MIRA
INFORM REPORT
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Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
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Name : |
NABTESCO CORPORATION |
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Registered Office : |
JA Kyosai Bldg., 2-7-9, Hirakawa-cho, Chiyoda-Ku, 102-0093 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
29.09.2003 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is industrial machinery manufacturer |
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No. of Employees : |
4995 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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
Nabtesco Corporation
JA Kyosai Bldg., 2-7-9, Hirakawa-cho
Chiyoda-Ku, 102-0093
Japan
Tel: 81-3-52131133
Fax: 81-3-52131171
Web www.nabtesco.com
Synthesis
Employees: 4,995
Company Type: Public Parent
Corporate Family: 54
Companies
Traded: Tokyo
Stock Exchange: 6268
Incorporation Date:
29-Sep-2003
Auditor: KPMG AZSA LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: Japanese
Yen
Annual Sales: 2,514.2 1
Net Income: 186.9
Total Assets: 2,525.8 2
Market Value: 2,595.5 (05-Apr-2013)
Business Description
Nabtesco Corporation is a Japan-based industrial machinery manufacturer. The Company engaged in four business segments. The Precision Machinery segment designs, manufactures, sells, maintains and repairs industrial robot parts, semiconductor manufacturing equipment and liquid crystal board manufacturing equipment, among others. The Transportation Equipment segment offers break control systems, safety equipment and automatic door systems for automobiles and railroad vehicles, ship control equipment, fire extinguishing systems and others. The Aircraft and Hydraulic Equipment segment provides aircraft parts, construction machinery equipment, devices for wind generators, as well as components. The Industrial Equipment segment supplies automatic doors, smoke elimination equipment, platform safety equipment, welfare and nursing care equipment, food equipment, packing machinery, machine tools, textile machinery and others. On August 1, 2012, the Company fully acquired NABCO DOOR Ltd. For the nine months ended 31 December 2012, Nabtesco Corporation revenues decreased 9% to Y133.02B. Net income applicable to common stockholders decreased 21% to Y8.99B. Revenues reflect Aircraft/hydraulic machinery segment decrease of 30% to Y10.13B, Transportation euqipment segment decrease of 17% to Y9.93B, Precision mechanical equipment segment decrease of 8% to Y10.65B.
Industry
Industry Aerospace and Defense
ANZSIC 2006: 2394 - Aircraft
Manufacturing and Repair Services
NACE 2002: 3530 - Manufacture
of aircraft and spacecraft
NAICS 2002: 336413 - Other
Aircraft Part and Auxiliary Equipment Manufacturing
UK SIC 2003: 3530 - Manufacture
of aircraft and spacecraft
UK SIC 2007: 3030 - Manufacture
of air and spacecraft and related machinery
US SIC 1987: 3728 - Aircraft
Parts and Auxiliary Equipment, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Kazuaki Kotani |
President, Chief Executive Officer, Representative Director |
|
Kenichi Nakamura |
Executive Officer, Chief Director of General Affairs & Human
Resources, Director of General Affairs |
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Kiyoo Amago |
Executive Officer, Vice President of Aerospace Company |
|
Kazuyuki Matsumoto |
Chairman of the Board |
|
Yujiro Imamura |
Managing Director, Managing Executive Officer, Chief Director of
Technology |
Significant Developments
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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
JA Kyosai Bldg., 2-7-9, Hirakawa-cho
Chiyoda-Ku, 102-0093
Japan
Tel: 81-3-52131133
Fax: 81-3-52131171
Web: www.nabtesco.com
Quote Symbol - Exchange
6268 - Tokyo Stock
Exchange
Sales JPY(mil): 198,527.0
Assets JPY(mil): 208,092.0
Employees: 4,995
Fiscal Year End : 31-Mar-2012
Industry: Aerospace
and Defense
Incorporation Date: 29-Sep-2003
Company Type: Public
Parent
Quoted Status: Quoted
President, Chief
Executive Officer, Representative Director:
Kazuaki Kotani
Industry Codes
ANZSIC 2006 Codes:
2394 - Aircraft Manufacturing and Repair Services
231 - Motor Vehicle and Motor Vehicle Part Manufacturing
2499 - Other Machinery and Equipment Manufacturing Not Elsewhere
Classified
2393 - Railway Rolling Stock Manufacturing and Repair Services
9429 - Other Machinery and Equipment Repair and Maintenance
2469 - Other Specialised Machinery and Equipment Manufacturing
2462 - Mining and Construction Machinery Manufacturing
2463 - Machine Tool and Parts Manufacturing
NACE 2002 Codes:
3530 - Manufacture of aircraft and spacecraft
2924 - Manufacture of other general purpose machinery not
elsewhere classified
5272 - Repair of electrical household goods
2942 - Manufacture of other metalworking machine tools
2952 - Manufacture of machinery for mining, quarrying and
construction
3520 - Manufacture of railway and tramway locomotives and rolling
stock
2954 - Manufacture of machinery for textile, apparel and leather
production
3410 - Manufacture of motor vehicles
2911 - Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines
NAICS 2002 Codes:
336413 - Other Aircraft Part and Auxiliary Equipment Manufacturing
336312 - Gasoline Engine and Engine Parts Manufacturing
333120 - Construction Machinery Manufacturing
336510 - Railroad Rolling Stock Manufacturing
333993 - Packaging Machinery Manufacturing
333298 - All Other Industrial Machinery Manufacturing
333292 - Textile Machinery Manufacturing
811310 - Commercial and Industrial Machinery and Equipment (except
Automotive and Electronic) Repair and Maintenance
333611 - Turbine and Turbine Generator Set Units Manufacturing
333512 - Machine Tool (Metal Cutting Types) Manufacturing
US SIC 1987:
3728 - Aircraft Parts and Auxiliary Equipment, Not Elsewhere
Classified
3559 - Special Industry Machinery, Not Elsewhere Classified
3552 - Textile Machinery
3541 - Machine Tools, Metal Cutting Types
3511 - Steam, Gas, and Hydraulic Turbines, and Turbine Generator
Set Units
3743 - Railroad Equipment
3531 - Construction Machinery and Equipment
7623 - Refrigeration and Air-Conditioning Service and Repair Shops
3565 - Packaging Machinery
3714 - Motor Vehicle Parts and Accessories
UK SIC 2003:
3530 - Manufacture of aircraft and spacecraft
2911 - Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines
3520 - Manufacture of railway and tramway locomotives and rolling
stock
2942 - Manufacture of other metalworking machine tools
3410 - Manufacture of motor vehicles
2952 - Manufacture of machinery for mining, quarrying and
construction
2954 - Manufacture of machinery for textile, apparel and leather
production
2924 - Manufacture of other general purpose machinery not
elsewhere classified
5272 - Repair of electrical household goods
UK SIC 2007:
3030 - Manufacture of air and spacecraft and related machinery
2811 - Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines
3020 - Manufacture of railway locomotives and rolling stock
2841 - Manufacture of metal forming machinery
2892 - Manufacture of machinery for mining, quarrying and
construction
2829 - Manufacture of other general-purpose machinery n.e.c.
9522 - Repair of household appliances and home and garden
equipment
2894 - Manufacture of machinery for textile, apparel and leather
production
2910 - Manufacture of motor vehicles
Business
Description
Nabtesco
Corporation is a Japan-based industrial machinery manufacturer. The Company
engaged in four business segments. The Precision Machinery segment designs,
manufactures, sells, maintains and repairs industrial robot parts, semiconductor
manufacturing equipment and liquid crystal board manufacturing equipment, among
others. The Transportation Equipment segment offers break control systems,
safety equipment and automatic door systems for automobiles and railroad
vehicles, ship control equipment, fire extinguishing systems and others. The
Aircraft and Hydraulic Equipment segment provides aircraft parts, construction
machinery equipment, devices for wind generators, as well as components. The
Industrial Equipment segment supplies automatic doors, smoke elimination
equipment, platform safety equipment, welfare and nursing care equipment, food
equipment, packing machinery, machine tools, textile machinery and others. On
August 1, 2012, the Company fully acquired NABCO DOOR Ltd. For the nine months
ended 31 December 2012, Nabtesco Corporation revenues decreased 9% to Y133.02B.
Net income applicable to common stockholders decreased 21% to Y8.99B. Revenues
reflect Aircraft/hydraulic machinery segment decrease of 30% to Y10.13B,
Transportation euqipment segment decrease of 17% to Y9.93B, Precision
mechanical equipment segment decrease of 8% to Y10.65B.
