MIRA INFORM REPORT
|
Report Date : |
22.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
FURUKAWA ELECTRIC CO LTD |
|
|
|
|
|
|
Registered Office : |
2-2-3, Marunouchi, Chiyoda-ku Tokyo, 100-8322 |
|
|
|
|
|
|
Country : |
Japan |
|
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
|
|
Date of Incorporation : |
25.06.1896 |
|
|
|
|
|
|
Legal Form : |
Public Subsidiary |
|
|
|
|
|
|
Line of Business : |
Manufacture of electricity distribution and control apparatus |
|
|
|
|
|
|
No. of Employees : |
45,425 |
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World
War II, government-industry cooperation, a strong work ethic, mastery of high
technology, and a comparatively small defense allocation (1% of GDP) helped
Japan develop a technologically advanced economy. Two notable characteristics
of the post-war economy were the close interlocking structures of
manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001,
and third-place India, which edged out Japan in 2011. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan further into recession. Government stimulus spending helped the economy
recover in late 2009 and 2010, but the economy contracted again in 2011 as the
massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity
supplies remain tight because Japan has temporarily shut down almost all of its
nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled
by the earthquake and resulting tsunami. Estimates of the direct costs of the
damage - rebuilding homes, factories, and infrastructure - range from $235
billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister
Yoshihiko NODA has proposed opening the agricultural and services sectors to
greater foreign competition and boosting exports through membership in the
US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
Source : CIA
Company name and address
Furukawa Electric
Co Ltd
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business
Description
|
The Furukawa Electric Co., Ltd. operates in six business divisions.
The Information and Communication division offers optical fibers, cables,
optical-related parts, Optical fiber cable accessories and engineering
services, as well as network equipment. The Energy and Industrial Machinery
division provides bare wires, aluminum wires, coated wires, electric cables
and electric materials, among others. The Electronics division provides
batteries, automobile parts and wires, heat sheets, aluminum boards for
memory discs and electronic parts, among others. The Metal division provides
processed copper products such as extended copper products, electrolytic
copper foils and memory metals, among others. The Light Metal division
provides aluminum sheets, aluminum extrusion and molds, among others. The
Service division provides real estate, logistics, information and other
services. On March 28, 2012, the Company acquired additional 23.39% stake of
33.11% owned company, Totoku Electric Co., Ltd For the three months ended 30
June 2012, Furukawa Electric Co Ltd revenues decreased 7% to Y222.87B. Net
income increased 86% to Y561M. Revenues reflect Metal Business segment
decrease of 19% to Y30.77B, Energy And Industrial Equipment segment decrease
of 9% to Y55.43B, Light Metals segment decrease of 10% to Y45.76B. Net income
reflects Electrical And Electronics segment income totaling Y1.77B vs. loss
of Y108M. |
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
3120 - Manufacture of electricity distribution and
control apparatus |
|
NAICS 2002: |
|
|
UK SIC 2003: |
3120 - Manufacture of electricity distribution and
control apparatus |
|
UK SIC 2007: |
2712 - Manufacture of electricity distribution and
control apparatus |
|
US SIC 1987: |
|
|
|
|
Key Executives
|
Significant
Developments
|
Financial Summary
|
|
Stock Snapshot
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536
Corporate Overview
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Furukawa
Electric Co Ltd The Strategic Initiatives report is created using technology to
extract meaningful insights from analyst reports about a company's strategic
projects and investments. More about Strategic Initiatives
|
|
Key Organizational Changes |
|
|
Although there was some recovery after the Great East Japan Earthquake
in fiscal 2012, the economic environment has continued to be difficult, due
to factors such as the global economic slowdown, the persistently strong yen
against the dollar and the euro, and the Thailand floods. The Furukawa
Electric Group has taken measures in the face of such headwinds, such as a
complete withdrawal from the glass substrate business and the streamlining of
our copper tube operations in Japan, but at the same time we also engaged in
growth initiatives such as expanding capacity for production of copper foil
for lithium-ion batteries and expanding the range of applications for
microcellular foamed sheet (MCPET). Also, through our acquisition of the U.S.
Company SuperPower, Inc., the Furukawa Electric Group became the world’s
only total supplier of second generation high- emperature superconducting
products, offering everything from wire through equipment. We also advanced
our aluminum business globally by building new production bases in North
America and China. Nonetheless, the Furukawa Electric Group’s consolidated
results for fiscal 2012 reflect decreased revenue and earnings due to factors
such as the difficult operating environment and the fine paid for violating
U.S. antitrust laws, which was posted as an extraordinary loss. |
|
|
Partnerships |
|
|
To ensure this the consortium will work hard to maintain good
relations with the local fishery industry through strong communication while
at the same time pursuing the commercialization of this offshore wind farm
project.May 09, 2011Petrobras And JOGMEC To Conduct Feasibility Study On
Flexible Pipe Design For Pre-Salt ClusterPetroleo Brasileiro S.A. (Petrobras)
has signed a specific agreement with Japan Oil, Gas, and Metals National
Corporation (JOGMEC) with the aim of commencing a technical feasibility study
on flexible pipes for oil production in the pre-salt cluster. This study is
the second collaboration between the two companies.The relationship between
Petrobras and JOGMEC began in December 2005, when they signed a memorandum of
understanding for collaboration on activities of mutual interest related to
oil and gas exploration and production, health, safety and environment, and
sector-related research and development projects. They first joined forces on
research projects in 2006, working on Mono-column (cylindrical) FPSO systems.
The studies have been completed successfully and show promising results. |
|
|
Sales and Distribution |
|
|
Furukawa’s operating income in 2011 accounted for JPY 24,296m of the
company’s total revenue, representing an increase of 245.9% over JPY 7,023m
in 2010. The company also reported increased operating margin of 2.62% for
the fiscal year 2011 as compared to 0.86% in 2010. The increased operating
margin may indicate efficient cost management or a strong pricing strategy by
the company. The company's operating margin has increased 175 bps over 2010
which may indicate that the management has been focusing on profitability. On
the other hand, the company reduced its operating cost as percentage of sales
to 97.37% in 2011 from 99.13% in 2010. |
|
|
Overview
The Furukawa Electric Co., Ltd. (Furukawa) provides photonics, metals
and plastic products to varied industries including telecommunications,
automobiles and transportation, electronics, energy, and construction and
building. Diversified product portfolio and focused research and development
activities are the key strengths of the company. Going forward, growing demand
for telecommunication infrastructure, and its strategic acquisitions in
emerging markets may minimize the risk associated with competition, economic
situation, and technological changes.
Strengths
Furukawa manufactures photonics, metals and plastics components for
varied industries including communications, transportation, energy,
construction, material and electronics. The company offers optical fiber
cables, optical components, optical broadband systems, metal communication
cables, and wireless communication products to the communications industry. To
the electronics industry, the company provides materials for electronic
products, wiring materials, antennas, material for casing, car electronics, and
opto-electronic devices. Furukawa offers automotive connectors and parts, wire
harnesses, electric wires and aluminum products to the automotive sector. It
provides power cables, power transmission products, cable accessories and
connecting products to the energy industry. For the construction industry, the
company provides metal tubes, water feeding piping systems, insulations, fire
prevention products and heating systems. The company also provides
semiconductor materials, mounting components, electronic component materials,
electronic appliance wires, magnet wires and heat sinks. Further, the company
manufactures wrought copper, aluminum and plastic products as well as brass
mill products such as plates, strips, tubes, bars, and wires. In March 2011,
the company launched a Raman amplifier (HPU42000 Series) with a built-in
automatic gain control (AGC) function. The Raman amplifier offers ease of
system implementation and superior noise characteristics, which in combination
with erbium-doped fiber amplifiers (EDFAs) improves optical signal to noise
ratio (OSNR) as well as compensates for optical loss resulting from optical
transmission lines and optical components. In addition, the company’s OFS
introduced TrueWave HD ocean fiber, featuring high negative dispersion for
improved non-linearity performance in transoceanic applications. Such
diversified product portfolio allows the company to minimize business risk from
concentration on single product and provides an edge over its competitors.
Robust Research and Development
The company offers its customers new products and services from
innovative developments from its R&D capabilities which enhance its
business. Furukawa operates a total of seven R&D facilities, of which five
are located in Japan, one in Hungary and one in the US. The company has
developed superconductive cable materials, optical interconnections, fiber
lasers for industrial use, antenna modules for ubiquitous computing, on-board
sensors for automobiles and power-source management modules through its
research and development centers. In last three years, the company has invested
JPY 55,461m in its research and development activities. In addition, Furukawa
and Fuji Electric Advanced Technology Co., Ltd. jointly established an R&D
company aimed at collaborative development of gallium nitride (GaN)-based power
devices. The partnership is scheduled to be established in July 2010 and
practical use of the power devices will commence in 2011. The strong R&D
capabilities of the company enable it to implement innovative technology and
deliver advance products, and services that meet its customers' critical needs.
The company reported strong operational efficiency with decreased cost
and increased margins. Furukawa’s operating income in 2011 accounted for JPY
24,296m of the company’s total revenue, representing an increase of 245.9%
over JPY 7,023m in 2010. The company also reported increased operating margin
of 2.62% for the fiscal year 2011 as compared to 0.86% in 2010. The increased
operating margin may indicate efficient cost management or a strong pricing
strategy by the company. The company's operating margin has increased 175 bps
over 2010 which may indicate that the management has been focusing on
profitability. On the other hand, the company reduced its operating cost as
percentage of sales to 97.37% in 2011 from 99.13% in 2010. Similarly, its
administrative cost also decreased to 10.71% in 2011 as compared to 11.35% in
2010. The decreasing cost structure improves the margin position of the
company.
Weaknesses
The company operates a major portion of its business in Japan. Although
it has its geographic presence across the US, Europe, Asia and Latin America,
it generates a significant amount of revenue from its domestic operations in
Japan. The company generates about 70% of the total revenue from Japan. This
concentrated revenue from one region increases the business risk of the
company. If the business environment of the region turns adverse or the demand
declines, then it would have an adverse affect on the business operations of
the company.
Opportunities
Furukawa through strategic acquisitions is leading its inorganic growth.
In May 2011, the company’s Furukawa Industrial S.A. Produtos Electricos
reached an agreement with local shareholders to acquire Metrocable, a local
company that manufactures and sells optical fiber cables. In addition, an
application has been made to the examination organization of Brazil relating to
the anti-monopoly act (SBDC) to obtain approval for the acquisition. Earlier,
the company and Furukawa Automotive Systems Inc. acquired a major stake in Lear
Furukawa Corporation. The company also acquired 46% of the outstanding shares
of Permintex Industries Sdn. Bhd increasing its share from 5% to 51%. The
company by capitalizing on common synergies will increase its customer base,
penetrate into new markets with innovative products and increase its market
shares.
