MIRA
INFORM REPORT
|
Report Date : |
16.10.2012 |
IDENTIFICATION DETAILS
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Name : |
LASERTEC CORPORATION |
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Registered Office : |
2-10-1, Shin-yokohama, Kohoku-ku, Yokohama-Shi, 222-8552 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
13.08.1962 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
design, manufacture and sale of inspection and
measuring equipment |
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No. of Employees : |
223 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a
strong work ethic, mastery of high technology, and a comparatively small
defense allocation (1% of GDP) helped Japan develop a technologically advanced
economy. Two notable characteristics of the post-war economy were the close
interlocking structures of manufacturers, suppliers, and distributors, known as
keiretsu, and the guarantee of lifetime employment for a substantial portion of
the urban labor force. Both features are now eroding under the dual pressures
of global competition and domestic demographic change. Japan's industrial
sector is heavily dependent on imported raw materials and fuels. A tiny
agricultural sector is highly subsidized and protected, with crop yields among
the highest in the world. Usually self-sufficient in rice, Japan imports about
60% of its food on a caloric basis. Japan maintains one of the world's largest
fishing fleets and accounts for nearly 15% of the global catch. For three
decades, overall real economic growth had been spectacular - a 10% average in
the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth
slowed markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest economy
in the world after second-place China, which surpassed Japan in 2001, and
third-place India, which edged out Japan in 2011. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan
further into recession. Government stimulus spending helped the economy recover
in late 2009 and 2010, but the economy contracted again in 2011 as the massive
9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
Company name & address
Lasertec Corporation
2-10-1, Shin-yokohama, Kohoku-ku
Yokohama-Shi, 222-8552
Japan
Tel: 81-45-4787111
Fax: 81-45-4761061
Web: www.lasertec.co.jp
Synthesis
Employees: 223
Company Type: Public Independent
Traded:
Tokyo Stock Exchange: 6920
Incorporation Date:
13-Aug-1962
Auditor: Deloitte
& Touche LLP
Financials in: USD
(Millions)
Fiscal Year End:
30-Jun-2012
Reporting Currency: Japanese
Yen
Annual Sales: 157.0
1
Net Income: 22.9
Total Assets: 261.7
2
Market Value: 222.9 (05-Oct-2012)
Business Description
Lasertec Corporation is a company engaged in the design, manufacture and
sale of inspection and measuring equipment including semiconductor-related
equipment, flat panel display (FPD)-related equipment and laser microscopes, as
well as the provision of related services. Its main products consist of the
confocal scanning laser microscopes such as color confocal microscopes and
violet laser microscopes; the energy/environment related products such as
transparent object inspection systems and SiC wafer inspection/review systems;
the semiconductor inspection systems such as lithography process inspection
systems, wafer inspection/review systems, photomask inspection systems, mask
substrate inspection systems and ArF mask review stations, as well as the
liquid crystal display (LCD) inspection and repair system such as large mask
inspection system, large size photomask inspection system and color filter
repair system, among others. As of June 30, 2011, the Company had two
subsidiaries. For the nine months ended 31 March 2012, Lasertec Corporation
revenues decreased 1% to Y7.84B. Net income increased 10% to Y816.2M. Revenues
reflect a decrease in demand for the Company's products and services due to
unfavorable market conditions. Net income reflects SP L-adjust for change of
accts assets decrease from Y55.4M (expense) to Y0K, NOP Exchange Loss decrease
of 25% to Y65M (expense).
Industry
Industry Scientific and Technical
Instruments
ANZSIC 2006: 2419 - Other
Professional and Scientific Equipment Manufacturing
NACE 2002: 3320 - Manufacture
of instruments and appliances for measuring, checking, testing, navigating and
other purposes, except industrial process control equipment
NAICS 2002: 334515 -
Instrument Manufacturing for Measuring and Testing Electricity and Electrical
Signals
UK SIC 2003: 3320 - Manufacture
of instruments and appliances for measuring, checking, testing, navigating and
other purposes, except industrial process control equipment
UK SIC 2007: 2651 - Manufacture
of instruments and appliances for measuring, testing and navigation
US SIC 1987: 3825 - Instruments
for Measuring and Testing of Electricity and Electrical Signals
Key Executives
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Name |
Title |
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Osamu Okabayashi |
President, Representative Director |
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Koichi Moriizumi |
Director of 2nd Technology, Director of 3rd Sales, Director |
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Shu Uchiyama |
Chief Director of Administration, Director |
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Haruhiko Kusunose |
Vice President, Chief Director of Technology, Representative Director |
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Yaichiro Watakabe |
President |
Significant Developments
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* number of significant developments within the last 12 months
News
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Title |
Date |
|
Lasertec Corp FY Grp Net Pft Y1.80B Vs Y1.52B
Pft Yr Earlier |
13-Aug-2012 |
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Lasertec Corp Expects This FY Group Net
Profit Y2.05B |
13-Aug-2012 |
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Lasertec Corp Lifts FY Dividend Plan To
Y48.00 |
15-Jun-2012 |
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IN THE SPOTLIGHT. |
11-Jun-2012 |
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Lasertec Corp 9Mos Grp Net Pft Y816.00M Vs
Y742.00M Pft Yr Earlier |
27-Apr-2012 |
Financial Summary
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As of 30-Jun-2012 |
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.60191
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 79.39094
Corporate Overview
Location
2-10-1, Shin-yokohama, Kohoku-ku
Yokohama-Shi, 222-8552
Japan
Tel: 81-45-4787111
Fax: 81-45-4761061
Web: www.lasertec.co.jp
Quote Symbol - Exchange
6920 - Tokyo Stock
Exchange
Sales JPY(mil): 12,337.5
Assets JPY(mil): 20,774.3
Employees: 223
Fiscal Year End: 30-Jun-2012
Industry: Scientific
and Technical Instruments
Incorporation Date: 13-Aug-1962
Company Type: Public
Independent
Quoted Status: Quoted
President,
Representative Director: Osamu
Okabayashi
Company Web Links
Corporate History/Profile
Employment Opportunities
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Brand/Trade Names
Financial Data
Market Data
Shareholders
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2419 - Other Professional and Scientific Equipment Manufacturing
NACE 2002 Codes:
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
NAICS 2002 Codes:
334515 - Instrument Manufacturing for Measuring and Testing
Electricity and Electrical Signals
334516 - Analytical Laboratory Instrument Manufacturing
US SIC 1987:
3825 - Instruments for Measuring and Testing of Electricity and
Electrical Signals
3826 - Laboratory Analytical Instruments
UK SIC 2003:
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
UK SIC 2007:
2651 - Manufacture of instruments and appliances for measuring,
testing and navigation
Business Description
Lasertec
Corporation is a company engaged in the design, manufacture and sale of inspection
and measuring equipment including semiconductor-related equipment, flat panel
display (FPD)-related equipment and laser microscopes, as well as the provision
of related services. Its main products consist of the confocal scanning laser
microscopes such as color confocal microscopes and violet laser microscopes;
the energy/environment related products such as transparent object inspection
systems and SiC wafer inspection/review systems; the semiconductor inspection
systems such as lithography process inspection systems, wafer inspection/review
systems, photomask inspection systems, mask substrate inspection systems and
ArF mask review stations, as well as the liquid crystal display (LCD)
inspection and repair system such as large mask inspection system, large size
photomask inspection system and color filter repair system, among others. As of
June 30, 2011, the Company had two subsidiaries. For the nine months ended 31
March 2012, Lasertec Corporation revenues decreased 1% to Y7.84B. Net income increased
10% to Y816.2M. Revenues reflect a decrease in demand for the Company's
products and services due to unfavorable market conditions. Net income reflects
SP L-adjust for change of accts assets decrease from Y55.4M (expense) to Y0K,
NOP Exchange Loss decrease of 25% to Y65M (expense).
