MIRA INFORM REPORT
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Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHINDENGEN ELECTRIC MFG. CO., LTD. |
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Registered Office : |
6F, New-Otemachi Bldg., 2-2-1, Ote-machi, Chiyoda-Ku, 100-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
16.08.1949 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
manufacture and sale of semiconductor products,
electrical components, power supplies and others |
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No. of Employees : |
5437 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a
strong work ethic, mastery of high technology, and a comparatively small
defense allocation (1% of GDP) helped Japan develop a technologically advanced
economy. Two notable characteristics of the post-war economy were the close
interlocking structures of manufacturers, suppliers, and distributors, known as
keiretsu, and the guarantee of lifetime employment for a substantial portion of
the urban labor force. Both features are now eroding under the dual pressures
of global competition and domestic demographic change. Japan's industrial
sector is heavily dependent on imported raw materials and fuels. A tiny
agricultural sector is highly subsidized and protected, with crop yields among
the highest in the world. Usually self-sufficient in rice, Japan imports about
60% of its food on a caloric basis. Japan maintains one of the world's largest
fishing fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001,
and third-place India, which edged out Japan in 2011. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed
Japan further into recession. Government stimulus spending helped the economy
recover in late 2009 and 2010, but the economy contracted again in 2011 as the
massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity
supplies remain tight because Japan has temporarily shut down almost all of its
nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled
by the earthquake and resulting tsunami. Estimates of the direct costs of the
damage - rebuilding homes, factories, and infrastructure - range from $235
billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister
Yoshihiko NODA has proposed opening the agricultural and services sectors to
greater foreign competition and boosting exports through membership in the
US-led Trans-Pacific Partnership trade talks and by pursuing free-trade
agreements with the EU and others, but debate continues on restructuring the
economy and reining in Japan's huge government debt, which exceeds 200% of GDP.
Persistent deflation, reliance on exports to drive growth, and an aging and
shrinking population are other major long-term challenges for the economy.
|
Source : CIA |
Company name & address
Shindengen Electric Mfg. Co., Ltd.
6F, New-Otemachi Bldg., 2-2-1, Ote-machi
Chiyoda-Ku, 100-0004
Japan
Tel: 81-3-32794431
Fax: 81-3-32796478
Web: www.shindengen.co.jp
Synthesis
Employees: 5,437
Company Type: Public Parent
Corporate Family: 23
Companies
Traded: Tokyo
Stock Exchange: 6844
Incorporation Date:
16-Aug-1949
Auditor: Ernst & Young ShinNihon LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: Japanese
Yen
Annual Sales: 1,045.6 1
Net Income: 19.0
Total Assets:
1,358.5 2
Market Value: 406.7 (15-Mar-2013)
Business Description
Shindengen Electric Manufacturing Co., Ltd. is primarily engaged in the
manufacture and sale of semiconductor products, electrical components, power supplies
and others. The Devices segment offers diodes, thyristors, metal-oxide
semiconductor field-effect transistors (MOSFETs), and high-voltage power
integrated circuits (ICs).The Modules segment mainly provides electrical
components for cars, inverters, and direct current (DC)/DC converters. The
Systems segment is engaged in the manufacture and sale of a variety of power
supply equipment for communication devices, and power supplies for information
equipment. The Others segment mainly provides solenoid products. As of March
31, 2012, it had 17 consolidated companies, three non-consolidated companies
and two associated companies. On February 2, 2012, the Company sold part of its
stake in its 60%-owned consolidated subsidiary. For the nine months ended 31 December
2012, Shindengen Electric Mfg. Co., Ltd. revenues decreased 1% to Y61.37B. Net
income applicable to common stockholders decreased 35% to Y1.15B. Revenues
reflect a decrease in demand for the Company's products and services due to
unfavorable market conditions. Net income also reflects Eliminations and
Corporate segment loss increase from Y675M to Y1.95B, Other segment income
decrease of 82% to Y21M.
Industry
Industry Electronic Instruments and Controls
ANZSIC 2006: 2439 - Other
Electrical Equipment Manufacturing
NACE 2002: 3162 - Manufacture
of other electrical equipment not elsewhere classified
NAICS 2002: 335999 - All Other
Miscellaneous Electrical Equipment and Component Manufacturing
UK SIC 2003: 3162 - Manufacture
of other electrical equipment not elsewhere classified
UK SIC 2007: 2790 - Manufacture
of other electrical equipment
US SIC 1987: 3629 - Electrical
Industrial Apparatus, Not Elsewhere Classified
Key Executives
|
Name |
Title |
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President, Representative Director |
|
|
Senior Executive Officer, Plant Manager, Director |
|
|
Takaharu Yokoi |
Senior Executive Officer |
|
Yuichiro Miyake |
Corporate Auditor |
|
Seiji Niizeki |
Officer |
Significant
Developments
|
* number of significant developments within the last 12 months
News
|
Financial
Summary
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 82.38536
Corporate Overview
Location
6F, New-Otemachi Bldg., 2-2-1, Ote-machi
Chiyoda-Ku, 100-0004
Japan
Tel: 81-3-32794431
Fax: 81-3-32796478
Web: www.shindengen.co.jp
Quote Symbol - Exchange
6844 - Tokyo Stock
Exchange
Sales JPY(mil): 82,561.0
Assets JPY(mil): 111,920.0
Employees: 5,437
Fiscal Year End: 31-Mar-2012
Industry: Electronic
Instruments and Controls
Incorporation Date: 16-Aug-1949
Company Type: Public
Parent
Quoted Status: Quoted
President,
Representative Director:
Masato Morikawa
Industry Codes
ANZSIC 2006 Codes:
2439 - Other Electrical Equipment Manufacturing
2429 - Other Electronic Equipment Manufacturing
NACE 2002 Codes:
3162 - Manufacture of other electrical equipment not elsewhere
classified
3210 - Manufacture of electronic valves and tubes and other
electronic components
3120 - Manufacture of electricity distribution and control
apparatus
3110 - Manufacture of electric motors, generators and transformers
NAICS 2002 Codes:
335999 - All Other Miscellaneous Electrical Equipment and Component
Manufacturing
335313 - Switchgear and Switchboard Apparatus Manufacturing
335312 - Motor and Generator Manufacturing
334413 - Semiconductor and Related Device Manufacturing
US SIC 1987:
3629 - Electrical Industrial Apparatus, Not Elsewhere Classified
3674 - Semiconductors and Related Devices
3621 - Motors and Generators
3613 - Switchgear and Switchboard Apparatus
UK SIC 2003:
3162 - Manufacture of other electrical equipment not elsewhere
classified
3210 - Manufacture of electronic valves and tubes and other
electronic components
3120 - Manufacture of electricity distribution and control
apparatus
3110 - Manufacture of electric motors, generators and transformers
UK SIC 2007:
2790 - Manufacture of other electrical equipment
2712 - Manufacture of electricity distribution and control
apparatus
2711 - Manufacture of electric motors, generators and transformers
2611 - Manufacture of electronic components
Business
Description
Shindengen
Electric Manufacturing Co., Ltd. is primarily engaged in the manufacture and
sale of semiconductor products, electrical components, power supplies and
others. The Devices segment offers diodes, thyristors, metal-oxide
semiconductor field-effect transistors (MOSFETs), and high-voltage power
integrated circuits (ICs).The Modules segment mainly provides electrical
components for cars, inverters, and direct current (DC)/DC converters. The
Systems segment is engaged in the manufacture and sale of a variety of power
supply equipment for communication devices, and power supplies for information
equipment. The Others segment mainly provides solenoid products. As of March
31, 2012, it had 17 consolidated companies, three non-consolidated companies
and two associated companies. On February 2, 2012, the Company sold part of its
stake in its 60%-owned consolidated subsidiary. For the nine months ended 31
December 2012, Shindengen Electric Mfg. Co., Ltd. revenues decreased 1% to
Y61.37B. Net income applicable to common stockholders decreased 35% to Y1.15B.
Revenues reflect a decrease in demand for the Company's products and services
due to unfavorable market conditions. Net income also reflects Eliminations and
Corporate segment loss increase from Y675M to Y1.95B, Other segment income
decrease of 82% to Y21M.