Demand for Telecommunication Infrastructure
Furukawa plans to expand its transmission infrastructure business across
the world based on the driving demand from the emerging economies and upgrades
from the developed nations. The emerging BRIC and ASEAN economies are expected
to drive the growth for the transmission infrastructure like electricity grids
and telecoms. The optical fiber market driven by the 3G mobile investment is
expected to have a demand of 6-7% per annum by 2012. New installations in
emerging countries and renewals in old countries are supposed to drive the
growth of the ultra-high voltage cable market. Big projects in emerging
countries are expected to drive the growth of high-speed railway market.
Growing Telecommunications Industry
The company, being a provider of electronic components and network
solutions to telecommunications market, could augment its operational revenue
with rapid growth in the global telecommunications services market. According
to Telecommunications Industry Association (TIA), steady growth is projected in
the US and global telecom market in the future. This growth could generate an
estimated $4.9 trillion in revenue by the end of 2013. The global telecom
market is expected to grow at a compound annual growth rate (CAGR) of 6.3%
between 2009 and 2013, while the US telecom market is expected to grow at 3.7%
CAGR during the same period. Also, China would lead the ranking of TIA’s top
ten countries in telecommunications-based revenue, with $335 billion revenue in
2011, followed by Japan with $200 billion, Germany with $192 billion, the UK
with $172 billion, Italy with $122 billion, France with $113 billion, India
with $107 billion, Mexico with $80 billion, and Spain with $77 billion.
The global electronic manufacturing services (EMS) industry, in which
the company operates, has been growing rapidly with better prospects for future
growth. According to Analysts, the global market for EMS is projected to reach
$435 billion by 2013. The market is likely to be driven by strong demand for
electronic assembly services, which is expected to exceed $1.2 trillion by
2013. The demand for EMS is expected to be high in low-cost countries in
Asia-Pacific, Latin America, and Eastern Europe. The Asia-Pacific EMS market
represents the largest and the fastest growing market. The company could
benefit from such positive outlook for EMS.
Threats
The company's offerings are characterized by rapid technology changes,
which may affect its business operations. To compete effectively with its
peers, the company should continually introduce new products that meet and
exceed the customers’ requirements. The introduction of products using new
technologies or the adoption of new industry standards can make existing
products, or products under development, obsolete or unmarketable. Inability to
study the evolving technological landscape may impact the company’s
competitive position.
Furukawa competes with international as well as regional companies. Many
of these companies are larger than Furukawa and have substantial financial
resources and marketing depth. A few of the company’s key competitors include
Fujikura Ltd, General Cable Corp, Nexans SA, Prysmian SpA, and Walsin Lihwa
Corp. Apart from these major companies, it also faces competition from smaller
companies that concentrate on a particular business or geographic segment.
Intense competition from established players and small companies offering new
insurance products could have a negative impact on the company’s operations.
Such rising competition in the market is a major challenge to the company.
As the company is the global player, the regulations and policies of
local and international government may affect the subsidiaries and affiliates.
The company’s operations are subject to the jurisdiction of national and
supranational regulatory authorities in the market. Government laws and
regulations include business and investment permits, as well as customs duties
and other import and export regulations. The directive restricts the use of
hazardous materials in the manufacture of items such as computers,
communication devices and home appliances. These laws and regulations may
restrict the business activities of the company and lead to an increase in
costs which would reduce operating margins.
Corporate Structure News
|
Furukawa
Electric Co Ltd |
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Seoul |
Korea, Republic of |
Miscellaneous Fabricated Products |
11,148.7 |
53 |
|
|
Subsidiary |
Anyang-Si |
Korea, Republic of |
Semiconductors |
|
3,533 |
|
|
Subsidiary |
Ansan, Kyonggi-Do |
Korea, Republic of |
Electronic Instruments and Controls |
441.5 |
987 |
|
|
Subsidiary |
Chongjup, Chollabuk-Do |
Korea, Republic of |
Iron and Steel |
6,698.5 |
104 |
|
|
Subsidiary |
Anyang |
Korea, Republic of |
Electronic Instruments and Controls |
1,869.3 |
3,420 |
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Construction - Supplies and Fixtures |
238.8 |
270 |
|
|
Subsidiary |
Taegu, Taegu |
Korea, Republic of |
Electronic Instruments and Controls |
16.0 |
105 |
|
|
Subsidiary |
Chonan, Chungchongnam-Do |
Korea, Republic of |
Semiconductors |
7.2 |
101 |
|
|
Subsidiary |
Anyang |
Korea, Republic of |
Miscellaneous Fabricated Products |
|
2,338 |
|
|
Subsidiary |
Atlanta, GA |
United States |
Miscellaneous Fabricated Products |
5,000.0 |
4,500 |
|
|
Branch |
Brownwood, TX |
United States |
Iron and Steel |
190.9 |
430 |
|
|
Branch |
Hoisington, KS |
United States |
Miscellaneous Fabricated Products |
109.9 |
290 |
|
|
Branch |
Tarboro, NC |
United States |
Construction - Supplies and Fixtures |
80.5 |
253 |
|
|
Subsidiary |
Quattordio, Alessandria |
Italy |
Electronic Instruments and Controls |
373.6 |
250 |
|
|
Branch |
Franklin, TN |
United States |
Miscellaneous Fabricated Products |
76.6 |
202 |
|
|
Subsidiary |
Fort Wayne, IN |
United States |
Metal Mining |
1,750.0 |
200 |
|
|
Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
11,636.2 |
45,425 |
|
|
Subsidiary |
Kaohsiung |
Taiwan |
Computer Peripherals |
654.9 |
11,020 |
|
|
Subsidiary |
Hsinchu City |
Taiwan |
Electronic Instruments and Controls |
|
300 |
|
|
Facility |
Taipei |
Taiwan |
Scientific and Technical Instruments |
|
|
|
|
Subsidiary |
Osaka-Shi |
Japan |
Construction - Supplies and Fixtures |
228.5 |
5,070 |
|
|
Subsidiary |
Tokyo |
Japan |
Metal Mining |
2,456.5 |
3,644 |
|
|
Subsidiary |
Surabaya, East Java |
Indonesia |
Miscellaneous Fabricated Products |
7.7 |
250 |
|
|
Subsidiary |
Omihachiman, Shiga |
Japan |
Miscellaneous Fabricated Products |
68.5 |
109 |
|
|
Subsidiary |
Fukaya, Saitama |
Japan |
Furniture and Fixtures |
26.9 |
20 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Miscellaneous Fabricated Products |
181.6 |
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Miscellaneous Fabricated Products |
119.8 |
|
|
|
Subsidiary |
Fukaya, Saitama |
Japan |
Miscellaneous Fabricated Products |
76.3 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Miscellaneous Fabricated Products |
48.7 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
|
2,000 |
|
|
Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
340.7 |
1,960 |
|
|
Subsidiary |
Shah Alam, Selangor |
Malaysia |
Miscellaneous Capital Goods |
19.6 |
750 |
|
|
Subsidiary |
Nagaoka, Niigata |
Japan |
Electronic Instruments and Controls |
72.2 |
140 |
|
|
Subsidiary |
Ueda, Nagano |
Japan |
Business Services |
2.0 |
93 |
|
|
Subsidiary |
Yokohama-Shi |
Japan |
Electronic Instruments and Controls |
532.7 |
1,793 |
|
|
Subsidiary |
Bualoy, Saraburi |
Thailand |
Miscellaneous Capital Goods |
|
300 |
|
|
Subsidiary |
Fukuoka, Fukuoka |
Japan |
Auto and Truck Parts |
10.8 |
8 |
|
|
Subsidiary |
Jitra, Kedah |
Malaysia |
Auto and Truck Parts |
30.9 |
1,744 |
|
|
Subsidiary |
Jakarta |
Indonesia |
Miscellaneous Fabricated Products |
383.9 |
998 |
|
|
Subsidiary |
Avon, CT |
United States |
Miscellaneous Fabricated Products |
48.2 |
700 |
|
|
Branch |
Somerset, NJ |
United States |
Construction Services |
