MIRA
INFORM REPORT
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Report Date : |
23.10.2012 |
IDENTIFICATION DETAILS
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Name : |
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Formerly Known As : |
Nittetsu Shoji Co Ltd |
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Registered Office : |
Shin-Otemachi Bldg., 2-2-1, Ote-machi, Chiyoda-ku, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
02.08.1977 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
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No. of Employees : |
2,231 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
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 (31.03.2012) |
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.
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Source : CIA |
Company name & address
Nippon Steel Trading Co., Ltd.
Shin-Otemachi Bldg., 2-2-1,
Ote-machi, Chiyoda-ku
Tokyo, 100-0004
Japan
Tel: 81-36-2253500
Fax: 81-36-2253930
Web: www.ns-net.co.jp
Synthesis
Employees: 2,231
Company Type: Public Subsidiary
Corporate Family: 235
Companies
Ultimate Parent: Nippon
Steel & Sumitomo Metal Corp
Traded: Tokyo
Stock Exchange: 9810
Incorporation Date:
02-Aug-1977
Auditor: KPMG AZSA LLC
Financials in: USD
(Millions)
Fiscal Year End: 31-Mar-2012
Reporting Currency: Japanese
Yen
Annual Sales: 13,772.7 1
Net Income: 87.1
Total Assets: 4,046.3 2
Market Value: 318.3
(05-Oct-2012)
Business Description
NIPPON STEEL TRADING CO., LTD. is a company mainly engaged in the sale of raw steel materials, materials, non-ferrous metal products and machinery. The Company operates in three business segments. The Steel Stock segment sells steel products, including H-section steel, reinforcing steel bars, thick and medium steel sheets, hot-rolled thin sheets, cold-rolled thin sheets, surface-treated steel sheets, steel pipe piles, construction materials and stainless steel. This segment is also involved in the construction works. The Raw Fuel segment sells iron ore, coal, steel scraps, semi-finished products, oil, bunker oil and stainless scraps. The Industrial Machinery and Equipment segment sells iron manufacturing machinery, civil engineering and mine-use equipment, plant equipment, telecommunications measuring equipment, cranes, machine parts, mill rolls and office automation (OA) equipment. On July 23, 2012, the Company increased stake in PT. IndoJapan Steel Center, from 30% to 80%. For the three months ended 30 June 2012, Nippon Steel Trading Co., Ltd. revenues decreased 7% to Y260.89B. Net income decreased 43% to Y1.06B. Revenues reflect Raw materials and fuels segment decrease of 38% to Y27.3B, Industrial machinery, equipment and segment decrease of 25% to Y13.55B. Net income also reflects NOP Other Non-op. Income decrease of 58% to Y96M (income), SP Loss on Val. of LT Inv't.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 3322 - Metal and
Mineral Wholesaling
NACE 2002: 5152 - Wholesale
of metals and ores
NAICS 2002: 42351 - Metal
Service Centers and Other Metal Merchant Wholesalers
UK SIC 2003: 5152 - Wholesale
of metals and ores
UK SIC 2007: 4672 - Wholesale
of metals and metal ores
US SIC 1987: 5051 - Metals
Service Centers and Offices
Key Executives
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Name |
Title |
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Tetsuo Imakubo |
President, Representative Director |
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Hiroshi Iwata |
Leader of Accounting Team in Finance Unit |
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Seiki Miyamoto |
President |
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Takashi Egi |
Co-Auditor |
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Hidehiko Matsukawa |
Executive Vice President-Sales, Information & Communication |
Significant Developments
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Topic |
#* |
Most Recent
Headline |
Date |
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Mergers & Acquisitions |
1 |
Nippon Steel Trading Co., Ltd. to Acquire
Joint Venture |
20-Jul-2012 |
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Negative Earnings Pre-Announcement |
1 |
Nippon Steel Trading Co., Ltd. Lowers FY
2012 Outlook |
28-Oct-2011 |
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Dividends |
1 |
Nippon Steel Trading Co., Ltd. Announces
Year-end Dividend Payment for FY 2012 |
26-Apr-2012 |
* number of significant developments within the last 12 months
News
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Title |
Date |
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Nakayama Steel To Lease Idle Land To
Nippon Steel |
11-Sep-2012 |
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Nippon Steel Trading 1Q Grp Net Pft Y1.06B
Vs Y1.88B Pft Yr Earlier |
31-Jul-2012 |
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Industry Brief |
20-Jul-2012 |
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Kyodo Industry Brief (July 20) -2- |
20-Jul-2012 |
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Dateline Pittsburgh for 6/24/12 |
24-Jun-2012 |
Financial Summary
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Stock Snapshot
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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
Corporate Overview
Location
Shin-Otemachi Bldg., 2-2-1,
Ote-machi, Chiyoda-ku
Tokyo, 100-0004
Japan
Tel: 81-36-2253500
Fax: 81-36-2253930
Web: www.ns-net.co.jp
Quote Symbol - Exchange
9810 - Tokyo Stock
Exchange
Sales JPY(mil): 1,087,512.0
Assets JPY(mil): 333,358.0
Employees: 2,231
Fiscal Year End: 31-Mar-2012
Industry: Miscellaneous
Capital Goods
Incorporation Date: 02-Aug-1977
Company Type: Public
Subsidiary
Quoted Status: Quoted
Previous Name: Nittetsu
Shoji Co Ltd
President, Representative Director: Tetsuo
Imakubo
Company Web Links
Corporate History/Profile
Financial Information
Home Page
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Shareholders
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3322 - Metal and Mineral Wholesaling
3321 - Petroleum Product Wholesaling
3411 - Agricultural and Construction Machinery Wholesaling
3499 - Other Machinery and Equipment Wholesaling Not Elsewhere
Classified
3419 - Other Specialised Industrial Machinery and Equipment
Wholesaling
NACE 2002 Codes:
5152 - Wholesale of metals and ores
5185 - Wholesale of other office machinery and equipment
5182 - Wholesale of mining, construction and civil engineering
machinery
5187 - Wholesale of other machinery for use in industry, trade and
navigation
5151 - Wholesale of solid, liquid and gaseous fuels and related
products
NAICS 2002 Codes:
42351 - Metal Service Centers and Other Metal Merchant Wholesalers
423420 - Office Equipment Merchant Wholesalers
423520 - Coal and Other Mineral and Ore Merchant Wholesalers
424720 - Petroleum and Petroleum Products Merchant Wholesalers
(except Bulk Stations and Terminals)
423830 - Industrial Machinery and Equipment Merchant Wholesalers
423810 - Construction and Mining (except Oil Well) Machinery and
Equipment Merchant Wholesalers
US SIC 1987:
5051 - Metals Service Centers and Offices
5084 - Industrial Machinery and Equipment
5082 - Construction and Mining (Except Petroleum) Machinery and
Equipment
5052 - Coal and Other Minerals and Ores
5172 - Petroleum and Petroleum Products Wholesalers, Except Bulk
Stations and Terminals
5044 - Office Equipment
UK SIC 2003:
5152 - Wholesale of metals and ores
5185 - Wholesale of other office machinery and equipment
5182 - Wholesale of mining, construction and civil engineering
machinery
5187 - Wholesale of other machinery for use in industry, trade and
navigation
51511 - Wholesale of petroleum and petroleum products
UK SIC 2007:
4672 - Wholesale of metals and metal ores
46711 - Wholesale of petroleum and petroleum products
4669 - Wholesale of other machinery and equipment
4663 - Wholesale of mining, construction and civil engineering
machinery
4666 - Wholesale of other office machinery and equipment
Business
Description
NIPPON STEEL
TRADING CO., LTD. is a company mainly engaged in the sale of raw steel
materials, materials, non-ferrous metal products and machinery. The Company
operates in three business segments. The Steel Stock segment sells steel
products, including H-section steel, reinforcing steel bars, thick and medium
steel sheets, hot-rolled thin sheets, cold-rolled thin sheets, surface-treated steel
sheets, steel pipe piles, construction materials and stainless steel. This
segment is also involved in the construction works. The Raw Fuel segment sells
iron ore, coal, steel scraps, semi-finished products, oil, bunker oil and
stainless scraps. The Industrial Machinery and Equipment segment sells iron
manufacturing machinery, civil engineering and mine-use equipment, plant
equipment, telecommunications measuring equipment, cranes, machine parts, mill
rolls and office automation (OA) equipment. On July 23, 2012, the Company
increased stake in PT. IndoJapan Steel Center, from 30% to 80%. For the three
months ended 30 June 2012, Nippon Steel Trading Co., Ltd. revenues decreased 7%
to Y260.89B. Net income decreased 43% to Y1.06B. Revenues reflect Raw materials
and fuels segment decrease of 38% to Y27.3B, Industrial machinery, equipment
and segment decrease of 25% to Y13.55B. Net income also reflects NOP Other
Non-op. Income decrease of 58% to Y96M (income), SP Loss on Val. of LT Inv't.
More Business Descriptions
Wholesale trade in steel products including bars, sheets and plates;
sale of fuels
Steel & Related Products Distr
Nippon Steel
Trading Co., Ltd. (NST), formerly, Nittetsu Shoji Co., Ltd. distribute steel
products, raw materials and machinery to the domestic and international market.
It operates through 22 offices in Japan and 30 overseas offices. Apart from
Japan, the company operates in Australia, Russia, China, Vietnam, the US,
Thailand, India, Mexico, Malaysia, Singapore, Korea and UAE. NST operates its
business through three divisions, namely, Steel Products, Raw Materials and
Machinery. The company's Steel Products division sells iron and steel products
such as rails, wide-flange beams, steel bars, hyper-eutectoid beams, wire
products, medium-wall and heavy-wall plates, hot- and cold-rolled coils, tin
pipes, steel pipes, stainless steel and aluminum pipes. The steel products
offered by the company also include, steel frames, deck plates, housing
fixtures, containers, welding electrodes and rods, sheet piles, road
construction materials, electromagnetic steel plates and sheets, titanium
products and other products. The company is in charge of distribution for
Nippon Steel Corporation and its group companies. For the fiscal year ended
March 2012, this segment generated a revenue of JPY866,719m an increase of 5.3%
over the 2011. NST's Raw Materials division sells raw materials to the Japanese
steel industry. The raw materials offered by the company include iron ore,
coking coal, coke steel scrap, heavy oil products, bunker oil for fuel, paints,
lubricants, LPG and various gases and non-ferrous metals. The company also
offers auxiliary materials for iron and steel production, semi-finished
products, pig iron, rerolled steel materials, ferro-alloys and anthracite and
petroleum coke. In addition, the company distributes marine fuel oil and
steaming coal and also supplies steaming coal and export blast furnace slag.
The company sources coal from Australia, the US, China Vietnam, Russia and New
Zealand. Further, the company has stakes in multiple coal mines in Australia.
The company has a joint manufacturing company that provides melt-down stainless
steel scrap to Nippon Steel and Sumikin Stainless Steel Corporation’s Hikari
Works. For the fiscal year ended March 2012, this segment generated a revenue
of JPY156,403m an decrease of 20.2% over the 2011. The company, through
Machinery division, supplies steel making machinery, machine tools, metal
processing machinery, chemical machinery, transport and distribution machinery,
chemical industry products, firebricks, construction machinery, electronics and
data communication and measuring instruments. The division also provides
processed wooden products, energy-related equipment, machinery for ships,
various industrial robots, machinery parts, rolls, office automation equipment,
labor-and energy-saving machinery, processed metal products, iron powder,
packaging materials, wind power and hydraulic power machinery and marine steel
structures. For the fiscal year ended March 2012, this segment generated a
revenue of JPY64,389m an increase of 6.1% over the 2011.The company’s
geographical regions are categorized as Japan, Asia and other countries. For
the year ended March 2011 the company generated revenue of JPY747,134m from
Japan, JPY 255,494m from Asia and JPY76,879m from other countries.. The company
main subsidiaries include Nippon Steel Trading (H.K.) Co., Ltd., Nippon Steel
Trading America, Inc., Nippon Steel Trading Mexico, S.A.De.C.v., NSE Limited,
NS Hanoi Steel Service Co., Ltd., Aiko Co., Ltd and Ichikawa seisen Co., Ltd.
Recently, the company established a joint venture with Mitsui & Co Steel
Co., Ltd and Nippon Steel Corporation. NPL owns 32.3% stake in the joint
venture.
Nippon Steel
Trading Co., Ltd. (NST), formerly Nittetsu Shoji Co., Ltd., distribute steel
products, raw materials and machinery. The company also sells marine fuel oil
and steaming coal, and provides steaming coal and export blast-furnace slag. It
imports steel making raw materials such as iron ore from Australia and India,
and coal from Australia, China, Vietnam, Russia, New Zealand and the US. The
company has geographical presence in various countries, which includes Japan,
Thailand, Singapore, Indonesia, Australia, the US, Malaysia, Korea, Taiwan,
Mexico, China, Vietnam, the UAE, India and Russia. It has business offices in
Japan and overseas. NST is headquartered in Tokyo, Japan.The company reported
revenues of (Yen) JPY 1,087,512.00 million during the fiscal year ended March
2012, an increase of 0.74% over 2011. The operating profit of the company was
JPY 9,817.00 million during the fiscal year 2012, a decrease of 19.36% from
2011. The net profit of the company was JPY 6,877.00 million during the fiscal
year 2012, a decrease of 7.55% from 2011.
Iron and Steel Mills and Ferroalloy Manufacturing
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Strengths/Weaknesses (SWOT)
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Helpful |
Harmful |
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Internal Origin |
Strengths ·
Increasing Liquidity ·
Strong Geographical Operations ·
Wide Range of Products |
Weaknesses ·
Decreased Profitability Ratios |
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External Origin |
Opportunities ·
Growth in Developing Economies ·
Growing Demand for Steel ·
Strategic Joint Ventures |
Threats ·
Threat from Substitutes ·
Stringent Government Regulations ·
Increasing Raw Material Costs |
Overview
Nippon Steel
Trading Co., Ltd. (NST) offers a comprehensive range of steel products, raw materials,
and machinery. The company has consolidated operations in the US, Southeast
Asia, China, Middle East and India. The company’s wide range of products
coupled with its operations spread across various regions enhances its
operations. However, the declined profitability could be a concern. While, the
strategic joint ventures and growing demand for steel could provide growth
opportunities for the company. Whereas, the increasing raw material costs and
stringent regulatory obligations might affect the business.
Strengths
Increasing Liquidity
The company's
liquidity ratio increased due to the decrease in current liabilities. Its total
current liabilities decreased to JPY 251,439m in 2012, an decrease of 1% as
compared to JPY253,974m in 2011. This led to increased liquidity across its
various liquidity indicators including current ratio, quick ratio, and cash
ratio in 2012. The company's current ratio, quick ratio and cash ratio
increased in 2010, 2011 and 2012. Its 2012 ratios stood at 1.15, 1.04 and 0.08
times as compared to 1.15, 1.03 and 0.08 in 2011 and 1.13, 1.03 and 0.07 in
2010. Increased liquidity ratios indicate that the company is in a strong
financial position and is capable of meeting its short-term obligations to
conduct day-to-day business.
Strong Geographical Operations
NST has worldwide
operations. The company has expanded steel distribution both in Japan and
overseas. It has consolidated operations in the US, Southeast Asia, China, the
Middle East and India. The company also holds coil centers in China, Thailand
and Vietnam. In addition, the company has also secured stable and diverse
supply sources of fuel and raw materials worldwide, including iron ore from
Australia and India, and coal from Australia, the US, Russia, China, Vietnam and
New Zealand. The company's energy projects and overseas machinery business are
engaged in exporting Japanese machinery to emerging markets of Russia, China
and India. Geographically, the company generates its revenue from Japan; Asia,
which includes China, South Korea, Thailand, Taiwan, Vietnam, Indonesia,
Malaysia; and other regions include US, Mexico, Russia, Australia. For the
fiscal year 2012, NST generated 69.3% of revenue from Japan, 23.5% from Asia
and 7.2% from others. Wide geographic presence decreases the business risks of
the company.
Wide Range of Products
The company offers
comprehensive range of steel products, raw materials, and machinery. Various
steel products offered by the company include, hyper-eutectoid beams, steel
bars, steel pipes, stainless steel, cold-rolled coils, road construction
materials, special steel, steel frames, electromagnetic steel plates and
sheets, wire products, metal processing products, sheet piles, titanium
products and containers. NST supplies raw materials to the Japanese steel
industry from all over the world, including iron ore, coking coal, steel scrap,
coke, heavy oil, lubricants, LPG, pig iron, petroleum coke and steaming coal.
The company also provides various machinery products including, steel-making machinery,
metal processing machinery, construction machinery, chemical machinery,
transport and distribution machinery and marine steel structures. In 2012, the
company generated 79.7% of revenue from steel division followed by 14.4% from
Raw Materials and 5.9% from Machinery & Materials and Energy Projects.
Sustained focus on a comprehensive range of products provides the company a
strong position in the market.
Weaknesses
Decreased Profitability Ratios
Decreasing
profitability ratios indicates the company’s deteriorating performance and
its inability to deliver the returns expected by its shareholders. The company
reported an operating profit of JPY9,817m during the fiscal year 2012, a
decrease of 19.34% over 2011. The decrease in operating profit resulted in the
decreased net profit levels. It reported net profit of JPY6,877m during the
fiscal year 2012, a decrease of 7.55% over 2011. The decreased top, operating
and bottom line levels resulted in decreased profitability ratios. The company
reported PBT (profit before tax) margin of 1.06% in 2012, as compared to 1.13%
in 2011, followed by return on equity 13.96% (15.44%), return on capital
employed 11.98% (15.52%), return on assets 2.06% (2.23%) and return on fixed
assets 23.34% (31.21%).
Opportunities
Growth in Developing Economies
The company with
its operation in the emerging markets can strive to record high growth.
Emerging markets withstood the global credit crunch better than their developed
world counterparts, and will grow more quickly in 2011. According to the World
Bank’s latest report, Global Economic Prospects 2011, developing countries
are estimated to grow by 7% in 2010, 6% in 2011 and 6.1% in 2012. They will
continue to outstrip growth in high-income countries, which is projected at 2.8%
in 2010, 2.4% in 2011 and 2.7% in 2012. In most developing countries, GDP has
regained levels that would have prevailed, had there been no boom-bust cycle.
While steady growth is projected through 2012, the recovery in several
economies in emerging Europe and Central Asia and in some high-income countries
is tentative.