More Business
Descriptions
Manufacture of semiconductors, electric equipment and power supply product in the Power Device, Power Module and Power System industries
Semiconductors & Electronic Products Mfr
Semiconductor and Other Electronic Component Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Shindengen
Electric Mfg. Co., Ltd. |
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Shindengen Electric Mfg. Co., Ltd. |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Chiyoda-Ku |
Japan |
Electronic Instruments and Controls |
1,045.6 |
5,437 |
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Subsidiary |
Lamphun |
Thailand |
Miscellaneous Capital Goods |
|
1,800 |
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Subsidiary |
Pathumthani |
Thailand |
Electronic Instruments and Controls |
|
625 |
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Subsidiary |
Higashine, Yamagata |
Japan |
Miscellaneous Capital Goods |
|
252 |
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Subsidiary |
Saitama |
Japan |
Electronic Instruments and Controls |
|
200 |
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Subsidiary |
Bekasi |
Indonesia |
Electronic Instruments and Controls |
|
200 |
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Subsidiary |
Kowloon |
Hong Kong |
Electronic Instruments and Controls |
|
100 |
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Joint Venture |
Hanno, Saitama |
Japan |
Electronic Instruments and Controls |
|
60 |
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Subsidiary |
Singapore |
Singapore |
Electronic Instruments and Controls |
|
16 |
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Subsidiary |
Bannockburn, IL |
United States |
Electronic Instruments and Controls |
37.0 |
15 |
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Subsidiary |
Hatfield |
United Kingdom |
Retail (Specialty) |
11.1 |
7 |
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Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Electronic Instruments and Controls |
37.1 |
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Subsidiary |
Calamba, Laguna |
Philippines |
Semiconductors |
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Subsidiary |
Fukaya, Saitama |
Japan |
Electronic Instruments and Controls |
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Facility |
Hanno, Saitama |
Japan |
Semiconductors |
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Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
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Subsidiary |
Saitama |
Japan |
Healthcare Facilities |
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Subsidiary |
Saitama |
Japan |
Business Services |
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Subsidiary |
Akita |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Kumamoto |
Japan |
Software and Programming |
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Subsidiary |
Tokyo |
Japan |
Business Services |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
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Subsidiary |
Guangzhou, Guangdong |
China |
Electronic Instruments and Controls |
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Executive report
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Board of
Directors |
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Senior Executive Officer, Director |
Director/Board Member |
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Managing Executive Officer, Director |
Director/Board Member |
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Managing Executive Officer, Director |
Director/Board Member |
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President, Representative Director |
Director/Board Member |
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Executive Officer, Director |
Director/Board Member |
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Senior Executive Officer, Plant Manager, Director |
Director/Board Member |
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Managing Executive Officer, Plant Manager, Director |
Director/Board Member |
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Executive Officer, Director |
Director/Board Member |
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Executives |
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President, Representative Director |
President |
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Corporate Auditor |
Accounting Executive |
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Corporate Auditor |
Accounting Executive |
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Standing Corporate Auditor |
Accounting Executive |
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Senior Executive Officer, Plant Manager, Director |
Manufacturing Executive |
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Director of Planning in Business Planning Office |
Other |
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Executive Officer, President of Subsidiary |
Other |
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Officer |
Other |
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Executive Officer, Chief Director of Electrical Equipment Business |
Other |
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Executive Officer, Chief Director of Power System Business, Manager of
Power System Business Management Office |
Other |
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Executive Officer, President of Subsidiary |
Other |
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Executive Officer, Chief Director of Electronic Device Business |
Other |
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Senior Executive Officer |
Other |
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Significant Developments
Shindengen Electric Manufacturing Co Ltd Raises Consolidated Full-year Outlook for FY 2013 Feb 06, 2013
Shindengen Electric Manufacturing Co Ltd announced that it has raised its consolidated full-year outlook for revenue from JPY 86,300 million to JPY 88,000 million, operating profit from JPY 1,500 million to JPY 2,100 million, ordinary profit from a loss of JPY 300 million to JPY 1,500 million, net profit from JPY 100 million to JPY 2,000 million and earning per share from JPY 0.12 to JPY 18.56, for the fiscal year ending March 2013. The Company raised the outlook due to the increased sales and the impact of the lower yen, among others.
Shindengen Electric Manufacturing Co Ltd Announces Extraordinary Profit
for Q3 of FY 2013; Lowers Consolidated Full-year Outlook for FY 2013 Nov 07,
2012
Shindengen Electric Manufacturing Co Ltd announced that it will record a
JPY 881 million extraordinary profit on the received insurance payment, for the
third quarter of the fiscal year ending March 2013. The Company has also
lowered its consolidated full-year outlook for revenue from JPY 88,900 million
to JPY 86,300 million, operating profit from JPY 4,900 million to JPY 1,500
million, ordinary profit from JPY 2,800 million to a loss of JPY 300 million,
net profit from JPY 2,000 million to JPY 100 million and earning per share from
JPY 18.56 to JPY 0.12, for the fiscal year ending March 2013. The Company
lowered the outlook due to the decreased sales as well as the impact of the
flood in Thailand and the higher yen, among others.
Shindengen Electric Manufacturing Co Ltd Amends Consolidated Mid-year
Outlook for FY 2013 Oct 31, 2012
Shindengen Electric Manufacturing Co Ltd announced that it has lowered
its consolidated mid-year outlook for revenue from JPY 40,900 million to JPY
40,700 million, but raised the outlook for operating profit from a loss of JPY
300 million to JPY 200 million, ordinary profit from a loss of JPY 1,300
million to a loss of JPY 800 million, net profit from a loss of JPY 1,500
million to a loss of JPY 900 million and earning per share from a loss of JPY
14.98 to a loss of JPY 9.16, for the fiscal year ending March 2013. The Company
raised the profit outlook due to the cost reduction, among others.
Shindengen Electric Manufacturing Co Ltd Lowers Consolidated MId-year
Outlook for FY 2013 Sep 10, 2012
Shindengen Electric Manufacturing Co Ltd announced that it has lowered
the consolidated mid-year outlook for revenue from JPY 43,200 million to JPY
40,900 million, operating profit (loss) from JPY 1,500 million to JPY (300
million), ordinary profit (loss) from JPY 700 million to JPY (1,300 million),
net profit (loss) from JPY 300 million to JPY (1,500 million) and earning
(loss) per share from JPY 2.49 to JPY (14.98) for the fiscal year ending March
31, 2013. The negative outlook is mainly due to the impact of flood in Thailand
and reduction of sales.
Shindengen Electric Mfg. Co., Ltd. Consolidated Full-year Outlook for FY
Ended March 2012 May 07, 2012
Shindengen Electric Mfg. Co., Ltd. announced that it has raised its
consolidated full-year outlook for revenue from JPY 82,000 million to JPY
82,500 million, operating profit from JPY 4,800 million to JPY 5,000 million,
ordinary profit from JPY 3,100 million to JPY 3,600 million, net profit from
JPY 1,100 million to JPY 1,500 million and earning per share from JPY 9.82 to
JPY 13.71 for the fiscal year ended March 31, 2012.
