, robot systems and others. As of May 31, 2012, the
Company had one affiliated company. For the fiscal year ended 31 May 2012,
MIMASU SEMICONDUCTOR IND. CO., LTD. revenues decreased 29% to Y42.08B. Net
income increased 16% to Y1.19B. Revenues reflect Industry Business segment
decrease of 40% to Y17.77B, Semiconductor Business segment decrease of 18% to
Y24.31B, Engineering Business segment decrease from Y485M to Y0K. Net Income
benefited from Eliminations & Corporate segment loss decrease of 56% to
Y60M.
Industry
Industry Semiconductors
ANZSIC 2006: 2429 - Other
Electronic Equipment Manufacturing
NACE 2002: 3210 - Manufacture
of electronic valves and tubes and other electronic components
NAICS 2002: 334413 -
Semiconductor and Related Device Manufacturing
UK SIC 2003: 3210 - Manufacture
of electronic valves and tubes and other electronic components
UK SIC 2007: 2611 - Manufacture
of electronic components
US SIC 1987: 3674 -
Semiconductors and Related Devices
Key Executives
|
Name |
Title |
|
Masayuki Nakazawa |
President, Representative Director |
|
Naofumi Makino |
Deputy Director of Semiconductor Business, Director of Production
Management, Director |
|
Hiromasa Arai |
Co-Auditor |
|
Junichiro Uchida |
Chief Director Administration |
|
Kozaburo Katahira |
Managing Director, Director of Industrial Business, Director of Engineering
Business |
News
|
Title |
Date |
|
Mimasu Semicon 1Q Parent Net Pft Y403.00M Vs Y639.00M Pft Yr Earlier |
28-Sep-2012 |
|
Mimasu Semicon Expects 1H Parent Net
Profit Y600.00M |
28-Sep-2012 |
|
Mimasu Semicon Expects 1H Parent Pretax
Profit Y1.05B |
28-Sep-2012 |
|
Mimasu Semicon FY Parent Net Pft Y1.19B Vs
Y1.02B Pft Yr Earlier |
12-Jul-2012 |
|
Mimasu Semicon Expects This FY Parent Net
Profit Y1.20B |
26-Dec-2011 |
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.69807
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 78.98128
Corporate Overview
Location
2174-1, Hodota-machi
Takasaki-Shi, 370-3533
Japan
Tel: 81-27-3722021
Fax: 81-27-3722018
Web: www.mimasu.co.jp
Quote Symbol - Exchange
8155 - Tokyo Stock
Exchange
Sales JPY(mil): 42,084.0
Assets JPY(mil): 65,089.0
Employees: 961
Fiscal Year End: 31-May-2012
Industry: Semiconductors
Incorporation Date: 04-Jun-1969
Company Type: Public
Independent
Quoted Status: Quoted
President, Representative Director: Masayuki
Nakazawa
Company Web Links
Home Page
Contents
Industry Codes
Business Description
Financial Data
Market Data
Shareholders
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2429 - Other Electronic Equipment Manufacturing
3494 - Other Electrical and Electronic Goods Wholesaling
2419 - Other Professional and Scientific Equipment Manufacturing
2469 - Other Specialised Machinery and Equipment Manufacturing
NACE 2002 Codes:
3210 - Manufacture of electronic valves and tubes and other
electronic components
2924 - Manufacture of other general purpose machinery not
elsewhere classified
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
5187 - Wholesale of other machinery for use in industry, trade and
navigation
NAICS 2002 Codes:
334413 - Semiconductor and Related Device Manufacturing
423610 - Electrical Apparatus and Equipment, Wiring Supplies, and
Related Equipment Merchant Wholesalers
334513 - Instrument's and Related Products Manufacturing for
Measuring, Displaying, and Controlling Industrial Process Variable
333298 - All Other Industrial Machinery Manufacturing
US SIC 1987:
3674 - Semiconductors and Related Devices
3559 - Special Industry Machinery, Not Elsewhere Classified
3823 - Industrial Instruments for Measurement, Display, and
Control of Process Variables; and Related Products
5063 - Electrical Apparatus and Equipment Wiring Supplies, and
Construction Materials
UK SIC 2003:
3210 - Manufacture of electronic valves and tubes and other
electronic components
2924 - Manufacture of other general purpose machinery not
elsewhere classified
5187 - Wholesale of other machinery for use in industry, trade and
navigation
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
UK SIC 2007:
2611 - Manufacture of electronic components
2829 - Manufacture of other general-purpose machinery n.e.c.
4669 - Wholesale of other machinery and equipment
2651 - Manufacture of instruments and appliances for measuring,
testing and navigation
Business
Description
MIMASU SEMICONDUCTOR
INDUSTRY CO., LTD. is a company engaged in the processing of semiconductor
materials, the sale of precision equipment, as well as the design, manufacture
and sale of automatic devices. The Company operates in three business
divisions. The Semiconductor division mainly offers silicon wafers, including
prime wafers, reclaim wafers and others. The Industrial and Commercial division
provides measuring instruments, testing equipment and other precision
equipment, among others. The Engineering division is engaged in the provision
of various automatic devices, such as processing equipment for semiconductor
materials, robot systems and others. As of May 31, 2012, the Company had one
affiliated company. For the fiscal year ended 31 May 2012, MIMASU SEMICONDUCTOR
IND. CO., LTD. revenues decreased 29% to Y42.08B. Net income increased 16% to
Y1.19B. Revenues reflect Industry Business segment decrease of 40% to Y17.77B,
Semiconductor Business segment decrease of 18% to Y24.31B, Engineering Business
segment decrease from Y485M to Y0K. Net Income benefited from Eliminations
& Corporate segment loss decrease of 56% to Y60M.
More Business
Descriptions
Engineering
services specialising in processing and sale of silicon wafers
Mimasu Semiconductor
Ind. Co., Ltd. (Mimasu Corporation) is a Japan-based semiconductor and related
device manufacturing company. The company is primarily engaged in semiconductor
materials processing, sale of precision equipment, and design and manufacture
of automated equipment. The company carries out its operations through three
business divisions, namely, Semiconductor division, Industrial Sales division
and Engineering division.The Semiconductor materials processing division deals
with the processing of Silicon prime wafers, recycled wafers, gallium,
gadolinium, garnet and other wafers as well as wafer reproduction. For the
fiscal year ended 1 June 2011, the Semiconductor division segment’s revenue
increased 2.7% from JPY 28,836m in the previous year to JPY 29,610m. The
segment accounted for 48.2% of the total revenues in 2010. The Industrial Sales
division offer a range of manufacturing equipment including, wafer purification
equipments, particle counters, slicing machines, ion implantation, flatness
testers, IC inspection microscope, wafer steppers and wire bonders among many
others. The product line also has various instrumentation products such as
furnace control systems, FFT analyzers, torque meter and viscometer to name a
few. For the fiscal year ended 1 June 2011, the Industrial Sales division
segment’s revenue increased 0.1% from JPY 29,408m in the previous year to JPY
29,446m. The segment accounted for 48.0% of the total revenues in 2010. The
Engineering Division deals in manufacturing of semiconductor manufacturing
equipment, robotic systems and other automated systems. The division also
offers manufacturing capabilities with production facilities with a range of
equipment. For the fiscal year ended 1 June 2011, the Engineering division
segment’s revenue increased 130.9% from JPY 1,009m in the previous year to
JPY 2,330m. The segment accounted for 3.8% of the total revenues in 2010.
