MIRA
INFORM REPORT
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Report Date : |
23.10.2012 |
IDENTIFICATION DETAILS
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Name : |
TOKYO SEIMITSU CO., LTD. |
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Registered Office : |
2968-2, Ishikawa-machi, Hachioji-Shi, 181-8515 |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
28.03.1949 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
manufacture and sale of semiconductor
manufacturing equipment and precision measuring equipment |
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No. of Employees : |
1,144 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
TOKYO SEIMITSU
CO., LTD.
2968-2, Ishikawa-machi
Hachioji-Shi, 181-8515
Japan
Tel: 81-42-6421701
Fax: 81-42-6421821
Web: www.accretech.jp
synthesis
Employees: 1,144
Company Type: Public
Parent
Corporate Family: 18
Companies
Traded: Tokyo
Stock Exchange: 7729
Incorporation Date:
28-Mar-1949
Auditor: Ernst & Young Shin Nihon LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: Japanese
Yen
Annual Sales: 731.1
1
Net Income:
109.0
Total Assets:
944.9 2
Market Value: 533.4 (05-Oct-2012)
Business Description
TOKYO SEIMITSU CO., LTD. is mainly engaged in the manufacture and sale
of semiconductor manufacturing equipment and precision measuring equipment. The
Semiconductor Manufacturing Equipment segment is engaged in the manufacture and
sale of processing and inspection equipment for the manufacture of
semiconductor, such as wafer probing machines and wafer dicing machines, as
well as the provision of after-sales services and the development of related
software. The Measuring Equipment segment is engaged in the manufacture and
sale of precision measuring equipment for three-dimensional (3D) vision
systems, as well as surface roundness and profile shape measuring instruments.
This segment is also engaged in the provision of after-sales services and the
development of related software. On August 1, 2012, the Company acquired the
precision blade product business from MITSUBISHI MATERIALS CORPORATION. For the
three months ended 30 June 2012, TOKYO SEIMITSU CO., LTD. revenues decreased
14% to Y11.64B. Net income decreased 47% to Y1.25B. Revenues reflect
Semiconductor Manufacturing Equipment Business segment decrease of 26% to
Y6.89B. Net income also reflects Semiconductor Manufacturing Equipment Business
segment income decrease of 44% to Y873M. Basic Earnings per Share excluding
Extraordinary Items decreased from Y57.15 to Y30.3
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2469 - Other
Specialised Machinery and Equipment Manufacturing
NACE 2002: 2924 - Manufacture
of other general purpose machinery not elsewhere classified
NAICS 2002: 333295 -
Semiconductor Machinery Manufacturing
UK SIC 2003: 2924 - Manufacture
of other general purpose machinery not elsewhere classified
UK SIC 2007: 2829 - Manufacture
of other general-purpose machinery n.e.c.
US SIC 1987: 3559 - Special
Industry Machinery, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Koichi Kawamura |
Executive President of Operation Company, Director |
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Akihiro Endo |
Senior Managing Executive Officer of Semiconductor Company, Manager of
Technology, Director |
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Masashi Hisatomi |
Co-Auditor |
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Yoshiharu Kikuchi |
Auditor |
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Makoto A Sakai |
Senior Advisor To the CEO Tyco Electronics |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
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Mergers & Acquisitions |
2 |
MITSUBISHI MATERIALS CORPORATION to Sell Businesses to TOKYO SEIMITSU
CO., LTD. |
28-Jun-2012 |
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Negative Earnings Pre-Announcement |
1 |
TOKYO SEIMITSU CO LTD Expects Extraordinary Loss for Q2 of FY Ending
March 31, 2013; Amends Mid-year and Full-year Consolidated Outlook for FY
Ending March 31, 2013 |
10-Aug-2012 |
|
Positive Earnings Pre-Announcement |
2 |
Tokyo Seimitsu Co., Ltd. Amends Consolidated Full-year Outlook for FY
2012; Amends Year-end Dividend Forecast for FY 2012 |
10-Nov-2011 |
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Debt Ratings |
1 |
R&I Reaffirms Rating on Tokyo Seimitsu Co., Ltd. at
"BBB"; Rating Outlook Stable |
2-Dec-2011 |
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* number of significant
developments within the last 12 months
News
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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
2968-2, Ishikawa-machi
Hachioji-Shi, 181-8515
Japan
Tel: 81-42-6421701
Fax: 81-42-6421821
Web: www.accretech.jp
Quote Symbol - Exchange
7729 - Tokyo Stock
Exchange
Sales JPY(mil): 57,727.3
Assets JPY(mil): 77,845.5
Employees: 1,144
Fiscal Year End: 31-Mar-2012
Industry: Miscellaneous
Capital Goods
Incorporation Date: 28-Mar-1949
Company Type: Public
Parent
Quoted Status: Quoted
Executive
President of Operation Company, Director:
Koichi Kawamura
Company Web Links
Corporate History/Profile
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Brand/Trade Names
Financial Data
Market Data
Shareholders
Subsidiaries
Key Corporate Relationships
Industry
Codes
ANZSIC 2006 Codes:
2469 - Other Specialised Machinery and Equipment Manufacturing
2299 - Other Fabricated Metal Product Manufacturing Not Elsewhere
Classified
5420 - Software Publishing
2419 - Other Professional and Scientific Equipment Manufacturing
NACE 2002 Codes:
2924 - Manufacture of other general purpose machinery not
elsewhere classified
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
7221 - Publishing of software
2862 - Manufacture of tools
NAICS 2002 Codes:
333295 - Semiconductor Machinery Manufacturing
511210 - Software Publishers
332212 - Hand and Edge Tool Manufacturing
334515 - Instrument Manufacturing for Measuring and Testing
Electricity and Electrical Signals
US SIC 1987:
3559 - Special Industry Machinery, Not Elsewhere Classified
3825 - Instruments for Measuring and Testing of Electricity and
Electrical Signals
7372 - Prepackaged Software
3423 - Hand and Edge Tools, Except Machine Tools and Handsaws
UK SIC 2003:
2924 - Manufacture of other general purpose machinery not
elsewhere classified
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
2862 - Manufacture of tools
7221 - Publishing of software
UK SIC 2007:
2829 - Manufacture of other general-purpose machinery n.e.c.
2651 - Manufacture of instruments and appliances for measuring,
testing and navigation
2573 - Manufacture of tools
5829 - Other software publishing
Business
Description
TOKYO SEIMITSU
CO., LTD. is mainly engaged in the manufacture and sale of semiconductor
manufacturing equipment and precision measuring equipment. The Semiconductor
Manufacturing Equipment segment is engaged in the manufacture and sale of
processing and inspection equipment for the manufacture of semiconductor, such
as wafer probing machines and wafer dicing machines, as well as the provision
of after-sales services and the development of related software. The Measuring
Equipment segment is engaged in the manufacture and sale of precision measuring
equipment for three-dimensional (3D) vision systems, as well as surface
roundness and profile shape measuring instruments. This segment is also engaged
in the provision of after-sales services and the development of related
software. On August 1, 2012, the Company acquired the precision blade product
business from MITSUBISHI MATERIALS CORPORATION. For the three months ended 30
June 2012, TOKYO SEIMITSU CO., LTD. revenues decreased 14% to Y11.64B. Net
income decreased 47% to Y1.25B. Revenues reflect Semiconductor Manufacturing
Equipment Business segment decrease of 26% to Y6.89B. Net income also reflects
Semiconductor Manufacturing Equipment Business segment income decrease of 44%
to Y873M. Basic Earnings per Share excluding Extraordinary Items decreased from
Y57.15 to Y30.3
More Business
Descriptions
Production of
semiconductor-manufacturing equipment and precision measuring devices
Semiconductor
& Precision Measuring Systems Mfr
Tokyo Seimitsu
Co., Ltd. (TSC) manufactures and markets semiconductor manufacturing equipments
and precision measuring systems. The company offers a wide range of
semiconductor manufacturing equipments which include wafer manufacturing
systems, CMP, wafer probing machines, polish grinders, and wafer dicing
machines. The company operates through two reportable segments namely,
Semiconductor Production equipment and Metrology. The Semiconductor Production
equipment (SPE) segment of the company provides measuring machines, surface
texture and contour measuring instruments, cylindrical form measuring
instruments, and machine control gauges. The company’s wafer manufacturing
systems are used for demounting, cleaning and storing wafers in cassette; wafer
edge grinding for enhancing the rotative precision of spindle and increase the
roughness. The polish grinder products offered include wafer thinness required
for IC cards, three-dimensional mounting technology. The company offers wafer
dicing machines and hub blades. For the fiscal year ended 2011, the company
reported revenue of JPY34,627.2m for the Semiconductor Production equipment
segment, reflecting a increase of 69.2% over revenue in 2010. The segment
accounted for 69.7% of the company’s total revenue in 2011. Metrology segment
offers wafer probing machines, wafer dicing machines, wafer inspection
machines, cmps, polish grinders, and wafer manufacturing systems. The company
also offers automatic measuring systems and industrial measuring systems. The
automatic measuring systems offered include machine control gauges, various
sensors and electric and air micrometers, high precisions digital measurement
instrument, laser interferometer and built-in measuring instruments. The
industrial measuring systemsinclude 3D coordinate measuring machines, surface
texture and contour measuring instruments, roundness and cylindrical profile
measuring instruments. For the fiscal year ended 2011, the company reported
revenue of JPY15,048.8m for the Metrology segment, reflecting a increase of
46.5% over revenue in 2010. The segment accounted for 30.3% of the company’s
total revenue in 2011. The company geographically operates in various countries
including Japan, Taiwan, Korea, China, Germany, Singapore and the US. The
company's subsidiaries include Accretech Korea.Co.,Ltd., Accretech (China) Co.,
Ltd, Accretech (Malaysia) Sdn. Bhd., Accretech (Singapore) Pte. Ltd., and
Accretech (Europe) GmbH.Geographically, the company operates from four regions,
namely, Japan, Taiwan, Korea, Others East Asia, South East Asia and Other. For
the fiscal year ended 2011, Japan accounted for 42.5% of the company's total
revenue, followed by South East Asia with13.3%, Taiwan with 11.4%, Korea with
11.2%, Other East Asia with 9.9% and Other with 11.8%.