Growing Demand for Steel
The increasing
demand for steel and steel products will enable the company to record strong
growth. The growth in steel demand will be driven due to high demand forecast
in developing economies. According to the World Steel Association (WSA) report,
in 2012, global demand for steel is expected to grow at around 5.4% to around
1,500 million tons due to higher consumption in developing nations. According
to WSA, in Europe, the demand for steel is forecast to grow by around 2.5%,
over the last year demand. In the Commonwealth of Independent States (CIS) and
countries signatory to North American Free Trade Agreement, the demand for
steel is expected to grow by 5.7% and 4.9% in the current year, respectively.
Central & North American and African countries are expected to record a
growth rate of around 9.8% and 11% in 2012, respectively. In the Middle East
and Asia & Oceania, the demand for steel is expected to be around 7.9% and
5.4%, respectively. India’s steel consumption in 2011 was around 68 million
tons in 2011, and became the third-highest steel consuming country after China
and the US. In 2012, the growth is expected to be around 7.9%. According to
WSA, the demand for steel in China is expected to be around 6% in 2012 to
around 682 million tons.
Strategic Joint Ventures
In 2012, the
company increased its stake in joint venture PT. IndoJapan Steel Center, from
30% to 80%, through acquiring shares from Adyawinsa and Dwijaya. The PT.
IndoJapan Steel Center operates as a subsidiary of NST. In 2011, NST has
entered into joint venture with Sanyu Co., Ltd, Matsubishi Metal Industry Co.,
Ltd, Miyazaki Seiko Co. Ltd, Toyata Tsusho Corporation, Nippon Steel
Corporation and Metal one Corporation to jointly establish a new plant in China
and is expected to start its operations in March 2013. The total investment
stood at JPY2,750m. Further, the new plant is expected to produce 42,000 ton of
steel every year. Further, the company entered into a joint venture with Mitsui
& Co Steel Co., Ltd and Nippon Steel Corporation to integrate the
operations of three subsidiaries. NSL holds 61% stake in the joint venture, 23%
owned by Mitsui and 14% by Nippon . These joint ventures will enhance the
company's production and thereby business.
Threats
Threat from Substitutes
Growing usage of
steel substitutes could impact the growth of the company. The steel industry,
which had been enjoying monopoly in many applications across diverse markets,
is facing threat from various evolving substitutes. Steel competes with
materials such as aluminum, plastic, wood, cement, composites and glass.
Aluminum has been finding increased usage in industries such as automobile,
which has been striving hard to reduce the weight of the vehicles and improve
fuel efficiency. An aluminum structured vehicle can enjoy up to 50% less weight
compared to its steel counterpart. Further, the government’s regulatory
initiatives for the mandatory usage of steel substitutes, either for
environmental reasons as well as the development of substitute market, have
forced industries to look out for new substitutes. Thus, the growing use of
steel substitutes could reduce the demand for steel products, thereby affecting
the market prices and in turn the company’s cash flow and profitability.
Stringent Government Regulations
The operations of
the company are subject to various government regulations including regulations
pertaining to environmental protection. These laws and regulations impose
higher environmental protection standards pertaining to air emissions, the use
and handling of hazardous or toxic materials, wastewater storage, treatment and
discharges, waste disposal practices, as well as the remediation of
environmental contamination. Complying with these regulations adds up new costs
to the company, which affects its operational performance. If the company fails
to comply with these regulations, it may be burdened with hefty fines and
penalties, which could have a material impact on the profitability of the
company. The company may also be denied permission for new projects, which
might hamper its business prospects. The company’s facilities are certified
by ISO14001 international standard for environmental management systems.
Increasing Raw Material Costs
The volatile raw
material prices could have a material impact on the operational costs of the
company. The primary raw materials used in the steel production include Iron
Ore and coking coal. In the recent past the raw material prices used for steel
production have seen substantial fluctuations. The higher raw material costs
increases the production costs for companies, which forces them to either raise
the prices of its products by placing the burden on the consumer, or to take
the burden themselves by absorbing the higher costs and decreasing profit
margins. Further, the production plants and its machines are powered by oil and
natural gas, whose price is also volatile in nature. Thus, the price
fluctuations may have a material impact on the product cost and further the
operations of the company.
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Corporate Family |
Corporate
Structure News: |
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Nippon
Steel & Sumitomo Metal Corp |
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Nippon Steel Trading Co., Ltd. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Nippon Steel & Sumitomo Metal Corp |
Parent |
Tokyo |
Japan |
Construction - Supplies and Fixtures |
51,809.4 |
60,508 |
|
Sumitomo Metal Industries Ltd |
Subsidiary |
Osaka |
Japan |
Construction - Supplies and Fixtures |
18,659.4 |
23,007 |
|
Sumitomo Metal Industries, Ltd. |
Branch |
Tokyo |
Japan |
Iron and Steel |
19,198.0 |
23,007 |
|
Narumi Seito Kabushiki Kaisha |
Subsidiary |
Nagoya, Midori Ku |
Japan |
Construction - Supplies and Fixtures |
92.2 |
1,000 |
|
Joint Venture |
Fostoria, OH |
United States |
Miscellaneous Capital Goods |
|
200 |
|
|
Subsidiary |
Sydney, NSW |
Australia |
Iron and Steel |
12.6 |
5 |
|
|
Subsidiary |
Houston, TX |
United States |
Business Services |
1.7 |
3 |
|
|
Subsidiary |
Elk Grove Village, IL |
United States |
Business Services |
|
|
|
|
Subsidiary |
Osaka |
Japan |
Water Transportation |
892.5 |
1,567 |
|
|
Subsidiary |
Tokyo |
Japan |
Construction - Supplies and Fixtures |
718.3 |
1,069 |
|
|
Subsidiary |
Itano-Gun, Tokushima |
Japan |
Construction - Supplies and Fixtures |
46.2 |
|
|
|
Subsidiary |
Kashiwara, Osaka |
Japan |
Miscellaneous Capital Goods |
146.4 |
300 |
|
|
Subsidiary |
Kashima, Ibaraki |
Japan |
Construction Services |
19.5 |
111 |
|
|
Subsidiary |
Kamisu, Ibaraki |
Japan |
Construction - Supplies and Fixtures |
103.0 |
105 |
|
|
Subsidiary |
Ha Noi |
Viet Nam |
Construction - Supplies and Fixtures |
30.3 |
100 |
|
|
Branch |
Singapore |
Singapore |
Miscellaneous Fabricated Products |
1.0 |
100 |
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Consumer Financial Services |
30.1 |
4 |
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Water Transportation |
897.5 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Water Transportation |
60.0 |
|
|
|
Subsidiary |
Kashima, Ibaraki |
Japan |
Trucking |
23.5 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Water Transportation |
19.1 |
|
|
|
Subsidiary |
Kashima, Ibaraki |
Japan |
Construction Services |
780.9 |
|
|
|
Subsidiary |
Sakai, Osaka |
Japan |
Construction - Supplies and Fixtures |
323.2 |
|
|
|
Subsidiary |
Wakayama, Wakayama |
Japan |
Iron and Steel |
310.8 |
|
|
|
Subsidiary |
Sakai, Osaka |
Japan |
Construction Services |
262.0 |
|
|
|
Subsidiary |
Mine, Yamaguchi |
Japan |
Electronic Instruments and Controls |
235.2 |
|
|
|
Subsidiary |
Bayan Lepas, Pulau Pinang |
Malaysia |
Miscellaneous Fabricated Products |
52.9 |
1,800 |
|
|
Subsidiary |
Kashima, Ibaraki |
Japan |
Construction - Raw Materials |
233.7 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Miscellaneous Capital Goods |
220.5 |
|
|
|
Subsidiary |
Amagasaki, Hyogo |
Japan |
Biotechnology and Drugs |
196.7 |
|
|
|
Subsidiary |
Koga, Ibaraki |
Japan |
Construction - Supplies and Fixtures |
158.4 |
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Construction - Supplies and Fixtures |
136.7 |
|
|
|
Subsidiary |
Handa, Aichi |
Japan |
Iron and Steel |
115.7 |
|
|
|
Subsidiary |
Kurashiki, Okayama |
Japan |
Auto and Truck Parts |
111.9 |
|
|
|
Subsidiary |
Narita, Chiba |
Japan |
Business Services |
109.5 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Construction Services |
81.3 |
|
|
|
Subsidiary |
Amagasaki, Hyogo |
Japan |
Miscellaneous Capital Goods |
73.1 |
|
|
|
Subsidiary |
Hachinohe, Aomori |
Japan |
Construction - Raw Materials |
72.2 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Real Estate Operations |
65.4 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Security Systems and Services |
54.2 |
|
|
|
Subsidiary |
Kashima, Ibaraki |
Japan |
Recreational Activities |
52.3 |
|
|
|
Subsidiary |
Joetsu, Niigata |
Japan |
Construction - Supplies and Fixtures |
46.2 |
|
|
|
Subsidiary |
Wakayama, Wakayama |
Japan |
Iron and Steel |
38.7 |
|
|
|
Subsidiary |
Sakai, Osaka |
Japan |
Miscellaneous Fabricated Products |
37.7 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Business Services |
35.7 |
|
|
|
Subsidiary |
Wakayama, Wakayama |
Japan |
Construction Services |
26.8 |
|
|
|
Subsidiary |
A Muang, Chon Buri |
Thailand |
Construction Services |
|
|
|
|
Branch |
Shanghai, Shanghai |
China |
Construction Services |
|
|
|
|
Branch |
Pathumwan, Bangkok |
Thailand |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Computer Services |
2,046.3 |
4,972 |
|
|
Subsidiary |
Tokyo |
Japan |
Software and Programming |
134.0 |
393 |
|
|
Subsidiary |
Kansai |
Japan |
Software and Programming |
51.0 |
273 |
|
|
Subsidiary |
Oita, Oita |
Japan |
Software and Programming |
38.8 |
168 |
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Business Services |
200.9 |
|
|
|
Subsidiary |
Fukuoka, Fukuoka |
Japan |
Audio and Video Equipment |
75.2 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Software and Programming |
56.2 |
|
|
|
Subsidiary |
Muroran, Hokkaido |
Japan |
Software and Programming |
43.7 |
|
|
|
Subsidiary |
Nagoya, Aichi |
Japan |
Software and Programming |
31.4 |
|
|
|
Subsidiary |
Sendai, Miyagi |
Japan |
Software and Programming |
23.4 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Software and Programming |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Iron and Steel |
2,974.6 |
3,600 |
|
|
Nippon
Steel Engineering Co., Ltd. - Building Construction & Steel Structures
Division |
Division |
Tokyo |
Japan |
Construction Services |
|
500 |
|
Subsidiary |
Samut Prakan |
Thailand |
Construction Services |
|
|
|
|
Nippon
Steel Engineering Co., Ltd. - Plant & Machinery Division |
Division |
Tokyo |
Japan |
Iron and Steel |
|
|
|
Nippon
Steel Engineering Co., Ltd. - Environmental Solution Division |
Division |
Tokyo |
Japan |
Business Services |
|
|
|
Nippon
Steel Engineering Co., Ltd. - Civil Engineering & Marine Construction
Division |
Division |
Tokyo |
Japan |
Construction Services |
|
|
|
Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
13,772.7 |
2,231 |
|
|
Subsidiary |
Shenzhen, Guangdong |
China |
Miscellaneous Capital Goods |
|
148 |
|
|
Subsidiary |
Himeji, Hyogo |
Japan |
Business Services |
77.3 |
100 |
|
|
Subsidiary |
Yatomi, Aichi |
Japan |
Miscellaneous Capital Goods |
30.5 |
96 |
|
|
Subsidiary |
Tokyo |
Japan |
Iron and Steel |
250.0 |
80 |
|
|
Subsidiary |
Thuan An, Binh Duong |
Viet Nam |
Miscellaneous Capital Goods |
|
40 |
|
|
Subsidiary |
Yatomi, Aichi |
Japan |
Miscellaneous Capital Goods |
44.6 |
30 |
|
|
Subsidiary |
Chita, Aichi |
Japan |
Iron and Steel |
|
30 |
|
|
Subsidiary |
Taipei |
Taiwan |
Miscellaneous Capital Goods |
1.0 |
20 |
|
|
Subsidiary |
Los Angeles, CA |
United States |
Miscellaneous Capital Goods |
|
10 |
|
|
Subsidiary |
Jakarta |
Indonesia |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
|
7 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
|
6 |
|
|
Subsidiary |
Mexico |
Mexico |
Miscellaneous Capital Goods |
|
5 |
|
|
Subsidiary |
Kuala Lumpur |
Malaysia |
Miscellaneous Capital Goods |
|
2 |
|
|
Subsidiary |
Daito, Osaka |
Japan |
Miscellaneous Capital Goods |
191.2 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Miscellaneous Capital Goods |
119.8 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Construction - Supplies and Fixtures |
95.9 |
|
|
|
Subsidiary |
Causeway Bay |
Hong Kong |
Miscellaneous Capital Goods |
1.0 |
|
|
|
Subsidiary |
Shanghai |
China |
Construction - Supplies and Fixtures |
1.0 |
|
|
|
Branch |
Chiyoda-Ku, Tokyo |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Hoan Kiem District, Hanoi |
Viet Nam |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Dongguan, Guangdong |
China |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Suzhou |
China |
Iron and Steel |
|
|
|
|
Subsidiary |
Shanghai |
China |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Ho Chi Minh City |
Viet Nam |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Iron and Steel |
|
|
|
|
Subsidiary |
Bac Ninh |
Viet Nam |
Iron and Steel |
|
|
|
|
Subsidiary |
Bangkok |
Thailand |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Iron and Steel |
|
1,500 |
|
|
Nippon
Steel & Sumikin Stainless Steel Corporation - Hikari Works |
Unit |
Hikari, Yamaguchi |
Japan |
Iron and Steel |
|
|
|
Nippon
Steel & Sumikin Stainless Steel Corporation - Kashima Works |
Unit |
Kashima, Ibaraki |
Japan |
Construction - Supplies and Fixtures |
|
|
|
Nippon
Steel & Sumikin Stainless Steel Corporation - Yawata Works |
Unit |
Kitakyushu, Fukuoka |
Japan |
Construction - Supplies and Fixtures |
|
|
|
Subsidiary |
Tokyo |