More Business
Descriptions
Manufacture of photomask inspection systems, laser microscopes and LCD
colour filter inspection systems
Semiconductor Device Mfr
Semiconductor and Other Electronic Component Manufacturing
Brand/Trade Names
Lasertec
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Executive report
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Board of
Directors |
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Independent Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Vice President, Chief Director of Technology, Representative Director |
Director/Board Member |
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Director of 2nd Technology, Director of 3rd Sales, Director |
Director/Board Member |
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President, Representative Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Chief Director of Administration, Director |
Director/Board Member |
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Managing Director, Deputy Chief Director of Technology, Manager of
Extremity Development Office, Director |
Director/Board Member |
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Executives |
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President, Representative Director |
President |
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President |
President |
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Managing Director, Deputy Chief Director of Technology, Manager of
Extremity Development Office, Director |
Managing Director |
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Co-Executive Officer |
Operations Executive |
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Co-Executive Officer |
Operations Executive |
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Co-Executive Officer |
Operations Executive |
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Co-Executive Officer |
Operations Executive |
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Chief Director of Administration, Director |
Administration 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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Director of 2nd Technology, Director of 3rd Sales, Director |
Sales Executive |
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Vice President, Chief Director of Technology, Representative Director |
Engineering/Technical Executive |
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Significant Developments
Lasertec Corp to Issue Year-end Dividend for FY 2012 Aug 13, 2012
Lasertec Corp announced that it has decided to issue a year-end dividend of JPY 53 per share, including a common dividend of JPY 48 per share, and a bonus dividend of JPY 5 per share, in the commemoration of its 50th anniversary of foundation, to all the shareholders of record as of June 30, 2012, effective September 27, 2012. The previous dividend forecast was JPY 48 per share, disclosed on June 15, 2012.
Lasertec Corporation Raises Year-end Dividend Outlook for FY Ending June 2012 Jun 15, 2012
Lasertec Corporation announced that it has resolved to distribute a bonus dividend in commemoration of the 50th anniversary of its foundation. Therefore, the Company amended its year-end dividend from JPY 43 per share, which was announced on August 12, 2011, to JPY 48 per share (JPY 43 per share of a common dividend and JPY 5 per share of a bonus dividend), for the fiscal year ending June 2012.
Taiwan Semiconductor Manufacturing Co., Ltd. Acquires Equipment Mar 27, 2012
Taiwan Semiconductor Manufacturing Co., Ltd. announced that it has acquired a set of equipment from LASERTEC CORPORATION for NTD 518,325,700, a set of equipment from Hermes Microvision, Inc. for NTD 555,934,600, equipment and facilities from SIEMENS AG for NTD 312,542,703 and another set of equipment and facilities from Trane Taiwan, for NTD 424,614,151.
Lasertec Corporation Files for Delisting Stock from Jasdaq Market (Standard) of OSE Mar 26, 2012
Lasertec Corporation announced that it has filed for delisting its stock from the Jasdaq Market (Standard) of the Osaka Securities Exchange (OSE), on March 26, 2012.
Lasertec Corporation Begins Trading on Tokyo Stock Exchange Second Section Mar 13, 2012
Lasertec Corporation announced that its stock has been listed on Tokyo Stock Exchange second section effective March 14, 2012.
Lasertec Corporation to Begin Trading on Tokyo Stock Exchange Second Section Mar 07, 2012
Lasertec Corporation announced that it will begin trading its shares on Tokyo Stock Exchange second section on March 14, 2012.
Lasertec Corporation Raises Consolidated Mid-year Outlook for FY 2012 Jan 23, 2012
Lasertec Corporation announced that it has raised its consolidated mid-year outlook for revenue from JPY 4,600 million to JPY 4,897 million, operating profit from JPY 450 million to JPY 734 million, ordinary profit from JPY 400 million to JPY 636 million, net profit from JPY 250 million to JPY 424 million and earning per share from JPY 22.19 to JPY 37.68, for the fiscal year ending March 2012. The Company raised the outlook due to the increased sales and the cost reduction.