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 ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst & Young
LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
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Net Sales |
1,045.6 |
1,019.1 |
838.5 |
848.3 |
882.1 |
|
Revenue |
1,045.6 |
1,019.1 |
838.5 |
848.3 |
882.1 |
|
Total Revenue |
1,045.6 |
1,019.1 |
838.5 |
848.3 |
882.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
849.2 |
810.6 |
670.9 |
763.8 |
759.9 |
|
Cost of Revenue, Total |
849.2 |
810.6 |
670.9 |
763.8 |
759.9 |
|
Gross Profit |
196.4 |
208.5 |
167.7 |
84.5 |
122.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
73.5 |
67.9 |
59.3 |
71.0 |
68.7 |
|
Labor & Related Expense |
34.3 |
30.9 |
27.6 |
31.0 |
28.8 |
|
Total Selling/General/Administrative Expenses |
107.7 |
98.7 |
87.0 |
102.0 |
97.4 |
|
Research & Development |
25.0 |
24.3 |
20.9 |
22.7 |
11.3 |
|
Restructuring Charge |
- |
0.0 |
16.9 |
18.3 |
0.0 |
|
Impairment-Assets Held for Use |
0.7 |
0.0 |
6.0 |
2.0 |
0.0 |
|
Impairment-Assets Held for Sale |
0.1 |
1.4 |
1.8 |
5.8 |
6.2 |
|
Other Unusual Expense (Income) |
13.4 |
2.9 |
0.0 |
0.0 |
1.2 |
|
Unusual Expense (Income) |
14.2 |
4.2 |
24.7 |
26.0 |
7.4 |
|
Total Operating Expense |
996.2 |
937.9 |
803.3 |
914.4 |
876.1 |
|
|
|
|
|
|
|
|
Operating Income |
49.4 |
81.3 |
35.2 |
-66.1 |
6.0 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-9.4 |
-8.6 |
-8.5 |
-6.2 |
-4.5 |
|
Interest Expense, Net Non-Operating |
-9.4 |
-8.6 |
-8.5 |
-6.2 |
-4.5 |
|
Interest Income -
Non-Operating |
1.1 |
0.7 |
0.6 |
1.3 |
1.9 |
|
Investment Income -
Non-Operating |
1.5 |
1.1 |
6.2 |
-11.5 |
-8.1 |
|
Interest/Investment Income - Non-Operating |
2.6 |
1.9 |
6.7 |
-10.2 |
-6.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
-6.8 |
-6.7 |
-1.8 |
-16.4 |
-10.7 |
|
Gain (Loss) on Sale of Assets |
0.4 |
-1.0 |
-1.3 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
-9.9 |
-7.6 |
-6.4 |
-7.5 |
-9.7 |
|
Other, Net |
-9.9 |
-7.6 |
-6.4 |
-7.5 |
-9.7 |
|
Income Before Tax |
33.0 |
65.9 |
25.7 |
-90.1 |
-14.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
12.9 |
11.4 |
29.8 |
41.5 |
9.0 |
|
Income After Tax |
20.1 |
54.5 |
-4.0 |
-131.6 |
-23.4 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.1 |
-1.1 |
-0.7 |
-0.5 |
0.4 |
|
Net Income Before Extraord Items |
19.0 |
53.4 |
-4.7 |
-132.0 |
-23.0 |
|
Net Income |
19.0 |
53.4 |
-4.7 |
-132.0 |
-23.0 |
|
|
|
|
|
|
|
|
Preferred Dividends |
-1.1 |
- |
- |
- |
- |
|
Miscellaneous Earnings Adjustment |
0.0 |
-2.1 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
-1.1 |
-2.1 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
17.9 |
51.3 |
-4.8 |
-132.1 |
-23.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
17.9 |
51.3 |
-4.8 |
-132.1 |
-23.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
103.1 |
103.1 |
95.1 |
86.8 |
86.8 |
|
Basic EPS Excl Extraord Items |
0.17 |
0.50 |
-0.05 |
-1.52 |
-0.26 |
|
Basic/Primary EPS Incl Extraord Items |
0.17 |
0.50 |
-0.05 |
-1.52 |
-0.26 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
17.9 |
51.3 |
-4.8 |
-132.1 |
-23.0 |
|
Diluted Weighted Average Shares |
103.1 |
103.1 |
95.1 |
86.8 |
86.8 |
|
Diluted EPS Excl Extraord Items |
0.17 |
0.50 |
-0.05 |
-1.52 |
-0.26 |
|
Diluted EPS Incl Extraord Items |
0.17 |
0.50 |
-0.05 |
-1.52 |
-0.26 |
|
Dividends per Share - Common Stock Primary Issue |
0.04 |
0.03 |
0.00 |
0.03 |
0.06 |
|
Gross Dividends - Common Stock |
4.6 |
3.0 |
0.0 |
3.0 |
5.3 |
|
Interest Expense, Supplemental |
9.4 |
8.6 |
8.5 |
6.2 |
4.5 |
|
Depreciation, Supplemental |
55.2 |
48.7 |
49.9 |
51.0 |
51.4 |
|
Total Special Items |
13.8 |
5.2 |
25.9 |
26.0 |
7.4 |
|
Normalized Income Before Tax |
46.8 |
71.2 |
51.7 |
-64.1 |
-7.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
5.4 |
0.9 |
9.1 |
9.1 |
2.6 |
|
Inc Tax Ex Impact of Sp Items |
18.3 |
12.3 |
38.8 |
50.6 |
11.6 |
|
Normalized Income After Tax |
28.5 |
58.8 |
12.8 |
-114.7 |
-18.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
26.4 |
55.7 |
12.1 |
-115.2 |
-18.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.26 |
0.54 |
0.13 |
-1.33 |
-0.21 |
|
Diluted Normalized EPS |
0.26 |
0.54 |
0.13 |
-1.33 |
-0.21 |
|
Research & Development Exp, Supplemental |
52.9 |
48.6 |
37.3 |
45.2 |
38.2 |
|
Reported Operating Profit |
63.6 |
85.5 |
59.8 |
-40.2 |
20.0 |
|
Reported Ordinary Profit |
46.8 |
71.2 |
51.7 |
-65.2 |
-18.0 |
|
Normalized EBIT |
63.6 |
85.5 |
59.9 |
-40.2 |
13.4 |
|
Normalized EBITDA |
118.8 |
134.2 |
109.8 |
10.8 |
64.8 |
|
Current Tax - Total |
12.8 |
- |
- |
- |
- |
|
Current Tax - Total |
12.8 |
- |
- |
- |
- |
|
Deferred Tax - Total |
0.0 |
- |
- |
- |
- |
|
Deferred Tax - Total |
0.0 |
- |
- |
- |
- |
|
Income Tax - Total |
12.9 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
4.7 |
4.3 |
4.4 |
4.7 |
4.1 |
|
Service Cost - Domestic |
13.9 |
11.3 |
10.7 |
11.4 |
9.6 |
|
Prior Service Cost - Domestic |
-0.5 |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
|
Expected Return on Assets - Domestic |
-0.8 |
-0.7 |
-1.1 |
-1.3 |
-1.2 |
|
Actuarial Gains and Losses - Domestic |
4.9 |
4.2 |
3.1 |
2.6 |
1.7 |
|
Other Pension, Net - Domestic |
7.8 |
7.2 |
6.6 |
6.1 |
5.4 |
|
Domestic Pension Plan Expense |
30.1 |
25.9 |
23.3 |
23.2 |
19.3 |
|
Defined Contribution Expense - Domestic |
0.1 |
0.3 |
0.1 |
0.3 |
0.4 |
|
Total Pension Expense |
30.1 |
26.1 |
23.4 |
23.5 |
19.7 |
|
Discount Rate - Domestic |
1.65% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Total Plan Interest Cost |
4.7 |
4.3 |
4.4 |
4.7 |
4.1 |
|
Total Plan Service Cost |
13.9 |
11.3 |
10.7 |
11.4 |
9.6 |
|
Total Plan Expected Return |
-0.8 |
-0.7 |
-1.1 |
-1.3 |
-1.2 |
|
