MIRA INFORM REPORT
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Report Date : |
20.10.2012 |
IDENTIFICATION DETAILS
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Name : |
EBARA CORPORATION |
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Registered Office : |
11-1, Haneda Asahi-cho, Ota-ku Tokyo, 144-8510 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
20.05.1920 |
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Legal Form : |
Public Parent |
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Line of Business : |
Manufacture and Sale of pumps, fans, compressors, turbines,
chillers and others, the engineering works, construction, operation and
maintenance of power plants, as well as the supply of materials. |
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No. of Employees : |
14,695 |
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RATING & COMMENTS
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MIRAs 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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 AND ADDRESS
EBARA
CORPORATION
11-1, Haneda Asahi-cho,
Ota-ku
Tokyo, 144-8510
Japan
Tel: 81-3-37436111
Fax: 81-3-57363100
Website: www.ebara.co.jp
Employees: 14,695
Company Type: Public
Parent
Corporate Family: 81
Companies
Traded: Tokyo
Stock Exchange: 6361
Over The Counter: EBCOY
Incorporation Date: 20-May-1920
Auditor: Ernst & Young
Shin Nihon LLC
Financials in: USD
(Millions)
Fiscal Year End: 31-Mar-2012
Reporting Currency: Japanese
Yen
Net Income: 36.6
Market Value: 1,760.5
(05-Oct-2012)
Business Description
EBARA CORPORATION has four business segments. The Fluid Machinery and System segment is engaged in the manufacture and sale of pumps, fans, compressors, turbines, chillers and others, the engineering works, construction, operation and maintenance of power plants, as well as the supply of materials. The Engineering segment is engaged in the construction, operation and maintenance of municipal waste incineration plants, industrial waste incineration plants, energy plants and water treatment facilities, as well as manufacture and sale of chemicals. The Precision Electronic segment is engaged in the manufacture, sale and maintenance of industrial equipment for vacuum pumps, semiconductors and other equipment. The Others segment is engaged in the provision of business support services. As of March 31, 2012, it had 77 subsidiaries and 11 associated companies. On April 1, 2012, it merged with EBARA TECHNO-SERVE CO., LTD., EBARA-YOSHIKURA HYDROTECH., LTD., and also a wholly owned subsidiary For the three months ended 30 June 2012, EBARA CORPORATION revenues increased 2% to Y81.29B. Net loss totaled Y424M vs. income of Y421M. Revenues reflect Fluid Business segment increase of 6% to Y56.2B. Net loss reflects Precision Electronic Business segment income decrease of 55% to Y1.1B, Fluid Business segment loss increase from Y285M to Y823M, Eliminations and Corporate segment income decrease of 56% to Y27M.
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Name |
Title |
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President, Representative Director |
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Executive Officer, Senior Director of Accounting and Finance |
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Executive Officer, Senior Director of Sales in Precision &
Electronic Business Company, Manager of Equipment Sales Promotion Office |
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Managing Executive Officer, Senior Director of Human Resources, Legal
Affairs and Public Relations, Director |
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Masakatsu Ohya |
Senior Executive Officer, Senior Director of Intellectual Property,
Manager of Intellectual Property Management and Trademark Office |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
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1 |
Yamato
Holdings Co Ltd.'s Subsidiary Files Lawsuit against Ebara Corporation |
28-Mar-2012 |
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1 |
Mirait
Holdings Corporation's Subsidiary to Acquire Ebara Corporation's Subsidiary |
9-Nov-2011 |
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1 |
Ebara
Corporation Lowers Consolidated Mid-year Outlook for FY Ending March 2012 |
28-Oct-2011 |
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2 |
16-Jan-2012 |
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4 |
10-Jul-2012 |
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* number of
significant developments within the last 12 months |
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News
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Title |
Date |
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Tokyo Stock
Exchange: closing price list -2- |
18-Oct-2012 |
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Tokyo Stock
Exchange: morning price list -2- |
17-Oct-2012 |
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Norwin task
force to study district's budgeting |
16-Oct-2012 |
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Tokyo Stock
Exchange: morning price list -2- |
10-Oct-2012 |
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Reports
Outline Pharmaceutical Science Research from Hoshi University |
10-Oct-2012 |
Financial Summary
As of 30-Jun-2012
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Key Ratios |
Company |
Industry |
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Current Ratio (MRQ) |
1.40 |
1.95 |
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Quick Ratio (MRQ) |
1.09 |
1.03 |
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Debt to Equity (MRQ) |
0.91 |
0.45 |
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Sales 5 Year Growth |
-5.20 |
6.22 |
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Net Profit Margin (TTM) % |
0.78 |
7.96 |
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Return on Assets (TTM) % |
0.66 |
8.48 |
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Return on Equity (TTM) % |
1.35 |
17.58 |
Stock Snapshot
Traded: Tokyo Stock Exchange: 6361
As of 5-Oct-2012
Financials in: JPY
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Recent Price |
326.00 |
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EPS |
22.40 |
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52 Week High |
353.00 |
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Price/Sales |
0.33 |
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52 Week Low |
244.00 |
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Dividend Rate |
5.00 |
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Avg. Volume (mil) |
3.29 |
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Price/Earnings |
63.09 |
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Market Value (mil) |
137,926.30 |
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Price/Book |
0.91 |
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Beta |
1.44 |
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Price % Change |
Rel S&P 500% |
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4 Week |
-0.91% |
-1.18% |
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13 Week |
1.88% |
6.68% |
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52 Week |
13.19% |
13.14% |
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Year to Date |
23.02% |
21.60% |
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1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate:
USD 1 = JPY 82.38536
Location
11-1, Haneda Asahi-cho,
Ota-ku
Tokyo, 144-8510
Japan
Tel: 81-3-37436111
Fax: 81-3-57363100
Website: www.ebara.co.jp
Quote Symbol -
Exchange
6361 - Tokyo Stock Exchange
Sales JPY(mil): 412,076.0
Assets JPY(mil): 488,964.0
Employees: 14,695
Fiscal Year End: 31-Mar-2012
Industry: Miscellaneous Capital Goods
Incorporation
Date: 20-May-1920
Company Type: Public Parent
Quoted Status: Quoted
Co-Managing Executive Officer: Kozo
Nakao
Industry
Codes
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ANZSIC 2006 Codes: |
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2451 |
- |
Pump and Compressor Manufacturing |
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2499 |
- |
Other Machinery and Equipment Manufacturing Not Elsewhere Classified |
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6923 |
- |
Engineering Design and Engineering Consulting Services |
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3109 |
- |
Other Heavy and Civil Engineering Construction |
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2469 |
- |
Other Specialised Machinery and Equipment Manufacturing |
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6999 |
- |
Other Professional, Scientific and Technical Services Not Elsewhere
Classified |
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NACE 2002 Codes: |
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2912 |
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Manufacture of pumps and compressors |
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2924 |
- |
Manufacture of other general purpose machinery not elsewhere
classified |
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7487 |
- |
Other business activities not elsewhere classified |
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4521 |
- |
General construction of buildings and civil engineering works |
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7420 |
- |
Architectural and engineering activities and related technical
consultancy |
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2923 |
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Manufacture of non-domestic cooling and ventilation equipment |
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2911 |
- |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
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NAICS 2002 Codes: |
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333911 |
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Pump and Pumping Equipment Manufacturing |
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561990 |
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All Other Support Services |
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333411 |
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Air Purification Equipment Manufacturing |
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237990 |
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Other Heavy and Civil Engineering Construction |
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237130 |
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Power and Communication Line and Related Structures Construction |
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333298 |
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All Other Industrial Machinery Manufacturing |
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541330 |
- |
Engineering Services |
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333611 |
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Turbine and Turbine Generator Set Units Manufacturing |
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US SIC 1987: |
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3561 |
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Pumps and Pumping Equipment |
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7389 |
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Business Services, Not Elsewhere Classified |
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3511 |
- |
Steam, Gas, and Hydraulic Turbines, and Turbine Generator Set Units |
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1623 |
- |
Water, Sewer, Pipeline, and Communications and Power Line Construction |
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8711 |
- |
Engineering Services |
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3564 |
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Industrial and Commercial Fans and Blowers and Air Purification
Equipment |
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3559 |
- |
Special Industry Machinery, Not Elsewhere Classified |
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1629 |
- |
Heavy Construction, Not Elsewhere Classified |
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UK SIC 2003: |
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29121 |
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Manufacture of pumps |
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2924 |
- |
Manufacture of other general purpose machinery not elsewhere classified |
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7487 |
- |
Other business activities not elsewhere classified |
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45213 |
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Construction of civil engineering constructions |
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74204 |
- |
Engineering consultative and design activities |
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2923 |
- |
Manufacture of non-domestic cooling and ventilation equipment |
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2911 |
- |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
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UK SIC 2007: |
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28131 |
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Manufacture of pumps |
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2829 |
- |
Manufacture of other general-purpose machinery n.e.c. |
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8299 |
- |
Other business support service activities n.e.c. |
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2811 |
- |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
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2825 |
- |
Manufacture of non-domestic cooling and ventilation equipment |
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71129 |
- |
Other engineering activities (not including engineering design for
industrial process and production or engineering related scientific and
technical consulting activities) |
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4221 |
- |
Construction of utility projects for fluids |
Business
Description
EBARA CORPORATION has four business segments. The Fluid Machinery and System segment is engaged in the manufacture and sale of pumps, fans, compressors, turbines, chillers and others, the engineering works, construction, operation and maintenance of power plants, as well as the supply of materials. The Engineering segment is engaged in the construction, operation and maintenance of municipal waste incineration plants, industrial waste incineration plants, energy plants and water treatment facilities, as well as manufacture and sale of chemicals. The Precision Electronic segment is engaged in the manufacture, sale and maintenance of industrial equipment for vacuum pumps, semiconductors and other equipment. The Others segment is engaged in the provision of business support services. As of March 31, 2012, it had 77 subsidiaries and 11 associated companies. On April 1, 2012, it merged with EBARA TECHNO-SERVE CO., LTD., EBARA-YOSHIKURA HYDROTECH., LTD., and also a wholly owned subsidiary For the three months ended 30 June 2012, EBARA CORPORATION revenues increased 2% to Y81.29B. Net loss totaled Y424M vs. income of Y421M. Revenues reflect Fluid Business segment increase of 6% to Y56.2B. Net loss reflects Precision Electronic Business segment income decrease of 55% to Y1.1B, Fluid Business segment loss increase from Y285M to Y823M, Eliminations and Corporate segment income decrease of 56% to Y27M.
Source: Reuters
More Business Descriptions
EBARA Corporation
(EBARA), incorporated on May 20, 1920, is a manufacturer of industrial
machinery, based on its fluid machinery and systems business with a focus on pumps
and compressors, as well as other related products. The Company operates under
three segments: fluid machinery and systems (FMS), environmental engineering
and precision machinery. Its subsidiaries include Ebara Densan Ltd., Ebara
Techno-serve Co., Ltd., Ebara Shinwa Ltd., Ebara Industrial Cleaning Co., Ltd.,
Chubu Recycle Co., Ltd. and Ebara Meister Co., Ltd.
Fluid Machinery & Systems
In the FMS group, the Company supplies pumps and other equipments. These
products include equipment that is essential for nuclear power plants and for
desalination plants, both of which are solutions for water supply, energy and
environmental issues.
Environmental Engineering
The Company provides a range of services from construction to operation and
maintenance for water treatment, solid waste treatment and other facilities.
EBARA offers solutions for addressing a diversity of issues in this area.
Precision Machinery Business
EBARA is developing solutions in the chemical mechanical positioning (CMP)
systems, dry vacuum pump, and other fields on a global basis. Its products in
the semiconductor manufacturing equipment area include precision technology
down to the nanometer.
Manufacture of pumps, hydraulic turbines, fans and blowers, chillers, Elliott rotating process equipment, precision machinery for semiconductor industries; chemical products; environmental engineering, chemical, water treatment plant and nuclear power equipment
Mfr of Fluid Machinery; Construction of Environment Protection Facilities; Manufacturing of Precision Machinery for Semiconductor Industry
EBARA is a manufacturer of industrial pumps and transfer machinery for fluids and gaseous substances. The company is also a contractor of environmental engineering and equipment, including water treatment systems and solid waste processing and utilization plants. EBARA is a leading supplier of precision machinery to the semiconductor device manufacturing industry. The company is also engaged in developing renewable energy technologies, including wind power generators, fuel cell cogeneration systems, and photovoltaic power generators. The company principally operates in Japan and North America as well as in China, Taiwan, Hong Kong, Thailand, the Philippines, United Arab Emirates (U.A.E.), Vietnam, Egypt, Italy and Switzerland. During the financial crisis in 2009, the company implemented its “E-Plan2010 Medium-Term Management Plan, and all the Group’s business segments focused their fullest efforts on improving profitability. Under this plan the Group is concentrating on the basic policies of strengthening the business base for sustained growth and implementing corporate activities that emphasize compliance. EBARA has 76 subsidiaries and 15 affiliate companies. The company operates its business through three reportable business segments namely, fluid machinery and systems, environmental engineering, and precision machinery. In 2011, the company established a new subsidiary, Ebara Fluid Machinery Korea Co., Ltd. (EFMK) in Seoul, Korea, which will operate as base for its pump-related business. Further, the company has entered into an agreement to transfer its hydraulic turbine business with Voith Fuji Hydro KK.
EBARA Corporation (EBARA) is principally a manufacturer of industrial machineries. It engages in the manufacture of fluid transfer machinery and gaseous substances in pumps, compressors, fans, and chillers. It is also a contractor of environmental engineering systems; and a leading supplier of precision machinery to the semiconductor device manufacturing industry. The company operates its business through its three reportable business segments namely: fluid machinery and systems, environmental engineering, and precision machinery. Currently, EBARA has 76 subsidiaries and 15 affiliate companies. It operates in Japan and North America, as well as in the People's Republic of China, Taiwan, Hong Kong, Thailand, the Philippines, the United Arab Emirates, Vietnam, Egypt, Italy, and Switzerland. EBARA is headquartered in Tokyo, Japan.The company reported revenues of (Yen) JPY 412,076.00 million during the fiscal year ended March 2012, an increase of 2.59% over 2011. The operating profit of the company was JPY 12,542.00 million during the fiscal year 2012, a decrease of 57.41% from 2011. The net profit of the company was JPY 2,891.00 million during the fiscal year 2012, a decrease of 89.75% from 2011.