Mimasu Corporation has two manufacturing facilities, four marketing units and
one engineering unit, mainly concentrated at Gunma, Tochigi, Saitama and
Fukushima regions of Japan. The company has received ISO/TS 16949 and ISO 14001
management system certifications. The company has 36 handling manufacturers.
Few of them are ULVAC, Inc., ULVAC KIKO Inc., Illinois Tool Works Inc. and A
& D Company Ltd.
Mimasu
Semiconductor Ind. Co., Ltd. (Mimasu Corporation) is a technology and
communication based company engaged in semiconductor and related device manufacturing.
The company specializes in processing and sale of silicon wafers that include
prime wafers and reclaim wafers as well as measuring instruments, testing
machines and other precision equipment. It also designs, manufactures and sells
processing equipment for semiconductor materials and robot systems. The
operations are carried out through various divisions that include Semiconductor
materials processing; Industrial sales/Trading; and Engineering. The
company’s key products are automation equipment, measuring instruments,
precision equipment, robotic systems, semiconductor equipment and silicon
wafers. The company is headquartered in Gunma, Japan.The company reported
revenues of (Yen) JPY 59,535.00 million during the fiscal year ended May 2011,
an increase of 2.16% over 2010. The operating profit of the company was JPY
2,292.00 million during the fiscal year 2011, a decrease of 18.11% from 2010.
The net profit of the company was JPY 1,024.00 million during the fiscal year
2011, an increase of 87.89% over 2010.
Semiconductor and
Other Electronic Component Manufacturing
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Competitors Report
|
Company
Name |
Location |
Employees |
Ownership |
|
AOI ELECTRONICS CO.,LTD. |
Takamatsu-Shi, Japan |
1,517 |
Public |
|
NITTO DENKO CORPORATION |
Osaka-Shi, Japan |
26,468 |
Public |
|
Sumco Corp |
Tokyo, Japan |
8,328 |
Public |
|
Umc Japan |
Tateyama, Japan |
590 |
Public |
EXECUTVE REpORT
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Board of
Directors |
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Independent Director |
Director/Board Member |
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Vice President, Director of Semiconductor Business, Representative
Director |
Director/Board Member |
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Deputy Director of Semiconductor Business, Director |
Director/Board Member |
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Managing Director, Director of Industrial Business, Director of
Engineering Business |
Director/Board Member |
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Deputy Director of Semiconductor Business, Director of Production
Management, Director |
Director/Board Member |
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President, Representative Director |
Director/Board Member |
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Senior Managing Director, Chief Director of Administration |
Director/Board Member |
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Executives |
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President, Representative Director |
President |
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Managing Director, Director of Industrial Business, Director of
Engineering Business |
Managing Director |
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Chief Director Administration |
Managing Director |
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Senior Managing Director, Chief Director of Administration |
Managing Director |
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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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Deputy Director of Semiconductor Business, Director of Production
Management, Director |
Manufacturing Executive |
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News
|
Mimasu Semicon 1Q Parent Net Pft Y403.00M
Vs Y639.00M Pft Yr Earlier |
28-Sep-2012 |
|
Mimasu Semicon Expects 1H Parent Net
Profit Y600.00M |
28-Sep-2012 |
|
Mimasu Semicon Expects 1H Parent Pretax
Profit Y1.05B |
28-Sep-2012 |
|
Mimasu Semicon FY Parent Net Pft Y1.19B Vs
Y1.02B Pft Yr Earlier |
12-Jul-2012 |
|
Mimasu Semicon Expects This FY Parent Net
Profit Y1.20B |
26-Dec-2011 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-May-2012 |
31-May-2011 |
31-May-2010 |
31-May-2009 |
31-May-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) |
78.698065 |
83.931161 |
92.075644 |
99.54541 |
111.586981 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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|
Net Sales |
534.7 |
709.3 |
632.9 |
528.4 |
615.6 |
|
Revenue |
534.7 |
709.3 |
632.9 |
528.4 |
615.6 |
|
Other Revenue |
0.0 |
- |
- |
- |
- |
|
Other Revenue, Total |
0.0 |
- |
- |
- |
- |
|
Total Revenue |
534.8 |
709.3 |
632.9 |
528.4 |
615.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
474.2 |
639.4 |
576.0 |
477.5 |
517.2 |
|
Cost of Revenue, Total |
474.2 |
639.4 |
576.0 |
477.5 |
517.2 |
|
Gross Profit |
60.5 |
69.9 |
56.9 |
50.9 |
98.4 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
12.3 |
11.4 |
9.3 |
8.8 |
10.8 |
|
Labor & Related Expense |