Total Plan Other Expense |
7.8 |
7.2 |
6.6 |
6.1 |
5.4 |
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 ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
430.9 |
340.0 |
255.6 |
144.7 |
90.4 |
|
Cash and Short Term Investments |
430.9 |
340.0 |
255.6 |
144.7 |
90.4 |
|
Accounts Receivable -
Trade, Gross |
249.4 |
248.0 |
221.4 |
173.1 |
233.6 |
|
Provision for Doubtful
Accounts |
-0.3 |
-0.2 |
-3.6 |
-2.7 |
-0.5 |
|
Trade Accounts Receivable - Net |
249.1 |
247.8 |
217.7 |
170.4 |
233.1 |
|
Total Receivables, Net |
249.1 |
247.8 |
217.7 |
170.4 |
233.1 |
|
Inventories - Finished Goods |
57.7 |
65.0 |
35.7 |
66.6 |
103.2 |
|
Inventories - Work In Progress |
40.3 |
44.7 |
46.4 |
46.1 |
42.8 |
|
Inventories - Raw Materials |
111.1 |
89.1 |
75.6 |
75.2 |
84.4 |
|
Total Inventory |
209.1 |
198.9 |
157.7 |
187.9 |
230.4 |
|
Deferred Income Tax - Current Asset |
3.4 |
2.8 |
2.3 |
12.0 |
15.2 |
|
Other Current Assets |
37.9 |
22.1 |
24.2 |
21.2 |
23.8 |
|
Other Current Assets, Total |
41.3 |
24.8 |
26.6 |
33.3 |
39.0 |
|
Total Current Assets |
930.4 |
811.5 |
657.5 |
536.3 |
592.8 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
254.8 |
272.0 |
250.6 |
263.9 |
290.1 |
|
Intangibles, Net |
8.5 |
8.0 |
6.3 |
6.5 |
6.8 |
|
LT Investment - Affiliate Companies |
31.6 |
19.9 |
- |
- |
- |
|
LT Investments - Other |
111.0 |
110.5 |
110.5 |
77.1 |
103.0 |
|
Long Term Investments |
142.6 |
130.4 |
110.5 |
77.1 |
103.0 |
|
Deferred Charges |
- |
- |
- |
- |
0.0 |
|
Deferred Income Tax - Long Term Asset |
15.8 |
17.1 |
14.7 |
23.6 |
53.0 |
|
Other Long Term Assets |
6.4 |
7.6 |
8.8 |
9.9 |
13.3 |
|
Other Long Term Assets, Total |
22.2 |
24.7 |
23.5 |
33.5 |
66.3 |
|
Total Assets |
1,358.5 |
1,246.7 |
1,048.4 |
917.4 |
1,058.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
217.3 |
188.3 |
174.0 |
119.1 |
189.6 |
|
Accrued Expenses |
8.7 |
7.0 |
5.3 |
4.8 |
10.1 |
|
Notes Payable/Short Term Debt |
58.1 |
4.1 |
39.6 |
79.1 |
37.0 |
|
Current Portion - Long Term Debt/Capital Leases |
73.6 |
60.6 |
49.0 |
66.2 |
37.0 |
|
Income Taxes Payable |
0.0 |
3.5 |
3.3 |
0.3 |
2.7 |
|
Deferred Income Tax - Current Liability |
- |
- |
- |
- |
0.0 |
|
Other Current Liabilities |
47.2 |
45.7 |
15.8 |
67.2 |
62.2 |
|
Other Current liabilities, Total |
47.2 |
49.2 |
19.2 |
67.5 |
65.0 |
|
Total Current Liabilities |
404.9 |
309.2 |
287.1 |
336.7 |
338.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
401.3 |
379.0 |
315.1 |
246.2 |
219.6 |
|
Capital Lease Obligations |
13.6 |
18.3 |
15.7 |
13.9 |
0.0 |
|
Total Long Term Debt |
414.8 |
397.3 |
330.9 |
260.1 |
219.6 |
|
Total Debt |
546.5 |
461.9 |
419.5 |
405.4 |
293.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
5.2 |
5.5 |
6.1 |
0.0 |
0.1 |
|
Deferred Income Tax |
5.2 |
5.5 |
6.1 |
0.0 |
0.1 |
|
Minority Interest |
0.0 |
5.6 |
4.7 |
3.8 |
3.3 |
|
Reserves |
1.7 |
1.7 |
0.0 |
- |
0.0 |
|
Pension Benefits - Underfunded |
111.1 |
99.0 |
78.3 |
75.7 |
92.1 |
|
Other Long Term Liabilities |
1.4 |
3.1 |
5.3 |
4.4 |
0.1 |
|
Other Liabilities, Total |
114.3 |
103.9 |
83.7 |
80.1 |
92.2 |
|
Total Liabilities |
939.2 |
821.4 |
712.4 |
680.6 |
653.9 |
|
|
|
|
|
|
|
|
Preferred Stock - Non Redeemable |
30.3 |
30.2 |
26.8 |
- |
- |
|
Preferred Stock - Non Redeemable, Net |
30.3 |
30.2 |
26.8 |
- |
- |
|
Common Stock |
201.2 |
200.0 |
177.4 |
149.6 |
148.4 |
|
Common Stock |
201.2 |
200.0 |
177.4 |
149.6 |
148.4 |
|
Additional Paid-In Capital |
94.2 |
109.6 |
131.7 |
141.6 |
140.5 |
|
Retained Earnings (Accumulated Deficit) |
111.5 |
97.9 |
4.2 |
-26.7 |
113.1 |
|
Treasury Stock - Common |
-1.4 |
-1.3 |
-1.1 |
-1.0 |
-0.9 |
|
Unrealized Gain (Loss) |
8.7 |
8.0 |
9.3 |
-12.5 |
1.5 |
|
Translation Adjustment |
-25.2 |
-19.1 |
-12.2 |
-14.0 |
2.5 |
|
Other Equity, Total |
-25.2 |
-19.1 |
-12.2 |
-14.0 |
2.5 |
|
Total Equity |
419.3 |
425.3 |
336.0 |
236.8 |
405.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,358.5 |
1,246.7 |
1,048.4 |
917.5 |
1,058.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
103.1 |
103.1 |
103.1 |
86.7 |
86.8 |
|
Total Common Shares Outstanding |
103.1 |
103.1 |
103.1 |
86.7 |
86.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.3 |
0.3 |
0.3 |
0.3 |
0.2 |
|
Shares Outstanding - Preferred Stock Primary
Issue |
5.7 |
11.4 |
11.4 |
- |
- |
|
Total Preferred Stock Outstanding |
5.7 |
11.4 |
11.4 |
- |
- |
|
Treasury Shares - Preferred Primary Issue |
0.0 |
- |
- |
- |
- |
|
Employees |
5,437 |
5,790 |
5,093 |
5,905 |
6,384 |
|
Number of Common Shareholders |
6,882 |
7,409 |
7,758 |
8,077 |
9,636 |
|
Total Long Term Debt, Supplemental |
523.9 |
432.2 |
359.4 |
309.4 |
256.7 |
|
Long Term Debt Maturing within 1 Year |
122.6 |
53.3 |
44.2 |
63.2 |
37.0 |
|
Long Term Debt Maturing in Year 2 |
74.1 |
121.9 |
44.3 |
38.3 |
58.7 |
|
Long Term Debt Maturing in Year 3 |
127.6 |
64.6 |
101.2 |
37.2 |
27.2 |
|
Long Term Debt Maturing in Year 4 |
66.2 |
98.5 |
43.2 |
81.1 |
19.3 |
|
Long Term Debt Maturing in Year 5 |
77.3 |
37.5 |
74.1 |
26.3 |
62.9 |
|
Long Term Debt Maturing in 2-3 Years |
201.7 |
186.5 |
145.5 |
75.5 |
86.0 |
|
Long Term Debt Maturing in 4-5 Years |
143.5 |
136.0 |
117.3 |
107.4 |
82.2 |
|
Long Term Debt Matur. in Year 6 & Beyond |
56.0 |
56.5 |
52.3 |
63.3 |
51.5 |
|
Total Capital Leases, Supplemental |
21.6 |
25.6 |
20.5 |
16.8 |
- |
|
Capital Lease Payments Due in Year 1 |
8.0 |
7.3 |
4.8 |
2.9 |
- |
|
Capital Lease Payments Due in Year 2 |
7.1 |
7.1 |
4.5 |
3.0 |
- |
|
Capital Lease Payments Due in Year 3 |
5.3 |
5.8 |
4.1 |
2.9 |
- |
|
Capital Lease Payments Due in Year 4 |
0.9 |
4.4 |
3.5 |
2.6 |
- |
|
Capital Lease Payments Due in Year 5 |
0.2 |
0.8 |
3.2 |
2.6 |
- |
|
Capital Lease Payments Due in 2-3 Years |