Japan |
Construction - Supplies and Fixtures |
690.8 |
1,455 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Construction - Supplies and Fixtures |
97.0 |
|
|
|
Subsidiary |
Kumage-Gun, Yamaguchi |
Japan |
Metal Mining |
55.7 |
55 |
|
|
Subsidiary |
Narashino, Chiba |
Japan |
Construction - Supplies and Fixtures |
19.2 |
|
|
|
Subsidiary |
Kitakyushu |
Japan |
Water Transportation |
327.5 |
1,414 |
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Miscellaneous Transportation |
40.9 |
|
|
|
Subsidiary |
Shimonoseki, Yamaguchi |
Japan |
Trucking |
24.8 |
|
|
|
Unit |
Himeji, Hyogo |
Japan |
Construction - Supplies and Fixtures |
|
1,293 |
|
|
Unit |
Tokai, Aichi |
Japan |
Construction - Supplies and Fixtures |
1,122.0 |
968 |
|
|
Subsidiary |
Tokyo |
Japan |
Chemical Manufacturing |
2,102.2 |
801 |
|
|
Joint Venture |
Tokyo |
Japan |
Chemical Manufacturing |
|
130 |
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Chemical Manufacturing |
118.4 |
40 |
|
|
Subsidiary |
Kowloon |
Hong Kong |
Fabricated Plastic and Rubber |
|
3 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Chemical Manufacturing |
13.0 |
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Osaka-Shi |
Japan |
Iron and Steel |
904.7 |
697 |
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Miscellaneous Capital Goods |
399.6 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Real Estate Operations |
930.7 |
565 |
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Real Estate Operations |
99.7 |
|
|
|
Subsidiary |
New Carlisle, IN |
United States |
Miscellaneous Fabricated Products |
138.0 |
500 |
|
|
Subsidiary |
Kawasaki |
Japan |
Miscellaneous Fabricated Products |
38.7 |
425 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Iron and Steel |
735.3 |
391 |
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Iron and Steel |
314.9 |
300 |
|
|
Subsidiary |
Tokai, Aichi |
Japan |
Security Systems and Services |
19.3 |
260 |
|
|
Subsidiary |
Muroran, Hokkaido |
Japan |
Iron and Steel |
1,482.7 |
250 |
|
|
Subsidiary |
New Carlisle, IN |
United States |
Miscellaneous Fabricated Products |
|
250 |
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Business Services |
24.4 |
200 |
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Fabricated Products |
178.7 |
199 |
|
|
Facility |
Ichihara, Chiba |
Japan |
Iron and Steel |
|
|
|
|
Facility |
Sagamihara, Kanagawa |
Japan |
Iron and Steel |
|
|
|
|
Facility |
Izumiotsu, Osaka |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Kurashiki, Okayama |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Chiba |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Real Estate Operations |
|
|
|
|
Facility |
Tokai, Aichi |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Iron and Steel |
103.8 |
191 |
|
|
Subsidiary |
Oita, Oita |
Japan |
Security Systems and Services |
18.5 |
140 |
|
|
Subsidiary |
SĂ£o Paulo, SP |
Brazil |
Iron and Steel |
91.0 |
100 |
|
|
Subsidiary |
Tokyo |
Japan |
Iron and Steel |
|
100 |
|
|
Subsidiary |
Santo Tomas, Batangas |
Philippines |
Semiconductors |
|
300 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Construction Services |
284.1 |
90 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Business Services |
16.7 |
|
|
|
Subsidiary |
Prai, Penang |
Malaysia |
Chemical Manufacturing |
10.5 |
80 |
|
|
Subsidiary |
Oita, Oita |
Japan |
Engineering Consultants |
7.8 |
67 |
|
|
Subsidiary |
Tokyo |
Japan |
Iron and Steel |
|
50 |
|
|
Subsidiary |
Tokai, Aichi |
Japan |
Electric Utilities |
113.0 |
47 |
|
|
Subsidiary |
Tokyo |
Japan |
Construction - Supplies and Fixtures |
439.8 |
26 |
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Miscellaneous Capital Goods |
85.5 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Iron and Steel |
227.0 |
21 |
|
|
Subsidiary |
Oita, Oita |
Japan |
Miscellaneous Fabricated Products |
37.0 |
19 |
|
|
Subsidiary |
New York, NY |
United States |
Investment Services |
|
11 |
|
|
Branch |
Chicago, IL |
United States |
Business Services |
13.7 |
13 |
|
|
Subsidiary |
New York, NY |
United States |
Miscellaneous Financial Services |
|
13 |
|
|
Subsidiary |
New York, NY |
United States |
Investment Services |
|
13 |
|
|
Subsidiary |
New York, NY |
United States |
Miscellaneous Financial Services |
|
12 |
|
|
Subsidiary |
DĂ¼sseldorf, Nordrhein-Westfalen |
Germany |
Miscellaneous Fabricated Products |
|
10 |
|
|
Subsidiary |
Dusseldorf |
Germany |
Iron and Steel |
|
10 |
|
|
Subsidiary |
Bangna, Bangkok |
Thailand |
Miscellaneous Fabricated Products |
|
9 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Miscellaneous Financial Services |
30.3 |
8 |
|
|
Subsidiary |
Sydney, NSW |
Australia |
Iron and Steel |
658.1 |
6 |
|
|
Subsidiary |
Nagoya, Aichi |
Japan |
Iron and Steel |
1.0 |
3 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Iron and Steel |
2,840.3 |
|
|
|
Subsidiary |
Joetsu, Niigata |
Japan |
Construction - Supplies and Fixtures |
35.4 |
|
|
|
Subsidiary |
Shinagawa-Ku, Tokyo |
Japan |
Miscellaneous Capital Goods |
2,068.5 |
|
|
|
Subsidiary |
Batam, Riau |
Indonesia |
Furniture and Fixtures |
43,000.0 |
1,400 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
|
100 |
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Business Services |
193.8 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Construction - Supplies and Fixtures |
128.9 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Engineering Consultants |
59.0 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Iron and Steel |
963.2 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Construction - Supplies and Fixtures |
57.4 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Construction - Supplies and Fixtures |
51.9 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Construction - Supplies and Fixtures |
44.0 |
|
|
|
Subsidiary |
Fujinomiya, Shizuoka |
Japan |
Construction - Supplies and Fixtures |
30.6 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Iron and Steel |
900.0 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Construction Services |
808.3 |
|
|
|
Subsidiary |
Bunkyo-Ku, Tokyo |
Japan |
Software and Programming |
27.7 |
115 |
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Iron and Steel |
724.3 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Trucking |
652.5 |
|
|
|
Subsidiary |
Kimitsu, Chiba |
Japan |
Trucking |
312.4 |
|
|
|
Subsidiary |
Tokai, Aichi |
Japan |
Trucking |
176.5 |
|
|
|
Subsidiary |
Oita, Oita |
Japan |
Business Services |
110.7 |
|
|
|
Subsidiary |
Himeji, Hyogo |
Japan |
Trucking |
83.9 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Miscellaneous Transportation |
61.8 |
|
|
|
Subsidiary |
Himeji, Hyogo |
Japan |
Business Services |
43.2 |
|
|
|
Subsidiary |
Kamaishi, Iwate |
Japan |
Trucking |
41.1 |
|
|
|
Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Trucking |
13.3 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Water Transportation |
446.8 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Miscellaneous Fabricated Products |
312.2 |
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Miscellaneous Capital Goods |
87.1 |
|
|
|
Subsidiary |
Hamura, Tokyo |
Japan |
Construction - Supplies and Fixtures |
310.8 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Engineering Consultants |
260.4 |
|
|
|
Subsidiary |
Ama, Aichi |
Japan |
Business Services |
165.6 |
|
|
|
Subsidiary |
Seki, Gifu |
Japan |
Construction - Supplies and Fixtures |
159.9 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Construction Services |
132.1 |
|
|
|
Subsidiary |
Kawasaki, Kanagawa |
Japan |
Computer Services |
116.9 |
|
|
|
Subsidiary |
Oita, Oita |
Japan |
Engineering Consultants |
32.9 |
307 |
|
|
Subsidiary |
Himeji, Hyogo |
Japan |
Engineering Consultants |
33.5 |
261 |
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Engineering Consultants |
31.0 |
|
|
|
Subsidiary |
Muroran, Hokkaido |
Japan |
Engineering Consultants |
29.9 |
|
|
|
Subsidiary |
Muroran, Hokkaido |
Japan |
Electronic Instruments and Controls |
109.3 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Construction - Raw Materials |
88.9 |
|
|
|
Subsidiary |
Muroran, Hokkaido |
Japan |
Iron and Steel |
84.3 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Miscellaneous Fabricated Products |
81.4 |
|
|
|
Subsidiary |
Muroran, Hokkaido |
Japan |
Miscellaneous Capital Goods |
80.9 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Miscellaneous Capital Goods |
80.4 |
|
|
|
Subsidiary |
Iwaki, Fukushima |
Japan |
Construction - Supplies and Fixtures |
79.5 |
|
|
|
Subsidiary |
Kimitsu, Chiba |
Japan |
Construction - Raw Materials |
69.9 |
|
|
|
Subsidiary |
Koto-Ku, Tokyo |
Japan |
Iron and Steel |
66.4 |
|
|
|
Subsidiary |
Kimitsu, Chiba |
Japan |
Construction - Supplies and Fixtures |
61.0 |
|
|
|
Subsidiary |
Osaka, Osaka |
Japan |
Iron and Steel |
56.5 |
|
|
|
Subsidiary |
Tokai, Aichi |
Japan |
Construction - Raw Materials |
34.3 |
|
|
|
Subsidiary |
Kisarazu, Chiba |
Japan |
Appliance and Tool |
26.0 |
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Computer Services |
19.8 |
|
|
|
Subsidiary |
Kitakyushu, Fukuoka |
Japan |
Security Systems and Services |
12.1 |
|
|
|
Subsidiary |
Muroran, Hokkaido |
Japan |
Construction - Raw Materials |
1.0 |
|
|
|
Subsidiary |
Beijing |
China |
Iron and Steel |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Higashi-Osaka, Osaka |
Japan |
Miscellaneous Capital Goods |
145.2 |
|
|
|
Subsidiary |
Ebetsu, Hokkaido |
Japan |
Iron and Steel |
62.1 |
|
|
|
Unit |
Kamaishi, Iwate |
Japan |
Iron and Steel |
|
|
|
|
Baosteel-NSC/Arcelor
Mittal Automotive Steel Sheets Co., Ltd. |
Subsidiary |
Shanghai |
China |
Iron and Steel |
|
|
|
Subsidiary |
New Delhi |
India |
Iron and Steel |
|
|
|
|
Subsidiary |
Ho Chi Minh City |
Viet Nam |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Pluakdaeng, Rayong |
Thailand |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Bangkok |
Thailand |
Iron and Steel |
|
|
|
|
Subsidiary |
Perth, WA |
Australia |
Construction Services |
|
|
|
|
Subsidiary |
Bangkok |
Thailand |
Iron and Steel |
|
|
|
|
Unit |
Sakai, Osaka |
Japan |
Construction - Supplies and Fixtures |
|
|
|
|
Unit |
Kitakyushu, Fukuoka |
Japan |
Iron and Steel |
|
|
|
|
Unit |
Tokyo |
Japan |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Iron and Steel |
|
|
|
|
Subsidiary |
Seki, Gifu |
Japan |
Miscellaneous Fabricated Products |
|
|
|
|
Unit |
Kimitsu, Chiba |
Japan |
Construction - Supplies and Fixtures |
|
|
Competitors Report
|
Company
Name |
Location |
Employees |
Ownership |
|
HANWA CO., LTD. |
Tokyo, Japan |
2,201 |
Public |
|
Itochu Corp |
Tokyo, Japan |
70,639 |
Public |
|
JFE Shoji Trade Corporation |
Tokyo, Japan |
5,550 |
Public |
|
Kawasaki Heavy Industries,
Ltd. |
Kobe-Shi, Japan |
33,267 |
Public |
|
Kobe Steel, Ltd. |
Kobe-Shi, Japan |
35,496 |
Public |
|
Mitsui & Co. Ltd. |
Tokyo, Japan |
44,805 |
Public |
|
Nippon Light Metal Company Ltd |
Tokyo, Japan |
10,041 |
Public |
|
Nippon Steel & Sumitomo
Metal Corp |
Tokyo, Japan |
60,508 |
Public |
|
Nisshin Steel Co Ltd |
Tokyo, Japan |
6,074 |
Public |
|
Shinsho Corporation |
Osaka-Shi, Japan |
1,190 |
Public |
|
Sumikin Bussan Corporation |
Tokyo, Japan |
5,154 |
Public |
|
Sumitomo Corp |
Tokyo, Japan |
72,087 |
Public |
|
Sumitomo Metal Industries,
Ltd. |
Tokyo, Japan |
23,007 |
Public |
|
Toyota Tsusho Corp |
Tokyo, Japan |
33,845 |
Public |
Executive report
|
Board of
Directors |
|
|
|
|
||||||
|
Managing Executive Officer, Director |
Director/Board Member |
|
||||||
|
|||||||||
|
President, Representative Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Managing Executive Officer, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Senior Managing Executive Officer, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Senior Managing Executive Officer, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Managing Executive Officer, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Senior Managing Executive Officer, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Senior Managing Executive Officer, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Executives |
|
|
|
|
||||||
|
President, Representative Director |
President |
|
||||||
|
|||||||||
|
President |
President |
|
|
|||||
|
Managing Executive Officer |
Managing Director |
|
|
|||||
|
Co-Executive Officer |
Operations Executive |
|
|
|||||
|
Co-Executive Officer |
Operations Executive |
|
|
|||||
|
Co-Executive Officer |
Operations Executive |
|
|
|||||
|
Co-Executive Officer |
Operations Executive |
|
|
|||||
|
Co-Executive Officer |
Operations Executive |
|
|
|||||
|
Co-Executive Officer |
Operations Executive |
|
|
|||||
|
Co-Auditor |
Finance Executive |
|
|
|||||
|
Co-Auditor |
Finance Executive |
|
|
|||||
|
Co-Auditor |
Finance Executive |
|
|
|||||
|
Co-Auditor |
Finance Executive |
|
|
|||||
|
Senior Corporate Auditor |
Accounting Executive |
|
|
|||||
|
Auditor |
Accounting Executive |
|
|
|||||
|
Auditor |
Accounting Executive |
|
|
|||||
|
Senior Corporate Auditor |
Accounting Executive |
|
|
|||||
|
Executive Vice President-Sales, Information & Communication |
Sales Executive |
|
|
|||||
|
Executive Officer |
Other |
|
|
|||||
|
Leader of Accounting Team in Finance Unit |
Other |
|
|
|||||
|
Executive Officer |
Other |
|
|
|||||
|
Executive Officer, Manager of Nagoya Office |
Other |
|
|
|||||
|
Executive Officer, Manager of Osaka Office |
Other |
|
|
|||||
|
|||||||||
|
Executive Officer |
Other |
|
|
|||||
|
Executive Officer |
Other |
|
|
|||||
|
|||||||||
|
Executive Officer |
Other |
|
|
|||||
|
Executive Officer |
Other |
|
|
|||||
|
Executive Officer |
Other |
|
|
|||||
|
Executive Officer |
Other |
|
|
|||||
|
Executive Officer |
Other |
|
|
|||||
|
Executive Officer, Manager of Kyushu Office |
Other |
