MIRA
INFORM REPORT
|
Report Date : |
16.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
DAIFUKU CO., LTD. |
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Registered Office : |
3-2-11, Mitejima, Nishi Yodogawa-ku, Osaka-Shi, 555-0012 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
20.05.1937 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
manufacture and
sale of material handling systems and equipment, as well as car washing
machines |
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No. of Employees : |
5,617 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
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High |
B2 |
|
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 & address
DAIFUKU CO., LTD.
3-2-11, Mitejima, Nishi Yodogawa-ku
Osaka-Shi, 555-0012
Japan
Tel: 81-6-64721261
Fax: 81-6-64762561
Web: www.daifuku.com
Synthesis
Employees: 5,617
Company Type: Public Parent
Corporate Family: 73
Companies
Traded: Tokyo
Stock Exchange: 6383
Incorporation Date:
20-May-1937
Auditor: Arata Auditing Firm
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: Japanese
Yen
Annual Sales: 2,508.2 1
Net Income: 15.5
Total Assets: 2,246.1 2
Market Value: 576.0
(05-Oct-2012)
Business Description
DAIFUKU CO., LTD. is a Japan-based company engaged in the manufacture and sale of material handling systems and equipment, as well as car washing machines. Through its subsidiaries, the Company is also involved in the design and manufacture of logistics equipment, the maintenance and management of buildings, the development, manufacture and sale of personal computer (PC) peripheral equipment, industrial computers and network equipment, as well as the manufacture and sale of baggage transportation systems used in airports. On April 1, 2012, it transferred the house related business to a Japan-based company and also merged with two wholly owned subsidiaries. For the three months ended 30 June 2012, DAIFUKU CO., LTD. revenues increased 12% to Y45.62B. Net loss decreased 43% to Y304M. Revenues reflect Other segment increase of 27% to Y11.33B, DWHC business segment increase of 18% to Y7.11B. Lower net loss reflects SP L.Val.Inv.Secs. decrease of 93% to Y54M (expense), SP Other SP Loss decrease of 91% to Y4M (expense). Basic Earnings per Share excluding Extraordinary Items increased from -Y4.88 to -Y2.75.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2491 - Lifting and
Material Handling Equipment Manufacturing
NACE 2002: 2922 - Manufacture
of lifting and handling equipment
NAICS 2002: 333922 - Conveyor
and Conveying Equipment Manufacturing
UK SIC 2003: 2922 - Manufacture
of lifting and handling equipment
UK SIC 2007: 2822 - Manufacture
of lifting and handling equipment
US SIC 1987: 3535 - Conveyors
and Conveying Equipment
Key Executives
|
Name |
Title |
|
Masaki Hojo |
President, Executive President, Representative Director |
|
Yoshihisa Kimura |
Executive Officer, Chief Director of Finance and Accounting |
|
Hiroshi Geshiro |
Executive Officer, Chief Director of Sales in FA&DA Business Unit |
|
Yoshiyuki Horiba |
Executive Officer, Chief Director of FPD in eFA Business Unit |
|
Shigeyoshi Fujita |
Managing Director |
Significant Developments
|
* number of significant developments within the last 12 months
News
|
Title |
Date |
|
Contec Unveils Seamless Solution for CPE
Logistics and Repair; Fully-Integrated System Continues High-Tech Evolution of
QuickTest@ Platform |
11-Oct-2012 |
|
Contec Unveils Seamless Solution for CPE
Logistics and Repair; Fully-Integrated System Continues High-Tech Evolution
of QuickTest® Platform |
11-Oct-2012 |
|
Daifuku, Bain Capital Final Bidders for
Triton's Dematic - Sources |
26-Sep-2012 |
|
Firms With
Shareholder Perks At Record-High Ratio |
14-Sep-2012 |
|
Contec Announces Consensual Agreement to Significantly
Reduce Long Term Debt |
|
Financial Summary
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536
Corporate Overview
Location
3-2-11, Mitejima, Nishi Yodogawa-ku
Osaka-Shi, 555-0012
Japan
Tel: 81-6-64721261
Fax: 81-6-64762561
Web: www.daifuku.com
Quote Symbol - Exchange
6383 - Tokyo Stock
Exchange
Sales JPY(mil): 198,052.0
Assets JPY(mil): 185,049.0
Employees: 5,617
Fiscal Year End: 31-Mar-2012
Industry: Miscellaneous
Capital Goods
Incorporation Date: 20-May-1937
Company Type: Public
Parent
Quoted Status: Quoted
Managing Director: Shigeyoshi
Fujita
Company Web Links
Corporate History/Profile
Executives
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Shareholders
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2491 - Lifting and Material Handling Equipment Manufacturing
9429 - Other Machinery and Equipment Repair and Maintenance
2469 - Other Specialised Machinery and Equipment Manufacturing
2421 - Computer and Electronic Office Equipment Manufacturing
NACE 2002 Codes:
2922 - Manufacture of lifting and handling equipment
3002 - Manufacture of computers and other information processing
equipment
2924 - Manufacture of other general purpose machinery not
elsewhere classified
5274 - Repair not elsewhere classified
NAICS 2002 Codes:
333922 - Conveyor and Conveying Equipment Manufacturing
333298 - All Other Industrial Machinery Manufacturing
811310 - Commercial and Industrial Machinery and Equipment (except
Automotive and Electronic) Repair and Maintenance
334119 - Other Computer Peripheral Equipment Manufacturing
US SIC 1987:
3535 - Conveyors and Conveying Equipment
3577 - Computer Peripheral Equipment, Not Elsewhere Classified
3559 - Special Industry Machinery, Not Elsewhere Classified
7699 - Repair Shops and Related Services, Not Elsewhere Classified
UK SIC 2003:
2922 - Manufacture of lifting and handling equipment
3002 - Manufacture of computers and other information processing
equipment
5274 - Repair not elsewhere classified
2924 - Manufacture of other general purpose machinery not
elsewhere classified
UK SIC 2007:
2822 - Manufacture of lifting and handling equipment
2620 - Manufacture of computers and peripheral equipment
2829 - Manufacture of other general-purpose machinery n.e.c.
9529 - Repair of other personal and household goods
Business
Description
DAIFUKU CO., LTD.
is a Japan-based company engaged in the manufacture and sale of material
handling systems and equipment, as well as car washing machines. Through its
subsidiaries, the Company is also involved in the design and manufacture of
logistics equipment, the maintenance and management of buildings, the
development, manufacture and sale of personal computer (PC) peripheral
equipment, industrial computers and network equipment, as well as the
manufacture and sale of baggage transportation systems used in airports. On
April 1, 2012, it transferred the house related business to a Japan-based
company and also merged with two wholly owned subsidiaries. For the three
months ended 30 June 2012, DAIFUKU CO., LTD. revenues increased 12% to Y45.62B.
Net loss decreased 43% to Y304M. Revenues reflect Other segment increase of 27%
to Y11.33B, DWHC business segment increase of 18% to Y7.11B. Lower net loss
reflects SP L.Val.Inv.Secs. decrease of 93% to Y54M (expense), SP Other SP Loss
decrease of 91% to Y4M (expense). Basic Earnings per Share excluding
Extraordinary Items increased from -Y4.88 to -Y2.75.
More Business
Descriptions
Manufacture of
machinery and material handling systems including automated storage and
retrieval systems, conveyor systems and automatic guided vehicles
Material Handling
Systems Mfr
Daifuku Co. Ltd.
is the worlds most advanced supplier of automated material handling systems
(AMHS) and software to the semiconductor automotive and general industry
markets. Daifuku is headquartered in Osaka Japan with sales and service offices
throughout the world.
This major group
includes establishments engaged in manufacturing industrial and commercial machinery
and equipment and computers. Included are the manufacture of engines and
turbines; farm and garden machinery; construction, mining, and oil field
machinery; elevators and conveying equipment; hoists, cranes, monorails, and
industrial trucks and tractors; metalworking machinery; special industry
machinery; general industrial machinery; computer and peripheral equipment and
office machinery; and refrigeration and service industry machinery. Machines
powered by built-in or detachable motors ordinarily are included in this major
group.