More Business Descriptions
Manufacture of
brakes for vehicles and railway rolling stock; hydraulic devices for
construction machinery; remote control systems for ship engines; automatic door
operating systems for buildings and railway cars; centralized lubricating
systems for machine tools and facilities; manufacture of textile machinery;
industrial machinery and machine tools; oil hydraulic equipment; precision
equipment
Holding Company
Other Industrial
Machinery Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Nabtesco
Corporation |
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Nabtesco Corporation |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Chiyoda-Ku |
Japan |
Aerospace and Defense |
2,514.2 |
4,995 |
|
|
Subsidiary |
Schwarzenburg |
Switzerland |
Construction - Supplies and Fixtures |
194.0 |
829 |
|
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Subsidiary |
Bühl, Baden-Württemberg |
Germany |
Security Systems and Services |
66.8 |
250 |
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Subsidiary |
Osaka |
Japan |
Electronic Instruments and Controls |
134.5 |
335 |
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Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
|
233 |
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Facility |
Yamagata |
Japan |
Miscellaneous Capital Goods |
|
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Subsidiary |
Telford |
United Kingdom |
Construction Services |
33.1 |
202 |
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UK Branch/Trading address |
Bristol |
United Kingdom |
Construction - Supplies and Fixtures |
33.1 |
20 |
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UK Branch/Trading address |
Newton Aycliffe |
United Kingdom |
Construction - Supplies and Fixtures |
33.1 |
6 |
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Subsidiary |
Tokyo |
Japan |
Containers and Packaging |
|
200 |
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Subsidiary |
Dalian |
China |
Miscellaneous Capital Goods |
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Subsidiary |
Kobe |
Japan |
Scientific and Technical Instruments |
|
136 |
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Subsidiary |
Muskego, WI |
United States |
Construction - Supplies and Fixtures |
1.4 |
100 |
|
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Subsidiary |
Farmington Hills, MI |
United States |
Miscellaneous Capital Goods |
1.1 |
100 |
|
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Subsidiary |
Yamaguchi |
Japan |
Miscellaneous Capital Goods |
|
80 |
|
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Subsidiary |
Matsuyama |
Japan |
Miscellaneous Transportation |
|
50 |
|
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Subsidiary |
Redmond, WA |
United States |
Aerospace and Defense |
2.4 |
40 |
|
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Subsidiary |
Matsuyama |
Japan |
Scientific and Technical Instruments |
|
38 |
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Subsidiary |
Yokohama, Kanagawa |
Japan |
Miscellaneous Capital Goods |
|
30 |
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Subsidiary |
Busan |
Korea, Republic of |
Miscellaneous Capital Goods |
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23 |
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Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Electronic Instruments and Controls |
146.3 |
17 |
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Subsidiary |
Kowloon |
Hong Kong |
Construction Services |
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12 |
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Subsidiary |
Ridderkerk |
Netherlands |
Electronic Instruments and Controls |
|
11 |
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Subsidiary |
Ridderkerk |
Netherlands |
Chemical Manufacturing |
|
10 |
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Subsidiary |
Singapore |
Singapore |
Business Services |
|
10 |
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Subsidiary |
Castel Maggiore, Bologna |
Italy |
Construction - Supplies and Fixtures |
|
9 |
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Subsidiary |
Gross-Gerau |
Germany |
Construction - Supplies and Fixtures |
|
9 |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
|
7 |
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Subsidiary |
Hsin-chu |
Taiwan |
Miscellaneous Transportation |
|
6 |
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Subsidiary |
Yachiyo, Chiba |
Japan |
Miscellaneous Capital Goods |
21.1 |
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Subsidiary |
Okayama |
Japan |
Construction - Supplies and Fixtures |
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Subsidiary |
Chiba |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
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Subsidiary |
Tokyo |
Japan |
Aerospace and Defense |
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Subsidiary |
Yokohama, Kanagawa |
Japan |
Electronic Instruments and Controls |
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Subsidiary |
Hyogo |
Japan |
Business Services |
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Subsidiary |
Beijing |
China |
Auto and Truck Parts |
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Subsidiary |
Beijing |
China |
Construction - Supplies and Fixtures |
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Subsidiary |
Bangkok, Samut Prakarn |
Thailand |
Auto and Truck Parts |
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Subsidiary |
Gifu |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Matsuyama |
Japan |
Scientific and Technical Instruments |
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Facility |
Gifu |
Japan |
Miscellaneous Fabricated Products |
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Facility |
Gifu |
Japan |
Miscellaneous Fabricated Products |
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Facility |
Tsu, Mie |
Japan |
Miscellaneous Fabricated Products |
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Facility |
Kobe, Hyogo |
Japan |
Miscellaneous Fabricated Products |
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Facility |
Kobe, Hyogo |
Japan |
Appliance and Tool |
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Facility |
Kobe, Hyogo |
Japan |
Appliance and Tool |
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Facility |
Iwakuni, Yamaguchi |
Japan |
Appliance and Tool |
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Subsidiary |
Chon Buri |
Thailand |
Auto and Truck Manufacturers |
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Subsidiary |
Antony |
France |
Construction - Supplies and Fixtures |
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Subsidiary |
Schwechat |
Austria |
Construction - Supplies and Fixtures |
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Subsidiary |
Kowloon |
Hong Kong |
Business Services |
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Subsidiary |
Suzhou, Jiangsu |
China |
Construction - Raw Materials |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
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Executive report
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Board of
Directors |
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Chairman of the Board |
Chairman |
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Executive Officer, Chief Director of Compliance, Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Managing Director, Managing Executive Officer, Chief Director of
Technology |
Director/Board Member |
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President, Chief Executive Officer, Representative Director |
Director/Board Member |
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Managing Director, Managing Executive Officer, President of Living
Environment Company |
Director/Board Member |
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Executive Officer, President of Aerospace Company, Director |
Director/Board Member |
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Executive Officer, President of Railway Company, Director |
Director/Board Member |
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Senior Managing Director, Senior Managing Executive Officer, Chief
Director of Planning, Manager of Manufacturing Reform Promotion Office,
Representative Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Executives |
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President, Chief Executive Officer, Representative Director |
Chief Executive Officer |
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Managing Director, Managing Executive Officer, Chief Director of
Technology |
Managing Director |
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Managing Director, Managing Executive Officer, President of Living
Environment Company |
Managing Director |
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Senior Managing Director, Senior Managing Executive Officer, Chief Director
of Planning, Manager of Manufacturing Reform Promotion Office, Representative
Director |
Managing Director |
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Executive Officer, Chief Director of General Affairs & Human
Resources, Director of General Affairs |
Human Resources Executive |
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Executive Officer, Vice President of Aerospace Company |
Other |
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Executive Officer, President of Subsidiary |
Other |
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Executive Officer, President of Subsidiary |
Other |
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Executive Officer, Kobe Plant Manager in Railway Company |
Other |
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Managing Executive Officer, President of Power Control Company |
Other |
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Executive Officer, Deputy Chief Director of Planning, Director of
Sales Planning |
Other |
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Executive Officer, Director of Wind Turbine Equipment Project, Director
of Planning, Vice President of Power Control Company |
Other |
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Executive Officer, President of Subsidiary |
Other |
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Executive Officer, General Manager in Subsidiary |
Other |
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Executive Officer, President of Subsidiary |
Other |
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Executive Officer, Vice President & Director of Planning in Living
Environment Company |
Other |
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Executive Officer, President of Marine Company |
Other |
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Executive Officer, President of Subsidiary |
Other |
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Executive Officer, President of Precision Instrument Company |
Other |
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Significant Developments
Nabtesco Corp Lowers Consolidated Full-year Forecast for FY 2013; Lowers Year-end Dividend Forecast for FY 2013 Jan 31, 2013
Nabtesco Corp announced that it has lowered the consolidated full-year forecast for revenue from JPY 185,000 million to JPY 180,500 million, operating profit from JPY 17,000 million to JPY 14,200 million, ordinary profit from JPY 19,200 million to JPY 16,400 million, net profit from JPY 14,300 million to JPY 12,000 million and earning per share from JPY 112.68 to JPY 94.56 for the fiscal year ending March 31, 2013. The Company lowered the consolidated full-year outlook due to the downturn in economy and the aggravated order environment. The Company has lowered the year-end dividend forecast from JPY 18.00 per share to JPY 16.00 per share for the fiscal year ending March 31, 2013.