15.9 |
15.7 |
13.2 |
12.8 |
11.5 |
|
Advertising Expense |
- |
- |
- |
- |
0.0 |
|
Total Selling/General/Administrative Expenses |
28.2 |
27.1 |
22.5 |
21.7 |
22.3 |
|
Research & Development |
1.4 |
13.0 |
3.0 |
1.2 |
16.7 |
|
Depreciation |
0.4 |
0.3 |
0.3 |
0.4 |
0.4 |
|
Depreciation/Amortization |
0.4 |
0.3 |
0.3 |
0.4 |
0.4 |
|
Impairment-Assets Held for Use |
0.7 |
0.5 |
1.7 |
1.6 |
1.1 |
|
Impairment-Assets Held for Sale |
0.6 |
- |
- |
- |
- |
|
Other Unusual Expense (Income) |
-1.7 |
1.6 |
-1.0 |
-1.9 |
0.0 |
|
Unusual Expense (Income) |
-0.3 |
2.1 |
0.7 |
-0.2 |
1.1 |
|
Total Operating Expense |
503.9 |
682.0 |
602.5 |
500.5 |
557.7 |
|
|
|
|
|
|
|
|
Operating Income |
30.9 |
27.3 |
30.4 |
27.9 |
57.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
0.0 |
0.0 |
0.0 |
-0.4 |
-0.8 |
|
Interest Expense, Net Non-Operating |
0.0 |
0.0 |
0.0 |
-0.4 |
-0.8 |
|
Interest Income -
Non-Operating |
0.1 |
0.0 |
0.0 |
0.2 |
0.1 |
|
Investment Income - Non-Operating |
-0.4 |
-0.8 |
-0.3 |
-0.5 |
-1.5 |
|
Interest/Investment Income - Non-Operating |
-0.3 |
-0.8 |
-0.2 |
-0.3 |
-1.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.3 |
-0.8 |
-0.3 |
-0.7 |
-2.2 |
|
Gain (Loss) on Sale of Assets |
-0.6 |
-0.6 |
-0.2 |
0.2 |
-2.4 |
|
Other Non-Operating Income (Expense) |
-2.2 |
-4.4 |
-18.2 |
-17.4 |
-1.0 |
|
Other, Net |
-2.2 |
-4.4 |
-18.2 |
-17.4 |
-1.0 |
|
Income Before Tax |
27.7 |
21.5 |
11.6 |
10.0 |
52.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
12.6 |
9.3 |
5.7 |
6.0 |
21.8 |
|
Income After Tax |
15.1 |
12.2 |
5.9 |
4.0 |
30.5 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
15.1 |
12.2 |
5.9 |
4.0 |
30.5 |
|
Net Income |
15.1 |
12.2 |
5.9 |
4.0 |
30.5 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Total Adjustments to Net Income |
- |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Common Excl Extraord Items |
15.1 |
12.1 |
5.9 |
3.9 |
30.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
15.1 |
12.1 |
5.9 |
3.9 |
30.4 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
33.5 |
33.5 |
33.5 |
33.5 |
33.5 |
|
Basic EPS Excl Extraord Items |
0.45 |
0.36 |
0.18 |
0.12 |
0.91 |
|
Basic/Primary EPS Incl Extraord Items |
0.45 |
0.36 |
0.18 |
0.12 |
0.91 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
15.1 |
12.1 |
5.9 |
3.9 |
30.4 |
|
Diluted Weighted Average Shares |
33.5 |
33.5 |
33.5 |
33.5 |
33.5 |
|
Diluted EPS Excl Extraord Items |
0.45 |
0.36 |
0.18 |
0.12 |
0.91 |
|
Diluted EPS Incl Extraord Items |
0.45 |
0.36 |
0.18 |
0.12 |
0.91 |
|
Dividends per Share - Common Stock Primary Issue |
0.30 |
0.29 |
0.26 |
0.24 |
0.20 |
|
Gross Dividends - Common Stock |
10.2 |
9.6 |
8.7 |
8.1 |
6.6 |
|
Interest Expense, Supplemental |
0.0 |
0.0 |
0.0 |
0.4 |
0.8 |
|
Depreciation, Supplemental |
0.4 |
67.5 |
73.7 |
151.5 |
217.3 |
|
Total Special Items |
0.2 |
2.7 |
1.0 |
-0.5 |
3.5 |
|
Normalized Income Before Tax |
27.9 |
24.2 |
12.6 |
9.5 |
55.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
1.2 |
0.5 |
-0.3 |
1.5 |
|
Inc Tax Ex Impact of Sp Items |
12.7 |
10.5 |
6.2 |
5.7 |
23.3 |
|
Normalized Income After Tax |
15.2 |
13.7 |
6.4 |
3.8 |
32.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.2 |
13.6 |
6.4 |
3.7 |
32.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.45 |
0.41 |
0.19 |
0.11 |
0.97 |
|
Diluted Normalized EPS |
0.45 |
0.41 |
0.19 |
0.11 |
0.97 |
|
Rental Expenses |
- |
- |
- |
- |
0.0 |
|
Advertising Expense, Supplemental |
- |
- |
- |
- |
0.0 |
|
Research & Development Exp, Supplemental |
2.4 |
14.2 |
4.1 |
1.7 |
16.7 |
|
Reported Operating Profit |
30.5 |
29.4 |
31.1 |
27.5 |
58.9 |
|
Reported Ordinary Profit |
28.0 |
24.2 |
12.6 |
10.1 |
55.5 |
|
Normalized EBIT |
30.5 |
29.4 |
31.1 |
27.6 |
59.0 |
|
Normalized EBITDA |
30.9 |
96.9 |
104.9 |
179.2 |
276.3 |
|
Current Tax - Total |
2.1 |
- |
- |
- |
- |
|
Current Tax - Total |
2.1 |
- |
- |
- |
- |
|
Deferred Tax - Total |
10.5 |
- |
- |
- |
- |
|
Deferred Tax - Total |
10.5 |
- |
- |
- |
- |
|
Income Tax - Total |
12.6 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
0.7 |
0.6 |
0.5 |
0.4 |
0.4 |
|
Service Cost - Domestic |
2.5 |
2.0 |
1.9 |
1.8 |
1.5 |
|
Prior Service Cost - Domestic |
0.0 |
2.8 |
- |
- |
- |
|
Expected Return on Assets - Domestic |
-0.2 |
-0.1 |
-0.1 |
-0.3 |
-0.3 |
|
Actuarial Gains and Losses - Domestic |
0.1 |
-0.3 |
-0.7 |
1.2 |
0.7 |
|
Domestic Pension Plan Expense |
3.2 |
5.0 |
1.5 |
3.1 |
2.3 |
|
Total Pension Expense |
3.2 |
5.0 |
1.5 |
3.1 |
2.3 |
|
Discount Rate - Domestic |
1.90% |
2.00% |
2.00% |
1.90% |
1.90% |
|
Expected Rate of Return - Domestic |
0.96% |
0.96% |
0.96% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
0.7 |
0.6 |
0.5 |
0.4 |
0.4 |
|
Total Plan Service Cost |
2.5 |
2.0 |
1.9 |
1.8 |
1.5 |
|
Total Plan Expected Return |
-0.2 |
-0.1 |
-0.1 |
-0.3 |
-0.3 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-May-2012 |
31-May-2011 |
31-May-2010 |
31-May-2009 |
31-May-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
78.981276 |
81.24 |
91.035 |
95.455 |
105.565 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
217.6 |
246.8 |
159.5 |
104.8 |
134.0 |
|
Short Term Investments |
- |
- |
0.0 |
0.0 |
0.0 |
|
Cash and Short Term Investments |
217.6 |
246.8 |
159.5 |
104.8 |
134.0 |
|