Engine, Turbine and Power Transmission Equipment Manufacturing
Financial
Data
|
Financials in: |
JPY(mil) |
1 Year Growth |
|
Revenue: |
412,076.0 |
2.6% |
|
Net Income: |
2,891.0 |
-89.8% |
|
Assets: |
488,964.0 |
-3.7% |
|
Long Term Debt: |
62,640.0 |
|
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Total Liabilities: |
337,465.0 |
|
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Working Capital: |
47.8 |
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Date of Financial Data: |
31-Mar-2012 |
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Quote Symbol: |
6361 |
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Exchange: |
Tokyo Stock Exchange |
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Currency: |
JPY |
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Stock Price: |
326.0 |
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Stock Price Date: |
10-05-2012 |
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52 Week Price Change %: |
13.2 |
|
Market Value (mil): |
137,926,304.0 |
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SEDOL: |
6302700 |
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ISIN: |
JP3166000004 |
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Equity and Dept Distribution: |
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FY'94-'02 all WAS were estimated. FY'04-'06,'08 Q1&Q3
WAS and O/S were estimated. FY'11 DWAS was estimated. |
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|
Company |
Percentage Owned |
Country |
|
Ebara Shohnan Sports Center Inc |
100% |
JAPAN |
|
Ebara Meister Co Ltd |
100% |
JAPAN |
|
Ebara Indústrias Mecánicas e Comércio Ltda |
100% |
BRAZIL |
|
Ebara Pumps Europe SpA |
100% |
ITALY |
|
Ebara Engineering Singapore Pte Ltd |
100% |
SINGAPORE |
|
Ebara Benguet Inc |
100% |
PHILIPPINES |
|
Qingdao Ebara Rebirth Resource Power Co Ltd |
100% |
PEOPLE'S REPUBLIC OF CHINA |
|
Sumoto srl |
100% |
ITALY |
|
Ebara Pumps Austrlia Pty Ltd |
100% |
AUSTRALIA |
|
Yantai Ebara Air Conditioning Equipment Co Ltd |
100% |
PEOPLE'S REPUBLIC OF CHINA |
|
ECE Co Ltd |
100% |
JAPAN |
|
Ebara-Densan Taiwan Manufacturing Co Ltd |
100% |
TAIWAN |
|
Elliott Turbomachinery Ltd |
100% |
UK |
|
Chubu Recycle Co Ltd |
100% |
JAPAN |
|
E-Square Co Ltd |
100% |
JAPAN |
|
Ebara Field Tech Corporation |
100% |
JAPAN |
|
Ebara International Corporation |
100% |
USA |
|
Elliott Company |
100% |
USA |
|
Ebara España Bombas SA |
100% |
SPAIN |
|
Ebara Pumps Malaysia Sdn Bhd |
100% |
MALAYSIA |
|
PT Ebara Indonesia |
100% |
INDONESIA |
|
Ebara Hai Duong Company Ltd |
100% |
VIETNAM |
|
Ebara Densan (Kunshan) Mfg Co Ltd |
100% |
PEOPLE'S REPUBLIC OF CHINA |
|
Ebara Great Pumps Co Ltd |
100% |
PEOPLE'S REPUBLIC OF CHINA |
|
Ebara-Elliot Service (Taiwan) Co Ltd |
100% |
TAIWAN |
|
Elliott Ebara Singapore Pty Ltd |
100% |
SINGAPORE |
|
Ebara (Thailand) Ltd |
100% |
THAILAND |
|
Ebara Qingdao Co Ltd |
100% |
PEOPLE'S REPUBLIC OF CHINA |
|
Ebara Precision Machinery Europe GmbH |
100% |
GERMANY |
|
Ebara Precision Machinery Korea Inc |
100% |
SOUTH KOREA |
|
Ebara Precision Machinery Taiwan Inc |
100% |
TAIWAN |
|
Ebara Technologies Inc |
100% |
USA |
|
Shanghai Ebara Precision Machinery Co Ltd |
100% |
PEOPLE'S REPUBLIC OF CHINA |
|
Ebara America Corp |
100% |
USA |
|
Ebara Machinery (China) Co Ltd |
100% |
PEOPLE'S REPUBLIC OF CHINA |
|
Ebara Boshan Pumps Co Ltd |
100% |
PEOPLE'S REPUBLIC OF CHINA |
|
Ebara Densan Ltd |
100% |
JAPAN |
|
Ebara Techno-Serve Co Ltd |
100% |
JAPAN |
|
Ebara Material Co Ltd |
100% |
JAPAN |
|
Ebara Hamada Blower Co Ltd |
100% |
JAPAN |
|
Ebara Environmental Technologies Hokkaido Co Ltd |
100% |
JAPAN |
|
Ebara-Byron Jackson Ltd |
100% |
JAPAN |
|
Elliott Ebara Turbomachinery Corporation |
100% |
JAPAN |
|
Pacific Machinery & Engineering Co Ltd |
100% |
JAPAN |
|
Nissetsu Co Ltd |
100% |
JAPAN |
|
Ebara Agency Co Ltd |
100% |
JAPAN |
Major Shareholders
Japan Trustee Services Bank Ltd (Trust Account) (10%);
Master Trust Bank of Japan Ltd (8.1%)
Key
Corporate Relationships
Auditor: Ernst & Young Shin Nihon LLC
Auditor: Ernst & Young Shin Nihon LLC, Ernst & Young ShinNihon LLC
|
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Helpful |
Harmful |
|
Internal Origin |
Strengths |
Weaknesses |
|
External Origin |
Opportunities |
Threats |
Overview
Ebara Corporation
(EBARA) is one of the world's largest manufacturers of industrial pumps and
fluid transfer machinery. The company has a diversified geographical operations
and customers with. A wide operational presence increases its customer base and
diversifies its risks associated with the imbalances in demand for the
company's products in any particular category. The deteriorating profitability
ratios and limited liquidity are causes of conern for the company to lookupon.
The company can get benefited form its new product launches and capital
investments. However, intense competition and sluggish global economy are a
threat to the company's operations.
Strengths
Diversified Geographical Operations &
Customers
Wider reach in terms
of geography would mean reaping more benefits, eventually improving the profit
margins, attaining economies of scale and recognition on a worldwide basis.
Headquartered in Japan, the company has operations across the North America,
Asia and others. Geographically, the company operates through four regions:
Japan, North America, Asia and Others (include Italy, Germany, China,
Philippines, Taiwan, Singapore, Brazil, Korea and Malaysia). For the fiscal
year ended 2012, the Japan region accounted for 56.02% of the company’s total
revenue, followed by Asia with 24.12%, North America with 8.76% and Others with
11.1%. Geographical diversity enables the company mitigate various risks
associated with the over dependence on a specific market. It bestows the
company with a wide customer base, strong brand presence and growth
opportunities across emerging markets. Ebara Corporation is a Industrial
Machinery & Equipment supplying company. Its product portfolio comprise
pumps, compressors, chillers and cooling towers, blowers, environmental
engineering, components and equipment business. The company through its
products cater to various markets such as oil and gas industry, electric power
industry, basic materials industries, water treatment and sewage processing
field and semiconductor industry others. The diversity of its business profile
both in terms of geographical spread, end-user markets and customer base should
help mitigate the group's exposure to economic and industry cycles.
The company improved
its efficiency in 2012 when compared with previous year. This is justified with
efficiency ratios, namely, asset turnover, inventory turnover and capital
employed turnover. All these ratios state how effectively the resources are
being put to use and a higher ratio suggests that the firm is effectively using
its assets, fixed assets, working capital, current assets, and capital
employed. It reported an asset turnover ratio of 0.84 times in 2012 as compared
to 0.79 times in 2011, followed by fixed asset turnover of 4.63 times in 2012
as compared to 4.48 times in 2011. Its current asset turn over ratio and
working capital turnover ratio for 2012 are 1.19 times and 4.29 times as
compared to 1.08 times and 3.57 times in 2011, and the capital employed
turnover ratio is 2.72 times in 2012 as compared to 2.64 times in 2011.
Business competency
in terms of market leadership drives growth of the company, providing it a competitive
advantage. EBARA is one of Japan’s leading manufacturers of transfer
machinery for fluids and gaseous substances. The company maintains strong
market position in pumps, compressors, fans, and chillers. In addition, its
high end technological skill enable it to reduce the design and fabrication
time. Further, Ebara’s diversity in terms of a broad range of products and
its application in end-user market enables the company to cater to diverse need
of its customers. The company has operations across various regions including
Japan, North America, Asia, Middle East, Europe and Others. The company markets
its products through a network consisting of 77 subsidiaries and 11 affiliate
companies that enable the company to sustain its leading position.
Technological advantage and diversified earning mix is a key for the leading
market position in several products.
Weaknesses
Deteriorating Profitability Ratios
Deteriorating
profitability ratios indicate that the company has been performing low and is
not in a position to deliver value as expected by its shareholders. In fiscal
2012, the company recorded decline across its various profitability indicators.
The company registered an operating profit of JPY12,542m during the fiscal year
ended 2012, a decrease of 57.41% from 2011. The decrease in operating profit
resulted in the decreased net profit levels. Its net profit was JPY2,891m
during the fiscal year ended 2012, a decrease of 89.75% in 2011. Decreased
operating and net profits of the company resulted in decreased profitability
ratios. The company reported operating margin of 5.54% in 2012, as compared to
7.33% in 2011. The company also reported decreased return on equity (ROE) in
2012. Its ROE was 1.91% for fiscal year 2012, compared to 18.51% in 2011.
Decreased ROE indicates that the company may not be using the shareholders'
money as efficiently as other companies in the sector and that it is generating
low returns for its shareholders compared to other companies in the sector. Its
return on capital employed was 9.57% in the fiscal year ended 2012, compared to
11.88% in 2011. Also, its return on assets, return on fixed assets, and return
on working capital were 0.59%, 16.01%, and 23.82%, respectively in 2012
compared to 5.55%, 21.74% and 26.21% in 2011.
Declining liquidity
assumes significance as the company will be compelled to spend a significant
amount of money to enhance its business and revenue stream. The company
reported a decline in all the liquidity ratios. Its liquidity ratios decreased
due to the decrease in its current assets. Its total current assets decreased
to JPY346,248m in the fiscal year 2012 from JPY372,420m in 2011. This led to a
marginal decline in its liquidity indicators such as current ratio, quick ratio
and cash ratio. During the fiscal year ended March 2012, it reported current
ratio of 1.38 times as against 1.43 times in 2011, followed by quick ratio of
1.11 times as against 1.18 times, and cash ratio of 0.35 times in 2012 as
against 0.40 times in 2011. The declining current ratio indicates that the
company is in a weak position to meet its short-term obligations. The company
also reported a decrease in cash and cash equivalents in fiscal year 2012. The
company had JPY84,955m in cash and cash equivalents as of March 2012, as
compared to cash and cash equivalents of JPY100,675m in 2011. The decrease in
cash reserves was mainly due to the decrease in cash flow from operating
activities. As a result, the company recorded negative net change in cash of
JPY16,707m during 2012, as compared to a net change in cash of JPY22,290m in
2011. The decreasing cash reserves indicate the company’s inability to obtain
additional debt to finance acquisitions, capture business opportunities and
meet capital expenditure or other capital requirements in the future.
Opportunities
The company's
capital investments will complement and further enhance its core business. For
the fiscal year ended March 2012, the company's capital expenditure accounted
for JPY12,316m, as compared to JPY8,189m during the previous year. The
expenditure is mainly for expansion of production capacity and the introduction
of equipment to enhance productivity. The capital investments of the company by
business segments: Fluid Machinery & Systems Company, Environmental
Engineering Company and Precision Machinery Company comprises JPY7,273 million,
JPY440 million and JPY2,932m, respectively. Such new investment avenues will
generate ample of opportunities for future business growth of the company.
New products helps
the company in enhancing its operations and there by attracting new customers.
As a part of its business expansion plan, in January 2012, the company
introduced new products in the save energy pump series (SE Series), model FDP-E
and EVM-E. These models are additions to the SE series, which adds
energy-saving functions to standard pumps, are stainless steel surface pump
models that directly employ premium efficiency motors. The new models have
higher efficiency levels required by pump facilities. Besides, In September
2011, the company introduced the sales of three new lines of gas abatement
systems for Japanese market which can treat massive gas flow: G6, G6-PV and
G6-E. These new systems detoxify hazardous gases deriving from processes to
manufacture semiconductors and solar cells. All the models are of the compound
gas abatement system type, equipped with a water scrubber and fired thermal
component.
Threats
Sluggish growth in the
global economy could impact the performance of businesses across the world.
According to the World Bank, the global economy is set grow just 2.5% in 2012,
which is weighed down mainly by ripple effects of the 2008 financial crisis.
Sovereign debt crisis in Europe compounded the troubles. The World Bank lowered
its growth forecast to 1.4% for high-income countries in 2012 and -0.3% for the
high-income Euro Area. The GDP growth in East Asia and Pacific region is
estimated to slowdown to 7.8% in 2012 from 8.2% in 2011. In response to such
turbulent global markets, world trade expanded in 2011 at an estimated 6.6% and
is expected to grow only 4.7% in 2012. In spite of worldwide efforts to reshape
regulatory frameworks and financial systems, many economies continue to be
burdened by private and public debt. The possibility of similar debt situation
spreading to other countries looms large. Such turbulence in the global markets
could impact the extension of credit, which affects new project plans or delays
the time lines for existing projects, hampering revenue generation
opportunities for the company.