Automobile and Light Duty Motor Vehicle Manufacturing
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Corporate Family |
Corporate
Structure News: |
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DAIFUKU
CO., LTD. |
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DAIFUKU CO., LTD. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Osaka-Shi |
Japan |
Miscellaneous Capital Goods |
2,508.2 |
5,617 |
|
|
Subsidiary |
Farmington Hills, MI |
United States |
Scientific and Technical Instruments |
250.0 |
2,000 |
|
|
Subsidiary |
Hamilton, ON |
Canada |
Miscellaneous Capital Goods |
56.1 |
200 |
|
|
Facility |
Harbor Springs, MI |
United States |
Miscellaneous Capital Goods |
49.2 |
150 |
|
|
Facility |
Carlisle, SC |
United States |
Miscellaneous Fabricated Products |
21.0 |
80 |
|
|
Branch |
Boyne City, MI |
United States |
Electronic Instruments and Controls |
11.2 |
55 |
|
|
Subsidiary |
Northampton |
United Kingdom |
Construction and Agriculture Machinery |
|
10 |
|
|
Joint Venture |
Bengaluru |
India |
Miscellaneous Capital Goods |
1.0 |
|
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Subsidiary |
Mönchengladbach |
Germany |
Miscellaneous Capital Goods |
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|
Branch |
Abrera |
Spain |
Miscellaneous Capital Goods |
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Branch |
Palaiseau |
France |
Miscellaneous Capital Goods |
|
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|
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Subsidiary |
Osaka-Shi |
Japan |
Computer Hardware |
208.7 |
495 |
|
|
Subsidiary |
Osaka |
Japan |
Electronic Instruments and Controls |
|
110 |
|
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Subsidiary |
Komaki, Aichi |
Japan |
Electronic Instruments and Controls |
137.2 |
|
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Subsidiary |
Sunnyvale, CA |
United States |
Electronic Instruments and Controls |
|
12 |
|
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Subsidiary |
Jakarta |
Indonesia |
Miscellaneous Capital Goods |
|
200 |
|
|
Subsidiary |
Hull |
United Kingdom |
Miscellaneous Capital Goods |
51.9 |
144 |
|
|
Subsidiary |
Shiheung, Kyonggi-Do |
Korea, Republic of |
Miscellaneous Capital Goods |
|
112 |
|
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Subsidiary |
Reynoldsburg, OH |
United States |
Miscellaneous Capital Goods |
51.6 |
100 |
|
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Branch |
Salt Lake City, UT |
United States |
Miscellaneous Capital Goods |
81.6 |
150 |
|
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Subsidiary |
Reynoldsburg, OH |
United States |
Miscellaneous Capital Goods |
|
50 |
|
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Branch |
Austin, TX |
United States |
Business Services |
3.6 |
16 |
|
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Branch |
Chandler, AZ |
United States |
Miscellaneous Capital Goods |
5.7 |
6 |
|
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Branch |
Manor, TX |
United States |
Miscellaneous Capital Goods |
1.5 |
6 |
|
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Branch |
Lexington, KY |
United States |
Miscellaneous Capital Goods |
1.3 |
5 |
|
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Branch |
Fort Branch, IN |
United States |
Engineering Consultants |
0.6 |
3 |
|
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Branch |
Madison, MS |
United States |
Miscellaneous Capital Goods |
0.5 |
2 |
|
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Subsidiary |
Silom, Bangkrak, Bangkok |
Thailand |
Miscellaneous Capital Goods |
|
100 |
|
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Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
|
70 |
|
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Subsidiary |
Petaling Jaya |
Malaysia |
Miscellaneous Capital Goods |
|
66 |
|
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Subsidiary |
Incheon |
Korea, Republic of |
Scientific and Technical Instruments |
|
53 |
|
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Subsidiary |
Milton Keynes |
United Kingdom |
Construction Services |
16.9 |
49 |
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Branch |
Askim |
Sweden |
Miscellaneous Capital Goods |
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Branch |
Moenchengladbach |
Germany |
Miscellaneous Capital Goods |
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Subsidiary |
Langley |
United Kingdom |
Miscellaneous Capital Goods |
|
35 |
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Subsidiary |
Shiga |
Japan |
Business Services |
|
25 |
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Subsidiary |
Ivry-sur-Seine |
France |
Miscellaneous Transportation |
7.9 |
14 |
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Subsidiary |
Louisville, KY |
United States |
Miscellaneous Transportation |
6.5 |
14 |
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Subsidiary |
Mississauga, ON |
Canada |
Miscellaneous Capital Goods |
7.1 |
8 |
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Subsidiary |
Taipei |
Taiwan |
Miscellaneous Capital Goods |
350.0 |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
1.0 |
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Subsidiary |
Osaka |
Japan |
Security Systems and Services |
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Subsidiary |
Osaka |
Japan |
Software and Programming |
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Subsidiary |
Taipei |
Taiwan |
Computer Hardware |
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Subsidiary |
Chon Buri |
Thailand |
Miscellaneous Capital Goods |
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Subsidiary |
Incheon |
Korea, Republic of |
Miscellaneous Capital Goods |
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Division |
Incheon |
Korea, Republic of |
Scientific and Technical Instruments |
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Division |
Seoul |
Korea, Republic of |
Scientific and Technical Instruments |
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Subsidiary |
New Delhi |
India |
Miscellaneous Capital Goods |
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Branch |
Bangalore |
India |
Miscellaneous Capital Goods |
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Subsidiary |
Shiga |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Osaka |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Shanghai |
China |
Software and Programming |
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Subsidiary |
Komaki |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Beijing |
China |
Computer Hardware |
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Subsidiary |
Changshu |
China |
Miscellaneous Capital Goods |
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Subsidiary |
Tianjin |
China |
Scientific and Technical Instruments |
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Subsidiary |
Guangzhou |
China |
Miscellaneous Capital Goods |
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Subsidiary |
Hwaseong |
Korea, Republic of |
Electronic Instruments and Controls |
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Subsidiary |
T'ainan |
Taiwan |
Scientific and Technical Instruments |
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Facility |
Taichung |
Taiwan |
Miscellaneous Capital Goods |
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Subsidiary |
Shanghai |
China |
Scientific and Technical Instruments |
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Subsidiary |
Farmington Hills, MI |
United States |
Investment Services |
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Subsidiary |
Taipei |
Taiwan |
Computer Hardware |
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Subsidiary |
Seoul |
Korea, Republic of |
Scientific and Technical Instruments |
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Facility |
Asan, Chungnam |
Korea, Republic of |
Scientific and Technical Instruments |
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Subsidiary |
Ibaraki |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Changshu, Jiangsu |
China |
Miscellaneous Capital Goods |
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Unit |
Shiga |
Japan |
Scientific and Technical Instruments |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
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Subsidiary |
Shanghai |
China |
Auto and Truck Parts |
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Executive report
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Board of
Directors |
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Chairman of the Board, Representative Director |
Chairman |
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Vice Chairman |
Vice-Chairman |
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Managing Executive Officer, Chief Senior Director of China, Chairman
of Subsidiary, Director |
Director/Board Member |
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Managing Executive Officer, Director of ABH Business, Chairman of
Subsidiary, Director |
Director/Board Member |
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President, Executive President, Representative Director |
Director/Board Member |
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Senior Managing Director, Senior Managing Executive Officer,
Representative Director |
Director/Board Member |
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Managing Executive Officer, Director of LSP Business, Manager of
Komaki Business Center, Manager of Shiga Business, Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Executive Vice President, Vice President, Representative Director |
Director/Board Member |
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Senior Managing Executive Officer, Director of eFA Business, Director |
Director/Board Member |
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Senior Managing Executive Officer, Director of AFA Business, Chief
Director of Production in AFA Business Unit, Director |
Director/Board Member |
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Senior Managing Executive Officer, Director of FA & DA Business,
Chief Director of Production, Director |
Director/Board Member |
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Executives |
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Managing Director |
Chief Executive Officer |
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President, Executive President, Representative Director |
President |
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President |
President |
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Managing Director-FA & DA |
Division Head Executive |
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Managing Director-AFA |
Division Head Executive |
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Managing Director-EFA |
Division Head Executive |
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Managing Director |
Managing Director |
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Senior Managing Director, Senior Managing Executive Officer,
Representative Director |
Managing Director |
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Senior Managing Director |
Managing Director |
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Senior Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Executive Vice President and Chief Operating Officer Cleanroom
Automation |
Operations Executive |
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Executive Officer, Chief Director of Finance and Accounting |
Finance Executive |
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Co-Auditor |
Finance Executive |
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Corporate Auditor |
Accounting Executive |
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Corporate Auditor |
Accounting Executive |
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Corporate Auditor |
Accounting Executive |
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Corporate Auditor |
Accounting Executive |
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Corporate Auditor |
Accounting Executive |
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Executive Officer, Chief Director of Sales in FA&DA Business Unit |
Sales Executive |
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Managing Executive Officer, Chief Director of Sales in AFA Business
Unit |
Sales Executive |
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Executive Officer, Chief Director of FPD in eFA Business Unit |
Other |
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Executive Officer, Chief Director of Production in LSP Business Unit |
Other |
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Executive Officer, Chief Director of DTS in FA&DA Business Unit |
Other |
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Managing Executive Officer, Chief Director of CSR, Chief Director of
BCP Promotion |
Other |
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Executive Officer, Chief Director of Project in FA&DA Business
Unit |
Other |
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Executive Officer, Chief Senior Director of Production, Chief Director
of Production Technology |
Other |
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|||||
|
Managing Executive Officer, Chief Director of Semiconductor in eFA
Business Unit |
Other |
|
|
|||||
|
|||||||||
|
Executive Officer, President of Subsidiary |
Other |
|
|
|||||
|
Managing Executive Officer, Deputy Director of FA & DA Business |
Other |
|
|
|||||
|
|||||||||
|
Director of Public Relations |
Other |
|
|
|||||
|
Executive Officer, Deputy Director of FA & DA Business |
Other |
|
|
|||||
Significant Developments
R&I Affirms DAIFUKU CO LTD's Rating at "A-"; Rating Outlook Stable Sep 21, 2012
Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on DAIFUKU CO LTD at "A-". The rating outlook is stable.