8.4 |
40 |
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Fabricated Products |
|
630 |
|
|
Facility |
Kofu, Yamanashi |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Furukawa Electric Industrial Cable Co., Ltd. -
Hokuriku Plant |
Facility |
Hakui, Ishikawa |
Japan |
Electronic Instruments and Controls |
|
|
|
Subsidiary |
Tokyo |
Japan |
Communications Services |
74.4 |
595 |
|
|
Subsidiary |
Nerima-Ku, Tokyo |
Japan |
Construction Services |
47.8 |
|
|
|
Subsidiary |
Yachiyo, Chiba |
Japan |
Construction Services |
31.8 |
|
|
|
Subsidiary |
Troisdorf, Nordrhein-Westfalen |
Germany |
Fabricated Plastic and Rubber |
90.7 |
560 |
|
|
Subsidiary |
Budapest |
Hungary |
Miscellaneous Capital Goods |
8.0 |
107 |
|
|
Subsidiary |
Curitiba, PR |
Brazil |
Electronic Instruments and Controls |
253.8 |
450 |
|
|
Subsidiary |
Shenyang |
China |
Electronic Instruments and Controls |
172.8 |
414 |
|
|
Subsidiary |
Curitiba, PR |
Brazil |
Miscellaneous Fabricated Products |
47.4 |
400 |
|
|
Subsidiary |
Salto, Sao Paulo |
Brazil |
Miscellaneous Fabricated Products |
5.9 |
75 |
|
|
Branch |
São Paulo |
Brazil |
Broadcasting and Cable Television |
|
|
|
|
Subsidiary |
Kelang, Selangor Darul Ehsan |
Malaysia |
Retail (Home Improvement) |
45.5 |
350 |
|
|
Subsidiary |
Tochigi |
Japan |
Containers and Packaging |
1.0 |
350 |
|
|
Subsidiary |
Jakarta Barat |
Indonesia |
Metal Mining |
692.4 |
335 |
|
|
Subsidiary |
Gresik, Jawa Timur |
Indonesia |
Retail (Home Improvement) |
|
300 |
|
|
Subsidiary |
Tokyo |
Japan |
Software and Programming |
|
280 |
|
|
Subsidiary |
Yokohama, Kanagawa |
Japan |
Miscellaneous Capital Goods |
100.4 |
248 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Consumer Financial Services |
30.5 |
242 |
|
|
Subsidiary |
Johor Bahru, Johor |
Malaysia |
Retail (Home Improvement) |
323.8 |
200 |
|
|
Joint Venture |
Bangchan Klongsamwa, Bangkok |
Thailand |
Construction Services |
18.0 |
200 |
|
|
Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
|
200 |
|
|
Subsidiary |
Bangkok |
Thailand |
Retail (Home Improvement) |
|
200 |
|
|
Subsidiary |
Norcross, GA |
United States |
Miscellaneous Fabricated Products |
|
200 |
|
|
Subsidiary |
Norcross, GA |
United States |
Miscellaneous Fabricated Products |
|
|
|
|
Division |
Carrollton, GA |
United States |
Business Services |
80.0 |
400 |
|
|
Division |
Sturbridge, MA |
United States |
Personal and Household Products |
63.0 |
350 |
|
|
Subsidiary |
Wuxi, Jiangsu |
China |
Miscellaneous Capital Goods |
1.0 |
188 |
|
|
Subsidiary |
Hiratsuka, Kanagawa |
Japan |
Communications Equipment |
|
180 |
|
|
Subsidiary |
Caponago, Monza E Brianza |
Italy |
Fabricated Plastic and Rubber |
53.3 |
163 |
|
|
Subsidiary |
Urgnano, Bergamo |
Italy |
Miscellaneous Capital Goods |
2.7 |
11 |
|
|
Subsidiary |
Unhost |
Czech Republic |
Auto and Truck Parts |
|
140 |
|
|
Subsidiary |
Bangkok |
Thailand |
Retail (Home Improvement) |
|
130 |
|
|
Subsidiary |
Amsterdam |
Netherlands |
Retail (Home Improvement) |
|
130 |
|
|
Subsidiary |
Augsburg, Bayern |
Germany |
Personal and Household Products |
46.7 |
120 |
|
|
Affiliates |
Bangkok |
Thailand |
Auto and Truck Parts |
9.2 |
120 |
|
|
Subsidiary |
Bangkok |
Thailand |
Miscellaneous Fabricated Products |
|
52 |
|
|
Subsidiary |
Yun-lin, Yun Lin |
Taiwan |
Electronic Instruments and Controls |
1.0 |
120 |
|
|
Subsidiary |
Sanuki, Kagawa |
Japan |
Miscellaneous Fabricated Products |
|
118 |
|
|
Subsidiary |
Tsim Sha Tsui, Kowloon |
Hong Kong |
Electronic Instruments and Controls |
7.7 |
7 |
|
|
Subsidiary |
Tokyo |
Japan |
Fabricated Plastic and Rubber |
131.5 |
100 |
|
|
Subsidiary |
Yamato, Kanagawa |
Japan |
Communications Equipment |
|
100 |
|
|
Subsidiary |
Taipei |
Taiwan |
Retail (Home Improvement) |
|
100 |
|
|
Subsidiary |
Osaka |
Japan |
Miscellaneous Fabricated Products |
71.2 |
92 |
|
|
Subsidiary |
Tangerang |
Indonesia |
Miscellaneous Fabricated Products |
11.0 |
90 |
|
|
Subsidiary |
Yamato, Kanagawa |
Japan |
Electronic Instruments and Controls |
34.8 |
83 |
|
|
Subsidiary |
Bien Hoa, Dong Nai |
Viet Nam |
Retail (Home Improvement) |
|
70 |
|
|
Subsidiary |
Kent, OH |
United States |
Appliance and Tool |
|
50 |
|
|
Subsidiary |
Rimouski, QC |
Canada |
Miscellaneous Fabricated Products |
|
50 |
|
|
Subsidiary |
Osaka |
Japan |
Chemical Manufacturing |
156.3 |
40 |
|
|
Furukawa Electric Technologiai Intezet Korlatolt
Felelossegu Tarsasag |
Subsidiary |
Budapest |
Hungary |
Biotechnology and Drugs |
2.8 |
34 |
|
Subsidiary |
London |
United Kingdom |
Miscellaneous Capital Goods |
42.5 |
27 |
|
|
Subsidiary |
Sao Paulo |
Brazil |
Electronic Instruments and Controls |
2.7 |
25 |
|
|
Subsidiary |
Kunming, Yunnan |
China |
Miscellaneous Fabricated Products |
6.7 |
23 |
|
|
Subsidiary |
T'ainan |
Taiwan |
Retail (Home Improvement) |
|
23 |
|
|
Subsidiary |
Singapore |
Singapore |
Electronic Instruments and Controls |
459.7 |
20 |
|
|
Subsidiary |
Budapest |
Hungary |
Retail (Home Improvement) |
|
20 |
|
|
Subsidiary |
Causeway Bay |
Hong Kong |
Electronic Instruments and Controls |
|
14 |
|
|
Subsidiary |
Plymouth, MI |
United States |
Electronic Instruments and Controls |
2.2 |
6 |
|
|
Subsidiary |
Onbekend, Onbekend |
Netherlands |
|
1.6 |
3 |
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Electronic Instruments and Controls |
1,047.1 |
|
|
|
Subsidiary |
Wan Chai, Hong Kong |
Hong Kong |
Electronic Instruments and Controls |
35.3 |
5 |
|
|
Subsidiary |
Makati, Manila |
Philippines |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Inukami-Gun, Shiga |
Japan |
Auto and Truck Parts |
1,017.6 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Fabricated Products |
114.5 |
|
|
|
Subsidiary |
Kamakura, Kanagawa |
Japan |
Communications Equipment |
99.0 |
|
|
|
Subsidiary |
Yokohama, Kanagawa |
Japan |
Electronic Instruments and Controls |
85.9 |
|
|
|
Subsidiary |
Yokohama, Kanagawa |
Japan |
Miscellaneous Fabricated Products |
85.9 |
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Electronic Instruments and Controls |
56.3 |
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Business Services |
50.2 |
|
|
|
Subsidiary |
Cheonan, Chungchongnam-Do |
Korea, Republic of |
Electronic Instruments and Controls |
41.3 |
|
|
|
Subsidiary |
Yokosuka, Kanagawa |
Japan |
Electronic Instruments and Controls |
32.5 |
|
|
|
Subsidiary |
Ichihara, Chiba |
Japan |
Communications Equipment |
32.4 |
|
|
|
Subsidiary |
Bangkok |
Thailand |
Electronic Instruments and Controls |
21.1 |
|
|
|
Subsidiary |
Voronezh G. |
Russian Federation |
Construction - Supplies and Fixtures |
19.3 |
|
|
|
Subsidiary |
Aiko-Gun, Kanagawa |
Japan |
Containers and Packaging |
12.4 |
|
|
|
Subsidiary |
Hong Kong |
Hong Kong |
Auto and Truck Parts |
1.0 |
|
|
|
Joint Venture |
Shanghai |
China |
Semiconductors |
1.0 |
|
|
|
Subsidiary |
Shanghai |
China |
Electronic Instruments and Controls |
1.0 |
|
|
|
Subsidiary |
Binan, Laguna |
Philippines |
Auto and Truck Parts |
1.0 |
|
|
|
Facility |
Kameyama, Mie |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Hiratsuka |
Japan |
Communications Equipment |
|
|
|
|
Subsidiary |
Nikko |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Facility |
Tochigi |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Causeway Bay |
Hong Kong |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Ayutthaya |
Thailand |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Chiba |
Japan |
Fabricated Plastic and Rubber |
|
|
|
|
Subsidiary |
Mexicali, Baja California |
Mexico |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Bekasi |
Indonesia |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Montigny-le-Bretonneux |
France |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Retail (Home Improvement) |
|
|
|
|
Subsidiary |
London |
United Kingdom |
Retail (Home Improvement) |
|
|
|
|
Subsidiary |
El Paso, TX |
United States |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Ottawa, ON |
Canada |
Retail (Home Improvement) |
|
|
|
|
Facility |
Hiratsuka |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Tianjin |