Annual Income Statement
Financials in: USD (mil),
Except for share items (millions) and per share items (actual units),
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-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) |
78.601914 |
83.072254 |
91.59515 |
98.728525 |
110.286762 |
|
Auditor |
|
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
157.0 |
153.1 |
97.5 |
93.9 |
128.2 |
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Revenue |
157.0 |
153.1 |
97.5 |
93.9 |
128.2 |
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Total Revenue |
157.0 |
153.1 |
97.5 |
93.9 |
128.2 |
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Cost of Revenue |
73.6 |
87.2 |
60.3 |
67.0 |
64.6 |
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Cost of Revenue, Total |
73.6 |
87.2 |
60.3 |
67.0 |
64.6 |
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Gross Profit |
83.3 |
65.9 |
37.2 |
26.9 |
63.6 |
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Selling/General/Administrative Expense |
9.3 |
8.5 |
6.4 |
7.3 |
11.0 |
|
Labor & Related Expense |
16.1 |
14.2 |
10.8 |
11.3 |
11.3 |
|
Advertising Expense |
0.7 |
0.5 |
0.4 |
0.6 |
0.9 |
|
Total Selling/General/Administrative Expenses |
26.1 |
23.1 |
17.6 |
19.2 |
23.2 |
|
Research & Development |
16.9 |
12.2 |
10.1 |
12.6 |
11.5 |
|
Depreciation |
1.0 |
1.2 |
1.4 |
1.8 |
0.8 |
|
Depreciation/Amortization |
1.0 |
1.2 |
1.4 |
1.8 |
0.8 |
|
Impairment-Assets Held for Use |
- |
0.0 |
0.1 |
1.5 |
6.6 |
|
Impairment-Assets Held for Sale |
- |
0.0 |
0.9 |
0.5 |
0.0 |
|
Other Unusual Expense (Income) |
0.0 |
0.8 |
0.0 |
0.0 |
-6.2 |
|
Unusual Expense (Income) |
0.0 |
0.8 |
1.0 |
1.9 |
0.4 |
|
Other Operating Expense |
0.0 |
- |
- |
- |
- |
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Other Operating Expenses, Total |
0.0 |
- |
- |
- |
- |
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Total Operating Expense |
117.7 |
124.6 |
90.4 |
102.5 |
100.4 |
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Operating Income |
39.3 |
28.6 |
7.1 |
-8.6 |
27.8 |
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Interest Expense - Non-Operating |
-0.5 |
-0.4 |
-0.1 |
-0.1 |
0.0 |
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Interest Expense, Net Non-Operating |
-0.5 |
-0.4 |
-0.1 |
-0.1 |
0.0 |
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Interest Income -
Non-Operating |
0.1 |
0.1 |
0.0 |
0.1 |
0.4 |
|
Investment Income -
Non-Operating |
-0.8 |
-0.9 |
-0.5 |
-0.1 |
0.1 |
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Interest/Investment Income - Non-Operating |
-0.7 |
-0.7 |
-0.5 |
0.0 |
0.5 |
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Interest Income (Expense) - Net Non-Operating Total |
-1.3 |
-1.1 |
-0.6 |
-0.1 |
0.4 |
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Gain (Loss) on Sale of Assets |
-0.1 |
0.0 |
0.0 |
-0.1 |
-0.2 |
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Other Non-Operating Income (Expense) |
-0.2 |
-0.6 |
0.2 |
0.1 |
0.1 |
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Other, Net |
-0.2 |
-0.6 |
0.2 |
0.1 |
0.1 |
|
Income Before Tax |
37.8 |
26.8 |
6.8 |
-8.7 |
28.0 |
|
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Total Income Tax |
14.9 |
8.5 |
2.8 |
-2.1 |
10.9 |
|
Income After Tax |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
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Net Income Before Extraord Items |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
|
Net Income |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
|
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|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
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Income Available to Common Incl Extraord Items |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
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Basic/Primary Weighted Average Shares |
11.3 |
11.3 |
11.3 |
11.3 |
11.4 |
|
Basic EPS Excl Extraord Items |
2.03 |
1.62 |
0.35 |
-0.59 |
1.50 |
|
Basic/Primary EPS Incl Extraord Items |
2.03 |
1.62 |
0.35 |
-0.59 |
1.50 |
|
Dilution Adjustment |
0.0 |
0.0 |
-0.4 |
0.0 |
0.0 |
|
Diluted Net Income |
22.9 |
18.3 |
3.6 |
-6.6 |
17.1 |
|
Diluted Weighted Average Shares |
11.3 |
11.9 |
12.5 |
11.3 |
12.9 |
|
Diluted EPS Excl Extraord Items |
2.03 |
1.54 |
0.29 |
-0.59 |
1.33 |
|
Diluted EPS Incl Extraord Items |
2.03 |
1.54 |
0.29 |
-0.59 |
1.33 |
|
Dividends per Share - Common Stock Primary Issue |
0.67 |
0.49 |
0.16 |
0.15 |
0.45 |
|
Gross Dividends - Common Stock |
7.6 |
5.6 |
1.8 |
1.7 |
5.1 |
|
Interest Expense, Supplemental |
0.5 |
0.4 |
0.1 |
0.1 |
0.0 |
|
Depreciation, Supplemental |
1.0 |
3.4 |
3.9 |
4.8 |
2.2 |
|
Total Special Items |
0.1 |
0.8 |
1.0 |
2.0 |
0.6 |
|
Normalized Income Before Tax |
37.8 |
27.6 |
7.8 |
-6.7 |
28.6 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.3 |