|
|
|||||
|
Executive Officer |
Other |
|
|
|||||
|
Managing Executive Officer |
Other |
|
|
|||||
Significant Developments
Nippon Steel Trading Co., Ltd. to Acquire Joint Venture Jul 20, 2012
Nippon Steel Trading Co., Ltd. announced that it has decided to increase stake in a joint venture, PT. IndoJapan Steel Center, from 30% to 80%, by acquiring shares from two companies, Adyawinsa and Dwijaya, effective July 23, 2012. After this, PT. IndoJapan Steel Center will be operating as a subsidiary of the Company.
Nippon Steel Trading Co., Ltd. Announces Year-end Dividend Payment for FY 2012 Apr 26, 2012
Nippon Steel Trading Co., Ltd. announced that it has decided to pay a JPY 4 per share(JPY 538 million in total) year-end dividend, above its latest dividend forecast of JPY 3 per share announced on January 30, 2012, to all the shareholders as a record of March 31, 2012. The dividend will be paid on June 28, 2012.
Nippon Steel Trading Co., Ltd. Lowers FY 2012 Outlook Oct 28, 2011
Nippon Steel Trading Co., Ltd. announced that it has lowered its consolidated full-year outlook for revenue from JPY 1,210,000 million to JPY 1,180,000 million, operating profit from JPY 13,000 million to JPY 12,000 million, ordinary profit from JPY 13,000 million to JPY 12,000 million, net profit from JPY 8,000 million to JPY 7,500 million and earning per share from JPY 59.05 to JPY 55.33 for the fiscal year ending March 31, 2012. This is due to the decreased export of steel material to Thailand.
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
Revenue |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
Total Revenue |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
13,195.4 |
12,041.2 |
9,463.1 |
12,644.4 |
11,369.4 |
|
Cost of Revenue, Total |
13,195.4 |
12,041.2 |
9,463.1 |
12,644.4 |
11,369.4 |
|
Gross Profit |
577.3 |
556.4 |
432.3 |
500.1 |
430.9 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
288.8 |
275.9 |
218.1 |
231.1 |
193.9 |
|
Labor & Related Expense |
139.5 |
122.4 |
110.3 |
117.9 |
94.8 |
|
Total Selling/General/Administrative Expenses |
428.3 |
398.3 |
328.4 |
349.0 |
288.7 |
|
Depreciation |
12.5 |
11.6 |
11.6 |
8.3 |
6.6 |
|
Amortization of Acquisition Costs |
0.5 |
0.6 |
0.5 |
0.5 |
0.7 |
|
Depreciation/Amortization |
13.0 |
12.2 |
12.1 |
8.8 |
7.3 |
|
Impairment-Assets Held for Use |
1.0 |
0.3 |
0.8 |
0.5 |
1.5 |
|
Impairment-Assets Held for Sale |
2.8 |
0.5 |
0.2 |
5.4 |
0.9 |
|
Other Unusual Expense (Income) |
7.9 |
2.9 |
-1.7 |
1.9 |
-0.4 |
|
Unusual Expense (Income) |
11.7 |
3.8 |
-0.7 |
7.7 |
2.0 |
|
Other, Net |
- |
- |
- |
0.0 |
0.0 |
|
Other Operating Expenses, Total |
- |
- |
- |
0.0 |
0.0 |
|
Total Operating Expense |
13,648.4 |
12,455.6 |
9,802.9 |
13,009.8 |
11,667.4 |
|
|
|
|
|
|
|
|
Operating Income |
124.3 |
142.1 |
92.5 |
134.6 |
132.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-15.0 |
-13.6 |
-15.3 |
-19.8 |
-17.8 |
|
Interest Expense, Net Non-Operating |
-15.0 |
-13.6 |
-15.3 |
-19.8 |
-17.8 |
|
Interest Income -
Non-Operating |
4.2 |
4.5 |
4.5 |
4.7 |
3.6 |
|
Investment Income -
Non-Operating |
8.7 |
9.7 |
-5.9 |
5.2 |
14.0 |
|
Interest/Investment Income - Non-Operating |
12.9 |
14.1 |
-1.4 |
9.9 |
17.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
-2.1 |
0.5 |
-16.8 |
-9.9 |
-0.2 |
|
Gain (Loss) on Sale of Assets |
16.7 |
-6.2 |
-0.8 |
-1.1 |
-1.0 |
|
Other Non-Operating Income (Expense) |
7.9 |
2.6 |
6.9 |
-3.0 |
0.1 |
|
Other, Net |
7.9 |
2.6 |
6.9 |
-3.0 |
0.1 |
|
Income Before Tax |
146.8 |
138.9 |
81.8 |
120.5 |
131.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
54.5 |
49.6 |
25.5 |
44.8 |
54.1 |
|
Income After Tax |
92.3 |
89.3 |
56.3 |
75.7 |
77.5 |
|
|
|
|
|
|
|
|
Minority Interest |
-5.2 |
-2.5 |
0.2 |
-1.8 |
-6.3 |
|
Net Income Before Extraord Items |
87.1 |
86.8 |
56.5 |
73.9 |
71.2 |
|
Net Income |
87.1 |
86.8 |
56.5 |
73.9 |
71.2 |
|
|
|
|
|
|
|
|
Preferred Dividends |
-0.7 |
-1.4 |
-1.7 |
-2.1 |
-2.5 |
|
Miscellaneous Earnings Adjustment |
0.0 |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Total Adjustments to Net Income |
-0.7 |
-1.4 |
-1.8 |
-2.2 |
-2.5 |
|
Income Available to Common Excl Extraord Items |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Basic EPS Excl Extraord Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Basic/Primary EPS Incl Extraord Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
Diluted Weighted Average Shares |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Diluted EPS Excl Extraord Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Diluted EPS Incl Extraord Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Dividends per Share - Common Stock Primary Issue |
0.09 |
0.08 |
0.05 |
0.06 |
0.06 |
|
Gross Dividends - Common Stock |
11.9 |
11.0 |
10.1 |
8.0 |
8.2 |
|
Interest Expense, Supplemental |
15.0 |
13.6 |
15.3 |
19.8 |
17.8 |
|
Depreciation, Supplemental |
12.5 |
16.8 |
16.6 |
13.1 |
10.9 |
|
Total Special Items |
-4.4 |
10.5 |
0.6 |
9.3 |
3.8 |
|
Normalized Income Before Tax |
142.4 |
149.5 |
82.4 |
129.9 |
135.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-1.8 |
3.6 |
0.0 |
3.3 |
1.3 |
|
Inc Tax Ex Impact of Sp Items |
52.6 |
53.2 |
25.6 |
48.1 |
55.4 |
|
Normalized Income After Tax |
89.7 |
96.3 |
56.8 |
81.7 |
80.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
83.8 |
92.3 |
55.3 |
77.8 |
71.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.62 |
0.69 |
0.41 |
0.58 |
0.53 |
|
Diluted Normalized EPS |
0.62 |
0.69 |
0.41 |
0.58 |
0.53 |
|
Amort of Acquisition Costs, Supplemental |
0.5 |
0.6 |
0.5 |
0.5 |
0.7 |
|
Rental Expenses |
18.2 |
17.0 |
16.4 |
16.0 |
12.9 |
|
Reported Operating Profit |
136.0 |
145.8 |
91.8 |
142.2 |
134.8 |
|
Reported Ordinary Profit |
142.2 |
148.8 |
84.8 |
129.6 |
131.5 |
|
Normalized EBIT |
136.0 |
145.8 |
91.8 |
142.3 |
134.9 |
|
Normalized EBITDA |
149.1 |
163.2 |
108.9 |
155.9 |
146.5 |
|
Current Tax - Total |
57.2 |
- |
- |
- |
- |
|
Current Tax - Total |
57.2 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-2.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-2.7 |
- |
- |
- |
- |
|
Income Tax - Total |
54.5 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
2.1 |
2.0 |
1.9 |
1.7 |
1.5 |
|
Service Cost - Domestic |
3.6 |
3.4 |
3.1 |
2.8 |
2.2 |
|
Expected Return on Assets - Domestic |
-2.1 |
-1.8 |
-1.5 |
-1.9 |
-1.8 |
|
Actuarial Gains and Losses - Domestic |
4.3 |
3.4 |
3.4 |
2.3 |
1.2 |
|
Transition Costs - Domestic |
3.7 |
3.4 |
3.2 |
3.0 |
2.6 |
|
Other Pension, Net - Domestic |
1.5 |
1.6 |
1.2 |
1.7 |
2.6 |
|
Domestic Pension Plan Expense |
13.1 |
12.1 |
11.1 |
9.7 |
8.3 |
|
Total Pension Expense |
13.1 |
12.1 |
11.1 |
9.7 |
8.3 |
|
Discount Rate - Domestic |
1.80% |
2.10% |
2.20% |
2.10% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
2.1 |
2.0 |
1.9 |
1.7 |
1.5 |
|
Total Plan Service Cost |
3.6 |
3.4 |
3.1 |
2.8 |
2.2 |
|
Total Plan Expected Return |
-2.1 |
-1.8 |
-1.5 |
-1.9 |
-1.8 |
|
Total Plan Other Expense |
1.5 |
1.6 |
1.2 |
1.7 |
2.6 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
253.2 |
260.5 |
186.9 |
421.7 |
158.6 |
|
Cash and Short Term Investments |
253.2 |
260.5 |
186.9 |
421.7 |
158.6 |
|
Accounts Receivable -
Trade, Gross |
2,761.8 |
2,718.8 |
2,237.3 |
2,259.7 |
2,911.9 |
|
Provision for Doubtful
Accounts |
-5.8 |
-8.4 |
-7.9 |
-11.5 |
-14.9 |
|
Trade Accounts Receivable - Net |
2,756.0 |
2,710.3 |
2,229.3 |
2,248.2 |
2,897.0 |
|
Notes Receivable - Short Term |
0.1 |
0.1 |
0.1 |
0.1 |
0.7 |
|
Total Receivables, Net |
2,756.0 |
2,710.4 |
2,229.4 |
2,248.2 |
2,897.7 |
|
Inventories - Finished Goods |
341.4 |
380.1 |
249.0 |
565.2 |
- |
|
Total Inventory |
341.4 |
380.1 |
249.0 |
565.2 |
359.6 |
|
Deferred Income Tax - Current Asset |
13.8 |
13.9 |
11.0 |
19.1 |
13.1 |
|
Other Current Assets |
171.3 |
175.0 |
219.6 |
219.2 |
181.9 |
|
Other Current Assets, Total |
185.1 |
188.9 |
230.5 |
238.3 |
194.9 |
|
Total Current Assets |
3,535.7 |
3,539.9 |
2,895.8 |
3,473.4 |
3,610.8 |
|
|
|
|
|
|
|
|
Buildings |
141.1 |
130.2 |
105.4 |
97.1 |
103.9 |
|
Land/Improvements |
100.5 |
78.2 |
74.6 |
71.1 |
75.7 |
|
Machinery/Equipment |
102.3 |
89.9 |
78.3 |
76.4 |
75.7 |
|
Construction in
Progress |
0.9 |
7.9 |
12.7 |
7.4 |
2.9 |
|
Other
Property/Plant/Equipment |
4.3 |
4.5 |
3.4 |
1.2 |
0.0 |
|
Property/Plant/Equipment - Gross |
349.2 |
310.7 |
274.5 |
253.2 |
258.3 |
|
Accumulated Depreciation |
-129.0 |
-124.3 |
-108.3 |
-96.2 |
-98.9 |
|
Property/Plant/Equipment - Net |
220.2 |
186.5 |
166.2 |
156.9 |
159.4 |
|
Goodwill, Net |
0.1 |
0.6 |
1.0 |
1.4 |
1.8 |
|
Intangibles, Net |
18.6 |
24.1 |
27.0 |
32.7 |
20.1 |
|
LT Investment - Affiliate Companies |
85.1 |
75.2 |
61.4 |
- |
- |
|
LT Investments - Other |
95.7 |
97.5 |
86.3 |
115.5 |
143.2 |
|
Long Term Investments |
180.9 |
172.7 |
147.7 |
115.5 |
143.2 |
|
Note Receivable - Long Term |
2.5 |
6.1 |
7.5 |
12.0 |
8.0 |
|
Deferred Income Tax - Long Term Asset |
6.9 |
5.7 |
6.3 |
7.0 |
3.4 |
|
Other Long Term Assets |
81.3 |
74.8 |
62.9 |
56.9 |
60.4 |
|
Other Long Term Assets, Total |
88.2 |
80.5 |
69.1 |
63.9 |
63.8 |
|
Total Assets |
4,046.3 |
4,010.4 |
3,314.3 |
3,855.9 |
4,007.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
2,151.5 |
2,027.8 |
1,682.7 |
1,807.6 |
2,318.5 |
|
Accrued Expenses |
12.8 |
12.3 |
9.8 |
10.9 |
11.3 |
|
Notes Payable/Short Term Debt |
633.7 |
686.6 |
572.2 |
881.7 |
494.1 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
72.4 |
101.8 |
117.1 |
31.7 |
|
Customer Advances |
- |
- |
- |
- |
0.0 |
|
Income Taxes Payable |
29.8 |
44.5 |
6.0 |
25.0 |
48.4 |
|
Other Current Liabilities |
224.2 |
220.8 |
175.7 |
220.8 |
253.1 |
|
Other Current liabilities, Total |
254.0 |
265.3 |
181.6 |
245.8 |
301.6 |
|
Total Current Liabilities |
3,052.0 |
3,064.4 |
2,548.1 |
3,063.1 |
3,157.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
234.4 |
181.0 |
144.5 |
157.0 |
272.3 |
|
Total Long Term Debt |
234.4 |
181.0 |
144.5 |
157.0 |
272.3 |
|
Total Debt |
868.1 |
940.0 |
818.5 |
1,155.8 |
798.1 |
|
|
|
|
|
|
|
|
Minority Interest |
108.5 |
94.2 |
34.6 |
34.5 |
38.2 |
|
Reserves |
10.1 |
4.8 |
5.0 |
5.6 |
3.9 |
|
Pension Benefits - Underfunded |
6.1 |
4.8 |
3.9 |
3.3 |
3.1 |
|
Other Long Term Liabilities |
37.4 |
80.2 |
93.6 |
169.0 |
94.4 |
|
Other Liabilities, Total |
53.6 |
89.8 |
102.6 |
177.9 |
101.4 |
|
Total Liabilities |
3,448.5 |
3,429.4 |
2,829.8 |
3,432.6 |
3,569.1 |
|
|
|
|
|
|
|
|
Redeemable Preferred Stock |
- |
96.5 |
107.0 |
121.5 |
150.7 |
|
Redeemable Preferred Stock |
- |
96.5 |
107.0 |
121.5 |
150.7 |
|
Common Stock |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Common Stock |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Additional Paid-In Capital |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Retained Earnings (Accumulated Deficit) |
431.6 |
408.4 |
319.3 |
279.5 |
245.2 |
|
Treasury Stock - Common |
-0.9 |
-0.8 |
-0.6 |
-0.5 |
-0.4 |
|
Unrealized Gain (Loss) |
3.6 |
5.3 |
5.1 |
1.8 |
15.4 |
|
Translation Adjustment |
-48.9 |
-42.9 |
-26.6 |
-34.7 |
1.9 |
|
Other Equity, Total |
-48.9 |
-42.9 |
-26.6 |
-34.7 |
1.9 |
|
Total Equity |
597.8 |
581.1 |
484.5 |
423.2 |
438.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,046.3 |
4,010.4 |
3,314.3 |
3,855.8 |
4,007.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Total Common Shares Outstanding |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Treasury Shares - Common Stock Primary Issue |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Shares Outstanding - Preferred Stock Issue 2 |
0.4 |
0.8 |
1.0 |
1.2 |
1.5 |
|
Total Preferred Stock Outstanding |
0.4 |
0.8 |
1.0 |
1.2 |
1.5 |
|
Treasury Shares - Preferred Issue 2 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Employees |
2,231 |
2,054 |
2,030 |
2,079 |
2,129 |
|
Number of Common Shareholders |
4,312 |
4,440 |
4,866 |
5,045 |
4,992 |
|
Deferred Revenue - Current |
- |
- |
- |
- |
0.0 |
|
Total Long Term Debt, Supplemental |
269.8 |
253.4 |
246.3 |
274.1 |
304.1 |
|
Long Term Debt Maturing within 1 Year |
35.4 |
72.4 |
101.8 |
117.1 |
31.7 |
|
Long Term Debt Maturing in Year 2 |
27.5 |
0.0 |
64.2 |
96.3 |
116.6 |
|
Long Term Debt Maturing in Year 3 |
115.9 |
0.0 |
0.0 |
60.7 |
95.4 |
|
Long Term Debt Maturing in Year 4 |
91.0 |
90.5 |
0.0 |
0.0 |
60.3 |
|
Long Term Debt Maturing in Year 5 |
- |
90.5 |
80.3 |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
143.4 |
0.0 |
64.2 |
157.0 |
212.1 |
|
Long Term Debt Maturing in 4-5 Years |
91.0 |
181.0 |
80.3 |
0.0 |
60.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Capital Leases, Supplemental |
3.0 |
3.6 |
3.3 |
1.7 |
- |
|
Capital Lease Payments Due in Year 1 |
0.9 |
0.4 |
0.6 |
0.4 |
- |
|
Capital Lease Payments Due in Year 2 |
0.7 |
0.7 |
0.7 |
0.4 |
- |
|
Capital Lease Payments Due in Year 3 |
0.4 |
0.6 |
0.5 |
0.5 |
- |
|
Capital Lease Payments Due in Year 4 |
0.3 |
0.3 |
0.4 |
0.3 |
- |
|
Capital Lease Payments Due in Year 5 |
0.2 |
0.3 |
0.2 |
0.2 |
- |
|
Capital Lease Payments Due in 2-3 Years |
1.1 |
1.3 |
1.2 |
0.9 |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.5 |
0.6 |
0.6 |
0.5 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.5 |
1.3 |
0.9 |
0.0 |
- |
|
Pension Obligation - Domestic |
115.2 |
110.2 |
97.2 |
96.6 |
99.3 |
|
Plan Assets - Domestic |
110.3 |
105.9 |
89.5 |
76.8 |
83.1 |
|
Funded Status - Domestic |
-4.8 |
-4.3 |
-7.7 |
-19.8 |
-16.2 |
|
Total Funded Status |
-4.8 |
-4.3 |
-7.7 |
-19.8 |
-16.2 |
|
Discount Rate - Domestic |
1.80% |
2.10% |
2.20% |
2.10% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Prepaid Benefits - Domestic |
31.8 |
36.8 |
29.8 |
25.9 |
23.4 |
|
Accrued Liabilities - Domestic |
-6.1 |
-4.8 |
-3.9 |
-3.3 |
-3.1 |
|
Other Assets, Net - Domestic |
30.5 |
36.2 |
33.5 |
42.4 |
36.5 |
|
Net Assets Recognized on Balance Sheet |
56.2 |
68.1 |
59.4 |
65.0 |
56.8 |
|
Total Plan Obligations |