China |
Construction and Agriculture Machinery |
|
|
|
|
Subsidiary |
Shenzhen |
China |
Auto and Truck Parts |
|
|
|
|
Facility |
Kusatsu, Shiga |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Furukawa Electric Industrial Cable Co., Ltd. -
Tochigi Plant |
Facility |
Tochigi |
Japan |
Electronic Instruments and Controls |
|
|
|
Subsidiary |
Shenzhen |
China |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Manila |
Philippines |
Retail (Home Improvement) |
|
|
|
|
Subsidiary |
London |
United Kingdom |
Retail (Home Improvement) |
|
|
|
|
Subsidiary |
Santa Clara, CA |
United States |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Ansan, Kyungki-do |
Korea, Republic of |
Retail (Home Improvement) |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
|
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Electronic Instruments and Controls |
119.3 |
|
|
|
Division |
Fort Wayne, IN |
United States |
Electronic Instruments and Controls |
13.6 |
500 |
|
|
Branch |
Kendallville, IN |
United States |
Miscellaneous Fabricated Products |
45.1 |
119 |
|
|
Branch |
Edison, NJ |
United States |
Advertising |
3.4 |
15 |
|
|
Branch |
Charlotte, NC |
United States |
Electronic Instruments and Controls |
3.4 |
13 |
|
|
Branch |
Denver, CO |
United States |
Electronic Instruments and Controls |
7.6 |
10 |
|
|
Branch |
Memphis, TN |
United States |
Semiconductors |
5.7 |
10 |
|
|
Branch |
El Paso, TX |
United States |
Miscellaneous Capital Goods |
9.1 |
8 |
|
|
Branch |
Charlotte, NC |
United States |
Electronic Instruments and Controls |
2.1 |
8 |
|
|
Branch |
Columbia City, IN |
United States |
Miscellaneous Capital Goods |
8.0 |
7 |
|
|
Branch |
Ontario, CA |
United States |
Electronic Instruments and Controls |
5.3 |
7 |
|
|
Branch |
Bensalem, PA |
United States |
Retail (Technology) |
1.9 |
6 |
|
|
Branch |
Fort Wayne, IN |
United States |
Electronic Instruments and Controls |
3.8 |
5 |
|
|
Branch |
Mcallen, TX |
United States |
Miscellaneous Capital Goods |
4.6 |
4 |
|
|
Branch |
Lubbock, TX |
United States |
Electronic Instruments and Controls |
3.1 |
4 |
|
|
Branch |
Addison, IL |
United States |
Advertising |
0.9 |
4 |
|
|
Branch |
Tempe, AZ |
United States |
Electronic Instruments and Controls |
2.3 |
3 |
|
|
Branch |
Portland, OR |
United States |
Advertising |
0.7 |
3 |
|
|
Branch |
Tampa, FL |
United States |
Miscellaneous Capital Goods |
2.3 |
2 |
|
|
Branch |
Oklahoma City, OK |
United States |
Miscellaneous Capital Goods |
1.9 |
2 |
|
|
Branch |
Salt Lake City, UT |
United States |
Water Transportation |
0.7 |
2 |
|
|
Subsidiary |
Atlanta, GA |
United States |
Miscellaneous Fabricated Products |
125.0 |
200 |
|
|
Subsidiary |
Tianjin |
China |
Miscellaneous Fabricated Products |
1.0 |
161 |
|
|
Branch |
Franklin, IN |
United States |
Construction - Supplies and Fixtures |
19.1 |
60 |
|
|
Subsidiary |
Fort Wayne, IN |
United States |
Electronic Instruments and Controls |
|
50 |
|
|
Branch |
Amherst, NH |
United States |
Miscellaneous Fabricated Products |
11.6 |
36 |
|
|
Branch |
Northfield, OH |
United States |
Electronic Instruments and Controls |
5.3 |
7 |
|
|
Branch |
Tempe, AZ |
United States |
Electronic Instruments and Controls |
3.8 |
5 |
|
|
Subsidiary |
Changzhou |
China |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Anyang |
Korea, Republic of |
Miscellaneous Fabricated Products |
7,982.4 |
2,213 |
|
|
Subsidiary |
Cheonan |
Korea, Republic of |
Electronic Instruments and Controls |
481.7 |
337 |
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Construction Services |
100.0 |
159 |
|
|
Subsidiary |
Chungju, Chungchongbuk-Do |
Korea, Republic of |
Miscellaneous Fabricated Products |
|
114 |
|
|
Subsidiary |
Chungju, Chungchongbuk-Do |
Korea, Republic of |
Chemicals - Plastics and Rubber |
98.6 |
70 |
|
|
Subsidiary |
Anyang, Kyonggi-Do |
Korea, Republic of |
Electronic Instruments and Controls |
6.9 |
41 |
|
|
Subsidiary |
Ulsan |
Korea, Republic of |
Metal Mining |
8,290.1 |
758 |
|
|
Subsidiary |
Haman |
Korea, Republic of |
Metal Mining |
67.7 |
60 |
|
|
Subsidiary |
Asan, Chungchongnam-Do |
Korea, Republic of |
Metal Mining |
|
53 |
|
|
Subsidiary |
Chonan, Chungchongnam-Do |
Korea, Republic of |
Metal Mining |
29.0 |
37 |
|
|
Subsidiary |
Compiegne |
France |
Metal Mining |
455.1 |
224 |
|
|
Subsidiary |
Neiva, Viana Do Castelo |
Portugal |
Electronic Instruments and Controls |
32.2 |
84 |
|
|
Subsidiary |
Anyang, Kyonggi-Do |
Korea, Republic of |
Miscellaneous Capital Goods |
540.5 |
20 |
|
Executives Report
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant
Developments
|
|
|
Annual Income
Statement
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
11,636.2 |
10,803.3 |
8,711.9 |
10,278.3 |
10,273.2 |
|
Revenue |
11,636.2 |
10,803.3 |
8,711.9 |
10,278.3 |
10,273.2 |
|
Total Revenue |
11,636.2 |
10,803.3 |
8,711.9 |
10,278.3 |
10,273.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
9,966.3 |
9,026.6 |
7,310.0 |
8,950.7 |
8,769.8 |
|
Cost of Revenue, Total |
9,966.3 |
9,026.6 |
7,310.0 |
8,950.7 |
8,769.8 |
|
Gross Profit |
1,669.9 |
1,776.8 |
1,401.9 |
1,327.6 |
1,503.4 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
2,167.2 |
657.2 |
557.7 |
591.6 |
535.1 |
|
Labor & Related Expense |
537.1 |
500.2 |
431.1 |
423.7 |
372.8 |
|
Total Selling/General/Administrative Expenses |
2,704.4 |
1,157.4 |
988.8 |
1,015.4 |
907.8 |
|
Research & Development |
187.2 |
162.7 |
147.7 |
157.4 |
121.0 |
|
Depreciation |
44.2 |
46.5 |
46.7 |
57.7 |
50.6 |
|
Depreciation/Amortization |
44.2 |
46.5 |
46.7 |
57.7 |
50.6 |
|
Restructuring Charge |
22.0 |
8.2 |
29.9 |
0.0 |
- |
|
Impairment-Assets Held for Use |
25.6 |
28.1 |
28.4 |
132.4 |
30.5 |
|
Impairment-Assets Held for Sale |
7.3 |
40.4 |
3.1 |
26.2 |
0.0 |
|
Other Unusual Expense (Income) |
243.2 |
49.9 |
81.8 |
21.1 |
47.2 |
|
Unusual Expense (Income) |
298.2 |
126.6 |
143.1 |
179.7 |
77.7 |
|
Total Operating Expense |
13,200.3 |
10,519.8 |
8,636.3 |
10,360.9 |
9,927.0 |
|
|
|
|
|
|
|
|
Operating Income |
-1,564.1 |
283.5 |
75.6 |
-82.6 |
346.2 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-66.3 |
-70.2 |
-69.0 |
-82.6 |
-76.8 |
|
Interest Expense, Net Non-Operating |
-66.3 |
-70.2 |
-69.0 |
-82.6 |
-76.8 |
|
Interest Income -
Non-Operating |
7.9 |
7.2 |
6.8 |
12.4 |
10.4 |
|
Investment Income -
Non-Operating |
93.5 |
48.3 |
128.5 |
-125.0 |
16.7 |
|
Interest/Investment Income - Non-Operating |
101.4 |
55.5 |
135.3 |
-112.6 |
27.1 |
|
Interest Income (Expense) - Net Non-Operating Total |
35.0 |
-14.6 |
66.3 |
-195.2 |
-49.6 |
|
Gain (Loss) on Sale of Assets |
88.1 |
8.5 |
-15.2 |
-15.8 |
-16.3 |
|
Other Non-Operating Income (Expense) |
-2.4 |
-2.1 |
-8.8 |
-13.8 |
-8.7 |
|
Other, Net |
-2.4 |
-2.1 |
-8.8 |
-13.8 |
-8.7 |
|
Income Before Tax |
-1,443.4 |
275.3 |
117.8 |
-307.5 |
271.5 |
|
|
|
|
|
|
|
|
Total Income Tax |
145.6 |
63.3 |
14.7 |
126.7 |
100.3 |
|
Income After Tax |
-1,589.0 |
212.0 |
103.0 |
-434.2 |
171.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-19.8 |
-69.4 |
1.4 |
61.9 |
-37.4 |
|
Net Income Before Extraord Items |
-1,608.8 |
142.6 |
104.4 |
-372.2 |
133.8 |
|
Net Income |
-1,608.8 |
142.6 |
104.4 |
-372.2 |
133.8 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
-1,608.8 |
142.5 |
104.4 |
-372.2 |
133.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-1,608.8 |
142.5 |
104.4 |
-372.2 |
133.8 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
706.1 |
706.1 |
703.1 |
701.2 |
701.0 |
|
Basic EPS Excl Extraord Items |
-2.28 |
0.20 |
0.15 |
-0.53 |
0.19 |
|
Basic/Primary EPS Incl Extraord Items |
-2.28 |
0.20 |
0.15 |
-0.53 |
0.19 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-1,608.8 |
142.5 |
104.4 |
-372.2 |
133.8 |
|
Diluted Weighted Average Shares |
706.1 |
706.1 |
703.1 |
701.2 |
701.1 |
|
Diluted EPS Excl Extraord Items |
-2.28 |
0.20 |
0.15 |
-0.53 |
0.19 |
|
Diluted EPS Incl Extraord Items |
-2.28 |
0.20 |
0.15 |
-0.53 |
0.19 |
|
Dividends per Share - Common Stock Primary Issue |
0.03 |
0.06 |
0.05 |
0.06 |
0.06 |
|
Gross Dividends - Common Stock |