Public works
projects accounts for a high percentage of the sales of the FMS segment and the
EE segment of the company. There is a possibility that cutbacks in public works
by the national government, regional governments, and related entities may
increase fluctuations in the company’s business activities, performance and
financial position. In addition, the company’s PM segment is strongly influenced
by the silicon cycle and fluctuations in the market for semiconductors may
influence companies’ production activities. Furthermore, EBARA consumes steel
during its equipment manufacturing operations. The ever increasing prices of
raw materials specially steel and copper could put pressure on company’s
margins.
The industry in
which the company operates is highly competitive, which may grab its sales
volume. The company competes with other pump and control product manufacturers
based on product availability, service capability, and price. The company faces
stiff competition from players like ITT Corporation, Flowserve Corporation,
Hitachi, Ltd., Kubota Corporation and Keyence Corporation of America. To
sustain itself in the market, the company has to come up with innovative
products and services with superior quality, safety and environmental concerns
and care for its customers. This highly competitive market could adversely
affect the company’s profitability, financial position and cash flows if the
company fails to retain existing clients and attract new ones.
Corporate
Structure News
|
EBARA CORPORATION |
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Tokyo |
Japan |
Miscellaneous Capital Goods |
5,218.7 |
14,695 |
|
|
Subsidiary |
Jeannette, PA |
United States |
Miscellaneous Capital Goods |
450.0 |
1,297 |
|
|
Branch |
Houston, TX |
United States |
Miscellaneous Capital Goods |
16.7 |
100 |
|
|
Subsidiary |
Basingstoke |
United Kingdom |
Business Services |
51.5 |
98 |
|
|
Subsidiary |
Lachen |
Switzerland |
Aerospace and Defense |
|
50 |
|
|
Subsidiary |
Burlington, ON |
Canada |
Scientific and Technical Instruments |
21.2 |
35 |
|
|
Branch |
New Orleans, LA |
United States |
Miscellaneous Capital Goods |
5.8 |
35 |
|
|
Branch |
Crown Point, IN |
United States |
Miscellaneous Capital Goods |
13.6 |
25 |
|
|
Branch |
Jacksonville, FL |
United States |
Miscellaneous Capital Goods |
6.1 |
25 |
|
|
Branch |
Fairfield, CA |
United States |
Miscellaneous Capital Goods |
4.0 |
24 |
|
|
Branch |
Plaquemine, LA |
United States |
Miscellaneous Capital Goods |
2.5 |
15 |
|
|
Branch |
Miramar, FL |
United States |
Miscellaneous Capital Goods |
1.6 |
3 |
|
|
Subsidiary |
Tokyo |
Japan |
Construction - Supplies and Fixtures |
|
765 |
|
|
Subsidiary |
Vicenza |
Italy |
Miscellaneous Capital Goods |
121.9 |
418 |
|
|
Subsidiary |
Warszawa |
Poland |
Miscellaneous Capital Goods |
3.9 |
10 |
|
|
Subsidiary |
Bogor, Jawa Barat |
Indonesia |
Miscellaneous Capital Goods |
1.0 |
400 |
|
|
Subsidiary |
Bogor, Jawa Barat |
Indonesia |
Chemical Manufacturing |
|
384 |
|
|
Subsidiary |
Yantai, Shandong Province |
China |
Appliance and Tool |
71.9 |
264 |
|
|
Subsidiary |
Taipei |
Taiwan |
Miscellaneous Capital Goods |
|
183 |
|
|
Subsidiary |
Bauru, SP |
Brazil |
Miscellaneous Capital Goods |
|
152 |
|
|
Subsidiary |
Suzuka, Mie-ken |
Japan |
Miscellaneous Capital Goods |
|
150 |
|
|
Subsidiary |
Sparks, NV |
United States |
Miscellaneous Capital Goods |
|
140 |
|
|
Branch |
Rock Hill, SC |
United States |
Miscellaneous Capital Goods |
8.3 |
25 |
|
|
Branch |
Houston, TX |
United States |
Miscellaneous Capital Goods |
0.7 |
2 |
|
|
Affiliates |
Tokyo |
Japan |
Miscellaneous Capital Goods |
|
137 |
|
|
Subsidiary |
Dusseldorf |
Germany |
Miscellaneous Capital Goods |
|
1 |
|
|
Subsidiary |
Hanau, Hessen |
Germany |
Business Services |
57.5 |
130 |
|
|
Subsidiary |
Hai Duong, Hai Duong |
Viet Nam |
Miscellaneous Capital Goods |
|
105 |
|
|
Joint Venture |
Cabugao, Laguna |
Philippines |
Miscellaneous Fabricated Products |
1.0 |
100 |
|
|
Subsidiary |
Tokyo |
Japan |
Real Estate Operations |
|
100 |
|
|
Subsidiary |
Singapore |
Singapore |
Office Equipment |
|
98 |
|
|
Subsidiary |
Sacramento, CA |
United States |
Miscellaneous Capital Goods |
40.0 |
90 |
|
|
Branch |
Hillsboro, OR |
United States |
Miscellaneous Capital Goods |
10.0 |
30 |
|
|
Branch |
Hopewell Jct, NY |
United States |
Miscellaneous Capital Goods |
5.7 |
17 |
|
|
Branch |
Manassas, VA |
United States |
Miscellaneous Capital Goods |
5.7 |
17 |
|
|
Branch |
San Jose, CA |
United States |
Miscellaneous Capital Goods |
5.7 |
17 |
|
|
Branch |
South Portland, ME |
United States |
Miscellaneous Capital Goods |
5.7 |
17 |
|
|
Branch |
Albany, NY |
United States |
Semiconductors |
5.7 |
10 |
|
|
Branch |
Sacramento, CA |
United States |
Miscellaneous Capital Goods |
5.7 |
7 |
|
|
Branch |
Culpeper, VA |
United States |
Electronic Instruments and Controls |
3.8 |
5 |
|
|
Branch |
Newburyport, MA |
United States |
Miscellaneous Capital Goods |
1.3 |
4 |
|
|
Branch |
Raleigh, NC |
United States |
Retail (Specialty) |
0.6 |
2 |
|
|
Subsidiary |
Rochester, IN |
United States |
Miscellaneous Fabricated Products |
16.7 |
70 |
|
|
Subsidiary |
Chung-li, Tao Yuen Hsien |
Taiwan |
Miscellaneous Capital Goods |
1.0 |
70 |
|
|
Subsidiary |
Fujisawa, Kanagawa |
Japan |
Recreational Activities |
|
60 |
|
|
Subsidiary |
Pinto, Madrid |
Spain |
Miscellaneous Capital Goods |
16.5 |
58 |
|
|
Subsidiary |
Montecchio Maggiore, Vicenza |
Italy |
Office Equipment |
25.2 |
57 |
|
|
Subsidiary |
Aulla, Massa |
Italy |
Business Services |
|
54 |
|
|
Subsidiary |
Shanghai |
China |
Engineering Consultants |
1.0 |
50 |
|
|
Subsidiary |
Nagoya, Aichi |
Japan |
Waste Management Services |
11.5 |
41 |
|
|
Joint Venture |
Seoul |
Korea, Republic of |
Miscellaneous Capital Goods |
107.3 |
40 |
|
|
Affiliates |
Bangkok |
Thailand |
Miscellaneous Capital Goods |
1.0 |
40 |
|
|
Subsidiary |
Taichung |
Taiwan |
Office Equipment |
1.0 |
35 |
|
|
Subsidiary |
Tehran |
Iran |
Miscellaneous Capital Goods |
|
35 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Office Equipment |
|
25 |
|
|
Subsidiary |
Bangkok |
Thailand |
Office Equipment |
|
25 |
|
|
Subsidiary |
Taipei |
Taiwan |
Engineering Consultants |
|
23 |
|
|
Subsidiary |
Beijing |
China |
Miscellaneous Capital Goods |
|
15 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
|
11 |
|
|
Subsidiary |
London |
United Kingdom |
Software and Programming |
|
10 |
|
|
Subsidiary |
Bayswater, VIC |
Australia |
Miscellaneous Capital Goods |
|
7 |
|
|
Joint Venture |
Laguna |
Philippines |
Real Estate Operations |
|
1 |
|
|
Subsidiary |
Sodegaura, Chiba |
Japan |
Miscellaneous Capital Goods |
417.0 |
|
|
|
Subsidiary |
Ota-Ku, Tokyo |
Japan |
Miscellaneous Capital Goods |
56.6 |
|
|
|
Subsidiary |
Pyongtaek, Kyonggi-Do |
Korea, Republic of |
Miscellaneous Capital Goods |
39.4 |
|
|
|
Subsidiary |
Shah Alam, Selangor |
Malaysia |
Miscellaneous Capital Goods |
12.2 |
|
|
|
Subsidiary |
Yingkou, Liaoning |
China |
Furniture and Fixtures |
1.0 |
|
|
|
Subsidiary |
Qingdao |
China |
Miscellaneous Capital Goods |
1.0 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Waste Management Services |
|
|
|
|
Subsidiary |
Sodegaura, Chiba |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Kunshan, Jiangsu |
China |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Shanghai |
China |
Business Services |
|
|
|
|
Subsidiary |
Jiaonan, Shandong |
China |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Fujisawa, Kanagawa |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Sodegaura, Chiba |
Japan |
Electric Utilities |
|
|
|
|
Subsidiary |
Muroran, Hokkaido |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Business Services |
|
|
Competitors Report
|
Company Name |
Location |
Employees |
Ownership |
|
ATMI Inc |
Danbury, Connecticut, United States |
814 |
Public |
|
Flowserve Corporation |
Irving, Texas, United States |
16,000 |
Public |
|
Fuji Electric Co Ltd |
Tokyo, Japan |
24,973 |
Public |
|
Hitachi, Ltd. |
Tokyo, Japan |
323,540 |
Public |
|
IHI Corporation |
Tokyo, Japan |
26,915 |
Public |
|
ITT Corporation |
White Plains, New York, United States |
8,500 |
Public |
|
Kawasaki Heavy Industries, Ltd. |
Kobe-Shi, Japan |
33,267 |
Public |
|
KSB AG |
Frankenthal, Germany |
16,018 |
Public |
|
Lam Research Corporation |
Fremont, California, United States |
6,600 |
Public |
|
Meidensha Corp |
Tokyo, Japan |
7,145 |
Public |
|
Mitsubishi Heavy Industries, Ltd. |
Tokyo, Japan |
68,887 |
Public |
|
Parker-Hannifin Corporation |
Cleveland, Ohio, United States |
59,331 |
Public |
|
Sanyo Electric Co Ltd |
Moriguchi, Osaka Pref, Japan |
92,675 |
Public |
|
Sumitomo Metal Industries Ltd |
Osaka, Japan |
23,007 |
Public |
Board of Directors
|
|
|
||||||
|
Senior Managing Executive Officer, President of Subsidiary, Director |
Director/Board Member |
||||||
|
||||||||
|
Board Member |
Director/Board Member |
|
|||||
|
Independent Director |
Director/Board Member |
|
|||||
|
||||||||
|
Managing Executive Officer, President of Wind Power and Hydropower
Machinery Company, Director |
Director/Board Member |
|
|||||
|
||||||||
|
Independent Director |
Director/Board Member |
|
|||||
|
||||||||
|
Independent Director |
Director/Board Member |
|
|||||
|
||||||||
|
Board Member |
Director/Board Member |
|
|||||
|
Managing Executive Officer, Vice President of Wind Power and
Hydropower Machinery Company, Senior Director of Production Process Reform,
Director |
Director/Board Member |
|
|||||
|
||||||||
|
Managing Executive Officer, Vice President of Wind Power and
Hydropower Machinery Company, Director |
Director/Board Member |
|
|||||
|
||||||||
|
Managing Executive Officer, Senior Director of Human Resources, Legal
Affairs and Public Relations, Director |
Director/Board Member |
|
|||||
|
||||||||
|
Board Member |
Director/Board Member |
|
|||||
|
Managing Executive Officer, President of Precision and Electronic Business
Company, Director |
Director/Board Member |
|
|||||
|
||||||||
|
Independent Director |
Director/Board Member |
|
|||||
|
||||||||
|
Managing Executive Officer, President of Environment Business Company,
Director |
Director/Board Member |
|
|||||
|
||||||||
|
President, Representative Director |
Director/Board Member |
|
|||||
|
||||||||
|
Board Member |
Director/Board Member |
|
|||||
Executives
|
|
|
||||
|
Co-Managing Executive Officer |
Chief Executive Officer |
||||
|
Co-Managing Executive Officer |
Chief Executive Officer |
||||
|
Co-Managing Executive Officer |
Chief Executive Officer |
||||
|
President, Representative Director |
President |
||||
|
||||||
|
Executive Officer-Energy |
Division Head Executive |
|
|||
|
Senior Managing Executive Officer-Human Resources |
Managing Director |
|
|||
|
Managing Executive Officer |
Managing Director |
|
|||
|
Co-Executive Officer |
Operations Executive |
|
|||
|
Co-Executive Officer |
Operations Executive |
|
|||
|
Senior Executive Officer-Environment |
Environment/Safety Executive |
|
|||
|
Executive Officer |
Administration Executive |
|
|||
|
Executive Officer, Senior Director of Accounting and Finance |
Finance Executive |
|
|||
|
Co-Auditor |
Finance Executive |
|
|||
|
Co-Auditor |
Finance Executive |
|
|||
|
Corporate Auditor |
Accounting Executive |
|
|||
|
Corporate Auditor |
Accounting Executive |
|
|||
|
Corporate Auditor |
Accounting Executive |
|
|||
|
Corporate Auditor |
Accounting Executive |
|
|||
|
Corporate Auditor |
Accounting Executive |
|
|||
|
Managing Executive Officer, Senior Director of Human Resources, Legal Affairs and Public Relations, Director |
Human Resources Executive |
|
|||
|
||||||
|
Executive Officer, Senior Director of Sales in Precision & Electronic Business Company, Manager of Equipment Sales Promotion Office |
Sales Executive |
|
|||
|
Executive Officer, Senior Director of Global Product Sales |
Sales Executive |
|
|||
|
Executive Officer-Technology |
Information Executive |
|
|||
|
Executive Officer |
Other |
|
|||
|
Executive Officer, Senior Director of Southeast Asia District, Manager of Southeast Asia Business Center |
Other |
|
|||
|
Managing Executive Officer, Senior Director of Corporate Risk Management |
Other |
|
|||
|
||||||
|
Executive Officer, Director of CMP Business in Precision & Electronic Business Company |
Other |
||||
|
Executive Officer |
Other |
||||
|
Executive Officer |
Other |
||||
|
Executive Officer, Senior Director of New Business Promotion in Precision & Electronic Business Company |
Other |
||||
|
Managing Executive Officer, Vice President of Wind Power and Hydropower Machinery Company |
Other |
||||
|
Executive Officer, Senior Director of Middle East District, Manager of Middle East Supervision Business Center |
Other |
||||
|
Executive Officer, Senior Director of Standard Pump Business |
Other |
||||
|
Executive Officer |
Other |
||||
|
Managing Executive Officer, Director of Precision Machinery Business in Precision & Electronic Business Company |
Other |
||||
|
Executive Officer, Senior Director of Planning Management in Wind Power and Hydropower Machinery Company |
Other |
||||
|
Executive Officer, Senior Director of Administration in Precision & Electronics Business Company |
Other |
||||
|
Senior Executive Officer, Senior Director of Intellectual Property, Manager of Intellectual Property Management and Trademark Office |
Other |
||||
|
Executive Officer, Senior Director of China and East Asia District, Senior Director of Business Planning & Administration, Manager of Beijing Business Center |
Other |
||||
|
Executive Officer |
Other |
||||
|
Executive Officer, Senior Director of General Product Assurance in Precision & Electronics Business Company, Manager of Fujisawa Business Center in General Affairs Supervision Unit |
Other |
||||
|
Executive Officer, Senior Director of General Affairs, Manager of Haneda Business Center |
Other |
||||
|
Executive Officer, Futtsu Plant Manager, Manager of Futtsu Business Center in General Affairs Supervision Unit |
Other |
||||
Significant Developments
Taiwan Semiconductor Manufacturing
Co., Ltd. Acquires Equipment from APPLIED MATERIALS SOUTH EAST ASIA PACIFIC LTD
and EBARA CORPORATION
Jul 10, 2012
Taiwan Semiconductor Manufacturing Co., Ltd. announced that it has acquired a set
of equipment from APPLIED MATERIALS SOUTH EAST ASIA PACIFIC LTD for NTD
526,125,000, and a set of equipment from EBARA CORPORATION for NTD 926,382,548.