115.2 |
110.2 |
97.2 |
96.6 |
99.3 |
|
Total Plan Assets |
110.3 |
105.9 |
89.5 |
76.8 |
83.1 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
146.8 |
138.9 |
81.8 |
120.5 |
131.7 |
|
Depreciation |
20.0 |
16.8 |
16.6 |
13.1 |
10.9 |
|
Depreciation/Depletion |
20.0 |
16.8 |
16.6 |
13.1 |
10.9 |
|
Unusual Items |
-13.3 |
9.9 |
3.0 |
7.2 |
0.3 |
|
Equity in Net Earnings (Loss) |
-6.1 |
-6.7 |
0.2 |
-1.7 |
-6.7 |
|
Other Non-Cash Items |
12.6 |
5.5 |
-1.8 |
14.3 |
11.6 |
|
Non-Cash Items |
-6.7 |
8.7 |
1.5 |
19.8 |
5.2 |
|
Accounts Receivable |
38.0 |
-140.2 |
99.6 |
508.6 |
64.7 |
|
Inventories |
76.4 |
-106.7 |
335.7 |
-225.9 |
-56.9 |
|
Other Assets |
9.1 |
-17.0 |
77.3 |
25.0 |
-27.1 |
|
Accounts Payable |
77.2 |
210.7 |
-212.4 |
-468.2 |
-56.3 |
|
Other Liabilities |
-35.5 |
-58.0 |
-143.7 |
63.3 |
135.0 |
|
Other Operating Cash Flow |
-64.6 |
-16.5 |
-55.1 |
-82.5 |
-45.5 |
|
Changes in Working Capital |
100.6 |
-127.5 |
101.4 |
-179.7 |
14.1 |
|
Cash from Operating Activities |
260.7 |
36.8 |
201.3 |
-26.3 |
162.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-18.0 |
-14.4 |
-17.8 |
-30.8 |
-17.2 |
|
Capital Expenditures |
-18.0 |
-14.4 |
-17.8 |
-30.8 |
-17.2 |
|
Sale of Business |
- |
- |
- |
0.0 |
2.8 |
|
Sale of Fixed Assets |
0.8 |
2.3 |
0.3 |
3.1 |
1.6 |
|
Sale/Maturity of Investment |
8.5 |
4.7 |
13.5 |
14.7 |
7.4 |
|
Investment, Net |
- |
0.0 |
-8.0 |
-0.2 |
-3.6 |
|
Purchase of Investments |
-15.0 |
-11.3 |
-19.3 |
-16.5 |
-21.8 |
|
Other Investing Cash Flow |
-6.3 |
0.5 |
-0.1 |
-0.8 |
-2.7 |
|
Other Investing Cash Flow Items, Total |
-12.0 |
-3.9 |
-13.7 |
0.4 |
-16.2 |
|
Cash from Investing Activities |
-29.9 |
-18.2 |
-31.5 |
-30.4 |
-33.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-1.1 |
52.6 |
-0.9 |
-0.1 |
-1.1 |
|
Financing Cash Flow Items |
-1.1 |
52.6 |
-0.9 |
-0.1 |
-1.1 |
|
Cash Dividends Paid - Common |
-14.7 |
-16.6 |
-10.9 |
-12.2 |
-8.1 |
|
Total Cash Dividends Paid |
-14.7 |
-16.6 |
-10.9 |
-12.2 |
-8.1 |
|
Repurchase/Retirement
of Common |
-50.7 |
-23.5 |
-21.5 |
-29.9 |
-0.1 |
|
Common Stock, Net |
-50.7 |
-23.5 |
-21.5 |
-29.9 |
-0.1 |
|
Issuance (Retirement) of Stock, Net |
-50.7 |
-23.5 |
-21.5 |
-29.9 |
-0.1 |
|
Short Term Debt, Net |
-87.3 |
47.3 |
-355.2 |
404.8 |
-140.9 |
|
Long Term Debt Issued |
0.0 |
87.5 |
80.7 |
0.2 |
26.3 |
|
Long Term Debt
Reduction |
-79.1 |
-111.2 |
-125.1 |
-31.4 |
-2.0 |
|
Long Term Debt, Net |
-79.1 |
-23.7 |
-44.4 |
-31.2 |
24.3 |
|
Issuance (Retirement) of Debt, Net |
-166.4 |
23.6 |
-399.5 |
373.6 |
-116.6 |
|
Cash from Financing Activities |
-232.9 |
36.1 |
-432.9 |
331.3 |
-126.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-6.5 |
-7.9 |
1.6 |
-16.4 |
-0.7 |
|
Net Change in Cash |
-8.7 |
46.8 |
-261.5 |
258.2 |
1.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
257.2 |
190.2 |
436.8 |
145.8 |
126.4 |
|
Net Cash - Ending Balance |
248.5 |
237.0 |
175.3 |
404.0 |
128.2 |
|
Cash Interest Paid |
14.2 |
14.1 |
16.8 |
18.4 |
17.3 |
|
Cash Taxes Paid |
65.7 |
12.3 |
49.1 |
75.7 |
33.9 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
Total Revenue |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
|
|
|
|
|
|
|
Cost of Sales |
13,195.4 |
12,041.2 |
9,463.1 |
12,644.4 |
11,369.4 |
|
Revers-Install Sales |
- |
- |
- |
0.0 |
0.0 |
|
Dfrd-Install Sales |
- |
- |
- |
- |
0.0 |
|
Other Selling/General/Admin. Expense |
76.2 |
- |
- |
- |
- |
|
Shipping and Storage |
194.3 |
187.0 |
139.6 |
143.3 |
119.4 |
|
Res-Doubt.Acct.Allow |
- |
- |
0.0 |
0.3 |
0.0 |
|
Directors'' compensations, salaries and |
100.2 |
87.1 |
78.6 |
85.8 |
66.8 |
|
Bonus Allowances |
11.1 |
10.0 |
8.2 |
9.1 |
8.4 |
|
Expense-Accr.Retire |
12.2 |
11.1 |
10.5 |
8.9 |
7.0 |
|
Benefits |
16.0 |
14.2 |
13.0 |
14.1 |
12.5 |
|
Depreciation |
12.5 |
11.6 |
11.6 |
8.3 |
6.6 |
|
Rent |
18.2 |
17.0 |
16.4 |
16.0 |
12.9 |
|
Amortization of Goodwill |
0.5 |
0.6 |
0.5 |
0.5 |
0.7 |
|
Other Selling & General Expenses |
- |
71.9 |
62.0 |
71.5 |
61.6 |
|
Provision for loss on compensation |
5.6 |
- |
- |
- |
- |
|
Provision for loss on litigation |
3.1 |
- |
- |
- |
- |
|
SP G on Negative Goodwill |
-0.8 |
0.0 |
-1.7 |
0.0 |
- |
|
SP Gains on Repurchase of Debts |
- |
- |
- |
0.0 |
-0.4 |
|
Provision for loss on compensation |
- |
0.0 |
- |
- |
- |
|
Provision for loss on litigation |
- |
0.0 |
- |
- |
- |
|
SP Loss on Val. of LT Inv't. Secs. |
- |
0.3 |
0.1 |
5.0 |
0.9 |
|
SP Reserve for Debts Guarantees |
- |
- |
0.0 |
1.9 |
0.0 |
|
SP Impairment Loss |
1.0 |
0.1 |
0.8 |
0.5 |
1.5 |
|
SP Loss on Disaster |
0.0 |
2.3 |
0.0 |
- |
- |
|
SP L on Adj. for Changes of Acct. Asset |
0.0 |
0.6 |
0.0 |
- |
- |
|
SP L on Retire. of Fixed Assets |
0.0 |
0.2 |
0.0 |
- |
- |
|
SP Loss on val. of Golf Membership |
2.8 |
0.2 |
0.1 |
0.4 |
0.0 |
|
Total Operating Expense |
13,648.4 |
12,455.6 |
9,802.9 |
13,009.8 |
11,667.4 |
|
|
|
|
|
|
|
|
SP Gain on Sale of Fixed Assets |
16.7 |
0.0 |
0.1 |
0.0 |
0.1 |
|
SP Gain on Sale of LT Inv't. Secs. |
0.0 |
0.3 |
0.0 |
0.4 |
3.5 |
|
SP Gain on transfer of business |
- |
- |
- |
0.0 |
2.8 |
|
SP Loss on Sale of LT Inv't. Secs. |
-0.4 |
0.0 |
-2.9 |
-0.7 |
-0.3 |
|
SP Loss on Business Liquidations |
0.0 |
-5.4 |
-0.9 |
-1.1 |
-3.7 |
|
SP Sales Loss-Fixed Assets |
0.0 |
-0.8 |
0.0 |
-0.1 |
-0.2 |
|
SP Loss on Changes in Equity |
0.0 |
-0.3 |
0.0 |
- |
- |
|
NOP Interest Income |
4.2 |
4.5 |
4.5 |
4.7 |
3.6 |
|
NOP Dividend Income |
2.3 |
2.2 |
1.6 |
2.3 |
1.9 |
|
NOP Foreign Exchange Gain |
0.8 |
0.8 |
0.0 |
1.5 |
2.2 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Rent Income |
- |
- |
0.0 |
0.7 |
0.7 |
|
NOP Equity Earnings |
6.1 |
6.7 |
0.0 |
1.7 |
6.7 |
|
NOP Rev-Doubt.Acct.Allow |
5.9 |
2.2 |
4.3 |
0.0 |
- |
|
NOP Other Non-Operating Income |
6.2 |
4.7 |
8.0 |
3.2 |
7.6 |
|
NOP Interest Expenses |
-15.0 |
-13.6 |
-15.3 |
-19.8 |
-17.8 |
|
NOP Foreign Exchange Losses |
- |
0.0 |
-4.3 |
0.0 |
- |
|
NOP Equity Losses |
- |
0.0 |
-0.2 |
0.0 |
- |
|
NOP Loss-Transfer of Receivable |
-0.2 |
-0.2 |
-0.4 |
-2.2 |
-1.3 |
|
NOP Other Non-Operating Expenses |
-4.0 |
-4.2 |
-5.0 |
-4.8 |
-6.9 |
|
Net Income Before Taxes |
146.8 |
138.9 |
81.8 |
120.5 |
131.7 |
|
|
|
|
|
|
|
|
Total income taxes |
54.5 |
49.6 |
25.5 |
44.8 |
54.1 |
|
Net Income After Taxes |
92.3 |
89.3 |
56.3 |
75.7 |
77.5 |
|
|
|
|
|
|
|
|
Minority interests in income |
-5.2 |
-2.5 |
0.2 |
-1.8 |
-6.3 |
|
Net Income Before Extra. Items |
87.1 |
86.8 |
56.5 |
73.9 |
71.2 |
|
Net Income |
87.1 |
86.8 |
56.5 |
73.9 |
71.2 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Distribution for Prefer Shares |
-0.7 |
- |
- |
- |
- |
|
Preferred Dividend |
- |
-1.4 |
-1.7 |
-2.1 |
-2.5 |
|
Adjustment |
- |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Basic EPS Including ExtraOrdinary Item |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
Diluted Weighted Average Shares |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Diluted EPS Excluding ExtraOrd Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Diluted EPS Including ExtraOrd Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
DPS-Common Stock |
0.09 |
0.08 |
0.05 |
0.06 |
0.06 |
|
Gross Dividends - Common Stock |
11.9 |
11.0 |
10.1 |
8.0 |
8.2 |
|
Normalized Income Before Taxes |
142.4 |
149.5 |
82.4 |
129.9 |
135.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
52.6 |
53.2 |
25.6 |
48.1 |
55.4 |
|
Normalized Income After Taxes |
89.7 |
96.3 |
56.8 |
81.7 |
80.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
83.8 |
92.3 |
55.3 |
77.8 |
71.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.62 |
0.69 |
0.41 |
0.58 |
0.53 |
|
Diluted Normalized EPS |
0.62 |
0.69 |
0.41 |
0.58 |
0.53 |
|
Rental Expense |
18.2 |
17.0 |
16.4 |
16.0 |
12.9 |
|
Interest Expense |
15.0 |
13.6 |
15.3 |
19.8 |
17.8 |
|
Depreciation |
12.5 |
- |
- |
- |
- |
|
Depreciation |
- |
16.8 |
16.6 |
13.1 |
10.9 |
|
Amort of goodwill |
0.5 |
0.6 |
0.5 |
0.5 |
0.7 |
|
Income taxes-current |
57.2 |
- |
- |
- |
- |
|
Current Tax - Total |
57.2 |
- |
- |
- |
- |
|
Income taxes-deferred |
-2.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-2.7 |
- |
- |
- |
- |
|
Income Tax - Total |
54.5 |
- |
- |
- |
- |
|
Reported Operating Profit |
136.0 |
145.8 |
91.8 |
142.2 |
134.8 |
|
Reported Ordinary Profit |
142.2 |
148.8 |
84.8 |
129.6 |
131.5 |
|
Service Cost |
3.6 |
3.4 |
3.1 |
2.8 |
2.2 |
|
Interest Cost |
2.1 |
2.0 |
1.9 |
1.7 |
1.5 |
|
Expected Return on Plan Assets |
-2.1 |
-1.8 |
-1.5 |
-1.9 |
-1.8 |
|
Pension Exp. due to Acct. Changes |
3.7 |
3.4 |
3.2 |
3.0 |
2.6 |
|
Actuarial Gains and Losses |
4.3 |
3.4 |
3.4 |
2.3 |
1.2 |
|
Pension Plan Exps. - Compendium Method |
1.5 |
1.6 |
1.2 |
1.7 |
2.6 |
|
Domestic Pension Plan Expense |
13.1 |
12.1 |
11.1 |
9.7 |
8.3 |
|
Total Pension Expense |
13.1 |
12.1 |
11.1 |
9.7 |
8.3 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.80% |
- |
- |
- |
- |
|
Discount Rate |
- |
2.10% |
2.20% |
2.10% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
2.00% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
2.00% |
2.00% |
2.50% |
2.50% |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Deposit |
253.2 |
260.5 |
186.9 |
421.7 |
158.6 |
|
Notes and accounts receivable-trade |
2,761.8 |
2,718.8 |
2,237.3 |
2,259.7 |
2,911.9 |
|
Lease receivables and investment assets |
55.7 |
70.9 |
138.4 |
85.8 |
0.0 |
|
Inventories |
- |
- |
- |
- |
359.6 |
|
Inventories-merchandise&finished goods |
341.4 |
380.1 |
249.0 |
565.2 |
- |
|
Deferred Income Taxes (Current) |
13.8 |
13.9 |
11.0 |
19.1 |
13.1 |
|
Short-term loans receivable |
0.1 |
0.1 |
0.1 |
0.1 |
0.7 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Curr.Asset |
115.6 |
104.1 |
81.1 |
133.4 |
181.9 |
|
Doubtful Account |
-5.8 |
-8.4 |
-7.9 |
-11.5 |
-14.9 |
|
Total Current Assets |
3,535.7 |
3,539.9 |
2,895.8 |
3,473.4 |
3,610.8 |
|
|
|
|
|
|
|
|
Buildings & Structures, Gross |
141.1 |
130.2 |
105.4 |
97.1 |
103.9 |
|
Accumulated depreciation |
-60.9 |
-58.9 |
-50.8 |
-45.1 |
-45.4 |
|
Machinery, equipment and vehicles |
88.9 |
78.1 |
67.7 |
66.5 |
65.8 |
|
Accumulated depreciation |
-56.7 |
-55.0 |
-48.9 |
-43.7 |
-46.0 |
|
Tools, furniture and fixtures |
13.5 |
11.9 |
10.5 |
9.9 |
9.9 |
|
Accumulated depreciation |
-9.8 |
-9.2 |
-8.0 |
-7.3 |
-7.5 |
|
Land |
100.5 |
78.2 |
74.6 |
71.1 |
75.7 |
|
Lease assets, gross |
4.3 |
4.5 |
3.4 |
1.2 |
0.0 |
|
Accumulated depreciation |
-1.6 |
-1.2 |
-0.6 |
-0.1 |
0.0 |
|
Construction-In-Progress |
0.9 |
7.9 |
12.7 |
7.4 |
2.9 |
|
Software |
14.7 |
19.2 |
21.4 |
26.5 |
15.7 |
|
Goodwill |
0.1 |
0.6 |
1.0 |
1.4 |
1.8 |
|
Other Intangible |
3.9 |
4.9 |
5.6 |
6.2 |
4.4 |
|
other lt invest |
95.7 |
- |
- |
- |
- |
|
Long-Term Investment in Securities |
- |
97.5 |
86.3 |
115.5 |
143.2 |
|
Invt Secs Noncons, Asc, Affd Cos |
62.8 |
- |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
22.3 |
- |
- |
- |
- |
|
Equity secs.-nonconsolidated affil. |
- |
60.5 |
48.9 |
- |
- |
|
Long-term loans receivable |
2.5 |
2.8 |
2.7 |
3.0 |
2.3 |
|
LT Notes Receivable |
- |
- |
- |
- |
5.6 |
|
Claims bankruptcy & others |
- |
3.3 |
4.8 |
9.0 |
- |
|
Deferred tax assets |
6.9 |
5.7 |
6.3 |
7.0 |
3.4 |
|
Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
87.8 |
- |
- |
- |
- |
|
Other Assets |
- |
80.6 |
69.9 |
68.4 |
72.2 |
|
Inv't partnership-nonconsol.affil. |
- |
14.7 |
12.5 |
- |
- |
|
Doubtful Account |
-6.5 |
-5.8 |
-7.1 |
-11.5 |
-11.8 |
|
Other Plant/machinery, Net |
0.0 |
- |
- |
- |
- |
|
Other Plant/machinery, Net |
0.0 |
- |
- |
- |
- |
|
Other PPE under Capital Lease, Net |
0.0 |
- |
- |
- |
- |
|
other ppe |
0.0 |
- |
- |
- |
- |
|
Total Assets |
4,046.3 |
4,010.4 |
3,314.3 |
3,855.9 |
4,007.1 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
2,151.5 |
2,027.8 |
1,682.7 |
1,807.6 |
2,318.5 |
|
Electronically recorded obligations-oper |
85.5 |
52.1 |
6.8 |
- |
- |
|
Short-term loans payable |
633.7 |
686.6 |
572.2 |
881.7 |
494.1 |
|
LT borrowings (current) |
- |
72.4 |
101.8 |
117.1 |
31.7 |
|
Current debt of trade receivables |
35.4 |
63.7 |
100.5 |
95.6 |
42.5 |
|
Tax Payable |
29.8 |
44.5 |
6.0 |
25.0 |
48.4 |
|
Bonus Allowances |
12.8 |
12.3 |
9.8 |
10.9 |
11.3 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Deferred Profit |
- |
- |
- |
- |
0.0 |
|
Other Curr. Liab |
103.3 |
104.9 |
68.4 |
125.2 |
210.6 |
|
Total Current Liabilities |
3,052.0 |
3,064.4 |
2,548.1 |
3,063.1 |
3,157.1 |
|
|
|
|
|
|
|
|
Payables Under Fluidity Trade Receivable |
52.3 |
- |
- |
- |
- |
|
Long-term loans payable |
182.1 |
181.0 |
144.5 |
157.0 |
272.3 |
|
Total Long Term Debt |
234.4 |
181.0 |
144.5 |
157.0 |
272.3 |
|
|
|
|
|
|
|
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Current debt of trade receivables |
- |
40.8 |
62.9 |
148.8 |
66.4 |
|
Reserve for Retirement Benefit(accrued) |
6.1 |
4.8 |
3.9 |
3.3 |
3.1 |
|
Provision for loss on compensation |
5.4 |
- |
- |
- |
- |
|
Provision for loss on litigation |
3.0 |
- |
- |
- |
- |
|
Provision for loss on compensation |
- |
0.0 |
- |
- |
- |
|
Res. for Guarantee Oblig.(Non-Current) |
1.7 |
4.8 |
5.0 |
5.5 |
2.0 |
|
Provision for loss on litigation |
- |
0.0 |
- |
- |
- |
|
Res. for Liquid. of Business |
- |
- |
0.0 |
0.1 |
1.9 |
|
Other Long-Term Liabilities |
37.4 |
39.4 |
30.7 |
20.2 |
28.0 |
|
Minor. Interest |
108.5 |
94.2 |
34.6 |
34.5 |
38.2 |
|
Total Liabilities |
3,448.5 |
3,429.4 |
2,829.8 |
3,432.6 |
3,569.1 |
|
|
|
|
|
|
|
|
Capital stock |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Preferred Stock B |
- |
96.5 |
107.0 |
121.5 |
150.7 |
|
Total capital surpluses |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Total retained earnings |
431.6 |
408.4 |
319.3 |
279.5 |
245.2 |
|
Treasury Stock |
-0.9 |
-0.8 |
-0.6 |
-0.5 |
-0.4 |
|
Valuation difference on available-for-sa |
4.1 |
5.0 |
4.4 |
0.6 |
13.0 |
|
Deferred Hedge Gain/Loss |
-0.6 |
0.4 |
0.7 |
1.2 |