Taiwan Semiconductor Manufacturing Co Ltd Acquires Equipment from DAIFUKU. CO., LTD Aug 27, 2012
Taiwan Semiconductor Manufacturing Co., Ltd. announced that it has acquired a set of equipment from DAIFUKU. CO., LTD for NTD 1,969,015,706 and a set of equipment from DAIFUKU. CO., LTD in Taiwan for NTD 873,268,186.
Daifuku Co., Ltd. to Acquire Crane Transport System Service Business Dec 26, 2011
Daifuku Co., Ltd. announced that it has decided to acquire crane transport system service business from Hitachi Plant Technologies, Ltd.
Taiwan Semiconductor Manufacturing Co. Acquires Equipment Dec 19, 2011
Taiwan Semiconductor Manufacturing Co. announced that it has acquired a set of equipment from DAIFUKU CO., LTD. for NTD 1,075,084,893, and a set of equipment from Taiwan Daifuku Co., Ltd. for NTD 693,828,920.
Daifuku Co., Ltd. to Merge with Wholly Owned Subsidiaries; Amends Consolidated Full-year Forecast for FY 2012 Dec 15, 2011
Daifuku Co., Ltd. announced that it has decided to merge with two wholly owned subsidiaries, effective April 1, 2012. One of the two subsidiaries is engaged in sales and construction of material handling system and machines, as well as after service. The other one is engaged in design and engineering of material handling system. The Company will be the surviving company and the subsidiaries will be dissolved. The Company has reaffirmed the consolidated full-year forecast for revenue of JPY 195,000 million, operating profit of JPY 3,500 million, ordinary profit of JPY 3,000 million and lowered the forecast for net profit from JPY 800 million to JPY 100 million and earning per share from JPY 7.23 to JPY 0.90 for the fiscal year ending March 31, 2012. The Company lowered the net profit outlook due to change in tax policy.
Daifuku Co., Ltd. to Transfer Business to Japan-based Company Nov 14,
2011
Daifuku Co., Ltd.
announced that it has decided to transfer the house related business to a
Japan-based company, which will become a wholly owned subsidiary, at the same
time of the business transaction, effective April 1, 2012.
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 |
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
2,508.2 |
1,858.6 |
1,659.2 |
2,410.1 |
2,026.4 |
|
Revenue |
2,508.2 |
1,858.6 |
1,659.2 |
2,410.1 |
2,026.4 |
|
Total Revenue |
2,508.2 |
1,858.6 |
1,659.2 |
2,410.1 |
2,026.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,096.0 |
1,536.2 |
1,379.3 |
1,944.9 |
1,594.5 |
|
Cost of Revenue, Total |
2,096.0 |
1,536.2 |
1,379.3 |
1,944.9 |
1,594.5 |
|
Gross Profit |
412.2 |
322.4 |
279.9 |
465.3 |
431.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
113.5 |
105.2 |
94.4 |
123.1 |
96.0 |
|
Labor & Related Expense |
200.8 |
158.7 |
147.1 |
149.0 |
121.5 |
|
Advertising Expense |
1.7 |
1.3 |
1.2 |
4.5 |
2.1 |
|
Total Selling/General/Administrative Expenses |
316.0 |
265.2 |
242.7 |
276.6 |
219.6 |
|
Research & Development |
22.2 |
19.1 |
21.2 |
25.6 |
21.9 |
|
Depreciation |
20.5 |
17.8 |
15.1 |
13.6 |
9.4 |
|
Amortization of Acquisition Costs |
-0.7 |
-0.7 |
-1.1 |
-1.0 |
0.0 |
|
Depreciation/Amortization |
19.8 |
17.2 |
14.0 |
12.6 |
9.4 |
|
Impairment-Assets Held for Use |
1.3 |
0.3 |
0.3 |
5.4 |
1.3 |
|
Impairment-Assets Held for Sale |
9.1 |
0.0 |
0.0 |
4.3 |
0.9 |
|
Other Unusual Expense (Income) |
0.6 |
6.7 |
-10.7 |
0.1 |
0.4 |
|
Unusual Expense (Income) |
11.1 |
7.0 |
-10.4 |
9.8 |
2.5 |
|
Other Operating Expense |
0.0 |
- |
- |
- |
- |
|
Other Operating Expenses, Total |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
2,465.1 |
1,844.7 |
1,646.8 |
2,269.5 |
1,848.0 |
|
|
|
|
|
|
|
|
Operating Income |
43.1 |
13.9 |
12.4 |
140.6 |
178.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-10.9 |
-9.4 |
-10.0 |
-7.9 |
-3.8 |
|
Interest Expense, Net Non-Operating |
-10.9 |
-9.4 |
-10.0 |
-7.9 |
-3.8 |
|
Interest Income -
Non-Operating |
1.3 |
1.4 |
2.2 |
2.5 |
2.8 |
|
Investment Income - Non-Operating |
2.1 |
-2.8 |
-2.1 |
-0.5 |
0.3 |
|
Interest/Investment Income - Non-Operating |
3.4 |
-1.4 |
0.1 |
2.0 |
3.1 |
|
Interest Income (Expense) - Net Non-Operating Total |
-7.5 |
-10.8 |
-9.9 |
-5.9 |
-0.8 |
|
Gain (Loss) on Sale of Assets |
-0.3 |
-0.5 |
0.3 |
0.6 |
0.1 |
|
Other Non-Operating Income (Expense) |
4.3 |
5.7 |
6.4 |
3.6 |
2.4 |
|
Other, Net |
4.3 |
5.7 |
6.4 |
3.6 |
2.4 |
|
Income Before Tax |
39.6 |
8.2 |
9.3 |
138.9 |
180.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
23.3 |
2.3 |
-2.1 |
62.9 |
71.0 |
|
Income After Tax |
16.3 |
5.9 |
11.4 |
76.0 |
109.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.8 |
-2.7 |
-0.4 |
2.2 |
-5.1 |
|
Net Income Before Extraord Items |
15.5 |
3.2 |
11.0 |
78.1 |
104.1 |
|
Net Income |
15.5 |
3.2 |
11.0 |
78.1 |
104.1 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
15.5 |
3.1 |
11.0 |
78.1 |
104.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
15.5 |
3.1 |
11.0 |
78.1 |
104.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
110.7 |
110.7 |
110.7 |
111.7 |
113.2 |
|
Basic EPS Excl Extraord Items |
0.14 |
0.03 |
0.10 |
0.70 |
0.92 |
|
Basic/Primary EPS Incl Extraord Items |
0.14 |
0.03 |
0.10 |
0.70 |
0.92 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
15.5 |
3.1 |
11.0 |
78.1 |
104.0 |
|
Diluted Weighted Average Shares |
110.7 |
111.8 |
112.1 |
113.6 |
115.1 |
|
Diluted EPS Excl Extraord Items |
0.14 |
0.03 |
0.10 |
0.69 |
0.90 |
|
Diluted EPS Incl Extraord Items |
0.14 |
0.03 |
0.10 |
0.69 |
0.90 |
|
Dividends per Share - Common Stock Primary Issue |
0.19 |
0.18 |
0.22 |
0.26 |
0.23 |
|
Gross Dividends - Common Stock |
21.0 |
13.5 |
23.8 |
28.6 |
25.7 |
|
Interest Expense, Supplemental |
10.9 |
9.4 |
10.0 |
7.9 |
3.8 |
|
Depreciation, Supplemental |
20.5 |
41.7 |
39.6 |
39.1 |
29.8 |
|
Total Special Items |
10.6 |
9.6 |
-9.9 |
10.5 |
3.8 |
|
Normalized Income Before Tax |
50.2 |
17.8 |
-0.6 |
149.4 |
183.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
6.7 |
2.1 |
-3.8 |
4.2 |
0.9 |
|
Inc Tax Ex Impact of Sp Items |
30.0 |
4.4 |
-5.8 |
67.1 |
72.0 |
|
Normalized Income After Tax |