Accounts Receivable -
Trade, Gross |
177.1 |
221.8 |
304.0 |
119.2 |
152.5 |
|
Provision for Doubtful
Accounts |
-0.2 |
-0.2 |
-0.5 |
-0.1 |
-0.1 |
|
Trade Accounts Receivable - Net |
176.9 |
221.6 |
303.5 |
119.1 |
152.4 |
|
Notes Receivable - Short Term |
6.4 |
7.4 |
2.2 |
4.6 |
14.1 |
|
Other Receivables |
3.9 |
0.0 |
2.4 |
0.0 |
2.5 |
|
Total Receivables, Net |
187.2 |
228.9 |
308.1 |
123.6 |
169.1 |
|
Inventories - Finished Goods |
2.3 |
1.9 |
1.2 |
1.3 |
2.4 |
|
Inventories - Work In Progress |
7.7 |
4.6 |
5.3 |
4.5 |
10.6 |
|
Inventories - Raw Materials |
11.7 |
11.2 |
9.6 |
9.7 |
- |
|
Inventories - Other |
- |
- |
- |
- |
8.7 |
|
Total Inventory |
21.8 |
17.7 |
16.1 |
15.5 |
21.7 |
|
Prepaid Expenses |
5.7 |
5.7 |
5.1 |
4.7 |
9.8 |
|
Restricted Cash - Current |
12.7 |
- |
- |
- |
- |
|
Deferred Income Tax - Current Asset |
4.1 |
6.3 |
4.0 |
5.0 |
4.8 |
|
Other Current Assets |
0.2 |
0.3 |
1.9 |
0.4 |
0.6 |
|
Other Current Assets, Total |
17.0 |
6.6 |
5.9 |
5.4 |
5.4 |
|
Total Current Assets |
449.2 |
505.8 |
494.7 |
254.1 |
339.9 |
|
|
|
|
|
|
|
|
Buildings |
435.1 |
423.1 |
370.1 |
353.0 |
316.3 |
|
Land/Improvements |
42.6 |
41.4 |
37.0 |
35.1 |
31.0 |
|
Machinery/Equipment |
1,041.6 |
1,020.4 |
895.5 |
853.2 |
759.4 |
|
Construction in
Progress |
77.0 |
72.5 |
51.5 |
34.5 |
2.0 |
|
Property/Plant/Equipment - Gross |
1,596.2 |
1,557.4 |
1,354.2 |
1,275.9 |
1,108.7 |
|
Accumulated Depreciation |
-1,258.8 |
-1,193.5 |
-1,019.5 |
-919.2 |
-697.6 |
|
Property/Plant/Equipment - Net |
337.5 |
363.9 |
334.7 |
356.7 |
411.0 |
|
Intangibles - Gross |
40.1 |
- |
- |
- |
- |
|
Accumulated Intangible Amortization |
-23.8 |
- |
- |
- |
- |
|
Intangibles, Net |
16.2 |
20.0 |
21.1 |
25.2 |
27.4 |
|
LT Investments - Other |
2.3 |
2.3 |
2.1 |
1.9 |
2.5 |
|
Long Term Investments |
2.3 |
2.3 |
2.1 |
1.9 |
2.5 |
|
Note Receivable - Long Term |
- |
- |
- |
0.0 |
0.0 |
|
Deferred Income Tax - Long Term Asset |
16.7 |
24.3 |
20.5 |
22.2 |
16.8 |
|
Other Long Term Assets |
2.1 |
2.0 |
1.7 |
1.6 |
1.3 |
|
Other Long Term Assets, Total |
18.9 |
26.3 |
22.3 |
23.7 |
18.1 |
|
Total Assets |
824.1 |
918.3 |
874.9 |
661.7 |
799.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
107.7 |
179.4 |
256.0 |
52.0 |
68.3 |
|
Accrued Expenses |
15.4 |
16.2 |
13.4 |
12.0 |
13.8 |
|
Notes Payable/Short Term Debt |
14.4 |
35.0 |
15.9 |
19.3 |
58.5 |
|
Current Portion - Long Term Debt/Capital Leases |
1.3 |
1.2 |
0.5 |
1.0 |
0.9 |
|
Customer Advances |
0.1 |
0.0 |
0.1 |
0.1 |
1.4 |
|
Security Deposits |
0.6 |
0.6 |
0.8 |
0.8 |
0.3 |
|
Income Taxes Payable |
0.0 |
13.4 |
0.0 |
5.8 |
0.0 |
|
Other Payables |
2.5 |
14.6 |
9.7 |
11.1 |
142.3 |
|
Other Current Liabilities |
2.4 |
0.3 |
0.1 |
4.6 |
0.7 |
|
Other Current liabilities, Total |
5.6 |
29.0 |
10.7 |
22.3 |
144.7 |
|
Total Current Liabilities |
144.3 |
260.9 |
296.6 |
106.7 |
286.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
3.2 |
4.3 |
0.0 |
0.5 |
1.4 |
|
Total Long Term Debt |
3.2 |
4.3 |
0.0 |
0.5 |
1.4 |
|
Total Debt |
18.8 |
40.6 |
16.5 |
20.9 |
60.8 |
|
|
|
|
|
|
|
|
Reserves |
0.1 |
0.1 |
0.0 |
- |
- |
|
Pension Benefits - Underfunded |
17.2 |
17.0 |
13.1 |
12.6 |
11.4 |
|
Other Long Term Liabilities |
2.3 |
2.2 |
2.0 |
1.9 |
7.7 |
|
Other Liabilities, Total |
19.6 |
19.3 |
15.1 |
14.5 |
19.1 |
|
Total Liabilities |
167.1 |
284.6 |
311.6 |
121.7 |
306.7 |
|
|
|
|
|
|
|
|
Common Stock |
238.3 |
231.7 |
206.8 |
197.2 |
178.3 |
|
Common Stock |
238.3 |
231.7 |
206.8 |
197.2 |
178.3 |
|
Additional Paid-In Capital |
237.8 |
231.1 |
206.3 |
196.7 |
177.9 |
|
Retained Earnings (Accumulated Deficit) |
224.1 |
213.1 |
187.8 |
181.9 |
168.1 |
|
Treasury Stock - Common |
-43.2 |
-42.0 |
-37.4 |
-35.7 |
-32.3 |
|
Unrealized Gain (Loss) |
0.0 |
-0.3 |
-0.2 |
-0.1 |
0.3 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Equity, Total |
0.0 |
- |
- |
- |
- |
|
Total Equity |
657.0 |
633.7 |
563.3 |
540.0 |
492.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
824.1 |
918.3 |
874.9 |
661.7 |
799.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
33.5 |
33.5 |
33.5 |
33.5 |
33.5 |
|
Total Common Shares Outstanding |
33.5 |
33.5 |
33.5 |
33.5 |
33.5 |
|
Treasury Shares - Common Stock Primary Issue |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
|
Employees |
961 |
998 |
980 |
978 |
1,062 |
|
Number of Common Shareholders |
5,851 |
5,845 |
5,071 |
5,107 |
4,430 |
|
Accumulated Intangible Amort, Suppl. |
23.8 |
- |
- |
- |
- |
|
Deferred Revenue - Current |
0.1 |
0.0 |
0.1 |
0.1 |
1.4 |
|
Total Long Term Debt, Supplemental |
- |
1.2 |
0.5 |
1.6 |
2.4 |
|
Long Term Debt Maturing within 1 Year |
- |
1.2 |
0.5 |
1.0 |
0.9 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
0.5 |
0.9 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
0.0 |
0.5 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
0.5 |
1.4 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Pension Obligation - Domestic |
38.9 |
35.6 |
27.6 |
25.2 |
21.4 |
|
Plan Assets - Domestic |
21.7 |
18.6 |
14.5 |
12.6 |
11.5 |
|
Funded Status - Domestic |
-17.2 |
-17.0 |
-13.1 |
-12.6 |
-9.9 |
|
Total Funded Status |
-17.2 |
-17.0 |
-13.1 |
-12.6 |
-9.9 |
|
Discount Rate - Domestic |
1.90% |
2.00% |
2.00% |
1.90% |
1.90% |
|
Expected Rate of Return - Domestic |