Nabtesco Corp Lowers Full-year Consolidated Outlook for FY Ending March 31, 2013; Lowers Year-end Dividend Forecast for FY Ending March 31, 2013 Oct 31, 2012
Nabtesco Corp announced that it has lowered its full-year consolidated outlook for revenue from JPY 210,000 million to JPY 185,000 million, operating profit from JPY 24,200 million to JPY 17,000 million, ordinary profit from JPY 26,100 million to JPY 19,200 million, net profit from JPY 16,800 million to JPY 14,300 million and earnings per share from JPY 132.91 to JPY 112.68 for the fiscal year ending March 31, 2013. The Company lowered its full-year outlook mainly due to increased loss on depreciation cost for precise machinery business and decreased sales from oil hydraulic equipment business. According to I/B/E/S Estimates, analysts on average are expecting the Company to report full-year revenue of JPY 194,560 million, operating profit of JPY 19,020 million and net profit of JPY 13,050 million. The Company also announced that it has lowered its year-end dividend forecast from JPY 21.00 per share, which was announced on May 10, 2012, to JPY 18.00 per share, for the fiscal year ending March 31, 2013.
Nabtesco Corporation to Fully Acquire NABCO DOOR Ltd May 30, 2012
Nabtesco Corporation announced that it will fully acquire NABCO DOOR
Ltd, which is mainly engaged in the sale of automatic doors, construction tools
and disaster prevention in Osaka, Japan, effective August 1, 2012. For the
transaction, one share of NABCO DOOR's common stock will be exchanged for 0.6
shares of the Company's common stock.
Annual Income
Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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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 |
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Exchange Rate (Period
Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
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Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
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Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
2,514.2 |
1,975.7 |
1,358.4 |
1,574.1 |
1,524.5 |
|
Revenue |
2,514.2 |
1,975.7 |
1,358.4 |
1,574.1 |
1,524.5 |
|
Total Revenue |
2,514.2 |
1,975.7 |
1,358.4 |
1,574.1 |
1,524.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,876.7 |
1,490.4 |
1,052.5 |
1,234.4 |
1,160.4 |
|
Cost of Revenue, Total |
1,876.7 |
1,490.4 |
1,052.5 |
1,234.4 |
1,160.4 |
|
Gross Profit |
637.6 |
485.4 |
305.9 |
339.7 |
364.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
161.4 |
117.1 |
98.2 |
100.9 |
89.1 |
|
Labor & Related Expense |
123.5 |
88.6 |
83.0 |
80.5 |
71.3 |
|
Total Selling/General/Administrative Expenses |
285.0 |
205.6 |
181.2 |
181.4 |
160.3 |
|
Research & Development |
63.1 |
43.8 |
39.0 |
38.7 |
33.7 |
|
Restructuring Charge |
- |
0.0 |
10.4 |
0.0 |
- |
|
Impairment-Assets Held for Use |
- |
0.0 |
4.3 |
0.0 |
- |
|
Impairment-Assets Held for Sale |
0.1 |
0.0 |
0.4 |
45.8 |
0.1 |
|
Other Unusual Expense (Income) |
-2.2 |
3.4 |
0.4 |
1.6 |
3.3 |
|
Unusual Expense (Income) |
-2.1 |
3.4 |
15.6 |
47.3 |
3.3 |
|
Other Operating Expense |
0.0 |
- |
- |
- |
- |
|
Other Operating Expenses, Total |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
2,222.6 |
1,743.2 |
1,288.3 |
1,501.8 |
1,357.8 |
|
|
|
|
|
|
|
|
Operating Income |
291.6 |
232.5 |
70.1 |
72.2 |
166.7 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-2.5 |
-1.1 |
-1.2 |
-1.5 |
-1.5 |
|
Interest Expense, Net Non-Operating |
-2.5 |
-1.1 |
-1.2 |
-1.5 |
-1.5 |
|
Interest Income -
Non-Operating |
1.2 |
1.0 |
1.0 |
0.6 |
0.7 |
|
Investment Income -
Non-Operating |
23.1 |
21.1 |
12.2 |
4.7 |
5.3 |
|
Interest/Investment Income - Non-Operating |
24.3 |
22.1 |
13.2 |
5.3 |
6.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
21.7 |
21.0 |
12.0 |
3.8 |
4.4 |
|
Gain (Loss) on Sale of Assets |
0.4 |
-1.4 |
-0.7 |
-4.4 |
-13.4 |
|
Other Non-Operating Income (Expense) |
1.0 |
4.1 |
4.7 |
7.4 |
3.6 |
|
Other, Net |
1.0 |
4.1 |
4.7 |
7.4 |
3.6 |
|
Income Before Tax |
314.7 |
256.3 |
86.2 |
78.9 |
161.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
112.4 |
87.3 |
35.2 |
27.6 |
55.7 |
|
Income After Tax |
202.3 |
168.9 |
51.0 |
51.3 |
105.6 |
|
|
|
|
|
|
|
|
Minority Interest |
-15.4 |
-12.6 |
-7.8 |
-7.2 |
-9.1 |
|
Net Income Before Extraord Items |
186.9 |
156.3 |
43.2 |
44.1 |
96.5 |
|
Net Income |
186.9 |
156.3 |
43.2 |
44.1 |
96.5 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
-0.1 |
- |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
-0.1 |
- |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
186.9 |
156.2 |
43.2 |
44.0 |
96.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
186.9 |
156.2 |
43.2 |
44.0 |
96.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
126.4 |
126.4 |
126.7 |
127.1 |
127.1 |
|
Basic EPS Excl Extraord Items |
1.48 |
1.24 |
0.34 |
0.35 |
0.76 |
|
Basic/Primary EPS Incl Extraord Items |
1.48 |
1.24 |
0.34 |
0.35 |
0.76 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
186.9 |
156.2 |
43.2 |
44.0 |
96.5 |
|
Diluted Weighted Average Shares |
126.5 |
126.4 |
126.7 |
127.1 |
127.1 |
|
Diluted EPS Excl Extraord Items |
1.48 |
1.24 |
0.34 |
0.35 |
0.76 |
|
Diluted EPS Incl Extraord Items |
1.48 |
1.24 |
0.34 |
0.35 |
0.76 |
|
Dividends per Share - Common Stock Primary Issue |
0.43 |
0.29 |
0.10 |
0.13 |
0.14 |
|
Gross Dividends - Common Stock |
54.7 |
37.1 |
12.3 |
16.4 |
17.8 |
|
Interest Expense, Supplemental |
2.5 |
1.1 |
1.2 |
1.5 |
1.5 |
|
Depreciation, Supplemental |
84.5 |
62.9 |
59.0 |
58.4 |
45.6 |
|
Total Special Items |
5.0 |
3.9 |
15.5 |
51.0 |
16.5 |
|
Normalized Income Before Tax |
319.7 |
260.2 |
101.7 |
130.0 |
177.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.9 |
1.6 |
6.6 |
18.1 |
5.8 |
|
Inc Tax Ex Impact of Sp Items |
111.5 |
89.0 |
41.8 |
45.7 |
61.5 |
|
Normalized Income After Tax |
208.2 |
171.2 |
59.8 |