20.2 |
13.3 |
5.2 |
82.3 |
112.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.4 |
10.6 |
4.8 |
84.5 |
106.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.18 |
0.10 |
0.04 |
0.76 |
0.94 |
|
Diluted Normalized EPS |
0.18 |
0.09 |
0.04 |
0.74 |
0.93 |
|
Amort of Acquisition Costs, Supplemental |
-0.7 |
2.1 |
0.8 |
1.3 |
1.4 |
|
Rental Expenses |
7.4 |
6.5 |
6.0 |
6.1 |
5.4 |
|
Advertising Expense, Supplemental |
1.7 |
1.3 |
1.2 |
4.5 |
2.1 |
|
Research & Development Exp, Supplemental |
59.9 |
74.3 |
65.4 |
79.8 |
82.8 |
|
Reported Operating Profit |
53.4 |
20.1 |
0.9 |
149.4 |
180.9 |
|
Reported Ordinary Profit |
50.9 |
15.7 |
-1.5 |
148.1 |
180.5 |
|
Normalized EBIT |
54.2 |
20.9 |
2.0 |
150.4 |
180.9 |
|
Normalized EBITDA |
73.9 |
64.7 |
42.4 |
190.8 |
212.1 |
|
Current Tax - Total |
19.5 |
- |
- |
- |
- |
|
Current Tax - Total |
19.5 |
- |
- |
- |
- |
|
Deferred Tax - Total |
3.8 |
- |
- |
- |
- |
|
Deferred Tax - Total |
3.8 |
- |
- |
- |
- |
|
Income Tax - Total |
23.3 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
17.6 |
17.5 |
17.1 |
16.6 |
3.1 |
|
Service Cost - Domestic |
14.8 |
12.6 |
10.7 |
11.0 |
8.8 |
|
Prior Service Cost - Domestic |
0.0 |
0.0 |
-3.0 |
-4.2 |
-2.5 |
|
Expected Return on Assets - Domestic |
-16.4 |
-15.5 |
-12.5 |
-21.2 |
-5.3 |
|
Actuarial Gains and Losses - Domestic |
32.8 |
17.1 |
18.4 |
1.6 |
-5.2 |
|
Domestic Pension Plan Expense |
48.8 |
31.7 |
30.6 |
3.9 |
-1.0 |
|
Defined Contribution Expense - Domestic |
6.8 |
5.8 |
5.1 |
5.0 |
3.0 |
|
Total Pension Expense |
55.6 |
37.6 |
35.6 |
8.9 |
2.0 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
1.00% |
1.00% |
0.00% |
5.00% |
5.00% |
|
Total Plan Interest Cost |
17.6 |
17.5 |
17.1 |
16.6 |
3.1 |
|
Total Plan Service Cost |
14.8 |
12.6 |
10.7 |
11.0 |
8.8 |
|
Total Plan Expected Return |
-16.4 |
-15.5 |
-12.5 |
-21.2 |
-5.3 |
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 |
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
359.0 |
383.1 |
333.4 |
286.5 |
319.0 |
|
Cash and Short Term Investments |
359.0 |
383.1 |
333.4 |
286.5 |
319.0 |
|
Accounts Receivable -
Trade, Gross |
833.6 |
570.3 |
514.6 |
635.0 |
625.3 |
|
Provision for Doubtful
Accounts |
-1.4 |
-1.6 |
-1.1 |
-3.1 |
-2.8 |
|
Trade Accounts Receivable - Net |
832.2 |
568.8 |
513.4 |
631.9 |
622.5 |
|
Total Receivables, Net |
832.2 |
568.8 |
513.4 |
631.9 |
622.5 |
|
Inventories - Finished Goods |
30.6 |
33.5 |
23.5 |
32.6 |
34.2 |
|
Inventories - Work In Progress |
193.1 |
163.0 |
81.3 |
250.1 |
430.0 |
|
Inventories - Raw Materials |
92.2 |
80.5 |
67.7 |
73.8 |
73.5 |
|
Total Inventory |
315.9 |
277.0 |
172.5 |
356.4 |
537.6 |
|
Deferred Income Tax - Current Asset |
19.6 |
25.0 |
22.4 |
37.0 |
43.2 |
|
Other Current Assets |
50.5 |
39.8 |
127.5 |
127.7 |
138.0 |
|
Other Current Assets, Total |
70.1 |
64.8 |
149.9 |
164.7 |
181.2 |
|
Total Current Assets |
1,577.2 |
1,293.6 |
1,169.2 |
1,439.4 |
1,660.2 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
369.4 |
381.0 |
354.1 |
348.2 |
393.1 |
|
Goodwill, Net |
27.4 |
26.9 |
13.0 |
11.1 |
17.2 |
|
Intangibles, Net |
31.8 |
34.0 |
32.3 |
30.3 |
20.0 |
|
LT Investment - Affiliate Companies |
3.8 |
2.6 |
- |
- |
- |
|
LT Investments - Other |
121.7 |
107.3 |
90.4 |
52.6 |
44.4 |
|
Long Term Investments |
125.5 |
109.9 |
90.4 |
52.6 |
44.4 |
|
Note Receivable - Long Term |
4.5 |
5.4 |
5.0 |
4.2 |
4.2 |
|
Deferred Income Tax - Long Term Asset |
63.9 |
70.0 |
49.9 |
29.4 |
48.7 |
|
Other Long Term Assets |
46.4 |
50.6 |
56.5 |
56.4 |
46.3 |
|
Other Long Term Assets, Total |
110.4 |
120.6 |
106.4 |
85.7 |
95.0 |
|
Total Assets |
2,246.1 |
1,971.3 |
1,770.4 |
1,971.4 |
2,234.2 |
|
|
|
|
|
|
|
|
Accounts Payable |
401.4 |
312.2 |
232.3 |
277.8 |
422.3 |
|
Accrued Expenses |
- |
- |
0.0 |
0.2 |
0.8 |
|
Notes Payable/Short Term Debt |
168.2 |
23.5 |
35.6 |
47.2 |
23.2 |
|
Current Portion - Long Term Debt/Capital Leases |
48.6 |
10.6 |
65.1 |
114.5 |
80.2 |
|
Customer Advances |
- |
- |
37.2 |
88.4 |
223.9 |
|
Income Taxes Payable |
9.5 |
9.5 |
6.1 |
18.0 |
38.1 |
|
Deferred Income Tax - Current Liability |
0.1 |
0.1 |
0.2 |
0.6 |
0.6 |
|
Other Current Liabilities |
197.6 |
142.5 |
83.6 |
132.6 |
219.7 |
|
Other Current liabilities, Total |
207.2 |
152.1 |
127.0 |
239.5 |
482.3 |
|
Total Current Liabilities |
825.4 |
498.4 |
460.0 |
679.2 |
1,008.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
402.4 |
459.5 |
384.7 |
400.0 |
233.7 |
|
Capital Lease Obligations |
- |
- |
1.7 |
2.1 |
0.0 |
|
Total Long Term Debt |
402.4 |
459.5 |
386.4 |
402.1 |
233.7 |
|
Total Debt |
619.2 |
493.6 |
487.1 |
563.8 |
337.1 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
12.2 |
14.3 |
14.4 |
11.0 |
22.9 |
|
Deferred Income Tax |
12.2 |
14.3 |
14.4 |
11.0 |
22.9 |
|
Minority Interest |
23.7 |
25.2 |
21.9 |
33.0 |
42.1 |
|
Pension Benefits - Underfunded |
40.3 |
24.3 |
18.4 |
15.2 |
28.2 |
|
Other Long Term Liabilities |
35.9 |
37.2 |
21.2 |
25.5 |
49.3 |
|
Other Liabilities, Total |
76.2 |
61.5 |
39.5 |
40.7 |
77.5 |
|
Total Liabilities |
1,339.9 |
1,058.8 |
922.2 |
1,166.0 |
1,385.1 |
|
|
|
|
|
|
|
|
Common Stock |
97.4 |
96.8 |
85.9 |
81.2 |
80.6 |
|
Common Stock |
97.4 |
96.8 |
85.9 |
81.2 |
80.6 |
|
Additional Paid-In Capital |
109.6 |
108.9 |
96.6 |
91.4 |
90.7 |
|
Retained Earnings (Accumulated Deficit) |
817.9 |
818.3 |
740.7 |
719.6 |
669.0 |
|
Treasury Stock - Common |
-29.4 |
-29.2 |
-25.8 |
-24.3 |
-2.9 |
|
Unrealized Gain (Loss) |
3.1 |
-6.2 |
-0.1 |
-4.2 |
1.5 |
|
Translation Adjustment |
-92.4 |
-76.2 |
-49.1 |
-58.3 |
10.2 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Equity, Total |
-92.4 |
-76.2 |
-49.1 |
-58.3 |
10.2 |
|
Total Equity |
906.2 |
912.5 |
848.2 |
805.4 |
849.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,246.1 |
1,971.3 |
1,770.4 |
1,971.4 |
2,234.2 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
110.7 |
110.7 |
110.7 |
110.7 |
113.2 |
|
Total Common Shares Outstanding |
110.7 |
110.7 |
110.7 |
110.7 |
113.2 |
|
Treasury Shares - Common Stock Primary Issue |