0.96% |
0.96% |
0.96% |
2.50% |
2.50% |
|
Accrued Liabilities - Domestic |
-17.2 |
-17.0 |
-13.1 |
-12.6 |
-9.9 |
|
Net Assets Recognized on Balance Sheet |
-17.2 |
-17.0 |
-13.1 |
-12.6 |
-9.9 |
|
Total Plan Obligations |
38.9 |
35.6 |
27.6 |
25.2 |
21.4 |
|
Total Plan Assets |
21.7 |
18.6 |
14.5 |
12.6 |
11.5 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-May-2012 |
31-May-2011 |
31-May-2010 |
31-May-2009 |
31-May-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) |
78.698065 |
83.931161 |
92.075644 |
99.54541 |
111.586981 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
27.7 |
21.5 |
11.6 |
9.9 |
52.3 |
|
Depreciation |
50.3 |
67.5 |
73.7 |
151.5 |
217.3 |
|
Depreciation/Depletion |
50.3 |
67.5 |
73.7 |
151.5 |
217.3 |
|
Unusual Items |
1.2 |
0.6 |
1.9 |
2.0 |
2.6 |
|
Other Non-Cash Items |
-0.8 |
2.2 |
-0.1 |
2.8 |
1.9 |
|
Non-Cash Items |
0.4 |
2.8 |
1.8 |
4.8 |
4.5 |
|
Accounts Receivable |
52.5 |
110.3 |
-174.5 |
58.0 |
53.5 |
|
Inventories |
-3.5 |
0.3 |
0.1 |
8.2 |
-1.5 |
|
Accounts Payable |
-86.7 |
-97.7 |
194.9 |
-42.1 |
2.7 |
|
Accrued Expenses |
-0.1 |
0.0 |
0.2 |
-0.1 |
0.0 |
|
Other Operating Cash Flow |
-41.5 |
11.9 |
-13.2 |
4.9 |
-32.6 |
|
Changes in Working Capital |
-79.4 |
24.8 |
7.5 |
29.0 |
22.2 |
|
Cash from Operating Activities |
-1.0 |
116.5 |
94.6 |
195.2 |
296.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-22.9 |
-44.0 |
-26.2 |
-201.1 |
-208.3 |
|
Purchase/Acquisition of Intangibles |
-0.6 |
-1.7 |
-0.4 |
-2.8 |
-8.6 |
|
Capital Expenditures |
-23.5 |
-45.7 |
-26.6 |
-204.0 |
-216.9 |
|
Sale of Fixed Assets |
0.0 |
0.2 |
0.0 |
0.4 |
27.6 |
|
Sale/Maturity of Investment |
25.4 |
0.0 |
0.0 |
0.2 |
2.1 |
|
Purchase of Investments |
-25.5 |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
|
Other Investing Cash Flow |
-0.3 |
-0.2 |
-0.2 |
-0.1 |
-1.0 |
|
Other Investing Cash Flow Items, Total |
-0.4 |
-0.1 |
-0.2 |
0.3 |
28.6 |
|
Cash from Investing Activities |
-24.0 |
-45.8 |
-26.8 |
-203.7 |
-188.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
0.0 |
-8.8 |
-23.9 |
-20.9 |
|
Financing Cash Flow Items |
- |
0.0 |
-8.8 |
-23.9 |
-20.9 |
|
Cash Dividends Paid - Common |
-10.2 |
-9.6 |
-8.7 |
-7.7 |
-6.3 |
|
Total Cash Dividends Paid |
-10.2 |
-9.6 |
-8.7 |
-7.7 |
-6.3 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Issued |
0.0 |
6.0 |
0.0 |
- |
- |
|
Long Term Debt
Reduction |
-1.3 |
-1.2 |
-1.1 |
-1.0 |
-0.9 |
|
Long Term Debt, Net |
-1.3 |
4.8 |
-1.1 |
-1.0 |
-0.9 |
|
Issuance (Retirement) of Debt, Net |
-1.3 |
4.8 |
-1.1 |
-1.0 |
-0.9 |
|
Cash from Financing Activities |
-11.5 |
-4.8 |
-18.6 |
-32.6 |
-28.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
-0.1 |
-0.4 |
0.0 |
|
Net Change in Cash |
-36.4 |
65.9 |
49.0 |
-41.5 |
79.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
254.8 |
173.0 |
108.7 |
142.0 |
47.0 |
|
Net Cash - Ending Balance |
218.4 |
238.9 |
157.7 |
100.5 |
126.7 |
|
Cash Interest Paid |
0.0 |
0.0 |
0.0 |
0.4 |
0.8 |
|
Cash Taxes Paid |
19.6 |
-3.4 |
10.5 |
0.7 |
40.1 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-May-2012 |
31-May-2011 |
31-May-2010 |
31-May-2009 |
31-May-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) |
78.698065 |
83.931161 |
92.075644 |
99.54541 |
111.586981 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Good Sales |
241.7 |
387.5 |
361.1 |
174.0 |
120.7 |
|
Product Sales |
22.1 |
20.2 |
9.9 |
15.9 |
27.3 |
|
Processing Sales |
270.9 |
301.6 |
261.9 |
338.5 |
467.6 |
|
Total Revenue |
534.8 |
709.3 |
632.9 |
528.4 |
615.6 |
|
|
|
|
|
|
|
|
Cost of Good |
232.1 |
378.4 |
352.9 |
163.4 |
110.6 |
|
Cost of Product |
242.1 |
261.0 |
223.2 |
314.1 |
406.6 |
|
Other Selling/General/Admin. Expense |
0.1 |
- |
- |
- |
- |
|
Sales Commission |
- |
- |
- |
0.0 |
0.6 |
|
Transportation |
6.3 |
5.4 |
3.8 |
3.0 |
4.1 |
|
Advertising |
- |
- |
- |
- |
0.0 |
|
Travel Expense |
0.8 |
0.8 |
0.7 |
0.8 |
0.9 |
|
Vehicles |
- |
- |
- |
- |
0.0 |
|
Director's remuneration |
2.3 |
2.1 |
1.7 |
1.4 |
1.1 |
|
Salaries |
7.2 |
6.7 |
6.1 |
5.9 |
5.1 |
|
Bonuses |
3.4 |
3.4 |
2.9 |
2.8 |
2.8 |
|
Director Allowance for Bonuses |
0.7 |
0.8 |
0.7 |
0.5 |
0.5 |
|
Legal Welfare |
1.7 |
1.6 |
1.4 |
1.3 |
1.1 |
|
Welfare |
- |
- |
- |
- |
0.0 |
|
Periodic retirement benefit cost |
0.6 |
1.0 |
0.3 |
0.7 |
0.5 |
|
Allow.Dir.Retir.Bons |
- |
- |
0.0 |
0.2 |
0.3 |
|
Communication Fees |
- |
- |
- |
- |
0.0 |
|
Entertainment Exp. |
- |
- |
- |
- |
0.0 |
|
Supplies |
- |
- |
- |
- |
0.0 |
|
Tax & Public Charge |
- |
- |
- |
- |
0.0 |
|
Business Tax |
1.1 |
1.2 |
1.0 |
1.0 |
0.9 |
|
Rent |
- |
- |
- |
- |
0.0 |
|
Office Expense |
- |
- |
- |
- |
0.0 |
|
Depreciation |
0.4 |
0.3 |
0.3 |
0.4 |
0.4 |
|
Allow. Doubtful Acct |
0.0 |
0.0 |
0.4 |
0.0 |
0.0 |
|
Bad debt |
- |
- |
0.0 |
0.0 |
0.0 |
|
Research & Development |
1.4 |
13.0 |
3.0 |
1.2 |
16.7 |
|
Other SG&A |
4.1 |
4.1 |
3.4 |
3.9 |
4.3 |
|
Insurance income |
-1.8 |
- |
- |
- |
- |
|
SP Rev. of allowance for doubtful acct. |
0.0 |
-0.3 |
0.0 |
- |
- |
|
SP Penalty charges |
- |
- |
0.0 |
-1.5 |
0.0 |
|
SP Refund of fixed asset tax for prior |
- |
0.0 |
-0.9 |
0.0 |
- |
|
SP Other Special Gain |
0.0 |
0.0 |
-0.1 |
-0.5 |
0.0 |
|
SP Impairment Loss |
0.7 |
0.5 |
1.7 |
1.6 |
1.1 |
|
Loss on adjustment for changes of accoun |