0.4 |
0.7 |
0.2 |
|
Inc Tax Ex Impact of Sp Items |
14.9 |
8.8 |
3.3 |
-1.4 |
11.1 |
|
Normalized Income After Tax |
22.9 |
18.8 |
4.5 |
-5.3 |
17.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
22.9 |
18.8 |
4.5 |
-5.3 |
17.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.03 |
1.67 |
0.40 |
-0.47 |
1.53 |
|
Diluted Normalized EPS |
2.03 |
1.59 |
0.33 |
-0.47 |
1.35 |
|
Rental Expenses |
- |
- |
- |
- |
0.4 |
|
Advertising Expense, Supplemental |
0.7 |
0.5 |
0.4 |
0.6 |
0.9 |
|
Research & Development Exp, Supplemental |
16.9 |
12.2 |
10.1 |
12.6 |
11.5 |
|
Reported Operating Profit |
39.3 |
29.4 |
8.1 |
-6.7 |
28.1 |
|
Reported Ordinary Profit |
37.8 |
27.6 |
7.8 |
-6.7 |
28.6 |
|
Normalized EBIT |
39.3 |
29.4 |
8.2 |
-6.7 |
28.1 |
|
Normalized EBITDA |
40.3 |
32.8 |
12.0 |
-1.9 |
30.3 |
|
Service Cost - Domestic |
- |
0.9 |
0.7 |
0.7 |
0.7 |
|
Domestic Pension Plan Expense |
- |
0.9 |
0.7 |
0.7 |
0.7 |
|
Defined Contribution Expense - Domestic |
- |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Pension Expense |
- |
0.9 |
0.7 |
0.8 |
0.7 |
|
Total Plan Service Cost |
- |
0.9 |
0.7 |
0.7 |
0.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
79.390941 |
80.76 |
88.49 |
96.485 |
106.005 |
|
Auditor |
|
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
58.9 |
54.1 |
19.2 |
16.3 |
27.0 |
|
Short Term Investments |
- |
- |
- |
- |
0.0 |
|
Cash and Short Term Investments |
58.9 |
54.1 |
19.2 |
16.3 |
27.0 |
|
Accounts Receivable -
Trade, Gross |
38.2 |
40.0 |
49.2 |
45.5 |
47.9 |
|
Provision for Doubtful
Accounts |
-1.7 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Trade Accounts Receivable - Net |
36.5 |
39.7 |
49.1 |
45.4 |
47.8 |
|
Total Receivables, Net |
36.5 |
39.7 |
49.1 |
45.4 |
47.8 |
|
Inventories - Work In Progress |
46.3 |
36.2 |
27.8 |
37.8 |
34.7 |
|
Inventories - Raw Materials |
5.6 |
7.1 |
6.1 |
6.2 |
3.9 |
|
Total Inventory |
51.9 |
43.3 |
33.9 |
44.0 |
38.6 |
|
Deferred Income Tax - Current Asset |
10.6 |
10.6 |
5.4 |
3.7 |
3.1 |
|
Other Current Assets |
7.4 |
14.1 |
10.9 |
3.1 |
5.1 |
|
Other Current Assets, Total |
18.0 |
24.7 |
16.3 |
6.8 |
8.2 |
|
Total Current Assets |
165.3 |
161.9 |
118.5 |
112.5 |
121.6 |
|
|
|
|
|
|
|
|
Buildings |
45.7 |
45.4 |
41.4 |
38.1 |
35.7 |
|
Land/Improvements |
53.6 |
52.7 |
48.1 |
44.1 |
40.7 |
|
Machinery/Equipment |
11.5 |
11.3 |
10.3 |
9.4 |
8.6 |
|
Construction in
Progress |
- |
- |
- |
- |
0.0 |
|
Property/Plant/Equipment - Gross |
110.8 |
109.3 |
99.8 |
91.6 |
85.0 |
|
Accumulated Depreciation |
-26.7 |
-24.4 |
-19.7 |
-14.8 |
-9.7 |
|
Property/Plant/Equipment - Net |
84.0 |
84.9 |
80.1 |
76.8 |
75.2 |
|
Intangibles, Net |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
LT Investment - Affiliate Companies |
0.8 |
0.8 |
0.8 |
- |
- |
|
LT Investments - Other |
3.4 |
2.7 |
2.4 |
2.5 |
1.7 |
|
Long Term Investments |
4.3 |
3.5 |
3.1 |
2.5 |
1.7 |
|
Note Receivable - Long Term |
4.6 |
5.4 |
5.8 |
6.1 |
6.2 |
|
Deferred Income Tax - Long Term Asset |
2.4 |
2.5 |
2.8 |
5.7 |
3.2 |
|
Other Long Term Assets |
1.0 |
1.4 |
3.0 |
2.4 |
2.2 |
|
Other Long Term Assets, Total |
3.4 |
3.8 |
5.9 |
8.1 |
5.4 |
|
Total Assets |
261.7 |
259.6 |
213.4 |
205.9 |
210.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
9.7 |
12.4 |
14.3 |
4.0 |
5.5 |
|
Accrued Expenses |
1.5 |
0.9 |
0.3 |
0.0 |
1.1 |
|
Notes Payable/Short Term Debt |
- |
0.0 |
0.0 |
11.4 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
8.9 |
8.7 |
45.2 |
0.0 |
- |
|
Customer Advances |
14.1 |
9.3 |
4.6 |
4.1 |
10.7 |
|
Income Taxes Payable |
11.0 |
12.4 |
0.8 |
0.1 |
7.4 |
|
Other Current Liabilities |
11.5 |
9.0 |
6.9 |
6.9 |
9.8 |
|
Other Current liabilities, Total |
36.6 |
30.6 |
12.2 |
11.1 |
27.9 |
|
Total Current Liabilities |
56.7 |
52.7 |
72.0 |
26.5 |
34.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
14.9 |
35.7 |
0.0 |
51.8 |
47.2 |
|
Total Long Term Debt |
14.9 |
35.7 |
0.0 |
51.8 |
47.2 |
|
Total Debt |
23.7 |
44.5 |
45.2 |
63.2 |
47.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
- |
- |
0.0 |
0.0 |
0.0 |
|
Deferred Income Tax |
- |
- |
0.0 |
0.0 |
0.0 |
|
Pension Benefits - Underfunded |
3.6 |
3.7 |
3.3 |
2.9 |
2.1 |
|
Other Long Term Liabilities |
0.4 |
0.4 |
0.7 |
0.6 |
0.9 |
|
Other Liabilities, Total |
4.0 |
4.1 |
4.0 |
3.5 |
3.0 |
|
Total Liabilities |
75.5 |
92.5 |
76.0 |
81.8 |
84.7 |
|
|
|
|
|
|
|
|
Common Stock |
11.7 |
11.5 |
10.5 |
9.6 |
8.8 |
|
Common Stock |
11.7 |
11.5 |
10.5 |
9.6 |
8.8 |
|
Additional Paid-In Capital |
14.1 |
14.0 |
12.8 |
11.7 |
10.7 |
|
Retained Earnings (Accumulated Deficit) |
175.6 |
156.0 |
127.2 |
114.6 |
115.8 |
|
Treasury Stock - Common |
-12.4 |
-12.3 |
-11.2 |
-10.3 |
-9.4 |
|
Unrealized Gain (Loss) |
0.1 |
0.1 |
0.1 |
-0.3 |
-0.1 |
|
Translation Adjustment |
-3.0 |
-2.3 |
-1.9 |
-1.3 |
-0.4 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Equity, Total |