3.0 |
3.0 |
3.0 |
3.0 |
0.5 |
|
Employees |
5,617 |
5,209 |
5,395 |
5,660 |
5,663 |
|
Number of Common Shareholders |
8,594 |
8,061 |
8,135 |
8,507 |
7,418 |
|
Deferred Revenue - Current |
- |
- |
37.2 |
88.4 |
223.9 |
|
Total Long Term Debt, Supplemental |
474.8 |
470.1 |
449.2 |
513.9 |
313.9 |
|
Long Term Debt Maturing within 1 Year |
72.4 |
10.6 |
64.5 |
113.9 |
80.2 |
|
Long Term Debt Maturing in Year 2 |
363.0 |
70.7 |
9.0 |
81.3 |
113.2 |
|
Long Term Debt Maturing in Year 3 |
0.9 |
350.7 |
62.8 |
8.6 |
80.4 |
|
Long Term Debt Maturing in Year 4 |
37.1 |
0.8 |
311.2 |
41.1 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
1.4 |
37.0 |
0.8 |
268.4 |
40.2 |
|
Long Term Debt Maturing in 2-3 Years |
363.9 |
421.5 |
71.8 |
89.9 |
193.5 |
|
Long Term Debt Maturing in 4-5 Years |
38.4 |
37.8 |
311.9 |
309.4 |
40.2 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.2 |
0.9 |
0.7 |
0.0 |
|
Total Capital Leases, Supplemental |
12.0 |
12.3 |
2.3 |
2.7 |
- |
|
Capital Lease Payments Due in Year 1 |
1.8 |
1.7 |
0.6 |
0.6 |
- |
|
Capital Lease Payments Due in Year 2 |
1.7 |
1.5 |
0.4 |
0.5 |
- |
|
Capital Lease Payments Due in Year 3 |
1.7 |
4.6 |
0.2 |
0.4 |
- |
|
Capital Lease Payments Due in Year 4 |
1.6 |
0.8 |
0.2 |
0.2 |
- |
|
Capital Lease Payments Due in Year 5 |
1.4 |
2.9 |
0.2 |
0.2 |
- |
|
Capital Lease Payments Due in 2-3 Years |
3.4 |
6.1 |
0.7 |
0.9 |
- |
|
Capital Lease Payments Due in 4-5 Years |
2.9 |
3.7 |
0.4 |
0.4 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
3.8 |
0.8 |
0.7 |
0.8 |
- |
|
Pension Obligation - Domestic |
534.6 |
481.2 |
432.1 |
383.0 |
210.4 |
|
Plan Assets - Domestic |
379.6 |
357.3 |
325.4 |
274.7 |
158.7 |
|
Funded Status - Domestic |
-155.0 |
-123.9 |
-106.6 |
-108.3 |
-51.7 |
|
Total Funded Status |
-155.0 |
-123.9 |
-106.6 |
-108.3 |
-51.7 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
1.00% |
1.00% |
0.00% |
5.00% |
5.00% |
|
Prepaid Benefits - Domestic |
3.7 |
7.8 |
12.3 |
18.1 |
9.2 |
|
Accrued Liabilities - Domestic |
-40.3 |
-24.3 |
-18.3 |
-14.4 |
-27.5 |
|
Other Assets, Net - Domestic |
0.0 |
107.4 |
100.6 |
112.0 |
33.5 |
|
Net Assets Recognized on Balance Sheet |
-36.6 |
90.9 |
94.6 |
115.8 |
15.2 |
|
Total Plan Obligations |
534.6 |
481.2 |
432.1 |
383.0 |
210.4 |
|
Total Plan Assets |
379.6 |
357.3 |
325.4 |
274.7 |
158.7 |
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 |
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
39.6 |
8.2 |
9.3 |
138.9 |
180.2 |
|
Depreciation |
45.7 |
41.7 |
39.6 |
39.1 |
29.8 |
|
Depreciation/Depletion |
45.7 |
41.7 |
39.6 |
39.1 |
29.8 |
|
Amortization of Acquisition Costs |
3.6 |
2.1 |
0.8 |
1.3 |
1.4 |
|
Amortization |
3.6 |
2.1 |
0.8 |
1.3 |
1.4 |
|
Unusual Items |
10.7 |
7.5 |
-6.5 |
4.3 |
-0.7 |
|
Other Non-Cash Items |
6.6 |
5.9 |
6.9 |
4.7 |
2.7 |
|
Non-Cash Items |
17.3 |
13.4 |
0.3 |
9.0 |
2.0 |
|
Accounts Receivable |
-265.6 |
-6.9 |
159.4 |
-44.9 |
34.5 |
|
Inventories |
23.1 |
-17.1 |
207.4 |
168.4 |
11.8 |
|
Accounts Payable |
85.6 |
58.3 |
-66.7 |
-100.7 |
-67.5 |
|
Other Liabilities |
27.5 |
-5.7 |
-54.9 |
-150.9 |
87.8 |
|
Other Operating Cash Flow |
-42.7 |
39.2 |
-70.1 |
-144.0 |
-91.8 |
|
Changes in Working Capital |
-172.0 |
67.7 |
175.1 |
-272.0 |
-25.2 |
|
Cash from Operating Activities |
-65.7 |
133.2 |
225.1 |
-83.7 |
188.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-29.0 |
-18.6 |
-24.1 |
-49.1 |
-33.8 |
|
Capital Expenditures |
-29.0 |
-18.6 |
-24.1 |
-49.1 |
-33.8 |
|
Acquisition of Business |
-10.6 |
-9.3 |
-2.2 |
0.0 |
-0.9 |
|
Sale of Fixed Assets |
0.7 |
4.4 |
1.4 |
0.8 |
0.0 |
|
Sale/Maturity of Investment |
0.8 |
8.3 |
3.7 |
3.2 |
14.0 |
|
Purchase of Investments |
-13.1 |
-27.0 |
-59.7 |
-23.7 |
-37.0 |
|
Other Investing Cash Flow |
0.1 |
0.0 |
2.2 |
0.2 |
2.1 |
|
Other Investing Cash Flow Items, Total |
-22.1 |
-23.6 |
-54.5 |
-19.5 |
-21.7 |
|
Cash from Investing Activities |
-51.2 |
-42.2 |
-78.6 |
-68.7 |
-55.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-2.5 |
-2.7 |
-2.1 |
-11.1 |
-1.3 |
|
Financing Cash Flow Items |
-2.5 |
-2.7 |
-2.1 |
-11.1 |
-1.3 |
|
Cash Dividends Paid - Common |
-21.0 |
-19.3 |
-30.9 |
-29.0 |
-24.7 |
|
Total Cash Dividends Paid |
-21.0 |
-19.3 |
-30.9 |
-29.0 |
-24.7 |
|
Sale/Issuance of
Common |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Repurchase/Retirement
of Common |
0.0 |
-0.1 |
-0.1 |
-21.2 |
-0.4 |
|
Common Stock, Net |
0.0 |
-0.1 |
-0.1 |
-21.1 |
-0.4 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
-0.1 |
-0.1 |
-21.1 |
-0.4 |
|
Short Term Debt, Net |
118.5 |
-13.2 |
-15.2 |
28.2 |
-1.2 |
|
Long Term Debt Issued |
14.0 |
35.3 |
47.5 |
273.4 |
61.0 |
|
Long Term Debt
Reduction |
-11.4 |
-70.6 |
-121.0 |
-79.4 |
-64.4 |
|
Long Term Debt, Net |
2.6 |
-35.3 |
-73.5 |
194.0 |
-3.4 |
|
Issuance (Retirement) of Debt, Net |
121.2 |
-48.5 |
-88.7 |
222.2 |
-4.5 |
|
Cash from Financing Activities |
97.6 |
-70.6 |
-121.8 |
161.1 |
-30.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-9.1 |
-13.7 |
9.8 |
-41.7 |
-3.4 |
|
Net Change in Cash |
-28.3 |
6.7 |
34.5 |
-33.0 |
98.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
401.1 |
362.9 |
300.1 |
310.6 |
174.7 |
|
Net Cash - Ending Balance |
372.8 |
369.6 |
334.6 |
277.7 |
273.1 |
|
Cash Interest Paid |
10.9 |
9.4 |
10.7 |
7.5 |
3.9 |
|
Cash Taxes Paid |
14.9 |
-4.0 |
37.3 |
63.4 |
59.3 |
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 |
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
2,508.2 |
1,858.6 |
1,659.2 |
2,410.1 |
2,026.4 |
|
Total Revenue |
2,508.2 |
1,858.6 |
1,659.2 |
2,410.1 |
2,026.4 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Total |
2,096.0 |
1,536.2 |
1,379.3 |
1,944.9 |
1,594.5 |
|
Selling Generaland Administrative Expens |
17.7 |
- |
- |
- |
- |
|
Other Selling/General/Admin. Expense |
32.6 |
- |
- |
- |
- |
|
Other Selling/General/Admin. Expense |
9.3 |
- |
- |
- |
- |
|
Sales commission expenses-S |
9.5 |
10.1 |
1.8 |
7.7 |
6.7 |
|
Advertisement-S |
1.7 |
1.3 |
1.2 |
4.5 |
2.1 |
|
salaries |