2.4 |
|
Translate Adjust |
-48.9 |
-42.9 |
-26.6 |
-34.7 |
1.9 |
|
Total Equity |
597.8 |
581.1 |
484.5 |
423.2 |
438.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
4,046.3 |
4,010.4 |
3,314.3 |
3,855.8 |
4,007.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Total Common Shares Outstanding |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
T/S-Common Stock |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
S/O-Preferred Stock B |
0.4 |
0.8 |
1.0 |
1.2 |
1.5 |
|
Total Preferred Shares Outstanding |
0.4 |
0.8 |
1.0 |
1.2 |
1.5 |
|
T/S-Preferred Stock B |
0.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Revenue - Current |
- |
- |
- |
- |
0.0 |
|
Full-Time Employees |
2,231 |
2,054 |
2,030 |
2,079 |
2,129 |
|
Total Number of Shareholders |
4,312 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
4,440 |
4,866 |
5,045 |
4,992 |
|
Division And End Of Current Period Remai |
35.4 |
- |
- |
- |
- |
|
LT Debts<1Yr. |
0.0 |
72.4 |
101.8 |
117.1 |
31.7 |
|
Oth Intt Br Dbt Matg ovr a Yr wthn 2 Yr |
27.5 |
- |
- |
- |
- |
|
LT Debts<2Yr. |
- |
0.0 |
64.2 |
96.3 |
116.6 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
91.0 |
- |
- |
- |
- |
|
Oth Intt Br Dbt Matg ovr 2 Yr wthn 3 Yr |
24.8 |
- |
- |
- |
- |
|
LT Debts<3Yr. |
- |
0.0 |
0.0 |
60.7 |
95.4 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
91.0 |
- |
- |
- |
- |
|
LT Debts<4Yr. |
- |
90.5 |
0.0 |
0.0 |
60.3 |
|
LT Debts<5Yr. |
- |
90.5 |
80.3 |
0.0 |
0.0 |
|
LT dent remaining |
0.0 |
- |
- |
- |
- |
|
LT Debts Remaining |
- |
- |
0.0 |
0.0 |
0.0 |
|
Total Long Term Debt, Supplemental |
269.8 |
253.4 |
246.3 |
274.1 |
304.1 |
|
Capital Lease Payments Due Within 1 Year |
0.9 |
0.4 |
0.6 |
0.4 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
0.7 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
0.7 |
0.7 |
0.4 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
0.4 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
- |
0.6 |
0.5 |
0.5 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.3 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
0.3 |
0.4 |
0.3 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.2 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
0.3 |
0.2 |
0.2 |
- |
|
capital lease remaining |
0.5 |
- |
- |
- |
- |
|
Capital Lease - Remaining Maturities |
- |
1.3 |
0.9 |
0.0 |
- |
|
Total Capital Leases |
3.0 |
3.6 |
3.3 |
1.7 |
- |
|
Pension Obligation |
115.2 |
110.2 |
97.2 |
96.6 |
99.3 |
|
Fair Value of Plan Assets |
110.3 |
105.9 |
89.5 |
76.8 |
83.1 |
|
Funded Status |
-4.8 |
-4.3 |
-7.7 |
-19.8 |
-16.2 |
|
Total Funded Status |
-4.8 |
-4.3 |
-7.7 |
-19.8 |
-16.2 |
|
Discount Rate |
1.80% |
2.10% |
2.20% |
2.10% |
2.00% |
|
Expected Rate of Return |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expense Unrecog. for Acct. Changes |
10.8 |
14.3 |
15.8 |
17.9 |
20.8 |
|
Unrecognized Actuarial Gains and Losses |
19.8 |
21.9 |
17.7 |
24.5 |
15.7 |
|
Prepaid Pension Benefits |
31.8 |
36.8 |
29.8 |
25.9 |
23.4 |
|
Reserve for Accrued Retirement Benefits |
-6.1 |
-4.8 |
-3.9 |
-3.3 |
-3.1 |
|
Net Assets Recognized on Balance Sheet |
56.2 |
68.1 |
59.4 |
65.0 |
56.8 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income before Taxes |
146.8 |
138.9 |
81.8 |
120.5 |
131.7 |
|
Depreciation |
20.0 |
16.8 |
16.6 |
13.1 |
10.9 |
|
Impairment Loss on Assets |
1.0 |
0.1 |
0.8 |
0.5 |
1.5 |
|
compensation loss reserve |
5.6 |
- |
- |
- |
- |
|
Provision for loss on litigation |
3.1 |
- |
- |
- |
- |
|
Increase (decrease) in allowance for dou |
-1.8 |
-2.3 |
-9.5 |
-1.6 |
0.0 |
|
Increase (decrease) in other provision |
-2.9 |
0.8 |
-1.6 |
3.0 |
-0.7 |
|
Int. and Div. Income |
-6.4 |
-6.6 |
-6.1 |
-6.9 |
-5.5 |
|
Interest Expense |
15.0 |
13.6 |
15.3 |
19.8 |
17.8 |
|
Equity in (earnings) losses of affiliate |
-6.1 |
-6.7 |
0.2 |
-1.7 |
-6.7 |
|
Loss (gain) on sales of investment secur |
0.4 |
-0.3 |
2.9 |
0.3 |
-3.2 |
|
Provision for loss on litigation |
- |
0.0 |
- |
- |
- |
|
compensation loss reserve |
- |
0.0 |
- |
- |
- |
|
Occurrence of negative goodwill |
-0.8 |
0.0 |
-1.7 |
0.0 |
- |
|
Loss (gain) on valuation of investment s |
2.8 |
0.3 |
0.1 |
5.0 |
0.9 |
|
Loss on retirement of property, plant an |
0.0 |
0.2 |
0.0 |
0.0 |
0.1 |
|
Loss (gain) on sales of property, plant |
-16.7 |
0.8 |
-0.1 |
0.0 |
0.1 |
|
L on Adj. for Changes of Acct. Asset |
0.0 |
0.6 |
0.0 |
- |
- |
|
Gains on transfer of business |
- |
- |
- |
0.0 |
-2.8 |
|
L on liquid. of business |
0.0 |
5.4 |
0.9 |
1.1 |
3.7 |
|
Loss on Disaster |
0.0 |
2.3 |
0.0 |
- |
- |
|
Loss (gain) on change in equity |
0.0 |
0.3 |
0.0 |
- |
- |
|
Loss on Valuation of Golf Memberships |
0.0 |
0.2 |
0.1 |
0.4 |
0.0 |
|
Decrease (increase) in notes and account |
38.0 |
-140.2 |
99.6 |
508.6 |
64.7 |
|
Decrease (increase) in inventories |
76.4 |
-106.7 |
335.7 |
-225.9 |
-56.9 |
|
Decrease (increase) in other current ass |
9.1 |
-17.0 |
77.3 |
25.0 |
-27.1 |
|
Increase (decrease) in notes and account |
77.2 |
210.7 |
-212.4 |
-468.2 |
-56.3 |
|
Increase (decrease) in other current lia |
-45.9 |
-30.9 |
-48.6 |
-16.4 |
71.7 |
|
Increase (decrease) in other noncurrent |
10.4 |
-27.1 |
-95.2 |
79.7 |
63.4 |
|
Increase in cash and cash equivalents fr |
9.2 |
- |
- |
- |
- |
|
Other, net |
-0.5 |
2.7 |
4.2 |
4.3 |
0.0 |
|
Interest & Dividend Received(Cash Basis) |
6.7 |
7.2 |
6.6 |
7.3 |
5.8 |
|
Interest Paid |
-14.2 |
-14.1 |
-16.8 |
-18.4 |
-17.3 |
|
Taxes Paid |
-65.7 |
-12.3 |
-49.1 |
-75.7 |
-33.9 |
|
Newly Consolidated |
- |
- |
- |
- |
0.0 |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
260.7 |
36.8 |
201.3 |
-26.3 |
162.0 |
|
|
|
|
|
|
|
|
Time Deposit Made |
-8.0 |
-6.3 |
-13.7 |
-13.8 |
-4.0 |
|
Time Deposit Matured |
8.3 |
3.6 |
12.8 |
12.1 |
0.8 |
|
Transfer of businesses |
- |
- |
- |
0.0 |
2.8 |
|
Purchase of property, plant and equipmen |
-18.0 |
-14.4 |
-17.8 |
-30.8 |
-17.2 |
|
Proceeds from sales of property, plant a |
0.8 |
2.3 |
0.3 |
3.1 |
1.6 |
|
Purchase of Long-Term Inv't in Sec. |
-7.0 |
-5.0 |
-5.6 |
-2.7 |
-17.8 |
|
Sale of Long-Term Investment in Sec. |
0.3 |
1.1 |
0.6 |
2.7 |
6.6 |
|
Outflow due to sale subsidiaries' sec. |
- |
0.0 |
-8.0 |
-0.2 |
-3.6 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Loan Made |
-0.3 |
-0.5 |
-0.3 |
-1.6 |
-0.5 |
|
Loan Recovered |
0.5 |
0.6 |
0.5 |
1.1 |
0.6 |
|
Other, net |
-6.5 |
0.4 |
-0.2 |
-0.3 |
-2.8 |
|
Cash from Investing Activities |
-29.9 |
-18.2 |
-31.5 |
-30.4 |
-33.4 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-87.3 |
47.3 |
-355.2 |
404.8 |
-140.9 |
|
Proceeds from long-term loans payable |
0.0 |
87.5 |
80.7 |
0.2 |
26.3 |
|
Repayment of long-term loans payable |
-78.5 |
-110.9 |
-124.5 |
-31.2 |
-2.0 |
|
Repayment of finance lease |
-0.6 |
-0.4 |
-0.6 |
-0.2 |
0.0 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Proceed From Minorities' Payment |
0.0 |
53.2 |
0.0 |
1.1 |
0.0 |
|
Treasury Stock Purchased |
-50.7 |
-23.5 |
-21.5 |
-29.9 |
-0.1 |
|
Cash Dividends Paid |
-14.7 |
-16.6 |
-10.9 |
-12.2 |
-8.1 |
|
Dividends Paid to Minority Shareholders |
-1.1 |
-0.6 |
-0.9 |
-1.2 |
-1.1 |
|
Cash from Financing Activities |
-232.9 |
36.1 |
-432.9 |
331.3 |
-126.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-6.5 |
-7.9 |
1.6 |
-16.4 |
-0.7 |
|
Net Change in Cash |
-8.7 |
46.8 |
-261.5 |
258.2 |
1.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
257.2 |
190.2 |
436.8 |
145.8 |
126.4 |
|
Net Cash - Ending Balance |
248.5 |
237.0 |
175.3 |
404.0 |
128.2 |
|
Cash Interest Paid |
14.2 |
14.1 |
16.8 |
18.4 |
17.3 |
|
Cash Taxes Paid |
65.7 |
12.3 |
49.1 |
75.7 |
33.9 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
Revenue |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
Total Revenue |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
13,195.4 |
12,041.2 |
9,463.1 |
12,644.4 |
11,369.4 |
|
Cost of Revenue, Total |
13,195.4 |
12,041.2 |
9,463.1 |
12,644.4 |
11,369.4 |
|
Gross Profit |
577.3 |
556.4 |
432.3 |
500.1 |
430.9 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
288.8 |
275.9 |
218.1 |
231.1 |
193.9 |
|
Labor & Related Expense |
139.5 |
122.4 |
110.3 |
117.9 |
94.8 |
|
Total Selling/General/Administrative Expenses |
428.3 |
398.3 |
328.4 |
349.0 |
288.7 |
|
Depreciation |
12.5 |
11.6 |
11.6 |
8.3 |
6.6 |
|
Amortization of Acquisition Costs |
0.5 |
0.6 |
0.5 |
0.5 |
0.7 |
|
Depreciation/Amortization |
13.0 |
12.2 |
12.1 |
8.8 |
7.3 |
|
Impairment-Assets Held for Use |
1.0 |
0.3 |
0.8 |
0.5 |
1.5 |
|
Impairment-Assets Held for Sale |
2.8 |
0.5 |
0.2 |
5.4 |
0.9 |
|
Other Unusual Expense (Income) |
7.9 |
2.9 |
-1.7 |
1.9 |
-0.4 |
|
Unusual Expense (Income) |
11.7 |
3.8 |
-0.7 |
7.7 |
2.0 |
|
Other, Net |
- |
- |
- |
0.0 |
0.0 |
|
Other Operating Expenses, Total |
- |
- |
- |
0.0 |
0.0 |
|
Total Operating Expense |
13,648.4 |
12,455.6 |
9,802.9 |
13,009.8 |
11,667.4 |
|
|
|
|
|
|
|
|
Operating Income |
124.3 |
142.1 |
92.5 |
134.6 |
132.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-15.0 |
-13.6 |
-15.3 |
-19.8 |
-17.8 |
|
Interest Expense, Net Non-Operating |
-15.0 |
-13.6 |
-15.3 |
-19.8 |
-17.8 |
|
Interest Income -
Non-Operating |
4.2 |
4.5 |
4.5 |
4.7 |
3.6 |
|
Investment Income -
Non-Operating |
8.7 |
9.7 |
-5.9 |
5.2 |
14.0 |
|
Interest/Investment Income - Non-Operating |
12.9 |
14.1 |
-1.4 |
9.9 |
17.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
-2.1 |
0.5 |
-16.8 |
-9.9 |
-0.2 |
|
Gain (Loss) on Sale of Assets |
16.7 |
-6.2 |
-0.8 |
-1.1 |
-1.0 |
|
Other Non-Operating Income (Expense) |
7.9 |
2.6 |
6.9 |
-3.0 |
0.1 |
|
Other, Net |
7.9 |
2.6 |
6.9 |
-3.0 |
0.1 |
|
Income Before Tax |
146.8 |
138.9 |
81.8 |
120.5 |
131.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
54.5 |
49.6 |
25.5 |
44.8 |
54.1 |
|
Income After Tax |
92.3 |
89.3 |
56.3 |
75.7 |
77.5 |
|
|
|
|
|
|
|
|
Minority Interest |
-5.2 |
-2.5 |
0.2 |
-1.8 |
-6.3 |
|
Net Income Before Extraord Items |
87.1 |
86.8 |
56.5 |
73.9 |
71.2 |
|
Net Income |
87.1 |
86.8 |
56.5 |
73.9 |
71.2 |
|
|
|
|
|
|
|
|
Preferred Dividends |
-0.7 |
-1.4 |
-1.7 |
-2.1 |
-2.5 |
|
Miscellaneous Earnings Adjustment |
0.0 |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Total Adjustments to Net Income |
-0.7 |
-1.4 |
-1.8 |
-2.2 |
-2.5 |
|
Income Available to Common Excl Extraord Items |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Basic EPS Excl Extraord Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Basic/Primary EPS Incl Extraord Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
Diluted Weighted Average Shares |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Diluted EPS Excl Extraord Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Diluted EPS Incl Extraord Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Dividends per Share - Common Stock Primary Issue |
0.09 |
0.08 |
0.05 |
0.06 |
0.06 |
|
Gross Dividends - Common Stock |
11.9 |
11.0 |
10.1 |
8.0 |
8.2 |
|
Interest Expense, Supplemental |
15.0 |
13.6 |
15.3 |
19.8 |
17.8 |
|
Depreciation, Supplemental |
12.5 |
16.8 |
16.6 |
13.1 |
10.9 |
|
Total Special Items |
-4.4 |
10.5 |
0.6 |
9.3 |
3.8 |
|
Normalized Income Before Tax |
142.4 |
149.5 |
82.4 |
129.9 |
135.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-1.8 |
3.6 |
0.0 |
3.3 |
1.3 |
|
Inc Tax Ex Impact of Sp Items |
52.6 |
53.2 |
25.6 |
48.1 |
55.4 |
|
Normalized Income After Tax |
89.7 |
96.3 |
56.8 |
81.7 |
80.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
83.8 |
92.3 |
55.3 |
77.8 |
71.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.62 |
0.69 |
0.41 |
0.58 |
0.53 |
|
Diluted Normalized EPS |
0.62 |
0.69 |
0.41 |
0.58 |
0.53 |
|
Amort of Acquisition Costs, Supplemental |
0.5 |
0.6 |
0.5 |
0.5 |
0.7 |
|
Rental Expenses |
18.2 |
17.0 |
16.4 |
16.0 |
12.9 |
|
Reported Operating Profit |
136.0 |
145.8 |
91.8 |
142.2 |
134.8 |
|
Reported Ordinary Profit |
142.2 |
148.8 |
84.8 |
129.6 |
131.5 |
|
Normalized EBIT |
136.0 |
145.8 |
91.8 |
142.3 |
134.9 |
|
Normalized EBITDA |
149.1 |
163.2 |
108.9 |
155.9 |
146.5 |
|
Current Tax - Total |
57.2 |
- |
- |
- |
- |
|
Current Tax - Total |
57.2 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-2.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-2.7 |
- |
- |
- |
- |
|
Income Tax - Total |
54.5 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
2.1 |
2.0 |
1.9 |
1.7 |
1.5 |
|
Service Cost - Domestic |
3.6 |
3.4 |
3.1 |
2.8 |
2.2 |
|
Expected Return on Assets - Domestic |
-2.1 |
-1.8 |
-1.5 |
-1.9 |
-1.8 |
|
Actuarial Gains and Losses - Domestic |
4.3 |
3.4 |
3.4 |
2.3 |
1.2 |
|
Transition Costs - Domestic |
3.7 |
3.4 |
3.2 |
3.0 |
2.6 |
|
Other Pension, Net - Domestic |
1.5 |
1.6 |
1.2 |
1.7 |
2.6 |
|
Domestic Pension Plan Expense |
13.1 |
12.1 |
11.1 |
9.7 |
8.3 |
|
Total Pension Expense |
13.1 |
12.1 |
11.1 |
9.7 |
8.3 |
|
Discount Rate - Domestic |
1.80% |
2.10% |
2.20% |
2.10% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
2.1 |
2.0 |
1.9 |
1.7 |
1.5 |
|
Total Plan Service Cost |
3.6 |
3.4 |
3.1 |
2.8 |
2.2 |
|
Total Plan Expected Return |
-2.1 |
-1.8 |
-1.5 |
-1.9 |
-1.8 |
|
Total Plan Other Expense |
1.5 |
1.6 |
1.2 |
1.7 |
2.6 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
253.2 |
260.5 |
186.9 |
421.7 |
158.6 |
|
Cash and Short Term Investments |
253.2 |
260.5 |
186.9 |
421.7 |
158.6 |
|
Accounts Receivable -
Trade, Gross |
2,761.8 |
2,718.8 |
2,237.3 |
2,259.7 |
2,911.9 |
|
Provision for Doubtful
Accounts |
-5.8 |
-8.4 |
-7.9 |
-11.5 |
-14.9 |
|
Trade Accounts Receivable - Net |
2,756.0 |
2,710.3 |
2,229.3 |
2,248.2 |
2,897.0 |
|
Notes Receivable - Short Term |
0.1 |
0.1 |
0.1 |
0.1 |
0.7 |
|
Total Receivables, Net |
2,756.0 |
2,710.4 |
2,229.4 |
2,248.2 |
2,897.7 |
|
Inventories - Finished Goods |
341.4 |
380.1 |
249.0 |
565.2 |
- |
|
Total Inventory |
341.4 |
380.1 |
249.0 |
565.2 |
359.6 |
|
Deferred Income Tax - Current Asset |
13.8 |
13.9 |
11.0 |