0.0 |
0.1 |
0.0 |
- |
- |
|
SP Loss Reduction of Fixed Assets |
- |
- |
- |
- |
0.0 |
|
Loss On Valuation Of Investment Securiti |
0.6 |
- |
- |
- |
- |
|
SP Loss on disaster |
0.1 |
1.9 |
0.0 |
- |
- |
|
SP Other Special Loss |
- |
- |
0.0 |
0.2 |
0.0 |
|
Total Operating Expense |
503.9 |
682.0 |
602.5 |
500.5 |
557.7 |
|
|
|
|
|
|
|
|
Gain On Sales Of Goods |
0.1 |
- |
- |
- |
- |
|
Loss on sales of noncurrent assets |
-0.6 |
- |
- |
- |
- |
|
SP Gain Sale PP&E |
- |
- |
- |
0.0 |
0.4 |
|
SP GainSale Inv. Secs. |
- |
- |
- |
0.0 |
0.3 |
|
SP Loss Sale/retirement PP&E |
- |
-0.6 |
-0.2 |
-0.5 |
-2.8 |
|
NOP Interest Income |
0.1 |
0.0 |
0.0 |
0.2 |
0.1 |
|
NOP Int. on Mark. Secs. |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
NOP Dividend Income |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
|
NOP Sale of Goods Income |
- |
- |
0.0 |
0.7 |
0.0 |
|
NOP Exchange Gain |
- |
- |
- |
- |
0.0 |
|
Other Non-Operating Income |
0.2 |
- |
- |
- |
- |
|
Other Non-Operating Expense |
-0.3 |
- |
- |
- |
- |
|
Other |
0.2 |
- |
- |
- |
- |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Supplies Received |
- |
0.0 |
0.1 |
0.0 |
- |
|
NOP Compensation Income |
0.0 |
0.3 |
0.0 |
- |
- |
|
NOP Interest on refund |
0.0 |
0.1 |
0.0 |
- |
- |
|
NOP Other Income |
- |
0.3 |
0.2 |
0.4 |
0.5 |
|
NOP Interest Expense |
0.0 |
0.0 |
0.0 |
-0.4 |
-0.8 |
|
NOP Allowance for Doubtful Accounts |
- |
- |
0.0 |
-0.4 |
0.0 |
|
NOP Foreign exchange losses |
-0.4 |
-0.8 |
-0.3 |
-0.5 |
-1.9 |
|
NOP Loss on discontinued facilities |
-2.1 |
-4.6 |
-18.0 |
-17.4 |
0.0 |
|
NOP Lease Cancellation Loss |
- |
- |
- |
0.0 |
-1.0 |
|
NOP Other Expense |
-0.2 |
-0.6 |
-0.5 |
0.0 |
-0.4 |
|
Net Income Before Taxes |
27.7 |
21.5 |
11.6 |
10.0 |
52.4 |
|
|
|
|
|
|
|
|
Total income taxes |
12.6 |
9.3 |
5.7 |
6.0 |
21.8 |
|
Net Income After Taxes |
15.1 |
12.2 |
5.9 |
4.0 |
30.5 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
15.1 |
12.2 |
5.9 |
4.0 |
30.5 |
|
Net Income |
15.1 |
12.2 |
5.9 |
4.0 |
30.5 |
|
|
|
|
|
|
|
|
EPS Adjustment |
- |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Com Excl ExtraOrd |
15.1 |
12.1 |
5.9 |
3.9 |
30.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
15.1 |
12.1 |
5.9 |
3.9 |
30.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
33.5 |
33.5 |
33.5 |
33.5 |
33.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.45 |
0.36 |
0.18 |
0.12 |
0.91 |
|
Basic EPS Including ExtraOrdinary Item |
0.45 |
0.36 |
0.18 |
0.12 |
0.91 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
15.1 |
12.1 |
5.9 |
3.9 |
30.4 |
|
Diluted Weighted Average Shares |
33.5 |
33.5 |
33.5 |
33.5 |
33.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.45 |
0.36 |
0.18 |
0.12 |
0.91 |
|
Diluted EPS Including ExtraOrd Items |
0.45 |
0.36 |
0.18 |
0.12 |
0.91 |
|
DPS-Common Stock |
0.30 |
0.29 |
0.26 |
0.24 |
0.20 |
|
Gross Dividends - Common Stock |
10.2 |
9.6 |
8.7 |
8.1 |
6.6 |
|
Normalized Income Before Taxes |
27.9 |
24.2 |
12.6 |
9.5 |
55.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
12.7 |
10.5 |
6.2 |
5.7 |
23.3 |
|
Normalized Income After Taxes |
15.2 |
13.7 |
6.4 |
3.8 |
32.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.2 |
13.6 |
6.4 |
3.7 |
32.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.45 |
0.41 |
0.19 |
0.11 |
0.97 |
|
Diluted Normalized EPS |
0.45 |
0.41 |
0.19 |
0.11 |
0.97 |
|
Advertising Expense |
- |
- |
- |
- |
0.0 |
|
Interest Expense |
0.0 |
0.0 |
0.0 |
0.4 |
0.8 |
|
Rental Expense |
- |
- |
- |
- |
0.0 |
|
Research And Development Expense |
1.4 |
- |
- |
- |
- |
|
Research and Development Expenses |
1.0 |
- |
- |
- |
- |
|
Research & Development(SGA) |
- |
13.0 |
3.0 |
1.2 |
16.7 |
|
Research & DevelopmentCOGS) |
- |
1.2 |
1.1 |
0.5 |
- |
|
Depreciation |
0.4 |
- |
- |
- |
- |
|
Depreciation |
- |
67.5 |
73.7 |
151.5 |
217.3 |
|
Income taxes-current |
2.1 |
- |
- |
- |
- |
|
Current Tax - Total |
2.1 |
- |
- |
- |
- |
|
Income taxes-deferred |
10.5 |
- |
- |
- |
- |
|
Deferred Tax - Total |
10.5 |
- |
- |
- |
- |
|
Income Tax - Total |
12.6 |
- |
- |
- |
- |
|
Reported Operating Profit |
30.5 |
29.4 |
31.1 |
27.5 |
58.9 |
|
Reported Ordinary Profit |
28.0 |
24.2 |
12.6 |
10.1 |
55.5 |
|
Service Cost |
2.5 |
2.0 |
1.9 |
1.8 |
1.5 |
|
Interest Cost |
0.7 |
0.6 |
0.5 |
0.4 |
0.4 |
|
Expected Return on Plan Assets |
-0.2 |
-0.1 |
-0.1 |
-0.3 |
-0.3 |
|
Prior Service Cost |
0.0 |
2.8 |
- |
- |
- |
|
Actuarial Gains and Losses |
0.1 |
-0.3 |
-0.7 |
1.2 |
0.7 |
|
Domestic Pension Plan Expense |
3.2 |
5.0 |
1.5 |
3.1 |
2.3 |
|
Total Pension Expense |
3.2 |
5.0 |
1.5 |
3.1 |
2.3 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.90% |
- |
- |
- |
- |
|
Discount Rate |
- |
2.00% |
2.00% |
1.90% |
1.90% |
|
Expected return on assets(MIN)-Retiremen |
0.96% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
0.96% |
0.96% |
2.50% |
2.50% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-May-2012 |
31-May-2011 |
31-May-2010 |
31-May-2009 |
31-May-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
78.981276 |
81.24 |
91.035 |
95.455 |
105.565 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash&Deposit |
217.6 |
246.8 |
159.5 |
104.8 |
134.0 |
|
Notes receivable-trade |
6.4 |
7.4 |
2.2 |
4.6 |