12.3 |
12.9 |
8.6 |
5.8 |
- |
|
Capital Lease Payments Due in 4-5 Years |
1.1 |
5.2 |
6.7 |
5.2 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.1 |
0.2 |
0.4 |
2.9 |
- |
|
Pension Obligation - Domestic |
226.3 |
204.4 |
175.3 |
185.4 |
211.9 |
|
Plan Assets - Domestic |
47.3 |
40.4 |
33.8 |
50.3 |
61.5 |
|
Funded Status - Domestic |
-179.0 |
-164.0 |
-141.5 |
-135.0 |
-150.4 |
|
Total Funded Status |
-179.0 |
-164.0 |
-141.5 |
-135.0 |
-150.4 |
|
Discount Rate - Domestic |
1.65% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Prepaid Benefits - Domestic |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Accrued Liabilities - Domestic |
-111.1 |
-98.6 |
-77.6 |
-75.1 |
-86.5 |
|
Other Assets, Net - Domestic |
67.9 |
65.4 |
63.9 |
59.9 |
64.0 |
|
Net Assets Recognized on Balance Sheet |
-43.2 |
-33.2 |
-13.6 |
-15.2 |
-22.5 |
|
Total Plan Obligations |
226.3 |
204.4 |
175.3 |
185.4 |
211.9 |
|
Total Plan Assets |
47.3 |
40.4 |
33.8 |
50.3 |
61.5 |
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 ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst & Young
LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
33.0 |
65.9 |
25.7 |
-90.1 |
-14.4 |
|
Depreciation |
55.2 |
48.7 |
49.9 |
51.0 |
51.4 |
|
Depreciation/Depletion |
55.2 |
48.7 |
49.9 |
51.0 |
51.4 |
|
Unusual Items |
15.0 |
7.2 |
9.8 |
7.4 |
4.2 |
|
Other Non-Cash Items |
20.2 |
15.1 |
6.3 |
-9.8 |
5.2 |
|
Non-Cash Items |
35.2 |
22.3 |
16.1 |
-2.4 |
9.4 |
|
Accounts Receivable |
-29.5 |
-4.1 |
-36.2 |
44.7 |
15.8 |
|
Inventories |
-37.9 |
-27.6 |
43.3 |
26.3 |
-3.0 |
|
Accounts Payable |
58.1 |
5.8 |
20.5 |
-34.1 |
-3.4 |
|
Accrued Expenses |
2.0 |
0.7 |
0.3 |
-5.3 |
-0.6 |
|
Other Operating Cash Flow |
-33.2 |
-1.6 |
-43.0 |
1.2 |
-20.1 |
|
Changes in Working Capital |
-40.6 |
-26.8 |
-15.1 |
32.7 |
-11.1 |
|
Cash from Operating Activities |
82.7 |
110.2 |
76.6 |
-8.8 |
35.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-37.0 |
-25.6 |
-24.0 |
-39.2 |
-44.2 |
|
Purchase/Acquisition of Intangibles |
-3.3 |
-3.8 |
-1.7 |
-1.9 |
-1.5 |
|
Capital Expenditures |
-40.3 |
-29.4 |
-25.7 |
-41.1 |
-45.7 |
|
Acquisition of Business |
-5.5 |
- |
- |
- |
- |
|
Sale of Business |
0.0 |
0.3 |
0.0 |
- |
- |
|
Sale of Fixed Assets |
0.8 |
0.5 |
2.5 |
16.8 |
1.7 |
|
Sale/Maturity of Investment |
0.4 |
0.1 |
0.2 |
6.1 |
17.1 |
|
Investment, Net |
- |
0.0 |
- |
- |
- |
|
Purchase of Investments |
-3.1 |
-9.8 |
-1.8 |
-0.4 |
-19.2 |
|
Other Investing Cash Flow |
-2.3 |
3.0 |
1.8 |
4.2 |
-2.7 |
|
Other Investing Cash Flow Items, Total |
-9.7 |
-5.9 |
2.6 |
26.8 |
-3.1 |
|
Cash from Investing Activities |
-50.0 |
-35.3 |
-23.1 |
-14.2 |
-48.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.1 |
-0.1 |
0.3 |
-0.2 |
-0.1 |
|
Financing Cash Flow Items |
-0.1 |
-0.1 |
0.3 |
-0.2 |
-0.1 |
|
Cash Dividends Paid - Common |
-5.5 |
-0.9 |
0.0 |
-6.0 |
-5.3 |
|
Total Cash Dividends Paid |
-5.5 |
-0.9 |
0.0 |
-6.0 |
-5.3 |
|
Sale/Issuance of
Common |
- |
0.0 |
64.9 |
0.0 |
- |
|
Repurchase/Retirement
of Common |
-16.8 |
0.0 |
- |
- |
- |
|
Common Stock, Net |
-16.8 |
0.0 |
64.9 |
0.0 |
- |
|
Issuance (Retirement) of Stock, Net |
-16.8 |
0.0 |
64.9 |
0.0 |
- |
|
Short Term Debt, Net |
-3.1 |
-36.7 |
-44.8 |
43.3 |
13.8 |
|
Long Term Debt Issued |
148.8 |
75.9 |
101.4 |
87.1 |
49.6 |
|
Long Term Debt
Reduction |
-64.5 |
-56.7 |
-73.5 |
-38.6 |
-54.8 |
|
Long Term Debt, Net |
84.3 |
19.2 |
27.9 |
48.4 |
-5.2 |
|
Issuance (Retirement) of Debt, Net |
81.2 |
-17.5 |
-16.9 |
91.7 |
8.6 |
|
Cash from Financing Activities |
58.8 |
-18.5 |
48.4 |
85.5 |
3.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.9 |
-6.1 |
1.3 |
-9.7 |
-3.5 |
|
Net Change in Cash |
89.6 |
50.3 |
103.3 |
52.7 |
-13.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
356.9 |
278.5 |
153.2 |
89.0 |
92.1 |
|
Net Cash - Ending Balance |
446.5 |
328.8 |
256.5 |
141.7 |
78.3 |
|
Cash Interest Paid |
9.3 |
8.6 |
8.6 |
6.1 |
4.5 |
|
Cash Taxes Paid |
16.2 |
11.3 |
6.0 |
9.7 |
29.8 |
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 ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,045.6 |
1,019.1 |
838.5 |
848.3 |
882.1 |
|
Total Revenue |
1,045.6 |
1,019.1 |
838.5 |
848.3 |
882.1 |
|
|
|
|
|
|
|
|
Cost of finished goods sold |
849.2 |
810.6 |
670.9 |
763.8 |
753.3 |
|
Other Selling/General/Admin. Expense |
45.8 |
- |
- |
- |
- |
|
Delivery expenses |
27.6 |
27.0 |
20.7 |
23.5 |
22.4 |
|
Payrolls |
28.1 |
25.7 |
23.3 |
26.5 |
24.0 |
|
Provision for Bonuses |
1.4 |
1.2 |
0.9 |
0.7 |
1.5 |
|
Periodic Retirement Benefit Costs |
4.7 |
3.9 |
3.4 |
3.6 |
2.7 |
|
Reserve for Officers Retirement |
0.1 |
0.1 |
0.1 |
0.1 |
0.6 |
|
R&D Expenses |
25.0 |
24.3 |
20.9 |
22.7 |
11.3 |
|
Other Selling & General Expenses |
- |
40.9 |
38.7 |
47.5 |
46.3 |
|
SP Loss on disaster |
13.4 |
1.5 |
0.0 |
- |
- |
|
SP L on adjust for account change |
0.0 |
1.4 |
0.0 |
- |
- |
|
SP Restructuring Cost |
- |
0.0 |
16.9 |
18.3 |
0.0 |
|
SP L on val. of LT inv't. secs. |
0.1 |
1.4 |
1.8 |
5.8 |
0.0 |
|
SP Special Retirement Benefits |
- |
- |
- |
0.0 |
1.2 |
|
Product Compen. Loss |
- |
- |
- |
- |
0.0 |
|
SP Loss on Retire. of Inventories |
- |
- |
- |
- |
0.0 |
|
SP Provision for Doubtful Accounts |
- |
- |
- |
- |
0.0 |
|
SP Loss on Retire. of Fixed Assets |
- |
- |
- |
- |
0.0 |
|
SP Loss on Val. of Invest. Closely Held |
- |
- |
- |
- |
0.0 |
|
SP Impairment Loss |
0.7 |
0.0 |
6.0 |
2.0 |
0.0 |
|
NOP Loss on Retire. of Inventories |
- |
- |
- |
0.0 |
6.6 |
|
NOP Loss-Valu.Inv. Secs. |
- |
- |
- |
0.0 |
6.2 |
|
Total Operating Expense |
996.2 |
937.9 |
803.3 |
914.4 |
876.1 |
|
|
|
|
|
|
|
|
Gain on sales of subsidiaries and affili |
0.4 |
- |
- |
- |
- |
|
SP Gain-Sale LT Inv. Secs. |