79.5 |
- |
- |
- |
- |
|
salaries exp |
65.2 |
- |
- |
- |
- |
|
Payrolls & Bonuses-S |
- |
64.9 |
59.0 |
69.2 |
55.9 |
|
Prov. for retire. benefits reserve-S |
9.0 |
5.8 |
5.7 |
2.1 |
0.0 |
|
Welfare expenses-S |
16.2 |
13.7 |
11.4 |
12.1 |
9.8 |
|
Traveling exp.-S |
- |
15.3 |
12.1 |
15.5 |
13.5 |
|
Rental Expense-S |
7.4 |
6.5 |
6.0 |
6.1 |
5.4 |
|
Depreciation-S |
2.9 |
2.4 |
2.5 |
2.0 |
1.1 |
|
Consignment of business activities-S |
9.7 |
10.4 |
8.9 |
11.0 |
- |
|
Other selling |
- |
28.4 |
27.1 |
33.7 |
33.7 |
|
Director's remuneration-G |
11.3 |
9.3 |
9.4 |
12.0 |
11.1 |
|
Payrolls & Bonuses-G |
- |
52.3 |
47.1 |
49.9 |
40.0 |
|
Prov. for retire. benefits reserve-G |
10.9 |
7.5 |
11.8 |
-1.2 |
0.0 |
|
Welfare expenses-G |
8.7 |
5.3 |
2.7 |
4.9 |
4.6 |
|
reseach exp |
22.2 |
- |
- |
- |
- |
|
Reserach&development-G |
- |
19.1 |
21.2 |
25.6 |
21.9 |
|
Depreciation-G |
17.6 |
15.4 |
12.6 |
11.6 |
8.3 |
|
Consignment of business activities-G |
27.3 |
24.2 |
25.9 |
26.5 |
- |
|
Other General |
- |
10.3 |
12.6 |
22.6 |
36.9 |
|
SP Rev.Allow.Doubt.Acct |
0.0 |
-0.5 |
-2.3 |
-0.3 |
0.0 |
|
SP Liquidation of Negative goodwill |
- |
0.0 |
-7.3 |
0.0 |
- |
|
SP Other SP Gain |
0.0 |
0.0 |
-1.8 |
-0.1 |
-0.3 |
|
Loss on retirement of noncurrent assets |
1.3 |
0.3 |
0.3 |
4.2 |
1.3 |
|
SP L on adjust for changes of account |
0.0 |
5.8 |
0.0 |
- |
- |
|
Loss On Valuation Of Investment Securiti |
9.1 |
- |
- |
- |
- |
|
SP L.Val.Inv.Secs. |
- |
0.0 |
0.0 |
4.3 |
0.9 |
|
SP Special Retire.Bene. |
- |
0.1 |
0.4 |
0.0 |
- |
|
SP Assets impairment losses |
- |
- |
0.0 |
1.2 |
0.0 |
|
SP L on prior year adjustment |
- |
- |
- |
0.0 |
0.5 |
|
SP Subsidy refunding loss |
- |
0.0 |
0.2 |
0.0 |
- |
|
SP Other SP Loss |
0.6 |
1.3 |
0.2 |
0.5 |
0.2 |
|
NOP Amort. of Negative Goodwill |
-0.7 |
-0.7 |
-1.1 |
-1.0 |
0.0 |
|
Total Operating Expense |
2,465.1 |
1,844.7 |
1,646.8 |
2,269.5 |
1,848.0 |
|
|
|
|
|
|
|
|
NOP Interest Income |
1.3 |
1.4 |
2.2 |
2.5 |
2.8 |
|
NOP Dividend Income |
3.0 |
2.1 |
0.9 |
0.9 |
0.8 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Foreign taxes refund |
- |
- |
0.0 |
0.0 |
1.4 |
|
NOP Anonymous associ. inv't income |
- |
- |
- |
0.0 |
1.0 |
|
Land and house rent received |
2.9 |
2.4 |
2.0 |
1.5 |
0.0 |
|
NOP Non-Ops.Income |
3.1 |
5.2 |
5.9 |
3.8 |
3.5 |
|
NOP Interest Expense |
-10.9 |
-9.4 |
-10.0 |
-7.9 |
-3.8 |
|
NOP Exchange Loss |
-0.9 |
-4.9 |
-3.0 |
-1.4 |
-3.6 |
|
NOP Amort. of value-added taxes |
- |
- |
- |
0.0 |
-1.2 |
|
NOP Non-Ops.Exp. |
-1.7 |
-1.9 |
-1.5 |
-1.8 |
-1.3 |
|
SP G.Sale Fixed Asset |
0.0 |
0.1 |
0.8 |
0.7 |
0.2 |
|
SP G.Sale Inv.Secs. |
- |
- |
0.0 |
0.0 |
2.1 |
|
SP G. change in equity |
- |
- |
- |
- |
0.0 |
|
SP Sales Loss-Fixed Assets |
-0.3 |
-0.6 |
-0.5 |
-0.1 |
0.0 |
|
Net Income Before Taxes |
39.6 |
8.2 |
9.3 |
138.9 |
180.2 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
23.3 |
2.3 |
-2.1 |
62.9 |
71.0 |
|
Net Income After Taxes |
16.3 |
5.9 |
11.4 |
76.0 |
109.1 |
|
|
|
|
|
|
|
|
Minority interests in income |
-0.8 |
- |
- |
- |
- |
|
Minority Interest |
- |
-2.7 |
-0.4 |
2.2 |
-5.1 |
|
Net Income Before Extra. Items |
15.5 |
3.2 |
11.0 |
78.1 |
104.1 |
|
Net Income |
15.5 |
3.2 |
11.0 |
78.1 |
104.1 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Earning Adjust. |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Bonus to Director |
- |
- |
0.0 |
0.0 |
- |
|
Income Available to Com Excl ExtraOrd |
15.5 |
3.1 |
11.0 |
78.1 |
104.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
15.5 |
3.1 |
11.0 |
78.1 |
104.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
110.7 |
110.7 |
110.7 |
111.7 |
113.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.14 |
0.03 |
0.10 |
0.70 |
0.92 |
|
Basic EPS Including ExtraOrdinary Item |
0.14 |
0.03 |
0.10 |
0.70 |
0.92 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
15.5 |
3.1 |
11.0 |
78.1 |
104.0 |
|
Diluted Weighted Average Shares |
110.7 |
111.8 |
112.1 |
113.6 |
115.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.14 |
0.03 |
0.10 |
0.69 |
0.90 |
|
Diluted EPS Including ExtraOrd Items |
0.14 |
0.03 |
0.10 |
0.69 |
0.90 |
|
DPS-Common Stock |
0.19 |
0.18 |
0.22 |
0.26 |
0.23 |
|
Gross Dividends - Common Stock |
21.0 |
13.5 |
23.8 |
28.6 |
25.7 |
|
Normalized Income Before Taxes |
50.2 |
17.8 |
-0.6 |
149.4 |
183.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
30.0 |
4.4 |
-5.8 |
67.1 |
72.0 |
|
Normalized Income After Taxes |
20.2 |
13.3 |
5.2 |
82.3 |
112.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.4 |
10.6 |
4.8 |
84.5 |
106.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.18 |
0.10 |
0.04 |
0.76 |
0.94 |
|
Diluted Normalized EPS |
0.18 |
0.09 |
0.04 |
0.74 |
0.93 |
|
Advertisement |
1.7 |
1.3 |
1.2 |
4.5 |
2.1 |
|
Total Search And Development Expense |
59.9 |
- |
- |
- |
- |
|
R & D expenses (SGA) |
- |
19.1 |
21.2 |
25.6 |
21.9 |
|
Research & Development(SGA& COGS) |
- |
- |
- |
- |
60.9 |
|
Research & Development Exp,(COGS) |
- |
55.2 |
44.2 |
54.2 |
- |
|
Rental Expense |
7.4 |
6.5 |
6.0 |
6.1 |
5.4 |
|
Interest Expense |
10.9 |
9.4 |
10.0 |
7.9 |
3.8 |
|
Amort. of goodwill |
- |
2.8 |
2.0 |
2.3 |
1.4 |
|
Amort. of Negative Goodwill |
-0.7 |
-0.7 |
-1.1 |
-1.0 |
0.0 |
|
Selling General And Administrative Expen |
2.9 |
- |
- |
- |
- |
|
Selling General And Administrative Expen |
17.6 |
- |
- |
- |
- |
|
Depreciation |
- |
41.7 |
39.6 |
39.1 |
29.8 |
|
Income taxes-current |
19.5 |
- |
- |
- |
- |
|
Current Tax - Total |
19.5 |
- |
- |
- |
- |
|
Income taxes-deferred |
3.8 |
- |
- |
- |
- |
|
Deferred Tax - Total |
3.8 |
- |
- |
- |
- |
|
Income Tax - Total |
23.3 |
- |
- |
- |
- |
|
Reported operating profit |
53.4 |
20.1 |
0.9 |
149.4 |
180.9 |
|
Reported ordinary profit |
50.9 |
15.7 |
-1.5 |
148.1 |
180.5 |
|
Service cost |
14.8 |
12.6 |
10.7 |
11.0 |
8.8 |
|
Interest cost |
17.6 |
17.5 |
17.1 |
16.6 |
3.1 |
|
Expected return on plan asset |
-16.4 |
-15.5 |
-12.5 |
-21.2 |
-5.3 |
|
Actuarial G/L |
32.8 |
17.1 |
18.4 |
1.6 |
-5.2 |
|
Prior service cost |