14.1 |
|
Accounts receivable-trade |
177.1 |
221.8 |
304.0 |
119.2 |
152.5 |
|
Marketable securities |
- |
- |
0.0 |
0.0 |
0.0 |
|
Goods |
- |
- |
- |
- |
0.4 |
|
Products |
- |
- |
- |
- |
2.1 |
|
Merchandise & finished goods |
2.3 |
1.9 |
1.2 |
1.3 |
- |
|
Good in Process |
7.7 |
4.6 |
5.3 |
4.5 |
10.6 |
|
inventories-supplies |
- |
- |
- |
- |
8.7 |
|
Raw materials & supplies |
11.7 |
11.2 |
9.6 |
9.7 |
- |
|
Advance payments-trade |
1.2 |
- |
- |
- |
- |
|
Advance |
- |
- |
0.0 |
2.5 |
7.7 |
|
Prepaid Expense |
4.5 |
5.7 |
5.1 |
2.2 |
2.0 |
|
Dfrd. Tax Asset |
4.1 |
6.3 |
4.0 |
5.0 |
4.8 |
|
Income tax receivable |
3.9 |
0.0 |
2.4 |
0.0 |
2.5 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other |
0.2 |
0.3 |
1.9 |
0.4 |
0.6 |
|
Allowance for Doubtful Accounts |
-0.2 |
-0.2 |
-0.5 |
-0.1 |
-0.1 |
|
Deposits Paid |
12.7 |
- |
- |
- |
- |
|
Total Current Assets |
449.2 |
505.8 |
494.7 |
254.1 |
339.9 |
|
|
|
|
|
|
|
|
Buildings |
403.3 |
391.7 |
342.1 |
326.5 |
292.3 |
|
Dpre.-Buildings |
-225.2 |
-201.5 |
-164.7 |
-139.8 |
-108.3 |
|
Structures |
31.8 |
31.4 |
28.0 |
26.5 |
24.0 |
|
Dpre.-Structures |
-20.9 |
-19.3 |
-16.1 |
-14.1 |
-11.7 |
|
Machinery |
1,014.7 |
994.2 |
872.5 |
831.0 |
739.2 |
|
Dpre.-Machinery |
-990.8 |
-952.3 |
-821.5 |
-750.4 |
-566.9 |
|
Vehicles |
1.8 |
1.8 |
1.5 |
1.4 |
1.5 |
|
Dpre.-Vehicles |
-1.5 |
-1.4 |
-1.3 |
-1.1 |
-1.1 |
|
Fixtures/Supp. |
25.1 |
24.5 |
21.5 |
20.8 |
18.7 |
|
Dpre.-Fixtures/Supp. |
-20.4 |
-19.1 |
-15.9 |
-13.7 |
-9.7 |
|
Property/Plant/Equipment, Total - Net |
0.0 |
- |
- |
- |
- |
|
Land |
42.6 |
41.4 |
37.0 |
35.1 |
31.0 |
|
Constr. in Prog. |
77.0 |
72.5 |
51.5 |
34.5 |
2.0 |
|
Other Licenses/Franchises/Rights , Net |
0.0 |
- |
- |
- |
- |
|
Other Other Intangibles, Net |
0.0 |
- |
- |
- |
- |
|
Other Total Intangible Assets, Net |
0.0 |
- |
- |
- |
- |
|
Software |
- |
5.4 |
7.1 |
10.2 |
10.4 |
|
Telephone Right |
- |
- |
- |
0.0 |
0.0 |
|
Water Facility |
- |
13.0 |
13.2 |
14.2 |
14.2 |
|
Other Intangible |
- |
1.6 |
0.8 |
0.8 |
2.9 |
|
Investment Secs. |
2.3 |
2.3 |
2.1 |
1.9 |
2.5 |
|
Claims bankruptcy & others, net |
- |
- |
- |
0.0 |
0.0 |
|
Allowance For Doubtful Accounts |
-0.1 |
- |
- |
- |
- |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Long-term prepaid expenses |
1.1 |
1.0 |
0.9 |
0.5 |
0.5 |
|
Deferred tax assets |
16.7 |
24.3 |
20.5 |
22.2 |
16.8 |
|
Guarant. Money |
0.5 |
0.5 |
0.4 |
0.4 |
0.4 |
|
Other Assets |
0.5 |
0.4 |
0.4 |
1.0 |
0.5 |
|
Allowance for Doubtful Accounts |
- |
- |
0.0 |
-0.4 |
0.0 |
|
Adjustment |
- |
0.1 |
0.1 |
0.0 |
0.0 |
|
Accumulated Amort of Intangible Assets |
-7.4 |
- |
- |
- |
- |
|
Accumulated Amort of Intangible Asse |
-16.4 |
- |
- |
- |
- |
|
Accumulated Amort of Intangible Ass |
-0.1 |
- |
- |
- |
- |
|
Software - Gross |
10.3 |
- |
- |
- |
- |
|
Other Intangible Assets - Gross |
28.0 |
- |
- |
- |
- |
|
Other Intangible Assets - Gross |
1.8 |
- |
- |
- |
- |
|
Total Assets |
824.1 |
918.3 |
874.9 |
661.7 |
799.0 |
|
|
|
|
|
|
|
|
Notes payable-trade |
14.4 |
24.3 |
15.9 |
19.3 |
35.9 |
|
Accounts payable-trade |
107.7 |
179.4 |
256.0 |
52.0 |
68.3 |
|
Current portion of long-term loans payab |
1.3 |
1.2 |
0.5 |
1.0 |
0.9 |
|
Accounts payable-other |
2.5 |
14.6 |
9.7 |
11.1 |
142.3 |
|
Accrd. Expense |
14.7 |
15.4 |
12.7 |
11.4 |
13.3 |
|
Corp. Tax Pay. |
0.0 |
13.4 |
0.0 |
5.8 |
0.0 |
|
Advance |
0.1 |
0.0 |
0.1 |
0.1 |
1.4 |
|
Deposits received |
0.6 |
0.6 |
0.8 |
0.8 |
0.3 |
|
Deferred revenue, current |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Provision for directors'' bonuses |
0.7 |
0.8 |
0.7 |
0.6 |
0.6 |
|
Rounding adjustment Liability |
0.1 |
- |
- |
- |
- |
|
Provision for loss on disaster |
0.0 |
0.3 |
0.0 |
- |
- |
|
NotePybl.-Equip. |
- |
10.8 |
0.0 |
0.0 |
22.5 |
|
Other |
2.3 |
0.0 |
0.1 |
4.6 |
0.7 |
|
Total Current Liabilities |
144.3 |
260.9 |
296.6 |
106.7 |
286.2 |
|
|
|
|
|
|
|
|
Long-term loans payable |
3.2 |
4.3 |
0.0 |
0.5 |
1.4 |
|
Total Long Term Debt |
3.2 |
4.3 |
0.0 |
0.5 |
1.4 |
|
|
|
|
|
|
|
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Long-term accounts payable |
- |
- |
- |
0.0 |
7.7 |
|
Asset retirement obligations |
0.1 |
0.1 |
0.0 |
- |
- |
|
Res.Accrd.Retir. |
17.2 |
17.0 |
13.1 |
12.6 |
9.9 |
|
Allow.Dir.Retir. |
- |
- |
- |
0.0 |
1.4 |
|
Other LT Liabs. |
2.2 |
2.2 |
2.0 |
1.9 |
0.1 |
|
Total Liabilities |
167.1 |
284.6 |
311.6 |
121.7 |
306.7 |
|
|
|
|
|
|
|
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Common Stock |
238.3 |
231.7 |
206.8 |
197.2 |
178.3 |
|
Legal capital surplus |
237.8 |
231.1 |
206.3 |
196.7 |
177.9 |
|
Other Retained Earnings |
0.0 |
- |
- |
- |
- |
|
Surplus Reserve |
8.7 |
8.5 |
7.6 |
7.2 |
6.5 |
|
Contingent Res. |
100.0 |
97.2 |
86.8 |
82.8 |
65.4 |
|
Unappropriated |
115.3 |
107.4 |
93.5 |
91.9 |
96.2 |
|
Treasury Stock |
-43.2 |
-42.0 |
-37.4 |
-35.7 |
-32.3 |
|
Valuation difference on available-for-sa |
0.0 |
-0.3 |
-0.2 |
-0.1 |
0.3 |
|
Total Equity |
657.0 |
633.7 |
563.3 |
540.0 |
492.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
824.1 |
918.3 |
874.9 |
661.7 |
799.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
33.5 |
33.5 |
33.5 |
33.5 |
33.5 |
|
Total Common Shares Outstanding |
33.5 |
33.5 |
33.5 |
33.5 |
33.5 |
|