-3.0 |
-2.3 |
-1.9 |
-1.3 |
-0.4 |
|
Total Equity |
186.1 |
167.1 |
137.5 |
124.1 |
125.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
261.7 |
259.6 |
213.4 |
205.9 |
210.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
11.3 |
11.3 |
11.3 |
11.3 |
11.3 |
|
Total Common Shares Outstanding |
11.3 |
11.3 |
11.3 |
11.3 |
11.3 |
|
Treasury Shares - Common Stock Primary Issue |
0.5 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Employees |
- |
223 |
229 |
240 |
231 |
|
Number of Common Shareholders |
- |
5,457 |
5,451 |
5,764 |
5,769 |
|
Deferred Revenue - Current |
14.1 |
9.3 |
4.6 |
4.1 |
10.7 |
|
Total Long Term Debt, Supplemental |
- |
44.5 |
45.2 |
51.8 |
47.2 |
|
Long Term Debt Maturing within 1 Year |
- |
8.7 |
22.6 |
25.9 |
15.7 |
|
Long Term Debt Maturing in Year 2 |
- |
8.7 |
22.6 |
25.9 |
15.7 |
|
Long Term Debt Maturing in Year 3 |
- |
8.7 |
- |
- |
15.7 |
|
Long Term Debt Maturing in Year 4 |
- |
8.7 |
- |
- |
- |
|
Long Term Debt Maturing in Year 5 |
- |
8.7 |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
- |
17.5 |
22.6 |
25.9 |
31.4 |
|
Long Term Debt Maturing in 4-5 Years |
- |
17.5 |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
0.8 |
0.0 |
0.0 |
- |
|
Pension Obligation - Domestic |
- |
6.1 |
5.0 |
4.3 |
3.5 |
|
Plan Assets - Domestic |
- |
2.4 |
1.7 |
1.4 |
1.4 |
|
Funded Status - Domestic |
- |
-3.7 |
-3.3 |
-2.9 |
-2.1 |
|
Total Funded Status |
- |
-3.7 |
-3.3 |
-2.9 |
-2.1 |
|
Accrued Liabilities - Domestic |
- |
-3.7 |
-3.3 |
-2.9 |
-2.1 |
|
Net Assets Recognized on Balance Sheet |
- |
-3.7 |
-3.3 |
-2.9 |
-2.1 |
|
Total Plan Obligations |
- |
6.1 |
5.0 |
4.3 |
3.5 |
|
Total Plan Assets |
- |
2.4 |
1.7 |
1.4 |
1.4 |
Annual Cash Flows
Financials in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-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) |
78.601914 |
83.072254 |
91.59515 |
98.728525 |
110.286762 |
|
Auditor |
|
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
37.8 |
26.8 |
6.8 |
-8.7 |
28.0 |
|
Depreciation |
3.3 |
3.4 |
3.9 |
4.8 |
2.2 |
|
Depreciation/Depletion |
3.3 |
3.4 |
3.9 |
4.8 |
2.2 |
|
Unusual Items |
0.1 |
0.7 |
0.4 |
2.0 |
6.2 |
|
Other Non-Cash Items |
4.1 |
2.0 |
0.3 |
1.2 |
0.6 |
|
Non-Cash Items |
4.1 |
2.6 |
0.7 |
3.2 |
6.8 |
|
Accounts Receivable |
3.1 |
13.5 |
0.8 |
7.3 |
-12.6 |
|
Inventories |
-8.0 |
-5.9 |
13.6 |
-1.7 |
-2.4 |
|
Accounts Payable |
1.7 |
-1.7 |
9.6 |
-2.1 |
2.5 |
|
Accrued Expenses |
0.6 |
0.6 |
0.2 |
-1.2 |
-0.2 |
|
Other Liabilities |
4.7 |
3.9 |
0.1 |
-7.4 |
0.2 |
|
Other Operating Cash Flow |
-14.5 |
-3.4 |
-8.5 |
-9.2 |
-18.8 |
|
Changes in Working Capital |
-12.4 |
7.0 |
15.7 |
-14.3 |
-31.2 |
|
Cash from Operating Activities |
32.8 |
39.9 |
27.1 |
-15.1 |
5.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-0.7 |
-0.5 |
-0.4 |
-0.6 |
-62.8 |
|
Capital Expenditures |
-0.7 |
-0.5 |
-0.4 |
-0.6 |
-62.8 |
|
Acquisition of Business |
- |
0.0 |
-0.7 |
0.0 |
- |
|
Sale of Fixed Assets |
0.0 |
0.1 |
0.0 |
0.1 |
0.2 |
|
Sale/Maturity of Investment |
- |
- |
0.0 |
0.0 |
59.8 |
|
Investment, Net |
-0.2 |
- |
- |
- |
- |
|
Purchase of Investments |
-0.7 |
- |
0.0 |
-1.8 |
-1.8 |
|
Other Investing Cash Flow |
0.9 |
-0.3 |
-0.2 |
-0.2 |
1.7 |
|
Other Investing Cash Flow Items, Total |
0.0 |
-0.3 |
-0.9 |
-1.8 |
59.8 |
|
Cash from Investing Activities |
-0.7 |
-0.8 |
-1.2 |
-2.4 |
-3.0 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-5.9 |
-2.0 |
-1.8 |
-5.7 |
-6.3 |
|
Total Cash Dividends Paid |
-5.9 |
-2.0 |
-1.8 |
-5.7 |
-6.3 |
|
Sale/Issuance of
Common |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
0.0 |
0.0 |
-7.5 |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
-7.5 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
-7.5 |
|
Short Term Debt, Net |
- |
0.0 |
-12.0 |
11.1 |
0.0 |
|
Long Term Debt Issued |
0.0 |
59.5 |
0.0 |
- |
0.0 |
|
Long Term Debt
Reduction |
-21.7 |
-64.4 |
-10.3 |
0.0 |
- |
|
Long Term Debt, Net |
-21.7 |
-4.9 |
-10.3 |
0.0 |
0.0 |
|
Issuance (Retirement) of Debt, Net |
-21.7 |
-4.9 |
-22.3 |
11.1 |
0.0 |
|
Cash from Financing Activities |
-27.6 |
-7.0 |
-24.2 |
5.4 |
-13.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.8 |
0.0 |
-0.3 |
-1.3 |
-0.5 |
|
Net Change in Cash |
3.7 |
32.1 |
1.4 |
-13.4 |
-11.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
55.2 |
20.0 |
16.7 |
28.9 |
37.4 |
|
Net Cash - Ending Balance |
58.8 |
52.2 |
18.2 |
15.5 |
25.9 |
|
Cash Interest Paid |
0.5 |
0.4 |
0.1 |
0.1 |
0.0 |
|
Cash Taxes Paid |
16.6 |
1.4 |
0.6 |
8.0 |
15.8 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-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) |
78.601914 |
83.072254 |
91.59515 |
98.728525 |
110.286762 |
|
Auditor |
|
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
157.0 |
153.1 |
97.5 |
93.9 |
128.2 |
|
Total Revenue |
157.0 |
153.1 |
97.5 |