84.2 |
116.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
192.8 |
158.5 |
52.1 |
76.9 |
107.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.53 |
1.25 |
0.41 |
0.61 |
0.84 |
|
Diluted Normalized EPS |
1.52 |
1.25 |
0.41 |
0.61 |
0.84 |
|
Amort of Acquisition Costs, Supplemental |
7.5 |
-0.8 |
-0.8 |
-0.7 |
-0.2 |
|
Research & Development Exp, Supplemental |
65.9 |
45.6 |
40.3 |
40.9 |
35.7 |
|
Reported Operating Profit |
289.5 |
235.9 |
85.7 |
119.5 |
170.0 |
|
Reported Ordinary Profit |
312.3 |
261.0 |
100.5 |
129.4 |
175.5 |
|
Normalized EBIT |
289.5 |
235.9 |
85.7 |
119.6 |
170.0 |
|
Normalized EBITDA |
381.5 |
297.9 |
143.9 |
177.2 |
215.4 |
|
Current Tax - Total |
98.9 |
- |
- |
- |
- |
|
Current Tax - Total |
98.9 |
- |
- |
- |
- |
|
Deferred Tax - Total |
13.5 |
- |
- |
- |
- |
|
Deferred Tax - Total |
13.5 |
- |
- |
- |
- |
|
Income Tax - Total |
112.4 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
3.2 |
3.1 |
3.2 |
3.0 |
2.8 |
|
Service Cost - Domestic |
9.3 |
8.6 |
9.2 |
7.9 |
6.7 |
|
Expected Return on Assets - Domestic |
0.0 |
0.0 |
-0.1 |
-1.0 |
-0.8 |
|
Actuarial Gains and Losses - Domestic |
4.0 |
4.6 |
6.3 |
4.7 |
3.3 |
|
Other Pension, Net - Domestic |
- |
- |
- |
- |
4.1 |
|
Domestic Pension Plan Expense |
16.5 |
16.3 |
18.6 |
14.6 |
16.1 |
|
Defined Contribution Expense - Domestic |
3.1 |
2.9 |
2.9 |
2.7 |
2.4 |
|
Total Pension Expense |
19.6 |
19.3 |
21.5 |
17.4 |
18.5 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
0.00% |
0.00% |
0.00% |
2.00% |
2.00% |
|
Total Plan Interest Cost |
3.2 |
3.1 |
3.2 |
3.0 |
2.8 |
|
Total Plan Service Cost |
9.3 |
8.6 |
9.2 |
7.9 |
6.7 |
|
Total Plan Expected Return |
0.0 |
0.0 |
-0.1 |
-1.0 |
-0.8 |
|
Total Plan Other Expense |
- |
- |
- |
- |
4.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
188.2 |
503.2 |
118.2 |
95.4 |
111.8 |
|
Short Term Investments |
424.8 |
181.0 |
262.2 |
182.2 |
190.9 |
|
Cash and Short Term Investments |
613.0 |
684.2 |
380.3 |
277.6 |
302.7 |
|
Accounts Receivable -
Trade, Gross |
577.0 |
493.4 |
386.5 |
356.0 |
468.6 |
|
Provision for Doubtful
Accounts |
-2.1 |
-0.8 |
-0.8 |
-0.9 |
-1.4 |
|
Trade Accounts Receivable - Net |
574.9 |
492.6 |
385.7 |
355.0 |
467.2 |
|
Total Receivables, Net |
574.9 |
492.6 |
385.7 |
355.0 |
467.2 |
|
Inventories - Finished Goods |
39.6 |
43.1 |
33.8 |
29.6 |
- |
|
Inventories - Work In Progress |
94.4 |
75.8 |
58.6 |
58.5 |
- |
|
Inventories - Raw Materials |
110.1 |
86.5 |
71.0 |
78.8 |
- |
|
Total Inventory |
244.1 |
205.3 |
163.4 |
167.0 |
185.1 |
|
Deferred Income Tax - Current Asset |
35.3 |
39.7 |
22.6 |
30.7 |
28.4 |
|
Other Current Assets |
36.9 |
14.1 |
9.9 |
23.1 |
13.6 |
|
Other Current Assets, Total |
72.2 |
53.8 |
32.5 |
53.9 |
42.0 |
|
Total Current Assets |
1,504.3 |
1,435.8 |
962.0 |
853.5 |
997.0 |
|
|
|
|
|
|
|
|
Buildings |
522.8 |
499.0 |
446.7 |
401.0 |
393.9 |
|
Land/Improvements |
174.9 |
173.0 |
154.0 |
148.9 |
145.4 |
|
Machinery/Equipment |
917.2 |
788.1 |
672.6 |
670.2 |
636.2 |
|
Construction in
Progress |
13.3 |
6.0 |
5.1 |
17.7 |
13.1 |
|
Property/Plant/Equipment - Gross |
1,628.2 |
1,466.1 |
1,278.4 |
1,237.8 |
1,188.6 |
|
Accumulated Depreciation |
-1,002.9 |
-929.9 |
-806.5 |
-780.1 |
-753.1 |
|
Property/Plant/Equipment - Net |
625.2 |
536.2 |
472.0 |
457.7 |
435.5 |
|
Goodwill, Net |
176.9 |
- |
- |
- |
- |
|
Intangibles, Net |
15.4 |
12.9 |
12.8 |
14.7 |
13.9 |
|
LT Investment - Affiliate Companies |
122.1 |
106.7 |
- |
- |
- |
|
LT Investments - Other |
59.1 |
68.8 |
131.7 |
116.9 |
167.5 |
|
Long Term Investments |
181.2 |
175.5 |
131.7 |
116.9 |
167.5 |
|
Deferred Income Tax - Long Term Asset |
4.7 |
4.9 |
5.2 |
9.0 |
13.4 |
|
Other Long Term Assets |
18.2 |
15.2 |
16.1 |
13.1 |
13.5 |
|
Other Long Term Assets, Total |
22.9 |
20.0 |
21.3 |
22.1 |
26.9 |
|
Total Assets |
2,525.8 |
2,180.6 |
1,599.7 |
1,464.8 |
1,640.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
420.0 |
405.3 |
261.6 |
226.1 |
316.1 |
|
Notes Payable/Short Term Debt |
138.5 |
110.5 |
95.5 |
82.6 |
91.5 |
|
Current Portion - Long Term Debt/Capital Leases |
0.0 |
132.7 |
0.0 |
0.0 |
30.2 |
|
Income Taxes Payable |
54.3 |
85.6 |
9.1 |
4.1 |
32.3 |
|
Other Current Liabilities |
247.8 |
169.5 |
100.5 |
104.4 |
114.4 |
|
Other Current liabilities, Total |
302.0 |
255.1 |
109.6 |
108.5 |
146.7 |
|
Total Current Liabilities |
860.6 |
903.6 |
466.7 |
417.2 |
584.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
246.2 |
0.0 |
117.7 |
111.4 |
110.5 |
|
Total Long Term Debt |
246.2 |
0.0 |
117.7 |
111.4 |
110.5 |
|
Total Debt |
384.7 |
243.2 |
213.2 |
194.0 |
232.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
11.1 |
7.9 |
2.5 |
0.3 |
0.4 |
|
Deferred Income Tax |
11.1 |
7.9 |
2.5 |
0.3 |
0.4 |
|
Minority Interest |
99.1 |
74.0 |
60.9 |
53.0 |
50.9 |
|
Reserves |
0.0 |
3.9 |
6.1 |
5.3 |
0.0 |
|
Pension Benefits - Underfunded |
91.1 |
92.7 |
87.1 |
96.4 |
108.4 |
|
Other Long Term Liabilities |
12.5 |
7.8 |
8.0 |
7.0 |
8.1 |
|
Other Liabilities, Total |
103.6 |
104.3 |
101.3 |
108.6 |
116.5 |
|
Total Liabilities |
1,320.5 |
1,089.8 |
749.1 |
690.5 |
862.9 |
|
|
|
|
|
|
|
|
Common Stock |
121.4 |
120.7 |
107.0 |
101.2 |
100.5 |
|
Common Stock |
121.4 |
120.7 |
107.0 |
101.2 |
100.5 |
|
Additional Paid-In Capital |
214.3 |
212.4 |
187.7 |
176.9 |
175.8 |
|
Retained Earnings (Accumulated Deficit) |
908.1 |
775.4 |
563.6 |
502.9 |
476.3 |
|
Treasury Stock - Common |
-9.1 |
-7.8 |
-7.4 |
-1.5 |
-1.4 |
|
Unrealized Gain (Loss) |
12.4 |
18.2 |
13.8 |
10.5 |
22.1 |
|
Translation Adjustment |
-41.7 |
-28.2 |
-14.1 |
-15.7 |
4.5 |
|
Other Equity, Total |
-41.7 |
-28.2 |
-14.1 |
-15.7 |
4.5 |
|
Total Equity |
1,205.3 |
1,090.7 |
850.6 |
774.3 |
777.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,525.8 |
2,180.5 |
1,599.7 |
1,464.8 |
1,640.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
126.4 |
126.4 |
126.4 |
127.1 |
127.1 |
|