T/S-Common Stock |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
|
Accumulated Amort of Intangible Assets |
7.4 |
- |
- |
- |
- |
|
Accumulated Amort of Intangible Asse |
16.4 |
- |
- |
- |
- |
|
Accumulated Amort of Intangible Ass |
0.1 |
- |
- |
- |
- |
|
Advance |
0.1 |
0.0 |
0.1 |
0.1 |
1.4 |
|
Deferred Revenue - Current |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Full-Time Employees |
961 |
998 |
980 |
978 |
1,062 |
|
Total Number of Shareholders |
5,851 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
5,845 |
5,071 |
5,107 |
4,430 |
|
LT debt matured within 1 yr. |
- |
1.2 |
0.5 |
1.0 |
0.9 |
|
LT debt matured within 2 yr. |
- |
- |
- |
0.5 |
0.9 |
|
LT debt matured within 3 yr. |
- |
- |
- |
0.0 |
0.5 |
|
Total Long Term Debt, Supplemental |
- |
1.2 |
0.5 |
1.6 |
2.4 |
|
Pension Obligation |
38.9 |
35.6 |
27.6 |
25.2 |
21.4 |
|
Fair Value of Plan Assets |
21.7 |
18.6 |
14.5 |
12.6 |
11.5 |
|
Funded Status - Total/No Break-down |
-17.2 |
- |
- |
- |
- |
|
Funded Status |
- |
-17.0 |
-13.1 |
-12.6 |
-9.9 |
|
Total Funded Status |
-17.2 |
-17.0 |
-13.1 |
-12.6 |
-9.9 |
|
Discount Rate |
1.90% |
2.00% |
2.00% |
1.90% |
1.90% |
|
Expected Rate of Return |
0.96% |
0.96% |
0.96% |
2.50% |
2.50% |
|
Reserve for Accrued Retirement Benefits |
-17.2 |
-17.0 |
-13.1 |
-12.6 |
-9.9 |
|
Net Assets Recognized on Balance Sheet |
-17.2 |
-17.0 |
-13.1 |
-12.6 |
-9.9 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-May-2012 |
31-May-2011 |
31-May-2010 |
31-May-2009 |
31-May-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) |
78.698065 |
83.931161 |
92.075644 |
99.54541 |
111.586981 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Income before income taxes |
27.7 |
21.5 |
11.6 |
9.9 |
52.3 |
|
Depreciation |
50.3 |
67.5 |
73.7 |
151.5 |
217.3 |
|
Impairment Loss |
0.7 |
0.5 |
1.7 |
1.6 |
1.1 |
|
Increase (decrease) in provision for los |
-0.3 |
0.3 |
0.0 |
- |
- |
|
Increase (decrease) in allowance for dou |
0.0 |
-0.3 |
0.0 |
0.4 |
0.0 |
|
Increase (decrease) in provision for dir |
-0.1 |
0.0 |
0.2 |
-0.1 |
0.0 |
|
Increase (decrease) in provision for ret |
-0.3 |
2.3 |
-0.1 |
1.6 |
1.0 |
|
Increase (decrease) in provision for dir |
- |
- |
0.0 |
0.2 |
0.2 |
|
Int. & Div. Income |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
-0.2 |
|
Interest expenses |
0.0 |
0.0 |
0.0 |
0.4 |
0.8 |
|
Foreign exchange losses (gains) |
0.0 |
0.0 |
0.1 |
0.4 |
0.0 |
|
Loss on retirement of property, plant an |
0.4 |
0.1 |
0.1 |
0.4 |
1.8 |
|
Gain Sale Inv. Sec. |
- |
- |
- |
- |
-0.3 |
|
Decrease (increase) in notes and account |
52.5 |
110.3 |
-174.5 |
58.0 |
53.5 |
|
Decrease (increase) in inventories |
-3.5 |
0.3 |
0.1 |
8.2 |
-1.5 |
|
Increase (decrease) in notes and account |
-86.7 |
-97.7 |
194.9 |
-42.1 |
2.7 |
|
Payments For Loss On Disaster |
-0.7 |
- |
- |
- |
- |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
- |
|
Insurance Received |
1.8 |
- |
- |
- |
- |
|
Other, net |
-23.1 |
8.4 |
-2.8 |
5.8 |
8.1 |
|
Interest and dividends income received |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Interest Paid |
0.0 |
0.0 |
0.0 |
-0.4 |
-0.8 |
|
Tax Paid |
-19.6 |
-1.9 |
-10.5 |
-3.7 |
-40.1 |
|
Tax refund |
0.0 |
5.4 |
0.0 |
3.1 |
0.0 |
|
Adjustment |
- |
- |
-0.1 |
- |
- |
|
Cash from Operating Activities |
-1.0 |
116.5 |
94.6 |
195.2 |
296.2 |
|
|
|
|
|
|
|
|
Payments Into Time Deposits |
-25.4 |
- |
- |
- |
- |
|
Time Deposit/Made |
- |
- |
0.0 |
0.0 |
-0.1 |
|
Proceeds From Withdrawal Of Time Deposit |
25.4 |
- |
- |
- |
- |
|
Time Deposit/Mat. |
- |
- |
0.0 |
0.1 |
0.1 |
|
Purchase of property, plant and equipmen |
-22.9 |
-44.0 |
-26.2 |
-201.1 |
-208.3 |
|
Proceeds from sales of property, plant a |
0.0 |
0.2 |
0.0 |
0.4 |
27.6 |
|
Purch. Intangible |
-0.6 |
-1.7 |
-0.4 |
-2.8 |
-8.6 |
|
Purch. Inv. Sec. |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Sale Invest. Sec. |
- |
0.0 |
0.0 |
0.1 |
2.0 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Other, net |
-0.3 |
-0.2 |
-0.2 |
-0.1 |
-1.0 |
|
Cash from Investing Activities |
-24.0 |
-45.8 |
-26.8 |
-203.7 |
-188.4 |
|
|
|
|
|
|
|
|
Proceeds from long-term loans payable |
0.0 |
6.0 |
0.0 |
- |
- |
|
Repayment of long-term loans payable |
-1.3 |
-1.2 |
-1.1 |
-1.0 |
-0.9 |
|
Purchase Of Treasury Stock |
0.0 |
- |
- |
- |
- |
|
Purch. Treas. Stk. |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividend Paid |
-10.2 |
-9.6 |
-8.7 |
-7.7 |
-6.3 |
|
Inc other LT payables |
- |
- |
- |
- |
0.0 |
|
Dec other LT payables |
- |
0.0 |
-8.8 |
-23.9 |
-20.9 |
|
Other |
- |
- |
- |
0.0 |
0.0 |
|
Cash from Financing Activities |
-11.5 |
-4.8 |
-18.6 |
-32.6 |
-28.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
-0.1 |
-0.4 |
0.0 |
|
Net increase (decrease) in cash and cash |
-36.4 |
65.9 |
49.0 |
-41.5 |
79.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
254.8 |
173.0 |
108.7 |
142.0 |
47.0 |
|
Net Cash - Ending Balance |
218.4 |
238.9 |
157.7 |
100.5 |
126.7 |
|
Cash Interest Paid |
0.0 |
0.0 |
0.0 |
0.4 |
0.8 |
|
Cash Taxes Paid |
19.6 |
-3.4 |
10.5 |
0.7 |
40.1 |
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.53.07 |
|
UK Pound |
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.24 |
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.