19.1 |
13.1 |
|
Other Current Assets |
171.3 |
175.0 |
219.6 |
219.2 |
181.9 |
|
Other Current Assets, Total |
185.1 |
188.9 |
230.5 |
238.3 |
194.9 |
|
Total Current Assets |
3,535.7 |
3,539.9 |
2,895.8 |
3,473.4 |
3,610.8 |
|
|
|
|
|
|
|
|
Buildings |
141.1 |
130.2 |
105.4 |
97.1 |
103.9 |
|
Land/Improvements |
100.5 |
78.2 |
74.6 |
71.1 |
75.7 |
|
Machinery/Equipment |
102.3 |
89.9 |
78.3 |
76.4 |
75.7 |
|
Construction in
Progress |
0.9 |
7.9 |
12.7 |
7.4 |
2.9 |
|
Other
Property/Plant/Equipment |
4.3 |
4.5 |
3.4 |
1.2 |
0.0 |
|
Property/Plant/Equipment - Gross |
349.2 |
310.7 |
274.5 |
253.2 |
258.3 |
|
Accumulated Depreciation |
-129.0 |
-124.3 |
-108.3 |
-96.2 |
-98.9 |
|
Property/Plant/Equipment - Net |
220.2 |
186.5 |
166.2 |
156.9 |
159.4 |
|
Goodwill, Net |
0.1 |
0.6 |
1.0 |
1.4 |
1.8 |
|
Intangibles, Net |
18.6 |
24.1 |
27.0 |
32.7 |
20.1 |
|
LT Investment - Affiliate Companies |
85.1 |
75.2 |
61.4 |
- |
- |
|
LT Investments - Other |
95.7 |
97.5 |
86.3 |
115.5 |
143.2 |
|
Long Term Investments |
180.9 |
172.7 |
147.7 |
115.5 |
143.2 |
|
Note Receivable - Long Term |
2.5 |
6.1 |
7.5 |
12.0 |
8.0 |
|
Deferred Income Tax - Long Term Asset |
6.9 |
5.7 |
6.3 |
7.0 |
3.4 |
|
Other Long Term Assets |
81.3 |
74.8 |
62.9 |
56.9 |
60.4 |
|
Other Long Term Assets, Total |
88.2 |
80.5 |
69.1 |
63.9 |
63.8 |
|
Total Assets |
4,046.3 |
4,010.4 |
3,314.3 |
3,855.9 |
4,007.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
2,151.5 |
2,027.8 |
1,682.7 |
1,807.6 |
2,318.5 |
|
Accrued Expenses |
12.8 |
12.3 |
9.8 |
10.9 |
11.3 |
|
Notes Payable/Short Term Debt |
633.7 |
686.6 |
572.2 |
881.7 |
494.1 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
72.4 |
101.8 |
117.1 |
31.7 |
|
Customer Advances |
- |
- |
- |
- |
0.0 |
|
Income Taxes Payable |
29.8 |
44.5 |
6.0 |
25.0 |
48.4 |
|
Other Current Liabilities |
224.2 |
220.8 |
175.7 |
220.8 |
253.1 |
|
Other Current liabilities, Total |
254.0 |
265.3 |
181.6 |
245.8 |
301.6 |
|
Total Current Liabilities |
3,052.0 |
3,064.4 |
2,548.1 |
3,063.1 |
3,157.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
234.4 |
181.0 |
144.5 |
157.0 |
272.3 |
|
Total Long Term Debt |
234.4 |
181.0 |
144.5 |
157.0 |
272.3 |
|
Total Debt |
868.1 |
940.0 |
818.5 |
1,155.8 |
798.1 |
|
|
|
|
|
|
|
|
Minority Interest |
108.5 |
94.2 |
34.6 |
34.5 |
38.2 |
|
Reserves |
10.1 |
4.8 |
5.0 |
5.6 |
3.9 |
|
Pension Benefits - Underfunded |
6.1 |
4.8 |
3.9 |
3.3 |
3.1 |
|
Other Long Term Liabilities |
37.4 |
80.2 |
93.6 |
169.0 |
94.4 |
|
Other Liabilities, Total |
53.6 |
89.8 |
102.6 |
177.9 |
101.4 |
|
Total Liabilities |
3,448.5 |
3,429.4 |
2,829.8 |
3,432.6 |
3,569.1 |
|
|
|
|
|
|
|
|
Redeemable Preferred Stock |
- |
96.5 |
107.0 |
121.5 |
150.7 |
|
Redeemable Preferred Stock |
- |
96.5 |
107.0 |
121.5 |
150.7 |
|
Common Stock |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Common Stock |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Additional Paid-In Capital |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Retained Earnings (Accumulated Deficit) |
431.6 |
408.4 |
319.3 |
279.5 |
245.2 |
|
Treasury Stock - Common |
-0.9 |
-0.8 |
-0.6 |
-0.5 |
-0.4 |
|
Unrealized Gain (Loss) |
3.6 |
5.3 |
5.1 |
1.8 |
15.4 |
|
Translation Adjustment |
-48.9 |
-42.9 |
-26.6 |
-34.7 |
1.9 |
|
Other Equity, Total |
-48.9 |
-42.9 |
-26.6 |
-34.7 |
1.9 |
|
Total Equity |
597.8 |
581.1 |
484.5 |
423.2 |
438.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,046.3 |
4,010.4 |
3,314.3 |
3,855.8 |
4,007.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Total Common Shares Outstanding |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Treasury Shares - Common Stock Primary Issue |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Shares Outstanding - Preferred Stock Issue 2 |
0.4 |
0.8 |
1.0 |
1.2 |
1.5 |
|
Total Preferred Stock Outstanding |
0.4 |
0.8 |
1.0 |
1.2 |
1.5 |
|
Treasury Shares - Preferred Issue 2 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Employees |
2,231 |
2,054 |
2,030 |
2,079 |
2,129 |
|
Number of Common Shareholders |
4,312 |
4,440 |
4,866 |
5,045 |
4,992 |
|
Deferred Revenue - Current |
- |
- |
- |
- |
0.0 |
|
Total Long Term Debt, Supplemental |
269.8 |
253.4 |
246.3 |
274.1 |
304.1 |
|
Long Term Debt Maturing within 1 Year |
35.4 |
72.4 |
101.8 |
117.1 |
31.7 |
|
Long Term Debt Maturing in Year 2 |
27.5 |
0.0 |
64.2 |
96.3 |
116.6 |
|
Long Term Debt Maturing in Year 3 |
115.9 |
0.0 |
0.0 |
60.7 |
95.4 |
|
Long Term Debt Maturing in Year 4 |
91.0 |
90.5 |
0.0 |
0.0 |
60.3 |
|
Long Term Debt Maturing in Year 5 |
- |
90.5 |
80.3 |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
143.4 |
0.0 |
64.2 |
157.0 |
212.1 |
|
Long Term Debt Maturing in 4-5 Years |
91.0 |
181.0 |
80.3 |
0.0 |
60.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Capital Leases, Supplemental |
3.0 |
3.6 |
3.3 |
1.7 |
- |
|
Capital Lease Payments Due in Year 1 |
0.9 |
0.4 |
0.6 |
0.4 |
- |
|
Capital Lease Payments Due in Year 2 |
0.7 |
0.7 |
0.7 |
0.4 |
- |
|
Capital Lease Payments Due in Year 3 |
0.4 |
0.6 |
0.5 |
0.5 |
- |
|
Capital Lease Payments Due in Year 4 |
0.3 |
0.3 |
0.4 |
0.3 |
- |
|
Capital Lease Payments Due in Year 5 |
0.2 |
0.3 |
0.2 |
0.2 |
- |
|
Capital Lease Payments Due in 2-3 Years |
1.1 |
1.3 |
1.2 |
0.9 |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.5 |
0.6 |
0.6 |
0.5 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.5 |
1.3 |
0.9 |
0.0 |
- |
|
Pension Obligation - Domestic |
115.2 |
110.2 |
97.2 |
96.6 |
99.3 |
|
Plan Assets - Domestic |
110.3 |
105.9 |
89.5 |
76.8 |
83.1 |
|
Funded Status - Domestic |
-4.8 |
-4.3 |
-7.7 |
-19.8 |
-16.2 |
|
Total Funded Status |
-4.8 |
-4.3 |
-7.7 |
-19.8 |
-16.2 |
|
Discount Rate - Domestic |
1.80% |
2.10% |
2.20% |
2.10% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Prepaid Benefits - Domestic |
31.8 |
36.8 |
29.8 |
25.9 |
23.4 |
|
Accrued Liabilities - Domestic |
-6.1 |
-4.8 |
-3.9 |
-3.3 |
-3.1 |
|
Other Assets, Net - Domestic |
30.5 |
36.2 |
33.5 |
42.4 |
36.5 |
|
Net Assets Recognized on Balance Sheet |
56.2 |
68.1 |
59.4 |
65.0 |
56.8 |
|
Total Plan Obligations |
115.2 |
110.2 |
97.2 |
96.6 |
99.3 |
|
Total Plan Assets |
110.3 |
105.9 |
89.5 |
76.8 |
83.1 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
146.8 |
138.9 |
81.8 |
120.5 |
131.7 |
|
Depreciation |
20.0 |
16.8 |
16.6 |
13.1 |
10.9 |
|
Depreciation/Depletion |
20.0 |
16.8 |
16.6 |
13.1 |
10.9 |
|
Unusual Items |
-13.3 |
9.9 |
3.0 |
7.2 |
0.3 |
|
Equity in Net Earnings (Loss) |
-6.1 |
-6.7 |
0.2 |
-1.7 |
-6.7 |
|
Other Non-Cash Items |
12.6 |
5.5 |
-1.8 |
14.3 |
11.6 |
|
Non-Cash Items |
-6.7 |
8.7 |
1.5 |
19.8 |
5.2 |
|
Accounts Receivable |
38.0 |
-140.2 |
99.6 |
508.6 |
64.7 |
|
Inventories |
76.4 |
-106.7 |
335.7 |
-225.9 |
-56.9 |
|
Other Assets |
9.1 |
-17.0 |
77.3 |
25.0 |
-27.1 |
|
Accounts Payable |
77.2 |
210.7 |
-212.4 |
-468.2 |
-56.3 |
|
Other Liabilities |
-35.5 |
-58.0 |
-143.7 |
63.3 |
135.0 |
|
Other Operating Cash Flow |
-64.6 |
-16.5 |
-55.1 |
-82.5 |
-45.5 |
|
Changes in Working Capital |
100.6 |
-127.5 |
101.4 |
-179.7 |
14.1 |
|
Cash from Operating Activities |
260.7 |
36.8 |
201.3 |
-26.3 |
162.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-18.0 |
-14.4 |
-17.8 |
-30.8 |
-17.2 |
|
Capital Expenditures |
-18.0 |
-14.4 |
-17.8 |
-30.8 |
-17.2 |
|
Sale of Business |
- |
- |
- |
0.0 |
2.8 |
|
Sale of Fixed Assets |
0.8 |
2.3 |
0.3 |
3.1 |
1.6 |
|
Sale/Maturity of Investment |
8.5 |
4.7 |
13.5 |
14.7 |
7.4 |
|
Investment, Net |
- |
0.0 |
-8.0 |
-0.2 |
-3.6 |
|
Purchase of Investments |
-15.0 |
-11.3 |
-19.3 |
-16.5 |
-21.8 |
|
Other Investing Cash Flow |
-6.3 |
0.5 |
-0.1 |
-0.8 |
-2.7 |
|
Other Investing Cash Flow Items, Total |
-12.0 |
-3.9 |
-13.7 |
0.4 |
-16.2 |
|
Cash from Investing Activities |
-29.9 |
-18.2 |
-31.5 |
-30.4 |
-33.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-1.1 |
52.6 |
-0.9 |
-0.1 |
-1.1 |
|
Financing Cash Flow Items |
-1.1 |
52.6 |
-0.9 |
-0.1 |
-1.1 |
|
Cash Dividends Paid - Common |
-14.7 |
-16.6 |
-10.9 |
-12.2 |
-8.1 |
|
Total Cash Dividends Paid |
-14.7 |
-16.6 |
-10.9 |
-12.2 |
-8.1 |
|
Repurchase/Retirement
of Common |
-50.7 |
-23.5 |
-21.5 |
-29.9 |
-0.1 |
|
Common Stock, Net |
-50.7 |
-23.5 |
-21.5 |
-29.9 |
-0.1 |
|
Issuance (Retirement) of Stock, Net |
-50.7 |
-23.5 |
-21.5 |
-29.9 |
-0.1 |
|
Short Term Debt, Net |
-87.3 |
47.3 |
-355.2 |
404.8 |
-140.9 |
|
Long Term Debt Issued |
0.0 |
87.5 |
80.7 |
0.2 |
26.3 |
|
Long Term Debt
Reduction |
-79.1 |
-111.2 |
-125.1 |
-31.4 |
-2.0 |
|
Long Term Debt, Net |
-79.1 |
-23.7 |
-44.4 |
-31.2 |
24.3 |
|
Issuance (Retirement) of Debt, Net |
-166.4 |
23.6 |
-399.5 |
373.6 |
-116.6 |
|
Cash from Financing Activities |
-232.9 |
36.1 |
-432.9 |
331.3 |
-126.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-6.5 |
-7.9 |
1.6 |
-16.4 |
-0.7 |
|
Net Change in Cash |
-8.7 |
46.8 |
-261.5 |
258.2 |
1.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
257.2 |
190.2 |
436.8 |
145.8 |
126.4 |
|
Net Cash - Ending Balance |
248.5 |
237.0 |
175.3 |
404.0 |
128.2 |
|
Cash Interest Paid |
14.2 |
14.1 |
16.8 |
18.4 |
17.3 |
|
Cash Taxes Paid |
65.7 |
12.3 |
49.1 |
75.7 |
33.9 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
Total Revenue |
13,772.7 |
12,597.6 |
9,895.4 |
13,144.4 |
11,800.3 |
|
|
|
|
|
|
|
|
Cost of Sales |
13,195.4 |
12,041.2 |
9,463.1 |
12,644.4 |
11,369.4 |
|
Revers-Install Sales |
- |
- |
- |
0.0 |
0.0 |
|
Dfrd-Install Sales |
- |
- |
- |
- |
0.0 |
|
Other Selling/General/Admin. Expense |
76.2 |
- |
- |
- |
- |
|
Shipping and Storage |
194.3 |
187.0 |
139.6 |
143.3 |
119.4 |
|
Res-Doubt.Acct.Allow |
- |
- |
0.0 |
0.3 |
0.0 |
|
Directors'' compensations, salaries and |
100.2 |
87.1 |
78.6 |
85.8 |
66.8 |
|
Bonus Allowances |
11.1 |
10.0 |
8.2 |
9.1 |
8.4 |
|
Expense-Accr.Retire |
12.2 |
11.1 |
10.5 |
8.9 |
7.0 |
|
Benefits |
16.0 |
14.2 |
13.0 |
14.1 |
12.5 |
|
Depreciation |
12.5 |
11.6 |
11.6 |
8.3 |
6.6 |
|
Rent |
18.2 |
17.0 |
16.4 |
16.0 |
12.9 |
|
Amortization of Goodwill |
0.5 |
0.6 |
0.5 |
0.5 |
0.7 |
|
Other Selling & General Expenses |
- |
71.9 |
62.0 |
71.5 |
61.6 |
|
Provision for loss on compensation |
5.6 |
- |
- |
- |
- |
|
Provision for loss on litigation |
3.1 |
- |
- |
- |
- |
|
SP G on Negative Goodwill |
-0.8 |
0.0 |
-1.7 |
0.0 |
- |
|
SP Gains on Repurchase of Debts |
- |
- |
- |
0.0 |
-0.4 |
|
Provision for loss on compensation |
- |
0.0 |
- |
- |
- |
|
Provision for loss on litigation |
- |
0.0 |
- |
- |
- |
|
SP Loss on Val. of LT Inv't. Secs. |
- |
0.3 |
0.1 |
5.0 |
0.9 |
|
SP Reserve for Debts Guarantees |
- |
- |
0.0 |
1.9 |
0.0 |
|
SP Impairment Loss |
1.0 |
0.1 |
0.8 |
0.5 |
1.5 |
|
SP Loss on Disaster |
0.0 |
2.3 |
0.0 |
- |
- |
|
SP L on Adj. for Changes of Acct. Asset |
0.0 |
0.6 |
0.0 |
- |
- |
|
SP L on Retire. of Fixed Assets |
0.0 |
0.2 |
0.0 |
- |
- |
|
SP Loss on val. of Golf Membership |
2.8 |
0.2 |
0.1 |
0.4 |
0.0 |
|
Total Operating Expense |
13,648.4 |
12,455.6 |
9,802.9 |
13,009.8 |
11,667.4 |
|
|
|
|
|
|
|
|
SP Gain on Sale of Fixed Assets |
16.7 |
0.0 |
0.1 |
0.0 |
0.1 |
|
SP Gain on Sale of LT Inv't. Secs. |
0.0 |
0.3 |
0.0 |
0.4 |
3.5 |
|
SP Gain on transfer of business |
- |
- |
- |
0.0 |
2.8 |
|
SP Loss on Sale of LT Inv't. Secs. |
-0.4 |
0.0 |
-2.9 |
-0.7 |
-0.3 |
|
SP Loss on Business Liquidations |
0.0 |
-5.4 |
-0.9 |
-1.1 |
-3.7 |
|
SP Sales Loss-Fixed Assets |
0.0 |
-0.8 |
0.0 |
-0.1 |
-0.2 |
|
SP Loss on Changes in Equity |
0.0 |
-0.3 |
0.0 |
- |
- |
|
NOP Interest Income |
4.2 |
4.5 |
4.5 |
4.7 |
3.6 |
|
NOP Dividend Income |
2.3 |
2.2 |
1.6 |
2.3 |
1.9 |
|
NOP Foreign Exchange Gain |
0.8 |
0.8 |
0.0 |
1.5 |
2.2 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Rent Income |
- |
- |
0.0 |
0.7 |
0.7 |
|
NOP Equity Earnings |
6.1 |
6.7 |
0.0 |
1.7 |
6.7 |
|
NOP Rev-Doubt.Acct.Allow |
5.9 |
2.2 |
4.3 |
0.0 |
- |
|
NOP Other Non-Operating Income |
6.2 |
4.7 |
8.0 |
3.2 |
7.6 |
|
NOP Interest Expenses |
-15.0 |
-13.6 |
-15.3 |
-19.8 |
-17.8 |
|
NOP Foreign Exchange Losses |
- |
0.0 |
-4.3 |
0.0 |
- |
|
NOP Equity Losses |
- |
0.0 |
-0.2 |
0.0 |
- |
|
NOP Loss-Transfer of Receivable |
-0.2 |
-0.2 |
-0.4 |
-2.2 |
-1.3 |
|
NOP Other Non-Operating Expenses |
-4.0 |
-4.2 |
-5.0 |
-4.8 |
-6.9 |
|
Net Income Before Taxes |
146.8 |
138.9 |
81.8 |
120.5 |
131.7 |
|
|
|
|
|
|
|
|
Total income taxes |
54.5 |
49.6 |
25.5 |
44.8 |
54.1 |
|
Net Income After Taxes |
92.3 |
89.3 |
56.3 |
75.7 |
77.5 |
|
|
|
|
|
|
|
|
Minority interests in income |
-5.2 |
-2.5 |
0.2 |
-1.8 |
-6.3 |
|
Net Income Before Extra. Items |
87.1 |
86.8 |
56.5 |
73.9 |
71.2 |
|
Net Income |
87.1 |
86.8 |
56.5 |
73.9 |
71.2 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Distribution for Prefer Shares |
-0.7 |
- |
- |
- |
- |
|
Preferred Dividend |
- |
-1.4 |
-1.7 |
-2.1 |
-2.5 |
|
Adjustment |
- |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Basic EPS Including ExtraOrdinary Item |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
86.4 |
85.4 |
54.8 |
71.8 |
68.7 |
|
Diluted Weighted Average Shares |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Diluted EPS Excluding ExtraOrd Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
Diluted EPS Including ExtraOrd Items |
0.64 |
0.63 |
0.41 |
0.53 |
0.51 |
|
DPS-Common Stock |
0.09 |
0.08 |
0.05 |
0.06 |
0.06 |
|
Gross Dividends - Common Stock |
11.9 |
11.0 |
10.1 |
8.0 |
8.2 |
|
Normalized Income Before Taxes |
142.4 |
149.5 |
82.4 |
129.9 |
135.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
52.6 |
53.2 |
25.6 |
48.1 |
55.4 |
|
Normalized Income After Taxes |
89.7 |
96.3 |
56.8 |
81.7 |
80.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
83.8 |
92.3 |
55.3 |
77.8 |
71.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.62 |
0.69 |
0.41 |
0.58 |
0.53 |
|
Diluted Normalized EPS |
0.62 |
0.69 |
0.41 |
0.58 |
0.53 |
|
Rental Expense |
18.2 |
17.0 |
16.4 |