93.9 |
128.2 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Cost of Sales |
73.6 |
87.2 |
60.3 |
67.0 |
64.6 |
|
Other Selling/General/Admin. Expense |
1.7 |
- |
- |
- |
- |
|
Selling Commission |
1.0 |
1.3 |
0.5 |
0.8 |
1.6 |
|
Advertising Expenses |
0.7 |
0.5 |
0.4 |
0.6 |
0.9 |
|
Bad Debt Exp&Prov of Allow.-Dbt Acct-SGA |
1.5 |
0.1 |
0.0 |
0.1 |
0.0 |
|
Directors Compensation |
2.3 |
2.3 |
1.6 |
2.1 |
1.9 |
|
Remuneration for Stock |
- |
- |
- |
- |
0.0 |
|
Salaries And Bonuses |
10.1 |
9.0 |
7.5 |
7.5 |
6.9 |
|
Reserve For Bonus Of Director |
1.5 |
0.8 |
0.2 |
- |
1.1 |
|
Provision for Retirement Benefits - SGA |
0.4 |
0.4 |
0.2 |
0.3 |
0.2 |
|
Welfare Expenses |
1.8 |
1.6 |
1.3 |
1.5 |
1.2 |
|
Traveling And Transportation Expense |
1.8 |
1.6 |
1.5 |
1.7 |
2.3 |
|
Depreciation |
1.0 |
1.2 |
1.4 |
1.8 |
0.8 |
|
Rent Expense |
- |
- |
- |
- |
0.4 |
|
Commission Fee Payable |
3.3 |
2.3 |
2.1 |
2.7 |
2.6 |
|
Research And Development Expenses |
16.9 |
12.2 |
10.1 |
12.6 |
11.5 |
|
Other Selling, General & Administratives |
- |
3.3 |
2.3 |
1.9 |
4.1 |
|
SP Government subsidy income |
- |
- |
0.0 |
-0.1 |
-6.6 |
|
SP Loss-deduction fixed assets |
- |
- |
0.0 |
0.1 |
6.6 |
|
SP Main office relocation exp. |
- |
- |
- |
0.0 |
0.4 |
|
SP Impairment loss |
- |
0.0 |
0.1 |
1.4 |
0.0 |
|
SP Val.Loss-Inv.Sec |
- |
0.0 |
0.9 |
0.5 |
0.0 |
|
SP Loss on disaster |
0.0 |
0.2 |
0.0 |
- |
- |
|
SP L on adj. for changes of acc. Assets |
0.0 |
0.7 |
0.0 |
- |
- |
|
SP Other losses |
- |
- |
0.0 |
0.1 |
0.0 |
|
Total Operating Expense |
117.7 |
124.6 |
90.4 |
102.5 |
100.4 |
|
|
|
|
|
|
|
|
SP Sale Gain-Fixed Asst |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP Dispo.Loss-Assets |
-0.1 |
0.0 |
0.0 |
-0.1 |
-0.2 |
|
NOP Interest Income |
0.1 |
0.1 |
0.0 |
0.1 |
0.4 |
|
NOP Dividend Income |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP G on redemption of bonds |
- |
0.0 |
0.6 |
0.0 |
- |
|
NOP Sale Gain-Invest.Sec |
- |
- |
- |
0.0 |
0.0 |
|
NOP Exchange Gain |
- |
- |
- |
0.0 |
0.1 |
|
NOP Rental income |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
|
NOP Other Non-op. Income |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
NOP Interest Expense |
-0.5 |
-0.4 |
-0.1 |
-0.1 |
0.0 |
|
NOP L on sale of trade notes rcvbl. |
- |
- |
0.0 |
0.0 |
0.0 |
|
NOP Bond issue expenses |
- |
- |
- |
- |
0.0 |
|
NOP Sale Loss-Invest.Sec |
- |
- |
- |
0.0 |
-0.1 |
|
NOP Exchange Loss |
-0.9 |
-0.9 |
-0.5 |
-0.2 |
0.0 |
|
NOP Rent expenses on noncurrent assets |
-0.3 |
-0.6 |
-0.4 |
0.0 |
- |
|
NOP Commission exp.-treasury stk bought |
- |
- |
- |
0.0 |
0.0 |
|
NOP Other Non-op. expense |
0.0 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Taxes |
37.8 |
26.8 |
6.8 |
-8.7 |
28.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
14.9 |
8.5 |
2.8 |
-2.1 |
10.9 |
|
Net Income After Taxes |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
|
Net Income |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
|
|
|
|
|
|
|
|
Directors' Bonus |
- |
- |
- |
0.0 |
0.0 |
|
Adjustment |
- |
0.0 |
0.0 |
- |
0.0 |
|
Income Available to Com Excl ExtraOrd |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
22.9 |
18.3 |
3.9 |
-6.6 |
17.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
11.3 |
11.3 |
11.3 |
11.3 |
11.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
2.03 |
1.62 |
0.35 |
-0.59 |
1.50 |
|
Basic EPS Including ExtraOrdinary Item |
2.03 |
1.62 |
0.35 |
-0.59 |
1.50 |
|
Dilution Adjustment |
0.0 |
0.0 |
-0.4 |
0.0 |
0.0 |
|
Diluted Net Income |
22.9 |
18.3 |
3.6 |
-6.6 |
17.1 |
|
Diluted Weighted Average Shares |
11.3 |
11.9 |
12.5 |
11.3 |
12.9 |
|
Diluted EPS Excluding ExtraOrd Items |
2.03 |
1.54 |
0.29 |
-0.59 |
1.33 |
|
Diluted EPS Including ExtraOrd Items |
2.03 |
1.54 |
0.29 |
-0.59 |
1.33 |
|
DPS-Common Stock |
0.67 |
0.49 |
0.16 |
0.15 |
0.45 |
|
Gross Dividends - Common Stock |
7.6 |
5.6 |
1.8 |
1.7 |
5.1 |
|
Normalized Income Before Taxes |
37.8 |
27.6 |
7.8 |
-6.7 |
28.6 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.9 |
8.8 |
3.3 |
-1.4 |
11.1 |
|
Normalized Income After Taxes |
22.9 |
18.8 |
4.5 |
-5.3 |
17.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
22.9 |
18.8 |
4.5 |
-5.3 |
17.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.03 |
1.67 |
0.40 |
-0.47 |
1.53 |
|
Diluted Normalized EPS |
2.03 |
1.59 |
0.33 |
-0.47 |
1.35 |
|
Advertising Expenses |
0.7 |
0.5 |
0.4 |
0.6 |
0.9 |
|
Research And Development Expenses |
16.9 |
12.2 |
10.1 |
12.6 |
11.5 |
|
Interest Expense |
0.5 |
0.4 |
0.1 |
0.1 |
0.0 |
|
Rental Expense |
- |
- |
- |
- |
0.4 |
|
Depreciation |
1.0 |
- |
- |
- |
- |
|
Depreciation |
- |
3.4 |
3.9 |
4.8 |
2.2 |
|
Reported Operating Profit |
39.3 |
29.4 |
8.1 |
-6.7 |
28.1 |
|
Reported Ordinary Profit |
37.8 |
27.6 |
7.8 |
-6.7 |
28.6 |
|
Service Cost |
- |
0.9 |
0.7 |
0.7 |
0.7 |
|
Domestic Pension Plan Expense |