Total Common Shares Outstanding |
126.4 |
126.4 |
126.4 |
127.1 |
127.1 |
|
Treasury Shares - Common Stock Primary Issue |
0.8 |
0.8 |
0.8 |
0.1 |
0.1 |
|
Employees |
4,995 |
4,057 |
3,998 |
3,989 |
3,884 |
|
Number of Common Shareholders |
11,035 |
9,017 |
5,073 |
5,312 |
4,971 |
|
Total Long Term Debt, Supplemental |
246.2 |
132.7 |
117.7 |
111.4 |
140.7 |
|
Long Term Debt Maturing within 1 Year |
40.5 |
132.7 |
58.9 |
37.1 |
30.2 |
|
Long Term Debt Maturing in Year 2 |
40.5 |
- |
58.9 |
37.1 |
36.8 |
|
Long Term Debt Maturing in Year 3 |
40.5 |
- |
- |
37.1 |
36.8 |
|
Long Term Debt Maturing in Year 4 |
62.4 |
- |
- |
- |
36.8 |
|
Long Term Debt Maturing in Year 5 |
62.4 |
- |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
80.9 |
- |
58.9 |
74.2 |
73.7 |
|
Long Term Debt Maturing in 4-5 Years |
124.8 |
- |
- |
- |
36.8 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Pension Obligation - Domestic |
157.8 |
168.9 |
154.2 |
164.4 |
167.9 |
|
Plan Assets - Domestic |
54.1 |
58.4 |
50.2 |
42.0 |
39.3 |
|
Funded Status - Domestic |
-103.7 |
-110.6 |
-104.0 |
-122.4 |
-128.6 |
|
Total Funded Status |
-103.7 |
-110.6 |
-104.0 |
-122.4 |
-128.6 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
0.00% |
0.00% |
0.00% |
2.00% |
2.00% |
|
Prepaid Benefits - Domestic |
- |
0.0 |
2.3 |
- |
- |
|
Accrued Liabilities - Domestic |
-89.0 |
-91.1 |
-85.6 |
-93.7 |
-105.5 |
|
Other Assets, Net - Domestic |
14.6 |
19.5 |
20.7 |
28.7 |
23.1 |
|
Net Assets Recognized on Balance Sheet |
-74.4 |
-71.6 |
-62.7 |
-65.0 |
-82.5 |
|
Total Plan Obligations |
157.8 |
168.9 |
154.2 |
164.4 |
167.9 |
|
Total Plan Assets |
54.1 |
58.4 |
50.2 |
42.0 |
39.3 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
314.7 |
256.2 |
86.2 |
78.9 |
161.3 |
|
Depreciation |
84.5 |
62.9 |
59.0 |
58.4 |
45.6 |
|
Depreciation/Depletion |
84.5 |
62.9 |
59.0 |
58.4 |
45.6 |
|
Amortization of Acquisition Costs |
7.5 |
-0.8 |
-0.8 |
-0.7 |
-0.2 |
|
Amortization |
7.5 |
-0.8 |
-0.8 |
-0.7 |
-0.2 |
|
Unusual Items |
1.9 |
5.4 |
14.6 |
49.2 |
11.0 |
|
Equity in Net Earnings (Loss) |
-22.6 |
-25.9 |
-8.1 |
-6.3 |
-8.5 |
|
Other Non-Cash Items |
-2.0 |
-6.4 |
-16.3 |
-15.8 |
-10.3 |
|
Non-Cash Items |
-22.7 |
-26.9 |
-9.8 |
27.2 |
-7.9 |
|
Accounts Receivable |
-30.6 |
-54.5 |
-11.2 |
103.6 |
6.2 |
|
Inventories |
-2.9 |
-24.5 |
14.5 |
11.3 |
-4.1 |
|
Other Assets |
-16.5 |
-3.8 |
-0.6 |
4.7 |
- |
|
Accounts Payable |
3.3 |
114.0 |
22.0 |
-80.4 |
16.3 |
|
Taxes Payable |
-1.1 |
-5.6 |
4.9 |
-2.3 |
-1.4 |
|
Other Liabilities |
-18.8 |
30.2 |
-0.1 |
-5.4 |
-11.5 |
|
Other Assets & Liabilities, Net |
- |
- |
- |
- |
-2.0 |
|
Other Operating Cash Flow |
-126.2 |
-20.5 |
-3.8 |
-55.3 |
-42.6 |
|
Changes in Working Capital |
-192.7 |
35.4 |
25.6 |
-23.9 |
-39.1 |
|
Cash from Operating Activities |
191.3 |
326.7 |
160.2 |
139.9 |
159.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-114.3 |
-51.2 |
-63.3 |
-81.9 |
-40.5 |
|
Purchase/Acquisition of Intangibles |
-7.7 |
-3.1 |
-1.8 |
-5.4 |
-5.9 |
|
Capital Expenditures |
-122.0 |
-54.3 |
-65.1 |
-87.2 |
-46.4 |
|
Acquisition of Business |
-223.1 |
- |
- |
- |
- |
|
Sale of Business |
1.4 |
0.0 |
- |
- |
0.0 |
|
Sale of Fixed Assets |
4.5 |
2.3 |
1.2 |
1.2 |
0.3 |
|
Sale/Maturity of Investment |
0.4 |
0.1 |
5.0 |
3.1 |
2.4 |
|
Purchase of Investments |
-5.2 |
-2.2 |
-6.1 |
-10.2 |
-35.5 |
|
Sale of Intangible Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Investing Cash Flow |
-3.8 |
2.5 |
-1.3 |
0.3 |
0.7 |
|
Other Investing Cash Flow Items, Total |
-225.9 |
2.7 |
-1.1 |
-5.6 |
-32.1 |
|
Cash from Investing Activities |
-347.8 |
-51.6 |
-66.2 |
-92.8 |
-78.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
10.9 |
-4.2 |
-3.8 |
-0.4 |
-0.2 |
|
Financing Cash Flow Items |
10.9 |
-4.2 |
-3.8 |
-0.4 |
-0.2 |
|
Cash Dividends Paid - Common |
-53.0 |
-20.8 |
-10.9 |
-21.5 |
-16.7 |
|
Total Cash Dividends Paid |
-53.0 |
-20.8 |
-10.9 |
-21.5 |
-16.7 |
|
Sale/Issuance of
Common |
0.0 |
0.6 |
0.2 |
0.4 |
1.6 |
|
Repurchase/Retirement
of Common |
-2.1 |
-0.4 |
-1.0 |
-0.7 |
-1.7 |
|
Common Stock, Net |
-2.1 |
0.3 |
-0.7 |
-0.3 |
-0.1 |
|
Issuance (Retirement) of Stock, Net |
-2.1 |
0.3 |
-0.7 |
-0.3 |
-0.1 |
|
Short Term Debt, Net |
2.9 |
3.1 |
8.1 |
-9.4 |
-29.1 |
|
Long Term Debt Issued |
257.1 |
0.0 |
- |
- |
0.0 |
|
Long Term Debt
Reduction |
-139.3 |
0.0 |
0.0 |
-29.9 |
-4.2 |
|
Long Term Debt, Net |
117.8 |
0.0 |
0.0 |
-29.9 |
-4.2 |
|
Issuance (Retirement) of Debt, Net |
120.6 |
3.1 |
8.1 |
-39.3 |
-33.4 |
|
Cash from Financing Activities |
76.4 |
-21.6 |
-7.4 |
-61.6 |
-50.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-2.8 |
-6.8 |
0.8 |
-9.5 |
0.0 |
|
Net Change in Cash |
-82.9 |
246.8 |
87.4 |
-24.1 |
30.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
716.4 |
413.4 |
293.7 |
295.8 |
229.1 |
|
Net Cash - Ending Balance |
633.5 |
660.2 |
381.2 |
271.7 |
260.0 |
|
Cash Interest Paid |
2.4 |
0.9 |
1.1 |
1.7 |
1.5 |
|
Cash Taxes Paid |
132.8 |
24.2 |
0.5 |
59.4 |
44.7 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
2,514.2 |
1,975.7 |
1,358.4 |
1,574.1 |
1,524.5 |
|
Total Revenue |
2,514.2 |
1,975.7 |
1,358.4 |
1,574.1 |
1,524.5 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Cost of Sales |
1,876.7 |
1,490.4 |
1,052.5 |
1,234.4 |
1,160.4 |
|
Other Selling/General/Admin. Expense |
143.4 |
- |
- |
- |
- |
|
Payrolls |
87.7 |
60.4 |
57.1 |
53.8 |
45.7 |
|
Bonuses |
29.2 |
21.2 |
18.5 |
19.7 |
19.7 |
|
Periodic retirement benefit costs |
6.2 |
6.5 |
6.7 |
5.9 |
5.0 |
|
Reserve for officers retirement |
0.5 |
0.5 |
0.7 |
1.1 |
0.8 |
|
Research&development |
63.1 |
43.8 |
39.0 |
38.7 |
33.7 |
|
Traveling & communication exp. |
18.0 |
13.1 |
10.2 |
12.6 |
10.6 |
|
Other SGA |
- |
104.0 |
88.0 |
88.3 |
78.5 |
|
Gain On Revision Of Retirement Benefit P |
-0.6 |
- |
- |
- |
- |
|
Compensation Income |
-1.7 |
- |
- |
- |
- |
|
Loss on cancellation of leasehold contra |
0.1 |
- |
- |