Taiwan Semiconductor
Manufacturing Co., Ltd. Acquires Equipment from EBARA CORPORATION; KLA-TENCOR
CORP and FSI International INC
Jun 13, 2012
Taiwan Semiconductor Manufacturing Co., Ltd. announced that it has acquired a
set of equipment from EBARA CORPORATION. for NTD 717,230,682, and a set of
equipment from KLA-TENCOR CORP. for NTD 973,548,000, as well as a set of
equipment from FSI International INC for NTD 655,924,401.
Ebara Corporation
Amends Consolidated Full-year Outlook and Reaffirmed Year-end Dividend Outlook
for FY Ended March 2012
Apr 26, 2012
Ebara Corporation announced that it has raised its consolidated full-year
outlook for revenue from JPY 395,000 million to JPY 412,500 million, operating
profit from JPY 20,000 million to JPY 23,000 million, ordinary profit from JPY
16,000 million to JPY 21,000 million, but lowered its consolidated full-year
outlook for net profit from JPY 8,000 million to JPY 3,000 million and earning
per share from JPY 18.95 to JPY 7.11 for the fiscal year ended March 31, 2012.
The Company also reaffirmed its year-end dividend outlook of JPY 5 per share,
for the same fiscal year.
Yamato Holdings Co
Ltd.'s Subsidiary Files Lawsuit against Ebara Corporation
Mar 28, 2012
Yamato Holdings Co Ltd. announced that its subsidiary, YAMATO TRANSPORT CO.,
LTD., has filed a lawsuit with Tokyo District Court, against Ebara Corporation,
requesting the disposal of polluted ground and a damage pay of more than JPY
7,384,837,969, on March 28, 2012.
Ebara Corporation to
Merge with Wholly Owned Subsidiary
Jan 16, 2012
Ebara Corporation announced that it has decided to merge with a wholly owned
subsidiary, which is engaged in machine's design engineering business,
effective April 1, 2012. The Company will be the surviving company and the
subsidiary will be dissolved.
Taiwan Semiconductor
Manufacturing Co. Acquires Equipment
Dec 14, 2011
Taiwan Semiconductor Manufacturing Co. announced that it has acquired a set of
equipment from EBARA CORPORATION. Associates GmbH at NTD 1,164,777,051, and a
set of equipment from APPLIED MATERIALS SOUTH EAST ASIA PACIFIC LTD. at NTD
609,817,200.
Ebara Corporation to
Merge with Subsidiaries
Dec 12, 2011
Ebara Corporation announced that it has decided to merge with its two
wholly owned subsidiaries, EBARA TECHNO-SERVE CO., LTD. and EBARA-YOSHIKURA
HYDROTECH., LTD., effective April 1, 2012. After the merger, the two
subsidiaries will be dissolved. EBARA TECHNO-SERVE is engaged in the sale and
maintenance of wind and hydraulic machine as well as air conditioners, and
EBARA-YOSHIKURA HYDROTECH is engaged in the manufacture and sale of industrial
pump, the installation of industrial machinery, as well as the plant
construction related works.
Mirait Holdings
Corporation's Subsidiary to Acquire Ebara Corporation's Subsidiary
Nov 09, 2011
Mirait Holdings Corporation announced that its subsidiary has decided to
acquire 145,000 shares (72.5% stake) of a subsidiary of Ebara Corporation, in
early January 2012. After the transaction, Mirait Holdings's subsidiary will
hold a 72.5% stake in the subsidiary of Ebara Corporation, up from 0.0%.
Taiwan Semiconductor
Manufacturing Co. Acquires Equipment
Nov 04, 2011
Taiwan Semiconductor Manufacturing Co. announced that it has acquired a set of
equipment from HITACHI HIGH-TECHNOLOGIES CORPORATION for NTD 863,796,000, a set
of equipment from KLA-TENCOR CORP. for NTD 522,828,570, and a set of equipment
from EBARA CORPORATION 511,088,944.
Ebara Corporation
Lowers Consolidated Mid-year Outlook for FY Ending March 2012
Oct 28, 2011
Ebara Corporation announced that it has lowered its consolidated mid-year
outlook for revenue from JPY 180,000 million to JPY 175,900 million, operating
profit from JPY 9,000 million to JPY 3,000 million, ordinary profit from JPY
7,500 million to JPY 100 million, net profit (loss) from JPY 4,000 million to
JPY (300 million) and earning per share (loss) from JPY 9.48 to JPY (0.71) for
the fiscal year ending March 2012. This is due to the decreased sale of wind
and water power, engineering and precise electronic businesses, as well as the
loss on construction works.
R&I Upgrades
Rating on Ebara Corporation to "BBB"; Rating Outlook Stable
Oct 27, 2011
Rating and Investment Information, Inc. (R&I) announced that it has
upgraded the rating on Ebara Corporation from "BBB-" to
"BBB". The rating outlook is stable.
News
|
Tokyo Stock
Exchange: closing price list -2- |
18-Oct-2012 |
|
Tokyo Stock
Exchange: morning price list -2- |
17-Oct-2012 |
|
Tokyo Stock
Exchange: closing price list -2- |
17-Oct-2012 |
|
Tokyo Stock
Exchange: morning price list -2- |
16-Oct-2012 |
|
Norwin task
force to study district's budgeting |
16-Oct-2012 |
|
Tokyo Stock
Exchange: closing price list -2- |
16-Oct-2012 |
|
Tokyo Stock
Exchange: morning price list -2- |
15-Oct-2012 |
|
Reports
Outline Pharmaceutical Science Research from Hoshi University |
10-Oct-2012 |
|
Thin
Wafers, Temporary Bonding Equipment & Materials Market |
09-Oct-2012 |
|
Tokyo Stock
Exchange: morning price list -2- |
08-Oct-2012 |
Articles
Annual
Income Statement
Financials
in: USD (mil)
Except
for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Hijiribashi
Audit Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
5,218.7 |
4,687.5 |
5,227.9 |
4,987.3 |
4,962.2 |
|
Revenue |
5,218.7 |
4,687.5 |
5,227.9 |
4,987.3 |
4,962.2 |
|
Total Revenue |
5,218.7 |
4,687.5 |
5,227.9 |
4,987.3 |
4,962.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
4,039.2 |
3,520.3 |
4,190.1 |
4,138.2 |
4,164.0 |
|
Cost of Revenue, Total |
4,039.2 |
3,520.3 |
4,190.1 |
4,138.2 |
4,164.0 |
|
Gross Profit |
1,179.6 |
1,167.2 |
1,037.8 |
849.1 |
798.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
347.7 |
304.3 |
300.6 |
331.3 |
299.2 |
|
Labor & Related Expense |
435.0 |
399.1 |
424.7 |
381.4 |
363.6 |
|
Advertising Expense |
18.6 |
17.1 |
15.6 |
9.8 |
11.5 |
|
Total Selling/General/Administrative Expenses |
801.3 |
720.5 |
740.9 |
722.4 |
674.3 |
|
Research & Development |
48.5 |
47.4 |
53.6 |
87.9 |
94.6 |
|
Depreciation |
32.1 |
27.9 |
30.7 |
25.4 |
24.2 |
|
Amortization of Acquisition Costs |
3.0 |
3.1 |
8.6 |
7.1 |
5.7 |
|
Depreciation/Amortization |
35.1 |
31.0 |
39.4 |
32.5 |
29.9 |
|
Litigation |
- |
- |
0.0 |
0.0 |
4.4 |
|
Impairment-Assets Held for Use |
3.4 |
6.9 |
18.5 |
49.7 |
28.6 |
|
Impairment-Assets Held for Sale |
2.0 |
7.5 |
4.5 |
42.8 |
9.1 |
|
Other Unusual Expense (Income) |
130.4 |
10.1 |
-9.6 |
-38.4 |
261.3 |
|
Unusual Expense (Income) |
135.8 |
24.5 |
13.4 |
54.1 |
303.4 |
|
Total Operating Expense |
5,059.9 |
4,343.8 |
5,037.4 |
5,035.1 |
5,266.2 |
|
|
|
|
|
|
|
|
Operating Income |
158.8 |
343.6 |
190.6 |
-47.7 |
-304.0 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-31.8 |
-35.3 |
-38.4 |
-31.7 |
-34.9 |
|
Interest Expense, Net Non-Operating |
-31.8 |
-35.3 |
-38.4 |
-31.7 |
-34.9 |
|
Interest Income -
Non-Operating |
2.4 |
2.4 |
4.1 |
7.0 |
6.1 |
|
Investment Income -
Non-Operating |
3.8 |
22.8 |
-51.4 |
5.6 |
8.4 |
|
Interest/Investment Income - Non-Operating |
6.2 |
25.1 |
-47.3 |
12.7 |
14.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
-25.6 |
-10.2 |
-85.6 |
-19.0 |
-20.4 |
|
Gain (Loss) on Sale of Assets |
2.1 |
7.7 |
18.3 |
2.5 |
633.0 |
|
Other Non-Operating Income (Expense) |
2.3 |
-7.9 |
5.6 |
-8.7 |
-14.8 |
|
Other, Net |
2.3 |
-7.9 |
5.6 |
-8.7 |
-14.8 |
|
Income Before Tax |
137.6 |
333.3 |
128.9 |
-73.0 |
293.9 |
|
|
|
|
|
|
|
|
Total Income Tax |
87.8 |
-3.8 |
63.7 |
73.9 |
232.1 |
|
Income After Tax |
49.8 |
337.0 |
65.2 |
-146.9 |
61.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-13.2 |
-7.9 |
-6.6 |
16.4 |
4.8 |
|
Net Income Before Extraord Items |
36.6 |
329.1 |
58.6 |
-130.4 |
66.6 |
|
Net Income |
36.6 |
329.1 |
58.6 |
-130.4 |
66.6 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Total Adjustments to Net Income |
0.0 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available to Common Excl Extraord Items |
36.6 |
329.0 |
58.5 |
-130.5 |
66.6 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
36.6 |
329.0 |
58.5 |
-130.5 |
66.6 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
422.2 |
422.1 |
422.3 |
422.4 |
422.5 |
|
Basic EPS Excl Extraord Items |
0.09 |
0.78 |
0.14 |
-0.31 |
0.16 |
|
Basic/Primary EPS Incl Extraord Items |
0.09 |
0.78 |
0.14 |
-0.31 |
0.16 |
|
Dilution Adjustment |
2.0 |
2.8 |
2.6 |
0.0 |
2.1 |
|
Diluted Net Income |
38.5 |
331.7 |
61.1 |
-130.5 |
68.6 |
|
Diluted Weighted Average Shares |
452.8 |
481.1 |
480.5 |
422.4 |
480.2 |
|
Diluted EPS Excl Extraord Items |
0.09 |
0.69 |
0.13 |
-0.31 |
0.14 |
|
Diluted EPS Incl Extraord Items |
0.09 |
0.69 |
0.13 |
-0.31 |
0.14 |
|
Dividends per Share - Common Stock Primary Issue |
0.06 |
0.06 |
0.00 |
0.00 |
0.07 |
|
Gross Dividends - Common Stock |
26.7 |
24.6 |
0.0 |
0.0 |
27.7 |
|
Interest Expense, Supplemental |
31.8 |
35.3 |
38.4 |
31.7 |
34.9 |
|
Depreciation, Supplemental |
161.6 |
157.8 |
164.3 |
151.1 |
134.0 |
|
Total Special Items |
136.7 |
19.9 |
3.7 |
58.7 |
-323.9 |
|
Normalized Income Before Tax |
274.3 |
353.2 |
132.6 |
-14.3 |
-30.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