Tokyo Seimitsu
Co., Ltd. (TSC) is a Japan-based semiconductor and precision measuring systems
manufacturing company. The product portfolio of the company includes wafer
probing machines, wafer dicing machines, wafer inspection system, polish
grinders, coordinate measuring machines, surface texture and contour measuring
instruments, roundness and cylindrical profile measuring instruments and
sensors. TSC markets its products under the brand Accretech. The company's
manufacturing plants are located in Hachioji and Tsuchiura and has operations
has operations in various countries including Japan, Taiwan, Korea, China,
Germany, Singapore and the US. The company's subsidiaries include Accretech
Korea.Co.,Ltd., Accretech (China) Co., Ltd and Accretech (Europe) GmbH. TSC is
headquartered in Tokyo, Japan.The company reported revenues of (Yen) JPY
49,676.14 million during the fiscal year ended March 2011, an increase of
61.62% over 2010. The operating profit of the company was JPY 6,340.06 million
during the fiscal year 2011, whereas the company reported an operating loss of
JPY 1,315.96 million during 2010. The net profit of the company was JPY
6,103.63 million during the fiscal year 2011, whereas the company reported a
net loss of JPY 3,512.37 million during 2010.
This major group
includes establishments engaged in manufacturing industrial and commercial
machinery and equipment and computers. Included are the manufacture of engines
and turbines; farm and garden machinery; construction, mining, and oil field
machinery; elevators and conveying equipment; hoists, cranes, monorails, and
industrial trucks and tractors; metalworking machinery; special industry
machinery; general industrial machinery; computer and peripheral equipment and
office machinery; and refrigeration and service industry machinery. Machines
powered by built-in or detachable motors ordinarily are included in this major
group.
Semiconductor and
Other Electronic Component Manufacturing
Brand/Trade Names
Accretech
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Corporate Family |
Corporate
Structure News: |
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TOKYO
SEIMITSU CO., LTD. |
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TOKYO SEIMITSU CO., LTD. |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Hachioji-Shi |
Japan |
Miscellaneous Capital Goods |
731.1 |
1,144 |
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Facility |
Tokyo |
Japan |
Advertising |
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737 |
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Subsidiary |
Mitaka, Tokyo |
Japan |
Semiconductors |
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737 |
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Facility |
Tsuchiura, Ibaraki |
Japan |
Advertising |
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737 |
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Subsidiary |
Tokyo |
Japan |
Semiconductors |
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500 |
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Subsidiary |
Tsuchiura, Ibaraki |
Japan |
Semiconductors |
141.6 |
249 |
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Subsidiary |
Petaling Jaya, Selangor |
Malaysia |
Semiconductors |
2.2 |
100 |
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Accretech
USA, Inc./ Semiconductor Manufacturing Equipment Inc. |
Division |
Austin, TX |
United States |
Miscellaneous Capital Goods |
15.1 |
75 |
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Subsidiary |
Songnam, Kyonggi-Do |
Korea, Republic of |
Semiconductors |
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41 |
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Subsidiary |
Seongnam, Gyeonggi-do |
Korea, Republic of |
Semiconductors |
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32 |
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Subsidiary |
MĂ¼nchen, Bayern |
Germany |
Semiconductors |
30.9 |
30 |
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Subsidiary |
Oakland, NJ |
United States |
Miscellaneous Capital Goods |
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20 |
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Subsidiary |
Bang Phli, Samut Prakan |
Thailand |
Semiconductors |
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11 |
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Division |
Bloomfield, MI |
United States |
Scientific and Technical Instruments |
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9 |
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Subsidiary |
Cincinnati, OH |
United States |
Scientific and Technical Instruments |
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7 |
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Subsidiary |
Gurgaon, Haryana |
India |
Business Services |
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3 |
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Subsidiary |
Tokyo |
Japan |
Software and Programming |
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Subsidiary |
Tokyo |
Japan |
Business Services |
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Competitors Report
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Company
Name |
Location |
Employees |
Ownership |
|
Advantest Corp |
Tokyo, Japan |
4,464 |
Public |
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Applied Materials, Inc. |
Santa Clara, California,
United States |
14,600 |
Public |
|
Hitachi High-Technologies
Corporation |
Tokyo, Japan |
10,340 |
Public |
|
KLA-Tencor Corporation |
Milpitas, California, United
States |
5,710 |
Public |
Executive report
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Board of
Directors |
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Chairman of the Board |
Chairman |
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President of Subsidiary, Non-Executive Director |
Director/Board Member |
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Senior Managing Executive Officer of Semiconductor Company, Manager of
Technology, Director |
Director/Board Member |
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Executive President of Operation Company, Director |
Director/Board Member |
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Executive President of Semiconductor Company, Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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President, Representative Director |
Director/Board Member |
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President of Subsidiary, Director |
Director/Board Member |
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Executive President of Measurement Company, Representative Director |
Director/Board Member |
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Executives |
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Executive President of Operation Company, Director |
President |
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Executive President of Semiconductor Company, Director |
President |
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President, Representative Director |
President |
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President of Subsidiary, Non-Executive Director |
Division Head Executive |
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Senior General Manager-Semiconductor |
Division Head Executive |
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President of Subsidiary, Director |
Division Head Executive |
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Senior Managing Executive Officer of Semiconductor Company, Manager of
Technology, Director |
Managing Director |
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Co-Auditor |
Finance Executive |
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Co-Auditor |
Finance Executive |
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Auditor |
Accounting Executive |
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Auditor |
Accounting Executive |
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Auditor |
Accounting Executive |
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Auditor |
Accounting Executive |
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Senior Advisor To the CEO Tyco Electronics |
Other |
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Significant Developments
TOKYO SEIMITSU CO LTD Expects Extraordinary Loss for Q2 of FY Ending March 31, 2013; Amends Mid-year and Full-year Consolidated Outlook for FY Ending March 31, 2013 Aug 10, 2012
TOKYO SEIMITSU CO LTD announced that it expects an extraordinary loss of JPY 2,300 million because the Company and its subsidiary, TOSEI ENGINEERING CORP. decided to withdraw from the Employees' Pension Funds for the second quarter of the fiscal year ending March 31, 2013. The Company also announced that it has reaffirmed its mid-year consolidated outlook for revenue of JPY 26,000 million, operating profit of JPY 3,200 million, ordinary profit of JPY 3,200 million, and lowered its mid-year consolidated outlook for net profit from JPY 2,800 million to JPY 500 million and earnings per share from JPY 67.93 to JPY 12.13 for the fiscal year ending March 31, 2013. The Company also has reaffirmed its full-year consolidated outlook for revenue of JPY 53,000 million, operating profit of JPY 7,000 million, ordinary profit of JPY 6,900 million, and lowered its full-year consolidated outlook for net profit from JPY 5,600 million to JPY 2,700 million and earnings per share from JPY 135.86 to JPY 65.50 for the fiscal year ending March 31, 2013. The Company lowered its mid-year and full-year consolidated outlook for net profit mainly due to recorded extraordinary loss. According to I/B/E/S Estimates, analysts on average are expecting the Company to report full-year revenue of JPY 56,600 million, operating profit of JPY 8,530 million and net profit of JPY 6,510 million.