- |
- |
|
SP Reversal doubtful accounts |
0.0 |
-0.3 |
-0.3 |
-0.5 |
-0.9 |
|
SP Compensation income |
- |
0.0 |
- |
- |
- |
|
SP G on revision of retirement benefit p |
- |
0.0 |
- |
- |
- |
|
SP Impairment loss |
- |
0.0 |
4.3 |
0.0 |
- |
|
SP Loss valuation investment secs |
0.0 |
0.0 |
0.4 |
45.7 |
0.0 |
|
SP Loss valuation golf membership |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
|
SP Loss Environmental Protection |
0.0 |
0.7 |
0.7 |
1.7 |
0.0 |
|
SP L-adjust for change of accts assets |
0.0 |
0.3 |
0.0 |
- |
- |
|
Cancellation of a contract compensation |
0.0 |
2.6 |
0.0 |
0.4 |
0.0 |
|
SP L on cancellation of leasehold contra |
- |
0.0 |
- |
- |
- |
|
SP L on transfer of pension plans |
- |
- |
- |
0.0 |
4.1 |
|
SP Business restructuring loss |
- |
0.0 |
10.4 |
0.0 |
- |
|
Total Operating Expense |
2,222.6 |
1,743.2 |
1,288.3 |
1,501.8 |
1,357.8 |
|
|
|
|
|
|
|
|
Gain On Transfer Of Business |
0.8 |
- |
- |
- |
- |
|
SP Gain sale fixed asset |
2.1 |
0.9 |
0.9 |
0.7 |
0.1 |
|
SP Gain sale investment secs |
0.0 |
0.0 |
2.0 |
0.0 |
0.0 |
|
SP G on sale of golf memberships |
- |
- |
- |
0.0 |
0.2 |
|
SP Gain on transfer of business |
- |
0.0 |
- |
- |
0.0 |
|
SP Loss Disposal fixed asset |
-2.5 |
-2.3 |
-1.5 |
-2.3 |
-2.0 |
|
SP L sale investment secs |
-0.1 |
0.0 |
0.0 |
0.0 |
- |
|
SP L. sale affiliate stock |
- |
- |
- |
0.0 |
-2.9 |
|
SP L. sale golf membership |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
SP L on business withdrawal |
- |
- |
- |
0.0 |
-4.4 |
|
SP Loss Liquidation Affiliate |
- |
- |
0.0 |
-1.5 |
-1.9 |
|
NOP Interest inome |
1.2 |
1.0 |
1.0 |
0.6 |
0.7 |
|
NOP Dividend income |
1.1 |
1.0 |
1.0 |
2.9 |
2.0 |
|
Contribution |
-2.3 |
- |
- |
- |
- |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Rental income |
3.2 |
2.9 |
2.9 |
2.6 |
2.1 |
|
NOP Equity gain |
22.6 |
25.9 |
8.1 |
6.3 |
8.5 |
|
NOP Exchange gains |
- |
0.0 |
1.0 |
0.0 |
- |
|
NOP Other income |
3.2 |
3.5 |
3.3 |
6.4 |
2.7 |
|
NOP Interest expenses |
-2.5 |
-1.1 |
-1.2 |
-1.5 |
-1.5 |
|
NOP Disposal inventories |
- |
- |
0.0 |
-1.3 |
-5.2 |
|
NOP Exchange loss |
-0.5 |
-5.7 |
0.0 |
-4.5 |
-2.5 |
|
NOP Donations |
- |
-0.4 |
- |
- |
- |
|
NOP Other expense |
-3.2 |
-1.8 |
-1.5 |
-1.7 |
-1.2 |
|
Net Income Before Taxes |
314.7 |
256.3 |
86.2 |
78.9 |
161.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
112.4 |
87.3 |
35.2 |
27.6 |
55.7 |
|
Net Income After Taxes |
202.3 |
168.9 |
51.0 |
51.3 |
105.6 |
|
|
|
|
|
|
|
|
Minority interests in income |
-15.4 |
-12.6 |
-7.8 |
-7.2 |
-9.1 |
|
Net Income Before Extra. Items |
186.9 |
156.3 |
43.2 |
44.1 |
96.5 |
|
Net Income |
186.9 |
156.3 |
43.2 |
44.1 |
96.5 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Adjustment |
- |
-0.1 |
- |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
186.9 |
156.2 |
43.2 |
44.0 |
96.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
186.9 |
156.2 |
43.2 |
44.0 |
96.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
126.4 |
126.4 |
126.7 |
127.1 |
127.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.48 |
1.24 |
0.34 |
0.35 |
0.76 |
|
Basic EPS Including ExtraOrdinary Items |
1.48 |
1.24 |
0.34 |
0.35 |
0.76 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
186.9 |
156.2 |
43.2 |
44.0 |
96.5 |
|
Diluted Weighted Average Shares |
126.5 |
126.4 |
126.7 |
127.1 |
127.1 |
|
Diluted EPS Excluding ExtraOrd Items |
1.48 |
1.24 |
0.34 |
0.35 |
0.76 |
|
Diluted EPS Including ExtraOrd Items |
1.48 |
1.24 |
0.34 |
0.35 |
0.76 |
|
DPS-Common Stock |
0.43 |
0.29 |
0.10 |
0.13 |
0.14 |
|
Gross Dividends - Common Stock |
54.7 |
37.1 |
12.3 |
16.4 |
17.8 |
|
Normalized Income Before Taxes |
319.7 |
260.2 |
101.7 |
130.0 |
177.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
111.5 |
89.0 |
41.8 |
45.7 |
61.5 |
|
Normalized Income After Taxes |
208.2 |
171.2 |
59.8 |
84.2 |
116.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
192.8 |
158.5 |
52.1 |
76.9 |
107.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.53 |
1.25 |
0.41 |
0.61 |
0.84 |
|
Diluted Normalized EPS |
1.52 |
1.25 |
0.41 |
0.61 |
0.84 |
|
Research And Development Expense-COGS |
2.7 |
- |
- |
- |
- |
|
Research And Development Expense-SGA |
63.1 |
- |
- |
- |
- |
|
Research&development(SGA) |
- |
43.8 |
39.0 |
38.7 |
33.7 |
|
R&D Expenses (COGS) |
- |
1.8 |
1.3 |
2.2 |
2.0 |
|
Interest expense |
2.5 |
1.1 |
1.2 |
1.5 |
1.5 |
|
Depreciation of Tangible Assets |
84.5 |
- |
- |
- |
- |
|
Depreciation |
- |
62.9 |
59.0 |
58.4 |
45.6 |
|
Amortization of Goodwill |
7.5 |
- |
- |
- |
- |
|
Amort. of goodwill |
- |
-0.8 |
-0.8 |
-0.7 |
-0.2 |
|
Income taxes-current |
98.9 |
- |
- |
- |
- |
|
Current Tax - Total |
98.9 |
- |
- |
- |
- |
|
Income taxes-deferred |
13.5 |
- |
- |
- |
- |
|
Deferred Tax - Total |
13.5 |
- |
- |
- |
- |
|
Income Tax - Total |
112.4 |
- |
- |
- |
- |
|
Reported Operating Profit |
289.5 |
235.9 |
85.7 |
119.5 |
170.0 |
|
Reported Ordinary Profit |
312.3 |
261.0 |
100.5 |
129.4 |
175.5 |
|
Service cost |
9.3 |
8.6 |
9.2 |
7.9 |
6.7 |
|
Interest cost |
3.2 |
3.1 |
3.2 |
3.0 |
2.8 |
|
Expected return on plan asset |
0.0 |
0.0 |
-0.1 |
-1.0 |
-0.8 |
|
Actuarial G/L |
4.0 |
4.6 |
6.3 |
4.7 |
3.3 |
|
Pension Plan Transfer Loss |
- |
- |
- |
- |
4.1 |
|
Domestic Pension Plan Expense |
16.5 |
16.3 |
18.6 |
14.6 |
16.1 |
|
Difined Contribution Expense |
3.1 |
2.9 |
2.9 |
2.7 |
2.4 |
|
Total Pension Expense |
19.6 |
19.3 |
21.5 |
17.4 |
18.5 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
2.00% |
- |
- |
- |
- |
|
Discount Rate |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Retiremen |
0.00% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
0.00% |
0.00% |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash&deposit |
188.2 |
503.2 |
118.2 |
95.4 |
111.8 |
|
Notes and accounts receivable-trade |
577.0 |
493.4 |
386.5 |
356.0 |
468.6 |
|
Short-term investment securities |
424.8 |
181.0 |
262.2 |