46.8 |
5.9 |
-2.4 |
18.1 |
-115.4 |
|
Inc Tax Ex Impact of Sp Items |
134.6 |
2.1 |
61.3 |
92.0 |
116.7 |
|
Normalized Income After Tax |
139.7 |
351.1 |
71.3 |
-106.2 |
-146.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
126.5 |
343.0 |
64.7 |
-89.8 |
-142.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.30 |
0.81 |
0.15 |
-0.21 |
-0.34 |
|
Diluted Normalized EPS |
0.28 |
0.72 |
0.14 |
-0.21 |
-0.29 |
|
Amort of Acquisition Costs, Supplemental |
3.0 |
3.1 |
8.6 |
7.1 |
5.7 |
|
Advertising Expense, Supplemental |
18.6 |
17.1 |
15.6 |
9.8 |
11.5 |
|
Research & Development Exp, Supplemental |
48.5 |
47.4 |
53.6 |
87.9 |
94.6 |
|
Reported Operating Profit |
294.7 |
368.1 |
203.9 |
6.3 |
52.6 |
|
Reported Ordinary Profit |
267.0 |
335.5 |
180.2 |
-23.7 |
24.1 |
|
Normalized EBIT |
294.7 |
368.2 |
204.0 |
6.4 |
-0.6 |
|
Normalized EBITDA |
459.3 |
529.1 |
377.0 |
164.5 |
139.1 |
|
Current Tax - Total |
42.2 |
- |
- |
- |
- |
|
Current Tax - Total |
42.2 |
- |
- |
- |
- |
|
Deferred Tax - Total |
45.6 |
- |
- |
- |
- |
|
Deferred Tax - Total |
45.6 |
- |
- |
- |
- |
|
Income Tax - Total |
87.8 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
22.0 |
22.0 |
23.7 |
21.7 |
22.8 |
|
Service Cost - Domestic |
36.0 |
34.1 |
31.1 |
32.0 |
37.1 |
|
Prior Service Cost - Domestic |
0.9 |
0.4 |
0.5 |
0.2 |
0.1 |
|
Expected Return on Assets - Domestic |
-12.9 |
-10.2 |
-2.5 |
-16.1 |
-20.6 |
|
Actuarial Gains and Losses - Domestic |
9.8 |
5.7 |
15.3 |
5.3 |
4.0 |
|
Other Pension, Net - Domestic |
9.5 |
9.0 |
6.5 |
1.8 |
13.1 |
|
Domestic Pension Plan Expense |
65.2 |
61.0 |
74.5 |
45.0 |
56.5 |
|
Total Pension Expense |
65.2 |
61.0 |
74.5 |
45.0 |
56.5 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount Rate - Foreign |
4.40% |
5.40% |
5.80% |
6.30% |
5.80% |
|
Expected Rate of Return - Domestic |
2.70% |
2.70% |
2.70% |
2.70% |
2.70% |
|
Expected Rate of Return - Foreign |
8.00% |
8.00% |
8.00% |
8.00% |
8.00% |
|
Total Plan Interest Cost |
22.0 |
22.0 |
23.7 |
21.7 |
22.8 |
|
Total Plan Service Cost |
36.0 |
34.1 |
31.1 |
32.0 |
37.1 |
|
Total Plan Expected Return |
-12.9 |
-10.2 |
-2.5 |
-16.1 |
-20.6 |
|
Total Plan Other Expense |
9.5 |
9.0 |
6.5 |
1.8 |
13.1 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Hijiribashi
Audit Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
1,031.2 |
1,214.7 |
857.1 |
769.8 |
705.8 |
|
Short Term Investments |
34.7 |
40.1 |
17.4 |
11.7 |
190.0 |
|
Cash and Short Term Investments |
1,065.9 |
1,254.9 |
874.5 |
781.5 |
895.8 |
|
Accounts Receivable -
Trade, Gross |
1,954.2 |
1,948.7 |
1,753.3 |
1,890.3 |
2,168.0 |
|
Provision for Doubtful
Accounts |
-13.4 |
-17.5 |
-11.0 |
-11.4 |
-6.4 |
|
Trade Accounts Receivable - Net |
1,940.7 |
1,931.3 |
1,742.3 |
1,878.9 |
2,161.6 |
|
Total Receivables, Net |
1,940.7 |
1,931.3 |
1,742.3 |
1,878.9 |
2,161.6 |
|
Inventories - Finished Goods |
128.9 |
96.4 |
118.1 |
102.1 |
137.0 |
|
Inventories - Work In Progress |
486.9 |
487.6 |
430.8 |
419.0 |
419.9 |
|
Inventories - Raw Materials |
230.3 |
222.9 |
198.2 |
243.2 |
258.7 |
|
Total Inventory |
846.1 |
806.9 |
747.1 |
764.2 |
815.6 |
|
Deferred Income Tax - Current Asset |
139.8 |
300.7 |
156.9 |
88.6 |
121.3 |
|
Other Current Assets |
210.3 |
199.8 |
480.4 |
338.4 |
194.6 |
|
Other Current Assets, Total |
350.1 |
500.5 |
637.2 |
426.9 |
315.9 |
|
Total Current Assets |
4,202.8 |
4,493.5 |
4,001.1 |
3,851.6 |
4,188.8 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
1,081.6 |
1,082.5 |
1,046.4 |
981.8 |
1,033.5 |
|
Goodwill, Net |
10.4 |
14.3 |
18.4 |
18.4 |
34.9 |
|
Intangibles, Net |
57.1 |
73.0 |
77.7 |
84.1 |
72.5 |
|
LT Investment - Affiliate Companies |
87.8 |
87.4 |
75.8 |
112.6 |
114.7 |
|
LT Investments - Other |
192.8 |
180.5 |
173.0 |
95.5 |
159.7 |
|
Long Term Investments |
280.6 |
267.9 |
248.8 |
208.0 |
274.4 |
|
Note Receivable - Long Term |
8.9 |
4.8 |
5.3 |
81.0 |
65.1 |
|
Deferred Income Tax - Long Term Asset |
232.0 |
102.2 |
111.6 |
174.1 |
132.8 |
|
Other Long Term Assets |
61.7 |
89.8 |
82.7 |
295.5 |
296.3 |
|
Other Long Term Assets, Total |
293.7 |
192.0 |
194.4 |
469.6 |
429.2 |
|
Total Assets |
5,935.1 |
6,128.0 |
5,592.1 |
5,694.5 |
6,098.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,282.2 |
1,193.6 |
1,067.9 |
1,328.1 |
1,514.7 |
|
Accrued Expenses |
76.9 |
78.4 |
57.1 |
67.4 |
75.5 |
|
Notes Payable/Short Term Debt |
963.5 |
645.8 |
601.0 |
674.3 |
547.5 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
420.6 |
205.8 |
357.8 |
226.9 |
|
Income Taxes Payable |
40.3 |
57.4 |
43.0 |
42.6 |
54.9 |
|
Deferred Income Tax - Current Liability |
0.2 |
0.4 |
0.3 |
0.9 |
1.1 |
|
Other Current Liabilities |
675.5 |
741.8 |
835.9 |
860.1 |
694.4 |
|
Other Current liabilities, Total |
716.0 |
799.6 |
879.3 |
903.5 |
750.5 |
|
Total Current Liabilities |
3,038.7 |
3,138.0 |
2,811.1 |
3,331.1 |
3,115.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
760.3 |
852.5 |
1,083.1 |
795.3 |
1,078.8 |
|
Capital Lease Obligations |
- |
- |
- |
10.7 |
0.0 |
|
Total Long Term Debt |
760.3 |
852.5 |
1,083.1 |
806.0 |
1,078.8 |
|
Total Debt |
1,723.8 |
1,918.9 |
1,889.9 |
1,838.1 |
1,853.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
3.1 |
0.5 |
0.6 |
8.7 |
9.6 |
|
Deferred Income Tax |
3.1 |
0.5 |
0.6 |
8.7 |
9.6 |
|
Minority Interest |
38.3 |
31.7 |
29.5 |
28.9 |
40.4 |
|
Reserves |
21.8 |
21.3 |
0.0 |
28.5 |
28.2 |
|
Pension Benefits - Underfunded |
185.1 |
193.5 |
225.4 |
237.8 |
282.1 |
|
Other Long Term Liabilities |
48.8 |
52.8 |
52.1 |
24.2 |
24.7 |
|
Other Liabilities, Total |
255.7 |
267.7 |
277.5 |
290.5 |
335.0 |
|
Total Liabilities |
4,096.2 |
4,290.3 |
4,201.8 |
4,465.2 |
4,578.8 |
|
|
|
|
|
|
|
|
Common Stock |
744.2 |
739.4 |
655.9 |
620.5 |
615.7 |
|
Common Stock |
744.2 |
739.4 |
655.9 |
620.5 |
615.7 |
|
Additional Paid-In Capital |
797.2 |
791.2 |
699.0 |
660.2 |
655.2 |
|
Retained Earnings (Accumulated Deficit) |
506.8 |
491.8 |
134.5 |
74.1 |
243.7 |
|
Treasury Stock - Common |
-3.4 |
-3.2 |
-2.3 |
-1.5 |
-1.3 |
|
Unrealized Gain (Loss) |
13.6 |
12.6 |
16.9 |
2.6 |
29.4 |
|
Translation Adjustment |
-219.6 |
-194.1 |
-113.6 |
-126.7 |
-23.1 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Equity, Total |
-219.6 |
-194.1 |
-113.6 |
-126.7 |
-23.1 |
|
Total Equity |
1,838.9 |
1,837.8 |
1,390.3 |
1,229.2 |
1,519.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
5,935.1 |
6,128.0 |
5,592.1 |
5,694.5 |
6,098.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
422.2 |
422.1 |
422.2 |
422.4 |
422.5 |
|
Total Common Shares Outstanding |
422.2 |
422.1 |
422.2 |
422.4 |
422.5 |
|
Treasury Shares - Common Stock Primary Issue |
0.7 |
37.2 |
0.5 |
0.3 |
0.3 |
|
Employees |
14,695 |
14,007 |
13,800 |
16,102 |
16,074 |
|
Number of Common Shareholders |
41,521 |
41,175 |
42,911 |
50,459 |
49,960 |
|
Total Long Term Debt, Supplemental |
1,058.7 |
1,273.1 |
1,280.6 |
1,149.2 |
1,305.7 |
|
Long Term Debt Maturing within 1 Year |
299.2 |
420.6 |
197.5 |
353.9 |
226.9 |
|
Long Term Debt Maturing in Year 2 |
408.9 |
293.8 |
361.0 |
138.9 |
344.9 |
|
Long Term Debt Maturing in Year 3 |
98.3 |
402.7 |
250.1 |
264.3 |
148.3 |
|
Long Term Debt Maturing in Year 4 |
40.2 |
91.0 |
345.0 |
147.4 |
219.5 |
|
Long Term Debt Maturing in Year 5 |
212.1 |
36.9 |
71.2 |
229.2 |
143.4 |
|
Long Term Debt Maturing in 2-3 Years |
507.2 |
696.5 |
611.1 |
403.2 |
493.2 |
|
Long Term Debt Maturing in 4-5 Years |
252.2 |
127.9 |
416.1 |
376.6 |
362.9 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
28.1 |
55.9 |
15.5 |
222.7 |
|
Total Capital Leases, Supplemental |
19.4 |
16.6 |
21.9 |
14.6 |
- |
|
Capital Lease Payments Due in Year 1 |
7.9 |
5.7 |
8.3 |
3.9 |
- |
|
Capital Lease Payments Due in Year 2 |
5.9 |
5.1 |
4.8 |
3.5 |
- |
|
Capital Lease Payments Due in Year 3 |
3.7 |
3.4 |
4.2 |
2.8 |
- |
|
Capital Lease Payments Due in Year 4 |
1.2 |
2.1 |
2.6 |
2.3 |
- |
|
Capital Lease Payments Due in Year 5 |
0.5 |
0.3 |
1.6 |
1.3 |
- |
|
Capital Lease Payments Due in 2-3 Years |
9.6 |
8.5 |
9.0 |
6.3 |
- |
|
Capital Lease Payments Due in 4-5 Years |
1.7 |
2.4 |
4.2 |
3.6 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.2 |
0.0 |
0.3 |
0.8 |
- |
|
Pension Obligation - Domestic |
662.3 |
673.7 |
672.2 |
694.5 |
874.8 |
|
Plan Assets - Domestic |
433.2 |
431.2 |
410.7 |
382.5 |
569.7 |
|
Funded Status - Domestic |
-229.1 |
-242.5 |
-261.5 |
-311.9 |
-305.1 |
|
Total Funded Status |
-229.1 |
-242.5 |
-261.5 |
-311.9 |
-305.1 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount Rate - Foreign |
4.40% |
5.40% |
5.80% |
6.30% |
5.80% |
|
Expected Rate of Return - Domestic |
2.70% |
2.70% |
2.70% |
2.70% |
2.70% |
|
Expected Rate of Return - Foreign |
8.00% |
8.00% |
8.00% |
8.00% |
8.00% |
|
Accrued Liabilities - Domestic |
-182.6 |
-189.2 |
-221.6 |
-230.7 |
-276.2 |
|
Other Assets, Net - Domestic |
-46.4 |
53.3 |
39.9 |
-81.2 |
-28.8 |
|
Net Assets Recognized on Balance Sheet |
-229.1 |
-135.9 |
-181.7 |
-311.9 |
-305.0 |
|
Total Plan Obligations |
662.3 |
673.7 |
672.2 |
694.5 |
874.8 |
|
Total Plan Assets |
433.2 |
431.2 |
410.7 |
382.5 |
569.7 |
Annual
Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Hijiribashi