22.4 |
45.3 |
37.9 |
41.9 |
42.7 |
|
Interest Expense, Supplemental |
66.3 |
70.2 |
69.0 |
82.6 |
76.8 |
|
Depreciation, Supplemental |
496.6 |
471.4 |
456.9 |
467.1 |
368.6 |
|
Total Special Items |
210.1 |
118.1 |
158.3 |
195.5 |
94.0 |
|
Normalized Income Before Tax |
-1,233.3 |
393.4 |
276.1 |
-111.9 |
365.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
73.5 |
27.2 |
19.8 |
68.4 |
34.7 |
|
Inc Tax Ex Impact of Sp Items |
219.1 |
90.4 |
34.6 |
195.1 |
135.0 |
|
Normalized Income After Tax |
-1,452.4 |
303.0 |
241.5 |
-307.1 |
230.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-1,472.2 |
233.5 |
242.9 |
-245.2 |
193.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-2.09 |
0.33 |
0.35 |
-0.35 |
0.28 |
|
Diluted Normalized EPS |
-2.09 |
0.33 |
0.35 |
-0.35 |
0.28 |
|
Research & Development Exp, Supplemental |
52.8 |
213.5 |
185.8 |
198.0 |
173.1 |
|
Reported Operating Profit |
202.0 |
410.1 |
218.6 |
97.0 |
423.8 |
|
Reported Ordinary Profit |
163.0 |
366.7 |
208.2 |
-147.2 |
357.2 |
|
Normalized EBIT |
-1,265.9 |
410.1 |
218.7 |
97.1 |
423.8 |
|
Normalized EBITDA |
-769.3 |
881.5 |
675.5 |
564.1 |
792.4 |
|
Current Tax - Total |
71.0 |
- |
- |
- |
- |
|
Current Tax - Total |
71.0 |
- |
- |
- |
- |
|
Deferred Tax - Total |
74.6 |
- |
- |
- |
- |
|
Deferred Tax - Total |
74.6 |
- |
- |
- |
- |
|
Income Tax - Total |
145.6 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
28.7 |
28.0 |
30.5 |
29.4 |
26.9 |
|
Service Cost - Domestic |
83.3 |
71.4 |
58.7 |
55.3 |
44.2 |
|
Prior Service Cost - Domestic |
2.0 |
1.2 |
0.7 |
-2.1 |
0.2 |
|
Expected Return on Assets - Domestic |
-15.7 |
-11.0 |
-9.2 |
-10.8 |
-10.6 |
|
Actuarial Gains and Losses - Domestic |
35.2 |
31.6 |
21.5 |
25.2 |
10.5 |
|
Domestic Pension Plan Expense |
133.4 |
121.2 |
102.2 |
97.1 |
71.2 |
|
Total Pension Expense |
133.4 |
121.2 |
102.2 |
97.1 |
71.2 |
|
Discount Rate - Domestic |
1.20% |
1.20% |
1.70% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Total Plan Interest Cost |
28.7 |
28.0 |
30.5 |
29.4 |
26.9 |
|
Total Plan Service Cost |
83.3 |
71.4 |
58.7 |
55.3 |
44.2 |
|
Total Plan Expected Return |
-15.7 |
-11.0 |
-9.2 |
-10.8 |
-10.6 |
|
|
|
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 |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
403.5 |
505.5 |
485.3 |
571.8 |
475.5 |
|
Short Term Investments |
1.4 |
1.4 |
0.2 |
0.2 |
0.4 |
|
Cash and Short Term Investments |
404.9 |
506.9 |
485.5 |
572.0 |
475.9 |
|
Accounts Receivable -
Trade, Gross |
2,694.6 |
2,740.7 |
2,323.4 |
1,831.8 |
2,825.2 |
|
Provision for Doubtful
Accounts |
-10.9 |
-21.5 |
-20.6 |
-19.1 |
-18.5 |
|
Trade Accounts Receivable - Net |
2,683.8 |
2,719.1 |
2,302.8 |
1,812.7 |
2,806.6 |
|
Other Receivables |
- |
248.1 |
177.2 |
302.0 |
287.5 |
|
Total Receivables, Net |
2,683.8 |
2,967.2 |
2,479.9 |
2,114.7 |
3,094.2 |
|
Inventories - Finished Goods |
340.7 |
364.4 |
307.2 |
281.9 |
365.4 |
|
Inventories - Work In Progress |
347.3 |
366.3 |
271.0 |
296.5 |
433.9 |
|
Inventories - Raw Materials |
463.8 |
474.7 |
353.2 |
364.5 |
386.2 |
|
Total Inventory |
1,151.7 |
1,205.4 |
931.4 |
942.9 |
1,185.5 |
|
Deferred Income Tax - Current Asset |
81.7 |
93.5 |
78.6 |
70.3 |
81.2 |
|
Other Current Assets |
412.9 |
292.1 |
310.7 |
322.2 |
201.0 |
|
Other Current Assets, Total |
494.6 |
385.6 |
389.3 |
392.5 |
282.2 |
|
Total Current Assets |
4,735.0 |
5,065.2 |
4,286.1 |
4,022.1 |
5,037.7 |
|
|
|
|
|
|
|
|
Buildings |
3,069.0 |
3,036.4 |
2,679.9 |
2,533.4 |
2,555.8 |
|
Land/Improvements |
1,031.0 |
1,003.6 |
895.2 |
853.4 |
882.3 |
|
Machinery/Equipment |
8,730.9 |
8,584.0 |
7,570.9 |
7,061.3 |
7,195.0 |
|
Construction in
Progress |
132.7 |
89.3 |
141.9 |
157.3 |
132.0 |
|
Other
Property/Plant/Equipment |
19.2 |
16.4 |
7.2 |
4.5 |
0.0 |
|
Property/Plant/Equipment - Gross |
12,982.7 |
12,729.7 |
11,295.1 |
10,609.9 |
10,765.1 |
|
Accumulated Depreciation |
-9,801.1 |
-9,435.5 |
-8,178.8 |
-7,450.3 |
-7,367.0 |
|
Property/Plant/Equipment - Net |
3,181.7 |
3,294.2 |
3,116.3 |
3,159.6 |
3,398.1 |
|
Goodwill, Net |
75.0 |
90.4 |
99.0 |
93.4 |
180.3 |
|
Intangibles, Net |
94.6 |
105.7 |
107.4 |
116.4 |
186.7 |
|
LT Investment - Affiliate Companies |
721.1 |
528.8 |
458.1 |
- |
- |
|
LT Investments - Other |
516.3 |
712.5 |
707.2 |
889.1 |
1,164.5 |
|
Long Term Investments |
1,237.5 |
1,241.2 |
1,165.4 |
889.1 |
1,164.5 |
|
Note Receivable - Long Term |
17.2 |
20.8 |
27.3 |
25.7 |
36.0 |
|
Deferred Income Tax - Long Term Asset |
129.6 |
152.5 |
131.4 |
159.8 |
108.7 |
|
Other Long Term Assets |
119.8 |
7.3 |
12.0 |
95.7 |
83.1 |
|
Other Long Term Assets, Total |
249.4 |
159.8 |
143.4 |
255.5 |
191.8 |
|
Total Assets |
9,590.5 |
9,977.4 |
8,944.9 |
8,561.8 |
10,195.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,480.8 |
1,458.4 |
1,231.2 |
974.7 |
1,507.6 |
|
Notes Payable/Short Term Debt |
1,721.9 |
1,201.4 |
1,056.3 |
1,598.2 |
1,839.3 |
|
Current Portion - Long Term Debt/Capital Leases |
201.0 |
655.9 |
629.0 |
23.2 |
67.5 |
|
Customer Advances |
42.0 |
33.6 |
28.6 |
45.7 |
40.2 |
|
Income Taxes Payable |
13.5 |
44.8 |
25.1 |
28.9 |
140.7 |
|
Deferred Income Tax - Current Liability |
0.4 |
0.7 |
0.2 |
0.2 |
0.1 |
|
Other Current Liabilities |
736.5 |
693.7 |
586.0 |
694.2 |
616.0 |
|
Other Current liabilities, Total |
792.4 |
772.8 |
639.9 |
769.0 |
797.0 |
|
Total Current Liabilities |
4,196.2 |
4,088.5 |
3,556.4 |
3,365.1 |
4,211.3 |
|
|
|
|
|
|
|
|
Long Term Debt |
2,024.6 |
2,278.8 |
2,195.3 |
2,257.4 |
2,102.4 |
|
Capital Lease Obligations |
- |
35.1 |
15.7 |
- |
- |
|
Total Long Term Debt |
2,024.6 |
2,313.9 |
2,210.9 |
2,257.4 |
2,102.4 |
|
Total Debt |
3,947.5 |
4,171.3 |
3,896.2 |
3,878.8 |
4,009.1 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
9.0 |
2.5 |
28.4 |
39.1 |
5.3 |
|
Deferred Income Tax |
9.0 |
2.5 |
28.4 |
39.1 |
5.3 |
|
Minority Interest |
641.8 |
602.5 |
487.1 |
483.2 |
633.4 |
|
Reserves |
162.1 |
160.9 |
137.5 |
138.2 |
34.2 |
|
Pension Benefits - Underfunded |
698.7 |
712.6 |
693.5 |
733.4 |
778.1 |
|
Other Long Term Liabilities |
101.7 |
94.0 |
82.2 |
100.5 |
100.2 |
|
Other Liabilities, Total |
962.5 |
967.5 |
913.2 |
972.2 |
912.5 |
|
Total Liabilities |
7,834.1 |
7,975.0 |
7,196.0 |
7,117.1 |
7,864.9 |
|
|
|
|
|
|
|
|
Common Stock |
842.3 |
837.3 |
742.7 |
702.4 |
697.0 |
|
Common Stock |
842.3 |
837.3 |
742.7 |
702.4 |
697.0 |
|
Additional Paid-In Capital |
260.6 |
259.0 |
229.7 |
217.2 |
215.5 |
|
Retained Earnings (Accumulated Deficit) |
879.8 |
1,049.8 |
770.4 |
665.6 |
1,202.7 |
|
Treasury Stock - Common |
-3.3 |
-3.3 |
-2.5 |
-23.1 |
-51.7 |
|
Unrealized Gain (Loss) |
147.3 |
179.3 |
186.1 |
72.4 |
268.7 |
|
Translation Adjustment |
-321.1 |
-276.0 |
-177.5 |
-189.6 |
-2.0 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Minimum Pension Liability Adjustment |
-49.2 |
-43.6 |
0.0 |
- |
- |
|
Other Equity, Total |
-370.4 |
-319.6 |
-177.5 |
-189.6 |
-2.0 |
|
Total Equity |
1,756.3 |
2,002.5 |
1,748.9 |
1,444.8 |
2,330.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
9,590.5 |
9,977.5 |
8,944.9 |
8,561.8 |
10,195.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
706.1 |
706.1 |
706.2 |
702.4 |
697.3 |
|
Total Common Shares Outstanding |
706.1 |
706.1 |
706.2 |
702.4 |
697.3 |
|
Treasury Shares - Common Stock Primary Issue |
0.6 |
0.6 |
0.4 |
4.1 |
9.2 |
|
Employees |
45,425 |
39,352 |
37,737 |
37,427 |
37,669 |
|
Number of Common Shareholders |
67,857 |
66,138 |
63,119 |
67,176 |
67,585 |
|
Deferred Revenue - Current |
42.0 |
33.6 |
28.6 |
45.7 |
40.2 |
|
Total Long Term Debt, Supplemental |
2,758.0 |
2,920.4 |
2,818.8 |
2,579.6 |
2,704.2 |
|
Long Term Debt Maturing within 1 Year |
733.4 |
641.6 |
623.5 |
322.2 |
601.8 |
|
Long Term Debt Maturing in Year 2 |
432.2 |
692.5 |
521.5 |
479.8 |
320.7 |
|
Long Term Debt Maturing in Year 3 |
674.2 |
367.5 |
592.4 |
500.3 |
563.0 |
|
Long Term Debt Maturing in Year 4 |
476.4 |
607.5 |
329.8 |
427.2 |
430.3 |
|
Long Term Debt Maturing in Year 5 |
362.1 |
272.9 |
348.6 |
430.5 |
462.7 |
|
Long Term Debt Maturing in 2-3 Years |
1,106.4 |