MITSUBISHI MATERIALS CORPORATION to Sell Businesses to TOKYO SEIMITSU CO., LTD. Jun 28, 2012
MITSUBISHI MATERIALS CORPORATION announced that it will sell the precise blade product related businesses to TOKYO SEIMITSU CO., LTD., effective August 1, 2012.
Tokyo Seimitsu Co., Ltd. to Acquire Precision Blade Business from MITSUBISHI MATERIALS CORPORATION Feb 02, 2012
Tokyo Seimitsu Co., Ltd. announced that it will acquire the precision blade product business from MITSUBISHI MATERIALS CORPORATION, effective July 1, 2012.
R&I Reaffirms Rating on Tokyo Seimitsu Co., Ltd. at "BBB"; Rating Outlook Stable Dec 02, 2011
Rating and Investment Information, Inc. (R&I) announced that it has reaffirmed the rating on Tokyo Seimitsu Co., Ltd. at "BBB". The rating outlook is stable.
Tokyo Seimitsu Co., Ltd. Amends Consolidated Full-year Outlook for FY 2012; Amends Year-end Dividend Forecast for FY 2012 Nov 10, 2011
Tokyo Seimitsu Co., Ltd. announced that it has amended the consolidated full-year outlook for revenue at JPY 54,500 million, but has raised the consolidated full-year outlook for operating profit from JPY 7,000 million to JPY 8,200 million, ordinary profit from JPY 6,600 million to JPY 8,000 million, net profit from JPY 6,200 million to JPY 7,800 million and earning per share from JPY 150.42 to JPY 189.23 for the fiscal year ending March 31, 2012. The positive outlook is mainly due to decrease of raw material costs. The Company has also amended the year-end dividend forecast from an undetermined value, disclosed on August 12, 2011, to JPY 8 per share, for the fiscal year ending March 31, 2012. According to I/B/E/S Estimates, analysts on average were expecting the Company to report full-year revenue of JPY 54.78 billion, operating profit of JPY 7.85 billion and net income of JPY 7.00 billion.
Tokyo Seimitsu
Co., Ltd. Raises Consolidated Mid-year Outlook for FY 2012 Oct 26, 2011
Tokyo Seimitsu
Co., Ltd. announced that it has raised its consolidated mid-year outlook for revenue
from JPY 30,700 million to JPY 32,300 million, operating profit from JPY 4,700
million to JPY 6,200 million, ordinary profit from JPY 4,600 million to JPY
6,100 million, net profit from JPY 4,400 million to JPY 5,900 million and
earning per share from JPY 106.75 to JPY 143.14, for the fiscal year ending
March 2012. The Company raised the outlook due to the increased sales and the
cost reduction.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst & Young
Shin Nihon LLC |
Toho Audit
Corporation |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
731.1 |
579.7 |
330.7 |
455.2 |
803.3 |
|
Revenue |
731.1 |
579.7 |
330.7 |
455.2 |
803.3 |
|
Total Revenue |
731.1 |
579.7 |
330.7 |
455.2 |
803.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
495.8 |
399.2 |
285.6 |
400.4 |
592.8 |
|
Cost of Revenue, Total |
495.8 |
399.2 |
285.6 |
400.4 |
592.8 |
|
Gross Profit |
235.2 |
180.5 |
45.1 |
54.9 |
210.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
66.1 |
61.1 |
41.2 |
74.1 |
68.3 |
|
Labor & Related Expense |
27.4 |
23.2 |
17.2 |
27.1 |
29.0 |
|
Advertising Expense |
- |
- |
- |
- |
14.0 |
|
Total Selling/General/Administrative Expenses |
93.5 |
84.3 |
58.4 |
101.2 |
111.2 |
|
Research & Development |
14.6 |
14.4 |
- |
- |
4.4 |
|
Amortization of Acquisition Costs |
4.2 |
3.9 |
3.6 |
3.3 |
3.4 |
|
Depreciation/Amortization |
4.2 |
3.9 |
3.6 |
3.3 |
3.4 |
|
Litigation |
- |
- |
- |
- |
0.0 |
|
Impairment-Assets Held for Use |
- |
0.0 |
1.5 |
0.0 |
- |
|
Impairment-Assets Held for Sale |
0.5 |
4.2 |
0.0 |
0.0 |
0.7 |
|
Other Unusual Expense (Income) |
-3.7 |
-0.3 |
-4.2 |
42.1 |
0.7 |
|
Unusual Expense (Income) |
-3.1 |
4.0 |
-2.7 |
42.1 |
1.4 |
|
Total Operating Expense |
605.1 |
505.7 |
344.9 |
546.9 |
713.3 |
|
|
|
|
|
|
|
|
Operating Income |
126.0 |
74.0 |
-14.2 |
-91.7 |
90.0 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-4.5 |
-6.3 |
-5.4 |
-3.8 |
-2.1 |
|
Interest Expense, Net Non-Operating |
-4.5 |
-6.3 |
-5.4 |
-3.8 |
-2.1 |
|
Interest Income -
Non-Operating |
0.2 |
0.1 |
0.2 |
0.2 |
0.5 |
|
Investment Income -
Non-Operating |
0.8 |
-3.2 |
3.6 |
3.5 |
-5.9 |
|
Interest/Investment Income - Non-Operating |
1.0 |
-3.1 |
3.8 |
3.7 |
-5.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
-3.5 |
-9.5 |
-1.6 |
0.0 |
-7.6 |
|
Gain (Loss) on Sale of Assets |
-1.7 |
10.2 |
0.0 |
-42.1 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.1 |
1.9 |
-1.7 |
-2.8 |
-1.8 |
|
Other, Net |
0.1 |
1.9 |
-1.7 |
-2.8 |
-1.8 |
|
Income Before Tax |
120.9 |
76.6 |
-17.4 |
-136.7 |
80.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
11.9 |
5.4 |
20.3 |
-25.3 |
38.5 |
|
Income After Tax |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
Net Income |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
41.2 |
41.2 |
40.6 |
40.2 |
40.2 |
|
Basic EPS Excl Extraord Items |
2.64 |
1.73 |
-0.93 |
-2.77 |
1.05 |
|
Basic/Primary EPS Incl Extraord Items |
2.64 |
1.73 |
-0.93 |
-2.77 |
1.05 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
Diluted Weighted Average Shares |
41.3 |
41.3 |
40.6 |
40.2 |
43.0 |
|
Diluted EPS Excl Extraord Items |
2.64 |
1.73 |
-0.93 |
-2.77 |
0.98 |
|
Diluted EPS Incl Extraord Items |
2.64 |
1.73 |
-0.93 |
-2.77 |
0.98 |
|
Dividends per Share - Common Stock Primary Issue |
0.20 |
0.12 |
0.00 |
0.15 |
0.61 |
|
Gross Dividends - Common Stock |
8.4 |
4.8 |
0.0 |
6.0 |
24.6 |
|
Interest Expense, Supplemental |
4.5 |
6.3 |
5.4 |
3.8 |
2.1 |
|
Depreciation, Supplemental |
25.1 |
20.9 |
22.5 |
24.4 |
19.7 |
|
Total Special Items |
2.8 |
-2.3 |
0.9 |
87.5 |
4.8 |
|
Normalized Income Before Tax |
123.7 |
74.3 |
-16.6 |
-49.2 |
85.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.1 |
-0.4 |
-0.9 |
29.5 |
0.7 |
|
Inc Tax Ex Impact of Sp Items |
11.7 |
4.9 |
19.4 |
4.2 |
39.2 |
|
Normalized Income After Tax |
112.0 |
69.3 |
-36.0 |
-53.4 |