- |
0.9 |
0.7 |
0.7 |
0.7 |
|
Defined Contribution Expense |
- |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Pension Expense |
- |
0.9 |
0.7 |
0.8 |
0.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
79.390941 |
80.76 |
88.49 |
96.485 |
106.005 |
|
Auditor |
|
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Deposit |
58.9 |
54.1 |
19.2 |
16.3 |
27.0 |
|
Notes and accounts receivable-trade |
38.2 |
40.0 |
49.2 |
45.5 |
47.9 |
|
Marketable Sec. |
- |
- |
- |
- |
0.0 |
|
Work-in-progress |
46.3 |
36.2 |
27.8 |
37.8 |
34.7 |
|
Raw material & supplies |
5.6 |
7.1 |
6.1 |
6.2 |
3.9 |
|
Dfrd. Tax Asset |
10.6 |
10.6 |
5.4 |
3.7 |
3.1 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Curr.Asset |
7.4 |
14.1 |
10.9 |
3.1 |
5.1 |
|
Doubtful Account |
-1.7 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Total current assets |
165.3 |
161.9 |
118.5 |
112.5 |
121.6 |
|
|
|
|
|
|
|
|
Bldg.&Structure |
45.7 |
45.4 |
41.4 |
38.1 |
35.7 |
|
Depreciation-Buildings And Structures |
-17.0 |
-15.1 |
-11.5 |
-8.1 |
-4.7 |
|
Machinery, equipment and vehicles |
1.9 |
1.8 |
1.7 |
1.5 |
1.5 |
|
Depre.-Machinery, equipment and vehicles |
-1.6 |
-1.5 |
-1.2 |
-1.0 |
-0.8 |
|
Tools, furniture and fixtures |
9.6 |
9.4 |
8.6 |
7.8 |
7.1 |
|
Depre.-Tools, furniture and fixtures |
-8.1 |
-7.8 |
-7.0 |
-5.7 |
-4.3 |
|
Land |
53.6 |
52.7 |
48.1 |
44.1 |
40.7 |
|
Constr. in Prog. |
- |
- |
- |
- |
0.0 |
|
Intangible Asset |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other LT Investments |
3.4 |
- |
- |
- |
- |
|
Investment Secs. |
- |
2.7 |
2.4 |
2.5 |
1.7 |
|
Inv. Sec. - Nonconso, Affiliated |
0.8 |
- |
- |
- |
- |
|
LT Investment - Affiliate Companies |
- |
0.8 |
0.8 |
- |
- |
|
Long-term accounts receivable-other |
4.6 |
5.4 |
5.8 |
6.1 |
6.2 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Allowance for doubtful accounts |
0.0 |
- |
- |
- |
- |
|
LT Guarantee deposits |
- |
- |
0.0 |
2.0 |
1.8 |
|
Deferred tax assets |
2.4 |
2.5 |
2.8 |
5.7 |
3.2 |
|
Other Assets |
1.1 |
1.4 |
3.0 |
0.4 |
0.4 |
|
Adjustment |
- |
0.0 |
- |
- |
- |
|
Property/Plant/Equipment, Total - Net |
0.0 |
- |
- |
- |
- |
|
Total Assets |
261.7 |
259.6 |
213.4 |
205.9 |
210.1 |
|
|
|
|
|
|
|
|
Accounts payable-trade |
9.7 |
12.4 |
14.3 |
4.0 |
5.5 |
|
ST Debt |
- |
- |
0.0 |
11.4 |
0.0 |
|
Current portion of long-term loans payab |
8.9 |
8.7 |
0.0 |
- |
- |
|
Bonds w/stock warrants (current) |
- |
0.0 |
45.2 |
0.0 |
- |
|
Income Tax Pybl. |
11.0 |
12.4 |
0.8 |
0.1 |
7.4 |
|
Customer Advance |
14.1 |
9.3 |
4.6 |
4.1 |
10.7 |
|
Provision for directors'' bonuses |
1.5 |
0.9 |
0.3 |
0.0 |
1.1 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Provision-Product Warranty |
4.5 |
2.4 |
1.6 |
1.7 |
1.8 |
|
Other Curr.Liabs |
7.0 |
6.6 |
5.3 |
5.1 |
8.0 |
|
Total Current Liabilities |
56.7 |
52.7 |
72.0 |
26.5 |
34.5 |
|
|
|
|
|
|
|
|
Bond with stock purchase warrants |
- |
- |
0.0 |
51.8 |
47.2 |
|
Long-term loans payable |
14.9 |
35.7 |
0.0 |
- |
- |
|
Total Long Term Debt |
14.9 |
35.7 |
0.0 |
51.8 |
47.2 |
|
|
|
|
|
|
|
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Long-term accounts payable |
- |
- |
0.0 |
0.6 |
0.6 |
|
Dfrd. Tax Liabs. |
- |
- |
0.0 |
0.0 |
0.0 |
|
Res-Accr.Retire |
3.6 |
3.7 |
3.3 |
2.9 |
2.1 |
|
Other Liability |
0.4 |
0.4 |
0.7 |
0.0 |
0.3 |
|
Total Liabilities |
75.5 |
92.5 |
76.0 |
81.8 |
84.7 |
|
|
|
|
|
|
|
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Common Stock |
11.7 |
11.5 |
10.5 |
9.6 |
8.8 |
|
Paid in Capital |
13.6 |
13.4 |
12.2 |
11.2 |
10.2 |
|
Retained Earning |
175.6 |
156.0 |
127.2 |
114.6 |
115.8 |
|
Treasury Stock |
-12.4 |
-12.3 |
-11.2 |
-10.3 |
-9.4 |
|
Valuation difference on available-for-sa |
0.1 |
0.1 |
0.1 |
-0.3 |
-0.1 |
|
Translation Adj. |
-3.0 |
-2.3 |
-1.9 |
-1.3 |
-0.4 |
|
New Stock Subscription Right |
0.5 |
0.6 |
0.6 |
0.5 |
0.5 |
|
Total net assets |
186.1 |
167.1 |
137.5 |
124.1 |
125.4 |
|
|
|
|
|
|
|
|
Total liabilities and net assets |
261.7 |
259.6 |
213.4 |
205.9 |
210.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
11.3 |
11.3 |
11.3 |
11.3 |
11.3 |
|
Total Common Shares Outstanding |
11.3 |
11.3 |
11.3 |
11.3 |
11.3 |
|
T/S-Common Stock |
0.5 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Deferred Revenue - Current |
14.1 |
9.3 |
4.6 |
4.1 |
10.7 |
|
Full-Time Employees |
- |
223 |
229 |
240 |
231 |
|
Number of Common Shareholders |
- |
5,457 |
5,451 |
5,764 |
5,769 |
|
Long Term Debt Maturing within 1 Year |
- |
8.7 |
- |
- |
- |
|
LT Debt maturing within 2 years |
- |
8.7 |
45.2 |
51.8 |
- |
|
LT Debt maturing within 3 years |
- |
8.7 |
- |
- |
47.2 |
|
LT Debt Maturing within 4yr. |
- |
8.7 |
- |
- |
- |
|
Long Term Debt Maturing in Year 5 |
- |
8.7 |
- |
- |
- |
|
Long Term Debt - Remaining Maturities |
- |
0.8 |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
- |
44.5 |
45.2 |