1,060.0 |
1,113.8 |
980.1 |
883.7 |
|
Long Term Debt Maturing in 4-5 Years |
838.4 |
880.4 |
678.4 |
857.6 |
893.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
79.8 |
338.5 |
403.0 |
419.7 |
325.7 |
|
Total Capital Leases, Supplemental |
39.9 |
49.4 |
21.2 |
21.5 |
- |
|
Capital Lease Payments Due in Year 1 |
11.2 |
14.3 |
5.5 |
5.0 |
- |
|
Capital Lease Payments Due in Year 2 |
9.5 |
9.6 |
4.1 |
3.9 |
- |
|
Capital Lease Payments Due in Year 3 |
8.3 |
8.4 |
3.3 |
3.2 |
- |
|
Capital Lease Payments Due in Year 4 |
8.3 |
7.2 |
2.8 |
3.0 |
- |
|
Capital Lease Payments Due in Year 5 |
0.9 |
7.4 |
2.2 |
2.6 |
- |
|
Capital Lease Payments Due in 2-3 Years |
17.8 |
18.1 |
7.4 |
7.1 |
- |
|
Capital Lease Payments Due in 4-5 Years |
9.2 |
14.6 |
4.9 |
5.6 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
1.7 |
2.4 |
3.4 |
3.8 |
- |
|
Pension Obligation - Domestic |
1,385.0 |
1,342.9 |
1,204.9 |
1,104.7 |
1,176.9 |
|
Plan Assets - Domestic |
520.8 |
435.1 |
333.9 |
246.5 |
304.7 |
|
Funded Status - Domestic |
-864.2 |
-907.8 |
-870.9 |
-858.3 |
-872.2 |
|
Total Funded Status |
-864.2 |
-907.8 |
-870.9 |
-858.3 |
-872.2 |
|
Discount Rate - Domestic |
1.20% |
1.20% |
1.70% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Prepaid Benefits - Domestic |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accrued Liabilities - Domestic |
-698.7 |
-712.6 |
-693.5 |
-733.4 |
-778.1 |
|
Other Assets, Net - Domestic |
165.4 |
195.1 |
177.4 |
124.8 |
94.0 |
|
Net Assets Recognized on Balance Sheet |
-533.3 |
-517.5 |
-516.0 |
-608.6 |
-684.1 |
|
Total Plan Obligations |
1,385.0 |
1,342.9 |
1,204.9 |
1,104.7 |
1,176.9 |
|
Total Plan Assets |
520.8 |
435.1 |
333.9 |
246.5 |
304.7 |
|
|
|
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 |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
24.5 |
275.2 |
117.8 |
-307.5 |
271.5 |
|
Depreciation |
496.6 |
471.4 |
456.9 |
467.1 |
368.6 |
|
Depreciation/Depletion |
496.6 |
471.4 |
456.9 |
467.1 |
368.6 |
|
Unusual Items |
-97.9 |
41.4 |
-8.6 |
-5.6 |
68.3 |
|
Equity in Net Earnings (Loss) |
-1.6 |
-7.4 |
-35.2 |
-2.9 |
-16.6 |
|
Other Non-Cash Items |
-39.2 |
-20.9 |
-51.9 |
309.4 |
83.5 |
|
Non-Cash Items |
-138.8 |
13.1 |
-95.7 |
300.9 |
135.2 |
|
Accounts Receivable |
59.9 |
-154.4 |
-415.7 |
868.7 |
184.3 |
|
Inventories |
44.9 |
-183.4 |
76.6 |
156.4 |
-32.1 |
|
Accounts Payable |
-10.5 |
75.0 |
204.6 |
-439.7 |
-118.9 |
|
Other Operating Cash Flow |
-16.6 |
-63.7 |
50.1 |
-257.5 |
-6.1 |
|
Changes in Working Capital |
77.6 |
-326.5 |
-84.4 |
327.9 |
27.3 |
|
Cash from Operating Activities |
460.0 |
433.2 |
394.5 |
788.4 |
802.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-388.0 |
-269.4 |
-300.0 |
-389.4 |
-375.8 |
|
Purchase/Acquisition of Intangibles |
-28.7 |
-24.6 |
-20.9 |
-21.4 |
-20.2 |
|
Capital Expenditures |
-416.7 |
-294.1 |
-320.9 |
-410.8 |
-396.0 |
|
Sale of Fixed Assets |
166.1 |
25.7 |
24.8 |
8.6 |
20.1 |
|
Sale/Maturity of Investment |
110.1 |
52.9 |
186.2 |
8.7 |
132.8 |
|
Investment, Net |
- |
- |
- |
0.0 |
-29.7 |
|
Purchase of Investments |
-260.7 |
-49.4 |
-160.0 |
-36.5 |
-53.1 |
|
Other Investing Cash Flow |
144.8 |
15.3 |
-0.3 |
-80.2 |
-130.0 |
|
Other Investing Cash Flow Items, Total |
160.3 |
44.5 |
50.7 |
-99.4 |
-59.9 |
|
Cash from Investing Activities |
-256.5 |
-249.5 |
-270.2 |
-510.2 |
-455.9 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-6.7 |
-11.0 |
-6.0 |
-13.2 |
-12.7 |
|
Financing Cash Flow Items |
-6.7 |
-11.0 |
-6.0 |
-13.2 |
-12.7 |
|
Cash Dividends Paid - Common |
-49.2 |
-41.2 |
-37.8 |
-48.7 |
-43.0 |
|
Total Cash Dividends Paid |
-49.2 |
-41.2 |
-37.8 |
-48.7 |
-43.0 |
|
Sale/Issuance of
Common |
- |
2.2 |
0.4 |
0.0 |
0.2 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
0.0 |
-1.2 |
-44.5 |
|
Common Stock, Net |
0.0 |
2.2 |
0.4 |
-1.1 |
-44.3 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
2.2 |
0.4 |
-1.1 |
-44.3 |
|
Short Term Debt, Net |
-15.6 |
66.5 |
-292.1 |
49.7 |
-87.4 |
|
Long Term Debt Issued |
450.0 |
458.2 |
452.7 |
462.1 |
522.5 |
|
Long Term Debt Reduction |
-667.7 |
-688.4 |
-370.8 |
-593.6 |
-699.0 |
|
Long Term Debt, Net |
-217.8 |
-230.2 |
81.9 |
-131.5 |
-176.5 |
|
Issuance (Retirement) of Debt, Net |
-233.4 |
-163.8 |
-210.2 |
-81.8 |
-263.9 |
|
Cash from Financing Activities |
-289.3 |
-213.7 |
-253.7 |
-144.8 |
-363.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-10.0 |
-14.0 |
3.4 |
-37.6 |
-0.7 |
|
Net Change in Cash |
-95.8 |
-44.1 |
-126.0 |
95.8 |
-17.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
476.8 |
483.4 |
565.1 |
436.2 |
401.2 |
|
Net Cash - Ending Balance |
381.0 |
439.3 |
439.1 |
532.0 |
383.4 |
|
Cash Interest Paid |
67.8 |
71.0 |
69.3 |
84.3 |
77.5 |
|
Cash Taxes Paid |
111.7 |
65.6 |
-30.7 |
132.4 |
143.6 |
|
|
|
|
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 |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
11,636.2 |
10,803.3 |
8,711.9 |
10,278.3 |
10,273.2 |
|
Total Revenue |
11,636.2 |
10,803.3 |
8,711.9 |
10,278.3 |
10,273.2 |
|
|
|
|
|
|
|
|
Total |
9,966.3 |
9,026.6 |
7,310.0 |
8,950.7 |
8,769.8 |
|
Other Selling/General/Admin. Expense |
399.1 |
- |
- |
- |
- |
|
Selling Expenses |
447.5 |
- |
- |
- |
- |
|
General And Administrative Expenses |
1,020.4 |
- |
- |
- |
- |
|
Packing & Freight-out cost |
272.4 |
261.4 |
224.4 |
232.9 |
217.9 |
|
Sales Commission expense |
27.8 |
29.4 |
24.0 |
27.8 |
26.2 |
|
Payroll |
497.8 |
463.0 |
402.7 |
392.1 |
349.8 |
|
Periodic pension cost |
39.4 |
37.2 |
28.4 |
31.7 |
23.0 |
|
Depreciation expense |
44.2 |
46.5 |
46.7 |
57.7 |
50.6 |
|
Research & Development expense |
187.2 |
162.7 |
147.7 |
157.4 |
121.0 |
|
Other SGA |
- |
366.4 |
309.3 |
331.0 |
290.9 |
|
Penalty by Antitrust law |
193.7 |
- |
- |
- |
- |
|
SP Reversal G on foreign curr. trans. |
- |
- |
0.0 |
-184.2 |
0.0 |
|
SP Rev. of allowance for doubtful acct. |
-4.6 |
-17.6 |
-10.8 |
0.0 |
- |
|
SP Provision for Products warranties |
- |
-10.5 |
0.0 |
- |
- |
|
SP Burden charge returned-oversea sub. |
- |
- |
- |
0.0 |
-17.1 |
|
SP Subsidy income |
- |
- |
- |
0.0 |
-4.9 |
|
SP Other Special Gains |
-23.5 |
-15.4 |
-13.0 |
-39.5 |
-17.1 |
|
SP Loss Asset Impairement |
25.6 |
28.1 |
28.4 |
132.4 |
30.5 |
|
SP Doubt Debt Allow |
- |
- |
3.1 |
22.8 |
19.9 |
|
SP Reserve for Environment Remedy |
- |
- |
2.1 |
124.2 |
16.1 |
|
SP Pro. for antitrust law related loss |
- |
0.0 |
49.6 |
0.0 |
- |
|
Restructuring expenses |
22.0 |
8.2 |
29.9 |
0.0 |
- |
|
SP Loss Valuation Invest Secs |
7.3 |
40.4 |
3.1 |
26.2 |
0.0 |
|
SP L-adjust for change of accts assets |
0.0 |
14.4 |
0.0 |
- |
- |
|
SP loss on desaster |
0.0 |
30.5 |
- |
- |
- |
|
SP Penalty by Antitrust law |
- |
0.0 |
- |
- |
- |
|
SP Other Special Loss |
77.6 |
48.5 |
50.9 |
97.8 |
50.4 |
|
Total Operating Expense |
13,200.3 |
10,519.8 |
8,636.3 |
10,360.9 |
9,927.0 |
|
|
|
|
|
|
|
|
Gain on disposal of noncurrent assets |
106.0 |
14.8 |
3.8 |
4.9 |
- |
|
SP Gain-Fix Asset Sold |
- |
- |
- |
- |
0.0 |
|
SP Sale of Inv. Secs. |
71.6 |
26.7 |
67.9 |
35.2 |
8.3 |
|
SP Loss-Fix Asset Disp. |
-18.0 |
-6.3 |
-19.0 |
-20.7 |
-16.3 |
|
NOP Interest Income |
7.9 |
7.2 |
6.8 |
12.4 |
10.4 |
|
NOP Dividend Income |
21.4 |
20.4 |
16.7 |
21.7 |
19.2 |
|
NOP Gain Equity Investment |
1.6 |
7.4 |
35.2 |
2.9 |
16.6 |
|
NOP Exchange Gain |
- |
0.0 |
8.6 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP G on settlement of hedge |
- |
- |
- |
0.0 |
11.4 |
|
NOP Other Income |
25.1 |
21.1 |
21.9 |
23.4 |
17.5 |
|
NOP Interest Expenses |
-66.3 |
-70.2 |
-69.0 |
-82.6 |
-76.8 |
|
NOP Foreign Exchange |
-1.1 |
-6.2 |
0.0 |
-184.8 |
-27.4 |
|
NOP L on Disposal of Inventories |
- |
- |
- |
- |
0.0 |
|
NOP Other Expenses |
-27.4 |
-23.3 |
-30.7 |
-37.3 |
-37.7 |
|
Net Income Before Taxes |
-1,443.4 |
275.3 |
117.8 |
-307.5 |
271.5 |
|
|
|
|
|
|
|
|
Total income taxes |
145.6 |
63.3 |
14.7 |
126.7 |
100.3 |
|
Net Income After Taxes |
-1,589.0 |
212.0 |
103.0 |
-434.2 |
171.2 |
|
|
|
|
|
|
|
|
Minority interests in income |
-19.8 |
- |
- |
- |
- |
|
Minority Interest |
- |
-69.4 |
1.4 |
61.9 |