46.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
112.0 |
69.3 |
-36.0 |
-53.4 |
46.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.72 |
1.68 |
-0.89 |
-1.33 |
1.15 |
|
Diluted Normalized EPS |
2.71 |
1.68 |
-0.89 |
-1.33 |
1.08 |
|
Amort of Acquisition Costs, Supplemental |
4.2 |
3.9 |
3.6 |
3.3 |
3.4 |
|
Advertising Expense, Supplemental |
- |
- |
- |
- |
14.0 |
|
Research & Development Exp, Supplemental |
44.9 |
51.6 |
19.0 |
60.6 |
67.0 |
|
Reported Operating Profit |
122.9 |
77.9 |
-16.9 |
-24.5 |
91.4 |
|
Reported Ordinary Profit |
117.8 |
70.4 |
-20.2 |
-28.2 |
82.0 |
|
Normalized EBIT |
122.9 |
77.9 |
-16.9 |
-49.6 |
91.4 |
|
Normalized EBITDA |
152.3 |
102.7 |
9.2 |
-21.9 |
114.5 |
|
Current Tax - Total |
6.7 |
- |
- |
- |
- |
|
Current Tax - Total |
6.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
5.1 |
- |
- |
- |
- |
|
Deferred Tax - Total |
5.1 |
- |
- |
- |
- |
|
Income Tax - Total |
11.9 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
0.9 |
1.0 |
0.9 |
1.3 |
1.2 |
|
Service Cost - Domestic |
3.1 |
3.2 |
3.6 |
4.2 |
3.4 |
|
Expected Return on Assets - Domestic |
0.2 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Actuarial Gains and Losses - Domestic |
-1.2 |
0.3 |
3.0 |
1.8 |
0.3 |
|
Other Pension, Net - Domestic |
3.5 |
2.6 |
1.6 |
- |
- |
|
Domestic Pension Plan Expense |
6.5 |
6.9 |
9.0 |
7.1 |
4.8 |
|
Total Pension Expense |
6.5 |
6.9 |
9.0 |
7.1 |
4.8 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
0.9 |
1.0 |
0.9 |
1.3 |
1.2 |
|
Total Plan Service Cost |
3.1 |
3.2 |
3.6 |
4.2 |
3.4 |
|
Total Plan Expected Return |
0.2 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Total Plan Other Expense |
3.5 |
2.6 |
1.6 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Toho Audit
Corporation |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
200.0 |
195.7 |
129.0 |
178.3 |
157.7 |
|
Cash and Short Term Investments |
200.0 |
195.7 |
129.0 |
178.3 |
157.7 |
|
Accounts Receivable -
Trade, Gross |
245.3 |
226.8 |
166.0 |
120.1 |
324.3 |
|
Provision for Doubtful
Accounts |
-2.3 |
-3.0 |
-2.2 |
-2.7 |
-0.5 |
|
Trade Accounts Receivable - Net |
243.0 |
223.8 |
163.8 |
117.3 |
323.9 |
|
Total Receivables, Net |
243.0 |
223.8 |
163.8 |
117.3 |
323.9 |
|
Inventories - Finished Goods |
17.1 |
9.6 |
10.5 |
14.5 |
40.1 |
|
Inventories - Work In Progress |
107.7 |
127.3 |
100.2 |
138.3 |
199.8 |
|
Inventories - Raw Materials |
35.1 |
33.0 |
24.8 |
29.1 |
38.2 |
|
Total Inventory |
160.0 |
169.9 |
135.5 |
181.8 |
278.1 |
|
Deferred Income Tax - Current Asset |
26.6 |
12.8 |
8.2 |
16.3 |
7.6 |
|
Other Current Assets |
6.8 |
11.0 |
9.8 |
15.0 |
12.5 |
|
Other Current Assets, Total |
33.3 |
23.7 |
17.9 |
31.3 |
20.1 |
|
Total Current Assets |
636.4 |
613.2 |
446.3 |
508.8 |
779.7 |
|
|
|
|
|
|
|
|
Buildings |
208.8 |
175.5 |
157.1 |
157.0 |
148.2 |
|
Land/Improvements |
66.7 |
66.5 |
61.2 |
58.1 |
57.9 |
|
Machinery/Equipment |
118.8 |
113.3 |
95.7 |
98.8 |
99.7 |
|
Construction in
Progress |
3.3 |
20.8 |
10.1 |
8.8 |
8.9 |
|
Other Property/Plant/Equipment |
6.6 |
19.3 |
19.7 |
21.5 |
0.0 |
|
Property/Plant/Equipment - Gross |
404.2 |
395.4 |
343.8 |
344.2 |
314.7 |
|
Accumulated Depreciation |
-188.7 |
-190.5 |
-156.9 |
-142.3 |
-124.1 |
|
Property/Plant/Equipment - Net |
215.6 |
204.9 |
186.9 |
202.0 |
190.6 |
|
Goodwill, Net |
14.1 |
18.1 |
19.6 |
21.9 |
25.1 |
|
Intangibles, Net |
2.8 |
5.2 |
6.3 |
7.5 |
7.0 |
|
LT Investment - Affiliate Companies |
- |
3.3 |
3.0 |
- |
- |
|
LT Investments - Other |
33.7 |
33.5 |
35.1 |
27.9 |
44.2 |
|
Long Term Investments |
33.7 |
36.8 |
38.1 |
27.9 |
44.2 |
|
Note Receivable - Long Term |
1.4 |
1.2 |
0.5 |
0.3 |
0.1 |
|
Deferred Income Tax - Long Term Asset |
28.5 |
46.6 |
42.3 |
45.7 |
18.5 |
|
Other Long Term Assets |
12.5 |
3.6 |
3.6 |
14.5 |
16.6 |
|
Other Long Term Assets, Total |
41.0 |
50.2 |
45.9 |
60.2 |
35.1 |
|
Total Assets |
944.9 |
929.5 |
743.6 |
828.5 |
1,081.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
117.4 |
139.6 |
87.6 |
53.4 |
196.2 |
|
Accrued Expenses |
9.0 |
7.8 |
2.7 |
2.9 |
9.1 |
|
Notes Payable/Short Term Debt |
15.8 |
15.7 |
13.9 |
97.2 |
18.1 |
|
Current Portion - Long Term Debt/Capital Leases |
39.9 |
45.7 |
45.1 |
54.6 |
167.3 |
|
Income Taxes Payable |
4.3 |
6.3 |
0.8 |
0.7 |
17.9 |
|
Deferred Income Tax - Current Liability |
1.1 |
0.8 |
0.0 |
- |
- |
|
Other Current Liabilities |
43.9 |
39.8 |
18.0 |
42.9 |
38.9 |
|
Other Current liabilities, Total |
49.2 |
46.9 |
18.9 |
43.6 |
56.8 |
|
Total Current Liabilities |
231.2 |
255.7 |
168.1 |
251.7 |
447.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
44.9 |
95.3 |
121.8 |
115.8 |
34.9 |
|
Capital Lease Obligations |
0.5 |
6.0 |
8.9 |
11.7 |
0.0 |
|
Total Long Term Debt |
45.4 |
101.3 |
130.8 |
127.6 |
34.9 |
|
Total Debt |
101.0 |
162.7 |
189.7 |
279.4 |
220.3 |
|
|
|
|
|
|
|
|
Pension Benefits - Underfunded |
20.9 |
30.1 |
26.5 |
35.5 |
40.2 |
|
Other Long Term Liabilities |
6.6 |
0.4 |
0.3 |
0.3 |
1.7 |
|
Other Liabilities, Total |
27.6 |
30.4 |
26.8 |
35.8 |
41.9 |
|
Total Liabilities |
304.1 |
387.4 |
325.7 |
415.1 |
524.2 |
|
|
|
|
|
|
|
|
Common Stock |
124.0 |
123.2 |
109.1 |
97.7 |
96.8 |
|
Common Stock |
124.0 |
123.2 |
109.1 |
97.7 |
96.8 |
|
Additional Paid-In Capital |
259.8 |
257.7 |
228.6 |
213.4 |
211.3 |
|
Retained Earnings (Accumulated Deficit) |
265.5 |
166.6 |
85.5 |
116.4 |
250.2 |
|
Treasury Stock - Common |
-1.3 |
-1.3 |
-1.2 |
-1.1 |
-1.1 |
|
Unrealized Gain (Loss) |
-1.8 |
-0.2 |
-2.1 |
-9.8 |
0.7 |
|
Translation Adjustment |
-5.4 |
-3.8 |
-2.1 |
-3.3 |
-0.4 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Equity, Total |
-5.4 |
-3.8 |
-2.1 |
-3.3 |
-0.4 |
|
Total Equity |
640.8 |
542.1 |
417.9 |
413.4 |
557.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
944.9 |
929.5 |
743.6 |
828.5 |
1,081.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
41.2 |
41.2 |
41.2 |
40.2 |