Audit Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
137.6 |
333.1 |
128.8 |
-73.1 |
293.8 |
|
Depreciation |
161.6 |
157.8 |
164.3 |
151.1 |
134.0 |
|
Depreciation/Depletion |
161.6 |
157.8 |
164.3 |
151.1 |
134.0 |
|
Unusual Items |
-5.0 |
-10.7 |
33.3 |
25.6 |
-680.4 |
|
Other Non-Cash Items |
-25.5 |
-93.1 |
28.1 |
40.3 |
279.9 |
|
Non-Cash Items |
-30.4 |
-103.8 |
61.3 |
65.9 |
-400.5 |
|
Accounts Receivable |
-35.9 |
-2.8 |
-34.3 |
245.0 |
-14.2 |
|
Inventories |
-42.9 |
14.4 |
78.1 |
29.4 |
95.4 |
|
Accounts Payable |
109.1 |
14.7 |
-159.6 |
-162.1 |
-117.0 |
|
Other Assets & Liabilities, Net |
-35.9 |
9.6 |
94.4 |
45.5 |
22.5 |
|
Other Operating Cash Flow |
-99.8 |
-112.5 |
-79.3 |
-128.2 |
-67.7 |
|
Changes in Working Capital |
-105.5 |
-76.7 |
-100.8 |
29.7 |
-81.1 |
|
Cash from Operating Activities |
163.3 |
310.4 |
253.7 |
173.5 |
-53.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-128.3 |
-170.9 |
-208.4 |
-236.5 |
-146.4 |
|
Capital Expenditures |
-128.3 |
-170.9 |
-208.4 |
-236.5 |
-146.4 |
|
Sale of Business |
11.0 |
0.0 |
20.8 |
0.0 |
7.7 |
|
Sale of Fixed Assets |
3.1 |
204.4 |
5.5 |
63.2 |
562.4 |
|
Sale/Maturity of Investment |
48.4 |
23.2 |
1.1 |
213.4 |
44.1 |
|
Purchase of Investments |
-49.5 |
-6.7 |
-0.5 |
-38.3 |
-184.7 |
|
Other Investing Cash Flow |
3.4 |
78.3 |
-2.7 |
-29.4 |
-5.2 |
|
Other Investing Cash Flow Items, Total |
16.4 |
299.2 |
24.1 |
208.9 |
424.3 |
|
Cash from Investing Activities |
-111.9 |
128.3 |
-184.3 |
-27.6 |
277.9 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-12.8 |
4.2 |
-21.0 |
7.2 |
5.7 |
|
Financing Cash Flow Items |
-12.8 |
4.2 |
-21.0 |
7.2 |
5.7 |
|
Cash Dividends Paid - Common |
-26.7 |
- |
0.0 |
-31.5 |
-27.7 |
|
Total Cash Dividends Paid |
-26.7 |
- |
0.0 |
-31.5 |
-27.7 |
|
Repurchase/Retirement
of Common |
-0.2 |
-0.5 |
-0.8 |
0.0 |
-0.3 |
|
Common Stock, Net |
-0.2 |
-0.5 |
-0.8 |
0.0 |
-0.3 |
|
Issuance (Retirement) of Stock, Net |
-0.2 |
-0.5 |
-0.8 |
0.0 |
-0.3 |
|
Short Term Debt Issued |
- |
- |
264.1 |
296.2 |
1,169.9 |
|
Short Term Debt
Reduction |
- |
- |
-530.6 |
-164.4 |
-1,343.4 |
|
Short Term Debt, Net |
16.9 |
-10.8 |
-266.4 |
131.8 |
-173.5 |
|
Long Term Debt Issued |
206.0 |
57.2 |
453.0 |
86.9 |
136.4 |
|
Long Term Debt
Reduction |
-436.5 |
-214.5 |
-223.2 |
-226.5 |
-131.3 |
|
Long Term Debt, Net |
-230.5 |
-157.3 |
229.8 |
-139.6 |
5.1 |
|
Issuance (Retirement) of Debt, Net |
-213.5 |
-168.1 |
-36.7 |
-7.8 |
-168.4 |
|
Cash from Financing Activities |
-253.3 |
-164.5 |
-58.5 |
-32.2 |
-190.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-9.8 |
-14.2 |
3.9 |
-33.8 |
-6.5 |
|
Net Change in Cash |
-211.6 |
260.1 |
14.8 |
80.0 |
26.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,317.1 |
953.5 |
864.3 |
688.3 |
578.2 |
|
Net Cash - Ending Balance |
1,105.5 |
1,213.7 |
879.2 |
768.2 |
605.1 |
|
Cash Interest Paid |
32.3 |
35.9 |
36.6 |
34.2 |
36.2 |
|
Cash Taxes Paid |
81.8 |
85.1 |
57.4 |
97.7 |
44.1 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Hijiribashi Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net sales |
5,218.7 |
4,687.5 |
5,227.9 |
4,987.3 |
4,962.2 |
|
Total Revenue |
5,218.7 |
4,687.5 |
5,227.9 |
4,987.3 |
4,962.2 |
|
|
|
|
|
|
|
|
Total |
4,039.2 |
3,520.3 |
4,190.1 |
4,138.2 |
4,110.7 |
|
Other
Selling/General/Admin. Expense |
0.1 |
- |
- |
- |
- |
|
Commission
expenses |
52.0 |
50.0 |
50.1 |
55.8 |
43.2 |
|
Packing &
freight-out costs |
59.9 |
43.7 |
41.4 |
43.1 |
44.4 |
|
Sales promotion
expenses |
18.6 |
17.1 |
15.6 |
9.8 |
11.5 |
|
Provision for
doubtful accounts(SGA) |
14.7 |
7.9 |
0.0 |
13.0 |
1.8 |
|
Labor cost |
375.8 |
344.5 |
364.8 |
342.4 |
328.7 |
|
Provision for
bonuses |
29.2 |
26.1 |
20.5 |
13.1 |
10.7 |
|
Provision for
directors'' bonuses |
1.1 |
1.7 |
0.9 |
0.5 |
0.8 |
|
Periodic
retirement benefit costs |
27.8 |
25.3 |
37.0 |
23.1 |
22.4 |
|
Provision for
directors'' retirement ben |
1.0 |
1.4 |
1.6 |
2.3 |
1.1 |
|
Traveling exp. |
39.7 |
35.8 |
32.4 |
35.5 |
37.2 |
|
Taxes, other than
income taxes |
17.0 |
15.0 |
16.2 |
16.0 |
15.7 |
|
Depreciation |
32.1 |
27.9 |
30.7 |
25.4 |
24.2 |
|
Amort.Goodwill |
3.0 |
3.1 |
8.6 |
7.1 |
5.7 |
|
Research&Develop |
48.5 |
47.4 |
53.6 |
87.9 |
94.6 |
|
Other SGA |
164.3 |
151.9 |
160.5 |
167.8 |
156.8 |
|
Loss on business
withdrawal |
130.4 |
- |
- |
- |
- |
|
SP Reversal
valuation investment gain |
- |
- |
0.0 |
-0.1 |
-1.2 |
|
SP
Rvrsl.Doubt.Acct |
- |
0.0 |
-5.0 |
-31.2 |
0.0 |
|
SP G on Reserve
for debts guarantees |
- |
0.0 |
-0.1 |
0.0 |
-0.6 |
|
SP Recovery of bad
debts |
- |
- |
0.0 |
0.0 |
-2.0 |
|
SP Reversal G on
special retire. |
- |
- |
0.0 |
-8.0 |
0.0 |
|
SP G on change of
retire. accounting |
- |
-0.4 |
-2.6 |
-6.5 |
0.0 |
|
SP G on changes of
contract accounting |
- |
0.0 |
-3.1 |
0.0 |
- |
|
SP Gain on debts waive |
- |
0.0 |
-5.1 |
0.0 |
- |
|
Loss on
abandonment of noncurrent assets |
1.8 |
6.1 |
16.1 |
16.5 |
20.7 |
|
SP Impairment Loss |
1.6 |
0.9 |
2.4 |
33.2 |
7.9 |
|
SP Loss Val.
Inv.Secs |
1.8 |
6.7 |
4.5 |
42.8 |
9.1 |
|
SP Loss on valuation
of membership |
0.3 |
0.8 |
0.0 |
- |
- |
|
SP Valuation
Loss-Inventory |
- |
- |
- |
0.0 |
53.3 |
|
SP Reserve-Debt
Guarantee Loss |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP Anti-trust loss |
- |
- |
0.0 |
0.0 |
0.1 |
|
SP Reserve Anti-trust
loss |
- |
- |
- |
0.0 |
2.6 |
|
SP L on specific
constr. |
- |
- |
- |
0.0 |
46.2 |
|
SP L. res. for
specif. constr. |
- |
- |
- |
0.0 |
119.5 |
|
SP L on pause of
specific project |
- |
- |
0.0 |
2.5 |
86.3 |
|
SP Prior year porfit
adjust loss |
- |
- |
- |
- |
0.0 |
|
SP Loss-Lawsuit |
- |
- |
- |
- |
0.0 |
|
SP Reserve
litigation loss |
- |
- |
- |
0.0 |
1.7 |
|
SP Special
Retirement |
- |
0.0 |
6.3 |
0.0 |
13.1 |
|
SP L on changes of
Assets accounting |
- |
10.6 |
0.0 |
- |
- |
|
SP Compensation |
- |
- |
0.0 |
5.0 |
0.0 |
|
SP
Reserve-Investment Valuation Loss |
- |
- |
- |
- |
0.0 |
|
Total Operating
Expense |
5,059.9 |
4,343.8 |
5,037.4 |
5,035.1 |
5,266.2 |
|
|
|
|
|
|
|
|
NOP Interest Income |
2.4 |
2.4 |
4.1 |
7.0 |
6.1 |
|
Loss On Sales Of
Investment Securities |
-0.5 |
- |
- |
- |
- |
|
NOP Dividend
Income |
7.9 |
7.6 |
4.6 |
14.3 |
13.3 |
|
Other
Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Insurance Income |
1.2 |
0.4 |
3.2 |
0.5 |
1.6 |
|
NOP Exchange Gain |
- |
- |
- |
0.0 |
0.6 |
|
NOP Equity Gain |
11.5 |
8.9 |
0.9 |
0.3 |
1.1 |
|
NOP Compensation
received |
- |
0.0 |
6.2 |
0.0 |
- |
|
NOP Other Non-Op
Income |
15.1 |
12.2 |
15.3 |
10.2 |
11.4 |
|
NOP Interest
Expense |
-31.8 |
-35.3 |
-38.4 |
-31.7 |
-34.9 |
|
NOP Allowance
Doubtful Accounts |
- |
- |
0.0 |
-1.0 |
-7.2 |
|
NOP Exchange Loss |
-19.9 |
-8.3 |
-0.6 |
-11.3 |
0.0 |
|
NOP Equity Loss |
- |
- |
- |
- |
0.0 |
|
NOP Other Non-Op
Exp. |
-14.0 |
-20.5 |
-19.1 |
-18.5 |
-20.6 |
|
SP Gain Sales
F.Asset |
0.5 |
12.0 |
12.5 |
3.4 |
633.5 |
|
SP G.Sales Invest
Secs |
1.1 |
0.9 |
0.0 |
0.9 |
15.1 |
|
Gain on sales of
subsidiaries and affili |
5.8 |
13.6 |
37.2 |
4.4 |
- |
|
SP Gain on sale of
business |
1.9 |
0.0 |
6.9 |
0.0 |
- |
|
SP Loss Sales
F.Asset |
-0.3 |
-4.3 |
-1.1 |
-0.9 |
-0.5 |
|
SP L on sales of
investment securities |
- |
0.0 |
0.0 |
-0.1 |
-4.2 |
|
SP Affiliate
Liquidated |
-2.1 |
0.0 |
-14.3 |
-2.9 |
-17.5 |
|
SP Loss on
business withdrawal |
- |
0.0 |
- |
- |
- |
|
SP Loss-sale of
affiliated securities |
- |
0.0 |
-79.2 |
0.0 |
- |
|
Net Income
Before Taxes |
137.6 |
333.3 |
128.9 |
-73.0 |
293.9 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
87.8 |
-3.8 |
63.7 |
73.9 |
232.1 |
|
Net Income After
Taxes |
49.8 |
337.0 |
65.2 |
-146.9 |
61.8 |
|
|
|
|
|
|
|
|
Minority interests
in income |
-13.2 |
-7.9 |
-6.6 |
16.4 |
4.8 |
|
Net Income
Before Extra. Items |
36.6 |
329.1 |
58.6 |
-130.4 |
66.6 |
|
Net Income |
36.6 |
329.1 |
58.6 |
-130.4 |
66.6 |
|
|
|
|
|
|
|
|
Miscellaneous
Earnings Adjustment |
0.0 |
- |
- |
- |
- |
|
Earning Adjustment |
- |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Income Available
to Com Excl ExtraOrd |
36.6 |
329.0 |
58.5 |
-130.5 |
66.6 |
|
|
|
|
|
|
|
|
Income Available
to Com Incl ExtraOrd |
36.6 |
329.0 |
58.5 |
-130.5 |
66.6 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
422.2 |
422.1 |
422.3 |
422.4 |
422.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.09 |
0.78 |
0.14 |
-0.31 |
0.16 |
|
Basic EPS Including ExtraOrdinary Item |
0.09 |
0.78 |
0.14 |
-0.31 |
0.16 |
|
Dilution Adjustment |
2.0 |
2.8 |
2.6 |
0.0 |
2.1 |
|
Diluted Net Income |
38.5 |
331.7 |
61.1 |
-130.5 |
68.6 |
|
Diluted Weighted Average Shares |
452.8 |
481.1 |
480.5 |
422.4 |
480.2 |
|
Diluted EPS Excluding ExtraOrd Items |
0.09 |
0.69 |
0.13 |
-0.31 |
0.14 |
|
Diluted EPS Including ExtraOrd Items |
0.09 |
0.69 |
0.13 |
-0.31 |
0.14 |
|
DPS-Common Stock |
0.06 |
0.06 |
0.00 |
0.00 |
0.07 |
|
Gross Dividends - Common Stock |
26.7 |
24.6 |
0.0 |
0.0 |
27.7 |
|
Normalized
Income Before Taxes |
274.3 |
353.2 |
132.6 |
-14.3 |
-30.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
134.6 |
2.1 |
61.3 |
92.0 |
116.7 |
|
Normalized
Income After Taxes |
139.7 |
351.1 |
71.3 |
-106.2 |
-146.7 |
|
|
|
|
|
|
|
|
Normalized Inc.