- |
- |
0.0 |
0.5 |
4.8 |
|
SP Gain-Sale Affiliates Secs. |
- |
- |
0.0 |
0.5 |
0.0 |
|
SP L on sale of affiliated secs |
0.0 |
-1.0 |
0.0 |
- |
- |
|
SP Loss Transfer of Business |
- |
- |
- |
- |
0.0 |
|
SP Loss-liquidation of affiliates |
- |
0.0 |
-1.3 |
0.0 |
- |
|
SP Loss on Sale of LT Inv't. Secs. |
0.0 |
0.0 |
0.0 |
- |
- |
|
NOP Interest Income |
1.1 |
0.7 |
0.6 |
1.3 |
1.9 |
|
NOP Dividends Received |
2.4 |
1.9 |
1.3 |
2.4 |
2.2 |
|
NOP Foreign Exchange Gains |
- |
0.0 |
3.2 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Rent Income |
0.8 |
1.2 |
1.3 |
1.1 |
1.1 |
|
NOP Royalty income |
1.7 |
1.0 |
0.0 |
1.0 |
0.0 |
|
NOP Equity Earnings |
2.4 |
1.7 |
1.6 |
0.7 |
1.5 |
|
NOP G on Sale of Scrap |
- |
- |
- |
- |
0.0 |
|
NOP Subsidy income |
- |
0.0 |
2.3 |
0.0 |
- |
|
NOP Other Non-Operating Income |
1.8 |
3.0 |
2.2 |
1.9 |
1.7 |
|
NOP Interest Expense |
-9.4 |
-8.6 |
-8.5 |
-6.2 |
-4.5 |
|
NOP Foreign Exchange Losses |
-3.3 |
-2.5 |
0.0 |
-15.7 |
-16.6 |
|
NOP Amort.of Pension Acct. Changes |
-7.8 |
-7.2 |
-6.6 |
-6.1 |
-5.4 |
|
NOP Other Non-Operating Expenses |
-6.4 |
-5.6 |
-5.6 |
-5.4 |
-7.2 |
|
Net Income Before Taxes |
33.0 |
65.9 |
25.7 |
-90.1 |
-14.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
12.9 |
11.4 |
29.8 |
41.5 |
9.0 |
|
Net Income After Taxes |
20.1 |
54.5 |
-4.0 |
-131.6 |
-23.4 |
|
|
|
|
|
|
|
|
Minority interests in income |
-1.1 |
-1.1 |
-0.7 |
-0.5 |
0.4 |
|
Net Income Before Extra. Items |
19.0 |
53.4 |
-4.7 |
-132.0 |
-23.0 |
|
Net Income |
19.0 |
53.4 |
-4.7 |
-132.0 |
-23.0 |
|
|
|
|
|
|
|
|
Distribution for Prefer Shares |
-1.1 |
- |
- |
- |
- |
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Adjustment |
- |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Bouns to directors |
- |
-2.0 |
- |
- |
- |
|
Income Available to Com Excl ExtraOrd |
17.9 |
51.3 |
-4.8 |
-132.1 |
-23.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
17.9 |
51.3 |
-4.8 |
-132.1 |
-23.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
103.1 |
103.1 |
95.1 |
86.8 |
86.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.17 |
0.50 |
-0.05 |
-1.52 |
-0.26 |
|
Basic EPS Including ExtraOrdinary Item |
0.17 |
0.50 |
-0.05 |
-1.52 |
-0.26 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
17.9 |
51.3 |
-4.8 |
-132.1 |
-23.0 |
|
Diluted Weighted Average Shares |
103.1 |
103.1 |
95.1 |
86.8 |
86.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.17 |
0.50 |
-0.05 |
-1.52 |
-0.26 |
|
Diluted EPS Including ExtraOrd Items |
0.17 |
0.50 |
-0.05 |
-1.52 |
-0.26 |
|
DPS-Common Stock |
0.04 |
0.03 |
0.00 |
0.03 |
0.06 |
|
Gross Dividends - Common Stock |
4.6 |
3.0 |
0.0 |
3.0 |
5.3 |
|
Normalized Income Before Taxes |
46.8 |
71.2 |
51.7 |
-64.1 |
-7.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
18.3 |
12.3 |
38.8 |
50.6 |
11.6 |
|
Normalized Income After Taxes |
28.5 |
58.8 |
12.8 |
-114.7 |
-18.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
26.4 |
55.7 |
12.1 |
-115.2 |
-18.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.26 |
0.54 |
0.13 |
-1.33 |
-0.21 |
|
Diluted Normalized EPS |
0.26 |
0.54 |
0.13 |
-1.33 |
-0.21 |
|
R & D Expeneses ( SGA) |
25.0 |
24.3 |
20.9 |
22.7 |
11.3 |
|
R & D Expeneses ( COGS ) |
27.9 |
24.3 |
16.5 |
22.6 |
26.9 |
|
Interest Expense |
9.4 |
8.6 |
8.5 |
6.2 |
4.5 |
|
Dep. of Tangible Assets-Current Portion |
55.2 |
- |
- |
- |
- |
|
Depreciation |
- |
48.7 |
49.9 |
51.0 |
51.4 |
|
Income taxes-current |
12.8 |
- |
- |
- |
- |
|
Current Tax - Total |
12.8 |
- |
- |
- |
- |
|
Income taxes-deferred |
0.0 |
- |
- |
- |
- |
|
Deferred Tax - Total |
0.0 |
- |
- |
- |
- |
|
Income Tax - Total |
12.9 |
- |
- |
- |
- |
|
Reported Operating Profit |
63.6 |
85.5 |
59.8 |
-40.2 |
20.0 |
|
Reported Ordinary Profit |
46.8 |
71.2 |
51.7 |
-65.2 |
-18.0 |
|
Service Cost |
13.9 |
11.3 |
10.7 |
11.4 |
9.6 |
|
Interest Cost |
4.7 |
4.3 |
4.4 |
4.7 |
4.1 |
|
Expected Return on Plan Assets |
-0.8 |
-0.7 |
-1.1 |
-1.3 |
-1.2 |
|
Pension Exp. due to Acct. Changes |
7.8 |
7.2 |
6.6 |
6.1 |
5.4 |
|
Actuarial Gains and Losses |
4.9 |
4.2 |
3.1 |
2.6 |
1.7 |
|
Prior Service Cost |
-0.5 |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
|
Domestic Pension Plan Expense |
30.1 |
25.9 |
23.3 |
23.2 |
19.3 |
|
Defined Contribution Expense |
0.1 |
0.3 |
0.1 |
0.3 |
0.4 |
|
Total Pension Expense |
30.1 |
26.1 |
23.4 |
23.5 |
19.7 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.65% |
- |
- |
- |
- |
|
Discount Rate |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
2.00% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
2.00% |
2.00% |
2.00% |
2.00% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Deposits |
430.9 |
340.0 |
255.6 |
144.7 |
90.4 |
|
Notes and accounts receivable-trade |
249.4 |
248.0 |
221.4 |
173.1 |
233.6 |
|
Merchandise & finished goods |
57.7 |
65.0 |
35.7 |
66.6 |
103.2 |
|
Inventories - work-in-process |
40.3 |
44.7 |
46.4 |
46.1 |
42.8 |
|
Raw materials & supplies |
111.1 |
89.1 |
75.6 |
75.2 |
84.4 |
|
Deferred Income Taxes (Current) |
3.4 |
2.8 |
2.3 |
12.0 |
15.2 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Current Assets |
37.8 |
22.1 |
24.2 |
21.2 |
23.8 |
|
Allow.Doubt.Accounts (Current) |
-0.3 |
-0.2 |
-3.6 |
-2.7 |
-0.5 |
|
Total Current Assets |
930.4 |
811.5 |
657.5 |
536.3 |
592.8 |
|
|
|
|
|
|
|
|
Other PPE,Net |
0.0 |
- |
- |
- |
- |
|
Buildings and structures, net |
94.3 |
105.0 |
97.6 |
98.9 |
108.7 |
|
Machinery, equipment and vehicles, net |
68.7 |
69.8 |
65.8 |
76.8 |
98.4 |
|
Land |
58.6 |
58.7 |
52.2 |
49.4 |
49.7 |
|
Lease assets, net |
17.8 |
22.2 |
18.7 |
15.5 |
0.0 |
|
Construction-In-Progress |
4.7 |
4.2 |
4.9 |
8.7 |
14.0 |
|
Other, net |
10.9 |
12.0 |
11.3 |