0.0 |
0.0 |
-3.0 |
-4.2 |
-2.5 |
|
Domestic Pension Plan Expense |
48.8 |
31.7 |
30.6 |
3.9 |
-1.0 |
|
Defined Contribution Expense |
6.8 |
- |
- |
- |
- |
|
Defined Contribution Expenses |
- |
5.8 |
5.1 |
5.0 |
3.0 |
|
Total Pension Expense |
55.6 |
37.6 |
35.6 |
8.9 |
2.0 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
2.00% |
- |
- |
- |
- |
|
Discount Rate |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
1.00% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
1.00% |
0.00% |
5.00% |
5.00% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
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 |
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
359.0 |
383.1 |
333.4 |
286.5 |
319.0 |
|
Notes receivable, accounts receivable fr |
833.6 |
570.3 |
514.6 |
635.0 |
625.3 |
|
Costs and estimated earnings in excess o |
127.2 |
- |
- |
- |
- |
|
Inventories - construc.-in-process |
- |
70.4 |
- |
- |
- |
|
Merchandise & Product |
30.6 |
33.5 |
23.5 |
32.6 |
34.2 |
|
Work in Process |
65.9 |
92.7 |
81.3 |
250.1 |
430.0 |
|
Raw Materials & Supplies |
92.2 |
80.5 |
67.7 |
73.8 |
73.5 |
|
Dfrd.Income Tax |
19.6 |
25.0 |
22.4 |
37.0 |
43.2 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other current assets |
50.5 |
39.8 |
127.5 |
127.7 |
138.0 |
|
Allow.Doubt.Acct |
-1.4 |
-1.6 |
-1.1 |
-3.1 |
-2.8 |
|
Total Current Assets |
1,577.2 |
1,293.6 |
1,169.2 |
1,439.4 |
1,660.2 |
|
|
|
|
|
|
|
|
PPE net |
0.0 |
- |
- |
- |
- |
|
Buildings and structures, net |
172.9 |
183.2 |
175.8 |
172.7 |
203.8 |
|
Machinery, equipment and vehicles, net |
30.5 |
34.1 |
38.2 |
40.0 |
44.6 |
|
Tools, furniture and fixtures, net |
9.5 |
10.2 |
10.7 |
10.7 |
13.1 |
|
Land |
140.8 |
138.5 |
124.1 |
116.7 |
120.6 |
|
Lease Assets |
- |
- |
2.6 |
3.0 |
0.0 |
|
Constr.in Progr. |
- |
- |
0.8 |
4.0 |
9.4 |
|
Other, net |
15.8 |
15.0 |
1.9 |
1.2 |
1.6 |
|
Other |
3.4 |
- |
- |
- |
- |
|
Other Total Intangible Assets, Net |
0.0 |
- |
- |
- |
- |
|
Software |
28.3 |
31.7 |
20.9 |
19.9 |
13.5 |
|
Goodwill |
27.4 |
26.9 |
13.0 |
11.1 |
17.2 |
|
Other Intangible |
- |
2.2 |
11.5 |
10.4 |
6.4 |
|
Other LT invetments |
121.7 |
- |
- |
- |
- |
|
Investment Secs. |
- |
107.3 |
90.4 |
52.6 |
44.4 |
|
Invt Secs Noncons, Asc, Affd Cos |
3.8 |
- |
- |
- |
- |
|
Inv. sec-subs&affi. |
- |
2.6 |
- |
- |
- |
|
Long-term loans receivable |
4.5 |
5.4 |
5.0 |
4.2 |
4.2 |
|
Deferred tax assets |
63.9 |
70.0 |
49.9 |
29.4 |
48.7 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other |
48.8 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Asset |
- |
53.7 |
59.5 |
59.9 |
49.6 |
|
Allow.Doubt.Acct |
-2.4 |
-3.1 |
-3.1 |
-3.5 |
-3.3 |
|
Adjustment |
- |
- |
0.0 |
- |
- |
|
Total Assets |
2,246.1 |
1,971.3 |
1,770.4 |
1,971.4 |
2,234.2 |
|
|
|
|
|
|
|
|
Notes payable, accounts payable for cons |
401.4 |
312.2 |
232.3 |
277.8 |
422.3 |
|
Short-term loans payable |
168.2 |
23.5 |
35.6 |
47.2 |
23.2 |
|
Current portion of bonds |
48.6 |
- |
- |
- |
- |
|
LT borrowings (current) |
- |
10.6 |
32.3 |
113.9 |
40.1 |
|
Bonds w/stock warrants (current) |
- |
0.0 |
32.2 |
0.0 |
40.2 |
|
Current lease obligations |
- |
- |
0.6 |
0.6 |
0.0 |
|
Income Tax Pybl. |
9.5 |
9.5 |
6.1 |
18.0 |
38.1 |
|
Dfrd.Tax Liab. |
0.1 |
0.1 |
0.2 |
0.6 |
0.6 |
|
Advances Received |
- |
- |
37.2 |
88.4 |
223.9 |
|
Reserve for directors' bonuses |
- |
- |
0.0 |
0.2 |
0.8 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Reserve for construction losses |
9.8 |
8.1 |
5.7 |
0.8 |
0.0 |
|
Other current liabilities |
187.8 |
134.4 |
77.9 |
131.8 |
219.7 |
|
Total Current Liabilities |
825.4 |
498.4 |
460.0 |
679.2 |
1,008.8 |
|
|
|
|
|
|
|
|
Corp.Bond |
72.8 |
120.7 |
107.0 |
101.2 |
40.2 |
|
Bond w/ Stock Subscription |
- |
- |
- |
50.6 |
50.2 |
|
Long-term loans payable |
329.5 |
338.9 |
277.7 |
248.1 |
143.3 |
|
Lease obligation |
- |
- |
1.7 |
2.1 |
0.0 |
|
Total Long Term Debt |
402.4 |
459.5 |
386.4 |
402.1 |
233.7 |
|
|
|
|
|
|
|
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
LT Other Payable |
- |
- |
6.5 |
5.7 |
15.8 |
|
Dfrd.Income Tax |
12.2 |
14.3 |
14.4 |
11.0 |
22.9 |
|
Res.Accru.Retire |
40.3 |
24.3 |
18.3 |
14.4 |
27.5 |
|
Res.Dir.'s Retire. |
- |
- |
0.0 |
0.8 |
0.8 |
|
Negative goodwill |
4.4 |
5.1 |
5.1 |
9.2 |
10.6 |
|
Other Fixed Liab. |
31.5 |
32.1 |
9.5 |
10.7 |
22.8 |
|
Minority Int. |
23.7 |
25.2 |
21.9 |
33.0 |
42.1 |
|
Total Liabilities |
1,339.9 |
1,058.8 |
922.2 |
1,166.0 |
1,385.1 |
|
|
|
|
|
|
|
|
Rounding adjustment Equity |
0.0 |
- |
- |
- |
- |
|
Common Stock |
97.4 |
96.8 |
85.9 |
81.2 |
80.6 |
|
Total capital surpluses |
109.6 |
108.9 |
96.6 |
91.4 |
90.7 |
|
Total retained earnings |
817.9 |
818.3 |
740.7 |
719.6 |
669.0 |
|
Treas.Stock |
-29.4 |
-29.2 |
-25.8 |
-24.3 |
-2.9 |
|
Valuation difference on available-for-sa |
3.0 |
-5.8 |
-0.1 |
-3.9 |
1.3 |
|
Deferred hedge |
0.1 |
-0.4 |
-0.1 |
-0.3 |
0.2 |
|
Transl.Adjust. |
-92.4 |
-76.2 |
-49.1 |
-58.3 |
10.2 |
|
Total Equity |
906.2 |
912.5 |
848.2 |
805.4 |
849.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,246.1 |
1,971.3 |
1,770.4 |
1,971.4 |
2,234.2 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
110.7 |
110.7 |
110.7 |
110.7 |
113.2 |
|
Total Common Shares Outstanding |
110.7 |
110.7 |
110.7 |
110.7 |
113.2 |
|
T/S-Common Stock |
3.0 |
3.0 |
3.0 |
3.0 |
0.5 |
|
Deferred Revenue - Current |
- |
- |
37.2 |
88.4 |
223.9 |
|
Full-Time Employees |
5,617 |
5,209 |
5,395 |
5,660 |
5,663 |
|
Total Number of Shareholders |
8,594 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
8,061 |
8,135 |
8,507 |
7,418 |
|
Within One Year |
48.6 |
- |
- |
- |
- |
|
LT Debts&bonds <1Yr. |
23.8 |
10.6 |
64.5 |
113.9 |
80.2 |
|
Over One Year And Within Two Years |
72.8 |
- |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
290.2 |
- |
- |
- |
- |
|
LT Debts&bonds <2Yr. |
- |
70.7 |
9.0 |
81.3 |
113.2 |
|
Over Two Years And Within Three Years |
0.0 |
- |
- |
- |
- |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
0.9 |
- |
- |
- |
- |
|
LT Debts&bonds <3Yr. |
- |
350.7 |