51.8 |
47.2 |
|
Pension Obligation |
- |
6.1 |
5.0 |
4.3 |
3.5 |
|
Fair Value of Plan Assets |
- |
2.4 |
1.7 |
1.4 |
1.4 |
|
Funded Status |
- |
-3.7 |
-3.3 |
-2.9 |
-2.1 |
|
Total Funded Status |
- |
-3.7 |
-3.3 |
-2.9 |
-2.1 |
|
Reserve for Accrued Retirement Benefits |
- |
-3.7 |
-3.3 |
-2.9 |
-2.1 |
|
Net Assets Recognized on Balance Sheet |
- |
-3.7 |
-3.3 |
-2.9 |
-2.1 |
Annual Cash Flows
Financials in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-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) |
78.601914 |
83.072254 |
91.59515 |
98.728525 |
110.286762 |
|
Auditor |
|
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Income Before Tax |
37.8 |
26.8 |
6.8 |
-8.7 |
28.0 |
|
Depreciation |
3.3 |
3.4 |
3.9 |
4.8 |
2.2 |
|
Impairment loss on assets |
- |
0.0 |
0.1 |
1.4 |
0.0 |
|
Increase (decrease) in allowance for dou |
1.5 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Increase (decrease) in provision for dir |
0.6 |
0.6 |
0.2 |
-1.2 |
-0.2 |
|
Increase (decrease) in provision for pro |
2.1 |
0.7 |
-0.3 |
-0.2 |
0.3 |
|
Increase (decrease) in provision for ret |
-0.1 |
0.0 |
0.2 |
0.5 |
0.6 |
|
Remuneration for stock |
- |
- |
- |
- |
0.0 |
|
Int. and Div. Income |
-0.1 |
-0.2 |
-0.1 |
-0.1 |
-0.4 |
|
Sale Gain-Investment Securities |
- |
- |
- |
0.0 |
0.0 |
|
Interest Expense |
0.5 |
0.4 |
0.1 |
0.1 |
0.0 |
|
Bond issue expenses |
- |
- |
- |
- |
0.0 |
|
Foreign exchange losses (gains) |
0.2 |
0.9 |
0.3 |
0.9 |
0.0 |
|
Gain on redemption of bonds |
- |
0.0 |
-0.6 |
0.0 |
- |
|
Sale Loss-Invest.Sec |
- |
- |
- |
0.0 |
0.1 |
|
Loss (gain) on disposal of property, pla |
0.1 |
0.0 |
0.0 |
0.1 |
0.2 |
|
Government subsidy income |
- |
- |
- |
0.0 |
-0.7 |
|
Increase (decrease) in long-term account |
0.9 |
0.9 |
0.8 |
0.7 |
-5.9 |
|
L on valuation of LT inv't in secs. |
- |
0.0 |
0.9 |
0.5 |
0.0 |
|
Loss on adjustment for changes of acct |
0.0 |
0.7 |
0.0 |
- |
- |
|
Loss-deduction fixed assets |
- |
- |
0.0 |
0.1 |
6.6 |
|
Decrease (increase) in notes and account |
2.2 |
12.6 |
0.0 |
6.6 |
-6.6 |
|
Decrease (increase) in inventories |
-8.0 |
-5.9 |
13.6 |
-1.7 |
-2.4 |
|
Increase (decrease) in notes and account |
1.7 |
-1.7 |
9.6 |
-2.1 |
2.5 |
|
Increase (decrease) in advances received |
4.7 |
3.9 |
0.1 |
-7.4 |
0.2 |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
- |
|
Other, net |
2.5 |
-1.8 |
-7.8 |
-1.3 |
-3.4 |
|
Int. and Div. Rcvd. |
0.1 |
0.2 |
0.1 |
0.2 |
0.4 |
|
Interest Paid |
-0.5 |
-0.4 |
-0.1 |
-0.1 |
0.0 |
|
Tax Paid |
-16.6 |
-1.4 |
-0.6 |
-8.0 |
-15.8 |
|
Adjustment |
- |
- |
0.0 |
- |
- |
|
Net cash provided by (used in) operating |
32.8 |
39.9 |
27.1 |
-15.1 |
5.8 |
|
|
|
|
|
|
|
|
Net decrease (increase) in time deposits |
-0.2 |
- |
- |
- |
- |
|
Purchase Of Investment Securities |
-0.7 |
- |
- |
- |
- |
|
Deposited-Time Depo |
- |
- |
0.0 |
-0.4 |
0.0 |
|
Withdrawn-Time Depo |
- |
- |
0.0 |
0.0 |
53.5 |
|
Purch-Marketable Sec |
- |
- |
- |
- |
0.0 |
|
Sale-Marketable Sec |
- |
- |
- |
0.0 |
1.8 |
|
Purchase of property, plant and equipmen |
-0.7 |
-0.5 |
-0.4 |
-0.6 |
-62.8 |
|
Proceeds from sales of property, plant a |
0.0 |
0.1 |
0.0 |
0.1 |
0.2 |
|
Purch-Investment Sec |
- |
- |
0.0 |
-1.4 |
-1.8 |
|
Sale-Investment Sec |
- |
- |
- |
0.0 |
4.5 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Payments of loans receivable |
-1.0 |
- |
- |
- |
- |
|
Proceeds from collection of guarantee de |
2.2 |
- |
- |
- |
- |
|
Increase in insurance reserve |
- |
- |
- |
0.0 |
0.9 |
|
Government subsidy rcvd. |
- |
- |
- |
0.0 |
0.7 |
|
Purchase of investments in subsidiaries |
- |
0.0 |
-0.7 |
0.0 |
- |
|
Other, net |
-0.3 |
-0.3 |
-0.2 |
-0.2 |
0.1 |
|
Net cash provided by (used in) investing |
-0.7 |
-0.8 |
-1.2 |
-2.4 |
-3.0 |
|
|
|
|
|
|
|
|
ST Debt,net |
- |
0.0 |
-12.0 |
11.1 |
0.0 |
|
Proceeds from long-term loans payable |
0.0 |
59.5 |
0.0 |
- |
- |
|
Repayment of long-term loans payable |
-21.7 |
-16.3 |
0.0 |
- |
- |
|
Redemption of bonds |
0.0 |
-48.2 |
0.0 |
- |
- |
|
Bond with Stock iss. Purchase extingush |
- |
0.0 |
-10.3 |
0.0 |
- |
|
Bond with Stock Purchase Warrants |
- |
- |
- |
- |
0.0 |
|
Purchase of treasury stock |
0.0 |
0.0 |
0.0 |
0.0 |
-7.5 |
|
Sales-Treasury Stock |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Dividend Paid |
-5.9 |
-2.0 |
-1.8 |
-5.7 |
-6.3 |
|
Net cash provided by (used in) financing |
-27.6 |
-7.0 |
-24.2 |
5.4 |
-13.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.8 |
0.0 |
-0.3 |
-1.3 |
-0.5 |
|
Net Change in Cash |
3.7 |
32.1 |
1.4 |
-13.4 |
-11.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
55.2 |
20.0 |
16.7 |
28.9 |
37.4 |
|
Net Cash - Ending Balance |
58.8 |
52.2 |
18.2 |
15.5 |
25.9 |
|
Cash Interest Paid |
0.5 |
0.4 |
0.1 |
0.1 |
0.0 |
|
Cash Taxes Paid |
16.6 |
1.4 |
0.6 |
8.0 |
15.8 |
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.