Avail to Com. |
126.5 |
343.0 |
64.7 |
-89.8 |
-142.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.30 |
0.81 |
0.15 |
-0.21 |
-0.34 |
|
Diluted Normalized EPS |
0.28 |
0.72 |
0.14 |
-0.21 |
-0.29 |
|
Search And Development Expense(general) |
48.5 |
47.4 |
53.6 |
87.9 |
94.6 |
|
Sales promotion expenses |
18.6 |
17.1 |
15.6 |
9.8 |
11.5 |
|
Interest Expense |
31.8 |
35.3 |
38.4 |
31.7 |
34.9 |
|
Amort of Goodwill |
3.0 |
3.1 |
8.6 |
7.1 |
5.7 |
|
Amort of Tangible Assets-Current Portion |
161.6 |
- |
- |
- |
- |
|
Depreciation |
- |
157.8 |
164.3 |
151.1 |
134.0 |
|
Income
taxes-current |
42.2 |
- |
- |
- |
- |
|
Current Tax - Total |
42.2 |
- |
- |
- |
- |
|
Income
taxes-deferred |
45.6 |
- |
- |
- |
- |
|
Deferred Tax - Total |
45.6 |
- |
- |
- |
- |
|
Income Tax - Total |
87.8 |
- |
- |
- |
- |
|
Reported operating profit |
294.7 |
368.1 |
203.9 |
6.3 |
52.6 |
|
Reported ordinary profit |
267.0 |
335.5 |
180.2 |
-23.7 |
24.1 |
|
Service cost |
36.0 |
34.1 |
31.1 |
32.0 |
37.1 |
|
Interest cost |
22.0 |
22.0 |
23.7 |
21.7 |
22.8 |
|
Expected return on plan asset |
-12.9 |
-10.2 |
-2.5 |
-16.1 |
-20.6 |
|
Piror service cost |
0.9 |
0.4 |
0.5 |
0.2 |
0.1 |
|
Actuarial G/L |
9.8 |
5.7 |
15.3 |
5.3 |
4.0 |
|
Additional Retire. Benefits, Nonrecurr. |
0.3 |
0.2 |
1.5 |
- |
13.1 |
|
Other Pension Cost |
9.2 |
8.8 |
5.0 |
1.8 |
- |
|
Domestic Pension Plan Expense |
65.2 |
61.0 |
74.5 |
45.0 |
56.5 |
|
Total Pension Expense |
65.2 |
61.0 |
74.5 |
45.0 |
56.5 |
|
Discount Rate-Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount Rate-Foreign |
4.40% |
5.40% |
5.80% |
6.30% |
5.80% |
|
Expected Rate of Return-Domestic |
2.70% |
2.70% |
2.70% |
2.70% |
2.70% |
|
Expected Rate of Return-Foreign |
8.00% |
8.00% |
8.00% |
8.00% |
8.00% |
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 |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst & Young
LLP |
Ernst &
Young LLP |
Hijiribashi
Audit Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash &Deposit |
1,031.2 |
1,214.7 |
857.1 |
769.8 |
705.8 |
|
Notes and accounts
receivable-trade |
1,954.2 |
1,948.7 |
1,753.3 |
1,890.3 |
2,168.0 |
|
Short-term
investment securities |
34.7 |
40.1 |
17.4 |
11.7 |
190.0 |
|
Merchandise & Finished
goods |
128.9 |
96.4 |
118.1 |
102.1 |
137.0 |
|
Inventories-Work-in
-progress |
486.9 |
487.6 |
430.8 |
419.0 |
419.9 |
|
Raw materials
& Supplies |
230.3 |
222.9 |
198.2 |
243.2 |
258.7 |
|
Deferred Tax |
139.8 |
300.7 |
156.9 |
88.6 |
121.3 |
|
Rounding
adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Curr.Asset |
210.3 |
199.8 |
480.4 |
338.4 |
194.6 |
|
Allw.Doubt.Acct |
-13.4 |
-17.5 |
-11.0 |
-11.4 |
-6.4 |
|
Total Current
Assets |
4,202.8 |
4,493.5 |
4,001.1 |
3,851.6 |
4,188.8 |
|
|
|
|
|
|
|
|
Oter
PPE |
0.0 |
- |
- |
- |
- |
|
Buildings
and structures, net |
441.6 |
463.4 |
428.4 |
287.5 |
303.8 |
|
Machinery,
equipment and vehicles, net |
259.6 |
274.6 |
270.8 |
299.7 |
370.9 |
|
Land |
263.0 |
253.4 |
231.1 |
215.9 |
196.6 |
|
Const
in Prog. |
56.3 |
30.4 |
46.7 |
118.0 |
108.0 |
|
Other,
net |
60.9 |
60.7 |
69.3 |
60.7 |
54.2 |
|
Goodwill |
10.4 |
14.3 |
18.4 |
18.4 |
34.9 |
|
Software |
36.6 |
43.9 |
45.0 |
42.9 |
28.1 |
|
Other
Intangible |
20.5 |
29.1 |
32.7 |
41.2 |
44.4 |
|
Other LT inve |
192.8 |
- |
- |
- |
- |
|
Investment Secs. |
- |
180.5 |
173.0 |
96.5 |
160.8 |
|
Invt Secs Noncons,
Asc, Affd Cos |
77.1 |
- |
- |
- |
- |
|
Invts in Capital Noncons,
Ascd, Affd Cos |
10.7 |
- |
- |
- |
- |
|
Equity
secs.-noncol. & sub. |
- |
87.4 |
75.8 |
112.6 |
114.7 |
|
Long-term loans
receivable |
8.9 |
4.8 |
5.3 |
81.0 |
65.1 |
|
Deferred tax
assets |
232.0 |
102.2 |
111.6 |
174.1 |
132.8 |
|
Other Long Term
Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long
Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long
Term Assets |
196.1 |
- |
- |
- |
- |
|
Other Assets |
- |
128.8 |
115.7 |
335.6 |
413.8 |
|
Allw.Doubt.Acct |
-134.4 |
-39.0 |
-32.9 |
-40.0 |
-117.5 |
|
Reserve-Investment
Valuation Loss |
- |
- |
0.0 |
-1.0 |
-1.1 |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Total Assets |
5,935.1 |
6,128.0 |
5,592.1 |
5,694.5 |
6,098.3 |
|
|
|
|
|
|
|
|
Notes and accounts
payable-trade |
1,282.2 |
1,193.6 |
1,067.9 |
1,328.1 |
1,514.7 |
|
Short-term loans
payable |
963.5 |
645.8 |
601.0 |
674.3 |
547.5 |
|
Commercial Paper |
- |
- |
- |
- |
0.0 |
|
Cur. Port. of LT
Debt |
- |
179.3 |
197.5 |
151.4 |
124.4 |
|
Current portion of
bond |
- |
- |
0.0 |
202.5 |
102.5 |
|
Bonds w/stock
warrants (current) |
- |
241.3 |
0.0 |
- |
- |
|
Lease obligations |
- |
- |
8.3 |
3.9 |
0.0 |
|
Income Tax Pay. |
40.3 |
57.4 |
43.0 |
42.6 |
54.9 |
|
Deferred tax liabilities |
0.2 |
0.4 |
0.3 |
0.9 |
1.1 |
|
Allowance Bonus |
75.5 |
76.5 |
56.0 |
66.2 |
73.9 |
|
Rounding
adjustment Liability |
0.1 |
- |
- |
- |
- |
|
Provision for
directors'' bonuses |
1.4 |
2.0 |
1.1 |
1.2 |
1.5 |
|
Reserve-Completed Construction
Guarantee |
65.0 |
85.3 |
102.8 |
98.8 |
47.0 |
|
Reserve for
product warranties |
20.8 |
21.6 |
14.6 |
8.7 |
0.0 |
|
Reserve-Construction
Loss |
106.3 |
204.8 |
215.7 |
194.7 |
172.1 |
|
Provision for loss
on guarantees |
- |
0.0 |
0.3 |
0.4 |
0.0 |
|
Reserve anti-trust |
- |
- |
- |
0.0 |
9.7 |
|
Reserve litigation
loss |
- |
- |
0.0 |
1.7 |
2.0 |
|
Reserve for
expenses related to the sale |
22.4 |
34.6 |
49.1 |
27.4 |
27.9 |
|
Other |
460.8 |
395.3 |
453.4 |
528.3 |
435.8 |
|
Total Current
Liabilities |
3,038.7 |
3,138.0 |
2,811.1 |
3,331.1 |
3,115.0 |
|
|
|
|
|
|
|
|
Corporate Bond |
- |
- |
- |
0.0 |
200.9 |
|
Bond With Stock
Purchase Warranty |
242.8 |
241.3 |
428.1 |
405.0 |
401.9 |
|
Long-term loans
payable |
517.6 |
611.2 |
655.0 |
390.4 |
476.0 |
|
Lease obligations |
- |
- |
- |
10.7 |
0.0 |
|
Total Long Term
Debt |
760.3 |
852.5 |
1,083.1 |
806.0 |
1,078.8 |
|
|
|
|
|
|
|
|
Deferrred Taxes |
3.1 |
0.5 |
0.6 |
8.7 |
9.6 |
|
Accrued Retire |
182.6 |
189.2 |
221.6 |
230.7 |
276.2 |
|
Provision for
directors'' retirement ben |
2.4 |
4.3 |
3.9 |
7.2 |
5.9 |
|
Reserve for Land
Sales Exp. |
- |
- |
0.0 |
28.3 |
28.1 |
|
Reserve-Guarantee
Liability Loss |
- |
- |
0.0 |
0.1 |
0.1 |
|
Other Long Term
Liabilities |
0.1 |
- |
- |
- |
- |
|
Asset retirement
obligations |
21.8 |
21.3 |
0.0 |
- |
- |
|
Other Liability |
48.7 |
52.8 |
52.1 |
24.2 |
24.7 |
|
Minority Int. |
38.3 |
31.7 |
29.5 |
28.9 |
40.4 |
|
Total
Liabilities |
4,096.2 |
4,290.3 |
4,201.8 |
4,465.2 |
4,578.8 |
|
|
|
|
|
|
|
|
Rounding
adjustment Equity |
0.0 |
- |
- |
- |
- |
|
Common Stock |
744.2 |
739.4 |
655.9 |
620.5 |
615.7 |
|
Total capital
surpluses |
791.9 |
786.8 |
697.9 |
660.2 |
655.2 |
|
Total retained
earnings |
506.8 |
491.8 |
134.5 |
74.1 |
243.7 |
|
Deferred gains or
losses on hedges |
0.1 |
-0.1 |
0.0 |
0.0 |
0.1 |
|
Valuation
difference on available-for-sa |
13.5 |
12.7 |
16.9 |
2.6 |
29.3 |
|
Trans. Adjust |
-219.6 |
-194.1 |
-113.6 |
-126.7 |
-23.1 |
|
Treasury Stock |
-3.4 |
-3.2 |
-2.3 |
-1.5 |
-1.3 |
|
Subscription
rights to shares |
5.3 |
4.4 |
1.1 |
0.0 |
- |
|
Total Equity |
1,838.9 |
1,837.8 |
1,390.3 |
1,229.2 |
1,519.5 |
|
|
|
|
|
|
|
|
Total
Liabilities & Shareholders' Equity |
5,935.1 |
6,128.0 |
5,592.1 |
5,694.5 |
6,098.3 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
422.2 |
422.1 |
422.2 |
422.4 |
422.5 |
|
Total Common
Shares Outstanding |
422.2 |
422.1 |
422.2 |
422.4 |
422.5 |
|
T/S-Common Stock |
0.7 |
37.2 |
0.5 |
0.3 |
0.3 |
|
Full-Time Employees |
14,695 |
14,007 |
13,800 |
16,102 |
16,074 |
|
Total Number of Shareholders |
41,521 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
41,175 |
42,911 |
50,459 |
49,960 |
|
Other LTD |
0.9 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 1 Year |
298.3 |
420.6 |
197.5 |
353.9 |
226.9 |
|
Over One Year And Within Two Years |
242.8 |
- |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
166.2 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 2 Year |
- |
293.8 |
361.0 |
138.9 |
344.9 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
98.3 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 3 Year |
- |
402.7 |
250.1 |
264.3 |
148.3 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
40.2 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 4 Year |
- |
91.0 |
345.0 |
147.4 |
219.5 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
212.1 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 5 Year |
- |
36.9 |
71.2 |
229.2 |
143.4 |
|
Long Term Debt Remaining Maturities |
- |
28.1 |
55.9 |
15.5 |
222.7 |
|
Total Long Term Debt, Supplemental |
1,058.7 |
1,273.1 |
1,280.6 |
1,149.2 |
1,305.7 |
|
Capital Lease Payments Due Within 1 Year |
7.9 |
5.7 |
8.3 |
3.9 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
5.9 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
5.1 |
4.8 |
3.5 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
3.7 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
- |
3.4 |
4.2 |
2.8 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
1.2 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
2.1 |
2.6 |
2.3 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.5 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
0.3 |
1.6 |
1.3 |
- |
|
Other Lease |
0.2 |
- |
- |
- |
- |
|
Capital Lease - Remaining Maturities |
- |
0.0 |
0.3 |
0.8 |
- |
|
Total Capital Leases |
19.4 |
16.6 |
21.9 |
14.6 |
- |
|
Pension obligation |
662.3 |
673.7 |
672.2 |
694.5 |
874.8 |
|
Fair value of plan asset |
433.2 |
431.2 |
410.7 |
382.5 |
569.7 |
|
Funded status |
-229.1 |
-242.5 |
-261.5 |
-311.9 |
-305.1 |
|
Total Funded Status |
-229.1 |
-242.5 |
-261.5 |
-311.9 |
-305.1 |
|
Discount rate-Domesitic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Discount Rate-Foreign |
4.40% |
5.40% |
5.80% |
6.30% |
5.80% |
|
Expected Rate of Return-Domestic |
2.70% |
2.70% |
2.70% |
2.70% |
2.70% |
|
Expected Rate of Return-Foreign |
8.00% |
8.00% |
8.00% |
8.00% |
8.00% |
|
Unrecognized actuarial G/L |
-39.0 |
45.8 |
34.6 |
-73.4 |
-27.9 |
|
Unrecognized prior service cost |
-7.4 |
7.5 |
5.3 |
-7.9 |
-0.9 |
|
Accrued pension benefit |
-182.6 |
-189.2 |
-221.6 |
-230.7 |
-276.2 |
|
Net Assets Recognized on Balance Sheet |
-229.1 |
-135.9 |
-181.7 |
-311.9 |
-305.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst & Young
LLP |
Hijiribashi
Audit Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Income Before Tax |
137.6 |
333.1 |
128.8 |
-73.1 |
293.8 |
|
Depreciation |
161.6 |
157.8 |
164.3 |
151.1 |
134.0 |
|
Loss on adjustment
for changes of accoun |
- |
10.6 |
0.0 |
- |
- |
|
Impairment Loss |
1.6 |
0.9 |
2.4 |
33.2 |
7.9 |
|
Loss (gain) on sales
of short-term and l |
-6.4 |
-14.5 |
42.0 |
-5.2 |
-10.9 |
|
Settelment/litigation |
- |
- |
- |
0.0 |
1.7 |
|
Increase
(decrease) in provision |
-47.0 |
-118.4 |
-1.6 |
29.9 |
262.8 |
|
Loss (gain) on
sales of noncurrent asset |
-0.2 |
-7.7 |
-11.1 |
-2.5 |
-681.8 |
|
Increase
(decrease) in cash and cash equ |
3.9 |
- |
- |
- |
- |
|
Other Operating
Cash Flow |
0.0 |
- |
- |
- |
- |
|
Int.&Divid.