40.2 |
|
Total Common Shares Outstanding |
41.2 |
41.2 |
41.2 |
40.2 |
40.2 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
1,144 |
1,058 |
953 |
1,221 |
1,318 |
|
Number of Common Shareholders |
26,516 |
29,094 |
31,474 |
33,061 |
33,695 |
|
Total Long Term Debt, Supplemental |
83.8 |
137.4 |
163.4 |
199.0 |
204.5 |
|
Long Term Debt Maturing within 1 Year |
38.8 |
42.0 |
41.6 |
51.4 |
167.8 |
|
Long Term Debt Maturing in Year 2 |
30.3 |
33.8 |
37.3 |
37.0 |
22.3 |
|
Long Term Debt Maturing in Year 3 |
4.9 |
61.5 |
30.0 |
33.4 |
8.5 |
|
Long Term Debt Maturing in Year 4 |
4.9 |
0.0 |
54.6 |
27.8 |
4.1 |
|
Long Term Debt Maturing in Year 5 |
4.9 |
0.0 |
0.0 |
22.3 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
35.2 |
95.3 |
67.3 |
70.4 |
30.8 |
|
Long Term Debt Maturing in 4-5 Years |
9.7 |
0.0 |
54.6 |
50.1 |
4.1 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
27.1 |
1.9 |
|
Total Capital Leases, Supplemental |
1.5 |
9.7 |
12.4 |
15.4 |
- |
|
Capital Lease Payments Due in Year 1 |
1.0 |
3.7 |
3.5 |
3.7 |
- |
|
Capital Lease Payments Due in Year 2 |
0.4 |
3.6 |
3.5 |
3.3 |
- |
|
Capital Lease Payments Due in Year 3 |
0.0 |
2.3 |
3.4 |
3.3 |
- |
|
Capital Lease Payments Due in Year 4 |
0.0 |
0.0 |
2.1 |
3.2 |
- |
|
Capital Lease Payments Due in Year 5 |
0.0 |
0.0 |
0.0 |
2.0 |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.4 |
6.0 |
6.9 |
6.6 |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.0 |
0.0 |
2.1 |
5.1 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
- |
0.0 |
0.0 |
- |
|
Pension Obligation - Domestic |
43.8 |
64.1 |
56.8 |
69.0 |
73.5 |
|
Plan Assets - Domestic |
69.2 |
49.5 |
44.9 |
18.7 |
25.9 |
|
Funded Status - Domestic |
25.5 |
-14.6 |
-11.9 |
-50.3 |
-47.6 |
|
Total Funded Status |
25.5 |
-14.6 |
-11.9 |
-50.3 |
-47.6 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Accrued Liabilities - Domestic |
-19.7 |
-29.0 |
-25.3 |
-34.5 |
-39.1 |
|
Other Assets, Net - Domestic |
- |
14.4 |
13.4 |
15.8 |
8.5 |
|
Net Assets Recognized on Balance Sheet |
-19.7 |
-14.6 |
-11.9 |
-18.7 |
-30.6 |
|
Total Plan Obligations |
43.8 |
64.1 |
56.8 |
69.0 |
73.5 |
|
Total Plan Assets |
69.2 |
49.5 |
44.9 |
18.7 |
25.9 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Toho Audit
Corporation |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
120.9 |
76.6 |
-17.4 |
-136.7 |
80.6 |
|
Depreciation |
25.1 |
20.9 |
22.5 |
24.4 |
19.7 |
|
Depreciation/Depletion |
25.1 |
20.9 |
22.5 |
24.4 |
19.7 |
|
Amortization of Acquisition Costs |
4.2 |
3.9 |
3.6 |
3.3 |
3.4 |
|
Amortization |
4.2 |
3.9 |
3.6 |
3.3 |
3.4 |
|
Unusual Items |
7.7 |
-6.5 |
0.8 |
9.3 |
3.5 |
|
Other Non-Cash Items |
-5.1 |
-1.9 |
-12.5 |
8.1 |
-1.2 |
|
Non-Cash Items |
2.6 |
-8.5 |
-11.7 |
17.4 |
2.3 |
|
Accounts Receivable |
-18.6 |
-44.6 |
-39.7 |
199.2 |
63.8 |
|
Inventories |
7.9 |
-16.8 |
58.7 |
84.4 |
-6.0 |
|
Accounts Payable |
-23.3 |
40.3 |
31.6 |
-136.8 |
-30.6 |
|
Other Operating Cash Flow |
-5.4 |
16.5 |
-25.2 |
-26.8 |
-44.0 |
|
Changes in Working Capital |
-39.4 |
-4.6 |
25.4 |
120.0 |
-16.9 |
|
Cash from Operating Activities |
113.5 |
88.3 |
22.3 |
28.4 |
89.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-39.6 |
-2.0 |
-2.0 |
-28.7 |
-43.9 |
|
Purchase/Acquisition of Intangibles |
-1.0 |
-1.1 |
-0.1 |
-2.8 |
-5.3 |
|
Capital Expenditures |
-40.6 |
-3.2 |
-2.0 |
-31.5 |
-49.2 |
|
Sale of Fixed Assets |
0.2 |
11.5 |
4.1 |
0.1 |
0.6 |
|
Sale/Maturity of Investment |
0.5 |
5.0 |
11.9 |
1.0 |
0.3 |
|
Purchase of Investments |
-1.3 |
-0.7 |
-0.4 |
-1.9 |
-8.6 |
|
Other Investing Cash Flow |
-0.6 |
-0.6 |
-0.2 |
-0.1 |
0.1 |
|
Other Investing Cash Flow Items, Total |
-1.2 |
15.2 |
15.3 |
-1.0 |
-7.5 |
|
Cash from Investing Activities |
-41.8 |
12.0 |
13.3 |
-32.4 |
-56.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Financing Cash Flow Items |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash Dividends Paid - Common |
-6.8 |
-2.4 |
0.0 |
-22.0 |
-19.3 |
|
Total Cash Dividends Paid |
-6.8 |
-2.4 |
0.0 |
-22.0 |
-19.3 |
|
Sale/Issuance of
Common |
- |
0.0 |
10.8 |
0.0 |
- |
|
Common Stock, Net |
- |
0.0 |
10.8 |
0.0 |
- |
|
Options Exercised |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
10.8 |
0.0 |
0.1 |
|
Short Term Debt, Net |
- |
0.0 |
-89.3 |
77.7 |
14.9 |
|
Long Term Debt Issued |
25.3 |
0.0 |
43.0 |
144.8 |
0.0 |
|
Long Term Debt
Reduction |
-86.0 |
-48.9 |
-59.8 |
-174.4 |
-37.8 |
|
Long Term Debt, Net |
-60.7 |
-48.9 |
-16.8 |
-29.6 |
-37.8 |
|
Issuance (Retirement) of Debt, Net |
-60.7 |
-48.9 |
-106.2 |
48.1 |
-22.9 |
|
Cash from Financing Activities |
-67.5 |
-51.3 |
-95.4 |
26.1 |
-42.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.0 |
-1.7 |
-0.1 |
-3.0 |
-0.2 |
|
Net Change in Cash |
3.3 |
47.3 |
-59.8 |
19.1 |
-9.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
205.1 |
141.7 |
189.2 |
155.9 |
147.0 |
|
Net Cash - Ending Balance |
208.4 |
189.0 |
129.4 |
175.0 |
137.0 |
|
Cash Interest Paid |
4.7 |
6.6 |
5.7 |
2.8 |
2.1 |
|
Cash Taxes Paid |
7.6 |
-0.8 |
3.2 |
25.8 |
40.7 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Toho Audit
Corporation |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Total net sales |
731.1 |
579.7 |
330.7 |
455.2 |
803.3 |
|
Total Revenue |
731.1 |
579.7 |
330.7 |
455.2 |
803.3 |
|
|
|
|
|
|
|
|
Total cost of sales |
495.8 |
399.2 |
285.6 |
375.3 |
592.8 |
|
Other Selling/General/Admin. Expense |
0.0 |
- |
- |
- |
- |
|
Other Selling/General/Admin. Expense |
40.5 |
- |
- |
- |
- |
|
Other Selling/General/Admin. Expense |
13.5 |
- |
- |
- |
- |
|
Selling General And Administrative Expen |
0.3 |
- |
- |
- |
- |
|
Selling General And Administrative Expen |
0.4 |
- |
- |
- |
- |
|
Payroll(selling) |
19.7 |
16.4 |
12.2 |
19.3 |
20.2 |
|
Allow. for bonus(selling) |
1.0 |
1.0 |
0.3 |
0.4 |
0.8 |
|
Res. for Accrue.retire.bene(selling) |
- |
0.6 |
0.9 |
1.0 |
0.6 |
|