14.6 |
19.3 |
|
Other Total Intangible Assets, Net |
0.0 |
- |
- |
- |
- |
|
Software Rights |
6.2 |
4.6 |
4.0 |
4.4 |
5.4 |
|
Intangibel lease assets |
0.9 |
1.2 |
0.2 |
0.1 |
0.0 |
|
Other Intangible Assets |
1.4 |
2.3 |
2.1 |
2.0 |
1.4 |
|
Invt Secs Noncons, Asc, Affd Cos |
18.5 |
- |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
13.1 |
- |
- |
- |
- |
|
LT Investment - Affiliate Companies |
- |
9.8 |
- |
- |
- |
|
Inv't partnership-nonconsol.affil. |
- |
10.1 |
- |
- |
- |
|
Other LT Investments |
111.0 |
- |
- |
- |
- |
|
Long-Term Investment in Securities |
- |
110.5 |
110.5 |
77.1 |
103.0 |
|
Deferred tax assets |
15.8 |
17.1 |
14.7 |
23.6 |
53.0 |
|
Other Other Long Term Assets(1) |
7.0 |
- |
- |
- |
- |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Assets |
- |
8.0 |
9.6 |
10.8 |
14.2 |
|
Allow.Doubt.Accounts (Non-Current) |
-0.6 |
-0.4 |
-0.8 |
-1.0 |
-0.9 |
|
Deferred Bond Issue Expenses |
- |
- |
- |
- |
0.0 |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Total Assets |
1,358.5 |
1,246.7 |
1,048.4 |
917.4 |
1,058.9 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
217.3 |
188.3 |
174.0 |
119.1 |
189.6 |
|
Short-term loans payable |
58.1 |
4.1 |
39.6 |
79.1 |
37.0 |
|
LT borrowings (current) |
- |
53.3 |
44.2 |
40.9 |
37.0 |
|
Straight Bonds (Current) |
65.5 |
- |
0.0 |
20.2 |
0.0 |
|
Bond with stock warrants, current |
- |
- |
0.0 |
2.1 |
0.0 |
|
Current lease obligations |
8.0 |
7.3 |
4.8 |
2.9 |
0.0 |
|
Income Taxes Payable |
0.0 |
3.5 |
3.3 |
0.3 |
2.7 |
|
Deferred tax liabilities (current) |
- |
- |
- |
- |
0.0 |
|
Reserve for Bonuses |
8.7 |
7.0 |
5.3 |
4.8 |
10.1 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Other Current Liabilities |
47.2 |
45.7 |
15.8 |
67.2 |
62.2 |
|
Total Current Liabilities |
404.9 |
309.2 |
287.1 |
336.7 |
338.7 |
|
|
|
|
|
|
|
|
Straight Bonds |
80.1 |
144.8 |
128.4 |
81.0 |
100.5 |
|
Bond With Stock Purchase Warrants |
- |
- |
- |
0.0 |
2.0 |
|
Long-term loans payable |
321.1 |
234.2 |
186.7 |
165.2 |
117.1 |
|
Lease obligations |
13.6 |
18.3 |
15.7 |
13.9 |
0.0 |
|
Total Long Term Debt |
414.8 |
397.3 |
330.9 |
260.1 |
219.6 |
|
|
|
|
|
|
|
|
Deferred Tax Liabilities (Non-Current) |
5.2 |
5.5 |
6.1 |
0.0 |
0.1 |
|
Reserve for Retirement Benefit(accrued) |
111.1 |
98.6 |
77.6 |
75.1 |
86.5 |
|
Provision for directors'' retirement ben |
0.1 |
0.4 |
0.7 |
0.6 |
5.6 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Reserve for Products Compens. |
- |
- |
- |
- |
0.0 |
|
Asset obligation liabilities |
1.7 |
1.7 |
0.0 |
- |
- |
|
Other |
1.4 |
3.1 |
5.3 |
4.4 |
0.1 |
|
Minority Interests |
0.0 |
5.6 |
4.7 |
3.8 |
3.3 |
|
Total Liabilities |
939.2 |
821.4 |
712.4 |
680.6 |
653.9 |
|
|
|
|
|
|
|
|
Common Stock |
201.2 |
200.0 |
177.4 |
149.6 |
148.4 |
|
Preferred stock |
30.3 |
30.2 |
26.8 |
- |
- |
|
Total capital surpluses |
94.2 |
109.6 |
131.7 |
141.6 |
140.5 |
|
Total retained earnings |
111.5 |
97.9 |
4.2 |
-26.7 |
113.1 |
|
Treasury Stock |
-1.4 |
-1.3 |
-1.1 |
-1.0 |
-0.9 |
|
Valuation difference on available-for-sa |
8.7 |
8.0 |
9.3 |
-12.5 |
1.5 |
|
Cumulative Translation Adjustments |
-25.2 |
-19.1 |
-12.2 |
-14.0 |
2.5 |
|
Total Equity |
419.3 |
425.3 |
336.0 |
236.8 |
405.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,358.5 |
1,246.7 |
1,048.4 |
917.5 |
1,058.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
103.1 |
103.1 |
103.1 |
86.7 |
86.8 |
|
Total Common Shares Outstanding |
103.1 |
103.1 |
103.1 |
86.7 |
86.8 |
|
T/S-Common Stock |
0.3 |
0.3 |
0.3 |
0.3 |
0.2 |
|
S/O-Preferred Stock A |
5.7 |
11.4 |
11.4 |
- |
- |
|
Total Preferred Shares Outstanding |
5.7 |
11.4 |
11.4 |
- |
- |
|
T/S-Preferred Stock A |
0.0 |
- |
- |
- |
- |
|
Full-Time Employees |
5,437 |
5,790 |
5,093 |
5,905 |
6,384 |
|
Total Number of Shareholders |
6,882 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
7,409 |
7,758 |
8,077 |
9,636 |
|
Bond Redemption Amounts within A Year |
65.5 |
- |
- |
- |
- |
|
Long Term Debt Matured within 1 Year |
57.1 |
53.3 |
44.2 |
63.2 |
37.0 |
|
Bond Redemp Amts over a Yr within 2 Yrs |
4.9 |
- |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
69.3 |
- |
- |
- |
- |
|
Long Term Debt Matured within 2 Years |
- |
121.9 |
44.3 |
38.3 |
58.7 |
|
Bond Redemp Amts over 2 Yrs within 3 Yrs |
41.3 |
- |
- |
- |
- |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
86.4 |
- |
- |
- |
- |
|
Long Term Debt Matured within 3 Years |
- |
64.6 |
101.2 |
37.2 |
27.2 |
|
Bond Redemp Amts over 3 Yrs within 4 Yrs |
4.9 |
- |
- |
- |
- |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
61.4 |
- |
- |
- |
- |
|
Long Term Debt Matured within 4 Years |
- |
98.5 |
43.2 |
81.1 |
19.3 |
|
Bond Redemption Amounts over 4 Years wit |
29.1 |
- |
- |
- |
- |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
48.2 |
- |
- |
- |
- |
|
Long Term Debt Matured within 5 Years |
- |
37.5 |
74.1 |
26.3 |
62.9 |
|
Loans Payable Remaining |
56.0 |
- |
- |
- |
- |
|
Long Term Debt Matured after 5 Years |
- |
56.5 |
52.3 |
63.3 |
51.5 |
|
Total Long Term Debt, Supplemental |
523.9 |
432.2 |
359.4 |
309.4 |
256.7 |
|
Lease Maturing within 1 yr. |
8.0 |
7.3 |
4.8 |
2.9 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
7.1 |
- |
- |
- |
- |
|
Lease Maturing within 2 yr. |
- |
7.1 |
4.5 |
3.0 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
5.3 |
- |
- |
- |
- |
|
Lease Maturing within 3 yr. |
- |
5.8 |
4.1 |
2.9 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.9 |
- |
- |
- |
- |
|
Lease Maturing within 4 yr. |
- |
4.4 |
3.5 |
2.6 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.2 |
- |
- |
- |
- |
|
Lease Maturing within 5 yr. |
- |
0.8 |
3.2 |
2.6 |
- |
|
Capital Lease Remaining |
0.1 |