Income |
-10.3 |
-10.0 |
-8.7 |
-21.3 |
-19.4 |
|
Interest Expense |
31.8 |
35.3 |
38.4 |
31.7 |
34.9 |
|
Decrease
(increase) in notes and account |
-35.9 |
-2.8 |
-34.3 |
245.0 |
-14.2 |
|
Decrease
(increase) in inventories |
-42.9 |
14.4 |
78.1 |
29.4 |
95.4 |
|
Increase
(decrease) in notes and account |
109.1 |
14.7 |
-159.6 |
-162.1 |
-117.0 |
|
Increase/decrease
in other assets/liabil |
-33.5 |
6.8 |
56.1 |
-30.7 |
-27.7 |
|
Non-Fund
Transaction |
-2.4 |
2.8 |
38.3 |
76.2 |
50.2 |
|
Anti-trust loss |
- |
- |
0.0 |
0.0 |
2.7 |
|
Int.&Divid.
Rcvd. |
10.4 |
8.5 |
14.7 |
13.3 |
19.9 |
|
Interest Paid |
-32.3 |
-35.9 |
-36.6 |
-34.2 |
-36.2 |
|
Anti-trust/litigation
paid |
- |
- |
0.0 |
-9.6 |
-7.3 |
|
Income Tax Paid |
-81.8 |
-85.1 |
-57.4 |
-97.7 |
-44.1 |
|
Cash Consolidated |
- |
- |
- |
0.0 |
1.5 |
|
Cash from
Operating Activities |
163.3 |
310.4 |
253.7 |
173.5 |
-53.8 |
|
|
|
|
|
|
|
|
Sale of Fixed
Assets |
3.1 |
204.4 |
5.5 |
63.2 |
562.4 |
|
Capital
Expenditures |
-128.3 |
-170.9 |
-208.4 |
-236.5 |
-146.4 |
|
Payments into time
deposits |
-6.5 |
- |
- |
- |
- |
|
Purch. Mkt Secs |
- |
- |
- |
0.0 |
-155.7 |
|
Proceeds from
sales and redemption of sh |
48.4 |
- |
- |
- |
- |
|
Sale of marketable
sec. |
- |
- |
0.0 |
177.1 |
0.0 |
|
Purchase of short-term
and long term inv |
-43.0 |
-6.3 |
-0.5 |
-38.3 |
-9.7 |
|
Sale/redempt.LT
inv't in sec. |
- |
23.2 |
1.1 |
14.4 |
44.1 |
|
Payments into time
deposits |
- |
0.0 |
- |
0.0 |
-19.2 |
|
Time deposit
matured |
- |
- |
0.0 |
21.9 |
0.0 |
|
Rounding
adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Loan Made |
-39.0 |
-19.8 |
-43.9 |
-66.2 |
-48.7 |
|
Loan Collected |
33.1 |
96.1 |
31.8 |
32.5 |
35.3 |
|
Purch-Equity of
Subs |
- |
- |
- |
- |
0.0 |
|
Purchase of subsidiaries'
shares |
- |
-0.3 |
0.0 |
- |
- |
|
Proceeds from
sales of investments in su |
11.0 |
0.0 |
29.2 |
0.0 |
7.7 |
|
Outflow due to
sale subsidiaries' sec. |
- |
0.0 |
-8.5 |
0.0 |
- |
|
Other, net |
9.1 |
2.0 |
9.4 |
4.3 |
8.2 |
|
Cash from
Investing Activities |
-111.9 |
128.3 |
-184.3 |
-27.6 |
277.9 |
|
|
|
|
|
|
|
|
Issuance of Bond |
- |
- |
- |
- |
0.0 |
|
Redemp.of Bonds |
-253.3 |
0.0 |
-215.2 |
-101.5 |
-123.4 |
|
Net increase
(decrease) in short-term lo |
16.9 |
-10.8 |
- |
- |
- |
|
Issued-ST Debt |
- |
- |
264.1 |
296.2 |
1,169.9 |
|
Repaid-ST Debt |
- |
- |
-530.6 |
-164.4 |
-1,343.4 |
|
Proceeds from
long-term loans payable |
206.0 |
57.2 |
453.0 |
86.9 |
136.4 |
|
Repayment of long-term
loans payable |
-183.2 |
-214.5 |
-8.0 |
-125.0 |
-7.9 |
|
Treasury stock
transactions, net |
-0.2 |
-0.5 |
-0.8 |
0.0 |
-0.3 |
|
Cash Dividends
Paid |
-26.7 |
- |
- |
- |
- |
|
Dividend Paid |
- |
- |
0.0 |
-31.5 |
-27.7 |
|
Proceeds From
Stock Issuance To Minority |
3.0 |
- |
- |
- |
- |
|
Rounding
adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Proceeds from
stock issuance to minority |
- |
0.0 |
0.0 |
11.7 |
8.8 |
|
Dividend Paid to
Minority |
-8.8 |
-5.1 |
-11.1 |
-4.5 |
-3.1 |
|
Other, net |
-7.1 |
9.3 |
-10.0 |
0.0 |
- |
|
Cash from
Financing Activities |
-253.3 |
-164.5 |
-58.5 |
-32.2 |
-190.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-9.8 |
-14.2 |
3.9 |
-33.8 |
-6.5 |
|
Net Change in
Cash |
-211.6 |
260.1 |
14.8 |
80.0 |
26.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,317.1 |
953.5 |
864.3 |
688.3 |
578.2 |
|
Net Cash - Ending Balance |
1,105.5 |
1,213.7 |
879.2 |
768.2 |
605.1 |
|
Cash Interest Paid |
32.3 |
35.9 |
36.6 |
34.2 |
36.2 |
|
Cash Taxes Paid |
81.8 |
85.1 |
57.4 |
97.7 |
44.1 |
Financial
Health
Financials
in: USD (mil)
Except
for share items (millions) and per share items (actual units)
Key Indicators USD (mil)
|
||||||||||||||
|
|
Quarter |
Quarter |
Annual |
1 Year |
3 Year |
5 Year |
||||||||
|
Total Revenue1 (?) |
1,013.6 |
1.56% |
5,218.7 |
2.59% |
-6.31% |
-5.20% |
||||||||
|
Research & Development1 (?) |
- |
- |
48.5 |
-5.88% |
-24.32% |
-19.55% |
||||||||
|
Operating Income1 (?) |
6.3 |
-78.44% |
158.8 |
-57.41% |
- |
10.37% |
||||||||
|
Income Available to Common Excl Extraord Items1 (?) |
-5.3 |
- |
36.6 |
-89.75% |
- |
-11.91% |
||||||||
|
Basic EPS Excl Extraord Items1 (?) |
-0.01 |
- |
0.09 |
-89.75% |
- |
-11.89% |
||||||||
|
Capital Expenditures2 (?) |
26.0 |
29.56% |
128.3 |
-30.82% |
-24.74% |
-10.34% |
||||||||
|
Cash from Operating Activities2 (?) |
400.9 |
10.18% |
163.3 |
-51.51% |
-9.56% |
4.67% |
||||||||
|
Free Cash Flow
(?) |
378.7 |
9.05% |
33.6 |
-76.87% |
- |
- |
||||||||
|
Total Assets3 (?) |
6,046.7 |
-4.73% |
5,935.1 |
-3.73% |
-4.56% |
-4.79% |
||||||||
|
Total Liabilities3 (?) |
4,134.3 |
-6.65% |
4,096.2 |
-5.09% |
-8.54% |
-6.56% |
||||||||
|
Total Long Term Debt3 (?) |
774.1 |
-12.76% |
760.3 |
-11.34% |
-7.68% |
-11.49% |
||||||||
|
Employees3 (?) |
- |
- |
14695 |
4.91% |
-3.00% |
-1.20% |
||||||||
|
Total Common Shares Outstanding3 (?) |
422.4 |
0.07% |
422.2 |
0.03% |
-0.01% |
-0.02% |
||||||||
|
1-ExchangeRate: JPY to USD Average for Period |
80.197711 |
|
78.961215 |
|
|
|
||||||||
|
2-ExchangeRate: JPY to USD Average for Period |
80.197711 |
|
78.961215 |
|
|
|
||||||||
|
3-ExchangeRate: JPY to USD Period End Date |
79.390941 |
|
82.385362 |
|
|
|
||||||||
Key Ratios
|
|
|
|
|
|
|
||||||||
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
|
|
|
|
|
|||
|
Profitability |
|
|
|
|
|
|
||||||||
|
Gross Margin
(?) |
22.60% |
24.90% |
19.85% |
17.03% |
16.08% |
|
|
|
|
|
|
|||
|
Operating Margin
(?) |
3.04% |
7.33% |
3.65% |
-0.96% |
-6.13% |
|
|
|
|
|
|
|||
|
Pretax Margin
(?) |
2.64% |
7.11% |
2.47% |
-1.46% |
5.92% |
|
|
|
|
|
|
|||
|
Net Profit Margin
(?) |
0.70% |
7.02% |
1.12% |
-2.62% |
1.34% |
|
|
|
|
|
|
|||
|
Financial Strength |
|
|
|
|
|
|
||||||||
|
Current Ratio
(?) |
1.38 |
1.43 |
1.42 |
1.16 |
1.34 |
|
|
|
|
|
|
|||
|
Long Term Debt/Equity (?) |
0.41 |
0.46 |
0.78 |
0.66 |
0.71 |
|
|
|
|
|
|
|||
|
Total Debt/Equity
(?) |
0.94 |
1.04 |
1.36 |
1.50 |
1.22 |
|
|
|
|
|
|
|||
|
Management Effectiveness |
|
|
|
|
|
|
||||||||
|
Return on Assets
(?) |
0.79% |
5.61% |
1.12% |
-2.52% |
1.15% |
|
|
|
|
|
|
|||
|
Return on Equity
(?) |
1.90% |
19.98% |
4.33% |
-9.62% |
5.03% |
|
|
|
|
|
|
|||
|
Efficiency |
|
|
|
|
|
|
||||||||
|
Receivables Turnover (?) |
2.58 |
2.49 |
2.79 |
2.50 |
2.59 |
|
|
|
|
|
|
|||
|
Inventory Turnover (?) |
4.67 |
4.41 |
5.36 |
5.31 |
5.35 |
|
|
|
|
|
|
|||
|
Asset Turnover
(?) |
0.83 |
0.78 |
0.90 |
0.86 |
0.92 |
|
|
|
|
|
|
|||
Market Valuation USD
(mil)
|
|
|||||||||||||
|
P/E (TTM) (?) |
67.21 |
. |
Enterprise Value2 (?) |
2,099.0 |
|
|||||||||
|
Price/Sales (TTM) (?) |
0.33 |
. |
Enterprise Value/Revenue (TTM) (?) |
0.40 |
|
|||||||||
|
Price/Book (MRQ) (?) |
0.91 |
. |
Enterprise Value/EBITDA (TTM) (?) |
7.21 |
|
|||||||||
|
Market Cap as of 05-Oct-20121 (?) |
1,760.5 |
. |
|
|
|
|||||||||
|
1-ExchangeRate: JPY to USD on 5-Oct-2012 |
78.344379 |
|
|
|
|
|||||||||
|
2-ExchangeRate: JPY to USD on 30-Jun-2012 |
79.390941 |
|
|
|
|
|||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.97 |
|
|
1 |
Rs.85.45 |
|
Euro |
1 |
Rs.69.45 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.