-37.4 |
|
Net Income Before Extra. Items |
-1,608.8 |
142.6 |
104.4 |
-372.2 |
133.8 |
|
Net Income |
-1,608.8 |
142.6 |
104.4 |
-372.2 |
133.8 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
- |
- |
- |
- |
|
Bonus to directors |
- |
- |
0.0 |
0.0 |
- |
|
Rounding Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
-1,608.8 |
142.5 |
104.4 |
-372.2 |
133.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-1,608.8 |
142.5 |
104.4 |
-372.2 |
133.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
706.1 |
706.1 |
703.1 |
701.2 |
701.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
-2.28 |
0.20 |
0.15 |
-0.53 |
0.19 |
|
Basic EPS Including ExtraOrdinary Item |
-2.28 |
0.20 |
0.15 |
-0.53 |
0.19 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-1,608.8 |
142.5 |
104.4 |
-372.2 |
133.8 |
|
Diluted Weighted Average Shares |
706.1 |
706.1 |
703.1 |
701.2 |
701.1 |
|
Diluted EPS Excluding ExtraOrd Items |
-2.28 |
0.20 |
0.15 |
-0.53 |
0.19 |
|
Diluted EPS Including ExtraOrd Items |
-2.28 |
0.20 |
0.15 |
-0.53 |
0.19 |
|
DPS-Common Stock |
0.03 |
0.06 |
0.05 |
0.06 |
0.06 |
|
Gross Dividends - Common Stock |
22.4 |
45.3 |
37.9 |
41.9 |
42.7 |
|
Normalized Income Before Taxes |
-1,233.3 |
393.4 |
276.1 |
-111.9 |
365.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
219.1 |
90.4 |
34.6 |
195.1 |
135.0 |
|
Normalized Income After Taxes |
-1,452.4 |
303.0 |
241.5 |
-307.1 |
230.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-1,472.2 |
233.5 |
242.9 |
-245.2 |
193.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-2.09 |
0.33 |
0.35 |
-0.35 |
0.28 |
|
Diluted Normalized EPS |
-2.09 |
0.33 |
0.35 |
-0.35 |
0.28 |
|
Total Search And Development Expense |
52.8 |
- |
- |
- |
- |
|
Research & Development Exp(SGA) |
- |
162.7 |
147.7 |
157.4 |
121.0 |
|
Research & Develop.(Cost of sales) |
- |
50.8 |
38.1 |
40.6 |
52.1 |
|
Interest Expense |
66.3 |
70.2 |
69.0 |
82.6 |
76.8 |
|
Amort of Tangible Assets-Current Portion |
496.6 |
- |
- |
- |
- |
|
Depreciation |
- |
471.4 |
456.9 |
467.1 |
368.6 |
|
Income taxes-current |
71.0 |
- |
- |
- |
- |
|
Current Tax - Total |
71.0 |
- |
- |
- |
- |
|
Income taxes-deferred |
74.6 |
- |
- |
- |
- |
|
Deferred Tax - Total |
74.6 |
- |
- |
- |
- |
|
Income Tax - Total |
145.6 |
- |
- |
- |
- |
|
Reported operating profit |
202.0 |
410.1 |
218.6 |
97.0 |
423.8 |
|
Reported ordinary profit |
163.0 |
366.7 |
208.2 |
-147.2 |
357.2 |
|
Service cost |
83.3 |
71.4 |
58.7 |
55.3 |
44.2 |
|
Interest cost |
28.7 |
28.0 |
30.5 |
29.4 |
26.9 |
|
Expected return on plan assets |
-15.7 |
-11.0 |
-9.2 |
-10.8 |
-10.6 |
|
Actuarial gains and losses |
35.2 |
31.6 |
21.5 |
25.2 |
10.5 |
|
Prior service cost |
2.0 |
1.2 |
0.7 |
-2.1 |
0.2 |
|
Domestic Pension Plan Expense |
133.4 |
121.2 |
102.2 |
97.1 |
71.2 |
|
Total Pension Expense |
133.4 |
121.2 |
102.2 |
97.1 |
71.2 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.20% |
- |
- |
- |
- |
|
Discount rate |
- |
1.20% |
1.70% |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
2.00% |
- |
- |
- |
- |
|
Expected rate of return |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
|
|
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 |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash/Time Depo. |
403.5 |
505.5 |
485.3 |
571.8 |
475.5 |
|
Notes and accounts receivable-trade |
2,694.6 |
2,740.7 |
2,323.4 |
1,831.8 |
2,825.2 |
|
Short-term investment securities |
1.4 |
1.4 |
0.2 |
0.2 |
0.4 |
|
Finished Goods&Merchandise |
340.7 |
364.4 |
307.2 |
281.9 |
365.4 |
|
Raw Materials&Supplies |
463.8 |
474.7 |
353.2 |
364.5 |
386.2 |
|
Work in Process |
347.3 |
366.3 |
271.0 |
296.5 |
433.9 |
|
Deferred Taxes |
81.7 |
93.5 |
78.6 |
70.3 |
81.2 |
|
Other Receivable |
- |
227.8 |
160.6 |
208.9 |
261.3 |
|
Income tax refund rcvbl. |
- |
20.3 |
16.6 |
93.0 |
26.3 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Cur. Asset |
412.9 |
292.1 |
310.7 |
322.2 |
201.0 |
|
Doubtful Account |
-10.9 |
-21.5 |
-20.6 |
-19.1 |
-18.5 |
|
Total Current Assets |
4,735.0 |
5,065.2 |
4,286.1 |
4,022.1 |
5,037.7 |
|
|
|
|
|
|
|
|
other LT investment |
402.5 |
- |
- |
- |
- |
|
Building & Struc |
3,069.0 |
3,036.4 |
2,679.9 |
2,533.4 |
2,555.8 |
|
Machinery, equipment and vehicles |
7,742.4 |
7,635.2 |
6,728.1 |
6,263.8 |
6,373.9 |
|
Tools, furniture and fixtures |
988.4 |
948.8 |
842.9 |
797.5 |
821.1 |
|
Land |
1,031.0 |
1,003.6 |
895.2 |
853.4 |
882.3 |
|
Lease Assets |
19.2 |
16.4 |
7.2 |
4.5 |
0.0 |
|
Constr. in Prog. |
132.7 |
89.3 |
141.9 |
157.3 |
132.0 |
|
Depreciation |
-9,801.1 |
-9,435.5 |
-8,178.8 |
-7,450.3 |
-7,367.0 |
|
Goodwill |
75.0 |
90.4 |
99.0 |
93.4 |
180.3 |
|
Other Total Intangible Assets, Net |
0.0 |
- |
- |
- |
- |
|
Other Intangible |
94.6 |
105.7 |
107.4 |
116.4 |
186.7 |
|
Inv. Securities |
- |
606.4 |
621.4 |
833.3 |
1,076.3 |
|
Invt Secs Noncons, Asc, Affd Cos |
609.0 |
- |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
112.2 |
- |
- |
- |
- |
|
Equity secs.-nonconsol affil.&sub. |
- |
424.4 |
373.7 |
- |
- |
|
Inv't partnership-nonconsol.affil.&subs. |
- |
104.3 |
84.4 |
- |
- |
|
Inv Contribution |
113.9 |
106.0 |
85.8 |
55.8 |
88.3 |
|
Long-term loans receivable |
17.2 |
20.8 |
27.3 |
25.7 |
36.0 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other |
140.9 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Long-term prepaid expenses |
8.9 |
10.2 |
7.9 |
9.3 |
12.4 |
|
Deferred tax assets |
129.6 |
152.5 |
131.4 |
159.8 |
108.7 |
|
Other long-term Assets |
- |
40.3 |
40.1 |
134.9 |
118.1 |
|
Doubt Debt Allow |
-30.0 |
-43.3 |
-36.0 |
-48.6 |
-47.5 |
|
Adjustment |
- |
- |
0.0 |
0.0 |
- |
|
other PPE, net |
0.0 |
- |
- |
- |
- |
|
Total Assets |
9,590.5 |
9,977.4 |
8,944.9 |
8,561.8 |
10,195.1 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
1,480.8 |
1,458.4 |
1,231.2 |
974.7 |
1,507.6 |
|
Short-term loans payable |
1,721.9 |
1,201.4 |
1,056.3 |
1,537.4 |
1,728.8 |
|
Current LT Debt |
- |
349.6 |
282.7 |
- |
- |
|
Lease liabilities, current |
- |
14.3 |
5.5 |
- |
- |
|
Commercial Paper |
- |
- |
0.0 |
60.7 |
110.5 |
|
Bonds(Current) |
201.0 |
292.0 |
340.8 |
23.2 |
67.5 |
|
Accrued Inc. Tax |
13.5 |
44.8 |
25.1 |
28.9 |
140.7 |
|
Deferred Taxes |
0.4 |
0.7 |
0.2 |
0.2 |
0.1 |
|
Customer Advance |
42.0 |
33.6 |
28.6 |
45.7 |
40.2 |
|
Other |
714.0 |
- |
- |
- |
- |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Provision for antitrust law |
- |
0.0 |
49.3 |
0.0 |
- |
|
Provision for finished goods compensatio |
19.3 |
27.3 |
38.2 |
53.0 |
34.2 |
|
Provision for loss on disaster |
3.2 |
18.2 |
0.0 |
- |
- |
|
V |
- |
648.1 |
498.5 |
641.3 |
581.8 |
|
Total Current Liabilities |
4,196.2 |
4,088.5 |
3,556.4 |
3,365.1 |
4,211.3 |
|
|
|
|
|
|
|
|
Lease liabilities |
- |
35.1 |
15.7 |
- |
- |
|
Corporate Debt |
273.7 |
348.3 |
459.1 |
737.9 |
699.8 |
|
Long-term loans payable |
1,751.0 |
1,930.5 |
1,736.2 |
1,519.6 |
1,402.6 |
|
Total Long Term Debt |
2,024.6 |
2,313.9 |
2,210.9 |
2,257.4 |
2,102.4 |
|
|
|
|
|
|
|
|
Deferred Taxes |
9.0 |
2.5 |
28.4 |
39.1 |
5.3 |
|
Accrd. Severance |
698.7 |
712.6 |
693.5 |
733.4 |
778.1 |
|
Reserve for environmental |
147.4 |
145.0 |
137.5 |
138.2 |
34.2 |
|
Assets retirement obligation |
14.7 |
15.9 |
0.0 |
- |
- |
|
Other |
101.6 |
- |
- |
- |
- |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Other LT Liab.C |
- |
94.0 |
82.2 |
100.5 |
100.2 |
|
Minority Inter. |
641.8 |
602.5 |
487.1 |
483.2 |
633.4 |
|
Total Liabilities |
7,834.1 |
7,975.0 |
7,196.0 |
7,117.1 |
7,864.9 |
|
|
|
|
|
|
|
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Common Stock |
842.3 |
837.3 |
742.7 |
702.4 |
697.0 |
|
Total capital surpluses |
260.6 |
259.0 |
229.7 |
217.2 |
215.5 |
|
Total retained earnings |
879.8 |
1,049.8 |
770.4 |
665.6 |
1,202.7 |
|
Treasury |
-3.3 |
-3.3 |
-2.5 |
-23.1 |
-51.7 |
|
Valuation difference on available-for-sa |
140.2 |
171.6 |
176.4 |
127.7 |
248.5 |
|
Hedge |
7.1 |
7.7 |
9.7 |
-55.3 |
20.3 |
|
Adjustment for retirement benefits of fo |
-49.2 |
-43.6 |
0.0 |
- |
- |
|
Currency Conv. |
-321.1 |
-276.0 |
-177.5 |
-189.6 |
-2.0 |