182.2 |
190.9 |
|
Inventory |
- |
- |
- |
- |
185.1 |
|
Merchandise&finished goods |
39.6 |
43.1 |
33.8 |
29.6 |
- |
|
Inventories - work-in-process |
94.4 |
75.8 |
58.6 |
58.5 |
- |
|
Inventories - raw materials&supplies |
110.1 |
86.5 |
71.0 |
78.8 |
- |
|
Deferred tax |
35.3 |
39.7 |
22.6 |
30.7 |
28.4 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other |
36.9 |
14.1 |
9.9 |
23.1 |
13.6 |
|
Allowance doubtful accounts |
-2.1 |
-0.8 |
-0.8 |
-0.9 |
-1.4 |
|
Total Current Assets |
1,504.3 |
1,435.8 |
962.0 |
853.5 |
997.0 |
|
|
|
|
|
|
|
|
Building/structure |
522.8 |
499.0 |
446.7 |
401.0 |
393.9 |
|
Accumulated depreciation |
-323.6 |
-300.6 |
-261.3 |
-242.9 |
-236.0 |
|
Machinery, equipment and vehicles |
672.9 |
580.2 |
492.8 |
489.4 |
462.5 |
|
Accumulated depreciation(1) |
-464.4 |
-441.0 |
-384.6 |
-377.3 |
-365.8 |
|
Tools, furniture and fixtures |
244.3 |
207.8 |
179.9 |
180.8 |
173.7 |
|
Accumulated depreciation(2) |
-214.9 |
-188.3 |
-160.5 |
-159.9 |
-151.3 |
|
Land |
174.9 |
173.0 |
154.0 |
148.9 |
145.4 |
|
Construction in progress |
13.3 |
6.0 |
5.1 |
17.7 |
13.1 |
|
Goodwill |
176.9 |
- |
- |
- |
- |
|
Other |
15.4 |
- |
- |
- |
- |
|
Other Total Intangible Assets, Net |
0.0 |
- |
- |
- |
- |
|
Total intangible assets |
- |
12.9 |
12.8 |
14.7 |
13.9 |
|
Other Investment Securities |
59.1 |
- |
- |
- |
- |
|
Investment security |
- |
68.8 |
131.7 |
116.9 |
167.5 |
|
Invt Secs Noncons, Asc, Affd Cos |
122.1 |
- |
- |
- |
- |
|
LT inv. in sec-nonconsolidated affilates |
- |
106.7 |
- |
- |
- |
|
Deferred tax assets |
4.7 |
4.9 |
5.2 |
9.0 |
13.4 |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other |
19.9 |
17.2 |
18.1 |
15.5 |
15.7 |
|
Allowance doubtful accounts |
-1.7 |
-2.0 |
-2.0 |
-2.4 |
-2.2 |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Other Plant/machinery, Net |
0.0 |
- |
- |
- |
- |
|
Other PPE,Net |
0.0 |
- |
- |
- |
- |
|
Total Assets |
2,525.8 |
2,180.6 |
1,599.7 |
1,464.8 |
1,640.7 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
420.0 |
405.3 |
261.6 |
226.1 |
316.1 |
|
Short-term loans payable |
138.5 |
110.5 |
95.5 |
82.6 |
91.5 |
|
Current portion of LT debt |
- |
- |
- |
0.0 |
30.2 |
|
Current portion of Corporate bond |
0.0 |
132.7 |
0.0 |
- |
- |
|
Income tax payable |
54.3 |
85.6 |
9.1 |
4.1 |
32.3 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Provision for loss on order received |
1.0 |
0.0 |
- |
- |
- |
|
Reserve product warranty |
18.7 |
22.3 |
8.8 |
13.0 |
8.7 |
|
Reserve land development |
- |
- |
- |
0.0 |
4.7 |
|
Other |
228.1 |
147.2 |
91.7 |
91.5 |
100.9 |
|
Total Current Liabilities |
860.6 |
903.6 |
466.7 |
417.2 |
584.5 |
|
|
|
|
|
|
|
|
Long-term loans payable(1) |
124.8 |
- |
- |
- |
- |
|
Corporte bond |
121.4 |
0.0 |
117.7 |
111.4 |
110.5 |
|
Long-term loans payable |
- |
0.0 |
- |
- |
0.0 |
|
Total Long Term Debt |
246.2 |
0.0 |
117.7 |
111.4 |
110.5 |
|
|
|
|
|
|
|
|
Reserve accured retirement |
89.0 |
91.1 |
85.6 |
93.7 |
105.5 |
|
Provision for directors'' retirement ben |
2.1 |
1.6 |
1.5 |
2.6 |
2.9 |
|
Res. for environment plan |
0.0 |
3.9 |
6.1 |
5.3 |
0.0 |
|
Deferred Tax |
11.1 |
7.9 |
2.5 |
0.3 |
0.4 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Negative goodwill |
0.0 |
0.9 |
1.5 |
2.2 |
2.9 |
|
Other |
12.4 |
6.9 |
6.5 |
4.8 |
5.2 |
|
Minority interest |
99.1 |
74.0 |
60.9 |
53.0 |
50.9 |
|
Total Liabilities |
1,320.5 |
1,089.8 |
749.1 |
690.5 |
862.9 |
|
|
|
|
|
|
|
|
Common stock |
121.4 |
120.7 |
107.0 |
101.2 |
100.5 |
|
Total capital surpluses |
211.7 |
210.5 |
186.9 |
176.9 |
175.8 |
|
Total retained earnings |
908.1 |
775.4 |
563.6 |
502.9 |
476.3 |
|
Valuation difference on available-for-sa |
12.4 |
18.2 |
13.8 |
10.6 |
22.0 |
|
Deferred hedge gain/loss |
0.0 |
0.0 |
0.0 |
-0.1 |
0.1 |
|
Translation adj. |
-41.7 |
-28.2 |
-14.1 |
-15.7 |
4.5 |
|
Treasury stock |
-9.1 |
-7.8 |
-7.4 |
-1.5 |
-1.4 |
|
Subscription rights to shares |
2.5 |
1.9 |
0.8 |
0.0 |
- |
|
Total Equity |
1,205.3 |
1,090.7 |
850.6 |
774.3 |
777.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,525.8 |
2,180.5 |
1,599.7 |
1,464.8 |
1,640.7 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
126.4 |
126.4 |
126.4 |
127.1 |
127.1 |
|
Total Common Shares Outstanding |
126.4 |
126.4 |
126.4 |
127.1 |
127.1 |
|
T/S-Common Stock |
0.8 |
0.8 |
0.8 |
0.1 |
0.1 |
|
Full-Time Employees |
4,995 |
4,057 |
3,998 |
3,989 |
3,884 |
|
Total Number of Shareholders |
11,035 |
- |
- |
- |
- |
|
Common shareholder |
- |
9,017 |
5,073 |
5,312 |
4,971 |
|
LT debt maturing within 1 yr |
- |
132.7 |
- |
- |
30.2 |
|
LT debt maturing within 2 yr |
- |
- |
117.7 |
- |
- |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
121.4 |
- |
- |
- |
- |
|
LT debt maturing within 3 yr |
- |
- |
- |
111.4 |
- |
|
LT debt maturing within 4 yr |
- |
- |
- |
- |
110.5 |
|
Bond Redemp Amts over 4 Yrs within 5 Yrs |
121.4 |
- |
- |
- |
- |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
3.4 |
- |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
246.2 |
132.7 |
117.7 |
111.4 |
140.7 |
|
Pension obligation |
157.8 |
168.9 |
154.2 |
164.4 |
167.9 |
|
Fair value of plan asset |
54.1 |
58.4 |
50.2 |
42.0 |
39.3 |
|
Funded status |
-103.7 |
-110.6 |
-104.0 |
-122.4 |
-128.6 |
|
Total Funded Status |
-103.7 |
-110.6 |
-104.0 |
-122.4 |
-128.6 |
|
Discount rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Return Rate |
0.00% |
- |
- |
- |
- |
|
Expected rate of return |
- |
0.00% |
0.00% |
2.00% |
2.00% |
|
Unrecog. actuarial G/L |
14.6 |
19.5 |
20.7 |
28.7 |
23.1 |
|
Prepaid Pension Benefits |
- |
0.0 |
2.3 |
- |
- |
|
Accrued pension |
-89.0 |
-91.1 |
-85.6 |
-93.7 |
-105.5 |
|
Net Assets Recognized on Balance Sheet |
-74.4 |
-71.6 |
-62.7 |
-65.0 |
-82.5 |
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 |
KPMG AZSA LLC |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income,before tax |
314.7 |
256.2 |
86.2 |
78.9 |
161.3 |
|