62.8 |
8.6 |
80.4 |
|
Over Three Years And Within Four Years |
0.0 |
- |
- |
- |
- |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
37.1 |
- |
- |
- |
- |
|
LT Debts&bonds <4Yr. |
- |
0.8 |
311.2 |
41.1 |
0.0 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
1.4 |
- |
- |
- |
- |
|
LT Debts&bonds <5Yr. |
- |
37.0 |
0.8 |
268.4 |
40.2 |
|
Other LT Debt |
0.0 |
- |
- |
- |
- |
|
LT Debts&bonds>5Yr. |
- |
0.2 |
0.9 |
0.7 |
- |
|
Total Long Term Debt, Supplemental |
474.8 |
470.1 |
449.2 |
513.9 |
313.9 |
|
Capital Lease Payments Due within 1 Year |
1.8 |
1.7 |
0.6 |
0.6 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
1.7 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
1.5 |
0.4 |
0.5 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
1.7 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
- |
4.6 |
0.2 |
0.4 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
1.6 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
0.8 |
0.2 |
0.2 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
1.4 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
2.9 |
0.2 |
0.2 |
- |
|
Other Capital Lease |
3.8 |
- |
- |
- |
- |
|
Capital Lease - Remaining Maturities |
- |
0.8 |
0.7 |
0.8 |
- |
|
Total Capital Leases |
12.0 |
12.3 |
2.3 |
2.7 |
- |
|
Pension obligation |
534.6 |
481.2 |
432.1 |
383.0 |
210.4 |
|
Fair value of plan asset |
379.6 |
357.3 |
325.4 |
274.7 |
158.7 |
|
Funded status |
-155.0 |
-123.9 |
-106.6 |
-108.3 |
-51.7 |
|
Total Funded Status |
-155.0 |
-123.9 |
-106.6 |
-108.3 |
-51.7 |
|
Discount rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected rate of return |
1.00% |
1.00% |
0.00% |
5.00% |
5.00% |
|
Retirement Benefit Expenses Unrecognized |
0.0 |
- |
- |
- |
- |
|
Unrecog. actuarial G/L |
- |
107.4 |
100.6 |
114.9 |
39.2 |
|
Unrecog. prior service cost |
- |
0.0 |
0.0 |
-2.9 |
-5.7 |
|
Prepaid pension |
3.7 |
7.8 |
12.3 |
18.1 |
9.2 |
|
Accrued pension benefit |
-40.3 |
-24.3 |
-18.3 |
-14.4 |
-27.5 |
|
Net Assets Recognized on Balance Sheet |
-36.6 |
90.9 |
94.6 |
115.8 |
15.2 |
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 |
Arata Auditing
Firm |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Income Before Tax |
39.6 |
8.2 |
9.3 |
138.9 |
180.2 |
|
Depreciation |
45.7 |
41.7 |
39.6 |
39.1 |
29.8 |
|
Loss (gain) on valuation of investment s |
9.1 |
- |
- |
- |
- |
|
L on adjustment for changes of account |
0.0 |
5.8 |
0.0 |
- |
- |
|
Amort. of goodwill |
4.3 |
2.8 |
2.0 |
2.3 |
1.4 |
|
Amort. of Negative Goodwill |
-0.7 |
-0.7 |
-1.1 |
-1.0 |
0.0 |
|
Liquidation of Negative goodwill |
- |
0.0 |
-7.3 |
0.0 |
- |
|
Change in equity |
- |
- |
- |
- |
0.0 |
|
Int.&Div.Income |
-4.3 |
-3.5 |
-3.1 |
-3.4 |
-3.5 |
|
Interest Expense |
10.9 |
9.4 |
10.0 |
7.9 |
3.8 |
|
Loss (gain) on sales and retirement of n |
1.6 |
0.9 |
0.8 |
4.3 |
1.3 |
|
L.Val.Inv.Secs. |
- |
0.8 |
- |
- |
- |
|
G/L Sale Inv.Secs. |
- |
- |
0.0 |
0.0 |
-2.0 |
|
Decrease (increase) in notes and account |
-265.6 |
-6.9 |
159.4 |
-44.9 |
34.5 |
|
Decrease (increase) in inventories |
23.1 |
-17.1 |
207.4 |
168.4 |
11.8 |
|
Increase (decrease) in notes and account |
85.6 |
58.3 |
-66.7 |
-100.7 |
-67.5 |
|
Increase (decrease) in advances received |
27.5 |
-5.7 |
-54.9 |
-150.9 |
87.8 |
|
Income taxes (paid) refund |
-14.9 |
- |
- |
- |
- |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Other, net |
-24.4 |
36.9 |
-27.3 |
-79.0 |
-35.2 |
|
Int.&Div.Rcvd. |
4.2 |
3.4 |
2.7 |
3.3 |
3.5 |
|
Interest Paid |
-10.9 |
-9.4 |
-10.7 |
-7.5 |
-3.9 |
|
Income Tax Paid |
- |
4.0 |
-37.3 |
-63.4 |
-59.3 |
|
Other, net |
3.2 |
4.3 |
2.4 |
2.6 |
3.1 |
|
Consolidation Change |
- |
- |
- |
0.2 |
2.3 |
|
Cash from Operating Activities |
-65.7 |
133.2 |
225.1 |
-83.7 |
188.1 |
|
|
|
|
|
|
|
|
Time Depo. Made |
-1.7 |
-8.6 |
0.0 |
-2.6 |
-11.3 |
|
Time Depo.Matured |
0.8 |
8.3 |
3.7 |
3.1 |
11.3 |
|
Capital Expenditure |
-29.0 |
-18.6 |
-24.1 |
-49.1 |
-33.8 |
|
Sale Fixed Asset |
0.7 |
4.4 |
1.4 |
0.8 |
0.0 |
|
Purch.Inv.Secs. |
-9.1 |
-18.2 |
-48.2 |
-21.0 |
-6.2 |
|
Sale Inv.Secs. |
- |
- |
0.0 |
0.1 |
2.7 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Loans Collected |
0.0 |
0.0 |
0.0 |
0.1 |
0.2 |
|
Purch.of Affiliated Secs. |
-2.3 |
-0.2 |
-11.5 |
-0.2 |
- |
|
Purchase Of Investments In Subsidiaries |
-7.2 |
- |
- |
- |
- |
|
Purchase of subsidiaries' additioanl sha |
- |
0.0 |
- |
- |
-0.9 |
|
Transfer of Business |
-3.4 |
-9.3 |
-2.2 |
0.0 |
- |
|
Purch of Subsidiary Stock |
- |
- |
- |
- |
-19.4 |
|
Other, net |
0.0 |
0.0 |
2.2 |
0.1 |
2.0 |
|
Cash from Investing Activities |
-51.2 |
-42.2 |
-78.6 |
-68.7 |
-55.5 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
118.5 |
-13.2 |
-15.2 |
28.2 |
-1.2 |
|
Proceeds from long-term loans payable |
14.0 |
35.3 |
47.5 |
214.7 |
26.2 |
|
Repayment of long-term loans payable |
-11.4 |
-35.5 |
-121.0 |
-39.6 |
-38.1 |
|
Redemption of bonds with share option |
0.0 |
-35.1 |
0.0 |
- |
- |
|
Issue Bond |
- |
- |
0.0 |
58.7 |
34.7 |
|
Redempt.Bond |
- |
- |
0.0 |
-39.8 |
-26.2 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Minority paid in |
- |
- |
- |
- |
0.0 |
|
Sale Treasury Stock |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Purch.Treasury Stock |
0.0 |
-0.1 |
-0.1 |
-21.2 |
-0.4 |
|
Dividend Paid |
-21.0 |
-19.3 |
-30.9 |
-29.0 |
-24.7 |
|
Other, net |
-2.5 |
-2.7 |
-2.1 |
-11.1 |
-1.3 |
|
Cash from Financing Activities |
97.6 |
-70.6 |
-121.8 |
161.1 |
-30.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-9.1 |
-13.7 |
9.8 |
-41.7 |
-3.4 |
|
Net Change in Cash |
-28.3 |
6.7 |
34.5 |
-33.0 |
98.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
401.1 |
362.9 |
300.1 |
310.6 |
174.7 |
|
Net Cash - Ending Balance |
372.8 |
369.6 |
334.6 |
277.7 |
273.1 |
|
Cash Interest Paid |
10.9 |
9.4 |
10.7 |
7.5 |
3.9 |
|
Cash Taxes Paid |
14.9 |
-4.0 |
37.3 |
63.4 |
59.3 |
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.53.12 |
|
UK Pound |
1 |
Rs.85.15 |
|
Euro |
1 |
Rs.68.60 |
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.