Sales commission expenses(selling) |
11.7 |
11.9 |
- |
- |
24.3 |
|
Prov. for doubtful account(selling) |
0.4 |
0.6 |
- |
- |
- |
|
Amort. of goodwill (sellingl) |
- |
- |
- |
- |
0.5 |
|
Other selling expense |
- |
39.7 |
30.0 |
- |
30.5 |
|
Sales promotion expenses(general) |
- |
- |
- |
- |
14.0 |
|
Payroll(general) |
5.6 |
4.3 |
3.2 |
5.8 |
6.6 |
|
Allow. for bonus(general) |
- |
0.3 |
0.1 |
0.1 |
0.3 |
|
Director Allow. for bonus(general) |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Res.retire.bene. |
0.2 |
0.4 |
0.4 |
0.3 |
0.2 |
|
Res.dir.'s retire.(general) |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Amort. of goodwill (general) |
4.2 |
3.9 |
3.6 |
3.3 |
2.9 |
|
Experiment & Research exp.(general) |
14.6 |
14.4 |
- |
- |
- |
|
Research & Develop. expense(general) |
- |
- |
- |
- |
4.4 |
|
Other general expense |
- |
8.9 |
11.3 |
74.1 |
13.5 |
|
Gain on revision of retirement benefit p |
-3.5 |
- |
- |
- |
- |
|
SP G on rev. of st. subscrip. rights |
- |
0.0 |
-2.0 |
0.0 |
-0.1 |
|
SP Reserve for business losses |
- |
0.0 |
-2.4 |
0.0 |
- |
|
SP Sales Tax Refunded |
- |
- |
- |
- |
0.0 |
|
SP Other Special Gains |
-0.1 |
-0.9 |
0.0 |
- |
0.0 |
|
SP Reval.-Inv. Security |
0.5 |
4.2 |
0.0 |
0.0 |
0.7 |
|
SP Loss on disaster |
- |
0.6 |
0.0 |
- |
- |
|
SP Assets impairment losses |
- |
0.0 |
1.5 |
0.0 |
- |
|
SP Litigation Related |
- |
- |
- |
- |
0.0 |
|
SP Reval.-Inventory |
- |
- |
0.0 |
25.1 |
0.0 |
|
SP L on affiliates business |
- |
- |
0.0 |
25.2 |
0.0 |
|
SP Reserve for investment loss |
- |
- |
- |
0.0 |
0.7 |
|
SP Other Special Losses |
- |
0.0 |
0.2 |
17.0 |
0.0 |
|
NOP L on reitre. inventories |
- |
- |
- |
- |
0.0 |
|
Total Operating Expense |
605.1 |
505.7 |
344.9 |
546.9 |
713.3 |
|
|
|
|
|
|
|
|
Loss On Sales And Retirement Of Noncurre |
-1.7 |
- |
- |
- |
- |
|
Loss on sales of land |
0.0 |
- |
- |
- |
- |
|
SP Gain-Land Sold |
- |
10.2 |
0.0 |
- |
- |
|
SP SP Gain Sale Inv.Secs. |
- |
0.0 |
0.0 |
0.0 |
- |
|
SP Loss on sales of land |
- |
0.0 |
- |
- |
- |
|
SP L on liquid. of business |
- |
- |
0.0 |
-41.3 |
0.0 |
|
NOP Interest Income |
0.2 |
0.1 |
0.2 |
0.2 |
0.5 |
|
NOP Dividend Income |
0.8 |
0.6 |
1.3 |
2.2 |
3.6 |
|
Gain On Bad Debts Recovered |
3.4 |
- |
- |
- |
- |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
Loss on cancel of lease contracts |
-4.7 |
- |
- |
- |
- |
|
NOP Gain on bad debts recovered |
- |
0.0 |
- |
- |
- |
|
NOP Currency Gains |
- |
0.0 |
0.9 |
1.3 |
0.0 |
|
NOP Employment adjust. subsidy income |
- |
0.0 |
1.5 |
0.0 |
- |
|
NOP Rev G for doubtful acct. reserve |
- |
0.8 |
0.8 |
0.0 |
- |
|
NOP Income Tax Refunded |
- |
- |
- |
- |
0.0 |
|
NOP Other Income |
2.0 |
1.6 |
1.9 |
0.6 |
0.7 |
|
NOP Interest Expenses |
-4.5 |
-6.3 |
-5.4 |
-3.8 |
-2.1 |
|
NOP Financing expenses |
- |
0.0 |
-3.0 |
-2.6 |
0.0 |
|
NOP Foreign exchange losses |
- |
-3.8 |
0.0 |
0.0 |
-9.5 |
|
NOP Loss on cancel of lease contracts |
- |
0.0 |
- |
- |
- |
|
NOP Loss Sale/Retire Fixed Assets |
- |
- |
0.0 |
-0.8 |
0.0 |
|
NOP Other Expenses |
-0.6 |
-0.5 |
-1.5 |
-0.8 |
-2.5 |
|
Net Income Before Taxes |
120.9 |
76.6 |
-17.4 |
-136.7 |
80.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
11.9 |
5.4 |
20.3 |
-25.3 |
38.5 |
|
Net Income After Taxes |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
Net Income |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
|
|
|
|
|
|
|
Earning Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Directors' Bonus |
- |
- |
- |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
41.2 |
41.2 |
40.6 |
40.2 |
40.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
2.64 |
1.73 |
-0.93 |
-2.77 |
1.05 |
|
Basic EPS Including ExtraOrdinary Item |
2.64 |
1.73 |
-0.93 |
-2.77 |
1.05 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
109.0 |
71.2 |
-37.8 |
-111.4 |
42.1 |
|
Diluted Weighted Average Shares |
41.3 |
41.3 |
40.6 |
40.2 |
43.0 |
|
Diluted EPS Excluding ExtraOrd Items |
2.64 |
1.73 |
-0.93 |
-2.77 |
0.98 |
|
Diluted EPS Including ExtraOrd Items |
2.64 |
1.73 |
-0.93 |
-2.77 |
0.98 |
|
DPS-Common Stock |
0.20 |
0.12 |
0.00 |
0.15 |
0.61 |
|
Gross Dividends - Common Stock |
8.4 |
4.8 |
0.0 |
6.0 |
24.6 |
|
Normalized Income Before Taxes |
123.7 |
74.3 |
-16.6 |
-49.2 |
85.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
11.7 |
4.9 |
19.4 |
4.2 |
39.2 |
|
Normalized Income After Taxes |
112.0 |
69.3 |
-36.0 |
-53.4 |
46.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
112.0 |
69.3 |
-36.0 |
-53.4 |
46.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.72 |
1.68 |
-0.89 |
-1.33 |
1.15 |
|
Diluted Normalized EPS |
2.71 |
1.68 |
-0.89 |
-1.33 |
1.08 |
|
Interest Expense |
4.5 |
6.3 |
5.4 |
3.8 |
2.1 |
|
Amortization of Goodwill - footnote |
4.2 |
- |
- |
- |
- |
|
Amort of Goodwill |
- |
3.9 |
3.6 |
3.3 |
3.4 |
|
Experiment & Research exp. |
- |
14.4 |
- |
- |
- |
|
R & D Expenses (COGS&BGS) |
44.9 |
37.2 |
19.0 |
60.6 |
- |
|
Sales promotion expenses |
- |
- |
- |
- |
14.0 |
|
Research & Development Expenses(SGA) |
- |
- |
- |
- |
4.4 |
|
Research & Development Expenses(COGS) |
- |
- |
- |
- |
62.6 |
|
Amort of Tangible Assets-Current Portion |
25.1 |
- |
- |
- |
- |
|
Depreciation |
- |
20.9 |
22.5 |
24.4 |
19.7 |
|
Income taxes-current |
6.7 |
- |
- |
- |
- |
|
Current Tax - Total |
6.7 |
- |
- |
- |
- |
|
Income taxes-deferred |
5.1 |
- |
- |
- |
- |
|
Deferred Tax - Total |
5.1 |
- |
- |
- |
- |
|
Income Tax - Total |
11.9 |
- |
- |
- |
- |
|
Reported Operating Profit |
122.9 |
77.9 |
-16.9 |
-24.5 |
91.4 |
|
Reported Ordinary Profit |
117.8 |
70.4 |
-20.2 |
-28.2 |
82.0 |
|
Service Cost |
3.1 |
3.2 |
3.6 |
4.2 |
3.4 |
|
Interest Cost |
0.9 |
1.0 |
0.9 |
1.3 |
1.2 |
|
Expected Return on Plan Asset |
0.2 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Actuarial Gains and Losses |
-1.2 |
0.3 |
3.0 |
1.8 |
0.3 |
|
Welfare Pension Contribution Expense |