Depreciation |
84.5 |
62.9 |
59.0 |
58.4 |
45.6 |
|
Amortization of goodwill |
7.5 |
-0.8 |
-0.8 |
-0.7 |
-0.2 |
|
Foreign exchange losses (gains) |
0.0 |
- |
- |
- |
- |
|
Gain On Revision Of Retirement Benefit P |
-0.6 |
- |
- |
- |
- |
|
Share-based compensation expenses |
1.3 |
1.1 |
0.8 |
0.0 |
- |
|
Increase (decrease) in allowance for dou |
0.0 |
-0.2 |
-0.7 |
-0.2 |
-0.7 |
|
Increase (decrease) in provision for ret |
-2.1 |
-5.2 |
-13.5 |
-12.4 |
-8.6 |
|
Increase (decrease) in provision for dir |
0.5 |
-0.1 |
-1.3 |
-0.2 |
0.0 |
|
Interest÷nd income |
-2.2 |
-1.9 |
-2.0 |
-4.5 |
-2.7 |
|
Interest expenses |
2.5 |
1.1 |
1.2 |
1.5 |
1.5 |
|
Exchange loss |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Equity in (earnings) losses of affiliate |
-22.6 |
-25.9 |
-8.1 |
-6.3 |
-8.5 |
|
Loss (gain) on sales of noncurrent asset |
-2.1 |
-0.9 |
-0.9 |
-0.7 |
-0.1 |
|
Loss (gain) on disposal of noncurrent as |
2.5 |
2.3 |
1.5 |
2.3 |
2.0 |
|
Loss on cancellation of rental contract |
0.1 |
- |
- |
- |
- |
|
Impairment losses on assets |
- |
0.0 |
4.3 |
0.0 |
- |
|
Loss sale affiliate stock |
- |
- |
- |
0.0 |
2.9 |
|
Loss (gain) on sales of short-term and l |
0.1 |
0.0 |
-2.0 |
0.0 |
- |
|
Loss (gain) on valuation of short-term a |
0.0 |
0.0 |
0.4 |
45.7 |
- |
|
Gain sale investment secs |
- |
- |
- |
- |
0.0 |
|
Loss valuation investment secs |
- |
- |
- |
- |
0.0 |
|
Gain sale membership |
- |
- |
- |
0.0 |
-0.2 |
|
Loss sale golf membership |
- |
- |
- |
- |
0.0 |
|
Loss (gain) on sales of golf club member |
0.0 |
0.0 |
0.0 |
- |
- |
|
Loss valuation golf membership |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
|
G/L on business restructuring |
- |
0.0 |
10.4 |
0.0 |
- |
|
L on business withdraw |
- |
- |
- |
0.0 |
4.4 |
|
G. Transfer affiliate business |
- |
- |
- |
- |
0.0 |
|
G on transfer of pension plans |
- |
0.0 |
- |
- |
- |
|
Loss on cancellation of rental contract |
- |
0.0 |
- |
- |
- |
|
Cancellation of a contract compensation |
0.0 |
2.6 |
0.0 |
0.4 |
0.0 |
|
L-adjust for change of accts assets |
0.0 |
0.3 |
0.0 |
- |
- |
|
Loss Liquidation Affiliate |
- |
- |
0.0 |
1.5 |
1.9 |
|
Decrease (increase) in notes and account |
-30.6 |
-54.5 |
-11.2 |
103.6 |
6.2 |
|
Decrease (increase) in inventories |
-2.9 |
-24.5 |
14.5 |
11.3 |
-4.1 |
|
Decrease (increase) in other assets |
-16.5 |
-3.8 |
-0.6 |
4.7 |
- |
|
Other |
- |
- |
- |
- |
-2.0 |
|
Increase (decrease) in notes and account |
3.3 |
114.0 |
22.0 |
-80.4 |
16.3 |
|
Increase (decrease) in accrued consumpti |
-1.1 |
-5.6 |
4.9 |
-2.3 |
-1.4 |
|
Increase (decrease) in other liabilities |
-18.8 |
30.2 |
-0.1 |
-5.4 |
-11.5 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Director's bonus paid |
- |
- |
- |
- |
0.0 |
|
Interest & dividend received |
8.9 |
6.7 |
3.5 |
5.8 |
3.6 |
|
Interest paid |
-2.4 |
-0.9 |
-1.1 |
-1.7 |
-1.5 |
|
Business restructuring |
- |
0.0 |
-5.7 |
0.0 |
- |
|
Payment for cancellation of a contract c |
0.0 |
-2.1 |
0.0 |
- |
- |
|
Income taxes (paid) refund |
-132.8 |
-24.2 |
-0.5 |
-59.4 |
-44.7 |
|
Cash from Operating Activities |
191.3 |
326.7 |
160.2 |
139.9 |
159.7 |
|
|
|
|
|
|
|
|
Purchase Of Investments In Subsidiaries |
-223.1 |
- |
- |
- |
- |
|
Time deposit made |
-5.0 |
-0.4 |
-0.3 |
-0.3 |
-0.5 |
|
Time deposit matured |
0.1 |
0.1 |
0.0 |
3.0 |
0.0 |
|
Purchase of property, plant and equipmen |
-114.3 |
-51.2 |
-63.3 |
-81.9 |
-40.5 |
|
Proceeds from sales of property, plant a |
4.5 |
2.3 |
1.2 |
1.2 |
0.3 |
|
Purchase intangible |
-7.7 |
-3.1 |
-1.8 |
-5.4 |
-5.9 |
|
Proceeds From Sales Of Intangible Assets |
0.0 |
- |
- |
- |
- |
|
Proceeds from sales of intangible assets |
- |
0.0 |
- |
- |
- |
|
Purchase investment secs |
-0.2 |
-0.1 |
-5.8 |
-9.9 |
-32.9 |
|
Sale investment secs |
0.2 |
0.0 |
5.0 |
0.1 |
0.0 |
|
Purchase of investments in subsidiaries |
- |
0.0 |
- |
- |
- |
|
Purchase affiliate stock |
-0.1 |
-1.8 |
0.0 |
0.0 |
-2.2 |
|
Sale Affiliate Stock and Contribution |
- |
- |
- |
0.0 |
2.4 |
|
Proceeds From Transfer Of Business(1) |
1.4 |
- |
- |
- |
- |
|
Affiliate business transfer |
- |
- |
- |
- |
0.0 |
|
Loan affiliates, made |
- |
- |
0.0 |
-0.1 |
0.0 |
|
Loan collected |
0.0 |
0.0 |
0.3 |
0.0 |
0.1 |
|
Proceeds from transfer of business |
- |
0.0 |
- |
- |
- |
|
Other Investment paid |
-8.8 |
-3.3 |
-4.1 |
-1.3 |
-1.7 |
|
Other Investmet income |
5.0 |
5.7 |
2.5 |
1.7 |
2.4 |
|
Cash from Investing Activities |
-347.8 |
-51.6 |
-66.2 |
-92.8 |
-78.5 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
2.9 |
3.1 |
8.1 |
-9.4 |
-29.1 |
|
Proceeds from long-term loans payable |
130.4 |
- |
- |
- |
- |
|
Proceeds From Issuance Of Bonds |
126.6 |
- |
- |
- |
- |
|
LT debt proceed |
- |
0.0 |
- |
- |
- |
|
Redemption Of Bonds(1) |
-139.3 |
- |
- |
- |
- |
|
LT debt repay |
- |
- |
0.0 |
-29.9 |
-4.2 |
|
Issuance of bond |
- |
0.0 |
- |
- |
0.0 |
|
Redemption of bonds |
- |
0.0 |
- |
- |
- |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Proceed from minorities' payment |
16.6 |
0.0 |
0.0 |
4.0 |
2.5 |
|
Treasury purchase |
-2.1 |
-0.4 |
-1.0 |
-0.7 |
-1.7 |
|
Treasury sales |
0.0 |
0.6 |
0.2 |
0.4 |
1.6 |
|
Dividend paid |
-53.0 |
-20.8 |
-10.9 |
-21.5 |
-16.7 |
|
Dividend minority |
-5.7 |
-4.2 |
-3.8 |
-4.4 |
-2.6 |
|
Cash from Financing Activities |
76.4 |
-21.6 |
-7.4 |
-61.6 |
-50.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-2.8 |
-6.8 |
0.8 |
-9.5 |
0.0 |
|
Net Change in Cash |
-82.9 |
246.8 |
87.4 |
-24.1 |
30.9 |
|
|
|
|
|
|
|
|
Cash beginning balance |
716.4 |
413.4 |
293.7 |
295.8 |
229.1 |
|
Cash ending balance |
633.5 |
660.2 |
381.2 |
271.7 |
260.0 |
|
Cash Interest Paid |
2.4 |
0.9 |
1.1 |
1.7 |
1.5 |
|
Cash Taxes Paid |
132.8 |
24.2 |
0.5 |
59.4 |
44.7 |
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.53.94 |
|
UK Pound |
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
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.