|
Total Equity |
1,756.3 |
2,002.5 |
1,748.9 |
1,444.8 |
2,330.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
9,590.5 |
9,977.5 |
8,944.9 |
8,561.8 |
10,195.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
706.1 |
706.1 |
706.2 |
702.4 |
697.3 |
|
Total Common Shares Outstanding |
706.1 |
706.1 |
706.2 |
702.4 |
697.3 |
|
T/S-Common Stock |
0.6 |
0.6 |
0.4 |
4.1 |
9.2 |
|
Deferred Revenue - Current |
42.0 |
33.6 |
28.6 |
45.7 |
40.2 |
|
Full-Time Employees |
45,425 |
39,352 |
37,737 |
37,427 |
37,669 |
|
Total Number of Shareholders |
67,857 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
66,138 |
63,119 |
67,176 |
67,585 |
|
Within One Year |
201.0 |
- |
- |
- |
- |
|
Division And End Of Current Period Remai |
532.3 |
- |
- |
- |
- |
|
LT Debts Maturing within 1yr. |
- |
641.6 |
623.5 |
322.2 |
601.8 |
|
Over One Year And Within Two Years |
28.1 |
- |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
404.1 |
- |
- |
- |
- |
|
LT Debts Maturing within 2yr. |
- |
692.5 |
521.5 |
479.8 |
320.7 |
|
Over Two Years And Within Three Years |
1.9 |
- |
- |
- |
- |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
672.4 |
- |
- |
- |
- |
|
LT Debts Maturing within 3yr. |
- |
367.5 |
592.4 |
500.3 |
563.0 |
|
Over Three Years And Within Four Years |
122.0 |
- |
- |
- |
- |
|
Over Four Years And Within Five Years |
121.7 |
- |
- |
- |
- |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
232.6 |
- |
- |
- |
- |
|
LT Debts Maturing within 4yr. |
- |
607.5 |
329.8 |
427.2 |
430.3 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
362.1 |
- |
- |
- |
- |
|
LT Debts Maturing within 5yr. |
- |
272.9 |
348.6 |
430.5 |
462.7 |
|
Loans Payable Remaining |
79.8 |
- |
- |
- |
- |
|
Remaining |
- |
338.5 |
403.0 |
419.7 |
325.7 |
|
Total Long Term Debt, Supplemental |
2,758.0 |
2,920.4 |
2,818.8 |
2,579.6 |
2,704.2 |
|
Capital Lease Maturing within 1 Year |
11.2 |
14.3 |
5.5 |
5.0 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
9.5 |
- |
- |
- |
- |
|
Capital Lease Maturing within 2 Years |
- |
9.6 |
4.1 |
3.9 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
8.3 |
- |
- |
- |
- |
|
Capital Lease Maturing within 3 Years |
- |
8.4 |
3.3 |
3.2 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
8.3 |
- |
- |
- |
- |
|
Capital Lease Maturing within 4 Years |
- |
7.2 |
2.8 |
3.0 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.9 |
- |
- |
- |
- |
|
Capital Lease Maturing within 5 Years |
- |
7.4 |
2.2 |
2.6 |
- |
|
Capital Lease Remaining |
1.7 |
- |
- |
- |
- |
|
Remaining |
- |
2.4 |
3.4 |
3.8 |
- |
|
Total Capital Leases |
39.9 |
49.4 |
21.2 |
21.5 |
- |
|
Pension obligation |
1,385.0 |
1,342.9 |
1,204.9 |
1,104.7 |
1,176.9 |
|
FV of plan assets |
520.8 |
435.1 |
333.9 |
246.5 |
304.7 |
|
Funded status |
-864.2 |
-907.8 |
-870.9 |
-858.3 |
-872.2 |
|
Total Funded Status |
-864.2 |
-907.8 |
-870.9 |
-858.3 |
-872.2 |
|
Discount rate |
1.20% |
1.20% |
1.70% |
2.00% |
2.00% |
|
Expected rate of return |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Unrecognized actuarial gains and losses |
153.1 |
181.0 |
171.5 |
118.6 |
93.7 |
|
Unrecognized prior service cost |
12.3 |
14.1 |
5.9 |
6.2 |
0.3 |
|
Prepaid pension benefit |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Reserve for accrued retirement benefits |
-698.7 |
-712.6 |
-693.5 |
-733.4 |
-778.1 |
|
Net Assets Recognized on Balance Sheet |
-533.3 |
-517.5 |
-516.0 |
-608.6 |
-684.1 |
|
|
|
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 |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Income before Tax |
24.5 |
275.2 |
117.8 |
-307.5 |
271.5 |
|
Depreciation |
496.6 |
471.4 |
456.9 |
467.1 |
368.6 |
|
Equity in (earnings) losses of affiliate |
-1.6 |
-7.4 |
-35.2 |
-2.9 |
-16.6 |
|
Gain on sales of marketable securities a |
-63.0 |
-25.2 |
-61.2 |
-34.7 |
-0.9 |
|
Loss (gain) on valuation of investment s |
7.3 |
40.4 |
3.1 |
26.2 |
13.2 |
|
Gain Disp. PP&E |
- |
- |
- |
- |
0.0 |
|
Loss (gain) on disposal of noncurrent as |
-88.0 |
-8.5 |
15.2 |
15.8 |
15.1 |
|
Fixed Assets Impairment |
25.6 |
28.1 |
28.4 |
132.4 |
30.5 |
|
Loss Disp. Inventory |
- |
- |
- |
0.0 |
10.5 |
|
Val. of Inventories |
20.2 |
6.5 |
6.0 |
38.9 |
0.0 |
|
Interest/Div. Income |
-29.3 |
-27.6 |
-23.6 |
-34.1 |
-29.7 |
|
Interest Expense |
66.3 |
70.2 |
69.0 |
82.6 |
76.8 |
|
Foreign exchange losses (gains) |
0.9 |
2.7 |
-18.0 |
183.2 |
22.3 |
|
Rev. G on foreign curr. trans.-subsi. |
- |
- |
0.0 |
-184.2 |
0.0 |
|
Decrease (increase) in notes and account |
59.9 |
-154.4 |
-415.7 |
868.7 |
-17.7 |
|
Decrease (increase) in inventories |
44.9 |
-183.4 |
76.6 |
156.4 |
-32.1 |
|
Increase (decrease) in notes and account |
-10.5 |
75.0 |
204.6 |
-439.7 |
-118.9 |
|
Tax refund receivable |
- |
- |
- |
0.0 |
202.1 |
|
Increase (decrease) in provision for ret |
-61.1 |
-53.8 |
-65.2 |
-38.9 |
-10.3 |
|
Increase (decrease) in provision for env |
-16.2 |
-12.3 |
-14.2 |
111.7 |
15.8 |
|
Increase In Cash And Cash Equivalents Fr |
70.3 |
- |
- |
- |
- |
|
Increase In Cash And Cash Equivalents Re |
0.0 |
- |
- |
- |
- |
|
Other, net |
57.1 |
29.3 |
61.2 |
-74.6 |
185.9 |
|
Interest Received |
35.6 |
43.6 |
27.4 |
33.8 |
29.1 |
|
Interest Paid |
-67.8 |
-71.0 |
-69.3 |
-84.3 |
-77.5 |
|
Income taxes (paid) refund |
-111.7 |
-65.6 |
30.7 |
-132.4 |
-143.6 |
|
New Affiliate Cash |
- |
- |
- |
8.0 |
2.7 |
|
Merger |
- |
- |
- |
0.0 |
5.9 |
|
Decrease due to un-consol. of subs. |
- |
- |
- |
-3.1 |
0.0 |
|
Newly Consolidation |
- |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
460.0 |
433.2 |
394.5 |
788.4 |
802.6 |
|
|
|
|
|
|
|
|
Purc. Mark. Secs. |
- |
- |
- |
- |
0.0 |
|
Proceeds from sales of short-term invest |
1.3 |
- |
- |
- |
- |
|
Sale of Mark. Secs. |
- |
0.0 |
0.0 |
0.0 |
45.8 |
|
Inv. Sec Bought |
-260.7 |
-49.4 |
-160.0 |
-36.5 |
-53.1 |
|
Sale of Invst. Secs. |
108.8 |
52.9 |
186.2 |
8.6 |
87.0 |
|
Sale subsidiaries' securities |
- |
- |
- |
0.0 |
-29.7 |
|
Purchase of property, plant and equipmen |
-388.0 |
-269.4 |
-300.0 |
-389.4 |
-375.8 |
|
Acq. Intangible |
-28.7 |
-24.6 |
-20.9 |
-21.4 |
-20.2 |
|
Sale of Fixed Assets |
166.1 |
25.7 |
24.8 |
8.6 |
20.1 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Decrease (increase) in short-term loans |
142.8 |
14.4 |
0.0 |
- |
- |
|
Other, net |
1.9 |
0.9 |
-0.3 |
-80.2 |
-130.0 |
|
Cash from Investing Activities |
-256.5 |
-249.5 |
-270.2 |
-510.2 |
-455.9 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-15.6 |
66.5 |
-227.5 |
99.5 |
-61.2 |
|
Comm. Paper Net |
- |
0.0 |
-64.6 |
-49.8 |
-26.2 |
|
Proceeds from long-term loans payable |
319.9 |
312.4 |
428.3 |
397.9 |
467.4 |
|
Repayment of long-term loans payable |
-360.9 |
-316.4 |
-341.8 |
-516.5 |
-388.0 |
|
Inc. Iss. Corp. Bond |
130.1 |
119.0 |
24.4 |
64.2 |
55.1 |
|
Redemp. Corp. Bond |
-306.8 |
-372.0 |
-29.1 |
-77.1 |
-311.0 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Proceeds from stock issuance to minority |
14.3 |
- |
- |
- |
- |
|
Stock issued to min. shareholders |
- |
0.0 |
- |
0.0 |
0.6 |
|
Treasury stock purchased |
0.0 |
0.0 |
0.0 |
-1.2 |
-44.5 |
|
Dividend Paid |
-49.2 |
-41.2 |
-37.8 |
-48.7 |
-43.0 |
|
Issuance of Stock |
- |
2.2 |
0.4 |
0.0 |
0.2 |
|
Dividends paid to minority shareholders |
-14.9 |
-11.1 |
-6.6 |
-14.9 |
-13.5 |
|
Proceed from sale and lease back |
- |
26.8 |
0.0 |
- |
- |
|
Other, net |
-6.1 |
0.2 |
0.6 |
1.6 |
0.2 |
|
Cash from Financing Activities |
-289.3 |
-213.7 |
-253.7 |
-144.8 |
-363.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-10.0 |
-14.0 |
3.4 |
-37.6 |
-0.7 |
|
Net Change in Cash |
-95.8 |
-44.1 |
-126.0 |
95.8 |
-17.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
476.8 |
483.4 |
565.1 |
436.2 |
401.2 |
|
Net Cash - Ending Balance |
381.0 |
439.3 |
439.1 |
532.0 |
383.4 |
|
Cash Interest Paid |
67.8 |
71.0 |
69.3 |
84.3 |
77.5 |
|
Cash Taxes Paid |
111.7 |
65.6 |
-30.7 |
132.4 |
143.6 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.72 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.70.17 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.