3.5 |
2.6 |
1.6 |
- |
- |
|
Domestic Pension Plan Expense |
6.5 |
6.9 |
9.0 |
7.1 |
4.8 |
|
Total Pension Expense |
6.5 |
6.9 |
9.0 |
7.1 |
4.8 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
2.50% |
2.50% |
2.50% |
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 |
Ernst &
Young Shin Nihon LLC |
Toho Audit
Corporation |
Ernst &
Young LLP |
Ernst & Young
LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposit |
200.0 |
195.7 |
129.0 |
178.3 |
157.7 |
|
Notes and accounts receivable-trade |
245.3 |
226.8 |
166.0 |
120.1 |
324.3 |
|
Inventories - merchandise&finished goods |
17.1 |
9.6 |
10.5 |
14.5 |
40.1 |
|
Inventories - work-in-process |
107.7 |
127.3 |
100.2 |
138.3 |
199.8 |
|
Inventories - raw materials&supplies |
35.1 |
33.0 |
24.8 |
29.1 |
38.2 |
|
Defer. Tax Asset |
26.6 |
12.8 |
8.2 |
16.3 |
7.6 |
|
Other Current |
6.8 |
11.0 |
9.8 |
15.0 |
12.5 |
|
Doubt Debt Allow |
-2.3 |
-3.0 |
-2.2 |
-2.7 |
-0.5 |
|
Total Current Assets |
636.4 |
613.2 |
446.3 |
508.8 |
779.7 |
|
|
|
|
|
|
|
|
Bldg & Structure |
208.8 |
175.5 |
157.1 |
157.0 |
148.2 |
|
Accum. depr - bldg&struc |
-90.6 |
-86.8 |
-70.9 |
-66.4 |
-59.6 |
|
Accumulated impairment loss-bldg&struc |
- |
0.0 |
-1.4 |
0.0 |
- |
|
Machinery, equipment and vehicles |
73.8 |
68.4 |
57.8 |
60.8 |
62.0 |
|
Accum. depr - machin&vehicles |
-54.2 |
-54.1 |
-43.3 |
-38.1 |
-34.7 |
|
Tools, furniture and fixtures |
45.0 |
45.0 |
37.9 |
38.1 |
37.8 |
|
Accum. depr - tools, furn, fixtur |
-38.7 |
-39.6 |
-33.5 |
-31.5 |
-29.7 |
|
Accum. impairment loss-tools, furn, fixt |
- |
0.0 |
0.0 |
0.0 |
- |
|
Land |
66.7 |
66.5 |
61.2 |
58.1 |
57.9 |
|
Lease assets |
6.6 |
19.3 |
19.7 |
21.5 |
0.0 |
|
Accum. depr- lease assets |
-5.3 |
-10.0 |
-7.7 |
-6.3 |
0.0 |
|
Constr In Progr |
3.3 |
20.8 |
10.1 |
8.8 |
8.9 |
|
Goodwill |
14.1 |
18.1 |
19.6 |
21.9 |
25.1 |
|
Other Intangible |
2.8 |
5.2 |
6.3 |
7.5 |
7.0 |
|
Equity secs.-nonconsolidated affil. |
- |
3.0 |
2.5 |
- |
- |
|
Investm Security |
33.7 |
33.5 |
35.1 |
27.9 |
44.2 |
|
Long-term loans receivable |
1.4 |
1.2 |
0.5 |
0.3 |
0.1 |
|
Deferred tax assets |
28.5 |
46.6 |
42.3 |
45.7 |
18.5 |
|
Inv't partnership-nonconsol.affil. |
- |
0.3 |
0.5 |
- |
- |
|
Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Asset |
14.0 |
3.8 |
10.6 |
22.3 |
17.7 |
|
Investment loss reserve |
- |
- |
- |
0.0 |
-0.8 |
|
Doubt Debt Allow |
-1.5 |
-0.2 |
-7.0 |
-7.8 |
-0.2 |
|
Adjustm |
- |
- |
- |
- |
0.0 |
|
Other Buildings, Net |
0.0 |
- |
- |
- |
- |
|
Other Plant/machinery, Net |
0.0 |
- |
- |
- |
- |
|
Other PPE under Capital Lease, Net |
0.0 |
- |
- |
- |
- |
|
Other Total PPE,Net |
0.0 |
- |
- |
- |
- |
|
Total Assets |
944.9 |
929.5 |
743.6 |
828.5 |
1,081.7 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
117.4 |
139.6 |
87.6 |
53.4 |
196.2 |
|
Short-term loans payable |
15.8 |
15.7 |
13.9 |
97.2 |
18.1 |
|
Current portion of long-term loans payab |
38.8 |
42.0 |
41.6 |
50.9 |
27.0 |
|
Curr.Corp.Bond |
- |
- |
- |
0.0 |
140.3 |
|
Lease obligations |
1.0 |
3.7 |
3.5 |
3.7 |
0.0 |
|
Current Convertable Bond |
- |
- |
- |
- |
0.0 |
|
Income Tax Pybl. |
4.3 |
6.3 |
0.8 |
0.7 |
17.9 |
|
Bonus Allowance |
8.9 |
7.8 |
2.6 |
2.8 |
8.9 |
|
Provision for directors'' bonuses |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Reserve for business liquid. loss |
0.0 |
0.1 |
1.0 |
4.1 |
0.0 |
|
Deferred tax liabilities |
1.1 |
0.8 |
0.0 |
- |
- |
|
Other Current |
43.9 |
39.6 |
17.1 |
38.8 |
38.9 |
|
Total Current Liabilities |
231.2 |
255.7 |
168.1 |
251.7 |
447.5 |
|
|
|
|
|
|
|
|
Corporate Debt |
0.0 |
36.2 |
32.1 |
0.0 |
0.0 |
|
Lease obligations |
0.5 |
6.0 |
8.9 |
11.7 |
0.0 |
|
Long-term loans payable |
44.9 |
59.1 |
89.7 |
115.8 |
34.9 |
|
Total Long Term Debt |
45.4 |
101.3 |
130.8 |
127.6 |
34.9 |
|
|
|
|
|
|
|
|
Reserve for accrued retirement benefit |
19.7 |
29.0 |
25.3 |
34.5 |
39.1 |
|
Provision for directors'' retirement ben |
1.2 |
1.1 |
1.2 |
1.1 |
1.1 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Long-term accounts payable-other |
6.6 |
0.4 |
0.3 |
0.3 |
1.7 |
|
Total Liabilities |
304.1 |
387.4 |
325.7 |
415.1 |
524.2 |
|
|
|
|
|
|
|
|
Rounding adjustment Equity |
0.0 |
- |
- |
- |
- |
|
Common Stk. |
124.0 |
123.2 |
109.1 |
97.7 |
96.8 |
|
Total capital surpluses |
257.7 |
256.1 |
227.1 |
209.3 |
207.5 |
|
Total retained earnings |
265.5 |
166.6 |
85.5 |
116.4 |
250.2 |
|
Treasury stock |
-1.3 |
-1.3 |
-1.2 |
-1.1 |
-1.1 |
|
Valuation difference on available-for-sa |
-1.8 |
-0.2 |
-2.1 |
-9.8 |
0.7 |
|
Trans. Adjust. |
-5.4 |
-3.8 |
-2.1 |
-3.3 |
-0.4 |
|
Subscription rights to shares |
2.1 |
1.5 |
1.6 |
4.1 |
3.8 |
|
Total Equity |
640.8 |
542.1 |
417.9 |
413.4 |
557.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
944.9 |
929.5 |
743.6 |
828.5 |
1,081.7 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
41.2 |
41.2 |
41.2 |
40.2 |
40.2 |
|
Total Common Shares Outstanding |
41.2 |
41.2 |
41.2 |
40.2 |
40.2 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Full-Time Employees |
1,144 |
1,058 |
953 |
1,221 |
1,318 |
|
Total Number of Shareholders |
26,516 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
29,094 |
31,474 |
33,061 |
33,695 |
|
LT Debts Maturing within 1yr. |
38.8 |
42.0 |
41.6 |
51.4 |
167.8 |
|
Lns Pble Maturing over a Yr within 2 Yrs |
30.3 |
- |
- |
- |
- |
|
LT Debts Maturing within 2yr. |
- |
33.8 |
37.3 |
37.0 |
22.3 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
4.9 |
- |
- |
- |
- |
|
LT Debts Maturing within 3yr. |
- |
61.5 |
30.0 |
33.4 |
8.5 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
4.9 |
- |
- |
- |
- |
|
LT Debts Maturing within 4yr. |
- |
0.0 |
54.6 |
27.8 |
4.1 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
4.9 |
- |
- |
- |
- |
|
LT Debts Maturing within 5yr. |
- |
0.0 |
0.0 |
22.3 |
0.0 |
|
Remaining |
- |
- |
0.0 |
27.1 |
1.9 |
|
Total Long Term Debt, Supplemental |