- |
- |
- |
- |
|
Lease Remaining Maturities |
- |
0.2 |
0.4 |
2.9 |
- |
|
Total Capital Leases |
21.6 |
25.6 |
20.5 |
16.8 |
- |
|
Pension Obligation |
226.3 |
204.4 |
175.3 |
185.4 |
211.9 |
|
Fair Value of Plan Assets |
47.3 |
40.4 |
33.8 |
50.3 |
61.5 |
|
Funded Status |
-179.0 |
-164.0 |
-141.5 |
-135.0 |
-150.4 |
|
Total Funded Status |
-179.0 |
-164.0 |
-141.5 |
-135.0 |
-150.4 |
|
Discount Rate |
1.65% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expense Unrecog. for Acct. Changes |
22.5 |
29.9 |
33.0 |
37.5 |
43.4 |
|
Unrecognized Actuarial Gains and Losses |
46.3 |
36.9 |
32.5 |
24.4 |
22.9 |
|
Unrecognized Prior Service Cost |
-0.9 |
-1.4 |
-1.6 |
-2.0 |
-2.4 |
|
Prepaid Pension Benefits |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Reserve for Accrued Retirement Benefits |
-111.1 |
-98.6 |
-77.6 |
-75.1 |
-86.5 |
|
Net Assets Recognized on Balance Sheet |
-43.2 |
-33.2 |
-13.6 |
-15.2 |
-22.5 |
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 ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income before Taxes |
33.0 |
65.9 |
25.7 |
-90.1 |
-14.4 |
|
Depreciation |
55.2 |
48.7 |
49.9 |
51.0 |
51.4 |
|
L on adjust for account changes |
0.0 |
1.4 |
0.0 |
- |
- |
|
Impairment Loss |
0.7 |
0.0 |
6.0 |
2.0 |
0.0 |
|
L on liquid. of affiliates |
- |
0.0 |
1.3 |
0.0 |
- |
|
Bond issuance expenses |
- |
0.0 |
0.9 |
0.0 |
- |
|
Loss on disaster |
13.4 |
1.5 |
0.0 |
- |
- |
|
Stock issuance expenses |
- |
0.0 |
0.7 |
0.0 |
- |
|
Increase (decrease) in allowance for dou |
0.3 |
-0.8 |
-0.1 |
0.1 |
0.1 |
|
Increase (decrease) in provision for bon |
2.0 |
0.7 |
0.3 |
-5.3 |
-0.6 |
|
Increase (decrease) in provision for ret |
14.0 |
9.9 |
-1.9 |
-11.8 |
4.1 |
|
Interest & Dividend |
-3.5 |
-2.7 |
-1.9 |
-3.7 |
-4.1 |
|
Interest Expenses |
9.4 |
8.6 |
8.5 |
6.2 |
4.5 |
|
Write Off Inventory |
- |
- |
- |
0.0 |
6.6 |
|
Decrease (increase) in accounts receivab |
-5.5 |
- |
- |
- |
- |
|
Decrease (increase) in notes and account |
-22.9 |
-5.0 |
-36.2 |
44.7 |
15.8 |
|
Decrease (increase) in inventories |
-37.9 |
-27.6 |
43.3 |
26.3 |
-3.0 |
|
Decrease (increase) in consumption taxes |
-1.0 |
-5.8 |
0.0 |
- |
- |
|
Increase (decrease) in notes and account |
53.6 |
3.5 |
41.4 |
-34.1 |
-3.4 |
|
Increase (decrease) in accounts payable- |
4.5 |
2.2 |
-20.9 |
0.0 |
- |
|
L on Sale of Business |
- |
- |
- |
- |
0.0 |
|
Loss (gain) on sales of investment secur |
0.0 |
0.0 |
0.0 |
-0.5 |
-4.8 |
|
Loss (gain) on sales of stocks of subsid |
-0.4 |
1.0 |
0.0 |
-0.5 |
0.0 |
|
Loss (gain) on valuation of investment s |
0.1 |
1.4 |
1.8 |
5.8 |
6.2 |
|
Decrease (increase) in accounts receivab |
- |
6.7 |
- |
- |
- |
|
Loss on retirement of property, plant an |
1.1 |
2.0 |
0.8 |
0.7 |
0.9 |
|
Reserve for Debts Guarantees |
- |
- |
- |
- |
0.0 |
|
Reserve for Products Compen. |
- |
- |
- |
0.0 |
-4.6 |
|
Increase In Cash And Cash Equivalents Fr |
0.0 |
- |
- |
- |
- |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
- |
|
Other, net |
-11.5 |
15.5 |
-30.3 |
13.2 |
10.2 |
|
Int & Div.Received(Cash Basis) |
3.8 |
2.8 |
1.9 |
3.8 |
4.1 |
|
Interest Paid (Cash Basis) |
-9.3 |
-8.6 |
-8.6 |
-6.1 |
-4.5 |
|
Tax Paid/Refund |
-16.2 |
-11.3 |
-6.0 |
-9.7 |
-29.8 |
|
Cash from Consolid. |
- |
- |
- |
0.0 |
0.6 |
|
Unconsolid. |
- |
- |
- |
-0.6 |
0.0 |
|
Cash from Operating Activities |
82.7 |
110.2 |
76.6 |
-8.8 |
35.2 |
|
|
|
|
|
|
|
|
Payments for sales of investments in sub |
-5.5 |
- |
- |
- |
- |
|
Purchase of Long-Term Inv't in Sec. |
0.0 |
-1.2 |
-0.8 |
-0.4 |
-19.2 |
|
Sale of Long-Term Investment in Sec. |
0.4 |
0.1 |
0.2 |
5.5 |
17.1 |
|
Sale of affiliated securities |
- |
- |
0.0 |
0.6 |
0.0 |
|
Payments for sales of investments in sub |
- |
0.0 |
- |
- |
- |
|
Inv't partnership-nonconsol.affil. made |
-3.1 |
-8.6 |
-1.0 |
0.0 |
- |
|
Proceeds from sales of investments in su |
0.0 |
0.3 |
0.0 |
- |
- |
|
Purchase of property, plant and equipmen |
-37.0 |
-25.6 |
-24.0 |
-39.2 |
-44.2 |
|
Proceeds from sales of property, plant a |
0.8 |
0.5 |
2.5 |
16.8 |
1.7 |
|
Purchase of Intangible Assets |
-3.3 |
-3.8 |
-1.7 |
-1.9 |
-1.5 |
|
Other, net |
-2.3 |
3.0 |
1.8 |
4.2 |
-2.7 |
|
Cash from Investing Activities |
-50.0 |
-35.3 |
-23.1 |
-14.2 |
-48.7 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-3.1 |
-36.7 |
-44.8 |
43.3 |
13.8 |
|
Proceeds from long-term loans payable |
148.8 |
75.9 |
59.3 |
87.1 |
23.6 |
|
Repayment of long-term loans payable |
-55.9 |
-49.6 |
-46.2 |
-36.4 |
-33.1 |
|
Bond Issued |
- |
0.0 |
42.1 |
0.0 |
25.9 |
|
Bond Redemption |
- |
0.0 |
-21.5 |
0.0 |
-17.5 |
|
Redemption of Bond with Stock Warrants |
- |
0.0 |
-2.2 |
0.0 |
-4.2 |
|
Stocks issued |
- |
0.0 |
64.9 |
0.0 |
- |
|
Purchase of treasury stock |
-16.8 |
- |
- |
- |
- |
|
Other, net |
- |
0.0 |
- |
- |
- |
|
Repayment of lease |
-8.6 |
-7.0 |
-3.6 |
-2.2 |
0.0 |
|
Cash Dividend Paid |
-5.5 |
-0.9 |
0.0 |
-6.0 |
-5.3 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Dividends Paid to Minority Shareholders |
-0.1 |
-0.1 |
-0.1 |
0.0 |
0.0 |
|
Other, net |
0.0 |
0.0 |
0.4 |
-0.2 |
-0.1 |
|
Cash from Financing Activities |
58.8 |
-18.5 |
48.4 |
85.5 |
3.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.9 |
-6.1 |
1.3 |
-9.7 |
-3.5 |
|
Net Change in Cash |
89.6 |
50.3 |
103.3 |
52.7 |
-13.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
356.9 |
278.5 |
153.2 |
89.0 |
92.1 |
|
Net Cash - Ending Balance |
446.5 |
328.8 |
256.5 |
141.7 |
78.3 |
|
Cash Interest Paid |
9.3 |
8.6 |
8.6 |
6.1 |
4.5 |
|
Cash Taxes Paid |
16.2 |
11.3 |
6.0 |
9.7 |
29.8 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.05 |
|
Euro |
1 |
Rs.69.59 |
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.