16.0 |
12.9 |
|
Interest Expense |
15.0 |
13.6 |
15.3 |
19.8 |
17.8 |
|
Depreciation |
12.5 |
- |
- |
- |
- |
|
Depreciation |
- |
16.8 |
16.6 |
13.1 |
10.9 |
|
Amort of goodwill |
0.5 |
0.6 |
0.5 |
0.5 |
0.7 |
|
Income taxes-current |
57.2 |
- |
- |
- |
- |
|
Current Tax - Total |
57.2 |
- |
- |
- |
- |
|
Income taxes-deferred |
-2.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-2.7 |
- |
- |
- |
- |
|
Income Tax - Total |
54.5 |
- |
- |
- |
- |
|
Reported Operating Profit |
136.0 |
145.8 |
91.8 |
142.2 |
134.8 |
|
Reported Ordinary Profit |
142.2 |
148.8 |
84.8 |
129.6 |
131.5 |
|
Service Cost |
3.6 |
3.4 |
3.1 |
2.8 |
2.2 |
|
Interest Cost |
2.1 |
2.0 |
1.9 |
1.7 |
1.5 |
|
Expected Return on Plan Assets |
-2.1 |
-1.8 |
-1.5 |
-1.9 |
-1.8 |
|
Pension Exp. due to Acct. Changes |
3.7 |
3.4 |
3.2 |
3.0 |
2.6 |
|
Actuarial Gains and Losses |
4.3 |
3.4 |
3.4 |
2.3 |
1.2 |
|
Pension Plan Exps. - Compendium Method |
1.5 |
1.6 |
1.2 |
1.7 |
2.6 |
|
Domestic Pension Plan Expense |
13.1 |
12.1 |
11.1 |
9.7 |
8.3 |
|
Total Pension Expense |
13.1 |
12.1 |
11.1 |
9.7 |
8.3 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.80% |
- |
- |
- |
- |
|
Discount Rate |
- |
2.10% |
2.20% |
2.10% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
2.00% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
2.00% |
2.00% |
2.50% |
2.50% |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Deposit |
253.2 |
260.5 |
186.9 |
421.7 |
158.6 |
|
Notes and accounts receivable-trade |
2,761.8 |
2,718.8 |
2,237.3 |
2,259.7 |
2,911.9 |
|
Lease receivables and investment assets |
55.7 |
70.9 |
138.4 |
85.8 |
0.0 |
|
Inventories |
- |
- |
- |
- |
359.6 |
|
Inventories-merchandise&finished goods |
341.4 |
380.1 |
249.0 |
565.2 |
- |
|
Deferred Income Taxes (Current) |
13.8 |
13.9 |
11.0 |
19.1 |
13.1 |
|
Short-term loans receivable |
0.1 |
0.1 |
0.1 |
0.1 |
0.7 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Curr.Asset |
115.6 |
104.1 |
81.1 |
133.4 |
181.9 |
|
Doubtful Account |
-5.8 |
-8.4 |
-7.9 |
-11.5 |
-14.9 |
|
Total Current Assets |
3,535.7 |
3,539.9 |
2,895.8 |
3,473.4 |
3,610.8 |
|
|
|
|
|
|
|
|
Buildings & Structures, Gross |
141.1 |
130.2 |
105.4 |
97.1 |
103.9 |
|
Accumulated depreciation |
-60.9 |
-58.9 |
-50.8 |
-45.1 |
-45.4 |
|
Machinery, equipment and vehicles |
88.9 |
78.1 |
67.7 |
66.5 |
65.8 |
|
Accumulated depreciation |
-56.7 |
-55.0 |
-48.9 |
-43.7 |
-46.0 |
|
Tools, furniture and fixtures |
13.5 |
11.9 |
10.5 |
9.9 |
9.9 |
|
Accumulated depreciation |
-9.8 |
-9.2 |
-8.0 |
-7.3 |
-7.5 |
|
Land |
100.5 |
78.2 |
74.6 |
71.1 |
75.7 |
|
Lease assets, gross |
4.3 |
4.5 |
3.4 |
1.2 |
0.0 |
|
Accumulated depreciation |
-1.6 |
-1.2 |
-0.6 |
-0.1 |
0.0 |
|
Construction-In-Progress |
0.9 |
7.9 |
12.7 |
7.4 |
2.9 |
|
Software |
14.7 |
19.2 |
21.4 |
26.5 |
15.7 |
|
Goodwill |
0.1 |
0.6 |
1.0 |
1.4 |
1.8 |
|
Other Intangible |
3.9 |
4.9 |
5.6 |
6.2 |
4.4 |
|
other lt invest |
95.7 |
- |
- |
- |
- |
|
Long-Term Investment in Securities |
- |
97.5 |
86.3 |
115.5 |
143.2 |
|
Invt Secs Noncons, Asc, Affd Cos |
62.8 |
- |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
22.3 |
- |
- |
- |
- |
|
Equity secs.-nonconsolidated affil. |
- |
60.5 |
48.9 |
- |
- |
|
Long-term loans receivable |
2.5 |
2.8 |
2.7 |
3.0 |
2.3 |
|
LT Notes Receivable |
- |
- |
- |
- |
5.6 |
|
Claims bankruptcy & others |
- |
3.3 |
4.8 |
9.0 |
- |
|
Deferred tax assets |
6.9 |
5.7 |
6.3 |
7.0 |
3.4 |
|
Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
87.8 |
- |
- |
- |
- |
|
Other Assets |
- |
80.6 |
69.9 |
68.4 |
72.2 |
|
Inv't partnership-nonconsol.affil. |
- |
14.7 |
12.5 |
- |
- |
|
Doubtful Account |
-6.5 |
-5.8 |
-7.1 |
-11.5 |
-11.8 |
|
Other Plant/machinery, Net |
0.0 |
- |
- |
- |
- |
|
Other Plant/machinery, Net |
0.0 |
- |
- |
- |
- |
|
Other PPE under Capital Lease, Net |
0.0 |
- |
- |
- |
- |
|
other ppe |
0.0 |
- |
- |
- |
- |
|
Total Assets |
4,046.3 |
4,010.4 |
3,314.3 |
3,855.9 |
4,007.1 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
2,151.5 |
2,027.8 |
1,682.7 |
1,807.6 |
2,318.5 |
|
Electronically recorded obligations-oper |
85.5 |
52.1 |
6.8 |
- |
- |
|
Short-term loans payable |
633.7 |
686.6 |
572.2 |
881.7 |
494.1 |
|
LT borrowings (current) |
- |
72.4 |
101.8 |
117.1 |
31.7 |
|
Current debt of trade receivables |
35.4 |
63.7 |
100.5 |
95.6 |
42.5 |
|
Tax Payable |
29.8 |
44.5 |
6.0 |
25.0 |
48.4 |
|
Bonus Allowances |
12.8 |
12.3 |
9.8 |
10.9 |
11.3 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Deferred Profit |
- |
- |
- |
- |
0.0 |
|
Other Curr. Liab |
103.3 |
104.9 |
68.4 |
125.2 |
210.6 |
|
Total Current Liabilities |
3,052.0 |
3,064.4 |
2,548.1 |
3,063.1 |
3,157.1 |
|
|
|
|
|
|
|
|
Payables Under Fluidity Trade Receivable |
52.3 |
- |
- |
- |
- |
|
Long-term loans payable |
182.1 |
181.0 |
144.5 |
157.0 |
272.3 |
|
Total Long Term Debt |
234.4 |
181.0 |
144.5 |
157.0 |
272.3 |
|
|
|
|
|
|
|
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Current debt of trade receivables |
- |
40.8 |
62.9 |
148.8 |
66.4 |
|
Reserve for Retirement Benefit(accrued) |
6.1 |
4.8 |
3.9 |
3.3 |
3.1 |
|
Provision for loss on compensation |
5.4 |
- |
- |
- |
- |
|
Provision for loss on litigation |
3.0 |
- |
- |
- |
- |
|
Provision for loss on compensation |
- |
0.0 |
- |
- |
- |
|
Res. for Guarantee Oblig.(Non-Current) |
1.7 |
4.8 |
5.0 |
5.5 |
2.0 |
|
Provision for loss on litigation |
- |
0.0 |
- |
- |
- |
|
Res. for Liquid. of Business |
- |
- |
0.0 |
0.1 |
1.9 |
|
Other Long-Term Liabilities |
37.4 |
39.4 |
30.7 |
20.2 |
28.0 |
|
Minor. Interest |
108.5 |
94.2 |
34.6 |
34.5 |
38.2 |
|
Total Liabilities |
3,448.5 |
3,429.4 |
2,829.8 |
3,432.6 |
3,569.1 |
|
|
|
|
|
|
|
|
Capital stock |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Preferred Stock B |
- |
96.5 |
107.0 |
121.5 |
150.7 |
|
Total capital surpluses |
106.2 |
57.3 |
40.1 |
27.8 |
12.6 |
|
Total retained earnings |
431.6 |
408.4 |
319.3 |
279.5 |
245.2 |
|
Treasury Stock |
-0.9 |
-0.8 |
-0.6 |
-0.5 |
-0.4 |
|
Valuation difference on available-for-sa |
4.1 |
5.0 |
4.4 |
0.6 |
13.0 |
|
Deferred Hedge Gain/Loss |
-0.6 |
0.4 |
0.7 |
1.2 |
2.4 |
|
Translate Adjust |
-48.9 |
-42.9 |
-26.6 |
-34.7 |
1.9 |
|
Total Equity |
597.8 |
581.1 |
484.5 |
423.2 |
438.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
4,046.3 |
4,010.4 |
3,314.3 |
3,855.8 |
4,007.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
Total Common Shares Outstanding |
134.5 |
134.5 |
134.6 |
134.6 |
134.6 |
|
T/S-Common Stock |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
S/O-Preferred Stock B |
0.4 |
0.8 |
1.0 |
1.2 |
1.5 |
|
Total Preferred Shares Outstanding |
0.4 |
0.8 |
1.0 |
1.2 |
1.5 |
|
T/S-Preferred Stock B |
0.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Revenue - Current |
- |
- |
- |
- |
0.0 |
|
Full-Time Employees |
2,231 |
2,054 |
2,030 |
2,079 |
2,129 |
|
Total Number of Shareholders |
4,312 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
4,440 |
4,866 |
5,045 |
4,992 |
|
Division And End Of Current Period Remai |
35.4 |
- |
- |
- |
- |
|
LT Debts<1Yr. |
0.0 |
72.4 |
101.8 |
117.1 |
31.7 |
|
Oth Intt Br Dbt Matg ovr a Yr wthn 2 Yr |
27.5 |
- |
- |
- |
- |
|
LT Debts<2Yr. |
- |
0.0 |
64.2 |
96.3 |
116.6 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
91.0 |
- |
- |
- |
- |
|
Oth Intt Br Dbt Matg ovr 2 Yr wthn 3 Yr |
24.8 |
- |
- |
- |
- |
|
LT Debts<3Yr. |
- |
0.0 |
0.0 |
60.7 |
95.4 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
91.0 |
- |
- |
- |
- |
|
LT Debts<4Yr. |
- |
90.5 |
0.0 |
0.0 |
60.3 |
|
LT Debts<5Yr. |
- |
90.5 |
80.3 |
0.0 |
0.0 |
|
LT dent remaining |
0.0 |
- |
- |
- |
- |
|
LT Debts Remaining |
- |
- |
0.0 |
0.0 |
0.0 |
|
Total Long Term Debt, Supplemental |
269.8 |
253.4 |
246.3 |
274.1 |
304.1 |
|
Capital Lease Payments Due Within 1 Year |
0.9 |
0.4 |
0.6 |
0.4 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
0.7 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
0.7 |
0.7 |
0.4 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
0.4 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
- |
0.6 |
0.5 |
0.5 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.3 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
0.3 |
0.4 |
0.3 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.2 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
0.3 |
0.2 |
0.2 |
- |
|
capital lease remaining |
0.5 |
- |
- |
- |
- |
|
Capital Lease - Remaining Maturities |
- |
1.3 |
0.9 |
0.0 |
- |
|
Total Capital Leases |
3.0 |
3.6 |
3.3 |
1.7 |
- |
|
Pension Obligation |
115.2 |
110.2 |
97.2 |
96.6 |
99.3 |
|
Fair Value of Plan Assets |
110.3 |
105.9 |
89.5 |
76.8 |
83.1 |
|
Funded Status |
-4.8 |
-4.3 |
-7.7 |
-19.8 |
-16.2 |
|
Total Funded Status |
-4.8 |
-4.3 |
-7.7 |
-19.8 |
-16.2 |
|
Discount Rate |
1.80% |
2.10% |
2.20% |
2.10% |
2.00% |
|
Expected Rate of Return |
2.00% |
2.00% |
2.00% |
2.50% |
2.50% |
|
Expense Unrecog. for Acct. Changes |
10.8 |
14.3 |
15.8 |
17.9 |
20.8 |
|
Unrecognized Actuarial Gains and Losses |
19.8 |
21.9 |
17.7 |
24.5 |
15.7 |
|
Prepaid Pension Benefits |
31.8 |
36.8 |
29.8 |
25.9 |
23.4 |
|
Reserve for Accrued Retirement Benefits |
-6.1 |
-4.8 |
-3.9 |
-3.3 |
-3.1 |
|
Net Assets Recognized on Balance Sheet |
56.2 |
68.1 |
59.4 |
65.0 |
56.8 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income before Taxes |
146.8 |
138.9 |
81.8 |
120.5 |
131.7 |
|
Depreciation |
20.0 |
16.8 |
16.6 |
13.1 |
10.9 |
|
Impairment Loss on Assets |
1.0 |
0.1 |
0.8 |
0.5 |
1.5 |
|
compensation loss reserve |
5.6 |
- |
- |
- |
- |
|
Provision for loss on litigation |
3.1 |
- |
- |
- |
- |
|
Increase (decrease) in allowance for dou |
-1.8 |
-2.3 |
-9.5 |
-1.6 |
0.0 |
|
Increase (decrease) in other provision |
-2.9 |
0.8 |
-1.6 |
3.0 |
-0.7 |
|
Int. and Div. Income |
-6.4 |
-6.6 |
-6.1 |
-6.9 |
-5.5 |
|
Interest Expense |
15.0 |
13.6 |
15.3 |
19.8 |
17.8 |
|
Equity in (earnings) losses of affiliate |
-6.1 |
-6.7 |
0.2 |
-1.7 |
-6.7 |
|
Loss (gain) on sales of investment secur |
0.4 |
-0.3 |
2.9 |
0.3 |
-3.2 |
|
Provision for loss on litigation |
- |
0.0 |
- |
- |
- |
|
compensation loss reserve |
- |
0.0 |
- |
- |
- |
|
Occurrence of negative goodwill |
-0.8 |
0.0 |
-1.7 |
0.0 |
- |
|
Loss (gain) on valuation of investment s |
2.8 |
0.3 |
0.1 |
5.0 |
0.9 |
|
Loss on retirement of property, plant an |
0.0 |
0.2 |
0.0 |
0.0 |
0.1 |
|
Loss (gain) on sales of property, plant |
-16.7 |
0.8 |
-0.1 |
0.0 |
0.1 |
|
L on Adj. for Changes of Acct. Asset |
0.0 |
0.6 |
0.0 |
- |
- |
|
Gains on transfer of business |
- |
- |
- |
0.0 |
-2.8 |
|
L on liquid. of business |
0.0 |
5.4 |
0.9 |
1.1 |
3.7 |
|
Loss on Disaster |
0.0 |
2.3 |
0.0 |
- |
- |
|
Loss (gain) on change in equity |
0.0 |
0.3 |
0.0 |
- |
- |
|
Loss on Valuation of Golf Memberships |
0.0 |
0.2 |
0.1 |
0.4 |
0.0 |
|
Decrease (increase) in notes and account |
38.0 |
-140.2 |
99.6 |
508.6 |
64.7 |
|
Decrease (increase) in inventories |
76.4 |
-106.7 |
335.7 |
-225.9 |
-56.9 |
|
Decrease (increase) in other current ass |
9.1 |
-17.0 |
77.3 |
25.0 |
-27.1 |
|
Increase (decrease) in notes and account |
77.2 |
210.7 |
-212.4 |
-468.2 |
-56.3 |
|
Increase (decrease) in other current lia |
-45.9 |
-30.9 |
-48.6 |
-16.4 |
71.7 |
|
Increase (decrease) in other noncurrent |
10.4 |
-27.1 |
-95.2 |
79.7 |
63.4 |
|
Increase in cash and cash equivalents fr |
9.2 |
- |
- |
- |
- |
|
Other, net |
-0.5 |
2.7 |
4.2 |
4.3 |
0.0 |
|
Interest & Dividend Received(Cash Basis) |
6.7 |
7.2 |
6.6 |
7.3 |
5.8 |
|
Interest Paid |
-14.2 |
-14.1 |
-16.8 |
-18.4 |
-17.3 |
|
Taxes Paid |
-65.7 |
-12.3 |
-49.1 |
-75.7 |
-33.9 |
|
Newly Consolidated |
- |
- |
- |
- |
0.0 |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
260.7 |
36.8 |
201.3 |
-26.3 |
162.0 |
|
|
|
|
|
|
|
|
Time Deposit Made |
-8.0 |
-6.3 |
-13.7 |
-13.8 |
-4.0 |
|
Time Deposit Matured |
8.3 |
3.6 |
12.8 |
12.1 |
0.8 |
|
Transfer of businesses |
- |
- |
- |
0.0 |
2.8 |
|
Purchase of property, plant and equipmen |
-18.0 |
-14.4 |
-17.8 |
-30.8 |
-17.2 |
|
Proceeds from sales of property, plant a |
0.8 |
2.3 |
0.3 |
3.1 |
1.6 |
|
Purchase of Long-Term Inv't in Sec. |
-7.0 |
-5.0 |
-5.6 |
-2.7 |
-17.8 |
|
Sale of Long-Term Investment in Sec. |
0.3 |
1.1 |
0.6 |
2.7 |
6.6 |
|
Outflow due to sale subsidiaries' sec. |
- |
0.0 |
-8.0 |
-0.2 |
-3.6 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Loan Made |
-0.3 |
-0.5 |
-0.3 |
-1.6 |
-0.5 |
|
Loan Recovered |
0.5 |
0.6 |
0.5 |
1.1 |
0.6 |
|
Other, net |
-6.5 |
0.4 |
-0.2 |
-0.3 |
-2.8 |
|
Cash from Investing Activities |
-29.9 |
-18.2 |
-31.5 |
-30.4 |
-33.4 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-87.3 |
47.3 |
-355.2 |
404.8 |
-140.9 |
|
Proceeds from long-term loans payable |
0.0 |
87.5 |
80.7 |
0.2 |
26.3 |
|
Repayment of long-term loans payable |
-78.5 |
-110.9 |
-124.5 |
-31.2 |
-2.0 |
|
Repayment of finance lease |
-0.6 |
-0.4 |
-0.6 |
-0.2 |
0.0 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Proceed From Minorities' Payment |
0.0 |
53.2 |
0.0 |
1.1 |
0.0 |
|
Treasury Stock Purchased |
-50.7 |
-23.5 |
-21.5 |
-29.9 |
-0.1 |
|
Cash Dividends Paid |
-14.7 |
-16.6 |
-10.9 |
-12.2 |
-8.1 |
|
Dividends Paid to Minority Shareholders |
-1.1 |
-0.6 |
-0.9 |
-1.2 |
-1.1 |
|
Cash from Financing Activities |
-232.9 |
36.1 |
-432.9 |
331.3 |
-126.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-6.5 |
-7.9 |
1.6 |
-16.4 |
-0.7 |
|
Net Change in Cash |
-8.7 |
46.8 |
-261.5 |
258.2 |
1.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
257.2 |
190.2 |
436.8 |
145.8 |
126.4 |
|
Net Cash - Ending Balance |
248.5 |
237.0 |
175.3 |
404.0 |
128.2 |
|
Cash Interest Paid |
14.2 |
14.1 |
16.8 |
18.4 |
17.3 |
|
Cash Taxes Paid |
65.7 |
12.3 |
49.1 |
75.7 |
33.9 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.67 |
|
UK Pound |
1 |
Rs.86.05 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.