83.8 |
137.4 |
163.4 |
199.0 |
204.5 |
|
Lease liability due within 1 year |
1.0 |
3.7 |
3.5 |
3.7 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
0.4 |
- |
- |
- |
- |
|
Lease liability due in year 2 |
- |
3.6 |
3.5 |
3.3 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
0.0 |
- |
- |
- |
- |
|
Lease liability due in year 3 |
- |
2.3 |
3.4 |
3.3 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.0 |
- |
- |
- |
- |
|
Lease liability due in year 4 |
- |
0.0 |
2.1 |
3.2 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.0 |
- |
- |
- |
- |
|
Lease liability due in year 5 |
- |
0.0 |
0.0 |
2.0 |
- |
|
Other Capital Leases Remaining Maturit |
0.0 |
- |
- |
- |
- |
|
Lease liability due after 5 years |
- |
- |
0.0 |
0.0 |
- |
|
Total Capital Leases |
1.5 |
9.7 |
12.4 |
15.4 |
- |
|
Pension Obligation |
43.8 |
64.1 |
56.8 |
69.0 |
73.5 |
|
Fair Value of Plan Assets |
69.2 |
49.5 |
44.9 |
18.7 |
25.9 |
|
Funded Status |
25.5 |
-14.6 |
-11.9 |
-50.3 |
-47.6 |
|
Total Funded Status |
25.5 |
-14.6 |
-11.9 |
-50.3 |
-47.6 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Accrued Pension Benefit |
-19.7 |
-29.0 |
-25.3 |
-34.5 |
-39.1 |
|
Unrecognized Actuarial Gains and Losses |
- |
14.4 |
13.4 |
15.8 |
8.5 |
|
Net Assets Recognized on Balance Sheet |
-19.7 |
-14.6 |
-11.9 |
-18.7 |
-30.6 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Ernst &
Young Shin Nihon LLC |
Toho Audit
Corporation |
Ernst &
Young LLP |
Ernst & Young
LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Income Before Tax |
120.9 |
76.6 |
-17.4 |
-136.7 |
80.6 |
|
Depreciation |
25.1 |
20.9 |
22.5 |
24.4 |
19.7 |
|
Loss on cancellation of leases |
4.7 |
- |
- |
- |
- |
|
Impairment loss |
- |
0.0 |
1.5 |
0.0 |
- |
|
Amortization of goodwill |
4.2 |
3.9 |
3.6 |
3.3 |
3.4 |
|
Share-based compensation expenses |
0.8 |
0.0 |
0.2 |
0.7 |
1.9 |
|
L on business of subsidiaries and affil. |
- |
- |
0.0 |
7.8 |
0.0 |
|
Increase (decrease) in provision for ret |
-9.9 |
0.5 |
-11.2 |
-2.9 |
0.7 |
|
Increase (decrease) in provision for dir |
0.2 |
-0.3 |
0.1 |
0.0 |
-1.6 |
|
Increase (decrease) in allowance for dou |
0.6 |
-6.9 |
-1.9 |
9.7 |
0.2 |
|
Increase (decrease) in provision for los |
-0.2 |
-0.9 |
-3.4 |
0.0 |
- |
|
Reserve for investment loss |
- |
- |
0.0 |
-0.8 |
0.7 |
|
Interest & Dividend |
-1.0 |
-0.6 |
-1.5 |
-2.5 |
-4.1 |
|
Interest Expenses |
4.5 |
6.3 |
5.4 |
3.8 |
2.1 |
|
G on rev. of st. subscrip. rights |
0.0 |
0.0 |
-2.0 |
0.0 |
-0.1 |
|
Loss (gain) on sales and retirement of p |
1.7 |
0.2 |
0.9 |
0.8 |
0.2 |
|
Loss on cancellation of leases |
- |
0.0 |
- |
- |
- |
|
Loss (gain) on sales of land |
0.0 |
-10.2 |
0.1 |
0.0 |
0.0 |
|
Loss (gain) on sales of investment secur |
0.0 |
-0.9 |
0.0 |
- |
0.0 |
|
Loss (gain) on valuation of investment s |
0.5 |
4.2 |
0.1 |
0.8 |
0.7 |
|
Decrease (increase) in notes and account |
-18.6 |
-44.6 |
-39.7 |
199.2 |
63.8 |
|
Decrease (increase) in inventories |
7.9 |
-16.8 |
58.7 |
84.4 |
-6.0 |
|
Increase (decrease) in notes and account |
-23.3 |
40.3 |
31.6 |
-136.8 |
-30.6 |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
- |
|
Director Ben Paid |
- |
- |
- |
- |
0.0 |
|
Other, net |
5.9 |
21.6 |
-17.7 |
-0.6 |
-5.3 |
|
Int.& Dividend Rcv'd |
1.0 |
0.6 |
1.5 |
2.5 |
4.1 |
|
Interest Paid |
-4.7 |
-6.6 |
-5.7 |
-2.8 |
-2.1 |
|
Taxes Paid/Refund |
-7.6 |
0.8 |
-3.2 |
-25.8 |
-40.7 |
|
Newly Consolidated |
0.6 |
- |
- |
0.0 |
1.5 |
|
Cash from Operating Activities |
113.5 |
88.3 |
22.3 |
28.4 |
89.2 |
|
|
|
|
|
|
|
|
Time Deposit Made |
-0.5 |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
|
Time Deposit Matured |
0.5 |
0.4 |
11.2 |
0.4 |
0.3 |
|
Purchase of property, plant and equipmen |
-39.6 |
-2.0 |
-2.0 |
-28.7 |
-43.9 |
|
Proceeds from sales of property, plant a |
0.2 |
11.5 |
4.1 |
0.1 |
0.6 |
|
Purchase of intangible assets |
-1.0 |
-1.1 |
-0.1 |
-2.8 |
-5.3 |
|
Inv. Sec. Bought |
0.0 |
0.0 |
0.0 |
-0.1 |
-7.4 |
|
Inv. Sec. Sold |
0.0 |
4.6 |
0.7 |
0.0 |
0.0 |
|
Affiliate Eq Bought |
- |
- |
- |
0.0 |
-0.1 |
|
Purch of Subsidiary Stock |
-0.1 |
-0.2 |
0.0 |
-0.9 |
-0.8 |
|
Closely-held inv'ts made |
- |
0.0 |
0.0 |
-0.5 |
0.0 |
|
Purch. of inv'ts in capital of sub. |
-0.7 |
-0.1 |
0.0 |
- |
- |
|
Sale of membership |
- |
- |
0.0 |
0.6 |
0.0 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Loans Made |
-0.7 |
-0.6 |
-0.3 |
-0.2 |
0.0 |
|
Loans Returned |
0.1 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Other Investing CF |
- |
- |
- |
0.0 |
0.1 |
|
Cash from Investing Activities |
-41.8 |
12.0 |
13.3 |
-32.4 |
-56.7 |
|
|
|
|
|
|
|
|
ST Debt, net |
- |
0.0 |
-89.3 |
77.7 |
14.9 |
|
Proceeds from long-term loans payable |
25.3 |
0.0 |
10.8 |
134.3 |
0.0 |
|
Redemption Of Bonds |
-38.0 |
- |
- |
- |
- |
|
Repayment of long-term loans payable |
-44.1 |
-45.4 |
-55.9 |
-31.8 |
-27.3 |
|
Issuance of common stock |
- |
0.0 |
10.8 |
0.0 |
- |
|
Bond issued |
- |
0.0 |
32.3 |
0.0 |
- |
|
Redemption of bonds |
- |
0.0 |
0.0 |
-139.0 |
-10.5 |
|
Cash from Sale and lease back trading |
- |
- |
0.0 |
10.5 |
0.0 |
|
Repayments of lease obligations |
-3.9 |
-3.6 |
-3.9 |
-3.7 |
0.0 |
|
Exercise of stock options |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Cash dividends paid |
-6.8 |
-2.4 |
0.0 |
-22.0 |
-19.3 |
|
Other, net |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Financing Activities |
-67.5 |
-51.3 |
-95.4 |
26.1 |
-42.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.0 |
-1.7 |
-0.1 |
-3.0 |
-0.2 |
|
Net Change in Cash |
3.3 |
47.3 |
-59.8 |
19.1 |
-9.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
205.1 |
141.7 |
189.2 |
155.9 |
147.0 |
|
Net Cash - Ending Balance |
208.4 |
189.0 |
129.4 |
175.0 |
137.0 |
|
Cash Interest Paid |
4.7 |
6.6 |
5.7 |
2.8 |
2.1 |
|
Cash Taxes Paid |
7.6 |
-0.8 |
3.2 |
25.8 |
40.7 |
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.